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Original <br />Florida and more specifically described in the legal description attached as Exhibit "A", and <br />Exhibit "B", fee simple, all improvements thereon, together with all easements, rights and uses <br />now or hereafter belonging thereto (collectively, the "Property"). <br />2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the Property <br />shown as EXHIBIT "A" shall be $43,500 (Forty -Three Thousand Five Hundred Dollars) and the <br />Property shown as EXHIBIT "B" shall be $4 per square foot (6,192 s.f.) equaling $24,798 <br />(Twenty -Four Thousand Seven Hundred Ninety -Eight Dollars). The combined purchase price of <br />EXHIBIT "A" and EXHIBIT "B" shall be $68,268 (Sixty -Eight Thousand Two Hundred Sixty -Eight <br />Dollars). The Purchase Price shall be paid on the Closing Date. The Effective Date of this <br />Agreement shall be the date upon which the County shall have approved the execution of this <br />Agreement, either by approval by the Indian River County Board of County Commissioners at a <br />formal meeting of such Board or by the County Administrator pursuant to his delegated authority. <br />Indian River County Board of County Commissioners/County Administrator, which ever applies, <br />authorizes County staff to sell the remainder parcel, after the right-of-way is extracted, by sealed <br />bids or public auction. (Full parcel purchases) <br />2.2 As -is condition. The County acknowledges that the Property being purchased in AS -IS <br />condition. Seller makes no representation, and expressly disclaims any warranty, as to the <br />condition of the Property or the improvements thereon. Sheller shall not be liable for defects of <br />any kind, nor shall Seller be responsible for any repairs. <br />3. Title. Seller shall convey marketable title to the Property by warranty deed free of claims, <br />liens, easements and encumbrances of record or known to Seller; but subject to property taxes <br />for the year of Closing and covenants, restrictions and public utility easements of record provided <br />(a) there exists at Closing no violation of any of the foregoing; and (b) none of the foregoing <br />prevents County's intended use and development of the Property ("Permitted Exceptions"). <br />3.1 County may order an Ownership and Encumbrance Report or Title Insurance Commitment <br />with respect to the Property. County shall within fifteen (15) days following the Effective Date of <br />this Agreement deliver written notice to Seller of title defects. Title shall be deemed acceptable <br />to County if (a) County fails to deliver notice of defects within the time specified, or (b) County <br />delivers notice and Seller cures the defects within thirty (30) days from receipt of notice from <br />County of title defects ("Curative Period"). Seller shall use best efforts to cure the defects within <br />the Curative Period and if the title defects are not cured within the Curative Period, County shall <br />have thirty (30) days from the end of the Curative Period to elect, by written notice to Seller, to: (i) <br />to terminate this Agreement, whereupon shall be of no further force and effect, or (ii) extend the <br />Curative Period for up to an additional 90 days; or (iii) accept title subject to existing defects and <br />proceed to closing. <br />4. Representations of the Seller. <br />4.1 Seller is indefeasibly seized of marketable, fee simple title to the Property, and is the sole <br />owner of and has good right, title, and authority to convey and transfer the Property which is the <br />subject matter of this Agreement, free and clear of all liens and encumbrances. <br />4.2 From and after the Effective Date of this Agreement, Seller shall take no action which <br />would impair or otherwise affect title to any portion of the Property, and shall record no <br />2 <br />