HomeMy WebLinkAbout2148 t'. yl~ItVE1'. Bwe-, el E?u~•~r'e expenu; N~ilhin tin•~ oNrd for delivery of evidence w` tille snd exemin thered, may have lhe Property earveyed end
cf~r h~ied by s regiqterPd Plorida eur~•eyor. If th~ eun•ej ahowa eny encmechmeM on the Properly or thnt imp..,vementr jntended to be located an the Prnpetly
i n fnct encron~h on eetback linel eaeemenle, lends of alheta, or violete sny teat~ictiona, Cantrec! covenante or epplicsble Sovernmental regulslione, the ea e
ahnll be ereated es e tille defect. Q~_ ~
TF.RMITE3: Buycr, ei Buyer a expenw~, w•ithin time nllowed !o deliver evidence of title end exeminetlon lhemd, may heve tfie Pmper~y nRpect bp
n Florida Certified I~eat Conl?ol Opernlor to delermine whether thete i~ enq vlsible ective termite infeetntion or vlaible exletinq damege fmm termite infeale~•
tion in the impro~emenle. If Quyer ia informcd c~f either or boti~ of the foregoing, Buyer will heve fourlten (14) dnys from dele d wrillen ootice thered or
tc~~ (10) deya eRer eeleetian of e contractor, whichever occuro firot within whieh to heve sll damege~ whether vlsible or nol, Inapetted and eeUmeted by a
tic~~nsed building or genera) contrectoc Seller Ahall pny velid eoata of lrrelment nnd repely dell demage up l0 29F of purchaee priee Should eueh costn e:ceed
thnt nmount, 8uyer ehall heve the option of cnncellinR Conlrec! within (lve lb) dnya eRer teeelpt of eontrncfor'e trQalr eetimete by glving written nolice to
S~Iler, or Buyer ehell reeeive e credit nt clo.ir.g d an nmount equal to the total of lhe trealment nnd repnlr eetimnte not fn exceia of two (27c) perrenl of
th~ purchnx priee. "1lrmitee" ahall be deemed to•include ell wood deatroying orgenieme rec~uired to be reporled under the Floride E~et Contml Act. The
pc~rce~tnge eet forth in lhis Slnndnrd rcgnrding repaly d daenege ehell be eaelueive of the pereentage set forth in Stenderd N below.
E. IN(:RF.3.9 AND EGRF.93: 3eller warrenfr thet there Is ingreee end egrene to the Property euRicient for the Intended uee ae deecribed in Peregreph
7 hereof, litle to which ie in ecrnrdnnce with Stendnrd A.
F. l.EA9F.8: Seller ehall, not lea~ than IS dn~s prior to closing, furnieh to Buyer copiee of el) wrilten lea~e~ end eetoppel leltere from each tenant epeeifying
the nnture end durnlian d lhe lennnt e occupency, renlnl rnle~ edvanced rent end eeeurity/damngelul{lity depoeita peid ty tenent. In the evenk 3eller i~ aneble
t•, obtAin euch letter f~om eACh tcnonf, the anme Informetion ehell be furnlshed by Seller to Buyer within eaid time perlod in the form d e Seller elTidavi~
A nd Eluyer may thereaRer cont~ct lenenl+ to confirm ruch Information. Seller ehnll, e! cla+ing, deliver end eseign sll origina) leasee to Buyer, and all edvenced
r~nta nr5d security/dmm~ge/utility depoeila ~hnll be pnid or eredilcd lo Buyer et eloeing.
1,1F.N3:Seller ~hall, bolh ee to the I'roperty ~nd I~rsonally being eold he?eunder, furniah to Buyer st time dclosing en aflidavl! etteeting to the ab.ence~
unt~.~ otherwise provided for herein, of eny linancing etalements~ cleime d lien or potentla) Ilennre known to Seller and further stteating thet there heve
h~~n no imptovemenk+ or repeirr to the Properly for 90 dey~ Immedielely precedin~ dale of cloeing. If the I'roperty hae been improved, or repeired ~vithin
4r~ id timP, Seller ehall deli.er releeaea or w~ei~rr~ d mechenic'e lien4 executed by ell generel contractor~ aubcontreclore~ euppliere, and meterislmen, in eddi-
ti~n to Seller's lien etiidn~it selling forth the nnmes c?f el) auch genernl eontrectorA svbconttactore, auppliera end matprielmen end further reciting thet in
~nct nll bill~ for nork to the i'mperly nnd Itiraonalty which rnuld l+erve es a basis for e mechenic~ lien or e cleim for damnges have been paid or wil) be pnid et cla~in&
I1. PI.ACE OF CWRINC: Clo+ing shall be held in county vrherein Froperty ia loceted, at the oRice of ettnrney or other elosing egent designetei! by Seller.
