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HomeMy WebLinkAbout2000-10640 i /-/ // e) ,%i THIS FORM HAS BEEN APPROVED 6Y THE FLORIDA ASSOCIATION OF REALTORSID AND THE FLORIDA DAR. Contract for Sale and Purchase + C94c6 FLORIDA ASSOCIATION OF REALTOR,%& 2 AND THE FLORIDA BAR '1 PARTIES: Bernton 2 of •_• 8226 Nothoclands P_KL_9,_BA1gigh, North-C.aa }aa V75"fi-9ese (Phone) NIA '3 andiredian Rive Qunty, a�r30 i C e.1T d f sLion of hC Q SJ.AG.@_Rf FlOrida ("Buyer"), 4 ofSt}�0 25th B eel, Yar4 Alii. $losida (Phone) {5fi__ 11 Sfi7�eiia0 5 hereby agree that Sailor shall sell and Buyer shall buy the following described real proporty and personal property (collectively 6 'Property") pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ('Contract'): 7 f. DESCRJPTION: *8 (a) Legal description of the Real Property located In County, Florida: g Spgftj,_deeeription. $xh3liiS. "A", ntr�Qc]��I�:y�q�t}��s3u tS�art herenl:. 10 *11 (b) Street address, city, zip, of the Property ls:_ Sth Z�oy_1; Pero Beach, F1, 3296.0- '12 2959'12 (c) Personal Properly: ��5 zoD#ft9LL1Sdn4 uee, par 91 I"o_JJ-3-39 -00001-0070-00003 0 13 Parcel �2B,Wri�.U3 ._64.6_4NAFe_44F_te x .4cree. --- 14 FLEABI3 Hr]TiriL 7JIIlf CO h �@ ', IiiDI_AILR_Z_ _O9yNTY Pl!-. pROVi,L 15 ti. PURCHASE i RICE:....,_.......................................................................................................................................................s a r I1s, oo _ 16 PAYMENT: '17 (a)Deposit held in escrow by NLA _ (Escrow *18 Agent) in the amount of ........................ .........,.,._.,..,......,..,..,..,,..,..,.......... ,.,5 -9- 119 (b) Additional escrow deposit to be made to Escrow Agent within—days after Effective Date (see '20 Paragraph II1) in the amount of ............................... _............... ........................ ,.,,..,..,,.,,..,..,....,...,....... ............. ..,,......,.,5 -0- '21 (c) Subject to AND assumption of existing mortgage in good standing in favor of ti�Jt; 22 having an approximate present principal balance of ...................$ -0- '23 (d) Now mortgage financing with a Lander (see Paragraph fV) in ilio amount of ............................ ..................... S -9- p '24 (e) Purchase money mortgage and note to Seller (see rider for terms) In the amount of .5 -0- Lr '25 (f)Other: A $• -9 - �- r 26 (g) Balance to close by U.S, cash or LOCALLY DRAWN cashiers or official bank checks} subiecl *27 to adjustments or prorallons.............. ............ ___ .............................. ..... ............. 28 ill. TIME FOR ACCEPTANCE OF OFFER EFFECTIVE DATE; FACSIMILE: If ihis offer Is not executed by and delivered to all parties '25 OR FACT OF EXECUTION communicated in writing between the parties on or before _ Npr i�3q,�,1.Q90 the deposil(s) 30 will, at Buyers option, be raWmad and this offerwithdrawn. For purposes of delivery ornotice of execution, parties include Buyer 31 and Seller or each of the respective brokers or attemeys. The data of Contract ("Effective Date') will be 'the dale veher, the last 32 one of the Buyer and Seller has signed this offer. A facsimile copyof this Contract and any signatures hereon shall be considered 33 (or all purposes as an original.. 34 IV. FINANCING: '35 Mi (a)T)TIs is a cash transaction with no contingencies fortinancing; *36 © (b) This Contract is conditioned on Buyer obtaining a written loan commitment within _ days alter Effectwo Date for '37 (CHECK ONLY ONE): C a fixed; Can adjustable; or ❑ a fixed or adjustable rate loan in the principal amount of '38 $ -HLA , at an initial Interest rale not to exceed _____ % , discount and origination fees not to exceed — % *39 of principal amount, and for a term of— years. Buyer will make application within days (5 days if left blank) after 40 Effective Date and use reasonable diligence to obtain a loan comm€lmenl and, thereafter, to satisfy terms and conditions of 41 the commitment and close Ilio loan, Buyer shall pay all loan expenses. It Buyer fails to obtain a cornmilmonl or fails to waive 42 Buyers rights under this subparagraph within [tie time for obtaining a commitment or, after diligent effort, fails to meet the 43 terms and conditions of the commitment by the closing date, then either party thereafter, by written notice to the other, may 44 cancel this Contract and Buyer shall be refunded the deposit(s); or '45 ❑ (c) The existing mortgage, described In Paragraph ll(c) above, has: [:] a variable interest rate;, or [a a fixed interest rate of *46 _f/iL. % per annum. At time of tills transfer, some fixed interest rates are subject to increase; if increased, the rate shall not 47 exceed % per annum. Seller shall furnish a statement from each mortgagee stating the principal balance, method of 48 payment, interest rate and status of mortgage or authorize Buyer or Closing Agent to obtain thu same. If Buyer has agreed to 49 assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the so necessary application and diligently complete and return it to the mortgagee. Any mortgagee charge(s), not to exceed *151 $ NIA (1% of amount assumed if tort blank), shall be paid by Buyer. if Buyer is not accepted by mortgagee or 52 the requirements for assumption are not In accordance with ilia terms of this Contract or mortgagee makes a charge in 53 excess of the stated amount, Seller or Buyer may rescind this Contract by written notice to the other party unless either 54 elects to pay the Increase in interest rate or excess mortgage charges. 155 V, TITLE: EVIDENCE:At least _1(/A- days before closing date, (CHECK ONLY ONE): ❑ Seller shalt, at Sollers expor,so, deliver '56 to Buyer or Buyers attorney; or JK Buyer shall at Buyer's expense obtain (CHECK ONLY ONE): Nabstract of title; or Xtitle 57 Insurance commitment (with legible copies of instruments listed as exceptions altachod thereto) and, after closing, an owners 58 policy of title Insuranco. *59 VI. CLOSING DATE:This transaction shall be closed and the closing documents delivered an 60.ggQ 60 ass modified byother provisions ilii Contract. From effective date (See Sec III) auyer ( 1r? . m { ] and 3*r ler (—I acknow&e Arye receipt of a cagy of this page. FARMAR-5 Rev. 11198 RIDERS CAN BE OnT ED FROM THE FLORIDA ASSOOIATIOt7 OF REALTORSM OR THE FLOR10A OAR This Form is iicansed for use with Formutntae Forms Software by ISG Ma AllIGtor Publishing, Inc. 844-336.1027 • 4D i C-1 61 VIP, RESTRICTIONS,, EASEMENTS; LIMITATIONS: Buyer shall lake title subject to; comprehensive land use plans, zoning, 62 restrictions, prohibitions and other requirements Imposed by governmental authority; restrictions and matters appearing on the 63 plat or otherwise common to the subdivision; outstanding oil, gas and mineral rights of record without right of entry; public utility 64 easements of record (easements are to be located contiguous to real property lines and not more than 10 real in width as to the 66 rear or front fines and 7 112 (col In width as to the side lines, unless otherwise stated heroin); taxes for year of closing and 66 subsequent years; assumed mortgages and purchase money mortgages, if any (if additional items, see addendum);. provided, 67 that there exists al closing no violation of the foregoing and none prevent use of the Property (Or Right -of -WAY 68 purpose(s). 69 Vill. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but if Properly is intended to be rented 70 or occupied beyond closing, the fact and terns thereof and the tenanl(s) or occupants shall be disclosed pursuant to Standard 71 F. Seller shall deliver occupancy of property to Buyer at time of closing unless otherwise stated herein. If occupany Is to be 72 delivered before closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable for 73 maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of lima of taking 74 Occupancy unless otherwise stated herein. 75 IX. TYPEWRII I N OR HANDWRITTEN PROVISIONS., Typewritten or handwritten provisions, riders and addenda shall control all 76 printed provisions of this Contract In conflict with them. 77 X. RIDERS: (CHE=CK those riders winch are applicable AND are attached to this Contract): '78 © COMPREHENSIVE RIDER E3 HOMEOWNERS' ASSN. C7 COASTAL CONSTRUCTION CONTROL LINE '79 CONDOMINIUM Cl "AS IS' © INSULATION 180 El VAJFHA El LEAD-BASED PAINT C] '81 XI. ASSIGNABILITY: (CHECK ONLY ONE); Buyer L) may assign and thereby be released from any further liability under this "82 Contract; El may assign but not be released from liability under tills Contract; or may not assign this Contract. 