Cms R 131 Form – Fill Out and Use This PDF

49to close. Once Buyer provides the Commitment to Seller, the financing contingency is waived and Seller will

50be entitled to retain the deposit(s) if the transaction does not close by the Closing Date unless (i) the Property

51appraises below the purchase price and either the parties cannot agree on a new purchase price or Buyer

52elects not to proceed, or (ii) the property related conditions of the Commitment have not been met (except

53when such conditions are waived by other provisions of this Contract), or (iii) the loan is not funded due to

54financial failure of Buyer's lender, or (iv) another provision of this Contract provides for cancellation.

554. Closing Date; Occupancy: Unless the Closing Date is specifically extended by Seller and Buyer or by any other

56provision in this Contract, the Closing Date will prevail over all other time periods including, but not limited to,

57* financing and inspection periods. Closing of this Contract (the "Closing") will occur on ________________

58("Closing Date") at the time established by the Closing Agent, by which time Seller will (i) have removed all

59personal items and trash from the Property and swept the Property clean and (ii) deliver the deed, occupancy,

60and possession, along with all keys, garage door openers, and access codes to Buyer. If on Closing Date

61 insurance underwriting is suspended, Buyer may postpone Closing for up to 5 days after the insurance

62suspension is lifted. If on Closing Date funding from Buyer's lender(s) is not available due to Truth In Lending Act

63(TILA) notice requirements, Buyer may postpone Closing for up to 5 days if necessary to satisfy TILA notice

64requirements. If this transaction does not close for any reason, Buyer will immediately return all Seller provided

65title evidence, surveys, association documents, and other items, failing which Buyer authorizes Closing Agent to

66* reimburse Seller $______________ ($100 if left blank) from the deposit(s) for the cost of the documents.

675. Closing Procedure; Costs: Closing will take place in the county where the Property is located and may be

68conducted by mail or electronic means. If title insurance insures Buyer for title defects arising between the title

69binder effective date and recording of Buyer's deed, Closing Agent will disburse at Closing the net sale proceeds

70to Seller and brokerage fees to Broker as per Paragraph 19. In addition to other expenses provided in this

71Contract, Seller and Buyer will pay the costs indicated below.

72(a) Seller Costs:

73Taxes and surtaxes on the deed

74Recording fees for documents needed to cure title

75*	Repairs and Permits: Seller will pay up to $______________ or ______% (1.5% if left blank) of the purchase
76*	price for repairs to warranted items ("Repair Limit"); and up to $______________ or ______% (1.5% if left

77blank) of the purchase price for wood-destroying organism treatment and repairs ("WDO Repair Limit"); and

78*	up to $____________ or ______% (1.5% if left blank) of the purchase price for costs associated with closing

79out open permits and obtaining required permits for unpermitted existing improvements ("Permit Limit").

80*	Other: __________________________________________________________________________________

81(b) Buyer Costs:

82Taxes and recording fees on notes and mortgages

83Recording fees on the deed and financing statements

84Loan expenses

85Lender's title policy

86Inspections

87Survey

88Flood insurance, homeowner’s insurance, hazard insurance

89*Other:

90(c) Title Evidence and Insurance: If Seller has an owner's title policy covering the Property, Seller will provide

91a copy to Buyer and title agent within 5 days after Effective Date.

92Check (1) or (2)

93*

(1)

The title evidence will be a Paragraph 10(a)(1) owner's title insurance commitment.

Seller will select

94the title agent and Closing Agent and will pay for the owner's title policy; title search, including tax and lien

95*

search; and all other fees charged by title agent and Closing Agent or

Buyer will select the title agent

96and Closing Agent and pay for the owner's title policy; title search, including tax and lien search; and all

97*

other fees charged by title agent and Closing Agent or

Buyer will select the title agent and Closing

98Agent, and Seller will pay for the owner's title policy; title search, including tax and lien search; and all

99other fees charged by title agent and Closing Agent.

100*

(2)

Seller will provide an abstract as specified in Paragraph 10(a)(2) as title evidence.

