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<br />Prepared by and return to: <br />Catherine D. Reischmann, Esq. <br />P.O. Box 4848 <br />Sanford, FL 32772-4848 <br /> <br />LAND SWAP AND CREDIT AGREEMENT <br />IiI1 <br />~ THIS LAND SWAP AND CREDIT AGREEMENT is made as of this ~1l day of <br />1M _ .2005, (the "Effective Date"), by and between the CITY OF CASSELBERRY, <br />a FI da municipal corporation, 95 Triplet Lake Dnve, Casselberry, FL 32707 (heremafter "CITY") <br />and C.F.E., LLC, a Florida limited liability company, 740 Florida Central Parkway, Ste. 2032, <br />Longwood, FL 32750, (hereinafter "CFE"). <br /> <br />WITNESSETH: <br /> <br />WHEREAS, the parties have agreed to transfer or swap certain parcels of real property to <br />each other to facilitate the extension of Winter Park Drive North and to construct a driveway <br />connection onto CFE's property; <br /> <br />WHEREAS, CFE agrees to convey to the CITY the property described in Exhibit "A" <br />attached hereto and made a part hereof; and <br /> <br />WHEREAS, the CITY agrees to credit to CFE a dollar amount equivalent to the value of the <br />property described in Exhibit "B" attached hereto and made a part hereof, on a square foot basis, as <br />credit toward CFE' s proposed purchase of a lot owned by the CITY to be platted at the intersection <br />of the realigned Belle Avenue connection and the North Winter Park Drive extension and shown <br />generally on Exhibit "C"; and <br /> <br />WHEREAS, the City has agreed to allow CFE to construct a driveway connection trom <br />Helen Street to the proposed development known as Casselberry Commerce Village, as depicted on <br />the drawing attached hereto as Exhibit "D." <br /> <br />NOW THEREFORE, in consideration of the mutual promises contained herein and for <br />other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, <br />the parties hereby agree as follows: <br /> <br />I. CFE agrees to transfer the property described on Exhibit "A" to the CITY by <br />quit-claim deed, after the City completes the tasks required by Section 2 of this Agreement. <br /> <br />2. The CITY agrees to credit to CFE a dollar amount equivalent to the value of the <br />property described on Exhibit "B" toward CFE' s proposed purchase of a lot owned by the CITY to <br />be platted at the intersection of the realigned Belle A venue connection and the North Winter Park <br /> <br />1 <br />