As Is Contract for Sale & Purchase
MEMORANDUM
Date:
November 3, 2009
To:
Gary Bigelow, Property Acquisition Specialist
Facilities Management
From:
Ann Jennejohn, Deputy Clerk
Minutes & Records Department
Re:
NSP "As Is" Contract for Sale, Counter Offer & Addendums (2)
Property Address: 2435 31st Avenue NE, Naples
Attached is the original sales contract and accompanying documents referenced above
(Item #10F) approved by the Board of County Commissioners on March 24, 2009.
The Minutes and Records Department will hold a copy of the contract in the
Board's Official Records.
If you should have any questions, please contact me at 252-8406.
Thank you.
Attachment (1)
_.",,--~_._,.. <-"""-~~'" ~.-,
ORIGINAL DOCUMENTS CHECKLIST & ROUTING SLIP
TO ACCOMPANY ALL ORIGINAL DOCUMENTS SENT TO
THE BOARD OF COUNTY COMMISSIONERS OFFICE FOR SIGNATURE
Print on pink paper. Attach to original document. Original documents should be hand delivered to the Board Office. The completed TOuting slip and original
documents are to be forwarded to the Board Office only after the Board has taken action on the item.)
ROUTING SLIP
Complete routing lines II I through 114 as appropriate for additional signatures, dates, and/or information needed. If the document is already complete with the
exce tion of the Chairman's si nature, draw a line throu h routin lines III throu h 114, corn lete the checklist, and forward to Sue Filson (line 115).
Rpute to Addressee(s) Office Initials Date
(I ist in routin order)
1.
2.
3.
,.,..~,...
.,.-
4.
----------'
5. Ian Mitchell, BCC Office
Su ervlsor
6. Minutes and Records
Board of County Commissioners
Clerk of Court's Office
111fl-{ (;) ~
PRIMARY CONTACT INFORMATION
(The primary contact is the holder of the original document pending Bee approval. Normally the primary contact is the person who created/prepared the executive
sUlJlmary. Primary contact information is needed in the event one of the addressees above, including Sue Filson, need to contact staff for additional or missing
information. All original documents needing the Bec Chairman's signature are to be delivered to the BCe office only after the BCC has acted to approve the
item.
Name of Primary Staff
Contact
Agenda Date Item was
A roved b the BCC
Type of Document
Attached
Phone Number
Agenda Item Number
Number of Original
Documents Attached
() 73
/Or:
3
Yes
(In itia!)
N/A (Not
A licable)
I.
INSTRUCTIONS & CHECKLIST
Initial the Yes column or mark "N/A" in the Not Applicable column, whichever is
a ro riate.
Original document has been signed/initialed for legal sufficiency. (All documents to be
signed by the Chairman, with the exception of most letters, must be reviewed and signed
by the Office of the County Attorney, This includes signature pages from ordinances,
resolutions, etc. signed by the County Attorney's Office and signature pages from
contracts, agreements, etc. that have been fully executed by all parties except the BCC
Chairman and Clerk to the Board and ossibl State Officials.)
All handwritten strike-through and revisions have been initialed by the County' Attorney's
Office and all other arties exce t the BCC Chairman and the Clerk to the Board
The Chairman's signature line date has been entered as the date ofBCC approval of the
document or the final ne otiated contract date whichever is a Iicable.
"Sign here" tabs are placed on the appropriate pages indicating where the Chairman's
si nature and initials are re uired.
In most cases (some contracts are an exception), the original document and this routing slip
should be provided to Ian Mithchell 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 BCC's actions are nullified. Be a 0 our deadlines!
The document was approved by the BCC on (enter date) and all changes
made during the meeting have been incorpora ed in the attached document. The
Count Attorne 's Office has reviewed the chan es, if a licable.
