HomeMy WebLinkAbout1509 A. If the Purchaser properly terminates this contract pur-
suant to its terms or pursuant to Section 718.202(1), Florida
Statutes, the-initial deposit shall be paid to the Purchaser together
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with any interest earned thereon.
e. Upon closing of the transaction, the principal amount of
the initial deposit shall be paid to the Seller. Any interest earned
upon said initial deposit shall be paid by the escrow agent upon
closing to the Purchaser.
3. DISPOSITION OF THE BALANCE OF FUNDS PAID .BY PURCHASER TO
SELLER PRIOR TO CLOSING: Any su'm or sums in excess of the initial
deposit of ten percent (10$) - of the purchase price may be used by the
Sellter in the actual construction and development of the condominium
property in accordance with the provisions of Section 718.202(3),
Florida Statutes. ANY PAYMENT IN EXCESS OF TEN PERCENT (10$) OF THE
PURCHASE PRICE MADE TO THE~DEVELOPER PRIOR TO CLOSING PURSUANT TO THIS
CONTKACT MAY BE USED FOR CONSTRUCTION PURPOSES BY THE DEVELOPER.
4. TIME OF COMPLETION OF PROJECT AND TIME AND PLACE OF
CLOSING OF TRANSACTION: The Seller (which is also the_Developer)
expects the condominium project to be cornnleted no later than December
31, 1981; however, Seller will attempt to complete the transaction at
an earlier date. The closing of this transaction will take place not
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~ later than thirty (30) days after notification to Purchaser that
contruction has been completed.
Closing of the transaction shall take place at INDIAN PINES
vILLAGE office on the project site or at such other place as the par-
ties may agree.
5. TITLE: Upon closing, title to the aforesaid unit and its
appurtenant common elements shall be conveyed to Purchaser by Seller by
t•:arranty Deed free and clear of all encumbrances, save and except
easements and restrictions of record, the Declaration of Condominium
to be recorded and all of the reservations, restrictions, conditions
and easements as are contained in the Declaration of Condominium and
the related condominium papers. Seller shall provide title insurance
issued by a reputable title insurance company doing business in the
State of Florida in the full amount of the purchase price. Closing
expenses shall be pr:id as follows:
BOOK / PdGE 15W
EXHIBIT A