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<br />XI. ASSIGNABILITY: (CHECK ONLY ONE): Buyer [] may assign and thereby be released from anyftrrther liability under this Contract; ® mayassigh
<br />but not be released from liability tinder this Contract; or R maynot assi®h this Contract.
<br />III. DISU"URES:
<br />(a) Radon is a naturally occurring radioactive gas that when accumulated in a building 4i sufficient quantities may present health risks to persons who are
<br />exposedto itover time. Leveis ofradon that exceed federal and state guidelines have beern found in buildingu in Florida. Additional information regarding
<br />Radon or Radon testing maybe obtained from your County Public Health unit.
<br />(b) Duyer mayhave determined the energy efficiency ratingofthe residential buildin& ifany is located on the Real Property.
<br />(c) Ifthe Real Property includes pre-1978residential liotlsingihen Paragraph X (h) is mandatory.
<br />XIU. MAXIMUM REPAIR".)STS: Seller shall not be responsible fin• the payment of costs in excess of
<br />(a) $ for treatment and repair under Standard D (if blank, then 2% ofthe Purchase Price).
<br />(b) $ N/A fpr repair and replacement under Standard N (if blank, then 3% ofthe Purchase Price).
<br />XIV. SPECIAL CI,AUSE.S: If additional space is required, attach addendum and CHECK HERE
<br />THIS IS iNTENDED.T( DVAd L W%,ALLV BINDING CONTRACT. IF NOT F111,LV UNDERSTOOD, SEEK THEADVICF. OF AN ATTORNEV
<br />PRIOR TO SIG,'i j1VI S BEEN APPROVED BY TIP', FLORIDA ASSOCIA'T'ION OF REALTORS AND THE FLORIDA BAR.
<br />Approval does-hhq Lute :on lniohr that any of the terms and conditions in this Contract .should be accepted by the parties in a particular transaction.
<br />Terms an coc ip ould[*hjego Wed upon the respedive interests, objectives and bargaining positions ofall interested persons.
<br />- /am
<br />(Buyer) aro yn K. t (Da e) eller Lothar ®ran (Dat
<br />O
<br />Social Sectiir,'ax�I.I?r �� Social S tr or ax I. . E
<br />(Bum) Wiff l iu'fi N4Epjer (Date) (Sell Paul tte zaran (Date)
<br />Social SecurityorTaxI.D. # E ght—old=Nay ,"n_ Social Security or Tax I.D. #
<br />Deposit under Paragraph Il (a) received; IF OTHER THAN CASH, Tl Il;N SUBJECT TO CLEARANCE.
<br />(Escrow Agent)
<br />BROKER'S FEE: The brokers named below, including listingand coop crating brokers, are the only brokers entitled to compensation in connection with this
<br />Contract:
<br />Name - - - �_. NZA
<br />Listing Broker
<br />Cooperating Brokers, ifany
<br />STANDARDS FOR REAL ESTATE TRANSACTIONS
<br />A. Evidence ofTide: (I) An abstract oftitle prepared or brougf ht current by a reputable and existing abstract firm (if not existingthen certified as correct by an
<br />existing firm)purportingto be an accurate synopsis ofthe instruments affectingtitleto the Real Property recorded in the publicreeords ofthe countywherein the
<br />Real Property is located through Effective Date. It shall commence with the earliest public records, or such tater date as maybe custorn-ary in the county. Upon
<br />dosing ofthis Contras, the abotract shall become. the propeety of Buyer, subjectto the right of retention thereofby first mortpSee until fully paid. (2) Atitle
<br />insurance commitment issued by a Florida licensed title insurer agreeingto issue Buyer, upon recording ofthe deed to Buyer, an owner's policyof title insurance
<br />in the amount ofthe purchase price, insuringBuyer'stitleto the Real Property, subject onlyto liens, encumbrances, exceptions or qualifications provided in this
<br />Contractand those to be discharged by Seller at or before dosing Seller shall eonveyniarketable title subject onlyto liens, encumbrances, exceptions or gtualificatt-
<br />ions provided in this Contract. Marketable title shall be determined aeeordingto applicable Title Standards adopted by authority of The Florida Bar and in accord-
<br />ance withh law. Buyer shall have 30 days, ifabstrad, or 5 days, if title commitment, from date of receiving evidence oftitle to examine it. If title is found defective,
<br />Buyer shall within 3 daysthereafier, notify Seller in writingspecifyingthe defect(s). If defects) render title unmarketable, Seller will have 30days from receipt of
<br />notieeto rem ovethe defects, failing which Buyer shall, within five (5) days after expiration of the thirty (30) day period, deliver written notice to Seller either: (1)
<br />extending thetime for a reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of
<br />deposit(s) paid which shall be immediately returned to Buyer. If Buyer failsto so notify Seller, Buyer shall be deemed to have accepted thetitle as it then is. Seller
<br />shall, iftitle is found unmarketable, use diligent effort to corred defed(s)within the time provided therefor. IfSeller is unableto timelyeorredthe defects, Buyer
<br />shall either waive the defects, or receive a refund ofdeposit(s), thereby releasing Buyer and Seller from all further obligation under this Contras.
