HomeMy WebLinkAboutCRA-R-24-0037 Exhibit AExhibit "A"
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"AS IS" Residential Contract For Sale And Purchase
THIS FORM HAS BEEN APPROVED BYTHE FLORIDA RsAL7mRaAND THE FLORIDA BAR
� Florida Realtors,,
|^/ �~"/u=|W�~.|u�.�
1° PARTIES: Roderickveceeo ("Sele/'),
e* and Soutbcat0vertownPark West CDA ('Buyer').
» agree that Seller ahoU sell and Buyer eheU buy the following described Real Property and Personal Property
4 (collectively "Property") pursuant to the henna and conditions of this AS IS Residential Contract For Sale And Purchase
o and any riders and addenda (^ConhaoC):
o 1. PROPERTY DESCRIPTION:
r° (o) Street addreoo, city. zip1940 NW 4tb Ct 3' Miami, FL 33136
o° (b)Located in: Miami -Dade County County, Florida. Property Tax |O#:.O13135U8306lO
a° (c) Real Property: The legal description is.TOWN PARK PLAZA NORTH CONDO UNIT 328 UNDry 1/169 INT IN
,o COMMON ELEMENTS OFF DEC%1368'O384coCz4326'z39V0l2nnn1
11
12 logathervwth all ax/udmQ improvements and hxtunaa, including built-in app|iancee, built-in furnishings and
13 attached wall-to-wall carpeting and flooring ("Real Property") unless specifically excluded in Paragraph 1 (e) or
1* byother terms ofthis Contract.
15 (d) Personal Property: Unless excluded inParagraph 1(e)orbyother terms nf this Contract, the following items
16 which are owned by Ga||er and existing on the Property as of the dote of the initial offer one included in the
17 purchase: rang e(a)/nven(a). nafrigerator(o), dishwasher(o) disposal, ceiling fon(a). |ightfixture(a). drapery rods
18 and draperies, blinds, window treatments, smoke detector(s), garage door opener(s), thermostat(s), doorbell(s),
19 television wall mount(u) and television mounting handwone, security gate and other access devices, mailbox
20 keym, and ohonnohuMars/aborm protection items and hardware ("Personal Property").
c,° Other Personal Property items included inthis purchase ana:.
ex
ox Personal Property is included in the Purchase Price, has no contributory value, and shall be left for the Buyer.
m° (o) The following items are excluded from the purchaae:.
25
zo PURCHASE PRICE AND CLOSING
zr° 2. PURCHASE PRICE (U.3.cunnncy), $�288,000
m,° (a) Initial deposit bzbeheld inescrow inthe amount cf (checks subject tmCollection) $.5'000
eo The initial deposit made payable and delivered to "Escrow Agent" named below
uv° (CHECK ONE): eaoffer or(ii)0 isbzbemade within a (if left blank,
31 then 3) days after Effective Date. IF NEITHER BOX IS CHECKED, THEN OPTION (ii)
oc SHALL BEDEEMED SELECTED.
xu° Escrow Agent Nome: Assure America Title Company
o*° Addrono:,158OUPines Blvd, Ste. 343.Pembroke Pines, FL3SO27 phone:954'362'5229
ao° Email: proceooiug@axsureanoededr|r.cnm Fe«:.954'233'1931
oo° (b) Additional deposit tobedelivered toEscrow Agent within (it left blank, then 1D)
or° days after Effective Date $.m/A
ao (All deposits paid or agreed to be paid, are collectively referred to as the "Deposit")
uo° (c) Financing: Express as o dollar amount orpercentage ("Loon Amount") see Paragraph 8 o
40^ (d)Othe $.N/A
w (e) Balance toclose (not including Buyer's closing onats, pnepoideand prorationo) by wire
m° transfer orother Collected funds (See STANDARD S) $eu1uoce
^o 3. TIME FOR ACCEPTANCE OFOFFER AND C{JUNTE0'OFFGRS;EFFECTIVE DATE:
w (m) If not signed by Buyer and Se||er, and an executed copy delivered to all parties on or before
45° 05/24/2034 , this offer mho|| be deemed withdrawn and the Depoeit, if any, shall be returned to
*e Buyer. Unless otherwise ntoted. time for acceptance of any counter-offers mho|| be within 2 days after the day
*r the counter-offer isdelivered.
*u (b) The effective date of this Contract shall be the date when the last one of the Buyer and Ge||nr has signed or
xe initialed and delivered this offer or final counter-offer ("Effective Date").
oo 4. CLOSING; CLOSING DATE: The closing of this transaction ahoU occur when all funds required for closing are
m received by Closing Agent and Collected pursuant to STANDARD Sand all closing documents required to be
5e furnished by each party pursuant hothis Contract are delivered ("Closing"). Un|oaa modified byother provisions of
Buyer's Initial
FloridaRealto
F� Page I of 13 Seller's Initials
C 2023norida Realtors(Dand The Florida Bar. All rights reserved. 24
oa this Contract, the Closing shall occur on 05/24/2024 ("Closing Dab*), at the time
s^ established bythe Closing Agent.
no 5. EXTENSION K}FCLOSING DATE:
oo (e) |nthe event Closing funds from Buyer's |endar(a)are not available onClosing Date due 0zConsumer Financial
or Protection Bureau Closing Disclosure delivery requirements (^CFPB Requirements"), if Paragraph 8(b) is
oo cheoked. Loan Approval has been obtained. and lender's underwriting is complete, then Closing Date shall be
59 extended for such period necessary to satisfy CFPB Roquinamento, provided such period shall not exceed 7
so days.
61 (b) If an event constituting "Force Majeure" causes services essential for Closing to be unavailable, including the
az unavailability ofutilities nrissuance ofhazard, wind, flood or homeowners' insurance, Closing Date shall be
ao extended auprovided inSTANDARD G.
64 G. OCCUPANCY AND POSSESSION:
es (a) Unless Paragraph 6(b) is checked, Seller shall, at Closing, deliver occupancy and possession of the Property
oa to Buyer free of tenants, occupants and future tenancies. Also, at Closing, Seller shall have removed all
sr personal items and trash from the Property and shall deliver all keys, garage door openers, access devices and
oo codes, as applicable, to Buyer. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss
ea to the Property from date of occupancy, shall be responsible and liable for maintenance from that doho, and
m shall have oncmpbad the Property in its existing condition as of time of taking occupancy, see Rider PRE'
r1 CLOSING OCCUPANCY BY BUYER.
ru (b) [lCHECN[ IF PROPERTY IS SUBJECT TO LEASE(S) OR OCCUPANCY AFTER CLOSING. If Property is
ro subject toe lease(s) or any occupancy agreements (including seasonal and short-term vacation rentals) oMar
74 Closing or is intended to be rented or occupied by third parties beyond C|osing, the facts and terms thereof
ro shall be disclosed in writing by Seller to Buyer and copies of the written lease(s) shall be delivered to Buyer, all
ra within 5 days after Effective Date. If Buyer determines, in Buyer's sole discretion, that the lease(s) or terms of
rr occupancy are not acceptable to Buyer, Buyer may terminate this Contract by delivery of written notice of such
rn election to Seller within 5 days after receipt ofthe above items from SaUor. and Buyer ohm|| be refunded the
ro Deposit thereby releasing Buyer and Seller from all further obligations under this Contract. Estoppel Latter(a)
oo and Seller's affidavit shall beprovided pursuant tnSTANDARD O.except that tenant Estoppel Letters shall not
81 be required on seasonal orshort-term vacation rentals. If Property is intended to be occupied by Seller after
ou Closing, see Rider U POST -CLOSING OCCUPANCY BY SELLER.
