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2009-R-01 RESOLUTION #2009-R-Ol A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF EDGEW ATER, FLORIDA; AUTHORIZING PARTICIPATION AND EXECUTION OF A CAPACITY ENHANCEMENT AGREEMENT, WHICH IS A TRI-PARTY AGREEMENT BETWEEN THE CITY OF EDGEWATER, VOLUSIA COUNTY SCHOOL BOARD AND HAMMOCK CREEK GREEN, LLC PURSUANT TO REQUIREMENTS ESTABLISHED IN THE FIRST AMENDMENT TO THE INTERLOCAL AGREEMENT FOR PUBLIC SCHOOL FACILITY PLANNING; PROVIDING FOR RECORDING INTO THE PUBLIC RECORDS OF VOLUSIA COUNTY; REPEALING RESOLUTIONS IN CONFLICT HEREWITH; PROVIDING FOR ESTABLISHING AN EFFECTIVE DATE AND ADOPTION. WHEREAS, the City of Edgewater, Florida has made the following determinations: 1. Pursuant to Section 163.31777, Florida Statutes, all municipalities within the geographic area of a school district to enter into an interlocal agreement with the district school board to jointly establish coordination regarding public school concurrency and public school facility planning; and 2. In 2003, the City entered into an Interlocal Agreement for Public School Facility Planning to allow the coordination of comprehensive land use and school facilities planning programs and subsequently executed an amendment to said interlocal agreement in 2007; and 3. The City agrees that strong and healthy schools are critical to community success, are cornerstones of effective neighborhood design, and a focal point for development of community plans and improvements. 4. Sec. 90-77 of Ordinance No. 2007-37, 91,5-24-07 of the Code of Ordinances of V olusia County and Sec. 4(B) of the First Amendment to the Interlocal Agreement for Public School Facility Planning require a Finding of Adequate School Capacity be issued for the Restoration Development of Regional Impact (DR!) prior to the adoption of a Comprehensive Plan Amendment by the City; and 1 2009-R-Ol 5. In order to address the impact to the School Board of the students to be generated from the increase in residential density associated with the DR!, the Developer is desirous of mitigating the costs of those impacts by providing a dedication of two school sites within the Project to the School Board as is described in more detail in Exhibit "A" as well as complying with the provisions of school concurrency; and 6. Due to the pending, but as yet not adopted, DR! Development Order and Comprehensive Plan Amendment, it is impossible for the School Board and the Development to accurately estimate the actual impact of the DR! upon the Project Schools; and 7. Notwithstanding this uncertainty, the Developer and the School Board desire to enter into this Agreement with the City of Edgewater, to require the Developer to comply with the capacity enhancement methodology set forth herein consistent with the requirements of g206 of the Volusia County Charter and School Board Policy 612. NOW, THEREFORE, be it resolved by the City Council of the City of Edgewater, Florida as follows: Section 1. In an effort to further enhance coordination for public school facility planning, the City of Edgewater, hereby authorizes participation and approval of the Capacity Enhancement Agreement between the City of Edgewater, the V olusia County School Board and Hammock Creek Green, LLC. Section 2. The City Council hereby authorizes the Mayor and Acting City Manager to execute the Capacity Enhancement Agreement and for the City Clerk to transmit the Agreement to participating entities. Section 3. City Council further agrees for an original Capacity Enhancement Agreement to be delivered to the Clerk of Court for recording into the Public Records of V olusia County, Florida. Section 4. All resolutions or parts of resolutions in conflict herewith be and the same 2 2009-R-01 are hereby repealed. Section 5. This resolution shall take effect immediately upon its adoption. After a motion to approve by ~e.swith second by Section 6. ColL('{lil\IJl.,'mM~(ln(),~ktthe vote on this resolution was as follows: AYE NAY Mayor Mike Thomas Councilwoman Debra J. Rogers Councilwoman Gigi Bennington Councilwoman Harriet B. Rhodes Councilman Ted Cooper PASSED, APPROVED AND ADOPTED this 5th day of January, 2009. ATTEST: ~"IWlJl \~~ 0 Bonnie Wenzel City Clerk ~~Q~ Robin L. Matusick Paralegal For the use and reliance only by the City of Edgewater, Florida. Approved as to form and legality by: Carolyn S. Ansay, Esquire City Attorney Doran, W oIre, Ansay & Kundid Approved by the City Council of the City of Edgewater at a meeting held on this 5th day of January, 2009 under Agenda Item No. 7C- . 