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<br /> 20an Broker will be treated , as a party to this Contract. This Paragraph 14 shall survive Closing or termination -of this
<br /> 289. Contrait.
<br /> I AmDEFAULT AND DISPUTE RESOLUTION
<br /> zsj, " 16, DEFAULT:
<br /> V2 (a) BUYER DEFAULT: If Buyer .fails, neglects or refuses to perform Buyer's obligations under . thie Contract,
<br /> r>3 including payment . the Deposit,; within the dme(s) . specified, Seller may elect to recover and .retain the
<br />:
<br /> 2,a Deposit for the account of Seller as agreed upon liquidateddamage consideration for execution :of this
<br /> VsContrail, andk in full settlement of any claims, whereupon Buyer and' Seller shall be relieved from all further-
<br /> 27s obligations under this 'Contrad, or SelleratteAer's option, may, '. pursuantto Paregnaph ' 16, proceed inrequkyIN
<br /> zn to enforce Seller's ;rights under this Contract. The portion of the Deposit, if any, : paid,. to Usting Broker upon
<br /> 276 , default by. Buyer, shall be,' splft equally between -Usting Broker and; Coopomting - Broker, ,provided however,
<br /> V9 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay '
<br /> no to CooperstingZroker.
<br /> ern (b) SELLER 'DEFAULT: If for any reason other than failure of Seger to make Seller's tide Antarketable after
<br /> zex reasonable diligent effort, Seller fails, neglects or refuses to perforin SeWs obligations under this Contract;
<br /> 20 Buyer may elect to receive return of Buyer's Deposit without thereby waiving any action>fordamages, resulting
<br /> =4 from Seller's breach, and; pursuant to Paragraph 16, may seek to% recover - such damages or seek specific
<br /> 265 performance. This Paragraph 15 shall survive Closing or termination of this .Contrail.
<br /> 2es 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and
<br /> 287Seller arlsing out of, or relating to, this Contract or its breach, enforcement.-.or Interpretation. ('Dtputep) will be
<br /> M settled as folk►ws:
<br /> 26e: (a) Buyer and Seller will have 10 days after the date, conflicting demands for the Deposit are made to k attempt to
<br /> leo resolve such . Dispute, failing which; Buyer and Seiler shall submit such Dispute to medwdon under
<br /> 21h, Paragraph 16(b). .
<br /> (b) Buyer and' Sellar shall attempt Weetde Disputes`in anramicable manner througKmediation pursuant'to Florida:
<br /> 20 Rules for Certified and Court,Appointed Mediators and Chapter 44, F.S. , as amended (the Wediation . Rules7.
<br /> 2" The mediator must be cerdfled or must have experience. in the reel estate Industry. .;.Injunctive, relief. nay beIN
<br /> Zea sought withoutflrst complying with this Paragraph 16(b). Disputes not settled pursuant to this -P% aregmph� 16
<br /> les maybe resolved by Instituting, action In the appropriate court having�Judediction,oftlhe matter TFiis Paragraph 16
<br /> 2er shall survive Closing or termination of this Contract.
<br /> 2es 17. ATTORNEY'S FEES; COSTS: Them parties will split equally: any mediation fee incurred In any mediation permitted
<br /> �e by this 'Contract, and each party will pay their own costs, expenses and .fees including attorney's fees, incurred in : ' .
<br /> 200 condudingAhe mediation. In any litigation permitted by this Contract, theprevailing party shall be entitled, to
<br /> recover from the nonIN
<br /> -prevailing party costs and fees, including reasonable attorney's fees; ncurred in ,conductirtg
<br /> 11 11
<br /> ace the itggation. This Paregreph :l7 shell' survive Closing or termination of.this Contred: .
<br /> STANDARDSFOR REAL ESTATE TRANSACTIONS ("STANDARDS")
<br /> as 16:_ STANDARDS:
<br /> sob A. TITLES _
<br /> 30s (i) TITLE EVIDENCE,z RESTRiCTIONS1 h legible oopie LIMITATIONS: Within the time period ,provided in
<br /> EASEMENTS
<br /> soy Paragraph 9(c),4he 71de Commitment, s of instruments excepdons., attechad thereto, shall,A, .
<br /> ace be 'Issued and delivered to Buyer. The Tide Commitment shall set forth `those matters to be disdlarged` by Seller at or
<br /> 366- before Closingsnd shall; provide that, upon, recording ofmthe deed to Buyer, , an owner's policy;of title insurance� in the :•
<br /> s10 amount of the Purchase Price, shall be issued to Buyer Insuring Buyer's marketable tide to the: ;Real
<br />Prziperiy;. .
<br /> 511 subject only to the following matters: (a) comprehensive land use plans, zoning, and other, land use .restrictions,
<br /> 312 prohibftions . and=requirements unposed ' by govemmentel authority; (b) resMilions°. and =matters appearing, on the Plat
<br /> ala or otherwise common to the subdivision; (c) outstanding .oil, gas andminerel rights of record without right of entry;
<br /> 314 (d)> unplatted public utility easements of record (located-oontiguous to mal , property lines and not. more-than 10, feet in
<br /> 316 width as to rear or front line and 7112;;fest• 1n width as to side .Items); (e) taxes for year of Closing : and subsequent
<br /> :
<br /> 316 - years; and (f) assumed mor�ages and purchase money, mortgages, if a%ny (if additional items,. attach addendum);:.
<br /> 317 provided, that none prevent use Of the"Property for RESIGENTIAL`' PURPOSES. N dleresexists et Cloah any
<br /> ale violationc of kerne Identified In (b)�- (f) above, then the Atme °ehall bwdeerned ' a tile , defect. Marketable tide4hall " b1I e
<br /> a16 determined�according to applicable Title :Standards edopted by authority of"The Florida Bar and in accordance $1 Kh
<br /> A = law ,
<br /> 321 (i� TITLE EXAMINATION. Buyer shall ' have ti days< after ;receipt of Tile Comem*ndr t ' to
<br /> examine it and notify
<br /> a22 Seller In A , fying �defect(s), if any, that render title urunarketabie: .lf Seger: prome
<br /> vides. Title Commitment and :k
<br /> ata is delivered to 'Buyer less than ,5 ,days: prior to e Closi� Data;, Buyer may extend Closing ,.for up',to 5
<br /> days after
<br /> a24 date of receipt to examine sameein aocordance v th '` this STANDARD A. . Seller shad �hava' 30 days .('Cure 'Pertod )
<br /> 32s after receipt of Buyer's ,notice klo take, reasonable diligent efforts to remove ; defects. ff Buyer fails to sorno*.Ny ,cSeUer, `
<br /> Buyer steal ee , , to have accepted . title as it then is: ` If Seiler; cures defects within" Cure , Period, ,Sel16r
<br /> .wilt '
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<br /> Buyer's-lnitlals Pages of 10 Seller's Initials;
<br /> F1oAtlaRealro�sJFlorld. . . .. , . ,A51S•1 Rev. 8110® 2010 Florida ReaQoraG and The Florida Bar. All eft reasrved.
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