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HomeMy WebLinkAbout2013-157 8 ~>� utJ a0i3 " AS IS " Residential Contract For Sale And Purchase , , FloridaRealtors THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR The Voice for Real Estatelin Florida 1 * PARTIES : Bamaric of VB , LLC (" Seller") , 2* and Indian River County (" Buyer" ) , 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively " Property" ) pursuant to the terms and conditions of this AS IS Residential Contract For Sale 5 And Purchase and any riders and addenda (" Contract" ) : 6 1 . PROPERTY DESCRIPTION : 7* (a) Street address , city , zip : 5020 26th St. Vero Beach , FL 32966 6* ( b ) Property is located in : Indian River County, Florida. Real Property Tax ID No: 32393300001015000002 . 0 9* (c) Legal description of the Real Property : Indian River Farms Co . Sub . PBS 2- 12 W 134 . 3 feet of S . 270 feet of W 10 10* Acres of Tr 15 , as recorded in OR Book 387 pg 143 and also less por for add r/w on 26th St. per PBI 14- 18 11 together with all existing improvements and fixtures , including built-in appliances , built-in furnishings and 12 attached wall-to-wall carpeting and flooring (" Real Property " ) unless specifically excluded below. 13 (d ) Personal Property : The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are included in the purchase (" Personal Property " ) : ( i ) range (s)/oven (s) , dishwasher(s) , 15 disposal , ceiling fan (s) , intercom , light fixtures , rods , draperies and other window treatments , garage door 16 openers , and security gate and other access devices ; and ( ii ) those additional items checked below. If 17* additional details are necessary , specify below. If left blank , the item below is not included : ❑x Refrigerator(s) ❑ Smoke detector(s) ❑ Pool barrier/fence ❑ Storage shed ❑ Microwave oven ❑ Security system ❑ Pool equipment ❑ TV antenna/satellite dish ❑ Washer ❑ Window/wall a/c ❑ Pool heater ❑ Water softener/purifier ❑ Dryer ❑ Generator ❑ Spa or hot tub with heater ❑ Storm shutters and ❑ Stand-alone ice maker ❑ Above ground pool panels 18 The only other items of Personal Property included in this purchase , and any additional details regarding 19* Personal Property , if necessary , are : any and all personal property presently in and on the subject property 20* and house . 21 Personal Property is included in the Purchase Price , has no contributory value , and shall be left for the Buyer. 22* (e) The following items are excluded from the purchase : 23* 24* 2 . PURCHASE PRICE ( U . S . currency) : $ 72 , 911 . 41 25* (a ) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION ) $ -0- 26 The initial deposit made payable and delivered to " Escrow Agent" named below 27* (CHECK ONE ) : ❑ accompanies offer or ❑ is to be made upon acceptance ( Effective 28* Date ) or ❑ is to be made within ( if blank, then 3 ) days after Effective Date 29 * Escrow Agent Information : Name : 30* Address : Phone : 31 * E-mail : Fax: 32* (b) Additional deposit to be delivered to Escrow Agent within (if blank, then 3 ) 33* days after Effective Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000 . . . . . . . . . . . . $ -0- . . . . . . . . . . . . . . 34 (All deposits paid or agreed to be paid , are collectively referred to as the " Deposit" ) 35* (c) Financing : Express as a dollar amount or percentage (" Loan Amount" ) see Paragraph 8 . . . $ -�- 36* (d ) Other: * some * $ -�- 37 (e) Balance to close ( not including Buyer' s closing costs , prepaids and prorations) by wire 72 , 911 .41 38* transfer or other COLLECTED funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . memo $ 39 NOTE : For the definition of " COLLECTION " or " COLLECTED " see STANDARD S . 4o 3 . TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS ; EFFECTIVE DATE : 41 * (a ) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 42* this offer shall be deemed withdrawn and the Deposit, if any , will be returned to Buyer. 43 Unless otherwise stated , time for acceptance of any counter-offers shall be within 2 days after the day the 44 counter-offer is delivered . 45 ( b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 46 initialed this offer or final counter-offer (" Effective Date " ) . 47 4. CLOSING DATE : Unless modified by other provisions of this Contract , the closing of this transaction shall occur 48 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49* (" Closing " ) on (" Closing Date" ) , at the time established by the Closing Agent Buyer' s Initials � Page 1 of 10 Seller' s Initials Florid aRealtors/Florida Bar-ASIS- 1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serial#: 020778.5001374405473 1 0f ] 1 ) S I I Ix 1 1 i 8 ~>� utJ a0i3 " AS IS " Residential Contract For Sale And Purchase , , FloridaRealtors THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR The Voice for Real Estatelin Florida 1 * PARTIES : Bamaric of VB , LLC (" Seller") , 2* and Indian River County (" Buyer" ) , 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively " Property" ) pursuant to the terms and conditions of this AS IS Residential Contract For Sale 5 And Purchase and any riders and addenda (" Contract" ) : 6 1 . PROPERTY DESCRIPTION : 7* (a) Street address , city , zip : 5020 26th St. Vero Beach , FL 32966 6* ( b ) Property is located in : Indian River County, Florida. Real Property Tax ID No: 32393300001015000002 . 0 9* (c) Legal description of the Real Property : Indian River Farms Co . Sub . PBS 2- 12 W 134 . 3 feet of S . 270 feet of W 10 10* Acres of Tr 15 , as recorded in OR Book 387 pg 143 and also less por for add r/w on 26th St. per PBI 14- 18 11 together with all existing improvements and fixtures , including built-in appliances , built-in furnishings and 12 attached wall-to-wall carpeting and flooring (" Real Property " ) unless specifically excluded below. 13 (d ) Personal Property : The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are included in the purchase (" Personal Property " ) : ( i ) range (s)/oven (s) , dishwasher(s) , 15 disposal , ceiling fan (s) , intercom , light fixtures , rods , draperies and other window treatments , garage door 16 openers , and security gate and other access devices ; and ( ii ) those additional items checked below. If 17* additional details are necessary , specify below. If left blank , the item below is not included : ❑x Refrigerator(s) ❑ Smoke detector(s) ❑ Pool barrier/fence ❑ Storage shed ❑ Microwave oven ❑ Security system ❑ Pool equipment ❑ TV antenna/satellite dish ❑ Washer ❑ Window/wall a/c ❑ Pool heater ❑ Water softener/purifier ❑ Dryer ❑ Generator ❑ Spa or hot tub with heater ❑ Storm shutters and ❑ Stand-alone ice maker ❑ Above ground pool panels 18 The only other items of Personal Property included in this purchase , and any additional details regarding 19* Personal Property , if necessary , are : any and all personal property presently in and on the subject property 20* and house . 21 Personal Property is included in the Purchase Price , has no contributory value , and shall be left for the Buyer. 22* (e) The following items are excluded from the purchase : 23* 24* 2 . PURCHASE PRICE ( U . S . currency) : $ 72 , 911 . 41 25* (a ) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION ) $ -0- 26 The initial deposit made payable and delivered to " Escrow Agent" named below 27* (CHECK ONE ) : ❑ accompanies offer or ❑ is to be made upon acceptance ( Effective 28* Date ) or ❑ is to be made within ( if blank, then 3 ) days after Effective Date 29 * Escrow Agent Information : Name : 30* Address : Phone : 31 * E-mail : Fax: 32* (b) Additional deposit to be delivered to Escrow Agent within (if blank, then 3 ) 33* days after Effective Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000 . . . . . . . . . . . . $ -0- . . . . . . . . . . . . . . 34 (All deposits paid or agreed to be paid , are collectively referred to as the " Deposit" ) 35* (c) Financing : Express as a dollar amount or percentage (" Loan Amount" ) see Paragraph 8 . . . $ -�- 36* (d ) Other: * some * $ -�- 37 (e) Balance to close ( not including Buyer' s closing costs , prepaids and prorations) by wire 72 , 911 .41 38* transfer or other COLLECTED funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . memo $ 39 NOTE : For the definition of " COLLECTION " or " COLLECTED " see STANDARD S . 4o 3 . TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS ; EFFECTIVE DATE : 41 * (a ) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 42* this offer shall be deemed withdrawn and the Deposit, if any , will be returned to Buyer. 43 Unless otherwise stated , time for acceptance of any counter-offers shall be within 2 days after the day the 44 counter-offer is delivered . 45 ( b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 46 initialed this offer or final counter-offer (" Effective Date " ) . 47 4. CLOSING DATE : Unless modified by other provisions of this Contract , the closing of this transaction shall occur 48 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49* (" Closing " ) on (" Closing Date" ) , at the time established by the Closing Agent Buyer' s Initials � Page 1 of 10 Seller' s Initials Florid aRealtors/Florida Bar-ASIS- 1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serial#: 020778.5001374405473 1 0f ] 1 ) S I I Ix 1 1 i 8 ~>� utJ a0i3 " AS IS " Residential Contract For Sale And Purchase , , FloridaRealtors THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR The Voice for Real Estatelin Florida 1 * PARTIES : Bamaric of VB , LLC (" Seller") , 2* and Indian River County (" Buyer" ) , 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively " Property" ) pursuant to the terms and conditions of this AS IS Residential Contract For Sale 5 And Purchase and any riders and addenda (" Contract" ) : 6 1 . PROPERTY DESCRIPTION : 7* (a) Street address , city , zip : 5020 26th St. Vero Beach , FL 32966 6* ( b ) Property is located in : Indian River County, Florida. Real Property Tax ID No: 32393300001015000002 . 0 9* (c) Legal description of the Real Property : Indian River Farms Co . Sub . PBS 2- 12 W 134 . 3 feet of S . 270 feet of W 10 10* Acres of Tr 15 , as recorded in OR Book 387 pg 143 and also less por for add r/w on 26th St. per PBI 14- 18 11 together with all existing improvements and fixtures , including built-in appliances , built-in furnishings and 12 attached wall-to-wall carpeting and flooring (" Real Property " ) unless specifically excluded below. 13 (d ) Personal Property : The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are included in the purchase (" Personal Property " ) : ( i ) range (s)/oven (s) , dishwasher(s) , 15 disposal , ceiling fan (s) , intercom , light fixtures , rods , draperies and other window treatments , garage door 16 openers , and security gate and other access devices ; and ( ii ) those additional items checked below. If 17* additional details are necessary , specify below. If left blank , the item below is not included : ❑x Refrigerator(s) ❑ Smoke detector(s) ❑ Pool barrier/fence ❑ Storage shed ❑ Microwave oven ❑ Security system ❑ Pool equipment ❑ TV antenna/satellite dish ❑ Washer ❑ Window/wall a/c ❑ Pool heater ❑ Water softener/purifier ❑ Dryer ❑ Generator ❑ Spa or hot tub with heater ❑ Storm shutters and ❑ Stand-alone ice maker ❑ Above ground pool panels 18 The only other items of Personal Property included in this purchase , and any additional details regarding 19* Personal Property , if necessary , are : any and all personal property presently in and on the subject property 20* and house . 21 Personal Property is included in the Purchase Price , has no contributory value , and shall be left for the Buyer. 22* (e) The following items are excluded from the purchase : 23* 24* 2 . PURCHASE PRICE ( U . S . currency) : $ 72 , 911 . 41 25* (a ) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION ) $ -0- 26 The initial deposit made payable and delivered to " Escrow Agent" named below 27* (CHECK ONE ) : ❑ accompanies offer or ❑ is to be made upon acceptance ( Effective 28* Date ) or ❑ is to be made within ( if blank, then 3 ) days after Effective Date 29 * Escrow Agent Information : Name : 30* Address : Phone : 31 * E-mail : Fax: 32* (b) Additional deposit to be delivered to Escrow Agent within (if blank, then 3 ) 33* days after Effective Date . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0000 . . . . . . . . . . . . $ -0- . . . . . . . . . . . . . . 34 (All deposits paid or agreed to be paid , are collectively referred to as the " Deposit" ) 35* (c) Financing : Express as a dollar amount or percentage (" Loan Amount" ) see Paragraph 8 . . . $ -�- 36* (d ) Other: * some * $ -�- 37 (e) Balance to close ( not including Buyer' s closing costs , prepaids and prorations) by wire 72 , 911 .41 38* transfer or other COLLECTED funds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . memo $ 39 NOTE : For the definition of " COLLECTION " or " COLLECTED " see STANDARD S . 4o 3 . TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS ; EFFECTIVE DATE : 41 * (a ) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 42* this offer shall be deemed withdrawn and the Deposit, if any , will be returned to Buyer. 43 Unless otherwise stated , time for acceptance of any counter-offers shall be within 2 days after the day the 44 counter-offer is delivered . 45 ( b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 46 initialed this offer or final counter-offer (" Effective Date " ) . 47 4. CLOSING DATE : Unless modified by other provisions of this Contract , the closing of this transaction shall occur 48 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49* (" Closing " ) on (" Closing Date" ) , at the time established by the Closing Agent Buyer' s Initials � Page 1 of 10 Seller' s Initials Florid aRealtors/Florida Bar-ASIS- 1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serial#: 020778.5001374405473 1 0f ] 1 ) S I I Ix 1 1 i 50 5. EXTENSION OF CLOSING DATE : 51 (a ) If Closing funds from Buyer' s lender( s) are not available at time of Closing due to Truth In Lending Act (TILA) 52 notice requirements , Closing shall be extended for such period necessary to satisfy TILA notice requirements , 53 not to exceed 7 days . 54 ( b) If extreme weather or other condition or event constituting " Force Majeure " ( see STANDARD G ) causes : 55 ( i ) disruption of utilities or other services essential for Closing , or ( ii ) Hazard , Wind , Flood or Homeowners' 56 insurance , to become unavailable prior to Closing , Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing , and availability of applicable Hazard , Wind , 58 Flood or Homeowners' insurance . If restoration of such utilities or services and availability of insurance has not 59 ' occurred within ( if left blank , 14) days after Closing Date , then either party may terminate this 60 Contract by delivering written notice to the other party , and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract. 62 6 . OCCUPANCY AND POSSESSION : Unless otherwise stated herein , Seller shall at Closing , have removed all 63 personal items and trash from the Property and shall deliver occupancy and possession , along with all keys , 64 garage door openers , access devices and codes , as applicable , to Buyer. If Property is intended to be rented or 65 occupied beyond Closing , the fact and terms thereof and the tenant(s ) or occupants shall be disclosed pursuant 66 to STANDARD D . If occupancy is to be delivered before Closing , Buyer assumes all risks of loss to Property from 67 date of occupancy , shall be responsible and liable for maintenance from that date , and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy . 69* 7 . ASSIGNABILITY : ( CHECK ONE ) Buyer ❑ may assign and thereby be released from any further liability 70* under this Contract; Q may assign but not be released from liability under this Contract; or ❑ may not assign 71 this Contract. 72 FINANCING 73 8 . FINANCING . 74• ❑x (a) Buyer will pay cash or may obtain a loan for the purchase of the Property . There is no financing 75 contingency to Buyer' s obligation to close . 76= ❑ ( b) m A 77 • ❑ VA loan on the following terms within ( if blank, then 30) days after Effective Date loan 78* Commitment Date " ) for: ( CHECK ONE ) : ❑ fixed , ❑ adjustable , ❑ fixed or adjustable a loan in 79• the principal amount of $ or % of the Purchase Price , at an initi interest rate so• not to exceed % ( if blank, then prevailing rate based upon Buyer' s creditwo ess) , and for a 81 ' term of years (" Financing " ) . 82• Buyer will make mortgage loan application for the Financing within blank , then 5 ) days after 83 Effective Date and use good faith and diligent effort to obtain a written loa commitment for the Financing 84 (" Loan Commitment" ) and close this Contract. Buyer shall keep Sell and Broker fully informed about 85 the status of mortgage loan application and Loan Commitment an authorizes Buyer' s mortgage broker 86 and Buyer' s lender to disclose such status and progress to Sell and Broker. 87 If Buyer does not receive Loan Commitment, then Buyer ay terminate this Contract by delivering written 88 notice to Seller, and the Deposit shall be refunded t uyer, thereby releasing Buyer and Seller from all as further obligations under this Contract. so If Buyer does not deliver written notice to S r of receipt of Loan Commitment or Buyer' s written waiver of 91 this financing contingency , then after an Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer an a Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations der this Contract. 94 If Buyer delivers written otice of receipt of Loan Commitment to Seller and this Contract does not 95 thereafter close , the D osit shall be paid to Seller unless failure to close is due to : ( 1 ) Seller' s default; 96 (2 ) Property related nditions of the Loan Commitment have not been met (except when such conditions s7 are waived by o r provisions of this Contract) ; (3 ) appraisal of the Property obtained by Buyer' s lender is 98 insufficient t eet terms of the Loan Commitment; or (4 ) the loan is not funded due to financial failure of ss Buyer' s I er, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer an a ler 100 from urther obligations under this Contract. 101 • ❑ (c) A mption of existing mortgage (see rider for terms ) . 102= ❑ (d ) ; r a Buyer's Initials _( Page 2 of 10 Seller' s Initials O Florid aRea ltors/Flo rid a Ba r-AS I SA Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . 2 Serial#: 020778-500137-6405473 3, I i S i I � . l t 50 5. EXTENSION OF CLOSING DATE : 51 (a ) If Closing funds from Buyer' s lender( s) are not available at time of Closing due to Truth In Lending Act (TILA) 52 notice requirements , Closing shall be extended for such period necessary to satisfy TILA notice requirements , 53 not to exceed 7 days . 54 ( b) If extreme weather or other condition or event constituting " Force Majeure " ( see STANDARD G ) causes : 55 ( i ) disruption of utilities or other services essential for Closing , or ( ii ) Hazard , Wind , Flood or Homeowners' 56 insurance , to become unavailable prior to Closing , Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing , and availability of applicable Hazard , Wind , 58 Flood or Homeowners' insurance . If restoration of such utilities or services and availability of insurance has not 59 ' occurred within ( if left blank , 14) days after Closing Date , then either party may terminate this 60 Contract by delivering written notice to the other party , and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract. 62 6 . OCCUPANCY AND POSSESSION : Unless otherwise stated herein , Seller shall at Closing , have removed all 63 personal items and trash from the Property and shall deliver occupancy and possession , along with all keys , 64 garage door openers , access devices and codes , as applicable , to Buyer. If Property is intended to be rented or 65 occupied beyond Closing , the fact and terms thereof and the tenant(s ) or occupants shall be disclosed pursuant 66 to STANDARD D . If occupancy is to be delivered before Closing , Buyer assumes all risks of loss to Property from 67 date of occupancy , shall be responsible and liable for maintenance from that date , and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy . 69* 7 . ASSIGNABILITY : ( CHECK ONE ) Buyer ❑ may assign and thereby be released from any further liability 70* under this Contract; Q may assign but not be released from liability under this Contract; or ❑ may not assign 71 this Contract. 72 FINANCING 73 8 . FINANCING . 74• ❑x (a) Buyer will pay cash or may obtain a loan for the purchase of the Property . There is no financing 75 contingency to Buyer' s obligation to close . 76= ❑ ( b) m A 77 • ❑ VA loan on the following terms within ( if blank, then 30) days after Effective Date loan 78* Commitment Date " ) for: ( CHECK ONE ) : ❑ fixed , ❑ adjustable , ❑ fixed or adjustable a loan in 79• the principal amount of $ or % of the Purchase Price , at an initi interest rate so• not to exceed % ( if blank, then prevailing rate based upon Buyer' s creditwo ess) , and for a 81 ' term of years (" Financing " ) . 82• Buyer will make mortgage loan application for the Financing within blank , then 5 ) days after 83 Effective Date and use good faith and diligent effort to obtain a written loa commitment for the Financing 84 (" Loan Commitment" ) and close this Contract. Buyer shall keep Sell and Broker fully informed about 85 the status of mortgage loan application and Loan Commitment an authorizes Buyer' s mortgage broker 86 and Buyer' s lender to disclose such status and progress to Sell and Broker. 87 If Buyer does not receive Loan Commitment, then Buyer ay terminate this Contract by delivering written 88 notice to Seller, and the Deposit shall be refunded t uyer, thereby releasing Buyer and Seller from all as further obligations under this Contract. so If Buyer does not deliver written notice to S r of receipt of Loan Commitment or Buyer' s written waiver of 91 this financing contingency , then after an Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer an a Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations der this Contract. 94 If Buyer delivers written otice of receipt of Loan Commitment to Seller and this Contract does not 95 thereafter close , the D osit shall be paid to Seller unless failure to close is due to : ( 1 ) Seller' s default; 96 (2 ) Property related nditions of the Loan Commitment have not been met (except when such conditions s7 are waived by o r provisions of this Contract) ; (3 ) appraisal of the Property obtained by Buyer' s lender is 98 insufficient t eet terms of the Loan Commitment; or (4 ) the loan is not funded due to financial failure of ss Buyer' s I er, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer an a ler 100 from urther obligations under this Contract. 101 • ❑ (c) A mption of existing mortgage (see rider for terms ) . 102= ❑ (d ) ; r a Buyer's Initials _( Page 2 of 10 Seller' s Initials O Florid aRea ltors/Flo rid a Ba r-AS I SA Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . 2 Serial#: 020778-500137-6405473 3, I i S i I � . l t 50 5. EXTENSION OF CLOSING DATE : 51 (a ) If Closing funds from Buyer' s lender( s) are not available at time of Closing due to Truth In Lending Act (TILA) 52 notice requirements , Closing shall be extended for such period necessary to satisfy TILA notice requirements , 53 not to exceed 7 days . 54 ( b) If extreme weather or other condition or event constituting " Force Majeure " ( see STANDARD G ) causes : 55 ( i ) disruption of utilities or other services essential for Closing , or ( ii ) Hazard , Wind , Flood or Homeowners' 56 insurance , to become unavailable prior to Closing , Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing , and availability of applicable Hazard , Wind , 58 Flood or Homeowners' insurance . If restoration of such utilities or services and availability of insurance has not 59 ' occurred within ( if left blank , 14) days after Closing Date , then either party may terminate this 60 Contract by delivering written notice to the other party , and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract. 62 6 . OCCUPANCY AND POSSESSION : Unless otherwise stated herein , Seller shall at Closing , have removed all 63 personal items and trash from the Property and shall deliver occupancy and possession , along with all keys , 64 garage door openers , access devices and codes , as applicable , to Buyer. If Property is intended to be rented or 65 occupied beyond Closing , the fact and terms thereof and the tenant(s ) or occupants shall be disclosed pursuant 66 to STANDARD D . If occupancy is to be delivered before Closing , Buyer assumes all risks of loss to Property from 67 date of occupancy , shall be responsible and liable for maintenance from that date , and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy . 69* 7 . ASSIGNABILITY : ( CHECK ONE ) Buyer ❑ may assign and thereby be released from any further liability 70* under this Contract; Q may assign but not be released from liability under this Contract; or ❑ may not assign 71 this Contract. 72 FINANCING 73 8 . FINANCING . 74• ❑x (a) Buyer will pay cash or may obtain a loan for the purchase of the Property . There is no financing 75 contingency to Buyer' s obligation to close . 76= ❑ ( b) m A 77 • ❑ VA loan on the following terms within ( if blank, then 30) days after Effective Date loan 78* Commitment Date " ) for: ( CHECK ONE ) : ❑ fixed , ❑ adjustable , ❑ fixed or adjustable a loan in 79• the principal amount of $ or % of the Purchase Price , at an initi interest rate so• not to exceed % ( if blank, then prevailing rate based upon Buyer' s creditwo ess) , and for a 81 ' term of years (" Financing " ) . 82• Buyer will make mortgage loan application for the Financing within blank , then 5 ) days after 83 Effective Date and use good faith and diligent effort to obtain a written loa commitment for the Financing 84 (" Loan Commitment" ) and close this Contract. Buyer shall keep Sell and Broker fully informed about 85 the status of mortgage loan application and Loan Commitment an authorizes Buyer' s mortgage broker 86 and Buyer' s lender to disclose such status and progress to Sell and Broker. 87 If Buyer does not receive Loan Commitment, then Buyer ay terminate this Contract by delivering written 88 notice to Seller, and the Deposit shall be refunded t uyer, thereby releasing Buyer and Seller from all as further obligations under this Contract. so If Buyer does not deliver written notice to S r of receipt of Loan Commitment or Buyer' s written waiver of 91 this financing contingency , then after an Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer an a Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations der this Contract. 94 If Buyer delivers written otice of receipt of Loan Commitment to Seller and this Contract does not 95 thereafter close , the D osit shall be paid to Seller unless failure to close is due to : ( 1 ) Seller' s default; 96 (2 ) Property related nditions of the Loan Commitment have not been met (except when such conditions s7 are waived by o r provisions of this Contract) ; (3 ) appraisal of the Property obtained by Buyer' s lender is 98 insufficient t eet terms of the Loan Commitment; or (4 ) the loan is not funded due to financial failure of ss Buyer' s I er, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer an a ler 100 from urther obligations under this Contract. 101 • ❑ (c) A mption of existing mortgage (see rider for terms ) . 102= ❑ (d ) ; r a Buyer's Initials _( Page 2 of 10 Seller' s Initials O Florid aRea ltors/Flo rid a Ba r-AS I SA Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . 2 Serial#: 020778-500137-6405473 3, I i S i I � . l t 103 CLOSING COSTS , FEES AND CHARGES 104 9 . CLOSING COSTS ; TITLE INSURANCE ; SURVEY ; HOME WARRANTY ; SPECIAL ASSESSMENTS : 105• (a ) COSTS TO BE PAID BY SELLER : • Documentary stamp taxes and surtax on deed , if any • HOA/Condominium Association estoppel fees • Owner' s Policy and Charges ( if Paragraph 9 (c) ( i ) is checked ) • Recording and other fees needed to cure title • Title search charges ( if Paragraph 9 ( c) ( iii ) is checked ) • Seller' s attorneys' fees • Other: Buyer to pay all closing costs associated with transfer of title . 106 If, prior to Closing , Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125 % of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 108 Closing . If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs . Any unused portion of escrowed amount shall be returned to Seller. 110• ( b) COSTS TO BE PAID BY BUYER : • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner' s Policy and Charges ( if Paragraph 9 (c) ( ii ) is checked ) • Buyer' s Inspections • Survey (and elevation certification , if required ) • Buyer' s attorneys' fees • Lender' s title policy and endorsements • All property related insurance • HOA/Condominium Association application/transfer fees • Other: Buyer to pay all costs associted with transfer of title . 111 ' (c) TITLE EVIDENCE AND INSURANCE : At least ( if blank, then 5 ) days prior to Closing Date , a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ("Title Commitment" ) and , after Closing , an owner' s policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner' s policy of title 115 insurance covering the Real Property , a copy shall be furnished to Buyer and Closing Agent within 5 days after 116 Effective Date . The owner' s title policy premium and charges for owner' s policy endorsements , title search , 117 and closing services ( collectively , " Owner' s Policy and Charges " ) shall be paid , as set forth below 118 (CHECK ONE ) : 119' will chages 120 f 121 122• ( ii ) Buyer will designate Closing Agent and pay for Owner' s Policy and Charges and charges for closing 123 services related to Buyer' s lender' s policy , endorsements , and loan closing ; or 124' 125 of title insurance or other evidence of title and pay fees for: (A) a continuation or update a evidence , 126 which is acceptable to Buyer' s title insurance underwriter for reis erage ; ( B ) tax search ; and 127 (C ) municipal lien search . Buyer shall obtain and a - osing continuation and premium for Buyer' s 128 owner' s policy , and if applicable Ier' s policy. Seller shall not be obligated to pay more than 129. $ NA . 00 ) for abstract continuation or title search ordered or performed by Closing 130 it 131 � ) SURVEY: At least 5 days prior to Closing , Buyer may , at Buyer' s expense , have the Real Property surveyed 132 and certified by a registered Florida surveyor (" Survey" ) . If Seller has a survey covering the Real Property , a 133 copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date . 13a• (e by 135* not applicable at a cost not t . A home 136 arrantr y plan provides for repair or o a home' s mechanical systems and major built-in 137 fl 138 ( � / public 139 (" public ' does not include a Condominium or Homeowner' s Association ) that are certified , c ed and 140 ratified before and ( ii ) the amount of the public body ' s most recent estimate sessment for an 141 improvement which is su Ily complete as of Effective Date , but thath . resulted in a lien being 142 imposed on the Property before C o ' uyer will pay all other asse s . If special assessments may 143 be paid in installments ( CHECK ONE ) : 144• ❑ (a ) Seller shall pay installments due prior to and Buyer shall pay installments due after 145 Closing . Installments prepaid or d r the year o shall be prorated . 146• El ( b) Seller shall pay the asses s ) in full prior to or at the ti losing . 147 IF NEITHER BOX IS CHE , HEN OPTION (a ) SHALL BE DEEMED SEL 148 This Paragraph 9 not apply to a special benefit tax lien imposed by a community a ment district 149 (CDD) pu to Chapter 190 F . S . which lien shall be treated as an ad valorem tax and prorated p t to 150 ARD K. Buyer' s Initials Page 3 of 10 Seller' s Initial FloridaRealtors/Flori ar-ASIS- 1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serial#: 020776-500137-6405473 . 103 CLOSING COSTS , FEES AND CHARGES 104 9 . CLOSING COSTS ; TITLE INSURANCE ; SURVEY ; HOME WARRANTY ; SPECIAL ASSESSMENTS : 105• (a ) COSTS TO BE PAID BY SELLER : • Documentary stamp taxes and surtax on deed , if any • HOA/Condominium Association estoppel fees • Owner' s Policy and Charges ( if Paragraph 9 (c) ( i ) is checked ) • Recording and other fees needed to cure title • Title search charges ( if Paragraph 9 ( c) ( iii ) is checked ) • Seller' s attorneys' fees • Other: Buyer to pay all closing costs associated with transfer of title . 106 If, prior to Closing , Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125 % of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 108 Closing . If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs . Any unused portion of escrowed amount shall be returned to Seller. 110• ( b) COSTS TO BE PAID BY BUYER : • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner' s Policy and Charges ( if Paragraph 9 (c) ( ii ) is checked ) • Buyer' s Inspections • Survey (and elevation certification , if required ) • Buyer' s attorneys' fees • Lender' s title policy and endorsements • All property related insurance • HOA/Condominium Association application/transfer fees • Other: Buyer to pay all costs associted with transfer of title . 111 ' (c) TITLE EVIDENCE AND INSURANCE : At least ( if blank, then 5 ) days prior to Closing Date , a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ("Title Commitment" ) and , after Closing , an owner' s policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner' s policy of title 115 insurance covering the Real Property , a copy shall be furnished to Buyer and Closing Agent within 5 days after 116 Effective Date . The owner' s title policy premium and charges for owner' s policy endorsements , title search , 117 and closing services ( collectively , " Owner' s Policy and Charges " ) shall be paid , as set forth below 118 (CHECK ONE ) : 119' will chages 120 f 121 122• ( ii ) Buyer will designate Closing Agent and pay for Owner' s Policy and Charges and charges for closing 123 services related to Buyer' s lender' s policy , endorsements , and loan closing ; or 124' 125 of title insurance or other evidence of title and pay fees for: (A) a continuation or update a evidence , 126 which is acceptable to Buyer' s title insurance underwriter for reis erage ; ( B ) tax search ; and 127 (C ) municipal lien search . Buyer shall obtain and a - osing continuation and premium for Buyer' s 128 owner' s policy , and if applicable Ier' s policy. Seller shall not be obligated to pay more than 129. $ NA . 00 ) for abstract continuation or title search ordered or performed by Closing 130 it 131 � ) SURVEY: At least 5 days prior to Closing , Buyer may , at Buyer' s expense , have the Real Property surveyed 132 and certified by a registered Florida surveyor (" Survey" ) . If Seller has a survey covering the Real Property , a 133 copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date . 13a• (e by 135* not applicable at a cost not t . A home 136 arrantr y plan provides for repair or o a home' s mechanical systems and major built-in 137 fl 138 ( � / public 139 (" public ' does not include a Condominium or Homeowner' s Association ) that are certified , c ed and 140 ratified before and ( ii ) the amount of the public body ' s most recent estimate sessment for an 141 improvement which is su Ily complete as of Effective Date , but thath . resulted in a lien being 142 imposed on the Property before C o ' uyer will pay all other asse s . If special assessments may 143 be paid in installments ( CHECK ONE ) : 144• ❑ (a ) Seller shall pay installments due prior to and Buyer shall pay installments due after 145 Closing . Installments prepaid or d r the year o shall be prorated . 146• El ( b) Seller shall pay the asses s ) in full prior to or at the ti losing . 147 IF NEITHER BOX IS CHE , HEN OPTION (a ) SHALL BE DEEMED SEL 148 This Paragraph 9 not apply to a special benefit tax lien imposed by a community a ment district 149 (CDD) pu to Chapter 190 F . S . which lien shall be treated as an ad valorem tax and prorated p t to 150 ARD K. Buyer' s Initials Page 3 of 10 Seller' s Initial FloridaRealtors/Flori ar-ASIS- 1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serial#: 020776-500137-6405473 . 103 CLOSING COSTS , FEES AND CHARGES 104 9 . CLOSING COSTS ; TITLE INSURANCE ; SURVEY ; HOME WARRANTY ; SPECIAL ASSESSMENTS : 105• (a ) COSTS TO BE PAID BY SELLER : • Documentary stamp taxes and surtax on deed , if any • HOA/Condominium Association estoppel fees • Owner' s Policy and Charges ( if Paragraph 9 (c) ( i ) is checked ) • Recording and other fees needed to cure title • Title search charges ( if Paragraph 9 ( c) ( iii ) is checked ) • Seller' s attorneys' fees • Other: Buyer to pay all closing costs associated with transfer of title . 106 If, prior to Closing , Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125 % of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 108 Closing . If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs . Any unused portion of escrowed amount shall be returned to Seller. 110• ( b) COSTS TO BE PAID BY BUYER : • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner' s Policy and Charges ( if Paragraph 9 (c) ( ii ) is checked ) • Buyer' s Inspections • Survey (and elevation certification , if required ) • Buyer' s attorneys' fees • Lender' s title policy and endorsements • All property related insurance • HOA/Condominium Association application/transfer fees • Other: Buyer to pay all costs associted with transfer of title . 111 ' (c) TITLE EVIDENCE AND INSURANCE : At least ( if blank, then 5 ) days prior to Closing Date , a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ("Title Commitment" ) and , after Closing , an owner' s policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner' s policy of title 115 insurance covering the Real Property , a copy shall be furnished to Buyer and Closing Agent within 5 days after 116 Effective Date . The owner' s title policy premium and charges for owner' s policy endorsements , title search , 117 and closing services ( collectively , " Owner' s Policy and Charges " ) shall be paid , as set forth below 118 (CHECK ONE ) : 119' will chages 120 f 121 122• ( ii ) Buyer will designate Closing Agent and pay for Owner' s Policy and Charges and charges for closing 123 services related to Buyer' s lender' s policy , endorsements , and loan closing ; or 124' 125 of title insurance or other evidence of title and pay fees for: (A) a continuation or update a evidence , 126 which is acceptable to Buyer' s title insurance underwriter for reis erage ; ( B ) tax search ; and 127 (C ) municipal lien search . Buyer shall obtain and a - osing continuation and premium for Buyer' s 128 owner' s policy , and if applicable Ier' s policy. Seller shall not be obligated to pay more than 129. $ NA . 00 ) for abstract continuation or title search ordered or performed by Closing 130 it 131 � ) SURVEY: At least 5 days prior to Closing , Buyer may , at Buyer' s expense , have the Real Property surveyed 132 and certified by a registered Florida surveyor (" Survey" ) . If Seller has a survey covering the Real Property , a 133 copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date . 13a• (e by 135* not applicable at a cost not t . A home 136 arrantr y plan provides for repair or o a home' s mechanical systems and major built-in 137 fl 138 ( � / public 139 (" public ' does not include a Condominium or Homeowner' s Association ) that are certified , c ed and 140 ratified before and ( ii ) the amount of the public body ' s most recent estimate sessment for an 141 improvement which is su Ily complete as of Effective Date , but thath . resulted in a lien being 142 imposed on the Property before C o ' uyer will pay all other asse s . If special assessments may 143 be paid in installments ( CHECK ONE ) : 144• ❑ (a ) Seller shall pay installments due prior to and Buyer shall pay installments due after 145 Closing . Installments prepaid or d r the year o shall be prorated . 146• El ( b) Seller shall pay the asses s ) in full prior to or at the ti losing . 147 IF NEITHER BOX IS CHE , HEN OPTION (a ) SHALL BE DEEMED SEL 148 This Paragraph 9 not apply to a special benefit tax lien imposed by a community a ment district 149 (CDD) pu to Chapter 190 F . S . which lien shall be treated as an ad valorem tax and prorated p t to 150 ARD K. Buyer' s Initials Page 3 of 10 Seller' s Initial FloridaRealtors/Flori ar-ASIS- 1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serial#: 020776-500137-6405473 . 151 DISCLOSURES 152 10 . DISCLOSURES . 153 (a) RADON GAS : Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 sufficient quantities , may present health risks to persons who are exposed to it over time . Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida . Additional information regarding 156 radon and radon testing may be obtained from your county health department. 157 ( b) PERMITS DISCLOSURE : Except as may have been disclosed by Seller to Buyer in a written disclosure , 158 Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed . 160 (c) MOLD : Mold is naturally occurring and may cause health risks or damage to property . If Buyer is concerned or 161 desires additional information regarding mold , Buyer should contact an appropriate professional . 162 (d ) FLOOD ZONE , ELEVATION CERTIFICATION : Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in , whether flood insurance is required by Buyer' s lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty . If Property is in a " Special Flood Hazard Area" 165 or " Coastal High Hazard Area " and finished floor elevation is below minimum flood elevation , Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days after Effective Date , failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property . 168 (e) ENERGY BROCHURE : Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 169 required by Section 553 . 996 , F . S . 170 (f) LEAD -BASED PAINT : If Property includes pre- 1978 residential housing , a lead - based paint rider is 171 mandatory . 172 (g ) HOMEOWNERS ' ASSOCIATION /COMMUNITY DISCLOSURE . BUYER SHOULD NOT EXECUTE THIS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS ' 174 ASSOCIATION/COMMUNITY DISCLOSURE , IF APPLICABLE . 175 ( h ) PROPERTY TAX DISCLOSURE SUMMARY : BUYER SHOULD NOT RELY ON THE SELLER ' S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE . A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES , IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION , CONTACT THE 180 COUNTY PROPERTY APPRAISER' S OFFICE FOR INFORMATION . 181 ( i ) TAX WITHHOLDING : If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act (" FIRPTA" ) , Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at Closing . 184 (j ) SELLER DISCLOSURE : Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in the preceding sentence 186 or otherwise disclosed in writing : ( 1 ) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building , environmental or safety code violation ; and (2 ) Seller 188 extends and intends no warranty and makes no representation of any type , either express or implied , as to the 189 physical condition or history of the Property . 190 PROPERTY MAINTENANCE , CONDITION , INSPECTIONS AND EXAMINATIONS 191 11 . PROPERTY MAINTENANCE : Except for ordinary wear and tear and Casualty Loss , Seller shall maintain the 192 Property , including , but not limited to , lawn , shrubbery , and pool , in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement" ) . 194 12 . PROPERTY INSPECTION ; RIGHT TO CANCEL : 195' (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL : Buyer shall have NA (if blank, 15) days from 196 Effective Date ("Inspection Period") within which to have such inspections of the Property performed 197 as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract, however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such inspections, and shall provide Seller with paid receipts for all work done on the 204 Property (the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmental, and safety codes, restrictions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender. r Buyer' s Initials Page 4 of 10 Seller's Initials FloridaRealtors/Florida ar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . 6 {{ gg Senal#: 020778-500137-6405473 151 DISCLOSURES 152 10 . DISCLOSURES . 153 (a) RADON GAS : Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 sufficient quantities , may present health risks to persons who are exposed to it over time . Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida . Additional information regarding 156 radon and radon testing may be obtained from your county health department. 157 ( b) PERMITS DISCLOSURE : Except as may have been disclosed by Seller to Buyer in a written disclosure , 158 Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed . 160 (c) MOLD : Mold is naturally occurring and may cause health risks or damage to property . If Buyer is concerned or 161 desires additional information regarding mold , Buyer should contact an appropriate professional . 162 (d ) FLOOD ZONE , ELEVATION CERTIFICATION : Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in , whether flood insurance is required by Buyer' s lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty . If Property is in a " Special Flood Hazard Area" 165 or " Coastal High Hazard Area " and finished floor elevation is below minimum flood elevation , Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days after Effective Date , failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property . 168 (e) ENERGY BROCHURE : Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 169 required by Section 553 . 996 , F . S . 170 (f) LEAD -BASED PAINT : If Property includes pre- 1978 residential housing , a lead - based paint rider is 171 mandatory . 172 (g ) HOMEOWNERS ' ASSOCIATION /COMMUNITY DISCLOSURE . BUYER SHOULD NOT EXECUTE THIS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS ' 174 ASSOCIATION/COMMUNITY DISCLOSURE , IF APPLICABLE . 175 ( h ) PROPERTY TAX DISCLOSURE SUMMARY : BUYER SHOULD NOT RELY ON THE SELLER ' S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE . A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES , IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION , CONTACT THE 180 COUNTY PROPERTY APPRAISER' S OFFICE FOR INFORMATION . 181 ( i ) TAX WITHHOLDING : If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act (" FIRPTA" ) , Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at Closing . 184 (j ) SELLER DISCLOSURE : Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in the preceding sentence 186 or otherwise disclosed in writing : ( 1 ) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building , environmental or safety code violation ; and (2 ) Seller 188 extends and intends no warranty and makes no representation of any type , either express or implied , as to the 189 physical condition or history of the Property . 190 PROPERTY MAINTENANCE , CONDITION , INSPECTIONS AND EXAMINATIONS 191 11 . PROPERTY MAINTENANCE : Except for ordinary wear and tear and Casualty Loss , Seller shall maintain the 192 Property , including , but not limited to , lawn , shrubbery , and pool , in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement" ) . 194 12 . PROPERTY INSPECTION ; RIGHT TO CANCEL : 195' (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL : Buyer shall have NA (if blank, 15) days from 196 Effective Date ("Inspection Period") within which to have such inspections of the Property performed 197 as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract, however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such inspections, and shall provide Seller with paid receipts for all work done on the 204 Property (the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmental, and safety codes, restrictions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender. r Buyer' s Initials Page 4 of 10 Seller's Initials FloridaRealtors/Florida ar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . 6 {{ gg Senal#: 020778-500137-6405473 151 DISCLOSURES 152 10 . DISCLOSURES . 153 (a) RADON GAS : Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 sufficient quantities , may present health risks to persons who are exposed to it over time . Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida . Additional information regarding 156 radon and radon testing may be obtained from your county health department. 157 ( b) PERMITS DISCLOSURE : Except as may have been disclosed by Seller to Buyer in a written disclosure , 158 Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed . 160 (c) MOLD : Mold is naturally occurring and may cause health risks or damage to property . If Buyer is concerned or 161 desires additional information regarding mold , Buyer should contact an appropriate professional . 162 (d ) FLOOD ZONE , ELEVATION CERTIFICATION : Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in , whether flood insurance is required by Buyer' s lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty . If Property is in a " Special Flood Hazard Area" 165 or " Coastal High Hazard Area " and finished floor elevation is below minimum flood elevation , Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days after Effective Date , failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property . 168 (e) ENERGY BROCHURE : Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 169 required by Section 553 . 996 , F . S . 170 (f) LEAD -BASED PAINT : If Property includes pre- 1978 residential housing , a lead - based paint rider is 171 mandatory . 172 (g ) HOMEOWNERS ' ASSOCIATION /COMMUNITY DISCLOSURE . BUYER SHOULD NOT EXECUTE THIS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS ' 174 ASSOCIATION/COMMUNITY DISCLOSURE , IF APPLICABLE . 175 ( h ) PROPERTY TAX DISCLOSURE SUMMARY : BUYER SHOULD NOT RELY ON THE SELLER ' S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE . A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES , IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION , CONTACT THE 180 COUNTY PROPERTY APPRAISER' S OFFICE FOR INFORMATION . 181 ( i ) TAX WITHHOLDING : If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act (" FIRPTA" ) , Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at Closing . 184 (j ) SELLER DISCLOSURE : Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in the preceding sentence 186 or otherwise disclosed in writing : ( 1 ) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building , environmental or safety code violation ; and (2 ) Seller 188 extends and intends no warranty and makes no representation of any type , either express or implied , as to the 189 physical condition or history of the Property . 190 PROPERTY MAINTENANCE , CONDITION , INSPECTIONS AND EXAMINATIONS 191 11 . PROPERTY MAINTENANCE : Except for ordinary wear and tear and Casualty Loss , Seller shall maintain the 192 Property , including , but not limited to , lawn , shrubbery , and pool , in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement" ) . 194 12 . PROPERTY INSPECTION ; RIGHT TO CANCEL : 195' (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL : Buyer shall have NA (if blank, 15) days from 196 Effective Date ("Inspection Period") within which to have such inspections of the Property performed 197 as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract, however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such inspections, and shall provide Seller with paid receipts for all work done on the 204 Property (the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmental, and safety codes, restrictions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender. r Buyer' s Initials Page 4 of 10 Seller's Initials FloridaRealtors/Florida ar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . 6 {{ gg Senal#: 020778-500137-6405473 209 ( b) WALK-THROUGH INSPECTION/RE-INSPECTION : On the day prior to Closing Date , or on Closing Date prior 210 to time of Closing , as specified by Buyer, Buyer or Buyer' s representative may perform a walk-through (and 211 follow-up walk-through , if necessary ) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations . 214 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS : If Buyer' s 215 inspection of the Property identifies open or needed building permits , then Seller shall promptly deliver to 216 Buyer all plans , written documentation or other information in Seller' s possession , knowledge , or control 217 relating to improvements to the Property which are the subject of such open or needed Permits , and shall 218 promptly cooperate in good faith with Buyer' s efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues . Seller' s obligation to cooperate shall include Seller' s execution of necessary 220 authorizations , consents , or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared , but in fulfilling such obligation , Seller shall not be required to expend , or 222 become obligated to expend , any money . 223 (d ) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES : At Buyer' s option and 224 cost, Seller will , at Closing , assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer. 226 ESCROW AGENT AND BROKER ] 227 13 . ES OW AGENT : Any Closing Agent or Escrow Agent (collectively "Agent" ) receiving the Deposit, ;cditions u s 228 and o r items is authorized , and agrees by acceptance of them , to deposit them promptly , hold samrow 229 within th State of Florida and , subject to COLLECTION , disburse them in accordance with terms an 230 of this Con ct. Failure of funds to become COLLECTED shall not excuse Buyer' s performance . Whecting 231 demands for a Deposit are received , or Agent has a good faith doubt as to entitlement to the posit , Agent 232 may take such a ions permitted by this Paragraph 13 , as Agent deems advisable . If in doubt as Agent' s duties 233 or liabilities under s Contract, Agent may , at Agent' s option , continue to hold the subject er of the escrow 234 until the parties agr to its disbursement or until a final judgment of a court of comp ent jurisdiction shall 235 determine the rights of th parties , or Agent may deposit same with the clerk of the circui ourt having jurisdiction 236 of the dispute . An attorne ho represents a party and also acts as Agent may re esent such party in such 237 action . Upon notifying all part concerned of such action , all liability on the part f Agent shall fully terminate , 238 except to the extent of account for any items previously delivered out of crow . If a licensed real estate 239 broker, Agent will comply with pro ions of Chapter 475 , F . S . , as amende and FREC rules to timely resolve 240 escrow disputes through media t n , arbitration , interpleader o an escrow disbursement order . 241 Any proceeding between Buyer and Sell wherein Agent is made a pa because of acting as Agent hereunder, 242 or in any proceeding where Agent interple s the subject matter of a escrow, Agent shall recover reasonable 243 attorney ' s fees and costs incurred , to be pai ursuant to court er out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person fo is-delivery any escrowed items , unless such mis-delivery is 245 due to Agent' s willful breach of this Contract or Age ' s gross egligence . This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE ; BROKER LIABILITY : Br o advises Buyer and Seller to verify Property condition , 248 square footage , and all other facts and representatio ma ursuant to this Contract and to consult appropriate 249 professionals for legal , tax , environmental , and of r specializ advice concerning matters affecting the Property 250 and the transaction contemplated by this Contr t. Broker rep es is to Buyer that Broker does not reside on the 251 Property and that all representations (oral , ten or otherwise) by ker are based on Seller representations or 252 public records . BUYER AGREES TO ELY SOLELY ON SELL PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR RIFICATION OF PROPERTY NDITION , SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFF PROPERTY VALUE AND NOT O HE REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE ) O BROKER. Buyer and Seller ( individuall the " Indemnifying Party" ) each 256 individually indemnifies , hold armless , and releases Broker and Broker' s icers , directors , agents and 257 employees from all liability r loss or damage , including all costs and expenses , an reasonable attorney' s fees 258 at all levels , suffered ori urred by Broker and Broker' s officers , directors , agents an mployees in connection 259 with or arising from cl ' s , demands or causes of action instituted by Buyer or Seller ba d on : ( i ) inaccuracy of 260 information provide y the Indemnifying Party or from public records ; ( ii ) Indemnifying Party misstatement( s) or 261 failure to perfor contractual obligations ; ( iii ) Broker' s performance , at Indemnifying Party' s re est , of any task 262 beyond the ope of services regulated by Chapter 475 , F . S . , as amended , including B er' s referral , 263 recommen tion or retention of any vendor for, or on behalf of, Indemnifying Party ; ( iv) product or services 264 provide y any such vendor for, or on behalf of, Indemnifying Party ; and (v) expenses incurred by ny such 265 vend . Buyer and Seller each assumes full responsibility for selecting and compensating their respective ndors 266 an aying their other costs under this Contract whether or not this transaction closes . This Paragraph 14 wl of 267 ieve Broker of statutory obligations under Chapter 475 , F . S . , as amended . For purposes of this Paragraph C (I Buyer's Initials Page 5 of 10 Seller' s Initial7 r Florida Realtors/Flo rid aBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . serial#: 020778-500137-6405473 1 I t 11 t t 1 l ' I t 209 ( b) WALK-THROUGH INSPECTION/RE-INSPECTION : On the day prior to Closing Date , or on Closing Date prior 210 to time of Closing , as specified by Buyer, Buyer or Buyer' s representative may perform a walk-through (and 211 follow-up walk-through , if necessary ) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations . 214 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS : If Buyer' s 215 inspection of the Property identifies open or needed building permits , then Seller shall promptly deliver to 216 Buyer all plans , written documentation or other information in Seller' s possession , knowledge , or control 217 relating to improvements to the Property which are the subject of such open or needed Permits , and shall 218 promptly cooperate in good faith with Buyer' s efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues . Seller' s obligation to cooperate shall include Seller' s execution of necessary 220 authorizations , consents , or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared , but in fulfilling such obligation , Seller shall not be required to expend , or 222 become obligated to expend , any money . 223 (d ) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES : At Buyer' s option and 224 cost, Seller will , at Closing , assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer. 226 ESCROW AGENT AND BROKER ] 227 13 . ES OW AGENT : Any Closing Agent or Escrow Agent (collectively "Agent" ) receiving the Deposit, ;cditions u s 228 and o r items is authorized , and agrees by acceptance of them , to deposit them promptly , hold samrow 229 within th State of Florida and , subject to COLLECTION , disburse them in accordance with terms an 230 of this Con ct. Failure of funds to become COLLECTED shall not excuse Buyer' s performance . Whecting 231 demands for a Deposit are received , or Agent has a good faith doubt as to entitlement to the posit , Agent 232 may take such a ions permitted by this Paragraph 13 , as Agent deems advisable . If in doubt as Agent' s duties 233 or liabilities under s Contract, Agent may , at Agent' s option , continue to hold the subject er of the escrow 234 until the parties agr to its disbursement or until a final judgment of a court of comp ent jurisdiction shall 235 determine the rights of th parties , or Agent may deposit same with the clerk of the circui ourt having jurisdiction 236 of the dispute . An attorne ho represents a party and also acts as Agent may re esent such party in such 237 action . Upon notifying all part concerned of such action , all liability on the part f Agent shall fully terminate , 238 except to the extent of account for any items previously delivered out of crow . If a licensed real estate 239 broker, Agent will comply with pro ions of Chapter 475 , F . S . , as amende and FREC rules to timely resolve 240 escrow disputes through media t n , arbitration , interpleader o an escrow disbursement order . 241 Any proceeding between Buyer and Sell wherein Agent is made a pa because of acting as Agent hereunder, 242 or in any proceeding where Agent interple s the subject matter of a escrow, Agent shall recover reasonable 243 attorney ' s fees and costs incurred , to be pai ursuant to court er out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person fo is-delivery any escrowed items , unless such mis-delivery is 245 due to Agent' s willful breach of this Contract or Age ' s gross egligence . This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE ; BROKER LIABILITY : Br o advises Buyer and Seller to verify Property condition , 248 square footage , and all other facts and representatio ma ursuant to this Contract and to consult appropriate 249 professionals for legal , tax , environmental , and of r specializ advice concerning matters affecting the Property 250 and the transaction contemplated by this Contr t. Broker rep es is to Buyer that Broker does not reside on the 251 Property and that all representations (oral , ten or otherwise) by ker are based on Seller representations or 252 public records . BUYER AGREES TO ELY SOLELY ON SELL PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR RIFICATION OF PROPERTY NDITION , SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFF PROPERTY VALUE AND NOT O HE REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE ) O BROKER. Buyer and Seller ( individuall the " Indemnifying Party" ) each 256 individually indemnifies , hold armless , and releases Broker and Broker' s icers , directors , agents and 257 employees from all liability r loss or damage , including all costs and expenses , an reasonable attorney' s fees 258 at all levels , suffered ori urred by Broker and Broker' s officers , directors , agents an mployees in connection 259 with or arising from cl ' s , demands or causes of action instituted by Buyer or Seller ba d on : ( i ) inaccuracy of 260 information provide y the Indemnifying Party or from public records ; ( ii ) Indemnifying Party misstatement( s) or 261 failure to perfor contractual obligations ; ( iii ) Broker' s performance , at Indemnifying Party' s re est , of any task 262 beyond the ope of services regulated by Chapter 475 , F . S . , as amended , including B er' s referral , 263 recommen tion or retention of any vendor for, or on behalf of, Indemnifying Party ; ( iv) product or services 264 provide y any such vendor for, or on behalf of, Indemnifying Party ; and (v) expenses incurred by ny such 265 vend . Buyer and Seller each assumes full responsibility for selecting and compensating their respective ndors 266 an aying their other costs under this Contract whether or not this transaction closes . This Paragraph 14 wl of 267 ieve Broker of statutory obligations under Chapter 475 , F . S . , as amended . For purposes of this Paragraph C (I Buyer's Initials Page 5 of 10 Seller' s Initial7 r Florida Realtors/Flo rid aBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . serial#: 020778-500137-6405473 1 I t 11 t t 1 l ' I t 209 ( b) WALK-THROUGH INSPECTION/RE-INSPECTION : On the day prior to Closing Date , or on Closing Date prior 210 to time of Closing , as specified by Buyer, Buyer or Buyer' s representative may perform a walk-through (and 211 follow-up walk-through , if necessary ) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations . 214 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS : If Buyer' s 215 inspection of the Property identifies open or needed building permits , then Seller shall promptly deliver to 216 Buyer all plans , written documentation or other information in Seller' s possession , knowledge , or control 217 relating to improvements to the Property which are the subject of such open or needed Permits , and shall 218 promptly cooperate in good faith with Buyer' s efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues . Seller' s obligation to cooperate shall include Seller' s execution of necessary 220 authorizations , consents , or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared , but in fulfilling such obligation , Seller shall not be required to expend , or 222 become obligated to expend , any money . 223 (d ) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES : At Buyer' s option and 224 cost, Seller will , at Closing , assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer. 226 ESCROW AGENT AND BROKER ] 227 13 . ES OW AGENT : Any Closing Agent or Escrow Agent (collectively "Agent" ) receiving the Deposit, ;cditions u s 228 and o r items is authorized , and agrees by acceptance of them , to deposit them promptly , hold samrow 229 within th State of Florida and , subject to COLLECTION , disburse them in accordance with terms an 230 of this Con ct. Failure of funds to become COLLECTED shall not excuse Buyer' s performance . Whecting 231 demands for a Deposit are received , or Agent has a good faith doubt as to entitlement to the posit , Agent 232 may take such a ions permitted by this Paragraph 13 , as Agent deems advisable . If in doubt as Agent' s duties 233 or liabilities under s Contract, Agent may , at Agent' s option , continue to hold the subject er of the escrow 234 until the parties agr to its disbursement or until a final judgment of a court of comp ent jurisdiction shall 235 determine the rights of th parties , or Agent may deposit same with the clerk of the circui ourt having jurisdiction 236 of the dispute . An attorne ho represents a party and also acts as Agent may re esent such party in such 237 action . Upon notifying all part concerned of such action , all liability on the part f Agent shall fully terminate , 238 except to the extent of account for any items previously delivered out of crow . If a licensed real estate 239 broker, Agent will comply with pro ions of Chapter 475 , F . S . , as amende and FREC rules to timely resolve 240 escrow disputes through media t n , arbitration , interpleader o an escrow disbursement order . 241 Any proceeding between Buyer and Sell wherein Agent is made a pa because of acting as Agent hereunder, 242 or in any proceeding where Agent interple s the subject matter of a escrow, Agent shall recover reasonable 243 attorney ' s fees and costs incurred , to be pai ursuant to court er out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person fo is-delivery any escrowed items , unless such mis-delivery is 245 due to Agent' s willful breach of this Contract or Age ' s gross egligence . This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE ; BROKER LIABILITY : Br o advises Buyer and Seller to verify Property condition , 248 square footage , and all other facts and representatio ma ursuant to this Contract and to consult appropriate 249 professionals for legal , tax , environmental , and of r specializ advice concerning matters affecting the Property 250 and the transaction contemplated by this Contr t. Broker rep es is to Buyer that Broker does not reside on the 251 Property and that all representations (oral , ten or otherwise) by ker are based on Seller representations or 252 public records . BUYER AGREES TO ELY SOLELY ON SELL PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR RIFICATION OF PROPERTY NDITION , SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFF PROPERTY VALUE AND NOT O HE REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE ) O BROKER. Buyer and Seller ( individuall the " Indemnifying Party" ) each 256 individually indemnifies , hold armless , and releases Broker and Broker' s icers , directors , agents and 257 employees from all liability r loss or damage , including all costs and expenses , an reasonable attorney' s fees 258 at all levels , suffered ori urred by Broker and Broker' s officers , directors , agents an mployees in connection 259 with or arising from cl ' s , demands or causes of action instituted by Buyer or Seller ba d on : ( i ) inaccuracy of 260 information provide y the Indemnifying Party or from public records ; ( ii ) Indemnifying Party misstatement( s) or 261 failure to perfor contractual obligations ; ( iii ) Broker' s performance , at Indemnifying Party' s re est , of any task 262 beyond the ope of services regulated by Chapter 475 , F . S . , as amended , including B er' s referral , 263 recommen tion or retention of any vendor for, or on behalf of, Indemnifying Party ; ( iv) product or services 264 provide y any such vendor for, or on behalf of, Indemnifying Party ; and (v) expenses incurred by ny such 265 vend . Buyer and Seller each assumes full responsibility for selecting and compensating their respective ndors 266 an aying their other costs under this Contract whether or not this transaction closes . This Paragraph 14 wl of 267 ieve Broker of statutory obligations under Chapter 475 , F . S . , as amended . For purposes of this Paragraph C (I Buyer's Initials Page 5 of 10 Seller' s Initial7 r Florida Realtors/Flo rid aBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . serial#: 020778-500137-6405473 1 I t 11 t t 1 l ' I t 268 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 15 . DEFAULT. 272 (a ) BUYER DEFAULT , If Buyer fails , neglects or refuses to perform Buyer' s obligations under this Contract, 273 including payment of the Deposit, within the time (s) specified , Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages , consideration for execution of this 275 Contract, and in full settlement of any claims , whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller' s option , may , pursuant to Paragraph 16 , proceed in equity 277 to enforce Seller's rights under this Contract. The portion of the Deposit , if any , paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker; provided however, 279 Cooperating Broker' s share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 ( b) SELLER DEFAULT : If for any reason other than failure of Seller to make Seller' s title marketable after 282 reasonable diligent effort, Seller fails , neglects or refuses to perform Seller' s obligations under this Contract, 283 Buyer may elect to receive return of Buyer' s Deposit without thereby waiving any action for damages resulting 284 from Seller' s breach , and , pursuant to Paragraph 16 , may seek to recover such damages or seek specific 285 performance . This Paragraph 15 shall survive Closing or termination of this Contract. 286 16 . DISPUTE RESOLUTION : Unresolved controversies , claims and other matters in question between Buyer and 287 Seller arising out of, or relating to , this Contract or its breach , enforcement or interpretation (" Dispute" ) will be 288 settled as follows : 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute , failing which , Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16 ( b) . 292 ( b ) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court-Appointed Mediators and Chapter 44 , F . S . , as amended (the " Mediation Rules" ) . 294 The mediator must be certified or must have experience in the real estate industry . Injunctive relief may be 295 sought without first complying with this Paragraph 16 ( b) . Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 16 297 shall survive Closing or termination of this Contract. 298 17 . ATTORNEY'S FEES ; COSTS : The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs , expenses and fees , including attorney ' s fees , incurred in 300 conducting the mediation . In any litigation permitted by this Contract, the prevailing party shall be entitled to 301 recover from the non -prevailing party costs and fees , including reasonable attorney ' s fees , incurred in conducting 302 the litigation . This Paragraph 17 shall survive Closing or termination of this Contract. 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ( "STANDARDS " ) 304 18 . STANDARDS : 305 A . TITLE : 306 ( i ) TITLE EVIDENCE ; RESTRICTIONS ; EASEMENTS ; LIMITATIONS : Within the time period provided in 307 Paragraph 9 (c) , the Title Commitment, with legible copies of instruments listed as exceptions attached thereto , shall 308 be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner' s policy of title insurance in the 310 amount of the Purchase Price , shall be issued to Buyer insuring Buyer' s marketable title to the Real Property , 311 subject only to the following matters : (a ) comprehensive land use plans , zoning , and other land use restrictions , 312 prohibitions and requirements imposed by governmental authority ; ( b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision ; (c) outstanding oil , gas and mineral rights of record without right of entry ; 314 (d ) unplatted public utility easements of record ( located contiguous to real property lines and not more than 10 feet in 315 width as to rear or front lines and 7 1 /2 feet in width as to side lines) ; (e) taxes for year of Closing and subsequent 316 years ; and (f) assumed mortgages and purchase money mortgages , if any ( if additional items , attach addendum) ; 317 provided , that none prevent use of the Property for RESIDENTIAL PURPOSES . If there exists at Closing any 318 violation of items identified in ( b ) - (f) above , then the same shall be deemed a title defect. Marketable title shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with 320 law. 321 ( ii ) TITLE EXAMINATION : Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s ) , if any , that render title unmarketable . If Seller provides Title Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date , Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (" Cure Period " ) 325 after receipt of Buyer' s notice to take reasonable diligent efforts to remove defects . If Buyer fails to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is . If Seller cures defects within Cure Period , S Iter will Buyer's Initials Page 6 of 10 Seller' s Initi Florida Rea ltors/FloridaBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serialk 020778-500137-6405473 268 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 15 . DEFAULT. 272 (a ) BUYER DEFAULT , If Buyer fails , neglects or refuses to perform Buyer' s obligations under this Contract, 273 including payment of the Deposit, within the time (s) specified , Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages , consideration for execution of this 275 Contract, and in full settlement of any claims , whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller' s option , may , pursuant to Paragraph 16 , proceed in equity 277 to enforce Seller's rights under this Contract. The portion of the Deposit , if any , paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker; provided however, 279 Cooperating Broker' s share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 ( b) SELLER DEFAULT : If for any reason other than failure of Seller to make Seller' s title marketable after 282 reasonable diligent effort, Seller fails , neglects or refuses to perform Seller' s obligations under this Contract, 283 Buyer may elect to receive return of Buyer' s Deposit without thereby waiving any action for damages resulting 284 from Seller' s breach , and , pursuant to Paragraph 16 , may seek to recover such damages or seek specific 285 performance . This Paragraph 15 shall survive Closing or termination of this Contract. 286 16 . DISPUTE RESOLUTION : Unresolved controversies , claims and other matters in question between Buyer and 287 Seller arising out of, or relating to , this Contract or its breach , enforcement or interpretation (" Dispute" ) will be 288 settled as follows : 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute , failing which , Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16 ( b) . 292 ( b ) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court-Appointed Mediators and Chapter 44 , F . S . , as amended (the " Mediation Rules" ) . 294 The mediator must be certified or must have experience in the real estate industry . Injunctive relief may be 295 sought without first complying with this Paragraph 16 ( b) . Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 16 297 shall survive Closing or termination of this Contract. 298 17 . ATTORNEY'S FEES ; COSTS : The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs , expenses and fees , including attorney ' s fees , incurred in 300 conducting the mediation . In any litigation permitted by this Contract, the prevailing party shall be entitled to 301 recover from the non -prevailing party costs and fees , including reasonable attorney ' s fees , incurred in conducting 302 the litigation . This Paragraph 17 shall survive Closing or termination of this Contract. 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ( "STANDARDS " ) 304 18 . STANDARDS : 305 A . TITLE : 306 ( i ) TITLE EVIDENCE ; RESTRICTIONS ; EASEMENTS ; LIMITATIONS : Within the time period provided in 307 Paragraph 9 (c) , the Title Commitment, with legible copies of instruments listed as exceptions attached thereto , shall 308 be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner' s policy of title insurance in the 310 amount of the Purchase Price , shall be issued to Buyer insuring Buyer' s marketable title to the Real Property , 311 subject only to the following matters : (a ) comprehensive land use plans , zoning , and other land use restrictions , 312 prohibitions and requirements imposed by governmental authority ; ( b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision ; (c) outstanding oil , gas and mineral rights of record without right of entry ; 314 (d ) unplatted public utility easements of record ( located contiguous to real property lines and not more than 10 feet in 315 width as to rear or front lines and 7 1 /2 feet in width as to side lines) ; (e) taxes for year of Closing and subsequent 316 years ; and (f) assumed mortgages and purchase money mortgages , if any ( if additional items , attach addendum) ; 317 provided , that none prevent use of the Property for RESIDENTIAL PURPOSES . If there exists at Closing any 318 violation of items identified in ( b ) - (f) above , then the same shall be deemed a title defect. Marketable title shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with 320 law. 321 ( ii ) TITLE EXAMINATION : Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s ) , if any , that render title unmarketable . If Seller provides Title Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date , Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (" Cure Period " ) 325 after receipt of Buyer' s notice to take reasonable diligent efforts to remove defects . If Buyer fails to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is . If Seller cures defects within Cure Period , S Iter will Buyer's Initials Page 6 of 10 Seller' s Initi Florida Rea ltors/FloridaBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serialk 020778-500137-6405473 268 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 15 . DEFAULT. 272 (a ) BUYER DEFAULT , If Buyer fails , neglects or refuses to perform Buyer' s obligations under this Contract, 273 including payment of the Deposit, within the time (s) specified , Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages , consideration for execution of this 275 Contract, and in full settlement of any claims , whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller' s option , may , pursuant to Paragraph 16 , proceed in equity 277 to enforce Seller's rights under this Contract. The portion of the Deposit , if any , paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker; provided however, 279 Cooperating Broker' s share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 ( b) SELLER DEFAULT : If for any reason other than failure of Seller to make Seller' s title marketable after 282 reasonable diligent effort, Seller fails , neglects or refuses to perform Seller' s obligations under this Contract, 283 Buyer may elect to receive return of Buyer' s Deposit without thereby waiving any action for damages resulting 284 from Seller' s breach , and , pursuant to Paragraph 16 , may seek to recover such damages or seek specific 285 performance . This Paragraph 15 shall survive Closing or termination of this Contract. 286 16 . DISPUTE RESOLUTION : Unresolved controversies , claims and other matters in question between Buyer and 287 Seller arising out of, or relating to , this Contract or its breach , enforcement or interpretation (" Dispute" ) will be 288 settled as follows : 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute , failing which , Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16 ( b) . 292 ( b ) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court-Appointed Mediators and Chapter 44 , F . S . , as amended (the " Mediation Rules" ) . 294 The mediator must be certified or must have experience in the real estate industry . Injunctive relief may be 295 sought without first complying with this Paragraph 16 ( b) . Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 16 297 shall survive Closing or termination of this Contract. 298 17 . ATTORNEY'S FEES ; COSTS : The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs , expenses and fees , including attorney ' s fees , incurred in 300 conducting the mediation . In any litigation permitted by this Contract, the prevailing party shall be entitled to 301 recover from the non -prevailing party costs and fees , including reasonable attorney ' s fees , incurred in conducting 302 the litigation . This Paragraph 17 shall survive Closing or termination of this Contract. 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ( "STANDARDS " ) 304 18 . STANDARDS : 305 A . TITLE : 306 ( i ) TITLE EVIDENCE ; RESTRICTIONS ; EASEMENTS ; LIMITATIONS : Within the time period provided in 307 Paragraph 9 (c) , the Title Commitment, with legible copies of instruments listed as exceptions attached thereto , shall 308 be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner' s policy of title insurance in the 310 amount of the Purchase Price , shall be issued to Buyer insuring Buyer' s marketable title to the Real Property , 311 subject only to the following matters : (a ) comprehensive land use plans , zoning , and other land use restrictions , 312 prohibitions and requirements imposed by governmental authority ; ( b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision ; (c) outstanding oil , gas and mineral rights of record without right of entry ; 314 (d ) unplatted public utility easements of record ( located contiguous to real property lines and not more than 10 feet in 315 width as to rear or front lines and 7 1 /2 feet in width as to side lines) ; (e) taxes for year of Closing and subsequent 316 years ; and (f) assumed mortgages and purchase money mortgages , if any ( if additional items , attach addendum) ; 317 provided , that none prevent use of the Property for RESIDENTIAL PURPOSES . If there exists at Closing any 318 violation of items identified in ( b ) - (f) above , then the same shall be deemed a title defect. Marketable title shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance with 320 law. 321 ( ii ) TITLE EXAMINATION : Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s ) , if any , that render title unmarketable . If Seller provides Title Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date , Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days (" Cure Period " ) 325 after receipt of Buyer' s notice to take reasonable diligent efforts to remove defects . If Buyer fails to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is . If Seller cures defects within Cure Period , S Iter will Buyer's Initials Page 6 of 10 Seller' s Initi Florida Rea ltors/FloridaBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . Serialk 020778-500137-6405473 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer' s attorney ) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed , within 10 days after Buyer' s receipt of Seller' s 33o notice ) . If Seller is unable to cure defects within Cure Period , then Buyer may , within 5 days after expiration of 331 Cure Period , deliver written notice to Seller: (a ) extending Cure Period for a specified period not to exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects (" Extended Cure 333 Period " ) ; or ( b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed , within the earlier of 10 days after end of Extended Cure Period or Buyer' s receipt of Seller' s notice) , or 335 (c) electing to terminate this Contract and receive a refund of the Deposit , thereby releasing Buyer and Seller from 336 all further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects , 337 and Buyer does not waive the defects , this Contract shall terminate , and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B . SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 34o encroach on setback lines , easements , or lands of others ; or violate any restrictions , covenants , or applicable 341 governmental regulations described in STANDARD A ( i ) (a ) , ( b) or (d ) above , Buyer shall deliver written notice of such 342 matters , together with a copy of Survey , to Seller within 5 days after Buyer' s receipt of Survey , but no later than 343 Closing . If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect , subject to cure obligations of STANDARD A above . If Seller has delivered a prior 345 survey , Seller shall , at Buyer' s request, execute an affidavit of " no change" to the Real Property since the 346 preparation of such prior survey , to the extent the affirmations therein are true and correct. 347 C . INGRESS AND EGRESS : Seller represents that there is ingress and egress to the Real Property and title t`' 348 the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access . , Sas SES : Seller shall , within 5 days after Inspection Period , furnish to Buyer copies of all written leases 350 estoppel le each tenant specifying nature and duration of tenant' s occupancy , rental rates nced rent 351 and security deposits pal ant, and income and expense statements for r 2 months (" Lease 352 Information " ) . If Seller is unable to obtal el letters from tenant(s a information shall be furnished by 353 Seller to Buyer within that time period in the form o vlt , and Buyer may thereafter contact tenant( s ) 354 to confirm such information . If terms of the leas r materia y Her' s representations , Buyer may deliver 355 written notice to Seller within 5 da receipt of Lease Information , but no n 5 days prior to Closing 356 Date , terminating this and receive a refund of the Deposit, thereby releasing Buy eller from all /I n 357 further ob I I under this Contract. Seller shall , at Closing , deliver and assign all original leases to u Who 35 assume Seller' s obligation thereunder. C- 359 359 S : Seller shall furnish to Buyer at Closing an affidavit attesting ; ( i ) to the absence of any in 360 statement, c al otential lienors known to Seller, and ( ii ) that there have been no im s or repairs 361 to the Real Property for 90 day 1 preceding Closing Date . If the e has been improved or 362 repaired within that time , Seller shall deliver re a onstruction liens executed by all general 363 contractors , subcontractors , suppliers and mated a dition o ' I n affidavit setting forth names of all 364 such general contractors , subco suppliers and materialmen , further a all charges for 365 improvements or re c could serve as a basis for a construction lien or a claim for damages hav 366 or wi ' at Closing . 367 TIME : Calendar days shall be used in computing time periods . Any time periods provided for in this Contract 368 which shall end on a Saturday , Sunday , or a national legal holiday (see 5 U . S . C . 6103) shall extend to 5 : 00 p . m . 369 (where the Property is located ) of the next business day . Time is of the essence in this Contract. 37o G . FORCE MAJEURE : Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non -performance of the obligation is delayed , caused or 372 prevented by Force Majeure . " Force Majeure" means : hurricanes , earthquakes , floods , fire , acts of God , unusual 373 transportation delays , wars , insurrections , acts of terrorism , and any other cause not reasonably within control of 374 Buyer or Seller, and which , by exercise of reasonable diligent effort, the non-performing party is unable in whole or in 375 part to prevent or overcome . All time periods , including Closing Date , will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided , however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date , then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract. 38o H . CONVEYANCE . Seller shall convey marketable title to the Real Property by statutory warranty , trustee ' s , 381 personal representative ' s , or guardian ' s deed , as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall , at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title , subject only to such matters as may be provided for in this Contract. 