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3120190004470 RECORDED IN THE RECORDS OF JEFFREY R. SMITH, CLERK OF CIRCUIT COURT INDIAN RIVER CO FL <br />BK: 3179 PG: 19,1/23/201.9 11:15 AM <br />_�/i/0 mac.. <br />THIS DOCUMENT PREPARED BY: <br />Elite Title of the Treasure Coast, Inc. <br />Darlene K. Pegg, CLC President <br />3055 Cardinal Drive, Suite 105 <br />Vero Beach, FL 32963 <br />ETTC File No.: ET -16537 <br />SHARED APPRECIATION AGREEMENT <br />INDIAN RIVER COUNTY HABITAT FOR HUMANITY, INC. <br />THIS AGREEMENT is made on January 17, 2019 (the "Effective Date") by and between <br />INDIAN RIVER COUNTY HABITAT FOR HUMANITY, INC., a Florida non-profit <br />corporation ("IRCHFH") and the homeowner ("Homeowner") identified below. The purpose of <br />this Agreement is to establish Homeowner's and IRCHFH's equity interests in the property in the <br />event of resale or contingent event, as defined below, and provide certain purchase options for the <br />parties. <br />DEFINITIONS <br />"Homeowner": Roselaine Civil, a single woman <br />"Property": Lot 38, Waterside, according to the map or plat thereof, as recorded in <br />Plat Book 26, Page(s) 12, of the Public Records of Indian River County, Florida. <br />Also known as: 2065 Waterside Way SW, Vero Beach, FL 32962 <br />"Purchase Price": $184,900.00 <br />"Initial Fair Market Value": $185,000.00 <br />"Fair Market Value": The greater of the sales price or market value of the Property as <br />reasonably determined by IRCHFH, or if such determination is disputed, by appraisal as described <br />in this Agreement. Fair Market Value is not necessarily determined by the actual sales price of the <br />Property. <br />"Habitat Note": Homeowner's promissory note to IRCHFH in the original amount of <br />$106,380.00. <br />"SHIP Note": Homeowner's promissory note to Board of County Commissioners of Indian <br />River County in the original amount of $0.00. <br />"Second Habitat Note": Homeowner's promissory note to IRCHFH in the original amount <br />of $77,035.00. <br />"Appreciation Amount": The increase in the Fair Market Value of the Property from the <br />Initial Fair Market Value. <br />