STATE OF FLORIDA ro aa N 3 Oo! > FLORIDA DEPARTMENT OF BUSINESS = AND PROFESSIONAL REGULATION, nh DIVISION OF REAL ESTATE, - Petitioner, vs. FDBPR Case N° 200181730 SHERRYL DISHON BROWN, - . OS 384 PC Respondent. a ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (“Petitioner”) files this Administrative Complaint against Sherryl Dison Brown (“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 Section 20.165 and Chapters 120, 455 and 475 of the Florida Statutes, and the rules promulgated pursuant thereto. 2. Respondent is and was at all times material hereto a licensed Florida real estate broker, issued license number 699692 in accordance with Chapter 475 of the Florida Statutes. 3. The last license issued was as an active broker at P. O. Box 19013, Jacksonville, Florida 32245. FDBPR vs Sherryl Brown FDBPR Case N° 200181730 Administrative Complaint 4. On or about March 21, 2003, Respondent prepared a contract for the sale and purchase of property commonly known as 13361 Atlantic Boulevard, Jacksonville, Florida. 5. At all times material, Respondent changed the selling price on the contract from $200,000 to $220,000. A copy of the contract is attached hereto and incorporated herein as Exhibit 1. 6. Seller and Buyer did not have knowledge of the change in price until the property closed on or about May 25, 2001. A copy of the closing statement is attached hereto and incorporated herein as Exhibit 2. COUNT I Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT II Based upon the foregoing, Respondent is guilty of making deceptive, untrue, or fraudulent representations in or related to the practice of a profession or employing a trick or scheme in or related to the practice of a profession in violation of Section 455.227(1)(m), Florida Statutes. COUNT If Based upon the foregoing, Respondent is guilty of practicing or offering to practice beyond the scope permitted by law or accepting and performing professional responsibilities the licensee knows, or has reason to know, the licensee is not competent to perform in violation of Section 455.227(1)(0), FDBPR vs Sherryl Brown FDBPR Case N° 200181730 Administrative Complaint Florida Statutes. FURTHER ESSENTIAL ALLEGAITONS OF FACT 7. Petitioner realleges and incorporated herein Paragraphs One through Three above. 8. On or about March 19, 2001, Respondent wrote a contract for Tonisa Jones for the purchase of property commonly known as 639 Melba Street, Jacksonville, FL for $80,000. A copy of the contract is attached hereto and incorporated herein as Exhibit 3. 9. At all times material, Respondent received a commission of $29,174.12 for said property. 10. At all times material, said amount was above the commission set forth by Seller of said property. A copy of the listing is attached hereto and incorporated herein as Exhibit 4. COUNT IV Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT V Based upon the foregoing, Respondent is guilty of exercising influence on the client for the purpose of financial gain of the licensee or a third party in violation of Section 455.227(1)(n), Florida Statutes. FURTHER ESSENTIAL ALLEGAITONS OF FACT 11. Petitioner realleges and incorporated herein Paragraphs One through Three above. FDBPR vs Sherryl Brown FDBPFR Case N° 200181730 Administrative Complaint 12. On or about April 18, 2001, Respondent prepared a contract for the sale and purchase of property commonly known as 1058 West 17" Street, Jacksonville, Florida. (Ex 5 240-243) 13. At all times material, the contract for sale and purchase failed to close. 14. Said contract called for a $500.00 deposit to be placed with Respondent’s brokerage. 15. At all times material, Respondent never collected the $500.00 deposit. 16. At all times material, Respondent never informed Seller that the deposit had not been received. COUNT VI Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT VIL Based upon the foregoing, Respondent is guilty of failing to perform any statutory or legal obligation placed upon a licensee in violation of Section 455.227(1)(k), Florida Statutes. FURTHER ESSENTIAL ALLEGAITONS OF FACT 17. Petitioner realleges and incorporated herein Paragraphs One through Three above. 18. At all times material, Seller made a demand on the deposit. 19. At all times material, Respondent failed to notify the Florida Real Estate Commission of a conflicting demand placed on an escrow deposit. FDBPR vs Sherryl Brown FDBPR Case N° 200181730 Administrative Complaint COUNT VIII Based upon the foregoing, Respondent is guilty of fraud, misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT IX Based upon the foregoing, Respondent is guilty of failing to perform any statutory or legal obligation placed upon a licensee in violation of Section 455.227(1)(k), Florida Statutes. COUNT X Based upon the foregoing, Respondent is guilty of failure to account or deliver funds in violation of Section 475.25(1)(d)1., Florida Statutes. 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 of the Florida Statutes, 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 Section 475.25(1), Florida Statutes (2001) 5 FDBPR vs Sherryl Brown FDBPR Case N® 200181730 Administrative Complaint and Florida Administrative Code Rule 61J2-24.001. The penalties which may be imposed for violation(s) of Chapter 455 of the Florida Statutes, 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 Section 455.227, Florida Statutes (2001) and Florida Administrative Code Rule 61J2-24.001. SIGNED this _4_ day of Felt way. , 2004, ) a ig aes and Seg! Professional Regulation Cf Reat By: Jason Steele a, Director, Division of Real Estate Clerk 6 sane ea Detg ee avn ary, FDBPR vs Sherryl Brown FDBPR Case N° 200181730 Administrative Complaint ATTORNEY FOR PETITIONER James P. Harwood, Senior Attorney Florida Bar N° 0425941 Division of Real Estate Department of Business and Professional Regulation, Legal Section - Suite N 801 Hurston Bldg. North Tower 400 West Robinson Street Orlando, Florida 32801-1757 (407) 481-5632 (407) 317-7260 FAX JPH/k - PCP: BB/PH 2/04 NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under Section 120.573, Florida Statutes 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, Florida Statutes; 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 estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form. Q5/18/2061 88:48 9248541583 REMAX PAGE a1 QUEEN’S HARBOUR YACHT & COUNTRY CLUB 9/19/00 SS =~ — RESIDENTIAL LOT CONTRACT OF SALE mo DATE: Maoh. Al fee / BUYER'S. NAME: Ludya Y j \ le sf Pl print exactly #8 you wish title to be beld) . ADDRESS: fe Lorfol'sé Asauy _ CITY: 4 Tock smVvi la STATE: zip: .32-2,/ TELEPHONE (DAYTIME):_904 SL¥ 3SOle (EVENING) Z SOCIAL, SECURITY a MARITAL STATUS: THIS CONTRACT OF SALE is made this date hereinabove set out, between QUEEN'S HARBOUR YACHT & COUNTRY CLUB, LTD., a Florida limited partnership, hereinafter referred. to as “Seller”, whose address for purpose of notice under this Contract is 13361 Atlantic . Boulevard, Jacksonville, Florida 32225, and the above-named Buyer, hereinafter referred to ag “Buyer." , Seller agrees to sell and Buyer agrees:to purchase a homesite lot more fully described as Lot {ha of QUEEN'S HARBOUR YACHT & COUNTRY CLUB, UNIT ____, according to plat ereof, recorded in Plat Book pages of the current public records of Duval County, Florida (the “Lot’), on the following terms and conditions: 8,000." 1. se Pri hod of. nt ag) 0 The purchase price for the Lot is which shall be payable as follows: (a) Deposit, @) Additional Deposit due —— + 200 () _ Additional Funds due at Closing . (xcluding Closing Costs) TOTAL: The Deposits shall be held by Holland & Knight LLP (‘Escrow Agent”), whose address is 50 North J.aura Street, Suite 3900, Jacksonville, Florida 32202, in accordance with the provisions of _paragriiph 18, until Closing has occurred and the deed has been delivered in accordance with Paragriph 3 hereof. At Seller's request, the Deposits may be held in an interest-bearing account’ with interest payable to Seller, All funds due at Closing shall be made by.a CASHIER'S CHECK drawn yn a local bank or wire tranefer of funds. 