Agenda 12/11/2012 Item #16D2212/11/2012 Item 16.D.22.
le� . EXECUTIVE SUMMARY
Recommendation to authorize staff to notify applicant of the County's cancellation of the "As Is"
Contract for Sale and Purchase for a property in the Neighborhood Stabilization Program (NSP1).
OBJECTIVE: To return the deposit in order to sell the property to a future eligible NSP applicant.
CONSIDERATION: On December 1, 2009, the Board adopted Ordinance No. 2009 -63, establishing
policies, procedures, and a standard form to be used by the Board when selling and conveying real
property under the NSP 1.
The Board approved the standard form "As Is" Contract for Sale and Purchase (Contract). Said contract
between Collier County and Ms. Shelby Rose was fully executed on August 27, 2012. The applicant was
pre - qualified for financing.
Ordinance No. 2009 -63, requires $1,000 in earnest money deposit to be given at the time of Contract
execution. Ms. Rose's escrow deposit is $1,000.00 which met the minimum deposit requirement, but the
closing date had not been scheduled because financing could not be obtained.
We received notification from Fifth Third Bank on November 27, 2012 that Ms. Rose was denied
mortgage financing to purchase the NSP 1 home. Staff believes that Ms. Shelby Rose has used reasonable
diligence to obtain financing. Additionally, there is presently a qualified buyer waiting to purchase the
NSP home.
FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary.
GROWTH MANAGEMENT IMPACT: There is no Growth Management Impact associated with this
Executive Summary.
LEGAL CONSIDERATIONS: Lines 42-43 of the Contracts state:
"If Buyer does not deliver to Seller written notice of Loan Approval by Loan Approval Date, Seller may
cancel this Contract by delivering written notice (Seller's Cancellation Notice) to Buyer, but not later than
seven (7) days prior to Closing."
Lines 45-46 of the Contracts state:
"If Buyer has used reasonable diligence but does not obtain Loan Approval by Loan Approval Date, and
thereafter either party elects to cancel this Contract, the deposit(s) shall be returned to the buyer."
The Board may cancel the Contract for the failure to obtain financing. If the Board finds that the Buyer
has used reasonable diligence to obtain financing it may return the deposit to the Buyer. This item is
legally sufficient and requires a majority vote for Board action. - JBW
RECOMMENDATION: That the Board of County Commissioners find that Buyer has used reasonable
diligence to obtain financing and approve and authorize staff to notify: (1) Ms. Shelby Rose of the
County's cancellation of "As Is" Contract for Sale and Purchase contract for the (NSP) property and (2)
the title company to return the escrow deposit to Ms. Rose.
11011 PREPARED BY: Lisa N. Carr, Grant Coordinator, Housing Human and Veteran Services
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12/11/2012 Item 16.D.22.
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COLLIER COUNTY
Board of County Commissioners
Item Number: 16.D.22.
12/11/2012 Item 16.D.22.
Item Summary: Recommendation to authorize staff to notify applicant of the County's
cancellation of the "As Is" Contract for Sale and Purchase for a property in the Neighborhood
Stabilization Program (NSP1).
Meeting Date: 12/11/2012
Prepared By
Name: CarrLisa
Title: SHIP Program Coordinator
11/28/2012 4:21:28 PM
Submitted by
Title: SHIP Program Coordinator
Name: CarrLisa
11/28/2012 4:21:30 PM
Approved By
Name: LarsenKathleen
Date: 11/29/2012 9:22 :26 AM
Name: GrantKimberley
Title: Interim Director, HHVS
Date: 11/29/2012 9:44:41 AM
Name: AlonsoHailey
Title: Operations Analyst, Public Service Division
Date: 11/29/2012 9:44:53 AM
Name: SonntagKristi
Date: 11/30/2012 5:55:47 AM
Name: CarnellSteve
Title: Director - Purchasing/General Services,Purchasing
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Date: 11/30/2012 7:29:34 AM
Name: AckermanMaria
Title: Senior Accountant, Grants
Date: 11/30/2012 7:44:43 AM
Name: WhiteJennifer
Title: Assistant County Attorney,County Attorney
Date: 11/30/2012 9:19:02 AM
Name: KlatzkowJeff
Title: County Attorney
Date: 11/30/2012 1:45:46 PM
Name: FinnEd
Title: Senior Budget Analyst, OMB
Date: 11/30/2012 4:44:57 PM
Name: StanleyTherese
Title: Management/Budget Analyst, Senior,Office of Manage
Date: 12/3/2012 9:39:50 AM
Name: OchsLeo
Title: County Manager
Date: 12/3/2012 3:44:46 PM
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12/11/2012 Item 16.D.22.
