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<br /> 15.FAILUAE TO CLOSE LOAN AND TRANSACTI N: In the event 8uyer(s)shall be approved for said loan and Buyer{s)shall Tail or
<br /> refuse to close thls uansacUon by executlng the mo gage documents,pay the balance due,and efose Construction/Perm loan within
<br />� f5 days of uncondiUonai loan commitment or t0 ays of GeNficaEe of Occcaparscy an an End �oan oiasing, ar if Buyer{s}shail
<br /> il othervvise dehauii hereunder,the eatnest money de it paid by the Buyer(s}aforesaid may be retained by or for the account of Selier
<br /> as Ifquidated damages,consideraUan for the exec an of this Purchase and Sales Agreement and in full setdement of any ciaims;
<br /> whereupon all parties shall be relieved of a!!obiiga! ns unde�the Putohase and Sa(es Agreemen�or SeHar,at his pption,may seek
<br />! spec'rt'ic per#armance or damages against the Suye Failure ta issadity a Constntct3on J Perm Ioan within 10 days of the Gertificate af
<br /> Occupancy will result in the Seller placing Ilens on t e propertyr.'fhe 8uyer acknowledgas that ff 5etler requires Buyer to pay for extras
<br /> ordered by Buyer prior to clsoing,the iunds paid Buyer!o Seller for the extras shall 6e deemed tor ali purposes hereunder as
<br /> Additionai Eamest Maney Depas3t and in the event o de�ault these amounts shail be retained by Seifer as liqu�date,d damages.
<br /> 16.SELLER'S OBLIGATION TO CLOSE:At the tim of this conVact,the fot is owned by the Developer and the lot may be
<br /> encumbered by a mortgage given by the Developsr. elfer's obligation ta dose wilh Bsryer{s)under this contract is contingent ugon ;
<br /> pevetoper ca�vaying title to SeHer free srsd ciear of e erristing martgage.If the deveiope�Ss unable to convey good title#o Seller,then i
<br /> the obiigations of both Buyer(s)and 5eller hereunde shall terminate.If the Develqper is able to convey marketable tide to the Seller,
<br /> then the Seller shall,at clasing,deliver a good and s fficient Special Warranty Deed to Buyer(s)conveying marketable title free and
<br /> clear of e�cumbrances and eaccegtions,other than th ususl and ordinary excepttons ta fuiure taxes,cavenants,restrictlons,and utitity �
<br /> easements appearing af record.Seiter witt deiermine the ctasing agent.
<br /> 17.!t a2 the time at executian of the coniract by the Buyer,construcRon ot the home on the lai has nat been campleted,then Seiler I
<br /> agrees tttat Setter ts hereby obligated to canstruct a d cflmpiete'#he home not Iater than(2}years frorn the date of executfon o#this
<br /> contract by Buyer. In the event of a default by the elier under the terms of this paragraph,Buyer shall be entitied to all remedies
<br /> provided by the law.
<br /> 18.AABTTRATION:Any confroversy,daim or disp e arising out of or retating to this Agreement or Buyers purchese of the Home
<br /> (qther th�n the claims under the limited Warran shall b8 settied by arbitradon in accordance with the ConsWction Industry
<br /> Arbitration Rutes of the Arnerican Arlaitration Associ tion('AAA�and ttse FedBraf Arbitration Ad{TiUe S of the United Statet3 Code)
<br /> and the judgment rendered by the arbftra#or{s}r�ay b confimted,'sntered,astd e�forced in any court having jurisdict3on.As a wnd'+tion
<br /> precedent to arbitrc�tlon,ffie dispute shali fir8t be me iated(n ACCOrdance with the Constructian Industry Mediatiort Rules of the AAA,
<br /> or such other mediation service selected by the US laims under the Umited Home Warnanty shall be arbitrated in accordance with
<br />� the arbitratian piovislon sat tortlz in the Umited Flome arranty.
<br /> 79.SU83T1TUTIQNSNARU►TIONS: Seller reserves the right ta make Changes to the Horne and/or to make deviaGons irom its plarts
<br />'� or spacificafions,eolor selections and appliances as ecome necessary in SeHet's sate opinion by site,job or gavemmenta#conditions
<br /> or avaiiabifity of materiais so tong as Seller uses ma rials of equal or greater quaiity and appea�ance. Determi�at3on of equivalency
<br /> will be in Sellers sole opinfbn. Buyer(s)understand that all furnRure,decorator items,special landscaping,and other assurances or
<br /> warranties as to the Home Buyer(s�are purchasing re not a part of this Agreement Buyer(s)undecstands that the color of fixtures,
<br /> carpeting,paint,tite, Fnrmica,etc. can vary from s 3pment tq shipment and that Selier cannoi he heSd respansibte for any color
<br /> variations from the sample.
