As Is Contract for Sale and Purchase
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIAT
"As Is"
"As Is" Contract For Sale And Purchase
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PARTIES' COLLIER COUNTY,.a Political Sut>division of the State of Florida ("seHer"),
and RUBEN A. CASTRO & ISABEL M. CASTRO, husband and wife _ ("Buyer"),
hereby agree that Seller shall satl and Buyer shall buy the following described Real Property and Personal Property (~oHectIvalY "Property")
pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ("Contract ):
I. DESCRIPTION: . . Th E t 75 f t f th
(a) Legal descrlption of the Real Properly located in CollJ.er . County,Florida: e as. ee 0 e
West 180 feet of Tract 86, Golden Gate Estates, Un~t 71, recorded ~n Plat Bk 5, Pg 7, Coll~er County, FL
(b) Street address, city, zip. of the Property: 3620 20th Ave NE, Naples, Florida 34120
(e) Personal Property includes existing range(a), refrigerator(s), dishwaahe/1S) , ceiling fa0(5), light flxture(s), and window treatment(s) unless
specifically excluded below. W h d
Other items Included are: Microwave, Central AIC, Four (4) Ceiling fans, Garage Door Opener. as er an
Drye.r.
Items of Personal Property (and leased Items, ij any) excluded are:
NIA
15* II. PURCHASE PRICE (U.S. currency):.......................................................,... $ 89,400.00
16 PAYMENT:
17* (9) Depoeit held in escrow by~_. STeWART TI1J..I;.___.('Escrow Agen11 in the amount of (checks subject to clearance) $ 1, 000 , 00
18' Escrow Agenf's add(9ss: 3938 To""'", Troll NorIh. SUi" A. NopI..._~ 341~._ _ . .____Phone: 239-262-2163
19' (b) AddItional escrow dePOsit to be made to Escrow Agent within 15 days after Eft8Cllv8 Date In the amount of. , . .. . .. ..
20' (c) Rnancir1g In the amount of ("Loan Amount"l8ee Paragraph IV below . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . , . . . . . . .
21' (d)Olher~.~!?!>.F; .~.I.~?~ .;t.l.~. :rn~9.l!Q~ ,+P......................".......................,........
22 Ie) ~lanC8 to close by cash. wire transfer or LOCALLY DRAWN caSl1ier's or official bank check(SI. eubjllct
2S" to adJ~nts or proralions . .. . . . , . . . . . .. .. . .. .. .. .. . . . . . . . . . . . . . . . .. ... ................,................. $
24 Ill. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE:
25 (e) 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 15 Days , the deposi1(s) Win, at Buyer's option, be returned and this offer withdrawn. l.l",I... aiher'
a+ ~\~I' IWleg, ltll tlIRI fQi' allll.a"ll. et MY eewAt9l'e#IF8 Illall ~. :1 llaye "IfI tll. glte till .IIIIltlfllfflr II gellvl".
28 (b) The date of Contract ("Effective Date") will be the date wlhen the last one of the Buyer and Seller has signed or Initialed this offer or the
29 final counteroffer. If SUCh elate is not otherwise set forth in this Contract. then the 'Effective Date' shall be the date detennlned above for
30 acceptance of this offer er, If 8fol~llsaBls, tRS liRal sS\lRtsrefler.
31 IV. FINANCING:
32' a (e) This is a cash transaction wi1h no contingencies for financing;
33" R!i (b) ThIs Contract is contingent on Buyer obtaining written loan commitment which contrms underwriting loan approval for a loan to pun::hase
34' the Property ('Loan Approval") within _ days (~ blank, then 30 days) after Effective Date iLoan ApproyaJ Date") for (CHECK ONLY
35' ONE): R!i a fixed; a a1 adjustable; or a a fixed or adjustable rate loan, in the Loan Amount (See Paragraph 1I.{c)) at an initial Interest rate not to
36' exceed 6 . 00%, and for a term of -1.Q. 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 Loen Approval by L.oen Approval
38 Date; satiSfy terms of the Loan Approval; and close the loan. Loan Approval which reqUres a condition related to the sale of other property shaft
39 not be deemed Loan Approval for purposes of this subparagraph. Buyer shall pay all loan expenses. Buyer authorlz93 the mortgage broker(s) and
40 lender(s) to disclose informatiOn regarding the eonclitions, status. and progress of loan application and Loan Approval to SeIer. SeIer's attorney,
41 real 86tme Iicensee{s), a1d Glo6irl1 Agent.
