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1935 43rd Avenue Vero Beach , Florida 32960 and more specifically described in <br /> the sketch and legal description attached as Exhibit "A" , containing approximately <br /> 0 . 47 acres , and all improvements thereon , together with all easements , rights and <br /> uses now or hereafter belonging thereto (collectively, the " Property" ) . <br /> 2 . 1 Purchase Price , Effective Date . The purchase price (" Purchase Price") for the <br /> Property shall be one million one hundred thirty five thousand dollars <br /> ($ 1 , 135 , 000 . 00 ) The Purchase Price shall be paid on the Closing Date , The <br /> Effective Date of this Agreement shall be the date upon which the Indian River <br /> County Board of County Commissioners shall have approved the execution of this <br /> Agreement . The Indian River Board of County Commissioners must approve the <br /> terms of this Agreement as set forth in this agreement, during a regular meeting of <br /> the Commission . <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 in the amount of the appraised value of $950 ,000 . County shall within <br /> fifteen ( 15) days following the Effective Date of this Agreement deliver written notice <br /> to Seller of title 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 /> 4 . 1 Seller is indefeasibly seized of marketable , fee simple title to the Property , and are <br /> the sole owners of and have good right, title , and authority to convey and transfer <br /> the Property which is the subject matter of this Agreement , free and clear of all liens <br /> and encumbrances . <br /> 4 . 2 From and after the Effective Date of this Agreement , Seller shall take no action <br /> which would impair or otherwise affect title to any portion of the Property, and shall <br /> 2 <br />