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AGREEMENT TO PURCHASE AND SELL REAL ESTATE <br /> 4e ,;) 9 79 <br /> THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ("Agreement") is made <br /> and entered into as of the 5th day of January , 2007, by and between Indian River County, a <br /> political subdivision of the State of Florida ("County") , and <br /> The Capital Trust Company of Delaware,as Trustee of the Irvin Basil Keller <br /> Indfvidua/Retirement Trust Wald October 4, 2003 ("Sellers") , 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 parcels , (2) of real property located at 74th Street parcels 104 & 105, <br /> Vero Beach (see attached Exhibit "A " County of Indian River, State of Florida and more <br /> specifically described on Exhibit "A" attached hereto and incorporated by this reference <br /> containing approximately 67, 643.4 square feet, and all improvements thereon , together <br /> with all easements , rights and uses now or hereafter belonging thereto (collectively, the <br /> " Property") . <br /> 2 . Purchase Price , Effective Date . The purchase price (the "Purchase Price") for the <br /> properties , 2 parcels, shall be One-Hundred-Eight- Thousand Seven-Hundred-two and 00/00 <br /> Dollars ($108, 702. 00). The Purchase Price shall be paid on the Closing Date . The Effective <br /> Date of this Agreement shall be the date upon which the County shall have approved the <br /> execution of this Agreement, either by approval by the Indian River County Board of County <br /> Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his <br /> 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 <br /> for the year of Closing and covenants, restrictions and public utility easements of record provided <br /> (a) there exists at Closing no violation of any of the foregoing ; and (b) none of the foregoing <br /> prevents County's intended use and development of the Property (" Permitted Exceptions") . <br /> 3 . 1 County may order an Ownership and Encumbrance Report or Title Insurance <br /> Commitment with respect to the Property. County shall within fifteen ( 15) days following the <br /> Effective Date of this Agreement deliver written notice to Seller of title defects . Title shall be <br /> deemed acceptable to County if (a) County fails to deliver notice of defects within the time <br /> specified , or (b) County delivers notice and Seller cures the defects within thirty (30) days from <br /> receipt of notice from County of title defects ("Curative Period") . Seller shall use best efforts to <br /> cure the defects within the Curative Period and if the title defects are not cured within the <br /> Curative Period , County shall have thirty (30) days from the end of the Curative Period to elect, <br /> 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 <br /> title subject to existing defects and proceed to closing . <br /> 4 . Representations of the Seller. <br /> C:Oocuments and SettingslrwebbOesktop%Robert WeWso66thaveproject174th ave 12th to 4th\Capitaffrust74thave Purchase Contract.doc - 1 - <br />