HomeMy WebLinkAbout0956 ~ • STAN~ARDS fOR REA~ ESTATE TRANSACTIONS .
? E V IDENCE OF TITI.E: Q An ~eiL~ee of U~I~ prp~~~d o~ Orou9ht curr~nt by ~ rpua0l~ ~nd ~ai~tinp bstr~ct firm (lf not ~alrtin0 tA~~ eKt11iW n corr~et by
.n an~atlnp firm) pu~po~tin0 t0 b~ ~n ~ccur~t~ ~ynOp~i~ of M~ initrum~nt~ ~1f~ttir?0 t~~ titl~ t0 ~upj~tt r~N propNtY r~co~dW in tM publlt r~cor0~ of tM county
.~.~r~ln tA~ land i~ ~itu~ttd, th~ouph d~t~ 01 Contr~et. An ~bttr~tt fh~ll eomrwp+c~ with tA~ ~~rll~tt publ{e r~cOrd~, o~ WtA I~tN d~t~ M m~y M eustom~ry in th~
o..n~y whK~l~ cM I~~d is sltu~ad. SNI~r ~Aall conv~v ~ m~~k~t~bl~ titl~ {n ~ccorda~c~ with TicN SandKds WoDtb from tlm~ to Um~ bY Th~ Florida 8ar. subj~e~
v.+~ eo Ii~n~, ~~cuma~neq, ~xcpiions o~ vu~Ulic~tlons at forth i~ ehls Contr~ct ~nd thoN wAkh tANI W ei~e~~rp~d bv SNN? ~t or Wfo~~ Noalnp ~VPw~ closiM
~f ~~1a t~Mt~itiOn wch ~bstr~et,sh~l1 b~som~ th~ prop~rty at BuyM. WbJ~et to th~ ri9ht of r~t~~tto~ th~~~Of by flrat mortp~pN un111 fu11Y P~~4: o~ l[J
c mmit ~~t Isw~d Oy • 4uNifi~d Ntl~ I~w~O? prNi~O to ipu~ to BuYM. uPo~ r~cordin0 of M~ dNd to BuyN. M Own~~ ~ polic~ of tit1~ inwr~nc~ ~n
r.+ounc o th~ Purch~t~ P~ic~. inwrl~0 titl~ Of tM 9uYM to tA~ ~W P~MMt11. wO~~et oMy to Il~ns. ~neum~~anc~s. ~xc~ptiom or ouNific~tbns t~t Io~M in thh
:o~cr~ct aod tAoM which sANI D~ dlah~ry~d by SNIN ~t or b~fo~~ clo~i~0. BuyK ~hNl hav~ 30 day~, Ii Wstr~ct. or 5 dayf, if ticla commltma~t, from d~i~ of
«vino wid~nc~ of titl~ ~o ~a~min~ a~m~. If titl~ 1~ found d~f~eUv~. 8uv« fhdl. wlthi~ 3 d~ys thK~ahK, notify SNIM In vwitiM W~t~fYiM d~f~etfal.
