Preview
Filing # 190054892 E-Filed 01/18/2024 04:31:59 PM
Exhibit “A”
(Part 2 of 7)
AV \viones
ADDENDUM NO. 1 TO
PURCHASE AND SALE AGREEMEN:
(Job Initiation Order)
Option exertion Quantity vom Eqended Price
Not Roam-Specific
(Classic Crown on Kit Cabs (CABIS020) CMB or ACH, 1.09 2s
Level ‘Standard (CABO00061) AULBath Cabinets 1.90 °
Level 3-42” Kitchen Uppers (CABOOI6) 1.00 205
Upgrade Level 3 (CAB90023) Kiltchea/Bar Cabinet Sefections 1.00 1.505
([Frorae TS]
Not Room Specie
Diagonal Lay (FLTOOI96) Ext Ceramie Tie-Fiest Fr xg 1.00
Diagonal Lay (FLT00076) Ponder Bath Flooring Pattern 1.00 40
Diagonal Lay (FLT09036) ath 2 Flooring Paticen 1.00 as
Diagonat Lay (FLTEOOI6) ‘Master Bath Flooring Pattern 100
Level { Carpet Selection (FLCD0021) AIL Bedrooms 00
Level Ceram Tle (FLTOOIG}) Ext Ceramle Tile Fiest Fr Lvg, 100 1g6s
Level 1 Ceramle Tile (FLTO00G1) Ponder Bath Flooring. 41.00
Level 1 Ceram Tile (F1T00021) ‘Bath 2 Flooring Selections 100
Level I Cerumle THe (F1.700001) Master Bath Flooriag 1.00
(Gietting 2}
Not Room-Specitic
Sud Pig (LFX2O051) AML Buhs 190
Sus Pg (LFX20001) Nool/Foyed Dining 1.00
(Planing = lichen Feueet 2)
Not Reom-Specitic
‘Mocn Chateau Chrome-Std (BFA000S1) 28 Rath 100
Moen neg G7315C-ChromeSt Upped Kitchen Faucet 1.00
(KFAGOOI)
(Paont ‘Oiker 2}
Not Room-Specific
Plumbing China Selecttoas (PLE7006S) 1.00
(Trop & Surrounds i]
waa om CComemunty
42170000 - Lot Joo 0125
‘Sexearo 1747 =
Jansory 12,2005 1241 Po Page 2014
Jima wk
ROH-EMERALD-001978
_- —
AV \powes
ADDENDUM NO. 1 TO
PURCHASE AND SALE AGREEMENT
(Job Initiation Order)
a
Option Description Quantity vost Extended Price
Not Room-Specife
Level 1 Wall Tile (TSR0CO21) Bath 2 Wall Tie 1.00
Level 2 Listeta (TSR00302) ‘Master Bath ListelorDeca Opts 1.00 0
Level 2 Wall Tie (TSR00002) ‘Master Bath Wall Tile 1.09
[Exterior Colors
Cotir Package: ROH-D Toidnhome:
Liiigibre Sates Pre mts 0}
[Residence Sommary
Base House 9599
Lot Premium
Sales Office Options
Design Center Selections 8.000
‘Total Purchase Pricé 157.999
Price Reduction
Net Purchase Price ea
(Purchasers
tnt yale ow. sheho ‘Communsy £2170000- Lat Job 0125
‘Seenare 17617 3
slsquary 12,2005 12:41 tt Page dot4
pw war
ROH-EMERALD-001977
AV ions
ADDENDUM NO. 1 TO
PURCHASE AND SALE AGREEMENT
(Job Initiation. Order)
‘Véthout tmiting the generally of Sactions 5B, 9, and 23A of the Agreemant, In no eventshat! any of the lass snd
Ccandiions of this Addendum No. 1 In any way aller, condition, extend c otherwise alfect Seller's uncanaiional obligation ta Complete tne
Residence by tne Requires Completion Data, 28 sot forth in the Agreemeni and, in went that any provision in this Addendum No, 1 (or any
portion ereof)-wauld nave such effect or would omnerwise, nol be permitted for tis sale to qualify for the “Improved Lots" erempiion und
Interstate Land Sales Ful Disclosure Act, pursuant to 15 U.S.C. 1702(a)2, then such provision (or partion thereof) is heteby stricken and made
‘ul and void as itnaver a part of this Addendum Not
Couniemans, This Addendum No, { may ba exncuted in countsmparts, 2 complota set of which shall form w single document:
Excapl for eny-conticts with Section 58 of ino Agreomant, Inducing thosa relating lo Sollar's unconditonst obfigation ta Completa the
Residence by the Requitad Completion Date, in he event of any confict beeen this. Addandum No 1 and the Agroement, this Addandum No. 1
shall control. In al olher respedis, ichding Seter's unconditional oblijatien to Complete the Restience by ine Required Completion Oete, the
‘Agreement shall remain in [il force and etfect,
‘The Agreement, logethor with this Addendum No, 1 and any other addenda or amendments to the Agreement, contains the
‘entre agreement between Purchaser and Seller conceming the mattars sat forth herein. A prior discussions, negotiations and contracts, if any,
‘wheter oral or writen, are nereby superseded by thess dacuments. No addtion or modi indum No. 1 of the Agreement shall be
‘ete unless set fern wrng and signed by Purchaser and an authaizedagert of Sete
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PURCHASER: WO 6b L: side EY ciate License Number (f applicable)
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wale
roAe ate, Cornmunty 2170000 -Lot Job 0125
daquary 12,2015. 1241 eM Pogetot4
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ROH-EMERALD-001978
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siren 3 Bedesom | 5 Bath | 1.790 safe
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fiald 4 Bedroom |} Bath | 1.914 39.ft
Pirse SAN JUAN oo 2896 Temnante Terace w ovmay i900 402) 184999
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SANJUAN om Bit Lannte wae, 10 ours who a0 5157899
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7 ISADELLA A 2892Ta reTeace ‘aains W593 ts 9152999
1 bedroom {2.5 2atn |) 549 5q ft
"Ask About
Call Nathalie Green at 407-744-7025 Today! PAID CLOSING COSTS
Email: Nathalie@RoyalOakHomesFL.com ‘On Our Inventory Homes!
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ROH-EMERALD-001981
1 Purchaser represents that Purchaser has (or will have) sufficient cash available (together with
the referenced mortgage or mortgages) to complete this transaction, including but not limited to the down payment
and all costs associated with Closing. Purchaser shall be required to produce proof of sufficient available cash at any
time upon the request of Seller. If Purchaser cannot present such proof within two (2) days of request, Seller may
terminate this Agreement without further notice to Purchaser, The Deposit, and all additional sums and deposits
contemplated hereunder shall be paid by Purchaser to Seller in immediately available United States currency by cash
‘or personal check. Notwithstanding the foregoing, Seller may, in Seller’s sole and absolute discretion and with
reasonable notice to Purchaser, require payment of any sums due hereunder by certified or cashier's check, or by
wire transfer.
2 Should Purchaser fail to make payment of any additional monies as required herein, or
furnish false or incomplete information to Seller, Seller's agent, or the mortgage lender, concerning Purchaser's legal
or financial status, or fail to cooperate in the processing of the mortgage loan application, which acts would result in
the failure to obtain the approval of a mortgage commitment, or fail to comply with any of the terms of this Agreement,
then Purchaser shall be in default under this Agreement and the sum or sums paid on account of the Purchase Price
shall be forfeited to Seller as liquidated damages.
