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R-2012-101 - Executed an ''As Is'' Residential Contract for Sale & Purchase Between the City & Rodolfo Solorzano to Purchase Surplus Property Located at 1303 SW 2 Avenue
, RESOLUTION NO. 2012-101 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 RODOLFO SOLORZANO TO ALLOW HIM TO PURCHASE SURPLUS PROPERTY LOCATED AT 1303 SW 2ND 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 meets the appraised value of the property, which was provided by exhibit to the City Commission on March 27, 2012; NOW THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION 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 Rodolfo Solorzano to allow him to purchase surplus property owned by the City and located at 1303 SW 2"d 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 That all Resolutions or parts of Resolutions in conflict with this Resolution are repealed to the extent of such conflict.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 IS F1 �Qo�PSiDgSrG�� APPROVED AS TO ORM AND CORRECTNESS: THOMAS J. ANSB O CITY ATTORNEY 2 RESOLUTION#2012-101 i S IS" Reaicendal f3,a:.vtCi Foe Sale Arid 'Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA REA//L��TORS AND THE FLORIDA BAR PARTtE Qf s�'�`'�I ���•�, ("Sailor'), and ("Buyer'). 3 agree that Seller hall sell and Buyer shall buy the following described Real Property and Personal 0 Property(collectively 'Properly') pursuant to the terms and conditions of this AS IS Residential Contract For Sale � b And Purchase and any riders and addenda ('Contract ). 6 ?. PROPERTY DESCRIPTION: 7• (a)Street address,city,zip: U:5 IrV 2(la Ate. Da kJ w'+ f=L a• (b)Property is located h County,Florida.Real Property Tax ID No: OO 9• (c)Legal description of a Real Pro (L 1 I together with III existing improvements and fixtures, Including built-in appliances, built-in furnishings and :2 attached wall-to-wall carpeting and flooring(Real Property")unless specifically excluded below. 13 (d)Personal Property: The following items owned by Seller and existing on the Property as of the date 14 of the initial offer are Included in the purchase ('Personal Property"): (1) range(syoven(s), dishwasher(s), s disposal, ceiling fan(s), intercom, light fixtures, rods, draperies and other window treatments, garage door ie openers, and security gate and other access devices; and (il) those additional items checked below. If 1T• additional details are necessary,specify below. If left blank,the Item below Is not Included: Refrigerator(s) Smoke detector(s) Pool barder/lence Storage shed Miaowave oven Security system Pool equipment TV antenna/satellite dish Washer Windowhmll a/c Pool heeler �Waler softener/purifier Dryer H Generator Spa or hot tub with healer ❑Storm shutteis and Stand-alone ice maker Above ground pool panels 1s The only other items of Personal Property included In this purchase, and any additional details regarding 19• Personal Property, If necessary,are: 20• 21 Personal Property is included in the Purchase Price,has no contributory value,and shall be left for the Buyer. 22' (e)The following items are excluded from the purchase: 23, 2 2. PURCHASE PRICE (U.S, currency):.......................................,................................. S R9..coo 25' (a)Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ 2e The initial deposit made payable and delivered to'Escrow Agenr named below 5' non 27• (CHECK ONE): accompanies offer or❑Is to be made upon acceptance(Effective Date) v as• or[]is to be made within (it blank, then 3)dns after Effective Date 20• Escrow Agent Information:Name: Jell C 1 10• Address:27-0 W :✓✓ Phone: 31• E-mail: Fax: 32• (b)Additional deposit to be delivered to Escrow Agent within (if blank,then 3) 331 days after Effective Date. ...... ............ ... ........... . . .. ...$ 34 (Ali deposits paid or agreed to be paid,are collectively referred to as the"Deposit') ss• (c)Financing:Express as a dollar amount or percentage(`Loan Amount')see Paragraph 8....... ._ -� 36• (d)Other. ... .S » (e)Balance to close(not including Buyers closing costs,prepaids and proration)by wire 34' transfer or other COLLECTED funds............................... ................$ 311 NOTE:For the definition of"COLLECTION"or"COLLECTED"sae STANDARD S. e0 ]. TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS;EFFECTIVE DATE: 41• (a)If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before 42• ''�i Z —this offer shall be deemed withdrawn and the Deposit, if any. will be returned to Buyer. - 43 Unless otherwise stated, time for acceptance of any counter-offers shall be within 2 days after the day the u counter-offer is delivered, as (b)The effective date of this Contract will be the date when the last one of the Buyer and Seller has signed o 46 initialed this offer or final counter-offer("Effective Date'). CLOSING DATE; Unless modified by other provisions of this Contract, the closing of this transaction shall occur and the closina documents required to be furnished by each party pursuant to this Contract shall be delivered ('Closing'} ('Closing Date'),at the time established by t .Closing Agent. 5ecz cA A..'rlv 'a v e rs Initials Page 1 of 10 Sellers Initials IaideReallorsrFbri r A515.1 Rev.6/100 2010 Fbude ReaKom0 and The Florida Oar. NI rights mseNed. fonnsimnlicity r so 6. EXTENSION OF CLOSING DATE: 51 (a)If Closing funds from Buyer's lender(s)are not available at time of Closing due to Truth In Lending Act(TILA) 52 notice requirements, Closing shall be extended for such period necessary to satisfy TILA notice requirements, 63 not to exceed 7 days. 64 (b)If extreme weather or other condition or event constituting "Force Majeure" (see STANDARD G) causes: 66 (1) disruption of utilities or other services essential for Closing, or (11) Hazard, Wind, Flood or Homeowners' Be insurance, to become unavailable prior to Closing, Closing will be extended a reasonable time up to 3 days 57 after restoration of utilities and other services essential to Closing, and availability of applicable Hazard,Wind, 58 Flood or Homeowners'Insurance. If restoration of such utilities or services and availability of Insurance has not 59• occurred within (if left blank, 14) days after Closing Date, then either party may terminate this eo Contract by delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby et releasing Buyer and Seller from all further obligations under this Contract 82 6. OCCUPANCY AND POSSESSION: Unless otherwise stated herein, Seller shall at Closing, have removed all e3 personal items and trash from the Property and shall deliver occupancy and possession, along with all keys, e4 garage door openers, access devices and codes, as applicable, to Buyer. If Property is intended to be rented or ss occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant ae to STANDARD D. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to Property from e7 date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have ee accepted Property In Its existing condition as of time of taking occupancy. s9• 7. ASSIGNABILITY: (CHECK ONE) Buyer ❑ may assign and thereby be released from any further liability 70• under this Contract; ❑ may assign but not be released from liability under this Contract; or( may not assign 71 this Contract. 72 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. 7e• ❑(b)This Contract is contingent upon Buyer obtaining a written loan commitment for a❑ conventional ❑FHA 77• ❑ VA loan on the following terms within if blank, then 30 days after Effective Date ("Loan 78, Commitment Date") for. (CHECK ONE): fixed, S] adjustable, [I fixed or adjustable rate loan in 79' the principal amount of$ or %of the Purchase Price, at an initial Interest rate so• not to exceed % (if blank, then prevailing rate based upon Buyer's creditworthiness), and for a et• term of years("Financing"). e2' Buyer will make mortgage loan application for the Financing within (if blank, then 6) days after e3 Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing 1 e4 ("Loan Commitment") and close this Contract. Buyer shall keep Seller and Broker fully Informed about 85 the status of mortgage loan application and Loan Commitment and authorizes Buyers mortgage broker and ea Buyer's lender to disclose such status and progress to Seller and Broker. 87 if Buyer does not receive Loan Commitment, then Buyer may terminate this Contract by delivering written Be notice to Seller, and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all e9 further obligations under this Contract. 90 If Buyer does not deliver written notice to Seller of receipt of Loan Commitment or Buyer's'written waiver of 9, this financing contingency, then after Loan Commitment Date Seller may terminate this Contract by 92 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. 94 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not 96 thereafter close, the Deposit shall be paid to Seller unless failure to close Is due to: (1) Seller's default; 9e (2) Property related conditions of the Loan Commitment have not been met(except when such conditions 97 are waived by other provisions of this Contract); (3)appraisal of the Property obtained by:Buyer's lender is 9e Insufficient to meet terms of the Loan Commitment; or(4) the loan is-not funded due to tjnancial failure of 99 Buyer's lender, in which event(s)the Deposit shall be returned to Buyer, thereby releasing:Buyer and Seller l 1 ! too from all further obligations under this Contract. J I toi• c Assumption of existing mortgace(see rider for terms). j -t-102•__ 0(d)Purchase money note and mortgage to Seller(see riders;addenda;or special clauses for terms). Buyer's Initials Page'2 of 10 Seller's initials FloddaRealtors/Flor r-ASIS.1 Rev.6/10®2010 Florida Realtors®and The Florida Bar. All dghts reserved fnrmsininlirifv ur CLOSING COSTS,FEES AND CHARGES 9. CLOSING COSTS;TITLE INSURANCE;SURVEY;HOME WARRANTY; SPECIAL ASSESSMENTS: ius (a)COSTS TO BE PAID BY SELLER: •Documentary stamp taxes and surtax on deed,if any •HOAi'ondominium Association estoppel fees Owner's Policy and Charges(if Paragraph 9(c)p)Is checked) •Recording and other fees needed to cure title •Title search charges(it Paragraph%c)(Ip)is checked) •Seller's attorneys'fees *Other, 106 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11 10, a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed at ,re Closing. if actual costs to meet the AS IS Maaitenance Requirement exceed escrowed amount, Seller shall ,os pay such actual costs.Any unused portion of escrowed amount shall be returned to Seller. no• (b)COSTS TO BE PAID BY BUYER: •Taxes and recording fees on notes and mortgages •Loan expenses • Recording fees for deed and financing statements •Appraisal fees •Owner's Policy and Charges(if Paragraph 9(c)(II).is checked) •Buyer's Inspections •Survey(and elevation certification,if required) •Buyer's attorneys'fees •Lender's title policy and endorsements *All property related insurance • HOAICondominium Association application/transfer fees •Other. _ (c)TITLE EVIDENCE AND INSURANCE: At least (if blank, then 5) days prior to Closing Date,. a title insurance commitment issued by a Florida licensed title insurer, with legible copies of Instruments listed as „a exceptions attached thereto ("Title Commitment") and, after Closing, an owner's policy of title insurance(see STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title ,q insurance covering the Real Property,a copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. The owner's title policy premium and charges for owner's policy endorsements, title search, and closing services (collectively, "Owner's Policy and Charges") shall be paid, as set forth below „g (CHECK ONE): ,re 1(i) Seller will designate Closing Agent and pay for Owner's Policy and Charges (but not including charges ,20 'for closing services related to Buyer's lender's policy and endorsements and loan closing, which amounts ,21 shall be paid by Buyer to Closing Agent or such-other provider(s)as Buyer may select);or ,22 ® (ii) Buyer will designate Closing Agent and pay for Owner's Policy and Charges and charges for closing 1 23 services related to Buyer's lender's policy,endorsements,and loan closing;or 17a ❑(Ili)(MiAMI-DADEIBROWARD REGIONAL. PROVISION): Seller will furnish a copy of a prior owner's policy 123 of title insurance or other evidence of title and pray fees for. (A)a continuation or update of such title evidence, 12e which is acceptable to Buyer's title insurance underwriter for reissue of coverage, (B) tax search; and 12-7 (C) municipal lien search. Buyer shall obtain and pay for post-Closing continuation and premium for Buyer's •as owner's policy, and if applicable., Buyer's lender's policy. Seller shall not be obligated to 'pay more than 2,• $ (if blank,$200.00)for abstract continuation or title search ordered or performed by Closing Agent. (d)SURVEY:At least 5 days prior to Closing, Buyer may, at Buyer's expense, have the Real Property surveyed ,32 and certified by a registered Florida surveyor("Survey'). If Seller has a survey covering the A" Property, a r3a copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. (e)HOME WARRANTY: At Closing, ❑ Buyer [ Seller Q NiA will pay for a home warranty plan Issued by „S• at a cost not to exceed$ A home :at warranty plan provides for repair or replacement of many of a home's mechanical systems and major built-in s, appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period. 