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NSP Program File (HHVS) Co l er County Public Services Division Housing & Human Services MEMORANDUM TO: Neighborhood Stabilization Program File FROM: Frank Ramsey—Housing Manager DATE: August 26, 2009 RE: 5271 24th Avenue SW, Naples, FL 34116 In order to achieve the policy objectives of the Neighborhood Stabilization Program Administrative Plan,approved by the Board of County Commissioners on March 24,2009,the following actions have been taken to ensure the payment of deposits for the acquisition of real property conform with program guidelines and are legal and authorized: 1. Prior to payment in full for the acquisition of real property located at 5271 24th Avenue SW, Naples, FL 34116, a supplemental appraisal shall be prepared dated September 9,2009,which states"Effective September 9, 2009,the subject property has been vacant at least ninety(90)days"; and 2. The Agreement for Sale and Purchase has been negotiated to ensure the closing date and transfer of ownership from seller to Collier County occurs at least ninety(90)days from the lender obtaining a certificate of title through foreclosure proceedings; and 3. County staff has developed amended policy language to comply with the Neighborhood Stabilization Program and Uniform Relocation Act. Please accept this memorandum as sufficient evidence that the payment of a deposit in the amount of$2,500.00 for property located at 5271 24th Avenue SW, Naples, FL 34116 conforms to program guidelines and is legal and authorized. Frank Ramsey Housing Manager Housing itt Human Services of Collier County Collier County Housing and Human Services •239-252-CARE(2273) •239 252-HOME(4663)•www.colliergov.net/humanservices Send all Invoices to: Board of County Commissioners Purchasing Department Board of County Commissioners 3301 Tamiami Trail E ,. Attn:Accounts Payable Naples,Florida 34112 PO Box 413016 Tax Exempt:85-8012621830C-2 iris Naples,Florida 34101-3016 Purchase Order number must appear on all related correspondence,shipping papers and invoices: Vendor# 119475 Purchase order BERMAN RENNERT VOGEL&MANDLER PA Po Number 4500109352 Date 08/17/2009 100 SE 2ND ST,STE 2900 Contact Person Housing Service MIAMI FL 33131 Please deliver to: REAL PROPERTY MANAGEMENT Delivery Date: GENERAL SERVICES BUILDING/VV 3301 TAMIAMI TRAIL E ,1' 1'j —` 5 7 7 ,,Z,j o NAPLES FL 34112-3969 Terms of Payment Net 30 Days Currency USD Item Material Description Order Qty Unit Price Per Unit Net Value 00010 5271 24th Ave SW 2,500 each 1.00 2,500.00 Quantity still to be delivered Oeach BCC 3-24-09 item 1OF Deposit due 8-21-09 no later wiring instructions attached. Please notify pat at 8991 and Jacquelyn 5701 at time of wiring. *** Item completely delivered *** Total net value excl.tax USD 2,500.00 VENDOR Terms and Conditions The VENDOR agrees to comply with all Purchase Order Terms and Conditions as outlined on the Collier County Purchasing Internet site: http://www.colliergov.net/Index.aspx?page=762(revision date 01/22/2008),including delivery and payment terms.Further the VENDOR agrees to: 1. Provide goods and services outlined in this Purchase Order with the prices,terms,delivery method and specifications listed above. 2. Notify department Immediately if order fulfillment cannot occur as specified. 3. Send all invoices to: Board of County Commissioners Attn:Accounts Payable PO Box 413016 Naples,Florida 34101-3016 The Purchase Order is authorized under direction of Collier County Board of County Commissioners by: 62. Stephen Y.Cornell,General Services/Purchasing Director Printed Tue Aug 18 2009 13:31:54 GMT-0400 121-138755-884300-33050.2.22 Page 1 of 1 COLLIER COUNTY REAL PROPERTY HOUSING AND HUMAN SERVICES 3301 E Tamiami Trail, Naples, Florida 34112 Date: Neighborhood Stabilization Program (NSP) Purchase Order Request Direct Pay Request Account String: /,',1/- 7 3 5 ;��/�� _ -' �;� �� %_ BCC Approval Information Date Approved: 3/24/2009 PO Number: / �r — ,1,24/ Agenda Items: 10E & 10F AMOUNT: Z , S CC) C>C> m V \J _ 5_ 7 7 7 5 O PAYEE VENDOR NAME .7 3 /1 1/C12 , ;- C_A)A,E 7?%, t/2(E t Iii.,> /fri/.1 /7L VENDOR NUMBER / / cj t7 75' CLOSING DATE 7E PeS r 1Duu. Nv j�1%[�-�� T7//), 67=‘,2//c c (c" )A rc - i 70 SUBJECT PROPERTY STREET ADDRESS t512 7 / ,2'/ ;w A V'c- S L'0 CITY. STATE, ZIP /.) r7L t S/ ,L 3 / / OFFER INFORMATION _ CONTRACT PRICE `f 7 c .C), c2 L7 OFFER DATE /0/0 '1 ACCEPTANCE DATE /070 --5/6,-EP r CNti i/2'-i4,C ,jam/ %;2/ REAL PROPERTY -- REQUESTED BY PRINT NAME f-//4 N S u S5 t c c- DATE / / l U 9 HHS APPROVED BY PRINT NAME DATE COLLIER COUNTY REAL PROPERTY HOUSING AND HUMAN SERVICES 3301 E Tamiami Trail, Naples, Florida 34112 DOCUMENT CHECKLIST CONTRACT DEPOSIT Initial Below PROPERTY REQUIREMENTS Real Property HHS Property is located in zip code 34112, 34116 or 34120 /U/e_ Purchase price does not exceed $150,000 ./-VC-- Initial Below CONTRACT REQUIREMENTS Real Property HHS All documentation is signed and dated `/ /_.�' Any special conditions/requirements have been satisfied -1 All documentation is fully executed and has not expired Contract extension less than 6 months approved by Purchasing 11-%//3— Contract extension greater than 6 months approved by BCC /V//A- Purchase Agreement executed with Bank/Lender holding title COA approved Purchase Agreement for form and legal sufficiency 7A1-6 Letter of Federal Funding issued to Bank/Lender Purchase approved by HHS Director or Designee PEA Initial Below APPRAISAL REQUIREMENTS Real Property HI-'S Appraisal loaded in SAP .T Sales price discounted at least 5%from appraised value Appraisal state property vacant 90 days � ," Appraisal completed within 60 days of offer to purchase C/ PROGRAM CERTIFICATIONS The following program requirements have been completed, validated and documented. Sign Below The subject property has been inspected by HHS. Print Name An Environmental Review has been completed by HHS. ) •, f c }�L/S//�1�� 1��i Print Name U1S%77 L' y�—�c L C<r- Real Property has reviewed the title commitment prepared by a licensed title company, which has examined title to the subject property. D /�� 14-',t,t/ /4/4) Print Name i COLLIER COUNTY REAL PROPERTY HOUSING AND HUMAN SERVICES 3301 E Tamiami Trail, Naples, Florida 34112 ATTACHMENT LIST CONTRACT DEPOSIT REQUIRED ATTACHED TO TO BE SENT WITH ITEMS THIS REQUEST CLOSING CHECK REQUEST 1. Fully executed Purchase Agreement LA7,C 2. Agreement addendum (if applicable) Alf} 3. Letter of Federal Funding (URA) VA 4. Property Appraisal 5. Closing Statement Wire Instructions 7 7. Form W-9 8. Zero Dollar Change Order(if applicable) 9. Evidence of HHS approval of offer made 17.2 .-L._ 0 QQ, 3 r H -1 v < Z o n 3 _ n' -, 0 n D' co in 3 o co cu Q.076 K = O c o ro rD ^ p °1 c 3 3 v Le,a rD 2 2 2 2 2 2 2 0 0 0 0 0 0 0 c c c c c c c ao as o0 as C/A OA CIA 70 73 73 73 73 rD ro ro co rD CU 03 Cu a v d Dl 0 Dl N N al Dl D D 3 D 7 3 3 (D _ — — — — C2 C2 C1 C2 C1 0_ Cl -0 v v v v 2 2 2 2 2 2 2 CU ° ° ° ° -o -0 0 a a -o 3 3 3 3 3 3 3 3 G < < •< ^< V) Vl (n VI Vl Vl N to rD rD rD rD ro rD n• n' r=l• n• F)• rl' rl• co rD ro rD co rD co til VI VI VI VI lil IA ' Z N _m v 7 -o Gl D -0S -o O 3 p -0 70 X G) D OD C1 73 ro a co co a) -% O 3 Dro i rD ai Dpi 3 2 n 2 < -< ,-r O 2 in- m > -< D = c c o Vl 00 n rt. _0 D .n a cu a - 3' G) O a) cu r* r* c n c _. _. 0 0 0 pp -I Z r N in' c �' o O O UO ro n N D ° o •-r; o Vl v, N o c � 0 C T3 X N a 3 '0 -a a n ro nl rl N. Ol rD ro CD rD OU m r O ro a a. 0 ?. N Z cu rD D--). n .-p ,-r ,-r ,-r r l O vi cu ro Z ,-r <n 0 -i Pa 0 G1 D ,J [ . _v! 3 cu rt c A r rr d N 4,-Q- SLJ ,t— EARNEST MONEY .ADDENDUM TO PURCHASE AGREEMENT THIS ADDENDUM TO PURCHASE AGREEMENT is dated as of the 10 day of August,2009,by and between BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP,a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certificateholders of CWABS 2005-06(hereinafter called"Seller"),Collier County,a Political Subdivision of the State of Florida(hereinafter called"Purchaser"),and Berman,Rennert,Vogel and Mandler(hereinafter called "Escrow Agent"), amending that certain Purchase Agreement between the Parties of even date herewith. 1) Escrow Agent acknowledges that upon receipt of earnest money in the amount of$2,500.00 pursuant to the Real Estate Purchase Agreement dated August 10, 2009, entered into between Seller and Purchaser ("Purchase Agreement") the Escrow Agent shall send written acknowledgement of receipt of funds to the Seller and Purchaser. Escrow Agent shall hold in a non-interest bearing account pursuant to taxpayer information provided to Escrow Agent by Purchaser. 2) If Purchaser cancels the Purchase Agreement,Purchaser must give written notice to Escrow and Seller. If Escrow Agent does not receive a written objection from Seller within a five (5) business day period after the date of Purchaser's written notice,then Escrow Agent shall disburse the earnest money to Purchaser. If Escrow Agent receives a written objection from Seller within such five(5)business day period, Escrow Agent shall continue to hold the earnest money until Escrow Agent receives joint written instructions from Seller and Purchaser regarding disbursement of the earnest money or until Escrow Agent receives a final order from a court of competent jurisdiction directing Escrow Agent to release the earnest money. 3) Wherever in this Agreement it shall be required that notice or demand be given by either Party to this Agreement to the other,such notice or demand shall not be deemed given or served unless in writing and forwarded by (i) registered or certified mail, postage prepaid, (ii) by reputable overnight courier such as Federal Express, Airborne or others, or(iii)by facsimile, addressed as follows: To Seller at BAC Home Loans Servicing LP, F/K/A Countrywide Home Loans Servicing LP,a Texas Limited Partnership 400 Countrywide Way,Simi Valley,CA 93065 Attn: Real Estate Management-NSP To Purchaser at: Collier County,a Political Subdivision of the State of Florida 3301 Tamiami Trail East . Naples,FL 34112 Attn: Gary Bigelow To Escrow Agent at: Berman,Rennert,Vogel and Mandler 100 SE 2nd Street—291°Plr Miami,FL 33131 Attn: Scott Levine The date of notice shall be the date deposited.in the U.S.Mail,with an overnight delivery service,or sent by facsimile. Addendum—Page 1 {DO -- 1 c c J' 4) The sole duties of Escrow Agent shall be those described herein, and Escrow Agent shall be under no obligation to determine whether the other panics hereto are complying with any requirements of law of the terms and conditions of any other agreements among said parties. Escrow Agent may conclusively rely upon and shall be protected in acting upon any notice, consent, order or other document believed by it to be genuine and to have been signed or presented by the proper Party or parties, consistent with reasonable due diligence on Escrow Agent's part. Escrow Agent may consult the advice of counsel with respect to any issues concerning the interpretation of its duties hereunder Purchaser and Seller hereby acknowledge such fact and indemnify and hold harmless Escrow Agent from any action taken by it in good faith in reliance thereon. Escrow Agent shall have no duty or liability to verify any such notice, consent,order or other document,and its sole responsibility shall be to act as expressly set forth in this Agreement. Escrow Agent shall be under no obligation to institute or defend any action, suit or proceeding in connection with this Agreement If any dispute arises with respect to the disbursement of any monies, Escrow Agent may continue to bold the same or commence an action in interpleader and in connection therewith remit the same to a court of competent jurisdiction pending resolution of such dispute,and the Parties hereto hereby indemnify and hold harmless Escrow Agent for any action taken by it in good faith in the execution of its duties hereunder. The Parties agree that there may exist a potential conflict of interest between the duties and obligations of Escrow Agent pursuant to this Agreement and.as insurer of the title to the property after sale from Seller to Purchaser. The Parties hereto acknowledge such potential conflict and indemnify and bold harmless Escrow Agent from any claim of interest arising as as result of the exercise of its duties hereunder and in determining whether it can give its irrevocable' commitment to insure title. SELLER: BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certifrcateholders of CWABS 2005-06 By lie Mavrolas Its: Asset Manager PURCHASER: Collier County, A Political Subdivision of the State of Florida *S i,bs na a attached beret,* ESCROW A►ENT: i pn Berman, . n V, 1, Mandlei> 1�4 By S ,tt Levine Its: ce President Addendum—Page 2 EARNEST MONEY ADDENDUM TO PURCHASE AGREEMENT THIS ADDENDUM TO PURCHASE AGREEMENT is dated as of the 10 day of August, 2009, by and between BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certificateholders of CWABS 2005-06 (hereinafter called"Seller"), Collier County,a Political Subdivision of the State of Florida(hereinafter called"Purchaser"),and Berman, Rennert, Vogel and Mandler (hereinafter called "Escrow Agent"), amending that certain Purchase Agreement between the Parties of even date herewith. /' 1) Escrow Agent acknowledges that upon receipt of earnest money the amount of $2,500.00 pursuant to the Real Estate Purchase Agreement dated August l ; 2009, entered into between Seller and Purchaser ("Purchase Agreement") the Escro Agent shall send written acknowledgement of receipt of funds to the Seller and Purchas r. Escrow Agent shall hold in a non-interest bearing account pursuant to taxpayer informat. n provided to Escrow Agent by Purchaser. 