83 XII. DISCLOSURES: 84 (a) Radon is a naturally occurring radioactive gas that when accumulated 85 health risks to persons who are exposed to it over time. Levels of radon lhr 86 found In buildings In Florida. Additional Information regarding Radon or R 87 Public Health unit. 88 (b) Buyer acknowledges receipt of the Florida Building Energy-Elficlency Ral 89 (c) If the real properly includes pro -1978 residential housing then a lead -bas 4nnRavr: + 90 (d) If Seller is a 'Foreign person" as defined by the Foreign investment in RE 91 that Act. E 92 (a) if Buyor will be obligated to be a member of a homeowners' association., r, 93 UNTILBUYERHAS RECOVE DANDREAD THEHOMEOWNERS'ASSOCIATIL l,� 94 Xilt. MAXIMUM REPAIR COSTS: Seller shall not be responsible for payments in excel d c 95 (a) $ for treatment and repair under Standard D (if blank, Iher, go (b) S for rape irand replacement under Standard N (It blank, the. 197 XIV. SPECIAL CLAU SES, ADDENDA., If additional terms are to be provider[, attach addondu F- 98 XV. STANDARDS FOR REAL ESTATE TRANSACTIONS: Standards A through W on the rave r 1 99 as a part of this Contract. 100 THIS Is INTENDED TO BE ALEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, *4 `"! J 1 1 AN ATTORNEY PRIORTO SIGNING, 102 THIS FORMHAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF RE ALTORSC7 AND Tf 103 Approval does not constitute an opinion that any of the forms andconditions in fbis Contra, 104 by file parfiosIn a partfcufartransacfion. roans and conditions should be negobafad b 105 respactivo infaresfs, objOctives and bargaining positions of all interested parsons. 106 COPYRIGHT1 98 BY THE FLORIDA BAR AND THE�DRIDA ASSOCIATION OF REALTORSO 1107 V 1 _ �fi1 r�1��n a✓.I [ U ��YL.I�H~��c7+ r i .l r U71 -- '108 (Buyer)Pray+ B. Adams, Chail:man (Date) � (Seiler) 8ernirre Johstetoa-Harkins (Data) '109Sopfaf 3 �;cu y a a D, 11 esipner� Social Security or Tax I.D. i! A/ zea -0 '111 (Buyer) Ronald L. Callahan, SPLA (D 10) (Seller) (Date) '112 Social Security orTax I.D. Social Security or Tax I.D. (I 113 Deposit under Paragraph II (a) received; IF OTHER THAN CASH, THEN SUGJECT TO CLEARANCE. 114 NJ _(Escrow Agent) 115 'BROKER'S FEE: The brokers named below, Including listing and cooperating brokers, are the only brokers entitled to 116 compensation in connection with this Contract: '117 Name:_lie Cooperating Brokers, If any List Ing Broker Buyer( 1 ( } end Salter (_ ) ( ) ack"OWledgn receipt of A copy al tide gape, FARreAR•S Rev, 6106 RIDERS CAN BE ORTAINED FROM THE FLORI DA ASSOCIATI ON OF REALTORS& OR THE FLORIDA BAR This form is licensed for use voith FormulnWr" Forms Software by ISG McAllister Publishing, Inc. 600.336-1827 40 40 IND v� 119 STANDARDS FOR REAL ESTATE TRANSACTIONS 120 A. EYIDER CE OF TITLE -41) An nDsl. r9CI of ON prepared Or broughl current by a repel able and a%11 ling abstract firm In not existing then 121 carolled as correct by an ox+iiing firm) purporting to be an accurate synopsis at the, Instruments aflacling Isle to Ilia coal properly recorded in .22 the public records ar the county whamin the real properly Is located through Effecllve pale. II shall commence with (ha eaAlall publlc records, r 123 or such later date as may be customary In the county. upon closing 01 this COnlract, the abstract shall become the property of Buyer, iubje.ol to 124 she tight of ralonllon Iharear by first mortgagee until fully paid. (2) A Mlle Insurance Sommlte l Issued by a Florida licensed title ensuror 125 agreeing 10 Issue Buyer, upon recording of the deed to Buyer, an owner's policy of Ulla Insurance In the amounl Of Ilia purdhaa6 price, Insuring l26 Buyer's title to the real properly, subject Only 10 Hens, encumbrances, exceptions or qualglcahlons provided In this Contract snit those 10 be 127 discharged by Seller at or before closing- $01101 shall convey marketable idle subject anly rations, encurrraranCas. Oxeeptiank of qualifications 126 prov+dad In this Contract. Markat(IDle title shall be determined according to applicable Title Standards adopted by authority of The Fldfida Bar 129 andIn accordance wilt, law. Buyer shall have 5 days from dale of receiving evidence of Mlle to examine it If (Xlle is fauna dareeu,a, Buyer 130 on within Raid 5 days nollly Sellar In writing specifying the delacl(s) 11 decoct{sl render title unmarketable, Seller will have 30 day from 131 receipt Of 4,011c"10 famova the defetla, taHing which Buyer shall, within five 151 days pilar expiration of ire thirty 130) day period, deliver written 132 notice 10 Salter either: 11) ex tan ding the Irma lot a reasonable perlOrl not to axceed 120 days within which 301eet shall u1e dlNgenl GUOfl 10 In ramo ve Iha def acts: Or;2} roque%ting a rotund of deposit[&) paid which shall he immadialety rowelled to Buyer. 