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89 cc) Taxes, Assessments, and Pro rations : The following items will be made cut . . fit and prorated X as of Closing Date 90 1 as of real estate taxes, bond and assessment payments assumed by Buyer, interest, rents , 91 association dues, insurance premiums acceptable to Buyer, operational expenses and 92 If the amount of taxes and assessments for the current year cannot be ascertained, rates for the previous year will be 93 used with due allowance being made for improvements and exemptions . Seller is aware of the following assessments 94 affecting or potentially affecting the Property: 95 Buyer will be responsible for all assessments of any kind which become due and owing on or after Effective Date, unless 96 the improvement is substantially completed as of Closing Date, in which case Seller will be obligated to pay the entire 97 assessment. 98 (d ) FIRPTA Tax Withholding : The Foreign Investment in Real Property Act ("FIRPTA") requires Buyer to withhold at 99 closing a portion of the purchase proceeds for remission to the Internal Revenue Service ("I . R. S.") if Seller is a "foreign 100 person" as defined by the Internal Revenue Code . The parties agree to comply with the provisions of FIRPTA and to 101 provide , at or prior to closing , appropriate documentation to establish any applicable exemption from the withholding 102 requirement. If withholding is required and Buyer does not have cash sufficient at closing to meet the withholding 103 requirement, Seller will provide the necessary funds and Buyer will provide proof to Seller that such funds were properly 104 remitted to the I . R.S. 105 6. ESCROW: Buyer and Seller authorize N/A 106 Telephone: __ . Facsimile: Address: 107 _ to act as "Escrow Agent" to receive funds and other items and, subject to clearance, 108 disburse them in accordance with the terms of this Contract. Escrow Agent will deposit all funds received in ❑ a non-interest 109 bearing escrow account ❑ an interest bearing escrow account with interest accruing to 110 with interest disbursed (check one) Tat closing ❑ at intervals. If Escrow Agent 111 receives conflicting demands or has a good faith doubt as to Escrow Agent's duties or liabilities under this Contract, he/she 112 may (a) hold the subject matter of the escrow until the parties mutually agree to its disbursement or until issuance of a court 113 order or decision of arbitrator determining the parties' rights regarding the escrow or (b) deposit the subject matter of the 114 escrow with the clerk of the circuit court having jurisdiction over the dispute. Upon notifying the parties of such action, Escrow 115 Agent will be released from all liability except for the duty to account for items previously delivered out of escrow. If a licensed 116 real estate broker, Escrow Agent will comply with applicable provisions of Chapter 475 , Florida Statutes . In any suit or 117 arbitration in which Escrow Agent is made a party because of acting as agent hereunder or interpleads the subject matter of 118 the escrow, Escrow Agent will recover reasonable attorneys' fees and costs at all levels, with such fees and costs to be paid 119 from the escrowed funds or equivalent and charged and awarded as court or other costs in favor of the prevailing party. The 120 parties agree that Escrow Agent will not be liable to any person for misdelivery to Buyer or Seller of escrowed items, unless 121 the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence. 122 7. PROPERTY CONDITION : Seller will deliver the Property to Buyer at the time agreed in its present "as is" condition, 123 ordinary wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition . Seller makes no 124 warranties other than marketability of title. By accepting the Property "as is ," Buyer waives all claims against Seller for any 125 defects in the property. (Check (a) or (b)) 126 X (a) As Is : Buyer has inspected the Property or waives any right to inspect and accepts the Property in its "as is" 127 condition. 128 ❑ (b) 129 130 131 132 133 134 135 136 137 138 BIN&ge iee Pe -meet of B I - t Property is aeeepteb'e. Buye is failure te es pl) illig this 139 140 141 142 143 144 145 1 a i eel a tie's Heil bell v filed evelgai the P -epeAy " Khaidt Belle 'a p ic - voritte 9 ..Imil Igig 1 -8498etiasi 146 147 14879Frf 149 . 150 Buyer and Sell nowledge receipt of a copy of this page, which is page 3 of 5 Pages. CC-2 ©1997 Florida Association )rof�R,EALTORSO All Rights Reserved This form produced by: FQj%] 800-499-9612