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option granted in this Agreement, and the subsequent acquisition of the Property as <br /> contemplated herein , using bond proceeds from the tax exempt general obligation bonds <br /> issued by Indian River County as contemplated by Resolution No . 2005-059 adopted May <br /> 17, 2005 ; Resolution 2004-062 adopted June 22 , 2004 ; and the "2004 Referendum " (as <br /> that term is used in the foregoing resolutions will not adversely affect the exclusion from <br /> gross income for purposes of federal income taxation of interest on such bonds . <br /> SELLER UNDERSTANDS AND AGREES THAT THIS OPTION AGREEMENT SHALL BE <br /> FULLY BINDING UPON SELLER AS OF THE TIME OF EXECUTION BY SELLER, <br /> FOLLOWED WITHIN A REASONABLE TIME THEREAFTER ( NO MORE THAN 45 <br /> DAYS) BY EXECUTION BY PURCHASER. <br /> SELLER: <br /> L1114 :7y <br /> LINCOLN EVEL PMENT, L. L . C . <br /> Witness as to Seller B . <br /> H GH M . EVANS , JR . <br /> Title : HL�kn ca 1/k--tAL-,t:R <br /> � LL � t� F c 1--tA �� �c uu� <br /> fitness as t o&8 eller Date signed by Seller <br /> STATE OF FLORIDA) <br /> COUNTY OF BREVARD) <br /> The foregoing instrument was acknowledged before me this day of <br /> December, 2006 , by HUGH M . EVANS , JR . , the Managing Member of Lincoln Land <br /> Development, L. L. C . , as Seller, who is personally known to me or who has produced a <br /> driver's license issued within the last five years as identification . <br /> (Notary Public SEAL <br /> upr n� h „yPit 'fir, Slale o( Florltla - <br /> Nandm C amnadne NA RA R . RA NA INE <br /> o Y Mv (.Jmmznioncaa88190 Notary Public , State of Florida <br /> Vol r•.�° cxpirr:s O'• ;iC12e10 <br /> Commission No . : 17t )44$Ic'AL My Commission Expires : 1k106 <br /> PURCHASER: ' :', V <br /> INM&N. IVERbOUN� Y <br /> By: <br /> Gary C . pm, elef; Chairs n <br /> .>; 7 <br />