HomeMy WebLinkAbout2236 1. F V IDEN: 1 f)f 1 I1 l.f : }1 } An 041Uit~ Ol title pngrdterl ur bruuyht s:ut+enl b~ ? r?•pulatrle and exltlhrtl .rirHra, 1 lien (11 not Itti++q th+•n . er til,rrl at tgrretl by
an filing hr'.r}'pr?+pnrling to he .err acssuste sVr?Wrsis of thw inslrwuantt dfw.r g the title to tubastt real property rer,onrerl in Chu public +s~.mrtt of eM county
::Hereir:,1M Ia?d is siuwtud, thtosagh dolt Of ConUact An abstract shall conunev a with IM tsrliasl Public records. or such tear Bats as may Da custompy in the
county ,vhNeM the Iti?rl Is situata+/ Seller shall convey a marketable title In sccorH.:nce with Tilts Starwlada actopte+l born time to Time by The Ftorids Bar, sul?jeet
only to leaner tncurnbrar?ces, axcaptions or qualifications set forth in this Contra:r and those which shall W discharged by Seller et or before closing. Upon clwing
of this transairtion such abstract shall bacorrN the property of Buyer, subject to tH•• right of retMtion thtrapl by first mortgagee rantil /ally paid; or jj) a title insur-
anca commitment Istuarf by • qualifiaw) tltb insurot agreeing to issue to BuyM, upon recording of the detrl l0 Buyer, an Owner's policy of titter Intutsnce in •
amount o t s Rurrl?ate price, Inwri??g tills of the BgyN to the real Property, spit jell only to liens, encun?hrancH, exa.eptiont or aliaal+fications ant forth In thh
Contract and !host which s1?a11 be discharged by Sella at or t?afore closing. Buy.r• shell have 30 clays, it abstract, or 6 days. 11 title commitment, from dart of re
csi.ing widence of tills to exti??ina'satne• 11 title is found +lefactive, Buver `half. within J days thsraaltar, Wolf/y SNler In writing specifying defett(d.
l1 asid defeCtls} render title unrnerketable. SHIN shall have lY0 days from reeek,! of notice within whkh to rsrnovt said dafattlq, end if SLAIN Is untuccesslul In
removing therr? within said tint, Buyer shall have the optbn of tither 111 actep+,~tg the title es it thin is, or (Zl demanding t refund of ell monies paid hereurder
which shall forthwith be returhtd to Buyer and thereupon Buyer and Seller shalt be rNaased as to one anothp, of all Iurthp obligations under the COntrtct; how-
ever, SNter egress that ht will, tf title H found to bt unmuketebte, uq diligent effort to correct the tteftcNel In title withlrr the time provided therefor, Including
the bringing of necesfary suits.
R Ex ISTING MORTGAGES: Seller shalt furnish • statement from the mortgageeld setting forth principal balance, method of payment, interest rats and vvhethtr
the mortgagees in good standing. If • mortgage requires approvN of the 9uyM by the mortgagee in a to avoid default, Or for atsumptlon by the Buyer of said
mortgage, and ~ the mortgaftes does not approve the Buyer. fire Buyer ?naY rescind chi Contract, or~ requires en inertasa in the interest rats or chtrgy • 1N
roc any reason in excess of Z/00.00, the Buyer may rescind the Contract unlau Seller Nects to pay such increase or excess. Seller shall pay 50%01 such fee up to
S50 00. BUVN shNl use ressonaDlt dilagtnCe to obtain approvN. The amount of any escrow deposits held by mortgagee shall W ertditttd to SNler.
C PURCHASE MONEY MORTGAGES: The purcAast money note and mortgage, If any, shall provide foe • 30 day gfKt Period in the went o/ default li it Is a
first nsortgege and a 15 day grace period if a second mortgage: shall provide for right o} prepayrntnt In whole or In pert without penalty; shell not provide for
acceleration in went of resale of the property: and shall ba otherwise in form and content rpuirad by Sellers attorney; provided, however, Seller may only tt-
,tuire clauses customarily sound in mortgages and rnortgags notes genpally utili>!eef by swings end loan institutions in the county wherein the property is IOCated.
Said mortgage shall require lira owner of the property encumbered to keep all prior Ilene and encumbrances in good standing end forbid the owner of the pro
Gerry from accepting modifications of or tutus advances under Drior mortgagNd. All personal property bring conveyed will, et option of SNler, ba wbject to Mt
lien of the mortgage and evidenced by recorded Financing Stata>rs?ents.
