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l+ahihit "A"
<br />PARTIES: R.K. Associates VIII Inc Cam.
<br />of M 171 Collins Mrenue, Suite 225, Sunny Isles Beach, FL (phone)
<br />find C o S`pnny Isles Beach (-jmn,
<br />of Co lens Avenue, Sunny Isles Beach, FL (Phone)
<br />hereby agree that Seller shall sell and Buyer shag buy the following described Real Property and Personal Property (cdlectively'EWMIW) upon the following terms and conditions. which
<br />Include Standards for Real Estate Trshsactions (1Suw9uU*) on the reverse side hereof or attached hereto and riders and addenda to this Contract for Sale and Purchase (�ptlOt3 l•
<br />I. DESCRIPTION:
<br />(a) Legal description of the Real Property located In Dade County, Florida:
<br />SEE EXHIBIT "A" ATTACHED
<br />'(b) Street address, city, zip, ofit* Property 1,. 393-401 Sunny Isles Beach Blvd
<br />(c) Personal Property: N/A
<br />If. PURCHASE PRICE: ......................................................................................................................................................................................................... $ 1,100,000.0 O
<br />PAYMENT.
<br />(a) Deposit held in escrow by $ 5 0, 0 0 0 Barry S h e v l i n E S q. in the amount of ...... $ S n_ n n n_ n 0
<br />(b) Additional escrow deposit to be made within _ days after Effective Date (as defined in Paragraph III) in the amount of ................................ $
<br />(c) Subject to AND assumption of existing mortgage in good standing in favor of
<br />having an approximate present principal balance of ................................. $
<br />(d) Purchase money mortgage and note to Seller (see addendum) in the amount of.................................................................................................... $
<br />(a) Other: $
<br />(f) Balance to close by U.S. cash, LOCALLY DRAWN certified or cashier's check or third -party loan, subject to adjustments or proration ............... $ _ 1 -10 5 0 , 0 0 0 .4 0
<br />III. TIME FOR ACCEPTANCE OF it Eli E F€ n
<br />VE DATE; FACSIMILE: If this offer is not executed by and delivered to all parties OR FACT OF EXECUTION comma icated in writing
<br />between the parties on or before 1 / 3 / the deposit(s) will, at Buyers option, be returned and this offer withdrawn. The date of Contract win
<br />be the date when the last one of the Buyer and Seller has signed this offer. A facsimile copy of this Contract and any signatures thereon shag be considered for all purposes as originals.
<br />IV.Xor
<br />CING:
<br />he Purchase ice or arty rt of<tma
<br />e fi by a -parry loan, this Contract is 'tan on Buyer obtaining a eommirtment within _ alter Effective
<br />or (CHEC NLY ONE): fixeadju e; or ❑ a ed or adjustable rate hn the pri 'pal amount of S al an ' ' interest rate not to
<br />discount and or' lno exceed _ of principal amou rid for a term years r will make lion days after Effective
<br />us easonable diligence n commitment an thereafter, to isty terms and itions of a commitment Buyer shall pay all ban
<br />se f uyer fails to obtain a or fails to waive Buyers its uncle rs subparagraph withh he ti tor obtaining a t flan diligent effort, fails to meet
<br />rms conditions of the commien either party thereafter, writt notice to the other, may is Contract and Buyer refunded the deposit(s); or
<br />e hst mortgage described inph 11(c), above, has (CHEC Y ONE): O a variable intere ; or 0 a fixed interest re % per annum. At time of title
<br />, some interest rates areincrease: 0 increased, t t all not exr . Seger shad, after Effective Date, furnish a
<br />aril Irom mortgagee sta 'balance, method n ' terest rate and s of mo ge. It Buyer to a mortgage which requires
<br />val of Buyer mortga re than Buyer shall pfly obtai necessary a lion arW tlY and reWrn lt to gages. Any rthortgagee
<br />(s) not to ex $shag be pal Buyer. It Buyer t acce by mortgagee ements for ass not in accordance with
<br />rms of this Con t or mort ges a ch in exce f the stated amount, Seller uyer may rescind by written notice to they party unless either
<br />to pay the increase in interest rate or excess mortgage chges.
<br />V. TITLE EVIDENCE: At least __3_Qiays before closing date, but no earlier than --4-5days after Seller receives written notification that Buyer has obtained the loan commitment or
<br />has been approved for the ban assumption as provided in Paragraphs IV(a) or (b), above, or, if applicable, waived the financing requirements. (CHECK ONLY ONE): O Seller shag, at Sager's
<br />expense, deliver to Buyer or Buyers attorney; or LI Buyer shall at Buyer's expense obtain (CHECK ONLY ONE): 0 abstract of title; or O title insurance oommftment (with legible copies of
<br />instruments listed as exceptions attached thereto) and, after closing, an owner's policy of title insurance.
<br />VI. CLOSING DATE: This transaction shall be closed and the deed and other closing papers delivered on 2 / 2 3 / 9 9 unless modified by other provisions of this Contract.
