RICHARD AND BETTY BRADY
I
I
WARRANTY DEED
THIS WARRANTY DEED made and executed the at -:J day of April, 1992,
by the CITY OF CLEARWATER, FLORIDA, a Florida municipal corporation, existing
under the laws of the State of Florida, and having its principal place of
business at 112 S. Osceola Avenue, Clearwater, Florida, 34616, hereinafter
called the Grantor,
to RICHARD D. BRADY and BETTY L. BRADY, Husband and Wife,
and KIMBERLY ANN BRADY, a Single Woman,
Grantees' SS#'s:
whose address is: 1388 Hibiscus Street, Clearwater, FL 34615-2156, herein-
after called the Grantee:
(Wherever used herein, the terms "Grantor" and "Grantee" include all
the parties to this instrument and the heirs, legal representatives,
and assigns of individuals, and the successors and assigns of
corporations.)
WITNESSETH: That the Grantor, for and in consideration of the sum of
$10.00 and other valuable considerations, receipt of which is hereby acknowledged,
by these presents does grant, bargain, sell, alien, remise, release, convey and
confirm unto the Grantee all that certain land situate in Pinellas County,
Florida, viz:
Lot 1, Block B, PINE BROOK SUB-DIVISION, according to the map or
plat thereof as recorded in Plat Book 23, Page 64, of the Public
Records of pinellas County, Florida.
TOGETHER with all the tenements, hereditaments and appurtenances thereto
belonging or 1n anywise appertaining.
TO HAVE AND TO HOLD the same in fee simple forever.
SUBJECT TO EASEMENTS AND RESTRICTIONS OF RECORD, AND TO GENERAL
TAXES FOR THE YEAR 1992 AND THEREAFTER.
AND the Grantor hereby covenants with said Grantee that it is lawfully
seized of said land in fee simple; that it has good right and lawful authority
to sell and convey said land; that it hereby fully warrants the title to said
land and will defend the same against the lawful claims of all persons whomso-
ever; and that said land is free of all encumbrances.
IN WITNESS WHEREOF, the Grantor has caused these presents to be executed
in its name, and its corporate seal to be hereunto affixed, by its proper
officers thereunto duly authorized, the day and year first above written.
Countersigne
~
Rita Garvey
Mayor-Commissioner
CITY OF CLEARWATER, FLORIDA
By:
Approved as to form
and correctness:
ATTEST:
~
~S+" C' ~ D.
.... ~..L-U_ ~ " / . 1
Cyn ~ia E. Goudeau
CitYJ Clerk
-- .-
City
rleiG
~f(,J?~hiS instrument prepared by and return to'
~~udrey Rochester
Coastal Bonded Title Co. of Clearwater
501 S. Ft. Harrison, #203
T'T '1 I, ( 1 (
...' CRTC 92-16200
/
(tjl
I
I
I
STATE OF FLORIDA )
)
COUNTY OF PINELLAS )
BEFORE ME, the undersigned authority, personally appeared Rita Garvey,
Michael J. Wright, M. A. Galbraith, Jr., and Cynthia E. Goudeau, to me well
known, and known by me to.be the individuals described in and who executed
the foregoing instrument as Mayor-Commissioner, City Manager, City Attorney
and City Clerk, respectively, of the above-named City, and that the seal
affixed to the foregoing instrument is the City seal of said City, and the
said instrument is the free act and deed of said City, and the foregoing
individuals did/did not take oaths.
WITNESS my hand and official seal this
did
day of April, 1992.
