EXHIBIT 10.15
VACANT LAND CONTRACT
FLORIDA ASSOCIATION OF REALTORS(R)
LOT 310
PARTIES AND DESCRIPTION OF PROPERTY
1. SALE AND PURCHASE: ▇▇▇▇▇▇ ▇▇▇▇▇ ("Seller") and ▇▇▇▇▇▇▇ ▇▇▇ ("Buyer")
agree to sell and buy on the terms and conditions specified below the
property ("Property") described as:
Address: SUN GLADES LOT 310 - 73414432000003100
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Legal Description: SUN GLADES LOT 310 - 73414432000003100
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including all improvements and the following additional property:
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PRICE AND FINANCING
2. PURCHASE PRICE: $60,000. payable by ▇▇▇▇▇ in U.S. funds as follows:
(a) $ 500. Deposit received (checks are subject to clearance)
------- ILLUSTRATED PROPERTIES by
for ("Escrow Agent")
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SIGNATURE NAME OF COMPANY
(b) $ Additional deposit to be made by _______________ ,
or ____ days from Effective Date.
-------
(c) 45,000. Total Financing (see Paragraph 3 below) (express
------- as a dollar amount or percentage)
(d) $ Other:
-------
(e) $ 14,500. Balance to close (not including Buyer's closing
------- costs, prepaid items and prorations). All funds
paid at closing must be paid by locally drawn
cashier's check, official check or wired funds.
[ ] (f) (complete only if purchase price will be determined based on a
per unit cost instead of a fixed price). The unit used to determine the
purchase price is [ ] lot [ ] acre [ ] square foot [ ] other (specify:
_____________________) prorating areas of less than a full unit. The
purchase price will be $____________ per unit based on a calculation of
total area of the Property as certified to Buyer and Seller by a
Florida-licensed surveyor in accordance with Paragraph 8(c) of this
Contract. The following rights of way and other areas will be
excluded from the calculation:________________________________________
______________________________________________________________________
3. CASH/FINANCING: (Check as applicable) [ ] (a) Buyer will pay cash for
the Property with no financing contingency. [X] (b) This Contract is
contingent on Buyer qualifying and obtaining the commitment(s) or
approval(s) specified below (the "Financing") within 30 days from
Effective Date (if left blank then Closing Date or 30 days from
Effective Date, whichever occurs first) (the "Financing Period"). Buyer
will apply for Financing within 5 days from Effective Date (5 days if
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 6 of 8 Pages.
left blank) and will timely provide any and all credit, employment,
financial, and other information required by the lender. If Buyer,
after using diligence and good faith, cannot obtain the Financing,
within the Financing Period, either party may cancel this Contract.
Upon cancellation, ▇▇▇▇▇ will return to Seller all title evidence,
surveys and association documents provided by Seller, and ▇▇▇▇▇'s
deposit(s) will be returned after Escrow Agent receives proper
authorization from all interested parties. Buyer will pay all loan
expenses, including the lender's title insurance policy.
[ ] (1) NEW FINANCING: Buyer will secure a commitment for new third
party financing for $45,000. or ______% of the purchase price at the
prevailing interest rate and loan costs. Buyer will keep Seller and
▇▇▇▇▇▇ fully informed of the loan application status and progress
and authorizes the lender or mortgage broker to disclose all such
information to Seller and Broker.
[ ] (2) SELLER FINANCING: Buyer will execute a [ ] first [ ] second
purchase money note and mortgage to Seller in the amount of
$_______________, bearing annual interest at _____% and payable as
follows: . The mortgage, note, and any security agreement will be in
a form acceptable to Seller and will follow forms generally accepted
in the county where the Property is located; will provide for a late
payment fee and acceleration at the mortgagee's option if Buyer
defaults; will give Buyer the right to prepay without penalty all or
part of the principal at any time(s) with interest only to date of
payment; will be due on conveyance or sale, will provide for release
of contiguous parcels, if applicable; and will require Buyer to keep
liability insurance on the Property, with Seller as additional named
insured. ▇▇▇▇▇ authorizes Seller to obtain credit, employment and
other necessary information to determine creditworthiness for the
financing. Seller will, within 10 days from Effective Date, give
Buyer written notice of whether or not Seller will make the loan.
