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C-1
<br />LVA
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<br />119 STANDARDS FOR REAL ESTATE TRANSACTIONS
<br />•120A. EVIDENCE OF TITLE P(II An pbstraci of lille proparod at brought current by a reputable and em xisllnu abslmcl tuof not oxisting too.
<br />121 cortlllod as correct by an exISIIn9 (lan) purporting to be an accurate synopsis or the 10strumants 311'eClin0 title to the 9001 prapdrty recorded In
<br />122 the public records of the county wherein the real praperly Is localad through Effective Date. II shall dommonce with the tizdwsl public rOCOFFl
<br />123 or such Inlet dale as may be customary in the county. Upon closing of this Contract, tho abstfact shall become the property at Buyof. Subject to
<br />124 the right of retention thereof by lirsl morlgagoo until fully' paid (2) A title Insurance commumOul issued by a Florida Ileensed title insurer
<br />125 agreeing to issue Buyer, upon recording of the dead 10 Buyer, an owner's policy of title Insurance In Iho amount of the purchase price. Insuring
<br />126 Buyor's llbo to tho foal ptoporly. sublocl only to
<br />hens, ancumba0nces, oxcoptipna or quahlrcatlons provldod in It" Contract and Ihoso to to
<br />127 di6charg pd ay Souer at or before closing. Seller stiall convoy mar kotablo mile sub)oct nnty l0 hunt, onGUmhFBmCOs, exceptions or quWalcolians
<br />128 pfavdded In this Cpnl Fecl. htafkelablo title shall be dolerrrdeed aCcofdloo to appllcabio Title Standards adapted by authority of The Florida Bar
<br />t29 and In accordanca wllh law. Buyer shall have 5 days from data of rnceivmg evidence of Jilin to examine it If tito is found dolactive, Buyer
<br />130 shalt within sold 5 days notify Sauer in writing specifying the defactls) 11 defoct(S) rondar 1,110 unmarkatablo. Sailor will have 30 day from
<br />131 recolpl of notice to remove the detects, folhng which Buyer shall, within live (5) days oiler axplralmn of the thOly 1301 day period, deliver wntf eri
<br />132 notice to Seller olthof. (t) extending Ilia time for a ronsenahlo period not to oxCaed 129 days wllhln which Seller Shall i1Sa diligool effort Io
<br />133 remove the defocts; ar (2) requesting a refund of deposdt(s) pald which shah be Immediately returned to Buyer. If Buyof falls 10 So n0tily Seller,
<br />134 Buyer shad be deemed to havo occoplud thq tillo as 1t Ilion re Sailor shall, if 1N V0 Is fourid unmarketablo, uSa diligent effort to coFrect caFecl(s)
<br />135 wllhln ilio limo provldud I total I. If Sellar is unable to timoly correct the delecl s, Buyer shall ollhor waive the defocls, or receive it roluno at
<br />136 doposrt(a), Ihgruby reloosVng Buyer and Sollor from all further oblP9altohs under this Contract If evddenco of IIIIO is dnlivored to Suyor loss than
<br />137 5 days prior to closing. Buyer may extend closing data Se that Buyer shall have up to 5 days from data o: rocaipt of Ovidenee of title to examine
<br />136 same In accordance with this Slandard
<br />130 B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER.: A purchase mOnay mortgage and mortgage note to Seller shall
<br />140 provide for a 30 -day grace palled in the avant of da(arrh If a tifsl mortgage and a 15 -day grace POFlod 11 a second or lossor morlgago; shall
<br />141 pfovrdo [or fight o1 prepayment in whole or in part without penalty; shall permit accelerallon In event of transfer 01 the real praperly, shall require
<br />- 142 all prior hens and 0ncumbIraocas to be kepi to good standing and forbld mbdnccallona 01 or fUtI1rQ advancos under prior mortgage(s), &hall require
<br />143 Buyer to malnlain policies of insurance contalmng a slondard morlgagoo clause covering all improvements localerl on the real property against
<br />144 life and all perils included within the term'extandad coverag0 0ndorsemanl6' and Asch alhef risks and Perlis as Salfaf may reasonably require,
<br />145 In no amount equal to their highest Insurable value, and the marlgage, note and socurtly agreumonl shall be otherwise in form and content raqulfod
<br />145 by Sellar, but Sollor may only require clauses and coverage customarily found in 1a0rlga9Os, m0ftgaad notQ5 and security agraoment9 generally
<br />147 utlliyod by savings and loan institutions or Slate or nallonal banks Pacatud In the county wheroin the real property Is located. All personal
<br />146 property and looses being convoyed or assigned wilt. at Salter's opnon. be subject to Ilia Iron of a security agreomont evidenced by ree0rdad
<br />140 financing statornonis. If a balloon muflgage, rho Anal Payment will Oxi:oed the P0nQdlC P3YMNIIs Iberaon,
<br />160 C. SURVEY: Buyor, at Buyer's axponsa, within time allowed to dohvor avid Qricp of 11110 and to examine some, may have the foal properly sur"y"
<br />151 and cortified by a registered Florida sufvoyer. Il 1110 survey dlSClases encroachments on the foal property or that Improvements locahto thoruon
<br />152 encroach on setback linos, oasernonts, rands of others or violate any rasifictlons. Contract covenants or applicable governmental mgulatlon, the
<br />153 same all conslllute a 1Wo dotact.
