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r r L Recitals . The above recitals are affirmed as being true and correct and are hereby incorporated by reference . 2 . Aereement to Exchange . The County hereby agrees to convey to Grand Harbor the County Right-of-Way, and Grand Harbor hereby agrees to convey to the County the Developer Property, in accordance with the terms and conditions set forth herein. 3 . Additional Compensation to County . The parties acknowledge that the square footage of the County Right-of-Way exceeds the square footage of the Developer Property. Therefore, in addition to Grand Harbor ' s conveyance of the Developer Property to County, Grand Harbor agrees to pay County Thirty-Five Thousand Eight Hundred Ninety Dollars and Twelve Cents ($ 35 , 890 . 12) as additional compensation (the "Additional Monies") , which Additional Monies are agreed to represent the fair market value of said excess square footage of the County Right-of-Way based upon the price paid by Grand Harbor for other adjacent land . 4 . ExchanLe of Property. Within 30 days of approval of this Agreement by the County, Grand Harbor shall send notice to the County and shall schedule a closing of the transaction contemplated by this Agreement at a time that is mutually convenient to the County and Grand Harbor. At the Closing the parties shall exchange deeds and compensation as provided for in this Agreement . The place of the Closing shall be the office of the County Attorney for Indian River County, unless otherwise agreed to by the parties . At the closing the County shall deliver to the Grand Harbor (or to a related entity designated by Grand Harbor) an executed Statutory Deed in accordance with Section 125 .411 , Florida Statutes, for the County Right-of-Way ( " County Deed " ) . At the Closing, Grand Harbor shall convey to the County by Special Warranty Deed the \\ftl-srv01\DARELLIP\401987v12\8m6b 121 .DOC\3/13/03\24380.010100 3