HomeMy WebLinkAbout0036 STAND..~tDS FOR REAL ESTATE TRANS...:TiONS
:L ~Vll)ENCE OF TfTLE: ~1? A run?pl~tr ab~trrrt uf titlr prcparrd l~y a rcputablc abstract inu purp~xting to lx an aciur.~tr
n~~p~is oi thr inst~umcat~ alfrcti~ik thr titlr tu t6at r~al pru{xrty rrcurdrd in public rccards of that cuunty to tler dat~ this
.~~n~~ait. +I~uwin~ in t!?c ull« m.~rlrtabl~ titl~ in arcurd.~ncr with titl~ stan~lards adoptcd from timr to timr bti• thc Flurida llrr.
.ut~jeu only cu lirns, encumb~ancrs, cxcrptiuns « yualificatio~u xt forth in this contract anJ those which shal) be discha~Kcd by sclk~
.~t ur bcforc ciosing, (2) a title guarantrr coinmiunrnt iuucd by a qu~lifird tide insuro~ agrccing to issue tu thc buyer, upon thr.
cr~u~ding of thc~ccd hrrcaitc: mentioned, an owner guauntee in the amuunt of the purchasc p~ice insuting the titlc of thc buycr ta
ehat real p~oprrty, subjrct only tu liens, e~cumbranc~s, exceptions or q~aiifications set forth in this cont~act and those which shall be
~IucharKrd b~ scller at or l?ef~xc closing.
Itu~•cr ~hrll have tlur!}• i;~~) ~~a)'s il abstrrrt, or livc (Sl d.~ys if tittc }~u~rantce, ~rom thc Jatc of rcceiving thc cvidencc o~ tetle to
~•..~minr ~amr. li t~tlr ia tound t.? Fx drtrcti~•r, thr buyrr shall, within srid ~xriud nutif~• th: scllrr in writing s~xcifyin~; thc dc~ccts. It
r:aid dricet. rrnd~r thr titlr unma~krtablr. thc scllrr shafl leavr nmcty !~)O) d~ys from thc rrrript ~#~such noticc to~u~c thr d~irr~t.
.,n,l il ~fa•r .rid pcri~x~ scllr~ s6a11 nut havr cutrd thr dcfcrts, buycr Shall havc tl~c c.ptiun: (I) accc~sting titl~ it thcn is. ~x ~21
,i. mar.lin r• a rrfund of all munics paid hrrcundrr which shall furthwith F+r returncJ t~i thc buycr, and thrrcu~we thc buycr aod xllc:-
.!~.~II br rri: a.rd ul ~II lurthrr obliKatiuns umlcr this contract.
B. ~FYISTING MORTCACES:+Thc srllrr shall Eurnish estoppel Irttrrs (not ~ecrss:+rily in af(idavit forn~) xttinp, furth the princiE~rl
t~.~l~ncr, mrthc?~~ OI F1:IVILI OI. .if1U Wl~~thrr thc mortga~;r is in ~;ucxl a(Jf1l~tO~. I} 1IICfl IS CllAfxf for thc changr o(ow•ttcrship rccords. by
~I~r u~ortKr?~rr, it sh~ll lx lw~nr by thr bu~•rr. SrUrr shrll rcrrivc rc crcdit rt rlusing, an amount eyual to thr escrc~w ~unds hcld by thc
~u..~rt~,~krc. 11 tl~r rsistinK m~,rt~;agr ~r~~uirrs thr buycr to ~~stunr samr, thcn thr buyrr shrl! do so: pn~vidcd. huwev;:r, if thc mortgagcc
,I,~r. nut acccpt thc buyrr. thcn in thrt cvcnt ~xcurring, thc baycr at his ~~ptinn, ~nay canccl thc cuntnct and all monics paid b~• th~
i,~~~~•~ ~h~U b~ •ciund~d co chr b~y«.
