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claims of easements, and (e) unrecorded mechanics' liens . Standard survey exceptions will only be deleted if a survey is obtained and certified to the issuer of the title insurance . 7 . DEFECTS IN TITLE . If the title insurance commitment or Survey furnished to Purchaser pursuant to this Agreement discloses any defects in title which are not acceptable to Purchaser, Seller shall, within 90 days after notice from Purchaser, remove said defects in title. Seller agrees to use diligent effort to correct the defects in title within the time provided therefore ; however Seller shall not be obligated to bring suit to cure said defects . If Seller is unsuccessful in removing the title defects within said time or if Seller fails to make a diligent effort to correct the title defects, Purchaser shall have the option to either: (a) accept the title as it then is with no reduction in the Total Purchase Price, (b) extend the amount of time that Seller has to cure the defects in title, or (c) terminate this Agreement, thereupon releasing Purchaser and Seller from all further obligations under this Agreement. 8 , INTEREST CONVEYED. At closing, Seller shall execute and deliver to Purchaser a statutory warranty deed in accordance with Section 689 . 02, Florida Statutes, conveying marketable title to the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies and other encumbrances, except for those that are acceptable encumbrances in the opinion of Purchaser and do not impair the marketability of the title to the Property, nor its management for the purposes of the County environmentally sensitive lands acquisition program. The grantee in Seller's Warranty Deed shall be Indian River County, a political subdivision of the State of Florida. 9 . PREPARATION OF CLOSING DOCUMENTS . Upon execution of this Agreement, Seller shall submit to Purchaser a properly completed and executed beneficial interest affidavit and disclosure statement as required by Sections 286 .23 , and 380 . 08 (2), Florida Statutes . Seller or his title agent shall prepare the deed described in paragraph 8 of this Agreement; Seller's and Purchaser= s closing statement; the title, possession and lien affidavit certified to Purchaser and title insurer in accordance with Section 627 . 7842 , Florida Statutes; and, an environmental affidavit on forms provided by the County. All prepared documents shall be submitted to the County for review and approval at least 30 days prior to the Option Expiration Date. 10 , PURCHASER REVIEW FOR CLOSING. Purchaser will approve or reject each item required to be provided by Seller under this Agreement within 15 days after receipt by Purchaser of all of the required items. Seller will have 15 days thereafter to cure and resubmit any rejected item to Purchaser. In the event Seller fails to timely deliver any item, or Purchaser rejects any item after delivery, Purchaser may in its discretion extend the Option Expiration Date accordingly. 1 l . EXPENSES . Seller will pay the documentary revenue stamp tax and all other taxes or costs associated with the conveyance, including the cost of recording the deed described in paragraph 8 of this Agreement and any other recordable instruments which Purchaser deems necessary to assure good and marketable title to the Property. 12 , TAXES AND ASSESSMENTS . All real estate taxes and assessments which are or which may become a lien against the Property shall be satisfied of record by Seller at closing. In the event the Local Government acquires fee title to the Property between January 1 and November 1 , Seller shall, in accordance with Section 196 . 295 , Florida Statutes, place in escrow with the county tax collector an amount equal to the current taxes prorated to the date of transfer, based upon the current assessment and millage rates on the Property, and reflecting the applicable discount for early payment. In the event the Local Government acquires 12 / 10 / 04 Page 3