Loading...
As Is Contract for Sale and Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS. AND THE FLORIDA BAR "As Is" Contract For Sale And Purchase ,II I ' 1* PARTIES: l- S F ~ Me~ WI?. 'I REO J 1J tJ es TNt E 1J-r:;. I-.J-C.... ("Seller"), 2* and Collier County' ("Buyer"), 3 hereby agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property") 4 pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract"): 5 I. DESCRIPTION: 6* (a) Legal description of the Real Property located in COLLIER County, Florida: FL 7* GOLDEN GATE EST UNIT 76 N 75FT OF S 150FT OF TR 138 8* (b) Street address, city, zip, of the Property: 571 Everglades Blvd N Naples FL 9 (c) Personal Property includes existing range(s), refrigerator(s), dishwasher(s), ceiling fan(s), light fixture(s), and window treatment(s) unless 10 specifically excluded below. 11* Other items included are: 12* 13* Items of Personal Property (and leased items, if any) excluded are: 14* 15* II. PURCHASE PRICE (U.S. currency): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . , . . . . . $ 16 PAYMENT: 1 7* (a) Deposit held in escrow by ("Escrow Agent") in the amount of (checks subject to clearance) 18* Escrow Agent's address: Phone: 19* (b) Additional escrow deposit to be made to Escrow Agent within ~ days after Effective Date in the amount of. , , . . , , , , . 20* (c) Financing in the amount of ("Loan Amount") see Paragraph IV below . . . . , . . . . . . , , . , ' . . . . , , . , , . , . . , , , . . . , , , . . , . , 21* (d) Other, . . . , . . . . . . . . . . , . , , . . . . . , . , . . , , . , . , . . , . , . , , . . , . , . . , . . , . . . . . . , . , , . . , . . , . , . . . . . , . , . . . . . , . . , . . . 22 (e) Balance to close by cash, wire transfer or LOCALLY DRAWN cashier's or official bank check(s), subject 23* to adjustments or prorations, , . , . . . . , . . . . , . . . . , . , . . , . . . , , , , . . . . . , . . , . , . . , . . . , . . . . . . . . . . . , , . . , , , . ' . . . . . . , . , . . $ 24 III. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE: 25 (a) If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the parties on or 26* before 04/22/2009 , the deposit(s) will, at Buyer's option. be returned and this offer withdrawn. Unless other- 27 wise stated, the time for acceptance of any counteroffers shall be 2 days from the date the counteroffer is delivered. 28 (b) The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed or initialed this offer or the 29 final counteroffer. If such date is not otherwise set forth in this Contract, then the "Effective Date" shall be the date determined above for 30 acceptance of this offer or, if applicable, the final counteroffer. 31 IV. FINANCING: 32* .. (a) This is a cash transaction with no contingencies for financing; 33* 0 (b) This Contract is contingent on Buyer obtaining written loan commitment which confirms underwriting loan approval for a loan to purchase 34* the Property ("Loan Approval") within _ days (if blank, then 30 days) after Effective Date ("Loan Approval Date") for (CHECK ONLY 35* ONE): 0 a fixed; 0 an adjustable; or 0 a fixed or adjustable rate loan, in the Loan Amount (See Paragraph ".(c)) at an initial interest rate not to 36* exceed %, and for a term of _ years. Buyer will make application within _ days (if blank, then 5 days) after Effective Date. 37 BUYER: Buyer shall use reasonable diligence to: obtain Loan Approval; notify Seller in writing of receipt of Loan Approval by Loan Approval 38 Date; satisfy terms of the Loan Approval; and close the loan. Loan Approval which requires a condition related to the sale of other property shall 39 not be deemed Loan Approval for purposes of this subparagraph. Buyer shall pay all loan expenses. Buyer authorizes the mortgage broker(s) and 40 lender(s) to disclose information regarding the conditions, status, and progress of loan application and Loan Approval to Seller, Seller's attorney, 41 real estate Iicensee(s), and Closing Agent. 42 SELLER: If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may thereafter cancel this Contract by 43 delivering written notice ("Seller's Cancellation Notice'1 to Buyer, but not later than seven (7) days prior to Closing. Seller's Cancellation Notice shall 44 notify Buyer that Buyer has three (3) days to deliver to Seller written notice waiving this Financing contingency, or the Contract shall be cancelled. 45 DEPOSIT(S) (for purposes of this Financing Paragraph IV(b) only): If Buyer has used reasonable diligence but does not obtain Loan Approval 46 by Loan Approval Date, and thereafter either party elects to cancel this Contract, the deposit(s) shall be returned to Buyer, If Buyer obtains Loan 47 Approval or waives this Financing contingency, and thereafter the Contract does not close, then the deposit(s) shall be paid to Seller; provided how- 48 ever, if the failure to close is due to: (0 Seller's failure or refusal to close or Seller otherwise fails to meet the terms of the Contract, or (ii) Buyer's lender 49 fails to receive and approve an appraisal of the Property in an amount sufficient to meet the terms of the Loan Approval, then the deposit(s) shall be 50 returned to Buyer, 51* 0 (c) Assumption of existing mortgage (see rider for terms); or 52* 0 (d) Purchase money note and mortgage to Seller (see "As Is" Standards Band K and riders; addenda; or special clauses for terms). 53* V. TITLE EVIDENCE: At least _ days (if blank, then 5 days) before Closing a title insurance commitment with legible copies of instruments listed as 54 exceptions attached thereto ("Title Commitment") and, after Closing, an owner's policy of title insurance (see Standard A for terms) shall be obtained by: 55* (CHECK ONLY ONE): 0 (1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney; or 56* I.J (2) Buyer at Buyer's expense. 57* (CHECK HERE): :.J If an abstract of title is to be furnished instead of title insurance, and attach rider for terms. 58* VI. CLOSING DATE: This transaction shail be closed and the closing documents delivered on OS/28/2009 ("Closing'1, unless 59 modified by other provisions of this Contract. In the event of extreme weather or other conditions or events constituting "force majeure", Closing will be 60 extended a reasonable time until: (i) restoration of utilities and other services essential to Closing, and 0Q availability of Hazard, Wind, Rood, or Homeowners' 61* insurance. If such conditions continue more than _ days (if blank, then 14 days) beyond Closing Date, then either party may cancel this Contract. 48,500.00 $ .00 $ $ $ 1,000.00 .00 .00 47,500.00 FAR/BAR ASIS-2x Rev. 2/08 @ 2008 Florida Association of RtAUORsoo and The Florida Bar All Rights Reserved Page 1 of 5 ~ This software is licensed to [Traian petrila - Prosults Realty] www.transactiondesk.com. I~~ 62 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to: comprehensive land use plans, zoning. 63 restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat or otherwise 64 common to the subdivision; outstanding oil, gas and mineral rights of record without right of entry; unplatted public utility easements of record 65 (located contiguous to real property lines and not more than 10 feet in width as to the rear or front lines and 7 1/2 feet in width as to the side 66 lines); taxes for year of Closing and subsequent years; and assumed mortgages and purchase money mortgages, if any (if additional items, see 67" addendum): provided, that thore Olllete at C166iR~ R6 .ielatielR elf tlge fore@eiR~ aRei none prevent use of the Property for 68" purpose(s). 69 VIII. OCCUPANCY: Seller shall deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein. If Property is intended 70 to be rented or occupied beyond Closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to "AS IS" Standard 71 F. If occupancy is to be delivered befofe Closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable 72 for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy. 73 IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed pro- 74 visions of this Contract in conflict with them. 75* X. ASSIGNABILITY: (CHECK ONLY ONE): Buyer U may assign and thereby be released from any further liability under this Contract; 0 may 76* assign but not be feleased from liability under this Contract; or" may not assign this Contract. 