30 Top EI Shag ff py ian Had : Z STATE OF FLORIDA Mb SEP 4) Ali:s DEPARTMENT OF BUSINESS AND PROFESSIONAL REGUL TION FLORIDA REAL ESTATE COMMISSIONS; Hk Hs) ON OF LAR} FLORIDA DEPARTMENT OF BUSINESS ; AND PROFESSIONAL REGULATION, DIVISION OF REAL ESTATE, vy A Petitioner, i) (y ° Dd vs. FDBPR Case N° 2002002560 © 2002002559 JEFF MORR AND CHARLES GOODMAN, Respondents, / ADMINISTRATIVE COMPLAINT State of Florida, Department of Business and Professional Regulation, Division of Real Estate (“Petitioner”) files this Administrative Complaint against Jeff Morr and Charles Goodman (“Respondent”) and alleges: ESSENTIAL ALLEGATIONS OF MATERIAL FACT 1. Petitioner is a state government licensing and regulatory agency charged with the responsibility and duty to prosecute Administrative Complaints pursuant to the laws of the State of Florida, in particular Section 20.165 and Chapters 120, 455 and 475, of the Florida Statutes and the rules promulgated pursuant thereto. 2. Respondent Jeff Morr is and was at ali times material hereto a licensed Florida real estate broker, issued license number 413956 in accordance with Chapter 475 of the Florida Statutes. The last license issued was as a broker with Majestic Properties, Inc., 1827 Sunset Harbour Drive, Miami Beach, Florida 33139. FDBPR v. Jeff Morr Case No. 2002002560 Administrative Complaint 3. Respondent Charles Goodman is and was at all times material hereto a licensed Florida real estate sales associate, issued license number 687384 in accordance with Chapter 475 of the Florida Statutes. The last license issued was as an involuntary inactive sales associate at 1500 Pennsylvania Avenue #11, Miami Beach, Florida 33139, ) 4, At all times material, Respondent Morr was the qualified broker for Majestic Properties, Inc., a corporation recognized under Florida law. 5. On or about July 3, 2001, Respondents facilitated a contract for purchase and sale between Angelo Pizzuto (“Seller”) and Liliana Herrera (“Buyer”) regarding real property commonly known as 465 Ocean Drive #303 Miami Beach, Florida. A copy of the contract is attached and incorporated as Administrative Complaint Exhibit 1. | 6, The contract required Buyer to pay a $1000 earnest money deposit (“Deposit 1”) on July 3, 2001 and required Buyer to make an additional $12,000 deposit (“Deposit 2”) by July 18, 2001. 7. On or about July 3, 2001, pursuant to the terms of the contract, Buyer delivered Deposit 1, a check for $1000 to Respondents. 8. Respondent Morr did not place the Deposit 1 into an escrow or trust account until July 12, 2001. 9. Buyer failed to deliver Deposit 2 to Respondents on or before July 18, 2001. 10. At all times material, Respondents failed to notify Seller that they had not received Deposit 2. Nn FDBPR v. Jeff Morr Case No. 2002002560 Administrative Complaint 11. The contract failed to close. 12. On or about July 31, 2001, Seller placed a demand on the deposit. 13. On or about July 31, 2001, Buyer placed a demand on the deposit. 14. On or about October 5, 2001, Respondent Morr notified the Florida Real Estate Commission of the dispute, and requested an Escrow Disbursement Order. COUNT I Based upon the foregoing, Respondent Charles Goodman is guilty of failure to comply with duties of the brokerage relationship of Section 475 .278, Florida Statutes, and, therefore, is in violation of Section 475.25(1)(e), Florida Statutes. COUNT II Based upon the foregoing, Respondent Jeff Morr is guilty of failure to comply with duties of the brokerage relationship of Section 475.278, Florida Statutes, and, therefore, is in violation of Section 475.25(1)(e), Florida Statutes. COUNT III Based upon the foregoing, Respondent Jeff Morr is guilty of failure to immediately deposit trust funds in violation of Rule 61J2-14.010 of the Florida Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes, COUNT IV Based upon the foregoing, Respondent Jeff Morr is guilty of failure to provide written FDBPR v. Jeff Morr Case No. 2002002560 Administrative Complaint 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 thinty business