r sa~d a~f~ctla) ~~~da Nel~ unmuk~t~W~, SNIK sh~ll hav~ 120 days froen ~~c~lpt of ~otlc~ within which to r~mOV~ said d~f~cHa1, a+d ~f SNIw i~ unwcc~uful l~
vnwiny th~m wlthin sNd tim~, BuYN Mdl A~w th~ optbn of ~ith~~ (1) ateptin~ th~ titl~ N It M~n I~. o~ (21 d«nu~dlno ~ r~fund oi Nt moNp P~~d h~rwndp
.n?cn ~hNl forthwith b~ ~~tur~~d to 9uyM ~nd MKwDOn OYyN Md SNIN {h~11 C~ t~1~~Nd ~f t0 OM ~fWlA~t, of ~II furMK obllpatb~t und~r th~ Cont~~ct: how-
SNIN p~«s M~t h~ will. ii titl~ i~ found to b~ u~muk~tWl~. uM dflip~nt ~ffort to eorr~ct th~ d~l~ctla in tltl~ wlthin th~ ttm~ ProvlWd M~~fw. ineludiM
fy D~inp{ny 01 nK~sMry Wld. ~
l_ EXISTIN(; MORTGAGES: S~IIK sh~ll fumi~h ~ st~t~m~nt f~om th~ mortp~pMls) s~tti~p fo~th p~incipal b~l~nc~, m~thod of paym~nt. IntK~st r~b ~nd wA~thN
t~a mo~~p~(~j~,~ ~n yoo~ st~~qin0. ~f•~ TOrty~p~ ~pu1~N ~pprovd of M~ BuyN by th~ morty~~ In orQ~ to ~void d~f~ult, or fo~ ~swmption by tA~ BuyM of s~fd
.~orcQap~, ~nd LjJ th~ mortp~p» dMt ~ot ~pprov~ th~ BuYK. B~YN m~y ~~aeind th~ Cont~~et, or ~J rpulrts ~n I~crps~ tn th~ Int~~pt rst~ or ch~rp~~ ~ fN
o~ sny r~~son in ~xc~a of s100.00, m• euya ~+•r r~sc{~d M~ Contr~ct unl~a SNIN N~ca to p~V wch Inc~Nw or ~xcsss. SM~~ ~hall wY 50% of wch iN up to
tSQ00. 8uy~r sAall uw ?~~sonabl~ dllip~nc~ to o0aln ~pprovN. TA~ ~mount of ~ny ~st~ow a~poqts hNd by mortqay~~ shNl M er~dit~d to SNIN.
~ PURCHASE MONEY MORTGAGES: Th~ purch~t~ mon~y not~ ~r?d mortpp~, If ~ny, fh~ll prov{d~ to~ ~ 30 d~y pr~t~ p~rlod In th~ w~nt of d~fault If It is •
~n~ martpp~ ~nd a/5 d~y Or~c~ pKbd if ~ t~eond monpap~; sA~ll provid~ fo~ ripht of prp~yrtant In whol~ or In p~rt wiMout p~~MtY: sh~ll ^ot p~ovid~ for
.ccN~ration in ~vK?t of r~s~N of th~ p~op~?ty; ~nd ~I?dl b~ oMKwiw M form ~nd tont~nt ~~qul~~d bY SNI~i s atto~o~y; provid~d, howwq, SNIM m~y only r~-
zuir~ cl~uws customarily tound in mortp~~ ~~d mortpap~ notp y~n~rdly utiii:~d bY s~r?inps ~e~d Iwn institutions i~ th~ counri ~~r~i~ th~ p~op~rtr is Ix~t~d.
~1a mo~tpsy~ ~hNl rpuir~ th~ ownK of th~ PropKty ~neumbK~d to kNp ~11 P~ior li~ns ~nd ~neumD~ane~s In yood sur?dieq Md forbid ~h~.ownp of tA~ pro-
,wcy Irom accptinp modificatbm ot or futur~ sdv~ncp u~d~? prior mortp~pdal. All p~rq~al propa~ty bNnq convty~d will, ~t option of SNI«, b~ wOj~ct to tM
at :lsa mOrtpspt a:sd tvldelseed try rteordsd Financ4np Ststeme~ts.