2) If Purchaser cancels the Purchase Agreement, Purchaser,ust give written notice to Escrow and Seller. If Escrow Agent does not receive a written Objection from Seller within a five (5) business day period after the date of Purchaser's written notice, then Escrow Agent shall disburse the earnest money to Purchaser. If Escrow Agent recerves a written objection from Seller within such five (5) business day period, Escrow Agent shah continue to hold the earnest money until Escrow Agent receives joint written instructio s from Seller and Purchaser regarding disbursement of the earnest money or until Escro Agent receives a final order from a court of competent jurisdiction directing Escrow Agent to release the earnest money. 3) Wherever in this Agreement it shall be required -tliat notice or demand be given by either Party to this Agreement to the other, such notice or dem ind shall not be deemed given or served unless in writing and forwarded by (i) registered or certified mail, postage prepaid, (ii) by reputable overnight courier such as Federal Express, Airborne or others, or (iii) by facsimile, addressed as follows: , i To Seller at: BAC Home Loans/Servicing LP, F/K/A Countrywide Home Loans Servicing LP, a Teas Limited Partnership 400 Countrywide Way, Simi Valley, CA 93065 Attn: Real Estate Management-NSP 1 To Purchaser at: Collier County,, Political Subdivision of the State of Florida 3301 Tamiami Trail East Naples,FL 34112 Attn: Gary Bigelow f To Escrow Agent at: Berman,Rennert,Vogel and Mandler 100 SE 2nd Street—29th Flr Miami, FL 33131 Attn: Scott Levine The date of notice shall be the date deposited in the U.S.Mail, with an overnight delivery service, or sent by facsimile. Addendum—Page 1 4) The sole duties of Escrow Agent shall be those described herein, and Escrow Agent shall be under no obligation to determine whether the other parties hereto are complying with any • requirements of law of the terms and conditions of any other agreements among said parties. Escrow Agent may conclusively rely upon and shall be protected in acting upon any notice, consent, order or other document believed by it to be genuine and to have been signed or presented by the proper Party or parties, consistent with reasonable due diligence on Escrow Agent's part. Escrow Agent may consult the advice of counsel with respect to any issues concerning the interpretation of its duties hereunder Purchaser and Seller hereby acknowledge such fact and indemnify and hold harmless Escrow Agent from any action taken by it in good faith in reliance thereon. Escrow Agent shall have no duty or liability to verify any such notice, consent, order or other document, and its sole responsibility shall be to act as expressly set forth in this Agreement. Escrow Agent shall be under no obligation to institute or defend any action, suit or proceeding in connection with this Agreement. If any dispute arises with respect to the disbursement of any monies, Escrow Agent may continue to hold the same or commence an action in interpleader and in connection therewith remit the same to a court of competent jurisdiction pending resolution of such dispute, and the Parties hereto hereby indemnify and hold harmless Escrow Agent for any action taken by it in good faith in the execution of its duties hereunder. The Parties agree that there may exist a potential conflict of interest between the duties and obligations of Escrow Agent pursuant to this Agreemenx•'and.as insurer of the title to the property after sale from Seller to Purchaser. The Parties hereto acknowledge such potential conflict and indemnify and hold harmless Escrow Agent from any claim of interest arising as a result of the exercise of its duties hereunder and in determining Whether it can give its irrevocable commitment to insure title. SELLER: BAC HOME LOANS SERVICING LP, F/KJA COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Pafcnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the ,for of CWABS 2005-06 BY: \/-,j1 00\046"-)'-' Kellie Mavrolas Its: r Asset Manager PURCHASER: Collier County, A Political Subdivision of the State of Florida *See substitute signature page attached hereto* ESCROW AGENT: Berman,Rennert, Vogel and Mandle By: Scott Levine Its: Vice President Addendum—Page 2 Project: Neighborhood Stabilization Program Folio Number: 36309240001 Property Address: 5271 24th Ave SW, Naples, 34116 Document: Earnest Money Addendum SUBSTITUTE SIGNATURE PAGE Date property acquisition approved by BCC: March 24, 2009, Item 1OF AS TO PURC HASER: DATED: 'tgl/I�-®g ATTEST: BOARD OF C UNTY COMMISSIONERS DWIGHT E. BROCK, Clerk COLLIER C TY, FLORID P L1` 'z - . . - .-.._.!. 0.0 . BY 07�-r- ./ ,....k-V;-- '441 1-, ,(•put S lerk Donna iala, Chairman Approved as to form and legal sufficiency: Jennifer White Assistant County Attorney LEAD PAINT ADDENDUM FOR HOUSING CONSTRUCTED BEFORE 1978 TO PURCHASE AGREEMENT BETWEEN BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certificateholders of CWABS 2005-06, AS SELLER AND Collier County,a Political Subdivision of the State of Florida„AS PURCHASER LEAD WARNING STATEMENT Every purchaser of any interest in residential real property on which a residential dwelling was built before 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. Seller of any interest in residential real property is required to provide the purchaser with any information on lead-based paint hazards from risk assessments or inspections in Seller's possession and notify the purchaser of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended before purchase. SELLER'S DISCLOSURE 1. Presence of lead-based paint and/or lead-based paint hazards (check items a or b below): a. Known lead-based paint and/or lead-based paint hazards are present in the housing. If checked,the following explanation is provided: b. X_ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. 2. Records and reports available to Seller(check item a or b below): a. Seller has provided Purchaser with all available records and reports pertaining to lead-based paint and/or lead-based paint hazards in the housing. If checked,the following documents were provided: b. X_ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. PURCHASER'S ACKNOWLEDGMENT I. Purchaser has read the Lead Warning Statement above and understands its contents, and has received copies of all information listed above. 2. Purchaser has received the pamphlet Protect Your Family from Lead in Your Home. 3. Purchaser has either(check one of the boxes below): Addendum—Page 3 ® received a 10-day opportunity (or mutually agreed-upon period) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or n waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. SELLER: BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certificateholders of CWABS 2005-06 By: `'(bt:/( rr Kellie Mavrolas Its: Asset Manager PURCHASER: Collier County, A Political Subdivision of the State of Florida *See substitute signature page attached hereto* Addendum—Page 4 Project: Neighborhood Stabilization Program Folio Number: 36309240001 Property Address: 5271 24th Ave SW, Naples, 34116 Document: Lead Paint Addendum SUBSTITUTE SIGNATURE PAGE Date property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: --.z DATED: //2,/rq ATTEST,:,,,. C`'''`"•r' ,'� BOARD OF CO NTY COMMISSIONERS DWIGHT E. BRUCK';,Clerk COLLIER CO Y, FLORIDA/ t., h4 A A �-" A ; A!. ' C , BY: " 0i-r ,� , .,.c,,, ,, pr p‘ ty Qerk Donna Fiala, Chairman ,*$ yam" ,: $ $1014,44001=-' Approved as to form and legal sufficiency: -ya k- Jen )1-5 r B. White Assistant County Attorney Group ID No. AND SALE AGREEMENT THIS PURCHASE AND SALE AGREEMENT ("Agreement") is made between BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the CertificatehoIders of CWABS 2005-06 ("Seller") and Collier County, a Political Subdivision of the State of Florida, whose address is 3301 Tamiami Trail East,Naples, Florida 34112 ("Purchaser"), (together, the"Parties" and individually, the"Party") and is effective as of August 10, 2009 (the"Effective Date"). Recitals: Seller owns certain real property improvements, appurtenances and hereditaments located at 5271 24th Avenue SW, Naples, County of Collier, State of Florida, legally described on Exhibit A attached to this Agreement ("Property") which it wishes to sell, and which Purchaser wishes to purchase; and The sale and purchase of the Property shall also be subject to a number of conditions, as each is described by this Agreement; Therefore, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereto agree as follows: Neighborhood Stabilization Program. The Parties acknowledge that the sale and purchase of the Property [check applicable provision] IS ® IS NOT ❑ being made pursuant to federal funds distributed as part of the emergency assistance for the redevelopment of abandoned and foreclosed homes under Section 2301 of Title 3 of Division B of the Housing and Economic Recovery Act of 2008 ("HERA") and the Neighborhood Stabilization Guidelines of the Department of Housing and Urban Development("NSP Guidelines") and amendments thereto. 1. Sale of Property. Subject to compliance with the terms and conditions of this Agreement, Seller shall sell to Purchaser and Purchaser shall purchase from Seller the Property. 2. Purchase Price. The purchase price for the Property ("Purchase Price") shall be Fifty Four Thousand Five Hundred and No/100th Dollars ($54,500.00). However, the amount payable by Purchaser to Seller for the purposes of this transaction as the consideration to be paid shall be Forty Seven Thousand, Five Hundred and No/100th Dollars ($47,500.00) ("Total Adjusted Purchase Price"). The amount payable by Purchaser to Seller shall be payable as follows: (a) Three Percent (3.0%) of the Purchase Price or Two Thousand Five Hundred and No/100ths Dollars ($2,500.00), whichever is greater ("Earnest Money") which shall be delivered to the account of Title (defined below) within seven (7) business days after execution of this Agreement, pursuant to the Earnest Money Addendum to Purchase Agreement attached to this Agreement; and (b) Forty Five Thousand, and No/100ths Dollars ($45,000.00) representing the balance of the Purchase Price payable in cash, certified check, bank check or wire transfer on the Closing Date. For the purposes of this Paragraph 2 the Total Adjusted Purchase Price is an agreed upon sum intended to be less than the Purchase Price and shall reflect certain cost savings to the Seller associated with the subject transaction. Purchaser shall obtain an appraisal at its sole cost and expense to support the Purchase Price pursuant to NSP Guidelines, if NSP funds are being used in this transaction. If the NSP Appraisal obtained by Purchaser does not support the Purchase Price, Seller shall have no obligation hereunder to reduce the Purchase Price. 3. Time of the Essence: Closing Date: (a) It is agreed that time is of the essence with respect to all dates specified in this Agreement and any addenda, riders or amendments thereto. This means that all deadlines are intended to be strict and absolute. (b) The closing shall take place on or before September 18, 2009 ("Closing Date"), unless the Closing Date is extended in writing signed by Seller and Purchaser or extended by Seller under the terms of this Agreement. (c) Notwithstanding any provision herein and to the extent Purchaser elects not to obtain its own Title Commitment, Seller shall select a title insurance company which will issue the Title Commitment to Purchaser and Seller shall pay for the cost of issuance of said Title Commitment and the final title insurance policy. The Selection of said title insurance company by Seller shall not prohibit Purchaser from purchasing its own title policy or Title Commitment. (d) The closing agent for the transaction shall be selected by the Seller and identified in the Earnest Money Addendum to this Agreement. 