As Is Contract for Sale and Purchase
l' ("Seller"),
2'
3
4
5 LOT 9, BLOCK 223
6' County, Florida:
r
8'
9
10
11'
12* Not applicable
13' Items of Personal Property (and leased items, if any) excluded are:
14'
15* II. PURCHASE PRICE (U.S. currency): . . , . . . , . . . . . , . . . . . . , . . . . . . . . . . . . , . . . . . . . . . . . . . . . . , . . . . , , . . . $ $103,550.00_
16 PAYMENT: NA N/A
17* (a) Deposit held in escrow by _("Escrow Agent') in the amount of (checks subject to clearance) $
18' Escrow Agent's address: NA Phone:_ NA N/A
19* (b) Additional escrow deposit to be made to Escrow Agent within ---D.lcL'days after Effective Date in the amount of. . . $
20* (c) Financing in the amount of ("Loan Amount") see Paragraph N below . . . . . . : . . . . . . . . . ' . . , . . . . , . . . . . . . . . . . . . , . . . . $
21 * (d) Other. . . . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . . , . . . . ........................,.......... . $
22 (e) Balance to close by cash, wire transfer or LOCALLY DRAWN cashier's or official bank check(s), subject $ $103,550.00_
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26* before 10 days from counteroffer , the deposit(s) will, at Buyer's option, be returned and this offer withdrawn.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, ;f applicable, the final counteroffer.""Oeposit due within 10 days of Effective date.
31 IV. FINANCING: Counteroffers included any Addenda submitted after either party signs.
32' )( (a) This is a cash transaction with no contingencies for financing;
33' o (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 Of 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 I/.(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 reql!ires a condition related to the sale of other property shall
39 not be deemed Loan Approval for purposes of this subparagraph. Buyer shall pay aM loan expenses. Buyer authorizes the mortgage broker(s) and
40 lender(s) 10 disclose information regarding the conditions, status, and progress of loan application and Loan Approval to Seller, Seller's attorney,
41 real estate licensee(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") 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: (i) 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* o (c) Assumption of existing mortgage (see rider for terms); or
52' o (d) Purchase money note and mortgage to Seller (see "As Is" Standards Band K and riders; addenda; or special clauses for terms).
53' V. 1/TLE EVIDENCE: At least _ days Of 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) shaff be obtained by:
55' (CHECK ONLY ONE): X ~1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney; or
56* (2) Buyer at Buyer's expense.
5?' (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 shall be closed and the closing documents defivered on _ OCTOBER 23,2009 ("Closing'?, 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 (il) 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.
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62 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller sholl convey marketable title subject to: comprehensive lond use plans, zoning,
63 restrictions, prohibitions and other requirements imposed by govemmental outhority; restrictions and matters appearing on the plat or otherwise
64 common to the subdivision; outstanding oil, gas and minerdl rights of record without nght of entrj; unplatted public utility easements of record
65 (Iocoted contiguous to real property :ines and not more than 10 feet in widtll 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 there exists at Closing no violation of the foregoing and none prevent use.of the Property for NEIGHBORHOOD
68* STABILIZATION PROGRAM 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 before 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 0 may assign and thereby be released from any further liability under this Contract; ~:J may
76* assign but not be released 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 Iien(s) imposed by a public body ("public body" does not include a
79 Condominium or Homeowners' Association). Such Iien(s), if any, whether certified, confirmed and ratified, pending, or payable in installments,
80* as of Closing, shall be paid as follows: ell by Seifer at closing 0 by Buyer (if left blank, then Seifer 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 (0 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) PROPERlY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERlY TAXES AS THE AMOUNT
94 OF PROPERlY TAXES n--t4T THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNER-
95 SHIP OR PROPERlY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY n--t4T COULD RESULT IN HIGHER PROPERTY TAXES.
96 IF YOU HAVE NN QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION.
97 XII, MAXIMUM REPAIR COSTS: DELETED
98* XIII. HOME WARRANTY: Q Seller 0 Buyer ~ N/A will pay for a home warranty plan issued by
99* at a cost not to exceed $ u.uu
100* XIV. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have ~ days from Effective Date ("Inspection Period") within
101 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
106 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
108 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
110 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* o CONDOMINIUM o VNFHA o HOMEOWNERS' ASSN. G!J LEAD-BASED PAINT o COASTAL CONSTRUCTION CONTROL LINE
113* o INSULATION 0 EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions 0 Addenda
114* Special Clause(s): SELLER AGREES TO EXECUTE BUYER'S FORMS GAP AFFIDAVIT. PUBLIC DISCLOSURE
115* AFFIDAVIT, SPECIAL WARRANTY DEED AND SUBSTITUTE W-9. SELLER WILL DELIVER THE COMPLETED AND
116' SIGNED W-9 TO BUYER SIMUL TANEOUSL Y WITH THE SIGNED CONTRACT.
117*
118* SELLER WARRANTS PROPERTY IS VACANT AND SHALL REMAIN SO THROUGH CLOSING TO COMPLY WITH THE REQUIREMENTS OF THE
119* NEIGHBORHOOD STABILIZATION PROGRAM.
