f& ¢ ob Le 0 JUN 9 pe STATE OF FLORIDA / A, DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION V/S/0y, 6 FLORIDA REAL ESTATE COMMISSION HE AS TRg Thy, . : Hist FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, OO | 2U Petitioner, vs. DBPR Case N° 99-82203 99-82539 WILLIAM LENEVE AND WAYNE A. GERL, Respondents. / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (hereinafter "Petitioner" files this Administrative Complaint against William Leneve and Wayne A. Gerl (hereinafter “Respondents”) 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 William LeNeve is and was at all times material hereto a licensed Florida real estate broker, issued license number 0500203 in accordance with Chapter 475, Fla. Stat. The last license issued was as a broker c/o Real Partners Ltd., 350 S. Country Road #201, Palm Beach, Florida 33480. FDBPR vy. William LeNeve Case No. 99-82203 Administrative Complaint 3. Respondent Wayne Gerl is and was at all times material hereto a licensed Florida real estate salesperson, issued license number 0613380 in accordance with Chapter 475, Fla. Stat. The last license issued was as a salesperson c/o Real Partners Ltd., 350 S. Country Road #201, Palm Beach, Florida 33480. 4. In January of 1999, Respondents negotiated the sale and purchase of real property owned by Richard Sulman (hereinafter “the seller”). The buyer was North Ocean Realty Partners, A Florida Limited Partnership to be formed. A copy of the contract is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint, Exhibit 1. 5. North Ocean Realty Partners is a limited partnership. The general partner is Respondent LeNeve’s wife, Tamela Beason. A copy of the affidavit and certificate of limited partnership is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint, Exhibit 2. 6. Pursuant to the contract, the buyer placed a $5,000 earnest money deposit with the agreed upon escrow agent R.E.A.L Partners. The parties to the contract also agreed that a second deposit in the amount of $85,000 would be placed in escrow. On or about January 18, 1999 the buyer gave ‘the Respondents a check i in n the amount tof $90, 000. A A copy of the buyer’ s : ‘check i is attached hereto, incorporated I herein and made ¢ a ‘part hereof by reference as Administrative Complaint, Exhibit 3. 7. Respondents failed to disclose to the seller that Respondent LeNeve’s wife, Tamela FDBPR v. William LeNeve Case No. 99-82203 Administrative Complaint Beason was the general partner in the partnership and the buyer of the property. Respondents failed to provide a Notice of Non-Representation or other required agency forms to the seller. 8. Prior to the closing of the contract and pursuant to the terms thereof, the buyer attempted to assign her right to purchase the property and listed the same for sale with Respondents. A copy of the listing agreement is attached hereto, incorporated herein and made a part hereof by reference as Administrative Complaint, Exhibit 4. Respondents were the listing agents for the new listing. This second listing agreement was for $2,700,000. The contracted price for the property was $1,800,000. Respondents failed to disclose this new listing to the original seller. COUNT I Based upon the foregoing, Respondent William LeNeve i is guilty of concealment, misrepresentation, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of § 475.25(1)(b), Fla. Stat. COUNT If Based ‘upon the foregoing, Respondent Wayne A. Gerl is guilty of concealment, - misrepresentation, dishonest st dealing by tm trick, scheme or device, culpable negligence, or breach of trust: in nay business t transaction in n violation of 5 475, 2510, 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 / FDBPR v. William LeNeve Case No. 99-82203 Administrative Complaint : 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 subj ect 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 6152- 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. FDBPR v. William LeNeve Administrative Complaint Case No. 99-82203 , 2000. SIGNED this Awe day of Apel FILED jen t of professional Ragulat wBivision of Real Estate PCP: TR/JR 4/00 << Libel SE fupce” Department of B nd Professional Regulation By: Herbert S. Fecker, Jr. Director, Division of Real Estate ATTORNEY FOR PETITIONER Andrea Perkins Florida Bar N° 0943053 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 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 FDBPR v. William LeNeve Case No. 99-82203 Administrative Complaint 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 estate license or registration. Please see the enclosed Explanation of Rights and Election of Rights form. ‘sidential Sale and Purchase Contract < FAR. 5 - Rev. 1098 R.E.A.L. Partners - ; , 350 South County Rd. Suite ant la Palm Beach, FL 33480 ~~) Phone: 561- 832-0222, Fax: 561-832-4944 Residential Sale ‘and. I Sale and Purchase Contr FLORIDA ASSOCIATION OF REALTORS® 1. SALE AND PURCHASE: Richard Sulman ("Seller") and North Ocean Realty Partners, A Florida Limited