‘ STATE OF FLORIDA ‘ DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATY FLORIDA REAL ESTATE COMMISSION mS FLORIDA DEPARTMENT OF BUSINESS AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, Petitioner, ; OD I>64- vs. FDBPR Case N° 200180152 200180153 JOCK VERNON RANKIN AND RANKIN REALTY, INC. Respondents. / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (“Petitioner”) files this Administrative Complaint against Jock Vernon Rankin and Rankin Realty, Inc. (“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 Section 20.165 and Chapters 120, 455 and 475, of the Florida Statutes and the rules promulgated pursuant thereto. . 2. Respondent Jock Vernon Rankin is and was at all times material hereto a licensed Florida real estate broker, issued license number 604424 in accordance with Chapter 475 of the Florida Statutes. The last license issued was as a broker at Rankin Realty, Inc., 1815 W. Howard Street, Live Oak, Florida 32064. te FDBPR v. Jock Vernon Rankin Case No. 200180152 Administrative Complaint 3. Respondent Rankin Realty, Inc. is and was at all times material hereto a corporation registered as a Florida real estate broker having been issued license number 1004226 in accordance with Chapter 475 of the Florida Statutes. The last license issued was at the address of 1815 W. Howard Street, Live Oak, Florida 32064. 4. Atall times material hereto, Respondent Jock Vernon Rankin was licensed and operating as qualifying broker and officer of Respondent Rankin Realty, Inc. 5. Respondents’ salesperson facilitated a purchase and sale contract between Buyer and Seller. 6. Pursuant to the contract, Respondents received a $500.00 earmest money deposit from Buyer. 7. Respondents placed the $500.00 deposit into their escrow account. 8. The transaction failed to closed because the lender denied Buyer financing. 9. On or about October 2000, Buyer placed a demand on the deposit. 10. During the course of an official interview, Respondents admitted to Petitioner's investigator that the Sellers did not place a demand on the deposit. 11. Respondents did not attempt to contact Sellers regarding the deposit. 12. Respondents did not request an escrow disbursement order from Florida Real Estate Commission. 13. On or about January 17, 2001, Buyer filed a complaint against Respondents with Petitioner. FDBPR v. Jock Vernon Rankin Case No. 200180152 Administrative Complaint 14. On or about April 3, 2001, Petitioner notified Respondents of Buyer's complaint. 15. Just twenty days later, Respondents returned the $500.00 deposit to Buyer. COUNT I Based upon the foregoing, Respondent Jock Vernon Rankin is guilty of failure to account or deliver funds in violation of Section 475.25(1)(d)1., Florida Statutes. COUNT I Based upon the foregoing, Respondent Jock Vernon Rankin is guilty of fraud, - misrepresentation, concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT I Based upon the foregoing, Respondent Jock Vernon Rankin is guilty of failure to provide written notification to the Commission within fifteen business days of the last party’s demand and failure to institute one of the settlement procedures as set forth in Section 475.25(1)(d)1., Florida Statutes, within thirty business days after the last demand in violation of Rule 61J2-10.032(1)(a) of the Flonda Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes. COUNT IV Based upon the foregoing, Respondent Jock Vernon Rankin is guilty of having retained a deposit without having a right to that deposit in violation of Rule 61J2-14.011 of the Florida ‘FDBPR v. Jock Vernon Rankin Case No. 200180152 Administrative Complaint Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes. COUNT V Based upon the foregoing, Respondent Rankin Realty, Inc. is guilty of failure to account or deliver funds in violation of Section 475.25(1)(d)1., Florida Statutes. COUNT VI Based upon the foregoing, Respondent Rankin Realty, Inc. is guilty of fraud, misrepresentation, * concealment, false promises, false pretenses, dishonest dealing by trick, scheme or device, culpable negligence, or breach of trust in any business transaction in violation of Section 475.25(1)(b), Florida Statutes. COUNT Vi Based upon the foregoing, Respondent Rankin Realty, Inc. is guilty of failure to provide written notification to the Commission within fifteen business days of the last party’s demand and failure to institute one of the settlement procedures as set forth in Section 475.25(1)(d)1., Florida Statutes, within thirty business days after the last demand in violation of Rule 6152-10.032(1)(a) of the Florida Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes. COUNT VII Based upon the foregoing, Respondent Rankin Realty, Inc. is guilty of having retained a deposit without having a right to that deposit in violation of Rule 61J2-14.011 of the Florida Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes. FDBPR v. Jock Vernon Rankin Case No. 200180152 Admumnistrative 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 may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license or registration or permit; suspension of the license, registration or permit for a period not to exceed ten (10) years, imposition of an administrative fine ° of up to $1,000 for each count or offense; imposition of investigative costs; issuance of a Teprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant or permitee to complete and pass additional real estate education courses; publication; or any combination of the foregoing which may apply. See Section 475.25(1), Florida Statutes (2001) and Florida Administrative Code Rule 61J2-24.001. The penalties which may be imposed for violation(s) of Chapter 455 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license, registration, or permit; suspension of the license, registration, or permit for a period not to exceed ten (10) years; imposition of an administrative fine of up to $5,000 — for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant, or permitee to complete and pass additional real estate education courses; publication; restriction of practice; "injunctive or mandamus relief; imposition of a cease and desist order; or any combination of the foregoing which may apply. See Section 455.227, Florida Statutes (2001) and Florida er FDBPR v. Jock Vernon Rankin Case No. 200180152 Administrative Complaint Administrative Code Rule 61J2-24.001. SIGNED this 20 dayot_SaQeyermprr , 2002. nt of Business and Professional Regulation By: Director, Division of Real Estate ATTORNEY FOR PETITIONER LORENZO LEVEL Florida Bar N° 0165123 Senior Attorney, Real Estate 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 LL/ PCP: MV/HF 11/02 NOTICE TO RESPONDENTS PLEASE BE ADVISED that mediation under Section 120.573 of the Florida Statutes, is not available for administrative disputes involving this type of agency action. PLEASE BE FURTHER ADVISED that pursuant to this Administrative Complaint you may request, within the time proscribed, a hearing to be conducted in this matter in accordance with Sections 120.569 and 120.57 of the Florida Statutes; that you have a FDBPR v. Jock Vernon Rankin Case No. 200180152 Administrative Complaint 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. .

Docket for Case No: 03-002362