3. Section 501.1375, Florida Statutes, requires the following disclosure to Purchasers: THE
BUYER OF A ONE-FAMILY OR TWO-FAMILY RESIDENTIAL DWELLING UNIT HAS THE RIGHT TO HAVE ALL
DEPOSIT FUNDS (UP TO TEN PERCENT OF THE PURCHASE PRICE) DEPOSITED IN AN ESCROW ACCOUNT.
THIS RIGHT MAY BE WAIVED, IN WRITING, BY BUYER.
WAIVER Purchaser's Initials .72£—
Purchaser waives its rights under Section 501.1375, Florida Statutes, to have the Deposit, up to ten
poreent (10%) ofthe Purchese Price, deposited in an Escrow account. In the event the Purchaser
waives this righl, the Deposit funds will be placed with Royal Oak Homes in a non-interest bearing
account.
B. Mortgage Financing
1 Purchaser's obligation to close the transaction contemplated herein shall be contingent upon
the Purchaser abt a mortgage loan only if Purchaser complies in a timely manner with all applicable
requirements of Purchaser pursuant lo this Section I! B(1), including, but not {imited to, application with the Preferred
Lender under Section I B(1){b) below. If no such application is made with the Preferred Lender, Purchaser's
obligation to close is not contingent upon Purchaser's obtaining of a mortgage loan or any other financing.
Purchaser's obligation to close the transaction contemplated herein shall be contingent upon the Purchaser obtaining
3 mortgage loan only if all of the following requirements are satisfied by Purchaser:
(a) A mortgage amount must de set forth in this Section I above; and
(b)
Purchaser must apply fer a mortgage loan with FBC Mortage OR Waterston
(the "Preferred Lender’) on or before five (5) days after signing this
Agreement, and the Purchaser must furnish, or cause to be furnished, all information
and documents necessary or required to complete the loan application within five (5)
calendar days after request thereof, and use reasonable diligence to obtain said
mortgage loan.
2 Ifthe Purchaser does not qualify for a mortgage foan with the Preferred Lender within ten (10)
days from the date hereof and Purchaser has satisfied the requirements of Section Il B(1) above, and the Purchaser
notifies the Seller in writing on or before ten (10) days from the date of this Agreement that the Purchaser did not
qualify for a mortgage loan with the Preferred Lender and that the Purchaser has satisfied the requirements of Section
11 B(1) above, Seller shall retum the Earnest Money Deposit(s), if applicable, to the Purchaser, and upon receipt
thereof all parties shall be relieved of all further obligations under this Agreement. However, in the event that
Purchaser does not qualify for a mortgage loan with the Preferred Lender and fails to satisfy the requirements of
Section II B(1) above, within ten (10) days from the date hereof, or fails to notify the Seller in writing within ten (10)
days from the date of this Agreement that the Purchaser did not qualify for a mortgage loan with the Preferred Lender
in said ten (10) day period, as set forth in this Section I! B(2), such failure shall be deemed a default by the Purchaser
as set forth in Section VII below. Purchaser expressly acknowledges and agrees that such a default will (as provided
in Section Vil belew) permit Seller to relain as liquidated damages the Eamest Money Deposit(s), and any Change
‘Order Deposits and other expenses, and any other payments.
3. Purchaser acknowledges that in accordance with this Section Il (B), the only instance
in which this Agreement may be contingent upon financing is In the event Purchaser makes application for
financing with the Preferred Lender and otherwise complles with all requirements set forth in Section I (B)(1)
and (2) and this Agreement. Purchaser may seek financing with any other lender or third party of Purchaser's
choice, but in such instances this Agreement shall be deemed a cash transaction and in no way will
Purchaser's obligations hereunder be contingent upon Purchaser obtaining financing.
4. Purchaser agrees that Purchaser will assume responsibility for any loan disqualification
before or afferan initial loan commitment is acquired and until loan closing with the lender. If there is a change in
Purchaser's creditworthiness or other status following approval of Purchaser's financing application by the Preferred
Lender, any such change in creditworthiness or otherwise that leads to loan disqualification shall not be considered @
failure of the Preferred Lender financing contingency set forth in Section 1! B(1) and (2) above and shall not entitle
Purchaser to a refund of any deposits or other sums paid under the terms of this Agreement, Il is Purchaser's sole
responsibility to satisfy any and all mortgage conditions at least two (2) weeks prior to the schedulad Closing.
Purchase Agreement
wo wit
ROH-EMERALD-001982
5. If this sale is financed by a Federal Housing Administration ("FHA") or Veterans
Administration ("VA") insured loan, as evidenced by a mark in the appropriate box in the Finance Addendum hereto, it
is expressly agreed that, notwithstanding any other provisions of this Agreement, Purchaser shal! not be obligated to
‘complete the purchase of the Home described herein or to incur any penalty by forfeiture of Eamest Money Deposit or
otherwise unless Purchaser has been given, in accordance with the Department of Housing and Urban Development
("HUD") / FHA or VA requirements, @ written statement by the Federal Housing Commissioner, Department of
Veterans Affairs, or a Direct Endorsement lender setting forth the appraised value of the Property of not less than the
Purchase Price stated herein. The Purchaser shall have the privilege and option of proceeding with the Closing of
this Agreement without regard to the amount of the appraised valuation. The appraised valuation is arrived at to
determine the maximum mortgage the Department of Housing and Urban Development insure. HUD does not
warrant the value ar the condition of the property. The Purchaser should satisfy itself that the price and condition of
the property are acceptable.
6 Failure or refusal of Purchaser's spouse for any reason, to execute the mortgage to be
obtained by Purchaser, or other closing documents, which signature is required for their validity shall be deemed a
default by Purchaser.
7. This Agreement is subordinate to and subject to the lien and terms of any and all mortgages
and related uurity agreements Seller may obtain to provide for the purchase of the Lot, construction of the Home,
andlor subdivision improvements, whether currently of record or executed and recorded anytime hereafter, However,
Seller shall cause said liens, mortgages, or related encumbrances to be satisfied or released as to the Home prior to
‘ot at Closing. This paragraph shail be seff-operstive and no further instrument shall be required to effect such
subardination.
8. Purchaser represents and warrants that this Agreement and the mortgage loan referenced
herein (if applicable) are rot-and will not ba subject fo or contingent upon Purchaser selling and/or closing on the sale
‘of Purchaser's present residence Gr othét property unless the parties so agree by addendum to this Agreement.
Failure to disclose such contingency will constitute a default by Purchaser and the remedies for Purchaser's default
under this Agreement shall apply.
ti, CO! iS TO PURCHASE AGREEt
A. ‘ondition: (1 i Purchaser understands that all documents related to
this Agreement, including a fully executed and signed Decorator Selection Sheet, any and all option or construction
change addenda, and the deposit of the Second Eamest Money Deposit, (the "Required Documentation’) are due no
later than 14 calendar days after the Purchaser signs this Agreement. Further, the Purchaser understands and
agrees that any delay in Seller's receipt of the Required Documentation may cause delays in the completion time and
increases in prices. If, for any reason the Seller does not timely receive the Required Documentation, Seller, at its
sole option, may terminate this Purchase Agreement. if Seller so terminates this Agreement, Purchaser shall receive
a refund of its Eamest Money Deposit, less any-costs and expenses actually incurred by Seller, as its sole remedy
hereunder. Seller's failure to terminate this Agreement under this provision shail not be deemed a waiver of any of
Seller's rights in equity or at law, nor shall it be deemed an extension of any other period of time herein.