77 XI. DISCLOSURES: 78 (a) The Property may be subject to unpaid special assessment lien(s) imposed by a public bOdy ("public body" does not include a 79 Condominium or Homeowners' Association). Such lien(s). if any, whether certified, confirrned and ratified, pending, or payable in installments, 80" as of Closing, shall be paid as follows: 0 by Seller at closing 0 by Buyer (if left blank, then Seller at Closing). If the amount of any 81 assessment to be paid by Seller has not been finally determined as of Closing, Seller shall be charged at Closing an amount equal to the 82 last estimate or assessment for the improvement by the public body. 83 (b) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to per- 84 sons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. 85 Additional information regarding radon or radon testing may be obtained from your County Public Health unit. 86 (c) Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or desires additional information 87 regarding mold, Buyer should contact an appropriate professional. 88 (d) Buyer acknowledges receipt of the Florida Energy-Efficiency Rating Information Brochure required by Section 553.996, F.S. 89 (e) If the Real Property includes pre-1978 residential housing, then a lead-based paint rider is mandatory. 90 (n If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with that Act. 91 (g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIA- 92 TION/COMMUNITY DISCLOSURE. 93 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON !HE SELLER'S CURRENr PROPERTY TAXES AS !HE AMOUNr 94 OF PROPERTY TAXES THAT !HE BUYER MAY BE OBLIGATED TO PAY IN !HE YEAR SUBSEQUENr TO PURCHASE. A CHANGE OF OWNER- 95 SHIP OR PROPERTY IMPROVEMENrS TRIGGERS REASSESSMENrS OF !HE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. 96 IF YOU HAVE ANY QUESTIONS CONCERNING VALUATlON, CONrACT !HE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATlON. 97 XII. MAXIMUM REPAIR COSTS: DELETED 98* XIII. HOME WARRANTY: 0 Seller 0 Buyer" N/A will pay for a home warranty plan issued by 99" at a cost not to exceed $ 100" XIV. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have ~ days from Effective Date ("Inspection Period") within 1 01 which to have such inspections of the Property performed as Buyer shall desire and utilities service shall be made available by the 102 Seller during the Inspection Period; (b) Buyer shall be responsible for prompt payment for such inspections and repair of damage 103 to and restoration of the Property resulting from such inspections and this provision (b) shall survive termination of this Contract; 104 and (c) if Buyer determines, in Buyer's sole discretion, that the Property is not acceptable to Buyer; Buyer may cancel this Contract 105 by delivering facsimile or written notice of such election to Seller prior to the expiration of the Inspection Period. If Buyer timely 1 06 cancels this Contract, the deposit(s) paid shall be immediately returned to Buyer; thereupon, Buyer and Seller shall be released of 107 all further obligations under this Contract, except as provided in this Paragraph XlV. Unless Buyer exercises the right to cancel 1 08 granted herein, Buyer accepts the Property in its present physical condition, subject to any violation of governmental, building, 109 environmental, and safety codes, restrictions or requirements and shall be responsible for any and all repairs and improvements 11 0 required by Buyer's lender. 111 XV. RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to and made part of this Contract: 112" 0 CONDOMINIUM 0 VA/FHA 0 HOMEOWNERS' ASSN. 0 LEAD-BASED PAINT 0 COASTAL CONSTRUCTION CONTROL LINE 113" 0 INSULATION 0 EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions 0 Addenda 114" Special Clause(s): 115" 116* 117" 118" 119" 120* 121" 122" 123" 124" 125" 126 XVI. "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS IS" Standards): Buyer and Seller acknowledge receipt of a copy 127 of "AS IS" Standards A through Z on the reverse side or attached, which are incorporated as part of this Contract. FAR/BAR ASIS-2x Rev. 2/08 @ 2008 Florida Association of REALlORS~ and The Florida Bar All Rights Reserved Page 2 of 5 This software is licensed to [Traian Petrila - prosults Realty] www.transactiondesk.com. ..,.,. 128 129 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. 130 THIS "AS IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS" AND THE FLORIDA BAR. 131 Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a 132 particular transaction. Terms and conditions should be negotiated based upon the respective interests, objectives and bargaining 133 positions of all interested persons. 134 AN ASTERISK(*) FOLLOWING A LINE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK TO BE COMPLETED. 7f Gee $IGpJA--ToP-"/ PME;"- 135" ~"" ?1 *1+ e-z> ~ "'0 136 (BUYER) (DATE) (SELLER) (DATE) 137* 138 (BUYER) 139" Buyers' address for purposes of notice 140" (DATE) (SELLER) Sellers' address for purposes of notice (DATE) 141" Phone Phone 142 BROKERS: The brokers (including cooperating brokers, if any) named below are the only brokers entitled to compensation in connection with 143 this Contract: 144* Name: 145 prosults Realty Cooperating Brokers, if any Prosults Realty Listing Broker FAR/BAR ASIS-2x Rev, 2/08 @ 2008 Florida Association of REALTOHS~ and The Florida Bar All Rights Reserved Page 3 of 5 ~ This software is licensed to [Traian Petrila - Prosults Realty] www.transactiondesk.com. -..RIII~ IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of ,2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED:~ A TTEST, I:)' " ":'/' DWIG~t E'j3R'OCK, Clerk .e." :;, . ~ . . '. ''''! BOARD OF COUNTY COMMISSIONERS COLLIER UNTY, FLORI A Attfst, I' .... , 1 on~tU~"'R,~ i~~.y ,.,' .. -. . ~ AS TO OWNER: DATED: BY: Witness (Signature) Name: (Print or Type) Printed Name Witness (Signature) Title Name: (Print or Type) Approved as to form and legal sufficiency: h-~7.U~ 5te..vtvt T w: /f:a.,.,.., Assistant County Attorney 146 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS 147 A. TITLE INSURANCE: The Title Commitment shall be issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer, 148 an owner's policy of title insurance in the amount of the purChase price, insuring Buyer's marketable title to the Real Property, subject only to matters contained 149 in Paragraph VII and those to be discharged by Seller at or before Closing. Marketable title shall be determined according to applicable Title Standards adopt- 150 ed by authority of The Florida Bar and in accordance with law, Buyer shall have 5 days from date of receiving the Title Commitment to examine it, and if title is 151 found defective. notify Seller in writing specifying defect(s) which render title unmarketable. Seller shall have 30 days from receipt of notice to remove the 152 defects, failing which Buyer shall, within 5 days after expiration of the 30 day period. deliver written notice to Seller either: (1) extending the time for a reason- 153 able period not to exceed 120 days within which Seller shall use diligent effort to remove the defects: or (2) requesting a refund of deposit(s) paid which shall 154 be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then IS. Seller shall, if title is found unmarketable, 155 use diligent effort to correct defect(s) within the time provided. If, after diligent effort, Seller is unable to timely correct the defects, Buyer shall either waive the 156 defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under this Contract. If Seller is to provide the Title 157 Commitment and it is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer shall have up to 5 days from date of receipt 158 to examine same in accordance with this "AS IS" Standard, 159 B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purChase money mortgage and mortgage note to Seller shall provide for a 160 30 day grace period in the event of default if a first mortgage and a 15 day grace period If a second or lesser mortgage; shall provide for right of prepayment 161 in whoie or in part without penalty; shall permit acceleration in event of transfer of the Real Property; shall require all prior liens and encumbrances to be kept 162 in good standing: shall forbid modifications of, or future advances under, prior mortgage(s); shall require Buyer to maintain policies of insurance containing a 163 standard mortgagee clause covering all improvements located on the Real Property against fire and all perils included within the term "extended coverage 164 endorsements" and such other risks and perils as Seller may reasonably require, in an amount equal to their highest insurable value; and the mortgage, note 165 and security agreement shall be otherwise in form and content required by Seller, but Seller may only require clauses and coverage customarily found in mort- 1 66 gages, mortgage notes and security agreements generally utilized by savings and loan institutions or state or national banks located in the county wherein the 167 Real Property is located. All Personal Property and leases being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evi- 168 denced by recorded or filed financing statements or certificates of title. If a balloon mortgage, the final payment will exceed the periodiC payments thereon. 