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7. Closing Costs: Expenses. County shall be responsible for preparation of all <br />Closing documents. <br />7.1 County shall pay the following expenses at Closing: <br />7.1.1 The cost of recording the warranty deed and any release or satisfaction obtained <br />by Seller pursuant to this Agreement. <br />7.1.2 Documentary Stamps required to be affixed to the warranty deed. <br />7.1.3 All costs and premiums for the owner's marketability title insurance commitment <br />and policy, if any. <br />7.1.4 There are no engineering fees related to this parcel. <br />7.1.5 Attorney's fees and costs are $3,000 reduced from the negotiated minimum of <br />$4,000. <br />7.1.6 Appraisal fees in the amount of $1,000 for the services of All Real Estate <br />Appraisals. <br />7.2 Seller shall pay the following expenses at or prior to Closing: <br />7.2.1 All costs necessary to cure title defect(s) or encumbrances, other than the <br />Permitted Exceptions, and to satisfy or release of record all existing mortgages, liens or <br />encumbrances upon the Property. <br />8. Miscellaneous. <br />8.1 Controlling Law. This Agreement shall be construed and enforced in accordance <br />with the laws of the State of Florida. Venue shall be in Indian River County for all state <br />court matters, and in the Southern District of Florida for all federal court matters. <br />8.2 Condemnation. In the event that all or any part of the Property shall be acquired <br />or condemned for any public or quasi -public use or purpose, or if any acquisition or <br />condemnation proceedings shall be threatened or begun prior to the Closing of this <br />transaction, County shall have the option to either terminate this Agreement, and the <br />obligations of all parties hereunder shall cease, or to proceed, subject to all other terms, <br />covenants, conditions, representations and warranties of this Agreement, to the Closing <br />of the transaction contemplated hereby and receive title to the Property; receiving, <br />however, any and all damages, awards or other compensation arising from or <br />attributable to such acquisition or condemnation proceedings. County shall have the <br />right to participate in any such proceedings. <br />4 <br />