Addendum to Contract
ADDENDUM "A"
FIRST ADDENDUM TO CONTRACT
ASSET NUMBER: 0019922855
Seller: AHMSI
Buyer: Collier County A political subdivision of the State of Florida
Buyer: ________
Property Address: 5352, 23RD CTSW City, State: NAPLES, FL
(together With any improvements thereon. the "Property")
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Addendum Date: (}e/2~/2000
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Contract Title and Date: 06/26.'2000 (the "Contract")
---- "110/2001
Offer Expiration Date: 500 p.m (EST) on Q8!92.'200Q (the "Offer Expiration Date")
BUYER(S) AND SELLER AGREE AS FOLLOWS:
(A) OFFER AND ACCEPTENCE:
Buyer acknowledges and agrees that: (I) Seller has reserved the right to receive multiple offers and make
multiple counter-offers with respect to the Property which are the subject of the Contract;(Ii) Seller reserves the
right to continue to offer the Property for sale until both the Contract and this Addendum (as defined in
Paragraph C below) have been fully executed and delivered by Buyer and Seller, and (Iii) This counter-offer
shall expire at 5:00 p.m. (EST) on the Offer Expiration Date Seller's acceptance of another offer and/or counter-
offer prior to the full execution and delivery of the Contract and this Addendum by both Buyer and Seller shall
constitute Seller's revocatIOn of this counter-offer and automatically render thiS Addendum null and void.
Buyer's communication of ItS acceptance of thiS counter-offer (as eVidenced by delivery of a signed copy of this
Addendum) must be received by Seller or Seller's agent in writing prior to 5.00 p.m (EST) on the Offer
Expiration Date. In no event shall Seller have any obligation to Buyer whatsoever unless and until Seller fully-
executes and delivers both the Contract and thiS Addendum to Buyer
(B) SUMMARY OF MATERIAL DATES AND AMOUNTS IN THE AGREEMENT;
CERTAIN DEFINITIONS:
I
The term "Sale Price" shall mean $55,00000
ii
The term "Earnest Money Deposit" shall mean $1,000.00. glol~ ~t tRio' t:ig~iRS \Wf Hm,.^ ii88"'8l:l~.
III
The term "Additional Deposit" shall mean $ 0 , due upon the removal of all inspection contingencies.
Buyer shall deliver the balance of the Sale Price In the amount of $54.000_00 Irltllll;!\W 1il&\il~Q'" Ii)' wice
iTM!fm at lee~t eJfl0 (1) tH:I!lln066 day [ilrlQr te tAe C188iA~ Dflt6 "T c,t-o'7tAl~.
IV
The term "Deposit" shall mean the sum of tr1e E amest Money Deposit Additional Deposit and any other
subsequent deposits held In escrow or otherWise Intended to be Jpplled toward the Sales Price The
Deposit shall be non-refundable except In connection with Paragraph F of thiS Addendum or as expressly
provided otherWise In thiS Addendum
v The term "Agreement" shall mean, collectively, the Contract, thiS Addendum and any adde,nda,
supplements, riders or amendments thereto
VI The term "Closing Date" shall mean on or before 07/16/2009.
(C) CONFLICT BETWEEN THE CONTRACT AND THIS ADDENDUM:
In the event any prOVISion of thiS Addendum A" First Addendum To Contract (this "Addendum") conflicts in
whole or In part Wltr1 dny of the termOi and conditions of the Contract, the terms of thiS Addendum shall control
Buyer's InltlC:liS
Seller's Initials
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the rights and obligalions of the parties.
(D) ASSIGNMENT OF THE AGREEMENT:
Buyer shall neither assign its rights nor delegate its obligations under the Agreement without obtaining Seller's
prior written consent, which consent may be withheld in Seller's sole discretion. In no event shall any
assignment relieve Buyer from its obligations under the Agreement If Buyer attempts to or actually assigns the
Agreement or delegates its obligations under the Agreement without obtaining Seller's prior written consent,
then the Agreement may be deemed null and VOid at Seller's election. If Seller elects to nullify the Agreement
as a result of any such assignment, then Seller shall be entitled to retain the Deposit in accordance with
Paragraph K of thiS Addendum. Oell61 1,,8) 1lI33i!:jR tRt: ,!\'~reerlffint Elt its sels ais8~9li9A '/.'itRQldt filfi~r R~tig\W tQ, er
COR~t:l'lt ef, IRQ I!l.IYIil.
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(E) NO REPRESENTATIONS OR WARRANTIES; PROPERTY SOLD "AS IS":
Buyer acknowledges and understands that the Property is being purchased and sold as-is, where-is
and with all faults. Buyer further acknowledges and understands that the Property was acquired by
Seller through a foreclosure or other similar action and therefore, Seller is not an owner-occupant and
Seller's information concerning the Property and its condition is extremely limited. Accordingly, Buyer
acknowledges and understands that Seller makes no representations or warranties, express or implied,
regarding any known or unknown, apparent or latent defects in the Property or any appurtenant
systems, including, without limitation, plumbing, heating, air conditioning and electrical systems,
fixtures, appliances, roof, sewers, septic, soil conditions, foundation, structural integrity, environmental
condition (including, without limitation, the presence hazardous or toxic substances), pool or related
equipment. Seller makes no representations or warranties, express or implied, as to (i) the condition of
the Property or any of the Property's systems or improvements, or (ii) the habitability, marketability,
profitability, serviceability or fitness for a particular use of the Property or any component of the
Property. Buyer further acknowledges and agrees that the Sale Price and the terms and conditions set
forth in the Agreement are the result of arm's-length bargaining between parties familiar with
transactions of this kind and said price, terms and conditions reflect the fact that Buyer shall have the
benefit of, and is relying upon, no statements, representations or warranties, express or implied,
whatsoever relating to any aspect of the Property made by or enforceable directly against Seller, any
affiliate of Seller or any broker or agent of Seller, including, without limitation, any statements,
representations or warranties relating to the known or unknown condition, dimensions, square footage,
descriptions, soil condition, suitability, availability of water and other utilities, compliance or lack of
compliance with any state, federal, county or local law, ordinance, order, zoning, rule, permit or
regulation or any other attribute or matter of or relating to the Property_ Buyer represents, warrants and
covenants to Seller that Buyer is relying solely upon its own inspection and investigation of the
Property. If Seller obtains or has obtained the services, opinions or work product of surveyors,
architects, engineers, title companies, governmental authorities or any other person or entity with
respect to the Property, Buyer and Seller agree that Seller shall do so only for the convenience of both
parties and the reliance by Buyer upon any such services, opinions or work product shall not create or
give rise to any liability of or against Seller.
