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X1 ASMC.NABUJW:(CHE(.'K O',II,Y ONF:): Buyer [ j may assign and thereby be released from any finrtha liability under this Contract; i _ 1 MAYO-1110
<br />but no., be released from liability under this Cootred;orX may not assign this Contract.
<br />CIL DISCLOSURES:
<br />(a)Radon isa naturally occurring radioactive gas that when aam u[ated in abuilding in sufficient quanthieamay presentheahh risk'" persons who are
<br />egwsedlo itover time. Levels ofradon that exceed federal and dategtidelinen haveheeh found in buildinppih Florida. Additional infonrution regarding
<br />Radon or Radon testing may be obtained fiomyour County Publicileahhuph.
<br />(b) Buyer mayhave dctamis od the energy efficiency ratingofthe residential building ifany is lasted on the Real Property.
<br />(c) lfthe Real Property includes pre-1978ttaidential houningthen Paragraph X (h) is mandatory.
<br />CID. MAXIMUM REPAIR COSTS: Sellershallnot heresponsible for the payment ofostsitexcess of
<br />for treatment and repair under Standard D (ifblank then 260 ofthe Purchase Price).
<br />(b)SN/AforrepairandreplacemantunderSlandardN(ilblankthen3°ooflhcPurdtasePrice).
<br />XIV. SPEUALCILAUSES: Ifadditional space isrequired. attadiaddendum and CHECK HERE r] .
<br />THIS iS INTENDED TO ATEA LEGALLY BINDING CONTRACT, IF NM FULLY UNDERSTOOD, SEEKTIiEADVICF OF AN ATTORNP.Y
<br />PRIORTO SiGWG. TIJIiS.IFORM HAS BEEN APPROVED BY THF. FLORIDA ASSOCIATION OF REALTORS AND Ti E FLORIDA BAR
<br />Approval snot conttlMta °i' then that -ofthe terms and wnditions in thiaContra r hould he awepted by the paries in a particulartransmion.
<br />Term dwrtdirionsrho ! e negot d bated upo herespedive interests. objectives bmgd gp t ;m?e esfed p sons
<br />09-21 -99
<br />Yer) AenAeth R. Maeht, Chairman[ (Date) (SeI err Burl y o t=ae, Jr. (Dale)
<br />Social Security or-Taxf.D. # ad' of Co Comaiasipo�- Social Security or Tax I.D. M
<br />(Buyer) William NN p alai ,SRPA sRA(Date) (Seller) (Date)
<br />Social SeeuritycrTax l.D. 0 Right—o ar]W Agent . Social Security or Tax I.D. k
<br />Deposit under Paragraph il(a) received; iFOTHER THAN CASH, THEN suB3ECCTOCI.EARANCE.
<br />BROKER'S FEE: The brokers named below, including fislingandcooperatingbrokers, are the onlybroken entitled to compensation in connection with this
<br />Contract:
<br />Name,
<br />L istingBroker
<br />cooperating Brokers, ifany — ---
<br />STANDARDS FOR REAL UWATETRANSACTIONS
<br />A. Evidence ot91Re:(1) An abstract oftilleprepared or brought current by reputable and esistingabstrad firm(ifnot exislin&that certified as carred by an
<br />existing firm) purportirgto been accurate synopsis ofthe instruments affedmgtitleto the Real Property recorded in the publicrecordsofthe wuntywherein the
<br />Real Property is located through Efiedive Date. It shall commerce with the earliestpublicrecords, or such later date as maybe customary in the county. Upon
<br />dosing ofthis Contract, the abstract shall become the property of Buyer, subject to the right of retention thereofby first mortgagee until fntlypaid. (2) Atitle
<br />insurance commitment issued by a Florida licensed title insurer agreeinglo issue Buyer, upon recording ofthe deed to Buyer, an owner's policy of title insurance
<br />in the amount ofthepurdrase price, insuringBuyer'stitleto the Real Property, subject onlyto liens, encumbrances, exceptions or qualifications provided in this
<br />Contract and those to be discharged by Seller at or before dosing Seller shall conveymarketable title subject onlyto liens, encumbrances, exceptions or qualificat-
<br />ions provided ihthis Contract. Marketablca—
<br />tittle shall be dneed awordingtu applicable Title Standards adopted by authority ofTbe Florida Bar and in aword-
<br />ance with law. Buyer shall have 30days, ifabstrad,or5days,iftilleconmhitment,fromdateofreoeivingevidenceoftiletoexamineit.)ffid isfounddefxtive,
<br />Buyer shall within 3daysthereafier, notify Seller in writingspeWngthe defed(s). II'defed(s) render title unmarketable, Seller will haw 30days from receipt of
<br />notice to remove the defects, failing which Buyer shall, within five (5) days after expiration ofthe thirty (30) day period, deliver written notice to Seller either: (I)
<br />extending thetime for a reasonable period not to exceed 120 days within whidi 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 fsilsto so notify Seller, Buyer shall be deemed to have accepted thetitle as it then is. Seller
<br />shall, iftille is found unmarketable, use diligent effort to carred def xt(s) within the time provided therefor. If Seller is unable to timely corredthe defects, Buyer
<br />shall either waive the defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligation under this Contract.
