i » bay os ATE OF FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION FLORIDA REAL ESTATE COMMISSION ALM FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, ; “DBPR Case “NP 99- 82817 MARK G. MAI, Respondent. ee “ADMINISTRATIVE COMPLAINT | State of Florida, Department of Business and Professional Regulation, Division of Real against Mark G. Mai Estate (hereinafter *Petitioner”): files this Administrative Complaint (hereinafter “Respondent”) and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state g vernment licensing and regu atory gency charged with the Hobe FDBPR v. Mark G. Mai Case No. 99-82817 Administrative Complaint be} 4. Onor about April 27, 1999, sellers (Ronald and Eileen Polzien) and buyers (Stephen and _ Marie Olney) executed a contract for the sale of property located at 450 Shore Drive, Destin, Florida. - The contract specified an effective date of May 2, 1999. A copy of the contract is attached hereto, incorporated herein and made a part hereof by reference a as Administrative Complaint Exhibit 1. 5. The Olneys maintain that line 3(b) of the contract was blank when they executed the contract. Lien 3(b) provides the deadline for ‘the buyers to obtain financing 6. The Polziens maintain that the Respondent entered “May 6, 1999” on line 306) after the contract had already been signed by the Olneys, and not in the presence of the Olneys. 7. The contract required an additional deposit seven days after acceptance. 8.. The Olneys advised that on May 8, 1999, the Respondent informed them that the contract : was no longer valid.. The Respondent refused to accept the additional deposit 9. On or about May 10, 1999, the ne Respondent wrote a second contract for the purchase ‘of transaction te Case No. 99-82817 oe FDBPR v. Mark G. Mai Administrative Complaint 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 n 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 ao) years, imposition of an administrative fine of up to , $1,000 for each count or offense; “imposition of investigative costs issuance of a repr and; imposition of probation subject to terms. including, but not limited to, “requiring the licensee, registrant or permitee to complete and pass adit ional. real e estate education « courses; publication or any combination of the foregoing which may apply. See § 45. 2500, Fla. Stat. and Rule 61s - 24.001, Fla. Admin. Code: The penalties which may be imposed for Violations) of Chapter 455, ation of the license, Fla. Stat., depending upon the severity of the offense(s), include: FDBPR v. Mark G. Mai Case No. 99-82817 Administrative Complaint : oe : 1 See § 455.227, Fla. Stat. and Rule 61J2-24.001, Fla. Admin. Code. siGNED this /9Z day of Lily “200, ares: * ; ; Professional Regulation : By: Herbert S. Fecker, Jr. Director, Division of Real Estate ATTORNEY FOR PETITIONER Ghunise Coaxum vs: Florida Bar N° 077348 “. 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 - 573, Fla. Stat, te Case No. 99-82817 FDBPR v. Mark G. Mai Administrative Complaint available for administrative disputes involving this type of agency action. PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57, Fla. Stat.; that you have the right, at your option and expense, to be represented. by counsel ox 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. wien a eget oan Biden tebe bye fiave Vewwal - Shaul ave, a el Lerrgezl Ceriripren? by 6/20/44 r : Lek zen! (“Seller”) ” a (“Buyer”) i 1” agree to sell and _buy on, the terms and conditions specified below the property described as: : ‘ Address: AAS “cK PAVE 4 po pesmi, FL SEH - Com, LLALIEAS a ¥ Legal Description: Le A: nay O4fke XS? pV/ey UL 2 eirEe a : Bll Cte? ZEFU8. TaxlONo: ZY 25 ay AL/3H 3 PH ORS oan + together with all improvements and attached items, including fixtures, buill-in furnishings, built-in appliances, ceiling fans, light mente ad + fixtures, attached wall-to-wall carpeting, rods, draperies and other window coverings. The only olher items included in the . purchase are: AS PR IGER AT? RK. *. The following attached items are de purchase: 5 The real and persona 6 in this Contract ig yt 2 inthis Copie o SbGacuase PRICE: $AKGTE desi slinoga ra in the purchase is referreu . . ...2 . -operty.” Personal property listed “ is i Ch wurchase pi et contributory value and is being left tur Seller's convenience. . ant 00 Bappcee PRICE AND FINANCING ' = payable by Buyer in _pycrency as follows: vy A$ Zele gpk are subject to clearance) _ Rie Z1__.LP7F vy . : o , A for Asda fdas TT SOC TAO ("Escrow Agent’) 4 . ‘ ‘Signature ‘Name of Company t 2 ( - owe 2 ($26 [<1 Additional deposit to be made by 7Pays AF. Abe fpideeZ zs €) 3 a, o60r~ - Total Financing (see Paragraph 3 below) (express as a dollar amount or percentage) « @s - Other: ‘o- (e) $. eA CLC ins .. Balance to close (not including Buyer’s closing costs, prepaid items and prorations). All funds paid 6 . at closing must be paid by locally drawn cashier's check or official bank check, or wired funds. ‘3, FINANCING: (Check as applicable) Oi (a) Buyer wil! pay cash for the Property with no financing contingency : x b) This Contract is contingent on Buyer qualifying for and obtaining (1) and/or (2) below (the “Financing’) by 1) au ang ¥ {if left blank then Closing Date or within 30 days from Effective Date, whichever occurs first) ("Financing Period”): y (1) Acommitment for new ‘4-conventionalQ FHA, (OVA financing for $ EL EOE or % of the purchase price (plus 1 any applicable PMI, MIP, VA funding fee) at ihe prevatiing interest rate and foan costs (if FHA or VA, see attached addendum). 2 1 (2) Approval for Seller financing or assumption of mortgage (see attached addendum). , . y Buyer will apply for Financing within days from Effective Date (6 days if left blank) and will timely provide any and all credit, 1 employment, financial and other information required by the lender. Either party may cancel this Contract if () Buyer, after using : - : 5 diligence and good faith, cannot obtain the Financing, {including meeting the tems of the commitment), or (ii) the Financing is : % denied because the Property appraises below the purchase price and eilher Buyer elects not to proceed or the parties are unable : 7 to renegoliate the purchase price. Upon cancellation, Buyer will retum all Seller-provided litle ‘eviclence, surveys and asso salary ~ 8 documents and Buyer’s deposil(s) wi be returned after Escrow Agent receives proper authorization frorn all interested parties ‘= ra ) y 1 . CLOSING OW Ot [BEF(RE vuly Atk . 