[ ] (3) MORTGAGE ASSUMPTION: Buyer will take title subject to and
assume and pay existing first mortgage to _________________________
LN# ____________________________ in the approximate amount of
$_______________ currently payable at $________________ per month
including principal, interest, [ ] taxes and insurance and have a
[ ] fixed [ ] other (describe) ____________________________________
interest rate of ________% which [ ] will [ ] will not escalate upon
assumption. Any variance in the mortgage will be adjusted in the
balance due at closing with no adjustment to purchase price. Buyer
will purchase Seller's escrow account dollar for dollar. If the
lender disapproves Buyer, or the interest rate upon transfer exceeds
____% or the assumption/transfer fee exceeds $___________, either
party may elect to pay the excess, failing which this agreement will
terminate and ▇▇▇▇▇'s deposit(s) will be returned.
CLOSING
4. CLOSING DATE; OCCUPANCY: This Contract will be closed and the deed and
possession delivered on or before 2/28, 2002 unless extended by other
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provisions of this Contract. If on Closing Date insurance underwriting
is suspended, Buyer may postpone closing up to 5 days after the
insurance suspension is lifted.
5. CLOSING PROCEDURE; COSTS: Closing will take place in the county where
the Property is located and may be conducted by electronic means. If
title insurance insures Buyer for title defects arising between the
title binder effective date and recording of ▇▇▇▇▇'s deed, closing
agent will disburse at closing the net sale proceeds to Seller and
brokerage fees to Broker as per Paragraph 17. In addition to other
expenses provided in this Contract, Seller and Buyer will pay the costs
indicated below.
(a) SELLER COSTS: Seller will pay taxes on the deed and recording fees
for documents needed to cure title; certified, confirmed and ratified
special assessment liens; title evidence (if applicable under Paragraph
8); Other: ___________________________________________________________
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 2 of 8 Pages.
(b) BUYER COSTS: Buyer will pay taxes and recording fees on notes and
mortgages and recording fees on the deed and financing statements; loan
expenses; pending special assessment liens; lender's title policy at
the simultaneous issue rate; inspections; survey and sketch; insurance;
Other:
(c) TITLE EVIDENCE AND INSURANCE: CHECK (1) OR (2):
[X] (1) Seller will provide a Paragraph 8(a)(1) owner's title
insurance commitment as title evidence. [X]Seller [ ] Buyer
will select the title agent. [X] Seller [ ] Buyer will pay for
the owner's title policy, search, examination and related
charges. Each party will pay its own closing fees.
[ ] (2) Seller will provide title evidence as specified in
Paragraph 8(a)(2). [ ] Seller [ ] Buyer will pay for the
owner's title policy and select the title agent. Seller will
pay fees for title searches prior to closing, including tax
search and lien search fees, and Buyer will pay fees for title
searches after closing (if any), title examination fees and
closing fees.
(d) PRORATIONS: The following items will be made current and prorated
as of the day before Closing Date: real estate taxes, interest, bonds,
assessments, leases and other Property expenses and revenues. If taxes
and assessments for the current year cannot be determined, the previous
year's rates will be used with adjustment for any exemptions.
(e) TAX WITHHOLDING: Buyer and Seller will comply with the Foreign
Investment in Real Property Tax Act, which may require Seller to
provide additional cash at closing if Seller is a "foreign person" as
defined by federal law.
PROPERTY CONDITION
6. LAND USE: Seller will deliver the Property to Buyer at the time agreed
in its present "as is" condition, with conditions resulting from
▇▇▇▇▇'s inspections and casualty damage, if any, excepted. Seller will
maintain the landscaping and grounds in a comparable condition and will
not engage in or permit any activity that would materially alter the
Property's condition without the Buyer's prior written consent.
(a) FLOOD ZONE: Buyer is advised to verify by survey, with the lender
and with appropriate government agencies which flood zone the Property
is in, whether flood insurance is required and what restrictions apply
to improving the Property and rebuilding in the event of casualty.