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THIS FORM HAS
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12/11/2012 Item 16.D.22.
PARTIES: COLLIER COUNTY, a Political Subdivision of the State of Florida (•fig
and SHELBY ROSE, a Single Woman (, &uyerl
hereby agree that Seller shell sell and Buyer shag buy the following described Real Property and Personal Property (collectively "Property")
pursuant to the terms and conditions of this Contract for Sale and Purchase and any riders and addenda ('Contract"j:
1. DESCRIPTION:
(a) Legal description of the Real Property located in COLLIER County, Florlda: Lot 16, Block D •
South Tamiami Heights, recorded in Plat Bk 3, Page 44, Public Records, Collier Countv.
(b) Street address, city, zip, of the Property: 3502 CALOOSA STREET, NAPLES, FL 34112
(c)Includes existing range(s), retrigerator(s), scig a($, t fixtixe(s). and W�t�s)unless , e g
specifically exduded be tl
Other Items Included are; CENTRAL AIR CONDITIONING r r . 3
Items of Personal Property ( and (eased items, if any) excluded are: DISHWASHER
15-11. PURCHASE PRICE (U.S. currency) :........... ............................... $ 69, 000.00
16 PAYMENT
17* (a) Deposit held in escrow by Stewart Title Co. PEscrDw Agent' in the amaxx of (checks subject to clearance) $ 1,000.00
18* Escrow Aganit address: 3936 Tamismi Tr. N., auita A, NAP168, rr, 76163 Phone: 239- 262 -2363 k
19* (b) Addltbnal escrow deposit to be made to Escrow Agent wthn N/Adays after Effective Date in the amount of. ... :� .... $ -0-
20* (c) Fr encing in the amount of ('Loan Amountl see Paragraph N below .......................... ......... ... . .. $ 50,370.00
21' (d) Other . *. *SEE. LINES, I15 THROVGIf • 1 X7 • • • , , .......
22 (e) Balance to dose try cash, wive transfer or LOCALLY DRAWN cashier§ or offlow bank check(s), abject
23* to ad)u is or proration$ *,`•SfiE LINE 121 THROUGH 122 . . . ... . . .. . . . ... $ 1,070.00
E 22
24 Ill. TIME FOR ACCEPTANCE OF OFFER AND COUNTEROFFERS; EFFECTIVE DATE:
25* (a) If this offer is not executed (fed b DAYS ehwed to all parties OR FACT OF EXECUTION communicated It writing between the parties on or
26 before . the deposk(s) will, at Buyer's option, be returned and this offer withdrawn. LWese olhaF-
27 . wise- states#, the time MCI,
28 (b) The date of Contract ('Effective Date's 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, them the *Effective Date' shall. be the date determined above for
30 acceptance of this offer •
31 IV FINANCING:
32* 0 (a) This Is a cash transaction with no contingencies for financing;
33* 0 (b) This Contract is contingent on Buyer obtaining written ban commitrnnent which contirrns underwriting loan approval for a loam to purchase
34• the Property rLow Amman will* days (If blank, then 30 days) after Effective Data (-Loan Approval Date's for (CHECK ONLY
35* ONQ: Lei a foxed; 0 an adjustable; or 0 a fixed or adjustable rate loan, In the Loan Amount (See Paragraph 11.(x)) at an initial interest rate not to
36* exceed 6.0 0 %, and for a term of 3 0 years. Buyer will make application within days (If blank, then 5
37 BUYER: Buyer shag use reasonable diligence to: obtain Loan Approval; notify Seller in w days) after oar Approval
Date.
