171, 172, 175-Kurzon, Inc.
....
;-iIl.
This form has been approved for use in ~L"a,rdard real estate transactions and has been ap~ 'oved by the Executive Committee of the
Orange County Bar Association. Inc. and the Executive Committee of the Orlando-Winter Park Board of Realtors. Inc.
This is a legally binding contract when properly completed and executed, If not fully understood, seek legal advice before signing.
CONTRACT FOR SALE AND PURCHASE
City of Sanford ~~~
Sanford, F.L )2771 hereinafter called the seller, and
Kurzon, Inc. his wife,
of P . U. Box 771 Ivlai t land, l"1 hereinafter called the buyer,
hereby agree that the seller shall sell and the buyer shall buy the following described property UPON THE TERMS AND CONDITIONS
HEREINAFTER SET FORTH, WHICH SHALL INCLUDE THE STANDARDS FOR REAL ESTATE TRA:-':SACTIONS SET FORTH IN
THIS CONTRACT.
of
1. Legal Description of Real Estate, located in
space is insu fficient.)
Seminole
County, Florida. (Attach description if
Lot 8 & E.
11' of vacd st
PB 1 Pg 56
Sanford Ave.
on W., Blk 8,
Tier A
Town of Sanford
Street Address:
Personal Property Included:
2. Purchase Price and Method of Pavment:
Purchase Price is Two Thousa,r{d ---($2,000. )--------------------------------- DOLLARS
$ 100.00 depositpaidto City of S::lnf'orn ( )Cash (x )Check
-0-
$ approximate principal balance on first mortgage to be (
mortgage holder
method of payment
Purchase money note and mortgage to seller, Interest rate
method of payment
) Assumed; (
) Obtained.
Interest
% per annum;
$
-0-
% per annum;
$
-0-
Other Payments (including second mortgage to be assumed, if any)
$
1900.00
2,000.
Cash, or cashier's check drawn on local fund, on closing and delivery of deed. (Or such greater or Lesser amount
as may be necessary to complete payment of purchase price after credits, adjustments, and prorations.
$
Total Purchase Price.
3. TIME FOR ACCEPTANCE: If this contract is not executed and delivered by seller and buyer on or before Aug. 15, 198~he
aforesaid deposit shall be returned to buyer and this agreement shall be null and void. The date of contract, for purposes of performance,
shall be regarded as the date when the last one of the seller and buyer has signed this contract.
4. CLOSING DATE: This contract shall be closed and the deed shall be delivered on or before (date) 120 days
; and seller agrees to deliver possession on or before (date) C 10 s ing
This sale shall be closed in the office of Builders Title Insurers
T.I. in lieu of abstract
5, EVIDENCE OF TITLE: Within XXXXXXXXiays from the date of this contract, the seller shall, at his expense, deliver to the buyer
or his agent in accordance with Standard A a complete abstract of title.
6. CONVEYANCE: Seller shall convey title to the aforesaid property to the buyer by
deed subject to matters contained in this contract and taxes for the year of closing.
7. EXPENSES: State surtax and documentary stamps which are required to be affixed to the instrument of conveyance, intangible
personal property taxes and the cost of recording the purchase money mortgage shall be paid by the seller. Documentary stamps to be
affixed to the note or notes secured by the purchase money mortgage and the cost of recording the deed shall be paid by the buyer.
Costs, if any, or preparation of closing documents and closing fee shall be borne equally by the seller and buyer.
\varrantv
8, RESTRICTIONS AND EASEMENTS: The buyer shall take title subject to: (a) Zoning and/or restrictions and prohibitions imposed
by governmental authority, (b) Restrictions appearing on the plat or imposed by the developer, (c) Other (such as leases - specify)_
of record .
