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MEMORANDUM OF UNDERSTANDING BETWEEN INDIAN RIVER COUNTY AND THE CITY OF FELLSMERE RELATING TO FUNDING THE PURCHASE OF THE FELLSMERE TRAILHEAD PRESERVE SITE T ' s Memorandum of Understanding ("MOU") is made to be effective as of the day of 2008, by and between Indian River County, Florida, a political subdivision of the State of Florida (the "County") and the City of Fellsmere ("Fellsmere"), a municipal corporation. WHEREAS , Fellsmere received a grant from the Florida Communities Trust ("FCT") to purchase environmentally sensitive lands ; and WHEREAS, Fellsmere and the FCT entered into an Option Agreement for Sale and Purchase on March 11 , 2008 (the "Agreement") to purchase environmentally sensitive lands consisting of approximately 85 . 70 gross acres , generally located in the Northwest corner of I-95 and CR 512 and more particularly described in the Agreement (the "Environmental Lands'), copy of the Agreement is attached hereto as Exhibit "A"; and WHEREAS , the grant and Agreement provide that the FCT will pay ninety percent (90%) of the purchase price based upon the acreage of the Environmental Lands; and WHEREAS , the FCT rules will not allow the County to have a fee simple ownership interest in the Environmental Lands ; and WHEREAS, the acquisition of the Environmental Lands was presented to the Land Acquisition Advisory Committee (the "LAAC") on March 12, 2008 ; and WHEREAS, the LAAC voted unanimously ( 15 -0) to support the acquisition of the Environmental Lands by Fellsmere, with the County contributing ten percent ( 10%) as a cost-share partner in exchange for receiving a conservation easement on the Environmental Lands ; and WHEREAS , at the closing on the purchase of the Environmental Lands, Fellsmere will have a fee simple ownership interest in the Environmental Lands, subject to a Management Plan required by the FCT, a Declaration of Restrictive Covenants, a draft copy of which is attached hereto as Exhibit `B " and a Conservation Easement, a draft copy of which is attached hereto as Exhibit "C" . WHEREAS, on May 13 , 2008 , the Board of County Commissioners of Indian River County held a duly-noticed public hearing, as required by the County' s Environmental Lands Program Guide, commonly known as the "LAAC Guide" . WHEREAS , the County agrees with the recommendation of the LAAC and will fund ten percent ( 10%) of the project acquisition costs for the Environmental Lands at the time of closing on the sale under the Agreement, which at this time is estimated to be $ 542, 873 .00. NOW, THEREFORE , in consideration of the mutual covenants contained herein and for other good and valuable consideration, the County and Fellsmere hereby agree as follows : Page 1 of 3 CWOaIAE~] Ws ocars-IiTmp char WWFelLum sFCT$.6-Mwwnax