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<br /> 15.FAILURE TO CLOSE LOAN AND TRANSAC710N: In the ev nt Buyer(s)shall be approved for sald loan and Buyer(s)shall fail or
<br /> refuse ta dose this Vansactlon by executlng the mortgage docum nts,pay the belance due,and close Construdion/Perm loan within
<br /> 15 days of uncond�lonal loan commitment or 10 days of Ce ' cate of Occupency on an End Loan closing, or 'rf Buyer(s) shell
<br /> otherwise default hereunder,the eamest money depasft paid by e euyer(s)aforesald may be reteined by or for the account of Seller
<br /> as Ilqufdated damages,consideraUon for the execution of this P rchase and Sales Agreemerri and in tuil settlement of any claims;
<br /> whereupon ell perties shall be relieved of all obligations under th Purchase and Sales Agreemenk or Se11er,et hls option,may seek
<br /> specific per(ormance or damages.against the Buyer. Failure to ify a ConstrucGon/Perm loan within 10 ilays of the Certificate of
<br /> Ocoupancy will resuft In the Seller placing Ilens on the property. e Buyer acknowledges thet H Seller requlres Buyer to pay for extras
<br /> ordered by Buyer pdor to dsoing,the funds pald by Buyer to S Iler for the e�dras shell be deemed for all purposes hereunder es
<br /> Addidonal Eamest Money Deposk and In the event af defeuft the amauMs shall be retained by Seller as liquidated damages.
<br /> 16.SELLER'S OBLIGATION TO CLOSE:At the time of this cont ct,the lot Is awned by the Developer and the lot may be
<br /> encumbered by a mortgege glven by the Developer.Seller's oblig llon to dose with Buyer(s)under this contrad is coritingerd upon
<br /> Developer conveying tide to Seller free and clear of the existing m rtgage.If the developer is unable to convey good title to Seller,then
<br /> the obligaUons of both Buyer(s)end Seller hereunder shall termin te.if the Developer is able to convey marketable ritle to the Seller,
<br /> then the Seller shall,at closing,deliver a good and sufficient Spec al Warranty Deed to Buye�{s)canveyfng marketable title free and
<br /> clear of encumbrances and exceptions,other ihan the usual end dinary exceptions to Tuture taxes,covenants,restrictions,and utlliiy
<br /> easements eppearing of record.Seller will determine the closing er�t.
<br /> 17.If at the time of execution of the contract 6y the Buyer,cons uction of the home on the lot has not been completed,tfien Seller
<br /> agrees that Seller is hereby obligated to construct and complete e home not later than(2)years from the date of execuUon of thls
<br /> contract by Buyer. In the event of a defauk by the Seller under he terms of this paragraph,Buyer shall be entitied to ail remedies
<br /> provided by the taw.
<br /> 18.ARBRRATION:Any cvntroversy,claim or dispute arising o of or relating to_thfs Agreement or Buyer's purchase of the Home
<br /> (other than the claims under the Limfted Warrenty) shall be riled by arbitration in accordance with the Construction IndusUyr
<br /> Arbitrstion Rulea of the American Nrbitretion Association(°AAA°)and the Federal ArbitreUon Act�Ue 9 of the Unfted Stated Code)
<br /> and.the judgment rendered by the arbftrator(s)may be conflrmed, ntered,end enforced In any court heving jurisdiction.As a conditlon
<br /> precedent to'arbftration,the dispute shall flrat be mediated in a rdance with the Construction Industry Medlatlon Rules of the AAA,
<br /> or such other mediation service selected by the US Cleims und the lJmfted Home Warranty shall be��arbitrated In accordance with
<br /> the arbitration provlsion set forth in the Limited Home Wananty.
<br /> 19.SUBSTIT'UTIONSNARIA'f�ONS: Seller reserves the right to ake changes to the Home and/or to meke deviations from its plans
<br /> or specifications,color seledions and appliances as hecome n ssary in Sellers soie opfnion by site,job or govemmental condfions
<br /> or avallebllity of materlals so long as Seller uses materlals of eq ai ar greater quality and appearance. Detertninetlon of equlvalency
<br /> will be ln Seiler's sole opinion. Buyer(s)understand that all fum re,decorator Rems,specfal landscaping,and other assurances or
<br /> wartanties as to the Home Buyer(s)are purchasing are not a pa of this Agreemenk Buyer(s)understands that the color of fixtures,
<br /> carpeting, pairit,tile, Formica, etc. can vary from shipment to hipment and that Seller cannot be held responsible tor any cotor
<br /> variallona irom the sample.
