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(d) The Utility Company will also be the owner of
the water distribution system providing water service for
the Lakeview Property and the Oceanview Property of water
purchased pursuant to an existing bulk purchase agreement
for water between it and the Ft. Pierce. Utility Authority.
Lakeview represents and warrants that, prior to the
development of any portion of the Oceanview Property and -
the Lakeview Property, it -will enter into a binding and
enforceable agreement with the Utility Company, subject to
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the customary contributions in aid of construction by
developers and applicable regulations, to supply an
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adequate supply of notable water in sufficient quantities
and at a sufficient pressure as needed throughout the
development of the Lakeview Property. It is understood
and agreed and Lakeview represents and warrants that the
agreement of the Utility Company to supply such water ~
service for the entire projects. when developed and all
rights thereunder will be coupled with an interest and run
. with the Lakeview Property and the Oceanview Property, -
and, accordingly, shall inure to the benefit of all
successors and assigns of Lakeview and Oceanview that may
~ be or become owners of any portion of the Lakeview
Property or the Oceanview Property and be enforceable by
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M[I~lNON. lAA~I[II, JOMNlTON, OYNfrOOY • COL[, 1100 /IRlT NATIONAL •ANK ~YILOINO. MIAMI, rLOl110A
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