2. Title Insurance. Prior to Closing, Seller shall deliver to Buyer or r Closing Agent a title binder for the Lot, showing good and marketable title vested in Seller subject only to the standard exceptions, taxes for the applicable year, covenants, restrictions, easements and conditions of record, zoning and easements and conditions of the plat, and a development mortgage which shall ' be released at Closing.. Buyer shall have until Closing to review the title binder and make any objection to the title. If Seller is unable or unwilling to cure the objections, Buyer may terminate this Contract by requesting the return of his Deposits or Buyer may may pi uurchase the Lot with title ae is, but with no reduction of the purchase price. ADMINISTRA T IVE COMPLAIN EXHIBIT yf PAGE ___/ oF EXHIBITE 8 paces 4\ @5/10/2001 08:48 9848541583 PAGE @2 3. os losing and Deliv: d. The Closing of this transaction shall take place on or before AZ . 200 (‘Closing Date”). In the event that the Buyer fails to close on the date set forth herein, the Seller may, in Seller's sole discretion, agree to defer the Closing Date, and in consideration of such extension, the Buyer shall pay a per diem late fee equal to twelve _ percent (12%) per annum. Frovided, however, the parties agree that upon compliance with the . provisions of this Contract and payment of sums due and delivery of the documents by Buyer, Seller shall deliver to Buyer a warranty deed to the Lot on the Closing Date, but in no event later than one hundred eighty (180) days after the date upon which this Contract was executed by Buyer. The warranty deed to be delivered shall be a properly executed general warranty deed free and.clear of all monetary liens and encumbrances, except any mortgage placed on the Lot by Buyer, _and subject to: (a) real estate taxes for the current year; (b) covenants, conditions, restrictions and easements of record; (c) zoning; (d) the provisions in the plat recorded in the public records of Duval _ County, ilorida; (e) the Queen's Harbour Yacht & Country Club Declaration of Covenants, Conditions, Restrictions and Easements, as such have been amended and supplemented, (the Declaration’); (f) such matters as would be evidenced by a Survey; (g) matters set forth in paragrapli 17 and (h) other matters which are not material or adverse to the use of the Lot for its intended purpose (the “Permitted Encumbrances”). Buyer shall approve the Permitted Encumbr:unces in writing at Closing, Subsequent to delivery of the deed, Seller shall deliver an owner's title insurance policy insuring the conveyance for the amount of the purchase price. The acceptamie- of the deed by Buyer and the Closing of the transaction by Seller shall be acknowleilgement by Buyer. of full’ performance by Seller of ite agreements, obligations and responsibilities under this Contract and no performance of any agreement, obligations or ‘répresentations of Seller shall survive the Closing, except the warranties of the Deed. : & Closing Costs, Seller shall pay documentary stamps on the deed, recording of lot releases, premium for an Owner's title insurance policy provided that euch policy is issued by a title company designated by Seller; commissions due in accordance with paragraph 9, and its attorney's fee, Buyvr-shall pay to record the deed, any Buyer's attorney's fee, and'the Association fees listed on the Disclosure of Closing Fees, which is attached hereto. In the event that there is a “muil-away” * Closing, Buyer shall pay all costs of expedited mail, Association assessments and ad valorem taxes ahall be jircrated between Seller and Buyer as of the date of Closing, but in the event that there is no “tex “cutciut? for the Lot for the year of Contract, the taxes shall be paid by Seller and Buyer - make a puro rata contribution thereto at Closing. . va, i. Restrictive Covenants and Owners Association.. Buyer. by execution of this -’ Contract: and by acceptance of a deed conveying the Lot, acknowledges and agrees with Seller that ’ (a) Buyer will be a member of and pay Association dues and assessments to the Queen’s Harbour Yacht &;. Country Club Owners Association, Inc., a non-profit corporation (the “Association”), (b) Buyer will ebide by and comply with the terms and conditions of the Declaration, and (c) Buyer will " further abide by the provisions of the Association's Articles of Incorporation and Bylaws including, . without limitation, all rules and regulations for Queen's Harbour promulgated and adopted under - the Bylaws. A copy of the ‘Declaration, Articles, Bylaws, Rules and Regulations, a homeowner's asgociation disclosure regarding recreational and other facilities, and a ten (10) year estimated - budget for road maintenance have been furnished by Seller to Buyer prior to execution of this - Contract and by this reference are made a part hereof. 8, Default. In the event that Buyer fails to comply with any of the provisions and " gbligatinne of this Contract, such failure ehall constitute a default hereunder. Upon such default, Seller will give Buyer written notification.of Buyer's default and Buyer shall have ten (10) days from receipt of the notice to cure the default. If Buyer does not cure the default, Seller shall be authorized to terminate this Contract and retain ‘all the Deposits, which shall constitute liquidated and agreed upon damages, and this Contract shall be of no furthe or effect, except the indemnities set EXHIB! 48 > acta @5/18/2881 88:48 9448541583 REMAX PAGE @3 ; TT a forth in paragraph 9. The retention of the Deposita as liquidated and agreed upon damages as ' providecl herein shall be Seller's sole remedy in the event of Buyer's default. . | In the event that Seller faile to convey title as provided herein or otherwise fails to comp] with the provisions and obligations herein, Buyer shall give notice to Seller stating such default ond if Seller does not cure such defect within ten (10) daye from notice, Buyer is authorized to terminate . this Contract and receive from Seller the Deposits given hereunder, whereupon this Contract shall be of no further force or effect, except the indemnities set forth in paragraph 9, or obtain specific performunce, as its sole remedies, In the event that any action is brought to enforce the rights of the parties tinder this Contract, the prevailing party shall be entitled to be reimbursed for ite attorney’s fees incurred prior to and at trial, on appeal, in bankruptcy, in any arbitration, or in post-judgment collection, together with all costs thereof. . WV, Assignment. Buyer shall not assign ite rights under this Contract without the _ prior written consent of Seller which consent may be withheld for any reason, Any attempt to assign Buyer's vights without consent may be considered a default as provided herein. : a: Entire Contract. It is underatood by Buyer and Seller that this Contract, including the documents listed or meritioned herein, which are hereby adopted by reference as if fully set out in thie Contract, contain the whole agreement between Buyer and Seller and that no ‘representations, verbal, written or otherwise, have been made or relied upon which are not contained - ’ or referred to herein or in the documents described herein. 4. zency | igsions. Seller shall pay a commission to Queen's Harbour Properties, Inc., by separate agreement. Except for the foregoing obligation, Buyer. and '” Seller represent and warrant to each other that no other person or entity is entitled to a commission or other fee in connection. with this sale other than identified in Co-Broker Addendum and each party abali indemnify and hold the other harmless from any and.all claims and charges arising in connectiin therewith. Queen's Harbour Properties, Inc. is paid a fee for services by Seller and represen.te Seller, but also has the legal and ethical duty to treat Buyer with honesty, integrity and fairness. Kuyer acknowledges that this disclosure was made prior to the execution of thie Contract. 10. Egonomic Considerations. Buyer acknowledges that Seller has not made any represezitations or given any assurances concerning any tax consequences of ownership or resale of the Lot or whether, or to what extent, economic benefit might be derived by Buyer due to ownership or resal: of the Lot. Buyer represents to Seller that, to the extent Buyer has an expectation of deriving economic or tax benefits from ownership or resale of the Lot, this expectation has been . induced eclely by Buyer's individual research, the general economic conditions and other factors which hiive been identified independent of any statement or involvement of Seller. : ‘1. - Warranties: This Lot is located in a Planned Unit Development and may be used '.. only for .& eingle family dwelling and related ancillary structures permitted under the Jacksonville ‘Land Use Regulations.. Seller shall complete the roads, sewers, water and electrical service to provide access and utility service to the Lot. Except for the foregoing, Seller hereby specifically disclaims any and all warranties concerning the Lot and hereby agrees to sel]. the Lot as is. Buyer shall. be réeponsible for determining ita suitability for Buyer's intended purposes, including without limitation, the suitability of the soils for construction, and for payment of all costs and expenses in connection therewith. ae ; l2. Pexmits: Buyer understands that (a) Seller has obtained certain permite for the developinent of Queen's Harbour Yacht & Country Club which permits may affect the development and construction on the Lot; and (b) the Department of Environmental Protection, the St. Johns '. River Water Management District and the Army Corps of Engineers have established certain NISTRATIVE COMPLAINT DMINISTR i ee nen PAGE, | EXHIBIT# paces 43 45/16/2881 88:48 98485415983 REMAX PAGE wetland jurisdictional lines over the lots. As a result, all development and construction within Queen's Harbour must be in full compliance with the permits and any improvements or development waterward of euch jurisdictional lines may be prohibited. It is the responsibility of Buyer to investigate whether such permits or jurisdictional lines affect the Lot prior to commencing any improvement or development on the Lot. Buyer shall be solely responsible for any violations of the Permits or jurisdictional lines occurring as a result of Buyer's construction or other activities on the t, 7 1a. Architectural Review. Without limiting any of the provisions of ‘this Contract, Buyer hereby acknowledges that no clearing of the Property or construction of . any imzirovements may be undertaken until all plans and specifications have been approved by the Architectural Review Board of the Association (“ARB”), in. accordance with the then applicable ARB Guidelines. Any failure to comply with the guidelines may | result in legal action including, without limitation, specific enforcement of the ARB Guidelines and fines. 14. Radon Gas. Radon is a naturally occurring radioactive gas that, when it was accumulited in sufficient quantities, may present health rieks to persons who are exposed to it over . time. ' Lavela of radon that exceed federal and state guidelines have been found in buildings in Plorida.. Additional information regarding radon and radon testing may be obtained from your county public health unit. Neither Seller nor and Broker shall make any representation to Buyer concerniiag the presence or absence of Radon Gas in the Dwelling at any time or in any. quantity. Buyer hureby expressly releases Seller and Broker from any loss, claim, liability. or damage now or _ hereafter arising from or related.to the presence at any time of Radon Gas on or about the Property. 1.6. Notices. Any notice required or permitted to be delivered under this Contract shall be personally. delivered or mailed’ by certified mail, return receipt requested, to the parties at the addrese:s set forth in the introductory paragraph of this Contract, and shall be effective upon personal. delivery or three (8) days after deposit with the US. Postal Service. 6; Miscellaneous. This Contract is subordinate to any development or construction _ loans placed.on the Lot eecured by Geller until Cloeing when the Lot shall be released therefrom. This Contract is subject to Florida law. No waiver by any party of any failure or refusal to comply with thi: cbligations of any other party shall he deemed a waiver of any other or subsequent failure or refusal to comply. This Contract shall not be recorded, and any attempt to record same may be deemed a.default. Time is of the eseence. This Contract, the terme and conditions thereof and the performance hereunder, shall be construed and controlled in accordance with the laws of the State of Florida, Hach provision of this Contract is severable from every other provision, and if any provision is unenforceable, the remainder of this Contract will remain valid and enforceable. This Contract shall inure to the benefit of the heirs, devisees, personal representatives, successors and permitted assigns of Seller and Buyer, respectively. This Contract shall become effective upon execution by Seller. [Jpon delivery of the deed all terms and conditions hereof shall merge into the deed, except as ‘specifically eet forth herein to the contrary. . AP Construction Reguirements/Swales. In addition to all other requirements. in conneciion with the’ construction of a dwelling on the Lot, Buyer shall be required to construct any sidewalk on the Lot which is required under the City of Jacksonville Ordinances, which sidewalk shall be completed within twenty: four (24) months from the Closing. In the event that the Lot is a : ad “Harbor Lot” the Buyer is responsible for all maintenance of the banks from the date of Closing. Itvis. furthe:: required that the Buyer shall install “Tri-Loc * or other approved materials to asaure that the bank is stabilized within twelve (12) months from the date of Closing in accordance with the . apecifinations of the ARB. ° ; ‘ ADMINISTRATIVE COMPLAINT exer # fe ae 4 pace __¥ ui EXHIBIT# B sacee 44 85/10/2001 48:48 3848541583 REMAX PAGE 05 2 Farther, pursuant to the permits and in order to facilitate stormwater drainage within © Queen's Harbor, Lots are required to include drainage swales at the front boundary lines and some lots are required to include drainage swales at the rear boundary line. Seller has installed such — awales px ior to conveyance of the Lot by Seller. The deed conveying the Lot will contain a covenant requiring that the drainage swales remain in place in accordance with the drainage plans and requiring the owner of the Lot to indemnify and hold the Seller and the Association harmless from all costs und expenses for violating the covenant and to reconstruct the swales as may be required by _ the applicable governmental agency. ; : 1B. Eserow Agent. Escrow Agent shall receive the Deposit in funds (Escrow Funda") and ig hureby authorized and hereby agrees by acceptance of the Escrow Funds to deposit them -' promptly, hold them in escrow and, subject to clearance, disburse them in accordance with the terms _ and conditions of this Contract. Failure of clearance of funds after deposit shall not excuse Buyer's _ performznace hereunder. . Upon written notice to Escrow Agent by one party that the party claims the Escrow Funds by virtue of! the other party's default under the Contract, Escrow Agent shall notify the allegedly _ defaulting party of such claim by Certified Mail, Return Receipt Requested. Such notice shall. be deemed 0 have been received by the allegedly defaulting party on the third day after Escrow Agent deposits’ such notice in the United States Mail (Notice Date"). If the allegedly defaulting party has not notified Escrow Agent within five (5) business days from the Notice Date of the allegedly defaultirig party's denial of the allegations of default, Escrow Agent is hereby authorized to pay the Escrow !