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t <br />I <br />zoning ordinances or resolutions shall ipso facto make the title to be conveyed <br />to be bad and unmarketable. <br />11. Mortgages, liens and other encumbrances on the property, when <br />specified as defects by the Buyer, may be satisfied by the Owner simultaneously <br />with delivery of the warranty deed and payment of the balance of the purchase <br />price, provided that proper satisfaction instruments and the cost of recording <br />the same are then and there delivered to the Buyer. <br />12. Neither public utility easements on, in or under not larger than <br />five foot strips along the rear or side boundary lines of the property nor un- <br />violated restrictions or covenants imposing no greater restriction of use than <br />is imposed by existing governmental zoning ordinances and resolutions shall be <br />deemed defects in title, provided, however, that any right of reverter or con- <br />dition with right of re-entry for breach shall be deemed a defect in title. <br />13. The Buyer will pay the balance of the purchase price by <br />$200,000.00 cash at.time of Closing of which <br />this deposit shall be a part. <br />14. Seller agrees to convey all of its interest in the sewer <br />plant and related fixtures and equipment located on the subject <br />property by Bill of sale,.free and clear of all liens and encumbrance* <br />15. The following Agreements by third parties are a condition <br />to Buyer making the above described purchase. In the event any of <br />the third parties fail to join in this Document as to the provision <br />affecting them, agreeing to that provision's terms, then Buyer at <br />its election may terminate this Contract: <br />A. EDGAR L. SCHLITT hereby individually agrees to enter <br />into a Contract with INDIAN RIVER COUNTYupon terms previously discussed <br />and acceptable to both the attorney for EDGAR L. SCHLITT and the <br />attorney for INDIAN RIVER COUNTY. <br />INDIAN RIVER and TREASURE COAST UTILITIES, INC. <br />B. X= UTILITIES; INC./ hereby agrees to convey <br />a Quit Claim Deed to INDIAN RIVER COUNTY, conveying any interest the <br />corporation may have in the described.property and a Bill of Sale con - <br />