3 2009-R-Ol I . . AFTER RECORDING RETURN TO: Saralee L. Morrissey, Facilities Department VOLUSIA COUNTY SCHOOL DISTRICT 3750 Olson Drive Daytona Beach, FL 32124 SCHOOL PLANNING CAPACITY ENHANCEMENT AGREEMENT File 08-001 VCSB Proiect Name: Restoration City of Edaewater THIS SCHOOL CAPACITY ENHANCEMENT AGREEMENT ("Agreement") is made this ,1=)-1-"- day of J{)J)U(~LJ ' 2006 ("Effective Date") by and between THE SCHOOL BOARD OF VOLUSIA COUNTY, FLORIDA, a public corporate body organized and existing under the Constitution and laws of the State of Florida, whose address is 200 N. Clara Avenue, DeLand, Florida 32721 ("School Board") and HAMMOCK CREEK GREEN, LLC, a Delaware limited liability company ("Developer"), whose address is 300 International Parkway, Suite 130, Lake Mary, Florida 32746, and the CITY OF EDGEWATER, Florida, a municipal corporation whose address is 104 North Riverside Drive, Edgewater, Florida 37132 ("City"). WITNESSETH: WHEREAS, Developer is the fee simple owner of that certain property located in the City of Edgewater ("City"), Volusia County, Florida more particularly described in Exhibit "A" attached hereto and by this reference made a part hereof, hereinafter referred to as the "Property;" and 102392116.13 WHEREAS, at the time this Agreement was approved by the School Board, the Property is currently zoned to the Chisholm and Edgewater Elementary, _New Smyrna Beach Middle and New Smyrna Beach High Schools (individually, a "Project School" and collectively "Project Schools"); and WHEREAS, the School Board does not currently have any new schools programmed or anticipated to accommodate students generated by the Project; and WHEREAS, the Developer is currently seeking both a Development of Regional Impact (''DR I") approval and a Comprehensive Plan Amendment for the Property in order to develop a mixed-use community within the City known as "Restoration;" and WHEREAS, the currently proposed development program for Restoration includes approximately 4,409 single-family residential units and 4,091 multi-family residential units (the "New Units"); and WHEREAS, the total number of residential .units will not exceed 8,500 units, exclusive of accessory dwelling units; and WHEREAS, as of the date of this Agreement the final number of New Units to be permitted remains subject to the DRI approval process and the modification of the Comprehensive Plan of the City and will be specified in the final DRI Development Order and Comprehensive Plan Amendment issued by the City for the Restoration project; and WHEREAS, following adoption of both the DRI Development Order and Comprehensive Plan Amendment by the City, the Developer will be required to 2 102392116.13 apply for and receive approval of a final site plan(s) or final plat(s), as applicable, from the City, and said approval(s) will determine the exact number of New Units which may be constructed on the Property pursuant to said final site plan(s) or plat(s) from time to time; and WHEREAS, the City, Developer and School Board recognize, understand and agree that the number may be fewer than the maximum number of residential dwelling units permitted by the DRI Development Order or that the allocation between single-family and multi-family units may be different than set forth in the DRI Development Order; and WHEREAS, Sec. 90-77 of Ordinance No. 2007-37, ~I, 5-24-07 of Code of Ordinances of Volusia County requires a Finding of Adequate School Capacity be issued for the Property prior to the adoption of a Comprehensive Plan Amendment by the City; and WHEREAS, the School Board recognizes that overcapacity and unplanned conditions will adversely affect the educational services provided at any given school and the School Board believes that the proposed development of the New Units has the potential to adversely impact the level of service and permanent capacity in the Project Schools; and WHEREAS, in order to address the impact to the School Board of the students to be generated from the increase in residential density associated with the New Units, Developer is desirous of ameliorating the costs of those impacts by providing a dedication of two school sites within the Project to the School Board as 3 102392116.13 is described in more detail below as well as complying with the provisions of school concurrency; and WHEREAS, due to the pending, but as yet not adopted, DRI Development Order and Comprehensive Plan Amendment, it is impossible for the School Board and Developer to accurately estimate the actual impact of the New Units upon the Project Schools; and WHEREAS, notwithstanding this uncertainty, Developer and the School Board desire to enter into this Agreement to require Developer to comply with the capacity enhancement methodology set forth herein consistent with the requirements of S206 of the Volusia County Charter and School Board Policy 612. NOW, THEREFORE, in consideration of the premises, the mutual covenants contained herein, and other good and valuable considerations, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound hereby agree as follows: 1. Recitals. The foregoing recitals to this Agreement are hereby incorporated by reference and made a part of this Agreement as if fully restated forth herein. 4 102392116.13 2. DRI Development ProQram. The parties acknowledge that the Project's proposed development shall occur in three phases, anticipated as follows: Phasing Schedule Total Dwelling Units Single Family Multi-family Total Phase I 2,696 526 3,222 2007-2013 Phase II 1,713 515 2,228 2013-2018 Phase III 0 3,050 3,050 2019-2023 TOTAL 4,409 4,091 8,500* * Exclusive of accessory dwelling units Accessory dwelling units are permitted as part of the housing mix within the Project and will be subject to school concurrency review. Notwithstanding the foregoing, the parties hereto acknowledge that the phasing schedule is subject to change as the anticipated DRI Development Order moves through the approval process, or as subsequent changes to the 'same are processed over the life of the project either through the