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CONTRACT FOR SALE AND PURCHASE
FLORIDA ASSOCIATIONOF REALTORS AND THIi FLORIDA RAR
PARTIES:---->asadahaK..891dintls. .Inc...
of IZ.4.�4x �Qfl0�3fiso_._IIfaCh.._ILosida.._.32964.------........__.. ... (Phone) _(5511-231-.021() .
and __.38di8{1_BLYIs_C4tlnt�7i'....�-maliiical._uandiVi/ion-of -the -8tat*
--o!_llozi
of �fl50 25�_gSztbt. Vazo alaoh.-ilosidi_ _32954 ------ (.Phone) ._(11_L5.0.44_•
hereby a reethat Sella shall sell and Buyer shall buythe followingReal Property and personal Property (oollertively "Property") upon the fallowingte r nand
condnion4 whidn INCLUDE Standards for Real EsWeTransadions ("Standard(s)") on the reverse side or attached hereto and riders and addenda to this
Contrad for Sale and Pura) am("Contrad").
DESCRIPTION:
(n) Lepl desaiption ofReal PmpatylooKed in indlan Riwr County, Florida: g*&_L4QRj,--DA&QZ,ZJp,_ .
tiot►�_Bxlsibit ^A^ attaohad harato and Isada &_V&ttL hersof. (b) Streateddress, city, zip, ofthe Propedyis: 75th 1►wnua. sitlht-_t:�x�Ya CQunt�p-crass NO• 9803
(c)PersomalPropaty. None.>itlt-6 and A-1 sQnit"arcelp aontlSDiDy 28.173 aauara fast )� 0� .
PLEs$Tt NOTi3 • TBIS CONTRACT IS 81f14JECT TO YNDYl1ti 1u1�R COVNT7f FINI►L I(>+�PROVAI, _
U. PURCIL4SEPRICE...................................................................................................................................................... S-2fl.173,44
PAYMENT:
(a) Deposit held in escrow by — — -- in the amount of ........................ S 0 _
(b) Additional escrow deposit within days after Effective Date (as defined in Paragraph 111) in the amount of .............. $_---Q__
(c) Subject to AND assumption of mongsge in good standmgin favor of
havingan approximate present principal belanceof ....................... S_ 0
(d) Purchase money mortgage and note (see addendum) in the amount of .............................................................................. S_ 0 _
(e)Other: _ S ----0 ---
(f) Balance to dose by U.S. cash, LOCALLY DRAWNartified or cashier's dhedcor thirdpaAy loan, subject to adjustments
andprorations..................................................................................................................................................................... S 28 • l7_l._4_4--_
DI. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE, FACSINJILE. Ifthis offer isnot executed by and delivered to all parties OR FACT OF
EXECUTION communicated in writingbe(ween the parties on or before 15 lova -__ . the deposit(s)vvill, at Buyer's option, berdumed to Buy-
er and this offer withdrawn. The date of Contrad("EffactiveDate")willbethedatewhenthelagoneoftheBuyer and Seller has signed this offer. A facsimile
copy ofthis Conrad and anysighatures hereon shall be considered for all pu poses as originals.
