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rem <br /> REAL ESTATE EXCHANGE AGREEMENT <br /> Between <br /> INDIAN RIVER COUNTY AND KAH DEVELOPMENT CORPORATION <br /> This Agreement entered into this 16tnday of July, 2013 between Indian River <br /> County , a political subdivision of the State of Florida ( "the County" ) 1801 27th Street , <br /> Vero Beach , Florida 32960 ; and KAH Development Corporation , a Michigan <br /> Corporation , 631 Big Beaver, Suite 201 , Troy, Michigan , 48083 ( " KAH " ) . <br /> WHEREAS , KAH has purchased two parcels of property on Oslo Road whose <br /> addresses are 820 and 816 9th Street SW ( Oslo Road ) in Vero Beach , Florida . Those <br /> parcels are depicted in Exhibit A attached and incorporated by reference herein ; and <br /> WHEREAS , the County owns a parcel of land adjacent to the KAH parcels <br /> whose address is 830 9th Street SW ( Oslo Road ) Vero Beach , Florida ( " County Parcel " ) . <br /> That parcels is also depicted on Exhibit A ; and <br /> WHEREAS , the County acquired its parcel on December 12 , 2003 via a Tax <br /> Deed after the parcel had remained on the list of lands available for taxes since <br /> December 1996 , a period of 7 years , and <br /> WHEREAS , the County Parcel is approximately 5 , 600 sq feet , 0 . 13 acres in size <br /> ( 50 ' by 112 ' ) , zoned commercial and is unimproved with no structures , and <br /> WHEREAS , KAH acquired one of its parcels via a short sale from PNC Bank on <br /> November 30 , 2012 ( PNC Parcel ) , and <br /> WHEREAS , unbeknownst to KAH , the PNC Parcel included a portion of a dirt <br /> roadway known as 8th Court SW also depicted on Exhibit A <br /> WHEREAS , KAH is interested in acquiring the County Parcel and the County is <br /> interested in acquiring the 8th Court SW parcel and the Murphy Act/ Right-of-Way <br /> reservations from KAH <br /> WHEREAS , each party is indivisibly seized of their respective parcel of property <br /> and shall convey marketable title to their respective parcel by an appropriate deed , free <br /> of claims , liens , easements , and encumbrances , but subject to property taxes for the <br /> year of closing ; and <br /> WHEREAS , this Exchange Agreement is subject to final approval by the Indian <br /> River County Board of County Commissioners ( BCC ) through the adoption of a <br /> Resolution . Such an exchange is allowed under Section 125 . 37 , Florida Statutes . <br /> Notice is required to be published once a week for two weeks before consideration by <br /> the BCC . <br /> 1 <br />