Okaloosa County BOCC — April 7, 2015 — EXHIBIT B ODDFELLOW CONTRACT — reading text

adjustable, [ fixed or adjustable rate loan in the Loan Amount (See Paragraph 2(c)), at an initial interest rate not to exceed % (if left blank, then prevailing rate based upon Buyer's creditworthiness), and for a term of (if left blank, then 30) years (“Financing”). Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days after Effective Date and use good faith and diligent effort to obtain a written loan commitment for the Financing ("Loan Commitment’) and thereafter to close this Contract. Buyer shali keep Seller and Broker fully informed about the status of mortgage loan application and Loan Commitment and authorizes Buyer's mortgage broker and Buyer's lender to disclose such status and progress to Seller and Broker. Upon Buyer's receipt of Loan Commitment, Buyer shall provide written notice of same to Seller. If Buyer does not receive Loan Commitment by Loan Commitment Date, then thereafter either party may cancel this Contract up to the earlier of: (i.) Buyer's delivery of written notice to Seller that Buyer has either received Loan Commitment or elected to waive the financing contingency of this Contract; or (it.) 7 days prior to Closing Date. Page 2 of 11 Sellers Initials [2 X;fg If either party timely cancels this Contract pursuant to this Paragraph 8 and Buyer is not in default under the terms of this Contract, Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under this Contract. If neither party has timely canceled this Contract pursuant to this Paragraph 8, then this financing contingency shall be deemed waived by Buyer. If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not thereafter close, the Deposit shall be paid to Seller uniess failure to close is due to: (1) Seller's default; (2) Property related conditions of the Loan Commitment have not been met (except when such conditions are waived by other provisions of this Contract); (3) appraisal of the Property obtained by Buyer's lender is insufficient to meet terms of the Loan Commitment; or (4) the foan is not funded due to financial failure of Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, thereby releasing Buyer and Seller from all further obligations under this Contract. 00 (c) Assumption of existing mortgage (see rider for terms). tJ (d) Purchase money note and mortgage to Seller (see riders; addenda; or special clauses for terms). CLOSING COSTS, FEES AND CHARGES 9. CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: (a) COSTS TO BE PAID BY SELLER: » Documentary stamp taxes and surtax on deed, if any « HOA/Condominium Association estoppel fees « Owner's Policy and Charges (if Paragraph 9(c)(i) is checked) * Recording and other fees needed to cure title « Title search charges (if Paragraph 9(c)(iii) is checked) +» Seller's attorneys’ fees + Other: None Seller shall pay the following amounts/percentages of the Purchase Price for the following costs and expenses: (HHupto $ or _0 % (1.5% if feft blank) for General Repair ltems ("General Repair Limit"); and (iupto $ or _0 % (1.5% if left biank) for WDO treatment and repairs (“WDO Repair Limit"), and (iiiupto $ or _0_ % (1.5% if left blank) for costs associated with closing out open or expired building permits and obtaining required building permits for any existing improvement for which a permit was not obtained (“Permit Limit"). If, prior to Closing, Seller is unable to meet the Maintenance Requirement as required by Paragraph 11 or the repairs, replacements, treatments or permitting as required by Paragraph 12, then, sums equal to 125% of estimated costs to complete the applicable item(s) (but, not in excess of applicable General Repair, WDO Repair, and Permit Limits set forth above, if any) shall be escrowed at Closing. If actual costs of required repairs, replacements, treatment or permitting exceed applicable escrowed amounts, Seller shall pay such actual costs (but, not in excess of applicable General Repair, WDO Repair, and Permit Limits set forth above). Any unused portion of escrowed amount(s) shall be returned to Seller. (b) COSTS TO BE PAID BY BUYER: + Taxes and recording fees on notes and mortgages » Loan expenses » Recording fees for deed and financing statements + Appraisal fees + Owner's Policy and Charges (if Paragraph 9(c)(ii) is checked) + Buyer's Inspections + Survey (and elevation certification, if required) » Buyer's attorneys' fees * Lender’s title policy and endorsements » All property related insurance + HOA/Condominium Association application/transfer fees + Owner's Policy Premium (if Paragraph 9 (c) (iii) is checked.) » Other: (c) TITLE EVIDENCE AND INSURANCE: At least 30 (if left blank, then 5) days prior to Closing Date, a title insurance commitment issued by a Florida licensed ftitle insurer, with legible copies of instruments listed as exceptions attached thereto ("Title Commitment”) and, after Closing, an owner’s policy of title insurance (see STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title insurance covering the Real Property, a copy shall be fumished to Buyer and Closing Agent within 5 days after Effective Date. The owner's title policy premium, title search, municipal lien search and closing services (collectively, “Owner’s Policy and Charges”) shall be paid, as set forth below (CHECK ONE): U (i) Seller shall designate Closing Agent and pay for Owner's Policy and Charges (but