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2 . Agreement to Purchase and Sell . The Seller hereby agrees to sell to the County , <br /> and the County hereby agrees to purchase from Seller, upon the terms and conditions set <br /> forth in this Agreement , that certain parcel of real property located north of 73rd Street on <br /> 66th Avenue , Vero Beach , Florida . and more specifically described in the sketch and legal <br /> description attached as Exhibit "A" , containing approximately 2 . 396 acres , and all <br /> improvements thereon , together with all easements , rights and uses now or hereafter <br /> belonging thereto ( collectively , the " Property" ) . <br /> 3 . Purchase Price , Effective Date . The purchase price ( " Purchase Price " ) for the <br /> Property shall be Eighty Three Thousand two hundred five dollars ( $ 83 , 205 . 00 ) The <br /> purchase price was established by : ( 1 ) an appraisal of the 2 . 396 acres performed by an <br /> MAI appraiser who was mutually agreed upon by the parties . The County shall pay and <br /> Seller shall accept the adjusted appraised value of the 2 . 396 acres as the Purchase and <br /> Sale price of the Property . The Purchase Price shall be paid on the Closing Date . The. <br /> Effective Date of this Agreement shall be the date upon which the County shall have <br /> approved the execution of this Agreement , either by approval by the Indian River County <br /> Board of County Commissioners at a formal meeting of such Board or by the County <br /> Administrator pursuant to his delegated authority . <br /> 4 . 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 except as noted <br /> in Exhibit "A" ; but subject to property taxes for the year of Closing and covenants , <br /> restrictions and public utility easements of record provided ( a ) there exists at Closing no <br /> violation of any of the foregoing ; and ( b ) none of the foregoing prevents County' s intended <br /> use and development of the Property ( " Permitted Exceptions" ) . <br /> 4 . 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 /> 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 /> 2 <br />