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q / / 7 C 3 13 . E AGREEMENT TO PURCHASE AND SELL REAL ESTATE BETWEEN INDIAN RIVER COUNTY AND SCHACHT & COMPANY , INC . THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 17thday of september , 2013 , by and between Indian River County , a political subdivision of the State of Florida ("the County") , whose address is 1801 27th Street , Vero Beach , FL 32966 and Schacht & Company , Inc , a Florida Corporation , (" Seller") whose address is 610012th Street , Vero Beach , Florida who agree as follows : WHEREAS , Schacht & Company , Inc . owns property located at 4th Street , Vero Beach , Florida . Legal descriptions of the properties are attached to this agreement as Exhibit "A" incorporated by reference herein ; and WHEREAS , the County , purchased 2 . 8 acres of property from Seller in 2009 in order to construct a stormwater pond for 66th Avenue Project in its expanded condition . A copy of a sketch and legal description of the property purchased is attached as Exhibit " B " incorporated by reference herein ; and WHEREAS, Seller was a willing seller, cooperating with the County in the purchase and sale of the property in this arm ' s length transaction ; and WHEREAS , entire parcel before extracting the pond site was 3 . 30 acres in size , zoned A- 1 , Agricultural , up to 1 unit per 5 acres . Even though the parcel was less than 200 , 000 square feet in size , a single family residence would have been permitted on the original parcel ; and WHEREAS , after extracting the pond parcel , Seller is left with a remainder parcel of approximately 0 . 50 acres or 21 , 780 square feet. As the remainder parcel was created in 2009 after zoning laws came into effect, the remainder parcel is unbuildable in its current state . Also , the current configuration of the pond parcel and remainder parcel causes the remainder parcel to be landlocked with no legal ingress or egress ; and WHEREAS , Seller has contacted the County and has offered to sell the remainder parcel of approximately 0 . 50 acres of property to be used in the future for possible pond expansion ; and NOW, THEREFORE , in consideration of the mutual terms , conditions , promises , covenants and premises hereinafter, the COUNTY and SELLER agree as follows : 1 . Recitals . The above recitals are affirmed as being true and correct and are incorporated herein 1