7/14/2016 1:41:39 PM
9/30/2015 8:36:28 PM
Official Document Type
Agenda Item Number
Sunland Development, Inc.,
Developers Agreement Road Construction
5th St. SW Lexington Place
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DEVELOPER' S AGREEMENT BETWEEN <br /> SUNLAND DEVELOPMENT, INC . , <br /> SERENOA, LLC , AND 0 ` <br /> INDIAN RIVER COUNTY, FLORIDA FOR <br /> 5TH STREET SW ROAD CONSTRUCTION <br /> THIS AGREEMENT (the "Agreement") is entered into by and between SUNLAND <br /> DEVELOPMENT , INC . , a Florida corporation (" SUNLAND'") , SERENOA, LLC , a Florida <br /> limited liability company, formerly known as AW , LLC , a Florida limited liability company <br /> (" SERENOA") , each individually a "DEVELOPER" and collectively the "DEVELOPERS ", and <br /> INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida (the <br /> " COUNTY) , each individually a "Party" and collectively the "Parties " . <br /> RECITALS <br /> WHEREAS , SUNLAND is the fee simple owner of certain real property consisting of <br /> approximately 79 . 26 acres of land along the north side of 5th Street SW in Indian River County <br /> Florida, more particularly described in the legal description attached hereto as Exhibit "A" and <br /> incorporated herein by this reference (the " Sunland Property") ; and <br /> WHEREAS , SERENOA is the fee simple owner of certain real property consisting of <br /> approximately 97 . 33 acres of land along the north side of 5th Street SW in Indian River County <br /> Florida, more particularly described in the legal description attached hereto as Exhibit "B " and <br /> incorporated herein by this reference (the " Serenoa Property") ; and <br /> WHEREAS , SUNLAND , SERENOA, and COUNTY share mutual concerns with <br /> respect to paving and other improvements to 5th Street SW to accommodate project traffic <br /> volumes and the general development plans for their individual properties ; and <br /> WHEREAS , the COUNTY owns and maintains a portion of 5th Street SW adjacent to <br /> the Sunland Property and the Serenoa Property and possesses a right of way across various other <br /> portions of 5th Street SW adjacent to the Sunland Property and the Serenoa Property , all which <br /> the DEVELOPERS desire to improve ; and <br /> WHEREAS , the COUNTY is willing to grant DEVELOPERS the authority to enter on <br /> and improve 5th Street SW provided that the DEVELOPERS convey the right-of-way to the <br /> COUNTY in fee simple after completion of the improvements and provide a bill of sale for any <br /> improvements , all which the COUNTY agrees to accept and maintain ; and <br /> WHEREAS , SUNLAND , SERENOA , and COUNTY can mutually benefit each other <br /> through a joint effort to pave 5th Street SW and share in the costs of the proposed 5th Street SW <br /> improvements . <br /> 1 of 9 <br />
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