IV. FINANCING:
(a) Ifthe purchase price or any pan ofit isto be fin anced by a Lhird-party loan, this Contract ip conditioned on Buyer obtain ingaATitlen cummilmentwithin
days after Effective Date for (CHECK ONLY ONE): ❑ a fixed; ❑ an adjustable; or ❑ a fixed or adjustable rate loan for the principal
amountofS ,at an initial interest rate not to exceed_ %, discount and origin alion fees not to exceed
% of the principal amount, and a term of years. Buyer will make application within days after Effective Date and use
reasonable diligence to obtain theloan commitment and,thereafta.to satisfy the term and conditionsofthecommitment and dose the loan. Buyer shall
pay all loan expenses. If Buyer failstoobtaunthecommihnentorfailstowaive Buyer's rights under this subparagraphwilhinthe timeforobtabnbnga
commitment or, after diligent effort, fails to nwet the terms and conditionsofthe commiune t,then eitherparty thereafter, by written notice to the
other, may cancel thisContrad and Buyer shallbe refunded thedeposit(s); or
(b) The ex stuig mortgage described in Paragraph 11(c) above has (CHECK ONLY ONE.): ❑ a variable interest rate; or ❑ a fixed interest rate of
% per annum At time oftitle transfer somefixed interest rates are subjectto increase. Ifineeased, the rate shall not exceed %per annum
SellerdhaR,widhin days afterMciveDate,turnishastatementfiomeachmortippestatingprincipalbalance,methodofpayment,¢nerest rate
and status of mortgage. If Buyer It as agreed to assurne a mortgage -Ahich requires approval of Buyer bythe mortgigee for assumption, then Buyer shall
prornptlyobtauhthe necessary application and diligently complete and return itto the mortgagee.
Any mortgagee dharge(s) not to exceed S shall be paid by Buyer. IfBuyer isnot accepted by mortgagee or the requirements for
assumption are not in accordance with the terms ofth is Contract or mortgagee makes a ch argc in excess ofthe stated amount, Seller or Buyer mayresmhd
this Contract bywritten notice to the other partyun less either elects to paythe increaseininterest rate orexcess mortgagee charges.
V. TITLE EVIDENCE -At least days beforedosingdate,butnoearlier than days after Seller receives written notification that Buyer
has obtained the loan commitment or been approved for the loan assumption as provided in Paragraphs IV(a) and (b), above, or, ifapplicable, wahed the finan-
cing requirements, (CHECK ONLY ONE): Seller shall, at Seller's expense, deliverto Buyer or Buyer's attorney, or)( Buyer shall at Buyer's expense obtain,
in awordanee with Standard A, /Mt) )W/Ffy6)R): j< abstrad ofthle; or X title insurance commitment (with legible copies of indmntents listed as
exceptions) and, after dosing an owner's policy oftitle insurance.
VL CLOSING DAMThistransaction shall be dosed and the deed and other dosingpapers delivered on or before 60 cava_ , unless modified
byotherprovisionsefthis Contract. frau "Effective DBti@" (See III)
VH. RESTRICTIONS; EASEMENTS; 1,11WATIONS: Buyer shall taketdlesubjedto: comprehensive landuse plans, zoning restridions, prohibitions
and other requirements imposed by governmental authority, restrictions and matters appearingon theptat or otherwise commontothe subdivision; public
utility easements of record (easements are to be located contiguousto Real Property lines and notmore than 10 feel in width astotherear or front lines and
7 1/2 fed in width as to the side lines, unless o1hemise stated herein);taxes for year of dosing and subsequent years; assumed mortgages and purchase money
mortgoges, if any, (ifothermatlers, ace Paragraph XV); provided, thatthere exists at dosingno violation ofthe foregoing and none ofthempreventsUse ofthe
Property for---_swd richt-Ql:_gay_---- ----- -- purpose(s).
VIILOMJPANLY: Seller warrants that there are no parties inoccupancy other than Seller; but, ifPropertyis intended toberented oroaupiedbeyond
dosing, the fad and terms thereof shall be statedherein and thetenant(s)or oompants disclosed pursr-11—
Property at time ofelosingunless otherwise slated herein. If oocupancy is to be delivered before dosing
occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have
takingoccupanryunless otherwise stated herein.
�InJh,a, Riv,•rl�nunty A(�nv,�d l)atc
DL TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, ric
ofthis Contrad m conoid with (hem
X. RIDERS: (CHECK these riders which are applicable AND are attached to this Contract):
(a) ❑ COASTAL CONSTRUCTION CONTROL LINE (e) ❑ INSULATION
(b) ❑ CONDOMINIUM (f) ❑ "ASIS„
(c) E FOREIONINVESTMENT INREAL PROPE..RTYTAX ACT (g) ❑ HOMEOWNERS'
(d) ❑ VA/FHA (h) [] RESIDEhrrmt.