136 (f) SPECIAL ASSESSMENTS: At Closing, Seller will pay. (1) the full amount of liens imposed b a public body 139 (`pubtic body"does not include a Condominium er Homeowner's Association)that are certified confirmed and ,aa ratified before Closing; and (it) the amount of the public body's most recent estimate or assessment for an 141 Improvement which is substantially complete as of Effective Date. but that has not resulted"in a lien being 142 imposed on the Property before Closing. Buyer will pay all other assessments. If special assessments may - saa be paid In Installments(CHECK ONE): +44• ❑ (a) Seiler shall pay Installments due prior to Closing and Buyer shall pay installments due after 141, Closing,Installments prepaid or due for the year of Closing shalt be prorated. 145• © (b) Seller shalt pay the assessments)In full prior to or at the time of Closing. tat iF NEITHER BOX 1$CHECKED,THEN OPTION(a)SHALL BE DEEMED SELECTED. roe This Paragraph 9(f) shall not apply to a special benefit tax lien imposed by a community development district Las (CDD)pursuant to Chapter 190 F.S.which lien shall be treated as an ad valorem tax and prorated pursuant to 1110 STANDARD K. Buyer's Initials Page'3 of 10 Seller's Initials FhufdaReaUom tor' ar•ASIS•f Rev 6li0 0 2010 Florida Rea-wr&A and The Fonda Bar im rights resery fnrni�i null iri tt+ 151 DISCLOSURES 152 10. DISCLOSURES: 153 (a)RADON GAS: Radon Is a naturally occurring radioactive gas that, when it Is accumulated in a building in 154 sufficient quantities, may present health risks to persons who are exposed to it over time, Levels of radon that 155 exceed federal and state guidelines have been found in buildings in Florida. Additional Information regarding Ise radon and radon testing may be obtained from your county health department. 157 (b)PERMITS DISCLOSURE: Except as may have been disclosed by Seiler to Buyer in a written disclosure, i58 Seller does not know of any improvements made to the Property which were made without required 159 permits or made pursuant to permits which have not been properly closed. iN (c)MOLD:Mold is naturally occurring and may cause health risks or damage to property, If Buyer Is concerned or ie1 desires additional information regarding mold, Buyer should contact an appropriate professional. tee (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" 166 or "Coastal High Hazard Area' and finished floor elevation Is below minimum flood elevation, Buyer may Y lee terminate this Contract by delivering written notice to Seller within 20 days after Effective Date, failing which 187 Bu yer accepts existing elevation of buildings and flood zone designation of Property. tee (a)ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 169 required by Section 553.996, F.S. 170 (f) LEAD-BASED PAINT: If Property Includes 'pre-1978 residential housing, a lead-based paint rider is 17I mandatory, 172 (g)HOMEOWNERS' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THiS 173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' 174 ASSOCIATION/COMMUNITY DISCLOSURE,IF APPLICABLE. 175 (h)PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT 178 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAKES THAT THE BUYER MAY BE OBLIGATED 177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY 178 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 170 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE 180 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 181 (1) TAX WITHHOLDING: If Seller is a"foreign person'as defined by the Foreign investment In Real Property Tax 182 Act("FIRPTA"), Buyer and Seller will comply with FIRPTA,which may require Seller to provide additional cash 183 at Closing. 104 U) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are iN not readily observable and which have not been disclosed to Buyer.Except as stated in the preceding sentence ee l or otherwise disclosed in writing: (1) Seller has received no written or verbal notice from any governmental ia7 entity or agency as to a currently uncorrected buuilding, environmental or safety code violation; and (2) Seller Is e extends and intends no warranty and makes no representation of any type, either express or implied,as to the i ies physical condition or history of the Property. 1so PROPERTY MAINTENANCE,CONDITION,INSPECTIONS AND EXAMINATIONS ' 191 11. PROPERTY MAINTENANCE: Except for ordinary',wear and tear and Casualty Loss, Seller shall maintain the 192 Property, Including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date 193 ("AS IS Maintenance Requirement"), ten 12. PROPERTY INSPECTION;RiGHT TO CANCEL: 1 1es• (a)PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 7 (if blank,' 15) days from lea Effective Date('Inspection Period") within which to have such Inspections of the Property performed 197 as Buyer shall desire during the inspection Period.If Buyer determines, in Buyer's sole idiscretion, that 198 the Property Is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice ise of such election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this 200 Contract, the Deposit paid shall be Immediately returned to Buyer, thereupon, Buyer and Seller shall 201 be released of all further obligations under',this Contract; however, Buyer shall be responsible for 202 prompt payment for such Inspections, for repair of damage to, and restoration of, the Property 203 resulting from such Inspections, and shall provide Seller with paid receipts for all work done on the 204 Property(the preceding provision shall survive termination of this Contract). Unless Buyer exercises 205 the right to terminate granted herein, Buyer accepts the physical condition of the Prt� arty and any i 206 violation of governmental, building,environmental,and safety codes,restrictions,or requirements, but i 2 7 ____ __su ct t4 Seller's c�ututlttq AS 15 Malateno"-Requlr�ement, and Buyer shall be responsible for any 208 and all repairs and improvements required by!Buyer's lender. . I i Buyer's Initials 4J7 Page 4 of 10 Seller's initials FioridaRealtors/Florl r-ASIS-1 Rev,8/10®2010 Florida Realtors®and The Florida Bar. All rights reserved. s formsimnlicity Efl,li i 209 (b)WALK-THROUGH INSPECTIONIRE-INSPECTION: On the day prior to Closing Date,or on Closing Date prior 210 to time of Closing, as specified by Buyer, Buyer or Buyer's representative may perform a walk-through (and 211 follow-up walk-through, if necessary) Inspection of the Property solely to confirm that all Items of Personal 212 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS 213 Maintenance Requirement and has met all other contractual obligations. 