Navarro Contract #1
MEMORANDUM
Date:
April 25, 2011
To:
Gary Bigelow, Property Acquisition Specialist
Facilities Management Department
From:
Martha Vergara, Deputy Clerk
Minutes & Records Department
Re:
NSP - "As Is" Contract for Sale and Purchase
Address: 5410 26th Avenue SW, Naples, 34116
Attached is an original as referenced above, (Item #16D1) approved by the Board
of County Commissioners on February 11, 2010.
Please return the Recorded Original to the Minutes & Records Department
where it will be kept as a part of the Board's Official Records.
If you have any questions, please contact me at 252-7240.
Thank you.
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 routing slip and original
documents are to be forwarded to the Board Office only after the Board has taken action on the item.)
ROUTING SLIP
Co~plete routing lines #1 through #4 as appropriate for additional signatures, dates, and/or information needed. If the document is already complete with the
exee tion of the Chairman's signature, draw a line throu routin lines #1 through #4, complete the checklist, and forward to Sue Filson (line #5).
Rpute to Addressee(s) Office Initials Date
(I .ist in routing order)
1.
(The primary contact is the holder of the original document pending BCC approval. Normally the primary contact is the person who created/prepared the executive
summary. Primary contact information is needed in the event one of the addressees above, including Sue Filson, need to contact staff for ad~itional or missing
information. All original documents needing the BCC Chairman's signature are to be delivered to the BCC office only after the BCC has acted to approve the
item.) "
Name of Primary Staff
Contact
Agenda Date Item was
Ap roved by the BCC
Type of Document
Attached
2.
t /2.1. I
3.
4.
5. Ian Mitchell, BCC Office
Supervisor
6. Minutes and Records
Board of County Cominissioners
Clerk of Court's Office
,J
013
,/78,
1(0 z:> /
/
Yes
(Initial)
NIA (Not
Ap Iicable)
PRIMARY CONTACT INFORMATION
Phone Number
Agenda Item Number
Number of Original
Documents Attached
"~
I: Forms! County Forms! BCC Forms! Original Documents Routing Slip WWS Original 9.03.04, Revised 1.26.05, Revised 2.24.05, Revised 9.18.09
INSTRUCTIONS & CHECKLIST
Initial the Yes column or mark "N/A" in the Not Applicable column, whichever is
appropriate.
1. 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 ofthe 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 Bee
Chairman and Clerk to the Board and possibly State Officials.)
All handwritten strike-through and revisions have been initialed by the County'Attorney's
Office and all other parties except 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 negotiated contract date whichever is applicable.
"Sign here" tabs are placed on the appropriate pages indicating where the Chairman's
signature and initials are required.
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 aware of your deadlines!
6. The document was approved by the BCC on (enter date) and all changes
made during the meeting have been incorporated in the attached document. The
Count Attorne 's Office has reviewed the chan es, if a licable.
2.
3.
4. ::
5.
-
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATI
-
"As Is" .
"As Is" Contract For Sale And Purchase
J. t . - . . ~ J . __ - I . _' ~ I 1 I I I ._ _ _
1* PARTIES: COLLIER COUNTY, a Political Subdivision of the State of Florida ("Sellerj,
2* and GEORGINA MONTELL NAVARRO, a single woman ("Buyerj,
3 hereby agree that Seller shall sell and Buyer shall buy the following described Real Property and Personal Property (collectively "Property")
4 pursuant to the terms and conditions of this Contract fOr Sale and Purchase and any riders and addenda ("Contract"):
5 I. DESCRIPTION:
6* (a) Legal description of the Real Property located In COLLIER County, Florida: Lot 9, Block 223,
7* Golden Gate Unit 6, Part I, recorded in Plat Book 9, Pages 1 through 7, Collier County, Florida.
8* (b) Street address, city, zip, of the Property: 5410 26th Avenue SW, Naples, Florida 34116
9 (c) Personal Property includes existing range(s), refrlgerator{s), dlshwasher(s), ceiling fan(s), light fixture(s), and window treatment(s) unless
10 speciflcally excluded below.
11* Other items Included are: Microwave, Washer &: Dryer from previous owner, Central Alc, Pool pumps and filters,
12* and Garage Door opener.
