WwW A STATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULAR FLORIDA REAL ESTATE COMMISSION FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, vs. DBPR Case N° 99-82543 CAROLYN THOMAS STEWART, Respondent. / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (hereinafter "Petitioner") files this Administrative Complaint against Carolyn Thomas Stewart (hereinafter “Respondent”) and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state government licensing and regulatory agency charged with the responsibility and duty to prosecute Administrative Complaints pursuant to the laws of the State of Florida, in particular § 20.165, Fla. Stat., Chapters 120, 455 and 475, Fla. Stat., and the rules promulgated pursuant thereto. 2. Respondent is and was at all times material hereto a licensed Florida real estate salesperson, issued license number 0480374 in accordance with Chapter 475, Fla. Stat. 3. The last license issued was as a salesperson %M E S of Spring Hill Inc., t/a Re/Max Advantage Realty of Hernando, 4320 Lake in the Woods Drive, Spring Hill, Florida 34607. UW w) FDBPR v..Carolyn Thomas Stewart Case No. 99-82543 Administrative Complaint 4. On or about April 20, 1999 Respondent facilitated the sale and purchase of real property between Donald R. Beck and Sandra G. Beck as sellers and Theodore Phillip Melonas and Sue Marie Melonas as buyers. A copy of the contract is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint, Exhibit 1. 5. The parties agreed that the buyers would immediately make a $1,000 earnest money deposit to be held by a title company. 6. The buyers gave the Respondent a check in the amount of $1,000 on or about April 20, 1999. 7. The Respondent claims she attempted to hand deliver the check to the title company on April 22, 1999, but was unable to do so becayse the title company was closed. 8. Respondent states she then mailed the check to the title company on or about April 26, 1999. According to the Respondent, this mailing had insufficient postage and the correspondence was returned. 9. Respondent then forwarded the check by mail again on May 14, 1999. 10. The title company made the deposit on May 17, 1999. 11. The Respondent did not give the earnest money deposit to her employer. 12. Thereafter the buyers canceled the contract and stopped payment on the check. 13. The transaction did not close. U U FDBPR v.-Carolyn Thomas Stewart Case No. 99-82543 Administrative Complaint COUNT I Based upon the foregoing, Respondent is guilty of failure to immediately place with the registered employer any money, fund, deposit, check or draft entrusted to her as agent of the registered employer in violation of Fla. Admin. Code r. 6132-14.009 and § 475.25(1)(k), Fla. Stat. and therefore in violation of § 475.25(1)(e), Fla. Stat. | COUNT I Based upon the foregoing, Respondent is guilty of culpable negligence in violation of § 475.25(1)(b), Fla. Stat. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Commission, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475, Fla. Stat., depending upon the severity of the offense(s), include: revocation of the license or registration or permit; suspension of the license, registration or permit for a period not to exceed ten (10) years, imposition of an administrative fine of up to $1,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant or permitee to complete and pass additional real estate education courses; publication; or any combination of the foregoing which may apply. See § 475.25(1), Fla. Stat. and Rule 61J2- Ue U FDBPR v. Carolyn Thomas Stewart Case No. 99-82543 Administrative Complaint 24.001, Fla. Admin. Code. The penalties which may be imposed for violation(s) of Chapter 455, Fla. Stat., depending upon the severity of the offense(s), include: revocation of the license, registration, or permit; suspension of the license, registration, or permit for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or permitee to complete and pass additional real estate education courses; publication; restriction of practice; injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See § 455.227, Fla. Stat. and Rule 61J2-24.001, Fla. Admin. Code. SIGNED this Po) PF say of due. , 2000. Pert an FILER. ; Professional Regulation an By: Herbert S. Fecker, Jr. Director, Division of Real Estate a v FDBPR v. Carolyn Thomas Stewart Case No. 99-82543 Administrative Complaint ATTORNEY FOR PETITIONER Tanya E. Davis Florida Bar N° 0093572 Senior Attorney Department of Business and Professional Regulation, Legal Section - Suite N 308 Hurston Bldg. North Tower 400 West Robinson Street Orlando, Florida 32801-1772 (407) 481-5632 (407) 317-7260 FAX AP/TED/k PCP: MV/JS 6/00 i NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under § 120.573, Fla. Stat, is not available for administrative disputes involving this type of agency action. PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57, Fla. Stat.; that you have the right, at your option and expense, to be represented by counsel or other qualified representative in this matter; and that you have the right, at your option and expense, to take testimony, to call and cross-examine witnesses, and to have subpoena and subpoena duces tecum issued on your behalf if a formal hearing is requested. PLEASE BE FURTHER ADVISED that if you do not file an Election of Rights form or some other responsive pleading with the Petitioner within twenty-one (21 days of receipt of this Administrative Complaint, the Petitioner will file with the Florida Real Estate Commission a motion requesting an informal hearing and entry of an appropriate Final Order which may result in the suspension or revocation of your real Ca w) FDBPR v.-Carolyn Thomas Stewart Case No. 99-82543 Administrative Complaint estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form. ’ pavantage Kealty of Hernando County 4320 Lake in the Woods Driv’ Spring Hill, Florida 34607 Office: (352) 596-9999, (800) 940-8424 Fax: (352) 597-2115 OD», THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS® AND THE Gu Tr rehase 1GE REALTORS® ANO THE FLORID. utd C. Beck, t howtin 2. ib Cele i, Pheitgs Thshirnes) qe dee. Mite ("Buyer"), hereby agree that Seller shall sell and Buyer shall buy the following described real property and personal property (collectively "Property’) pursuant to the terms and conditions of this Contract for Sale and Purchase and any diders and addenda (“Contract”): 1. DESCRIPTION: (a) Legal description of the Rea! Property located in County, Florida: P 7Leef / dink 23,B f (b) et addrgss, city, zip, of the Property is: ) ap: Property S Redhuackis , Afeyertee ; Uh begs t / I, PURCHASE PRICE:.......... i PAYMENT: Dene eg ete tence ene nees (a) Deposit held in escrow by Chelax Ahn > Fit A (Escrow Agent) inthe amountof.... 0... c ccc e cece cee eceeecceceseeceeaeeees $ __ 4.920. ¢0 (b) Additonal escrow deposit to be made to Escrow Agent within days after Effective Date (see Paragraph lli}in the amount of ................0.005 $ (c) Subject to ANO assumption of existing mortgage in good standing in favor of having an approximate present principal balance of... ........ 0.00000 00 eee $e (d) New mortgage financing with a Lender (see Paragraph IV) in the amount......... $ of ~ (e) Purchase money mortgage and note to Seller (see rider for terms) in the amount of ——— ey $ (f) Other: ee $ —______ (g) Balance to close by U.S. cash or LOCALLY DRAWN cashier's or official bank check(s), subject to adjustments or prorations. 6... 6... ee eee $ 02,000.70 Ml, TIME FOR ACCEPTANCE OF OFFER; EFFECTIVE .DATE; FASCIMILE: If this offer is not executed by and delivered to ail parties OF FACT OR EXECUTION communicated in writing between the parties on or before =_a/~ , he deposit(s) will, at Buyer's option, be returned and this offer withdrawn. For Purposes of delivery oar notice of execution, parties include Buyer and Seller or each of the respective brokers or attorneys. The date of Contract ("Effective Date") will be the date when the last one of the Buyer and Seller has signed this offer. A facsimile copy of this Contract and any signatures hereon shall be considered for all purposes as an original. IV. FINANCING: im) (a) This is a cash transaction with no contingencies for financing; G (b) This Contract is conditioned on Buyer obtaining a written loan commitment within 9 2 days after Effective Date for (CHECK.ONLY ONE): C] a fixed; [1] an adjustable: or CH a fed or adjustable rate loan in the principal amount of $ 3 ~/v _ at a inital interest rate not to exceed 25 %, discount and origination fees not to exceed __~)_ _ % of principal amount, and for a term of ZO years. Buyer will make application within —LO_ days (5 days if left blank) after Effective Date and use reasonable diligence to obtain a loan commitment and, thereafter, to satisfy terms and conditions of the commitment and close the loan. Buyer shall pay all loan expenses. If Buyer fails to obtain a commitment or fails to waive Buyer's rights under this subparagraph within the time for obtaining a commitment or, after diligent effort, fails to meet the terms and conditions of the commitment by the closing date, then either party thereafter, by written notice to the other, may cancel this Contract and Buyer shall be