11 Buyer fads 10 so nollly Seller. 134 Buyer She De deemed to Nava accepted Iha tate as 11 then Is. SBHer shall, rt title 13 found unmatkelable. Cie diligent effort to correct deface! 135 within the time provided Martini. If Sector Is unable Io limely COrracl The detecls. Buyer shall either valve Ino defects. or receive a falund at 136 depaslf[s}, Ihoreby releasing Buyer and Seller ICOM 011 further abllgatlan3 under Irl% Contract. If evidence of citta is delivered to Buyer lois than 197 5 days pilot to closing. Buyer may extend closing dale to Thal Buyer shall nava up to 5 days tram dale of receive of evrdance of 11116 Io tixamme 136same in acc9rdaoco with this Standard. 139 B. PURCHASE MONEY MORTGAGE.. SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage nate to Seller malt ria 0100 do for a 30 -day grace pelted In the event of default If a first maltgapa and a 15.ODY grace period it a second or fossa+ mortgage: shall 141 provide for fight of prepayment In Whole Of In part without penally shelf permit acceleration In event of Iran%f6f of the real property', shell ra4ulfe 142 all prior hent and encumbrances to be kept ingood standing and forbid madifltalionl of or future advances under prior mortgag4iS), trait require 143 Boyar to me+nlaln policies of rn&ufanco containing a standard moflgagaa clause covering all Improvements located on the rase property against 144 flfa and all profile Included wllhln the term'exteneled coverage andorsemenls' and lucn other .toss and cards at Sailer may feator ly require, 145 in an amount equal to their highest Insurable vafue:and the mortgage, note and security agreement shall be olliarwrto in form and Content feduuld 146 by Sellar: but Sailer may only require Clauses and Coverage cuslomarpy round rn mOrigages, mortgage holes and 3aeufily sgrsaments 90nara NY 147 utilized by savings and loan Instilutlons at trate or nallonal banks iocatta in Inc county wherein the peat propefly It loaded. All pel'tanal 146 properly and leases being conveyed or 6ssl9nad wilt, a1 Seller's option, be ianeacr 10 the Ilan or a iveunry agreemonl awdenced by recorded 149 Tinancing llalernenls, if a balloon mortgage, the final paymahl will -coed the period,e Ppymanls Thorson 150 C. SURVEY: Buyor, at Buyer's expense, within lime Illowad to defiler evidence of Idle and to oramma same, ;,ay have the Baal properly suryayeo 151 and carillled by a legislated Florida surveyor. if the surv6y dlicloset encrDaChm C,0%an the rare prnparly nr that impeQ va maAAS located Inaction 152 encroach on salbock llnos, aasemenla, lands of olhats of violate any res if irlmn 1, Rntra Ct covenants or applicable governmanlal regulation, the 153 sameshall conslHule 6 title delict, 154 O,T E RMITESfWOOD DESTROYING ORGANISMS: Royer, at Buyer'% eapen%e. within the lime allowed to dglivot avldence of title, may have the 153 Property In3peeled by a Florida Carl+f+6d pest Cantfai Optirolor I'Dperalar') to delafmine if there is any visible NCNva larm114 inlestatlOn Or 156 visible damage Iftim larmite InraHatlon, excluding lances. 11 cllber or bath are found. Buyer shall have 4 days Team date of wnHeA notice tharoof 157 Wilhite which to have Cost of treatmsnl, If required, estimated by the Op6ralar and all damage InspdCtadantl estimaled by a licensed hullddr or 155 general contractor. Seller shell pay valid coils Of troalment and repair of all damage up to the amount plOvid6d In Paragraph XIII(a) If 150asllrristed c93ts exceed I'll amounl, Buyor shall have the option at canceling Ihis Don9roct ..then 5 days altar f6CMI)t of COMraclor's repair 140 esti male by pI'ing wrliton not tee 10 Seller or Buyer may elect to proceed with the transaction, and retelvo a credit At elOs+ng an rho amOurll 161 provided In Paragraph XIII (a). 'Termites' shall be 4e6m6d to Include all wood destroying Organisms fertulred 10 be reported under the- Flaflda Pell 162Conliol Act, tie amended. 