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forth in this Agreement , those certain parcels of real property located at 840 and 850 Oslo Road , Vero Beach , Florida, and more specifically described in the sketch and legal description attached as Exhibit "A" , containing approximately 0 . 24 acres ; and all improvements thereon , together with all easements , rights and uses now or hereafter belonging thereto; 2 , Purchase Price Effective Date .. The purchase price ("Purchase Price" ) for the Property shall be One Hundred five thousand four hundred eighty dollars ( $ 105 , 480 . 00) as established by an appraisal performed by Armfield -Wagner Appraisal and Research who was mutually agreed upon by the parties . The County shall pay and Sellershall acceptthe appraised value of the Property as the Purchase and Sale price of the Property . 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 except as noted in Exhibit "A" ; 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 shall 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 . 4 . 1 Seller is indefeasibly seized of marketable , fee 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 matter of this Agreement , free and clear of all liens and encumbrances . 4 . 2 From and after the Effective Date of this Agreement , Seller shall flake no action which would impair or otherwise affect title to any portion of the Property , and shall record