384 I . CLOSING LOCATION ; DOCUMENTS ; AND PROCEDURE : 385 ( i ) LOCATION : Closing will take place in the county where the Real Property is located at the office of the 386 attorney or er closing agent ( " Closing Agent" ) designated by the party paying for the owner' s poli y of titl Buyer' s Initials Page 7 of 10 Seller' s Initialsowin FloridaRealtors/Flori agar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . ${ qq Serial#: 020778-500137-6405473 ! . � � I l I ` I i 1, 1 14 1 & N 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer' s attorney ) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed , within 10 days after Buyer' s receipt of Seller' s 33o notice ) . If Seller is unable to cure defects within Cure Period , then Buyer may , within 5 days after expiration of 331 Cure Period , deliver written notice to Seller: (a ) extending Cure Period for a specified period not to exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects (" Extended Cure 333 Period " ) ; or ( b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed , within the earlier of 10 days after end of Extended Cure Period or Buyer' s receipt of Seller' s notice) , or 335 (c) electing to terminate this Contract and receive a refund of the Deposit , thereby releasing Buyer and Seller from 336 all further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects , 337 and Buyer does not waive the defects , this Contract shall terminate , and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B . SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 34o encroach on setback lines , easements , or lands of others ; or violate any restrictions , covenants , or applicable 341 governmental regulations described in STANDARD A ( i ) (a ) , ( b) or (d ) above , Buyer shall deliver written notice of such 342 matters , together with a copy of Survey , to Seller within 5 days after Buyer' s receipt of Survey , but no later than 343 Closing . If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect , subject to cure obligations of STANDARD A above . If Seller has delivered a prior 345 survey , Seller shall , at Buyer' s request, execute an affidavit of " no change" to the Real Property since the 346 preparation of such prior survey , to the extent the affirmations therein are true and correct. 347 C . INGRESS AND EGRESS : Seller represents that there is ingress and egress to the Real Property and title t`' 348 the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access . , Sas SES : Seller shall , within 5 days after Inspection Period , furnish to Buyer copies of all written leases 350 estoppel le each tenant specifying nature and duration of tenant' s occupancy , rental rates nced rent 351 and security deposits pal ant, and income and expense statements for r 2 months (" Lease 352 Information " ) . If Seller is unable to obtal el letters from tenant(s a information shall be furnished by 353 Seller to Buyer within that time period in the form o vlt , and Buyer may thereafter contact tenant( s ) 354 to confirm such information . If terms of the leas r materia y Her' s representations , Buyer may deliver 355 written notice to Seller within 5 da receipt of Lease Information , but no n 5 days prior to Closing 356 Date , terminating this and receive a refund of the Deposit, thereby releasing Buy eller from all /I n 357 further ob I I under this Contract. Seller shall , at Closing , deliver and assign all original leases to u Who 35 assume Seller' s obligation thereunder. C- 359 359 S : Seller shall furnish to Buyer at Closing an affidavit attesting ; ( i ) to the absence of any in 360 statement, c al otential lienors known to Seller, and ( ii ) that there have been no im s or repairs 361 to the Real Property for 90 day 1 preceding Closing Date . If the e has been improved or 362 repaired within that time , Seller shall deliver re a onstruction liens executed by all general 363 contractors , subcontractors , suppliers and mated a dition o ' I n affidavit setting forth names of all 364 such general contractors , subco suppliers and materialmen , further a all charges for 365 improvements or re c could serve as a basis for a construction lien or a claim for damages hav 366 or wi ' at Closing . 367 TIME : Calendar days shall be used in computing time periods . Any time periods provided for in this Contract 368 which shall end on a Saturday , Sunday , or a national legal holiday (see 5 U . S . C . 6103) shall extend to 5 : 00 p . m . 369 (where the Property is located ) of the next business day . Time is of the essence in this Contract. 37o G . FORCE MAJEURE : Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non -performance of the obligation is delayed , caused or 372 prevented by Force Majeure . " Force Majeure" means : hurricanes , earthquakes , floods , fire , acts of God , unusual 373 transportation delays , wars , insurrections , acts of terrorism , and any other cause not reasonably within control of 374 Buyer or Seller, and which , by exercise of reasonable diligent effort, the non-performing party is unable in whole or in 375 part to prevent or overcome . All time periods , including Closing Date , will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided , however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date , then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract. 38o H . CONVEYANCE . Seller shall convey marketable title to the Real Property by statutory warranty , trustee ' s , 381 personal representative ' s , or guardian ' s deed , as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall , at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title , subject only to such matters as may be provided for in this Contract. 384 I . CLOSING LOCATION ; DOCUMENTS ; AND PROCEDURE : 385 ( i ) LOCATION : Closing will take place in the county where the Real Property is located at the office of the 386 attorney or er closing agent ( " Closing Agent" ) designated by the party paying for the owner' s poli y of titl Buyer' s Initials Page 7 of 10 Seller' s Initialsowin FloridaRealtors/Flori agar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . ${ qq Serial#: 020778-500137-6405473 ! . � � I l I ` I i 1, 1 14 1 & N 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer' s attorney ) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed , within 10 days after Buyer' s receipt of Seller' s 33o notice ) . If Seller is unable to cure defects within Cure Period , then Buyer may , within 5 days after expiration of 331 Cure Period , deliver written notice to Seller: (a ) extending Cure Period for a specified period not to exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects (" Extended Cure 333 Period " ) ; or ( b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed , within the earlier of 10 days after end of Extended Cure Period or Buyer' s receipt of Seller' s notice) , or 335 (c) electing to terminate this Contract and receive a refund of the Deposit , thereby releasing Buyer and Seller from 336 all further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects , 337 and Buyer does not waive the defects , this Contract shall terminate , and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B . SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 34o encroach on setback lines , easements , or lands of others ; or violate any restrictions , covenants , or applicable 341 governmental regulations described in STANDARD A ( i ) (a ) , ( b) or (d ) above , Buyer shall deliver written notice of such 342 matters , together with a copy of Survey , to Seller within 5 days after Buyer' s receipt of Survey , but no later than 343 Closing . If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect , subject to cure obligations of STANDARD A above . If Seller has delivered a prior 345 survey , Seller shall , at Buyer' s request, execute an affidavit of " no change" to the Real Property since the 346 preparation of such prior survey , to the extent the affirmations therein are true and correct. 347 C . INGRESS AND EGRESS : Seller represents that there is ingress and egress to the Real Property and title t`' 348 the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access . , Sas SES : Seller shall , within 5 days after Inspection Period , furnish to Buyer copies of all written leases 350 estoppel le each tenant specifying nature and duration of tenant' s occupancy , rental rates nced rent 351 and security deposits pal ant, and income and expense statements for r 2 months (" Lease 352 Information " ) . If Seller is unable to obtal el letters from tenant(s a information shall be furnished by 353 Seller to Buyer within that time period in the form o vlt , and Buyer may thereafter contact tenant( s ) 354 to confirm such information . If terms of the leas r materia y Her' s representations , Buyer may deliver 355 written notice to Seller within 5 da receipt of Lease Information , but no n 5 days prior to Closing 356 Date , terminating this and receive a refund of the Deposit, thereby releasing Buy eller from all /I n 357 further ob I I under this Contract. Seller shall , at Closing , deliver and assign all original leases to u Who 35 assume Seller' s obligation thereunder. C- 359 359 S : Seller shall furnish to Buyer at Closing an affidavit attesting ; ( i ) to the absence of any in 360 statement, c al otential lienors known to Seller, and ( ii ) that there have been no im s or repairs 361 to the Real Property for 90 day 1 preceding Closing Date . If the e has been improved or 362 repaired within that time , Seller shall deliver re a onstruction liens executed by all general 363 contractors , subcontractors , suppliers and mated a dition o ' I n affidavit setting forth names of all 364 such general contractors , subco suppliers and materialmen , further a all charges for 365 improvements or re c could serve as a basis for a construction lien or a claim for damages hav 366 or wi ' at Closing . 367 TIME : Calendar days shall be used in computing time periods . Any time periods provided for in this Contract 368 which shall end on a Saturday , Sunday , or a national legal holiday (see 5 U . S . C . 6103) shall extend to 5 : 00 p . m . 369 (where the Property is located ) of the next business day . Time is of the essence in this Contract. 37o G . FORCE MAJEURE : Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non -performance of the obligation is delayed , caused or 372 prevented by Force Majeure . " Force Majeure" means : hurricanes , earthquakes , floods , fire , acts of God , unusual 373 transportation delays , wars , insurrections , acts of terrorism , and any other cause not reasonably within control of 374 Buyer or Seller, and which , by exercise of reasonable diligent effort, the non-performing party is unable in whole or in 375 part to prevent or overcome . All time periods , including Closing Date , will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided , however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date , then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract. 38o H . CONVEYANCE . Seller shall convey marketable title to the Real Property by statutory warranty , trustee ' s , 381 personal representative ' s , or guardian ' s deed , as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall , at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title , subject only to such matters as may be provided for in this Contract. 384 I . CLOSING LOCATION ; DOCUMENTS ; AND PROCEDURE : 385 ( i ) LOCATION : Closing will take place in the county where the Real Property is located at the office of the 386 attorney or er closing agent ( " Closing Agent" ) designated by the party paying for the owner' s poli y of titl Buyer' s Initials Page 7 of 10 Seller' s Initialsowin FloridaRealtors/Flori agar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . ${ qq Serial#: 020778-500137-6405473 ! . � � I l I ` I i 1, 1 14 1 & N 367 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 366 insurance , or, if no title insurance , designated by Seller. Closing may be conducted by mail or electronic means . 389 ( ii ) CUMENTS : At Closing , Seller shall furnish and pay for, as applicable , deed 390 certificate of title , cons r affidavit, owner' s possession affidavit, assi ases , and corrective 391 instruments . Seller shall provide Buyer wl i is f e on the Property pursuant to this Contract. 392 Buyer shall furnish and pay for, as 9gage , te , security agreement , financing statements , 393 survey , base I (cation , and other documents required by Buyers der. 394 ROCEDURE : The deed shall be recorded upon COLLECTION of all closing funds . If the Title 395 Commitment provides insurance against adverse matters pursuant to Section 627 . 7841 , F . S . , as amended , the 396 escrow closing procedure required by STANDARD J shall be waived , and Closing Agent shall , subject to 397 COLLECTION of all closing funds , disburse at Closing the brokerage fees to Broker and the net sale proceeds to 396 Seller. 399 J . ESCROW CLOSING PROCEDURE : If Title Commitment issued pursuant to Paragraph 9 ( c) does not provide 400 for insurance against adverse matters as permitted under Section 627 . 7841 , F . S . , as amended , the following escrow 401 and closing procedures shall apply : ( 1 ) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing ; (2 ) if Seller' s title is rendered unmarketable , through no fault of Buyer, Buyer 403 shall , within the 10 day period , notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; ( 3 ) if Seller fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall , within 5 days after written demand by Buyer, be refunded to Buyer and , simultaneously with 406 such repayment , Buyer shall return the Personal Property , vacate the Real Property and re-convey the Property to 407 Seller by special warranty deed and bill of sale ; and (4 ) if Buyer fails to make timely demand for refund of the 408 Deposit , Buyer shall take title as is , waiving all rights against Seller as to any intervening defect except as may be 409 available to Buyer by virtue of warranties contained in the deed or bill of sale . 410 P RATIONS ; CREDITS : The following recurring items will be made current ( if applicable ) and prorated f 411 the a Ior to Closing Date , or date of occupancy if occupancy occurs before Closing Date : real e taxes 412 ( including spe 0 enefit tax assessments imposed by a CDD ) , interest, bonds , association f , Insurance , rents 413 and other expenses o erty . Buyer shall have option of taking over existing policies a urance , if assumable , in 414 which event premiums shall rated . Cash at Closing shall be increased o reased as may be required by 415 prorations to be made through day pri Closing . Advance rent and Ity deposits , if any , will be credited to 416 Buyer. Escrow deposits held by Seller' s mortg will be paid t er. Taxes shall be prorated based on current 417 year' s tax with due allowance made for maximum allo Iscount, homestead and other exemptions . If Closing 418 occurs on a date when current year' s millage is ed but t year' s assessment is available , taxes will be 419 prorated based upon such assessment an Ior year' s millage . If curr ear' s assessment is not available , then 420 taxes will be prorated on prior year' s . f there are completed improvements o eal Property by January 1st of 421 year of Closing , which impro ents were not in existence on January 1st of prior year, taxes shall be prorated 422 based upon prior ye I lage and at an equitable assessment to be agreed upon between the s , failing which , 423 request shall ade to the County Property Appraiser for an informal assessment taking into acco ailable 424 exem s . A tax proration based on an estimate shall , at either party' s request, be readjusted upon recel 425 ctrrrent year' s tax bill . This STANDARD K shall survive Closing . 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS , INSPECTIONS , AND WALK-THROUGH : Seller shall , 427 upon reasonable notice , provide utilities service and access to Property for appraisals and inspections , including a 428 walk-through (or follow-up walk-through if necessary) prior to Closing . 429 M . RISK OF LOSS : If, after Effective Date , but before Closing , Property is damaged by fire or other casualty 430 (" Casualty Loss" ) and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1 . 5 % of Purchase Price , cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing , a sum equal to 125 % of estimated 433 cost to complete restoration ( not to exceed 1 . 5 % of Purchase Price) , will be escrowed at Closing . If actual cost of 434 restoration exceeds escrowed amount , Seller shall pay such actual costs ( but, not in excess of 1 . 5 % of Purchase 435 Price) . Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1 . 5 % of 436 Purchase Price , Buyer shall elect to either take Property " as is" together with the 1 . 5 % , or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller' s sole obligation 438 with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal . 439 N . 1031 EX we 440 Closing or deferred ) under Section 1031 of the Internal Revenue a the other party shall cooperate 441 in all reasonable respects to effectu ge , including execution of documents ; provided , however 442 cooperatin no lability or expense related to the Exchange , and Closing shall not be contingent 443 444 O . CONTRACT NOT RECORDABLE ; PERSONS BOUND ; NOTICE ; COPIES : Neither this Contract nor any 445 notice of it shall be recorded in any public records . This Contract shall be binding on , and inure to the benefit of, the 446 parties and the respective heirs or successors in interest. Whenever the context permits , singular shall in I de ural Buyer's Initials Page 8 of 10 Seller' s Initia Florida Rea ltors/FloridaBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . ¢¢ tt Sedal#: 020778-500137-6405473 5 I 1 ''S 1n I ,} 1 1k: I a 367 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 366 insurance , or, if no title insurance , designated by Seller. Closing may be conducted by mail or electronic means . 389 ( ii ) CUMENTS : At Closing , Seller shall furnish and pay for, as applicable , deed 390 certificate of title , cons r affidavit, owner' s possession affidavit, assi ases , and corrective 391 instruments . Seller shall provide Buyer wl i is f e on the Property pursuant to this Contract. 392 Buyer shall furnish and pay for, as 9gage , te , security agreement , financing statements , 393 survey , base I (cation , and other documents required by Buyers der. 394 ROCEDURE : The deed shall be recorded upon COLLECTION of all closing funds . If the Title 395 Commitment provides insurance against adverse matters pursuant to Section 627 . 7841 , F . S . , as amended , the 396 escrow closing procedure required by STANDARD J shall be waived , and Closing Agent shall , subject to 397 COLLECTION of all closing funds , disburse at Closing the brokerage fees to Broker and the net sale proceeds to 396 Seller. 399 J . ESCROW CLOSING PROCEDURE : If Title Commitment issued pursuant to Paragraph 9 ( c) does not provide 400 for insurance against adverse matters as permitted under Section 627 . 7841 , F . S . , as amended , the following escrow 401 and closing procedures shall apply : ( 1 ) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing ; (2 ) if Seller' s title is rendered unmarketable , through no fault of Buyer, Buyer 403 shall , within the 10 day period , notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; ( 3 ) if Seller fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall , within 5 days after written demand by Buyer, be refunded to Buyer and , simultaneously with 406 such repayment , Buyer shall return the Personal Property , vacate the Real Property and re-convey the Property to 407 Seller by special warranty deed and bill of sale ; and (4 ) if Buyer fails to make timely demand for refund of the 408 Deposit , Buyer shall take title as is , waiving all rights against Seller as to any intervening defect except as may be 409 available to Buyer by virtue of warranties contained in the deed or bill of sale . 410 P RATIONS ; CREDITS : The following recurring items will be made current ( if applicable ) and prorated f 411 the a Ior to Closing Date , or date of occupancy if occupancy occurs before Closing Date : real e taxes 412 ( including spe 0 enefit tax assessments imposed by a CDD ) , interest, bonds , association f , Insurance , rents 413 and other expenses o erty . Buyer shall have option of taking over existing policies a urance , if assumable , in 414 which event premiums shall rated . Cash at Closing shall be increased o reased as may be required by 415 prorations to be made through day pri Closing . Advance rent and Ity deposits , if any , will be credited to 416 Buyer. Escrow deposits held by Seller' s mortg will be paid t er. Taxes shall be prorated based on current 417 year' s tax with due allowance made for maximum allo Iscount, homestead and other exemptions . If Closing 418 occurs on a date when current year' s millage is ed but t year' s assessment is available , taxes will be 419 prorated based upon such assessment an Ior year' s millage . If curr ear' s assessment is not available , then 420 taxes will be prorated on prior year' s . f there are completed improvements o eal Property by January 1st of 421 year of Closing , which impro ents were not in existence on January 1st of prior year, taxes shall be prorated 422 based upon prior ye I lage and at an equitable assessment to be agreed upon between the s , failing which , 423 request shall ade to the County Property Appraiser for an informal assessment taking into acco ailable 424 exem s . A tax proration based on an estimate shall , at either party' s request, be readjusted upon recel 425 ctrrrent year' s tax bill . This STANDARD K shall survive Closing . 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS , INSPECTIONS , AND WALK-THROUGH : Seller shall , 427 upon reasonable notice , provide utilities service and access to Property for appraisals and inspections , including a 428 walk-through (or follow-up walk-through if necessary) prior to Closing . 429 M . RISK OF LOSS : If, after Effective Date , but before Closing , Property is damaged by fire or other casualty 430 (" Casualty Loss" ) and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1 . 5 % of Purchase Price , cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing , a sum equal to 125 % of estimated 433 cost to complete restoration ( not to exceed 1 . 5 % of Purchase Price) , will be escrowed at Closing . If actual cost of 434 restoration exceeds escrowed amount , Seller shall pay such actual costs ( but, not in excess of 1 . 5 % of Purchase 435 Price) . Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1 . 5 % of 436 Purchase Price , Buyer shall elect to either take Property " as is" together with the 1 . 5 % , or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller' s sole obligation 438 with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal . 439 N . 1031 EX we 440 Closing or deferred ) under Section 1031 of the Internal Revenue a the other party shall cooperate 441 in all reasonable respects to effectu ge , including execution of documents ; provided , however 442 cooperatin no lability or expense related to the Exchange , and Closing shall not be contingent 443 444 O . CONTRACT NOT RECORDABLE ; PERSONS BOUND ; NOTICE ; COPIES : Neither this Contract nor any 445 notice of it shall be recorded in any public records . This Contract shall be binding on , and inure to the benefit of, the 446 parties and the respective heirs or successors in interest. Whenever the context permits , singular shall in I de ural Buyer's Initials Page 8 of 10 Seller' s Initia Florida Rea ltors/FloridaBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . ¢¢ tt Sedal#: 020778-500137-6405473 5 I 1 ''S 1n I ,} 1 1k: I a 367 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 366 insurance , or, if no title insurance , designated by Seller. Closing may be conducted by mail or electronic means . 389 ( ii ) CUMENTS : At Closing , Seller shall furnish and pay for, as applicable , deed 390 certificate of title , cons r affidavit, owner' s possession affidavit, assi ases , and corrective 391 instruments . Seller shall provide Buyer wl i is f e on the Property pursuant to this Contract. 392 Buyer shall furnish and pay for, as 9gage , te , security agreement , financing statements , 393 survey , base I (cation , and other documents required by Buyers der. 394 ROCEDURE : The deed shall be recorded upon COLLECTION of all closing funds . If the Title 395 Commitment provides insurance against adverse matters pursuant to Section 627 . 7841 , F . S . , as amended , the 396 escrow closing procedure required by STANDARD J shall be waived , and Closing Agent shall , subject to 397 COLLECTION of all closing funds , disburse at Closing the brokerage fees to Broker and the net sale proceeds to 396 Seller. 399 J . ESCROW CLOSING PROCEDURE : If Title Commitment issued pursuant to Paragraph 9 ( c) does not provide 400 for insurance against adverse matters as permitted under Section 627 . 7841 , F . S . , as amended , the following escrow 401 and closing procedures shall apply : ( 1 ) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing ; (2 ) if Seller' s title is rendered unmarketable , through no fault of Buyer, Buyer 403 shall , within the 10 day period , notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; ( 3 ) if Seller fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall , within 5 days after written demand by Buyer, be refunded to Buyer and , simultaneously with 406 such repayment , Buyer shall return the Personal Property , vacate the Real Property and re-convey the Property to 407 Seller by special warranty deed and bill of sale ; and (4 ) if Buyer fails to make timely demand for refund of the 408 Deposit , Buyer shall take title as is , waiving all rights against Seller as to any intervening defect except as may be 409 available to Buyer by virtue of warranties contained in the deed or bill of sale . 410 P RATIONS ; CREDITS : The following recurring items will be made current ( if applicable ) and prorated f 411 the a Ior to Closing Date , or date of occupancy if occupancy occurs before Closing Date : real e taxes 412 ( including spe 0 enefit tax assessments imposed by a CDD ) , interest, bonds , association f , Insurance , rents 413 and other expenses o erty . Buyer shall have option of taking over existing policies a urance , if assumable , in 414 which event premiums shall rated . Cash at Closing shall be increased o reased as may be required by 415 prorations to be made through day pri Closing . Advance rent and Ity deposits , if any , will be credited to 416 Buyer. Escrow deposits held by Seller' s mortg will be paid t er. Taxes shall be prorated based on current 417 year' s tax with due allowance made for maximum allo Iscount, homestead and other exemptions . If Closing 418 occurs on a date when current year' s millage is ed but t year' s assessment is available , taxes will be 419 prorated based upon such assessment an Ior year' s millage . If curr ear' s assessment is not available , then 420 taxes will be prorated on prior year' s . f there are completed improvements o eal Property by January 1st of 421 year of Closing , which impro ents were not in existence on January 1st of prior year, taxes shall be prorated 422 based upon prior ye I lage and at an equitable assessment to be agreed upon between the s , failing which , 423 request shall ade to the County Property Appraiser for an informal assessment taking into acco ailable 424 exem s . A tax proration based on an estimate shall , at either party' s request, be readjusted upon recel 425 ctrrrent year' s tax bill . This STANDARD K shall survive Closing . 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS , INSPECTIONS , AND WALK-THROUGH : Seller shall , 427 upon reasonable notice , provide utilities service and access to Property for appraisals and inspections , including a 428 walk-through (or follow-up walk-through if necessary) prior to Closing . 429 M . RISK OF LOSS : If, after Effective Date , but before Closing , Property is damaged by fire or other casualty 430 (" Casualty Loss" ) and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1 . 5 % of Purchase Price , cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing , a sum equal to 125 % of estimated 433 cost to complete restoration ( not to exceed 1 . 5 % of Purchase Price) , will be escrowed at Closing . If actual cost of 434 restoration exceeds escrowed amount , Seller shall pay such actual costs ( but, not in excess of 1 . 5 % of Purchase 435 Price) . Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1 . 5 % of 436 Purchase Price , Buyer shall elect to either take Property " as is" together with the 1 . 5 % , or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller' s sole obligation 438 with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal . 439 N . 1031 EX we 440 Closing or deferred ) under Section 1031 of the Internal Revenue a the other party shall cooperate 441 in all reasonable respects to effectu ge , including execution of documents ; provided , however 442 cooperatin no lability or expense related to the Exchange , and Closing shall not be contingent 443 444 O . CONTRACT NOT RECORDABLE ; PERSONS BOUND ; NOTICE ; COPIES : Neither this Contract nor any 445 notice of it shall be recorded in any public records . This Contract shall be binding on , and inure to the benefit of, the 446 parties and the respective heirs or successors in interest. Whenever the context permits , singular shall in I de ural Buyer's Initials Page 8 of 10 Seller' s Initia Florida Rea ltors/FloridaBar-ASIS-1 Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . ¢¢ tt Sedal#: 020778-500137-6405473 5 I 1 ''S 1n I ,} 1 1k: I a 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 448 and one gender shall include all . Notice and delivery given by or to the attorney or broker ( including such broker' s real 449 estate licensee) representing any party shall be as effective as if given by or to that party . All notices must be in 450 writing and may be made by mail , personal delivery or electronic ( including " pdf' ) media . A legible facsimile or 451 electronic ( including " pdf' ) copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original . 453 P . INTEGRATION ; MODIFICATION : This Contract contains the full and complete understanding and agreement of 454 Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change 456 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. 458 Q. WAIVER : Failure of Buyer or Seller to insist on compliance with , or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 46o rights . 461 R. RIDERS ; ADDENDA ; TYPEWRITTEN OR HANDWRITTEN PROVISIONS : Riders , addenda , and typewritten 462 or handwritten provisions shall control all printed provisions of this Contract in conflict with them . 463 S . COLLECTION or COLLECTED : , COLLECTION ,, or ,, COLLECTED,, means any checks tendered or received , 464 including Deposits , have become actually and finally collected and deposited in the account of Escrow Agent 465 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 466 Closing Agent until such amounts have been COLLECTED in Closing Agent's accounts . 467 T. LO 468 Cn teel n ¢ upon whinh tha lanriar is willinn t�n make 'partlClllac m^rtg? ^ p In�3nar'tiri alar hnrrnwre 469 U . APPLICABLE LAW AND VENUE : This Contract shall be construed in accordance with the laws of the State of 47o Florida and venue for resolution of all disputes , whether by mediation , arbitration or litigation , shall lie in the county in 471 which the Real Property is located . 472 X. BUYER WAIVER OF CLAIMS : Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 476 ADDENDA AND ADDITIONAL TERMS 477 19 . ADDENDA : The following additional terms are included in the attached addenda and incorporated into this 478* Contract (Check if applicable) : ❑ A. Condominium Assn . ❑ L . RESERVED ❑ R . Rezoning ❑ Y . Seller' s Attorney ❑ Be Homeowners ' Assn . ❑ S . Lease Purchase/ Approval ❑ C . Seller Financing ❑ M . Defective Drywall Lease Option ❑ Z . Buyer' s Attorney ❑ D . Mortgage Assumption ❑ N . Coastal Construction ❑ T. Pre-Closing Approval ❑ E . FHA/VA Financing Control Line Occupancy ❑ AA. Licensee-Personal ❑ F . Appraisal Contingency ❑ O . Insulation Disclosure ❑ U . Post-Closing Interest in Property ❑ G . Short Sale ❑ P . Pre- 1978 Housing Occupancy ❑ BB . Binding Arbitration ❑ H . Homeowners' Insurance Statement ( Lead ❑ V. Sale of Buyer' s ❑ Other ❑ I . FIRPTA Based Paint) Property ❑ J . Interest- Bearing Acct. ❑ Q . Housing for Older ❑ W. Back-up Contract ❑ K. RESERVED Persons ❑ X . Kick-out Clause 479* 20 . ADDITIONAL TERMS : *This contract is contingent upon Indian River County Board of County commission approval ; 480* Title insurance shall be at Buyer's expense; 2013 real estate taxes arebuyer's expense ; the closing date shall e 14 days after IRC BOCC 481 * approval 482* 483* 484* 485* 486* 487* 488* 489* 490* 491 * 492* 493* Buyer's Initials Page 9 of 10 Seller' s Initials IW Florida Rea Ito rs/FloridaBar-ASISA Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . §1 ( Serialk 020778-500137-6405473 t I ill ' I I ' 1 � l Ic it v 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 448 and one gender shall include all . Notice and delivery given by or to the attorney or broker ( including such broker' s real 449 estate licensee) representing any party shall be as effective as if given by or to that party . All notices must be in 450 writing and may be made by mail , personal delivery or electronic ( including " pdf' ) media . A legible facsimile or 451 electronic ( including " pdf' ) copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original . 453 P . INTEGRATION ; MODIFICATION : This Contract contains the full and complete understanding and agreement of 454 Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change 456 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. 458 Q. WAIVER : Failure of Buyer or Seller to insist on compliance with , or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 46o rights . 461 R. RIDERS ; ADDENDA ; TYPEWRITTEN OR HANDWRITTEN PROVISIONS : Riders , addenda , and typewritten 462 or handwritten provisions shall control all printed provisions of this Contract in conflict with them . 463 S . COLLECTION or COLLECTED : , COLLECTION ,, or ,, COLLECTED,, means any checks tendered or received , 464 including Deposits , have become actually and finally collected and deposited in the account of Escrow Agent 465 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 466 Closing Agent until such amounts have been COLLECTED in Closing Agent's accounts . 467 T. LO 468 Cn teel n ¢ upon whinh tha lanriar is willinn t�n make 'partlClllac m^rtg? ^ p In�3nar'tiri alar hnrrnwre 469 U . APPLICABLE LAW AND VENUE : This Contract shall be construed in accordance with the laws of the State of 47o Florida and venue for resolution of all disputes , whether by mediation , arbitration or litigation , shall lie in the county in 471 which the Real Property is located . 472 X. BUYER WAIVER OF CLAIMS : Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 476 ADDENDA AND ADDITIONAL TERMS 477 19 . ADDENDA : The following additional terms are included in the attached addenda and incorporated into this 478* Contract (Check if applicable) : ❑ A. Condominium Assn . ❑ L . RESERVED ❑ R . Rezoning ❑ Y . Seller' s Attorney ❑ Be Homeowners ' Assn . ❑ S . Lease Purchase/ Approval ❑ C . Seller Financing ❑ M . Defective Drywall Lease Option ❑ Z . Buyer' s Attorney ❑ D . Mortgage Assumption ❑ N . Coastal Construction ❑ T. Pre-Closing Approval ❑ E . FHA/VA Financing Control Line Occupancy ❑ AA. Licensee-Personal ❑ F . Appraisal Contingency ❑ O . Insulation Disclosure ❑ U . Post-Closing Interest in Property ❑ G . Short Sale ❑ P . Pre- 1978 Housing Occupancy ❑ BB . Binding Arbitration ❑ H . Homeowners' Insurance Statement ( Lead ❑ V. Sale of Buyer' s ❑ Other ❑ I . FIRPTA Based Paint) Property ❑ J . Interest- Bearing Acct. ❑ Q . Housing for Older ❑ W. Back-up Contract ❑ K. RESERVED Persons ❑ X . Kick-out Clause 479* 20 . ADDITIONAL TERMS : *This contract is contingent upon Indian River County Board of County commission approval ; 480* Title insurance shall be at Buyer's expense; 2013 real estate taxes arebuyer's expense ; the closing date shall e 14 days after IRC BOCC 481 * approval 482* 483* 484* 485* 486* 487* 488* 489* 490* 491 * 492* 493* Buyer's Initials Page 9 of 10 Seller' s Initials IW Florida Rea Ito rs/FloridaBar-ASISA Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . §1 ( Serialk 020778-500137-6405473 t I ill ' I I ' 1 � l Ic it v 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED ) 448 and one gender shall include all . Notice and delivery given by or to the attorney or broker ( including such broker' s real 449 estate licensee) representing any party shall be as effective as if given by or to that party . All notices must be in 450 writing and may be made by mail , personal delivery or electronic ( including " pdf' ) media . A legible facsimile or 451 electronic ( including " pdf' ) copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original . 453 P . INTEGRATION ; MODIFICATION : This Contract contains the full and complete understanding and agreement of 454 Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change 456 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. 458 Q. WAIVER : Failure of Buyer or Seller to insist on compliance with , or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 46o rights . 461 R. RIDERS ; ADDENDA ; TYPEWRITTEN OR HANDWRITTEN PROVISIONS : Riders , addenda , and typewritten 462 or handwritten provisions shall control all printed provisions of this Contract in conflict with them . 463 S . COLLECTION or COLLECTED : , COLLECTION ,, or ,, COLLECTED,, means any checks tendered or received , 464 including Deposits , have become actually and finally collected and deposited in the account of Escrow Agent 465 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 466 Closing Agent until such amounts have been COLLECTED in Closing Agent's accounts . 467 T. LO 468 Cn teel n ¢ upon whinh tha lanriar is willinn t�n make 'partlClllac m^rtg? ^ p In�3nar'tiri alar hnrrnwre 469 U . APPLICABLE LAW AND VENUE : This Contract shall be construed in accordance with the laws of the State of 47o Florida and venue for resolution of all disputes , whether by mediation , arbitration or litigation , shall lie in the county in 471 which the Real Property is located . 472 X. BUYER WAIVER OF CLAIMS : Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 476 ADDENDA AND ADDITIONAL TERMS 477 19 . ADDENDA : The following additional terms are included in the attached addenda and incorporated into this 478* Contract (Check if applicable) : ❑ A. Condominium Assn . ❑ L . RESERVED ❑ R . Rezoning ❑ Y . Seller' s Attorney ❑ Be Homeowners ' Assn . ❑ S . Lease Purchase/ Approval ❑ C . Seller Financing ❑ M . Defective Drywall Lease Option ❑ Z . Buyer' s Attorney ❑ D . Mortgage Assumption ❑ N . Coastal Construction ❑ T. Pre-Closing Approval ❑ E . FHA/VA Financing Control Line Occupancy ❑ AA. Licensee-Personal ❑ F . Appraisal Contingency ❑ O . Insulation Disclosure ❑ U . Post-Closing Interest in Property ❑ G . Short Sale ❑ P . Pre- 1978 Housing Occupancy ❑ BB . Binding Arbitration ❑ H . Homeowners' Insurance Statement ( Lead ❑ V. Sale of Buyer' s ❑ Other ❑ I . FIRPTA Based Paint) Property ❑ J . Interest- Bearing Acct. ❑ Q . Housing for Older ❑ W. Back-up Contract ❑ K. RESERVED Persons ❑ X . Kick-out Clause 479* 20 . ADDITIONAL TERMS : *This contract is contingent upon Indian River County Board of County commission approval ; 480* Title insurance shall be at Buyer's expense; 2013 real estate taxes arebuyer's expense ; the closing date shall e 14 days after IRC BOCC 481 * approval 482* 483* 484* 485* 486* 487* 488* 489* 490* 491 * 492* 493* Buyer's Initials Page 9 of 10 Seller' s Initials IW Florida Rea Ito rs/FloridaBar-ASISA Rev. 6/10 © 2010 Florida Realtors® and The Florida Bar. All rights reserved . §1 ( Serialk 020778-500137-6405473 t I ill ' I I ' 1 � l Ic it v 494 COUNTER=OFFER/REJECTION 495* ❑ Seller counters Buyer' s offer (to accept the counter-offer, Buyer must sign or initial the counter-offered terms and 496 deliver a copy of the acceptance to Seller) . 497* ❑ Seller rejects Buyer' s offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD , SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING . 50o THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction . Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. 505 AN ASTERISK ( *) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 506 BE COMPLETED . I 507* Buyer: Date : S " 508* Buyer: Date : 509* Seller: Date : �,9M ��2 < � © l � L � 510* Seller: M 1901 Date : 511 Buyer' s address for purposes of notice Seller' s address for purposes of notice 512* 1801 27th St, 9015 Americana Road #9 513* Bero Beach , FL 32960 Vero Beach , FL 32966 514* 515 BROKER : Listing and Cooperating Brokers , if any , named below (collectively , " Broker" ) , are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 518 agreements with the parties and cooperative agreements between the Brokers , except to the extent Broker has 519 retained such fees from the escrowed funds . This Contract shall not modify any MLS or other offer of compensation 520 made by Seller or Listing Broker to Cooperating Brokers . 521 * NONE NONE 522 Cooperating Sales Associate , if any Listing Sales Associate 523* NONE NONE 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FloridaRealtors/FloridaBar-ASIS- 1 Rev. 6/10 C 2010 Florida Realtors® and The Florida Bar. All rights reserved . { Serialk 020778-500137-6405473 ! f i 494 COUNTER=OFFER/REJECTION 495* ❑ Seller counters Buyer' s offer (to accept the counter-offer, Buyer must sign or initial the counter-offered terms and 496 deliver a copy of the acceptance to Seller) . 497* ❑ Seller rejects Buyer' s offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD , SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING . 50o THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction . Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. 505 AN ASTERISK ( *) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 506 BE COMPLETED . I 507* Buyer: Date : S " 508* Buyer: Date : 509* Seller: Date : �,9M ��2 < � © l � L � 510* Seller: M 1901 Date : 511 Buyer' s address for purposes of notice Seller' s address for purposes of notice 512* 1801 27th St, 9015 Americana Road #9 513* Bero Beach , FL 32960 Vero Beach , FL 32966 514* 515 BROKER : Listing and Cooperating Brokers , if any , named below (collectively , " Broker" ) , are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 518 agreements with the parties and cooperative agreements between the Brokers , except to the extent Broker has 519 retained such fees from the escrowed funds . This Contract shall not modify any MLS or other offer of compensation 520 made by Seller or Listing Broker to Cooperating Brokers . 521 * NONE NONE 522 Cooperating Sales Associate , if any Listing Sales Associate 523* NONE NONE 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FloridaRealtors/FloridaBar-ASIS- 1 Rev. 6/10 C 2010 Florida Realtors® and The Florida Bar. All rights reserved . { Serialk 020778-500137-6405473 ! f i 494 COUNTER=OFFER/REJECTION 495* ❑ Seller counters Buyer' s offer (to accept the counter-offer, Buyer must sign or initial the counter-offered terms and 496 deliver a copy of the acceptance to Seller) . 497* ❑ Seller rejects Buyer' s offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD , SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING . 50o THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction . Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. 