FAR/BARA Revised 12/93 (C) 1994, Florida Association oflteshort(R) P.O. Box725025 Orlando, Flo
Thisforthislicensed for use byISO•Mc llisterPublishing303.546,6355
L Torr: in compmih g time periods of lesathan six (6) days, Saturdays, Sundays and slate or national legal holidays shall be excluded. Anytime periods provided
for herein wh idh shall and on a Saturday, Sunday, ora lep)rl h oliday sh all extend to 5;00 p.m ofthe nem business day. Time is of the essence in this Contras
Ji Dormtrnto fortlodng Seller shall Aim ishthe deed, hill ofsale, construdion lien affidsvii, owner's possession a0idavit, assignments of leases, tenant and mor-
lgagFeestoppellenenandwrrcdisevf#nrmmU.fArycr shatl famish doaingststcmmt, rrxxtgape, mnrt)ysge note, acutrity ageomenl and financing Aatements.
K Eapensn: Uownhenlary startps on the deed and record'sngof corrective in struments sh all be paid by Seller. Mcumentary stamp s an d intangible tax on the pur-
dnsse money mortaage and snv rmttgagr: anumed, and rmrdingofpurdhase money mortgage to Seller, decd and fin sndngstatenhcnta rhaR bepmid bythe Buyer.
Unless otherwise provided bylaw or rider to this Contrad dtargesforthefollowingrelaledtitlescnias, namely title or abstract charge, title examination, and
settlement and dosingfee, shall be paid by the party responsible for furnish in gthetitle evidence in sanrdincc with Paragraph V.
LPmrntons;Cmdlb:Taxes,assmunenta, rent, interest, insuranceandotherespenscsoflheliropertyshallbeproratedtnroughthedaybeforedating Buyer
shslihavethe option oft" gover eAstingpoliciea ofins rance, irassumable, in which cvrntpremiunwshall be prorated. Cash at dosingahall be increased or de-
creaaedasmayberequvedbyprorationatobemadethrausodaypriortodosingorocunpancyifocwpanryoasnsbeforedosing Advance rent andsectritydeF.
ositswill be cred Red to Buyer. Escrowdeposhs held bymortgara will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allow-
ance made for maximum allowable discount, homestead and other exemptions. irdosing nixurs at a date when the current year's millage is not fixed and current
year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. ifcurrent year's assessment isnot available, then taxes
will be prorated on prior year's tax ifthereare completed inorovementsonthe Real PropertvbyJanuorylstofycorofdosing which inprovementswere not in
existence on January lit ofprioryear, then taxes shall boprorated based upon prior year's mfllapp and at an equitable nsscssmenl to be agreed upon betweenthe
parties; thlntgwhidr, request shdlbemmcletothe County Property Appraiser liraninfimnalassmmitnllakinginloawninlavailableexemplions. Alaxprora-
lion based on an estimate shall, at request ofeither party, be readjusted upon receipt oftnx bill on condition that a statement io that cffcd is signed at dosing
hL Specht AssessmentLero: Certified, confirmed and ratified special assessment liens as of dale ofdosing(not as of Effective pate) arc to be paid by Seller.
Pending liens as ofdate ofdosing shall be assumed by Buyer. Ifthe improvement hasbccnsubstantiallyeottpletedasofEffediveDate, any pendingiien shall be
considered certified, con firmed or ratified and Seller shall, at dosing be charged an amount equal to the last estimate or assessrtrent for the improvement by the
publicbody.
