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FRAM : EQUITY INVESTMENTS FAX N0 . : 5615156138 Dec . 17 2003 09 : 02AM P2 ` Sent BY . INDIAN RIVER Co ' `` • � V/ , ' 1 772 978 Ian ; Dec - 17 - 03 8 : 15AMi Page 2 / 2 ORIGINK AGREEMENT TO PURCHASE AND SELF, REAL ESTATE THIS AGREEMENT TO PURCHASE AND SELi., and entered into as of the bf b day or n a „ ry I;LEA L ESTATE (,6 ASrmnctzt,) is ma le County, a Political subdivision of the State of Florida ZUo 4 , by and bctwCen Indian River LLC. a Florida Ilnnited liability company, (�cSeiler� (,,County"), and Equity Investments, Who agr a as follows ; 1 . A�rcement to urca� d Sell T110 Seller hereby agrees to sell to the Gourtt Courcy hereby agrees to purchase from Seller, u Agreement, that Celt ain parcel of real Property Ippon the terms and conditions set fo�1 , the Avenue , Coun A P Y ted on the north side of 26"' Street, est of 6 us tyoflndian River, State ofFIorida and more specifically described on Exlubit `cA,'* containing approximately 2. 726 acres, and all improvements thcreOt2, tugetherwith all easements, rights and �� now or hereafter belonging thereto (collectively, the "Pro C°ts' 2 . 726 acres to be oonvcy� a 5 ' x 3001, or .{}344 acre strip "Property) * Note: Of the total make up the site 's 60-foot minimum right - P is dedicated without compensation to Regulations. The Purchase Price is for fright- ince y deflc Cres x $40 52l c"cYo PUT my Land Development 2. pet acre = $ 1090%6.32)• P base ice 1~,ffective bate. The shall be One Hundred Nine Thousand SIx Purchase puree (the Purchase Price") for the Pro em The Purchase Price shall be paid on the Closing Date. Effective S and tAate o1 this A , P the slate ah'-Two Cents ($109,Otib�32). pen which the C. , ]WY shall have approved the ex � entsalibe approval by the Indian Pjver County Board of County Cohan 0'Ut iers at Agri meeting of such J30drd or by the County Administrator pursuant to his delegated authority. 3 • 'tie. Seller shall convey mxrketablo title to the Pro liens, eaetrnc= and encumbrances ofrecobl title to t e , ply by warranty deed free of claims, year of Closing and covcnantR, restrictions and public utility aasementser, but bo f eLect u praxcvovided of rthe exisu at Closing no violation of any of the i'oregoirrg; and ( ) COuntY's intended use and developm= of the Property (b) none of the foregoing Prevents 3 .2 County may order an Ownarshi anti County shall, within PCunibrance Report with reslrect to the Property. thirty {30) days from wither, receipt of the Own ershi and Enc or execution of this contract by alI parties (whiehcver occurs last) deliver written notice to Seller of A umbrance Report, title defects. Title shall be doemcd a"cptable to County if (a) County faits ie deliver notice of defects within il,e time sPeciftcd, or (b) County deliver.; notice and use bthirty (30) days from receipt ofuotiee from County oftitle defects Murati c Period jSeller curcs the c Sellers all use best efforts to cure the defects within the Curative Period and if the title defects are not cured Within the Curative Period, County shall have t elect, by written notice to Selle , to: (i} to terminatrteyth30) days from the end of the Curative Period to force and effect, or (ii) extend the Cutati ve Period for i s eadditio a h=udan s� he ofno further subject to existing defects and proceed to closing. � 3s; or (iii) accept title 40 recenta_ riens ofthc Seller, 4 . 1 Sellcr is indefeasibly seized of markefable, fee siu is � title to the Property, and is the sole Sundud Agmrnunt . r.&COunty x F..qui1y lnvesuaents. t .LC. I