505 AN ASTERISK ( *) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 506 BE COMPLETED . I 507* Buyer: Date : S " 508* Buyer: Date : 509* Seller: Date : �,9M ��2 < � © l � L � 510* Seller: M 1901 Date : 511 Buyer' s address for purposes of notice Seller' s address for purposes of notice 512* 1801 27th St, 9015 Americana Road #9 513* Bero Beach , FL 32960 Vero Beach , FL 32966 514* 515 BROKER : Listing and Cooperating Brokers , if any , named below (collectively , " Broker" ) , are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 518 agreements with the parties and cooperative agreements between the Brokers , except to the extent Broker has 519 retained such fees from the escrowed funds . This Contract shall not modify any MLS or other offer of compensation 520 made by Seller or Listing Broker to Cooperating Brokers . 521 * NONE NONE 522 Cooperating Sales Associate , if any Listing Sales Associate 523* NONE NONE 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FloridaRealtors/FloridaBar-ASIS- 1 Rev. 6/10 C 2010 Florida Realtors® and The Florida Bar. All rights reserved . { Serialk 020778-500137-6405473 ! f i IN WITNESS WHEREOF , the undersigned have approved and executed this Residential Contract for Sale and Purchase . BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY , FLORIDA +40.0 510 h o" ppp +. PC BY . �` os ph E . Flescher , Chairman O N. , 04 *10 so BCC Approved : 08-2o- 13 / 1"gap, �0�r11 � •R rJ C4. Approved : By 0 , JosjBh A . YE Coy Admin (&tj istrator Attest : Jeffrey R . Smith , Clerk of Court and Comptroller eputy Clerk Approved as to form and legallAvfficiency • William K . DeBraal Deputy County Attorney IN WITNESS WHEREOF , the undersigned have approved and executed this Residential Contract for Sale and Purchase . BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY , FLORIDA +40.0 510 h o" ppp +. PC BY . �` os ph E . Flescher , Chairman O N. , 04 *10 so BCC Approved : 08-2o- 13 / 1"gap, �0�r11 � •R rJ C4. Approved : By 0 , JosjBh A . YE Coy Admin (&tj istrator Attest : Jeffrey R . Smith , Clerk of Court and Comptroller eputy Clerk Approved as to form and legallAvfficiency • William K . DeBraal Deputy County Attorney IN WITNESS WHEREOF , the undersigned have approved and executed this Residential Contract for Sale and Purchase . BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY , FLORIDA +40.0 510 h o" ppp +. PC BY . �` os ph E . Flescher , Chairman O N. , 04 *10 so BCC Approved : 08-2o- 13 / 1"gap, �0�r11 � •R rJ C4. Approved : By 0 , JosjBh A . YE Coy Admin (&tj istrator Attest : Jeffrey R . Smith , Clerk of Court and Comptroller eputy Clerk Approved as to form and legallAvfficiency • William K . DeBraal Deputy County Attorney 0 20 40 80 I GRAPHIC SCALE ( IN FEET) LEGEND I . R . F. W . M . D . = INDIAN RIVER FARMS WATER MANAGEMENT DISTRICT O . R . B . = OFFICIAL RECORD BOOK P . B . = PLAT BOOK PG . = PAGE R/W = RIGHT - OF - WAY I x ADDRESS: o 5020 26TH STREET o J 32 - 39-33-00001 -0150-00002.0 0 < f as vi HAMPSHIRE SUBDIVISION WOLFF, JAMES RYAN 0 o P. B . 29 PG. 99 N O.R.B. 1991 , PG, 1584 0m " 0 � � v o a � NoLOT A' 0dt6 oJm 00 " W o Qm I 32-39 -33-00004-0000-00000. 1 ? ~ moo KING, RONEE SUZAN ( 1 /2) & M -i0m n BLOCK, STEPHEN ALLAN ( 1 /2) 3 PROPOSED R/W LINE ,� > � � mho - - - - - - - - - - - - - I � � o nZ O.R. B. 2193, PG. 2238 N „"� �` EXISTING Lo n 164 . CIO R/W LINE 139 ' EXISTING R/W LINE cv — 134. 3 ' EXISTING R/W LINE 30 ' rn � rn C7 C7 � L N o 26TH STREET ( R/W VARIES) n 9 a m 2S SOUTH LINE SECTION 33 TWP 3 — TWP 33S a o I . R . F.W . M . D. SUB - LATERAL A- 3 CANAL ( 30' R/W) g - — 116 , 48 ' R/W LINE 138 . 101 — — — — — — COMPASS POINTE P . B . 169 PG . 55 BLOCK A LOT 42 33- 39-04-00001 -0020-00030.0 33- 39 -04-00033-0010-00042.0 z MCKEN O. R GUYLAN JR & PAMELA J CI O. R. B. 2225, PG. 954 EIDEM, PAUL H & KAREN Scs O.R. B. 1661 , PG. 1145 1 3 I I b I I I THIS IS NOT A BOUNDARY SURVEY a EXHIBIT FOR INFORMATIONAL PURPOSES ONLY 4 DRAWN BY: SEC 33 T32S R39E EXHIBIT SHEET INDIAN RIVER COUNTY Be ROACH j Department of Public Xorks APPROVED BY: SEC 04 T33S R39E 26TH STREET / Engineering Division D. SCHRYVER PARCEL #TEST OF 50TH AVE OF 1 0 20 40 80 I GRAPHIC SCALE ( IN FEET) LEGEND I . R . F. W . M . D . = INDIAN RIVER FARMS WATER MANAGEMENT DISTRICT O . R . B . = OFFICIAL RECORD BOOK P . B . = PLAT BOOK PG . = PAGE R/W = RIGHT - OF - WAY I x ADDRESS: o 5020 26TH STREET o J 32 - 39-33-00001 -0150-00002.0 0 < f as vi HAMPSHIRE SUBDIVISION WOLFF, JAMES RYAN 0 o P. B . 29 PG. 99 N O.R.B. 1991 , PG, 1584 0m " 0 � � v o a � NoLOT A' 0dt6 oJm 00 " W o Qm I 32-39 -33-00004-0000-00000. 1 ? ~ moo KING, RONEE SUZAN ( 1 /2) & M -i0m n BLOCK, STEPHEN ALLAN ( 1 /2) 3 PROPOSED R/W LINE ,� > � � mho - - - - - - - - - - - - - I � � o nZ O.R. B. 2193, PG. 2238 N „"� �` EXISTING Lo n 164 . CIO R/W LINE 139 ' EXISTING R/W LINE cv — 134. 3 ' EXISTING R/W LINE 30 ' rn � rn C7 C7 � L N o 26TH STREET ( R/W VARIES) n 9 a m 2S SOUTH LINE SECTION 33 TWP 3 — TWP 33S a o I . R . F.W . M . D. SUB - LATERAL A- 3 CANAL ( 30' R/W) g - — 116 , 48 ' R/W LINE 138 . 101 — — — — — — COMPASS POINTE P . B . 169 PG . 55 BLOCK A LOT 42 33- 39-04-00001 -0020-00030.0 33- 39 -04-00033-0010-00042.0 z MCKEN O. R GUYLAN JR & PAMELA J CI O. R. B. 2225, PG. 954 EIDEM, PAUL H & KAREN Scs O.R. B. 1661 , PG. 1145 1 3 I I b I I I THIS IS NOT A BOUNDARY SURVEY a EXHIBIT FOR INFORMATIONAL PURPOSES ONLY 4 DRAWN BY: SEC 33 T32S R39E EXHIBIT SHEET INDIAN RIVER COUNTY Be ROACH j Department of Public Xorks APPROVED BY: SEC 04 T33S R39E 26TH STREET / Engineering Division D. SCHRYVER PARCEL #TEST OF 50TH AVE OF 1 0 20 40 80 I GRAPHIC SCALE ( IN FEET) LEGEND I . R . F. W . M . D . = INDIAN RIVER FARMS WATER MANAGEMENT DISTRICT O . R . B . = OFFICIAL RECORD BOOK P . B . = PLAT BOOK PG . = PAGE R/W = RIGHT - OF - WAY I x ADDRESS: o 5020 26TH STREET o J 32 - 39-33-00001 -0150-00002.0 0 < f as vi HAMPSHIRE SUBDIVISION WOLFF, JAMES RYAN 0 o P. B . 29 PG. 99 N O.R.B. 1991 , PG, 1584 0m " 0 � � v o a � NoLOT A' 0dt6 oJm 00 " W o Qm I 32-39 -33-00004-0000-00000. 1 ? ~ moo KING, RONEE SUZAN ( 1 /2) & M -i0m n BLOCK, STEPHEN ALLAN ( 1 /2) 3 PROPOSED R/W LINE ,� > � � mho - - - - - - - - - - - - - I � � o nZ O.R. B. 2193, PG. 2238 N „"� �` EXISTING Lo n 164 . CIO R/W LINE 139 ' EXISTING R/W LINE cv — 134. 3 ' EXISTING R/W LINE 30 ' rn � rn C7 C7 � L N o 26TH STREET ( R/W VARIES) n 9 a m 2S SOUTH LINE SECTION 33 TWP 3 — TWP 33S a o I . R . F.W . M . D. SUB - LATERAL A- 3 CANAL ( 30' R/W) g - — 116 , 48 ' R/W LINE 138 . 101 — — — — — — COMPASS POINTE P . B . 169 PG . 55 BLOCK A LOT 42 33- 39-04-00001 -0020-00030.0 33- 39 -04-00033-0010-00042.0 z MCKEN O. R GUYLAN JR & PAMELA J CI O. R. B. 2225, PG. 954 EIDEM, PAUL H & KAREN Scs O.R. B. 1661 , PG. 1145 1 3 I I b I I I THIS IS NOT A BOUNDARY SURVEY a EXHIBIT FOR INFORMATIONAL PURPOSES ONLY 4 DRAWN BY: SEC 33 T32S R39E EXHIBIT SHEET INDIAN RIVER COUNTY Be ROACH j Department of Public Xorks APPROVED BY: SEC 04 T33S R39E 26TH STREET / Engineering Division D. SCHRYVER PARCEL #TEST OF 50TH AVE OF 1 3120130059716 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT INDIAN RIVER COUNTY FL This instrument was prepared incident to BK: 2703 PG: 1244 Page 1 of 2 9/132013 3 : 55 PM the issuance of a title insurance contract, D DOCTAX PD $0 . 70 and is to be returned to: Jason A. Beal Atlantic Coastal Land Title Company, LLC 855 21 ' St. , Suite C Vero Beach, Florida 32,960 ACLT File Number : 43080306 Parcel ID Number : 32-39-33-00001 =0150-00002 .0 GENERAL WARRANTY DEED This deed, made as of this 30th day of August, 2013 , by Bamaric of VB , LLC , a Florida limited liability company (as Grantor) ; and Indian River County, a political subdivision of the State of Florida , whose post office address is : 180127th St, Vero Beach, FL 32960 (as Grantee) ; (Wherever used herein, the terms grantor" and "grantee " shall include singular and plural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits or requires.) WITNESSETH : That the grantor, for and in consideration of the sum of $ 10 . 00 in hand paid by grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto the grantee forever, all the right, title, interest, claim and demand which the said grantor has in and to the. following described parcel of land, to wit: The West 134 .3 feet of the South 270 feet of the West 10 acres of Tract 15 , Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 2 , at Page(s) 25, of the Public Records of St. Lucie County Florida ; said lands now lying and being in Indian River County, Florida. LESS AND EXCEPT that part of 26th Street (Walker Avenue) as reserved in Plat Book 14, at Pages 18 & 18A. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD the same in fee simple forever. AND grantor hereby covenants with grantee that grantor is lawfully seized of said land in fee simple ; that grantor has good right and lawful authority to sell and convey said land; that grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency 3120130059716 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT INDIAN RIVER COUNTY FL This instrument was prepared incident to BK: 2703 PG: 1244 Page 1 of 2 9/132013 3 : 55 PM the issuance of a title insurance contract, D DOCTAX PD $0 . 70 and is to be returned to: Jason A. Beal Atlantic Coastal Land Title Company, LLC 855 21 ' St. , Suite C Vero Beach, Florida 32,960 ACLT File Number : 43080306 Parcel ID Number : 32-39-33-00001 =0150-00002 .0 GENERAL WARRANTY DEED This deed, made as of this 30th day of August, 2013 , by Bamaric of VB , LLC , a Florida limited liability company (as Grantor) ; and Indian River County, a political subdivision of the State of Florida , whose post office address is : 180127th St, Vero Beach, FL 32960 (as Grantee) ; (Wherever used herein, the terms grantor" and "grantee " shall include singular and plural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits or requires.) WITNESSETH : That the grantor, for and in consideration of the sum of $ 10 . 00 in hand paid by grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto the grantee forever, all the right, title, interest, claim and demand which the said grantor has in and to the. following described parcel of land, to wit: The West 134 .3 feet of the South 270 feet of the West 10 acres of Tract 15 , Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 2 , at Page(s) 25, of the Public Records of St. Lucie County Florida ; said lands now lying and being in Indian River County, Florida. LESS AND EXCEPT that part of 26th Street (Walker Avenue) as reserved in Plat Book 14, at Pages 18 & 18A. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD the same in fee simple forever. AND grantor hereby covenants with grantee that grantor is lawfully seized of said land in fee simple ; that grantor has good right and lawful authority to sell and convey said land; that grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency 3120130059716 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT INDIAN RIVER COUNTY FL This instrument was prepared incident to BK: 2703 PG: 1244 Page 1 of 2 9/132013 3 : 55 PM the issuance of a title insurance contract, D DOCTAX PD $0 . 70 and is to be returned to: Jason A. Beal Atlantic Coastal Land Title Company, LLC 855 21 ' St. , Suite C Vero Beach, Florida 32,960 ACLT File Number : 43080306 Parcel ID Number : 32-39-33-00001 =0150-00002 .0 GENERAL WARRANTY DEED This deed, made as of this 30th day of August, 2013 , by Bamaric of VB , LLC , a Florida limited liability company (as Grantor) ; and Indian River County, a political subdivision of the State of Florida , whose post office address is : 180127th St, Vero Beach, FL 32960 (as Grantee) ; (Wherever used herein, the terms grantor" and "grantee " shall include singular and plural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits or requires.) WITNESSETH : That the grantor, for and in consideration of the sum of $ 10 . 00 in hand paid by grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto the grantee forever, all the right, title, interest, claim and demand which the said grantor has in and to the. following described parcel of land, to wit: The West 134 .3 feet of the South 270 feet of the West 10 acres of Tract 15 , Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 2 , at Page(s) 25, of the Public Records of St. Lucie County Florida ; said lands now lying and being in Indian River County, Florida. LESS AND EXCEPT that part of 26th Street (Walker Avenue) as reserved in Plat Book 14, at Pages 18 & 18A. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD the same in fee simple forever. AND grantor hereby covenants with grantee that grantor is lawfully seized of said land in fee simple ; that grantor has good right and lawful authority to sell and convey said land; that grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency and easements of record, if any ; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same) . IN WITNESS WHEREOF, the said grantor has caused these presents to be signed and sealed in its name, as of the day and year first above written . Bamaric of VB , LLC , a Florida limited liability company [AFFIX CORPORATE SEAL] By : Frederick W . Baker its Manager S . Mark Baker is Manager Grantor' s Mailing Address : 9015 Americana Road #9 Vero Beach, FL 32966 Signed, sealed and delivered in th rese of J' asv - - - - - _ . loor State of FLORIDA County of INDIAN RIVER The foregoing instrument was acknowledged before me the date hereinafter given , by Frederick W. Baker and Mark S. Baker; as Managers of the corporation/partnership/LLC named herein as the grantor, on behalf of the corporation/partnership/LLC ; and who was/were either personally kMwn to me ; or produced identification of sufficient character so as to identify said individual (s) with reasonable certainty ; and who did/did not take an oath. Witness my hand and official seal in the County and State last aforesaid, this 30th day of August, 2013 . ,•;;K� B. JASON A . BEAL ` +°. `�? Notary Public - State of FloIrida My Comm . Expires Oct 1 It Notary Public +.�„ "�,,,,��a:° Commission # EE 83613 %jCOF f � Bonded Through National Notary ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency and easements of record, if any ; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same) . IN WITNESS WHEREOF, the said grantor has caused these presents to be signed and sealed in its name, as of the day and year first above written . Bamaric of VB , LLC , a Florida limited liability company [AFFIX CORPORATE SEAL] By : Frederick W . Baker its Manager S . Mark Baker is Manager Grantor' s Mailing Address : 9015 Americana Road #9 Vero Beach, FL 32966 Signed, sealed and delivered in th rese of J' asv - - - - - _ . loor State of FLORIDA County of INDIAN RIVER The foregoing instrument was acknowledged before me the date hereinafter given , by Frederick W. Baker and Mark S. Baker; as Managers of the corporation/partnership/LLC named herein as the grantor, on behalf of the corporation/partnership/LLC ; and who was/were either personally kMwn to me ; or produced identification of sufficient character so as to identify said individual (s) with reasonable certainty ; and who did/did not take an oath. Witness my hand and official seal in the County and State last aforesaid, this 30th day of August, 2013 . ,•;;K� B. JASON A . BEAL ` +°. `�? Notary Public - State of FloIrida My Comm . Expires Oct 1 It Notary Public +.�„ "�,,,,��a:° Commission # EE 83613 %jCOF f � Bonded Through National Notary ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency and easements of record, if any ; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same) . IN WITNESS WHEREOF, the said grantor has caused these presents to be signed and sealed in its name, as of the day and year first above written . Bamaric of VB , LLC , a Florida limited liability company [AFFIX CORPORATE SEAL] By : Frederick W . Baker its Manager S . Mark Baker is Manager Grantor' s Mailing Address : 9015 Americana Road #9 Vero Beach, FL 32966 Signed, sealed and delivered in th rese of J' asv - - - - - _ . loor State of FLORIDA County of INDIAN RIVER The foregoing instrument was acknowledged before me the date hereinafter given , by Frederick W. Baker and Mark S. Baker; as Managers of the corporation/partnership/LLC named herein as the grantor, on behalf of the corporation/partnership/LLC ; and who was/were either personally kMwn to me ; or produced identification of sufficient character so as to identify said individual (s) with reasonable certainty ; and who did/did not take an oath. Witness my hand and official seal in the County and State last aforesaid, this 30th day of August, 2013 . ,•;;K� B. JASON A . BEAL ` +°. `�? Notary Public - State of FloIrida My Comm . Expires Oct 1 It Notary Public +.�„ "�,,,,��a:° Commission # EE 83613 %jCOF f � Bonded Through National Notary ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency "AS IS " Residential Contract For Sale And Purchase Qla, Flor d�aRealtors& 'PHIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BARThe Vaice for Rezl Fstate�in Florida 1 ` PARTIES • Bamaric of VB , LLC ("Seller") , r and Indian River County ("Buyer') , 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively " Property") pursuant to the terms and conditions of this AS IS Residential Contract For Sale 5 And Purchase and any riders and addenda ('Contract'), a 1 . PROPERTY DESCRIPTION , r (a) Street address, city, zip: 5020 26th St. Vero Beach, FL 32966 e• (b) Property is locked in: Indian River County, Florida. Real Property Tax ID No: 32393300001015000002.0 8* (c) Legal description of the Real Property : Indian River Farms Co. Sub. PBS 2-12 W 134. 3 feet of S. 270 feet of W 10 1a* Acres of Tr 15, as recorded in OR Book 387 pg 143 and also less por for add My on 26th St. per PBI 1418 11 together with all existing improvements and fixtures, including built-in appliances , built-in furnishings and 12 attached wall-to-wall carpeting and flooring (" Real Property°) unless specifically excluded below. 13 (d ) Personal Property : The following items owned by Seller and .existing on the Property as of the date 14 of the initial offer are included in the purchase ("Personal Property") : (i) ranges)/oven(s), dishwasher(s), 1s disposal, ceiling fan (s), intercom, light fixtures, rods, draperies and other window treatments, garage door 16 openers, and security gate and other access devices; and (ii) those additional items checked below. If 17* additional details are necessary, specify below. If left blank, the item below is not Included: Refrigerators) ❑ Smoke detector(s) ❑ Pool barrier/fence ❑ Storage shed Microwave oven ❑ Security system ❑ Pool equipment ❑ TV antenna/satellite dish ❑ Washer ❑ Windowhvrall a/c ❑ Pool heater ❑ Water softener/purifier ❑ Dryer ❑ Generator ❑ Spa or hot tub with heater ❑ Storm shutters and ❑ Stand-alone ice maker ❑ Above ground pool panels 18 The only other items of Personal Property included in this purchase, and any additional details regarding 19* Personal Property, if necessary , are: any and all personal property presently in and. on the subject property 20* and house. 21 Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. 22* (e) The following items are excluded from the purchase: 23* 24* 2. PURCHASE PRICE (U .S. currency) : asswess we bosom mummoomman am Room off mmommummemad tuee * $ 72 , 911 .41 25* (a) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ -0- 26 The initial deposit made payable and delivered to `Escrow Agent' named below 27* (CHECK ONE): ❑ accompanies offer or ❑ is to be made upon acceptance (Effective 28* Date) or ❑ is to be made within (if blank, then 3) days after Effective Date 29* Escrow Agent Information: Name: 30* Address: Phone: 31 * E-mail: Fax: 32* (b) Additional deposit to be delivered to Escrow Agent within (if blank, then 3) 33* days after Effective Dates . . .. .. . . . . . .. ... . . . ....... . .. ...... ..... .. .. ... ...... . ... .. .. .. . .. ... .. ...... . . .. . .. ... ... 34 (All deposits paid or agreed to be paid, are collectively referred to as the °Deposit") 35* (c) Financing : Express as a dollar amount or percentage {" Loan Amount) see Paragraph 8. . . $ -0- 36• (d ) Other. $ -0- 37 (e) Balance to close (not including Buyer's closing costs, prepaids and prorations) by wire - 72 911 .41 38" transfer or other COLLECTED funds. . . . . . . . . . . . . . . .. .. .. . . . : . .. . .. . . . .. . .. . .. .. .. . . . . . . . . .. . . . . . . . . . .. . . . . . .. . . . . . . $ 39 NOTE*. For the definition of "COLLECTION" or "COLLECTED" see STANDARD S . 4o 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS ; EFFECTIVE DATE. 41 * (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before ` 42* this offer shall be deemed withdrawn and the Deposit, if any , will be returned to Buyer. 43 Unless otherwise stated , time for acceptance of any countermoffers shall be within 2 days after the day the 44 counter-offer is delivered . 45 (b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 48 initialed this offer or final counter-offer (" Effective Date") . 47 4. CLOSING DATE : Unless modified by other provisions of this Contract, the closing of this transaction shall occur 46 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49* ("Closing") on It ("Closing Date") , at the time established by the Closing Agen Buyer's Initials 1. Page 1 of 10 Seller's Initials 40� FloridaRea3tor&"or1daBar ASIS-1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. OA 4 serieW. 02OT .soo13T414054J3 fc�tmsunplicl "AS IS " Residential Contract For Sale And Purchase Qla, Flor d�aRealtors& 'PHIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BARThe Vaice for Rezl Fstate�in Florida 1 ` PARTIES • Bamaric of VB , LLC ("Seller") , r and Indian River County ("Buyer') , 3 agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal 4 Property (collectively " Property") pursuant to the terms and conditions of this AS IS Residential Contract For Sale 5 And Purchase and any riders and addenda ('Contract'), a 1 . PROPERTY DESCRIPTION , r (a) Street address, city, zip: 5020 26th St. Vero Beach, FL 32966 e• (b) Property is locked in: Indian River County, Florida. Real Property Tax ID No: 32393300001015000002.0 8* (c) Legal description of the Real Property : Indian River Farms Co. Sub. PBS 2-12 W 134. 3 feet of S. 270 feet of W 10 1a* Acres of Tr 15, as recorded in OR Book 387 pg 143 and also less por for add My on 26th St. per PBI 1418 11 together with all existing improvements and fixtures, including built-in appliances , built-in furnishings and 12 attached wall-to-wall carpeting and flooring (" Real Property°) unless specifically excluded below. 13 (d ) Personal Property : The following items owned by Seller and .existing on the Property as of the date 14 of the initial offer are included in the purchase ("Personal Property") : (i) ranges)/oven(s), dishwasher(s), 1s disposal, ceiling fan (s), intercom, light fixtures, rods, draperies and other window treatments, garage door 16 openers, and security gate and other access devices; and (ii) those additional items checked below. If 17* additional details are necessary, specify below. If left blank, the item below is not Included: Refrigerators) ❑ Smoke detector(s) ❑ Pool barrier/fence ❑ Storage shed Microwave oven ❑ Security system ❑ Pool equipment ❑ TV antenna/satellite dish ❑ Washer ❑ Windowhvrall a/c ❑ Pool heater ❑ Water softener/purifier ❑ Dryer ❑ Generator ❑ Spa or hot tub with heater ❑ Storm shutters and ❑ Stand-alone ice maker ❑ Above ground pool panels 18 The only other items of Personal Property included in this purchase, and any additional details regarding 19* Personal Property, if necessary , are: any and all personal property presently in and. on the subject property 20* and house. 21 Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer. 22* (e) The following items are excluded from the purchase: 23* 24* 2. PURCHASE PRICE (U .S. currency) : asswess we bosom mummoomman am Room off mmommummemad tuee * $ 72 , 911 .41 25* (a) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ -0- 26 The initial deposit made payable and delivered to `Escrow Agent' named below 27* (CHECK ONE): ❑ accompanies offer or ❑ is to be made upon acceptance (Effective 28* Date) or ❑ is to be made within (if blank, then 3) days after Effective Date 29* Escrow Agent Information: Name: 30* Address: Phone: 31 * E-mail: Fax: 32* (b) Additional deposit to be delivered to Escrow Agent within (if blank, then 3) 33* days after Effective Dates . . .. .. . . . . . .. ... . . . ....... . .. ...... ..... .. .. ... ...... . ... .. .. .. . .. ... .. ...... . . .. . .. ... ... 34 (All deposits paid or agreed to be paid, are collectively referred to as the °Deposit") 35* (c) Financing : Express as a dollar amount or percentage {" Loan Amount) see Paragraph 8. . . $ -0- 36• (d ) Other. $ -0- 37 (e) Balance to close (not including Buyer's closing costs, prepaids and prorations) by wire - 72 911 .41 38" transfer or other COLLECTED funds. . . . . . . . . . . . . . . .. .. .. . . . : . .. . .. . . . .. . .. . .. .. .. . . . . . . . . .. . . . . . . . . . .. . . . . . .. . . . . . . $ 39 NOTE*. For the definition of "COLLECTION" or "COLLECTED" see STANDARD S . 4o 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS ; EFFECTIVE DATE. 41 * (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before ` 42* this offer shall be deemed withdrawn and the Deposit, if any , will be returned to Buyer. 43 Unless otherwise stated , time for acceptance of any countermoffers shall be within 2 days after the day the 44 counter-offer is delivered . 45 (b) The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed or 48 initialed this offer or final counter-offer (" Effective Date") . 47 4. CLOSING DATE : Unless modified by other provisions of this Contract, the closing of this transaction shall occur 46 and the closing documents required to be furnished by each party pursuant to this Contract shall be delivered 49* ("Closing") on It ("Closing Date") , at the time established by the Closing Agen Buyer's Initials 1. Page 1 of 10 Seller's Initials 40� FloridaRea3tor&"or1daBar ASIS-1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. OA 4 serieW. 02OT .soo13T414054J3 fc�tmsunplicl OWNER ' S POLICY OF TITLE INSURANCE (with Florida Modifications ) * Policy Number OXFL =08209763 File Number: 43080306 * * * Issued by Old Republic National Title Insurance Company * Any notice of claim and any other notice or statement in writing required to be given to the * * Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. * * * * COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B , AND THE CONDITIONS , OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation (the " Company' ) insures , as of Date of Policy, against loss or damage , not exceeding the Amount of Insurance , sustained or incurred by the Insured by reason of: 1 . Title being vested other than as stated in Schedule A. 2 . Any defect in or lien or encumbrance on the Title . This Covered Risk includes but is not limited to insurance against loss from ( a ) A defect in the Title caused by ( i ) forgery, fraud , undue influence , duress , incompetency, incapacity, or impersonation ; ( ii ) failure of any person or Entity to have authorized a transfer or conveyance; ( iii ) a document affecting Title not properly created , executed , witnessed , sealed , acknowledged , notarized , or delivered ; ( iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified , expired , or otherwise invalid power of attorney; ( vi ) a document not properly filed , recorded , or indexed in the Public Records including failure to perform those acts by electronic means authorized by law, or (vii ) a defective judicial or administrative proceeding . ( b ) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable , but unpaid . ( c ) Any encroachment, encumbrance , violation , variation , or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land . The term " encroachment" includes encroachments of existing improvements located on the Land onto adjoining land , and encroachments onto the Land of existing improvements located on adjoining land . 3 . Unmarketable Title . 4 . No right of access to and from the Land . 5 . The violation or enforcement of any law, ordinance , permit, or governmental regulation ( including those relating to building and zoning ) restricting , regulating , prohibiting , or relating to ( a ) the occupancy, use , or enjoyment of the Land ; ( b) the character, dimensions , or location of any improvement erected on the Land ; ( c ) the subdivision of land ; or ( d ) environmental protection if a notice , describing any part of the Land , is recorded in the Public Records setting forth the violation or intention to enforce , but only to the extent of the violation or enforcement referred to in that notice . In Witness Whereof, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of the Company. Policy Issuer: Countersigned: ATLANTIC COASTAL LAND TITLE COMPANY, LLC 855 21ST STREET, STE C OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY CENTERSTATE BANK BLDG , 2ND FLR A Stock Company VERO BEACH , FL 32960 400 Second Avenue South, Minneapolis, Minnesota 55401 PHONE : 772-569-4364 (612) 371 - 1111 B President Authorized Officer or Licensed Agent ORT Form 4309 FL Attest Secretary ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications) 6 . An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action , describing any part of the Land , is recorded in the Public Records , but only to the extent of the enforcement referred to in that notice . 7 . The exercise of the rights of eminent domain if a notice of the exercise , describing any part of the Land , is recorded in the Public Records . 8 . Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge . 9 . Title being vested other than as stated in Schedule A or being defective (a ) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors ' rights laws ; or ( b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records ( i ) to be timely, or ( ii ) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10 . Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs , attorneys ' fees , and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions . EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of ( b) not Known to the Company, not recorded in the Public this policy , and the Company will not pay loss or damage, costs , Records at Date of Policy, but Known to the Insured Claimant attorneys' fees , or expenses that arise by reason of: and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an 1 . ( a ) Any law, ordinance , permit , or governmental regulation Insured under this policy; ( including those relating to building and zoning ) restricting , ( c ) resulting in no loss or damage to the Insured Claimant, regulating , prohibiting , or relating to (d ) attaching or created subsequent to Date of Policy; or ( e ) resulting in loss or damage that would not have been ( i ) the occupancy, use , or enjoyment of the Land ; sustained if the Insured Claimant had paid value for the Title . ( ii ) the character, dimensions , or location of any improvement erected on the Land ; 4. Any claim , by reason of the operation of federal bankruptcy, state ( iii ) the subdivision of land ; or insolvency, or similar creditors ' rights laws, that the transaction ( iv) environmental protection ; vesting the Title as shown in Schedule A, is or the effect of any violation of these laws , (a ) a fraudulent conveyance or fraudulent transfer, or ordinances , or governmental regulations . This ( b) a preferential transfer for any reason not stated in Covered Exclusion 1 ( a ) does not modify or limit the Risk 9 of this policy . coverage provided under Covered Risk 5 . ( b) Any governmental police power. This Exclusion 1 ( b ) does 5 . Any lien on the Title for real estate taxes or assessments imposed not modify or limit the coverage provided under Covered Risk 6 , by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument 2 . Rights of eminent domain . This Exclusion does not modify or limit of transfer in the Public Records that vests Title as shown in the coverage provided under Covered Risk 7 or 8 . Schedule A . 3 . Defects, liens , encumbrances , adverse claims , or other matters (a ) created , suffered , assumed , or agreed to by the Insured Claimant; ORT Form 4309 FL . ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications) Page 2 5o 5. EXTENSION OF CLOSING DATE: 51 (a ) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In Lending Act (FILA) 52 notice requirements, Closing shall be extended for such period necessary to satisfy TILA notice requirements, 53 not to exceed 7 days. 54 (b ) If extreme weather or other condition or event constituting " Force Majeure" (see STANDARD G ) causes: 55 (i) disruption of utilities or other services essential for Closing , or (ii) Hazard , Wind, Flood or Homeowners' 56 insurance, to become unavailable prior to Closing , Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard , Wind , ss Flood or Homeowners' insurance. If restoration of such utilities or services and availability of insurance has not 50* occurred within ( if left blank, 14) days after Closing Date, then either party may terminate this 60 Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract 62 6. OCCUPANCY AND POSSESSION : Unless otherwise stated herein, Seller shall at Closing, have removed all 63 personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, 64 garage door openers, access devices and codes, as applicable, to Buyer. If Property is intended to be rented or 65 occupied beyond Closing , the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant 68 to STANDARD D. If occupancy Is to be delivered before Closing , Buyer assumes all risks of loss to Property from 67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy. 69* 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from any further liability 70* under this Contract; ❑x may assign but not be released from liability under this Contract; or ❑ may not assign 71 this Contract 72 FINANCING 73 8. FINANCING: 74* ❑x (a) Buyer will pay cash or may obtain a loan for the purchase of the Property . There is no financing 75 contingency to Buyer's obligation to close. 76• ❑ (ti) A ns ElVA loan on the following terms within (if blank, then 30) days after Effective Dat Loan 7E* Commitment Date*) for: (CHECK ONE): ❑ fixed , ❑ adjustable, ❑ fixed or adjustable a loan in 79* the principal amount of $ or of the Purchase Price, at an in ' interest rate 60* not to exceed % (if blank, then prevailing rate based upon Buyer's creditwo ess), and for a 81 ' term of years ("Financing"). 62* Buyer will make mortgage loan. application for the Financing within blank, then 5) days after 63 Effective Date and use good faith and diligent effort to obtain a written loa commitment for the Financing 64 ("Loan Commitment°) and close this Contract Buyer shall keep Sell and Broker fully informed about 65 the status of mortgage loan application and Loan Commitment a authorizes Buyer's mortgage broker 66 and Buyer's lender to disclose such status and progress to Sell nd Broker, 87 if Buyer does not receive Loan Commitment, then Buyer y terminate this Contract by delivering written 88 notice to Seller, and the Deposit shall be refunded t uyer, thereby releasing Buyer and Seller from all 89 further obligations under this Contract. 90 If Buyer does not deliver written notice to S r of receipt of Loan Commitment or Buyer's written waiver of 91 this financing contingency, then after an Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer an a Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations der this Contract 94 If Buyer delivers written lice of receipt of Loan Commitment to Seller and this Contract does not ss thereafter close, the osit shall be paid to Seller unless failure to dose is due to: (1 ) Seller's default; 96 (2 ) Property related ndidons of the Loan Commitment have not been met (except when such conditions 97 are waived by o r provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is 98 insufficient t eet terms of the Loan Commitment; or (4 ) the loan is not funded due to financial failure of ss Buyer's I er, in which event(s) the Deposit shall be retumed to Buyer, thereby releasing Buyer a e ler _ 100 from rther obligations under this Contract 101 • ❑ (c) A mpfionpof existing mortgage (see rider for terms). 102* ❑ (d) ; Buyer's Initials Page 2 of 10 Sellers Initial FloridaReaftors1FioridaBar-ASISAI Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. T Yt j SerialR: 02077BuMM37- 4OW3 formSl; l'f1 +pfict 5o 5. EXTENSION OF CLOSING DATE: 51 (a ) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In Lending Act (FILA) 52 notice requirements, Closing shall be extended for such period necessary to satisfy TILA notice requirements, 53 not to exceed 7 days. 54 (b ) If extreme weather or other condition or event constituting " Force Majeure" (see STANDARD G ) causes: 55 (i) disruption of utilities or other services essential for Closing , or (ii) Hazard , Wind, Flood or Homeowners' 56 insurance, to become unavailable prior to Closing , Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard , Wind , ss Flood or Homeowners' insurance. If restoration of such utilities or services and availability of insurance has not 50* occurred within ( if left blank, 14) days after Closing Date, then either party may terminate this 60 Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby 61 releasing Buyer and Seller from all further obligations under this Contract 62 6. OCCUPANCY AND POSSESSION : Unless otherwise stated herein, Seller shall at Closing, have removed all 63 personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, 64 garage door openers, access devices and codes, as applicable, to Buyer. If Property is intended to be rented or 65 occupied beyond Closing , the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant 68 to STANDARD D. If occupancy Is to be delivered before Closing , Buyer assumes all risks of loss to Property from 67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have 68 accepted Property in its existing condition as of time of taking occupancy. 69* 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from any further liability 70* under this Contract; ❑x may assign but not be released from liability under this Contract; or ❑ may not assign 71 this Contract 72 FINANCING 73 8. FINANCING: 74* ❑x (a) Buyer will pay cash or may obtain a loan for the purchase of the Property . There is no financing 75 contingency to Buyer's obligation to close. 76• ❑ (ti) A ns ElVA loan on the following terms within (if blank, then 30) days after Effective Dat Loan 7E* Commitment Date*) for: (CHECK ONE): ❑ fixed , ❑ adjustable, ❑ fixed or adjustable a loan in 79* the principal amount of $ or of the Purchase Price, at an in ' interest rate 60* not to exceed % (if blank, then prevailing rate based upon Buyer's creditwo ess), and for a 81 ' term of years ("Financing"). 62* Buyer will make mortgage loan. application for the Financing within blank, then 5) days after 63 Effective Date and use good faith and diligent effort to obtain a written loa commitment for the Financing 64 ("Loan Commitment°) and close this Contract Buyer shall keep Sell and Broker fully informed about 65 the status of mortgage loan application and Loan Commitment a authorizes Buyer's mortgage broker 66 and Buyer's lender to disclose such status and progress to Sell nd Broker, 87 if Buyer does not receive Loan Commitment, then Buyer y terminate this Contract by delivering written 88 notice to Seller, and the Deposit shall be refunded t uyer, thereby releasing Buyer and Seller from all 89 further obligations under this Contract. 90 If Buyer does not deliver written notice to S r of receipt of Loan Commitment or Buyer's written waiver of 91 this financing contingency, then after an Commitment Date Seller may terminate this Contract by 92 delivering written notice to Buyer an a Deposit shall be refunded to Buyer, thereby releasing Buyer and 93 Seller from all further obligations der this Contract 94 If Buyer delivers written lice of receipt of Loan Commitment to Seller and this Contract does not ss thereafter close, the osit shall be paid to Seller unless failure to dose is due to: (1 ) Seller's default; 96 (2 ) Property related ndidons of the Loan Commitment have not been met (except when such conditions 97 are waived by o r provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is 98 insufficient t eet terms of the Loan Commitment; or (4 ) the loan is not funded due to financial failure of ss Buyer's I er, in which event(s) the Deposit shall be retumed to Buyer, thereby releasing Buyer a e ler _ 100 from rther obligations under this Contract 101 • ❑ (c) A mpfionpof existing mortgage (see rider for terms). 102* ❑ (d) ; Buyer's Initials Page 2 of 10 Sellers Initial FloridaReaftors1FioridaBar-ASISAI Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. T Yt j SerialR: 02077BuMM37- 4OW3 formSl; l'f1 +pfict los CLOSING COSTS, FEES AND CHARGES 104 9. CLOSING COSTS ; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 105- (a) COSTS TO BE PAID BY SELLER: • Documentary stamp taxes and surtax on deed, if any • HOA/Condominium Association estoppel fees • Owner's Policy and Charges (if Paragraph 9(c)(i) is checked) • Recording and other fees needed to cure title • Title search charges (if Paragraph 9(c)(iii) is checked) • Seller's attorneys' fees • Other: Buyer to pay all dosing costs associated with transfer of title. 106 If, prior to Closing , Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 106 Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs. Any unused portion of escrowed amount shall be returned to Seller. 110' ( b) COSTS TO BE PAID BY BUYER: • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) • Buyer's Inspections • Survey (and elevation certification , if required) • Buyer's attorneys' fees • Lender's title policy and endorsements • All property related insurance • HOA/Condominium Association application/transfer fees • Other. Buyer to pay all costs associted with transfer of title. 111 ' (c) TITLE EVIDENCE AND INSURANCE: At least (if blank, then 5) days prior to Closing Date, a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ("Trtle Commltment") and, after Closing, an owner's policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title 115 insurance covering the Real Property, a copy shall be fumished to Buyer and Closing Agent within 5 days after 116 Effective Date. The owner's title policy premium and charges for owner's policy endorsements, title search , 117 and closing services ( collectively , " Owner' s Policy and Charges") shall be paid , as set forth below 118 (CHECK ONE): 119' 120 fqkv ch ray andeFsemges 121 122- K (ii) Buyer will designate Closing Agent and pay for Owner' s Policy and Charges and charges for dosing 123 services related to Buyer's lender's policy, endorsements, and; loan closing ; or 124' 125 of title insurance or other evidence of title and pay fees for. (A) a continuation or updat a evidence, 126 which is acceptable to Buyer's title insurance underwriter for rei erage ; (B) tax search; and 127 (C) municipal lien search. Buyer shall obtain and - osing continuation and premium for Buyer's 128 owner's policy, and if applicable er's policy. Seller shall not be obligated to pay more than 120' _ 130 $ NA . 00) for abstract continuation or title search ordered or performed by Closing 131 n .. ,�) SURVEY: At least 5 days prior to Closing , Buyer may, at Buyer's expense, have the Real Property surveyed 132 (/y_ Y arid certified by a registered Florida surveyor ("Survey') . If Seller has ' a survey covering the Real Property, a 133 copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. 134• (e by lsss not icat>)e at a cost not . A home 136 rranty plan provides for re air or o a ome's mechanical systems and major built-in aaaaaaaaa 137am tall in-to mormal jusar anri tear rhypag tha agreemenCs 412.0:2.Rty pagoda 138 (f) 139 �. . �y (°public " does not include a Condominium or Homeowner's Association) that are certified , led and 140 ratified beforeso and (11) the amount of the public body's most recent estimate ment for an 141 ii66rr "" improvement which is su II complete as of Effective Date, but that h resulted in a lien being 142 imposed on the Property before C o ' Buyer will pay all other ass e s. If special assessments may 143 be paid In installments (CHECK ONE) : 144' ❑ (a) Seller shall pay installments due prior to and Buyer shall pay installments due after 145 Closing . Installments prepaid or the year shall be prorated. 