8. lal Conditions F. 01 lomes
1 Purchaser must complete a Decorator Selection Sheet for items not yet ordered, execute any
applicable option/upgrade addendum and submit the Required Documentation by no later than fourteen (14) calendar
days after the Purchaser signs this Agreement, or this Agreement shall automatically terminate.
2 ‘The total Eamest Money Deposit for an Inventory Home is non-refundable upon Seller's
acceptance of Purchase Agreement,
¢. Completion Date Seller shall complete the Home within twenty-four (24) months from the date the
Purchaser executes this Agreement (the "Completion Date"); subject, however, to delays caused by events which
would support a recognizable contract defense under the laws of the State of Florida, such as impossibility of
performance ("Delay(s)"). if, because of such Delays, the Seller is unable to substantially complete construction of
the Home within two (2) years after Purchaser executes this Agreement, the date of completion of the Home shall be
‘extended by the period of such Delays. Itis the express intent of the parties that the transaction contemplated by this
Agreement qualify for the exemption provided for under 15 U.S.C.§§1702(a)(2). The Home shall be considered
‘complete when it has been constructed in substantial conformance with Seller's plans and specifications as provided
for in this Agreement. When applicable, the local municipality's final inspection and approval in the form of a
Certificate of Occupancy or the appropriate goverment agency's approval (i.¢., FHA/VA), shall constitute
uncontestable proof of completion.
DITIOF QUT OF HO! Seller shall have no obligation to abide by Purchaser's request to
make any changes from the standard plans and specifications for the Home. Changes requested after the Required
Documentation has been received by Seller shall be submitted on a Change Order, which must be approved in writing
by the Seller, which approval may be withheld by Seller in its sole and absolute discretion. Purchaser shall deposit
the full amount due on the Change Order with Seller upon submission of said Change Order (the "Change Order
Deposit”). Such amount shall be refunded if Seller does not approve the Change Order. In addition, as consideration
for entering into any Change Order, Seller may require Purchaser to pay a non-refundable administrative fee in the
‘amount of FIVE HUNDRED AND NO/100 DOLLARS ($500.00) per Change Order entered into between the parties.
Certain items displayed in the Seller's models, such as decorator items or material upgrades, and such items
as extra fencing, special landscaping and any other items displayed for merchandising purposes, are not standard
construction items and are not included in this Agreement. Seller does not and cannot promise or represent thal the
Home will be identical to any model, representation, or artist sketch, unless identified in writing on the Decorator
Selection Sheet of Upgrade/Option/Construction Change Addenda. Changes in government requirements, local
Purchase Agreement
Ptr Ue
ROH-EMERALD-001983
-
building codes, Purchaser preferences and in the. avalability of components and materials, may necessitate
modifications to the Home. At all times, Seller will attempt to ensure that any modifications are equal to or better than
represented. Seller reserves the right to make changes in the plans, specifications, materials, and components being
used af the time of purchase. In the evént that any Option or Construction Change is not incorporated into the home,
due to unavailability or any other reason, Purchaser shail only be entitled to a refund of any amounts paid for such
Option or Construction Change. In no event shall failure te include such Option or Construction Change in the Home
be grounds for lerminalion of this Agreement. Any and all Options or Upgrades or Construction Changes shall be
submitted in writing as addenda to this Agreement. Purchaser agrees to pay cash for any and all optional features not
reflected in the appraised value.
Each Lot is unique in its size, shape and drainage characteristics. Purchaser understands and agrees that
the size of the Lot; the exact location of sidewalks and driveways (if any); and the drainage pattems of the Lot will
differ from the model home plans, drawings or renderings Purchaser has examined, and Seller reserves the right to
determine the location and configuration of the Home upen the Lot subject to subdivision requirements. In the event
that the type of Home desired by Purchaser will not fit on the Lot pursuant to subdivision requirements, Seller shall so
notify Purchaser and this Agreement shall be terminated, the Deposit returned to Purchaser, and the parties shall be
teleased-from all-further liability hereunder.
v. ICECONSTRUCTION ACT! Purchaser has no right to enter or occupy the Home before
Closing without Seller's written appioval. A construction site is a dangerous place and Purchaser is prohibited from
entering the Home without written permission from a representative of Royal Oak Homes. If Purchaser receives
permission, Purchaser must be accompanied by a representative of Royal Oak Homes. If Purchaser or Purchaser's
dependents, quests, companions or invitees sustain any personal injury or cause any personal injury to third parties or
cause property damage to the Home, or equipment thereon, with or without Sellers consent, Purchaser shall
indemnity, defend and hold hanmless Seller, its agants and employees from any claims, loss, damage or expense
arising from such personal injury of property damage, including attomeys' fees and Purchaser, for itself and its heirs,
hereby waives and relinquishes any and all claims or causes of action against Seller or its employees or agents
arising (rom personal injury or property damage sustained upon the Home.
Prior to Closing, Purchaser shall not enter upon or within the Home and make any changes, additions or alterations in
the construction of the Home including, but not limited to the installation or addition of any equipment, electrical wiring,
materials, appliances, wall coverings or paint. Further, Purchaser shall give no direction to Seller's construction crew
‘or any subcontractor working on the Horie, and no commitments made by such crew member or subcontractor shall
be binding upon Seller. Purchaser agrees not to interfere with, restrict, interrupt, harass or obstruct construction or its
progress, physically, by nuisance or in any other manner, So doing shall constitute @ breach of this Agreement and a
failure to perform on the parl.of Purchaser. Under such circumstances, at Seller's option, Seller shail be entitled to
the remedies set forth in Section Vil herein.
All owners, cccupants and users of the community are hereby placed on notice, and agree that (1) Seller and/or its
agents, contractors, subcontractors, licensees and other designees, and/or (2) any other parties, from time to time,
will be conducting excavation, construction and other activities within or in proximity to the community. By the
‘acceptance of the deed or other conveyance or mortgace, leasehold, license or other interest, and by using any
portion of the community, each such awner, cccupant and user automatically acknowledges, ipulates and agrees (i)
that none of the aforesaid activities shall be deemed nuisances or noxious or offensive activities, hereunder or at law
generally, (il) not to enter upon, ‘or allow thaie children or other persons under their control af direction to enter upon
(regardless of whether such entry Is trespass) any property within or in proximity to thé area where such activily is
being conducted (even if not baing actively conducted at fre time of entry, such as al night or otherwise during non-
working hours), (ii) Seller and the other aforesaid related parties shall have no liability for any losses, damages
(compensatory, consequential, punilive of otherwise), injuries or deaths arising from or relating to the aforesaid
activities, except resulting directly from Seller's gross.negligence or wilful misconduct, (iv} any purchase or use of any
portion of the community has been and will be made with full knowledge of the foregaing and (v) this acknowledgment
and agreement is 4 material inducement to Seller to sell, convey, and/or allow the use of the home. This Section V
shall survive the Closing.
vw LOSING, IOUNTS DUE. Si ND TITLEI NC!
A “Closing” means the date upon which Purchaser pays all monies due and owing, and Seller conveys
title and transfers physical possession of the Home to the Purchaser. Closing shall occur at a place selected by
Seller.
