HomeMy WebLinkAbout2104 ~'l ; f~
STANDARDS FOR REAL ESTATE TRANSACTIONS
i
I ~ EV{DENCE OF T1TLE: (1) M aUstr,ict ot td4~ pre~aueti tv ~X(K1~IlI CUNCI1~ DY .l fC(hl~~]W1r ~irct existuig absiracl hrm UI ~~1 e.~s~~~x~ Ihn certdk~l as co~rett Dy .l~l C115~M1(J INRI~
;wxlin~ 10 be :ln accurate synops+s ol ~tx~ ~nsirunt~nls .~Ili~ln~ tilk~ to Rea~ Roperty rCC:~nk~d in Ihe lwb~iG r~corclc ol Ihe ca~nty vvtrrctin F~eal Prc~erty ~s bcated. ~hrou~h Elletlnc
i, ~tE~ vid wh~c~ shaN comrnencP wdh the eailx~st ~x~d~c recads. or s~~;A Iak~r d:~t~~ .~s rnYy be u~stan~ry ~n Ih: c:x~nly U(x~i clcis~ni~ M Ihs Ir.~ns.~clqn ihe aCst~act slhdl becane
K l*oPMty d Ei~ry~er. wt*~ct M lh: rghl d retc~UKx~ Ux~r~~ot try tusl nwrtga;K~e untd tulN ~,.ixf 121 A I~ik u~stirvic~ comin~t~Tx~nl iswcd by a Fbncfa I~GenseA titie ~nsurer agr~ng
~SSUe fo Biryer. ut~on recailnxa ot the ii~rct to E3iryer. ~n c~wn:ts t~~Y ol trtk~ u~uince ~n tt~e :r„aud d ~rr aucn:~se a~ce. ~~~~ny &,yers ~~ik~ io ~teai Proo,.~rty. x,bK.d ortiy
' ~~s. e~~cumlxv~ces. except~au or W.~I~fn;~~l~on set fcxlh ~n tlus Ca~tr:~cl aixl Ihose whKh sh.dl he dtitch.~rqt,d ~y S~~ik~ al or before cbs~ng Sc~k~r sh~ll eaxey a markelabk~
~ sub~ecl mly to IR~ns. c~rxai~nbrances. e~ecc~i.xu a cX4ibf~c:~tans set lcxth ~n Caihx.t. M.irkel.~ble t~1le sik~u be determ~rd accaduy lo applic.~ble Tdb Starxlards a~Sod~d bY
~ .~,_,ttxxdy d Ttw Fbnd.~ Bar ancl in xcacl:mte wdh 4~w E3~rmr sh.41 ha•m 30 d.iys. d ~UsGxt. a 5 days. ~t t~tlr cm~mdmenL Irom clate ol recervux~ ev~dence d tdle b examne
~ i~ btie is laind cSetectrre. &ryix ~ltiilt, w~ihin 3 cfays. notdy SetSCr ui wnlu~ s~~eaiyuxa ~lelE~c:lls) tl the ck~f~ctls) rerxler ldte unrn~vkLt;~b~e. Selkv w~G 1k~ve 120 d.iys Irom ioCeqi
~ nolice w~ttun wluch to rcrtavc± thc ck~fr.ct(s). failuY~ wh~ch [3~rycc stwll hiv~: tFr. optrx~ d cylhcr xccduxl ttr l~tle ~s ~t thcn ~s a cknti~ixluy ~ r~~lwxi d dc~~os~lls) paid which
I =.~_~J ~rtxrx.~diatMy bc returncci to &rya. Itx.veui»n E3iryc~r aixf Srlw~r sh,~N ~i* ~se cxx~ :a»lher o! ~!1 ~wllxy M~~}iiq+~s wkkr th~ ('.ait~xl ;x~kY w~t1. J I~t4: ~.s iaiM unm.vketab~e.