214 (c)SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS: If Buyer's 215 inspection of the Property identifies open or needed building permits, then Seller shall promptly deliver to 216 Buyer all plans, written documentation or other Information In Seller's possession, knowledge, or control 217 relating to improvements to the Property which are the subject of such open or needed Permits, and shall 216 promptly cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to 210 resolve such Permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary zzo authorizations, consents, or other documents necessary for Buyer to conduct inspections and have estimates 221 of such repairs or work prepared, but In fulfilling such obligation, Seller shall not be required to expend, or 222 become obligated to expend,any money. 223 (d)ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and 224 cost, Seiler will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties 225 to Buyer. 226 ESCROW AGENT AND BROKER 2v 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 230 of this Contract. Failure of funds to become COLLECTED shall not excuse Buyer's performance:When conflicting 231 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent 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 2" 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 party In such 23-1 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 timely resolve 240 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 in 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-delivery is 245 due to Agent's willful breach of this Contract or Agent's gross negligence. This Paragraph 13 shall survive Closing 246 or termination of this Contract. 247 14. PROFESSIONAL ADVICE;BROKER LIABILITY:: Broker advises Buyer and Seller to verify Property condition, 248 square footage, and all other facts and representations made pursuant to this Contract and to consult appropriate 249 professionals for legal, tax,environmental,and other specialized advice concerning matters affecting the Property 260 and the transaction contemplated by this Contract.i Broker represents to Buyer that Broker does jnot reside on the 251 Property and that all representations(oral, written 4r otherwise) by Broker are based on Seller representations or 252 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND 253 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, 3QUARE'FOOTAGE AND 254 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL, 266 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (Individually, the "Indemnifying Party') each i 256 Individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and i I 257 employees from all liability for loss or damage, including all costs and expenses, and reasonable attorney's fees 260 at all levels, suffered or incurred by Broker and Broker's officers, directors, agents and employees in connection 269 with or arising from claims,demands or causes of action Instituted by Buyer or Seller based,onj (1) Inaccuracy of 260 information provided by the Indemnifying Party or from public records; (11)Indemnifying Party's Misstatement(s)or 261 failure to perform contractual obligations; (Ili) Broker's performance, at Indemnifying Party's request, of any task 262 beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral, 263 recommendation or retention of any vendor for, or on behalf of, Indemnifying Party; (iv) products or services 264 provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any such 265 vendor. Buyer and Seller each assumes full responsibility for selecting and compensating their respective vendors ' ! ' and paying their other costs Under thls Contrad whether or nol thla transaction closes. This Par graph 14 will not � 2677 relieve ker f statutory obligations under Chapter476, F.S., as amended. For purposes of this Paragraph 14, Z'' Buyer's Initials Page5 of 10 Seller's Initials FloridaRealtors/Flo i SIS-1 Rev.6/10®2010 Florida Realtors®and The Florida Bar. AN ri hte reserved t fnrmsimnlir-ity i 8 z e Broker will be treated as a pa to this Contract. This Paragraph 14 shall survive Closing o termination party g p I g r ern nation of this 269 Contract. 270 DEFAULT AND DISPUTE RESOLUTION 271 16.DEFAULT: 272 (a)BUYER DEFAULT: if Buyer falls, neglects or refuses to perform Buyer's obligations under this Contract, 27s Including payment of the Deposit, within the time(s) specified, Seller may elect to recover and retain the 274 Deposit for the account of Seller as agreed upon liquidated damages, consideration for execution of this 275 Contract, and in full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further 276 obligations under this Contract, or Seller, at Seller's option, may, pursuant to Paragraph 16, proceed in equity 277 to enforce Seller's rights under this Contract. The portion of the Deposit, if any, paid to Listing Broker upon 278 default by Buyer, shall be split equally between Listing Broker and Cooperating Broker, provided however, 279 Cooperating Broker's share shall not be greater than the commission amount Listing Broker had agreed to pay 280 to Cooperating Broker. 281 (b)SELLER DEFAULT: If for any reason other than failure of Seiler to make Seller's title marketable after 282 reasonable diligent effort, Seller fails, neglects or refuses to perform Seller's obligations under this Contract, 283 Buyer may elect to receive return of Buyer's Deposit without thereby waiving any action for damages resulting 284 from Seller's breach, and, pursuant to Paragraph 16, may seek to recover such damages or seek specific 285 performance.This Paragraph 15 shall survive Closing or termination of this Contract. tea 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters In question between Buyer and 202 Seller arising out of, or relating to, this Contract or its breach, enforcement or interpretation ("Dispute") will be { Zee settled as follows: 289 (a)Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to 290 resolve such Dispute, falling which, Buyer and Seller shall submit such Dispute to mediation under 291 Paragraph 16(b). 202 (b)Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida i 293 Rules for Certified and Court-Appointed Mediators and Chapter 44, F.S.,as amended (the"Mediation Rules"). 294 The mediator must be certified or must have experience in the real estate industry. Injunctive relief may be 29e sought without first complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16 290 may be resolved by instituting action In the appropriate court having jurisdiction of the matter.This Paragraph 16 297 shall survive Closing or termination of this Contract. 