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ss 5. EXTENSfON�F CLpSING DATE:
<br /> sa (a} If Paragraph S(b)is checked and Closing funds from Buyer's lender(s)are not available on Closing Date due
<br /> 55 to Consumer Financ[al Protection Bureau Closing Disclosure delivery requirements ('CFPB Requ9rements°),
<br /> 5s then Closing Date shali be extended for such perlod necessary to satisfy CFPB Requirements, provided such
<br /> 57 period shall not exceed 10 days. -
<br /> se (b) If an event constituting"Force Majeure"causes services essential for Closing to be unavailable,including the
<br /> 5s unavailability of utilifies or issuance of hazard, wind, flood or homeowners' insurance, Closing Date shall be
<br /> eo extended as provided in STANDARD G.
<br /> s� fi. OCCUPANCY AND POSSESSION:
<br /> ez (a) Unless the box in Paragraph 6(b)is checked,Seller shall,at Closing,deliver occupancy and possession of the
<br /> s3 Property to Buyer free af tenants, occupants and future tenancies.Also, at Closing,Seller shall have removed
<br /> 84 alE personal items and trash from the Property and shall deliver all lceys,garage door openers,access devices
<br /> 65 and codes, as appl9cable,to Buyer.li occupancy is to be defivered before Closing, Buyer assumes all risks of
<br /> ss loss to the Property from date of occupancy, shall be responsible and Ilable for maintenance from thaE date,
<br /> 87 and shall be deemed to have accepted the Property in its existing condition as of time of taking occupancy.
<br /> se• (b) ❑ CH�CK IF PROPERTY IS SUBdECT TO LEASE{S)OR OCCUPANCY AFTER CLOSING. If Property is
<br /> 69 subject to a lease(s)after Closing or is Intended to be rented or occupfed by third parties beyond Closing,the
<br /> �o facts and terms thereof shall be disclosed in writing by Seller to Buyer and copies of the wriiten lease(s)shall
<br /> �� be delivered to Buyer,all within 5 days after Effective Date. If Buyerdetermines, in Buyer's sols discretivn,that
<br /> �Z the[ease(s)or terms of occupancy are not acceptable to Buyer, Buyer rriay terminate this Contract by delivery
<br /> 73 of written notice of such election to Seller within 5 days after receipt oi the above items from Seller,and Buyer
<br /> 74 shall be refunded the Deposit thereby reieasing Buyer and Se11er from all further obligations under this Contract.
<br /> 75 Estoppel l.etter(s}and Sellers affidavit sha11 be provided pursuant to STANDARD D. If Property is intended to
<br /> �s be occupiad by Seller after Closing,see Rider U. POST-CL051NG OCCUPANCY BY SELLER.
<br /> »� 7. ASSIGNABILI'i'Y: (CHECK ONE): Buyer �may assign and thereby be released from any further liability under
<br /> �a• this Contract; ❑may assign but not be releasad from liability under this Contract; or ❑x may not assign this
<br /> �y Contract.
<br /> � FINANCING
<br /> a� 8. FINANCING:
<br /> az� ❑ (a)Buyer will pay cash for the purchase of the Property at Closing.There is no finencing contingency to Buyer's
<br /> � obligation to close. 1f Buyer obtains a loan for any part of the Purchase Price of the Property,Buyer acknowledges
<br /> � that any terms and conditions imposed by Suyer's lender(s)or by CFPB Requirements shall not affect or extend
<br /> 85 the Buyer's obligation to close or otherwise affect any terms or conditions of this Contract.
<br /> es• � (b) This Contract is contingent upon Suyer obtaining approval of a[�conventionalO�HA❑VA or[Jother
<br /> a�• {describe)loan within 21 (if left blank, then 30)days after Effective Date(Loan Approva!
<br /> ee• Period")for(CHECK ONE);(]fixed,�adjustable,�fixed or adjustable rate in the Loan Amount(See Paragraph
<br /> ss• 2(c)), af an initial interesf rate not to exceed % (if left blank, then prevailing rate based upon Buyer's
<br /> so• creditworthiness),and for a term of (if left blank,then 30)years("Financing").
<br /> s�• (i) Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days
<br /> az after Effective Date and use good faith and diligent effort to obtain approval of a Ioan meeting the Financing terms '
<br /> sa ("Loan Approval")and thereafter to close this Contract. Loan Approval which requires a cond�tion related to Ihe sale i
<br /> sa by Buyer of other property shall not be deemed Loan Approval for pu�poses of this subparagraph. li
<br /> 95 Buye�'s failure to use dlllgent effort to obtain Loan Approval during the Loan Approval Period shall be considered a
<br /> ss default under the terms af thls Contract. For purposes of this provision,"diligent effort"includes, but is not Ilmited
<br /> s� to, timely furnishing all documents and information and paying of all fees and charges requested by Buyer's
<br /> ss mortgage broker and lender in connection wifh Buyer's mortgage loan application.
<br /> ag {ii) Buyer shall keep Seller and Broker fully informed about the status of Buyer's mortgage loan application,
<br /> �oo Loan Approval, and loan processing and auihorizes Buyer's mortgage brofcer, lender,and Closing Agent to disclose
<br /> �o� such status and progress, and release preliminary end �nally executed closing disclosures and settlement
<br /> �oz statements,to Seller and Broker.
<br /> �os (lii)Upon Buyer obtaining Loan Approval,Buyer shall promptly dellverwritten notice of such approval to Seller.
<br /> �na (iv) If Buyer is unabfe to obtain Loan Approvai after ihe exercise of diligent effort, then at any time prior to
<br /> �os expiration of the Loan Approval Period, Buyer may provide written notice to Seller stating that Buyer has been
<br /> �os unable to obtain Loan Approval and has elected to either:
<br /> io� (1)waive Loan Approval,in which event this Contract will continue as if Loan Approval haci bean obtained;or
<br /> �os (2)terminate this Contract.
<br /> Buyer's InlGals L�l Page 2 oi 12 Seller's Initial��,
<br /> FlorldaRealtorslFloridaBar-ASIS-5 Rev.4117�2017 Florida Reattors�and The Florida Bar. All rights reserved.
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