Partnership to be Formed. ("Buyer” Address: 1306 North Ocean Blvd., Palm Beach FL 33480 County: Palm Beach Legal Description: - 7 2 ) agree to sell and buy on the terms and Conditions specified below the Property described as: Tax ID No: n/a together with all improvements and attached items, including fixtures, built- Ceiling fans, light fixtures, attached wall-to-wall Carpeting, rods, draperies and other items included in the Purchase are: A in furnishings, built-in appliances, other window coverings. The only The following attached items are excluded from the purchase: nh PRICE AND FINANCING 2. PURCHASE PRICE: $ 1,800,000.00 payable by Buyer in U.S. Currency as follows: (a) $ ———_3.000.00 Deposit received (checks are subject to Clearance) n/a by. for R.E.A.L. Partners (“Escrow Agent") . * a v Signature Name of Company (b) $ 85,000.00 Additional deposit to be made by 3 days after contract signin (c) $ —__—_________ 808 Total Financing (see Paragraph 3 below) (express as a dollar amount or Percentage) o (d) $ n/a Other: n/a (e) $ —1.710, 000.00 Balance to close (not including Buyer's closing costs, Prepaid items and Prorations). All funds paid at closing must be paid by locally drawn cashier's check or official bank check, wired funds. 3. FINANCING: (Check as applicable) (a) Buyer will Pay cash for the Property with no financing contingency. {b) This Contract is contingent on Buyer Qualifying for and obtaining (1) and/or (2) below (the “Financing") by 45 days after si nin (if left blank then Closing Date or within 30 days from Effective Date, whichever occurs first) ("Financing Period"): (1) A commitment for new © conventional LJ FHA OVA financing for $ n/a (2) Approval for Seller financing or assumption of mortgage (see attached addendum). days from Effective Date (5 days if left blank) and will timely provide i luired by the lender. Either Party may cancel ith, jot obtain the Financing, {including meeting the , OF (il) the Financing is denied because the Property appraises below the purchase price and either Buyer elects not to proceed or the Parties are unable to renegotiate the purchase price. Upon » Surveys and association documents and Buyer's 995 Florida Association of REALTORS® Ail Rights Reserved [R ‘alFAST® Forms, Box 4700, Frisco, CO 80443, , Version 5.51, CRealFAST®, 1999: Reg# CFLFAR225620 ompleted by - W. Lawrence LeNeve, Licensed Broker, R.E.AL. Partne; yer( REALTOR® ve COMPLI 04: Page 1 of7 aH NiSTRATIVE COM! Lb Ties 16:04:53 ge Seter(s) ADWINIS “ps Exhibit 6 EXHIBIT # - a pace ___{__ OF pe idee pag ttt vo 2 romney . £ ( oR AS AULTUALLY AGREED. nt receives proper authorization fr’ ail interested parties. CLOSING , YY: This Contract will be closed and the deed and possession delivered on on_or before 4/15/99 ("Closing Date"), unless extended by other provisions of this Contract. The Property will be swept clean and Seller's personal items removed on or before Closing Date. if on Closing Date insurance deposit(s) will be returned afte’ :crow w/ Paragraph 19. In addition to other expenses provided in this Contract, Seller and Buyer will pay the costs indicated below. - : (a) Selier Costs: Seller will pay taxes and surtaxes on the deed and recording fees for documents needed to Cure title; certified, confirmed and ratified Special assessment liens and, if an improvement is Substantially completed as of Effective Date, an amount equal to the last estimate of the assessment; up to n/a % (1.5% if left blank) of the Purchase price for repairs to warranted items ("Repair Limit"); and up to n/a % (1.5% if left blank) of the purchase price for wood-destroying organism treatment and repairs ("Termite Repair Limit"); Other: n/a (b) Buyer Costs: Buyer will Pay taxes and recording fees on notes and mortgages; recording fees on the deed and financing statements; loan expenses; pending special assessment liens; lender's title policy; inspections; survey; flood insurance; Other: n/a : (c) Title Evidence and Insurance: Check (1) or (2): (1) Seller will provide a Paragraph og) owner's title insurance commitment as title evidence. & Seller 0 Buyer will select the titie agent. & Seller J Buyer will pay for the owner's title Policy, search, examination and related charges. Each party will Pay its own closing fees. including tax search and lien search fees, and Buyer will Pay fees for title searches after closing (if any), title examination and closing fees. (d) Prorations: The following items will be made current (if applicable) and Prorated as of the day before Closing Date: real estate taxes, interest, bonds, assessments, association fees, insurance, rents and other (e) Tax Withholding: Buyer and Selter will comply with the Foreign Investment in Real Property Tax Act, which may require Seller to provide additional cash at closing if Seller is a “foreign person" as defined by federal law. (f) Home Warranty: 0 Buyer O Seller & N/A will pay for a home warranty plan issued by n/a at a cost not to exceed $ n/a - A home warranty plan provides