HomeMy WebLinkAbout2715
S. ESCROW: The party ~eceiving the deposit agrees by the acceptance thereof to hold same in escrow and to disburse it in aaad-
a~iae with the oerms and oonditions of this contrsct. Provided, howeve~. that in the event that s dis~wte shall arise betwee~ any of
the psrties to Mis contract as to tM proper disbu~sement of the deposit, the party holding the deposit may st his option: 11! take
no accim and hold all funds land documents. if any) until sQreement is resched between the disqutinQ parties. or until a ludpment
1-as been entere~f by a court of competent jurisdiction and the appeal pe~iod has expired thereon, or if appealed then until the matte~
has bee~ finally conNuded, and then to act in accordance with such fin~l judgment; or (21 institute sn action iw declaratory judg
ment, inte~pleader or othe~wise joining all aifected pa~ties and thereafte~ complyi~g with the ultimste judgment oi the court with
regard to the disbursement of the deposit and dispoaition of documents, if any. If a licenv:d real estate broker, the esaowee will
comply with provisions of Section 475.25 (1) (cl. F.S. as ame~ded. In the eve~t of any suit between Buyer a~d Selkr wherein the
estrow agent is made a pa-ty by virtue of acting as such escrow age~t hereunder. o- in the event of any suit wherein escrow agent
interpleads the subject matter of this esc~ow, the esc~ow agent shall be entitled to recover a reasonable attomey's fee and costs m-
curred, including costs and attorney's fees for appellate proceedings. if any, said fees and costs to I~e charged and usessed u court
costs in favor of the prevailing pariy.
T. ATTORNEY FEES AND COSTS: In connection with any litigation arising out of this contract, the prevailing psrty whether
Buyer. Selle~ or Broker. shall be entitled to recover all costs incurred including reasonable attorney's tees for senrices renciered in
co~nection with such litigation including appellate proceedings and post judgment proceedings.
U. DEFAULT: In the event of default of eithe~ pa~ty, the rights ot the non•defaulting party and the Brpker shall be as provided
herein and such rights shall be deemed to be the sole and exclusive rights in such event: la) lf Buyer fails to perform sny of the
covenants of this contract, all maney paid or deposited purwant to this contract by the Buyer shall be retained by or for the account
of the Selkr as conside-ation for the execution oi this contract as agreed and IiquidaLed damages and in full settlement of any claims
for damages by the Seller against the Buyer. (b) If Seller fails to perform any of the covenants of this contract, all money paid or
deposited pursuant to this contract by the Buyer shall be ~eturned to the Buyer upon demand, or the Buyer shall have the right of
specific perfo~mance. In additia-, Selkr shall pay forthwith to Broker the full professional service fee' provided for on the reverse
side of this contract.
V. PERSONS BOUND: The benetits and obligations of the covenants herein shall inure to and bind the respective heits, execu-
tors, administrators, successors and assigns (where assignment is permitted) of the pa-ties hereto. Wheneve~ used, the singular num-
ber shall i~elude the plural, the plural the singular, and the use oi any gender shall include all genders.
W. SURVIVAL OF COVENANTS AND SPECIAL COVENANTS: Seller covenants and warrants that there is ingress and egreu
to wbject prope~ty over public or private roads which covenants shall w~vive delivery of deed. No other provision, covenant or war-
ranty of this contract shalt survive the delivery of the deed except as expressly provided herei~.
X. FINAL AGREEMENT: This contract -ep-esents the final agreement of the parties and no ageements w represe~tations, unless
inco~paated into this oontract, shall be binding on any of the parties, Typewritten provisions shall supersede printed provisions
a~d handwritte~ provisions shall wpersede typewritten and/or printed provisions. Such handwritLen or typev~itten provisions as
are appropriate may be inserted o~ the fxe of this form or attad~ed hereto as an addendum. The date of this Contract shall be the
day upon which it becomes fully exea,ted by all parties.
The form of this "Deposit Receipt and Contract for Sale and Purchase"
has been approved by the Broward County Bar Association a~d
the Fort Lauderdale Area Board of REALTORSs, Inc.
~
s
~
~~::~~:~> -__.
B'l(f?K~~ PA6f~~~.~
~