<br />$54 B. T E R M IT E SIWOOD 0ESTROYIH0 OROANISPAS: Buyer, at 0uyor'5 oxpom&e, within the Orne allowed to oollvar evidanca of title, may have Shu
<br />155 Properly Inspocted by a Florida Carilfled Post Control Operator ('Operalor') to delerouria 11 there Is any visible active tormlta Infoslallon or
<br />156 vlsjb Pe deal from termite Inlaslalten, excluding fancas If either or both arc found, Buyer shall have 4 flays Ram data of written nollce Ine9dof
<br />167within which to have cost of Ireplmonl, II rgqurrod, estimated by khe Operator and all damage inspected and ontdmoted by a licensed bundor Or
<br />158 general contreclor. Sallpr shell pay valid costs of Iroatmonl and repair of all dpmpga up to the amount pFOvidOd in Paragraph 7nfila). It
<br />150 osllmaled costa exceed (hat omounl, Buyer shall have the Option of cancallio this Contract vi 5 days alcor raceipi of eaniraclor's repair
<br />180 estimate by giving wrlUen notco 10 sol!dr of Buyer fnay olucl Ie PFoeoad %ph Iho transaction, and receive a credit at closing on the amount
<br />101 provided In paragraph Atli;a). *Termlles' shall be deemod to Include alt wood doll Foying organisms required to be reported under the Florida pest
<br />182 Control Act, as amended
<br />163 E, INGRESS AND EGRESS: Seller warrants and represents Ilial there is Ingfass and agross to the rear property sulfleianl for Its nilomtod use
<br />164 as described in Paragraph VII Itoroot, title to whlch is In accordance with Slandard A
<br />1B5 F. LEASES: Sailor shall, not lass than 15 days beforu closing, fufnlsh to euyur copies of all written lea3US and osloppol 1e11pre from each
<br />165 lananl specifying Fire nature and duration a1 Iho lenanl'S accuPancy, rental rates, advanced Pont Pnd senurdly deposit paid by lonanl. If Salter 11
<br />167 unable to obtain such letter tram each tenant, the same Vnjornlallgn shall be lurnlshod by Salter and Buyer within that lima palled !n the term of a
<br />108Sollnr's alfldavll, and Buyer may thereafter contact tonant to confirm such Inlorrnatwn Sailor shall, at dosing, III and FiSslgn all original
<br />tag loasas to Buyer
<br />170 G. LIENS: Seller shall Iarntih to Duyw at limo of closing an aindavdl attesting to Ihu absenc O. unions olhePwisa provided lot lifirip 1, of any
<br />171 financing statement, claims of lion or pblontial honor's known to Sailor and Iuflll Qf atlQsljng $hat Blore have boon no llnPrOvemenrs or repairs to
<br />172 the real properly fpr g0 days Immediately preceding onto at closing 11 the Foal property has boon Improved or repalrod wnllhh that Time, Seller
<br />173 ®halldullver releases or =Nofs of conslrucllon Ifeni executed by OPI genarnl contractors, aaticontfaclors, aupphots and fli,torfahrren in addition
<br />174 to Seller's I on afhdavil selling forth (ha names of atl such 0anoint contractors, subconitaciofa, suppliers and FraleffalmQn, IpflllQF nflifhling that
<br />175 all charges for hnpr"enonls or ropaRS which could servo as a basis IGF a constru 011nn Ilan OF a claim for damagus li"a been paid or will be paid
<br />170 a1 Ilia cloelnft al this Contract
<br />177 H. PLACE OF CLOSING: Closing shall be held in the county wherelll Ihu Foal Prepafly Is located at the office of the attorney of other closing
<br />ITO agent I'Closing Agent') designated by Sailur.
