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6 . TITLE INSURANCE. Purchaser shall obtain and pay for a marketable title insurance
<br /> commitment, to be followed by an owner's marketable title insurance policy (ALTA Form "B"), insuring
<br /> marketable title of the Purchaser in and to the Property in the amount of the Total Purchase Price. At
<br /> closing the title insurer must delete the standard exceptions on the title policy referring to: (a) all taxes,
<br /> (b) unrecorded rights or claims of parties in possession, (c) survey matters, (d) unrecorded easements or
<br /> claims of easements, and (e) unrecorded mechanics' liens .
<br /> 7 . DEFECTS IN TITLE. If the title insurance commitment or Survey furnished to Purchaser
<br /> pursuant to this Agreement discloses any defects in title which are not acceptable to Purchaser, Seller
<br /> shall, within 90 days after notice from Purchaser, remove said defects in title . Seller agrees to use diligent
<br /> effort to correct the defects in title within the time provided therefore . If Seller is unsuccessful in
<br /> removing the title defects within said time or if Seller fails to make a diligent effort to correct the title
<br /> defects, Purchaser shall have the option to either: (a) accept the title as it then is with no reduction in the
<br /> Total Purchase Price, (b) extend the amount of time that Seller has to cure the defects in title, or (c)
<br /> terminate this Agreement, thereupon releasing Purchaser and Seller from all further obligations under this
<br /> Agreement.
<br /> 8 .A. INTEREST CONVEYED . At closing, Seller shall execute and deliver to Purchaser statutory
<br /> warranty deeds in accordance with Section 689 .02, Florida Statutes, conveying marketable title to the
<br /> Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies
<br /> and other encumbrances , except for those that are acceptable encumbrances in the opinion of Purchaser
<br /> and do not impair the marketability of the title to the Property, nor its management for the purposes of the
<br /> County environmentally sensitive lands acquisition program. The grantee in Seller's Warranty Deeds
<br /> shall be Indian River County, a political subdivision of the State of Florida.
<br /> 8 .13 . PERSONAL PROPERTY. In addition to the Property, Seller shall convey, through a bill of sale,
<br /> assignment, and other appropriate documents reasonably required by Purchaser, all tangible personal
<br /> property owned by Seller and used or useful in connection with the Property , and all intangible personal
<br /> property related in any way to the Property, as described below in this paragraph. All such personal
<br /> property shall be conveyed to Purchaser free and clear of all liens, security agreements and other interests:
<br /> (a) All tangible personal property, including, without limitation, all furniture, furnishings,
<br /> equipment, appliances, machinery and any other apparati, owned by Seller and used or useful in
<br /> connection with the Property (collectively, the "Tangible Personal Property"); and
<br /> (b) All intangible personal property, all development and `other rights and all documents,
<br /> technical matters, and work product related to the Property, including, without limitation, the following
<br /> (collectively, the " Intangible Personal Property"):
<br /> ( 1 ) Agreements, contracts, covenants, and restrictions related to or benefiting the
<br /> Property and improvements thereon, and any and all rights of Seller thereunder, including development
<br /> rights, air rights, density rights, and drainage rights;
<br /> (2) Deposits, including utility deposits, and reservation fees paid in connection with the
<br /> Property and improvements thereon;
<br /> (3 ) Approvals, licenses, authorizations, permits, and . applications with or from
<br /> governmental authorities related to or benefiting the Property and improvements thereon;
<br /> (4) Goodwill, if any, existing on account of the operation of the Property and
<br /> improvements theron;
<br /> (5) Warranties or guarantees received or held by Seller from any manufacturers,
<br /> contractors, subcontractors, or material suppliers in connection with the Property;
<br /> (6) Documents and work product of all professionals in connection with the Property,
<br /> including all environmental studies and water samplings , all soil or engineering tests, and all construction,
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