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03/17/2008 09:40 7725694317 COATTY PAGE 03 4,2�•o�i REAL ESTATE EXCHANGE AGREEMENT Between INDIAN RIVER COUNTY AND KEN MCKELLAR April This Agreement entered into this22nd day of Mael, 2008 between Indian River County, a political subdivision of the State of Florida ("the County') 1801 27th Street, Vero Beach, Florida 32960; and Ken and Laura McKellar, as husband and wife, 125 Ocean Way, Vero Beach, Florida 32963 ("the McKellars" ): WHEREAS, the County needs to acquire additional tight -of -way along the north side of 49`h Street that will require the utilization of part of the McKellar's property located at the northeast corner of 49`" Street and 31" Avenue; and WHEREAS, the County also needs property along 31" Avenue so it can gain access to the Effluent Disposal Site located north of 491h Street and east of 3 V3 Avenue WHEREAS, the County owns several parcels of land adjacent to the McKellar's property; and WHEREAS; the County needs property from the south end of the McKellar's property and will compensate him by giving him property on the north end of his property; and WHEREAS, the County and the McKellars hereby agree to an exchange of portions of their respective properties as follows: a. The County hereby agrees to convey a portion of its property (identified on Exhibit "A", attached) containing 16,254 square feet to the McKellars, and in exchange b. The McKellar agrees to convey a portion of their property (identified on Exhibit "B", attached) containing 16,254 square feet to the County; and WHEREAS, each party is indivisibly seized of their respective parcel of property and shall convey marketable title to their respective parcel by warranty deed free of claims, liens, easements, and encumbrances, but subject to property taxes for the year of closing; and WHEREAS, this Exchange Agreement is subject to final approval by the Indian River County Board of County Commissioners (BCC) through the adoption of a Resolution. Such an exchange is allowed under Section 125.37, Florida Statutes. Notice is required to be published once a week for two weeks before consideration by the BCC. NOW THEREFORE, in consideration of the mutual terms, conditions, promises and covenants hereinafter, Ken and Laura McKellar and the County agree as follows: 1. The above recitals are true and correct and incorporated by reference into this agreement.