<br />179 I. TIME! In compuling time periods o! toss Irian six (6) days. Saturdays, Sundays and $tate or national 10901 holidays shall be axctudod Any time
<br />100 periods provided for hofotn which Shall Find an a Saturday, Sunday, or a legal holiday shift oxtand to 5:00 p m or the next business day Time is of
<br />191 the essence In this CQnlratt.
<br />182 J. CLOSING DOCUMENTS: Smaller &hall lurnish the dead. bill d( sale, construction lion allldavH,. owner's possession aftidavil, assignments of
<br />183 louses, lenanl and olurlgagpo asloppol loners and correctrvo i nstromauts. Buyor shall lumpish closing SlatOmant, murigagO. asorlgd0O nota,
<br />pail security agroomont and flnancjng statements
<br />185 H. EXPENSES: Documuntary slamps on Ilia dead and recording of eoffecid" Instruments shalt ba paid by Sellar Documentary .'imps and
<br />ISO jnlangibie Ina on the purchase money mortgage and any mortgago assumed, morlgagoo titin Insufauco cumrnlloront with related leas, and
<br />1157recording of purchase money martgaga to Seller• deed and IIIInnL'fno stat Qinaflls shelf be Paid by Buyer. Unless cl"Fwlsu pfovidoo by Pow or
<br />166 alder to lilts Contract, charges for the following olalod 11th sorvlcus, namely title of abstract charge, IIIIq ox arnln atlon,. and sotllmnont
<br />166 and Cloaln9 fon, Shall be paid by the party FespOuslMn for furnt&hing Iho title eyloetQHr In accardanc0 wilh ParagnlPh V
<br />Ion L. PROBATIONS: CREDITS; Taxes. assessments. Font, inlornsl, lnsurancu and other expcnsus of Ilia Property ^hall b0 plot !pd through the
<br />191 day before closing. Buyer shall have Oro uption o1 laking o •r oxisting policies of insui—ed. If assumable, In wh -b ovOn1 Premiums s:,ali be
<br />1g@ prorated- Cash al. riesing strait hu Increased or docraased as r. _y hq required by prorailons to ba made through day 139901' to CfeSing, or occupancy,
<br />193 f1 occupancy occurs before closing. Advance Fool ;Ind security dopeshs will be-ridlled to Buyer. Escrow deposlls bold by Inort9ag0o will he
<br />104 credited to Sollor. Taxes shall be prorated based on the cufrenl "at's tax with due Pllowance rnado lot maxfmuni allowable discount, Ilolrus:Qad
<br />105 and othor oxompliohs tl closln9 occurs ar a dale when the curronl year's muhago Is not Ilxod oral currant year's assessment Is available, taxes
<br />165will be prorated' based upon suC1i a66ossmunl and prier yearn rnnlagp. 11 Currolil yo« is —restrain is not avaYlabl P, 111riM1 Inv, • � ir,uratou
<br />I07 on PFlor yoaf's lax. If there are completed Improvements on the fear prmner+, t•r-„air 7 tri v-, or Cldslng, which II II pfaYq mpllts Were not lit
<br />108 axlslenco on Jori 161 of prinr y-11, :ha:j joxus scan be prutaleo based upon prlor year's lndlhage and at an equitable as sessmonl to be agreed
<br />Ica upon Onn+e_Cs jha parties; falling which. Iuqu05t shall be mlde to Lima CgUnly PFoperty Appraiser for an bl lernal assassmanl Inking into account
<br />200 avahabl0 oxempllons A lax proration based an or, estimate shall, at request of quhaf party, ba Feadluslud upon FOCOIPl of fax blot en Carldthee
<br />201 That a Stalemdnl In that afleci is alonad cfo3jmg
<br />Buyer { 1 l._..-__. __1 find Belief �Y*.J _)'I I seknowledgo raeetpt of a copy of this pspsa
<br />FAR;EIAR•5 Rohr, 6198 COPYRIGHT lugs THE FLORIDA OAP AND TWE FLORIDA ASSOCIATION OF REALTORSdv
<br />This film is licensed for use vv1H1 jForma6lutnr" Fotms SpfjW:oF0 by ISG McAlhstar Pubhshlh0. Inc Al I1 -t?" -I'17
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