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327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTiNUED)
<br /> 32a deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyers attorney) and the parties
<br /> will
<br /> 329 close this : Contract on Closing Data (or if Closing Date has passed, within 10 days after Buyers receipt of
<br /> Sellers
<br /> 33o notice): If Seller is unable: to cure. defects within Cure Period, then Buyer may , within 5 days after
<br /> expiration of
<br /> 331 Cure Period, deliver written notice to! Seller (a) extending Cure Period for a specified period not>to exceed 120 days
<br /> 332 within which Seller shall- continue, to use reasonable diligent effort to remove or curethe defects ('Extended Cure
<br /> ass Period? or'(b) elacting-to eccep1:, ide°with existing defects and close thl& Contract on Closing Date (or if Closing: Date
<br /> 334 has passed, . within °the %eadierof %, days after and of Extended Cure Period or Buyers receipt• of Sellers notice), or
<br /> us (c); electing to terminate this Contract,and receive a refund of the Deposit, thereby releasing Buyer. and Seller from
<br /> 3ss all- further obligations% under this Contract. If after reasonable .diligent effort, Seller is unable to timely cure: defects,
<br /> 337 and.` Buyerdoes not waive- the` defects, ,this Contract shall-terminate, and ^ Buyer shall receive a refund of the Deposit,
<br /> 33B thembyreleasing Buyer:andaSellerfrom aitfurtherobiigatlons under this Contract.
<br /> 339 Be . SURVEY: If Survey discloses encroachments on the Real Property or that Improvements located thereon
<br /> 34o encroach on setback lines, easements, or lands of others, or violate any restrictions, covenants,
<br /> or applicable
<br /> 341 governmental regulations described in STANDARD A (i)(a), (b) or (d) above, Buyer shall deliver written notice of such
<br /> 342 matters, together with a copy of Survey, to Seller within 5 days after Buyers receipt of Survey, but no later
<br /> than
<br /> 343 Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey
<br /> 3" shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered
<br /> a prior —
<br /> 34s survey, Seiler shall, at Buyers request, execute an affidavit of ' no change' to the Real
<br /> Property since the
<br /> 349 preparation of such priorsurvey, to the extent the affirmations therein are true and correct.
<br /> 347 C. INGRESS AND EGRESS: Seller represents that there Is ingress and egress to the Real Property and He
<br />to
<br /> 349 the Real Property is insurablein accordance with STANDARD A without exception for lack of legal right of access.
<br /> 349 D . LEASES : Seller shall, within 5 days after Inspection Period, famish to Buyer copies of all written
<br /> leases and
<br /> 35o estoppel letters from each tenant specifying nature and duration of tenant's occupancy, rental rates, advanced rent
<br /> 351 and security deposits paid by tenant, and income and expense statements for preceding 12 months
<br /> ("Lease
<br /> 352 Information'). If Seller is unable to obtain estoppel letters from tenant(s), the same information shall be furnished by
<br /> 353 Seller to Buyer within that time period in the form of a Sellers affidavit, and Buyer may thereafter contact tenent(s)
<br /> s5a to confirm such information. If terms of the lease(s) differ materially from Sellers representations, Buyer may deliver
<br /> ass written notice to Seller within 5 days after receipt of Lease Information, but no later than 5 days
<br />prior to Closing
<br /> 3s6 Date, terminating this Contract and receive a refund of the Deposit, thereby releasing . Buyer and Seller from
<br /> all
<br /> 357 further obligations under this Contract. Seller shall, at Closing, deliver and assign all originalleases to Buyer
<br /> who
<br /> 30 shall assume Sellers obligation thereunder.
<br /> ass E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting, (I) to the absence
<br /> of any financing
<br /> 3110 statement, claims of lien or potential Ilenors known to Seller, and (0) that there have been no improvements or repairs
<br /> 391 to the Real Property for 90 days Immediately preceding Closing Date, if the Real Property has been improved or
<br /> 362 repaired within that time, Seller shall deliver releases or waivers of construction liens executed by
<br /> all general
<br /> 363 contractors, subcontractors, suppliers and materialmen in addition to Sellers lien affidavit setting forth names of
<br /> all
<br /> 364 such general contractors, subcontractors, suppliers and materialmen, further affirming that all charges for
<br /> 365 improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been paid
<br /> See or will be paid at Closing.
<br /> W F. TIME : Calendar days shall be used in computing time periods. Any time periods provided for in this Contract
<br /> 369 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U.S. C. 6103) shall extend to
<br /> 5: 00 p. m .
<br /> 36e (where the Property is located) of the next business day. Time Is of the essence In this Contract.
<br /> sro G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or
<br /> be
<br /> 371 liable to each other for damages so long as performance or non-performance ofAhe obligation is delayed, caused or
<br /> 372 prevented by Force Majeure. "Force Majeure' means: hurricanes, earthquakes, floods, fire, acts of God, unusual
<br /> 373 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control
<br /> of
<br /> 374 Buyer or Seller, and which, by exercise of reasonable diligent effort, the non-performing party is unable in whole or in
<br /> 37s part to prevent or overcome. All time periods, including Closing Date, will be extended for the period that the
<br /> Force
<br /> 37s Majeure prevents performance under this Contract, provided, however, If such Force Majeure continues to prevent
<br /> 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate
<br /> this
<br /> 37a Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer
<br /> 379 and Seller from all further obligations under this Contract.
<br /> 3so H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty,
<br /> trustee's,
<br /> 381 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters described
<br /> 392 in STANDARD A and those accepted by Buyer. Personal Property shall , at request of Buyer, be transferred
<br /> by
<br /> 383 absolute bill of sale with warranty of.title, subject only to such matters as may be provided for in this Contract.
<br /> 391 1. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE:
<br /> 396 (i) LOCATION : Closing will takeplace in the county where the Real Property is located at the
<br /> office of the
<br /> 3e5 attorney or other closing agent ('Closing Agent') designated by the party paying for the owners
<br /> policy of title
<br /> Buyer's Initials _ Page 7 of 10 Seller's Initials
<br /> FroridaRealtorsrFlorki aE�� -ASISA Rev. 6110 0 2010 Florida Realtors® and The Florida Bar. All rghts reserved.
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