days after the last demand in violation of Rule 61J2-10.032(1)(a) of the Florida Administrative Code and, therefore, in violation of Section 475.25(1)(e), Florida Statutes. WHEREFORE, Petitioner respectfully requests the Florida Real Estate Commission, or the Department of Business and Professional Regulation, as may be appropriate, to issue a Final Order as final agency action finding the Respondent(s) guilty as charged. The penalties which may be imposed for violation(s) of Chapter 475 of the Florida Statutes, depending upon the severity of the offense(s), include: revocation of the license or registration or permit; suspension of the license, registration or permit for a period not to exceed ten (10) years, imposition of an administrative fine of up to $1,000 for each count or offense; imposition of investigative costs; issuance of a reprimand; imposition of probation subject to terms including, but not limited to, requiring the licensee, registrant or permitee to complete and pass additional real estate education courses; publication; or any combination of the foregoing which may apply. See Section 475.25(1), Florida Statutes and Florida Administrative Code Rule 6132-24.001. 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 FDBPR vy. Jeff Morr Case No. 2002002560 Administrative Complaint 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 and Florida Administrative Code Rule 61J2-24.001. SIGNED this___\X day of _ Keloe aay , 2004. Department of Business and Professional Regulation By: Jason Steele Director, Division of Real Estate —a\iajore w FDBPR v. Jeff Morr Case No. 2002002560 Administrative Complaint ATTORNEY FOR PETITIONER CHRISTOPHER J. DECOSTA Senior Attorney Florida Bar N° 00271410 Division of Real Estate Department of Business and Professional Regulation, Legal Section - Suite N 801 Hurston Bldg. North Tower 400 West Robinson Street Orlando, Florida 32801-1757 (407) 481-5632 (407) 317-7260 FAX CD/k PCP: BB/PH 2/04 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 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. JuUL-g@g-@i Gi:s1 PM is ev7d Ar AGO YW CUO, P.a2 BEE 3 3 -$RRe8 FEBRS 1, ANG due AzseciaBen of TORS® All Rights Roozrved [ee o XHIBIT__L PAGE Majomtis Pissictide, lac. 1027 Supa Hatiour Or, Miami Boas FL. 33139 AD oar Fhone: 305.534.1959 Fox: 305,695,)997 ° oyril &, maneil ed ~The following attached itams are excledad fram the purchase: > RERIERE GH AND PURCHASE: ANGELO Prlzguro £. SALE and -___LILIANA M. wERREa ~~ Cee) saree tu pel! and buy on the testis and conditions specified below the property deseibod aay ; reer) SS! : A65 GCEAN DRIVE #303, MTamT BEACH. Yr, 99139 __ Tonal roan a, COL: MAN Ee Legal Description: ~-HOXAL ATLAWTIC COMPO ONTs 303 THIRD FLOOR, UNDIV ten Se cCSnoN ee Tax ID No: _ ioe Gs en revers and alfeched jlems, Including fixtures, built-in fumishings, builll-in appllancas, ceiling fans, res, .atlached well-towell carpeting, reds, draperies end other window coverings. The only other items included jn the purchase ae ALL MAJOR APPLIANCES AND FIXTURES, Tiron — ~ rrp __ The teal and persovial property desaribed above as included in the purchasy s reforred to as tha “Propery.” Personal propery. f . a 4 A nal - licted in this Contract Is included in the purchaee ptlce, hae no contibutory value and is baling left for Sellers convonience. ; PRICE AND FINANCING 2, PURCHASE PRICE: $130,000.00 payable by Buyer In U.S, currency as follows: "aps ‘4,900.00 Deposit received (checks ara subject to clearance) uly 3 ,2001 by ; for MAJESTIC PROPERTIES INC. ("Escrow Agent’) Sigshakys lame otcompany 6) $ ..