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JUL 07 2003 10 : 2enM DRUID B CHASE 9142321364 p . 2 Qt116 . Dy : 1nulAM H1VER CO ; 772 978 18068 Ju1 - 7 . 03 10 : 13AM ; Page 2 / 2 �. . .IR 0 AGREEMENT TO PURCHASE AND SELL, REAL EST Pccsrse ATE THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE A `a•'` and entered into as of thc15 da of J u 1 (" grccment ") is made — Y Y , 2003 , by and between Indian River County, a w political subdivision of the State of Florida ("County'), and MembersF The Fountains At Amber Lakes, I- LC ("Seller"), who agree as follows Ntoo 1 . Agee_o Purchase and 5911 The Seller hereby agrees to sell to the County, and the County hereby agrees to purchase from Seller, upon the terms and conditions set forth in this Agreement, that certain parcel of real property located at 43d Avenue, South of Oslo Road , County of Indian River, State of Florida and more specifically described on Exhibit "A , " containing approximately . 61 acre, and all improvements thereon, together with all easements, rights and uses now or hereafter belonging thereto (collectively, the "Property'). 2 • Purchase Price Effective Date The purchase price (the "Purchas Price's for the Property age � shall be paid on the Closing Date. The Effective Date of Agreement " " Purchase Price shalt be V gr ent shall be the (late upon which the too County shall have approved the execution ofthis Board Agreement, either by approval County Board of County Commissioners at a formal meeting of such oor by ItheaCoutnt r Administrator pursuant to his delegated authority, y 3 , Ti e. Sell6T shall convey marketable title to the Property by warranty deed free of claims, liens, easements and encumbrances ofrecortd or known to Seller; butsubjeetto property taxes for the year of Closing and covenants, restrictions and public utility casements of record provided (a) there exists at Closing no violation of any of the foregoing; and (b) none of the foregoing prevents Cotuily's intended use and development of the Property. 12 County may order an Ownership and Encumbrance Report with respect to the Property. County shall , within thirty (30) days from either, receipt ofthe Ownership and Encumbrance Report, or execution of this contract by all parties (whichever occurs last) deliver written notice to Seller of title defects. Title shall be deemed acceptable to County if (a) County fails to deliver notice of detects within the time specified, or (b) County delivers notice and Seller cures the defects within thirty (30) days from receipt of notice from County of title defects ( "Curative Period' ). Seller shall use best efrorts to cure the defects within the Curative Period and if the title defects are not cured within the Curative Period, County shall have thirty (30) days from the end of the Curative Period to elect , by written notice to Seller, to : (1) to terminate this Agreement, whereupon shall be ofno further force and effect , or ( ii) extend the Curative Period for up to an additional 90 days ; or (iii) accept title subject to existing defects and proceed to closing. 4 . Representations of the Seller. 4 . 1 Seller is indefeasibly seized of marketable, lee 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 smatter of this Agre;mcnt, free and cleat of all liens and encumbrances, %At nAsro)Amhe Lakes, ere — Indian River C:olntty and The Fnuntaint 1 At Amhcr Lake, LLC h,