The closing of this sale shall constitute acknowledgement by the Buyer that the condition of the
Property and all components thereof is acceptable to the Buyer at that time. The Buyer agrees that
Seller shall have no liability for any claims or losses the Buyer or the Buyer's successors or assigns
may incur as a result of defects that may now or hereafter exist with respect to the Property or any
component thereof.
I he parties agree that Seiler IS exempt from filing a disclosure statement aOi tho ProfJerty was acquired through
forecluOiure, deed-In-Ileu of foreclosure. forfeiture, tax sale, eminent dOmcitrl or Similar process. For Alaska
transactions the Seller ana the Buyer have preVIOUSly executed a waiver of the disclosure proviSions of Alaska
statutes
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Buyer's Initials: _____nn__ ___
Seller's Initials:
Page 2 of 14
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I Deadline for Commitment: The Agreement IS subject to the conditIOn that on or before 500 p.m. (EST) on
(the "Financing Deadline"), Buyer shall secure a wntten commitment for a loan to be secure ya
tgage or deed of trust on the Property in the amount of $000 (a "Commitment"), or such Ie er sum
as B r accepts, and provide a copy of such Commitment to Seller. After the expiration of t Financing
Deadline d Buyer's delivery of the Commitment to Seller, Buyer shall not revise the loa erms set forth
In the Com ent without Seller's prior written consent If Buyer revises the terms ItS loan after the
FinanCing Dead without Seller's prior wntten consent. Buyer shall be in defau nder the Agreement
and Seller shall be etled to terminate the Agreement and retain the Deposit g suant to Section K of this
Addendum. If Buyer de rs written notice to Seller that such financing has en declined (a "Notification
of Decline") prior to the nClng Deadline, then the Agreement s become null and VOid and the
Deposit shall be returned to Bu If Buyer fails to deliver to Seller Ither a Commitment or a Notification
of Decline prior to the Financing adline, then Buyer shall deemed to have waived the foregoing
financlrlg contingency and the Agreem t shall remain In force and effect without any such financing
contingency
ii. Buyer's Expense. Buyer shall, at Buyer's so
mortgage loan from any source selected by Bu Any delays caused by any lender of such mortgage
loan ("Buyer's Lender") regardless of wh er Bus conduct caused such delay, shall constitute a
default under the Agreement by Buyer a Seller shal entitled to retain the Deposit as liquidated
damages pursuant to Paragrap~l K ow.
iii. Buyer's Authonzatlon for Buyer's nder: Buyer hereby authoriz Buyer's Lender (and/or its successors
and assigns) to discuss wit eller and any agent or affiliate 0 eller, the details of Buyer's loan
application Including, With limitation, Buyer's credit history (including a
the progress of the en. loan application
iv. Buyer's Authoriza . for Seller Buyer hereby authorizes Seller. any agent 0 ffiliate of Seller or any
Investigative a cy hired by Seller, to investigate Buyer's ability to purchase the Pr rty under the terms
and condi s of the Agreement including, without limitation, ordering a credit his
reportl agency and discussing Buyer's loan application with Buyer's Lender and/or Its ccessors or
ass s Buyer srlall be enlitled, upon request, to a complete and accurate disclosure of the
ope of any such Ir1vestlgatlon
___________(Buyer's Initials) (Buyer's Initials)
I HAVE READ THIS PARAGRAPH AND I AM INITIALING TO
VERIFY THAT I ACCEPT IT AS PART OF THE AGREEMENT
(_)/(_) (2) All Cash Transaction:
The purchase and sale of the Property is an all-cash sale and purchase and is NOT contingent upon Buyer's
obtaining financing for the purchase of the Property regardless of any mortgage loan application made by Buyer
to any lending institution_ Buyer understands and agrees that neither delivery of a commitment for a mortgage
loan from any lending institution nor Buyer's acceptance of such a commitment will in any way be a condition of
Buyer's obligations under the Agreement. Buyer represents to Seller that Buyer has sufficient readily available
funds to complete the purchase of the Property and will submit proof of such funds upon request of Seller. If
Buyer is unable to deliver the full Sale Price to Seller on the Closing Date, then Seller shall be entitled to retain
the Deposit as liqUidated damages pursuant to Paragraph K below
(G) CLOSING COSTS:
rees to pay all of Buyer's closing costs, including the cost of any fees, interest and char y
Buyer sLender nds that it may also have to pay certain pre nses including, without
limitation, property taxes, water and sew egardless of local custom or practice, the
Buyer shall pay any and all real esta xes due as are ance of the Property. The
Buyer shall pa and fees Incurred in the transfer of the Property, except as e ed
e er In the Agreement.
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iRstrt./etieAs "re.ielel!l BY &&JIw.
(H) INSPECTIONS:
Buyer. at Buyer's sole cost and expense after Seller's delivery of notice to Buyer of Seller's wntten acceptance
Buyer's Initials
Seller's Initials.
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of this Addendum, shall have the opportunity to inspect all aspects of the Property including testing regarding,
without limitation, environmental, asbestos, radon gas, lead paint, mold, physical defects including structural
defects, roof, basement, mechanical systems such as heating and air conditioning, electrical systems, sewage
and septic systems. plumbing, exterior site drainage termite and other types of pest and insect infestation or
damage caused by such infestation, boundary surveys, and unrecorded costs, liens, assessments, or
Judgments including, Without limitation, code violations, taxes, utility liens, or condominium assessments. Any
and all costs and expenses associated with any such Inspection shall be referred to as "Inspection Costs". In
no event. InCluding, but not limited to If the sale of the Property falls to close due to an Issue stemming from
any such inSpection, shall Seller be reqUired to reimburse Buyer for any Inspection Costs. Seller will not supply
surveys, boundary surveys or footprrnt surveys or any other documents With respect to the Property. If the
Property IS a condominium or planned urllt development or co-operative, unless otherWise reqUired by law, the
Buyer, at the Buyer'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.
