As Is Contract for Sale and Purchase
. .
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF . REALTORS. AND THE FLORIDA BAR
"As Is" Contract For Sale And Purchase
- ~ I, I '---\ J I _ I
1* PARTIES: COLLIER COUNTY, a Political Subdivision of the State of Florida ("Seller'),
2* and ODALINA SANTIESTEBAN and CARMEN SEVERGE, as Joint Tenants with Right of Survivorship ("Buyer") ,
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: L~t 3, Block 56, G~lden
7* Gate Unit 2 as recorded in Plat Book 5, Pages 65 through 77, of the Publ~c Records of Coll~er County, Flor~da.
8* (b) Street address, city, zip, of the Property: 4420 19th Avenue SW, Naples, FL 34116
9 (c) Personal Property includes existing range(s), refrigerator(s), dishwasher(s), ceiling fan(s), light fixture(s), and window treatment(s) unless
10 specifically excluded below.
11* Other items included are: Microwave, Washer and Dryer (from Previous Owner), and Central Air Conditioning.
12*
13* Items of Personal Property (and leased items, if any) excluded are: Not Applicable
14*
15* II. PURCHASE PRICE (U.S. currency):. . . . . . . . . . . . . . .. .. . . .. . . . .. . .. . .. .. . . . . . , . . . . . .. . . . . . . . .. . . $ 93,900.00
16 PAYMENT:
17* (a) Deposit held in escrow by Stewart Title Co. ("Escrow Agent') 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 IV below . . . . . . . . . . . . . . . . . . , . . . . . . . . . . . . , . . . . . . . . . . .
21* (d) Other .*.*:~?? :r-,I,l,!~~. f.1.5. . TI;l1<9P.G;f! . HI. . . . . , . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .. .
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 all parties OR FACT OF EXECUTION communicated in writing between the parties on or
26* before 15 Days , the deposit(s) will, at Buyer's option, be returned and this offer withdrawn. UAIeH other-
27 wise stated, the time fer acceptance of any COYRtemffers shall be :2 days from the date the COYRteroff.er is deli)'9red.
28 (b) The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed or initialed this offer or the
29 final counteroffer. If such date is not otherwise set forth in this Contract, then the "Effective Date" shall be the date determined above for
30 acceptance of this offer or, if applicabl~, the final counteroffer.
31 IV. FINANCING: .
32* CJ (a) This is a cash transaction with no contingencies for financing;
33* illl (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 C'Loan Approval Date') for (CHECK ONLY
35* ONE): I2i a fixed; Dan adjustable; or 0 a fixed or adjustable rate loan, in the Loan Amount (See Paragraph !I.(c)) at an initial interest rate not to
36* exceed 6.00 %, and for a term of ~ years. Buyer will make application within _ days (If blank, then 5 days) after Effective Date.
37 BUYER: Buyer shall use reasonable diligence to: obtain Loan Approval; notify Seller in writing of receipt of Loan Approval by Loan Approval
38 Date; satisfy terms of the Loan Approval; and close the loan. Loan Approval which requires a condition related to the sale of other property shall
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 lender(s) to disclose information regarding the conditions, status, and progress of loan application and Loan Approval to Seller, Seiler'S attorney,
41 real estate licensee(s), and Closing Agent.
42 SELLER: If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may thereafter cancel this Contract by
43 delivering written notice ("SeHer's Cancellation Notice') to Buyer, but not later than seven (7) days prior to Closing. Seller's Cancellation Notice shall
44 notify Buyer that Buyer has three (3) days to deliver to Seller written notice waiving this Financing contingency, or the Contract shall be cancelled.
45 DEPOSIT(S) (for purposes of this Financing Paragraph IV(b) only): If Buyer has used reasonable diligence but does not obtain Loan Approval
46 by Loan Approval Date, and thereafter either party elects to cancel this Contract, the deposit(s) shall be retumed to Buyer. If Buyer obtains Loan
47 Approval or waives this Rnancing contingency, and thereafter the Contract does not close, then the deposit(s) shall be paid to Seller; provided how-
48 ever, if the failure to close is due to: (i) Seller's failure or refusal to close or Seller otherwise fails to meet the terms of the Contract, or OQ Buyer's lender
49 fails to receive and approve an appraisal of the Property in an amount sufficient to meet the terms of the Loan Approval, then the deposit(s)shaU be
50 returned to Buyer.
