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15. FAILURE TO CLOSE LOAN AND TRANSACTION: In the event Buyer(s) shall be approved for said loan and Buyer(s) shall fail or
<br />refuse to close this transaction by executing the mortgage documents, pay the balance due, and close Construction / Perm loan within
<br />15 days of unconditional loan commitment or 10 days of Certificate of Occupancy on an End Loan closing, or if Buyer(s) shall
<br />otherwise default hereunder, the earnest money deposit pald by the Buyer(s) aforesaid may be retained by or for the account of Seller
<br />as liquidated damages, consideration for the execution of this Purchase and Sales Agreement and in full settlement of any claims;
<br />whereupon all parties shall be relieved of all obligations under the Purchase and Sales Agreement; or Seller, at his option, may seek
<br />specific performance or damages against the Buyer. Failure to modify a Construction / Perm loan within 10 days of the Certificate of
<br />Occupancy will result in the Seller placing liens on the property. The Buyer acknowledges that if Seller requires Buyer to pay for extras
<br />ordered by Buyer prior to clsoing, the funds paid by Buyer to Seller for the extras shall be deemed for all purposes hereunder as
<br />Additional Earnest Money Deposit and in the event of default these amounts shall be retained by Seller as liquidated damages.
<br />16. SELLER'S OBLIGATION TO CLOSE: At the time of this contract, the lot is owned by the Developer and the lot maybe
<br />encumbered by a mortgage given by the Developer. Seller's obligation to close with Buyer(s) under this contract is contingent upon
<br />Developer conveying title to Seller free and clear of the existing mortgage. If the developer is unable to convey good title to Seller, then
<br />the obligations of both Buyer(s) and Seller hereunder shall terminate. If the Developer is able to convey marketable title to the Seller,
<br />then the Seller shall, at closing, deliver a good and sufficient Special Warranty Deed to Buyer(s) conveying marketable title free and
<br />clear of encumbrances and exceptions, other than the usual and ordinary exceptions to future taxes, covenants, restrictions, and utility
<br />easements appearing of record. Seller will determine the closing agent.
<br />17. If at the time of execution of the contract by the Buyer, construction of the home on the lot has not been completed, then Seller
<br />agrees that Seller is hereby obligated to construct and complete the home not later than (2) years from the date of execution of this
<br />contract by Buyer. In the event of a default by the Seller under the terms of this paragraph, Buyer shall be entitled to all remedies
<br />provided by the law.
<br />18. ARBITRATION: Any controversy, claim or dispute arising out of or relating to this Agreement or Buyer's purchase of the Home
<br />(other than the claims under the Limited Warranty) shall be settled by arbitration in accordance with the Construction Industry
<br />Arbitration Rules of the American Arbitration Association ("AAA") and the Federal Arbitration Act (Title 9 of the United Stated Code)
<br />and the judgment rendered by the arbitrator(s) may be confirmed, entered, and enforced in any court having jurisdiction. As a condition
<br />precedent to arbitration, the dispute shall first be mediated in accordance with the Construction Industry Mediation Rules of the AAA,
<br />or such other mediation service selected by the US Claims under the Limited Home Warranty shall be arbitrated in accordance with
<br />the arbitration provision set forth in the Limited Home Warranty.
<br />19. SUBSTITUTIONS/VARIATIONS: Seller reserves the right to make changes to the Home and/or to make deviations from its plans
<br />or specifications, color selections and appliances as become necessary in Seller's sole opinion by site, job or governmental conditions
<br />or availability of materials so long as Seller uses materials of equal or greater quality and appearance. Determination of equivalency
<br />will be in Seller's sole opinion. Buyer(s) understand that all furniture, decorator items, special landscaping, and other assurances or
<br />warranties as to the Home Buyer(s) are purchasing are not a part of this Agreement. Buyer(s) understands that the color of fixtures,
<br />carpeting, paint, tile, Formica, etc. can vary from shipment to shipment and that Seller cannot be held responsible for any color
<br />variations from the sample.
<br />20. RADON GAS NOTIFICATION: In accordance with Section 404.056(8) of the Florida Statutes, Buyer(s) acknowledges receipt of
<br />the following notice: RADON GAS: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in
<br />sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of Radon that exceed federal and
<br />state guidelines have been found in buildings in Florida. Additional information regarding Radon and Radon testing may be obtained
<br />from the County Public Health Unit.
<br />21. ENTRY ON THE PROPERTY: Buyer(s) must have Seller's permission to enter the Home prior to the Closing if the loan is an End
<br />Loan, or the modification, if the loan is a Construction / Perm loan. Buyer(s) understands that the construction site could be dangerous
<br />and agrees that Buyer(s) will be responsible for any damage to persons or property caused by or related to entry of the Home by
<br />Buyer(s) or their. family members or guests prior to Closing and Buyer(s) will hold Seller harmless and indemnify Seiler from such
<br />damages. Buyer(s) will not make any additions or changes to the Home prior to Closing. THIS INDEMNITY IS GIVEN TO SELLER
<br />REGARDLESS OF WHETHER THE SELLER, ITS AGENTS OR EMPLOYEES ARE NEGLIGENT IN WHOLE OR IN PART, AND
<br />EVEN WHEN THE INJURY, DEATH AND/OR DAMAGE IS CAUSED BY THE SOLE NEGLIGENCE OF SELLER, ITS AGENTS OR
<br />EMPLOYEES.
<br />22. INTERFERENCE: Prior to the delivery of possession of the Home to Buyer(s) from Seller, which delivery shall be at Closing if the
<br />loan is an End Loan or which delivery shall be at modification if the loan is a Construction / Perm loan, Buyer(s) shall not enter upon
<br />the Property and make any changes, additions or alterations in the construction of the home including but not limited to the installation
<br />or addition of any equipment, electrical wiring, materials, appliances, wall coverings or paint Buyer(s) agrees not to interfere with,
<br />restrict, interrupt, harass or obstruct construction or its progress, physically, by nuisance or in any other manner. So doing shall
<br />constitute a breach of this Agreement and a failure to perform on the part of the Buyer(s). Under such circumstances, Seller shall be
<br />entitled to all remedies provided under the law.
<br />23. ASSIGNMENT: This Purchase and Sales Agreement is not assignable by the Buyer(s).
<br />24. CONSTRUCTION: On a Construction / Perm loan, the Buyer(s) agrees that in connection with a Construction / Perm loan that the
<br />final draw shall be due and payable at modification and Buyer(s) further agrees that modification shall occur not later than 10 days
<br />after the issuance of a Certificate of Occupancy. If Buyer(s) fails, for any reason, to modify within 10 days of issuance of the Certificate
<br />of Occupancy, then Buyer(s) shall be responsible for payment to Seller, in addition to payment of any remaining draws, for liquidated
<br />damages caused by the delay in modification for a sum equal to $70 for each day after the scheduled date for modification. Buyer(s)
<br />further acknowledges that there may be a punch list for unfinished items at the time of modification and completion of the items
<br />identified on the punch list is not required prior to modification and shall not excuse Buyer's obligation to modify the Construction /
<br />Perm Loan.
<br />CGC058580 ver. a/11 BUYER(S) INITIALS'
<br />Raymond L. Givhan Jr. and Victoria Givhan / 36134 Shady Bluff Lp Base
<br />Client ID: A33940
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