Mold, mildew spores and/or other microscopic organisms and/or allergens (collectively referred to in this
paragraph 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 inJunes, including
but not limited to, allergic and/or respiratory reactions or other problems, particularly In persons With Immune
system problems, young children and/or elderly persons. Mold has also been reported to cause extenSive
damage to personal and real property. Mold may have been removed or covered In the course of any cleaning
or repalflrlg of the Property The Purchaser acknowledges that. If Seller, or any of Seller's employees,
contractors, or agents cleaned 01' repaired the Property or remediated Mold contamination, that Seller does not
In any way warrant the cleaning, repairs or remediation Purchaser accepts full responsibility for all hazards that
may result from the presence of Mold in or around the Property. The Purchaser is satisfied With the condition of
the Property notwithstanding the past or present eXistence of Mold In or around the Property and Purchaser has
not in any way, relied upon any representations of Seller, Seller's employees, affiliates, servicers, brokers,
officers, directors, contractors, or agents concerning the past or present existence of Mold in or around the
property.
BUYER IS ENCOURAGED TO OBTAIN THE SERVICES OF A QUALIFIED AND EXPERIENCED
PROFESSIONAL TO CONDUCT INSPECTIONS AND TESTS IN, ON AND UNDER THE PROPERTY PRIOR
TO THE END OF THE SEVEN (7) CALENDAR DAY INSPECTION PERIOD (AS DESCRIBED BELOW), AS
TO THE EXISTENCE OF CERTAIN CONDITIONS, INCLUDING, WITHOUT LIMITATION, ANY OF THOSE
LISTED IN THIS PARAGRAPH H, THAT COULD CAUSE SERIOUS HEALTH PROBLEMS AND/OR A
SUBSTANTIAL REDUCTION IN PROPERTY VALUE. Buyer hereby agrees and acknowledges that Buyer IS
solely responSible for any reqUired remediation and/or resulting damages, Including, Without limitation, any
effects on health due to a condition In on under or around the ProfJerty.
In the event the Property IS affected by an enVIronmental haLard, as determlnod by the Seller, either party may
terminate the Agreement and the DepOSit shall be returned to Buyer. In the event the Seller decides to sell the
Property to the Buyer and the Buyer agrees to purchase the Property despite any environmental hazard, the
Buyer agrees to execute a release and hold harmless agreement at clOSing, In a form acceptable to Seller. In
the event the Buyer elects not to execute the release and hold harmless agreement. at the Seller's discretion,
the Agreement IS automatically terminated upon notice given to Buyer and Seller shall retain the Deposit. If
there is an enforcement proceeding ariSing from allegations of violation of building codes or similar laws or
regulations before an enforcement board, speCial master, court or Similar enforcement body, and neither the
Buyer nor the Seller terminate the Agreement, the Buyer 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 proceeding. Buyer agrees to execute any and all documents necessary or required for clOSing by
any agency With junsdiction over the Property.
Buyer shall keep the Property free and clear of any mechanics' liens or materialmens liens related to Buyer's
examination and Irlvestigation and Buyer shall protect, defend, indemnify and hold Seller (and Seller's agents,
servicers employees. contractors, brokers, shareholders. afflliatoo;, officers and directors, collectively, the
"Seller Indemnities") harmless from ana against any and all losses, costs, expenses (inCluding attorneys' fees
and actualiy Incurred court costS). claims. damages, liens and stop notices whatsoever and shall repair any and
all damages to any portion of the Property to the extent anslng out of or related (directly or Indirectly) to Buyer's
and/or Buyer's consultants/contractors conducting (but not the results thereof) such Inspections, surveys, tests
and studies Buyer shall provide Seller with written notice at least two (2) days prior to Buyer's entry
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Buyer's Initials.
Seller's Initials.
onto the Property.
If Buyer falls to timely deliver to Seller wntten notice of Its cancellation of the Agreement for any reason, on or
before 5.00 pm (EST) on the date SEVEN (7)calendar days after the date of thIs Addendum (the "Inspection
Period Deadline"), Buyer shall conclusively be deemed to have. (i) completed and approved of all inspections
and Jrlvestigations, reviewed all applicable documents and disclosures (Ii) elected to proceed with the
transaction, and (iil) assumed all liability, responsibility and expense for any reqUired repairs or corrections other
than for items which Seller has otherwise agreed in writing to repair or correct. If Buyer timely objects to the
condition of the Property by the Inspection Period Deadline, then Buyer as Buyer's sole option, may terminate
the Agreement and neither party shall have any further obligations under the Agreement. As a condition to
Buyer's right to terminate the Agreement prior to the Inspection Period Deadline, Buyer agrees to submit to
Seller any and all written reports resultmg from any inspections conducted or ordered by Buyer within three (3)
calendar days following the close of the Inspection Penod Deadline. Upon Seller's receipt of such reports. the
Deposit will be refunded to Buyer
(I) ~_ELLER'~ UNLIMITED RIGHT TO GANCE!:JH_E AGREEMENT:
AT ANY TIME SELLER SHALL HAVE THE RIGHT, IN ITS SOLE DISCRETION, TO ELECT TO DEEM THE
AGREEMENT NULL AND VOID IF (I) REQUIRED BY APPLICABLE LAW, (II) REQUIRED BY ANY
EXISTING CONTRACT OR AGREEMENT BINDING UPON SELLER AND/OR THE PROPERTY,
INCLUDING, WITHOUT LIMITATION, ANY AGREEMENTS WITH THE PRIOR OWNER OF THE PROPERTY,
ANY MORTGAGE INSURER OR ANY MORTGAGE BROKER. UPON SELLER'S DELIVERY OF WRITTEN
NOTICE TO BUYER OF SELLER'S ELECTION TO NULLIFY THE AGREEMENT PURSUANT TO THIS
PARAGRAPH, THE PARTIES SHALL BE RESTORED TO THEIR ORIGINAL POSITIONS AS IF THE
AGREEMENT NEVER EXISTED. SHOULD SELLER EXERCISE ITS DECISION TO NULLIFY THE
AGREEMENT, THE DEPOSIT SHALL BE RETURNED TO BUYER. BUYER AGREES THAT SHOULD
SELLER NULLIFY THE AGREEMENT PURSUANT TO THIS PARAGRAPH, BUYER WAIVES ITS RIGHT TO
SUE SELLER FOR SPECIFIC PERFORMANCE AND/OR DAMAGES AND FULLY RELEASES SELLER AS
FURTHER SET FORTH IN THE RELEASE CONTAINED WITHIN PARAGRAPH V OF THIS ADDENDUM.
