Preview
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
Commercial Contract
CQ FloridaRealtors
1 1. PARTIES AND PROPERTY: n a d a Associates LLC (’’Buyer”)
2 agrees to buy and Daniel Peckman & Guisela Peckman Guisella Feetanan ("Seller")
3 agrees to sell the property at:
4 Street Address: 908 n e isth Ave 04/19/21
5:56 PM EDT 5:58 PM EDT
dotloop verified dotloop verified
5 Ft Lauderdale, FL, 33304
6 Legal Description: p r o g r ess o 2-18 p lot is b l k 227
7
8 and the following Personal Property: Inventory and IP list shall be provided ten days from effective date
9 All licenses shall transfer
10 (all collectively referred to as the “Property”) on the terms and conditions set forth below.
11 2. PURCHASE PRICE: $1,450,000.00
12 (a) Deposit held in escrow by:Ted Mozes p l l c $
13 (“Escrow Agent”) (checks are subject to actual and final collection)
14 — —) Escrow Agent’s address: 16 Gladwine Ct Spring Valley NY Phone: 845-362-6951
15
c/A
' J (b) Additional deposit to be made to Escrow Agent
16 rj® gwitliiri 3 days (3 days, if left blank) after completion of Due Diligence Period or
17 51
^»T0within 3 days after Effective Date $ 45,000.00
doa
18 doito8opveEr!fie(c) Additional deposit to be made to Escrow Agent
19 □within days (3 days, if left blank) after completion of Due Diligence Period or
20 0within 22 days after Effective Date $ 100,000.00
21 (d) Total financing (see Paragraph 5) $
22 (e) Other $
23 (f) All deposits will be credited to the purchase price at closing.
24 Balance to close, subject to adjustments and prorations, to be paid
25 via wire transfer. $ 1,305,000.00
26 For the purposes of this paragraph, “completion” means the end of the Due Diligpnce.Ej’eriod or upon delivery of
27 Buyer’s written notice of acceptability.
28 3. TIME FOR ACCEPTANCE; EFFECTIVE DATE; COMPUTATION OFTIM'E^WWsbsdhis-'offer is signed by Seller
29 and Buyer and an executed copy delivered to all parties on or before 04/20/2021 4/17/20-ai, this offer
30 will be withdrawn and the Buyer’s deposit, if any, will be returned. The time for acceptance of any counter offer will be
31 3 days from the date the counter offer is delivered. The “Effective Date” of this Contract is the date on which the
32 last one of the Seller and Buyer has signed or initialed and delivered this offer or the final counter offer or
33 . Calendar days will be used when computing time periods, except time periods of 5
34 days or less. Time periods of 5 days or less will be computed without including Saturday, Sunday, or national legal
35 holidays. Anytime period ending on a Saturday, Sunday, or national legal holiday will extend until 5:00 p.m. of the next
36 business day. Time is of the essence in this Contract.
37 4. CLOSING DATE AND LOCATION:
38 (a) Closing Date: This transaction will be closed on 6/1/2021(Closing Date), unless
39 specifically extended by other provisions of this Contract. The Closing Date will prevail over all other time periods
40 including, but not limited to, Financing and Due Diligence periods. In the event insurance underwriting is suspended
Buyer (LILI) (. ) and Seller Knowledge receipt of a copy of this page, which is Page 1 of 8 Pages.
04/19/21 04/19/21
5:56 PM EDT 5:58 PM EDT
CC-5 Rev. 9/17 dotloop verified dotloop verified
©2017 Florida Realtors®
This software is licensed to [Kathleen Haines Douglas Elliman] www.transactiondesk.com.
InsfonetFORMS
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
41 on Closing Date and Buyer is unable to obtain property insurance, Buyer may postpone closing up to 5 days after
42 the insurance underwriting suspension is lifted.
43 (b) Location: Closing will take place in Broward County, Florida. (If left blank, closing will take place in the
44 county where the property is located.) Closing may be conducted by mail or electronic means.
