MARGARET DIXON ALGEE
I;
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RONALD (RON) E. SOMERS
President
S"",";I,_ "I (,'O'''I(,,"t
S'l'EWAI{'r'l'rl'IAE
OF CLEARWATER
P,O. Box 2756
Clearwater, Florida 34617
(813) 441.2689
1290 Court Street
Clearwater, Florida 34616
AtJnlORlZATION AND ACKNOr'lLEDGEMENT FORM
Reference:
FILE NO.
91060110
LEGAL
LOl'S 8, 9 and 11, LESS S 50' FOR STREET, BLK 2,
SELLER MARGARET DIXON ALGEE
MOASE & HARRISON SUB
BUYER
CITY OF CLEARWATER, FLORIDA
We hereby approve and acknowledge receipt of a copy of the Statement. and actual
cost (DISCLOSURE/SETl'LE1'1ENT STATEMENT - HUD FORM 1) and authorized disbursement
of funds as shown therein this 17 day of DECEMBER , 19 91 We further
acknowledge that we understand utility bills are not included in this statement
and that the proration of taxes as shown in the statement of actual cost is
based on the latest infonnation available. If any changes are to be ma,de in this
proration when the tax bill is received, it will be handled l-..etween the parties of
this transaction. Stewart Title Company of Clearwater, Inc., will not be held
responsible. It is further understood that Stewart Title Comp:my of Clearwater,
Inc., cannot, at this time, assertain if there will be personal property tax on
subject property or an amount on which to base a proration. Any proration necessary
when tax bills become available will be handled between the parties to this
transaction, outside of Stewart Title Company Company of Clearwater, Inc.
Stewart Title Company of Clearwater, Inc., will be not held responsible.
'llJAT AIL UITLITY BilLS (WATER, ~, ELEClRIC, MAIN'.l>>mNCE FEES) HAVE BEEN PAlD
OR WILL BE PAID uroN REX:EIPI' OF FINAL BilLS.
hi. Jt ~.
INITIALS
INrrIALS
~J:q~v fir
DIXON ALGEE
BUYER'S FORWARDING ADDRESS:
HOOf: PHONE#
hDRK PHONE#
WORK PHONE#
'llJIS IS TO FURTHER AtJ'IHORIZE
CHANGES NECESSARY TO '!HE CLOSING STATEMENl'.
TO APPROVE.ANY
T~ BE FILLED IN PERSONALL t
BY SELLER OR BORROWER IN HIS OWN HANDWRITING
INDEMNITY AND AFFIDAVIT AS TO DEBTS, LIENS, AND POSSESSION
USE SEPARATE FORM FOR EACH PARTY
MARGARET DIXON ALGEE
Seller or Owner-Borrower
LOI'S 8, 9 and 11, LESS S 50 I FOR STREET, ELK 2, MOASE & HARRISON SUB
Contractor (if new construction)
Purchaser
personally known to me to be the person whose name is subscribed hereto, and upon his oath deposes and says:
I, the seller, owner-borrower, and/or contractor, represent to the purchaser and/or lender in this transaction
that to my knowledge there are:
I. No unpaid debts for plumbing fixtures, water heaters, floor furnaces, air conditioners, radio or television an-
tennae, carpeting, rugs, lawn sprinkling systems, venetian blinds, window shades, draperies, electric appliances,
fences, street paving, or any personal property or fixtures that are located on the subject property described
above, and that no such items have been purchased on time payment contracts, and there are no security
interests on such property secured by a financing statement, security agreement or otherwise except the
following: (If none, so state.)
NAME AND ADDRESS OF SECURED PARTY
.
2. No loans of any kind on said property except the following: (If none, so state.)
NAME AND ADDRESS OF CREDITOR
Approximate Amoupt A/A
;7 f1/l (/ /11 ;,vl f\ '
3. AU labor and material used in the construction of improvements or repairs on the above described property
have been paid for and there are now no unpaid labor or material claims against the improvements or the
property upon which same are situated, and I hereby declare that all sums of money due for the erection of
improvements or repairs have been fully paid and satisfied, except: (If none, so state.)
NAME AND ADDRESS OF SUPPLIER OF LABOR, SERVICES OR MA TERIALS Appro~l"!,ate AmOlm.t /)--"1'
'7 7 !/Zt.-f/ !II ( , '
{"
4. I, the purchaser, represent that I have no knowledge of any debts or liens of any kind other than those listed
above, except: (If none, so state.)
NAME AND ADDRESS OF SECURED PARTY, CREDITOR, SUPPLIER OF
LABOR OR MATERIALS Approximate Amount
S. I, the owner-borrower, or purchaser, have not been given notice of the furnishing or intent to furnish any labor,
services, or materials in connection with any improvements or repairs to said property from any person or firms,
except: (If none, so state.)
