Fort Walton Beach Ordinance — 2075--17 Industrial Street NW-Sale of Property — reading text

the prevailing party, which for purposes of this provision will include Buyer, Seller and Broker, will be awarded reasonable 246 attomeys' fees, costs, and expenses. 247 248 16. NOTICES: All notices will be in writing and may be delivered by mail, overnight courier, personal delivery, or 249 electronic means. Parties agree to send all notices to addresses specified on the signature page( s). Any notice, document, or item given by or delivered to an attorney or real estate licensee ( including a transaction broker) 250 representing a party will be as effective as if given by or delivered to that parry. Buyer y ) () i and Seller (,{ yZ) (_) acknowledge receipt of a copy of this page, which is Page 5 of 8 Pages. CC -5 Rev 9/ 17 02017 Florida Realtors - Senam 0949711- 100162. 0224082 Form Simplicity emmoa,wiy sp, m mi asm oor„.-', :..:., m e., yea- r-ex, ws,a.." e, wevaszw+, r  251 17. DISCLOSURES: 252 ( a) Commercial Real Estate Sales Commission Lien Act: The Florida Commercial Real Estate Sales 253 Commission Lien Act provides that a broker has a lien upon the owner's net proceeds from the sale of 254 commercial real estate for any commission earned by the broker under a brokerage agreement. The lien upon the 255 owner's net proceeds is a lien upon personal property which attaches to the owner's net proceeds and does not 255 attach to any interest in real property. This lien right cannot be waived before the commission is earned. 257 ( b) Special Assessment Liens Imposed by Public Body: The Property may be subject to unpaid special 258 assessment lien( s) imposed by a public body. ( A public body includes a Community Development District.) Such 259 liens, if any, shall be paid as set forth in Paragraph 9( e). 260 ( 261 c) Radon Gas: Radon is a naturally occurring radioactive gas that, when it has accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 262 263 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. 264 ( 265 d) Energy -Efficiency Rating Information: Buyer acknowledges receipt of the information brochure required by Section 553. 996, Florida Statutes. 266 18. RISK OF LOSS: 267 ( 268 a) If, after the Effective Date and before closing, the Property is damaged by fire or other casualty, Seller will 269 bear the risk of loss and Buyer may cancel this Contract without liability and the deposit(s) will be returned to Buyer. Alternatively, Buyer will have the option of purchasing the Property at the agreed upon purchase price and 270 Seller will credit the deductible, if any and transfer to Buyer at closing any insurance proceeds, or Seller' s claim 271 272 to any insurance proceeds payable for the damage. Seller will cooperate with and assist Buyer in collecting any such proceeds. Seller shall not settle any insurance claim for damage caused by casualty without the consent of 273 the Buyer. 274 ( b) If, after the Effective Date and before closing, any part of the Property is taken in condemnation or under the 275 276 right of eminent domain, or proceedings for such taking will be pending or threatened, Buyer may cancel this Contract without liability and the deposit(s) will be returned to Buyer. Alternatively, Buyer will have the option of 277 purchasing what is left of the Property at the agreed upon purchase price and Seller will transfer to the Buyer at 278 279 closing the proceeds of any award, or Seller' s claim to any award payable for the taking, Seller will cooperate with and assist Buyer in collecting any such award. 280 281 19. ASSIGNABILITY; PERSONS BOUND: This Contract may be assigned to a related entity, and otherwise is not assignable x is assignable. If this Contract may be assigned, Buyer shall deliver a copy of the assignment agreement 282 to the Seller at least 5 days prior to Closing. The terms " Buyer, " " Seller" and " Broker" may be singular or plural. This 283 Contract is binding upon Buyer, Seller and their heirs, personal representatives, successors and assigns ( if 284 assignment is permitted). 285 20. MISCELLANEOUS: The terms of this Contract constitute the entire agreement between Buyer and Seller. 286 287 Modifications of this Contract will not be binding unless in writing, signed and delivered by the party to be bound. Signatures, initials, documents referenced in this Contract, counterparts and written modifications communicated 288 electronically or on paper will be acceptable for all purposes, including delivery, and will be binding. Handwritten or 289 typewritten terms inserted in or attached to this Contract prevail over preprinted terms. If any provision of this Contract 290 is or becomes invalid or unenforceable, all remaining provisions will continue to be fully effective. This Contract will be 291 construed under Florida law and will not be recorded in any public records. 292 21. BROKERS: Neither Seller nor Buyer has used the services of, or for any other reason owes compensation to, a 293 licensed real estate Broker other than: 294 ( a) Seller' s Broker: Realty House Commercial Properties Mark Bethea Litenses) 295 11 Racetrack Rd NE Ft Walton Beach FC3y Name) 850-244-9117 ( Address, Telephone, Fax E- mail) ' 296 297 who ( x Seller is a single a ent Buyer LJ is a transaction broker 0 has no brokerage relationship and who will be compensated by both parties pursuant to a listing agreement other (specify) 298 299 300 ( b) Buyer' s Broker: Livin Right Real Estate BRAD BOWMAN Company Name ( Licensee) 301 102 Buck Dr. NE Unit C 6377652404 brad livinrightrealestate com Address, Telephone, Fax, Email) r Buyer( (_) and Seller ( n % _) (_) acknowledge receipt of a copy of this page, which is Page 6 of 8 Pages. CC -5 Rev 9117 62017 Florida Realtors* Serial9: 09497$- 100162- 0224081 Form Simplicity Eleamn< Yy S, gnm unin9 eSgnONm,"' x.. 00m ip)os.. nresab,esea:- maesns: o5iol  302 who x is a single agent E] is a transaction broker has no brokerage relationship and who will be compensated by 303 x Seller's Broker Seller Buyer both parties pursuant to an MLS offer of compensation 1t other (specify) 304 Listing Agreement with City of Fort Walton Beach 305 ( collectively referred to as " Broker") in connection with any act relating to the Property, including but not limited to 306 inquiries, introductions, consultations, and negotiations resulting in this transaction. Seller and Buyer agree to 307 308 indemnify and hold Broker harmless from and against losses, damages, costs and expenses of any kind, including reasonable attorneys' fees at all levels, and from liability to any person, arising from ( 1) compensation claimed which is 309 inconsistent with the representation in this Paragraph, (2) enforcement action to collect a brokerage fee pursuant to 310 Paragraph 10, ( 3) any duty accepted by Broker at the request of Seller or Buyer, which is beyond the scope of 311 services regulated by Chapter 475, Florida Statutes, as amended, or (4) recommendations of or services provided and 312 expenses incurred by any third party whom Broker refers, recommends, or retains for or on behalf of Seller or Buyer. 313 22. OPTIONAL CLAUSES: ( Check if any of the following clauses are applicable and are attached as an addendum to 314 this Contract): 315 ( A) Arbitration ( E) Seller Warranty ( 1) Existing Mortgage 316 ( B) Section 1031 Exchange ( 317 ( F) Coastal Construction Control LC)(J) Buyer's Attorney Approval C) Property Inspection and Repair ( G) Flood Area Hazard Zone ( K) Seller's Attorney Approval 318 ( D) Seller Representations ( H) Seller Financing Other 319 23. ADDITIONAL TERMS: 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE 343 ADVICE OF AN ATTORNEY PRIOR TO SIGNING. BROKER ADVISES BUYER AND SELLER TO VERIFY ALL 344 FACTS AND REPRESENTATIONS THAT ARE IMPORTANT TO THEM AND TO