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691293.1
<br /> Prepared by and Return to:
<br /> Karen D. Geller, Esq.
<br /> Gunster, Yoakley& Stewart, P.A.
<br /> 800 SE Monterey Commons Blvd., Ste. 200
<br /> Stuart, Florida 34996
<br /> (772)288-1980
<br /> ASSIGNMENT AND ASSUMPTION OF RIGHTS AND OBLIGATIONS
<br /> REGARDING JOE EARMAN PARK
<br /> THIS ASSIGNMENT OF RIGHTS AND OBLIGATIONS REGARDING JOE EARMAN
<br /> PARK ("Assignment") is effective as of this 31 sr day of 2003 ("Transfer
<br /> Date") between LOST TREE VILLAGE CORPORATION, a Florida corporation ("Assignor"),
<br /> whose office address is: 3399 PGA Boulevard, Suite 260, Palm Beach Gardens, Florida 33410
<br /> to CITY OF VERO BEACH, a municipality within Indian River County, Florida ("City"), whose
<br /> address is: c/o Planning Department, 1053 20th Place, Vero Beach, Florida 32960; the TOWN
<br /> OF INDIAN RIVER SHORES, a municipality within Indian River County, Florida ("Town"),
<br /> whose address is: c/o Town Offices, 6001 North A1A, Vero Beach, Florida 32963; and INDIAN
<br /> RIVER COUNTY, a political subdivision in the State of Florida ("County") whose address is c/o
<br /> Planning Department, 1840 25th Street, Vero Beach, Florida 32960 (City, Town and County
<br /> shall be collectively referred to as "Assignee")
<br /> RECITALS
<br /> WHEREAS, Assignor and Assignee have entered into that certain Contract for Bargain
<br /> Sale of Real Estate dated December 17, 2002 ("Contract"), wherein Seller agreed to sell and
<br /> Purchaser agreed to purchase certain real property located and being in Indian River County,
<br /> Florida, more particularly described in the Contract and closing documents executed in
<br /> connection therewith (the "Property"); and
<br /> WHEREAS, pursuant to the terms of the Contract, Assignee agreed to assume
<br /> Assignor's obligations to the FLORIDA INLAND NAVIAGATION DISTRICT, an independent
<br /> special district authorized and existing by virtue of the laws of the State of Florida ("FIND") with
<br /> regard to the relocation of the Joe Earman Park ("Park"); and
<br /> WHEREAS, Assignor desires to assign to Assignee all of Assignor's rights, duties, and
<br /> obligations to FIND with regard to the relocation of the Park, and Assignee has agreed to accept
<br /> and assume all such rights, duties, and obligations.
<br /> NOW, THEREFORE, for and in consideration of the sum of TEN AND 00/100 ($10.00)
<br /> DOLLARS and other good and valuable consideration, the receipt and adequacy of which are
<br /> hereby acknowledged, Assignor hereby grants, transfers, conveys, and assigns to Assignee,
<br /> Assignor's rights, duties and obligations to FIND with regard to the relocation of the Park as
<br /> further described below.
<br /> 1. The above Recitals are true and correct and incorporated herein by reference.
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