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AGREEMENT TO PURCHASE AND SELL REAL ESTATE BETWEEN INDIAN RIVER COUNTY AND BALQUEES, LLC THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the day of January, 2020, by and between Indian River County, a political subdivision of the State of Florida ("the County"), and Balquees, LLC, a Florida limited liability company ("the Seller) who agree as follows: WHEREAS, the County is purchasing right-of-way and stormwater treatment pond sites for future reconstruction of 45th Street between 43rd Avenue and 58th Avenue; and WHEREAS, Seller owns property located at 4710 45th Street, Vero Beach, Florida 32967 (Property). A legal description of the property is attached to this agreement as Exhibit "A" and incorporated by reference herein; and WHEREAS in order to proceed with reconstruction plans, the County needs to purchase the Property to be used as right-of-way, stormwater treatment and flood plain compensation; and WHEREAS, the County contacted the Seller to purchase the parcel of approximately 459,558 square feet or 10.55 acres of property as depicted on Exhibit "A", and WHEREAS, the County is currently purchasing property/right-of-way from willing sellers: and 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 4710 45th Street, Vero Beach, Florida and more specifically described in the legal description attached as Exhibit "A", fee simple, containing approximately 10.55 acres, 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 $474,750.00 (Four Hundred Seventy -Four Thousand Seven Hundred Fifty 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 of such Board or by the County Administrator pursuant to his delegated authority. 93