(b) GOVERNMENT REGULATION: Buyer is advised that changes in government
regulations and levels of service which affect Buyer's intended use of
the Property will not be grounds for canceling this Contract if the
Feasibility Study Period has expired or if Buyer has checked choice
(c)(2) below.
(c) INSPECTIONS: (CHECK (1) OR (2) BELOW)
[ ] (1) FEASIBILITY STUDY: Buyer will, at Buyer's expense and
within ____ days from Effective Date ("Feasibility Study
Period"), determine whether the Property is suitable, in
▇▇▇▇▇'s sole and absolute discretion, for ___________________
use. During the Feasibility Study Period, Buyer may conduct a
Phase I environmental assessment and any other tests,
analyses, surveys and investigations ("Inspections") that
Buyer deems necessary to determine to Buyer's satisfaction the
Property's engineering, architectural and environmental
properties; zoning and zoning restrictions; subdivision
statutes; soil and grade; availability of access public roads,
water, and other utilities; consistency with local, state and
regional growth management plans, availability of permits,
government approvals, and licenses; and other inspections that
Buyer deems appropriate to determine the Property's
suitability for the Buyer's intended use. If the Property must
be rezoned, ▇▇▇▇▇ will obtain the rezoning from the
appropriate government agencies. Seller will sign all
documents Buyer is required to file in connection with
development or rezoning approvals.
Seller gives Buyer, its agents, contractors and assigns, the
right to enter the Property at any time during the Feasibility
Study Period for the purpose of conducting inspections;
provided, however, that Buyer, its agents, contractors and
assigns enter the Property and conduct inspections at their
own risk. ▇▇▇▇▇ will indemnify and hold Seller harmless from
losses, damages, costs, claims and expenses of any nature,
including attorney's fees, expenses and liability incurred in
application for rezoning or related proceedings, and from
liability to any person, arising from the conduct of any and
all inspections of any work authorized by ▇▇▇▇▇. Buyer will
not engage in any activity that could result in a construction
lien being filed against the Property without Seller's prior
written consent. If this transaction does not close, Buyer
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 3 of 8 Pages.
will, at Buyer's expense, (1) repair all damages to the
Property resulting from the Inspections and return the
Property to the condition it was in prior to conduct of the
Inspections, and (2) release to Seller all reports and other
work generated as a result of the Inspections.
▇▇▇▇▇ will deliver written notice to Seller prior to the
expiration of the Feasibility Study Period of ▇▇▇▇▇'s
determination of whether or not the Property is acceptable.
▇▇▇▇▇'s failure to comply with this notice requirement will
constitute acceptance of the Property as suitable for Buyer's
intended use in its "as is" condition. If the Property is
unacceptable to Buyer and written notice of this fact is
timely delivered to Seller, this Contract will be deemed
terminated as of the day after the Feasibility Study period
ends and ▇▇▇▇▇'s deposit(s) will be returned after Escrow
Agent receives proper authorization form all interested
parties.
[X] (2) NO FEASIBILITY STUDY: Buyer is satisfied that the
Property is suitable for Buyer's purposes, including being
satisfied that either public sewerage and water are available
to the Property or the Property will be approved for the
installation of a well and/or private sewerage disposal system
and that existing zoning and other pertinent regulations and
restrictions, such as subdivision or deed restrictions,
concurrency, growth management and environmental conditions,
are acceptable to Buyer. This Contract is not contingent on
Buyer conducting any further investigations.
(d) SUBDIVIDED LANDS: If this Contract is for the purchase of
subdivided lands, defined by Florida Law as "(a) Any contiguous land
which is divided or is proposed to be divided for the purpose of
disposition into 50 or more lots, parcels, units, or interests; or (b)
Any land, whether contiguous or not, which is divided or proposed to be
divided into 50 or more lots, parcels, units, or interests which are
offered as a part of a common promotional plan." Buyer may cancel this
Contract for any reason whatsoever for a period of 7 business days from
the date on which ▇▇▇▇▇ executes this Contract. If Buyer elects to
cancel within the period provided, all funds or other property paid by
▇▇▇▇▇ will be refunded without penalty or obligation within 20 days of
the receipt of the notice of cancellation by the developer.
