EFTA00305920.pdf

ese 1• 2' a 4' 6' 8 7' 8 to tr 13' 14' 16" 16 17 18 19' 2' 21' 22 23' 24' 25' 26' 27' eat 2,:r so 1. SALE AND PURCHASE: and TiV44--(4173 agree to se Address: Legal Description: ‘tei Ftutestes County: At-AN ‘asenier- Tatag together with all existing improvements and attached items, including fixtures, (wilt-In e map( app lances i but not imited to range(S). refrigeratorfe), dishwasher(s), washer(s), and dryer(s), (e) ceiling fans (if left blank, all ceiling fans), fight extures, attached wee-to-wall carpeting, lode, draperies and other window treatments as of Effective Date. The only other items included in the purchase are: Pric /41lrki 4 I fa Meta& AT h-LOO 1V1,9 VeD fadaii S PUSS fl 6- Mat. ("Seller") -• ("Buyer) The following attached Items are excluded from the purchase: The real and personal property described abate es indicted in the purchase is referred to as the 'Property" Personal property fisted in th Contract is Included In the purchase price, has no contributory value and Is being left for Seller's convenience. 2. PURCHASE PRICE: (a) $ (7)7) . 03) $ 44 "/ b132). (c) 84c; to • "' $ oil mn g)t- PRICE AND FINANCING S q .10O 7 8 -67) . x is- payable by Buyer In U.S. currency as follows: Dews* jeceived (checks are subject to clearance) on In 1 is,)n 1/4 &PS ,S.1O1.OSS for delivery to by (Escrow Agent, Sena are Named Comm?" (ACtifESS of Esacw Agent) ratiatly) iffs..4) Ago ,» 14M-249-1-0n.I (Ftione # of Esaow ken° hZaf e 2,1 — ;ta, I Additional deposit to be delivered to Escrow Agent by Ruani or _days from Effective Date. (10 days if left blank) Total foaming (see Paragraph 3 below) (express as a dollar amount or percentage) Other. Balance to close (not including Buyer's dosing costs, prepaid items and prorations). AI funds pad at dosing must be paid by locally drawn cad-rer's check, official bank check, or wired funds. ar 3.111eANCING: (Ched< as met LI (a) Buyer will pay cash for the Property with no financrig contingency az. X(b) Buyer wil apply for new nventional O FHA O VA financhg specified in paragraph 2(c) at the prevaling Interest rate and ss• loan costs based on Buyer's crecitworthIness (the 'inancing')) within days from Effective Date (5 days If left blare) and 34 provide Seller with either a written Financing commitment or approval letter ('Commitment') or written notice that Buyer's unable to w obtain a Commitment within days from Effective Date (the sailer of 30 days alter the Effective Date or 5 days prior to Closing 36 Date if left blank) ("Commitment Period"). Buyer wit keep Seller and Broker fully intoned about loan application status, progress 37 and Commitment Issues and authorizes the mortgage broker and lender to disclose all such information to Seller and Broker. If, 39 after using diligence and good faith, Buyer Is unable to provide the Commitment and provides Seller with written notice that Buyer is re unable to obtain a Commitment Wallin the Commitment Period, either party may cancel this Contract and Buyer's deposit will be 40 refunded. Buyer's faiure to provide Seiler with written notice that Buyer is unable to obtain a Commitment within the Continent 41 Period will resat in forfeiture of Buyer's deposit(s). Once Buyer provides the Commitment to Seller, the financing contingency is 42 waived and Seller wit be entitled to retain the deposits if the transaction does not dose by the Closing Date unless (1) the Property 43 appraises below the Puithase price and either the pates cannot agree on a new purchase price or Buyer elects not to proceed, (2) 44 the property related °mations of the Commitment have not been met (except when such conditions we waived by other provisions 45 of this Contract), or (3) another provision of this Contract provides for cancellation. 46 CLOSING 47 4. CLOSING DATE; OCCUPANCY: Unless the Closing Date is specific* extended by the Buyer and Seder or by any other provision in 48 this Corned, the Closing Date shed preval over all other tine periods inducing, but not lintel to, inspection and tinnily periods, lit 49' Contract will be closed on IS SEW (DO II ("Closing Date) at the time estate:shed by the dosing agent, by with tine Seller so we (a) have removed al personal items and trash from the Property and swept the Property clean end (b) delver the deed, occupancy St and possession, along with all keys, garage door openers and access codes, to Buyer. If on Goring Date ersuranoe undenvitieg is 62 suspended, Buyer may postpone dosing up after the Insurance suspension Is lifted. If this transaction does not close for any 53 reason, Buyer will immediately return al eklence, surveys, assodation documents and other items. 5it Buyer OVA ( ) and Seller ( I acknowledge receipt of a copy of this page, which is Page 1 of 8 Pages. FAR-9 4107 0 2037 Florida Assocle5on of N Rights Roseved This software la licensed to (Joanne S Roalty Assoc. Luxury Partners) 'CZ* • EFTA00305920 55 S. CLOSING PROCEDURE; COSTS: Closing will take place in the county where the Property is located and may be conducted by 56 mail or electronic means. If title insurance insures Buyer for title defects arising between the title binder effective date and recording 57 of Buyer's deed, dosing agent will disburse at closing the net sale proceeds to Seller and brokerage fees to Broker as per 58 Paragraph 19. In addition to other expenses provided in this Contract, Seller end Buyer will pay the costs indicated below. 59 (a) Seller Costs: so Taxes and surtaxes on the deed 61 Recording fees for documents needed to cure title 62* Other. • Seller will pay up to $ or % (1.5% If left blank) of the purchase price for repairs to warranted items ("Repair • Limit"); and up to $ or % (1.5% if loft blank) of the purchase price for wood-destroying organism treatment 85* and repairs ("WOO Repair Limit"); and up to $ or % (1.5% if left blank) of the purchase price for costs se associated with dosing out open permits and obtaining required permits for unpermitted existing improvements ("Permit Limit"). 67 (b) Buyer Costs: es Taxes and recording fees on notes and mortgages 69 Recording fees on the deed and financing statements 70 Loan expenses 71 Lender's title policy 72 Inspections 73 Survey 74 Flood insurance, homeowner insurance, hazard insurance 75' Other 76 (c Tide Evidence and Insurance: Check (1) or (2): 77' (1) The title evidence will be a Paragraph 10(aX1) owner's title insurance commitment. Seller will select the title agent 78' and will pay for the owner's title policy, search, examination and related charges or O Buyer will select the title agent and pay 79' for the owner's title policy, search, examination and related charges or O Buyer will select the title agent and Seller will pay 80 for the owner's title policy, search, examination and related charges. 