45 5. THIRD PARTY FINANCING:
46 BUYER’S OBLIGATION: On or before days (5 days if left blank) after Effective Date, Buyer will apply for third
47 party financing in an amount not to exceed% of the purchase price or $, with a fixed
48 interest rate not to exceed% per year with an initial variable interest rate not to exceed%, with points or
49 commitmentor loan fees not to exceed% of the principal amount, for a term of years, and amortized
50 over years, with additional terms as follows:
51
52 Buyer will timely provide any and all credit, employment, financial and other information reasonably required by any
53 lender. Buyer will use good faith and reasonable diligence to (i) obtain Loan Approval within days (45 days if left
54 blank) from Effective Date (Loan Approval Date), (ii) satisfy terms and conditions of the Loan Approval, and (iii) close
55 the loan. Buyer will keep Seller and Broker fully informed about loan application status and authorizes the mortgage
56 broker and lender to disclose all such information to Seller and Broker. Buyer will notify Seller immediately upon
57 obtaining financing or being rejected by a lender. CANCELLATION: If Buyer, after using good faith and reasonable
58 diligence, fails to obtain Loan Approval by Loan Approval Date, Buyer may within days (3 days if left blank)
59 deliver written notice to Seller stating Buyer either waives this financing contingency or cancels this Contract.
60 If Buyer does neither, then Seller may cancel this Contract by delivering written notice to Buyer at any time thereafter.
61 Unless this financing contingency has been waived, this Contract shall remain subject to the satisfaction, by closing, of
62 those conditions of Loan Approval related to the Property. DEPOSIT(S) (for purposes of Paragraph 5 only): If Buyer
63 has used good faith and reasonable diligence but does not obtain Loan Approval by Loan Approval Date and
64 thereafter either party elects to cancel this Contract as set forth above or the lender fails or refuses to close on or
65 before the Closing Date without fault on Buyer’s part, the Deposit(s) shall be returned to Buyer, whereupon both
66 parties will be released from all further obligations under this Contract, except for obligations stated herein as surviving
67 the termination of this Contract. If neither party elects to terminate this Contract as set forth above or Buyer fails to use
68 good faith or reasonable diligence as set forth above, Seller will be entitled to retain the Deposit(s) if the transaction
69 does not close. For purposes of this Contract, "Loan Approval" means a statement by the lender setting forth the terms
70 and conditions upon which the lender is willing to make a particular mortgage loan to a particular buyer. Neither a pre-
71 approval letter not a prequalification letter shall be deemed a Loan Approval for purposes of this Contract.
72 6. TITLE: Seller has the legal capacity to and will convey marketable title to the Property by Sstatutory warranty
73 deed special warranty deed other, free of liens, easements and
74 encumbrances of record or known to Seller, but subject to property taxes for the year of closing; covenants,
75 restrictions and public utility easements of record; existing zoning and governmental regulations; and (list any other
76 matters to which title will be subject)
77 _________________________________________________ ______________________________________________________________________________________________________________________________________ •>
78 provided there exists at closing no violation of the foregoing and none of them prevents Buyer’s intended use of the
79 Property as bed and breakfast rentals, food service.
80 (a) Evidence of Title: The party who pays the premium for the title insurance policy will select the closing agent
81 and pay for the title search and closing services. Seller will, at (check one) Seller’s B Buyer’s expense and
82 within days after Effective Date or at least 10 days before Closing Date deliver to Buyer (check one)
83 B (i) a title insurance commitment by a Florida licensed title insurer setting forth those matters to be discharged by
84 Seller at or before Closing and, upon Buyer recording the deed, an owner’s policy in the amount of the purchase
85 price for fee simple title subject only to exceptions stated above. If Buyer is paying for the evidence of title and
86 Seller has an owner’s policy, Seller will deliver a copy to Buyer within 15 days after Effective Date. □ (ii.) an
87 abstract of title, prepared or brought current by an existing abstract firm or certified as correct by an existing firm.
88 However, if such an abstract is not available to Seller, then a prior owner’s title policy acceptable to the proposed
89 insurer as a base for reissuance of coverage may be used. The prior policy will include copies of all policy
90 exceptions and an update in a format acceptable to Buyer from the policy effective date and certified to Buyer or
Buyer (I?7 J) ( ) and Seller receipt of a copy of this page, which is Page 2 of 8 Pages.
