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7 , <br /> 2 . Agreement to Purchase and Sell The Seller hereby agrees to sell to the County , <br /> and the County hereby agrees to purchase from Seller, upon the terms and <br /> conditions set forth in this Agreement , that certain parcel of real property located at , <br /> 4310 20th Avenue Vero Beach , Florida 32966 and more specifically described in the <br /> sketch and legal description attached as Exhibit "A" , containing approximately 0 . 23 <br /> acres , and all improvements thereon , together with all easements , rights and uses <br /> now or hereafter belonging thereto (collectively , the " Property" ) , <br /> 2 . 1 Purchase Price , Effective Date The terms of this Agreement are set forth in the <br /> document attached hereto as Exhibit B . The purchase price ( " Purchase Price " ) for <br /> the Property shall be one million six hundred fifty thousand dollars ($ 1 , 650 , 000 . 00 ) <br /> The Purchase Price shall be paid on the Closing Date . The Indian River Board of <br /> County Commissioners approved the terms of this Agreement as set forth on the <br /> attached Exhibit B on September 16 , 2008 , during a regular meeting of the <br /> Commission . <br /> The Effective Date of this Agreement shall be the date upon which the County <br /> executes this Agreement . <br /> 3 . Title . Seller shall convey marketable title to the Property by warranty deed free of <br /> claims , liens , easements and encumbrances of record or known to Seller; but <br /> subject to property taxes for the year of Closing and covenants , restrictions and <br /> public utility easements of record provided ( a ) there exists at Closing no violation of <br /> any of the foregoing ; and ( b ) none of the foregoing prevents County' s intended use <br /> and development of the Property ( " Permitted Exceptions " ) . <br /> 3 . 1 County shall order a Title Insurance Commitment and Policy with respect to the <br /> Property from Dominion Title Company as agent for Chicago Title Insurance <br /> Company in the amount of the purchase price . County shall within fifteen ( 15 ) days <br /> following the Effective Date of this Agreement deliver written notice to Seller of title <br /> defects . Title shall be deemed acceptable to County if: <br /> (a ) County fails to deliver notice of defects within the time specified , or <br /> ( b ) County delivers notice and Seller cure the defects within thirty (30 ) <br /> days from receipt of notice from County of title defects ( " Curative <br /> Period " ) . <br /> Seller shall use their best efforts to cure the defects within the Curative Period and if <br /> the title defects are not cured within the Curative Period , County shall have thirty <br /> (30 ) days from the end of the Curative Period to elect , by written notice to Seller, to : <br /> ( i ) to terminate this Agreement , whereupon shall be of no further force <br /> and effect , or <br /> ( ii ) extend the Curative Period for up to an additional 90 days ; or <br /> ( iii ) accept title subject to existing defects and proceed to closing . <br /> 4 . Representations of the Seller. <br /> 2 <br />