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h r e 5 v g F } REAL ESTATE EXCHANGE AGREEMENT Between INDIAN RIVER COUNTY AND THOMAS R. AND DIANE W. NASON This Agreement entered into this %40, day of January, 2008 between Indian River County, a political subdivision of the State of Florida ("the County") 1801 27th Street, Vero Beach, Florida 32960; and Thomas R. and Diane W. Nason, husband and wife, 735 Bahia Mar Road, Vero Beach, Florida 32963 (" the Nasons' or Nasons"). WHEREAS, the County plans drainage and sidewalk improvements to 16th Street east of U.S. Highway 1, that will require the utilization of part of the Nason's property located on 16`h Street Vero Beach, Florida; and WHEREAS, the County owns a parcel of land adjacent to the Nasons on the Nasons' northern boundary; and WHEREAS, the County and the Nasons hereby agree to an exchange of portions of their respective properties as follows: A. The County agrees to convey a portion of its property (identified on Exhibit "A", attached) containing 1,586 square feet to the Nasons, and in exchange B. The Nasons agree to convey a portion of their property (identified on Exhibit "B", attached) containing 850 square feet to the County; and C. The Nasons agree to convey to the County an easement for sidewalk and utilities (identified on Exhibit "C", attached) 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 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 Board.