HomeMy WebLinkAboutR-2012-100 - Executed an ''As Is'' Residential Contract for Sale & Purchase Between the City & Sarah Polikar to purchase surplus property located at 21 NW 6 Avenue RESOLUTION NO. 2012-100
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF DANIA
BEACH, FLORIDA, AUTHORIZING THE PROPER CITY OFFICIALS TO
EXECUTE AN "AS IS" RESIDENTIAL CONTRACT FOR SALE AND
PURCHASE BETWEEN THE CITY AND SARAH POLIKAR TO ALLOW
HER TO PURCHASE SURPLUS PROPERTY LOCATED AT 21 NW 6Tx
AVENUE IN DANIA BEACH, FLORIDA; PROVIDING FOR FUNDING;
PROVIDING FOR CONFLICTS; FURTHER, PROVIDING FOR AN
EFFECTIVE DATE.
WHEREAS, the City Commission determined that a number of parcels owned by the
City were surplus and such parcels were formally declared to be surplus, pursuant to Resolution
No. 2012-037 adopted on March 27, 2012; and
WHEREAS, the City Commission held a lottery that selected at random real estate
brokers to represent the City in the sale of the surplus properties at the March 27, 2012 meeting,
and the broker then listed on the Multiple Listing System (MLS) the advertisement of the public
sale of these surplus properties; and
WHEREAS, an offer has been made to acquire one of the parcels as evidenced by an
"As Is" Residential Contract for Sale and Purchase, attached as Exhibit "A", which is made a
part of and is incorporated into this Resolution by this reference; and
WHEREAS, the offer is within ninety percent (90%) of the appraised value of the
property, which complies with City Charter requirements;
NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSIOIN OF THE
CITY OF DANIA BEACH, FLORIDA:
Section 1. That the proper City officials are authorized to execute an "As Is"
Residential Contract for Sale and Purchase between the City and Sarah Polikar to allow her to
purchase surplus property owned by the City and located at 21 NW 6th Avenue in Dania Beach,
Florida.
Section 2. That the City Manager and City Attorney are authorized to make minor
revisions to the "As Is" Residential Contract for Sale and Purchase as are deemed necessary and
proper for the best interests of the City.
Section 3. That all Resolutions or parts of Resolutions in conflict with this
Resolution are repealed to the extent of such conflict.
Section 4. That this Resolution shall be in force and take effect immediately upon its
passage and adoption.
PASSED AND ADOPTED on August 14, 2012.
ATTEST:
LOUISE STILSON, CMC PATRICIA A. FLURY
CITY CLERK MAYOR
�pRp'S FIi�TG
APPROVED AS F AND CORRECTNESS:
� r
THOM S J. SB
CITY ATT EY A �
2 RESOLUTION#2012-100
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS•AND THE FLORIDA BARDR. Im
1 1 L , r
kA am
i- PARTIES; CITY OF DANIA BEACH
2" and SAR 0 (Seller),
T rBuyer').
3 hereby agree that Seger shall sell.and Buyer shall buy the following described Real Property and Personal Property(eollecllvely•Property")
4 pursuanl to the temps and conditions of this Contract for Salo and Purchase and any riders and addenda(•Canliactl:
i I. DESCRIPTION:
6' (a)Legal descrq)tion of the Real Property located In BROWARD County,Florida:
7' TOWN OF MODELO(DANIA)B-49 D LOT 13 BLK 17
8` (b)Street address,city,zip,of the Property:21 NW 6TH AVE DANIA FL 33004.3262
9 (c)Personal Property Includes existing range(s),refdgeral0r(s),(gshwesher(S),calling fan(s),light fixture(s),and window treatments)unless
10 speoitically excluded below.
It, Other hoots included are:
12'
13" Items of Personal Property(and leased gems,if any)excluded are:
IA•
15' IL PURCHASE PRICE ((1.S.currency)..................... ...................................... g f 11.riaa Q0
16 PAYMENT:
17, la)D apos4 hold w,escrow W Royal R9aityInvest ('Escrow Ageml in the arnounl of(checks subject to dearenre) $ 5.000,00,
18, Escrow Agmi ii address:+60$nRUNG ac.DANIA FL Q314(UPON Acanlam:* nd DUMwrv) prior1e:964.00"000
10" lb)Additional escrow deposit to be made to Esmy Agent within days abet Effective Data In the arnamt of....... . $
20' (c)nnancrq,n the amount of rLotin Anwuf tt")see Paragraph IV below........................................... $
21" (d)Osier.................................................................... ... 1; I
22 to)i 01anee to close by coin,weft bensfer or LOCALLY DRAWN cashier's or official bank check(s).subject
23, to adjustments or plorol4ns, 1. ,.,,., _
EFFECTIVE
E DATE:
24 III, TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; FFE $---1QLi,ilf)0 00
t 25 (a)If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated In writing between the parties on or
' 26- before _ 710712012 ,,the deposit(s)wig,at Buyer's option,be returned and this offer withdrawn.Unless other•
2.7 wise stated,the lime for aooeptance of any counteroffers shall be 2 days from the date the counteroffer le delivered.
28 (b)The date of Contract("Effective Data")will be the date when the last one of the Buyer and Seger has signed of Initialed this offer or tl'ra
29 final counteroffer,If such date Is not otherwise sat forth in this Contract,then the"Effective Date"shag be the dato delefmined above'or
30 acceptance of INS offer or,if applicable,the final counteroffer,
31 IV. FINANCING:
32, �l(a)This is a cash transaction with no contingencies for financing;
W. 0(b)This Contract is contingent on Buyer obtaining written loan cgmarrient whloh confirms underwrlting loan approval for a Iran W ptireNse
34" the Properly ("Loan Approval") within `days 0 blank, then 30 days) after Effective Date ("Loan Approval Dote') for(CHECK ONLY
35, ONO:Q a fixed;.❑an adlfustable;or G a fixed or adjustable rate loan,In the Loan Amount(See Paragraph II.(c))at an Initial Interest rate not to
30" exceed 96,and for a terra of years.Buyer will snake application within-_days Of Us*,then 6 days)after Effective Date.