‘unds to the party making the claim therefor, If the allegedly. defaulting party makes such notification to Escrow Agent, Escrow Agent shall proceed under the following paragraph of this ‘ ‘Escrow iAgreement. Upon payment by Escrow Agent to the allegedly non-defaulting party, all liability on the part of Escrow Agent shall fully terminate, except to the extent of accounting for any items previously delivered out of escrow. _ : ; Ifin doubt as to.ite duties or liabilities under the provisions of this Contract, Escrow Agent may,.at its option, continue to hold the Eecrow Funds until the parties mutually agree to their _ disbursement and eo notify Escrow Agent in writing signed by both Buyer and Seller, or until a judgmenit-of a court of competent jurisdiction shall determine the rights of the parties. Alternatively, Escrow Agent may deposit the Escrow Funds with the Clerk of the Circuit Court of Duval County, Florida, snd is hereby authorized to pay from the Escrow Funds the costs of filing such activa, including reasonable attorneys’ and paralegals’ fees and costs. Upon notifying all. parties concerned of such action, all liability on the part of Escrow Agent shall:fully terminate, except to.the extent of | accounting for any items previously delivered out of escrow. . ‘In any suit between Buyer and Seller wherein Escrow Agent is made a party because of ' acting ue Eecrow Agent hereunder, or in any suit wherein Escrow Agent interpleads the Escrow Funds, ecrow Agent shall recover ite costs, including reasonable attorneys’ and paralegals’ fees and ~ costs inirucred with the fees and costes to be paid from and out of the Escrow Funds or equivalent and chargec) and awarded as court costs in favor of the prevailing party as between Buyer and Seller. ’ ‘The paities agree that Escrow Agent shall not be liable to any party or pereon for misdelivery to Buyer or Seller of items subject to this escrow, unless such misdelivery is due to willful. breach of this ‘Contrant or gross negligence of Escrow Agent. . . 19. Inspection of Lot and Revocation Privileges. Buyer hereby certifies that Buyer has inspected the Lot on or before the date of execution of this Contract. This Contract may be terminated by Buyer within seven (7) business days from the date of. execution hereof by Buyer. In the event that. Buyer. elects to terminate this Contract as provided in this paragraph, all funds or other property paid by Buyer shall be refunded without penalty or obligation within twenty (20) days - ‘of the yeceipt of the notice of caxicellation by Seller. : , ; PAGE Su oF power Oo eacea 4S” ; @5/18/2081 68:48 9848541583 REMAX ADDENDUM TO RESIDENTIAL LOT CONTRACT OF SALE’ QUEEN’S HARBOUR YACHT & COUNTRY CLUB m FINANCING CONTINGENCY ; THIS ADDENDUM, TO RESIDE IAL LOT CONTRACT OF SALE executed this . day. of Match, . , 200__/_ (‘Contract’), is made by and between QUEEN'S “ HARBOUWE YACHT & COUNTRY CLUB, LTD. (“Seller”) and ; ‘ a CSeller’) and _——Lyelyn Y plese C’Buyer”). for Lot _/ / of QUEEN'S HARBOUR YACHT & COUNTRY CLUB, UNIT 2S Lot’). ; I ia agreed that Buyer’e performance under the Contract is contingent upon Buyer being approved, t obtain a mortgage loan. On or before ten (10) days from the date of execution of this Coutract, Buyer shall apply for a mortgage loan with the lender of its choice (‘Lender’). Buyer shall ’ ptomptly provide all documentation required by such Lender. The loan shall be in an amount not greater than ninety percent.(90%) of the purchase price (“Loan”). Cince Lender bas approved Buyer's application for the Loan, this financing contingency shall be deemi:d satisfied and Buyer and Seller shall be bound by all terms and conditions of the Contract. ; Jf Buyer is not approved by Lender within thirty (30) days from the date of application, Seller may, in-ite sole discretion, (a) terminate this Contract and return the Deposits to Buyer, and this Contract: stall be of no further force and effect; or (b) direct Buyer to apply for a Loan from a Lender of Sellex's choice, and Buyer shall make application to such Lender within five (5) days from notice from Seller. If Buyer is not approved by the Lender selected by Seller within thirty (30) days from . application, then this Contract may be terminated by Seller and the Deposits shall be returned to Buyer. a . Provided, however, if Buyer fails to make application as provided herein, fails to promptly : deliver ‘:he information as may be required by Lender, undertakes an action or course of conduct which cauees Lender to withdraw its approval or otherwise fiiils to cooperate to obtain financing, then in such event, Buyer shal! be deemed in default under the Contract, and Seller shall be entitled. to retain Buyer's Deposits and all Buyer's righte under the Contract shall be terminated, and the . Contract and this Addendum shall be of no further force and effect. ‘Buyer shall pay all costs of obtaining and closing on the Loan. SELLER: BUYERG@): QUEENS HARBOUR YACHT & _ COUNTRY CLUB, LTD. — ; . J, Thomas Dodson, Jr., Presidefit Dated’ a ZF /Ze, A] Dated: a) 3-4) ‘Of By: | Queen's Harbour Yacht & Country Club, Ine. ADMINISTRATIVE COMPLAINT EXHSIT jf J PAGE a ve Hang 6 paceg 4 = aaaes s _ JS. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SETTLEMENT STATEMENT Holland & Knight LLP 50 North Laura Street, Suite 3900 Jacksonville, Florida C. NOTE: B. TYPE OF LOAN . ] pe 2 () ron 3. LX] conv-unins. «wu s. [7] conv.ins. 6. FILENUMBER: 7. LOAN NUMBER: 32202 J01-0158 8. MORTGAGEINS. CASENO: This form is turnished to giv you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items: “(p.0.c.)" ware paid outside the closing; thay are shown here for informational purposes and are not included in the totals. 20017003494 I> D. NAME OF BORROWER; GARRY A, BONDS, unmarried person ADDRESSOF BORROWER: 1187 Old Buckrde Road, Hampton; VA 23663 E, NAME OF SELLER; QUEEN’S HARBO ADDRESSOF SELLER: partnership UR YACHT & COUNTRY CLUB, LTD., a Florida limited 13361 Atlantic Boulevard, Jacksonville, Florida 32225 F. NAME OF LENDER; THE HUNTINGTON NATIONAL BANK ADDRESSOF LENDER: 41: SOUTH HIGH STREET COLUMBUS, OHIO G. PROPERTY Lot 14, QUEEN’S HARBOUR YACHT & COUNTRY CLUB, UNIT 25 LOCATION: 1728 Dover Hill Drive Jacksonville, Florida 32225 H. SETTLEMENT AGENT: HOLLAND & KNIGHT: LLP PLACE.OF SETTLEMENT: .. » 50 North Laura’Street, Suite 3900 Jacksonyille;:Florida 32202 |. SETTLEMENT DATE: May 25, 2001 ——— J SUMMARY OF BORROWER'S TRANSACTION K. 100, GROSS AMOUNT DUE FROM BORROWER: 101. Contract sales price 102. Personal property = 1400, GROSS AMOUNT DUE TO SELLER!” 229,000.00 {401, Contract sales price 1402. Persona! property SUMMARY OF SELLER'S TRANSACTION 220,000.00 103.: Settlement charges. ta borrower: 403. (tony fine 1400) 11,452:30 104, 404. 105: Ae : : : 140s. ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE: 106, City/town taxes to 408. City/town taxes to 107. County taxes 5/25/01 to 1/1/02 415.84] 407. County taxes 5/25/01 to 1/1/02 415.84 108. Assessments: to 408. Assessments to 109. 409, 110, 410. 1, 411, 112. 412. 