HomeMy WebLinkAbout0973 tViDENCE OF TITLE: I11 An ,,1~>t~oc? ul ~~Ue ur.ry,arr~1 nr bruuyh~ c~uie~~~ t,y ~~r~wtaUle anu ra~su~~i.nn~~.~~•
~+~~5[~~+J I~rin) pufpu~i~r~ W bc: J~l J-CU131~ SY'~~~'~ (~I lh! ~nSIfUtTt[fltf Ji!@Cltl~~j h11! W Ptq~MIIY t~CU~II~ • Ih~ PyV1~C ~NCOTJf O} ~hd WU~II~ WAa~~in P~ul~lly
~ wcated,'t~rou~h ENettive pate and wn~ch ahau ~nce with tho e~~liest pubt~C recu+ds, u+ sucl? tat• e st m~y t>e cvitonary 1n tha county. Selle+ shall
cunvey a~~~.~rAetab~e Ude, subject onty to I,ens, encumGranc.tt, exceptiuns o~ qu~liliCStio~s set (orth ~n Contnct and those whicA sAa11 be diichuqed by Sa~ter at o.
int~re ~IOSin9 Marketable t~ue snau br dete~mmr~i according to app~icable 7iUe Sa~dards ado~ced bv authonty ol The Florid+ B~r snd in ~ccordance w~tr, Iaw. '
Upc~n closing of this trsn~Ction thr abstract ihall beco~~e th+ ptppe~ry Of Buy~~; tubj~Ct to the uyht ot r~qntipA tM~~of Oy tirft m9FtQey~e until fully paid; ur (2)
~ t~t~e ~nturance cammitment issueA hy a Florida Iicensed ti1t~ insut~r sgresinq to iisu~ to Buy~r, upon recordinp ot ths d~ed to Buy~r~sn owna~'; policy of titl~
~nsurance ~n e'he amounl ol ~Ae purchase p~ics, insuring Huyer's tiik to Prope~ty, sVbjett only to liens, Mtumbr~nq~, ~xppptip~i O~ quatlfiCatiOnt ttt torlh in Ihif
Co~t~sct a~d tnosa which sh~N be discAarged by Seller at or betore cto~ing. Buy~r shstl haw 30 dayt, if sbstr~ct, or 5 d~?s, ii titl~ commitment, from date ot
recavin9 ev~de~ce oi tiN~ to ex~m~+x same, U titls is found d~f~ctire, Buyer shsll, within 3 d~yt t1?ertafN~, ~otity SNler in vv~iti~ sp~cityinp dafect(sl. ii aid
~fefectlt) render titl~ unmarkttsble, as to item 11! hereinebovs or uninwrable as to it~m (21, Selltr will h~w t40d~yt from rscelpt ol notip within which to romow
:a+d d~fect(s1, and if Seller is unsuccess(ut in ~emoving thtm within sNd ti?r:e; Bvytr sl+~ll havs tM optlon of ~ItM~ ~cCtptinp the title ss it than ii, or demandinq •
+efund of a.l monies psid herounder which shatl forthwith be ~~turn+d to Buysr ~nd tMr+upon Buytr ~nd SHkr ~Iu11 b~ rekated, as to oas ~noth~r, of sll ~urtM~
~~bl~gat~ons under Conttati; howswr, Seller sg~ees that S~II~r v~rili, if titte is found to b~ unmsrkctN~w or unlnwrabN, u~ diliyent ~ftort td corract tRe de}eals) in
i~tle within tha time provided theretor, including the brlnqinp Ot necetsary suits. If a title aolity is Winy fur~izhed, Buyer hss tM rpht to require the Seller tA
d~livtr an owner's marketability titla policy provided Buyer pays any ~dditi~nal ch~rq~t a~d m~kes reqw~t tMrsfor within ~ dsys ~1tl~ Eftsctive Oate.