refunded the deposit(s); or Oo {c) The existing mortgage, described in Paragraph li(c) above, has: Cla variable interest rate; or Oa fixed interest rate of ______ % per annum. At time of tile transfer, some fixed interest rates are subject to increase: if increased, the rate shall not exceed _____% per annum. Seller shail furnish a statement from each mortgagee stating the principal balance, method of payment, interest rate and status of mortgage or authorize Buyer or Closing Agent to obtain the same. If Buyer has agreed to assume a mortgage which requires approval of Buyer by the mortgagee for assumption, then Buyer shall promptly obtain the necessary application and diligenty complete and return it to the mortgagee. Any mortgagee charge(s), not to exceed $ ____ (1% of amount assumed if left blank), shall be paid by Buyer. if Buyer is not accepted by mortgagee or the requirements for assumption are not in accordance with the terms of this Contract or mortgagee makes a charge in excess of the stated amount, Seller or Buyer may rescind this Contract by written notice to the other party unless either elects to pay the increase in interest rate or excess mortgage charges. V. TITLE EVIDENCE: At reat £0 days before closing date, (CHECK ONLY OnE): A seter shall, at Seller's expense, deliver to Buyer or Buyer's attorney; or Q Buyer shall at Buyer's expense obtain (CHECK ONLY ONE): ia) abstract osteo te insurance commitment (vith legible copies of instruments listed as exceptions attached thereto) and, after cloging, an owner's policy of title insurance. Vi. CLOSING DATE: This transaction shall be closed and the closing documents delivered on = = , unless modified by other provisions of this Contract. vi. EN ag SEMENTS; LIMITATIONS: Buyer shail take title subject to: comprehensive land use plans, zoning, LB 2) ¢ 20-49 FARJBAR-S, Contract for Sale and Purchase, Revised 8/98 COPYRIGHT 1998 THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF FIEALTORS® Rea AST pois, HoxA700, Frisco, CO 80443, Version 5.51, CRealFAST®, 1998; Reg# LFLFAR225087 reson Senn Compl yy, Cay Administrator, RE/MAX ADVANTAGE REALTY OF HERNANDO COUNTY By Buyer(s) 14/49/98 11:18:36 Page 1 of4 soul Fe ree $d0-G9 FAL 7 restrictions, prohibitions and other requirements imposed by governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; outstanding oil, gas and minera{ rights of record without right of . entry | “ic utlity easements of record (easements are to be locat” ntiguous to real property lines and not more than et in width as to the rear or front lines and 7 1/2 feet in as to the side lines, unless otherwise stated herel ixes for year of closing and subsequent years: assumed jages and purchase money mortgages, if any (if addriorial items, see addendum); provided, that there e: at closingyno violation of the foregoing and none prevent . “use of the property for purpose(s). Vill. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller; but if Property is intended to be rented or occupied beyond closing, the fact and terms thereof and the tenant(s) or occupants shall be disclosed pursuant to Standard F. Seller shall deliver occupancy of Property to Buyer at time of closing unless otherwise stated herein. If occupancy is to be delivered before closing, Buyer assumes ail risks of loss to Property from date of occupancy, shall be responsible and liable for maintenance from that date, and shall be deemed to have accepted Property in its existing condition as of time of taking occupancy unless otherwise stated herein. IX. TYPEWRITTEN OR HANDWRITTEN LIMITATIONS: Typewritten or handwritten provisions, riders and addenda shalt control all printed provisions of this Contract in confict with them. X. RIDERS: (CHECK those riders which are applicable AND are attached to this Contract): CI cOMPREHENSIVE RIDER CIHOMEOWNERS'ASSN. CI COASTAL CONSTRUCTION CONTROL LINE OC) conpominium Oas.is" C1 INSULATION OVAFHA CLeap-BASED PAINT qo Xl. ASSIGNABILITY: (CHECK ONLY ONE): Buyer [1] may assign and thereby be released from any further liability under this Contract C] may assign but not be released from liability under this Contract, or A may not assign this Contract. XtL DISCLOSURES: (a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantties may present health risks to parsons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon testing may be obtained from your County Public Health unit. (p) Buyer acknowledges receipt of the Florida Building Energy-Efficiency Rating System Brochure. (c) If the real property includes pre-1978 residential housing then a lead-based paint rider is mandatory. (d) If Seller is a “foreign person" as defined by the Foreign Investment in Real Property Tax Act, the partes shall comply with that Act. (e) If Buyer will be obligated to be a member of a homeowners’ association, BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS’ ASSOCIATION DISCLOSURE. Xi MAXIMUM REPAIR COSTS: Seller shail not be responsible for payments in excess of: (a) $ for treatment and repair under Standard O (if blank, then 2% of the Purchase Price). (b) $ for repair and replacement under Standard N (if blank, then 3% of the Purchase Price). XIV. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and Check Here Oo. XV. STANDARDS FOR REAL ESTATE TRANSACTIONS: Standards A through W on the reverse side or attached are incorporated as a part of this Contract. THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE OF AN ATTORNEY PRIOR TO SIGNING. . THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR. Approval does not constitute an opinion that any of the terms and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions should be negotiated based upon the respective interests, objectives and bargaining positions of all interested persons. COPYRIGHT 1998 BY THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORS SD . , ; BUYER LA 4 pare 2 @) Z SHAE 2 SELLER Sele 4. pare &-ZO-FF Rh. Dorrtf Deposit under Paragraph 1! (a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE we (Escrow Agent) BROKER'S FEE: The brokers named below, including listing and cooperating brokers, are the only brokers entitled to compensation in connection with this Contract: —_— Name: el niy Gdvanlayo Rastly Cooperating Brokers, if any STANDARDS FOR REAL ESTATE TRANSACTIONS - _— A, EVIDENCE OF TITLE: (1) An abstract of tie prepared or brought current by a reputable and existing abstract firm (if not existing then certified as correct by an existing firm) purporting to be an accurate synopsis of the instuments affecting title to the real property recorded in the public records of the county wherein the real property is located through Effective Cate. it shall commence with the earliest public records, or such later date as may be customary in the county. Upon closing of this Contract, the abstract shall became the property of Buyer, subject to the right of retention thereof by first mortgagee until fully paid. (2) A title insurance commitmentissued by a Florida licensed tite insurer agreeing to issue Buyer, upon recording of the deed to Buyer, an owner's policy of ttle insurance in the amount of the purchase price, insuring Buyer's tile to the real property, subject only to liens, encumbrances, exceptions or qualifications provided in this Contract and those to be discharged by Seller at or before closing, Seller shal convey marketable tile subject only to liens, encumbrances, exceptions or qualifications provided in this Contract Marketable tite shall be determined according to applicable Tite Standards adopted by authority of The Florida Bar and in accordance with law. Buyer shall have 5 days from date of receiving evidence of tile to examine it. If tite is found defective, Buyer shall within said 5 days notify Seller in writng specifying the defect(s). If defect(s) render tite unmarketable, Seller will have 30 days from receipt of notice to remove the defects, failing which Buyer shall, within five (5) days after expiration of the thirty (30) Usting Broker FAR/BAR-, Contract for Sale and Purchase, Revised 8/98 COPYRIGHT 1998 THE FLORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORS® RealFA$T® Forms, Box 4700, Frisco, CO 80443, Version 5.51, ORealFA$T®, 1998; Reg# LFLFAR225087 Completed by - Administrator, Administrater, RE/MAX ADVANTAGE REALTY OF HERNANDO COUNTY 11/13/98 11:19:39 Page 2 of pl deliver written notce to Seiler either: (1) extending the tm ‘a reasonable period not to exceed 120 days within wnich Seller shali use diligent effort to remove the defects; or (2) requesting a refund of deposit(s) paid which shail be immediately returned to Buyer. If Buyer fails to so notify Seller, Buyer shail be deemed to have accepted the ttle as it then is, Seller shall, if tite is found unmarketable, use diligent effort to correct defect(s) within the time provided therefor. If Seller is unable to tmely correct the defects, Suyar shal either waive the defects, or receive a refund of deposit(s), theredy teleasing Buyer and Seller from all further obligations under this Contract. If evidence of tite is delivered to Buyer jess than § days prior to closing, Buyer may extend closing date so that Buyer shall have up to § days from date of receipt of evidence of title to examine same