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SATISFACTION AND PAYMENT AGREEMENT � 3
FOR REQUIRED IMPROVEMENTS o� D 110? ®
THIS AGREEMENT ("Agreement" ) is made and entered into by DIVOSTA
HOMES , L . P . , a Delaware limited partnership authorized to do business in the State of
Florida , whose address is 9240 Estero Commons Boulevard , Estero , FL 33928
(" DiVosta " ) and INDIAN RIVER COUNTY , a political subdivision of the State of Florida ,
whose address is 1801 27th Street , Vero Beach , FL 32960 ( " County" )
WITTNESSETH :
WHEREAS , DiVosta is the owner and developer of Waterway Village , a
Development of Regional Impact located east of 58th Avenue , between 49th Street and
the North Relief Canal ;
WHEREAS , pursuant to Chapter 380 , Florida Statutes , DiVosta has entered into
a Development Order with the County dated November 9 , 2004 , which order was
amended and restated by Resolution 2010 - 037 , dated May 11 , 2010 ( Development
Order) ; and
WHEREAS , the Development Order requires DiVosta to perform various
infrastructure improvements brought about as a result of the impact of their
development ; and
WHEREAS , pursuant to paragraph 58 of the Development Order , DiVosta was
required to enter into an agreement with the County to install a 12 inch diameter master
planned water main and a 12 inch diameter master planned force sewer main lines
along 53rd Street from 58th Avenue to their eastern property line , which mains were in
excess of what was necessary to accommodate their development ; and
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WHEREAS , the over sized water and sewer mains will benefit the County and its
residents by providing improved service to the residents who do not live on the DiVosta
property ; and
WHEREAS , the County agreed in the Development Order to reimburse DiVosta
for the proportionate costs of over sizing the water and sewer mains as county residents
not residing within Waterway Village would be benefited ; and
WHEREAS , DiVosta has completed the installation of the over sized water and
sewer mains in compliance with the Development Order to the satisfaction of the
County ; and
WHEREAS , DiVosta has conveyed its interest in the water and sewer mains to
the County ; and
WHEREAS , the County has accepted the improvements ,
NOW , THEREFORE , based on the premises above and in consideration of the
mutual covenants contained herein , the parties hereby agree with the following terms
and conditions :
1 . The County acknowledges that DiVosta has completed the required
improvements mandated by paragraph 58 of the Development Order .
2 . The County has accepted the improvements constructed and installed by
DiVosta by way of a Bill of Sale Absolute , see attached memo dated August 21 ,
2008 .
3 . The County within 30 days of the date of approval of this Agreement by the
Board of County Commissioners shall pay to DiVosta the sum of $ 315 , 785 . 62 in
full and final satisfaction of all payments required by paragraph 58 of the
Development Order .
4 . DiVosta shall accept this lump sum payment in lieu of the five annual payments ,
and any other obligations of the County , as detailed in the Development Order .
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5 . DiVosta shall convey utility easements to the County over the water and sewer
improvements for the County to maintain , repair or replace such improvements .
6 . Miscellaneous . Time is of the essence of this Agreement . This Agreement is
made in the State of Florida and shall be governed by Florida law . This is the
entire Agreement between the parties and may not be modified or amended
except by a written document signed by all parties to this Agreement . This
Agreement may be signed in more than one counterpart , in which case each
counterpart shall constitute an original of this Agreement . Paragraph headings
are for convenience only and are not intended to expand or restrict the scope or
substance of the provisions of this Agreement . Wherever used herein , the
singular shall include the plural , the plural shall include the singular , and
pronouns shall be read as masculine , feminine , or neuter as the context requires .
The prevailing party in any litigation , arbitration , mediation , or appeal relating to
this Agreement shall be entitled to recover its reasonable attorney ' s fees and
costs from the other party for all matters . Indian River County , Florida , shall be
the proper venue for any litigation involving this Agreement . This Agreement
shall bind and inure to the benefit of the parties and their respective successors
and assigns . This Agreement is made in consideration of the mutual covenants
and agreements stated herein , the sufficiency of which is hereby acknowledged
by both parties . If any provision of the Agreement is held to be illegal , invalid or
unenforceable under present or future laws , such provision shall be fully
severable . This Agreement shall be construed and enforced as if such illegal ,
invalid or unenforceable provision had never comprised a part of this Agreement ,
and the remaining provisions of this Agreement shall remain in full force and
effect and shall not be affected by such illegal , invalid , or unenforceable
provision .
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IN WITNESS WHEREOF , the parties have executed this Agreement on the
dates indicated below .
DiVOSTA HOMES , L . P . INDIAN RIVER COUNTY
A Delaware Limited Partnership BOARD OF COUNTY COMMISSIONERS
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Print title : dice PjrtBob Solari , Chairman
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DiVosta Homes Holdings L . L . C .
A Delaware Limited Liability Company
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Its General Partner
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Witnesses : Attest : J . K . Barton , Clerk no ago ad *
Print nameDeputy Clerk
� 6L ��,rJc �h BCC Approved : May 17 , 2011
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Approved :
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teph A. aird , County Administratored as to legal form and sufficiency :
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William K . D6BraaI
Deputy County Attorney
STATE OF Fioaio4
COUNTY OF 10
The foregoing instrument was acknowledged before me this /dam day of May
2011 , by WiWea Mc Cozmfcr as ✓icF I?ZFsrofr r LANo of Divosta
Homes , L . P . , a Delaware limited partnership , who is personally known to me or- w t +-as
-piedneed as4den ifieatian .
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PATRICK BUTLERMMISSION # DD 10000904 PIRES: June 18, 2014
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