COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2018

COMMITMENTS AND CONTINGENCIES

Schedule of potential land sales transactions

		No. of Acres	Amount		Price		Estimated
	Transaction (Buyer)	(Rounded)	($000's)		per Acre		Timing
1	Commercial/Retail - O'Connor - East of I-95 (1)	203	$	45,252	$	223,000	'19
2	Residential (AR) - Minto Communities - West of I-95	1,614		26,500		16,000	Q4 '18
3	Residential (SF) - ICI Homes - West of I-95	1,016		21,000		21,000	'19
4	Mixed-Use Retail - North American - East of I-95 (2)	35		14,362		409,000	Q4 '18
5	Commercial/Residential - Unicorp - East of I-95	101		9,500		94,000	'19 - '20
6	Commercial/Medical Office - East of I-95	32		8,089		253,000	'19 - '20
7	Residential (MF) - East of I-95 (3)	45		5,200		116,000	Q4 '18 & '20
8	Residential (MF) - East of I-95	20		4,250		213,000	Q4 '18
9	Residential (MF) - East of I-95	20		4,000		200,000	'19 - '20
10	Commercial/Retail - Unicorp - East of I-95	14		3,800		271,000	'19 - '20
11	Commercial/Distribution - VanTrust - East of I-95	26		3,215		124,000	'18 - '19
12	Residential (SF) - West of I-95 (4)	200		3,175		16,000	Q4 '18 & '20
13	Commercial/Retail - East of I-95	9		2,900		322,000	Q4 '18 - '19
14	Residential (SF) - ICI Homes - West of I-95	146		1,400		10,000	'19
15	Commercial/Medical Office - East of I-95	4		935		234,000	Q4 '18
16	Residential (SF) - East of I-95	18		570		32,000	'19 - '20
	Total (Average)	3,503	$	154,148	$	44,000

(1)Land sales transaction which requires the Company to incur the cost to provide the requisite mitigation credits necessary for obtaining the applicable regulatory permits for the buyer, with such costs representing either our basis in the credits that we own, or potentially up to 5% - 10% of the contract amount noted.

(2)Pursuant to the contract, amount includes the reimbursement of infrastructure costs incurred by the Company for Tomoka Town Center plus interest accrued as of December 31, 2017.

(3)The acres and amount include the buyer’s option to acquire approximately 19 acres for $2.0 million, in addition to the base contract of approximately 26 acres for $3.2 million.

(4)The acres and amount include the buyer’s option to acquire approximately 71 acres for $925,000, in addition to the base contract of approximately 129 acres for $2.25 million.