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2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the <br /> Property shall be $43,000.00 (Forty Three Thousand and 00/100 Dollars). The <br /> compensation ("Compensation") for the Temporary Construction Easement shall be <br /> $5,000.00 (Five Thousand and 00/100 Dollars). The Purchase Price and the <br /> Compensation shall be paid on the Closing Date. The Effective Date of this Agreement <br /> 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 <br /> at a formal meeting of such Board or by the County Administrator pursuant to his delegated <br /> authority. <br /> 2.2 Temporary Construction Easement. The Seller shall have thirty (30) days following <br /> the closing date to move the fence out of the temporary construction easement area, and <br /> the Seller will move at his own expense the fence back after construction is completed. <br /> 3. Title. Seller shall convey marketable title to the Property by warranty deed free of <br /> claims, liens, easements and encumbrances of record or known to Seller; but subject to <br /> property taxes for the year of Closing and covenants, restrictions and public utility <br /> easements of record provided (a) there exists at Closing no violation of any of the <br /> foregoing; and (b) none of the foregoing prevents County's intended use and development <br /> of the Property ("Permitted Exceptions"). <br /> 3.1 County may order an Ownership and Encumbrance Report or Title Insurance <br /> Commitment with respect to the Property. County shall within fifteen (15) days following <br /> the Effective Date of this Agreement deliver written notice to Seller of title defects. Title <br /> shall be deemed acceptable to County if(a) County fails to deliver notice of defects within <br /> the time specified, or (b) County delivers notice and Seller cures the defects within thirty <br /> (30) days from receipt of notice from County of title defects ("Curative Period"). Seller shall <br /> use best efforts to cure the defects within the Curative Period and if the title defects are not <br /> cured within the Curative Period, County shall have thirty (30) days from the end of the <br /> Curative Period to elect, by written notice to Seller, to: (i) to terminate this Agreement, <br /> whereupon shall be of no further force and effect, or(ii) extend the Curative Period for up <br /> to an additional 90 days; or (iii) accept title subject to existing defects and proceed to <br /> 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 <br /> sole owner of and has good right, title, and authority to convey and transfer the Property <br /> which is the subject matter of this Agreement, free and clear of all liens and <br /> encumbrances. <br /> 4.2 From and after the Effective Date of this Agreement, Seller shall take no action <br /> which would impair or otherwise affect title to any portion of the Property, and shall record <br /> no documents in the Public Records which would affect title to the Property, without the <br /> prior written consent of the County. <br /> 4.3.1 There are no existing or pending special assessments affecting the Property,which <br /> 2 <br />