utilization of the Exchange Matrix included as part of the DRI Development Order or through changes to the same processed as a, Notice of Proposed Change ("NOPC") pursuant to 99380.06(19), F.S. The Developer shall give written notice to School District Staff of any proposed changes to the phasing schedule, including but not limited to any changes to the number or type of residential dwelling units to be constructed in each respective phase and the School District Staff shall be copied on all approved amendments or modifications to the DRI Development Order which constrict, expand or reallocate the total number or type of residential units authorized by the DRI Development Order. Any proposed change to the phasing schedule shall be 5 ]02392] 16.13 required to be (re)evaluated by the School District Staff pursuant to the School Board's current school concurrency review process. This will be done to determine if any change, including but not limited to, phasing and/or unit type conversion negatively impacts the Project Schools or previously projected school needs. 3. Calculation of School Impacts. For the purposes of determining school capacity and school concurrency, the impacts to the Project Schools of the students to be generated from the New Units shall be calculated in accordance with the methodologies described within School Board Policies 612 and 613 in effect at the time of evaluation. The initial review is based upon the number and type of units indicated in the DRI Development Program phasing schedule contained in Paragraph 2 of this Agreement. Any other variations are subject to additional school concurrency review. 4. Capacity Enhancement (a) School Impact Fee Payment. Developer acknowledges that the capacity enhancement contribution described below does not release the Developer from payment of any other development, building related fees, or school impact fee, including but not limited to Volusia County Educational Facilities Impact Fees prescribed by Section 70-170, Article V, Volusia County Code (the "School Impact Fee Ordinance"). (b) Developer's Capacity Enhancement Contribution. In order to allow the School Board to have sufficient capacity to accommodate, In a timely manner, the demand created by the impact of the students to be generated from the increase in residential density associated with the approval of the Comprehensive Plan Amendment and development of these New Units, the DRI 6 102392116.13 Development Order for the Project will require Developer to convey to School Board two (2) parcels within the Property consisting of approximately eighty-five (85) total developable acres, +/-, (the "Donated Land"). The Donated Land is comprised of two, non-adjacent parcels located in separate portions of the Property, the locations of which are depicted generally on the DRI Map H attached hereto as Exhibit "B." School Board shall be entitled but not obligated to construct Educational Facilities on these parcels, such Educational Facilities' types and sizes to be determined solely by the School Board. For the purposes of this Agreement, the term "educational facilities" shall be defined as an elementary, middle or high school facility or other grade organization (the "Educational Facilities"). Subject to the provisions of Paragraph 4(d)(v) Additional Rights of the School Board and Developer, if the School Board desires to construct other types of facilities upon the Donated Land which may not be consistent with surrounding land uses within the Project, Developer agrees to cooperate with the School Board in order to find an alternative location within the Project that would better accommodate the substitute use. Upon recording this Agreement and the final adoption of the DRI Development Order requiring the conveyance of the Donated Land, the School Board shall issue to the Developer a Finding of Adequate School Capacity for the benefit of the Property. This Finding of Adequate School Capacity is applicable only to the comprehensive plan amendment and rezoning stages of the subject land/project. All subdivision plats and/or residential site plans shall be subject to school concurrency review and approval. 7 102392116.13 (c) School Impact Fee Credits. School impact fee credits shall be granted for any eligible dedication or donation required by school concurrency evaluations. Developer agrees to provide the Donated Land for a value of $16,000.00 per acre or appraised value, as determined by the School Board's appraisal, whichever is less (the "Donated Land Value"). The Donated Land Value as determined herein is subject to school impact fee credits pursuant to the provisions of Section 70-181(b), Volusia County Code. School Board acknowledges that Developer has agreed to the Donated Land Value which Developer believes is less than the fair market value of the property, and that Developer may claim the difference between the Donated Land Value and that value believed by Developer to be representative of fair market value as a charitable contribution for income tax purposes. At the time the Donated Land is conveyed, School Board agrees to execute and deliver to Developer Part IV, Donee Acknowledgement section of Internal Revenue Service Non-Cash Charitable Contributions Form Number 8283, or such other documentation in a format approved by Developer and School Board's counsel, which does not create any liability or expense to School Board, but is satisfactory for IRS purposes. Upon agreement of the parties hereto, the donation could be encompassed in one or more deeds from Developer to School Board in a manner consistent with this Agreement. Developer agrees to indemnify and hold harmless School Board upon conveyance of the Donated Land with regard to Developer's claimed charitable contribution. Developer agrees to indemnify and hold harmless School Board at the time of conveyance with regard to Developer's Federal tax treatment of the conveyance whether claimed as a charitable contribution or otherwise. 