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<br />Cl1nUguolls laM which is dlvi,jod or is proposed to be divided for the purpose of disposition ÎI' Ore lots'. þ~rëels.
<br />lIMs. or intorests; or (b) ^ny lend. whether contiguous or not, which is di . seC to be divided into 50 or more
<br />lots, pnrcels. unUs. or Interests which era offored DC,_,!.I! n promotional plan.... Buyer may cancel this Contr~ct
<br />for ..ny roazon Wl131sðover for ~.'R.-~~.Q.U·"'l$ffi@..aãys from the dale.an which Buyer executes this Contract. If Buyer
<br />17) clecl" 1,0 .~~1~%!;f!')bII\*""'Peifoä provided, oil funds or other property paid by Buyer will be refunded without penatty or
<br />174 '. . ". r.
<br />'15 7. RISK OF LOSS; EMINENT DOMAIN: If any portion of the Properly is materially damaged by casualty before closing. or
<br />'75 Seller n~Do'i"'es with <1 gov.~nmenlal.aulhllrily to transfor all or.pa'; of the Property in lieu of eminent domain proceedings, or
<br />111 If an eminent domaIn procoed;ng I" u1Ihated. Sellcr will promplly mforrn Buyer. Elthor parly may cancel this COntract by written
<br />m n~t¡"e to Ihe othor within 10 deys ltOm Buyor'g receipt of Sellar'. notific.tion, failing which Buyer will close In accordance with
<br />m Ihl8 COntracl and roccive all pay,."ents mQdo by the government authority or Insurance COmpany, if any.
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<br />1(;0 a"yor t. '- .....---.1 and Soller /J!::;:==:~;;ß. acknowledge raceip! of a Copy of this pago. which is Page 3 of 7 Pages.
<br />VAC"'~ R{~\f. 0 1 fI{1ridll A:~·¡(_ci;J.tian of Rca<t{~!;(l~ aS~t\lèd. Llt,ent;ud to AiM Star $flflw..rao.
<br />So{('w.re d Forln.t1ioa Copyright 2004 fi. . Slar Software, loc. All Rights IlaS.rvod. (305) 279.8898
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<br />~AY-05-2005 THU 03:48 PM STENSTROM,MCINTOSH,COLBE
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<br />FAX NO. 407 330 2379
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<br />P. 04
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<br />1;¡n
<br />121 or ~ftel) lInder Section '1031 oftl1e Internal Rev.nue Code ("Exchange"), Ihe 0 a e In all reasonable
<br />122 respecls to effeCllIate th0 Exchange incllJdln e~' . provided, however, that the cOoperating party will
<br />12J Incur no liability or c!)J;.lmJ¡¡¡jj¡¡j t6 II '" ~;rèl"1ange and Ihal the closing shall not be conlingent upon, e~tended or deiayed by
<br />12., II J[r-'~-
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<br />PROPERTY CONDITION
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<br />G. LAIID USE: Soli or will deliver Iho Properly 10 Buyer al ti1e lime agreed in its presenl "as is" condition, with condilians
<br />resulling from BUyer's Inspectiol1s and casualty damage, if any, excepted. Selier will maintain the landscaping and grounds in
<br />a comp.,mble condition arid will not .'ng"ge il1 or permit any activity thai would materially aller Iho PrOperty's condition wilhoul
<br />Iho Buycr,ls prior writton conS~II'It
<br />(0) Flood Zone: BlIY~r is advised to verify by sUlvey, with tho lel1der and with appropriale govemmenl agencies which
<br />flood zone the Property is in, wl1ether flood insurance is required at1d what restrictions apply to improving the Property
<br />and robuilding in the event of casually.
<br />(b) Government Regul~tl"n: BUYer is advised Ih~t changes in government regulations and levels of service which affect
<br />Buyor's intond"d use of the Property will not be groul1ds far canceling this Contract if Ihe Feasibility Study Period has
<br />expired Or if Buyor has checked choice (0)(2) below.
