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THIS DOCUMENT HAS BEEN
THIS INSTRUMENT PREPARED BY : RECORDED IN THE PUBLIC RECORDS
Larry B . Alexander , Esquire OF INDIAN RIVER COUNTY FLBK: 2326 PG : 274 , Pagel of 5
Jones , Foster , Johnston & Stubbs , P . A . 03% 10%2009 at 03 43 PM , DOC STAMPS D
505 South Flagler Drive , Suite 1100 s0 70
West Palm Beach , FL 33401 JEFFREY K BARTON CLERK OF COURT
TERMINATION AND RELEASE OF OPTIONS TO PURCHASE REAL PROPERTY
THIS TERMINATION AND RELEASE OF OPTIONS TO PURCHASE REAL
PROPERTY is made as of the date set forth below by and between THE COUNTY OF
INDIAN RIVER , FLORIDA , by and through its County Commission ( " IRC " ) whose
address is 1801 27th Street , Vero Beach , FL 32960 and QUAIL VALLEY CLUB , LLC
( " Club " ) , whose address is 2345 Highway AIA , Vero Beach , FL 32963 .
WHEREAS , the Club granted unto IRC an option to purchase certain real
property which was proposed to be used for the construction of an extension to 61 "
Street in Indian River County , Florida as more particularly described on Exhibit A
attached hereto (the " 61St Street Property" ) pursuant to an Option to Purchase Real
Property dated January 2 , 2001 and recorded in Official Record Book 1376 , Page 1981 ,
Public Records of Indian River County , Florida (the 61St Street Option Agreement " ) ; and
WHEREAS , Quail Valley Club , LLC granted unto IRC an option to purchase
certain real property which was proposed to be used for the construction of an
extension to 65th Street in Indian River County , Florida as more particularly described
on Exhibit B attached hereto (the " 65th Street Property " ) pursuant to an Option to
Purchase Real Property dated January 2 , 2001 and recorded in Official Record Book
1376 , Page 1989 , Public Records of Indian River County , Florida (the 65th Street Option
Agreement " ) ; and
WHEREAS , the 61St Street Property and the 65th Street Property are no longer
within IRC ' s Extended Roadway Grid Map as provided in IRC ' s Comprehensive Plan ;
and
WHEREAS , Club has requested that IRC release the 61St Street Property and the
65th Street Property , respectively from the terms and provisions of the 61St Street Option
Agreement and the 65th Street Option Agreement and that the 61St Street Option
Agreement and the 65th Street Option Agreement be terminated and IRC has agreed to
do so .
NOW THEREFORE , IRC , for Ten and No/ 100 Dollars ( $ 10 . 00 ) and other
good and valuable consideration , the receipt and sufficiency of which is hereby
acknowledged , IRC and Club agree that IRC hereby releases the 61St Street Property
and the 65th Street Property from the terms and provisions of the 61St Street Option
Agreement and the 65th Street Option Agreement , respectively and further agree that
the 61St Street Option Agreement and the 65th Street Option Agreement are hereby
terminated and shall be of no further force and effect as of the date set forth below .
P
IN WITNESS WHEREOF , The Club '`ean ` , l'RC "_ ')-Dave each executed this
Termination and Release of Options to Purcli6Ite Rei Propegy ; Lo be effective as of the
date approved by the Indian River Count 03Mmisslon ps set `forth below .
COUNTY OFr I .4D,IAN RIVER , FLORIDA
BYA € Dc- THR1 0,016H THE INDIAN
RIVERJO' JN'TY COMMISSION
B : 5e lIi
Printed Name : Wesley S . Davis
Title : Chairman
APPROVED AS TO FORM
AND LEGAL SUFFICIENCY BCC Approved : March 3 , 2009
BY (14� lam".`-- -w Attest :
WILLIAM G . COLLINS It
COUNTY ATTORNEY
By Clerk of the Board
WITNESSES : QUAIL VALLEY CLUB , LLC
By : Pinnacle Golf, LLC , its
Managing Member
Ile
10
Bi Lly .
Pri t Na e :It w . S 'phen W . Mulvey
Its : Managing Member
Print Name : , ? h
STATE OF FLORIDA
COUNTY OF INDIAN RIVER
The foregoing instrument was acknowledged before me this day of
Te , 2009 , by Stephen W . Mulvey , Jr . , as Managing Member of Pinnacle Golf,
LLC , a FI rids limited liability company , the Managing Member of Quail Valley Club ,
LLC , a Florida limited liability company , on behalf of the company , [ ] who is personally
known to me or 4 has produced a driver' s license as identification .
w lI r a
( NOTARY SEAL ) Notary Pu lic
NANCY H . MOSSALI Print Name : �. C , , H - ► r 4d - � �
\ Commission DD 637366 My commission expiret:
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EXHIBIT " A "
61 ST STREET
The South 75 . 00 Feet of the East Half of
Section 12 , Township 32 South , Range 38
Indian River County , Florida , less however , the
East 200 . 00 Feet thereof; and
The North 25 . 00 Feet of the east Half of
Section 13 , Township 32 South , Range 38
East , Indian River County , Florida , less
however the East 200 . 00 Feet thereof.
EXHIBIT " B "
65th STREET
A parcel of land lying equally 75 feet to either side of the following described line
through the following described property :
The South line of the Northeast Quarter of
Section 12 , Township 32 South , Range 38
East , Indian River County , Florida .
Less However , the East 200 . 00 Feet thereof.