81' El (2) Seller will provide an abstract as specified in Paragraph 10(a)(2) as title evidence. O Seller O Buyer will pay for the 82 owner's title policy, and select the title agent. Seller will pay fees for title searches prior to dosing, including tax search and 83 lien search fees, and Buyer will pay fees for title searches after closing (if any), title examination fees and closing fees. 84 (d) Prorations: The following items will be made current (if applicable) and prorated as of the day before Closing Date: real 85 estate taxes, interest, bonds, assessments, association fees, insurance, rents and other current expenses and revenues of the 86 Property. If taxes, and assessments for the current year cannot be determined. taxes shall be prorated on the basis of taxes for 87 the preceding year as of the day before Closing Date and shall be computed and readjusted when the current taxes are 88 determined with adjustment for exemptions and improvements. If there are completed improvements on the Property by so January 1 of the year of the Closing Date, which improvements were not in existence on January 1 of the prior year, taxes shall 90 be prorated based on the prior year's mintage and at an equitable assessment to be agreed upon by the parties prior to Closing at Date, falling which, request will be made to the County Properly Appraiser for an Informal assessment taking into consideration 92 available exemptions. If the County Property Appraiser is unable or unwilling to perform an informal assessment prior to Closing 03 Date, Buyer and Seller will split the cost of a private appraiser to perform an assessment prior to Closing Date. Nothing in this 94 paragraph shall act to extend the Closing Date. This provision shall survive dosing. es (e) Special Assesment by Public Body: Regarding special assessments imposed by a public body, Seller will pay () the full 06 amount of liens that are certified, confirmed and ratified before dosing and (ii) the amount of the last estimate of the assessment 87 if an improvement is substantially completed as of Effective Date but has not resulted in a lien before dosing, and Buyer will pay oir all other amounts. If special assessments may be paid in installments O Buyer likg Seller (if left blank, Buyer) shall pay is installments due after dosing. If Seller is checked, Seller will pay the assessment in full prior to or at the time of closing, Public too body does not include a Homeowner Association or Condominium Association. lot (f)Tax Withholding: Buyer and Seller will comply with the Foreign Investment in Real Property Tax Act, which may require 102 Seller to provide additional cash at dosing if Seller is a -foreign person* as defined by federal law. 103' (g) Homo Warranty: O Buyer O Seller ag N/A will pay for a home warranty plan issued by at toe cost not to exceed $ . A home warranty plan provides for repair or replacement of many of a home's mechanical um systems and major built-in appliances in the event of breakdown due to normal wear and tear during the agreement period. toe PROPERTY CONDITION 107' 6. INSPECTION PERIODS: Buyer will complete the inspections referenced in Paragraphs 7 and 8(a)(2) by toe' (the earlier of 10 days after the Effective Date or five days prior to Closing Date if left blank) ('Inspection Period'); ter the wood-destroying organism inspection by (at least five days prior to dosing, if left 110 blank); and the walk-through Inspection on the day before Closing Date or any other time agreeable to the parties; and the tt r survey referenced in Paragraph 10(c) by (atiearfivedays prior to closing If left blank). 112' Buyer (VI) ( ) and Seller) ( ) acknowledge receipt of a copy of this page, which is Page 2 of 8 Pages. FAROS Revelf07 02007 Florida Associate ACTORS" Al Rights Reserved et fnmiginuilirtitv EFTA00305921 113 7. REAL PROPERTY DISCLOSURES: Seller represents that Seller does not know of any facts that materially affect the value 114 of the Property, including but not limited to violations of governmental laws, rules and regulations, other than those that Buyer 115 can readily observe or that are known by or have been disclosed to Buyer. 116 (a) Energy Efficiency: Buyer acknowledges receipt of the energy- efficiency information brochure required by Section 553.996, 117 Florida Statutes. tie (b) Radon Gas: Radon is a naturally occurring radioactive gas that, when It has accumulated in a building In sufficient tta quantities. may present health risks to persons who are exposed to it overtime. Levels of radon that exceed federal and 120 state guidelines have been found in buildings In Florida. Additional Information regarding radon and radon testing may be 121 obtained from your county public health unit. Buyer may, within the Inspection Period, have an appropriately licensed person 122 test the Property for radon. II the radon level exceeds acceptable EPA standards. Seller may choose to reduce the radon in level to an acceptable EPA level, failing which either party may cancel this Contract. 124 (e) Flood Zone: Buyer is advised to verity by survey, with the lender and with appropriate government agencies which flood 125 zone the Property is in, whether flood insurance is required and what restrictions apply to improving the Property and rebuilding 128 in the event of casualty. If the Property is in a Special Flood Hazard Area or Coastal High Hazard Area and the buildings are built 127 below the minimum flood elevation, Buyer may cancel this Contract by delivering written notice to Seller within 20 days from 128 Effective Date, falling which Buyer accepts the existing elevation of the buildings and zone designation of the Property. 129 (d) Homeowners' Association: If membership in a homeowners' association Is mandatory, an association disclosure 190 summary is attached and incorporated into this Contract. 131 BUYER SHOULD NOT SIGN THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE DISCLOSURE SUMMARY. 