37 BUYER:Buyer shag use reasonable diligence to,obtain Loan Approval;notify Seller in writing of moelpt of Loan Approval by Loan Approval
38 Date:satisfy lams of the Loan Approval;and close the loan.Loan Approval which requires a condition related to the sale of other propaq shall
39 not be deemed Loan Approval for purposes of this subparagraph,Buyer shag pay all loan expanses.Buyer aulhoflzes the mortgage broker(s)and
do lender(s)to disclose iiforrrtadon regarding the conditions,status,and progress of loaf(application and Loan Approval to Seller,Sellars attorney
41 real estate licensee(s),and Closing Agent.
d2 SL;LLER:If Ekiyer does not deliver to Seger written notice of Loam Approval by Loan Approval Dale,Seller may thereafter cancel this Contract by
43 delivering written notice I"Sellerl;Cancellation Notice")to Buyer,but not later thart seven(T)days prior to Closing.Seller's Cancegaikxt Notice shall
44 notty Btryer that Buyer has tivee 0)days to deliver to Seller written notice wtt(vittg this Financing contl Cony,or the Co!ttlaet soar be cancellao.
45 DEPOSIT(S)(for purposes of this Financing Paragraph IV(b)only):II Buyer has used,reasonable diligence but does riot obtain Loan Approval
46 by Loan Approval Dale,and thereafter either party elects to cancel this Conttraot,the deposli(s)shall be returned to Buyer.If Buyer obtains Loan
47 Approval or waives this Financing contingency,and)hereafter the Contract does not close,then the deposg(s)shag be paid to Seger:provided how.
48 ever,it the failure to close Is slue to:()Seller's failure or refusal to close or Seller otherwise fags to rnetX Use terms of the Contract,or(II)B. uyw`a lender
49 falls to receive and approve an appralsA of the Proparty in an amoun;sufficient to most tins temps of the Loan Approval,Ihtin the depoutlsn)shall be
50 returned to Bt er.
51" G(e)Assutttpliont of existing mortgage(see rider for terms);or
52" U(d)Purchase.honey note and mortgage to Seger(see"As Is"Standards B and K and riders;addenda:or spec(al'Clauses for terms),
63' V. TITLE EVIDENCE: At least_days()f blank,then 6 days)before dosing a title insuranco ctxnmitment with legible copnlos of instnunents listed as � 7
64 exceptions attached thereto rTitle Commitment")and,after Closing,an owner's policy of title insurance(sae 8landard A for terms)shag be obtained by
55" (CHECK ONLY ONE); fa(1)Seller,at Seller's expense and delivered to Buyer or Buyer's attorney;or
66, O(2)payer at Buyer's expense. C61.A SEWA
57' (CHECK HERE); J If an abstract of title Is to be furnished instead of title Insurance,and attach rider for terms.
btfi' VI, CLOSING DATE:This transaction shall be(:lose()and llhp closing.documents delivered on ("oohing). voles
59 modified by other provisions of this Contract.In the emit of eArerne weather or other con diiticns or wants cotstitutklg"force urlajt;urir",Closing wig be
60 extended a reasonable time untg:III restoration of utggles and other servtaes essential to Closing,and 0 availability of Hazard,Wind,Flood;or Homeowners'
61" i nsurer>L-e.It such conditions Arxttinu9 more than days ryf biter*,then i 4 days)beyond Closing Date,then glitter party n-qy Cancel this trorinct.
FARrtBAR AS`t1r2 IWA W V 2C07 Fkxida Assodialion of RPSLrens'ark(The%nda Bar An(this Reserved Pagel
La
i
6o 6. EXTENSION OF CLOSING DATE;
funds6`1 (a)it Clusing horn Bays f Otosirl due to -r th-iirt-Lending Act(T
e2 notice requirements, Closing shall be extended for such period necessary to satisfy TiLA notice requirements,
53 not to exceed 7 days.
64 (b)If extreme weather or other condition or event constituting "Force Majeure" (see STANDARD G) causes:
U6 (1) disruption of utilities or other services essential for Closing, or (11) Hazard, Wind, Flood or Homeowners'
ea 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,
5a 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
so 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.
w 6. OCCUPANCY AND POSSESSION: Unless otherwise stated herein, Seller shall at Closing, have removed all
$3 personal items and trash from the Property and shall deliver occupancy and possession, along with all keys,
64 garage door openers, access devices and codes, as applicable,to Buyer. If Property Is Intended to be rented or
65 occupied beyond Closing, the fact and terms thereof and the tenant(a)or occupants shall be disclosed pursuant
CA to STANDARD D. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from
67 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have
as accepted Property In Its existing condition as of tlme'of taking occupancy,
aq T. ASSIGNABILITY; (CHECK ONE) Buyer Q may assign and thereby be released from any further liability
70- under this Contract; [J may assign but not be released from liability under this Contract;.or ® may not assign
71 this Contract.
772 FINANCING
73 8,FINANCING,.
74- ®(a)Buyer will pay cash or may obtain a loan for the purchase of the Property. There Is no financing
75 contingency to Buyer's obligation to close,
7a• ❑(b)This Contract Is contingent upon Buyer obtaining a written loan commitment for a ❑conventional C] FHA
77' p VA loan on the following terms within (if blank, then 30) days.after Effective Date ("Loan
ra' Commitment Date") for (CHECK ONE): ❑ fixed, ❑ adjustable, ❑ fixed or adjustable: rate loan In
70, the principal amount of$ Or %of the Purchase Price, at an Initial Interest rate
V not to exceed % (If blank, then prevailing rate based upon Buyer's creditwohhiness), and for a
all term of years("Financing").
