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the sums due hereunder and closes th~.s ~ransaction at the
time set forth herein (time being hereby made of the essence),
- then and in such event, all sums previously depasiter~ by the
Buyer, together with interest accrued (if any) on said
escrow deposit, shall be and become th~ sole and exclusive ~
property of the Developer as liquidated and agreed upon
damages, and this Agreement sha11 thereupon be null and void
. and both parties are relieved from further liabi~.ity hereunder.
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The Escrow A ent shall not be liable to the Buyer for the '
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i disbursement of such funds to the Developer upon written
demand to the Escrow Agent from the Developer stating that -
~ the Buyer is in default.
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~ A. If the Developer defaults in the performance of ,
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~ its obligations hezeunder, then Buyer's sole remedy shall be
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~ , the return of the sums paid by ~he Buyer hereunder, together
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~ # with interest accrued on escrow deposit (if any),"upon
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. i Buyer's wri•tten demand to Developer. The Buyer hereby ~
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specifically waives any and all other rights and remedies, '
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!!.both legal and equitable, that the Buyer may have against
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~ ;I the Developer upon any such default. ~
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~ I~ ARTICLE IX ~ ; i
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~ f~ RECETPT OF DOCUMENTS } f
The Buyer acknowledges having received from the Developer I ~
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~ :1the following documents as of the date of this contract: ~
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' A. .~'he Pros~ectus, together with the documents required t
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~~to be delivered by Developer to Buyer pursuant to Sections ~ ~
~ 718.503 and 718,504, Florida Statutes, including the exhibits ~
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~irequired thereby, including among other docurtents, the
{~Declaration of Condominium, Articles of Incorporation, and
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~By-Laws cf CAPRELOT GARDENS CONDOMINIUN HOMEOWNERS ASSOCIATION, ~
- ~ INC., a copy of the estimated operating budget for CAPiELOT i
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! 'iGARDEN5 CONDONiINIUM, and a schedule of required aDartment I
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. owner's expenses in connection therewi~h. .
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GEORGE W. SOMMER. ! B. A Sales Brochure, whi~h includes a copy of the >
P, ll - ~ - .
ARORNEY Ai LAW f ~ ~7 - ~
POST OFfICE 807( 2210 ' I" r'
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57UART, iLOP10A 33.~95 ~
(3051 ~87-1233 { t'
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~,K ~`76 ~87 . ~
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