|
Form Simplicity
<br />109
<br />110
<br />111
<br />112"
<br />113
<br />114
<br />115
<br />116
<br />117
<br />118
<br />119«
<br />120
<br />121
<br />122*
<br />123
<br />124
<br />125
<br />126
<br />127
<br />128
<br />129
<br />130
<br />131
<br />132
<br />133
<br />134
<br />135
<br />136
<br />137
<br />138'
<br />139
<br />140
<br />141
<br />142
<br />143
<br />144
<br />145
<br />146
<br />147
<br />148
<br />149
<br />150
<br />151
<br />152
<br />153
<br />154
<br />155
<br />156
<br />157
<br />158
<br />159
<br />2/26/21, 12:06 PM
<br />amount of the purchase price for fee simple title subject only to the exceptions stated above. If Buyer is
<br />paying for the owner's title insurance policy and Seller has an owner's policy, Seller will deliver a copy to
<br />Buyer within 15 days after Effective Date.
<br />(2) El an abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an
<br />existing firm. However, if such an abstract is not available to Seller, then a prior owner's title policy
<br />acceptable to the proposed insurer as a base for reissuance of coverage may be used. The prior policy will
<br />include copies of all policy exceptions and an update in a format acceptable to Buyer from the policy
<br />effective date and certified to Buyer or Buyer's closing agent together with copies of all documents
<br />recited in the prior policy and in the update. If such an abstract or prior policy is not available to Seller,
<br />then (1) above will be the title evidence.
<br />(b) Title Examination: After receipt of the title evidence, Buyer will, within days (10 days if left blank) but
<br />no later than Closing Date, deliver written notice to Seller of title defects. Title will be deemed acceptable to
<br />Buyer if (i) Buyer fails to deliver proper notice of defects or (ii) Buyer delivers proper written notice and Seller
<br />cures the defects within days (30 days if left blank) ("Cure Period") after receipt of the notice. If the
<br />defects are cured within the Cure Period, closing will occur within 10 days after receipt by Buyer of notice of
<br />such cure. Seller may elect not to cure defects if Seller reasonably believes any defect cannot be cured within
<br />the Cure Period. If the defects are not cured within the Cure Period, Buyer will have 10 days after receipt of
<br />notice of Seller's inability to cure the defects to elect whether to terminate this contract or accept title subject
<br />to existing defects and close the transaction without reduction in purchase price.
<br />(c) Survey: Buyer may, at Buyer's expense, have the Property surveyed and must deliver written notice to
<br />Seller, within 5 days after receiving survey but not later than 5 days before Closing Date, of any
<br />encroachments on the Property, encroachments by the Property's improvements on other lands, or deed
<br />restriction or zoning violations. Any such encroachment or violation will be treated in the same manner as a
<br />title defect and Seller's and Buyer's obligations will be determined in accordance with Paragraph 8(b).
<br />(d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress.
<br />9. Property Condition: Seller will deliver the Property to Buyer at closing in its present "as is" condition, with
<br />conditions resulting from Buyer's Inspections and casualty damage, if any, excepted. Seller will not engage in or
<br />permit any activity that would materially alter the Property's condition without the Buyer's prior written consent.
<br />(a) Inspections: (Check (1) or (2))
<br />(1) Y Feasibility Study: Buyer will, at Buyer's expense and within 45 days (30 days if left blank)
<br />("Feasibility Study Period") after Effective Date and in Buyer's sole and absolute discretion, determine
<br />whether the Property is suitable for Buyer's intended use. During the Feasibility Study Period, Buyer may
<br />conduct a Phase 1 environmental assessment and any other tests, analyses, surveys, and investigations
<br />("Inspections") that Buyer deems necessary to determine to Buyer's satisfaction the Property's
<br />engineering, architectural, and environmental properties; zoning and zoning restrictions; subdivision
<br />statutes; soil and grade; availability of access to public roads, water, and other utilities; consistency with
<br />local, state, and regional growth management plans; availability of permits, government approvals, and
<br />licenses; and other inspections that Buyer deems appropriate. If the Properly must be rezoned, Buyer will
<br />obtain the rezoning from the appropriate government agencies. Seller will sign all documents Buyer is
<br />required to file in connection with development or rezoning approvals. Seiler gives Buyer, its agents,
<br />contractors, and assigns, the right to enter the Property at any time during the Feasibility Study Period for
<br />the purpose of conducting Inspections, provided, however, that Buyer, its agents, contractors, and assigns
<br />enter the Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seller
<br />harmless from losses, damages, costs, claims, and expenses of any nature, including attorneys' fees,
<br />expenses, and liability incurred in application for rezoning or related proceedings, and from liability to any
<br />person, arising from the conduct of any and all Inspections or any work authorized by Buyer. Buyer will
<br />not engage in any activity that could result in a construction lien being filed against the Property without
<br />Seller's prior written consent. If this transaction does not close, Buyer will, at Buyer's expense, (i) repair
<br />all damages to the Property resulting from the Inspections and return the Property to the condition it was in
<br />before conducting the Inspections and (ii) release to Seller all reports and other work generated as a
<br />result of the Inspections.
<br />160 Before expiration of the Feasibility Study Period, Buyer must deliver written notice to Seller of Buyer's
<br />161 determination of whether or not the Property is acceptable. Buyer's failure to comply with this notice
<br />162 requirement will constitute acceptance of the Property as suitable for Buyer's intended use in its "as is"
<br />163 condition. If the Property is unacceptable to Buyer and written notice of this fact is timely delivered to
<br />164 Seiler, this contract will be deemed terminated, and Buyer's deposit(s) will be returned.
<br />Buyr _) and Seller () () acknowledge receipt of a copy of this page, which is 3 of 8 pages.
<br />VAC�13 ev 2/20 ©2020 Florida Reaitorse
<br />Serialt 01566"001614359124_ Form
<br />>-
<br />Simplicity
<br />https://forms.floridarealtors.org/api/print/pdf-viewer Page 3 of 8
<br />
|