e. PURCNASE MONEY MORT(iACiE; SECURITY AOREEMENT TO SEII~R: Th~ purchsi~ mon~y nots and mortyap~, if any, Mall provid~ tor a 30 dsy grsoa s
c»r,od in tha event of datsult it it is a tirst mortqs~ ~nd a 15 da1? pnce psriod ii a seco~~d ot tasse~ mortyp~; th~11 prov+de for rFpht of prep~yrrwnt in whote or in
part without penalty; shall ~ot p~rmit sctel~ration ot inter~st adjuttrt+ent in svent of resal~ ot P~op~rty; ~nd tM ~1o~tqps, nott snd ~~cu~ity aprsement tha11 b~ ~
~~th~rwisa i~ form and rn~tent rtquired 6y Sellar's ~ttor~tY: P~oY~d~d, howevtr, 5~11~? may only rpuln ctwat cuttort?wlly found in martqp~~, mortp~y~ nons.
~nd s~cur~ty agraements gerterally utlliied by savi~~9s and los~ institutioos, or stat~ or n~tiona! bar+ks ~ocated in th~ county wh~nio Property is loc~ud. TM mor~yspe
tihsil rpwro ~11 p~ior tiens ~nd encumbrancys !o be lcept in good stsndfAq ~nd totpid moditiqti+m~ M o~.tutwa adv~np~ yr~d~r prio~ mo~t4pe(sl. Ail Peno~~alty ~
rx~n9 conveyed will, at option ot $eller, be subjace to the tien of a c~cunty sgraem~nt ~nd ~vid~noed by ncordW linsncind ststerntnts. ~
C. SURVEY: Buyer, al 8uye~'s expe~se, within time allowed to dNjr~r evident~ of tltle ~nd to ~x~miM t4rN, may I~v~ Prop~rty surwy~d and c~rtifiW by a ~
~e.~~stered Florida surveyor. If ihe survey shows any enuoschment on pro~rty Q~ tMt improvemfnti h~tNld~d to b~ b0it~d On PtOptrty en tec! ~nuMCAon setbeCk
~mes, easements, lands of others, or violate any ~astrictic~s, Contract cownanq o? appliqple ~owr~mentil ~pulationt. th~ ts~ri~ ~hdi be ueated as ~ titl~ defec~. ~
J. TERMITES: 8uyer, at Buye:'s expense, within time allowed to dsliver avid~nce of title ~nd to ex~min~ sams, may h~ve Prop~rty intpected by ~ Flo~ida Cert}fiad
~est Cont~ol Operato~ to determirte wnether there is any visible ~ctive t~rmite iniytation o~ visible txi~tl~g dart?~yt trom tsrmit~ intettation in th~ improvemsntt. If i
iuyer is ~nformed o( aither or both oi t1~a foregoi~g, BuYer will hsve 4 dsyt trom datt of vr~~tt~~ ~otips tA~nof or ~ days afier sal~ction of ~ oontrscto~, whichav~r
~ccurs f~~st, w~thi~ which to hs•re a1i damages, whethar visibls or not, inspetted and estima:ed by a liant~d buitdiny or 9tneral contractor. $~Iter shsll pay valid
-osts of treatment a~d ~epair ot all dsawge up to 2% of purchsse price. ShouW such cotts exaW thit Mwunt, 8uyar sAatl Asve the Option of cancelli~g Contratt
~~thin 5 days atter receipt of co~tractor's repair estimate by piviny wtitten notep to Sell~r or 8uyar may elect to proa~~d wiM tM tnnuction, in whith ewnt
3uyer sha11 ~ecei~e s cre~it at closing o) a~ amount equsl to the totat of the trt~trtwnt and rspsir ettlmate not in axcefs ot ~%ot th~ purcA~se prioe. "te~mites" ;
han be deemed to inctude all wood destroyin9 or9anisms required to be reported unde~ th~ Flotida P~tt Control Act. a
INl3RESS AND EGRESS: Selter warrants that there is inyress and p~~ss to Proptrry sutficNnt for tM intended uss ss described i~ Puspraph VII hereof, titte to ~
vnech is in aeeordanee with Standard A.
