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<br /> DEVELOPER' S AGREEMENT BETWEEN �1
<br /> INDIAN RIVER COUNTY, FLORIDA
<br /> AND
<br /> OSLO 27, LLC
<br /> FOR 27th AVENUE BETWEEN 13th STREET S.W. AND 17`h STREET S.W.
<br /> THIS AGREEMENT, entered this _12th_ day of December , 2006, by and between INDIAN
<br /> RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, whose post office address
<br /> is 1840 25 ` ' Street, Vero Beach, Florida, 32960 , (hereafter referred to as "COUNTY"), and OSLO 27,
<br /> LLC, a Florida limited liability company, whose post office address is c/o P&S Properties of Indian
<br /> River, Inc ., 3001 Ocean Drive, Suite 202, Vero Beach, Florida 32963 , telephone number (772) 234-
<br /> 2899, (hereafter referred to as "DEVELOPER");
<br /> WITNESSETH :
<br /> WHEREAS, DEVELOPER has applied to build a commercial development to be known as
<br /> SOUTHERN OAKS CENTER, which consists of two phases, on approximately 12 .5 acres of land on the
<br /> south side of Oslo Road, west of 27th Avenue, in Indian River County, Florida, Project No. SP-MA-06-
<br /> 10-56/2005120295 , the legal description of which is attached as Exhibit "A" and incorporated herein by
<br /> reference; and
<br /> WHEREAS, COUNTY and DEVELOPER share mutual concerns with respect to improvements
<br /> to the section of 27t" Avenue from 13th Street S .W. to 17th Street S .W.; and
<br /> WHEREAS, the section of 27'" Avenue from 13`h Street S .W. to 17`h Street S .W. is a roadway
<br /> segment not included in the COUNTY 5 -year Capital Improvements Program ; and
<br /> WHEREAS, both COUNTY and DEVELOPER can mutually benefit from roadway
<br /> improvements to expand the section of 27°i Avenue from 13 `h Street S .W. to 17th Street S .W. to four
<br /> lanes, and also permit DEVELOPER to vest its project with regard to concurrency requirements so its
<br /> development may proceed.
<br /> NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and
<br /> premises hereinafter, COUNTY and DEVELOPER agree as follows:
<br /> 1 . Inte¢ration : The above recitals are affirmed as true and correct and are thereby
<br /> incorporated herein .
<br /> 2. Roadwav Improvements Project:
<br /> A. To accommodate increased traffic generated by the project, SOUTHERN OAKS
<br /> CENTER, DEVELOPER covenants and agrees to construct and pay all costs and
<br /> expenses associated with the following roadway improvements: Expand from 2 lanes to
<br /> 4 lanes, 27h Avenue from 13th Street S .W. to W Street S .W., including all necessary
<br /> turn lanes, signalization, signage, pavement markings, drainage improvements,
<br /> sidewalks, transit facilities, and any off-site stormwater facilities necessitated by the
<br /> roadway improvements.
<br /> B . DEVELOPER agrees to provide the engineering, design, survey and permitting
<br /> of said improvements, as approved by the Indian River County Public Works Director,
<br /> and DEVELOPER agrees to construct and pay for said improvements , in accordance with
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