83° 7. ASS|GNAB|L|Tf:(CHECKONE):Buyo/[:]moynooignandtherebybara|eooadfrumanyfurther|iabi|ityunder
84^ this Contract; [] may assign but not bereleased from liability under this Contract; orlZmay not assign this Contract.
ao IF NO BOX IS CHECKED, THEN BUYER MAY NOT ASSIGN THIS CONTRACT.
86 FINANCING
m 8. FINANCING:
88^cashfinancing contingency.
oo° is Contract (if left blank, Date ("Loan
oo^ Approval Period"): (1) Buyer obtaining approval cfa| Yuonwantiona|
v,° (describe) mortgage loan for purchase of the Property for o (CHECK ONE): [] fixed, [:]acjumtob|e. �7fixed or
�
oz* adjustable rate in the Loan Amount (See Paragraph 2(c)), at an initial interest rate not to exceed --% (if left
oo^ b|ank, then prevailing rate based upon Buyer's creditworthiness), and for aterm of (if left blank, then 30)
o* years ("Financing"); and (2) Buyer's mortgage broker or lender having received an appraisal or alternative valuation
oo of the Property satisfactory to lender, if either is required by lender, which is sufficient to meet the terms required
ao for lender to provide Financing for Buyer and proceed to Closing ("Appraisal").
or° (i) Buyer shall make application for Financing within (if left blank, then 5) days after Effective Date
ou and use good faith and diligent effort to obtain approval of loan meeting the Financing and Appraisal terms of
oo Paragraph 8(b)(1) and (2). above. (^LuanAppnovo|^)within the Loan Approval Period and, therea#er, to close this
100 Contract. Loan Approval which requires Buyer to oe|| other real property shall not be considered Loan Approval
101 unless Rider Vivattached.
102 Buyer's failure to use good faith and diligent effort toobtain Loan Approval during the Loan Approval Period shall
103 bnconsidered adefault under the terms ofthis Contract. For purposes cfthis provision, "diligent effort" includes,
104 but is not limited to, timely furnishing all documents and information required by Buyer's mortgage broker and lender
105 and paying for Appraisal and other fees and charges in connection with Buyer's application for Financing.
106 (ii) Buyer ahaU, upon written request, keep Seller and Broker fully informed about the status of Buyer's
mr mortgage loan application, loan processing, appraisal, and Loan Approval, including any Property related conditions
mo ofLoan Approval. Buyer authorizes Buyer's mortgage broker, lender, and Closing Agent to disclose such status
Buyer's Initials
plongaRealtor
Page 2 of 13 Seller's Initials
'e^r/2a@cuzaFlorida neakoo@and The Florida Bar. All rights reserved.
mn,/24
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109 and progress and release preliminary and finally executed closing disclosures and settlement statements, as
110 appropriate and allowed, bzSeller and Broker.
ill (iii) If within the Loan Approval Period, Buyer obtains Loan Approval, Buyer shall notify Seller of same in writing
112 prior to expiration of the Loan Approval Period; or, if Buyer is unable to obtain Loan Approval within Loan Approval
/m Period but Buyer is satisfied with Buyer's ability to obtain Loan Approval and proceed to Closing, Buyer shall deliver
114 written notice hoSeller confirming same, prior tothe expiration ofthe Loan Approval Period.
115 (iv) |fBuyer io unable to obtain Loon Approval within the Loan Approval Period, nrcannot timely meet the
116 terms of Loan Approval, all after the exercise of good faith and diligent effort, Buyer may terminate this Contract by
117 delivering written notice of termination to Seller prior to expiration of the Loan Approval Period; whereupon, provided
118 Buyer is not in default under the terms of this Contract, Buyer shall be refunded the Deposit thereby releasing Buyer
119 and Seller from all further obligations under this Contract.
120 (v) |fBuyer fails to timely deliver any written notice provided for in Paragraph 8(b)(iii) or (iv), above, to Seller
121 prior to expiration of the Loan Approval Period, then Buyer uheU proceed hznmmnd with this Contract as though
122 Paragraph 8(a), above, had been checked as of the Effective Date; provided, however, Seller may elect to terminate
123 this Contract by delivering written notice of termination to Buyer within 3 days after expiration of the Loan Approval
124 Period and, provided Buyer is not in default under the terms of this Contract, Buyer shall be refunded the Deposit
125 thereby releasing Buyer and Seller from all further obligations under this Contract.
126 (vi) |fBuyer has timely provided either written notice provided for in Paragraph Ob(iii), above, and Buyer
127 thereafter fails tuclose this Contract, the Deposit shall be paid to Seller unless failure 0yclose iadue to: (1) Seller's
128 default or inability to oadoƒy other contingencies of this Contract; or (2) Property ny|cded conditions of the Loan
12e Approval (specifically excluding the Appraisal valuation) have not been met unless such conditions are waived by
130 other provisions of this Contract; in which event(s) the Buyer shall be refunded the Deposit, thereby releasing Buyer
131° and Seller from all further obligations under this Contract.
132° (c)Assumption ofexisting mortgage (see Rider Dfor harmo).
,`o (d)Purchase money note and mortgage toSeller (see Rider Cfor harme).
134 CLOSING COSTS, FEES AND CHARGES
,xn S. CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS:
136 (o) COSTS TOBEPAID BY SELLER:
,`r ^ Documentary stamp taxes and surtax ondeed, ifany ^HO/VCondominiumAssociation estoppel fees
138 ^ Owner's Policy and Charges (if Paragraph 8(o)(i)iochecked) ^ Recording and other fees needed tocure title
139 ^ Title search charges (if Paragraph 0(o)(iii)iechecked) ^ Seller's ettornoya'foeo
wn° ^ Municipal lien search (if Paragraph 8(c)(i)or(iii)iochecked) ^Othac.
1*1 ^ Charges for F|RPTAwithholding and reporting
142 If, prior to Closing, Seller is unable to meet the AS IS Maintenance Requirement as required by Paragraph 11,
wo a sum equal to 12596 of estimated costs to meet the AG IS yNeinhananms Requirement shall be escrowed at
1** Closing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shall pay
wn such actual costs. Any unused portion of escrowed amount(s) shall be returned to Seller.
