05/15/1991
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AGRIEMENT FOR PURCllASB UD' SALI OF RIAL BSTATE
. AGRD.~ (Agx:....nt or Contr.~t) .~!' PURCHASE AM. SALE OF
~ BSTAIJ.'B (iPropertYl_ by and ~eft....:m! e~'~~s ~
~ ~~ M:!~ ",r ...fIdaf.. _ who.. addre.. is
c/o ~xr. Rich_rcl x.: KacDonald, Vice. P~..l_ft~, !'bAt Citi..na and
Sou~h.rn N.~~cnal Bank of Plori~, ~3501 Cleveland Avenue,
Nort;h Port K~r., ~lorlda 33903, '( Se1,ler ..,
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Seller i8 owne:r of the following' deacribed property:.
(a
Street Addre.8 of' Real pr!~u:ty I _ ~.~ ~~ J ...r
: ~,.wu ~~, fI:.. _ __ _ _
(c) . D..cr+pti~n of Personal prop.rt~~~.( if any):
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(b)
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Seller will ..11 the Propexty to Buyer, and' B~y.r will
pur~ha8. the ,roperty on the following ~.~. ~ 'condit1bns.
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This Afr,ement, onc.,8xecutGCI by all partie" .hall constitute
a C~ntraat, for the' 'purcha8e and _ale of the Paeperty.
I. '~~. _ Sales 'rice i8 ~ ~~~ ~
: IVItIf1' i .- _n_. /~ ~fi4f (~.s. ~urr_y) ($ "'~.
II. EIl;Pe~t Hot!IW Depo.~1;. Simultan_u.aly witti Buyer'.
execution hereof, _~~.r 'ha. made .n earn.lt mone, deposit '(Deposit)
to Seller: of f ~ . ~ ~UMA- . *'
:: . (U. S. Currency). (..~",po) which Depolit
shall be held by the below identified ..crow agent 1n it. Trust
Account in a non-int.re.t-~ing, account. luyer ahall .-ka an
additional ~po.lt of $ 4tlL.. ) within ten (10) dap of the
complete ~x.cution of th1. Aqr_nt briD9ing the total uepo.it to
ten ;percent <110') o;t the purcha.. price, which additional Depolit
shall a1.0 be; held by 8uch ..croW' agent 1n auch 'l'n8t Aecoun't. At
Cloll1ng, the: Dep081t shall be paid to the S.ller and .hall be
applied a. a ~rtion of the fund. required at Cloalng fr~ Buyer to
Seller. The Deposit .ay, at such ..crow a,ent's option, be
deposited in an account with The C1ti.en. and Southern! Hational
Bank of Plorida. Any escrow agent (ltAgeAt.) receivlnv' fund. or
equivalent i. authorized and .fr.e. br acceptance of th_ to
depo.it them: promptly, hold .... in. ..crow and, ....ject to
cle_rance, disburse them in accordance with term. and conditions of
thi~ Contrac~. Failure of cl.aranc~ of funda ahall Dot excuse
Buy~r's perfprmance. If ift doubt .. to Agent'_ duti.. or
li&~ilitie8 ~nd.r the provision. of thi. Contract, A9-nt ..y, at
Agent'. option, continue to hold the 8ubject ..tter of the ..crow
lunt~l the pa~tiQs mutually agr.. to its'disbur.'-ent or until a
jud~.nt of ~ court of competent jurisdiction .hall deteraine the
rights of th~ partiel or Agent, may depo8it .~ with the clerk of
the c1rcl1it CO\lrt having jurisd1ction of the diapute. Upon
not~fying .l~ parties concerned of .~eh action, all liability on
the~part of ~gent .hall -fully t.xmi~te, except to the extent of
acc~untlng for any ~t_. previou.ly *live.red out of ..crow. If a
licen8ed real estate brok.r,.Aqe~t vill caaPlr. with provi.ionl ot
Chapt~r 475 I ;F. S . (.1990), ~. amended, Ally au t between Buyer and
Sel~er where' Agent is made a. party; becau.. ot actinq a8 A,gent ----
'* ~y(,t s~ OC"'$ rr t:ArWts:T MIlMIifyj~$lr ",.,... TIle ~ ~1ft.>.
~ w,i'HtAJ P\I't /JIlts o~ ~#t. ~y "nk ~ d ~
~ ~1.,ur""'bL& I ~ j"""""'y ~ ......., .51tl. ,., I .