163 E.IN GRE 55 ANO FORE SS: Sellar warrants and it p(niahle. Iher Ihere Is Ingfes3 and egrets to Ino fear peOp Ofty selftic lent for its intended use 164 as described M pa f egraph Vte hereof, Mlle No which it In accordance with Standard A 105 F, LEASES: Sailer shall, hat less Ihpn t5 days before closing, tufn9.ih 10 Ba}er copies Of all vrrttlan (ec.3es and estoppel letters from each 100tenant specifying the nature and duration of the tenant's. Occupancy. rental rales, advanced rent and security depasH paid by tenant. 11 %allot is 107unable to obtain such loiter Ifom arch tenant, the same +nformalion snag be furnrshod by Sailer and Buyor within that Time parlad 1n the farm of a 1.6a Seller's altldaall, and Buyer may Iharesflar coniacl tenant to confirm such Information Seller shall, al closing, deliver and assign all original 160renter to Buyer. 170 O. LIEfIS: Sager shell furnish 10 Buyer at time of xlotino an affidavit allesting 10 Inc absence, unless alherwlse provided lar herein. Of any 1TI fill slicing statement, claims of lien or polgnl lot reners known to Sailer and further alrailing that There have peen no Impfovemenls or repair% ro 172 the real property for 90 days Immodimaly preceding dale of closing- If the real Prapafty has been Improved fir repaired wllhln that time, Seller 173 shall de l Iver releases of wolvom of construcllon Wells executed by all general contractors, 31i4corelractors, suppliers and matorlielmen in addition 174 to Seller's Ilan affidavit belting larth the names of all such panoral Contractors, a u4contraclors. suppliers and malarfalmon, fullhor afhiming Ilial 175 all' charges for Improvements Of tepain which could serve as a basis for a construction lien Or a Claim for damages have Dean paid of will be paid 175 at the closing of this Contrace. 177 H. PLACE OF CLGSINO: Closing shell be held in Ina county wherein the fetal properly 13 located at ilia ofllce of the allarney of other tlDsnlg 116 agent ('Closing Agent') do signaled by Saner, I'D 1. TIME: In Computing time period& of lass than six j6) days, Salufday3, Sundoys and state or national legal holidays anile ho excluded. Any lime 166 periods provided for herein which shall and on a Salufday. Sunday, or a legal hnhday shall extend to S.00 P.m of Ilia next business day Tlme h of 169 the essence In this Conleact. ' 162 J. CLOSING DOCUMENTS. Sellar shall furnish the doed, blu of sore, construction lien affidavit, owner's Poisesslon Mel davit, assig arrows or 163 leases. tenant and mortgagee esloppel letters and cona,0Ivg instfumants Buyer shall furnish closing stalemgat, mmlga0e, mortgage nota, 164 security agreement and financing stalemants. 165 K. EXPENSES.. DOCumenlary tramps on Ing dead and recoroing of caloric" Instruments shall be paid by Seller. Documentary stamps and 166 Intangible lax on the purchase money matt(loga and any mortgage assumed, morlgagen Iwo Insurance cam -Imam win ralalad lees, and IL7 rd Cording Of purchase money mortgage to Seller, dead and financing statements shall be paid by Buyer. Unless otherwise provided by law or lee flder to this Contract, chafga3 for the following related title eery l Cas, namely title or absirace ch.rg0, title ox a.minall4n, and settlement 16g and closing tee, shall be paid by the party f6a pons lite for fursl"I ng the (ilia evidence In accordance Willi ParOgrapn V. t90 L, PRORATION$. CREDITS: Taxes, assassmont3, rent, Interest. Insurance and other expenses Or the Property shall be prOfmcd through Ilia 101 day borete closing. Buyer shall have The option of laking over exlsllng policies of Insurance, if assumable, In which event premiums Shan be 192 prorated, Coals at closing shell be lacreased Or decreased as may be required by frorallons to ba mado through day prior to Closing, or ur'cupaacy. 193 rl OCcupancY Ogcure before closing. Advance rent and security deposits will bo crodilsd to Buyer. Escrow deposlls held by mortgagee will be 104 Credited to Sailor. Taxes shalt be prorated based on the current year's tax with due allowance made for maximum allowable discount, hama3tead 105 and other exemptions. If closing occurs ala date when Ina Curran( vapid minagre Is not Nxed and currant year's assessment Is avallable,Taxes 190 .111 be prat bled based upon such 03303 sin it Pod pflor year's ml.11age.. II cerrenl year's assessmant. Is not available, than taxes will be profalod 197 on prior year's tax. if there are completed lmprovomant3 on 1110 real pfaperly by January 131 of year OI clvsinq, winch improvemanls .gra nor In IDS axislenco on January lot of prior