for repair or replacement of many of a home's mechanical system and major built-in applicances in the event of breakdown due to normal wear and tear during the agreement period. : PROPERTY CONDITION 6. INSPECTION PERIODS: Buyer will complete the inspections referenced in Paragraphs 7 and 8(a)(2) by 30 _ days (within 10 days from Effective Date if left blank) ("Inspection Period"); the wood- destroying organism inspection by n/a through inspection on the day before Closing Date or any other time agreeable to the parties, 7. REAL PROPERTY DISCLOSURE: Seller represents that Seller does not know of any facts that materially Sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that acceptable EPA standards, Seller May choose to reduce the radon level to an acceptable EPA level, failing which either party may cancel this Contract. (c) Flood Zone: Buyer is advised to verify by survey, with the lender and with appropriate government agencies which flood the Property is in, whether flood insurance is required and what restrictions apply to »sidential Sale and Purchase Contract - FAR- § - Rev, 1098 ‘995 Florida Association of REALTORS® Ail Rights Reserved :alFAST® Forms, Box 4700, Frisco, CO 80443, Version 5.51, CRealFAST®, 1999; Reg# CFLFAR225620 ompleted by - W. Lawrence LeNeve, Licensed Broker, REAL. Partners, yer 01/14/99 16:04:53 Page 2 ADMINISTRATIVE, COMPLAINT, Sellers) EXHIBIT # OT Be oir dl : it 7, Ke 2skdential Sale and Purchase Contract - FAR- 5 - Rev. 10/98 1995 Florida Association of REALTORS® All Rights Reserved A raFAST@ Forms, Box 4700, Frisco, CO 80443, Version 5.51, ORealFASTO, 1999; Reg# CFLFAR225620, , ompleted by - W. Lawrence LeNeve, Licensed Broker, REAL. Partners LAS , Buyer may » cancel this Contract by Gelivering written notice to Seller within 20 days from Effective Date, failing which Effective Date until closing, except for normal wear and tear ("maintenance requirement") and repairs required by this Contract. Seller will Provide access and utilities for Buyer's inspections. Buyer will repair ail damages to the Property resulting from the inspections and return the Property to its pre-inspection Condition. If Seller is unable to complete required repairs or treatments prior to Closing, Seller will give Buyer a credit at closing for the cost of the repairs Seller was obligated to make. Seller will assign ail assignable repair and treatment contracts to Buyer at closing. (a) Warranty, Inspections and Repair: . (1) Warranty: Seller warrants that non-leased major appliances and heating, cooling, mechanical, electrical, security, sprinkler, septic and Plumbing systems, seawall, dock and pool equipment, if any, are and will be maintained in working condition until closing; that the structures {including roofs) and pool, if any, are structurally sound and watertight; and that the Property has proper permits. Seller does not treatments; nail holes, Scratches, dents, scrapes, chips and caulking in bathroom CeilingMwallsMooringftile/ fixtures/mirrors; and minor cracks in floor tilesWwindows/driveways/sidewalks/pool decks/garage and patio floors, (2) Professional Inspection: Buyer may have warranted items inspected by a person who specializes in and holds an occupational license (if required by faw) to conduct home inspections or who holds a Florida license to repair and maintain the items inspected ("professional inspector’). Buyer must, within 5 days from the end of the Inspection Period, deliver written notice of any items that are not in the condition warranted and a copy of the inspector's written report, if any, to Seller . If Buyer fails to deliver timely written notice, Buyer waives Seller's warranty and accepts the items listed in subparagraph (a) in their “as is" conditions, except that Seller must meet the maintenance requirement, (3) Repair: Selier is obligated only to make repairs necessary to bring warranted items into the condition resolve the differences, Buyer and Seller together will choose, and equally split the cost of, a third inspector, whose written report will be binding on the parties. If the cost to repair warranted items equals or is less than the Repair Limit, Seller will have the repairs made in a workmanlike manner by an appropriately licensed person. If the cost to repair warranted items exceeds the Repair Limit, either party may Cancel this Contract unless either Party pays the excess or Buyer designates which repairs to make at a total cost to Seller not exceeding the Repair Limit and accepts the balance of the Property in its “as is" condition. (b} Wood-Destroying Organisms: “Wood-destroying organism" means arthropod or plant life, including » failing which either party inspector's written report, Buyer accepts the a > Pag orareg 16:04:53 PACE 3 OF ee, (evecare bY ~ Residential Sale and Purchase Contract - FAR-5 - Rev. 10/98 21995 Florida Association of REALTORS® All Rights Reserved *ealFA$T® Forms, Box 4700, Frisco, CO 80443, Version 5.51, ORealFA$T@, 1999- Reg# CFLFAR2Z2: >ompleted by - W. Lawrence LeNeve, Licensed Broker, REAL, Partners Juyer( ~ "41. EFFECTIVE DATE; TIME: The "Effective Date" Property “as is" with reo + to wood-destroying organism infestation an- tamage, subject to the maintenance . requirement. - ~~) (c) Waik-through Inspection: Buyer may walk through the Property solely to verify that Seller has made repairs required by this Contract and has met the contractual obligations. No other issues may be raised as a result of the walk-through inspection. If Buyer fails to conduct. this inspection, Seller's repair and maintenance obligations will be deemed fulfilled. 