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STANDARDS FOR REAL ESTATE TRANSACTIONS("STANDARDS")GONTINUED ass cost to complete restoration (not to exceed 1.5%ot Purchase Price}will ba escrowed at Closing. If actual cost of as� restoration exceeds escrowed amount,Seller shall pay such actual costs (but, nat in excess of 1.5%of Purchase ase Price}.Any unused portion of escrowed amount shall be returned to Seller. (f cost of restoration exceeds 1.5%of ass Purchase Price, Buyer shall elect to either take Properly"as is"together with the 1.5%, or receive a refund of the soo Deposit there6y releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation �o� with respect to tree damage by casualty or other natural occurrence shall be cost of pruning or removal. so2 N. 1039 EXCHANGE: If either Seller or Buyer wish to enter into a like-kind exchange(either simuEtaneously with sos Closing or deferred}under Section 1031 of the Internal Revenue Code("Exchange"),the other parky shall cooperate soa in all reasonable respects to effectuate the Exchange, including execution of documents; provided, however, 5os cooperating party shall lncur no liability or expense related to the Exchange, and Closing shall not be contingent sos upon, nor extended or delayed by,such Exchange. so7 O. CONTRACT NOT RECORDABLE; P�RSONS BOUND; NOTICE; DELIVERY; COPIES; CONTRACT sae EXECUTION: Neither this Contract nor any notice of it shall be recorded in any public records.This Contract shall sos be binding on,and inure to fhe benefit of,the parties and their respective heirs or successars in interest.Whenever s�o the context permits, singular shall inciude plural and one gender shall include all. Notice and delivery given by or io 511 the attorney or broker(including such broker's real estate licensee)representing any party shall be as effective as s12 if given by or to that party.All notices must be in writing and may be made by mail, petsonal delivery or efectronic 513 (including"pdf')media.A facsimile or efectronic(including "pdf')copy of this Contract and any signatures hereon 51a shall be considered for all purposes as an original.This Contract may be executed by use of electronic signatures, 515 as determined by Florida's Electronic Signature Act and other applicable laws. s�s P. INTEGRATION; MODIFICATION:This Contract contalns the full and comple#e understanding and agreement s�7 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or s�e representations shall be bfnding upon Buyer or Seller unless included in this Contract.No modiHcation to or change sis in th9s Contract shall be valid or binding upon Buyer or Seller unless in writing and executed by the parties intended s2o to be bound by it. 521 Q. WAIVER: Failure of Buyer or Seller to insist on compliance with, or strict performance of,any provision of this szz Contract,or to take advantage of any right under fhis Contract,shall not constitute a waiver of other provisions or sza rights. sza R. RIDERS;ADDENDA;TYPEWRITTEN OR HANDWRITTEN PROVISIONS: Riders,addenda, and typewritten 525 or handwritten provisions shall control all printed provisions of this Contract in conflict with them. szs S. COLLECTION or COLLECTED: "COLLECTION" or "COLLECTED" means any checks tendered or sz� received, including Deposlts, have become actually and finally collected and deposited in the account of eza Escrow Agent or Ctosing Agent. Closing and dlsbursement of funds and dellvery of closing documents sze may be delayed by Ctosing Agent until such amounts have been COLLECTED In Closing Agent's accounts. sso T. RESERVED. ss� U. APPLICABI.E LAW AND VENUE:This Contract shall be construed in accordance with the laws of the State s32 of Florida and venue for resolution of all disputes, whether by mediation, arbitration or litigation, shall iie in the 533 county where the Real Property is located. saa V. FIRPTA TAX WITHHOLDING: If a seller of U.S. reaf property is a "foreign person" as defined by FIRPTA, sas Sectian 1445 of the Internal Revenue Code("Code") requires the buyer of the real property to withhold up to 15% sss of the amount reallzed by the seller on the transfer and remit the withheld amount to the Internal Revenue Service 537 (IRS)unless an exemption to fhe required withholding applies or the seller has obtained a Withholding Certificate 538 from the IRS authorizing a reduced amount of wlthholding. sas (i) No withholding is required under Section 1445 of the Code if the Seller is not a foreign person . Sefler can s4a provide proof of non-foreign sfatus to Buyer by delivery of written csrtification signed under penalties of perjury, 541 stating that Seller is not a foreign person and containing Sellar's name, U.S. taxpayer identification number and saz home address(or office address,in the case of an entity),as provided for in 26 CFR 1.1G45-2(b).Otherwlse, Buyer 5as shall withhold the applicable percentage of the amount realized by Seller on the transfer and timely remit said funds saa to the IRS. 545 (ii) If Seller is a foreign person and has received a Withholding Certificale from the lRS which provides for reduced s4s o�eliminated withholding in this transaction and provides same to Buyer by Closing,then Buyer shall withhold the 5a� reduced sum required, if any,and timely remit said funds to the IRS. 5na (iii) If prior to Closing Seller has submitted a completed appllcation to the IRS for a Withholding Certificate and has sas provided to Buyer the notice required by 26 CFR 1.1445-1(c} (2)(I)(B) but no Withholding Certificate has been sso received as of Closing, Buyer shall,at Closing,withhofd the appllcable percentage of the amount realized by Seller ss� on the transfer and,at Buyer's option,either(a)timely remit the withheld funds to the IRS or{b)place the funds in 5sz escrow, at Seller's expense, with an escrow agent selected by Buyer and pursuant to terms negotiated by the 8uyer's Initfals Ll�--- Page 70 of'i2 Seller"s Inilials�_____ FloridaftealtorslFloridaBar-ASIS-5 Rev,4117 0 2017 Florida Realtorsa and The Florida Bar. 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