Atkng of receipt of Loan Approval by Lean Approval
38 Date; satisfy terns of the Loan Approval; and dose the ban. Loan Approval which requires a pond tlon related to the sale of other property shag
39 not be deemed Loan Approval for purposes of this subparagraph. Buyer snap pay all loan expenses. Buyer aulhortws the mortgage broker(s) and
40 lenders) to disclose Information regarding the conditions, status, and progress of ben application and Loan Approval to Seiler, Sellers attorney,
41 read estate licensee(s), and Closing,Aglam
42 SELLER: If Buyer does not delver to Seller written notice of loan Approval by Loan Approval Date, Seger may thereafter cancel this Contract by
43 delivering written notice (' Seler's Cencelation Noticed to Buyer, but hot later than seven (7) days prior to Closing. Ssferls Cancellation Notice shall
44 notify Buyer that &W has three (3) days to deliver to Serer written notice wa lving this Financing contingency, or the Contract shall be canceled.
45 DEPOSITS) (for purposes of this Financing Paragraph IV(b) only): K Buyer has used reasonable diligence but does not obtain loan Approval
46 by Loan Approval Date, and thereafter either party alects to cancel nccel this Contract, the deposa(s) shad be returned to Buyer. If Buyer obtains loan
47 Approval or waives this Financing contingency, and thereafter the Contract does not close, then the deposits) shall be paid to Saber; provided how -
48 ever, I the folios to close Is due to: (II Sellers failure or refusal to dose or Seller otherwise falls to meet the terms of the Contract, or @ BuryerS lender
49 fags to receive and approve an appraisal Of the Property in an amount sufficient to meet the terms of the Loan Approval, then the deposit(s) shall be
50 returned to Buyer.
51* 0 (c) Assumption of existing mortgage (see rider for terms); or
52* 0 (d) Purchase money note and mortgage to Seller (see *As Is' Standards 8 and K and riders; addenda; or special clauses for terms).
53* V. TITLE EVIDENCE: At least 5 days (If blardk, then 5 days) before Closing a title Insurance com mlinwa with legible copies of Instnxrnerrts listed as
54 exceptions attached thereto ('Title Commft mentl and, after Closing, an owners polky Of title Insuranoe (see Standard A for terms) shed be obtained try:
55• (CHECK ONLY ONE): O (1) Seller, at Seller's expense and delivered to Buyer or Buyers attorney; or
56* Q (2) Buyer at Buyer's expense,
57* (OHEt -
6H : r# Eft
58• VI. CLOSING DATE: This transaction shell be dosed and the dosing documents delivered on * +RF.B T.Tmp i o
("Cbsingl. UnIB33
59 mocilied by other provisions of this Contract. In the event of extreme weather or other conditions or events constituting `force ma)eure', Closing will be
60 extended a reasonable time urtg: @ restoration of utilities and other servioes essential to Closing, and (g) availability of Hazard, Wind, Flood, or F brneowmers'
61' insurance- if such conditions cantihue more than days (if blank, then 14 days) beyond Closing Date, than either Party may cancel this Contract.
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. 9 12/11/2012 Item 16.D.22.
62 VII: RESTRICTIONS; EASEMENTS; LIMITATIONS: Suer 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
85 pooated contiguous to real property Ines and not more than 10 feet in width as .to the rear or front lines and 7 1M feet in width as to the side
66 Runes); taxes for year of Closing and subsequent years; and assumed mortgages and purchase money mortgages, if any (1f additional Items, see
67+ addendum); provided, that there exists at Closing no violation of the foregoing and none prevent use of the Property for residential
68* purpose(s).
69 VIII. OCCUPANCY: Seller shall deliver occupancy of Property to Buyer at time of Closing unless otherwise stated herein. q- Rroperty is Ir4anded
7A
,zt
7.2 for maintenamee frern WO defe. an Is ram weepme 7 '
73 DL TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwrltten 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 O may "n and thereby be released from any further Iabli ty under this Contract; O may
76* assign but not be released from lability under this Contract; or ® 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 Cpubk body* does not include a
79 Condominium or Homeowners' Association), Such Ilen(s), it any, whether certified, confirmed and ratified pending, or payable in installments,
BO* - as of Closing, shall be paid as follows: O by Seller at dosing d by Buyer (If left blank. then Senior at Closing). If the amount of any
81 assessment to be paid by Seiler 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 thee. 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 Pubic Health unit.
