As Is Contract for Sale and Purchase #3
TllIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS" AND TllE FLORIDA BAR
"As Is" Contract For Sale And Purchase
,
1. PARTlES:COLLIER COUNTY, a Political Subdivision of the State of Florida (~Seller"),
2" and Kevin Nelson Ackerman and Denise Renne Ackerman, husband and wife (-8uyer"),
3 hereby agree that Seller shall sell and Buyer shall buy Ihe following descl1bad Real Properly end Personal Properly (collectively "Property")
4 pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda rContract-);
S I. DESCRIPTION:
6" (a) Legal description of the Real Property located In COLLIER County, Florida: The South 180 feet of
7* Tract 47, Golden Gate Estates, Unit No. 22, plat Bk 7, Pgs 93-84, Public Records of Collier County, FL
B" (b) Street address, city, zip, of the Property: 3120 Wilson Boulevard, Naples, Florida 34120
9 (c) Personal Property Includes existing rangers). refrigerator(s), dishwasher(s), ceiling fan(s), light fixture(s), and window treatment(s) unless
10 specifically excluded below.
11* Other Items Included are: Washer I Dryer, Central Air Conditioning
12'
13'
14'
Items of Personal Property (and leased items, ff any) excluded are:
Not Applicable
lS' II. PURCHASE PRICE (U.S. currency): . . . . . . . . . . .
16 PAYMENl:
17* (8) Deposit hekj in escrow by Stewart Title Co. ("EscltlwAgent") in the amount of (checks subject to clearance) $ 1,000.00
18* Escrow Agent's address: 3916 Tamia.mi Tr. N., Suit.. A, Naples. FL 3410,) Phone:~39.~62-216J
19* (bl Additional escrow deposit 10 be made to Escrow Agent within"':'=--- days after Effective Date In the amount of. . . . . . , . . .
20. (c) Financing in the amount of ("Loan Amount") see Paragraph IV below . . . . . . . . , , .
21* (d) Other .*.*..!:?~~. :L.I.~~~. ,l,l,5, .TI;JF-P~qf!, +P. .
22 (e) Balance to close by cash, wire transfer or LOCALLY DRAWN cashiers or official bank check(s), sub.lect
23* to adjustments or prorations . ....,..............,....,.....,...,.."............,.,......
24 III. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE:
2S (a) If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in wr~lng between the penles on or
26* before 15 Days , the deposit(s) will, at 8uyer's option, be returned and thIs offer withdrawn. lfflless ether-
27 wi....taIN.-lh&-llme-lor aooeplanoe ,,'-any- counleroff""'-&I1aKbe-2-dey&lromlhedele--lhe-oounI"""""-iedetiv9l1ld.
26 (b) The date of Contract ("Effective Date") will be the date when the last one 01 the Buyer and Seller has signed or in~lated this offer or the
29 final counteroffer. ff such date is not otherwise set fonh in this Contract, then the "Effective Date" shell be the date determined above for
30 acceptance of this offer ""-~-awlIGabI9;--the-flnal__
31 IV. FINANCING:
32' a (a) ThIs is a cash transaction with no contingencies for financing;
33' QlI (b) This Contract Is contingent on Buyer obtaining written ioan comm~ment which confllms underwr~lng loan approval for a loan to purchase
34' the Properly ("Loan Approval") within _ days (If blenk, then 30 days) affer Effective Dale iLoan Approval Date") for (CHECK ONLY
35' ONE): ilia fixed; a an 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 ----"-"-_ years. Buyer will make application within _ days (IT blank, then 5 days) affer Effective Date.
37 BUYER: Buyer shal use reasonable diligence to: obtain Loan Approval: notify Setler in wrttlng 01 """,ipl 01 Loan Approval by Loan Approvet
38 Dale: satisly terms of the Loan Approval; and close the lean. Loan Approval which reculres a cond~1on reiated to the sa.. of other property shal
39 not be deemec Loan Approval for purposes of this subparagraph. Buyer shall pay all loan expenses. Buyer authorizes the mongage broker(s) and
40 lender(s) to disclose infonmation regarding the cond~lons, sfatus, and progress of ioan application and Loan Approval to Seller, Salier's attorney,
41 real estate IIcensee(s), and Closing Agent.
