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238 ' holiday, performance will be due the next business day. All time periods will end at 5:00 p .m. local time (meaning in the
<br /> 239 county where the Property is located) of the appropriate day.
<br /> 240 (c) Force Majeure: Buyer or Seller shall not be required to perform any obligation under this Contract or be liable to
<br /> 241 each other for damages so long as the performance or non-performance of the obligation is delayed, caused or prevented
<br /> 242 by an act of God or force majeure. An "act of God" or 'force majeure" is defined as hurricanes, earthquakes, floods, fire,
<br /> 243 unusual transportation delays, wars, insurrections and any other cause not reasonably within the control of the Buyer or
<br /> 244 Seller and which by the exercise of due diligence the non-performing party is unable in whole or in part to prevent or
<br /> 245 overcome. All time periods, including Closing Date, will be extended (not to exceed 30 days) for the period that the force
<br /> 246 majeure or act of God is in place. In the event that such "act of God" or 'force majeure" event continues beyond the 30
<br /> 247 days in this sub-paragraph, either party may cancel the Contract by delivering written notice to the other and Buyer's
<br /> 248 deposit shall be refunded.
<br /> 249 10. NOTICES: All notices shall be in writing and will be delivered to the parffes and .Broker by mail, personal delivery or
<br /> 250 electronic media. Buyer's failure to deliver fimely written notice to SeW when such notice is required by this Contract,
<br /> 251 regarding any contingencies will render that contingency null and void and the Contract will be construed as 'rf the
<br /> 262 contingency did not exist. Any notice, document or item delivered to or received by an attorney or licensee (including a
<br /> 253 transaction broker) representing a party will be as effective as if delivered to or by that party.
<br /> 254 11 . COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage
<br /> 255 agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract.
<br /> 256 Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound.
<br /> 2s7 This Contract , signatures , initials, documents referenced in this Contract , counterparts and written modifications
<br /> 258 communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten
<br /> 259 or typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or
<br /> 2ao becomes irwaCrd or unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller wlf use diligence
<br /> est and good faith in performing all obligations under this Contract. This Contract wig not be recorded in any public records.
<br /> 252 12. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms
<br /> 233 "Buyer," "Seller, " and "Broker" may be singular or plural . This Contract is binding on the heirs, administrators, executors,
<br /> 234 personal representatives and assigns (if permitted) of Buyer, Seller and Broker.
<br /> 265 DEFAULT AND DISPUTE RESOLUTION
<br /> 266 13. DEFAULT: (a) Seller Default If for any reason other than failure of Seller to make Seller's title marketable after diligent effort,
<br /> 267 Seller fails, refuses or neglects to perform this Contract, Buyer may choose to receive a return of Buyers deposit without
<br /> 26e waiving the right to seek damages or to seek specific performance as per Paragraph 14. Selle r
<br /> 289 %i;;Q fi �. (b) Buyer Default: If Buyer fails to perform this Contract within the time specified, including
<br /> 270 timely payment of all deposits, Seller may choose to retain and collect all deposits paid and agreed to be paid as liquidated
<br /> Zit damages or to seek specific performance as per Paragraph 14; - M1558.11 s
<br /> 272 - -
<br /> 273 14. DISPUTE RESOLUTION: This Contract will be construed under Florida law. All controversies, claims, and other matters in
<br /> 274 question arising out of or relating to this transaction or this Contract or its breach will be settled as follows:
<br /> 275 (a) Disputes concerning entitlement to deposits made and agreed to be made: Buyer and Seller will have 30 days from
<br /> 276 the date conflicting demands are made to attempt to resolve the dispute through mediation. If that fails, Escrow Agent
<br /> 277 will submit the dispute, if so required by Florida law, to , a Florida court eii them
<br /> 278 Flapid a Buyer and Seller will be bound by any resulting award, judgment or order64.
<br /> 279
<br /> 280 °
<br /> zat
<br /> 282 (b) All other disputes: Buyer and Seller will have 30 days from the date a dispute arises between them to attempt to
<br /> 2113 resolve the matter through mediation, the
<br /> 284 eco
<br /> 285 r for in this Contract. The award will be based on the real ce and will
<br /> 286 state findings of fact and t e con t e parties agree to use discovery, it will
<br /> 267 be in accordance with the Uvl, , rocedure an aresolve all discovery-related
<br /> Zea disputes. s with a real estate lkBansee named in Paragraph 17 will be submitte
<br /> les This clause will survive closing .
<br /> 290 (c) Mediation and-Arbtlration' Expenses: "Mediation" is a process in which parties attempt to resolve a dispute by
<br /> 291 submitting It to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to impose a
<br /> 292 settlement on the parties. Mediation will be in accordance with the rules of the
<br /> 293 #" -mediator agreed on by the parties. The parties will equaly divide the mediation fee, If n
<br /> s
<br /> 295 binding on the parties. Arbitration will be in acco e AAA or other arbitrator agreed on by the parties.
<br /> zss Each party to any a b t fees, costs and expenses, 6r
<br /> g attorneys' tees, and wil equaly spl[ the
<br /> z97 arbitrators' a ministretive fees of arbitration. In a civil action to enforce an arbitration award, the prevailing party to the
<br /> 298 )
<br /> 1 a���ed pY g
<br /> 293` Buyer (_� ( 1 and Selle �,�1 ge receipt of a co of this page, which is Pae 5 of 7 Pages.
<br /> VAC-9 Rev. 4/07 0 2007 Florida atb`f R oas° All Rights Reserved
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