120*
121 * STANf1ARDS B, F AND Y ARE DELETED. DUE TO BUYER BEING A COUNTY GOVERNMENTAL ENTITY WITH SPECIFIC GUIDELINES AND
122* PROCEDURES, SELLER ACKNOWLEDGES THAT STANDARD S IS HEREBY DELETED.
123* STANDARDS D AND N ARE DELETED,
-~--~--"- ---
124*
125*
126 XVI. "!'S 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.
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1~8 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
129 SEEK THE I\DVICE OF AN ATTORNEY PRIOR TO SIGNING.
130 THIS "AS IS" fORM HAS Bi:EN ;\PPROVED BY THE FLORIDA ASSOCIATION OF REflHORS" /\NO THE FLORIDA BAR.
131 Approval does not constitute an opinion that any of trlG terms and conditions in this Contract should be accepted by (he parties in a
132 particular transaction. Terms and coneiitions 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.
135* ..SEE SIGNATURE BLOCK BELOW
136 (BU OAI~ (SELLER) (DATE)
137*
138 (BUYER) (DATE) (SELLER) (DATE)
139* Buyers' address for purposes of notice Real Property Manaqe Sellers' address for purposes of notice
140* 3301 Tamiami Trail East, Bldq. W, Naples, FL
141* (239) 252-8991 Phone Phone
142 BROKERS: The brokers (including cooperating brokers, if any) named below are the only brokers entitled to compensation in connection with
1 43 this Contract: RElMAX REAL TV SELECT
144 * Name: PERFECT PROPERTIES OF NAPLES, FL _
145 Cooperating Brokers, if any Listing Broker
Date Property acquisition approved by BCC:
March 24, 2!J)9, 11m 10F BUYER:
DATED: C). ii, ZOOCl
ATTEST: '.
DWIGHT H..BROGK, Clt?[k
\ . .
~ !tf~(~~~?~C.
. t,..t.,.." _tit' ~.
l', ~
., ,\ .
Approved as to form' and
legal sufficiency:
~ 1)'""\0 ~
CJ. ill \', County Attorney
PROPERTY ADDRESS: .5410 26TH AVE SW NAPLES, FL 34116
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146 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS
147 A. TITLE INSURANCE: Tile Title Commitment shall be issued by a Florida licensed title Insurer agreeing to issue Buyer. upon recorrjing of the deed 10 Buyer,
148 an owner's poLey at title Insurance ,n tile amount ot the purchase price, insurtflg Buyer's marketable Idle to ltle Real Property, sublect only 10 matlers contained
149 in Paragraph VII and those to be ,jischarged by Seller at or before Closing. Marketable title Sh311 be determined according to applicable Title Standards adopt.
150 ed by authoflty of The Florida Bar and In accorciance With law. Buyer shall have 5 days from date of receiVing the Tille Commitment to examine ii, and it title IS
151 found defective. notify Seller In writing specifying defect(s) which render title unmarketable. Seller shall have 30 days trom receipt of notice to remove the
152 defects, falling which Buyer sllall, within 5 days after expiration of the 30 day penod. deliver written notice 10 Seller either: (1) extending the lime for a reason.
153 able pertod not 10 exceed 120 days Within which Seller shall use diligent effort to remove the defects: or (2) requesting a refund of deposlt{s) paid which shall
154 be returned to Buyer. If Buyer fails 10 so notify Seller, Buyer shall be deemed to have accepted the title as it then IS. Seller shall, If !ttle 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 fhe defects, Buyer shall either waive the
156 defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all hJrther 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,
160 SECURITY AGREEMENT TO SELLER:
161 Lines 159-168 DELETED
162
163
164
165
166
167
168
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 fled 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 Paraqraph VII hereof and title to the Real prooertv is InsllrFlhle in accordance with "AS IS" St;tnrlfm1 A without exception for lack of legal right of access.
175 F. LEASES: Lines 175-179 DELETED
176
177
178
179
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 mate'ialmen in addition 10 Seller's lien affidavif setting forth the names of all such gen-
184 eral contractors, subcontractors, suppliers and materialmen, further affirming that all charges for improvements 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 at the office of the attorney or other closing agent ("Closing
187 Agent") designated by the party paying for title insurance,
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 .11 legal holidays shall be excluded. My 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 retated 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 shaD have the option of taking over existing policies of insurance, ff assumable, in which event premiums shall be prorated. Cash at Closing shall be
200 increased Dr 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 0, 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
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218 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)
219 closing procedures srlilll Jpply: (1) all clOSing proceeds shall be Ilolrj In escrovl by trio Closing I\genl for a periorj 01 not moro than 5 dilYS af10r Closing; (2)
220 If Seller's lilies rendered unmarkel21Jle, throu9h no fault of Buyer. Buyer shall, Vlllhln Ihe 5 day peflod, notify Seller In wntjng of the defect and Seller shall
221 have 30 days from date of receipt of such nollflcatlon to cure the defecl; (3) If Seller fads 10 Ijrnely cure the defect, illl deposits and closing funcjs shall. upon
222 written demand by Buyer and within 5 days after demand, be returned to Buyer and, slmullaneously with such repaynlent, Buyer shall return ale 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: ,A.ny Closing Agent or escrow agent (collectively "Agent") receiving funds or equivalenl 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 determne 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 sLlch 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 lIems 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 incLlrred 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 liti-
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: Lines
242 241-246 DELETED
243
244
245
246
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) SeJler 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 Properly, 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 ilems 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 assiqnable repair and treatment contracts and warranties to Buyer at Closing.