4, CLOSING DATE; OCCUPANCY: This Contract wil be closed and the deed and possession delivered on Laborer spt WaCheye. (‘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 Dale insurance underwriling is suspencled, Buyer may posipone closing up to S days. 3 5. CLOSING PROCEDURE; COSTS: Closing will take place in the county where the Property is located. If lille insurance insures + Buyer for title defects arising between the title binder effective date and recording of Buyer's deed, closing agent will disburse al . i + closing the net sale proceeds to Selfer and brokerage leas to Broker as per Paragraph 19. In addition lo other expenses provided . ees +’ in this Contract, Seller and Buyer will pay the costs indicated below. : ral +... (a) Selter Costs: Seller will pay taxes and surtaxes on the deed and recording fees for documenis needed to cure title; certified, wee me 1 y y 1 ~. confirmed and ratified special assessment liens and, if an improvement is substantially completed as of Effective Dale, an amount equal to the last estimate of the assessment; up to % (1.5% if left blank) of the purchase price for repairs to warranted items ("Repair Limit”); and up to % (1.5% if teft blank) of the purchase price for wood-destroying organism treatment and repairs (“Termite Repair Limit"); Other: an : : _ ee . ~~” (b) Buyer Costs: Buyer will pay taxes and recording fees on roles and mortgages; recording {ees on the deed and financing” : slatements; loan expenses; pending special assessment tiens; lender's lille policy; inspections; survey; flood insurance: vr. Other: : . : : : >». (e) Title Evidence and Insyri ancge Check @) oF (2 “ ; r © (1) Seller will prqvy afagraph 10(a)(1) owner's. tille insurarice Commitment as tille evidence. C1 Seller UW Buyer will ” select the tile age’. M Seller tf, Buyer will pay for the owner's title policy, search, examination and related charges. Each party will pay its own closing fees. cea cae Se epee fas 12 (2) Seller will provide title evidence as specified in Paragraph 10fa2). 9 Seller fd Buyer will pay for the owner's title policy and select the title agent, Seller will pay fees for title searches prior lo closing, including lax search and. i search fees, and Buyer will pay [ees for title searches afler closing (if any), litle examination fees and closing fees. = (d) Prorations: The following items will be made current (f applicable) ‘and prorated’as of the day before Closing Date: re ~ estate taxes, interesl, bonds, assessments, associatidn fees, insurance, rents and other current expenses and revenues the Properly. If taxes and assessmer current year cannot be delermined, thé’ previous year's rales will be tis _adiustment for exemptions and j yt ments. Buyer is responsible for properly tax increases cuic lo chan¢ wnc {e) Tax Withholding: Br a eller will comply with the Foreign Investment in. Real Property Tax Act, which may require On tra . 9, RISK OF LOSS: If any portion of the Properly is damaged by fire or other casually before closing and can be restored willtin - 45 days frony the Closing Date to substantially the same ‘conclilion ‘a8 il was on Effective Dale, Seller will, at Seller's expense, ‘ “ Paraigraph §(¢) the selected type). Seller will use. option (1) in Palin Fe vais Ak, ETM : Séller 1upresci ns Wat Seiler Gees noi show Ci any jacls Hat Me page 2 of 4 iliac Properly. including violalions of governmental laws, rules and regulations. other than those that B or thal are known by or have boon disclosed lo Buyer. (a) Energy Efficiency: Buyer acknowledges reccipl of the Florida Building Energy-Liliciency Rating System brochure. I this is a _ new home, the builder's FL-EPL card is attached as an addendum. * tb) Radon Gas: Radon is a natuially occuring radioactive gas thal, when it has accumulated in a building in sulficicnt quantilies, may presont heattl risks lo persons who are exposed to it over tine. Levels of radon thal exceed fed state guidelines have been found it pul in Motida, Additional information regarding radon and radon testing may be obtained fom your counly public health unit, Buyer may, within the fiispection Period, have an approptiately licensed person Ek lest the Properly for racton. If the radon level exceeds acceptable EPA standards, Seller may choose lo reduce the radon lovel 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 fender and with appropt iale government agencies which flood : zone the Properly is in, whether flood insurance is required and whal restrictions apply to improving the Properly a id tehouitcling ot in the event of casually. tt the Properly is in a Special Flood Hazard Area or Coastal High Hazard Arca and the buildings: are Lull : aan below the minimum flood elevation, Buyer may cance! this Contract by delivering wrillen notice lo Seller within 20 days front os Etiective Date, failing which Buyer accepls the existing elevation of the buildings and zone designation of the Property. _ (d) Homeowners’ Association: If membership in a homeowners’ association is mandatory, an association disclosure summary is attached and incorporaled into this Contract. BUYER SHOULD NOT SIGN THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE DISCLOSURE SUMMARY. oo 8. MAINTENANCE, INSPECTIONS AND REPAIR; Seller will keep the Properly in the same condilion from Effective Dale unt closing, except for normal wear and tear (“maintenance requirement’) and repairs required by this Contract. Seiler will provide access and ulililies for Buyer's inspections. Buyer will repair all damages to the Properly resulling from the ins, tions and relutn the Property to ils pre-inspection condition. 1 Seller is unable lo complete required repairs or Ireatimer us prior lo closing, Seller will give Buyer a credit at closing for the cost of the repairs Seller was obligated to make. Seller will assigh all ghable repair and treatment contracts lo Buyer al closing. (a) Warranty, Inspections and Repair: ~ : i (1) Warranty: Seller warrants that non-leased major appliances and heating, cooling, mechanical, electrical, secutily, 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; ancl that the Properly has proper permits. Seller does not warrant aird is nol required to repair cosinetic conditions, utess the cosmetic condition resulled from a defect in a warranted ilem. Seller is not obligated to bring any Hem into compliance with exisling building coc regulations unless necessary lo repair ‘a wananted item. “Working condition” tmeans operating in the manner in which the ilem was designed lo operate and “cosmelic condilions” means aesthetic imperfections that do not affect the working condition of the item, including pilled marcite; missing or tom screens; fogged windows; tears, worn spots anc discoloration of floor coverinys/wallpapers/window ltrealinents; nail hol dcratches, dents, scrapes, chips and caulking in bathroom ceiling/walls/looring/lile/lixtures/mirrors; at ad minor cracks in floor liles/windows/driveways/sidewalks/pool decks/garage arid patio Moors. . ° . (2) Professional Inspection: Buyer may have warranted ilems inspected by a person who specializes in and holds an occupational license (if required! by law) to conduct home inspections or who helds a Florida license to repair and maintain ae the items inspected (“professional inspector"). Buyer tust, within 5 days from the end of the Inspection Period, deliver : wrilton notice of any items thal are nol in the condition