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<br />M
<br />fig STANDARDS FOR REAL. ESTATE TRANSA6TmS
<br />120 A. EVIOIDNCE OF TME:(I) Sr, ab1lfac, or Mlle prepared Of brought current by a rapulabter and exreling abalfsel Hrm (If not existing than
<br />121 certified as correct by an aaisting f,rn11 purporting to be an accurate synapsis Of the Inslrumenis affecting lilts tO the real property recorded in
<br />1122 Ilia public records or the county wherein rht real property Is lacaled through Effective Data It shall Comments with the earliest public (ecords,
<br />129 or such tater dale as may be Customary in the county Upon closing of this Contract, the abslracl enact become the property Of Buyer, nublRCt to
<br />124 the ripet of retention thereof by Hill FnortpaQee unlit fully, paid (2) 1illo lesuranct commit M111 issued by a Florida licensed title insurer
<br />123 Waning 10 Issue Buyer, upon recording of the data to Buyer, an owner's policy or title Itnufadce. in the amount of Ib■ purchase price, Inwrmp
<br />126 Byyyrtr's lifts to the fool properly, subject only to I+ene, encumbrances, es, O%C aplipns OF guaNfiCsfrane. prpndad in this Co nlrset and (hos■ 10 be
<br />1
<br />2
<br />7 eifcharged by Salter 'it or before closing Sailor shall convey marketable tate subject ortty to liens. encumbrances, exceptions or qualifications
<br />128 provided in this Coniracs. Marketable eine mhaH be determined according to applicable Title Standar 6 adopted by authority of The Florida Ear
<br />120 and in accordance with law. Buyer shall ban 5days from. date o1 racelving evidence or title lir exam_ fl. if HRs it round eersaive. Buyer
<br />190 shall within said 5 days nilly Sailor in writing tpeeifying the defocus] If darecl(@) fonder (ilia unmarkelabia, Seller will have 30 day from
<br />131 facelpl of nolic■ to remove the defaels, ralfrmg which Buyer shall, within fixe (5) days error axplraticn of the Wny 130) day parlod, deliver writer,
<br />132 notice FO Seiler either, (I) exlanding the tient for a reasonable period nal 10 exceed 120 days within which Salter shall use diligent effort to
<br />133 remove the delacls, or 171 requesting a refund Of deposit($) paid which shall be immediately returned 10 Buyer. it Buyer faits to no notify Sauer,
<br />134 Buyef shall be Beamed 10 have accepted thr bills to m then is. Seiler shall, if title it found unmarketable, use ditigenl erfOfl to correct defectis)
<br />135 "Ithin Ohs time provided iheratar. II Sailer is unable fo timely correct the defects, Buyer shall mother wane the defects, or receive a rQlund a,
<br />136 depoait(s), thereby relapsing Buyer and Seller from all further abfigp,tpns under this Contract. H evidence Of title Is delivered to Buysr lose than
<br />197 5 days prior to closing, Buyer may extend closing dale so that Buyer shall have up to 3 days from date of receipt of evidence of Iola to examine
<br />136 same In accordance with this Standard.
<br />199 Is. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage. nota 10 Sailer %half
<br />140 provide lo( a 30 -day grace period in the tvs@t Of default If a first morlgaQa and a 16-dey grace period if a second or Revise mortpap*, mall
<br />141 provide far fight Of prepayment In wholt or rn pan wlhoul penally: shall petmlt acceleration 10 Ovenl of transfer of the real properly; shall IOU uirE
<br />142 all pito( liens and entumbrances la be kept in good standing and forbid modifications of or fulcra advances under prior morlgmgels)., shall r;purr;
<br />143 Boyar to mami2tn pnhtras of insurance contaImaq a standard mortgagee Clause covOlmO 211 Ymprovemanls 1000led on the real property age As[
<br />Ila fire and ail petilt included within the term •estOndcc coverage andofsements• and such other fists and peril% as Sells( may roasenabdy raqao,
<br />las in an amount eq"l to Shalt highest m1litabfe slue, a-4 Ina mortgage, note and security ag(eernent shall bet olherwrtd in form and content fequired
<br />146 by Seller; but Seller may only require clauses and coverage customarily found in morlgagae, mortgage riles and security agreements gentrally
<br />147 uNlfaad by savings And loan Institutions or (tats or national banks lgcslad in Ina county wherein the real prgpmfly Is located. All personal
<br />1411 pr'uperty sad tool As being Conveyed of a&signed wiz, At Seller's option, be subject Iii rile Ilan of a security 09164rnenl evt
<br />149 financing slalemeots. If a balloon mortgage, the 14`41 payfritnl will exceed The periodic pAymanls thereon. danced by rae0Fg4tl
<br />ISO C. SURVEY: Buysr, at Buyer's expense, wdhm time allowed 10 deliver evident@ of title and inn
<br />e same, may have the foal property surveyed
<br />151 and oartif led by a ck ljn @red Florida survtyor If ,hr survey discloses ancraachmenls on Ino re 41 oraperty or that improvements located Ihareon
<br />153 @arta shalt constitute 151 encroach on te,es, easements, lines of clherl. of violate any a
<br />restrictions, contract evenants or applicable governmental regulation, lot
<br />tut use a Mlle defect.