<br /> 20.RADON GA5 AIOTIFlCATiON: in accordance th Sectian 404.056{8�of the Fio�ida Statutes,Buysr(s)acknawledges receipt of
<br /> the TaIlowing notice: RADON GAS: Radon is a na raily occutnng radiaactive gas tha#,when it has accumufated in a buiEding in
<br /> sufficient quantities,may present health risks to pers ns who are exposed to it over Ume. Levels of Fiadan that exaeed federal and
<br /> state guidelines have been found in buildings in Flori a. Additlanal information rega�ding Aadon a�d Radon testing may be abtained
<br /> from the Caunty PubElc Neaith UnEt.
<br /> 21.EN7flY ON THE PROPER7Y:Buyer(s)must hav Seller's pel missian to enter the Home prior to the Cfosing if the loa�is an Eod
<br /> Loan,or the mod�catiart,if UIt;I63Ct{S 8 GOt1SbY1C1i4fi Perm loan.�Buyer(s}understands that the construction siie coutd be dangerous
<br /> and agrses ihat Buyer{s}w3it be responsible for any damage to persons or property caused by or retated to sntry of the Flome hy
<br /> Buyer(s) or their family mem6ers ar guests prior to losing and�Buyer(s)wili hold SeUer harmless end indemnify Seller ftom such
<br /> damages. Buyer(s}will�pt make any additians or c anges to the Home prior to Clasing. THlS 1(VDEMNII'Y IS GIVEN TQ SELLEFi
<br /> RE�ARDLESS OF WHETHEf?TNE SEIt�R, 1TS �fiNTS OR EMPLOYEES ARE NEGLI�ENT(N WNdCE C}R IN PAFtT,AND
<br /> EVEN WHEN THE iNJURY,DEATH AND/dFt DA E IS GAUSED BY THE SOLE NEGLIGENCE OF SELLER,ITS AGENTS OR
<br /> EMPLdYEES.
<br /> 22.tNTERFERENCE: Prior to the detivery of poss ian of the H�me to Buyer(s}from Setier,which delivary shail be at Closing'rf the
<br /> � loan is a�End Loan or which delivery shall be at mo ification iT tlie loan is a Construction/Pertrr Ipan,Buyer(s)shall not enter upon
<br /> � the Property and make arry changes,addiGOns or a(te ations in the construciion of the home inctuding but not limited to the installation
<br /> o�additio�af any equipment,electricaS wiring,mater s,appl3arices,waEi covedngs oT paint. Buyer{s)agrees not#o irterfere with,
<br /> jrestrict,interrupt,harass or obstruct construction or ts progress� physically, by nuisance or in any other manner. So daing shall
<br /> � consMute a breach of this Agreement and a failure to pertorm on the part of the Buyer(s). Under such circumstancea,Seller shall be
<br /> � entitted Yo al!remedies grovided uncler ihe faw.
<br /> ' 23.ASSIGNMEM': This Purchase aod Sales Agreem nt is not a i ignable by the Huyer(s).
<br /> ' 24.GONSSRUCTiON:On a Canstruct�o�1 Perm ioan,fhe Buyer{s)agrees that In connectio�wifih a Gonstruc#ion t Perm toan that tt�e
<br /> ! final draw shail be due and payable at modification d Bu�er(s)'further egreers that modfication shall accur not Iater than 10 days
<br /> � after the issuance of a Certiflcate of Occupancy. If Bu er(s)fails,tor any reason,to modify within 10 days of issuanCe of the Certificate
<br /> '� of Occugaocy,then Buyer{s)sha11 be respansiDfe for aymeni to Seller,in additEoss to payment of any rernaining draws,for liquidated
<br /> damages caused by the delay 3n modificatian tor a sU equal ta$70 tpr each day after the scheduleti date for modifica6on. 8uyer(s}
<br /> i 9urther acknowledges thai there may be a punch lis for unfinished items at the tlme oi modification and completion of the items
<br /> i identified on the punch list is not required prior fo m dficatian and shali not excuse Suyets obligation tp modify the Consiruciion/
<br /> Perm�.oan. (
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<br /> � CGC058580 ver.S/11 SUYER(S)I ITIALS—`��y�—'--���� Page 3 of 9 Aic�c
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