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her~unde~, o~ in a~y suit whorein AQ.n interplead. the .ubject
mat~er o~ t~. .scr~1 Agent ahall ~eo r r...onable attorney's
f.e~ and ~o.t~ incu~r.4 with the f... ~. coat. to'be charged and
a08"...d~. c~urt coata in favor o'f t". prevailing party. parti..
agr..e ': th.t Aqent .~all not be liabl. ~o any ,arty or person for
mi.~.liv~ry ~o Bu~r or Seller of i~... subject to thi. .acrow,
unl... .~ch.~.c1elJ.v~ .t. due to willful br.ach of this Cont.ract
or gro.. 1n.91ig.nc~ o~ Agent.. .
I I I . j .~ltod 9 t. pu;gha,~.
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A. : ~~ S'd... aa.l_ of"Sal.. Price i. ~ '
,~&I'R'~: __ ~;~tf"Cy ~,.. ~~ (U.8. Cuzoz.oenc:y)
($ ~"~J1 M ....) ! to be. pai<1 by ca.hier' .:i ~heck or wired federal funda
at ~lo.i~9' ~ubjec~ to,prorationa .ptci!led herein.
B.. Mort.qag. ,;:.can (~Jn) i ' Buyer ahall, at Buyer'S
expense, .make a prqmpt application lor and a good faith effort to
obtain a mor1;gaqe co_ient frO. a third party lender in the .um
of not l.~.,than $ u.at. an ~.initial 1..nu.re.t rate. not to
exceed sercent ( ') per ye,r for al\ aIIOrt1zed te:ra~
not 1... t.~ ~ years witb a &al1oon not sooner than
year. . if B*yer ftil;s to obtain this 1.0ian c:c.-itllent w~thin
daY!I of acceptance pf thi8 Contract, 1=hel1 this Contract 8hall atand
t.~nat.d a~d the Deposit will be returned to Buyer, unle.. within
aucJt period. .uyer "aives this cOl\ti~e*,cy or ..t..,..e parties mutually
agr~. in ~i~ing to e..tend this cOftt~n9ency peW1od.
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, IV. ~.LDg CQ-i'. Se1l_ "il1 pay i.. p~o-r&ta' ahare of
.. 19!L :rea.l. e.~ate taxe.. with no "proi'ationa, 41cUMntaryi ataapa on
the. Deed, ant surtax on the ~, it. .ttorn~' f... .~ coat of
pr.pari~ a~ :recording any relea... .ad corrective in.truaents
and/ or dpc_nts. . Tau. shall, be pro:r6ted .....d. on t~. current
y.~'. tax w~th du. allowance ~de f~~ .axtm__ allowable discount
anel any exJ.si;1ng home.tead and other .x.-ption.. If Closing occurs
at a date wh.1i the' 'curent year" JIlilla08' 1s not fi.eel, a~d current
ye~r'. a.......nt 1. available, tax.s will be prorated ~a.ed upon
such a.......nt and the prior ,.az'. *111ag.. I~ curr.nt year's
a.....ment ~ not available, then taxa. will be prora~.d on the
prio:r year' 8, tax. If there ue cOllpletec1 ~PJ:OV_ft~. OIl the
propert:t: by .;January 1st of y..r of Cloa1ag which Uaprov.-n~. were
not in eJCist~nc. on January 1.t of the Il"ior yeAJ: then taxe. .hall
be pX'Ora~ecl ~aa.d upOn the prlor:,e.r'. ~ll.,. aDd at. all: equitable
a.~......t tP be &gJ:Md upon between the pa~l.., f.il~9 which,
reque.t ; will be ueta to the COunty 'ropezoty ""praia.. for an
in.oxaa1 ...,...ent Ukiftg into coaaideration available ~8ItPt.lon..
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. Buyer _hall pay all other clo.lag coata, tftclud~ bGt not
liaited ,to, any pending or certifi.4 .peelal ........nti .......d
a. of ~h. date of this A91'.....nt or, then.f~e:r:, any IIOR9ag.
expen...o aondomini_ application f.., reoordation of Deed,
Hortgage a~d UCC-l Financing Stat...nt8; int&n91bl. tax on
Kartg4g., dp~\lDlentaX'Y staapa on Rot., awru-r'. 1'1t1e. Inauranc.
Coaaitm~nt ,nel Policy; KortVa9M 'fitle Insurance C~t:MJlt and
Po~icy ~n t~. orig:i~l principal aaount of the Loan; and a Survey,
if; need~d.!: ;'
V . P9c\t..n-ta., Seller ahall furni.h a SPECIAL wAlUWrrr DISD~
BILL OF SALJ witbout warranti.., if applic&bleJ and MO.-~REIGN
AFFlDAVl'1'.. : Seller ahall also furnish to Buyer at t1Jl8 ~f Closing
an affida~lt atte.ting to the abaenc., unle.. otherwi.. provided
for herein" of an)" f1nancin, stat8Mnt., cla~ of 11en or
, potential lienor-.~ to Seller and furth.1' atte.ting :that there
have ~n n~. 1ap~v._nts or repair. to the Property for 90 days ,
iJlUDediar:elY! prec.4J.~9 date of ~lo.in~,. ",
, VI. T.~~J". ,Within twenty~f1v~ (25,) day. of execution of this
Agreemept b1 the la.t of the ~rti,sl Seller ,,~ Jpye;",. 8IP8n."
will p*,"ovi~e .Buy.x: an ALTA fora' of Owner'. Title. Insurance
Commi tment · i ::
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: Said Ti~le Comrtit.Jnent wili be. i~"u.d bJ a. qualified tile
ins~rer t:i .~~d 1n8~r.r agreeing to;. it_ue to Buyer I at ,qy"r' .
ft~,n8.":i upo,," rec~rding of the D..d to. Buyer, an awn.r'. ''1'itle
In8~r~no~ po~icy i~ __ount of t~. Sal.. Priae, in.uring title of
the, Buyet' t~ the IP~pert.y, ..ject' only t.. liena, cdnditiona,
re8triot4.on., liJaJ..tat1ona and ..._nt8 of record, the title
coapany'* '.~..c:all~d ".tandard .;.xcept~on.,. _nd any additional
exceptions .,t.ached ~.ret,o as ~.
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Buyer .~all wlthJ.n five (5) day. t~r.af'_r, ,notify,Seller in
wri~inq at t~. ad4re~. aet to~'h ~n p.O- 1 ~f of any ti~l.
def,et(al, i~ any.: If .aid d.f_ctca) ~nd.~ ~itl. QDm4rketable,
S.l~.r may .~.ct t~ t.~1nate thl. Con~r.ct o~ Seller .a, have one
h~ndr.d twenty (120) day. fr~ ~.c.!pt of na~ic. w1~h1n which to
r..,v. .aiel clefact(a) . If Sell.~ 1. uaaucc...ful in J:'tIIIOViftg _aid
defeetC_) wlth1n .aid tt.8, o~ ,Seller decide, not to re.ov. 8uch
defect(.), Buyer .hall have the opt,1on of either (1) acoept.llig the
title as i t tt~.n i. o~ (~) deunclin9 a. ~tW\d of all Depo.!~. paid
her_under wh~ch .~al1 forthwith. be zeturud ,to l Buyer, and, in
either .v.n~, Buyer and S.ll.~ shall 1Mt z.l.....d, .. to one
.no~her, of: all ~urther obligat1oft8 ~ndar thl. AQrMMnt and
neither ,hal~ have ;any furtber liability -to the other tor any 10..,
coat, ex~enar or draaV8 by rea.~n of such cancellat.ion.
VII. p_t:. o~ dlo~.j.n9'. Cloa1n9 shall occur at .uah location in
the County in which the Property ia lOG.~.d .. Seller shall ..lect
on (or before ~:f 8.11.r and Buyer agne~ 7'..~ ,t.'" , 1".1..
, VIII. l.Ij.:1.u~~ t.~ Clo... The partie. hereby A9r.. that the
actual dama;, to the S.ll.r'fro~ the Buyer'. refu..l or failure to
clo.. thl. itrana.-ct1on 8.8 agt..d are uaknown at thl. tiae.