120. GROSS AMOUNT DUE FROM BORROWER: P| 231,868.14 |420. GROSS AMOUNT DUE TO SELLER: >} 220,415.84 200, AMOUNTS PAID BY ORIN BEHALF OF BORROWER: 201. Deposit or earnest money 202, Principal amount of new loan(s) 203. Existing foan(s) taken subject lo ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: 210. City/town taxes to 211. County taxes to 212, Assessments to 213: 214, 215, 216, 217, 220. TOTAL PAID BY/FOR BORROWER: > tes 300, CASH AT SETTLEMENT -FROM/TO “BORROWER: | 301. Gross amount due from borrower (line 120) S01. Excess deposit (see instructions) 204,395.40 |602. Sottieriant charges to seller (line 1400) 503. Existing loan(s) taken subject to 504. Payoff of first mortgage loan TOI 505, Payotf of second mortgage loan PEOPL 510. CityAown taxes to 511, County taxes to 512. Assessments to BIB E 514, 515. 516. S17. 218. 518. : 219. 519. 520. TOTAL REDUCTIONS IN AMOUNT DUE TO SELLER: 204,395.40 231,868.14 601, Gross amount due to seller (ine 420) 302. Less amount: paid byMor borrower (line 220) 303. CASH ( [X] FROM) ( [_] 70) BORROWER: p| C2 204,395, 40) 27,472.74 603. casH ((] TO) ( [] FROM | REDUCTIONS IN. AMOUNT DUE TO SELLER: ADJUSTMENTS FOR ITEMS UNPAID BY SELLER: 00. CASH AT SETTLEMENT TO/FROM SELLER: (602, Less total reductions ‘In amount due seller {line 520) ( SELLER: > 44,191.50 26,224.34 150,000.00 hm) 220,415.84 220,415.84 220,415.84) Form No.: PTS-HUDI aN OMB No 2502-0265 fF Payoff(s): TDI PEOPL PEOPLE FIRST COMMUNITY BANK coal exnisita [1 pasee St TEN DUVAL, INC., a Delaware Corporati HUD-1 (3-88) RESPA,HB 4305.2 FAGF1 ADMINISTRATIVE COMPLAINT L SETTLEMENT CHARGES 700, TOTAL SALES/BROKER'S COMMISSION: $ @ %e PAID FROM PAID FROM ane = BASED.ON PRICE _ < BORROWER'S SELLER'S 1 OUDIVIBION OF COMMISSION (INE 700) AG FOLLOWe: , FUNDS FUNDS 7016$ 9,000.00 to. Queen’s Harbour Properties, Inc. AT AT 702, $ 30,000.00 to Remax Realty SETTLEMENT SETTLEMENT 703. Commission” pald ‘at settlement 39,000. 00 704. S00. \TEMS PAYABLEIN CONNECTION WIT LOAN: 801. Loan Origination fee 1 %:. to THE HUNTINGTON NATIONAL BANK 1,980.00 802, Loan Discount % 803. Appraisal Fee to: 804, Credit Report to: POC to Equifax (.85) 805..Lander's Inspection’ tea 808. Mortgage Insurance application: fee to 807, Assumption’.fae 808. Mortgage Broker Fee to Signature Home Equity 4,415.40 809: 810. 811, f ook ; DIN:ADVANGE: 901, Interest from to es iday: T. 902, Mortgage insurance premium for mo. to 903, Hazard insurance premium’ for: 12: moto 904. Flood Insurance Premium for _ 12 m0 905. 1000, RESERVES DEPOSITED WITH LENDER; = 1001, Hazard insurance months @ $ per.month 1002, Mortgage insurance months @ $ per month 1003, City: property taxes months @ $ per month 1004. County property taxes months @ $ per month 1008: Annual assessments months '@ $ per month 1006, months @ $ per month months. @ $ Per month months @ $ per month 1101. Settlement or closing fee to HOLLAND & KNIGHT LLP 1102.: Abstract or tite: search to. Cd Republic National Title Insurance Company 1103. Title examination to. HOLLAND & KNIGHT LLP 1104. Title insurance, binder’ to 1105. Document preparation to Express Typing Service 1106. Notary fees to . 1107. Attomey's fees to . (includes above items Numbers: ) "108: "Tile insurance to Holiand & Knight LLP/Old Republic Title Co. (includes above tams Numbers: E 1109, Lender's coverage $ 204,395.40 9110, Owner's average $..220,000:00 1111. Florida Form 9 Endorsement to Holland & Knight LLP/Old Republic Title Co. 1142."Alta Endorsements: 8:1 5.1 to Holland & Knight LLP/Oid Republic Title Co: 1113. +1200, GOVERNMENT RECORDING AND TRANSFER CHARGES: - 1201. Recording fees: Deed $ 10,50 ; Mortgage:$ © 24:00 } Releases $= 29 50 40.50 16.50 1202. City/county tax/stamps: Deed $ ; Mortgage $ 1202, ‘State tax/stamps: Deed $1,540.00 + Mortgage $715.40 855.40 1,400.00 1204. Intangible Tax to Clerk of the Circuit Court 408.79 4208. 1301. Survey to Richard Miller & Associates 200.00 1302. Pest Inspaction to 1303.. Refund of Down Payment to Evelyn Y. West 1,000.00 1304. Landscape Reserve Lots 14 and 24 to Queen's Harbour Yacht & Country C 1,000.00 1308. Assmt. $395 (5/25-9/30) to Queen's Harbour Owners:Association 555.21 1306. Initial Captial Contribution to Queen’s Harbour Owners Association 750.00 1307, Additional Charges. as per attached Schedule ‘A 1822.00 500.00 1,075.00 1400. TOTAL SETTLEMENT CHARGES (Enter on line 103, Section J - and - line 502, Section K) > 11,452.30) 44,191.50 brats Garglully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief, Its @ rue and accurate siaiement of all receipts and diabursemonta made oa my account or by me in Unis transaction, | further certify that | have recelved a copy of HUD-1 Sottlement Statement. GARRY A. A QUEEN’S HARBOUR YACHT & COUNTRY CLU Borrowers : Sellers By: J. Thomas Dodson, Jr., President The HUD-1 Settlement Statement which Prgpared te @ true and accursta account of this transaction. | have caused ‘or will cause the funds to be digbursed In accordance with this staiement. 1 t Settlement Agent vi —_ Date _ May 25, 2001 Shargn Strayé?téarch File No. — JQ1-0158 WARNING: ttis a crime to knowingly make fatse statements to the United States on this or any other similar form. Penalties upon conviction >an Include a fine or Imprisonment. For detalls see: ‘Title 18 U.S, Code Section 1001 and Section 1010. cvenats ir PAGES SS Form No.: PTS-HUD? ATIVE COMPLAINT. ENT BY: TITLE CLEARINGHOUSE; $04 992 1024; APA-10-01 3:40PM; PAGE 1 wees voewee wewivmy Trias ce UViRMnANENUVen, wOON; CRUE © Mar-20-01 04:07P WY NS P02 _ A ; ~ 3 : > = ipghy a. 2 PURCHASE AND SALE AGREEMENT AND DEPGSE-RECEINT > 1 it SUGGESTED FOR USE BY THE MEMBERS OP fife io NORTHEAST FLORIDA ASSOCIATION OF REAL . ys Rpatrore® panties_~ | on PeAe } : | or \eS “ruven, and nek(2) of N (SELLER), which terms may be singular or plural and include the Successors, personal representatives and assigns of SELLER and BUYER, hereby agree that SELLER will sel and BUYER will buy the following property ("Property’}, upon the toliowing tarms and conditions if completed or marked, ITI of terms or conditions, thal which is added will supersede that which ia printed or marked. The Property is in fa ee County, Florida and is described as follows (it lengthy, attach legat description): DORESS: 7 tba Steet “oreo ye aa Zip 3 it ig understood that the Property will be conveyed by GENERAL WARRANTY DEED (unless otherwiee fequired herein) subject to currant taxes, axisting zaning (uniess specified otherwise in Paragraph 12), covenanis, restrictions, and easements of record, 1, TOTAL PURCHASE PRICE to be paid by BUYER is payable as follows: (A) Binder daposit, which will remain a binder until closing, unless sogner forfelied 0) returned 500 according to the provisions of this Agreement... uid LA fo ALAMO nn $___ IVY s _ vi days after acceptance of this Agreement........ s_. D (C) Balance due at cloaing (not including BUYER's closing costa, prepaid items or prorations) by cashiers, official or cartitied check ot wire transfer. . @PPPOX__ yen actly. (D) Proceeds of naw, note and mortgage to be executedby BUYER to any lender other . than SELLER bolic. Delain: Le Lak) LV {E) Purchase money morgage and note to SELLER on terms set forth In paragraph 2C (8) Additional binder deposit due within (F) Existing mortgage balance encumbering the Property to be assumed by BUYER (approximately) Mortgagee Loan# int. Rate —__ PI exactly. xX s_£0,00©_ 00 —-——-— {G)TOTAL PURCHASE PRICE .. one PPLOK_____ FINANGING: if BUYER does not obtain the required financing bul otherwise complies with tha terms hereot, he binder deposit, hk and Joan processing costs Incurred, wil! ba returned to BUYER. (A) APPLICATION: Within days of the date of acceptance of this Agreement, BUYER will make application for financing, Pay lender for sppraisal and credit reports, instruct fenders to order same withoul delay, and timely furti ny and all credit, employment, financial and other intormation required by lender. Unless the mortgage loan Is approved within days of date of acceptance