C{;h
i: Forms/ County Forms/ BCC Forms/ Original Documents Routing Slip WWS Original 9.03.04, Revised 1.26.05, Revised 224.05, Revised 9.18.09
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ITEM NO.:
FILE NO.:
ROUTED TO:
DATE RECEIVED:
OCf- ~P({ - () l<i~f(
REQUEST FOR LEGAL SERVICES
DATE:
October 28, 2009 - URGENT
TO:
JENNIFER B. WHITE, ASSISTANT COUNTY ATTORNEY
OFFICE OF THE COUNTY ATTORNEY
FROM:
Gary Bigelow
Real Property Management @ Ext. 8073
RE:
Neighborhood Stabilization Program (NSP) Grant
Agreement for 2435 31sT AVE NE
BACKGROUND OF REQUEST /PROBLEM: ~
Please review the attached Contract & Addenda for legal sufficiency, and if accepta~ . ~
please sign. \0""\ C'\. "6 \J..J
\?- f:}-
ATTACHMENTS: (1) "As Is" F ARBAR Contract & Addenda \ \ c:.....
(2) SUPPLEMENTAL DOCUMENTATION C \. \ ~
Property Data Sheets/Certificate of Title ~ 0- S
THIS ITEM HAS NOT BEEN PREVIOUSLY SUBMITTED. S' /' 9-'~
FILENO.: ~Oj(
ACTION REQUESTED: Jennifer: Please sign for legal sufficiency, if acceptable. so we A\J
may present to the Chairman of the BCC for execution. *"'r.I.EA.:-iJ~ NOTf~iHA.I.THISl.'i_
I1JY1E SE~SITIVL
THANK YOU VERY MUCH FOR YOUR ASSISTANCE!!
~
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THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS~ AND THE FLORIDA BAR ~~~
l' PARTIES: AURORA LOAN SERVICES, LLC . ("Seller"),
2" and COLLIER COUNTY, a political subdivision of the State of Florida ("Buyer"),
hereby agree Ihat Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property")
pursuant to the terms and conditions 01 this Conlract lor Sale and Purchase and any riders and addenda ("Contract"):
I. DESCRIPTION:
(a) Legal description of the Reill Pmnprhl Inr"tprl in COLLIER
150 FEET OF TRACT 24 UNIT 69 GOLDEN GATE ESTATES PB 7, PG 6~ _
(b) Street address, city, zip, of the Property: 2435 31ST AVENUE NE NAPLES, FL 34120
(c) Personal Property includes existing rangers), relrigerator(s), dishwasher(s), ceiling fan(s), light fixture(s), and window treatment(s) unless
specifically excluded. below.
Other items included are: Not applicable
3
4
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WEST 75 FT OF EAST
County, Florida:
Items of Personal Property (and leased items, if any) excluded are: Not applicable
$
$83,600.00
$2,000.00
PURCHASE PRICE (U.S. currency): . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
PAYMENT: BECKER & POLlAKOFF, P.A.
(a) Deposit held in escrow by, ("Escrow Agent") in the amount of (checks subiect to clearance)
Escrow Agent's address: 311 STIRLING ROAD, FT. LAUDERDALE, FL 33312 Phone: 946-965-5041
(b) Additional escrow deposit to be made 10 Escrow Agent within --I1LB-' days after Effective Date in the amount of. . . . . . .
(c) Financing in the amount of ("Loan Amount") see Paragraph IV below. . . . . . . . . . . . . . . . . . . . . .
(d) Other. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .................................. . .
(e) Balance to close by cash. wire transfer or LOCALLY DRAWN cashier's or official bank check(s), subject
to adjustments or prorations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE:
(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
before 10 davs from counteroffer , the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. Unless other-
wise stated, the time for acceptance of any counteroffers shall be 2 days from the date the counteroffer is delivered.
(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
final counteroffer. If such date is not otherwise set forth in this Contract. then the "Effective Date" shall be the date determined above for
acceptance of this offe.r or if applicable the final counteroffer. *DEPOSIT DUE WITHIN FIFTEEN (151 DAYS OF EFFECTIVE
IV. FINANCING' " DATE. COUNTEROFFERS INCLUDE ANY ADDENDA SUBMITTED
. . AFTER EITHER PARTY SIGNS.
