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C> <br />4R <br />wnMrNto+�til <br />rR"ARY K. SAA'fell <br />ftaRtt CIRCUIT eauj* <br />Prepared by sw*netw7H*: 4111"M MM M UL <br />Ralph L. Evans, 6sgoire ��L" <br />Stewart & Evarta, PA. G"�XL% <br />3333 ceean. Drive�} <br />Vero Boaeh, FL 32993 I er <br />Et/ courthouse Box 480 WM <br />JWNWILM"MouWa co <br />0 <br />LA) <br />GM <br /><, r <br />The undersigned QUAIL VALLEY CLUB, LLC., 2801 Ocean Drive, Suits 201 B, <br />Vero Beach, Florida, hereinafter referred to as "Optionor" hereby acknowledges <br />receipt of the sum of $10.00 and other good and valuable consideration, from the <br />� <br />County of Indian River, Florida, 1840 25'h Street, Vero Beach, hereinafter referred to <br />as "Optionee". <br />In consideration therefor, and the mutual covenants hereinafter expressed, <br />C) <br />the Optionor hereby grants to the Optionee the exclusive option to purchase, for the <br />price and on the terms and conditions hereinafter set forth, the following described <br />w <br />- , <br />real property located in Indian River County, Florida, to wit: <br />w <br />!:. <br />Cll <br />an <br />C� <br />U <br />SEE EXHIBIT "A" ATTACHE] <br />The 'purchase price for the property shall be its fair market value. Fair market <br />value shall be determined by the average of the values rendered by two separate <br />MAI appraisals, one obtained by the Optionor, and the other obtained by the <br />Optionee. The use of the property for which the fair market value shall be <br />determined shall be "agriculture", for citrus production or citrus -like production. <br />The Optionor agrees that fair market value shall not include a consideration for <br />severance damages or business damages as those terms are used in eminent <br />domain proceedings. Further, Optionor agrees that Optionor shall not be <br />compensated for the loss of, the relocation of, and/or the destruction of any <br />improvements existing on the property at the time the option is exercised. <br />= <br />The term of the option shall be 25 years. However, the Optionee shall have <br />W <br />the right to extend the option for an additional 15 years. The option shall be+ <br />exercised by Optionee delivering to Optionor written notice of such exercise on or <br />before the expiration date of the option or the extended option, as the case may be. <br />To extend the option, the Optionee shall deliver to the Optionor written notice of <br />Optionee's election to extend no later than the last day of the initial option. <br />co <br />