D SURVEY: The Buyer, within time allowed for delivery of svidMA of title and examination thereof, may hwe the property wrveytrd at hIs expanse. if tM
survey. certified by a registered Florida surveyor, shows any encroachment on said property or that Improvements inter+ded to be located on the wDlect property In
facr encroKh on lands of others. or violate any of the Contract covenants, the same shell be treated as a title defect. AnY wrvey prepared in connection with or es s
onsequenca of this transaction may include a description of the property under tAe Florida Coordinate System as defined In Chapter 17'7, Florida Sutures.
E . TE RMITES: The Buyer, within time allowed for delivery Of wltlanCe of title and txantination thereof, or np later than 10 days prior to closing, whkhwer dart
ocr.ns last, may have the improvements;nspectwl at Buyer's expense by a Certified Pest Control Operator to determine whether there is any visible actiw termlu
infestation or visible existing damage fro+n termite infestation in the improvernMts. If BuyN is informed of either or both of the foregoing, Buver will have 4 days
rrom dart of written Works thereof or 7 days a1Ctr sNection of a contractor, whichwer occurs first, within whkA to have sh damages, whether visibu or not. Im
succeed and estimated by a licensed building or gm.eral conUSCtor. SNlar shalt pay vs1k1 costs ut treatment and repair of all dan?sge up to 1ti1S of Purchase Prtce.
Sr,ould such costs exceed that amount, Buyer shell have lire option of eancellirig Contract within 5 days altar receipt of contractor's repair estimate by gwing
.~r:tren notice to Seller, M Buyer may elect to proceed with the Uansaction, in svhkh want Buyer shall receiw s credit st dos+ngp}Jlp~pt»rtt sgYatvtfA~y.%ot
said Purchase Prke. "Termite"' shall be detmtrd to include all wood destroyirq insKts. '1L~I.LL~'~`~ ryIIG
F. 1NG RESS AND EGRESS: Seiler covenants end warrants that there is ingress and egress to the property. i"'~`~At~~ (QrCOfd
, LEASES: Seller shall, not less than t5 drys prior to closing, tarnish to Buyer copies of ell written leases and MopoN letter jl it a ant specifyinO eM
mature and duration Of said tenant's Occuptnr y, rental rates end advanced rent and security deposits paid by tenant. In the went SNler is unable to obtain such
fetters from each tenant, the same information shat) De tarnished by SNIe? to Buyer within said timtr period in the form of a SNler's affidavit, and Buyer may
thereafter contact tenants to confirm such In/ormation. Seller shall deliver and assign all original lasses to Buyer it closing.
LIENS: Salter tinsel, both ss to the realty aril personalty being sold hereunder, furnish to Buyer at time of closing an affidavit attesting to the absence unless
otherwise provided for herein, of any financing statements. claims of lien or potential lienors known to SNter and further attesting that there have been r>o improvs-
rnents to the property for 90 days immMiately preceding data of closing. If the property has been improved within said time, SNler shall deliver re;eases or waived
c! all mechanic"s liens, executed by general contractors, sulxontraetors. wppliers, and materialmen, in addition to SNlasrs lien affidwit setting forth the names of
art such general contractors, subcontractors. suppliers and materialmen and further retlting that in fact all bills for work to the subject property which could grve
es a nests for a mechanic's lien have been paid or will be Oaid at closing.
! PLACE OF CLOSINr: Closirq shall be held in county wherein property is located, et the oflke of attorney or other closing argent designated by Seller.
~ r1ME: Time is of the essence of this Contract. Any reference herein to time periods of less then 6 days shalt in the computation tAere01 exclude Saturdays, Sun-
+dvs and legal holidays, and any time period provided for herein vrfikh shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 p.m- of the next full
business day.
K [DOCUMENTS FOR CLOSING: Seller shell furnish deed, mechanic's lien affidavit, assgnments of lasses. and any corrective instruments that may bt required in
onnec lion with perfecting the title. Buyer shall furnish closing statement, mortgage. mortgage note, and iinanCinp statements.
~ EXPENSES' Start wrtaz and documentary stamps vvhkh are required to be affixed to the instrument of conveyance, intangible tax on and recording of pur-
-Hase money mortgage to Seller, end cost of recording any corrective instruments shall be paid by Salter. DocumenUry stamps to be affixed to the note or notes
se=urea by the purchase money mortgage, cost of recording the deed and financing statements shall be paid by 0uyer. - i
PRORATION OF TAXES (REAL AND PERSONALI: Taxes shall be prorated based on the current yeas s tax with due allowance made for maximum allowable
des=punt and homestead or other exemptions it allowed for said year. If closing occurs at a date when the current year's mitlttge is not fixed, and current year s
assessment is svailsble, taxes will be prorated based upon such assessment, and the prior yeses millsge. It current vest s assessment is not wsilable. then taxes will
be prorated on the prior yesr'f tax; provided, ho+vesrer, if there ere completed improvements on the property by January 1st of year of closing, which improvements
:.ere not in existence on January tat of the prior year, then taxes shall he prorated based upon the prior year s mileage and at an equitable assessment to be agreed
,;~o•, t,erween the parties, failing which, request will be made to the County Property Appraiser for an informal assessment taking into consideration homestead
•t.nn, it any Ffowever, any tax proration based on an estimate may at request of either party t0 the transaction, be wbse7uently readjusted upon receipt of
' f condition that a statement to that effect is sat forth in the Closing Statement.