13* Items of Personal Property (and leased items, if any) excluded are: Not Applicable
14*
15* II. PURCHASE PRICE (U.S. currency):. . , . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 147,800.00
16 PAYMENT:
17* (a) Deposit held n escrow by St ewart Ti t 1 e Co. ('Escrow Agent1 in the amount of (checks subject to clearance) $ 1, 000 . 00
18. Escrow Agent's address: 3936 Tamiami Tr. N.. Suite A. Naples. FL 34103 Phone: 239-262-2163
19* (b) Additional escrow deposit to 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 rv below . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
21* (d) Other .*.*.111?Ji:. :L.I.~!il. ;t.l.~ .~P~~ij. H? .. '" .. .. .. . . . .. . .. .. .. .. . .. .. . . . .. ... .. .... .. .. .. .. . . . .... .
22 (e) Balance to close by cash, wire transfer or LOCALLY DRAWN cashier's or official bank check(s), subject
23*. to adjustments or prorations. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
24 III. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE:
25 (a) If this offer Is not executed by and delivered to aU parties OR FACT OF EXECUTION communicated In writing between the parties on or
26* before 15 days , the deposit(s) wnl, at Buyer's option, be returned and this offer withdrawn. UAless ether-
27 wise statedr-the-time-feF-aGGeptaAGe-G~llntefoffeF8-&haJl..b&..2-day&-from--the-Gate-thlHleYnteR)ff8F-i&-dellvered..
28 (b) The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed or Initialed this offer or the
29 final counteroffer. If such date is not otherwise set forth in this Contract, then the "Effective Date" shall be the date determined above for
30 acceptance of this offer er,#-afll}licable, tOO final cOLlntoroffer.
31 IV. FINANCING:
32* r:J (a) This Is a cash transaction with no contingencies for financing;
33* ~ (b) This Contract Is contingent on Buyer obtaining written loan commitment which confirms underwriting loan approval for a loan to purchase
34* the Property ("Loan Approval") within _ days (If blank, then 30 days) after Effective Date ("Loan Approval Date") for (CHECK ONLY
35* ONE): r2i a fixed; r:J an adjustable; or r:J 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 (rt blank, then 5 days) after Effective Date.
37 BUYER: Buyer shall use reasonable dirJgerlC8 to: obtain Loan Approval; notify Seller in writing of receipt of Loan Approval by Loan Approval
38 Date; satisfy terms of the Loan Approval; and close the loan. Loan Approval which requires a condition related to the sale of other property shaI
39 not be deemed Loan Approval for purposes of this subparagraph. Buyer shall pay all loan expenses. Buyer authorizes the mortgage broker(s) and
40 Iender(s) to disclose information regardIng the conditions, status, and progress of loan appication and Loan Approval to Seller. SeIler's attorney,
41 real estate Iicensee{s), and Closing Agent.
42 S8.LER: If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may thereafter cancel this Contract by
43 delivering written notice ("Sellers Cancellation Notice") to Buyer, but not later than seven (7) days prior to Closing. Seier's Cancellation Notice shall
44 notify Buyer that Buyer has three (3) days to derIVer to Seller written notice waiving this Rnanclng contingency, or the Contract shall be c:ooceBed.
45 DEPOSIT(S) (for purposes of this Financing Paragraph 1V(b) only): If Buyer has used reasonable diigence but does not obtain Loan Approval
46 by Loan Approval Date, and thereafter either party elects to cancel this Contract, the deposit(s) shall be returned to Buyer. If Buyer obtains Loan
47 Approval or waives this Rnanclng contingency, and thereafter the Contract does not close, then the deposit(s) shal be paid to SeIer; provided how-
48 ever, if the failure to close Is due to: (i) SelIer's failure or refusal to close or Seller otherwise falls to meet the terms of the Contract, or (ii) Buyer's lender
49 fais 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) shaI be
50 returned to Buyer.
51* r:J (c) Assumption of existing mortgage (see rider for terms); or
52* r:J (d) Purchase money note and mortgage to Seller (see "As Is. Standards B and K and riders; addenda; or special clauses for terms).