04/19/21 04/19/21
5:56 PM EDT 5:58 PM EOT
CC-5 Rev. 9/17 dotloop verified dotloop verified
©2017 Florida Realtors®
This software is licensed to [Kathleen Haines - Douglas Elliman] www.transactiondesk.com.
InstnnefccwMS
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
91 Buyer s closing agent together with copies of all documents recited in the prior policy and in the update. If such
92 an abstract or prior policy is not available to Seller then (I.) above will be the evidence of title.
93 (b) Title Examination: Buyer will, within 15 days from receipt of the evidence of title deliver written notice to Seller
94 of title defects. Title will be deemed acceptable to Buyer if (1) Buyer fails to deliver proper notice of defects or (2)
95 Buyer delivers proper written notice and Seller cures the defects within io days from receipt of the notice
96 (“Curative Period”). Seller shall use good faith efforts to cure the defects. If the defects are cured within the
97 Curative Period, closing will occur on the latter of 10 days after receipt by Buyer of notice of such curing or the
98 scheduled Closing Date. Seller may elect not to cure defects if Seller reasonably believes any defect cannot be
99 cured within the Curative Period. If the defects are not cured within the Curative Period, Buyer will have 10 days
100 from receipt of notice of Seller’s inability to cure the defects to elect whether to terminate this Contract or accept
101 title subject to existing defects and close the transaction without reduction in purchase price.
102 (c) Survey: (check applicable provisions below)
103 (i.) E Seller will, within 5 days from Effective Date, deliver to Buyer copies of prior surveys,
104 plans, specifications, and engineering documents, if any, and the following documents relevant to this
105 transaction:
106
107 prepared for Seller or in Seller’s possession, which show all currently existing structures. In the event this
108 transaction does not close, all documents provided by Seller will be returned to Seller within 10 days from the
109 date this Contract is terminated.
110 B Buyer will, at Seller’s B Buyer’s expense and within the time period allowed to deliver and examine
111 title evidence, obtain a current certified survey of the Property from a registered surveyor. If the survey reveals
112 encroachments on the Property or that the improvements encroach on the lands of another, Buyer will
113 accept the Property with existing encroachments B such encroachments will constitute a title defect to be
114 cured within the Curative Period.
115 (d) Ingress and Egress: Seller warrants that the Property presently has ingress and egress.
116 7. PROPERTY CONDITION: Seller will deliver the Property to Buyer at the time agreed in its present “as is” condition,
117 ordinary wear and tear excepted, and will maintain the landscaping and grounds in a comparable condition. Seller
118 makes no warranties other than marketability of title. In the event that the condition of the Property has materially
119 changed since the expiration of the Due Diligence Period, Buyer may elect to terminate the Contract and receive a
120 refund of any and all deposits paid, plus interest, if applicable, or require Seller to return the Property to the required
121 condition existing as of the end of Due Diligence period, the cost of which is not to exceed $(1.5% of
122 the purchase price, if left blank). By accepting the Property “as is”, Buyer waives all claims against Seller for any
123 defects in the Property. (Check (a) or (b))
124 (a) As Is: Buyer has inspected the Property or waives any right to inspect and accepts the Property in its “as is”
125 condition.
126 H (b) Due Diligence Period: Buyer will, at Buyer’s expense and within 20 days from Effective Date (“Due
127 Diligence Period”), determine whether the Property is suitable, in Buyer’s sole and absolute discretion. During the
128 term of this Contract, Buyer may conduct any tests, analyses, surveys and investigations (“Inspections”) which
129 Buyer deems necessaryto determine to Buyer’s satisfaction the Property’s engineering, architectural,
130 environmental properties; zoning and zoning restrictions; flood zone designation and restrictions; subdivision
131 regulations; soil and grade; availability of access to public roads, water, and other utilities; consistency with local,
132 state and regional growth management and comprehensive land use plans; availability of permits, government
133 approvals and licenses; compliance with American with Disabilities Act; absence of asbestos, soil and ground
134 water contamination; and other inspections that Buyer deems appropriate. Buyer will deliver written notice to
135 Seller prior to the expiration of the Due Diligence Period of Buyer’s determination of whether or not the Property
136 is acceptable. Buyer’s failure to comply with this notice requirement will constitute acceptance of the Property in
137 its present “as is” condition. Seller grants to Buyer, its agents, contractors and assigns, the right to enter the
138 Property at any time during the term of this Contract for the purpose of conducting Inspections, upon reasonable
139 notice, at a mutually agreed upon time; provided, however, that Buyer, its agents, contractors and assigns enter
140 the Property and conduct Inspections at their own risk. Buyer will indemnify and hold Seller harmless from
141 losses, damages, costs, claims and expenses of any nature, including attorneys’ fees at all levels, and from
142 liability to any person, arising from the conduct of any and all inspections or any work authorized by Buyer. Buyer
143 will not engage in any activity that could result in a mechanic’s lien being filed against the Property without
144 Seller’s prior written consent. In the event this transaction does not close, (1) Buyer will repair all damages to the
Buyer (I ) and Seller ^knowledge receipt of a copy of this page, which is Page 3 of 8 Pages.
