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<br />1 f9 STANDARDS FOR REAL ESTATE TMNSACTiONS
<br />120 A—EVIOENCS OF TITLEIi t) {An eb4{roc! of !IIID prepared or brought Currant by n rnnutahia And n.irlsllnq eros!seat flim [II net arising than
<br />121 Carll(Yed. es correct by an existing Ilan) puFporting IO be An accurate synopsis of Ihe in5rfumnnls affacling title t0 the real properly recorded In
<br />1,22 Iiia public fft Ords of the county wherein the reel property Is IDcalad through @ffecllve Dale, 11 Shall commence with the earifesl public records,
<br />123 of such later dale as may be customary In the county. Upon CIOSIeg of this Contr.,ci, the abstract shale bocOmo Iho Pfepefly of Buyer, subject to
<br />124 the right of retention thereof by first mor(gootia until fully paid. (2) A Ij-UO _In3uF112gAQ-S ml m,U Issued by a Florida licensed title Insurer
<br />122 ograeing 10 Issue Buyer, upon racordlno of the deed 16 DOW. nn ownol•s pollcy At liblo Inepmnco In (he � amount of the purchase price, 4nevong
<br />126 {)uyor's elle to the loot properly, subject only to Ilam, oncumbrnnc.Os, oxdeptions or quplfNcAU*nt provided In Ibis Contract And those to be
<br />$27 dlschafged by Soifer at of before ctasing, Seller shall convoy markolible Inle 10tileCt Only to lb,.ris, encumbrances, erceplll)ns of quail Flcailans
<br />129 pfOvldfld In this Cunlrecl_ MArkolablo title shalt be dMOrmlead According to appllcnhln Title Standards adopted by aulhorlty of The Florida Bar
<br />120 and in accordance with low. Buyer shall hava 6 days from dala of focaiving avidonca of 111141 to-11rana 11, if Otto Is found derecnve. Buyer
<br />lin Ahntl within 0014 5 dAY0 AO11Fy $offer In wrlHne spncl(ying Ihn dotoeq%). It dernr.ltn) render tlfln unmarkatahln, Snllar will have 3o day from
<br />131 receipt of notice to remove the dorecls, ralling which Buyer shall, wlthrn IWO (5) days afrnr nx PlFnllnn at the thirty (30) day period, deliver written
<br />132 notice IO Solicit either: (1) exfandino tho time for a reasonable palled net to ntcr.ed iTD daps within wNICh Sonar she!! use dlllge e4 altar! !a
<br />Ian rnmoyn Ihn d"fncis; of (2) FertPWlnq n rotund nt dnpntll(s) pnld which shelr Ire 6+, 011ll I" rnlurnit In Buyer, o Buy i falls Ie so nosily fort In
<br />134 Buyer shot! ha deemed to Novo Accopled Ilia title no 11 Ihon Is. Softer shrill, If line In rnlmd In+nwrk+lllttn, Ion dlllpont affOfl 10 Correct dafoegs)
<br />135 within the lime provldod lhorafor, 11 Sellar Is unable 10 llmoly correct the defect s. Puynr �h01f ellhar wAlva the defects, or r6Celve 8 refund of
<br />136 40pOS"(s), thereby re102sin0 Buyer and Selror from all further ohligalOns under trots Coni"W. If wd(1enca of Illln is dollverdd to Buyer fess Ihsn
<br />137 5 days prior to closing, Buyer may *,,tend closing call) 1.0 that Buyer shah hove vp to 5 days from dela of receipt of evidence of IPrA to examhno
<br />136 same In accordance wllh Ihls Standard.
<br />s30 B.. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER; A purchase money mnflgage and mortgage note to Seller shall
<br />146 PfOvide For a DD-doy grace period In tho cyan( of 001'aull If a first morlgago and A 15•nay prnco porlod If A second ar lesser mortgage; shell
<br />141 ©r0vld0 for rlghl of prepayment In whole or In pOrl without ponolly; shall permit aecntarAnon In Ovant Of Irnnsliff Of the lap! prOPOrly; (hall require
<br />142 all prior liens and encumbrances In be kepi In good standing and forbid medflieatlons of or future advances under prior morlgaga(s); shell fmufre
<br />143 Buyer to malnia;A policies of Insurance contillning a Standard morlgagae clause covarirll) All tmpravnmanle 10Caied on the Foal property agates!
