HomeMy WebLinkAbout2110 A E1/IUE N•'1 U1 t t? l1. ' II I An ylltuphj of Ullg pr,rl.ar,xl w brought curtont by t trputahlp reed rslsutW at?strocl 11?nt (ll not axlstirt0 thus, ertlhed iL comet by
palssu,i} 4fn,l puy,wrling to Ms au acn,rale sYrrWrsif o) the nslrwner,h al!ecung Chu title to subjrs-1 real proptrry uY.uru,nl m the public rn.Y.o?ds of lM county
s••hersin tl.a land is siutated, through dart of Corruact. An abstract shall con.mtncs with the taAiast public rttords, or such taco deco as may t,a customary in the
county wM:tin the (anwl is situata,l, SN1er shall convey a n,artuwhlt title in acurdar,cs with Tltlt Stamla?dt arloptwl hom tint to tln,t by Tht FtoNda Bar, subltct
only t0 liens, ancumWar,cas, t4captions or yualitscaUOns wt forth in this Conrrsct and those which shall bt difcbargW by Seller tt err Delora closiny. Upon Nwing
of this vMSactiun such aisvact shall become the property of Huyar, wbjtCl :o lM right of naMiun thtraol by first mortgages until fully paW:or a titb Incur
ant nur,itmen~ issued Uy a quabherl title insuror agreeing to issue to Ouyer, ulaou recording of the desY1 to Buyer, an Uwnert polky of IiUt insurance m hr
amowrt of tfai purchase price, inswing tN1a of tM Duyer to Ihr real property subject oMy to Utns, tncun,Waruts, sr~tptions or 4uaht,cttions sit forth in Mis
Contract and chow whkh shall bs discbrrytd by Salltr at or btfou closing. H•,yer shall have 90 days, ll abstrsca, or 5 days. if title consmitn»nt, from data of re
calving widtnct of tiUt to exanHna earns- 11 title is loured delectwt, 0uyw shall, within 3 ttaYS thereatta, nollly SNbr in writing spscilying dtlKtlsl.
tf said daltctls) rer,dtr tillo un,rrarkttable. St11N shall have 1?O days from receipt of notkt within which to rtr,WVe said Uslect{s1, end if SNIN is unsuccassfut in
ranraovinp them within said tinnt, Buyer shall have the option of either I t) accepting the title as it then is, or I4t dsn,ar,ding • refund of all monies paid hsrwnder
.'.filch shall IorlhwiM bt returners to Duyt? and thereupon 8uyar end SNltr shall bs rNNSeaI as to one another, of all further obligations u,Wer the Convect: how-
e+a• SNta agrees that ht will, it title it found to bs Unmarketable, uN diligent short to eOrrset the dtfectlsl in tills within the tint provided thtnlor, ineludin/
the bHnging of nacttsary suits
8 EXISTING MORTGAGES: Salltr shall Iwnish a ststannonl Irom the mortgagesld sitting forth principal batanct, method of paymtrtt, interest rats and wfrtther
the mwtgagrls ~t in good standing. If • mortgage rs•3uires approval of the Buytt by 1hs moapagts in order to avoid default, or for sssuu,ption by tbt 8uytr of saki
mortgage, and ~jl the n,ortgalut doss not alWrovt the Buyer, the ituyar may referred the Contract, or requires an Increase in the Interest raft or charges • ter
fo. any reason in eacss of S 100.00, the Huya nuy rescind the Conuact unless SeNtr Netts to pay such increase or sxe:ess. Stllw shall pay 50% of such Its up to
550.00. 8uya shall uw rwsonable dinganee to obtain approval. The amwrnt of any escrow deposits bete( by nwrtq,?pcro tlnall ht aabted w SNltr.
C. PURCHASE 14tONEY f410RTCaAI~ES: Tha purchaw money rwte anW mortgage, it any, shall provide fora 30 day grxe period in the went of default If It !s t
first mortgage and J 15 day graft p,.YlOd it a second mortgage: shall provide for right of prepayment in whole or in part without penalty;shall not providt for
aculerat:on in want of resale of the property: and shall be utht?wiw in fornn send content requirsrl by Seltgr's attorney; provided, howevw, SNltr may only n
nuiro clauses wstu,narily toured in morryayas am/ mortgage ,wtes yenarahy ulilieod by savings and loan ursfilutiuns m Ihr county whmcin the t?rtrpnty is located.