SUHVEY: Th~ Buy~r, within tim~ sllow~d fo~ dNivNy of ~vfd~nc~ oi tltl~ ~nd ~x~min~tion M~~~oi, m~y hav~ th~ proM~tY sutvfyW at his ~itpN+w• If tA~
..,rv~y, cNtifi~d by ~ rpist~r~d Florid~ wn~yor, shows any ~nerostAm~nt on ssid.propMty o['Mat improvKn~nq int~nd~d to b~ locat~d on M~ wbj~ct Drop~rty i~
~~cc ancroaeh on Isnds of oth~n, or viol~t~ ~ny of M~ Cont~act cov~n~ntt, ih~ asrtN sh~11 b~ tr~itd ~s ~ ~ifN d~i~et. Any wrv~y P~~P+r~d i~ conMetio~ with or as •
:o~wqu~nc~ of thit t~~nf~ction may intlud~ ~ d~scription ot thrprop~rty undN th~ Flo~id~ Coordin~t~ Syst~rn ~s d~1in~0 In Chapt~r 177. Flo~ida S4tut~
E. TE RMITES: Th~ BuyN, within tim~ ~Ilovwd for dNiv~ry of ~vtd~nc~ oi titl~ ~nd ~Yap1i~~=iofr th~?wt or ho lat~r th~~ 10 days prior to closino, whkh~vN d~t~
xcurs I~st, m~y hw~ th~ improv«nents insp~ct~d ~t BuyN's ~xpMS~ by ~ C~rtifi~d P~st COntrdl Op~ratof to d~t~rml~~ wA~tAN th~r~ is ~nY vlsibl~ sttiv~ t~rmlt~
~nfvstatiOn or visiW~ ~xisti~o d~maps trom tKmit~ int~station in th~ improv~m~~t~ Ii Buy~r is inform~d oi ~ith~r or both of th~ forpolnp. BuyK will hav~ 4 d~ya
rrom dat~ ot vwitt~n notic~ th~rwf o~ 2 d~ys ~tcw Nl~e~ion of ~ contr~etor, whkh~vN oecurs fint, witAin whlcA to h~v~ ~II d~m~pM, w1+~ch~r visi0b or not, in-
~qcced and ~stimat~d by • lic~nf~d buildiny or pM~ral contractor. SNI~r fAall p~y v~lid coari of trutm~nt u~d rp~i~ of ~II d~mp~ up to 1X% of Purehas~ P~ic~.
Snrsuid such eosts ~ccNd ch~t ~mou~t, Buya sANI haw th• option of c~neNli~y Contr~et wl~hin 5 d~ys ~ft~r r~c~lpt of co~trsctors rpa~r ~st~mat~ by Oiv~nO
.vricten notie~ to SNI~r, or 8uy~r msy N~et to Droc»d with th~ trans~ccion, i~ whkh ~v~nt BuyN fhall r~c~iv~ ~ cr~dlt ~t ttosinp oi a~ ~n+ount ~qu~l to 1X7~G of
w1d Purch~s~ Pric~ 'TKmiti' shall b~ dNm~d to includ~ dl wood d~stroylrq ins~ets. . '
f. lNGRESS AND EGRESS: S~O~r ew~nants ~nd wuneq th~t tfi~n is i~qr~ss ~nd pr~ss to th~ p?opKql: .
3_ LEASES: St11N sh~ll, not Iqs Man t5 dayt prb~ tp etotino, furnlth to BuyN eopi~s of ~tl writtM b~sas and estoppN Itt~Na from Meh t~nsnt tp~cityinp th~
rycure ~nd duration of qid ta+ant's oecupaney; rw?tal r~t~s s~d ~dv~ne~d n~t.~d s~curity dposits p~id by t~n~nt. In [A~ ~v~++t SNI~r is unabl~ to obtain such '