9. RISK OF LOSS: If any portion of the Property is damaged by fire or other casualty before closing and can be restored within 45 days from the Closing Date to substantially the same condition as it was on Effective Date, Seller will, at Seller's expense, restore the Property and the Closing Date will be extended accordingly. If the restoration cannot be completed in time, Buyer may accept the Property “as is" with Seller assigning the insurance proceeds for the Property to Buyer at closing, failing which either party may cancel this Contract. TITLE 10. TITLE: Seller will convey marketable title to the Property by statutory warranty deed or trustee, personal representative or guardian deed as appropriate to Seller's status. (a} Title Evidence: Title evidence will show legal access to the Property and marketable title of record in Seller in accordance with current title standards adopted by the Florida Bar, subject only to the following title there is no right of entry; current faxes; mortgages that Buyer will assume; and encumbrances that Seller will discharge at or before closing. Seller will, prior to Closing, deliver to Buyer, Seller's choice of one of the following types of title evidence, which must be generally accepted in the County where the Property is located (specify in Paragraph 5(c) the selected type). Seller will use option (1) in Palm Beach County and option (2) in Dade County. (1) A title Insurance commitment issued by a Florida-ticensed title insurer in the amount of the purchase price and subject only to title exceptions set forth in this Contract. (2) An existing abstract of title from @ reputable and existing abstract firm (if firm is not existing, then abstract must be certified as correct by an existing firm) Purporting to be an accurate synopsis of the instruments affecting title to the Property recorded in the public records of the county where the Property is located and certified to Effective Date. However, if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the Proposed insurer as a base for reissuance of coverage. Seller will pay for copies of all Policy exceptions an update in a format acceptable to Buyer's closing ransaction. 8 p 7 eve—the—Preperty-supveyed and pt of survey but no later than Closing, of any foperty's improvements on other lands or deed Buyer waives this equirement in writing. MISCELLANEOUS of this Contract is the date on which the fast of the parties initials or signs the latest offer. All time periods will ~~ be computed in business days (a "business day" is every calendar day except Saturday, Sunday and national legal holidays). If any deadiine fails on a Saturday, Sunday or national legal holiday, performance will be due the next business day. All time periods will end at 5:00 p.m. local time (meaning in the county where the Property is located) of the appropriate day. 12, NOTICES: All notices will be made to the Parties and Broker by mail, personal delivery or electronic media. 01/14/99 16:04:53 (evrutvare ssh) - Pag Seller(s) . t 4 ft Buyér's failure to deliver t’ ly written notice to Seller, when such r ‘‘ce is required by this Contract, ‘regarding any contingencié2ill render that contingency null and vold__id the Contract wilt be construed as if the contingency did not exist. 13. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer and Seller. Except for brokerage agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated Into this Contract. Modifications of this Contract will not be binding unless in writing, signed and 14, ASSIGNABILITY; PERSONS BOUND: Buyer may assign this Contract without Seller's written consent. The terms “Buyer,” "Seller," and "Broker" may be singular or plural. This Contract is binding on the heirs, administrators, executors, personal representatives and assigns (if permitted) of Buyer, Seller and Broker. DEFAULT AND DISPUTE RESOLUTION 16, DEFAULT: (a) Seller Defauit: If for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller fails, refuses or neglects to perform this Contract, Buyer may choose to receive a Performance as per Paragraph 16 :-aa (b) All other disputes: Buyer and Seller will have 30 days from the date a dispute arises between them to © resolve the matter through mediation, failing which the parties will resolve the dispute through neutral binding arbitration in the County in which the Property is located. The arbitrator may not