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57 (b) If extreme weather or other condition or event constituting "Force Majeure" (see STANDARD G) causes: (i) 58 disruption of utilities or other services essential for Closing or (ii) Hazard, Wind, Flood or Homeowners' insurance, Niew 59 to become unavailable prior to Closing, Closing shall be extended a reasonable time up to 3 days after restoration 60 of utilities and other services essential to Closing and availability of applicable Hazard, Wind, Flood or 61 Homeowners' insurance. If restoration of such utilities or services and availability of insurance has not occurred 62* within (if left blank, then 14) days after Closing Date, then either party may terminate this Contract by 63 delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby releasing Buyer and 64 Seller from all further obligations under this Contract. 65 6. OCCUPANCY AND POSSESSION: 66 (a) Unless the box in Paragraph 6(b) is checked, Seller shall, at Closing, deliver occupancy and possession of the 67 Property to Buyer free of tenants, occupants and future tenancies. Also, at Closing, Seller shall have removed all 68 personal items and trash from the Property and shall deliver all keys, garage door openers, access devices and 69 codes, as applicable, to Buyer. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to the 70 Property from date of occupancy, shall be responsible and liable for maintenance from that date, and shall be 71 deemed to have accepted the Property in its existing condition as of time of taking occupancy. 72* (b) ❑ CHECK IF PROPERTY IS SUBJECT TO LEASE(S) OR OCCUPANCY AFTER CLOSING. If Property is 73 subject to a lease(s) after Closing or is intended to be rented or occupied by third parties beyond Closing, the facts 74 and terms thereof shall be disclosed in writing by Seller to Buyer and copies of the written lease(s) shall be 75 delivered to Buyer, all within 5 days after Effective Date. If Buyer determines, in Buyer's sole discretion, that the 76 lease(s) or terms of occupancy are not acceptable to Buyer, Buyer may terminate this Contract by delivery of 77 written notice of such election to Seller within 5 days after receipt of the above items from Seller, and Buyer shall be 78 refunded the Deposit thereby releasing Buyer and Seller from all further obligations under this Contract. Estoppel 79 Letter(s) and Seller's affidavit shall be provided pursuant to STANDARD D. If Property is intended to be occupied 80 by Seller after Closing, see Rider U. POST-CLOSING OCCUPANCY BY SELLER. 81' 7. ASSIGNABILITY: (CHECK ONE): Buyer 9 may assign and thereby be released from any further liability under this 82* Contract; ❑ may assign but not be released from liability under this Contract; or ❑ may not assign this Contract. 83 FINANCING 84 8. FINANCING: 85* ❑ (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing contingency to 86 Buyer's obligation to close . 87* 0 (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a 0 conventional ❑ FHA 0 VA N... 88• or ❑ other (describe) loan on the following terms within (if left blank, then 30) days after 89* Effective Date ("Loan Commitment Date") for (CHECK ONE): 9 fixed, ❑ adjustable, 0 fixed or adjustable rate loan in 90- the Loan Amount (See Paragraph 2(c)), at an initial interest rate not to exceed % (if left blank, then prevailing 91* rate based upon Buyer's creditworthiness), and for a term of (if left blank, then 30) years ("Financing"). 92* 93 94 95 96 97 98 99 100 101 102 103 Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days after Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing ("Loan Commitment") and thereafter to close this Contract. Buyer shall keep Seller and Broker fully informed about the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and Buyer's lender to disclose such status and progress to Seller and Broker. Upon Buyer's receipt of Loan Commitment, Buyer shall provide written notice of same to Seller. If Buyer does not receive Loan Commitment by Loan Commitment Date, then thereafter either party may cancel this Contract up to the earlier of: (i.) Buyer's delivery of written notice to Seller that Buyer has either received Loan Commitment or elected to waive the financing contingency of this Contract; or (ii.) 7 days prior to Closing Date. 104 If either party timely cancels this Contract pursuant to this Paragraph 8 and Buyer is not in default under the terms of 105 this Contract, Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under 106 this Contract. If neither party has timely canceled this Contract pursuant to this Paragraph 8, then this financing 107 contingency shall be deemed waived by Buyer. 108 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not thereafter close, the 109 Deposit shall be paid to Seller unless failure to close is due to: (1) Seller's default; (2) Property related conditions of the 110 Loan Commitment have not been met (except when such conditions are waived by other provisions of this Contract); (3) 111 appraisal of the Property obtained by Buyer's lender is insufficient to meet terms of the Loan Commitment; or (4) the 112 loan is not funded due to financial failure of Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, '13 thereby releasing Buyer and Seller from all further obligations under this Contract. Buyer's Initials Page 2 of 11 Seller's Initials FloridaRealtors/FloridaBar-ASIS-2 Rev.8/13 © 2013 Florida Realtors® and The Florida Bar. All rights reserved. Senal#: 079677-200140-6020955 _ - 192