02, Buyer will make mortgage loan appllcatlon for the Financing within (If blank, then 6) days after
83 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing
04 ("Loan Commitment') and dose this Contract. Buyer shall keep Seller and Broker fully Informed about
85 the status of mortgage loan application and'Loan Commitment and authorizes Buyer's mortgage broker and
art Buyer's lender to disclose such status and progress to Seller and Broker.'
a7 K Buyer does not receive Loan Commitment,'then Buyer may terminate this Contract by delivering written
es notice to Seiler, and the Deposit shall be refunded to Buyer,Thereby releasing Buyer!and Seiler from all
i 50 further obligations under this Contract,
so If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's written waiver of
81 this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by
e2 delivering written notice to Buyer and the Deposit shall be refunded to Buyer, thereby releasing Buyer and
93 Seller from all further obligations under this Contract,
i
e4 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not
as thereafter close, the Deposit shall be paid to Seller unless failure to close is due to:.�1) Seller's default;
I 96 (2) Property related conditions of the Loan:Commitment have not been met (except when such conditions
I ; 97 are walved by other provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is
j ! ea insufficleni to most forms of the Loan Commitment;or(4)the loan is not funded due tq flnancial failure of
1 sa Buyer's lender,in which event(s)the Deposll$hall be returned to Buyer,thereby releasing Buyer and Seller
too from all further obligations under this Contract,
rot, p(o)Assumption of existing mortgage(see.rlder'for terms),
102• ❑(d)Purchase money note and mortgage to Saller,(see riders;addenda;or special clauses for terms).
i
' Buyer's initials �-�� Poge 2 of to Seller's Initials I
r, FloridaRealtore/Florida$ar•ASIS-1 Rev.WO 0 2010 Florida RealtomW ano The Florida Bar. All rights reserved.
' i ' This aaftware !e lioanaed to (Noam 8agiv - Royal Ra4ty Invaetment broupjl www.tranaaotion4aak*M.
109 CLOSING COSTS,FEES AND CHARGES
,o4 9. CLOSING COSTS;TITLE INSURANCE;SURVEY; HOME WARRANTY;SPECIAL ASSESSMENTS:
051 (a)COSTS TO BE PA b tr3Y SELLERi
•Documentary stamp taxes and surtax on deed,If any #HOA/Condominium Association estoppel fees
Owners Policy and Charges(If Paragraph 9(c)(1)Is checked) #Recording and other fees needed to cure title
Title search charges(if Paragraph 9(c)(111)Is checked) -Seller's attorneys'fees
Other,
106 If, prior to Closing, Seiler 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),(It)Is checked) -Buyer's Inspections
Survey(and elevation certification,if required) •Buyers attorneys'fees
Lenders.litie policy and endorsements -All property related insurance
HOA/Condominlum Association application/transfer fees
Other:
111, (c)TITLE EVIDENCE AND INSURANCE: At least (If blank, then 6) days prior to Closing Date, a title
112 insurance commitment Issued by a Florida licensed IIUe Insurer, with legible copies of Instruments listed as
us exceptions attached thereto ("Title Commltmentl) and,after Closing, an owner's policy of title Insurance (see
114 STANDARD A for terms) shall be obtained end delivered to Buyer. If Seller has an ow.naes;policy of title
115 Insurance covering the Real Property,a copy shall be furnished to Buyer and Closing Agent within 6 days after
115 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
no (CHECK ONE):
1io ;1) Seller will designate Closing Agent and pay for Owner's Policy and Charges(but not including charges
for closing services related to Buyer's lenders policy and endorsements and loan closing, which amounts
1 1 ghll be paid by Buyer to Closing Agent or such other providers)as Buyer may select);or
12z' (II) euYer will designate Closing Agent and pay for Owners Policy and Charges and charges for closing
j 123 services related lo-Buyer's lenders policy, endorsements,and loan dosing;or
124' p(lit)(MIAMI-DADE/BROWARD REGIONAL PROVISION): Seller will furnish a copy of a prior owner's policy
126 of title Insurance or other evidence of title and pey fees for: (A)a continuation or update of such,title evidence,
! M which Is acceptable to Buyer's title Insurance underwriter for reissue of coverage; (B) tax search; and
127 (C) municipal lien search. Buyer shall obtain and pay for post-Closing continuation and premium for Buyers
120 owners•policy, and if applicable, Buyer's lenders policy. Seller shall not be obligated to pay more than
129, $ (if blank,$200.00)for abstract continuation or title search ordered or performed by Closing
130 Agent.
131 (d)SURVEY: At least 6 days prior to Closing, Buyer may, at Buyers expense, have the Real Property surveyed
1sz and certified by a registered Florida surveyor("$urvey"), If Seller has a survey covering the ReIal Property, a
i 133 copy shall be furnished to Buyer and Closing Agent within 6 days after Effective Date,
,s4• (a)HOME WARRANTY: At Closing, [J Buyer. p, Seller (M N/A will pay for a home warranty plan Issued by
lair at a cost not to exceed $, A home
I 136 warranty plan provides for repair or replacement of many of a home's mechanical systems and major built-in
i 137 appliances In the event of breakdown due to nor6al wear and tear during the agreement's warranty period.
138 (f) SPECIAL ASSESSMENTS: At Closing, Seller Will pay, (i) the full amount of Ilene imposed by A public body
139 ("public body"does not Include a Condominium pr Homeowners Association)that are certifled,confirmed and
140 ratified before Closing; and (11) the amount of the public body's most recent estimate or assessment for an
14l Improvement which is substantially complete as of Effective Date, but that has not resulted 1r,1 a lien being
i 142 Imposed on the Property before Closing; Buyer Wil pay all other assessments. If special assessments may
i 143 be paid in Installments;(CHECK ONE): I
i 144' ® (a) Seller shall pay installments due prigr to Closing and Buyer shalt pay Instollmefts due after
145 Closing.Installments prepaid or due for the year of Closing shall be prorated.!
146' ❑ (b) Seller shall pay the assessment(s)'In full prior to or at the time of Closing.