7. RISK OF LOSS; EMINENT DOMAIN: If any portion of the Property is
materially damaged by casualty before closing, or Seller negotiates
with a governmental authority to transfer all or part of the Property
in lieu of eminent domain proceedings, or if an eminent domain
proceeding is initiated, Seller will promptly inform ▇▇▇▇▇. Either
party may cancel this Contract by written notice to the other within 10
days from ▇▇▇▇▇'s receipt of Seller's notification, failing which Buyer
will close in accordance with this Contract and receive all payments
made by the government authority or insurance company, if any.
TITLE
8. TITLE: Seller will convey marketable title to the Property by statutory
warranty deed or trustee, personal representative or guardian deed as
appropriate to Seller's status.
(a) TITLE EVIDENCE: Title evidence will show legal access to the
Property and marketable title of record in Seller in accordance with
current title standards adopted by the Florida Bar, subject only to the
following title exceptions, none of which prevent ▇▇▇▇▇'s intended use
of the Property as ______________________: covenants, easements and
restrictions of record; matters of plat; existing zoning and government
regulations; oil, gas and mineral rights of record if there is no right
of entry; current taxes; mortgages that ▇▇▇▇▇ will assume; and
encumbrances that Seller will discharge at or before closing. Seller
will, prior to closing, deliver to Buyer Seller's choice of one of the
following types of title evidence, which must be generally accepted in
the county where the Property is located (specify in Paragraph 5(c) the
selected type). Seller will use option (1) in Palm Beach County and
option (2) in Miami-Dade County.
(1) A TITLE INSURANCE COMMITMENT issued by a Florida-licensed title
insurer in the amount of the purchase price and subject only to
title exceptions set forth in this Contract.
(2) AN EXISTING ABSTRACT OF THE TITLE from a reputable and existing
abstract firm (if firm is not existing, then abstract must be
certified as correct by an existing firm) purporting to be an
accurate synopsis of the instruments affecting title to the Property
recorded in the public records of the county where the Property is
located and certified to Effective Date. However, if such an
abstract is not available to Seller, then a prior owner's title
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 4 of 8 Pages.
policy acceptable to the proposed insurer as a base for reissuance
of coverage. Seller will pay for copies of all policy exceptions and
an update in a format acceptable to ▇▇▇▇▇'s closing agent from the
policy effective date and certified to Buyer or ▇▇▇▇▇'s closing
agent together with copies of all documents recited in the prior
policy and in the update. If a prior policy is not available to
Seller then (1) above will be the title evidence. Title evidence
will be delivered no later than 10 days before Closing Date.
(b) TITLE EXAMINATION: ▇▇▇▇▇ will examine the title evidence and
deliver written notice to Seller, within 5 days from receipt of title
evidence but no later than closing, of any defects that make the title
unmarketable. Seller will have 30 days from receipt of ▇▇▇▇▇'s notice
of defects ("Curative Period") to cure the defects at Seller's expense.
If Seller cures the defects within the Curative Period, Seller will
deliver written notice to Buyer and the parties will close the
transaction on Closing Date or within 10 days from ▇▇▇▇▇'s receipt of
Seller's notice if Closing Date has passed. If Seller is unable to cure
the defects within the Curative Period, Seller will deliver written
notice to ▇▇▇▇▇ and Buyer will, within 10 days from receipt of Seller's
notice, either cancel this Contract or accept title with existing
defects and close the transaction.
(c) SURVEY: Buyer may, prior to Closing Date and at ▇▇▇▇▇'s expense,
have the Property surveyed and deliver written notice to Seller, within
5 days from receipt of survey but no later than closing, of any
encroachments on the Property, encroachments by the Property's
improvements on other lands or deed restriction or zoning violations.
Any such encroachment or violation will be treated in the same manner
as a title defect and ▇▇▇▇▇'s and Seller's obligations will be
determined in accordance with subparagraph (b) above. If any part of
the Property lies seaward of the coastal construction control line,
Seller will provide Buyer with an affidavit or survey as required by
law delineating the line's location on the property, unless Buyer
waives this requirement in writing.
MISCELLANEOUS
9. EFFECTIVE DATE; TIME: The "Effective Date" of this Contract is the date
on which the last of the parties initials or signs the latest offer.