__ 22,000.00 Additional deposit tobe madeby____ July 18, 2002 O01, of days trem Effecttve Date. ; (} dea tbo.ao Total Financing (smo Paragraph 3 below) (exprass as a dollar amount of percentage) @s ” Other: — {) $__ BALANCE © Batanea fo close (not including Buyer's closing costs, prepaid itema and prorations). All funds Pald at dosing mustbe pald by locally drawn cashler’s check, offtelal bank check or Wired funds, 3. FINANCING: (Ghack as applicable) C) (a) Buyer will pay oosh for the Proparty with no financing contingency. & (b) This Contract Is contingent on Buyer qualifying for and obtaining (1) andlor (2) balow (the *Finarielng”) bye ep ees (if felt blank then Closing Bate or within 30 days from Effective Data, whichevor occurs first} (*Financing Pestod’). @ (1) A commitment for new (conventional BAFHAQ) VA financing for $104,000.00 of 80,090 _% of the purchase price (plus any applicable PMI, MIF, VA funcing fea) at the prevaifing interest rate and loan costs (if FHA or VA, seq attached addendum), {3 (2) Approvel lor Seller financing er agsumption of marigage (sae attached addendum). Buyer will appty for Financing within 13 days from Elfective Dato if lett blank) and will timely provide any and all credit, employment, financial ad ates intormaticn required by the tendor. tither barty may canal this Convent ft (\) Buyer, using diligence and good felth, cannot obtain the Finanging within the Financing Period cr cannot maat tha toma of the commitment Closing Date, or fi) the Financlng is denied becauté the Properly appraise: below tine purchase plice and either Buyer ’ q@lects not fo prosesd or the parfles are unable to nenegotiate the purchase price. Upon cancellation, Buyer wil ratum ali Seles _ provided title avidenice, curveys. and association documents and Buyer's deposti(s) will ba retumed after Escrow Agant receives * Propar autherzation from all Interested parties. “oy CLOSING 4,CLOSING DATE; OCCUPANCY: Thie Contrac! will be clased and the dead and possasefon delivered on August 3, 3001 (Clasing’ Divte"}, unless extended by other provisions of this Contract The Property will bg swept clean and Seller’s persona lems femayed on. ar before Closing Date. if on Closing Date insurance underwtifing la suspended, Buyer may postpone cloging up to § days afer ‘the insurance suspansion is lifted. 5. CLOSING PROCEDURE: COSTS: Cloging will take plase in tha county where tha Property is located and may be conducted by elsctonic means, If fille Insirance infures Buyer for illle defects arising between tha Wile binder effective dale and recordng of I Agent wil disburssjat closing the net sale proceeds to Seller and brokerage fecs to Broker as per Paragraph and Seller (___..) aeinowierdge receipt of a copy of this page, which is Page 1 of 6 Pages. Y reduced 2h ZipForai™ by REE Rornahtet, LLC 1828 Fitaan Mlle Rood, Coton Towable Micnujon aio, om) sessnof rar PAGE PuL-Ba-Gi @1:52 PM Usoure BF @teuv ypoew vm reas 48, aekiton ‘Wp athor expenses provided In thls Contecl, Seller and Buyer ufl ; the coats ind , a Pras Costs: elet wil Pay lBxos a surtanes on the deed and recording tees for documets needed Io cure the sates amount equal ‘b tha last estimats of Te raseoasnent Gnee ‘inprovement is substanialy competed as of Ffecth a Beene Oe. ° G) Buyer Corts: Buyer will pay taxed and reconing fees on noles and mortgages: recording fees on the deed and ineurance: home waranty plant? Other panding special ansasement flians: lender's tile pollay, inspections; aurvey; fload _ {¢) Tita Evidence and Ineurance: Cheek (7) ar (2): ° a —- 2 U) Seller wil previde @ Paragraph. 10(a)(1) owner's file inuranca commitment a3 tite evidence, (3 Seller () Buyer will select thd file agent, (J Setter Cy Buyer will for i i axamiral en ary Wilner ta oer cbengieee yer pay the owner's title policy, search, ination and felated charges ) @) Seller. wil provide title evidenca ae spocified in Paragraph 10(a}(2}.7y Seller &) Buyer will pay for the owner's lite Poicy apd selegi the ile agent, Seller will pay fees for lite saarches r to closing, Including lax search and lien Search fess, fd Buyer will pay tess for fide searches attat closing (il any}, lle exam ination fees and closing fees. {8} ProraSens: The following Iams wil ba made curent (f applicable) ated promiled as ef the day before Closing Dele: real estate tes, interest, bonds, assessments, agsociation Teas, Insurance, rents and other current oxpentés and fevenues of ihe Property. If. faxes and sssessments for the cunent yeat pannat be determined, the pravious