year, then Naxos shall b0 proraled based upon pilot year's mileage and at an equitable assessment to be kgreed 199 upon between the paro0s; falling which, request shalt be made 10 ilia Cguply prnporly Appraiser for aninf Ormal assessment taking info account 200 .,,,liable eaamptlons. A low proration based on on esilarale shall, al request of ellugr Pally, be fitadfustad upon'acetyl of tax Dili on condgron 201 chat a irstemenl to Hint wracl Is signed at closina. Buy or i._ 1 { and Seller I. () acknowledge receipt 01 a COPY of this peas- FARIBAR-5 Rev. 6196 COPYRIGHT 199a THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORSO This form is licensed for Door with FarMultallbal a rOfrns Software by ISG McAllister Publishing, Inc 1100.338.1027 PIP 4D 40 202 203 264 205 200 207 266 209 210 211 212 213 214 215 216 217 216 219 220 221 222 223 224 225 226 221 228 229 230 231 232 233 234 236 236 737 236 230 240 241 242 243 244 245 240 247 246 240 250 251 252 253 234 255 260 257 251 259 260 261 202 263 204 265 296 267 268 269 270 271 272 273 274 275 270 277 27a 270 280 2a l 212 M. SPECIAL ASSESSMENT LIENS: Certlllad, confirmed and ratified epactal assessment lions as of date of CIOsPrig (nol as OF Effective pate) are lobe paid by Seller. Pending hens as of dale or closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Data. any pending Ilan shall be considered cerllfled. confirmed or rallt[od and Seller shall, of closing, bo charged an amount actual to the Iasi estimate or assamammnl far She Improvameol by Ilia public body. N. INSPECTION. REPAIR AND MAINTENANCE: Seller warrants that the celling, roof (including the fascia and sgllits) and exterior and Inlerlo( wells, foundation, seawalls (or equivalent) and dockage do not have any Visible Evldenco at leaks. water damage or thf UtItral damage and that into %spite lank, pool, all appliances, mechanical items, haeling, cooling, oreciricaP, plumbing systems and machinery are In Working CandlHon. The foregoing warranty shall be limited to the items speclNed Unless otherwise pravided in in addendum. Buyer may, at Buyer's oxpanse, have inspections made of these items wilhin 20 days after the Effective Pala, by a Wince individual specializing in home Inspections and holding an occupational license for such purpose (if raqulredl or by an appropriately licensed Florida Cooltector, and Boyer shall, oiler to Buyel'$ occupancy. bot not mote than 26 days after Effectivo Colo. (opott In writing to Seller such Ilems that do not maul Ilia als"a standards an to defacls, Unless Buyer timely feptrle such defeclm. Buyer shall be danmild No have warva4 Seller's warranties ■e to defects not reported If imparts or replocamenls are requlmd to comply with loll Standard, Splint shall ca"ea them to be made and shall pay up to the amount provided In Paragraph XIII(b). Seller Is not ra ql Pad to make repairs or replacements of a Cosmolic Condllion unless caused by a defect Sauer is responsible to repair or fepl"a. It the coir for such repair of replacement axc.ads the amouAl pto'rrded in Paragraph XI11(a). Buys( and Sailor may elect to pay Such excess, falling which either early may cancel this Contract It Sailor Is unable to correct the defects pilar to closing. the Coal thereof shall be paid Into escrow at closing. Sellar shall, upon tea%onabre police, ProVlde ulilmos sorvlco and access to the Properly for Inspections, Including a walk-through prior to closing, to confirm Ilial all items. of personal property are on the real property and, subject la the Foregoing. that all required imparts and replacements have been made and Thal Ihn Property, Inciuding, but not limited to, lawn, shrubbery and pool, If any, hag been maintained In the Condillon existing as of Effecuva Date, ordinary wear and tae -r esceptod For purposom or this Contract la) 'Working Condition' means operating In the manner In which the Item was designed to oparnle. NO)'Coxmetic C4n4NloW means aesthetic PmperftCllons that do not affect the working condition of the Item. Inciuding, but not limited to pilled marrilo; missing or torn screans, fogged windows; lents,worn spots, or discoloration of [loot o"ee'ngs, wallpaper, or window tfealmants; saki hales, scratches, dents, scrapes. chips or caulking in callings, wall$„ hearings. Rxtures, or initials; and minor Cracks In floors, Niles, wlndpwl, driveways, sidewalk$, or