<br />144 fife and all parts Incrudoo within the form'e%torrdod covarogo ondorsamants' and such other risks and Pefiis as Snllar may reasonably require,
<br />145 in an Amount equal to lholf highest 'lasuFable value; and the morlgago, note and sncurlty Agreement shall be otherwise In form and content required
<br />146 by Seller; but Sellar may only require clauses Ond Cav*ragq Customarily found In marlgngos, morigago notes and s*eurlly a9rlemen4S generally
<br />Id? ullllxod by savings and loan institutions or slelo or notional banks IoCAl41d in no county whAfalo Iho trial property Is located. All personal
<br />141 properly and loasos being Conveyed or aeslgnner will, 61 Soller's option, be su6lec1 to the Ilmn of A an"llty ngfeetnnnl evidenced by recorded
<br />149 financing al.+lament e. If O bAll0-0n mongag*, the final POYI-font will pxcoa4 the pnrlonrt nog men!.+. Ihq on.
<br />150 C. SURVE Y: Buyer, at Buyer's gxponse, wliMn time allowed to d6rtvor evld0nce of title a+td t0 examine ,,amu, rosy ngvo Ilia real Property surveyed
<br />151 and CortiiflOd by a registered Florida surveyor. If the survey dfs0ro5as OncrgaChmants On the roll proparly at that Improvoments localed Inereon
<br />152 encroach on setback Ilnol, aaenmenls, Iande of olhors or violate any faslflctbns, Cnmlraci cevAnanis or applicable gavernmanial regulatlon, Ina
<br />153 .amq .hell consttlute a Slna dot acl.
<br />154 O, TERMITESIWOOD DESTROYING OROANISMS: Buyer, All Buyer's oxpnnsn, wthln the tire" Allgw Od 10 dollvof avldenee of 41,116, may hays the
<br />155 properly Inspected by a Ftorldo Cotillion Past Control OperelOr ('Operator') to dootmino If IhOre Is Any vlslblm ACllee lermlta Infaslallon or
<br />150 visible damage from Iermlto lnfestallon, excluding fences, If either or both ara found, 61AYCr shaft have 4 days from data of written notree thereof
<br />157 wlthln which to have call of treatment. If required, estimated by the OPOWOF And all damngo Inspe.cled And Osllmeled by a licensed builder or
<br />$$e general Contractor. Sollor shall pay valid COIIS Of treaimanl and repair of ell damag41 up IO IT,o amount provided In Paragraph XIII(a), 1F
<br />15S estimated coals exceed that amount, Buyer Shall have thO OPflon Of canceling this Cnnlracl wllhln 5 days Astor r6COIPt Of ConitO0IOr's repair
<br />160 estimate by g1'vrno written notice la Seller Or Buyer MAY elect to proceed with the IraASOCII01), and Fr,C01— a credit tot closirip on the amount
<br />101 provided in Paragraph XIII (a.).'Termli $hall be doomed 10 lnclud0 Oil wood destroying organisms rnoulrOd to bit reported under the Florida Pell
<br />16.2 Control Act, as amandad.
<br />103 E. INGRESS AND EGRESS: Sallof warrants and represents that IhAra is ingross and egress 10 thn real praparty aulfiO[enl for 110 Intended use
<br />164 as described In Parngraph VII hereof, (1116 Io which Is In accordance wish Stn ndnrd A.
<br />loo le LEASES: $l)IIt ehpll, not lass than 15 days before ctasing, furnl$h to Ouyer "PPen of all wriilen lebsas and estoppel loiters from each
<br />fd6 tenanl specifying the nature and duration of the tenant's Occupancy, rental rales, advanced rent and security 40PO511 paid by tenanl,. If SOIIOF 15
<br />167 unabto 10 obtain such falter morn each tenanl, the some informalfan shag ho furnished by Sellnr and Buyer within that lima period In the form of A
<br />168 aelices affidavit, end Buyar may Iheroa trot eOnlact tenanl Io cnn(irm suchlof6rmalimn iollor ,,heir,
<br />160 100505 to Buyor. 411 cto5fng, d011var and assign all original
<br />170 G. LIENS: Sallet shall furnish to Buyer at lima of closing on ollidavll attesting to 1hr,qb5nDcQ. unless Olhorwlso provrded for heroin, of any
<br />171 fleancing itAlamonl, claims of Ilen or potential IIOnOF5 known to lister and further allowing Inst t;oro hove bean no improvements or repairs to
<br />172 Ilia real property for 00 days Immediately procading dole of ciosing. If the 1001 prOporty hos boon impravad of Fapalrad within that limo, $ollar
<br />173 shall dollvar releases Or walvOfs of construction liens Oxecul Od by all goneral contractors, svbeanlrnctors, suppllor$ and malorlalmon In addition
<br />174 to Set*r's flea alfldavll selling forth the names of all such general c*nlraclors, subcontractors, suPpnas and matef101amn, luflb*r affirming that
<br />175 all charges for I®Prevomonts or repairs which could serve as a basis for a C0415119411gn lino or a claim far damages have been VAN ar will on paid
<br />I" al the closing of lots Contract,
<br />177 H. PLACE OF CLOSING, Closing shall be hard In the county whafoPn the rcnl properly Is locsled at Ihn orpl, of the attorney or What Closing
<br />1741 agent (-Closing Agenl'l daelgnoled by Soller,
<br />779 I. TIME: in o core Puling tlmn hien a Df loss Ihn@ KI' (11) days, Snl urdny t, S—lnys and 'I-" nr nolle -1 Initial holldnys ehnll bo "cludod. Any time
<br />18n thepatsit nce In this
<br />for harem whlCh stall end en a Salurday, Sunday, or 0 legal holiday ehAll apinnd to 5 G p.m. of the next business day. Time Is of
<br />I'll
<br />She silence In Ibis Cantrscl.