years rates wil he used wih Pear Wiikholing: B and improvement. Belver ts reponse for property tax Increases due gm change In ownerstin ch Y ng: ani ex wi ccnp wi Foreign Investment in Property Tax which may reqults Beller to provides additonal cash at ciocing ff Balter isa yg person’ as ined by fedaral law. Pet ¥ . i ‘ ROPERTY N | 6. INSPECTION PERIODS: Buyer wil complete any anda rapactone ce oper by __duty 19 ___, 2002 _ : (within 10 days from Effective Date if feft Dank) (Inspection Period’); end the walk-through inepeciion on the day before | Cfpsing Date or any other Ume'agresabia to the parties, >. REAL PROPERTY DISCLOSURE: Seller represents thet Seller does nat know of any facts that materlally affect the value of the Property, ‘inchiding violations of governmental laws, rules and regltlations, other than those that Buyer can readily observe (>) Radon Gas: Radon is a neturally occuring radioattive gos that, when it hes accumulated in a building in suffiolont quantities, ‘may prosent health risks if persons who are exposed to il over time, Levele of radon that exoaed federal and stale guidetines hava been found in buildings in Florida. Addittonal information regarding tadon and radeon fesilng may be P ‘ ae Oe hous er recuca the TRON parson test the Pro for radon. If the radon exceeds seoaptabie EPA 8, f may 8 ra level to an Se CEPR ce falling (ce) Flaod Zone: er is acvised to verfy by survey, with the lender and with appropriate coverment agencies whith fod - zona the Property fs in, whether flond insurance is requited and what restrictons apply to improving the md rebuilding “in ‘the -avent of casualty. 1! -the Proparly Is In a Special Flood Hazard Area or Coastal High Hazard arga ard fhe buildings ‘jars below the minimum flood elevation, Buyer may canal thls Contract by delivering writen notica to Seller Dats, tating which Buyer acccpts existing elevation of the buildings and zone designation of the Property. . id) Homeowners’ Association: jf membershin in a homeowners’ aasoolalion Ie mandatory, an assoctetion disclosure sare fls' attached and Incorporated Into ths Contract BUYER SHOULD NOT SIGN THIS CONTRACT UNTIL BUYER HAS'REGEIVED AND READ THE DISCLOSURE SUMMARY, & As ts With Right to Inepoct: Seller makes no warantice other than marketablily of tila. Selter will keap the Property In the same condiion from Effective Date ynti closiny, except for normal wear and fear (rnaiiitenance requirement”), and will __ convey the Property in its “as is condition with ne obligation to make any tepals. ; : -() ‘frispéstion Right; Seller Obligations: Buyer may, at Buyer's expense, conduct professional and walk-through inspections . a3 described below. Hf Buyer falls to fimely conduct any inspectlon which Buyer Is eniitled to make under this parageph, ‘Buyer walves the right to the Inspection and socepts the Properly "as is” Seller wil provide access and uflitles for Buyer's seo inspections. Buyer will repalt al damages to the Property resulling fom the inspections and return ths Property to Ths pre- wotectovel special holds upational leanse. ¢t se essional Inspections: The igpaction(s) will be by a pereon who es in and holds an cecupaional licanse 408 Dea Se cact hore insoucne or wn hls lode Eeesa to rept and mdnain he tere ispacted, : 4° fe) Canc ation Right: Buyer may cancel this Comfract by written patica to Sellar within _____ days (within 5 days Hf tefl blank) fram “the, end of the Inspection Parlod If the estimated cast of treatment and ‘tepaire determinad to be necessary by Buyer is eGR g 2 : . For the cancelation to be effective, Buyer must Include in tha written notice a copy of the aor Buyer (___Jand Seller a ) (_..) acknowledge receipt of a copy of this pada, whieh Is Page 2 of 6 Pages. ASSES 4 ; S200 Florida Age OfREALTORS® Afi Rights Rencwod wi t exyipit___t pace b i AT a mage . Proauned with ZipPern™ by RE Formeiat, LLC 18025 Filan Mi: Rend, Charon Teed, Uichigan amGa5, (GOO) AAMBAGS; ey or VrdbeseaIPX wuL-es-e1 @1:SS5 Pm Ds prTe FF tou te ~~ ee obs ingpactor's valiten feport, Hf afiy, and tegtment