267 y, 1031 EXCHANGE Lines 267-270 DELETED
268
269
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-2 Rev. 9/07 (id 2007 Florida ASSOCiation ot RU,uoHs" and The Florida B3r All RigtllS Reserved Page 5 of 5
ADDENDUM TO PURCHASE CONTRACT FOR VERICREST FINANCIAL LLC
Vericrest ACCOUNT NAME:
Vericrest ACCOUNT #
PROPERTY ADDRESS: 5410 26TH AVE SW NAPLES, FL 34116
BUYER'S NAME: COLLIER COUNTY, A POLITICAL SUBDIVISION
OF THE STATE OF FLORIDA
Purchase price to be . $103,550: "as is".
Seller shall pay$O.OO for concessions and/or closing costs,
Buyer will pay $ $0.00 for earnest money,
Seller shall not pay for inspections or repairs, unless otherwise approved by Seller in writing at a cost not
to exceed $0.00
Seller shall not pay for home warranty, unless otherwise approved by Seller in writing at a cost not to
exceed $0.00
Seller will not pay for termite inspections or treatment, unless otherwise approved by Seller in writing at a
cost not to exceed $0.00
Seller will not pay for surveyor appraisal, unless otherwise approved by Seller in writing at a cost not to
exceed $0.00
Seller shall not pay for Owner's title insurance, unless otherwise approved by Seller in writing at a cost
not to exceed "prevailing rates".
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 limitations the right of specific performance.
Seller shall not pay any per diem.
Seller shall not pay any fee for termination option clause.
This is an "as-is" sale and Buyer waives all representations and warranties, expressed or implied as to the
condition of the Property and agrees that Seller has not made any 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.
Inspections to be completed within 5 days of delivery of the executed contract.
This addendum will supersede the purchase agreement, and any counters, but not the Nations REO
Addendum.
Seller's name is Vericrest Financial Inc. and or its assignees,
Buyer: SEE ATTACHED SUBSTITUTE EXECUTION PAGE
Buyer: Date:
Seller: Date:
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26th AVE SW, Naples, FL 34116
Folio Number: 36384240000
SUBSTITUTE EXECUTION PAGE
Date Property acquisition approved by BCC: March 24, 2009, Item 10F
AS TO PURCHASER:
DATED: 9/lcflUJo1
ATTEST: ,_, BOARD OF CO NTY COMMISSIONERS
DWIG. .~J\~"B~%~,. c~rk COLLIER C , FLORIDA / _
~~ ~..~ ~ <:>'I~
:: . ,: ',t1 lerk la, Chairman
.. .. ~,...- .
,tjll,..'.f'
Approved as to form and
legal sufficiency:
~1?:>u~
Jenm r B. White
Assistant County Attorney
- Addendum to Contract:
Property Address: 5410 26TH AVE SW NAPLES, FL 34116
1. Price of Property and Terms as to above, Purchaser accepts the property in "AS IS. condition at the time of
closing including any hidden defects known or unknown, PURCHASER ACKNOWLEDGES THAT NEITHER
SELLER NOR ITS AGENTS HAVE MADE ANY REPRESENTATIONS OR WARRANTIES, IMPLIED OR
EXPRESSED, RELATING TO THE CONDITION OF THE PROPERTY.
2. Initial Earnest Money deposit to be as per above. Ernest Money to be held by Listing or Closing agent. Unless
otherwise agreed to, Seller will not make any repairs to the property. Buyer to be responsible for any lender
required repairs. Buyer and Contractor(s) to sign Seller's hold harmless agreement prior to making any repairs,
Buyer's lender must provide list of lender required repairs to listing agent before any work can be started and
Buyers agree that only those lender required repairs specified can be completed prior to closing. All work
completed prior to closing must be specifically approved by Seller.
3, Settlement and Closing: The closing shall be determined by Nations REO, or Seller's designated title company
and the settlemenVcloslng shall be held in the offices of the Seller's attorney or agent or at a place designated
and approved by the Seller. Seller may benefit from bulk rate escrow discount. Buyer and Seller to pay all own
closing costs. In no event shall Seller pay both sides of the closing/settlement fee unless otherwise agreed to in
the offer. Closing shall occur on or before the _ OCTOBER 2:3,~OO9 _ and the Purchaser shall make
every effort to meet this deadline. Should the closing extend beyond this date, through no fault of the
Seller, Seller shall be entitled to a $150.00 (One Hundred Fifty Dollar and no/1oo) Per Diem fee for each
day of such. Said extension must be in writing and pre-approved by the Seller. Notwithstanding the
foregoing, it is understood and agreed that Seller shall retain the right to cancel Contract and pursue
remedies contained herein if the Purchaser falls to meet the stated deadline. The sale may not close in
escrow without the prior written consent of the Seller. Any extensions to the closing date must be approved in
writing by the Seller. The Seller reserves the right to continue to offer the herein described property for sale and
accept any offer acceptable to the Seller at any time prior to personal receipt by the Seller through written
confirmation. Seller's acceptance of another offer shall revoke this or any other pending offer. There may be
multiple offers pending, Seller's signature on the final accepted offer is deemed acceptance of that specific offer
only. (See #23 below for details on acceptance of offer)
4. Buyer Financed Offer: If buyer is obtaining financing on this property, a written pre-approval letter and Seller's
net sheet MUST be supplied with this offer. Seller does not agree to the loan terms as outlined in Buyer's offer.