9. SPECIAL CLAUSES:
STANDARDS FOR REAL ESTATE TRANS
A. ABSTRA~ The comp lete abstract of title shall be prepared by a r!;Jl Ie abstract firm certifying to be an accurate
syno~sis ?f the instruments arfe6ting th~ title to that re~l pr~perty recorded in p\!PliC:;rlfco.rds of t~at county to t~e date of th.is contract,
showlllg III the seller a marketable tin~m~cordance With tItle standards ad.ol1~d'rrom time-to time by the Flonda Bar;--subJect only to
liens, encumbrances, exceptions or qualificatiollS.. set forth in this co~~ and those wh-ich-shall b~...di.srJw~i!fAr~ seller at or. before
closing. The abstract shall contain all recorded Pliits..inVOIVing~he ut5Ject property. Buyer shall haveA~M..~s from tne date of
receiving said abstract to examine the same and if the titie'is.(pu nmarketable, the buyer or his attorney shall within this period notify
the seller in writing specifying the defects and the seller sh.at 'have ninety days from the receipt of such notice to cure the defects so
specified. If the buyer finds from said abstract that the Iter's title-is-ul1marketable because of matters not excepted in this contract and
gives the seller a written statement of the defects the seller consioel's..Jhat any of the defects set forth by the buyer are without
merit, the se lieI' may within seven days after re . t of the buyer's statement 'of defects, do one of the following: (1) Purchase, at seller's
expense, and deliver to the buyer or his age a title guarantee commitment issued-by. a qualified title insuror, acceptable to the buyer
and licensed to do business in the St ,of Florida, on a form of commitment approved for use by the office of the Insurance
Commissioner of the State of Flori , agreeing to issue to the buyer, at seller's expense. upon..the recording of the deed referred to in
paragraph 6 herein, an owner ntee in the amount of the purchase price insuring the title of'the~buyer to that real property subject
only to liens, encumbrance exceptions or qualifications set forth in this contract and those which sh'aJ.Lbe discharged by seller at or
before closing or (2) mit a copy of this contract, the buyer's statement of objectionable defects, and....the abstract to the Title
Standards Comll1itt ' of the Orange County Bar Association and request a decision on the merits of the defects s~ciG.ed by the buyer. A
written decisio ' the Title Standards Committee if rendered within seven days after submission to the Committee SlhH1,JJe binding on
the buyer and he seller. If the Title Standards Committee's decision is that the buyer's objections are well founded the sel~all cure
thp npfects withilythe time above allowed.
-. - -- - --
-----
B. EXISTING MORTGAGE: The seller shall furnish prior to closing, a written statement from a mortgage holder setting forth the
principal balance, method of payment, alCpether the mortgage is in good standing. If ~ is a chargE' for the change of ownership
records, by the mortgagee, it shall be bor qually by the parties, Seller shall receive as cr~ Jat closing, an amount equal to the escrow
funds held by the mortgagee.
C.PURCHASE'1\10NEY MORTGAGES: Any purch"se money notes and mortgages required by the contract shall follow the forms
generally accepted and used in the county where the land is located. Any purchase money mortgage shall provide for insurance against
loss by fire with extended coverage in an amount not. less than the full insurable value of the improvements. In a first mortgage, the note
and. mortgage shall provide for acceleration, at the option of the holder, after thirty (30.) days default and in, a. second mortgage, after
fifteen (15) days default. A second mortgage shall require a mortagagor to keep all prior lie.ns.and encunibrances"in good standing. Buyer
shall have the right to prepay all or part of the principal at any time or times with interest. to"date or..payment without penalty. All
prepayments shall be applied to thp Installment or installments of principal last maturing. I'
- . J.. ~.
D. SURVEY: If the buyer desires a survey he shall have the property survey~d aChise~pense prior to closing date. If the survey shows an
encroachrne nt, the same shall be treated as a title defect.
E, INFESTATION PROVISIONS: Seller at his expense shall furnish to buyer prior to closing a written stat\'menLof a licensed and
bonded exterminating company showing whether there are any live wood destroYing organisms in the improvements o(said property, and
the seller shall pay all costs of the treatment required to remedy -any such infestation so reported including the cost of repairing or
replacing all portions of said improvements which have been damaged structurally, However, in the event that the costs to be incurred by
the seller in accordance with this paragraph are more than two per cent (2%) of the purchase price, then at the seller's option, he may
cancel the contract with in Jive (5) days. of the receipt of the tennite inspection report by ,giving written '.notice to the buyer and
thereupon all parties will be released from any liability under this'contract. I" " . .- t . '.
F. LEASES: The seller shall furnish copies of all written leases to the buyer prior to closing"and if there-are any persons in possession
without written leases, a written stateme nt from such persons specifying the nature and duration of the occupancy shall be furnished to
the buyer by the seller prior to the closing date.
G. DEFAULT BY BUYER: If the buyer fails to!erform any of the covenants of this contract within the time specified, the deposit this
date paid by the buyer aforesaid may be retaine by or for the account of the seller as consideration for the execution of this contract
and in full settlement of any claims for damages and all parties shall be relieved of all obligations under this contract, and each party shall
execute a separate release of the other party at this time; or the seller, at his option, may proceed at law or in equity to enforce his legal
rights under this.,contrac.t~including...h.u1.. uot-JiQlited_to._theJighLta bring ii suit fpr'specific .performance. , .
H. DEFAULT BY SELLER: If the seller fails to perform any of the covenants of this Contract other than the failure of the' seller to
render his title marketable after diligent effort, the aforesaid depositshall at the option of the buyer be returned to the buyer on demand
and all parties shall execute a release of the other party of their rights and obligations under this contract; the buyer, however, at his
option may proceed in law or equity to enforce his legal rights under this contract, including, but not limited to, the right of specific
performance.
I. TIME OF THE ESSENCE: Time is of the essence of this Contract for Sale and Purchase.
J. PRORATIONS: Taxes, rents, insurance premiums and interest shall be prorated as of the date of delivery of deed unless-otherwise
specified. If the amount of taxes for the current year cannot be ascertained, rates, millages, and assessed valuations for the previous year,
with known changes, shall be used, due allowance being made for homestead or other exemptions if allowed. Tax proration based on an
estimate may be readjusted subsequently where so agreed in the closing statement.