146• ❑ ( b) Seller shall pay the ass s) in full prior to or at the 6 losing . 147 IF NEITHER BOX IS CHE HEN OPTION (a) SHALL BE DEEMED SEL 148 This Paragraph 9 not apply to a special benefit tax lien imposed by a community ment district 149 (CDD) pu to Chapter 190 F.S. which lien shall be treated as an ad valorem tax and prorated p t to 150 ARD K. Buyers Initials Page 3 of 10 Sellers Inirwivoorm FloridaRealtors/Flori ar-ASIS-1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar_ All rights reserved, y - sn 02077s aoota7 eaoea7s toI�Il. SI los CLOSING COSTS, FEES AND CHARGES 104 9. CLOSING COSTS ; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 105- (a) COSTS TO BE PAID BY SELLER: • Documentary stamp taxes and surtax on deed, if any • HOA/Condominium Association estoppel fees • Owner's Policy and Charges (if Paragraph 9(c)(i) is checked) • Recording and other fees needed to cure title • Title search charges (if Paragraph 9(c)(iii) is checked) • Seller's attorneys' fees • Other: Buyer to pay all dosing costs associated with transfer of title. 106 If, prior to Closing , Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 107 a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at 106 Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall 109 pay such actual costs. Any unused portion of escrowed amount shall be returned to Seller. 110' ( b) COSTS TO BE PAID BY BUYER: • Taxes and recording fees on notes and mortgages • Loan expenses • Recording fees for deed and financing statements • Appraisal fees • Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) • Buyer's Inspections • Survey (and elevation certification , if required) • Buyer's attorneys' fees • Lender's title policy and endorsements • All property related insurance • HOA/Condominium Association application/transfer fees • Other. Buyer to pay all costs associted with transfer of title. 111 ' (c) TITLE EVIDENCE AND INSURANCE: At least (if blank, then 5) days prior to Closing Date, a title 112 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 113 exceptions attached thereto ("Trtle Commltment") and, after Closing, an owner's policy of title insurance (see 114 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title 115 insurance covering the Real Property, a copy shall be fumished to Buyer and Closing Agent within 5 days after 116 Effective Date. The owner's title policy premium and charges for owner's policy endorsements, title search , 117 and closing services ( collectively , " Owner' s Policy and Charges") shall be paid , as set forth below 118 (CHECK ONE): 119' 120 fqkv ch ray andeFsemges 121 122- K (ii) Buyer will designate Closing Agent and pay for Owner' s Policy and Charges and charges for dosing 123 services related to Buyer's lender's policy, endorsements, and; loan closing ; or 124' 125 of title insurance or other evidence of title and pay fees for. (A) a continuation or updat a evidence, 126 which is acceptable to Buyer's title insurance underwriter for rei erage ; (B) tax search; and 127 (C) municipal lien search. Buyer shall obtain and - osing continuation and premium for Buyer's 128 owner's policy, and if applicable er's policy. Seller shall not be obligated to pay more than 120' _ 130 $ NA . 00) for abstract continuation or title search ordered or performed by Closing 131 n .. ,�) SURVEY: At least 5 days prior to Closing , Buyer may, at Buyer's expense, have the Real Property surveyed 132 (/y_ Y arid certified by a registered Florida surveyor ("Survey') . If Seller has ' a survey covering the Real Property, a 133 copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. 134• (e by lsss not icat>)e at a cost not . A home 136 rranty plan provides for re air or o a ome's mechanical systems and major built-in aaaaaaaaa 137am tall in-to mormal jusar anri tear rhypag tha agreemenCs 412.0:2.Rty pagoda 138 (f) 139 �. . �y (°public " does not include a Condominium or Homeowner's Association) that are certified , led and 140 ratified beforeso and (11) the amount of the public body's most recent estimate ment for an 141 ii66rr "" improvement which is su II complete as of Effective Date, but that h resulted in a lien being 142 imposed on the Property before C o ' Buyer will pay all other ass e s. If special assessments may 143 be paid In installments (CHECK ONE) : 144' ❑ (a) Seller shall pay installments due prior to and Buyer shall pay installments due after 145 Closing . Installments prepaid or the year shall be prorated. 146• ❑ ( b) Seller shall pay the ass s) in full prior to or at the 6 losing . 147 IF NEITHER BOX IS CHE HEN OPTION (a) SHALL BE DEEMED SEL 148 This Paragraph 9 not apply to a special benefit tax lien imposed by a community ment district 149 (CDD) pu to Chapter 190 F.S. which lien shall be treated as an ad valorem tax and prorated p t to 150 ARD K. Buyers Initials Page 3 of 10 Sellers Inirwivoorm FloridaRealtors/Flori ar-ASIS-1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar_ All rights reserved, y - sn 02077s aoota7 eaoea7s toI�Il. SI CONDITIONS 1 , DEFINITION OF TERMS purchase , lease , or lend if there is a contractual condition requiring The following terms when used in this policy mean : the delivery of marketable title . ( a ) "Amount of Insurance " : The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased 2 . CONTINUATION OF INSURANCE by Section 8( b), or decreased by Sections 10 and 11 of these Conditions . The coverage of this policy shall continue in force as of Date of ( b ) " Date of Policy" : The date designated as " Date of Policy" in Policy in favor of an Insured , but only so long as the Insured retains Schedule A. an estate or interest in the Land , or holds an obligation secured by ( c ) " Entity' : A corporation , partnership , trust, limited liability a purchase money Mortgage given by a purchaser from the Insured , company, or other similar legal entity . or only so long as the Insured shall have liability by reason of ( d ) " Insured " : The Insured named in Schedule A . warranties in any transfer or conveyance of the Title . This policy shall not continue in force in favor of any purchaser from the ( i ) The term " Insured " also includes Insured of either ( i ) an estate or interest in the Land , or ( ii ) an (A) successors to the Title of the Insured by operation of law as obligation secured by a purchase money Mortgage given to the distinguished from purchase , including heirs, devisees , survivors, Insured . personal representatives , or next of kin ; ( B ) successors to an Insured by dissolution , merger, consolidation , 3 . NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT distribution , or reorganization , The Insured shall notify the Company promptly in writing ( i ) in case ( C ) successors to an Insured by its conversion to another kind of of any litigation as set forth in Section 5( a ) of these Conditions , ( ii ) Entity; in case Knowledge shall come to an Insured hereunder of any claim ( D ) a grantee of an Insured under a deed delivered without of title or interest that is adverse to the Title , as insured , and that payment of actual valuable consideration conveying the Title might cause loss or damage for which the Company may be liable ( 1 ) if the stock, shares , memberships , or other equity by virtue of this policy, or ( iii ) if the Title , as insured , is rejected as interests of the grantee are wholly- owned by the Unmarketable Title . If the Company is prejudiced by the failure of named Insured , the Insured Claimant to provide prompt notice , the Company's liability to the Insured Claimant under the policy shall be reduced ( 2 ) if the grantee wholly owns the named Insured , to the extent of the prejudice . ( 3 ) if the grantee is wholly- owned by an affiliated Entity of the named Insured , provided the affiliated 4 . PROOF OF LOSS Entity and the named Insured are both wholly-owned In the event the Company is unable to determine the amount of by the same person or Entity, or loss or damage, the Company may, at its option , require as a condition ( 4) if the grantee is a trustee or beneficiary of a trust of payment that the Insured Claimant furnish a signed proof of loss , created by a written instrument established by the The proof of loss must describe the defect, lien , encumbrance , or Insured named in Schedule A for estate planning other matter insured against by this policy that constitutes the purposes . basis of loss or damage and shall state , to the extent possible , the ( ii ) With regard to (A), ( B ►, ( C ), and ( D ) reserving , however, all rights basis of calculating the amount of the loss or damage . and defenses as to any successor that the Company would have had against any predecessor Insured . 5. DEFENSE AND PROSECUTION OF ACTIONS ( a ) Upon written request by the Insured , and subject to the options ( e ) " Insured Claimant " : or Insured claiming loss or damage . ( contained in Section 7 of these Conditions , the Company, at its f) " Knowledge " or " Known " : Actual knowledge , not constructive knowledge or notice that may be imputed to an Insured by reason of own cost and without unreasonable delay, shall provide for the the Public Records or any other records that impart constructive defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation notice of matters affecting the Title . is limited to only those stated causes of action alleging matters ( g ) " Land " : The land described in Schedule A, and affixed improvements insured against by this policy. The Company shall have the right to that by law constitute real property . The term " Land " does not select counsel of its choice (subject to the right of the Insured to include any property beyond the lines of the area described in object for reasonable cause ) to represent the Insured as to those Schedule A, nor any right, title , interest, estate , or easement in stated causes of action . It shall not be liable for and will not pay abutting streets , roads , avenues , alleys , lanes , ways , or waterways , the fees of any other counsel . The Company will not pay any fees, but this does not modify or limit the extent that a right of access to costs, or expenses incurred by the Insured in the defense of those and from the Land is insured by this policy. causes of action that allege matters not insured against by this policy. ( h ) " Mortgage " : Mortgage , deed of trust , trust deed , or other security ( b) The Company shall have the right, in addition to the options instrument, including one evidenced by electronic means authorized contained in Section 7 of these Conditions , at its own cost, to by law. institute and prosecute any action or proceeding or to do any ( i ) " Public Records " : Records established under state statutes at other act that in its opinion may be necessary or desirable to Date of Policy for the purpose of imparting constructive notice of establish the Title , as insured , or to prevent or reduce loss or matters relating to real property to purchasers for value and without damage to the Insured . The Company may take any appropriate action under the terms of this policy, whether or not it shall be Knowledge . With respect to Covered Risk 5( d ), " Public Records " liable to the Insured . The exercise of these rights shall not be an shall also include environmental protection liens filed in the records admission of liability or waiver of any provision of this policy. of the clerk of the United States District Court for the district where If the Company exercises its rights under this subsection , it must the Land is located . do so diligently. (j ) "Title " : The estate or interest described in Schedule A. (c ) Whenever the Company brings an action or asserts a defense ( k) " Unmarketable Title " : Title affected by an alleged or apparent as required or permitted by this policy, the Company may pursue matter that would permit a prospective purchaser or lessee of the the litigation to a final determination by a court of competent Title or lender on the Title to be released from the obligation to jurisdiction , and it expressly reserves the right, in its sole ORT Form 4309 FL discretion , to appeal any adverse judgment or order. ALTA Owners Policy of Title Insurance 6. 17.06 (with Florida Modifications) Page 3 CONDITIONS (con 't) 6 . DUTY OF INSURED CLAIMANT TO COOPERATE policy . In addition , the Company will pay any costs , attorneys ' fees , ( a ) In all cases where this policy permits or requires the Company and expenses incurred by the Insured Claimant that were authorized to prosecute or provide for the defense of any action or proceeding by the Company up to the time of payment and that the Company is and any appeals , the Insured shall secure to the Company the right obligated to pay; or to so prosecute or provide defense in the action or proceeding , ( ii ) to pay or otherwise settle with the Insured Claimant the loss or including the right to use , at its option , the name of the Insured for damage provided for under this policy, together with any costs, this purpose . Whenever requested by the Company, the Insured , attorneys ' fees , and expenses incurred by the Insured Claimant that at the Company' s expense , shall give the Company all reasonable were authorized by the Company up to the time of payment and that aid ( i ) in securing evidence , obtaining witnesses , prosecuting or the Company is obligated to pay. defending the action or proceeding , or effecting settlement, and ( ii ) in any other lawful act that in the opinion of the Company may Upon the exercise by the Company of either of the options provided be necessary or desirable to establish the Title or any other matter for in subsections ( b)( i ) or ( ii ), the Company' s obligations to the as insured . If the Company is prejudiced by the failure of the Insured under this policy for the claimed loss or damage, other than Insured to furnish the required cooperation , the Company's obligations the payments required to be made , shall terminate , including any to the Insured under the policy shall terminate , including any liability or obligation to defend , prosecute , or continue any liability or obligation to defend , prosecute, or continue any litigation , litigation . with regard to the matter or matters requiring such cooperation . ( b ) The Company may reasonably require the Insured Claimant to g, DETERMINATION AND EXTENT OF LIABILITY submit to examination under oath by any authorized representative This policy is a contract of indemnity against actual monetary loss or of the Company and to produce for examination , inspection , and damage sustained or incurred by the Insured Claimant who has suffered copying , at such reasonable times and places as may be designated loss or damage by reason of matters insured against by this policy. by the authorized representative of the Company, all records, in ( a ) The extent of liability of the Company for loss or damage under whatever medium maintained , including books , ledgers , checks, this policy shall not exceed the lesser of memoranda , correspondence , reports , e- mails , disks , tapes , and ( i ) the Amount of Insurance ; or videos whether bearing a date before or after Date of Policy, that ( ii ) the difference between the value of the Title as insured and the reasonably pertain to the loss or damage . Further, if requested by value of the Title subject to the risk insured against by this policy. any authorized representative of the Company, the Insured Claimant ( b ) If the Company pursues its rights under Section 5 of these shall grant its permission, in writing , for any authorized representative Conditions and is unsuccessful in establishing the Title , as insured , of the Company to examine , inspect , and copy all of these records ( i ) the Amount of Insurance shall be increased by 10 % . and in the custody or control of a third party that reasonably pertain to ( ii ) the Insured Claimant shall have the right to have the loss or the loss or damage . All information designated as confidential by damage determined either as of the date the claim was made by the Insured Claimant provided to the Company pursuant to this the Insured Claimant or as of the date it is settled and paid . Section shall not be disclosed to others unless , in the reasonable ( c ) In addition to the extent of liability under ( a ) and ( b), the Company judgment of the Company, it is necessary in the administration of will also pay those costs, attorneys ' fees , and expenses incurred in the claim . Failure of the Insured Claimant to submit for examination accordance with Sections 5 and 7 of these Conditions . under oath , produce any reasonably requested information , or grant permission to secure reasonably necessary information from g, LIMITATION OF LIABILITY third parties as required in this subsection , unless prohibited by ( a ) If the Company establishes the Title , or removes the alleged law or governmental regulation , shall terminate any liability of the defect, lien , or encumbrance , or cures the lack of a right of access Company under this policy as to that claim . to or from the Land , or cures the claim of Unmarketable Title , all as insured , in a reasonably diligent manner by any method , including 7 . OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; litigation and the completion of any appeals , it shall have fully TERMINATION OF LIABILITY performed its obligations with respect to that matter and shall not In case of a claim under this policy, the Company shall have the be liable for any loss or damage caused to the Insured . following additional options : ( b) In the event of any litigation , including litigation by the Company ( a ) To Pay or Tender Payment of the Amount of Insurance , or with the Company' s consent, the Company shall have no liability To pay or tender payment of the Amount of Insurance under this for loss or damage until there has been a final determination by a policy together with any costs , attorneys' fees , and expenses court of competent jurisdiction , and disposition of all appeals , incurred by the Insured Claimant that were authorized by the adverse to the Title , as insured . Company up to the time of payment or tender of payment and that ( c ) The Company shall not be liable for loss or damage to the the Company is obligated to pay . Insured for liability voluntarily assumed by the Insured in settling Upon the exercise by the Company of this option , all liability and any claim or suit without the prior written consent of the Company. obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection , shall terminate, 10 . REDUCTION OF INSURANCE; REDUCTION OR TERMINATION including any liability or obligation to defend , prosecute , or contin- OF LIABILITY ue any litigation . All payments under this policy, except payments made for costs , ( b) To Pay or Otherwise Settle With Parties Other Than the Insured attorneys ' fees , and expenses , shall reduce the Amount of Insurance or With the Insured Claimant. by the amount of the payment. ( i ) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this ORT Form 4309 FL ALTA Owners Policy of Title Insurance 6.17.06 (with Florida Modifications) Page 4 151 DISCLOSURES 152 10, DISCLOSURES: I53 (a) RADON GAS : Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida . Additional information regarding 156 radon and radon testing may be obtained from your county health department. 1 ,57 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, Ise Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed. 160 (c) MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or 161 desires additional information regarding mold, Buyer should contact an appropriate professional. 162 (d) FLOOD ZONE ; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in , whether flood insurance is required by Buyer's lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area" 165 or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days atter Effective Date, failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property. 168 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 169 required by Section 553 . 996, F.S. 170 (f) LEAD-BASED PAINT: If Property includes pre- 1978 residential housing , a lead-based paint rider is 171 mandatory. 172 (g ) HOMEOWNERS ' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS IIs CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS ' 174 ASSOCIAMONICOMMUNITY DISCLOSURE, IF APPLICABLE. 175 (h ) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY 1N THE YEAR SUBSEQUENT TO PURCHASE, A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES . IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE 160 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 181 (i ) TAX WITHHOLDING: If Seller is a °foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act ("FIRPTA°), Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at :Closing. 184 Q) SELLER DISCLOSURE : Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in the preceding sentence 186 or otherwise disclosed in writing: ( 1 ) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building , environmental or safety code violation ; and (2) Seller 188 extends and intends no warranty and makes no representation of any type, either express or implied , as to the 189 physical condition or history of the Property. 190 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS 191 11 . PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss,. Seller shall maintain the 192 Property, including , but not limited to, )awn, shrubbery, and pool, in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement°). 194 12. PROPERTY INSPECTION; RIGHT TO CANCEL: 195• (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have NA (If blank, 75) days from I96 Effecdve Date ("Inspection Period") within which to have such Inspections of the Property performed 197 as Buyer shall desire during the Inspection Period. If Buyer determ/nes, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract; however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such Inspections, and shall provide Seller with paid recelpts for all wont done on the 204 Property (the preceding provision shall survive tsnninadon of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmentai, and safety codes, restrictions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender. Buyer's initials Page 4 of 10 Seller's Initial FloridaRealtors/Florida r ASIS-1 Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. - senatx 0207704MOT448"77 � _ ft)1'lll 8113.1 11 0 151 DISCLOSURES 152 10, DISCLOSURES: I53 (a) RADON GAS : Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in 154 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida . Additional information regarding 156 radon and radon testing may be obtained from your county health department. 1 ,57 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, Ise Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed. 160 (c) MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or 161 desires additional information regarding mold, Buyer should contact an appropriate professional. 162 (d) FLOOD ZONE ; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood 163 zone the Property is in , whether flood insurance is required by Buyer's lender, and what restrictions apply to 164 improving the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area" 165 or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may 166 terminate this Contract by delivering written notice to Seller within 20 days atter Effective Date, failing which 167 Buyer accepts existing elevation of buildings and flood zone designation of Property. 168 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 169 required by Section 553 . 996, F.S. 170 (f) LEAD-BASED PAINT: If Property includes pre- 1978 residential housing , a lead-based paint rider is 171 mandatory. 172 (g ) HOMEOWNERS ' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS IIs CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS ' 174 ASSOCIAMONICOMMUNITY DISCLOSURE, IF APPLICABLE. 175 (h ) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT 176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY 1N THE YEAR SUBSEQUENT TO PURCHASE, A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 179 PROPERTY TAXES . IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE 160 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 181 (i ) TAX WITHHOLDING: If Seller is a °foreign person" as defined by the Foreign Investment in Real Property Tax 182 Act ("FIRPTA°), Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash 183 at :Closing. 184 Q) SELLER DISCLOSURE : Seller knows of no facts materially affecting the value of the Real Property which are 185 not readily observable and which have not been disclosed to Buyer. Except as stated in the preceding sentence 186 or otherwise disclosed in writing: ( 1 ) Seller has received no written or verbal notice from any governmental 187 entity or agency as to a currently uncorrected building , environmental or safety code violation ; and (2) Seller 188 extends and intends no warranty and makes no representation of any type, either express or implied , as to the 189 physical condition or history of the Property. 190 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS 191 11 . PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss,. Seller shall maintain the 192 Property, including , but not limited to, )awn, shrubbery, and pool, in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement°). 194 12. PROPERTY INSPECTION; RIGHT TO CANCEL: 195• (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have NA (If blank, 75) days from I96 Effecdve Date ("Inspection Period") within which to have such Inspections of the Property performed 197 as Buyer shall desire during the Inspection Period. If Buyer determ/nes, in Buyer's sole discretion, that 198 the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice 199 of such election to Seller prior to expiration of inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under this Contract; however, Buyer shall be responsible for 202 prompt payment for such inspections, for repair of damage to, and restoration of, the Property 203 resulting from such Inspections, and shall provide Seller with paid recelpts for all wont done on the 204 Property (the preceding provision shall survive tsnninadon of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Property and any 206 violation of governmental, building, environmentai, and safety codes, restrictions, or requirements, but 207 subject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any 208 and all repairs and improvements required by Buyer's lender. Buyer's initials Page 4 of 10 Seller's Initial FloridaRealtors/Florida r ASIS-1 Rev. 6/10 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. - senatx 0207704MOT448"77 � _ ft)1'lll 8113.1 11 0 209 (b) WALK THROUGH INSPECTIONIRE4NSPECTION: On the day prior to Closing Date, or on Closing Date prior 210 to time of Closing , as specified by Buyer, Buyer or Buyer's representative may perform a walk-through (and 211 follow-up walk through, if necessary) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations. 214 (c) SELLER ASSISTANCE AND COOPERATION iN CLOSE-OUT OF BUILDING PERMITS : If Buyer's 215 inspection of the Property identifies open or needed building permits, then Seller shall promptly deliver to 216 Buyer all plans, written documentation or other information in Seller's possession , knowledge, or control 217 relating to improvements to the Property which are the subject of such open or needed Permits, and shall 218 promptly cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary 220 authorizations, consents, or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared, but in fulfilling such obligation, Seller shall not be required to expend , or 222 become obligated to expend , any money. 223 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and 224 cost, Seiler will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 225 t0 Buyer. 226 ESCROW AGENT AND BROKER " 227 13. ES OW AGENT: Any Closing Agent or Escrow Agent (collectively °Agent") receiving the Deposit, oth r fu S 228 and o items is authorized , and agrees by acceptance of them, to deposit them promptly, hold same in e w 229 within th State of Florida and, subject to COLLECTION , disburse them in accordance with terms and ditions 230 of this Con ct. Failure of funds to become COLLECTED shall not excuse Buyer's performance. lNhe nfiicting 231 demands for a Deposit are received , or Agent has a good faith doubt as to entitlement to the posit, Agent 232 may take such a 'ons permitted by this Paragraph 13, as Agent deems advisable. If in doubt as Agents duties 233 or liabilities . under s Contract, Agent may, at Agents option, continue to hold the subject r of the escrow 234 until the parties a' to its disbursement or until a final judgment of a court of com ent jurisdiction shalt 235 determine the rights of parties, or Agent may deposit same with the clerk of the circus urt having jurisdiction 236 of the dispute. An attome ho represents a party and also acts as Agent may r sent such party in such 237 action . Upon notifying all pa concerned of such action , all liability on the part Agent shall fully terminate, 238 except to the extent of accoun for any items previously delivered out of crow. If a licensed real estate 239 broker, Agent will comply with pro ' ions of Chapter 475, F.S. , as amende and FREC rules to timely resolve 240 escrow disputes through media t n , arbitration , interpleader o an escrow disbursement order. 241 Any proceeding between Buyer and Sell wherein Agent is made a pa because of acting as Agent hereunder, 242 or in any proceeding where Agent interpI s the subject matter of a escrow, Agent shall recover reasonable 243 attorney's fees and costs incurred, to be paiursuant to court er out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person fo is-delivery any escrowed items, unless such mis-delivery is 245 due to Agents willful breach of this Contract or Ag s gross egligence. This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE; BROKER LIABILITY: B advises Buyer and Seller to verify Property condition , 248 square footage, and all other facts and representado m ursuant to this Contract and to consult appropriate 249 professionals for legal, tax, environmental, and o r specializ advice concerning matters affecting the Property 250 and the transaction contemplated by this Con Broker repr is to Buyer that Broker does not reside on the 251 Property and that all representations (oral, n or otherwise) by ker are based on Seller representations or 252 public records. BUYER AGREES TO LY SOLELY ON SELL PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR RIFICATiON OF PROPERTY DITION, SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFF PROPERTY VALUE AND NOT O E REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE) BROKER. Buyer and Seller (individual the "Indemnifying Party") each 256 individually indemnifies, hold awnless, and releases Broker and Broker's roers, directors, agents and 257 employees from all liability loss or damage, including all costs and expenses, ::a reasonable attorney's fees 258 at all levels, suffered or i rred by Broker and Broker's officers, directors, agents an mployees in connection 259 with or arising from cl ' s, demands or causes of action instituted by Buyer or Seller ba on: (i) inaccuracy of 26o information provid y the Indemnifying Party or from public records; (ii) Indemnifying Party misstatement(s) or 261 failure to perfo ntractual obligations; (iii) Broker's performance, at Indemnifying Party's r est, of any task 262 beyond the pe of services regulated by Chapter 475, F.S. , as amended , including B er's referral, 263 recommen on or retention of any vendor for, or on behalf of, Indemnifying Party; (iv) produ Is services 264 provid y any such vendor for, or on behalf of, Indemnifying Party ; and (v) expenses incurred by ny such 265 vend . Buyer and Seller each assumes full responsibility for selecting and compensating their respective dors 266 an aying their other costs under this Contract whether or not this transaction closes. This Paragraph 14 wi of 267 ieve Broker of statutory obligations under Chapter 475, F.S. , as amended . For purposes of this Paragraph Buyers Initials 00*4 � Page 5 of 10 Seller's Initial FroridaReaftorslFtondaBar-ASIS-1 Rev. 6110 ® 2010 Florida Reallors® and The Florida Bar. All rights reserved. SOrWW �2W78�001378405477 i'orrin sinip tii 209 (b) WALK THROUGH INSPECTIONIRE4NSPECTION: On the day prior to Closing Date, or on Closing Date prior 210 to time of Closing , as specified by Buyer, Buyer or Buyer's representative may perform a walk-through (and 211 follow-up walk through, if necessary) inspection of the Property solely to confirm that all items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations. 214 (c) SELLER ASSISTANCE AND COOPERATION iN CLOSE-OUT OF BUILDING PERMITS : If Buyer's 215 inspection of the Property identifies open or needed building permits, then Seller shall promptly deliver to 216 Buyer all plans, written documentation or other information in Seller's possession , knowledge, or control 217 relating to improvements to the Property which are the subject of such open or needed Permits, and shall 218 promptly cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to 219 resolve such Permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary 220 authorizations, consents, or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared, but in fulfilling such obligation, Seller shall not be required to expend , or 222 become obligated to expend , any money. 223 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and 224 cost, Seiler will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 225 t0 Buyer. 226 ESCROW AGENT AND BROKER " 227 13. ES OW AGENT: Any Closing Agent or Escrow Agent (collectively °Agent") receiving the Deposit, oth r fu S 228 and o items is authorized , and agrees by acceptance of them, to deposit them promptly, hold same in e w 229 within th State of Florida and, subject to COLLECTION , disburse them in accordance with terms and ditions 230 of this Con ct. Failure of funds to become COLLECTED shall not excuse Buyer's performance. lNhe nfiicting 231 demands for a Deposit are received , or Agent has a good faith doubt as to entitlement to the posit, Agent 232 may take such a 'ons permitted by this Paragraph 13, as Agent deems advisable. If in doubt as Agents duties 233 or liabilities . under s Contract, Agent may, at Agents option, continue to hold the subject r of the escrow 234 until the parties a' to its disbursement or until a final judgment of a court of com ent jurisdiction shalt 235 determine the rights of parties, or Agent may deposit same with the clerk of the circus urt having jurisdiction 236 of the dispute. An attome ho represents a party and also acts as Agent may r sent such party in such 237 action . Upon notifying all pa concerned of such action , all liability on the part Agent shall fully terminate, 238 except to the extent of accoun for any items previously delivered out of crow. If a licensed real estate 239 broker, Agent will comply with pro ' ions of Chapter 475, F.S. , as amende and FREC rules to timely resolve 240 escrow disputes through media t n , arbitration , interpleader o an escrow disbursement order. 241 Any proceeding between Buyer and Sell wherein Agent is made a pa because of acting as Agent hereunder, 242 or in any proceeding where Agent interpI s the subject matter of a escrow, Agent shall recover reasonable 243 attorney's fees and costs incurred, to be paiursuant to court er out of the escrowed funds or equivalent. 244 Agent shall not be liable to any party or person fo is-delivery any escrowed items, unless such mis-delivery is 245 due to Agents willful breach of this Contract or Ag s gross egligence. This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE; BROKER LIABILITY: B advises Buyer and Seller to verify Property condition , 248 square footage, and all other facts and representado m ursuant to this Contract and to consult appropriate 249 professionals for legal, tax, environmental, and o r specializ advice concerning matters affecting the Property 250 and the transaction contemplated by this Con Broker repr is to Buyer that Broker does not reside on the 251 Property and that all representations (oral, n or otherwise) by ker are based on Seller representations or 252 public records. BUYER AGREES TO LY SOLELY ON SELL PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR RIFICATiON OF PROPERTY DITION, SQUARE FOOTAGE AND 254 FACTS THAT MATERIALLY AFF PROPERTY VALUE AND NOT O E REPRESENTATIONS (ORAL, 255 WRITTEN OR OTHERWISE) BROKER. Buyer and Seller (individual the "Indemnifying Party") each 256 individually indemnifies, hold awnless, and releases Broker and Broker's roers, directors, agents and 257 employees from all liability loss or damage, including all costs and expenses, ::a reasonable attorney's fees 258 at all levels, suffered or i rred by Broker and Broker's officers, directors, agents an mployees in connection 259 with or arising from cl ' s, demands or causes of action instituted by Buyer or Seller ba on: (i) inaccuracy of 26o information provid y the Indemnifying Party or from public records; (ii) Indemnifying Party misstatement(s) or 261 failure to perfo ntractual obligations; (iii) Broker's performance, at Indemnifying Party's r est, of any task 262 beyond the pe of services regulated by Chapter 475, F.S. , as amended , including B er's referral, 263 recommen on or retention of any vendor for, or on behalf of, Indemnifying Party; (iv) produ Is services 264 provid y any such vendor for, or on behalf of, Indemnifying Party ; and (v) expenses incurred by ny such 265 vend . Buyer and Seller each assumes full responsibility for selecting and compensating their respective dors 266 an aying their other costs under this Contract whether or not this transaction closes. This Paragraph 14 wi of 267 ieve Broker of statutory obligations under Chapter 475, F.S. , as amended . For purposes of this Paragraph Buyers Initials 00*4 � Page 5 of 10 Seller's Initial FroridaReaftorslFtondaBar-ASIS-1 Rev. 6110 ® 2010 Florida Reallors® and The Florida Bar. All rights reserved. SOrWW �2W78�001378405477 i'orrin sinip tii CONDITIONS ( con 't) 11 . LIABILITY NONCUMULATIVE 15 , LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE The Amount of Insurance shall be reduced by any amount the Company CONTRACT pays under any policy insuring a Mortgage to which exception is taken ( a ) This policy together with all endorsements , if any, attached to it in Schedule B or to which the Insured has agreed , assumed , or taken by the Company is the entire policy and contract between the subject, or which is executed by an Insured after Date of Policy and Insured and the Company. In interpreting any provision of this which is a charge or lien on the Title , and the amount so paid shall be policy, this policy shall be construed as a whole . deemed a payment to the Insured under this policy. ( b ) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim whether or not based on 12 . PAYMENT OF LOSS negligence shall be restricted to this policy. When liability and the extent of loss or damage have been definitely ( c ) Any amendment of or endorsement to this policy must be in fixed in accordance with these Conditions , the payment shall be made writing and authenticated by an authorized person , or expressly within 30 days . incorporated by Schedule A of this policy. ( d ) Each endorsement to this policy issued at any time is made a 13 . RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT part of this policy and is subject to all of its terms and provisions . ( a ) Whenever the Company shall have settled and paid a claim Except as the endorsement expressly states , it does not ( i ) modify under this policy, it shall be subrogated and entitled to the rights of any of the terms and provisions of the policy, ( ii ) modify any prior the Insured Claimant in the Title and all other rights and remedies endorsement, ( iii ) extend the Date of Policy, or ( iv) increase the in respect to the claim that the Insured Claimant has against any Amount of Insurance . person or property, to the extent of the amount of any loss , costs , attorneys ' fees , and expenses paid by the Company. If requested 16 . SEVERABILITY by the Company, the Insured Claimant shall execute documents to In the event any provision of this policy, in whole or in part, is held evidence the transfer to the Company of these rights and remedies . invalid or unenforceable under applicable law, the policy shall be The Insured Claimant shall permit the Company to sue , compromise , deemed not to include that provision or such part held to be invalid , but or settle in the name of the Insured Claimant and to use the name all other provisions shall remain in full force and effect. of the Insured Claimant in any transaction or litigation involving these rights and remedies . 17 . CHOICE OF LAW; FORUM If a payment on account of a claim does not fully cover the loss of ( a ) Choice of Law: The Insured acknowledges the Company has the Insured Claimant, the Company shall defer the exercise of its underwritten the risks covered by this policy and determined the right to recover until after the Insured Claimant shall have recovered premium charged therefor in reliance upon the law affecting interests its loss , in real property and applicable to the interpretation, rights, remedies , ( b) The Company' s right of subrogation includes the rights of the or enforcement of policies of title insurance of the jurisdiction Insured to indemnities , guaranties , other policies of insurance , or where the Land is located . bonds , notwithstanding any terms or conditions contained in those Therefore , the court or an arbitrator shall apply the law of the instruments that address subrogation rights . jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to 14 . ARBITRATION interpret and enforce the terms of this policy. In neither case shall Unless prohibited by applicable law, arbitration pursuant tothe Title the court or arbitrator apply its conflicts of law principles to deter- Insurance Arbitration Rules of the American Arbitration Association mine the applicable law. may be demanded if agreed to by both the Company and the Insured at ( b) Choice of Forum : Any litigation or other proceeding brought by the time of a controversy or claim . Arbitrable matters may include , but the Insured against the Company must be filed only in a state or are not limited to , any controversy or claim between the Company and federal court within the United States of America or its territories the Insured arising out of or relating to this policy, and service of the having appropriate jurisdiction . Company in connection with its issuance or the breach of a policy provision or other obligation . Arbitration pursuant to this policy and 18 . NOTICES, WHERE SENT under the Rules in effect on the date the demand for arbitration is Any notice of claim and any other notice or statement in writing made or, at the option of the Insured , the Rules in effect at Date of required to be given to the Company under this policy must be given to Policy shall be binding upon the parties . The award may include the Company at 400 Second Avenue South , Minneapolis , attorneys' fees only if the laws of the state in which the Land is Minnesota 55401 -2499, Phone : 612-371 - 1111 . located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator( s ) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules . A copy of the Rules may be obtained from the Company upon request . ORT Form 4309 FL ALTA Owners Policy of Title Insurance 6-17.06 (with Florida Modifications) Page 5 Cd in it I in inner w A " o � tcn `� w c� , Ilel 4 A A r�In In In y •p � . �' r� i.. p Iwo III A O N yam,, W a C in nl4ne cd �+ y a in ra CJ y .. sm In Ile I ad `sem �, O CVC PLOen I 00 4M4 cn th in ilinO cqj it a y 0�0 a Q^ O N O It 1,It 0 0bb 00 O kn u o cd o p in a ,may p o O 4 �--i Q+ 00 in v Cq N Cd In !� a I in c4 . 0 3 O N 0cd ct O �, I 'll I I In it Z A� W N M cid a° 2656 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 2659 Contract 270 DEFAULT AND DISPUTE RESOLUTION 271 15. DEFAULT. 