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2023-102
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2023-102
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Last modified
8/25/2023 11:33:10 AM
Creation date
6/27/2023 12:59:06 PM
Metadata
Fields
Template:
Official Documents
Official Document Type
Agreement
Approved Date
06/06/2023
Control Number
2023-102
Agenda Item Number
8.H.
Entity Name
Cobb, William James
Subject
Agreement to Purchase and Sell Real Estate for Right of Way
for the 41st Street Left turn lane (EB) at US 1
General Warranty Deed and Title Insurance
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Indian River County Board of County Commissioners at a formal meeting of such Board or <br />by the County Administrator pursuant to his delegated authority. <br />4. Title. <br />4.1 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 <br />taxes for the year of Closing and covenants, restrictions and public utility easements of <br />record provided (a) there exists at Closing no violation of any of the foregoing; and (b) none <br />of the foregoing prevents County's intended use and development of the Property <br />("Permitted Exceptions"). <br />4.2 County may order an Ownership and Encumbrance Report or Title Insurance <br />Commitment with respect to the Property. County shall within thirty (30) days following the <br />Effective Date of this Agreement deliver written notice to Seller of title defects. Title shall <br />be deemed acceptable to County if (a) County fails to deliver notice of defects within the <br />time specified, or (b) County delivers notice and Seller cures the defects within thirty (30) <br />days from receipt of notice from County of title defects ("Curative Period"). Seller shall use <br />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 />5. Representations of the Seller. <br />5.1 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 />5.2 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 />5.3 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 />district, drainage district or any other special taxing district. <br />6. Default. <br />6.1 In the event the County shall fail to perform any of its obligations hereunder, the <br />Seller shall, at its sole option, be entitled to: (i) terminate this Agreement by written notice <br />and delivered to the County at or prior to the Closing Date and there upon the Seller shall <br />2 <br />
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