I ~.5~ dd~gent e~~al to correct dele~;tls) in t~lle wilh~n the t~nw povrk~cf lix~r~ta, uicl~cfux~ tl~ bn~x~ux~ ol ~~cessa~y su~ls
f3 PURCNASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A~wrGk~se max~y nrrtq.xjc aixf mo~tgK~c note to Sel1c~ sh:+~~ txovKle itx a 30 tlay y~xe perqcl m
i~.~nt ot defaull d a hrst mo+tc}y~~ :uxl a 15 iLiy iuxe perioct d ~ sccaxl w:rsSCr nxxlc}~~+. 5tti~ll ~ovrlr icx riyhl d lxep:iyrtx~nt in whok: or ~n {4~r1 w~!houl peit~l~y. Sh~il
; rt:t permit xGCler~l~on or uiG~rest :~c1~~strrknl m e~n:nt c~l n~s.ik~ d Fte~l Ro{x~~ty. str~ll r~rp~w[~ :di ~rar Inyi ~ixl ena~m;x~~ces to be hel~ ~n ~pod st:indu~ aid IadA mocl~f~Cal~nrlS
i rr lut~re advanCes wxler tx~or mortgx~r•ISI. ~~c1 Ihe rmrtc~x~e. nc~te ancl security :igreemenl sh.~11 be otherw~se in torm ~nit CoNa~t rcWuued by Se~lkr. txi~ Seller rnay only requwe
i ;.'.~:ises eustanardy fouM ~n mortc#~ges. mOrtg.~ ~x~les. ancf secur~ty :~gr~rnx:nls yc,yx•r,Jly utihzed Dy s.iv:nc~ .uX1 b.'u~ ~nsl~t~ilr~S. a state or n.~tqrti~l b;uiYes bc.~tc~cf ~n thC eounty
i .:!~•rcYn F2ea1 PrOpc~rty i5 bcatCtl AII Personalty ~nd k~~«s tx~+~tiy cc~eyetl cx .issc~ncY1 Vftll. .ll :iM7l!f 5 tK~~rx~. bC sublec! to Ihe I~en of ~ secur~ly agreement Cwtid~3ncecf by secorded
!,n.~x~ng Statcxr~ents. tl a balfop~ mortg'~ge. the hnal payment w~l! exceed the {~eracl~c paymenls tlierea~
j C. SURVEY: Biryer. al &N~r'S ex~ise~. w~thin t~me :itbwcKl fo ~kKrver ev~ckvr.^ of t~lk~ ~~x1 Ir. c~x,~nHrw s.~nw~. nuiy h.wc• ftc:~l F4qx~rty siuv~y~x1 acxl c~~rt~f,e~c1 by a rey~st~~r~Yi f~laKt~
~ uirveyor. 11 5urvey sho+vs en:.roxhm~~nt a~ Rc~al Pr~piYty a th.it ur,~ovenx~nts bc:ili~:t a~ Hc~l F'~opcrty c~icroxh ai selb.~ck I~rks. rasements. 4inJs ot others. or vodate ary restr~ctans.
~ Ccxitrxt covenants or appl1caWe go~ernment~l rcx~uLitan. the s~me shiu ca~stiWte ;tRk: cfefect .
~ E IT :&r 'r. at rycrr's c lx'~~cc. ~dh~n ~~m :dkwav hi ~`IMY ~ vwk~~x'.C td~• rx ti~ rx:in k. sanr.~ n.ry h.ivi ka.ol Pru{r ty ~ns~~c, ~a1 by ~ F' rr~.i CCrf~ 'd Resl COntrd
; t
'~~a 1 to ~1 ~ d t re ~s a~ v~~1~li, :ictiw~ ti ~ute ~nA .Lilx~n or ~;+t~ ex~. ux~ d~n' :?c Irom ~rrm~hr u1 ~•;t:~tan ~ thr in~ru ~mtnls f edtxrr p Ih are 1 rd. Buye~ Nnd
/r e fr dlen nOt.'e thCrC . w~thm kh io i~e aH d;. n.~yes. w:lher ws ik~ a rx u~,~~clc. irxl es itc~f by . I~censed ~~er o~ neral ca acto~. Sc.~tkv
' / st4"~:I IrCa ~t a Cp~lu o:lil d~m ~ t 2 o d tx~ 1~.'tse pr Shou 5uc.h co s ezc . tt~.~t a uet. Buyer ~II h,i~c he opla~ CanGCy GontraC!
