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AGREEMENT TO PURCHASE AND SELL REAL ESTATE , e7 THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made and entered into as of the 16th day of August , 2007, by and between Indian River County , a political subdivision of the State of Florida (" County") , and Samuel A. Block, Trustee of Land Trust Number 00- 740-00- 1 dated August 3, 1992 ("Sellers") , 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 at 74th Street, Vero Beach County of Indian River , State of Florida and more specifically described on Exhibit "A" attached hereto and incorporated by this reference containing approximately 165, 613. 5 square fee ( See Exhibit and all improvements thereon , together with all easements , rights and uses now or hereafter belonging thereto (collectively , the " Property") . 2 . Purchase Price , Effective Date . The purchase price (the " Purchase Price") for the property and agreed upon value of the improvements to be taken into consideration shall be Two-Hundred-Eighty- Thousand- Three-Hundred-Fifteen and 00/00 Dollars ($280,315. 00). 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 . 3 . Title . 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 County may order an Ownership and Encumbrance Report or Title Insurance Commitment with respect to the Property. County shall within fifteen ( 15) days following the Effective Date of this Agreement 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 thirty (30) 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 . 4 . Representations of the Seller. 4 . 1 Seller is indefeasibly seized of marketable , fee simple title to the Property , and is the sole F:\Engineering\Robert Webb\74th ave 12th to 4th\SAIIBLOC K Purchase Contract081607amend doe - I -