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INTERLOCAL AGREEMENT between INDIAN RIVER COUNTY, FLORIDA and CITY OF SEBASTIAN This Interlocal Agreement, entered into this RA&, day • 1999 by and between INDIAN RIVER COUNTY, FLORIDA, a political subdivision of the State of Florida, by and through its Board of County Commissioners, hereinafter referred to as COUNTY and the CITY OF SEBASTIAN, a Florida municipal corporation, hereinafter referred to as CITY, for the purpose of purchasing property to expand Riverview Park. WITNESSETH: WHEREAS, the COUNTY and CITY are interested in expanding Riverview Park so that it may be enjoyed by City and County residents; and WHEREAS, CITY has entered into an "Agreement for Option to Purchase" river front property adjacent to the existing park which will allow expansion of the existing park; and WHEREAS, both the COUNTY and CITY can assist each other through a joint effort where the COUNTY will provide funds to aid in the purchase of said property; and WHEREAS, an undertaking of this nature is in keeping with the "Florida Interlocal Cooperation Act of 1969" as set forth in Chapter 163, F.S. NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter set forth and pursuant to the statutory authority contained in Chapter 163, F.S., the COUNTY and CITY agree as follows: 1. The COUNTY shall contribute $200,000 towards the purchase by the CITY of vacant property to be used for expanding Riverview Park in the city limits. 2. The condition of this pledge is that the CITY shall be responsible for raising the balance of the purchase price of the property and closes on the property, all as set forth in the "Agreement for Option to Purchase" which also contains the legal description of the property to be purchased.