warranted and a copy of the inspector's wrilten report, if any, to Seller. if Buyer fails to deliver timely wrilten nolice, 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: Seller is obligated only to make repairs necessary to bring warranted items into the condition warranted, up lo the Repair Limit. Seller may, within 5 days from receipl of Buyer's notice of ilems that are not in the condition warranted, have a second inspection made by a professional inspector and will report repair estimates to Buyer. If the first ancl second inspection reports differ and the parties cannot resolve the cillerences, Buyer and Seller together will choose, and equally split the cost of, 4 third inspector, whose wrillen report will be binding on the parties. if {he cost to repair warranted ilems equals or is less than the Repair Limil, Seller will have the repairs made in a worknuntike manner by an appropriately licensed person. If the cost to repair warranted ilems exceeds the Repair Limit, either party may cancel this Contract unless either party pays the excess or Buyer designates which repairs to make al a lolal cost lo Seller not exceeding the Repair Limit and accepts the balance of the Properly in its “as is" condition. ’ {b) Wood-Destroying Organisms: “Wood-destroying organism" means arthropod or plant life, including termites, powder-post ieellos, oldhouse borers and wood-decaying fungi, thal damages or infesls seasonecl wood in a structure, exclucing fences. Buyer may, at Buyer's expense and prior to closing, have the Property inspected by a Florida-licensed pest cot trol business to detennine the existence of past or present wood-cleslroying organism infestation! arid damage caused by infestation. If the inspector finds evidence of infestation or damage, Buyer will deliver a copy of the inspector's written report to Seller within 5 days [rom thie date of the inspection. Seller is not obligated to treat the Property if all the following apply () there is no visible live _ infestation, (i) the Properly has previously been treated, and (ji) Seller transfers a’ current {ull treatment warranty fo Buyer at closing. Otherwise, Seller will have 5 days {rom receipt of the inspector's report to have’ reporled damage estlimatec! by a ficensed building or general contractor and corrective trealinent estimaled by a licensed pest contro! business, Seller will have. trealinenls.and repairs made by an appropriately licensed person'at Seller's expense up to the Termite Repair Limit. ff he cost to lreal and repair the Property exceeds the Termite Repair Limit, eilher parly may pay the excess, falling which either party may cancel this Contract. I Buyer to timely deliver the inspector's wrillen report, Buyer accepts the Property “as is" with regard lo wood-destroying oryanisin infestation and damage, subject lo tie iaiilerange requirement. oon oe (c) Walk-through Inspection: Buyer may walk through the Property solely to verify that Seller has made ‘$s required by this Corract and has met contrat obligations. No ‘Other issues may bé ‘taised as a resull of the walk-through inspection. If Buyer fails to conduct this inspection, Seller's repair ancl maintenance obliyations will be deemed Lulfilled. * restore the Property'and the Closing Dat may accept the Properly “as is” with Sell either parly may cancel this Contract, ill be extended accordingly. If thie F lion Cannot “completed in line, Buyer” sporty lo Buyer al closing. failing which 10. TITLE: Seller will convey marketable tille to th guardian deed as appropriate to Seller's status.” (a) Title Evidence: Tile ‘evidence will show legal access t are “> current fille standards adopted ‘by the Florida Bar, subject only to the following lille & use of the Properly: covenants, easements and restricti : matters: = regulations; oil, gas and mineral rights ofr Jif her i ~ encumbrances that Seller will discharge al or belore:closin¢ the following types of lille evidence, which must be generally accep! ne of which prevent residential xisting zoning and goverment © gages that ‘Buyer will assume; ancl. (1) A tile insurance commitment issued by a subject only to title exceplions’set for ay G22) anc Seller Wade “"S 19U8 Flotith : : ae ij aos” (2) An existing abstract of title from a repulable and existing abstract firm Gf firm page 3 of + must be 7 “ * 464 certified as correct by an existing firm) purporting to be an accurate synopsis of wie meuuriens anevurny ene lo the : 165 Properly recorded in the public records of the county where the Property is located and certilied to Effective Date. ! 166 }6wever, if such an abstract is not available to Seller, then a prior owner's title policy acceptable to the proposed wr _insurer as a base for reigsuance of coverage. Seller will pay for copies of all policy exceptions and an update in a format 16a “acceptable to Buyer's ‘closing agent from the policy effective date and certified to Buyer or Buyer's closing agent, ees i 169 together with copies of all documents recited in the prior policy and in the update. If a prior policy is not available to. . : a 1207 Seller then (1) above will be the litle evidence. Title evidetice will be delivered no laler than 10 days before Closing Date. . 171 {b) Title Examination: Buyer will examine the lille eviclence and deliver wrilten notice to Seller, within 5 days from receipt of “473 °-" litle evidence byt no later-than closing, of any defects that make the litle unmarketable. Seller wil have 30 days Irom : ares receipt of Buyer's notice of defects ("Curative Period”) to cure the defects at Seller’s expense. If Seller cures the defects “within te Curative Period, Seller will deliver written notice to Buyer and the parties will close the transaclion on Closing 178 Date or within 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the 176 defects within the Curative Period, Seller will deliver written notice to Buyer and Buyer will, within 10 days from receipt of 177 Seller's nolice, either cancel this Contract or accept titfe with existing defects and close the transaction. 178 (c) Survey: Buyer may, prior to Closing Date and at Bliyer's expense, have the Properly surveyed and deliver written notice to ” 179 Seller, within 5 days from receipt of survey but no later than closing, of any encroachments on the Property, encroachments by the 10 Properly’s improvements on other lands or deed restriction or zoning violations. Any such encroachment or violation will be treated tet in the same manner as a lille defect and Buyer’s and Seller's obligations will be determined in accordance wilh subparagraph (b) woe k 182 above. If any part of the Property lies seaward of the coastal construction control line, Seller will provide Buyer with an affidavit or mo . 183 survey'as required by law delineating the line's location on the property, unless Buyer waives this requirement in writing. 