51* 0 (e) Assumption of existing mortgage (see rider for terms); or
52* CJ (d) Purchase money note and mortgage to Seller (see "As Is" Standards Band 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 insurance commitment with legible copies of instruments listed as
54 exceptions attached thereto ("Title Commitment") and, after Closing, an owner's policy of title insurance (see Standard A for terms) shall be obtained by:
55* (CHECK ONLY ONE): 0 (1) Seller, at Seller's expense and delivered to Buyer or Buyer's attorney; or
55. ~ (2) Buyer at Buyer's expense.
57* (CHECK HERE): Q If an abstract of title is to b9 furnished instead of title insblranc9, and attach Rd9r for t9m'lS.
58* VI. CLOSING DATE: This transaction shall be closed and the closing documents delivered on **SRR T,TNR 11 q ("Closing'), unless
59 modified by other provisions of this Contract. In the event of extreme weather or other conditions or events constituting "force majeure", Closing will be
60 extended a reasonable time until: (i) restoration of utlities and other services essential to Oosing, and OQ avalability of Hazard, Wind, Flood, or Homeowners'
61* insurance. If such conditions continue more than _ days (If blank, then '14 days) beyond Closing Date, then either party may cancel this Contract.
$ 1,817.00
$69,913.00
$ 21,170.00
0.00
FAR/BAR ASIS-2 Rev. 9/07 C 2007 Florida Association of REALTORS- and The Aorida Bar All Rights Reserved Page 1 of 5
62 VII. RESTRICTIONS; EASEMENTS; UMITATIONS: 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 oil, gas and mineral rights of record without right of entry; unplatted public utility easements of record
65 Oocated contiguous to real property lines and not more than 10 feet in width as to the rear or front lines and 7 1/2 feet in width as to the side
66 lines); taxes for year of Closing and subsequent years; and assumed mortgages and purchase money mortgages, if any (if !'ldditi~ items, see
67* addendum); provided, that there exists at Closing no violation of the foregoing and none prevent use of the Property for resl.dentl.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
18 to be rented or occupied beyond Cl03ing, tho fact and torms thoroof and tho tonant(G) or oocupantG shall be disclosed pursuant to "AS IS" Standard
r1 F. If occupancy is to be deli...sr-cd bcfori:l Closing, Buyer assumes all rlsl({;J of 1000 to Property from dato of ocoupancy, shall bo responsible and liable
72 for maintenance from that date, and 30011 be doomod to have accepted Property in its oldoting oondition as of time of taking occupancy.
73 IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed pro-
74 visions of this Contract in conflict with them.
75* X. ASSIGNABIUTY: (CHECK ONLY ONE): Buyer 0 may assign 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 ~ may not assign this Contract.
77 XI. DISCLOSURES:
78 (a) The Prop~rty 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 Iien(s), if any, whether certified, confirmed and ratified, pending, or payable in installments,
80* as of Closing, shall be paid as follows: 0 by Seller at closing i:J by Buyer (if 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 Aorlda.
85 Additional information regarding radon or radon testing may be obtained from your County Public Health unit.
86 (c) Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or desires additional information
87 regarding mold, Buyer should contact an appropriate professional.
88 (d) Buyer acknowledges receipt of the Florida Energy-Efficiency Rating Information Brochure required by Section 553.996, F.S.
89 (e) If the Real Property includes pre-1978 residential housing, then a lead-based paint rider is mandatory.
90 (f) If Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax Act, the parties shall comply with that Act.
91 (g) BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIA-
92 TlON/COMMUNITY DISCLOSURE.
93 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURREf\If PROPERTY TAXES />S THE AMOUf\If
94 OF PROPERTY TAXES THAT THE BUYER MAY BE OBUGATED TO PAY IN THE YEAR SUBSEOUEf\If TO PURCHASE. A CHANGE OF OWNER-
95 SHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES.
96 IF YOU HAVE /W'( OUESllO\JS CONCERNING VALUAllON, COf\IfACT THE COUNTY PROPERTY APPRAISER'S OFACE FOR INFORMA.T1ON.
97 XII. MAXIMUM REPAIR COSTS: DELETED
98* XIII. HOME WARRANTY: 0 Seller 0 Buyer ~ NIA 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 cancef this Contract
105 by delivering facsimile or written notice of such election to Seller prior to the expiration of the Inspection Period. If Buyer timely
106 cancels this Contract, the deposit(s) paid shall be immediately returned to Buyer; thereupon, Buyer and Seller shall be released of
1{)7 all further obligatIons under this Contract, except as provided In thIs Paragraph XIII. Unless Buyer exercises the right to cancef
108 granted herein, Buyer accepts the Property In its present physical condition, subject to any violation of governmental, building,
109 environmental, and safety codes, restrictIons or requirements and shall be responsIble for any and all repairs and Improvements
110 required by Buyer's lender.