Ill:/ (a) This Is a cash transaction with no contingencies for financing;
o (b) This Contract is contingent on Buyer obtaining written loan commitment which confirms underwriting loan approval for a loan to purchase
the Property ("Loan Approval'1 within _ days (if blank, then 30 days) after Effective Date ("Loan Approval Date'1 for (CHECK ONLY
ONE): 0 a fixed; 0 an adjustable; or 0 a fixed or adjustable rate loan, in the Loan Amount (See Paragraph II.(c)) at an initial interest rate not to
exceed %, and for a 1erm of _ years. Buyer will make application within _ days (if blank, then 5 days) after Effective Date.
BUYER: Buyer shall use reasonable diligence to: obtain Loan Approval; notify SeIJer in writing of receipt of Loan Approval by Loan Approval
Date; satisfy terms of the Loan Approval; and close the loan. Loan Approval which requires a condition related to the sale of other property shall
not be deemed Loan Approval for purposes of this subparagraph. Buyer shall pay aU loan expenses. Buyer authorizes the mortgage broker(s) and
lender(s) to disclose information regarding the conditions, status, and progress of Joan application and Loan Approval to Seller, Seller's attorney,
real estate Iicensee(s), and Closing Agent.
SELLER: If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may thereafter cancel this Contract by
delivering written notice ('SeIJer's Cancellation Notice'1 to Buyer, but not later than seven (7) days prior to Closing. Seller's Cancellation Notice shall
notify Buyer that Buyer has three (3) days to deliver to Seller written notice waiving this Financing contingency, or the Contract'shall be cancelled.
DEPOS/T(S) (for purposes of this Financing Paragraph IV(b) only): If Buyer has used reasonable diligence but does not obtain Loan Approval
by Loan Approval Date, and thereafter either party elects to cancel this Contract, the deposlt(s) shall be returned to Buyer. Jf Buyer obtains Loan
Approval or waives this Rnancing contingency, and thereafter the Contract does not close, then the deposit(s) shall be paid to Seller; provided how-
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 (iO Buyer's lender
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
returned to Buyer..
o (c) Assumption of existing mortgage (see rider for terms); or
o (d) Purchase money note and mortgage 10 Seller (see "As Is" Standards Band K and.riders; addenda; or special clauses for terms).
V. TITLE EVIDENCE: At least _ days (il blank, then 5 days) before Closing a title insurance commitment with legible copies of instruments listed as
exceptions attached thereto ("Title Commitment'? and, after Closing, an owner's policy of title insurance (see Standard A for terms) shall be obtained by:
(CHECK ONLY ONE): a (1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney; or
(2) Buyer at Buyer's expense.
(CHECK HERE): .:J.lf an abstract 01 title is to be furnished instead of title insurance, and attach rider for terms.
VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on DECEMBER 4, 2009 ("Closing'?, unless
modified by other provisions of this Contract. In the event of extreme weather or other conditions or events constituting "force majeure", Closing will be
extended a reasonable time unt~: (i) restoration 01 utilities and other seNices essential to 'Closing, and (iQ availability of Hazard, Wind, Flood, or Homeowners'
insurance. If such conditions continue more than ~ days (if blank, then 14 diNS) beyond Closing Date. then either party may cancel this Contract.
$
$
$
N/A
$
$81,600.00
";l.R/BAR AS!?:_? Rev. 9/07
@ 2007 _~.FJilildaAsSQcj;.lljnn '"( S,QI10b":V. o.ru::Lrh~ CIM:--'~ n~,
62 VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Seller sh311 convey mmketal)le title subject to comprehensive I,md use pions. zoning,
63 restrictions, prohibitions (lrld other requirements imposed by govorrlmentJI authority; restrictions ,lnd mJtters appearing on the plat or otherwise
64 common to the subdivision; outstJnding oil, gas and mineral nghts of record wilhout :ight of entry; LJnplott8d public utility easements of recorcl
65 (located contiguous to real propel1y lines and not more than 10 leet in width as to the rear or front lines 2nd 7 1/2 feet in width as to the side
66 lines); t3xes for year 01 Closing and subsequent years: and assumed mortgages Lind purchase money mortgilges, 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, Ihe 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 belore Closing, Buyer assumes all risks of loss to Property from date of occupancy. shall be responsible and liable
72 lor 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; 0 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 lien(s), if any, whether certified, confirmed and ratified, pending, or payable in installments,
SO' as of Closing, shall be paid as follows: r!!I by Seller at closing 0 by Buyer (it left blank, then Seller at Closing). If the amount of any
S1 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 01 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.