4. Inspections: Purchaser understands and acknowledges that Seller acquired the Property by means of foreclosure or deed in lieu thereof; and that Seller has very limited documentation, reports and other due diligence information regarding the condition of the Property. Before entering into this Agreement, the Purchaser has inspected the Property and obtained for its own use, benefit and reliance, inspections and/or reports on the condition of the Property, and have accepted the Property "As-Is". The Purchaser shall keep the Property free and clear of liens and indemnify and hold the Seller harmless from all liability claims, demands, damages, and costs related to the Purchaser's inspection and any inspection conducted by Purchaser after the date of this Agreement, and the Purchaser shall repair all damages arising 2 from or caused by the inspections. The Purchaser shall not directly or indirectly cause any inspections to be made by any government building or zoning inspectors or government employees without the prior written consent of the Seller, unless required by law, in which case, the Purchaser shall provide reasonable notice to the Seller prior to any such inspection. If the Seller has winterized this Property and the Purchaser desires to have the Property inspected, listing agent will have the Property dewinterized prior to inspection and rewinterized after inspection. The Purchaser agrees to pay this expense in advance to the listing agent. The amount paid under this provision shall be nonrefundable. 5. Personal Property: Items of personal property, including but not limited to window coverings, appliances, manufactured homes, mobile homes, vehicles, spas, antennas, satellite dishes and garage door openers, now or hereafter located on the Property are not included in this sale or the Purchase Price unless the personal property is specifically described and referenced on Exhibit B attached to and made a part of this Agreement. Any personal property at or on the Property may be subject to claims by third parties and, therefore, may be removed from the Property prior to the Closing Date. Seller makes no representation or warranty as to the condition of any personal property, title thereto, or whether any personal property is encumbered by any liens. Purchaser assumes responsibility for any personal property remaining on the Property at the time of closing. 6. Closing Costs and Adjustments: (a) Purchaser and Seller agree to prorate the following expenses as of closing and funding: municipal water and sewer charges, utility charges, real estate taxes and assessments, common area charges, condominium or planned unit development or similar community assessments, co-operative fees, maintenance fees, and rents, if any. In determining prorations, the funding date shall be allocated to Purchaser. Payment of special assessment district bonds and assessments, and payment of homeowner's association or special assessments shall be paid current and prorated between Purchaser and Seller as of Closing. Date with payments not yet due and owing to be assumed by Purchaser without credit toward Purchase Price. The Property taxes shall be prorated based on an estimate or actual taxes from the previous year on the Property. All prorations shall be based upon a 365 calendar year and all such prorations shall be final. Seller shall not be responsible for any amounts due, paid or to be paid after closing, including but not limited to, any taxes, penalties or interest assessed or due as a result of retroactive, postponed or additional taxes resulting from any change in use of, or construction on, or improvement to the Property, or an adjustment in the appraised value of the Property. In the event Seller has paid any taxes, special assessments or other fees and there is a refund of any such taxes, assessments or fees after closing, and Purchaser as current owner of the Property receives the payment, Purchaser will immediately submit the refund to Seller. If the Property is heated by or has storage tanks for fuel oil, liquefied petroleum gases or similar fuels, Purchaser will buy the fuel in the tank at closing at the current price as calculated by the supplier. Property taxes shall be prorated to the Closing Date on a per diem calendar basis. All interest, rents, city water charges current operating expenses, and homeowner's association dues shall be prorated to the 3 Closing Date. Homeowner association transfer dues, if any, to be paid by Purchaser. Seller agrees to pay all special assessments levied of record or certified into the current year's taxes as of the date of closing. In Addition, Seller agrees to pay a prorated portion of any pending assessments at closing or deposit funds into escrow to cover these costs; any difference will be refunded to the Seller. (b) Seller shall only pay those closing costs and fees associated with the transfer of the Property that local custom or practice clearly allocates to Seller and any closing costs and fees specifically agreed to herein. 7. Delivery of Funds: Regardless of local custom, requirements, or practice, upon delivery of the deed by Seller to Purchaser, Purchaser shall deliver all funds due Seller from the sale in the form of cash, bank check, certified check or wire transfer. An attorney's trust fund check shall not be sufficient to satisfy this provision unless the bank holding the account on which the trust fund check is drawn certifies the trust fund check. 8. Delivery of Possession of Property: Seller shall deliver possession of the Property to Purchaser at closing and funding of sale. Seller warrants and covenants with Purchaser that (a) the Property was vacant and unoccupied at the time of commencing discussions with Purchaser for the purchase of the Property, is vacant and unoccupied at the time of the execution of this Agreement and will be delivered to Purchaser at the closing in a vacant and unoccupied condition, (b) the availability or existence of the federal funds under HERA has riot induced the Lender's commencement of the foreclosure proceedings, any deed in lieu of foreclosure or other enforcement procedures which has resulted in Seller's ownership of the Property, and (c) all foreclosure proceedings and any eviction actions are completed and any redemption periods of the prior foreclosed mortgagor/owner and all persons claiming through such person(s)have expired. If Purchaser alters the Property or causes the Property to be altered in any way and/or occupies the Property or allows any other person to occupy the Property prior to closing and funding without the prior written consent of Seller, such event shall constitute a breach by Purchaser under this Agreement and Seller may terminate this Agreement and Purchaser shall be liable to Seller for damages caused by any such alteration or occupation of the Property prior to the Closing Date and funding and Purchaser hereby waives any and all claims for damages or compensations for improvements made by Purchaser to the Property including, but not limited to, any claims for unjust enrichment. 9. Deed: The deed to be delivered at closing shall be a deed that covenants that grantor grants only that title which grantor may have and that grantor will only defend title against persons claiming by, through, or under the grantor, but not otherwise known as a Special Warranty. Any reference to the term "Deed" or "Special Warranty Deed" herein shall be construed to refer to such form of deed. It is the intent of Seller to deliver insurable title to the subject property through the conveyance of the Special Warranty Deed or comparable instrument. 10. Title to be Delivered. At Closing, Seller agrees to deliver to Purchaser the Deed, which conveys marketable fee simple title in the Property to Purchaser subject to the terms contained in Section 12 herein. 4 11. Title and Examination. (a) Within five (5) days from the date of this Agreement, Seller will order a commitment for a title insurance policy (the "Title Commitment") issued by Landsafe Title Company, ("Title") and provide a copy to Purchaser upon receipt. Purchaser shall have five (5) days from the date of its receipt of the Title Commitment to examine title and make any objections thereto, which shall be made in writing to Seller or deemed waived. If any objections are so made, Seller shall be allowed sixty (60) days to make title marketable. Pending correction of title, payments hereunder required shall be postponed, but upon correction of title and within ten (10) days after written notice to Purchaser, the Parties shall perform this agreement according to its terms. 12. Defects in Title: Upon examination of the title commitment by Purchaser and notice to Seller of a title objection, the Parties agree to proceed as follows: (a) If Purchaser raises an objection to Seller's title to the Property as provided in Paragraph 1 I, which, if valid, would make title to the Property uninsurable and not correctable within sixty (60) days, Seller shall have the right to terminate this Agreement by giving written notice of the termination to Purchaser, provided however, Purchaser shall have the right within five (5) days of such notice to either waive such defect or request Seller to proceed under Paragraph 12(c)below. (b) However, if Seller is able to correct the problem through reasonable efforts, as Seller determines, at its sole and absolute discretion, within said sixty (60) day period, including any written extensions, or if title insurance is available from a reputable title insurance company at regular rates containing affirmative coverage for the title objections, as provided below or Purchaser waives the defect, then this Agreement shall remain in full force and Purchaser shall perform pursuant to the terms set in this Agreement. (c) Seller will reasonably cooperate with Title and Purchaser on the title corrections to remove any such exception or to make the title insurable, but any attempt by Seller to remove such title exceptions shall not impose an obligation upon Seller to remove those exceptions. (d) In the event Seller, within such sixty (60) day period is not able to (i) make the title insurable or correct any problem or (ii) obtain title insurance from a reputable title insurance company, all as provided herein, Purchaser may either waive the objection or terminate this Agreement and any Earnest Money deposit will be returned to Purchaser as Purchaser's sole remedy at law or equity. Notwithstanding the forgoing, the Seller is not obligated to (A)remove any exception, (B) bring any action or proceeding or bear any expense in order to convey title to the Property, or (C) make the title marketable or insurable. 13. Representations and Warranties: Purchaser represents and warrants to Seller the following: 5 (a) Purchaser is purchasing the Property solely in reliance on its own investigation and inspection of the Property and not on any information, representation or warranty provided or to be provided by Seller, its servicers, representatives, brokers, employees, agents or assigns; (b) Neither Seller, nor its servicers, employees, representatives, brokers, agents or assigns, has made any representations or warranties, implied or expressed, relating to the condition of the Property or the contents thereof, except as expressly set forth in Paragraph 4 of this Agreement; (c) Purchaser has not relied on any representation or warranty from Seller regarding the nature, quality or workmanship of any repairs made by Seller; and (d) Purchaser will not occupy or cause or permit others to occupy the Property prior to closing and funding and, unless and until any necessary Certificate of Occupancy has been obtained from the appropriate governmental entity, will not occupy or cause or permit others to occupy the Property until after closing. 