Accordlnqly,;the p.r~ie. herebyagr.e that if Buyer fail. to close
the. purc~..~~ of th, Property.. agrMCl ~.J:81n, or by 8uch t1ae ..
may: be fQrthe,r aqr~.d upon by the partie., t.he Seller aay reta1n a.
liqUid.at,d d.ages't. Deposit. If the: ~~o.ift9 does not tate place
becau.. Seller fa:i:la or refuse. to tt:atlllfer title:, then : Buyez: may
enforce ~h1.~ Contr~ct by eel reoeiYin9 the return of t~. Deposit
and pur8~ift9i a aui~ for damage., which damage. in no e~ent ahall
exceed the iamoun~ 'of the Depollt; or (b) s.eking Ip8cific
performa~ce ~f th1~ Contract.
IX. W~rranti" an4lg; ~x:t'..,pt:.t~on I~Y ~.UG. Buyer
acknowledges: that ;Seller acqui~ecl tit1. to the Property through
for8clo8ure pr by deed-in-lieu of for.elo.ur., and Sell,r ha. not
had the Prop+rty i~.pect.d by prbf...ioraal in,pectora.. IUDIt ALSO
ACDOWLBDGBS; THAT 'I'D PROPIRan IS BilliG . BOUGIl'f OR All "AS-IS- and
.WITH ALL FAULTS · BAS IS AS or TIll DAft or CXDSIlfG, WIrK NO
WARRAtft'IBS, GU~I'BIS, RBPRISlftA!'IORS OR KUI'l'IlCUCI cawwrrlIS,
EI'J!HBR IXPUSSED, W'IftBN OR tKPLIID AS TO '1'D TI'l'LI, USE OR
CONDITION OJ'1 THE PROPERTY, AND 'ITS IQU%PHBft INCLUDING PA'1'INT OR
LA'IEN'l' DBFEqTS. Buyer hal not relied on lAY .~t or. 0JI1.. ion I
repreaentatipn or ~.~ranty of Sell.~ in dac1d1ft9 to p~cha.. the
PrQperty,. B(JYER lqRBBr WAIVES AtID RlLI~IS SILLlR rROMAIIY ARD ALL
LIABILITY OR; OBLIGATION OF SILLla WITH IISPleT m TIll COMDITIOH OF
THE PROPBRTY;, WHB'l'HBa LATBft OR ,PA'fIII'l', XIICLtJDIMC I 8ft )lOT LIHI'1'ED
'l'O ANY FAILURE OF SJlLLBR TO DIBeLOSI AllY DIPIC~ 1M TD PROPBR'l'Y
WHB'rHBl OR IfPT SILLZ_ HAS COHSnUCTlVE OR AC'IOAL DOWLBDGE or SUCH
DEPICT.. ; ..
Within ~ (.>>..) day. Aft.r aocept..nce of this Contract,
Buyer .hall~h.v. the iIiht to ~onduct a ph,,1cal in8pection, at
Buyer I. .Xp.~.8, by _ Plorida L1c-a.ed. Contl:.,~r, of the' Property.
Buyer shall !imm.d~t_ly provide Sell,er ~lth , copy of the physical
in,paction ~eport.' ~f the phYlical inspectl_ report d...cribes a
co_dit1on which i~ the Plorida LlaeJ\8ed Cont,._tor'. judCJllent is a
m&te~i.~ly 4efect1ve condition,. then Seller ~all have the option
to correct !.uch ~oncli t10n wi tllin thi~y ( ") days., I f Seller
inform_.Buy,r tha~ ~.llfJr will not correct Iuch condition, then
Buyer may t$itlier ~ terminate tb~8 Contract .ad receive back his
Depo8it or ~atity this ContrAct. Under n." circum.tanc.. shall
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conct1i ~ions ."ely r~qulr1n9 routine -+int,nance or normal 8ervicing
be _ 9ro~nd tor tetalnation of this :C~ntr.ct, an4 Buyer .hall be
obl~;at.4 un4er .uc~ circumstance. to :ace'pt the r..pons1bl1ity for
8uCn :condit1~n8. lW1th r..pec::t to ~it~. noted ~n the. phy.ical
in8pe~tiqn r~port :which have r.ached or .xc..d.~ no~l u..ful
lif~, 80 long .. each it.. is in working order .uch item '.hall not
be d.em.~ a ~ateri411y defeotive condition,
In the ~vent 'uyer t.~inate. thil Contract pur8uant to this
Section XX o~ any other provi.ion h.t.of~ 8u~r ahall r..tore the
Property to ~t. or1:qi~.1 cond! t10n prior ~o any 1n.peat1on. Buyer
.ha~l ln4emn4fy, d~f.nd and hold Sell.r ~.~1... traa and aia1nst
any; 11~ili ty , d.t.. , c 1&111., d.ana, coat. and expen... I
including r~a.onabl. attorneys' f..., .~i.in9 out of or in
conn.e~ion wfth Buyer'. or ita agent'. or independent contractor'.
