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228 12. PROPERTY INSPECTION; RIGHT TO CANCEL:
<br />229• (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have (if left blank, their 15) days
<br />230 alter Effective Date ("Inspection Period') within which to have such inspections Of the Property performed
<br />231 as Buyer shall desire during the inspection Period if Buyer determines, in. Buyer's sole discretion, that the
<br />232 Property Is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice of such
<br />233 election to Seller prior to expiration of inspection Period If Buyer timely terminates this Contract. the
<br />234 Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all further
<br />xis obligations under this Contract however, Buyer shall be responsible for prompt payment for such
<br />236 inspections, for repair of damage to, and restoration of, the Property resulting from such inspections, and
<br />shall provide Sailer with paid receipts for ail work done on the Property (the preceding provision shall
<br />238 survive termination of this Contract). Unless Buyer exercises the right to terminate granted benzin, Buyer
<br />739 accepts the physical condition of the Property and any WoJation of governmental, bullring, environmental,
<br />sac .and safety codes, restrictions, or requirements, but subject to Seller's continuing AS IS Maintenance
<br />2., Requirement and Buyer shaft be responsible for any and ail repairs and Improvements required by Buyer's
<br />242 lender.'
<br />ars (b) WALK-THROUGH INSPECTION/RE-INSPECTION: On the day prior to Closing Date, or on Closing Dale prior to
<br />244 time of Closing, as specified by Buyer, Buyer or Buyer's representable may perform a walk-through (and %IIow-up
<br />245 walk-throUgh, If necessary) inspection of the Property solely to confirm that all kerns of Personal Property are on the
<br />246 property and to verify that Seller has maintained the Property as required by the AS IS Maintenance Requirement
<br />247 and has met all other contractual obligations.
<br />248 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS: If Buyer's inspection of
<br />249 the Property Identifies open or needed building permits, then Sailer shall promptly delver to Buyer al) plans, written
<br />2so documentation or other information in Seller's possession, knowledge, or control relating to improvements to the
<br />251 Property which are the subject of such open or needed Permits, and shall promptly a operate In good faith With
<br />252 Buyer's efforts to obtain estimates of repairs or other work neceseary to resolve such Permit Issues_ Sellers
<br />253 obligation to cooperates shall include Seller's execution of necessary authorizations, consents, or other documents
<br />254 necessary for Buyer to conduct Inspections and have estirnates of such repairs or work prepared, but in futfilfing
<br />lbs such obligation, Seller shall not be required to expend, or become obligated to expend, any money.
<br />asci (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and cost,
<br />est Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties to Buyer.
<br />25a ESCROW AGENT AND BROKER
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<br />43. ESCROW AGENT: Any Closing Agent or Escrow Agent (coltecevely °Agent') receiving The Deposit, other funds and
<br />other teems is authorized, and agrees by acceptance of them, to deposit them promptly, hold same b escrow within the
<br />State of Florida and, subject to COLLECTION, disburse there In accordance with terms and conditions of this Contract.
<br />Failure of funds to become COLLECTED shell not excuse Buyers performance. When conflicting demands far the
<br />Deposit are received, ar Agent has a good faith doubt as to err6tlernent to the Depos,"k, Agent may take such actions
<br />permitted by this Paragraph 13, es Agent deems advisable..if'In doubt as to Kgeht's duties or liabilities under this
<br />Contract, Agent may, at Agents option, continue to bold the subject matter of the escrow until the parties agree to its
<br />disbursement or until a fine] judgment of a court of comps at judsdictiori shall determine the rights of the parties, or
<br />Agent rney depost same wdli the Berk of the circuit court having jurisdiction of the dispute. An attorney who represents
<br />a party and also acts as Agent may represent such party in such action. Upon notifying an pullets concerned of such
<br />action, all liability on the part of Agent shall fully terminate, except to the extent of amounting for any tears previously
<br />delivered out of escrow. If a licensed real estate broker, Agent Will comply with provisions of Chapter 475, F.S., as
<br />amended and FREC rules to timely resolve escrow disputes through mediation, arbttra1fon, Interpleader or an escrow
<br />disbursement order.
<br />Any proceeding between Buyer and Seller wherein Agent iss made a party because of acting as Agent hereunder, or in
<br />any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's
<br />fees and costs Incurred, to be paid pursuant to court order out of the escrowed funds or equ Natant. Agent shalt not be
<br />liable to any party or person for mis-delivery of any escrowed items, unless stash Iris -delivery Is due to Agent's willful
<br />breach of this Contract or Agent's gross negligence. This Paragraph 13 shall aurvNe Closing or termination of this
<br />Contract.
<br />14. PROFESSIONAL ADVI= BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition, square
<br />footage, and all other facts and representaarona made pursuant to this Contact and to consult appropriAte prdessionals
<br />for legal, tax, environmental, and other specialized advice concerning matters affecifig time Property and the transaoticn
<br />contemplated by this Contract. Broker represents to Buyer than Broker does not reside on the Property and that all
<br />representations (oral, written or otherwise) by Broker are based on Seller representations or public records. BUYER
<br />AGREES TO RELY SOLELY ON SELLER, PROPESSiDNAL INSPECTORS ANI] GOVERNMENTAL AGENCIES
<br />FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND FACTS THAT MiATERIALLY AFFECT
<br />PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) OF BROKER
<br />Swotsenitlals tape 6 of 11 8e9er's initials
<br />FiodclaReatrnrs/FlorideStoASIS-2 Rev.W1S fa 203 Ronda Realtacesnd The Florida Bar. An rights reserved.
<br />exkme aasrsa+ons-sesraor form s;irnplicit'
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