14. Conditions to the Parties'Performance: (a) Seller shall have the right, at Seller's sole discretion, to extend the Closing Date or to terminate this Agreement if: (i) full payment of any mortgage insurance claim related to the loan previously secured by the Property is not confirmed prior to the Closing Date or the mortgage insurance company exercises its right to acquire title to the Property; (ii) Seller determines that it is unable to convey good and marketable title to the Property insurable by a reputable title insurance company at regular rates; (iii) a third Party with rights related to the sale of the Property does not approve the sale terms; (iv) full payment of any property, fire or hazard insurance claim is not confirmed prior to the Closing Date; (v) any third Party, whether homeowner's association, or otherwise, exercises rights under a right of first refusal to purchase the Property; (vi) Purchaser is the former mortgagor of the Property whose interest was foreclosed, or is related to or affiliated in any way with the former mortgagor, and Purchaser has not disclosed this fact to Seller prior to Seller's acceptance of this Agreement. Such failure to disclose shall constitute default under this Agreement, entitling Seller to exercise any of its rights and remedies; or 6 (vii) Seller, at Seller's sole discretion, determines that the sale of the Property to Purchaser or any related transactions are in any way associated with illegal activity of any kind. In the event Seller elects to terminate this Agreement as a result of subparagraph 14 (a) (i), (ii), (iii), (iv), (v), (vi), or (vii) above, Seller shall return Purchaser's Earnest Money deposit and the Parties shall have no further obligation under this Agreement except as to any provision that survives termination pursuant to Paragraph 20 of this Agreement. (b) Purchaser's obligation to purchase the Property is subject to and conditioned upon the fulfillment of the following conditions precedent: (i) If Purchaser is using federal funds under HERA as described on page 1 of this Agreement ("NSP Funds"), the receipt by Purchaser of an appraisal consistent with the NSP Guidelines ("NSP Appraisal") in form and appraised value acceptable to meet NSP Guidelines and support the Purchase Price set forth above and in form and content acceptable to Purchaser. Purchaser shall have twenty one (21) days from the Effective Date of this Agreement to obtain an NSP Appraisal acceptable to meet NSP Guidelines and support the Purchase Price. Purchaser shall have the right to Terminate this Agreement if the NSP Appraisal does not support the Purchase Price and Seller elects not to reduce the Purchase Price which election shall be in Seller's sole and absolute discretion. If Purchaser raises an objection on the fair market value of the property, Purchaser shall deliver a copy of the NSP Appraisal to Seller along with its written objections thereto within twenty one (21) days of the Effective Date of this Agreement. Seller shall five (5) days from receipt of the Purchaser's objections and NSP Appraisal to respond to Purchaser. (ii) If Purchaser is using NSP Funds, the receipt by Purchaser of certain required NSP Guidelines reports relating to environmental, historic district conditions and other necessary NSP related due diligence reports ("NSP Due Diligence Reports"), all in form and content acceptable to Purchaser. Purchaser shall have twenty one (21) days from the Effective Date of this Agreement to complete the NSP Due Diligence Reports acceptable to meet NSP Guidelines. Purchaser shall have the right to Terminate this Agreement if the findings contained in the NSP Due Diligence Reports preclude the purchase of the Property under NSP Guidelines and Seller elects not to remedy the environmental findings which election shall he in Seller's sole and absolute discretion. If Purchaser raises an objection based on the findings contained in the NSP Due Diligence Reports, Purchaser shall deliver a copy of said NSP Due Diligence Reports to Seller along with its written objections thereto within twenty one (21) days of the Effective Date of this Agreement. Seller shall five (5) days from receipt of the Purchaser's objections to review and respond to Purchaser. (iii) If Purchaser is required to obtained approval, from a separate governmental entity to purchase the Property, Purchaser shall have twenty one 7 (21) days from the Effective Date of this Agreement to obtain such official approval. In the event any of the foregoing conditions precedent to Purchaser's obligation to close are not fulfilled on or before the Closing Date, Purchaser may either waive the objection or terminate this Agreement and any Earnest Money deposit will be returned to Purchaser as Purchaser's sole remedy at law or equity and the Parties shall have no further obligation under this Agreement except as to any provision that survives termination pursuant to Paragraph 20 of this Agreement. Unless otherwise agreed upon between the Parties and as reflected on the closing statement for the transaction which is the subject of this Agreement, the cost of the NSP Appraisal and the NSP Due Diligence Reports shall be at the sole cost and expense of Purchaser. 15. Remedies for Default: (a) In the event of Purchaser's default, material breach or material misrepresentation of any fact under the terms of this Agreement, Seller, at its option, may retain any other funds then paid by Purchaser as liquidated damages and/or invoke any other remedy expressly set out in this Agreement and Seller is automatically released from the obligation to sell the Property to Purchaser and neither Seller nor its representatives, agents, attorneys, successors, or assigns shall be liable to Purchaser for any damages of any kind as a result of Seller's failure to sell and convey the Property. (b) In the event of Seller's default or material breach under the terms of this Agreement or if Seller terminates this Agreement as provided under the provisions of this Agreement, Purchaser shall be entitled to the return of the Earnest Money deposit as Purchaser's sole and exclusive remedy at law and/or equity. Any reference to a return of Purchaser's Earnest Money deposit contained in the Agreement shall mean a return of the Earnest Money deposit less any escrow cancellation fees applicable to Purchaser under this Agreement and less fees and costs payable for services and products provided during escrow at Purchaser's request. Purchaser waives any claims that the Property is unique and Purchaser acknowledges that a return of its Earnest Money deposit can adequately and fairly compensate Purchaser. Upon return of the Earnest Money deposit to Purchaser, this Agreement shall be terminated, and Purchaser and Seller shall have no further liability, no further obligation, and no further responsibility each to the other and Purchaser and Seller shall be released from any further obligation each to the other in connection with this Agreement. (c) Purchaser agrees that Seller shall not be liable to Purchaser for any special, consequential or punitive damages whatsoever, whether in contract, tort (including negligence and strict liability) or any other legal or equitable principle, or any other such expense or cost arising from or related to this Agreement or a breach of this Agreement. (d) Any consent by any Party to, or waiver of, a breach by the other, whether express or implied, shall not constitute consent to, waiver of, or excuse for any different or subsequent breach. 8 (e) In the event either Party elects to exercise its remedies as described in this Paragraph 15 of this Agreement, and this Agreement is terminated, the Parties shall have no further obligation under this Agreement except as to any provision that survives the termination of this Agreement pursuant to Paragraph 20 of this Agreement. 16. Indemnification: Purchaser agrees to indemnify and fully protect, defend, and hold Seller, its officers, directors, employees, shareholders, servicers, representatives, agents, attorneys, tenants, brokers, successors or assigns harmless from and against any and all claims, costs, liens, loss, damages, attorney's fees and expenses of every kind and nature that may be sustained by or made against Seller, its officers, directors, employees, shareholders, servicers, representatives, agents, attorneys, tenants, brokers, successors or assigns, resulting from or arising out of: (a) inspections or repairs made by Purchaser or its agents, employees, contractors, successors or assigns; (b) the imposition of any fine or penalty imposed by any municipal or governmental entity resulting from Purchaser's failure to timely obtain any necessary Certificate of Occupancy or to comply with equivalent laws and regulations; and (c) claims for amounts due and owed by Seller for taxes, homeowner association dues or assessment or any other items prorated at closing under Paragraph 6 of this Agreement, including any penalty or interest and other charges, arising from the proration of such amounts for which Purchaser received a credit at closing under Paragraph 7 of this Agreement. Notwithstanding the foregoing, the Purchaser's Indemnity shall include all claims arising or accruing as a result of(i) Purchaser or Purchaser's tenants, agents or representatives use and/or occupancy of the Property prior to closing and/or issuance of any required Certificate of Occupancy, (ii) any claims relating in any way to any theft or damage of the personal property located in the Property that occurs after the Date of Closing or (iii) in addition to claims related to the indemnity provided at Paragraph 16 (a) above, any claims in any way related to possession or presence of the Purchaser, agents, employees, contractors, successors or assigns its agents on or around the Property, 17. Risk of Loss: In the event of fire, destruction, or other casualty loss to the Property after the Seller's acceptance of the Agreement and prior to closing and funding, after the occurrence of such casualty,the Seller may, at its sole discretion do any one of the following: (i) if the damage is not material, and Seller chooses to repair or restore the Property, Seller may elect to notify the Purchaser of its intention to proceed to closing without offering any adjustment to the Purchase Price or the Purchase Price as set forth at Paragraph 2 and Purchaser shall proceed to closing as described in the Seller's Notice (described below); (ii) if the damage is material (material defined as 10% or $10,000 which ever is greater) and Seller chooses to repair or restore the Property, Seller may elect to notify 9 the Purchaser of its intention to proceed to closing without offering any adjustment to the Purchase Price or the Purchase Price as set forth at Paragraph 2; (iii) if Seller chooses not to repair or restore the Property, Seller may elect to notify the Purchaser of its intention to proceed to closing without offering any adjustment to the Purchase Price or the Purchase Price as set forth at Paragraph 2;or (iv) if Seller chooses to repair or restore the Property, Seller may elect to notify the Purchaser of its intention to proceed to closing with an appropriate adjustment to the Purchase Price or the Purchase Price as set forth at Paragraph 2, and (v) if Seller chooses not to repair or restore the Property, Seller may elect to notify the Purchaser of its intention to proceed to closing with an appropriate adjustment to the Purchase Price or the Purchase Price as set forth at Paragraph 2. Seller shall give Purchaser written notice ("Seller's Notice") within a reasonable time after the occurrence of such damage of its election to proceed under any of items (i) through (v) above. Seller shall include in any such Seller's Notice the date of the intended closing date and the amount, if any of any proposed adjustment to the Purchase Price or to the Purchase Price. If the Seller elects in its Seller's Notice to proceed under subsections (ii) through (v) above, the Purchaser shall either (a) agree to acquire the Property in its then AS-IS condition and proceed to closing or (b) terminate the Agreement or (c) Purchaser and Seller agree to new purchase price. If the Purchaser teiiiiinates the Agreement as provided in this subsection, the Earnest Money Deposit shall be immediately returned to the Purchaser and the Agreement shall be null and void and neither party shall have any further rights or liabilities hereunder except as provided in Section 20. 18. Eminent Domain: In the event that Seller's interest in the Property, or any part thereof, shall have been taken by eminent domain or shall be in the process of being taken on or before the Closing Date, either Party may terminate this Agreement and the Earnest Money deposit shall be returned to Purchaser and neither Party shall have any further rights or liabilities hereunder except as provided in Paragraph 20 of this Agreement. 