Seller

Buyer

101will pay for the owner's title policy and select the title agent and Closing Agent. Seller will pay fees for title

102searches, including tax and lien searches, before Closing, and Buyer will pay fees for title searches,

103including tax and lien searches, after Closing (if any) and all other fees charged by title agent and Closing

104Agent.

105(d) Prorations: The following items will be made current (if applicable) and prorated as of the day before Closing:

106real estate taxes (including special benefit tax assessments imposed by a community development district

Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 2 of 9.

CRSP-13 Rev 3/13

©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461

107("CDD")), interest, bonds, assessments, association fees, insurance, rents, and other current expenses and

108revenues of the Property. If taxes and assessments for the current year cannot be determined, taxes will be

109prorated on the basis of taxes for the preceding year as of the day before Closing and will be computed and

110readjusted, at either party's request, when the current taxes are determined with adjustment for exemptions

111and improvements. If there are completed improvements on the Property by January 1 of the year of the

112Closing, which improvements were not in existence on January 1 of the prior year, taxes will be prorated

113based on the prior year's millage and at an equitable assessment to be agreed upon by the parties before

114Closing, failing which, request will be made to the County Property Appraiser for an informal assessment

115taking into consideration available exemptions. If the County Property Appraiser is unable or unwilling to

116perform an informal assessment before Closing, Seller and Buyer will split the cost of a private appraiser to

117perform an assessment before Closing. Nothing in this Paragraph will act to extend the Closing Date. This

118provision will survive Closing.

119(e) Special Assessment by Public Body: Regarding special assessments imposed by a public body, Seller will

120pay (i) the full amount of liens that are certified, confirmed, and ratified before Closing and (ii) the amount of

121the last estimate of the assessment if an improvement is substantially completed as of Effective Date but has

122not resulted in a lien before Closing; and Buyer will pay all other amounts. If special assessments may be

123*

paid in installments

Seller

Buyer (Buyer if left blank) will pay installments due after Closing. If Seller is

124checked, Seller will pay the assessment in full before or at the time of Closing. Public body does not include a

125Homeowners' Association or Condominium Association. Paragraph 5(e) does not apply to a special benefit

126tax lien imposed by a CDD pursuant to Chapter 190, Florida Statutes, which lien will be treated as an ad

127valorem tax and prorated pursuant to Paragraph 5(d).

128(f) Tax Withholding: Seller and Buyer will comply with the Foreign Investment in Real Property Tax Act, which

129may require Seller to provide additional cash at Closing if Seller is a "foreign person" as defined by federal

130law.

131*	(g) Home Warranty:	Seller	Buyer	N/A	will	pay for	a home warranty plan issued	by
132*	_________________________________at			a cost not	to	exceed	$__________. A home warranty	plan

133provides for repair or replacement of many of a home's mechanical systems and major built-in appliances in

134the event of breakdown due to normal wear and tear during the agreement period.

1356. Inspection Periods: Buyer will complete all inspections referenced in Paragraphs 7(b), 8(a)(2), 8(b), and 8(c) by

136* ____________________ (the earlier of 10 days after Effective Date or 5 days before Closing Date if left blank)

137("Inspection Period").

1387. Real Property Disclosures: Seller represents that Seller does not know of any facts that materially affect the

139value of the Property, including but not limited to violations of governmental laws, rules, and regulations, other

140than those that Buyer can readily observe or that are known by or have been disclosed to Buyer.

141(a) Energy Efficiency: Buyer acknowledges receipt of the energy-efficiency information brochure required by

142Section 553.996, Florida Statutes.

143(b) Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in

144sufficient quantities, may present health risks to persons who are exposed to it over time. Radon levels that

145exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding

146radon and radon testing may be obtained from your county public health unit. Buyer may, within the

147Inspection Period, have an appropriately licensed person test the Property for radon. If the radon level

148exceeds acceptable EPA standards, Seller may choose to reduce the radon level to an acceptable EPA level,

149failing which either party may cancel this Contract.

