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228 12. PROPERTY INSPEGTIONl: RIGHT
<br />229'
<br />230 (a) PROF,ERi Y INSPECTIONS AND RIGHT TO CANCEL: Buyer shag have (if hof blank then 15) days
<br />after l ective Date {"Inspection} Period') within which to have such inspections of the Properly performed
<br />zsI as Buyer shall desire daring the Inspection Period If Buyer determines, in Buyer's sole discretion, that the
<br />Property is not acceptable to Buyer, Bayer may terminate this Contract by de/A/erfng written notice of such
<br />234
<br />233 election to Seller prior to expiration of lnspecioy Period. ff Buyer timely terminates this Contract the
<br />Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all further
<br />235 obligations under this Contract; however, Bayer shalt be responsible for prompt paymentfor such
<br />23o inspections, for repair of damage 1o, ant restoration of, the Property resulting from wish inspections, and
<br />zsr shall provide Seller with paid receipts for all work done on the Property (the preceding provision shall
<br />tis
<br />las survive termination of this Contract). Unless Boyar exercises the right to terminate granted herein, Buyer
<br />accepts the physical condition ohne Property and any violation of governmental, building, environmental,
<br />240 .and safety codes, restrictions, or requirements, but subject to Seller's continuing AS IS Maintenance
<br />242
<br />242 Requirement and Buyer shall be r esponstb13 for any and alt repairs and improvements required by Buyers
<br />lender:
<br />243 (b) WALL THROUGH 1NSpECTIOM RE -I 'SPECTION: On The day prior to Closing Date, or an Closing Date prior to
<br />ass
<br />244 time of Closing, as specfiied by Buyer. Buyer or Buyer's represent ve may perform a walk-through {and follow-up
<br />walk -thigh, if necessary) inspection ofthe Properly solely to confmrr that all items ofPersorral Property are on the
<br />aye Property and to verify that Seller: as maintained the Property as required by the AS IS Maintenance Requirement
<br />247 and has metals other contractual obigations.
<br />ZC$ (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-DUT OF BUILDING PERMITS: If Buyers inspection of
<br />las the Property identifies open orneeded build -mg permits, than Setter shall promptly deliver to Buyer an plans, written
<br />250 documentation or other information in Sellers possession, /mom/ledge, or controt relating to improvements to the
<br />252 Property which are the subject of such open or needed Permits, and shall promptly coopa,.r-ate In good fain with
<br />252 Buyer's efforts to obtain estimates of repairs or other work necessary to resolve such Permit issues. Seiter's
<br />zss obiigefort to cooperate shag include Seller's execution of necessary authorizations, consents, or other decume
<br />esz
<br />254 necessary for Buyer to conduct Inspections and have estimates of such repairs or worts prepared, but in fol Ifing
<br />such obligation, Seller shall not be required to expend, orbecome o5Trgated to expend, any money.
<br />(d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyers option a -1d cost
<br />Seller 'MU, at Closing, assign all assignable repair, treatment and maintenance Contracts and warranties to Buyer.
<br />258 ESCROW AGENT AND BROKER
<br />212. ESCROW AGENT: Any Closing Agent or Escrow Agent (cc ecSvely'Agenf') receMng the Deposit, other funds and
<br />Bao other frvtns is authorized, and agrees by acoeptance of them, to deposit utero promptly, hold sante in escrow mitlin the
<br />259 Sfala of Florida and, subject to COLLECTION, cf.Gbur e them in eceorciance wt`,h term and =acne of this Contract.
<br />z8z Failure of Rinds to become COLLECTED shall not excuse Buyer's performance, When conflicting demands for the
<br />zss Deposit are received, ar Agent hes a good faith doubt as b entitlement to the Deposr%, Agent may take such actions
<br />Zea permitted by this Paragraph 13, es Agent dents aiivitable.'tfin doubt as to iXgents duties or:li Hiles under -this
<br />zs7
<br />ass Contract, Agent may. at Agent's option, contuwe to hold the sub;ect matter of the escrow until the parties agree to is 237 clrsbursement of unfit a final judgment of a court of competent juhfsdictiori shall determine the 'tilts of the pante. or 26B Agent may deer same w h the clerk of the cirou t court having jurisdicfron of the dispute. An atnomey wito represents
<br />a party and also acts as Agent may represent such party in such action. Upon rrob'iymg all parties concerned of such
<br />263 action, ell liability on the part of Agent shall fully terminate, accept to the extent of accounting for any gems previously
<br />z7o delivered out of escrow, If a licensed real estate broker, Agent will comply will provlsionS of Chapter 475, F.S., as
<br />i71 amended and FREC rules to timely resolve escrow disputes through rnedlattiore argon, Interpleader or an escrow
<br />m cfisbutsement order.
<br />zrs Any proceeding between Buyer and Seller wherein Agent Is made a party because of acting as Agent hereunder, or in
<br />275
<br />275 any proceeding where Agent hterpleads the subject matter of the escrow, Agent shall recover t�eeasoriabe.e aticmey's
<br />fees and costs Encazred, to be paid pi suant tc court order out of the escrowed funds or equivalent. Agent shag not be
<br />270 liable to any party or person for mis-delivery of any escrowed items, unless such mis,deitvery is due to Agent's vrr7tiu!
<br />b
<br />277 reach of this Contractor Agents gross negligence. This Paragraph 13 shall sainilVe Closing or ten'aination of this
<br />27B Contract.
<br />278 14. PROFESSIONAL ADVICE: BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition, square
<br />zBo footage, and an other facts and representations made pursuant to this Contract and to consult appropria+s professionals
<br />2B1 for legal, t xrn
<br />, environett 1, and other spedconcerning aitzed advice conceng matters affecting the Property and the transed:ion
<br />282 contemplated by this Contract. Broker represents to Buyer that Broker does not reside on the Property and that all
<br />zea representations (oral, written or otherwise) by Broker are based on Seller representations or public records. BUYER
<br />2Q4 AGREES TO RELY SOLELY ONSELLER, PRO ESSJDNAL INSPECTORS ANI] GOVERNMENTAL AGENCIES
<br />.ss FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND FACTS THAT MATERIALLY AFFECT
<br />ass PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) OF BROKER.
<br />Ewes InAiars Page 5 of 11 Se1l8r'3 frill is
<br />notldaReahorsrPlaridaBat ASI., -2 Rev.WI3 02013 Florida Redtccsoand The Fbdda Bar, fill rights reserved. _
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