(Buyer's Initials) (Buyer's Initials)
I HAVE READ THIS PARAGRAPH AND I AM INITIALING TO
VERIFY THAT I ACCEPT IT AS PART OF THE AGREEMENT
(J) REPAIRS:
Any repairs to the Property identified by Buyer or which may be required by Buyer's Lender (collectively,
"Repairs") are the sole responSibility of Buyer. Seller shall have no obligation to make any Repairs to the
Property whatsoever. Buyer agrees not to enter the Property prior to the Closing Date for the purpose of
makJrlg any Repairs or any other alterations without Seller's express prior written consent.
(K) LIQUIDATED DAMAGES; DEPOSIT:
R
ED DAMAGES PROVIDED FOR IN THIS SECTION INCLUDING, WITHOUT LIMITATION
ANY NOTlC IONS TO ANY ESCROW HOLDER NOT TO DELI EPOSIT TO
SELLER, SELLER SHALL HAV 0 RECOVER IT YS' FEES AND COSTS OF
COLLECTION AND/OR ENFORCEMENT IN ADD LER'S LIQUIDATED DAMAGES. THE
PARTIES ACKNOWLEDGE TH ENT OF SUCH L1QUIDAT S NOT INTENDED
AS A FORFE NALTY, BUT IS INTENDED TO CONSTITUTE LIQUIDATED
(Buyer's Initials) (Buyer's Initials)
I HAVE READ THIS PARAGRAPH AND I AM INITIALING TO
VERIFY THAT I ACCEPT IT AS PART OF THE AGREEMENT
(L) SELLERS CLOSING COSTS AND BROKERAGE COMMISSION:
Seller agrees to contribute the following amounts. if applicable, as a reduction in the Sale Price
I. $0.00 towards Buyer's non-recurring closing costs, discount points, and, if applicable, Buyer's non-
allowable FHA/VA costs;
ii. $0.00 as a credit to Buyer at closing for Buyer to purChase a Home Protection Plan; and
iii $0.00 towards a termite report.
Seller will pay a brokerage commission In accordance with the listing agreement between the listing broker and
Seller. The selling broker, if any, IS set forth below Seller hereby Instructs the closing agent to pay the
brokerage commiSSion to the listing broker and any selling broker (if applicable) after the closing via separate
checks made out to the follOWing companies in IRS f8118WII'1~ ell'ASOIAtlii,
Listing Broker's Fee Payable to Amerivesl ReCllty. if<1 tf<1l'1 elRl€Il'>il'lt QC-
~IIIAS IireIH;)f's Plaia' POl)'fiIlillil tla iA IRS ElI'ASOIl'lt sf
(M) TRANSFER OF TITLE AND SUBSEQUENT NOTICE OF COSTS, LIENS, OR ASSESSMENTS:
Seller shall transfer title to the Property to Buyer by means of a special ef li~ihil-il warranty deed. ~
f)~l5Ii"allill'lt tl;!\jrliillilf (the "Deed"). The acceptance of the Deed by Buyer will be deemed to constitute full
compliance by Seller With all of the terms and conditions of the Agreement. Seller shall NOT be responsible for
any unpaid real estate taxes and/or assessments, levies, homeowner association fees and charges, utility
charges or any other charges not readily obtainable from a title search prior to closing. IF AT ANY TIME
AFTER THE CLOSING DATE, BUYER OR ITS ASSIGNS OBTAINS ACTUAL OR CONSTRUCTIVE NOTICE
OF ANY COSTS, LIENS, ASSESSMENTS, OR JUDGMENTS ASSOCIATED WITH THE PROPERTY THAT
WERE NOT OF RECORD AT THE TIME OF THE CLOSING INCLUDING, WITHOUT LIMITATION, CODE
VIOLATIONS, TAXES, UTILITY LIENS, OR CONDOMINIUM ASSESSMENTS, BUYER SHALL BE
RESPONSIBLE FOR PAYMENT OF SAME AND BUYER HEREBY RELEASES SELLER OF ANY AND ALL
LIABILITY IN CONNECTION THERETO, REGARDLESS OF WHETHER (I) SELLER OWNED THE
PROPERTY AT THE TIME SUCH COSTS WERE ASSESSED OR INCURRED OR (II) SELLER HAD ACTUAL
OR CONSTRUCTIVE NOTICE OF THE EXISTENCE OF SUCH COSTS, LIENS, ASSESSMENTS, OR
JUDGMENTS. Buyer IS responsible for verifying any pOSSible liens, judgments, or assessments that may not
be of record and hereby releases Seller from any and all liability related to any such liens, judgments or
assessments Notwithstanding anything to the contrary in the Agreement, the provisions of Paragraphs C, D, E,
H, I. K, M, and P through dd of thiS Addendum. as well as any other proVision which contemplates performance
or observance subsequent to any termination or expiration of the Agreement, shall survive the closing, funding
and the df;livcry of the Deed and/or termination of H1e Agreement by any party and continue In full force and
effecl
(N) TITLE AGENT:
Seller shall select the title agent to Issue the owner's title insurance polley and shall pay the title examination fee
and the premium for such policy Buyer shall pay the customary closmg fee to the closing/title agent. Buyer is
entitled to legal representation at the closing and may elect to have such representation at Buyer's sole
expense. The clOSing of the transaction contemplated by the Agreement shall be held at a location designated
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Buyer's Initials
Seller's Initials:
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by Seller. It is Seller's intent to deliver an owner's title insurance policy in lieu of an abstract in the customary
abstract states. Buyer hereby accepts such owner's title insurance in lieu of an abstract, if applicable.