169 C. SURVEY: Buyer, at Buyer's .expense, within time allowed to deliver evidence of title and to examine same, may have the Real Property surveyed and certi- 170 fied by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback 171 lines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a title defect. 172 D. WOOD DESTROYING ORGANISMS: DELETED 173 E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as described 174 in Paragraph VII hereof and title to the Real Property is insurable in accordance with "AS IS" Standard A without exception for lack of legal right of access, 175 F. LEASES: Seller shall at least to days before Closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature 176 and duration of the tenant's occupancy, rental rates, advanced rent and security deposits paid by tenant. If Seller is unable to obtain such letter from each ten- 177 ant. the same information shall be furnished by Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact ten- 178 ant to confirm such information, If the terms of the leases differ materially from Seller's representations, Buyer may terminate this Contract by delivering written 179 notice to Seller at least 5 days prior to Closing. Seller shall, at Closing, deliver and assign all original leases to Buyer, 180 G. LIENS: Seller shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statement, 181 claims of lien or potentiallienors known to Seller and further attesting that there have been no improvements or repairs to the Real Property for 90 days imme- 182 diately preceding date of Closing. If the Real Property has been improved or repaired within that time, Seller shall deliver releases or waivers of construction 183 liens executed by all general contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth the names of all such gen- 184 eral contractors, subcontractors, suppliers and materialmen, further affirming that all charges for improvementf. or repairs which could serve as a basis for a 185 construction lien or a claim for damages have been paid or will be paid at the Closing of this Contract. 186 H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real Property is located at the office of the attorney or other closing agent ("Closing 187 Agent") desi9nated by the party paying for title insurance, or, if no title insurance, designated by Seller. 188 I. TIME: Calendar days shall be used in computing time periods except periods of less than six (6) days, in which event Saturdays, Sundays and state or nation- 189 allegal holidays shall be excluded. Any time periods provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. of the 190 next business day. Time is of the essence in this Contract. 191 J. CLOSING DOCUMENTS: Seller shall furnish the deed, bill of sale, certificate of title, construction lien affidavit, owner's possession affidavit, assignments of leas- 192 es, tenant and mortgagee estoppel letters and corrective instruments. Buyer shall furnish mortgage, mortgage note, security agreement and financing statements. 193 K. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by Seller. All costs of Buyer's loan (whether obtained 194 from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purChase money mortgage and any mortgage assumed, 195 mortgagee title insurance commitment with related fees, and recording of purChase money mortgage, deed and financing statements shall be paid by Buyer. 196 Unless otherwise provided by law or rider to this Contract, charges for related closing services, title search, and closing fees (including preparation of closing 197 statement), shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph V. 198 L. PRORATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day before Closing. 199 Buyer shall have the option of taking over existing pOliCies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be 200 increased or decreased as may be required by prorations to be made through day prior to Closing, or occupancy, if occupancy occurs before Closing. Advance 201 rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current 202 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing occurs at a date when the current year's mill- 203 age is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assess- 204 ment is not available, then taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1 st of year of Closing, 205 which improvements were not in existence on January 1 st of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assess- 206 ment to be agreed upon between the parties; failing which. request shall be made to the County Property Appraiser for an informal assessment taking into 207 account available exemptions. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of current year's tax bill. 208 M. (RESERVED - purposely left blank) 209 N. INSPECTION AND REPAIR: DELETED 210 O. RISK OF LOSS: If, after the Effective Date, the Property is damaged by fire or other casualty ("Casualty Loss") before Closing and cost of restoration (which 211 shall include the cost of pruning or removing damaged trees) does not exceed 1.5% of the Purchase Price, cost of restoration shall be an obligation of Seller and 212 Closing shall proceed pursuant to the terms of this Contract, and if restoration is not completed as of Closing, restoration costs will be escrowed at Closing. If 213 the cost of restoration exceeds 1.5% of the Purchase Price, Buyer shall either take the Property as is, together with the 1.5% or receive a refund of deposit(s) 214 thereby releasing Buyer and Seller from all further obligations under thiS Contract. Seller's sole obligation with respect to tree damage by casualty or other natu- 215 ral occurrence shall be the cost of pruning or removal. 216 p. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If the title agent insures adverse matters pursuant to Section 627.7841. 217 F,S" as amended, the escrow and closing procedure required by this "AS IS" Standard shall be waived. Unless waived as set forth above the following FAR/BAR ASIS-2x Rev, 2/08 @ 2008 Florida Association of REAuoRs" and The Florida Bar All Rights Reserved Page 4 of 5 ~ This software is licensed to [Traian Petrila - prosults Realty] www.transactiondesk.com. ........