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STANDARDS FOR REAL ESTATE TRANSACTIO WS ("STANDARDS") CONTINUED
<br />346 assumed mortgages and purchase money mortgages, if any (if additional items. attach addendum); provided, that, none
<br />348 prevent use of Property for RESIDENTIAL PURPOSES. If there exists at Closing any violation of Hems identified in (b)
<br />347 — (f) above, then the same shail be deemed a title defect. Marketable title shall be determined according to applicable
<br />ass Title Standards adopted by authority of The Florid Bar and in accordance with taw.
<br />340 (It) TITLE EXAMINATION: Buyer shall have 6 days after receipt of Title Commitment to examine It and nofy Seller in
<br />350 writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it is detivened
<br />351 to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after date of receipt to
<br />g52 examine same in accordance with this STANDARD A. Seller shall have 30 days ("Cure Period") after receipt of Buyer's
<br />sea notice to take reasonable diligent efforts to remove defects. If Buyer falls to so notify Seiler, Buyer shall be deemed to
<br />ssi have accepted title as ft then is. if Seller cures defects within Cure Period, Seller will deliver written notice to Buyer (With
<br />855 proof of cure acceptable to Buyer end Buyer's attorney) and the parties wet close this Contract on Closing Date (or if
<br />ass posing Date has passed, within 10 days after Buyers receipt of Seller's notice). If Seller is unable to cuss defects
<br />sr within Cure Period, then Buyer may, within 6 clays after expiration of Cure Period, deliver written notice to Seller: (a)
<br />ass extending Cure Period for a specified period not to exceed 120 days within which Seller shell continue to use
<br />te9 reasonable diligent effort to remove or curs the defects ('Extended Cure Period); or (b) electing to accept title
<br />No existing defects and close this Contract on Closing Date (or if Closing Date has passed, Within the earlier of 10 days
<br />361 after end of Extended Cure Period or Buyer's receipt of Seller's notice), or (c) electing to terminate this Contract and
<br />362 receive a refund of the Deposit, thereby releasing Buyer and Seller horn a further obligations under this Contract. if
<br />sea after reasonable diligent effort, Seller 1s unable to timely cure dcts, and Bayer does not waive the defects. this
<br />364 Contract shed terminate, and Buyer shall receive a refund of the Deposit, thereby releasing Buyer and Seller from all
<br />ass further obligations underthis Contract
<br />sae B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon encroach
<br />357 on setback lines, easements, or lands of others, or violate any restrictions, covenants, or applicable governmental
<br />ase regulations desonlied in STANDARD A (i)(a), (b) or (d) above, Buyer shall deliver written notice of such matters,
<br />see together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later than Closing. If Buyer
<br />aro timely delivers such notice and Survey to Seiler, such matters identified in the notice and Survey shall constitute a title
<br />sn defect subject to ours obligations of STANDARD A above. If Seller has delivered a prior survey, Seller shall, at Buyer's
<br />ail request, execute an affidavit of 'no change" to the Real Properly since the preparation of such prior survey, to the
<br />373 extent the affirmations therein are tnie and correct.
<br />3T4 C. INGRESS AND EGRESS: Seller represents that there Is tigress and egress to the Real Property and title to the
<br />an Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access.
<br />376 D_ LEASE INFORMATION: Seiler shall, et least 10 days prior to Closing, furnish to Buyer estoppel letters from
<br />377 tenatrt(s)(occupent(s) specifying nature and duration of occupancy, rental rates, advanced rant and security deposits
<br />878 paid by tenants) or occupant(sX' stopper Letter(s))). if Seiler is unable to obtain such Estoppel Letter(s) the same
<br />are information shall be furnished by Seller to Buyer within that time period in the forrn of a Seller's affidavit and Buyer may
<br />sec thereafter contact tenants) or occupant(s) to confirm.such information. If Estoppel Letters) or Seller's affidavit, if any,
<br />381 drier mate felly from S+ellera repre.aargatiees, and Mase(s) provided pursuant to Paragraph , or if tanant(s)loccupant(s)_
<br />$82 fa or refuse to confirm Sellie?s affidavit, Buyer may deliver wrttfen notice to Seller within 6 days after receipt of such
<br />383 information. but no later than 5 days priorto Closing Date, terminating this Contract and receive a refund of the Deposit,
<br />Baa thereby releasing Buyer and Seiler from all further obligations under this Conb act. Seiler shall, at Closing, deliver and
<br />386 assign ail teases to Buyer who shell assume Seller's obligations thereunder..
<br />see E. LIENS: Seller shaft furnish to Buyer at Closing an affidavit attesting (t) to the absence of any financing staterrrar+t,
<br />387 claims of fen or potential tenors Smoan to Seller and (ti) that there have been no Improvements or repairs to the Real
<br />els Property for 90 days immediately preceding Closing Date. if the Real Property has been improved or repased within
<br />say that time, Seller shall deriver releases or waivers of constuotio,n Tien executed by alt genera contractors,
<br />Seo subcontractors, suppliers and matertalmen In sdcltion to Seller's lien affidavit setting forth names of all such general
<br />Sen contractoas, subcontractors, suppliers and materlalmen, further affirming that all charges for:I provements or repairs
<br />era which could serve as a basis fora construction Tien ora claim for damages have been paid or will be paid at Closing.
<br />393 F. TIME: Calendar days shall be used in computing time periods. Time Is of the essence In tats Contract.
<br />Sas Other than time for acceptance and Effective Date as set brat in Paragraph 3, any time periods provided for or dates
<br />ass specified in this Contract, whether preprinted, handwritten, typewrrlten or inserted herein, which shaft end or occur on a
<br />998 Saturday, Sunday, or a national legal holiday (see 5 U.S.G. 6103) shall extend to 5:00 pan. (where the Property is
<br />Sas located) of the next business day.
<br />326 G. FORCE MAJELIRE: Buyer or Seiler shall not be required to petfonn any obligation under this Contract or be liable
<br />SO to each other for damages so long as performance or non-performance of the obligation is delayed, caused or
<br />400 prevented by Force Majeure. "Force Majeure" Means: hurricanes, earthquakes, floods, fire, acts of God, unusual
<br />401 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control of Buyer
<br />402 or Seller, and which, by: exercise of reasonable dilTgant effort, the non-performing party is unable In whole or In part to
<br />493 prevent or overcome. All time periods, Including hosing Date, wtil be extended for the period that the Force Majeure
<br />404 prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent perfo, mance
<br />Buyer's Initials Pao.? of 11 SeBe's Initis
<br />FrofidaRs>rtorsJFicrkieSer'ASIS'2 Ro .e/1302012 Florida Reeitors•end Me Runde Bar. Alt babes reserved.
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