EFTA00604392.pdf

"AS iS" Residential Contract For Safe And Purchase THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALT ORS AND THE FLORIDA BAR • PARTIES: 124 Pare Monceau LLC ✓ and Donna ("Seller), 3 agree that Seller shall sell and Buyer shall buy the Ward (*Buyer"), following described Real Property and Personal 4 (collectively Properly) pursuant to the terms and conditi Property ons of this AS IS Residential Contract For Sale 5 Purchase and any riders and addenda ("Contract'): And s 1. PROPERTY DESCRIPTION: ✓ (a) Street address, city, zip: lin MEM r) Properly is locatedimealm Beach Coll" Florida. Reel PropertyTax ID No.:50-43-44-11-02-000-0060 IIIIIIIIIII_ • (c) Real Property: Tire legal desaiption is PARC MONCEAU LT 6 10 11 12 together with all existing improvements and fixtures, including built-in appliances, built-in furnishings and 13 attached wall-to-wall carpeting and flooring ('Real Property') 14 by other terms of this Contract unless specifically excluded in Paragraph 1(e) or 15 (d) Personal Property: Unless excluded in Paragraph 1(e) or by other terms of this Contract, the following items 16 which are owned by Seller and existing on the Proper ty as of the date of the initial offer are included in the 17 purchase: range(s)/oven(s), refrigerator(s), dishwasher(s), disposal, ceiling fan(s), Intercom, light fixture(s), 16 rods and draperies, blinds, window treatments, smoke 19 gate and other access devices, and storm shutters/panels ("Pers detector(s), garage door opener(s), security 20' Other Personal Property items included in this purchase onal Property"). 21 are:washer, dryer Personal Property is included in the Purchase Price, has no contrib 2:r (e) The following items are excluded from the purchase: utory value, and shall be left for the Buyer. 24 25 PURCHASE PRICE AND CLOSING 23'2. PURCHASE PRICE (U.S. currency)- 55 500,000.00 2r. (a) Initial deposit to be held In escrow In the 4..444444.40 amount of (checks subject to COLLECTION) • . $ 2s The tial 10.000, 00 ered Agent' named below (CHEndK ONE): i ra ide7ccomab pan leles andofter or (ii) to bei made so blank, then 3) days after Effective Date. IF NEITHER BOX IS left CHECKED, THEN 31 OPTION (iI) SHALL BE DEEMED SELECTED. 32" Escrow Ascent Information: Name: Lawrence A Hoene Associates Inc. 33' Address: 34' Phone: E 35' (b) Additional deposit to be delivered to Escrow Agent within 156b1i) 655;76e7n41 0) 11 left $540,000.00 30* days after Effective Date 97 (All deposits paid or agreed to be paid, are collectively referre $ 1461-0441/1-00. 38* (c) Financing: Express as a dollar amount or percentage d to as the 'Deposit') ('Loan Amount') see Paragraph 8. . Sr (d) Other: so (e) Balance to close (not Including Buyers closing costs, $ prepaids and potations) by wire $4,950,000.00 41. transfer or other COLLECTED funds 42 NOTE: For the definition of "COLLECTION" or "COLL S -43?I€-r494-00 ECTED" FOR ACCEPTANCE OF OFFER AM) COUNTER-OFFERS; see STANDARDS. If not signed by Buyer and Seiler, and an. execu EFFECTIVE DATE: ted copy delivered to all parties on or before 50a; 9£(91 946.E , this otter shall be deemed withdrawn to Buyer. Unless otherwise statabtime for acceptance and the Deposit, if any, shall be returned day the counter-offer is delivered. February 22, 2016 of any counte r-offers shall be within 2 days after the 48 (b) The effective date of this Contract shall be the date when the last one of the Buyer and Seller has signed or 49 Initialed and delivered this offer or final counter-offer ("Effective so 4. CLOSING DATE: Unless modified by other provisions Date"). of this Contra ct, the closing of this transaction shall occur 51 and the dosing documents required to be furnished by each party pursuant to this Contract shall be deliver ("Closing") on Mg Date"), at the time established by the Closing Agent ed leetTinelt16 - le, 0 Buyer's Inifs florklaRourors/i9 ge 1 of 12 Seller's Initials -ASS-4 Rev. 9/1502015 Florida Realtors° and The Florida Larer.sx4- Mtaa Asanciaked44,2459641ro Meters Bar. MI Opts reserved. LortneA %ens *Bad'PISS Phase 06005.5510 FM: 06k)as 4744 PecdOood Nth 16Foemeb/ *Legit 14070 rl :24Nrc Moose Mb Ro ram. Sachben 0095 mtplogt“stai EFTA00604392  535. EXTENSION OF CLOSING DATE: sa (a) If Paragraph NW is checked and Closing funds from Buyer's lender(s) are not available on Closing Date due ss to Consumer Financial Protection Bureau Closing