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z! _ ZLA 0 �J t l T Z AGREEMENT TO PURCHASE AND SELL REAL ESTATE THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ( " Agreement " ) is made and entered into as of the 24thday of May , 200 5 , by and between Indian River County , a political subdivision of the State of Florida ( " County" ) , and W . C . Graves , III , a / k/ a William C . Graves , III and Frances E . Graves , his wife ( collectively , " 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 on the North side of 4th Street , approximately 700 feet East of 58th Avenue , County of Indian River, State of Florida and more specifically described on Exhibit "A " , attached hereto and incorporated by this reference , containing approximately 11 , 370 square feet ( . 26 acre ) , 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 shall beTwenty Two Thousand Seven Hundred Forty DollarsThe Purchase Price shall be paid on the Closing Date . The Effective udtc 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 ueiiver 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 closil-19 . 4 . Representations of the Seller . 4 . 1 Seller is indefeasibly seized of marketable , fee simple title to the Property , and is the sole owner of and has good right , title , and authority to convey and transfer the Property which is the F :\Public Works\Capita.) Projects\Misc . AEreements\Graves@4thStRevised I - 1 8 -05 . doc 1 22 740 . 00 RETa wlv 70 x, rf <-OuAlh; ''