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37' (b) Location: Closing will take place in fndian River County. Florida. (If left blank, closing 39 will take place in the county where the property is located.) Closing may be conducted by mail or electronic means. 39 5. THIRD PARTY FINANCING: 4o• BUYER'S OBLIGATION: Within days (5 days if left blank) after Effective Date, Buyer will apply for third party 41• financing in an amount not to exceed % of the purchase price or $ , with a fixed interest rate 42• not to exceed _p/o per year with an initial variable interest rate not to exceed _ %, with points or commitment 43' or loan fees not to exceed % of the principal amount, for a term of years, and amortized over 44 years, with additional terms as follows: 45- 46 'Buyer will timely provide any and all credit, employment, financial and other information reasonably required by any 47• lender. Buyer will use good faith and reasonable diligence to Of obtain Loan Approval within _ days (45 days H 4e left blank) from Effective Date (Loan Approval Date), (i1) satisfy terns and conditions of the Loan Approval, and 4a (IIT? close the loan. Buyer will keep Seller and Broker fully informed about loan application status and authorizes the N mortgage broker and lender to disclose all such Information to Seiler and Broker. Buyer will notify Seller immediately at upon obtaining financing or being rejected by a lender. CANCELLATION: If Buyer, after using good faith and s2• reasonable diligence, fails to obtain Loan Approval by Loan Approval Date, Buyer may within _ days (3 days If left ss blank) deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract. s4 If Buyer does neither, then Seller may cancel this Contract by delivering written notice to Buyer at any time ss thereafter. Unless this financing contingency has been waived, this Contract shall remain subject to the se satisfaction, by closing, of those conditions of Loan Approval related to the Property. DEPOSIT(S) (for purposes sr of Paragraph 5 only): If Buyer has used good faith and reasonable diligence but does not obtain Loan so Approval by Loan Approval Date and thereafter either party elects to cancel this Contract as set forth above or the s9 lender fails or refuses to close on or before the Closing Date without fault on Buyer's part, the Deposit(s) shall be ao returned to Buyer, whereupon both parties will be released from all further obligations under this Contract, except for e1 obligations stated herein as surviving the termination of this Contract. If neither party elects to terminate this Contract 62 as set forth above or Buyer fails to use good faith or reasonable diligence as set forth above, Seller will be entitled to 63 retain the Deposit(s) If the transaction does not close. e4- B. TITLE: Seller has the legal capacity to and will convey marketable title to the Property by❑ statutory warranty es• deed X other. County Deed , free of liens, easements and encumbrances of record or es known to Seller, but subject to property taxes for the year of closing; covenants, restrictions and public utility e7 easements of record; existing zoning and governmental regulations; and (list any other matters to which title will be ee• subject) W 70 provided there exists at closing no violation of the foregoing and none of them prevents Buyer's intended use of the 7t• Property as xM 9th Street; S. W., Vero Beach, FL 72 (a) Evidence of Title: The party who pays the premium for the title insurance policy will select the closing agent 7s• and pay for the title search and closing services. Seller will, at (check one) ❑ Seller's X Buyer's expense and 74' within 15 days 13 after Effective Date 13 or at least days before Closing Date deliver to Buyer (check one) 75• 0 (i.) a title insurance commitment by a Florida licensed title insurer setting forth those matters to be 7e discharged by Seller at or before Closing and, upon Buyer recording the deed, an owner's policy in the amount 77 of the purchase price for fee simple title subject onlyto exceptions stated above. If Buyer is paying for the 78 evidence of title and Seller has an owner's policy, Seller will deliver a copy to Buyer within 15 days after 7D Effective Date. ao• ❑ (il.) an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an at existing firth. However, If such an abstract is not available to Seller, then a prior owners title policy acceptable 02 to the proposed insurer as a base for retssuance of coverage may be used. The prior policy will include copies 93 of all policy exceptions and an update in a format acceptable to Buyer from the policy effective date and 04 certified to Buyer or Buyer's closing agent together with copies of all documents recited in the prior policy and as in the update. If such an abstract or prior policy is not available to Seller then (t.) above will be the evidence of as title. e7 (b) Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller as of title defects. Title will Jke de cceptabie to Buyer if (1) Buyer fails to deliver proper notice of defects or a0• Buyer""A "and Seller ecknowledga receipt of a copy of this page, which is Page 2 of 8 Pages. CC+1 Rov. IVID 02010 FlarWo Assodallon of REALTORS* All Rights Recarved Licensed in Aha Star 8aftare and ID: D-1336151166.0O2S.120322 Software and added formatting 0 2918 Alta Star Software, all rights reserved. • www.altastar.com • (877) 279,8898