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AGREEMENT TO PURCHASE, SELL, AND LEASE REAL ESTATE
<br /> BETWEEN INDIAN RIVER COUNTY
<br /> AND
<br /> 510 INDUSTRIAL PARK, INC.
<br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is
<br /> made and entered into as of the day of , 2013, by and between Indian River
<br /> County, a political subdivision of the State of Florida ("the County"), and 510 Industrial
<br /> Park, Inc, who agree as follows:
<br /> WHEREAS, 510 Industrial Park, Inc, owns property located at 5250 85th Street,
<br /> Sebastian, FL 32958, 5300 85th Street, Sebastian, FL 32958 and 5290 85th Street,
<br /> Sebastian, FL 32958. A sketch and legal description of the property is attached to this
<br /> agreement as Exhibit "A" and Exhibit "B", incorporated by reference herein; and
<br /> WHEREAS, the County is scheduled to expand CR510, also known as 85th Street,
<br /> in the future and the road expansion will impact the property of 510 Industrial Park, Inc.,
<br /> and
<br /> WHEREAS, in order for the County to proceed with its road expansion plans, the
<br /> County needs to purchase property to be used as right-of-way from landowners adjacent
<br /> to CR510; and
<br /> WHEREAS, the County has contacted 510 Industrial Park, Inc. and has offered to
<br /> purchase a total of approximately 6,072 square feet of property to be used as road right-of-
<br /> way, as depicted on Exhibit"A", and a total of approximately 3,846 square feet of property
<br /> to be used as a drainage easement, as depicted on Exhibit "B" (the Property), and
<br /> WHEREAS, the County is prepared to take the Property by using its power of
<br /> eminent domain; and
<br /> WHEREAS, 510 Industrial Park, Inc. and the County wish to avoid the risk,time and
<br /> expense of litigation by entering into this agreement for sale and purchase of the Property;
<br /> NOW, THEREFORE, in consideration of the mutual terms, conditions, promises,
<br /> covenants and premises hereinafter, the COUNTY and SELLER agree as follows:
<br /> 1. Recitals. The above recitals are affirmed as being true and correct and are
<br /> incorporated herein
<br /> 2. Agreement to Purchase and Sell The Seller hereby agrees to sell to the County,
<br /> and the County hereby agrees to purchase from Seller, upon the terms and conditions set
<br /> forth in this Agreement that certain parcel of real property located on 85th Street,
<br /> Sebastian, Florida and more specifically described in the sketch and legal description
<br /> attached as Exhibit "A", fee simple, containing approximately 6,072 square feet, Exhibit
<br /> "B", drainage easement, containing approximately 3,846 square feet, all improvements
<br /> thereon, together with all easements, rights and uses now or hereafter belonging
<br /> thereto(collectively, the "Property').
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