`^w (b)COSTS TOBEPAID BYBUYER:
`w ^ Taxes and recording fees onnotes and mortgages ^ Loan expenses
148 ^ Recording fees for deed and financing statements ^ Appraisal fees
1e , Owner's Policy and Charges (if Paragraph 8(c)(ii)iochecked) , Buyer's Inspections
150 ^ Survey (and elevation certification, if required) ^ Buyer's attorneys' fees
151 ^ Lender's title policy and endorsements ^ All property related insurance
152 ^HO/VCnnduminiumAssociation application/transfer fees ^ Owner's Policy Premium (if Paragraph
153 ^ Municipal lien search (if Paragraph 9(c)(ii)iechecked) Q(o)(iii)iochecked)
154° ^(]ther: ' Elite Transaction Fee: $595.00
155° (c) TITLE EVIDENCE AND INSURANCE: At |eaot1s (if left blank, than 15. orifParagraph 8(o) is checked,
15e then 5) days prior to Closing Date ("Title Evidence Deadline"), a title insurance commitment issued by a Florida
157 licensed title insurer, with legible copies of instruments listed as exceptions attached thereto ("Title
158 Commitment") and. after C|ooing, an owner's policy of title insurance (see STANDARD Afor terms) shall be
15e obtained and delivered to Buyer. If Seller has on owner's policy of title insurance covering the Roo| Pmperty,
160 Seller shall furnish a copy to Buyer and Closing Agent within 5 days after Effective Date. The owner's title policy
161 prmmium, title search and closing services (collectively, "Owner's Policy and Charges") shall be paid, as set
162 forth below. The title insurance premium charges for the owner's policy and any lender's policy will be calculated
163 and o||000bed in accordance with Florida |mw, but may be reported differently on certain federally mandated
1e4 closing disclosures and other closing documents. For purposes ofthis Contract "municipal lien search" means a
Buyer's Initials j L Page am1s Seller's Initials
Flonuaneun m--* e...'-A IS-6nm7/2n@uuuuFlorida neauursOand The Florida Bar. All rights reserved. x����
165 search of records necessary for the owner's policy of title insurance tobaissued without exception for unrecorded
166 liens imposed pursuant to Chapters 153, 159 or 170, F.S., in favor of any governmental body, authority or agency.
167(CHECK ONE):
1e8° LJ (i) Seller shall designate Closing Agent and pay for Owner's Policy and Charges, and Buyer shall pay the
me* premium for Buyer's lender's policy and charges for closing eemimaa related to the lender's po|ioy,
no endorsements and loan c|ouing, which amounts aheU be paid by Buyer to Closing Agent or such other
171 provider(s) as Buyer may select; or
172° [](U) Buyer shall designate Closing Agent and pay for Owner's Policy and Charges and charges for closing
173 services related to Buyer's lender's policy, endorsements and loan closing; or
174° 0 (iii) [MIAMI-DADE/BROWARD REGIONAL PROVISION]: Buyer shall designate Closing Agent. Seller shall
175° furnish a copy of prior owner's policy of title insurance or other evidence of title and pay fees for: (A) e
175 continuation or update of such title avidanne, which is acceptable to Buyer's title insurance underwriter for
nr reissue of coverage; (B) tax search; and (C) municipal lien search. Buyer shall obtain and pay for post -Closing
178 continuation and premium for Buyer's owner's policy, and if applicable, Buyer's lender's policy. Seller shall not
179° be obligated to pay more than $. (if left blank, then $200.00) for abstract continuation or title
180 search ordered orperformed byClosing Agent.
181 (d) SURVEY: At least days prior boClosing Date. Buyer may, at Buyer's expense, have the Roo| Property
182 surveyed and certified by o registered Florida surveyor ("Survey"). If Seller has a survey covering the Real
,oa Property, ocopy shall be furnished to Buyer and Closing Agent within 5dayo after Effective Date.
1/4° (e) H[>YNE WARRANTY: At CkzeinO' [] BuyerF7 Seller R]m/A shall pay for o home warranty plan issued by
,�o~ atacost not bzexceed $_ .Ahome
186 warranty plan provides for repair orreplacement ofmany of home's mechanical aymhome and major built-in
187 appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period.
188 (f) SPECIAL ASSESSMENTS: At Closing, Seller shall pay: (i) the full amount ofliens imposed by a public body
189 ("public body" does not include Condominium orHomeowner's Association) that are oortifiod, confirmed and
/on ratified behzna Closing; and (ii) the amount of the public body's most recent estimate or assessment hu/mn
191 improvement which is aubabynUa||y complete as of Effective Dobs, but that has not resulted in a lien being
,vo imposed on the Property before Closing. Buyer shall pay all other assessments. If special assessments may
,yu be paid in installments (CHECK DNE):
194° [](a) Seller shall pay installments due prior bzClosing and Buyer shall pay installments due after Closing.
,on Installments prepaid ordue for the year ofClosing shall bmprorated.
196^ [Z(b)Seller shall pay, in full, prior to or at the time of Closing, any assessment(s) allowed by the public body
1e7 to be prepaid. For any aaeeooment(o)which the public body does not allow prepayment, OPTION (a) ahoU be
198 deemed selected for such ommaaoment(o).
199 IF NEITHER BOX |GCHECKED, THEN OPTION (a)SHALL BE DEEMED SELECTED.
uno This Paragraph Q(f) shall not apply bya special benefit tax lien imposed byacommunity development district
201 (CDD) pursuant hzChapter 190. F.S., or special assessment(s) imposed by e special district pursuant to
cou Chapter 189, F.S., which lien(s) or assessment(s) shall be prorated pursuant to STANDARD K.
nm
DISCLOSURES
mm 10LOISCLOSURES:
oon (o) RADON GAS: Radon is o naturally occurring radioactive gay that, when it is accumulated in a building in
unn sufficient quantities, may present health haka to persons who are exposed to itover time. Levels of radon that
207 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding
oon radon and radon testing may beobtained from your county health department.
sm (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, Seller
e10 does not know of any improvements made to the Property which were made without required permits or made
211 pursuant to permits which have not been properly closed or otherwise disposed of pursuant to Section 553.79,
212 F.S. |fSeller identifies permits which have not been closed o,improvements which were not permitted, then
e13 Seller shall promptly deliverto Buyerall plans, written documentation or other information in Seller's possession,
ow knmw|edge, or control relating to improvements to the Property which are the subject cfsuch open permits or
215 unpemnittedimpmvemento.
216 (c) MOLD: Mold is naturally occurring and may cause health risks ordamage to property. |fBuyer iaconcerned or
zn desires additional information regarding mo|d. Buyer should contact an appropriate professional.
218 (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer ioadvised to verify by elevation certificate which flood
219 zone the Property is in, whether flood insurance is required by Buyer's |onder, and what restrictions apply to
220 improving the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area"
Buyer's Initials ������ � L Page ^mm Sellers Initials
rwnuaeauxom—�cr�--,.r/2u0unu3Florida ReaunrsOand The Florida Bar. All rights reserved. n:���
zm or "Coastal Barrier Resources Act" designated area or otherwise protected area identified by the U.S. Fish and
zo Wildlife Service under the Coastal Barrier Resources Act and the lowest floor elevation for the bui|ding(o)and/or
zzo flood insurance rating purposes is below minimum flood elevation or is ineligible for flood insurance coverage
cm through the National Flood Insurance Program or private flood insurance as defined in 42 U.S.C. §4012o.Buyer
uxn° may terminate this Contract bydelivering written notice toSeller within (if left blank, then 2O)days after
czo Effective Date, and Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further
xz, obligations under this Contnact, failing which Buyer accepts existing elevation of buildings and flood zone
228 designation ofProperty.
oo (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida E nergy- Efficiency Rating Information Brochure
cau required by Section 553.996. F.G.
um LEAD -BASED PAINT: If Property includes pre-1978 residential housing, a lead -based paint disclosure is
znu mandatory.