194 » MISCELLANEOUS 185 11. EFFECTIVE DATE; TIME: The “Elfective Date” of this Contract is the date on which the last of the parties initials or signs the tx¢ latest offer. Time is of the essence for all provisions of this Contract. All time periods will be computed in business days (a 187 “business day" is every calendar day except Saturday, Sunday and national legal holidays). If any deadline falls on a Saturday, 168 Sunclay or national legal holiday, performance will be due the next business day. All time periocls will end at 5:00 p.m. local te9 time (meaning in the county where the Property is located) of the appropriate day. 199 12. NOTICES: All notices will be made to the parties and Broker by mail, personal delivery or electronic média. Buyer's failure’ ” to1_ to deliver timely written notice to Seller, when such notice is required by this Contract, regarding any contingencies will 193" render that contingency null and void and the Contract will be construed as if the contingency did not exist. 193 13. COMPLETE AGREEMENT: This Coniract is the entire agreement between Buyer and Seller. Except for brokerage 1v1_ agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract. 195 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party to be bound. Signatures, 195 initials, documents referenced in this Contract, counterparts and written modifications communicated electronically or on paper 197 will be acceptable for all purposes, including delivery, and will be binding. Handwritten or typewritten terms inserted in or 198 attached to this Contract prevail over preprinted terms. if any provision of this Contract is or becomes invalid or unenforceable, 199 all remaining provisions will continue to be fully effective. This Contract will not be recorded in any public records. ° 200 14. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms 201 “Buyer,” “Seller,” and “Broker” may be singular or plural. This Contract is binding on the heirs, administralors, executors, 202 ‘personal representatives and assigns. {if permitted) of Buyer, Seller and Broker. : DEFAULT AND DISPUTE RESOLUTION . a . 145, DEFAULT: (a) Seller Default: If for any reason other than failure of Seller to make Seller's title marketable after diligent effort, Seller oe fails, refuses or neglects to perform this Contract, Buyer may choose to receive a retum of Buyer’s deposit without waiving the right 5 to seek damages or to seek specific performance as per Paragraph 16. Seller will iso be liable to Broker for the full amount of the _ _ brokerage fea. (b) Buyer Default: If Buyer fails to perform this Contract within the time specified, including timely payment of all deposits, Seller may choose to retain and collect all deposits paid and agreed lo tye paid as liquidaled damages or to seel< specific performance as per Paragraph 16; and Broker will, upon demand, receive 50% of all deposits paid and agreed to be paicl (to be split equally among cooperating brokers) up to the full amount of the brokerage fee. rete 211 16, DISPUTE RESOLUTION: This Contract will be construed under Flotida law. All controversies, claims and other matters in 212. question arising out of or relating to this transaction or this Contract or its breach will be seltied as follows: oe aig (a) Disputes conceming entitlement to deposits made and agreed to be made: Buyer and Seller wil have 30 days from the “~ 24 dale conflicting demands are made to attempt to resolve the dispute through mediation. If that fails, Escrow Agent will oe ath subinil the dispute, if so required by Florida law, to Escrow Agent's choice of aibitralion, a Florida’ court or the Florida Ret < 216 Estate Commission. Buyer and Seller will be bound by any resulting settlement or order. . . : Ad (b) All other disputes: Buyer and Seller will have 30 days from the date a dispule arises between them to alleimpt to | ; 218 resolve the matter through mediation, failing which the parties will resolve the dispute through neutral binding arbitration . 219 in the county where the Property is located. The arbitrator may not alter the Contract terms or, award any. remecly not : 220 - provided for in this Contract. The award will be based on the greater weighl of the evidence and will state findings of fact” «= . 221 and the contractual authority on which it is based. if the parties agree to use’ discovery, it will be in accordance with the ce, ‘ 202 Florida Rules of Civil Procedure and the arbitrator, alt dis i 223 estate licensee named in Paragraph 19 will be submitted to ari tration only if the licensee’ zed become a party to the proceeding. This clause will survive closing. resolve all discovery-related disputes. Any disputes with a real 's broker consents in writing to (mint creme aa, subject 10. clouranc 36 distaursing brokerage fo Buyer or Seller, unless the mig inierpleads the subject matter of the ésc 9 “reasonable attorneys’ fees and! 240 “favor of the prevailing party. All clair 2a suv i ) £2 ond Seller " ores ANS O1908 6 olivery of escrow logligence. IWESCIoW leposit_ and ‘will ay’ 18. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seiler to ve P*8 tors as that 33 are important to them and to consult an appropriate professional for legal advice (lor example, interpremiy contracts, determining the effect of laws on the Property and transaction, status of title, foreign investor reporting requirements, etc.) and . a for tax, properly condition, environmental and other specialized advice. Buyer acknowledges that Broker does not resicle in the : 6 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 representalion. Buyer agrees to rely solely on Seller, professional inspectors and govemmental agencies for verification of the Property condition, square footage and facts that materially affect Property value. Buyer ancl Seller respectively will pay all costs and expenses, including reasonable allorneys’ fees at all levels, incurred by Broker and Broker's officers, directors, agents and employees in connection with or arising from Buyer's or Seller's misstalement or failure lo perform contractual obligations. Buyer and Seller hold harmless and release Broker and Broker's officers, directors, 2 agents and employees from all liability for loss or damage based on (1) Buyer's or Seller's misstatement or failure to perforrn contractual obligations; (2) Broker's performance, at Buyer's and/or Seller's request, of any lask beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral, recommendation or retention of any vendor; {3) products or services provided by any vendor; and (4) expenses incurred by any vendor. Buyer and Seller each assume full responsibility for selecting and compensating their respective vendors. This paragraph will not relieve Broker of statutory obligations. For purposes of this paragraph, Broker will be treated as a party to this Contract. This paragraph will survive closing. 