150(c) Flood Zone: Buyer is advised to verify by survey, with the lender, and with appropriate government agencies

151which flood zone the Property is in, whether flood insurance is required, and what restrictions apply to

152improving the Property and rebuilding in the event of casualty. If the Property is in a Special Flood Hazard

153Area or Coastal High Hazard Area and the buildings are built below the minimum flood elevation, Buyer may

154cancel this Contract by delivering written notice to Seller within 20 days after Effective Date, failing which

155Buyer accepts the existing elevation of the buildings and zone designation of the Property.

156(d) Homeowners' Association: If membership in a homeowners' association is mandatory, an association

157disclosure summary is attached and incorporated into this Contract. BUYER SHOULD NOT SIGN THIS

158CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE DISCLOSURE SUMMARY.

159(e) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT

160PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO

161PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY

162IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN

163HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT

164THE COUNTY PROPERTY APPRAISER'S OFFICE FOR FURTHER INFORMATION.

Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 3 of 9.

CRSP-13 Rev 3/13

©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461

165(f) Mold: Mold is part of the natural environment that, when accumulated in sufficient quantities, may present

166health risks to susceptible persons. For more information, contact the county indoor air quality specialist or

167other appropriate professional.

168(g) Coastal Construction Control Line: If any part of the Property lies seaward of the coastal construction

169control line ("CCCL") as defined in Section 161.053, Florida Statutes, Seller will provide Buyer with an

170affidavit or survey as required by law delineating the line's location on the Property, unless Buyer waives this

171requirement in writing. The Property being purchased may be subject to coastal erosion and to federal, state,

172or local regulations that govern coastal property, including delineation of the CCCL, rigid coastal protection

173structures, beach nourishment, and the protection of marine turtles. Additional information can be obtained

174from the Florida Department of Environmental Protection, including whether there are significant erosion

175conditions associated with the shoreline of the Property being purchased.

176*	Buyer waives the right to receive a CCCL affidavit or survey.

1778. Maintenance, Inspections, and Repair: Seller will keep the Property in the same condition from Effective Date

178until Closing, except for normal wear and tear ("Maintenance Requirement") and repairs required by this Contract.

179Seller will provide access and utilities for Buyer's inspections and appraisals. Buyer will repair all damages to

180the Property resulting from the inspections, return the Property to its pre-inspection condition, and provide Seller

181with paid receipts for all work done on the Property upon its completion. If Seller is unable to complete required

182repairs or treatments or meet the Maintenance Requirement before Closing, Seller will give Buyer a credit at

183Closing for the cost of the repairs and maintenance Seller was obligated to perform. At Closing, Seller will assign

184all assignable repair and treatment contracts to Buyer and provide Buyer with paid receipts for all work done on

185the Property pursuant to the terms of this Contract.

186(a) Warranty, Inspections, and Repair:

187(1) Warranty: Seller warrants that non-leased major appliances; heating, cooling, mechanical, electrical,

188security, sprinkler, septic, and plumbing systems; seawall; dock; and pool equipment, if any, are and will

189be maintained in working condition until Closing; that the structures (including roofs, doors, and windows)

190and pool, if any, are structurally sound and watertight; and that torn or missing screens, missing roof tiles,

191and fogged windows will be repaired or replaced. Limited remaining life of any warranted item will not be

192considered a defect that must be repaired or replaced by Seller. Seller does not warrant and is not

193required to repair cosmetic conditions, unless the cosmetic condition resulted from a defect in a

194warranted item. Seller is not obligated to bring any item into compliance with existing building code

195regulations unless necessary to repair a warranted item. "Working condition" means operating in the

196manner in which the item was designed to operate and "cosmetic conditions" means aesthetic

197imperfections that do not affect the working condition of the item, including pitted marcite; tears, worn

198spots, and discoloration of floor coverings/wallpapers/window treatments; caulking in bathroom; nail

199holes, scratches, dents, scrapes, and chips in ceilings/walls/flooring/tile/fixtures/mirrors; cracked roof tiles;

200curling or worn shingles; and minor cracks in floor tiles/windows/driveways/sidewalks/pool decks/garage

201and patio floors.