42 SEllER: If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Saller may thelBafter cancel this Contract by
43 deMring wrttten notice I"SelIer's Cancellation Noticelto Buyer, but not later than seven (7) days prior to Closing. SeI1er's Cancellation Notice shaI
44 notify Buyer that Buyer has three (3) days to deIivef to Seller written notiCe waM'lg this Fll1aI'lCflg contingency, or the Contract shaft be cancelled.
45 DEP051T(S) (for purposes of this Financing Paragraph IV(b) only): If Buyer has used reasonable dilgence but does not obtain Loan Approval
46 by Loan Approval Date, and thereafter elther party elects to cancel this Contract, the deposit{s) sha. be returned to Buyer. If Buyer obtains Loan
47 Approval or waives this Financing contingency, and thereat1er the Contract does not close, then the depo&it(s) shaK be pajd to Seller; provided how-
48 fNer, if the failure to close is due to: ~ Seiler's faikJre or refusal to close or Seller otherwise falls to meet the terms of the Contract, or rd) Buyers lender
49 faIs to receive and approve en appraisal or the Property in an amount sufficient to meet the terms of the Loan Approval, then the depos"(sj shall be
50 returned to Buyer.
51' 1:1 (e) Assumption of eXisting mortgage (see rider for terms); or
52' a (d) Purchase money note and mortgage to Seller (see "As Is" Standards Band K and riders; addenda; or special clauses for tenns).
53' V. mLE EVIDENCE: N least ~ days (If blank, then 5 days) before Closing a title insurance comm~ment with ieglble copies of Instruments listed as
54 exceptions attached thereto ('T~1e Commitment') and. after CIooIng. an owner's policy Of title nsurance (see Standard A lor terms) shall be obtained by;
55' (CHECK ONl.Y ONE): a (1) Seller. at Seller's expense and delivered \0 Buyer or Buyer's attorney; or
56' III (2) Buyer al Buyers expense.
57" (CHiCK HiRiiji I;.) If aR .street ef litlt~ is te Be f\jrRis~ea IRalsaa ef title IAlllffllAee, lIAS alteeA Raer fer telms.
58- VI. CLOSING DAre This trC!l1saction shiil be dosed and the closing docurT'EJnts deivered on USEE LINE 119 iOoslng'), unless
59 mocified by other provisions of this Contract. In the event of extreme weather or other condflior15 or events constMng "force ~8Ule', Closing will be
60 extended a reasonable time lI1tiI: (i) restoration of utilities and other services essenllal to Closing. lYld QQ avaiIabiity of Hazard, Wind, Flood, or Homeowners'
61* insuance. 11 such GOnCiIions continue more than _ days (If bOOk, then 14 days) beyond ClosIng Date. then either party may C'.anceI this Contract.
FARlBAR ASIS'2 Rev. 9/07 C 2007 Florida Association of RliAl.T~ and The Florida ~r AI Rights Reserved Page 1 01:;
$~~~.2.00
$ 68,838.00
$ 17,880.00
0.00
62 VII. RESTRICTIONS; EASEMENTS; UMITATIONS; seller shall corrvf1t marketable title subject 10: comprehensive land use pllir1s, zoning,
63 restrictions, prohibitions and other requirements Imposed by governmental authOrity; restrictions and matters appeaing on the pial or otherwise
64 common to the subdivision; outstanding oil, gas and minerai rights of record without rigl11 of entry; unplatted public utlllty easements of record
65 (loCated contiguous to real property nnes and not more than 10 leet In wldttl as to the rear or front lineli 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 Qf additional Items. see
67' addendum); provided, that there exists at Closing no violation of the foregoing and none prevent use of the Property for res i dent ial
68" purpose(s).
69 VIII. OCCUPANCY; Seller shall deliver occupancy of Property to Buyer at time of Closing unlesS olt1elwlse stated herein. If PRilllsFty Ie iRtElAsea
~ ~ =~===,':: aAB t8lffiS tl1eRilsf aRa ~e teRElAt(S) er esetlllBAta sRalI Be ElI~~e9~~~!~~...~: ==
~ ,.,... _ A ~-..-~-v~--- -- CI--............Bv/er asSblf'l8S all flslIs ef le66 Ie Pl'etaaFly fRilfl'\ ~ ~ e~a:.~ ~~~ ~,!81:I11~ 9REl~1alil1e
~ fer ';;;;e;;;;~~ t;~trot aate, BREI aha. lae elseR'lelil te !lave aeeelltea PR:JtaeR)' IR its ellietl!'1i ~AetitieA ali 9f time gf \akIR8 ll9QW!ilOAey.