N. Inspection, Repairand hfadntenanae: Seller warranlsthat, asof 10 days prior to dosing Ute ceiling roof(indudingthe fascia and soffits) and exterior and in-
teriorwalls, foundation, seawalls (or equivalent) and dockage do not have any Visible Evidrnaofleaks, waterdamaseorhrudur3l damageandthatte septic
tank pool, all appliances, mechanical dankhefilin& cooling electrical, plumbing sy�lentsand machinery are in Working Condition. The foregoing warranty shall
belinitedto the items specified unless otherwise provided in an addendum Buyer may, at Buyer'scsnctlsc, have inspections made ofthose Kam bya firm or ind-
ividual specializingin home inspedionsand holdingan occupational licenseforsuch purpose(if required) orbyan appropriately licensed Florida contractor.
Buyershall, priortoBuya's occupancy ornot less than 10days prior to dosing whidheveroccurs first, report in %witingto Seller such items that do not medlhe
above standards mato defects, Unless Myer timely reports such defeds, Buyer shall be deemed to h ave waived Sella's warranties as to defectsnot reported. ifte-
pairs or replacemenbare required to comp lywith this Standard, Seller shall cause them to be made and shall pay up to the amount provided in Paragraph XIiI(b).
Seiler is not required to nuke repairs or replacementsofa cosm eficnature unless caused by a defect Seller is responsible to repair or replace. Ifthe cost for such
repair or rep laeementexceeds the amount provided in ParagraphXlli(b), Buyer or Seller may elect to pay such excess, failingwhidh either party maycanoel this
Contrad. if Seller is unable to coned the defects prior to dosing the cost Ihereofshall be paid into escrow at dosing Seller shall, upon reasonable notice, provide
utilities service and access to the Property for inspedionx, indudingawalk4hrough prior to dosing to confirm that all items of Personal Property are on the Real
Property and, subjed to the foregoing that all required repairs and replacements have been made and that the Property, including but not limited to, Irvin, shrub-
bery and pool, irany,has been maintained in the condition existing as of Effcdive pate, ordinmy wear and tear cxmptcd.
U RLvkOfLossAfthe Propertyiadama®od byline or other cestiaky beforedosing and cost orrestomtinn doesnot exceed 304 ofthe assessed valuation ofthe
Property so damaged, costofrestoration shall bean obligation ofthe Seller and dosing shall proceed pursuant to the terms orchis Contras with restoration costa
escrowed at dosing Ifthe cod of restoration exceeds 3% ofthe assessed valuation ofthe Property so damaged, Buyer shall have the option ofeither taking the
Propertyasis, togetherwith eilherthe3%orany insurance proceeds payable by virtue ofsudhloss ordamage, orofvancelingfliis Contract andreceivingrdum
ofthe deposh(s).
P. Proceeds ofSalel dosing Procedure: The deed shall be recorded upon clearance offunds. Iran abstractoftitlehas been Rrmished, evidence ofthle shall be
continued at Buyer's expense to show title in Buyer, without any oncumbranocs or dhangcwhieh would rend" Seller's title un marketable from the date ofthe last
evidence. All dosingproeeedsshall beheld in escrow by Sella's attorney or other mutually amptable escrow agent for a period ofnot more than 5 days after dos-
ingdatc. If Seller's title is rendered unmarketable, thtough no fault of Buyer, Bnyer shall, within the 5 -day period, n otify, Seller in %%Thingofthe defect and Seller
shall haw 30 days from date of receipt ofsudh notification to cure the defect. ifSeller fails to timelycure the defed, all deposh(s) and dosing fun ds shall, upon
written demand by Buyer and within 5 days after demand, beretumed to Buyer and, simultaneouslyvvith such repayment, Buyer shall return the personal Prop-
erty, vacate the Real Property and reconvey the Propertyto Seller by special warranty decd and bill of sale. if Buyer fails to make timclydemand for refund, Buyer
shall take title as is, waivinget rights against Seller asto any intervening defed except as maybe available to Buyer by virtue of warranties contained in the deed
or bill ofsale. Ifa portion ofthe purchase price is to be derived from institutional fm an cin gorrefinancing requirements ofthe lendingin stitution as to place, time
ofday and procedures for closing andfor disbursement ofmortgage proceeds sh all control over contraryprovision in th is Contract. Seller shall have the right to
require from the lending institution a written commitment that it will not withhold disburseni mt of mortgage proceeds as a result of any title defed attributable to
Buva-mortgagor. The escrow and closingproeedure required by this Standard shallbe waived ifthethle agent insures adverse matters pursuantto Section
627.7841, F.S., as amended.