-----------
04/19/21 04/19/21
_____________
5:56 PM EDT 5:58 PM EDT
dotloop verified dotloop verified
CC-5 Rev. 9/17 ©2017 Florida Realtors®
This software is licensed to [Kathleen Haines - Douglas Elliman] www.transactiondesk.com.
InstnnefFORMs
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
145 Property resulting from the Inspections and return the Property to the condition it was in prior to conduct of the
146 Inspections, and (2) Buyer will, at Buyer’s expense release to Seller all reports and other work generated as a
147 result of the Inspections. Should Buyer deliver timely notice that the Property is not acceptable, Seller agrees that
148 Buyer’s deposit will be immediately returned to Buyer and the Contract terminated.
149 (c) Walk-through Inspection: Buyer may, on the day prior to closing or any other time mutually agreeable to the
150 parties, conduct a final “walk-through” inspection of the Property to determine compliance with this paragraph and
151 to ensure that all Property is on the premises.
152 8. OPERATION OF PROPERTY DURING CONTRACT PERIOD: Seller will continue to operate the Property and any
153 business conducted on the Property in the manner operated prior to Contract and will take no action that would
154 adversely impact the Property after closing, as to tenants, lenders or business, if any. Any changes, such as renting
155 vacant space, that materially affect the Property or Buyer’s intended use of the Property will be permitted E only with
156 Buyer’s consent without Buyer’s consent.
157 9. CLOSING PROCEDURE: Unless otherwise agreed or stated herein, closing procedure shall be in accordance with
158 the norms where the Property is located.
159 (a) Possession and Occupancy: Seller will deliver possession and occupancy of the Property to Buyer at
160 closing. Seller will provide keys, remote controls, and any security/access codes necessary to operate all locks,
161 mailboxes, and security systems.
162 (b) Costs: Buyer will pay Buyer’s attorneys’ fees, taxes and recording fees on notes, mortgages and financing
163 statements and recording fees for the deed. Seller will pay Seller’s attorneys’ fees, taxes on the deed and
164 recording fees for documents needed to cure title defects. If Seller is obligated to discharge any encumbrance at or
165 prior to closing and fails to do so, Buyer may use purchase proceeds to satisfy the encumbrances.
166 (c) Documents: Seller will provide the deed; bill of sale; mechanic’s lien affidavit; originals of those assignable
167 service and maintenance contracts that will be assumed by Buyer after the Closing Date and letters to each
168 service contractor from Seller advising each of them of the sale of the Property and, if applicable, the transfer of its
169 contract, and any assignable warranties or guarantees received or held by Seller from any manufacturer,
170 contractor, subcontractor, or material supplier in connection with the Property; current copies of the condominium
171 documents, if applicable; assignments of leases, updated rent roll; tenant and lender estoppels letters (if
172 applicable); tenant subordination, non-disturbance and attornment agreements (SNDAs) required by the Buyer or
173 Buyer’s lender; assignments of permits and licenses; corrective instruments; and letters notifying tenants of the
174 change in ownership/rental agent. If any tenant refuses to execute an estoppels letter, Seller, if requested by the
175 Buyer in writing, will certify that information regarding the tenant’s lease is correct. If Seller is an entity, Seller will
176 deliver a resolution of its governing authority authorizing the sale and delivery of the deed and certification by the
177 appropriate party certifying the resolution and setting forth facts showing the conveyance conforms to the
178 requirements of local law. Seller will transfer security deposits to Buyer. Buyer will provide the closing statement,
179 mortgages and notes, security agreements, and financing statements.