inspection of the Property. Thi. indean1,f1aatlon ahall .~rviY. the
Clo.ing or a~y earlier termination of th1. Contract. .
x. 8e~ Bs1;l:te: Conn~'8t.Ot). Buyer repr...ntl and warrants to
Seller tbat .uyer ~.i.not dealt with o~ con.ulted with any real
..tate b~ok.~, aal_.__n, agent or other flnd-r in connection with
thi* tran.ac~ion'o~h.r than (lilt all brokers). .
(a)
(b)
(0)
(d'
D&C:property Inv..taent, Inc. (WD'C")
(l~Ut. ~t. u.. 4~c.c~ rf SCiIM, 1T 4'~ (S11f1r. t..
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, Seller &qr8e~ to pay a commi..ion to t.he ahov.-li8t.~ brokers
'; ("A~thor!z.d!Broket.") in a tot_l amount a. aet forth in Seller'.
li8~ing and ..nag..ent agr....nt with Die, with the breakdown of
· spe*ific por~ion8 ~f the total -.aunt ~ln; payable to Authorized
Broker. other than D'C a. d.,crib.d in. the below joinder of
Authorized B~ok8r8.: Thi.. Contract is contingent upon the execution
of tile attached :J<;Jlnder by the Authorized Broker.. Buyer hereby
agr... ~o indemnity I defend and hold I.ll.~ hanl... froa and
4gainat any cpat., fees, damag.., aIaa. and 11ab11it1~., :including
without l~ttation, re..onable' attorney.' f... and '.xpen...,
ari.ing out qf any 'claim' or demand or threats of claia .ade by any
bro~8r , ,1.1.~JU.n, :aq_nt or other finder ( except for ~uthoriz.d
BroJcer8) ,;cl..J+minq .: cQ_i...f..on, f.. or ot~r coaapen..t1on ,by reason
of _ r.l~tio~hip o~ dealing with Buyer o~ Buy4tr'l repr...ntatlve.,
"p~or' ee~, olj .gent~, . whether incurred b}!' ..tt.l_ent and ~h.th.r or
not! it+gatlon r..ult.. The r.pr..~tat1o"., coveQan1:s and
1ndeaniflc.t~on. con~ain.d .in th1. parAgrap_ shall surv~v. the
Clo8ing ~r e,rlier:t~~inat1on of thia Contract.
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XI. ..,tgnut.li\y- Buyer My not &881iJ\...._Y inter.at in this
Agr....n~, ~tSel er may 48819. this Agree...'.
XII. ~~~~;a~~~n.: In connection wit~ any 11tigation:1ncluding
appellate proceed1,.gs. .riling out of thl. Agre..nt, the prevailing
par~y ahall ~. ent~t1.d to recover rea.obable attorney's fee. and
coata · . I .'
XIII. i~irat~n Qat:e of 11\4' 9ff.r. Th_ offer ..t forth in
this Agre"'Jlt, un.r the condit.1orui listed h....in, sha.ll'be deemed
revoked and ,hall oe null and ,void unl... it baa been e.eeut:ed by
Buyer and S.~ler, land both the fully~.x.out_d Agr~ent and the
Deposit have; .been :received by SelleJ:, Oft o~ before 5.00 p.m. on
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XIV. ~a.e8. ~Se:ll.r .hal~ deliver po.....ion of the Property
to Buyer at Cloain9, ~ubj.ot to ~y tenaat. in po.....1oll. Seller
and BUY8% ac~nowledg. that the Prope~y ..y be OCcupied by tho..
tenant., if _ny, .pecified in .i~~1: -a. attacMd hereto and made
a part h..reo~, and ~tbat the pro~rty i. being parcha..d 8ubject to
all t.~ .~ c:on~it1on. of th~ 1..'.(11) between Seller and any
such tenant<_>. ~l '~19~t. ,un4er ..id 1_...(.) vill be ...igned to
Bu~r by Se~l.r &~ Clo.1ng. ("and B;r-r.. ahall assUM all of the
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seiler's obl~9Ations under such lea'.(8) at Closing), and Seller
will pay to i Buyer any and all funds depo8;Lted. with Seller by
tenant(8J .s~a security deposit and/or prepaid rent. Tbe partie.
