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