That pelt won't work since it's only 100 watts. Most processors produce well over 100 watts when overclocked so it will fry. Pelts pretty much cannot be cooled with air because you will be throwing much more heat at the sink than it can handle and will likely fry the pelt as a result. If you are going to use a pelt, you will need to plan on water cooling.
If the temps go below room temperature, you will need to protect your processor, socket, and board from condensation. Sub-ambient temps is the idea behind pelts and phase change cooling. Usually the socket is filled with dielectric grease, neoprene is used all around the processor and pelt to keep air from touching the cold parts and insulate. Many setups also include heaters, usually in the socket to prevent condensation on the back of the motherboard and on the traces. If no or inadaquate condensation prevention is used then the processor pins and metal leads/traces in contact with the water will rot and disintegrate.