73 IX, TYPEWRllTEN OR HANDWFU'ITEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda Shall control all printed pro-
74 visionS of this Contract In con1lict with tI1em.
75' X. ASSIGNABIUTY: (CHECK ONLY ONE): Buyer 0 may assign Bnd thereby be released from any further liability under this Contract; 0 may
76' assign but not be released from liability under this Contract; or III may not assign this Contract.
77 XI. DISCLOSURES:
78 (e) 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,
60" as of Closing, shall be paid as follows: Q by Seller at closln9l1 by Buyer (1f left blank, then Seller at Closing). If the amount of any
81 assessment to be paid by Seller has not been flnally datermlned as of Closing, Seller shaH be charged at Closing an amoun1 equai 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 quan11ties may present health risks to per-
84 sons wI10 are exposed to It over time. Levels of radon that exceed federal and state guidelines have been found In buildings In RorIda.
8p Additional infofma1ion regarding radon or redon testing may be obtained from your County Public Health unit.
86 (0) Mold Is naturally occurring and may cause health risks or damage to property. If Buyer Is concerned or desires addltlonallnformation
87 regarding mold, Buyer sOOUld contact an appropriate professional.
88 (d) Buyer acknOWledges receipt of the Flor1da 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 mandatO!)'.
90 (I) If seHer 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 TIONlCOMMUNITY DISCLOSURE.
93 (h) PF()PERTY TAX i:lSCLOSlJRE Sl..MoMRY: aNER SHOJlD NOT Ray 0\1 THE SEllER'S CURRENf Pf()PERlY TAXES /IS THE AMOUNT
94 OF PROPI3'ITY TAXES ~T THE BUYER MAY BE 0BUGA.T8) TO PAY IN THE YEAR SUBSEQUENT TO Pl.JF\CI-WlE. A CHANGE OF OM\ER-
95 SHIP OR PROPERTY IMPROVEMENTS "ffi100ERS REASSES&.1ENTS OFTt-E PROPERTY~T 00lAD RESLLT IN HIGHER PROPERTY TAXES.
96 IF YOU I-V\VE IWY o.,esnONS CONC81NING VALUA11ON, CONTACT Tt-E COL.MY PROPERlY APf'RIIJSER'S OFFlGE FOR INFORMA11ON.
97 XII. MAXIMUM REPAIR COSTS; DELETED
B8' XIII. HOME WARRANTY: a Seller a Buyer II N1A win pay for a home warranty plan isSued by
99' at a cost not to exceed $ .
100. XlV. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have -2-.. da}'5 from Effective Dat. ("Inspection Period-) within
101 which to have ,uch inspections of the Property performed as Buyer shall desire and utilities service shalt be made available by the
102 Seller during the Inspeat/on Period; (b) Buyer Ihall be responlllble for prompt payment for such inllpfliSflons and repelr of damage
100 to end restoratfon of the Property rewlfing from /Such In:speetlona and this provision (b) shall survive termination of this Contract;
104 amI (c) if Buyer determines, In Buyer" sole discretion, that the Property is not acceptable to BlJ)'fIr, Buyer may C;/JfICeI thl, 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 tII/8 Contraot, the deposlt(s) paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shtJ/I be rvIeased of
107 all further obligations under this Contract, except as provided In this Paragraph XIV. Unless Buyer exerc/sea the right to cancei
108 granted herein. Buyer accepts the PropfKty In Its pl'Nent phyllic:aI condition, subject to any violation of governmental. building,
109 environmental, and safety codes, restrictions or requirements and shall be responsible for any end all repairs and Improvements
110 required by Suyer's lender.
111 xv. RIDERS; ADDENDA: SPECIAl. CLAUSES: CHECK those riders WhiCh are appHcable AND are attached to and made part of this Contract:
112' 0 CONDOMINIUM a VA/FHA a HOMEOWNERS' ASSN. 0 LEAD-BASED PAINT 0 COASTAL CONSTRUCTION CONTROL LINE
113* 0 INSULATION 0 EVIDENCE OF 11TLE (SOUTH FLORIDA CONTRACTS) 0 Other CorTllrehensive Rider ProIIIslons 0 Addenda
114' Special Clause(S):
115' "BUYER WILL RECEIVE$26, 820 FROM THE COLLIER COUNTY NEIGHBORHOOD STABILIZATION PROGRAM. BUYER WILL USE
116* $17,880 (20\ OF THE PURCHASE PRICE) FOR PRINCIPAL REDUCTION AND THE REMAINING BALANCE OF $8,940WILL BE USED
117' FOR CLOSING COSTS, PREPAID ITEMS AND ANY DISCOUNT POINTS ASSOCIATED WITH THE FIRST MORTGAGE TRANSACTION.
