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PARKING ESTOPPEL CERTIFICATE Zoll- lob.= 5 -3 -II 13.8.9 This Parking Estoppel Certificate ("Certificate") was executed as of June 1, 2011, by and between Indian River County, a political subdivision of the State of Florida ("County") and the City of Vero Beach, a municipal corporation of the State of Florida (City"). In re: Maximum Capacity Parking at Dodgertown Facility Compliance with City Parking Codes and Regulations. NOW THEREFORE, in consideration of $10 and other good and valuable consideration, the adequacy and receipt of which is hereby acknowledged, City and County make the following joint acknowledgements, and City makes the following statements and representations to County, with full knowledge that County will rely on such statements and representations in closing and completing a property exchange transaction between City and County, as set forth more fully in that certain Property Exchange Agreement, dated February 1, 2011 ("Exchange Transaction"): 1. Joint Acknowledgments. City and County jointly acknowledge that (a) County owns a 61.75 acre parcel of real property located in Vero Beach, Florida, formerly known as Dodgertown, which parcel is more fully described on Exhibit A attached hereto, (b) in the Exchange Transaction, City will transfer to County an 11.93 acre parcel located south of Holman Stadium, which parcel is more fully described on Exhibit B attached hereto (the 61.75 acre parcel and the 11.93 acre parcel are collectively referred to as the "Dodgertown Facility"), (c) in the Exchange Transaction, County will transfer to City a 10.38 acre parcel located west of Holman Stadium, which parcel is more fully described on Exhibit C attached hereto ("Parking Property"), (d) County has rights to park on the Parking Property pursuant to the Parking Lease Agreement between the parties, but such rights will be reduced to a revocable license pursuant to a Parking License Agreement to be signed as part of the Exchange Transaction; (e) in the event that the license created by the Parking License Agreement is in fact revoked by City, County, and its tenants and successors, may be required to provide parking for Dodgertown Events (as defined below) entirely within the Dodgertown Facility, including the areas historically used for parking, the four (4) baseball practice fields and two (2) half baseball practice fields, and other accessible and open areas suitable for parking ("Onsite Parking"), (f) before agreeing to and closing the Exchange Transaction, County requires and will rely upon a clear, irrevocable commitment from City, in the form of its statements and representations below, that Onsite Parking for Dodgertown Events will meet and comply with all City parking codes and regulations. 2. Statements and Representations by City. City states and represents to County that: (a) City parking codes and regulations allow Onsite Parking for Dodgertown Events, (b) Onsite Parking provides a sufficient number of parking spaces to comply with all City parking codes and regulations for concurrent maximum use of the Dodgertown Facility, including Holman Stadium, the clubhouse, the hotel, the conference center, the executive offices and the various baseball fields ("Dodgertown Events"), and (c) to the extent that City's parking codes and regulations may change in the future, the Dodgertown Facility F. Amey AlanlD,dgen— Dwum—IPARKING ESTOPPEL CERTIFICATEdo Page 1 of 2