Writable Contract For Residential Sale Form – Fill Out and Use This PDF

38	financing specified in Paragraph 2(c) at the prevailing interest rate and loan costs based on Buyer's
39*	creditworthiness (the "Financing") within ______ days (5 days if left blank) from after Effective Date (5 days if left

blank) and provide Seller with either a written Financing commitment or approval letter (“Commitment”) or written notice

that	Buyer	is
41*	unable to obtain a Commitment within ______ days (the earlier of 30 days after Effective Date or 5 days before

42Closing Date if left blank) from after Effective Date (the earlier of 30 days after Effective Date or 5 days prior to

Closing Date if left blank) (“Commitment Period”). Buyer will keep Seller and Broker fully

43	informed about loan application status, progress, and Commitment issues and authorizes the mortgage broker
44	and lender to disclose all such information to Seller and Broker. If, after using diligence and good faith, Buyer
45	is unable to provide obtain a Commitment within the Commitment Period, and provides Seller with written notice
before	expiration	of	the	Commitment

46Period that Buyer is unable to obtain a Commitment, either party may thereafter cancel this Contract; and

47Buyer's deposit(s) will be refunded. Buyer's failure to timely provide Seller with written notice that Buyer is

48unable to obtain a Commitment within the Commitment Period will result in forfeiture of Buyer's deposit(s) if

Buyer

fails

to

close.

Once

Buyer

49provides the Commitment to Seller, the financing contingency is waived and Seller will be entitled to retain the

50deposit(s) if the transaction does not close by the Closing Date unless (1i) the Property appraises below the

51purchase price and either the parties cannot agree on a new purchase price or Buyer elects not to proceed, or

52(2ii) the property related conditions of the Commitment have not been met (except when such conditions are

53waived by other provisions of this Contract), or (3iii) the loan is not funded due to financial failure of Buyer’s

54lender, or (iv) another provision of this Contract provides for cancellation.

CLOSING

554. CLOSING DATE; OCCUPANCY: Unless the Closing Date is specifically extended by the Buyer Seller and

Buyer	or	by	any
56 other provision	in this Contract, the Closing Date	shawill prevail over all other time periods	including, but not

57limited to, inspection and financing and inspection periods. Closing of Tthis Contract (the “Closing”) will occur be

closedon

__________________, ______ ("Closing Date") at the time established by the cClosing aAgent, by which time Seller

59(ai) have removed all personal items and trash from the Property and swept the Property clean and (bii) deliver the

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

61Closing Date insurance underwriting is suspended, Buyer may postpone cClosing 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 title

65evidence, 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

68be conducted 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, cClosing aAgent will disburse at cClosing the net sale proceeds to Seller and brokerage fees to Broker as per Paragraph 19. In addition to other expenses provided in this Contract,

71Seller 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 up to

78* $ _______________ 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 a

91copy 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 the

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

95* examination and related charges all other fees charged by title agent and Closing Agent or Buyer will select

the

title

agent

and

Closing

96Agent and pay for the owner’s title policy,; title search, including tax and lien search; examination and related

charges	all	other	fees	charged
97*	by title agent and Closing Agent or	Buyer will select the title agent and Closing Agent, and Seller will pay for

98the owner's title policy,; title search, including tax and lien search; examination and related charges all other fees

charged

by

title

agent

and

99Closing 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 prior to closing, including tax and lien searches, before Closing, and Buyer will pay fees for title searches, including tax and lien searches, after cClosing (if any), title examination fees and all other fees charged by title agent and Closing Agent.