147 IF NEITHER BOX IS CHECKED,THEN OPTION.(a)SHALL BE DEEMED SELECTED,
148 This Paragraph 9(0 shall not apply to a special benefit tax lien Imposed by a community development district
149 (CDD)pursuant to Chapter 190 F,S.which lien shall be treated as an ad valorem tax and prorated pursuant to
tso STANDARD K.
i
' Buyers Inillais -� Rape P of 10 9eiler'a Initials
FloridaRealtors/Floridh or-ASrS-1 Rev.6110 0 2010 Florida ReartorM.and The Florida Bar. All fights reserved ,
' This software is lioenasd to (Noaln Sa iV Royal Roalty Invsstmsnt croup) WWW,trap Nita tiont'ask. Oa. W'�
181 DISCLOSURES
152 10, DISCLOSURES:
163 (arMON GAS;Radon-is-u-naturally-occurring-Tadioactiv"s-that-, when-it-is-accumulated-in--a-btdlding--in----
M 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
IN radon and radon testing may be obtained from your county health department.
W (b)PERMITS DISCLOSURE: Except as may have peen disclosed by Seller to Buyer In a written disclosure,
168 Seller does not know of any Improvements made to the Property which were made without required
i59 permits or made pursuant to permits which have not been properly closed.
1W (c)MOLD: Mold Is naturally occurring and may cause health risks or damage to property. If Buyer Is concerned or
16i 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"
las or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may
IN terminate this Contract by delivering written notice to Seller within 20 days after Effective Date, falling which
167 Buyer accepts existing elevation of buildings and flood zone designation of Property.
tau (e)ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficlency Rating Information Brochure
169 required by Section 563.996, F.S.
170 (f) LEAD-BASED PAINT: If Properly includes pre-1978 residential housing, a lead-based paint rider is
171 mandatory.
172 (g)HOMEOWNERS' ASSOCIATIONiCOMMUNITY, DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS
173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS'
174 ASSOCIATION/CQMMUNITY DISC LOSURE,JF;APPLICABLE,
176 (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
- ; i77 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE, A CHANGE OF OWNERSHIP ORr PROPERTY
Ira IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER
179 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE
it* COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION.
„j tst (1) TAX WITHHOLDING.,If Seiler Is a"foreign person"as defined by the Foreign Investment in•Real Property Tax
F i 102 Act("FIRPTA"),Buyer and Seller will comply with,FIRPTA,which may require Seller to provide additional cash
IB3 at Closing,
184 (j) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are
1e6 not readily observable and which have not been disclosed to Buyer.Except as stated in the preceding sentence
IN or otherwise disclosed In writing: (1) Seller has'recelved no written or verbal notice from;any governmental
107 entity or agency as to a currently uncorrected building, environmental or safety code violation; and (2) Seller
1 1Bs extends and Intends no warranty and makes no representation of any type, either express or implied,as to the
M physical condition or history of the Property, i
too PROPERTY MAINTENANCE,CONDITION., INSPECTIONS AND EXAMINATIONS
tot 11. PROPERTY MAINTENANCE: Except for ordinary Wear and tear and Casualty Loss, Seller shall;maintain the
j 102 Property, Including, but not limited to, lawn, shrubbery, and pool, In the condition existing as of 41feclive Date
193 ("AS IS Maintenance Requirement"),
194 12. PROPERTY INSPECTION;RIGHT TO CANCEL:' '
tov (a)PROPERTY INSPECTIONS AND RIGHT TO•CANCEL:Buyer shall have 10 (U block, 16) days front
I 19s Effective Date("inspection Perlod') within which to have such Inspections of ilia Property performed
197 as Buyer shall de'slro during the inspection.Perlod,If Buyer determines,/n Buyer's sole discretion, that
1aa the Property Is not acceptable to Buyer,Bhyer.may terminate this Contract by delivering written notice
+ 109 of such election to Seller prior to expiration of Inspection Period, If Buyer timely terminates this
200 Contract, ilia Deposit paid shall be Immediately returned to Buyer, thereupon, Buyer anq Seller shall
20t be released of all further obllgations,under jthis Contract; however, Buyer shell bo respponsible for
202 prompt payment for such Inspections, for repair of damage to, and restoration of, ilre Property
203 resulting from such Inspections, and shall provide Seller with paid receipts for all work done on the
I ; 204 Property(the preceding provision shall survive termination of this Contract), Unles* Buyer exercises I
i zos the right to terminate granted herein, Buyer,accepts the physical condition of the Property and any
zoo violation of goverarnolntal,building,environmental,and safety codes,restrictions,or requirements,but
207 subject to Seller's continuing AS iS lWaintena(nce Requirement, and Buyer shall be rospon,slb/e for any
zoo and all repairs and Improvements required by,Buyer's lender.
Buyer's Initials ��:17 Page A of 10 Sellars Initials
FlorldaRealtors/FlaldaBar:ASIS-1 Rev.a110 0 2010 Flodda ReallorsO and The Florida Bar. NI rights reserved.