Disclo sure delivery requirements MFRS Requirements"), Sa then Closing Date shall be extended for such period sr necessary to satisfy CFPB Requirements, provided such period shall not exceed 10 days. sa (b) If extreme weather or other condition or event constit se uting 'Force Majeure" (see STANDARD G) causes: (I) disruption of utilities or other services essential for Closin so insurance, to become unavailable prior to Closing, Closing g or (I) Hazard, Wind, Flood or Homeowners' ei shall be extended a reasonable time up to 3 after restoration of utilities and other services essential days 52 to Closing and availability of applicable Hazard, Wind, Flood or Homeowners' insurance. If restoration of such utilities or services and availability of insurance 63' not occurred within (if left blank, then 14) days after Closing Date, then has sr this Contract by delivering written notice to the other party, either party may terminate es and Buyer shall be refunded the Deposit, thereb releasing Buyer and Seller from all further obligations under this y ee 6. OCCUPANCY AND POSSESSION: Contract. 67 (a) Unless the box in Paragraph 6(b) is checked, Seller es shall, at Closing, deliver occupancy and possession of the Property to Buyer free of tenants, occupants and es future tenancies. Also, at Closing, Seller shall have removed all personal items and trash from the Proper 70 access devices and codes, as applicable, to Buyer. ty and shall deliver all keys, garage door openers, tf occup ancy is to be delivered before Closing, Buyer 71 assumes all risks of loss to the Property from date of 72 maintenance from that date, and shall be deemed to have occupancy, shall be responsible and liable for n accepted the Property in its existing condition as of time of taking occupancy. 74' (b) O CHECK IF PROPERTY iS SUBJECT TO LEASE(S) is OR OCCUPANCY AFTER CLOSING. If Property is subject to a lease(s) after Closing or is intended to be rented 76 facts and terms thereof shall be disclosed in writing by Seller or occupied by third parties beyond Closing, the 77 be delivered to Buyer, all within 5 days after Effective to Buyer and copies of the written lease(s) shall Date. 78 that the kaase(s) or terms of occupancy are not acceptable If Buyer determines, in Buyer's sole discretion, to Buyer, Buyer may terminate this Contract by 70 delivery of written notice of such election to Seller within 5 days after receipt of the above items from Seller, ao and Buyer shall be refunded the Deposit thereby releasing el Buyer and Seller from all further obligations under this Contract. Estoppel Letter(s) and Seller's affidavit shall be 62 is intended to be occupied by Seller after Closing, see Rider U. provided pursuant to STANDARD D. If Property as' 7. ASSIGNABILITY: (CHECK POST-CLOSING OCCUPANCY BY SELLER. ONE) Buyer O may assign and thereby be released from w this Contract; MI may assign but not be released from any further liability under liability under this Contract or O may not assign this 85 Contract. se FINANCING 87 8. FINANCING: sr aa (a) Buyer will pay cash for the purchase of the Proper ty at Closing. There is no financing contingency as Buyer's obligation to dose. If Buyer obtains a loan to so acknowledges that any terms and conditions imposed for any part of the Purchase Price of the Property, Buyer, 91 affect or extend the Buyer's obligation to close or otherwiseby Buyer's lender(s) or by CFPB Requirements shall not affect any terms or conditions of this Contract. sr O (le) This Contract is contingent upon Buyer obtaining sr O VA or O other a written loan commitment for aO conventional (describe) loan on the following terms within O FHA SW' days after Effective Date ("Loan Commitment Date" (if left blank then 45) for (CHEC K ONE): O fixed, I.J adjustable, O fixed or 95" adjustable rate loan in the Loan Amount (See Paragraph w (if left blank, then prevailing rate based upon Buyer' 2(c)), at an initial interest rate not to exceed s credtworthiness), and for a term of % sr then.30) years ("Financing". (If left blank, sr Buyer shall make mortgage loan application for the Financ so Effective Date and use good faith and diligent effort to ing within (if left blank, then 5) days after leo Commitment") and thereafter to close this Contract. Buyer obtain a written loan commitment for the Financing Mean rot shall keep Seller and Broker fully informed about the status