alter the Contract terms or award any remedy not provided for in this Contract. The award will be based on the greater weight of the evidence and will state findings of fact and the contractual authority on which it is based. if the parties agree to use discovery, it will be in accordance with the Florida Rules of Civil Procedure and the arbitrator will resolve all discovery-related disputes. Any disputes with a Teal estate licensee named in Paragraph 19 will be submitted to arbitration only if the licensee's broker consents in writing to become a party to the Proceeding. This clause will survive closing. (c) Mediation and Arbitration; Expenses: “Mediation” is a process in which Parties attempt to resolve a ESCROW AGENT AND BROKER 17. ESCROW AGENT: Buyer and Seller authorize Escrow Agent to receive, deposit and hold funds and other items in escrow and, subject to clearance, disburse them upon proper authorization and in accordance with the terms of this Contract, including disbursing brokerage fees. The parties agree that Escrow Agent will not be liabie to any person for misdelivery of escrowed items to Buyer or Seller , unless the misdelivery is due to Escrow Agent's willful breach of this Contract or gross negligence. If Escrow Agent interpleads the subject matter of the escrow, Escrow Agent will pay the filing fees and costs from the deposit and will recover reasonable attomeys' fees 2esidential Sale and Purchase Contract - 5 - Rev. 10/98 21995 Florida Association of REALTORS® All Rights Reserved ealFAST® Forms, Box 4700, Frisco, CO 80443, Version 5.51, ORealFAST®, 1999; Reg# CFLFAR2S¢63 completed by- W. Lawrence LeNeve, Licensed Broker, REAL. Partners Exrdou Fr : wre (ZG _ ovtaiss 16.0453 ©" o. OF 7 teria) >A 0 pane annenas.s PAGE MNT [woe umin ad) - and costs to be paid from the ~scrowed funds or equivalent and charged a” * awarded as court costs in favor of . arbitrate. 18. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify all facts and : representations that are important to them and to consult an appropriate professional for legal advice (for example, interpreting contracts, determining the effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, etc.) and for tax, Property condition, environmental and other specialized : advice. Buyer acknowledges that Broker does not reside in the Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or public records unless Broker indicates personal verification of the representation. Buyer agrees to rely solely on Seller, professional inspectors and governmental agencies for verification of the Property condition, square footage and facts that materially affect Property value. Buyer and Seller respectively will pay all costs and expenses, including reasonable | attomeys’ fees at all levels, incurred by Broker and Broker's Officers, directors, agents and employees in connection i 19. BROKERS: The licensee(s) and brokerage(s) named below are collectively referred to as "Broker." Seller and Buyer acknowledge that the brokerage(s) named below are the procuring cause of this transaction. Instruction to Closing Agent: Seiler and Buyer direct Closing agent to disburse at Closing the full amount of the brokerage fees as specified in Separate brokerage agreements with the parties and Cooperative agreements between the brokers, unless Broker has retained such fees from the escrowed funds. In the absence of such brokerage agreements, Closing agent will disburse brokerage fees as indicated below. W. Lawrence LeNeve / Wayne Gerl n/a Real Estate Licensee Real Estate Licensee R.E.A.L. Partners, L.P. n/a Broker / Brokerage Fee 5.08 00 Broker / Brokerage Fee: n/a ADDENDA AND ADDITIONAL TERMS 20, ADDENDA: The following additional terms are included in addenda and incorporated into this Contract (check if applicable): ‘A. Condo, isan, (1G. New Mort. Rates [I M. Housing Older Persons, OJ S. Sale of Buyer's Property B. Homeowners’ Assn. On, As ts w/Right to Inspect On. Unimproved/Ag. Prop. Or. Rezoning C. Seller Financing O1. Self-Inspections oO. Interest-Bearing Account Cu. Assignment Co. Mort. Assumption Cy, Insulation Disclosure CIP. Back-up Contract. V. Prop. Disclosure Stmt. &. FHA Financing Ck. Pre-1978 Housing Stmt. (LBP) C] a. Broker- Pers. int. in Prop. CJ otner F. VA Financing CL. Flood insurance Reqd. OR. Rentals O other 21. ADDITIONAL TERMS: . (1) Purchase is subject to Palm Beach ARCOM approval within sixty (60)days Partners shall have the right to list the Property in the MLS and Place a For Sale sign on the subject Property. (3)Change to Para.10(c): Buyer may, within 20 days of Closing Date and at Buyer's expense, have the property This Is Intended to be a legally binding contract. If not fully understood, seek the advice of an attorney prior to signing. OFFER AND ACCEPTANCE ‘ ‘sktential Sale and Purchase Contract - FAR- § - Rev. 10/98 995 Florida Association of REALTORS® All Rights Reserved aFAST® Forms, Box 4700, Frisco, CO 80443, Version § 51, CRealFAST®, 1999; Regt CFLFAR226620 eT | —— ; Mpleted by - W. Lawrence LeNeve, Licensed Broker, R.E.AL. Partners BACH Cm OF y p 7 ‘ 43: e a nn ag + vers) Teo ourais 16:13:92 pace YO Seterte [erena ve oo &\ a - (Check if applicable: F) Buy: received a written real Property disclor 3 statement from Selter before ‘making this Offer.)Buyer S to purchase the Property on the abovi.4rms and conditions. Unless this Contract is signed by Seller and a copy delivered to Suyer no later than n am. Op.m. on n/a . this offer will be revoked and Buyer's deposit refunded subject to clearance of funds. : North Ocean Realty Partners, A Florida Limited Partnership to be Formed. -121 Cypress Cove, Jupiter, FL 33458 Home #: Bus.