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L. PRORA710NS: Tazes, assessments, rent, interest, ~nsurance and other expenses and reve~ue oi the Property shall be prorated through day prior to ciosmg, d
Buyer shall have the option of taking over any ex~sting policies of insurance on the Property, it assumable, in which event prpniums,sbal~ be,prorated. Cash at ~
closing shall be increased or decreased as rnay be req~ired by said prorations. All prorations will be made through day prior to occupancy ii oCCUpancy occurs
~efore closing. Taxes shall be prorated based on the current Year's tax with due atfowance made for maximum altowable discount and homestead or other exemp-
c~ons if atlawed for ssid yea~. !f closin9 occurs at a date ?vhen the current year's millage is ~ot tixed, and current year's assessment is availabte, taxes will be prorated
based upon such assessment and the prior year's millage. If current year"s assessment is ~ot availabte, then taxei will be QrOrated on the prior year's tax; provided,
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tiowever, if there are completed improvements on the PrupertY by January tst of year of closing, which improvements were no: in existence on January lst o( the
prior year, then taxes shall be prorated based upon the prior year's mitlage and at an equitable asseument to be agreed upon between the parties, Sailing which,
request will be made to the County Property ApPraiser tor an informal assessment taking into consideration homestead exemption, if any. However, any tax pro-
rat~on based on an estimate may at request of either Buyer or Se!!er be subsequently readjusted upon receipt oi tax bill on condition that a statement to that etfect
~s set forth in the closing statement.
P.L SPECIAL ASSESSh1ENT LIENS: Certified, confumed and ratified special assessment liens as oi date of closing (and not as of Eifective Date) are m he paid
by Selter. Pending liens as of date of clos~~~g sl~all be assumed by Buyer, prov~ded, however, that if the improvement has been substantially completed as of Etfective
Date, such pending lien shall be cons~dered as certitied, coniirrned or ratif~eci and Setler shall, at closing, be charyed an amoun[ e4~al to the last estimate by the
Nublic body of assessment tor the improvement.
~1;. INSPECTION: REPAlR AIVD f47AINTENANCE Sefier represents that, as of ten I10) days prior to ctos~ng, the roof, f~ncluding the fascia and soffitsl, and
walls do not~have any v~s~ble evidence oi leaks or darnaye and that the sepiic tank, pool, all ma~or appliances, heating, cooling, etectrical, plumbing systems and
machine~are in working conditwn. Buyer may, ai Buyer's expense, have inspection made of said items by an appropriately licensed person dealing in the con-
struct+on~ep~ir and maintenance lhereof and shall report in writing to Seller such items that do not meet the above representations, together with the cost of
corr~ting~ame, prior to occupancy or not tess than ten (10) ciays prior to closing, whiChever occurs tirst. Unless Buyer reports such deficiencies within said period
Buyer sha~i;be deemed to have wa~ved Seller's representations as Yo deticiencies not reported. tn the event repairs or reptacements are ~equired, Seller shall pay up to
3`: of th~urchase price fo~ such repairs or reptacsments hy an appropriately licensed person, However, it ihe cost for such repairs or replacements exceed 3% oi
the purch price, Buyer or $eller may elect to pay such excess, failing which either party may cancel this Contract. In the event Se~ler ~s unable to Correct the
det~cienci prior to closing, the coit thereof shail be paid ~nto escrow at cfosing. Seller agrees to provide utilitees service for inspectionS upon reasonable notice.
Qetween t~ Effectfve Date a~d the ctosing, Selter shal~ maintain the Property and Personalty including but not limited to the lawn and shrubbery, in t~e condition
nere~n rep~esented, ordinary wea~ and tear ezcepted. 8uyer snall be permitted accass ~or inspection of the Property prior to closing in order to conffrm compl~ance
` :v~th the fc~@gang.
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O RIS~OF LOSS: If the improvements are ciamaged, by (ire or oth2r casualty prior to closing, and costs of restoring same does not exceed 3%of the assessed
valuation o- he-improvementi so damaged, cost of restoration shall be an obligation ot the Setiei and closing shall proceed purs~ant to the terms of Ca~trac[ with
cost theref â˘esQrowed at ctosing. In the event the cost of repair or resto+at~on exceeds 3~ of the assessed valuation of the improvements so damaged, Buyer shall
have the op~jbn~if either taking the Property as is, together with either the said 3°h.or any insurence proceeds payable by virtue of such toss or damage, or of can-
celling Contr~ct end ~eCeiving return of depositlsl made hereunder.
P. PROCEEDS OF SALE; CLOSING AROCEDURE The deed sha)1 be r2corded upon clearance uf funds and evidence oi titte continued at Buyer's expense,
to show title in Buyer, without any encumbrances or change wfifch vrould render $eller's title unrnarketable trom the date of the last evidence, and the proceeds
of the sale shall be held in escrow by Seller's attorney or by such other escrow age~t as may be mutually agreed upon for a penod ot not longer than five 15) days
trom and after closing date. If Se~ter's titte is rendered unmarketahle, Buyer shall w~thin said five (5) day period, notify Seller in writing of the defett and Seller
shall have 30 days from date of receipt oi such notification to cure sa~d defect. In the event Selte~ fails tq timely cure said defect, aIl monies paid hereunder shall,
u0on written demand theretor and within tive (5! days ihereafter, be returned to Buyer and, simuttaneously with such repayment, Buyer shall vacate the Properiy
and reconvey same to the Setler b~ special warranty deed and return the Persona?ty. In the evsnt Buyer fails to make timety demand for refund, Buyer shall take
title as is, waiving all rights a9ainst Seller as to such intervening def~ct except as may be available to Buyer by virtue of warranties, if any, contained in the deed.
In the event a portion of the purchase pnce is to be derived from institutionaE (inancing or refinancing, the requirements of the lending institution as to place, time
ot day and procedures for closing, and for disbursement oi mo~tgage proceeds, shall control, anything in this Contract to the contrary notwithstanding, Provided,
however, that ihe Seller shall have the right to require irom such le~ding institution at closing a commitment that ~t wilf not withhold disbursement of mortgage
proceeds as a result of any title defect attr~butable to Buyer-mortgagor, The ~escrow and clos+ng procedure required by this Standard may be waived in the event
the attomey, titte agent or ~Ipsing agrnt rnsures aga+ns[ adverse matters pwsuant to Section 627J841, F.S. (19831, as amended.
Q. ESCROW: A~y escrow agent receiving funds or equ~valent is authonzed and agrees by acceptance thereof to deposrt promptly and to hotd same in escrow
and subject to ciearance thereof to disburse same in accordance with terms and conditions of the Contract. faiture of ctearance of funds shall not excuse perfor-
ma~ce by the 6uyer. In the event of doubt as to escrow agent's duties or liabilities under the provisions ot this Contract, the escrow agent may in agent's sole dis-
cretion, continue to hold the subject matter of this escrow unt~l the parties mutua~ly agree to the disb:irsement [hereof, or untit a judgment of a court of competent
~urisdiction Shall determine the r~ghts of the part~es thereto, or escrow agent may deposit same with the cterk of the circui[ couri having jurisdictio~ oi the dispute,
and upon notify~ng al! parties conce+ned of such ~tion, all liability an the part of the escrow agent shall fully terminate, ezcept to the extent of accounting tor any
~tems theretofore detivered out of escrow. If a licensed real estate broker, the escrovv agent will comply with provision; of Chapter 475, F.S_ (1983?, as amended. In
the event ot any suit between Buyer and Seller tivherein the escrow agent is made a party by virtue of acting as an escrow agent hereunde~, or in the event o! any Suit
wherein ezcrow agent interpleads the subject matter of this escrow, the agent shall be entitled to recover reasonable attorney's fee and costs incurred, said fees and
costs to be charged and assessed as court costs ~n favor of the prevailing party. All parties,agree that the escrow age~t shall not be liable to any party or person
whomsoever for misdelivery to Buyer or Seller of items subject to this escrow, unless such misdelivery shaN ba due to will(ul breach o1 this Contraci or gross negli-
gertCe on the part ot the agent.
R. ATTORNEYFEES:COSTS:Inconnectionw~thanyl;tigationansingouto}thisContract,theprevaiGngoartyshal{beentrtledtorecorerreasonableattorney's
fees and costs.
S. FAILURE OF °ERFORMANCE 11 Bu~er fails to periorm th~s Contract withm the tiwie spec~fied, lincluding payment ot all depoiits hereunder{, the de-
posrtlsl paid by the Buyer may be retained by or tor the account of $eller as liquidated demages, consideration for the execution of this Contract and in fult settle-
ment of an ~ claims: wnereupon Buyer and SeRer s?~all be reheved of all obllqations under the Contract: or $eller, ai SeUer's option, may proceed at law or in equity
to enforce 5eller"s legal rights under th~s Contract If, for any reason other than failure of $etler to make Seller's title marketable after diligent effort, Seller fails,
negtects or refuses to pertoim this Contract, thN Buyer may sNek spacif~c c:erformance or elect to receive the return ot Buyer's depos~tlsi w~thout thereby walv~ng
any action for damages resultin9 from $~Iler's breach.
T. CGNTRAC7 NOT RECOR~ABLE: PERSONS BOUND; NOTICE: Ne~ther this Contract nor any notice thereo( shall be recorded in any public recordz. This
ContraCt shal! bir.d and inure to the benefit of the parties hereto and their successorx i~ interest. Whenever the eontext permits, singular shall inctude ptural and one
gender shall include all. Not~ce given by or to the attorney tor any party ahafl be as effective as it given by or to said party.
U. CONVEYANCE: Seller sha11 convey title to the Property by statutory warranty, trustee, personal representative or guardian deed, as appropriate to ihe
status of Selter, subject only to matters contained in Paragraph V11 tiereof and those otherwise accepted by Buyer. Pertonalty shall, at requesi of Buygr, beconveyed
by an abso~ute bill of sale with warranty of title, sub~?ct to s~.ich rnatters as may be otherw~se prov~ded for herein.
V. OTHER AGREEMENTS No p~lor or pr~qPnt aqreements or representations shall be bindmg upon Buyer or Seller unless included in this Contract. No
modif~cat~on or change m chis Contract shall be valid or bmdina upon the parties unless ~n writmg and executed bY ~he party or parties to be bound thereby.
RP~ ,~s~ gp~tc 50U ~AGE
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