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119' "THE TRANSACTION SHALL BE CLOSED ON OR BEFORE 90 DAYS FROM EFFECTIVE DATE.
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126 XVI. "AS IS. STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS IS" Standards); Buyer and Seller Bcknowledge receipt of a copy
127 of "AS IS' Standards A through Z on the reverse side or allached, which are incorporated as part of this Contract.
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THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FUL1.Y UNDERSTOOD,
SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
130 THIS "M IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS" AND THE FLORIDA BAR.
131 Approval doeS not constitute an opinion that any of 1he terms and concltions in this Contract should be accepted by the parties In a
132 particular transaction. Terms and conditions should be negotiated based upon the respectt-lelnterests, objeCtlVee and bargaining
133 positions of aft interested persons.
134 r.AN ASTERISK!') FOlLO~N~NE NUMBER IN THE MARGIN INDICATES THE LINE CONTAINS A BLANK T.O BE COMPlETED.
135' (~~~ 4-.zt-(O Seller Siqnature Below
136 (I3UY~UBEN A. CA;;;FRO (DATE) (SELLER)
137* ~~~ (Va~ y- 2--7 -I OSeller Sicmature Below
138 (BUYER) ISABEL M. CASTRO (DATE) (SELLER) (DATI:l
139* Buyers' address for purposas of notice 2496 42ND ST SW , Seners' address for purposes of notice clo CC RPM ,Building W,
140* NAPLES, FL 34116 3301 E. Tamiami Trail. Naoles. Florida 34112
141* 239 - 352 -1645 Phone (239) 252-8991 Phone
142 BReKERSlllIe efehel'8 al'lel\;talAIJ eeel'leF9liAIJ BfllheFe, If af!',) AWfleEllsela.... ere fI:1e el'll'i 1ll'811e1'8 e.-Iell te 88""Il9fllll!ltieR iR eef\, .aetleR vJitlo\
143 tt'1te CeRt!9et!
'44'r~II".
+4i
(DATE)
(;eellsretlAI 8Nks.., If BA)'
!.i_I BflBker
CONVEYANCE APPROVED BY BCC:
DECEMBER 1, 2009 - ITEM 17B
DATED' tf /~f / :?-o/D
,
ATTEST: 1-'
DWIGHT 'E.'SROCK
SELLER:
BOARD OF COUNTY COMMISSIONERS
COLLIER COUNTY, FLORIDA
J
.t~_f.~J
BY:
FRED
Approved as to form
~al sufficiency:
~} ~l tv
Jennifer B. White, Assistant
County Attorney
PROPERTY ADDRESS: 3620 20TH AVENUE NE, NAPLES, FL 34120
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"AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS
A. TlTl.E INSURANce: The TItle Comm~ment shall be \s$ued by II Aortda ~ceneed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer,
an owner'll poley of title Insurance in the amount of the purchase price, insuring Buyer's marketable title to the Real Property. subject only to matters contained
in Paragraph VII and those to be discharged by Seller at or belore ClOSing. Mar1<etable title shall be determined according to applicable TItle Standlllds adopt-
ed by euthortty of The Ronda Bar and In accordance with law. Buyer shall have 5 days from date of receiving the Trtle Commitment to examine n, and If title is
found defective, notify Seller in writing specifying defect(s) wtich render title unmarketable. Seller shel have 30 days from receipt of notice to remove the
defects, failing which Buyer shal!. within 5 days aller expiration of the 30 day period, del\ver wrnten nollce to Seller enh~ (1) extending the tlma for a reason-
able period not to exceed 120 days within which SeIer shall use diligent effol1to remove the defects; or (2) requesting 8 refund of deposlt(s) paid which 8hall
be returned to Buyer. If Buyer fe.ll6 to so notify Seller, Buyer shall be deemect to have accepted the tnle 811 rt then is. Seller shall, If title ill found unmarketable,
USE! dlIiger1t etfort to comlOl defecl(s) within the time provided. If. after diligent error!, SeHer Is unable 10 tlmely correct the defects. Buyer shaH enher waive the
defects. or receive a refund of deposlt{s), thereby releesing Buyer and Seller from all further obligations under this Contract. If Seller is to provtde the nle
Commllment and it Is deltwr9d to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer shall haw up to 5 days from date of receipt
to examine &aIT1EI1n accordance with this "/!oS IS' Standard.
B, PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase monev mortgage and mortgage note to Seller shall prt;lVlde for a
30 day grace perk>d in the event of defal.i1 If a first mortgage and a 15 day grace period If a second or lesser mortgage; shall provide for right of prepayment
in wt10le or In part without penalty; shall permit accelerBlion in event of transfer of the Real Property; shall requlAl all prior lens and encumbrancee to be kept
in good standing; shall forbid modlflcatkx1s of, Cl'" fl.4ure advances under. prior mortgEig8(s); shall reQulAl Buyer to maintain policies a1l11surance containing a
sta1dard mortgagee clBu8e CO\Illring allrnprovements located on the Real Property against fire and ell perils Included within the term 'extended coverage
encIor8ements" end such other risks and perils 811 Seller may reasonably require, In an amount eQUal to their higlest Insurable value; and the mortgage, nole
and secu1ly agreement shall be otherwise In fOl1Tl and content required by Seller, but SeIer may only require clauses and coverage customarily found In mort-
gages, mortgage notes and security agreements generelly utilized by savilgs and loan institutions or state or national banks located in the county wherein the
Reel Property Is located. M Personal Property 8A81888S811eiRIl 99R'!ElYsII9I' 8IlSIIlR9Q wIl. at SeIIer's option. be subject to the lien of a security agreement evi-
denced by recorded or flied financing statements or certificates of title. II a lIalleeR IflllFt\jage, ti'le ~RaI filaylMRI will SIIGee9 tAll ~risll19 raayRlSRlS tRSreeR.
C. SURVEY: Buyer, at Buyer'll expense, w1ttln time allowed to deliver evidence of Utle and to examne seme, IT1lY hElve 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 eneroach on setback
lines. easements, lands of others or V10late any restrictions, Contract covenants or appIcable QOVeIlYTlental regulations, the same shall constitute a t~1e defect.
D. WOOD DESTROYING ORGANISMS; DELlTED
Eo INGRESS AND EGRESS: Seller warrants and represents that there Is Ingress and egress to the Real Property sufficient for Its intended use Il8 described
In Paragaph VII hereof and title to the Real Property Is Invurable in accordance with '/!oS IS" Standard A without exception for lack of legal rtght of access.
F: lEJ\8E8. Seller aI-lall at 111111111 Q seys lie/ere Q1es~!I. furRIeR Ie Bll)'sr eellles sf all \vA"eR leMee ana eetappsllettBfll WfI'\ _R lel'18At BfleellytRll IRe Ratlll'll
aAli "alie" ef the teRaRt"6 eeelolfilElAB'1, ~F1lal FliItes, aIlwAeea reAl 111'111 BBMty liepaslls Ilallllly 1aR9l'lt. If iieller 10 WFlIlt;Jls tll Qt;JtaIR BUIlR Istler frelR BlI~ tliR
ant, the ~ ~lllI'l eI'laq lie 1\;II'fllel'lBslII' taller ts 81fY81' "tRIR hi tll'fls filaA9ElIR tRa fefffi at 8 iellsr'llllffkja>Jil. anQ 811';er R'la;' t~IFealler IlsRtIil\ll tliR
Mt le-eeAlirf'l etleR iRfePWllllleR. If tRe terms at tRll ill." &lifter meleFiel1y fI'9R'l &eRer'6 AlpAl8sRlalIeFls. 8wysr FRay tBA'l'1iRlIIlI tRil CBFlfl:lIllll;lo/ seliYllfiR8 ..~
IIlHlee 1e SeRer at least Ii liaye IJfler tll ClfislAg. SeHer sllllll, at CleslRIl, selt.'er lIAS 8&sljR all 9FifjAal188lIM te iiJwer,
G. UENS: Seller shall furnish to Buyer at lima of Closng an affidavit attesting to the absenCe, unlesS othelWtse provided for herein, of any financing statement.
claims of lien or potentialllenors known to Selillr and further attesting that there have been no improvements or repairs to the Real Property lor 90 days trrme-
diately prece<:ing date of Closing. If the Real Property has been Improved or repaired within that time, Seller shall deliver rele8ll8S or waivers of constructlor1
liens executed by all general contractors, subcontractors, suppliers end materialmen In addition to Seller's lien afftdavlt setting forth the names of all such gen-
eral contractors, subcontractors, suppliers and materialmen. further affirming that all charges for improvements or repairs which oouId serve as a besle for a
oonstructlon lien or a claim for damlIgeS have been paid or wll be paid at the Closing of this Con1ract.