Sail ,uwtyaas shall rap,irt the ownw of the properly eru.umbrred to keep all prior liens Intl tncunabransces in gpwl standing and forbid the owuw of the pro
t arty from aeceptrng madihcations ul or future adwncts unite( prior mortgagu{sl. All personal property being conveysal will, at option o! SNltr, bs iuhjr?et to the
t+sn of the mortgayu an4 ts•idancaYl by recordrer Financing S[rtwnents.
D. SURVEY:-Tha Buyer, within tins allowed for delivery ul wislenct of title and exgnination thereof, inay Inavs the property survtywl at his txptnN. It the
swvey, cerlihtd by a registerwt Florida surveyor, shows any encroxhment on said property or that improvements intended to bs locatrcl on the subject property in
fact encroach on lands of othe,s, or violate any o1 fha Contract ewrnants, she same shall bs treaters as a title defect. Any survey preparcYs i„ connection with or as t
~onssyuenct of this transaction naay include a detcriptiun of the property wxltr rho Florida Coordinate System sf definws in Chapter 177, Florala Statutes.
E. TERMITES The 8uyar,. within time alloweA for delivery of wiaance of title end exanninatiun thereof, or no later than 10 days pNOr to closing, whichever date
occurs Ital. may have fha ingnovemems insi,ecter/ at Buyer's rxpenw by a Cmtitirrf Ptst CmwM Operator to Qerermias whether there is any vitiblt strive termite
;nle[1atiOn Or visibly existing Damage Irom tennitc infestation in tlq improvements. If Buyer is intonnenl of either or both of the foregoing. Buyer will hws 1 digs
from dart o1 written notice thereof or 2 days alter selection ul a eomrxtor, whichever occurs firs[, within whkh to have all dmnagcs, whethn vis,ble or not, in
st,ected aril estimated by a lir:erised building or general contractor. Seller shall pay valid costs tit treatment errs repair of all dsmsye uP to t';ai of Pwchaw Prke.
ShuuW such costs e.cred that :.mount, Buyer p,alt have the option of cancelling Contract within 5 days atttr receipt o1 cunUar:toi s raga,- r
estirnste by giving
.ro:Wren notice to Seller, or Buye, may eleaa to proceed with fha transaction, in whkh went Buyer shall receive a utdit at closuag of an mount ralual to 1XK of
card P.,rchase Pr,ce. "Termite" shall be seamed to irx7udt all wood destroying insects.
r :Nr:?rE ANp L'GRESS: Seller covenants and warrants that stare is ingress and sgroa to the property.
. t Ati[ S,•i?er shall. not Isis than 15 days prior to closing, furnish to Buyer copies of all written teases and tstoppN letters Irom tech tenant specHying fha
+,anne and d•,natwn of said tenant's occupancy, rental rates and advance[) rent and security deiosits paid~by tenant. sit the wens Salltr is unable to obtain such
ratters fion, each tsna,rt, the sanoe intonnation shall he furnished by Salter to Buyer within said time ptriod in the form of a Seller's affidavit, and Buyer may
thereafter contxt tensors to [onlinn such information Setter shall deliver and assign all original teases to Buyer tt closing
rt. LIENS: Seller shall, Loth as u, chit realty aril personalty being sold hereurufer, furnish to Buyer at time Of closing an affidavit attesting 10 the shsenu unhss
other wise provided for herein, of any financing statements, claims o1 flan or potential lienors known to Seller and further sttsstinq that there have been no improve
n,errts to the proper ty for 90 clays immediately preceding date of ctoting. 11 fha property has Dean iu,provcW within said time, Setter shall delis•er ?elwsef or wa:veR
o! all mechanic's hams, executed by yeneral conhactors, subcontractors. suppliers, and materialman, in trldition to Seller's lisp affidavit setting forth the names Of
all such general contractors, subcontractors, suppliers and msterialrren and further reciting that in fact all bills for work to the subitct property which could serve
as a basis for a machan,c: s lien hays been paid or well be paid at closing.
PLACE OF CLOSING: Closing shall be held in county wherein property Is located, at the ollkt of attorney or other closing agent designated by Salltr.
J TIME: Tirne is of the essence of this Contrtct. Any reference herein to time periods of less than 6 days shall in the co,nputat:on thereof exclude Sat,irdays. Sun
rtavs and ltgai holidays, and any time period provided for herein whicA shal{,tnd tin a Saturday. Sunday or Itgal holiday shall extend to 5:00 p. n,. of the next full -
business day_
x DOCUMENTS FOR CLOSING: Seller shall furnish deed, mechanic's lien affidavit, assignments of leases, and any corrective instruments that may bt required in
com,ection v.ith pertectiny the tills. Huyrr rhsll furnish closing statement, mortgage, mortgage note, amt tinancmg statements
L E xPENSES. State surtax and documentary stamps whkh ire retiuirerl to be ,ftixld to flat instrwnent of conveyance. inlany,ble tax on and recording o[ per
i~~se rnonty rnortgaye to Seller, and cost of rexording any corrective instruments shalt be paid by Seller_ pxumentary stamps to be sffi:ed to the note or notes
secure) by the purchase money mortgage, cost n1 recording the decd eras financing statements shaft he paid by Duyer.
PRORATION OF TAXES (REAL AND PERSONAL): Taxes shall be prorsters based on the current yeai s tax vrith due tllosvanct made for maximum sllowablt
:,+scount and homestead m other exNnptions it aiiowed for said year, If closing occurs at a date when Ihs current yeai s millage is not fixed, and current year's
assesarnent is available, taxes will be prorated based upon wcA assessment, and the prior year's mihage_ H tenant yeai s assessment is not available, then taxis wilt
~z prorated on the prior year's tax, provided, however, i1 there are conapleterl inrprove+nents on the property l,y January 1st of yeor of closing, arh:clr i,nprovemsntsl
:'ere not in existence on January 1st of the prior year, then taxes shall he prorated based upon the prior year's millage and as an equitable assessment to be agrebd
:po,a between the parries, tailing which, request will,be made to the County Propnty Appraiwr for an inlunnel assess,utnt taking into consideration homKtlan
eKensptiOn, if any. flowevtr, any tax proration based on an estimate may at request of either party to the transaction, tat subsequently readjusted upon receipt of
sex bill on condition that a statement to that enact is set forth in the closing statement-
N. SPECIAL ASSESSAiENT LIENS: Certified, eontirmed and ratifieel special assessment liens as of date of closing land not as of date of ContracU ere to be paid
by Seller. Pending liens as of date of closing shall be assumed by Buyer, providW, howwer, that where [ht improvement has bran substantially completed as of the
date of Context, such pending lien shall be considered ss certified, confirmed or rstitiad and Seller shalt, at closing, bt charged sit amount equal t0 the test eat irnttt
by the public body, ul the sssessrn,ent Sur the inr,proven,ent.
O PE HSONAt PROPERTY INSPECTION, REPAIR: Seller warrants that all major appliances, heating, cooling, electrksl, plumbing systems, and mxhintry ere in
::ork ing condition as of 6 days prior t0 eloping. Buyer may, et his expense, have insperawns made of said items by licensed persons seating in the repair ants main
j :znance thereof, erect shall rej,ort in writing to Seller such items as loured not in working condition prior [o taking of possession 1her,Wf, or 6 drys prior to closing,
:.h~~hrver is first Unless Buyer reports failures within said period, he shall be deemed to have waived Sellei s warranty as to faiturns not ,euorte+s. Valid reported
!a•l~,es shaft be corrected at Seller s cost with funds therefor escrowed at closing. Seller egress to provide access for inspection upon uawnsble notice.