233 (g) HOMEOWNERS' ASSOCIATION/COMM UNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS
eo^ CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS'
xoo ASGQC|AT|ON/COK8K0UN|TYDISCLOSURE, UFAPPLICABLE.
uoo (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT
zor PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO
238 PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY
uoo IMPROVEMENTS TR|GGER8'REAS8ESOW1ENT8OFTHE PROPERTY THAT COULD RESULT IN HIGHER
u*o PROPERTY TAXES, IF YOU HAVE ANY QUESTIONS CONCERNING VALUAT|ON, CONTACT THE
ew COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION.
u^c (i) FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("F/RPTA"): Seller shall inform Buyer in writing if
u*o Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax Act (^F|RPTA^). Buyer
24* and Seller shall comply with F|RPTA, which may require Seller to provide additional uooh at Closing. If Seller
245 is not "foreign person", Seller can provide Buyer, at or prior to C|oeing, a certification ofnon'foreign atatua,
mo under penalties of perjury, to inform Buyer and Closing Agent that no withholding is required. See STANDARD
mr Vfor further information pertaining to F|RPTA. Buyer and Seller are advised to seek legal counsel and tax
z^o advice regarding their respective righta, ob|igabnnm, reporting and withholding requirements pursuant to
c*o F|RPTA.
cnu SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are
251 not readily obuon/ab|a and which have not been diuo|uaad to Buyer. Except as provided for in the preceding
unx oentenue. Seller extends and intends no warranty and makes no representation of any 1ype, either express or
uon imp|ied, as to the physical condition or history of the Property. Except as otherwise disclosed in writing Seller
254 has received no written or verbal notice from any governmental entity or agency as to acurronUy uncorrected
255 bui|ding, environmental orsafety code violation.
uoo PROPERTY MAINTENANCE, C0NO|T|{JN. INSPECTIONS AND EXAMINATIONS
unr 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Lome. Seller shall maintain the
zno Property' including, but not limited to, |awn, mhrubbery, and poo|, inthe condition existing ooufEffective Date ("AS
esy IS Maintenance Requirement"). See Paragraph 9(a) for escrow procedures, if applicable.
om 12.PROPERTY INSPECTION; RIGHT TQCANCEL:
261 (a) PROPERTY INSPECTIONS AND RIGHT T0CANCEL: Buyer shall have (if left blank, thenf5)
262 days after Effective Date ("Inspection Period") within which to have such inspections of the Property
263 performed as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's mo6o
264 discretion, bhatthmPmqmertyimnotmcoepteb/e6oBuyer, Buyer may terminate this Contract by delivering
oms written notice of such election to Seller prior to expiration of Inspection Perioxi If Buyer timely
xoa terminates this Contract, the Deposit paid shall bereturned bxBuyer, thereupon, Buyer and Seller shall
uor be released of all further obligations under this Contract; however, Buyer shall be responsible for
2e8 pro/nptpeymmntforsuch/mapectimns,forreoairofdannage to, and restoration of, the Property resulting
oee from such inspections, and shall provide Seller with paid receipts for all work done onthe Property (the
um preceding provision shall survive termination of this Contract). Unless Buyer exercises the right to
271 terminate granted herein, Buyer accepts the physical condition of the Property and any violation of
uxz governmental, building, environmental, and safety codes, restrictions, orrequirements, but subject bo
273 Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any and all
em repairs and improvements required by Buyer's lender.
Buyer's Initials k Page 5 of 13 Seller's Initials
Fmridameau rs+/vnooua�-As::x�ev.nzo0 202oFlorida noanomQDand The Florida Bar, All rights reserved,
275 (b) WALK-THROUGH |NSPECT|0N/RE-INSPECT0N.Onthe day prior toClosing Date, oronClosing Date prior
on to time of Cboing, as specified by Buyer, Buyer or Buyer's representative may perform a walk-through (and
urr follow-up wo|k-through, if necessary) inspection of the Property solely to confirm that all items of Personal
zro Property are onthe Property and toverify that Seller has maintained the Property as required bythe AS IS
uro Maintenance Requirement and has met all other contractual obligations.
280 (c) SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS: If Buyer's inspection
281 of the Property identifies open or needed building permits, then Seller shall promptly deliver to Buyer all plans,
282 written documentation or other information in Seller's poaoeooion, knuw|edge, or oonbn| relating to
283 improvements to the Property which are the subject nfsuch open or needed panniba, and shall promptly
oa* cooperate in good faith with Buyer's efforts to obtain estimates of repairs or other work necessary to resolve
285 such permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary authorizations,
zoo conoents, orother documents necessary for Buyer to conduct inspections and have estimates of such repairs
zm or work prepared, but in fulfilling such obligation, Seller shall not be required to expend, or become obligated to
000 expend, any money.
eoa (d)ASSIGNMENT OFREPAIR AND TREATMENT CONTRACTS AND WARRANTIES: A1Buyer's option and
uoo oost. Seller will, at C|uoing, assign all assignable nepair, treatment and maintenance contracts and warranties
291 to Buyer.
292
ESCROW AGENT AND BROKER
293 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively "Agent") receiving the Deposit, other funds
nw and other items is outhohzad, and agrees by acceptance of them, to deposit them pvompUy, hold same in escrow
uoo within the State ofFlorida and, subject to Collection, disburse them in accordance with terms and conditions of this
unn Contract. Failure of funds to become Collected shall not excuse Buyer's performance. When conflicting demands
,vr for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent may take such
uoo actions permitted by this Paragraph 13. as Agent deems advisable. If in doubt as to Agent's duties or liabilities
299 under this Contract, Agent may, at Agent's option, continue to hold the subject matter of the escrow until the parties
unu agree to its disbursement or until a final judgment of a court of competent jurisdiction shall determine the rights of
301 the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute. An
nno attorney who represents a party and also acts as Agent may represent such party in such action. Upon notifying all
303 parties concerned of such action, all liability on the port of Agent shall fully bannina0e, except to the extent of
nm accounting for any items previously delivered out of escrow. If a licensed real estate broker, Agent will comply with
000 provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve escrow disputes through mediation,
oos arbitration, in0orp|eadarornnescrow disbursement order.
nnr In any proceeding between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder,
308 or in any proceeding where Agent inUarp|amda the subject matter ofthe eoomw. Agent oho|| recover reasonable
one ottorney'ofees and costs incurred, tobapaid pursuant tocourt order out nf the escrowed funds orequivalent. Agent
310 shall not be liable to any party or person for mis-delivery of any escrowed items, unless such mis-delivery is due to
311 Agent's vvi||ful broach of this Contract or Agent's gmao negligence. This Paragraph 13 shall survive Closing or
31e termination of this Contract.
mx 14. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify Property oondiUun,
314 square fonbage, and all other facts and representations made pursuant to this Contract and to consult appropriate
315 professionals for legal, bax, envinonmenta|, and other specialized advice concerning matters affecting the Property
316 and the transaction contemplated by this Contract. Broker napnaoento to Buyer that Broker does not reside on the
317 Property and that all representations (ona|, written or otherwise) by Broker are based on Seller representations o/
318 public naonvda. BUYER AGREES TO RELY SOLELY ON SELLER. PROFESSIONAL INSPECTORS AND
319 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND
»uo FACTS THAT MATERIALLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL,
321 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (individually, the "Indemnifying Party") each
322 individually indamnifiea, holds harm|ema, and releases Broker and Broker's offiuere, direchzra, agents and
uzn employees from all liability for loss or damage, including all costs and expenses, and reasonable attorney's fees at
om all levels, suffered or incurred by Broker and Broker's officers, directors, agents and employees in connection with
325 or arising from c|oimo, demands or causes of action instituted by Buyer or Seller based on: (i) inaccuracy of
326 information provided by the Indemnifying Party orfrom public records; (ii) Indemnifying Porty'o misstatement(s) or
327 failure to perform contractual obligations; (iii) Broker's performance, at Indemnifying Party'o nequeat, of any task
328 beyond the scope of nomioea regulated by Chapter 475. F.G., as amended. including Broker's referna|,
oee recommendation or retention of any vendor for, or on behalf of, Indemnifying Party; (iv) products or services
auo provided by any such vendor for, or on behalf of, Indemnifying Party; and (v) expenses incurred by any such vendor.