~ 218 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED) 219 closing procedures shall apply: (1) all closing proceeds shall be held in escrow by the Closing Agent for a period of not more than 5 days after Closing; (2) 220 if Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect and Seller shall 221 have 30 days from date of receipt of such notification to cure the defect; (3) if Seller fails to timely cure the defect, all deposits and closing funds shall, upon 222 written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall return the Personal 223 Property, vacate the Real Property and reconvey the Property to Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand 224 for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of war- 225 ranties contained in the deed or bill of sale. 226 a. ESCROW: Any Closing Agent or escrow agent (collectively "Agent") receiving funds or eqUivalent is authorized and agrees by acceptance of them to deposit 227 them promptly, hold same in escrow and, subject to clearance, disburse them in accordance with terms and conditions of this Contract. Failure of funds to 228 clear shall not excuse Buyer's performance. If in doubt as to Agent's duties or liabilities under the provisions of this Contract. Agent may, at Agent's option, con- 229 tinue to hold the subject matter of the escrow until the parties hereto agree to ItS disbursement or until a judgment of a court of competent jUrisdiction shall 230 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having JUrisdiction of the dispute, An attorney who represents 231 a party and also acts as Agent may represent such party in such action, Upon notifying all parties concerned of such action, all liability on the part of Agent 232 shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate broker, Agent will comply with 233 provisions of Chapter 475, F.S" as amended. Any suit between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, or in 234 any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's fees and costs incurred with these amounts to 235 be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shall not be liable 236 to any party or person for misdelivery to Buyer or Seller of items subject to the escrow, unless such miSdelivery is due to willful breach of the provisions of this 237 Contract or gross negligence of Agent. 238 R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, ariSing out of this Contract, the prevailing party in such Iiti- 239 gation, which, for purposes of this "AS IS" Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authorized by 240 Chapter 475, F.S.. as amended. shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs and expenses, 241 S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by 242 Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated damages, consideration for 243 the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this Contract: or Seller, 244 at Seller's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title mar- 245 ketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specific performance or elect to receive the return of Buyer's 246 deposit(s) without thereby waiving any action for damages resulting from Seller's breach. 247 T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any notice of it shall be recorded in any publiC records. 248 This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and 249 one gender shall include all. Notice and delivery given by or to the attorney or broker representing any party shall be as effective as if given by or to that party. 250 All notices must be in writing and may be made by mail, personal delivery or electronic media. A legible facsimile or electronic (including .pdf') copy of this 251 Contract and any signatures hereon shall be considered for all purposes as an original. 252 U. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's, personal representative's, or guardian's deed, as 253 appropriate to the status of Seller, subject only to matters contained in Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, at the 254 request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein. 255 V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No mod- 256 ification to or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the parties intended to be bound by it. 257 W. SELLER DISCLOSURE: (1) There are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or 258 which have not been disclosed to Buyer; (2) Seller extends and intends no warranty and makes no representation of any type, either express or implied, 259 as to the physical condition or history of the Property; (3) Seller has received no written or verbal notice from any governmental entity or agency as 260 to a currently uncorrected building, environmental or safety code violation; (4) Seller has no knowledge of any repairs or improvements made to the 261 Property without compliance with governmental regulation which have not been disclosed to Buyer. 262 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seller shall maintain the Property, including, 263 but not limited to lawn, shrubbery, and pool in the condition existing as of Effective Date, ordinary wear and tear and Casualty Loss excepted. Seller shall, upon 264 reasonable notice, provide utilities service and access to the Property for appraisal and inspections, including a walk-through prior to Closing, to confirm that 265 all items of Personal Property are on the Real Property and that the Property has been maintained as required by this "AS IS" Standard. Seller will assign all 266 assignable repair and treatment contracts and warranties to Buyer at Closing. 267 Y. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like-kind exchange (either simultaneous with Closing or deferred) with respect to the Property 268 under Section 1031 of the Internal Revenue Code ("Exchange"), the other party shall cooperate in all reasonable respects to effectuate the Exchange, includ- 269 ing the execution of documents; provided (1) the cooperating party shall incur no liability or expense related to the Exchange and (2) the Closing shall not be 270 contingent upon, nor extended or delayed by, such Exchange. 271 Z. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by law, against any real estate licensee involved 272 in the negotiation of the Contract, for any defects or other damage that may exist at Closing of the Contract and be subsequently discovered by the 273 Buyer or anyone claiming by, through, under or against the Buyer. FAR/BAR ASIS-2x Rev. 2/08 @ 2008 Florida ASSOCiation of REcALlOHS" and The Fiorida Bar All Rights Reserved Page 5 of 5 ~ This software is licensed to [Traian petrila - prosults Realty] www.transactiondesk.com. ~~ CONTRACT FOR SALE AND PURCHASE OF REAL PROPERTY Seller: Vericrest Financial, lnc Buyer: Collier County SS#:___ FedID#_ Address: City/State/Zip: Tel:(_) Agree that Seller shall sell and Buyer shall buy upon the following terms, conditions and Standards, the following real property, (hereinafter referred to as the "PROPERTY",) and improvements thereon located at: 571 Everglades Blvd N in Collier County, in "AS-IS"CONDITION. A. Said PROPERTY, tax folio number 40630240009 I is legally described as: T*E ",ol2r... -y~ FeET f:Jr mE $o,nu I~() F~~r tJr T~I9~T 138j dr 6<<..FiJ GAT~ E:t;rll-rEs, ,hJI1' ~". thl Ac (;440",)6 1"0 "THe fLIIT TH~tet>>( Rt ~e~U)t;D I~ !tAT Together with the following personal property, (including only those appliances listed,) which are OODK. E. I'7T hereinafter sometimes collectively referred to as the "PROPERTY", and which are also in "AS-IS" PR&-e ,~ ~Jl!; rile CONDITION: J'"',,c l2,.coA./), ~p CiJ~/67C- d. fJllfA)'t'..,;, F C-~II!. t j) 4 . B. PURCHASE PRICE (In U.S. funds): $48.500.00 2. Additional deposit on or before $1.000.00 $0.00 1. Deposit 3. Approximate principle amount of mortgage to be obtained TYPE OF FINANCING: DConventional 0 FHNVA DOwner [g] Cash D Other $0.00 4. Approximate balance to close to be paid by local Cashier's check $48.500.00 C. FINANCING: If the purchase price or any part thereof is to be newly financed, this Contract is contingent upon Buyer obtaining and providing Seller with written evidence of a firm commitment for that loan within 0 banking days (20 banking days from date of this Contract if not filled in), at terms prevailing at local lending institutions for thirty (30)year mortgages in the amount set forth in B.3, hereinabove. Buyer agrees to apply for and to make a good faith, diligent effort to obtain the loan. If Buyer proceeds in good faith but fails to obtain the commitment or to waive this condition in said time period, Seller shall have the option to extend the, closing date or to cancel this Contract. If Buyer fails to qualify, Seller, at its option, may seek to arrange alternative financing for the Buyer at similar rates and terms as originally applied for by Buyer. Buyer shall be obligated to accept any such financing obtained by or through Seller. Buyer shall cooperate with Seller in the application process for the alternative