LEASES: Seller sha11, not less than 15 d~ys prior to closeng,'tu~nish to Buy~r oopiti ot alt vv~itt~n Nssts and sstopp~l letterE from e~ch tensnt specifying the
+ature and du~ation of the tenant's octupancy, rental rates, advsnted reni snd ieturity depotitf p~id by ttnsnt. In th~ eveM Sell~r It unsble to obtain such lettet
rom each te~ant, :he same ~nformat~on shall be tu~nished by Seller to Buytr witRin ssid tlms psrlod ln th~ form of ~ Seller't atfidavit, and Buyer may lhereaf Isr
:untact tenants to conf~rm such ~nlormation. Seller shall,'at clOSing, daliver and sssiyn all ariyin~t Mas~f to Buysr. .
i. LIENS: Setier shali, batn as to Property and Personslty being sotd hereunder, furnish to 8uyer at time of closin9 an aitidsvit sttesting to the absence, untess otherwite +
~rov~ded for herein, of any tinancing s[atements, claims of lien or potential li~~o~s known to Seller and further attestirg Mat there hsve b~en no imptoveme~ts or repairs
o P~operty for 90 days immediatety preceding date of ctosing. H P~ope~ty has been improved, or repsired within said time, Sefler shall deliver releases or waivers oi
nschanics hens, executed by a11 general contractors, subconiractors, wppliers, snd mst~rislmen, in sddition to Sslkr'sli~n affidavit »ttleq fortA th! namesof slt suth
~eneral contractors, subco~t~actors, suppliers and mste~i~lmen snd fu~th~r rccitin9 tAat in fact all bills 1or work to Property or Personalty which coutd serve as a basis tor
~ mechanic's tien or a claim tor damages have been paid or will be paid ~t tlosing.
PIAGE OF CLOSIIYG: Ctosing sAa11 be held in the county wherein Propetty is toqt~d, at the offia of th~ ~tto~ney, w othsr closinp sgent d~siynsted by Seller.
. TIME: T~me ~s of the esse~ce oi this Contract. Time periods herein of Isss than 6 days shsll in the computatio~ szclud~ Saturdays, Sundays ~nd Isy~?1 holid~ys, a~d
riy time penod prov~ded for herein which shail end o~ Saturday, Sunday or IeQal holidsy shsll exiend [0 6:00 p,m. ot the nsxt businest day.
DOCUMENTS FOR CLOSIN~i: Selter thall turnish deed, bill of qle, mechanic's lien effidsvit, auipnrt~nti ot I~~p=, ~nd sny oprroctiw inlttumsnts tAst may
.e repu~red ~n connection w~th perfectir?g the title. 8uyer sha~~ tur~ith closir?g sta[~rtrnt, mo?tga~e, mortp~ge note, security ~graeme~t, ~nd finsnciny ststements.
C. EXPENSES: State docurmntary stamps which are requi~ed to bs a(fixed to the inftrument ot ooriv~ysnee, intsnqibb t~x on and ntordin9 ot purchsse mo~ey
nortgage [o Sener, and cost of record~ng any corre~tive instruments shsll be paid by Selter. Documentary stamps to be aftixed to the purchsse money mortgage,
ost of record~~9 the deed a~d tinanci~g statements shall be wid by Buysr_
?RORATIONS: Tazes, asussme~ts, rent, interest, insurar~ce and other expenset and revenue of Prope~ty shall be prorated throuQh day p?ior to closing. Buyer
nait haye the option of taking over any existin9 poticies of insurante on Property, if assumable, i~ which event premiums shall be proroted. Cash st closing shall be
~craased or deaeased rs may be required by said p~orations. All prorations witl be mada tArough day prior to occupancy if octupsnty occurs bafore closing. Taxes
hali be proraced based on ihe cur~ent yeai s tax with due allows~a made tor_mazimum altowsble dexount, Aomeste~d end other exemptiont. (f elusi~g occurs at a
~ate wfien ~he current Ycar's mitlage is ~ot tixed, and current yssr's sssessment is avsilabte, tsxes will be prorated bastd upon such suessment ind the prior year's
n~ilage. If current year's assessmenc ~s not availatrle, then taxes will M prorated on ths prior yes~ i tax; provid~d; how~vri, it tlk/e an opmpl~ted improvements on
•roperty by January lst of year of closing, which improvements were ~ot in existence o~ Jsnuary tst oi the prior year, then taxes sha!! be pror~ted based upon ths
~r~or y~ar's mi~isge s~d at sn equitable asseument to W agreed upon betvMtn th~ p~rti~~, tailin9 which, nqwtt vrill 6~ cmd~ to tAe Lounty P~op~rty Apprai~er fot
n informa! assessment tskiny into Considerstion sx~mptions, i! ~ny. Any tax ~xoration bs»d on an ~stirr»t~ may ~t r~qwat of ~itMr 8uyaror Ssllrrb~ tubssQuently
~adjusted utson receipt o~ tax bill on condi[ion that a ststement to th~t eftect is in the ctasinq ~tatement.