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

105real estate taxes (including special benefit tax assessments imposed by a community development district

106(“CDD”)), interest, bonds, assessments, association fees, insurance, rents, and other current expenses and

107revenues of the Property. If taxes and assessments for the current year cannot be determined, taxes will be

108	prorated on the basis of taxes for the preceding year as of the day before Closing Date and will be computed and
109	readjusted, at either party’s request, when the current taxes are determined with adjustment for exemptions and
110	improvements. If there are completed improvements on the Property by January 1 of the year of the Closing Date,
111	which improvements were not in existence on January 1 of the prior year, taxes will be prorated based on the
112	prior year’s millage and at an equitable assessment to be agreed upon by the parties prior to before Closing Date,
failing
113	which, request will be made to the County Property Appraiser for an informal assessment taking into
114	consideration available exemptions. If the County Property Appraiser is unable or unwilling to perform an informal
115	assessment prior to before Closing Date, Buyer and Seller and Buyer will split the cost of a private appraiser to
perform	an	assessment	prior	to

116before Closing Date. Nothing in this pParagraph will act to extend the Closing Date. This provision shawill survive

Closing.

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

118pay (i) the full amount of liens that are certified, confirmed, and ratified before cClosing and (ii) the amount of the

119last estimate of the assessment if an improvement is substantially completed as of Effective Date but has not

120resulted in a lien before cClosing,; and Buyer will pay all other amounts. If special assessments may be paid in

121* installments BuyerSeller SellerBuyer (Buyer if left blank) shawill pay installments due after cClosing. If

Seller

is

checked,

122		Seller will pay the assessment in full prior to before or at the time of cClosing. Public body does not include a
123		Homeowners’ Association or Condominium Association. Paragraph 5(e) does not apply to a special benefit tax
124		lien imposed by a CDD pursuant to Chapter 190, Florida Statutes, which lien will be treated as an ad valorem tax
125		and prorated pursuant to Paragraph 5(d).
126		(f) Tax Withholding: Seller and Buyer will comply with the Foreign Investment in Real Property Tax Act, which
127		may require Seller to provide additional cash at cClosing if Seller is a “foreign person” as defined by federal law.
128*		(g) Home Warranty:	Seller	Buyer	N/A will pay for a home warranty plan issued by
129*		______________________________________________________ at a cost not to exceed $ _______________.
130		A home warranty plan provides for repair or replacement of many of a home’s mechanical systems and major
131		built-in appliances in the event of breakdown due to normal wear and tear during the agreement period.
				PROPERTY CONDITION
132	6.	INSPECTION PERIODS: Buyer will complete the all inspections referenced in Paragraphs 7(b), and 8(a)(2),

8(b), and 8(c) by ________________________ (the earlier of 10 days after the Effective Date or 5 days prior to before

Closing Date if left blank) (“Inspection Period”);. and the walk-through inspection on the day before Closing Date or any other time agreeable to the parties; and the survey referenced in Paragraph 10(c) by ________________________ (at

least 5 days prior to closing if left blank).

1357. REAL PROPERTY DISCLOSURES: Seller represents that Seller does not know of any facts that materially

136affect the value of the Property, including but not limited to violations of governmental laws, rules, and regulations,

137other than those that Buyer can readily observe or that are known by or have been disclosed to Buyer.

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

139Section 553.996, Florida Statutes.

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

141sufficient quantities, may present health risks to persons who are exposed to it over time. Radon levels that

142exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding

143radon and radon testing may be obtained from your county public health unit. Buyer may, within the Inspection

144Period, have an appropriately licensed person test the Property for radon. If the radon level exceeds acceptable

145EPA standards, Seller may choose to reduce the radon level to an acceptable EPA level, failing which either

146party may cancel this Contract.

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

148which flood zone the Property is in, whether flood insurance is required, and what restrictions apply to improving

149the Property and rebuilding in the event of casualty. If the Property is in a Special Flood Hazard Area or Coastal

150High Hazard Area and the buildings are built below the minimum flood elevation, Buyer may cancel this Contract

151by delivering written notice to Seller within 20 days from after Effective Date, failing which Buyer accepts the

existing elevation of the buildings and zone designation of the Property.

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

154disclosure summary is attached and incorporated into this Contract. BUYER SHOULD NOT SIGN THIS

155CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE DISCLOSURE SUMMARY.

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

157PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT BUYER MAY BE OBLIGATED TO PAY

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

159IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER

160PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY

161PROPERTY APPRAISER’S OFFICE FOR FURTHER INFORMATION.