I~
Hot.LY 11. ,-<5A N/o
My Commission Expires:
Uot::r1' P"I:lic, Slilte d f):::r:,!a
My Commission Expires ".,)fil 20, ]993
Bonded Thru Troy fain. InsuJ.'tncc lnc,
CONTRACT FOR SALE AND PURCHASE
PARTIES: C~iotv of (;1 f';r~at::, A F~: il'ia MlIn i~ i pR1 C;rporRt i,on ("~'\
of P.O. __; 4748. _ l_ar __ ter, _1 r. ,da 3_918-47 8 I (Phone 462-6638
and Rirhflrd D. & Rf>tty 1.. Rrfldy,;:i MRrrif'd (;ollplf>, Rnd Kimhf'rly Ann KrRely, R Sing1p WomRn ("~"I
of 1887 North Highland Avenue, Cleflrwater, F10ridfl 3461')-21'>6 (Phone 447-171(\ )
hereby agree that the Seller shall sell and Buyer shall buy the following real property ("Real Property") and personal property ("Personally") (collectively "Property") upon the lollowin<;
terQls and conditions, which INCLUDE the Standards lor Real Estate Transactions ("Standard(s)") printed on the reverse or attached and any Riders and Addenda to Ihis Instrument
I. DESCRIPTION:
(a) Legal description 01 Real Property located in pin e 11 fI S County, Florida:
T.or 1, B1 ock "B" PTNF.RRfXl< SURDTVISION, f1rrordi ng to thf' TMp or p 1 Rt thf'rpof R~ rprornpel ; n Pl Rt RrvIk ?1, PRgp FL.. ,
Public Records of pinellas County, Florida, together with all improvenP.nts thf'rf'on Rnel thf'rf'in
(b) Street address, city, zip. ot the Property Is: 1388 Hibi seils St.. C.1 eflThTRtpr, Fl or; elR 14(\1')
(c) Personalty: Range, Refri gerator, t-DTWTTHSTANOI~ Ar'N PROVISIONS OF THIS ArnF.F.MlW!' 'Tn 'T'I-lF. (y'NT'RARY, PRnPFR'T'V TS RFTl\r:
PURCHASED "AS IS" IN A1.L RESPF.CfS, WITH I'D WARRANrTF.S F:XPRF.Ssrn OR TMPTIF.I) RY SF:r J F.R, AT OR AFT'FR r.r nSTl\r:
II. PURCHASE PRICE ... Subject. .to..cet:tified..appr.aisal..of . not. .less..than.....,..........,.........,. ................. ........: $
PAYMENT:
(a) Deposit(s) to be held in escrow by COflstfl1 Bonded Ti t 1 e Co. of C1 f>f1ThTfltf>r in the amount of .. $
(b) Additional escrow deposit within days after Effective Date in the amount of .................................................... $
(c) Subject to AND assumption of mortgage in good standing in favor 01
1'>, ()()() 00
, 1, ()()() . 00
N/A
having an approximate present principal balance 01 " $ N/ A
(d) Purchase money mortgage and note bearing annual interest at % (see Addendum) in amount of ................,................. $ N / A
(e) Other: $ N/ A
(I) Balance to close (U,S. cash, LOCALLY DRAWN certified or cashier's check), subject 10 adjustments and prorations .....'..................'.. $ 32.000.00
III. TIME FOR ACCEPTANCE; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered tg ,all parties OR FACT OF EXECUTION communicated in writing
between the parties on or before Monday, Iii![ i 1 6, 1997 , the deposit(s) will. at Buyer's option, be returned to Buyer and this offer withdrawn. A lacsimile copy 01 this
Contract lor Sale and Purchase ("Contract") arm any signa lures hereon shall be considered lor all purposes as originals. The date 01 Contract ("Effective Dale") will be tm! date when
the last one 01 the Buyer and Seller has signed this offer.
IV. FINANCING:
(a) If the purchase price or any part of it is to be linanced by a third-party loan, this Contract is conditioned on the Buyer obtaining a written commitment for (CH1?,K. ( 1)
or (2) or (3)): ( 1) 0 a fixed, (2) 0 an adjustable or (3) 0 a fixed or adjustable rate loan withinlUA- days alter Elfeclive Date at an initial Interest rate nottoexceed~ 0/.,
lerm 01 N / A years and lor the principal amount of $ N / A ' , Buyer will make application within N / A days after Eflective Date and use reasonable
diligence to obtain the loan commitment and, thereafter, to meet the terms and conditions of the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer
fails to obtain the commitment or fails to waive Buyer's rights under this subparagraph within the time lor obtaining the commitment or after diligent effort fails to mee.t the
terms and conditions of the commitment, then either party thereafter, by prompt written notice to the other may cancel the, Contract and Buyer shall be jrefUnded the deposit(s).
