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This document prepared by and return to: <br />Indian River County <br />Public Works Department <br />1840 25th Street <br />Vero Beach, Fl. 32960 <br />11/9/04wcg(PWD)jwd <br />AGREEMENT TO EXCHANGE REAL ESTATE <br />/ ® L/ - <br />THIS <br />/ - <br />THIS AGREEMENT, entered. this 4.thi day Jany Lary 2005 by and between <br />INDIAN RIVER COUNTY, FLORIDA a political subdivision of the State of Florida, 1840 25th <br />Street, Vero Beach, Florida, 32960 hereafter called COUNTY and SEGOVIA. LAKES LLC, 2655 <br />LeJeune Road, Suite 802, Coral Gables, Florida 33134, Attn: David R. Garcia, hereafter called <br />DEVELOPER. <br />WITNESSETH <br />WHEREAS, the DEVELOPER is in the process of developing a residential community to be <br />known as Segovia Lakes Planned Development (Indian River County Project Number 2002050008); <br />and; <br />WHEREAS, the COUNTY and DEVELOPER have entered into a Developer's Agreement <br />with respect to right- of -way acquisition, roadway, and drainage improvements for 58th Avenue and <br />16th Street (Atlantic Blvd.), and; <br />WHEREAS, the Developer's Agreement specifies that the COUNTY and DEVELOPER <br />will exchange with each other certain real estate as described herein; <br />NOW, THEREFORE, for and in consideration of the mutual terms, conditions, promises, <br />covenants and premises stated herein, the COUNTY and DEVELOPER hereby agree as follows: <br />1. Recitals: The foregoing recitals are incorporated as if fully restated herein. <br />2. Developer to County: At closing, pursuant to the terms and conditions stated herein, <br />DEVELOPER will convey to COUNTY that certain real property shown and described on <br />- composite Exhibit `C", consisting of Exhibit ."C-1" and Exhibit "C-2", attached hereto and <br />made a part hereof. <br />3. Closing: At closing, and pursuant to the terms and conditions stated herein, COUNTY will <br />convey to DEVELOPER that certain real estate shown and described on Exhibit "D", <br />attached hereto and made a part hereof. <br />4. Parcel to be Conveyed: The parcel to be conveyed by the DEVELOPER to the COUNTY is <br />larger than the parcel to be conveyed by the COUNTY to the DEVELOPER by 27,570 sq. ft. <br />J:\Planning & Zoning\AGUERREVERE, ENRIQUE\Agreernent to Exchange Real Property 11 08 04.wpd.doc <br />