Buyer to obtain a loan at best prevailing rate and terms. Buyer shall provide the Seller with written unconditional
loan approval within ten (10) calendar days of Buyer's acceptance of this offer. If any of the above conditions
have not been met, the Seller shall have the option to terminate this contract.
5. Cash Offer: Buyer to provide verification of sufficient funds (proof of funds) to close this transaction when
submitting offer. Seller's net sheet MUST be supplied with this offer.
6. FHA 203K terms (if applicable and unless otherwise agreed upon in terms of contract): Subject to 203K approval
and borrower's acceptance of any additional repairs as may be required by HUD or the lender, Buyer will pay
usual costs and charges as allowed by FHA including but not limited to: loan origination fee, credit report and
appraisal fees, premium and/or impounds for mortgage insurance, advance deposits for payment of taxes and/or
<meld.> Addendum to Contract Ver 1 04.24..09 Page 1
insurance, interim insurance as demanded by lender, AL TA title policy premium, recording fees, notary fees and
escrow fees not to exceed allowable amounts.
7. Standard FHA terms (if applicable and unless otherwise agreed upon in terms of contract): Seller will pay usual
costs and charges, including but not limited to, CL TA owners title policy premium, documentary transfer tax,
reconveyance and recording fees, escrow fee, lenders fees for documents, processing and tax service and all
others Buyer's usual charges which are not allowed to be charged to Buyer in compliance with FHA regulations,
including overage of Buyer's escrow fee, lender's non-allowable charges, including tax service contract, which
are not to exceed a total of amount outlined above. Seller will not pay any additional fees at close to cover
miscellaneous lender costs, shortages, or any lender required repairs. If Buyer is not allowed to pay these costs,
the sale price will be raised dollar for dollar to compensate said Seller, which will create an additional down
payment cash requirement for buyer. Buyer is responsible for any of these "excess. costs. Should Buyer receive
formal loan approval and should Buyer not be able to pay any "excess" costs at close, then the Buyer and Seller
agree that this contract may be terminated by Seller and Buyer agrees to irrevocably release any deposit monies
to Seller.
8. Standard VA terms (if applicable): Seller will pay usual costs and charges, including but not limited to: CL TA
owner's title policy premium, documentary transfer tax, reconveyance and recording fees, escrow fee, lender
fees for documents, tax service contract and processing service and all other Buyer's usual charges which are
not allowed to be charged to Buyer in compliance with VA regulations which will not exceed a total of the amount
outlined above. Seller will not pay any additional fees at close to cover miscellaneous lender costs, shortages, or
any required repairs. If Buyer is not allowed to pay these costs, the sale price will be raised dollar for dollar to
compensate said Seller, which will create an additional down payment cash requirement and/or an appraisal that
needs to be reviewed through VA to amend the sales price. Buyer is responsible for any of these "excess" costs.
Should the Buyer receive formal loan approval, and should Buyer not be able to adhere to the above, then Buyer
and Seller agree that this contract may be terminated by Seller, and Buyer agrees to irrevocably release any
deposit monies to Seller.
9. Buyer agrees to the following cancellation clause: In the event the conditions of this transaction have not been
complied with at the expiration of time provided her herein, due to the default of the Buyer, closing company
instructed to immediately prepare instructions to cancel this transaction showing funds on deposit being
disbursed to Seller, (Seller shall be the sole beneficiary of any eamest money deposit refunds). Closing company
shall mail these instructions to all parties for their signature by certified mail return receipt requested.
10, Keys to front door only will be provided if available, Possession will occur upon confirmation of recordation or
settlement, whichever occurs first.
11. Inspections are for Buyer's information only. Seller's listing agent is not to receiVe a copy of any formal
inspection reports. Upon signing this offer, Buyer states that he/she has thoroughly inspected the
property and releases inspection contingencies, and accepts the property In Its 'as is' condition. This
includes any inspections to the well and/or septic system (s) unless agreed otherwise in this offer. Buyer's
signature on final acceptance removes any and all inspection contingencies. Buyer warrants that they have seen
the property and agree to all conditions contained herein regarding the physical aspects of the property. No
inspections may be made by any building or zoning inspectors or government employee without the prior written
consent of Seller. Seller will not guarantee that utilities will be activated for inspection if inoperable. damaged or
unsafe. If property is winterized, Buyer is responsible for cost of dewinterizing and rewinterizing.