in accordance with this Standard. B. PURCHASE MONEY MORTGAGE: SECURITY AGREEMENT TO SELLER: A purchase money mortgage and mortgage note to Seiler shall provide for a 30-day grace period In the event of default if a first mortgage and a 18-day grace period if a second or lesser mortgage; shall provide for ‘ight of prepayment in whole or in part without penalty; shall permit acceleration in event of transfer of the real Property; shal! require ali prior liens and encumbrances to be kept in good standing and forbid modifications of or future advances under prior mortgage(s); shall require Buyer to maintain policies of insurance containing a standard mortgagee clause covering all improvements located on the real property against fire and all perils included within the term "extended coverage endorsements" and such other risks and peris as Seller may reasonably require, in an amount equal to their highest insurable value; and the Mortgage, note and security agreement shall be otherwise in form and content required by Seller; but Seller may only require clauses and coverage customarily found in mortgages, mortgage notes and security agreements generally utilized by savings and loan institutions or state or national banks located in the county wherein the real property is located. All persanal property and leases being conveyed or assigned will, at Seller's option, be subject to the lien of a security agreement evidenced by recorded financing statements. If a balloon mortgage, the final mortgage, the final payment wil exceed the periodic payments thereon. C, SURVEY: Buyer, at Buyer's expense, within time allowed to deliver evidence of tite and to examine same, may have the real property surveyed and certified by a registered Florida surveyor, If the survey discloses encroachments on the real Property or that improvements located thereon encroach on setback lines, easements, laids of others or violate any restrictions, Contract covenants or applicable governmental regulation, the same shall constitute a title defect. D, TERMITES/WOOD DESTROYING ORGANISMS: Buyer, at Buyer's expense, within the time allowed to deliver evidence of title, may have the Property inspected by a Florida Certified Pest Control Operator ("Operator’) to determine if there is any visible active termite infestation or visible damage from termite infestation, excluding fences. If either or both are found, Guyer shail have 4 days from date of written notice thereof within which to have cost of treatment, if required, estimated by the Operator and all damage inspected and estimated by a licensed builder or general contractor. Seiler shai Pay valid costs of treatment and repair of all damage up to the amount provided in Paragraph Xlll(a). if estimated costs exceed that amount, Buyer shall have the option of canceling this Contract within 5 days after receipt of contractor's repair estimate by giving written notice to Seller or Buyer may elect to proceed with the transaction and receive a credt at closing on the amount provided in Paragraph XIll(a). "Termites" shall be deemed to include all wood destroying organisms required to to be reported under the Florida Pest Control Act, as amended, . E, INGRESS AND EGRESS: Seller warrants and represents that there is ingress and egress to the real property sufficient for its intended use as described in Paragraph Vil hereof, tite to which is in accordance with Standard A. F, LEASES: Seiler shail, not less than 15 days before closing, furnish to Buyer copies of all written leases and estoppel letters from each tenant specifying the nature and duration of the tenants occupancy, rental rates, advanced rent and security deposits paid by tenant if Seller is unable to obtain such letter from each tenant, the same. information shall be furnished by Seller to Buyer within that time period in the form of a Seller's affidavit, and Buyer may thereafter contact tenant to confirm such information. Seller shall, at closiny, deliver and assign all origina leases to Buyer. G, LIENS: Soller shal! fumish to Suyer at ime of closing an affidavit attesting to the absence, unless otherwise provided for herein, of any financing statement, claims of lien or Fotential lienors known to Seller and further attesting that there have been no improvements or repairs to the real Property for 90 days immediately preceding date of closing. If the real property has been improved or repaired within that time, Seller shall deliver releases or waivers of construction liens executed by all general contractors, subcontractors, suppliers and materiamen in addition to Selter's iien affidavit setting