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2013-078
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Last modified
11/2/2015 10:08:03 AM
Creation date
10/1/2015 5:15:27 AM
Metadata
Fields
Template:
Official Documents
Official Document Type
Memorandum
Approved Date
04/23/2013
Control Number
2013-078
Agenda Item Number
10.A.1
Entity Name
Romanowiz, Alyssa
Subject
Neighborhood Stabilization
Community Development Block Grant
Ordinance 2012-006
Area
798 Mulberry Street Sebastion
Supplemental fields
SmeadsoftID
11880
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A TRUE COPY <br /> CERTIFICATION ON LAST PAGE <br /> J . R . SMITH , CLERK <br /> so 5. EXTENSION OF CLOSING DATE : <br /> 51 (a) If Closing funds from Buyer' s lender(s) are not available at time of Closing due to Truth In Lending Act (TILA) <br /> 52 notice requirements, Closing shall be extended for such period necessary to satisfy TILA notice requirements, <br /> 63 not to exceed 7 days. <br /> 54 (b) If extreme weather or other condition or event constituting " Force Majeure' (see STANDARD G) causes: <br /> 55 (1) disruption of utilities or other services essential for Closing , or (ii) Hazard , Wind, Flood or Homeowners' <br /> 5e insurance , to become unavailable prior to Closing, Closing will be extended a reasonable time up to 3 days <br /> 87 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard , Wind , <br /> 68 Flood or Homeowners' insurance . If restoration of such utilities or services and availability of insurance has not <br /> se• occurred within 14 (if left blank, 14) days after Closing Date , then either party may terminate <br /> this <br /> so Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, <br /> thereby <br /> 61 releasing Buyer and Seller from all further obligations under this Contract. <br /> 62 6. OCCUPANCY AND POSSESSION : Unless otherwise stated herein, Seller shall at Closing, have removed all <br /> 63 personal items and trash from the Property and shall deliver occupancy and possession , along with all <br /> keys, <br /> 64 garage door openers , access devices and codes, as applicable, to Buyer. If Property is intended to be rented or <br /> 66 occupied beyond Closing , the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant <br /> ss to STANDARD D . If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from <br /> 67 date of occupancy, shall be responsible and liable for maintenance from that date , and shall be deemed to have <br /> 68 accepted Property in its existing condition as of time of taking occupancy. <br /> ea* 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from any further liability <br /> 70• under this Contract; ❑ may assign but not be released from liability under this Contract; or ® may not assign <br /> 71 this Contract. <br /> 72 FINANCING <br /> 73 8. FINANCING : <br /> 74- ❑ (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. <br />There is no financing <br /> 75 contingency to Buyer' s obligation to close . <br /> 760 ® (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a Q conventional ❑x FHA <br /> 77* ® VA loan on the following terms withinif blank , then 30) days after Effective Date ("Loan <br /> 78• Commitment Date') for: (CHECK ONE) : EX fixed , ((] adjustable, ❑ fixed or adjustable rate loan <br /> in <br /> 79• the principal amount of $ 68, 000 . 00 or 50.000 % of the Purchase Price, at an initial interest rate <br /> so• not to exceed % ( if blank , then prevailing rate based upon Buyer's creditworthiness) , and for a <br /> 81 • term of 30 years ( " Financing') . <br /> 82• Buyer will make mortgage loan application for the Financing within 6 (if blank, then 5) days after <br /> 83 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing <br /> e4 (" Loan Commitment") and close this Contract. Buyer shall keep Seller and Broker fully • informed about <br /> ss the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and <br /> 86 Buyer's lender to disclose such status and progress to Seller and Broker. <br /> 87 If Buyer does not receive Loan Commitment, then Buyer may terminate this Contract by delivering written <br /> 88 notice to Seller, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from <br /> all <br /> ea further obligations under this Contract. <br /> so If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of <br /> 91 this financing contingency, then after Loan . Commitment Date Seller may terminate this Contract <br /> by <br /> 92 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and <br /> 93 Seller from all further obligations under this Contract. <br /> 94 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract <br /> does not <br /> 95 thereafter close, the Deposit shall be paid to Seller unless failure to close is due to: (1 ) Seller's <br /> default; <br /> as (2) Property related conditions of the Loan Commitment have not been met (except when such conditions <br /> 97 are waived by other provisions of this Contract) ; (3) appraisal of the Property obtained by Buyer's lender is <br /> es insufficient to meet terms of the Loan Commitment; or (4) the loan is not funded due to financial failure <br />of <br /> ss Buyer' s lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seller <br /> 100 from all further obligations under this Contract. <br /> 101 • ❑ (c) Assumption of existing mortgage (see rider for terms) . <br /> 102• ❑ (d) Purchase money note and mortgage to Seller (see riders ; addenda; or special clauses for terms) . <br /> Buyer's Initials �fS Page 2 of 10 Seller's Initials <br /> FloridaRealtorsfFloridaBar-A -1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved. <br />
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