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2020-093
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2.1 Purchase Price, Effective Date. The purchase price ("Purchase Price") for the <br />Property shall be $5,500.00 (Five Thousand Five Hundred 00/100 Dollars) plus $6,605.00 <br />appraisal fee, $75.00 title search fee, and $1,950.00 engineer fees. The Purchase Price <br />shall be paid on the Closing Date. The Effective Date of this Agreement shall be the date <br />upon which the County shall have approved the execution of this Agreement, either by <br />approval by the Indian River County Board of County Commissioners at a formal meeting <br />of such Board or by the County Administrator pursuant to his delegated authority. <br />2.2 Costs and Fees. The County shall pay the Seller's attorney fees in the agreed <br />amount of $3,750.00 to Holloman Law, and in an amount to be determined by an agreed <br />third party to Neill Griffin Marquis, PLLC, pursuant to and in accordance with a separate <br />agreement between counsel. <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"). Seller's title search indicates that a predecessor <br />in title, Ruby Stubbs, may not have released her interest in the property; however, Seller's <br />understanding is that any defect is cured by the Marketable Record Title Act and will <br />convey subject to, and not be responsible, for removing any record interest of Ruby <br />Stubbs, which matter shall be considered a permitted exception. <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 />are or may be assessed by any governmental authority, water or sewer -"authority, school <br />
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