TIME IS OF THE ESSENCE FOR ALL PROVISIONS OF THIS CONTRACT. All time
periods expressed as days will be computed in business days (a
"business day" is every calendar day except Saturday, Sunday and
national legal holidays), except for time periods greater than 60 days,
which will be computed in calendar days. If any deadline falls on a
Saturday, Sunday or national legal holiday, performance will be due the
next business day. All time periods will end at 5:00 p.m. local time
(meaning in the county where the Property is located) of the
appropriate day.
10. NOTICES: All notices will be made to the parties and Broker by mail,
personal delivery or electronic media. ▇▇▇▇▇'s failure to deliver
timely written notice to Seller, when such notice is required by this
Contract, regarding any contingencies will render that contingency null
and void and the Contract will be construed as if the contingency did
not exist.
11. COMPLETE AGREEMENT: This Contract is the entire agreement between Buyer
and Seller. Except for brokerage agreements, no prior or present
agreements will bind Buyer, Seller or Broker unless incorporated into
this Contract. Modifications of this Contract will not be binding
unless in writing, signed and delivered by the party to be bound.
Signatures, initials, documents referenced in this Contract,
counterparts and written modifications communicated electronically or
on paper will be acceptable for all purposes, including delivery, and
will be binding. Handwritten or typewritten terms inserted in or
attached to this Contract prevail over preprinted terms. If any
provision of this Contract is or becomes invalid or unenforceable, all
remaining provisions will continue to be fully effective. This Contract
will not be recorded in any public records.
12. ASSIGNABILITY; PERSONS BOUND: Buyer may not assign this Contract
without Seller's written consent. The terms "Buyer," "Seller," and
"Broker" may be singular or plural. This Contract is binding on the
heirs, administrators, executors, personal representatives and assigns
(if permitted) of Buyer, Seller and Broker.
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 5 of 8 Pages.
DEFAULT AND DISPUTE RESOLUTION
13. DEFAULT: (a) SELLER DEFAULT: If for any reason other than failure of
Seller to make Seller's title marketable after diligent effort, Seller
fails, refuses or neglects to perform this Contract, ▇▇▇▇▇ may choose
to receive a return of Buyer's deposit without waiving the right to
seek damages or to seek specific performance as per Paragraph 16.
Seller will also be liable to Broker for the full amount of the
brokerage fee. (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 to be paid as liquidated damages or to seek specific performance
as per Paragraph 16; and Broker will, upon demand, receive 50% of all
deposits paid and agreed to be paid (to be split equally among
cooperating brokers) up to the full amount of the brokerage fee.
14. DISPUTE RESOLUTION: This Contract will be construed under Florida law.
All controversies, claims, and other matters in question arising out of
or relating to this transaction or this Contract or its breach will be
settled as follows:
(a) DISPUTES CONCERNING ENTITLEMENT TO DEPOSITS MADE AND AGREED TO BE
MADE: ▇▇▇▇▇ and Seller will have 30 days from the date conflicting
demands are made to attempt to resolve the dispute through mediation.
If that fails, ▇▇▇▇▇▇ Agent will submit the dispute, if so required by
Florida law, to Escrow Agent's choice of arbitration, a Florida court
or the Florida Real Estate Commission. Buyer and Seller will be bound
by any resulting settlement or order.
(b) ALL OTHER DISPUTES: ▇▇▇▇▇ and Seller will have 30 days from the
date a dispute arises between them to attempt to resolve the matter
through mediation, failing which the parties will resolve the dispute
through neutral binding arbitration in the county where the Property is
located. The arbitrator may not alter the Contract terms or award any
remedy not provided for in this Contract. The award will be based on
the greater weight of the evidence and will state findings of fact and
the contractual authority on which it is based. If the parties agree to
use discovery, it will be in accordance with the Florida Rules of Civil
Procedure and the arbitrator will resolve all discovery-related
disputes. Any disputes with a real estate licensee named in Paragraph
17 will be submitted to arbitration only if the licensee's broker
consents in writing to become a party to the proceeding. This clause
will survive closing.