132 (e) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURENT PROPERTY 133 TAXES AS THE AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT 194 TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE 135 PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING 136 VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR FURTHER INFORMATION. 137 (1) Mold: Moll is part of the natural environment that, when accumulated In sufficient quantities, may present health risks 138 susceptible persons. For more infomiation, contact the county indoor air quality specialist or other appropriate professional. isre (g) Coastal Construction Control Line: If any part of the Property lies seaward of the coastal construction control line as 140 defined in Section 161.053 of the Florida Statutes, Seller shall provide Buyer with an affidavit or survey as required by law 141 delineating the line's location on the Property, unless Buyer waives this requirement in writing. The Property being purchased 142 may be subject to coastal erosion and to federal, state, or local regulations that govern coastal properly, including delineation 143 of the coastal construction control line, rigid coastal protection structures, beach nourishment, and the protection of marine 144 turtles. Additional information can be obtained from the Florida Department of Environmental Protection, including whether 145 there are significant erosion conditions associated with the shoreline of the Property being purchased. 145' K Buyer waives the right to receive a CCCL affidavit or survey. 147 8. MAINTENANCE, INSPECTIONS AND REPAIR: Seller will keep the Property in the same condition from Effective Date until 148 closing, except for normal wear and tear ('Maintenance Requirement') and repairs required by this Contract. Seller will provide 149 access and utilities for Buyer's inspections. Buyer will repair all damages to the Property resulting from the inspections, 150 return the Property to its pre-inspection condition and provide Seller with paid receipts for all work done on Property upon Its 151 completion. If Seller is unable to complete required repairs or treatments or meet the Maintenance Requirement prior to 162 closing, Seller will give Buyer a credit at closing for the cost of the repairs and maintenance Seller was obligated to perform. At 153 closing, Seller wil assign all assignable repair and treatment contracts to Buyer and provide Buyer with paid receipts for all 164 work done on the Property pursuant to the terms of this Contract.. At dosing, Seller will provide Buyer with any written 155 documentation that all open permits have been closed out and that Seller has obtained required permits for improvements to 150 the Property. 157 (a) Warranty, Inspections and Repair: 158 (1) Warranty: Seller warrants that non-leased major appliances and heating, cooling, mechanical, electrical, security, 169 sprinkler, septic, plumbing systems, seawall, dock and pool equipment, if any, are and will be maintained In working 180 condition until dosing; that the structures (including roofs, doors and windows) and pool, if any, are structurally sound lot and watertight; and that torn or missing screens and missing roof tiles wit be repaired or replaced. Seller warrants that 162 all open permits will be dosed out and that Seller will obtain any required permits for improvements to the Property tea prior to Closing Date. Seller does not warrant and is not required to repair cosmetic conditions, unless the cosmetic 164 condition resulted from a defect in a warranted item. Seller is not obligated to bring any item into compliance with 165 existing building code regulations unless necessary to repair a warranted Item. 'Working condition' means operating In 1 es the manner in which the item was designed to operate and 'cosmetic conditions" means aesthetic imperfections that 107 do not affect the working condition of the item, Including pitted marcite; tears, worn spots and discoloration of floor 108 coverings/wallpapers/window treatments: nail holes, scratches, dents, scrapes, chips, and caulking in bathroom 169 ceilingAvallstflooring/tilefixtures/mirrors: cracked roof tiles; curling or worn shingles; and minor cracks in floor 170 files/windows/driveways/sidewalks/pool decks/garage and patio floors. 171 (2) Professional Inspection: Buyer may, at Buyer's expense, have warranted items inspected by a person who 172 specializes in and holds an occupational license (if required by law) to conduct home inspections or who holds a Florida 173 license to repair and maintain the items inspected ('professional inspector"). Buyer must, within five days from the end of the 174 Inspection Period, deliver written notice of any items that are not in the condition warranted and a copy of the portion of in* Buyer ( ) and Seller ) ) acknowledge receipt of a copy of Uils page, whidt Is Page 3 of 8 Pages. FAR-9 Rev.4r07 C 2007 Freida AsseeraSo ALTORS. All Rights Reserved ft fnrmslirrinlinitv EFTA00305922 176 inspectors written report dealing with such items to Seller. If Buyer fails to dancer timely written notice, Buyer waives 177 Seller's warranty and accepts the items listed in subparagraph (a) in their as is conditions, except that Seller must meet 178 the maintenance requirement 179 (3) Repair: Seller will obtain repair estimates and is obligated only to make repairs necessary to bring warranted items 180 into the condition warranted, up to the Repair Limit. Seller may, within five days from receipt of Buyer's notice of items ter that are not in the condition warranted, have a second inspection made by a professional Inspector and will report 182 repair estimates to Buyer. If the first and second inspection reports differ and the parties cannot resolve the differences, 183 Buyer and Seller together will choose, and equally split the cost of, a third inspector, whose written report will be 184 binding on the parties. If the cost to repair warranted items equals or is less than the Repair Limit, Seller will have the 185 repairs made in a workmanlike manner by an appropriately licensed person. If the cost to repair warranted items 186 exceeds the Repair Limit, either party may cancel this Contract unless either party pays the excess or Buyer ter designates which repairs to make at a total cost to Seller not exceeding the Repair Limit and accepts the balance of 188 the Property in its "as is' condition. 