202(2) Professional Inspection: Buyer may, at Buyer's expense, have warranted items inspected by a person

203who specializes in and holds a license (if required by law) to conduct home inspections or who holds a

204Florida license to repair and maintain the items inspected ("professional inspector"). Buyer must, within 5

205days after the end of Inspection Period, deliver written notice of any items that are not in the condition

206warranted and a copy of the portion of the inspector's written report dealing with such items to Seller. If

207Buyer fails to timely deliver written notice, Buyer waives Seller's warranty and accepts the items listed in

208Subparagraph (a) above in their "as is" conditions, except that Seller must meet the Maintenance

209Requirement.

210(3) Repair: Seller will obtain repair estimates and is obligated only to make repairs necessary to bring

211warranted items into the condition warranted, up to the Repair Limit. Seller may, within 5 days after

212receipt of Buyer’s notice of items that are not in the condition warranted, have a second inspection made

213by a professional inspector and will report repair estimates to Buyer. If the first and second inspection

214reports differ and the parties cannot resolve the differences, Seller and Buyer together will choose, and

215equally split the cost of, a third inspector, whose written report will be binding on the parties. If the cost to

216repair warranted items equals or is less than the Repair Limit, Seller will have the repairs made in a

217workmanlike manner by an appropriately licensed person. If the cost to repair warranted items exceeds

218the Repair Limit, either party may cancel this Contract unless either party pays the excess or Buyer

219designates which repairs to make at a total cost to Seller not exceeding the Repair Limit and accepts the

220balance of the Property in its "as is" condition.

221(b) Wood-Destroying Organisms: "Wood-destroying organism" means arthropod or plant life, including

222termites, powder-post beetles, oldhouse borers, and wood-decaying fungi, that damages or infests seasoned

Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 4 of 9.

CRSP-13 Rev 3/13

©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461

223wood in a structure, excluding fences. Buyer may, at Buyer's expense, have the Property inspected by a

224Florida-licensed pest control business to determine the existence of past or present wood-destroying

225organism infestation and damage caused by infestation. If the inspector finds evidence of infestation or

226damage, Buyer will deliver a copy of the inspector's written report to Seller within 5 days after the date of the

227inspection. If Seller previously treated the Property for the type of wood-destroying organisms found, Seller

228does not have to treat the Property again if (i) there is no visible live infestation and (ii) Seller transfers to

229Buyer at Closing a current full treatment warranty for the type of wood-destroying organisms found. Seller will

230have 5 days after receipt of the inspector's report to have reported damage estimated by a licensed building

231or general contractor and corrective treatment, if required, estimated by a licensed pest control business.

232Seller will have treatments and repairs made by an appropriately licensed person at Seller's expense up to

233the WDO Repair Limit. If the cost to treat and repair the Property exceeds the WDO Repair Limit, either party

234may pay the excess, failing which either party may cancel this Contract by written notice to the other. If Buyer

235fails to timely deliver the inspector's written report, Buyer accepts the Property "as is" with regard to wood-

236destroying organism infestation and damage, subject to the Maintenance Requirement.

237(c) Permits: Buyer may, at Buyer's expense, inspect and examine records and documents to determine

238whether any open or expired building permits or unpermitted improvements to the Property exist. Buyer will,

239before the end of the Inspection Period, deliver written notice to Seller of the existence of such; and Seller

240will remedy the reported items up to the Permit Limit and have final inspections completed no later than 5

241days before Closing. If final inspections cannot be performed due to delays by the governmental entity,

242Closing will be extended for up to 10 days to complete such final inspections, failing which either party may

243cancel this Contract; and Buyer's deposit(s) will be refunded. At Closing, Seller will provide Buyer with

244written documentation that all reported items have been remedied. If the cost to remedy reported items

245exceeds the Permit Limit, either party may cancel this Contract unless either party pays the excess or Buyer

246accepts the Property in its "as is" condition and Seller credits Buyer at Closing the amount of the Permit

247Limit.

248(d) Walk. -Through Inspection; Reinspection: On the day before Closing or at any other time agreeable to the

249parties, Buyer, and/or Buyer's representative, may walk through the Property solely to verify that Seller has

250made repairs required by this Contract, has met the Maintenance Requirement, and has met contractual

251	obligations. If Buyer, and/or Buyer's representative, fails to conduct this inspection, Seller's repair

252obligations and Maintenance Requirement will be deemed fulfilled.