8 102392116.13 (d) Donation of Property. (i) Locations of Donated Land. The general locations of the Donated Land are depicted, as of the Effective Date of this Agreement, on Map "H" attached as Exhibit "B"; however, the final locations will be determined during the City's development approval process for the Property with input from the Developer and the School Board. The School Board has ultimate authority over the location of the Donated Lands. The School Board's criteria for the Donated Lands shall include but not be limited to 1) An approximate twenty-five (25) acre developable site in a square or rectangular configuration located within or immediately adjacent to a residential area with direct access on two public roads and adequate water, sewer, and fire services extended to the property. At the time of its dedication, the site shall not be located within the .100 year flood plain. The stormwater and drainage needs of the site in its developed condition shall be met by the Developer on other lands not intended to be owned or conveyed to the School Board. Environmental limitations and mitigation, if any, including but not limited to wetlands and endangered or threatened species, shall also be met by the Developer on other lands not intended to be owned or conveyed to the School Board. 2) An approximate sixty (60) acre developable site in a square or rectangular configuration located adjacent to a residential area with direct access on two public roads and adequate water, sewer, and fire services extended to the property. At the time of its dedication, the site shall not be located within the 9 102392116.13 100 year flood plain. The stormwater and drainage needs of the site in its developed condition shall be met by the Developer on other lands not intended to be owned or conveyed to the School Board. Environmental limitations and mitigation, if any, including but not limited to wetlands and endangered or threatened species shall also be met by the Developer on other lands not intended to be owned or conveyed to the School Board. School Board shall have the right to access the Donated Land for due diligence before the property is donated to the School Board. School Board shall have the right to inspect the Donated Lands within a 270-day time period and to complete its normal due diligence on the site within that inspection period prior to conveyance. If during the inspection and due diligence review, matters arise which need to be addressed in order for the School Board to receive a fully functional school site, Developer agrees to cooperate with School Board in the resolution of those matters. (ii) Timing. The conveyance of the Donated Land shall occur on the earlier of: (a) approval by the City of a final site plan or final plat for the 2,OOOth residential dwelling unit or issuance of a certificate of occupancy for the same; or (b) upon approval by the City of all or a portion of the Property wherein the portion of the Property to be platted is to include one or the other parcels of Donated Land. Following the recordation of a final plat or issuance of the 2000th certificate of occupancy, whichever shall occur first, the Developer shall convey to the School Board one or the other or both parcels of the Donated Land if the same have been included in the subject plat upon completion of the School Board's inspection period and due diligence. The Parties agree that the School Board 10 102392116.13 may require either or both parcels of Donated Land for school construction at a point in time that is earlier in the development of the Project than the Developer might have contemplated, and therefore, the School Board may, upon one hundred eighty (180) days notice to the Developer, require the Developer and School Board to proceed to the inspection period and due diligence activity to prepare for the conveyance of either or both of the parcels of Donated Land so that the sites may be ready for development of Educational Facilities within eighteen (18) months following receipt of notice to convey from the School Board to the Developer. (iii) Conveyance Procedure. In all events, the Developer's conveyance of the Donated Land to the School Board shall be made in accordance with the School Board's then current policy for the acceptance of dedicated or conveyed lands. The Developer shall convey marketable title to the same together with easements for off-site stormwater treatment and drainage necessary for the development of the school site, all of which shall be subject to the reasonable review and approval of the School Board, free and clear of all encumbrances. Requirements for the actual conveyance of the Donated Land(s) shall include but not be limited to a statutory warranty deed, payment by the Developer for title insurance, documentary stamps, recording fees, and curing of title defects, if any, and environmental site clean up, if any. (iv) Off-site Infrastructure Improvements. Developer will complete all off-site infrastructure improvements to the relevant portion of Donated Land in order to meet the time requirements of School Board for planning, design, construction and operation of the applicable school. "Off-site Infrastructure Improvements" shall include, without limitation, publically dedicated paved access 11 102392116.\3 roads accepted for maintenance by the City and/or Volusia County, electric power, telephone, cable TV, sewer and water, and stormwater facilities, all to the boundary or entrance of the applicable school site at a point reasonably acceptable to School Board and Developer. Sewer and potable water facilities incidental to the Project shall be dedicated to and maintained by the City. Stormwater incidental to this Project shall be maintained by a Community Development District formed pursuant to Chapter 190, F.S. Other utility infrastructure, including without limitation cable television, will be maintained by the appropriate utility provider with jurisdiction over the same. In the event any of the foregoing are not publically dedicated, then they shall be located in easement areas for which easements shall not be capable of defeat. Maintenance requirements associated with such easements shall be borne by the City. All' of the Off-site Infrastructure Improvements as provided herein shall be sufficient to meet School Board requirements for operation of a school on the Donated Land. Developer also agrees to grant temporary easements to School Board from publically dedicated roads and utilities to the boundary of the relevant portion of Donated Land for ingress and egress and construction access and temporary utilities at the time the property is donated to the School Board, which temporary easements shall not be capable of defeat, and which easements shall remain in place until the Off-site Infrastructure Improvements are completed. The Off-site Infrastructure Improvements shall be completed prior to the opening of any school facility upon the Donated Land. The purpose of such temporary easements is to enable the School Board to have legal access to the Donated Land at all times and to have access to the school sites for purposes of constructing the schools, before permanent dedicated and improved access to each school site is complete. 12 102392116.13 Such easements shall not be terminated until the recordation of the final plat dedicating the permanent roads and utilities. The stormwater treatment system for development on the Donated Land and on the remainder of this Project will be maintained by a Community Development District formed pursuant to Chapter 190, F.S., a home owners' association or property owners association formed for that purpose, or failing that the Developer will remain responsible for the continued administration and maintenance of the stormwater treatment system until one or the other of the identified entities is formed and assumes the task of operation and maintenance of the stormwater system such that the use and development of the Donated Land under and pursuant to this CEA shall not be delayed or compromised. In any event, the School Board shall not be responsible for payment of any assessment, dues or any other charges under any such entity" (v) Additional Rights of School Board and Developer. Following conveyance of the Donated Land by Developer, the School Board shall have the right to dispose of the Donated Land to any unrelated third party. The Developer shall have the right of first refusal for the subject land. The School Boad shall obtain an appraisal and offer to the Developer for the appraised value. The Developer shall have thirty (30) days in which to accept, reject or provide a counteroffer. School Board shall have no obligation to accept an offer less than the appraised value. In the event that the developer declines said purchase, the School Board shall have the opportunity to dispose of the property in the Board's best interest. (e) School Concurrency Review. Notwithstanding the commitments made by Developer under this Agreement, upon submission of an application for 13 102392116.13 Preliminary Plat, Site Plan, or Subdivision Plan, Developer shall be required to undergo school concurrency review in accordance with the requirements of Volusia County School Board Policy 613. The School Board shall be copied on all Biennial Reports required under the Project's DRI Development Order. 