~1. SPECIAl. ASSESSMENT LtENS: Gertitied, confirmed and ratified specist sssessment liens as ot dste of closiry (snd not as ot Eftective Date) are ro be psid
~•y Seller. Pending liens as of date of closing sha11 be auumed by Buyer, p~ovided, however, thst ii the impravtment has bee~substsntislly completed ss of E(tective
~ste, such pendmg lien shall be considered ~s certified, co~tirmed o~ ?stit)ed ued SeINr Sh~ll, ~t clasirg, b~ cAsr9ed an amount pu~l to th~ Is~t estimate by th~
vblic body of assessme~t for the improvement_
t. INSaECT10N; REPAIR AND MAINTENANCE: Setler. rspreantt that, as of 10 days Wio~ to cbsiny, tM roof (ineludiny tn~ (qci~ and toffi[~1 snd walb dn not
ave any v~s~bte ev~dence of leaks or damage and thst the septic tsnk, pool, all msjor appli~nops, heatinp, tnolinp, skctriul, plumbirq fystem~ ~nd machinery are in
ro~kinq tond~t~on. Buyer may, st Buyer's expense, hsve inspection mada of said itfms by an spproprt~t+ly lianfsd penon d~alinp In tM construCtion, repair snd
ia~ntena~ce thereof and shalt report ~n writinq to Selle~ such items thst do not mset tht abov~ r~presrntetions, top~thtr with tM oost of cornttinp same, prior to
ccupancy or not tess than 10 days prior to ctosing, whichever otcurs iirst. Unless Buyer reports suM deficiencies within pid period Buyer shall be deemsd to have
~awed Seller's repreu~tations as to deticiencies not ~eported. In tbe event repairs or nplsamencs xe rcqulred, Selltr sfialt pay up to 3%ot the purchase price for ~
~ch repairs or replacements by an appropriatety licensed person, However, if ths wst tor such repsi~s ot replsoements exasds 3!6 of the purchase prioe, Buyer or
eiler may etect to pay such exctts, lailinq which either pa~ty may canoel this Contrsct. In tAe eveni Selkr is unabl~ to Corr~ct tI?e dslictencies prior to closing, ti~e ~
~st thereof sha11 be paid i~to escrow at closing. $e1Mr agrees to p?ovide utilities t~hria for inspectionf upon re~s,~~ab1e notioe. ~tnwen Et(ective Date and the
'asmg, $eller shsll maintain Property and Personalty intludinQ but not limited to the Iswn and shrubbery, in the carnditioo Mrtin apr~fsntKl, Ordinsry wear and ~
~ar exctptecf. 8uyer sha11 be permitted access for inspection ot Aroperty prior to closing in order to oonftrm compli~~te her~with.