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

163health risks to susceptible persons. For more information, contact the county indoor air quality specialist or other

164appropriate professional.

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

166control line as defined in Section 161.053, of the Florida Statutes, Seller shawill provide Buyer with an affidavit or

survey

as

167required by law delineating the line’s location on the Property, unless Buyer waives this requirement in writing.

168The Property being purchased may be subject to coastal erosion and to federal, state, or local regulations that

169govern coastal property, including delineation of the coastal construction control line, rigid coastal protection

170structures, beach nourishment, and the protection of marine turtles. Additional information can be obtained from

171the Florida Department of Environmental Protection, including whether there are significant erosion conditions

172associated with the shoreline of the Property being purchased.

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

1748. MAINTENANCE, INSPECTIONS, AND REPAIR: Seller will keep the Property in the same condition from

175Effective Date until cClosing, except for normal wear and tear (“Maintenance Requirement”) and repairs required by

176this Contract. Seller will provide access and utilities for Buyer’s inspections and appraisals. Buyer will repair all

177damages to the Property resulting from the inspections, return the Property to its pre-inspection condition, and

178provide Seller with paid receipts for all work done on the Property upon its completion. If Seller is unable to complete

179required repairs or treatments or meet the Maintenance Requirement prior to before cClosing, Seller will give Buyer a

credit

at

180cClosing for the cost of the repairs and maintenance Seller was obligated to perform. At cClosing, Seller will assign

all

181assignable repair and treatment contracts to Buyer and provide Buyer with paid receipts for all work done on the

182Property pursuant to the terms of this Contract. At closing, Seller will provide Buyer with any written documentation that all open permits have been closed out and that Seller has obtained required permits for improvements to the Property.

183(a) Warranty, Inspections, and Repair:

184(1) Warranty: Seller warrants that non-leased major appliances; and heating, cooling, mechanical, electrical,

185security, sprinkler, septic, and plumbing systems; seawall; dock; and pool equipment, if any, are and will be

186maintained in working condition until cClosing; that the structures (including roofs, doors, and windows) and

187pool, if any, are structurally sound and watertight; and that torn or missing screens, and missing roof tiles, and

188fogged windows will be repaired or replaced. Limited remaining life of any warranted item will not be

189considered a defect that must be repaired or replaced by Seller. Seller warrants that all open permits will be closed out and that Seller will obtain any required permits for improvements to the Property prior to Closing Date. Seller

does

not

warrant

and

is

not

required

190to repair cosmetic conditions, unless the cosmetic condition resulted from a defect in a warranted item. Seller

191is not obligated to bring any item into compliance with existing building code regulations unless necessary to

192	repair a warranted item. “Working condition” means operating in the manner in which the item was designed
193	to operate and “cosmetic conditions” means aesthetic imperfections that do not affect the working condition of
194	the item, including pitted marcite; tears, worn spots, and discoloration of floor coverings/wallpapers/window
195	treatments; caulking in bathroom; nail holes, scratches, dents, scrapes, and chips and caulking in bathroom
ceilings/walls/flooring/tile/
196	fixtures/mirrors; cracked roof tiles; curling or worn shingles; and minor cracks in floor tiles/windows/driveways/
197	sidewalks/pool decks/garage and patio floors.
198	(2) Professional Inspection: Buyer may, at Buyer’s expense, have warranted items inspected by a person
199	who specializes in and holds a license (if required by law) to conduct home inspections or who holds a Florida
200	license to repair and maintain the items inspected (“professional inspector”). Buyer must, within 5 days from
after
201	the end of Inspection Period, deliver written notice of any items that are not in the condition warranted and a
202	copy of the portion of the inspector’s written report dealing with such items to Seller. If Buyer fails to timely
203	deliver written notice, Buyer waives Seller’s warranty and accepts the items listed in sSubparagraph (a)
above	in their “as is” conditions, except that Seller must meet the mMaintenance rRequirement.
204
205	(3) Repair: Seller will obtain repair estimates and is obligated only to make repairs necessary to bring
206	warranted items into the condition warranted, up to the Repair Limit. Seller may, within 5 days from after
receipt	of Buyer’s notice of items that are not in the condition warranted, have a second inspection made by a
207
208	professional inspector and will report repair estimates to Buyer. If the first and second inspection reports
209	differ and the parties cannot resolve the differences, Buyer and Seller and Buyer together will choose, and
equally	split
210	the cost of, a third inspector, whose written report will be binding on the parties. If the cost to repair warranted
211	items equals or is less than the Repair Limit, Seller will have the repairs made in a workmanlike manner by
212	an appropriately licensed person. If the cost to repair warranted items exceeds the Repair Limit, either party
213	may cancel this Contract unless either party pays the excess or Buyer designates which repairs to make at a
214	total cost to Seller not exceeding the Repair Limit and accepts the balance of the Property in its “as is”
215	condition.

