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Right -of -Way. The estimated cost of the Proposed Trail is $830,520.24 EIGHT HUNDRED THIRTY THOUSAND FIVE HUNDRED TWENTY DOLLARS AND TWENTY- FOUR CENTS, as evidenced by the Engineer's Opinion of Probable Cost attached to this Agreement as Exhibit "C" and incorporated by reference herein. The District shall consider the purchase price paid upon completion and acceptance of the Proposed Trail by the Co-owners. The Effective Date of this Agreement shall be the date when the last of the District or the County has executed the same, and that date shall be inserted at the top of the first page hereof. 3. Easement. The District shall convey the Easement free of claims, known to the District that would prohibit or materially affect the County from constructing of the Proposed Trail. In the event the County fails to construct the Proposed Trail, the Easement will automatically terminate. 4. Closing Costs: Expenses. The County and the District shall be responsible for preparation of all Closing documents. The County shall pay all Closing Costs. 5. Miscellaneous. This Agreement constitutes the entire agreement between the parties with respect to this transaction and any modification or amendment to this Agreement shall be effective only if in writing and executed by each of the parties. 6. Notices. Any notice shall be deemed duly served if personally served or if mailed by certified mail, return receipt requested, or if sent via "overnight" courier service or facsimile transmission, as follows: If to District: St. John's River Water Management District 4049 Reid Road Palatka, FL 32177 Attn: Real Estate Services Program Director Email: realestateservicesCcDsirwmd.com If to the County: Indian River County 1801 27th Street Vero Beach, FL 32960 Attn: James Mann, Infrastructure Project Manager Either party may change the information above by giving written notice of such change as provided in this paragraph. 7. Counterparts. This Agreement may be executed in two or more counterparts, each one of which shall constitute an original. 8. County Approval Required: This Agreement is subject to approval by the Indian River County Board of County Commissioners as set forth in paragraph 2.