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169 (v) If Buyer faiis to timely deliver either n�tice pravided in Paragraph 8(b)(iii) or(iv), above, to Seller prior to a�o expirafion of the Loan Approval Period,then Loan Approval shall be deemed waived, fn which event this Contract ��T will continue as if Loan Approval had been obtained, provided however,Seller may elect to terminate this Contract ��z by delivering written notice to Buyer within 3 days after expirafion of the Loan Approval Period. ��s (vi} !f this Contract is timely terminated as provided by Paragraph 8(b)(iv)(2)or(v), above, and Buyer is not in 114 default under the terms of this Contract, Buyer shall be refunded the Deposit thereby releasing Buyer and Seller 175 from all fu�ther obligations under this Contract. ��s {vii) If Loan Approval has been obtained, or deemed to have been obtained, as provided above, and Buyer ��r fails to close this Contract, then the Deposit shall be paid to Seller unless failure to close is due to: (1} Seller's ��s default or inability to satisfy other contingencies of this Contract;{2)Properly related conditions of the Loan Approval 119 have not been met(except when such conditions are waived by other provisions of this Contract); or(3) appraisal �so of the Property obtained by Buyer's lender is insufficient to meet terms of the Loan Approvaf, in which event(s)the �z1 Buyer sha11 be refunded the Deposif, thereby releasing Buyer and Seller from all further obligations under this �zz Contract. 123* ❑(c)Assumption of existing mortgage(see rider for terms). �2a* ❑(d) Purchase money note and mortgage to Seller(see riders; addenda;or special clauses for tarms). �2s CLOSING COSTS,FEES AND CHARGES �ze 9. CLOSING COSTS;TITLE INSURANCE;SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: ar� (a) COSTS TO BE PAID BY SELLER: ,ze •Documentary stamp taxes and surtax an deed, if any •HOA/Condominium Association estoppel fees �sa •Owner's Poficy and Charges (if Paragraph 9(c)(i) is checked) •Recording and other fees needed to cure titfe �ao •Title search charges(if Paragraph 8(c)(iii) is checked) •Sellers attorneys'fees 131* •Municipal lien search(if Paragraph 9(c)(i}or(iif)Is checked) •Other: �sa If, prior to Closing, Seller is unable to meet the AS I5 Maintenance Requirement as required by Paragraph 11 133 a sum equal to 125% of estimated costs to meet the AS IS Maintenance Requirement shall be escrowed at i3a Closing.If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amaunt,Seller shall pay �� such actual costs.Any unused portion of escrowed amount(s)shall be returned to Seller. � �as (b) COSTS TO SE PAID BY BUYER: �a� •Taxes and recording fees on notes and mortgages •Loan expenses 138 •Recording fees for deed and financing statements •Appraisal fees 139 •Owner's Policy and Charges{if Paragraph 9(c)(ii) is checked) •Buyer's Inspections aao •Suroey(and elevation certification, ff required) �guyer's attorneys'fees 141 • Lender's title policy and endorsements •All property related insurance �a2 • HOA1Condominium Association application/transfer fees •Owne�'s Policy Premium (if Paragraph ��3 •Municipal lien search{if Paragraph 9(c)(ii) is checked) S(c)(iii)is checked.) � �aa y •Other: �as� (c} TETLE EVIDENCE AND INSURANCE:At least (if left blank, then 15, or if Paragraph e(a}is checked, ' �as then 5)days prior to Closing Date("Title Evidence Deadline"),a title insurance commitment issued by a Florida 147 licensed title insurer, with iegible copies of instruments listed as exceptions at#ached thereto {"Title iae CommitmenY) and, after Closing, an owner's policy of title insurance {see STANDARD A for terms) shall be ' �ae obtained and delivered to Buyer. If Seller has an ownePs policy of title insurance covering the f2eal Properky, a iso copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date.The owner's title policy is� premium, title search and closing services (collectively, "Owner's Policy and Charges"} shall be paid, as set �s2 forth below.The title insurance premium charges for the owner's policy and any lender's policy will.be calculated ,5s and allocated in accordance with Florida law, but may be reported differently on certain federally mandated 154 closing d'Isclosures and other clo5ing dacuments. For purposes of this Contracf"municipal lien search"means a �ss search of records necessary for the owner's policy of title insurance to be issued without exception for unrecorded ' r 59 0 70 in f v r of an ovemmental bod authori or a enc . �ss liens imposed pursuant to Chapte s 7 r'I ,F.S., a o y g y, ty g y �s� (CHECK ONE): �sa* ❑(i) Seller shall designate Cfosing Agent and pay for Owner's Policy and Charges, and Buyer shafl pay the �ss premium for l3uyer's lender's policy and charges for closing services related to the lender's poficy, �so endorsements and loan clasing, which amounts shall be paid by Buyer to Closing Agent or such other �s� pravider(s)as Buyer may select; or ,sz* �{ii) Buyer shall designate C[osing Agent and pay for Owner's Policy and Charges and charges for closing 163 services related to Buyers lender's policy, endorsements and Ioan closing; or .� � Buyers Initials'�/l'/ Page 3 of 72 Sellers lnitl fs�_ - FloridaRealtars orida8ar-ASIS-5 Rev.4/17 0 20i7 Florida Realtors�and The Florlda Bar. 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