88 (c) Mold Is naturally occurring and may cause health risks or damage to property. it Buyer Is concerned or desbes 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 Secom 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 TiOWCOMMUNI Y DISCLOSURE.
93 (h) PROPERTY TAX DISCLOSURE SLMAkW BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPOTTY TAXES AS THE AMIOIANT
94 . OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURL ASE. A CHANGE OF OWNER -
95 SHIP OR PROPERTY IMPROVEMENTS TRIGGERS FEASSESSMBYTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES.
96 IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION.
97 XII, MAXIMUM REPAIR COSTS: DELETEb
98* XiII. HOME WARRANTY- O Seller O Buyer 4 WA 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 5 days from Effective bate (- Inspection Period") within
101 which to have such inspections of the Property performed as Buyer shall desire and utNitles service shelf 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 kniowtians and this provislon (b) shall sure 9 termination of this Contract;
104 and (c) if Buyer determines, in Buyouts 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. N 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 XN. Unless Buyer exercises the right to cancel
108 granted herein, Buyer accepts the Property in its present physical condltlon, subject to any violation of governmental, building,
109 environmental, and safety codes, restrictfons 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* O CONDOMINIUM Q VA/FHA O HOMEOWNERS' ASSN. Q LEAD -BASED PAINT Q COASTAL CONSTRUCTION CONTROL LINE
113* O INSULATION D EVIDENCE OF TITLE (SOUTH FLORIDA CONTRACTS) O Other Compnt ensMa Rider Provisions O Addenda
114* Special Clause(s):
115- **Buyer will receive $20,700 from the Collier County Neighborhood Stabilization Program. Buyer will use
116' $16, 56WAppra- 24% of the purchase pricofor principal reduction end the remaining balance of $4.140 w111 be used
117' for closing coats, and prepaid items associated with the first mortgage transaction.
11B*
11g• * *The transaction shall be closed on or before sixty (60) days of the effective date.
12T
121* * *Buyer will pay $1,070 by wire transfer or bank certified check (balance due of the 34 escrow
122, deposit)at closing. -
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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.
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• 12/11/2012 Item 16.D.22.
128 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD,
h 129 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 not constitute an opinion that any of the terms and conditions In this Contract should be accepted by the parties )n a
132 particular transaction. Terris 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' - ' '/ i+� ► {�i/�- Seller Signature Below
136 (BUYER) SHELBY ROSE "(DATE) (SF1 1 ccn (DATE)
137' Seller Signature Below
138 (BUYEM (DATE) (SELLEFO
139' Buyer's' address for purposes of notice P . O-BOX 11212, SelIers' address for purposes of notice c/o CC RPM, 3335 Tamiami
140+ NAPLES, FL 34101 Trail East, Suite 101, Naples, FL 34112
141' 239- 261 -7688 Phone (239) 252 -8991 Phone
142 BROKERS - The- Wakers {rr Rg- seeperatfng-brekere, # aay� na re- th"...' brekeFS e-Wed to - nneGOon-with
3+13 We GaM eete
144*
345 FaIlng Brokers, Hany UsWg BrokeF
CONVEYANCE APPROVED BY BCC:
DECEMBER 1, 2009 - ITEM 17B and OCTOBER 12, 2010 - ITEM 16D2 and December 13, 2011 - Item 10A.
DATED: / I
r •a 'ire
ATTEST:
DWIGH7 'BI20CK• �,� •• '
• ^Zj ' -
BY:
Approved as to form
and legal sufficiency:
BY: •'1l -Q) \.�_ x s
Jennifer B. White,
Assistant County Attorney
Property Address: 3502 CALOOSA STREET, NAPLES, FL 34112
SELLER:
BOARD OF COUNTY COMMISSIONERS
COLLIER 0 Y�FLORIDA
BY: �\ /y co_��4
Fred W. Coyle, Chairman
10-14\ FAR/BAR ASIS•2 Rev. 9107 02007 Fbrida Association of REAuDU' and The Florida Bar At
a9hts Reserved Page 3 of 5
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12/11/2012 Item 16.D.22.