SUPPLIER OR LABOR, SERVICES OR MATERIALS ADDRESS
6. I, the undersigned owner, further certify th2.t the real estate and personal property above described are in the
actual possession of the undersigned and is not in the possession, actual or constructive, of any person, persons,
or organizations holding or claiming same, adversely to the undersigned under contract, lease, or any other color
of title or right of possession.
The improvements or repairs to said property are now completed and have been accepted by purchaser and/or
owner-borrower.
INDEMNITY: I, THE SELLER, OWNER-BORROWER, AND/OR CONTRACTOR, AGREE TO PAY ON DEMAND
TO THE PURCHASERS AND/OR LENDER IN THIS TRANSACTION, THEIR SUCCESSORS AND ASSIGNS, ALL
AMOUNTS SECURED BY ANY AND ALL LIENS NOT SHOWN ABOVE, TOGETHER WITH ALL COSTS, LOSS
AND AITORNEY'S FEES THAT SAID PARTIES MAY INCUR IN CONNECTION WITH SUCH UNMENTIQNED
LIENS, PROVIDED SAID LIENS EITHER CURRENTLY APPLY TO SUBJECT PROPERTY, OR A PART THERE-
OF, OR ARE SUBSEQUENTLY ESTABLISHED AGAINST SAID PROPERTY AND ARE CREATED BY ME,
KNOWN TO ME OR HAVE AN INCEPTION DATE PRIOR TO THE CONSUMMATION OF THIS TRANSACTION.
I realize that the purchaser and/or lender i this transaction are relying on the representation contained herein in purchasing
sa e ing money thereon nd w not purchase sa e lend money thereon unless said representations were made.
VLt1 . '
ON ALGEE
Z7/
/ day of
DECEMBER
91
,19_.
SWO
My Commission Expires:
7 elf 7;)
Rev. 1/88
NOTE: Thi. rorm I. '0 be .i,ned by ..lie, in .... 01 ..Ie, U no ..Ie. i. II '0 be tiped by ,he o.ne......"o"., Ir ,here it Iny new con.'Nclion, .he contrlOlo, mull 11.0 join in .his rorm
or Ii." . Ie,.nte one.
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St",,'I;/)' nl (:o",,.,u:,
RONALD IRONI E. SOMERS
President
s~rEWAl~'l" ~rrl"LE
OF CLEARWATER
p,o, Box 2756
Clearwater, Florida 34617
(813) 441-2689
1290 Court Street
Cleerw8ter, Florida 34616
D I S C LOS U R E
We, the Owners of that certain real property located at
LOTS 8,9 and 11, LESS S 50' FOR S'IRE~, BLK 2, MOASE & HARRISON SUB
Pinellas County, Florida, do hereby disclose the following facts
known to me which may materially affect the value or desirability
of said property.
I HEREBY CERTIFY that I have no knowledge of any facts or
defects in said property which may materially effect the value or
desirability of said property, except as set forth above. I
acknowledge that this disclosure will be given to the listing
broker, the selling broker, and any prospective buyer.
~jdJCIJ14, A/J(OJ.i
1 ness
STATE OF
COUNTY OF
FLORIDA
PINELLAS
SWORN TO AND SUBSCRIBED BEFORE ME THIS
/7tJ
DAY OF
DECEMBER
,19 91.
My Commission Expires:
Not
1'dt/.c; d
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NUN-l;'Um~.LGN CE;HT1FICNl'.l011 UY INIJIVIIJU^,.1 'nmW.WEHOH
1.
SocU.un V1t15 ur Lhe IlIterllal Hevellue Cwe pL'uv.hJen L1mt 0 trd\lS[eree (,[ 0 United
Stotes reo1 pL'uperty illtet:eat IllUSt withhu1d tux :lr the trolls[et-or is Ij roreiYII l)Crsol1.
III ordeJ: to 111[01:111 Llie trulls[erco Lhi.lt wlLhholtUIIIJ of Lox 1u lIot requlred lllXJl1 lhe
II It i l>.y MARGAREI' DIXON ALGEE
l . slXJs.. . ..011
2.
of lhe Un!led Sloles 1'eoJ. l'toperly cJescdbacJ os follows I
Im'S 8,9 and 11, LESS S 50' FOR STREET, BLK 2, MOASE & HARRISON SUB
tha unuel-slgnoo transferor certifies and declares by "'eane of thle cerlificoUull, Lhe
(ollowlng:
(a) 1 (We) 0/11 (are) not 1101I-residellt a11ell(s) (or t:AJrposes of Ullited Sloles illCOlIlO
laxat.toll onr.l,
(b) ~1y Unil r..u Slotes laYPt'pe.r identifyillg 111IIllber(S) (Social Securily Number) is/ore I
Ni'l'm SCX:;lM.l S~X:U1U'l'Y NlJf'lIJE;H
-MARGARET DIXON ALGEE U R III (12 -,:;~-13 'If
II
"
"
(c) ~1y home Ulkh:eua Js
(olladloo addJlJ.onal lXJye .tr lIecessm:y)
(d) Thele ore 110 oLhel: pe,I:SOIIS who hove 011 oWlle,:uh.l.p JnLercsL J.II Lhe olxJVe-cJeucd.Led
Ptu(Jerty oLhor limn Lhuse lJO,:sollS set (CRUI obove 111 sulJpat:'oyroph (IJ).
