EFTA00604392.pdf

"AS iS" Residential Contract For Safe And Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR • PARTIES: 124 Pare Monceau LLC  and Donna Ward 3 agree that Seller shall sell and Buyer shall buy the following described 4 (collectively Properly) pursuant to the terms and conditions of this AS 5 Purchase and any riders and addenda ("Contract'): s 1. PROPERTY DESCRIPTION:  (a) Street address, city, zip: lin MEM ("Seller), (*Buyer"), Real Property and Personal Property IS Residential Contract For Sale And IIIIIIIIIII_ r) Properly is locatedimealm Beach Coll" Florida. Reel PropertyTax ID No.:50-43-44-11-02-000-0060 • (c) Real Property: Tire legal desaiption is PARC MONCEAU LT 6 10 11 12 13 14 15 16 17 16 19 20' 21 Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. 2:r (e) The following items are excluded from the purchase: 24 25 together with all existing improvements and fixtures, including built-in appliances, built-in furnishings and attached wall-to-wall carpeting and flooring ('Real Property') unless specifically excluded in Paragraph 1(e) or by other terms of this Contract (d) Personal Property: Unless excluded in Paragraph 1(e) or by other terms of this Contract, the following items which are owned by Seller and existing on the Property as of the date of the initial offer are included in the purchase: range(s)/oven(s), refrigerator(s), dishwasher(s), disposal, ceiling fan(s), Intercom, light fixture(s), rods and draperies, blinds, window treatments, smoke detector(s), garage door opener(s), security gate and other access devices, and storm shutters/panels ("Personal Property"). Other Personal Property items included in this purchase are:washer, dryer PURCHASE PRICE AND CLOSING 23' 2. PURCHASE PRICE (U.S. currency)- 2r. (a) Initial deposit to be held In escrow In the amount of (checks subject to COLLECTION) • . $ (CH The EndK ONE): tial i ra ide7ccomab panleles andofter o ered r (ii) to bei made Agent' namedbelow left 2s so blank, then 3) days after Effective Date. IF NEITHER BOX IS CHECKED, THEN 31 OPTION (iI) SHALL BE DEEMED SELECTED. 32" Escrow Ascent Information: Name: Lawrence A Hoene Associates Inc. 33' Address: 35' (b) Additional deposit to be delivered to Escrow Agent within 11 left 156b1i) 655;76e7n41 0) 34' Phone: E 30* days after Effective Date $ 97 (All deposits paid or agreed to be paid, are collectively referred to as the 'Deposit') (c) Financing: Express as a dollar amount or percentage ('Loan Amount') see Paragraph 8. . (d) Other: $ so (e) Balance to close (not Including Buyers closing costs, prepaids and potations) by wire $4,950,000.00 41. transfer or other COLLECTED funds S -43?I€-r494-00 42 NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARDS. FOR ACCEPTANCE OF OFFER AM) COUNTER-OFFERS; EFFECTIVE DATE: If not signed by Buyer and Seiler, and an. executed copy delivered to all parties on or before 50a; 9£(91 946.E , this otter shall be deemed withdrawn and the Deposit, if any, shall be returned to Buyer. Unless otherwise statabtime for acceptance of any counter-offers shall be within 2 days after the day the counter-offer is delivered. February 22, 2016 (b) The effective date of this Contract shall be the date when the last one of the Buyer and Seller has signed or Initialed and delivered this offer or final counter-offer ("Effective Date"). CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this transaction shall occur and the dosing documents required to be furnished by each party pursuant to this Contract shall be delivered ("Closing") on Mg Date"), at the time established by the Closing Agent leetTinelt16 - le , 0 38* Sr 48 49 so 4. 51 55 500,000.00 4..444444.40 10.000, 00 $540,000.00 1461-0441/1-00. Buyer's Inifs ge 1 of 12 Seller's Initials florklaRourors/i9 -ASS-4 Rev. 9/1502015 Florida Realtors° and The Florida Bar. MI Opts reserved. Larer.sx4- Mtaa Asanciaked44,2459641ro Meters* Bad' PISS Phase 06005.5510 FM: 06k)as 4744 LortneA %ens PecdOood Nth 16Foemeb/ *Legit 1 4070 rl Mb Ro ram. Sachben 0095 mtplogt“stai :24Nrc Moose EFTA00604392 53 5. EXTENSION OF CLOSING DATE: sa (a) If Paragraph NW is checked and Closing funds from Buyer's lender(s) are not available on Closing Date due ss to Consumer Financial Protection Bureau Closing Disclosure delivery requirements MFRS Requirements"), Sa then Closing Date shall be extended for such period necessary to satisfy CFPB Requirements, provided such sr period shall not exceed 10 days. sa (b) If extreme weather or other condition or event constituting 'Force Majeure" (see STANDARD G) causes: (I) se disruption of utilities or other services essential for Closing or (I) Hazard, Wind, Flood or Homeowners' so insurance, to become unavailable prior to Closing, Closing shall be extended a reasonable time up to 3 days ei after restoration of utilities and other services essential to Closing and availability of applicable Hazard, Wind, 52 Flood or Homeowners' insurance. If restoration of such utilities or services and availability of insurance has 63' not occurred within (if left blank, then 14) days after Closing Date, then either party may terminate sr this Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby es releasing Buyer and Seller from all further obligations under this Contract. ee 6. OCCUPANCY AND POSSESSION: 67 (a) Unless the box in Paragraph 6(b) is checked, Seller shall, at Closing, deliver occupancy and possession of es the Property to Buyer free of tenants, occupants and future tenancies. Also, at Closing, Seller shall have es removed all personal items and trash from the Property and shall deliver all keys, garage door openers, 70 access devices and codes, as applicable, to Buyer. tf occupancy is to be delivered before Closing, Buyer 71 assumes all risks of loss to the Property from date of occupancy, shall be responsible and liable for 72 maintenance from that date, and shall be deemed to have accepted the Property in its existing condition as of n time of taking occupancy. 74' (b) O CHECK IF PROPERTY iS SUBJECT TO LEASE(S) OR OCCUPANCY AFTER CLOSING. If Property is is subject to a lease(s) after Closing or is intended to be rented or occupied by third parties beyond Closing, the 76 facts and terms thereof shall be disclosed in writing by Seller to Buyer and copies of the written lease(s) shall 77 be delivered to Buyer, all within 5 days after Effective Date. If Buyer determines, in Buyer's sole discretion, 78 that the kaase(s) or terms of occupancy are not acceptable to Buyer, Buyer may terminate this Contract by 70 delivery of written notice of such election to Seller within 5 days after receipt of the above items from Seller, ao and Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under el this Contract. Estoppel Letter(s) and Seller's affidavit shall be provided pursuant to STANDARD D. If Property 62 is intended to be occupied by Seller after Closing, see Rider U. POST-CLOSING OCCUPANCY BY SELLER. as' 7. ASSIGNABILITY: (CHECK ONE) Buyer O may assign and thereby be released from any further liability under w this Contract; MI may assign but not be released from liability under this Contract or O may not assign this 85 Contract. se FINANCING 87 8. FINANCING: sr aa (a) Buyer will pay cash for the purchase of the Property at Closing. There is no financing contingency to as Buyer's obligation to dose. If Buyer obtains a loan for any part of the Purchase Price of the Property, Buyer, so acknowledges that any terms and conditions imposed by Buyer's lender(s) or by CFPB Requirements shall not 91 affect or extend the Buyer's obligation to close or otherwise affect any terms or conditions of this Contract. sr O (le) This Contract is contingent upon Buyer obtaining a written loan commitment for aO conventional O FHA sr O VA or O other (describe) loan on the following terms within (if left blank then 45) SW' days after Effective Date ("Loan Commitment Date" for (CHECK ONE): O fixed, I.J adjustable, O fixed or 95" adjustable rate loan in the Loan Amount (See Paragraph 2(c)), at an initial interest rate not to exceed % w (if left blank, then prevailing rate based upon Buyer's credtworthiness), and for a term of (If left blank, sr then.30) years ("Financing". sr Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days after so Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing Mean leo Commitment") and thereafter to close this Contract. Buyer shall keep Seller and Broker fully informed about the rot status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and Buyer's roc lender to disclose such status and progress to Seller and Broker. 