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LOT) <br /> , <br /> ANSIN (Environmental Lands Property) <br /> OPTION AGREEMENT FOR SALE AND PURCHASE <br /> THIS AGREEMENT is made this 21st day of June , 2005 , by and between RONALD M. <br /> ANSIN, , (" Seller"), and INDIAN RIVER <br /> COUNTY, apolitical subdivision of the State of Florida, whose address is 1840 25 `h Street, Vero Beach, <br /> Florida 32960 ("Purchaser" or "Local Government" or "County") . <br /> 1 . GRANT OF OPTION. Seller hereby grants to Purchaser the exclusive option to purchase the real <br /> property located in Indian River County, Florida, described in Exhibit "A" , together with all <br /> improvements, easements and appurtenances ("Environmental Lands Property" or "EL Property"), in <br /> accordance with the provisions of this Agreement. This Option Agreement becomes legally binding upon <br /> execution by the parties but exercise of the option is subject to approval by Purchaser and is effective only <br /> if the County, on behalf of Purchaser, gives written notice of exercise to Seller. <br /> 2 . OPTION TERMS . The option payment is $ 100 .00 (" Option Payment"). The Option Payment <br /> will be forwarded to Seller as soon as possible . The option may be exercised during the period beginning <br /> with the Purchaser's approval of this Agreement and ending on June 30 , 2005 (" Option Expiration Date "), <br /> unless extended by other provisions of this Agreement. In the event the Purchase Price (as hereinafter <br /> defined in paragraph 3 .A) is not available by the Option Expiration Date, the period of exercise of the <br /> option may be extended until such funds become available, not to exceed 30 days after the Option <br /> Expiration Date, by written notice to Seller. The parties agree to use their best efforts to exercise the <br /> option and close as soon as possible prior to the Option Expiration Date, so long as all requirements of this <br /> Agreement are fulfilled. <br /> 3 .A. TOTAL PURCHASE PRICE . The total purchase price (" Total Purchase Price" ) for the EL <br /> Property is ONE MILLION NINE HUNDRED THIRTY NINE THOUSAND FIVE HUNDRED and <br /> no/ 100 Dollars ($ 1 ,939, 500) which, after reduction by the amount of the Option Payment, will be paid by <br /> Purchaser by certified check or other cleared funds at closing to Seller or Seller's designated agent who <br /> meets the requirements of Section 253 . 025 , Florida Statutes , in the manner set forth herein. The Total <br /> Purchase Price is based on acreage estimates utilized in the appraisals obtained by the County: including a <br /> total acreage of approximately 32 . 3 acres, of which approximately 28 . 8 acres are upland; approximately <br /> 2 . 15 acres at the southwest corner of the tract is zoned commercial, and the remainder is zoned residential. <br /> The Purchaser will establish the final approved Total Purchase Price after completion and approval of the <br /> survey as required in paragraph 5 confirming sufficient acreage (total, wetland, commercial zoning, <br /> residential zoning) to support the Total Purchase Price. This Agreement is contingent upon approval of the <br /> survey, and consequent approval of the Total Purchase Price, by Purchaser. Conveyance of the EL <br /> Property in fee simple from Seller to Purchaser will take place at the closing, in exchange for the payments <br /> to be made by Purchaser to Seller at closing as set forth above in this paragraph 3 .A. <br /> 3 .13 . ADJUSTMENT OF TOTAL PURCHASE PRICE . If, prior to closing, Purchaser determines that <br /> the Total Purchase Price stated in paragraph 3 .A. exceeds the final County approved appraised value of the <br /> EL Property, the Purchaser in its sole discretion, shall have the right to terminate this Agreement and <br /> 02 / 21 / 05 <br /> Page 1 <br />