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<br />221 or "Coastal Barrier Resources Act" designated area or otherwise protected area identified by the U.S. Fish and
<br />222 Wildlife Service under the Coastal Barrier Resources Act and the lowest floor elevation for the building(s) and/or
<br />223 flood insurance rating purposes is below minimum flood elevation or is ineligible for flood insurance coverage
<br />224 through the National Flood Insurance Program or private flood insurance as defined in 42 U.S.C. §4012a, Buyer
<br />225* may terminate this Contract by delivering written notice to Seller within (if left blank, then 20) days after
<br />226 Effective Date, and Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further
<br />227 obligations under this Contract, failing which Buyer accepts existing elevation of buildings and flood zone
<br />228 designation of Property.
<br />229 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy -Efficiency Rating Information Brochure
<br />230 required by Section 553.996, F.S.
<br />231 (f) LEAD-BASED PAINT: If Property includes pre -1978 residential housing, a lead-based paint disclosure is
<br />232 mandatory.
<br />233 (g) HOMEOWNERS' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS
<br />234 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS'
<br />235 ASSOCIATION/COMMUNITY DISCLOSURE, IF APPLICABLE.
<br />236 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT
<br />237 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO
<br />238 PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY
<br />239 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER
<br />240 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE
<br />241 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION.
<br />242 (i) FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT ("FIRPTA"): Seller shall inform Buyer in writing if
<br />243 Seller is a "foreign person" as defined by the Foreign Investment in Real Property Tax Act ("FIRPTA"). Buyer
<br />244 and Seller shall comply with FIRPTA, which may require Seller to provide additional cash at Closing. If Seller
<br />245 is not a "foreign person", Seller can provide Buyer, at or prior to Closing, a certification of non -foreign status,
<br />246 under penalties of perjury, to inform Buyer and Closing Agent that no withholding is required. See STANDARD
<br />247 V for further information pertaining to FIRPTA. Buyer and Seller are advised to seek legal counsel and tax
<br />248 advice regarding their respective rights, obligations, reporting and withholding requirements pursuant to
<br />249 FIRPTA.
<br />250 (j) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are
<br />251 not readily observable and which have not been disclosed to Buyer. Except as provided for in the preceding
<br />252 sentence, Seller extends and intends no warranty and makes no representation of any type, either express or
<br />253 implied, as to the physical condition or history of the Property. Except as otherwise disclosed in writing Seller
<br />254 has received no written or verbal notice from any governmental entity or agency as to a currently uncorrected
<br />255 building, environmental or safety code violation.
<br />256 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS
<br />257 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the
<br />258 Property, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date ("AS
<br />259 IS Maintenance Requirement"). See Paragraph 9(a) for escrow procedures, if applicable.
<br />260 12. PROPERTY INSPECTION; RIGHT TO CANCEL:
<br />261 * (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 7 (if left blank, then 15)
<br />262 days after Effective Date ("Inspection Period") within which to have such inspections of the Property
<br />263 performed as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's sole
<br />264 discretion, that the Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering
<br />265 written notice of such election to Seller prior to expiration of Inspection Period. If Buyer timely
<br />266 terminates this Contract, the Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall
<br />267 be released of all further obligations under this Contract; however, Buyer shall be responsible for
<br />268 prompt payment for such inspections, for repair of damage to, and restoration of, the Property resulting
<br />269 from such inspections, and shall provide Seller with paid receipts for all work done on the Property (the
<br />270 preceding provision shall survive termination of this Contract). Unless Buyer exercises the right to
<br />271 terminate granted herein, Buyer accepts the physical condition of the Property and any violation of
<br />272 governmental, building, environmental, and safety codes, restrictions, or requirements, but subject to
<br />273 Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for any and all
<br />274 repairs and improvements required by Buyer's lender.
<br />Buyer's Initials os„ Page 5 of 12 Seller's 1/itialsi
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