pool darks; and IC) Cracked roof lifts. curling of worn shingles, or IrmI144 root life shall not be consldor ld defect% Seller mull repair or replace, act long 71 there If no evidence Of actual looks or leakage or slrucltual damage, but missing tries will tie SePlet's ralponsrbriily to replace at repair. O,RtSR OF LOSS: If the Properly Is damaged by lire at other Casualty before closing and coal of restoration does not exceed 3% of the assessed valuation or the Property so damaged, cost of restoration shall bO an Obligation of Sailor and closing shall penciled pursuant to the terms Of the$ Contrast with re Sl CrptlOn COLI2 escrowed at closing, If rho cost of roltoratlon axeoads 3:l' of the stressed valuation of she Property s0 damaged, Buyer shalt have the oplion Of either laking the Pruporly as is, tagethpr will' eilhtf the 3% at any Insurance proceeds payable by virtue of sucti lose or damage, or of canceling lhls Contract and P-84ving return of the depnsilts). P. PROCEEDS OF SALE; CLOSING PROCEDURE: The dead shall iia recorded open Clearanet Of funds If an ap$tra Cl of IPlle has been furnls had, avldanco Of title shell be contlhued At Buy0t'$ expense Io Chew title In Buyer, without any encumbrances or change which would render Seller's Atte unmarketable from the dale of the Iasi evidence. All closing proceeds shall be hold In escrow by Seller's attorney Or other mutually aCCOprabla escrow agent for a period of not more then 5 days allay closing Cala. If Soiree's Atte is randerarl ummnrkelable, through no fault of Buyer. Buyer shall, within the 5 -day Pett'Ocl, "Drily 501101 In wfitlog of IAE defect and Seller shall have 30 days from dale of raCtiot of such notlecallon to core the defect. If Seller falls to timely cuts the dertct, all deposits) and closing Funds shall, upon wrtiten demand by Buyer and within 5 days after demand, be rolurAdd fo Buyer and, almurlaneo+ sly with such rapaymenl, Buyer %hall return the personal property, vacate lhrl real propriety end frioonvey the Property to Sailor by special warranly deed and hill or sale. If Buyer foils to make llmoty demand jot refund, Buyer shalt take Mlle as Is welving sit Fights against Seiler as to any Inleeaentng defect except as may be Avallawe to Buyer by venue dl warranties contained In the deal or billof sale. If a portion of the purchase price Is to be dorlved tram institutional flneOcing or refinancing, requirements of the lending Instilutlon all to plata, flora of day end procedures 141 closing, and for elsbuf%emenl of mortgage proCatdl Shen ConlrOI over contrary provision In this Contract. Seller Shall have The riot to require front the lending Insliluilon a written commitment that it will nor withhold disbursement OF mortgage peaceads as a result of any ]III* defect altfibutable to Buyer mortgagor. The escrow and closing procedure required by 11111 Standard shall be wafvad if tithe title spent insures adverse mailers pursuant to Section 627 1441, F.S.. as amended. Q, ESCROW: Any escrow agent t'Agent') tocelving funds at equivalent Is authorised and agrees by aCCeplanco of them to dapo%n them promptly, hold some In escrow and, rubloct to clearance, disburse Itrem In ac'nrdanco with terms and conditions of this Contract ralluen of Fonds to Clear shalt nor excuse 8uyer'e performance. It in doubt as to Agent's duties Of liabiltlles under the provislons of this Contract. Agent may, at Agent's oplion, conllnurs to hold the subject matter of the escrow until the parties hereto agree to its disbursement or until a j"4gemehl of a court of competent jurledlctlon shall dutefminri the thahl1 of the parties, or Agent may deposit Game wlrh the coats, of the circ Wt cerin 11avwo jurisdiction of the disputa. Upon notifying all parties concerned of such action, all liability an the part of Agent %hail fully terminale, .,.act to the extent of accounting foe any flame previously delivered out of escrow. If a licensed real estale broker, Agent will Comply with provisions of Chapter 476, F.S., as amended. Any evil between Buyer and Sellar wherein Agent Is made a party bacause of acting as Agan1 hereunder. or m any mull wherin Agent Intafplaads the subjecl molter of the escrow. Agenl shall fecover eoaSpnabe Otl4rnay'S loos and cash Incurred won those amounts to be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of Ilia pravalhng party. The