(b) The existing mortgage described in Paragraph lI(c) above has (CHECK (1) or (2)): (1) 0 a variable interest rate or (2) 0 a fixed inlerest rate 01 N_A % per annum.
At time 01 title transler some fixed interest rates are subject to increase. If increased. the rate shall not exceed N/ A % per annum. Seller shall, within N/ A days after
Effective Date. lurnish statements lrom all mortgagees stating principal balances~ method 01 payment. interesl rate and status 01 mortgages. If Buyer has agreed to assume a
mortgage which requires approval 01 Buyer by the mortgagee lor aS~l,JrnPtion, then Buyer shall promptly obtain alII required applications and will diligently complete and return
them to the mortgagee. Any mortgagee charge(s) not to exceed $ N@ shall be paid by N_A (if not Ii lied in, equally divided). If Buyer is not
accepted by mortgagee or the requirements for assumption are not in accordance with the terms 01 this Contract or, mortgagee makes a charge in excess 01 the stated amount,
Seller or Buyer may rescind this Contract by prompt written notice to the other party unless either elects to pay the increase in interest rate or excess mortgagee charges.
V. TITLE EVIDENCE: At least 5 days belore closing date, Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney. in accordance with Standard A,
(CHECK (1) or (2)): (1) 0 abstract of title or (2) rn title insurance commitment and, after closing, owner's policy of title insurance.
VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on rY+/24/92 . unless extended by other provisions of Contract.
VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions
and matters appearing on the plat or olherwise common to the subdivision; public utility easements 01 record (easements are to be located contiguous 10 Real Property lines and
not more than 10 feet in width as to the rear or front lines and 7'h feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and subsequent
years; asSumed mortgages and purchase money mortgages. il any; other: none
IV Iy,,'r Rrknl1l.Jh'ng"'~ pllrrhflSf' is hf' i ng TMr!t-. wi tho i ntf'nt to orrllpy ; provided,
that there exists at closing no violation 01 the foregoing and none 01 them prevents use of Real Property lor R.'~ i n.-'nt i R 1 purpose(s).
VIII. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but, if Property is intended to be renled or occupied beyond closing, the fact and terms
thereol shall be slated herein and the tenanl(s) or occupants disclosed pursuanl to Standard F. Seller agrees to deliver occupancy of Property at time of closing unless otherwise
stated herein. If occupancy is to be delivered before closing, Buyer assumes all risk of loss to Property from date of occupancy, shall be responsible and liable for maintenance from
thaI date, and shall be deemed to have accepted Property in its existing condition as 01 lime 01 laking occupancy unless otherwise stated herein or in a separate wriling.
IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions shall control all printed provisions of Contract in conflict with them.
X. RIDERS: (CHECK if any of the lollowing Riders are applicable and are attached to this Contract):
(a) 0 COASTAL CONSTRUCTION CONTROL LINE RIDER (e) 0 FOREIGN INVESTMENT tN REAL PROPERTY TAX ACT RIDER
(b) 0 CONDOMINIUM RIDER (d) 0 INSUlATION RIDER
(e) 0 FHA/VA RIDER
(t) 0 OTHER;
XI. ASSIGNABILITY: (CHECK (1) or (2)): Buyer (1) 0 may assign or (2) I1lI may nol assign Ihis Contract.
XII. SPECIAL CLAUSES: (CHECK (1) or (2)): Addendum (1) 0 is attached or (2) Dlthere is no Addendum.
XIII. TIME IS OF THE ESSENCE OF THIS CONTRACT. BUYER'S INITIALS
XIV. DISCLOSURES: Buyer 0, acknowtedges or 0 does not acknowledge receipt 01 the agency/radon/compensation and estimated closing costs disclosures..,'
THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.
IF NOT FULLY UNDERSTOOD,SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATIO OF REALTORS AND THE FLORIDA BAR.
Approval does not constitute an opinion that any of the terms and conditions in this Cont t hould be ace y the parties In a particular transaction. Terms
and cOr.Iditions should be negotiated based upon the respective interests, ives and ba Ining itions of all Interested persons.
COPYRIGHT 1991 BY THE FLORIDA BAR AND THE IDA AS C JION OF EALTORS
~
(Escrow Agent)
OR
o IF NO LISTING AGREEMEN TLY IN EFFECT:
lIer agrees to pay the ro er named elow, closing, Irom the disbursements ot the proceeds of the sale Ion In the amounl of (COMPLETE ONLY ONE)
_ % 01 gross purchase price or $ tor Broker in effecting the sale by lindin r ready, willing and able to purchase pursuant to Ihe loregoing
Contract. If Buyer lails to perlorm and deposit(s) is retained, 50% thereol. but no er's lee above provided. shall be paid Broker as full consideration lor Broker's
services, including costs expended by Broker, and the balance shall be paid t . tran all not close because ot refusal or failure 01 Seller to perform. Seller shall
pay the lull fee to Broker on demand. In any litigation arising ou ntract concerning the Broker's lee, i1ing party shall recover reasonable attorney's lees and costs,
(authorized signatory)
(firm name of selling Broker)
By;
(authorilprj ~iq"~tory) .lIer)
RIDERS CAN BE OBTAINED FROM THE FLORIDA ASSOCIATION OF REALTORS OR THE FLORIDA BAR.
\l\(l,p,~.n (]0'l\,J~n0 P""I 1/q1
, Sl-ANDARDS FOR REAL ESTATE TRANslcTIONS
A. EVIDENCE OF TITLE: (1) An abstract of title prepared or brought current bya reputable and existing abst;act firm (if not existing then certified as correct by an existing firm)
purporting .\0 be an accurate synopsis of the instruments affecting title to the Real Property recorded in the public records of 'the county wherein Real Property is located through
Effective Date and which shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this transaction, the abstract shall
become the property of Buyer, subject to the right of retention thereof by first mortgagee until lully paid, (2) A title insurance commitment issued by a Florida licensed title insurer
agreeing to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of tiUe insurance in the amount of the purchase price insuring Buyer's title to Ihe Real Property,
subject only to liens, encumbrances, exceptions or qualifications set lorth in this Contract and those which shall be discharged by Seller at or before closing, Seller, shall convey
marketable title subject only to liens, encumbrances, exceptions or qualifications specified in the Contract. Marketable tllle shall be determined accordll1g to applicable Tille Standards
adopted by authority of, The Florida Bar and In accordance with law, Buyer shall have 30 days, il abstract, or 5 days, if title commitment, from date of receiving evidence 01 tllle
to examine it. II tille is found defective; Buyer shall, within 3 days, notify Seller in writing Wecifying delllct(S), If the delect(s) render tllle unmarketable, Seller Will have t20 duys from
receipt of notice within which to remove the delect(s), failing which Buyer shall have the option of either accepling .the title as it then is or demanding, a fef~lnd of deposit(s) paid
which shall immediately be returned to Buyer; thereupon, Buyer and Seller shall release one enother of ell further obligations under the Contract. Seller shall, If lIt1e IS lound unmarketable,
use diligent efforlto correcl delect(s) in the title within the time provided therefor, including the bringing 01 necessary suits,
B. PURCHASE MONEY MORTGAGE; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and morlgage note to Seller shall provide for a 3D-day grace period in
the event of default il a first mortgage and a 15-day grace period if a second or lesser mortgage; shall provide lor right 01 prepayment in whole or in part without penalty; shall
not permit acceleration or interest adjustment in event ot resale 01 Real Property; shall require all prior liens and encumbrances 'to be kept in good standing and forbid modifications
of or future advances under prior mortgage(s); and the mortgage, note and security agreement shall be otherwise in lorm and contenl required by Seller; but Seller may only require
clauses customarily found in mortgages, mortgage notes and security agreements generally utilized by savings and loan inslitutions or stale or national banks localed in the county
wherein Real Property is located, All Personalty and leases being conveyed or assigned will, a\ Seller's option, be subjecl to the lien of a security agreement evidenced by recorded
linan(;ing statements, " a balloon mortgage, the final payment will exceed the periodic payments thereon,
C. SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence, of title and to examine same, may have Real Properly surveyed and certified by a registered Florida
surveyor. If survey shows encroachment on Real Property or that improvements located on Real Properly encroach on setback lines, easemenls, lands of others or violate any restrictions,
Contracl covenants or applicable governmental regulation, the same shall constilute a title delect. '
D. TERMITES: Buyer, at Buyer's expense, within time allowed to deliver evidence of title end 10 examine same, may have Real Property inspected by a Florida Certified Pest Control
Operator to determine if there is any visible active termite infestation or visible existing damage from termite infestation in the improvements, If either or both are lound, Buyer will
have 4 days from dale 01 written notice thereof within which 10 have all damages, whether visible' or not, inspected and estimated by a licensed builder or general contractor. Seller
shall pay valid costs of treatment and repair of all damage up to 2% of purchase price. Should such costs exceed that amount, Buyer shall have the option 01 cancelling Contract
within 5 days alter receipi of contraclor's repair estimate by giving written notice to Seller or Buyer may elecl to proceed with the transaction, in which event Buyer shall receive
a credit al closing of an amount equal to the total of the treatment and repair estimate not in excess of 2% of the purchase price, "Termites" shall be deemed to Include all wood
destroying organisms required 10 be reporled under the Florida Pest Control Act.
E. INGRESS AND EGRESS: Seller warrants and represents thaI there is ingress and egress 10 the Real Property sufficient for the intenc;led use as described in Paragraph VII hereof,
title to which is in accordance with Standard A.
F. LEASES: Seller shall, not less than 15 days belore closing, furnish 10 Buyer copies of all written lea~es and esloppelletters Irom each tenant specilying the nature and duralion
of the tenanl's occupancy, rental rates, advanced renl and security daPosits paid by tenan\. II Saller Is unllbh;l to obtain suCh lattar from each tanant, the same information sh,,1I be
'furnished by Seller to Buyer wilhin that time period in the form 01 a Seller's affidavit, and Buyer may theroaller contact tenants to confirm such Inlormatlon, Seller shall, al closing,
deliver and assign all original leases to Buyer. ' ..,
G. LIENS: Seller shall furnish to Buyer at time of closing an affidavit altesting to the absence, unless ulherwise provided for herein, of any financing statements, claims of lien or
potentiallienors known to Seller and further attesting that there have been no improvements or repairs to the Property lor 90 days immediately preceding date 01 closing, If Property
has been Improved or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by all general contractors, subcontractors, suppliers and materialmen
in addition to Seller's lien affidavit selting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further affirming that all charges lor improvements
or repairs which could serve as a basis for a mechanic's lien or a claim for damages have been paid or will be paid at 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 the attorney or other closing agent designated by Seller.
I. TIME: Time periods herein 01 less than 6 days shall in the computation exclude Saturdays, Sundays and stale or nationa'j legal holidays, and any time periOd provided for herein
which shall end on Saturday, Sunday or a legal holiday shall extend to 5:00 p,m, of the next business day,
J. DOCUMENTS FOR CLOSING: Seller shall furnish the deed, bill of sale, mechanic's lien affidavit, assignments 01 leases, tenant and mortgagee estoppellelters and corrective inslruments,
Buyer shall furnish closing statement, mortgage, mortgage note, security agreement and financing statements,
K. EXPENSES: Documentary stamps on the deed and recording corrective instruments shall be paid by Seller. Documentary stamps, inlangible tax and recording purchase money
mortgage 10 Seller, deed and financing statements shall be paid by Buyer.
L PRORATIONS; CREDITS: Taxes, assessments, rent, Interest, insurance and other expenses and revenue of Property shall be prorated through day before closing, Buyer shall have
the option 01 taking over any existing policies 01 insurance, if assumable, in which event premiums shall be prorated, Cash at closing shall be increased or decreased as may be
required by prorations. Prorations will be made through day prior 10 occupancy if occupancy occurs before closing, Advance rent and security deposits will be credited to Buyer and
escrow deposits held by mortgagee will be credited to Seller. Taxes shall be prorated based on the current year's tax with due allowance made for maximum allowable discount,
homestead and olher exemptions. II Closing occurs at a date when the current year's millage is not fixed and current year's assessmenl is available, taxes will be prorated based
upon such assessment and the prior year's millage, If current year's assessment is not available, then taxes will be prorated on the prior year's tax. II there are completed improvements
on the Real Property by,January 1st of year 01 closing which improvements were not in existence on January 1st of Iheprior year, then taxes shall be prorated based upon the
prior year's millage and at an. equitable assessment to be agreed upon between the parties, failing which, request will be made 10 Ihe County Property Appraiser lor an informal
assessment taking into consideration available exemptions, Any tax proration based on an estimate shall, at request of eilller Buyer or Seller, be subsequently readjusted upon receipt
01 tax bill on condition that a statement to that effect is In the closing statement.
M. SPECfAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as 01 date of closing (not as of Effective Date) are to be paid by Seller. Pending liens
as of date of closing shall be assumed by Buyer. If the improvement has been substantially completed as of Effective Date, sllch pending lien shall be considered certified, confirmed
or ratilied and Seller shall, at closing, be charged an amount equal to the last estimate of assessment lor the improvement b~' the public body,
N. INSPECTION, REPAIR AND MAtNTENANCE: Seller warrants that, as of 10 days prior to closing, the ceiling, roof (including the fascia and soffits) and exterior and interior w~lIs,
seawalls (or equivalent) .and dockage do not have any VISIBLE EVIDENCE of leaks, waler damage or structural damage and that the septic tank, pool, all appliances, mechari::al
ilems, heating, cooling, electrical, plumbing systems and maChinery are in WORKING CONDITION, Buyer may, at Buyer's expense, have inspections made of those items by a firm
or individual specializing in home inspections and holding an occupational ticense for such purpose (if required) or by an appropriately licensed Florida contractor. Buyer shall, prior
to Buyer's occupancy or not less than 10 days prior to closing, whichever occurs first, report in writing to Seller such items that do not meet the above standards as to defects.
Unless Buyer reports such defects within that time, Buyer shall be deemed to have waived Seller's warranties as to defects not, reported. If repairs or replacements are required,
Seller shall cause such repairs to be made and shall pay up to 3% of the purchase price for such repairs or replacements as may be required in order to place such items in WORKING
CONDITION. If the cost for such repairs or replacement exceeds 3% of the purchase price, Buyer or Seller may elect to pay such excess, lailing which either party may cancel
this Contract. If Seller is unable to correct the defects prior to closing, the cost thereof shall be paid into escrow al closing, Seller will, upon reasonable notice, provide utililies service
and access 10 the Property for inspections, inctuding a walk-through prior to closing. Between Effective Date and the date of closing, except lor repairs required by this Standard,
Seller shall maintain Property, including, but not limited to, the lawn and shrubbery, in the condition herein warranted, ordinary wear and tear excepted.
O. RISK OF LOSS: If the Property is damaged by fire or other casualty before closing and cost 01 restoration does not exceed 3% of the assessed valuation of Ihe Property so
damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms of Contract with restoration costs escrowed at closing, If Ihe cost
of restoration exceeds 3% of the assessed valuation of the improvements so damaged, Buyer shall have the option of either taking Property as is, together with either the 3% or
any insurance proceeds payable by virtue of such loss or damage, or 01 cancelling this Contract and receiving return 01 deposit(s).
P. PROCEEDS OF SALE; CLOSING PROCEDURE: The deed shall be recorded upon clearance of funds"If abstract, evidence of title shall be continued at Buyer's expense to show
title in Buyer, without any encumbrances or change which would render Seller's tille unmarketable Irom the date of the last evidence, Proceeds of the sale shall be held in escrow
by Seller's attorney or by such other mulually acceptable escrow agent for a period 01 not longer than 5 days from and aller closing date. If Seller's litle is rendered unmarketable,
through no fault of Buyer, Buyer shall, within tile 5-day period, notify Seller in writing of the defect and Seller shall have 30 days from date of receipt 01 such nolilication to cure
the defect. If Seller fails 10 timely cure Ihe defect, all deposit(s) and Closing flJnds shall, upon written demand by Buyer and within 5 days after demand, be returned 10 Buyer and
simultaneously with such repayment, Buyer, shall return Personalty and vacate Property and reconvey it to Seller by special warranty deed. If Buyer fails to make timely demand lor
refund. Buyer shall take title as is, waiving all rights against Seller as to any intervening delect except as may be available to Buyer by virtue of warranties contained in ihe deed,
If a portion of the purchase price is to be derived from institulional financing or refinancing, requirements of tile lending institution as to place, time 01 "day and procedures for closing,
and lor disbursement of mortgage proceedS shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a wrllten commitment
thai it will nct withhold disbursement of mortgage proceeds as a result of any title defect allributable to Buyer-mortgagor. The escrow and closing procedure required by this Standard
may be waived if tille agent insures adverse matters pursuant to Section 627,7841, F,S, (1989), as amended.