5. Developer Representations and Covenants: Joinder bv City In the event the Developer breaches any of the terms set forth in this Agreement, the School Board shall provide the City and Developer with a written notification explaining the circumstances of said breach(es) and the remedy to correcUresolve said breach(es). Within ten (10) days of receipt of School Board's notification, Developer shall have thirty (30) days within which to cure all noted deficiencies. If Developer fails to remedy the breach(es) within the thirty (30) day time period, the City shall discontinue the issuance of all residential building permits and certificates of occupancy for the residential units upon the Property and shall discontinue the processing of any residential approvals for the Property. Notwithstanding the foregoing, nothing herein shall preclude the School Board from waiving all or any portion of any breach by the Developer so as to allow residential development to continue. Developer represents and warrants to School Board and the City that this Agreement has been entered into freely and voluntarily by Developer without coercion, duress, or undue influence, and with full understanding and awareness of the circumstances, consequences and ramifications of such a waiver. Developer waives the right to bring any action against School Board or City and is estopped from claiming in any future litigation that the conditions of this Agreement are illegal, improper, unconstitutional or in violation of statute or law. The parties hereto intend that the City shall be a party to and a beneficiary of the waiver, 14 102392116.\3 ~ representations and warranties contained in this paragraph and as a party to this Agreement shall be fully entitled to rely upon and enforce any and all provisions of the same that lie within its sphere of responsibility. Accordingly, the City shall execute this Agreement in the space provided to signify its joinder in the same. School Board shall rely upon the assertions made in this Agreement and agrees to issue its certification based upon Agreement's execution by all Parties. 6. Miscellaneous. (a) Term. This Agreement shall remain in force through the build- out date of the Property's DRI Development Order, unless the Agreement is otherwise terminated by the parties hereto. In the event that, for any reason, the Property's DRI Development Order is not approved, this Agreement shall be null and void. (b) Recordinq; Runs with Land. This Agreement shall be recorded in the Public Records of Volusia County, Florida by the School Board and the recording fee shall be paid by Developer. This Agreement shall bind the successors and assigns of Developer, the School Board and the City and shall be deemed to be a burden on and running with the Property. (c) School Attendance Areas. The parties agree that nothing in this Agreement shall be interpreted to restrict the School Board's sole authority to determine school attendance areas. Pursuant to Section 612, Volusia County School Board Policies, the needed capacity improvements, as determined by the implemented School Concurrency program, will be placed in the School Board's Five Year Work Plan no later than the time of approval by the City of a final site plan or final plat for the 2,OOOth residential dwelling unit. 15 102392116.13 (d) Notices. All notices, demands, requests, consents, approvals, and other communications (collectively, "Notices"), required or permitted to be given hereunder, shall be in writing and sent by facsimile (or bye-mail or by similar device) or by either: (i) registered or certified air mail, postage prepaid, return receipt requested; or, (ii) special delivery service (e.g., Federal Express, UPS, etc.); addressed to the party to be so notified as follows: If to Developer, to: with a copy to: If to School Board, to: with a copy to: 102392116.13 Donald Mears Hammock Creek Green, LLC 300 International Parkway, Suite 130 Lake Mary, FL 32746 Phone: (407) 942-0040 Fax: (407) 942-0068 Email: don@gs-f1orida.com Baker & Hostetler, LLP Attn: Ted R. Brown, Esq. I Allison E. Turnbull, Esq. SunTrust Center, Suite 2300 200 South Orange Avenue Orlando, Florida 32801 Phone: (407) 649-4000 Fax: (407) 841-0168 Email: trbrown@bakerlaw.com; aeturnbull@bakerlaw.com Saralee L. Morrissey School Board of Volusia County 3750 Olson Drive Daytona Beach, FL 32124 Phone: (386) 947-8786 X50772 Fax: (386) 947-5847 Email: smorriss@volusia.K12.fl.us City Manager City 'of Edgewater 104 North Riverside Drive Edgewater, FL 37132 Attention: Tracey Barlow Phone: 386-424-2400 Fax: 386-424-2409 Email: citymanager@cityofedgewater.org 16 ;" The address or party to whom notice shall be sent may be changed at any time by either party by delivery of Notice to the other. (e) Entire AQreement. This Agreement constitutes and contains the entire agreement and understanding of the parties with respect to the subject matter hereof and it may be modified only by a written document executed by all parties hereto. The parties hereby acknowledge there are no representations, understandings, agreements, terms or conditions not contained or referred to in this Agreement and that this Agreement supersedes any prior written or oral agreements, representations, or inducements. (f) Applicable Law. This Agreement shall be interpreted and construed in accordance with the laws of the State of Florida. (g) Attorney's Fees. In the event that either party shall be required to enforce the terms of this Agreement, the prevailing party shall be entitled to recover the costs spent on enforcement from the other, including but not limited to attorneys' fees and paralegals' fees for pre-trial, trial, and the cost of any appeal. (h) Headinqs. The section and paragraph headings in this Agreement are for convenience only and do not contribute to or diminish the substantive portions of this Agreement. (i) Counterparts. This Agreement may be executed in one or more counterparts, which when combined, shall constitute one original agreement. 