3/1/2018 11:08:56 AM
8/18/2017 9:58:51 AM
Official Document Type
Agenda Item Number
Lott, Randy and Diane
66th Avenue Widening Project Land Acquisition
7425 66th Avenue
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AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br />BETWEEN INDIAN RIVER COUNTY <br />AND <br />RANDY D. LOTT AND DIANE LOTT <br />THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is <br />made and entered into as of the 15 day of Nuqust , 2017, by and between Indian <br />River County, a political subdivision of the State of Florida ("the County"), and Randy D. <br />Lott and Diane Lott ("the Seller) who agree as follows: <br />WHEREAS, Seller owns property located at 7425 66th Avenue, Vero Beach, Florida. <br />A legal description of the property is attached to this agreement as Exhibit "A" and <br />incorporated by reference herein; and <br />WHEREAS, the County is scheduled to do road improvements on 66th Avenue <br />between 49th Street and 81st Street in the future and the road expansion will impact the <br />Seller's property; 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 along and <br />adjacent to 66th Avenue; and <br />WHEREAS, the County contacted the Seller's realtor, Jeff Cusson of CBC Saunders <br />Real Estate and offered to purchase right-of-way of approximately 771,012 square feet or <br />17.7 acres of property as depicted on Exhibit "A", and <br />WHEREAS, the Parties agree this is an arm's length transaction between the Seller <br />and the County, without the threat of eminent domain. <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 at 7425 66th Avenue, <br />Vero Beach, Florida and more specifically described in the legal description attached as <br />Exhibit "A", fee simple, containing approximately 771,012 square feet, all improvements <br />thereon, together with all easements, rights and uses now or hereafter belonging thereto <br />(collectively, the "Property"). <br />2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the <br />Property shall be $320,000.00 (Three Hundred Twenty Thousand and 00/100 Dollars). The <br />Purchase Price shall be paid on the Closing Date. The Effective Date of this Agreement <br />shall be the date upon which the County shall have approved the execution of this <br />
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