212(4) Permits: Seller will close out any open permits and remedy any violation of any governmental entity,

213including but not limited to, obtaining any required permits for improvements to the Property, up to the Permit

214Limit, and with final inspections completed no later than five days prior to Closing Date. If final inspections

215cannot be performed due to delays by the governmental entity, Closing Date will be extended for up to ten

216days to complete such final inspections, failing which, either party may cancel this Contract and Buyer’s

217deposit will be refunded. If the cost to close out open permits or to remedy any violation of any governmental

220entity exceeds the Permit Limit, either party may cancel the Contract unless either party pays the excess or

221Buyer accepts the Property in its “as is” condition and Seller credits Buyer at closing the amount of the Permit

222Limit.

216(b) Wood-Destroying Organisms: “Wood-destroying organism” means arthropod or plant life, including

217termites, powder-post beetles, oldhouse borers, and wood-decaying fungi, that damages or infests seasoned

218wood in a structure, excluding fences. Buyer may, at Buyer’s expense, have the Property inspected by a Florida-

219licensed pest control business to determine the existence of past or present wood-destroying organism infestation

220and damage caused by infestation. If the inspector finds evidence of infestation or damage, Buyer will deliver a

221copy of the inspector’s written report to Seller within 5 days from after the date of the inspection. If Seller

previously

222	treated the Property for the type of wood-destroying organisms found, Seller does not have to treat the Property
223	again if (i) there is no visible live infestation, and (ii) Seller transfers to Buyer at cClosing a current full treatment
224	warranty for the type of wood-destroying organisms found. Otherwise Seller will have 5 days from after receipt of
the	inspector’s

225report to have reported damage estimated by a licensed building or general contractor and corrective treatment, if

226required, estimated by a licensed pest control business. Seller will have treatments and repairs made by an

227appropriately licensed person at Seller’s expense up to the WDO Repair Limit. If the cost to treat and repair the

228Property exceeds the WDO Repair Limit, either party may pay the excess, failing which either party may cancel

229this Contract by written notice to the other. If Buyer fails to timely deliver the inspector’s written report, Buyer

230accepts the Property “as is” with regard to wood-destroying organism infestation and damage, subject to the

231mMaintenance rRequirement.

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

233whether any open or expired building permits or unpermitted improvements to the Property exist. Buyer

234will, before the end of the Inspection Period, deliver written notice to Seller of the existence of such; and Seller

235will remedy the reported items up to the Permit Limit and have final inspections completed no later than 5 days

236before Closing. If final inspections cannot be performed due to delays by the governmental entity, Closing will be

237extended for up to 10 days to complete such final inspections, failing which either party may cancel this Contract;

238and Buyer’s deposit(s) will be refunded. At Closing, Seller will provide Buyer with written documentation that all

239reported items have been remedied. If the cost to remedy reported items exceeds the Permit Limit, either party

240may cancel this Contract unless either party pays the excess or Buyer accepts the Property in its “as is” condition

241and Seller credits Buyer at Closing the amount of the Permit Limit.