17 102392116.13 0) Construction of Aqreement. Each party has participated in the drafting of this Agreement. In the event of a dispute hereunder, this Agreement shall not be construed in the favor of any party. (k) Mutual Cooperation. The parties acknowledge and agree that, due to the development of the Project as a DRI and the length of time required to achieve build-out, circumstances may arise that are unanticipated at the time of this Agreement and are therefore not contemplated under its terms. As such, the parties agree to cooperate throughout the life of the Project in order to address any such unforeseen circumstances and work together in good faith to reach a resolution of the same. [Signature blocks appear on following pages.] 18 102392116.13 IN WITNESS WHEREOF, the parties have executed this Agreement the day and year as first set forth above. THE SCHOOL BOARD OF VOL By: ~JJ. 7?iL1hwtv '4(i!oess~s Sig{latLtre '. . ~W~ll~0 (dT. c:Vl12{{0lt.1i ~tName ~ A AA~. ~ . V~esses Sig ture ~ ..)tA.rctle e.- L. (>J(Jr/'I.sS-e..l1 Print Name / STATE OF FLORIDA COUNTY OF VOLUSIA On this 9~, day of j),.( ('.~..-.-'tr ,2008, before me, an officer qualified to take acknowledgments, personally appeared f!!!f;J who produced as identification or ~ who is personally known to me to be the person described in and who executed the foregoing and who ( ) did or ( ) did not taken an oath and he acknowledged before me that the above is true and correct to the best of his knowledge. 9~ WITNE~ . my hand and official seal in the State and County aforesaid, this -day of / ~(" e.r.- 6e-r- ,2008. - Notary uOlic, State of Florida My Com 'ssion Expires: Lj-rl-c? ",UH", KA l~<I>r"'~' REN A. GIESElMAN N :;~ MY COMMISSION' DO 385768 <;j-... ...;ll EXPIRES: April 19, 2009 '~,~r.lf.\"" Bonded Thru Notery PttlIic Urdetwrtt'FI Attest: ~ ~.~ Mat A. Smith, D.Ed., Secretary 19 102392116.13 . I STATE OF FLORIDA COUNTY OF VOLUSIA On this 9-f'L, day of ~j)-e~' l--.- Lvt',2008, before me, an officer qualified to take acknowledgments, personally appeared U who produced as identification or ~ who is personally known to me to be the person described in and who executed the foregoing and who ( ) did or ( ) did not taken an oath and he acknowledged before me that the above is true and correct to the best of his knowledge. 4V~WITNESS my hanZd and official seal in the State and County aforesaid, this -L.::.day of Ue~'.e......-.ed" , 2008. - l~\.:;.trit;;... KAREN A. GIESElMAN ~~ "@~}*1 MY COMMIS~I~ . DO 385768 .-:.~tl EXPIRES. April 19. 2009 '.'lr..'Ji1<' Bonded TIlIu N~ry PtlIlIit u__... c_._. Notary P lie,' State of Florida My Commis ion Expires: 0/9- ([ / 20 102392116.13 : ATTEST: CITY OF EDGEWATER, FLORIDA, a municipal corporation ito~~ City Clerk , City Attorney STATE OF FLORIDA COUNTY OF VOLUSIA ~ foregoing i.9.strument was acknowledged before me thisStl"-- day of . UC.IJV.-.t, 200,3, by rn.c.h(7.LI L. Tko.-r.aS on behalf of the City of Edgewater, a Florida mu'nicipal corporation. They ar(personally known to @or who have produced as identification and who [ ] did I)(] did not take an oath. ~ '--f9j..~ Notary Public, State of Florida . My Commission Expires: (ho-rc.h ~\""" ~ ~ ~v\?~. ~!-.O", ~ . c,oMMISSlO. OA_' ~ . :{ '" .:17 , ... *: ~ ~..~.- - . 111. ';il 13- 3 dOli) -~.~ ~h3 m:- I _ ~.~ ftD ,~070 en. = - ~. 'l.. <2osQ- --... . .- ,t...?... ~ '8097 ">. *-- .- 4..'>....., <'ttThru 1">". ~ ... , ,'1Sfn. ."",: !O~-'3~"~ .~.." , r ~TE Or ~\.~,.. ",.." 21 102392116.13 "DEVELOPER" HAMMOCK CREEK GREEN, LLC, a Delaware limited liability company By: Hammock Creek Green Holdco, LLC, a Delaware limited liability company, its sole member By: GS Florida Green Land, LLC, a Delaware limited liability company, its sole member By: GS Florida, LLP, a Florida limited liability partnership, its Asset nage By: -;I- Title: '- i~~~ Witness Signature ~cPa-H-(f< Print Name STATE OF FLQRIDA . r-: COUNTY OF >E>>l/~OU:::; ~ ~ On this )/daLof '<:tv'l~~. M~>,.-J e.- ,as I ~ 't.....M f GS Florida, LLP, a Florida limited liability partnership, as Asset Manager of G Florida Green Land, LLC, a Florida limited liability company, as sole member of Hammock Creek Green Holdco, LLC, a Delaware limited liability company, as sole member of Hammock 9feek Green, LLC, a Delaware limited liability company, on behalf of the company, (~ who produced as identification or (_) who is personally known to me. ~ ~ss my hand and official seal in the State and foresaid, this L day of ~008. SANDRA M. SCHNETTLER Notary Public - State of FIoIldI . . ?At Commission Expires J'J/ 25, 201 ~.. Commission II :->r- :,7""~ ~~...,.. ..... . . "" Bonded By Nationa,' '-' . "'.,. 