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STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") CONTINUED
<br />sae
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<br />assumed mortgages and purchase money mortgages, if any (if additional items. attach addenduerr); provided, that, none
<br />sprevent use of Property for RESIDENTIAL PURPOSES_ if there exists at Closing any violation of items identified in (b)
<br />rT — (f) above, then the same st.all be deemed a t11e defect l ani bfe iitie shall be determined according to applicable
<br />vas Tide Standards adopted by authority of The Florida Bar and he accordance v iii law.
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<br />s4& (i) TITLE EXAlt INATION: Buyer shall have 5 days after receipt of Title Commitment to examine ft and nofdy Seller In sus writing specifying defec(s), if any, that render title unmarketable. If Seller provides Tete Commitment and it is delivered =to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 3 days after lath of receipt to .3,53examine same in accordance with this STANDARD A. Seller shall have 30 days ("Cure Period') after receipt of Buyer's s5 notice to take. reasonable agent efferts to remove defects. If Buyer falls to so nobly Seiler, Buyer shalt be deemed to sus have accepted title ss is then is. if Seller cures detecs within Cure Period, Salter will deliver written notice to Buyer- (With ass proof of cure acceptable. to Buyer and Buyer's attorney) and the parties will close this Cohttect on Closing Date (or if aur Closing Date has passed, within 10 days ager Buyers rexipt of Seller's notice). if Seiler fs unable to cure de ects ,1,58 within Cure Perked, then Buyer may, within 5 days after expiration of Cure Period, deliver written no thtie to Seiler_ fa)
<br />extending Cure Period for a specified period not to exceed 120 days within which Seller shall continue be use
<br />also p reasonable diligent eftert to remove or cure the defects (*Extended Cure Period"); or (b) electing to accept title with
<br />existing defects and dose this Catered on Closing Date (or if Closing Date has til
<br />vex sex after end of Extended Cure Period or Buyer's receipt of Seller's not cs ore passed, within the center of 10 days
<br />receive a refund of the Deposit, thereby releesIng Buyer and Seiler from ell furtherbtigationcting to nss under this C�ract nate this Contract arid
<br />sea
<br />364 after reasonable difoennt effort, Seller Is unable to timely cure defects, and Buyer does not waive the detects, this acs Contract shall terminate, and Buyer shalt receive a refund of the Deposit; thereby releasing Buyer and Seller frtirn all
<br />further obGgalions underthis Contract
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<br />B. SURVEY: If Survey discloses encroachmens on the Real Property or teat improvements located thereon encroach
<br />son setback lines, easements, or lands of others, or violate any restrictions, covenants, or applicable governmental
<br />aregulasons dessrlbed In STANDARD A (r)(a), (b) or (d) above, Buyer shall deliver written notice of such riattte
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<br />.V a a together wiwitha copy of Survey, to Seller within 5 days after Buyer's receipt ofSurvey, but no later Than Closing. If Buyer
<br />371 tirnbey delivers such notice and Survey to Seller, such matters identified In the notice and Survey shall constitute a title s73 defer subject to cure obligations of STANDARD above; ffSeller has delivered a prior surrey, Seller shall, of Buyers 373 request, execute an affidavitaffidavitof "no change' to the Real Properly since the preparat5on of such prior sttlrvey, to the
<br />extent the af&msations therein are •true and correct
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<br />975
<br />C. INGRESS AND Et3RESSt Seller represents that there Is ingress and egress to the Rel 1 Property and title to the
<br />Real Property is insurable in acpordance tivlth STANDARD A without exon for lack of legal right of access.
<br />an D.. LEASE iNFORMATION: Seiler shell, at least 10 days prier to Closing, furnish to Buyer estoppel letters from
<br />ere
<br />erraret(s)loccupart(s) specifying nature and durafion of occupancy, rental rates, advanced rent and security deposits ars paid by tenant(s) or ocxupant(s)('Esteppel Letter(sp). If Sealer fs unable to obtain such Estoppel Letter(s) the same
<br />sae Information shall be furnished by Seller to Buyer within filet tiara period in the form of a Seller's affidavf't and Bayer may 381 thereafter contest lerrant(s) or occupant (s) to confinnsuc b information. Jf Estoppel Letter(s) or Sellers affidavit, if any,
<br />defer maternity from Seller's representations and feass(s) provided p, ursuantto Paragraph ar If teflons o
<br />ase fat or ruse to confulirj belief's ofd Buyer may deliver written notfe to Seller w-itiitn 6 da'ys iKer receipt of c
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<br />em information, but no later than 5 days prier-to Closing Date, tpxmbieting this Cordrac and receive a refund of the Deposit,
<br />ex theassign
<br />&toBuy; and Seller from all 'F Cher obligations under this Contract. Seller stria, at Closing, deliver and
<br />Buyer who shall assume Seller's obegations thereunder_
<br />397 E. claims of en m
<br />Ser shall furnish to Buyer at Closing an affidavit attesting 0) to the absence of any fxtancu)g s e nett,
<br />sss
<br />sea
<br />potential lienors le own to Seiler and (ii) that there have been no improvements or eepairs to the Real
<br />3a9Property for 90 days immediately preceding Closing Date. If the Real Property has been improved or repaired within
<br />o that time, Seller shall deliver releases or waivers at constr c on liens executed by all general c �„-�
<br />rrtra,
<br />xe o subcontractors, suppliers and materia mai In addition to Settees lien affsdavit setting forth names of all such general
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<br />contractors, subcontractors, suppliers and riu1erfalmen, further affirming That all charges for-improvensertls or repairs ase xfiich could serve ss a basis fora oensfruction.ren or a daIm for damages true been paid or will be paid at Closing,
<br />F. TIME: Calendar days shall be used in conxputlng time periods. Time Is of the essence In this Contract,
<br />ales
<br />sus Other than time foraoceptenca and Effective Date as set fatly In Paragraph 3, arty time periods provided for or dates ase specified In this Contract, whether preprinted, handwritten, typewritten or inserted herein, which she]) end or occur on a
<br />Saha-day, Sunday, or a national [egad holiday (see S U.S.C. 610;3) shall extend to 5:00 p.m. (whets the Property is
<br />located) ofthe next business day.
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<br />eta G, FORCE MAJEuRa Beer or Seller shall not be required to perform any obligator under this Conuact orbs Gable
<br />to each other for damages so Long as i erfrmia ce or non-performance of the oblfgaticn is delayed, caused or
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<br />atrt prevented by Force Majetre. F=orce Majeure" means: hurricanes, earthquakes, floods, fire, acts of God, unusual ao433.r t sportation delays, wars, Insu«e(, j ns, acts of terrorism, and any other cause not reasonably within control of Buyer 4s or Seller, and whit, by: exercise of reasonable drrgent effort, the non-oerfoorung partytax
<br />is able In whole or In part to
<br />404 prevent or overcome. All time periods, including Closing Date, wet be extended for the period that the Force Majeure
<br />prevents performance wider this Contract; provided, however. if succi Force Majeure ccerfinues to prevent p > ., r ale
<br />Buyer's rnrHars Cirsv'L-... Page 7 of 11 Seller's In
<br />F[aidaRsar /FlorksHar-4SM-2 Rev.B/is Z20iss Roride Reel s and'nle E1 "8da Bar. Ati riybts reserved.
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<br />form simplicity
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