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4A r AGREEMENT for BEACH DUNE RESTORATION THIS AGREEMENT for BEACH DUNE RESTORATION COST-SHARING ( "Agreement" ) entered into this 4th day of Novarber , 2008 by and among INDIAN RIVER COUNTY , a political subdivision of the State of Florida ( "County" ) ; Marbrisa Homeowners Association , Inc . , a not for profit corporation existing under the laws of the State of Florida ( " Marbrisa" ) ; and Baytree Condominium Association , Inc , a not for profit corporation existing under the laws of the State of Florida ( " Baytree " ) . BACKGROUND RECITALS A . Indian River County , local municipalities , and private property owners maintain beach dune systems along the 22 miles of Indian River County Atlantic Ocean shoreline . As a result of several Nor' easter storms in 2007 , Indian River County received direct impacts from Tropical Storm Noel causing localized beach erosion . B . The beach dunes along the Baytree residential development , the Marbrisa residential development , and Seagrape Trail Park Beach Access Area have experienced severe erosion and are in need of sand restoration . C . The Florida Department of Environmental Protection has entered into DEP Agreement Number 071R2 (the " DEP Agreement" ) , attached hereto as Exhibit A and by this reference made a part hereof. The DEP Agreement is a grant agreement for the Wabasso Beach Restoration that has Indian River County as the local sponsor. As set forth in Table 1 of the DEP Agreement , the DEP has committed the sum of $ 567 , 607 . 89 ( " DEP Funds" ) the DEP funds represent a cost-sharing ratio of 50 % of the total $ 1 , 135 , 215 . 78 . The remaining 50 % or $ 567 , 607 . 89 is to be funded by the County . The DEP Agreement is to provide funding for dune restoration and maintenance of approximately 7 . 1 miles of Atlantic Shoreline including the Atlantic shoreline fronting Wabasso Beach Park , Baytree , & Marbrisa residential developments , and Sea Grape Trail ( " Dune Project" ) D . The DEP Agreement includes a separate line item to fund the dune restoration of the portion of the Dune Project fronting the Baytree & Marbrisa residential developments' . The County is required to be the local sponsor for the Baytree and Marbrisa residential developments ' portion of the Dune Project under the DEP Agreement . The estimated cost of the Baytree & Marbrisa residential developments ' dune project is herein defined as $ 351 , 806 . The local match is 50 % or $ 175 , 903 of the project costs . E . Under the DEP Agreement , Baytree and Marbrisa intend to restore approximately 2 , 000 feet of shoreline , on a proportionate basis , by paying all local Dune Project costs associated to restore dunes within the project area . F . Baytree and Marbrisa have retained a coastal engineering firm , and have caused the design and permitting of the Dune Project by such coastal , engineering firm . 1