t. TIhtE: Time ehall be d the esaenee only aa to paregrapfi~ 2(e), 2lb), end 3. end er to Stenderda D end N. Except aa to eeid peregrepha a~d atandard~,
t i rne f~ not d the e.vence ee to all othe~ terms of lhie Contrscl. Either petty mey make time of the essence ea to said other terms in lhis Contraet bq giving
n~tice in ariting to the la+t knmvn addre~~ of the other pnrty or hir attorney, etipulating ae to which term(el that time is beinq made d the es.+ence and
stipuleting ~ reasonebk time for further performnnce. Time period~ herein d less than eta daya ehell in the computntion exclude Saturdey~ Sunday~ end
~tnte pr nationel leg~l holidaye, end ~ny lime period provided for herein wrhich ehsll end on 3elurdey, 3unday or e legal holiday shsll e:tend to 6:00 p.m.
~f the ne~t bu~ine~ dey.
,1. UnCUMENT9 FOR CLOSINC: Seller.hell furnish cla+ing slatemenl, deed, mechanic'e lien eRdevlt, ea~ignmenls of lencea and eny corrrctive instruments
t}~nt mny be required in connection Kith perfecting the title. In lhe event dSeller (inencing, Buyer ehel! furni~h mortgege, mortgege note end finencing
~?~tement. Copies d ell euch dcxument~ shnll be Rubmitted to the other parly prior to lhe clwing.
~ K. F,XPENBE3: All ete~mp+ required on decKl, the cost e~f preparieg and filing the 10991'orm, the ewt of cnmplying with FIRfTA, end the caet of recording
n ny rorrective instrumenl~ rhnll be poid by the Seller. All fee~, atampti taxe~, end ca~ts incurred in connection N~ith eny finnncing or in eruuminq en exicting
mortQnge (including documentery alamp+ end intenqible laxeal end the cost of recotding lhe deed end finencing +tatments shall be paid bp the $uyer.
PRORATIONS:'I~xe~ oaveeamentl rent, interest, insurence and other expen+es end revenue of the Froperly shall be pmrnted lhrough day of closing.
RuFer Rhell he~e the oplion of teking o~•er eny esieting policiea of Insurance on the Property, ff esaumeble, in which event premiums ehell t?e proreted. Cneh
nt clo.ing ehall be incree~ed or decreased ns mny be mquired by anid proratinna All prorntion~ will be made through day of occapancy if occupnncy rxc~~rs
hef~re clcr. ing. 'Ik~xe~ ehall be prorated based on the current penr e tnxes with due ellowenee mede for maaimum allow•able dixount. homestead, end other
ex~mptions If cloeinq oceurs al e dnle when the current yearb millege is not fixed, end current year'e essea~ment i~ evaileble, taaea will be pmrated bnsed
urnn .uch asserment and thr prior year'e millege. llowe.~er, eny tea proration based on en eatimete ehall a! requeet o[either Buyer or Seller be eubsequently
r~ndjucted upon receipt d tex bill.
!~1. RPF.CIAL ASSE9S1?1BNT I.IF.NS: (:erlified, confirmed or ratified apecinl eases,gment liene as of dete d closing (and not es of ERective Detel are to
h~, pnid by Seller. IlPnding lien. es c+f date nf cloainQ ahnll be assumed by Ruyer, provided, however, the! if th~ improvement hna been eubslantielly rnmpleted
~a ~f F.iTecti~•e Dnt~, ruch pendinQ lien Rhnll be cnneidemd a~ certified, confirmed ot tntitled snd Seliet ehell, et cloeinR, be cherged en emount equnl to the
{;,~t ectimnte by the public body of the es.~essment for the improvemenf.