J. '.l.lIe 1IIldel'sJ.gllcd hereby [ul.ther cert.l(lea OIxJ rJeclores:
(a) .t (wo) understalld that the t:AJrchaser of lhe above described propGrty illlellus '
to J:cly on the fotegoinU r.epresentatJ.ons 111 cOlllleeLl_oll wIth the 1I11Jled Slnles
Il'uteJ.UIl Inveslmellt ill Heal Properly Tux l\ct. (94 Slatute 2(;U2 tiS 1II11el1ded).
(IJ) ,I, (wId ulItlt!J:nlulId Lltla certJ.r.lcolJ.ulI IIny l;u tllsc.l.ooec.l Lo Lho 1"l(~tllt.11 llev81lue
Ser.v.l.ce by l,:ollsr.eree and that ony falsn staLement containeu ill L1tls certJr.l.caLJ.ulI
Il1i.lY lJu I.JlIII.l.f:lh(!( I hy f.l.1 10, 1l\lpd.nolllllClllt 01; both.
Under pOllOlties of perjury I (we) ueclare I (we) have exomllleu carefully L111s cerli-
f!cation ond it is LL"ue, co,:rect alld cumplete.
DECEMBER
PINELLAS FLORIDA
CW'wY' .
/.... uJ-;, ,', ,~
~(~ ALGEE. ~~u ftr::
W In
('lhis docllment hillS\:' be retained until the end of the fifth taxable year followill~ the,l
taxable year In whIch the ltal1sfer takes place).
CONSUJJl' YOUIt l\'rl'01lNI!:Y l\Hu/on 'l'l\X l\l)VISOn - NO HEPltESEN'l'J\'1'lON Oil HEC()(I1I'1r~'NU1\'l'lON IS t-11\U8 UY
S'l'~W1\m.' 'J.'.l'J'I.lI~ INS\ml\NCI~ CU'1PI\N'i l\NU/oll CONCEltNJ.NG 'lI II:;
LI!:Gl\I.I SUrrJCJU~Ci' l\HU/oH 'J'l\X CONSQUI!:NCI!:S 'Oli' '11IlS lXJCUf'lI!Nl', YOU Nl\'i IJI!; lH~QUIH1;U '1'0 l;'lLI~
^ COpy Ol;' '1'11 W I.xX:IJMUfl' W.1'l'1I '1'11I~ IN'l'EHNl\rJ IU!;vE;NIJI~ SE:nV.lCI!:. '.I1I1!:SI~ l\HI!: UUI~S'r.lONS FOil YUUH
l\'l'lUnNI~'i on '1'l\X l\tJv 1 son .
"
....,
S'1'l\'l'E olr
COUNTY O~"
FLORIDA
PlNELLAS
I III!;1lIID'i CI:.It'1'll'''i that Oil Lhls day, before Ille, on officer duly authorized ill the state
aforesaid alltl itl the Coul1ty ar:oresaid to taka oclmowJ.eclglllel1l:.s, personally (lppeared
MARGARET DIXON ALGEE
to me Imown to lJe the perslJlIS described in aud whu executed Lho foregoing .lllsLuUlIeut
auel they odmowlroyed oo(ore hIe thot:. they executed the SOllie. (J
WITNESS hlY hOlld Dlld official seal in lhe S~ate last aforesaid lIlls /1 f . uny
of DECEMBER 19~_.
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INFORMATION FOR REAL ESTATE 1099-S REPORT FILING
section 6045 of the Internal Revenue Code, as amended by.the Tax
Reform Act of 1986, requires the reporting of certain information on
every real estate transaction. From the information you provide
below, a Form 1099-S will be produced, a copy of it will be furnished
to the I.R.S. and to you no later than January 31 of the next year,
and a copy may be sent to other third parties. If you fail to furnish
adequate information (in particular, a taxpayer 10 number), then you
will be subject to all I.R.S. Regulations, including the possible
withholding of twenty percent (20%) of the current sales price.
File Number: · 910601110
Taxpayer 10 Number:Seller 1
rJ !JJ~-;l:<-ljft:eller 2
Taxpayer 10 Type:
2
,(1 = business, 2 = individual)
SELLER 1 NAME:
ALGEE
First & Middle:
MARGAREI' DIXON
Last:
SELLER 2 NAME:
Last:
First & Middle:
MAILING ADDRESS (as of January 31 of next year)
SELLER 1:
Street:
~r5,cJ.
City:
State:
c#b/.