a. ESCROW: Any escrow agent ("A'Jent") 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 Contract. Failure of clearance of funds shall not excuse Buyer's performance, If in doubt as to Agent's dulies
or Iiat,iilties under the provisions of Contract, Agent may, at Agent's option, continue to hold Ihe subject mailer of the escrow until the parties mutually agree 10 its disbursement
or untit a judgment of a court of competent jurisdiction shall determine the rights of the parties or Agent may deposit same with I!';e clerk of the circuit court having jurisdiction
of the dispute. Upon notitYlng all parties concerned of such action, all liability on the part of Agent shall lully terminate, except to tne extent of accounting for any itemsprevioLlsly
delivered cut of escrow. If a ticensed real estate broker. Agent will comply with provisions of Chapter 475, F.S, (1989), as amended, Any suit between Buyer and Seller wherein Agenl
is made a party because of acting as Agent hereunder, or ,in any suit wherein Agent inlerpleads the subject mailer of tile escrow, Agent shall recover reasonable attorney's fees
and costs incurred wilh the lees and costs 10 be paid Irom and out of the escrowed lunds or equivalent and charged and awarded as court costs in favor 01 the prevailing party
Parties agree that Agent shall not be liable to any party or person for misdelivery to Buyer or Seller 01 items subject to tl1is escrow, unless such misdelivery is due to willlul breacl'
of this Contracl or gross negligence of Agent.
R. ATTORNEY'S FEES; COSTS: In any litigation arising out of this Contract, the prevailing party in such litigation which, for the purposes of Ihis Sta.ldurd, sh,,1I include Seller, Buyer
listing broker, Buyer's broker and any subagents to the listing broker or Buyer's broker, shall be entilled to recover reasonable allorney's lees and costs.
S, FAILURE OF PERFORMANCE: If Buyer fails to perform this Contract wilhin the time specilied, including payment of all deposit(s), the deposit(s) paid by Buyer and deposit(s
agreed to be paid, may be retained by or for the account of Seller as agreed upon liquidated damages, consideration for the execution of Ihis Conlract and in full settlement of anI
'claims; whereupon, Buyer and Seller.shall be relieved of all obligations under Contract; or Seller, at Seller's option, may proceed in equity to enforce Seller's rights under this Contract
If, for any reason other Ihan failure of Seller to make Seller's title marketable aller diligent ellort, Seller fuils, neglects or refuses to perform this Contruct, the Buyer may seek specific
performance or elect to receive the return of Buyer's deposit(s) without thereby waivll1g any aclion lor damuges resulting from Seller's breach,
T. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE: Neither tl1is Contract, nor any notice 01 it, shall be recorded in any public records, This Contract shall bind an(
inure 10 the benefit 01 the parties and their successors in inlerest. Whenever tile context permits, Singular shall include plural and one gender sl1all inClude all, Notice givlln by 0
to the allorney for any party shalf be as effective as if given by or to that party,
U. CONVEYANCE: Seller shall convey title 10 Ihe Real Property by statutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to tile status of Soller
subject only to mailers contained in Paragraph VII and those olherwise accepted by Buyer, Personally shall, at request ot Buyer, be transferred by an absolute bill 01 sale wilh V/arrant~
of litle, subject only to such mailers as may be olherwise provided for herein,
V, OTHER AGREEMENTS: No prior or present agreements or representations sl1all be binding upon Buyer or Seller unless included in tl1is Contract. No modification or change il
this Contract sl1all be valid or binding upon the parties unless in writing and executed by thl3 party or parties intended 10 be bound by it,
W. WARRANTIES: Seller warrants that there are no lacts known to Seller materially affecting the value of tile Real Property which are not readity observoble by Buyer or whicl
lIave'not been disctosed to Buyer. '