3/4/2016 11:58:12 AM
10/1/2015 3:23:55 AM
Official Document Type
Agenda Item Number
Right of Way Acquisition 85th St. road expansion
5895 85th St.
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ORIGINAL <br /> 2 . 1 Purchase Price , Effective Date . The purchase price ( " Purchase Price " ) for the <br /> Property shall be $ 103 , 500 ( One Hundred Three Thousand Five Hundred Dollars ) . The <br /> Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement <br /> shall be the date upon which the County shall have approved the execution of this <br /> Agreement , either by approval by the Indian River County Board of County Commissioners <br /> at a formal meeting of such Board or by the County Administrator pursuant to his delegated <br /> authority . <br /> 3 . Title . Seller shall convey marketable title to the Property by warranty deed free of <br /> claims , liens , easements and encumbrances of record or known to Seller ; but subject to <br /> property taxes for the year of Closing and covenants , restrictions and public utility <br /> easements of record provided ( a ) there exists at Closing no violation of any of the <br /> foregoing ; and ( b ) none of the foregoing prevents County' s intended use and development <br /> 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 <br /> the Effective Date of this Agreement deliver written notice to Seller of title defects . Title <br /> shall be deemed acceptable to County if ( a ) County fails to deliver notice of defects within <br /> the time specified , or ( b ) County delivers notice and Seller cures the defects within thirty <br /> ( 30 ) days from receipt of notice from County of title defects (" Curative Period ") . Seller shall <br /> use best efforts to cure the defects within the Curative Period and if the title defects are not <br /> cured within the Curative Period , County shall have thirty ( 30 ) days from the end of the <br /> Curative Period to elect , by written notice to Seller , to : ( i ) to terminate this Agreement , <br /> whereupon shall be of no further force and effect , or ( ii ) extend the Curative Period for up <br /> to an additional 90 days ; or ( iii ) accept title subject to existing defects and proceed to <br /> closing . <br /> 4 . Representations of the Seller . <br /> 4 . 1 Seller is indefeasibly seized of marketable , fee simple title to the Property , and is the <br /> sole owner of and has good right , title , and authority to convey and transfer the Property <br /> which is the subject matter of this Agreement , free and clear of all liens and <br /> encumbrances . <br /> 4 . 2 From and after the Effective Date of this Agreement , Seller shall take no action <br /> which would impair or otherwise affect title to any portion of the Property , and shall record <br /> no documents in the Public Records which would affect title to the Property , without the <br /> prior written consent of the County . <br /> 4 . 3 There are no existing or pending special as .. . ssments affecting the Property , which <br /> are or may be assessed by any governmental authority , water or sewer authority , school <br /> district , drainage district or any other special taxing district . <br /> 2 <br />
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