<br />B. Purchrne MoneyMorgw; Security Ag etmentlo Seller. Apurchase money mortgage and mortgage note to Seller shall provide for a 3(ldaygrace period in
<br />the event ofdefauh ifa first mortgage and a 15 -day grace period ifa second or lesser mortgage; shall provide for right ofprepaymentin whole or in part without
<br />penalty, shall permit acceleration in event oftransfer ofthe Real Property, shall require all prior liens and encumbrancesto be kept in good standingand forbid
<br />modifications ofor future advances under prior mortgage(s); shall require Buyer to maintain policies of insurancecontaining a standard mortgagee clause covering
<br />all improvements located on the Real Property against fire and all perils included within the term "e#ended coverage endorsements" and such other risks and
<br />perils as Seller may reasonable require, in an amount equalto their highest insurable value; and the mortgage, note and security agreement shall be otherwise in
<br />form and content required by Seller; but Sella mayonlyrequire clauses and coverage customarily found in mortgages, mortgage notes and security agreement'
<br />generally ulilimd bysavingr and loan institutions or state or nation at banks located in the countywherein the Real Property is located. All Personal Property and
<br />leases being conveyed or assigned will, at Seller's option, be mbjed to the lien of a security agreement evidenced by recorded fin ancingstate encs. 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 oftitle and to examine same, mayhave the Real Property surveyed and certified by
<br />a registered Florida surveyor. ifthe surveydisdosesencroachments on the Real Property or that improvements located thereon encroach on setback lines, ease-
<br />ments, lands ofolhers or violate any restrictions, Contract covenants or applicable governmental regilation, the same shall constitute a tide defied -
<br />D. Termites: Buyer, at Buyer's expense, within the time allowed to deliver evidence oftitle, mayhave the Property inspected by a Florida Certified Peri Control
<br />Operator ("Operator") to determine ifthere is any visible active termite infestation or visible damage from tennhe infestation in the Property. Ifeither or both are
<br />found, Buyer shall have 4 days 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 alicensed builder orgeneral contractor. Seller shall pay valid costs oftreatmentand repair ofall damage uptothe amount Prn,40w-A ^
<br />Faragapia ;::iiia j. ifesiinmren was exceeuthat amount. Buyer shall have the option of mnkelingthis Contradwithin S days after receipt of wntradoes repair
<br />estimate by givingwriden notioeto Seller or Buyer mayeledto proceed with the transaction, and rewire n uredo at dosmgon the amount provided in Paragraph
<br />XIII(a). 'Termites" shall be deemed to include all wood destroyingorgan isms required to be reported underthe Florida Ped Control Ad, as amended.
<br />F Ingress and Ems: Sege warrants and represents that there is ingress and cgressto the Real Property sufficient for its intended use as described in Paragraph
<br />VII hereof titleto vdhidn is in awnrdance with Standard A.
<br />E. Leases:Seller shall, notleasthan 15 days before dosing fimishto Buyer copiesofall written leases andestoppel [cuffs from each tenant Vedfyingthe nature
<br />and duration ofthetenants occupancy, rentalrates, advanced rent and security deposits paid bytenant. IfSeller is unableto obtain such letter from cad, tenant,
<br />the same information shall be fumished by Seller to Buyer within thattime period it the formofa Seller's affidavit and Buyer may thereafter contad tenants to
<br />confirm such information. Seller shall, at dosing deliver and assign all original leases to Buyer.
<br />G. Liens: Seller sh all furnish to Buyer attimo of dosing an affidavit allestingto the absence, unless otherwiseprovided for herein, of any financing statement,
<br />claims of lien orpotenlial lienors known to Seller and further amednngthal therehave been no improvements or repairs to the Real Propedyfor 90 days immd-
<br />istelypreoedingdateofdosing IftheReal Propertyhasbeen improved orrepaired within that time, Seller shall deliver releasesor waiversof construction liens
<br />executed by all general contractors, subcontractors, supplies and materialman in addition to Seller's lien affidavit settingforth the names ofall suds general wn-
<br />tradors, subcontractors, suppliers and materiabmen, further affarm'vhgthat all charges for improve me tsor repairs which could serve as a basis for a construdion
<br />lien or a claim for damages havebeen paid or will be paid at the dosingofthisContrad.
<br />IL Place of CIosint: Closing shall be held in the county wherein the Real Property is located at the office ofthe attorney or other dosin g ager des. ignat d by Seller.
<br />FAIL/BARA Revised 12/95 (C) 1994. Florida Association ofReshors(R) P.O. [lox 725025 Orlando, Florida 32872-5025 All Rights Reserved Page 2 of 3
<br />'Ibis form is licensed foruse by1SO-McAllister Puhlishing303.546b355
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