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REAL ESTATE PURCHASE, SALE, AND EXCHANGE AGREEMENT INDIAN RIVER COUNTY AND CHRISTOPHER P. AND CHARLENE W. SCHLITT This Agreement entered into this 6th day of May , 2008 between Indian River County, a political subdivision of the State of Florida (the "County"), 1801 27`h Street, Vero Beach, Florida 32960; and Christopher P. Schlitt and Charlene W. Schlitt, his wife ("Schlitt"), 3705 66", Avenue, Vero Beach, Florida 32966. WHEREAS, Schlitt owns a 0.654 acre parcel of property on the northwest comer of 37th Street and 6e Avenue, consisting of a single family home with landscaping; and WHEREAS, the County plans widening and improvement to 66th Avenue and portions of 37th Street that will require the acquisition of a portion of the Schlitt property (identified on Exhibit "B", attached) located at 3705 66a' Avenue, Vero Beach, Florida; and WHEREAS, the County owns a parcel of land adjacent to Schlitt to the north, and both parcels abut 66th Avenue: and WHEREAS, the County and Schlitt hereby agree to purchase, sale, and exchange portions of their respective properties as follows: • The County hereby agrees to convey a portion of its property (identified on Exhibit "A", attached) containing approximately 5,769.02 square feet (.13 acres) to Schlitt; and • The County agrees to purchase a portion of the Schlitt property (identified on Exhibit "B", attached) containing approximately 28,488 square feet (.654 acres) to the County for $62,103.84 ($95,000.00 per acre); and • The County agrees to compensate Schlitt for possible severance damages and the cost to replace or relocate landscaping and improvements on the 0.654 acre property in the mount of $24,153.50 as described on Exhibit "C" attached. G O t/rA(,N)4 �ro. /Lti 4, I, ,� �aceL fio e n.+„u �u.�iTro �hL DPl /� In hange Seer— (v' • Schlitt agrees to convey a portion of their property (identified on Exhibit "B", attached) containing 0.654 acres to the County for the sum of $62,103.84 and • Accept the 0.13 acre parcel of County property and the sum of $24,153.50 as full and final compensation and consideration for the loss of the vegetative buffer, fencing, electronic gate, brick and block pillars, berms, lighting and irrigation as it currently exists on the 0.654 acre parcel of property and for any severance damages they may claim as a result of the sale of the 0.654 acre parcel.