189 (4) Permits: Seller shall dose out any open permits and remedy any violation of any governmental entity, including 190 but not limited to, obtaining any required permits for improvements to the Property, up to the Permit Limit, and with final 191 inspections completed no later than five days prior to Closing Date. If final inspections cannot be performed due to delays 192 by the governmental entity, Closing Date shall be extended for up to ten days to complete such final inspections, failing 103 which, either party may cancel this Contract and Buyer's deposit shall be refunded. If the cost to dose out open 194 permits or to remedy any violation of any governmental entity exceeds the Permit Limit, either party may cancel the 195 Contract unless either party pays the excess or Buyer accepts the Property in its as is' condition and Seller credits 196 Buyer at dosing the amount of the Permit Limit. 197 (b) Wood-Destroying Organisms: "Wood-destroying organism' means arthropod or plant life, including termites, powder-post 108 beetles, oldhouse borers and wood-decaying fungi, that damages or infests seasoned wood in a structure, exduding fences. 199 Buyer may, Buyer's expense, have the Property inspected by a Florida-licensed pest control business to determine the 200 existence of past or present wood-destroying organism infestation and damage caused by Infestation. If the Inspector finds 201 evidence of infestation or damage. Buyer will deliver a copy of the inspectors written report to Seller within five days from the date 202 of the inspection. If Seller previously treated the Properly for the type of wood-destroying organisms found, Seller does not have 203 to treat the Property again if Ii) there is no visible live infestation, and (ii) Seller transfers to Buyer at closing a anent full treatment 204 warranty for the type of wood-destroying organisms found. Otherwise, Seller will have five days from receipt of the Inspector's 205 report to have reported damage estimated by a licensed building or general contractor and corrective treatment estimated by a 208 licensed pest control business. Seller will have treatments and repairs made by an appropriately licensed person at Seller's 207 expense up to the WDO Repair Limit. If the cost to treat and repair the Property exceeds the WDO Repair Limit, either party may 208 pay the excess, failing which either party may cancel this Contract by written notice to the other. If Buyer (ails to timely deliver the 209 inspector's written report Buyer accepts the Property as is with regard to wood-destroying organism infestation and damage, 210 subject to the maintenance requirement. 211 (c)Walk-through InspectIon/Reinspection: Buyer, and/or Buyer's representative, may walk through the Property solely 212 to verify that Seller has made repairs required by this Contract, has met the Maintenance Requirement and has met 213 contractual obligations. If Buyer, and/or Buyer's representative, fails to conduct this inspection, Seller's repair obligations 214 and Maintenance Requirement will be deemed 11.116060. 215 9. RISK OF LOSS: If any portion of the Property is damaged by fire or other casualty before closing and can be restored by the 216 Closing Date or within 45 days after the Closing Date to substantially the same condition as it was on Effective Date, Seller, 217 will, at Seller's expense, restore the Property and deliver written notice to Buyer that Seller has completed the restoration, and 218 the parties will dose the transaction on the later of: (1) Closing Date; or, (2) 10 days after Buyer's receipt of Seller's notice. 219 Seller will not be obligated to replace trees. If the restoration cannot be completed in time, Buyer may cancel this Contract 220 and Buyer's deposit shall be refunded, or Buyer may accept the Property "as is', and Seller will credit the deductible and 221 assign the insurance proceeds, if any, to Buyer at dosing in such amounts as are @attributable to the Property and (ii) not yet 222 expended In restoring the Property to the same condition as it was on Effective Date. 223 TITLE 224 10. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal representative or 225 guardian deed as appropriate to Seller's status. 226 (a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller in accordance with 227 current title standards adopted by the Florida Bar, subject only to the following title exceptions, none of which prevent residential 228 use of the Property: covenants, easements and restrictions of record: matters of plat existing zoning and government regulations; 229 oil, gas and mineral rights of record if there is no right of entry; current taxes: mortgages that Buyer will assume, and 230 encumbrances that Seller will discharge at or before dosing. Seller will, at least two days prior to dosing, deliver to Buyer Seller's 231 choice of one of the following types of title evidence, which must be generally accepted in the county where the Property is located 232 (specify in Paragraph 5(c) the selected type). Seller will use option (1) in Palm Beach County and option (2) in Miami-Dade County. 233 (1) A title Insurance commitment Issued by a Florida-licensed title insurer in the amount of the purchase price and 234 subject only to title exceptions set forth in this Contract. 235 (2) An existing abstract of title from a reputable and existing abstract firm (if firm Is not existing, then abstract must be 238 certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to the 237' Buyer (1 BIV ) ( form ) and Seller ( ) acknowledge receipt of a copy of this page, which is Page 4 of 8 Pages. FAR-9 Rev /07 O2007 Florin Assoclato LTORse MRights Resolved cirrinlirilv EFTA00305923 23e Property recorded in the public records of the county where the Property is located and certified to Effective Date. 23P However, if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed 240 insurer as a base for reissuance of coverage. Seller will pay for copies of all policy exceptions and an update in a format 241 acceptable to Buyer's dosing agent from the policy effective date and certified to Buyer or Buyer's dosing agent, 242 together with copies of all documents recited in the prior policy and in the update. If a prior policy is not available to 243 Seller then (1) above will be the title evidence. Title evidence will be delivered no later than 10 days before Closing Date. 244 (b) Title Examination: Buyer will examine the title evidence and deliver written evidence to Seller, within five days from receipt of 245 title evidence but no later than Closing Date, of any defects that make the title unmarketable. Seller will have 30 days from 248 receipt of Buyer's notice of defects ('Curative Period') to cure the defects at Seller's expense. If Seller cures the defects 247 within the Curative Period, Seller will deliver written notice to Buyer and the parties will close the transaction on Closing 248 Date or within 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the 240 defects within the Curative Period, Seller will deliver written notice to Buyer and Buyer will, within 10 days from receipt of 250 Seller's notice, either cancel this Contract or accept title with existing defects and dose the transaction. 