19. Keys: Purchaser understands that if Seller is not in possession of keys, including but not limited to, mailbox keys, recreation area keys, gate cards, or automatic garage remote controls, then the cost of obtaining the same will be the responsibility of Purchaser. Purchaser also understands that if the Property includes an alarm system, Seller cannot provide the access code and/or key and that Purchaser is responsible for any costs associated with the alarm and/or changing the access code or obtaining keys. If the Property is presently on a Master Key System, Seller will re-key the exterior doors to the Property prior to closing and funding at Purchaser's ;.xpense. Purchaser authorizes and instructs escrow holder to charge the account of Purchaser at closing for the rekey. 20. Survival: Delivery of the deed to the Property to Purchaser by Seller shall be deemed to be full performance and discharge of all of Seller's obligations under this Agreement. 10 Notwithstanding anything to the contrary in this Agreement, the provisions of Paragraph 16 of this Agreement, as well as any other provision which contemplates performance or observance subsequent to any termination or expiration of this Agreement, shall survive the closing, funding and the delivery of the Deed and/or termination of this Agreement by any Party and continue in full force and effect. 21. Severability: The invalidity, illegality or enforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, all of which shall remain in full force and effect. 22. Assignment of Agreement: Purchaser shall not assign this Agreement without the express written consent of Seller. Seller may assign this Agreement at its sole discretion without prior notice to, or consent of, Purchaser. 23. Entire Agreement: This Agreement, including the disclosure of information on lead based paint and/or lead based paint hazards or Seller Disclosure and Release Addendum or other disclosure forms or notices required by law, constitutes the entire agreement between Purchaser and Seller concerning the subject matter hereof and supersedes all previous communications, understandings, representations, warranties, covenants or agreements, either written or oral and there are no oral or other written agreements between Purchaser and Seller. NO ORAL PROMISES, REPRESENTATIONS (EXPRESSED OR IMPLIED), WARRANTIES OR AGREEMENTS MADE BY SELLER AND/OR BROKERS OR ANY PERSON ACTING ON BEHALF OF SELLER SHALL BE DEEMED VALID OR BINDING UPON SELLER UNLESS EXPRESSLY INCLUDED IN THIS AGREEMENT. All negotiations are merged into this Agreement. Seller is not obligated by any other written or verbal statements made by Seller, Seller's representatives, or any real estate licensee. 24. Modification: No provision, term or clause of this Agreement shall be revised, modified, amended or waived except by an instrument in writing signed by Purchaser and Seller. 25. Rights of Others: This Agreement does not create any rights, claims or benefits inuring to any person or entity, other than Seller's successors and/or assigns, that is not a Party to this Agreement, nor does it create or establish any third Party beneficiary to this Agreement. 26. Counterparts: This Agreement may be executed in any number of counterparts and each such counterpart shall be deemed to be an original, but all of which, when taken together, shall constitute one agreement. 27. Headings: The titles to the sections and headings of various paragraphs of this Agreement are placed for convenience of reference only and in case of conflict, the text of this greement, rather than such titles or headings shall control. 28. Gender: Unless the context otherwise requires, singular nouns and pronouns, when used herein, shall be deemed to include the plural of such nouns or pronouns and pronouns of one gender shall be deemed to include the equivalent pronoun of the other gender. 29. Force Majeure: Except as provided in Paragraph 17 to this Agreement, no Party i 11 be responsible for delays or failure of performance resulting from acts of God, riots, acts of 11 war, epidemics, power failures, earthquakes or other disasters, providing such delay or failure of perfoimance could not have been prevented by reasonable precautions and cannot reasonably be circumvented by such Party through use of alternate sources, workaround plans or other means. 30. Attorney Review: Purchaser acknowledges that Purchaser has had the opportunity to consult with its legal counsel regarding this Agreement and that accordingly the terms of this Agreement are not to be construed against any Party because that Party drafted this Agreement or construed in favor of any Party because that Party failed to understand the legal effect of the provisions of this Agreement. 31. Notices: Any notices required to be given under this Agreement shall be deemed to have been delivered when actually received in the case of hand or overnight delivery, or five (5) days after mailing by first class mail, postage paid. All notices to Seller will be deemed sent or delivered to Seller when sent or delivered to Seller's listing broker or agent, at the address set forth in Paragraph 1 or as otherwise provided in writing to the other Party. All notices to Purchaser shall be deemed sent or delivered when sent or delivered to Purchaser or agent at the address set forth in Paragraph 1 or as otherwise provided in writing to the other Party. 32. Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the successors and assigns of each of the Parties hereto. 33. Attorneys' Fees. Each Party shall pay the fees and costs of its own counsel. In the event a legal proceeding is commenced to enforce this Agreement, the prevailing Party shall be entitled to reasonable attorneys' fees and costs from the other Party. 34. Governing Law. This Agreement shall be governed and construed in accordance with the laws of the jurisdiction in which the Property is located. 35. Dispute Resolution: At the request of either Party, any dispute arising under this Agreement shall be submitted to mediation before resorting to arbitration or court action. Mediation fees shall be divided equally and each Party shall bear his or its own attorney's fees and costs. Neither Party may require binding arbitration prior to commencement of court action, although the parties may mutually agree to such arbitration. 36. Deliveries by Seller. Within seven (7) days after the date of this Agreement, if not already delivered to Purchaser, Seller shall deliver the following to Purchaser: (a) Copies of all licenses, permits, inspection reports, zoning information and Certificates of Occupancy in Seller's possession, if any. (b) All building plans, diagrams, architect drawings, surveys and construction or architect contracts in Seller's possession, if any. 37. Closing Documents. The following documents shall be executed and delivered at time of closing: (a) Seller Documents: 12 (i) Deed; (ii) Affidavit Regarding Seller; (iii) FIRPTA Affidavit; and (iv) Executed Settlement Statement. (b) Purchaser documents: (i} Affidavit Regarding Purchaser; (ii) Executed Settlement Statement; and (iii) The balance of the Purchase Price due at Closing. 38. State and Local Specific Provisions: See Addendum 2 39. As-Is Sale Property Condition: (a) The Purchaser understands that Seller acquired the Property by foreclosure, deed-in-lieu of foreclosure, forfeiture, tax sale, or similar process, and consequently, Seller has little or no direct knowledge concerning the condition of the Property. As a material part of the consideration to be received by Seller under the Agreement as negotiated and agreed to by Purchaser and Seller, Purchaser acknowledges and agrees to accept the Property in "AS IS" condition at the time of closing, including, without limitation, any hidden defects or environmental conditions affecting the Property, whether known or unknown, whether such defects or conditions were discoverable through inspection or not. Purchaser acknowledges that Seller, and its agents, brokers, and representatives have not made, and Seller specifically negates and DISCLAIMS, ANY representations, warranties, promises, covenants, agreements, or guarantees, implied or express, oral or written, with respect to: (i) the physical condition or any other aspect of the Property including, but not limited to: the structural integrity or the quality or character of materials used in construction of any improvements, availability and quantity or quality of water, stability of the soil, susceptibility to landslide or flooding, sufficiency of drainage, water leaks, water damage, mold or any other matter affecting the stability or integrity of the Property; (ii) the conformity of the Property to any zoning, land use or building code requirements or compliance with any laws, statutes, rules, ordinances, or regulations of any federal, state or local governmental authority, or the granting of any required permits or approvals, if any, of any governmental bodies that had jurisdiction over the construction of the original structure, any improvements, and/or any remodeling of the structure; 13 (iii) the habitability, merchantability, marketability, profitability or fitness for a particular purpose of the Property, including redhibitory vices and defects, apparent or non-apparent or latent, that now exist or may hereafter exist and that, if known to Purchaser, would cause Purchaser to refuse to purchase the property; and (iv) the existence, location, size, or condition of any outbuildings or sheds on the property. (b) Mold,mildew, spores and/or other microscopic organisms and/or allergens (collectively referred to in the Agreement as "Mold") are environmental conditions that are common in residential properties and may affect the Property. Mold, in some forms, has been reported to be toxic and to cause serious physical injuries, including but not limited to, allergic and/or respiratory reactions or other problems, particularly in young children, elderly persons, persons with immune system problems, allergies, or respiratory problems, and pets. Mold has also been reported to cause extensive damage to personal and real property. Purchaser is advised to thoroughly inspect the Property for Mold. Mold may appear as discolored patches or cottony or speckled growth on walls, furniture or floors, behind walls and above ceilings. Any and all presence of moisture, water stains, mildew odors, condensation, and obvious Mold growth, are all possible indicators of a Mold condition, which may or may not be toxic. Mold may have been removed or covered in the course of any cleaning or repairing of the Property. Purchaser acknowledges that, if Seller, or any of Seller's employees, contractors, representatives, brokers, or agents cleaned or repaired the Property or remediated the Mold contamination, that Seller does not in any way warrant the cleaning, repairs, or remediation, or that the Property is free of Mold. Purchaser is further advised to have the Property thoroughly inspected for Mold, any hidden defects, and/or environmental conditions or hazards affecting the Property. Purchaser is also advised that all areas contaminated with Mold should be properly and thoroughly remediated. Purchaser represents and warrants that: (A) Purchaser accepts full responsibility and liability for all hazards, and Claims that may result from the presence of Mold in or around the Property; (B) If Purchaser proceeds to close on the purchase of the Property, then Purchaser has inspected and evaluated the condition of the Property to Purchaser's complete satisfaction, and Purchaser is satisfied with the condition of the Property notwithstanding the past or present existence of Mold in or around the Property; and (C) Purchaser has not, in any way, relied upon any representations or warranties of Seller, or Seller's employees, officers, directors, contractors, representatives, brokers, or agents concerning the past or present existence of Mold or any environmental conditions in or around the Property. (c) In the event the Property is affected by an environmental condition either Party may terminate the Agreement. In the event the Seller decides to sell the Property to the Purchaser and the Purchaser agrees to purchase the Property (as evidenced by Purchaser and Seller proceeding to close) despite the presence of an environmental condition, the Purchaser releases the Seller and the parties related to the Seller described in Paragraph 16 as the indemnified parties "(Indemnified Parties") from any claims 14 arising out of or relating in any way to the environmental conditions of the Property, and Purchaser