2013-156 - Laserfiche WebLink

Home Browse Search

so s . EXTENSION OF CLOSING DATE: 51 (a) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In Lending Act ( FILA) 52 notice requirements, Closing shall be extended for such period .necessary to satisfy T1LA notice requirements, 53 not to exceed 7 days. 54 (b) If extreme weather or other condition or event constituting "Force Majeure" (see STANDARD G) causes: ss (i) disruption of utilities or other services essential for Closing, or n Hazard, Wind, Flood or Homeowners' 56 insurance, to become unavailable prior to Closing, Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard, Wind, 58 Flood or Homeowners' insurance. if restoration of such utilities or services and availability of insurance has not ss- occurred: within .' (if left blank, 14) days after Closing Date, then either party may terminate this _ -- - — � contract-by d iverirrg-writt other party, and-Buyer shall rerided the Deposit, thereby et releasing Buyer and Seiler from all further obligations under this Contract 52 e . OCCUPANCY AND POSSESSION : Unless otherwise stated herein, Seller shall, at Closing, have removed all ss personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, 64 garage door openers, access devices and codes, as applicable , to Buyer. If Property is intended to be rented or as occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant es to STANDARD D. If occupancy is to be delivered bbtore Closing, Buyer assumes all risks of loss to Property from 67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy, except with respect to any nems as identified by Buyer pursuant to Paragraph 12 prior to taking occupancy which require repair, replacement, 7o treatmert or remedy: 71w T. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from any further liability 72V under this Contract; may assign but not be released from liability under this Contract; or ❑ may not assign 73 this Contract_ 74 FINANCING 75 a . FINANCING : 7s-, R (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing 77 contingency to Buyer's obligation to close. 700 ❑ (b) This Contract is contingent upon Buyer obtaining a written loan commitm ant for a ❑ conventional Q FHA 79• ❑ VA loan on the following terms within (if blank, then Commitment days after Effective Date ('Loan so- Ell Date'? for. (CHECK ONE): fixed, ❑ adjustable, LS fixed or adjustable rate loan in W the principal amount of $ or % of the Purchase Price, at an initial interest rate W not to exceed % (if blank, then prevailing rate based upon Buyer's creditworthiness), and for a aa- term of years ("Financing') . aa• Buyer will make mortgage loan application for the Financing within (if blank, then ti) days after 85 Effective Date and use good faith and dillgent effort to obtain a written loan commitment for the Financing _ . . . . . . . ... as . . . . . ('.'Loan - Commitrnent'))-and close this --GontmCLA * Buyer shall keep Seller--and -Broker futty- infbrmed`about .. .. . a7 the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and 88 Buyer's lender t0 disclose such status and progress to Seller and Broker. as If Buyer does not receive Loan Commitment, then Buyer may terminate this Contract by delivering written 90 notice to Seiler, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all r» further obligations under this Contract. 92 If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of 99 this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by 99 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and 85 Seller from all further obligations under this Contract, es If Buyer delivers written notice of receipt of Loan Commitment to Seger and this Contract does not 97 thereafter close, the Deposit shall be paid to Seller unless failure to dose is due to: (1 ) Seller's default; 98 (2) Property related conditions of the Loan Commilinent have not been met . (exci t when such conditions are waived by oth6V pr ViM6ns of this Contract); (3) appraisal of the property obtained l y Buyers lender is ton insufficient to meet terms of the Loan Commitment; or (4) the ban is not funded due to financial failure of tot Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seiler los from all further obligations under this Contract. los- 13 (c) Assumption of existing mortgage (see rider for terms). too- ❑ (d) Purchase money note and mortgage to Seller (see riders; addenda; or special clauses for terms). Buyer's Initials _ Page 2 of 11 Sellers initials FloridaRealtorslFtorldaBar-1 Rev. 6110 ® 2010 Florida Realtors@I and The Florida Bar. Ali rights raserved. _ 400