! rn;h~n 5 il ol ont .'tCt 5 rep.lir st~m.tte ~y qrvt wr~ltcri I~ce t0 ~et or t m:ry •:~~Ct !o oceecl w the tr:l ;lclan. ul h~ch B~ryCr lll rCCC~vC
cred~ ng an moun eq~k~l t lhe lota Ihc t>>I~nenl and repat ~st~mate ~ot m ex ~ss ol 2 0l Itie { rctkise -c Tcr .s 5hall !o mC aIl w~a~
,~-stro to reporl urxle~ tr Fkxicia t~sl Ca d Nd
E INGRESS AND EGRESS: Sct~er warranls J~X1 frpt~.5Ey115 Ih~t 1te:~re is ~~9ress ~~x1 i>~ress to ttx Rc~,d Prc~:rty sulf~ccnt lor Itie interxk~cf use ~s clescnbed m Paragraph VII hereol.
:~k: to which is m xcordance with Stand.~rd A
F. LEASES: Se~ler stnll. no~ Iess ~h.in 15 d~Ys txtae cbs~i~7. ~urnish to C3:ryr,v copies of a'1 writlen fe~ses a~x1 estop~~d ktters ~~orn r'~ch Ien~nt speufying the nalure and durat~on
' Ihe IenanYs ocwpancY. 'eMal r.Aes. :x7vancecl rent ind uc'u~ity dcpOS+tS P~r7 by IFn.~nt It Selk~r ~s urtiit~k~ to obl~in such feitcr Irom e.xh terk~M. the same mformat~on shaN be
'_~-n~shed by Se~iM to &yer within th<il timr ~c+ract in Ihe lorm o1 ~ Sctter's iliKl,~v~t. and &ycr may thcrc:iltcr contxl [en,~nis to conl~rm suGh inlormatan Selier sh~q, al do5ing, i
e4'r.~.~r arxl ~usgn all orgnal {eases lo &rycY
G. UENS: Sclk+ shatl lurn~sh to &rycY at t~mc of cbsux~ ~n atlKi.iv~t .~~test~ng to Ihc ~bsence, unV~~s oihcrw~se p~cnr~ded (or txYCtin, of ~ny (uk-~nung statements. cLiims OI I+en or i
;r,;~nt~al lienors knoxn to Se~ler ~rx1 turtMr altesfug th:it lMre h.ivr tx~e+i no ~n~rotir.ments or re~ius ~o Rpperty tor 90 clays ~mrt~~~tely preted~~x~ da[e Of cbs~rg I( PrOpMtY
r,~s been ~mprpv[,~d. pr ~epaired witlun th~t I~me. Sel'~er shau ck~lvcr rele~ses a warvers o! mec?k~nKS' I~s ezc~cuteci by all c~ener~l contr;ictors. wDcontractors. sup~liers. and materaknen ~
~ >>c]dd~on to Seller~s lien affu7,iv~t setting lath the names ot ~U wch general ccxiinctors, sube.ontrxtps. si~lwrs a~x1 m~ICr4Y.men a~tt1 furlh~Y alt~rm~ng tta~t a~l ch.irges lor ~mprOVCrtx.`nts !
c~ repairS whiGh Cask1 scrvC as ~ b.'~.55 lor a rnCClk~rnC s licn or a e~~~m lot dim.u~es lk7vc bcci~ µ~r1 or wdl bc {~:lrt ~1 c~o5ux~ }
H. PLACE OF CIOSING: Gbsen9 sh.it! be heki m tlx~ couMy wtkYC f~eal Property is bc.itect. :it thr ofticc o! Ilk~ .ittorney or otlier tbs~~g :u~`nl des+g~~.~ted by Se1k'r ~
1 T1ME: TunC ~s of lhe esse,~nc;e ot th~s Conlract Tmx pr,r~~ets here~n of ~ss lh.in 6 diys sh.ill ui the comG~~t~i~cn i~xckxSe S~turctays. Su~~iys and sWte or r~atbnal kga! hpl~days.