<filelcb Addendum to Contract Ver 1 04-24-09 Page 2
12. Upon execution of this offer, Buyer acknowledges that they have researched their ability to obtain suitable
insurance for themselves and the property as may be required by their lender or other entity. An inability to
obtain suitable insurance upon close is not to be considered a contingency of this contract. This includes, but is
not limited to, homeowner's, flood or any other required hazard insurance.
13. By executing this contract, Buyer is aware that this property may have been obtained through foreclosure or by
deed in lieu of foreclosure. Seller makes no representations, guarantees, or certifications throughout this entire
contract. Buyer is aware that as of the date of this contract, title may have curative issues which may remain
unresolved. Seller and/or Nations REO or Nations REO agent will attempt to cure any title issues that may arise
but will not be held liable for any damages incurred by the Buyer if the sale cannot be completed due to
unmarketable title. Buyer should seek the advice of an independent attorney and fully understand these issues.
Seller shall have a minimum of sixty (60) days from the earlier of the closing date or the date upon which Seller is
notified of any outstanding title issues or defect which in any way impede or impair Seller's ability to convey title
as required herein. If, within such sixty (60) day period, Seller determines that it is unable or unwilling, at its sole
discretion, to resolve such matters, then the Buyer may (i) may take title In its then state, thereby waving any title
objections, or (ii) terminate the contract and receive a refund of may deposit as Buyer's sole and exclusive
remedy. Seller's exercise of its right hereunder shall not require further notice thereof to Buyer. In the event
Seller fails to resolve such issues within the aforesaid sixty (60) day period, it shall be presumed that Seller has
determined that it is unable or unwilling to resolve such issues.
14. Survey: If a survey is a requirement for closing on this property by the Buyer or the Lender, the Buyer agrees to
be responsible for obtaining and paying for the survey unless otherwise agreed to in the offer. A survey is not a
condition of this transaction.
15. Buyer is responsible for verification of whether property is located in a common interest subdivision. If there is a
homeowner's association associated with the subdivision, Buyer to pay for any required HOA transfer fees, and
any required documentation necessary to Buyer's review and approval. Buyer to obtain, verify and accept actual
amount of homeowners association dues, along with the amount and location f applicable parking spaces, and/or
storage spaces.
16. Seller does not warrant the existence, transfer, condition or ownership of any personal property, systems or
fixtures, Seller reserves the right to terminate this contract and return deposit to Buyer due to property
destruction or damage if they choose not to make any repairs, regardless of the monetary amount involved.
Seller does not agree to assign any insurance proceeds to the buyer.
17. If required to close, Buyer to choose a licensed pest control company and is responsible for ordering inspection
and for providing clearance at close at no cost to the Seller, unless otherwise agreed to in this offer. If Seller
agrees to pay for any termite treatments of property, the treatments must be performed by a licensed termite
contractor and the cost must be capped at $500,00. Seller not responsible tor inaccessible areas. Buyer is
responsible for any excess costs, and all other Lender required repairs.
18. Buyer (s) to sign all additional addendum required by Seller which are to be made part of this contract.
19. Buyer may not occupy or control access to this property prior to closing and funding unless agreed to in writing
elsewhere in this offer. In the event Buyer alters the property or occupies the property or permits it to be
occupied by any other person prior to closing, the Seller shall have the right to declare buyer in default of the
Contract for Sale and Buyer's deposit monies and right to any improvements to the property shall be forfeited to
Seller. In addition, Buyer agrees to pay to Seller a penalty for trespass in the amount of $10,000.00.
<:fiteld> Addendum to Contract Ver 1 04~24-09 Page 3
20. Buyer agrees to indemnity Seller and fully protect, defend and hold Seller, its tenants, agents, employees and
contractors, harmless from and against any and all claims, costs, liens, loss damages, attorney's fees and
expenses of every kind and nature that may b sustained by or made against Seller or any damage to the
property or any adjoining property, or any injury to Buyer or any other persons that may result from or arise out of
inspections made by Buyer or its agents, employees and contractors prior to closing.
21. Seller makes no representations as to the property's compliance with any applicable building codes or zoning
ordinances. Any obligation of Seller to make repairs, upgrades and/or obtain a compliance certificate relating to
the property (such as certification/repairs relating to smoke detectors, water heater, bracing, retrofit, certificate of
occupancy, etc.) is assumed by the Buyer and shall not apply in the event the property is not In habitable
condition, unless otherwise required by law, Therefore, it is understood between the parties that the Buyer is
solely responsible, at the Buyer's own expense, to make necessary repairs/upgrades in order to obtain a
certificate of occupancy, smoke detector certificate, or any other compliance certificate required by the state,
county or local municipality, unless otherwise agreed to in the offer, Buyer must advise Seller of necessary
repairs and be granted approval with access to property to complete such repairs. All repairs must be completed
by and licensed contractor at Buyer's expense, Buyer will provide copies of any such certificate to Seller's
attorney/closing agent prior to closing.
