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T AGREEMENT TO PURCHASE AND SELL REAL ESTATE / THIS AGREEMENT TO PURCHASE AND SELL REAL ESTATE ( " Agreement" ) is made and entered into as of the 29thday of March 200 5 , by and between Indian River County , a political subdivision of the State of Florida (` County" ) , and Holiday Builders , Inc . , a Florida corporation , ( " Seller" ) , who agree as follows : 1 . Agreement to Purchase and Sell . 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 1350 8th Street , County of Indian River , State of Florida and more specifically described on Exhibit "A " , attached hereto and incorporated by this reference , containing 21 , 799 . 15 square feet ( . 50 acre ) , and all improvements thereon , together with all easements , rights and uses now or hereafter belonging thereto ( collectively , the " Property' ' ) . NOTE : The total right-of-way to be conveyed is a depth of 40 feet , fora total of 43 , 598 . 3 . quare feet ( approximately 1 acre ) . Of this , the south 20 feet ( see Exhibit " B " , attached hereto and incorporated by this reference ) is dedicated without compensation per the County' s Land Development Regulations , and the North 20 feet ( Exhibit " A" ) is by purchase . The Purchase Price below represents compensation for the Exhibit "A " property . 2 . Purchase Price , Effective Date . The purchase price (the " Purchase Price " ) for the Property shall be Twelve Thousand Two Hundred Seventy-Two Dollars ( $ 12 , 272 . 00 ) . The Purchase Price shall be paid on the Closing Date . The Effective Date of this Agreement shall be the date upon which the County shall have approved the execution of this Agreement , either by approval by the Indian River County Board of County Commissioners at a formal meeting of such Board or by the County Administrator pursuant to his delegated authority . 3 . Title . Seller shall convey marketable title to the Property by warranty deed free of claims , liens , easements and encumbrances of record or known to Seller; but subject to property taxes for the year of Closing and covenants , restrictions and public utility easements of record provided ( a ) there exists at Closing no violation of any of the foregoing ; and ( b ) none of the foregoing prevents County' s intended use and development of the Property (" Permitted Exceptions " ) . 3 . 1 County may order an Ownership and Encumbrance Report or Title Insurance Commitment with respect to the Property . County shall within fifteen ( 15 ) days following the Effective Date of this Agreement deliver written notice to Seller of title defects . Title shall be deemed acceptable to County if ( a ) County fails to deliver notice of defects 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 efforts to cure the defects within the Curative Period and if the title defects are not cured within the Curative Period , County 0211 have thirty ( 30 ) days from the end of the Curative Period to elect _ by written notice to Seller, to : ( i ) to terminate this Agreement , whereupon shall be of no 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. FAPublic Works\Capital Projects\M isc. Agreements\VaienciaPointe8thStRW 1 - 13 -05 .doc 1 RLXreey 'N 72,7 .I ojee foC! f/Ty