8. Purchaser agrees to consummate this transaction within ten (10) business days after the receipt of
notice (the “Closing Notice”) from Seller or its autharized agent, and shall take place only after the Issuance of a
Certificate of Occupancy from the governing municipality. The Closing Notice will be sent or directed to the address
specified-on tha first page of this Agreement unless Seller has received written notice from Purchaser of a change in
address prior to the date the Closing Notice is given. An affidavit of one of Seller's employees or agents stating the
Closing Notice was mailed or placed with a private express delivery system shall be presumed to establish that the
Closing Notice was received, IF PURCHASER FAIL¢ TO CLOSE AS REQUIRED BY THIS PARAGRAPH,
PURCHASER WILL BEIN DEFAULT OF THIS AGREEMENT.
c. Seller, at its sole option and without waiver of any rights, may grant an extension of the Closing
beyond the-ten (10) business day period. As consideration for extension, Purchaser shall pay a fee in the amount of
‘one hundred fifty dollars ($150) per day for each dayof the extension. In addition, Purchaser shall pay a fee in the
amount of ane thousand dollars ($1,000) to compensate Seller for the additional administrative cost and expense of
Tescheduling and extending the Closing.
D. In addition to the Purchase Price and except as otherwise provided herein, the Purchaser shall pay
the follwing amounts at Closing, the prorations of which may increase or decrease the balance of the funds that
Purchaser will owe:
Paces een
Ge vie
ROH-EMERALD-001984
1 All costs to obtain and close the mortgage loan and costs to close the transaction (the
"Closing Costs"). The Closing Costs shall include, but no! be limited to attorneys’ fees, owner's {itle insurance fees
{including title search, title evaluation, policy preparation and tile insurance premium(s)), mortgagee's title insurance,
private mortgage insurance, other insurance, mortgage ttle endorsements, taxes, surtax, recording fees, discount
points, and mortgage fees and costs, prepaid escrows, appraisal fees, intangible taxes and survey charges.
2 Pending liens for public improverrents not certified as complete as of the Effective Date of
this Agreement.
3. Amounts related to the Homeowner's Association, including without limitation the initial fee
and prorated annual assessments for the year of Closing, if any, and additional costs related to the Home that any
governmental authority may impose.
4. Real property taxes and any other assessments against the Home and any other expense
applicable to the Home prorated as of the date of Closing. If the actual real estate tax bill is nat available at the time
of Closing, real estate tax prorations will be based upon Seller's late of what the tax bill will be. If Closing occurs
in a year in which taxes are assessed on the Homeowner Association's Property or on a Building or Buildings within
the Homeowners’ Association rather than on a home by home basis, Purchaser shall pay to Seller, at Closing, Seller’s
estimate of Purchaser's prorata share of property taxes, ard Seller shall pay the taxes for the year. Either party shall
be entitled to have the prorations readjusted by notifying the other party in waiting if the actual bill is different from
Seller's estimate, Within thirty (30) days after readjustment, whichever party owes money to the other will make the
required payinent,
5. Any utility connection fees or deposits, including security service, if applicable, that Seller
may have paid prior to Closing to provide such service to the Home, Prior to Closing, Purchaser shall coordiriaté with
all utility and service providers ta: transfer and/or initiate al necessary utility services to the Home as of the date of
Closing. Seller shall have no obligation to pay for or provide utllty services to the Home at any point from and atter
Closing.
6, ‘The cost df the documentary stam> tax and costs to record the deed.
7. Customary Closing costs of a Purchaser, including but not fimited ta items such as loan fees,
Joan closing costs and other related costs, atlomeys' fees, 2scrows for taxes and insurance, prepard items required by
the lender, recording fees, dacumentary stamp taxes on tha Promissory Note, Intangible , Credit Reports, Survey and
Private Mortgage Insurance, if applicable.
8: Any penalties, late fees or other Closing charges pursuant to this Agreement.
In the event that Purchaser finay the purchase of the Property with a mortgage loan from the Preferred
Lender, Seller agrees to pay tee
us de towards Purchaser's Closing Coils at Closing,
Purchaser's Initials.
E. At Closing, or upon Purchaser's request, fve days prior to Closing, Seller shall detiver to Purchaser,
al the cost of Purchaser as set forth in Subparagraph (f) below, a tile insurance commitment from a Fidrida licensed
insurer in the amountof the purchase price, showing insurable fee simple title in the Seller, subject ta the standard
printed exceptions found in the standard ALTA policies, zoning and/or restrictions. and prohiaitions imposed by
govémmichtal authority(ies), recorded covenants and restictions appearing of record or on the pist of the’ Property,
easements of record, taxes for the year of Closing, and other matters described. in this Agreement, including all
Addenda attached hereto (the "Permitted Exceptions”), and agreeing to issue Purchaser a title insurance policy after
recordation of the Deed and other requisite instruments. {the fitle commitment contains an exception other than the
Permitted Exceptions, Closing shal) be extended for up 10 thirty (30) business days to enable Seller to cure such
defect in the title. Itafter diligent effort, Seller is not able lo cure such title dafect within thirty (30) business days from
the date of ristice of such defect, this Agreement: shall terminate and the Total Eamest Money Deposit shall be
retumed fo Purchaser as Purchaser's sole and only remecy in such event. If Purchaser falls ta close this transaction
within the later time period, such fallure shall be a default ty Purchaser hereunder:
F. Pursuant to the Real Estate Settlement Procedures Act of 1974, Purchaser acknowledges that Seller
has not required, directly or indirectly, as a condition of sale that Purchaser purchase either a fee owner or
mortgagee's titte insurance policy from any particular title company. Purchaser may élect to obtain such Insurance
from a company of Purchaser's choice and Purchaser will pay, at Closing, the title Insurance premium for such policy.
6. Seller shall furnish to Purchaser no later than Closing, a Termite Soil or Wood Applied Liquid
Treatment Guarantee and a Subterranean Termite Contract issued by a locally licensed exterminator. Purchaser
shall, from and after the Closing, maintain a termite treatment program at its so!e cost.and expense. This covenant
shall expressly survive the Closing.