P RISK OF LOSS: H the I,nprovements are darntged by lire or other casualty prior to closing, grid costs of restoring sane does not exceed 3% of the Assessed
~ V 3luarion of [he improvements SO dannaged, cost of restoration shall be an obligation o1 the Seller and closiny shall proceed pursuant to the terms o antrKt
tii( ,F-post therclor escrowed at closing In the event the cost o1 repair or rrsto?ation exceeds 3 : or the assessed vetuation of the improverntlnts so damaged. 9uysr
s+re~l have the option of eithe. taking the property as is, together with either the said 3Yr or any insurance proceeds psyabte by virtue o1 wch loss or damage, or of
-an+ e,rng Contract and receiving nwrn of deposit(s) made hereunder. _
n r,tAINTENANCE: Notwithstanding provisions of Standard U, between Contract data and closing date, parsorral property referred to ire Srsndard O and real
I irronerry, rnchxfutg lawn, Shrubbery and pool, if any, shall be maintained by Seller in condrtians they existed as of Contract date, ordinary wear and tear excepted
R PROCEEDS OF SALE ANO CLOSING PROCEOURE: The deer( shall be recorded upon clearance of funds and widence of title cnntlnued at Buyr?'s txptnse,
to shu.v tittle in Buyer, without any encumbrances or change which would render Sellei s title unmarketable, from the date of the last nrvidence and the cash pro-
cae.,s o! sale ths11 be held in escrow by Seflei s attorney or by such other escrow agent as may be mutually adrerrl upon for a ptriod of not lunyer than 5 days
r•rsr•-. errs alter closing data. If Stllrrs title Is rendered unmarketable, Buyer fhall within sale( 5 day perioA, noti!y Seller in writing of the dettY:t and Seller shall
r".~a 30 days twm Wee o1 receipt of :urh notltlcatlon 10 :J,o said defect. In the Cven1 SeI1N tails w timely cure sent tlstsct, .11 monies paiA herr.und•nr :hill, upon
:.r rtten rlemt„d there/or and .arithin 5 days thereafter, bu reU,mtd to Buyer and, simultaneously with tech reis,ymeat. Buyer shall v,aca~e tbs. prunses and ict•at-
:.,ti, fha ,:ro[.erty in question to the Setter by special .waranty deed- !n the event Buyer tails t0 make timely demand Ihr rr-firnil, he shall rakd title is is, v~aivi,ag alt
+~Ynts ayairst Seller as to such intervening defect except as may be wailrble to Buyer by virtue al ,vanantias, if any, containa•t1 in steel. to the event a portion ul tot
u-..rchase ,+,l.ee is to be dariyed from institutional financing or re /financing, the rcYtuiurnents of the IerWiny institution a: to places curer anent prni,~•ilorrs for closiny,
,,,.r !or disLu,semi;m of murtgaye yroceMls, shall control, anything in this Cuntnct to the Contrary r,otwhhstending Provide+l• hnwevt,, ti.at the Shcer sb,ll hale
r,yht to ra iuue burn such lending institution at closing a rommilment that it will not Withhold disbursement of mortgage procearls as a result of aoy retie de1rC1
tt:nUutjblr to Ni,yer- mortgagor.
E ;C HJW A.ay Escrow agent receiving funds s authorised and ayrees by scceptanca thereof to promptly deposit and to hold same in escrow enU to dislwne
sa-•~c s~.rblr~-t to clearance thereof in accordance >•+ith terms and conditions of Contract. Failure tit clearance of lu nits shall not eRCUSe perfonuarKe by the BoVCr.
Use event of doubt as to his duties or lisbilitirs under rh. provisions of this Contract, the c-!crow agent may in his sole discretion, continue to hot.l the monies
:r.~ n arv the sr,Cject of this escrow until the pancreas mutually agree to-the afisbuntment thereof, or until a judgment of a cnwt of competent jurisdiction shall
•-to:~•: rr.ine the rights of the parties thereto, or he pray deposit all the monies then held pursuant to Ihts Contract with the Clerk o1 the Circuit Court of the County
g ^v. ~r:q junulrt[ion of the dispute, and upon notifying aN parties coracermrd pt such acbcsn, all IiahJity tin the part tit lhs escrow a!Mnt shall fully Isnninatt. except
36 ~ ~ thn extent of accounting fur any n,unlas theretofurr delivered out d1 escrow. 1(a IicenuYl real estate bro?er, Iho tsr:rowee will cumpty with pw?isions tit Section
4 7'. ?r (11 Isl. F .5., as arrrendeat. In the event u1 any suit bct.vicen Buys and Scllrr wherein the escrow ayrnt is rnarJe a Party by vpnne of actlr,y as such escrow
e. dent hereunde., ur in the event ui any suit wherem rscrnw agent u,terplearls the subject mariu of this escrow, the escrow agent :hall he entitled to rtcwer a
r;:asunable atlonwY's tee and costs incurred, said fens and costs to be charged and assessaal as court costs in favor of the prevailing party. All pa.ti•:S sgrer fha[ the
e,-•'„v agent shalt not be liable to any perry or person .dromsuever for miefelivery to Buyer or Seller of monies s•,htect to this escrow. unless such misdeliverY shttl
~e ~tue to willful bleach o1 this Contract or gross negTgence on the Vtrt of the ,nr.rOw agent.