22. Buyer warrants that this purchase agreement is not contingent upon the sale of any other real estate, unless
specifically disclosed or agreed upon by Seller. In the event a dispute arises between purchase contracts,
counter offers and this counter offer/addendum, this counter offer/addendum shall supersede and prevail unless
another addendum specifically claims superiority within the terms of that addendum.
23, Final approval Is subject to Seller's senior management review of the hard copy of this offer. Seller's
"live" signature on contracts Is deemed acceptance of that offer only. Fax signatures are not accepted
unless otherwise agreed. In the event Seller is unable, or unwilling to deliver a clear and insurable title to the
property prior to the close of escrow, the Seller, may, at its option, terminate this agreement without any liability
of any kind to Buyer and Seller, All earnest money deposits will be refunded to the Buyer.
24. The Buyer and Seller agree that all times for performance of this contract are OF THE ESSENCE, This means
that the Buyer and Seller must perform what is required of them within the time limits set by this contract or be in
default.
25. Risk of Loss: Risk of loss or damage to the property by fire or other casualty occurring prior to the time Seller
delivers an executed and acknowledged deed to Buyer is expressly assumed by Seller, Should the Property be
damaged or destroyed prior to closing, the contract shall be cancelled and earnest money returned.
26. Negative Sales Proceeds: It is agreed by Purchaser and Seller that if judgments, liens or assessments result in
negative sales proceeds to the Seller, the Seller reserves the right to cancel the contract and return any deposit
monies to the Buyer.
Purchaser's Acknowledgement
SEE ATTACHED SUBSTITUTE EXECUTION PAGE Date
Countersignature's Acknowledgement
<tileld> Addendum to Conrract Ver 1 04-24-09 Page 4
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26th AVE SW, Naples, FL 34116
Folio Number: 36384240000
SUBSTITUTE EXECUTION PAGE
Date Property acquisition approved by BCC: March 24, 2009, Item 10F
AS TO PURCHASER:
DATED: r;/1 / 'J-OO?
ATTEST: BOARD OF C UNTY COMMISSIONERS
DWIGHt' E. BROCK, Clerk COLLIER C TY, FLOd _
BY: ~ ~
,D Donna iala, Chairman
~. ~"'. to t~.
.t..... 01"
Approved as to form and
legal sufficiency:
~~"()~
Jen ' r B, White
Assistant County Attorney
Date
Seller's Acknowledgement
Date
<fileld> Addendum to Contract Ver 1 04~24-09 Page 5
RADON GAS and MOLD DISCLOSURE and RELEASE
COLLIER COUNTY, A POLITICAL SUBDIVISION
Printed Name(s) of Buyer(s): OF THE STATE OF FLORIDA
("Buyer")
Property Address: 5410 26TH A VENUE SW Naples,FL 34116
("Property")
MOLD INSPECTION: Buyer acknowledges that mold contaminants or other microscopic organisms may
exist in the Property, of which Nations REO, Inc. is not aware. These contaminants generally grow in places
where there is or may have been excessive moisture, such as where leakage may have occurred in roofs,
pipes, walls, plant pots, or where there has been flooding. These conditions may be identified with a typical
home inspection. Buyer is hereby advised to obtain a home inspection to better determine the condition of
the Property, In the event mold contamination is suspected, it is recommended that Buyer satisfy
himself/herself as to the condition of the Property by having a mold inspection performed, The cost and
quality of such inspections may vary. Companies able to perform such inspections may be found in the
Yellow Pages or on the Internet under "Microbial or Mold Inspections" or "Environmental and Ecological
Services."
RADON GAS, Buyer acknowledges that radon gas may exist in the property, of which Nations REO,
Inc, is not aware. Radon is an invisible and odorless gaseous radioactive element. Buyer is
encouraged to obtain the services of a qualified and experienced professional to conduct
inspections and tests regarding radon gas prior to closing. The cost and quality of such inspections
may vary..
RELEASE. Buyer acknowledges that Nations REO, Inc. Is not qualified to inspect the Property for
mold contaminants or other microscopic organisms, or radon gas, or to make recommendations or
determinations concerning possible health or safety Issues resulting from the presence of mold
contaminants or microscopic organisms or radon gas. Buyer hereby agrees to release, hold
harmless and indemnify Nations REO, Inc., its officers, employees, agents, successors and assigns,
from any liability or expense whatsoever, including attorneys fees, against any claims of damage or
injury due to the alleged presence of mold contaminants or microscopic organisms or radon gas in
the Property.
PROFESSIONAL ADVICE. Buyer acknowledges that he/she has read this Radon Gas and Mold
Disclosure and Release and fully understands Its contents and significance, Buyer further
understands that he/she has the right to discuss this Radon Gas and Mold Disclosure and Release
with any individual, and to the extent desired, he/she has availed himself/herself of this opportunity.