• "I n t •t,SSESrksENT LIENS: Certified, confirmed and ratified special assessment liens of of date of closing (end not ss of date of Contract) :re to be Paid
• ~ ;error Per•*!ing inns K of date at closing shall be aswmed by Buyer, provided, however, that where CAS improvement has bete substantiNly completed as of the
^are nt Contract, such paneling lien shall be considered sS certified, confirmed or ratified and SNter shall, at closing, be charged sn amount equal to the last estimate
by the public body, of the assessment for the improvement-
O PERSONAL PROPERTY INSPECTION, REPAIR: Seller warrants that all major appliances. nearing, cooling, eltr_trka{, plumtirrg systems, and machinery are in
ore ing condition as of 6 days prior to closing. Buyer may, at his expense, have mtpttctions made of said items by I:rensed persons dealing in the repair arul msin-
re^a~ce thereof, end shall report in writing to Seller such items as found not in working condition prior to taking of possession thereof, or 6 days prior to closing,
. ~~chever is first Unless Buyer reports failures within said period, he shelf be deemed to have waived Seller's warranty as to fsilurns not reported. Valid reported
i `a~~ ,ras shall be corrected at Seller's cost with funds therefor escrowed at closing. Seller agrees to provide access for inspecUOn upon reasonsbte notice. i
r7lSK OF LOSS: H the improvements are damaged by fire o? other casualty prior to Closing, a+d costs of recto+ing same does not exceed 395 os the Assessed
ration of the improvements so damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms o ontract
.~`,F cost !herofor escrowed at closing In the event fire cost of repair or restoration exceeds 3% of the assecse•f valuation O/ the improvements sA damaged. Buyer
s"a ~ have the option Of either taking the property as is. together with either th! asid 39L or any insurance proceeds payable by virtue of such lass Or damage, Or Of
a~cerrnq Contract and recewing return of deposit(s) made hereunder.
_ •.+A! P~TENANCE: Notwithstanding provisions of Standard O, between ContreKt date end dosing date, personal property referred to in Standard O and nsl
nro;~ e•tv. mchdrng lawn. shrubbery and pool, if any. shall be maintained by Seller in conditions they existed ss of Contract date. ordinary wea• and tear excepted.
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r o RnCE EDS OF SALE AND CLOSING PROCEDURE: The deed shaP be recorded upon clearance of funds and evidence of title continued et Buyer's expense.
} s~o:: title in Buyer, withouT any encumbrances or change which would render SNler's title unmarkerable, from the date of the test evidence and the cash pro-
=e:'s of sale shall be held in escrow by SNler's attorney or by wch other escrow spent as may be mWwlly agreed upon foe a period of not longer than 5 days i
and after closing date. It Seller's title is rendered unmtrketsble, Buyer shall within said 5 day period, notify Seller in wrlring of the defect and SNler shall
.,a.a 30 days /rum date of receipt of such notification to .are said defect. In the avant Stlltr fails to timely curt tiaid detect, aN monies paid hereunder sh~il, upon
~;r~n .femand therefor and within 5 days thereafter, be returned to Buyer md, simultaneously with such repayment, Buver strait vacate the premises end recor?- ?
. me rroperty in question to the Seiler by special warranty deed- In the event Buyer fails to make timely demand for refund, hs shat! take title as is, waiving alt ,
..,rs against Salle. as to such intervening defect except as may be available to Buyer by virtue ni warranties, ii any, contained in Deed. In the eve•st a rq•tion ui the i
c'r ace price is to be derived from institutional financing or re financing, the requirements of the lending institution ss to place, ti~*re and prnceduref for ciafir,g,
3-7 !o. <iishursemenr o! mortgage proceeds. shall control, anything in this Contrast to the contrary notwithstanding. Provided, however, that tare Salle. shall have
A r~g~t to require from sucA landing institution at closing a commitment that it will not withhold disbursement of mortgage proceeds ss a result of any title defect
••.riHut9ble to Buyer- mortgagor. ,
ESCROW: Any escrow agent receiving turirf! t~ srJthrniatrf and agrees by acceptance thereat to promptly deposir and to AoM same in escrow and to disburse t
a.•,p subfer't to Nearance thereof in secordan~e evith terms and conditions of Contract- Failure ei clearance of funds shalt not exr,se pe?forrnance by the Buyer.
