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<br />M.,SPECIAL ASSESSMENT LIENS; Ceflifled, Conflfined and ratified special assessment Ilene us of dale of closing (not as of EFfecllve Date)
<br />are to he paid by Seller. Pending liens as of date of closing shall bo nesumud by Buyer. It the Improvement has been substantially completed as
<br />of Effective Data. any ponding ]Ion shall be coraldared certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to
<br />the last eallmate or assessment for the Improvement by the public body.
<br />N,tNSPECTION, REPAIR AND MAINTENANCE: Seller warrants that the telling, roof (Including the fascia and soffi(s) and exterior and
<br />Interior walls, foundation, eenwolls (or equivalent) and dockage do not have any Visible Evidence of looks, water damags or structure] damage
<br />and that the septic lank, pool, all appliances, mechanical Items, hoaling, cooling, electrical,. plumbing systems and mac hlnory are In Working
<br />Condition. The foregoing warranty shall be limited to the Items specified unless olherwlse provided In an addendum. Buyer may, at Buyar'S
<br />expense, have inspections made of those home wllhln. 20 days after the Effecllve, Date, by a firm or Individual spoeiallzing In home Inspacllons
<br />end holding an occupational ilcense for such purpose (if raqulrod) ar by an appropriately Ilconsed Florida contraGlor, and Buyer shall, prier
<br />to Buyer's occupancy, but not more than 20 days after EffO0I1ve Date, report In wrltlhg to Soll9r suCh Ilam5 that de not moot the above slanderds
<br />as to defects, unless Buyer timely FepOttS Such defects, Buyer shall be doomed to have waived Sollar's warranties as to defects not reported.
<br />If repalFS or raplacemenle are required to comply with Ihls Standard, Seller shall Gauss them to be made and shell pay up to the smlunt
<br />provided In Paragraph XIII (b). Seller Is not required to make repairs or replecomenls of a Cosmetic Condlllon unless caused by a defect Sailer
<br />I5 responsible to repair or replace. If the coal for such repair OF replacement exceeds the amount provided in Paragraph XIII (b}, Buyer and Salter
<br />may elect to pay such excess, falling which either party may cancel this Contract. If Seller is unable to Conant the defects prior to closing, the
<br />cost thereof shall be paid Into escrow at closing. Seller shall, upon reasonable notice, provide utilities service and access to the Properly for
<br />Inspections, Including a walk-through prior to closing, to confirm that ail hams Of personal property are on the real property and, subject to the
<br />foregoing, that all required repalre and replacalnartta have bean made end that the Property, Including, but not limited to, lawn, shrubbery and pool.
<br />If any, has been maintained In the condition existing as of Effective Dale, ordinary wear and leer excepted. For purposes OF this Contract: (a)
<br />'Working Condlllon` moans operating In the manner In which the Item was designed to operate; (b) 'Cosmetic Condlllon' means sestheltc
<br />Imperfecllons that do not affect lhn working condition of the Item. Including, but not Itmlled to: pllted mafoltet missing or torn scroons: fogged
<br />windows; (sots, worn spots, or discoloration of floor coverings, wallpaper, or window treatments; nail holes, sc rate has, dente, scrapes, chlps Or
<br />caulking In callings, walls, floorings, Fixtures, or mlrrora; and m1for cracks In floors, tiles, windows, driveways, sidewalks, or pool docks; and (cj
<br />cracked roof tilos, curling or worn shingles, or limited roof life shell not be considered defects Seller must rapelr or replace, so long as there la no
<br />evidence of actual leaks or leakage or slrucirual damege, but missing Was will be Seller's responsibility to replace or repair.
<br />O. RISK OF LOSS: If the Property In damaged by fire or other casualty before closing and cost of Featdratlon does not exceed 3% of Rha
<br />assessed valuation of the Property so damaged, cost of re5lorallon shall be an obilgolfon of Seller and closing Shall proceed pursuant to Ina
<br />terms of this Contract with restoration costa escrowed at closing. IF the cost Of restoration exceeds 3% of the assessed valuation of Ihs
<br />Properly so damaged, Buyer shell have the option of allhsr taking the Property as Is, together with either the 3% or any Insurance proceeds
<br />payable by virtue of such loss or damage, or of ca000ling this Contract and receiving return of the doposh(s).
<br />P.PROGEEDS OF SALfl; CLOSING PROCEDURE; The deed shall be recorded upon clearance of funds. if an abstract or (1110 has been
<br />furnished. evidenco of title ahull be corttlnued at Buyer's expense to show title In Buyer, without any oncumbrancas or change which wound render
<br />Seller's title unmarketable from the date of the last evidence. All closing proceeds shall be held in escrow by Sollar's attorney or other mutually
<br />acceptable escrow agent for a period of not more then 5 days after closing date. If Seller's title is rendered unmorkelablo, through no fault of
<br />Buyer, Buyer shall, within the 5 -day period, notify Seller In writing of the defect and Seller shall have 30 days from dale of receipt of such
<br />notification to cure the defect. If Sailor fails to timely cure the defect,all deposll(s) and closing funds shall, upon written demand by Buyer and
<br />wEthln 5 days after demand, be returned to Buyer and, elmullaneously with such repayment, Buyer shall return the personal property, vacate the
<br />real property and feconvoy the Properly to Sellar by special warranty dead and bill of sale. IF Buyer tolls to make timely demand for refund. Buyer
<br />shell take (tin as Ea, waiving all rights against Seller as to any Intervening defect except as may be available In Buyer by virtue of warranties
<br />contained in the dead or bill of sale. If a portion of the purchase price IS to be darlvad from Institutional financing or refinancing, requirements
<br />of Ilia lending Institution as to place, [line of day and procedures for closing, and for dlsbursement of mortgage proceeds shall control over
<br />contrary provlslon In this Contract. Seller shall have the rlghl to require from the lending Institution a written commitment that It will not
<br />withhold dlsburaement Of mortgage proceeds as a FBSull Of any title defect attributable to Buyer mor(gloOf. The escrow and closing procedure
<br />required by this Standard shall be waived If the title agent Ineures adverse matters pursuant to Section 827.7841, F.S., as amended.
