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REAL ESTATE PURCHASE I TIF1CATlON ON LAST PAGE Karlin Daniel
AND SALE �QNTRACT �? {' ARTON, CLERK & Associates Inc.
'Associates '
I Licensed Real Estate Broker
4 U� • �' " ' _ - 4285 SW Martin Hwy., Palm City, FL 34990
Dfl) 61 nlA L p � � LIN PAN �� L �� P.O. 2220X25575 FL#AB878AU1207m City, FL 1
THIS PURCHASE AND SALE CONTRACT, made and entered into this 20"' day of June , 201 1,
by and between L J
• i l ) j f j
Indian River Countyd
NAME(S) ADDRESS PHONE
hereinafter re erred to as "Seller" and
�• � e�e.�Pea c � � t d 896 IiA -4 4 1.4T�e,ro P e&iA- 32%3 -(-72 5eq , � 40 Q
NAME ADDRESS PHONE
or their assigns, however no party shall be released from liability under this contract hereinafter referred to as "Buyer". (Any
assignments may result in additional costs.)
WITNESSETH:
That Seller agrees to sell and convey and Buyer agrees to purchase and pay for the following described real estate situated in
Indian River County, State of Florida together with all improvements thereon, more particularly described as follows:
1640 US 1 Sebastian Florida w/PID # 30382100001999900026.0 and being the same property recorded in
OR Book No. 1268 Page No. 20 - 21 at the County Clerk's Office in Vero Beach, Florida
The Buyer agrees to pay therefore the sum of.- $ OND- --bidprice, plus the 10% Buyer's Premium of $ l ,
which together equal the, full contract price of $ t-:76 000.-- therefore:
%(4 c) . full contract price to be paid as.follows:
$ 11, 606 Cash, the receipt of which is hereby acknowledged, and which is deposited in Karlin Daniel &
Associates, Inc. Escrow Account and,
$
$
$ (15 1400• Balance shall be due and payable in full on or before the announced CLOSING DATE, which
CLOSING DATE, shall be on or before July 20, 2011 unless extended by other provisions of
this Contract. Possession of the subject real estate shall occur simultaneously with closing if all
,funds have cleared, and otherwise upon clearance of all funds.
All payments hereunder shall be made in cash, cashiers check, or wire transfer of funds.
Seller agrees to pay all taxes due anal payable through N/A
Buyer agrees to pay all taxes from January 1, 2011 and thereafter
The.following prorations shall be made at Closing as of the Closing Date N/A
PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. Proceeds of the
sale shall be held in escrow by Karlin Daniel & Associates, Inc. (Escrow Agent) until the Escrow Agent is satisfied that all other
terms and conditions of this Contract are satisfied.
ESCROW: Escrow Agent is authorized and agrees by acceptance of any funds to deposit them promptly, hold same in escrow
and, subject to clearance, disburse them in accordance with the terms and conditions of this Contract. In the alternative, Escrow
Agent shall have the right, but not the obligation, in Escrow Agent's sole discretion, to transfer any or all funds held in escrow to
a closing agent agreed upon by Buyer and Seller. In the event of such a transfer, Escrow Agent shall be relieved of all further
liability with respect to the transferred funds, and all funds not yet paid or deposited as required by this Contract shall thereafter
be paid to and deposited with said closing agent. Failure of clearance of funds shall not excuse Buyer's performance. If in doubt
as to Escrow Agent's duties or liabilities under the provisions of this Contract, Escrow Agent may, at Escrow Agent's option,
continue to hold the subject matter of the escrow until the parties mutually agree to its disbursement or until a judgment of a court
of competent jurisdiction shall determine the rights of the parties, or Escrow Agent may, in Escrow Agent's sole discretion,
interplead the subject matter of the escrow, or pursuant to order of Court deposit same, with the Clerk of the Circuit Court having
jurisdiction of the dispute. Upon notifying all parties concerned of such action, all liability on the part of Escrow Agent shall fully
terminate, except to the extent of accounting for any items previously delivered out of escrow. Any suit between Buyer(s) and
Seller wherein Escrow Agent is made a party because of acting as Escrow Agent hereunder, or in any suit wherein Escrow Agent
interpleads the subject matter of the escrow, Escrow Agent shall recover all attorney's fees and costs incurred by Escrow Agent
with the fees and costs to be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in
favor of the prevailing party. Both Seller and Buyer agree that Escrow Agent shall not be liable to any party or person for
misdelivery to Buyer or Seller of items subject to this escrow, unless such misdelivery is due to willful breach of this Contract or
gross negligence of Escrow Agent. Both Seller and Buyer further agree that Karlin Daniel & Associates, Inc.; its agents,
independent contractors, officers, directors and employees will not be held liable to either or both Seller and Buyer for the
performance of any terms of this Purchase and Sale Contract or for damages for the non-performance thereof. The Auctioneer
shall also receive accrued interest on any escrowed funds held by the Auctioneer.
FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of all
deposit(s), the deposit(s) paid by Buyer and deposit(s) agreed to be paid, may be retained by or for the account of Seller as agreed
upon liquidated damages, consideration for the execution of this Contract and in fit]] settlement of any claims; whereupon, Buyer,
Seller, and Karlin Daniel & Associates, Inc. shall be relieved of all obligations under this Contract; or Seller, at Seller's option,
may proceed in equity to enforce Seller's rights under this Contract. If Seller elects to retain the deposits paid by Buyer, such sums
shall be disbursed to Seller and Karlin Daniel & Associates, Inc., in accordance with their Auction Agreement. In addition, in the
event of Buyer's failure of performance as described above, Buyer shall pay to Karlin Daniel & Associates, Inc., the Buyer's
Premium, which amount due from Buyer may be reduced by any amount received by Karlin Daniel & Associates, Inc. from any
forfeited deposit(s) pursuant to t Contract and received by Karlin Daniel & Associates, Inc. pursuant to this Contract and the
SELLER INITIAL BUYER I�
Page two
Real Estate Purchase and Sale Contract
aforesaid Auction Agreement. If for any reason other than failure of Seller to make Seller's title marketable after diligent effort,
Seller fails, neglects or refuses to perform this Contract, the Buyer, as Buyer's sole and mutually exclusive remedies, may either
seek specific performance or elect to receive the return of .Buyer's deposit(s). Buyer(s) hereby waives any action for damages
resulting from Seller's breach.
CONVEYANCE: Seller shall convey title to the Real Property by statutory warranty, trustee's, personal representative's or
guardian's deed, as appropriate to the status of Seller unless this auction is pursuant to an order of the courts having jurisdiction in
the transfer to the subject real estate, in which instance title shall be conveyed in accordance with such order.
OTHER AGREEMENTS: This Contract specifically incorporates by reference all language in the Opening Announcements
of the Auction, whether verbal or in writing, made at the auction of the Real Property and in any and all prior agreements made
between Buyer and Seller's agent, Karlin Daniel & Associates, Inc., including, but not limited to, the Real Estate Auction
Registration for Real Estate and Bid Acknowledgment. Notwithstanding the foregoing, any and each agreement executed prior to
this Contract by Buyer and Karlin Daniel & Associates, Inc., shall not be deemed merged into this Contract, though the terms
therein shall be deemed fully incorporated herein, but shall remain enforceable in their own right, individually and collectively.
As between Buyer(s) and Seller, no other prior or present agreements or representations shall be binding upon Buyer or Seller
unless included in this Contract. No modification to or change in this Contract shall be valid or binding upon the parties unless in
writing and executed by the parties intended to be bound by it.