Buyer: SEE ATTACHED SUBSTITUTE EXECUTION PAGE
-
<fileld> radon gas Ver 1 04~24.09
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26th AVE SW, Naples, FL 34116
Folio Number: 36384240000
SUBSTITUTE EXECUTION PAGE
Date Property acquisition approved by BCC: March 24, 2009, Item 10F
AS TO PURCHASER:
DATED: 9/;~/UdJ
ATTEST: BOARD OF C NTY COMMISSIONERS
DWIGl"iT E. BROCK, Clerk COLLIER C TV, FLOR~ _
BY: ~ ',L~
Donna Fiala, Chairman
MtHt " to.eM frWI t
. t....... II' II
Approved as to form and
legal sufficiency:
~-Du~
Jennif , White
Assistant County Attorney
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26TH AVE SW, Naples, FL 34116
. Folio Number: 36384240000
ADDENDUM TO "AS IS" CONTRACT FOR SALE AND PURCHASE
AND ADDENDUM TO PURCHASE CONTRACT FOR VERICREST FINANCIAL, LLC AND
ADDENDUM TO CONTRACT BETWEEN THE UNDERSIGNED PARTIES CONCERNING THE
PROPERTY AT 5410 26TH AVENUE SW, NAPLES, FL 34116
THIS ADDENDUM is entered into by and between THE BANK OF NEW YORK MELLON formerly
known as THE BANK OF NEW YORK on behalf of CIT MORTGAGE LOAN TRUST 2007-1, Seller, and
COLLIER COUNTY, a Political Subdivision of the State of Florida, Buyer. Buyer and Seller have entered into
that certain "As Is" Contract for Sale and Purchase, and Addendum to Purchase Contract for Vericrest Financial,
LlC and Addendum to Contract between the undersigned parties concerning the property at 5410 26th Avenue
SW, Naples, FL 34116 (hereinafter referred to as "Property") attached thereto, all dated of even date herewith, and
Buyer and Seller wish to amend the foregoing with the following additional terms and conditions:
1. The "As Is" Contract for Sale and Purchase, the Addendum to Purchase Contract for Vericrest
Financial, LLC, the Addendum to Contract, and this Addendum to the "As Is" Contract for Sale and Purchase
and Addendum to Purchase Contract for Vericrest Financial, LLC and Addendum to Contract shall, collectively,
constitute the "Agreement" between the parties, which Agreement shall only be effective upon the execution of
all four referenced documents by both parties.
2. The purchase price shall be $103,550.00 as stated on the attached "As Is" Contract for Sale and
Purchase and the Addendum to Purchase Contract for Vericrest Financial, and the Addendum to Contract is
revised to reflect a purchase price of $103,550.00, and any requirements for initials are waived.
3. The earnest money deposit shall be $0.00 as stated on the attached "As Is" Contract for Sale and
Purchase, and the Addendum to Purchase Contract for Vericrest Financial, LLC, and Paragraph 2 of the
Addendum to Contract is revised to reflect $0.00 earnest money deposit, and any requirements for initials are
waived.
4. The closing date shall be October 23, 2009 as stated on the attached "As Is" Contract for Sale and
Purchase, and Paragraph 3 of the Addendum to Contract, and any requirements for initials are waived.
5. Paragraph 3 of the Addendum to Contract is revised to reflect that Seller shall be entitled to $0.00 per
diem, and any requirements for initials are waived.
6. Handwritten entries, or no entries, on the 2nd and 3rd lines of the Addendum to Purchase Contract for
Vericrest Financial are acceptable, and any requirements for initials are waived.
7. Paragraph 4 of the Addendum to Contract is not applicable and therefore is deleted in its entirety, and
any requirements for initials are waived.
8. Paragraph 6 of the Addendum to Contract is not applicable and therefore is deleted in its entirety, and
any requirements for initials are waived.
9. Paragraph 7 of the Addendum to Contract is not applicable and therefore is deleted in its entirety, and
any requirements for initials are waived.
10. Paragraph 8 of the Addendum to Contract is not applicable and therefore is deleted in its entirety, and
any requirements for initials are waived.
11. Paragraph 9 of the Addendum to Contract is deleted in its entirety, and any requirements for initials
are waived.
NEIGHBORHOOD STABILIZATION PROGRAM
Property Address: 5410 26TH AVE SW, Naples, FL 34116
Folio Number: 36384240000
12. Paragraph 19 of the Addendum to Contract is deleted in its entirety, and any requirements for initials
are waived. Buyer shall not occupy or control access to the Property prior to Closing.
13. Paragraph 23 of the Addendum to Contract is revised to reflect that faxed and/or electronic signatures
on the "As Is" Contract for Sale and Purchase and all Addenda are acceptable, and any requirements for initials
are waived.
14. The notations "See Substitute Execution Page" at the bottom of Page 2 of the Addendum to Purchase
Contract for Vericrest Financial, LLC and Addendum to Contract are acceptable, and any requirements for
initials are waived.
15. The Addendum to Purchase Contract for Vericrest Financial, LLC and the Addendum to Contract
concerning the Property are hereby revised to reflect that a Special Warranty Deed shall be the only acceptable
method of transfer and conveyance, and any requirement for initials are waived.
16. The Addendum to Purchase Contract for Vericrest Financial, LLC is revised to reflect that Vericrest
Financial, Inc. is Attorney-in-Fact for the Seller, the Bank of New York Mellon formerly known as the Bank of
rJew York on behalf of CIT Mortgage Loan Trust 2007-1.