not including Page 3 of 11 Sellers Initials /72 ¢ /“rjc& Buyers Initials (d (e) U] charges for closing services related to Buyer's lender's policy and endorsements and loan closing, which amounts shall be paid by Buyer to Closing Agent or such other provider(s) as Buyer may select); or }4 (ii) Buyer shall designate Closing Agent and pay for Owner's Policy and Charges and charges for closing services related to Buyer's lender's policy, endorsements, and Joan closing. SURVEY: At least 5 days prior to Closing, Buyer may, at Buyer's expense, have the Real Property surveyed and certified by a registered Florida surveyor (*Survey”). If Seller has a survey covering the Real Property, a copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. HOME WARRANTY: At Closing, O Buyer [J SellerfiN/A shall pay for a home warranty plan issued by at a cost not to exceed § . A home warranty plan provides for repair or replacement of many of a home's mechanical systems and major buiit-in appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period. SPECIAL ASSESSMENTS: At Closing, Seller shall pay: (i) the full amount of liens imposed by a public body (“public body” does not include a Condominium or Homeowner's Association) that are certified, confirmed and ratified before Closing; and (ii) the amount of the public body's most recent estimate or assessment for an improvement which is substantially complete as of Effective Date, but that has not resulted in a lien being imposed on the Property before Closing. Buyer shall pay ali other assessments. if special assessments may be paid in installments (CHECK ONE): [0 (a) Seller shall pay installments due prior to Closing and Buyer shall pay installments due after Closing. Installments prepaid or due for the year of Closing shall be prorated. {1 (b) Seller shall pay the assessment(s) in full prior to or at the time of Closing. IF NEITHER BOX 1S CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. This Paragraph 8(f) shall not apply to a special benefit tax lien imposed by a community development district (CDD) pursuant to Chapter 190, F.S., which lien shall be prorated pursuant to STANDARD K. DISCLOSURES 10. DISCLOSURES: (a) (b) (c) (d) (e) Buyers Initials RADON GAS: Radon is a naturally accurring radioactive gas that, when it is accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that 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 health department. PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, Seller does not know of any improvements made to the Property which were made without required permits or made pursuant to permits which have not been properly closed. MOLD: Moid is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or desires additional information regarding mold, Buyer should contact an appropriate professional. FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood zone the Property is in, whether flood insurance is required by Buyer's lender, and what restrictions apply to improving the Property and rebuilding in the event of casualty. |f Property is in a “Special Flood Hazard Area’ or “Coastal Barrier Resources Act’ designated area or otherwise protected area identified by the U.S. Fish and Wildlife Service under the Coastal Barrier Resources Act and the lowest floor elevation for the building(s) and /or flood insurance rating purposes is below minimum flood elevation or is ineligible for flood insurance through the National Flood Insurance Program, Buyer may terminate this Contract by delivering written notice to Seller within (if teft blank, then 20) days after Effective Date, and Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under this Contract, failing which Buyer accepts existing elevation of buildings and flood zone designation of Property. The National Flood Insurance Reform Act of 2012 (referred to as Biggert- Waters 2012) may phase in actuarial rating of pre-Flood Insurance Rate Map (pre-FIRM) non-primary structures (structures in which the insured or spouse does not reside for at least 80% of the year) and an elevation certificate may be required for actuarial rating. ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure required by Section 553.996, F.S. HOMEOWNERS’ ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS’ Page 4 of 11 Sellers Initials _fi{ —)_;j_:{_& 11. 12. 13. Buyers Initials ASSOCIATION/COMMUNITY DISCLOSURE, IF APPLICABLE. (g) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION. (h) FIRPTA TAX WITHHOLDING: Seller shall inform Buyer in writing if Seller is a “foreign person” as defined by the Foreign Investment in Real Property Tax Act (“FIRPTA"). Buyer and Seller shall comply with FIRPTA, which may require Seller to provide additional cash at Closing. If Seller is not a “foreign person’, Seller can provide Buyer, at or prior to Closing, a certification of non-foreign status, under penalties of perjury, to inform Buyer and Closing Agent that no withholding is required. See STANDARD V for further information pertaining to FIRPTA. Buyer and Seller are advised to seek legal counsel and tax advice regarding their respective rights, obligations, reporting and withholding requirements pursuant to FIRPTA. (i) SELLER DISCLOSURE: Selier knows of no facts materially affecting the value of the Real Property which are not readily observable and which have not been disclosed to Buyer. PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS