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t ORIGINAL DEVELOPER' S AGREEMENT between INDIAN RIVER COUNTY, FLORIDA and TABERNACLE BAPTIST CHURCH OF VERO BEACH, INC, This Developer' s Agreement, entered into this 1 st day of May, 200_L_ by and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, hereinafter referred to as COUNTY, and TABERNACLE BAPTIST CHURCH OF VERO BEACH, INC . , hereinafter referred to as TABERNACLE, for the purpose of providing drainage facilities. WITNESSETH : WHEREAS , TABERNACLE owns a 12 . 33 +- acre parcel of land at the southwest corner of Old Dixie Highway and The South Relief Canal , known as Indian River County Tax Parcels 933 -39- 13 -00000-7000 -00029 . 0 and 30 . 0, hereinafter referred to as "parent tract" as described in Exhibit `B ' , attached hereto and incorporated herein by reference, and, WHEREAS , both COUNTY and TABERNACLE share mutual concerns with respect to road and drainage facilities for Old Dixie Highway, replacement of the bridge over the South Relief Canal , and future expansion of TABERNACLE ' S property located adjacent to Old Dixie Highway; and WHEREAS, both the COUNTY and TABERNACLE can assist each other through a joint effort that will facilitate widening the road, replacing the bridge, and providing stormwater treatment. NOW, THEREFORE, in consideration of the mutual terms, conditions, promises , covenants, and premises hereinafter, the COUNTY and TABERNACLE agree as follows : 1 .The above recitals are affirmed as being true and correct and are thereby incorporated herein . 2 .Within 30 days of execution of this AGREEMENT by all required parties, TABERNACLE shall convey to COUNTY by warranty deed , a parcel of land in the northeast corner of the parent tract for construction of a drainage retention facility. Said parcel shall contain 35 ,080 . 9 square feet or . 80 acre (legal description attached as Exhibit "A") . The COUNTY shall pay to the TABERNACLE the sum of $ 103 , 000 . 00 for said parcel . In addition. COUNTY shall pay TABERNACLE the sum of $ 1 ,750 . 00 as reimbursement for a real estate appraisal of said parcel that was previously paid for by TABERNACLE. 3 .The COUNTY shall construct at the COUNTY ' S sole cost and expense, a new 3 -lane bridge at Old Dixie Highway over the South Relief Canal, and road widening and paving improvements to provide left turn lanes at 1 st Street and 2nd Street . 4. The COUNTY shall construct its retention pond and outfall structure to the South Relief Canal north of the Exhibit "A" parcel (or as permitted by granting authorities) . COUNTY will oversize its outfall pipe in the event TABERNACLE may F: Tublic WarksVCapital Proiects0evelopers Agreements\TabemacleBaptistChurohl0-12-06 doc 1 RETURN To !, t2 , Coua; ry