#: 561~-745-2723-————_. BUYER Vann . -(S-4a. “By: Tamela A. Beason SELLER DATE V lisfoq Richard Sulman 1306 North Ocean Blvd., Palm Beach, FL 33480 O Seller counters Buyer's offer (to accept the counter offer, Buyer must sign or initial the counter offered terms ——_________). OU Selter rejects and deliver a copy of the acceptance to Seller by 5:00 p.m. on Buyer's offer. Effective Date: (The date on which the last Party signed or initiaied acceptance of the final offer.) skdential Sale and Purchase Contract - FAR- 5 - Rev. 10/98 995 Florida Association of REALTORS® Al Rights Reserved alFAST@ Forms, Box 4700, Frisco, CO 80443, z Version 5.51, ORealFAST®, 1999; Regt CFLFAR22SA30 Vi!!! COMPLAINT ‘mpleted by - W. Lawrence LeNeve, Licensed Broker, R.E.A.L. Partners EX | P ot? 01/14/99 16:14:08 APTOH ‘pace erat earns ‘age 7 0! PA OF 4 reform 1q.40b . . ox oe [evruiairah \ = y+ CERTIFIGATE OF LIMITED WARTNERSHIP OF: ‘NAME: NORTH OCEAN REALTY PARTNERS LIMITED PARTNERSHIP BUSINESS ADDRESS: 350 SOUTH COUNTY ROAD, SUITE NO, 201 PALM BEACH, FLORIDA 33480 AGENT: TAMELA BEASON 350 SOUTH COUNTY ROAD, SUITE NO. 201 PALM BEACH, FLORIDA 33480 \ Am, = \._ (eZ CAS ~> TAMELA BEASON MAILING ADDRESS OF , LIMITED PARTNERSHIP. SEE BUSINESS ADDRESS _ LATEST LIMITED PARTNERSHIP DISSOLUTION DATE: JANUARY 19, 2019 NAME OF GENERAL PARTNER: TAMELA BEASON 350 SOUTH COUNTY ROAD, SUITE NO. 201 PALM BEACH, FLORIDA 33480 SIGNED THIS 19TH DAY OF JANUARY 1999 yuanen Recwe TAMELA BEASON ee TIVE COMPLAINT PAGE| oor_ ge Peon iin wut rN - YY wey AFFIDAVIT OF CAPITAL CONTRIBUTIONS BEFORE ME, the undersigned constituting all of the general partners of NORTH OCEAN REALTY PARTNERS, LIMITED PARTNE RSHIP, a Florida Limited Partnership, certify as _follows: . . The amount of capital contributions to date of the limited parmers is $1000. The total amount contributed and anticipated to be contributed by the limited partners at this time is $1000. This 19th day of January 1999 FURTHER AFFIANT SAYETH NOT. Under the penalties of perjury I declare that I have read the foregoing and that the facts alleged are true, to the best of my knowledge and belief, Jann ze 3 “. -Tamela Beason General Partner RM Ls wa A makes oe _Zerd ‘Sisosre tase “N8HANS NAWH* GavHoTa We zs76e eecr-er-anv | wy) . 7 Pam Beacu Narionar Bank & Trust Company CFE DR HEPCSEE ARE CREMTED SHEURGS TO PAYMENT, TH PROYISIUNG OF THE UGG. ARAL THE SURES AND REGULATIONS OF tet RAL RETAIN THIS RECEIPT FOR YOUR RECORDS 0034 ODnZ 128 OO O1fae/9e = OesyS Y 410079269 DADE $99 099,90 THANK You THANE YOU. HAVE & GREAT GAY. MICHELLE * PROFESSIONAL TRUST SERVICES AND FULL SERVICE BANKING * | tenen iopurier benny 0 810.006 Peemer Cmpete wwerarce Cov TAMELA A. BCASON Sarg 0087 3209 | vee 8 in H a ye 2 K Fail P a Austad Or Ord Pigy—————— ir TON NATIONALBANK FAs DRS ! t fF OF Fu i Laan, Toman oat ‘ORUATION SERVICE toot neta m3 Ye Oran em Dtrnte U. Beas, ROLTOOBL3 2s AGS PUOASLL? 3209 oN This Exclusive Right of Sale Listing Agreement (‘Agreement’) is batweean f U Assumption of Existing Mortgage: Buyer may assume existing mortgage for $ w/ TRAN, Ftd LETS SS od 350 South County Rd. Suite 201 Paim Beach, FL 33480 Phone: 561-832-0222, Fax: 561-932-4944 ” Exclusive Right of Bale Listing Agreamente can: ae _FLORIDAASSOCIATION OF REALTORS@ coh isu aed North Ocean Realty Partners "Seller) and (Sellar) & Partners, L.P., 305 South County Road, Suite 201, Palm Beach FL 33480 (Broker”). 1. AUTHORITY TO SELL PROPERTY : Seller gives Broker the EXCLUSIVE RIGHT TO SELL the real and personal property {collectively “Property") described below, at the Prica and terms described balow, beginning theisth day of 199 annuar (‘Termination Date"), Upon full execution of a contract for sale and Purchase of tha Property, all rights and obligations of this Agreement will automatically extend through the date of the actual Closing of the sales contract. Seller and Broker acknowledge that this 2. DESCRIPTION OF PROPERTY: (a) Real Property Streat Addrass- 1306 North Ocean Blvd., Palm Beach FL 33480 Legal Dascription: Osceola Way LT14 less WLY 103 FY/sLT 14a O see Attachment pla (b) Personat Property. including appliancas: nea See Attachment nla (¢) Occupancy: Property (J is B ts not Currently occupied by a tenant. if Occupied, the iease term expires Bfa 3. PRICE AND TERMS: The property is offered for sale