tra.si ascR Lsn:nt, th~ sims lnta.mstlon'ahd! ~ iural~ee! dy Se!!sr'to BuYe~ withM sNd t~rt+~ p~rbd ~n M~ form of ~ SNt~i s aifidwit, u~d BuY~r m~Y
ct~~r~after contset t~n~nts to eonfirm wch Info?mstbli: SNI~r ~hNl dNivM M?d ~ssiyn ali o~ipinal I~s to 9uy~r at elosin~. `
N_ LIENS: SNIK sAall. both ~s to th~ rMlty a~ p~rqnalty b~inq wld A~rwndK. turnifh to BvYK ~t thn~ Ot•closin~ ~n iftid~vit ~tt~stinp to tM ~Ds~ne~ unl~as
oct+Kwise provid~d tor h~r~tn, of ~ny tin~nclny sbUm«?ts, claim~ of IiM o~ pot~ntial INnorf k~nown to SNIK ~nd furth~r ~tt~st)n~ th~t th~r~ hsw been no improw-
~nts to M~ prop~rty toR 9Q d~y~ IromWlatNY D?~e~dlrq dat~ ofslosNq. lf th~ prop~rtr,has bMn i~np rowd wit6M said tim~, SNIM sh~ll dNiv~r rMsaes or wsiv~n
of ail m~A~nic's Ii~nt, ~x~cut~d bY 9~nird eonu~ctors, wbconvaeton. wppli~n, u~d m~t~rl~lm~o; in ~ddRion to SNI~i s li~n ~Hidavit wKina forM tM n~m~s of
r 1 s~cn p~~l contrac on~ wbeo~tr~eto~i, wppll~ and m~tMi~~tw/~. and' furtl+~r r~eitino tfi~t In [ae~ sY biHs~ o~ wprk to~~h~ woj~ce p?op~Y vMkh oould arw
aa a. b~sis for ~ m~chaok~ IiM haw bKn pNd or~will b~ pNd at cbsinp. ^-F t `
P~ACE.OF'C1091NGrCtos(nq_}hiill b~'f~Nd;hi;cou~y'.J~h~iifn propKtjr'{abe~~d.~t
~M of{Ic~ oi ~ttorn~y orotl+Kelosin~p~ntd~sipn~t~d Dy'SNIV.
J. 71ME:.T~m~ ia of M~ ~yt~nc~ pt d?k Cont~acft /~ny r~t~~nc~ M~dn fo dm~ p~riods of I~p.than 6 d~y~ ~bdl In tiM comput~tbn jhv~ot uctlud~ S~tu~d~Yi. Sun- -
d~ya and~lp~l holidaYS, ~nd sny- dmi P~?ioA providW foi hN~i~1 whicll sh~l~~nd c~ ~ Satu~day. Su~day or fpal ho1W~y ahall ~xt~nd M~:0~ P.hi. ot Mi n~ct full
Daisineu d~y. ~ ~ ~ . ~
K_ DOCUMENTS FOR CLOSING: SNIK sh~ll furnjsh dNd, m~eh~nie s lien ~Hidavlt, snqnm~nn of I~up, and at?y corr~cthr~ inttrum~ntt thst may b~ rpuirW in
connection wkh pNf~etinp tA~ titl~. BuyK thdl fure?ith tloal~p sutKnMt, morepay~, mortpap~ not~, ~nd fir?~ncinp st~t~nts.
L EXPENSES: Stst~ wrtsx ind docum~ntary atamps which rpulr~d to b~ aHix~d to tM Instrum~nt oi conwy~+c~. I~tMpibl~ tsx On ~~d r~tordtnp Ot pur-
ch~s~ monfy mortOp~ to SNI~r, ~nd cost of r~cordinp ~ny torr~etlw f~stru~rKnb sAall b~ p~id by SNIN. Oocum~nt~ry stamps to W~ffia~d to t!N not~ or not~s
ucur~d Dy th~ purchsse monM ~+lonpsp~, cost of r~tordinp tM dNd ~nd tioantinp st~t~nts sh~U p~id by BuyK.
