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Prepared by and return to: <br />Catherine D. Reischmann, Esq. <br />Garganese, Weiss & D'Agresta, P.A. <br />P.O. Box 2873 <br />Orlando, FL 32802-2879 <br />{ r,NTr t1;°rl..OYP Sk.MINOLE". COUNTY <br />":I..ERK OF C'IRCUIT t:0URT & C+:1!'!F` IZOL.L.E:R <br />BK 91.61 F'siss 1.666--167" (1fF'x<.si <br />CL.F:.:RK'r, 2018073892,06/27' { � <br />F {::,C.:L1F.Ci):hlCa F'E:IS $1.2i:1.50 <br />DEVELOPMENT COMMITMENT AND VESTED RIGHTS AGREEMENT <br />PERTAINING TO EDUCATIONAL SYSTEM IMPACT FEES ONLY <br />THIS DEVELOPMENT COMMITMENT AND VESTED RIGHTS AGREEMENT <br />PERTAINING TO EDUCATIONAL SYSTEM IMPACT FEES ONLY (this "Agreement") is <br />made and entered into this jam_ day of --_rlGt_, rz_ _, , 2018, by and between the CITY <br />OF CASSELBERRY, a municipal co *ratio organized and existing under the laws of the <br />State of Florida, whose address is 95 Tr plet-f ake Drive, Casselberry, FL 32707, (the "City"), <br />and MAYFLOWER RETIREMENT CENTER, INC. a Florida not for profit corporation, <br />("Owner") and RED BUG CENTER, LLC, a Delaware limited liability company <br />("Developer"). <br />RECITALS: <br />WHEREAS, Owners holds the fee simple title in and to those certain parcels of real <br />property described in Exhibit "A", attached hereto and made a part hereof by this reference <br />(collectively, the "Property"), and as shown on the map attached hereto as Exhibit "B"; and <br />WHEREAS, Developer and Owner entered into that certain Agreement for Purchase and <br />Sale of the Property on November 7, 2017 (the "Purchase Agreement"); and <br />WHEREAS, the Purchase Agreement was entered into in good faith and with the express <br />understanding that the Owner and Developer shall seek annexation of the Property into the City <br />and will develop the Property in accordance with City codes and regulations; and <br />WHEREAS, the Purchase Agreement for the Property is still in effect and remains valid; <br />and <br />WHEREAS, beginning in July of 2017, Developer held multiple meetings with City staff <br />and had extensive correspondence with City staff regarding annexation of and a future land use <br />change and rezoning for the Property, and the Developer outlined its conceptual plan for the <br />proposed project (the "City Meetings"); and <br />WHEREAS, during such City Meetings, City staff explained to Developer the City's <br />required processes for annexation, rezoning, future land use change, and other approvals, <br />including site plan approval; and <br />