Zip code:.3 10 ,tJr
SELLER
Street:
City:
State:
Zip Code:
TRANSACTION INFORMATION
Closing Date (MMDDYY):
12/17/91
Contract Sales Price: Seller 1 -
10,000.00
Seller 2 -
(If multiple sellers please allocate the sales price among the sellers)
Description of Property:
Street Address: 1127 & 1139, BRavNELL S'IREEI', CLEARWATER, FL 34616
Legal Description: LCYrS 8,9 and 11, LESS S 50' FOR S'IREEI', BLK 2, MOASE & HARRISON SUB
Under penal ties of perjury, I, MARGAREI' DIXON ALGEE
(Name of Seller (s))
certify that the number shown on this form is my correct Taxpayer
Identification Number and that the other information is correct to the
best of my understanding and I understand that it will appear on a Form
1099-S that will be sent to me and to the Interna evenue Servi e
Date: /:?// 7 / cf/ Seller 1 Signature: d/uICi/J~{
Date:
Seller - 2 Signature:
CLOSING AGENT INFORMATION (to be completed by closing agent)
Name: STEWART TITLE CCX\1PANY OF CLEARWATER, INC.
Mailing Address:
1290 COURT S'I'REZI'
City:
CLEARWATER
State:
FL
Zip Code:
34616
Taxpayer IO Number":
59-1433918
Title Insurance- Stewart Title
See Joanne f/ Charles Dixon
OR 776Z Pg ZS9
Included in same policyl file
Jt~~~ Dixon f/ Audrey Dixon Myrick
OR 776Z Pg Z6:l
Joanne Dixon Murray f/ Charles Dixon
OR 776Z PO Z6Z
Joseph Dixon
OR 776Z PHO Z63
Delores Dixon Wilson
OR 776Z Pg Z6S
"
Hershell Bobby Dixon
OR 776Z PO Z66
Bettye Dixon Dwight
OR 776Z PO Z67
Jean Dixon Chaney
OR 776Z PO Z68
It.'"
,("~")
)
md , ("Buyer")
)f (Phone )
1ereby agree that the Seller shall sell and Buyer shall buy the fOllowing real property ("Real Property") and personal property ("Personalty") (collectively "Property") upon the followir
erms and conditions which INCLUDE the Standards for Real Estate Transactions printed on the reverse or attached ("Standard(s)") and any addendum to this instrument.
Street address, city, zip, of the Property is:
Personalty:
iI.
PURCHASE PRiCE.........,......"......,.,...........,.,.."..,..,............,..,.,.
PAYMENT:
(a) Deposit/s) to be held in escrow by
(b) Subject to AND assumption of mortgage in good standing in favor of
.................................................................$ t 3D. DO 0, () (\
in the amount of $
.!
having an approximate present principal balance of $
(c) Purchase money mortgage and mortgage note bearing annual interest at % on terms set forth herein, in amount of ,..". ,.. $
(d) Other: $
(e) Balance to close (U,S. cash, LOCALLY DRAWN certified or cashier's check), subject to adjustments and prorations, ,..,..,." '.,.",.".. $ I '3 q,. n DO.. /) (3
II. TIME FOR A EPTANCE: EFFE9!I{E DATE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION communicated in writing between the partieE
m or before .e.. q I , the deposit(s) will, at Buyer's option, be returned to Buyer and the offer withdrawn
'he. date oi this Contract ("Effective Date") will be the date when the last one of the Buyer and the Seller has signed this offer.
v. FINAN, CING: (a) If the purchase price or any PjlrJ pf it is to be financed by a third party loan, this Contract for Sale and Purchase ~'Contract") is conditioned on the Buyer
btaining a written commitment for the loan within t:i-' fJ days from Effective Date, at an initial interest rate not to exceed '" I !/::1 %; term of years;
,nd in the prinCipal amount of $ , Buyer will make application within days from Effective Date, and use reasonable diligence to obtain the loan com-
"itent and, thereafter, to meet the terms and conditions of the commitirnent and to close the loan, Buyer shall pay all loan expenses. If Buyer fails to obtain the loan commitment and,
JI'Omptly notifies Seller in writing, or after diligent effort fails to meet the terms and conditions of the commitment or to waive Buyer's rights under this subparagraph within the time
;tated for obtaining the commitment, then either party may cancel the Contract and Buyer shall be refunded the deposit(s).
(b) The existing mortgage described in Paragraph lI(b) above has (CHECK (1) OR (2)): (1) 0 a variable interest rate OR (2) Oa fixed interest rate of % per annum.
-'\t time of title transfer some fix,ed interest rates are subjeqt to increase. II increased, the rate shall not exceed % per annum. Seller shall, within _
jays, from Effective Date, furnish a statement from all mortgagees stating principal balances, method of payment, interest rate and status of mortgages. If Buyer has agreed to assume
'mortgage which requires approval of Buyer by the mortgagee lor assumption, then Buyer shall promptly obtain all required applications and will diligently complete and return them
:I the mortgagee. Arry mortgagee charge(s) not to exceed $ shall be paid by (if not filled in, equally divided). II the Buyer is not accepted
,y mortgagee or the requirements lor assumption are not in accordance with the terms of the Contract or mortgagee makes a charge in excess 01 the stated amount, Seller or
iUyer may rescind this Contract by fomPt written notice to the other party unless either elects to pay the increase in interest rate or excess mortgagee charges, '
I. nTLE EVIDENCE: At least ' days before closing date, SeUer shall, at Seller's expense, deliver to Buyer or B7uer's attorney, in accordance wi,th Standard A, (Check (1)
,r (2)): (1) 0 abstract of title OR (2).Il title insurance commitment. /
fl. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on '1 '11 '11. unless extended by other provisions of Contract.
