2007-087 - Laserfiche WebLink

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2. The parties agree to schedule a closing date within 60 days from the date of the last signature on this agreement. 3. As part of the property exchange, the Koch's agree to convey to the County parcels 111, 112, 114 and 115 of their property located on 8th Street, Vero Beach, Florida, consisting of 35,283.6 square feet (0.81 acres) as depicted on Exhibit A attached. A. The County shall pay to the Koch's the sum of $48,762.57 on the day of closing. The parties agree that the above sum is based on a value of $70,000.00 per acre and agree on the following calculations: 0.81 Acres x $70,000.00/acre Tree Nursery stock reimbursement Subtotal from County 0.19 Acres x $70,000.00/acre TOTAL TO KOCH'S = 56,700.00 to Koch's = 5,320.00 to Koch's 62,020.00 = 13,257.57 to County = 48,762.43 B. The County shall demolish and remove any structures on the 0.19 acre parcel prior to conveying it to the Koch's. C. During the course of construction of the road and drainage improvements to 8th Street, the County will consult with the Koch's to make sure that the current drainage pattern is kept in substantially the same condition as it exists at the time of execution of this agreement. 4. At the same time, the County agrees to convey to the Koch's the northern portion of the former Franks property, consisting of 8,250 square feet (0.19 acres) as depicted on Exhibit C attached. A. Said deed will be held in escrow by the County Attorney's office until 45 days after expiration of the lease on_March 30, 2008 or until the Franks vacate the leased premises, which ever occurs first. At the time the former Franks parcel becomes vacant, the County shall have 45 days to demolish the structure on the parcel and upon completion of the removal of the debris from demolition, the deed shall be released from escrow. B. Upon release of the deed held in escrow, the County shall cause the deed to be recorded in the public records of Indian River County. 5. 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. 6. 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.