M. PRORATION OF TAXES (REAL ANO PERSONAL): Tu~s fAdl b~ Drorat~d bas~d on th~ curr~nt yM/s tu with du~ dlowsnc~ m~ for maximum Mlowabl~ '
discount and hom~st~~d or oth~r ~:~mpHons if aliovw0 fo~ s~id Yw~- ~f closiny occun ~t ~ d~a w1Nn tM cur~Mt ywrs milisq~ is not tix~d, and eurr~nt y~~fs -
a+aaum~nt is avail~bl~, toc~s wfll a proraad bas~d upoe~ such ps~am~nt, ~nd th~ prior YNr's miltap~_ If curr~nc ywls ~ts~ssn»nt is not w~ilabl~, tMn taxss w11i ~
Da pror~ted oef Me prior yMi s ux; provid~d, howrv~r, if tMr~ an eompN~~d imPrw~n~nb on ch~ Prop~rey Dv J~nu~?v 1a of ywr of closinp, whkh improv~nts
w~ra not in ~xist~nc~ on Jsnuary~ 1st ot th~~prioi y~, th~n wc~s sh~11 b~ P~o?~t~d bas~d upo~ th~ Prior Y~s millp~ if~d at an ~quitWl~ ~f;!lMnMt t0 W prNd
upon b~twNn th~ psrti~a, tailinp which, rpu~st will W msd~ to th~ County Prop~rty AOPr~ia~i for aw Informat as~sim~nj tMcinp into co~sid~r~tion homptu0
•:empcion, if ~ny. How~v~r, sny tax pro?ation bas~d on ~n qtimaq may ~t rpu~st of ~ith~r party to t1+~ tr~nsaction, b~ wbswu~ncly r~~djust~d upon r~c~ipt of
c~x Dill on co~dition tAat ~ st~t~m~nt to thst ~ff~Et is wt ford~ in tM elosinp st~t~n~nG
N. SPECIAL ASSESSMENT LIENS: CKtifi~d, tonflrm~d ~nd ~~tffi~d fp~ci~l ~sqssmMt Il~ns as of d~t~ of closinp (~~d not ~s of d~t~ ot Gontracd to b~ paid
b~ S~il~r_ P~ndinq INns as of dat~ ot closinp ~hall W a~aum~d bY BuyM, Orovid~d, how~v~r, tha~ wl?~r~ th~ improv~m~~t A~s be~n wbst~~tid~Y comPl~t~d ~s of tA~
a~cs of Co~tr~ct, wch p~ndinp IiM sh~ll b~ consid~rsd ~s urtifi~d. eonfirm~d or ~atiti~d ~nd SNI~~ fh~it, ~c closin0, W[hupW ~n ImOUnt puN to th~ I~st ~stim~t~
I Oy rhe public body, of ifi~ a~esvn~nt for tb~ Improv~nL
O. PE RSONAL PHOPERTY INSPECTION, NEPAIR: SMI~r warrsna tf~at all m~jor ~ppli~nc~s. ANtinq, coolirp. N~cdica~. Plumbinq ayst~r*+s. ~nd machin~ry sr~ i~
j worR ing conditiw. oi S 3.yi vr:ar r tCo::.-.y. 5~~:: K!::s sx.^,:^~. lxr.a ina?xtlonf md_ nf 4.y :*.ma hy lic~r?s~d pKSOns dwHnp in tM rpair ~nd msin-
t~na~ce thKpi, ~nd sASll rport in nnitinp to SNI~r wM Irms /f tound nOt i~ workiny conditbn prior to ukinp ot powssion Merwf, or 6 dsys prior to clwinq.