109 ID. Upon Buyer's receipt of Loan Commitment, Buyer shall provide written notice of same to Seller. If Buyer does not IDS receive Loan Commitment by Loan Commitment Date, then thereafter either party may cancel this Contract up to roe the earlier of: Buyer's Inftia Page 2 of 12 Seller's Initials FioeidaRealtors/FI Rev-9/15 O2015 Florida Realtorseand The Florida Bar. All rights reserved. Reseed vAlh aria by *to& 1aV70 Moen Mk Road, Flaser...ecien 48026 ww., 250( Cr* om 124 Prat Monceau EFTA00604393 107 (i.) Buyer's delivery of written notice to Seller that Buyer has either received Loan Commitment or elected roe to waive the financing contingency of this Contract or we (N,) 7 days prior to the Closing Date specified In Paragraph 4, which date, for purposes of this Paragraph 110 8(b) (l), shall not be modified by Paragraph 5(a). 111 If either party timely cancels this Contract pursuant to this Paragraph 8 and Buyer Is not In default under the terms 112 of this Contract, Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further 113 obligations under this Contract If neither party has timely canceled this Contract pursuant to this Paragraph 8, 114 then this financing contingency shall be deemed waived by Buyer. 115 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not thereafter 116 close, the Deposit shall be paid to Seller unless failure to close is due to: (1) Seller's default; (2) Property related 117 conditions of the Loan Commitment have not been met (except when such conditions are waived by other 116 provisions of this Contract); (3) appraisal of the Property obtained by Buyers lender is insufficient to meet terms 119 of the Loan Commitment or (4) the loan is not funded due to financial failure of Buyer's lender, In which event(s) 120 the Deposit shall be returned to Buyer, thereby releasing Buyer and Seller from all further obligations under this 121 Contract. in. 0 (c) Assumption of existing mortgage (see rider for terms). in. 0 (d) Purchase money note and mortgage to Seller (see riders; addenda; or special clauses for terms). 124 CLOSING COSTS, FEES AND CHARGES 125 9. CLOSING COSTS; 1111.E INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 126 (a) COSTS TO BE PAID BY SELLER: in • Documentary stamp taxes and surtax on deed, if any • HONCendominium Association estoppel fees in • Owner's Policy and Charges (if Paragraph 9(c) (I) is checked) • Recording and other fees needed to cure title iss • Title search charges (if Paragraph 9(c) (III) is checked) • Seller's attorneys' fees 130' • Municipal lien search Of Paragraph 9(c) () or (Hi) is checked) • Other 191 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 132 a sum equal to 125% of estimated costs to meet the AS IS Maintenance Requirement shall be .escrowed at 133 Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 134 pay such actual costs. Any unused portion of escrowed amount(s) shall be returned to Seller. 135 (b) COSTS TO BE PAID BY BUYER: 136 • Taxes and recording fees on notes and mortgages • Loan expenses 137 • Recording fees for deed and financing statements • Appraisal fees ise • Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) • Buyers Inspections las • Survey (and elevation certification, if required) • Buyer's attorneys' fees 140 • Lenders title policy and endorsements • All property related insurance 141 • HOA/Gondominium Association application/transfer fees • Owners Policy Premium (if Paragraph 142 • Municipal lien search (If Paragraph 9(c) (Ii) is checked) 9 (c) (ii) is checked.) urn • Other: ur (c) TITLE EVIDENCE AND INSURANCE: At least (if left blank, then 15, or if Paragraph 8(a) is checked, 145 then 5) days prior to Closing Date (-Title Evidence Deadrme"), a title Insurance commitment Sued by a us Florida licensed title insurer, with legible copies of instruments listed as exceptions attached thereto (Tale 147 Commitment') and, after Closing, an owners policy of title insurance (see STANDARD A for terms) shall be 148 obtained and delivered to Buyer. If Seller has an owner's policy of title insurance covering the Real Property, 149 a copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. The owner's title 150 policy premium, title search and closing services (collectively, 'Owner's Policy and Charges') shall be paid, as 151 set forth below. The title fru:want:0 premium chargee for the owner's policy and any lender's policy will be 152 calculated and alienated in accordance with Florida law, but may be reported differently on certain federally 153 mandated closing disclosures end other closing documents. 154 (CHECK ONE): 155^ It () Seller shall designate Closing Agent and pay for Owner's Policy and Charges, and Buyer shall pay the 156 premium for Buyer's lender's policy and charges for closing services related to the lender's policy, 157 endorsements and loan closing, which amounts shall be paid by Buyer to Closing Agent or such other 158 ider(s) as Buyer may select; or 1191• 0 00 Buyer will designate Closing Agent and pay for Owners Policy and Charges and charges for closing um services related to Buyers lenders policy, endorsements, and loan dosing; or ler 0 (iii) [MIAMI-DADE/BROWARD REGIONAL PROVISION]: Seiler will furnish a copy of a prior owner's ies policy of title Insurance or other evidence of title and pay fees for: (A) a continuation or update of such title .9-1/ Buyer's Min Page 3 of 12 Sears Initials FloriclaReahera/F AS1S-4 Rev. 915 02015 Florida ReaRocs0 and The Florida 83:. raoh 3 reserved. Produped SIN slaws by 4,041x I OM reaon Iris Rog. Hs. SZthhjan 48026 124 Parc Monceau EFTA00604394 193 evidence, which is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; 164 and. (C) municipal lien search. Buyer shall obtain and pay for post-Closing continuation and premium for 165 Buyer's owner's policy, and if applicable, Buyers lender's policy. Seller shall not be obligated to pay more 166' than $ (if left blank, then $200.00) for abstract continuation or title search ordered or 167 performed by Closing Agent 168 (d) SURVEY: On or before Title Evidence Deadline, Buyer may, at Buyer's expense, have the Real Property to surveyed and certified by a registered Florida surveyor (*Survey"). It Seller has a survey covering the Real in Property, a copy shall be furnished to Buyer and ClosingAgent within 5 days after Effective Date. in. (e) HOME WARRANTY: At Closing, El Buyer O Seller 03 N/A shall pay for a home warranty plan issued by 172' at a cost not to exceed $ . A home in warranty plan provides for repair or replacement of many of a home's mechanical systems and major built-in 174 appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period. 