of mortgage loan application and Loan Comm roc itment and authorizes Buyer's mortgage broker and Buyer' lender to disclose such status and progress to Seller and s 109 Broker. ID. Upon Buyer's receipt of Loan Commitment, Buyer shall provid IDS receive Loan Commitment by Loan Commitment Date, then e written notice of same to Seller. If Buyer does not roe the earlier of: thereafter either party may cancel this Contract up to Buyer's Inftia Page 2 of 12 FioeidaRealtors/FI Seller's Initials Rev-9/15 O2015 Florida Realtorseand The Florida Bar. All rights reserved Reseed vAlh aria by *to& 1aV70 . Moen Mk Road, Flaser...ecien 48026 ww., 250( Cr* om 124 Prat Monceau EFTA00604393  107 (i.) Buyer's delivery of written notice to Seller that Buyer roe has either received Loan Commitment or elected to waive the financing contingency of this Contract or we (N,) 7 days prior to the Closing Date specified In 110 Paragraph 4, which date, for purposes of this Paragr 8(b) (l), shall not be modified by Paragraph 5(a). aph 111 If either party timely cancels this Contract pursuant to this Paragr 112 of this Contract, Buyer shall be refunded the aph 8 and Buyer Is not In default under 113 Deposit thereby releasing Buyer and Seller from the terms obligations under this Contract If neither party has all 114 timely canceled this Contract pursuant to this Paragr further then this financing contingency shall be deemed waived by Buyer. aph 8, 115 If Buyer delivers written notice of receipt of Loan 116 close, the Deposit shall be paid to Seller unless failure Commitment to Seller and this Contract does not therea fter 117 to close is due to: (1) Seller's default; (2) Property conditions of the Loan Commitment have not been related 116 provisions of this Contract); (3) appraisal of the Proper met (except when such conditions are waived by other 119 ty obtained by Buyers lender is insufficient to of the Loan Commitment or (4) the loan is not funded meet 120 due to financial failure of Buyer's lender, In which terms the Deposit shall be returned to Buyer, thereby releas event(s) 121 ing Buyer and Seller from all further obligations Contract. under this in. 0 (c) Assumption of existing mortgage (see rider for terms) in. 0 (d) Purchase money note and mortgage to Seller . (see riders; addenda; or special clauses for terms). 124 CLOSING COSTS, FEES AND CHARGES 125 9. CLOSING COSTS; 1111.E INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 126 (a) COSTS TO BE PAID BY SELLER: in • Documentary stamp taxes and surtax on deed, if any in • Owner's Policy and Charges (if Paragraph 9(c) (I) is • HONCendominium Association estoppel fees checked) • Recording and other fees needed to cure title iss • Title search charges (if Paragraph 9(c) (III) is checked) 130' • Seller's attorneys' fees • Municipal lien search Of Paragraph 9(c) () or (Hi) is checked) 191 If, prior to Closing, Seller is unable to meet the AS IS • Other 132 Mainte nance Requirement as required by Paragraph 11 a sum equal to 125% of estimated costs to meet the AS IS 133 Closing. If actual costs to meet the AS IS Maintenance Maintenance Requirement shall be .escrowed at Requir 134 pay such actual costs. Any unused portion of escrowed amount(s) ement exceed escrowed amount, Seller shall 135 (b) COSTS TO BE PAID BY BUYER: shall be returned to Seller. 136 • Taxes and recording fees on notes and mortgages 137 • Loan expenses • Recording fees for deed and financing statements ise • Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) • Appraisal fees las • Survey (and elevation certification, if required) • Buyer s Inspections 140 • Lenders title policy and endorsements • Buyer's attorneys' fees 141 • All property related insurance • HOA/Gondominium Association application/transfer fees 142 • Municipal lien search (If Paragraph 9(c) (Ii) is checked) • Owners Policy Premium (if Paragraph urn 9 (c) (ii) is checked.) • Other: ur (c) TITLE EVIDENCE AND INSURANCE: At least (if left 145 then 5) days prior to Closing Date (- Title Evidence Deadrm blank, then 15, or if Paragraph 8(a) is checked, e"), us Florida licensed title insurer, with legible copies of instruments a title Insurance commitment Sued by a 147 Commitment') and, after Closing, an owners policy of title listed as exceptions attached thereto (Tale insura 148 obtained and delivered to Buyer. If Seller has an owner's policy nce (see STANDARD A for