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: Seller : and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in separate brokerage ° ‘ 201 agreements wilh the parties and cooperative agreements between the brokers; unless Broker has retained such fees from the 262 escrowed funds. In the absence of such brokerage agreements, closing agent will disburse brokerage fees as indicated below. 263" : 264 Real Estale Licensce Real Estate Licensee 205" : : 266" Broker / Brokerage fee: Broker / Brokerage fee: 267 ADDENDA AND ADDITIONAL TERMS ; cee 7 : 268 20. ADDENDA: The following additional terms are included in addenda and incorporated into this Contract (check if applicable): a a mee 260" 41 A. Condo. Assn. OG. New Mort, Rates {2 M. Housing Older Persons ws. Sale of Buyer's Property SORT ag 270° GB. Homeowners’ Assn. OH. Asis w/Right to inspect 1.N. Unimproved/Ag. Prop. . 1 T. Rezoning ar (C, Seller Financing (11. Self-Inspections 0. Interest-Bearing Account” QU, Assignment : az ab. Mort. Assumption J. Insulation Disclosure pee. Back-up Contract (3 V, Prop. Disclosure Stmt. he fee ie 27a" (2. E. FHA Financing OK. Pre-1978 Housing Stmt. (LBP) © Q. Broker - Pers. Int. in Prop. © Other 27a QF. VA Financing QL. Flood Insurance Reqd. OR. Rentals Q Other 275 21. ADDITIONAL TERMS: - 276" 277" 27 279" 200" ar 2a 283" Qe — ays This is intended to be a legally binding contract. !f not fully understood, seek the advice of an attomey prior to signing. 285° : OFFER AND ACCEPTANCE : wei (Check if applicable: : M Buyer received a. wrilten real property clisctosure statement from Seller before making this Offer.) zat Buyer offers to pureliase the Properly on the above terms and conglitigns. Unless this Contract is signed by Seller and a copy 2m delivered to Buyer no later than 5 -0¢) __1 ggm.xp.m. on Birlh, 257 [LI , this offer will be revoked 2) and Buyer's deposit refunded subject to clearaplfe offfun os . . 2a Dale: CQ ¢ 7 : cae ee ; Date: Y-a 199 Buyer: fe Uihas ) Gut Oo Phone: * Fax: Destin £5 8267 7 | i. pate: Lo BEAT oe 2 Tax GEN: 377-3 Y S37 Date: * Phone: . Fax: : 11 Seller counters Buyer's offer (to accept the counter of + of the acceptance to Seller by 5:00 p.m. on" Printnaine: DAZE /?, Tax iOVSSENO LESH) 2 Print name: AL &. AE "E3" heru eae CE “Tax issn: 3. F7F © Q fea and Seller (___) ) scociation af Fea 30H % y iced ry anct is not intended " purchase are: Z. wa Bess * The following altached items are excluded from the purchase: le YP csssaaanren be REAL Tons® EXHIBIT S ; ath eee eb key (CFSE Jo of — Li 1. SALE AND-PURCHASE: De mea ope and im s\- & iret er TS ) on aa By : t agree to sell and bly on Ihe ldrind wy ‘ondlilions specified below the property cle. : 5 {bom . “ j Address: AS? or tan : . = _ . County: Lex Hen ny J Legal Description: i. i _ a Tax ID No: together with all improvements and attached ilems, including fixtures, built-in furnishings, built-in appliances, ceiling fans, light fixtures, allached walj-tq;walt carpets. | rods, draperies and other window coverings. The only other items included in the The real and personal properly described above as inclucied in the purchase is referred to as the “Property.” Personal properly listed! in Ihis Contract is included in the purchase price, has no contribulory value and is being lett for Seller’ 's convenience. 17 PACE BAND FINANCING : tw 62. PURCHASE PRICE; s_4 7S, © COW payable by Buyer in U. . currency as [ollows: 7 w (a) $_ge2 COO lo clearancy log fo LVS! ¢ by vor Resack- feu! Osx Las, ("Escrow Agent") ; ‘ 2 Signature Name of e ny 2 (b)$_2O C00 Additional deposit 1o be made by Jeane \SQ4, a (c) Tolal Financing (see Paragraph 3 below) (express = a Uollar amount or percentage) : va (dy. Other: : “3, FINANCING: (Check as applicable) ¥f (a) Buyer will pay cash for the Properly with no financing contingency. CLOSING r 4, CLOSING DATE;. OCCUPANCY: This Contract will be Closecf'and the deed and possession delivered on tulyg ‘ i 449 % (fA 5, ev. tora ‘(e) $5 OOD Balance to close (nol including Buyer's closing costs, prepaid ilerns and prorations). All funds’ paict c asi, is} at closing must be paid by locally drawn cashier's check or official bank check, or wired funds. © (b} This Contract is contingent on Buyer qualifying for and obtaining (1} and/or (2) below (Ihe “Financing’) by 2 . {if eft blank then Closing Date or within 30 days from Effeclive Dale, whichever occurs first} ("Financing Pe + (1) commitment for new 1 conventional Lt FHA I VA financing for § or____% of the purchase price’ (plus any applicable PMI, MIP, VA funding Iee) at the prevailing interest rate and loan cosis (if FHA or VA, sce attached! ade tench » 4 (2) Approval for Seller financing or assumption of mortgage {see attached addendum), Buyer will apply for Financing within days from fffective Date (5 days if teft blank) and will timely provicle any and all credil, employment, financial and other information required hy the lender. Either party may cancel this Contract if (i) Buyer, afler using diligence ancl good faith, cannot obtain the Financing, {including meeting the terms of the commitment), or (ji) the Financing is denied because the Properly appraises below the purchase price and either Buyer elects not {o proceed or the parties are unabte to renegoliale the purchase price. Upon cancellation, Buyer will retum all Seller-provided lille eviclence, surveys and association documents anc Buyer's to the Repair Limit. Seller may, within 5 cays from receipt of Buyer's nolice of items thal are’nol i he condition warranted, have a second inspection made by @ professional inspector anc will report repair estimates to Buyer. If the frst and second inspection reports differ and the parties cannot resolve the differences, Buyer and Seller together wit! choose. and equally split the cost of, a third inspector, whose wiilten report will be binding on the parties. Ifthe cost lo. repair warranted items equals or is less than the Repair Limit, Seller will have the repairs made in a workimantike manner by an appropriately licensed person. If the cost to repair warranted items exceeds: the Repair Lint, cancel this Contract unless either parly pays lhe excess or Buyer designaies whicl ej Seller nol exceeding the Repair Limil and accepts the balance of the Property in its “as is" condition, . : - (b) Wood-Destroying Organisms: “Wooc!