272 (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer' s obligations under this Contract, 273 including payment of the Deposit, within the time(s) specified , Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this 275 Contract, and in full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity 277 to enforce Seller's rights under this Contract The portion of the Deposit, if any, paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker, provided however, 279 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's title marketable after 282 reasonable diligent effort, Seller fails, neglects or refuses to perform Seller's obligations under this Contract, 283 Buyer may elect to receive return of Buyer's Deposit without thereby waiving any aeon for damages resulting 284 from Seller's breach , and , pursuant to Paragraph 16, may seek to recover such damages or seek specific 285 performance. This Paragraph 15 shall survive Closing or termination of this Contract 286 16 . DISPUTE RESOLUTION : Unresolved controversies, claims and other matters in question between Buyer and 287 Seller arising out of, or relating to, this Contract or its breach , enforcement or interpretation (" Dispute") will be 288 settled as follows: 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute, failing which , Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16(b). 292 (b) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court Appointed Mediators and Chapter 44, F.S. , as amended (the "Mediation Rules") . 294 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 295 sought without first complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 16 297 shall survive Closing or termination of this Contract 298 17 . ATTORNEY'S FEES; COSTS : The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs, expenses and fees, including attorney's fees, incurred in 300 conducting the mediation. In any litigation permitted by this Contract, the prevailing party shalt be entitled to 301 recover from the non-prevailing party costs and fees, including reasonable attorney's fees, incurred in conducting 302 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") 304 18. STANDARDS: 305 A. TITLE : 306 () TITLE EVIDENCE ; RESTRICTIONS ; EASEMENTS ; LIMITATIONS : Within the time period provided in 307 Paragraph 9(c), the Tide Commitment, with legible copies of instruments listed as exceptions attached thereto, shall 3oa be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner's policy of tide insurance in the wo amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property, 311 subject only to the following matters: (a) comprehensive land use plans, zoning , and other land use restrictions, 312 prohibitions and requirements imposed by governmental authority, (b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision ; (c) outstanding oil, gas and mineral rights of record without right of entry; 314 (d ) unplatted public utility easements of record (located contiguous to real property lines and not more than 10 feet in 3165 width as to rear or front lines and 7 112 feet in width as to side lines); (e) taxes for year of Closing and subsequent 3165 years; and (f) assumed mortgages and purchase money mortgages, if any (if additional items, attach addendum); 317 provided , that none prevent use of the Property for RESIDENTIAL PURPOSES. If there exists at Closing any 318 violation of items identified in (b) - (f) above, then the same shall be deemed a title defect Marketable tide shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and In accordance with 320 law. + 321 (H) TITLE EXAMINATION : Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s) , if any, that render title unmarketable. If Seller provides Tide Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days CCure Period") 325 after receipt of Buyer's notice to take reasonable diligent efforts to remove defects. If Buyer fails to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period , S Her will Buyer's Initials Page 6 of 10 Seller's Inti Florid aReakors/FloddaBar-ASI84 Rev. 6110 0 2010 Florida Realtors® and The Florida Bar. All rights reserved. SW12W M718400137 4406473 forms p (C ,' 2656 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this 2659 Contract 270 DEFAULT AND DISPUTE RESOLUTION 271 15. DEFAULT. 272 (a) BUYER DEFAULT: If Buyer fails, neglects or refuses to perform Buyer' s obligations under this Contract, 273 including payment of the Deposit, within the time(s) specified , Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this 275 Contract, and in full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity 277 to enforce Seller's rights under this Contract The portion of the Deposit, if any, paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker, provided however, 279 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's title marketable after 282 reasonable diligent effort, Seller fails, neglects or refuses to perform Seller's obligations under this Contract, 283 Buyer may elect to receive return of Buyer's Deposit without thereby waiving any aeon for damages resulting 284 from Seller's breach , and , pursuant to Paragraph 16, may seek to recover such damages or seek specific 285 performance. This Paragraph 15 shall survive Closing or termination of this Contract 286 16 . DISPUTE RESOLUTION : Unresolved controversies, claims and other matters in question between Buyer and 287 Seller arising out of, or relating to, this Contract or its breach , enforcement or interpretation (" Dispute") will be 288 settled as follows: 289 (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute, failing which , Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16(b). 292 (b) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida 293 Rules for Certified and Court Appointed Mediators and Chapter 44, F.S. , as amended (the "Mediation Rules") . 294 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 295 sought without first complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16 296 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph 16 297 shall survive Closing or termination of this Contract 298 17 . ATTORNEY'S FEES; COSTS : The parties will split equally any mediation fee incurred in any mediation permitted 299 by this Contract, and each party will pay their own costs, expenses and fees, including attorney's fees, incurred in 300 conducting the mediation. In any litigation permitted by this Contract, the prevailing party shalt be entitled to 301 recover from the non-prevailing party costs and fees, including reasonable attorney's fees, incurred in conducting 302 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract 303 STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") 304 18. STANDARDS: 305 A. TITLE : 306 () TITLE EVIDENCE ; RESTRICTIONS ; EASEMENTS ; LIMITATIONS : Within the time period provided in 307 Paragraph 9(c), the Tide Commitment, with legible copies of instruments listed as exceptions attached thereto, shall 3oa be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner's policy of tide insurance in the wo amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property, 311 subject only to the following matters: (a) comprehensive land use plans, zoning , and other land use restrictions, 312 prohibitions and requirements imposed by governmental authority, (b) restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision ; (c) outstanding oil, gas and mineral rights of record without right of entry; 314 (d ) unplatted public utility easements of record (located contiguous to real property lines and not more than 10 feet in 3165 width as to rear or front lines and 7 112 feet in width as to side lines); (e) taxes for year of Closing and subsequent 3165 years; and (f) assumed mortgages and purchase money mortgages, if any (if additional items, attach addendum); 317 provided , that none prevent use of the Property for RESIDENTIAL PURPOSES. If there exists at Closing any 318 violation of items identified in (b) - (f) above, then the same shall be deemed a title defect Marketable tide shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and In accordance with 320 law. + 321 (H) TITLE EXAMINATION : Buyer shall have 5 days after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s) , if any, that render title unmarketable. If Seller provides Tide Commitment and it 323 is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days CCure Period") 325 after receipt of Buyer's notice to take reasonable diligent efforts to remove defects. If Buyer fails to so notify Seller, 326 Buyer shall be deemed to have accepted title as it then is. If Seller cures defects within Cure Period , S Her will Buyer's Initials Page 6 of 10 Seller's Inti Florid aReakors/FloddaBar-ASI84 Rev. 6110 0 2010 Florida Realtors® and The Florida Bar. All rights reserved. SW12W M718400137 4406473 forms p (C ,' 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt of Sellers 3w notice) . If Seller is unable to cure defects within Cure Period , then Buyer may, within 5 days after expiration of 331 Cure Period, deliver written notice to Seller. (a) extending Cure Period for a specified period not to -exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects ("Extended Cure 333 Period") ; or (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed , within the earlier of 10 days after end of Extended Cure Period or Buyer's receipt of Seller's notice), or 335 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby . releasing Buyer and Seller from 336 all further obligations under this Contract If after reasonable diligent effort, Seller is unable to timely cure defects, 337 and Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 34o encroach on setback lines, easements, or lands of others; or violate any restrictions, covenants, or applicable 341 governmental regulations described in STANDARD A (i)(a ), (b) or (d) above, Buyer shall deliver written notice of such 342 matters, together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later than 343 Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in, the notice and Survey 34 4 shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered a prior 345 survey, Seller shall, at Buyer's request, execute an affidavit of "no change" to the Real Property since the 346 preparation of such prior survey, to the extent the affirmations therein are true and correct. 347 C. INGRESS AND EGRESS : Seiler represents that there is ingress and egress to the Real Property and title to 34a the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access. Wom 349 S_ ES : Seller shall, within 5 days after Inspection Period, furnish to Buyer copies of all written lease44 3so estoppel le each tenant specifying nature and duration of tenants occupancy, rental rat ced rent 351 and security deposits par ant, and income and expense statements for 2 months (°Lease 352 Information") . If Seller is unable to ob I el letters from tenants a information shall be furnished by 353 Setter to Buyer within that time period in the form o I , and Buyer may thereafter contact tenants) 354 to confirm such information. If terms of the lea materia let's_ representations, Buyer may deliver 355 written notice to Seller within 5 d receipt of Lease Information , but n n 5 days prior to Closing 356 Date, terminating this and receive a refund of the Deposit, thereby releasing Buy eller from all 357 further o under this Contract. Seller shall, at Closing, deliver and assign all original leases to u ho) 35 assume Seller's obligation thereunder. 359 . S: Seller. shall fumish to Buyer at Closing an affidavit attesting; (i) to the absence of any fi 36o statement, c at I15'>1 otential lienors known to Seller, and (ii) that there have been no im or repairs 361 to the Real Property for 90 aye' receding Closing Date . If the r ty has been improved or 362 repaired within that time, Seller shall deliver re nstruction liens executed by all general 363 contractors, subcontractors, suppliers and materi a dition aaffidavit setting forth names of all 364 such general contractor;, sub suppliers and materialmen, further a aall charges for 365 improvements or re ' could serve as a basis for a construction lien or a claim for damages hav paid, 386 or w a Closing. 387 TIME. Calendar days shall be used in computing time periods. Any time periods provided for in this Contract 368 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U .S. C. 6103) shall extend to 5:00 p.m. 369 (where the Property is located ) of the next. business day. Time is of the essence in this Contract. 37o G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non-performance of the obligation is delayed, caused or 372 prevented by Force Majeure. "Force Majeure" means: hurricanes, earthquakes, floods, fire, acts of God, unusual 373 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control of 374 Buyer or Seller, and which, by exercise of reasonable diligent effort, the non-performing party is unable in whole or in 37s part to prevent or overcome. All time periods, including Closing Date, will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract 38o H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty , trustee's, 381 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this Contract. 384 1. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE : 3s5 (i) LOCATION : Closing will take place in the county where the Real Property is located at the office of the 386 attorney or r closing agent (" Closing Agent") designated by the party paying for the owner' s pollav of MI Buyers Initials Page 7 of 10 Sellers Initial FloridaRealtors/Flo agar-ASISA Rev. 6110 02010 Florida Reaftors® and The Florida Bar. All rights reserved. Wsar 02arrs5001374405473 form SIiFnp] ic 4.2 � 327 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 328 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt of Sellers 3w notice) . If Seller is unable to cure defects within Cure Period , then Buyer may, within 5 days after expiration of 331 Cure Period, deliver written notice to Seller. (a) extending Cure Period for a specified period not to -exceed 120 days 332 within which Seller shall continue to use reasonable diligent effort to remove or cure the defects ("Extended Cure 333 Period") ; or (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date 334 has passed , within the earlier of 10 days after end of Extended Cure Period or Buyer's receipt of Seller's notice), or 335 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby . releasing Buyer and Seller from 336 all further obligations under this Contract If after reasonable diligent effort, Seller is unable to timely cure defects, 337 and Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B. SURVEY: If Survey discloses encroachments on the Real Property or that improvements located thereon 34o encroach on setback lines, easements, or lands of others; or violate any restrictions, covenants, or applicable 341 governmental regulations described in STANDARD A (i)(a ), (b) or (d) above, Buyer shall deliver written notice of such 342 matters, together with a copy of Survey, to Seller within 5 days after Buyer's receipt of Survey, but no later than 343 Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in, the notice and Survey 34 4 shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered a prior 345 survey, Seller shall, at Buyer's request, execute an affidavit of "no change" to the Real Property since the 346 preparation of such prior survey, to the extent the affirmations therein are true and correct. 347 C. INGRESS AND EGRESS : Seiler represents that there is ingress and egress to the Real Property and title to 34a the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access. Wom 349 S_ ES : Seller shall, within 5 days after Inspection Period, furnish to Buyer copies of all written lease44 3so estoppel le each tenant specifying nature and duration of tenants occupancy, rental rat ced rent 351 and security deposits par ant, and income and expense statements for 2 months (°Lease 352 Information") . If Seller is unable to ob I el letters from tenants a information shall be furnished by 353 Setter to Buyer within that time period in the form o I , and Buyer may thereafter contact tenants) 354 to confirm such information. If terms of the lea materia let's_ representations, Buyer may deliver 355 written notice to Seller within 5 d receipt of Lease Information , but n n 5 days prior to Closing 356 Date, terminating this and receive a refund of the Deposit, thereby releasing Buy eller from all 357 further o under this Contract. Seller shall, at Closing, deliver and assign all original leases to u ho) 35 assume Seller's obligation thereunder. 359 . S: Seller. shall fumish to Buyer at Closing an affidavit attesting; (i) to the absence of any fi 36o statement, c at I15'>1 otential lienors known to Seller, and (ii) that there have been no im or repairs 361 to the Real Property for 90 aye' receding Closing Date . If the r ty has been improved or 362 repaired within that time, Seller shall deliver re nstruction liens executed by all general 363 contractors, subcontractors, suppliers and materi a dition aaffidavit setting forth names of all 364 such general contractor;, sub suppliers and materialmen, further a aall charges for 365 improvements or re ' could serve as a basis for a construction lien or a claim for damages hav paid, 386 or w a Closing. 387 TIME. Calendar days shall be used in computing time periods. Any time periods provided for in this Contract 368 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U .S. C. 6103) shall extend to 5:00 p.m. 369 (where the Property is located ) of the next. business day. Time is of the essence in this Contract. 37o G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non-performance of the obligation is delayed, caused or 372 prevented by Force Majeure. "Force Majeure" means: hurricanes, earthquakes, floods, fire, acts of God, unusual 373 transportation delays, wars, insurrections, acts of terrorism, and any other cause not reasonably within control of 374 Buyer or Seller, and which, by exercise of reasonable diligent effort, the non-performing party is unable in whole or in 37s part to prevent or overcome. All time periods, including Closing Date, will be extended for the period that the Force 376 Majeure prevents performance under this Contract, provided, however, if such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 379 and Seller from all further obligations under this Contract 38o H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty , trustee's, 381 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters described 382 in STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this Contract. 384 1. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE : 3s5 (i) LOCATION : Closing will take place in the county where the Real Property is located at the office of the 386 attorney or r closing agent (" Closing Agent") designated by the party paying for the owner' s pollav of MI Buyers Initials Page 7 of 10 Sellers Initial FloridaRealtors/Flo agar-ASISA Rev. 6110 02010 Florida Reaftors® and The Florida Bar. All rights reserved. Wsar 02arrs5001374405473 form SIiFnp] ic 4.2 � t IF A I IF a IF H FTF Iv IF 7 FS N UNC C IF �11 � IF 4W IT a IF IF, Few IV cqs FW A zN � M 11 - � o ��I w HF _ IF IF : V1 m �ON .AI IF F IF M a F 1 11 1 IF IF I& "' U [-y z � F IMF, IF 0 a C' N Lr) d 000 f Ln En C�3 i o ell 11 l� y }; ;MI4 AMA co as ycd a 4m4eel leee ell " O O D O o C, Y ' o N O p i e Cd u Cc {' cd G O C M a Z O U N y 0 0 O U �+ .■ vi +- O O Gi rO Cm U h "b oN i, N AMA y ' v y CIO h v x Cd u F vi cd > `n N " p vUi fs. U •O cOd wo bb Ci ci ° Cd O ami 4OD ; V le ee I C ° Flo QC U U [W 'O co D lee y cd Cd We > O . U O Ln �..i U o 4i r, O O v T3 Cd it �, Ole L� 3cd Cc W= o C%] cd '3kncn00 4=4 0 4miO lee } " a �./ : o � c o 0 0 O z `� O i� 0: elk � `- gid' c O � cd 4-4 rA Cd a� O y k4e, l cn N cd O N f,' y0 4" LC 0 �' INA ** Xle lee CAOU O p n t O O O O Q O C/� C" " .e,e oNt 14MA ell I cl co 03 cd a O cd O v p cdN }, "O V Ina CL reee j W �+ o o U o > y ;: Ln cdbj) 4m4 'C ,, �; �•+ • •, Q. cz lee lee'll f v .v. cd ISI N V z .� � ' ipr Cell I U O O x ' ccell W H V A A U A W O QQ° H 3 -� 3 ami o ci E o N c� r•� Vi ... -1 �D a 387 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 388 insurance, or, if no title insurance, designated by Seller. Closing may be conducted by mail or electronic means. 4fi4 389 (ii) CUMENTS: At Closing , Setter shall furnish and pay for, as applicable, deed , 390 certificate of title, cons affidavit, owner's possession affidavit, as ses, and corrective 301 instruments. Seller shall provide Buyer w1 is a on the Property pursuant to this Contract 392 Buyer shall furnish and pay for, as age, e, security agreement, financing statements, 393 survey, ba cation , and other documents requi�ctred by Buye s er. 394 OCEDURE : The deed shall be recorded upon COLLECTION of all closing funds. If the Title 39s Commitment provides insurance against adverse matters pursuant to Section 627.7841 , F. S. , as amended , the 306 escrow closing procedure required by STANDARD J shall be waived , and Closing Agent shall , subject to 397 COLLECTION of all closing funds , disburse at Closing the brokerage fees to Broker and the net sale proceeds to 39a Seller. 399 J. ESCROW CLOSING PROCEDURE : If Title Commitment issued pursuant to Paragraph 9(c) does not provide 400 for insurance against adverse matters as permitted under Section 627.7841 , F. S . , as amended , the following escrow 401 and closing procedures shall apply: ( 1 ) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing ; (2) if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer 403 shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; (3) if Seller fails to timely cure the defect, the Deposit and all Closing funds 4os paid by Buyer shall, within 5 days ager written demand by Buyer, be refunded to Buyer and, simultaneously with 406 such repayment, Buyer shall return the Personal Property, vacate the Real Property and re-convey the Property to 407 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the 408 Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be 4a9 available to Buyer by virtue of warranties contained in the deed or bill of sale. 410 P FtATIONS; CREDITS : The following recurring items will be made current (if applicable) and prorateqaer all the r to Closing Date, or date of occupancy if occupancy occurs before Closing Date: rea taxes ' 412 (including spe nefit tax assessments imposed by a CDD), interest, bonds, association f nsurance, rents 413 and other expenses o erty. Buyer shall have option of taking over existing policies rance, if assumable, in 414 which event premiums shall I L ted. Cash at Closing shall be increasedo) Aed&sed as may be required by 415 prorations to be made through day pn Closing. Advance rent and ty deposits, if any, will be credited to 41e Buyer. Escrow deposits held by Seller's mortgageewill be paid er. Taxes shall be prorated based on current 417 year's tax with due allowance made for maximum allo SC 2J 4k, homestead and other exemptions. If Closing 418 occurs on a date when current year's millage is ed but 'atce t year`s assessment is available, taxes will be 419 prorated based upon such assessment an r year's millage. If cu ar 's assessment is not available, then 420 taxes will be prorated on prior year' f there are completed improvements o eal Property by January 1 st of 421 year of Closing , which imp nts were not in existence on January 1st of prior year, taxes shall be prorated 422 based upon priory I lage and at an equitable assessment to be agreed upon between the afailing which, 423 request shall ade to the County Property Appraiser for an informal assessment taking into acro ailable 424 exem . A tax proration based on an estimate shall, at either party's request, be readjusted upon recel 425 nt year's tax bill. This STANDARD K shall survive Closing. 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK THROUGH: Seller shall, 427 upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, including a 428 walk-through (or follow-up walk-through If necessary) prior to Closing . 429 M. RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire or other casualty 430 (°Casualty Loss") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1 .5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing , a sum equal to 125% of estimated 433 cost to complete restoration (not to exceed 1 .5% of Purchase Price), will be escrowed at Closing . If actual cost of 434 restoration exceeds escrowed amount, Seller shall pay such actual costs (but, not in excess of 1 .5% of Purchase 435 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1 .5% of 436 Purchase Price, Buyer shall elect to either take Property "as is" together with the 1 .5%, or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation 43e with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. 439 N. 1031 EX 44o Closing or deferred) under Section 1031 of the Internal Revenu e , the other party shall cooperate l�441 in all reasonable respects to effectu e, including execution of documents; provided , however 442 cooperatin o ability or expense related to the Exchange, and Closing shall not be contingent 443 , 444 O. CONTRACT NOT RECORDABLE; PERSONS BOUND , NOTICE , COPIES: Neither this Contract nor any 446 notice of it shall be recorded in any public records. This Contract shall be binding on, and inure to the benefit of, the 446 parties and th ' respective heirs or successors in interest Whenever the context permits, singular shall in de ural Buyer's Initials Page 8 of 10 Seller's lnitia FloridaRealtors/FloridaBar-ASISA Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. Ail rights reserved_,_ WaW. 02one4500137o0547s forinsimpli 4 387 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 388 insurance, or, if no title insurance, designated by Seller. Closing may be conducted by mail or electronic means. 4fi4 389 (ii) CUMENTS: At Closing , Setter shall furnish and pay for, as applicable, deed , 390 certificate of title, cons affidavit, owner's possession affidavit, as ses, and corrective 301 instruments. Seller shall provide Buyer w1 is a on the Property pursuant to this Contract 392 Buyer shall furnish and pay for, as age, e, security agreement, financing statements, 393 survey, ba cation , and other documents requi�ctred by Buye s er. 394 OCEDURE : The deed shall be recorded upon COLLECTION of all closing funds. If the Title 39s Commitment provides insurance against adverse matters pursuant to Section 627.7841 , F. S. , as amended , the 306 escrow closing procedure required by STANDARD J shall be waived , and Closing Agent shall , subject to 397 COLLECTION of all closing funds , disburse at Closing the brokerage fees to Broker and the net sale proceeds to 39a Seller. 399 J. ESCROW CLOSING PROCEDURE : If Title Commitment issued pursuant to Paragraph 9(c) does not provide 400 for insurance against adverse matters as permitted under Section 627.7841 , F. S . , as amended , the following escrow 401 and closing procedures shall apply: ( 1 ) all Closing proceeds shall be held in escrow by the Closing Agent for a period 402 of not more than 10 days after Closing ; (2) if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer 403 shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; (3) if Seller fails to timely cure the defect, the Deposit and all Closing funds 4os paid by Buyer shall, within 5 days ager written demand by Buyer, be refunded to Buyer and, simultaneously with 406 such repayment, Buyer shall return the Personal Property, vacate the Real Property and re-convey the Property to 407 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the 408 Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be 4a9 available to Buyer by virtue of warranties contained in the deed or bill of sale. 410 P FtATIONS; CREDITS : The following recurring items will be made current (if applicable) and prorateqaer all the r to Closing Date, or date of occupancy if occupancy occurs before Closing Date: rea taxes ' 412 (including spe nefit tax assessments imposed by a CDD), interest, bonds, association f nsurance, rents 413 and other expenses o erty. Buyer shall have option of taking over existing policies rance, if assumable, in 414 which event premiums shall I L ted. Cash at Closing shall be increasedo) Aed&sed as may be required by 415 prorations to be made through day pn Closing. Advance rent and ty deposits, if any, will be credited to 41e Buyer. Escrow deposits held by Seller's mortgageewill be paid er. Taxes shall be prorated based on current 417 year's tax with due allowance made for maximum allo SC 2J 4k, homestead and other exemptions. If Closing 418 occurs on a date when current year's millage is ed but 'atce t year`s assessment is available, taxes will be 419 prorated based upon such assessment an r year's millage. If cu ar 's assessment is not available, then 420 taxes will be prorated on prior year' f there are completed improvements o eal Property by January 1 st of 421 year of Closing , which imp nts were not in existence on January 1st of prior year, taxes shall be prorated 422 based upon priory I lage and at an equitable assessment to be agreed upon between the afailing which, 423 request shall ade to the County Property Appraiser for an informal assessment taking into acro ailable 424 exem . A tax proration based on an estimate shall, at either party's request, be readjusted upon recel 425 nt year's tax bill. This STANDARD K shall survive Closing. 426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK THROUGH: Seller shall, 427 upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, including a 428 walk-through (or follow-up walk-through If necessary) prior to Closing . 429 M. RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire or other casualty 430 (°Casualty Loss") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1 .5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract. If restoration is not completed as of Closing , a sum equal to 125% of estimated 433 cost to complete restoration (not to exceed 1 .5% of Purchase Price), will be escrowed at Closing . If actual cost of 434 restoration exceeds escrowed amount, Seller shall pay such actual costs (but, not in excess of 1 .5% of Purchase 435 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1 .5% of 436 Purchase Price, Buyer shall elect to either take Property "as is" together with the 1 .5%, or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation 43e with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. 439 N. 1031 EX 44o Closing or deferred) under Section 1031 of the Internal Revenu e , the other party shall cooperate l�441 in all reasonable respects to effectu e, including execution of documents; provided , however 442 cooperatin o ability or expense related to the Exchange, and Closing shall not be contingent 443 , 444 O. CONTRACT NOT RECORDABLE; PERSONS BOUND , NOTICE , COPIES: Neither this Contract nor any 446 notice of it shall be recorded in any public records. This Contract shall be binding on, and inure to the benefit of, the 446 parties and th ' respective heirs or successors in interest Whenever the context permits, singular shall in de ural Buyer's Initials Page 8 of 10 Seller's lnitia FloridaRealtors/FloridaBar-ASISA Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. Ail rights reserved_,_ WaW. 02one4500137o0547s forinsimpli 4 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 448 and one gender shall include all. Notice and delivery given by or to the attorney or broker (including such broker's real 449 estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in 45o writing and may be made by mail, personal delivery or electronic (including "pdf) media. A legible facsimile or 451 electronic (including "pdf') copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original. 453 P . INTEGRATION, MODIFICATION : This Contract contains the full and complete understanding and agreement of 454 Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seiler unless included in this Contract. No modification to or change 458 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. 458 Q. WAVER: Failure of Buyer or Seller to insist on compliance with , or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 48o rights. 481 R. RIDERS, ADDENDA ; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 482 or handwritten provisions shall control all printed provisions of this Contract in conflict with them. 4m S. COLLECTION or COLLECTED : „COLLECTION,, or „COLLECTED,, means any checks tendered or received, 484 including Deposits, have become actually and finally collected and deposited In the account of Escrow Agent 485 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 4w Closing Agent until such amounts have been COLLECTED In Closing Agent's accounts. 487 T. LOAN COMMIT111JENZO ° 488 conditions upon—which the lPnriPr ic_ A IIS to ninkp n n^rijail r Modgag Ina,•,. to a pardailar hnrrr , Aar. 489 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of 47o Florida and venue for resolution of all disputes, whether by mediation, arbitration or litigation, shall lie in the county in 471 which the Real Property is located. 472 X. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee Involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 478 ADDENDA AND ADDITIONAL TERMS 477 19. ADDENDA: The following additional terms are included in the attached addenda and incorporated Into this 478* Contract (Check if applicable): ` ❑ A. Condominium Assn. ❑ L. RESERVED ❑ R. Rezoning ❑ Y. Seller's Attorney ❑ B. Homeowners' Assn . ❑ S. Lease Purchase/ Approval ❑ C. Seller Financing ❑ M. Defective Drywall Lease Option ❑ Z. Buyer's Attorney ❑ D. Mortgage Assumption ❑ N. Coastal Construction ❑ T. Pre-Closing Approval ❑ E. FHANA Financing Control Line Occupancy ❑ AA. Licensee-Personal ❑ F. Appraisal Contingency ❑ O. Insulation Disclosure ❑ U . Post-Closing Interest in Property ❑ G. Short Sale ❑ P . Pre-9978 Housing Occupancy ❑ BB. Binding Arbitration ❑ H . Homeowners' Insurance Statement (Lead ❑ V. Sale of Buyer's ❑ Other ❑ I . FIRPTA Based Paint) Property ❑ J. Interest Bearing Acct ❑ Q. Housing for Older ❑ W. Back-up Contract ❑ K. RESERVED Persons ❑ X. Kick-out Clause 479* 20 . ADDITIONAL TERMS: gNhis contract is contingent upon Indian River County Board of County corrunission approval; 480* Title insurance shall be at Buyer's expense; 2013 real estate areuye s expense; the aalng date shagdays after IRC BOCC- 481 * approval. 482* 483• 484* 485* 488* 487* 488* 489* 49o* 491 * 492* 493* Buyer's Initials Page 9 of 10 Seller's Initials FloridaRealtors/FloridaBarASISA Rev. 6110 ® 2010 Florida .Realtors® and The Florida Bar. All rights reserved, s : G2MM001374s OSSf Ot° i71 SI31t 2e-1 - 447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 448 and one gender shall include all. Notice and delivery given by or to the attorney or broker (including such broker's real 449 estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in 45o writing and may be made by mail, personal delivery or electronic (including "pdf) media. A legible facsimile or 451 electronic (including "pdf') copy of this Contract and any signatures hereon shall be considered for all purposes as an 452 original. 453 P . INTEGRATION, MODIFICATION : This Contract contains the full and complete understanding and agreement of 454 Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 455 representations shall be binding upon Buyer or Seiler unless included in this Contract. No modification to or change 458 in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended 457 to be bound by it. 458 Q. WAVER: Failure of Buyer or Seller to insist on compliance with , or strict performance of, any provision of this 459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or 48o rights. 481 R. RIDERS, ADDENDA ; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 482 or handwritten provisions shall control all printed provisions of this Contract in conflict with them. 4m S. COLLECTION or COLLECTED : „COLLECTION,, or „COLLECTED,, means any checks tendered or received, 484 including Deposits, have become actually and finally collected and deposited In the account of Escrow Agent 485 or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by 4w Closing Agent until such amounts have been COLLECTED In Closing Agent's accounts. 487 T. LOAN COMMIT111JENZO ° 488 conditions upon—which the lPnriPr ic_ A IIS to ninkp n n^rijail r Modgag Ina,•,. to a pardailar hnrrr , Aar. 489 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of 47o Florida and venue for resolution of all disputes, whether by mediation, arbitration or litigation, shall lie in the county in 471 which the Real Property is located. 472 X. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by 473 law, against any real estate licensee Involved in the negotiation of this Contract, for any defects or other 474 damage that may exist at Closing of this Contract and be subsequently discovered by the Buyer or anyone 475 claiming by, through, under or against the Buyer. 478 ADDENDA AND ADDITIONAL TERMS 477 19. ADDENDA: The following additional terms are included in the attached addenda and incorporated Into this 478* Contract (Check if applicable): ` ❑ A. Condominium Assn. ❑ L. RESERVED ❑ R. Rezoning ❑ Y. Seller's Attorney ❑ B. Homeowners' Assn . ❑ S. Lease Purchase/ Approval ❑ C. Seller Financing ❑ M. Defective Drywall Lease Option ❑ Z. Buyer's Attorney ❑ D. Mortgage Assumption ❑ N. Coastal Construction ❑ T. Pre-Closing Approval ❑ E. FHANA Financing Control Line Occupancy ❑ AA. Licensee-Personal ❑ F. Appraisal Contingency ❑ O. Insulation Disclosure ❑ U . Post-Closing Interest in Property ❑ G. Short Sale ❑ P . Pre-9978 Housing Occupancy ❑ BB. Binding Arbitration ❑ H . Homeowners' Insurance Statement (Lead ❑ V. Sale of Buyer's ❑ Other ❑ I . FIRPTA Based Paint) Property ❑ J. Interest Bearing Acct ❑ Q. Housing for Older ❑ W. Back-up Contract ❑ K. RESERVED Persons ❑ X. Kick-out Clause 479* 20 . ADDITIONAL TERMS: gNhis contract is contingent upon Indian River County Board of County corrunission approval; 480* Title insurance shall be at Buyer's expense; 2013 real estate areuye s expense; the aalng date shagdays after IRC BOCC- 481 * approval. 482* 483• 484* 485* 488* 487* 488* 489* 49o* 491 * 492* 493* Buyer's Initials Page 9 of 10 Seller's Initials FloridaRealtors/FloridaBarASISA Rev. 6110 ® 2010 Florida .Realtors® and The Florida Bar. All rights reserved, s : G2MM001374s OSSf Ot° i71 SI31t 2e-1 - CO y Cd 0 rA � ; L � • � a ' c � o a , c tn 64 Ln Lnaj o OX�l l o g o y o rA o cqs Cd v w " ? CS CS O O lir" G O U ' co Z E o ' O � o o o wcd diiM O c Cd olie �4 61 1 ri ee 14U ° O N O O O Cc to cd z lid ` _ ie I N s-, rdie , �} N R Cd �; N .61515 yU, . � ' � N U N i O O� ^d eA"i Qq eiiO N E ZZ OEn lee V N N S O O wrz U_ MCI 0 U O � 4 A. Settlement Statement Prepared by : Atlantic Coastal Land Title Company, LLC 855 21st Street, Suite C, Vero Beach, Florida 32960 B. T e of Loan 6. File Number 7. Loan Number 8. Mortgage Insurance Case No. 1 . ❑ FHA 2. ❑ FmHA 3 . ❑ Conv. Unins. 4. ❑ VA 5 . ❑ Conv . Ins. 43080306 C . Note : This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p. o. c. ) " were paid outside the closing; they are shown here for informational purposes and are not included in the totals. D NAME AND ADDRESS OFBUYER Indian River County, a political subdivision of the State of Florida 1801 27th St Vero Beach, FL 32960 ---- --- --------- E NAME AND ADDRESS OFSELMR. Bamaric of VB, LLC, a Florida limited liability company 9015 Americana Road #9 Vero Beach, FL 32966 F. NAME. AND ADDRESS DF LENDER. None - Cash <, PROPERTY Lex A, ION 5020 26`b St., Vero Beach, FL 32966 --- -- -- ._ -__- .-- 1. SFTrtEM1ENT DATE. „ SF,T� ENTAOENT Atlantic Coastal Land Title Company, LLC PLALEOFSErEUMENT. 855 21st Street, Suite C, Vero Beach, Florida 32960 September 3rd 2013 I. MUMMARY;pF BUYER'S TRANSAC rIPN K. SUMMARY. 0 3E1 I IyR'.3 TRANSACTION 101 . Contract Sales Price $ 72,911 .41 401 . Contract Sales Price $ 72,911 .41 102. PersonalProperty - 402. Personal Property - _ 103 . Settlement charges to BUYER: $ 793 .95 403 . 104. - - - 404. - --- - - 105 . 405 . ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: ADJUSTMENTS FOR ITEMS PAID,BY SELLER IN ADVANCE: 107 . County Taxes l / 1 / 13 to Closing Date _ $- _ - _412.07 _407 . County Taxes Closing Date to 12/31 $ -0.00 - - - - - 408 . Assessments to 108 . Assessments to - - - - - - 409 , 109 . 4 110, 10, 111 . 411 . - -- - 412. 112. 120, GROSS DUE FM BUYER: $ 741117.43 420. GROSS DUE TO SELLER: $ 729911 .41 201 . Deposit or earnest money a ss deposit (see instructions) 202 . Principal amt of new loan $ 0.00 ment Charges to seller $ 0.00 203 . Existing loans taken subject to - _- ing loans taken subject to - - -- 204 ff of first mortgage loan 205 . ff of second mortgage loan 206 207 . - - - --208 .209 . ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: ADJUSTMENTS Fl7R ITEMS UNPAID BY SELLER:- - 211 . County Taxes 1/1 - Closing Date $ 0.00 511 . County taxes 1/1 - Closing Date $ - 0.00 -- _-- - - - - ---- -- 512. Assessments to 212. Assessments to 213 . -- --- 513 . ----- - - --- .. - - - - - -- 514. 214. ---- - ---- - - -- - 515 . - -- - 215 . - - - - 516. 216. _ . - - - - - - . - -- -- - -- - - 217 . 517 - - -- 218 . - - 518 - - - - 219. 519 . 0.00 5200 TOTAL REDUCTIONS IN $ 0.00 220. TOTAL PAID BY/FOR BUYER: $ AMOUNT DUE TO SELLER: due to seller $ 72,911 .41 74, 117 .43 601 . Gross amt 301 . Gross amt due from BUYER $ - -- - ------ -- -- -- -- -- _- _ - -- -- --- ---- _- _ 0.00 302. Less amt paid by/for BUYER $ 0.00 602 . Less reductions In amt due seller 303. CASH FROM BORROWER: $ 74,117 .43 603. CASH TO SELLER: $ 729911 .41 HUD- 1 (3 -86) RESPA, HB 4305 .2 494 COUNTER=OFFER/REJECTION 495• ❑ Seller counters Buyer's offer (to accept the counter-0ffer, Buyer must sign or initial the counter-offence terms and 496 deliver a copy of the acceptance to Seller). 497` ❑ Seller rejects Buyer's offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING. 50o THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. 505 AN ASTERISK ( `} FOLLOWING A LINE NUMBER 1N THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 5a6 BE COMPLETED. f 507• Buyer. Date: saa• Buyer. Date: AZI 5os• Seller. Date: iLt >�2lL d / j LC 51 o* Seller. tn't Date: 511 Buyer's address for purposes of notice Sellers address for purposes of notice 512. 1801 27th St. 9015 Americana Road #9 513• Bero Beach , FL 32960 Vero Beach , FL 32966 514` 515 BROKER: Listing and Cooperating Brokers, if any, named below (collectively , " Broker"), are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 51a agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has 519 retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation 52o made by Seller or Listing Broker to Cooperating Brokers. 521= NONE NONE 522 Cooperating Sales Associate, If any Listing Sales Associate 523. NONE NONE 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FloridaReal Dra/FloridaBar-ASIS-1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. SedeW. 02M&3M3744M73 011' 1 S1I 1.#i IL 494 COUNTER=OFFER/REJECTION 495• ❑ Seller counters Buyer's offer (to accept the counter-0ffer, Buyer must sign or initial the counter-offence terms and 496 deliver a copy of the acceptance to Seller). 497` ❑ Seller rejects Buyer's offer. 498 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE 499 OF AN ATTORNEY PRIOR TO SIGNING. 50o THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR. 501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions 503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. 505 AN ASTERISK ( `} FOLLOWING A LINE NUMBER 1N THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO 5a6 BE COMPLETED. f 507• Buyer. Date: saa• Buyer. Date: AZI 5os• Seller. Date: iLt >�2lL d / j LC 51 o* Seller. tn't Date: 511 Buyer's address for purposes of notice Sellers address for purposes of notice 512. 1801 27th St. 9015 Americana Road #9 513• Bero Beach , FL 32960 Vero Beach , FL 32966 514` 515 BROKER: Listing and Cooperating Brokers, if any, named below (collectively , " Broker"), are the only Brokers entitled 516 to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct Closing Agent 517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage 51a agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has 519 retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation 52o made by Seller or Listing Broker to Cooperating Brokers. 