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w <br /> AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement' ) is made <br /> and entered into as of the qday of -(/nics , 200 3, by and between Indian River <br /> County, a political subdivision of the State of Florida (" County"), and Park Lane Estates, Inc., <br /> (" Seller") , who agree as follows : <br /> 1 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County, and the <br /> County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this <br /> Agreement, that certain parcel of real property located at 58th Avenue, County of Indian River, State <br /> of Florida and more specifically described on Exhibit "A, " containing approximately . 74 acre, and <br /> all improvements thereon, together with all easements , rights and uses now or hereafter belonging <br /> thereto (collectively, the "Property") . 7� 7 a 5; <br /> TZE-, /-1 ?71/ S C01/ S .9n/ V"l '0Y (I 2 Lf� I=/ d�-r <J D « /9 Ls/07- /�J-p " <br /> 2 . Purchase Price , Effective Date . The purchase price (the "Purchase Price") for the Property <br /> shall be . The <br /> Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement shall be the <br /> date upon which the County shall have approved the execution of this Agreement, either by approval <br /> by the Indian River County Board of County Commissioners at a formal meeting of such Board or by <br /> the County Administrator pursuant to his delegated authority. <br /> 3 . Title . Seller shall convey marketable title to the Property by warranty deed free of claims, <br /> liens, easements and encumbrances of record or known to Seller; but subject to propertytaxes for the <br /> year of Closing and covenants , restrictions and public utility easements of record provided (a) there <br /> exists at Closing no violation of any of the foregoing; and (b) none of the foregoing prevents <br /> County's intended use and development of the Property. <br /> 3 .2 County may order an Ownership and Encumbrance Report with respect to the Property. <br /> County shall, within thirty (3 0) days from either, receipt of the Ownership and Encumbrance Report, <br /> or execution of this contract by all parties (whichever occurs last) deliver written notice to Seller of <br /> title defects . Title shall be deemed acceptable to County if (a) County fails to deliver notice of <br /> defects within the time specified, or (b) County delivers notice and Seller cures the defects within <br /> thirty (30) days from receipt of notice from County of title defects ("Curative Period") . Seller shall <br /> use best efforts to cure the defects within the Curative Period and if the title defects are not cured <br /> within the Curative Period, County shall have thirty (30) days from the end of the Curative Period to <br /> elect, by written notice to Seller, to : (i) to terminate this Agreement, whereupon shall be of no further <br /> force and effect, or (ii) extend the Curative Period for up to an additional 90 days ; or (iii) accept title <br /> 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 is the sole <br /> owner of and has good right, title and authority to convey and transfer the Property which is the <br /> subject matter of this Agreement, free and clear of all liens and encumbrances . <br /> 4 .2 From and after the Effective Date of this Agreement, Seller shall take no action which would <br /> Standard Agreement — Indian River County & Park Lane Estates, Inc. 1 <br />