290 17. ATTORNEY'S FEES;COSTS: The parties will split equally any mediation fee Incurred in any mediation permitted 299 by this Contract,and each party will pay their own costs,expenses and fees, Including attorney's fees, Incurred in 300 conducting the mediation. In any litigation permitted 'by this Contract, the prevailing party shall be entitled to 301 recover from the non-prevailing party costs and fees, including reasonable attorney's fees, incutired in conducting l 302 the litigation. This Paragraph 17 shall survive Closing or termination of this Contract. 303 STANDARDS FOR REAL ESTATE TRANSACTIONS("STANDARDS") 3o4 18. STANDARDS: 308 A. TITLE: 306 (i) TiTLE EVIDENCE; RESTRiCTIONS; EASEMENTS; LIMITATIONS: Within the time period provided in 30T Paragraph 8(c), the Title Commitment,with legible copies of Instruments listed as exceptions attached thereto, shall 3os be Issued and delivered to Buyer.The Tide Commitment shall set forth those matters to be discharged by Seller at or 309 before Closing and shall provide that, upon recording of the deed to Buyer, an owner's policy of title Insurance in the 310 amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property, 311 subject only to the following matters: (a) comprehensive land use plans, zoning, and other land use restrictions, 312 prohibitions and requirements Imposed by governmental authority; (b)restrictions and matters appearing on the Plat 313 or otherwise common to the subdivision; (c) outstanding oil, gas and mineral rights of record without right of entry; 314 (d) unplatted public utility easements of record(located contiguous to real property lines and not mode than 10 feet In 315 width as to rear or front lines and 7 112 feet in width as to side lines); (e) taxes for year of Closing and subsequent 31e years; and (f) assumed mortgages and purchase money mortgages, if any (if additional items, attach addendum); 317 provided, that none prevent use of the Property for:RESIDENTIAL PURPOSES. If there exists at Closing any 318 violation of Items identified In (b) -(f) above, then the same shall be deemed a title defect. Marketable We shall be 319 determined according to applicable Title Standards adopted by authority of The Florida Bar and Iniaccordance with 320 law. 321 (ii) TITLE EXAMINATION: Buyer shall have 5 days'after receipt of Title Commitment to examine it and notify 322 Seller in writing specifying defect(s), If any, that render tide unmarketable. If Seller provides Title Commitment and It 323 is delivered to Buyer less than 5 days prior to Closing Date, Buyer may extend Closing for up' to 5 days after 324 date of receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days ("Cure Period") �_3 s affer�ecelpf fB e s notice Fo take reasons a i�gent efforts fo remove defects. If Buyer falls to so notify Seller, 328 Buyer shall b ed to have accepted-title as It then is. If Seller cures defects within 'Cure Period, Seiler will Buyer's Initials Pege B of 10 Seller's Initial FloddaRealtors/Flor ar ASIS•1 Rev.6110®2010 Florida Realtor*and The Florida Bar_ All rights mery , iq�fnrmsimnlir;ity � i 327 STANDARDS FOR REAL ESTATE TRANSACTIONS(CONTINUED) 329 deliver written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties will 329 close this Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt of Seller's 33o notice). If Seller is unable to cure defects within Cure Period, then Buyer may, within 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 Se ees notice), Y y p N n Gce), or 335 (c) electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from 33a all further obligations under this Contract. If after reasonable diligent effort, Seller Is unable to timely cure defects, 337 and Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit, 338 thereby releasing Buyer and Seller from all further obligations under this Contract. 339 B. SURVEY: If Survey discloses encroachments on the Real Property or that Improvements located thereon 34o encroach on setback lines, easements, or lands of others; or violate any restrictions, covenants, or applicable 341 governmental regulations described in STANDARD A(1)(a), (b)or(d)above, Buyer shall deliver written notice of such 342 matters, together with a copy of Surrey, to Seller within 5 days after Buyer's receipt of Survey, but no later than 343 Closing. If Buyer timely delivers such notice and Survey to Seller, such matters identified in the notice and Survey 344 shall constitute a title defect, subject to cure obligations of STANDARD A above. If Seller has delivered a prior 345 survey, Seller shall, at Buyer's request, execute an affidavit of "no change" to the Real Property since the 346 preparation of such prior survey, to the extent the affirmations therein are true and correct. 347 C. INGRESS AND EGRESS: Seller represents that there is Ingress and egress to the Real Property and title to 348 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 350 estoppel letters from each tenant specifying nature and duration of tenant's occupancy, rental rates, advanced rent 361 and security deposits paid by tenant, and income and expense statements for preceding 12.months ("Lease 1 352 Information"). If Seller Is unable to obtain estoppel letters from to iant(s), the same information shall be furnished by 1 353 Seller to Buyer within that time period In the form of a Seller's affidavit, and Buyer may thereafter contact tenant(s) 354 to confirm such information. If terms of the lease(s)differ materially from Seller's representations, Buyer may deliver 365 written notice to Seller within 6 days after receipt of Lease Information, but no later than 6 days prior to Closing 35e Date, terminating this Contract and receive a refund'of the Deposit, thereby releasing Buyer and Seller from all 357 further obligations under this Contract. Seller shall, at Closing, deliver and assign all original leases to Buyer who 358 shall assume Seller's obligation thereunder. sae E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting; (1) to the absence of any financing no statement,claims of lien or potential Ilenors known to Seller,and(11)that there have been no Improvements or repairs 3e1 to the Real Property for 90 days Immediately preceding Closing Date. If the Real Property has been improved or i! 1 362 repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all general i 363 contractors, subcontractors, suppliers and materialmea In addition to Seller's lien affidavit setting forth names of all 364 such general contractors, subcontractors, suppliers and materialmen, further affirming that !all charges for 3e5 Improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been paid 3e6 or will be paid at Closing. 