Q.Estsow:Any escrow agent("Agent') receiving funds or equivalent is authorized and agrees byacceptance ofthemto deposit them promptly, hold samein
ewow end, subjodto doermco, disburao themfn aanrdnnce with lcruw and unulitions nl'Ihis C'ontr:act. Failure orfim ds to dear sit all not cicuume lkiyer's perfor.
manoo. Ifin doubt asto Agent's duties or liabilities under theprovisiong ofthis Contrad. Agent may. a[ Apont'soption. wntinueit) hold die subjedmatter ofthe
escrow until the parties hereto agree to its disbursement or until a judgement Ora court ofoompetent jurisdiction sh all determine the riglits ofthe parties. or
Agent may deposit same with the derk ofthe circuit court having jurisdiction ofthe dispute. t Ilion notifying all parties concerned ofsudh action, all liability on the
part of Agent shall fullyterrninate, except to the extent ofaecounlingforany itanspreviouslydcliveredout ofescrow. ifaliomsedreal estate broker, Agentwili
complywith provisions ofChapter 475, F.S., as amended. Any suit between Buyer and Seiler %%herein Agent is made a party because ofading as Agent hereunder,
Orin any suitwherein Agent interpleads the subject matter ofthe escrow, Agent shall recover reasonable allomeys fees and costs incurred with these amountslo
be paid from and out ofthe escrowed funds or equivalent and dharwdand awarded ascourt ooslsinfavor ofthe prevailing party. The Agent shall not beliabieto
anypany or person for misdelivery to Buyer or Sellerofitems subjecttothe escrow, unless such misdelivery is due to willful breach ofth e provisions ofthis Con-
tractor gross negligence ofAgent.
R Attorney's Fees; Cbsb:ln my litigation, inducting breach, en forcement or interpretation, arising out of this Contract, the prevailingparty in such litigation,
which, for purposes ofthis Standard, shall include Seller, Buyerand anybrokers ading in agencyor nonagency relationships authorized by Chapter475, F.S., as
amended, shall beentitled to recover from the non prevailingpartyreasonable nuomeyzs fees, costs and expenses.
S. Failure ofPerforlemce:IfBuyahilstoperform this Contract within the time spedfred,indudingpaymentofall deposits, thedeposil(s) paidbyBuyerand
deposd(s)agreed to bepaid, maybe recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for the execution of
this Contrast and in full settlement ofany claims; whereupon, Buyer and Seller shall bereliewd ofall obligations under this Contras; or Seller, at Seller's option,
may proceed in equ4yto enforce Seller's rights under this Contract. Iffor any reason other than failure ofSellar to mike Seller's title marketable after diligent
effort, Seller fails, neglects orrefiases to perform this Contract, theBuyer may seek specifacperformancc or elect toreceive the returnof Buyer's deposit(s)
without therebywaivingany action for damagesresuhingfrom Seller's breach.
T. Contract Not Recordable; Persona Bound; Notice: Neither this Contract nor any notice of it Qi all be recorded in any publieraurdit. This Contras Al all hind
and inure to the benefirt ofthe parties and their successors in interest, %Abenever the aintcl permits. sin6whir shall include p lurid tin done gender sh all includeail.
Notice given by or to the attorney for any party shall be as effective as ifgivvn by or to that party.