(0) INSURANCE POLICIES:
Seller's Insurance policies covering the Property are not transferable and will not be prorated on the Closing
Date
(P) TITLE DEFECTS:
In the event that a title defect is discovered by Buyer prior to the Closing Date, Buyer shall deliver written notice
of such defect to Seller and Seller shall be entitled to a thirty (30) day extension of the Closing Date to resolve
any such title defects or other title Issues. ThiS additional thirty (30) day period shall be referred to as the
"Extended Closing Period" If, within the Extended ClOSing Period, Seller determines that it IS unable or
unwilling, in Seller's sole discretion, to resolve such matters, Buyer shall elect to either (i) take title to the
Property In its then state without any reduction In the Sale Price, thereby waiVing any and all title objections and
any other claims against Seller, or (II) terminate the Agreement and receive a refund of the Deposit. Buyer
acknowledges and agrees that Buyer's remedy In clause (II) above shall be Buyer's sole and exclusive remedy
against Seller for Seller's election not to remove a title defect and/or Inability to deliver clear and Insurable title
to Buyer at the clOSing
(0) LEAD-BASED PAINT INSPECTION:
) LEAD-BASED PAINT CONTINGENCY: IV A
Buyer's 0 tion to close this transaction is contingent upon Buyer conducting a risk assessment or inspec' n
of the Property presence of lead-based paint and/or lead-based paint hazards, at Buyer's so t and
expense, on or before .m (EST) on the date ten (10) days from the date of the A r nt (the "LBP
Test Period"). Intact lead-base 'nt that is in good condition IS not necessarily a h please see the EPA
pamphlet ''Protect Your Family From L: Your Home" for more Informatio is contingency will terminate
at the expiration of the LBP Test Period unles er delivers to Sell en notice listing the specific existing
defiCienCies and corrections needed, together with a c f spection and/or risk assessment report. prior
to the expiration of the LBP Test Period. Seller may. so cretlon. within ten (10) days after delivery of
such notice. elect in writing to correct the co (s) prior to the Date. If Seller elects to correct the
condition(s), Seller shall, upon comple . the correction(s), furnish to Buy jfication from a risk assessor
or Inspector demonstrating tha condition has been remedied. If Seller does not to make the repairs or
If Seller counter-offers notice, Buyer shall have five (5) days to respond to any such c r-offer or elect
to waive thiS c ency and close the purchase of the Property in ItS "as IS" condition Without any ction in
the Sa ceo or the Agreement shall become VOid and the Deposit shall be refunded to Buyer. Buye
e thiS contingency at any lime Without cause at Buyer's sole election.
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(_)/(_) WAIVER OF LEAD-BASED PAINT INSPECTION PERIOD; SELLER'S
REPRESENTATIONS:
Buyer acknowledges that It has had the opportunity to undertake studies, Inspections or investigations of the
Property as Buyer deemed necessary to evaluate the presence of lead-based paint and/or lead-based paint
hazards on the Property To the extent that Buyer has waived or otherwise declined the opportunity to
undertake such Inspections and investigations as a condition to the completion of the transaction under the
terms of the Agreement, Buyer has knOWingly and voluntarily done so Buyer understands and acknowledges
that the Property may have been built prior to 1978 and lead-based paint and/or lead-based paint hazards may
be present on the Property. In accordance With the Section 1018 of TItle X, the Residential Lead-Based Paint
Hazard Reduction Act of 1992, attached to this Addendum as Exhibit "H" and made a part hereof, Seller
attaches the Disclosure of Information on Lead Based Paint and/or Lead-Based Paint Hazards Lead Warning
Statement. Seller shall have no responsibility or liability with respect to any such occurrence of lead-based
paint. It IS understood by the parties that Seller does not make any representation or warranty, express or
Implied, as to the accuracy or completeness of any information contained In Seller's files or in the documents
produced by Seller or ItS agents, Including, Without limitation, any environmental audit or report. Buyer
acknowledges that Seller and Seller's affiliates shall have no responSibility for the contents and accuracy of
such disclosures and Buyer agrees that the obligations of Seller In connection with the purchase of the
Property shall be governed by the Agreement Irrespective of the contents of any such disclosures or the timing
or delivery themof
~J~.u
Seller's Irlltlals
Page 7 of 14
Buyer's Initials
(R), CLOSING DATE / TIME OF THE ESSENCE:
The parties agree that time is of the essence with respect to all dates specified in the Agreement Accordingly,
all deadlines are Intended to be stnct and absolute. IR lI:'le e"el'lt iiiilol)'er filllQ te IIll1Ge tl;!e trill'lGliletilWR IilR till.
G!QiiInS gate tRr81:l~l;! Fol9 f:;jl..llt Qf S'ilIlQl:4 Seller may, In its discretion, elect to extend the Closing Date for up t~
ten (10) days. f.R, tr~ o\Jont BAIIAr vgrppc;: tn p)(tAnrl thp r:ln~lnQ n;:Jtp Rll)/pr ~h:lll P~)I in ~rlrliti"n tn t!;;]9 ,~~
~riC''il, (i) a $:!QQ.QQ fgg for .my ii'I('f;.j tt:l'il9xt~t.lt:IQrJ, .lRQ (ii) 4l filQr Q18r+l [illWRGllty @f g1ggQQ (g1eQ90 ~(;Jr Eliefl'l ij.
U:Ua.i~'" ('Ollir off""r) far ""',h..c!"'y th",j tl-]"" CI"<::ing Date i') "yt"''ld~d 'ip to 01 r:TlWlxir+ll,dr-J;l Qf tlilrJ (10) d.y.,
E
_ --w
Buyer assumes all liability in providing all necessary information to Buyer's Lender. Furthermore, Buyer shall
Instruct Buyer's Lender and Buyer's attorney to work in conjunction with the brokers to ensure a timely closing.