-destroyiny orgainisny” means arthropod or plant lif, including teil nites; powdler-posl heetles, olchouse borers and wood-decayily fungi, that damages or inlests seasoned wood in a slrucltire excluding fences. Buyer may, al Buyer's expense and prior to closing, have the Propelty inspected! by a Florida-ticonsect pest control huginess to determine the existence of past or present wood-destoying organism intestation and damage caused by infestation, Tithe. inspector lincls eviclence of infestation or damage, Buyer will déliver a’ copy of tid inspector's wrillon report to Seller wilhin 5° a days from the date of the inspection. Seller is nol obligated to teat ‘the Property if all the following apply () Where i no Visite tive infestation, (i) the Property has previously been Wreated, and (i) Seller tfanislers {fall Woatment warranty lo Buyer at” Closing. Otherwise, Seller will have 5 days fom receipt of the iispector's report ‘to Have teporled’ dat i licensed building or general contractor and corrective Wealment estimated by a licensed pest control busin treatinents and repairs made by an appropriately licensed! person al Seller's expense uj (6 the Ternilé Repair Limit! ih fo treat and repair the Properly exceeds the Teritiite Repair Linil, either parly may pay the excess, failing which cilher paily n lay cancel this Contract. Il Buyer fails to limely deliver Ihe insfiector’s wiitlen report, Buyer accepls the Property “as i8” willy regard to wood- destroying oryanisty infestation and darhage, subject lo the maintenance require nent, . : (c} Walk-through Inspection: Buyer may wall through the Properly Solély 1 Verity that Seller hag mad by this Contract and has mel contractual obligations, No‘ other isaties may be 1 ex a result of th inspection. If Buyer lails to concluct this inspection, Seller's répair and miaiiledance obligations w 9. RISK OF LOSS: II any portion of the Properly is daitiaged by fire or ole 45 days trom the Closing Date to, substantially the same Guridition a dit anh rniNGr cae iMher party nay $ lo make al a total’ cost to RATIVE. COMPLAINT. 5T ~ {fe i oslora 3 for Wie E tay accept the Properly “as is” wilh Seller assigning tl ie ailher purty may cancel this Contact. 10. TITLE: Seller will convey marketable tite 16’ thie: guardian deed as appropriate to Seller’s stat cliver, to Buyer Setter’ here! the Property is located ( nly and Option (2) iti Dade County." uror in thi UNI Of the purchase ‘price ar subject only to title excep’ Buyer (__)(_ and Seiler (2 TALS Nov, 10/9 1998 Tiida, : : eed ors LAMEIT > (2) An existing abstract of title froma repulable and exis! Page 3 of 5 sting abstract firm (if firm certified as correct by an existing firm) purporting to be an accurale synopsis of fe lo Ine - Properly recoreled in.the public records of the county where the Property is located and certified to Elfective Date However, if such an abstract is not availavle lo Seller, then a Prior owner's title policy acceplabie to the proposcc insurer as a base for rei suance of coverage. Seller will Pay lor copies of all policy exceptions and an update ina forma acceplalle to Buyer's tlosing agent from the policy effective date and cerlified to Buyer or Buyer's closing agent logether with copies of all docurnents recited in the prior policy and in the update. If a prior poticy is not available Seller then (1) above will be the title evicience. Tille eviclence will be delivered no tater than 10 days before Closing Date wh (b) Title Examination: Buyer will examine the lille evidence anc deliver written notice lo Seller, within 5 days from recaipl o vw tile evidence but no later than closing, of any defects that make the title unmarketable. Seller will have 30 days fron , J receipt of Buyer's nolice of defects (‘Curalive Period”) to cure the defects at Seller's expense. If Sellér cures the defect: “441 within the Curative Period, Seller will deliver wrillen notice to Buyer and the parties will close the transaction on Closinc Ws Date or wilhin 10 days from Buyer's receipt of Seller's notice if Closing Date has passed. If Seller is unable to cure the 476 delects wilhin the Curative Period, Seller will deliver wrillen nolice to Buyer and Buyer will, within 10 days from recaip! o Wé Seller's notice, either cancel this Contract or accept lille wilh existing defects and close the transaction. “cls” (¢) Survey: Buyer may, prior to Closing Date and al Buyer's expense, have the Property surveyed and deliver wiillen notice tc iv Seller, within S days {rom receipt of survey but no later than Closing, of any encroachments on the Properly, encroachments by the ti "Property's improvements on other lands or deed restiction or Zoning violations, Any such encroachment or violation will be teatec ‘1 in the same manner as a lille defect and Buyer's and Seller's obligations will be determined in accordance wilh subparagraph (b} iw? above. If any part of the Property lies seaward! of the coastat Consiruction control line, Seller will provide Buyer with an allicavil or must $e Bt Ba ROL nur Survey as required by law clelinealing the line's location on the Property, unless Buyer waives this requirement in writing. : waa : - MISCELLANEOUS : ts 11. EFFECTIVE DATE; TIME: The "Elective Date" of this Contract is the date cn which the last of the Parties initials or signs the : oh w_ latest offer. Time is of the essence for all provisions of this Contract. All lime periods will be computed if business days (a ~ ey tw? “business day” is every calencar day except Salurday, Sunday and national legal ww Sunday or national legal holiday, performance will be due the next business d two time {meaning in the county where the Properly is located) of the 10 12, NOTICES: All notices will be mace to iat to deliver timely written notice to Seller, uw? render that contingency null and void an holidays). If any deadline falls on a Saturday, bos : 7 : fay. All lime periods will end at 5:00 p.m. local appropriate day. the parties and Broker by mail, Personal clelivery or electronic media, Buyer's failure when such notice is required by this Contract, regarding any contingencies will id the Contract will be construed as if the contingency did not exist. tsa 13. COMPLETE AGREEMENT: This Contract is Ihe entire tat agreement between Buyer ancl Seller. Except for brokerage agreements, no prior or present agreements will bind Buyer, Seller or Broker unless incorporated into this Contract. 9% Modifications of this Contract will not be bind \g unless in wriling, signed ancl delivered by the party to be bouncl. Signatures, § initials, documents referenced in this Contract, counterparts anc wrillen modiilicalions communicated lectronically or on paper 197 will be acceptable for alt purposes, including clelivery, and will be bincling. Handwritten or lypewrillen lerms inserted in or t98 allached lo this Contract prevail over Preprintect terms. ff any provision of this Contract is or becomes invalicl or unenforcealte, 199 all remaining provisions will continue to be fully effective. This Contract will Not be recorded in any public records. 14, ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract without Seller's written consent. The terms “Buyer,” “Seller,” and “Broker” may be singular of plural. This Contract is binding on the heirs, administrators, executors, 2 personal representatives and assigns (f permitted) of Buyer, Seller and Broker, . . DEFAULT AND DISPUTE RESOLUTION 15. DEFAULT: (a) Selter Default: If for any reason other than failure of Seller lo make Seller's tile markelable alter ciligent effort, Seller ils, refuses or neglects to perform this Contact, Buyer may choose lo receive a return of Buyer's cleposil without waiving the right to seek «lamages or to seck specitic performance as per Paragraph 16, Seller will also be liable to Broker for the full amount of the brokerage fee. (b) Buyer Default: {f Buyer fails to perform this Contract within the time specified, including limély payment of ail deposits, Seller may choose to retain and collect all deposits pai! and agreed to be paiict as liquicatect damages or lo seek specific derlormance as per Paragraph 16; and Broker will, upon clemand, receive 50% of all cleposits paid and agreect to be paict (to be 219" split equally among cooperating brokers) up to the full amount of the brokerage Iee.. . 