K. Buyer shall establish escrow accounts as required by Mortgagee.
L. REFUSAL OF SPOUSE TO SIGN: Failure or refusal of the wife or husband of anyone of the sellers or of the husband of anyone of
the buyers who is a married woman, to execute the deed or mortgage required hereunder shall be deemed default on the part of the seller
or buyer. ' I '.. "
M, RISK OF LOSS: If the improvements are damaged by fire or casualty before delivery of the deed and can be restored to substantially
the same condition as now,within a period of 60. days thereafter, seller shall so restore the improvements and the closing date and date of
delivery of possession hereinbefore provided shall be extended accordingly. If seller fails to do so, the buyer shall have the option of (1)
taking the property as is, together with insurance proceeds, if any, or (2) cancelling the contract, and all deposits are to be forthwith
returned to the buyer and all parties snail be released of any and all obliga~iqn and liabjlity_.
. ..- -. -r" ,'" " r
N. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: 'Typewtitten or handwritten provisions inserted in this form shall control all
printed provisions in conflict therewith,
O. OTHER AGREEMENTS: No .a~r~rments or representations, unless incorporated in this contract shall be binding upon any of the
parties.
P. APPLICATION OF DEPOSIT ON DEFAULT: In the event buyer fails to perform and the deposit aforesaid is retained the amount of
such deposit shall be divided equally between the Realtor and the seller; provided, however, that the amount to be retained or received by
the Realtor shall not exceed the full amount of the commission and any excess shall be paid to the seller. If the transaction shall not be
closed because of failure of the seller to perform, then seller shall pay said commission in full to the Realtor on demand.
Q, PERSONS BOUND: The covenants herein contained shall bind, and the benefits and advantages shall inure to, the respective heirs,
executors, administrators and successors of the parties hereto. Whenever used the singular number shall include the plural, the plural the
singular, and the use of any gender shall include all genders. This contract shall not be assigned by either seller or buyer without the
written consent of the other.
7/.:rO/RO
(SEAL)
(SEAL)
(SEAL)
(SEAL)
Buyer
COMMISSION TO REALTOR: Seller acknowledges the employment of the Realtor -;tJ /1'9
and agrees to pay the Realtor a commission in accordance with the commission agreement.
Exo~t.d by ~IIELfl,
Ma.,yOT
'r,i~y ~r ~anforrl) ~lorida
WITNESSE~O .re. require.d.)
~/~~~'~
1980
(SEAL)
(SEAL)
(SEAL)
(SEAL)
Earnest money deposit received on
to clearance. Firm name:
. day of
Seller
, 19 _, to be held in escro.w subject to this contract; if check, subject
By:
Signature of Realtor, Attorney, or Agent
......
I '
This form has been approved for use in sl'~..dard real estate transactions and has been ap.-.6ved by the Execu tive Committee of the
Orange County Bar Association, Inc. and the Executive Committee of the Orlando-Winter Park Board of Realtors. Inc.
This is a legally binding contract when properly completed and executed. If not fully understood, seek legal advice before signing.
of hereinafter called the seller, and
his wife,
of 0 hereinafter called the buyer,
hereby agree that the seller shall sel an the uyer shal buy the following described property UPON THE TERMS AND CONDITIONS
HEREINAFTER SET FORTH, WHICH SHALL INCLUDE THE STANDARDS FOR REAL ESTATE TRANSACTIONS SET FORTH IN
THIS CONTRACT.
CITY O.~
kiB .:ira,
1. Legal Description of Real Estate, located in
space is insu fficient.)
.s~;J1//L/O L ~
County, Florida. (Attach description if
Lo'T el
8LOck 8, CEt...E~Y AVE: /7,DD/T/QA/,
S/1NI="OR1>, rLA. ~8.. ~ - ,.os ..t~s,
p / N'..e;' /9 U F. ,\, A /J/ r-O R D PLfi.,
, /
Street Address: / '? (] c..
Personal Property Included:
2. Purchase Price and Method of Pavment:
. ~ 00'
Purchase Price is r(/)t> 77lou S-.A ND ~ N n /(')0 ("-::::;;.O () 0 -)
$ / Ot). OD deposit paid to C I ry () p .s:/1 AI Po R D
DOLLARS
) Cash (X) Check
$
approximate principal balance on first mortgage to be (
mortgage holder
method of payment
Purchase money note and mortgage to seller. Interest rate
method of payment
) Assumed; (
) Obtained.
Interest.
% per annum;
$
% per annum;
$
Other Payments (including second mortgage to be assumed, if any)
$ It q 00. 00 Cash, or cashier's check drawn on local fund, on closin~ and delivery: of de.ed. (Or such greater ,or Lesser amount
. . as may be necessary to complete payment of purchase price after credIts, adjustments, and prorations,
$ ~OOO, 00 Total Purchase Price.