<br />G. ESCROW: Any escrow agent ('Agent*) receiving funds or equivalent Is authorlaed and norsds by acceptance of them to deposit them
<br />promptly, hold same In escrow and, subject to clearance, disburse them In accordance with terms and conditions of this Contract. Fallure of
<br />funds to clear shall not excuse'Buyer's performance. If In doubt as to Agent's duties or liabilities under the provisions Or this Contract. Agent
<br />may, at Agent's option, continua to hold the subject matter of the escrow until the parties herelo agree to Its disbursement or until. a Judgement
<br />of a court of competent jurladlei Ion shall determine the rights of the parties, or Agenl may deposit Rome with the ctefk of (he circuit court having
<br />jurlsdlctlon of the dISPUIO. Upon notifying all parties concerned of such action, all liability on (ha part of Agent shall fully tefminate, exGepl to
<br />the extent of accounting for any Rema previously delivered out of escrow. If a licensed rear estate broker, Agent will comply with provlslons of
<br />Chapter 475, F.S.., as amended. Any suit between Buyer and Sollar whcraln Agent Is made a party because of acting as Agent hareunder, Of In any
<br />suit whefln Agent Inlarploads the subject matter of the escrow, Agent shall recover reasonable atlmney'S fees and COSI5 Indnf Fad with these
<br />amounts to be paid from and out of the escrowed funds or equlvalent and charged and awarded as court costs In favor of the prevailing party. Tie
<br />Agent shall not be liable to any party or parson for misderlvory to Buyar or Sollar of Items subject to the escrow, unless such misdaNvery Is due to
<br />willful broach of the provisions OF thin ConlraCI. Or gross negligence of Agont.
<br />R.ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or Interpreletien, 81131119 out of Ihla Contract, the pravailing
<br />party In such litigation, which, for purposes OF this Standard, shall Include Seller, Buyer and any brokers acting In agency or nonegency
<br />relationships aulhorizad by Chapter 475, F.S., as amended, shall be entitled to tee Over from the non-prevalling party reasonable attorney's fees,
<br />cents and expenses.
<br />S. FAILURE OF PERFORMANCE; If Buyer falls In perform this Contract within the time specified, Including payment of all deposits, the
<br />deposit(s) paid by Buyer and deposlt(s) agreed to be quid, may be recovered and retained by and for the account of SeIltrr as agreed upon
<br />liquidated damagas, consideration for rho execution Of this Contract and In full settlement of any claims; whereupon. Suyur and Seller shall be
<br />rat'leved of a61 obligations udder this Contract; or Sailor. at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If
<br />for any reason other than failure Of Seller to make Sollar's title marketable after diligent effort. Seller falls, neglects or rafoses to perform this
<br />Contract, Buyer may seek specific performance or 81001 to reCelvB 1118 return of Buyer's deposit(s) without thereby waiving any action far
<br />damages resulting from Sollar's breach.
<br />T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE. Neither this Contract nor any notice of It shall he recorded In any public
<br />records This Contract shall bind and Inure to the benefit of the parties and their aucceSSOFS In l0t051, whenever the context parmlls, singular
<br />shell Include plural and one gender shall include all. Notice given by or to the attorney for any party shall be as effective as If given by or to that
<br />party.
<br />U. CONVEYANCE: Seller shall convey title to the real property by statutory warranty. Irustoe'S, personal representative's or guardian's dead, as
<br />appropriate to the status of Sailer, subject only to matters, contained In Paragraph VII and those otherwise accepted by Buyer. Persona[ property
<br />shelf, at the request of Buyer, be transferred by an absolute bill of sale with warranty Of Mlle, subject only to such matters as may be oiharwlsa
<br />provided for herein.
<br />V. OTHER AGREEMENTS: No prior or present ogroemenls of rapresenlallons shall be binding upon Buyer or Sellar unless Included In this
<br />Contract. No modlflcatlon to or change in this Contract shall be valid or binding upon tho parties unless to wrlNng and executed by 1110 party Or
<br />parties Intended to be bound by ll.
<br />W. WARRANTY: Seller warrants that there are no facts known to Seller malorially affecting the value of the Property which are not readily
<br />observable by Buyer or which hnva not been disclosed to Buyer.
<br />Buyer( (_J and Seller ('� ' ) I Y acknowledge reCelpt of a copy Of this p29o,
<br />FAR.tBAR-5 Rev. 8706 COPYRIGHT 1998 THE FLORIDA BAR AND THE F LOR I DA ASSOC IAT ION OF REALTOR S6:
<br />This form is licensed for use with Furmula tore Forms Software by ISG McAllister Publishing, Inc, 800-336-1027
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