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i 0 ?9._ 33' THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR. Contract for Sale and Purchase FLORI DA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR *1 PARTIES: Seller , Larry W Cudney and Amy L Cudnev ( 2 of 7900 12th Str Vero Heach Florida 32966 (Phone) N/A *3 and Indian River COU_I_tty, a political subdivision of the State of Florida ("Buyer"), 4 of 1840 25th Street Vero Heach Florida 32960 (Phone) (561) 567-8000, 5 hereby agree that Seller shall sell and Buyer shall buy the following described real property and personal property (collectively 6 "Property') pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract"): 7 I. DESCRIPTION: Count Florida: *8 (a) Legal description of the Real Property located in Indian River Y. 9 See legal description Exhibit "A" attached hereto and made n part hereof. 10 *11 (b) Street address, city, zip, of the Property is: 7900 12th St Vero 8-000 -Q 3-000 *12 (c) Personal Property: None A-1 zoning. Parcel ID No 12-33-�A-nnnnl-0060-00001.2 _ 13 70t x 188 --' parcel containing 13,171 sguare feet, 14 PLEASE NOTEt THIS CONTRACT SUBJECT TO INDIAN RIVER COUNTY APPROVAL 15 II. PURCHASE PRICE:.............................................................................................................................$ 5.268.40_ — 16 PAYMENT: N/A (Escrow *17 (a) Deposit held in escrow by *18 Agent) in the amount of..................................................................................................................................................$ -0- *19 (b)Additional escrow deposit to be made to Escrow Agent within days after Effective Dates ee *20 Paragraph III) in the amount of.......................................................................................................................................$ -0- *21 (c) Subject to AND assumption of existing mortgage in good standing in favor of N/A 22 having an approximate present principal balance of ...................$ -0- *23 (d) New mortgage financing with a Lender (see Paragraph IV) in the amount of.........t......................................... of..................................$ -0- *24 (e) Purchase money mortgage and note to Seller (see rider for terms) in the amount of .................................$ -0- *25 (f)Other: N/A -_ $ -0- 26 (g) Balance to close by U.S. cash or LOCALLY DRAWN cashier's or official bank check(s), subject *27 to adjustments or prorations............................................................................................................................... I.....$ 5,268.40 28 Ill. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties *29 OR FACT OF EXECUTION communicated in writing between the parties on or before 30 days the deposit(s) 30 will, at Buyer's option, be returned and this offer withdrawn. For purposes of delivery or notice of execution, parties include Buyer 31 and Seller or each of the respective brokers or attorneys. The date of Contract ("Effective Date") will be the date when the last 32 one of the Buyer and Seller has signed this offer. A facsimile copy of this Contract and any signatures hereon shall be considered 33 for all purposes as an original. 34 IV. FINANCING: *35 X (a) This is a cash transaction with no contingencies for financing; *36 ❑ (b) This Contract is conditioned on Buyer obtaining a written loan commitment within _ days after Effective Date for *37 (CHECK ONLY ONE): ❑ a fixed; Elan adjustable; or ❑ a fixed or adjustable rate loan in the principal amount of *38 $ , at an initial interest rate not to exceed % , discount and origination fees not to exceed % *39 of principal amount, and for a term of years. Buyer will make application within —days (5 days if left blank) after 40 Effective Date and use reasonable diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of 41 the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or fails to waive 42 Buyer's rights under this subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the 43 terms and conditions of the commitment by the closing date, then either party thereafter, by written notice to the other, may 44 cancel this Contract and Buyer shall be refunded the deposit(s); or *45 ❑ (c) The existing mortgage, described in Paragraph 11(c) above, has: ❑ a variable interest rate; or ❑ a fixed interest rate of *46 % per annum. At time of title transfer, some fixed interest rates are subject to increase; if increased, the rate shall not *47 exceed % per annum. Seller shall furnish a statement from each mortgagee stating the principal balance, method of 48 payment, interest rate and status of mortgage or authorize Buyer or Closing Agent to obtain the same. If Buyer has agreed to 49 assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the ny 50 necessary application and 1% of diligently ameoulnt assumed if left blank), return it Ashall be paid by Buyer. f Buyer is mortgagee *51 $ not accepted by mortgagee or 52 the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in 53 excess of the stated amount, Seller or Buyer may rescind this Contract by written notice to the other party unless either 54 elects to pay the increase in interest rate or excess mortgage charges. *55 V. TITLE EVIDENCE: At least days before closing date, (CHECK ONLY ONE): ❑ Seller shall, at Seller's expense, deliver *56 to Buyer or Buyer's attorney; or D< Buyer shall at Buyer's expense obtain (CHECK ONLY ONE): X abstract of title; or Xtitle 57 insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's 58 policy of title insurance. *59 VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on or before 60 days-, 60 unless modified by other provisions of this Contract. From effective date (see Sec III) B uyer (. ) I-) and Sellst ( ) ( _) acknowledge recelpt of a copy of this Page. FARIBAR-5 Rev. 8198 RIDERS CAN BE OBTAINED FROM THE FLORIDA ASSOCIATION OF REALTORS® OR THE FLORIDA BAR This form is licensed for use with Pormuloior" Forms Software by ISG McAllister Publishing, Inc. 800.336-1027