EXCEPT as expressly provided herein, the Agreement between the Purchaser and the Seller remains in full
force and effect according to the terms and conditions contained therein, and said terms and conditions are
applicable hereto except as expressly provided otherwise herein.
IN WITNESS WHEREOF, the Purchaser and Seller have hereto executed this Addendum.
Date property acquisition approved by BCC:
March 24,2009, Item 10F
DATED: 7'J!~~~ PURCHASER:
ATTEST: , .~.
DWIGHT E. BROCK,Clerk
j
"
DATED: SELLER:
The Bank of New York Mellon formerly known as
The Bank of New York on behalf of CIT Mortgage
Loan Trust 2007-1
BY:
PRINT NAME:
TITLE:
MEMORANDUM
Date: September 15,2009
To: Gary Bigelow,
Property Acquisition Specialist
From: Ann Jennejohn, Deputy Clerk
Minutes & Records Department
Re: NSP Program "As Is" Contract w/attached addendums
Property Address: 5410 SW 26th Avenue SW
Attached 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.
Attachment
ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP
TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO
THE BOARD OF COUNTY COMNIISSIONERS OFFICE FOR SIGNATURE
Print on pink PlI{l<=:!'. A1t:tdt to origin:l1 cIocmnotc. Original rf()"!1m"'1fl manld 1>0 hand d.eJivc=i 10 the Board Office.. Thcccmpldoi routing slip and original
docu:m.ent! are to be. timvarded. to rfu: Board Offio: only ~ tf1t: Board lw c:tI::m action. 011 d1e itan..) . .. . .' . .'
ROUTING SLfP , .
.eonq,lcte routing 1lnes lil tbrougb. #4 a.s ~ fur a.dditir:m1 signam=. ~, and/or inf=arl0l1 needed.. If the <h-n~I"Tf;i.1 alrctdy compIc:to wirb. the
t::ta:lldOl1 afd1e ('h"irm-:m's n~ draw a line lhrousti; roorinlt liner #1 dIroulti1 #4, comoietl:: the d1.eck1i.st; and forward to S= Filson (line #5).
\,. 0: Route to Addressee(s) . Office Initials . Date
(List in routinfl order)' . .. .".:_..t;- ._ .
L
.....~~....,_.. - ,... t.- .. "--7
I.
-...-~~~ .-
2.
..
.' ..
- .-.'
3. ,,---- 1--'
--------- ..
.' .
4.
----
5. Sue FIlson, Executive Manager Board of County Commissioners ,
//I~ /U;nl/e~
6. Minutes and Records Oerk: of Court's Office -
pRIl\tIARy CONTACT INFORMATION
(The prim:1ry cont:lct i.1 the bolder o! rfu: original document pending Bee approvaL Nani:m.IIy the primary conClCl: i.1 the pason who =n:rlIprcparcd the executive
stIIIlII1:IrY. Primary conClCl: information is a.caied in the event one a! the :1d.d=e::s :Wove, inc1w:ling Sue fi1son. I1ced to cpnClCl: sraff fur additiClIal or missing
information. All original rll')MITn'"'1r.s needing the Bee Cl1ai=u's sigIllllllrC = to be delivered. 10 the Bee office only afD:r the Bee has aacd. to approve the
item.. )
Name of Primary Staff Phone Number
Contact
Agenda Date Item was Agenda Item Number
A roved b the BCC
Type of Docwncnt Number of Orig:i:nal
Attached Documents Attached
INSTRUCTIONS & CHECKLIST
Initial the Yes column or mark "N/A" in the Not Applicable column. whichever is Yes NI A (Not
a te. (Initial) licable)
1.. Original document 1w been signcdrmitialed for legal stifficicncy. (All documents to be
signed by the Chairman. with chc exception of most letters; must be reviewed and signed
oy the Office of the County Atromey. This includes signature pages from oniinance3.
resolutions. etc. signed by the Co~ty ~y' s Office and signature pages from
contracts. agrceIIlcn.tS. etc. that have been fully executed by all parties except the BCC
Chairman and Qerk to the Board and ssibl State Officials.)
2. All handwritten.strike-througb. and revisions have been initialed by the County 4.ttomey,' s
Office and all other ames e t the BCe Chairman and the Oerk to the Board
3. The Cha.inp.an' s sig:natIIre line date has been entered as the date of B CC appro val of the
document or the final ne tiatcd contract date whichever is licable.
4. "Sign here" tabs arc placed on the appropriate pageS indicating where the Chairman's
si' and initials are r
5. In most cases (some contracts are an exception), the original document and this routing slip , fJ! fr ,-
should be provided to Sue Filson in the BCC office within 24 hours ofBCC approval.
Some documents are time sensitive and require forwarding to Tallahassee within a certain
time frame or the BCe's actions are nullified. Be a our deadlines!
6. The document was approved hy the Bee aD (enter date) and all changes
made dnr:mg the meeting have been incorporated in the attached document.. The
Conn Attorn 's Office h.as reviewed the es, if a liable.
/: Fom:Jst Counry FonmI Bee Fonm.I Origirul Docume:us RDoring Slip WWS Origina19.03.04, Revised [,26.05. RcvUed 2..24.05