53* V. TITLE EVIDENCE: At least -2.. days (If blank, then 5 days) before Closing a title hsurance commitment with legible copies of hstnments listed as
54 exceptbns attached thereto ("rltle Commitment") and, after Oosing, an owrer's policy of title insll"ance (see Standard A for terms) s/"eIl be obtained by:
55* (CHECK ONLY ONE): I:) (1) Seller, at Sener's expense and delivered to Buyer or Buyer's attorney; or
56* ~ (2) Buyer at Buyer's expense.
57* (CHECK-HER~straGt-Gf..tille..ls to be fuFfllshee-lAst~ce, and attaetHi6BF-feF-teFm&
58* VI. CLOSING DAlC: ms transactlon shall be cIosecl and the closing cJocunents cJerlVel'Eld on ** SEE LINE 11 9 ("ClosIng"), unless
59 mcxitied by other prtMsions of this Contract. In the event of extreme weather or other conditions or events constituting "force majeU'e., Closi1g wi. be
60 extended a reasonable time until: (i) restoration of utities and other services essential to Ooshg, and (ii) avaIablity of Hazad, Wind, Flood, or Homeowners'
61* instrcnee. If such concfrtions continue more than _ days (If bIari<, then 14 days) beyond Closing Date, then either party may cancel this Contract.
$ 3,434.00
$110.850.00
$ 32,516.00
0.00
FARIBAR ASIS-2 Rev. 9/07 C 2007 FIortda Association of REAlTORS- and The Florida Bar AI Rights Reserved Page 1 of 5
\.
.'
62 VII. RESmlCTlONSj EASEMENTS; LIMITATIONS: Seller shall convey marketable title subject to: comprehensive land use plans, zoning,
63 restrictions, prohibitions and other requirements Imposed by governmental authority; restrictions and matters appearing on the plat or otherwise
64 common to the subdivision; outstanding 011, gas and mineral rights of record without right of entry; unplatted public utility easements of record
65 (located contiguous to real property fines and not more than 10 feet in width as to the rear Of front lines and 7 1/2 feet In width as to the side
66 lines); taxes for year of Closing and subsequent years; and assumed mortgages and purchase money mortgages, If any Of ~dditlo~al items, see
67- addendum); provided, that there exists at Closing no violation of the foregoing and none prevent use of the Property for res~dent~al
68- 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
Tf.j to be rented or occupied beyo"EI Clo:!i"!!, tllo feet ana torms tReffiof and tho teFlant(s) or aeoupaRts shall be dlselesed ~ure:uant to "AS IS. Standard
1'1 F. If oceupanC'i is to be eeliverea before Closing, BLF/or assumes all risle of loss to Preperty from date of aSGblFl3nC'j. shall se fespel1sible aOO-liable
~ fef-melnteFl6nce !rem that data, and shall ee deemed ta have aoocpteel PropElfty IR its Ol<isting oonditlon as of time 9f taklng OOGblpancy.
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 a may assjgn and thereby be released from any further liability under this Contract; a may
76" assign but not be released from liability under this Contract; or i!!I may not assign this Contract.
77 XI. DISCLOSURES:
78 (a) The Property may be subject to unpaid special assessment lien(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,
80- as of Closing, shall be paid as follows: a by Seller at closing cJ by Buyer Qf left blank, then Seller at Closing). If the amount of any
81 assessment to be paid by Seller has not been finally determined as of Closing, Seller shall be charged at ClosIng an amount equal to the
82 last estimate or assessment for the improvement by the pUblic body.
83 (b) Radon Is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to per-
84 sons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found In buildings In Rorida.
85 Additional information regarding radon or radon testing may be obtained from your County Public Health unit.
86 (c) Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or desires additional information
87 regarding mold, Buyer should contact an appropriate professional.
88 (d) Buyer acknowledges receIpt of the Florida Energy-Efficiency Rating Information Brochure require<:: by Section 553.996, ES.
89 (e) If the Real Property includes pre-1978 residential housing, then a lead-based paint rider Is mandatory.
90 (~ If Seller Is a .foreign person" as defined by the Foreign Investment in Real Property Tax Act, the ~''''.I1ies shall comply with that Act.