terms) shall be 149 a copy shall be furnished to Buyer and Closing Agent of title insurance covering the Real Property, 150 within policy premium, title search and closing services (collectively, 5 days after Effective Date. The owner's title 151 set forth below. The title fru:want:0 premium chargee for 'Owner's Policy and Charges') shall be paid, the owner's policy and any lender's policy will be as 152 calculated and alienated in accordance with Florida law, but 153 mandated closing disclosures end other closing documents. may be reporte d differently on certain federally 154 (CHECK ONE): 155^ It () Seller shall designate Closing Agent and pay for 156 Owner's Policy and Charges, and Buyer shall pay the premium for Buyer's lender's policy and charges for 157 closing services related to the lender's policy, endorsements and loan closing, which amounts shall be paid by Buyer to Closing Agent or such other 158 ider(s) as Buyer may select; or 1191• 0 00 Buyer will designate Closing Agent and pay for um Owners Policy and Charges and charges for closing services related to Buyers lenders policy, endorsements, and ler loan dosing; or 0 (iii) [MIAMI-DADE/BROWARD REGIONAL PROV ies ISION]: Seiler will furnish a copy of a prior owner's policy of title Insurance or other evidence of title and pay fees for: (A) a continuation or update of such title Buyer's Min .9-1/ Page 3 of 12 Sears Initials FloriclaReahera/F AS1S-4 Rev. 915 02015 Florida ReaRocs0 and The Florida 83:. raoh 3 reserved. Produped SIN slaws by 4,041x I OM reaon Iris Rog. Hs. SZthhjan 48026 124 Parc Monceau EFTA00604394  193 evidence, which is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; 164 and. (C) municipal lien search. Buyer shall obtain and pay for post-Closing continuation and premium for 165 Buyer's owner's policy, and if applicable, Buyers lender's policy. Seller shall not be obligated to than $ pay more 166' (if left blank, then $200.00) for abstract continuation or title search ordered or 167 performed by Closing Agent 168 (d) SURVEY: On or before Title Evidence Deadline, Buyer may, at Buyer's expense, have the Real Property to surveyed and certified by a registered Florida surveyor (*Survey"). It Seller has a survey covering in the Real Property, a copy shall be furnished to Buyer and ClosingAgent within 5 days after Effective Date. in. (e) HOME WARRANTY: At Closing, El Buyer O Seller 03 N/A shall pay for a home warranty plan issued 172' by at a cost not to exceed $ . A home in warranty plan provides for repair or replacement of many of a home's mechanical systems and major 174 appliances in the event of breakdown due to normal wear and tear during built-in the agreement's warranty period. 175 (0 SPECIAL ASSESSMENTS: At Closing, Seller will pay: () the full amount of liens imposed by a public body 176 (*public body does not include a Condominium or Homeowners Association) that are certified, confirmed and 1n ratified before Closing; and {A) the amount of the public body's* most recent estimate or assessment 178 improvement which is substantially complete as of Effective Date, but that has not resulted in for an a lien being 1n inipneed on the Property before Closing. Buyer shall pay all other assessments. If special assessments may too be paid in installments (CHECK ONE): tar El (a) Seller shall pay installments due prior to Closing and Buyer shall pay installments due after Closing. 182 Installments prepaid or due for the year of Closing shall be prorated. 163' fal (b) Seller shall pay the assessment(s) in full prior to or at the tine of Closing. 184 IF NEITHER BOX IS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. 185 This Paragraph 9(f) shall not apply to a special benefit tax lien Imposed by a community development district 188 (CDD) pursuant to Chapter 190, F.S., which lien shall be prorated pursuant to STANDARD K 187 DISCLOSURES 188 10. DISCLOSURES: 186 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when ft Is accumulated in a building in 195 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 191 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding 192 radon and radon testing may be obtained from your county health department 193 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, 194 Seller does not know of any improvements made to the Property which were made without required permits 195 or made pursuant to permits which have not been properly dosed. 