H. PLACE OF CLOSING; CloSIng shall be held In the county wherein the Real Property is located at the ob of the attorney or other closing agent iCloslng
Agent") designated by the party paying for litle Insurance, or, If no title insurance, designated by Seller. ..'
I. TIME: calender days shell be used In COI'T"f)Ulilg time periods except periods of lesS than six (6) days, n which event Saturdays, Sundays and state or nation-
a11ega1 holidays shall be exclJded. ArrI tima periods prt;IVIded for herein I'ott1Ich shill end on a Saturday, SlJ'lday. or a legal holiday shllII exlend to 5:00 p.m. of the
next business day. T'irnIIle of1he ...ence In this contract. * StatutorY deed. bill or sale.
J. CLOSING DOCUMENTS: Saller ahaI furnish the aM. lllN ef eele, eePlI1le8le ef tllle. oonstruclion lien affidavit, owner's possession lIIfidavil, II&lilllMl8Rte at IIl&ll
liS, lilFlllRl anslRe"Mee alllel3filsllellaRl and eorrective instruTlents. Buyar shal furnish mortgage. mortgage note, security agl9fllT1llnt and tlnancing statements.
K. EXPENSES: Documentary ~ on the deed and recorc:.Ing of corrective Instruments shaI1 be paid by ~ /JJ costs of Buyer'll loan (whether obtalned*!!l!nI
from Seller or third party). including, but nollimited to. documentary stamps and intangible tax on the purchase money mortgage and any mortgage llSSlXTled.
mortgagee title insurance commitment with related feas, and recording of purchase money mortgage, deed and financing ststements shall be peld by Buyer.
UnlesS otherwise prt;lVlded by law lir Rssr te tAle CeRlJa9l, charges for related clO6lng services, title search, and closing fees Onc~d1ng pnlparatlon of closing
statement), shall be paid by the party responsible for furnishing the title evtdence In accordance with Paragraph V.
L. PRORATIONS; CREDITS: Taxes. assessments. rent, Interest. insurance and other expenses of the Propsrty shalt be prorated through the day before ClosIng.
Buyer shaI have the opUon of taking tNef exlstng policies a1lnsurance, if assumable. In which event premiums shall be prorated. Cash at ClosIng shall be
Increased or decr'eeSed Il8 may be reqJIred by prorations to be made through day prior to Closing, or occupancy, if occupancy 0CCIJnl before Closing. Advanoe
rent and security deposits will be credited to Buyer. Escrow deposhs held by mortgagee will be eredlted to Seller. Taxes shall be prorated besed on the current
yeer's tax with due allowance made for maxm.rn allowable discount. hclrrestead and other exemptions. If Closing occurs at a date when the current year's mll~
age Is not fixed and current year's assessment Is avaBable, taxes will be prore1ed based upon such assessment and prior year's milage. W current year's assess-
mant Is not available, then tllX88 will be prorated on prior yeer's tax. If there are ocrnpleted Improvements on the Real Property by January 1 Sl of year of Closing,
which improvements W'BAl not in existence on January t st of prior year, then taxes shall be prorated based upon prior year's milage and at an eqlitable B8SIlSS-
ment to be agreed upon between the perties; faIIng which, request shall be made to the County Property Appraiser for a"l informal Il8sessmant taking In~o
account available exemptions. A tax proratlon based on an estiT1ate Shall. at request of either party. be readjusted upon receipt of current year's tax blH.
M. (RESERVED' purpoaely left blank)
N. INSPECTION AND REPAIR: DI!lLETIID
O. RISK OF LOSS; If. alter the Effective Date. the Property is dSlT1lged by fire or other c88Ualty iCasuaJly Lossj betora Closing and cost of restore1lon (Which
shall Include the cost of pruning or rerroving damaged trees) does not exceed 1.5% of the Purchase Price, cost of restoration shall be an obligation of Seier and
Closing shall proceed pursumt to lhe terms of this ContTac;t, and if restoration Ie not comple1ed as of Closing, restoration costs will be escrowed at CIoSi1g. If
,the cost of restoretion exceeds 1.5% of the Purchase Price. Buyer shaH either take the Property Il8 Is, together with the 1.5% or receIVe a rotund of deposIt{s)
thereby releasing Buyer and Seller from all further obligations under this Contract. SeIIer's sole obligation with respect to tree damage by casualty or other natv-
raI occurrence shall be the cost of pruning or I'llmova/.