U. Clonveyamx: Seller shall convey the to the Real Propertyby statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to the
status of Seller, subject onlyto matters contained in paragraph VII and those oth awise accepted by Buyer. Personal Property shall, at the request ofthe Buyer, be
transferred by an absolute bill ofsale with warranty oftitle, subject onlyto such matters as may be otherwise provided for herein.
V. Other Agreements: No prior or present agreements or representations shelf be bindin gupon Buyer or Seller unless included in this Contract. No modification
to ordhange in this Contrad shall be valid orbihdingupon thepartiesunlcmin writing and executed bytheparty or parties intended to be bound by it.
IV. Warranty: Seller warrants that there are no fads known to Seller materially affedin g the value ofthe Property which arc not readily observable by Buyer or
Midi have not been disclosed to Buyer.
The Florida Association ofReahors and local Board/ Association of Rcnitors nuke no rLTresenfhtion onto the legal validity or adequacy of
anyprovision ofthis form in any specific transection. This standardimd form should not he used in complex transactions ur with extensive
riders or additions This form is available for use by the entire real estate industry and is not intended to identify the user as a
REALTOR(R). REAITOR(R) is a registered oadlective membersh ip mirk th at rmy be used only by teal estate licensees %%ho are members
ofthe Nstiond Association of REALTORS(R) andwho subscribe to its Code ofiithicx. The copyriglttlaws ofthe United States (17U.S.
Code)forbid the unauthorized reproduction ofblank forms by any mcans including faaimile or computerized forms.
FAR/BARO 12/95 Copyright 1995, Florida Association ofReshors(R) P.O. Box72Nr25 Orlando, Florida 32u72.5Q25 All Rights Reiervrd Page 3of-3
Thin form is licensed for use bylS&WAlister Publishing 301-W4355
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%L ASSX;..YABHIn':(CtiECKOn.YONE):tLyer (J msy assign and thereby be released hour any firrther liability under this Contrail; r! mayawili
but not be released from liability under this Contrail; or may not assign this Contrail.
XM DISCIA)SURF.S:
(&)Radon ism naturally occurring radioailive pas that wbe n accumulated in • building it sufficient quanthiesmay pry. thoahh rials to persons vvho are
expo&edlo hover time. Levels ofraden that ex» ted federal and gateguidelitea havebeen found in buildingr ih Florida. Additional information regarding
Radon or Radon testing maybe obtained fiomyourCounty Public Health unit.
(b)Duyermayhavedetermined the energy offidenqr ratingofthe residential building ifanyi% loaded on the Real Property.
(c)Ifthe Real Property includes pre-1978retidentialhousing then Paragraph X (h) is mandatory.
XIi. AL►XIAKIMREPAIRCOSTS: Seller shall not be responsible for the payment ofoosoinexcess of.
(a)s N/A for treatment and repair under Standard D(ifblank, then 2% ofthe Purdnaa Prim).
(b) $ N/A _ for repair and replacement underStandard N(ifblank.then 390 ofthe Purdmw Prim).
XIV. SPECIALCIAUSFSf Ifadditionalspace isrequired, attach addendum and CHECK HERE ❑ .
THIS iS INTFNDED'f PWA Y BINDING CONTRACT, iF NOT FULLY UNDERSTOOD, SEF:KTH ? ADViCY, OF AN ATTORNEY
PRIORTOSiGNIN!AftIg�FORM S, BEENAPPRONTI)BYTHE FI.ORIDAASSOCtATIONOFREALTORSANDTiEnmiDABAR.
Approvvddoarn rrrfiMteartopin!gran),ojfherertnsandmndinonrinlhisContrarrh of eaa¢pt ytheportlerinapwtiadart racrron.