196 (c) MOLD: Mold is naturally occurring and may cause health risks or damage to property. if Buyer is concerned in or desires additional Information regarding mold, Buyer should contact an appropriate professional. no (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood in zone the Property is in, whether flood insurance is required by Buyers lender, and what restrictions apply to 200 improving the Property and rebuilding in the event of casualty. If Property is in a 'Special Flood Hazard Area aor or *Coastal Barrier Resources Acr designated area or otherwise protected area identified by the U.S. Fish 202 and Wildlife Service under the Coastal Barrier Resources Act and the lowest floor elevation for the building(s) 203 and /or flood insurance rating purposes is below minimum flood elevation or is ineligible for flood insurance 204 coverage through the National Flood Insurance Program or private flood insurance as defined in 42 U.S.C. 206' §4012a, Buyer may terminate this Contract by delivering written notice to Seller within (if left blank, 206 then 20) days after Effective Date, and Buyer shall be refunded the Deposit thereby releasing Buyer and Sr Seller from all further obligations under this Contract, failing which Buyer accepts existing 4946/404inn of me buildings and flood zone designation of Property. The National Flood Insurance Program may assess 209 additional fees or adjust premiums for pre-Flood Insurance Rate Map (pre-FIRM) non-primary 210 (residential structures in which the insured or spouse does not reside for at least 50% of the year) structures 211 elevation certificate may be required for actuarial rating. and an 212 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating information 213 Brochure required by Section 553.996, F.S. 214 (f) LEAD-BASED PAINT: If Property Includes pre-1978 residential housing, a lead-based paint disclosure is 215 mandatory. 216 (g) HOMEOWNERS' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS 217 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' 213 ASSOCIATION/COMMUNITY DISCLOSURE, IF APPLICABLE. Buyer's IMP Pago 4 of 12 Seller's Initials more ASIS4 Rev. 9n5 0 2015 Florida Realtars0 and The Florida Gar. Ai rights reserved. eassassinsi,omeat •y eta two nnean laitiRoct. Truer.!Orkin,' 4026 Inflad.2751.8461 124 Parc Monona EFTA00604395  219 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER no SHOULD NOT RELY ON THE SELLERS CURR PROPERTY TAXES AS THE 'AMOUNT OF PROPERTY ENT zn TO PAY IN THE YEAR SUBSEQUENT TO PURCHASETAXES THAT THE BUYER MAY BE OBLIGATED 222 . A CHANGE OF OWNERSHIP OR PROP IMPROVEMENTS TRIGGERS REASSESSMENTS ERTY 223 HIGHER PROPERTY TAXES. IF YOU HAVE OF THE PROPERTY THAT COULD RESULT IN 224 ANY QUESTIONS CONCERNING VALUATION, THE COUNTY PROPERTY APPRAISERS OFFIC FOR CONTACT Ras (i) FIRPTA TAX WITHHOLDING: Seller shall inform E INFORMATION. Buyer in writing if Seller is a "foreign person' as no the Foreign Investment In Real Properly Tax Act ("FIRP defined by the 227 TA"). Buyer and Seller shall comply with FIRPTA, which may require Seller to provide aditional cash at ns Closing. if Seller is not a 'foreign person", Seller can provide Buyer, at or prior to Closing, a certification of 229 non-foreign stains, under penalties of perjury, to inform Buyer and Closing Agent that no withholding is require d. mo to FIRPTA. Buyer end Seller are advised to seek legal See STANDARD V for further information pertaining couns ear rights, obligations, reporting and withholding requirements pursua el and tax advice regarding their respective 232 I]) SELLER DISCLOSURE: Seller knows of no nt to FIRPTA. 233 facts materially affecting the value of the Real Prope are not readily observable and which have not been rty which 294 preceding sentence, Seller extends and intends no warran disclosed to Buyer. Except as provided for in the 235 ty and makes no representation of any type, either express or implied, as to the physical condition or history zar of the Property. Except as otherwise disclosed In writing Seller has received no written or verbal notice 237 from any governmental entity or agency as to a currently uncorrected building, environmental or safety code violatio n. 238 PROPERTY MAINTENANCE, CONDRiON, INSPECTIONS AND EXAMINATIONS 299 11. PROPERTY MAINTENANCE: Except for ordina 240 ry wear and tear and Casualty Loss, Seller shall mainta Property, including, but not limited to, lawn, shrubbery, and in the 241 pool, in the condition existing as of Effective Date IS Maintenance Requirement). ("AS 242 12. PROPERTY INSPECTION; RIGHT TO CANCEL: ao. (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 244 days after Effective Date (inspection Period, within 10 (if left blank, then 15) 245 performed as Buyer shall desire during the Inspe Will* to have such Inspections of the Property 248 ction Period. If Buyer determines, In Buyer's sole dIsarethm, Mat the Property is not acceptable to Buyer 247 delivering written notice of such election to Seller prior , Buyer may terminate this Contract by 248 timely terminates this Contract, the Deposit paid to expiration of Inspection Period. If Buyer 248 shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all further obligations mo under this Contract; however, Buyer shaft be responsible for prompt payment for such inspections, 251 Property resulting from such Inspections, and shall for repair of damage to, and restoration of, the 252 provid e Seller with paid receipts for all work done on the Property (the preceding provision shall ye survive termination of this Contract). Unless Buyer atomises the right to terminate granted herein, Buyer 254 accepts the physical condition of the Property and any violation of governmental, building, enviro ze nmental, and safety codes, restrictions, or requirements, but subject to Seller's continuing AS 250 responsible for any andall repairs andimprovements iS Maintenance Requirement, and Buyer shall be en (b) WALK-THROUGH INSPECTION/RE-INSPECTION: On requir edby Buyer's lender. the day prior to Closing Date, or on Closing 258 prior to time of Closing, as specified by Buyer, Buyer or Date 259 Buyers representative may perform a walk-through (and follow-up walk-through, if necessary) inspection no Personal Property are on the Property and to verify of the Property solely to confirm that all items of al that Seller has maintained the Property as required by AS IS Maintenance Requirement and has met all other contra the am (c) SELLER ASSISTANCE AND COOPERATION ctual obligations. am IN CLOSE-OUT OF BUILDING PERMITS: If inspection of the Property Identifies open or needed Buyer's KM building permits, then Seller shaamometly-deliver-te WA fekttifitt40-ini ff e vemeN9-te- the-ProPef fy- " S "ef e- the- subjeek- S - etleh- oPen- ere promptly cooperate in good faith with Buycr' o efforts to obtain estimates of repairer- fleeded-4aemtiterand- shall es, reeeive-sedi-Perwirt-issoesr-GelleSe-ebligetieri-te-eeeperere- ) or ether Wofk nocoocary to WA ehall-inelede-Sefferle-exeeetien-ef-neeesse/ elithefitatienereefisemsref- ellief- deemnents- neecostitY4 or- NA RuYef- le- condeel- inefteelietie- end- heve-00hrleies Xce beecone-abiiffaled46-exfrefleilVineneY7 *close all open permits prior to Closing Buyers Page 5 0112 Soiler's Initials Revs/150 2015 Florida Realtorge and The Florida Bar. M rights reserved. Paeluomd tat *Fame by NY-oglx ecrro mesa mk Hoed Fay.kliApn 4t026 yw 14.5-ackoon 124 Pare Monceau EFTA00604396  271 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyers option 272 cost, Seller 1.I/11!, at Closing, assign all assignable repair, treatment and and maintenance contracts and warranties 273 to Buyer. 274 ESCROW AGENT AND BROKER 27s 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively "Agent") receiving the Deposit, other funds 276 and other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow 277 within the State of Florida and, subject to COLLECTION, disburse them In accordance with terms and conditions 278 of this Contract Failure of funds to become COLLECTED shall not excuse Buyer's performance. When sa demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the conflicting Deposit, Agent 280 may take such actions permitted by this Paragraph 13, as Agent deems advisable. If in doubt as to Agent's duties 281 or liabilities under this Contract, Agent may, at Agent's option, continue to hold the subject matter az of the escrow until the parties agree to fts disbursement or until a final judgment of a court of competent jurisdiction shall 283 determine the rights of the parties, or Agent may deposit same with the clerk of the circuit court having jurisdiction 284 of the dispute. An attorney who represents a party and also acts as Agent may represent such party In such zas