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AGREEMENT <br /> NOW THEREFORE , in consideration of the sum of Ten and 00/ 100 Dollars ($ 10 . 00) <br /> and other good and valuable consideration , the sufficiency of which is hereby acknowledged, as <br /> well as the covenants and promises of each Party hereinafter set forth , the Parties do hereby <br /> agree and covenant with each other as follows : <br /> 1 . RECITALS . The foregoing Recitals are true and correct and are incorporated <br /> herein by this reference . <br /> 2 . ROAD PROJECT. For the purposes of this Agreement, the general area of 5th <br /> Street SW to be improved or constructed is as follows : <br /> From a point beginning at the end of the existing paved portion of 5th Street SW <br /> proceeding east approximately 1883 feet to the centerline of 12th Avenue , proceeding east <br /> approximately 720 feet to the proposed entrance to the Serenoa Property as more <br /> particularly described on Exhibit "C " , which is attached hereto and hereby incorporated <br /> by this reference . (the "Road Project") <br /> SUNLAND and SERENOA agree to each allow the construction of the Road Project on <br /> their properties as set forth in the Construction Plans . <br /> 3 . CONSTRUCTION PLANS . SERENOA and SUNLAND agree to equally share <br /> the cost in having fully engineered construction plans designed to Florida Department of <br /> Transportation "Green Book" standards for the Road Project (the "Construction Plans ") and <br /> other projects undertaken pursuant to this Agreement prepared, and will provide these plans to <br /> the COUNTY, regulatory agencies connected with the State of Florida, and regulatory agencies <br /> connected with the federal government, prior to construction for their review and approval . The <br /> DEVELOPERS agree that SUNLAND shall select the architect, surveyor, engineering firm , <br /> environmental consultants , and other professionals necessary to prepare the Construction Plans . <br /> The DEVELOPERS or their principals shall be solely responsible for obtaining all permits for <br /> construction of the Road Project . If the roadway is constructed prior to the installation of any <br /> water or sewer lines , the Construction Plans shall be designed in such way that the roadway not <br /> be above any currently planned or anticipated water or sewer lines . <br /> 4 . MANAGING DEVELOPER. The DEVELOPERS agree that SUNLAND shall <br /> oversee the day-to - day construction of the Road Project and other projects undertaken pursuant <br /> to this Agreement in conformance with the Construction Plans . SUNLAND and SERENOA <br /> agree to equally share all reasonable third-party out-of-pocket costs incurred by either Party in <br /> connection with the construction of the Road Project in accordance with the Construction Plans . <br /> The DEVELOPERS agree that SUNLAND shall be allowed to exercise reasonable professional <br /> judgment in the execution of the Construction Plans . Any changes to the permitted Construction <br /> Plans shall be approved by the COUNTY in writing . It is understood and agreed that <br /> SUNLAND shall cause the commencement of the construction of the Road Project to occur <br /> within six (6) months from the date of this Agreement, with an anticipated completion date of six <br /> (6) months from the date of the commencement of construction , and that a default thereof shall <br /> 2 of 9 <br />