16, DISPUTE RESOLUTION: This Contract will bo construed under Florica law. All controversies, clainis and other matters in question arising oul of or relating to this transaction ‘or this Contract or its breach will be sellled as follows: , . (a) Disputes conceming entitlement to deposits made and agreed to be made: Buyer and Seller will have 30 days from the date contticting demands. are macle 10 atlempt lo resolve the dispute through mediation. If that fails, Escrow Agent will submit the dispute, if se recitired Dy Floricl ww, lo Escrow Agent's choice of arbitration, a Florida cot il or the Florida Real” Estate Commission, Buyer ancl Seller wil be hounc by any resulling seltlement or order, an be te (b} All other disputes: Buyer and Seller will hive 30 days from the dale.a dispute arises between Ihem lo attempt to resolve the matter through mediation, failing which the parties will resolve the dispute througly neutral binding arbitration in the county where the Properly is located. Ti ie“arbitralor may not aller the Contract terms or awarcl any remecly noi provided for in this Contract, The aware! will be based on the greater weight of the evidence and will slate findings of tact and the contractual aulhorily on which it is based. If the parlies agree to use dliscovery, it will be in accordance with the Floricla Rules of Civil Procedie and th 2 arbitrator will resolve liscovery-telated disputes. Any disputes with a real eslate licensee named in Paragraph 19 will be submnitlact to a On only if Hy become a parly to the proceeding, This clause will survive closing. (c) Mediation and Arbitration; Expenses: “Meclialion” is a process in whiclY par Ive a dispute by submitting it to an impartial mediator who 3 the resolution of the dispute but who is nol empowered to impose a seltlement on-the parties. Mediation will be lance wilh the rules of the American Mocliation 7 Mediator ‘agreed on Hy the parlies, The parti fll ecjually divicle the mediation fee, i which the partic ispute by a hog Dinding: or the part Adbitration. wil bey x arbitrator agreed on by ihe parties, Each pariy to attorneys’ ices, and wil sociaion or other costs and expenses, incliclin authorize Escrow Agent to receive, deposi and hold funcs and other them upon. prope ahorization ancl in accordance wilt the ta aw Agent will iol ig w Aguat’s willl subject to clearance, dis bursingy trolcery The parties agree: the Buyer or Seller, ual 3 the tisdalivery i 48 inlerpleads the subject, matter’ I reasonable attorneys" fees and costs to bh “244 favor of the prevailing party, All claims: z Buyer (1. whe 10/98 ‘Contiact or (poss and casts fror : Exiuibit 3 8. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker acivises Buyer and Seller to verify page 4 of 5 that are important to them and to consult an appropriate professional for legal advice (for en. . L cls, determining tie effect of laws on the Property and transaction, slatus of litle, foreign investor reporting requirements, etc.) and » for tax, propetty condition, environmental and other Specialized advice, Buyer acknowledges that Broker does not reside in the 4G Properly and thal alt representations (oral, wrillen or otlicrwise) by Broker are based on Seller representations or public recarcts unless Broker indicates personal verification of Ihe ropresentalion, Buyer agrees to rely solely on Seller, professional inspectors wand govemmental agencies for verification of the Property condition, square footage and facts that materially affect Property 4 value. Buyer ani Seller respectively will pay all cos{s ancl expenses, including reasonable attorneys’ fees at all levels, incurred! by cow Broker and Broker's officers, directors, agents and employees in connection with or arising from Buyer's or Seller's misstatement vest or failure to perform contractual-obligations. Buyer and Selter hold harmless and release Broker and Broker's officers, directors, agents and employees from ail liability for loss or damage based on (1) Buyer's or Seller's misstatement or failure to perform contractual obligations; (2) Broker's performance; at Buyer's and/or Seller's request, of any task beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral, recommendation or retention of any vendor; (3) products oF services provided by any vendor; anc! (4) expenses incurred by any vendor. Buyer and Seller each assume full responsilpility for 26 selecting and compensating their respective vendors. This Paragraph will not relieve Broker of stalulory obligations. For purposes 287 of this paragraph, Broker will be treated as a party to this Contract. This paragraph will survive closing. va 19. BROKERS: The licensee(s) and brokerage(s} named below are colleclively referred to as “Broker.” Seller and Buyer’ 26, acknowledge that the brolerage(s) named below are the procuring cause of this transaction. Instruction to Closing Agent: Seller 2 and Buyer direct closing agent to disburse at closing the full amount of the brokerage fees as specified in separate brokerage ™t_agreements wilh the parties and cooperalive agreements between the brokers, unless Broker has retained such fees from the 202 escrowed fyncls. In the alysence of such brokerage agreements, closing soe yen di ined brokerage fees as indicated below. : - oy aoasN De Hei IAL y Real Estate Licensee we Ketort Keely fisfon Loe VAT Kee Mey Mgson Liye, 266" Broker / Brokerage fee: « Broker / Brokerage fee: : aor ADDENDA AND ADDITIONAL TERMS 2 20. ADDENDA: The following adclitional terms are included! in aclclenda andl incorporated into this Contract (check if appticable): 200" 11 A. Condo. Assn, 1 G. New Mort. Rates OM. Housing Olcler Persons S. Sale of Buyer's Properly 2m Ms. Homeowners’ Assn. OH. As Is w/Right to Inspect ON, Unimproved/Ag. Prop. (2 T. Rezoning am 1 &, Soller Financing 1, Self-Inspections 19 0, Interest-Bearing Account WU. Assignment i 27 1.0. Mort. Assumption — J. Ingulation Disclosure 14 P. Back-up Contract 11 V. Prop, Disclosure Stint. 27a 4 E. FHA Financing OK, Pre-1978 Housing Sim. (LBP) © Q. Broker - Pers. int. in Prop. - ( Other a (QF. VA Financing GL. Flood Insurance Reqd. 2 R. Rentals _ . Q Other 27s" 21, ADDITIONAL TERMS: Deb This is intended to be a legally binding contraét. If not fully understood, see! zea Jo... OFFER AND ACCEPTANCE : . me “vw” (Check if applicable: (1 Buyer received a written real properly disclosure statement from Seller before making this Offer.) 