3. TIME FOR ACCEPTANCE: If this contract is not executed and delivered by seller and buyer on or before 7/28 /ao , the
aforesaid deposit shall be returned to buyer and this agreement shall be null and void. The date of contract, for purposes of performance,
shall be regarded as the date when the last one of the seller and buyer has signed this contract.
4. CLOSING DATE: This contract shall be closed and the deed shall be delivered on or before (date) / bRIl?l
; and seller agrees to deliver possession on or before (date) /1':<8/8/
This sale shall be closed in the office of A7/"Y poP, P/RJT f:ElDEp/9-L 01= .r;;/YI/A1DL~
J/ TI Tt.. E' //1/5 / /1/ '- / E tI 01= /J is STRI'7 c 7;
5. EVIDENCE OF TITLE: Within - days from the date of this contract, the seller shall, at his expense, deliver to the buyer
or his agent in accordance with Standard A a complete abstract of title.
6. CONVEYANCE: Seller shall convey title to the aforesaid property to the buyer by tL//9R ~AAl7'""Y
deed subject to ma tters contained in this contract and taxes for the year of closing.
7. EXPENSES: State surtax and documentary stamps which are required to be affixed to the instrument of conveyance, intangible
personal property taxes and the cost of recording the purchase money mortgage shall be paid by the seller. Documentary stamps to be
affixed to the note or notes secured by the purchase money mortgage and the cost of recording the deed shall be paid by the buyer.
Costs, if any, or preparation of closing documents and closing fee shall be borne equally by the seller and buyer.
1:> ~ ,e:;"b
. --
8. RESTRICTIONS AND EASEMENTS: The buyer shall take title subject to: (a) Zoning and/or restrictions and prohibitions imposed
by governmental authority, (b) Restrictions appearing on the plat or imposed by the developer, (c) Other (such as leases - specifYl_
"'OF RIEc,t'JRD;
9. SPECIAL CLAUSES:
...(
STANDARDS FOR REAL ESTATE TRANSACTIONS
A. ABSTRACT OF TI : The. comp lete abstract of title shall be prepared y a reputable abstract firm certifying to be an accurate
synopsis of the instruments ffecting_the title to that real property recorded' public records of that county to the date of this contract,
showing in the s~ller a market Ie title in accordance with ti tie standards opted from time to time by the Florida Bar, subject only to
liens, encumbl"li'llces, ex~ptions ,qualifications .set forth in this co act and those which shall be discharged by seller at or before
closing, The abstract shall contain recorded plats inv6lving the s ject property. Buyer shall have days from the date of
receiving said abstract to examine the sa and if the title is found marketable, the buyer or his attorney shall within this period notify
the seller in writing specifying the defect nd the seller shall e ninety days from the receipt of such notice to cure the defects so
specified. If the buyer finds from said abstrac hat the seller' Itle is unmarketable because of matters not excepted in this contract and
gives the seller a written statement of the defec and th eller considers that any of the defects set forth by the buyer are without
merit, the seller may within seven days after receipt t buyer's statement of defects, do one of the following: (1 l Purchase, at seller's
expense, and deliver to the buyer or his agent a title antee commitment issued by a qualified title insuror, acceptable to the buyer
and licensed to do business in the State of Flori ,0 a form of commitment approved for use by the office of the Insurance
Commissioner.7of the.St~tte of Florida, agre.e.in~.,to ssue to t buyer, at seller's expense, upon the recording of the deed referred to in
par<tg.rap!l .6\\:1~~ein"~~wne,,r. guarant.,ee-'in 'the' o~nt of the, p chase price insuring the title of the buyer to that real property subject
only to 11;;"1s,' q,ricumoranc,es', ,ex ce,rt..igns' or ' alifications set fort . this contract and those which shall be discharged by seller at or
before closing ~.r, (2) subfui-t a copy of t s contract, the buyer's s ment of objectionable defects, and the abstract to the Title
Standards Commi ttee of the Orange Co y Bar Association and request a cision on the merits of the defects specified by the buyer. A
written decision of the Title Standar ommittee if rendered within seven s after submission to the Committee shall be binding on
the buyer and the seller, If the Tit Standards Committee's decision is that th lIyer's objections are well founded the seller shall cure
the defects within the time above lowed.
B. EXISTING MORTGAGE: The seller shall furnish prior to closin~, a written statement from a mortgage holder setting forth the
principal balance, method of payment, al"-~hether the mort~a~e is in good standing. If rle is a charge for the change of ownership
records. by the mprtgagee, it shall be bo\....,qually by the parties. Seller shall receive as CI, at closing, an amount equal to the escrow
funds held by the mortgagee, ...