8hallprorat~ rent which has b.en paid to Seller for the month in
which Closin, occurs. Buyer .9~.e. that Buy.~ .hall deliver to
Sel~.r, with~n five (5) days of Buyor'. receipt of .ame, the pro
rat~ portion ,of any rent due through the date of Closing which is
rec~ived by ~uyer 8ub..quent to ~h. Cloa1ng.
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xv. . idon G,.. Qi~clo.ur.. Pursuant to Plorida Statute
Section 404.QS6(8), the following notification auat be provided on
any Contract 'for 8~1. and purch... and any 1...1nq agreement with
respect to a~y buildinq in Plorida which 1s executed on. or after
Ja~uary 1, 1989 MRADON GAS I Radon Ga. i. . naturally occurrinq
rad10active oa. that, when it ha. accUlUlated in a bullding in
sufficient ~.nt!t1e8, may pre.eat health riak. to person who are
exposed to it over time. Level. of Radon that exceed f.deral a.nd
state guidelines have been found in building. in Florida.
Addition_l i~format1on,regardlnq Radon and Radon Testing may be
obtained fro, your County Public Hea~th Unit.-
~VI . 1I0 ~R'9ofd.atl01}. This Agr.....nt shall not be recorded in
the public records. In the event thi. Agr8811le_t 1. recorded in the
public recor4s, any such record_tion by Buy., shall be deemed a
detault under thia Aqreeltent and ,hall entitleJIIller to retain the
Deposit, whereupon th1. Agreement shall be dee_ null and void and
of no further fo~ce an' effect.
XVII. <iO~eXlltflg Lay. This A,re...nt ahall be governed ,in its
enforcement, icon8t~ction and interpretation by the laws of the
:'~ Sta~. of Flox;ida.
XVIII. ,,~ntir. Agr.,,,~nt;. '1'hi. Agre_nt conatJ.tu't.. the entire
agreement of the parties with r..pect to th. P~operty. The s..e
may aot be ~nded or modified orally hut Oft1r by an a9r~...Dt in
writing exec~t.d by both parti.. hereto. Al. und.r.~aft~lng. and
agr....nt. ~tw..n the parti.. with r..pect to the troperty are
merged in thi, Agre~.nt which alone fully and coapletely expresses
their under.~nding.
XIX. fJ.mR. Tille 18 of the ..~.nc. with r..pect to all utters
contained herein, and the parti.. .gr.. to de.l in good faith and
to work diligently toward a tt.ely closing.
xx. ~pewritt.n or BaQd~t~t~n prov!,ioPf. Typewritcen or
ha.ndwritten provi.ion. in..rted herein or at.tached hereto a.
addenda shall control over all printed provi81on8 of this Agre.ent
in conflict tperewith.
XXI. Conpo.~oiumJ'Od Hom'9~';8' AI.9~~.t~on ~~p~1.d~8n~.
Buy~r acknow~edCJe. that theProparty .y b. .. condomniua or
property .ubj~ct to either the condoalniua document. and the rules
and r8gulati~ns of the Condom~nlua ~.oc1.tion or the covenants,
condi tions and restrictions of the HOMeown.X'.' Association, AS
applicable. : If Buyer' shall ~ required to be approved for
ownership, Buyer shall make prompt, application in the n... in which
title shall be taken and comply in good faith with all requi.reaent8
necessary to ~ecure.. membership. If no approval tor ..Ilbe~.hlp has
been obtained within 30 days after Buyer'. application for
member.hip and at. leaat 5 days prior to the clo81ng date, either
the: Buye;-. o~ Seller may cancel this Con~ract and the Buyer's
D~p08it(.) 8~al1 be returned to Buyer.
Witne8sed by:,
BUYER:
DANNY I. K:Ol..ijAGE, Clerk
~ .~~~d ~~~, '-,\~
~-':./5"-91
By,
Dated I
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By' i
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De 'ed J~
SILLIR.
t:Lt J. :P.
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:MacDonald ;
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Dated,: /-;>--/1 ~,/~j ,
,
By.