agrees to also execute an additional general release at closing, in a form acceptable to Seller, related to the environmental condition if Seller so requests. In the event the Purchaser elects not to execute the additional release, Seller may, at the Seller's sole discretion, terminate the Agreement upon notice given to Purchaser. In the event the Agreement is terminated by either Purchaser or Seller pursuant to this Paragraph 39(c), any Earnest Money Deposit will be returned to the Purchaser. The cost of any environmental report shall be at the sole cost and expense of the Purchaser, unless required to be paid for by the Seller under applicable law. (d) In the event the Seller has received official notice that the Property is in violation of building codes or similar laws or regulations, the Seller may terminate the Agreement or delay the date of closing or the Purchaser may terminate the Agreement. In the event the Agreement is terminated by either Purchaser or Seller pursuant to this Section 39, any Earnest Money Deposit will be returned to the Purchaser. If there is an enforcement proceeding arising from allegations of such violations before an enforcement board, special master, court or similar enforcement body, and neither the Purchaser nor the Seller terminate the Agreement, the Purchaser agrees (A) to accept the Property subject to the violations, and (B) to be responsible for compliance with the applicable code and with orders issued in any code enforcement proceedings, unless otherwise prohibited by applicable law or ordinance. Purchaser agrees to execute for closing any and all documents necessary or required by any agency with jurisdiction over the Property and to resolve the deficiencies as soon as possible after the closing. (e) The closing of this sale shall constitute acknowledgement by the Purchaser that Purchaser had the opportunity to retain an independent, qualified professional to inspect the Property and that the condition of the Property is acceptable to the Purchaser at the time of closing. The Purchaser agrees that Seller shall have no liability for any Claims that the Purchaser or the Purchaser's successors or assigns may incur as a result of construction or other defects that may now or hereafter exist with respect to the Property. The cost and expense of any inspection shall be at the sole cost and expense of the Purchaser, unless otherwise prohibited by applicable law or ordinance. (f) The Seller may be exempt from filing a disclosure statement regarding the condition of the Property because the Property was acquired through foreclosure, deed- in-lieu of foreclosure, forfeiture, tax sale, eminent domain or similar process. To the fullest extent allowed by law, Purchaser waives any right to receive a disclosure statement from Seller, and Purchaser agrees to execute a separate waiver, if the law requires the waiver to be in a separate form. 40. Purchaser's Waiver of Important Rights: (a) The Purchaser further waives the following, to the fullest extent permitted by law: (i) all rights to file and maintain an action against the Seller for specific performance; 15 (ii) right to record a lis pendens against the Property or to record this Agreement or a memorandum thereof in the real property records; (iii) right to invoke any equitable remedy that would prevent the Seller from conveying the property to a third party purchaser; (iv) any claims arising from the adjustments or prorations or errors in calculating the adjustments or prorations that are or may be discovered after closing unless such claims are material and purchaser notifies Seller in writing of such claims within thirty(30) days of the closing date; (v) any remedy of any kind that the Purchaser might otherwise be entitled to at law or equity (including, but not limited to, rescission of the Agreement), except as expressly provided in this agreement; (vi) any right to a trial by jury in any litigation arising from or related in any way to this Agreement; (vii) any right to avoid the sale of the Property or reduce the price or hold the Seller liable for any claims arising out of or related in any way to the condition, construction, repair, or treatment of the Property, or any defects, apparent or latent, that may now or hereafter exist with respect to the Property; (viii) any claims arising out of or relating in any way to encroachments, easements, boundaries, shortages in area or any other matter that would be disclosed or revealed by a survey or inspection of the Property or search of public records; and (ix) any claims arising out of or relating in any way to the square footage, size, or location of the Property, or any information provided on the multiple listing service, or brochures or web sites of Seller or Seller's agent or broker. 41. Bargain Sale; Charitable Donation: The Parties agree that if the Property is being donated to the Purchaser the Purchase Price shall be determined based upon the bargain sale rules of the IRC, each party shall determine the extent to which the structure of the transaction affects the tax liability, if any of each such Party. The parties agree further to make any necessary changes to this Agreement to conform to the bargain sale rules of the IRC. 42. Authority: Each Party has full power and authority to enter into this Agreement and to perform all its obligations hereunder, and has taken all action required by law, its governing instruments, or otherwise to authorize the execution, delivery, and performance of this Agreement and all the deeds, agreements, certificates, and other documents contemplated herein. This Agreement has been duly executed by and is a valid and binding agreement, enforceable in accordance with its terms, except as enforceability may be limited by equitable principles or by the laws of bankruptcy, insolvency, or other laws affecting creditors' rights generally. 16 43. Certificate of Occupancy. In the event the municipality or agency of the municipality in which the Property is located requires the delivery of a certificate of occupancy prior to the transfer to title to the Property or for the occupancy of the Property by Purchaser, the Parties agree that the Seller shall not be obligated to provide any such certificate of occupancy as a condition of the Closing. Purchaser agrees to accept the Property without such certificate of occupancy and to be responsible for all costs relating to the securing of such certificate. 44. Condominium or Planned Unit Development. If the Property is a condominium or planned unit development or co-operative, unless otherwise required by law, Purchaser, at Purchaser's own expense, is responsible for obtaining and reviewing the covenants, conditions and restrictions and bylaws of the condominium, or planned unit development or cooperative within ten (10) days of the Effective Date of this Agreement. Seller agrees to use reasonable efforts, as determined at Seller's sole discretion, to assist Purchaser in obtaining a copy of the covenants, conditions and restrictions and bylaws. Purchaser will be deemed to have accepted the covenants, conditions and restrictions and by laws if Purchaser does not notify Seller in writing, within fifteen (15) days of the effective Date of this Agreement, of Purchaser's objection to the covenants, conditions and restrictions and/or bylaws. 45. Broker Commissions. Seller and Purchaser hereby each warrant to the other that Seller nor Purchaser have engaged or dealt with any broker or agent entitled to a commission except for Carter Wheeler (Seller's agent) who shall be entitled to a commission in the amount of $1,250.00, and N/A (Purchaser's agent) who shall be entitled to a commission in the amount of$ N/A paid by Seller only if and when Closing shall occur (collectively the "Brokers") as broker/salesman broker or agent with respect to the purchase and sale of the Property as contemplated by this Agreement. 17 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date and year first above written. SELLER: BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certificateholders of CWABS 2005-06 By: w .. A Kellie Mavro as Its: Asset Manager PURCHASER: Collier County, a Political Subdivision of the State of Florida *See substitute signature page attached hereto* 18 Project: Neighborhood Stabilization Program Folio Number: 36309240001 Property Address: 5271 24th Ave SW, Naples, 34116 Document: Purchase and Sale Agreement SUBSTITUTE SIGNATURE PAGE Date property acquisition approved by BCC: March 24, 2009, Item 1OF AS TO PURCHASER: t -"�'/ DATED: C 09 ATTEST: BOARD OF CO NTY COMMISSIONERS DWIGHT E,BROGK, Clerk COLLIER C 'TY, FLORIDA/ AA BY: ,�.�e re- —a ai►e•ty Clerk Donna Fiala, Chairman 01 ,14 Approved as to form and legal sufficiency: Jennifer B. White Assistant County Attorney EXHIBIT "A" Legal Description of Property Folio # 36309240001 The West 53.34 of Lot 19, and the East 53.32 feet of Lot 20, Block 192, GOLDEN GATE UNIT 6, according to the Plat thereof, of record in Plat Book 5, Pages 124 through 134, of the Public Records of Collier County, Florida. Exhibit A EXHIBIT "B" Personal Property NONE, UNLESS SPECIFICALLY IDENTIFIED BELOW: Exhibit B REAL ESTATE APPRAISAL Folio No. 363092.400011 Property Address 15271 24TH AVE SW NAPLES FL 3-1116 Owner Name BANK OF NEW YORK TR%SMITH IIIATT& IIIAZ PA Addresses PO BOX 11438 City FORT LAUDERDALE 1 State JFL [ Zip I 33339 Legal GOLDEN GATE ['NIT 6 BLK 192 W53.34FEOF LOT 19+ E 53.32F1'OF LOT 20 i Section I Township Range Acres Map No. Strap No. 21 49 } 26 0.31 TYPE. RESIDENTIAL USE s-/ Millage Area Millage - Use Code MULTIFAMILY • I_ SUBJECT PROPERTY COMPARABLE NO. 1 COMPARABLE NO.2 COMPARABLE NO. 3 5271 24TH AVE SW 5400 24TH AVE SW 5387 24TH AVE SW 2483 55TH TER SW Proximity to Subject _ WITHIN 2 MILES WITHIN 2 MILES WITHIN 2 MILES Sales Price $87,000 $85,000 $72,000 Unit Price Data Source PUBLIC RECORDS Property Appraiser Sales Data Property Appraiser Sales Data Property Appraiser Sales Data +/-$ +/-$ +/-$ Date of Sale&Time DESCRIPTION Adjustment DESCRIPTION Adjustment DESCRIPTION Adjustment Adjustment 6/00/2009 $0 4/00/2009 $0 3/00/2009 $0 Location GG CITY-Bank REO Equal _ $0 Equal $0 Equal $0 AGE _ RES/YR 1989 Res/YR 1989 $0 Res/yr 1988 $0 Res/Yr 1988 $0 Style RANCH/1,508 SF RANCH/1,928sf Minus , RANCH/1,971SF Minus RANCH/1,660SF Minus Size/Acres 0.31 AC 0.29 AC $0 0.31 AC $0 0.26 AC $0 Exterior CBS STUCCO SIMILAR $0 SIMILAR $0 SIMILAR $0 Garage NO GARAGE NO GARAGE $0 NO GARAGE $0 NO GARAGE $0 Amenities/Pool, Etc MULTIFAMILY Equal $0 Equal $0 Equal $0 Sales or Financing Concessions CASH CASH CASH Net Adj. (Total) -$9,000 -$9,000 -$2,000 Indicated Value of Subject $78,000 $76,000 $70,000 Comments on Market Data:Considering the current Real Estate climate and the number of unsold properties,all the market data used in the appraisal report is from formerly bank REO properties.The estimated value is$70,000.The subject property has been vacant for at least 90 days as of 9/10/2009. Comments and Conditions of Appraisal: The interest being appraised is fee simple, and the highest and best use of the parcel is considered vacant. The 4 elements of H & B use are considered, and the sales approach is considered most realiable. The appraiser's decisions and scope of work are relevant to any characteristics applicable to extraordinary assumptions or hypothetical conditions. The three approaches to value are considered, however, only the sales approach applies to the appraisal scope of the assignment. Final Reconciliation: All three approaches were considered in the valuation of this parcel. The sales approach method is given most weight. The value of the opinions and conclusions may be affected due to later known or unknown adverse conditions that exist with the subject property. ESTIMATE MARKET VALUE: $70,000 MATHEMATICALLY: /_, Appraiser: `��-� �' 6/16/2009 Roosevelt Leonard•. _ _____, r, _...I. n.____:..._i r__.. nn n._.. n14ninc Berman Rennert Vogel & Mandler, P.A. Wire Instructions Bank of America 100 S.E. 2nd Street, Miami, FL 33131 ABA # 026009593 Acct# 004501009454 Account Name: Berman Rennert Vogel & Mandler, P.A. Real Estate Trust Account Reference: 6-- UP I D 39( 7-S--(ia IMPORTANT: PLEASE MAKE SURE THAT WIRE REFERENCES THE PROPER TRANSACTION S' 7( L"Tl/ /}�JG S �11�1 ��i rL4i P qi )Duero ' 3623o ( or yr Co1(ter County Vendor Information Substitute W--9 Form REQUEST FOR TAXPAYER IDENTIFICATION NUMBER AND CERTIFICATION In accordance with the Internal Revenue Service regulations, Collier County is required to collect the following information for.tax reporting purposes from individuals and companies who do business with the County(including social security numbers if used by the individual or company 'for tax reporting purposes). Florida Statute 119.071(5)requires that the county notify you In writing of the reason for collecting this information, which will be • used for no other purpose than herein stated: Please complete all,information that applies to your business and return via email to the address below. Prompt return of information will facilitate timely payment for goods and services provided to the County. • 1. General information / Taxpayer Name • 34A4�Lt' rasr�/�fi . , .