The broker, and co-broker (if applicable), shall assume all responsibility for follow-up with Buyer, any lender or
mortgage representative Involved in financing thiS transaction, and either party's attorney and/or title company
to ensure that there is no delay In clOSing. Buyer Will not be given possession and may not occupy the Property
prior to the clOSing and disbursement of sale proceeds
(S) NO ALTERATIONS PERMITTED WITHOUT PRIOR CONSENT:
Buyer shall be In default under the Agreement In the event Buyer occupies or alters the Property or permits the
Property to be altered Without the prior written consent of Seller. Upon any such default. Seller shall have the
right to retain the DepOSit pursuant to Paragraph K of this Addendum and Buyer shall be reqUired to return the
Property to ItS Original condition, at ItS sole expense, If Seller shall request such action In writing Further, upon
any such default. Buyer waives any and all claims for damages or compensations for improvements made by
the Buyer to the Property including, but not limited to, any claims for unjust enrichment
(T) TERMINATION OF THE AGREEMENT:
In the event the Agreement is terminated pursuant to any provision of the Agreement which requires the
DepOSit to be refunded to Buyer, or In the event Seller defaults or is otherwise unable to or elects not to perform
the Agreement, Seller's sole liability to Buyer, and Buyer's sole and exclusive remedy, will be to return the
Deposit to Buyer, at which time the Agreement shall terminate and neither Seller nor Buyer shall have any
further obligations, liabilities or responsibilities to one another under the Agreement, except for those provisions
which the Agreement expressly provides will survive the expiration of termination of the Agreement. The Buyer
waives any claims that the Property IS unique and the Buyer acknowledges and agrees that return of its earnest
money deposit adequately and fairly compensates the Buyer
(U) SEVERABILITY:
If any provIsion of thiS Addendum shall be prohibited by or invalid under applicable law, such provision shall be
ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of the
Agreement
(V) RELEASE:
In consideration of the sale of the Property to Buyer and Seller's agreement to pay the title examination
fee and the premium for the title insurance policy, receipt of which is hereby acknowledged, upon the
effective date of the Agreement, Buyer hereby releases and agrees to, hold harmless and forever
discharge Seller, as owner of the Property, and its affiliates, officers, servicers, contractors, employees,
agents, brokers successors and assigns, from any and all claims, liabilities, or causes of action of any
kind that Buyer may now have or may have at any time in the future arising out of the Agreement,
Neither the Seller nor its affiliates, officers, servicers, contractors, employees, agents, brokers,
successors and assigns shall be liable to the Buyer for any damages of any kind (other than a return of
the Deposit when expressly required by the Agreement) as a result of the Seller's default under the
Agreement or Seller's failure to sell and convey the Property. Buyer further expressly waives, to the
fullest extent permitted by law: (a) the remedy of specific performance on account of Seller's default
under the Agreement or Seller's failure to sell and convey the Property for any reason, (b) any right
otherwise to record or file the Agreement or a memorandum thereof, a lis pendens or a notice of
pendency of action or similar notice against all or any portion of the Property, (c) any right to invoke
any other equitable remedy that may be available that, if invoked, would prevent Seller from conveying
the Pmperty to ~Jrd party buyer; (d) any and all claims arising from any agreed to adjustments or
Buyer's Initials ___' Seller's Initials
- ------- Page 8 of 14
prorations or errors in calculating the adjustments or prorations that are or may be discovered after
closing; (e) any trial by jury in any litigation arising from or connected with or related to the Agreement;
(f) any claims or losses Buyer may incur as a result of construction on, repair to, or treatment of the
Property, or other defects, known or unknown, apparent or latent, which may now or hereafter exist
with respect to the Property; (g) any right to avoid this sale or reduce the price or hold Seller and its
affiliates, officers, servicers, contractors, employees, agents, brokers, successors and assigns
responsible for damages on account of the marketability, habitability, serviceability, profitability,
insurability or condition of the Property, lack of suitability or fitness of the property for a particular
purpose, or defects, apparent or latent, in the Property; (h) any claim arising from encroachments,
easements, shortages in area or any other matter which would be disclosed or revealed by a surveyor
inspection of the Property or search of public records; and (i) any right to recover special,
consequential, or punitive damages whatsoever, whether in contract, tort (including negligence and
strict liability), or any other legal or equitable principle, including, but not limited to, any cost or
expense incurred by the Buyer in selling or surrendering a lease on a prior residence, obtaining other
living accommodations, moving, storage or relocation expenses, or any other such expense or cost
arising from, or related to, the Agreement or a breach of the Agreement.
event Buyer breaches or disregards, or attempts to disavow, any of the waivers or r
described 0 lated under this Paragraph V, in addition to all other d r remedies to
which Seller and its affiha servicers, contractors , agents, brokers successors
and assigns may be lawfully entitled, Buye reasonable attorneys fees and costs incurred
by the Seller in (i) seeking rea' , or enforcement of an 'ver or release, or (ii) defending
any action in' . e Buyer for the purpose of or relating to any su disregard or
wal.
IlL
(W) OCCUPANCY STATUS OF PROPERTY:
The Buyer acknowledges that neither the Seller. nor its representatives, agents or assigns, has made any
warranties or representations, express or implied, relating to the existence of any tenants or occupants at the
Property. The Seller. ItS representatives, agents or assigns, shall not be responsible for evicting or relocating
any tenants, occupants or personal property at the Property prior to or subsequent to clOSing
The Buyer further acknowledges and agrees that (i) the Seller IS not holding any security deposits from former
or current tenants and has no Information as to such security deposits as may have been paid by the former or
current tenants to anyone, (ii) no sums representing such tenant security deposits shall be transferred by the
Seller to the Buyer as part of this transaction, and (iji) the Buyer hereby assumes all responsibility and liability
for the refund of such security deposits to the tenants pursuant to the proVisions of applicable laws and
regulations.
