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2009-166
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2009-166
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EXHIBIT B <br /> [ paragraphs 1 . 1 ; 3 . 1 ; and 9 . 1 ( a ) of that certain "AGREEMENT BETWEEN INDIAN RIVER <br /> COUNTY AND COALITION FOR ATTAINABLE HOMES , INC . FOR DONATION OF <br /> SURPLUS COUNTY OWNED LANDS " by and between Grantor and Grantee (therein <br /> styled "Applicant " ) dated as of June 2 , 2009 , a complete copy of which is on file with <br /> the <br /> office of the Clerk to the Indian River County Board of County Commissioners . ] <br /> 1 . 1 . Applicant shall construct and complete , through the receipt of a Certificate of <br /> Occupancy , one single family residence on each Lot within three ( 3 ) years of the date of <br /> the deed of conveyance of the Lots to Applicant . Applicant and County acknowledge and <br /> agree that one ( 1 ) of the Lots has the capacity to be subdivided into multiple Lots <br /> and <br /> each such subdivided Lot shall have one ( 1 ) single family residence on it and all such <br /> subdivided lots are , for all purposes herein , collectively included within the terms Lot and <br /> Lots . If a Certificate of Occupancy is not issued for any of the single family residences on <br /> any Lot within the referenced 3 year timeframe , the title to any such Lot shall revert to the <br /> County unless an extension of the three ( 3 ) year time frame is approved by the Indian <br /> River County Board of County Commissioners at a regularly scheduled meeting thereof. <br /> 3 . 1 . Applicant shall maintain its existence as a not-for- profit corporation under the <br /> applicable laws of the State of Florida and its qualification as a Section 501 ( c ) ( 3 ) Entity <br /> during the term of this Agreement . Applicant acknowledges and agrees that , in the event <br /> ( a ) Applicant loses its status as Section 501 ( c ) ( 3 ) Entity ; or ( b ) Applicant dissolves its <br /> corporate existence , and either of the foregoing occur while Applicant is still the owner of <br /> the Lots , then all right , title and interest of Applicant in and to the Lots shall automatically <br /> terminate and be rendered null and void , and all right , title and interest in and to the <br /> Lots <br /> shall automatically vest in Indian River County , a political subdivision of the State of <br /> Florida . <br /> 9 . 1 . Applicant acknowledges that the County is donating the Lots pursuant to Florida <br /> Statutes section 125 . 379 for the construction of permanent affordable housing . <br /> Accordingly , the parties acknowledge and agree that the County ' s remedy for breach of <br /> this Agreement by Applicant shall be as follows . <br /> ( a ) Any use of any Lot by Applicant in violation of this Agreement shall result in <br /> reversion of the Lot to the County and Applicant shall , immediately upon request <br /> of County , execute and record a Quitclaim Deed conveying such Lot to the <br /> County ; <br />
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