of this Agreement, without contingencigs, except those pertaining to the Propeny which are required tor losing, such as Marketable tile, wood-destroying organiem Inspection and Survey ag required by this Agrooment, SELLER or BUYER will have right to terminate thig Agresment, and BUYER will return to SELLER all titlo evidence ang surveys received trom SELLER, 1. ] FHA: “It is expressly agread that, Notwithstanding any other provisions of this Contract, the PURCHASER shall no! be obligated to complete the purchase of the Property described herein or to incur any penalty by fortelture of eamest money deposits or otherwise unless the PURCHASER has been given In accordance with HUDIFHA or VA requirements a written stalement by the Federal Housing Commissioner, Department of Velaran Altairs, or a Direct Endorsement lender setting forth the appraised Hue of the Property of not less.than$ The PURCHASER shall have the privilege and option of proceeding with. consummation of the Contract without regard to the amount of the appraised valuation. The appraised vatuation is arrived at to ine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does Hot warrant the value hor thé\condition of tha Properly. The PURCHASER should Satisfy himselt/herseit that Ihe price and condition of the Property ave acceptable,” have the privilege and option of Proceeding with the consummation of ths Agreement without regard to the amount of lablizhed by the VA. (8) [ SUMPTION; BUYER understands that loan interest is [ } variable [ 4 fixed. if mortgagee approval of BUYER Is requ! d for loan assumption, BUYER will within days make required application and timely provide qualitying regbied by lender. BUYER's obligation to close is contingent on lender's approval of the assumption within days of the date of adceptance of this Agreement. (C) { J SELLER: The balatce due SELLER will be evidenced by negollabis promissory note of BUYER, secured by valid purchase money ~ Mortgage on he Property and delivered by BUYER to SELLER dated the date of closing, bearing annual Interest of per month for{ j __ years[ } Months. Privilege of prepayment { } does apply[ | does not apply. Theby will be a 5% late charge on any installment not received within 10 days of its due dale.The mortgage wii be[ j due on sale { } not tue on saie of Property. Within Gays aher date o! acceptance of this Agreement, BUYER will furnish all credil, employment financial information feasonably required by SELLER, SELLER will within ane OBE afer receipt of the Information, deliver a ‘writen decision to BUYER as to whether or not SELLER will make tha mortgage loan ("Loan 3. LO88 Of DAMAGE: IF the Property Is damaged by gry casualty prior to closing, and cost of restoration does fot exceed 3% of the assessed valuation of the Improvements on the Property, cost of restoration will be an obligation of SELLER and losing will procaed pursuant to the lerms of this Agreement with cost thereto escrowed al closing. in ihe event the cost of repair or restoration exceeds 8% of the assessed valuation of the improvements and SELLER declines to repair or restore, BUYER will have the option of either taking ihe Property as is, together with either the said 3% or any insurance proceeds payable by virtue of such loss or damage, of of canceling this Agreement, Page 1014 Copyrighted by tne Northeast Florida Association of REALTORS®, Inc. Saie 08/00 : Pete 1 esceg [SU 7 A IVE COMPLAINT PAGE INT BY: TITLE CLEARINGHOUSE; $04 992 1024; APR-10-01 3:41PM; PAGE 2/5 -20-0 : i Mar-20-01 04:08P YO P.0om 4. BUVER WILL PAY: (A) GLOSING COSTS: [}G Recording fovs LXL.Note stamps 18 intangible tax Ww Credit repon{s) {_] Mortgage transfer and charges _[T | VA tunding fees {i Mortgage originaton fea [X] Morigage insurance premium [} Clones siomoy/setioment foo { | Courier fees { } Transactio: ministrative fee i] Mortgage discount not to exceed _ [ ] Wood destroying organism report [X] Appraisal fee | ]Survey{ ] Tax service [ [Doc prepisef } Home warranty [' QL pore Policy [ } Title search and exam fee {1 } Title insurance endorsements ( } Underwriting F er, (8) Alother charges required by lender, unless prohibited by taw or regulation, ({C) PRBPAIDS: Prepaid hazard insurance, taxes, interest and morigage insurance premiums, required by the lender, 5. SELLER WILL PAY: 1 (A) CLOSING COSTS: |X Deed stamps [Y/) nek Tile insurance policy KJ Title search and exam fee fK) C ig attorney/settlement fee Courier feus( } Transaction/Adminisirative fee \«) Underwriting Fee (yd Food Centification Fee Rea) estate brokerage fee [ } Mortgage discount not to exceed . weer Satistaction of mortgage and recording fed [\] Survey [x] Doc Prep fee { | Repairs or leplacamants, in addition io those in paragraph 15 {C), not to exceed —-—--_—__ —__-—....__. | ] For VA sale only, wood destroying Organism report [ ) Appraisal fee (Al Tax service {X] Title insurance endorsements [ } Home warranty { ] Other . . _. . (B) Ail other charges required by lander which BUYER ts prohibited from paying by law or regulation, (C} al morgage Payments and condominium and association fees and assessments wil! be current at SELLER's expense at the time of closing. {D) SELLER will deliver satistactory proof that BUYER wil! not be obligated to withhold any of the purchase price under the Foreign invesiment in Real Property Tax Act or shall provide funds at closing to enable BUYER to meet the tax obligation. ] Flood Cartification Fea 6. PRORATIONS: Ail laxes, rentals, Condominium, association lees and interes! on assumed mortgages will be prorated through day before cfosing. If part of purchase price is lo be evidenced dy assumption of a mortgage requiring deposit of funds in escrow for payment ol taxes, insurance oF other charges, BUYER agrees to reimburse SELLER for the escrowed funds ausigned to BUYER at closing, ! 7, NON-DEFAULT PAYMENT OF EXPENSES: {A) IF BUYER fails to perform, but ie not in default, all loan and sate Processing and closing costs incurred, whether the same were to be paid by SELLER or BUYER, wil! be the tasponsibllity ot BUYER, with costs deducted from the binder deposit. This will include but not be limited to the transaction not closing because SELLER elects not to make the mortgage fo BUYER as provided in Paragraph 2 (C) of this Agreement or because BUYER does not obtain the required financing as provided in this Agreement or BUYER invokas BUYER's tight to terminate under any other contingency In this agreement. (B) if SELLER falls to perform, but is not In default, all (oan and sale processing and closing costs incurred, whether the same were to be paid by SELLER or BUYER will be the responsibility of SELLER, and BUYER will be entitled to the return of the binder deposit. This will include, but not be limited to the transaction nol closing because SELLER is unable or unwilling to compiete the transaction for a qualilied BUYER, or because the Property does not appraise for an amount sufficient to enable the lender to make the required toan, or because SELLER elects not to pay for the amount in excess of the amounts in paragraphe 3, 5, 15 (with respect to repairs and/or beatment), or because the zoning is not as required in paragraph 12, or because SELLER cannot detiver a marketable litte, 8. DEFAULT: tf BUYER defaults under this Agreement, alt deposit(s) paid and agreed fo be paid, after deduction of unpaid closing costs incurred, will be retained by SELLER as agreed upon liquidated damages, consideration for the execution of Ihis Agreement and in full sattiemant of any claims, whereupon BUYER and SELLER will be relievad of all Obligations to each other under thia Agreamant. it SELLER defaults under this Agreement, BUYER shall seek specific performance or elect io receive Ihe return of BUYER's Geposit(s) without thereby waiving any action for damages resulting trom SELLER's defauit. Binder deposit(s) retained by SELLER as liquidated damages will be distributed pursuant to the terms of the listing agreement. 