Terms and in¢ntshould ba go ailed upon therespedlve interests, objectives d ningp nterested pe ser
10-05-99 Q�
(fin et"h R. IQaoht, Chal=an (Date) (SeBr • ergsr Into. (Dat) 'iv'S� •�
Social Security or Tax 1. D.# Bd:of.Co.Com®i cion SocialSemrit or Taxi.D.k Owl J,k <-
(Buyer) William N. Napi rdr SRPA SRA (Date)
Social Security or Taxl.D. a __Raghf-91-llgy Agant
Pl'lesidMt
(Neuer) (Date)
Social Severity or Tax 1.D. N �� - o?� % yah 9 9
Deposit under Paragraph Ii (a) received; iF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE..
(Escrow Agent)
BROKER'S FEE: The brokers named below, including listingand cooperatingbrokers, arethe onlybrokers entitled to compensation in connection with this
Contract:
Name
ListingBroker Cooperating Brokers, ifany
STANDARDS FOR REAL WfATF,TRANSAC ONS
A. EvIdenoe oM1k: (1) An abstract ofti le prepared or brought earrenl by a reputable and exislin gabstrad firm (if not exislin gthen certified as correct by an
existingfirm)purportmgto be an accurate synopsis oftheinstsuments affedinglitleto the Real Propertyrecorded in the publicrewrdsofthe wuntyvvhereinthe
Real Properly is located through Effective Date. It shall commence with the earliestpublicreoords, or such later date as may be vestomaryin the county. Upon
dosing ofthis Contrail, the abstract shall become the property of Buyer, subjedto the right of retention thereof by fast mortgagee until fullypaid. (2) A title
insurance mmmiment issued by a Florida licensed title insurer agreeingto issue Buyer, upon recording ofthe deed to Buyer, an owner's policyof title insurance
inthe amount ofthepurdnareprice, insuringBuyer'stitleto the Real Property, subject onlyto liens, encumbrances, exceptions orqualifications provided in this
Contract and those to be discharged by Seller at or before dosing Seller shall convey marketable title subject onlyto liens, encumbrances, exceptions or qualificat-
ions provided in this Contract. Marketable We shall be determined acurdingto applicable Title Standards adopted by authorityof7he Florida Bar and it accord-
ancewithlaw.Buyer shall have 30 days, ifabstrad, or 5 days, ifthle oommitnwt, from date ofreceivin g evidence oftiticto examine it. Iftitle is found defective,
Buyer shall within 3days thereafter, notify Seller in writingspedfyingthedefxt(s).Ifdefed(s)tender title unmarketable, Seller will have 30days from receipt of
noticeto removethe defects, failmgwhidh Buyer shall, within five (5) days after expiation ofthe thirty (30) day period, deliver written notice to Seller either: (1)
extending thetime fora reasonable period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of
deposit(s)paid which shall be immediately returned to Buyer. ifBuyer fails to so notify Seller, Buyer shall be deemed to have accepted thethle ask then is. Seller
shall, iftitle is found unmarketable, use diligent effort to correct defed(s)within the time provided therefor. IfSeller is unable to timely correct the defects, Buyer
shall either waivethe defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligation under this Contrail.
B. Prrdume MoneyMortpnge; Security Agteementto Seller. Apurchase money mortgage and mortgage note to Seller shall provide for a 30daygrace period in
the event ofdefauh ifa first mortgage and a 15 -day grace period ifa second or fearer mortgage; shall provide for right ofprepaynmrt in "hole or in part without
penalty, shall permit acceleration in eventoftransfer ofthe Real Property, shall require all prior liens and enwmbranoesto be kept in good standingand forbid
modifications ofor future advances under prior mortgage(s); shall require Buyer to maintain policies of insurance containing a standard mortgagee douse covering
all improvements located on the Real Property against fire and all perils included within the term "extended coverage endorsements" and such other risks and
perils as Seller may reason able require, in an amount equal to their highest insurable value; and the mortgage, note and security agreement shall be otherwise in
form and mutant required by Seller; but Seller may only require clauses and coverage customarily found in mortgages, mortgage notes and security agreements
gonerallytailized bysavings and loan institutions or state or national banks located in the county %%herein the Real Property is looted. All Personal Propertyand
leases being conveyedorassignedwill, atSeller's option, be subject to the lien ofa security agreement evidenced by recorded fin ancingstatements.Ifaballoon
mortgage, the final payment will exceed the periodicpaymentsdhereon.
