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EX HIBIr <br /> B <br /> DEVELOPER' S AGREEMENT BETWEEN <br /> INDIAN RIVER FEDERAL CREDIT UNION <br /> AND <br /> ELWILLASSOCIATES, INC. <br /> AND <br /> INDIAN RIVER COUNTY, FLORIDA <br /> THIS AGREEMENT, entered this day of , 2008 , by and <br /> between, and INDIAN RIVER FEDERAL CREDIT UNION, a not-for-profit financial <br /> cooperative, 2800 2& Street, Vero Beach, FL 32960 hereafter referred to as Credit Union; and <br /> ELWILL ASSOCIATES, INC., a Florida corporation, 319 Monroe Drive, West Palm Beach, FL <br /> 33405 , hereafter referred to as Elw-RI; and INDIAN RIVER COUNTY, FLORIDA, a political <br /> subdivision of the State of Florida, 1801 274h Street, Vero Beach, Florida, 32960, hereafter <br /> referred to as COUNTY. <br /> WITNESSETH <br /> WHEREAS , the Credit Union has applied to develop a financial building to be known as <br /> the Indian River Federal Credit Union, consisting ofr ` square feet (the "Project") Indianke'4"�� <br /> River County Project No . 200604025, to be built on the north side of Oslo Road west of 27"' <br /> Avenue, Indian River County; and <br /> WHEREAS, in the same application Elwill has applied to develop a retail project <br /> l b� (oafl <br /> consisting of .v: square feet on a parcel of property directly to the north of the Credit C*4� <br /> Union property; and <br /> WHEREAS, the County is under contract to purchase a parcel of property north of the <br /> Elwill and Credit Union properties that will serve as a stormwater retention pond for the planned <br /> improvements and widening of Oslo Road. This Agreement will be an exhibit to the Contract <br /> for Sale and Purchase. A sketch and legal description of the properties is attached to this <br /> agreement as Exhibit A; and <br /> WHEREAS, the County, the Credit Union and Elwill (collectively, the Parties) share <br /> mutual concerns with respect to improvements to Oslo Road; and <br /> WHEREAS, in order to have the stormwater runoff from Oslo Road to reach the <br /> retention pond, the County needs a drainage easement across the Credit Union and Elwill <br /> parcels; and <br /> 1 <br />