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`, ✓ THIS FORM HAS BEEN APPROVED BY THE
<br />FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR.-/
<br />Contract for Sale and Purchase
<br />FLORIDA ASSOCIATION OF REALTORS®
<br />AND THE FLORIDA BAR Q r- ..
<br />'1 PARTIES: Oak Chase Deyg1gpmy= L.L.0
<br />2 Of P.O.Box 442 Mamaroack NY 10543 (Phone) _214-216-9240 ,
<br />'3 and radian River iy-.-�8 a' { T h�i '� "�"^ F she State of Florida ("Buyer"),
<br />4 of 1840 25th Street Vero Beach Florida 32960 (Phone) (561) 567-8000,
<br />5 hereby agree that Seller shall sell and Buyer shall buy the following described real property and personal property (collectively
<br />6 "Property") pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract"):
<br />7 L DESCRIPTION:
<br />'8 (a) Legal description of the Real Property located in indien lxiyer County, Florida:
<br />9 See Legal Description Exhibit "A" attached hereto and made a part hereof,
<br />10
<br />'11 (b) Street address, city, zip, of the Property is: 33rd Street right of way per site plan Oak Chase SID
<br />'12 (c) Personal Property: None. RS -3 gone parcel meAnurIng 20.01 x 632 All containing 29 acres
<br />13 per ilore
<br />fl '(O cy0
<br />14
<br />15 11. PURCHASE PRICE: ................................................. V..............................................................................................$^i.218,A9 -O''
<br />16 PAYMENT:
<br />'17 (a) Deposit held in escrow by (Escrow
<br />'18 Agent) in the amount of.................................................................................................................................................$ -0-
<br />'19 (b)Additional escrow deposit to be made to Escrow Agent within days after Effective Date (see
<br />'20 Paragraph III) in the amount of.....................................................................................................................................$ -0-
<br />'21 (c) Subject to AND assumption of existing mortgage in good standing in favor of
<br />22 having an approximate present principal balance of ...................$ -0-
<br />'23 (d) New mortgage financing with a Lender (see Paragraph IV) in the amount of .................................................$ -0-
<br />'24 (e) Purchase money mortgage and note to Seller (see rider for terms) in the amount of ..................................$ -0-
<br />'25 (f)Other: $ -0-
<br />26 (g)Balance to close by U.S. cash or LOCALLY DRAWN cashier's or official bank check(s), subject r 010, (x., ILSC
<br />'27 to adjustments or prorations.........................................................................................................................................$ �.�30, ee 4✓
<br />28 Ill. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties
<br />'29 OR FACT OF EXECUTION communicated in writing between the parties on or before N/A , the deposit(s)
<br />30 will, at Buyer's option, be returned and this offer withdrawn. For purposes of delivery or notice of execution, parties include Buyer
<br />31 and Seller or each of the respective brokers or attorneys. The date of Contract ("Effective Date") will be the date when the last
<br />32 one of the Buyer and Seller has signed this offer. Afacsimile copy of this Contract and any signatures hereon shall be considered
<br />33 for all purposes as an original. NOTE: THIS CONTRACT IS SUBJECT TO INDIAN RIVER COUNTY FINAL APPROVAL.
<br />34 IV. FINANCING:
<br />'35 ❑ (a) This is a cash transaction with no contingencies for financing;
<br />'36 ❑(b)This Contract is conditioned on Buyer obtaining a written loan commitment within _ days after Effective Date for
<br />'37 (CHECK ONLY ONE): ❑ a fixed; Elan adjustable; or ❑ a fixed or adjustable rate loan in the principal amount of
<br />'38 $ , at an initial interest rate not to exceed % , discount and origination fees not to exceed "/o
<br />'39 of principal amount, and for a term of years. Buyer will make application within _ days (5 days if left blank) after
<br />40 Effective Date and use reasonable diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of
<br />41 the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or fails to waive
<br />42 Buyer's rights under this subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the
<br />43 terms and conditions of the commitment by the closing date, then either party thereafter, by written notice to the other, may
<br />44 cancel this Contract and Buyer shall be refunded the deposit(s); or
<br />'45 ❑ (c) The existing mortgage, described in Paragraph II(c) above, has: ❑ a variable interest rate; or ❑ a fixed interest rate of
<br />'46% perannum. At time of title transfer, some fixed interest rates are subject to increase; if increased, the rate shall not
<br />'47 exceed % per annum. Seller shall furnish a statement from each mortgagee stating the principal balance, method of
<br />48 payment, interest rate and status of mortgage or authorize Buyer or Closing Agent to obtain the same. If Buyer has agreed to
<br />49 assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the
<br />50 necessary application and diligently complete and return it to the mortgagee. Any mortgagee charge(s), not to exceed
<br />'51 $ (1% of amount assumed if left blank), shall be paid by Buyer. If Buyer is not accepted by mortgagee or
<br />52 the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in
<br />53 excess of the stated amount, Seller or Buyer may rescind this Contract by written notice to the other party unless either
<br />54 elects to pay the increase in interest rate or excess mortgage charges.
<br />'55 V. TITLE EVIDENCE: At least days before closing date, (CHECK ONLY ONE): ❑ Seller shall, at Seller's expense, deliver
<br />'56 to Buyer or Buyers attorney; or ®Buyer shall at Buyer's expense obtain $$fi IM)LjfyL/(/4VeV ®abstract of title; or ®title
<br />57 insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owner's
<br />58 policy of title insurance.
<br />'59 VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on or before 60 days ,
<br />60 unless modified by other provisionshIsContract. from "Effective Date" (see III)
<br />Buyer (�_) ( L .[o✓ ) and Seller I ) ( ) acknowledge recelpt of a copy of lhls page.
<br />FAR/BAR-5 Re, B/gs RIDERS CAN BE OBTAINED FROM THE FLORIDA ASSOCIATION OF REALTORSa OR THE FLORIDA BAR
<br />This form is licensed for use with Foemulatore Forms Software by ISG McAllister Publishing, Inc. 800-336-1027
<br />gCru)Lu To Cou.tf-,r
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