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AGREEMENT TO PURCHASE AND SELL REAL ESTATE 5 <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is <br /> made and entered into as of the a <br /> D -day of 2005 , by and between Indian <br /> River County, a political subdivision of the State of Florida ( "County" ) , and EDMUND N . <br /> ANSIN , TRUSTEE , of 1401 79th Street Causeway, Miami , FL 33141 ; and RO- ED <br /> Corporation , a Florida corporation , of 1401 79th Street Causeway, Miami , FL 33141 , <br /> (collectively "Seller" ) , who agree as follows : <br /> 1 . Agreement to Purchase and Sell ; Effective Date The Seller hereby agrees to sell to <br /> the County, and the County hereby agrees to purchase from Seller, upon the terms and <br /> conditions set forth in this Agreement , that certain real property described on Exhibit "A" <br /> attached hereto and incorporated by this reference , and all improvements thereon , together <br /> 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 <br /> County shall have approved the execution of this Agreement , either by approval by the Indian <br /> River County Board of County Commissioners at a formal meeting of such Board or by the <br /> County Administrator pursuant to his delegated authority . If this Agreement is first executed <br /> by Seller, Seller may terminate this Agreement by notice to County if such Effective Date is <br /> later than 60 days after the date the last Seller to sign does so . <br /> 2 . Purchase Price . The purchase price (the " Purchase Price ") for the ROW Property <br /> shall be as follows : <br /> (a ) Abandonment by the County in favor of the current adjacent owners of existing rights <br /> of way in favor of the County over real property described in Exhibit " B . <br /> ( b ) Credits for road/transportation impact fees granted by the County in the amount of <br /> $ 918 , 588 in accordance with the agreement entitled "Application for Traffic Impact Fees <br /> Credit Assignment" (" Impact Fees Credit Agreement") , which is attached and made part of <br /> this Agreement as Exhibit " C " shall be executed by Seller and County . The impact fee credits <br /> may be assigned , all or in part , by Seller to succeeding fee title owners of property currently <br /> owned by Seller north of 77th Street in Indian River County. <br /> ( c) The County shall pay a deposit of $ 100 as soon as possible after the Effective Date of <br /> this Agreement . The deposit will be credited to the County at closing . <br /> 2 . 1 The following are additional understandings and agreements of the parties : <br /> ( a ) The County will move forward as soon as practicable to commence and complete the <br /> CR 512 widening . It is anticipated as of the time of execution of this Agreement that CR 512 <br /> widening east of 1 .95 will be completed within 4 years . It is anticipated as of the time of <br /> execution of this Agreement that widening west of 1 = 95 will be commenced within 6 years <br /> unless development does not proceed west of k95 in that time frame in which case the <br /> widening will commence within 8 years . <br /> J <br /> 1 /18/05 1 <br />