<br /> 20.RADON GAS NOTIFICATION: In accordance with SecUon .058(8)of the Florlda Statutes,Buyer(s)acknowledges receipt of
<br /> the following notice: RADON GAS: Radon le a neturally occu ng radioactive gas that,when ft has accumulated in a buiiding in
<br /> sufficlent qua�itles;may present health risks to persans who exposed to it over time. Levels of Radon that exceed federal and
<br /> state guidelines have been found in buildings in Florida. Addldo al IntortnaUon regerding Radon and Redon testing may be o6tained
<br /> from the Courriy Public Health Untt.
<br /> 21.ENTRY ON THE PROPERTY:BuyeKs)must have Sellers p rtnission to enter.the Home pAor to the Closing ff fhe loan is an End
<br /> Loan,ar the modificatlon,If the loen Is a Conshuctlon/Pertn lo . Buyer(s)understands that the conshuction sRe could be dangerous
<br /> end agrees that Buyer(s)will be responsible for eny damage t persons or property caused by ar related to ermy of the Home by
<br /> Buyer(s) or their femity members or guests prior to Closing en .Buyer(a}wlll hold Setler hermless and indemnify Seller irom such
<br /> damages. Buyer(s)wlll not make any add�ions or changes to e Home prior to Closing. THIS INDEMNITY IS GIVEN TO SELLER
<br /> REGARDLESS OF WHETHER THE SELLER, ITS AGENTS O EMPLOYEES ARE NEGLIGENT IN WHOLE OR IN PART,AND
<br /> EVEN WHEN THE INJURY,DEATH AND/OR DAMAGE IS CA SED BY THE SOLE NEGLIGENCE OF SELLER,.ITS AGENTS OR
<br /> EMPLOYEES.
<br /> 22.INTERFERENCE: Prior to the delivery of possessfon of the ome to Buyer(s)trom Seller,which delivery shall be et Closing If the
<br /> loan Is an End Loan or whlch delivery.shall be at modificatlon if e loan is a Constructlon!Perm loan,&ryer(s)shall not enter upon
<br /> the Properly and make any changes,additlons or alteraUons in e constructlon of the home including but not Ilmited to the installation
<br /> or additlon of eny equlpm9nt,elecVical wiring,materials,epplia ces,wall coverings or paint. Buyer(s)agrees not to intertere vi�th,
<br /> restrict, iMerrupt,harass or obstruct construction or fts progr , , physicelly, hy nuisence or in any other manner. So doing shall
<br /> constitute a breach of th(s Agreement and a taflure to perfortn o the part of the Buyer(s). Under such circumstances,Seller shall be
<br /> entitled io all remedies provided under tha law.
<br /> 23.ASSIONMENT: This Purchase and Seles Agreement ia not ssigneble by the Buyer(s).
<br /> 24.CONSTAUCTION:On a Construction/Perm loan,the Buyer s)agrees that in connection with a Construction/Pertn loan that the
<br /> tinal draw shall be due and payable at modlflcaGon end Buyer()iurther agrees that modiflcaUon shall occur rrot later than 10 days
<br /> after the issuance of a Certificate of Occupancy. If Buyer(s)fails,tor any reason,to modify within 10 days of issuance of the Certiflcate
<br /> of Occupancy,then Buyer(s)shall be responsible for payment t Seller,in additlon to payment of any remaining draws,for liquidated
<br /> dameges caused by 1he delay In modHication for a sum equel to$70 tor each day after ihe scheduled date for modifi�a8on. Buyer(s).
<br /> turther acknowledges thaY there may be a punch Ilst ior unfini hed items at the time of modification end completion of the ftsma
<br /> Identifled on the punch Iist is not required prior to modificatlon nd shall not excuse Buyers obligaHon to modi(y the Construction!
<br /> Perm Loan.
<br /> 25.Ail negotletions and sgreements of whatsoever kind precedin the date of this instrument are deemed to be merged heretn,thls
<br /> InstrumeM containing the endre agreemeM of the pardes,and th same sheli be amended except upon the written change order or
<br /> other modificatlon agreement signed by all pardes.
<br /> � Cllerd ID:A32635
<br /> CGC058580 var.8/11 BUYER(S)INITIALS P�ge 3 of 11
<br /> �reg Thomas and Yvonne Elere/98300 Dette Qold CL B8S8
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