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17. Recording of Agreement: This Agreement may be recorded in the official records of Indian River County by the COUNTY . If recorded, the obligations defined in this Agreement shall run with the land and shall bind subsequent owners of the property for the term of this Agreement. The DEVELOPER shall pay for all recording cost. 18 . Severability / Invalid Provision : If any provision of the Agreement is held to be illegal, invalid or unenforceable under present or future laws, such provision shall be fully severable: this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part of this Agreement, and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by such illegal, invalid, or unenforceable provision or by its severance from this Agreement. 19. Term : The term of this Agreement is five (5) years . Unless otherwise agreed to by the parties in writing, this Agreement shall not be renewed automatically for successive terms. Notwithstanding the foregoing, this Agreement shall be coterminous with FDEP Permit for construction and with the County' s Utility Construction Permit, whichever provides a shorter time period, but shall be not more than five (5) years from the date of issuance. The County may terminate this Agreement early in its sole discretion if it determines that the development project intended to be served by the improvements is suspended or discontinued . 20. Time of Essence : Time is of the essence of this Agreement; however, if the final date of any period which is set out in any provision of this Agreement falls on a Saturday, Sunday or legal holiday under the laws of the State of Florida, then, in such event, the time of such period shall be extended to the next day which is not a Saturday, Sunday or legal holiday. IN WITNESS WHEREOF, the COUNTY and the DEVELOPER have accepted, made, and executed this Agreement as follows : DEVELOPER: Vero Village, LLC Witness Signature By : Q, S n C printed name Paul Schwartz Wit ess P inted e Title : Manager Date : Witness Signature Witness Printed Name STATE OF FLORIDA COUNTY OF INDIAN RIVER pp The foregoing instrument was acknowledged before me this �a of 2006, by 61C) L, /fu 11 l vho is personally known tome or who has produced as ict�plfIfttS• J`�x\ppN C tsARCUS �},1SSION � •.•• yip Name : � Notary Public = 9 N Commissi 1114n& �SS( �C 7 = * �. • * ' q :o? Expiration Date ��a/ o % 6DD381807 4ndidoQ4 4� Arorca a4*e 6 of 7 iy� AU •.. ....• OF NF>.