financing, and the failure to fully cooperate or the refusal to accept said financing if approval is obtained shall be a default under the terms of the Contract. Any lender's charges incurred in subsequent applications pursued at Seller's initiative pursuant to the provisions of the paragraph shall be Seller's responsibility. If financing is obtained, then Buyer shall be responsible for all expenses associated therewith except any which the Seller had expressly agreed to pay had the Buyer's initial application been successful. For the purposes of this Contract, a "firm commitment" shall be one which does not require further documentation to support either the Buyer's credit worthiness or Buyer's financing condition. D. TIME FOR ACCEPTANCE: If this Contract is not executed by Seller/Buyer on or before 04 / 22 / 2009, the deposit shall, at the option of the Buyer, be returned to him and this Contract shall be null and void. Page 1 of 6 E. CLOSING DATE: This Contract shall be closed and closing documents and possession shall be delivered on or before05/ 28 /2009 ,unless modified by other provisions of this Contract or separate written agreement. In the event this transaction fails to close on or before the date specified at no fault of the Seller, and should Seller, at its option, elect to extend the closing date, then Buyer agrees to reimburse Seller its per diem carrying costs of the property which shall be calculated based upon 100.00 Dollars per day. Alternatively, Seller may declare the Contract null and void. F. EARNEST MONEY SHALL BE HELD BY SELLER'S AGENT OR ATTORNEY: 'shall serve as escrow agent. All deposits shall be placed in escrow. Escrow Agent agrees to deposit funds promptly and to hold and to disburse the same, subject to clearance, in accordance with the Contract. Failure of clearance of funds shall not excuse performance by Buyer. If a dispute shall arise between any of the parties to the Contract as to the proper disbursement of the funds, the escrow agent may at its option: (1) continue to hold the funds and documents, if any, until agreement is reached between the disputing parties, until a judgment has been entered by court of competent jurisdiction and the appeal period has expired, or if appealed, until the matter has been finally concluded, thereafter act in accordance with such final judgment; or (2) file suit to obtain declaratory relief of the court directing the disbursement of deposit(s) and the disposition of documents in its possession. In any suit in which the escrow agent is a party arising out of the Contract, it shall be entitled to recover reasonable attorney's fees and costs incurred, out of the escrow fund, regardless of any party's interest therein. The prevailing party shall be entitled to a judgment for any deficiency occasioned by payment of the fees and costs. G. TITLE INSURANCE: Seller shall determine Title Company or Closing Attorney. Buyer shall pay for a title commitment insuring title to the property being conveyed in accordance with current title standards, subject only to liens, encumbrances, exemptions or qualifications, provided they do not impair the marketability of title, special or unusual encumbrances of any kind which might be identified in the Contract, and those additional matters which shall be discharged by Seller. If prior to closing Seller discovers that title is unmarketable, at its option Seller may cancel the Contract or Seller shall have ninety (90) days to cure the defects. If after said period Seller shall not have cured the defects, Buyer shall have the option of either: (1 )-accepting title as it is and closing or (2)-demanding a refund of all deposits made hereunder. If Buyer elects to have a refund of deposits, then they shall be returned to Buyer, forthwith, and Buyer and Seller shall be released from any further obligations under the Contract. Seller shall have no obligation to provide an abstract or other evidence of title except as set forth herein. H. CONVEYANCE AND TRANSFER: Seller may convey real property to Buyer by Special Warranty Deed subject to (1) taxes for the year closing and subsequent years;(2)zoning and/or restrictions and prohibitions imposed by governmental authority;(3) restrictions and other matters appearing on the plat and/or common to the subdivision;(4) utility easements of record, provided said easements do not unreasonably interfere with the intended use of the property; and(5) other matters specified in the Contract, if any. The deed shall be executed by or on behalf of the titleholder of record. PERSONALTY shall be transferred by Bill of Sale. I. NEW FINANCING: If Buyer is to obtain new financing, then, except as qualified by paragraph L, all costs and charges incidental thereto shall be paid by Buyer. If the Contract provides for Buyer to obtain a new mortgage, then Buyer's performance shall be conditioned upon obtaining mortgage financing upon terms stated, or if none are stated, then upon the terms generally prevailing in the county where the property is located. Buyer agrees to pursue the mortgage financing diligently and in good faith, and a failure to do so shall be deemed a default by Buyer. Page 2 of 6 J. INSPECTIONS: Buyer is purchasing the PROPERTY and PERSONALTY "AS-IS" and the purchase price reflects their condition. In addition, Buyer acknowledges that Seller has made no warranties or representations, either expressed or implied, as to the condition of the PROPERTY or PERSONALTY unless otherwise contained in this Contract. Buyer acknowledges and expects that the PROPERTY or PERSONALTY may be in need of some repairs, replacement or treatment. Notwithstanding, Buyer shall, at his expense, have the right to have the property inspected provided said inspections shall be completed and unacceptable conditions shall be delivered to Seller within seven (7) days of acceptance of this offer to purchase. Should any inspection obtained by or on the behalf of the Buyer reveal any defects not previously disclosed to Buyer for which the aggregate repair, replacement or treatment costs are $250.00 or less, they shall be considered minor and Buyer agrees to pay for same. Should any inspections obtained by or on behalf of the Buyer reveal any defects to the PROPERTY or PERSONALTY not previously disclosed to Buyer, the aggregate repair, replacement or treatment costs of which are in excess of $250.00, then either party may agree to pay for said repairs, replacement or treatment to the extent that they exceed the aforesaid $250.00; however, should neither party agree to pay the amount in excess of $250.00, then this Contract shall be null and void and all deposits made shall be returned. No additional inspections shall be ordered without approval of Seller. Failure by Buyer to obtain inspections and to provide Seller with the unacceptable conditions thereof within the aforesaid time frame shall be deemed a waiver thereof. Any repairs required by lending institutions shall be the responsibility of the Buyer unless in compliance with the terms and conditions of this paragraph. In order for Buyer to determine that the PROPERTY or PERSONALTY are in the same physical condition, ordinary wear and tear expected, as at the signing of this Contract, Buyer shall have the right to make a final "walk-thru" no later than five (5) days before closing. This "walk-thru" inspection shall be only for the purposes of determining that no damages have occurred since the expiration of the seven (7) day inspection period described hereinabove and shall neither be used for investigating matter which could otherwise have been determined within that seven (7) day inspection period first described hereinabove nor serve to expand that inspection time period. The closing and acceptance of closing documents shall constitute an acknowledgment that the PROPERTY or PERSONALTY are acceptable and thereafter no further liability shall extend to the Seller. This provision shall survive closing. K. MECHANIC'S LIENS: At closing, Seller shall furnish to Buyer an affidavit attesting to the absence of any claims of lien or potentiallienors to Seller. L. CLOSING: 1. PLACE: Closing shall be held at the office of Seller's closing agent. 