Vil. DEFAULT
A. Pe i Ct
If Purchasar fails to perform ary of the covenants of this Agreement
within the time spect. a failure to payy the Secord Eamest Monay Deposit, the Purchaser will be deemed to
be in default hereunder. In such event, the Initial Deposit, the Second Earnest Money Deposit, any Additional
Deposit
Preview
Filing # 190054892 E-Filed 01/18/2024 04:31:59 PM Exhibit “A” (Part 2 of 7) AV \viones ADDENDUM NO. 1 TO PURCHASE AND SALE AGREEMEN: (Job Initiation Order) Option exertion Quantity vom Eqended Price Not Roam-Specific (Classic Crown on Kit Cabs (CABIS020) CMB or ACH, 1.09 2s Level ‘Standard (CABO00061) AULBath Cabinets 1.90 ° Level 3-42” Kitchen Uppers (CABOOI6) 1.00 205 Upgrade Level 3 (CAB90023) Kiltchea/Bar Cabinet Sefections 1.00 1.505 ([Frorae TS] Not Room Specie Diagonal Lay (FLTOOI96) Ext Ceramie Tie-Fiest Fr xg 1.00 Diagonal Lay (FLT00076) Ponder Bath Flooring Pattern 1.00 40 Diagonal Lay (FLT09036) ath 2 Flooring Paticen 1.00 as Diagonat Lay (FLTEOOI6) ‘Master Bath Flooring Pattern 100 Level { Carpet Selection (FLCD0021) AIL Bedrooms 00 Level Ceram Tle (FLTOOIG}) Ext Ceramle Tile Fiest Fr Lvg, 100 1g6s Level 1 Ceramle Tile (FLTO00G1) Ponder Bath Flooring. 41.00 Level 1 Ceram Tile (F1T00021) ‘Bath 2 Flooring Selections 100 Level I Cerumle THe (F1.700001) Master Bath Flooriag 1.00 (Gietting 2} Not Room-Specitic Sud Pig (LFX2O051) AML Buhs 190 Sus Pg (LFX20001) Nool/Foyed Dining 1.00 (Planing = lichen Feueet 2) Not Reom-Specitic ‘Mocn Chateau Chrome-Std (BFA000S1) 28 Rath 100 Moen neg G7315C-ChromeSt Upped Kitchen Faucet 1.00 (KFAGOOI) (Paont ‘Oiker 2} Not Room-Specific Plumbing China Selecttoas (PLE7006S) 1.00 (Trop & Surrounds i] waa om CComemunty 42170000 - Lot Joo 0125 ‘Sexearo 1747 = Jansory 12,2005 1241 Po Page 2014 Jima wk ROH-EMERALD-001978 _- — AV \powes ADDENDUM NO. 1 TO PURCHASE AND SALE AGREEMENT (Job Initiation Order) a Option Description Quantity vost Extended Price Not Room-Specife Level 1 Wall Tile (TSR0CO21) Bath 2 Wall Tie 1.00 Level 2 Listeta (TSR00302) ‘Master Bath ListelorDeca Opts 1.00 0 Level 2 Wall Tie (TSR00002) ‘Master Bath Wall Tile 1.09 [Exterior Colors Cotir Package: ROH-D Toidnhome: Liiigibre Sates Pre mts 0} [Residence Sommary Base House 9599 Lot Premium Sales Office Options Design Center Selections 8.000 ‘Total Purchase Pricé 157.999 Price Reduction Net Purchase Price ea (Purchasers tnt yale ow. sheho ‘Communsy £2170000- Lat Job 0125 ‘Seenare 17617 3 slsquary 12,2005 12:41 tt Page dot4 pw war ROH-EMERALD-001977 AV ions ADDENDUM NO. 1 TO PURCHASE AND SALE AGREEMENT (Job Initiation. Order) ‘Véthout tmiting the generally of Sactions 5B, 9, and 23A of the Agreemant, In no eventshat! any of the lass snd Ccandiions of this Addendum No. 1 In any way aller, condition, extend c otherwise alfect Seller's uncanaiional obligation ta Complete tne Residence by tne Requires Completion Data, 28 sot forth in the Agreemeni and, in went that any provision in this Addendum No, 1 (or any portion ereof)-wauld nave such effect or would omnerwise, nol be permitted for tis sale to qualify for the “Improved Lots" erempiion und Interstate Land Sales Ful Disclosure Act, pursuant to 15 U.S.C. 1702(a)2, then such provision (or partion thereof) is heteby stricken and made ‘ul and void as itnaver a part of this Addendum Not Couniemans, This Addendum No, { may ba exncuted in countsmparts, 2 complota set of which shall form w single document: Excapl for eny-conticts with Section 58 of ino Agreomant, Inducing thosa relating lo Sollar's unconditonst obfigation ta Completa the Residence by the Requitad Completion Date, in he event of any confict beeen this. Addandum No 1 and the Agroement, this Addandum No. 1 shall control. In al olher respedis, ichding Seter's unconditional oblijatien to Complete the Restience by ine Required Completion Oete, the ‘Agreement shall remain in [il force and etfect, ‘The Agreement, logethor with this Addendum No, 1 and any other addenda or amendments to the Agreement, contains the ‘entre agreement between Purchaser and Seller conceming the mattars sat forth herein. A prior discussions, negotiations and contracts, if any, ‘wheter oral or writen, are nereby superseded by thess dacuments. No addtion or modi indum No. 1 of the Agreement shall be ‘ete unless set fern wrng and signed by Purchaser and an authaizedagert of Sete cone PEG alge lu — fs Sales Asseciate / Design Consent sfc PURCHASER: WO 6b L: side EY ciate License Number (f applicable) See wale roAe ate, Cornmunty 2170000 -Lot Job 0125 daquary 12,2015. 1241 eM Pogetot4 Pon wae ROH-EMERALD-001978 oe URE ISABELLA FLOORPLAN, 3 Bedroom 25 Bath | NOMA ge aNd Ist Floor Ind Floor i iN wo ry LANAI HEE Opes MASTER NIG) BEDROOM TT i FAMILY i 1 = BEDROOM 2 tf CFoveR-| AO Ape rH ran iar Lt Te arent jook "H] U i Post BEDROOMS es ad ro] aoc {ante eee brn inlofl head alia ohana nied er ae a 1 2005 LakemontAveun ute 450 + Orindo 32814 + 4972069900» RoptOatHomasFLcom a wee |___- ae ae eee a a = ie srreran EMERALD LAKE 0 le OS ; sl| &}3|5 Bs AS Ue 1 a seat a sore Ss ol Eo cew su an Sia x\\ Qo latalle ahalajayalals| a 2 (ala]s < ave WN Suite 450 Orlando, FL 32814 407.206.9300 RoyalOakHomesFL.com ntbenre ee — EF ay 7 a 7 ae a ee = io4 PU aN an «Low HOA Dues Yaa NG + Playground « Top-Rated Schools. Zhe ailtbe Soon. = Pool & Cobona KISSIMMEE, FL wD / Inventory Homes i pe of si cs a} = a cure hae Le) ny ai = Ry [a el ‘a a = a ca aay im ‘ weee ae Cory A Eo i rs coy aa on mm En BLL: a Ee Piee) ey a Fi EI peed Ta SANJUAN ou 296 Te 2% Complete a, (4355) s1s9999 J Begroom | 3 Ba3h | 1.730 49.0¢ ABELLA (0 Tanratite Terace 1 Complore 2s pany suse sacl Sfedegom [25 B01 954 ft Model Leaseback Ask for details aoe Gaeta oe i drvom {75 Bath iss gt SAN JUAN aa Ts We Tracie Torace te ™ ese Complete eas ver ai p15) 5159999 3 Bedroom |! Bath | 1.730 sq.ft ET ISABELLA om 3806 Tene re Terace we ouans 10 Hom sts7999 3 Bedroom | 2.8 Bath | 1.529 5¢.ft Te 5 SAN JUAN om BO TartoiteTerace a ones vol (A020 s1s4999 siren 3 Bedesom | 5 Bath | 1.790 safe SAN TUAN on 2807 Tanerite Trace 1% oumas ease és39) sisz999 & } Bedroom | 5 Sath | 1.730 54 (t ail TS SEBASTIAN, om 12960 TanranteTerace wy ons m2909 iq) 164999 fiald 4 Bedroom |} Bath | 1.914 39.ft Pirse SAN JUAN oo 2896 Temnante Terace w ovmay i900 402) 184999 ey J dedecam (9 Bath [4.090 s0.tt SANJUAN om Bit Lannte wae, 10 ours who a0 5157899 ‘ey a bedsadm [3 bath | 1720 ¢q 7 ISADELLA A 2892Ta reTeace ‘aains W593 ts 9152999 1 bedroom {2.5 2atn |) 549 5q ft "Ask About Call Nathalie Green at 407-744-7025 Today! PAID CLOSING COSTS Email: Nathalie@RoyalOakHomesFL.com ‘On Our Inventory Homes! Xe Bp ENE ties eed “eset end yue evi tieinwe Papier ed anionm an scenes sree rare ant Pies Soestnnom afer. nee werpeerin reper nes CaPrdnen ree be: eX oy id OTE eS rT By;By BE: Re Plena ROH-EMERALD-001981 1 Purchaser represents that Purchaser has (or will have) sufficient cash available (together with the referenced mortgage or mortgages) to complete this transaction, including but not limited to the down payment and all costs associated with Closing. Purchaser shall be required to produce proof of sufficient available cash at any time upon the request of Seller. If Purchaser cannot present such proof within two (2) days of request, Seller may terminate this Agreement without further notice to Purchaser, The Deposit, and all additional sums and deposits contemplated hereunder shall be paid by Purchaser to Seller in immediately available United States currency by cash ‘or personal check. Notwithstanding the foregoing, Seller may, in Seller’s sole and absolute discretion and with reasonable notice to Purchaser, require payment of any sums due hereunder by certified or cashier's check, or by wire transfer. 2 Should Purchaser fail to make payment of any additional monies as required herein, or furnish false or incomplete information to Seller, Seller's agent, or the mortgage lender, concerning Purchaser's legal or financial status, or fail to cooperate in the processing of the mortgage loan application, which acts would result in the failure to obtain the approval of a mortgage commitment, or fail to comply with any of the terms of this Agreement, then Purchaser shall be in default under this Agreement and the sum or sums paid on account of the Purchase Price shall be forfeited to Seller as liquidated damages. 