42 SELLER: if Buyer does not deUver to Sailer written notlca 01 Loan Approval by Loan Approval Data, Saller may thereafter cancel this Contrect by
43 dellveI1ng written notlca ("S_'s Cancellation Notice") to Buyer, but not Ialer then seven (7) days prior to Closing. Saller's Cancellation Notice shall
44 notlly Buyer that Buyer has Ihree (3) days to dallver to Saner written notice waiv<lg this Rnancing contingency, or the Contract shell be cancelled,
45 DEPOSIT(S) (for purposes 01 this Financing PII18gI'ap/1IV(b) only): ~ Buyer has used reasonable diligence but does not obtain Loan Approval
46 by Loan Approval Date, and the....fter either party elects to cancel this Contract, the deposit(s) shall be returned to Buyer. ~ Buyer obtains Loan
47 Approval or waives this Ananclng 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: (ij Seller's failure or refusal to close or Seller otherwise faNs to meet the tenns of the Contract, or ~ij Buyer's lender
49 fa~s 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) shan be
50 returned to Buyer,
51 * r:J (e) Assumption of existing mortgage (see rider for terms); or
52. r:J (d) Purchase money note and mortgage to Seller (see "As Is" Standards Band K and riders; addenda; or special clauses for terms).
S3" V, TITLE EVIDENCE: At ..ast ~ deys (W blank, than 5 days) before CioSW1g a m" insurance comm~ment with Iegib.. copies of ;,struments listed as
54 exceptions attached thereto ("Title Commitment'1 and, after Closing, an owner's polley of title Insurance (see Standard A for terms) shall be obtained by:
55' (CHECK ONLY ONE): a (1) Seier, at Selier's expense and delivered to Buyer or Buyer's attorney; or
S6' 01 (2) Buyer at Buyer's expense.
s1' (CH6CK-MER&}>-Qifan-abetfllGt-Gf.title-ls-to-be-ftJr-ni5hed inst__ol-tltlelnsurance,-and-attaoll-l1der-foHet'fT1&.
58' VI. CLOSING DATE: This transaction shall be closed and the cioslng doct.monts delivered on ..~"" T,TN" 11 9 ("Closing", unless
S9 modtfIed by other provisions of this Contract. In the event 01 extreme weather or other cond~lons or events const~uting '100:e rnajet.re", CIo&1g will be
60 extended a reasoneb.. time until: 00 restoration of utilities and other services essential to Closing, and 00 avaiabilly of Haza-d, Wind, Flood, or HOITl9O'M'l9I'S'
61' insurance. ~ suell condltloos continue more than _ days (If bklnk, then 14 days) beyond Ciosing Date, then either party may cancel this Contract.
$126,200.00
$ 2,786.00
$ 94,650.00
$ 27,764.00
$
0.00
FARlBAR AS1S-2 Rev. 9/07 iQ 2007 Florida Association of AE'ALTOA..... and The Florida Bar All Rights Reserved Page 1 of 5
62 VII, RESTRICTIONS; EASEMENTS; UMITATIONS: Seller shall convey marl<atable title subject to: comprehensive land use plans, zoning,
63 restrictkll1s, prohibhlons and other requirements Imposed by governmentel authol1ty; restrictions and matters appeal1ng on the plat or otherwise
64 common to the subdivision; outstanding 011, gas and minerai I1ghts ot record without I1ght of entry; unplatted pubilc utility easements of record
65 Ooceted contiguous to real property lines and not more than 10 feet In width as to the rear or front linas end 7 112 feet In width as to the side
65 lines); taxes for year of Closing and subsecuent yeers; and assumed mortgages end purchase money mortgages, if any rrt additional hams, see
67- addendum); provided, that there exlsts at Closing no violatIon of the foregoing and none prevent use of the Property for residential
68. purpose(s),
69 VtII. OCCUPANCY: Seller shall deliver occupancy of Property to Buyer at time ot Closing uniess otherwse steted herein. II P<ope"'110Int""d9<l
78 t~be-ten~oectJpIed beyefld-Blosingithelaetand_l_t<lfld.theienent{e)9Hl9<l_Is-__~_ IS. Stan<lard
71 !;-~_ detivered-beferoQoelng;-SbyeF-_atkieke-ot-lee6-1&PfOIJ9fly fromdet&<>l-oooYpeney, aRalloe reo_olble and 1ia0l0
72 fOHTlalflt,*",,-lromihet-dete; endshellbe__te-flav& aecepled-Pr""ertyiA-h""xistin!J.oonditlOR_ol tlm&oIlak1Ag-OGGUpaAG;\
73 IX, lYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewl1tten or handwrnten provisions, I1ders and addenda shali control all pl1nted pro-
74 visions of this Contract in conflict with them.