2. DOCUMENTS: Sellers shall furnish a deed, mechanic's lien affidavit, bill of sale, and any correction instruments that may be required in clearing title. Each party may prepare and furnish its own closing statement. 3. MULTIPLE LISTING CONTRACT: Where in conflict, provisions of this Contract shall prevail over the provisions of any Multiple Listing Contract otherwise in effect. Seller disclaims any/all representations in or imputed from information contained in any Multiple Listing Contract as to the PROPERTY or PERSONALTY included in this sale, their condition, dimensions, etc. 4. The cost of State & Local Transfer Taxes & Stamps shall be paid for by the Seller unless otherwise stated. 5. PRORATIONS: Tax prorations shall be based on the last available known tax bill or upon the tax assessor's latest valuation and the current tax rate. In either case due allowance shall be made for the maximum allowable discount and all exemptions available for the tax year being pro-rated. There shall be no re-proration or readjustment of taxes or assessments after the date of closing. Rents, interest, appliance service contracts, and other expenses and revenue of the property shall, at Seller's option, be pro-rated. All prorations shall be calculated as of the earlier of midnight on the day prior to (a) closing or (b) occupancy being given to Buyer. Page 3 of 6 6. CLOSING COSTS AND REAL PROPERTY SALES DISCLOSURE TO THE BUYER: At closing Seller shall pay for the cost of recording any corrective instruments. Unless otherwise agreed to in writing by and between the parties hereto, or unless otherwise required by law, Seller shall be responsible for NO other closing costs. All other expenses associated with closing shall be borne by the Buyer. Upon the closing of the sale of real property, additional costs may be demanded from the Buyer in the form of closing costs including, but not limited to: attorney's fees; title insurance fees; assumption fee on existing mortgage; mortgage transfer or service fee; tax service, courier, appraisal and credit report fees; survey; roof, termite and/or other inspections; homeowners and flood insurance policies; service fee (or origination fee) on any new mortgage; intangible taxes on new mortgage; documentary stamps on new note; recording fee on mortgage; lending institution's attorney fees and loan charges; mortgage insurance premiums; set-up of Buyers account fee; recertification of abstract fees; document preparation fees. M. OCCUPANCY AND POSSESSION: Unless rented or otherwise agreed and provided Seller is funded at closing, Seller agrees to deliver possession at closing. If the property is rented property, Seller shall provide information as to existing tenants. N. lEASE AND TENANCIES: Seller shall disclose to Buyer all occupancies or rights to occupancy at the time of execution of Contract. Within fifteen (15) days after execution of Contract, Seller shall furnish to Buyer copies of all written leases and a statement from each tenant verifying the accuracy of representations previously made by or on behalf of Seller relative thereto. If Seller is unable to obtain the foregoing statements from tenants, the same information may be provided in a Seller's Affidavit. If there is a material discrepancy between statements made by Seller and verification received by Buyer, at Buyer's option the Contract may be canceled and all deposits shall be returned to Buyer. No new occupancies shall be created without the expressed written consent of Buyer, which consent shall not be unreasonably withheld. Seller shall deliver and assign all existing leases, unmodified, to Buyer at closing. O. BROKER'S FEE: Seller hereby recognizes Prosults Realty as Broker(s) in this transaction, and agrees to pay a total commission of $2,190.00 if this transaction closes. If more than one Broker is involved, the commission shall be split: / Sales agent(s) hereby give(s) notice to the Buyer that he/she/they serve as an agent for the Seller/Buyer/Disclosed Dual Agent/Transaction Broker. P. DEFAULT: If the Buyer fails to perform pursuant to this Contract, the deposit(s) made or agreed to be made by Buyer shall be retained or recovered by or for the account of Seller as liquidated damages, considered for the execution of the Contract. If for any reason other than (1) failure of Seller to make title marketable after diligent effort or (2)for other good cause Seller fails to perform pursuant to this Contract, all deposit(s) made by Buyer shall be returned upon demand and this contract shall be considered null & void. a. FHA/VA: If this transaction is contingent upon Buyer obtaining FHA or VA financing, attached FHA/VA ADDENDUM hereto and incorporated herein by reference. Should any FHA/VA commitment be conditioned upon repairs, the Seller reserves the right to cancel this Contract and to return the Buyer's earnest money deposit without further obligation from Seller. R. MISCELLANEOUS: 1. SURVEY: Buyer may have the property surveyed at his expense. Buyer shall make no objection to minimal encroachments or setback violations. 2. SPECIAL ASSESSMENT LIENS: Special assessments liens, certified as of the date of closing, are to be paid by Seller. Pending liens as of the date of closing shall be assumed by Buyer. Where the improvement has been substantially completed as of the date of Contract, such pending liens shall be considered as certified, and Seller shall, at closing, be charged an amount equal to the last estimate by the public body of the assessment for the improvement. If, however, any such lien is being amortized in a payment schedule to a governmental agency, taxing authority, etc., or if cannot be pre-paid, then there shall be no further adjustments due from Seller other than proration for the year of closing. Page 4 of 6 3. RISK OF lOSS: If the PROPERTY and PERSONALTY is damaged by fire or other casualty prior to closing, and the cost of restoring the same does not exceed five percent (5%) of the sale price, the cost of restoration shall be an obligation of Seller and closing shall proceed pursuant to the terms of the Contract with the cost thereof being escrowed at closing. If the cost of repair or restoration exceeds five percent (5%) of the sales price, Buyer shall have the option of:(a)taking the property "as-is", together with any insurance proceeds by virtue of said loss or damage, or (b) canceling the Contract and having all deposits returned to Buyer, forthwith, with the parties released of any further liability hereunder. 4. INGRESS AND EGRESS: Seller warrants that as of closing there are ingress and egress to the PROPERTY over public or private roads or easements sufficient for the intended use thereof. 5. MAINTENANCE: Unless otherwise agreed, seller shall maintain PROPERTY through the proration date. 6. ATTORNEY"S FEES, COSTS, AND VENUE: In any litigation (including appeals) arising out of the Contract involving Seller or Buyer or Broker or Escrow Agent, the prevailing party shall be entitled to recover all costs incurred, including reasonable attorney's fees. 7. PERSONS BOUND: This Contract shall bind and inure to the benefit of the parties hereto, their heirs, successors and assigns (where assignment is permitted). Whenever the context permits, singular shall include plural and gender shall include all. 8. ADDENDA AND EXHIBITS: The term "Contract" shall include all Addenda and Exhibits hereto. 9. NOTICE AND TIME: Notice given by or to counsel shall be as effective as if given by or to his client. Unless specifically referred to in "banking days", time limitations set forth herein shall be interpreted as "calendar days." Any reference to time periods of less than six (6) days shall in the computation thereof exclude Saturdays, Sundays and legal holidays, and any time period which shall end on a Saturday, Sunday or legal holiday shall extend to 5:00 o'clock P.M. on the next full business day. TIME SHALL BE OF THE ESSENCE WITH REGARD TO ALL DATES AND TIMES SET FORTH WITHIN THE TERMS AND CONDITIONS OF THIS CONTRACT AS WELL AS IN ANY ADDENDUM HERETO. 