S6 (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.
S8 (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 jncludes pre-197S residential housing, then a lead-based paint rider is mandatory.
90 (ry 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) PROPER1Y TAX DISCLOSURE SUtv1fv1ARY: BUYER SHOULD NOT RElY ON mE SELLER'S CURRENT PROPERTY TAXES AS mE AMOUNT
94 OF PROPERTY TAXES mAT THE BlNER MAY BE OBUGI\TED TO PAY IN TI-!E YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNER-
95 SHIP OR PROPER1Y IMPROVEMENTS mGGERS REASSESSMENTS OF mE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES.
96 IF YOU HAVE ANY QUESTlONS CONCERNING VALUATlON, CONTACT THE COUNTY PROPERTY APPRAISER'S OFRCE FOR I NFORMAll ON.
97 XII. MAXIMUM REPAIR COSTS: DELETED
98* XIII. HOME WARRANTY: CJ Seller 0 Buyer I!\l 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 availabfe 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 resufting 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 cancef this Contract
105 by defivering 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 Sefler shall be released of
107 all further obligations under this Contract, except as provided in this Paragraph XlV. Unless Buyer exercises the right to cancel
1 08 granted herein, Buyer accepts the Property in its present phYSical condition, subject to any violation of governmental, building,
1 09 environmental, and safety codes, restrictions or requirements and shall be responsible for any and all repairs and improvements
11 0 required by Buyer's lender.
111 XV. RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to and made part of this Contract:
112' 0 CONDOMINIUM 0 VNFHA 0 HOMEOWNERS' ASSN. I2l LEAD-BASED PAINT 0 COASTAL CONSTRUCTION CONTROL LINE
113* 0 INSULATION 0 EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions 0 Addenda
114* Special Clause(s): 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 T ANEOUSL Y WITH THE SIGNED CONTRACT
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SELLER WARRANTS PROPERTY IS VACANT ANO SHALL REMAIN SO THROUGH CLOSING TO COMPL Y WITH THE REQUIREMENTS OF THE
NEIGHBORHOOD STABILIZATION PROGRAM.
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122'
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125'
STANDARDS B, F ANO Y ARE DELETED. DUE TO BUYER BEING A COUNTY GOVERNMENTAL ENTITY WITH SPECIFIC GUIDELINES AND
PROCEDURES, SELLER ACKNOWLEDGES mAT STANDARD S IS HEREBY DELETED.
STANDARDS D AND N ARE DELETED.
126 XVI. "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS IS" Standards): Buyer and Seller acknowledge receipt of a copy
127 of "AS IS" Standards A through Z on the reverse side or attached, which are incorporated as part of this Contract.
FAR/BAR ASIS-2 Rev. 9/07 @ 2007 Florida Association of RfALI()r"s~ and The Florida Bar All Rights Reserved Page 2 01 5
128 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
129 SEEK THE ADVICE OF AN I\DORNEY PRIOn TO SIGNING.
130 THIS "AS IS" FOP,M HAS BEEN APPROVED BY THE FLOFilDA ASSOCIATION OF Rf=:/\LTORS" I\ND THE FLORIDA BAR.
131 Approval does not constitute an opinion that any of tile terms and conditions in this Contr3cl should be accepted by the parties in a
132 particular transaction. Terms and concJilions should be negotiated based upon the respective interests, objectives and bargaining
133 positions of all intHested persons.