PURCHASE ~~ONEY 1110RTGArES: Any purrhasc moncy notrs ~nd mortga~cs requirrd by thc contnct shall Eoilc~w chc fornu
~C11~(JII~' Jl'll`~)[l`(I :.r,d usrd in thc county whr~c thc la^d is locatcd. Any purchasc monry mortgrgc shall pra+ide for insurancc against
i~~>. b~• firc with . xtrndcd covrragc i~i rn ~~izount i?ot Icss thrn thc ~UII II1SUf:1bIC VdIUt' of the impruvc~ncnts. In a first mortgagc, thc notc
.~nd mortgage .hsll psuvidr Fcx rcceler.~tion, at the aption of thc holJer, a(ter thirty {30j days default and in a second mortgage, after
t:rtrrn (15> days dr(ault. A KCOII(I OIOfI~.i~t shall rryuire a m~~rtgrgor to keep all priur liens and encumbrances in good standing. Nuyer
.i,.~ll ha~c chc ri4ht tu prrpa}• p~<< ~hr principal rt any ti~ne or timcs with interest to datc of payinent without penalt}~.
1). OTHER ~IORTGACES: In thr rvcnt buyrr r~rrutcs mortg~gc ta onc othrr than thc scllcr, all costs and chargcs inciJcr.tr!
rrtu >hall br p~~d h~' thc buycr. -
L. SURVEY: If thr buyer Jtsires a sur~ry he shill havc
the propcrty seirveyed ~t his cxpcnsc prior to elosing date. If the survr~•
•`~..v?~c an cncru~chmcnt, chc samr .hall bc trcatcd as a titlc drfect.
F TER:NITE INSPECTION: Prior to closing, at buyer's eapense, the buyer sh~ll have the right to have the property inspected by
liccnsrd and bonJ~d r~tcrsninator to determinc whether thcrc is any active tcrmitc infestation or damage from prior termitc
;r,t.•station in the improveo~c~ts on said property. If there is any such infestation or damage, the selle: shall pay all costs of th~
tsr~tment rrqui~ed to rrmed~• any such in(rstation or damage su cepu•ted, including thr costs of'repairing or replacing all portions of
..~i,! im~ro~•rments which rre infest~d or have lxen .iamagrd Howe,:er, in the event thc tosts to be incurred are more than three (3i6;
~~.r~ent of the pur:hax prire, thrn, at the scller's option he may~ cancrl the contract within ten (10) days of thr receipt of the termite
in.pection report b~ giving wTitten notice to thc buyer_
i;_ _ INSURANCE: If insetrance is to be prorated, the seller shall un or before the closing date, furnish to buyer all insurance policies o:
~,~pies chcrcuf_
t~. LE:ISES: Th~ xilre shal! furnis~~ cupies of a:i w~ittru I~esea w tL~ uuyrt N~iu~ ~u ~~wiug and iC tncrc arc any persons inp~ ssession
~~ithout w-ritttn le~ses, rsu~ppel lettrrs from such persons specifying the nawre ~nd.dur~tion of the occupanty shall be furnished to the • ~
bu~r~ b~~ che seller prior to the closing.~tc. '
1. MLCHANIC$ LIENS: Seller shall furnish to the buyer an affida~~t that therc havc becn no improvements to the subject property
t~>r 90 days immedi~tely preceding the ~te of closing. If the subject property has been improved within 90 days immediately preceding
*.i:~ cl~sir~g date, the seller shall deli~er releases or waiver of all mechanics lieas ececuted by genenl contractors, subcontractors,
~uppl~crs or matcrial mcn and scllcr's mechanics licn affidavit_
J PLACE OF CLQSIMG_ Closing sh~ll be held at thc office of the seller's attorne~• or as otherwise agrecd upon.
