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~ AGREEM ENT
INDIAN .RIVER MINERALS, INC. , a Florida corporation, herein-
after called "Grantor," and CHRYSLER OUTBOARD CORPOR.ATION, a
Delaware corporation, hereitiafter called "Grantee," in coasideration of
• the payment by Graatee to Grantor of Ten Dollars and for other good and
valuable consideration, receipt of which is hereby acknowledged by
~ Grantor, agree:
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~ 1. Grantor has conveyed to Grantee by that certain Barge Channel
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' Agreement of even date with this instrument a strip of property 100 feet
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: ia width extending to the navigable channel of the Intracoastal 1hTaterway,
which strip is legally described as the North 100 feet of the South 375 feet
of the North 636. 6 feet of the East 213. 05 feet of the SE 1/4 of Section 8,
and the West 360 feet of the SVIT 1/4 of Section 9, all in Tov~raship 34 South,
Range 40 East, S~ Lucie Countyr~, Florida, hereinafter called "Barge
Chanael. "
2. If at any time Grantee deeme i.n ita own discretion that the
Barge Channel ia no longer suitable for the continued use of Grantee, then
Grantee may give Grantor notice of Grantee's iatention to proceed under
this paragraph. If no mutually agreeable solution has been worked out with-
in 30 days after the notice above described has been given, Grantee may
give a second notice to Grantor of Grantee~ a election to proceed under the
terms of thia provision:
(a) Grantee shall convey to Grantor the property
described as Parcel 2 in Exhibit A, and Grantor sha11
convey to Grantee the property described in Exhibit B,
together with all riparian rights appertaining thereto.
(b) If the exiating mortgage of record to Dorothy
McMillan has not been paid off, then Grantor~ s obliga-
tions under the provisions of this paragraph 2 are con-
tingent upon the property in Exhibit B's having beea re-
leased or Grantor's being able to obtain their release.
(c) Withia 60 days after the giving of such notice 4
of election to proceed from Graatee to Grantor, each i
party shall cause to be delivered to the other party a
ao~ ~.47 561
MlRfMON. fANYER, JOMNiTON, OUNM/ODV • COLE. 1000 FIRST NATIpNAL SANK SUILOIN1i, MIAMI, FLORIOA
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