'II. RESTRICTIONS; EASEMENTS; LIMITATiONS: Buyer snail take-'litle subject to: zoning, restrictions, prohibitions and other requirements imposed by governmental authority; restrictions
nd matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are to be located contiguous to Real Property lines and
:It more than 10 feet in width as to the rear or front lines and 7'12 feet in width as to the side lines, unless otherwise speCified herein); taxes for year of closing and subsequent
ears; as!lumed mortgages and purchase money mortgages, if any; other:
'j
rovided, that there exists at closing no violation 01 the loregoing and none of them prevents use 01 Real Property lor purpose(s),
'III. OCCUPANCY: Seller warrants that there are no parties i[1 9,2Cupancy other than Seller, but if Property is intended to be rented or occupied beyond closing, the lact and terms
lereof shall be stated herein, and lbe tenant(s) or occupants dt8eIosed pursuant to Standard F. Seller agrees to deliver occupancy 01 Property at time of closing unless otherwise
:ated herein,,)f occupancy is to be delivered belore closing, Buyer assumes all risk of loss to Property from date of occupancy, shall be responsible and liable for maintenance Irom
1at date. and shall be deemed to have aecepted Property in their existing condition as of time of taking occupancy unless otherwise stated herein or in a separate writing.
X. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions shall control all printed provisions of Contract in conflict with them.
~. INSULAtiON RIDER: II Contract is utilized for t1~e sale of a new residence, the Insulation Rider or equivalent may be attached.
{I. COASTAL CONSTRUCTION CONTROL LINE (MCCCL") RIDER: II Contract is utilized for the sale of Property, affected by the CCCL, Chapter 161, F.S., (1985), as amended,
hall apply and the CCCL Rider or equivalent may be attached to this Contract.
{II. FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA") RIDER: The parties shall comply with the provisions 01 FIRPTA and applicable regulations which could
;quire Seller to provide additional cash at closing to meet withholding requ;rements, and the FIRPTA Rider or equivalent may be attached to this Contract.
:11I. ASSIGNABILITY: (CHECK (1) or (2)): Buyer (1) 0 may assign OR (2) ~ may not assign Contract.
~IV. SPECIAL CLAUSES: (CHECK ( 1) or (2)): Addendum (1) 0 is attached OR (2) ~ is not applicable.
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 ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
Approval does not constitute an opinion that any of the teans and conditions in this Contmet should be accepted by the parties in a particular transaction. Terms
and conditions should be negotiated based upon the respectIVe interests, objectives and bargaining positions of all interested persons,
COPYRIGHT 1988 BY THE FLORIDA BAR AND THE FLORIDA ASSO NG.
Date
b-?-f( Date
CITY OF CLEARWATER
\
.
City ~/l~;ate
~/ijf~e i
'Iff I
(Escrow Agent)
"l
1 IF NO LISTING AGREEMENT IS CURRENTLY IN EFFECT:
Seller shall pay the Broker named below, at time of closlOg, from the disbursements of the proceedS 01 the sale, compensation in the amount of (COMPLETE ONLY ONE)
- % of gross purchase price OR $ t /) iJ C> O. 00 ,for Broker's services in effecting the sale by finding the Buyer ready, willing and able to purchase pursuant to the foregoing
,ntract. If Buyer fails to perform and deposit(s) is retained, 50% thereof, but not exceeding the Broker's fee above provided, shall be paid Broker, as lull consideration for Broker's
'vices including costs expended by Broker, and the balance shall be paid to Seller. II the transaction shall not close because 01 refusal or failure 01 Seller to perform, Seller shall
y the full lee to Broker on demand. In any litigation arising out 01 the Contract concerning the Broker's fee, the prevailing party shall recover re y fees and costs.
B{ CU,J- /;lultJ rtfS (:jQa (Ii' TtJc...