2539. Risk of Loss: If any portion of the Property is damaged by fire or other casualty before Closing and can be

254restored by Closing or within 45 days after Closing Date to substantially the same condition as it was on Effective

255Date, Seller will, at Seller's expense, restore the Property and deliver written notice to Buyer that Seller has

256completed the restoration; and the parties will close the transaction on the later of Closing Date or 10 days after

257Buyer receives Seller's notice. Seller will not be obligated to replace trees. If restoration cannot be timely

258completed, Buyer may cancel this Contract, and Buyer's deposit(s) will be refunded; or Buyer may accept the

259Property "as is" and Seller will credit the deductible and assign the insurance proceeds, if any, to Buyer at

260Closing in such amounts as are attributable to the Property and not yet expended in restoring the Property to the

261same condition as it was on Effective Date.

Serial#: 044862-900136-4305461

281documents recited in the prior policy and in the update. If a prior policy is not available to Seller then (1)

282above will be the title evidence.

283(b) Title Examination: Buyer will examine the title evidence and deliver written notice to Seller, within 5 days

284after receipt of title evidence but no later than Closing Date, of any defects that make the title unmarketable.

285Seller will have 30 days after receiving Buyer's notice of defects ("Curative Period") to cure the defects at

286Seller's expense. If Seller cures the defects within the Curative Period, Seller will deliver written notice to

287Buyer and the Closing will occur on Closing Date or within 10 days after Buyer receives Seller's notice if

288Closing Date has passed. If Seller is unable to cure the defects within the Curative Period, Seller will deliver

289written notice to Buyer and Buyer will, within 10 days after receiving Seller's notice, either cancel this

290Contract, extend Curative Period for a specified period not to exceed 120 days, or accept title with existing

291defects and close the transaction.

292(c) Survey: Buyer may, at Buyer's expense, have the Property surveyed at least 5 days before Closing Date

293and must deliver written notice to Seller within 5 days after receiving survey or title insurance commitment,

294whichever is received later but no later than Closing, of any encroachments on the Property, encroachments

295by the Property's improvements on other lands, or deed restriction or zoning violations. If Buyer timely

296delivers such notice, any reported encroachment or violation will be treated in the same manner as a title

297defect, and Seller's and Buyer's obligations will be determined in accordance with Subparagraph (b) above.

29811. Effective Date; Time; Force Majeure:

299(a) Effective Date: The "Effective Date" of this Contract is the date on which the last of the parties initials or

300signs and delivers the final offer or counter offer. Time is of the essence for all provisions of this

301Contract.

302(b) Time: All time periods will be computed in business days (a "business day" is every calendar day except

303Saturday, Sunday, and national legal holidays). If any deadline falls on a Saturday, Sunday, or national legal

304holiday, performance will be due the next business day. All time periods will end at 5:00 p.m. local time

305(meaning in the county where the Property is located) of the appropriate day.

306(c) Force Majeure: Seller or Buyer will not be required to perform any obligation under this Contract or be liable

307to each other for damages so long as the performance or non-performance of the obligation is delayed,

308caused, or prevented by an "act of God" or "force majeure." An act of God or force majeure is defined as

309hurricanes, earthquakes, floods, fire, unusual transportation delays, wars, insurrections, and any other cause

310not reasonably within the control of the Seller or Buyer and which by the exercise of due diligence the non-

311performing party is unable in whole or in part to prevent or overcome. All time periods, including Closing Date,

312will be extended (not to exceed 30 days) for the period that the act of God or force majeure is in place. In the

313event that such act of God or force majeure event continues beyond the 30-day period referenced in this

314Subparagraph, either party may cancel this Contract by delivering written notice to the other; and Buyer's

315deposit(s) will be refunded.