146 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS
147 A. TITLE INSURANCE: The Title Commitment shall be issued by a Florida gceneed title insurer agreeing to issue Buyer, upon recording of the deed to Buyer,
146 an owner's policy of title insurance in the amount of the purchase price, insuring Buyers marketable title to the Real Property, subject only to matters contained
149 in Paragraph VII and those to be discharged by Seger at or before Closing. Marketable title shall be determined according to applicable Title Standards adopt -
150 ed by authority of The Florida Bar and In accordance with law. Buyer shall have 5 days from date of receiving the Title Commltrnertt to examine it, and if title is
151 fond defective, notify Seger in writing specifying defect(s) which render We unmarketable. Seger shag have 30 days from receipt of notice to remove the
152 defects, failing which Buyer shag, within 5 days after expiration of the 30 day period. deliver written notice to Seger either: (1) extending the time for a reason -
153 able period not to exceed 120 days within which Seger shag use diligent effort to remove the defects: or (2) requesting a refund of deposit(s) paid which shag
154 be returned to Buyer. If Buyer fails to so notify Seiler, Buyer shag be deemed to have accepted the title as it then is. Seger shag, if title is found unmarketable,
155 use diligent effort to correct defect(s) within the time provided. If, after diligent effort. Seger is unable to timely correct the defects, Buyer shag either waive the
156 defects, or receive a refund of deposit(s), thereby releasing Buyer and Seger from all further obligations under this Contract. If Seger Is to provide the Title
157 Commilit meat and a Is delivered to Buyer less than 5 days prior to Closing, Buyer may extend Closing so that Buyer shag 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 Seger shag provide for a
180 30 day grace period In the event of default I a first mortgage err! a 15 day grata period g a second our fewer mortgagr, shag provide for right of prepayment
161 in whole or in part without penalty; shalt permit acceleration in event of transfer of the Real Property; shag require all prior hens and encumbrances to be kept
162 in good standing: shag forbid nwdfications of. or future advances under, prior mortgage(s); shag require Buyer to mairrish policies of insurance containing a
153 standard mortgagee clause covering all improvements located on the Real Property against fire and all Perlis Included within the term 'extended coverage
164 endorsemertts' and such other risks and Paris as Seiler may reasonsby require, in an amount equal to their highest insurable value; and the mortgage, note
185 and security agreement shall be otherwise In form and content required by Seger, but Seller may only require clauses and coverage customariy, found in mort-
166 gages, mortgage notes and security agreements generally utilized by savings and ban institutions or state or national banks located in the county wherein the
167 Real Property is located. AN Personal Properly win, at Sallwls option, be subject to the burn of a security agreement evi-
188 deuced by recorded or bleed financing statements or oerti icates of title. sue•
169 C. SURVEY: Buyer, at Buyer's expense, within time slowed to deliver evidence of We and to examine same, may have the Real Property surveyed and certi-
170 fled by a registered Florida surveyor, It the survey lea enciowATierlts on the Real Property or that improvements boated thereon encroach on setback
171 Mae, easenleas, lends of others or Nolste any restrictions, Contract covenants or applicable governmental regulations, the same shag 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 suffident for its intended use as described
174 in Paragraph VII hereof and title to the Heal Property Is insurable in accordance with 'AS IS' Standard A without exception for lack of legal right of access.
1-75 F.
l78 far�nefier} ff diet tern *6te4
478 B64188 19 SOON at 109916 days POOF 19 GIGGIRg. 601OF &W, 81 sign all edgkqW leases to awye
180 G. LIENS: Setter shall furnish to Buyer at time or Closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing staternent,
181 claims of Ion or potential lienors known to Seller and further attesting that there have been no improvements or repairs to the Real Property for 90 days imme-
1 B2 distey preceding date of Closing. If the Real Property has been frmproved or repaired within that time, Seger shall deliver releases or waivers of construction
163 liens executed by all general contractors, subcontractors. suppliers and materfaknen in addition to Seller's ion affidavit setting forth the names of all such gen-
184 eral contractors, subcontractors, suppliers and materialmen, further affirming that all charges for Improvements or repair which could serve as a bests 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 hold in the county wherein the Real Property is boated at the office of the attorney or other dosing agent (' Cbsing