2st Buyer offers to purchase the Properly on the above terms and conditions. Unless this Contract is signed by Seller ancl a copy zar delivered to Buyer no later than. J p.m. on . . this offer will be revoked am and Buyer’s deposit refuncled subject to clearfineg oy nds. Sf fit {the advice of an attomey prior to signing. Buyer! 2 Tax ID/SSN: WN Z43= DB” A &£ 4 aft t. Tax IDSSN: L720 4 Yes Alpe Ct non ee resS. OG HegPecvaville ; Th. 3 PIS svi 2 enullatS) 2h - 1939. = pee ts | 7 Dale: _ She L 7% zn Seller: Paint nan air Datos _ 5fx)ag Seller: i Print nanie: 1 ¥ ; ‘ ore Pl wine $50) C54 F3uS ° Soe < De _ Pak: __ : : Dig in Fl SAFEL + |} Seller counters Buyer’s offer (to accept the counter offer, Buyer mu “nt” of the accoplance to Seller by 5:00 on _ Tax IDSSN 322.37 - SH: Tax /SEN:S 3. SAK AEE Ah MfO,L EL. Dp. ae : - Exhibil 3 ale and Purchase Contract: Comprehensive page 5 of 5 OF REALTORS® be incorporatectinto the Contract between Kon + & ‘fea, B [ rey, Wg sry AIC {Buyer) concerning the Property describ _. a {Sia Skb-e 1D) sie only if initialed by all parties: - . ASSOCIATION DISCLOSURES . wo (LL y-¢ ae ) A. Condominium Association: The Properly is a condominium which is subject to the rules _ § “and regulations of a condominium association ("Association"). Seller's warranty under Paragraph 8 of the Contract extends 2 “only to the unit and not to any conmon elements or any other property. iS “a (1) Documents: Seller will, at Seller's expense, cleliver to Buyer the condominium documents referenced in subparagraph 9 (7) below no later than 3 days from Effective Date {if Buyer has already received the required documents, inclicale receipt by i) inilialing here ( d¢ ) Dale received . ). If this Contract does not close, Buyer will te immediately return the documents to Seller, failing which Buyer authorizes Escrow Agent to reimburse Seller §___ from the deposit for the cost of the documents. . (2) Association Approval: If the conclominium declaration or bylaws give the purchaser, this Contract is contingent on such approval by the Association. Bu th from Effective Date and use diligent effort to obtain approval, including making personal appearances if required, Buyer ancl 6 Seller will sign and deliver any documents required by the Association to complete the transfer. If Buyer is not approved, this uv Contract will terminate and Seller will return Buyer's cleposit unless this Contract provides otherwise. us (3) Right of First Refusal: If the Association has a fight of first refusal lo buy the Property, this Contract is conlingent on the Association to” ‘deciding not to exercise such right. Seller wil, within 3 days from receipt of the Association's decision, give Buyer wrilten nolice of the “on” decision. If the Association exercises its right of first refusal, this Contract wil lerminate, Buyer's deposil wil be refunded unless this a nN Contract provides otherwise and Seller will pay Broker's {ull commission al closing in recognition that Broker procured the sale. — 7? (4) Application/Transfer Fees: Buyer will pay any application and/or transfer fees charged by the Association. uw (5) Parking: Selter will assign to Buyer al closing parking space(s) _. . : ot a (6) Assessments and Recreational Area Rent: Seller will pay all maintenance and similar periodic fees and rents on any recreational cot an areas current as of Closing Date. If the Board of Administration imposes a special assessment for improvements, worl or services “6 that are substantially completed as of Effective Date, Seller wil Pay the full assessment. Buyer will pay all other assessments. Seller ~ represents that he/she is not aware of any penclirig assessment except as follows: Association the right to approve Buyer as a yer will apply for approval within days Seller represents that he/she is not aware of Pending or anticipated litigation except as follows: ‘ a . Seller represents thal the current maintenance fee is: per 10 $_. per _to $ per to : and that there !2 is Q is not a Recreation or Land Lease with the Property. If there is a recreation or land lease, the current payment is §. per month. os Sa Eek ’ (7) Buyer Acknowledgement / Seller Disclosure: (Check whichever applies) © ; . an UW THE BUYER HEREBY ACKNOWLEDGES THAT BUYER HAS BEEN PROVIDED A CURRENT COPY OF THE DECLARATION OF CONDOMINIUM, ARTICLES OF INCORPORATION OF THE ASSOCIATION, BYLAWS, RULES OF THE 40 ASSOCIATION, A COPY OF THE MOST RECENT YEAR-END FINANCIAL INFORMATION AND THE QUESTION AND 4 ANSWER SHEET MORE THAN 3 DAYS, EXCLUDING SATURDAYS, SUNDAYS AND LEGAL HOLIDAYS, PRIOR TO 12 EXECUTION OF THIS CONTRACT. ; . te (THIS AGREEMENT 1S VOIDABLLE BY BUYER BY u CANCEL. WITHIN 3 DAYS, EXCLUDING. “ EXECUTION OF THIS AGREEMENT BY THE BUYER AND RECEIPT BY BUYER OF A CURRENT COPY OF TI I” COPY OF THE MOST RECENT YEAR REQUESTED IN WRITING. ANY PURPO MAY EXTEND THE TIME FOR CLOSI ic DANS iD if) VOID MIS AGRPEMENT WILL TERMI é ; . an sore a he pe B. Mandatory Homeowners’ Association: eller's warranty under Paragraph 8 of the als mite to the Property and does not extent the P 49 common areas or faciliies described below. The following dues ” anily charged by ihe homeowners’ associali DIN WRITING S7 OF = RATIVE COMPLAINT. nen Se per Yeo- lo ~ Holiday Shece & bele's : kL 0. A. Tikes. feos per to = —_ ° per lo : ee seule sso Qo Disclosure Summary for (name of community). (1) As a purchaser of properly in this community, Bayer will be obligated to be a imember of a homeowners’ association. nls Governing the use and’ occupancy of properties in this commu 8: is sments are subject {o periodic changes. avement ti ly Completed as of Effective Bale, Seller will pay is nol aware of any pencling assessment (2) There have been or will be recorded rest (3) Buyer will be obligalcd. to ‘pay assessr the association imposes a special assessment the assessinent, Buyer will pay all other ass except as follows: 3 : Buyer's failure to pay hese assessmonis could (4) ‘There 0 is is not, an obligation to pay’ rant o obligation of Hrembership in the homeowne obligation is $. ~~ — (5) The restrictive covenants 1 cai (6) thie s shoulcbrot on the Prop ise lees ly. for recreational ilties as an the current. to the'cove doct meus are mn ; “prepa VAS yocatod . es Buyar He Ce ed tof this sum oy

Docket for Case No: 01-002919PL

Issue Date	Proceedings
Aug. 21, 2001	Order Closing File issued. CASE CLOSED.
Aug. 17, 2001	Motion to Relinquish Jurisdiction (filed by Petitioner via facsimile).
Aug. 13, 2001	Order of Pre-hearing Instructions issued.
Aug. 13, 2001	Notice of Hearing issued (hearing set for September 24, 2001; 10:00 a.m.; Destin, FL).
Jul. 31, 2001	Unilateral Response to Initial Order (filed by Petitioner via facsimile).
Jul. 24, 2001	Initial Order issued.
Jul. 23, 2001	Notice of Appearance (filed by H. Rutecki).
Jul. 23, 2001	Election of Rights filed.
Jul. 23, 2001	Amended Administrative Complaint filed.
Jul. 23, 2001	Administrative Complaint filed.
Jul. 23, 2001	Agency referral filed.