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AGREEMENT TO PURCHASE, SELL, AND LEASE REAL ESTATE BETWEEN CREC CAPITAL IR, LLC AND/OR ASSIGNS AND MYRON MADSEN JR & DAVENE MADSEN THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of this ��day of April, 2023, by and between CREC Capital IR, LLC, a Florida limited liability company, and/or assigns ("the Buyer"), and Myron Madsen, Jr. & Davene Madsen, ("the Seller) who agree as follows: WHEREAS, Seller owns property located at 3146 US Highway 1, 1375 32nd Street, 1385 32nd Street and 3136 US Highway 1, Vero Beach, Florida 32960. A legal description of the property is attached to this agreement as Exhibit "A" and incorporated by reference herein; and NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter, the BUYER and SELLER agree as follows - 1 . ollows: 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 Buyer, and the Buyer hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement that certain parcel of real property located at 3146 US Highway 1, 1375 32nd Street, 1385 32nd Street and 3136 US Highway 1, Vero Beach, Florida 32960 (Parcel A) and more specifically described in the legal descriptions attached as Exhibit "A", fee simple, containing a total of approximately 0.066 acres, all improvements thereon, together with all easements, rights and uses now or hereafter belonging thereto (collectively, the "Properties"). 2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the Properties shall be $ 1,100,000.00 (One Million and One Hundred Thousand 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 Buyer shall have approved the execution of this Agreement. 2.2 Deposits. Within five (5) days of the Effective Date of this Agreement, BUYER shall deposit, and cause to be placed in an escrow account maintained by the Escrow Agent (The Law office of Barry G. Segal, P.A) the amount of TWENTY-FIVE THOUSAND AND 00/100 DOLLARS ($25,000.00) to be paid in the manner described below ("Earnest Money"). Buyer's obligation to close the transaction in accordance with provisions of this Agreement is contingent upon the Seller's ability to deliver good and marketable title for the Property and to satisfy any other conditions set forth herein. Should the Seller default hereunder, the Buyer shall be entitled to an immediate refund of the entire sum of the Earnest Money held by the Escrow Agent.