<br />(C) Inspoclions: Ie/JOck ('I) Of (2) bø/ow)
<br />þ( (1) Fe~sibilily Study: Buy"r will. at Buyer's expense and within ~(J_ days from Effective Date ("FeaSibility
<br />SIUdy Period"). delormine whetl1er the Property is suitable, in BUyer's soie and absolute discrelion.
<br />for llJ.!1DiC¡"ª.!µseJL.....__.----.......__. use.
<br />During the fe>lOibility Study Period, Buyor may conduct a Phase I onvironmental assessment ond any ather tests,
<br />"nalyses, sUlveys and investigations ("inspections") thalB"yer deems necessary 10 determine to Buyer's sn¡¡sfactian
<br />the Property's engineering, architeclural an<l environmental properties; zoning and zoning reslriclions: subdivision
<br />statlltes; soil and grade; avaj'~bility of access 10 public roads, water, and other utililies; consistency with iocai. .tate and
<br />"'9ioMI growth management plans; availability of permits, government approvals, and licenses; and other Inspections
<br />U'lat Buyer deems ~ppropl'i~to to 'Ietermine the Property's suitability fOr the Buyer's intended use. If Ihe Property must
<br />be rezoned. Buyer wiil O~lain the r.,oning from the appropriate government agencies. Seller will Sign all documents
<br />Buyer is reqlJired to file in con"eolion with dcveiopment or rezoning approvals.
<br />Selier gives Buyer, its agents. Contractors and assigns. Ihe right to enter Ih. Property at any time during the Feasibiiity
<br />StUdy P~riad far the purpose of conducting Inspections: provided. however, that Buyer, its agents, Contractors an<l
<br />assign. enter the Prape¡jy and cO/1(luetlnspections at their awn risk. Buyer wili indemnify and hoid Seller harmless
<br />from lessos, dnmages, costs, clnims and expenses of ~ny nat"re, including attomeys' fees, from e~penses and liability
<br />incurrM in application for re20ning or related proceedings, and from liability to any person. arising from the conduct of
<br />any and Rllln:;poclions or Gny Work authorized by BlIyer. BlIyer will nol engage in any activity thai cOllld result In a
<br />construction li~n heing filed 8goinst the Property wilhoul Seller's prior written consen!. If this transaction does not
<br />close. Buyer will. at Buye,"s e~pel1$e, (1) repair ail damages to the Property resulting from the Inspections and rolurn
<br />the Property to the condition it was In prior to conduct of the Inspections. and (2) release to Seller all reports and alher
<br />work gener"tcd as a result of tile inspections.
<br />Buyer wili deiiver written notice to Selier prior to the e~piratlon of the Feasibility Study Period of Buyer's deterrninalion
<br />ofwheti1er er not Iho Proporty is Occeptabie. Buyer's faillJre to comply with this notice reqlJirement will conslitlJto
<br />acceplal1Cé oflhe Propelty ns suilable for Buyer's intended us. In its "as is' condition. If the Property is unaccoptabJe
<br />10 Buyer and wrihen nolico of Ibis fact is timely delivered 10 Seller, Ibis Contract will be deemed terrninaled as of lha
<br />day afler Ihe Feasibility ShJdy period ends and B"yer's deposit(s) will be relurned after Escrow Agent receive. proper
<br />authorizajion fron, ~ I int~t\':Jsted p.::¡rtics.
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<br />satisfied thol either public sewerage and water are availabie 10 the Properl or approved for the
<br />in.tollation of a well and/or privato sewerage. ,jic eXISting zoning and otl1er pertinent regulations
<br />ßnd restrictlQi1"._.sU!Ì!..;;.ilii.,.oSIJbdM~if"ði"irëed restnctians, COncurrency. groWlh management and environmentai
<br />ft·....,,.,. .'" .
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