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3120250019796 <br />RECORDED IN THE PUBLIC RECORDS OF <br />RYAN L. BUTLER, CLERK OF COURT <br />INDIAN RIVER COUNTY FL <br />BK: 3770 PG: 696 Page 1 of 22 4/22/2025 1:37 PM <br />DEVELOPMENT AGREEMENT BETWEEN <br />INDIAN RIVER COUNTY, FLORIDA <br />AND <br />DRP BOOKBINDER MULTISTATE, LLC <br />THIS DEVELOPMENT AGREEMENT, is made by and between INDIAN RIVER <br />COUNTY, a political subdivision of the State of Florida, the address of which is 1801 27th <br />Street, Vero Beach, Florida 32960 (the "County") and DRP BOOKBINDER MULTISTATE, LLC, <br />a Delaware Limited Liability Company, the address of which is 520 Madison Avenue, 21 St <br />Floor, New York, NY 10022 (the "Developer"), for HARMONY ISLES, and is effective upon <br />execution by last of the parties hereto (the "Agreement"). <br />RECITALS: <br />WHEREAS, Developer is the owner of approximately 116.86 acres located at 1375 <br />98th Ave., Vero Beach, FL 32966 and as more specifically described in Exhibit "A" attached <br />hereto (the "Property"); and <br />WHEREAS, Developer proposes to develop the Property into a total of 384 <br />residential units, consisting of 237 single-family lots, and 147 townhouse units, pursuant to <br />the approved Harmony Isles subdivision, which is the subject of Ordinance No. 24-004; <br />("HI Development"); and <br />WHEREAS, GO LIFE HOLDING, LLC is also developing a single-family residential <br />subdivision ("GLH") known as Venetian Grove Subdivision ("GLH Development") adjacent <br />to the Property located at 12th Street, Vero Beach, and more specifically described in the <br />GLH Agreement described below; and <br />WHEREAS, as part of the GLH Development, the County requires off-site utility <br />improvements to connect to the regional watermain and force main (the "Improvements") <br />and has entered into that certain Developer's Agreement with GLH for said construction <br />improvements to be constructed by GLH (the "GLH Agreement"). The GLH Agreement is <br />attached hereto as Exhibit "B"; and <br />WHEREAS, per the GLH Agreement, GLH shall complete construction of the off-site <br />utility improvements in the form of installation of a twelve inch (12") watermain extension <br />generally from the vicinity of 8th Street and 90th Avenue to the vicinity of 8th Street and <br />98th Avenue which can either be accomplished by boring under 1-95 or by going south <br />along 90th Avenue to 4th Street, then along 4th Street from 90th to 98th and then back up <br />