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

243parties, Buyer, and/or Buyer’s representative, may walk through the Property solely to verify that Seller has

244made repairs required by this Contract, has met the Maintenance Requirement, and has met contractual

245obligations. If Buyer, and/or Buyer’s representative, fails to conduct this inspection, Seller’s repair obligations

246and Maintenance Requirement will be deemed fulfilled.

2479. RISK OF LOSS: If any portion of the Property is damaged by fire or other casualty before cClosing and can be

248restored by the Closing Date or within 45 days after the Closing Date to substantially the same condition as it was on

249Effective Date, Seller will, at Seller’s expense, restore the Property and deliver written notice to Buyer that Seller

250has completed the restoration,; and the parties will close the transaction on the later of: (1) Closing Date; or, (2) 10

days

after

251Buyer’s receiptves of Seller’s notice. Seller will not be obligated to replace trees. If the restoration cannot be timely

completed

in

time,

252Buyer may cancel this Contract, and Buyer’s deposit(s) shawill be refunded,; or Buyer may accept the Property “as

is”,

253and Seller will credit the deductible and assign the insurance proceeds, if any, to Buyer at cClosing in such amounts

254as are (i) attributable to the Property and (ii) not yet expended in restoring the Property to the same condition as it was on Effective Date.

	TITLE
256	10. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal
257	representative, or guardian deed as appropriate to Seller’s status.
258	(a) Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller
259	in accordance with current title standards adopted by the Florida Bar, subject only to the following title exceptions,
260	none of which prevent residential use of the Property: covenants, easements, and restrictions of record; matters
261	of plat; existing zoning and government regulations; oil, gas, and mineral rights of record if there is no right of
262	entry; current taxes; mortgages that Buyer will assume; and encumbrances that Seller will discharge at or before
or	at

263	cClosing. Seller The party paying for the owner’s title policy will, at least 25 days prior to before Closing, deliver to
Buyer	Seller’s	choice	of	one	of

264	following types of title evidence (see Paragraph 5(c)), which must be generally accepted in the county where the
265	Property is located (specify in Paragraph 5(c) the selected type). Seller will use option (1) in Palm Beach County
and option (2) in Miami-Dade County.
266	(1) A title insurance commitment issued by a Florida-licensed title insurer in the amount of the purchase
267	price and subject only to title exceptions set forth in this Contract.
268	(2) An existing abstract of title from a reputable and existing abstract firm (if firm is not existing, then
269	abstract must be certified as correct by an existing firm) purporting to be an accurate synopsis of the
270	instruments affecting title to the Property recorded in the public records of the county where the Property is
271	located and certified to Effective Date. However if such an abstract is not available to Seller, then a prior
272	owner’s title policy acceptable to the proposed insurer as a base for reissuance of coverage. Seller will pay
273	for copies of all policy exceptions and an update in a format acceptable to Buyer’s cClosing aAgent from the
policy	effective date and certified to Buyer or Buyer’s cClosing aAgent, together with copies of all documents
274
recited	in	the
275	prior policy and in the update. If a prior policy is not available to Seller then (1) above will be the title
276	evidence. Title evidence will be delivered no later than 10 days before Closing Date.
277	(b) Title Examination: Buyer will examine the title evidence and deliver written notice to Seller, within 5 days
278	from after receipt of title evidence but no later than Closing Date, of any defects that make the title unmarketable.
279	Seller will have 30 days from after receiptving of Buyer’s notice of defects (“Curative Period”) to cure the defects

at

280Seller’s expense. If Seller cures the defects within the Curative Period, Seller will deliver written notice to Buyer

281and the parties will close the transaction Closing will occur on Closing Date or within 10 days from after Buyer’s

receiptves

of

Seller’s

notice

if

Closing

Date

282has passed. If Seller is unable to cure the defects within the Curative Period, Seller will deliver written notice to

283Buyer and Buyer will, within 10 days from after receiptving of Seller’s notice, either cancel this Contract, extend

Curative

284Period for a specified period not to exceed 120 days, or accept title with existing defects and close the

285transaction.