This software io licensed to (Norm sagiv Roygl Realty inveotmattt tlroup) www,tranesatiattdeak.opm. �I'pJS
. I ,
i
200 (b)WALK-THROUGH INSPECTION/RE-INSPECTION:On the day prior to Closing Dale,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
-- m--foflowvp-walk-through;-If-rrocessary)--inspeetk rrof-the-Property--solely-to-conflrnrthat--alFltems-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 Buyers
215 Inspection of the Property identifies open or needed building permits, then Seiler shall promptly deliver to
216 Buyer all plans, written documentation or other information in Sellers 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 Buyers efforts to obtain estimates of repairs or other work necessary to
219 resolve such Permit Issues, Seller's obligation to cooperate shall Include Sellers 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
712 become obligated to expend,any money,
223 (d)ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyers 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. ESCROW AGENT:Any Closing Agent or Escrow Agent(collectively "Agent"),receiving the Deposit, other funds
228 and other Items is authorized, and agrees by acceptance of them,to deposit them promptly,hold same in escrow
229 within the State of Florida and, subject to COLLECTION, disburse them In accordance with terms and conditions
i 230 of this Contract.Failure of funds to become COLLECTED shall not excuse Buyer's performance,When conflicting
Y P g
231 demands for the Deposit are received or Agent has a good faith doubt as to entitlement to.the Deposit, Agent
g 9 Po g
232 may take such actions permitted by this Paragraph 13,as Agent deems advisable, If In doubt as to Agent's duties
233 or liabilities under this Contract, Agent may; at Agent's option, continue to hold the subject matter;of the escrow
234 until the parties agree to Its disbursement or until a final Judgment of a court of competent:jurisdiction shall
235 determine the rights of the parties,or Agent may deposit same with the clerk of the circuit court having jurisdiction
236 of the dispute. An attorney who represents a party and also acts as Agent may represent such'pariy In such
237 action. Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate,
238 except to,the extent of accounting for any Items previously delivered out of escrow; if a licensed real estate
239 broker, Agent will comply with provisions of Chapter 475, F.S,, as amended and FREC, rules to �Imely resolve
24o escrow disputes through mediation, arbitration, Interpleader or an escrow disbursement order.
241 Any proceeding between Buyer and Seller wherein Agent Is made a party because of acting as Agent hereunder,
242 or n any proceeding where Agent interpleads.the subject matter of the escrow, Agent shall recover reasonable
243 attorney's fees and costs Incurred, to be paid pursuant to court order out of.the escrowed funds;or equivalent.
244 Agent shall not be liable to any party or person for mis-delivery of any escrowed Items,unless such mis-detivery Is
245 due to Agent's willful breach of this Contract or.Agent's gross negligence,This-Paragraph 13.shah survive Closing
246 or termination of this Contract.
247 14, PROFESSIONAL ADVICE; BROKER LIABILITY:;Broker advises Buyer and Seller to verifyiProperty condition,
24e square footage,and all other facts and representations made pursuant to this Contract and to:consylt appropriate
249 professionals for legal, tax,environmental,and other specialized advice concerning matters affecting.the Property
260 and the transaction contemplated by this Contract, broker represents to Buyer that Broker does not reside on the
20 property and that all representations(oral,written or otherwise)by Broker are based on Seller representations or
s 262 public records, BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND
253 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND
254 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL,
I 266 WRITTEN OR OTHERWISE) OF BROKER, Buyer and Seller (Individually, the 'Indemnifying' Party") each
2W individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and
267 employees from all liability for loss or damage, Including all costs and expenses, and reasonable attorney's fees
258 at all levels, suffered or Incurred by Broker and Brokers officers, directors, agents and employees;In connection
2w with or arising from claims,demands or causes,of action instituted by Buyer or Seller based pn: (I),Inaccuracy of
2e0 lniormallon provided by the Indemnifying Party or irpm public records;(11) Indemnifying Par1y's,mIsslstement(s)or
261 failure to perform contractual obligations; (111) B'roker's performance, at Indemnifying Party's reque t, of any task
" ! W2 beyond the scope of services regulated by Chapter 476, F,S'„ as amended, including Brokers referral,
I 263 recommendation or retention of any vendor for, or on behalf of, Indemnifying Party; (Iv),pfodu4s or services
� j 1 2s4 provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses Inorred by any such
iG.• I 2W vendor,Buyer and Seller each assumes full responsibility for selecting and compensating them respective vendors
l I 2Wand paying their other costs under this Contract whether or not this transaction doses, This Paragraph 14 will not
i 207 relieve Broker of statutory obligations under Chapter 475, F•S.,.as amended, For purposes of this Paragraph 14,
Buyers Initials ,{7 Page 6 of 10 Seller's Imitate
!:'1 FloridaReeltorelftrkraBar-ASIS-1 Rev.6/1002010 Plorlda Reallotes aqd The Florida Bar. All dghla reselvod.
io 'this software is liaanaed to (Noam 8sgiv - Royal Realty Investment (rroup) www,tranaeatlo»desk.�om. 1��fAl�f
rims
1 ;
r1 '
266 Broker will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this
269 Contract.
_._---2ro-- --- -- --------OEFAUL-T-ANO-DFSPUT-E--RESOLUTION----
271 16,DEFAULT:
272 (a)BUYER DEFAULT: If Buyer falls, neglects or refuses to perfonn Buyer's obligations under this Contract,
273 Including payment of the Deposit, within the times) specified, Seiler 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 Seiler 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
260 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 falls, neglects or refuses to perform Seller's obligations under this Contract,
203 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,
206 18. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and
2e7 Seller arising out of, or relating to, this Contract or Its breach, enforcement or Interpretation (Dispute") will be
288 settled as follows: j
2aa (a)Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to
200 resolve such Dispute, failing which, Buyer end Salter shall submit such Dispute to mediation under
20t Paragraph 16(b),
NJ (b)Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation;pursuant to Florida
2e3 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
2% may be resolved by instituting action In the appropriate court having jurisdiction.of the matter;This;Paregraph 16
297 shall survive Closing or termination of this Contract.