ti1 irry [ime perqd provded Ip hcrein wh~ch shall end a~ S.iturd~y. Sunday or k.~gai hdKlay sh,ill exl~~c1 ~0 5.00 m of Itr next business day. '
J DOCUMENTS fOR CLOSIPiG: Scy~er sh.ill fu: rnsh dec~cl. b+lf of s=1e. m~ch.~n~c s I~en alld.rr~t, ass~gnmenls o! k~ses. latiint arxi morit}'~gee rstoppel lelt~YS, and co~rettrve irutruments. ~
B,r,~r sha6 turrrsh Gosing statement. mor+.~e. mortg~.~ note. scair~ty :r)recrt~ent. :uid fm.~nu~x~ sl,~tements
K EXPENSES: Da'.umentary Starnps on Itie deed aM rCGOrtS~rva LOrrCChve inStru~x:n15 sh<~il be p. d t~y Sc~tk~r Dpcume~ntary sL~mps. int~n~ble tax and recording pu~cha5e mcx~ey
rvrtgage lo SeuM. deCd and f~n.'fncing slztemenis sh~l! br paK1 bY Btryer
l_. PRORATIONS; CREDITS: Taxes, assessrrx.~nts. rent, intcr~~st, ir~u~rarx:c a~~d othrr ~xpen,.~s arcl rc~n~ni~r nl ('roperty slk~ll br ~xorated thrax~h d~y before cbsing Btryer sha~~ 1~vC
~c opt~on of taking over any exstmg pd~ues of insurance. d.z~sum,~ble. in wh~ch t~vent nremx~n~,s sh:ill l~ prorated Cosh ai cbsing sh.~.ll be mcrr.,~sed rx deaeased as maY be
`;,~red by praataRS Praat~au will be made thr~,Gh d~y ~xrx to occu~.~ncy ~I ocuqancy ocwrs belore cbvnq Aclvance rent arxl :,ecunfy depos~ts w~11 be uedded l0 8uyer and
~~scrow depos~ts held by mortg~ will be crr.ci~trcJ to Sell~r. Taxes shilt tx~ profa!ed b,~s..^d on ttc curr~il ye:~is tax wdh ck~e albw~nc~ made lor maxirrwm 3lbwable diseaml.
~.:,^iestead and dher exemptRxis II cbs~ng occurs ~t a d~!.~ whcrn ttr. a~rrenl ye:+r s m;fl:h~e ~ not hxed. ~ncf current year's asses.vnent ~s :nra~4~ble. laxes widl be praaled based
i.;~n SuCh 055CSSmm! ancl (he prrx yCar'S m~IGx~c. II wrrent ~C~ar's assessmcnt ~s riot av~~4~bie, ttx~n taxes w~ll be prorated on the prar year's lax. II there are cortpleted imprcNements
c~n Real Property by ,kinuary isl of year ol clusmg which improvement5 ~•+c~re ru~f in ex~,tence ~M .I.Vllklr~ Ltt d lhe prqr ye~r then laxes st~ll be prprated ba5ed upon the prior
,r~~r's md4~ge and al an ec;wt~t~ ~ssr_sumnt t~ t~ »r~y~ct ~~xin lH-'INY`(?fl ~~1E` ~:1~~K`S. I.ll{I!}) wh~ch. «~~est wd! t.e m.~cfe to Ihe Counly Propc~rty ApGxa~ser for an infamal assessrnent
',~'ti~nq ~nto cau~deratan ava~4~bk~ e,cerry~lqru Airy t,ix ~ro;:it~i tx~sed a~ s;~ ~st~m.ih~ ms~. at reyuest d c•i41H~r E3iryer ~ Selkv. he subsecji~enlly read~usted ipon receipt of lax bifl
~r~ conditqn thal a slalernent to tF~at eltecl rs in lhe clos~nq stalement.
~ M. SPECIAL ASSESSMENT LtENS: GerLtrcf. ca~hrrn~ct ani r~tdrtxi speci.~l assessrrr.nt I~ens as ol d.~te o~ cbsmg (arxf not as o~ E(tettrve Datel are to be pad by Se~ler F'cx~dm9
i
k ~ns as d date ol cbsin9 shall be assurr~d by &r~r It !he ~rr,xovemen; iias t~cen substantk.l5r co~~:etecl zs d Eftectrve Date. such perxfing lien shall ~ consdf.~red as cert~fied.
nn!~rmed or ratified and Seiler sha!1, al cbs~ng. be ctU~rgcd :ui amounl equal to Ihe Lut estimate ot ass~ssment for the irrkxovertrnt by lhe puWic body.