31612. Notices: All notices will be in writing and will be delivered to the parties and Broker by mail, personal delivery, or

317electronic media. Except for the notices required by Paragraph 3 of this Contract, Buyer's failure to timely

318deliver written notice to Seller, when such notice is required by this Contract, regarding any contingency

319will render that contingency null and void, and this Contract will be construed as if the contingency did

320not exist. Any notice, document, or item delivered to or received by an attorney or licensee (including a

321transaction broker) representing a party will be as effective as if delivered to or received by that party.

32213. Complete Agreement: This Contract is the entire agreement between Seller and Buyer. Except for brokerage

323agreements, no prior or present agreements will bind Seller, Buyer, or Broker unless incorporated into

324this Contract. Modifications of this Contract will not be binding unless in writing, signed or initialed, and delivered

325by the party to be bound. Electronic signatures will be acceptable and binding. Signatures, initials, documents

326referenced in this Contract, counterparts, and written modifications communicated electronically or on paper will

327be acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted in

328or attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid or

329unenforceable, all remaining provisions will continue to be fully effective. Seller and Buyer will use diligence and

330good faith in performing all obligations under this Contract. This Contract will not be recorded in any public

331records.

33214. Assignability; Persons Bound: Buyer may not assign this Contract without Seller's written consent. The terms

333"Seller," "Buyer," and "Broker" may be singular or plural. This Contract is binding on the heirs, administrators,

334executors, personal representatives, and assigns (if permitted) of Seller, Buyer, and Broker.

Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 6 of 9.

CRSP-13 Rev 3/13

©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461

33515. Default:

336(a) Seller Default: If for any reason other than failure of Seller to make Seller's title marketable after diligent

337effort, Seller fails, refuses, or neglects to perform this Contract, Buyer may choose to receive a return of

338Buyer's deposit(s) without waiving the right to seek damages or to seek specific performance as per

339Paragraph 16. Seller will also be liable to Broker for the full amount of the brokerage fee.

340(b) Buyer Default: If Buyer fails to perform this Contract within the time specified, including timely payment of all

341deposits, Seller may choose to retain and collect all deposits paid and agreed to be paid as liquidated

342damages or to seek specific performance as per Paragraph 16; and Broker will, upon demand, receive 50%

343of all deposits paid and agreed to be paid (to be split equally between Brokers) up to the full amount of the

344brokerage fee.

34516. Dispute Resolution: This Contract will be construed under Florida law. All controversies, claims, and other

346matters in question arising out of or relating to this transaction or this Contract or its breach will be settled as

347follows:

348(a) Disputes concerning entitlement to deposits made and agreed to be made: Seller and Buyer will have

34930 days after the date conflicting demands are made to attempt to resolve the dispute through mediation. If

350that fails, Escrow Agent will submit the dispute, if so required by Florida law, to Escrow Agent's choice of

351arbitration, a Florida court, or the Florida Real Estate Commission ("FREC"). A broker's obligation under

352Chapter 475, Florida Statutes, and the FREC rules to timely notify the FREC of an escrow dispute and timely

353resolve the escrow dispute through mediation, arbitration, interpleader, or an escrow disbursement order

354applies only to brokers and does not apply to title companies, attorneys, or other escrow holders.

355(b) All other disputes: Seller, Buyer, and Broker will have 30 days after the date a dispute arises between them

356to attempt to resolve the matter through mediation, failing which the parties, including Broker, will resolve the

357dispute through neutral binding arbitration in the county where the Property is located. However, no

358arbitration arising out of or relating to this transaction or this Contract or its breach will include Broker, unless

359Broker consents in writing to become a party to the proceeding. A demand for arbitration is prohibited if a civil

360action requesting the same relief would be barred by Florida statute of limitations. The arbitrator may not alter

361the Contract terms or award any remedy not provided for in this Contract. The award will be based on the

362greater weight of the evidence and will state findings of fact and the contractual authority on which it is based.

363If the parties agree to use discovery, it will be in accordance with the Florida Rules of Civil Procedure, and the

364arbitrator will resolve all discovery-related disputes. For purposes of this Paragraph, Broker will be treated as

365a party to this Contract. This clause will survive Closing.