(firm name of Broker)
flL1JfW'('j ~ J-I e h Y,
(name of cooperating sub-agent)
~/
(authorized signatory)
~
STANDARDS FOR REAL ESTATE TRANSACTIONS
A. EVIDENCE OF TITLE: (1) An abstract of title prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing fin
purporting to be iln accur:'te synopsIs of the instruments affecting title to Real Property recorded in the public records of the county wherein Real Property is located, through Effect,
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 becor
the property of Buyer, subjbct to the right of retention thereof by first mortgagee until fully paid, (2) A title insurance commitment issued by a Florida licensed tille insurer agreei
to issue to Buyer, upon recording of the deed to Buyer, an owner's policy of title insurance in the amount of the ourchase price, insuring Buyer's title to Real Property, subject or
to !lens, exumbrances, exceptions or qualification set forth in th,is Contract and those which shall be discharged by Seller at or before closing. Seller shall convey a marketa!
title subject only to liens, encumbrances, exceptions or qualifications set forth in Contract Marketable title shall be determined according to applicable Tille Standards adopted!
authority of The Florida Bar and in accordance with law, Buyer shall have 30 days, if abstract, or 5 dilYs, if tille commitment, from date of receiving evidence of tille to examil
it, If tille is found defective, Buyer shall, within 3 days, notify Seller In writing specifying defect(s), If the defect(s) render title unmarketable, Seller .will have 120 days from recel
of notice within which to remove the defect(s), failir;1g which Buyer shall have the option of either accepting the title as it then is or demanding a refund of deposit(s) paid .whi,
shall immediately be returned to Buyer; thereupon Buyer and Seller shall release one another of all further obligations under the Contract. Seller will, if tille is found unrnarketab,
use diligent effort to correct defect(s) in tit/e within the time provided therefor, including the bringing of necessary suits.
B. PURCHASE MONEY MORTG~rGir; SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage note to Seller shall provide for a 30 day grace period
the event of default if a .f~tmortga\le _and -!l 15 day grace period if a second or lesser mortgage; shall provide for right of prepayment in whole or in part without penalty; sh
not permit acceleration cr interest adjustnlenl in event of resale of Real Property; shall require all prior lien and encumbrances to be kept in good standing and forbid modificatiol
of or future advances under prior mortgage(s);' !'lJ1d the mortgage, note and security agreement shall be otherwise in form and content required by Seller; but Seller may only requi
clauses customarily I,ound,fn mortgages, J~tg;:lge Mtes, and security agreements generally utilized by saving and loan institutions, or state or national bar1ks located in the coun
wherein Real Properl;i is-located. P.l1 Persc'1,lIt'1 and leases being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evidenced by recora,
financing statements._1~.a:bal!()On mortgage;-1l1e.final payment will exceed the periodic payments thereon,
C, SURVEY: Buyer, aI ~uyer's expense_, Within time, 3110wed to deliver evidence of title and to examine S3me, I113Y have Real Property surveyed and certified by a registered Flori,
surveyor. If surve-y show~ encroachment ,on 'Real Property or th:!t improvements locab~d on Real Property encroach on setback lines, easements, lands of others, or violate any restrictioJ'
Contract covenants or :ip~~icable governmeJ)lal regu_leliOll, the same shall constitute a title defect.
D. TERMITES: Buyer, fit Buyer's expense, within,iime allowed to deliver evidence of title and to examine same, may have Real Property inspected by a Florida ,Certified Pest Cont,
Operator to determil1e if thtre is any visible acjf\ie lermite infestation or visible existing,.-damage from termite infestation in the improvements. If either or both are found, Buyer v
ilave 4 days from date of written notice thereof, will-'I which to have all damages; whether visible or not, inspected and estimated by a licensed builder or general contractor. Sel!
;I,all pay valid costs - of !r€latolent and repair of all ddmage up to 2% <i' PLrrch~se:, price: SI10uld such costs exceed that amount, Buyer shall have the option of cancelling Contra
"iJit/-,n 5 d,'ys after receipt of contr~ctor's repair estimate by giving wrjlt~m-,notice "to Seller or Buyer may elect to proceed with the transaction, in which ev~nt Buyer shall receh
a cridit At closing of an amount equal to t/1e total of the treatment and repair estimate not in excess of 2% of the purchase price. "Termites" shall be deemed to include all woe
destroying organisms re.,uired to be reported under the Florida Pest Control Act.
E. INGRE~S AND EGRESS: Seller warrants and represents that there is ingress and egress to the Real Property sufficient for the intended use as described in Paragraph VII herec
title to which is in accordance With Standard A,
F, I.EASES: Seller shall, not less than 15 Jays before closing, furnish 10 Buyer copies of all written leases and estoppel letters from each tenant specifying the nature and duratic
,,11 !hf.- tenant's occupancy, rental ratr-s, advanced rent and security deposits paid by tenant, If Seller is unable to obtain such letter from each tenant, the same information shall t
furnished by Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenants to confirm such information, Seller shall, at closin
dLiiv,'r and assign all original leases to Buyer. .
'G. LIENS: Se':~r shall furnish to Buyer at time of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statements, claims of lien (
potential lienor::; known to Seller and further attesting that there have been no improvements or repairs to Property for 90 days immediately preceding date of closing, If Propen
has been improved, or repaired within that time, Seller shall deliver releases or waivers of mechanics' liens executed by aHgeneral contractors, subcontractors, suppliers, and materialmF.