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

287and must deliver written notice to Seller, within 5 days from after receiptving of survey or title insurance commitment, whichever is received later but no later than Closing, of any encroachments on the Property, encroachments

by

289the Property’s improvements on other lands, or deed restriction or zoning violations. If Buyer timely delivers such

290notice, any such reported encroachment or violation will be treated in the same manner as a title defect, and

Buyer’s

and

Seller’s

291and Buyer’s obligations will be determined in accordance with sSubparagraph (b) above.

MISCELLANEOUS

29211. EFFECTIVE DATE; TIME; FORCE MAJEURE:

293(a) Effective Date: The “Effective Date” of this Contract is the date on which the last of the parties initials or

294signs and delivers the final offer or counter offer. Time is of the essence for all provisions of this Contract.

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

296Saturday, Sunday, and national legal holidays). If any deadline falls on a Saturday, Sunday, or national legal

297holiday, performance will be due the next business day. All time periods will end at 5:00 p.m. local time (meaning

298in the county where the Property is located) of the appropriate day.

299(c) Force Majeure: Seller or Buyer or Seller shawill not be required to perform any obligation under this

Contract		or	be	liable
300	to each other for damages so long as the performance or non-performance of the obligation is delayed, caused,
301	or prevented by an “act of God” or “force majeure.” An “act of God” or “force majeure” is defined as hurricanes,
302	earthquakes, floods, fire, unusual transportation delays, wars, insurrections, and any other cause not reasonably
303	within the control of the Buyer or Seller or Buyer and which by the exercise of due diligence the non-performing
party				is
304	unable in whole or in part to prevent or overcome. All time periods, including Closing Date, will be extended (not
305	to exceed 30 days) for the period that the force majeure or act of God or force majeure is in place. In the event
that		such	“act	of

306	God” or “force majeure” event continues beyond the 30-days period referenced in this sSubparagraph, either
party

307may cancel the this Contract by delivering written notice to the other; and Buyer’s deposit(s) shawill be refunded.

30812. NOTICES: All notices shawill be in writing and will be delivered to the parties and Broker by mail, personal

delivery,

309or electronic media. Except for the notices required by Paragraph 3 of this Contract, Buyer’s failure to timely deliver

310written notice to Seller, when such notice is required by this Contract, regarding any contingenciesy will render

311that contingency null and void, and the this Contract will be construed as if the contingency did not exist. Any

312notice, document, or item delivered to or received by an attorney or licensee (including a transaction broker)

313representing a party will be as effective as if delivered to or received by that party.

31413. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller and Buyer. Except

for

315brokerage agreements, no prior or present agreements will bind Buyer, Seller, Buyer, or Broker unless incorporated

316into this Contract. Modifications of this Contract will not be binding unless in writing, signed or initialed, and

317delivered by the party to be bound. Electronic signatures will be acceptable and binding. Signatures, initials, documents

318referenced in this Contract, counterparts, and written modifications communicated electronically or on paper will be

319acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted in or

320attached to this Contract prevail over preprinted terms. If any provision of this Contract is or becomes invalid or

321unenforceable, all remaining provisions will continue to be fully effective. Buyer and Seller and Buyer will use

diligence

and

good

322faith in performing all obligations under this Contract. This Contract will not be recorded in any public records.

32314. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller’s written consent. The

324terms “Buyer,” “Seller,” “Buyer,” and “Broker” may be singular or plural. This Contract is binding on the heirs,

administrators,

325executors, personal representatives, and assigns (if permitted) of Buyer, Seller, Buyer, and Broker.

DEFAULT AND DISPUTE RESOLUTION

32615. DEFAULT:

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

328effort, Seller fails, refuses, or neglects to perform this Contract, Buyer may choose to receive a return of Buyer’s

329deposit(s) without waiving the right to seek damages or to seek specific performance as per Paragraph 16. Seller

330will also be liable to Broker for the full amount of the brokerage fee.

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

332deposits, Seller may choose to retain and collect all deposits paid and agreed to be paid as liquidated damages

333or to seek specific performance as per Paragraph 16; and Broker will, upon demand, receive 50% of all deposits

334paid and agreed to be paid (to be split equally among Brokers) up to the full amount of the brokerage fee.

