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P.0 ATTORNEY'S ATT'ORNEY'S OFFICIE ; <br /> INDIANRl�lEIZ COtSTdTl� 1618911 <br /> THIS DOCUMENT HAS BEEN RECORDED <br /> . 1840 26th Streei IN THE PUBLIC RECORDS OF <br /> ` Ywo 6aache Flodd4 329 INDIAN RIVER COUNTY FL <br /> This document prepared by: BK : 1836 PGA40 , Pagel of 11 <br /> Kelly A. Martinson, Esq . 02/16/2006 at 09 :29 AM , <br /> Florida Communities Trust JEFFREY K BARTON , CLERK OF <br /> Department of Community Affairs COURT <br /> 2555 Shumard Oak Blvd. <br /> Tallahassee, FL 32399 <br /> FLORIDA COMMUNITIES TRUST <br /> FCT AWARD #03 - 084-FF3 <br /> FCT Contract # <br /> ORCA SOUTH LINK <br /> GRANT AWARD AGREEMENT <br /> r <br /> THIS AGREEMENT is entered into this 'fday of iA s , 2004; by and between the <br /> FLORIDA COMMUNITIES TRUST ( "FCT " ) , a nonregulatory agency within the State of Florida <br /> Department of Community Affairs, and INDIAN RIVER COUNTY, a political subdivision of the <br /> State of Florida ( " Recipient" ) , in order to impose terms, conditions, and restrictions on the use of the <br /> proceeds of certain bonds , hereinafter described, and the lands acquired with such proceeds and as <br /> described in Exhibit "A " attached hereto and made a part hereof ( 'Project Site " ), as shall be <br /> necessary to ensure compliance with applicable Florida Law and federal income tax law and to <br /> otherwise implement provisions of Chapters 259 . 105-, 259 . 105 1 , and 380 , Florida Statutes , <br /> WHEREAS , Part III Chapter 380 , Florida Statutes , the Florida Communities Trust Act, <br /> creates a nonregulatory agency within the Department of Community Affairs, which will assist local <br /> governments in bringing into compliance and implementing the conservation, recreation and open <br /> space, and coastal elements of their comprehensive plans or in conserving natural resources and <br /> resolving land use conflicts by providing financial assistance to local governments and nonprofit <br /> environmental organizations to carry out projects and activities authorized by the Florida <br /> Communities Trust Act; <br /> WHEREAS , Section 259 . 105 (3 ) (c) , F . S . , of the Florida Forever Act provides for the <br /> distribution of twenty- two percent (22 %) less certain reductions of the net Florida Forever Revenue <br /> Bond proceeds to the Department to provide land acquisition grants to local governments and <br /> nonprofit environmental organizations through the FCT for acquisition of community-based projects, <br /> urban open spaces , natural resource conservation areas , parks, greenways and outdoor recreation <br /> areas to implement local comprehensive plans ; <br /> WHEREAS , the Bonds were issued as tax - exempt bonds , meaning that the interest on the <br /> Bonds is excluded from the gross income of Bondholders for federal income tax purposes ; <br /> WHEREAS , Rule 9K - 7 , Florida Administrative Code (F .A . C . ) , authorizes FCT to impose <br /> conditions for funding on those FCT applicants whose projects have been selected for funding in <br /> GAA\03 -084-FF3 <br /> November 29 . 2004 1 <br />