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1980299 <br /> THIS DOCUMENT HAS BEEN <br /> THIS INSTRUMENT PREPARED BY : RECORDED IN THE PUBLIC RECORDS <br /> Larry B . Alexander , Esquire OF INDIAN RIVER COUNTY FLBK: 2326 PG : 274 , Pagel of 5 <br /> Jones , Foster , Johnston & Stubbs , P . A . 03% 10%2009 at 03 43 PM , DOC STAMPS D <br /> 505 South Flagler Drive , Suite 1100 s0 70 <br /> West Palm Beach , FL 33401 JEFFREY K BARTON CLERK OF COURT <br /> TERMINATION AND RELEASE OF OPTIONS TO PURCHASE REAL PROPERTY <br /> THIS TERMINATION AND RELEASE OF OPTIONS TO PURCHASE REAL <br /> PROPERTY is made as of the date set forth below by and between THE COUNTY OF <br /> INDIAN RIVER , FLORIDA , by and through its County Commission ( " IRC " ) whose <br /> address is 1801 27th Street , Vero Beach , FL 32960 and QUAIL VALLEY CLUB , LLC <br /> ( " Club " ) , whose address is 2345 Highway AIA , Vero Beach , FL 32963 . <br /> WHEREAS , the Club granted unto IRC an option to purchase certain real <br /> property which was proposed to be used for the construction of an extension to 61 " <br /> Street in Indian River County , Florida as more particularly described on Exhibit A <br /> attached hereto (the " 61St Street Property" ) pursuant to an Option to Purchase Real <br /> Property dated January 2 , 2001 and recorded in Official Record Book 1376 , Page 1981 , <br /> Public Records of Indian River County , Florida (the 61St Street Option Agreement " ) ; and <br /> WHEREAS , Quail Valley Club , LLC granted unto IRC an option to purchase <br /> certain real property which was proposed to be used for the construction of an <br /> extension to 65th Street in Indian River County , Florida as more particularly described <br /> on Exhibit B attached hereto (the " 65th Street Property " ) pursuant to an Option to <br /> Purchase Real Property dated January 2 , 2001 and recorded in Official Record Book <br /> 1376 , Page 1989 , Public Records of Indian River County , Florida (the 65th Street Option <br /> Agreement " ) ; and <br /> WHEREAS , the 61St Street Property and the 65th Street Property are no longer <br /> within IRC ' s Extended Roadway Grid Map as provided in IRC ' s Comprehensive Plan ; <br /> and <br /> WHEREAS , Club has requested that IRC release the 61St Street Property and the <br /> 65th Street Property , respectively from the terms and provisions of the 61St Street Option <br /> Agreement and the 65th Street Option Agreement and that the 61St Street Option <br /> Agreement and the 65th Street Option Agreement be terminated and IRC has agreed to <br /> do so . <br /> NOW THEREFORE , IRC , for Ten and No/ 100 Dollars ( $ 10 . 00 ) and other <br /> good and valuable consideration , the receipt and sufficiency of which is hereby <br /> acknowledged , IRC and Club agree that IRC hereby releases the 61St Street Property <br /> and the 65th Street Property from the terms and provisions of the 61St Street Option <br /> Agreement and the 65th Street Option Agreement , respectively and further agree that <br /> the 61St Street Option Agreement and the 65th Street Option Agreement are hereby <br /> terminated and shall be of no further force and effect as of the date set forth below . <br />