111 XV, RIDERS; ADDENDA; SPECIAL CLAUSES: CHECK those riders which are applicable AND are attached to and made part of this Contract:
112* 0 CONDOMINIUM 0 VMHA 0 HOMEOWNERS' ASSN, 0 LEAD-B/>SED PAINT 0 COASTAL CONSTRUCTION CONTROL LINE
113* 0 INSULATION 0 EVIDENCE OF llTI.E (SOUTH FLORIDA CONTRACTS) 0 Other Comprehensive Rider Provisions 0 Addenda
114* Special Clause(s):
115" **Buyer will receive $28,170 from the Collier County Neighborhood Stabilization Program. Buyer will use
116* $21,170 (22.5% of the purchase price) for principal reduction and the remaining balance of$7,OOO will be used
117*for closing costs, prepaid items, and any discount points associated with the first mortgage transaction.
118.
119* **The transaction shall be closed on or before one-hundred eighty (180) days of the effective date.
120*
121*
122*
123*
124.
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.
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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 TI-lIS "AS IS" FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS" AND TI-lE FLORIDA BAR.
131 Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a
132 particular transaction. Tenms and conditions should be negotiated based upon the respective interests, objectives and bargaining
133 positions of all interested persons.
134 AN ASTE 3JS~) FOLLOWING A LINE NUMBER IN TI-lE MARGIN INDICATES THE LINE CONTAINS A BLANK TO BE COMPLETED.
\
5- 4.- ( ( Seller Signature Below
(DATE) (SELLER) (DATE)
137* -,L: 5~ If- (I Seller Signature Below
138 (BUYER) CARME SEVERGE (DATE) (SELLER) (DATE)
139* Buyers' addres forpurposes of notice 7685 TARA CIRCLE, Sellers' address for purposes of noticec/o 3335 Tamiami
140* APARTMENT 201, NAPLES, FL 34104 Trail East, Suite 101, Naples, FL 34112
141* 239-234-0956 Phone (239) 252-8991 Phone
142 BROKERS: The br-ol(QFS (inoluding ooopoffiting brokers, if any) namod bolow are the only brokers entitled to compensation in connection with
~ this Contraot:
t44'" Nallle.
+4a CeepemtiAg Brokers, if any ListiAg Broker
CONVEYANCE APPROVED BY BCC:
DECEMBER 1, 2009 - ITEM 17B AND OCTOBER 12, 2010 - ITEM 16D2
DATED: 516'"(1.01/
'L.
SELLER:
BOARD OF COUNTY COMMISSIONERS
B:L"E~1:JJ:;. ~
Fred W. Coyle, Cha~rman
.1fJ......,....~;.<:;....'>,... ".J3]'.' '..t
At,..,"':'.'. "
:," ."'....... .~,
. ..... ", 1ft"'"
~:{t-.}
Approved as to form
and legal sufficiency:
BY: ~~~ \~
Jennifer Wh te,
Assistant County Attorney
Property Address: 4420 19TH AVENUE SW, NAPLES, FLORIDA 34116
FAR/BAR ASIS-2 Rev. 9/07 @ 2007 Florida Association of REALTORSc 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,
148 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 titie shall be determined according to applicable Title Standards adopt-
150 ed by authority of The Rorida Bar and in accordance with law. Buyer shall have 5 days from 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 unmarketable. 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) extending the time for a reason-
153 able period not to exceed 120 days within which Seller shall use diligent effort to remove the defects; or (2) requesting a refund of deposit(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
156 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 defauit if a first mortgage and a 15 day grace period if a second or lesser mortgage: shall 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 Mure advances under, prior mortgage(s); shall require Buyer to maintain policies of insurance containing a
163 standard mortgagee clause covering all improvements located on the Real Property against fire and all perils inciuded within the term "extended coverage
164 endorsements" and such other risks and perils as Seller may reasonably require, in an amount equal to their hi9hest insurable value; and the mortgage, note
165 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-
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 Personal Property and iOOGoe boing oonveyod or aeeignod will, at Seller's option, be subject to the lien of a security agreement evi-
168 denced by recorded or filed financing statements or certifICates of title. If a balloon mortgage, the final paYA10nl 'NiII exceed the peAooic payments thel'9Qr:l.