end vepalr estimates trom the Inepestar or parsanis, holding an appropriate Flida license lio repair the lems Inspected, Any condlilons nol reporiad in a timely manner: wil a Geemad acceptable , ~ 4 t ie} ‘Wallethrough Inspection: Buyer may watk through the rty golly ta vorty that Seller has fulfiled the contractual obbyations, No other issues may be realesd ac a result ct tha walk-through ingpection 9, RISK GF LOSS: if any portion of the’ Propery 1s damaged by fire ef other castelly befers elesing and can be nactored within’ 45 days, from tha Closing Date to substanfally tha sama conditon es it wes on Effective Dats, Seller will, at Sellers expense, nesefe the Properly and the Closing ale will be extended ancordingly. ff the restoration cannat be completed in time, Buyar may eocept the Properly “as [s" vith Seller assigning the insurance proceeds for the Property to Buyer at cloaing, falfing which effha party may cance! this Contract. Tne 1O.TITLE: Seiler wil convey marketable fide to the Property by stalulory warranty deed or trustee, personal represcntativa or guardian deed as appropriate to Seller's status. rye: closing, dullver tp Buyer, Seller's choice of one of thevfollawing types of tila evidence, whish must be generally accepted In the county! whera the Pyoparty is located (specify in Paragraph Se) the ssincied type). Sefler will use option’ (1) in Palm (2 An ‘existing abstract of title from a repiltable and existing abstract fim (f firm 1 not existing, then abstract must be catifled as correct by an existing firm) purporing to be an acturate gynonsis of the Instruments affecting lite to he Property recorded in tha public fecorde ef thea county where the Property !s Ieested and cerfified to Effective Date. However if such af abstract is not available to Seller, thon 8 prior owmer’s title palicy acceptable to the proposed insurer as a base for relssuance of cowrage, Soller will pay for conles of all palley exceptions and af updata in a fonnal acceptable to Buyer's slosing agant from the policy Gifectve date and cerlified to Buyer or Buyer's closing egerit, tegethar with coples of all documents regitad in the prior polly and in the update. ff a prior policy ia not available to Seller pen (1) above wil be the tila evidence. Tile evidence will ba delivered no later than 10 days before Closing Dale Examination: Buyer wil exartin the (le evidence and dofiver wien netco to Seiler, within 5 days from receipt of receipt of Buyer's notice of defects (Curative Period’) to cure tha defacts at Seller's expense. If Selter cures the defects within the’ Guratva Pariod, Sater wil deliver wrlttan nolice bo Buyer and tha parties wil closé the transaction on Closing Date or within 10 days from Buyer's teceipt of Sellers notice if Closing Dato has passed. if Seller | unable ta cura the defects within the Curative Period, Seller will defver witten hotiea to Buyer and Buyer wil, within 10 cays from tecalpt of Belles ndtics, elttier cancel this Contract or accept fitta with existing dafecis and close the transaction. (¢} Survey: Buyer may, prior to Closing Date and at Buyers expense, have tha Properly surveyed and daliyer writen notice io Selfor, within § days from receipt of survey bul no later than closing, of any encmachmenta on the Property, encroachments by the Property's improvements on other lahds or deed restriction or zoning violations, Any such 199 ensmachment er vistatlon will be fregled in the same manner a8 4 tile defect and Buyer's and Seller's obligations wil be 6, determined In accordance wih subparagraph (bp above, If iy part of the Property lies seaward of the coastal constuction 181 control Uh, Galler will provide Buyer with an affidavit or suey as required by law delineating tha line's ineation on the EZR REABARE SHRM ANKE HH HK WH, a property, unless Buyer waives this requirement in wnting. 