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AGREEMENT TO PURCHASE AND SELL REAL ESTATE BETWEEN INDIAN RIVER COUNTY AND LOCKWOOD LANE ACQUISITION GROUP, LLC THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the day of August, 2017, by and between Indian River County, a political subdivision of the State of Florida, 1801 271h Street, Vero Beach, FL 32960 C'the County"), and Lockwood Lane Acquisition Group, LLC, f/k/a Lockwood Lane Development Group, LLC, whose address is Post Office Box 690997, Vero Beach, FIL 32968 ("Lockwood"), who agree as follows: WHEREAS, Lockwood owns property located at the northwest comer of 17th Street SW and 27th Avenue, Indian River County, Vero Beach, Florida, an aerial photo of the property is attached to this agreement as Exhibit"A:'and incorporated by reference herein; and WHEREAS, the County entered into a Developer Agreement with the owners of the Millstone Landing subdivision to plan, design and construct 17th Street SW from 27th Avenue to the western boundary of the Millstone Landing development and the Developer Agreement calls for a southbound right turn lane on 27th Avenue onto 17th Street SW; and WHEREAS, in order for the County to proceed with its road expansion plans, the County needs to acquire property to be used as right-of-way along 27th Avenue from Lockwood;and WHEREAS, the County has contacted Lockwood about acquiring a 0.61 acre parcel of property from Lockwood to be used as right-of-way as depicted on Exhibit "B" (collectively, the Property); and WHEREAS, Lockwood plans to develop its property into a residential subdivision and acknowledges that the turn lane on 27th Avenue would benefit the future residents of the subdivision; and WHEREAS, the County is prepared to take the Property by using its power of eminent domain; and WHEREAS, Lockwood and the County wish to avoid the risk, time and expense of litigation by entering into this agreement for sale and purchase of the Property; NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter, the COUNTY and LOCKWOOD agree as follows: Recitals. The above recitals are affirmed as being true and correct and are P178