3w F. TIME: Calendar days shall be used In computing`time periods. Any time periods provided for, in this Contract 368 which shall end on a Saturday, Sunday, or a national legal holiday (see 5 U.S.C. 6103) shall extend to 6:00 p.m. mg (where the Property is located)of the next business day.Time is of the essence In this Contract. 37o G. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be 371 liable to each other for damages so long as performance or non-performance of the obligation Is delayed, caused or 372 prevented by Force Majeure. "Force Majeure" means; hurricanes, earthquakes, floods, fire, acts bf God, unusual i. I. 313 transportation delays, wars, Insurrections, acts of terrorism, and any other cause not reasonably within control of 374 Buyer or Seiler, and which, by exercise of reasonable diligent effort, the non-performing party is unable in whole or in 375 part to prevent or overcome. All time periods, Including Closing Date, will be extended for the period that the Force 37e Majeure prevents performance under this Contract, provided, however, If such Force Majeure continues to prevent 377 performance under this Contract more than 14 days beyond Closing Date, then either party may terminate this 378 Contract by delivering written notice to the other and the Deposit shall be refunded to Buyer, thereby releasing Buyer 37e and Seller from all further obligations under this Contract no H. CONVEYANCE: Seiler shall convey marketable Ititie to the Real Property by statutory wa ranty, trustee's, 1 381 personal representative's, or guardian's deed, as appropriate to the status of Seller,subject only to matters described 1 1382 in STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be transferred by 383 absolute bill of sale with warranty of title,subject only to such matters as may be provided for in this Contract. w4 I. CLOSING LOCATION:DOCUME TS'AND PROC,EDtLRE; w5 (1) LOCATIO : sing will take place In the county where the Real Property is located at the office of the 3es attorney or o sing agent ("Closing Agent") designated by the party paying for the owner's policy of title Buyers Initials Page 7 of 10 Seller's initial FloridaRealtora/Flodd r-ASIS-1 Rev.611 0 0 201 0 Florida Realtors and The Florida Bar. All rights resery 1fli rmsimnlirity i 387 STANDARDS FOR REAL ESTATE TRANSACTIONS(CONTINUED) See Insurance,or,if no title insurance,designated by Seller,Closing may be conducted by mail or electronic means. 389 (11) CLOSING DOCUMENTS: At Closing, Seller shall furnish and pay for, as applicable, deed, bill of sale, 390 certificate of title, construction lien affidavit, owner's possession affidavit, assignments of leases, and corrective 391 instruments. Seiler shall provide Buyer with paid receipts for all work done on the Property pursuant to this Contract. 392 Buyer shall fumish 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 (111) PROCEDURE: The deed shall be recorded upon COLLECTION of all closing funds. If the Title 395 Commitment provides insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the 39e escrow closing procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to 397 COLLECTION of all closing funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to 398 Seller, 399 J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide 400 for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following escrow 401 and closing procedures shall apply: (1)all Closing proceeds shall be held In escrow by the Closing Agent for a period 402 of not more than 10 days after Closing; (2) if Seller's title Is rendered unmarketable, through no fault of Buyer, Buyer 403 shall, within the 10 day period, notify Seiler In writing of the defect and Seller shall have 30 days from date of receipt 404 of such notification to cure the defect; (3) if Seller fails to timely cure the defect, the Deposit and all Closing funds 405 paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, simultaneously with 400 such repayment, Buyer shall return the Personal Property, vacate the Real Property and re-convey the Property to 407 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the 4os 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 411 the day prior to Closing Date, 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 shall be increased or decreased as may be required by f 415 prorations 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 based on current 417 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing 418 occurs on a date when current year's millage is not fixed but current year's assessment is available, taxes will be 419 prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then 420 taxes will be prorated on prior year's tax.If there are completed Improvements on the Real Property by January 1st of 421 year of Closing, which improvements were not In existence on January 1st of prior year, then taxes shall be prorated 422 based upon prior year's millage and at an equitable assessment to be agreed upon between the parties, falling which, 423 request shall be made to the County Property Appraiser for an informal assessment taking into account available ! N ! I 424 exemptions. A tax proration based on an estimate shall, at either party's request, be readjusted;upon receipt of 425 current year's tax bill.This STANDARD K shall survive Closing. 420 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK-THROUGH: Seller 427 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections, 428 Including a walk-through(or follow-up walk-through if necessary) prior to Closing. 429 M. RISK OF LOSS: If, after Effective Date, but.before Closing, Property is damaged by fire or other casualty 430 ("Casualty loss") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not 431 exceed 1.5% of Purchase Price, cost of restoration !shall be an obligation of Seller and Closing shall proceed 432 pursuant to terms of this Contract, If restoration Is not completed as of Closing, a sum equal to 120% of estimated i 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 pad such actual costs (but, not in excess of 1.5% of Purchase 435 Price). Any unused portion of escrowed amount shall;be returned to Seller. If cost of restoration exceeds 1.5% of 438 Purchase Price, Buyer shall elect to either take Property"as is" together with the 1.5%, or receive a refund of the 437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation 438 with respect to tree damage by casualty or other natural.occurrence shall be cost of pruning or removal. 439 N. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like-kind exchange (either simultaneous with 44o Closing or deferred) under Section 1031 of the IntemaiRevenue Code("Exchange"), the other party,shalt cooperate 441 In all reasonable respects to effectuate the Exchange, including execution of documents; provided, however, 442 cooperating party shall Incur no liability or expense related to the Exchange, and Closing shall not be contingent 1443 upon, nor extended or delayed by,such Exchange. i 444 0.CO�jgACT NOT RECORDABLE; PERSQNS 130UINIk-NOTICE; COPIES; Neither this Contract nor any 445 notice of it s all recorded In any public records.This Contract shall be binding on, and Inure to the benefit of, the 448 parties ands h r ctive heirs or successors in interest. Whenever the context permits, sin lar shall Include plural Buyer's initlals Page t3 of 10 Seller's Initial FloddaRealtors/Florl a r-ASIS-1 Rev.6/10®2010 Fiorlds Realtors®and The Florida tsar. All rights reserve ty rmsimnlinity 441 STANDARDS FOR REAL ESTATE TRANSACTIONS(CONTINUED) 44e and one gender shall Include all. Notice and delivery given by or to the attorney or broker(including such brokers real 449 estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in 450 writing and may be made by mail, personal delivery or electronic (Including "pdP) media. A legible facsimile or 451 electronic(including"pdf)copy of this Contract and any signatures hereon shad be considered for all purposes as an 452 original. 453 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement 4s4 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or 466 representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change 4se in this Contrail shall be valid or binding upon Buyer or Setter unless In writing and executed by the parties intended 457 to be bound by it. 458 0. 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 40o rights. 4e+ R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders, addenda, and typewritten 4e2 or handwritten provisions shall control all printed provisions of this Contract in conflict with them. 4n S. COLLECTION or COLLECTED:*COLLECTION"or-COLLECTED"means any checks tendered or received, 464 including Deposits,have become actually and finally collected and deposited In the account of Escrow Agent 4so or Closing AgenL Closing and disburawnent of funds and delivery of Closing documents may be delayed by 466 Closing Agent until such amounts have been COLLECTED In Closing Agent's accounts. 4o7 T. LOAN COMMITMENT: "Loan Commitment' means a statement by the lender setting forth the terms and 465e conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower. 489 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of 47c Florida and venue for resolution of all disputes,whether by mediation,arbitration or litigation,shall lie in the county in 471 which the Real Properly is located. 472 X. BUYER WAIVER OF CLAIMS: Buyer valves any claims against Seller and, to the extent permitted by 4r3 law, against any real estate licensee Involved in the negotiation of this Contract; for any defects or other 474 damage that may exist at Closing of this Contract and be subsequendy discovered by the Buyer or anyone 476 claiming by, through,under or agioinst the Buyer. <re ADDENDA AND ADDITIONAL TERMS 477 18. ADDENDA: The following additional terms are Included In the attached addenda and incorporated Into this Ore• Contract(Check if applicable): ❑A. Condominium Assn ❑L RESERVED ❑R. Rezoning ❑Y. Seder's Attorney ❑B. Homeowners'Assn. ❑S Lease Purchase/ Approval ❑C Seller Financing ❑M.Defective Drywall Lease Option ❑Z. Buyers Attorney u I ❑D. Mortgage Assumption [j N. Coastal Construd9n ❑T. Pre-Closing Approval ❑E. FHAIVA Financing Control Line Occupancy 0 AA Licenso'e-Personal F. Appraisal Contingency ❑O Insulation Disclosure ❑U. Post-Closing Interest in Property G. Short Sale R Pre-1978 Housing . Occupancy ❑BB. Binding Arbitration H. Homeowners'Insurance Statement(Lead ❑V. Sale of Buyer's Other MOLD I. FIRPTA Based Paint) Property ADDENDU J. Interest-Bearing AccL ❑Q.Housing for Older ❑W.Back-up Contract ❑K RESERVED Persons ❑X. Kick-out Clause i i 479- 20.ADDITIONAL TERMS: "� s n'�rr�* s L..1!j K.t �- -4v *VNC 480' *r1 G G' 1 0 1 S f 1 0 r10-pold Col., 481' Arovt 'Ac C ` eN qv- I 482' t1 0, V Ili !ikelp ru�•r 4ss• 4M. 485' 466. 4a7' 480' 489- i 490' 491- 492' 40. Buyer's Initials Page 9 of 10 Sellers tratlals FbddeRealtors/Flo r•ASIS-1 Rev.We 0 2010 Florida Reakors6 and The Florida Bar NI riytds reserved i frrmgimnlir'11v f , i 494 COUNTER-OFFER/REJECTION 1p 495• ❑ Seller counters Buyer's offer(to accept the counter-offer, Buyer must sign or initial the counter-offered terms and 49e deliver a copy of the acceptance to Seller). 497- ❑ Seller rejects Buyer's offer. 49a THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT,IF NOT FULLY UNDERSTOOD,SEEK THE ADVICE 492 OF AN ATTORNEY PRIOR TO SIGNING. Soo 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 terms 502 and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions 603 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested 504 persons. XFOLLONE sos AN ASTERISK( NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO sos BE COMPLETEDG -Z 3-1 Z 607- Buyer: Date; 6os• Buyer: Date: soe• Sell Date, 23 510• Seller. Date: s11 Buyer's address for purposes of notice Seller's address for purposes of notice 512• 513• 514• s15 BROKER: Listing and Cooperating Brokers, if any, named below(collectively,"Broker"), are the only Brokers entitled we 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 s1a agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has s19 retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation 620 made by Seller or Listing Broker to Cooperating Brokers. •� 621, GUILLERMO ROLDAN,PA s22 Cooperating Sales Associate,If any Listing Sales Associate 623• � ' AX (LC'M�iErL �5.