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Property shall be two hundred twenty-five thousand dollars ($225,000.00). The Purchase Price shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date upon which the County approves the execution of this Agreement, either by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his delegated authority. 3. Title. County shall convey marketable title to the Property by County Deed free of claims, liens, easements and encumbrances of record or known to County; but subject to property taxes for the year of Closing and covenants, restrictions and public utility easements of record provided (a) there exists at Closing no violation of any of the foregoing; and (b) none of the foregoing prevents Buyer's intended use and development of the Property ("Permitted Exceptions"). 4. Representations of the County. 4.1 County is indefeasibly seized of marketable, fee simple title to the Property, and is the sole owner of and has good right, title, and authority to convey and transfer the Property which is the subject matter of this Agreement, free and clear of all liens and encumbrances. 4.2 From and after the Effective Date of this Agreement, County shall take no action which would impair or otherwise affect title to any portion of the Property, and shall record no documents in the Public Records which would affect title to the Property, without the prior written consent of Youth Guidance. 4.3 There are no existing or pending special assessments affecting the Property, which are or may be assessed by any governmental authority, water or sewer authority, school district, drainage district or any other special taxing district. 5. Default. 5.1 In the event Youth Guidance shall fail to perform any of its obligations hereunder, the County shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice delivered to Youth Guidance at or prior to the Closing Date; or (ii) waive the Buyer's default and proceed to Closing. Neither the County nor any other person or party shall have any claim for specific performance, damages, or otherwise against Youth Guidance. 5.2 In the event the County shall fail to perform any of its obligations hereunder, Youth Guidance shall, at its sole option, be entitled to terminate this Agreement by written notice delivered to the County at or prior to the Closing Date or (ii) waive the County's default and proceed to Closing. Thereupon neither Youth Guidance nor any other person or party shall have any claim for specific performance, damages or otherwise against the County. 6. Closing.