251 (c) Survey: Buyer may, al Buyer's expense, have the Property surveyed and deliver written notice to Seller, within five days from 252 receipt of survey but no later than dosing, of any encroachments on the Property, encroachments by the Property's improvements 253 on other lands or deed restriction or zoning violations. Any such encroachment or violation will be treated in the same manner as a 264 title defect and Buyer's and Seller's obligations will be determined in accordance with subparagraph (b) above. 255 MISCELLANEOUS 256 11. EFFECTIVE DATE;TIME; FORCE MAJEURE: 257 (a) Effective Date: The 'Effective Date" of this Contract is the date on which the last of the parties initials or signs and 258 delivers the final offer or counteroffer. Time is of the essence for all provisions of this Contract 259 (b) Time: All time periods will be computed in business days (a"business day" is every calendar day except Saturday, Sunday 280 and national legal holidays). If any deadline falls on a Saturday, Sunday or national legal holiday, performance wit be due the 261 next business day. All time periods will end at 5:00 p. m. local time (meaning in the county where the Property is 262 located) of the appropriate day. 263 (c) Force Majeure: Buyer or Seller, shall not be required to perform any obligation under this Contract or be liable to 264 each other for damages so long as the performance or non-performance of the obligation is delayed, caused or prevented 265 by an act of God or force majeure. An "act of God' or "force majeure is defined as hurricanes, earthquakes, floods, fire, 268 unusual transportation delays, wars, insurrections and any other cause not reasonably walling the control of the Buyer or 267 Seller, and which by the exercise of due diligence the non-performing party is unable in whole or in part to prevent or 288 overtime. All time periods, including Closing Date, will be extended (not to exceed 30 days) for the period that the force 269 majeure or act of God is in place. In the event that such "act of God' or "force majeure" event continues beyond the 30 270 days in this sub-paragraph, either party may cancel the Contract by delivering written notice to the other and Buyer's 271 deposit shall be refunded. 272 12. NOTICES: All notices shaft be in writing and will be delivered to the parties and Broker by mail, personal delivery or electronic 273 media. Except for the notices required by Paragraph 3 of this Contract, Buyer's failure to deliver timely written notice to 274 Seller, when such notice is required by this Contract, regarding any contingencies will render that contingency null and 275 void and the Contract will be construed as if the contingency did not exist. Any notice, document or item delivered to 276 or received by an attorney or licensee (Including a transaction broker) representing a party will be as effective as if 277 delivered to or by that party. 278 13. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage 279 agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract. 2ao Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound. 2a1 Signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated electronically 282 or on paper will be acceptable for ail purposes, including delivery, and will be binding. Handwritten or typewritten terms 283 inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid or 284 unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller will use diligence and good faith in 285 performing all obligations under this Contract. This Contract will not be recorded in any public records. zee 14. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent The terms 287 "Buyer," "Seller," and 'Broker may be singular or plural. This Contract Is binding on the heirs, administrators, executors, 288 personal representatives and assigns (if permitted) of Buyer, Seller and Broker. 289 DEFAULT AND DISPUTE RESOLUTION no 15. DEFAULT:(a) Seller Default if for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller 291 fails, refuses or neglects to perform this Contract, Buyer may choose to receive a return of Buyer's deposit without waiving the right to 292 seek damages or to seek specific performance as per Paragraph 16. Seller will also be liable to Broker for the full amount of the 293 brokerage fee. (b) Buyer Default: If Buyer fails to perform this Contract within the time specified, including timely payment of all deposits, 294 Seller may choose to retain and collect all deposits paid and agreed to be paid as liquidated damages or to seek specific performance as 295* Buyer ) ( ) and Seller ( acknowledge receipt of a copy of this page, which is Page 5 of 8 Pages. FAR-9 RevA107 C 2C07 Flo8da Ass8ciabon t TORS° Ai Right, Resented R fnrmsimnlinitv EFTA00305924 296 per Paragraph 16; and Broker will, upon demand, receive 50% of all deposits paid and agreed to be paid (to be split equally among 207 Broker) up to the full amount of the brokerage fee. 298 16. DISPUTE RESOLUTION: This Contract will be construed under Florida law. All controversies, claims and other matters in 209 question arising out of or relating to this transaction or this Contract or its breach will be settled as follows: 300 (a) Disputes concerning entitlement to deposits made and agreed to be made: Buyer and Seller will have 30 days from the 301 date conflicting demands are made to attempt to resolve the dispute through mediation. If that fah, Escrow Agent will 302 submit the dispute, if so required by Florida law, to Escrow Agent's choice of arbitration, a Florida court or the Florida Real 303 Estate Commission (FREC). Buyer and Seller will be bound by any resulting award, judgment or order. A broker's 304 obligation under Chapter 475, FS and the FREC rules to timely notify the FREC of an escrow dispute and timely resolve the 305 escrow dispute through mediation, arbitration, interpleader or an escrow disbursement order, if the broker so chooses, 306 applies to brokers only and does not apply to title companies, attorneys or other escrow companies. 