75" X, ASSIGNABILITY: (CHECK ONLY ONE): Buyer 0 may assjgn and thereby be released from any further liability under this Contract; 0 may
76- assign but not be released from lIablllty under this Contract; or ~ may not assign this Contract.
77 XI, DISCLOSURES:
78 (a) The Properly may ba subject to unpaid speciai assessment IIen(s) Imposed by e public body ("public body" does not include a
79 Condominium or Homeowners' Association). Such Hen(s), If any, whether certified, confirmed and ratified. pending, or payable in instaKments,
80" as of Closing, shall be paid as follows: 0 by Seller at closing ci' by Buyer (II left blank, then Seller at CloaIng), 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 estlmate 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.
65 (c) Mold is naturally occurring and may cause heahh risks or damage to property. II Buyer is concerned or desires add~ionallnfonmetlon
87 regarding mold. Buyer should contact an appropriate professional.
88 (d) Buyer acknowledges receipt of the Flol1da Energy-Efficiency Rating Infonmatlon Brochure reculred by Section 553.996, F.S,
89 (e) If the Real Property includes pre-I9l8 realdenliel housing, then a leed-besad paint I1der Is mendatory.
90 (Q If Seiler Is a "foreign person" as defined by the Foreign Investment", Real Properly 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 TlONlCOMMUNITY DISCLOSURE.
93 (h) PROPER1YTAX DISCLOSURE SUMMt\RY: BUYER SHOULD NOT RELY ON THE SB1.ER'S CURRENT PROPERTY TI'XES t>S THE AMOUNT
94 OF PROPERlY TIlXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNER-
95 S/-lP OR PROPER1Y IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN I-lGHER PROPER1Y TIlXES.
98 IF YOU HAVE MN OUESllONS CONCERNIr-Kl VALUATION, CONTACT THE COUNTY PROPERlY APPRAISER'S OFFICE FOR INFORMATION.
97 XII. MAXIMUM REPAIR COSTS: DELETED
98" XIII, HOME WARRANTY: 0 Seiler 0 Buyer li NlA will pay for a home warranty pian issued by
99* at a cost not to exceed $ .
100" XIII. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have 2- days from Effective Date ("Inspection Pariod") 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 tennlnatlon 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 Suyer 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 Paragreph XIV. Unless Buyer exercises the right to cancal
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
I 1 0 required by Buyer's lender.
111 XV, RIDERS; ADOENDA; 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' t>SSN. 0 LEAD-Bt>SED PAINT 0 COASTAL CONSTRUCTION CONTROL LINE
113" 0 INSULATION 0 EViDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions 0 Addenda
"4" Special Clause{s):
115.**Buyer will receive $37,860 from the Collier County Neighborhood Stabilization Program. Buyer will use
116* $27,764 (22% of the purchase price)for principal reduction and the remaining balance of $10,096 will be used
117* for closing costs, prepaid items, and any diacount points associated with the first mortgage transaction.
118'*
119***The transaction shall be closed on or before ninety (90) days from the effective date.
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122*
123*
124*
125*
126 XVI. "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS ("AS IS" Stendards): Buyer and Seller acknowledge receipt of a copy
127 01 ~AS IS" Standards A through Z on the reverse side or attached, which are Incorporated as part of this Contract.