175 (0 SPECIAL ASSESSMENTS: At Closing, Seller will pay: () the full amount of liens imposed by a public body 176 (*public body does not include a Condominium or Homeowners Association) that are certified, confirmed and 1n ratified before Closing; and {A) the amount of the public body's* most recent estimate or assessment for an 178 improvement which is substantially complete as of Effective Date, but that has not resulted in a lien being 1n inipneed on the Property before Closing. Buyer shall pay all other assessments. If special assessments may too be paid in installments (CHECK ONE): tar El (a) Seller shall pay installments due prior to Closing and Buyer shall pay installments due after Closing. 182 Installments prepaid or due for the year of Closing shall be prorated. 163' fal (b) Seller shall pay the assessment(s) in full prior to or at the tine of Closing. 184 IF NEITHER BOX IS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. 185 This Paragraph 9(f) shall not apply to a special benefit tax lien Imposed by a community development district 188 (CDD) pursuant to Chapter 190, F.S., which lien shall be prorated pursuant to STANDARD K 187 DISCLOSURES 188 10. DISCLOSURES: 186 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when ft Is accumulated in a building in 195 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 191 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding 192 radon and radon testing may be obtained from your county health department 193 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, 194 Seller does not know of any improvements made to the Property which were made without required permits 195 or made pursuant to permits which have not been properly dosed. 196 (c) MOLD: Mold is naturally occurring and may cause health risks or damage to property. if Buyer is concerned in or desires additional Information regarding mold, Buyer should contact an appropriate professional. no (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood in zone the Property is in, whether flood insurance is required by Buyers lender, and what restrictions apply to 200 improving the Property and rebuilding in the event of casualty. If Property is in a 'Special Flood Hazard Area aor or *Coastal Barrier Resources Acr designated area or otherwise protected area identified by the U.S. Fish 202 and Wildlife Service under the Coastal Barrier Resources Act and the lowest floor elevation for the building(s) 203 and /or flood insurance rating purposes is below minimum flood elevation or is ineligible for flood insurance 204 coverage through the National Flood Insurance Program or private flood insurance as defined in 42 U.S.C. 206' §4012a, Buyer may terminate this Contract by delivering written notice to Seller within (if left blank, 206 then 20) days after Effective Date, and Buyer shall be refunded the Deposit thereby releasing Buyer and Sr Seller from all further obligations under this Contract, failing which Buyer accepts existing 4946/404inn of me buildings and flood zone designation of Property. The National Flood Insurance Program may assess 209 additional fees or adjust premiums for pre-Flood Insurance Rate Map (pre-FIRM) non-primary structures 210 (residential structures in which the insured or spouse does not reside for at least 50% of the year) and an 211 elevation certificate may be required for actuarial rating. 212 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating information 213 Brochure required by Section 553.996, F.S. 214 (f) LEAD-BASED PAINT: If Property Includes pre-1978 residential housing, a lead-based paint disclosure is 215 mandatory. 216 (g) HOMEOWNERS' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS 217 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' 213 ASSOCIATION/COMMUNITY DISCLOSURE, IF APPLICABLE. Buyer's IMP more Pago 4 of 12 Seller's Initials ASIS4 Rev. 9n5 0 2015 Florida Realtars0 and The Florida Gar. Ai rights reserved. eassassinsi,omeat •y eta two nnean laitiRoct. Truer. !Orkin,' 4026 Inflad.2751.8461 124 Parc Monona EFTA00604395 219 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLERS CURRENT no PROPERTY TAXES AS THE 'AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED zn TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY 222 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN 223 HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT 224 THE COUNTY PROPERTY APPRAISERS OFFICE FOR INFORMATION. Ras (i) FIRPTA TAX WITHHOLDING: Seller shall inform Buyer in writing if Seller is a "foreign person' as defined by the no the Foreign Investment In Real Properly Tax Act ("FIRPTA"). Buyer and Seller shall comply with FIRPTA, 227 which may require Seller to provide aditional cash at Closing. if Seller is not a 'foreign person", Seller can ns provide Buyer, at or prior to Closing, a certification of non-foreign stains, under penalties of perjury, to inform 229 Buyer and Closing Agent that no withholding is required. See STANDARD V for further information pertaining mo to FIRPTA. Buyer end Seller are advised to seek legal counsel and tax advice regarding their respective ear rights, obligations, reporting and withholding requirements pursuant to FIRPTA. 232 I]) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which 233 are not readily observable and which have not been disclosed to Buyer. Except as provided for in the 294 preceding sentence, Seller extends and intends no warranty and makes no representation of any type, either 235 express or implied, as to the physical condition or history of the Property. Except as otherwise disclosed In zar writing Seller has received no written or verbal notice from any governmental entity or agency as to a 237 currently uncorrected building, environmental or safety code violation. 238 PROPERTY MAINTENANCE, CONDRiON, INSPECTIONS AND EXAMINATIONS 299 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the 240 Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date ("AS 241 IS Maintenance Requirement). 242 12. PROPERTY INSPECTION; RIGHT TO CANCEL: ao. (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 10 (if left blank, then 15) 244 days after Effective Date (inspection Period, within Will* to have such Inspections of the Property 245 performed as Buyer shall desire during the Inspection Period. If Buyer determines, In Buyer's sole 248 dIsarethm, Mat the Property is not acceptable to Buyer, Buyer may terminate this Contract by 247 delivering written notice of such election to Seller prior to expiration of Inspection Period. If Buyer 248 timely terminates this Contract, the Deposit paid shall be returned to Buyer, thereupon, Buyer and 248 Seller shall be released of all further obligations under this Contract; however, Buyer shaft be mo responsible for prompt payment for such inspections, for repair of damage to, and restoration of, the 251 Property resulting from such Inspections, and shall provide Seller with paid receipts for all work done 252 on the Property (the preceding provision shall survive termination of this Contract). Unless Buyer ye atomises the right to terminate granted herein, Buyer accepts the physical condition of the Property 254 and any violation of governmental, building, environmental, and safety codes, restrictions, or ze requirements, but subject to Seller's continuing AS iS Maintenance Requirement, and Buyer shall be 250 responsible for any and all repairs and improvements required by Buyer's lender. en (b) WALK-THROUGH INSPECTION/RE-INSPECTION: On the day prior to Closing Date, or on Closing Date 258 prior to time of Closing, as specified by Buyer, Buyer or Buyers representative may perform a walk-through 259 (and follow-up walk-through, if necessary) inspection of the Property solely to confirm that all items of no Personal Property are on the Property and to verify that Seller has maintained the Property as required by the al AS IS Maintenance Requirement and has met all other contractual obligations. am (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS: If Buyer's am inspection of the Property Identifies open or needed building permits, then Seller shaamometly-deliver-te KM WA fekttifitt40-iniff e vemeN9-te- the-ProPeffy- " S "ef e- the- subjeek- S - etleh- oPen- er- fleeded-4aemtiterand- shall ere promptly cooperate in good faith with Buycr'o efforts to obtain estimates of repair) or ether Wofk nocoocary to es, reeeive-sedi-Perwirt-issoesr-GelleSe-ebligetieri-te-eeeperere-ehall-inelede-Sefferle-exeeetien-ef-neeesse/ WA elithefitatienereefisemsref-ellief- deemnents- neecostitY4 or- RuYef-le-condeel- inefteelietie- end-heve-00hrleies NA Xce Buyers beecone-abiiffaled46-exfrefleilVineneY7 *close all open permits prior to Closing Page 5 0112 Soiler's Initials Revs/150 2015 Florida Realtorge and The Florida Bar. M rights reserved. Paeluomd tat *Fame by NY-oglx ecrro mesa mk Hoed Fay. kliApn 4t026 yw 14.5-ackoon 124 Pare Monceau EFTA00604396 271 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyers option and 272 cost, Seller 1.I/11!, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 273 to Buyer. 274 ESCROW AGENT AND BROKER 27s 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively "Agent") receiving the Deposit, other funds 276 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 277 within the State of Florida and, subject to COLLECTION, disburse them In accordance with terms and conditions 278 of this Contract Failure of funds to become COLLECTED shall not excuse Buyer's performance. When conflicting sa demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 280 may take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent's duties 281 or liabilities under this Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow az until the parties agree to fts disbursement or until a final judgment of a court of competent jurisdiction shall 283 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 284 of the dispute. An attorney who represents a party and also acts as Agent may represent such party In such zas action. Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, as except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate 287 broker, Agent will comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve 288 escrow disputes through mediation, arbitration, Interpleader or an escrow disbursement order. zas Any proceeding between Bayer and Seller wherein Agent Ls made a party because of acting as Agent hereunder, zee or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable an attorney's fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent. 292 Agent shall not be liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is 293 due to Agent's willful breach of this Contract or Agent's gross negligence. This Paragraph 13 shall survive Closing 294 or termination of this Contract gas 14. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition, 298 square footage, and all other facts and representations made pursuant to this Contract and to consult appropriate 297 professionals for legal, tax, environmental, and other specialized advice concerning matters affecting the Property no and the transaction contemplated by this Contract Broker represents to Buyer that Broker does not reside on the 299 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or 300 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND 301 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDMON, SQUARE FOOTAGE AND 302 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL 303 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (individually, the Indemnifying Party') each 304 individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and 305 employees from all liability for loss or damage, including all costs and expenses, and reasonable attorney's fees 309 at all levels, suffered or incurred by Broker and Broker's officers, directors, agents and employees in connection 307 with or arising from claims, demands or causes of action instituted by Buyer or Seller based on: (i) inaccuracy of 306 Information provided by the Indemnifying Party or from public records; (II) Indemnifying Party's misstatement(s) or 309 failure to perform contractual obligations; p) Broker's performance, at Indemnifying Party's request, of any task 310 beyond the scope of services regulated by Chapter 475, F.S., as amended, including Brokers referral, 311 recommendation or retention of any vendor for, or on behalf of Indemnifying Party; (iv) products or services 312• provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any such 313 vendor. Buyer and Seller each assumes full responsibility for selecting and compensating their respective vendors sis and paying their other costs under this Contract whether or not this transaction doses. This Paragraph 14 will not 316 relieve Broker of statutory obliaations under Chapter 475, F.S., as amended. For purposes of this Paragraph 14, sie Broker will be treated as a party to this Contract This Paragraph 14 shall survive Closing or termination of this 317 Contract. 318 319 15. DEFAULT: 320 321 322 323 324 428 DEFAULT AND DISPUTE RESOLUTION (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer's obligations under this Contract, including payment of the Deposit, within the time(s) specified, Seller may elect to recover and retain the Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this Contract, and In full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further obligations under this Contract, eff-SelleFret-,Sellerle-eptiern-mayrperseent-te-Paregraish-46remeeed-in-equity le-enforee-Selleee-Aghts-tastler-thie-Gentfeek The portion of the Deposit, If any, paid to Listing Broker upon Buyer's Initia Flo Aec4t ASIS-4 Rev. 9/1502015 Florida BealterseD and The Fl0dcla Bar. Al tights reserved. AreAse4 sal Mort" Safes 15010 Fern Inc ro ad. NOW, mbvess eve ereastsotrearo 124 PEG Moaccas Page 6 of 12 Seller's Initials EFTA00604397 sze default by Buyer, shall be split equally between Listing Broker and Cooperating Broker; provided however, 321 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to 328 pay to Cooperating Broker. 329 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's title marketable after 330 reasonable diligent effort, Seller falls, neglects or refuses to perform Seller's obligations under this Contract, sat Buyer may elect to receive return of Buyer's Deposit without thereby waiving any action for damages resulting 312 from Seller's breach, and, pursuant to Paragraph 16, may seek to recover such damages or seek specific 333 performance as This Paragraph 15 shall survive Closing or termination of this Contract aas 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and ass Seller arising out of, or relating to, this Contract Of its breach, enforcement or interpretation ("Disputes) will be 337 settled as follows: 330 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 339 resolve such Dispute, failing which, Buyer and Seller shall submit such Dispute to mediation under paragraph 340 16(b). 