� �(At-7 k-(A1-CU 624 Cooperating Broker,If any Listing Broker r -� i � Page 10 of 10 FloridaReallors/FioridaBor•ASIS-1 Rev.6/10 0 2010 Florida Realtors®and The Florida Bar. All rights reserved. ;;.,r( nrm.cimnlicity Comprehensive Rider to the ..V Residential Contract For Sale And Purchase °,1 `I Realtors THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR If initialed by all parties,the clauseseelowwlll be incorporated into the FI ida Realtors®/Florids Bar Residential Contract For Sale ADd Purchase between (SELLER) and I/ O concerning the Propsrtydescribed as (BUYER) t Buyer's Initials Seller's Initials P.LEAD-BASED PAINT DISCLOSURE Lead-Based Paint Warning Statement °Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 Is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, Including learning disabilities, reduced intelligence quotient,behavioral problems,and impaired memory.Lead poisoning also poses a particular risk to pregnant women. The seller of any Interest In residential real property Is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspection in the seller's possession and notify the buyer of any known lead-based paint hazards.A risk assessment or inspection for possible lead-based paint hazards Is recommended prior to purchase," Seller's Disclosure(INITIAL) (a) Presence of lead-based paint or lead-based paint hazards(CHECK ONE BELOW): (b) JKnown lead-based paint or lead-based paint hazards are present in the housing. Seller has no knowledge of lead-based paint or lead-based paint hazards in the housing. cords and reports available to the Seller(CHECK ONE BELOW): Seiler has provided the Buyer with all available records and reports pertaining to lead-based paint or lead-based paint hazards in the housing.]List documents: Seller has no reports or records pertaining to lead-based paint or lead-based paint hazards in the housing. Buyer's Acknowledgement(INITIAL) (a) Buyer has received copies of all information listed above. (d) Buyer has received the pamphlet Pmlect,YourFamlly from Lead In Your Home. (a) Buyer has(CHECK ONE BELOW): 1Received a 10-day opportunity(or other mutually agreed upon period)to conduct a;risk assessment i nspection for the presence of lead-based paint or lead-based paint hazards;or ❑Waived the opportunity to conduct a risk assessment or Inspection for the presence of lead-based a nt or lead-based paint hazards. Li nsee' Acknowledgement(INITIAL) (f) Licensee has Informed the Seller of the Seller's obligations u er 42 U.S.C. 4852(d),and is aware of Licensee's responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, f their knowledge, that the information they hay rovided Is true and accurate. 7 23 IZ SELLER Date BUYER IDate SELLER r Date BUY Date -23 -(2. � t1 la Selling Licensee Date Usting 1 ensee Date Ay_.personr pamomwho.knowingly-vperson the provisions of the tdentlal Lead-Based Paint Hazard Reduction Act of 1992 may be subject to civil and criminal.penaltles and potentipl triple magesln a private clvii.lawsuit. T ! I Page of Comprehensive Rider to the Residential Contract For Sale And Purchase CR-1 Rev.6/10 0 2010 Florida ReakorsO and The Florida Bar. All rights reserved. i idgirn,to Contract NMI". 111 The following provisions are made a part of the Contract for Sale and Purchase or Residential Sale and Purchase Contract between T>01 N 17�1,GL-4��__a CNA (Seller)and ��rJ �-� ,SC� Lt,L�1.a1• ��,,.tt (Buyer) concerning the Property located at 03 SkS L.lsl� &'. �,df►,�r� , �� 3��Df 1. Buyer, at Buyer's expense,may have a qualified professional conduct an inspection of the Property for mold within _days from the Effective Date("Mold Inspection Period"). 2. Buyer shall be responsible for prompt payment for such Inspections and repair of damage to and restoration of the Property resulting from such inspections,This provision shall survive termination of the Contract. 3. In the event the mold inspection reveals a significant presence of mold in the Property,which requires professionals to remove the mold,at a cost which exceeds$ , Buyer may cancel the Contract by delivering written notice of such election no later than 48 hours after expiration of the Mold Inspection Period. If Buyer timely cancels the Contract,the deposits paid shall be Immediately returned to Buyer and Buyer and Seller shall be released from further obligations under the Contract,except as provided in subparagraph 2 above, 4, If Buyer fails to conduct the inspection permitted In thls',Paragraph or having conducting such Inspections,falls to timely notify the Seller of Buyer's intent to cancel this Contract or if the mold inspection does not reveal significant presence of mold In the Property which requires professional remediation to remove the mold,at a cost which exceeds the sum specified In Paragraph 3 above, Buyers may not terminate this Contract pursuant to this Addendum. j Selle / �$ erikD►�l� Date: 23 /z I (signature) tPinU Seller: / Date: ( r IprinU Buyer: .So/rto rya Date: 014 —2 3 Z- e) (prinU Buyer: ! Date: ! i (signature) (print) I MIAC-1 Rev.10/02 0 2002 Florida Association or Reat.rorts 4) All Rights Reserved r fnrm.cimnlinity 1 Comprehensive Rider to the . • . Residential Contract For Sale And Purchase , ��()I idaRealtors° THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR If initialed by all parties,the clauses below will be incorporated into ft Florida Realtors®/Flodda Bar Residential Contract For Sale And Purchase between and < (SELLER) concerning he Prop rty described as (BUYER) Buyers Initials Sellers Initials I.FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT("FIRPTA") If a Seller is a"foreign person"as defined by FIRPTA,Section 1445 of the Internal Revenue Code requires a buyer of real property to withhold 10%of the amount realized by the Seller on the transfer and remit the withheld amount to the Internal Revenue Service (IRS) unless an exemption applies. The primary exemptions are (1) Seller provides Buyer with an affidavit that Seller is not a"foreign person", (2)Seller provides Buyer with a Withholding Certificate providing for reduced or eliminated withholding, or (3) the gross sales price is $300,000 or less, Buyer is an Individual who purchases the Property to use as a residence, and Buyer or a member of Buyer's family has definite plans to reside at the Property for at least 50%of the number of days the Property Is in use during each of the first two 12 month periods after transfer. Buyer and Seller agree to execute and deliver as directed any Instrument, affidavit, or statement reasonably necessary to comply with the requirements of FIRPTA, including delivery of their respective federal taxpayer Identification numbers ("TIN")or Social Security Numbers to the Closing Agent, If Seller applies for a withholding certificate but the application is still pending as of the Closing, Buyer agrees to place the 10% tax In escrow at Seller's expense to be disbursed In accordance with the final determination of the IRS, provided Seller so requests and gives Buyer notice of the pending application in accordance with Section 1445 and Implementing regulations. In the event Buyer does;not pay sufficient COLLECTED funds at Closing to meet the withholding requirement, Seller shall deliver to Buyer at Closing the additional COLLECTED funds necessary to satisfy the requirement. Buyer shall timely disburse the funds to th4 IRS, and provide Seller with copies of the tax forms and receipts. i i i i � ( 1 i Page of Comprehensive Rider to the Residential Contract For Sale And Purchase CR-1 Rev.6/10 0 2010 Florida Reallors®and The Florida Bar. All rights reserved. A226 i p W z pANU''FL a {q1 7 �gr7.p' kof Ame��ca�� Bad�a„ooa►�' i J