180 (d) Taxes and Prorations: Real estate taxes, personal property taxes on any tangible personal property, bond
181 payments assumed by Buyer, interest, rents (based on actual collected rents), association dues, insurance
182 premiums acceptable to Buyer, and operating expenses will be prorated through the day before closing. If the
183 amount of taxes for the current year cannot be ascertained, rates for the previous year will be used with due
184 allowance being made for improvements and exemptions. Any tax proration based on an estimate will, at request
185 of either party, be readjusted upon receipt of current year’s tax bill; this provision will survive closing.
186 (e) Special Assessment Liens: Certified, confirmed, and ratified special assessment liens as of the Closing Date
187 will be paid by Seller. If a certified, confirmed, and ratified special assessment is payable in installments, Seller will
188 pay all installments due and payable on or before the Closing Date, with any installment for any period extending
189 beyond the Closing Date prorated, and Buyer will assume all installments that become due and payable after the
190 Closing Date. Buyer will be responsible for all assessments of any kind which become due and owing after Closing
191 Date, unless an improvement is substantially completed as of Closing Date. If an improvement is substantially
192 completed as of the Closing Date but has not resulted in a lien before closing, Seller will pay the amount of the last
193 estimate of the assessment. This subsection applies to special assessment liens imposed by a public body and
194 does not apply to condominium association special assessments.
195 (f) Foreign Investment in Real Property Tax Act (FIRPTA): If Seller is a “foreign person” as defined by FIRPTA,
196 Seller and Buyer agree to comply with Section 1445 of the Internal Revenue Code. Seller and Buyer will
197 complete, execute, and deliver as directed any instrument, affidavit, or statement reasonably necessary to comply
Buyer (L __]..) (. ) and Seller knowledge receipt of a copy of this page, which is Page 4 of 8 Pages.
04/19/21 04/19/21
5:56 PM EDT 5;58 PM EDT
CC-5 Rev. 9/17 dotloop verified dotloop verified ©2017 Florida Realtors®
This software is licensed to [Kathleen Haines Douglas Elliman] www.transactiondesk.com.
InstonetpoRMs
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
198 with the FIRPTA requirements, including delivery of their respective federal taxpayer identification numbers or
199 Social Security Numbers to the closing agent. If Buyer does not pay sufficient cash at closing to meet the
200 withholding requirement, Seller will deliver to Buyer at closing the additional cash necessary to satisfy the
201 requirement.
202 10. ESCROW AGENT: Seller and Buyer authorize Escrow Agent or Closing Agent (collectively “Agent”) to receive,
203 deposit, and hold funds and other property in escrow and, subject to collection, disburse them in accordance with the
204 terms of this Contract. The parties agree that Agent will not be liable to any person for misdelivery of escrowed items to
205 Seller or Buyer, unless the misdelivery is due to Agent’s willful breach of this Contract or gross negligence. If Agent
206 has doubt as to Agent’s duties or obligations under this Contract, Agent may, at Agent’s option, (a) hold the escrowed
207 items until the parties mutually agree to its disbursement or until a court of competent jurisdiction or arbitrator
208 determines the rights of the parties or (b) deposit the escrowed items with the clerk of the court having jurisdiction over
209 the matter and file an action in interpleader. Upon notifying the parties of such action, Agent will be released from all
210 liability except for the duty to account for items previously delivered out of escrow. If Agent is a licensed real estate
211 broker, Agent will comply with Chapter 475, Florida Statutes. In any suit in which Agent interpleads the escrowed items
212 or is made a party because of acting as Agent hereunder, Agent will recover reasonable attorney’s fees and costs
213 incurred, with these amounts to be paid from and out of the escrowed items and charged and awarded as court costs
214 in favor of the prevailing party.