2a5 17. ATTORNEY'S'FEES;,COSTS: The parties will spllWqually any mediation fee•incurred in any mediation permitted
gas by this Contract,and each party will;pay their own costs,expenses and fees, Including attorney's fees,incurred In
30o conducting the mediation. In any litigation permitted by this Contract, the prevailing party shall The 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 terminatlon.of this Contract.
i STANDARDS FOR REAL ESTATE TRANSACTIONS("STANDARDS")
w4 18. STANDARDS: ,
3os A. TITLE:
3w (i) TITLE EVIDENCE; RESTRICTIONS; EASEMENTS; LIMITATIONS: Within the time pedodi provided in
3o7 Paragraph 9(c), the Title Commitment, with legible copies of Instruments listed as exceptions attache thereto, shall
3w be Issued and delivered to Buyer, The Title Commitment shall set forth those matters to be discharged y Seller at or
3w before Closing and shall provide that, upon recording of the deed to Buyer,an owner's policy of title insurance In the
t I 310 amount of the Purchase Price, shall be Issued to Breyer Insuring Buyer's marketable title to.the Real Property,
air subject only to the following matters: (a) comprehensive land use plans, zoning, and other land use restrictions,
3t2 prohibitions and requirements Imposed by governmentol authority; (b)restrictions.and matters appearing on the Plat
i 313 or otherwise common to the subdivision; (c) outstanding oil, gas and mineral rights of record withoutAght of entry;
;> I 314 (d)unpiatted public utility easements of record(focal6d'oontiguous 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); (a) taxes for year of Closlpg and subsequent
316 years; and (f) assumed mortgages and purchase.mogey mortgages, If any (if additional Items„attaoh addendum);
W provided, that none prevent use of the Property for IRESIDENTIAL PURPOSES. If there exists at Closing any
31s violation of Items identified In (b)-(f) above, then.the soma shall be deemed a title defect. Marketable title shall be
t. 3rs determined according to applicable Title Standards adopted by authority of The Florida Bar and`,in,accordance with
320 law.
321 01) TITLE EXAMINATION: Buyer shall have b da s;after receipt of Title Commitment to examine, it and notify
322 Seiler In writing specifying defect(s), If any, that rendeCttlle unmarketable. If Seller provides TI(IelCommitment and it
i 323 Is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for-up to 5 days after
I 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 dlligent efforts to remova defects, If Buyer fails to sq notify Seller,
326 Buyer shall be deemed to have accepted title as-it than Is. If Seller cures defects within C 8 Period, Seller will
Buyees Initials Page 6 of 10 8allses Initials 111
FloridaRealtorerFiorideBer ASIS-1 Rev.6110 0 20 0 Florida Reallors0 aid The Florida Bar. All rights reserved
I �
This software is liasnsod to ►Moam 8agiv - Royal Raglty Inveatment Group) www.trageaot1opda0k.poM. �MIN
i i ,
327 STANDARDS FOR REAL ESTATE TRANSACTIONS(CONTINUED)
32s deliver written notice to Buyer (with proof of cure acoeptabie to Buyer and Buyer's attorney) and the parties will
3zs-close-thl"untract-on-Closing--Date-(or-ff-Ctosing-Dat"a"ssed;-within-i days-after-Buyer's-receipt-of`Seller's----
33o notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 6 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
336 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from
336 all further obligations tinder 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,
339 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 regulations ulations described In STANDARD A i a , b or(d above, Buyer shall deliver written notice of such
9 9
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
3-14 shall constitute a title defect, 'subject to cure obligations of STANDARD A above. If Seller has delivered a prior
345 survey, Seller shah at Buyers request, execute an affidavit of "no change to the Real Property since the
� Y q
34e preparation of such prior survey,to the extent the affirmations therein are true and correot.
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.
349 D. LEASES: Seller shall, within 5 days after Inspection Period, furnish to Buyer copies of all written leases and
35o estoppel letters from each tenant specifying nature and duration of tenant's occupancy, rental rates, advanced rent
351 and security deposits paid by tenant, and Income and expense statements for preceding 1;2 months ("Lease
352 Information"). If Seller Is unable to obtain estoppel letters from tenant(s), the same Informatlon'shall be furnished by
i ? 353 Seller to Buyer within that time period In the form of alSellers affidavit, and Buyer may thereafter contact tenant(s)
364 to confirm such information. If terms of the lease(s)differ materially from Seller's representations, Buyer may deliver
ass written notice to Seller within 5 days after receipt of Lease Information, but no later than 5.days prior to Closing
3% Date, terminating this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all
< 3w further obligations under this Contract. Seiler shall, at'Closing, deliver and assign all original leases :to, Buyer who
I 366 shall assume Seller's obligation thereunder.
3se E. LIENS: Seller shall furnish to Buyer at Closing!an affidavit attesting; (1) to the absence of any financing
36o statement,claims of Ilen or potential Ilenors known to Seller,and(11)than there have been no Improvements or repairs
I 361 to the Real Property for 90 days immediately preceding Closing Date. If the Real Properly has been improved or
362 repaired within that time, Seller shall deliver releases or waivers of construction liens execUled l?y all general
3a3 contractors, subcontractors, suppliers and malerialmen In addition to Seller's Ilen affidavit setting forth names of all
364 such general contractors, subcontractors, suppliers' and matedelmen, further affirming that all: charges for
3% Improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been paid
30 or will be paid at Closing,
3e7 F. TIME: Calendar days shall be used in computingtime periods. Any time periods provided for In;this Contract
Sea which shall end on a Saturday, Sunday, or a natlonai,legal holiday (see 6 U.S.C. 6103) shall extend to 5:00 p.m.
309 (where the Property Is located)of Ilia 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 b Force Ma eure. "Force Ms eure means; hurricanes, earthquakes, floods, fire, ac s,of,God, unusual
373 transportation delays, wars, Insurrections, acts of terrorism, and any other cause not reasonably within control of
r 374 Buyer or Seller,and which, by exerolse of reasonable diligent effort,the non-performing party Is unable'In whole or In
1 375 part to prevent or overcome. All time periods, Including Closing Date, will be extended for the period that the Force
37e Majeure prevents performance under'thls Contract, provided, however, if such Force Majeura continues to prevent
377 performance under this Contract more than 1.4 days;beyond Closing Dale, Then either party may terminals this
37s Contract by delivering written notice to the other and ilhe Deposit shall be refunded to Buyer, thereby releasing Buyer
379 and Seller from all further obligations.under lhis,Contract,
. 380 H. CONVEYANCE: Seller shall convey marketable itiUe to the Real Properly by statutory Warranty, trustee's,
3a1 personal representative's,or guardian's deed,as appropriate to the status of Seller, subject only tQ matters described
f i 392 In STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyeri be transferred by
w absolute bill of sale with warranty of title,subject only to,such matters as may be provided for in this Contract.