(c) MEDIATION AND ARBITRATION; EXPENSES: "Mediation" is a process in
which parties attempt to resolve a dispute by submitting it to an
impartial mediator who facilitates the resolution of the dispute but
who is not empowered to impose a settlement on the parties. Mediation
will be in accordance with the rules of the American Arbitration
Association ("AAA") or other mediator agreed on by the parties. The
parties will equally divide the mediation fee, if any. "Arbitration" is
a process in which the parties resolve a dispute by a hearing before a
neutral person who decides the matter and whose decision is binding on
the parties. Arbitration will be in accordance with the rules of the
AAA or other arbitrator agreed on by the parties. Each party to any
arbitration will pay its own fees, costs and expenses, including
attorneys' fees, and will equally split the arbitrator's fees and
administrative fees of arbitration. In a civil action to enforce an
arbitration award, the prevailing party to the arbitration shall be
entitled to recover from the nonprevailing party reasonable attorneys'
fees, costs and expenses.
ESCROW AGENT AND BROKER
15. ESCROW AGENT: ▇▇▇▇▇ and Seller authorize Escrow Agent to receive,
deposit and hold funds and other items in escrow and, subject to
clearance, disburse them upon proper authorization and in accordance
with the terms of this Contract, including disbursing brokerage fees.
The parties agree that Escrow Agent will not be liable to any person
for misdelivery of escrowed items to Buyer or Seller, unless the
misdelivery is due to Escrow Agent's willful breach of this Contract or
gross negligence. If Escrow Agent interpleads the subject matter of the
escrow, Escrow Agent will pay the filing fees and costs from the
deposit and will recover reasonable attorneys' fees and costs to be
paid from the escrowed funds or equivalent and charged and awarded as
court costs in favor of the prevailing party. All claims against ▇▇▇▇▇▇
Agent will be arbitrated, so long as Escrow Agent consents to
arbitrate.
16. PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises ▇▇▇▇▇ and Seller
to verify all facts and representations that are important to them and
to consult an appropriate professional for legal advice (for example,
interpreting contracts, determining the effect of laws on the Property
and transaction, status of title, foreign investor reporting
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 6 of 8 Pages.
requirements, etc.) and for tax, property condition, environmental and
other specialized advice. ▇▇▇▇▇ acknowledges that ▇▇▇▇▇▇ does not
reside in the Property and that all representations (oral, written or
otherwise) by Broker are based on Seller representations or public
records unless Broker indicates personal verification of the
representation. ▇▇▇▇▇ agrees to rely solely on Seller, professional
inspectors and governmental agencies for verification of the Property
condition and facts that materially affect Property value. Buyer and
▇▇▇▇▇▇ respectively will pay all costs and expenses, including
reasonable attorneys' fees at all levels, incurred by ▇▇▇▇▇▇ and
▇▇▇▇▇▇'s officers, directors, agents and employees in connection with
or arising from Buyer's or Seller's misstatement or failure to perform
contractual obligations. Buyer and Seller hold harmless and release
Broker and ▇▇▇▇▇▇'s officers, directors, agents and employees from all
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 or services provided by any vendor; and (4)
expenses incurred by any vendor. ▇▇▇▇▇ 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, ▇▇▇▇▇▇ will be treated as a party to this
Contract. This paragraph will survive closing.
17. BROKERS: The licensee(s) and brokerage(s) named below are collectively
referred to as "Broker." ▇▇▇▇▇▇ and ▇▇▇▇▇ acknowledge that the
brokerage(s) named below are the procuring cause of this transaction.
INSTRUCTION TO CLOSING AGENT: Seller and ▇▇▇▇▇ direct closing agent to disburse
at closing the full amount of the brokerage fees as specified in separate
brokerage agreements with the parties and cooperative agreements between the
brokers, unless Broker has retained such fees from the escrowed funds. In the
absence of such brokerage agreements, closing agent will disburse brokerage fees
as indicated below.
RE/MAX REALTY WELLINGTON ▇▇▇▇ ▇▇▇▇▇▇▇▇ ILLUSTRATED PROPERTIES/▇▇▇▇ ▇▇▇▇▇▇
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Real Estate Licensee Real Estate Licensee
40430434 40462547
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Broker/Brokerage fee: ($ or % of Purchase Price) 4% Broker/Brokerage fee: ($ or % of Purchase Price) 4%
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ADDITIONAL TERMS
18. ADDITIONAL TERMS:
1. SUBJECT TO SATISFIED SURVEY
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Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 7 of 8 Pages.