1. | . MISCELLANEOUS : te 11. GFFECTIVE DATE: TIME: The “Effective Date’ of this Conitact is the date on which the last of the partes initials or signs 1s ‘the latest offer. Tima la of the essence for all provisions of this Cantract. All time petiods will be computed in business days (a 165 “business Gay’ Is every calendar day exoent Saturday, Sunday and national legal holidays). ft any deadline felis on a Saturday, ise ‘Sunday or pefional legal holiday, parformance wit be due the nax| business day. All time pariods wil end at 500 pm, fora! “450 ‘time (meaning in the county where tha Proparty (e Ieeatad) of the appropriate day, qo, 12, NOTICES: AN notices. wil be mads to the patties end Broker by mat, personal dalivery or clectrnia med, Guyers talfure to 10 delivar, timely written notice to Sallet, when such notice is required by this Contract, regarding any esntingencles wil render jer iat contingency null and veid and (he Contract will bo canztrued as W the contingency did not evjel. ee exHipit__\____PAGE oa _ aa tone _Jand Seiler ( Y Lm) acknowledge receipt of a copy of this page, Which ls Page 3 of 6 Pages. ABIS-G ER) Fiasiéa Aasociation af REALTOAS® Ad Rights Reserved ADM} [Wi GMP LAINE — esauazn: EXMIEIT af {ATPase predhuned eit Zhan” by RE Fatrmaniay, LLC 180025 Ftsen Mole Read, Cin Towns 1 i J Pou JUL-ea-a : a 1 G1254 PM Dope Ak Nevis oo ens . ! ; L COMPLETE AGREEMENT: This Contract Is the entire agresment beeen Buyor and Sefier. Except for brorerage preements, ne iprior of present agreements will. Bind Buyer, Seller or Broker unless Iecorporsted Inte this Contract. cdifications of this Contract wil not’ be binding untess In wring, signed and dafivered BY the party to be bound. Signatures, Nats, documents referenced in this Contrast, ceurterparts and waitten modifications communiéated alectronicaly ar of paper jt be ooeeptanie for all purposed, iretucing delivery, and will bs binding. Handuritien or typewriten farms neerted In or tached te thls Contract prevail over preprinted terms. If any provision of thie Contract fs of becomes invalid or unenforeaable, 3} remaining provisions will cantinuc tobe fully effete, This Contract wil not be recorded In any publle records. ! P |4. ASSIGNABILITY: PERSONS BOUND: Buyer may nat assign this Contract without Sellers written gansent The tems “Guyer” “Seller,” and “Broker may be aiac of plum. THe Contrect Is binding on the heirs, administrators, executors, personal representatives. and assigns (if parm Buys, Seller and Broker. 4 DEFAULT AND DISPUTE RESOLUTION 48, SEFAULT: (a) Seller Default: if for any reason other than fafura of Seller to mats Seller's ue marketable eftar diligent effort, geller fails, fefjses or neglects to perform ts Contact, Buyer may choose (o feceive, a refum of Buyers dapesit without waiving ‘the fight to see es of to Beck specific perlamanss as Dy aG. Seller wil also ba lable to Broker for the full amount of tha brokaragn toe. (b) Buyer Default f Buyer fells to perform this Contract within the time specified, Including timaly payment of all dapscits, Seller may choose to relain and collect ll deposits paid and agtesd to ba paid as figuidated damages of to’ sesk grétific performance as per Paragraph 16, and Broker wil, upon damand, receive 50% of all deposits pald and agreed ta be {to be epfit equally among Gooperatiiig brokers} up to the full amount of the brokerage fee. 16. DISPLDE RESOLUTION: This Contreat” will be eonstvued under Floris law. AN contrvarsies, claims, and athor matters in , question arising ouf'of or relsting to this Tangaetion of this Contract or fts breach ‘will be satiled as follows: {a} Disputes conceming entittement to deposits made and agreed to be made: Buyer and Seller wil have 30 days from the data conflicting demands am made to a tg pesove the dypute [through mediation. {f that fails, Escrow Agent wil aubmit tha dispute, if so required by Florida law, to Escrow Agents choica qf afoltration, a Florida court or the Florida Real Fatata Commission. Buyer and Seller wil bs bound by ery resulting settlement or order. . terms provided for In this Centract. The award wil be based on the greatar weight of the evidence and wil state findings af fact ana ins contractual authority on which it is based. if the parties agree use discovery, it wil bs in secordence with the Furia Rules of Civil Procedure and the arbitrator will resolve ell discovery-elated disputes. Any disputes with 3 Teal ectate Neensee named in Paragraph 19 wil be gubmiltted to arbitration only if the Ticensee’s broker consents in uniting to becom a party to the proceeding. This clause will gurvive closing. 