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C-1 <br />s <br />171 <br />A <br />017W RIFIG litre OP <br />{ + Prepared by wA1vetm•"rto: ,1ef1R4'Rr K. SANTON <br />Ralph I V st..nL,birane,EaqEvans, P Ti. uiro DOCUMENTARY STAMPS CLEFIXCIRCUITCOt1RT <br />3388 Ocean Drive DEED�" � t'u...« <br />StevaINDIAN RIVER CO., , <br />� <br />[� Vero Beach. FL 389931'10 <br />Courthouae Bax 1180 NOTES 0— 003 .F_ <br />JEFFREY RAWN, CLERK co <br />WDiAM FWFA GWNTY <br />W <br />i, <br />OPTION TO PURCHASE REAL PROPERTY <br />The undersigned QUAIL VALLEY CLUB, LLC., 2801 Ocean Drive, Suite 201B, <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 c> > <br />s County of Indian River, Florida, 1840 25th Street, Vero Beach, hereinafter referred to <br />y - as "Optionee". <br />z _ <br />p In consideration therefor, and the mutual covenants hereinafter expressed, -� <br />the Optionor hereby grants to the Optionee the exclusive option to purchase, for the <br />a price and on the terms and conditions hereinafter set forth, the following described <br />ca <br />real property located in Indian River County, Florida, to wit: w <br />r � <br />Ci <br />SEE EXHIBIT "A'" ATTACHED <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 />:sr <br />The term of the option shall be 25 years. However, the Optionee shall have <br />the right to extend the option for an additional 1.5 years. The option shall be <br />exercised by Optionee delivering to Optionor written notice of such exercise on or CT1 <br />before the expiration date of the option or the extended option, as the case may be. _0 <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. uD <br />OD <br />Cn <br />