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15.FAILURE Tp CL.05E LOAN AND TRANSACTION: In the event Buyer(s)shall be approved for said loan and Buyer{s)shaU fail or
<br /> refiase to ciose thEs transaction by executing the mortgage docaments,pay#he balance due,and ciose Const�uction/Perm Ioan within
<br /> 15 days of unconditianal toan cammltment or 10 days c�f Certificaie of Occupancy on an End Loan alas'rng, or if 8uyer(s) shall
<br /> othervuise defaul#hereunder,the earnest rooney depasit paid by the Buye�(s)aforesaid may be retained by or fo�ihe accoun!of Seller
<br /> as iiquidated damages, consideration for the execution of this Purchase and Sates Agreement and in lull settlement of any claims;
<br /> whereupon at!parties shall be refieved af all obligations under the Purchase and Sates Agreement;or Seller,at his aption,may seek
<br /> speci�rc perfQrmance or darn�qes against ths Buyer. Faitu�e to modiiy a Constructien!Perm I�an within 14 dAys of the Cecti�cate of
<br /> Occupancy wilt result in the Se11er placing liens on the property.The Buyer acknowledges that i�8eller requires 8uyer to pay for e�as
<br /> ordered 6y Buyer prior to clasing,the#unds paid by Buyer to Seller for the extras sha{I be deemed for atl purpases hereunder as
<br /> Additional Eamest Money D�posit and in the event af def�ult ihese arrtounts st�all be retair�ed by&etler as Ifquidated damages.
<br /> 16.SELi,ER'S OBLtGAT10N TQ CLOSE:At the time of#his contract,the lot is owned by the Developer and the lot may be
<br /> e�cumbered by a mortgage given by the Devetoper.Selle►'s obligation fo ciose with 8uyer{s}under th'ss corrtract is con#ingent upon
<br /> Developer convaying title to Seller free and clsar of the e�sting mortgage.if#he developer is u�able to convey good titte to Se11er,thsn
<br /> the ob(iga�ons of both Buyer(s)and Seller hereunder shall terminate.!f the Developer is able to convey marketable title to the Selter,
<br /> then the Selte�sha(1,a#clasing,deliver a good and suffittient Special Warraniy Deed to 8uyer(s}conveying marketabte title iree and
<br /> cfear of encumbrances and exceptians,other than the usua!and ardinary excepilons to future taxes,coverrants,restrict�ons,and ud�ity
<br /> easements appearing of record.Se(ler wil�determine the closing agent
<br /> 17. If at ihe time of execution o#the cantract by the Buyer,ca�sstruct'son of tt►e hame an the Int has not been campteted,then Selter
<br /> agrees ihat Sel{er is hereby obligated.to construct and complete the home not later than t2)years�rom the date of execu�on of this
<br /> cantract by Buyer. tn the event of a defautt by the Seller under the terms of this paragraph, Buyer shall be entitled to all remedies
<br /> p�ovided by the faw.
<br /> y8.ARBITRATION: Any cantroversy, claim ar dispute arising out af or relating to#his Agreement or Buyer's purchase of the Home
<br /> (other tharr the c(aims under the Lirnited Warranry} shali be setded by arbitraUon in accord�nce with ihe Construction Industry
<br /> ArbiUation Rules of the Amedcan Arbitration Assaaation{°AAA")and#he Federa3 Arbitration Act{f'dle 9 af the United Stated Cade)
<br /> and the judgment rendered by the arbitrator(s�may be confirmed,entered,and enforced'sn any court having JurisdicttQn.As a a�nditior►
<br /> precedent to arbitration,the dlspu#e shall first be mediated in accordance with the Construction Industry Mediation Rules of the AAA,
<br /> ar such other mediatian service sefected by the US Ciaims under the I..imited iiome Warranty shail be arbitrated in accordance with
<br /> the arbidration provision set forih in ihe Liirt�ted Home War�aniy.
<br /> 19.SUBSTiTl3T10NSNARIATtt}NS: Seiler reserves the right to make changes to the Hpme and/or to rnake deviatians from its plans
<br /> or spec'sficatians,color selec�ians and appiiances as became necessary in Seller's sale apinian by site,job as govemmental condifions
<br /> or availablllty of materials so(ong as Seller uses materials of equal or greater quality and 'appearance. Deterrnination af equivalency
<br /> wiil be in Seller's sole opinion. 8uyer(s}understand that a11 furniture, decorator items, special landscaping,and othe�assurances or
<br /> wa�artties as to the Hame Buyer(s}are purchasing are not a part of this Agreement. Buyer{sj understands that the coior of fixtures,
<br /> carpeting, paint, tils, Parmlca, eic. can vary irom shipr�ent#o shipment ar�d that Seller cannat be held sespansibfe for any color
<br /> variatians from the sample.