366(c) Mediation and Arbitration; Expenses: "Mediation" is a process in which parties attempt to resolve a dispute

367by submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered

368to impose a settlement on the parties. Mediation will be in accordance with the rules of the American

369Arbitration Association ("AAA") or other mediator agreed on by the parties. The parties will equally divide the

370mediation fee, if any. "Arbitration" is a process in which the parties resolve a dispute by a hearing before a

371neutral person who decides the matter and whose decision is binding on the parties. Arbitration will be in

372accordance with the rules of the AAA or other arbitrator agreed on by the parties. Each party to any arbitration

373will pay its own fees, costs, and expenses, including attorneys' fees, and will equally split the arbitrators' fees

374and administrative fees of arbitration.

37517. Escrow Agent; Closing Agent: Seller and Buyer authorize Escrow Agent and Closing Agent (collectively

376"Agent") to receive, deposit, and hold funds and other items in escrow and, subject to Collection, disburse them

377upon proper authorization and in accordance with Florida law and the terms of this Contract, including disbursing

378brokerage fees. "Collection" or "Collected" mean any checks tendered or received have become actually and

379finally collected and deposited in the account of Agent. The parties agree that Agent will not be liable to any

380person for misdelivery of escrowed items to Seller or Buyer, unless the misdelivery is due to Agent's willful

381breach of this Contract or gross negligence. If Agent interpleads the subject matter of the escrow, Agent will pay

382the filing fees and costs from the deposit and will recover reasonable attorneys' fees and costs to be paid from the

383escrowed funds or equivalent and charged and awarded as court costs in favor of the prevailing party. All claims

384against Agent will be arbitrated, so long as Agent consents to arbitrate.

38518. Professional Advice; Broker Liability: Broker advises Seller and Buyer to verify all facts and representations

386that are important to them and to consult an appropriate professional for legal advice (for example, interpreting

387contracts, determining the effect of laws on the Property and transaction, status of title, foreign investor reporting

388requirements, the effect of property lying partially or totally seaward of the coastal construction control line, etc.)

389and for tax, property condition, environmental, and other specialized advice. Buyer acknowledges that Broker

390does not reside in the Property and that all representations (oral, written, or otherwise) by Broker are based on

391Seller representations or public records. Buyer agrees to rely solely on Seller, professional inspectors, and

Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 7 of 9.

CRSP-13 Rev 3/13

©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461

392governmental agencies for verification of the Property condition, square footage, and facts that materially

393affect Property value. Seller and Buyer respectively will pay all costs and expenses, including reasonable

394attorneys' fees at all levels, incurred by Broker and Broker's officers, directors, agents, and employees in

395connection with or arising from Seller's or Buyer's misstatement or failure to perform contractual obligations.

396Seller and Buyer hold harmless and release Broker and Broker's officers, directors, agents, and employees from

397all liability for loss or damage based on (i) Seller's or Buyer's misstatement or failure to perform contractual

398obligations; (ii) the use or display of listing data by third parties, including but not limited to photographs, images,

399graphics, video recordings, virtual tours, drawings, written descriptions, and remarks related to the Property; (iii)

400Broker's performance, at Seller's and/or Buyer's request, of any task beyond the scope of services regulated by

401Chapter 475, Florida Statutes, as amended, including Broker's referral, recommendation, or retention of any

402vendor; (iv) products or services provided by any vendor; and (v) expenses incurred by any vendor. Seller and

403Buyer each assume full responsibility for selecting and compensating their respective vendors. This Paragraph

404will not relieve Broker of statutory obligations. For purposes of this Paragraph, Broker will be treated as a party to

405this Contract. This Paragraph will survive Closing.

40619. Brokers: The licensee(s) and brokerage(s) named below are collectively referred to as "Broker." Instruction to

407Closing Agent: Seller and Buyer direct Closing Agent to disburse at Closing the full amount of the brokerage

408fees as specified in separate brokerage agreements with the parties and cooperative agreements between the

409brokers, except to the extent Broker has retained such fees from the escrowed funds. In the absence of such

410brokerage agreements, Closing Agent will disburse brokerage fees as indicated below. This Paragraph will not be

411used to modify any MLS or other offer of compensation made by Seller or listing broker to cooperating brokers.