K. TINE IS OF THE ESSENCE= Time is of the esunce of the Contract for Sale and Purchrse. -
L DOCU~tENTS FOR CLOSING- Srllcr's attorncy. or ~ther closing agent shall prepare dced, note, mortgage, seller's aftidavit,
~~~:in~ statement and submit copies of same to bu?•er's atturney, and copy of closing stacement to the broker, at Ieast two days priot to
i~rduled dosing datc_
\t. EXPENSFS: State surtrx ~and documentar}• stamps which are required to be afCL<ed to the instrument of conveyance, intangible
r.unal property taxes and the cost of recording the purchase rnoney~ m~rtg~ge shall be paid by the seller. Documentary stamps to be
.~fi~~ed to the note or notrs secured bp the purch~se money mortgdgc ~nd the cost of recurding the deed shall be Paid by the buyer_
PRORATION OF TAXES (REAL AND PERSONALI= Taxes sh~ll be prorated based upon thc current ycar's tax without regard
d~xount. I! thc clusing takcs Plrcc and the current ye~i's tax.^s arc nut fiacd, and the cur.cnt ycar's asscs:ment is available, taxes will
F~~ prouce~ based upon such asscsstnent ~nd the prior year's ~nillage. IE the current year's ~ssessment is not available. then taxes will be
::;,rrted on cir~¢or }•ear's tax, pro~ided, however, if there is completed improvement of the subject pre~nises by Januuy 1 ~f the yrar
~t ~lusin~, then the tazcs shall be pror~ted to the date of closing based uEson the prior ycar's millage and an equitable asscssmcnt to bc
,~r~ cd upon between tne Parties, taking i~to consideration Homestead Exemption, if any.
SPECIAL ASSESSNENT LIENS: Certified, confirmed or ratified special assessment liens as of the date of closing (and not as of
~Irte vf the contract; drr to be paid. by the seller_ Pending liens as of the date of closing shal) be assumed 6y the buyer, pro~~ded. -
':•>.,e~~cr. thn where the impro~•ement has bern substantially cumpleted as of tFe date of the contract, such pending licns shall br
.,n~~drred irrtified, cunfirmed or ntified and the seller shal~, at closing, be charged an amount eyuai to the last estimate uy the -
:~-.:bir body of thc •~scssment for thc irnprcncmcnt. -
P PERSO!~AL PROPERTY: Th~ k~ilcr reprrscnc~ and w•arrrnt~ th~t ~II major ~pplianccs and machincr}' includrd in thc salc shell bc
Loud workir~ ~~rder and repiir as of thc d~te of closing. All prr»nal property ~hall be transfered by Bil) of Sale with Warranty of
a T'~~~~
Q. RISK Of LOSS: If thc improve~nrnt~ rre damaged by firc or cas~alt}' befure delivcr}• of thr dccd ~nd can br restored to
~:h~tantir~ly ~h~ srmc conditiun as now within a pcrod ~~f 60 days thcreaftcr, scllcr shell so restorc thc improvcmcnts and thc closing
.1.,T~~ ~nd datc of driivcry of ~sessiosi hcrcinbeforc providca shal) bc extcnded ac:ordingly. If seller iails ro do w, the buyer shall havc
untiun of 1, trking the propcrt~~ ~s is. tuKether w•ith insur~ncr proceeds, iE ~ny, or (2) cancelling the contract, and a;l dcpusits are
~ •.~e 'crthwith rceun:eJ to thr buycr ar.d al! puties stial) be rrleaxd of any and all ubligation and lia~ilit~. -
R. _,afNTE1~ANCC: Brtween t6r d~te of the co~t:~ct and the date of closing, the pro~erty, including lawn, shrubbery and pool, ii
~ ~nc . sh.,l) hc ma:nt.~nrd b}' thc •rRcr in thc coriditlon as it cYistcd as of thc Jatc af thc contract, ordi~ary wcrr and trar eaccptc~.
S BROKER'S COMMISSIOPi: The Bruker's cominission shall be di~bursed at tl.e time uf the disburseinrnt of the proceeds.
T. .~TTOR1\EY FEES ANU COSTS: In cun~iection with eny litig~tiun arisis~g out of the cuntract, the prcvailinK p.?tey shall b.
. nntlcd 'o recuvcr ~II cr~its incurrcd, includinK rcawn~bic attorncys tecs
l,'. COIYIRACT NOT RECORDABLE. Th~s c~~~nr.cc shall iiot Ix rccorclcd in thc of~i~c of thc Clcrk of any Circuit (:uurt of thc Stitc
,t Flor~dr.
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