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<br />THIS FORM HAS BEEN APPROVED BY THE
<br />FLORIDA ASSOCIATION OF REALTORS® AND THE FLORIDA BAR.
<br />P
<br />Contract for Sale and Purchase
<br />FLORIDA ASSOCIATION OF REALTORSD
<br />AND THE FLORIDA BAR
<br />'1 PARTIES: 8untr•e Partnerahio ("Seller"),
<br />Florida 3]941 (Phone) (800) 733-63e ,
<br />2 of
<br />P.O.�Qtc 410999. Nelbourne.
<br />Anhdivisinn of the Stats Of Florida _ ("buyer).
<br />'3 and
<br />4 of
<br />Indian River County A Polirinel
<br />1840 35th Street Vero Beach Florida 31910 (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 1.
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<br />DESCRIPTION:
<br />(a) Legal description of the Real Property located in Indian River County, Florida:
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<br />See Lggal Deacr Rtion Bahibit "1t" attach eroto and made a Dart hereof,
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<br />(b) Street address, city, zip, of the Property is: 5th Street 9W 1pFgposad r j ght of -rayl
<br />Not•r
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<br />(c)Personal Property: None 10,764,5 B1guare feet 01 00 y6r aguar• foot_ 'oningt R8-3.
<br />f r.,,,. he
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<br />An a condition of this contrast Buver agrees�retaova the building-
<br />Tract at CoL14exceed 97,099,00)
<br />$ 10.765.00
<br />15 11.
<br />PURCHASE PRICE: ................................................ ................................ _ ...........................................................................
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<br />PAYMENT:
<br />(a)Deposit held In escrow by (Escrow
<br />-0-
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<br />Agent) in the amount of............................................................................................................................................5
<br />(b)Additional escrow deposit to be made to Escrow Agent within _da s after Effective Date (see
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<br />Paragraph 111) in the amount of.......................................................................................................................................S -0-
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<br />(c) Subject to AND assumption of existing mortgage in good standing in favor of
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<br />having an approximate present principal balance of ...................$ -0-
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<br />(d) New mortgage financing with a Lender (see Paragraph IV) in the amount of.................................................3 -0-
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<br />(e) Purchase money mortgage and note to Seller (see rider for terns) in the amount of..................................5 -0-
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<br />(f ) Other. $ -0
<br />(g) Balance to close by U.S. cash or LOCALLY DRAWN cashiers or official bank check(s), subject
<br />'27 to adjustments or prorationS......................................................................................................................................5 10.765.00
<br />28 111. 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 Buyers option, be retumed 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. A facsimile copy of this Contract and any signatures hereon shall be considered
<br />33 for all purposes as an original. Please Note: This Contract is subject to Indian River County Final Approval.
<br />34 IV. FINANCING:
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<br />® (a) This is a cash transaction with no contingencies for financing;
<br />❑ (b) This Contract is conditioned on Buyer obtaining a written loan commitment within — days after Effective Date for
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<br />(CHECK ONLY ONE): ❑ a fixed; Elan adjustable; or ❑ a fixed or adjustable rate loan in the principal amount of
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<br />$ , at an initial interest rate not to exceed % , discount and origination fees not to exceed _ %
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<br />of principal amount, and for a term of years. Buyer will make application within —days (5 days if left blank) after
<br />Date diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of
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<br />Effective and use reasonable
<br />the commitment and close the loan. Buyer shall pay all loan expenses. if Buyer fails to obtain a commitment or fails to waive
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<br />Buyers rights under this subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the
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<br />terns and conditions of the commitment by the closing date, then either party thereafter, by written notice to the other, may
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<br />cancel this Contract and Buyer shall be refunded the deposit(s); or
<br />❑ (c) The existing mortgage, described in Paragraph 11(c) above, has: ❑ a variable interest rate; or ❑ a fixed interest rate of
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<br />% per annum. At time of title transfer, some fixed interest rates are subject to increase; if increased, the rate shall not
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<br />_
<br />exceed % per annum. Seller shall furnish a statement from each mortgagee stating the principal balance, method of
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<br />_.
<br />payment, interest rate and status of mortgage or authorize Buyer or Closing Agent to obtain the same. If Buyer has agreed to
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<br />assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the
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<br />necessary application and diligently complete and return it to the mortgagee. Any mortgagee charge(s), not to exceed
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<br />$ (1% of amount assumed if left blank), shall be paid by Buyer. H Buyer is not accepted by mortgagee or
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<br />the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in
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<br />excess of the stated amount. Seller or Buyer may rescind this Contract by written notice to the other party unless either
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<br />elects to pay the increase in interest rate or excess mortgage charges.
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<br />V. TITLE EVIDENCE: At least _ days before closing date, (CHECK ONLY ONE): ❑ Seller shall, at Sellers expense, deliver
<br />Buyer Buyers attorney; or ®Buyer shall at Buyers expense obtain ®abstract of title; or JK title
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<br />to or
<br />insurance commitment (with legible copies of instruments listed as exceptions attached thereto) and, after closing, an owners
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<br />policy of title insurance.
<br />VI. CLOSING DATE:This transaction shall be closed and the closing documents delivered on or before 60 days ,
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<br />unless modified by other provisionsofthis onlract. from 'Effective Date" (see III)
<br />realpt or a copy or this Paye.
<br />Buyer( COG ) ( MA/ 1 and Seller ( ( 1 acknowledge
<br />FARrBAR-5 Rev. 8198 RIDERS CAN BE O INED FROM THE FLORIDA ASSOCIATION OF REALTORS® OR THE FLORIDA BAR
<br />This
<br />form is licensed for use with Fotrtmulestoe Forms Software by ISG McAllister Publishing. Inc. 800-338-1027
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