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DEVELOPERS AGREEMENT BETWEEN <br /> INDIAN RIVER COUNTY, FLORIDA <br /> AND <br /> INDIAN RIVER ASSOCIATES II, LLLP <br /> FOR FALCON TRACE SUBDIVISION <br /> THIS AGREEMENT , entered this 10th day of August , 2004 by INDIAN <br /> RIVER COUNTY, FLORIDA a political subdivision of the State of Florida, 1840, 25 th Street, Vero <br /> Beach, Florida, 32960 hereafter called COUNTY and INDIAN RIVER ASSOCIATES II, LLLP, <br /> a Florida Limited Liability Limited Partnership , 1401 University Drive, Suite 200, Coral Springs , <br /> Florida, 33071 , hereafter referred to as the DEVELOPER. <br /> WITNESSETH <br /> WHEREAS , the DEVELOPER proposes to develop a small lot subdivision to be known as <br /> Falcon Trace on a 289 acre parcel of land along the east side of 27th Avenue SW south of 17th Lane <br /> SW, (Indian River County Project Number SD030718 ) , which is legally described on Exhibit "A" <br /> attached and incorporated herein by reference, and ; <br /> WHEREAS , development plans for this property were formerly submitted in 2001 by <br /> INDECO , Inc . and called for a residential community including a golf course , and ; <br /> WHEREAS , Indian River Associates II, LLLP is currently the owner of this property and has <br /> submitted a different site plan that is a material change from previous plans submitted, and ; <br /> WHEREAS , the parties agree that in light of the changes in site plans and the passage of <br /> time and other changes that have occurred in the area directly surrounding the development, it has <br /> become necessary to renegotiate the previous developer ' s agreement dated December 11 , 2001 , and; <br /> WHEREAS , the COUNTY and DEVELOPER share mutual concerns with respect to <br /> roadway and drainage improvements for 27th Avenue SW , 21 st Street SW , 17th Lane SW, and 20th <br /> Avenue SW in conjunction with the development of Falcon Trace ; and ; <br /> WHEREAS , both the COUNTY and DEVELOPER can assist each other through a joint <br /> effort that will facilitate improving the roads , providing stormwater treatment , and improving <br /> intersections . <br /> NOW, THEREFORE , in consideration of the mutual terms , conditions , promises, covenants <br /> and premises hereinafter, the COUNTY and DEVELOPER agree as follows : <br /> 1 <br /> H :\Falcon Trace\Falcon Trace dev-Agr5 .doc <br />