215 11. CURE PERIOD: Prior to any claim for default being made, a party will have an opportunity to cure any alleged
216 default. If a party fails to comply with any provision of this Contract, the other party will deliver written notice to the non-
217 complying party specifying the non-compliance. The non-complying party will have 5 days (5 days if left blank) after
218 delivery of such notice to cure the non-compliance. Notice and cure shall not apply to failure to close.
219 12. FORCE MAJEURE: Buyer or Seller shall not be required to perform any obligation under this Contract or be liable
220 to each other for damages so long as performance or non-performance of the obligation, or the availability of services,
221 insurance, or required approvals essential to Closing, is disrupted, delayed, caused or prevented by Force Majeure.
222 "Force Majeure" means: hurricanes, floods, extreme weather, earthquakes, fire, or other acts of God, unusual
223 transportation delays, or wars, insurrections, or acts of terrorism, which, by exercise of reasonable diligent effort, the
224 non-performing party is unable in whole or in part to prevent or overcome. All time periods, including Closing Date, will
225 be extended a reasonable time up to 7 days after the Force Majeure no longer prevents performance under this
226 Contract, provided, however, if such Force Majeure continues to prevent performance under this Contract more than
227 30 days beyond Closing Date, then either party may terminate this Contract by delivering written notice to the other
228 and the Deposit shall be refunded to Buyer, thereby releasing Buyer and Seller from all further obligations under this Contract.
229 13. RETURN OF DEPOSIT: Unless otherwise specified in the Contract, in the event any condition of this Contract is
230 not met and Buyer has timely given any required notice regarding the condition having not been met, Buyer’s deposit
231 will be returned in accordance with applicable Florida Laws and regulations.
232 14. DEFAULT:
233 (a) In the event the sale is not closed due to any default or failure on the part of Seller other than failure to make
234 the title marketable after diligent effort, Buyer may elect to receive return of Buyer’s deposit without thereby
235 waiving any action for damages resulting from Seller’s breach and may seek to recover such damages or seek
236 specific performance. If Buyer elects a deposit refund, Seller may be liable to Broker for the full amount of the
237 brokerage fee.
238 (b) In the event the sale is not closed due to any default or failure on the part of Buyer, Seller may either (1)
239 retain all deposit(s) paid or agreed to be paid by Buyer as agreed upon liquidated damages, consideration for the
240 execution of this Contract, and in full settlement of any claims, upon which this Contract will terminate or (2) seek
241 specific performance. If Buyer fails to timely place a deposit as required by this Contract, Seller may either (1)
242 terminate the Contract and seek the remedy outlined in this subparagraph or (2) proceed with the Contract without
243 waiving any remedy for Buyer’s default.
244 15. ATTORNEY’S FEES AND COSTS: In any claim or controversy arising out of or relating to this Contract, the
245 prevailing party, which for purposes of this provision will include Buyer, Seller and Broker, will be awarded reasonable
246 attorneys’ fees, costs, and expenses.
247 16. NOTICES: All notices will be in writing and may be delivered by mail, overnight courier, personal delivery, or
248 electronic means. Parties agree to send all notices to addresses specified on the signature page(s). Any notice,
249 document, or item given by or delivered to an attorney or real estate licensee (including a transaction broker)
250 representing a party will be as effective as if given by or delivered to that party.
Buyer (U7 J) (. ) and Seller receipt of a copy of this page, which is Page 5 of 8 Pages.
04/19/21
5:56 PM EDT 5:58 PM EDT
CC-5 Rev. 9/17 dotloop verified dotloop verified ©2017 Florida Realtors®
This software is licensed to [Kathleen Haines Douglas Elliman] www.transactiondesk.com.
InstonetFOPMS
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
251 17. DISCLOSURES:
252 (a) Commercial Real Estate Sales Commission Lien Act: The Florida Commercial Real Estate Sales
253 Commission Lien Act provides that a broker has a lien upon the owner’s net proceeds from the sale of
254 commercial real estate for any commission earned by the broker under a brokerage agreement. The lien upon the
255 owner’s net proceeds is a lien upon personal property which attaches to the owner’s net proceeds and does not
256 attach to any interest in real property. This lien right cannot be waived before the commission is earned.