33516. DISPUTE RESOLUTION: This Contract will be construed under Florida law. All controversies, claims, and other

336matters in question arising out of or relating to this transaction or this Contract or its breach will be settled as follows:

337(a) Disputes concerning entitlement to deposits made and agreed to be made: Buyer and Seller and

Buyer					will					have
338	30 days from after the date conflicting demands are made to attempt to resolve the dispute through mediation. If
that	fails, Escrow Agent will submit the dispute, if so required by Florida law, to Escrow Agent’s choice of arbitration, a
339
340	Florida court, or the Florida Real Estate Commission (“FREC”). Buyer and Seller will be bound by any resulting
award,	judgment	or	order.	A	broker’s	obligation	under	Chapter	475,	Florida
341	Statutes, and the FREC rules to timely notify the FREC of an escrow dispute and timely resolve the escrow
342	dispute through mediation, arbitration, interpleader, or an escrow disbursement order, if the broker so chooses,
applies		only			to	brokers		only		and

343	does not apply to title companies, attorneys, or other escrow companies holders.
344	(b) All other disputes: Buyer and Seller, Buyer, and Broker will have 30 days from after the date a dispute
arises	between	them

345to attempt to resolve the matter through mediation, failing which the parties, including Broker, will resolve the

346dispute through neutral binding arbitration in the county where the Property is located. However, no arbitration

347arising out of or relating to this transaction or this Contract or its breach will include Broker, unless Broker

348consents in writing to become a party to the proceeding. A demand for arbitration is prohibited if a civil action

349requesting the same relief would be barred by Florida statute of limitations. The arbitrator may not alter the

350Contract terms or award any remedy not provided for in this Contract. The award will be based on the greater

351weight of the evidence and will state findings of fact and the contractual authority on which it is based. If the

352parties agree to use discovery, it will be in accordance with the Florida Rules of Civil Procedure, and the arbitrator

353will resolve all discovery-related disputes. Any disputes with a real estate licensee or firm named in Paragraph 19 will be submitted to arbitration only if the licensee’s broker consents in writing to become a party to the proceeding. For

purposes

of

this

Paragraph,

Broker

will

be

treated

as

a

party

to

this

354Contract. This clause will survive Closing.

355(c) Mediation and Arbitration; Expenses: “Mediation” is a process in which parties attempt to resolve a dispute

356by submitting it to an impartial mediator who facilitates the resolution of the dispute but who is not empowered to

357impose a settlement on the parties. Mediation will be in accordance with the rules of the American Arbitration

358Association (“AAA”) or other mediator agreed on by the parties. The parties will equally divide the mediation fee,

359if any. “Arbitration” is a process in which the parties resolve a dispute by a hearing before a neutral person who

360decides the matter and whose decision is binding on the parties. Arbitration will be in accordance with the rules of

361the AAA or other arbitrator agreed on by the parties. Each party to any arbitration will pay its own fees, costs, and

362 expenses, including attorneys’ fees, and will equally split the arbitrators’ fees and administrative fees of

363arbitration.

ESCROW AGENT AND BROKER

36417. ESCROW AGENT/CLOSING AGENT: Buyer and Seller and Buyer authorize Escrow Agent and Closing Agent

(collectively

365“Agent”) to receive, deposit, and hold funds and other items in escrow and, subject to clearance Collection, disburse

them

upon

366proper authorization and in accordance with Florida law and the terms of this Contract, including disbursing brokerage

367fees. “Collection” or “Collected” mean any checks tendered or received have become actually and finally collected

368and deposited in the account of Agent. The parties agree that Escrow Agent will not be liable to any person for

misdelivery

369of escrowed items to Buyer or Seller or Buyer, unless the misdelivery is due to Escrow Agent’s willful breach of this

Contract

or

gross

370negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and

costs

from

the

371deposit and will recover reasonable attorneys’ fees and costs to be paid from the escrowed funds or equivalent and

372charged and awarded as court costs in favor of the prevailing party. All claims against Escrow Agent will be arbitrated,

so

long

373as Escrow Agent consents to arbitrate.