6} Mediation and Arbitration; Expenses: “Mediaion’ Is @ process in which parlles attampl te resolve a dispute by submitting It to an impartial mediator who tectttalas the revolution of the dispute but who is not empowernd to impose & seilemant an tha paries, Modiatlon will be In_ accordance with the rules af the Amariaan Arbitraiion Association ['AAA’) or othar mediator agreed on by the parties. ‘the parties will equally divide the mediation fee, if any. Bybitration’ iB a in which the parties resolve a dispula by a hearing befom | neutral person yito decides the matter and whos derston fs binding on the parties. ‘Aibitrafion wil be in accordance with tha rules of the AAA or other arbitrate? egresd on parties. Each party to any arbitration wil pay Its own fess, costs and expanses, Including atlemays' fees, and wil BexyUBTamsevvy—--—-- m1 ESCROW AGENT AND BROKER ys 17, ESCROW AGENT: Buyer and Seller suthorve Escrow Agent to receive, deposit end hold funde and other items in escrow eS and, subject fo clewtanea, deburse thetr upon proper authorization and in accordance with the farms of this Contraat, gos Including disbursing brokerage fees The parties agra that Esormw Agent wil not be liable to ay person for nifsdativery of vas geerawed “Items to Buyer oF Seller, uniscs the rsdelivery ig dua to Eecrow Agent's willl be tf thie Contrsct of goss mm negigenta tf Escrow Agett inverplesds the subject matler of the esermw, Eserow Agent wi pay the filing tees end cnet : goa the deposit and wil recover Teagonable attomeys' fees and costs {p be paid from the junds of equivalent and 0. eRerged and awarded gs court costs In faver of tha prevailing party. All daims against Escrow Agent wil ta arcitrated, so 217° 18, PROFESSIONAL ADVICE, BROKER LIABILITY: Broker advises Buyer and Seller te verify all facts and representations that 219. are’ important fo them and to cansutt an appropriate profession for legal advice (for example, interpreting 8, gi4, dgemining ithe affect of jawe on tha Properly and transaction, gists of file, forelgn investor ing requirements, etc.) and ‘216 for lax, “pidperty condition, ervironmental and ether speciafized advice, Buyer acknowledges (het Broker doas nol fesids in the nie, Property” and that all fepregentagions (oral, writen or otherwise) by Broker 27e based on Seller represantaions oF pubtie -ai7unleds ‘Broker indicates personal Verification of tha represantation. Buyer agrees to rely solely OF Seller, professional Inspectors #18 and, gowemmenital agencies for watification of the Property condition, square footage and fects that materially affect Property - yp. value, Buyer afd Seller respectively will pay all costs and expenses, Including reascnable atiomeve! foes at ail levels, inaurred by og EXHIBIT | 3 "ras Buyer Bh j and Seller <__yiontge ee ED erste ai Lambe tod ‘eloco iorda Anteintion of REALTORE® AN Foun Resoned ADMINISTRA YE ” i Produced van Ziphuen by RE Fonra net, LLG 12025 Ft tps od anon nein, Maen KS, ot) HENS matihel) ge. pat G0 Oh THEMER TER JulL-@s—-Bi : _ “ Os rSS PM Dis pore FF Doo \THBIS \ Broker and Broker's officers, Grectore, agents and employees In connection with or artelng from Buyers of Seller's misalalarrert or failure to parform eeniractual obligations. Bisyer and Seller held harmless @nd releasa Broker and Broker's officers, directors, adants and amployoes from ail Usbifty for loss cr demage based on (t} Buyer's or Seller's misstatament or failure to perform aerractal cblgations, (2) Stoker's performance, at Buyer's andor Seller's regurest, of any task beyond the Scope Of servisss or servions prided by any vendor, and (4) expanses incurred by ary Yenuut, Bayer ant Geller cach pecume fill racpancibiity for selecting and