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NOW, THEREFORE, for and in consideration of the premises, the sum of Ten and No/100 Dollars ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby covenant and agree as follows: 1. Recitals. The recitals set forth hereinabove are true and correct in all respects and are incorporated herein by reference as if set forth herein verbatim. 2. Dedication of Right -of -Way for Extension of 46th Place. Florida Tech and County each agree to dedicate property for the extension of 46th Place to the Florida Tech Parcel as follows: (a) Dedication of Right -of -Way by Florida Tech. Florida Tech agrees to execute and deliver to County, simultaneously with the execution of this Agreement, a Right -of - Way Deed conveying to County the real property described in Exhibit "C", attached hereto and incorporated herein by reference, for use as public right-of-way and related purposes. The Right - of -Way Deed shall be in form and content as set forth in Exhibit "D", attached hereto and incorporated herein by reference. County covenants and agrees that in the event the real property described in Exhibit "C" or any portion thereof is ever abandoned by the County as a public right-of-way, County shall grant a perpetual non-exclusive easement for ingress and egress to Florida Tech, and its successors and assigns, over such real property. Florida Tech covenants and agrees to pay the cost of state documentary stamps and recording fees for the recording of the Right -of -Way Deed. (b) Creation of Right -of -Way by County. County agrees to dedicate, and by the execution of this Agreement does hereby dedicate, the real property described in Exhibit "E", attached hereto and incorporated herein by reference, for use as public right-of-way and related purposes. County agrees to cause its right-of-way maps and records to be amended to reflect the dedications provided for in this paragraph 2. County covenants and agrees that in the event the real property described in Exhibit "E" or any portion thereof is ever abandoned by the County as a public right-of-way, County shall grant a perpetual non-exclusive easement for ingress and egress to Florida Tech, and its successors and assigns, over such real property. 3. Conveyance of Properly to County by Florida Tech. Florida Tech agrees to execute and deliver to County, simultaneously with the execution of this Agreement, a Special Warranty Deed conveying to County fee simple title in and to the real property described in Exhibit "F", attached hereto and incorporated herein by reference. The Special Warranty Deed shall be in form and content as set forth in Exhibit "G", attached hereto and incorporated herein by reference. Florida Tech covenants and agrees to pay the cost of state documentary stamps and recording fees for the recording of the Special Warranty Deed. 4. Creation of Vegetative Buffer Easement. Florida Tech agrees to execute and deliver to County, simultaneous with the execution of this Agreement, a Vegetative Buffer Easement establishing a vegetative buffer easement over and across the real property described in Exhibit "H", attached hereto and incorporated herein by reference. The Vegetative Buffer Easement shall be in form and content as set forth in Exhibit "I", attached hereto and incorporated herein by reference. Florida Tech covenants and agrees to pay the cost of state documentary stamps and recording fees for the recording of the Vegetative Buffer Easement. -2- 02073544.v2