91 (g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIA-
92 TlON/COMMUNITY DISCLOSURE.
93 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT R8...Y ON THE S8.LER'S CURRENT PROPERlY TAXES p.s THE Atv10UNT
94 OF PROPERTY TAXES THAT THE BUYER Mt\Y BE O8IJGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCH.A.SE. A CKlWGE OF OWNER-
95 SHIP OR PRCPER1Y IMPROVEMENTS TRJC3GERS REASSESSMENTS OF THE PROPERTY-THAT COULD RESULT IN HIGHER PROPERTY TAXES.
96 IF YOU HAVE AAN QUESllQl.JS CONCERNING VALUA1l0N, CONTACT THE COJNTY PROPERTY APPRAISER'S OFRCE FOR INFORMt\llON.
97 XII. MAXIMUM REPAIR COSTS: DELETED
98- XIII. HOME WARRANTY: a Seller a Buyer ~ N/A will pay for a home warranty plan Issued by
99- at a cost not to exceed $ .
100- XIV. INSPECTION PERIOD AND RIGHT TO CANCEL: (a) Buyer shall have ~ days from Effective Date ("Inspection Period") within
101 which to have such Inspections of the Property performed as Buyer shall desire and utilities service shall be made available by the
102 Seller during the Inspection Period; (b) Buyer shall be responsIble for prompt payment for such Inspections and repair of damage
103 to and restoration of the Property resulting from such Inspections and this provision (b) shall survive termination of thIs Contract;
104 and (c) if Buyer determines, In Buyer's sole discretion, that the Property Is not acceptable to Buyer, Buyer may cancel thIs Contract
105 by delivering facsimile or written notice of such election to Seller prior to the expiration of t~e Inspection Period. " Buyer timely
106 cancels this Contract, the deposit(s) paid shall be Immediately returned to Buyer; thereupon, Buyer and Seller shall be released of
107 all further obligations under this Contract, except as provided In this Paragraph XIII. Unless i3uyer exercises the right to cancel
108 granted herein, Buyer accepts the Property In Its present physical condition, subject to any violation of governmental, building,
109 environmental, and safety codes, restrictions or requirements and shall be responsible for any and all repairs and improvements
110 required by Buyer's lender.
111 xv. RIDERSj ADDENDAj SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to and made part of this Contract:
112- a CONDOMINIUM a VNFHA a HOMEOWNERS' ASSN. a LEAD-BASED PAINT a COASTAL CONSTRUCTION CONTROL UNE
113- a INSULATION 0 EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) a Other Comprehensive Rider Provisions Q Addenda
114- Special Clause(s):
115- "'Buyer will receive $44,340 from the Collier County Neighborhood Stabilizatioi, Program. Buyer will
116- 32 516 (22\ of the urchase ricelfor rinci al reduction and the remainin ~alance of$11,824 will be used
117- for closing costs, prepaid items, and any discount points associated with the fh'st mortgage transaction.
118-
119- -*The transaction shall be closed on or before one-hundred eighty (180) days of-the effective date.
120.
121-
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125.
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. 9107 C 2007 Florida Association of REALTORS- and The Florida Bar AI Rights Reserved Page 2 of 5
128 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
129 SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. ,
130 THIS "AS IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIAllON OF REALTOR!::" AND THE FLORIDA BAR.
131 Approval does not constitute an opinion that any of the terms and conditions in this Contract shoub be accepted by the parties in a
132 particular tr ction. Terms and conditions should be negotiated based upon the respective Int6rests, objectives and bargaining
133 positIons of aJllnterested persons. .
134 A UNE NUMBER IN THE MARGIN INDICATES THE UNE CONTAIN~ A BLANK TO BE COMPLETED.
~J'~,;jl' Seller Signature Below
~ (SELLER) (DATE)
137. Seller Signature Below
138 (BUYER) (DATE) (SELLER) (DATE)
139. Buyers' address for purposes of notice 4537 CORAL PALMS LANE, Sellers' address for purposes of notice c/o RPM, 3353 Tamiami
140. #8, NAPLES, FL 34116 Trail East, Suite 101, Naples, FL 34112-5356
14'. CELL -239-601-8259 Phone (239) 252-8991 Phone
142 BROKERS: The brol(ers ~AoludiRg eoopemtiAg l3rokefs, if aAY) namoo below are the only brokofEi entltloo to Gornpsnsatlon in OGAASGtion with
143 this CORtmot:
~ Name.
l4a CeeperutlAg BrokeFS, If any UStlAg Broker
CONVEYANCE APPROVED BY BCC:
DECEMBER I, 2009 - ITEM 17B AND MAY 11,
DATED: A-/fz/~ 2-2.--/ 2CJ11
2010 - ITEM 16D1
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ATTEST.:..""......... ';.." If,U J..