3. Section 501.1375, Florida Statutes, requires the following disclosure to Purchasers: THE BUYER OF A ONE-FAMILY OR TWO-FAMILY RESIDENTIAL DWELLING UNIT HAS THE RIGHT TO HAVE ALL DEPOSIT FUNDS (UP TO TEN PERCENT OF THE PURCHASE PRICE) DEPOSITED IN AN ESCROW ACCOUNT. THIS RIGHT MAY BE WAIVED, IN WRITING, BY BUYER. WAIVER Purchaser's Initials .72£— Purchaser waives its rights under Section 501.1375, Florida Statutes, to have the Deposit, up to ten poreent (10%) ofthe Purchese Price, deposited in an Escrow account. In the event the Purchaser waives this righl, the Deposit funds will be placed with Royal Oak Homes in a non-interest bearing account. B. Mortgage Financing 1 Purchaser's obligation to close the transaction contemplated herein shall be contingent upon the Purchaser abt a mortgage loan only if Purchaser complies in a timely manner with all applicable requirements of Purchaser pursuant lo this Section I! B(1), including, but not {imited to, application with the Preferred Lender under Section I B(1){b) below. If no such application is made with the Preferred Lender, Purchaser's obligation to close is not contingent upon Purchaser's obtaining of a mortgage loan or any other financing. Purchaser's obligation to close the transaction contemplated herein shall be contingent upon the Purchaser obtaining 3 mortgage loan only if all of the following requirements are satisfied by Purchaser: (a) A mortgage amount must de set forth in this Section I above; and (b) Purchaser must apply fer a mortgage loan with FBC Mortage OR Waterston (the "Preferred Lender’) on or before five (5) days after signing this Agreement, and the Purchaser must furnish, or cause to be furnished, all information and documents necessary or required to complete the loan application within five (5) calendar days after request thereof, and use reasonable diligence to obtain said mortgage loan. 2 Ifthe Purchaser does not qualify for a mortgage foan with the Preferred Lender within ten (10) days from the date hereof and Purchaser has satisfied the requirements of Section Il B(1) above, and the Purchaser notifies the Seller in writing on or before ten (10) days from the date of this Agreement that the Purchaser did not qualify for a mortgage loan with the Preferred Lender and that the Purchaser has satisfied the requirements of Section 11 B(1) above, Seller shall retum the Earnest Money Deposit(s), if applicable, to the Purchaser, and upon receipt thereof all parties shall be relieved of all further obligations under this Agreement. However, in the event that Purchaser does not qualify for a mortgage loan with the Preferred Lender and fails to satisfy the requirements of Section II B(1) above, within ten (10) days from the date hereof, or fails to notify the Seller in writing within ten (10) days from the date of this Agreement that the Purchaser did not qualify for a mortgage loan with the Preferred Lender in said ten (10) day period, as set forth in this Section I! B(2), such failure shall be deemed a default by the Purchaser as set forth in Section VII below. Purchaser expressly acknowledges and agrees that such a default will (as provided in Section Vil belew) permit Seller to relain as liquidated damages the Eamest Money Deposit(s), and any Change ‘Order Deposits and other expenses, and any other payments. 3. Purchaser acknowledges that in accordance with this Section Il (B), the only instance in which this Agreement may be contingent upon financing is In the event Purchaser makes application for financing with the Preferred Lender and otherwise complles with all requirements set forth in Section I (B)(1) and (2) and this Agreement. Purchaser may seek financing with any other lender or third party of Purchaser's choice, but in such instances this Agreement shall be deemed a cash transaction and in no way will Purchaser's obligations hereunder be contingent upon Purchaser obtaining financing. 4. Purchaser agrees that Purchaser will assume responsibility for any loan disqualification before or afferan initial loan commitment is acquired and until loan closing with the lender. If there is a change in Purchaser's creditworthiness or other status following approval of Purchaser's financing application by the Preferred Lender, any such change in creditworthiness or otherwise that leads to loan disqualification shall not be considered @ failure of the Preferred Lender financing contingency set forth in Section 1! B(1) and (2) above and shall not entitle Purchaser to a refund of any deposits or other sums paid under the terms of this Agreement, Il is Purchaser's sole responsibility to satisfy any and all mortgage conditions at least two (2) weeks prior to the schedulad Closing. Purchase Agreement wo wit ROH-EMERALD-001982 5. If this sale is financed by a Federal Housing Administration ("FHA") or Veterans Administration ("VA") insured loan, as evidenced by a mark in the appropriate box in the Finance Addendum hereto, it is expressly agreed that, notwithstanding any other provisions of this Agreement, Purchaser shal! not be obligated to ‘complete the purchase of the Home described herein or to incur any penalty by forfeiture of Eamest Money Deposit or otherwise unless Purchaser has been given, in accordance with the Department of Housing and Urban Development ("HUD") / FHA or VA requirements, @ written statement by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement lender setting forth the appraised value of the Property of not less than the Purchase Price stated herein. The Purchaser shall have the privilege and option of proceeding with the Closing of this Agreement without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development insure. HUD does not warrant the value ar the condition of the property. The Purchaser should satisfy itself that the price and condition of the property are acceptable. 6 Failure or refusal of Purchaser's spouse for any reason, to execute the mortgage to be obtained by Purchaser, or other closing documents, which signature is required for their validity shall be deemed a default by Purchaser. 7. This Agreement is subordinate to and subject to the lien and terms of any and all mortgages and related uurity agreements Seller may obtain to provide for the purchase of the Lot, construction of the Home, andlor subdivision improvements, whether currently of record or executed and recorded anytime hereafter, However, Seller shall cause said liens, mortgages, or related encumbrances to be satisfied or released as to the Home prior to ‘ot at Closing. This paragraph shail be seff-operstive and no further instrument shall be required to effect such subardination. 8. Purchaser represents and warrants that this Agreement and the mortgage loan referenced herein (if applicable) are rot-and will not ba subject fo or contingent upon Purchaser selling and/or closing on the sale ‘of Purchaser's present residence Gr othét property unless the parties so agree by addendum to this Agreement. Failure to disclose such contingency will constitute a default by Purchaser and the remedies for Purchaser's default under this Agreement shall apply. ti, CO! iS TO PURCHASE AGREEt A. ‘ondition: (1 i Purchaser understands that all documents related to this Agreement, including a fully executed and signed Decorator Selection Sheet, any and all option or construction change addenda, and the deposit of the Second Eamest Money Deposit, (the "Required Documentation’) are due no later than 14 calendar days after the Purchaser signs this Agreement. Further, the Purchaser understands and agrees that any delay in Seller's receipt of the Required Documentation may cause delays in the completion time and increases in prices. If, for any reason the Seller does not timely receive the Required Documentation, Seller, at its sole option, may terminate this Purchase Agreement. if Seller so terminates this Agreement, Purchaser shall receive a refund of its Eamest Money Deposit, less any-costs and expenses actually incurred by Seller, as its sole remedy hereunder. Seller's failure to terminate this Agreement under this provision shail not be deemed a waiver of any of Seller's rights in equity or at law, nor shall it be deemed an extension of any other period of time herein. 