C. PURCHASE'MONEY MORTGAGES: Any purchase money notes and mortgages required by the contract shall follow the forms
generally accepted and used in the county where the land is located. Any purchase money mortgage shall provide for insurance against
loss by fire with extended coverage in an amount not less than the full insurable value of the improvements. In a first mortgage, the note
and mortgage shall provide for acceleration, at the option of the holder, after thirty (30) days default and in a second mortgage, after
fift~5) days default. A second mortgage shall require a mortagagor to keep all prior liens and~n\ymbrancesil1 ~d sta,pding, Buyer
shall have the right to prepay all or part of the principal at any time or times with interest-to date 'of':p'~'yment'WithQ.ut penalty. All
prepayments shall be applied to the II1stallment or installments of principal last maturing. '. . \, j __ '-.. A.:) -, '...", ,
.~..) '- ," _'- ,_ c-..: \. "\ ::\ '\,."\ \\ ~\...
D. SURVEY: If the buyer desires a survey he shall hav~Jh~ property .surv~ved at hiseJ{pi!nse~pflOl"to-c!osjng ~~. f,f th)! su~ey ~h'c,>:vs an
encroachme nt, the same shall be treated as a title defect. , ' " r. .
E. INFESTATION PROVISIONS: Seller at his expense shall furnish to buyer prior to closing a written stat."ment of a licensed and
bonded exterminating company showing whether the;e ar~ ~ny, live \yood,~estroying oq~anisms in the i~prove!TIent~(of said proper,t:y, and
the seller shall pay all costs of the treatment reqUired to remedy 'any such mfestatlOn so reported mcludmg tne cost of repalrll1g or
replacing all portions of said improvements which have been damaged structurally, However, in the event that the costs to be incurred by
the seller in accordan~w.ith 0~s paragraph are. more ~~an_two,per c~nt (2% )oof. the purchaS\: p~i<:e, th!l~ at-the ~lIer's option, he may
cancel the contract wifhll1 fIve (5') days'of the' receipt of the termite II1spectlOn ;;'eportJby glVll1g, wntten 'notIce" to the buyer and
thereupon all parties will be re}e~!lE!dJrgm'lliiy liabil!!'y under this contr,!lct. _ \" ~" \,..... ,I" <..
F. LEASES: The seller shall furnish cogies of all ,w',ritten leases to the buyer pri<:>l'" to closing llnd if there ar~:a(lY persons in possession
without written leases, a written statement from,such persons specifying the nature andClunition of the 'occupancy shall be furnished to
the buyer by the seller prior to the closing date. . "
G. DEFAULT BY BUYER: If the buyer fails to!erform any of the covenants of this contract within the time specified, the deposit this
date paid by the buyer aforesaid may be reiaine by or for the account of the seller as consideration for the execution of this contract
and in full settlement of any claims for damages and all parties shall be relieved of all obligations under this contract, and each party shall
execute a separate release of the other party at t.his time; or the,.seller, at his option, may proceed at law or in equity to enforce his legal
rights under this contract, includipg,p...l!t not-Iimi~xd to, th~ right to bring ,a suit for specific performance~ _ _
" ,.~, -' '" _l" ,-......,..." ., , ' ~" \.; \
H, DEF AUL T BY SELLER: If the seller fails to perfor;~'ny 6f ~he' c{}venants of this oontr:lCt"other than the failure of th'e'seller to
render his title marketable after diligent effort, the aforesaid deposit shall at the option of the buyer be returned to the buyer-on demand
and all parties shall execute a release of the other party of their rights and obligations under this contract; the buyer, however, at his
option may proceed in law or equity to enforce his legal rights under this contract, including, but not limited to, the right of specific
performance.
..
1. TIME OF THE ESSENCE: Time is of the essence of this Contract for Sale and Purchase.
J. PRORATIONS: Taxes, rents, insurance premiums and interest shall be prorated as of the date of delivery of deed unless.otherwise
specified, If the amount of taxes for the current year cannot be ascertained, rates, millages, and assessed valuations for the previous year,
with known changes, shall be used, due allowance being made for homestead or other exemptions if allowed. Tax proration based on an
estimate may be readjusted subsequently where so agreed in the closing statement. '
K. Buyer shall establish escrow accounts as required by Mortgagee.
\
"
L. REFUSAL OF SPOUSE TO SIGN: Failure or refusal of the wife or husband of anyone of the sellers or ofothe husband Of a~y);;ne of
the buyers who is a,married woman, to execute the deed or mortgage required hereunder shall be deemed default on the part of the seller
or buyer. ,\ ~.... \ ..-
'," oJ. t;,. ,..~_ \
M, RISK OF LOSS: If the improveme nts are damaged by fire or casualty before delivery of the deed and can be restored to substalltially
the. same condi!i~~ as I{ow. within a peri?d of 60 days thereafter, seller. shall so restore t~e improvements and the closing date a~d date of
delIvery of P~sessI6n<ilie~8.l.nbefore prOVIded shall be extended accordl\1gly, If seller falls to do so, the buyer shall have the option of (1)
taking the property 4as~, tqg~hel\. with insurance proceeds, if any, or (2) cancelling the contract, and all deposits are to be forthwith
returned to the buyer and'irl1,parii~'sIi'9.1l be released of any and all obligation and liability.
