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5 - G � O8 REAL ESTATE PURCHASE, SALE, AND EXCHANGE AGREEMENT Between 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 66th 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 66h 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 /� 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.