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obligation under paragraph 12(b)(4) of the Corrigan Agreement to provide a letter to Corrigan memorializing the District's intent to acquire Parcel 1 by filing eminent domain proceedings. The foregoing obligation remains exclusively with the District. 2. The County shall pay at closing to Corrigan the sum of Three Million, Two Hundred and Four Thousand, Six Hundred and Seventy and No/100 ($3,204,670) Dollars. This sum shall be the entire cost to the County and shall be inclusive of any costs incurred under the Corrigan Agreement associated with title examination, survey, environmental site assessment, documentary stamps, and any other matters. The District shall be responsible at closing for all costs in excess of the above -stated cost to the County. Any survey, title examination, appraisal or other costs, apart from the costs provided for in the Corrigan Agreement, that the County elects to incur related to the implementation of the land transactions provided for herein shall be the responsibility of the County; provided, however, that the District shall provide the County with an updated survey of the Property after the closing. 3. Immediately upon closing with Corrigan, the District and the County shall implement a real property exchange ("the District -County Exchange") as follows: (a) The County shall convey Parcel 1 under the Corrigan Agreement (460 acres) to the District via County Deed, reserving a conservation easement. The instrument to be executed by the County is attached as Exhibit D. (b) The County shall assign all of its rights under the Corrigan Easement to the District. (c) The District shall convey to the County an undivided 23.29 percent interest in the Property, as provided in attached Exhibit E. (d) It is expressly understood and agreed that neither party may dispose of their respective interests in the Property, in whole or in part, or otherwise encumber the Property, without the express written consent of the other party, except as provided in paragraph 5, below. Consent by the County shall be based upon formal action of the Indian River County Board of County Commissioners. Consent by the District shall be based upon formal action of the District's Governing Board. The parties shall record a deed restriction requiring mutual consent in order to alienate the Property or otherwise encumber their interest therein, as provided in attached Exhibit F. (e) The District shall provide the County with an "Owner's Affidavit of Title" as to the Property, as provided in attached Exhibit G. (f) It is expressly understood and agreed that neither party may annex or consent to annexation of the Property into a municipality without the express written consent of the other party. In addition, the District shall not annex or consent to the annexation of Parcel 1 under the Corrigan Agreement into a municipality without the County's consent. (g) After the conveyance of Parcel 1 to the District, the District shall make application to the County for a conservation land use classification for Parcel 1. In addition, the parties expressly acknowledge and agree that the development rights on Parcel 1 are extinguished. 2