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REAL ESTATE EXCHANGE AGREEMENT
Between
INDIAN RIVER COUNTY AND THOMAS R. AND DIANE W. NASON
This Agreement entered into this %40, day of January, 2008 between Indian River County, a
political subdivision of the State of Florida ("the County") 1801 27th Street, Vero Beach, Florida
32960; and Thomas R. and Diane W. Nason, husband and wife, 735 Bahia Mar Road, Vero
Beach, Florida 32963 (" the Nasons' or Nasons").
WHEREAS, the County plans drainage and sidewalk improvements to 16th Street east
of U.S. Highway 1, that will require the utilization of part of the Nason's property located on 16`h
Street Vero Beach, Florida; and
WHEREAS, the County owns a parcel of land adjacent to the Nasons on the Nasons'
northern boundary; and
WHEREAS, the County and the Nasons hereby agree to an exchange of portions of their
respective properties as follows:
A. The County agrees to convey a portion of its property (identified on Exhibit "A",
attached) containing 1,586 square feet to the Nasons, and in exchange
B. The Nasons agree to convey a portion of their property (identified on Exhibit "B",
attached) containing 850 square feet to the County; and
C. The Nasons agree to convey to the County an easement for sidewalk and utilities
(identified on Exhibit "C", attached)
WHEREAS, each party is indivisibly seized of their respective parcel of property and
shall convey marketable title to their respective parcel by warranty deed free of claims, liens,
easements, and encumbrances, but subject to property taxes for the year of closing; and
WHEREAS, this Exchange Agreement is subject to final approval by the Indian River
County Board of County Commissioners through the adoption of a Resolution. Such an
exchange is allowed under Section 125.37, Florida Statutes. Notice is required to be published
once a week for two weeks before consideration by the Board.
NOW THEREFORE, in consideration of the mutual terms, conditions, promises and
covenants hereinafter, the Nasons and the County agree as follows:
1. The above recitals are true and correct and incorporated by reference into this agreement.
2. The County agrees to convey to the Nasons a portion of land lying immediately north of the
Nasons' property, consisting of 1,586 square feet (0.036 acres) as depicted on Exhibit A
attached.
3. At the same time, the Nasons agree to convey to the County the southern -most portion of their
property consisting of 850 square feet (0.020 acres) as depicted on Exhibit B attached. The
Nasons will also convey to the County an easement for sidewalk and utilities as depicted on
Exhibit C attached.
4. Each party shallconvey marketable
title to their
respective parcels
by
warranty deed free of
claims, liens, easements, encumbrances
and property
taxes prorated for
the
year of closing.
5. County shall be responsible for preparation of all Closing documents.
6. County shall pay the following expenses at Closing:
a. The cost of recording the warranty deed and any release or satisfaction obtained by Seller
pursuant to this Agreement.
7. The Nasons shall pay the following expenses at or prior to Closing:
a. All costs necessary to cure title defect(s) or encumbrances, other than the permitted
exceptions
b. Outstanding taxes, if any
c. Any costs necessary to satisfy or release of record all existing mortgages, liens or
encumbrances upon the Property.
8. In the event a dispute arises over this agreement, the Nasons and the County shall each pay
their own attorneys' fees and costs.
9. This Agreement constitutes the entire agreement between the parties with respect to this
transaction and supersedes all prior agreements, written or oral.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first set
forth above.
9
Thomas R. Nason
Date Signed: aar�
Cd FC �P1 11C4
Diane W. Nason
Date Signed: ( — '? — CS
Approve a (%to for id le su ici y:
By
Wi liam K. DeBraal
Deputy County Attorney
Indian River County Board of County
Commissioners
4L-
S wden, Chair s
De Signed:
� n
Attest: 1� rton Glerjz'
By:
Deputy Clerk
Approved: \1 S \ v -:Z
U oseph . Baird, County Administrator
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