Buyer's Initial
Floridamealto,
F-1 Page 6 of 13 Seller's Initials
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331 Buyer and Seller each assumes full responsibility for selecting and compensating their respective vendors and
nuu paying their other costs under this Contract whether nrnot this transaction closes. This Paragraph 14will not relieve
333 Broker ofstatutory obligations under Chopter475. F.S., as amended. For purposes of this Paragraph 14, Broker
334 will be treated as a party to this Contract. This Paragraph 14 shall survive Closing or termination of this Contract.
335
DEFAULT AND DISPUTE RESOLUTION
336 15.DEFAWLT:
337 (a) BUYER DEFAULT: If Buyer fei|o, neglects or refuses to perform Buyer's obligations under this Controu,
000 including payment of the Deposit, within the time(s) specified, Seller may elect to recover and retain the Deposit
nno for the account of Seller as agreed upon liquidated damages, consideration for execution of this Contract, and
o*n in full settlement of any claims, whereupon Buyer and Seller shall be relieved from all further obligations under
n*/ this Contract, or Seller, at Sellers o[tion, may. pursuant to Paragraph 16. proceed in equity toenforce Seller's
342 rights under this Contract. The portion of the Deposit, if any, paid to Listing Broker upon default by Buyer, shall
cwo be split equally between Listing Broker and Cooperating Broker-, provided however, Cooperating Broker's share
34* shall not be greater than the commission amount Listing Broker had agreed to pay to Cooperating Broker.
345 (b) SELLER DEFAULT: If for any reason other than failure of Seller to make Seller's UUn marketable after
o*o reasonable diligent effort. Seller fails, neglects or refuses to perform Seller's obligations under this Contract,
347 Buyer may elect toreceive return ofBuyer's Deposit without thereby waiving any action for damages resulting
348 from Seller's breoch, and. pursuant to Paragraph 18, may seek to recover such damages or seek specific
u*e performance.
350 This Paragraph 15 uhe|| survive Closing or termination of this Contract.
351 16. DISPUTE RESOLUTION: Unresolved controversies, claims and other matters in question between Buyer and
noe Seller arising out of, or relating to, this Contract or its breach, enforcement or interpretation ("Dispute") will be settled
om as follows:
um (a) Buyer and Seller will have 10 days after the date conflicting demands for the Deposit are made to attempt to
oo* resolve such Diopute, failing which. Buyer and Seller shall submit such Dispute to mediation under Paragraph
ase 1G(b).
osr (b) Buyer and Seller shall attempt to settle Disputes in an amicable manner through mediation pursuant to Florida
oou Rules for Certified and Court -Appointed Mediators and Chapter 44, F.S., as amended (the "Mediation Rules").
o*o The mediator must be certified or must have experience in the nsa| estate industry. Injunctive relief may be
osn sought without first complying with this Paragraph 16(b). Disputes not settled pursuant to this Paragraph 16
361 may be resolved by instituting action in the appropriate court having jurisdiction of the matter. This Paragraph
soz 18shall survive Closing ortermination nfthis Contract.
non 17. ATTC)RNEY'S FEES; COSTS: The parties will split equally any mediation fee incurred in any mediation permitted
364 by this Controot, and each party will pay their own 000ta, expenses and feau, including sMorney'afeau. incurred in
oos conducting the mediation. In any litigation permitted by this Contract, the prevailing party shall be entitled to recover
366 from the non -prevailing party costs and haeo, including reasonable ottorney'o feeo, incurred in conducting the
nnr litigation. This Paragraph 17 shall survive Closing or termination of this Contract,
mm
STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANQARDS")
369 18.STANOAROS:
370 A. TITLE:
z,, (0 TITLE EVIDENCE; RESTRICTIONS; EASEMENTS; L|&8RAJ'|ON8: Within the time period provided in
mz Paragraph 9(c), the Title Commitment, with legible copies of instruments listed as exceptions attached thereto, shall
ara be issued and delivered to Buyer. The Title Commitment shall set forth those matters to be discharged by Seller at
374 or before Closing and ahoU provide that, upon recording of the deed to Buyer, an owner's policy of title insurance
mo in the amount of the Purchase Price, shall be issued to Buyer insuring Buyer's marketable title to the Real Property,
oro subject only to the following matters: (a) comprehensive land use p|ans, zoning, and other land use restrictions,
on prohibitions and requirements imposed bygovernmental authority; (b) restrictions and matters appearing onthe
am Plat orotherwise common to the subdivision; (c) outstanding ni|, gas and mineral rights of record without right of
oro entry; (d) unplatted public utility easements of record (located contiguous to real property lines and not more than
;oo 10 haat in width as to rear orfront lines and 7 1/2 feet in width as to side lines); (a) taxes for year of Closing and
uu, subsequent years; and (f) assumed mortgages and purchase money mortgages, if any (if additional items, attach
382 addendum); provided, that, none prevent use of Property for RESIDENTIAL PURPOSES. If there exists at Closing
383 any violation of items identified in (b) — (f) above, then the same shall be deemed a title defect. Marketable title shall
no* be determined according to applicable Title Standards adopted by authority of The Florida Bar and in accordance
385 with law.
Buyer's Initials
Florm neaito
F-1 Page 7 of 13 Seller's Initials
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dodoop verified
STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANQAR0S")CONTINUED
mm (ii) TITLE EXAMINATION: Buyer shall have 5 days after receipt of Title Commitment to examine it and notify Seller
xm in writing specifying defect(s), if any, that render title unmarketable. If Seller provides Title Commitment and it is
ueo delivered to Buyer |eau than 5 days prior to Closing Date, Buyer may extend Closing for upto 5 days after date of
nno receipt to examine same in accordance with this STANDARD A. Seller shall have 30 days ("Cure Period") after
oy, receipt cfBuyer's notice hotake reasonable diligent efforts hzremove defects. |fBuyerhsi|ot000nodfySe||er.Buyer
391 shall be deemed to have accepted bt|o as it then is. If Seller cures defects within Cure Period. Seller will deliver
oau written notice to Buyer (with proof of cure acceptable to Buyer and Buyer's attorney) and the parties will close this
oyu Contract on Closing Date (or if Closing Date has passed, within 10 days after Buyer's receipt ofSeller's noUce).|f
oo* Seller is unable to cure defects within Cure Period, then Buyer may. within 5 days after expiration of Cure Poriod,
xno deliver written notice to Seller: (a) extending Cure Period for a specified period not to exceed 120 days within which
oae Seller shall continue to use reasonable diligent effort to remove or cure the defects ("Extended Cure Period''); or
xor (b) electing to accept title with existing defects and close this Contract on Closing Date (or if Closing Date has
398 passed, within the earlier of 10 days after end of Extended Cure Period or Buyer's receipt of Seller's notice), or (c)
voo electing to terminate this Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all
400 further obligations under this Contract. If after reasonable diligent effort, Seller is unable to timely cure defects, and
401 Buyer does not waive the defects, this Contract shall terminate, and Buyer shall receive a refund of the Deposit,
*ox thereby releasing Buyer and Seller from all further obligations under this Contract.
