We present the results of measurements of the dc-magnetic susceptibility
chi(T) and the 23Na-NMR response of Na_{0.70}CoO_{2} at temperatures between 50
and 340 K. The chi(T) data suggest that for T > 75 K, the Co ions adopt an
effective configuration of Co^{3.4+}. The 23Na-NMR response reveals pronounced
anomalies near 250 and 295 K, but no evidence for magnetic phase transitions is
found in chi(T). Our data suggest the onset of a dramatic change in the Co
3d-electron spin dynamics at 295 K. This process is completed at 230 K. Our
results maybe interpreted as evidence for either a tendency to electron
localization or an unconventional charge-density wave phenomenon within the
cobalt oxide layer, CoO_2, 3d electron system near room temperature.Comment: 4 pages, 4 figures, re-submitted to Physical Review Letters. The
manuscript has been revised following the recommendations of the referees.
The discussion section contains substantial change