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®1� AG O� REEMENT OBETWEEN INDIAN RIVER COUNTY, FLORIDA AND INDIAN RIVER ASSOCIATES II, LLLP (FALCON TRACE) FOR THE CONSTRUCTION OF OFF-SITE UTILITIES THIS AGREEMENT by and between INDIAN RIVER COUNTY, a political subdivision of the State of Florida, the address of which is 1840 25th Street, Vero Beach, Florida 32960 (hereinafter the COUNTY") and, INDIAN RIVER ASSOCIATES II, LLLP, (which is the entity developing the project know as Falcon Trace) the address of which is 1401 University Drive , Suite 200 , Coral Springs , FL 33071 , (hereinafter the DEVELOPER) is effective upon execution by the second of the two parties . WHEREAS , the DEVELOPER, in conjunction with the construction improvements at Falcon Trace, is providing water and wastewater facilities to serve the subject property located at 2105 20`h Ave . SW, Vero Beach, Florida, and more specifically described in Exhibit "A"; and WHEREAS , pursuant to Section 918 . 05 , The Code of Indian River County (Ordinance 90 - 16 , as amended) , the COUNTY, requires the DEVELOPER to provide the utility improvements to serve the regional area, and agrees to reimburse the DEVELOPER, as provided herein, for the cost of providing these off-site utilities, NOW, THEREFORE, for and in consideration of the mutual promises set forth herein and other good and valuable consideration, the COUNTY and DEVELOPER agree as follows : 1 . OFF-SITE UTILITIES • The DEVELOPER shall construct the necessary off-site utilities described herein as directed by the Indian River County Utilities Department. The COUNTY shall reimburse the DEVELOPER for over-sizing of the off-site utilities as outlined below: A. 12 " Water Main (Not Part of Master Plan, reimbursement upon collection of line extension fees) The DEVELOPER shall furnish and install a 12 " PVC Water Main along the Eastern Right of Way of SW 27`h Avenue from SW 17'h Lane to SW 23 `d Street. Reimbursement : The County shall reimburse the DEVELOPER for funds advanced by DEVELOPER to construct the 12 " Water Main required by this paragraph based on the acreage of each of the four properties which will benefit from these facilities as reflected in Exhibit A . The respective acreages and percentages are noted in the attached Exhibit C Item A. The estimated cost to each party is also reflected in Exhibit C , Item A, however the actual cost will be determined upon completion of the improvements at which time the proportionate share for each property will be adjusted accordingly. H:\FALCON TRACE\UMTY AGREEMENT REVISED V9.DOC - I -