<br />VII. RESTRICTIONS; EASEMENTS; LIMITATIONS: Buyer shall take title subject to: comprehensive land use plans, zoning, restrictions, prohibitions and other requirements imposed by
<br />governmental authority; restrictions and matters appearing on the plat or otherwise common to the subdivision; public utility easements of record (easements are to be located contiguous to
<br />Real Property lines and not more than 10 feet in width as to the rear or front lines and 7 1/2 feet in width as to the side lines, unless otherwise stated herein); taxes for year of closing and
<br />subsequent years; assumed mortgages and purchase money mortgages, if any (if additional items, see addendum); provided, that there exists at closing no violation of the foregoing
<br />and none prevent use of the Property for ('oyPrnTnPnt- ('Pnt-Pr and Pnl i rP nPpartment- Pani 1 i t3Z purpose(s).
<br />Vlll. OCCUPANCY: Seller warrants that there are no parties in occupancy other than Seller, but If Property is Intended to be rented or occupied beyond dosing, the fact and terms thereof
<br />and the tenant(s) or occupants shall be disclosed pursuant to Standard F. Seller shall deliver occupancy of Property to Buyer at time of dosing unless otherwise stated herein. If occupancy
<br />is to be delivered before closing, Buyer assumes all risks of loss to Property from date of occupancy, shall be responsible and liable for maintenance from that date, and shag be deemed to
<br />have accepted Property in its existing condition as of time of taking occupancy unless otherwise stated herein.
<br />IX. TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Typewritten or handwritten provisions, riders and addenda shall control all printed provisions of this Contract in conflict with them.
<br />X. RIDERS: (CHECK those riders which are applicable AND are attached to this Contract):
<br />(a) O COASTAL CONSTRUCTION CONTROL LINE (d) O VA/FHA (g) 0 HOMEOWNERS' ASSOCIATION DISCLOSURE
<br />(b) L l CONDOMINIUM (a) 0 INSULATION (h) O RESIDENTIAL LEAD-8 ED HAZARD DIs�LQHE
<br />(c) 0 FOREIGN INVESTMENT IN REAL PROPERTY TAX ACT M WAS IS" (1) 8 SEE ADDENDUM ATTACHED
<br />SURE
<br />XI. ASSIGNABILIV, (CHECK ONLY ONE): Buyer 0 may assign and thereby be released from any further liability under this Contract; 0 may assign but not be released from liability
<br />under this Contract; orA] may not assign this Contract.
<br />XIL DISCLOSURES:
<br />(a) Radon is a naturally occurring radioactive gas that when accumulated in a building in sufficient quantities may present health risks to persons who are exposed to it overtime.
<br />Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding Radon or Radon leafing may be obtained from
<br />your County Public Health unit.
<br />(b) Buyer may have determined the energy efficiency rating of the residential building, ff any is located on the Real Property.
<br />(c) If the Real Property includes pre-1978 residential housing then Paragraph X (h) is mandatory.
<br />XIII. MAXIMUM REPAIR COSTS: Seller shag not be responsible for payments in excess of:
<br />(a) $ N/A for treatment and repair under Standard D (if blank, then 2% of the Purchase Price).
<br />(b) $ AT / T for repair and replacement under Standard N (if blank, then 3% of the Purchase Price).
<br />XIV. SPECIAL CLAUSES; ADDENDA: If additional terms are to be provided, attach addendum and CHECK HERE 0.
<br />IS IS INTENDEDTO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEKTHE ADVICE OF AN ATTORNEY PRIORTO SIGNING.
<br />THIS FORM HAS BEEN APPROVED BY THE FLORIDA ASSOCIATION OF REALTORS AND THE FLORIDA BAR.
<br />Approve s not constitute an that any of the terms and cwhdirions In this Contract should be accepted by the parties in a psrdoufar hansacdon. Temhs and candi0ons should
<br />be negotiated based ypan the respecthre Interests, o4ectives and bargaInIng posMbna of 80 irhAsnrattad pwson&
<br />, ZwNJW IFCOPYRI 1 BY THE F ORtDA BAR AND THE FLORIDA ASSOCIATION OF REALTORS
<br />- viol �- - A,9 - 9
<br />-r) C I T F /P U N I/$�LE B(Date) (Seiler) R.K. AS SOC IAT ' S V I I I� / I �)
<br />Social Security or Tax I.D. It T �X � Social Security or Tax I.D. If 1,% P1 G e* 91 !J i
<br />(Buyer) (Date) (Seller) (Date)
<br />Social Security or Tax I.D. #r
<br />Social Security or Tax I.D. 0
<br />Deposit under Paragraph 11(a) received; IF OTHER THAN CASH, THEN SUBJECT TO CLEARANCE. N /A
<br />BROKER'S FEE: The brokers named below, Including listing and cooperating brokers, are the only brokers entitled to compensation in connection with dhis Contract:
<br />Name: NO BROKER
<br />Usting Broker Cooperating Brokers, If any
<br />FAR/BARA Revised 12MS RIDERS CAN BE OBTAINED FROM FLORIDA LAWYERS SUPPORT SERVICES, INC. (FLSSI) (904) 656-75M
<br />(Escrow Agent)
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