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<br />7. CLOSING DATE: This transaction shall be closed and the deed <br />and other closing papers delivered on '2. J 7 ~ ' 2005, unless <br />modified by other provisions of this Con~ra t. <br /> <br />8. PLACE OF CLOSING: Closing shall be held in the law offices of <br />STENSTROM, MCINTOSH, COLBERT, WHIGHAM, REISCHMANN & PARTLOW, P.A., <br />200 W. 1" St., Suite 200, SunTrust Bank Building, Sanford, FL <br />32771, who shall provide the title insurance and prepare the <br />closing documents. <br /> <br />9. FEASIBILITY STUDY: Buyer shall obtain, at Buyer's expense, a <br />Phase One Environmental Site Assessment Report as to the Property. <br />If the Environmental Report discloses actual or potential <br />contamination of the Property, the Buyer may terminate this <br />agreement by written notice to Seller prior to the Closing Date. <br />If Buyer timely serves notice of termination, this Contract shall <br />terminate and the parties shall be relieved of all further <br />liability hereunder. <br /> <br />10. OCCUPANCY: Seller warrants that there are no parties in <br />occupancy other than Seller. <br /> <br />11. TYPEWRITTEN OR HANDWRITTEN <br />handwritten provisions, riders and <br />printed provisions of the contract. <br /> <br />PROVISIONS: Typewritten <br />addenda shall control <br /> <br />or <br />all <br /> <br />12. ASSIGNABILITY: Buyer may not assign this Contract. <br /> <br />13. DISCLOSURES: <br /> <br />(a) Radon is a naturally occurring radioactive gas that when <br />accumulated in a building in sufficient quantities may present <br />health risks to persons who are exposed to it over time. Levels of <br />radon that exceed federal and state guidelines have been found in <br />buildings In Florida. Additional information regarding Radon or <br />Radon testing may be obtained from your County Public Health unit. <br /> <br />14. FAILURE OF PERFORMANCE: If Buyer fails to perform this <br />Contract wi thin the time specified, including payment of all <br />deposits, the deposit(s) paid by Buyer and deposit(s) agreed to be <br />paid, may be recovered and retained by and for the account of <br />Seller as agreed upon liquidated damages, consideration for the <br />execution of this Contract and in full settlement of any claims; <br />whereupon, Buyer and Seller shall be relieved of all obligations <br />under this Contract; or Seller, at Sellers option, may proceed in <br />equity to enforce Seller's rights under this Contract. If for any <br />reason other than failure of Seller to make Seller's title <br />marketable after diligent effort, Seller fails, neglects or refuses <br /> <br />Page 3 <br />