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pay for such a commitment and title policy insuring title in the easement interest in BOT in Tract E; the insured amount
<br /> of this policy will be 70% of the product of the number of acres of Tract E times the average per acre value of Tract D
<br /> as set forth in Paragraph 2 . Windsor may obtain title insurance for Tracts A and B at its own expense. The title
<br /> insurance commitments to insure property interests in BOT shall provide that the standard exceptions will be deleted at
<br /> closing, including the exception for taxes due in the year of closing. Windsor represents that all billboards on any of the
<br /> tracts to be received by County of BOT shall be lawfully removed before closing.
<br /> 6. DEFECTS IN TITLE. Windsor shall, within ninety (90) days after notice from DSL, remove all defects in title
<br /> to Tracts D and E. Windsor agrees to use diligent effort to correct the defects in title within the time provided therefor,
<br /> not including the bringing of suits. If Windsor is unsuccessful in removing the title defects within said time, or if a
<br /> defect curable only by suit is unacceptable to BOT, then BOT shall have the option to either: (a) accept the title as it
<br /> then is with no reduction in the value of Tract D, (b) extend the amount of time within which Windsor may remove the
<br /> defects in title, or (c) terminate this Agreement, thereupon releasing the parties hereto from all further obligations under
<br /> this Agreement. If Windsor fails to make a diligent effort to remove the title defects, Windsor shall be in default and the
<br /> provisions of paragraph 16. of this Agreement shall apply. Windsor shall, within ninety (90) days after notice from
<br /> County, remove all defects in title to Tract C. Windsor agrees to use diligent effort to correct the defects in title within
<br /> the time provided therefor, not including the bringing of suits. If Windsor is unsuccessful in removing the title defects
<br /> within said time, County (and Trustees as to Tract E contained within Tract C) shall have the option to either: (a) accept
<br /> the title as it then is with no reduction in the value of the property to be received by County, (b) extend the amount of
<br /> time within which Windsor may remove the defects in title, or (c) terminate this Agreement, thereupon releasing the
<br /> parties hereto from all further obligations under this Agreement. :-lf Windsor fails to make a diligent effort to remove the
<br /> title defects, Windsor shall be in default and the provisions of paragraph 16. of this Agreement shall apply. If Windsor
<br /> obtains a title commitment for Tracts A and B, Windsor shall have 30 days after receipt of the commitment to determine
<br /> if there are any title defects. If Windsor determines there are defects in the property to be received by Windsor that are
<br /> unacceptable to Windsor and that affect the marketability of Tracts A and/or B, Windsor shall have the option to either:
<br /> (a) accept the title as it then is with no reduction in the value of the property to be received by Windsor, or (b) terminate
<br /> this Agreement, thereupon releasing the parties hereto from all further obligations under this Agreement. Neither BOT
<br /> nor County will have any obligation to cure defects on Tracts A and B .
<br /> 7, INTERESTS CONVEYED. At closing, the parties will execute and deliver deeds conveying fee simple title as
<br /> follows:
<br /> Tract A - BOT will execute and deliver to Windsor a quitclaim deed for Tract A;
<br /> Tract B - County will execute and deliver to Windsor a County Deed conveying marketable title to Tract B ;
<br /> Tract C - Windsor shall execute and deliver to County a statutory warranty deed in accordance with Section
<br /> 689.02, Florida Statutes, conveying marketable title to Tract C;
<br /> Tract D — Windsor shall execute and deliver to BOT a statutory warranty deed in accordance with Section
<br /> 689.02, Florida Statutes, conveying marketable title to Tract D; and,
<br /> Tract E - County will execute and deliver to BOT a conservation easement over Tract E, the southerly 50 feet
<br /> of the Golden Sands Park as configured after the exchange.
<br /> All Tracts shall be conveyed free and clear of all liens, reservations, restrictions, easements, leases, tenancies ana other
<br /> encumbrances, except those that are acceptable encumbrances in the opinion of the receiving party and except those that
<br /> do not impair the marketability of the title to the property. At closing, no party shall reserve any phosphate, minerals,
<br /> metals or petroleum interests.
<br /> 8 . PREPARATION OF CLOSING DOCUMENTS . Upon execution of this Agreement, Windsor shall submit
<br /> to BOT (as to Tract D) and to County (as to Tract C) a properly completed and executed beneficial interest affidavit
<br /> and disclosure statement as required by Sections 286.23 , 375 .031 ( 1 ) and 380.08(2), Florida Statutes. For the
<br /> property to be received by BOT, BOT shall prepare the deeds described in paragraph 7. of this Agreement, BOT's
<br /> closing statement, the title, possession and lien affidavit certified to BOT and title insurer, and an environmental
<br /> affidavit on DSL forms provided by DSL. County shall prepare the deed and other documents it shall receive and its
<br /> own closing statement. DSL shall prepare the deed from BOT for Tract A. Windsor shall prepare the deed (except for
<br /> the deed from BOT for Tract A, which will be prepared by BOT) and other documents it shall receive and its own
<br /> closing statement. The conservation easement to be conveyed by County for Tract E will be substantially in the form of
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<br /> BLA- 104 , Revised 01 /26/06
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