~ INSPE ON, REPA AND :rW TENANC Sc~~cr w r~nls ~h.it, of 10 '~ys pna cbsmg. 1 ccdmg. t(~nGud~ ~hc IaSUa ~nd sdht5)~ ~d exte~ and inter~ walls
~
E t have VISIBI EVIDENG o( teaks or ater dan x3e arxi lt. t the sep lank. d, atI m~ appl~ance heaGng. c ~ng. cleclr I, plumb' systems nery are
f RKING DITION. maY. al &ryer's xpense. insP~ m~de ril those ems by a approp~ia y Ffo~da ensed Pcr dealmg the uct~on. repav or
;•nl .ance those ilems 3nd shall t~n wn iq to Sel suGh ~te that do ~ot rneet ~e above andards ~o deleCts to9ether wn lhC CoS~ corrett the:n. prior lo -
f .?.,ryer' or les than 10 d. pr~or to smg, wh hcver ot rs t~rst U'ss reports h deleGts nthin that &tyer I~ be to have Ned SeUer~S
( v..~rr~nt s as to lects tec1. If p.-urs a r xerr~v~t . e requ~r Seller sh II pay up o 3~ of pur price lor _~ch rct~airs replac ts by an -~pproprately
j ,:~xi~ f pe t ~ Se!Ie~ the cosl lo such reP. ~s or r eme~t ex ~ s 3% : the pur ;~ce pr~ce. or ier m~y to pay suc excess. ~l~ng which
4 ~;,~r par ca q xt It Se~ r is un.~bk~ to carec Ihe defec to bsmg. t cos[ the d shall p.vd into scrow at ~g Selier . upon aSOr~ble
--~?we. pr ~e v~ce fa ~ctKx~s tween [Itc trvE- Date ~d the cb ng. Se~k~r II m.~~n in Proper inctud~ng t nol lun,, lo liie I.iw and shru , m lhe ~tion
~ ~c~in warr ed, y wear a lear exce 'ed. E3~ryer I~alt tx~ ~x rtutletl x ss ~a ~ peclion o PreC~'~ty to G' ng in a !o Con~irm .omplranCe th th~,5 rYlard.
i O. RISK OF LOSS: I( the Prope.Yty is damaged by fere a oth~r c.~su:ilty beture cbsmg and cosl d reslaat~on does not excced 3'~ the assess~.~d va~ual~on of the Prope.ly so
~ s~-,iyed. coSS of resioratan sh.itl be an cX~g~it~on ot t!r. S~~I~r ~nr1 c~os+ng sh.i!I proceeci pur~k~nt to thc: terms of Contracl wdh restaatu~n casts eSCrowed at elosing It the cosl
~ storatqn exccr.c}s 3< o~ Ihe assessed valuatan ol Ihe ~rr~rr~verrr:nts so dirrkx~~. &rye~ sha~I have the onlan ot ctither tak~ng Property u~s. together wilh either Ihe 3 ~ or
msurance p~oceeds P.~y~ble bY wtue ol such bss a cfamaar.. or ot canceii~nq Gontract aM rece+v~ng return ol cJrpos+tls)
P. PROCEEDS OF SALE; CLOSING PROCEDURE: Ttx~ ~Y~1 sti:~ll be recorcfed upon ck~a~ance ol funcfs It abstract, evrkrx:e of htle sh,ili Ue ca~t~nued at Bvyc,~'s expense to show
~ ~n C~ryer, w~thou! arry encumbrances a chanqe wh~-h wa~i~f «~rxier Setler's trtfe unrrkuket~t~ inxn tly d:te ol thc last evrcience Proceeds o~ Ihe sa~e sha~~ be he~d ui escrow
1; :~!ier's ailo~~ey a by such olher muh4~!ly acc~~~t~t~le escrov: ~<~nt !a i penoc.' of nol bnger than S tl.rys Irom ancf ~Iter cbs+ng date II Sctiiefs litfe 4s rendc.xed urxn.vketable.
