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Home My WebLink About1119 C.•.~.•.(•t • HIGHLIGHT OF THIS AGHEEMEI~T3 S I S S S (The'se' highlights are subject to all provisions of the Conditions of Purchase appea?ing below and on the front of thc• Agreement.) • You have the privilege of transferring your equity in this property to a home or other avail- ableproperty ofequal orhigher value in one of our Florida communities. (See Item 6 below.) We do not repurchase property after expiration of the cancellation periods provided by law or refund any portion of payments except as provided in Item 7 below. • Without extra charge to you: • • We will pay all real estate taxes on your property for the first three years. (See Item S belowa _ • We will pave your street not later than the end of the Homesite Development Year. (See Item 2 below.) • We will issue you a Warranty Deed and title insurance policy. (See Item 3 below.) CONDITIONS OF PURCHASE PI.l=ASE READ CAREFULLY 1. BASIC AGREEMENT YOUR RIGHTS IF ~YF. FAILTO PERFORM We IGerwral lhvelopment Corporation) agree to sell to you (the If we fail to meet anv of our obligations under this Agreement, you purchaser or purchasers named on the fade page) the residential prop- may elect either of the following exclusive remcctit:~ at your o lion: ert}• descritxd in this purchase agreement. This agreement also states la) You-may exchange this property for other property of similar the price and describes the other terms of this purchase. You agree to ~ value in this or any other of our communities and in a similarly buy this property from us and to make Standard 1lionthly Payments desirable location, or Ill the amount shown on the face of this agreement on or before the (b) l~'e will refund all payments made by you under this Agreement. tenth day of each month. The unpaid balance at any time will bear If yon elect either of these remedies, we will be released from any iut-.'rest at the rate specifictl on the front of the Agreement (ANNUAL further obligations under ibis Agreement.'fhere are no other privileges Ph:HCENTAGF`. ItATE?. 4t cancellation or refund except as stated above. PAVING OF YOUR STREET 8. NO PERSONAL LIABI LITY ON DEFAUI T 'Phis property is currently undeveloped. We agree to complete the Yofl Gave no Ixrsonal liability to make any payment under this paving of streets adjacent to your property, in accordance with the Agreement. However, if you fail to make any payment, you will be in t !at filed in the public records of the county in which your property is default and we may teririnate this agr~rment. located, txfore the end of the Homesite Development Year. f3efore any such termination becomes effective, you will have a grace period K•ithin which to bring }'our account to a curent status. 3. YOUR WARRANTY DEED This grace period xttall ire for the period of Jays if 1(Ni or IeSS of the principal amount of the purchase price has iKx•n paid, 90 days if more ta) We will deliver to you at our expense a properly executed LYar- than l0 and lc:~ than 'LSS of the principal amount of the purchase rutty Deed if you pace fully paid for this property by making all of price has been paid, l:N? days if mom than 2:r ~ but Ica ttL•rn :aM: of the ~ „ur titandard Monthly Payments without pn•}ta}•ment. principal amount of the purchase price has txen Ikrid, and L•-r0 days if 1 bl The Warranty Deed will convey good markellble and insurable ;rtY., or more of ttte princil>,•tl amount of the purchase: price has ixY•n paid. tii Ic• to you, free and clear of all encumbrance. exmpt for the followings If you bring your accowri to a currant staUts b}• paying :JI pasl due 'i 11) the lien for taxes for the year in which we convey the property' prirtcipal and interest within the applicable grass t,<•rial, you will no 1 ~ oil, gas and mineral reservations of nrortl, if any; (3) zoning and longer Ixe considered in default. It you do nut bring your account to a n .;ulatory ordinance-s, restrictions and casements commonly found in current stAtlLS w7ttun the applicable mace period, we may terminate ~ E i ,rids communities of high standards- (d) restrictions and limitations tftis Agreement without further notice. :;lii•~•ting the use: of the property which are common to the subdivision j a:,d which now or hereafter may hecomeof public record; and (5) rase- 9. TERMINATION ! tn~ rats for drainage, canal maintenance and public utilities if we terminate this Agreement, we will retain all monies you have ~ Ic) After this Waranty Ikcd is reeorled, we will at our ezpens~ paid under thisAgteement, including principal and intrust, as liyui- have istiued to you a standard owner s title policy from a member firm dated damages because we have taken this property off the real estate g of the American Land Title Association. market, w•e have turned away other prospective purchasenand wr have I Id) Use and Itostssion of this property will be retained by us until incurred or will be incurring se•Iling, administrative and development r„u have paid us the purchase price in fuU and until we have delivered expenses in connection with this property. Upon termination, any and the Warranty Deed. all nghts you may have had in this property shall immediately tenni- s Hate and we may return this property to our inventory and resell it tree 4. YOUR RIGHT TO PREPAY and clear of any claims, liens or encumbrances ansing out of this You have the right to prepay the outstanding balance under this Agnement. agreementin whole or in part at any time without penalty. Prepayment If this Agreement is terminated, our recorded affidavit attesting to r:ucsnot,how•ecer,accelerateour obligation(a)todelivertheWarranty your default and the tennina•ion, shall rte conclusive ptttof of such 1)erd and title insurance policy to you before the Homesite Develop- default and termination far all purpr>ses, and you irrevocably authorize nta•nt Date or (b) to complete the paving of the streets adjacent to your us to thus attest and record such affidavrt as though it were yotu own property before the end of the Homesite Development Year. However, act and deed. ,f vuu do prepay, we will thereupon issue you a certificate of payment ~ in fu1L 10. EFFECTIVE DATE This Agreement is effective and binding on us when you have signed 5. WE PAY TAXES FOR FIRSTTHREEYEARS it and when we have signed it at our Home Otfice. 1Ye may accept or N'ewillpayaltrealpropertytaxesonthispropertywhilethsAgieemetrt reject this Agreement wrthout explanation, and if we reject it, we well s is i,-t [orce or until }ou record this Agreement or unW wr deliveryou a War• return the deposit to you and we shall be released from any obligation 1 1 ratty Decd conve}•ing title to the property to you, whichever first oocura hereunder. However,commencing threeyrarsafter the date of this Agreement, yw will reimburse us for any taxes assessed and paid on this property thereafter. 11. ASSIGNMENT OF THIS AGREEMENT ~ You may assign this Agn•cment with our written consent upon 6. YOUR TRANSFER PRIVILEGE payment of a transfer fee. If your payments are current, we guarantee you the pri~rilege to transfer your equity (the portion of your payments on this protpity 12. NOTICES applied towards principal) at any time before you have paid • _ out- Notices under this Agreement must he in writing and addressed to standing balance in toll. This transfer may Ire toward either: the last known address of the ns{x•ct ive Itarty, exceppt as to the voidance (a) The purchase of available property of equal or higher price in and revocation right as provided in paragraph Id) under "Acknowl- tl?is or any other of our Florida communities; or edgment" section on the face page. (b) The purchase of a standard home built by us in an available 13. FLORIDA CONTRACT t housing area. If you have equities in mom than one homesite, you may transfer The parties agree that this Agreement shall be rnnstnred and in- them only to a like number of other homesites or homes terpreted in accordance with the laws of the State of Florida ~~Q~ ~ : i~ 8 s%