forth the names of ail such general contractors, subcontractors, suppliers and materiamen, further affirming that all charges for improvements or repairs which could serve as a basis for a construction lien or a claim for damages have been paid or will be paid at the closing of this Contract, H. PLACE OF CLOSING: Closing shall be held in the county wherein the rea property is located at the office of the attorney or other closing agent ("Closing Agent") designated by Seller, |. TIME: In computing time periods of less than six (8) days, Saturdays, Sundays and state or nationai legal holidays shall be excluded. Any time pericds provided for herein which shall end on a Saturday, Sunday, or a legal holiday shall extend to 5:00 p.m. of the mext business day. Time Is of the essence In this Contract. J. CLOSING DOCUMENTS: Seller shail furnish the deed, bil of sale, construction lien affidavit, owner's possession affidavit, assignments of leases, tenant and mortgagee estoppel letters and correctve instuments. Buyer shall furnish closing statement, mortgage, mortgage note, security agreement and financing statements. K. EXPENSES: Documentary stamps on the deed and recording of corrective instruments shall be paid by Seller. Documentary stamps and intangible tax on the purchase money mortgage and any mortgage assumed, mortgagee tite insurance commitment with related fees, and tecording of purchases money mortgage to Seller, deed and financing Statements shali be paid by Buyer. Unless otherwise orovided by law or rider to this Contract, charges for the following related tite services, namely tite or abstract charge, tits examination, and settement and closing fee, shall be paid by the party responsible for furnishing the tite evidence in accordance with Paragraph V. L. PRORATIONS; CREDITS: Taxes, assessments, tent, interest, insurance and other expenses of the Property shall be prorated through the day before closing. Buyer shall have the option of taking over exsting policies of insurance, if assumable, In which event premiums shall be prorated. Cash at closing shall be increased or decreased as may be required by prorations to be made through day Prior to closing, or occupancy, if occupancy occurs before closing. Advance rent and security deposits will be credited to Buyer. Escrow deposits held by mortgagee will be credited to Seller. Taxes shail be prorated based on the current year's tax with due allowance made for maxmum allowable discount, homestead and other exemptions. If closing occurs at a date when the current year's millage is not fixed and current year's assessment is available, taxes will be prorated based upon such assessment and prior ysar's millage. If current year’s assessment is not available, than taxes will be prorated on prior year's tax. If there are completed improvements on the reat property by January 1st of year of closing, which improvements were not in existence on January tst of prior year, then taxes shall be prorated based upon prior year's millage and at an equitable assessment to be agreed upon between the parties; failing which, request shall be made to the County Property Appraiser for an informal assessment taking into account available exemptions. A tax proretion based on an estimate shall, at request of either party, be Teadjusted upon receipt of tax bill on condition that a statement to that effect is signed at closing. M, SPECIAL ASSESSMENT LIENS: Certtied, confirmed and rattied special assessment liens as of date of closing (not as of Effective Date) are to be paid by Seller, Pending liens as of date of closing shall be assumed by Buyer, If the improvement has been substantially completed as of Effective Date, any pending lien shall be considered certified, confirmed or ratified and Seller shall, at closing, be charged an amount equal to the last estimate or assessment for the improvement by the public body. N. INSPECTOIN, REPAIR ANO MAINTENANCE: Selier warrants that the ceiling, roof (including the fascia and soffits) and exterior and interior walls, foundation, seawalis (or equivalent) and dockage do not have any Visible Evidence of leaks, OE: deliver written notice to which Buyer shall, within ‘ 5) days after expiration of the thirty (30) day FARBAR-E, Contract for Sale and Purchase, Revised 8/98 COPYRIGHT 1898 THI ORIDA BAR AND THE FLORIDA ASSOCIATION OF REALTORSO r Box 4700, Frlaco, CO 80443, Version 5,54, ORealFASTS, 1908; Reg LFLFAR225087 = Administrator, Administrator, RE/MAX AOVANTAGE REALTY OF FERNANDO COUNTY f 19/13/98 11:20:23 a eae Witn 66 to be made and shail pay up to the amount provided in P; h XiIIb). Seller is