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CONTRAST FOR SALE AND PURCHASE FAR /BAR Ftssl
<br />PAR .rms: John H. Gerken TTrrust�ceffee simple, & JaI AmSka Inc. leasehold inhe>est) ('Sever•),
<br />of 209 TIE- 95t�5t • Ste 5 Meal ores FL —M-39 (rnone)
<br />("Buyer"),
<br />ana 1 o s es eac (phone) 305 947 -0606
<br />of 17070 Coffins Ave. Ste 250 surinM Liles Beach, F1,33160
<br />hereby agree that Seller shall sell and Buyer shall buy tl,e following described Real PropeMm dr•�ouiPmperty(witearOy'EE2 )upon the following terms and conditions, which
<br />Include Standards for Real lstate'l'ransactions (- Rand.rd . ') on the reverse side hereof oraitached hereto and riders and addenda to this Contract for Sale and Purchase (•Coor.n').
<br />L DESCRIPTION: Count Florida:
<br />(a) Legal description of the Real Property located in Dade ee --t 3 County, TATUM' S OCEAN
<br />The South 100 _feet of the r a P nun v.
<br />(b) Street address, city, ziQ of the Property Is: i t -e -+ •+ •• - -
<br />(c) Personal Property. All persona ro er no owne an ues s oca e
<br />at the real ro er
<br />II. PURCIiASE PRICE ................................................................................................................................................. ...............................
<br />PAYMENT: in the amount of $
<br />(a) Deposit held in escrow by
<br />(b) Additional escrow deposit to be made within days after Effective Dale (as defined in Paragraph 111) in the amount of........5
<br />(c) Subject to AND assumption of existing mortgage in good standing in favor of $
<br />having an approximate present principal balance of .......................................................................... ...............................
<br />(d) Purchase money mortgage and note to Seller (see addendum) in the amount of ............................................ ........................................ ...........S
<br />(e) Other. -Q
<br />(f) Balance to close by U.S. cash, LOCALLYDRAWNcertifiedorcashier' acheckorthird- pertyloan, subjecuoadjustmenlsorprorations .......$ , r
<br />Ill. TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT' OF
<br />EXECUTION communicated in writing between the parties on or before March 1$ , 1998 , the deposit(s) will, at Buyer's option, be returned
<br />and this offer withdrawn. Ilse date of Contract ('Effective Date) will ll the date when the last one of the Buyer and Seller has signed this offer.
<br />A facsimile copy Of this Contract and any signatures hereon shall be considered for all purposes as originals.
<br />IV. FINANCING:
<br />(a) If the Purchase Price or any part of it is to be financed by a third -party loan, this Contract is conditioned on Buyerobtaining a written commitment withindaysa( terEf fectiveDatefor(CHECKONLYONE):[ lafized;( lanadjustable;orl I a fixed or adjustable rate loan in the principal amount of$ ears.
<br />discount and origination fees not to exceed _% of the principal amount, and for a term of y
<br />at an initial interest rate not to exceed %,
<br />able diligence to Obtain a loan commitment and, thereafter, r' satisfy terms and
<br />Buyer will make application within_ days after Effective Date and use reason
<br />conditions of the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or In
<br />to waive Buyer's tights under this
<br />subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the terms and conditions of the commitment, then either party
<br />thereafter, by written notice to the other, may cancel this Contract and Buyer shall be refunded the deposit(s); or
<br />(b)'I'he existing mortgage described in Paragraph 11(c), above, has (CI IECK ONLY ONE):[ I a variable interest rate; or I ] a fixed interest rate l,al,
<br />annum. At time of title transfer, some fixed interest rates are subject to increase; if increased, the rate shall not exceed P er annum. Seller s
<br />within _days after Effective Date, furnish a statement from each mortgagee staling the principal balance, method of payment, interest rate and status of mortgage.
<br />If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall shall promptly
<br />paid the n cess yr
<br />application and diligently complete and return it to the mortgagee. Any mortgagee charge(s) not to exceed $ P y y e t
<br />is not accepted by mortgagee or the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in excess of the
<br />stated amount, Selleror Buyer may rescind this Contract bywritten notice to the other party unless either elects to pay the increase in interest rate or excess mortgage charges.
<br />V. TITLE EVIDENCE: At least 15 days before closing date, but no earlier than days after Seller receives written notification that Buyer has obtained
<br />the loan commitment or has been approved for the loan assumption as provided in Paragraphs IV(a) or (b), above, or, if applicable, shall 9t h financing requirements,
<br />(CIIECK ONLY ONE):lX I Seller shall, at Seller's expense, deliver to Buyer or Buyer's attorney, or I I Buyer Buyer's obtain
<br />(CHECK ONLY ONE):[X I abstract of title; or I I title insurance commitment (with legible copies of instruments listed as exceptions attached
<br />thereto) and, after closing, an owner's policy of title insurance.