- \." \~, - .... -> - ..,~-^ -:: r-. "';.' -'.. - ,l. ./' \" '~"\ y. '\
N. TYPEWRITTEN-\OR ,HANDWRtTrEN PROVISIONS: Typewritten or ,handwritten...JHovisions inserted in this form shall control all
printed provisions in confljct'th~rewith,"\ \'> -:1.'\ -'" '-C, \, "" \. '. \ \ ~ _
O. OTtIER AGREEMENTS: No agreements or representations, unless incorporated in this contract shall be binding upon any of the
parties;.,,:'::' ~.; ", ~ '\. "A' . \. , :,
p, APPLICATION OF DEPOSIT ON DEFAULT: In the event buyer fails to perform and the deposit aforesaid is retained the amount of
such deposit shall be divided equally between the Realtor and the seller; provided, however, that the amount to be retained or received by
the Realtor shall not exceed the full amount of the commission and any excess shall be paid to the seller. If the transaction shall not be
closed because of failure of the seller to perform, then seller shall pay said commission in full to the Realtor on demand.
Q, PERSONS BOUND: The covenants herein contained shall bind, and the benefits and advantages shall inure to, the r~spectiv,e heir~,
executors, administrators and successors of the parties hereto. Whenever used the singular number shall include the' pli:.rral;:the plural the
singular, and the use of any gender shall include all genders. This contract shall not be assigned by either seller or buyer without the
written consent of the other.
7~7/80
~SES' (T:;requ;red)
~~,. ~~
;;.uyer
.11/ -8
.. ,
(SEAL)
(SEAL)
(SEAL)
(SEAL)
COMMISSION TO .REALTOR: Seller acknowledges the employment of the Realtor
and agrees to pay the Realtor a commission in accordance with the commission agreement.
"'
'-
W1TNESSUo.re req~.
~~
Seller
(SEAL)
(SEAL)
(SEAL)
(SEAL)
"-
Earnest money deposit received or/7l11 day of:rr/LY , 1~, to be held'-ir escr
to clearance. Firm name: C trY a;:::- X'.I'1A/ .c:-oR D" By:
/
,...
"
,...
"
"-
.
This form has been approved for use in L_.l'dard real estate transactions and has been aPt-,roved by the Executive Committee of the
Orange County Bar Association, Inc. and the Executive Committee of the Orlando-Winter Park Board of Realtors, Inc.
This is a legally binding contract when properly completed and executed. If not fully understood, seek legal advice before signing.
CONTRACT FOR SALE AND PURCHASE
C, ty 01" Sanford 1t~$iM
of Senf'oro. Fl ;2771 hereinafter called the seller, and
Kur~on ne. ffiXUol
of P.(.,. Box 7?1 raa' tland. P'L. hereinafter called the buyer,
hereby agree that the seller shall sell and the buyer shall buy the following described property UPON THE TERMS AND CONDITIONS
HEREINAFTER SET FORTH, WHICH SHALL INCLUDE THE STANDARDS FOR REAL ESTATE TRANSACTIONS SET FORTH IN
THIS CONTRACT.
1. Legal Description of Real Estate, located in
space is insufficient.)
Sem~nole
County, Florida. (Attach description if
Lots ~t11.t2,13.t4.Blk B and Lots 6,8.10,12.14 Blk A or
Celery Ave. Add~'tlon PB 1 PG 125
Street Address: Cvoress and Pi.ne Streets
Personal Property Included:
2. Purchase Price and Method of Payment:
Purchase Price is
$ .,00.
$ -0-
TwentY' 'fhousand ($20, 000. ) ------- ----------- DOLLARS
R; ~s Real U Escrow ( ) Cash ( ) Check
$ -0-
deposit paid to
approximate principal balance on first mortgage to be (
mortgage holder
method of payment
Purchase money note and mortgage to seller. Interest rate
method of payment
) Assumed; (
) Obtained.
interest.
% per annum;
% per annum;
-0-
$
Other Payments (including second mortgage to be assumed, if any)
$
19.500. Cash, or cashier's check drawn on local fund, on closing and delivery of deed. (Or such greater or Lesser amount
as may be necessary to complete payment of purchase price after credits, adjustments, and prorations,
$ 20.000.
Total Purchase Price.
3. TIME FOR ACCEPTANCE: If this contract is not executed and delivered by seller and buyer on or before May 16, 19~~e
aforesaid deposit shall be returned to buyer and this agreement shall be null and void. The date of contract, for purposes of performance,
shaH be regarded as the date when the last one of the seller and buyer has signed this contract,
4. CLOSING DATE: This contract shall be closed and the deed shall be delivered on or before (dateL 120 days
C.Los'na-
; and seHer agrees to deliver possession on or before (date) 0
This sale shaH be closed in the office of Builders Ti. tIe Insurors
T.T. in lieu of abstract
5. EVlDENCE OF TITLE: Within XX~ays from the date of this contract, the seHer shaH, at his expense, deliver to the buyer
or his agent in accordance with Standard A a complete abstract of title.