Agent shall not be liable l0 any party or person for ml%dellvoty to Buyer of Sellar or llama subject to the escrow, unless such misdellvefy Is due Id Willful breach of the provisions of this Contract or gross negllgerI Of Agent. R,ATTORNEY'S FEES; COSTS: In any litigation, Including breach. enforcom11nl or Interpretation, arising out of this Contract, the Prevailing pDrly In such Iftipdtlon, which, for purposes of this Standard, &hail Include Seller, Buyer slid any brokers acting in agency or nonagency relationships authorized by Chapter 476, F.S., as amended, shell bb entitled to recover learn the non•provarling party (easOnabte allbrriey`s fees. costs and expensam. S. FAILURE OF PERFORMANCE: II Buyer Palls to perform this Conlracl within the Ilme specified, including payment of all deposits, the depotll(t) paid by Buyer and deposit(a) agreed to be paid, may be racovared and retained by and for the account of Sailor as agreed upon Ilquldaled damages, consideration lot Ina oxeculfon of this Coulra Cl and in full seltlemonl of any claims; whereupon. Buyer and $oiler shalt be folleve4 of all obligations under this Centrad; of Saller, at Seller's DptlOn, may pto4eed In equity to enforce Salter's rights undar this contract. If for any raaSU" other than failure of Sailer to make Salfar'$ 111111 markelable rifle' diligent eflott, Sauer falls, "ogloCtS or ref"5e1. to I'"C"m Ihrs Contract, Buyer may tookspecific performance or elect to receive the return of Buyer's depuslltsI wilonut thereby waiving any action for damages reaulling from Seller's breach. T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE: Neither this Contract riot any notice of Il shall be recorded In any public records. This Contract shalt bind and Inure to rhe benollt of Itte partial and Ihetr e"CC415042 In 11110raml. WhOAcvef the context permits, singular Shall Include plural and one gender Shall Include all. NollCe given by or to Phil allorney for any parry shall be as effective as if given by or to that party. U. CONVEYANCE: Sellm shall Conway title to the real properly by statutory warranly, trustee's, personal representative's Or guardian's deed, as appropriate to the slalom or Seller, sub)oCl Drily to matlars contained In Paragraph Vll and lhose oth-13. occepled by Buyer. Perlonal properly shelf, it the request of Buyer, be lrarmfoFe4 by an AbsePule bill at late with warranty at title, subject only to such manors as nwf be otherwise Provided for 1`10(tirk. V, OTHER AGREEMENTS: No prior or present agreements or roprosenlations shall be bend{ng upon Bnyot Or Safler units$ included In loll Contract. No modtlicallon to or change In this Contract shell be valid or binding upon the parties unless In wrlling and executed by the patty or panto$ Intended to be bound by It. W. WARRANTY: Sailer warrants that Inure are no facts known to $Filler materially allotting the value of the Property which are not readily observable by Boyar or which have not been disclosed to Buyer. O uyar ( 1 ( 1 and Seller (—I I—) acknowledge fecslPI of a copy of 11111 Page. FARIBAR-5 Rov. alga COPYRIGNT 1900 THE FLORIDA BAR AND THE FLOR IDA ASSOCIATI ON OF REAL TORSO This form is licensed for use with Formulator" Form's Software by tSG fvlcAllistet Publishing, Inc- ODO-336.1027 M 'cn 7 � �—„ S ("} 0 O N .'U MZ' M Com] f05 Q F O] N T V 7> N O 7 O N 0 O s -I0 � I 0 D N. .»:$ ro ° 2 Q; 41 roatfrn nro 4.SfL3 7 4. '0a C°9010 "2 v o ° p c c Sr < o n n n a �° 0 p 0 0 0 QN Y O n ~ m m� c ra ° �^ n _ v v CL f7T u O C O O N '� ro• 'D 0 _ l ° 1330.85 Tract Line 30 60' 125' C4 uj 03 iw 7 2 m ° O oaN w -yam N 0 CA c, i C- N a cn sr n v, EA N'c V) x ca v = 2 (/) n� a'�.4 0 r � 4 V) - o p d � mn °� ^� b x," n :O D 4[L r- a z z o o m 60' r z en w c+ c7 "" m P mv � rn m � ck. 30 60' Trac( Line 12j' 5E v m 2,0- (r} 60' Q m -no11 ''All j ° EXHIBIT fL jl :Z: Y Ln ACRD DWG. FILE; 5SW.pwC Plotted 1-5-00 (View '7R7-3") 03!21/2000 • 1 have adjusted the purchase price to reflect the loss of future income from the orange trees (39) that are on the parcel. My research has brought me to this formula. 39 trees (0 $65. each= $2.535.00 The gentleman who has been selling the fruit for me for many years estimates a value of 50 -100 each. Considering the age of the trees I believe 65 is fair. I hope you are in agreement with this adjustment. Thank tion. —41 Bernita Johnston i4arkins