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<br />TITLE
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<br />8. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal representative or
<br />guardian deed as appropriate to Seller's status.
<br />(a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Setler in
<br />accordance with current title standards adopted by the Florida Bar, subject only to the following title exceptions, none of
<br />which prevent Buyer's intended use of the Property
<br />as munclDal uses .
<br />covenants, easements and restrictions of record; matters of plat; existing zoning and government regulations; oil, gas and
<br />mineral rights of record if there is no right of entry; current taxes; mortgages that Buyer will assume; and encumbrances that
<br />Seller will discharge at or before cJosing. S '1. ." ill " irh Q' ~trrll'f-" II ¡in I" in if l' i frtl. . jJ t.,/iil IIftitle
<br />evidence,....... must be generally accepted in the county where the Property is located (specify in Paragraph 5(c) the
<br />selected type). ~_II__...:n ..-- _p4-:__ ('of]:_ n_l_ C___L. r-_.._",; __.4 -1''':__ r']:- r'\_....._ r-_.._\,
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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 Seller, 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 cJosing agent from the policy effective date and certified to Buyer or Buyer's closing agent,
<br />together with copies of all documents reci1ed 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 />ofti1le 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 close the transaction.
<br />(c) 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 any part of the Property lies seaward of the coastal construction
<br />control line, Seller will provide Buyer with an affidavit or survey as required by law delineating the line's location on the
<br />property, unless Buyer waives this requirement in writing.
<br />
<br />MISCELLANEOUS
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<br />9. EFFECTIVE DATE; TIME: TI.¥ L,I.......~ .... ~<;.I~"" VI lIll~ 0VII~lg.... b lI'... u........ VI' nl.I...!, .1,... JQ~. VI ,I,... fJ"".I'W~ 1'lluQI~ v. ~'1::I"~
<br />
<br />~R,~; '\'~ ',~!~' ;!m,e:s "o~ ~hfr e,,~s~nci~ fO~:'! ~;~vi:i~ns ,~f!~~S ~~n~c~'1 ;"II~'~';:. r~i~~ i:^r1ç-':~~~I~; ia~;r~~:",)~
<br />
<br />any deadline falls on a Saturday. Sunday or national legal holiday, performance 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) ofthe appropriate day.
<br />
<br />10. NOTICES: All notices will be made to the parties and Broker by mail, personal delivery or electronic media. Buyer's failure
<br />to deliver timely written notice to Seller, when such notice is required by this Contract, regarding any contingencies
<br />will render that contingency null and void and the Contract will be construed as if the contingency did not exist. Any
<br />notice, document or item given to or received by an attorney or Broker (including a transaction broker) representing a
<br />party will be as effective as if given to or by that party.
<br />
<br />11. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage
<br />agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract.
<br />Modifications of this Contract will not be binding unless in writing, signed or initialed and delivered by the party to be bound.
<br />This Contract, signatures, initials, documents referenced in this Contract, counterparts and written modifications
<br />communicated electronically or on paper will be acceptable for all purposes, including delivery, and will be binding.
<br />Handwritten or typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this
<br />Contract is or becomes invalid or unenforceable. all remaining provisions will continue to be fully effective. Buyer and Seller
<br />will use diligence and good faith in performing all obligations under this Agreement. This Contract will not be recorded in any
<br />public records.
<br />
<br />12. ASSIGNABiliTY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms
<br />"Buyer". "Seller", and "Broke(' may be singular or plural. This Contract is binding on the heirs, administrators, executors,
<br />personal representatives and assigns (if permitted) of Buyer, Seller and Broker.
<br />
<br />
<br />Buyer
<br />VAc-a R
<br />Softwa e
<br />
<br />( ) and setter;'~ ¿:g ) acknowledge receipt of a copy of this page, which is Page 4 of 7 Pages.
<br />104 <CI 2004 Ronda Association of Realto . All fights reserved. Licensed to Alta Star SOftware.
<br />nd Added Formatting Copyright 2004 Alia Slar Software, Inc. All Rights Reserved. (305) 279-8898
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