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6. TITLE INSURANCE. Seller shall, at its sole cost and expense and at least 35 days prior to the Option Expiration Date, furnish to Purchaser a marketable title insurance commitment, together with copies of all instruments described in Schedule B of the Commitment, and, upon closing, an owner's marketable title insurance policy (ALTA Form "B") from a title insurance company, approved by the Purchaser, insuring marketable title of the Purchaser in and to the Property in the amount of the Purchase Price. The Title Agent shall be Robert D. Schwartz, P.A., whose address is 2240 Woolbright Rd., Suite 411, Boynton Beach, Florida, 33426 and whose phone number is (561) 367-0354 and whose fax number is (561) 736-4808. Seller shall require that the title insurer delete the standard exceptions of such policy referring to: (a) all taxes, (b) unrecorded rights or claims of parties in possession, (c) survey matters, (d) unrecorded easements or claims of easements, and (e) unrecorded mechanics' liens. 7. TITLE DEFECTS. If the title insurance commitment or Survey furnished to Purchaser pursuant to this Agreement discloses any defects in title which are not acceptable to Purchaser (herein "Title Defects"), Seller shall remove such defects in title within 90 days after notice from Purchaser ("Cure Period"). Seller agrees to use diligent efforts to correct the Title Defects within the Cure Period; however, Seller shall not be obligated to bring suit to cure such defects. Purchaser and Seller acknowledge and agree that the Option Expiration Date, or, if applicable, the closing date shall be extended for the duration of the Cure Period. If Seller is unsuccessful in removing the Title Defects within the Cure Period, or if Seller fails to make a diligent effort to correct the Title Defects, Purchaser shall have the option to either: (a) accept the title as it then is with no reduction in the Purchase Price; (b) extend the amount of time that Seller has to cure the Title Defects; or (c) terminate this Agreement, thereupon releasing Purchaser and Seller from all further obligations under this Agreement. 8. INTEREST CONVEYED. At closing, Seller shall execute and deliver to Purchaser a statutory warranty deed in accordance with Section 689.02, Florida Statutes, conveying marketable title to the Property in fee simple free and clear of all liens, reservations, restrictions, easements, leases, tenancies and other encumbrances, except for those that are acceptable encumbrances in the opinion of Purchaser and do not impair the marketability of the title to the Property, nor the management of the Property under Purchaser's environmentally sensitive lands acquisition program. The grantee in Seller's statutory warranty deed shall be Indian River County, a political subdivision of the State of Florida. 9. PREPARATION OF CLOSING DOCUMENTS. The Title Agent shall prepare the deed described in paragraph 8 of this Agreement; Seller's and Purchaser's closing statement; the title, possession and lien affidavit certified to Purchaser and title insurer in accordance with Section 627.7842, Florida Statutes; an environmental affidavit; and any other customary closing documents, all on forms approved by Purchaser ("Closing Documents"). All prepared Closing Documents shall be submitted to Purchaser for review and approval at least ten (10) days prior to closing. Purchaser will approve or reject the Closing Documents five (5) days after receipt by Purchaser. Seller will have three (3) days thereafter to revise and resubmit any rejected Closing Document to Purchaser. In the event Seller fails to timely deliver any Closing Document, or Purchaser rejects any Closing W. Ka