307 (b) All other disputes: Buyer and Seller will have 30 days from the date a dispute arises between them to attempt to sea resolve the matter through mediation, failing which the parties will resolve the dispute through neutral binding arbitration 309 in the county where the Property is located. The arbitrator may not alter the Contract terms or award any remedy not 310 provided for in this Contract. The award will be based on the greater weight of the evidence and will state findings of fact 311 and the contractual authority on which it is based. If the parties agree to use discovery, it will be in accordance with the 312 Florida Rules of Civil Procedure and the arbitrator will resolve all discovery-related disputes. Any disputes with a real 313 estate licensee or firm named in Paragraph 19 will be submitted to arbitration only if the licensee's broker consents In 314 writing to become a party to the proceeding. This clause will survive closing. 315 (c) Mediation and Arbitration; Expenses: 'Mediation* is a process in which parties attempt to resolve a dispute by me submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to impose a 317 settlement on the parties. Mediation will be in accordance with the rules of the American Arbitration Association (AAA') or sts other mediator agreed on by the parties. The parties will equally divide the mediation fee, if any. Arbitration` is a process in so which the parties resolve a dispute by a hearing before a neutral person who decides the matter and whose decision is 320 binding on the parties. Arbitration will be in accordance with the rules of the AM or other arbitrator agreed on by the 321 parties. Each party to any arbitration will pay Its own fees, costs and expenses, including attorneys' fees, and will equally 322 split the arbitrators fees and administrative fees of arbitration. 323 ESCROW AGENT AND BROKER 324 17. ESCROW AGENT: Buyer and Seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow and, 325 subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this Contract, 328 including disbursing brokerage fees. The parties agree that Escrow Agent will not be liable to any person for misdelivery of escrowed 327 items to Buyer or Seller, unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence. If Escrow 328 Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover 329 reasonable attorneys' fees and costs to be paid from the escrowed funds or equivalent and charged and awarded as court costs in 330 favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent consents to arbitrate. 331 18. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seiler to verify all facts and representations that are $32 important to them and to consult an appropriate professional for legal advice (for example, interpreting contracts, determining the 333 effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, the effect of property lying 334 partially or totally seaward of the coastal construction control line, etc.) and for tax, property condition, environmental and other 335 specialized advice. Buyer acknowledges that Broker does not reside in the Property and that all representations (oral, written or 338 otherwise) by Broker are based on Seller representations or public records..Buyer agrees to rely solely on Seller, professional 337 inspectors and governmental agencies for verification of the Property condition, square footage and facts that materially affect 338 Property value. Buyer and Seller respectively will pay all costs and expenses, including reasonable attorneys' fees at all levels, no Incurred by Broker and Broker's officers, directors, agents and employees In connection with or arising from Buyers or Seller's 340 misstatement or failure to perform contractual obligations. Buyer and Seller hold harmless and release Broker and Broker's officers, 341 directors, agents and employees from all liability for loss or damage based on (1) Buyer's or Seller's misstatement or failure to 342 perform contractual obligations; (2) Broker's performance, at Buyer's and/or Seller's request, of any task beyond the scope of 343 services regulated by Chapter 475, F.S., as amended. including Brokers referral, recommendation or retention of any vendor, (3) 344 products or services provided by any vendor; and (4) expenses incurred by any vendor. Buyer and Seller each assume full 345 responsibility for selecting and compensating their respective vendors. This paragraph will not relieve Broker of statutory obligations. 346 For purposes of this paragraph, Broker will be treated as a party to this Contract. This paragraph will survive closing. 347 19. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as 'Broker?' instruction to Closing 348 Agent: Seller and Buyer direct dosing agent to disburse at closing the full amount of the brokerage fees as specified in separate 349 brokerage agreements with the parties and cooperative agreements between the brokers, except to the extent Broker has 350 retained such fees from the escrowed funds. In the absence of such brokerage agreements, closing agent will disburse 351 brokerage fees as Indicated below. This paragraph will not be used to modify any MLS or other offer of compensation made by 352 Seller or listing broker to cooperating brokers. 