wt,~cn~ver is first. Unl~ BuyK rports faiturp within wid.Qrrbil~ M sl~l b~ ds~mW to hav~ wsiv~d SNI~~'s w~r~anty st to failur~s not rport~d. V~lid rpo~t~d~
~ ~a~iures sh~11 b~ ear~cbd ~t SNI~i s cost with tunds Mer~for ~semw~d ~t closlnp_ SNIN prNS to provid~ acc~n for i~sp~ccbn upon nasonsbl~ ~otiea
P. R~SK OF LOSS: If th~ imp~ov~rn~~ts ar~ dsmsp~d by ti~~ or och~r c~suNty prior to etosf~q, ~nd com ot r~storinq f~mt dou not ~xceid 3% of Me AsNSS~d
V~tvetian of th• improvem~nts so damaqW, cort of r~storation sh~ll W ~n oblipstion ot Ms Stll~r ~nd closin0 ~h+~ll ProceW pursu~nt to th~ t~rms o ontr~ct
w~rn cosc th~r~for ~scrowW at closinp- 1~ tt~~ ~v~nt M~ coss of r~pair or r~fto~~tiOn l~ccNdf 3% O~ t1~~ ~sMSS~d v~lu~tio~1 Of thf imprOVUnMtf f0 dam~q~d, BuYK
~hai~ hsvt th~ option ot eith~r t~klnp th~ Drop~rty N it. top~tA~r with ~ith~r tfi~ ~aid 3% or ~ny inwranc~ prxa~ds paY~~~ by vinu~ of wch lo~s o~ damsp~, or ot
canceli~p Con[r~tt snd iec~ivinp rotum of dpositls) m~d~ Mr~und~~- - -
Q MAINTENANCE: Notwiths[~ndinp provisions ot Stsnd~rd O, b~tvw~n Contract dsto and closiny dat~, perwnN prop~rt~r refNr~d to in Sundard O sn0 red
prooercy. IneluOl~p Nwn. shrubb~ry snd poo1, ff any, shNl b~ m~int~in~d by Ssll~r In eonditions tlf~y exiat~d ~s of Contrsct dat~, o?dinary nr~ar ~ifd t~K ~xcpt~d.
a PROCEEDS OF SALE AND CIOSING PROCEDURE• Th~ dNd shall b~ r~cord~d upo~ cl~~r~nc~ of tunds ~nd wid~nc~ of titls continu~d at 8uy~i s ucp~nf~,
co show titl~ in BuyN, without an~ ~ncumWsnc~s or chsnp~ which would r~ndK SNler s titl~ unm~rktt~bl~, irom the d~t~ of th~ last avidu~c~ ~nd th~ ca~h pro-
ceeds of s~l~ st~Nl b~ ANO in escrow by S~Il~rs attorn~y or by wch otMr ~sc~ow p~nt p m~y b~ mutu~lly prNd upon fo~ ~ p~riod of npt tor?q~r tA~n 5 d~ys
t..~m and ~tt~r elosinp d~t~. If SNI~r's dtt~ is t~nd~r~d unmNl~c~tsbN, Buy~r ~hall withl~ ~aid 5 d~y p~rlod, notify SNI~c In wrltinq Of M~ d~f~et ~nd SNIN shNl
n.v• 30 d~ys irom d~t~ of r~c~lpc of wch rwtiiieatbn to cun pId d~i~ct_ In th~ ~v~nt SNI~r f~ils to tlmN~ cur~ s~id d~t~ct, a~l monf~s psid h~r~undK st?~II, upo~
~ ccan dNnsnd th~r~for snd withln 5 d~ys tfi~rNh~?, b~ ~~turn~d to BuYN +nd, slmulq~~ouMY ~~P+Vm~nt, Buy~r sA~ll v~c~t~ tt~~ pr«nis~s and r~con-
,e~ cne prop~rty ln qu~stion to th~ SNIK by sp~cial warr~nTy dNd. ln M~ w~nt BuYN f~ils to mdc~ timNy d~rnand for r~tund, h~ sAall tak~ titl~ ss Is, rwivinp ~II
~~an2~ ~yainrt SNI~r af to wch l~t~rv~niny d~f~ct ~xcpt M m~y W av~il~bl~ t0 BuyN by virtu~ of warranties, if any, cont~in~d in d~ad. In ifie ~v~nt ~ portion of th~
p•~rch~3f pric~ is to W deriv~d from Inaitutiond fin~ncinq or r~-financiny, tl~~ rpuir~rrNnts of th~ I~ndiny i~stitution ~s to D~~. time snd Oroc~dur~s for clostr?p.
an~i for disburs~m~nt of mortpsp~ proe~sds, ~hNl eontrol, anythiny i~ Mis Contr~ct to tM contr~ry notwithst~r?diny. VrovidW, howevK, tt~at th~ SNI~r sANI hav~
cn, riQnt to rpuir~ (rom wcA I~ndinq in~titudon a[ closinq a commitm~nt that it will not witAhoid dlaburt~m~nt of mortp~p~ procNds as a rawlc oi a~y titt~ d~f~ct
•ttribut~Dl~ to Buy~r- mortp~po?.