1 3a4 1. CLOSING LOCATION;DOCUMENTS;AND PROCEDURE:
X5 (1) LOCATION: Closing will take place In the county where the Real Property is located at .the. office of the
Sae attorney or other closing agent ("Closing Agent") designated by the party paying for the ner's policy of title
Buyer's Initials Pads 7 of 10 Sellers Irtilial
FiorldaReallor$/FlorldaBar-ASIS-1 Rev.$110 0 2010 Florida Realtors®arld The Florida Our All rights reserved
This software is lioanaed to tNoam riagiV Royal Realty Invsotmont Proyp) www.tranaaotAogdaMk.pom. � S�a r
• ! I
307 STANDARDS FOR REAL ESTATE TRANSACTIONS(CONTINUED)
Sea Insurance,or, if no title Insurance,designated by Seller.Closing may be conducted by mail or electronic means.
CLOSING-DOCUMENTS:-AI- Glosing�-Seller-shall-furnish-and-pay-for,—es--applicable;deed;-bill�f-sale,---»---
390 certificate of title, construction ilen affidavit, owner's possession affidavit, assignments of leases, and corrective
391 instruments, Seller shall provide Buyer with paid receipts for all work done on the Property pursuant to this Contract.
352 Buyer shall furnish and pay for, as applicable, mortgage, mortgage note, security agreement, financing statements,
393 survey,base elevation certification,and other documents required by Buyer's lender.
394 (lit) PROCEDURE: The dead shall be recorded upon COLLECTION of all dosing funds. If ilia Title
39.,, Commitment provides Insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the
39a escrow dosing procedure required by STANDARD J. shall be waived, and Closing Agent shalt, subject to
397 COLLECTION of all closing funds,disburse at Closing the brokerage fees to Broker and the net sale proceeds to
age Seller.
399 J. ESCROW CLOSING PROCEDURE: If Title Commitment Issued pursuant to Paragraph 9(c) does not provide
-= 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
.roe 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 Seiler shall have 30 days from date of receipt
404 of such notification to cure the defect; (3) if Seller falls to timely cure the defect, the Deposit and all Closing funds
4m paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, simultaneously with
nos such repayment, Buyer shall return the Personal Property, vacate the Real Property and re-convey the Property to
4o7 Seller by special warranty deed and bill of sale; and:(4) if Buyer fails to make timely demand for refund of the
40e 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 K. PRORATIONS; CREDITS: The following recurring Items will be made current (if applicable) and prorated as of
4r1 the day prior to Closing Dale, or date of occupancy if occupancy occurs before Closing Date: real estate taxes
412 (including special benefit tax assessments imposed,by a CDD), Interest, bonds,,association fees, insurance, rents
413 and other expenses of Property. Buyer shall have option of taking over existing policies of insurance,If assumable,In
+ 414 which event premiums shall be prorated, Cash at Closing shell be Increased or decreased as may be required by
' 416 prorstions to be made through day prior to Closing. Advance rent and security deposits, If any, will be credited to
41e Buyer. Escrow deposits held by Seller's mortgagee will be paid to Seller. Taxes shall be prorated baseed on current
i 417 year's lax with due allowance made for maximum allowable discount, homestead and other exemptions, If Closing
f 418 occurs on a date when current year's miilage Is not.fixed but current year's assessment Is available j taxes will be
i 419 prorated based upon such assessment and prior year's mplage, If current year's assessment Is;not available, then
420 taxes will be prorated on prior year's tax. If there are Camplated Improvements on the Real Property by)anuary 1st of
421 year of Closing,which Improvements were not in existence on January 1 at of prior year, then taxes shall be prorated
422 based upon prior year's mlllage and at an equitable assessment to be agreed upon between the partes,,falling which,
4xa request shall be made to.the County Property Appraiser for an Informal assessment taking Into account available
424 exemptions. A tax proration based on an estimate shall, at either party's request, be readjusted upon receipt of
426 current year's tax bill.This STANDARD K shall survive Closing,
42o L. ACCESS TO PROPERTY TO CONDUCT APPitAISALS, INSPECTIONS, AND WALK-THROUGH: Seller
427 shall, upon reasonable notice, provide ulilltles service and access to Properly for appraisals anq Inspections,
42e including a walk-through(or follow-up walk-through.if necessary)prior to,Closing. I
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 restorallon (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 phall proceed
: 432 pursuant to terms of thls,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 1.6%,of Purchase
435 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration.exceeds 1,5% of
43o Purchase Price, Buyer shall elect to either lake Properly "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 ��pp le obligation
430 with respect to,tree damage by casualty or other natural+accurrence shall be cost of pruning or removal:
43e N. 1031 EXCHANGE: Walther Seller or Buyer wish to enter Into a like-kind exchange (either simu taneous with ,
440 Closing or deferred)under Section 1031 of the Internal Revanue Code("Exchange"), the other party shall cooperate
; 441 in all reasonable respects to effectuate the Exchange, including execution of documents; provided, however, i
1 ! 442 cooperating party shall incur no liability or expanse related to the Exchange, and Closing shall not be contingent
j 443 upon,nor extended or delayed.by,such Exchange.
`( � I 444 0, CONTRACT NOT RECORDABLE; PERSONS- BOUND; NOTICE; COPIES: Neither this Contract nor any
1 445 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 their respective heirs or successors In Interest, Whenever the context permits, singu shall'Include plural
i Buyer's Initials _. _ Page 6 of 10 Seller's Initial
FlorldaRealtors/FloridaBar-ASIS•1 Rev.6/10 ir+2010 Florida RealtorsO.and The Florida Bar. All rights Wowed.
tThie egftwaza le lioenead to INown BagiV Royal 8661Cy YnveatIOnt Group) www,tsanasotion¢aek.Gom.