In addition to S3l1er's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and materialmen and further affirming that all charges for improvement
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 c1osirlg,
H. "LACE OF CLOSING: Closing shall be held in the county where Rea: Property is located, at the office of the attorney or other <;Iosing agent designated by Seller. '
I. TIME: Time is of the essence of this Contract. Time periods herein of less than 6 days shall in the computation exclude Saturdays, Sundays and state or national legal holiday,
,md any tirr.,' period provided for herein which shall end on Saturday, Sunday or legal holiday shall extend to 5:00 p,m, of the next business day,
J. DOCUMENTS.FOR CLOSING: Seller shall furnish deed, bill of sale, mechanic's lien affidavit, assignments of leases, tenant aAd mortgagee estoppe1lellers, and corrective instrument,
,Lyer shall furnish closing statement, mortgage, mortgage note, security agreement, and financing statements,
K. EXPEN~'ES: Documentary stamps on the deed and recording corrective instruments shall be paid by Seller, Documentary stamps, intangible tax and recording purchase mone
mortgage to Seller, deed and financing statements shall be paid by Buyer, .'
L. PRORATIONS; CREDITS: Taxes, assessments, rent, interest, insurance and other expenses and revenue of I}qperty shall be prorated through .day before closing. Buyer shall hav
;he option of taking over any existing policies of insurance, if assumable, in which event premiums shall be I't<lrated, Cash at closing shall be increased or decreased as may b
'"quired by prorations, Prorations will be made through day prior to occupancy if occupancy occurs before closing, Advance rent and security deposits will be credited to Buyer an
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 discour.
homestead and other exemptions, If closing occurs at a date when the current year's millage is not fixed, and current year's assessment is available, taxes will be prorated base
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, If there are completed improvement
on Real Property by January 1st of year of closing which improvements were not in existence on January 1st of the prior year then taxes shall be prorated based upon the pric
year's millage and at an equitable assessment to be agreed upon between the parties, failing which, request will be made to the County Property Appraiser for an informal assessmer
laking into consideration available exemptions, Any tax proration based on an estimate may, at request of eifher Buyer or Selrer, b~ subsequently readjusted upon receipt of tax bi
on condition that a statement to that effect is in the closing statement.
M. SPECIAL ASSESSMENT LIENS: Certified, confirmed and ratified special assessment liens as of date of closing (and not as of Effective Date) are to be paid by Seller. Pendin
liens as of date of closing shall be assumed by Buyer, If the improvement has been substantially completed as of Effective Date, such pending lien shall be considered as certifiec
confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate of assessment for the improvement by the public body.
N. INSPECTION, REPAIR AND MAINTENANCE: Seller warrants that, as of 10 days prior to closing, the ceiling, roof (including the fascia and soffits) and exterior and interior wall
do not have any VISIBLE EVIDENCE of leaks or water damage ,and that the septic tank, pool, all major appliances, heating, cooling, electrical, plumbing systems and maChinery ar'
, in WORKING CONDITION. Buyer may, at Buyer's' expense, have inspections made of those items by an appropriately Florida licensed person dealing in the construction, repair o'
, maintenance of those items and shall report in writing to Seller" such items that do not meet the above standards as to defects together with the cost of correcting them, prior t,
3lJyer's occupancy or not less than 10 days prior to closing, whichever occurs first, Unless Buyer reports such defects within that time Buyer shall be deemed to have waived Seller'
i warranties as to defects not reported, If repairs or replacement are required, Seller shall pay up to 3% of the purchase price for such repairs or replacements by an appropriatel',
Florida licensed person selected by Seller, If the cost for such repairs or replacement exceeds 3% of the purchase price, Buyer or Seller may elect to pay such excess, falling whic'
,"ether party may cancel this Contract. If Seller is unable to correct the defects prior to closing, the cost thereof shall be paid into escrow at closing, Seller will, upon reasonabl'
notice, provide utilities service for inspections, Between Effective Date and the closing, Seller shall maintain Property including but not limited to the lawn and shrubbery, in the conditic'
hE'rein warranted, ordinary wear and tear excepted. Buyer shall be permitted access for inspection of Property prior to closing in order to confirm compliance with this Standarc:
O. RISK OF LOSS: If the Property is damaged by fire or other casualty before closing and cost of restoration does not exceed 3% of the, assessed valuation of the Property s'
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 the COE
of restoration exceeds 3% of the assessed valuation of the impro'"~lllents so damaged, Buyer ,shall have the option of eilhertaking Properly as is, together with either the 3% c
any insurance proceeds payable by virtue of such loss or damage, or of cancelling Contract and receiving return of 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 shov
title in Buyer, without any encumbrances or change which would render Seller's tille unmarketable from the date of the last evidence, Proceeds of the sale shall be held in escrov