<br />154 O. TERMITEBrWOOB DESTROYING ORGANISMS: Buyer, e.1 Buyer's expense, within the time showed Is deliver evidence of idle, may he" the
<br />155 Properly f_pecud by a Florida Certified Put Conliat Operator I'Optralm") to determine If there Is any visible active lormlle Imrealation or
<br />1'56 Mafbla damage tram termite infesrellon, escm4ing fences. If @Other or both arm [guild, Buyer shall have 4 days from date of written notice Ihereot
<br />157 within which to have coal or Uealment, if required, estimated by the Operator and all damage inspected and estimated by a licensed builder or
<br />158 Water contractor. Sellar shall pay valid casts 01 1(621menl and repair or SN damage up to the ampun,. provided in Paragraph %111101- 11
<br />159 ■stlmal.ed coals exceed that amrounl, Buyer (hall hew the upllen O1 canceling this C01111410 wdirto 5 day& after fecaipt of cantf@csor•s repair
<br />160 antitrust@ by giving written notice to Sprier of B9y4f (hay *;act to proceed with the tfsAsacluri. and ftceivw a credit at cloning an the arrewnl
<br />162 COWR l c Paragraph %iH(a). 7armuat" shah be de4med to include all woad destroying organisms required to be Imported ander the Florida Past
<br />td? Control Ael, a% amended
<br />163 E...INGRESS AND EGRESS: Setter warrants and represents that [here is ingress and egress to the real properly tulrtcrent for tie Inte
<br />164 e.8 desci bed On Parag FaOh VII hereat. lYlia 10 which rs in accordance with Slanditd A. ended s@
<br />165 to anA specifying
<br />Sellar shall, not leas than 15gays before closing, furnish Io BuyeF COpIOS Of all written lasses and estoppel tellers. from each
<br />186 tenant ep;cYlyYnp She nafufe and duration of In@ tenant's Occupancy, rental Islas, advanced rens and security deposit paid by tenant. Of Setter is
<br />167 unable to obtain such lOtle( from each tenant, the some rnl04malion shall be furnished by Seller and Boyar wtthrn OHa�lrme period in she #cart of s
<br />log Seller's affidavit, and Buyer may lherealler cOntOc1 lanant 10 confirm such mforrfation Sellar nhall, a, [lasing. deliver and Assign in
<br />elf form
<br />original
<br />169 leases 10 Buyer.
<br />170 G. LIENS: Seller snail furnish 10 Buyer at Imre of closing an affidavit atlesling 10 the absence, unless othsrwha provided For
<br />171 financing statement, claims or lien or potential lien UF1 known fa Seller and furlhef aHelting that that* have been no improve Is is or rn, here rnany
<br />of or to
<br />172 the real property for 00 days Fmmediately pfecam
<br />dg date of cOasing. if Ina real property has neon imprend or repalrad wilhfr that Ilene, Seller
<br />173 shall dsifvar relmakos or waiver@ of eonalructiod liens a%@culad by all general contraotoTo' aubcont(aclan_ supplier$ ORO rnaserl@linen in adddign
<br />174 10 Sellers Iran affidavit %suing lorlh The nameS al all such g*neral contractors, eubconlrpCtura, suppllats and malarialmeh, further afflFming that
<br />175 sit Charges for Improvem@nt@ Or repairs which Could'er" as a basis for a conslruellon lien or a claim for emmago@ hew Option geld or will be ,paid
<br />176 a( the closing of this Contract.