10. RADON GAS: Radon Gas is a naturally occurring radioactive gas that when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Additional information regarding Radon and Radon testing may be obtained from your County Public Health Unit. 11. APPRAISAL: This Contract is not contingent upon appraised value of PROPERTY equivalent to sales price. 12. CONTRACT NEITHER RECORDABLE NOR ASSIGNABLE: Neither this Contract nor any notice hereof, shall be recorded in the public records. This Contract shall not be assignable by buyer except to join Buyer's spouse. 13. FINAL AGREEMENT: No modification or change in the Contract shall be binding unless in writing and executed by the parties. Wherein conflict, typewritten provisions shall supersede printed provisions and hand written provisions shall supersede typewritten and/or pre-printed provisions. 14. ACCEPTANCE: This Contract and Buyer's execution hereof, is expressly subject to written approval of Seller. Seller's signature herein shall be evidence of such approval. In the absence of Seller's execution of this Contract and its delivery to buyer, Seller shall not be bound by the terms and conditions of this Contract for any purpose whatsoever. Page 5 of 6 S. SPECIAL CLAUSES: Upon verbal acceptance of an offer, Seller's Management Company must receive a signed copy of this contract from the buyer within two (2) business days. Executed by Seller(s) ,20 Executed by Buyer(s) ,20_ #' .1E--Fl:- 61 ~N -A.Tb.e. ~ P ,If-bf; Buyer__,~frTfH.Jfe') tIc-~€76 Seller: by: Collier County (Print name) Buyer DEPOSIT received on ,20 to be held subject to this Contract. ESCROW AGENT: by: (Print name) Page 6 of 6 IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of ,2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED:~ A TTEST;,\\,,,j ',. "". ," DWIGI-rr E. BROCK,.~rk , ", ,...... '~ . '- ..t: . BOARD OF COUNTY COMMISSIONERS COLLlE[ UNTY, FLOR1>A ~ BY: .~ d~ Donna Fiala, Chairman " '. , ^tte~t II . . "gAat..... ORt' AS TO OWNER: DATED: BY: Witness (Signature) Name: (Print or Type) Printed Name Witness (Signature) Title Name: (Print or Type) Approved as to form and legal sufficiency: At-- LvtA. 7 0.)~ 5f-e-vt1l\ "T"':" w: II :~W\s Assistant County Attorney EXHIBIT "An CURRENT CONDITION ADDENDUM ADDENDUM TO PURCHASE CONTRACT DATED 04/13/2009 BETWEEN Collier County (BUYER) (SELLER), FOR THE PURCHASE AND SALE AND Vericrest Financial, Inc OFTHE PROPERTY LOCATED AT: 571 Everglades Blvd N, Naples, FL 34120 SELLER IS SELLING THIS PROPERTY DUE TO THE DEFAULT OF A BORROWER AND THEREFORE, FORECLOSED AND TOOK POSSESSION OF SAID PROPERTY. SELLER HAS NEVER OCCUPIED THIS PROPERTY AND IS UNFAMILIAR WITH THE REAL PROPERTY, ITS CONSTRUCTION, AND THE CONDITION OF ITS STRUCTURE, FIXTURES, APPLIANCES, COMPONENTS, OR ANY OTHER FACT RELATING TO THE REAL PROPERTY. BUYER(S), AT THE BUYER(S) OPTION AND EXPENSE, MAY MAKE INDEPENDENT INSPECTIONS OF THE PROPERTY WITHIN SEVEN (7) WORKING DAYS OF ACCEPTANCE OF THE PURCHASE CONTRACT. BUYER(S) FAILURE TO NOTIFY SELLER OR SELLER'S AGENT, IN WRITING, WITHIN THE ALLOTTED TIME, OF ANY OBJECTIONS AS A RESULT OF ANY INSPECTION SHALL BE DEEMED AS CONCLUSIVE EVIDENCE OF BUYER(S) APPROVAL OF SAID INSPECTIONS AND/OR A WAIVER OF THIS CONDITION AND THEIR INTENT TO PROCEED WITH THE CLOSING OF THIS TRANSACTION. IN THE EVENT BUYER(S) OBJECTS TO ANY FINDINGS, IN WRITING, THEN ESCROW SHALL BE INSTRUCTED TO RELEASE THE DEPOSIT TO BUYER(S). BUYER ACKNOWLEDGES THAT HE/SHE IS NOT RELYING ON ANY REPRESENTATION BY SELLER OR SELLER'S AGENT, AND BUYER(S) ASSUMES ALL RISKS, COSTS AND EXPENSES INVOLVED WITH ANY PROPERTY INSPECTIONS AND/OR DEFECTS OR FINDINGS RELATING THERETO. SELLER DOES NOT WARRANT THIS PROPERTY OR STRUCTURE AS TO HABITABILITY OR SUITABILITY FOR OCCUPANCY OR ANY USE. BUYER IS TO MAKE AN INDEPENDENT DETERMINATION THAT THE REAL PROPERTY CONFORMS WITH ANY AND ALL EXISTING LOCAL, STATE AND FEDERAL BUILDING CODES, REQUIREMENTS, ETC. BUYER(S) IS ACCEPTING THIS PROPERTY IN ITS CURRENT CONDITION AND THE CLOSING OF THIS SALE SHALL CONSTITUTE AN ACKNOWLEDGEMENT BY BUYER(S) THAT THE PROPERTY, PREMISES AND CONSTRUCTED SYSTEMS, APPLIANCES, ETC., WERE ACCEPTABLE AT THE TIME THE SALE WAS CLOSED. BUYER(S) ARE AWARE THAT ANY KEYS GIVEN TO BUYER BY SELLER OR SELLER'S AGENT MAY HAVE BEEN MADE AVAILABLE TO VARIOUS TRADESMEN, REAL ESTATE AGENTS, ETC. BUYER IS ADVISED TO RE-KEY THE SUBJECT PROPERTY UPON THE CLOSING OF THE TRANSACTION. BUYER(S) HOLDS BROKER AND SELLER HARMLESS FROM FISCAL OR LEGAL RESPONSIBILITY ARISING FROM ANY DEFECT IN THIS PROPERTY OR STRUCTURES THEREON. BUYER(S) AGREE TO AND ACKNOWLEDGE A RECEIPT OF THIS ADDENDUM. * ~ ~6A);rr~ --PA-6C-- BUYER: /4-77 I'JC II--~ Acrze7b DATE: BUYER: DATE: SELLER: DATE: DATE: BY: IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of , 2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED:~ A TTESJ::'. ",' ," "...?.c-;,~ DWIGHT E. BROCK,(Zlerk :', . .' " :::4 Atttlt I' " , '1Q11.t..,..~' ~.).' . , BOARD OF OUNTY COMMISSIONERS COLLIER NTY, FLORI9A _ BY: ~ d~ Donna Fiala, Chairman AS TO OWNER: DATED: BY: Witness (Signature) Name: (Print or Type) Printed Name Witness (Signature) Title Name: (Print or Type) Approved as to form and legal sufficiency: ~7W~ S+-!.Vell rw: Jf.'4 ""$ Assistant County Attorney Disclosure of Information on Lead-Based Paint and Lead-Based Paint Hazards Lead Warning Statement Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 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. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller's Disclosure (Initial) (a) Presence of lead-based paint and/or lead-based paint hazards (check one below): D Known lead-based paint and/or lead-based paint hazards are present in the housing (put in plain words). D Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. . (b) Records and reports available to the seller (check one below): D Seller has provided the purchaser with all available records and reports pertaining to lead-based paint and/or lead-based paint hazards in the housing (list documents below). IZ$J Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. Purchaser's Acknowledament (initial) (c) Purchaser has received copies of all informatiqn listed above. ...(.d) Purchaser has received the pamphlet Protect Your Family From Lead in Your Home. Y (e) Purchaser has (check one below): . )Cr Received a 1 O-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 D Waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. Aaent's Acknowledament (initial) AP (f) Agent has informed the seller of the seller's obligations under 42 U.S.C. 4852d and is aware of his/her responsibility to ensure compliance. Certification of Accuracv The following parties have reviewed the information above and certify, to the best of their knowledge, that the information provided by the signatory is true and accurate. SELLER BY: DATE t1. ~-- ~.rt, AGENT ~ 04/13/2009 DATE r;:~~ AGENT 04/13/2009 DATE 4~lof DATE PURCHASER DATE PURCHASER DATE PURCHASER DATE Verierest Financial, Ine COVER ADDENDUM TO PURCHASE CONTRACT Vericrest ACCOUNT #9501320460 Vericrest ACCOUNT NAME: Blat PROPERTY ADDRESS: 571 Everglades Blvd. N Naples. FL 34120 BUYER'S NAME: (CLEARLY PRINTED) Collier County · Purchase price to be $ 48,500 "as is". · Seller shall pay $ 0 for concessions and/or closing costs. · Buyer will pay $ 1,000 as earnest money. · Seller shall not pay for inspections or repairs, unless otherwise approved by Seller in writing at a cost not to exceed $ 250 · Seller shall not pay for a home warranty, unless otherwise approved by Seller in writing at a cost not to exceed $_0_ · Seller shall not pay for termite inspections or treatment, unless otherwise approved by Seller in writing at a cost not to exceed $ 0 · Seller will not pay for surveyor appraisal, unless otherwise approved by Seller in writing at a cost not to exceed $ 0 · Seller shall not pay for owners title insurance, unless otherwise approved by Seller in writing at a cost not to exceed $ 0 · Buyer waives all rights to Mediation or Arbitration as may be permitted under applicable law, and in the event of dispute, Buyer's sole remedy shall be return of the earnest money provided by Buyer. · In the event of Seller's default, the earnest money shall be returned to the Buyer by the Escrow Agent and shall constitute Buyer's sole and exclusive remedy. Buyer expressly waives any other rights or remedies including without limitation the right of specific performance. · Seller shall not pay any per diem. · Seller shall not pay any fee for a termination option clause. · This is an "as is" sale and Buyer waives all representations or warranties, expressed or implied as to the condition of the Property and agrees that Seller has made no representations or warranties to Buyer. · Closing shall occur no more than 15 days from acceptance on all cash sales, no more than 30 days from acceptance on all conventional sales and no more than 45 days from acceptance on all V A, FHA or USDA sales. · No repairs are to be made to the property prior to closing. This addendum will supersede the purchase agreement, and any counters, but not the [VENDOR NAME HERE] Addendum. Seller's name is Vericrest Financial Inc. and or its assignees. BUyer* *?