187 Agent's designated by the party paying for tide insurance, or, 9 no title insurance, designated by Seger.
186 L TIME: Calendar days shag be used in computing trrle periods except periods of less than sic (6) days, in which event Souxleys, Sundays and state or nation-
189 al legal holidays shall be exckided. Arty time periods provided for herein which shall end on a Saturday, Sun day, 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: Seiler shag furnish the , construction lien afh`davit owner's possession affidavit, sef ism
42 and corrective Instruments. Buyer shag furnish mortgage, mortgage note, security agreement and friencing sWertnents. *
193 K EXPENSES: Documentary stamps on the deed and recording of corrective hstrumams shall be paid by 6ellerkAh Bu e r costs of Buyers ben (whether obtained y
194 from Seger or third party), Including, but not limited to, documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed,
195 mortgagee title insurance commitment with related fees, and recording of purchase money mortgage, deed and financing statements shall be paid by Buyer.
196 Unless otherwise provided by law oF r4w to this Gentivall, charges for related closing services, the search, and dosing lees (nckrdng preparation of dosing
197 statement), shall be paid by the party responsible for furnishing the title evidence in accordance with Paragraph V.
198 L PRORATION$-, CREDITS: Taxes, assessments, rent, interest, insurance and other expo of the Prop" shag be prorated through the day before Closing.
199 Buyer shall have the option of taking over existing policies of insurance, g assumable, in which evert premiums shag be prorated. Cash at Closing shal be
200 increased or decreased as may be required by proration to be made through day prior to Closing. or occupancy. If occupancy occurs before Cbsing. Advance
201 rent and saoxrity deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated bused 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 mrg-
203 age Is not &ad and current year's assessment Is available, Was will be prorated based upon such assessrthant and prior year's mgiage. If current year's assass-
204 meet is not available, than taxes will be prorated on Prior year's tax If there me completed iriprovaments on the Real Property by January 1 st of year of Closing,
205 which improvements were not in existence on January 1 at of prior year, then taxes shag be prorated based upon prior years n,Eage and at an editable assess -
205 ment to be agreed upon between the parties; falling which, request shell be made to the County Property Appraiser for an informal assessment taking into
207 account available exemptions. A tax proration based on an estimate shag, at request of either party, be rea*aed upon receipt of current year's tax bit.
208 M. (RESERVED - purposely left blank)
209 N. INSPECTION AND REPAIib DELETED
210 O. RISK OF LOSS: t, after the Effective Date, the Property is damaged by fire or other casualty ("Casually Loss") before Closing and cost of restoration ( *:h
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 Seger and
212 Closing shall proceed pursuant to the teams of this Contract, and I restoration is not completed as of Cbsing, restoration costs will be escrowed at Closing. If
213 the cost of restoration exceeds 1.5% of the Purchase Price, Buyer shall aither take the Property as is, together with 111e 1.5% or receive a refund of deposg(s)
214 then" releasing Buyer and Seiler from all further obligations under this Contract. Seliers sole obligation with respect to Infra damage by casualty or other natu-
215 ral occurrence shall be the cost of pruning or removal.
216 P. CLOSING PROCEDURE The deed shag be recorded upon clearance of funds. If the title agent Insures adverse matters pursuant to Section 527.7841,
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 Ray. 9/07 O 2007 Florida Association of REnuow and The Florida Bar AN Rights Reserved Page 4 of 5
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0 12/11/2012 Item 16.D.22.
218 "AS IS" STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)
r1 219 dosing 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
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 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 Seger as to any intervening defect except as may be available to Buyer by virtue of war -
225 ranties contained In the deed or big of sale.