<br /> 20. RADCIN GAS NUTEFICATtON: In accordance wlth Seettan 404.056(8} of the Ftorida Statutes, Buyer{s)acknowtedges receipt of
<br /> the fallowing notice: RADON GAS: #�adon is a naturally occurdng radiosctiue gas that, wt►en ii has accumufated in a buitding in
<br /> sufficient quan�pes, may present health risks to parsons wha are exposed to!t over time. Levels of Radon that exceed federal anti
<br /> state guidelines have been faund in buildittgs in Ftorida. Additfonal infarmation regarding Radon and�iadon testing may be abtatned
<br /> from the County PubEic Healih Unit.
<br /> 2i.ENTRY ON THE PROPERTY:Buye�(s}must have Seller's permission to enter the Home prior to the Closing if the loan is an End
<br /> Loan,ar ihe modificatian,if the loan is a Construction/Perm ioan. Buyer{s}understands that#he construction site couid ba dangerous
<br /> and agrees that Buye�(s) will ba respansible for any damage to persons or property causad by or related ia entry of the lioma by
<br /> Buyer(s) ar their famiiy membeirs or guests p�ior to CEosing and Buyer(s} will hold Seller harmless and indemnity Seller fram such
<br /> dar»ages. Buyer(s}w�tt not make any additions or changes to the Name prior to Ctosing. TFitS 1NDEMNITY(S GiVEIV TO BELLER
<br /> REGARDLESS OF WHETNER THE SEL�ER, 1`CS AGENTS OR EMPLOYEES ARE N�Gl.IGER#T IN VtlN�LE OR tN PART, AND
<br /> EVEN WHEN THE INJt1RY, DEATH AND/OR DAMAGE IS CAUSED BY THE SOLE NEGLIGENCE OF SELLEq, ITS AGENTS OR
<br /> EMPLOYEES.
<br /> 22.lNTERFERENCE. Prlor to the delivery of possessinn of 2he hlome to Buyer(s}trom Seller,which delivery sha!!be ai Ciosing if the
<br /> loan is an End Loan or which delivery shall be at modiffcation i#the loan is a Construction/Perm laan,Buyer(s)shalt not enter upon
<br /> the Rropert}r and make any ahanges,addifions or atterations in the construction of the home inciuding but not limited ta#he installatton
<br /> or addiUon of any equipment, elecfica!wiring, ma#erials, appliances,wall coverings or paint. 8uyer{s) agrees not to in#erfere witty,
<br /> restrict, interrupt, harass or obst�uat construction or its progress, physlcalty, by nuisance or in any ather manner. So doing shall
<br /> constitute e breach af this Agreement and a failure to perform on the part of the Buyer(s). Under such circumstances,Seller shall be
<br /> entftled to aH remedies pravided under the law,
<br /> 23.ASSIGNMEMT: This Purchase and Sales Agreement is not assignable by the Buyer(s).
<br /> 24.CC?NSTFtUCTEON:On a Construction/Perrn loan,ihe 8uyer(s}agrees that in connection witft a Ganstruc�on/Perm ioan that the
<br /> final draw shall be due and payable at modification and Buyer{s) turther egrees that modificatian shaN acour not later than 1a days
<br /> after the issu�nce of a CerUficete of OCCUpancy. If 8uyer(s)fiails,for any reason,to modiiy wfthin 10 days of issuance of the Ceriificate
<br /> of Occupancy,ihen Suyer(s)shai(be responsible for payrnent to Se31er,in edd�ion to payment of any remaining draws,for liquidated
<br /> damages caused by the delay in modification far a sum equa!to$70 fvr each day after the scheduled daie for modi8catian. Buyer(s}
<br /> further acknawtedges that there may be a punch list for unfinished items at the time of modification and comple6on of the items
<br /> ident�ied orz the punch iis#is not required prior fo modification and shal! nof excuse BuyePs obtigation to modify the Constructian/
<br /> Perm Lo�n.
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<br /> � (''��� CNent ID:A36486
<br /> CGC058580 ver.e/i 1 BUY�R(S)INITIALS � ��L r �,_ Page 3 of 8 �any
<br /> Casamasstma and Amada Navas I 36304 Deita Goid Ct. B85@
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