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AGREEMENT TO PURCHASE, SELL, AND LEASE REAL ESTATE BETWEEN MICHAEL A. AND SHARON D. LOUDERMILK Husband and Wife THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement') is made and entered into as of the 3rd day of June , 20083 by and between Indian River County, a political subdivision of the State of Florida ("the County"), and Michael A. and Sharon D. Loudermilk, ("Sellers"), who agree as follows: WHEREAS, Michael A. and Sharon D. Loudermilk own property located at 6875/6885 66th Avenue Vero Beach, Florida, attached to this agreement as Exhibit "A" and incorporated by reference herein; and WHEREAS, the County, is scheduled to expand 66th Avenue in the future and the road expansion will impact and affect the Loudermilks 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 66th Avenue; and WHEREAS, the County has contacted the Loudermilks and has offered to purchase an approximately 2.47 acre parcel of property from the Loudermilks be used as right-of- way; and WHEREAS, the County is prepared to take the Property by using its power of eminent domain: and WHEREAS, the Loudermilks the County wish to avoid the risk, time and expense of litigation by entering into this agreement for sale and purchase of the Property; NOW, THEREFORE, in consideration of the mutual terms, conditions, promises, covenants and premises hereinafter, the COUNTY and SELLER agree as follows: 1. Recitals. The above recitals are affirmed as being true and correct and are incorporated herein 2. Agreement to Purchase and Sell. The Seller hereby agrees to sell to the County, and the County hereby agrees to purchase from Seller, upon the terms and conditions set 1