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DWIGHT ~"--~lttiCK ..... C',...
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SELLER:
BOARD OF COUNTY COMMISS':'5NERS
B:U"~W: ~
Fred W. Coyle, Chairman
BY:
Approved as to form
and legal sufficiency:
~:~if~~i}J k*-' J
Assistant County Attorney
Property Address: 5410 26th Avenue SW, Naples, Florida 34116
FARI8AR ASIS-2 Rev. 9/07 <<:> 2007 Florida Association of REAlTORS. and The Florida Bar All Rights Reserved Page 3 or 5
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"AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS
A. TITLE INSURANCE: The Title Commitment shall be issued by a Rorida licensed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer,
an owner's policy of title insurance in the amount of the purchase price, In~uring 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 before Closing. Marketable title shall be determined according to applicable Title Standards adopt-
ed by authority of The Rorida Bar and in accordance with law. Buyer shall have 5 days from date of receMng the Titla Commitment to examine it, and if title is
found defective, notify Seller in writing specifying defect(s) which render title unmarketable. Seller shall have 30 c-eys from receipt of notice to remove the
defects, failing which Buyer shall, within 5 days after expiration of the 30 day period, deliver written notice to Seller '.lither: (1) extending the time for a reason-
able period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) reques~i'19 a refund of deposit(s) paid which shall
be returned to Buyer, If Buyer fails to so notify Seller, Buyer shall be deemed to have accepted the title as it then i~. Seller shall, if title is found unmarketable,
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
defects, or receive a refund of deposit(s), thereby releasing Buyer and Seller from all further obligations under thi.~ Contract. If Seller is to provide the Title
Commitment and it is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer s1aJI have up to 5 days from date of receipt
to examine same in accordance with this "AS IS. Standard.
B, PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SEllER: A purchase money mortgage and mortgage note to Seller shall provide for a
30 day grace period in the event of default if a first mortgage and a 15 day grace period if a second or lesser mortgage; shall provide for right of prepayment
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
in good standing; shall forbid modifications of, or Mure advances under, prior mortgage(s); shall require Buyer to maintain policies of insurance containing a
standard mortgagee clause covering all improvements located on the Real Property against fire and all perilS included within the term "extended coverage
endorsements" and such other risks and perils as Seller may reasonably require, In an amount equal to their highest insurable value; and the mortgage, note
and security agreement shall be otherwise in form and content required by Seller, but Seller may only require clauses and coverage customarily found in mort-
gages, mortgage notes and security agreements generally utilized by savings and loan institutions or state or national banks located in the county wherein the
Real Property is located. All Personal Property and leasos beiA!! oOR'.'oyed or assigned will, at Seller's option, be subject to the lien of a security agreement evi.
denced by recorded or filed financing statements or certifICates of title. If a BalleeA meFt!i)age, tAB ~nal payment 'Hill EllI:seeEl the paRadle payments thef8lln.
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 Properly 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 Paragraph VII hereof and title to the Real Property Is insurable in accordance with "AS IS. Standard A without exception for lack of legal right of access,
F. LEASES: Selle! shell at least 10 days BaleFe Closing, tuTAish te Suter espies ef all writteA leases and El6teppelletteRl from eash tenant spesifyiA!:l the natl/Fe
aAa aurat'sA at tile teflBAt's oeel:l~BRey, rental rates, advaAeed feAt BAa secufity de~esits ~a1a by tSAaAt. If Sellar is I:lnaBle te eetalA SllGh latter freFA each taR
ant, the same iAfermatieA s"'elll3e tumished 131' Seller to BUyer ..ithiA that time ~eFie6 iA the farm ef a Seller's affidavit, and 8l2jElr may thereafter S9AtaGt t9l'l
~~ ~ :~~~ sl:lel1 iAfermatieA. If tRe terfllS ef the leases aiffor ffiaterlally from Sellcr's rcpreseAlalieAs, SI;J"/er may termiAate tRis CentraGt By deli\'eRnl} wFitten
notice te Seller allea51 5 aays prier te CleslAg. SeKer shall, at Clesing, aeli'/sr aFlEl assign all eFigiAalleases t8 S~Af.
