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Commercial Contract 1. PARTIES AND PROPERTY: 2 agrees to buy and Indian River County (A and Annette J Maffett (80%) and 3 agrees to sell the property at: Ili,( ffi Florida Realtors- India oci aRealtors- Snagg�zrnzzi>Catza�L=+� ("Seller") iTHINK Financial Credit Union as successor of Oculina Bank (20%) q) 4 Street Address: East End of 45th Street at Gifford Dock Road, Vero Beach, Indian River Countv, Florida 32967 5 6 Legal Description: Approximately +/- 15.47 ACRES OF LAND. Consisting of parcel number: 7 32392400000003000001.0, 32392400000003000001.1, 32392400000003000001.2 8 and the following Personal Property: 9 10 (all collectively referred to as the "Property") on the terms and conditions set forth below. 11 2. PURCHASE PRICE: $ 1,640,000.00 12 (a) Deposit held in escrow by: N/A $ 13 ("Escrow Agent") (checks are subject to actual and final collection) 14 Escrow Agent's address: Phone: 15 (b) Additional deposit to be made to Escrow Agent 16 ❑ within days (3 days, if left blank) after completion of Due Diligence Period or 17 ❑ within days after Effective Date $ 18 (c) Additional deposit to be made to Escrow Agent 19 ❑ within days (3 days, if left blank) after completion of Due Diligence Period or 20 ❑ within days after Effective Date $ 21 (d) Total financing (see Paragraph 5) $ 22 (e) Other $ 23 (f) All deposits will be credited to the purchase price at closing. 24 Balance to close, subject to adjustments and prorations, to be paid 25 via wire transfer. $ 1,640,000.00 26 For the purposes of this paragraph, "completion" means the end of the Due Diligence Period or upon delivery of 27 Buyer's written notice of acceptability. 28 3. TIME FOR ACCEPTANCE; EFFECTIVE DATE; COMPUTATION OF TIME: Unless this offer is signed by Seller 29 and Buyer and an executed copy delivered to all parties on or before , this offer 30 will be withdrawn and the Buyer's deposit, if any, will be returned. The time for acceptance of any counter offer will be 31 3 days from the date the counter offer is delivered. The "Effective Date" of this Contract is the date on which the 32 last one of the Seller and Buyer has signed or initialed and delivered this offer or the final counter offer or 33 . Calendar days, based on where the Property is located, will be used when 34 computing all time periods. Other than time for acceptance and Effective Date as set forth above, any time periods 35 provided for or dates specified in this Contract, whether preprinted, handwritten, typewritten or inserted herein, ending 36 or occurring on a Saturday, Sunday, national legal holiday, or a day on which a national legal holiday is observed will 37 extend to the next calendar day which is not a Saturday, Sunday, national legal holiday, or a day on which a national 38 legal holiday is observed. Time is of the essence in this Contract. 39 4. CLOSING DATE AND LOCATIOr)A11 : Buyer ( and Seller (acknowledge receipt of a copy of this page, which is Page 1 of 8 Pages.cc-6 Rev. 3125 02025 Florida Realtore Sedal#: 002753-000175-9774625 '.' Form Simplicity