^ox B. SURVEY, If Survey discloses encroachments on the Real Property or that improvements located thereon
404 encroach on setback |ineo, easements, or lands of others, or violate any reatriotiono, covenants, or applicable
405 governmental regulations described in STANDARD A (i)(a). (b) or (d) above. Buyer shall deliver written notice of
406 such mattenu, together with e copy of Survey, to Seller within 5 days after Buyer's receipt ofSurvey, but no later
407 than Closing. |fBuyer timely delivers such notice and Survey to GeUer, such matters identified in the notice and
*no Survey shall constitute o title dehact, subject to cure obligations ofSTANDARD Aabove. If Seller has delivered a
40e prior oumey. Seller shall, at Buyer's request, execute on affidavit of "no change" to the Real Property since the
410 preparation of such prior survey, to the extent the affirmations therein are true and correct.
411 C. INGRESS AND EGRESS: Seller represents that there iuingress and egress hothe Real Property and title to
412 the Real Property is insurable in accordance with STANDARD A without exception for lack of legal right of access.
^,n D. LEASE INFORMATION: Seller shall, at least 10 days prior to C|ooing, furnish to Buyer estoppel letters from
*14 tenont(o)/nncupont(a) specifying nature and duration of ocoupanoy, rental nytee, advanced rent and security
415 deposits paid by tenant(s) oroccupont(u)(''Estoppel Latter(o)''). If Seller is unable tuobtain such Estoppel Letter(n)
416 the same information shall be furnished by Seller to Buyer within that time period in the form of a Seller's affidavit
wr and Buyer may thereafter contact tonant(o) oroccupant(a) to confirm such information. If Estoppel Letter(o) or
*18 Seller's affidavit, if any, differ materially from Seller's representations and lease(s) provided pursuant to Paragraph
wa 8, or if tonent(o)/ocoupont(e) fail or refuse toconfirm Seller's affidavit. Buyer may deliver written notice to Seller
«m within 5 days after receipt of such inhznnedion, but no later than 5 days prior to Closing Dabs, terminating this
*e1 Contract and receive a refund of the Deposit, thereby releasing Buyer and Seller from all further obligations under
^uu this Contract. Seller shall, at C|ooing, deliver and assign all |eooma to Buyer who shall assume 8a||er'a obligations
ozx thereunder.
*e4 E. LIENS: Seller shall furnish to Buyer at Closing an affidavit attesting (i) to the absence of any financing
*en statement, claims oflien or potential |ienoro known to Seller and (ii) that therm have been no improvements or
xzu repairs to the Real Property for OO days immediately preceding Closing Date. If the Real Property has been
mr improved or repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all
*co general contnao0zru, subcontnootoro, suppliers and moderia|men in addition to Seller's lien affidavit setting forth
429 names of all such general contractors, subcontractors, suppliers and materialmen, further affirming that all charges
*no for improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been
*31 paid or will be paid at Closing.
*ou F. TIME: Time is of the essence in this Contract. Calendar days, based on where the Property is located, shall
^`a be used in computing time periods. Other than time for acceptance and Effective Date as set forth in Paragraph 3,
434 any time periods provided for ordates specified in this Contraut, whether pnoprinhed, handwritten, typewritten or
435 inserted harain, which ahe|| end oroccur on a Saturday, Sunday, national |ogo| public holiday (as defined in 5
*ue U.S.C. Sec. 6103(a)), or a day on which a national legal public holiday is observed because it fell on a Saturday or
^nr Sunday, shall extend to the next calendar day which is not Saturdoy. Sunday. national legal public holiday, or
*38 day onwhich anational legal public holiday iaobserved.
*no G. FORCE 88AJEURE: Buyer or Seller shall not be required to exercise or perform any right orobligation under
440 this Contract or be liable to each other for damages so long as performance or non-performance of the right or
441 obligation, or the availability of services, insurance, or required approvals essential to Closing, is'disrupted, delayed,
Initials. ~' Page om1V Seller's |nmv
Florida Rea Ito ,s�-mrmoua-xM�x-��".nzoCzuznFlorida noauvrsmand The Florida Bar. All rights reserved.
STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANOARDS")CONTINUED
*u caused or prevented bye Force N1ajounoevanL "Force N1cjoure" means: hurricanes, floods, extreme weather,
^wo earthquakea, finan, or other acts of God, unusual transportation de|oya, wore, insurrections, civil unrest, or acts of
*** harnohom, governmental actions and mandobm, government shut dmwna, epidomico, or pondemico, which, by
zws exercise of reasonable diligent effort, the non -performing party is unable in whole or in part toprevent orovercome.
^^s The Force Majeure event will be deemed to have begun on the first day the effect of the Force Majeure prevents
*n performance, non-performance, or the availability of services, insurance or required approvals essential to Closing.
we All time periods affected by the Force K1o]eurnovent. including Closing Date, will be extended o reasonable time
*49 up to 7 days after the Force Majeure event no longer prevents performance under this Contract; provided, however,
*50 if such Force N1ajmure event continues to prevent performance under this Contract more than 30 days beyond
451 Closing Dato, then either party may terminate this Contract bydelivering written notice tothe other and the Deposit
*52 shall be refunded to Buyer, thereby releasing Buyer and Seller from all further obligations under this Contract.
453 H. CONVEYANCE: Ge||or shall convey marketable title to the Real Property by statutory warranty, trustee's,
*m personal repreeenhative'a, or guardian's deed, as appropriate to the status of Ge||ar, subject only to matters
*55 described in STANDARD A and those accepted by Buyer. Personal Property eha||, at request of Buyer, be
*oo transferred by absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this
*57 Contract.
*on |. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE:
*on (i) LOCATION: Closing will be conducted by the attorney orother closing agent ("Closing Agent") designated by
*oo the party paying for the owner's policy of title insurance and will take place in the c6unty where the Real Property
461 is located at the office of the Closing Agent, or at such other location agreed to by the parties. If there is no title
462 inaunonoo. Seller will designate Closing Agent. Closing may be conducted by mai|, overnight oouher, or electronic
463 means.
464 (i/) CLOSING DOCUMENTS: Seller shall at or prior to Closing, execute and de|iwar, as epp|icab|o, daed, bill of
*es sale, certificate(s) of title or other documents necessary to transfer title to the Property, construction lien affidavit(s),
*oo owner's possession and no lien affidavit(e), and assignment(s) of leases. Seller shall provide Buyer with paid
467 receipts for all work done on the Property pursuant hothis Contract. Buyer shall furnish and pay for, as applicable,
^mo the survey, flood elevation certification, and documents required byBuyer's lender.
