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REAL ESTATE EXCHANGE AGREEMENT Between INDIAN RIVER COUNTY AND PARADISE CENTRAL CORPORATION This Real Estate Exchange Agreement (Exchange) entered into this 16 day of October, 2018 between Indian River County, a political subdivision of the State of Florida ("the County") 1801 27th Street, Vero Beach, Florida 32960; and Paradise Central Corporation, 1570 561' Square West, Vero Beach, Florida 32966 ("Paradise"). WHEREAS, the County plans widening and improvements to the intersection of State Road 60 and 43rd Avenue that will require the utilization of part of Paradise's property located on the southwest corner of State Road 60 and 43`d Avenue, Vero Beach, Florida; and WHEREAS, the County must acquire 4,140 square feet (0.095) Acres of land to be used as right-of-way along SR 60 and 43`d Avenue from Paradise; and WHEREAS, the County owns a parcel of land (former Lennie's Lounge property) that is 6,098 square feet (0.14 acres) that lies adjacent to the Paradise property; and WHEREAS, in order to mitigate the impacts of the loss of property due to the intersection expansion, the County has offered to exchange its Lennie's Lounge remainder property as part of an Agreement for the purchase of the needed Paradise property; and WHEREAS, this Exchange is a part of that certain Purchase Agreement between Paradise and the Florida Department of Transportation (FDOT) dated September 20, 2018, attached as Exhibit A and incorporated herein by reference; and WHEREAS, the County and Paradise hereby agree to an exchange of portions of their respective properties; and WHEREAS, each party is indivisibly seized of their respective parcel of property and shall convey marketable title to their respective parcel by County or warranty deed free of claims, liens, easements, and encumbrances, but subject to property taxes for the year of closing; and WHEREAS, this Exchange Agreement is subject to final approval by the Indian River County Board of County Commissioners (BCC) through the adoption of a Resolution. Such an exchange is allowed under Section 125.37, Florida Statutes. Notice is required to be published once a week for two weeks before consideration by the BCC. NOW THEREFORE, in consideration of the mutual terms, conditions, promises and covenants hereinafter, Paradise and the County agree as follows: 1. The above recitals are true and correct and incorporated by reference into this agreement.