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To First Party: Lucille V. Costa and George A. Costa
8S4 River Road
New Mllford, New Jersey 07646
Copy to: Scott M. Kenney, Esquire
Sl S South Indian River Drive
Fort Pierce, Florida 33450
To Second Party: The Sands Ocean View Development
A Florida Partnership
S00 NW 16S Street Road
Miami, Florida 33169
Copy toz CoDevCo South Florida Properties
A Florida Partnership
S79 West North Avenue
Elmhurst, Illinois 60126
Attention: Wayne Johnson
6. In order to clear any possible cloud on the title of any of the Parcels
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hereunder as to compliance with this Right of First Refusal, the parties expressly
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agree that, upon the filing of an Affidavit in the Public Records of St. Lucie
County, Florida, by First Party, describing the Parcel that was the subject of the E
Sale Offer, covenanting that the terms, provisions and conditions of this Right of
First Refusal have been complied with and that Second Party has not exercised its -
right hereunder, and that the deed conveying title to the- Parcel that was the
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subject of the Sale Offer has been recorded, together with a copy evidencing the
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return receipt substantiating delivery of the Offering Notice, then all third persons,
the public and any other persons, firms or corporations who may or in the future
acquire an interest in the Parcel that was the subject of the Sale Offer shall be
entitled to rely upon said Affidavit as true and correct and shall not be required to
independently inquire of Second Party as to compliance with this Right of First
Refusal of First Party.
7. This Right of First Refusal is personal as to the Second Party and
may only be assigned or inure to the benefit of an entity in which the principal of s
the Second Party, Octavio Buigas, his spouse or lineal descendants, has at least a i
25% interest therein, either legal or beneficial, and, in the event the interest of the '
aforesaid Octavio Buigas, his spouse or lineal descendants in or to the Second Party
ever becomes less than 2S%, whether legal or beneficial, then this Right of First
Refusal shall automatically terminate without legal notice or proceedings, and shall
not be reinstated or cured without the specific written consent of First Party. ~
8. This Agreement shall be binding upon the parties, their legal
representatives, successors and assigns.
IN WITNESS WHEREOF, the parties hereto have hereunto set their hands
and seals on the day and year first above written.
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