Common use of Land Exchange Clause in Contracts

Land Exchange. In order for the Applicant to construct the Connector Road, it will be necessary for the Applicant and the City to exchange certain real property. The Applicant will exchange an approximately 21.89-acre parcel within the Property, as described in Exhibit “E” attached hereto and incorporated herein by this reference (the “Applicant Exchange Parcel”) and labeled “Land Swap” on the Conceptual Plan, with the City for the 100- foot-wide (minimum) right-of-way for the Connector Road within the City’s regional park site, which is approximately 21.3 acres, as described in Exhibit “F” attached hereto and incorporated herein by this reference (the “City Exchange Parcel”), which is depicted on the Conceptual Plan. The Applicant’s parcel has a value greater than the City parcel, as required in Rule 62- 818.016, Florida Administrative Code, which regulates such land exchanges. The Applicant has prepared all deeds, legal descriptions and sketches of description for the parcel exchange, at its expense. Once the Applicant and the City exchange the Applicant Exchange Parcel and the City Exchange Parcel, the legal description of the Property will be as set forth in Exhibit “A-2” attached hereto and incorporated herein by this reference.

Land Exchange. In order for the Applicant to construct the Connector Road, it will be necessary for the Applicant and the City to exchange certain real property. The Applicant will exchange an approximately 21.89-acre parcel within the Property, as described in Exhibit “E” attached hereto and incorporated herein by this reference (the “Applicant Exchange Parcel”) and labeled “Land Swap” on the Conceptual Plan, with the City for the 100- foot-wide (minimum) right-of-way for the Connector Road within abutting the City’s regional park site, which is approximately 21.3 acres, as described in Exhibit “F” attached hereto and incorporated herein by this reference (the “City Exchange Parcel”), which is depicted on the Conceptual Plan. The Applicant’s parcel has a value greater than the City parcel, as required in Rule 62- 818.016, Florida Administrative Code, which regulates such land exchanges. The Applicant has prepared all deeds, legal descriptions and sketches of description for the parcel exchange, at its expense. Once the Applicant and the City exchange the Applicant Exchange Parcel and the City Exchange Parcel, the legal description of the Property will be as set forth in Exhibit “A-2” attached hereto and incorporated herein by this reference.

Land Exchange. In order for the Applicant to construct the Connector Road, it will be necessary for the Applicant and the City to exchange certain real property. The Applicant will exchange an approximately 21.89-acre parcel within the Property, as described in Exhibit “E” attached hereto and incorporated herein by this reference (the “Applicant Exchange Parcel”) and labeled “Land Swap” on the Conceptual Plan, with the City for the 100- foot-wide (minimum) right-of-way for the Connector Road within withinabutting the City’s regional park site, which is approximately 21.3 acres, as described in Exhibit “F” attached hereto and incorporated herein by this reference (the “City Exchange Parcel”), which is depicted on the Conceptual Plan. The Applicant’s parcel has a value greater than the City parcel, as required in Rule 62- 62-818.016, Florida Administrative Code, which regulates such land exchanges. The Applicant has prepared all deeds, legal descriptions and sketches of description for the parcel exchange, at its expense. Once the Applicant and the City exchange the Applicant Exchange Parcel and the City Exchange Parcel, the legal description of the Property will be as set forth in Exhibit “A-2” attached hereto and incorporated herein by this reference.