257 (b) Special Assessment Liens Imposed by Public Body: The Property may be subject to unpaid special
258 assessment lien(s) imposed by a public body. (A public body includes a Community Development District.) Such
259 liens, if any, shall be paid as set forth in Paragraph 9(e).
260 (c) Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in
261 sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that
262 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon
263 and radon testing may be obtained from your county public health unit.
264 (d) Energy-Efficiency Rating Information: Buyer acknowledges receipt of the information brochure required by
265 Section 553.996, Florida Statutes.
266 18. RISK OF LOSS:
267 (a) If, after the Effective Date and before closing, the Property is damaged by fire or other casualty, Seller will
268 bear the risk of loss and Buyer may cancel this Contract without liability and the deposit(s) will be returned to
269 Buyer. Alternatively, Buyer will have the option of purchasing the Property at the agreed upon purchase price and
270 Seller will credit the deductible, if any and transfer to Buyer at closing any insurance proceeds, or Seller’s claim
271 to any insurance proceeds payable for the damage. Seller will cooperate with and assist Buyer in collecting any
272 such proceeds. Seller shall not settle any insurance claim for damage caused by casualty without the consent of
273 the Buyer.
274 (b) If, after the Effective Date and before closing, any part of the Property is taken in condemnation or under the
275 right of eminent domain, or proceedings for such taking will be pending or threatened, Buyer may cancel this
276 Contract without liability and the deposit(s) will be returned to Buyer. Alternatively, Buyer will have the option of
277 purchasing what is left of the Property at the agreed upon purchase price and Seller will transfer to the Buyer at
278 closing the proceeds of any award, or Seller’s claim to any award payable for the taking. Seller will cooperate
279 with and assist Buyer in collecting any such award.
280 19. ASSIGNABILITY; PERSONS BOUND: This Contract may be assigned to a related entity, and otherwise E is not
281 assignable is assignable. If this Contract may be assigned, Buyer shall deliver a copy of the assignment agreement
282 to the Seller at least 5 days prior to Closing. The terms “Buyer,” “Seller” and “Broker” may be singular or plural. This
283 Contract is binding upon Buyer, Seller and their heirs, personal representatives, successors and assigns (if
284 assignment is permitted).
285 20. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and Seller.
286 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party to be bound.
287 Signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated
288 electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or
289 typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract
290 is or becomes invalid or unenforceable, all remaining provisions will continue to be fully effective. This Contract will be
291 construed under Florida law and will not be recorded in any public records.
292 21. BROKERS: Neither Seller nor Buyer has used the services of, or for any other reason owes compensation to, a
293 licensed real estate Broker other than:
294- (ai Seller’s Broker: Level Realty Partners Josh Deitchman
2£//'
(Company Name) (Licensee)
(Address, Telephone, Fax, E-mail)
29f0R£jvho 0 is a single agent is a transaction broker has no brokerage relationship and who will be compensated by
2&'!^n;x. Seller Buyer both parties pursuant to 0 a listing agreement other (specify)
5158PMEDT
o o p ve ri fi ed______________________________________________________________
299
300 (b) Buyer’s Broker: Douglas Elliman Kathleen Haines/Steve Mannino
(Company Name) (Licensee)
301
, Fax, E-mail)
Buyer (I ) and Seller receipt of a copy of this page, which is Page 6 of 8 Pages.
04/19/21 04/19/21
5:56 PM EDT 5:53 r m EDT
dotloop verified dotloop verified
CC-5 Rev. 9/17 ©2017 Florida Realtors®
This software is licensed to [Kathleen Haines - Douglas Elliman] www.transactiondesk.com.
InstanetFORMS
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
302 who is a single agent E is a transaction broker has no brokerage relationship and who will be compensated by
303 Seller’s Broker E Seller Buyer both parties pursuant to [x] an MLS offer of compensation other (specify)
304 Seller will compensate buyer's agent 2.5% on sale price at closing
305 (collectively referred to as “Broker”) in connection with any act relating to the Property, including but not limited to
306 inquiries, introductions, consultations, and negotiations resulting in this transaction. Seller and Buyer agree to
307 indemnify and hold Broker harmless from and against losses, damages, costs and expenses of any kind, including
308 reasonable attorneys’ fees at all levels, and from liability to any person, arising from (1) compensation claimed which is
309 inconsistent with the representation in this Paragraph, (2) enforcement action to collect a brokerage fee pursuant to
310 Paragraph 10, (3) any duty accepted by Broker at the request of Seller or Buyer, which is beyond the scope of
311 services regulated by Chapter 475, Florida Statutes, as amended, or (4) recommendations of or services provided and
312 expenses incurred by any third party whom Broker refers, recommends, or retains for or on behalf of Seller or Buyer.