341 (b) Buyer and Seller shall attempt to settle Disputes In an amicable manner through mediation pursuant to Florida 342 Rules for Certified and Court-Appointed Mediators and Chapter 44, F.S., as amended (the "Mediation Rules'). 349 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 344 sought without first complying with this Paragraph 16(b), Disputes not settled pursuant to this Paragraph 16 345 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 340 16 shall survive Closing or termination of this Contract. 347 17. ATTORNEY'S FEES; COSTS: The parties will split equally any mediation fee incurred in any mediation permitted an by this Contract, and each party will pay their own costs, expenses and fees, including attorney's fees, Incurred in so conducting the mediation. In any litigation permitted by this Contract, the prevailing party shall be entitled to 353 recover from the non-prevailing party costs and fees, Including reasonable attorneys fees, Incurred in conducting 351 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract. 352 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS" 353 18. STANDARDS: 354 A. TITLE: 355 (i) TITLE EVIDENCE; RESTRICTIONS; EASEMENTS; LIMITATIONS: Within the time period provided in 358 Paragraph 9(c), the Title Commitment, with legible copies of instruments listed as exceptions attached thereto, 357 shall be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by 358 Seller at or before closing and shall provide that, upon recorcfing of the deed to Buyer, an owner's policy of title ass insurance in the amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the seo Real Property, subject only to the following matters: (a) comprehensive land use plans, zoning, and other land 381 use restrictions, prohibitions and requirements imposed by governmental. authority; (b) restrictions and matters 382 appearing on the Plat or otherwise common to the subdivision; (c) outstanding oil, gas and mineral rights of 383 record without right of entry; (d) unplatted public utility easements of record (located contiguous to real property 384 lines and not more than 10 feet in width as to rear or front lines and 7 1/2 feet in width as to side lines); (e) taxes ass for year of Closing and subsequent years; and (f) assumed mortgages and purchase money mortgages, if any (if 366 additional items, attach addendum); provided, that, none prevent use of Property for RESIDENTIAL PURPOSES. 367 If there exists at Closing any violation of items identified in (b) — (f) above, then the same shall be deemed a title 368 defect. Marketable title shall be determined according to applicable Title Standards adopted by authority of The 389 Florida Bar and in accordance with law. szo (if) TITLE EXAMINATION: Buyer shall have 5 days after receipt of Title Commitment to examine ii and notify 371 Seller in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and 372 ft is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after 373 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (*Cure Period") 3.74 after receipt of Buyer's notice to take reasonable diligent efforts to remove defects. If Buyer fails to so notify an Seller, Buyer shall be deemed to have accepted title as it then is. If Seller cures defects. within Cure Period, Seller are will deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties 377 will close this Contract on Closing Date (or if Closing Date has passed, within 10.days after Buyer's receipt of 378 Seller's notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 5 days after 373 expiration of Cure Period, deliver written notice to Seller: (a) extending Curo Period for a specified period not to 380 exceed 120 days within which Seller shall continue to use reasonable diligent effort to remove or cure the defects sat ('Extended Cure Period"); or (b) electing to accept title with existing defects and close this Contract on Closing :Not se , Buyer's In iti Page 7 of 12 Seller's Initials FloriciaRe ASIS-4 Rev 9/1502015 Florida Realtors/08nd The Florida Bar. Ai fights tesented Nuking vtIiircPotmeiwiSpock 14.770 Son 1414 Root rtaw. ittrof0xt 49= P"" rcblibuco• 124 Parc Manse EFTA00604398 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") CONTINUED 382 Date (or if Closing Date has passed, within the earlier of 10 days after end of Extended Cure Period or Buyer's 383 receipt of Seller's notice), or (c) electing to terminate this Contract and receive a refund of the Deposit, thereby 384 releasing Buyer and Seiler from all further obligations under this Contract. If after reasonable diligent effort, Seller ass is unable to timely cure defects, and Buyer does not waive the defects, this Contract shall terminate, and Buyer see shall receive a refund of the Deposit, thereby releasing Buyer and Seller from all further obligations under this 387 Contract. 365 B. SURVEY: If Survey discloses encroachments on the Real Properly or that improvements located thereon 389 encroach on setback lines, easements, or lands of others, or violate any restrictions, covenants, or applicable 990 governmental regulations described in STANDARD A ()(a), (b) or (d) above, Buyer shall deliver written notice of 391 such matters, together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later 392 than Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and 393 Survey shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered a 394 prior survey, Seller shall, at Buyer's request, execute an affidavit of 'no change° to the Real Properly, since the 399 preparation of such prior survey, to the extent the affirmations therein are true and correct 398 C. INGRESS AND EGRESS: Seller represents that there is ingress and egress to the Real Property and title to 397 the Real Property is Insurable In accordance with STANDARD A without exception for lack of legal right of 398 access. 399 D. LEASE INFORMATION: Seller shall, at least 10 days prior to Closing, furnish to Buyer estoppel letters from 400 tenants)/occupant(s) specifying nature and duration of occupancy, rental rates, advanced rent and security 401 deposits paid by tenant(s).or occupant(s)(Tstoppel Letter(s)"). If Seller is unable to obtain such Estoppel Letter(s) 402 the same information shell be furnished by Seller to Buyer within that time period in the form of a Seller's affidavit 403 and Buyer may thereafter contact tenant(s) or occupant(s) to confirm such information. If Estoppel Letter(s) or 404 Seller's affidavit, If any, differ materially from Seller's representations and lease(s) provided pursuant to 405 Paragraph 6, or if tenant(s)/occupant(s) fail or refuse to confirm Seller's affidavit, Buyer may delver written notice 408 to Seller within 5 days after receipt of such information, but no later than 5 days prior to Closing Date, terminating 407 this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all further obligations 408 under this Contract. Seller shall, at Closing, deliver and assign all leates to Buyer who shall assume Seller's 409 obligations thereunder. 410 E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting () to the absence of any financing 411 statement, claims of lien or potential Genera known to Seller and (ii) that there have been no improvements or 412 repairs to the Real Property for 90 days immediately preceding Closing Date. If the Real Property has been 413 improved or repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all 414 general contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth 416 names of all such general contractors, subcontractors, suppliers and materialmen, further affirming that all ars charges for improvements or repairs which could serve as a basis for a construction lien or a claim for damages 417 have been paid or will be paid at Closing. 