, } i I
i
447 STANDARDS FOR REAL ESTATE TRANSACTIONS(CONTINUED)
440 and one gender shall include all. Notice and delivery given by or to the attorney or broker(Including such broker's real
449---estate-ttcansae)-representing-any party-shall-be-as-effective-as-if-gfvetrby-orAo-(hat-party,--Aat-notices-must-be-In--------
450 writing and may be made by mall, personal delivery or electronic pncluding "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.
459 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement
464 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or
465 representations shall be binding upon Buyer or Seller unless Included In this Contract. No modification to or change
45s In this Contract shall be valid or binding upon Buyer or,Seller unless In writing and executed by the parties Intended
467 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,
404 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
4w Closing Agent until such amounts have been COLLECTED In Closing Agent's accounts,
467 T. LOAN COMMITMENT: "Loan Commitment" means a statement' by the lender setting forth the terms and
468 conditions upon which the:lender is willing to make a particular mortgage loan to a particular borrower.
469 U. APPLICABLE LAW AND VENUE:This Contract shall be construed In accordance with the laws of the Slate of
47o Florida and venue for resolution of all disputes,whether,by mediatlon,art7ltration or litigation,shall Ile In(he county in
471 which the Real Property is located.
472 X. BUYER WAIVER OF CLAIMS: Buyer waives any clahns against Sailor and, to the extent permitted by
475 law, against any real estate licensee Involved in the negotiation of this Contract, for any defeats or other
474 damage that may exist at Closing of Vila Contract and be subsequently discovered by the Buyer or anyone
475 cialming 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):
i
(]A. Condominium Assn. ❑L. RESERVED ❑R.Rezoning ❑Y. Seller's 6ttorney
❑B. Homeowners'Assn. ❑S. Lease Purchase/ Approva)
❑C, Seller Financing ❑M.Defective Drywall Lapse Option ❑Z. Buyer's 6ttorney
CID. Mortgage Assumption ❑N. Coastal Construction ❑T, Pre-Closing Approval
❑E. FHA/VA Financing Control Line Occupancy ❑AA. Llcensee-Personal
❑F. Appraisal Contingency [10.Insulation Disclosure ❑U.Post-Closing interest In Property
❑G. Short Sale O P. Pre-1978 Housing Occupancy ❑BB. Binding Arbitration
❑H. Homeowners'Insurance Statement(Lead, ❑V. Sale of Buyer's ❑ Other
❑ 1. FIRPTA Based Paint) Properly
❑J. Interest-Bearing Acot. El 0.Housing for Older ❑W,Backup Contract
❑K. RESERVED Persons ❑X. Kick-out Clause,
r .f 1 479. 20. ADDITIONAL TERMS:
460'CASH OFFER. AS I$ WITH RIGHT TO INSPECT.
o I 481
C ►
b
A62' Ca
,4 ; lt r2Rt 15 5t,r3JEaT T� ,q.wtt4 Imo• E c>F-P -rY CnNcHt Is.�/a�)
4�: �PP�ov►4i. AN ID, TV C to S t N� off F �� 3 ana oil.
I. le '7 �o k'E Irw 6N'1� � °� t f>Ys AFT Co MM� I S 51 o ti1
480
i I 489'
491
492'
493.
Buyer's Initials I Page 9 of io Seller's Initials
FlorldaReaitors/Florido er• SIS•1 Rev:e110 2010 Floritla Realtors®et♦d The Florida Bar. All rights reserved.
I
Thin software is licensed Co 111044 eag4V Royal.ltanity investment Oroup) www.traneaatlondaAk, om. f�pr1,� �
404 COUNTER-OFFER/REJECTION
4sr• ❑ Seller counters Buyer's offer(to accept the counter-offer, Buyer must sign or initial the counter-offered terns and
—_---4w -dellver-a copy-of the-acceptance-to
_-- — --- --- —__
497' ❑ Seller rejects Buyer's offer,
49s THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.IF NOT FULLY UNDERSTOOD,SEEK THE ADVICE
499 OF AN ATTORNEY PRIOR TO SIGNING,
Boo THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR.
sot Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the lerins
sot and conditions In this Contract should be accepted by the parties in a particular transaction. Terms and conditions
co:+ should be negotiated based upon the respective Interests, obi9otives and bargaining positions of all Interested
604 persons.
cos AN ASTERISK(')FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO
sob BE COMPLETED.
Eo-r Buyer; -`G•�1 Date: •
sob- Buyer: Date:
srra' Seller: Dale:
510, Seller: Date:
611 Buyer's address for purposes of notice Seller's address for purposes of notice
612'
513,
514'
610 BROKER, Listing and Cooperating Brokers, if any,named below(collectively,"Broker"),are the ogly Brokers anQtled
6te 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
sits agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has
619 retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of oompensation
620 made by Seller or Listing Broker to Cooperating Brokers,
621 Noem sagiv Mario A saldison
s22 Cooperating Sales Associate, If any Listing Sales Associate
623 Royal Realty Xnveatsnent group Royal Realty tnvestmeht group
i 524 Cooperating Broker,If any ! Listing Broker '
I
I I
I I
I
Page 10 of 10
FloridaReallore/FlorldaBar-A816.1 Rev.6110®2010 Florida RoallomO ianO The Florida Bat. Ni rights reserved.
This software is lioensed to (Noast gayiv - Roygl Rsaity Investment Group] www.traneaotiondesk.gom,
I
chi � o r rn
v> w y a.
m o
W
Q
i
o c 0 rn U a:i co c� r CO o coO
2
s
XSt oS o � ro
N) d
U U
R
t0 q" 'n
e N "
lU ik ik to
,t�P
79
� Y � z
IOU z
}}�{ CV
° jge
y f od oo, C3 00 N (f3
0