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"t <br /> Due Diligence: Purchaser shall have a 10 business days due diligence period <br /> from the Effective Date and receipt of all relevant documents <br /> and records from County. <br /> Contract: Purchaser shall provide a draft purchase and sale agreement to <br /> seller within 5 business days of the execution of this letter. <br /> Closing Expenses: Each party shall be responsible for their own closing expenses <br /> traditionally paid for on transactions of this nature in Indian <br /> River County,Florida. <br /> Closing Date: Within 30 calendar days after the expiration of the Due <br /> Diligence Period. <br /> Contingency: Due diligence acceptable to Purchaser in its sole and absolute <br /> discretion,which includes without limitation: appraisal, <br /> environmental matters,physical inspection,title,zoning and <br /> financing. <br /> This letter of intent is not intended to create a binding agreement on the Seller to <br /> sell or the Purchaser to buy. The purpose of this letter is to set forth the primary terms <br /> and conditions upon which to execute a formal Purchase and Sale Agreement. All other <br /> terms and conditions shall be negotiated in the formal Purchase and Sale Agreement. <br /> This letter of intent is open for acceptance through March 21,2017. <br /> Sincerely, <br /> Reb c F.Emmons,Esq. for the Foundation <br /> Agreed and accepted: <br /> BOARD OF COUNTY COMMISSIONERS <br /> INDIAN RIVER COTY, FLORID <br /> \� By: Date: March 14 2017 <br /> oc J sep E. Flescher <br /> _hairrnan <br /> ATTEST: Jeffr R. Smith, rk of Court and Comptroller <br /> BY: <br /> APPROVED AS TO FORM <br /> An ', 'a' I ZN <br /> BY <br /> WIL!1.ok" * .,t'r cAAL <br /> DEPUTY C. 11t-J1'y ATTORNEY <br />