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. CONDITIONS OF PURCHASE
PLEASE REAO CAREFULLY ~
i. BA11C /?(~RtfAttNT 7 YOUR R1GHT Ir ~~1 1•,111 In htRFGR!?f
V~'e t(iene~at perelap~t COrp~ontl~o) sera ~o sell to :yoit z-- •hN ~~W lo mat ap)• oi on~ ,~hlip~pont under tha aarccment, ~
(tAe purchase. ~x parcMsers namtd on Me facepa ~e1 ~he resideatid ~ Y'a!• ~~her ot t1t follr.~iq^ nuclu~ive «mcJ~rs. at yo~u ~
proper~y ~e,cr~bed in tlds purdwx a~rremea~. This apttaMnl ~1~s oPUa~: - - '
~ stata ~he price ~nd describes lhe whet t~tms ef ~his purot~are. Yar la1 You maY each,n6e tbis popertr far o~her property o(
a=rce bu~ thu pc~pvly- (rom us sad to make SIa~uJ MoMIdY ~p~qr valre ie this or any o~he~ of our communitia a~d m•
Pa ~menis ~n ~hc u+oua ~Aown oa ibc tace d tb~ aaroe~nau on K. omilarl~r desitaWe locstio'h. oY '
~ be~orc the ~cnth Jay of eaCh au~ptb. Ttw unptid bal~u~ce ~t a4y tis~e ~h~ W/e wilt teAind all paymenu made by you undu ~his aaree-
~ uill bcar interat at the ~ate ot 7~ per year. ment. • ~
~ 2. P^vlNG UF YO~R STREET If you elect either o[ tbae rcmediu, both you and we will be ;
~ This pro~,erty is p~exnUr ~nimproved. We agrce to complete released trom any tutther obligations under this agreemea~ aad ~
the pavina of streets adjacenr to~your property. in accordance wuh thete an no other privik~es oT.oaqCqWior?,.a »fund eacoepl as
tfie plat filed in the publit raords of the county m wliich yeur sta~ed ~bove. .
p~ope~ty is located. befcxe the end.ot the yeu in which your Standard i
Payment ('umpletiun nate occurs. • 8.~ NO PERSONAL LIABILITY ON DEtAULI ;
3. YUUR VIiARRANTY DEE~ You have no Exrsona) IiabiNtx ~o m~kt any payment undrr this
(a) We will detiver to qpenie a prOpuly extcuted ~8~ment. However, it rou ft?it to ~nate any payment, you will be
Y'~ in default and wr may termisate this a6rtement.
Wirranty Dec~ if you have fully paid for this property by making Be[ort a~y such termmation becomes effectwc, you will have a
all of your Stxr.Jard Monthly Payments w~thout prepayment. grace perioa within ahich to bring yput account to a current staws.
Ib) Thc Warranry Deed will convey good marlcet~bk and insur- ~1?is grace period shall be (or the period ot 60 days it 1096 or las
abk titlt to you, free and drar of all encumbrances exoept tor the o! the princ~pal amoum of Me purchue price hu f+een paid. 90
following: (1) tht lien tor ta~ca for the year in ~rhich we conv~eY ~h~. days if more than 1096 and kss than 254'~ ot thc principal amouet
property; (2 ) Qi1. gas and' mineral reservations of record, if any; of the purchase price has been paid. 120 days if morc than 25% but
13 ) zaning and regulatorv .otdinanoes. , reslriCtiaLS end .eeSetneAts kss ibsn 51196 of the pcinci~al amount ot ti~e purchase price 1~as been
comnionly found m Florcda communities of high standards; (4) paid, and ISO days if SU!YP or morc of the principal amount of the ~
rcslrictions and lemitations affatiog the use of Ihe property which purchase pria has been pa~d; _ '
are com~qon to.the subdivision ~ad -whieb now or hercafter may If ~rou bring•yair ~ccount to acurrent staws by payina all
become of puMic record; and (S)~easements tor drainage, canal dur pnneipal and mterest within the appGpble gace period. y~ou
maint:nance an~l public utilities. will no langer be considercd in detault. It you do not brin6 your
~c ) After this Warranty Deed is recorded. we will at our account to a current status within the applicable grace period, we
expense ha~~~ issued to you a standard owner's title policy from a may te[minatt this a~ceealeM+~thOUl ivQlhes IwtioO.
