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REAL ESTATE EXCHANGE AGREEMENT Between INDIAN RIVER COUNTY AND BRIAN R. AND GAYLE P. WATSON This Real Estate Exchange Agreement (Agreement) entered into this 10th day of September , 2019 between Indian River County, a political subdivision of the State of Florida ("the County") 1801 27th Street, Vero Beach, Florida 32960; and Brian R. and Gayle P. Watson, husband and wife, 475 43rd Avenue SW, Vero Beach, Florida 32968 ("Watson"). WHEREAS, the County has future plans to widen and improve 43rd Avenue between Oslo Road and 4th Street that will require the utilization of part of the Watson property located on 43rd Avenue, Vero Beach, Florida; and WHEREAS, the County owns a parcel of land adjacent to the west of the Watson property (former Stump Dump) that runs parallel to 43rd Avenue; and WHEREAS, in order to mitigate the impact of the loss of property due to the future road expansion, the County has offered to exchange a portion of the Stump Dump property together with an easement for ingress/egress thereto in exchange for the needed Watson property; and WHEREAS, the County and the Watsons 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, the Watson and the County agree as follows: 1. The above recitals are true and correct and incorporated by reference into this agreement. 2. The County hereby agrees to convey by County Deed to the Watsons a 0.15 acre (6,475 sq. ft.) parcel of property depicted on the sketch and legal description attached and incorporated by reference to this Agreement as Exhibit A.