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Authentisign ID: B21E2127-E1FD-EEII-AAF2-6045BDD68161
<br />STANDARDS FOR REAL ESTATE TRANSACTIONS ("STANDARDS") CONTINUED
<br />442 caused or prevented by a Force Majeure event. "Force Majeure" means: hurricanes, floods, extreme weather,
<br />443 earthquakes, fires, or other acts of God, unusual transportation delays, wars, insurrections, civil unrest, or acts of
<br />444 terrorism, governmental actions and mandates, government shut downs, epidemics, or pandemics, which, by
<br />445 exercise of reasonable diligent effort, the non-performing party is unable in whole or in part to prevent or overcome.
<br />446 The Force Majeure event will be deemed to have begun on the first day the effect of the Force Majeure prevents
<br />447 performance, non-performance, or the availability of services, insurance or required approvals essential to Closing.
<br />448 All time periods affected by the Force Majeure event, including Closing Date, will be extended a reasonable time
<br />449 up to 7 days after the Force Majeure event no longer prevents performance under this Contract; provided, however,
<br />450 if such Force Majeure event continues to prevent performance under this Contract more than 30 days beyond
<br />451 Closing Date, then either party may terminate this Contract by delivering written notice to the other and the Deposit
<br />452 shall be refunded to Buyer, thereby releasing Buyer and Seller from all further obligations under this Contract.
<br />453 H. CONVEYANCE: Seller shall convey marketable title to the Real Property by statutory warranty, trustee's,
<br />454 personal representative's, or guardian's deed, as appropriate to the status of Seller, subject only to matters
<br />455 described in STANDARD A and those accepted by Buyer. Personal Property shall, at request of Buyer, be
<br />456 transferred by absolute bill of sale with warranty of title, subject only to such matters as may be provided for in this
<br />457 Contract.
<br />458 I. CLOSING LOCATION; DOCUMENTS; AND PROCEDURE:
<br />459 (i) LOCATION: Closing will be conducted by the attorney or other closing agent ("Closing Agent") designated by
<br />460 the party paying for the owner's policy of title insurance and will take place in the county where the Real Property
<br />461 is located at the office of the Closing Agent, or at such other location agreed to by the parties. If there is no title
<br />462 insurance, Seller will designate Closing Agent. Closing may be conducted by mail, overnight courier, or electronic
<br />463 means.
<br />464 (ii) CLOSING DOCUMENTS: Seller shall at or prior to Closing, execute and deliver, as applicable, deed, bill of
<br />465 sale, certificate(s) of title or other documents necessary to transfer title to the Property, construction lien affidavit(s),
<br />466 owner's possession and no lien affidavit(s), and assignment(s) of leases. Seller shall provide Buyer with paid
<br />467 receipts for all work done on the Property pursuant to this Contract. Buyer shall furnish and pay for, as applicable,
<br />468 the survey, flood elevation certification, and documents required by Buyer's lender.
<br />469 (iii) FinCEN GTO REPORTING OBLIGATION. If Closing Agent is required to comply with a U.S. Treasury
<br />470 Department's Financial Crimes Enforcement Network ("FinCEN") Geographic Targeting Order ("GTO"), then Buyer
<br />471 shall provide Closing Agent with essential information and documentation related to Buyer and its Beneficial
<br />472 Owners, including photo identification, and related to the transaction contemplated by this Contract which are
<br />473 required to complete mandatory reporting, including the Currency Transaction Report; and Buyer consents to
<br />474 Closing Agent's collection and report of said information to IRS.
<br />475 (iv) PROCEDURE: The deed shall be recorded upon Collection of all closing funds. If the Title Commitment
<br />476 provides insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the escrow closing
<br />477 procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to Collection of all closing
<br />478 funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to Seller.
<br />479 J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide
<br />480 for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following
<br />481 escrow and closing procedures shall apply: (1) all Closing proceeds shall be held in escrow by the Closing Agent
<br />482 for a period of not more than 10 days after Closing; (2) if Seller's title is rendered unmarketable, through no fault of
<br />483 Buyer, Buyer shall, within the 10 day period, notify Seller in writing of the defect and Seller shall have 30 days from
<br />484 date of receipt of such notification to cure the defect; (3) if Seller fails to timely cure the defect, the Deposit and all
<br />485 Closing funds paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and,
<br />486 simultaneously with such repayment, Buyer shall return the Personal Property, vacate the Real Property and re -
<br />487 convey the Property to Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand
<br />488 for refund of the Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect
<br />489 except as may be available to Buyer by virtue of warranties contained in the deed or bill of sale.
<br />490 K. PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as of
<br />491 the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes
<br />492 (including special benefit tax assessments imposed by a CDD pursuant to Chapter 190, F.S., and assessments
<br />493 imposed by special district(s) pursuant to Chapter 189, F.S.), interest, bonds, association fees, insurance, rents
<br />494 and other expenses of Property. Buyer shall have option of taking over existing policies of insurance, if assumable,
<br />495 in which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required
<br />496 by prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited
<br />497 to Buyer. Escrow deposits held by Seller's mortgagee will be paid to Seller. Taxes shall be prorated based on
<br />498 current year's tax. If Closing occurs on a date when current year's millage is not fixed but current year's assessm t
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<br />Buyer's Initials_/; Page 9 of 13 Seller's Initials
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