FARlBAR ASIS-2 Rev. 9107 C 2007 Aorida Association of REALTORS- and The Florida Bar All Rights Reserved Page 2 of 5
128
129
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING,
130 THIS "AS IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS" AND THE FLORIDA BAR.
131 Approval does nol constitute an opinion that any of the terms and conditions in this Contract shouid ba accepted by the parties In a
132 particular transactIon. Terms and condItions should be negotiated based upon the respective Interests, objectives and bargaining
133 positions of all Interested persons.
134 AN ASTERISK(") FOllOWING A LINE NUMBER iN THE MARGIN INDICATES THE LINE CONTAINS A BlANK TO BE COMPLETED.
135' - /~~~ . G-. 1,;1-17 -:)0/(/seller Signature aelow
1"36 (BUYER) Kevin Nelson Ackerman (DATE) (SELlER) (DATE)
1:)7"';"1),- ..<...R,I=1~h--.~~ _ f;;'''/7-'J,Oiaseller Signature Below
138 (BWER) Denise Renne Ackerman (DATE) (SELLER) (DATE)
139* Buyers' address for purposes of notice 649 91st Avenue North, Sellers' address 10r purposes of notice c/o cc RPM, 3335
140. Naples, FL 34108 Tamiami Tr E, Suite 101, Naples, FL 34112-5356
141'* 239-398-1324 Phone (239) 252-8991 Phone
142 BROKERS, The brokers Qncludlng cooperBting brokers, nany) named baloware the only brokefS entitled to compensation In connection with
143 thi& Cont,OO!;
144' Name:-
146 Coop.....llng Broke"" i~llflY Li8linltBrokOf
CONVEYANCE APPROVED BY Bce:
DECEMBER 1, 2009 - ITEM 178 & MAY 11, 2010 - ITEM 16D1
DATED:
/2-/2..0 /:20/ t)
. I
ATTEST:
, . 1 "'''''~
SELLER:
BOARD OF COUNTY COMMISSIONERS
COLLIE~ C~TY. FLORIDA
. l ~ JL t,,). c,,-.~\
BY: _
Fred W. Coyle, Chairman ( ,
,- "''',
~DWIGHT E.,'ilRO'C.K.. '.". (
,.,......~~
A .U,~ ,~P~4~ .
119n.tUr.~.?!,P~'/ .
,,'
J iter B. White,
Assistant County Attorney
Property Address: 3120 Wilson Boulevard, Naples, FL 34120
FAR/BAR ASIS-2 Rev. 9/07 C 2007 Florida Association of REALTORS- and The Florida Bar All Rights Reserved Page 3 of 5
146 "AS IS. STANDARDS FOR REAL ESTATE TRANSACTIONS
147 A. TITLE INSURANCE: The Title Commitment shall be Issued by a Florida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer.
'48 an owner's policy of title insurance in the amount of the purchase price, insuring Buyer's marketable title to the Real Property, subject only to matters contained
149 in Paragraph VII and those to be discharged by Seller at or before Closing. Marketable title shall be determined according to applicable Title Standards adopt-
150 ad by authority of The Florida Bar and In accordance with law. Buyer shall have 5 days trom date of receiving the TItle Commitment to examine it, and if title is
151 found defective. notify Seller in writing specifying defect(s) which render title urmarketable. Seller shall have 30 days from receipt of notice to remove the
152 defects. failing which Buyer shall, within 5 days after expiration of the 30 day period, deliver written notice to Seller either: (1) extenc::ling the time for a reason-
153 able period not to exceed 120 days within which SeHer 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 to so notify Seller, Buyer shall be deemed to have accepted the title as it then is. Seller shall, if title is found unmarketable,
155 use diligent effort to correct defect(s} within the time provided. If, after diligent effort, Seller is unable to timely correct the defects, Buyer shall either waive the
'56 defects. or receive a refund of deposit{s), thereby releasing Buyer and Seller from all further obligations under this Contract. If seller Is to provide the Title
157 Commitment and it Is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer shall have up to 5 days from date of receipt
158 to examine same in accordance with this -AS IS- Standard.