*e (iii) FinCEN GTO REPORTING OBLIGATION. If Closing Agent is required to comply with a U.S. Treasury
*ro Department's Financial Crimes Enforcement Network ("FinCEN") Geographic Targeting Order ("GTO"), then Buyer
^r, shall provide Closing Agent with essential information and documentation related to Buyer and its Beneficial
*rz Ownam, including photo idendfication, and related to the transaction contemplated by this Contract which are
473 required to complete mandatory reporting, including the Currency Transaction Report; and Buyer consents tn
474 Closing Agent's collection and report nfsaid information hoIRS.
*rn (iv) PROCEDURE: The deed shall be recorded upon Collection of all closing funds. If the Title Commitment
476 provides insurance against adverse matters pursuant to Section 627.7841, F.S..00amended, the escrow closing
^rr procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to Collection of all closing
*ro funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to Seller,
*ro J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide
*ao for insurance against adverse matters as permitted under Section 627.7841. F.S., as omanded, the following
*81 escrow and closing procedures shall apply: (1) all Closing proceeds nho|| be held in escrow bythe Closing Agent
482 for period ofnot more than 1Ddays after Closing; (2) ifSeller's title io rendered unmorkateb|e, through nofault of
483 Buyer, Buyer shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from
*84 date ofreceipt ofsuch notification to cure the defect; (3) ifSeller fails to timely cure the defect, the Deposit and all
^uo Closing funds paid by Buyer nho||. within 5 days after written demand by Buyer, be refunded to Buyer and,
486 simultaneously with such repayment, Buyer shall return the Personal Proparty, vauoha the Real Property and re'
4ur convey the Property to Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand
*aa for refund of the Depoait. Buyer shall bake title as is, waiving all rights against Seller as to any intervening defect
^oy except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale.
490 K. PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as of
*e1 the day prior to Closing Daha, or date of occupancy if occupancy occurs before Closing Date: real eotoba taxes
vou (including special benefit tax assessments imposed by o CDD pursuant to Chapter 190. F.S., and assessments
*an imposed by special district(s) pursuant to Chapter 189F.S.), intereet, bondo, association haea, insurance, rents
*/w and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if assumable,
^oo in which event premiums oho|| be prorated. Cash at Closing oho|| be increased ordecreased as may be required
mn by proroUono to be made through day prior to Closing. Advance rent and eaourih/ depooita, if any, will be credited
*or to Buyer. Escrow deposits held by Seller's mortgagee will be paid to Seller. Taxes shall be prorated based on
4e8 current years tax. If Closing occurs on a date when current year's millage is not fixed but current year's assessment
Buyer's Initials
FlmmaRealto
Page 9 of 13 Seller's Initials —
.nzx@ 2ozaFlorida naouurs@and The Florida Bar, All rights reserved.
mn./74
,,,x^wEDT
STANDARDS FOR REAL ESTATE TRANSACTIONS ("GTANQAROS")CONTINUED
499 is ovai|obka, taxes will be prorated boned upon such oaoeaomont and prior year's miUage. If current year's
mn oasonmmont is not anai|ab|e, then taxes will be prorated on prior year's tax, If there are oump|ahad improvements
501 on the Real Property by January 1st of year of Closing, which improvements were not in existence on January 1 st
am ofprior year, then taxes shall be prorated based upon prior year's miUagannd at on equitable assessment to be
nuo agreed upon between the partiee, failing vvhiuh, request ohoU be made to the County Property Appraiser for on
ncw informal assessment taking into account available exemptions. In all oaoes, due allowance shall be made for the
505 maximum allowable discounts and applicable homestead and other exemptions. Abax proration based on an
ovo estimate ohaU, at either porty'a requeat, be readjusted upon receipt ufcurrent year's tax bill. This STANDARD K
507 shall survive Closing.
oop L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK-THROUGH: Seller
000 oha||, upon reasonable ncdioo, provide utilities service and ocneao to Property for appraisals and inapeobono,
510 including a walk-through (or follow-up walk-through if necessary) prior to Closing.
511 M. RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire orother casualty
512 ("Casualty Loss") and cost of restoration (which shall include cost of pruning or removing damaged trees) does not
o`a exceed 1.5% of Purchase Prioe, cost ofrestoration shall be on obligation ofSeller and Closing ohoU proceed
514 pursuant tnterms ofthis Contract. If restoration is not completed aaofClosing, asum equal to 125% of estimated
515 cost to complete restoration (not toexceed 1.596 of Purchase Price) will be escrowed at Closing. If actual cost of
5/6 restoration exceeds escrowed emount. Seller shall pay such actual costs (but, not in axueaa of 1.5% of Purchase
517 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1.5% of
518 Purchase Price, Buyer shall elect to either take Property "as is" together with the 1.5% or receive o refund of the
519 Deposit thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation
ozu with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal.
521 N. 1031 EXCHANGE: |feither Seller orBuyer wish toenter into a like -kind exchange (either simultaneously with
522 Closing or deferred) under Section 1031 ofthe Internal Revenue Code ("Exchange"), the other party shall cooperate
nun in all reasonable respects to effectuate the Exchongo, including execution of documents; provided, however.
524 cooperating party ohe|| incur no liability or expense related to the Exchange, and Closing shall not be contingent
oos upon, nor extended ordelayed by, such Exchange.
oe 0. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; DELIVERY; COPIES; CONTRACT
527 EXECUTION: Neither this Contract nor any notice of it aho|| be recorded in any public or official naounde. This
528 Contract shall be binding on, and inure tothe benefit of, the parties and their respective heirs or successors in
529 interest. Whenever the context permits, singular shall include plural and one gender shall include all. Notice and
soo delivery given by or to the attorney or broker (including such broker's real estate licensee) representing any party
531 nho|| be on effective as if given by or to that party. All notices must be in writing and may only be made by mail,
532 facsimile transmission, personal delivery oremail. Afacsimile orelectronic copy nfthiaContract and any signatures
,uo hereon shall be considered for all purposes on an original. This Contract may be executed by use of electronic
oo* aignoturee, as determined by Florida's Electronic Signature Act and other applicable laws.
nao P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreement
53e of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or
nar representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change
nno in this Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended
nno hobebound byit.
540 Q. WAIVER: Failure of Buyer or Seller to insist on compliance with, or strict performance of, any provision of this
5*1 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or
o*z rights.
543 R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Ridern, addenda, and typewritten
o^w or handwritten provisions shall control all printed provisions of this Contract in conflict with them.
o^n S. COLLECTION or COLLECTED: "Collection" or "Collected" means any checks tendered or received, including
546 Depoaiho, have become eotuo||y and finally collected and deposited in the account of Escrow Agent or Closing
547 Agent. Closing and disbursement of funds and delivery of closing documents may be delayed by Closing Agent
54e until such amounts have been Collected inClosing Agent's accounts.
549 T. RESERVED.
so U. APPLICABLE LAW AND VENUE: This Contract aho|| be construed in accordance with the |avva of the Sbsbs
no/ of Florida and venue for resolution of all diaputen, whether by madiaUon, arbitration or litigation, shall lie in the
»no county where the Real Property iolocated.
000 V. F|RPTA TAX WITHHOLDING: If o seller of U.S. real property is a "foreign person" as defined by F|RPTA.
oo* Section 1445 of the Internal Revenue Code ("Code") requires the buyer of the real property to withhold up to 15%
*no of the amount realized by the seller on the transfer and remit the withheld amount to the Internal Revenue Service
Buyer's Initials
F|u,maneonory
F� Page 10 of 13 Seller's Initials
C 2023 Florida Realtoc@and The Florida Bar. All rights reserved. 11�W�D
STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDAROS')CONTINUED
soo (IRS) unless an exemption to the required withholding applies or the seller has obtained a Withholding Certificate
nor from the IRS authorizing oreduced amount ofwithholding.