:^~i. INSPECI'ION, ~tEPAiR AND MAIN7'F;NANCE: Seller representa that, es d ten (10) dey~ prior to clo~ing the ceiling, roof (including the fescia end
' ~~~iTit~, nnd eaterior end interior K•nlls do not hnve eny VISIF3LE EVIbENCE d leeks or demaqe, and lhat the eeptlc tnnk, a~ell and pump, pool, ell ma,jor
~ np~liencel heatinR, cooling, electric~l, plumbing epslems end machinery ere in WORKING CONDITiON. Buye~ mey, et Buyer's expens~ heve in+pections
~ mnd~ r•f aaid items by en nppmprintely licenacd persnn deeling in the rnn~truction, rrpeir end mefnlenance thereof end ahall report in ~vriting to Seller ~uch
~ i±ema lhnt do not meet the abo~•e repmcentetionq nnd lhe cost of correcting anme, prior ko Auyeri+ occupAncy or not less then ten (10) dnye prior to dvsing,
j h ichPeer trcura ( ir.~t. Unlees Ru}•cc rcrartv Sir_h deficicncies a•ithin said periocl Reyer nhall'ae d~cmed to h:ace a•ni~•ed Seller'e rerresentation~ as to de(icien-
~ c i~? not rnported. In the event repnins or replncementn are rrquired, 3eller ehnll pny up l0 3'~+ of the purchASe price for euch repaira or replacement~ by en
i e~~mprintely licensed person. lio~•e~•er, if the covt Cor such repaire ar replacements exceed 376 of the purchase price. Buyer or Seller mny elect to pey euch
~ ~•xrraq feiling which either perty mny cencel this Contrect. !n the event Seller i~ uneble to correct the deficiencies prior to closing, lhe catt thered shel)
~ F~~ pnid into escmrv et closing. Seller eRrees to provide atililies eerviee for inRpeclion~ upnn rensonable notice. Between the F.ITective Dete end !he closing,
~ c~lier chall maintain the Prc~perty end iiervonnlfy including but not limited to lhe lewn nnd ehrubbery, in the condition herein repreaented, ordinery aear
r: r,~1 tenr eacepted. Ruqer ehnll he permitted ncceva ~or ins~ction of the Pmperty prior to cloatnq in order to rnnfirm compliance with the foregoing. The percen•
~ ia~e =et forih in lhia Stand:+rd rcg~rding lhe cewt of repnire or replncement rhnl) be exclu~ive o( the petcentege sel forth in Standard D above.
R19K OF IAS3: !f the improvment~ nre demnged F?y (ire or other casunlty priot to closing, and rnats o~ reetoring same dce+ not eaceed 3'16 d the purchnae
; r ice, coct of restorption ahell be on obli~ntion d the Seller end closing shell proceed pur~unnt to the lerme of Contrnet with cost lherefor escmwed at closing.
tr~ the e~•ent lhe cost of repnir or restorntinn eaceeds 37if~ d the purchn~e price, Buyer nhnll heve the option of either tnking the Property aa i~ together ~•ith
e ith~r the soid 37F or nny insurance p~oceeda pnynble by virtue deuch Io~+ or dmm~qq or dcancellinR Contract end receivinq teturn ddepa~it(e) mnde heteundec
~ P. f'ROCEBD3 OF SALB; CWSING PRUCEUURE: The deed ehall be recorded upon cleerance d funda. if en abstrect hea been provided aa evidence
~ ~f title, evidence of title Rhnll t.e:ontinued nl Ruyer'e e:penae to ahow title in 8uyer, wilhout eny encumbrencea or change whieh arould render Sellere tille
~ ~~nrnnrketable from tfie dete of the le9t evidence, end the proceed~ dthe anle shnll be held in eecrow by Seller's ettorney or by eueh other eacrosv agent es
~ rnny~ he mutually nqreed apon for e period of nol lonRer than five (6) dnys fmm end aRer clo~ing dete if Seller e title i~ rcndered umm~rketabl~ Buyer ahall
~ th in anid live (51 de}~ period, notify 5eller in writi~g of the defeet and Seller ahall have 30 deya frorn dete d reccip! d euch notitication to eure aaid defeet.