<br />117 H. PLACE OF CLOSING: Closing Strait he laid in the County wherein the fast properly is located a, the office of the attorney or Other closing
<br />176 agent ('Closing Agent') designated by Sailer.
<br />170 t. TIME: In computing It" gonads of less than it. f0 days, Saturdays. Sundays and nista or
<br />lap per,Ods provided for harem which shall end on a Satutday. Sunday, or a legal holiday lhal'I a of nitnalmnal io 5 dd p m . of the nail bis1194PI hoNdays 1111811111118111 hluded- Any lime
<br />aa axe04c dap. Time is a,
<br />lel the aasanceInthis Comrsdt.
<br />182 J. CLO31HO DOCUMENTS: Sailer shall fufa,sh the dead, bill Of sate, cpnstrutllpn Iran affidant, owners possession affidavit. assignments of
<br />163 losses, 1*nant and mortgagee O4loppe1 letters and corrective instrunldnts. Buyer shall furnish closing slatomant. m irlgage, mgflQage "I@
<br />lE4 tOCUrlly agreement and Financing slslamwnts-
<br />185
<br />K. EXPENSES; Odeu.msnlary clamps an the deed and recording of correcllva In+tFumanis shall be paid by Seller. Documentery Stamps and
<br />tae Intangible tar an the purchase rnonay mortgage and any mortgage aeeumad, mortgagee Alla insurance comirbilmenl with fainted fees, and
<br />Iso recordingr10' is Contipurchase t money rnp 194110 lg S4116r, Used and financYhq statements shell on paid by Boyar. Unless o[harwisa provided by taw or
<br />188 rider fa 1hP& Contract. charges fcr she fotbawing ratalmd 11110 16rvlCee, namely 11110 or abslracl Charge, title ee.emin etian, end Hlibetanl
<br />feq and dlq Sing tea, ahall be paid by iha party fpsliansibre tur furnishing the IIII6 evdpene■ Iry acCardancr with Ruagreph V.
<br />100 L. PRDAATiONs, CRE DITa: Texas, assassme Are. ran,, Intmtes t, insurance and other expenses Of Ins Properly shall be prorated lhfough Ina
<br />161 day before Closing. Buyer shall have the Option of faking over @x16ting policies or Insurance, it assumsbla, In which event premiums shall be
<br />192 pf*ratmd. Cash at closing shall be increased ar detreassid ss May be required by prorsNans to be made through day prior Io erasing, of occupancy,
<br />193 If Occupancy Occurs WWII Closing. Advance rent and s@cu(Ity deposits will be credhad to Buyer Escrow depolits held by mortgagee will be
<br />194 credited to Seller. Taxes shall be prorated erased on,ho current ya2r's las with due allaa"CO roads for oras(mum sloe -able discount, h0meslsad
<br />105 and Other exemptions. It closing occurs e.l a pate when the Ourreal yomrs mlNape fa notwfixed slid current year's. axaae@mans to Available, luta
<br />196 will be prorarod bated upon such asse@sment and prior year's mfllops, If currant year's assassmenl is not available. Inert taxes will be prpraud
<br />197 an prior year's lex. If there @re. completed Ymprowmwnls do !ho feel praper,y by Jmnuery isl p1 yrer of chalnp, which ImprOvemenle we(a not o
<br />195 existence an January Ist of prior year, than uses Shall be prorated bated upon prior year'& tri pe pa and et sr, nqu while ■ ipfavernern s0 ba agreed
<br />l99 upon. ealxaan iha parllu; 10IIInp which, fequast shell be (nada to 1r,@ County properly Appraiser ro• an ialarouil salestn.anl taking into accuwm
<br />200 available exemptions. A lax proration based an an aH.m2le phall, al request of either parry, be rtadjustod upon feC0lpr of lax bill i n condition
<br />201 that A @!affront to that Offset is signed at closing.
<br />ally ar f 1 ( /rf f/ and Sell" ( t � scinvwledge forAlpt of a copy of this page.
<br />F ARISAR.5 R;v, 8196 COPYRIGHT 1998 THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORS®
<br />This Form is licensed for use vdlh T-Ormulatensra Fomn Sort,ware by ISG McAllister Publishing, Inc 000.3.'ID•7OZ7
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