159 B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage note to Seller shall provide for a
160 30 day grace period in the event of default if a flrst mortgage and a 15 day grace period if a second or lesser mortgage; shaH provide for right of prepayment
161 in whole or in part without penalty; shall permit acceleration in event of transfer of the Real Property; shall require all prior liens and encumbrances to be kept
162 in good standing; shall forbid modifications of, or future advances under, prior mortgage(s); shalt require Buyer to maintain policies of insurance containing a
163 standard mortgagee clause covering aU Improvements located on the Real Property against fire and an perils Included within the term "extended coverage
164 endorsements" and such other risks and perils as Seller may reasonab!y require, in an amount equal to their highest insurable value; and the mortgage, note
165 and security agreement shall be otherwise in form and content required by Seller, but SeHer may only require clauses and coverage customarily found in mort-
166 gages, mortgage notes and security agreements generally utilized by savings and loan institutions or state or national banks located In the county wherein the
167 Real Property is located. All Personai Property and~ase&beiAg-ooFWeyed-Grassigned will, at Seller's option, be Subject to the lien of a security agreement evi-
158 denced by recorded or filed financing statements or certificates of title, If.aballoonmortgago, theflnal.paymentwill exceedtneperiodic.paymentsther90n.
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 SUlYeyed and certi.
170 fied by a registered Florida surveyor. If the SUlYey discloses encroachments on the Real Property or that improvements located thereon encroach on setback
171 Jines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a title defect.
172 D. WOOD DESTROYING ORGANISMS: DELETED
173 E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as described
174 in Paragraph VII hereof and title to the Real Property is insurable in accordance with "AS IS. Standard A without exception for tack of legal right of access.
175 F. lEASES:.-8eH6f-ehaH.at",leaet".W"daY9oofore-Closing,.furnisl1to8uycr.oopios-of aII-wrltton-loosoeandostoppol--lottOfS.ffOl'fteaol1-1enallt.spectfyingttle-nature
176 anddurotioI1QHhclcnont-'sooouponcy;rontaf.fatooi advanood"R3fltaAdooourity.depoeft8paid--by.tonant-:-.ffSe~18 unable-to-obtain.SUGhletterfrom.each-t6A-
171 8f\to.the-seme'.infOffl'latien-snaH-bc--furniGhed-by-&;:lIcfto.BtlYef-within-thDt-t-imQ.pcnodin-thoform-of''6.Sellef-&offidavit,.and-Buyer-may-t-nereafteF'OOI'Itaot-tan-
178 ant"'to"confirm such information,-If-thotorms of tho Ioooos"differrnatorial/yfrom Soller's r-opro60ntations,- Buyormay terminatathi& ContFaCtby delivering wtitten
1-79 notieo-to S()nerat\cost-6-day&-J;N".jQf-lo-GIooiAtJ:.~IosiA~~-tG-8odyeI;
180 G. LIENS: Seller sI'lall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided f()( herein, of any financing statement,
181 claims of lien or potentiallienors known to Seifer 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 Ihat time, Seller shall deliver releases or waivers of construction
183 liens executed by all general contractors, subcontractors, suppliers and materialmen in addition to Seller's lien affidavit setting forth the names of all such gen.
184 eral contractors, subcontractors, suppliers and materialmen, further affirming that all Charges for 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 in the county wherein the Real Property is located at the offICe of the attorney or olher closing agent ("Closing
187 Agent") designated by the party paying for title Insurance, or, if no title insurance, designated by Seller.
188 I, TIME: Calendar days shalt be used In computing time periods except periods of less lhan six (6) days, in wtich event Saturdays, Sundays and state or nation-
189 allegal holidays shaM be excluded. Any lime periods provided for herein W'hich shaH 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. *Statutory Deed Bill of Sale
191 J. CLOSING DOCUMENTS: Seller shall furnish the dood,biRiM-soI&,~oertifieate'oftiUe, construction lien affidavit, owner's posseSSion affidavit, oosigAmeAl:&Qf.,Ieafr
1-Ga OO;,tcAant-ilAd.fflOftgagee..esteppel-.JettOfe 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 SelIef."'AII costs of Buyer's loan (whether obtained "'Buyer
194 from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mort9age assumed,
195 mortgagee t~le insurance commitment with rolated fees, and recording of purchase money mortgage, deed and financing statements shalt be paid by Buyer.