s i~~ th~ e cent Seller fnila to limely Cu?e +nid defcct, nll moniea peid hereunder rhnll, upon written demand therefor end within five (6) deye lhereaRer, be relurn-
~ ~~1 to f1u~•cr and, CIRIUI~AI1P0114Iy WIL~1 liUtFl t('(1RyttlPllf, BUyCTl1I19I) VAGl1LC LFIe CfOpCt~j~ 8h1~ /ECOt1Ve}~ S9tlfe ~D L~le .SCIIf~ ~ 6PCt18I WRfiBfl~y dCCd Btla iC~U~fl
! E;^ F`ersonelty. In the even Bayer fnils to make timely demnnd for tefund, $uyer ehell lake title ae in, welving ell righta ngnin~t Seller ea to auch intervening
~ ~?~fect ezcept ee mey be evnilnble to BupPr by virtue of wnrrnntie~, if nny, conlnined in the deed. ln the event e portion of the purcheae price ia to be derived
fr~m institutiona) finencing or refinnncing, the rrquireme~ta d the lendinq inatftotion es to plnce, time ddey end procedures for cla~ing. end for disbursement
~ cf m~rtgege proceedl ehall control nnything in lhi+Contract to the cantrery not~vith+tanding. Prvvided, hvwever, thet the Seller ahell heve the right to requlre
; fmm auch lending institution et clxinq a commit~nent that it will not withhold diabunsement of mortgage proeeeda aa e reault d any title defect ettributable
Etuper-morlgegor. TF~e escrow end closinQ procedure required by thia Slt+ndard mny be walved in !he event !he ettorney, tiNe egent or closing egent inauree
r:;~;;inst ad~•erse mwttet~ pvtaunnt to Section 627.T841 F. 3. (1987), as amended. Al) pmfea+iona) feea ehel) be pnid at time of diebursement.
> ESCRO^.': Any escn,w pgent receivinq funda or equivelent is authorized end agreea by acceptence thereaf to depo+it promptly end to hold eame in escmw
n r, d Quhject to cleerence thereof to disburae anme in accnrcionce with terms end conditiona o[ the Contract. Feilure of clearance of funds ehel) not exeuae perfor-
rrance by the Auyer. In ihe e~•ent d doubt a~ to escrow ~gente dutier or lipbilitiea under ihe provieiona ol'thie Contrect, the eecmw~ eRent may in aRent'e
1~ di.cretion, continue tn hold the euhject mntter of lhi~ escrow until the pertiea mutuelly egree to the disbun~emen! thereof, or until e judgment of a court
` c~mpetent juri.diclion rhell determine fhe right~ of the pnrtlee theretn, or ei+crow aRent mny depc~i! isame aith lhe clerk of the eircuit ceurt c+f the county
~ inR jarisdiction of the di~pule And upon notifyina all pnrtiea cancerned of euch ection all linbitily on the pnrt o~ the e:+crow egent ehell fulty terminate,
~ ~*.cept to the extent of accounling for eny ileme theretol'ore delivered out of eecrow. if e licensed renl eatsle broker, the eacrow agen! wil) comply w~ith provision~
~ ChApter 476, F. S. (19871, n~ emended. ln lhe event of any auit betwren Buyer and Seller wherein the eacrow ngent i~ mede e pe~ty by virlue d ecting
~ a n eserow agent hereunder, or in the event d eny suit wherein e~crow egent Interpleeda the eubject metter d this escrow, the egent ahall be entitled to
~ co~~er reasonnble attorneyb fee nnd cost~+ incurred fmm the deposiled fund~ end aafd fee~ and rnsts ehell be charged end aaaee~ed ee court eo+ta in fevor
~ thP pre~•aiHng parly and ngnin~t the IaainQ party. All pnrtiee nQrce thAt lhe eacmw ngent Rhol) nof be linble to eny pnrtq or pereon whoml+oever for miadeli~-ery
~ Ru}~er or Seller of item~ aubject to this ee+c~o~v, un1eQ. eoch mialeli~rry ahnll be doe lo willfid breach d this Contrnct or Rrvc~ negliqence on the part af the aR~nt.
It. ATTORNEY FEF.9; C03T3: in connection with eny litigation erieing out d thie Contrect, the preveiling party ehell be entitled ta retover reaeonable
~ ='.tnrneyb feee and costa
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