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Form Simplicity 7/3/19, 2:38 PM
<br />220 (f) Foreign Investment In Real Property Tax Act ("FIRPTA"): If Seller is a "foreign person" as defined by
<br />221 FIRPTA, Seller and Buyer will comply with FIRPTA, which may require Seller to provide additional cash at
<br />222 closing.
<br />223 (g) 1031 Exchange: If either Seller or Buyer wish to enter into a like -kind exchange (either simultaneously with
<br />224 closing or after) under Section 1031 of the Internal Revenue Code ("Exchange"), the other party will
<br />225 cooperate in all reasonable respects to effectuate the Exchange including executing documents, provided,
<br />226 however, that the cooperating party will incur no liability or cost related to the Exchange and that the closing
<br />227 will not be contingent upon, extended, or delayed by the Exchange.
<br />228 10. Computation of Time: Calendar days will be used when computing time periods, except time periods of 5 days
<br />229 or less. Time periods of 5 days or less will be computed without including Saturday, Sunday, or national legal
<br />230 holidays specified in 5 U.S.C. 6103(a). Any time period ending on a Saturday, Sunday, or national legal holiday
<br />231 will extend until 5:00 p.m. (where the Property is located) of the next business day. Time is of the essence in
<br />232 this contract.
<br />233 11. Risk of Loss; Eminent Domain: If any portion of the Property is materially damaged by casualty before closing
<br />234 or Seller negotiates with a governmental authority to transfer all or part of the Property in lieu of eminent domain
<br />235 proceedings or an eminent domain proceeding is initiated, Seller will promptly inform Buyer. Either parry may
<br />236 terminate this contract by written notice to the other within 10 days after Buyer's receipt of Seller's notification,
<br />237 and Buyer's deposit(s) will be returned, failing which Buyer will close in accordance with this contract and
<br />238 receive all payments made by the governmental authority or insurance company, if any.
<br />239 12. Force Majeure: Seller or Buyer will not be required to perform any obligation under this contract or be liable to
<br />240 each other for damages so long as the performance or non-performance of the obligation is delayed, caused, or
<br />241 prevented by an act of God or force majeure. An "act of God or "force majeure" is defined as hurricanes,
<br />242 earthquakes, floods, fire, unusual transportation delays, wars, insurrections, and any other cause not reasonably
<br />243 within the control of Seller or Buyer and which by the exercise of due diligence the non-performing party is
<br />244 unable in whole or in part to prevent or overcome. All time periods, including Closing Date, will be extended for
<br />245 the period that the act of God or force majeure is in place. However, in the event that such act of God or force
<br />246 majeure event continues beyond 30 days, either party may terminate this contract by delivering written notice to
<br />247 the other; and Buyer's deposit(s) will be returned.
<br />248 13. Notices: All notices will be in writing and delivered to the parties and Broker by mail, personal delivery, or
<br />249 electronic means. Buyer's failure to timely deliver written notice to Seller, when such notice is required by
<br />250 this contract, regarding any contingency will render that contingency null and void, and this contract will
<br />251 be construed as if the contingency did not exist. Any notice, document, or item delivered to or received
<br />252 by an attorney or licensee (including a transactions broker) representing a party will be as effective as if
<br />253 delivered to or received by that party.
<br />254 14. Complete Agreement; Persons Bound: This contract is the entire agreement between Seller and Buyer.
<br />255 Except for brokerage agreements, no prior or present agreements will bind Seller, Buyer, or Broker
<br />256 unless incorporated into this contract. Modifications of this contract will not be binding unless in writing, signed
<br />257 or initialed, and delivered by the party to be bound. Electronic signatures will be acceptable and binding. This
<br />258 contract, signatures, initials, documents referenced in this contract, counterparts, and written modifications
<br />259 communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be
<br />260 binding. Handwritten or typewritten terms inserted in or attached to this contract prevail over preprinted terms. If
<br />261 any provision of this contract is or becomes invalid or unenforceable, all remaining provisions will continue to be
<br />262 fully effective. Seller and Buyer will use diligence and good faith in performing all obligations under this contract.
<br />263 This contract will not be recorded in any public record. The terms "Seller," "Buyer," and "Broker" may be singular
<br />264 or plural. This contract is binding on the heirs, administrators, executors, personal representatives, and assigns, if
<br />265 permitted, of Seller, Buyer, and Broker.
<br />266 15. Default and Dispute Resolution: This contract will be construed under Florida law. This Paragraph will survive
<br />267 closing or termination of this contract.
<br />268 (a) Seller Default: If Seller fails, neglects, or refuses to perform Seller's obligations under this contract, Buyer
<br />269 may elect to receive a return of Buyer's deposit(s) without thereby waiving any action for damages resulting
<br />270 from Seller's breach and may seek to recover such damages or seek specific performance. Seller will also
<br />271 be liable for the full amount of the brokerage fee.
<br />Buyer(_) and Seller (0-) (} acknowledge receipt of a copy of this page, which is 5 of 7 pages.
<br />VAC -11 Ret/6/17 / "��J 02017 Florida Realtorse
<br />Serlal#; 015849-200156-2179010 Fol m
<br />Simplicity
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