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transaction and all payments or disbursements made shall be an accurate reflection of the parties' agreement, that each party should pay all costs and expenses contemplated by their agreement, and that Closing Agent shall be relieved of the burdens of Section 697.10,Florida Statutes, by this Agreement. 9. Title Insurance. Buyer hereby represents that Buyer has received the commitment for title insurance issued in conjunction with this transaction, and has had the opportunity to review the same prior to closing, and has received copies of those instruments of record referenced in the commitment. 10. Survey. Buyer hereby represents that Buyer has obtained a survey in conjunction with this transaction, and acknowledges that Buyer has had an opportunity to review the same prior to or at the time of closing this transaction. 11. Suitability of Property and Improvements. Closing Agent has not made and does not make any inquiries, investigations or representations as to the (i) physical condition, quality of construction of any improvements and the quality of materials to be or already incorporated into any improvements; (ii) expenses, operation, maintenance, profit, rents, loss or use to which the property or any part thereof may be or has been utilized; (iii) merchantability and fitness of the improvements, buildings, or personal property contained therein and included in the conveyance; (iv) condition of the property, which includes, but is not limited to, latent and patent conditions, the presence or release of hazardous or toxic wastes, substance and materials on or from the property or any adjoining property; subsoil conditions; storm water drainage conditions. This provision is no way intended to limit the representations and/or warranties extended by parties,other than Closing Agent, under law or the contract in conjunction with this transaction. 12. Estimate. Closing Agent strives to compile a precise and accurate settlement statement in conjunction with the closing of this transaction. However, occasionally certain cost and expenses directly related to this transaction are estimated and based on limited information available to Closing Agent at the time of preparing the settlement statement, which results in settlement charges that exceed the actual charge (i.e. cost of recording documents, cost of repairs and inspections, etc.). Due to the administrative burden and cost of refunding monies to parties involved in the transaction, the policy of Closing Agent is only to reimburse overpayments totaling more than twenty-five dollars ($25.00). Overpayments totaling such amount or less shall be applied to offset additional post-closing administrative costs created by the overpayment and remain the property of Closing Agent. 13. Tax Reassessment. Buyer should not rely on the amount utilized by Closing Agent in determining the real estate tax proration as the tax amount Buyer will be obligated to pay in future years. A CHANGE IN OWNERSHIP MAY TRIGGER REASSESSMENT of the Property to market value. Florida Law (Amendment 10 to the Florida Constitution) provides an annual 3% maximum assessment increase on homestead properties; the limitation applies only after the reassessment has been made (Amendment 10 Base Value). This limitation may have kept Seller's real estate taxes at or below market rate. To estimate a homestead real estate tax obligation in the first year after purchase, reduce the purchase price of the Property (assuming it is market value) by the $50,000 homestead exemption, then multiply the result by the applicable real estate tax millage rate. Please contact the applicable Property Appraiser's Office or your legal advisor should you have any questions regarding exemption and property valuation issues. 14. Homestead. Buyer acknowledges that, if this Property qualifies for homestead tax exemption, an application must be filed with the county tax collector no later that the last day of February of the year immediately following settlement, and that such filing is the sole responsibility of Buyer. If homestead exemption was claimed on the Property by Seller at any time during Seller's ownership, then Seller acknowledges that the granting of the exemption was proper, and if the homestead exemption is later denied, Seller will hold Closing Agent and Buyer harmless from the payment of any additional tax or penalty assessed. [Signatures To Follow] ]Authorization to Close -Page 2 File Number: 1807-004