9. WAIVER OF JURY TRIAL: All controversies and ciaims between BUYER, SELLER or Broker, directly or indirectly, arising out of or tolating to this agreement or this transaclion will be determined by non-lury trial, BUYER, SELLER and Broker, jointly and Severaily, knowingly, voluntarily and intentionally waive any and all rights to a trial by jury in any litigation, action or procesding involving BUYER, SELLER or Broker, whether arising directly or indirectly trom this Agreement or this transaction or telating thereto. Each party will be liable far thelr own cosis and attorney's fees. Notwithstanding the foregoing, in the event of @ dispute between BUYER and SELLER as to entitlement to the binder deposil(s), the holder of the binder deposit(s) may file an interpleader action in accordance with applicable law to determine entitlement to the binder deposit(s), attomey’s fees and costs, or the broker holding the binder depasit(s) may request the issuance of an escrow disbursement order from the Florida Real Estate: Commission and in either event, BUYER and SELLER agree to be bound hereby. 1O.TITLE EVIDENCE: Within (X J 10 days after gate of acceptance or { } days after date of Loan Approval wilhout contingencies other than thase commoniy found in instititional loan approvals, SELLER will deliver to BUYER Or closing attormey: {\_)] Tite insurance commitment for an owner's policy in the amount of Ihe purchase price [_] Title insurance commitment tor mortgage policy in the amount of the new mortgage. Any expanse of curing title defects such as bul nal limited to legal tees, cischarga of liens and recording tees will be paid by SELLER. 11 SURVEY: Within ial 1Q_ Gays after date of acceptance or[ ) days after date of Loan Approval without contingenciss other than those commonly tound in institutional joan approvals, SELLER will deliver to BUYER or closing attorney: {X] A new staked survey dated within 3 months of closing showing all improvements now existing hereon and certified to BUYER, lander, and the title insurer, [ ] A copy of a previously made survey of the Proparty showing all improvements now existing ppereon. I } No survey is required, : <4 \ 12,.p\) ZONING and RESTRICTIONS: Unjess the Property is zoned wELAGT and can be legally used for a a 8 rr or if there Is notice of proposed zoning changes or dead of other restrictions ihat Could prevent such use at the lime of closing, BUYER will have the righ! to terminate this Agreement. BUYER will have 10 days trom date of acceptance to verity the existing Zoning anc current proposed changes, and deliver written notice of objections to SELLER or be deemed to have waived objections, 13, TITLE EXAMINATION AND TIME FOR CLOSING: (A) Sttite evidence and survey, as specified above, show SELLER is vapieg with etable title, the transaction will be closad and the deed and other closing papers delivered on or before lx { ] days atter date of accepiance Ct days after date of Loan Approval dnd satfetaction of conditions in paragraph 18, if any, unless extended by other conditions af the Agreement. Marketable title means title which a Florida litte insurer will insure as marketabie at its regular rates and subject only to matters to be cured at closing and the usual exceptions such as survey, Curent taxes, zoning ordinances, covenants, restrictions and easements of record. Page Zot 4 Copyrighted by the Northeast Florida Association of REALTORS®, Inc, Sale 0e/00 exunty IF races S3 3 2s je) oO Nive 4 pay cry Ol. b4sUG ULEANANUNUUDL wud ye 1Ud4; APK-1U- 334¢ } RECEIVED: 3/20/01 4:12PM; ->TITLE GLEARINGHQUGE; #570; PAGE 3 OT 9542PM; PAGE 3/5 _Mar-20-01 04:16P Vo 1 SY P.O3 03/10/01 12:37 FAX 9047994715 PRULNST REALTY go08 - 9248541562 REMAX ON PARK PAGE 83 83/19/288) 16:68 = (8) Mf tite evidence oF survey reves! any defects which render the tiie unmerketsnte, BUYER will have sqven (7) days from ceoeipt oft ite Tr, and aurvey to notiy SELLER of such ite detects and SELLER agreve to use reasonable dilipence t.cure euch dalects st « ahd til have 30 days t6 €o 80, In which event this tansaction wil be closed within ton days sitter delivery to e IgVe been ured: SELLER agrevs to pay for snd discharge al! due and taxes, lens tharwise epresd, if SELLER |p unabis to convey to BUYER a marlieinbie tfis, BUYER will have the . pent, at the same time retuming lo SELLBA all Ute evidence and auiveya (eoetved.trom SELLER, oF ‘BUYER will frave the right to scoept Buch ite as SELLER may be able to convey, snd to clase thie transaction Ypon the terms stated : |; herein, which election wall be exercised.within ten (10) days from notice of SELLEA's inability to cure.” ; _ PROPERTY DISCLOSURE: SELLER dose hereby represent that SELLER has legal authority and capacity fo convey. the Property with ell 3 no knowledge of facts matenally effecting the value of the Property other then thous _ SmLLER wil’ tat pe Prior to Cloning Subject io & munkipel oF county code enorcemant procesting : - Of the. “Broparty. Is or bocommve subject to suoh'l procewding pric to GELLER shall comply with Porkda Steluies 126.69 aaa hae: “snetwithatend! Aning contained within suid Btatuies, SELLER shall be responsible for compliance win apploabls code and’ all ordery eding uNnieks otherwike agreed herein). Jancyt In accordance with Florida Statute 553.996, notice ls nereby given that the BUYER of teal propery with a building foisncy reling defermined. BUYER. wcknowiedges receipt of ine , of Florida at the time of oF prior o BUYER signing this Agreement, pure: Radon gas Is a naturally occurring radioactive gas Wal, whan It hee accurnyiated,in a buliding in aufficient quantiles, may: resent health: Hake to parmons whe are spewed tit owe Ue. of radon that exceed federal and state Ines helve been Found in buildings in Florida. Accdiipnat intornation regarding -tedon testing may be obtelned trom yaur county (0) Flood Zohe:. BUYER. 's adtleed to ‘verity with the lender and appropiate goverment agencies whether ftéod Insurance & require! ’ ‘apply t Ii he end rebuilding in the avent of casualty. . PECTION AND Fi ry 4 will maineain the Property in ft Present condition unit] closing, except for normal ee sca by te conduct inspections as dseoribed below. tt ia agreed thet the'casts of inspections by the BUYER are-sxenpt from the termes In Paragraph 7 of thie Purchase and Gate ia by the: BUYER regardiesn of the outcome of this Agreement, 1 BUYER falls to timiity conduct any tied to make uncer this psragraph 18, BUYER waives the right to conduct the inspection and eccapts * candkipn, emcept ax provided in paragraph 18{C) below, BUY! Fi wil repair af damages to the Property pre-iaspection mt, rong I end retum: the Property to its . . oat (1) Profesatoind) Inspection: BUYER may, within 1 afer acceptance bf thia Agreement, inspact the Property or.have the ingpacted by 6 professional! inapector who sp! in home Inspections and holde an occupatonat, Nounes.for such or wh holds @ Florida license to bulld, repair of maintain the iter | , The * inspection will be condycwo appl ‘cooling, mechanical, election! and Sumbing systems; and poot equipment (if any) wept. (0) She main structure and the 100t and pool {if pny) sre nt: (c) the roof on the main structure has & remaining economic Iie pt two (2) years or any longer period The Protarional Sndition” mearie operating in the manner in which the om was designed to operate. Th “ ine weiter gentho' cHlons do not a! the » BuO! but not limited tc, tears, wom app 2nd didcoloration f Rout coverings, wallpapers, or window treatments, niall holes, soraiches, dents, sorapes, chips ent caulking rj bathroom.caving, wali, flooring, Ue, {tures of mirmra, end