P. CLOSING PROCEDURE: The dead shall be recorded upon clearance of funds. If the title agent Insures adverse matters pursuant to Section 621.1641,
F.S.. as amended, the escrow and oloslng procedure required by this '"g IS" Stenderd shall be waived. Unless waived as set forth above the following
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MAS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)
closing procedures shall apply: (1) all closing proceedS Shall be held in escrow by the Closing Agent for a period of not more than 5 days after Closing; (2)
If Seiler'll title Is rendered unmar1<etable. through no fault of 6vyer, Buyer shall, within the 5 day period, notify Seller in writing of the defect lWld Seller s~
have 30 days from dpte of receipt of such notification to cure the defect; (3) If Seller lails to timely cure the defect, all deposits and closing funds shall, upon
written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall ret\ln the Personal
Property. vacate the Real Property and reeonvey the Property to Seller by special warranty deed and bill of sale; and (4) If Buyer fails to make timely demand
for refund, Buyer shall take title as is, waiving all rights against Seller as to any Intet'Venlng defect except as may be available to Buyer by vtrtue of war-
ranties contained in the deed or bill of sale.
Q. ESCROW: Any Closing Agent or escrow agent (coIectlYety "Agent') receMng lunds or equtvalent Is authorized and agrees by acoaptance of them to clepoelt
them promptly. hold same in escrow and. subject to clearance, disburse them In accordanca with terms and conditions of this Contract. Failure of funds to
deer shall not excuse Buyer's performance. If In doubt as to Agent's duties OIllabllltles under the provisions of this ContrlllCt, Agent may, pt Agent's optiOn, 000-
tinue to hold the subject matter of the escrow until the parties hereto llQnl6 to Its disbursement or until a judgment of a court of competent jurisdiction shall
determine the rlghts of the parties, or Agent may deposit same wtth the clerk of the circuit covrt having jurisdlc1lonof the diSpute. M attomey Who represents
a party and also acts as Agent may represent such party In such action. Upon notifying an parties ooocerned of such action, all "ability on the part of Agent
shaY Ivly terminate, except to the extent 01 accounting for any noms prevtously delivered out of escrow. " a licensed real estate broker, Agent will comply with
provisions of Chapter 475, FS.. as amended. Nry suit between Buyer and Seller wherein Agent Is made a party becauliEl of acting as Agent here\llder, or In
erry suit wherein Agent interpl811ds the subject matter of the escrow, Agent shall 'lICOver reasonablc attorney's fees and costs incurred wlth these emounts to
be paid from and out 01 the escrowed funds or equivalent and charged and awarded es court cost8 'n favor of the prevalting party. The Agent shall nol be liable
to any party or person for mlsdelillery to Buyer or seller of Items subject to the escrow. unless such misdelivelY Is due to willful breach 01 the provisions of this
Contract 01 groes negligence of Agent.
R. ATTORNEY'S FEES; COSTS: In any litigatton, Including breach, enloroement or interpretation. arising out of this Contract, the prevallng party In such liti-
gation, which, for pUrposell of this WS IS' Standad. shall include Seller, Buyer and any brokerS acting In agency or nonagency rel8tlonshlps authorized by
Chapter 475, F.S., as amended, shell be entitled to recover from the non-prev8illng party reasonable attorney's feel;, costs and expen&e6,
S. FAILURE OF PERfORMANCE: If Buyer falls to pll!form this COntract within the time specified. Indudlng payment of all deposits, the deposl1(s) paid by
Buyer and deposit(s) agreed to be paid, may be recovered and retained by and for the account of Seller as agreed upon liquidated da'nages, consideration for
the BXacutlon of this Contract and in full sattlement of My clatns; whereupon, Buyer and SeIter shell be relieved of all obllgations under thls contract: or seller.
at Se1Ier's optlon, may proceed in eql.ity to enforce Seller's rights under this Contract. If lor any resson other than failure of Seller to make Seller's title mar-
ketable after dllgent effort, SeIer falls, neglects or refuses 10 perform this COrrtraot, Buyer may seek speCifIC performance or eIeCl to racelve the retum of Buyer's
deposlt(s) without thereby walving any action for damages resulllng from Seller's br9ach.
