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AGREEMENT TO PURCHASE AND SELL REAL ESTATE BETWEEN INDIAN RIVER COUNTY AND KIRK MADSEN AND NANCY JO MADSEN THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 9thday of January , 2018, by and between Indian River County, a political subdivision of the State of Florida ("the County"), and Kirk Madsen and Nancy Jo Madsen ("the Seller) who agree as follows: WHEREAS, Seller owns property located at 7855 66th Avenue, Vero Beach, Florida. A legal description of the property is attached to this agreement as Exhibit "A" and incorporated by reference herein; and WHEREAS, the County is scheduled to do road improvements on 66th Avenue between 49th Street and 81St Street in the future and the road expansion will impact the Seller's property; and WHEREAS, in order for the County to proceed with its road expansion plans, the County needs to purchase property to be used as right-of-way from landowners along and adjacent to 66th Avenue; and WHEREAS, the County contacted the Seller and offered to purchase right-of-way of approximately 3,240 square feet or 0.07 acres of property as depicted on Exhibit "A", and WHEREAS, the Parties agree this is an arm's length transaction between the Seller and the County, without the threat of eminent domain. NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter, the COUNTY and SELLER agree as follows: 1. Recitals. The above recitals are affirmed as being true and correct and are incorporated herein. 2. Agreement to Purchase and Sell. The Seller hereby agrees to sell to the County, and the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement that certain parcel of real property located at 7855 66th Avenue, Vero Beach, Florida and more specifically described in the legal description attached as Exhibit "A", fee simple, containing approximately 3,240 square feet, all improvements thereon, together with all easements, rights and uses now or hereafter belonging thereto (collectively, the "Property"). 2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the Property shall be $20,000.00 (Twenty Thousand and 00/100 Dollars). The Purchase Price shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement, either by approval by the Indian River County Board of County Commissioners at a formal meeting