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ORIGINAL AGREEMENT O - - REAL ESTATE THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 29th Day of September, 2005, by and between Byron H. Beatty ("Seller"), and Indian River County, a political subdivision of the State of Florida ("County"), who agree as follows: 1. Agreement to Purchase and Sell; Effective Date. The Seller hereby agrees to sell to the County, and the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement, that certain rea! property described on Exhibits "Q" attached hereto and incorporated by this reference (Parcels 9, 11, and 15), and all improvements thereon, together with all easements, rights and uses now or hereafter belonging thereto (collectively, the "ROW Property"), The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement, either by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his delegated authority. 2. Purchase Price, Effective Date. The purchase price (the "Purchase Price") for the ROW Property shall be Two Hundred Ten Thousand Two -Hundred Thirteen and 00/100 Dollars ($210,213.00). The Purchase Price shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board. The necessary 3.40 acres of right-of-way, Zoned A-1, Agriculture with a Land Use Classification of AG -1, 1 unit per 5 acres and located outside of the Urban Service Area shall be purchased at a price of $60,000 per acre. The proposed ROW amounts to a total of 3.40 acres. 3.40 acres @ $60,000 per acre = 204,000.00 + $6,213.00 as referenced in 2.1 (d) below = $210,213.00. 2.1 The following are additional understandings and agreements of the parties: (a) The County or its contractor will move forward as soon as practicable to commence and complete the two-lane paving of 66th Avenue between 4th Street and State Road 60. It is anticipated as of the time of execution of this Agreement that 66th Avenue paving will commence within 24 months. (b) Site improvements (paving) to the benefit of the property owner, related to the 66th Avenue Project, as depicted on the plans will be completed at no expense to the property owner. (c) The Agreement is subject to the granting, by the seller, of blanket 10 -foot temporary construction easements along the construction corridor. (d) See attached "Addendum No,1 to Agreement". Addendum No. 1 is attached hereto 1 F:\Engmeering\RonC\Word Docs\Byron Beatty agreement 2.doc