fl
3
2. OPTIONAL CLAUSES: (Check if any of the following clauses are applicable and are attached as an addendum to
his Contract):
Arbitration Seller Warranty Existing Mortgage
31(^4719721 Section 1031 Exchange Coastal Construction Control Line Buyer’s Attorney Approval
3^
Property Inspection and Repair Flood Area Hazard Zone Seller’s Attorney Approval
3it op>pverS Seller Representations Seller Financing [X] Other Addendum #1
319 23. ADDITIONAL TERMS:
32 q Seller shall pay any outstanding permits, assessments, or association fees in full before
clsoing date, Seller shall be responsibe at seller sole expense to bring into compliance any
321 discovered city or county violations if any, as well as the satisfaction of all association fees
or fines at or prior to closing.
322
323
324
325
326
327
328
329
330
331
332
333
334
335
336
337
338
339
340
341
342 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE
343 ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL
344 FACTS AND REPRESENTATIONS THAT ARE IMPORTANT TO THEM AND TO CONSULT AN APPROPRIATE
345 PROFESSIONAL FOR LEGAL ADVICE (FOR EXAMPLE, INTERPRETING CONTRACTS, DETERMINING THE
346 EFFECT OF LAWS ON THE PROPERTY AND TRANSACTION, STATUS OF TITLE, FOREIGN INVESTOR
347 REPORTING REQUIREMENTS, ETC.) AND FOR TAX, PROPERTY CONDITION, ENVIRONMENTAL AND OTHER
R
Buyer( .)( ) and Seller receipt of a copy of this page, which is Page 7 of 8 Pages.
04/19/21 04/19/21
5:56 PM EOT 5:58 PM EDT
CC-5 Rev. 9/17 dotloop verified dotloop verified ©2017 Florida Realtors®
This software is licensed to [Kathleen Haines - Douglas Elliman] www.transactiondesk.com.
InstanetFORM?
FILED: ROCKLAND COUNTY CLERK 12/08/2023 01:53 PM INDEX NO. 036350/2023
uthentisign ID: 414C47EE-C228-42B2-BAB2-99C9AA0EF47A
NYSCEF DOC. NO. 4 RECEIVED NYSCEF: 12/08/2023
348 ADVICE. BUYER ACKNOWLEDGES THAT BROKER DOES NOT OCCUPY THE PROPERTY AND THAT ALL
349 REPRESENTATIONS (ORAL, WRITTEN OR OTHERWISE) BY BROKER ARE BASED ON SELLER
350 REPRESENTATIONS OR PUBLIC RECORDS UNLESS BROKER INDICATES PERSONAL VERIFICATION OF
351 THE REPRESENTATION. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND
352 GOVERNMENTAL AGENCIES FOR VERIFICATION OF THE PROPERTY CONDITION, SQUARE FOOTAGE AND
353 FACTS THAT MATERIALLY AFFECT PROPERTY VALUE.
354 Each person signing this Contract on behalf of a party that is a business entity represents and warrants to the other
355 party that such signatory has full power and authority to enter into and perform this Contract in accordance with its
356 terms and each person executing this Contract and other documents on behalf of such party has been duly authorized
357 to do so.
— AuthentisiGN
04/16/2021
358 Date:
359 NADA Associates LLC Tax ID No.:
(Typed or Printed Name of Buyer)
360 Title: Telephone:
361 Date:
(Signature of Buyer
362 Tax ID No.:
(Typed or Printed Name of Buyer)
363 Title: Telephone:
364 Buyer’s Address for purpose of notice
365 Facsimile:Email:
dotloop verified
04/19/21 5:56 PM EDT
366
THQL-Q9PH-QBXV-PPBJ