1 4T 1 ORNE Y FEES lsND r:OSI S In connection with any litigation including aiapetfate proceedings arising .,ur of this COrlVSCt, the pr~sarbng party shall bs
~ :t,tled to recover raasonaAla attorney's Ices and costs.
Cr E F AULT : H Buyer fails to perform thee Contract wishin fha time specified, the depositlsl paid Iry fha 3uyer aforesaid may be reraine+l by or fur the account
rr Saner ss liquidated Wma9es. consideration for the execurion of this Contract and in full settlement of any claims: •vhereui.nn all parhaK shall he relieved of
sal oLliyatiuns under fha COntr ac t, or Satire, err firs oi.twn, may proceed at law or in eyu,ty to enfGrce his leyal riyhts under chi; forefeet t. 11, for any reason other
!!an fadrrre of Seller to render his title marketable after ,liligent etlorr, Seiler lads, neylects or refuses to per loan this Cnntrac t, the Buyer may seisti. specifk per'
r,,rrnance o. erect to receive the r.:wrn of his drE:osit(s) ivrthoui thanr•.by waiving any action for da,nagss resulriny from Sellers breach.
CU~JI HACT NUT fIECOROAOLC, PCItSONS BOUND ANO NOTICf_. Na,;her this Cohtra.a rear any nat:cr thereof shalt br rerouted rn any public records.
7 his Contract ~aHl bind an4 i.ture ro fha benefit err Ihr parties t.treto snJ their st~~ .esson in intrust- Whsnev!r the cnntsxt pennies. singular shall include plural and
r,nr gender shall include all. Notice given by or to the attamey fur niither party sh tit ba ss etleftirv as it given by Or d, said perry.
Yr PEIORATIONS AfJD INSUfIAfJCF Tax r:, assessments, rent, interest, insur,.ncr and other expen,.lrs and revenue nl Sa:.l y,op~rly shall ba yroraxoJ tf Of daft
of closing. Duyer shalt have Chu opUOn ul taking 4v¢r any exstinq poticisS of in; ,rand on the property, if aasiu„aAle, in adnch a:..nr'prrnnlurnt Shall ba prowled.
f hs cash et closing shall At im.reaS~xl ur rl.tcrsatt+l aS 'nay Ire rgpnired by sail rumahans 1.11 rrfrrunc its in Conrr~Cl 10 prm Otnuns as of .1a,r of fluting w,ll bs ~
craned "Nett of occupancy" d occupancy occurs prior to ctnsing, unlr,SS other r.. v• pruvMlwf for hermit
!
x CUNVEYANGE Seller shall convey title to the atarrsaid real prol,r•.tY by !r•rt rtury wsnanry snarl subler-t rrnly to ni.attrtra ?On.ainal rn PaaryralaKVll fintoL
Ptrsund property !hail, al the rrrtucsl tit Ito/cr. ue conveyed by an ..baohrti• bdl .=t Sale wilA warranty ul U?IC sufgen 1 lu sn• h bans ,rs may hr nthvnvlsi yrOSrided
for harem- ii
. OTHC 11 AGIII 1 1,11 NTS: Nu piton tin prezvnl a;peu,ncnhf W rrJ~+iOfer,l ~..nr} rtlraN I,t birrhng rrp,.n my ul nhi• „areas h.n. rO nnrusa irsrrnianratttf In
this (.On11af1 Nn nw,hhr actin or ehanya ire chit Contrtct shdi Isa valid Ot IrUun,.g napun fha pnrt,es nnlus? in writn4l. rI?rr u1•+1 by don r, tin.-. '.t 1••• )'Duns rlu•rnNry.
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