196 Unless otherwise provided by law Of -ridof-to.....hiG..contraet, charges for related closing services, title search, and closing fees (including preparation of closing
197 statement), shaH 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 shaN have the option of taking over existing policies of insurance, if assumable, in W'hich event premiums shall be prorated. Cash at Closing shall be
200 increased Of 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 albwance made for maximum allowable discount, homestead and other exemptions. If Closing occurs at a date when the currenl 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 yeas-'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 1st of year of Closing,
205 which improvements were not in existence on JW1uary 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 VYhich, request shall be made to the County Property Appraisef for an informal assessment taking into
207 account available exemptions. A tax proration based on an estimate shall, at request of either party, be readjusted upon receipt of current year's tax bill.
208 M. (RESERVED ~ purposely left blank)
209 N. INSPECTION AND REPAIR: DELETED
210 O. RISK OF lOSS: If, aftar the Effective Data. 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 tile terms af this Contract, and if restoration is not completed as of Closing, restoration costs win 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 an further obiigations txlder this Contract. Seller's sole obligation 'Nith 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 shail 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 18" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)
219 closing procedures shall apply: (1) all closing proceeds shall be held in escrow by the Closing Agent for a period of not more than 5 days aner Closing; (2)
220 if Seller's title is rendered unmarketable. through no fault of Buyer, Buyer shall. within the 5 day period, notify Seller in writing of the defect and Seller shall
221 have 30 days from date of receipt of such notification to cure the defect; (3) if Seller fails to timely cure the defect, all deposits end closIng funds shall, upon
222 written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall return the PersonBl
223 Property, vacate the Real Property and reconvey the Property to Seller by special warranty deed and bill of sale; and {4} If Buyer falls to make timely demand
224 for refund, Buyer shalt take title as is, waiving all rights against Seiter as to any intervening defect except as may be available to BUYBf by virtue of war-
225 ranties contained in the deed or bill of sale.
226 a. ESCROW: Any Closing Agent or escrow agent (collectively "Agent~) receiving funds or equivalent is authorized and agrees by acceptance of them to deposit
227 them promptly, hold same in escrow and, subject to clearance, disburse them in accordance with terms and conditions of this Contract Failure of funds to
228 claar shall not excuse Buyers performance. If in doubt as to Agent's duties or liabilities under the provisions of this Contract, Agent may, at .A.gent's option, con-
229 linue to hok:lthe subject matter of Ihe escrow untit the parties hereto agree 10 its disbursement or until a judgment of a court of competent Jur~dictk>n shall
230 dotermine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction oflhe dispute. An attorney who represents
231 a party and also acts as Agent may represent such party in such action. Upon notifying all parties concerned of such action, all liability on the part of Agent
232 shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. .If a licensed real estate broker, Agent wW comply with
233 J:'rovlsions 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 maner of the escrow. Agent shali recover reasonable attorney's fees and costs incurred with these amounts to
235 be paid from and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party, The Agent shall not be liable
236 to any party or person for misdelivery to Buyer or Seller of Items subject to the escrow, unless such misdelivery is due 10 willful breach of the provisk>ns oflhis
237 Contract or gross negligence of Agent.
238 R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract. the prevailing party in such Iiti-
239 gation, which, for purposes of this ~AS IS" Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relatk>nships authorized by
240 Chapter 475, F.S., as amended, shall be entitled to recover from the non-prevailing party reasonable attomey's fees, costs and expenses.
