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_ A A G R E E M E N T THIS AGREEMENT, made and entered into this day of 1414D 1982, by and between IXORA UTILITIES, INC., a corporation organized and existing under the laws of the State of Florida, sometimes referred to herein as the "Company", and NATHAN TANEN and BARBARA TANEN, his wife, sometimes referred to herein as Tanen, herein collectively referred to as to as "Seller", and INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, hereinafter referred to as "Purchaser". WITNESSETH: WHEREAS, Seller presently owns and operates a water and sewer utility system located within Indian River County, Florida; and WHEREAS, Tanen owns the real property upon which both the water and sewer plant facilities is situate; and WHEREAS, Purchaser has determined that it will be in the public welfare and interest for it to acquire certain of the assets used by Seller in connection with the operation of said water and sewer utility system (hereinafter sometimes referred to as the "Subject Assets") and Purchaser desires to acquire the Subject Assets by agreement with Seller rather than by exercise of its power of eminent domain; and WHEREAS, Purchaser and Seller agree that ?'eller will sell and Purchaser will purchase the Subject Assets in accordance with the terms and provisions hereinafter set forth; and WHEREAS, Purchaser and Seller now desire to.set forth in writing the agreements made by them. NOW, THEREFORE, in consideration of the payment of TEN DOLLARS ($10.00) in hand paid by Purchaser to Seller, the receipt of which is hereby acknowledged, and other valuable considerations together with the mutual covenants and agreements contained herein, the parties do hereby agree as follows: 1. Sale of the Subject Assets: Seller agrees that at the closing Seller will grant, bargain, sell, transfer, assign, and deliver to Purchaser, and Purchaser agrees to purchase and accept delivery of the Subject Assets of the Seller as described MAY 5 1982 -1- BOOK mE561 5