RISK OF LOSS: If the improvements are damaged, by Iire or other casualty prior to closinp, an3 oosts of restoring same do~s not exped 3%of theassesssd ~
a~uation of the rmp~overtwnts so damaged, cost of restorai~on shsll be an obligation of the Sellu and dosiny shall proceed pursuu?t to the terms oi Cpntract with
~st theretor esc.owed at ctos~ng. In 1he event the cost of repeir or reftorstion exoeeds 3% of tM asteifed val~ation of the improvements so dsms9ed, Buyer shatl ?
ave the option oi e~ther taking Property as ~s, together with eithsr the ssid 396 0~ any i~surance proaeeds paYable by virtue of such loss w damsge, or of can-
r11~ny Contract and recewiny return oi deposrt(s) ~*?ade hereunder.
. PROCEEDS OF SALE; CLOSING PROCEOURE: 7he deed shall be ~ecorded upon cleara~ce oi funds and evid~nce ot title continusd at Buyer's expense,
~ s++ow t~tte in 8uyer, without any encumbrantes or change wfiich woutd render $eller's titk unmirketsbta from ths date ot the fsst evidents, and t1x p~oaeds
f ihe ssle shail be hetd in escrow by Seller's attorney or by such other escrow agent as may be mutua!!y agreed ~pon tor a period of not tonger tha~ 5 days from
,d after ciosing date. if $eNer's title ss rende?ed unmsrketable, Buyer shall, within said 5 dsy period, notify Selkr in writir?p oi tlu det~ct and Seller ehall have 30
ays trom dat~ of retefpt of such notificat~on to cure said defect. In the event Setler tails to t~mely Cure said defect, sll monies paid hereunder shall, upon written
~mand t~ereior antl w~thin 6 dayt thereafter, be retumed to Buyer artd, sirtwttanwusly with ;uth repaymenl, 8uyer shs~t vsute Putptrty sn~ reconvey same to
atter by spec~a~ warranty deed and return Personalty. In the event Buyer fails to make timely derrynd for refund, Buyer shalt tske titk as is, waiviny all righu
~a~nst Setter as to such intervening defect exupt as may be avail~bte to Buyer by virtue of aarranties, if iny, contain~d in the deetf. In tF?e event a portion of the
~rchau pr~ce is to be derived from institutionsl finsncing or r~financin9, the requirements of tAe kndiny institution ss to plsoe, time oi day snd proadures tor
os~~g, and ior disbursement of mortga9e procrads, shaU rnntrol, anythiny in this Contrsct to the contrsry notwithstanding. Provided, howave~, thst Selkr shall
~,re the nght to require from suth lending institution at tlotinp s commitment that it will not withbold disburs~me~t of mortgage procreds as a rssuit of ~.ny title
:lect attributable to Buyer-mortgagor. 7he eulow a~d Closing ptposdure requited by this Standi~d may bs waived in the ~vtnt ths attorney, t+ile apent or closing
te~t insures aqainsc adverse mstters pursuant to Section 627.T841, F.S. (1983), as amenefed. ~ -
. ESCtiOW: Any escrow agent ("AgenY') ~eceivinp tunds or equivatent is authorized and sprees by sraptaace thereoi to deposit prprtlpt(y ~nt! to hdd ssme in
;aow an0, subject to ctearante, to d+sburse ssme in icmrda~a with te:ms ~nd corx#iti~ns of CoAtratt. F~ilure of clearante bt tunds shall not excuse performance
~ Buyer. In tne e.ent of doubt af to Agen!'s dut+es or Iiabilities under the provisior? of this Contract, Ap~nt may, i~ A~enY~ sole diwetion, Continue to hold the
,bject mstter of th~s eurow until lhe partiei mutvally agree to the disbursement thereOf, Or until a iutlprtxnt Ot a court pf oorftptisni jurisdittioa shsll determin~
+e .,ghts af tAe psrti~t thereto, or Ayent m.ay Qeposit same with the clerk of the circuit court havi~9 jurisdiction of the disputs, ~nd upon notifyinp tll pa?ties
~ncerr.ed of such action, all liability on the part ot Ayent shalt fully terminste, ~xatpt to tne ext~nt of ~untirq for any ittrtls thetstotore delivered out of
:row_ If a t~censed real ettste broker, A9ent will compty with provitionf oi Ch~t~r 475, F.S. I i983), af amended. In the evs~t of sny suit between Buyer and
~Ier wh~re~n Agent is msck± a party by vi~tue of act~ng ss Agent iwreu~d~r, or in tAs event of sny suit wh~nin Agent ini~rpleads the suhjett mstter of this escrow,
~ gent :hs11 be entitied co recover reasonabte attorney's tees and costs inturred, ssid fe~s and costs to be thsry~d snd ats~ssed as cqurt coftt in favor of the prevaili~Q
irty. AIi parties agree that Agent shal: not be tiabte to any p~rty or persop whomtoever for.misdelivRry to Buyer or Sell~r of itemt subjeci to ihis esc!ow, unlesf
v•~ ^'+~~~~~Y sh~11 be due to willtul breach of this Gontrsct or yrou nsyti9enos on the psrt of Apent.
