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NY <br />sep E. Flescher <br />r 1�c•: ` _ _ / hairman <br />Due Diligence: <br />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: <br />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 CO w , FLORIDA <br />By: W _ _ ` ice% _ / Date: <br />March 14, 2017 <br />ATTEST: Jeffro A R. Smith ,/� -rk of Court and Comptroller <br />BY: <br />P Y <br />APPROVED AS TO FORM <br />AN 1 A!. ^ f'F)"' i <br />/ ir S ,i1 <br />BY _ <br />WILLIA'" r..: 1.:6RAAL <br />DEPUTY CvUNI Y ATTORNEY <br />er <br />