134 AN ASTERISK(') FOL'-OWING A LINE NUMBER IN TI-IE MARGIN it'-IDICATES THE LINE CONTAINS A BLANK TO BE COMPLETED.
135' USEE SIGNATURE BLOCK BELOW
136 (BU Oi'\T~-
137*
138 (BUYER) (DATE)
139* Buyers' address for purposes of notice Real Property Manaqe
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:
144' Name:
145
(SELLER)
(DATE)
(SELLER)
Sellers' address for purposes of notice
(DATE)
BARTLEY REAL TV
Cooperating Brokers, if any
listing Broker
Date Property acquisition approved by BCC:
March 24, 20l' lim 10Fc;
DATED: II J... '}-OO
I I
BUYER:
., '"'\ . l~
ATTEST: "'. .
DWIGHT'E. E1ROC~\ Cle~
~t ',~"~'~' ':-.. '. -:
BOARD OF CqtVNTY COMMISSIONERS
COLLIER C?IfJ~TY, FLORIDA /
. I I '
j;// ,//.../J
BY: . ,( ~"""'l'~J- '...../ . ,/' <J. ',;(
Donna Fiala, Chairman
..
Approved as to form and
legal sufficiency:
~~~~~
O'~. County Attorney
PROPERTY ADDRESS:
2435 31ST AVENUE NE NAPLES, FL 34120
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"AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS
A. TITLE INSURANCE: TI10 Till,; Comrnlment ~;tlilll be Issued by a Florida licensed tl11e InSUr8r agreeing to Issue Buyer. upon recorrjing or the deed to Buyer.
an owner's policy 01 Iltle Insurance ,n tl\{" amount or the P,JrchClse price. insuring Buyers marketable title to:rlC Real Properly, subject only 10 mailers contained
in Pilrilgraph Vtl and those to be dischilr90cl by Seller at or tlerore CrOSlng. Iv13rketable title shall be determined according to applicoble Title Standards odopl.
ed by authorrty of The Florida Bilr and In accordance With law Guyer sholl have .5 days from dale of recel'lIng tile Tltl8 CommtllTlenl 10 examine ii, and If title is
found defective. notify Seller In wrillng speCifying defect[s) which render II1Ie unmarketable. Seller shall have 30 days from receipl of notice to remove the
defects. fatllng which Buyer shall. Within 5 d3YS alter expiration of the 30 day penod, deliver written nolice to Seller elthor: (1) ex lending tho time for a reason.
able period not to exceed 120 dcl'ys Within which Sell8r shall use diligent effort to remove the defects; or (2) requesting a refund of deposlt(s) paid which shall
be returned to Buyer. If Buyer fails to so notify Seller, Buyer shall be deemed to I,ave accepted the title as It then IS. Seller shall. II title is found unmarketabie,
use diligent effort to correct defect(s) Within ~he time provided. If, after diligenl effort, Seller IS unable 10 timely correct the defects, Buyer shall either waive the.
defects, or receive a refund of deposlt(s), thereby releaSing Buyer and Seller from all further obligations under this Conlract. If Seller is 10 provide the Title
Commitment and it is delivered 10 Buyer less than 5 days prior 10 Closing, Buyer may exlend Closing so thai Buyer shall have up to 5 days from date 01 receipt
to examine same in accordance with this "AS IS" Standard.
B. PURCHASE MONEY MORTGAGE,
SECURITY AGREEMENT TO SELLER:
Lines 159-168 DELETED
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-
fied by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback
lines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a title defect.
D. WOOD DESTROYING ORGANISMS: DELETED
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
in Paraqraph VII hereof and title to the Real ProoArtv is inslln'lhle in accordance with "AS IS" Strw1Arrl A without exception for lack of legal right of access.