S. ESCROW: Any ~serow p~nt r~e~ivinp funds is au[horiz~d and sprNS Dy aeupw~e~ tMr~of to D?~Dt~Y d~t and to hold s~m~ in wuow ar~d eo disburs~
ums wt~j~ct to cbu~nc~ th~r~of in accord~nc~ with Lrmintd condttiw~f e} Gont~at4'~~flpr~ of cl~ar~nu of funds sh~ll not ~xcus~ pwfotm~nt~ by th~ BuyM.
~ i n cne ev~nt of doubt as to ~is dutip or tiabiliti~s und~r th~ provisbns of t1~ls Contraet, th~ yerow ~pK?t may ln Ais wN discr~iion, co~tinu~ to Aold th~ mo~ip
r.n~ch ar• tb~ suD~~ct of this ~scrow until th~ p~rtiM mutu~lly prM t0 th~ difbu?NTMt 1~1~~p}, or until • judqm~n~ of ~ court ot COR1p~IMf jUI1fO1Ct10I1 iha11
~ d ece~min~ th~ rphts of th~ panies th~r~to, w h~ m~y dposit sll ttM moni~s tAM hMd punuant to this Contr~et with •tM Gl~rk of th~ Ci~cuit Coun of tM County
nav~np ~urisdiction of tA~ diiput~;.~~d upon notifylip NI p~rtiN £o~cern~d:of such activn, all Nability on tA~ paK of t1K escrow ~~tshNl fullY tMminat~, ~xcpt
to th~ ~xqnt of ~ecountin0 tor ~ny monNs thir~to~Or~ dNiv~?d out of~scrow. If ~ lie~ntd rul at~t~ brok~r, th~ uc?ow» will eomplY with provisiom of S~ction
t?5.25 l11 (e1, F.~., M.am~nd~. In tM ~vM[ of any wit b~twNn Buy~r a~d Shc~r whK~in th~ ~ow p~nc is mad~ a Party bY virtui of aetinp n wch Mcrow i
.~snc n~r~und~r, or In tM~ M~nt %oi- ~nY w{t wihKNn iwow-~pM~t iiit~rpN~ds th~ wq~et matt~r of thfs Mcrow, tM Ncrow sq~nt shall b~ ~nikt~d to r~covM • ~
rs~wn~bb ~nomry's fN ~nd eosts incurr~d. ~id fNS ~nd ea~ts to b~ ch~rq~d and sssw~d ~s court eosu In twor of th~ prwr~illnq p~rty. All PartiM prN th~t tM
~sc~ow p~nt rhall not W li~bl~ co sny party or p~rwn whompwrK tor mbdNivM/ to Buy~r or SNIN of moni~s wb]~ct to this acrow, unlna such misdNivM/ fh~~~
b~ du~ to willful b~~ch oi thfs Contr~tt or yrofs nplty~nc~ on th~ p~rt of tA~ eerow p~nt. • • - '
T. ATTORNEY FEES ANO COSTS: In conn~ction wlth ~ny Iltlq~tbn ineludlno"~ppol~tl ProcNdlnps ~riNny out of thls Contt~ct, th~ D~M~~~~~Y P~rtY ~M~ a
s~tltt~d t0 r~cov~r i~pOMW~ ~ttO~n~y ~ f~N Md tOSti
U. OEFAUIT: If Buy~r i~N~ to pMform this Contract wichln tM tlm~ p~ctft~d, tlf~dpofit(s) Wb bY 11~~ BuyM ~fo?M~fd mn/ b~ ~~IMd bY or iw th~ ~cta~nt
ot S~II~r M Ifqu{d~t~d d~rnspN, comidMatbn for th~ uc~cutlon of tAN Contr~et ~nd I~ full wttlKn~nt of ~ny cl~imf; wh~rwpon Nt partip ~11 W rNl~v~d of
•i1 obllystbns unA~r Iha r.ORffKt; or S~ll~r, ~t hN optbn, rt~sy D?oeNd ~t Iwv Ol Iw puky so N+foru his IpN riphts undN thN Contr~tt. If, for any ~wwn oN?~r
cr.~n failur~ of SNI~r to r~nd~r hN tttl~ m~rt~taW~ ~fw dili~nt ~ffori, SNI~r f~N~,~rip~~cts or r~fu~u to pMfw~n [Ms Contr~ct, tM Buy~r may wdc sp~cNk ~r-
f O rmanC~ or N~ct to r~t~iv~ th~ r~turn of hb dposit(s) wtthout tAK~bY wsivit~0 ~~y ~ction for drnpN r~sultfnp from SMtr's brMCh.