418 F. TIME: Calendar days shall be used in computing time periods. Time is of the essence in this Contract. 419 Other than time for acceptance and Effective Date as set forth in Paragraph 3, any time periods provided for or 420 dates specified in this Contract, whether preprinted, handwritten, typewritten or inserted herein, which shall end or 421 occur on a Saturday, Sunday, or a national legal holiday (see 5 U.S.C. 6103) shall extend to 5:00 p.m. (where the c Property Is located) of the next business day. c G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 424 liable to each other for damages so long as performance or non-performance of the obligation is delayed, caused 425 or prevented by Force Majeure. 'Force majnirms means: hurricanes, earthquakes, floods, fire, acts of God, 426 unusual transportation delays, wars, Insurrections, and acts of terrorism, and which, by exercise of reasonable 427 diligent effort, the non-performing party is unable in whole or in part to prevent or overcome. All time periods, 428 including Closing Date, will be extended for the period that the Force Majeure prevents performance under this 429 Contract, provided, however, if such Force Majeure continues to prevent performance under this Contract more 430 than 14 days beyond Closing Date, then ether party may'terminate this Contract by delivering written notice to Ci the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all further 432 obligations under this Contract. 433 H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, 434 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters 435 described In STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be 438 transferred by absolute bill of sale with warranty of title, subject only to such matters as may be provided for in 437 this Contract. 438 I. CLOS. LOCATION; DOCUMENTS; AND PROCEDURE: Buyers Initi FloridaRealtors/Fla:4184A IS-4 Rev. W15 O 2015 Florida Realtors® and The Florida Bar. Al rights reserved. erratatiem accorteeer SAO( 18070 Shorn IS. Rood, Fraser, Wet= 45026 Wie.V.DCL22A00,11 Page 8 of 12 Seller's Initials 124 Pro Max EFTA00604399 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") CONTINUED 43s (i) LOCATION: Closing will take place in the county where the Real Property 'is located at the office of the 440 attorney or other closing agent ('Closing Agent") designated by the party paying for the owners policy of title 441 insurance, or, if no title Insurance, designated by Seller. Closing may be conducted by mail or electronic means. 442 (ii) CLOSING DOCUMENTS: Seller shall at or prior to Closing, execute and deliver, as applicable, deed, bill of 443 sale, certificate(s) of title or other documents necessary to transfer title to the Property, construction lien 414 affidavit(s), owner's' possession and no Hen affidavit(s), and assignment(s) of leases. Seller shall provide Buyer 44s with paid receipts for all work done on the Property pursuant to this Contract. Buyer shall furnish and pay for, as ars applicable the survey, flood elevation certification, and documents required by Buyer's lender. 447 (iii) PROCEDURE: The deed shall be recorded upon COLLECTION of all closing funds. If the Title Commitment 44a provides insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the escrow closing 449 procedure required by STANDARD J shalt be waived, and Closing Agent shall, subject to COLLECTION of all 460 closing funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to Seller. 481 J. ESCROW CLOSING PROCEDURE: If The Commitment issued pursuant to Paragraph 9(c) does not provide 452 for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following 453 escrow and closing procedures shall apply: (1) all Closing proceeds shall be held in escrow by the Closing Agent 4.54 for a period of not more than 10 days after Closing; (2) if Seller's title is rendered unmarketable, through no fault 455 of Buyer, Buyer shall within the 10 day period, notify Seiler in writing of the defect and Seller shall have 30 days am from date of receipt of such notification to cure the defect (3) if Seller fails to timely cure the defect, the Deposit 4.57 and all Closing funds paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, 458 simultaneously with such repayment, Buyer shall return the Personal Property, vacate the Real Property and re- 459 convey the Property to Seller by special warranty deed and bed of sale; and (4) If Buyer falls to make timely <so demand for refund of the Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening 481 defect except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale. 482 K PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as 463 of the day prior to Closing Date, or dale of occupancy If occupancy occurs before Closing Date: real estate taxes 464 (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents 485 and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if 488 assumable, in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may ma be required by prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will 488 be credited to Buyer. Escrow deposits held by Seller's mortgagee will be paid to Seller. Taxes shall be prorated 489 based on current year's tax with due allowance made for maximum allowable discount, homestead and other 470 exemptions. If Closing occurs on a date when current year's millage is not fixed but current year's assessment is 471 available, taxes will be prorated based upon such assessment and prior year's millage. If current year's 472 assessment is not available, then taxes will be prorated on prior year's tax. If there are completed improvements 473 on the Real Property by January 1st of year of Closing, which improvements were not in existence on January 1st 474 of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assessment to be 475 agreed upon between the parties, failing which, request shall be made to the County Property Appraiser for an 478 informal assessment taking into account available exemptions. A tax proration based on an estimate shall, at 4n either party's request, be readjusted upon receipt of current years tax bill. ThIs STANDARD K shall survive 478 Closing. 479 L ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK-THROUGH: Seller 490 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, 481 Including a walk-through (or follow-up walk-through if necessary) prior to Closing. 452 la RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire or other casually 483 ("Casualty Loss•) and cost of restoration (which shall Include cost' of pruning or removing damaged trees) does 484 not exceed 1.5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed 485 pursuant to terms of this Contract If restoration' Is not completed as of Closing, a sum equal to 125% of estimated me cost to complete restoration (not to exceed 1.5% of Purchase Price), will be escrowed at Closing. If actual cost of 487 restoration exceeds escrowed amount, Seller shall pay such actual costs (but, not in excess of 1.5% of Purchase 488 Price). Any unused portion of escrowed amount shall be returned to Seller. II cost of restoration exceeds 1.5% of 499 Purchase Price, Buyer shall elect to either take Property 'as is' together with the 1.5%, or receive a refund of the uo Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation Oat with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. 4a2 N. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like-kind exchange (either simultaneously with 4a3 Closing or deferred) under Section 1031 of the Internal Revenue Code ('Exchange'), the other party shall 494 cooperate in all reasonable respects to effectuate the Exchange, including execution of documents; provided, Buyer's Initials Page sot 12 Seller's Initials FioridaRoalkt 1S-4 Rev. W15O2015 Saida Re:althea and The Florida Bar. Afi Vita nasannid. emoted St *Fee witob:9•4 0070 Ruin w• wag new. whim 48Cet wevabLotecm 124 Parc Monceau EFTA00604400 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") CONTINUED 495 however, cooperating party shag Incur no liability or expense related to the Exchange, and Closing shall not be 496 contingent upon, nor extended or delayed by, such Exchange. 497 0. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; DELIVERY; COPIES; CONTRACT 488 EXECUTION: Neither this Contract nor any notice of it shall be recorded in any public records. This Contract shall 499 be binding on, and inure to the benefit of, the parties and their respective heirs or successors In Interest. 500 Whenever the context permits, singular shall include plural and one gender shall include all. Notice and delivery 50i given by or to the attorney or broker (including such broker's real estate licensee) representing any party shall be 502 as effective as if given by or to that party. All notices must be in writing and may be made by mail, personal 503 delivery or electronic (Including sprit) media A facsimile or electronic (including "pdf) copy of this Contract and 504 any signatures hereon shall be considered for all purposes as an original. This Contract may be executed by use 505 of electronic signatures, as determined by Florida's Electronic Signature Act and other applicable laws. 505 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement 507 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or en representations shall be binding upon Buyer or Seiler unless Included in this Contract. No modification to or sce change in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties aro intended to be bound by it. an Q. WAIVER: Failure of Buyer or Seller to insist on compliance with, or strict performance of, any provision of this 512 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 519 rights. 514 R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 515 or handwritten provisions shag control all printed provisions of this Contact in conflict with them. 515 S. COLLECTION or COLLECTED: "COLLECTION" or "COLLECTED" means any checks tendered or sir received, Including Deposits, have become actually and finally collected and deposited In the account of sis Escrow Agent or Closing Agent. Closing and disbursement of funds and delivery of closing documents en may be delayed by Closing Agent until such amounts have been COLLECTED In Closing Agent's acts accounts. an T. LOAN COMMITMENT: "Loan Commitment' means a statement by the lender setting forth the terms and 522 conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. Neither a • szi pre-approval letter nor a prequalification letter shall be deemed a Loan Commitment for purposes of this Contract. sas U. APPLICABLE LAW AND VENUE: This Contract shall be construed In accordance with the laws of the State us of Florida and venue for resolution of all disputes, whether by mediation, arbitration or litigation, shall fie in the we county where the Real Property Is located. 527 V. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): If a seller of U.S. real property is a sn 'foreign person' as defined by FIRPTA, Section 1445 of the Internal Revenue Code requires the buyer of the real sea property to withhold 10% of the amount realized by the seller on the transfer and remit the withheld amount to the aso Internal Revenue Service (IRS) unless an exemption to the required withholding applies or the seller has obtained 531 a Withholding Certificate from the IRS authorizing a reduced amount of withholding. Due to the complexity and 532 potential risks of FIRPTA, Buyer and Seller should seek legal and tax advice regarding compliance, particularly if 537 an 'exemption" is claimed on the sale of residential property for $300,000 or less. 534 (i) No withholding is required under Section 1445 If the Seller is not a "foreign person,' provided Buyer accepts 595 proof of same from Seller, which may Include Buyers receipt of certification of non-foreign status from Seller, 535 signed under penalties of perjury, stating that Seller is not a foreign person and containing Sellers name, U.S. 537 taxpayer identification number and home address (or office address, in the case of an entity), as provided for In 536 26 CFR 1.1445-2(b). Otherwise, Buyer shall withhold 10% of the amount realized by Seller on the transfer and 538 timely remit said funds to the IRS. 540 ('9 if Seller has received a Withholding Certificate from the IRS which providei for reduced or eliminated 541 withholding in this transaction and provides same to Buyer by Closing, then Buyer shall withhold the reduced 642 sum, if any required, and timely remit said funds to the IRS. 543 Pi) If prior to Closing Seller has submitted a completed application to the IRS for a Withholding Certificate and sia has provided to Buyer the notice required by 26 CFR 1.1445.1(c) (2)(0(B) but no Withholding Certificate has been 545 received as of Closing, Buyer shall, at Closing, withhold 10% of the amount realized by Seller on the transfer 546 and, at Buyer's option, either (a) timely remit the withheld funds to the IRS or (b) place the funds In escrow, at 547 Seller's expense, with an escrow agent selected by Buyer and pursuant to terms negotiated by the parties, to be 648 subsequently disbursed in accordance with the Withholding Certificate issued by the IRS or remitted directly to 549 the IRS If the Sellers application Is rejected or upon terms set forth in the escrow agreement. 550 (N) In the event the net proceeds due Seller are not sufficient to meet the withholding requirement(s) in this ss1 transaction, Seller shall deliver to Buyer, at Closing, the additional COLLECTED funds necessary to satisfy the Buyer's Initial FloridaRealto Page 10 of 12 Seller's Initials 154 Row. W15O2015 Raids rieallorse and The Florida Bar. All rights reserved. ercesse swommesziptoe 18070 Pl Ms 14:44 Facer, Wigan 41028 47, S . A.490.5251 124 Parc Monceau EFTA00604401 552 553 554 555 556 557 558 559 550 561 562 503 564* 565 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") CONTINUED applicable requirement and thereafter Buyer shall timely remit said funds to the IRS or escrow the funds for disbursement In accordance with the final determination of the IRS, as applicable. (v) Upon remitting funds to the IRS pursuant to this STANDARD, Buyer shall provide Seller copies of IRS Forms 8288 and 8288-A, as filed. W. RESERVED X. BUYER WAIVER OF CLAIMS: To the extent permitted by taw; Buyer waives any claims against Seller and against any real estate licensee involved In the negotiation of this Contract for any damage or defects pertaining to the physical condition of the Property that may exist at Closing of this Contract and be subsequently discovered by tho Buyer or anyone claiming by, through, under or against the Buyer. This provision does not relieve Seller's obligation to comply with Paragraph 100). This Standard X shall survive Closing. ADDENDA AND ADDITIONAL TERMS 19. ADDENDA: The following additional terms are included in the attached addenda or riders and incorporated Into this Contract (Check If applicable): OA. Condominium Rider 0 B. Homeowners' Assn. 0 C. Seller Financing 0 D. Mortgage Assumption OE. FHANA Financing OF. Appraisal Contingency ❑G. Short Sale OH. Homeowners/Flood Ins. OJ. Interest-Bearing Acct. sir 20. ADDITIONAL TERMS: 687 588 589 570 371 572 573 574 575 678 577 578 579 580 581 582 OK. RESERVED CIL. RESERVED OM. Defective Drywall ON. Coastal Construction Control Line 00. Insulation Disclosure an P. Lead Paint Disclosure (Pre-1978) OCt. Housing for Older Persons OR. Rezoning OS. Lease Purchase/ Lease Option O T. Pre-Closing Occupancy 0U. Post-Closing Occupancy 0 V. Sale of Buyer's Property 0 W. Back-up Contract 0 X. Kick-out Clause DY. Seller's Attorney Approval 0 Z. Buyer's Attorney Approval 0 AA. Licensee Property Interest O BB. Binding Arbitration sea COUNTER-DEFER/REJECTION 65.8 0 Seller counters Buyer's offer (to accept the counter-offer, Buyer must sign or initial the counter-offered terms and as deliver a copy of the acceptance to Seller). say DI Seller rejects Buyer's offer. 