416 20. Addenda: The following additional terms are included in the attached addenda and incorporated into this

417Contract (Check if applicable and attach the addenda):

	A. Additional Clauses	N. Insurance	W. Rentals
	B. Appraisal	O. Interest-Bearing Escrow	X. Rezoning
	C. As Is with Right to Inspect	Account	Y. Sale/Lease of Buyer’s
	D. Assignment	P. Lease Option; Lease	Property
	E. Back-up Contract; Kick-out	Purchase	Z. Seller Financing
	Clause	Q. Licensee - Personal Interest	AA.	Short Sale Approval
	F. Condominium Association	in Property	BB.	VA Financing
	G. Defective Drywall	R. Mold Inspection	CC. 1031 Exchange
	H. FHA Financing	S. Mortgage Assumption	Other ______________________
	I. FIRPTA	T. New Mortgage Rates
	J. Homeowners’ Association	U. Pre-1978 Housing Lead-	Other ______________________
	K. Housing for Older Persons	Based Paint Warning
	L. Inspections	Statement	Other ______________________
	M. Insulation Disclosure (New	V. Property Disclosure
	Homes Only)
418*	21. Additional Terms: ___________________________________________________________________________
419*	___________________________________________________________________________________________
420*	___________________________________________________________________________________________
421*	___________________________________________________________________________________________
422*	___________________________________________________________________________________________
423*	___________________________________________________________________________________________
424*	___________________________________________________________________________________________
425*	___________________________________________________________________________________________
426*	___________________________________________________________________________________________
427*	___________________________________________________________________________________________
428*	___________________________________________________________________________________________
429*	___________________________________________________________________________________________
430*	___________________________________________________________________________________________
	Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 8 of 9.
	CRSP-13 Rev 3/13			©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461

431*	___________________________________________________________________________________________
432*	___________________________________________________________________________________________
433*	___________________________________________________________________________________________
434*	___________________________________________________________________________________________
435*	___________________________________________________________________________________________
436*	___________________________________________________________________________________________
437*	___________________________________________________________________________________________
438*	___________________________________________________________________________________________
439*	___________________________________________________________________________________________
440*	___________________________________________________________________________________________
441*	___________________________________________________________________________________________
442*	___________________________________________________________________________________________

44322. Offer and Acceptance: Buyer offers to purchase the Property on the above terms and conditions. Unless this

444*	Contract is signed by Seller and a copy delivered to Buyer no later than ______	a.m.	p.m. on
445*	____________________, this offer will be revoked and Buyer’s deposit(s) refunded subject to Collection of

446funds.

447*	Buyer received a written real property disclosure statement from Seller before making this offer.

44823. Counter Offer; Rejection:

449*	Seller counters Buyer's offer. (To accept the counter offer, Buyer must sign or initial the counter offered terms

450and deliver a copy of the acceptance to Seller.) Unless otherwise stated, the time for acceptance of any counter

451offer will be 2 days after the date the counter offer is delivered.

452*	Seller rejects Buyer’s offer.

453This is intended to be a legally binding contract. If not fully understood, seek the advice of an attorney before

454signing.

455* Buyer: _________________________________________________________________ Date: __________________

456* Print name:

457* Buyer: _________________________________________________________________ Date:

458* Print name:

459Buyer’s address for purpose of notice:

460*	Address: _______________________________________________________________________________________
461*	Phone: _______________________ Fax: _______________________ Email: _______________________________
462*	Seller: _________________________________________________________________ Date:
463*	Print name:	_________________________
464*	Seller: _________________________________________________________________ Date:
465*	Print name: ______________________________________________________________

466Seller’s address for purpose of notice:

467* Address: ______________________________________________________________________________________

468* Phone: _______________________ Fax: _______________________ Email: _______________________________

Buyer (______) (______) and Seller (______) (______) acknowledge receipt of a copy of this page, which is Page 9 of 9.

CRSP-13 Rev 3/13

©2013 Florida Association of REALTORS®

Serial#: 044862-900136-4305461