G. LIENS: Seller shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise prol'jded for herein, of any financing statement,
claims of lien or potential IIenors known to Seller and further attesting that there have been no improvements or rep!1;rs to the Real Property for 90 days imme-
diately preceding date of Closing, If the Real Property has been improved or repaired within that time, Seller shall d91iver releases or waivers of construction
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-
eral contractors, subcontractors, suppliers and materialmen, further affirming that all charges for improvements or ~epairs which could serve as a basis for a
construction lien or a claim for damages have been paid or will be paid at the Closing of this Contract. .
H. PLACE OF CLOSING: Closing shall be held in the county wherein the Real Property is located at the office of tt\~ attorney or other dosing agent ('Closing
Agent") designated by the party paying for title insurance, or, if no title insurance, designated by Seller. .'
I. TIME: Calendar days shall be used in computing time periods except periods of less than six (6) days, in which eve.1t Saturdays, Sundays and state or nation-
allegal holidays shan be excluded. Ally time periods provided for herein which sha. end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. of the
next business day. TIme is of the essence in this Contract. *Statutory Deed Bill of Sale
J. CLOSING DOCUMENTS: Seller shall ftrnish the aeea, biR ef sale, eeFlifieale af litle, cxmstruction lien affidavit, owner's possession affidavit, assi!jAmeAls of leas
as, teAant enS ffieFt!!BlJee e518l3~lletters and corrective instruments. Buyer shall furnish mortgage, mortgage note, security agreement and fnancing statements.
K. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by SelIer.*AII costs of Buyer's loan (whether obtained *Buyer
from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage essumed,
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 tllis CaAtraat, charges for related closing services, title search, and closing fees rll1cluding preparation of closing
statement), shall 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 shall 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 SeHer. Taxes shall be prorated based on the current
years tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing o....curs at a date when the current year's mill-
age Is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and pior 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 C/osilg,
which improvements were not in existence on January 1 st of prior year, then taxes shall be prorated based upon pricr 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 taking Into
a=unt 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.
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") b'.l':x-e Closing and cost of restoration (which
shall include the cost of pruning or removing damaged trees) does not exceed 1 .5% of the Purchase Price, cost of rr.Storation shall bo an obligation of SoUor and
Closing shall proceed pursuant to the terms of this Contract, and if restoration is not completed as of Closing, rest,.;'3tion costs win be escrowed at Closing. If
the cost of restoration exceeds 1.5% of the Purchase Price, Buyer shall either take the Property as is, together wit,' 'he 1.5% or receive a refund of deposit(s)
thereby releasing Buyer and Seller from an further obligations under this Contract. Seller's sole obligation with respec, 10 tree damage by casualty or other natu-
ral occurrence sha. be the cost of pruning or removal.
P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If the title agent insures adver3e matters pursuant to Section 627.7841,
F.S., as amended, the escrow and closing procedure required by this "AS IS" Standard shall be waived. Unles.s waived as set forth above the following
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,I .,.
"AS 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 Seller's title is rendered unmarketable, through no fault of Buyer, Buyer shall, within the 5 day period, notify Sellar in writing of the defect and Seller shaD
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 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 return the Personal
'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
for refund, Buyer shall take title as is, waiving all rights against Seier as to any Intervening defect except as may be available to Buyer by virtue of war-
ranties contained in the deed or bill of sale.