^ rnP event of doubt as to his duties or liabilities under the provisions Of this Contract. the escrow agent may in his sole diserehon, continue *o hold th! monies t
•,n~cH aro the subject o1 this escrow until the parties mutually egret to the disbursement thereof, or until a judgment of a cOi,rt of competent jurisdiction shall i.
?^;~ine she rights s+t the parties thereto, or he may deposit a!1 the monies thin held pursuant to this Contrtrt with the Clerk of th! Circuit Court of the County
r`e•.~,.g jurisdiction of the dispute. and upon notifying alt parties concerned of such action, all liability on the part of the escrow agent shalt fully terminate. except
the extent o1 tCCO+mting for any mOniK theretofore delivered out of escrow. If a ikensed real estate broker, the escrowee will comply with provisions Of Section -
a r5 ?5 [ ly (d, F.S., ss anundNl. In the evenr of any suit between Buyer and Seller vrrftereln the escrow agent is masde a party try virtue of acting as such escrov+r
f Hrreunder, or in the event Of any suit wherein escrow agent interpleads the subject meutr of this escrow, the escrow agent snail he entirled to recover s
Jesonabtw_ attorney's fee and costs incurred, said fees and costs to 6t charg[d and assessed tl court costs in favor of the prerrailing party. Alt parties agreft that the
i =r • + agent ,rt?sil nqt Fre Habit to any party or person whomsoever for misdNive?y to Buyer or Seller of monies sabltet to this exrow, unless such misdelivery shall
g _ e y• ~e to willful breech of rhis Conttwct or gross negligence on the pert of the asrrow spent.
„T rORNEv FEES AND +:bS7C, in connection with any litigation Including appellate proceedings arising out of this Contract, the pr;r?siting party shell tr!
-^•-r~~:f to reCOVet rdafonable at[OrnCY•f Ices and COStf- _
~ ~ AULT~ If Fluy?• sails to porlprrn this Conhart vnrhin the time specified, the deposit(s) paid by the gayer aforesaid may be reuinea by or cur the account j
as tiqu°rtaterl der+nages. consirre•atinn for the execution of this Contract and in tuh uttlen.ent of any claims, whereusnn ail parties shall he relie~'ed of =
~ r:garions under the Coatrscr; or Seller, err hs optwn, may proceed at law or in egJity to enforce his level nghts :ruder chi; Conrract. If, /or any reason othu ~
a^ E.~~ture of Setles to +ruder his title marketable after -3ingent effort. Seller Iaits, neglect, or refuses to perform thit Contract. the Buyer may seef specific Per-
r•~ =•,ce or elect to reserve the return of his depositls! s-•r:nout thereby waiving any action for damages resuhinp from Setla~s bresc!t
C'rTRACT NOT RECORnABLE, PERSONS BOUND AND tvOTICE: Neither thts Cnntrs•a our any notice thereof shall be recorded in my t-nbirc records.
• .s Contract shNt bind end inure in the benefit of the parties hereto and their suctefv~rs in interest. Whene.~• the context permits. finyuiar shall include piurtt and
r, a p~nde• shall include s11. Nonce given DV or to the attorney for either party shall be as eltacure as if given by, or to srd party
PRO RATIONS ANO INSURAFICE: Texts, assesstt?ents, rent, interest. insurance end other expenses and .venue of asid proierty shall he prorated ssotdste
o` r teeing. Buyer shall have Me option of taking over any existing policies Of insurance nn the property, it sssur-.,able, in which rt•~en, pr~rniums shill he prorated.
The cash at closing shell ba increased or decreased as may required by said pr orations All refe•err[ef in r:ontrut co P•orations ss of dal! of causing vfill be
:ee~•ed '"daft of occupancy" N Oeatrpp?cy occurs prior to closing, unless otherwise providM for hrrern.
Cur:VEYANCE: Seiler slTall,convti? title to the alorosaid real property by statuto•y warren±y deed sr,blect only to msttert contained in Paragraph V11 ncreof-
Persensl property shell, at thi ?lgtllrt3t Of Boyer, be concaved by an absoluq bill of sale with warranty of title, wbjtct to such IiMS as may he ntherwisa prorided
!or Herein.
OTHER AGREEMENTS: No prior or prrent agreements o? representations sha!1 be binding upon any of the usrties herr+o rir.tess inro.p.?rwted in
E rh is Contract. No modification or change in this Contract shall be wed or binding upon tM psrtiN unless in writing, txecur.d ny the urirtil't •o he br,und th?rebY. •
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