TITLE MATTERS: The property is sold subject to any easements, restrictions, limitations, rights of way, planning and
zoning regulations, and other matters of record not affecting the marketability of the Property. If the Seller's title is rendered
unmarketable, through no fault of Buyer, Buyer shall, prior to the Closing Date, notify Seller in writing of the defect and Seller
shall have 30 days from date of receipt of such notification to cure the defect. If Seller fails to timely cure the defect, all deposit(s)
and closing funds shall, upon written demand by Buyer and within 5 days after demand, be returned to Buyer.
RISK OF LOSS: The Seller shall deliver the subject real estate to the Buyer in the same condition as found date of auction. In
the event the subject property is destroyed or significantly damaged by fire or other casualty, Seller or Buyer may cancel this
transaction. Buyer shall receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under this
Contract. Seller or Buyer may cancel this transaction upon providing written notice to the other party within seven business days
Of the occurrence of the fire or other casualty or by the scheduled closing date, if earlier.
CAPACITY: All parties signing this Purchase and Sale Contract in any representative capacity represent that they have the
authority to sign on behalf of such party or entity.
PROPERTY TAX DISCLOSURE SUMMARY: Buyer should not rely on the seller's current property taxes as the amount
of property taxes that the buyer may be obligated to pay in the year subsequent to purchase. A change of ownership or property
improvements triggers reassessments of the property that could result in higher property taxes. If you have any questions
concerning valuation, contact the county property appraiser's office for information.
INDEMNIFICATION: The Buyer and Seller, jointly and severally, and their respective agents, employees or any other
parties acting on their behalves, specifically agree to INDEMNIFY AND HOLD HARMLESS Karlin Daniel & Associates, its
officers, directors and employees, for any injuries or damages arising under or pursuant to this Purchase and Sale Contract.
JURISDICTION AND VENUE: The undersigned(s) hereby agree that any suit, action or legal proceeding arising out of or
relating to the auction shall be brought solely and exclusively in the courts of the State of Florida in and for Martin County,
Florida, consent to the jurisdiction of such court in any suit, action or proceeding and waive any objection which they may have to
the laying of venue of any such suit, action or proceeding in such courts. Further, the parties acknowledge and agree that this
Purchase and Sale Contract shall be governed by, construed and enforced in accordance with the internal laws of the State of
Florida without regard to principles of conflicts of laws.
ATTORNEYS FEES: In the event any party is required to take any action to enforce the terms of this Contract, the prevailing
party shall be entitled to recover all of its reasonable attorney's fees and costs. Reasonable attorney's fees shall include those fees
incurred (a) before, during and after litigation, including those incurred in attempting collection without litigation, (b) in litigating
in all trial and appellate levels, (c) in any bankruptcy proceeding and (d) in any post judgment proceeding.
WAIVER OF RIGHT TO A JURY TRIAL: ALL PARTIES HERETO HEREBY WAIVE THEIR RIGHT TO A TRIAL
BY JURY WITH RESPECT TO ANY LITIGATION ARISING IN CONNECTION WITH THIS CONTRACT.
If the sale of the subject real estate is by auction, we hereby certify that we agree and acknowledge that it is subject to all
restrictions and announcements made at the opening of the auction, whether verbal or in writing. We further certify that we have
examined the property described hereinabove; that we are thoroughly acquainted with its conditions and accept it as such.
Buyer(s) shall accept this real estate on an "AS IS" basis with no warranties expressed or implied All closing costs i.e. documentary stamps title
Insurance and any other costs associated with the transfer of deed shall be at the expense of the buyer(s).
BUYER AND SELLER ACKNOWLEDGE THAT THIS CONTRACT HAS BEEN READ AND UNDERSTOOD BY
THEM PRIOR TO SIGNING 1T.
(Seller) Bob Solal Indian
(Buyer)
(Date)
'
River
County
(Seller)
(Buyer)
KARLIN DANIEL & ASSOCIATES, INC
Witness
'`'\000s000000 s��' _
STATE OF FLORIDA
•'�.``F '.INDIAN RIVER COUNTY
THIS IS TO CERTIFYTHATTHIS IS
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