a, ESCROW: Arrt Closing Agent or escrow agent (collectively "Agent1 receiving funds or equivalent is authorized and agrees by acceptance of them to deposit
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
clear shall not excuse Buyer's performance. If in doubt as to Agent's dutias or liabilities under the prOvisions of this CO:ltract, Agent may, at Agent's option, con-
tinue to hold the subject matter of the escrow until the parties hereto agree to its disbursement or until a judgmeni of a court of competent jurtsdiction shaa
determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction tjt the dispute. An attorney who represents
a party and also acts as Agent may represent such party in such action, Upon notifying all parties concemed of s':~.h action, aIIliabirlty on the part of Agent
shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. If a licensei.' real estate broker, Agent will comply with
~rovisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seller wherein Agent is made a party be--..ause of 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 funds or equivalent and charged and awarded as court costs in favor of the p:'&vailing party. The Agent shall not be liable
to any party or person for misdelivery to Buyer or Seller of items subject to the escrow, unless such misdelivery is due to willfU breach of the provisions of this
Contract or gross negligence of Agent.
R. AITORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such liti-
gation, which, for purposes of this "AS IS" Standard, shaD include Seller, Buyer and any brokers acting In agency or nonagency relationships authorlzed by
Chapter 475, F.S.. as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs and expenses.
S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time speciflBd, including payment of all deposits, the deposit(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 damages, consideration for
the execution of this Contract and in full settlement of any cleims; whereupon, Buyer and Seller shall be relieved of all obrigBtions under this Contract; or Seller,
at Seller'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-
ketable after diligent effort, SeHer fails, neglacts or refuses to perform this Contract, Buyer may seek speciflc performance or elect to receive the return of Buyer~
deposit(s) without thereby waMng any action for damages resulting from Seller's breach.
T. CONTRACT NOT RECORDABLE; PERSONS BOUNDj NOnCE; 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 of the parties and their successors In Interest. Whenever the context permits, singular shall Include plural and
one gender shall include all. Notice and delivery given by or to the attorney or broker representing any party shall 00. as effective as if given by or to that party.
All notices must be in writing and may be made by mall, personal delivery or electronic media A legible facsimile 'or electronic Qncluding "pdfj 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 Property by staMory '1lal"f3Aty, trustee's, ~e.rsaAaI re~re8BAtative'8, or gU3l'ilian's deed, as
appropriate to the status of Seller, subject only to matters contained in Paragraph VII and those otherwise accepted by Buyer, Personal Property shall, at the
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 ttle parties intended to be bound by it.
w. .SELLER DISCLOSURE: (1) There are no facts known to Seller materially affecting the value of tl)e Property whk:h are not readily observable by Buyer or
which have not been disclosed to Buyerj (2) Seller extends and Intends no warranty and makes no representatl-:i" of any type, either express or Implied,
as to the physlcBl condition or history of the Property; (3) Seller has received no written or verbal notIce fro:'"! any govemmentBl entity or agency 8S
to 8 currently uncorrected building, environmental or safety code violation; (4) Seifer has no knowledge of liiny repairs or Improvements made to the
Property without compliance with govemmental regulation whIch have :'lot been disclosed to Buyer. "'.
X. PROPERTY MAINTENANCEj PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: ~~Ier 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 Qasuatty Loss excepted. Seller shall, upon
~asonable notice, provide utilities service and access to the Property for 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 ~his "AS IS" Standard. Seller will assign all
assignable repair and treatment contracts and warranties to Buyer at Closing.
V. 1931 EXCHANCE= If eilh61 SeRer er Buo/er wistl Ie BAter iRte a lUte IlinEl6l\ellenge (eitt-ler siml/~aReel/S with Closing or seferreelj with respoot to the Prol*lAY
l/RSer SootieR 1031 ef tile IAtal'flal ReveRl/e Cese I"Eltel:1anga1, tt-le other pall)' SRaIl eeepsrate IA all reasenable respoots ts e1fe6tllale tile Exshange, insllld
iog the allaMieA ef Seel/meAts; pRrVideEl (1) tI:le eesper-atiAg party shalllA~llIr AS liability er eJ(j:leAse relates te the Exfihange anEl121 the ClssiRg shall net be
oontiRgeAt lJ~SA, Asr exteRelea ar llelayea by, such EllehaRge.
Z. BUYER WAIVER OF CLAIMS: Buyer wBlves any clBlms agBlnst Seller and, to the extent permitted by law, against BRY real estate !!eeFIB08 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 clBlmlng by. through, under or against the Buyer.
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