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2 . PURCHASE PRICE AND PAYMENT . <br /> In consideration of the conveyance of the Property to Buyer, Buyer shall pay to Seller the <br /> sum of One Hundred Sixty Thousand and No/ 100 ($ 160,000 . 00) Dollars (the "Purchase Price " ) <br /> payable to Seller as follows : <br /> a. Deposit . The Deposit shall be paid to the <br /> Escrow Agent, as defined below, upon <br /> Buyer ' s execution of this Agreement. $ 169000 .00 <br /> b . Cash at Closing . The balance of the <br /> Purchase Price , subject to the adjustments <br /> and prorations required by this <br /> Agreement, shall be paid by Buyer at <br /> Closing in the form of a cashiers check, <br /> drawn upon an Indian River County area <br /> bank or confirmed wire transfer. $ 144 ,000.00 <br /> c . Total Purchase Price . $ 1609000 .00 <br /> d . Deposit . If the Closing Date is more than thirty (30) days from the Effective Date of <br /> this Agreement, the Deposit shall be placed in an interest bearing account with a federally insured <br /> bank of Escrow Agent' s selection. Notwithstanding the foregoing, the Escrow Agent shall not be <br /> required to place the Deposit in an interest bearing account until such time as Buyer delivers to <br /> Escrow Agent a fully completed and executed W-9 reporting form as required by the Internal <br /> Revenue Service . Any earned interest shall be paid to or credited to Buyer unless Buyer defaults <br /> hereunder and Seller is entitled to retain the Deposit in which event Seller shall also be entitled to the <br /> interest earned thereon. <br /> e . Escrow Agent. The Deposit shall be held by SHUMAKER, LOOP & KENDRICK, <br /> LLP, 240 South Pineapple Avenue, Sarasota, FL 34236, Attn : Malcolm J. Pitchford, Esquire <br /> (the "Escrow Agent") subject to the terms and conditions of Paragraph 15 below. Buyer <br /> acknowledges and agrees that Escrow Agent represents Seller as legal counsel and that it shall not <br /> constitute a conflict of interest for Escrow Agent to act as the escrow agent under this Agreement and <br /> that, in the event of a dispute between Buyer and Seller, Escrow Agent may continue to represent <br /> Seller in connection with any such dispute . <br /> 3 . PROPERTY CONVEYED " AS IS " . <br /> EXCEPT AS EXPRESSLY STATED HEREIN , BUYER ACKNOWLEDGES AND <br /> AGREES THAT SELLER HAS NOT MADE, DOES NOT MAKE AND SPECIFICALLY <br /> NEGATES AND DISCLAIMS ANY REPRESENTATIONS , WARRANTIES (OTHER THAN <br /> THE WARRANTY OF TITLE AS SET OUT IN THE SPECIAL WARRANTY DEED , AS <br /> DEFINED BELOW) , PROMISES , COVENANTS , AGREEMENTS OR GUARANTIES OF ANY <br /> KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED , ORAL OR <br /> WRITTEN, PAST, PRESENT , OR FUTURE, OF , AS TO , CONCERNING OR WITH RESPECT <br /> sLK_sAR: a1910010 2 <br />