<br />Be Paidume MoneyModpige; Security Agmementto Seller. Apurchase moneymortgage and mortgagenote to Seller shall provide for a 30 -day grace period in
<br />the event of default ifa first mortgage and a 15-daygraeeperiod if a second or lesser mortgage; shall provide for right ofprepayment in whole or in part without
<br />penalty; shall permit acceleration in event oftransfer ofthe Real Property; shall require all prior liens and encumbraneesto be kept in good standingand forbid
<br />modifications ofor future advances under prior mortgage(s); shall require Buyer to maintain policies of insurance containing a standard mortgagee clause covering
<br />all improvements located on the Real Property against fire and all perils included within the term "extended coverage endorsements" and such other risks and
<br />perils as Seller may reasonable require, in an amount equal to their highest insurable value; and the mortgage, note and security agreement shall be otherwise in
<br />form and content required by Seller; but Seller mayonlyrequire clauses and coverage customarily found in mortgages, mortgage notes and security agreements
<br />generally utilized bysavinga and loan institutions or state or national banks located in the cotintywherein the Real Property is located. All Personal Property and
<br />leases being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evidenced by recorded fin an cing statements. If a balloon
<br />mortgage, the final payment will exceed the periodic payments thereon.
<br />C: Survey: Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, mayhavethe Real Property surveyed and certified by
<br />a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback lines, ease-
<br />ments, lands ofothers or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect.
<br />D. Tenrilim: Buyer, at Buyer's expense, within the time allowed to deliver evidence of title, mayhave the Property inspected by a Florida Certified Pea Control
<br />Operator ("Operator")to determine if there is any visible active termite infestation or visible damage from termite infestation in the Property. If either or both are
<br />found, Buyer shallhave 4days from date of written notice thereofwithin which to have cost of treatment, if required, estimated by the Operator and all damage in-
<br />spected and estimated by a licensed builder or general contractor. Seller shall pay valid costs of treatment and repair of all damage up to the amount provided in
<br />Paragraph XIII(a). Ifestimated costs exceed that amount, Buyer shall havethe option of rnncelingthisContract within 5 days after receipt of contractor's repair
<br />estimate by givingwritten noticrato Seller or Buyer mayelectto proceed with the transaction, and receive a credit at closingon the amount provided in Paragraph
<br />XIII(a). '"Termites" shall be deemed to include all wood destroying organisms required to be reported underthe Florida Pest Control Act, as amended.
<br />L. Japmand Egmss: Seller warrants and represents that there is ingress and egressto the Real Property sufficient for its intended use as described in Paragraph
<br />VII hereog titleto which is in accordance with Standard A.
<br />F. Lamm: Seller shall, not lessthan 15 days before dosing furnish to Buyer copies ofall written leases and estoppel letters from each tenant specifyingthe nature
<br />and duration ofthetenant's occupancy, rental rates, advanced rent and security deposits paid bytenant. If Seller is unable to obtain such letter from each tenant,
<br />the same information shall be furnished by Seller to Buyer within that time period in the form of Seller's affidavit, and Buyer may thereafter contact tenants to
<br />confirm such information. Seller shall, at dosing, deliver and assign all original leases to Buyer.
<br />G.1kn s: Seller shall furnish to Buyer attime of dosing an affidavit attestingto the absence, unless otherwise provided for herein, of any financing statement,
<br />claims of lien orpotential lienors known to Seller and further attestingthat there have been no improvements or repairs to the Real Property for 90 days immed-
<br />istelypreaedingdstoofdosing, Ifthe Real Propertyhasbeen improved or repaired with in that time, Seller shall deliver releases or waivers of construction liens
<br />executed by all general contractors, subcontractors, suppliers and materialmen in addition to Seller's leen affidavit settingfoith the names of all such general con-
<br />tractors, subcontractors, suppliers and materialmen, further afTrmingthat all charges for improvements or repairs which could serve; as a basis for a construction
<br />lien or a claimfor damages have been paid orwill be paid attire ciosingofthisContract.
<br />IL Pim ofclosing: Closing shall beheld in the county wherein the Real Property is located at the office ofthe attorney or other dosing agent designate -d by Seller.
<br />FAR/BAR-4 Revised 12/95 (C) 1994, Florida Association ofRealtors(R) P.O. Box 725025 Orlando, Florida 32572-5025 All Rights Reserved Page 2 of
<br />7his fornn is licansed for use by 180 -McAllister Publishing 303-546-6355
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