not required to make repairs or ements of a Cosmetic Condition unless caused by a defect r is responsible to repair or replace, if the cost for ~ suchwepair or replacement exceeds the amount provided in Paragraph Xill(b), Buyer or Seller may elect to Pay such excess, falling which either party may cancel this Contract. if Seller is unable to correct the defects prior to closing, the cost thereof shall be paid into escrow at closing, Seller shall, upon reasonable notice, provide utilities service and access to the Property for inspections, including awalk-througn prior to closing, to confirm that alt items of Personal property are on the real property and, and subject to the foregoing, that all required repairs and replacements have been made and that the Property, including, but not limited to, lawn, shrubbery and pool, f any, has been maintained in the condition existing as of Effective Date, ordinary wear and tear excepted. For purposes of this Contract: (a) "Working Condition” means operating in the manner in which the item was designed to operate: (b) "Cosmetic Condition” means aesthetic imperfections that do not effect the working condition of the item, including, but not limited to: pitted marcite; missing or torn screens; fogged windows; tears, worn spots, or discoloration of floor coverings, wallpaper, or window treatments; nail holes, scratches, dents, scrapes, chips or caulking in ceilings, walls, flooring, fitures, ar mirrors; and minor cracks in floors, ties, windows, driveways, sidewalks, or pool decks; and (c) cracked roof tiles, curling or worn shingles, or limited roof life shall not be considered defects Seller must repair or Teplace, so long as there is no evidence of actual leaks or leakage or structural damage, but missing tiles will be Sellers responsibility to replace or repair, O, RISK OF LOSS: If the Property Is damaged by fire or other casualty before closing and cost of restoration does not Ux as to defects not reported, If repairs or replacements are iy: to comply with this Standard, Seller shall cause conditions of this Contract. Failure of funds to clear shalt not excuse Buyer's performance. if in doubt as to Agent's duties or liabilities. under the provisions of this Contract, Agent may, at Agent's option, continue to hold the subject matter of the equivalent and charged and awarded as court costs in favor of the prevailing party. The Agent shall not be liable to any party of person for misdelivery to Buyer or Seller of items subject to the escrow, unless such misdelivery is due to wiltul breach of the provisions of this Contract or gross negligence of Agent. R. ATTORNEY'S FEES; COSTS: in any litigation, inclsding breach, enforcement or interpretation, arising out of this Contract, the prevailing party in such litigation, which, for purposes of this Standard, shall include Seller, Buyer and any brokers acting in agency or nonagency relatonships authorized by Chapter 475, F.S., as amended, shall be entitled to recover from the nor-prevaiing party reasonable attorney's fees, costs and expenses, interest. Whenever the context permits, singular shail include plural and one gender shall include all. Notice given by or U. CONVEYANCE: Seller shail Convey tile to the real property by statutory warranty, tustee's, personal representatve's of guardian's deed, as appropriate to the status of Seller, subject ‘onty to matters contained in Paragraph Vil and those otherwise accented by Buyer. Personal property shalt, at the request of Buyer, be transferred by an absolute bill of sale with warranty of tife, subject only to such matters as may be otherwise provided for herein, v. OTHER AGREEMENTS: No prior or present agreements or representations shall be binding upon Buyer or Seller unless included in this Contract. No modification to or change in this Contract shall be valid or binding upon the partes unless in writing and executed by the party or parties intended to be bound by it. W. WARRANTY: Seller warrants that there are no facts known to Seller materially affecting the value of the Property which are not readily observable by Buyer or which have not been disclosed to Buyer, RIDERS CAN BE OBTAINED FROM THE ASSOCIATION OF REALTORS® OR THE FLORI FARIBARS, Contract for Sale and Purchase, Revised 8/98 TORIDA BAR . COPYRIGHT 1898 THE FLORIOA BAR AND THE FLORIDA ASSOCIATION OF REALTORS® ReslFA$T® Forms, Bex 4700, Frisco, CO 80443. Version $51, CRealFASTE, 1958: Reg LFLFAR225087 ° 7 Completed by ; Administrator, Administrator, RE/MAX ADVANTAGE REALTY OF HERNANDO COUNTY . 2 ouniy ae 1493098 14:21:45 cout OE 20-74

Docket for Case No: 00-003246PL