F. LEASES: Lines 175-179 DELETED
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,
claims of lien or potentiallienors known to Seller and further attesting that there have been no improvements or repairs to the Reai Property for 90 days imme.
diately preceding date of Closing. If the Real Property has been improved or repaired within that time, Seller shall deliver releases or waivers 01 construction
iiens executed by all general contractors, subcontractors, suppliers and mate'ialmen in addition to Seller's lien affidavit setting lorth the names of ail such gen-
eral contractors. subcontractors, suppliers and materiaimen. further affirming that all charges for improvements or repairs which could serve as a basis lor a
construction lien or a claim for damages have been paid or will be paid at the Closing 01 this Contract.
H. PLACE OF CLOSING: Closing shall be held at the office of the attorney or other closing agent ("Closing
Agent} designated by the party paying for title Insurance,
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-
allegal hofidays shaH be excluded. Any time periods provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. 01 the
next business day. Time is of the essence in this Contract.
J. CLOSING DOCUMENTS: Seller shall furnish the deed. bill of sale, certificate of title, construction lien affidaVIT, owner's possession affidavit, assignments 01 leas-
es, tenant and mortgagee estoppel letters and corrective instruments. Buyer shall furnish mortgage, mortgage note, security agreement and financing stalements.
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
from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed,
mortgagee title insurance commitment with related fees, and recording of purchase money mortgage, deed and financing statements shall be paid by Buyer.
Unless otherwise provided by law or rider to this Contract, charges for related closing services, title search, and closing fees (including preparation of closing
statement), shal be paid by the party responsible for furnishing the title evidence in accordance with Paragraph V.
L. PRORATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses of the Property shall be prorated through the day before Closing.
Buyer shilll have the option of taking over existing policies of insurance, if assumable, in which event premiums shall be prorated. Cash at Closing shall be
increased or decreased as may be required by prorations to be made through day prior to Closing, or occupancy, if occupancy occurs before Closing. Advance
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
year's tax with due allowance made lor maximum allowable discount, homestead and other exemptions. If Closing occurs at a date when the current year's mill-
age is not fixed and current year's assessmenl is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assess-
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,
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-
ment to be agreed upon between the parties: failing which, request shall be made to the County Property Appraiser for an informal assessment takin9 into
account avajlable exemptions. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of current year's tax bill.
M. (RESERVED - purposely left blank)
N. INSPECTION AND REPAIR: DELETED
O. RISK OF LOSS: If, after the Effective Date, the Property is damaged by fire or other casualty ("Casualty Loss") before Closing and cost of restoration (which
shall include the cost 01 pruning or removing damaged trees) does not exceed 1.5% of the Purchase Price, cost of restoration shall be an obligation 01 Seller and
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
the cost of restoration exceeds 1.5% of the Purchase Price, Buyer shall e/lher take the Property as is, together with the 1.5% or receive a refund of deposit(s)
thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation with respect to tree damage by casually or other natu-
ral occurrence shall be the cost of pruning or removal.
P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If the title agent insures adverse matters pursuant to Section 627.7841,
F.S., as amended, the escrow and clOSing procedure reqUired by this "AS is'' Slandard shall be waived. Unless waived as set forth obove Ihe following
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"AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)
clOSing prOCeijurCS Sh,lll opply i1) 311 clOSing fJrocccds shOll be '1Cld In Cicrow I)y Ii", ClOSing i\gcni lor a fJeclod 01 not morc :han 5 dol's after Closing; (2)
II Seller's tille is renderod unmorketalJle, Ihrour)o'l no fau't ot Buyer. Buyer sf1all. w,t/1in Ille 5 d,lY period, nollfy Seller In 'Nrrllng of the dofcct and Seiter shall
have 30 days from date of receipt 01 such notification to cure the defeCl, (3) if Seller lads to tlf]1el; cure 11-,'] defect, elll deposits Jnd ctosing funds shall, upon
written demand by Buyer and Within 5 days after demand, be returned to Buyor and. Simultaneously wdh such repayment, Buyer shall return the Personal
Property, vacate the Real Property and reconvey the Properly to Seller by special warranty deed and bill of sale: and (4) II Buyer fails to make timetI' demand
for refund, Buyer shall take IItle as IS, w3ivlng all rights against Seller as to any intervening delect except 3S may be available 10 Buyer by virtue of war-
ranties contained in the deed or bill of sale.