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I$CROW ActVI' Jp!~II'
. i
The un~r~1~d, ..crow av.nt join. th1. Contrac~ tor the
purpose of ,qon'fi~in.g its agreeaent to the provia1ona' thereof
t rel_ting to ~h8 under.1gned and ,for the PUrpol. of cOftfi~ing its
; . receipt of t~e ini~ial Deposit (.ubj~ct to cl.arance of checks).
\ .
By"
Tit.lel
Date a
, ~~ORIIBQ'~B~'~O~RPB'
: The' un~ersig~ed join thi. cont~~ct tor the purpose of
confirming w~th sel~e~ and Buyer thatj (1) upon clo8ing (And sm.lx if
a c~o.ing occ~r. t unlEt.. Seller ..I'd D_C have otherwie. a;~..d) they
wl1~ be ent1~led to r,ceive a qOnmi8~ion in an amount .~al to the
percenta;e o~ the Sal~ Price ot the property let forth be~ow their
signatures (txcept ., to D'C), and (11) e8Gh Authoriz_d Broker
.ha~l, unl.._ otherwise agreed, ..be paid its fO.rt1on of ~he total
commia.ion b~ the clo~in9 agent ~u~ of the p~..d8 of t~. sale.
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Date:
'. S/1./!1
D'~ PRQPIRTY IWlSTDNTS I tNe.
By. ~ f/(/..
Title: ~lt!~
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Date:
Date',
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By',
Titles
CaD.l.~iQn;p.rc.ntag.. C____')
By.
Titlel
Co..i..~on percentaq. (~')
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: Ad.den.dua to the. Alre.aerlt
t~r Pureha.. -.nd Sale: ot Reai.' Xstat. between
THE CItIZENS AND SOUTHERN NATIONAL BANK OF FLORIDA. and
MONROE · COmifrv, ^. POLITICAL SUBDIVISION OF. Tnl STATE OF PLOR1DA
, ,
In add:i tioD to ~the t~rm~ and pr'ovi~.i.on* aetroroth
.agree,ent. th~ partie. hereby ,..ree to lJodif",
., otherwise ehan..e t.hetollowlng provision.:
. Seetion V. , .Do~uIDe.rlt..
Seller shall ftrrnish Buyer a GENERA.lJ WARRANTY .DEll).
Sectiqn. VI.: Tiitle. ,
Par~alrpah 1'hree~. Li..nei O~ft:
Buyer; shall: wi tjhi.n ..r.J/.:!Ju,n-1.ll.1 days
wri ti.qg at th~ addre.. aet, fO:t~th
defs(:,t (" Ii ) t :1 tallY. '
in the attached
a.end, alter, or
thffl:"ftafter, rlc)ti fy' Sel.le:r i.n
on 'Pare J. h,reot of &,ny tltle
Section rx. Wa,rrant:.les' and/or Repreaentat:ions by Seller. .
Seller has not aC::Quired. ti t,le to the l'rop.rty throu,h for.elo8ur& 01'
b'y d.ed-in1-lie~ of. f<)recloaure. Seller shall provide 8uyer wi th It
clea:r :tit.l.e~.
Section XlVi. L~.se.. ';
Thi. sEtction i.81 not appiicable arld ahall be consi.dered removed trom
the cdntract. ~
Section XXI. Condomih.i.\ina and Homeowners' A..oclat.lon Acknowledgollent.
Thisseetion is not applicable and shall be considered 1!eaovedfrom
..t,lle contract t
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~Additipns tb Co~tract;
A) Seller shal~ provide Buyer with a Secretary'. Certificate ot
Author:'! ty and I,~lcll'mbeno7' stat ing Riohard M. MaoDonald has au.thc)ri ty to
sign and execut, contra~t$ for real est~te owned by Seller.
~B) I,.lENS: ; Seller sh.all ftlJ~n:i.&b to Buyer at t~i.e o~ closing an
"afficlavi t att~etlting to the ab.ence, unle.. oth.:r.wl..e p~ovided fOl'
herein. of any financ'in. state.ents. claims of lien o.r potential
:lienora. known t~ Seller and furthe~ atte.tin, that there h~ve been no
improvements ot repair. to Property tor 90 days i..edi.ateliy preceding
date ()f closing ~ I f Property has been i.proved. or repai!red. wi thin
.that ti.JIle, S.~..le:r ~hall del i ver rel...e. or waiver.. ot~ .echalllc8 J
liens &x.ecu'ted ~y all .lIJe:neral eon.t,ractora, 8ubcontractors t . 8uppliers t
and m~t.ri.l.e' in .dd~tion to Seller'. lien atfid.vit 8ettln, forth
'tIle n~JIlea of I all 8\IC'h leneral c,orltractor8 t subc()n,t,r'actors arld.
materi.a.hlen and: furth~:r .atfirJling t.hat illi charge. tor improveaents or
:r'epairu which could serVe .s & ha.is tor .. .echanic' 8 lien or a claim
for d~age.:hav, beenp~id or will be p~id at clo.in,.
