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03/ 29/ 2007 13 : 52 7725694317 COATTV PAGE 03 <br /> NOW THEREFORE, in consideration of the mutual benefits to be derived from joint <br /> participation and other good and sufficient consideration, the parties agree to the following: <br /> 1 . The recitals set forth above are true and correct and are deemed incorporated herein. <br /> 2. Stormwater Retention Parcel and 20th Avenue Right-of-way . By a standard commercially <br /> reasonable contract for sale and purchase sepefate daeumeat, the SCHOOL DISTRICT will convey to <br /> the COUNTY a 1 .53.L acre parcel of property located at the southwest comer of the SCHOOL <br /> DISTRICT property and a 32 foot strip of property running parallel to 20th Avenue. A sketch and <br /> legal description of the 1 . 53 acre parcel of property is attached to this agreement as Exhibit B and a <br /> sketch and legal description of the 32 foot strip property is attached to this agreement as Exhibit C <br /> and both exhibits are incorporated by reference here in . The COUNTY shall obtain an appraisal of <br /> the parcels of property and provide the SCHOOL DISTRICT with a copy of same upon receipt. The <br /> purchase price for the parcels of property will be the appraisal price or the offer once of 1397,000. <br /> which ever is greater. The appraisal shall be performed by a Florida licensed appraiser. The <br /> COUNTY will construct at its sole expense, a 185 ' x 360' (approximate) stormwater retention pond <br /> and outfall structure to the sub-lateral canal of sufficient size to treat siormwater runoff from the <br /> expanded Oslo Road. The COUNTY shall size the outfall pipe to accommodate the SCHOOL <br /> DISTRICT potential needs for future pond enlargement. Any soil excavated in constructing the pond <br /> shall be the property of the COUNTY for use in their road construction project. The COUNTY shall <br /> erect a fence surrounding the retention area that may be moved (subject to County permitting <br /> requirements) if the SCHOOL DISTRICT improves their property. Any surveying, permits, title <br /> work, recording fees or other costs associated with the conveyance shall be bome by the COUNTY . <br /> The SCHOOL DISTRICT agrees to provide the COUNTY with any existing legal descriptions or <br /> surveys upon request by the COUNTY. A sketch of the property to be conveyed is attached to this <br /> agreement as Exhibit B and incorporated by reference here in. <br /> 3 . Expansion of Retention Pond. Should the SCHOOL DISTRICT decide to expand or relocate <br /> the retention pond due to improvement of their property, the SCHOOL DISTRICT shall design a <br /> combined retention pond that meets the stormwater needs of both The SCHOOL DISTRICT and the <br /> COUNTY. The combined pond shall be designed to have no adverse impacts on the Oslo Road <br /> drainage. The COUNTY shall have the right to review and approve of the design of any pond <br /> expansion. Any expansion or relocation of the retention pond shall be at the SCHOOL DISTRICT ' S <br /> sole expense. <br /> 4 , Temporary Construction Easement While the COUNTY is obtaining the appraisal and <br /> preparing the necessary documents for closing on the properties and so that the County can continue <br /> 2 <br />