226 O. ESCROW. Ary Closing Agent or escrow agent (cogectivey "Agent'} receiving funds or equivalent is authorized and agrees by acceptance of them to deposit
227 them promptly, hold sane in escrow and, subject to deararrce, disburse them in accordance with terms and conditions of this Contract. Failure of funds to
228 clear shag 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': option, con -
229 tine 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 ads as Agent may represent such party in such action. Upon notifying ail parties concerned of such action, all liability on the pan of Agent
232 shag fully terminate, except to the extent of accounting for any item previously delivered out of escrow. g a licensed reel estate broker, Agent will comply with
233 provisions of Chapter 475, F.S., as amended. Any suit between Buyer and Seger wherein Agent is made a party because of acting as Agent hereunder, or in
234 any suit wherein Agent hterpleads the subject matter of the escrow, Agent shag recover reasonable attorney's fees and costs incurred with these amounts to
235 be paid trom and out of the escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shell not be gable
236 to any party or person for misdegvery to Buyer or Seger of Item subject to the escrow, unless such misdelivery Is due to wWd bream of the provisions of this
237 Contract or gross negfigsnce of Agent.
238 R. ATTORNEY'S FEES; COSTS: In any litigation, hoLK* g breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such Hill-
239 gation, which, for purposes of the 'AS IS' Standard, shall Include Seger; Buyw and any brokers acting In agency or nonagency relationships authorized by
240 Chapter 475, F.S., as amended, shag be entitled to recover from the non- prevailing party reasonable attorney's fees, costs and expenses.
241 S. FAILURE OF PERFORMANCE. If Buyer fells to perform this Contract whi-i n the time specified, hndWkV payment of all deposits, the deposits) paid by
242 Buyer and deposit(s) agreed to be paid, maybe recovered and retained by and for the account of Sager as agreed upon liquidated damages, oonsidwatbn for
243 the execution of this Contrail and in full settle nest of any claim; whereupon, Buyer and Seger shag be relieved of all obligations under this Contract; or Seger,
244 at Seller's option, may proceed In equity to enforce Seiler§ rights under this Contract. if for any reason other than fall um of Seger to make Seller's title mer-
245 ketable after dggent of fort. Seger fags, neglects or refuses to perform this Contract, Buyer may seek specific performance or elect to receive the return of Byrer§
246 deposg(s) without thereby waiving any action for damages re U&Q from Seller's breach,
247 T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither ttms Contract nor any notice of It shag be recorded In any pubic records.
248 This Contract shag bind and inure to the benefit of the parties and their successors in Interest. Whenever the context permits, slmgtear shag include plural and
249 one gender shall include ail. Notice and delivery given by or the attorney or broker representing any party shag 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 'pdr) copy of this
251 Contract and any signatures hereon shag be considered for ail purposes as an original.
252 U. CONVEYANCE: Seger shag convey marketable title to the Real Property by statutory wed t deed,. as
253 appropriate to the statue of Seger, subject orgy to matters contained In Paragraph VII end those otherwise accepted by Buyer. Personal Property shall, at the
254 request of Buyer, be transferred by an absolute big 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 shell be binding upon Buyer or Seger Unless included in this Contract. No mod -
256 Igcation to or change In this Contract shag be valid or binding upon the parties unless in writing and executed by the parties intended to be bound by (t.
257 W. SELLER DISCLOSURE; (1) Thee are no facts known to Seger ffWed* affectIrg the vague of ft* 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 reprasentatlon of any type, eltirer express or Implied,
259 as to the physical condition or history of the Property, (3) Seer has received no written or verbal notice from any governmental enyty or agency as
260 to a cunentiy unco,rected buiddhrp environmental or safely code violation; (4) Seller has no knowledge of any repairs or knpr omments made to the
261 1rop&V w(thout compliance wKh govemmentaf regWafion which have not been disclosed to Buyer.
262 X. PROPERTY MAINTENANCE; PROPERTY ACCESS; ASSIGNMENT OF CONTRACTS AND WARRANTIES: Seger shall maintain the Property, including,
263 but not fir ited to lawn, shrubbery, and pod in the condition existing as of Effective Date, ordinary wear and tow and Casualty Loss excepted. Seger shag. 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 ail Item of Personal Property are on the Fleet Property and that the Property has been maintained as required by this "AS IS' Standard. Seger will assign all
266 assignable repair and treatment contracts and warranties to Buyer at Closing.