C Survey: Buyer, at Buyer's expense, within time allowed to deliver evidence oftitle and to examine same, mayhave the Real Property surveyed and certified by
a regihstered Florida surveyor. ifthe surveydisdows encroachments on the Real Property or that improvements located thereon encroach on setback lines, ease-
ments, lands ofothers or violate any restrictions, Contract covenants or applicable govenmental regulation, the same shall constitute a title defect.
D. Terrdka: Buyer, at Buyer'sexpense, within the time allowed to deliver evidence oftile, mayhave the Property inspected by a Florida Certified Pea Control
Operator ("Operator") to determine ifthere is any visible active termite infestation or visible carnage from termite infe"ioninthe Property.lf u,erorbothare
found, Buyer shall have 4daysfrom mats af'_i:iyc.; r.otio: thcrmfwithin Midi to have cost oftreatmart, ifrequired, estimated by the Operator and all damage in.
spelled and estimated by a licensed builder or general contractor. Seller shall pay valid costs oftreatment and repair ofall damap up to the amountprovidedin
Paragraph Xlll(s). ifestimated costs exceed that amount, Buyer shall have the option ofeancelingthis Contrail within 5 do)%after receipt of contractor's repair
estimate by givmgwrilten noticoto Seller or Buyer mayeledto proceed with the transaction, and receive a credit at closingon the amount provided in Paragraph
XIII(a). 'Termites" shall be deemed to include all wood destroyingorganismc required to be reported under the Florida Pea Control Ad, as amended.
L ingresssetd Egress: Seller warrants and represents that there is ingress and egressto the Real Property sufficient for its intended use as described in Paragraph
VII hereof; titleto Midi is in accordance with Standard A.
F. i.eases: Seller shall, not lessthan 15 days before dosing furnish to Buyer copiesofall written leases and estoppel letters from each tenant npecifyingthc nature
and duration ofthetenanl's occupancy, rental rates, advanced rent and severity deposits paid bylenanl. It'Seller is un able to obtain such letter fiom each tenant,
the same information shall be f rm ished by Seller to Buyer within that time period in the formol's Seller's affidavit, and Buyer may thereafter contail tenants to
confirm such information. Sellershall, at dosing deliver and assign all original leases to Buyer.
G. Liens: Seller shall furnish to Buyer attime of elosin g an affidavit aucetingto the absence, unless otherwise provided for herein, of any financing statement,
claire of lien orpotential lienors (mown to Seller and further attestingthat therehave been no improvemads orrepairs to the Real Propertyfor 90 days immed-
idelyprecedingdateofelosinglfthe Real Propenyhosbeenimproved orrepaired within thatlime, Seller uhalldeliverreleasesor waivers of construction liens
executed by allgeneralcontrailors, subcontractor&, suppliers and mawrialmxh in addition to Seller's lim affidavit satingforth then amesofallsuch general con-
tractors, subcontradors, suppliers and materialmen, further affirming that all charges for improvements or repairs Midi could carve as a basis for a construction
lien or a claim for damages have been paid or will be paid at the dosmgofthisContract.
IL Flom of C loci ng: Closing shall be held in the county wh erein the Real Property is loaned at the office ofthe stlomey or other dosing agpn designated by Seller.
FAR/BAR4Revised 12!95 (C) 1994, Floride Association offteahors(R) P.O. Wx725025 Orlando, Florida 32M -5M5 All RigIrt.sRewrved Page 2of3
"is form i3 licensed for use by ISO-McAllider Publishing 303-546.6355