|
332 professionals for legal, tax, environmental , and other specialized advice concerning matters affecting the Property
<br /> 333 and the transaction contemplated by this Contract Broker represents to Buyer that Broker does not reside on the
<br /> 334 Property and that all representations (oral , written or otherwise) by Broker are based on Seller representations or
<br /> 335 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND
<br /> 336 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND
<br /> 337 _ FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATI
<br /> 33a WRITTEN OR OTHERWISE) ONS (ORAL,
<br /> E OF BROKER, Buyer and Seller (individually, the "Indemnifying Party") each
<br /> 339 individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and
<br /> 340 employees from all Liability for loss or damage, Including all costs and expenses, and reasonable
<br /> sal at all levels, suffered or iattorney's feesincurred by Broker and Broker's officers, directors , agents and employees
<br /> in connection
<br /> `-'-with-orarisi
<br /> "3az— rrg-from--c{airrrs;�tematrds-ot�-C �q��--t���, as on: t Ina - - - `
<br /> 343 information provided by the Indemnifying Party or from public records a Indemn ��� � or
<br /> 344 failure to perform contractual obligations; (iii) Brokers performance, at IndemnifyingPaty's's request,
<br /> s of any t k
<br /> 345 beyond the scope of services regulated by Chapter 475, F.S. , as amend , including Brra
<br /> e�al
<br /> 346 recommendation or retention of any vendor for, or on behalf of Indemnifying Party; (iv) products or
<br />8ely(cas
<br /> 347 provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any
<br /> such
<br /> 348 vendor. Buyer and Seller each assumes full responsibility for selecting and compensating theirrespective
<br /> 3" vendors and paying their Ether costs under this Contract whether or not this transaction closes. This
<br /> 350 Paragraph 14 will not relieve Broker of statutory obligations under Chapter 475, F.S. , as amended. For purposes
<br /> 351 of thio Paragraph 14, Broker will be treated as a party to this Contract. This Paragraph 14 shall survive C losi
<br /> 3 .52 termination of this Contract. ng
<br /> Or
<br /> 3'3 DEFAULT AND DiSPUTE RESOLUTION
<br /> 3S4 I & DEFAULT:
<br /> ass (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer's obligations under this
<br /> Contract,
<br /> ash including payment of the Deposit, within the time(s) specified, Seller may elect to recover and retain
<br /> the
<br /> 357 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this
<br /> 358 Contract, and in full settlement of any claims, whereupon Buyer and Seller shalt be relieved from all further
<br /> ass obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity
<br /> 360 to enforce Seller's rights under this Contract. The portion of the Deposit, tT any, paid to Listing Broker
<br /> upon
<br /> 361 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker, provided however,
<br /> 362 Cooperating Brokers share shall not be greater than the commission amount Listing Broker had agreed t(> pay
<br /> 363 to Cooperating Broker.
<br /> 364 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Sellers title marketable
<br /> after
<br /> 365 reasonable diligent effort, Seller fails, neglects or refuses to
<br /> 366 Buyer may elect to receive return of Bu l�� Sellers obligations under this Contract,
<br /> 3e7 from Sellers breach and s Deposit without thereby volving any action for damages resulting
<br /> pursuant to Paragraph ifi, may seek to recover such damages or seek specific
<br /> J6e performance.
<br /> _ _ ._. _.... -. . ._ . .. . - --. . .. - . .. .
<br /> 369 This Paragraph 15 shall surWve Closing or term [nation .of this Contract_
<br /> 37o 16. DISPUTE RESOLUTION: Unresolved oontroversies, claims and other matters in question between Buyer and
<br /> 371 Seller arising out of, or relating to, this Contract or its breach, enforcement or interpretation "DIs e`
<br /> will be
<br /> 372 settled as follows: ( put )
<br /> 373 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to
<br /> 374 resolve such Dispute, failing which, Buyer and Seller shalt submit such Dispute to mediation on under
<br /> 3 ParagraptT 16(b)_
<br /> 378 (b) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida
<br /> 377 Rules for Certified and CourtAppointed Mediators and Chapter 44, F.S. , as amended (the "Mediation Rules'.
<br /> 379 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be
<br /> 379 sought without firs# complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16
<br /> 380 may be resolved by instituting action in the appropriate court having jtxisdIction of Ute matter.
<br /> 391 This Paragraph 16 shall survive Closing or termination of this Contract
<br /> 3112 117. ATTOR_ NEY'S FEES; COSTS: The parties.will. split. egyallyany .me0a4on fewirtwrred in .any mediation permitted
<br /> 3B3 by tFirs Contract, and each
<br /> 384 conducting the mediation. can any will pay
<br /> rr own permitted by this Contract,and f they including
<br /> prevailingreaiattorney's fees, kxx�red in
<br /> entitled o
<br /> 365 recover from the non1wevaiiing party costs and fees, including reasonable attorney's fees, incuparty srred hall m conducting
<br /> 386 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract
<br /> 387 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS")
<br /> 366 1 & STANDARDS:
<br /> 389 A. TITLE:
<br /> 390 (t) TITLE . EVIDENCE; RESTRICTIONS; EASEMENTS; LIMITATIONS: Within the time period provided in
<br /> 394 I=aragraph 9(c) Title Commitment, with legible copies of instruments listed as ex o
<br /> Buyers Initials cePti 9s ?ched therethatl
<br /> Florida RealtorslFloridaBar-1 Rev. 6/10 0 2010 Florida RealtorsO and The Florida Bar. All rights eserved Initials ��v
<br /> 405
<br />
|