Q. ESCROW: Any Closing Agent or escrow agent (colleclively "Agent") receiVing funds or equlvatenl is authorized and agrees by acceptance of them to deposit
them promptly, hold same in escrow and. subject to clearance, disburse lhem in accordance With lerms and conditions of this Contract. Failure of funds to
clear shall not excuse Buyer's performance. II in doubt as to Agent's duties or liabilities under the provisions of this Contract. Agent may, at Agent's option, con-
tinue 10 hold the subject matter of the escrow until the parties herelo agree 10 ItS disbursement or until a judgment of a court of competent Jurisdiction shall
determine the rights of the parties. or Agent may deposit same With the clerk of the cirCUit court haVing jurisdiction of the dispute. An attorney who represents
a party and also acts as Agent may represent such parly in such action. Upon notifying all parties concerned of slIch action, all liability on the parl of Agent
shall fully terminate, except to the extent of accounting for any items previously defivered out 01 escrow. If a licensed real estate broker, Agent will comply with
provisionS of Chapter 475. F.S.. as amended. Any suit between Buyer and Seller wherein Agent IS made a party because 01 acting as Agent hereunder, or in
any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's fees and costs incurred with these amounts to
be paid from and out of the escrowed lunds or equivalent imd charged and awarded as courl costs In favor of the prevailing party. The Agent shalt not be liable
to any party or person for misdelivery to Buyer or Seller ot items subject to the escrow, unless such misdelivery is due to willful breach of the provisions of this
Contract or gross negligence of Agent.
R. ATTORNEY'S FEES; COSTS: In any litigation, including breach. enforcement or Interpretation. ansing out of this Contract. the prevaiting party In such liti-
gation, which, for purposes of this "AS IS. Standard. shall include Seiter, Buyer and any brokers acllng in agency or nonagency relationships authorized by
Chapter 475, F.S.. as amended, shall be entitled to recover 'rom the non-prevailing party reasonable attorney's fees, costs and expenses.
S" FAILURE OF PERFORMANCE: Lines
241-246 DELETED
T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any notice of it shall be recorded in any public records.
This Contract shall bind and inure to the benefit 01 the parties and their successors in interest. Whenever the context permits. singular shall include plural and
one gender shaH 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.
All notices must be in writing and may be made by mail, personal delivery or electronic media. A legible faCSimile or electronic (including "pdl") copy of this
Contract and any signatures hereon shall be considered for all purposes as an original.
U. CONVEYANCE; Seller shall convey marketable title to the Real Properly by statutory warranty, trustee's, personal representative's, or guardian's deed, as
appropriate to the status 01 Seller, subject only to matters contained jn Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, at the
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.
V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No mod-
ification to or change in this Contract shall be valid or binding upon the parties unless in writing and executed by the parlies intended to be bound by it.
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
which have not been disciosed to Buyer; (2) Seller extends and intends no warranty and makes no representation of any type, either express or implied,
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
to a currently uncorrected building, environmental or safety code violation; (4) Seller has no knowledge of any repairs or improvements made to the
Property without compliance with governmental regulation which have not been disclosed to Buyer.
X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seller shall maintain the Property, including,
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
reasonable notice, provide utitities service and access to the Properly lor appraisal and inspections, including a walk-through prior to Closing. to confirm that
all items of Personal Property are on the Real Property and that the Property has been maintained as required by this "AS IS" Standard. Seller will assign all
assiqnable repair and treatment contracts and warranties to Buyer at Closing.
Y. 1031 EXCHANGE Lines 267-270 DELETED
contingent upon, nor extended or delayed by, such Exchange.
Z, BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by law, against any real estate licensee involved
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
Buyer or anyone claiming by, through, under or against the Buyer.
FAR/BI'," ASIS.2 Rev. ~l/07 IQ 2007 Florida Association of "U,UOI!S" and HI'" Florida Bar All Rights Resorved. Page 5 of 5