minor cracks in windows, driveways, sidewalks, decks, parage re and palo floors, BUYER must, within fifteen (15) dave ater soceplence of thie Agrmernent, deliver wittien notice of any items "01 which are notin the Condition required and.m qopy of fre inspector's written report, Hany, to SELLER. .. (@) Broker's Notloes Neliner the. Usting Broker nor Spiiing Broker warrant Ge condih’ thd Property-ahd either 49 Jistte'to either "party in any manner whatsoever for that condition. Therefore, BUYER and SELLER release and hold nermisse said Brokers and their fe claim, eee of damege arising out of oes reget et respect to the condition of the Praperty, then only as Is necessary to Ding those Heme fo the condition required, unless otherwise sel forth in this Agreement. " @bl gauon to pey for repatre-end replacements. ace limited to the amount shown In paragraph S{A) of this: Agreement. SELLER, -within 195 10) dava after receiving BUYER's written notice ot repeirs and BUYER's joen spproval, t applicable, wil have * cepaing made inia workmanlike manner by an appropristely koensed person... auch coats exceed the émount specified in paragreph . and may. . ‘ tae refusal to pay by giving » nating te the SELLER, or be deamed to have siected to proceed with the Imneadtion, in which evan( (IUYER will receive credit at dloying of an amount equal to the total of the SELLER's tepelr mit in paragraph SiA), it . lewed by lender. It pronipited by lender, SELLER wil accomplish the recuirad ra and BUYER Wil pay excess amount to SELLER: . | @Gioaing. To secure the BUVERTa oblpeten to pay te nee i SELLER, BU ! Binder) with ihe Broker in the 4 which, wher added to ie amount to De paid Dy SELLER, will equal cost of the reps hrepod kispected-by 9 Florida Cartier Pest:Contro! Firm to determine wheter there of the foregoing, BUYER aie Len waitin tye (dave D Tumishing ° @ 1 E v p tun 8 COR) trom recalpt of fan's report within which to have ay puch Nesod-eatoy i Neral Noninacter, ‘a Hleeneed duikding or g a, . a ‘exnisrta LS paceg (SY WioBs 121Ce ULEAn.NuMUUST 5 BUG YYZ 1UZ4; AMN-lu-Ul aiwarm> PAGE 4/5 MAR. ~21' 01 (WED) 15:02 LA MARL.ANG TEL: 407 X_/6518 P. 002 Mar-20-92 03-498 P08 BUYEA wii D8 otv9n pocupancy a1 __l occupancy 18 10 be oelverea pier }0 closing, BUYER ausumes all new 01 566 nil be rerponsbbie and Sabis fur maintenance of the Property trom eats cals, avd oh Me Property, ras! End persanal, in 22 existing condivion aa of ma of laking OocUpAnoy Unaed once May contre in powmeencn folowing Cleaing uniags Ctharwae agregs in Weiing. AL property Aol included ja ‘ale wil Bu rarnoved by fave of 17, PENSONAL PROPERTY: laahed iinet controls, drapery hardws) ached lighing sau ‘on ie Property. and ineze scdkional lieu; __ 227 eitad 19 BUYER al closing, Property mii bb swepl clann end ait perenat asap, price are al foe equi Lg Gone y Henea, is pletth aca aue-ty... err ne heme spect wn rr te harem ALOAT Eo Saar eepenanereeeere DITIONS. teal 6.0, om) £4. ral ‘eras se cl e st lanpe ts -allbasad by Loch 2. ABACti an — /MIBOMLLANEOUSs hey pines ledge recela! of & copy of thie Agreement; the) she terms of 61 (BORWNG Cr retled On ery TeBrEROATONS by Broker oF any inormalicn sheel. Ws! are nex enarensed Wy INE AGteemerd, R wr Broke: unter Incorporated Into this Agreameni, Wit Agron nd dalivarad by the pany ID be bound, Handwrlllen oF ; Woenrften terme inserted In oy meached 10 ind Agreement prevail aver preprinied larmp. Signelures, corwmumissied by incaimile will be cermidered as original, I pry provicion of Ml Apresmtent mor becemay invata oy unenhstpeadie, af) Tallon 10 advise surpunding neighbory who wit be tha new owner of this Property. raier io persone Heaneed to eof raat progeny i fw Siete of 21. HOMEOWNERS ASSOCIATION DISCLOSURE! I! apptoabie, cae homeowners pesociation Gacisiure summery aiteshes herein and (neomeraied herein by ihie elerence. Buyer shell or sign Mis Agrewmard unl Buyer has recalved an (ea ine aierlosee summary, TUN WINING INCLLDIND EAI RENVESN TUE URNS oe ee reer Mane eae OMNCAT EO Sate PHA Lh BASS BETWEEN THE DAR : 42. BECROW OISCLOBURE: The Paniet totes trai Broker may place sécraw funds In an frtoren: bearng account puruani 40 Ine (ules and Tapulaliona 4 the Fords Raul Estaie Commision and phi any Interogt eamed as the cow) meeaciing wilh maintenance a Baio eacrow, Ol re —_—, SOC, 8£C.5 DATE SELLER SOG.SEC.# DATE Spagna ee — BLVER BOC, SEC.1 CATE SELLER 806, 81 OAYE sepia! ma in mis emer & pigs Srokere consent to be boune by the provtions “ Paragraan 8 above, Broker, by eignaiwro beicw, a jo re 1} cash. check, a binder deposi, whieh Is Lhe amour apeciteg Wh paragranh ((Aj ‘st thi Agresmerd, 4 wit ba Ceposkad and hele In becrow: dist MOTH BCECTEING 10 terme boreal, logeiner Win sit additions! binder capone eecrowed ierya Gl ini Agra pm Ch }. - A adhe His bes Seles Manan ey By Tite BROKRA'S PER; SELLER agrees io Mating Stoker nemsd Delow according Jo the terms of an exteiing the end OF 84 MuNvelty agreed {n thie Aprasment, na % oF tole purchase peive pe $< y Baling Broker e commision af =~ ai Wiad. 59% iNerwol, % ol ahar deduatien of costa, wil ba pal lm kK #0uM Pakd 10 Keling Byower wit no! Wine Garesction dows nat ceas z= telure @ pertorn, LER vill pay tha hull Jen jo Hoke: on demend, {1 any Rigelion artaing ovi of wie ry = Sronar's {eo, Bach pany All be Hable for Bihorey's leej = fi “i -_—_—_— oO Firm Name af Liting Broker = » - fe 5 Auiharired tieeneee oO Page 4 or4 Copyrighies bY ine Northeast Fiorids Abeociailon of ARALTORS. inc. Sais te/00 ud => < > an PAGE __*__ OF exwrre 1S prces (SS 974465p RES 639 MELBA ST 06/061 Sold $49,000 city: JACKSONVILLE County: DUVAL State: FL Zip: 32205 RE Parcel No: 078818-0000 Lot : 0 Bik: 0 Lgl U#: 0 3ubd-Lg Name: EDMONDSONS PINEDALE Subd~Com Name:MURRAY HILL Schools-Elem: Middle: High: Jistoric:N Wtirt:N Type:Sgl Family Homestead:N Mobile/Manuf:N Gated Com:N Assoc Fee: Frequency: Year Built: 1952 New Const:N Bldr: hot Size: Approx SqFt: 1,447 1400 - 1599 Bedrooms : 5 Full Baths: 3 Half Baths: All Bedrooms Conform : Y siving Rm: xX / Dining Rm: x / Mst Br: xX 4th Br: x / Family Rm: x / Kitchen x / 2nd Br: xX / Sth Br x / 3reat Rm : x / Breakfast: xX / 3rd Br: x / Bonus xX / Assum lst Mtg: Int Rt Tot Pmt: Eq Jir:NORTH ON CASSAT, RIGHT ON LENOX - CHANGES NAME TO RAYFORD & FOLLOWS BESIDE I-10, RIGHT ON MELBA - 1ST HOUSE ON LEFT. Rem: 5BR/3BA, 2 KITCHENS~ CAN BE USED AS 3 RENTAL UNITS AS 1BR/1BA W/KIT-HAS ITS OWN ENTRANCE. ANOTHER 1BR/1BA W/OWN ENTRANCE. 3BR/1BA W/KIT. LOTS OF POTENTIAL - HOME WARRANTY - SQUARE FOOTAGE MEASURED, BUYER TO VERIFY. sana Sgl Family 1400 - 1599 SF-Measured Sep Quarters EatSpaceKkit Refrigeratoz Washer Dryer Sep LivingRm Bonus/GameRm Front Porch Work Shop WalWal Carpt Tile Floors Central Heat Wdw/Walivnit Elect Source Public Water Public Sewer CableToHouse Electric W/H 1 Story Shingle Roof Fnced-FntRear Patio-Covred Outsid Light No Pool 1-Car Carprt Regular Lot PrFin-Conv W/C FHA W/C VA OwnerHoldist OwnerHold2nd Poss-Negotia Appoint-CLO Take 1 ExtPh sO: C21-10 CENTURY 21 HARRIS REAL ESTATE (904) 778-7530° LD: 12/13/2000 vA: 10792 DAVID DAVENPORT (904) 993-7269 XD: 06/12/2001 sA Alt Ph: (904) 568-6613 C/D/V: C Fax Phone: (904) 778-3382 i-Mail: dmdaven@hotmail.com D/V Comm: N [o-LA: CO LA Alt Ph: C/D/V: Somp-S/A:0 Comp-B/A:3 Comp-T/A:3 Comp-N/R:3 L-Type:ER ?ending Date: 03/20/2001 Selling Price: $80,000 closing Date: 04/09/2001 Type of Financing: CONV DOM: 98 Selling Office RMAX03 RE/MAX ON PARK AVENUE (904) 269-8100 selling Agent 11703 SHERRYL BROWN (904) 568-5231 20-SO: Co-SA;: Sold Info: -~~ Information herein deemed reliable but not guaranteed. 05/23/01 13:17 --- ~~~ Copyright: 1996-2001 by Northeast Florida Multiple Listing Service, Inc. - = “F o Fra ' wens fone) i ADMINISTRAT ME ComBe Ante EXHIBIT e puusira (Spaces [SZ

Docket for Case No: 05-002849PL