member firm :~f the Amencan Land Title Association: If rve terminate~ihis agree~neMt, w+t wili retaie all~ rnorifes you
1d) U~r and posse~sion Qf this property will tx retained until have paid under this agrcement. including principal ancl interest. u
you havE p3id us the purCbase pri~e in full atKi unU! wc have deliv- •liquida(ed damaga bec~uu we have t~keh this property 0~ ~e rca)
ered the Warranty pted. estate market: we hare lurned away aheP prospecUve purchasers and ;
4. YOUR RIGHT TO PREPAY we have incurred or will be incurnng development and other ex- ;
You. have the ri t tv, prepa ~ the outzlandin balance under ~nxs in cunncction with this property. Upon termination, any and }
Ph Y 8 sll nahts ~rou may hav~ had in this property shall ~mmediately ter-
this agreemen: i~ whole or in part at an~ time without penalty. For _ minate and we may retu~n this prcperty to our inventory and resell
purposes uf t`~is pa:agraph additiunal Uuwn Payment, if any las it free and clear of any claims. liens or encumbTar.~es ansing out of
shown in paragraph 4 on the face of this agreement). shall Ix consid- this agreement. .
ere~ a panial prcpa~•ment_ ~repayment d~xs not. however, accettrate "
our obtigation ~a) to Jeliver the WaTramy Deed and title ir.st~rance 9. TERMINA770N `
policy to you tufore the Standard Payment Completion Date or (b) If this agreement is terminated, our recordcd affxiavi~ attesting ~
to complete ~h.: p::vin¢ of tbe sueecs a~jacsrK W~ ptopfr_ty Qefore:. to:~1ou~ default ord..the termin~tip~; -shalt be+tonclusiMe proof of
the end of thc year m which Standard Payment Comptetion Date ` yuch default and termination for all purposes. and you irrevcscably
occurs. Howe~er, if you do prepay, we will thercupon issue you a , suthOriu us to thus a4test and record such aFfidavit as thouRh it were
certificate of payment in full. your own act and doed. -
5. WE PAY TAXES 10. EF~ECTIVE DATE •
We w•ill pay all real property taaes un this properiy white this
agreement is in force ur unul you record this agreement or until we This agfiement is effectiv~ and binding oa us when yun have
delivtr you a ~Varranty Deed comeying titk to the praperty to you. '~8~ ~t and when we hatY signed it at our Home Office. We may
whichever first occurs. acce~+t oz reject this agreement without explanation. and if we .
6. YOUR TRANSFER PRIVIL£GE «l~ i~- we wiU return the depaut to you and both partics shall l+e ,
1f ya~r payments aro currcnt, we guarantee you the privikge ta ~eleased from any obligation hereun.ier. ;
transfer y~wr equity lthe portion of you~ payments on this property ~ ~ -~~~CNMENT OF THIS AGREEMEM
applieJ towards principatl at any time betore you have paid your You•may as;ign this agreement with our w~it(en consent upon
outs~^nding balance in fu{I. This transfer m8y be toward e~tber: • ~ payment of a transfer fte. •
( a) The purchase of available property of equal .or higher
i price in ihis er any otFier of our Florida communit~ea, if you 12_ NOTIC~S
E transfer a ithin three years of the date of this agreement; or
Ib) 7hc purchax ot a s~andard home built by us in an avail- Notices under this agrament must be in writing and addressed to ~
~ able hou~ing arca_ . the la5t known address of the respective party. ~zcept as to tht void-
~ If yoa hu.e eyuities in morc than one lot. you may trsnsfet ~ ance and revocation rig6t as prpvide¢ in parag~~.ph (d) under "Ae-
I lhem only to a like number of other lots or homa. ~ ~~o~.
t
~ ACKT~O~VI.EDGMENT Accepted at Miami, Florida lry .
