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DEVELOPER'S AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />AND <br />510 GROUP, L.L.C. <br />FOR BLUEWATER BAY RESIDENTIAL PLANNED DEVELOPMENT <br />THIS AGREEMENT, entered this __&tlxlay of <br />2006, by and between <br />INDIAN D4cTD r�Ort`rry DT nnrn A l:. Ld. r,L f, i pA.. n�th <br />. C UN A i, a•a�vavLr� a po Itlt,at Snu iviSiVii G1 IIIc .State Gt rlGi Ida, 1li40 25 <br />Street, Vero Beach, Florida, 32960, hereafter called COUNTY and 510 GROUP, L.L.C., 1974 14'h <br />Avenue, Vero Beach, Florida 32960, telephone number (772) 567-9255, hereafter referred to as <br />DEVELOPER. <br />WITNESSETH <br />WHEREAS, the DEVELOPER has applied to develop a 379 -unit residential development to <br />be known as BLUEWATER BAY on 141.79 acres of land located on the north side of CR 510, <br />between 90'h Avenue and 86`h Avenue in Indian River County, Project Number PD -04-10-19 <br />(2001080013-46608), the legal description is attached as Exhibit "A" and incorporated herein by <br />reference, and; <br />WHEREAS, the COUNTY and DEVELOPER share mutual concerns with respect to <br />construction of: <br />1. The <br />east leg <br />of the intersection of <br />89" <br />Street and CR 510, aligned with 89th Street <br />west <br />of CR <br />510, accommodating <br />the <br />Sebastian River High School driveway and <br />upgraded signalization at that intersection. <br />2. Eastbound left -turn lane and westbound right -turn lane on CR 510 at 86th Avenue. <br />3. Sidewalk connection to Liberty Magnet School and CR 510 sidewalk. <br />4. Eastbound right -turn lane at the development's 89`' Street entrance and southbound <br />left -turn lane on CR 510 at 89'h Street. <br />5. Five-foot (5') sidewalks along <br />the development's CR 510, 89th Street <br />and <br />86'h <br />Avenue frontages together with <br />connections to the development's internal <br />four -foot <br />(4') sidewalk system. <br />WHEREAS, if the COUNTY project to widen CR 510 from 2 -lanes to 4 -lanes is approved <br />and scheduled to commence construction prior to January 1, 2008, then the DEVELOPER is not <br />required to construct CR 510 widening or associated above turn lanes; and <br />1 <br />