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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 Real Estate Purchase, Sale, and Exchange Agreement is subject to final approval by the Indian River County Board of County Commissioners (BCC) through the adoption of a Resolution. Such an exchange is allowed under Section 125 . 37, Florida Statutes. Notice has been published once a week for two weeks, in the Press Journal, before consideration, by the BCC . NOW THEREFORE, in consideration of the mutual terms, conditions, promises and covenants hereinafter, Schlitt and the County agree as follows: 1 . The above recitals are true and correct and incorporated by reference into this Agreement. 2. The County agrees to convey to Schlitt the portion of land lying immediately east of Schlitts property, consisting of 5 ,769. 02 square feet (. 13 acres) as depicted on Exhibit "A" attached. 3 . At the same time, Schlitt agrees to accept the Exhibit "A" property as full and final compensation for any possible severance damages and the loss of their vegetative buffer which is located on the Exhibit "B" property. 4. Schlitt agrees to convey to the County by Warranty Deed, the southeastern portion of their property located at 3705 660' Avenue, Vero Beach, Florida, consisting of 28,488 square feet (.654 acres) as depicted on Exhibit `B" attached. 5 . The County agrees to pay Schlitt the sum of $86,257 .34 as compensation for the Exhibit"B" property ($62, 103 . 84 for Land, and $24, 153 .50 for possible severance damages and reimbursement for improvements thereon as listed in Exhibit "C", attached). 6. Each party shall convey marketable title to their respective parcels by warranty deed free of claims, liens, easements, encumbrances, and property taxes prorated for the year of closing. 7. County shall be responsible for preparation of all Closing documents. a. County shall pay the following expenses at Closing : The cost of recording the warranty deed and any release or satisfaction obtained by Seller pursuant to this Agreement. 8 . Seller shall pay the following expenses at or prior to Closing: All costs necessary to cure title defect(s) or encumbrances, other than the permitted Exceptions, and to satisfy or release of record all existing mortgages, liens or Encumbrances upon the 0.654 acre Property. 9. In the event a dispute arises over this agreement, the Seller and County shall each pay their own attorneys' fees and costs.