8. lal Conditions F. 01 lomes 1 Purchaser must complete a Decorator Selection Sheet for items not yet ordered, execute any applicable option/upgrade addendum and submit the Required Documentation by no later than fourteen (14) calendar days after the Purchaser signs this Agreement, or this Agreement shall automatically terminate. 2 ‘The total Eamest Money Deposit for an Inventory Home is non-refundable upon Seller's acceptance of Purchase Agreement, ¢. Completion Date Seller shall complete the Home within twenty-four (24) months from the date the Purchaser executes this Agreement (the "Completion Date"); subject, however, to delays caused by events which would support a recognizable contract defense under the laws of the State of Florida, such as impossibility of performance ("Delay(s)"). if, because of such Delays, the Seller is unable to substantially complete construction of the Home within two (2) years after Purchaser executes this Agreement, the date of completion of the Home shall be ‘extended by the period of such Delays. Itis the express intent of the parties that the transaction contemplated by this Agreement qualify for the exemption provided for under 15 U.S.C.§§1702(a)(2). The Home shall be considered ‘complete when it has been constructed in substantial conformance with Seller's plans and specifications as provided for in this Agreement. When applicable, the local municipality's final inspection and approval in the form of a Certificate of Occupancy or the appropriate goverment agency's approval (i.¢., FHA/VA), shall constitute uncontestable proof of completion. DITIOF QUT OF HO! Seller shall have no obligation to abide by Purchaser's request to make any changes from the standard plans and specifications for the Home. Changes requested after the Required Documentation has been received by Seller shall be submitted on a Change Order, which must be approved in writing by the Seller, which approval may be withheld by Seller in its sole and absolute discretion. Purchaser shall deposit the full amount due on the Change Order with Seller upon submission of said Change Order (the "Change Order Deposit”). Such amount shall be refunded if Seller does not approve the Change Order. In addition, as consideration for entering into any Change Order, Seller may require Purchaser to pay a non-refundable administrative fee in the ‘amount of FIVE HUNDRED AND NO/100 DOLLARS ($500.00) per Change Order entered into between the parties. Certain items displayed in the Seller's models, such as decorator items or material upgrades, and such items as extra fencing, special landscaping and any other items displayed for merchandising purposes, are not standard construction items and are not included in this Agreement. Seller does not and cannot promise or represent thal the Home will be identical to any model, representation, or artist sketch, unless identified in writing on the Decorator Selection Sheet of Upgrade/Option/Construction Change Addenda. Changes in government requirements, local Purchase Agreement Ptr Ue ROH-EMERALD-001983 - building codes, Purchaser preferences and in the. avalability of components and materials, may necessitate modifications to the Home. At all times, Seller will attempt to ensure that any modifications are equal to or better than represented. Seller reserves the right to make changes in the plans, specifications, materials, and components being used af the time of purchase. In the evént that any Option or Construction Change is not incorporated into the home, due to unavailability or any other reason, Purchaser shail only be entitled to a refund of any amounts paid for such Option or Construction Change. In no event shall failure te include such Option or Construction Change in the Home be grounds for lerminalion of this Agreement. Any and all Options or Upgrades or Construction Changes shall be submitted in writing as addenda to this Agreement. Purchaser agrees to pay cash for any and all optional features not reflected in the appraised value. Each Lot is unique in its size, shape and drainage characteristics. Purchaser understands and agrees that the size of the Lot; the exact location of sidewalks and driveways (if any); and the drainage pattems of the Lot will differ from the model home plans, drawings or renderings Purchaser has examined, and Seller reserves the right to determine the location and configuration of the Home upen the Lot subject to subdivision requirements. In the event that the type of Home desired by Purchaser will not fit on the Lot pursuant to subdivision requirements, Seller shall so notify Purchaser and this Agreement shall be terminated, the Deposit returned to Purchaser, and the parties shall be teleased-from all-further liability hereunder. v. ICECONSTRUCTION ACT! Purchaser has no right to enter or occupy the Home before Closing without Seller's written appioval. A construction site is a dangerous place and Purchaser is prohibited from entering the Home without written permission from a representative of Royal Oak Homes. If Purchaser receives permission, Purchaser must be accompanied by a representative of Royal Oak Homes. If Purchaser or Purchaser's dependents, quests, companions or invitees sustain any personal injury or cause any personal injury to third parties or cause property damage to the Home, or equipment thereon, with or without Sellers consent, Purchaser shall indemnity, defend and hold hanmless Seller, its agants and employees from any claims, loss, damage or expense arising from such personal injury of property damage, including attomeys' fees and Purchaser, for itself and its heirs, hereby waives and relinquishes any and all claims or causes of action against Seller or its employees or agents arising (rom personal injury or property damage sustained upon the Home. Prior to Closing, Purchaser shall not enter upon or within the Home and make any changes, additions or alterations in the construction of the Home including, but not limited to the installation or addition of any equipment, electrical wiring, materials, appliances, wall coverings or paint. Further, Purchaser shall give no direction to Seller's construction crew ‘or any subcontractor working on the Horie, and no commitments made by such crew member or subcontractor shall be binding upon Seller. Purchaser agrees not to interfere with, restrict, interrupt, harass or obstruct construction or its progress, physically, by nuisance or in any other manner, So doing shall constitute @ breach of this Agreement and a failure to perform on the parl.of Purchaser. Under such circumstances, at Seller's option, Seller shail be entitled to the remedies set forth in Section Vil herein. All owners, cccupants and users of the community are hereby placed on notice, and agree that (1) Seller and/or its agents, contractors, subcontractors, licensees and other designees, and/or (2) any other parties, from time to time, will be conducting excavation, construction and other activities within or in proximity to the community. By the ‘acceptance of the deed or other conveyance or mortgace, leasehold, license or other interest, and by using any portion of the community, each such awner, cccupant and user automatically acknowledges, ipulates and agrees (i) that none of the aforesaid activities shall be deemed nuisances or noxious or offensive activities, hereunder or at law generally, (il) not to enter upon, ‘or allow thaie children or other persons under their control af direction to enter upon (regardless of whether such entry Is trespass) any property within or in proximity to thé area where such activily is being conducted (even if not baing actively conducted at fre time of entry, such as al night or otherwise during non- working hours), (ii) Seller and the other aforesaid related parties shall have no liability for any losses, damages (compensatory, consequential, punilive of otherwise), injuries or deaths arising from or relating to the aforesaid activities, except resulting directly from Seller's gross.negligence or wilful misconduct, (iv} any purchase or use of any portion of the community has been and will be made with full knowledge of the foregaing and (v) this acknowledgment and agreement is 4 material inducement to Seller to sell, convey, and/or allow the use of the home. This Section V shall survive the Closing. vw LOSING, IOUNTS DUE. Si ND TITLEI NC! A “Closing” means the date upon which Purchaser pays all monies due and owing, and Seller conveys title and transfers physical possession of the Home to the Purchaser. Closing shall occur at a place selected by Seller. 