<br />182 J. CLOSING DOCUMENTS: Sallee shall fvr0lfh the dead, bill of 0010, construction Ilan Arlldavrl, awnar's possession effid$vlt, a0elgnmants 01
<br />183 foeaes, I6nanl and aFtOegea estoppel !skarn and corroctwa las!runl41 nit e. Buynr shall hftnlsh r,4osfng sia1nmoel, mort9ago, mofrpnpa nate,
<br />184 security eoroom6nt and (InanCing statements.
<br />16.6 K. EXPENSES: Documentary stamps on the dead and rocording of corroellvo Instrum"nis shelf be paid by'S.olter, OOcumenlery stamps and
<br />188. Intangible I6K on the purchnse money morigago and any reorigngo assumed, rrrnrlgagon title Insurance commitment with relotod fees, and
<br />fel recording of purchase money marlgago to Sallar, deed And financing 11018ments 26011 be paid by Buyer, Unlass Otherwise provided by law ee
<br />16a ,test to this Conlracl.
<br />Charges for the following related title services, nam"ty 11110 Or abstfhr,t charge, title aKarelnollon, and salllement
<br />169 and to fee, shall ba ()Aid by rho P8Fty FeaP0nd10fa for fIliaurnishing ,a 11110 evldnnea in aecnedancn with PAragraph V,
<br />180 L, PRORATIONS; CREDITS* Taxes, oaeestmonia, rent, Internal. In5uranco and 011ier axpnnsr-s of the Properly shall bo Proralnd Illfougn the
<br />191 day before closing, Buyer "all have the oplOn of laking over exttllnq policies of in,waflce, it assumhlt, in which event premiums shall be
<br />192 prorntod, Cath at Closing .hall be Increased of docrosod of may bo rollulrad by prnrnllool In 130 n+nd" Ihrough day prior to clu$ing, or occupancy,
<br />103 If OccuponCy Occurs before closing. Advance rent And security deposits will be cr 4lir+d to Buyar, Escrow dopoellt hold by mortgagee wilt be
<br />104 credited to Salfet. Tax6s shat be 9rorateir based on the currani year's lax with duo allowanco mM1dn for maximum allowable dI ceun1. homaslesA
<br />105 and *that exemptions, if closing occurs at a dale when the current year's m1llagn Is net fixed and currant yo¢r's oseaesmen! Ps avallIt m tion
<br />fixel
<br />1110, will tie prorated based upon such assessment and prior yebr'e mtling, If curranl year'$ 0slo3smon, Is not 1.v011nblo, than loxes will be prorated
<br />t97 *n prior year'$ lox, If Ihere oto completed Improvemanls on the roll Property by January sat of yens of clesing,whlch lenprave redo!,, were not le
<br />198 exlitenCo on January 1s1. of pilar year, (hon taxes shnfl be pfnralod ho5od upon PH- yr-nr'' nldtag* anr.l at no equlln6lo assassmant to be agreed
<br />199 upon bolwoon the partial, (ailing welch, roquast shall 60 rnadu to line) Counly Properly Approlsor For an Informal assn.emanl laking Into ACCOunl
<br />200 available exemptions. A rex psora if on b0se an pn tls Nr@a1e "All, at FOqu0s1 Of nithAr Party, 110 rnmilustad upon fnCnlpl of lax bill on condition
<br />201 )hot. a. alatamenl la Ihal olfec11111gnod a1 o in .
<br />D uy6r { f.G t { )and Seller ( scknowlnrlge rr,fts of • c.@py of this paps,
<br />FARISAR-5 Re, 8196 COPYRIGHT 1006 THE FLORIDA BAR AND THE FLORIDA ASSOC IATPO1t Of R[ALTORSR
<br />This form Is licensed for use with ForsrsuCsator" Forms Software, by I:iG McAllir,IOr Pi.Wi:.hh,r), Irtc F;DO.33sT.iOt^.i
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