•. � of / A (as shown on income tax re m) Business Name . 1} • (if different from Address lcttaX name) - iIt Z1(LCity 'ttA1i State_ zip 3313 ( ' Telaph r e 1�'�{ll ) FM 4 c"33-rd-IS- Email . 51•-61//N 6 6r__J N L:ALJ.C-01-1 Order information: Same as above, Remit I Payment Information: X Same as above,or or • Address Address • City State. Zip • City State Zip • • • •FAX • FAX • Email Email • • 2. Company Status(check only one) .• • 0 Individual/Sole Proprietor Corporation I 0 Partnership .0 Tax Efcempt(Federal Income tax-exempt entity 0 Limited Liability Company • under Internal Revenue Service guidelines IRC 501(c)3) . Enter the tax classification • D=Cs:.ended En , C= . .. :t/on,P=Partnershl• • • 3. Taxpayer Identification Number(for tax reporting purposes only) social Security Number(SSN) OR Federal Tax identification Number(TIN) 6 9 V ( { 2-7 U • 4_ Sign and date Fo Certification:Un•:,,4•• es of perjury,I certify that the inform: on shown on this form is to my knowledge. Signature rr - . . 'Date C 13 2,a--)c) Titles 3fl •P U • ► � . . Phone Number 30S:S7 `i 1 7 • WndorFtaquika,SubWO • Red.n4 111-17/07 • • • 14"A . COLLIER COUNTY GOVERNMENT DIVISION OF ADMINISTRATIVE SERVICES 3301 E. TAMIAMI TRAIL REAL PROPERTY MANANAGEMENT NAPLES, FL 34112 PHONE (239) 252-8991 FAX (239) 252-8876 August 19, 2009 Bank of New York as Trustee for the Certificate Holders of CWABS 2005-06 do Smith, Hiatt& Diaz, P.A. P.O. Box 11438 Fort Lauderdale, FL 33339-1438 Re:NSP Voluntary Acquisition of Foreclosed Property Informational Notice dated July 10,2009—5271 24th Avenue SW,Naples,FL 34116 Certified Return Receipt No.: 7008 1830 0000 9948 0241 Ladies and Gentlemen: Attached for your ease of reference is a copy of our NSP Voluntary Acquisition of Foreclosed Property Informational Notice relating to the above captioned property, which was sent to you on July 10,2009. You are advised that the zip code stated as part of the address in the first line of the body of our notice was incorrectly stated. The zip code designation of the property was shown as 34120, when in fact the correct zip code is 34116. We apologize for any inconvenience that our error may have caused. Should you have questions, please do not hesitate to contact the undersigned. Thank you very much. Very truly yours, ry ' low Pr erty Acquisition Specialist Collier County Real Property Management, Bldg. W, 3301 Tamiami Trail East, Naples, FL 34112 239 252-8073 �t.•v ` •x'_-, `fie.. Vs y COLLIER COUNTY GOVERNMENT DIVISION OF ADMINISTRATIVE SERVICES 3301 E. TAMIAMI TRAIL RFAi, PROPERTY MANANAGEM1:N'1' NAPLES. FL 34112 PHONE (239) 252-8991 FAX (239) 252-8876 NSP VOLUNTARY ACQUISITION OF FORECLOSED PROPERTY Informational Notice July 10, 2009 Bank of New York as Trustee for the Certificate Holders of CWABS 2005-06 c/o Smith, Hiatt & Diaz, P.A. P.O. Box 11438 Fort Lauderdale, FL 33339-1438 Certified Return Receipt No.: 7004 2510 0004 6992 3125 Ladies and Gentlemen: Collier County, Florida is interested in acquiring property you own at 5271 24th Avenue SW, Naples, FL 34120 for a project receiving funding assistance from the U. S. Department off lousing and Urban Development (HUD) under the Neighborhood Stabilization Program (NSP). Please be advised that, Collier County, Florida possesses eminent domain authority to acquire property, however, in the event you are not interested in selling your property, or if we cannot reach an amicable agreement for the purchase of your property, we will not pursue its acquisition under eminent domain. Your property is not a necessary part of the proposed project and is not part of an intended, planned, or designated project area where substantially all of the property within the area is to be acquired. Under the NSP, we are required to purchase foreclosed property at a discount from its current market appraised value. Our appraisal indicates the property's market value is $70,000.00. We are prepared to offer you $47,500.00 to purchase your property. This offer is less than the current market appraised value as required by the NSP. Please contact us at your convenience if you are interested in selling your property. In accordance with the Uniform Relocation Assistance and Real Property Acquisition Policies Act (URA), owner- . occupants who move as a result of a voluntary acquisition are not eligible for relocation assistance. A tenant-occupant who moves as a result of a voluntary acquisition for a federally-assisted project may be eligible for relocation assistance. Such displaced persons may include not only current lawful occupants, but also former tenants required to move for any reason other than an eviction for cause in accordance with applicable federal, state, and local law. If your property is currently tenant-occupied or a tenant lawfully occupied your property within the past 3 months prior to our offer, we need to know immediately. Further, you should not order current occupant(s) to move, or fail to renew lease, in order to sell the property to us as vacant. u have an /questions about this notice or the proposed project, please contact: / , . Jar)/ Bigelow, Prot rty Acquisition Specialist Collier County Real Property Management. Bldg. W, 3301 Tamiami Trail Fast, Naples, FL 34112 239 252-8073 Bi.elowGar From: KrumbineMarcy Sent: Friday, July 10. 2009 9 32 AM To: BigelowGary Subject: Re Countrywide Offer 5271 24th AVE SW 34116(DUPLEX) I heartily approve of their offer. Marcy Krumbine Director Housing and Human Services Sent from my Blackberry Wireless Original Message From: BigelowGary To: KrumbineMarcy CC: mott t; RussellHans Sent: Fri Jul 10 09: 29:49 2009 Subject : RE: Countrywide Offer - 5271 24th AVE SW 34116 (DUPLEX) Yes, that was their lender reduction. Caught us by surprise as well. Original Message From: KrumbineMarcy Sent: Friday, July 10, 2009 9 : 28 AM To: BigelowGary Subject: Re: Countrywide Offer - 5271 24th AVE SW 34116 (DUPLEX) Excuse me? We offered SO and they countered with less? Marcy Krumbine Director Housing and Human Services Sent from my Blackberry Wireless Original Message From: BigelowGary To: KrumbineMarcy CC: mott t; RussellHans; LeonardRoosevelt Sent : Fri Jul 10 09 :20 : 54 2009 Subject : Re: Countrywide Offer - 5271 24th AVE SW 34116 (DUPLEX) Marcy: Countrywide has given us a lender reduction price of $47, 500 . We offered $50, 000 on 6/26/09 as you directed in email on that date. We need to respond to BAC/Countrywide today if we accept their counter price. Please let us know at your earliest convenience. Thank you. ADDRESS: 5271 24th AVE SW 34116 (DUPLEX) INSPECTED: 6/23/2009 LIST PRICE: TBD ($47, 500 Lender Reduction) APPRAISED VALUE: $70, 000 85% OF APPRAISED VALUE: $59, 600 REHAB COST: $59, 975 A $47, 500 purchase price plus $59, 975 rehab would yield a total cost of $107,475. Gary Bigelow Property Acquisition Specialist Collier County Real Property Management 239-252-8073 Please note: Florida has a very broad public records law. Most written communications to or from County officials regarding County business are public records available to the public and media upon request. Your e-mail communications may be subject to public disclosure. 1 Page 1of4 BigelowGary From: BigelowGary Sent: Friday, July 10, 2009 9:38 AM To: 'Mavrolas, Kellie; Burgess. Jaime; Robinson, Johanna Cc: mott t: RussellHans; LeonardRoosevelt Subject: FW: Collier County Property Report as of 07.08.09 Importance: High Attachments: ASP_ REO ID 391756 - 5271 24 Avenue SW, Naples_07.09.09.xIs Tracking: Recipient Read 'Mavrolas, Kellie' Burgess, Jaime Robinson,Johanna mott t RussellHans Read:7/10/2009 9:45 AM LeonardRoosevelt Read: 7/10/2009 10:00 AM Kellie. VVe heartily accept BAC's offer price as I have indicated on the attached document. We look forward to a successful and timely transaction. Thank you very much for your hard work. Gary From: Mavrolas, Kellie [mailto:kellie.mavrolas©bankofamerica.com] Sent: Thursday, July 09, 2009 7:31 PM To: RussellHans Cc: mott_t; BigelowGary; Burgess, Jaime; Robinson, Johanna Subject: RE: Collier County Property Report as of 07.08.09 Hi Hans; I understand your concern but I have made a note of the properties you are interested and I will keep you posted as to when I can provide you pricing. Jaime and I will set up a conference call next week so we can "meet" one another. Please find the attached adjusted pricing for 5271 24 Avenue 5W, Naples. Please respond with your acceptance or rejection by end of business 07/13/2009. Thank you! Kellie Mavrolas LA-REO Marketing SV 400 Countrywide Way Mail Code: CA6-919-01-11 Simi Valley, CA 93065 805-520-5316 - Office 92-598-5316 - Internal 805-577-3481 - Fax 7/10/2009 Page 2 of 4 This communication may contain privileged and/or confidential information. It is intended solely for the use of the addressee. If you are not the intended recipient, you are strictly prohibited from disclosing, copying, distributing or using any of this information. If you receive this communication in error, please contact the sender immediately and destroy the material in its entirety, whether electronic or hard copy. This communication may contain nonpublic personal information about consumers subject to the restrictions of the Gramm-Leach-Bliley Act. You may not directly or indirectly reuse or re-disclose such information for any purpose other than to provide the services for which you are receiving the information. From: RussellHans [mailto:HansRussell©colliergov.net] Sent: Thursday, July 09, 2009 2:19 PM To: Mavrolas, Kellie Cc: mott_t; BigelowGary; Burgess, Jaime; Robinson, Johanna Subject: RE: Collier County Property Report as of 07.08.09 Thanks, Kellie, We just wanted to be sure that nothing has fallen through the cracks. With regard to the Agreement for 2560 47Th Ave_ NE, please take your time._no pressure from this end. I'm sure Jaime has clued you in on the peculiarities of Collier County acquisitions and the procedures that we've put in place to streamline these deals. Please feel tree to call roe at any time to get acquainted and discuss any questions that you may have. We think we have a good thing going with you guys and my personal objective is to keep it that way. I very much look forward to working with you. Many thanks, Hans Hans Russell Sr. Property Acquisition Specialist Collier County Real Property Management 239 252.