~A7r~~GlJ.+Jt::;<<:> Date: Buyer: Date: Seller: Date: IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of ,2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED:~ ATTEST:, ;';',\;l{" DWIGtifE',' BRO~I Clerk .... - " .."".... . AtttIt II ,,~ . .f.... .,iP l BOARD OF OUNTY COMMISSIONERS COLLIER UNTY, FLORIy>A _ BY: ~ d~ Donna Fiala, Chairman AS TO OWNER: DATED: BY: Witness (Signature) Name: (Print or Type) Printed Name Witness (Signature) Title Name: (Print or Type) Approved as to form and legal sufficiency: ~7.uJL StW(Fl rw:II:/\M$ Assistant County Attorney ~ Addendum No, 1 to the Contract dated 04 13 2009 between Vericrest Financial, Inc and Collier County (Seller) (Buyer) concerning the property described as: 571 Everglades Blvd N Naples FL 34120 (the "Contract"), Buyer and Seller make the following terms and conditions part of the Contract: 1.) Buyer to make initial Escrow Deposit within 15 days of Effective Date in the amount of $1,000.00. 2.) Transaction shall be closed and the closing documents delivered on or before OS/28/2009. Date: BUYer*~ ~G.oItrQ2Lj !h- Ifrr ~ t-l~ Date: Buyer: Date: Seller: Date: Seller This form is available for use by the entire real estate industry and is not intended to identify the user as a REALTOR. REALTOR is a registered collective membership mark that may be used only by real estate licensees who are members of the National Association of RfAlTORS and who subscribe to its Code of Ethics, The copyright laws of the United States (17 U.s, Code) forbid the unauthorized reproducOOn of blank forms by any means induding facsimile or computerized forms, ACSP-2a Rev. 6/94 <01994 Florida Association of REALTORS@ All Rights Reserved This software is licensed to [Traian Petrila - prosults Realty] www.transactiondeBk.com. /,.,.!ft,t [B G:r Ift:injjjj IIr "lIOR' ........... IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of I 2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED: -4 J 17);{Od 9 I ( ATTESI: ',"'~' " ' DWIGHT ~" BROCk,'Clerk t. BOARD OF COUNTY COMMISSIONERS COLLIER C NTY, FLORIDA / ...... .. 'i~"OR,r.f \' AS TO OWNER: DATED: BY: Witness (Signature) Name: (Print or Type) Printed Name Witness (Signature) Title Name: (Print or Type) Approved as to form and legal sufficiency: ~7.LJJ_t~ SJ.-l VUt r u: (f,'Q, wtj Assistant County Attorney _~._,.,.w,._,,,~~...._...,,.~_,,.... ... u ... ..""""...... ADDENDUM TO PURCHASE CONTRACT AT TEN T ION! ! REALTORS AND POTENTIAL BUYERS!! The following information is being provided to realtors and potential Buyers to assist in understanding how to prepare an offer on an REO property and to outline other procedures necessary to complete an REO sale, Multiple copies of this document should be placed in the property for distribution to realtors and potential Buyers. A signed copy must accompany any offer to purchase, 1. The former mortgage on this property has been eliminated; there is no mortgage to assume, 2, Offers contingent upon the sale of an existing home will not be considered, 3. Occupancy of the property by the Buyer prior to closing will not be considered, 4, All special addenda must be included with any offers. 5. Initial offers should be made in writing, Subsequent negotiations will be conveyed by fax or e-mail. Once the offer is verbally accepted, the property is off the market, unless otherwise indicated, in writing, and contracts reflecting the accepted verbal terms should be prepared and signed by the Buyer, This will be sent to the Seller for their signature, It takes at least 7 to 10 days for contracts, as well as subsequent closing documents, to be signed by the Seller and returned, 6, The mortgage application process must begin within 3 days of verbal acceptance, Lenders are familiar with 3'd party contracts and should begin processing the loan without the signature of the Seller, 7. The Seller is a corporation who acquired the property through foreclosure sale, The Seller has never seen nor occupied the property, The Seller makes no representations, guarantees or warranties, either written or implied, regarding the property. 8, The property is being sold in "AS-IS" condition with no expressed or implied representations or warranties by the Seller or its agents as to the physical conditions, quality of construction, workmanship or fitness for any particular purpose. The Seller has no obligation to make any changes, alterations or repairs to the property, 9, Unless otherwise agreed upon by the Seller in the Purchase Contract, Buyer will be responsible for lender required and Certificate of Occupancy required repairs. if any. 10. Buyers are permitted to conduct physical inspections on property so as to satisfy themselves as to the condition of the property. All physical inspections must be completed within 7 days from acceptance of this offer, and any unacceptable conditions must be presented to Seller, in writing, within the inspection time frame of 7 days, 11, Multiple offers may be received on the property, The Seller is under no obligation to negotiate offers in the order in which they are received, It is solely at the discretion of the Seller as to which offer, if any is accepted or countered at any given time. The Real Estate Company and its agent(s) cannot guarantee or predict which offer the Seller will accept or counter and cannot outline criteria under which any offer mayor may not be selected, The real estate company and its agent(s)' only obligation is to present all offers to the Seller when they are received, The Seller mayor may not act upon any offers received, 12. Buyer to be aware that any property built prior to 1978 may contain lead based paint. Seller makes no representations regarding the presence or content of lead based paint. Buyer may perform lead testing at their expense within the inspection time frame specified in number 12 of this addendum. 13, Any extensions to said Contract shall require written consent of Seller. 14, Seller requires a 5-business day response time on all offers, ......\])e undersigned hereby acknowledges the foregoing has been read and is understood, ~ ~ ~~'7(51U;1 fACE- BUYER frrr+}-G~b ~To DATE BUYER -;P .-c?'~ ~ REALTOR WORKING WITH BUYER (S) DATE 04/13/2009 DATE SELLER DATE SELLER DATE IN WITNESS WHEREOF, the parties hereto have executed this Agreement on this day of ,2009 Date Property acquisition approved by BCC: March 24, 2009, Item 10F AS TO PURCHASER: DATED: ~ \J1j'z.o09 ATTESn.7'.r:r. ,~ DWIQfi,f'E'''-B'ROC~, Clerk '(' '. ;;,,, L. BOARD OF COUNTY COMMISSIONERS COLLIE UNTY, FLORJJA _ ~~~ Fiala, Chairman AS TO OWNER: DATED: BY: Witness (Signature) Name: (Print or Type) Printed Name Witness (Signature) Title Name: (Print or Type) Approved as to form and legal sufficiency: >>-~ 7,WJ1~~ Sh,lJcf'\ TW: II:QM,5 Assistant County Attorney MEMORANDUM Date: April 17, 2009 To: Gary Bigelow Property Acquisition Specialist From: Ann Jennejohn, Deputy Clerk Minutes & Records Department Re: Purchase & Sales Agreement for Property at 571 Everglades Blvd. N for the Neighborhood Stabilization Program Enclosed is the original sales contract referenced above (Agenda Item #10F) approved by the Board of County Commissioners on Tuesday, March 24, 2009. After processing please forward a fully executed copy to the Minutes & Records Office for the Board's Official Record. If you should have any questions, please contact me at 252-8406. Thank you. Enclosure