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ia .t AGREEMENT TO PURCHASE AND SELL REAL ESTATE � J D�a THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement" ) is made and entered into as of the 8th day of February , 2011 by and between Indian River County , a political subdivision of the State of Florida 1801 27th Street , Vero Beach , FL 32960 ( " County" ) , and Gamma Delta Corp . 8081 NW 74th Street , Medley , FL 33166 ( " Seller" ) , who agrees as follows : 1 . Agreement to Purchase and Sell and Grant . The Seller hereby agrees to sell to the County , and the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement , five ( 5 ) parcels of real property located along 66th Avenue between 41St and 45th Streets , Indian River County and more specifically described in Exhibit "A" , " B " , " C " , " D " & " E " attached and incorporated by reference herein . Parcel 118 ( Exhibit "A" ) contains 3 . 841 acres , and shall be used as right-of-way for the County ' s 66th Avenue Improvement Project . Parcel 119 ( Exhibit " B " ) contains 4 . 622 acres , and shall be used as right- of-way for the County' s 66th Avenue and 41St Street Improvement Project . Parcel 302 ( Exhibit " C " ) contains 0 . 48 acres , and shall be used as right-of-way for the County ' s 41St Street Improvement Project . Parcel 303 ( Exhibit " D " ) contains 0 . 47 acres , and shall be used as right- of-way for the County ' s 41St Street Improvement Project . Seller further agrees to grant to the County a perpetual , non - exclusive easement for access and drainage over Parcel 406 described in Exhibit " E " attached hereto containing approximately 2 . 66 acres located near the center of the Seller' s 66th Avenue frontage for the County ' s 66th Avenue improvement project . Seller' s remainder parcel is defined as the real property owned by Seller at the northwest quadrant of 41St Street and 66th Avenue , Indian River County less Exhibits "A" , " B " , " C " , " D " & " E " and referred herein as " Remainder Parcel " . Parcels 118 , 1191 302 , 303 and 406 shall collectively be referred to as " Property" . 2 . Purchase Price , Effective Date . The purchase price (the " Purchase Price " ) for the Property shall be SEVEN HUNDRED TWENTY EIGHT THOUSAND ONE HUNDRED THREE DOLLARS AND TWENTY- ONE/ONE - HUNDRETHS ( $ 7287103 . 21 ) . The Purchase Price shall be paid on the Closing Date . The Purchase Price is inclusive of all expert witness fees , costs and attorney' s fees incurred by Seller . The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement , by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board . 3 . Title to Parcels 118 , 119 , 302 and 303 . Seller shall convey marketable title to Parcels 118 , 1197 302 and 303 by warranty deed free of claims , liens , easements and encumbrances of record or known to Seller ; but subject to property taxes for the year of Closing and subject to covenants , restrictions and public utility easements of record provided ( a ) there exists at Closing no violation of any of the foregoing ; and ( b ) none of the foregoing prevents County' s intended use and development of Parcels 118 , 119 , 302 and 303 . 3 . 1 County may order an Ownership and Encumbrance Report with respect to Parcels 118 , 119 , 302 and 303 . County shall , within thirty ( 30 ) days from receipt 1