6. CONVEYANCE: Seller shall convey title to the aforesaid property to the buyer by Jarranty
deed subject to matters contained in this contract and taxes for the year of closing.
7. EXPENSES: State surtax and documentary stamps which are required to be affixed to the instrument of conveyance, intangible
personal property taxes and the cost of recording the purchase money mortgage shall be paid by the seller. Documentary stamps to be
affixed to the note or notes secured by the purchase money mortgage and the cost of recording the deed shall be paid by the buyer.
Costs, if any, or preparation cif closing documents and closing fee shall be borne equally by the seller and buyer.
8. RESTRICTIONS AND EASEMENTS: The buyer shall take title subject to: (a) Zoning and/or restrictions and prohibitions imposed
by governme ntal authority, (b) Restrictions appearing on the plat or imposed by the developer, (c) Other (such as leases - specify)_
ot record
9. SPECIAL CLAUSES:
Riggs Realty 1fa~-VGS the;r real estate comm' 8S~ on from the C .1:1'
of Sanford.
STANDARDS FOR REAL ESTATE TRANSACTIONS
A. ABSTRACT OF TITLE: The complete abstract of title shall be prepared by a reputable abstract firm certifying to be an accurate
synopsis of the instrume nts affecting the title to that real property recorded in public records of that county to the date of this contract,
showing in the seller a ma rketable title in accordance with ti tIe standards adopted from time to time by the Florida Bar, subject only to
liens, encumbrances, exceptions or qualifications Set- forth in this contract and those which shall be diseharQ(lJh:hy seller at or before
closing, The abstract shall contain all recorded plats involving the subject property, Buyer shall have ~ays from the date of
receiving said'abstract to examine the same and if the title is found unmarketable, the buyer or his attorney'shall within this period notify
the seller in writing specifying the defects and the seller shalI have ninety days from the receipt of such notice to cure the defects so
specified. If the buyer finds from said abstract that the seller's title is unmarketable because of matters not excepted in this contract and
gives the seller a written statement of the defects, and the seller considers that any of the defects set forth by the buyer are without
merit, the seller may within seven days after receipt of the buyer's statement of defects, do one of the following: (1) Purch'ase, at seller's
expense, and deliver to the buyer or his agent a tItle guarantee commitment issued by a qualified title insuror, acceptable to the buyer
and licensed to. do business in the State of Florida, on a form of commitment approved for use by the office of the Insurance
Commissioner of the State of Florida, agreeing to issue to the buyer, at seller's expense, upon the recording of tne deed referred to in
paragraph 6 herein, an owner'guarantee in the amount of the purchase price insuring the title of the buyer to that real property subject
only to liens, encumbrances, exceptions or qualifications set forth in this contract and those \vhich- shall be discharged by seller at or
before closing or (2) submit a copy of this contract, the buyer's statement of objectionable defects, and the abstract to the Title
Standards Committee of the Orange County Bar Association and request a decision on the merits of the defects specified by the buyer. A
written decision of the Title Standards Committee if rendered within seven days after submission to the Committee shall be binding on
the buyer and the seller. If the Title Standards Committee's decision is that the buyer's objections are well founded the seller shall cure
thp rlpfpt't< within thp timP ~hn\'P ~llnwprl
B. EXISTING MORTGAGE: The seller shall furnish prior to closing, a written statement from a mortgage holder setting forth the
principal balance, method of payment, ano'''' hether the mortgage is in good standing. If th"~ is a charge for the change of ownership
records, by the mortgagee, it shall be bor ually by the parties. Seller shall receive as cr{at closing, an amount equal to the escrow
funds held by the mortgagee. .,,-'
C. PURCHASE'MONEY MORTGAGES: Any purchase money notes and mortgages required by the contract shall follow the forms
generally accepted and used in the county where the land is located. Any purchase money mortgage shall provide for insurance against
loss by fire with extended coverage in an amount not less than the full insurable value of the improvements, In a first mortgage, the note
and mortgage shall provide for acceleration, at the option of the holder, after thirty (30) days default and in a second mortgage, after
fifteen' (.15) days default. A second mortgage shall require a mortagagor to keep all prior liens and encumbrances in good standing. Buyer
shall have the right to prepay all or part of the principal at any time or times with interest to date of payment without penalty. All
prepayments shall be applied to the Installment or installments of principal last maturing, .
c -.