<br />VI. CLOSING DATE: Ihis transaction shall beclosedand the deed and other closing papers delivered on .Tune 3 1998
<br />unless modified by other provisions of this Contract.
<br />VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other
<br />requirements imposed by governmental authority, restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements
<br />of record (easements are to be located contiguous to Real Property lines and not more than to feet in width as to the rear or front lines and 7 1/2 feet in
<br />width as to the side lines, unless otherwise stated herein); taxes for year of closing and subsequent years; assumed mortgages and purchase money mortgages,
<br />if any (if additional items, see addendum); provided, that there exists at closing no violation of the foregoing and none prevent use of the Properly
<br />formote1 purpose(s).
<br />t
<br />Vlll. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but if Property is intended to cy rented a occupied beyond closing, clo the
<br />fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to Standard P. Seller shall deliver occupancy of Property to Buyer at time of closing
<br />unless otherwise stated herein. If occupancy is to be delivered before closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible
<br />and liable for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy unless otherwise stated herein.
<br />IX. TYPEWRITTEN OR IIANDWRITI'EN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of
<br />this Contract in conflict with them.
<br />X. RIDERS: (CIIECK those riders which are applicable AND are attached to this Contract): OMEOWNERS' ASSOCIATION DISCLOSURE
<br />(a) [X] COASTAL CONSTRUCTION CONTROL LINE (d) I j VA /FIIA (g) l ] H
<br />(b) ( ] CONDOMINIUM (e) I J INSULATION (h) [ ] RESIDENTIAL LEAD -BASED HAZARD DISCLOSURE
<br />(c) ( ] FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT (f) IX] 'AS IS' (i) [ I
<br />XI. ASSIGNABILITY: (CIIECK ONLY ONE): Buyer l I may assign and thereby be released from any further liability under this Contract;
<br />I I may assign but not be released from liability under this Contract; or I)q may not assign this Contract.
<br />X11. DISCLOSURES:
<br />(a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to persons w o
<br />are exposed to it over time. levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information
<br />regarding Radon or Radon testing may be obtained from your County Public Ilealth unit.
<br />(b) Buyer may have determined the energy efficiency rating of the residential building, if any is located on the Real Property.
<br />(c) If the Real Property includes pre -1978 residential housing then Paragraph X (h) is mandatory.
<br />XIII. MAXIMUM REPAIR COSTS: Seller shall not be responsible for payments in excess of:
<br />(a) $ UU _ for treatment and repair under Standard D (if blank, then 2% of the Purchase Price).
<br />(b) $ repair and replacement under Standard N (if blank, then 3% of the Purchase Price).
<br />XIV. SPECIAL C ES; ADDENDA: If additional terms are to be provided, attach addendum and CIIECK HERE IXI.
<br />THIS IS INTEND BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSI'OOD,SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING.
<br />IIIS FORM iIAS EN APPROVED BY IIIE FLORIDA ASSOCIATION OF REALTORS AND IIIE FLORIDA BAR.
<br />Approvaldoesn c stituteano inion tanyofthetermsandconditionsinthisContractshouldbeacceptedbythepartiesinaparticulartransaction .Tcrmsandconditions
<br />shout e n Bated based upon t 4ve interests ob'ectives and bar¢atntn¢ Dositions of all interested persons.
<br />CO PYRIG IT 5 aY TI E FLORIDA BAR AM1 �IIE FLORIDA ASS CIA'1'1 OF REALTORS
<br />(
<br />(Date)
<br />(Date) (Seller) uyer)
<br />i
<br />Social Security or'I'az I.D. # Social Sec ity or I'ax
<br />(Buyer) (Date)
<br />Social Security or Tax LU. tM
<br />Deposit under Paragraph Il (a) received; IF OTHER T19N CASI I, THEN SI
<br />BROKER'S FEE:'Ilie brokers named below, including listing and cooperating
<br />Name: No Broker
<br />Listing Broker
<br />FAR /RARJ RP"SFD 12/95
<br />4A?
<br />[or) Ul le'Tr'U ia (Date
<br />Sof $i:cun 'Cy6r a .,tfi9- 61282'31
<br />'TO CLEARANCE. (Escrow Agent)
<br />are the only brokers entitled to compensation in connection with this Contract:
<br />No Broker
<br />Cooperating Brokers, If any 4)[ASF t Geoeoied by Digd•y sy.Ieau. tae. (941) 767 -5555
<br />
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