•,•a.q.h np lault d&ryer. 8uycx shatl, withm t!r 5 c1.~y {x:rrxl. rulAy Sei:er in wntug ol tliC delec~ a~x1 Sr.lk_a Shill h<3ve 30 days (rom d~lC OI recept d such nd~t~c.~lqn lo axe
~ ctefect If Selfer fads b t+rtx.'ly cure Ihe defect. afl ~~~s~t(s) sh.:~l. upon wntl~rn denk~rxl h~ &ryer ~~d vrth~n S days a(ler cierrk:nd. be returr!ed to &ryc.'r a~x1 smulta~eaisly wnth
~ . F.h rt~p.-symenl. Buyt~r st4~!1 return Persona!Iy arxl v~c:~le Fic~l Pr~vty ~rx1 rCCOnvcy it lo S~^Ik r by .S{~ec:~il w~rr~nly deccf I( &ryer lads lo make timely dern~nd !o< <efi~~d. Buyer
,!i take titfe as is. wamng a!I ryhts :xy~inst Sef:r.r as to .~ny ~n;erve:un9 cktect except as m.~y be ~v:uL~bR: to Buyer by virtue o{ warranl~es co~tainec7 in lhe deed N a pOrbo~
E ` l~ qfrchase p~CC i5 t0 be derivect (rom ~n;l~tu!ur,.U I~n7nc~rc; rx rcf~:kux.ing. rc~qulrernenls ol Ihe I~X1~ng ~nstAut~on as to place. Ume ol day 7~ MOCC'dUrPS la cbs~~g. and la ~
'-.twrsement ot m[xtg.-~ge {xoc~rrl5 sh~ill control ovF~r Gontr~ry ~xrrr.sqn in fhi5 Cuntr.~Gl Selk~r sh.ill have Itx~ rK~tit to recnure from the lerxlug insti!~itqn ~ written commiirmnt thal ~
~:v;l! nd vnthhokl disbursemrnl uf mor!giye proceecSs Zs n_udt ot :ury tdk~ dek~ct ~t~ntx~libk~ !o &ryer-morlc}~r The ~~urvN ~nd cbs+ng prxetlurP r~ quaed by this Standard i
t~e w,~red ~I til~e ac~il msures :xSvcYSe maUers lxuscu,l fo Seclrri fi27 /841. F 5(~`Jf371. as .~me~xic~! '
Q. ESCROW: Arry rxrow agE~l 1~"~~~) ret~~i~iny f~~n15 or r.~~rv~k~nt ~5 ~uthor~~~A .uxl hy :iccc~~;~ncr o' t1x~m to e1e~o5~I lhem ~xornpity. hold samc~ m eSGrOw and. 5ub~ett I
ck.;uanCg, distxirse lhem wi actord:u~ce wnth term5 and condi!ions ol Contrac~ faJure ol ck~~uarx:c• ot furkts sh.i~1 not excuse &+Y~r's perlormance 0~n doubt as to AgenYs dut~es
~!43b1{111C5 Uf1O(;7 ~Flf,' ~ifOV~510t15 d Gonlract. Agent miy, at Aqent's optan, conl~rxx~ to hacf the si,t~;ect rn.ilter ol the escrow untd the part~es mulually agree to its disbursemenl.
un:l a)udyment of a Gourt o( cOmpetent ~u~ist7~Ci~cxi stk~ll c'.elerrtune lhe ~ghts of Ihe part~es or Age~l m~'ly deW5~1 w~th Ihe Cletk ot thC CuCUit court having ~unSdiG?qn d lhC
~ '_:x,±r. tipon notdyux~ parl~es concerrxd of y~ch aclpn. ali 14~tHh1y on Itr~ ~.~rt ~I llgent sh~!I lidh~ ~rrin~n;tlr. exC~'~~I f0 tM ~xtrnt ot xeouni~rc~ fer arry dems ~xevqusly Aeliv~red
ef escrow It a I~certed real rstat~ brok~r, 11c~~ni v~,tt c~i~,~y w.th ~rov~;r,r~s nl Ctwpler 4,,, F~ ItJR71. ~:n~~~!M1 Any s~nt f~etvxmen Buy~r a~~c1 Sr,ller where Ar~ent ~s rnacSe
: i,i;ty because of act~~~ ~3 Agcn[ t~en.~;nder. cu ~n ~rrf -,~~~t wix~rc~~n A~, ~~~t ~nt~r(±!e.xfs 1!~ u,~;~~ct m.~itr,r ~f IFx~ e:,crow. <rx~nt Sh~~l rrcover reasaiaWf' attorney 5 fees :~nd co5~5
F ~...,rreci wdh Ihe lees anc! costs to be ch~rqed iM asse;~.c~f r cc~~rt costs ~n f~~vw ol the prev~~hn~ p,uty Pir;n~s <rarre Ihat Aqenl shali not tx~ I~able to any P~rty o~ pe~son