587 MS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE see ADVICE OF AN ATTORNEY PRIOR TO SIGNING. sso THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 690 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 591 and conditions in this Contact should be accepted by the parties In a particular transaction. Terms and conditions Buyer's Initials Florldalloalto 18-4 Rev. W15 02015 Florida Reakorse and The florala Bar. All nghts reserved. Pitthxd Nth 4r-wineby maw* 19510 Ron Ido Raia flaw. brchorl 49325 Ifftiliacal Page 11 of 12 Sellers Initials _ 124 Parc Monceau EFTA00604402 ss2 should be negoSted based upon the respective interests, objectives and bargaining positions of all interested 503 persons. ma AN ASTERISK (1 FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO eas BE COMPLETED. sae ser Buyer: V 598 Donna Ward Date: ear Buyer eoo soy Seller: Date: 602 124 Parc Monceau LTC tor Seller: Date: 504 am Buyer's address for purposes of notice Ear 80T 608' Seller's address for purposes of notice sos BROKER: Listing and Cooperating Brokers, if any, named below (collectively, "Broker), are the only Brokers entitled mo to compensation in connection with this Contract: Instruction to Closing Agent: Seller and Buyer direct Closing Agent en to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage agreements with the 612 parties and cooperative agreements between the Brokers, except to the extent Broker has retained such fees from the era escrowed funds. This Contract shall not modify any MLS or other offer of compensation made by Seller or Listing 014 Broker to Cooperating Brokers. sir Lawrence A. Moans 816 Cooperating Sales Associate, if any sir Lawrence A. Moans Associates, Inc. 2.5_% ow Cooperating Broker, If any Kerry Warwick Listing Sales Associate Douglas Elliman Listing Broker Boyerskftde Page 12 of 12 Seifert Initials FlatteReeltorecksideBer-ASIS-4 Rev. WIS 02015 Ronda Realtors° and The Rod* Bar. MI dente reserved. "taws eft mremselmeme lion fl Mk Ron Fe, ties, MOS emeememrsee 1.24 Parc Mona= EFTA00604403 Comprehensive Rider to the Residential Contract For Sale And Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR if initialed by all parties, the clauses below will be incorporated into the Florida ReaHorse/Florida Bar Residential Contract For Sale And Purchase between 124 Parc Monceau LLC (SELLER) and Donna Ward (BUYER) concerning the Property described as e Buyer's IMO Seller's initials P. LEAD-BASED PAINT DISCLOSURE (Pre-1978 Housing) Lead-Based Paint Warning Statement 'Every purchaser of any Interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced fntelllgence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspection in the seller's possession and notify the buyer of any known lead-based paint hazards. A risk assessment or Inspection for possible lead-based paint hazards Is recommended prior to purchase' Seller's Disclosure (INITIAL) (a) Presence of lead-based paint or lead-based paint hazards (CHECK ONE BELOW): El Known lead-based paint or lead-based paint hazards are ocesent in the housing. El Seller has no knowledge of lead-based paint or lead-based paint hazards in the housing. (b) Records and reports available to the Seller (CHECK ONE BELOW): 0 Seller has provided the Buyer with all available records and reports pertaining to lead-based paint or lead-based paint hazards in the housing. Lbt documents: K Seller has no reports or records pertaining to lead-based paint or lead-based paint hazards in the housing. Buyers Acknowledgement (INrTIAL) (c) Buyer has received copies of all information listed above. S- v- (d) Buyer has received the pamphlet Protect Your Family from Lead in Your Home. Pe' (o) Buyer has (CHECK ONE BELOW): Cgl Received a 10-day opportunity (or other mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based paint or lead-based paint hazards; or El Waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint or lead-based paint hazards. Licensee's Acknowledgement (INITIAL) (f) Licensee has informed the Seller of the Seller's obligations under 42 U.S.C. 4852(d) and is aware of Licensee's responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, to_thebest of their knowledge, that inf on they have provided is true and accurate. () 7 - SELLERT24 Parc M.oncoau LLC Date BUYER Donna ate SELLER Date BUYER Date Listing Licensee Date Selling licensee Date Kerry Warwick Lawrence A. Moens My person or persons who knowingly violate the provisions of the Residential Lead-Based Paint Hazard Reduction Act of 1992 may be sub(ect to civil and criminal penalties and potential triple damages In a private civil lawsuit. Page 1 of 1 P. LEAD-BASED PAINT DISCLOSURE CR-4 Rev. 9/15 O2015 Florida Realtora and The Florida Bar. AB rights rercived. Lama A. Moms Amocleiss,lea.,US Sates Mom hko limb, n.33O0 Mae Pax: (PG1)6,) 47PI 124 Merai Incur- *Wed Rutted wit' *Fame by 2:02cix I eCP)Ft`Itar /*Po raP,I, VY, wr, Whican 48(48 )330:4412M EFTA00604404 ESCROW AGREEMENT ON INTEREST BEARING ACCOUNTS This agreement supplements and is part of the Contract for Sale and Purchase between Buyer: Donna Ward Seller: 124 Parc Monceau LLC Property: It is agreed between the parties that all deposits made on this account for the above Contract shall be deposited in escrow by Lawrence A. Moens Associates, Inc. in a federally insured depository: Sabadell Bank & Trust 1. It is further agreed that, at closing all accrued interest will be credited to the Buyer. 2. Should any contingency contained in the Contract NOT be resolved and deposits thereby returned to the Buyer, accrued interest will be paid to the Buyer. 3. Should Buyer fail to perform and the deposits are retained, accrued interest will be paid to Seller in accordance with the terms .of the Contract 4. Should the Seller fail to perform and the deposits are returned to the Buyer, accrued interest will be paid to the Buyer. 5. The Parties to this agreement recognize that the monies are to be placed in such an account until closing. Escrow agent shall not be responsible for any interest prior to the time the check(s) clears or for any penalty for early withdrawal. 6. Seller warrants, which warranty shall survive the closing, that Seller is not a foreign person, entity or otherwise subject to Federal laws which would require withholding for tax purposes at closing. Buyer: Seller: EFTA00604405 DONNA A WARD to:ft q 971,e—t_ 0461/4:c yan__ VIM Foga WON Adds welibruarn 317 Auf /0 doo Laws in Lei. EFTA00604406 iiiiiIIS ,A; //j ciatdY : tor V q 9 7/diet - as.erc, zwaca r t7 0 &co _ -w a - /7,10 , ^-4-0••---7 UCIberS th aa 317 EFTA00604407