2G;=
288 WdeF Bastion 11984 of the Newel RevoRwe Code r-Exehangel, ft tiow paFty shag 9mP6161 - mpeG%B to ellostuate the
289
27A
271 Z BUYER WAIVER OF CLAIMS: Buyer waives any claims against Seller and, to the extent pemrlited by law,
272 in the negotiation of the Contract for any de%cts or other damage that may exist at Closing of the Contract and be subsequor* discovered by the
273 Buyer or anyone eleimb►p by, through, under or against the Buyer.
FAR4M ASIS -2 Rev. 9/07 02007 Florida Association of REALTORS• and The Florida Bar Ail Rights Reserved Page 5 of 5
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'SHELBY ROSE
PO BOX 11212
NAPLES, FL 34101 -1212
Pay to the
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ri
12/11/2012 Item 16.D.22.
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Packet Page -3614-
12/11/2012 Item 16.D.22.
Statement of Credit Denial, Termination or-Change
n
Applicant Creditor Date
Shelby Rose Fifth Third Mortgage Company November 27, 2012
5490 16th PL SW 5001 Kingsley DR
Naples, FL 34116 MD: 1MOCBQ Application or Loan Number
Cincinnati, OH 45227 416767994
"You" means Applicant.
"We" means Creditor.
Property Address: 3502 Cal oosa St, Naples, FL 34112
0 M ultipie Creditors. We are providing this notice on behalf of us and the following creditor(s):
Description of Account, Transaction or Requested Credit. Con venti onal -Fixed Rate
Description of Action Taken. Your mortgage loan application has been denied
or Value of Collateral not Sufficient
Disclosure of Use of Intonnation Obtained froin an Outside Source
L-1 Our credit decision was based in whole or in part on information obtained in a report from the consumer reporting agency or
agencies listed below. You have a right under the Fair Crledit Reporting Act to know the information contained in your credit
file at the consumer reporting agency. The reporting agency played no part in our decision and is unable to supply specific
reasons why we have denied credit to you. You also have a right to a free copy of your report from the reporting agency, if
you request it no later than 60 days after you receive this notice. In addition, if you find that any information contained in the
report you receive is inaccurate or incomplete, you have the right to dispute the matter with the reporting agency.
416767994
Adverse Action - Statement of Credit Denial
VMP 0 Bankers Systems n+
Wolters Kluwer Financial Services ® 1993, 2912
Packet Page -3615-
416767994
VMP30 (1204)
Pag e 1 of 3
12/11/2012 Item 16.D.22.
Statement of Credit Denial, Termination or Change [continued]
Address I elepluvolle + • •
Reporting •
Name
0 We also obtained your credit score from the consumer reporting agency and used it in making our credit decision Your
credit score is a number that reflects the information in your consumer report. Your credit score can change, depending
on how the information in your consumer report changes.
• Your credit score:
• Date: N /A
• Scores range. from a low of N/A to a high of N/A
• Key factors that adversely affected your credit score:
If you have any questions regarding your credit score, you should contact N/A at
their address and telephone number above.
0 Our credit decision was based in whole or in part on information obtained from an affiliate or from an outside source other
than a consumer reporting agency. Under the Fair Credit Reporting Act, you have the right to make a written request, no later
than 60 days after you receive this notice, for disclosure of the nature of this information.
416767994
Adverse Action-Statement of Credit Denial
VMP& Bankers Systems >w
Wolters Kluwer Financial Services ® 1993, 2012
Packet Page -3616-
416767994
VMP30 (1204)
Page 2 of 3
12/11/2012 Item 16.D.22.
Statement of Credit Denial, Termination or Change [continued]
If you have any questions regarding this notice, you should contact:
Creditor's Name: Fifth Third Mortgage Company
Address: 5001 Kingsley DR, MD: 1MOCBQ
Cincinnati, OH 45227
Telephone: ( 800) 972-3030
Notice. The federal Equal Credit Opportunity Act prohibits creditors from discriminat'
race, color, religion, national on mg age credit applicants on the basis of
gin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding
contract); because all or part of the applicant's income derives from any public assistance program; or because the applicant has in
good faith exercised any right under the Consumer Credit Protection Act The federal agency that administers compliance with
this law concerning this creditor is:
Bureau of Consumer Financial Protection
1700 G Street NW.
Washington, DC 20006
W
Adverse Action - Statement of Credit Denial
VMP V Bankers Systems w
Wolters Kluwer Financial Services p 19g3, 2012
r�
Packet Page -3617-
VMP30 (1204)
Page 3 of 3
12/11/2012 Item 16.D.22.
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