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ADDENDUM B Escrow for closing of EL Property and ROW Property In accordance with the agreement of the parties in this Agreement (the "EL Agreement") and the ROW Agreement that the two transactions shall be conditioned upon each other, all parties of both agreements agree to the following closing and escrow procedure : 1 . Closings under the EL Agreement and ROW Agreement (the "Ansin Agreements") will be held at one time, determined in accordance with the EL Agreement. The closing agent will be Seller' s attorney acting as agent of the title insurance company. The escrow agent will be a title company or attorney designated by the County, with the approval of the Seller, which approval shall not be unreasonably withheld . The County may designate the closing agent as escrow agent. 2 . Prior to the closing all parties to the Ansin Agreements will execute an escrow agreement in the form attached hereto as Addendum C . At the closing all documents necessary to complete the transfer of title and all other requirements of the Ansin Agreements will be deposited in escrow with the escrow agent attached to the ROW Agreement. The following documents will be so deposited: Deed from Ronald A. Ansin under the EL Agrement; County funds for the purchase under the EL Agreement; deeds from Edmund N. Ansin and RO-ED Corporation under the ROW Agreement; fully executed Impact Fees Credit Agreement; executed closing statements ; corrective documents, if any, in accordance with the Ansin Agreements; any and all other documents required to complete the transactions in accordance with the Ansin Agreements . 3 . As soon as practicable after closing in escrow the County will schedule Board of County Commission consideration of the right-of-way abandonment contemplated by the ROW Agreement. Upon written notification from the County to the escrow agent and closing agent that the abandonment has been completed, the escrow agent shall obtain from the closing agent a check down of the title to the then current date, record all documents to be recorded, release all funds as set forth in the closing statements, and deliver any other documents in the escrow to the appropriate parties . The escrow shall then be terminated as of the completion of these tasks by the escrow agent. Upon written notification from the County that the abandonment has not been approved, the escrow agent shall return all documents and funds to the depositors and the escrow shall be terminated as of completion of these tasks . If for any reason the escrow has not been terminated by 5 :O0PM Eastern on August 5 . 2005 , the escrow agent shall as soon as possible thereafter return all documents and funds to the depositors and the escrow shall be terminated as of completion of these tasks . SELLER: COUNTY: ICON�ANSIN INDIAN RIVER COUNTY, FLORIDA By: L � Date signed: 'I A Y y' 2 12A Date Signed: June 21 , 2005 l Atte".. K. Barton, ClC 1 � By Ran '/�.`� IDeputy C err 02 / 21 / 05 Page 30