compensafina thelr respective vondars, This paragraph will not felieve Broker of statutory obligations, For purposes 48. BROKERS: ‘The ficenses{o) and brokerage(s) nemad below ara collectively referred 10 aa “Broker.” Seller and @uyer acmowladge fhat ihe brekeraga(s) named below are tha procuring cause of this transaction, Instruction to Glosing Age Saller sini at he CK TES APT cing a tl amar of Wo bra fees ab Sa SS tome agreements with tha patties and cooperative agtaements between tha brokers, unless Broker has riined such fess from fhe © estrowed furids. in the absencé of such prokerage Teaments, closing agent will disburse brokerage fees 88 indcaled below. nal "Roal Estate Teanaee MAJESTIC PROPERTIES IBC - i Broker/ Brokerage fee: (8 or % of Purchase Price) 3% ' m pn A IT —- . ADDENDA AND ADDITIONAL TERMS 40. ADDENDA: The following addtional terms are Included in addenda and ineorporated Into this Gontrast (eheck if applicable): + BA Condo, Assn. (3 G. New Mort Rates COM. Housing Okfer Parsons = LS, Sale of Buyer's Property . CB Homeowners’ Assn. Sat HrAstewiRightto inspect LIN, UnimprovediAg. Prop. C37, Rezoning » [J c.Seller Financing (2) |. Selt-Inspactions Co, interest Bearing Account Lad U. Assignment * (3D. Mort Assunietion (2 u. Insulatlont Diselasure CIP, Back-up Contract 8G V. Prop. Disclosure Stn ir fa E, FHA Financing BK. Pra-1878 Housing Simt (LBP) TQ. Broker - Pars, Int in Prop. CVOther p OOF. va Financing REL. Flood Insurance Redd. COR, Rents C3 other _____ 21. ADDITIONAL TERNS: a Te er _ ewe taad 2000 Plolds Avsaciation 4 Progucart win Zi ights Revered 7 by RE Forman, Luc teegs Fasan Milo Road, CinanTounbip, Wietigan 48033. wath S33.-0005 "FIGS ZEX mir Buyer! ae ee rere REALTORS® AIR a . puLree-e1 ea '55 Pm . Dig peve at Woo\Soo 5s P.a? e : re ; : sol Om ti a — — ee ee TEP TE he a, ie ene re Sc pg ee _ a _ ; Bhi ences to cence’ = —__ a v ——— oh — Sa a a a ———— wo , ___ a Re rpg EF — ~~ " — en ae or _ : / — . we . Ep Pi ec eer te, . i ~ mo __ wpe ee - : - a tt 2 erm UF rR RT TT FD We AES hf FICE LE Lis or " Que nee meer pe eee er ney Bp LT TT ES LT A oo} td ee ow een snare oe — en i.) This is intended ta be a legally binding contrast, If not fully understood, seek the advice of an attorney prior to signing. m : OFFER AND ACCEPTANCE * Check if applicable: {J Buyer received a written real property disclosure alalement from Seller bofore making thig Offer.) oe _ Buyer offers tb purchase tha Property on the above terms and conditions, Unless thls Contract is algned by Seller and a copy or‘ delivered to Buyer no latet than 5:00 Diam & duly 5 2001 , this offer will be revoked os ‘and Buyer's deposit refunded subject fo clearance of finds am, ver pam. on . x tote 7 fefos Buyer: wld fag onsen Tax ID/SSN; ff DILTANA Bf. cy ay Date Sie Tax ID/SSN: nies Print name: a . We Phone: _ Ard¥ess! . 4 Fa: 1 ~ epee sr Dales A [8 | om] Sellers Crva, C Tax (DISSN: Nee : Print name: renute nv Date, —— Salen - ———. Tax IDISSN- nee ; Print name . . "19° Phone: : ame —— Address: or Fe i w-' (2 Seller counters Buyer's offer (io accept the counter offer, Buyer must sign_or Inifel the counter offered terms and deliver @ copy mit: ofthe aooepanoe to Seller by $:00 ps. on =) Q Seller relents Buyer's offer. ise + Bayer AY ( “yam se Seller ely ( j ackronfedga re receipt of acopy of this page, Which is Page Gof 8 Pages. butsdrinten of ol EALTORS and oral Boand/Aasoetion of REALTORS malt ma errata al ality of aaugey ot uy pov ae : sotirg coal palit rdudtny and fe At inte tend; to Hendy the user 06 a REALTOR. REA LTOR is @ coghrerad sa ace membres Mal Mot mayb Ul ony He . Bates Soangees, eho Bre rpamibiere of thes National Adzeclotion of REALTORS and who subtdrtba by it Dade of Ethics, : _ The fseareipht He af the Uniied Staten (17 U8. Code) forbid the unauthorized reproduction of blank forms by any means Including faceimile or exmputorined term. asics 1000 + (22000 Wr Mertda Association of REALTORS® All Rights Resenred EXHIBIT fa Produoad with Zhe by RE Formetiet LLC 18025 Fittscn bts Road, Cinta

Docket for Case No: 06-003384PL