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R I <br /> AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br /> THIS AGREEMENT TO PURCHASE AND SELF, REAL ESTATE ("Agreement") is made <br /> and entered into as of the 9th day of SePtember 2008 by and between PPDC <br /> INVESTMENTS , LLC , A Florida limited liability company, whose address is 148 Vista Royal <br /> Square, Vero Beach, FL 32962 (" Sellers") and Indian River County, a political subdivision of the <br /> State of Florida (" County") , who agree as follows : <br /> 1 . Aareement 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 1875 43rd Avenue, Vero Beach, County of <br /> Indian River, State of Florida and more specifically described in Exhibit "A, " containing <br /> approximately 2 , 134 square feet or 0 . 049 acre, more or less, and all improvements thereon, together <br /> with all easements, rights and uses now or hereafter belonging thereto (collectively, the "Property") . <br /> 2 . Purchase Price , Effective Date . The purchase price (the "Purchase Price") for the Property <br /> shall be Eighteen Thousand Seven Hundred Thirty Five Dollars & 00/ 100 ($ 18 , 735 . 00) . 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 property taxes 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 receipt of the Ownership and Encumbrance Report, deliver <br /> written notice to Seller of title defects . Title shall be deemed acceptable to County if (a) County fails <br /> to deliver notice of defects within the time specified, or (b) County delivers notice and Seller cures <br /> the defects within thirty (30) days from receipt of notice from County of title defects ("Curative <br /> Period") . Seller shall use best efforts to cure the defects within the Curative Period and if the title <br /> defects are not cured within the Curative Period, County shall have thirty (30) days from the end of <br /> the Curative Period to elect, by written notice to Seller, to : (i) to terminate this Agreement, <br /> whereupon shall be of no further force and effect, or (ii) extend the Curative Period for up to an <br /> additional 90 days ; or (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 is the sole <br /> owner of and has good right, title and authority to convey and transfer the Property which is <br /> the 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 /> impair or otherwise affect title to any portion of the Property, and shall record no documents <br /> in the Public Records which would affect title to the Property, without the prior written <br /> consent of the County. <br /> F :\Engineering\Rober-tWeW43rd ave . capital\43rd Ave\43rd Aye_Land Acquisition\Parcel 119_Thompson Charles Band <br /> DoraTurchase Agreement. ppdcinvestments119. doc <br />