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Beach , Florida and more specifically described in the sketch and legal description attached as Exhibit "A" , containing approximately 0 . 126 acre , and all improvements thereon , together with all easements , rights and uses now or hereafter belonging thereto ( collectively , the " Property" ) . 3 . Purchase Price , Effective Date . The Purchase Price ( " Purchase Price " ) of $ 33 , 958 ( $ 111958 [0 . 126 acre parcel of land ] + $ 22 , 000 [ improvements and damages/cost4o -cure value of fencing , trees and landscaping as established by a limited scope appraisal prepared by All Real Estate Appraisals] _ $ 33 , 958 ) 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 . 4 . Title . Sellers shall convey marketable title to the Property by warranty deed free of claims , liens , easements and encumbrances of record or known to Sellers except as noted in Exhibit "A" ; 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 the County' s intended use and development of the Property ( " Permitted Exceptions " ) . 4 . 1 The County may order an Ownership and Encumbrance Report or Title Insurance Commitment with respect to the Property . The County shall within fifteen ( 15 ) days following the Effective Date of this Agreement deliver written notice to Sellers of title defects . Title shall be deemed acceptable to the County if ( a ) the County fails to deliver notice of defects within the time specified , or ( b ) the County delivers notice and Sellers cure the defects within thirty ( 30 ) days from receipt of notice from the County of title defects ( " Curative Period " ) . Sellers shall use their best efforts to cure the defects within the Curative Period and if the title defects are not cured within the Curative Period , the County shall have thirty ( 30 ) days from the end of the Curative Period to elect , by written notice to Sellers , 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 ninety ( 90 ) days ; or ( iii ) accept title subject to existing defects and proceed to closing . 5 . Representations of the Sellers . 5 . 1 Sellers are indefeasibly seized of marketable , fee simple title to the Property , and are the sole owners of and have good right , title , and authority to convey and transfer the Property which is the subject matter of this Agreement , free and clear of all liens and encumbrances . 5 . 2 From and after the Effective Date of this Agreement , Sellers shall take no action which would impair or otherwise affect title to any portion of the Property , and shall record no documents in the Public Records which would affect title to the Property , without the prior written consent of the County . Page 2 of 7