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DEVELOPER'S AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />AND <br />LOCKWOOD LANE DEVELOPMENT GROUP, LLC <br />FOR TURTLE CREEK PLANNED DEVELOPMENT <br />THIS AGREEMENT, entered this 24th day of January, 2006, by and between <br />INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, <br />1840 25th Street, Vero Beach, Florida, 32960, hereafter called COUNTY, and <br />LOCKWOOD LANE DEVELOPMENT GROUP, LLC, P.O. Box 1779, Vero Beach, <br />Florida 32961, telephone number (772) 567-9255, hereafter referred to as the <br />DEVELOPER. <br />WITNESSETH <br />WHEREAS, the DEVELOPER has applied to build a planned development to be <br />known as TURTLE CREEK PLANNED DEVELOPMENT, which consists of two <br />phases, on approximately 297 acres of land on the north side of 13th Street S.W., between <br />43rd Avenue and 27th Avenue in Indian River County, Project Number PD -05-01-01 <br />(200050121), 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 <br />respect to improvements to the section of 27th Avenue SW from 13th Street S.W. to 5th <br />Street S.W., and; <br />WHEREAS, the COUNTY is planning to make improvements to the section of <br />27th Avenue SW from 13th Street S.W. to 5th Street S.W. which is not included on the <br />County's Capital Improvement Plan, 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 improvements to <br />expand the section of 27th Avenue SW from 13th Street S.W. 5th Street S.W. to four <br />lanes, and;. <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 true and correct and are thereby incorporated <br />