by Seller's attorney or by such other mutually acceptable escrow agent for a period of not longer than 5 days from and after closing date. If Seller's title is rendered unmarketable
through no fault of Buyer, Buyer shall, within the 5 day period, notify Seller in writing of tile defect and Seller shall have 30 days from date of receipt of such notification to cur,
the defect. If Seller fails to timely cure the defect, all deposit(s) shall. upon written demand by Buyer and within 5 days after demand, be returned to Buyer and simUltaneously wi!;
~UCI1 repayment. Buyer shall return Personalty and vacate Real Property and reconvey it to Seller by special warranty deed. If Buyer fails to make timely demand for refund, Buye
"Ilall take title as is, waiving all rights against Seller as to any intervening defect except as may be available to Buyer by virtue of warranties contained in the deed. If a portio'
" the purchase price is to be derived Irom institutional financing or refinancing, requirements of the lending institution as to place, time of day and procedures for closing, and fo
disbursement of mortgage proceeds shall control over contrary provision in this Contract. Seller shall have the right to require from the lending institution a written commitment th8
it will not withhold disbursement of mortgage proceeds as a result of any title defect attributable to Buyer-mortgagor, The escrow and closing procedure required, by this Standar,
:naybe waived if title agent insures adverse matters pursuant to Section 627,7841, F.S. (1987), as amended,
(). ESCROW: Any escrow agent ("Agent") receiving funds or equivalent is authorized and agrees by acceptance of them to deposit them promptly, hold same in escrow and,5ubjec
to clearance, disburse them in accordance wit/1 terms and conditions of Contract. Failure of clearance of funds silall not excuse Buyer's performance, If in doubt as to Agent's dutie
," liabilities under the provisions of Contract, Agent may,at Agent's option, continue to hold the subject matter of the escrow until the parties mutually agree to its disbursemen'
, until a judgment of a court of competent jurisdiction' shall determine the rights of the parties or Agent may deposit with the clerk of the circuit court having jurisdiction of th'
:i..pute, Upon notifying all parties concerned of such action, all liability on the part of Agent shall fully terminate, except to the extent of accounting for any items previously delivere,
out of escrcw, If a licensed real estate broker, Agent will comply with provisions of Chapter 475, F.5. (1987), as amended, Any suit between Huyer and Seller wilere Agent is mad,
1 :1!lrty because of acting as Agent hereunder, or in any suit wherein Agent inlerp!eads the subject matter of tile escrow, Agent shall recover reasonable attorney's fees and cost,
'::Jr'~d with the fees and costs to be charged and assessed as court costs in favor of the prevailing party. Parties agree tilat Agent shall not be liable to any party or persor
. r mi3delivery to Buyer or Seller of items subject to this escrow, unless such misdelivery is due to willful breach of Contract or gross negligence of Agent.
,'. ATTORNEY FEES; COSTS: In any litigation arising out of this Contraft, the prevailing party shall be entitled to recover reasonable attorney's feeS'and costs.
;, FAILURE OF PERFORMANCE: If Buyer fails to .perform this Contract within the time specified (including payment of all deposit(s)), the deposit(s) paid by Buyer may be retaine,
" Of for the account of Seller as agreed uron liquidated damages, consideration for tile execution of this Contract and in full settlement of any claims; whereupon, Buyer and Selle
.<,.,il be relieved of all obligations under Contract; or Sell8r, at Seller's option, rrmy proceed in equity to enforce Seller's rights under this Contract. If, for, any reason other than failun
;3811er to make Seller's title marketable alter diligent ellort, Sel!er fails, np'.iiccts or refuses to perform t/1is Contract, the Buyer may seek specific performance or elect to receiv'
,'e return of Buyer's deposit(s) without thereby waiving any action for d:lIlJa'i"" I',";ultinq from Seller'srbreilcll.
CONTRACT NOT RECORDA8LE; PERSONS BOUND; NOTICE: Neither this Contract nor any notice of it sl1all be recorded in any public records, This Contract shall bind an'
;re to the benefit of the parties and their successors in interest. Whenever th,) , context permits, singular silall include plural and one gender shall include all. Notice given by 0'
Ihe attorney for any party sl1a!! be as effedive as if 'liven by cr to thilt party,
CONVEYANCE: S.,i'N .shall convey tille [0 Real Properly by stAtutory warranty, trustee's, personal representative's or guardian's deed, as appropriate to tile status of Seller, subjec
y to matters contained in Paragraph VII "nd those otherwise accepted by Buyer, PersonAlty shall, at request of Buyer, be transferred by an absolute bill of sale with warrant,
title, SUbject only to such matters as may be otherwise prOVided lor herein,
OTHER AGREEMENTS: No prior or present agreements or representations shall he hinding upon Buyer or Seller unless included in tilis Contract. No modification or change ir
-; Contract shall be valid or binding upon th,' p.lrti"s '.lI1less in writing <J!1I1executed by the party or parties intended to be bound by it.
WARRANTIES: Seller warrants that there are no f~cts known to Seller matenally affecting the value of the Real Property which are not readily observable by Buyer or whicl
ie not been disclosed t; Buyer.
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