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300 ESCROW AGENT AND BROKER 301 15. ESCROW AGENT. Buyer and seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow 302 and, subject to clearance, disburse them upon proper authorization and in accordance with Florida law and the terms of this 303 Contract, including disbursing brokerage fees. The parties agree that Escrow Agent will not be liable to any person for misdelivery 304 of escrowed Items to Buyer or Seller, unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross nos negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the 306 deposit and will recover reasonable attorneys' fees and costs to be paid from the escrowed funds or equivalent and charged and 307 awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated, so long as Escrow Agent 308 consents to arbitrate. 309 16. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify all facts and representations that are 310 important to them and to consult an appropriate professional for legal advice (for example, Interpreting contracts, determining 311 the effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, the effect of property 312 lying partially or totally seaward of the Coastal Construction Control Line, etc.) and for tax, property condition, environmental and 313 other spedalized advice. Buyer acknowledges that Broker does not reside in the Property and that all representations (oral, 314 written or otherwise) by Broker are based on Seller representations or public records. Buyer agrees to rely solely on Seller, 315 professional inspectors and governmental agencies for verification of the Property condition and facts that materially 316 affect Property value. Buyer and Seller respectively will pay all costs and expenses, including reasonable attorneys' fees at all 317 levels, incurred by Broker and Broker's officers, directors, agents and employees in connection with or arising from Buyer's or 318 Seller's misstatement or failure to perform contractual obligations. Buyer and Seller hold harmless and release Broker and 319 Broker's officers, directors, agents and employees from all liability for loss or damage based on (1) Buyer's or Seller's 320 misstatement or failure to perform contractual obligations; (2) Broker's performance, at Buyer's and/or Seller's request, of any 321 task beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral, recommendation or 322 retention of any vendor; (3) products or services provided by any vendor; and (4) expenses incurred by any vendor. Buyer and 323 Seller each assume full responsibility for selecting and compensating their respective vendors. This paragraph will not relieve 324 Broker of statutory obligations, For purposes of this paragraph, Broker will be treated as a party to this Contract. This paragraph 325 will survive closing. 326 17. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as "Broker." Instruction to Closing 327 Agent: Seller and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified In separate 328 brokerage agreements with the parties and cooperative agreements between the brokers, except to the extent Broker has 329 retained such fees from the escrowed funds. In the absence of such brokerage agreements, closing agent will disburse brokerage 330 fees as Indicated below. This paragraph will not be used to modify any MLS or other offer of compensation made by Seller or 331 listing broker to cooperating brokers. 333' 333' Selling Soles Assoclote/UcenseNo. Selling Firm/Brokerage Fee: ($or%ofPurchosePriee) 334' 335' Listing SolesAssociate/Licelse No. Listing Firm/Brokerage lee: (S or9b of Purchase Pike) 336 ADDITIONAL TERMS 337. 18. ADDITIONAL TERMS: 338' 339' 340' 341' 347' 343' 344. 345' .. 346' 347• 348' 349' 350• 351' 357.' 353• 354' 355' 356• 357• 358' Buyer tteo.4/07 47 it) ( ) and Selle ) (_VI acknowledge receipt of a copy of this page, which is Page 6 of 7 Pages. Florida Association of Rcncr095 1 Rights Reserved Se1316. 094306400136-3964416