521= NONE NONE 522 Cooperating Sales Associate, If any Listing Sales Associate 523. NONE NONE 524 Cooperating Broker, if any Listing Broker Page 10 of 10 FloridaReal Dra/FloridaBar-ASIS-1 Rev. 6110 ® 2010 Florida Realtors® and The Florida Bar. All rights reserved. SedeW. 02M&3M3744M73 011' 1 S1I 1.#i IL IN WITNESS WHEREOF , the undersigned have approved and executed this Residential Contract for Sale and Purchase . BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY , FLORIDA fififi1111NNrt4444 ��ow]a\ NSS10 NElgs''Y+++ 009 464 & 00 \ 44, a+ Q os ph E . Flescher, Chairman ` ` • ': n BCC Approved : 08-20- 7. 3 , Bit c , N 4tlpl /!� N, RN Approved : By JotsHhA . rd Coistrator Attest: Jeffrey R . Smith , Clerk of Court and Comptroller puty Clerk Approved as to form and legal fficiency l William K. DeBraal Deputy County Attorney IN WITNESS WHEREOF , the undersigned have approved and executed this Residential Contract for Sale and Purchase . BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY , FLORIDA fififi1111NNrt4444 ��ow]a\ NSS10 NElgs''Y+++ 009 464 & 00 \ 44, a+ Q os ph E . Flescher, Chairman ` ` • ': n BCC Approved : 08-20- 7. 3 , Bit c , N 4tlpl /!� N, RN Approved : By JotsHhA . rd Coistrator Attest: Jeffrey R . Smith , Clerk of Court and Comptroller puty Clerk Approved as to form and legal fficiency l William K. DeBraal Deputy County Attorney L SETTLEMENT CHARGES 700, TOTAL SALES/BROKER'S COMMISSION: $, BASED ON PRICE OF $72,911 .41 , PBUYERSSM PAID FROM @ % = $ FUNDS AT FUNDS AT MUMS SETTLEMENT SETTLEMENT to to 703 . Commission paid at settlement 801 . an Origination fee % to 802. Loan Discount % to - -- -------------------- 803 . Appraisal Fee to: _ - --_------ -- -- -- 804. Credit Report to: 805 . Lender's Inspection fee to: - - - - 806. Mortgage Insurance application fee to: - 807 . Assumption fee to: 808 . 809. - - 810. _ 811 . 901 . Interest from to @ $ /day - - -- 902. Mortgage insurance premium for mos to 903 . Hazard insurance premium for yrs to 904 . Flood insurance premium for yrs to -- - -- - --- - - 905 . _ - - ---- - 1001 . Hazard insurance months @ $ per month 1002. Mortgage insurance months @ $ per month 1004. County property taxes months @ $ per month 1006. Flood insurance months @ $ per month 1007 . Aggregate Adjustment Amount 225 .00 $ 0.00 1101 . Settlement or closing fee to Atlantic Coastal Land Title Company, LLC $ g5 .00 $ 0.00 1102. Abstract or title search to Atlantic Coastal Land Title Company, LLC $-- - -- -0-� 1103 . Title Examination to Atlantic Coastal Land Title Company, LLC ---- 1104. Title insurance binder to - "- - - 1105 . Document In to - - ---- 1106. Notary fees to - - - - - 1107 . Attorney's fees to 419.75 $ 1108. Title insurance to Atlantic Coastal Land Title Company, LLC $419.75 $ 1109. Lender's coverage $ 1110. Owner's coverage_$ - --- 1111 . Florida Comprehensive Endorsement (Form 9) 1112. ALTA Environmental Protection Lien Endorsement Form 8 . 1 1113 1114. 1115. $ 28 .50 1201 . Recording fees : Deed $ 18 .50 ; Affidavit: $ 10.00 $ 0.70 -$ 1203 . State tax/stamps : Deed $ ; Mortgage $ ---- - _ _- - - -- $ 0.00 1204. Intangible tax on Mortgage 1206. Mmillijillillilllli 11111 111, 11 111 Ili 111111 11111111 1 1301 . Survey to _ _.- - - ------ --- -- L$� 1302. Pest inspection toF1304. press delivery fees to Atlantic Coastal Land Title Company, LLCz0 DDgital Archive Fee to Forensis Technologies 15 .00 ire Transfer Fee to CenterState Bank 4Section 1309. -- 1310. 1311 . 1312, 111 NINE MR ME 1400, TOTAL SETTLEMENT CHARGES (Enter on line 793.95 $ 0.00 3120130059717 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT INDIAN RIVER COUNTY FL BK: 2703 PG: 1246 Page 1 of 1 9/132013 3 : 55 PM Prepared by and return to , Jason A . Beal Atlantic Coastal Land Title Company, LLC 855 21St St . , Suite C, Vero Beach , FL 32960 Limited Liability Company Affidavit State of FLORIDA County of INDIAN RIVER Before me , the undersigned authority, personally appeared Frederick W . Baker and Mark S . Baker ( "Affiants" ) , who, being duly sworn according to law, depose and say : 1 . Affiants are the managers of Bamaric, LLC, a Florida limited liability company ( the " LLC" ) . 2 . The LLC is currently in existence under valid articles of organization and regulations and has not been terminated or dissolved . 3 . The LLC is the owner of the following described real property : The West 134 . 3 feet of the South 270 feet of the West 10 acres of Tract 15 , Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION , according to the Plat thereof, as recorded in Plat Book 2 , at Page ( s ) 25 , of the Public Records of St . Lucie County Florida ; said lands now lying and being in Indian River County, Florida . LESS AND EXCEPT that part of 26th Street (Walker Avenue ) as reserved in Plat Book 14, at Pages 18 & 18A . ( the " Property" ) 4 . The LLC is not in bankruptcy and , if the LLC is a single member entity, the single member is not in bankruptcy . 5 . Frederick W . Baker and Mark S . Baker are authorized by the articles of organization or operating agreement to execute any instruments affecting the Property on behalf of the LLC. 6 . If a full or partial copy of any document is attached hereto as Exhibit "A" , it shall be incorporated herein and made a part hereof, and Affiant represents that the copy is true and correct . 7 . Under penalties of perjury, Affiant declares that Affiant has read the foregoing document and that the facts stated in it are true . Fre' aker S . a k Baker Sworn to and subscribed before me this 30th day of Augus , 2013 , by Frederick W . Baker and Mark S . Baker who ( ) is personally known to me or ( ) produced the following identification : JASON A. BEAL 4+t Notary Pu0tic - State of Florida a ry Public i• • = My Comm . Expires Oct 11 , 2016 +.; Commission # EE 836130 �� h� n�• •�,,` Bonded Through National Notary Assn . 0 20 40 80 ! GRAPHIC SCALE ( IN FEET) LEGEND ! I.R. F.W. M.D. = INDIAN RIVER FARMS WATER MANAGEMENT DISTRICT ! O. R.B. =OFFICIAL RECORD BOOK P . B . = PLAT BOOK i PG. =PAGE R/W= RIGHT—OF—WAY t ADOREMo 5020 26TH STREET 32-39-33-00001 -0450-000020 $ ! ?; , HAMPSHIRE SUBDIVISION �, woL�. JAriEs RrAN gaig P.B. 21 PG. 99 OJLM 1991 . PG. 1584 Xaa _ dud d 'LOT A' i � � Q g ai �$ n w Ism 32 5 0000 9-33- 4-0000-OOOOO.i KING, RONEE SUZAN (1/2) h g8 $ m : _0 K=r sro2tim Aim (1 /2) ; — PROPOSED R/Vil LINE 29H 0' do O.RH 2793 PG 2238 — — - - a~ o ^z Nh EXISTING 139' EYJS11NG R/W UNE 164.3' R/W UNE 134.3' EXISTING R UNE 30' rn 00 rn Lo i N o 26TH STREET ( R/IN VARIES) a o_ rri Q o0 SOM UNE SEC710N 33 Q' Twp 323 TwP 335 0 I.R.F.W.M.D. SUB—LATERAL A-3 CANAL (3V R/W) 116.48' R/W UNE 136. 100 — — — — COMPASS POINTE N P .B. 16, PG. 55 BLOCK A LOT 42 33-39-04-00001 -0020-000340 33-39-04-00033-0010-00042.0 MCKEN2IE. GUriAN `R k PPME A J ADEN, PAUL H k KAREN S OR.& 2225. PG. 954 O.R.& 1661 • P4 1145 THIS IS NOT A BOUNDARY SURVEY EXHI $ IT FOR INFORMATIONAL PURPOSES ONLY INDfAN RIF" coUNTY DRAWN ffy` SEC 33 T32S R39E EXHIBIT sNEET B. ROACH Ile Augment of Public 1nor3s APPROVED 6� SEC 04 T33S R39 .26TH STREET BngiaeertaB Division D. SCBRym? PARCEL AI'ST OF 50TH AYE OF .1 _ 8 0 20 40 80 ! GRAPHIC SCALE ( IN FEET) LEGEND ! I.R. F.W. M.D. = INDIAN RIVER FARMS WATER MANAGEMENT DISTRICT ! O. R.B. =OFFICIAL RECORD BOOK P . B . = PLAT BOOK i PG. =PAGE R/W= RIGHT—OF—WAY t ADOREMo 5020 26TH STREET 32-39-33-00001 -0450-000020 $ ! ?; , HAMPSHIRE SUBDIVISION �, woL�. JAriEs RrAN gaig P.B. 21 PG. 99 OJLM 1991 . PG. 1584 Xaa _ dud d 'LOT A' i � � Q g ai �$ n w Ism 32 5 0000 9-33- 4-0000-OOOOO.i KING, RONEE SUZAN (1/2) h g8 $ m : _0 K=r sro2tim Aim (1 /2) ; — PROPOSED R/Vil LINE 29H 0' do O.RH 2793 PG 2238 — — - - a~ o ^z Nh EXISTING 139' EYJS11NG R/W UNE 164.3' R/W UNE 134.3' EXISTING R UNE 30' rn 00 rn Lo i N o 26TH STREET ( R/IN VARIES) a o_ rri Q o0 SOM UNE SEC710N 33 Q' Twp 323 TwP 335 0 I.R.F.W.M.D. SUB—LATERAL A-3 CANAL (3V R/W) 116.48' R/W UNE 136. 100 — — — — COMPASS POINTE N P .B. 16, PG. 55 BLOCK A LOT 42 33-39-04-00001 -0020-000340 33-39-04-00033-0010-00042.0 MCKEN2IE. GUriAN `R k PPME A J ADEN, PAUL H k KAREN S OR.& 2225. PG. 954 O.R.& 1661 • P4 1145 THIS IS NOT A BOUNDARY SURVEY EXHI $ IT FOR INFORMATIONAL PURPOSES ONLY INDfAN RIF" coUNTY DRAWN ffy` SEC 33 T32S R39E EXHIBIT sNEET B. ROACH Ile Augment of Public 1nor3s APPROVED 6� SEC 04 T33S R39 .26TH STREET BngiaeertaB Division D. SCBRym? PARCEL AI'ST OF 50TH AYE OF .1 _ 8 OWNER ' S POLICY OF TITLE INSURANCE (with Florida Modifications ) * Policy Number OXFL =08209763 File Number: 43080306 * * * Issued by Old Republic National Title Insurance Company * Any notice of claim and any other notice or statement in writing required to be given to the * * Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. * * * * COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B , AND THE CONDITIONS , OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation (the " Company' ) insures , as of Date of Policy, against loss or damage , not exceeding the Amount of Insurance , sustained or incurred by the Insured by reason of: 1 . Title being vested other than as stated in Schedule A. 2 . Any defect in or lien or encumbrance on the Title . This Covered Risk includes but is not limited to insurance against loss from ( a ) A defect in the Title caused by ( i ) forgery, fraud , undue influence , duress , incompetency, incapacity, or impersonation ; ( ii ) failure of any person or Entity to have authorized a transfer or conveyance; ( iii ) a document affecting Title not properly created , executed , witnessed , sealed , acknowledged , notarized , or delivered ; ( iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified , expired , or otherwise invalid power of attorney; ( vi ) a document not properly filed , recorded , or indexed in the Public Records including failure to perform those acts by electronic means authorized by law, or (vii ) a defective judicial or administrative proceeding . ( b ) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable , but unpaid . ( c ) Any encroachment, encumbrance , violation , variation , or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land . The term " encroachment" includes encroachments of existing improvements located on the Land onto adjoining land , and encroachments onto the Land of existing improvements located on adjoining land . 3 . Unmarketable Title . 4 . No right of access to and from the Land . 5 . The violation or enforcement of any law, ordinance , permit, or governmental regulation ( including those relating to building and zoning ) restricting , regulating , prohibiting , or relating to ( a ) the occupancy, use , or enjoyment of the Land ; ( b) the character, dimensions , or location of any improvement erected on the Land ; ( c ) the subdivision of land ; or ( d ) environmental protection if a notice , describing any part of the Land , is recorded in the Public Records setting forth the violation or intention to enforce , but only to the extent of the violation or enforcement referred to in that notice . In Witness Whereof, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of the Company. Policy Issuer: Countersigned: ATLANTIC COASTAL LAND TITLE COMPANY, LLC 855 21ST STREET, STE C OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY CENTERSTATE BANK BLDG , 2ND FLR A Stock Company VERO BEACH , FL 32960 400 Second Avenue South, Minneapolis, Minnesota 55401 PHONE : 772-569-4364 (612) 371 - 1111 B President Authorized Officer or Licensed Agent ORT Form 4309 FL Attest Secretary ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications) OWNER ' S POLICY OF TITLE INSURANCE (with Florida Modifications ) * Policy Number OXFL =08209763 File Number: 43080306 * * * Issued by Old Republic National Title Insurance Company * Any notice of claim and any other notice or statement in writing required to be given to the * * Company under this Policy must be given to the Company at the address shown in Section 18 of the Conditions. * * * * COVERED RISKS SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE B , AND THE CONDITIONS , OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, a Minnesota corporation (the " Company' ) insures , as of Date of Policy, against loss or damage , not exceeding the Amount of Insurance , sustained or incurred by the Insured by reason of: 1 . Title being vested other than as stated in Schedule A. 2 . Any defect in or lien or encumbrance on the Title . This Covered Risk includes but is not limited to insurance against loss from ( a ) A defect in the Title caused by ( i ) forgery, fraud , undue influence , duress , incompetency, incapacity, or impersonation ; ( ii ) failure of any person or Entity to have authorized a transfer or conveyance; ( iii ) a document affecting Title not properly created , executed , witnessed , sealed , acknowledged , notarized , or delivered ; ( iv) failure to perform those acts necessary to create a document by electronic means authorized by law; (v) a document executed under a falsified , expired , or otherwise invalid power of attorney; ( vi ) a document not properly filed , recorded , or indexed in the Public Records including failure to perform those acts by electronic means authorized by law, or (vii ) a defective judicial or administrative proceeding . ( b ) The lien of real estate taxes or assessments imposed on the Title by a governmental authority due or payable , but unpaid . ( c ) Any encroachment, encumbrance , violation , variation , or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the Land . The term " encroachment" includes encroachments of existing improvements located on the Land onto adjoining land , and encroachments onto the Land of existing improvements located on adjoining land . 3 . Unmarketable Title . 4 . No right of access to and from the Land . 5 . The violation or enforcement of any law, ordinance , permit, or governmental regulation ( including those relating to building and zoning ) restricting , regulating , prohibiting , or relating to ( a ) the occupancy, use , or enjoyment of the Land ; ( b) the character, dimensions , or location of any improvement erected on the Land ; ( c ) the subdivision of land ; or ( d ) environmental protection if a notice , describing any part of the Land , is recorded in the Public Records setting forth the violation or intention to enforce , but only to the extent of the violation or enforcement referred to in that notice . In Witness Whereof, OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY, has caused this policy to be signed and sealed as of Date of Policy shown in Schedule A, the policy to become valid when countersigned by an authorized signatory of the Company. Policy Issuer: Countersigned: ATLANTIC COASTAL LAND TITLE COMPANY, LLC 855 21ST STREET, STE C OLD REPUBLIC NATIONAL TITLE INSURANCE COMPANY CENTERSTATE BANK BLDG , 2ND FLR A Stock Company VERO BEACH , FL 32960 400 Second Avenue South, Minneapolis, Minnesota 55401 PHONE : 772-569-4364 (612) 371 - 1111 B President Authorized Officer or Licensed Agent ORT Form 4309 FL Attest Secretary ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications) 1 have carefully reviewed the Settlement Statement and to the best of my luiowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that 1 have received a copy of Settlement Statement. Buyer(s): Indian River County , a political 5tibdiviston of the State of Florida r ' sr ByR. , William K. DeBraal its Deputy County Attorney Sellers: Bamaric of VB , LLC, a Florida limited liability company By: Frederic . Baker its By , its Manager Some costs reflected hereon may be based on good faith estimates that re ,uire post-closing adjustment. Any variations in actual costs from those reflected hereon that result in overcharges or undercharges not + n excess of $25 .OU to any party shall be credited w or debited against closing fees charged by Atlantic Coastal Land Title Company , LLC. It is further understood, and the parties hereto agree, that all funds received by Atlantic Coastal land Title Company , LI .0 may be placed in escrow accounts that may be subject to overnight Repurchase Agreements between Atlantic Coastal and its depository bank. Interest earned as the result of such agreements, if any , is the property of Atlantic Coastal Land Title Company , LLC . The HUD- 1 Settlement Statement which I have prepared is a true urf aceatate account of this transaetion . l have caused or will cause the funds to be disbursed in accordance with this statement . Atlantic Coastal Land Title Company, LLC (Settlement Agent; Closing Date: September 3rd, 2013 WARNING : it is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine or imprisonment. For details see: Title 18 U S . Code Section 1001 and Section 1010. 3120130059716 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT incident to INDIAN RIVER COUNTY FL This instrument was prepared BK: 2703 PG: 1244 Page 1 of 2 9/132013 3 : 55 PM the issuance of a title insurance contract, D DOCTAX PD $0 . 70 and is to be returned to: Jason A. Beal Atlantic Coastal Land Title Company, LLC 855 21 " St. , Suite C Vero Beach, Florida 32.960 ACLT File Number : 43080306 Parcel ID Number : 32-39-33-00001 -0150-00002 .0 GENERAL WARRANTY DEED This deed, made as of this 30th day of August, 2013 , by Bamaric of VB, LLC , a Florida limited liability company (as Grantor) ; and Indian River County, a political subdivision of the State of Florida , whose post office address is : 180127th St, Vero Beach, FL 32960 (as Grantee) ; (Wherever used herein, the terms "grantor" and "grantee " shall include singular andp/ural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits or requires) WITNESSETH : That the grantor, for and in consideration of the sum of $ 10 .00 in hand paid by grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto the grantee forever, all the right, title, interest, claim and demand which the said grantor has in and to the. following described parcel of land, to wit: The West 134.3 feet of the South 270 feet of the West 10 acres of Tract 15, Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 2 , at Page(s) 25 , of the Public Records of St. Lucie County Florida ; said lands now lying and being in Indian River County, Florida. LESS AND EXCEPT that part of 26th Street (Walker Avenue) as reserved in Plat Book 14, at Pages 18 & 18A. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD the same in fee simple forever. AND grantor hereby covenants with grantee that grantor is lawfully seized of said land in fee simple ; that grantor has good right and lawful authority to sell and convey said land; that grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency 6 . An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action , describing any part of the Land , is recorded in the Public Records , but only to the extent of the enforcement referred to in that notice . 7 . The exercise of the rights of eminent domain if a notice of the exercise , describing any part of the Land , is recorded in the Public Records . 8 . Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge . 9 . Title being vested other than as stated in Schedule A or being defective (a ) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors ' rights laws ; or ( b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records ( i ) to be timely, or ( ii ) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10 . Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs , attorneys ' fees , and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions . EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of ( b) not Known to the Company, not recorded in the Public this policy , and the Company will not pay loss or damage, costs , Records at Date of Policy, but Known to the Insured Claimant attorneys' fees , or expenses that arise by reason of: and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an 1 . ( a ) Any law, ordinance , permit , or governmental regulation Insured under this policy; ( including those relating to building and zoning ) restricting , ( c ) resulting in no loss or damage to the Insured Claimant, regulating , prohibiting , or relating to (d ) attaching or created subsequent to Date of Policy; or ( e ) resulting in loss or damage that would not have been ( i ) the occupancy, use , or enjoyment of the Land ; sustained if the Insured Claimant had paid value for the Title . ( ii ) the character, dimensions , or location of any improvement erected on the Land ; 4. Any claim , by reason of the operation of federal bankruptcy, state ( iii ) the subdivision of land ; or insolvency, or similar creditors ' rights laws, that the transaction ( iv) environmental protection ; vesting the Title as shown in Schedule A, is or the effect of any violation of these laws , (a ) a fraudulent conveyance or fraudulent transfer, or ordinances , or governmental regulations . This ( b) a preferential transfer for any reason not stated in Covered Exclusion 1 ( a ) does not modify or limit the Risk 9 of this policy . coverage provided under Covered Risk 5 . ( b) Any governmental police power. This Exclusion 1 ( b ) does 5 . Any lien on the Title for real estate taxes or assessments imposed not modify or limit the coverage provided under Covered Risk 6 , by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument 2 . Rights of eminent domain . This Exclusion does not modify or limit of transfer in the Public Records that vests Title as shown in the coverage provided under Covered Risk 7 or 8 . Schedule A . 3 . Defects, liens , encumbrances , adverse claims , or other matters (a ) created , suffered , assumed , or agreed to by the Insured Claimant; ORT Form 4309 FL . ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications) Page 2 6 . An enforcement action based on the exercise of a governmental police power not covered by Covered Risk 5 if a notice of the enforcement action , describing any part of the Land , is recorded in the Public Records , but only to the extent of the enforcement referred to in that notice . 7 . The exercise of the rights of eminent domain if a notice of the exercise , describing any part of the Land , is recorded in the Public Records . 8 . Any taking by a governmental body that has occurred and is binding on the rights of a purchaser for value without Knowledge . 9 . Title being vested other than as stated in Schedule A or being defective (a ) as a result of the avoidance in whole or in part, or from a court order providing an alternative remedy, of a transfer of all or any part of the title to or any interest in the Land occurring prior to the transaction vesting Title as shown in Schedule A because that prior transfer constituted a fraudulent or preferential transfer under federal bankruptcy, state insolvency, or similar creditors ' rights laws ; or ( b) because the instrument of transfer vesting Title as shown in Schedule A constitutes a preferential transfer under federal bankruptcy, state insolvency, or similar creditors' rights laws by reason of the failure of its recording in the Public Records ( i ) to be timely, or ( ii ) to impart notice of its existence to a purchaser for value or to a judgment or lien creditor. 10 . Any defect in or lien or encumbrance on the Title or other matter included in Covered Risks 1 through 9 that has been created or attached or has been filed or recorded in the Public Records subsequent to Date of Policy and prior to the recording of the deed or other instrument of transfer in the Public Records that vests Title as shown in Schedule A. The Company will also pay the costs , attorneys ' fees , and expenses incurred in defense of any matter insured against by this Policy, but only to the extent provided in the Conditions . EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of ( b) not Known to the Company, not recorded in the Public this policy , and the Company will not pay loss or damage, costs , Records at Date of Policy, but Known to the Insured Claimant attorneys' fees , or expenses that arise by reason of: and not disclosed in writing to the Company by the Insured Claimant prior to the date the Insured Claimant became an 1 . ( a ) Any law, ordinance , permit , or governmental regulation Insured under this policy; ( including those relating to building and zoning ) restricting , ( c ) resulting in no loss or damage to the Insured Claimant, regulating , prohibiting , or relating to (d ) attaching or created subsequent to Date of Policy; or ( e ) resulting in loss or damage that would not have been ( i ) the occupancy, use , or enjoyment of the Land ; sustained if the Insured Claimant had paid value for the Title . ( ii ) the character, dimensions , or location of any improvement erected on the Land ; 4. Any claim , by reason of the operation of federal bankruptcy, state ( iii ) the subdivision of land ; or insolvency, or similar creditors ' rights laws, that the transaction ( iv) environmental protection ; vesting the Title as shown in Schedule A, is or the effect of any violation of these laws , (a ) a fraudulent conveyance or fraudulent transfer, or ordinances , or governmental regulations . This ( b) a preferential transfer for any reason not stated in Covered Exclusion 1 ( a ) does not modify or limit the Risk 9 of this policy . coverage provided under Covered Risk 5 . ( b) Any governmental police power. This Exclusion 1 ( b ) does 5 . Any lien on the Title for real estate taxes or assessments imposed not modify or limit the coverage provided under Covered Risk 6 , by governmental authority and created or attaching between Date of Policy and the date of recording of the deed or other instrument 2 . Rights of eminent domain . This Exclusion does not modify or limit of transfer in the Public Records that vests Title as shown in the coverage provided under Covered Risk 7 or 8 . Schedule A . 3 . Defects, liens , encumbrances , adverse claims , or other matters (a ) created , suffered , assumed , or agreed to by the Insured Claimant; ORT Form 4309 FL . ALTA Owners Policy of Title Insurance 6-17-06 (with Florida Modifications) Page 2 CONDITIONS 1 , DEFINITION OF TERMS purchase , lease , or lend if there is a contractual condition requiring The following terms when used in this policy mean : the delivery of marketable title . ( a ) "Amount of Insurance " : The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased 2 . CONTINUATION OF INSURANCE by Section 8( b), or decreased by Sections 10 and 11 of these Conditions . The coverage of this policy shall continue in force as of Date of ( b ) " Date of Policy" : The date designated as " Date of Policy" in Policy in favor of an Insured , but only so long as the Insured retains Schedule A. an estate or interest in the Land , or holds an obligation secured by ( c ) " Entity' : A corporation , partnership , trust, limited liability a purchase money Mortgage given by a purchaser from the Insured , company, or other similar legal entity . or only so long as the Insured shall have liability by reason of ( d ) " Insured " : The Insured named in Schedule A . warranties in any transfer or conveyance of the Title . This policy shall not continue in force in favor of any purchaser from the ( i ) The term " Insured " also includes Insured of either ( i ) an estate or interest in the Land , or ( ii ) an (A) successors to the Title of the Insured by operation of law as obligation secured by a purchase money Mortgage given to the distinguished from purchase , including heirs, devisees , survivors, Insured . personal representatives , or next of kin ; ( B ) successors to an Insured by dissolution , merger, consolidation , 3 . NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT distribution , or reorganization , The Insured shall notify the Company promptly in writing ( i ) in case ( C ) successors to an Insured by its conversion to another kind of of any litigation as set forth in Section 5( a ) of these Conditions , ( ii ) Entity; in case Knowledge shall come to an Insured hereunder of any claim ( D ) a grantee of an Insured under a deed delivered without of title or interest that is adverse to the Title , as insured , and that payment of actual valuable consideration conveying the Title might cause loss or damage for which the Company may be liable ( 1 ) if the stock, shares , memberships , or other equity by virtue of this policy, or ( iii ) if the Title , as insured , is rejected as interests of the grantee are wholly- owned by the Unmarketable Title . If the Company is prejudiced by the failure of named Insured , the Insured Claimant to provide prompt notice , the Company's liability to the Insured Claimant under the policy shall be reduced ( 2 ) if the grantee wholly owns the named Insured , to the extent of the prejudice . ( 3 ) if the grantee is wholly- owned by an affiliated Entity of the named Insured , provided the affiliated 4 . PROOF OF LOSS Entity and the named Insured are both wholly-owned In the event the Company is unable to determine the amount of by the same person or Entity, or loss or damage, the Company may, at its option , require as a condition ( 4) if the grantee is a trustee or beneficiary of a trust of payment that the Insured Claimant furnish a signed proof of loss , created by a written instrument established by the The proof of loss must describe the defect, lien , encumbrance , or Insured named in Schedule A for estate planning other matter insured against by this policy that constitutes the purposes . basis of loss or damage and shall state , to the extent possible , the ( ii ) With regard to (A), ( B ►, ( C ), and ( D ) reserving , however, all rights basis of calculating the amount of the loss or damage . and defenses as to any successor that the Company would have had against any predecessor Insured . 5. DEFENSE AND PROSECUTION OF ACTIONS ( a ) Upon written request by the Insured , and subject to the options ( e ) " Insured Claimant " : or Insured claiming loss or damage . ( contained in Section 7 of these Conditions , the Company, at its f) " Knowledge " or " Known " : Actual knowledge , not constructive knowledge or notice that may be imputed to an Insured by reason of own cost and without unreasonable delay, shall provide for the the Public Records or any other records that impart constructive defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation notice of matters affecting the Title . is limited to only those stated causes of action alleging matters ( g ) " Land " : The land described in Schedule A, and affixed improvements insured against by this policy. The Company shall have the right to that by law constitute real property . The term " Land " does not select counsel of its choice (subject to the right of the Insured to include any property beyond the lines of the area described in object for reasonable cause ) to represent the Insured as to those Schedule A, nor any right, title , interest, estate , or easement in stated causes of action . It shall not be liable for and will not pay abutting streets , roads , avenues , alleys , lanes , ways , or waterways , the fees of any other counsel . The Company will not pay any fees, but this does not modify or limit the extent that a right of access to costs, or expenses incurred by the Insured in the defense of those and from the Land is insured by this policy. causes of action that allege matters not insured against by this policy. ( h ) " Mortgage " : Mortgage , deed of trust , trust deed , or other security ( b) The Company shall have the right, in addition to the options instrument, including one evidenced by electronic means authorized contained in Section 7 of these Conditions , at its own cost, to by law. institute and prosecute any action or proceeding or to do any ( i ) " Public Records " : Records established under state statutes at other act that in its opinion may be necessary or desirable to Date of Policy for the purpose of imparting constructive notice of establish the Title , as insured , or to prevent or reduce loss or matters relating to real property to purchasers for value and without damage to the Insured . The Company may take any appropriate action under the terms of this policy, whether or not it shall be Knowledge . With respect to Covered Risk 5( d ), " Public Records " liable to the Insured . The exercise of these rights shall not be an shall also include environmental protection liens filed in the records admission of liability or waiver of any provision of this policy. of the clerk of the United States District Court for the district where If the Company exercises its rights under this subsection , it must the Land is located . do so diligently. (j ) "Title " : The estate or interest described in Schedule A. (c ) Whenever the Company brings an action or asserts a defense ( k) " Unmarketable Title " : Title affected by an alleged or apparent as required or permitted by this policy, the Company may pursue matter that would permit a prospective purchaser or lessee of the the litigation to a final determination by a court of competent Title or lender on the Title to be released from the obligation to jurisdiction , and it expressly reserves the right, in its sole ORT Form 4309 FL discretion , to appeal any adverse judgment or order. ALTA Owners Policy of Title Insurance 6. 17.06 (with Florida Modifications) Page 3 CONDITIONS 1 , DEFINITION OF TERMS purchase , lease , or lend if there is a contractual condition requiring The following terms when used in this policy mean : the delivery of marketable title . ( a ) "Amount of Insurance " : The amount stated in Schedule A, as may be increased or decreased by endorsement to this policy, increased 2 . CONTINUATION OF INSURANCE by Section 8( b), or decreased by Sections 10 and 11 of these Conditions . The coverage of this policy shall continue in force as of Date of ( b ) " Date of Policy" : The date designated as " Date of Policy" in Policy in favor of an Insured , but only so long as the Insured retains Schedule A. an estate or interest in the Land , or holds an obligation secured by ( c ) " Entity' : A corporation , partnership , trust, limited liability a purchase money Mortgage given by a purchaser from the Insured , company, or other similar legal entity . or only so long as the Insured shall have liability by reason of ( d ) " Insured " : The Insured named in Schedule A . warranties in any transfer or conveyance of the Title . This policy shall not continue in force in favor of any purchaser from the ( i ) The term " Insured " also includes Insured of either ( i ) an estate or interest in the Land , or ( ii ) an (A) successors to the Title of the Insured by operation of law as obligation secured by a purchase money Mortgage given to the distinguished from purchase , including heirs, devisees , survivors, Insured . personal representatives , or next of kin ; ( B ) successors to an Insured by dissolution , merger, consolidation , 3 . NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT distribution , or reorganization , The Insured shall notify the Company promptly in writing ( i ) in case ( C ) successors to an Insured by its conversion to another kind of of any litigation as set forth in Section 5( a ) of these Conditions , ( ii ) Entity; in case Knowledge shall come to an Insured hereunder of any claim ( D ) a grantee of an Insured under a deed delivered without of title or interest that is adverse to the Title , as insured , and that payment of actual valuable consideration conveying the Title might cause loss or damage for which the Company may be liable ( 1 ) if the stock, shares , memberships , or other equity by virtue of this policy, or ( iii ) if the Title , as insured , is rejected as interests of the grantee are wholly- owned by the Unmarketable Title . If the Company is prejudiced by the failure of named Insured , the Insured Claimant to provide prompt notice , the Company's liability to the Insured Claimant under the policy shall be reduced ( 2 ) if the grantee wholly owns the named Insured , to the extent of the prejudice . ( 3 ) if the grantee is wholly- owned by an affiliated Entity of the named Insured , provided the affiliated 4 . PROOF OF LOSS Entity and the named Insured are both wholly-owned In the event the Company is unable to determine the amount of by the same person or Entity, or loss or damage, the Company may, at its option , require as a condition ( 4) if the grantee is a trustee or beneficiary of a trust of payment that the Insured Claimant furnish a signed proof of loss , created by a written instrument established by the The proof of loss must describe the defect, lien , encumbrance , or Insured named in Schedule A for estate planning other matter insured against by this policy that constitutes the purposes . basis of loss or damage and shall state , to the extent possible , the ( ii ) With regard to (A), ( B ►, ( C ), and ( D ) reserving , however, all rights basis of calculating the amount of the loss or damage . and defenses as to any successor that the Company would have had against any predecessor Insured . 5. DEFENSE AND PROSECUTION OF ACTIONS ( a ) Upon written request by the Insured , and subject to the options ( e ) " Insured Claimant " : or Insured claiming loss or damage . ( contained in Section 7 of these Conditions , the Company, at its f) " Knowledge " or " Known " : Actual knowledge , not constructive knowledge or notice that may be imputed to an Insured by reason of own cost and without unreasonable delay, shall provide for the the Public Records or any other records that impart constructive defense of an Insured in litigation in which any third party asserts a claim covered by this policy adverse to the Insured. This obligation notice of matters affecting the Title . is limited to only those stated causes of action alleging matters ( g ) " Land " : The land described in Schedule A, and affixed improvements insured against by this policy. The Company shall have the right to that by law constitute real property . The term " Land " does not select counsel of its choice (subject to the right of the Insured to include any property beyond the lines of the area described in object for reasonable cause ) to represent the Insured as to those Schedule A, nor any right, title , interest, estate , or easement in stated causes of action . It shall not be liable for and will not pay abutting streets , roads , avenues , alleys , lanes , ways , or waterways , the fees of any other counsel . The Company will not pay any fees, but this does not modify or limit the extent that a right of access to costs, or expenses incurred by the Insured in the defense of those and from the Land is insured by this policy. causes of action that allege matters not insured against by this policy. ( h ) " Mortgage " : Mortgage , deed of trust , trust deed , or other security ( b) The Company shall have the right, in addition to the options instrument, including one evidenced by electronic means authorized contained in Section 7 of these Conditions , at its own cost, to by law. institute and prosecute any action or proceeding or to do any ( i ) " Public Records " : Records established under state statutes at other act that in its opinion may be necessary or desirable to Date of Policy for the purpose of imparting constructive notice of establish the Title , as insured , or to prevent or reduce loss or matters relating to real property to purchasers for value and without damage to the Insured . The Company may take any appropriate action under the terms of this policy, whether or not it shall be Knowledge . With respect to Covered Risk 5( d ), " Public Records " liable to the Insured . The exercise of these rights shall not be an shall also include environmental protection liens filed in the records admission of liability or waiver of any provision of this policy. of the clerk of the United States District Court for the district where If the Company exercises its rights under this subsection , it must the Land is located . do so diligently. (j ) "Title " : The estate or interest described in Schedule A. (c ) Whenever the Company brings an action or asserts a defense ( k) " Unmarketable Title " : Title affected by an alleged or apparent as required or permitted by this policy, the Company may pursue matter that would permit a prospective purchaser or lessee of the the litigation to a final determination by a court of competent Title or lender on the Title to be released from the obligation to jurisdiction , and it expressly reserves the right, in its sole ORT Form 4309 FL discretion , to appeal any adverse judgment or order. ALTA Owners Policy of Title Insurance 6. 17.06 (with Florida Modifications) Page 3 and easements of record , if any ; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same) . IN WITNESS WHEREOF, the said grantor has caused these presents to be signed and sealed in its name, as of the day and year first above written . Bamaric of VB, LLC , a Florida limited liability company [AFFIX CORPORATE SEAL] By : Frederick W. Baker its Manager S . Mark Baker is Manager Grantor' s Mailing Address : 9015 Americana Road #9 Vero Beach , FL 32966 Signed, sealed and delivered in th rese of State of FLORIDA County of INDIAN RIVER The foregoing instrument was acknowledged before me the date hereinafter given , by Frederick W. Baker and Mark S. Baker; as Managers of the corporation/partnership/LLC named herein as the grantor, on behalf of the corporation/partnership/LLC ; and who was/were either person illyknQwn to me ; or produced identification of sufficient character so as to identify said individual (s) with reasonable certainty ; and who did/did not take an oath . Witness my hand and official seal in the County and State last aforesaid, this 30th day of August, 2013 . �; �Y P„••.,, JASON A . BEAL Notary Public - State of Florida My Comm . Expires Oct 11 , 2016 Notary PUb11C •I' 1111, �:� Commission # EE 836130 Bonded Through National Notary Assn . ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency CONDITIONS (con 't) 6 . DUTY OF INSURED CLAIMANT TO COOPERATE policy . In addition , the Company will pay any costs , attorneys ' fees , ( a ) In all cases where this policy permits or requires the Company and expenses incurred by the Insured Claimant that were authorized to prosecute or provide for the defense of any action or proceeding by the Company up to the time of payment and that the Company is and any appeals , the Insured shall secure to the Company the right obligated to pay; or to so prosecute or provide defense in the action or proceeding , ( ii ) to pay or otherwise settle with the Insured Claimant the loss or including the right to use , at its option , the name of the Insured for damage provided for under this policy, together with any costs, this purpose . Whenever requested by the Company, the Insured , attorneys ' fees , and expenses incurred by the Insured Claimant that at the Company' s expense , shall give the Company all reasonable were authorized by the Company up to the time of payment and that aid ( i ) in securing evidence , obtaining witnesses , prosecuting or the Company is obligated to pay. defending the action or proceeding , or effecting settlement, and ( ii ) in any other lawful act that in the opinion of the Company may Upon the exercise by the Company of either of the options provided be necessary or desirable to establish the Title or any other matter for in subsections ( b)( i ) or ( ii ), the Company' s obligations to the as insured . If the Company is prejudiced by the failure of the Insured under this policy for the claimed loss or damage, other than Insured to furnish the required cooperation , the Company's obligations the payments required to be made , shall terminate , including any to the Insured under the policy shall terminate , including any liability or obligation to defend , prosecute , or continue any liability or obligation to defend , prosecute, or continue any litigation , litigation . with regard to the matter or matters requiring such cooperation . ( b ) The Company may reasonably require the Insured Claimant to g, DETERMINATION AND EXTENT OF LIABILITY submit to examination under oath by any authorized representative This policy is a contract of indemnity against actual monetary loss or of the Company and to produce for examination , inspection , and damage sustained or incurred by the Insured Claimant who has suffered copying , at such reasonable times and places as may be designated loss or damage by reason of matters insured against by this policy. by the authorized representative of the Company, all records, in ( a ) The extent of liability of the Company for loss or damage under whatever medium maintained , including books , ledgers , checks, this policy shall not exceed the lesser of memoranda , correspondence , reports , e- mails , disks , tapes , and ( i ) the Amount of Insurance ; or videos whether bearing a date before or after Date of Policy, that ( ii ) the difference between the value of the Title as insured and the reasonably pertain to the loss or damage . Further, if requested by value of the Title subject to the risk insured against by this policy. any authorized representative of the Company, the Insured Claimant ( b ) If the Company pursues its rights under Section 5 of these shall grant its permission, in writing , for any authorized representative Conditions and is unsuccessful in establishing the Title , as insured , of the Company to examine , inspect , and copy all of these records ( i ) the Amount of Insurance shall be increased by 10 % . and in the custody or control of a third party that reasonably pertain to ( ii ) the Insured Claimant shall have the right to have the loss or the loss or damage . All information designated as confidential by damage determined either as of the date the claim was made by the Insured Claimant provided to the Company pursuant to this the Insured Claimant or as of the date it is settled and paid . Section shall not be disclosed to others unless , in the reasonable ( c ) In addition to the extent of liability under ( a ) and ( b), the Company judgment of the Company, it is necessary in the administration of will also pay those costs, attorneys ' fees , and expenses incurred in the claim . Failure of the Insured Claimant to submit for examination accordance with Sections 5 and 7 of these Conditions . under oath , produce any reasonably requested information , or grant permission to secure reasonably necessary information from g, LIMITATION OF LIABILITY third parties as required in this subsection , unless prohibited by ( a ) If the Company establishes the Title , or removes the alleged law or governmental regulation , shall terminate any liability of the defect, lien , or encumbrance , or cures the lack of a right of access Company under this policy as to that claim . to or from the Land , or cures the claim of Unmarketable Title , all as insured , in a reasonably diligent manner by any method , including 7 . OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; litigation and the completion of any appeals , it shall have fully TERMINATION OF LIABILITY performed its obligations with respect to that matter and shall not In case of a claim under this policy, the Company shall have the be liable for any loss or damage caused to the Insured . following additional options : ( b) In the event of any litigation , including litigation by the Company ( a ) To Pay or Tender Payment of the Amount of Insurance , or with the Company' s consent, the Company shall have no liability To pay or tender payment of the Amount of Insurance under this for loss or damage until there has been a final determination by a policy together with any costs , attorneys' fees , and expenses court of competent jurisdiction , and disposition of all appeals , incurred by the Insured Claimant that were authorized by the adverse to the Title , as insured . Company up to the time of payment or tender of payment and that ( c ) The Company shall not be liable for loss or damage to the the Company is obligated to pay . Insured for liability voluntarily assumed by the Insured in settling Upon the exercise by the Company of this option , all liability and any claim or suit without the prior written consent of the Company. obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection , shall terminate, 10 . REDUCTION OF INSURANCE; REDUCTION OR TERMINATION including any liability or obligation to defend , prosecute , or contin- OF LIABILITY ue any litigation . All payments under this policy, except payments made for costs , ( b) To Pay or Otherwise Settle With Parties Other Than the Insured attorneys ' fees , and expenses , shall reduce the Amount of Insurance or With the Insured Claimant. by the amount of the payment. ( i ) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this ORT Form 4309 FL ALTA Owners Policy of Title Insurance 6.17.06 (with Florida Modifications) Page 4 CONDITIONS (con 't) 6 . DUTY OF INSURED CLAIMANT TO COOPERATE policy . In addition , the Company will pay any costs , attorneys ' fees , ( a ) In all cases where this policy permits or requires the Company and expenses incurred by the Insured Claimant that were authorized to prosecute or provide for the defense of any action or proceeding by the Company up to the time of payment and that the Company is and any appeals , the Insured shall secure to the Company the right obligated to pay; or to so prosecute or provide defense in the action or proceeding , ( ii ) to pay or otherwise settle with the Insured Claimant the loss or including the right to use , at its option , the name of the Insured for damage provided for under this policy, together with any costs, this purpose . Whenever requested by the Company, the Insured , attorneys ' fees , and expenses incurred by the Insured Claimant that at the Company' s expense , shall give the Company all reasonable were authorized by the Company up to the time of payment and that aid ( i ) in securing evidence , obtaining witnesses , prosecuting or the Company is obligated to pay. defending the action or proceeding , or effecting settlement, and ( ii ) in any other lawful act that in the opinion of the Company may Upon the exercise by the Company of either of the options provided be necessary or desirable to establish the Title or any other matter for in subsections ( b)( i ) or ( ii ), the Company' s obligations to the as insured . If the Company is prejudiced by the failure of the Insured under this policy for the claimed loss or damage, other than Insured to furnish the required cooperation , the Company's obligations the payments required to be made , shall terminate , including any to the Insured under the policy shall terminate , including any liability or obligation to defend , prosecute , or continue any liability or obligation to defend , prosecute, or continue any litigation , litigation . with regard to the matter or matters requiring such cooperation . ( b ) The Company may reasonably require the Insured Claimant to g, DETERMINATION AND EXTENT OF LIABILITY submit to examination under oath by any authorized representative This policy is a contract of indemnity against actual monetary loss or of the Company and to produce for examination , inspection , and damage sustained or incurred by the Insured Claimant who has suffered copying , at such reasonable times and places as may be designated loss or damage by reason of matters insured against by this policy. by the authorized representative of the Company, all records, in ( a ) The extent of liability of the Company for loss or damage under whatever medium maintained , including books , ledgers , checks, this policy shall not exceed the lesser of memoranda , correspondence , reports , e- mails , disks , tapes , and ( i ) the Amount of Insurance ; or videos whether bearing a date before or after Date of Policy, that ( ii ) the difference between the value of the Title as insured and the reasonably pertain to the loss or damage . Further, if requested by value of the Title subject to the risk insured against by this policy. any authorized representative of the Company, the Insured Claimant ( b ) If the Company pursues its rights under Section 5 of these shall grant its permission, in writing , for any authorized representative Conditions and is unsuccessful in establishing the Title , as insured , of the Company to examine , inspect , and copy all of these records ( i ) the Amount of Insurance shall be increased by 10 % . and in the custody or control of a third party that reasonably pertain to ( ii ) the Insured Claimant shall have the right to have the loss or the loss or damage . All information designated as confidential by damage determined either as of the date the claim was made by the Insured Claimant provided to the Company pursuant to this the Insured Claimant or as of the date it is settled and paid . Section shall not be disclosed to others unless , in the reasonable ( c ) In addition to the extent of liability under ( a ) and ( b), the Company judgment of the Company, it is necessary in the administration of will also pay those costs, attorneys ' fees , and expenses incurred in the claim . Failure of the Insured Claimant to submit for examination accordance with Sections 5 and 7 of these Conditions . under oath , produce any reasonably requested information , or grant permission to secure reasonably necessary information from g, LIMITATION OF LIABILITY third parties as required in this subsection , unless prohibited by ( a ) If the Company establishes the Title , or removes the alleged law or governmental regulation , shall terminate any liability of the defect, lien , or encumbrance , or cures the lack of a right of access Company under this policy as to that claim . to or from the Land , or cures the claim of Unmarketable Title , all as insured , in a reasonably diligent manner by any method , including 7 . OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; litigation and the completion of any appeals , it shall have fully TERMINATION OF LIABILITY performed its obligations with respect to that matter and shall not In case of a claim under this policy, the Company shall have the be liable for any loss or damage caused to the Insured . following additional options : ( b) In the event of any litigation , including litigation by the Company ( a ) To Pay or Tender Payment of the Amount of Insurance , or with the Company' s consent, the Company shall have no liability To pay or tender payment of the Amount of Insurance under this for loss or damage until there has been a final determination by a policy together with any costs , attorneys' fees , and expenses court of competent jurisdiction , and disposition of all appeals , incurred by the Insured Claimant that were authorized by the adverse to the Title , as insured . Company up to the time of payment or tender of payment and that ( c ) The Company shall not be liable for loss or damage to the the Company is obligated to pay . Insured for liability voluntarily assumed by the Insured in settling Upon the exercise by the Company of this option , all liability and any claim or suit without the prior written consent of the Company. obligations of the Company to the Insured under this policy, other than to make the payment required in this subsection , shall terminate, 10 . REDUCTION OF INSURANCE; REDUCTION OR TERMINATION including any liability or obligation to defend , prosecute , or contin- OF LIABILITY ue any litigation . All payments under this policy, except payments made for costs , ( b) To Pay or Otherwise Settle With Parties Other Than the Insured attorneys ' fees , and expenses , shall reduce the Amount of Insurance or With the Insured Claimant. by the amount of the payment. ( i ) to pay or otherwise settle with other parties for or in the name of an Insured Claimant any claim insured against under this ORT Form 4309 FL ALTA Owners Policy of Title Insurance 6.17.06 (with Florida Modifications) Page 4 CONDITIONS ( con 't) 11 . LIABILITY NONCUMULATIVE 15 , LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE The Amount of Insurance shall be reduced by any amount the Company CONTRACT pays under any policy insuring a Mortgage to which exception is taken ( a ) This policy together with all endorsements , if any, attached to it in Schedule B or to which the Insured has agreed , assumed , or taken by the Company is the entire policy and contract between the subject, or which is executed by an Insured after Date of Policy and Insured and the Company. In interpreting any provision of this which is a charge or lien on the Title , and the amount so paid shall be policy, this policy shall be construed as a whole . deemed a payment to the Insured under this policy. ( b ) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim whether or not based on 12 . PAYMENT OF LOSS negligence shall be restricted to this policy. When liability and the extent of loss or damage have been definitely ( c ) Any amendment of or endorsement to this policy must be in fixed in accordance with these Conditions , the payment shall be made writing and authenticated by an authorized person , or expressly within 30 days . incorporated by Schedule A of this policy. ( d ) Each endorsement to this policy issued at any time is made a 13 . RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT part of this policy and is subject to all of its terms and provisions . ( a ) Whenever the Company shall have settled and paid a claim Except as the endorsement expressly states , it does not ( i ) modify under this policy, it shall be subrogated and entitled to the rights of any of the terms and provisions of the policy, ( ii ) modify any prior the Insured Claimant in the Title and all other rights and remedies endorsement, ( iii ) extend the Date of Policy, or ( iv) increase the in respect to the claim that the Insured Claimant has against any Amount of Insurance . person or property, to the extent of the amount of any loss , costs , attorneys ' fees , and expenses paid by the Company. If requested 16 . SEVERABILITY by the Company, the Insured Claimant shall execute documents to In the event any provision of this policy, in whole or in part, is held evidence the transfer to the Company of these rights and remedies . invalid or unenforceable under applicable law, the policy shall be The Insured Claimant shall permit the Company to sue , compromise , deemed not to include that provision or such part held to be invalid , but or settle in the name of the Insured Claimant and to use the name all other provisions shall remain in full force and effect. of the Insured Claimant in any transaction or litigation involving these rights and remedies . 17 . CHOICE OF LAW; FORUM If a payment on account of a claim does not fully cover the loss of ( a ) Choice of Law: The Insured acknowledges the Company has the Insured Claimant, the Company shall defer the exercise of its underwritten the risks covered by this policy and determined the right to recover until after the Insured Claimant shall have recovered premium charged therefor in reliance upon the law affecting interests its loss , in real property and applicable to the interpretation, rights, remedies , ( b) The Company' s right of subrogation includes the rights of the or enforcement of policies of title insurance of the jurisdiction Insured to indemnities , guaranties , other policies of insurance , or where the Land is located . bonds , notwithstanding any terms or conditions contained in those Therefore , the court or an arbitrator shall apply the law of the instruments that address subrogation rights . jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to 14 . ARBITRATION interpret and enforce the terms of this policy. In neither case shall Unless prohibited by applicable law, arbitration pursuant tothe Title the court or arbitrator apply its conflicts of law principles to deter- Insurance Arbitration Rules of the American Arbitration Association mine the applicable law. may be demanded if agreed to by both the Company and the Insured at ( b) Choice of Forum : Any litigation or other proceeding brought by the time of a controversy or claim . Arbitrable matters may include , but the Insured against the Company must be filed only in a state or are not limited to , any controversy or claim between the Company and federal court within the United States of America or its territories the Insured arising out of or relating to this policy, and service of the having appropriate jurisdiction . Company in connection with its issuance or the breach of a policy provision or other obligation . Arbitration pursuant to this policy and 18 . NOTICES, WHERE SENT under the Rules in effect on the date the demand for arbitration is Any notice of claim and any other notice or statement in writing made or, at the option of the Insured , the Rules in effect at Date of required to be given to the Company under this policy must be given to Policy shall be binding upon the parties . The award may include the Company at 400 Second Avenue South , Minneapolis , attorneys' fees only if the laws of the state in which the Land is Minnesota 55401 -2499, Phone : 612-371 - 1111 . located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator( s ) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules . A copy of the Rules may be obtained from the Company upon request . ORT Form 4309 FL ALTA Owners Policy of Title Insurance 6-17.06 (with Florida Modifications) Page 5 CONDITIONS ( con 't) 11 . LIABILITY NONCUMULATIVE 15 , LIABILITY LIMITED TO THIS POLICY; POLICY ENTIRE The Amount of Insurance shall be reduced by any amount the Company CONTRACT pays under any policy insuring a Mortgage to which exception is taken ( a ) This policy together with all endorsements , if any, attached to it in Schedule B or to which the Insured has agreed , assumed , or taken by the Company is the entire policy and contract between the subject, or which is executed by an Insured after Date of Policy and Insured and the Company. In interpreting any provision of this which is a charge or lien on the Title , and the amount so paid shall be policy, this policy shall be construed as a whole . deemed a payment to the Insured under this policy. ( b ) Any claim of loss or damage that arises out of the status of the Title or by any action asserting such claim whether or not based on 12 . PAYMENT OF LOSS negligence shall be restricted to this policy. When liability and the extent of loss or damage have been definitely ( c ) Any amendment of or endorsement to this policy must be in fixed in accordance with these Conditions , the payment shall be made writing and authenticated by an authorized person , or expressly within 30 days . incorporated by Schedule A of this policy. ( d ) Each endorsement to this policy issued at any time is made a 13 . RIGHTS OF RECOVERY UPON PAYMENT OR SETTLEMENT part of this policy and is subject to all of its terms and provisions . ( a ) Whenever the Company shall have settled and paid a claim Except as the endorsement expressly states , it does not ( i ) modify under this policy, it shall be subrogated and entitled to the rights of any of the terms and provisions of the policy, ( ii ) modify any prior the Insured Claimant in the Title and all other rights and remedies endorsement, ( iii ) extend the Date of Policy, or ( iv) increase the in respect to the claim that the Insured Claimant has against any Amount of Insurance . person or property, to the extent of the amount of any loss , costs , attorneys ' fees , and expenses paid by the Company. If requested 16 . SEVERABILITY by the Company, the Insured Claimant shall execute documents to In the event any provision of this policy, in whole or in part, is held evidence the transfer to the Company of these rights and remedies . invalid or unenforceable under applicable law, the policy shall be The Insured Claimant shall permit the Company to sue , compromise , deemed not to include that provision or such part held to be invalid , but or settle in the name of the Insured Claimant and to use the name all other provisions shall remain in full force and effect. of the Insured Claimant in any transaction or litigation involving these rights and remedies . 17 . CHOICE OF LAW; FORUM If a payment on account of a claim does not fully cover the loss of ( a ) Choice of Law: The Insured acknowledges the Company has the Insured Claimant, the Company shall defer the exercise of its underwritten the risks covered by this policy and determined the right to recover until after the Insured Claimant shall have recovered premium charged therefor in reliance upon the law affecting interests its loss , in real property and applicable to the interpretation, rights, remedies , ( b) The Company' s right of subrogation includes the rights of the or enforcement of policies of title insurance of the jurisdiction Insured to indemnities , guaranties , other policies of insurance , or where the Land is located . bonds , notwithstanding any terms or conditions contained in those Therefore , the court or an arbitrator shall apply the law of the instruments that address subrogation rights . jurisdiction where the Land is located to determine the validity of claims against the Title that are adverse to the Insured and to 14 . ARBITRATION interpret and enforce the terms of this policy. In neither case shall Unless prohibited by applicable law, arbitration pursuant tothe Title the court or arbitrator apply its conflicts of law principles to deter- Insurance Arbitration Rules of the American Arbitration Association mine the applicable law. may be demanded if agreed to by both the Company and the Insured at ( b) Choice of Forum : Any litigation or other proceeding brought by the time of a controversy or claim . Arbitrable matters may include , but the Insured against the Company must be filed only in a state or are not limited to , any controversy or claim between the Company and federal court within the United States of America or its territories the Insured arising out of or relating to this policy, and service of the having appropriate jurisdiction . Company in connection with its issuance or the breach of a policy provision or other obligation . Arbitration pursuant to this policy and 18 . NOTICES, WHERE SENT under the Rules in effect on the date the demand for arbitration is Any notice of claim and any other notice or statement in writing made or, at the option of the Insured , the Rules in effect at Date of required to be given to the Company under this policy must be given to Policy shall be binding upon the parties . The award may include the Company at 400 Second Avenue South , Minneapolis , attorneys' fees only if the laws of the state in which the Land is Minnesota 55401 -2499, Phone : 612-371 - 1111 . located permit a court to award attorneys' fees to a prevailing party. Judgment upon the award rendered by the Arbitrator( s ) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules . A copy of the Rules may be obtained from the Company upon request . 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CS CS O O lir" G O U ' co Z E o ' O � o o o wcd diiM O c Cd olie �4 61 1 ri ee 14U ° O N O O O Cc to cd z lid ` _ ie I N s-, rdie , �} N R Cd �; N .61515 yU, . � ' � N U N i O O� ^d eA"i Qq eiiO N E ZZ OEn lee V N N S O O wrz U_ MCI 0 U O � 4 A. Settlement Statement Prepared by : Atlantic Coastal Land Title Company, LLC 855 21st Street, Suite C, Vero Beach, Florida 32960 B. T e of Loan 6. File Number 7. Loan Number 8. Mortgage Insurance Case No. 1 . ❑ FHA 2. ❑ FmHA 3 . ❑ Conv. Unins. 4. ❑ VA 5 . ❑ Conv . Ins. 43080306 C . Note : This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p. o. c. ) " were paid outside the closing; they are shown here for informational purposes and are not included in the totals. D NAME AND ADDRESS OFBUYER Indian River County, a political subdivision of the State of Florida 1801 27th St Vero Beach, FL 32960 ---- --- --------- E NAME AND ADDRESS OFSELMR. Bamaric of VB, LLC, a Florida limited liability company 9015 Americana Road #9 Vero Beach, FL 32966 F. NAME. AND ADDRESS DF LENDER. None - Cash <, PROPERTY Lex A, ION 5020 26`b St., Vero Beach, FL 32966 --- -- -- ._ -__- .-- 1. SFTrtEM1ENT DATE. „ SF,T� ENTAOENT Atlantic Coastal Land Title Company, LLC PLALEOFSErEUMENT. 855 21st Street, Suite C, Vero Beach, Florida 32960 September 3rd 2013 I. MUMMARY;pF BUYER'S TRANSAC rIPN K. SUMMARY. 0 3E1 I IyR'.3 TRANSACTION 101 . Contract Sales Price $ 72,911 .41 401 . Contract Sales Price $ 72,911 .41 102. PersonalProperty - 402. Personal Property - _ 103 . Settlement charges to BUYER: $ 793 .95 403 . 104. - - - 404. - --- - - 105 . 405 . ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: ADJUSTMENTS FOR ITEMS PAID,BY SELLER IN ADVANCE: 107 . County Taxes l / 1 / 13 to Closing Date _ $- _ - _412.07 _407 . County Taxes Closing Date to 12/31 $ -0.00 - - - - - 408 . Assessments to 108 . Assessments to - - - - - - 409 , 109 . 4 110, 10, 111 . 411 . - -- - 412. 112. 120, GROSS DUE FM BUYER: $ 741117.43 420. GROSS DUE TO SELLER: $ 729911 .41 201 . Deposit or earnest money a ss deposit (see instructions) 202 . Principal amt of new loan $ 0.00 ment Charges to seller $ 0.00 203 . Existing loans taken subject to - _- ing loans taken subject to - - -- 204 ff of first mortgage loan 205 . ff of second mortgage loan 206 207 . - - - --208 .209 . ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: ADJUSTMENTS Fl7R ITEMS UNPAID BY SELLER:- - 211 . County Taxes 1/1 - Closing Date $ 0.00 511 . County taxes 1/1 - Closing Date $ - 0.00 -- _-- - - - - ---- -- 512. Assessments to 212. Assessments to 213 . -- --- 513 . ----- - - --- .. - - - - - -- 514. 214. ---- - ---- - - -- - 515 . - -- - 215 . - - - - 516. 216. _ . - - - - - - . - -- -- - -- - - 217 . 517 - - -- 218 . - - 518 - - - - 219. 519 . 0.00 5200 TOTAL REDUCTIONS IN $ 0.00 220. TOTAL PAID BY/FOR BUYER: $ AMOUNT DUE TO SELLER: due to seller $ 72,911 .41 74, 117 .43 601 . Gross amt 301 . Gross amt due from BUYER $ - -- - ------ -- -- -- -- -- _- _ - -- -- --- ---- _- _ 0.00 302. Less amt paid by/for BUYER $ 0.00 602 . Less reductions In amt due seller 303. CASH FROM BORROWER: $ 74,117 .43 603. CASH TO SELLER: $ 729911 .41 HUD- 1 (3 -86) RESPA, HB 4305 .2 A. Settlement Statement Prepared by : Atlantic Coastal Land Title Company, LLC 855 21st Street, Suite C, Vero Beach, Florida 32960 B. T e of Loan 6. File Number 7. Loan Number 8. Mortgage Insurance Case No. 1 . ❑ FHA 2. ❑ FmHA 3 . ❑ Conv. Unins. 4. ❑ VA 5 . ❑ Conv . Ins. 43080306 C . Note : This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p. o. c. ) " were paid outside the closing; they are shown here for informational purposes and are not included in the totals. D NAME AND ADDRESS OFBUYER Indian River County, a political subdivision of the State of Florida 1801 27th St Vero Beach, FL 32960 ---- --- --------- E NAME AND ADDRESS OFSELMR. Bamaric of VB, LLC, a Florida limited liability company 9015 Americana Road #9 Vero Beach, FL 32966 F. NAME. AND ADDRESS DF LENDER. None - Cash <, PROPERTY Lex A, ION 5020 26`b St., Vero Beach, FL 32966 --- -- -- ._ -__- .-- 1. SFTrtEM1ENT DATE. „ SF,T� ENTAOENT Atlantic Coastal Land Title Company, LLC PLALEOFSErEUMENT. 855 21st Street, Suite C, Vero Beach, Florida 32960 September 3rd 2013 I. MUMMARY;pF BUYER'S TRANSAC rIPN K. SUMMARY. 0 3E1 I IyR'.3 TRANSACTION 101 . Contract Sales Price $ 72,911 .41 401 . Contract Sales Price $ 72,911 .41 102. PersonalProperty - 402. Personal Property - _ 103 . Settlement charges to BUYER: $ 793 .95 403 . 104. - - - 404. - --- - - 105 . 405 . ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: ADJUSTMENTS FOR ITEMS PAID,BY SELLER IN ADVANCE: 107 . County Taxes l / 1 / 13 to Closing Date _ $- _ - _412.07 _407 . County Taxes Closing Date to 12/31 $ -0.00 - - - - - 408 . Assessments to 108 . Assessments to - - - - - - 409 , 109 . 4 110, 10, 111 . 411 . - -- - 412. 112. 120, GROSS DUE FM BUYER: $ 741117.43 420. GROSS DUE TO SELLER: $ 729911 .41 201 . Deposit or earnest money a ss deposit (see instructions) 202 . Principal amt of new loan $ 0.00 ment Charges to seller $ 0.00 203 . Existing loans taken subject to - _- ing loans taken subject to - - -- 204 ff of first mortgage loan 205 . ff of second mortgage loan 206 207 . - - - --208 .209 . ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: ADJUSTMENTS Fl7R ITEMS UNPAID BY SELLER:- - 211 . County Taxes 1/1 - Closing Date $ 0.00 511 . County taxes 1/1 - Closing Date $ - 0.00 -- _-- - - - - ---- -- 512. Assessments to 212. Assessments to 213 . -- --- 513 . ----- - - --- .. - - - - - -- 514. 214. ---- - ---- - - -- - 515 . - -- - 215 . - - - - 516. 216. _ . - - - - - - . - -- -- - -- - - 217 . 517 - - -- 218 . - - 518 - - - - 219. 519 . 0.00 5200 TOTAL REDUCTIONS IN $ 0.00 220. TOTAL PAID BY/FOR BUYER: $ AMOUNT DUE TO SELLER: due to seller $ 72,911 .41 74, 117 .43 601 . Gross amt 301 . Gross amt due from BUYER $ - -- - ------ -- -- -- -- -- _- _ - -- -- --- ---- _- _ 0.00 302. Less amt paid by/for BUYER $ 0.00 602 . Less reductions In amt due seller 303. CASH FROM BORROWER: $ 74,117 .43 603. CASH TO SELLER: $ 729911 .41 HUD- 1 (3 -86) RESPA, HB 4305 .2 L SETTLEMENT CHARGES 700, TOTAL SALES/BROKER'S COMMISSION: $, BASED ON PRICE OF $72,911 .41 , PBUYERSSM PAID FROM @ % = $ FUNDS AT FUNDS AT MUMS SETTLEMENT SETTLEMENT to to 703 . Commission paid at settlement 801 . an Origination fee % to 802. Loan Discount % to - -- -------------------- 803 . Appraisal Fee to: _ - --_------ -- -- -- 804. Credit Report to: 805 . Lender's Inspection fee to: - - - - 806. Mortgage Insurance application fee to: - 807 . Assumption fee to: 808 . 809. - - 810. _ 811 . 901 . Interest from to @ $ /day - - -- 902. Mortgage insurance premium for mos to 903 . Hazard insurance premium for yrs to 904 . Flood insurance premium for yrs to -- - -- - --- - - 905 . _ - - ---- - 1001 . Hazard insurance months @ $ per month 1002. Mortgage insurance months @ $ per month 1004. County property taxes months @ $ per month 1006. Flood insurance months @ $ per month 1007 . Aggregate Adjustment Amount 225 .00 $ 0.00 1101 . Settlement or closing fee to Atlantic Coastal Land Title Company, LLC $ g5 .00 $ 0.00 1102. Abstract or title search to Atlantic Coastal Land Title Company, LLC $-- - -- -0-� 1103 . Title Examination to Atlantic Coastal Land Title Company, LLC ---- 1104. Title insurance binder to - "- - - 1105 . Document In to - - ---- 1106. Notary fees to - - - - - 1107 . Attorney's fees to 419.75 $ 1108. Title insurance to Atlantic Coastal Land Title Company, LLC $419.75 $ 1109. Lender's coverage $ 1110. Owner's coverage_$ - --- 1111 . Florida Comprehensive Endorsement (Form 9) 1112. ALTA Environmental Protection Lien Endorsement Form 8 . 1 1113 1114. 1115. $ 28 .50 1201 . Recording fees : Deed $ 18 .50 ; Affidavit: $ 10.00 $ 0.70 -$ 1203 . State tax/stamps : Deed $ ; Mortgage $ ---- - _ _- - - -- $ 0.00 1204. Intangible tax on Mortgage 1206. Mmillijillillilllli 11111 111, 11 111 Ili 111111 11111111 1 1301 . Survey to _ _.- - - ------ --- -- L$� 1302. Pest inspection toF1304. press delivery fees to Atlantic Coastal Land Title Company, LLCz0 DDgital Archive Fee to Forensis Technologies 15 .00 ire Transfer Fee to CenterState Bank 4Section 1309. -- 1310. 1311 . 1312, 111 NINE MR ME 1400, TOTAL SETTLEMENT CHARGES (Enter on line 793.95 $ 0.00 L SETTLEMENT CHARGES 700, TOTAL SALES/BROKER'S COMMISSION: $, BASED ON PRICE OF $72,911 .41 , PBUYERSSM PAID FROM @ % = $ FUNDS AT FUNDS AT MUMS SETTLEMENT SETTLEMENT to to 703 . Commission paid at settlement 801 . an Origination fee % to 802. Loan Discount % to - -- -------------------- 803 . Appraisal Fee to: _ - --_------ -- -- -- 804. Credit Report to: 805 . Lender's Inspection fee to: - - - - 806. Mortgage Insurance application fee to: - 807 . Assumption fee to: 808 . 809. - - 810. _ 811 . 901 . Interest from to @ $ /day - - -- 902. Mortgage insurance premium for mos to 903 . Hazard insurance premium for yrs to 904 . Flood insurance premium for yrs to -- - -- - --- - - 905 . _ - - ---- - 1001 . Hazard insurance months @ $ per month 1002. Mortgage insurance months @ $ per month 1004. County property taxes months @ $ per month 1006. Flood insurance months @ $ per month 1007 . Aggregate Adjustment Amount 225 .00 $ 0.00 1101 . Settlement or closing fee to Atlantic Coastal Land Title Company, LLC $ g5 .00 $ 0.00 1102. Abstract or title search to Atlantic Coastal Land Title Company, LLC $-- - -- -0-� 1103 . Title Examination to Atlantic Coastal Land Title Company, LLC ---- 1104. Title insurance binder to - "- - - 1105 . Document In to - - ---- 1106. Notary fees to - - - - - 1107 . Attorney's fees to 419.75 $ 1108. Title insurance to Atlantic Coastal Land Title Company, LLC $419.75 $ 1109. Lender's coverage $ 1110. Owner's coverage_$ - --- 1111 . Florida Comprehensive Endorsement (Form 9) 1112. ALTA Environmental Protection Lien Endorsement Form 8 . 1 1113 1114. 1115. $ 28 .50 1201 . Recording fees : Deed $ 18 .50 ; Affidavit: $ 10.00 $ 0.70 -$ 1203 . State tax/stamps : Deed $ ; Mortgage $ ---- - _ _- - - -- $ 0.00 1204. Intangible tax on Mortgage 1206. Mmillijillillilllli 11111 111, 11 111 Ili 111111 11111111 1 1301 . Survey to _ _.- - - ------ --- -- L$� 1302. Pest inspection toF1304. press delivery fees to Atlantic Coastal Land Title Company, LLCz0 DDgital Archive Fee to Forensis Technologies 15 .00 ire Transfer Fee to CenterState Bank 4Section 1309. -- 1310. 1311 . 1312, 111 NINE MR ME 1400, TOTAL SETTLEMENT CHARGES (Enter on line 793.95 $ 0.00 3120130059717 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT INDIAN RIVER COUNTY FL BK: 2703 PG: 1246 Page 1 of 1 9/132013 3 : 55 PM Prepared by and return to , Jason A . Beal Atlantic Coastal Land Title Company, LLC 855 21St St . , Suite C, Vero Beach , FL 32960 Limited Liability Company Affidavit State of FLORIDA County of INDIAN RIVER Before me , the undersigned authority, personally appeared Frederick W . Baker and Mark S . Baker ( "Affiants" ) , who, being duly sworn according to law, depose and say : 1 . Affiants are the managers of Bamaric, LLC, a Florida limited liability company ( the " LLC" ) . 2 . The LLC is currently in existence under valid articles of organization and regulations and has not been terminated or dissolved . 3 . The LLC is the owner of the following described real property : The West 134 . 3 feet of the South 270 feet of the West 10 acres of Tract 15 , Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION , according to the Plat thereof, as recorded in Plat Book 2 , at Page ( s ) 25 , of the Public Records of St . Lucie County Florida ; said lands now lying and being in Indian River County, Florida . LESS AND EXCEPT that part of 26th Street (Walker Avenue ) as reserved in Plat Book 14, at Pages 18 & 18A . ( the " Property" ) 4 . The LLC is not in bankruptcy and , if the LLC is a single member entity, the single member is not in bankruptcy . 5 . Frederick W . Baker and Mark S . Baker are authorized by the articles of organization or operating agreement to execute any instruments affecting the Property on behalf of the LLC. 6 . If a full or partial copy of any document is attached hereto as Exhibit "A" , it shall be incorporated herein and made a part hereof, and Affiant represents that the copy is true and correct . 7 . Under penalties of perjury, Affiant declares that Affiant has read the foregoing document and that the facts stated in it are true . Fre' aker S . a k Baker Sworn to and subscribed before me this 30th day of Augus , 2013 , by Frederick W . Baker and Mark S . Baker who ( ) is personally known to me or ( ) produced the following identification : JASON A. BEAL 4+t Notary Pu0tic - State of Florida a ry Public i• • = My Comm . Expires Oct 11 , 2016 +.; Commission # EE 836130 �� h� n�• •�,,` Bonded Through National Notary Assn . 3120130059717 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT INDIAN RIVER COUNTY FL BK: 2703 PG: 1246 Page 1 of 1 9/132013 3 : 55 PM Prepared by and return to , Jason A . Beal Atlantic Coastal Land Title Company, LLC 855 21St St . , Suite C, Vero Beach , FL 32960 Limited Liability Company Affidavit State of FLORIDA County of INDIAN RIVER Before me , the undersigned authority, personally appeared Frederick W . Baker and Mark S . Baker ( "Affiants" ) , who, being duly sworn according to law, depose and say : 1 . Affiants are the managers of Bamaric, LLC, a Florida limited liability company ( the " LLC" ) . 2 . The LLC is currently in existence under valid articles of organization and regulations and has not been terminated or dissolved . 3 . The LLC is the owner of the following described real property : The West 134 . 3 feet of the South 270 feet of the West 10 acres of Tract 15 , Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION , according to the Plat thereof, as recorded in Plat Book 2 , at Page ( s ) 25 , of the Public Records of St . Lucie County Florida ; said lands now lying and being in Indian River County, Florida . LESS AND EXCEPT that part of 26th Street (Walker Avenue ) as reserved in Plat Book 14, at Pages 18 & 18A . ( the " Property" ) 4 . The LLC is not in bankruptcy and , if the LLC is a single member entity, the single member is not in bankruptcy . 5 . Frederick W . Baker and Mark S . Baker are authorized by the articles of organization or operating agreement to execute any instruments affecting the Property on behalf of the LLC. 6 . If a full or partial copy of any document is attached hereto as Exhibit "A" , it shall be incorporated herein and made a part hereof, and Affiant represents that the copy is true and correct . 7 . Under penalties of perjury, Affiant declares that Affiant has read the foregoing document and that the facts stated in it are true . Fre' aker S . a k Baker Sworn to and subscribed before me this 30th day of Augus , 2013 , by Frederick W . Baker and Mark S . Baker who ( ) is personally known to me or ( ) produced the following identification : JASON A. BEAL 4+t Notary Pu0tic - State of Florida a ry Public i• • = My Comm . Expires Oct 11 , 2016 +.; Commission # EE 836130 �� h� n�• •�,,` Bonded Through National Notary Assn . 1 have carefully reviewed the Settlement Statement and to the best of my luiowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that 1 have received a copy of Settlement Statement. Buyer(s): Indian River County , a political 5tibdiviston of the State of Florida r ' sr ByR. , William K. DeBraal its Deputy County Attorney Sellers: Bamaric of VB , LLC, a Florida limited liability company By: Frederic . Baker its By , its Manager Some costs reflected hereon may be based on good faith estimates that re ,uire post-closing adjustment. Any variations in actual costs from those reflected hereon that result in overcharges or undercharges not + n excess of $25 .OU to any party shall be credited w or debited against closing fees charged by Atlantic Coastal Land Title Company , LLC. It is further understood, and the parties hereto agree, that all funds received by Atlantic Coastal land Title Company , LI .0 may be placed in escrow accounts that may be subject to overnight Repurchase Agreements between Atlantic Coastal and its depository bank. Interest earned as the result of such agreements, if any , is the property of Atlantic Coastal Land Title Company , LLC . The HUD- 1 Settlement Statement which I have prepared is a true urf aceatate account of this transaetion . l have caused or will cause the funds to be disbursed in accordance with this statement . Atlantic Coastal Land Title Company, LLC (Settlement Agent; Closing Date: September 3rd, 2013 WARNING : it is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine or imprisonment. For details see: Title 18 U S . Code Section 1001 and Section 1010. 1 have carefully reviewed the Settlement Statement and to the best of my luiowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that 1 have received a copy of Settlement Statement. Buyer(s): Indian River County , a political 5tibdiviston of the State of Florida r ' sr ByR. , William K. DeBraal its Deputy County Attorney Sellers: Bamaric of VB , LLC, a Florida limited liability company By: Frederic . Baker its By , its Manager Some costs reflected hereon may be based on good faith estimates that re ,uire post-closing adjustment. Any variations in actual costs from those reflected hereon that result in overcharges or undercharges not + n excess of $25 .OU to any party shall be credited w or debited against closing fees charged by Atlantic Coastal Land Title Company , LLC. It is further understood, and the parties hereto agree, that all funds received by Atlantic Coastal land Title Company , LI .0 may be placed in escrow accounts that may be subject to overnight Repurchase Agreements between Atlantic Coastal and its depository bank. Interest earned as the result of such agreements, if any , is the property of Atlantic Coastal Land Title Company , LLC . The HUD- 1 Settlement Statement which I have prepared is a true urf aceatate account of this transaetion . l have caused or will cause the funds to be disbursed in accordance with this statement . Atlantic Coastal Land Title Company, LLC (Settlement Agent; Closing Date: September 3rd, 2013 WARNING : it is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a fine or imprisonment. For details see: Title 18 U S . Code Section 1001 and Section 1010. 3120130059716 RECORDED IN THE PUBLIC RECORDS OF JEFFREY R SMITH , CLERK OF COURT incident to INDIAN RIVER COUNTY FL This instrument was prepared BK: 2703 PG: 1244 Page 1 of 2 9/132013 3 : 55 PM the issuance of a title insurance contract, D DOCTAX PD $0 . 70 and is to be returned to: Jason A. Beal Atlantic Coastal Land Title Company, LLC 855 21 " St. , Suite C Vero Beach, Florida 32.960 ACLT File Number : 43080306 Parcel ID Number : 32-39-33-00001 -0150-00002 .0 GENERAL WARRANTY DEED This deed, made as of this 30th day of August, 2013 , by Bamaric of VB, LLC , a Florida limited liability company (as Grantor) ; and Indian River County, a political subdivision of the State of Florida , whose post office address is : 180127th St, Vero Beach, FL 32960 (as Grantee) ; (Wherever used herein, the terms "grantor" and "grantee " shall include singular andp/ural, heirs, legal representatives, and assigns of individuals, and the successors and assigns of corporations, partnerships or other entities; wherever the context so admits or requires) WITNESSETH : That the grantor, for and in consideration of the sum of $ 10 .00 in hand paid by grantee, the receipt whereof is hereby acknowledged, does hereby grant, bargain, sell, alien, remise, release, convey and confirm unto the grantee forever, all the right, title, interest, claim and demand which the said grantor has in and to the. following described parcel of land, to wit: The West 134.3 feet of the South 270 feet of the West 10 acres of Tract 15, Section 33 , Township 32 South, Range 39 East, INDIAN RIVER FARMS COMPANY SUBDIVISION, according to the Plat thereof, as recorded in Plat Book 2 , at Page(s) 25 , of the Public Records of St. Lucie County Florida ; said lands now lying and being in Indian River County, Florida. LESS AND EXCEPT that part of 26th Street (Walker Avenue) as reserved in Plat Book 14, at Pages 18 & 18A. TOGETHER with all the tenements, hereditaments and appurtenances thereto belonging or in anywise appertaining. TO HAVE AND TO HOLD the same in fee simple forever. AND grantor hereby covenants with grantee that grantor is lawfully seized of said land in fee simple ; that grantor has good right and lawful authority to sell and convey said land; that grantor hereby fully warrants the title to said land and will defend the same against the lawful claims of all persons whomsoever; and that said land is free of all encumbrances, except taxes for the year in which this deed is given; and restrictions, reservations, limitations, covenants, conditions and ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency and easements of record , if any ; insofar as same are valid and enforceable (however, this clause shall not be construed to reimpose same) . IN WITNESS WHEREOF, the said grantor has caused these presents to be signed and sealed in its name, as of the day and year first above written . Bamaric of VB, LLC , a Florida limited liability company [AFFIX CORPORATE SEAL] By : Frederick W. Baker its Manager S . Mark Baker is Manager Grantor' s Mailing Address : 9015 Americana Road #9 Vero Beach , FL 32966 Signed, sealed and delivered in th rese of State of FLORIDA County of INDIAN RIVER The foregoing instrument was acknowledged before me the date hereinafter given , by Frederick W. Baker and Mark S. Baker; as Managers of the corporation/partnership/LLC named herein as the grantor, on behalf of the corporation/partnership/LLC ; and who was/were either person illyknQwn to me ; or produced identification of sufficient character so as to identify said individual (s) with reasonable certainty ; and who did/did not take an oath . Witness my hand and official seal in the County and State last aforesaid, this 30th day of August, 2013 . �; �Y P„••.,, JASON A . BEAL Notary Public - State of Florida My Comm . Expires Oct 11 , 2016 Notary PUb11C •I' 1111, �:� Commission # EE 836130 Bonded Through National Notary Assn . ATLANTIC COASTAL LAND TITLE COMPANY, LLC A Full Service, Florida Title Insurance Agency