The undersigned Purthaser(s) certifits Wal: GENE Y OP T CO RAT10N
(a) 1 am of tegal age. ~ '
(b) I hav~ read this Agreement and no additional representatioas (
have ban m::de to induce me to purchase the proputy dexribod. BY~
(c) 1 have recriva! and have had an opportuniry to acanline ~~o si,e
1he Supplement to tl~ia aercement contaiering a statanent and finan- _
cial irform~tion required by Eederal law regardina mY riabt to eanul ~??itn~• K~ ~Q
this traru~ction w~thm three (3) businas days •
IJ) 1 UhDERSTAND 1 HAVE THE OPTION TO RSVOKE •
?HiS Ct~i~'"CkF.C'f IF I HAVE NOT RECEIVED A PROPERTY H/~tnas:
REPURT FdEPAItED PURSUANTTO'THE RULES AND REG- -
ULATlONS OF 'fHE U.S. DEPARTMENT OF HOUSINO AND ~
URBAN DEV EI.OPbiENT. IN ADYANCE OF. OR AT THE STATE OF FLORIDA
TIME OF SIGNING THIS CONTRACT: I UNDERSTAND I SS: ~
~ NAVS THL FURTHER RIGHT TO REVOKE THIS CONTRACT COUNTY OF DADE .
WITHIN 48 NOUitS AFTER 1 HAVE SIGNED 1T IF I DID NOT
RECFIYE SAtD PROPERTY REPORT AT LEAST 48 HOURS ~ HEREBY CERTIFY lhat on thi~ day. txfore me. ~ Notary
BEFORE S1Gtilt`G THE CONTRACT. I HEREBY ACKNOWL public authorized to take acknowledgments, persunally aQpeared •
EDGE ANC) AF. ~RM BY MY SIGNATURE HEREON THAT I ~
RECi:tVEC~ Sti'~H PP.OPERTY itEPORT (WHICk( IS ALSO THE the person indicated as Authoriud Empbya abore. whom 1 know r
~ REPORT ItEC?tiiRED UNDER 'rLORIDA LAW). TOGE'CHER to be the Agent ot General Devdopment Corporation in ihe forc-
WTTH ANY YKOPERTY REPORT OR OTH ROP~IATB So~ng Purchase Agrcement, and acknowledged before me. that he
eaecutod seuh oontnct in the name of and on tehalf of General
~ DOCU6iEN i' REQUIRED SYTHF LAW OF ' Dcrelopment Corporation; that as weh Ageni he is duly nuthorized ;
IN ADVARtCE OF SIGNING THIS COTiTRACT AND 1 HAVE by Genera) pevelo*ment Corpo~ation to do so, and lhat ~ch Pur-
REAO ~AND UNDERSTAND SUCH RfiPORTIS). . • chase Agreeaunt is the act and doed of General Development Cor- c
~ (c? 1._gr to purchase the described property in accordance poratioa ~
~ with the tc ros f th~s agreement, the nt and any dWy
~ exuuted Ri er ereto. WiTNESSmy h~nd urp , ~ I~'ounty and State named above.
~ SEAL
Pure 's i wre .~Y-',~.
~ as th ~ "
SEAL , • " • t,
Purchavr': sp[n~tare ^ '
w1 ArM - ' -
~ ~ ~ved t Initial Payment and witnessed the above ~ ~ _
<s" s~=
7~~po ~ This insirumcsst'' ' ~ + ;
~ rw~oo~ Dav `
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~ ~A~~ :eneral Ik+ek.preeat (:urp~r tM~a Satd RtYresenLti~~ ~ ` ~ O ~
~ ~ , . . .
~ CM CASH p HECK ~ Miami. F ~ 4~
« NO?ARY /UM M ltTATE OF 1~'I.ORtOA T~
~ ~'1 ~ ~ ' ~ ~ COM~Mltl~1AN E7MIRE~ FEa.
N ~ ~ t . FE!
t~ ~ 1~ OENi,IIAt IM~t1M~~!'s111Mff~ RS. II+iC.
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