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AGREEMENT TO PURCHASE AND SELL REAL ESTATE THIS AGREEMENT is entered into as of the day of June, 2021, by and between. Indian River County, a political subdivision of the State of Florida, whose address is 1801 27th Street, Vero Beach, FL 32960 ("County"), and Fredrick L. Lipfert, Trustee of the Frederick L. Lipfert and Norma C. Lipfort Trust Agreement dated February 14, 2013, whose address is 2536 1st Street, Vero Beach, FL 32962 ("Lipfert"). WHEREAS_, Lipfertowns a.12.25-acre_parcel of improved land located at 7905 66th Avenue, Vero Beach, FL 32966 on the west side of 66th Avenue and north of 61St Street as depicted on the aerial photo attached as Exhibit "A"; and WHEREAS, the parcel is zoned A-1, Agricultural, up to one residential unit per five acres and lies outside of the Urban Services Boundary; and WHEREAS, County is undertaking a road expansion project consisting of the widening of 66th Avenue north of 49th Street to County Road 510, for which County needs a 1.07 acre parcel of property (Property) at the eastern edge of the parcel to be used as right-of-way; and . . WHEREAS, in, order to avoid the.uncertainty of trial and the costs of litigation, the Parties have agreed to purchase and sell the above parcel of Property to be used for the second phase of the 66t' Avenue Improvement Project. NOW THEREFORE, in consideration of the mutual undertakings herein, and other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, the parties agree, as follows: Recitals. The above recitals are true and correct and are incorporated herein. 1. Agreement to Purchase and Sell. Lipfert hereby agrees to sell to the County, and the County hereby agrees to purchase from Lipfert, upon the terms and conditions set forth in this Agreement, the 1.07 acre parcel of real property and more specifically described in Exhibit "B" attached and incorporated by reference herein. 2. Purchase Price; Effective Date. The ,purchase price (the "Purchase Price' for the Property shall be FORTY-FIVE THOUSAND FOUR HUNDRED SEVENTY FIVE dollars ($45,475.00). 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, by the Indian River County Board of County Commissioners at a formal meeting of such Board. 3. Title to the Property. Lipfert shall convey marketable title to the Property by warranty deed free of claims, liens, easements and encumbrances of record or known to Lipfert; .but. subject to property taxes for the year of Closing and subject to covenants, restrictions and public utility easements of record provided (a) there exists at Closing no 141