169 C, SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of title and to examine same, may have the Real Property surveyed and certi-
t 70 fied by a registered Florida surveyor. If the survey discloses encroachments on the Real Property or that improvements located thereon encroach on setback
171 lines, easements, lands of others or violate any restrictions, Contract covenants or applicable governmental regulations, the same shall constitute a title defect.
172 D. WOOD DESTROYING ORGANISMS: DELETED
173 E. INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for its intended use as described
174 in 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.
m F. LEASES: Seller shall at l005t 10 days bofor<l Closing, furnish to BUjer oopios of all written loases and estoppel letters from each tenant spE*:lfying the natblr.e
+fa and duFation of the tenant's ooo~panoy, rontal rates, advarlood FOnt and soourity doposits paid by tenant. If Soller is unable to obtain such letter fr.gm each ten
+R- !lI1t, tho oome iAfefFfIatioR shall be fumisRed by Seller to Buyer .....ithin that time peFiod in the form of a Seller's affidavit, and Buyer may tt-leFeafter contact ten
+78 flAt to oonfirm sueR infermation. If tRO terffi6 of tho IcOGes diffor materially fr-om Sollor's FOPFOOontations, Sl;fjer may terminate this Contract by delivering 'A'ritten
+79 notice to Sellcr at least 5 dQ)/5 prior to Closing. Sellar shall, at Closing, delivor and assign all originalleasos to Buyor.
180 G. LIENS: Seller shall furnish to Buyer at time of Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statement,
181 claims of lien or potentiallienors known to Seller and further attesting that there have been no improvements or repairs to the Real Property for 90 days imme-
182 diately preceding date of Closing. If the Real Property has been improved or repaired within that time, Seller shall deliver releases or waivers of construction
183 liens executed by all generai 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 other 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 shall be used in computing time periodS except periods of less than six (6) days, in which event Saturdays, Sundays and state or nation-
189 a1legal holidays shall be excluded. Any time periods provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. 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 !'lese, bill of oole, eortilicate of titlo, construction lien affidavit, owner's possession affidavit, a66igAmonts of 1006
:t-92 eo, tenant ClAd maFt!l~ee esteJ3l3slletlsF6 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 SeIler.*AII costs of Buyer's loan (whether obtained *Buyer
1 94 from Seller or third party), including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed,
195 mortgagee ttile insurance commitment with related fees, and recording of purchase money mort9age, deed and financing statements shall be paid by Buyer.
196 Unless otherwise provided by law or Fidm to this Contract, charges for related closing services, title search, and closing fees (including preparation of closing
197 statement), shall be paid by the party responsible for furnishin9 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 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
200 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
201 rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current
202 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing occurs at a date when the current year's mill-
203 age is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior year's millage. If current year's assess-
204 ment is not available, then taxes will be prorated on prior year's tax. If there are completed improvements on the Real Property by January 1 st of year of Closing,
205 which improvements were not in existence on January 1 st of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assess-
206 ment to be agreed upon between the parties; failing which, request shall be made to the County Property Appraiser for an informal assessment taking into
207 aC,oount avaiiable 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, after the Effective Date, the Property is damaged by fire or other casualty ("Casualty Loss") before Closing and cost of restoration (which
211 shall include the cost of pruning or removing damaged trees) does not exceed 1.5% of the Purchase Price, cost of restoration shall be an obligation of Seller and
212 Closing shall proceed pursuant to the terms of this Contract, and if restoration is not completed as of Oosing, restoration costs will be escrowed at Closing. If
213 the cost of restoration exceeds 1.5% of the Purchase Price, Buyer shall either take the Property as is, together with the 1.5% or receive a refund of deposit{s)
214 thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation with respect to tree damage by casualty or other natu-
215 ral occurrence shall be the cost of pruning or removal.
216 P. CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds. If the title agent insures adverse matters pursuant to Section 627.7841,
217 F.S.,as amended, the escrow and closing procedure required by this "AS IS" Standard shall be waived. Unless waived as set forth above the following
FAR/BAR ASIS-2 Rev. 9/07 I!:) 2007 Florida Association of REALTORS. and The Florida Bar All Rights Reserved Page 4 of 5
. , .
218 "AS IS" 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 after 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
2:<:1 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
222 written demand by Buyer and within 5 days after demand, be returned to Buyer and, simultaneously with such repayment, Buyer shall return the Personal
223 'Property, vacate the Real Property and reconvey the Property to Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand
224 for refund, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of war-
225 ranties contained in the deed or bill of sale.