v. CONTRACT NOT RECORDABLE, PERSONS BOUNO ANO NOTICE: - N~itM~ tl~b Contr~et nor anY notk~ th~~~ot ~hdl b~ r~co~d~d In ~nY Dublie r~corda.
Tni~ Contr~ct th~ll bind ~nd inur~ to th~ b~ftt oi tl~~ D~~ti~s h~r~to ~nd f1Nlr wcc~on in ln~~r~s[. Wh~n~v~r tM eont~xc p~rmin, tlnqul~r f1?~11 Inc1uM DIUrN ~nd
on~ ~nd~r shNl Intlud~ dl. Notie~ 9irM b~/ O~ to tM ~tto~My fo~ ~itlfp P~rty ~hNl b~ ~s ~tt~ttiv~ p It ~Iv~n bV o~ to s~ld 'p~ny.
W PRORATIONS ANO INSUHANCE: T~xN, ~ss~am~nt~, r~n[, i~ar~st, inwr~nc~ Md otA~r ~xpMw ~nd r~v~nu~ ot faid propNty iANI W Pror~t~d a of d~t~
ot ciofin¢ BuY~r ~hNl hav~ eh~ oOtion of tNcinp ov~r ~ny ~afstino polielN of Inwr~ne~ on M~ Prop~rt~l. If MwmaDl~. In wAfe1~ wMt pr~rnlums shall b~ pror~t~d.
Tn• cph closlnp ~hdl W_ incrNSW or d~cr~awd • m~y W~quir~d br wW pror~tbns. All r~tp~ne~s in Co~tr~et to pror~tbns r of d~t~ ot elosl~y wi11 W
a~.m~d "dau oi occupancy" If occup~ncy ~cAY Prlor to clori~+~. YnINS otn~?Nlr p?ovld~d for ti~r~in.
x CONVEYANCE: SNIN•~hNl eonvh? ti#I~~o~tM ~fotwi~~~l prop~rty b~{ ititutorY w~n~ntY 4~ ~ubj~tt onlY ro m~ttKS eontaln~d in P~r~prsph V11 hM~of.
F~rsonN DropNty thlll~ ft tA~ ipuNt ot ~uyM~ b~ cOAV11/ 1~ M wf~olu~E~ YNI of sN~wlth w~?r~nty ot tltl~, subj~ct to ~utA IIMf M maY b~ otM~N provld~d
~ for h~r~in. ~ ~ ~ • ~ ~ .
! OT?~EA AGREEMENTS: NO •p~bi or pr~wRt ~pr~~tt or ~pr~~utbnf r+~~l W W~~~ ~+D~ u+Y of ~~'P~~M•M~r~to unl~ Ineorporat~d In
; :n;~ Con[r~ct. No modHiution or ch~np~ in Mb Contr~tt shNl b~ v~lld Ot b~ndffp UpOf1 M~ p~rtiM uMM~ 1N w~1t~f?Y• ~x~cutd O M~ v~rtl~s to W bou~d th~r~•
~ NK
~ 6l2~ PAUE ~ ~ 1
_ . _ : - - . - _
~