241 S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by
242 Buyer and deposil(s) agreed to be paid, may be recovered and retained by and tor the account of Seller as agreed upon liquidated damages, consideration for
243 the execution of this Contract and in full settlement of any claims; whereupon, Buyer and SeHer shall be relieved of all obligations under this Contract; or Seller,
244 at SelIer's option, may proceed in equity to enforce Seller's rights under this Contract. If for any reason other than failure of Seller to make Seller's title mar-
245 ketable after diligent effort, Seller fails, neglects or refuses 10 perform this Contract. Buyer may seek specific pertormance or elect to receive the return of Buyer's
246 deposit(s) without thereby waiving any action for damages resulting from Seller's breach.
247 T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any notice of it shalt be recorded in any public records.
248 This Contract shall bind and Inure 10 the benefit of Ihe parties ano their successors In interest. Whenever the context permits, singular shall include plural and
249 one gender shaH include all, Notice and delivery given by or to the attorney or broker representing any party shaN be as effec1ive as if given by or to that party.
250 All notk;es must be in writing and may be made by mail, personal delivery or electronic media. A legible facsimile or electronic (including Mpdfj 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 Reel Property by statutol)' warf8flty,tr..usteea,~epreseAtatW&&i-~.guardIaFHJ deed, as
25'3 appropriate to the status of Seller, subject only to matters contained in Paragraph VH and those otherwise accepted by Buyer, Personal Property shalt, at the
254 request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only 10 such matters as may be otherwise provided for herein.
255 V. OTHER AGREEMENTS: No prior or present agreemonts or representations shall be binding upon Buyer Of Seiler unless included in tt'1is Contract No mod-
256 Iflcatlon to or change In thls Contract shall be vaUd or binding upon the parties unless in writing and executed by the parties intended !o be bound by it.
257 W. SELLER DISCLOSURE: (1) TIlers are no facts known to Seller materially affecting the value of the Property which are not read~y observable by Buyer or
258 which have not been disclosed to Buyer: (2) Seller extends and Intends no warranty and makes no repraentation of any type, either express or Implied,
259 as to the physical condition or history of the Property; (3) Seller hu received no written or verbal notice from any governmental entity or agency as
260 to B currently uncorrected building, envlronmentaJ or 5lJrety code viOlation; (4) Seller has no knowledge of any repairs or improvements made to the
261 Property without compliance with governmental regulation which have not been disclosed to Buyer.
262 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seller shall maintain the Property, Includ"g,
263 but not limited to lawn, shrubbery, and pool in the condition existing as of Effective Dale, ordinary wear and tear and Casualty Loss excepted, Seller shalt, upon
264 reasonable notice, provide utilities service and access to the Property for appraisal and inspections, inclooing a walk-through prior to Closing, to confirm that
265 all items of Persona! Property ate on the Real Property and that the Property has been maintained as required by this "AS IS. StandaTd. Seller will asslgn elf
266 assignable repair and treatment contracts and warranties to Buyer at Closing.
267 Y~"lQ3-1exGHANGEHf"eithef~ScBer.Of8uYOFWioh,to"cnI0f-tnte-a'like.kind{)xohongc(eithof,oimuItOflCOU5-with"CtoeingOf-dofOfrcd}wfthrespoot-ta-Ihe-Propefty
268 UAder.SeotioA-,.03-t-.of--the.fflterM"Revenue-Code-(~Exohange~,-theother-party.6he>>OOOp8fate!n'a>>-reasonable-feepeG'8.to-effBGWate"the-ExElRaflQ6r-~
269 ~eI-~\j4Ilo.coo~atl"tH)"fIy_j"""'.n<Hiabilill''''.e>lp9flso._~theExehaf1ge<lf1d.{2)-the~bo
279 OOfl'iAgent.__Oflded",.d,;aye<j.by,<luGt>_go,
271 Z. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by law, against-anyreaJe6tate'Ioemee-in'lOlwJd
272 in the negotiation of the Contract, for any defects or other damage that may exist st Closing of the Contract and be subsequentfy discovered by the
273 Buyer or anyone claimfng by, through, under or against the Buyer.
FARlBAR ASIS.2 Rev. 9/07 02007 Florida Association 01 REALTORS- and The Aorida Bar All Rights Reserved Page 5 of 5