Laserfiche WebLink
The Purchase Price shall be paid to Seller 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 <br />this Agreement, either by approval by the Indian River County Board of County <br />Commissioners at a formal meeting of such Board or by the County Administrator pursuant <br />to his delegated authority and the duly authorized representative of the County executes <br />the Agreement. The Parties hereby acknowledge and agree that the Seller has executed <br />the Agreement prior to the County's counter execution in order to accommodate the <br />County's approval process. The Parties further agree that in the eventthat the County fails <br />to deliver this Agreement fully executed to Seller via certified mail with signature receipt <br />confirmation within 30 days from the date Seller executed the Agreement, that this <br />Agreement shall be null and void, the Parties be released from the Agreement and neither <br />Party shall have any further obligation to the other. <br />3. Title. Seller shall convey marketable title to the Property by special warranty deed <br />free of claims, liens, easements and encumbrances of record or known to Seller; but <br />subject to property taxes for the year of Closing and covenants, restrictions and public <br />utility 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 commercially reasonable best efforts to cure the defects within the Curative Period and <br />if the title defects are not cured within the Curative Period, County shall have thirty (30) <br />days from the end of the Curative Period to elect, by written notice to Seller, to: (i) to <br />terminate this Agreement, whereupon shall be of no further force and effect, or (ii) accept <br />title subject to existing defects and proceed to closing. Notwithstanding the foregoing, in <br />no event shall Seller be required to incur costs greater than $1,000 related to Seller's best <br />efforts to cure title defects. <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 To the best of Seller's knowledge, there are no existing or pending special <br />assessments affecting the Property, which are or may be assessed by any governmental <br />authority, water or sewer authority, school district, drainage district or any other special <br />taxing district. <br />P61 <br />