wled es that this Property may be subject to the provisions of local rent con
regulations. The Buyer the closjn mgs and other duties and
responsibilities of a ro r , InC U In , ose roceedings required for
I such local rent control ordinances and regulations, will be the Buyer's so
~
in Alabama, Buyer understands that the Property may be sub'ect
prior owner upon payment of certain su e roperty.
consult With an altorne t e Import and impact of the foregOing.
against Seller In the event the right of redemption IS exercised
Buyer IS adVised to
I have
w
If the PfClperty IS located In a jurisdiction that requires a certificate of occupancy, smoke detector cer n,
septic certl or any similar certification or permit ("Certificate of Occupancy") or any f Improvement
or repair to the Propen such Certificate of Occupancy necessary for t erty to be occupied, the
Buyer understands that the Seller r the Certificate of Occ 0 be obtained by the Buyer at the
Buyer's sole cost and expense. The Buyer shal n t to delay the clOSing due to the Buyer's failure
or inability to obtain any reqUired Certifica ccupancy. of the Buyer to obtain and furnish the
Certificate of Occupancy by the ate shall be a material default 0 reement by Buyer entitling
Seller to retain the D s liqUidated damages under Paragraph K. Further, Buyer WI u y, or cause
or permit 0 occupy, the Property after clOSing unless and until any necessary Certificate of
een obtained from the appropriate governmental entity
(Yf
1J
"-
Buyer's Inltlalo;
Seller's Initials
Page 9 of 14
(X) PERSONAL PROPERTY:
Items of personal property, including but not limited to, window covenngs, 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. Any personal property at or on the Property
may be removed from the Property prior to or after the ClOSing Date. The 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 The Buyer assumes responSibility for any personal property remaining on the
Property at the time of closing
(Y) MODIFICATION/WAIVER:
No provision, term or clause of the Agreement shall be revised, modified, amended or waived, except by an
instrument in writing signed by the Buyer and the Seller. 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.
(Z) COUNTERPARTS:
The 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. Copies of documents or
signature pages bearing original signatures shall constitute and be treated as, an original signed document or
counterpart, as applicable
(a a) ATTORNEY REVIEW:
Buyer acknowledges that Buyer has had the opportunity to consult With its legal counsel regarding the
Agreement and that accordingly the terms of the Agreement are not to be construed against any party because
that party drafted the Agreement or construed in favor of any party because that party failed to understand the
legal effect of the proviSions of the Agreement.
(bb) NOTICES:
All notices from one party to the other must be in writing and are effective (i) when hand-delivered at, or
transmitted by facsimile or electronic transmission properly addressed to the party and/or the party's broker,
agent or attorney as indicated In the signature blocks below: or (ii) if mailed, when received or the next day if
mailed via overnight delivery or three days after mailing via certified mail, return receipt requested properly
addressed to the party and/or the party's broker, agent or attorney as indicated in the signature blocks below.
(cc) INDEMNITY:
shall protect, defend, Indemnify and hold the Seller Indemnities harmless from and against all
losses, cos nses (including attorneys' fees and actually incurred court costs), claim am ages to the
extent anslng out of or directly or Indirectly) to: (a) the Imposition of or penalty Imposed by any
governmental entity resulting from r's failure to timely ob ertificate of Occupancy or to comply 1l
With equivalent laws and regulations; (b) claims ue and owed by the Seller for real property taxes,
. -
homeowner's aSSOCiation dues or ass , or any 0 s prorated at closing, if any, under the
Agreement, including any pe Interest and other charges, arising roration of such amounts for
which the Buyer re a credit at closing under the Agreement: (c) the Buyer or t 's tenants, agents
or repre ves use and/or occupancy of the Property prior to closing and/or issuance of require - ates
ccupancy; or (d) the breach by Buyer of any of the terms and conditions of the Agreement.
(dd) ENTIRE AGREEMENT:
rhe Agreement Including all oHler disclosure forms or notices reqUired by law, constitutes the entire agreement
between the Buyer and the Seller concerning the subject matter hereof and supersedes all prevIous
communications. understandings, representations, warranties, covenants or agreements. either wntten or oral
and there are no oral or other written agreements betwoen the Buyer and the Seller. No oral promises,
representations warranties or agreements, expressed or implied, made by the Seller and/or brokers or any
person acting on behalf of the Seller shall be deemed valid or binding upon the Seller, unless expressly
f)}/
Buyer's Initials.
Seller's Initials
Page 10 of 14
Included In the Agreement. All negotiations are merged Into the Agreement.
IN WITNESS WHEREOF. the Buyer and the Seller have entered into this Addendum as of the date
first set forth above The underSigned represents and warrants that he/she is authorized to enter into the
Agreement and bind the party for whom he/she signs to perform all duties and obligations stated in the
Agreement
Seller: AMERICAN HOME MORTGAGE SERVICING, INC,
AHMSI
Date:
* ~ 5/a~;I4T()j!E;196&- /f7T"~ ~70:
Buyer:
Name Printed: Collier County A political
subdivIsion of the State of Florida
Buyer:
Name Printed:
Name Printed: Carter Wheeler
Listing Broker:
Selling Broker:
Notice to Seller:
Fax
[mail
Name Printed:
Notice to Buyer:
Fax
Emall
Seller's Broker/ Agent! Attorney
Buyer's Broker/AgenVAttorney
Fax: _____________________
Email:
Buyer's Inl!lals
Fax _ _____
Email:
~)~
Seller's Irlltlals
Date:
Date:
[)ate:
Date:
~
Page 11 of 14
Project: Neighborhood Stabilization Program
Folio Number: 36308680002
Property Address: 5352 23rd CT SW
SUBSTITUTE SIGNATURE PAGE
Date Property acquisition approved by BCC: March 24, 2009, Item 10F
,
''; f .