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c.) RISK otr LOSS: It the Propert:y is d...,ed by fire; or other
,casualty b~fol." cl()si..nl and cost of reat.oration .loe. not, e~ceed 3X of
the assessed vatuatiori of the Property 80 d...sed. cost .of ~e.toration
shll.ll be an: obI igation of the S:eller and (;lo.ing shaill p:r"o(~eed
"pursu,8.ht~ to t~e te:r~n\s .()f Contract' wi.th t.e~toration cos't$ ftsc:1rowed at
c 1081 ng. 1 f .t~e cos~ o:t rest,()rat,.ion exoeeds 3S of the &ssesse(j.
v'alllatl()n. o.r th~ imprqvellenta so dama,edt :Suyer shall have: tile o'ption
of elther tak..in, P'roperty a8 is t t:olether wi th elther the 13X or allY
lrl8urance proc_eds pay'able by vi,rtue ot such loa. or (Jam:age, or of
carlcelU.ng Contract a.nd recei vi.ng return of, depo8 it (a) .
"All other t.er18s/an.d. C:Olldj.t.:ions of the .ald. ~g'ree.ent shall remai.n in
full f~rce ~nd ~ffect.
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IN WI1I'NESS. WHtRr.:OF t the parties hay? e"~cut;ed this AddendulI to the
said a_reeaen't. '1
:1
WI'rNESS
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{;52/Monl'oe. C()ll
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SEl,LIR:
AND sotJ'HERN
'_FLOftI DA
BY : .~ ",
l()har(! M. Mac.Donald
b;:~~ ~ ~_~~~$:.~~~__-__
2
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GHIBIT A
Excerpt from Article IV of the Bylaws of
The Cit.izens and Southern National Bank of ."lorida
4.11 Execu~ion of Inst~umIQtl. Any officer of the
Association is empowered to execute in the name of and on behalf
of ~he A.sociatio., notes, deeds, le.ses, contrac.., 4qreements,
aSS~9nments, 9ua~antees of si9nature.J, convoy.nces, trust
indentures or any jother instrument or document that may be deemed
necessary and proper for the conduct of the b\ltliness of. the
Ass-ociation in allY capaoity in which the Assooiation may be
acting, whether for itself or a. executor, .dministrator,
9ua.rdian~ trust.. or in any other fiduciary, aqeney or
representative ca~acityand includin9, without li.itat1on of the
foreqoin91 the execution of documents to:
1. cancel or satisfy contracts, security aqr6Gment.,
mortg11gea, an4 d...els of trust;
2. sur~ender notes, bonda or other evidences, ot
indebtedn...,~ and acc.pt payments thereof:
· 3. 'sel~, assign, transfer and convey stocks, bonds,
real eatat.,: evidence. ot indebtedn... or any inter..t
therein, par~icipations ancS all other .ecuriti.., corpo-
rate or otheJtwiae, including rights and options to acquire
or sell the .ame, and request payment or rai.auanee ot any
and all Unit~d States securities ot any description regis-
tered on the ibooks ot the 'l't-easury Department or registered
securities w~th reap6ct to which the Treasury Depart..nt
acts as trans;fer agent, all .a .ay be now or hereatter held
by the Associ~tion in any capacity; and
4. make or give any declaration, affidavit, certifi-
cation, oath Qr other statement required or r.~1ested by any
other party to any 'business transaction by the Assoeiat~on,
or required, ! permitted or made necessary by any statute"
rule:, requlat!on or o~der.
Any officer of the:Association shall have the power to attest;and
<:\!fix the seal ot the As.celation to any such not.., d..ds,
~ea$es, contracts Ii a<Jr..menta, assignments, convey'nces, trust
~ndenturQ~ or other inst~uments or document..
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