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DEVELOPERS AGREEMENT BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> LACERTE HOMES, INC. <br /> FOR WINTER BEACH VILLAGE PLANNED DEVELOPMENT <br /> THIS AGREEMENT, entered this 14t�f -Lar.2b06, by and between INDIAN RIVER <br /> COUNTY, FLORIDA a political subdivision of the State of Florida, 1840 25`h Street, <br /> Vero Beach, Florida, 32960 hereafter called COUNTY and LACERTE HOMES , INC., <br /> 9551 HIGHWAY 78 WEST, OKEECHOBEE, FL, 34974, telephone number (863 ) 467- <br /> 6759, hereafter referred to as the DEVELOPER. <br /> WITNESSETH <br /> WHEREAS, the DEVELOPER has applied to develop a residential planned <br /> development to be known as WINTER BEACH VILLAGE on approximately 46 acres of <br /> land on the south side of 69th Street, east of US- 1 in Indian River County, Project <br /> Number PD-04-08- 13 (2003110064-47343), the legal description is attached as Exhibit <br /> "A" and incorporated herein by reference, and; <br /> WHEREAS, the COUNTY and DEVELOPER share mutual concerns with <br /> respect to improvements at the intersection of CR 510 and U. S . 1 , and; <br /> WHEREAS, the COUNTY is planning to make improvements to the intersection <br /> of CR 510 and U . S . 1 , and; <br /> WHEREAS, both the COUNTY and DEVELOPER can mutually benefit each <br /> other through a joint effort that will share the cost of the proposed CR 510 / U. S . 1 <br /> intersection improvements. <br /> NOW, THEREFORE, in consideration of the mutual terms, conditions, <br /> promises, covenants and premises hereinafter, the COUNTY and DEVELOPER agree as <br /> follows : <br /> 1 . The above recitals are affirmed as being true and correct and are thereby <br /> incorporated herein. <br /> 2. To accommodate increased traffic generated by Winter Beach Village, the <br /> COUNTY would be required to make improvements to the intersection of CR 510 <br /> and U. S . 1 in the amount of $5,000,000.00, of which the DEVELOPER' S fair <br /> share of cost is 1 .6838% or $ 84, 190.00. The DEVELOPER shall pay to the <br /> COUNTY the sum of $ 84, 190. 00 prior to issuance of a land development permit <br /> as a contribution toward construction of the intersection improvements at CR 510 <br /> and U. S . 1 . No impact fee credits will be allowed as a result of the DEVELOPER <br /> contribution. _ The DEVELOPER' S obligation with respect to the intersection of <br /> CR 510 and -U. S . 1 shall be deemed satisfied so long as the DEVELOPER is in <br /> compliance with this Agreement. The DEVELOPER shall have no further <br /> obligation with respect to the CR 510 / U. S . 1 intersection, and neither the <br /> DEVELOPER nor any purchaser of, or within, Winter Beach Village be deemed <br />