22 102392116.14 EXHIBIT "A" LEGAL DESCRIPTION The south li2 of the Southwest 1/4 and the South 1/2 of the Southeast 1/4, Section 31, Township 17 South, Range 33 East; the South 1/2 of the Southwest 1/4, the Southwest 1/4 of the Southeast 1/4, the Southeast 1/4 of the Southeast 1/4, the Soutll\vest 1/4 of the Northeast 1/4 of the Southeast 1....4, the Southeast 1/4 of the Northeast 1/4 of the Southeast 1/4, the Northeast 1/4 of the Northeast 1/4 of the Southeast 1/4, the Southeast 1/4 of the Southeast 1/4 ofthe Northeast 1/4 and the Northeast li4 of the Southeast 1/4 of the Northeast 1....4, Section 33, Township 17 South. Range 33 East; tlle South 1/2 of the Northwest 1i4, the South 1(2 of the Northeast 1/4, the Southwest 1/4 and the Southeast 1/4, Section 34, Township 17 South, Range 33 East; that portion of the South 1/2 of dIe Northwest 1/4 and the Southwest 1/4, lying southwesterly ofInrerstate 95, Section 35, Township 17 South, Range 33 East; a portion of Section 6, Towuship18 South, Range 34 East, lying southwesterly ofInterstate 95; all of Section 1 and 2, T owuswp 18 South, Range 33 East; and Section 3, TO\'>l1ship 18 South, Range 33 East, excepting therefrom five (5) acres in Govemment Lot 14, Described as follO\vs: Beginning at the Southeast comer of said Section 3: thence West 011 the South line of said Section 660 feet; thence North 330 feet; thence E.'lst 660 feet to the East line of said Section 3; thence South on the Section line 330 feet to the place of beginning; ALL being more particularly described as follows: For a Point ofBeguming, commence at the southwest comer of said Section 3, thence North 000 23' 50" West, along the west lille of said Section 3, a distance. of 9268.62 feet to the south lit1e of said Section 32; thence South 880 53' 05" \Vest, along said somh title of Section 32, a distance of 1121.77 feet to the southwest corner of said Section 32; thence North 01045' 25" \Vest. a distance of 1317.75 feet to the northwest comer of said SOUtll 1/2 of the Southwest 1/4 of Section 32: thence North 880 48' 27" East, a distance of 5316.15 feet to the northwest corner of said South li20fthe Soutll\vest 1/4 of Section 33; thence North 880 44' 41" East, a distance of 3973.41 feet to the northwest comer of said Southeast 1i4 of the Southeast 1/4 of Section 33; thence North 01045' 54" West, a distance of 663.33 feet to the nortlm:est comer of said Southwest 1/4 of the Northeast 1/4 of the Southeast 1/4 of Section 33; thence North 88044' 01" East, a distance of 661.32 feet to the northwest corner of said Southeast 1/4 of dle Northeast 1/4 of the Southeast 1/4 of Section 33; thence North 010 50' 38" \Vest, a distance of 1990.46 feet to the northwest comer of said Northeast 1/4 of the Southeast 1/4 ohhe Northeast 1/4 of Section 33; thence North 88041' 43" East, a distance of 658.58 feet to the nortl1we.5t comer of said South li2 of the Northwest 1/4 of Section 34; thence North 880 35' 24" East, a distance of 5193.36 feet to tlle northeast comer of said South 1/2 of the Northwest 1/4 of Section 35; thence North 880 01' 06" East, along the north IUle of said South 1/2 of the Northwest 1/4 of Section 35, a distance of 884.36 feet to the westerly right ohm)' of Interstate 95; thence southeasterly along said westerly right of way the followitlg four (4) courses: South 39053' 36" East, a distance of 452.54 feet; thence South 29052' 56" East, a distance of 1053.25 feet; thence South 29':> 53' 27" East, a distance of 1127.04 feet; thence South 290 53' 23" East, a distance of 1141.37 feet to the east line of the Southwest 1/4 of Section 35, Township 17 South, Range 33 East; thence South 020 12' 1 T' East, along said east line of the Southwest 1/4; a distance of 700.28 feet to the southwest comer of the Southeast 1/4 of said Section 35; tllence North 88044' 36" East, along the south litle of said Southeast 1/4, a distance of 370.66 feet to said westerly right of way of Interstate 95; thence southeasterly along said westerly right of way the follmvulg four (4) courses: South 29052' 54" East, a distance of 1270.66 feet; thence South 290 53' 55" East, a distance of 1005.54 feet; thence South 29052' 1 T' East, a distance of 825.17 feet: thence 939.01 feet along the arc of a curve to the right being non- tangent to the last described litles, said curve having a radius of 8419.42 feet, a central angle of 6C 23' 25" and a chord of938.53 feet which bears South 26041' 16" East; thence South 00015' 12" West, leaving said right of way ofInterstate 95 and along a line non-tangent to said curve, a distance of 5905.65 feet to the south line of Section 6, Township 18 South, Range 34 East; thence 23 102392116.14 North 89'=' 44' 48" \Ve~t. along said south line of Section 6, a distance of 3825.35 feet to the southeast corner of said Section 1; thence South 890 19' 23" West, along the south line of said Section 1. a dist.ance of 5288.04 feet to the southe~t comer of said Section 2; thence South 890 14' 48" \Vest, along the south line of 5aid Section 2, a dis.tance of 5299.92 feet to the southeast comer of said Section 3; thence North OO'J 10' 15" \Vest, along the ea~t line of s.aid Section 3, a dis.tance of 330.00 feet; thence South 890 01' 09" West, a distance of 660.00 feet; thence South 000 20' IS" East, a distance of 330.00 feet to the south line of Section 3; thence South 890 01' 09" West, along the south line of Section 3. a distance of 4619.20 feet to the Point of Beginning. Containing 5181.4 acres more or le%. 24 102392116.14 102392116.14 ~ '{, i.~.;c I. '<; fil. t-" ...- ('! , l ;r , If .- il; t 0 . rl'~ i '" R[1S 'H= EXHIBIT "B" DRI MAP H if . i & ~ 'rt, :1.; rto t.L rl iji t!i in flti " . t . h! (d f[! :1. lH !;om.IOIQI c~ n if -H i : f' IJ 8 . ~ II~ E I { r ~ i!.! i [~i .~! IlL W [ ~ ~ n ~ [rl ~ II r r ! (fl. f . {i r r ~IUH fii t;i,l U" ;. lit it:I~1 ~rr n ,I n Ii>> ~! 11 I It J h Jy 25