d. ATTORNEY FEES; COSTS: In any Iitigation arising out of Contract, the prevsilin9 psrty shs11 be entiiled to rscovtr resson~bl~ ~ttor~~y s fe~t ~nd costs.
FAtitIRE OF PERFORMANCE: Ii Buyer isi~s to psrtorm this Contnct within tM tims tp~eifitd li:~tledir~q psyrrhnt of sll depotitt Mreunderl, the deposit(s1
~~~d ~y Buyer may be retained by or tor tha account of S~Iltr ss liquidated d~rtbqes, oonsider~tion for the ~xecutior. ot thif Cont~act and in fu10 settlenKnt oi any
~~~ms; whereupo~ Buyer and Selter sha11 be relieved of all obligstions ~~ndsr Contr~ct; or Seller, at S~iler's optio~, msy pruaed ~t ?aw or iq e~uity to enforce
~i~?'s 1pN r~phts und~r tAis Contrsct. If, for ~~y teason oth~r than fsilure ot S~IF~~ to mske Se1Nr's titl~ market~bls ~tt~r diliyent effort, Selter t~ils, negtects or
~,fuxs ta perform this Contract, ~he Buyer may teek ~ptcific qrformana or ~Met io ?eaiv~ the nturn of Buyer's dpotit(t) without tMreby waiviny sny qction
~or damages resu~t~rg trom Seller's breach.
o CONTAACT NOT RECOHDABLE; PERSONS BOUNO; HOTICE: Neither this ContrecT nor any notice thereof shsll be record~d in ~ny pu~4ie t~cotds. This ~
a~ntract shail bind ind ~nure to the benel~t of tAr ps~teas hereio and their successon in intereit. Whenev~r the oonte~cc p~rmits, iinyular shNl include plural and one
nder shall ~ndude alf. Notix prvtn by or to the sttornaY tor an; pa~ty ~halt be as ~ttettiv~ as if yiven by or to qid pMty.
CONVEYANCE: Seller shs~l conrey tit~e ta Prop?•~v by ftatutory wur~nty, truftw, ps~sonsl reprtf~nti•' ~ or yusrdiar? de~d, n appropriatt to the ststus oi
:tier, subject only to rtutters contained in Par~gr~~ 11 Mreof ~nd thos~ oth~rwis~ ~cesptad by Buya. P alty ~hsll, at r~qutst of 8uyer, b~ tpnveyed by an
~to~ute bilt of sate w~th warraniy of title, subjact to ~ matters as msy be otherwiw provid~d fo~ f?erein.
ooo{{{~~~~ OTHER AGREEMENTS: No prior or preu'nt agrsertr_nts or representstiont shall be bir?dinp upon Buyer or Seller unle:s encluded in this Contr~ct: No mod~tication
4~/`, cha~qe. m th~s CAr,t~a~t 4ha11 bR va~~~1 b~~.t~n~ unnn iht partiei unlat in writinp ,~nd ~xecubd by ths psrty or ~artits to ~c hcivnrl thereby. ~y
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