~r m+;del~very to &ryex or Selk~r ol ~t~ms :~,b~ecl lo th~s e:rrovv. un~ss ~aK'1i misrk: ~rvt`ry ~S c1~rn lo •.villf~d br~ .-x:h ~~I Cc~tracl or c~ross mc~IK~:+ce of Agent_
R. ATTORNEY FEES; COSTS: In any l~trcjalq~ ar~;~n~ cx,t ot ti~~; C~ntrxl. 11x~ We.~ad~nq party sh~il t~ ontitied In recovrr r<^~sorntrk: ~Ito~ney s Ices a~ eosls
S. FAILURE OF PERFORMANCE: II E3ityer t,~ls 1o p'rlorm ~hi; Conirxl wdhm. iM tirtx~ speul~d (uichding ~a~ymenl of aA cky~s~t(s~). lhe depesdls) (~d by &r~r rt~y be retaineo
~ r.•r for Ihe :iccounf ot Selle~ as iyreeA imon Irp~Kf.~l.~~1 ~1~IT:K]C5. GGISKIClJIKN~ fo~ the ~~xr.cut~cn ol ~iii~ Conlrzcl ~nd m lull ~lthme.~nt of any c4-~~ms. whereupon. &ryer and Seller
f ~'~I be rrl~evrd ot aq oblra.~tirxis urr}er Contixt. or .~,rlk~r, it ;,elier's opt~on. may ~xoceed ~n r.~R;i;y lo Fn!cvcr Setfer's rr~hts ~:nck~r th~s Goniract if. la arry reason other than laikxe
~ Se:fer lo ~ake Se~~~s t~tk~ market:,bte ~~t~Y d~tKarnt ef!ort. Se~~er fa~s. rx~lects a relus~s lo r~erlwm th~ti Ca~i~xt, the E~ryr~ may seek speut~c ~erformance a ciect to receiv~e ~
~ ~i,~ return Ot Buyer~s cfepositls) w~~hait thFretr~/ wam+x~ arry :~clqn lor cf.im.'xar.s resuitirr~ from Sc41er's txe~ch
~ 7. CONTRACT NOT RECGRDABIE; PERSONS BOUNO: NOTICE: Fk~thr~r thr, (',tx~trxt nco any ~ot~c~ nl it :hau tx~ mc~~tcct m any ~iN~c records 7his Contrxt sh~.i!1 b~fd and
~ -~:~t~ to the be~ef~t Of IhC p~rlr5 arr; ihCir SuCCessor5 ~n inlere5l Wtm!~x,~r ~h[` coniexl pe~m~ls. Serx~~i4ir :,h~ll ~iic!txte ~4iril ~nd ~r'r gnrxler sh.ill mclude all Not~Ge g~ven by Or
tne atlaney tor any narty sh~11 bc as el.'ectrvF~ ~s ~I yM1*_~n by a lo that p.i: ty.
U. CONVEYANCE: Sc9~er slk~ll convcy ~i!k~ lo Re:~% F'rop^.rty by sWlu;txy waninty. ir~islrr.'s. !K:* ;~;n~I rc, rc:.~rntairvo s~ c~~ard~~n ;~}r~tS. as ~~~k~te Io tlx~ stalus d Sel'rr. St~eG1
~x1y to matlers Ca:tainccl m Paragra{~h ~~I aM Ihose othc•rvn.uz accepted tr~ F3~ryrr F'rrscuz~?Ity :,h.i~I. .~t rrtFr~s! Of Btr/M. tx` Ir~n5lcYrc~1 by :+n at~soM~te bdl of sate w~th wartartty
c;! I;tie, subleCt only to such rrk~tir.rs ~s m.~y bc olhervnsc [xovdec3 fon c~rcin
~ V. OTHER AGREEMENTS: No prar ~r C.~esent agreemer.ts or re~uesentata~ shail be b+rxf~nq uC~ ~~~k'r unlrss ~nchaft~cl ~n th~s Cont~xt. No mafrf~catqn p charge in
;h~s GontraG shatl be va!id a hncArr~ iqen If~e part~es uivess m wnl~nq and executrcf tr,~ Nie ~.vty or part~es ~nter*iecf to br bo~uxl tr~ ~I
~ W. WARRANTIES: Se~1er w~rrants th.~t ttr_re are no ta~ts icm~~n to Se1!~r maler.~I{y affectme, the vasue ot 1Fx• F~~i Pro~K1y wh~ch ar~ not reac7dy observabk~ by Buyer or wh~ch
'~~r.~ not been d~st'.bsed to &ryer,
- ~ so~K 674 PAGE~104
~
s
~ , . Gt~yrc~hl 1988 by The Fiarta Bar and Ttr Fkxda Assoc~~tqn c ;
y - -s;~,. ~
. r~a ~