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AGREEMENT TO PURCHASE AND SELL REAL ESTATE BETWEEN THE SANACK FAMILY LTD. PARTNERSHIP AND INDIAN RIVER CO. THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement's is made and entered into as of the _8 day of _ RPR I t , 200.8 by and between Indian River County, a political subdivision of the State of Florida ("the County"), and The Banack Family Ltd. Partnership ("Seller"), who agree as follows: WHEREAS, The Banack Family Ltd. Partnership owns a parcel of land located at the SW corner of 66rs Avenue and 57u'Street, Vero Beach, Florida in Indian River County, Parcel ID 32-39-18-00001-0090-00001.0. A sketch and legal description of the property is attached to this agreement as Exhibit "A" and incorporated by reference herein; and WHEREAS, the County, is scheduled to expand 60" Avenue in the near future and the road expansion will impact and affect The Banack Family Ltd. Partnership's property; and WHEREAS, in order for the County to proceed with its road expansion plans, the County needs to purchase property to be used as right-of-way from landowners adjacent to 6e Avenue; and WHEREAS, the County has contacted The Banack Family Ltd. Partnership and has offered to purchase a total of 213,818 square feet (consisting of 3.573 acres for parcel 103 and 1.331 acres for parcel 402) of property from The Banack Family Ltd. Partnership to be used as right-of-way and for a stormwater retention pond as depicted on Exhibit "A" (the Property); and WHEREAS, The Banack Family Ltd. Partnership is represented by Raymer F. Maguire ill of the law firm of Fixel, Maguire & Willis, 1010 Executive Center Drive, Suite 121, Orlando; Florida; and WHEREAS, the County is prepared to take the Property by using its power of eminent domain; and WHEREAS, The Banack. Family Ltd. Partnership and the County wish to avoid the risk, time and expense of litigation by entering into this agreement for sale and purchase of the Property;