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<br />181
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<br />TITLE
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<br />182 8. TITLE: Seller will convey marketable title to the Property by 01_1_10' ,A warranty deed or trustee, personal representative or
<br />183 guardian deed as appropriate to Seller's status.
<br />184 (a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller in
<br />185 accordance with current title standards adopted by the Florida Bar, subject only to the following title exceptionS)¡non<¡ of It
<br />186 which prevent Buyer's intended use of the Property ..n. \). <¡.:II.ijc..Q . .~~
<br />187 as munciDal uses includina fire station facilitv '
<br />188 covenants, easements and restrictions of record; matters of plat; existing zoning and government regulations; oil, gas and
<br />189 mineral rights of record if there is no right of entry; current taxes; mortgages that Buyerwill assume; and encumbrances that
<br />190 Seller will discharge at or before closing. 811111 ..:11 .::U:.~, L_ ~L~ 11 Sill! 'J ~J.~:~~ ~r ~,,~ _f lI._ r_IL..;,,~ lJ ~__ ..A title
<br />191 evidence, _ must be generally accepted in the county where the Property is located (specify in Paragraph 5(c) the
<br />192 selected type). i-n-- ill uU i i!'iiA (1) in PShl 98Uh Ç'8unt~ 8 &J !! i!ri~ (fI) iF1l.?uf. '&?IHI tJ.
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<br />(1) A title insurance commitment issued by a Florida-licensed title insurer in the amount of the purchase price and
<br />subject only to title exceptions set forth in this Contract and delivered no later than 2 days before Closing Date.
<br />(2) An existing abstract of title from a reputable and existing abstract firm (if firm is not existing. then abstract must be
<br />certified as correct by an existing firm) purporting to be an accurate synopsis of the instruments affecting title to the
<br />Property recorded in the public records of the county where the Property is located and certified to Effective Date.
<br />However if such an abstract is not available to Seifer, then a prior owner's title policy acceptable to the proposed
<br />insurer as a base for reissuance of coverage. Seller will pay for copies of all policy exceptions and an update in a format
<br />acceptable to Buyer's closing agent from the policy effective date and certified to Buyer or Buyer's closing agent,
<br />together with copies of all documents recited in the prior policy and in the update. If a prior policy is not available to Seller
<br />then (1) above will be the title evidence. Title evidence will be delivered no later than 10 days before Closing Date.
<br />(b) Title Examination: Buyer will examine the title evidence and deliver written notice to Seller, within 5 days from receipt
<br />of title evidence but no later than closing, of any defects that make the title unmarketable. Seller will have 30 days from
<br />receipt of Buyer's notice of defects ("Curative Period") to cure the defects at Seller's expense. If Seller cures the defects
<br />within the Curative Period, Seller will deliver written notice to Buyer and the parties will close the transaction on Closing
<br />Date or within 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the
<br />defects within the Curative Period, Seller will deliver written notice to Buyer and Buyer will, within 10 days from receipt of
<br />Seller's notice, either cancel this Contract or accept title with existing defects and dose the transaction.
<br />(e) Survey: Buyer may, prior to Closing Date and at Buyer's expense, have the Property surveyed and deliver written notice
<br />to Seller, within 5 days from receipt of survey but no later than 5 days prior to closing, of any encroachments on the
<br />Property, encroachments by the Property's improvements on other lands or deed restriction or zoning violations. Any such
<br />encroachment or violation will be treated in the same manner as a title defect and Buyer's and Seller's obligations will be
<br />determined in accordance with subparagraph (b) above. If SA) 198Ft af tl=la rffi gefl:) liaB sea..arel sf !:PIs esasta! BSI.strl::letiefl
<br />88F1tfalliA8, geller\.ill ßra.iele Burer ..it :¡ af! affidavit 61 31::11.,,] 83 f¿.ejtJih...a ~] 16.. ëI.:~..I;"è¿.CI'9 tI,¿ 1;,,¿':3 [ð....¿l;6" v"U,..,.
<br />I3re~8fxt~', !::IRIses Suyer hsi.es tt:ïis reE bliffiF1.8f1t iA ..ritiR~. .
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<br />MISCELLANEOUS ~
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<br />9. EFFECTIVE DATE; TIME: I[I~ !::Ht::l;LlVt:: Udlt:: VI UII::. .....UIILlClL;L I::' lilt:: VCll!=: VII VVIII\,;I\ Llrt::ld::'l UI lilt' µdIUt::::. IIIILli:1I::' ul'{Y~
<br />U,~ I~L."l ~rr~,. Time is of the essence for all provisions of this Contract. All time periods expressed as days will be
<br />computed in business days (a "business day" is every calendar day except Saturday, Sunday and nationallegai holidays). If
<br />any deadline falls on a Saturday, Sunday or national legal holiday, pertormance will be due the next business day. All time
<br />periods will end at 5:00 p.m. local time (meaning in the county where the Property is located) of the appropriate day.
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<br />223 10. NOTICES: All notices will be made to the parties and Broker by mail, personal delivery or electronic media. Buyer's failure
<br />224 to deliver timely written notice to Seller, when such notice is required by this Contract, regarding any contingencies
<br />225 will render that contingency null and void and the Contract will be construed as if the contingency did not exist. Any
<br />226 notice, document or item given to or received by an attorney or Broker (including a transaction broker) representing a
<br />227 party will be as effective as if given to or by that party.
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<br />228 11. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage
<br />229 agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract.
<br />230 Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound.
<br />231 This Contract, signatures, initials, documents referenced in this Contract, counterparts and written modffications
<br />232 communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be binding.
<br />233 Handwritten or typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this
<br />234 Contract is or becomes invalid or unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller
<br />23S will use diligence and good faith in performing ail obligations under this Agreement. This Contract will not be recorded in any
<br />236 public records.
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<br />237 12. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms
<br />238 "Buyer", "Seller", and "Broker" may be singular or plural. This Contract is binding on thE~ heirs, adminÎstrators~ e tors,
<br />239 personal representatives and assigns (if permitied) of Buyer, Seller and Broker.
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<br />240 Buyer (~( ) and Seller (£J ( ) acknowledge receipt of a copy of this page. which Is Page 4 of 7 Pages
<br />VAC-8 Rev. 4 © 04 Florida Association of Realtors®. All fights reseIVed. Licensed to AlIa Star Software.
<br />Software ded Formatting Copyright 2004 Alta Star Software, Inc. All Rights Reserved. (305) 279-8898
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