Approved as to form and
legal sufficiency:
~-bu~
Jen r B. White
Assistant County Attorney
BOARD OF COUNTY COMMISSIONERS
COLLIER C UNTY, FLp~IDA
~ :J'~
iala, Chairman
FINANCIAL TERMS ACKNOWLEDGEMENT
Final Contract Date:
AHMSI REO No,:
Buyer Name:
Property Address:
Planned Close of Escrow Date:
Sales Price:
Financing Type:
Earnest Deposit:
Down Payment:
Loan Amount (net):
PeFgie~:
llli:iO:U~O Ca./ /':L/-::Z-DO:J
0019922855
Collier County A political subdivision of the
State of Florida
5352, 23RD CT SW, NAPLES, FL 34116
07/16/2009
$55,000.00
Cash
$1,000,00
$55,000.00
$0.00
iii QQ-
A!L
11
To be paid by Buyer to closer in advance of any written extensions by Seller
Current Property Taxes
a) Periodicity of Taxes: Annual
Next Due date: 11/30/2009
Requested Closing Costs Paid by Seller on Behalf of
Buyer
(Limited to loan guidelines)
Origination Fee:
Escrow:
Title Fee:
FHANA Allowable Costs:
Non FHA / VA Buyer Closing Costs / Prepaids:
FHAN A Non Allowable Costs:
Current Property Taxes:
Property Transfer Taxes:
Home Protection Policy:
TOTAL:
Requested Repairs
By Buyer/Lender:
Fumigation/Chemical only:
Termite Repairs:
Pest Report Fee:
TOTAL:
BUYER(lnitials)
[)f
SELLER(lnitials)
Buyer's Initials:
!)f
Seller's Initials:
$0,00
$0,00
$0,00
$0.00
$0,00
$0.00
Annual
$0.00
$0,00
$0.00
$0,00
$0,00
$0.00
$0,00
$0,00
Page 12 of 14
CLOSER
Company Name The Law Offices of David J Schneid, PA
Phone 561-391-9141
Contact person: DavidSchneid
Fax 561-391-9745
TITLE COMPANY
Company Name:
Phone
BROKER INFORMATION
Listing Agent: Carter Wheeler
Company: Amerivest Realty
Contact person:
Fax
Phone 239-877-7626
Fax 239-687-4141
Selling Agent: Teddianne Wantz
Company
Phone. 2392538458
Fax:
Total CommisSions 60% or $3.30000
Agent Bonus. $0.00
BUYER(lnitlaIS)~f_ _____
SELLER(lnitials)___
Approved as to form I$" lag.ai sufficiency
~4>-.,"-"J~
~ ctfijnty lAtiOrney
5'i:..~yV\F(J2.. <2>. W~\\<i.
Buyer's Initials
~j
Seller's Initials.
fJage 13 of 14
AFFILIATED BUSINESS
ARRANGEMENT DISCLOSURE
NOTICE
Colli~r ('ounl)' ^ politi~aJ subdlv ISIOIl 01' Ih~ Stat~ of Florida
5352. 23IW CT SW
l)at~:
nmnk youltH >ckv Il" :'\IIVlSI ILl C 10 ""1>1 In Ih~ purchas~ or saie' of your home 01 olli~r prop~r1y W~ look forward 10 s~rYJng
I hIS " III ','11 C' yUU "Ilh II ~c thai .'\ II \1\1 I I I I has" husln~'s 1'<:lallonshlp \\ Ith I'ro'p~~1 'vlurtgag~. LIe. as a 1ll~l1lb" )1' Prosp~~t
:Vl,}r\g""e. I II. \I 1111,1 ":ill"" l~r~'I" III the Upcr:lting DIVISIOn klHmn ii' '-Prospect '\10rlgag~, I.LC" Be~aus~ oflhl.' allonshlp, this
r,'lnr:d Ill"\ pruv Ilk .\II\lSI I I a 1'1II,1I1<:lal or olhL'r bL'Il~J'i1 Set fl)rth bdo\\ is thy' e'lllllal~d ~hargl' or riln of ~harg~s for th~
sctlklll,'1l1 ,ct\ IC,'., IlSled. .., 011 :Ire I r~qllir~d III liS" lh~ IISkd plll\ Ider as a condllion lor s~t1km~nl or _ our loan on th~ subJ~~t
prop,'lly
IIILRI ,\RI I'RU)lI \iTLY OII1IR SIII\l1I VI SLRVlell'!W\'IDI.RS A\\II
ARI' I'RU I U SIIUI'\I{()L"'D J U IJI IIR. :'\i/II/\ J YUl.\RI RH 1-1\ INlillll.
FUR IIIESI sLln In.s
DatL'
COIII~~ County A politIcal SUbl!ivislOn~'th~ Stat~ of ~~?r~Ll.~
so
~O
'ill
N/fr
1L
SI.TI 1.I:1\-1I.'\iT SI.R VICE
I.oan (lngination
I.oan Doculllent Pr~paratlon
Unlkr,^,riltn[.'
P:.Ul:l....',:-;lng.
roulldlng.
l\dlllJllIstr:\lIl.Hl h:l'
1.1\ 'sC> \ IL'C /',,'
St,)
.\cklluwlcdgmellt I 1lI1lkrsland allh,' pro\ Id~r ollhe :Ibm" SL'llklll"nt sen l~eS IS I'ro>p~~1 rVlortgag". ('
,'\IlMSI I LIC llIay Inal1elal 01 ulh~r hendlt ill opt to ohlaln finanCIng lor Ihe suhJeL! pmp~ny 11
JJe
''Ill' ,nt!~ .If dlill}l'.'; .ill' I'ur pnrn~ll1l'l1! r lfsl 1111';[ !)wd.l;rslv1orl~..l!!.'; IU.llIS fur qa.dl ~'Il'd h'JIT~)\Vl'rs, Sl."i...'ulltl Tr\l~l Ik\:d. .\IUI'lga~,,;. sun prlllle. ,;llllsln:(llon
n trLldlllllllJ; ltJdli"; 111;1\ ':,\\.'l'l~d thL' ~d)U\l' rat1i_'" .wd \\nth_'ll dl,"'llbllll"S ~1t'l's[lllJah:d i,,',,'\ wili b.., pf'll\ltkd I '111dl Jlllll"lllg J.l~lld\.'rO:\(r,' (JfJ
,../'~
1) l{ ( ) S I) L ( ~, I'
Buyer's Initials
~)
Seller's Initials
Page 14 of 14