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277 from Seller's breach and may seek to recover such damages or seek specific performance. Seller will also be
<br /> 278 liable for the full amount of the brokerage fee.
<br /> 279 (b) Buyer Default: If Buyer fails,neglects, or refuses to perform Buyer's obligations under this Contract,
<br /> 280 including payment of deposit(s),within the time(s)specified,Seller may elect to recover and retain the
<br /> 281 deposit(s), paid and agreed to be paid,for the account of Seller as agreed upon liquidated damages,
<br /> 282 consideration for execution of this Contract,and in full settlement of any claims,whereupon Seller and Buyer
<br /> 283 will be relieved from all further obligations under this Contract;or Seller,at Seller's option, may proceed in
<br /> 284 equity to enforce Seller's rights under this Contract.
<br /> 285 17. Attorney's Fees; Costs: In any litigation permitted by this Contract, the prevailing party shall be entitled to
<br /> 286 recover from the non-prevailing party costs and fees, including reasonable attorney's fees, incurred in conducting
<br /> 287 the litigation.This Paragraph 17 shall survive Closing or termination of this Contract.
<br /> 288 18. Escrow Agent; Closing Agent: Seller and Buyer authorize Escrow Agent and closing agent(collectively
<br /> 289 "Agent")to receive,deposit,and hold funds and other items in escrow and,subject to Collection,disburse them
<br /> 290 upon proper authorization and in accordance with Florida law and the terms of this Contract,including disbursing
<br /> 291 brokerage fees."Collection"or"Collected'means any checks tendered or received have become actually and
<br /> 292 finally collected and deposited in the account of Agent.The parties agree that Agent will not be liable to any person
<br /> 293 for misdelivery of escrowed items to Seller or Buyer,unless the misdelivery is due to Agent's willful breach of this
<br /> 294 Contract or gross negligence. If Agent interpleads the subject matter of the escrow,Agent will pay the filing fees
<br /> 295 and costs from the deposit and will recover reasonable attorneys'fees and costs to be paid from the escrowed
<br /> 296 funds or equivalent and charged and awarded as court costs in favor of the prevailing party.
<br /> 297 19. Professional Advice; Broker Liability: Broker advises Seller and Buyer to verify all facts and representations
<br /> 298 that are important to them and to consult an appropriate professional for legal advice(for example, interpreting this
<br /> 299 Contract,determining the effect of laws on the Property and this transaction, status of title,foreign investor
<br /> 300 reporting requirements, the effect of property lying partially or totally seaward of the CCCL,etc.)and for tax,
<br /> 301 property condition,environmental,and other specialized advice.Buyer acknowledges that all representations
<br /> 302 (oral,written,or otherwise)by Broker are based on Seller representations or public records. Buyer agrees to rely
<br /> 303 solely on Seller, professional inspectors,and government agencies for verification of the Property
<br /> 304 condition and facts that materially affect Property value.Seller and Buyer respectively will pay all costs and
<br /> 305 expenses,including reasonable attorneys'fees at all levels, incurred by Broker and Broker's officers,directors,
<br /> 306 agents,and employees in connection with or arising from Seller's or Buyer's misstatement or failure to perform
<br /> 307 contractual obligations. Seller and Buyer hold harmless and release Broker and Broker's officers,directors,
<br /> 308 agents,and employees from all liability for loss or damage based on(i)Seller's or Buyer's misstatement or failure
<br /> 309 to perform contractual obligations;(ii)the use or display of listing data by third parties,including, but not limited to,
<br /> 310 photographs, images, graphics,video recordings, virtual tours,drawings,written descriptions,and remarks related
<br /> 311 to the Property; (iii) Broker's performance,at Seller's or Buyer's request,of any task beyond the scope of
<br /> 312 services regulated by Chapter 475, Florida Statutes, as amended,including Broker's referral, recommendation,or
<br /> 313 retention of any vendor;(iv)products or services provided by any vendor; and (v)expenses incurred by any
<br /> 314 vendor.Seller and Buyer each assume full responsibility for selecting and compensating their respective vendors.
<br /> 315 This Paragraph will not relieve Broker of statutory obligations.For purposes of this Paragraph, Broker will be
<br /> 316 treated as a party to this Contract.This Paragraph will survive closing.
<br /> 317 20. Commercial Real Estate Sales Commission Lien Act: If the Property is commercial real estate as defined by
<br /> 318 Section 475.701, Florida Statutes,the following disclosure will apply: The Florida Commercial Real Estate Sales
<br /> 319 Commission Lien Act provides that when a broker has earned a commission by performing licensed services
<br /> 32C under a brokerage agreement with you,the broker may claim a lien against your net sales proceeds for the
<br /> 321 broker's commission.The broker's lien rights under the act cannot be waived before the commission is earned.
<br /> 322 21. Brokers: The licensees) and brokerage(s) named below are collectively referred to as"Broker." Instruction to
<br /> 323 closing agent: Seller and Buyer direct Closing Agent to disburse at Closing the full amount of the brokerage
<br /> 324 fees as specified in separate brokerage agreements with the parties and cooperative agreements between the
<br /> 325 Brokers,except to the extent Broker has retained such fees from the escrowed funds.This Paragraph will not be
<br /> 326 used to modify any offer of compensation made by Seller or listing broker to cooperating brokers.
<br /> 327 NONE NONE
<br /> 328 Seller's Sales Associate/License No. Buyer's Sales Associate/License No.
<br /> Buyer(�w)( )and Seller ;/�( )acknowledge receipt of a copy of this page,which is 6 of 8 pages.
<br /> VAC-14p&x Rev 8/24 02024 9orida Realtors®
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