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J ` v V AGREEMENT TO PURCHASE AND SELL REAL ESTATE � O o 7 ` L// 7 THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the _ day of November, 2007 , by and between Indian River County, a political subdivision of the State of Florida (" County') , and Michael T. Calvit, Trustee , 650 Azalea Lane, #B , Vero Beach FL 33963 ("Seller") , who agree as follows : 1 . Agreement to Purchase and Sell The Seller hereby agrees to sell to the County, and the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement, that certain parcel of real property located in Indian River County, State of Florida and more specifically described on Exhibit "A" attached hereto and incorporated by this reference , and any improvements thereon , together with all easements , rights and uses now or hereafter belonging thereto (collectively, the " Property") . The Tax ID number of the Property is 00-30-38-00001 -0220-00032 . 3 . 2 . Purchase Price , Effective Date The purchase price (the " Purchase Price ") for the Property shall be Thirty Eight Thousand Five Hundred Dollars ($ 38 , 500) . The Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement, either by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his delegated authority. The County shall have thirty (30) days to approve this Agreement from the date seller signs and delivers this Agreement to the County, failing which this Agreement shall be null and void . The County has paid the Seller at execution of this Agreement a deposit of $ 1 , 000 , which shall be credited to the County at closing . The deposit shall be returned to the County if this Agreement is not approved by the County as set forth in this paragraph , or upon default of the Seller. 3 . Title and Environmental Assessment Seller shall convey marketable title to the Property by warranty deed free of claims, liens, easements and encumbrances of record or known to Seller; but subject to property taxes for the year of Closing and covenants , restrictions and public utility easements of record provided (a) there exists at Closing no violation of any of the foregoing ; and (b) none of the foregoing prevents County's intended use and development of the Property ("Permitted Exceptions") . 3 . 1 The County shall no later than fifteen ( 15) days prior to closing obtain a Title Insurance Commitment with respect to the Property. County shall within fifteen ( 15) days following receipt of the Title Insurance Commitment to deliver written notice to Seller of title defects . Title shall be deemed acceptable to County if (a) County fails to deliver notice of defects within the time specified , or (b) County delivers notice and Seller cures the defects within forty five (45) days from receipt of notice from County of title defects (" Curative Period ") . Seller shall use best efforts to cure the defects within the Curative Period and if the title defects are not cured within the Curative Period , County shall have thirty (30) days from the end of the Curative Period to elect, by written notice to Seller, to : (i) to terminate this Agreement , whereupon shall be of no further force and effect, or ( ii) extend the Curative Period for up to an additional 90 days ; or ( iii) accept title subject to existing defects and proceed to closing . 1