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18 . Recording of Agreement : <br /> This Agreement may be recorded in the official records of Indian River County by the COUNTY . If <br /> recorded, the obligations defined in this Agreement shall run with the land and shall bind subsequent <br /> owners of the property for the term of this Agreement. The DEVELOPER shall pay for all recording cost. <br /> 19 . Severability / Invalid Provision : <br /> If any provision of the Agreement is held to be illegal, invalid or unenforceable under present or future <br /> laws, such provision shall be fully severable ; this Agreement shall be construed and enforced as if such <br /> illegal, invalid or unenforceable provision had never comprised a part of this Agreement, and the <br /> remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by <br /> such illegal , invalid, or unenforceable provision or by its severance from this Agreement. <br /> 20 . Term: <br /> The term of this Agreement is five (5) years . Unless otherwise agreed to by the parties in writing, this <br /> Agreement shall not be renewed automatically for successive terms . Notwithstanding the foregoing, this <br /> Agreement shall be coterminous with FDEP Permit for construction and with the County' s Utility <br /> Construction Permit, whichever provides a shorter time period, but shall be not more than five (5 ) years <br /> from the date of issuance . The County may terminate this Agreement early in its sole discretion if it <br /> determines that the development project intended to be served by the improvements is suspended or <br /> discontinued. <br /> 21 . Time of Essence : <br /> Time is of the essence of this Agreement ; however, if the final date of any period which is set out in any <br /> provision of this Agreement falls on a Saturday, Sunday or legal holiday under the laws of the State of <br /> Florida, then, in such event, the time of such period shall be extended to the next day which is not a <br /> Saturday, Sunday or legal holiday. <br /> MWALCON TRACEM111TV AGREEMENT REVISED V9.DOC . 7 - <br />