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This is intended to be a legally binding contract. If not fully understood, seek
the advice of an attorney prior to signing.
OFFER AND ACCEPTANCE
(Check if applicable: [ ] ▇▇▇▇▇ received a written real property disclosure
statement from Seller before making this Offer. Buyer offers to purchase the
Property on the above terms and conditions. Unless this Contract is signed by
Seller and a copy delivered to Buyer no later than ___ [ ] a.m. [ ] p.m. on
_______________________, this offer will be revoked and ▇▇▇▇▇'s deposit refunded
subject to clearance of funds.
Date:12/23/2001 Buyer: /s/ ▇▇▇▇▇▇▇ ▇▇▇ Tax ID/SSN:
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Print name: ▇▇▇▇▇▇▇ ▇▇▇
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Date: Buyer: Tax ID/SSN:
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Date:12/27/01 Seller: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇ Tax ID/SSN: ▇▇▇▇▇▇▇▇▇
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Date: Seller: Tax ID/SSN:
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[ ] Seller counters Buyer's offer (to accept the counter offer, Buyer must sign
or initial the counter offered terms and deliver copy of the acceptance to
Seller by 5:00 p.m. on _________________). [ ] Seller rejects ▇▇▇▇▇'s offer.
Effective Date: __________________ (The date on which the last party signed or
initialed acceptance of the final offer).
The Florida Association of REALTORS(R) and local Board/Association of
REALTORS(R) make no representation as to the legal validity or adequacy of any
provision of this form in any specific transaction. This standardized form
should not be used in complex transactions or with extensive riders or
additions. This form is available for use by the entire real estate industry and
is not intended to identify the user as a REALTOR(R). REALTOR(R) is a registered
collective membership mark that may be used on the real estate licensees who are
members of the National Association of REALTORS(R) and who subscribe to its Code
of Ethics.
Buyer ( /SL/ )(_____) and Seller (_/GO/__)(_____) acknowledge receipt of a copy
of this page, which is Page 8 of 8 Pages.
ESTIMATED NET PROCEEDS
ESTIMATED SALE PRICE $ 60,000
COSTS RELATED TO SALE OF HOME
Dock Stamps $ 420.00
Commission: 8.000% of sales price $ 4,800.00
This does not include Mortgage or Taxes $ 0.00
Title ins: 1.298% of sales price $ 778.80
Fed Ex & Misc $ 100.00
Mineral Rights $ 0.00
Transaction Fee $ 200.00
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Total Estimated Expenditures $ 6,298.80
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ESTIMATED NET PROCEEDS $53,701.20
Prepared for: ▇▇▇▇▇▇ ▇▇▇▇▇ Prepared by: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇.
This is an estimate only and the information herein is deemed to be accurate but
not guaranteed. All estimates are subject to change.
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇ 12/27/2001
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Owner
DISCLOSURE OF AFFILIATED BUSINESS ARRANGEMENT
Ref: Sale on lot in Sun Glades
Dear Owner:
This is to give you notice that your RE/MAX agent has a business
relationship with Professional Advantage Title, Ltd. and because of this
relationship, this referral may provide a financial or other benefit to the
Agent.
You are NOT required to use Professional Advantage Title, Ltd. on the
sale or purchase of the subject property. THERE ARE FREQUENTLY OTHER SETTLEMENT
SERVICE PROVIDERS AVAILABLE WITH SIMILAR SERVICE. YOU ARE FREE TO SHOP AROUND TO
DETERMINE THAT YOU ARE RECEIVING THE BEST SERVICES AND THE BEST RATES FOR THESE
SERVICES.
The range of fees charged for services rendered by the title agency
have been disclosed to the parties.
/s/ ▇▇▇▇▇▇ ▇▇▇▇▇ 12/27/2001
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Seller Approval to use PAT date Seller Approval to use PAT date
▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, ▇▇., PA
BROKER/ASSOC., CRS,
RE/MAX WELLINGTON
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