on the following terms, or on other terms acceptable to Seller: (a) Price; n/a fe) Financing Terms: LJ Cash C Conventional va CrHa Clotner Bla, , Saltér Financing. Solter will hold a purchase money mortgage in the amount of $ aéa with the following erms: : plus an assumption fee of $ . The_mortgage is for a term of nfa____ years beginning in Bla al an interest rata of n/a % TI fixed Cl yarns (describe) n/a — Lander approval of assumption C1 js required LJ jg not required CO) unknown, Notice to Seller: for &n assumed mortgage for a number of years after the Property is sold. Check with yo the extent of your liability. Seller will ensure that all mortgage payments and requi You may remain fiadle ur lander to determine ired escrow deposits ara current 808 Florida Asaociation of REALTORS® AX Rights Reserved 2 SFAST@ Forma, Gox 4700, Frisco, CO 80443, Version 5.51, ORealF AST®, 1999, Regs CFLFAR225420 pecan memo npleted by - W. Lawrence LeNeva, Licensed Broker, R LAL. Partiors 01/1589 14.0618 Page tor 4 Saller(8} TRATIVE CO EXHIBIT foo PAGE ____{ oF (Peeuh Tv +t) ah] (a} Advertise the Property as Broker deams advisable in newspapers, publications, computer networks and other media: + place appropriate transaction signs on the Property, including "For Sala” signs and “Sold” signs (ance Seller signs a sales airaehe and usa Seller's name in connection with marketing or advertising the Property; Place the Property in @ multiple listing service (' 8"), Seller authorizes Breker to report to the MLS this Hating frionmeton and price, terms an financing information on any resulting sale for use by authorized Board / Association members, MLS participants and subscribers: . {d) Provide objective comparative market analysis information to potential buyers; and [@) (Check if applicable) FI Use a lock bex system to show and accass the Property, A lock box does not ensure the 8 security; Siler is advised to secure of remove valuables. Seller agrees that the lock box is for Seller's benefit cand fabeanee eniee Rérsons working through Broker ai Broker's focal Realtor Board / Association from all liability and responsibility in connection with any fogs that occurs. (J Withhald verbal offara. Withhald all offers once Seller accepts a sales contract for the Property. (f} Act as a single agent of Seller, + Wee by purchase or any other meana of transfer. - erty and make the Property available for Broker to show during reasonable times. ry 'd) To indemnify Broker and hold Broker harmiess from losses, damages, costs and expenses of any natura, Including attomey’s fees, and from liability to any person, that Broker incurs because of (1) Sellers negligence, representations, “ misrepresentations, actions or inactions, (2) the use of a lock box, (3) the existance of undiaciosed material facts about ._ the Property, or (4) a court or arbitration decision that a broker who was not campensated in connection with a transaction _ 18 entitied to compensation from Broker. This Clause will survive Broker's performance and tha transfer of title, (8) To perform any act reasonably necessary to comply with FIRPTA (Internal Ravenue Code Section 1445). , (f) Make all legally raquired disclosures, including all facts that materially affect the Property's value and are not readily observable or known by the buyer. Sellar cortifias and represents that Seller knows of no such material facta (local government building code viclaiions, unobservable defects, ste.) other than the following: Seller will immediatly Inform Broker of any material facts that arlae after signing this Agreement (g) Consult appropriate professianals for related legal, tax, property condition, environmental, foreign reporting raquiraments and other specialized advice. . 4. COMPENSATION; Seller will compensate Broker 93 specified below for procuring 9 buyer who is ready, willing and able "to purchase the Property or any interest in the Property cn the tarms of this Agreement or an any other terms ecceptabie to Seller. Selier will pay Broker as follows (plus applicable salas tax): . (a) & % of the total purchase price OR § n/a , fa later than the date of closing specified in the sales contract. However, clasing is nat a Prerequisite for Broker's fee basing earned. . (b) n/a (% oF 5%) of the consideration Pald for an aption, at the time an option is created. [f the option ia exercised, Seller will Pay Broker the paragraph 8(a) fae, laas tha amount Broker received under this subparagragh, {c) ($ or %) of gross lease value as a leasing fee, on the date Seller enters into a lease or agreement to tease, whichever Is soonest. This fea ia not dua if the Property Is or bacames the Subject of a contract granting an exclusive right to lease the P, /, (d) Broker's fea is due in the follawing circumstancas: (1) If any interest in the Property is transferred, whether by sale, laage, exchange, governmental action, bankruptcy or any other means of transfer, ragardiess af whether the buyer is sacured by Broker, Seller or any