8. Purchaser agrees to consummate this transaction within ten (10) business days after the receipt of notice (the “Closing Notice”) from Seller or its autharized agent, and shall take place only after the Issuance of a Certificate of Occupancy from the governing municipality. The Closing Notice will be sent or directed to the address specified-on tha first page of this Agreement unless Seller has received written notice from Purchaser of a change in address prior to the date the Closing Notice is given. An affidavit of one of Seller's employees or agents stating the Closing Notice was mailed or placed with a private express delivery system shall be presumed to establish that the Closing Notice was received, IF PURCHASER FAIL¢ TO CLOSE AS REQUIRED BY THIS PARAGRAPH, PURCHASER WILL BEIN DEFAULT OF THIS AGREEMENT. c. Seller, at its sole option and without waiver of any rights, may grant an extension of the Closing beyond the-ten (10) business day period. As consideration for extension, Purchaser shall pay a fee in the amount of ‘one hundred fifty dollars ($150) per day for each dayof the extension. In addition, Purchaser shall pay a fee in the amount of ane thousand dollars ($1,000) to compensate Seller for the additional administrative cost and expense of Tescheduling and extending the Closing. D. In addition to the Purchase Price and except as otherwise provided herein, the Purchaser shall pay the follwing amounts at Closing, the prorations of which may increase or decrease the balance of the funds that Purchaser will owe: Paces een Ge vie ROH-EMERALD-001984 1 All costs to obtain and close the mortgage loan and costs to close the transaction (the "Closing Costs"). The Closing Costs shall include, but no! be limited to attorneys’ fees, owner's {itle insurance fees {including title search, title evaluation, policy preparation and tile insurance premium(s)), mortgagee's title insurance, private mortgage insurance, other insurance, mortgage ttle endorsements, taxes, surtax, recording fees, discount points, and mortgage fees and costs, prepaid escrows, appraisal fees, intangible taxes and survey charges. 2 Pending liens for public improverrents not certified as complete as of the Effective Date of this Agreement. 3. Amounts related to the Homeowner's Association, including without limitation the initial fee and prorated annual assessments for the year of Closing, if any, and additional costs related to the Home that any governmental authority may impose. 4. Real property taxes and any other assessments against the Home and any other expense applicable to the Home prorated as of the date of Closing. If the actual real estate tax bill is nat available at the time of Closing, real estate tax prorations will be based upon Seller's late of what the tax bill will be. If Closing occurs in a year in which taxes are assessed on the Homeowner Association's Property or on a Building or Buildings within the Homeowners’ Association rather than on a home by home basis, Purchaser shall pay to Seller, at Closing, Seller’s estimate of Purchaser's prorata share of property taxes, ard Seller shall pay the taxes for the year. Either party shall be entitled to have the prorations readjusted by notifying the other party in waiting if the actual bill is different from Seller's estimate, Within thirty (30) days after readjustment, whichever party owes money to the other will make the required payinent, 5. Any utility connection fees or deposits, including security service, if applicable, that Seller may have paid prior to Closing to provide such service to the Home, Prior to Closing, Purchaser shall coordiriaté with all utility and service providers ta: transfer and/or initiate al necessary utility services to the Home as of the date of Closing. Seller shall have no obligation to pay for or provide utllty services to the Home at any point from and atter Closing. 6, ‘The cost df the documentary stam> tax and costs to record the deed. 7. Customary Closing costs of a Purchaser, including but not fimited ta items such as loan fees, Joan closing costs and other related costs, atlomeys' fees, 2scrows for taxes and insurance, prepard items required by the lender, recording fees, dacumentary stamp taxes on tha Promissory Note, Intangible , Credit Reports, Survey and Private Mortgage Insurance, if applicable. 8: Any penalties, late fees or other Closing charges pursuant to this Agreement. In the event that Purchaser finay the purchase of the Property with a mortgage loan from the Preferred Lender, Seller agrees to pay tee us de towards Purchaser's Closing Coils at Closing, Purchaser's Initials. E. At Closing, or upon Purchaser's request, fve days prior to Closing, Seller shall detiver to Purchaser, al the cost of Purchaser as set forth in Subparagraph (f) below, a tile insurance commitment from a Fidrida licensed insurer in the amountof the purchase price, showing insurable fee simple title in the Seller, subject ta the standard printed exceptions found in the standard ALTA policies, zoning and/or restrictions. and prohiaitions imposed by govémmichtal authority(ies), recorded covenants and restictions appearing of record or on the pist of the’ Property, easements of record, taxes for the year of Closing, and other matters described. in this Agreement, including all Addenda attached hereto (the "Permitted Exceptions”), and agreeing to issue Purchaser a title insurance policy after recordation of the Deed and other requisite instruments. {the fitle commitment contains an exception other than the Permitted Exceptions, Closing shal) be extended for up 10 thirty (30) business days to enable Seller to cure such defect in the title. Itafter diligent effort, Seller is not able lo cure such title dafect within thirty (30) business days from the date of ristice of such defect, this Agreement: shall terminate and the Total Eamest Money Deposit shall be retumed fo Purchaser as Purchaser's sole and only remecy in such event. If Purchaser falls ta close this transaction within the later time period, such fallure shall be a default ty Purchaser hereunder: F. Pursuant to the Real Estate Settlement Procedures Act of 1974, Purchaser acknowledges that Seller has not required, directly or indirectly, as a condition of sale that Purchaser purchase either a fee owner or mortgagee's titte insurance policy from any particular title company. Purchaser may élect to obtain such Insurance from a company of Purchaser's choice and Purchaser will pay, at Closing, the title Insurance premium for such policy. 6. Seller shall furnish to Purchaser no later than Closing, a Termite Soil or Wood Applied Liquid Treatment Guarantee and a Subterranean Termite Contract issued by a locally licensed exterminator. Purchaser shall, from and after the Closing, maintain a termite treatment program at its so!e cost.and expense. This covenant shall expressly survive the Closing. Vil. DEFAULT A. Pe i Ct If Purchasar fails to perform ary of the covenants of this Agreement within the time spect. a failure to payy the Secord Eamest Monay Deposit, the Purchaser will be deemed to be in default hereunder. In such event, the Initial Deposit, the Second Earnest Money Deposit, any Additional Deposit