T. CONTRACT NOT RECOROA8LE; PERSONS BOUND; NOTICE; COPlES: Neither this COntract nor any notice of it shall be recorded In any public reoorde,
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
one gander shall inclUde al. Notice and delivery gillen by or to the attorney or broker representing any party shall be as effective as If glvsn by or to that party.
All notlce8 must be In writing and may be made by mail, personal delivery or electronic media. A legible fac8in11e or electronic (lnckJdlng .pOr) copy of this
COntract and any slgnllluras hereon shal be eonsldered for ell purposes as an original.
U, CONVEYANCE: Seller sh8l1 oorwey mart<etable title to the Real Property by statutory .illrrtlrAy, If\tetee'&, Jlllrlleflal "lJlI'98llflltitl'/e'e, er \lI>lWillflS desd, as
appropriate to the status of Seller, subject only to matters oootained in Paragrapl1 VII and those otherwlee eccepted by Buyer. Personal Property shell, III the
1'8CJlest of Buyer, be transferred by an absolute bin of sale with warranty of tille, subject only to such matters as may be otherwise provtcled for herein.
V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer 01 Seller unless included In this Contract. No mod-
Ification to or ehange in this contract shall be valid or binding vpon tho pm1les unless In writing and executed by the parties Intonded to be bound by It.
W. SELLER DISCLOSURE: (1) There are no facts known to Seller mater1a1tt aflecting the value of the Property which Ill'e not readily observable by Buyer 01
which have not been disclosed to Buyer; (2) Seller extend. and Intencl$ no WIIIl'lIIlty and mllkes no rept'8l18f1fl1t1on of any type, elfher fI1fP"'" or Implied,
es to the phyaIcaJ cond/1lOn or history of the Property; (3) seller ha$ received no written or ....",., notk;e from any 9Ov.mmel'ltRl entIf)r or agency a.
to a C:lIIT'OfItIy UIlCOI'I'8Cfed bul/dlflg, environmental or safety code violation; (4) Seller hu no knowledge of any repairs or Improvementl mttde to the
Property w/fhout oomp/iance with gov,mmtntaf regulation which have nOf been rJ/tf;/o$ed to Buyer:
X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seller shall maintain the Property, Including,
but not Imlted to lawn, shrubbery, and pool In the condItlon existing as of Effective Date, ordinary _ and tear and Casualty Loss excepted. Seller shall, upon
rvasonable notice, provide utilnles service and access to the Property for appralsaI and inspections, including 8 walk.through prior to Closing, to con1lrm that
all Items 01 Personal Property are on the Real Property and that the Property has been rnalntalned as reQuired by this 'AS IS' Standard. Seller wlq assign all
assignable repair and treatment contrecls and warranties to Buyer at Closing.
~~~~~:~~~Ii~ Ift::=r er 81#,oer vlteR tellAler IRle a like IvflEl B1lllFlaAlle (tliIRer slmll~Reetle \'.tlIR t;;leelAlI er aeflll'l'8S) \\lit! rfllllleet te tM PreJleAy
: _e _ I 1 f _ I . ~eveAlle Caele ('~lIil'), ttle ether /18ft} stlll" eeeJlerate IR all "lll8eR89ia reeJleets tB effeettllfte ltla eJl~~ ~~
~i tf;. ;;~;;'i;' ei ~~~~;;; ;1'9VkiI1Id (1) lAB eeeraera1lRg JlaAy shalllAewr RElIIB9111y sr 111Il_ lellftefl te tAB lOlIeABAle aAB (2) '*'a CI91M1I sheil Rift Be
WAtlRleAt "SA I A&r entBAseS er aelir/BS lii/ 8tteR ~eAaRge.
z. BUYER WAIVER OF ClAIMS: Buyer waivw. any claim. agRIn't S,lIer and, to the CMtent permitted by 1fIw, affJlttlt 11ft) I'fJfI/es'" ",1Jj ..el 1,,~"""'fI
in the negotidon of the Cont,..,;t, for any detect. or other dDmage that mey exist at Closing of the Contract and be 8Ub8equentfy rll8covererI by the
Buyer or an)/O,", cJalm/ng 011 tmugh, under or against the Buyer.
FARlBAR ASIS-2 Rev. 9107 C 2007 RorIda Associabon of Re,.t.LTORS" and The Florida Bar All Rights Reserved Page II of 5