558 (i) No withholding is required under Section 1445 of the Code if the Seller is not e "foreign person". Seller can
eo provide proof of non -foreign status to Buyer by delivery of written certification signed under penalties of perjury,
000 stating that Seller is not foreign person and containing Seller's name. U.S. taxpayer identification number and
so, home address (or office address, in the case of an entity), as provided for in 26 CFR 1.1445-2(b). Otherwise, Buyer
noz shall withhold the applicable percentage of the amount realized by Seller on the transfer and timely remit said funds
000 to the IRS.
564 (ii) If Seller is a foreign person and has received a Withholding Certificate from the IRS which provides for reduced
565 or eliminated withholding in this transaction and provides same to Buyer by Closing, then Buyer shall withhold the
566 reduced sum requined, if any, and timely remit said funds to the IRS.
567 (iii) If prior to Closing Seller has submitted a completed application to the IRS for a Withholding Certificate and has
nao provided to Buyer the notice required by28 CFR 1.1445'1(c) (2)(i)(B) but noWithholding Certificate has been
000 received as of Closing, Buyer shall, at Closing, withhold the applicable percentage of the amount realized by Seller
orn on the transfer and, at Buyer's option, either (a) timely remit the withheld funds to the IRS or (b) place the funds in
on e0000w, etSeller's expense, with an escrow agent oe|eohad by Buyer and pursuant huterms negotiated by the
oru parties, to be subsequently disbursed in accordance with the Withholding Certificate issued by the IRS or remitted
*rn directly tothe IRS ifthe Seller's application is rejected or upon terms set forth inthe escrow agreement.
nr* (iv) In the event the net proceeds due 8e||or are not sufficient to meet the withholding requirement(m) in this
nro tnanaactinn. Seller ahe|| deliver to Buyer. at C|ooing, the additional Collected funds necessary to satisfy the
576 applicable requirement and thereafter Buyer shall timely emit said funds to the IRS or eounovv the funds for
577 disbursement inaccordance with the final determination ofthe IRS, as applicable.
srn (v) Upon remitting funds to the IRS pursuant 0zthis GTANDARO. Buyer shall provide Seller copies ofIRS Forms
579 8288and 828RAaofiled.
oov W. RESERVED
581 X. BUYER WAIVER OF CLAIMS: To the extent permitted by law, Buyer waives any claims against Seller
onu and against any real estate licensee involved in the negotiation of this Contract for any damage ordefects
nuo pertaining to the physical condition of the Property that may exist at Closing of this Contract and be
oo^ subsequently discovered by the Buyer or anyone claiming by, through, under or against the Buyer. This
aos pnoWm/mn does not relieve Seller's obligation tocomply with Paragraph fO(f).This StmmdbndXshmllsurvive
586 Closing.
mn
ADDENDA AND ADDITIONAL TERMS
em° 19. ADDENDA: The following additional terms are included in the attached addenda or riders and incorporated into this
589 Contract (Check if applicable):
A.
B.
C.
D.
E.
F.
G.
H.
i
J�
K.
Condominium Rider
Homeowners' Assn.
Seller Financing
Mortgage Assumption
FH/VVAFinanuing
Appraisal Contingency
Short Sale
Humeownam/F|ood|na.
RESERVED
Interest-BearingAcct
RESERVED
RESERVED
Buyer's Initials
FlmmaRemuors
M.
N.
11W
.�
Defective Drywall
Coastal Construction Control
Line
Insulation Disclosure
Lead Paint Disclosure (Pn+1Q78)
Housing for Older Persons
Rezoning
Lease Purchase/ Lease Option
Pn+C|oaingOnouponoy
Post -Closing Occupancy
Sale ofBuyer's Property
Back-up Contract
r
law
A—
X. Kick -out Clause
Y. Seller's Attorney Approval
Z. Buyer's Attorney Approval
AA. Licensee Property Interest
BB. Binding Arbitration
CC. Miami -Dade County
Special Taxing District�
Disclosure
DO. Geaaona|8/ouabnnRents|o
EE. PACE Disclosure
F�
Page Imm Seller's Initials
C 2023 Florida Reawn@and The Florida Bar. All rights reserved.
:24
sea* 20. ADDITIONAL TERMS: SELLER SHALL DELIVER PROPERTY FREE AND CLEAR OF ANY AND ALL LIENS, TITLE DEFECTS,
591 AND/OR VIOLATIONS OF ANY KIND TO INCLUDE HOA VIOLATIONS PRIOR TO CLOSING AT SELLER'S SOLE EXPENSE. SELLER
592 SHALL CLOSE ANY OPEN OR EXPIRED PERMITS PRIOR TO CLOSING AT SELLER'S SOLE EXPENSE.
593
594
595
596
597
598
599
600
601
602
603
604
605
606
607
608
609* Seller counters Buyer's offer.
610
COUNTER-OFFER
[The remainder of this page is intentionally left blank.
611 This Contract continues with Line 612 on Page 13 of 13.]
Buyer's Initials
FloridaRealtors
Page 12 of 13 Seller's Initials
ev.7/23 CD 2023 Florida Realtors® and The Florida Bar. All rights reserved.
112 AM
dotloop verified
612 THIS |SINTENDED TODEALEGALLY BINDING CONTRACT. |FNOT FULLY UNDERSTOOD, SEEK THE
613 ADVICE OFAN ATTORNEY PRIOR TOSIGNING.
ew THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTQQS AND THE FLORIDA BAR.
am Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the
mo hanno and conditions /n this Contract should be accepted by the parties in e particular transaction. Terms and
617 conditions should be negotiated based upon the respective interests, objectives and bargaining positions of all
618 interested persons.
mn
sa
mm
622
623
mm
625
mm
mr
628
mm
eo
AN ASTERISK (*) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK
TO BE COMPLETED.
ATTENTION: SELLER AND BUYER
CONVEYANCES TOFOREIGN BUYERS: Part III cfChapter SA2.Sections GQ2.3O1'GS2.2O5.Florida Statutes,
2023 (the �ct"), in part limits and regulates the ma|e, purchase and ownership of certain Florida properties by
certain buyers who are associated with a "foreign country of concern", namely: the People's Republic of China, the
Russian Federation, the Islamic Republic ofIran, the Democratic People's Republic ofKorea, the Republic of
Cuba, the Venezuelan regime of Nicol6s Maduro, or the Syrian Arab Republic. It is a crime to buy or knowingly
sell property imviolation ofthe Act.
At time of purchase, Buyer must provide a signed Affidavit which complies with the requirements of the
Act. Seller and Buyer are advised to seek legal counsel regarding their respective obligations and liabilities under
the Act.
Buyer
Buyer:
Seller:
Seller
L�
���
Buyer's address for purposes of notice
Seller's address for purposes of notice
,ao BROKER: Listing and Cooperating Brokers, if any, named below (md|acdwa|y. ^8nokar"), are the only Brokers
*m entitled to compensation in connection with this Contract. Instruction to Closing Agent: Seller and Buyer direct
m*, Closing Agent to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage
mu agreements with the parties and cooperative agreements between the Brokers, except hothe extent Broker has
s^u retained such fees from the escrowed funds. This Contract shall not modify any MLS or other offer of compensation
a^* made bySeller orListing Broker toCooperating Brokers.
.Jasmine Hadley
we L;uopermting5alesAssociate, itany
Elite Realty Partners, Inc.
wm Cooperating Broker, it any
jasmine Hadley
Listing Sales Associate
Elite Realty Partners, Inc.
Listing broker
Page mmm
|a-6x Ravr/2a@couaFlorida ReeuorsOand The Florida Bar, All rights reserved.