-2623 From: Mavrolas, Kellie [mailto:kellie.rnavrolas @bankofamerica.com] Sent: Thursday, July 09, 2009 5:13 PM To: BigelowGary; Burgess, Jaime; Robinson, Johanna Cc: mott_t; RussellHans Subject: RE: Collier County Property Report as of 07.08.09 Importance: High Hi All; I am working on getting you pricing for 5271 24 Avenue SW, Naples FL. 4910 42nd ST NE and 3671 18th AVE NE are still within the valuation process and I will provide you pricing as soon as I can. I am aware that you accepted our offer on 2560 47th Ave NE, I will get you the contract as soon as I can. Thank you! Kellie Mavrolas LA-REO Marketing SV 400 Countrywide Way 7/10/2009 Page 3 of 4 Mail Code: CA6-919-01-11 Simi Valley, CA 93065 805-520-5316 - Office 92-598-5316 - Internal 805-577-3481 - Fax This communication may contain privileged and/or confidential information. It is intended solely for the use of the addressee. If you are not the intended recipient, you are strictly prohibited from disclosing, copying, distributing or using any of this information. If you receive this communication in error, please contact the sender immediately and destroy the material in its entirety, whether electronic or hard copy. This communication may contain nonpublic personal information about consumers subject to the restrictions of the Gramm-Leach-Bliley Act. You -may not directly or indirectly reuse or re-disclose such information for any purpose other than to provide the services for which you are receiving the information. From: BigelowGary [mailto:GaryBigelow @colliergov.net] Sent: Thursday, July 09, 2009 6:20 AM To: Mavrolas, Kellie; Burgess, Jaime; Robinson, Johanna Cc: mott_t; RussellHans • Subject: FW: Collier County Property Report as of 07.08.09 Importance: High Ladies: Please see my notes on the attached list. We did accept the counter offer on 2560 47th Ave NE, and made offers on all but the condominium which does not qualify under the NSP grant. We are waiting BAC's acceptance or counter proposal on the remainder. Please let us know when you have compiled all your data. Thank you very much. and we look forward to our continued partnership. Best regards, Gary From: Mavrolas, Kellie [mailto:kellie.mavrolas @bankofamerica.com] Sent: Wednesday, July 08, 2009 9:25 PM To: BigelowGary; BonoMario Cc: Robinson, Johanna Subject: Collier County Property Report as of 07.08.09 Please see the attachment for the NSP properties available based on the zip codes you provided. If any of these properties seem of interest to you, please mark in column listed as "Property of Interest" and respond back within 48 hours so that we may facilitate initial contact with the respective agent assigned to your properties of interest. If you have any questions please feel free to contact your NSP Representative. Kellie Mavrolas kellie.mavrolas@bankofamerica.com 805-520-5316 Thank you, Kellie Mavrolas LA-REO Marketing SV 400 Countrywide Way Mail Code: CA6-919-01-11 Simi Valley, CA 93065 7;10/2D09 Page 4 of 4 805-520-5316 - Office 92-598-5316 - Internal 805-577-3481 - Fax This communication may contain privileged and/or confidential information. It is intended solely for the use of the addressee. If you are not the intended recipient, you are strictly prohibited from disclosing, copying, distributing or using any of this information. If you receive this communication in error, please contact the sender immediately and destroy the material in its entirety, whether electronic or hard copy. This communication may contain nonpublic personal information about consumers subject to the restrictions of the Gramm-Leach-Bliley Act. You may not directly or indirectly reuse or re-disclose such information for any purpose other than to provide the services for which you are receiving the information. • 7/10P009 17 co 0 U) 1 O (I) J CD O 0-1 O N rh J CD rP N D r•- < -0 m � � Q coo a -0 �, a CD a - Cl) <p zcn cn a m p) Cr CD C) 0 -' CD n S O U) a < rn cD A) A) cr CD > a -z c -C N c CD C) CL J O U) o CD o A) cp o D 3 O 3 • CD O r+ O m Cl) O a) H I > -' > c) 0 n -< -a C) o b ca C a a n- 0 -<• cn a • Z c o ro a n m *** OR: 4446 PG: 0530 *** POWER OF ATTORNEY The undersigned, as Trustee under the Pooling and Servicing Agreements (as defined below) hereby constitutes and appoints Countrywide Home Loans Servicing LP and its authorized officers (collectively, "CHL Servicing")and each of them, its true and lawful attorneys-in-fact and agents, with full powers of substitution and resubstitution, for and in its name, place and stead, in any and all capacities, for the limited purpose of executing and recording any and all documents necessary to effect (i) a foreclosure of a Mortgage Loan,(ii)the disposition of an REO Property, (iii)an assumption agreement or modification agreement or supplement to the Mortgage Note, Mortgage, or deed of trust, and(iv)a reconveyance,deed of reconveyance or release or satisfaction of mortgage or such instrument releasing the lien of a Mortgage in connection with the transactions contemplated in those certain Pooling and Servicing Agreements(the"Pooling and Servicing Agreement") by and among the undersigned, CHL Servicing, CHL, and CWABS, Inc. The undersigned also grants unto said attorneys- in-fact and agents,and each of them,the full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as might or could be done in person to effect items (i), (ii)and (iii)above, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their substitutes, may lawfully do or cause to be done by virtue hereof. Any capitalized term not otherwise defined herein shall have the meaning assigned to such term in the Pooling and Servicin Agreements. C O O r 7:0;7- THE BANK � . � O` YORK MELLON, as Trustee Witness: ,ga/' iig4"1 Asurvi10 Corrie W./er l -nson 'rte ent Witness: �o I � / ., /%1— , lliF'santhis tjj1 C1"R(' auro Palladino Managing Director FE OF: New York COUNTY OF: Queens On the 91h day of July, 2008, before me, Norman Yu, a Notary Public in and for said, personally appeared Michelle Penson, known to me to be as a Vice President, and Mauro Palladino, known to me be a Managing Director of the Bank of New York, a New York banking corporation that executed the within instrument, and also known to me to be the persons who executed said instrument on behalf of said New York banking corporation and acknowledged to me that such New York banking corporation executed the within instrument. - IN WITNESS THEREOF, I have hereunto set my hand an affixed by of cial seal the day ict j61pk. ) this certificate first above written. G',: ~'•• . ' ! Notary Public Norman Yu • NOTARY PUBLIC STATE OF NEW YORK Qualfied in Queens County UC#01 YU6183731 COMM. EXP. 3-24-2012 A/P QECKLIST FOR NSP GRANT (note;athered from NSP Admin Plan and Resolution) ADDRSS: � l� r L—, Appraised Value is discounted at least 5% Property will focus on Zip Codes 34112(E. Naples)or 34116(GG City) or 34120(GG City)--they are flexible if housing market changes ✓ Review all paperwork attached to make sure signed, dated and completely filled out Review specific documents for additional clauses/requirements not noted below and that they have been conformed with r�! All documents are fully executed and have not expired {- Contract extensions approved by Purchasing Dept up to 6 mths, otherwise o g to BCC ACQU-- ION: (D=Received by Deposit,C=Received by Closing or both D&C if no Deposit) -D Average price(sum of all)shall be discounted 15%of appraised value (Mininum of 5%) D Total acquisition price/ut shall not exceed$150,000 w/o express permission from BCC /D Appraisal completed w/in 60 days PRIOR to an offer to purchase. D Property has been evaluated by HHS staff Property must have been foreclosed upon,vacant at least 90 days(noted on appraisal), and on LD lender's list of current inventory. Written agrmt for Sale&Purchase(confirms to County poll ✓ cV) agmt only made with bank/lender D holding title to property D Approved by Director of HHS(or designee) -L=D/C Letter of Federal Funding issued to bank Agreements for sale and purchase approved by County Attorney's Office for form and legal -D sufficiency(all pages containing Chairman's signature) C Environmental Review conducted by HHS C Title has been examined by Real Property Mgmt C Closing Statement pochopin_p From: mott_t Sent: Thursday, August 20, 2009 11:58 AM To: Suzanne Boothby; pochopin_p Cc: DeSearJacquelyn; RamseyFrank; Crystal K. Kinzel; KrumbineMarcy; DanielsTerri; RussellHans; LeonardRoosevelt; BigelowGary Subject: RE: NSP Pay Req: Berman, Rennert, Vogel and Mandler- DEPOSIT-5271 24th Ave SW ($2,500) Importance: High From: Suzanne M. Boothby [mailto:Suzanne.Boothby @collierclerk.com] Sent: Wednesday, August 19, 2009 3:16 PM To: pochopin_p Cc: DeSearJacquelyn; mott_t; RamseyFrank; Crystal K. Kinzel; KrumbineMarcy; DanielsTerri; RussellHans Subject: NSP Pay Req: Berman, Rennert, Vogel and Mandler- DEPOSIT- 5271 24th Ave SW ($2,500) Hi Pat, The NSP Deposit Pay Request submitted for the property located at 5271 24th Ave SW is formally rejected by Finance as of August 19, 2009 based upon the following: 1) The appraisal notes that the property"has been vacant for 90 days as of 9/10/09". a. An email has been sent to Legal (Colleen Greene)for clarification on using a future date on the appraisal in relation the NSP Admin Plan and the URA. 2) NSP letter to the bank has the wrong property address—specifically the zip code. 3) Agreement states the deposit money is to be delivered within 7 business days. The 7-day time frame will be exceeded if payment is made on the 21St. The seller may choose to accept the$2,500 deposit anyway. The intent and language of the agreement should be clear. Agreements usually state that its effective upon execution by both parties. Similar language might help in clearing up any confusion as to the effective and executed dates. The agreement for this pay request states on page 18 that the "parties have executed the Agreement as of the date and year first above written." The first above written date was on page 1—August 10, 2009. So,even though the Board Chairman signed on 8/12/09,the agreement was effective, per the language, back to the 10th (page 18 of agreement) IN WI I'NESS WHEREOF, the parties hereto have executed this Agreement as of the c and year first above written. (page 1 of agreement) THIS PURCHASE AND SALE AGREEMENT ("Agreement") is made between BAC HOME LOANS SERVICING LP, F!K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership, whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as "T't astee for the Certificateholders Of CWABS 2005-06 ("Seller") and Collier County, a Political Subdivision of the State of Florida, whose address is 3301 Tatniami Trail Fast, Naples. Florida 34112 ("Purchaser'), (together, the "Parties" and individually, the "Party"; and is effective as of:August 10, 2009 (the"Effective llate"). If there are any questions or further clarification is needed, please let me know. Thanks, Suzanne Suzanne Boothby Grants Accountant Collier County Clerk of the Circuit Court Court Plaza Ill"'Finance Department 2671 Airport Road South Naples,FL 34112 239.732.2608(phone) 239.774.2096(fax) Suzanne.Boothbv @collierclerk.com Under Florida Law,e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request,do not send electronic mail to this entity. Instead,contact this office by telephone or in writing. 2 RussellHans From: Suzanne M. Boothby [Suzanne.Boothby @collierclerk.corn] Sent: Wednesday, August 19, 2009 3:16 PM To: pochopin_p Cc: DeSearJacquelyn; mott_t; RamseyFrank; Crystal K. Kinzel; KrumbineMarcy; DanielsTerri; RussellHans Subject: NSP Pay Req: Berman, Rennert, Vogel and Mandler- DEPOSIT- 5271 24th Ave SW ($2,500) Attachments: image002.jpg; image004.jpg Hi Pat, The NSP Deposit Pay Request submitted for the property located at 5271 24th Ave SW is formally rejected by Finance as of August 19, 2009 based upon the following: 1) The appraisal notes that the property"has been vacant for 90 days as of 9/10/09". a. An email has been sent to Legal (Colleen Greene)for clarification on using a future date on the appraisal in relation the NSP Admin Plan and the URA. 2) NSP letter to the bank has the wrong property address—specifically the zip code. 3) Agreement states the deposit money is to be delivered within 7 business days. The 7-day time frame will be exceeded if payment is made on the 215`. The seller may choose to accept the$2,500 deposit anyway. The intent and language of the agreement should be clear. Agreements usually state that its effective upon execution by both parties. Similar language might help in clearing up any confusion as to the effective and executed dates. The agreement for this pay request states on page 18 that the "parties have executed the Agreement as of the date and year first above written." The first above written date was on page 1—August 10, 2009. So, even though the Board Chairman signed on 8/12/09, the agreement was effective, per the language, back to the 10`h (page 18 of agreement) IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the t and year first above written. (page 1 of agreement) THIS PURCHASE AND SALE AGREEMENT ("Agreement") is made between BAC HOME LOANS SERVICING LP, F/K/A COUNTRYWIDE HOME LOANS SERVICING LP, a Texas Limited Partnership,whose address is 400 Countrywide Way, Simi Valley, California 93065 as servicing agent and attorney in fact for Bank of New York as Trustee for the Certificateholders of CWABS 2005-06 ("Seller") and Collier County, a Political Subdivision of the State of Florida, whose address is 3301 Tamiami Trail East, Naples, Florida 34112 ("Purchaser"), (together, the "Parties" and individually, the "Party") and is effective as of August 10, 2009 (the "Effective Date"). If there are any questions or further clarification is needed, please let me know. Thanks, 1 Suzanne Suzanne Boothby Grants Accountant Collier County Clerk of the Circuit Court Court Plaza III'"Finance Department 2671 Airport Road South Naples,FL 34112 239.732.2608(phone) 239.774.2096(fax) Suzanne.Boothby@collierclerk.com Under Florida Law, e-mail addresses are public records. If you do not want your e-mail address released in response to a public records request, do not send electronic mail to this entity. Instead, contact this office by telephone or in writing. 2