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03/ 17 / 2008 09 : 40 7725694317 COATTY PAGE 03 <br /> 4 , 2 � • o � i <br /> REAL ESTATE EXCHANGE AGREEMENT <br /> Between. <br /> INDIAN RIVER COUNTY AND KEN MCKELLAR <br /> April <br /> This Agreement entered into this22nd day of Macl , 2008 between Indian River County, a <br /> political subdivision of the State of Florida ("the County') 1801 27th Street, Vero Beach, Florida <br /> 32960; and Ken and Laura McKellar, as husband and wife, 125 Ocean Way, Vero Beach, Florida <br /> 32963 ("the McKellars"): <br /> WHEREAS, the County needs to acquire additional tight-of-way along the north side of <br /> 49`h Street that will require the utilization of part of the McKellar' s property located at the <br /> northeast corner of 49`" Street and 31 " Avenue; and <br /> WHEREAS, the Countyalso needs property along 31 " Avenue so it can gain access to <br /> the Effluent Disposal Site located north of 491h Street and east of 31 " Avenue <br /> WHEREAS, the County owns several parcels of land adjacent to the McKellar' s <br /> property; and <br /> WHEREAS ; the County needs property from the south end of the McKellar' s property <br /> and will compensate him by giving him property on the north end of his property; and <br /> WHEREAS, the County and the McKellars hereby agree to an exchange of portions of <br /> their respective properties as follows: <br /> a. The County hereby agrees to convey a portion of its property (identified on Exhibit <br /> "X % attached) containing 16,254 square feet to the McKellars, and in exchange <br /> b. The McKellar agrees to convey a portion of their property (identified on Exhibit <br /> "B", attached) containing 16,254 square feet to the County; and <br /> WHEREAS, each party is indivisibly seized of their respective parcel of property and <br /> shall convey marketable title to their respective parcel by warranty deed free of claims, liens, <br /> easements, and encumbrances, but subject to property taxes for the year of closing; and <br /> WHEREAS, this Exchange Agreement is subject to final approval by the Indian River <br /> County Board of County Commissioners (BCC) through the adoption of a Resolution. Such an <br /> exchange is allowed under Section 125 . 37, Florida Statutes. Notice is required to be published <br /> once a week for two weeks before consideration by the BCC . <br /> NOW THEREFORE, in consideration of the mutual terms, conditions, promises and <br /> covenants hereinafter, Ken and Laura McKellar and the County agree as follows : <br /> 1 . The above recitals are true and correct and incorporated by reference into this agreement. <br />