353' Buyer f V) ) L ) and Seller admowledge receipt of a copy of this page, which Is Page 6 of 8 Pages. FAR.9 Rev.007 O2007 Florida Associate T0RS° AI RiOts Reserved st ffirrncimnlicitv EFTA00305925 354' th /0117kICS 355 Sang Saws °bat kens. No. Seeing F forwrag7ittRi of rcha Price) 444eSee Pai. a tb 357 Sales Associate/License No. LlstOg Finn/Breketege Fee: a or % of Purchase 358 ADDENDA AND ADDITIONAL TERMS 359 20. ADDENDA*. The following additional terms are included in the attached addenda and incorporated into this Contract (check if mg applicable); 361' A. Condo. Assn. O H. As Is w/Right to Inspect .2. O O. Interest-Bearing Account DV. Prop. Disdosure Stat. aer B. Homeowners' Assn. O I. Inspections O P. Back-up Contract . OW. FIRPTA 363' DC. Seller Financing DI Insulation Disclosure Oil Broker— Pers. Int. in Prop. OX. 1031 Exchange 364. O D. Mort. Assumption OK. Pre-1978 Housing Stmt. (LBP) DR. Rentals O v. Additional Clauses ass- O E. FHA Financing O L. Insurance OS. Sale/Lease of Buyer's Property 366' O F. VA Financing O M. Housing Older Persons O T. Rezoning Mother° CS) Ur D G. New Mort. Rates O N. Lease purchase/Lease option O U. Assignment D Other 368' 21. ADDITIONAL TERMS: 369• 370' 371' 372' 973' 374' 376' 376' 377' 378' 378' 940' 381' 382' 383' 984' 385' 386' 387• 388' 389' 390' 391' 392' 393' 394' 395' 306' 307' 908' 390' 400' 401' 402' 403' 404' 405' 400' 407' 408' 409' Sao( Ir.“1O‘, we givtle,yn&nt 3 st 1/40exa -to it> tier Atfrte. qi-cferthren 410' Buyer ( ) and Seller ) ( ) acknowledge receipt of a copy of this page, which is Page 7 of 8 Pages. FAR-9 Rev.4 707 O2007 Flodda Associaho T0RS* All Rights Reserved R fnrrntimnlinitv EFTA00305926 411 This is intended to be a legally binding contract If not fully understood, seek the advice of an attorney prior to signing. 412 OFFER AND ACCEPTANCE 413' (Check if applicable: O Buyer received a written real property disclosure statement from Seller before making this Offer.) 414' Buyer offers to purchase the Property on thQ above terms and conditions. Unless this Contract is signed by Seller and a copy 41s* delivered to Buyer no later than 416 and Buyer's deposit refunded subject io nds. p. m. on this offer %Ill be revoked 417 COUNTER OFFER/REJECTION 418' Seller counters Buyer's offer (to accept the counter offer, Buyer must sign or initial the counter offered terms and deliver a copy 419 o the acceptance to Seller.) Unless otherwise stated, the time for acceptance of any counteroffers shall be two days from the 420' date the counter is delivered. 0 Sollor rejects Buyer's offer. 421' Date: I ( ~Jn it 422' Buyer: Print name: 42s• Dale: Buyer: 424' Phone: Print name: 425' Fax: Address: 426' E-mail: 42r Date: Seller: 4._/97 Auffe - ..., O ripb thrp_k tii 147eLfi- 428' Print name: c..40aart al 0 . r41214_ Rig relic. 7- 4{,-,441.60.00, 4.4766 30o/ tte.“( FoE 425' Date: Seller. A 7acitiefp ZJ. 14R-G€ 430' Phone: Print name: 431' Fax: Address: 432' E.mai 433' Effective Date: (The date on which the last party si ned or initialed and delivered the final offer or counteroffer.) 434' Buyer ) ( ) and Seller ( ) acknowledge receipt of a copy of this page, which is Page 8 of 8 Pages. The Florida Association of REALT0RS` and total elan of REALTORS make no repiesentalkn as to the legal validly or adequacy ol any stovisko at this loan In any spectre transaction. This slandardlzed fo ould bo used h complex transecUons or with extensive riders or additions... ants form Is avail/die for use by the entire real estate Industry and is not intended I dentify user as a REALTOR. REALTOR Is a regicered collective membership math that may be used only by real estate licensees who are members of the National Association of REALTORS end utto subscribe to Its Code at Ethics. The-copyright laws of the Linked Slates (17 U.S. Code) kale the Unauthcitted reproduction of blank forms by any moans hauling puke` or computerized !onus. FAR-S Rev.4/07 O 21:07 Florida Assodalion of REALTORS° Al Rights Reserved It fnrm6mnlinitv EFTA00305927 Mold Inspection Addendum to Contract FLORIDA ASSOCiA 10% OF REALTORS'-) The following provisions are made a part of the Contract for Sale and Purchase or Residential Sale and Purchase Contract between EiSzt k jae.fr ze: (Seller) and 1>treanJ____ti V'Mr l yer) concerning the Property located at 1. Buyer, at Buyer's expense, may have a qualified profeisional conduct an inspection of the Property for mold within days from the Effective Date ("Mold Inspection Period"). 2. Buyer shall be responsible for prompt payment for such inspections and repair of damage to and restoration of the Property resulting from such Inspections. This provision shall survive termination of the Contract. 3. In the event the mold inspection reveals a significant presence of mold in the Property, which requires professionals to remove the mold, at a cost which exceeds $ I ‘ 6(21) Buyer may cancel the Contract by delivering written notice of such election no later than 48 hours after expiration of the Mold Inspection Period. If Buyer timely cancels the Contract, the deposits paid shall be immediately returned to Buyer and Buyer and Seller shall be released from further obligations under the Contract, except as provided in subparagraph 2 above. 4. If Buyer fails to conduct the inspection permitted in this Paragraph or having conducting such inspections, fails to timely notify the Seller of Buyers intent to cancel this Contract or if the mold inspection does not reveal significant presence of mold in the Property which requires professional remediation to remove the mold, at a cost which exceeds the ed in Paragraph 3 above, Buyers may not terminate this Contract pursuant to thisAddendum. Seller: 4,7,„Adtp tactfrae- Date: 7 f (Print) Seller: Date: (ova* esla0 Buyer. 14 .: ** (Ignatiate) VV L% Tj- 1/41 / Date: 7 (i lit (Pfintt Buyer: Date: (signature) Wire MLAC-1 Rev. 10102 0 2002 Florida Association of REALTORS® Al Rights Reserved Ran generated by: TiveForins" 000-4991e12 EFTA00305928 HOMEOWNERS' ASSOCIATION DISCLOSURES The clause below will be incorporated into the Contract between C71:1LOY21/2.O Cl 1/4 2-61 (Seller) and -AIM CIO PTINSD rchle. tit tar rgliSTS tis- (Buyer) concerning to the Properly described as only if initialed by all parties: ( ) ( J Homeowners' Association: The property is located in a community with a 0 voluntary mandatory (see the disclosure summary below) homeowners' association (Association"). Seller's warranty under Paragraph 8 of he Contract and risk loss under Paragraph 9 or Paragraph H of the Comprehensive Addendum (if applicable) extend only to the Property and does not extend to common areas or facilities described below. Notice: Association documents may be obtained from the county record office or, If not public record, from the developer or Association manager. The property may be subject to recorded restrictive covenants governing the use and occupancy of properties in the community and may be subject to special assessments. (1) Association Approval: If the Association