37418. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller and Buyer to verify all facts

and

375representations that are important to them and to consult an appropriate professional for legal advice (for example,

376interpreting contracts, determining the effect of laws on the Property and transaction, status of title, foreign investor

377reporting requirements, the effect of property lying partially or totally seaward of the coastal construction control line,

378etc.) and for tax, property condition, environmental, and other specialized advice. Buyer acknowledges that Broker

379does not reside in the Property and that all representations (oral, written, or otherwise) by Broker are based on Seller

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

381governmental agencies for verification of the Property condition, square footage, and facts that materially

382affect Property value. Buyer and Seller and Buyer respectively will pay all costs and expenses, including

reasonable

attorneys’

383fees at all levels, incurred by Broker and Broker’s officers, directors, agents, and employees in connection with or

384arising from Buyer’s or Seller’s or Buyer’s misstatement or failure to perform contractual obligations. Buyer and

Seller		and	Buyer	hold
385	harmless and release Broker and Broker’s officers, directors, agents, and employees from			all liability for loss or
386	damage based on (1i) Buyer’s or Seller’s or Buyer’s misstatement or failure to perform contractual obligations; (2ii)
the			use	or

387display of listing data by third parties, including but not limited to photographs, images, graphics, video recordings,

388virtual tours, drawings, written descriptions, and remarks related to the Property; (3iii) Broker’s performance, at

Buyer’s

and/or

Seller’s

389and/or Buyer’s request, of any task beyond the scope of services regulated by Chapter 475, F.lorida S.tatutes, as

390amended, including Broker’s referral, recommendation, or retention of any vendor; (4iv) products or services provided

391by any vendor; and (v) expenses incurred by any vendor. Buyer and Seller and Buyer each assume full responsibility

for

392selecting and compensating their respective vendors. This pParagraph will not relieve Broker of statutory obligations.

393For purposes of this pParagraph, Broker will be treated as a party to this Contract. This pParagraph will survive cClosing.

39419. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as “Broker.” Instruction

395to Closing Agent: Seller and Buyer direct cClosing aAgent to disburse at cClosing the full amount of the brokerage fees

396as specified in separate brokerage agreements with the parties and cooperative agreements between the brokers,

397except to the extent Broker has retained such fees from the escrowed funds. In the absence of such brokerage

398agreements, cClosing aAgent will disburse brokerage fees as indicated below. This pParagraph will not be used to modify

399any MLS or other offer of compensation made by Seller or listing broker to cooperating brokers.

400*	__________________________________________________________	________________________________________________________________
401	Selling Seller’s Sales Associate / License No.	Selling Firm/Brokerage FeeBuyer’s Sales Associate / License No.
402*	__________________________________________________________	________________________________________________________________
403	Listing Sales Associate/License No.Firm / Brokerage Fee: ($ or % of purchase price)	ListingBuyer’s Firm / Brokerage Fee: ($ or % of purchase price)

40420. ADDENDA: The following additional terms are included in the attached addenda and incorporated into this

405Contract (Check if applicable and attach the addenda):

Additional Clauses	Inspections	Property Disclosure
Appraisal	Insulation Disclosure (New Homes)	Rentals
As Is with Right to Inspect	Insurance	Rezoning
Assignment	Interest-Bearing Escrow Account	Sale/Lease of Buyer’s Property
Back-up Contract/	Lease Option/	Seller Financing
Kick-out Clause	Lease Purchase	Short Sale Approval
Condominium Association	Licensee - Personal Int. in Property	VA Financing
Defective Drywall	Mold Inspection	1031 Exchange
FHA Financing	Mortgage Assumption	Other _________________________
FIRPTA	New Mortgage Rates	Other _________________________
Homeowners’ Association	Pre-1978 Housing Lead-Based	Other _________________________
Housing for Older Persons	Paint Warning Statement	Other _________________________

406* 21. ADDITIONAL TERMS:

407*

408*

409*

410*

411*

412*