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!largaret A. Kuse~y
(Two ~re requ d) Executed by Seller pn ~ebruary o~O,.1981. .
.~ . TODAY' S HOt~S BY J.., P... JOHNSOtI,. Ij~L~
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~ ~Seller
seph . Johnson, President
S1,000.d0 received on 2/17/
Derosit received ~ofc~ot~tr~A~t?b~~~01d~gr~~~s•acceptancgo be held
rontract; if check~ sub~ecC to cle~rance.
subject to this
By. .. .................. ...... ... Today's Ho~nes by J..P... .
... .. .. .. • :h~t:t:~~.Z~....
- (Broker) (Attorney) (' Seller ~)
STANDARDS FOR REAL ESTATE TRANSACTIONS
EVIDENCE OF TITLE: (1) A complete abstract of title prepared by a
reputable abstract firm purporting to be an accurate synopsis of the
instruments affecting the title to that real property recorded in
~~ublic records of that county to the date of this contract. showing
in the seller a marketable title in accordance with title standards
,~iopted from time to time by the Florida Bar. sub~ect only to liens,
.•ncumbrances, exceptions or qualifications aet forth in this contract
-nci those which shall be discharged by seller at or before closing.
~') a title guarantee commitment issued by a qualified title insuror
.~~reeing to issue tu the buyer, upoii the recording of the deed here-
after mentioned. an owner guarantee in the amount of the purchase ,
price insuring the title of the buyer to that real property. subject
only to liens. encumbrances. exceptions or qualifications set forth
in this contract and those which shall be discharged by seller at or
before closing.
Auyer shall have thirty (30) days if abstract. or five (S) days if
title guarantee, from t-he dare of receiving the evidence of title to
examine same. If title is found t~ be defective. the buyer shall,
within said period notify the seller in writing specifying the defects.
If the said defects render the title unmarketable, the seller shall
have ninety (90) days from the receipt of such notice to cure the
~lefects, and if after said period seller shall not have cured the de-
fects. bu er'shall have the option: (1) accepting title as it then
is, or (2~ demanding a refund of all monies paid hereunder which
shall forthwith be returned to the buyer. and thereupon the buyer and
seller shall be released of all further obligations under this contract.
!t. FXISTING MORTGAGES: The sellcr shall furnish estoppel letters (not
:~ecessarily in affidavit form) setting forth the principal balance,
method of payment. and whether the mortgnge is in good standing. If
there is a charge for the change of ownership records~ by the mort-
~~a~;ee, it shall be borne by the buyer. Seller shall receive as credit
:~t closing, an amounr equal [o the escrow funds held by the mortgagee.
~o K 350 Pa~E 2448
1'an~ 3 of S