D. SURVEY: If the buyer desires a survey he shall have the property surveyed at his expense prior to closing date. If the survey shows an
encroachme nt, the same shall be treated as a title defect. ~-
I
E. INFESTATION PROVISIONS: Seller at his expense shall furnish to buyer prior to closing a written statement of a licensed and
bonded exterminating company showing whether there are any live wood. destroying organisms in the improvements of said property, and
the seller shall' pay all costs of the treatment required to remedy any such infe'station so reported including the cost of repairing or
replacing all portions of said improvements which have been damaged structurally. However, in the event that the costs to be incurred by'
the seller in accordance with this paragraph are more than two per cent (2%) of the purchase price, then at thEC seller's option, he may
cancel the contract within five (5) days of the receipt of'the termite inspection report by giving written .notice -to the buyer and
thereupon all parties will be released from any liability under this contract.
F. LEASES: The seller shall furnish copies of all written leases to the buyer prior to .c1osing and if there are any persons in possession
without written leases, a written statement from such persons specifying the nature and duration of the occupancy shall be furnished to
the buyer by the seller prior to the closing date. ,"
G. DEFAULT BY BUYER: If the buyer fails to perform any of the covenants of this contract within the time specified, the deposit this
date paid by the buyer aforesaid may be retained by or for the account of the seller as consideration for the execution of this contract
and in full settlement of any claims for damages and all parties shall be relieved of all obligations under this contract, and each party shall
execute a separate release of the other party at this time; or the seller, at his option, may proceed at law or in equity to enforce hie legal
rights under this contract, ir:lCluding, ~ut not-limited to, the right.to bring a suit for specific perform~nce. ,
H. DEFAULT BY SELLER: If the seller fails to perform any of the covenants of this contract other than the failure of the seller to
render his title marketable after diligent effort, the aforesaid deposit shall at the option of the buyer be returned to the buyer" on demand
and all parties shall execute a release of the other party of their rights and obligations under this contract; the buyer, however; at his
option may proceed in law or equity to enforce his legal rights under this contract, including, but not limited to, the right of specific
performance.
1. TIME OF THE ESSENCE: Time is of the essence of this Contract for Sale and Purchase.
J. PRORATIONS: Taxes, rents, insurance premiums and interest shall be prorated as of the date of delivery of deed unless otherwise
specified. If the amount of taxes for the current year cannot be ascertained, rates, millages, and assessed valuations for the previous year,
with known changes, shall be used, due allowance being made for homestead or other exemptions if allowed. Tax proration based on an
estimate may be readjusted subsequently where so agreed in the closing statement.
K. Buyer shall establish escrow accounts as required by Mortgagee.
L. REFUSAL OF SPOUSE TO SIGN: Failure or refusal of the wife or husband of anyone of the sellers or of the husband of anyone of
the buyers who is a married woman, to execute the deed or mortgage required hereunder shall be deemed default on the part of the seller
or buyer.
M. RISK OF LOSS: If the improveme nts are damaged by fire or casualty before delivery of the deed and Cl'.n be restored to substantially
the same conditio!l as now within a period of 60 days thereafter, seller shall so restore the improvements and the closing date and date of
delivery of possession hereinbefore provided shall be extended accordingly. If seller fails to do so, the buyer shall have the option of (1)
taking the property as is, together with insurance proceeds, if any, or (2) cancelling the contract, and all deposits are to be forthwith
returned to the buyer and all parties shall be released of any and all obligation and liability.
N. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions inserted in this form shall control all
printed provisions in conflict therewith.
0, OTHER AGREEMENTS: No agreements or representations, unless incorporated in this contract shall be binding upon any of the
parties.
p, APPLICATION OF DEPOSIT ON DEFAULT: In the event buyer fails to perform and the deposit aforesaid is retained the amount of
such deposit shall be divided eq ually between the Realtor and the seller; provided, however, that the amount to be retained or received by
the Realtor shall not exceed the full amount of the commission and any excess shall be paid to the seller. If the transaction shall not be
closed because of failure of the seller to perform, then seller shall pay said commission in full to the Realtor on demand.
Q. PERSONS BOUND: The covenants herein contained shall bind, and the benefits "nd advantages shall inure to, the respective heirs,
executors, administrators and successors of the parties hereto, Whenever used the singular number shall include the plural, the plural the
singular, and the use of any gender shall include all genders. This contract shall not be assigned by either seller or buyer without the
written consent of the other.
WITNESSES, (TwR~. dl
Y~~', -
....,J
'Executed hy buyer on
Buyer
(SEAL)
(SEAL)
(SEAL)
(SEAL)
COMMISSION TO REALTOR: Seller acknowledges the employment of the Realtor
and agrees to pay the Realtor a commission in accordance wi th the commission agreement.
WITNESSES (~~)
9~fftt;j.. '~
Executed by seller on
Cit~ ~ord, ~
~ ?nw/J~
s-/&-j?6
(SEAL)
(SEAL)
(SEAL)
(SEAL)
, ,~ " Lee P. Moore, Mayorseller
E"~'t mon.y d.p"'it "~i"~ ~n : a.y of ft-7 ,19 t<:: , to b. h.1d in ..crow ,"bJ" 0 thi
to clearance. Firm name: K I fj <: ~r/ By: "'.' .
, Signature of Realtor, Attorney, or Ag