other Parson. (2) If Seller refuses or fails to sign an offer at the price and terms stated in this Agreement, defaults on an Sxscuted sales contract or agrees with a buyer to cancel an Sxecuted sales contract, (3) Hf, “within p/a___ days after Termination Date ("Protection Period"), Seller transfers or contracts to transfer the Property or any interest in the Property to any prospects with whom Seller, Broker or any real estate licaneae communicated regarding the Property prior to Termination Date. However, no fee will be due roker if the Property is relisted after Termination Date and sold through another broker. : (@) Retained Deposits: As consideration for Broker's services, Broker is entitled to teceiva R/a_ % of all deposits that Sefier retains as liquidated damages for a buyer's default in a transaction, not ta exceed the Paragraph 6(a) fea. 7. COOPERATION WITH OTHER BROKERS: Broker's Sffice policy is to cooperate with all other brokers axeept when net In Seller's best Intereat, and to offer Compensation to: Buyer's agents, whe represent the interest of the buyer and not ihe Interest of Seller ina transaction, aven if compensated by Seller or Broker. 2-Subagents. L] Nonrepresentatives. “Transaction brokers. CI None of th dove (if this box is checked, the Property cannot be placed in the MLS). duslve Right of ~ERB-T40 - Rev. 078 998 Florida Asanetation OREALTORSO AR Rights Roserved ¥FAST® Forma, Bow 4700, Fiises, CO B0AA3, Veraisn 5.51, CRealFASTO, 1900; Reg’ CFLFARI25¢20 ‘plated by - W. Lewrance LoNeve, Uconeed Groker, REAL. Partnery OUI Se9 14:06:10 sete a4 AP (er aamey rt 2) Wd Ned SINGLE AGENT NOTICE FLORIDA LAW REQUIRES tHAT REAL ESTATE LICENSEes GFERATING AS SINGLE AGENTS DISCLOSE TO BUYERS AND SELLERS THEIR DUTIES. As a single agont, and its associates owe to you the following duties: 1 Davait’. honestly and fairty; 2 . . La ; 3. Confidentiality; 4. Obedience; §, Full disclosure; 8. Accounting for ail funds; ; 7. Skill, care, and diligence in the transaction: & Presenting all offers and counteroffers In a timely manner, unless a party has Previousty directed the licensee se | ting; and 3 Diatteenn Meiting: an of residential | Property and are not readily ." BROKERAGE RELATIONSHIP: 9. Disclosing all known facts that materially affect the v; observable, ~ |- 15-4 Date 8. CONDITIONAL TERMINATION: At Seller's request, Broker May agree to conditionally terminate this Agreement. if . Broker agrees to conditional termination, Seller must aign a withdrawal @greement, reimburse Broker for all direct expenses ” incurred in marketing the Property and pay a Cancaliation fee of $ n/a plus applicable saleg tax. Broker may void the conditional termination and Seller will Pay the fee stated in paragraph 6(a) less the cancellation fee if Seller transfars or contracts te transfer the Property or py interest in the Property during the time Period from the date of conditional termination to Termination Date and Protection Pertad, if appileabie. 16. DISPUTE RESOLUTION: This Agreement will be Construed under Florida law. All controversies, claims and other matters In question between the Parties arising out of or relating to this Agreament or the breach thereof will be Settled by first attempting madiation under the rules of the American Mediation Association or other Mediator agreed upon by the parties. if S _Thigation arises out of this Agreement, the Prevailing party will be entitled to recover reasonable attomey's fees and casts, . «Unless the parties agree that disputes will be settied by arbitration as follaws: Arbitration: By initiating in the Space provided, —Saller__) C__), isting Associate (__) anid L Broker (___) agree that disputes not resolved by medlation €greed upon by the parties, Each party to any arbitration costs and expenses, Including attomay’s Toon @nd will | Agreement is binding on Sroker's and Seller's heirs, Personal representativas, administrators, SucCaséars and assigns. Broker may assign this Agraement to another listing office, Signatures, initials and modifications communicated by facsimila will be Considered as originals. The tarm “buyer” as used in this Aareement includes buyers, tenants, exchangors, optionees and other categories of Potential or actual transferees. North Ocean Realty Partners 3 121 Cypress Cove, Jupiter, FL 336sq-—— pare \- 19 -9q gp 173 By! Tamela A. Beason — Authorized Listing Associate or Broker: .. Page sot, Fvtrtimin tee) rerwm on U a . wi ? R.E.A.L. Partners hid 350 South County Rd. Suite 201 Palm Beach, (] Phone: 561-, 832-4944 By: Signature W, Lawrence LeNeve Copy, retumed to Sellar: on'th - idee eee REALTORS ater apnea te hye nectar pan a hdardized om sou ret be nue in Mee eATOR ee extensive riders of additions. ‘Thie form is avaliable for ane oa neat realestate fede and Is mbers of the NATIONAL ASSOCIATION OF REALTOR® andl wha stbecribe to its cod ind ote tees seat Mirae cree oe ADMINISTRATIVE COMPLAINT EXHIBIT #7 Pace 4 oor 4 . , fe rina D 2? : Ls

Docket for Case No: 00-002424