documents give the Association the right to approve Buyer as a purchaser, this Contract is contingent on such approval by the Association. Buyer will apply for approval within days from Effective Date (5 days if left blank) and use diligent effort to obtain approval, including making personal appearances and paying related fees if required. Buyer and Seller will sign and deliver any documents required by the Association to complete the transfer. If Buyer is not approved, this Contract will terminate and Seller will return Buyer's deposit unless this Contract provides otherwise. (2) Right of First Refusal: If the Association has the right of first refusal to buy the Property, this Contract is contingent on the Association deciding not to exercise such right. Seller, will, within 3 days from receipt of the Association's decision, give Buyer written notice of the decision. If the Association exercises its right of first refusal, this Contract will terminate. Buyers deposit will be refunded unless this Contract provides otherwise and Seller will pay Brokers full commission at closing In recognition that Broker procured the sale. (3) Fees: Buyer will pay any application, transfer and initial membership fees charged by the Association. Seller will pay all the fines imposed against the Property as of Closing Date and any fees the Association charges to provide information about its fees or the Property, and will bring maintenance and similar periodic fees and rents on any recreational areas current as of Closing Date. If, after the Effective Date, the Association imposes a special or other assessment for improvements, work or services, Seller will pay all amounts du fore Closing Date and Buyer will pay all amounts due after Closing Date. If special assessments may be paid in installments Buyer 0 Seller (if loft blank, Buyer) shall pay installments due after Closing Date. If Seller is checked, Seller will pay the assessment i prior to or at the time of Closing. Seller represents that hefshe is not awar of any pending special or other assessment that cation is consideget ept as follows: $ 33;444.4.unTh,-' per-1840+1k to The following du maintenance fees are currently charged by the homeowners' association: )0( $ per VlJ1 trirtAN to }k'D per S per to to (4) Damage to Common Elements: If any portion of the common element is damaged due to fire, hurricane or other casualty before closing, either party may cancel the Contract and Buyers deposit shall be refunded if (a) as a result of damage to the common elements, the Property appraises below the purchase price and either the parties cannot agree on a new purchase prce or Buyer elects not to proceed, or (b) the Association cannot determine the assessment attributable to the Property for the damage at least 5 days prior to Closing Date, or (c) the assessment determined or imposed by the Association attributable to the Property for the damage to the common element is greater than $ or °/ii of the purchase price (1.5% if left blank). (5) Disclosure Summary for Mandatory Associations: IF THE DISCLOSURE SUMMARY REQUIRED BY SECTION 720.401, FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO THE PROSPECTIVE PURCHASER BEFORE EXECUTING THIS CONTRACT FOR SALE, THIS CONTRACT IS VOIDABLE BY BUYER BY DELIVERING TO SELLER OR SELLER'S AGENT OR REPRESENTATIVE WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 3 DAYS AFTER RECEIPT OF THE DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY PURPORTED WAIVER OF THIS VOIDABILITY RIGHT HAS NO EFFECT. BUYER'S RIGHT TO VOID THIS CONTRACT SHALL TERMINATE AT CLOSING. Disclosure summary for (Name of Community) ltiCA•.. Sea r (1) AS A PURCHASER OF PROPERTY IN COMMUNITY, BUYER WILL BE OBLIGATED TO BE A MEMBER OF A HOMEOWNERS' ASSOCIATION. (2) THERE HAVE BEEN OR WILL BE RECORDED RESTRICTIVE COVENANTS GOVERNING THE USE AND OCCUPANCY OF PROPERTIES IN THIS COMMUNITY. (See Continuation) Buyer ( 6 1.—b ) ( ) and Seller ) acknowledge receipt of a copy of this page. FtALP 12/07 EFTA00305929 &kJ Homeowners' Association: (CONTINUATION) (3) YOU WILL BE OBLIGATED TO PAY ASSESSMENTS TO THE ASS CIA.,TION. ASSESSMENTS MAY BE SUBJECT TO (4 PERIODIC CHANGE. IF APPLICABLE, THE CURRENT AMOUNT IS S :1hr PER ,KM-.... .YOU WILL ALSO BE OBLIGATED TO PAY SPECIAL ASSESSMENTS IMPOSED BY THE ASSOCI N . SUCH SPECIAL ASSESSMENTS MAY BE SUBJECT TO CHANGE. IF APPLICABLE, THE CURRENT AMOUNT IS $ PER (4) YOU MAY BE MAY OBLIGATED TO PAY ASSESSMENTS TO THE RESPEC MUNICIPALITY, COUNTY, OR SPECIAL DISTRICT. ALL ASSESSMENTS ARE SUBJECT TO PERIODIC CHANGE. (5) YOUR FAILURE TO PAY THESE ASSESSMENTS OR ASSESSMENTS LEVIED BY A MANDATORY HOMEOWNERS' ASSOCIATION COULD RESULT IN A LIEN ON THE PROPERTY. (6) THERE MAY BE AN OBLIGATION TO PAY RENT OR LAND USE FEES FOR RECREATIONAL OR OTHER COMMONLY USED FACILITIES AS AN OBLIGATION OF MEMBERSHIP IN THE HOMEOWNERS' ASSOCIATION. IF APPLICABLE, THE / CURRENT AMOUNT IS $ pi, PER (7) THE DEVELOPER MA HAVE THEn AMEND THE RESTRICTIVE COVENANTS WITHOUT THE APPROVAL OF THE ASSOCIATION MEMBERSHIP OR THE APPROVAL OF THE PARCEL OWNERS. (8) THE STATEMENTS CONTAINED IN THIS DISCLOSURE FORM ARE ONLY SUMMARY IN NATURE, AND, AS A PROSPECTIVE PURCHASER, YOU SHOULD REFER TO THE COVENANTS AND THE ASSOCIATION GOVERNING DOCUMENTS BEFORE PURCHASING PROPERTY. (9) THESE DOCUMENTS ARE MATTERS OF PUBLIC RECORD AND CAN BE OBTAINED FROM THE RECORD OFFICE IN THE COUNTY WHERE THE PROPERTY IS LOCATED, OR ARE NOT RECORDED AND CAN BE OBTAINED FROM THE DEVELOPER. Buyer adcnowtedges receipt of this summary before signing this Contract. bo.„,,(,,d4aqv —7( (I it uyer Date Buyer Date and Seller ( ) ( ) acknowledge receipt of a copy of this page. RALP 12/07 EFTA00305930 MICHELLE F. SAIPEIER DARREN K. INDYKE 1,243 le•p l-V't ifl ike}" Aerlatt COMMERCE BANK AMERICAS MOST CONVENIENT BANK 1400-YES. Por IS4-41414) Mitt CPA le_ 0040V- 3008 20l l e. 4 1 $: 00 — Dollars 8 Ettr 300E EFTA00305931 LUXURY PARTNIRS mat,orro r _ if between I kriirriptssocamrss ADDENDUM TO CONTRACT AddendumNo. 1 to die Contract dated SOC1 I ) #4)10 ebuttiw cfrete •-• - (Seller) and •DipsizaD3 40blIC-C-C (Buyer) concerning the rose described Buyer and Seller make the following terms and conditions part of the Contract: 'Ben a Prrna- SAv 'gen 43 A AVM_ 6 etthen_ Tu rt36% Iltol eatten, en-. -0 ic i 1-4 Oen TIVT— Au V Date: 7 /9-ht Buyer: Date: Buyer: Date: # Seller: RALP 01/07 Date: Seller. EFTA00305932