226 a. ESCROW: 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 clear shall not excuse Buyer'S performance. If in doubt as to Agent's duties or liabilities under the provisions of this Contract, Agent may, at Agent's option, con-
229 tinue to hold the subject matter of the escrow until the parties hereto agree to its disbursement or until a judgment of a court of competent jurisdiction shall
230 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction of the dispute. An attorney who represents
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 will comply with
233 provisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seller wherein Agent is made a party because of acting as Agent hereunder, or in
234 any suit wherein Agent interpleads the subject matter of the escrow, Agent shall recover reasonable attorney's fees and costs 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 to willful breach of the provisions of this
237 Contract or gross negligence of Agent.
238 R. ATTORNEY'S FEES; COSTS: In any litigation, including breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such Iiti-
239 gation, which, for purposes of this "AS IS" Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relationships authorized by
240 Chapter 475, F.S.. as amended, shall be entitled to recover from the non-prevailing party reasonable attorney's fees, costs and expenses.
241 S. FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract within the time specified, including payment of all deposits, the deposit(s) paid by
242 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
243 the execution of this Contract and in full settlement of any claims; whereupon, Buyer and Seller shall be relieved of all obligations under this Contract; or Seller,
244 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-
245 ketable after diligent effort, Seller fails, neglects or refuses to perform this Contract, Buyer may seek specifiC performance 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 shall be recorded in any publiC records.
248 This Contract shall bind and inure to the benefit of the parties and their successors in interest. Whenever the context permits, singular shall include plural and
249 one gender shall include all. Notice and delivery given by or to the attorney or broker representing any party shall be as effective as if given by or to that party.
250 All notices must be in writing and may be made by mail, personal delivery or electronic media. A legible facsimile or electronic (including "pelf') copy of this
251 Contract and any signatures hereon shall be considered for all purposes as an original.
252 U, CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warrant), trustee's, per-sonal re!)FOEontatfve's, er Qusrdian's deed, as
25'3 appropriate to the status of Seller, subject only to matters contained in Paragraph VII and those otherwise accepted by Buyer. Personal Property shall, at the
254 request of Buyer, be transferred by an absolute bill of sale with warranty of title, subject only to such matters as may be otherwise provided for herein.
255. V. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless inciuded in this Contract. No mod-
256 itication to or change in this Contract shall be valid or binding upon the parties unless, in writing and executed by the parties intended to be bound by it.
257 W.SELLER DISCLOSURE: (1) There are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or
258 which have not been disclosed to Buyer: (2) Seller extends and intends no warranty and makes no representation of any type, either express or implied,
259 as to the physical condition or history of the Property; (3) Seller has received no written or verbal notice from any govemmental entity or agency as
260 to a currently uncorrected building, environmental or safety code violation; (4) Seller has no knowledge of any repairs or improvements made to the
261 Property without compliance with governmental regulation which have not been disclosed to Buyer.
262 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seller shall maintain the Properly, including,
263 but not limited to lawn, shrubbery, and pool in the condition existing as of Effective Date, ordinary wear and tear and Casualty Loss excepted. Seller shall, upon
264 reasonable notice, provide utilities service and access to the Property for appraisal and inspections, including a walk-through prior to Closing, to confirm that
265 all items of Personal Property are on the Real Property and that the Property has been maintained as required by this "AS IS" Standard. Seller will assign all
266 assignable repair and treatment contracts and warranties to Buyer at Closing.
267 Y. 1931 EXCHANOE: If either Senor or Buyer .....ish to enter into 0 lil(e I(ind ffileRange (either simultanoous with ClosiAQ or doferFOd) with respect to tRe Pr:a~er:t:y
268 tJAeer SeotieR 1031 of the Intemal Revenue Code ("8IehaAge"), the other party shall eooperate in all reooonable resl3ests to effectblate the EixGhange, iASlbls
269 jng the Ol<ecuticn ef documents; pr-o'/ided (1) the cooperating party shall incur no !iability or Ol<ponsc misted to the Exchange and (2) the Closing shall net be
27G oontingent upeA, nor OJElondod or delayed by, SUOR Exsl'lange.
271 Z. BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent permitted by law, agaiRst any r:eaI fHltale lisel'l8ee IRvelvefi
272 in the negotiation of the Contract, for any defects or other damage that may exist at Closing of the Contract and be subsequently discovered by the
273 Buyer or anyone claiming by, through, under or against the Buyer.
FAR/BAR ASIS-2 Rev, 9/07 @ 2007 Florida Association of REALTORSc and The Rorida Bar All Rights Reserved Page 5 of 5