HARTFIELD AT DEER MOSS CREEK REAL ESTATE SALES CONTRACT

Transcription

1 HARTFIELD AT DEER MOSS CREEK REAL ESTATE SALES CONTRACT THIS CONTRACT is made by and between RUCKEL PROPERTIES, INC., a Florida corporation, ( Developer and/or Seller ) whose address is 1003C John Sims Parkway East, Niceville, FL and ("Buyer"), whose address is, wherein Buyer hereby agrees to purchase and the Seller, hereby agrees to sell the following described real property located in the planned community known as Hartfield at Deer Moss Creek (the Development ) in Niceville, Florida in accordance with the terms and conditions of this Contract. 1. TERMS OF SALE 1.1 Property: Legal Description: Lot, Hartfield at Deer Moss Creek according to the plat thereof recorded at Plat Book 28, Page 46 of the Public Records of Okaloosa County, Florida. 1.2 Purchase Price: $ payable by Buyer in U.S. funds as follows: (a) $ Earnest Money Deposit, made payable to Anchors Smith Grimsley, PLC, as Escrow Agent, received (checks are subject to clearance). (b) $ Additional deposit to be made by. (c) $ Other. (d) $ Balance to close (not including Buyer s closing costs, prepaid items and prorations). All funds paid at closing must be paid by a locally drawn bank official check or wired funds. 1.3 Cash Closing/Financing: (Check as applicable) (a) Buyer will pay cash for the Lot with no financing contingency. (b) This Contract is contingent on Buyer applying for financing to fund the lot purchase within days of the Effective Date (five (5) days if left blank). Buyer will timely provide any and all credit, employment, financial, and other information required by the lender. Buyer will keep Developer and Developer s Broker fully informed of the loan application status and progress and authorizes the lender or mortgage broker to disclose all such information to Developer and Developer s Broker. Buyer will, within 45 days of the Effective Date, provide Developer with either written confirmation from its lender that the financing has been approved or written notice that, after page 1 of 11 Initial:

2 using diligence and good faith, Buyer cannot obtain the financing. In the event Buyer notifies Developer that it cannot obtain the financing then either party may cancel this Contract and Buyer s deposit(s) will be returned after Anchors, Smith, Grimsley, PLC ( Escrow Agent ) receives proper authorization from all interested parties. Once Buyer provides the Seller with proof of approved financing, the financing contingency is waived and Developer will be entitled to retain the deposit(s) if the lot purchase does not close by the Closing Date. At closing Buyer will pay all loan expenses, including the lender s title insurance policy premium. 1.4 Closing: (a) TIME IS OF THE ESSENCE of the Contract. The sale shall be closed and the deed shall be delivered on or before (the Closing Date ). The closing shall take place at such time as will be designated by Seller at the office of Ruckel Properties, Inc., 1003C John Sims Parkway East, Niceville, Florida (b) The parties acknowledge and agree that the Earnest Money Deposit shall be deposited into an escrow account maintained by the Escrow Agent and shall be credited against the Purchase Price at Closing, or, if closing does not occur, shall otherwise be disbursed in accordance with the terms of this Contract. The Escrow Agent shall provide a receipt for the Buyer s Earnest Money Deposit and an Escrow Agreement to be signed by both Seller and Buyer. (c) Buyer s Failure to Close. If Buyer does not close within the required time, then Buyer shall be in default of its obligations under this Contract. Developer may then terminate this Contract, and retain Buyer s Earnest Money Deposit as agreed upon liquidated damages. (d) Lot Condition. The Buyer hereby affirms that Buyer has personally walked upon and inspected the Lot prior to signing this Contract. Buyer acknowledges that Buyer has had an opportunity to enter upon the Lot for the purpose of conducting such engineering studies, site investigations and analysis (including soil tests) as Buyer deems desirable to determine whether the soil or other conditions of the Lot are acceptable to Buyer. The Buyer agrees that the Lot is being acquired AS IS. 1.5 Title Insurance. Developer shall provide to Buyer at least ten (10) days prior to the closing of the Lot to be conveyed hereunder a title insurance commitment, issued through Anchors Smith Grimsley, PLC, showing the subject property to be free and clear of all liens or encumbrances and subject only to taxes for the current year, easements, restrictions and reservations of record. All costs of owners' title insurance shall be borne by Developer. If title as shown by such title evidence is defective or does not meet the standards set forth in this section, Developer shall have forty-five (45) days from the date of receipt of such title evidence to cure the defects, failing which, Buyer shall have the option of accepting title as it then stands or demanding a refund of its Earnest Money Deposit, which shall be forthwith returned to Buyer by Developer and thereupon both Buyer and Developer shall be relieved of further obligations under this Contract. page 2 of 11 Initial:

3 1.6 Survey. If the Buyer desires a survey of the Lot, it may have the property surveyed at its expense prior to the Closing Date. If the survey shows any encroachments on the land herein described or the improvements located on the land herein described encroach on other lands, written notice to that effect shall be given to the Developer and Developer shall have the same time to remove such encroachments as is allowed under this Contract for the curing of defects of title. 1.7 Closing of Title. At closing, Developer shall deliver to Buyer a statutory Warranty Deed, Buyer shall pay the Developer all sums then required to be paid under this Contract, and the parties shall execute and deliver all instruments for the closing of title. Title to the Lot shall be good and insurable subject only to the following: (a) Ad valorem taxes for the year in which title is closed and thereafter; (b) The Declaration of Covenants, Conditions and Restrictions for Deer Moss Creek, as may be supplemented for the Hartfield neighborhood (the Declaration ); (c) The construction commencement and completion timeframe requirements, together with the provision for the assessment of daily liquidated damages for breach of those requirements, as described in Section 2.2 of this Contract; (d) Easements, rights-of-way, and restrictions reflected on the record plat of Hartfield at Deer Moss Creek; and, (e) Conditions, restrictions, reservations, limitations, easements and utility agreements of record, none of which shall substantially impair the intended use of the Lot for a single family residence. 1.8 Closing Costs. (a) Homeowners Association. In accordance with section of the Declaration, the Buyer shall pay an Association Contribution to the Deer Moss Creek Owners Association, Inc. (the Owners Association ) at time of closing of the Lot. The Association Contribution shall be Two Hundred Fifty Dollars ($250.00). The recorded covenants and restrictions provide that the obligation for regular assessments begins when the Buyer closes on the Lot. Assessments are a lien on the Lot. (b) Real Estate Taxes. Real estate taxes for the year of closing shall be prorated as of date of closing. (c) Mortgage Costs. If Buyer finances its purchase, Buyer shall pay all such costs incurred. (d) Other Closing Costs. Buyer shall pay for documentary stamps on the deed, recording fees and all other closing costs. page 3 of 11 Initial:

4 (e) Adjustments. Every effort shall be made to assess costs accurately at closing. However, if an error is discovered after closing, Buyer and Developer agree to adjust the closing statement and costs as necessary. 1.9 Possession. Possession of the Lot shall be transferred to Buyer at closing Builder Selection. Buyer acknowledges that in accordance with the Declaration, all construction of improvements on the Lot must be performed by an approved builder in the Developer s Builder Guild. The current members of the Builders Guild are listed on Exhibit A attached hereto. While construction design and plans are regulated by the Declaration and the Design Code for Deer Moss Creek (the Design Code ), the Developer shall not have control over, charge of, or responsibility for the construction means, methods, techniques, sequences or procedures, or for safety precautions and programs in connection with the work of the builder selected by the Buyer from the Builders Guild, nor shall the Developer be responsible for the builder s failure to perform the work in accordance with the requirements of the contract documents between Buyer and their builder Assignment. Buyer shall not have the right to assign this Contract or any of its rights or obligations hereunder to any persons, corporations or other entity without the written approval of Developer, which approval may be arbitrarily withheld by Developer, it being specifically understood and agreed that Developer has entered into the subject contract with Buyer solely. Developer shall have the right to assign any or all of its rights under this Contract freely without any requirement or consent by Buyer Receipt. The Buyer acknowledges receipt of a copy of the proposed Declaration of Covenants, Conditions and Restrictions for Deer Moss Creek (the Declaration ) and the current Design Code for Deer Moss Creek, and acknowledges that the Lot will be subject to the covenants, conditions, restrictions and easements contained in the Declaration and to the current Design Code, as they may be amended, which include, without limitation, exterior design, materials restrictions, set back and size requirements for structures to be constructed on the Lot, limitations on the use of the Lot; creation of a homeowner s association of which Buyer as the owner of the Lot will be a member; and provision for assessments to maintain common areas (as defined in the governing documents). BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE DISCLOSURE SUMMARY FOR HARTFIELD AT DEER MOSS CREEK AS REQUIRED TO BE PROVIDED BY SECTION , FLORIDA STATUTES. 2. CONSTRUCTION APPROVALS, TIME LIMITS AND GOVERNMENTAL FEES 2.1 Adherence to Deer Moss Creek Design Code. (a) Review. Buyer certifies that Buyer has reviewed the Deer Moss Creek Design Code and agrees to construct all improvements in accordance with final plans and specifications as approved for the Lot by the Deer Moss Creek Town Architect. Any changes to the final plans page 4 of 11 Initial:

5 and specifications must be approved by the Deer Moss Creek Town Architect prior to implementation. (b) Violations. Any construction in violation of, or inconsistent with, the approved plans and specifications may be stopped by the Town Architect and further work on the job will cease until the work has been corrected to the satisfaction of the Town Architect. (c) No Waiver. Variances to the Design Code or non-enforcement of violations that may have occurred in the past do not relieve Buyer of the responsibility to comply with approved plans and specifications for the house to be built on the Lot. The preceding is not intended in any way to waive the rights of the Town Architect, the Deer Moss Creek Owners Association, Inc. or the Developer to enforce previous violations. 2.2 Time Limit. Construction of a house on the Lot must begin within eighteen (18) months from the date Buyer closes on the Lot. Once begun, construction shall proceed to completion in an expeditious manner. No building shall be left in a partially completed state. Construction in accordance with plans approved by the Deer Moss Creek Town Architect must be completed, including landscaping, within twelve (12) months of commencement. This restriction is part of the consideration for the sale of the Lot and is intended to allow for ongoing neighborhood development and to discourage speculation. Failure to commence and/or complete construction within the required timeframes will subject the Lot owner to a continuing assessment of daily liquidated damages by the Developer in the amount of four percent (4%) of the Lot purchase price prorated over a three hundred and sixty-five (365) day period until the violation is cured. The Lot owner shall remit the liquidated damages to the Developer within fifteen (15) days of invoice. The provisions of this Section 2.2 shall be a covenant running with title to the land and shall be noted on the deed from the Developer to Buyer. 2.3 Governmental Approval. (a) Responsibility. Buyer shall be responsible for procuring and paying for all building construction permits and requiring its builder to follow state, county and city codes at all times. The Deer Moss Creek Town Architect is intended only to assure compliance with the aesthetic concerns of the Deer Moss Creek Design Code. The Deer Moss Creek Town Architect, the Deer Moss Creek Owners Association, Inc., the Developer of Deer Moss Creek and its realty agent are not liable for any design or construction defects affecting the safety or structural integrity of the building or for failure of the building to comply with any applicable building codes. (b) Cooperation. Buyer agrees to cooperate fully with Developer at all times during the term of this Contract with reference to ensuring that its builder obtains all necessary governmental permits, licenses and approvals required to effect the purposes of this Contract and further agrees to ensure timely execution of any and all documents required to obtain such governmental permits, licenses and approvals. page 5 of 11 Initial:

6 (c) Impact, Development and Other Charges. All impact, development and other charges assessed or levied by governmental bodies or authorities with reference to the construction of a building upon the Lot which is the subject matter of this Contract, shall be the responsibility of and shall be borne solely by Buyer. 2.4 Homeowners Association and Common Areas. (a) All common area improvements and entry improvements, including structures, signage, decorative lighting, irrigation, landscaping, fencing, grassing and the like, shall be maintained and owned by the Owners' Association. Buyer hereby agrees to execute any and all easements in favor of the Owners' Association necessary to permit the installation of such common area and entry improvements and the continued maintenance thereof. (b) All curb cuts made after the installation of curbing shall be at the expense of Lot Owner and shall be made in accordance with specifications issued by Developer. Lot Owner shall be responsible for any damage to streets, curbs, sidewalks or other infrastructure caused by Lot Owner or its Builder or others providing services or materials during the course of construction on the Lot. Lot Owner shall repair any such damage at Lot Owner s expense. 3. OBLIGATIONS OF DEVELOPER 3.1 Subdivision Improvements. At the time of executing this Contract the Lot is platted and fronts on paved streets with concrete curb and all utilities (water, sanitary sewer, telephone and conduit for electricity) available at the boundary of the Lot. It shall be the sole responsibility of Buyer to obtain services from the providers of utilities. Buyer shall have the responsibility for the payment of all reservation fees, sewer impact fees and other charges made by the providers of the utilities as a condition to providing services to the Lot. 3.2 Governmental Approvals. Developer agrees to cooperate with Buyer s builder at all times during the term of this Contract with reference to the builder obtaining all necessary governmental permits, licenses and approvals, including but not limited to those required by the governmental bodies having jurisdiction and further agrees to execute any and all documents required to obtain necessary governmental approvals. 4. MISCELLANEOUS PROVISIONS: 4.1 Default. If Buyer defaults by failing to purchase the Lot at Closing, the Buyer s Earnest Money Deposit shall be retained by the Developer as liquidated damages and all further rights and obligations under this Contract shall be automatically terminated. If Developer breaches this Contract, Buyer shall not be entitled to specific performance but shall be entitled to return of the Earnest Money Deposit as its sole remedy. In the event of litigation the prevailing party shall be entitled to attorney s fees and costs. page 6 of 11 Initial:

7 4.2 Radon. 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 a period of 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 public health unit. Ruckel Properties, Inc. makes no claim that the Lot being purchased hereunder is free and clear of radon and likewise Buyer does hereby absolve and hold Ruckel Properties, Inc. harmless for any problem, cost or damages that may arise as a result of the presence of radon. It is understood that it is Buyer s responsibility to take whatever precaution a prudent person would exhibit to prevent and/or protect itself from any hazard that may exist as a result of this gas. 4.3 Venue. This Contract shall be governed by and construed in accordance with the laws in the State of Florida and venue shall lie in Okaloosa County, Florida. 4.4 Survival. The terms, conditions and covenants contained in this Contract shall survive the closing and the delivery of deed. 4.5 No Waiver. The waiver by any party of a breach of any provision of this Contract shall not be considered a waiver of any other breach of such provision or any other provisions of this Contract. 4.6 Real Estate Sales Listings, Contracts and Commissions. Developer has listed the Lot with the real estate brokerage division of Ruckel Properties, Inc. The Brokerage will be compensated according to agreements between the Developer and Brokerage. Developer shall provide Buyer with (i) the addendum disclosing the Owners Association, (ii) a copy of the draft Declaration of Covenants, Conditions and Restrictions for Deer Moss Creek, together with any Supplemental Declaration for the Hartfield neighborhood, and (iii) the current Deer Moss Creek Design Code. 4.7 Entire Agreement. This Contract contains the entire understanding between the parties, and may be amended only by instrument in writing. 4.8 Indemnification. To the full extent permitted by law, Buyer agrees to indemnify and hold harmless the Deer Moss Creek Town Architect, the Deer Moss Creek Owners Association, Inc., the Developer of Deer Moss Creek and all their officers, employees, sales representatives and agents, from any civil claim of liability regarding the safety or structural integrity of any home Buyer constructs; the safety of the job site; any delays in construction or any matter regarding the quality of construction, its appearance or its compliance with approved plans. This indemnification shall include but not be limited to the expenses (including judgments, court costs, settlements and attorneys fees) actually and necessarily paid or incurred in connection with any suit or threatened suit. 4.9 Notices. All notices required or permitted to be given hereunder shall be in writing and sent by certified mail, return receipt required, or delivered by hand delivery, to the Developer and Buyer as follows: page 7 of 11 Initial:

8 TO DEVELOPER: COPY TO: TO BUYER: COPY TO: TO LISTING AGENT: TO SELLING AGENT: Ruckel Properties, Inc. 1003C John Sims Parkway Niceville, Florida C. Jeffrey McInnis, Esq. Anchors Smith Grimsley, PLC 909 Mar Walt Drive, Suite 1014 Fort Walton Beach, Florida Either party may designate a different person or entity or place to which notices shall be given by delivering a written notice to that effect to the other party, which notice shall be effective after same is actually received by the other party Contract Not Recordable. This Contract shall not be recorded in the public records of Okaloosa County, Florida and if so recorded, such recordation shall render this Contract null and void HOA DISCLOSURE SUMMARY. IF THE DISCLOSURE SUMMARY REQUIRED BY SECTION FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO PROSPECTIVE PURCHASER BEFORE EXECUTING THIS CONTRACT, THIS CONTRACT IS VOIDABLE BY page 8 of 11 Initial:

9 BUYER BY DELIVERING TO DEVELOPER/SELLER OR DEVELOPER/SELLER S AGENT OR REPRESENTATIVE WRITTEN NOTICE OF THE BUYER S INTENTION TO CANCEL WITHIN THREE (3) DAYS AFTER RECEIPT OF THE DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY PURPORTED WAIVER OF THIS VOIDABILITY RIGHT HAS NO EFFECT. BUYER S RIGHT TO VOID THIS CONTRACT SHALL TERMINATE AT CLOSING WAIVER OF JURY TRIAL. DEVELOPER AND BUILDER MUTUALLY, EXPRESSLY, IRREVOCABLY AND UNCONDITIONALLY WAIVE TRIAL BY JURY FOR ANY PROCEEDINGS ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT OR THE TRANSACTION CONTEMPLATED BY THIS AGREEMENT Effective Date. If this Contract is not executed and delivered to all parties OR THE FACT OF EXECUTION communicated in writing between the parties on or before, the deposit(s) made hereunder will, at Buyer's option, be returned to Buyer and this offer withdrawn. A facsimile copy of this Contract and any signatures thereon shall be considered for all purposes as originals. The date of this Contract (the" Effective Date") shall be the date when the last one of the Buyer and Seller has signed this Contract Modifications to Documents. Buyer acknowledges receipt of a proposed Declaration of Covenants, Conditions and Restrictions for Deer Moss Creek and related exhibits. Developer reserves the right to make modifications or amendments to the Declaration and other documents prior to recording, and thereafter to make other changes in accordance with provisions for amendment of the various documents. Developer shall notify Buyer and furnish Buyer with a complete copy of all such modifications. If (and only if) such modifications are both material and adverse to the Buyer then Buyer shall thereafter have five (5) days in which to accept such changes or cancel this Agreement and receive a refund of all Deposits. Acceptance of closing shall end such right of review and cancellation Cancellation. The Buyer shall have an absolute right to cancel this Contract for any reason whatsoever for a period of seven (7 ) business days following the date on which the contract was executed by the Buyer. In the event the Buyer elects to cancel within the period provided, all funds or other property paid by the Buyer shall be refunded without penalty or obligation within twenty (20) days of the receipt of the notice of cancellation by the Developer. Unless otherwise timely canceled, closing shall occur within sixty (60) days of the date of execution of this Contract by the Buyer or as agreed herein. ANY CURRENT OR PRIOR AGREEMENTS, REPRESENTATIONS, UNDERSTANDINGS AND ORAL STATEMENTS, INCLUDING, BUT NOT LIMITED TO, RENDERINGS OR REPRESENTATIONS CONTAINED IN SALES BROCHURES, ADVERTISING OR SALES MATERIALS AND ORAL STATEMENTS BY SALES REPRESENTATIVES, IF NOT WRITTEN IN THIS AGREEMENT, ARE VOID AND HAVE NO EFFECT. BUYER page 9 of 11 Initial:

10 ACKNOWLEDGES AND AGREES THAT BUYER HAS NOT RELIED ON SUCH ITEMS. Made and executed by the parties on the dates indicated below. Developer/Seller: RUCKEL PROPERTIES, INC., a Florida corporation Dated: By: Marion Ruckel Skalicky, President/CEO/Broker Buyer(s): Dated: Print Name: Print Name: page 10 of 11 Initial:

11 EXHIBIT A Builder s Guild as of 4/13/17 John Tidwell tidwellhomes.com 1069 East John Sims Parkway, Suite #3 Niceville, FL 32578, United States John Toolan toolandevelopment.com 2797 Phil Tyner Road Crestview, Florida Caleb Wise randywisehomes.com 127 N. Partin Drive Niceville, Florida Troy Speegle betterbuiltnwf.com 210 Government Ave, Niceville, FL Ferrin Campbell Facebook.com/ferrincampbell P.O. 448 Niceville, Florida J&V Builders James Brown 341 Edge Avenue Valparaiso, Florida Greg Goodwin greggoodwinconstruction.com 1439 Live Oak Street, Suite A Niceville, Florida Chandler Huff huffhomes.net 4592 Hwy. 20 Niceville, Florida Brian Walsh keylimeconstruction.com 445 Valparaiso Parkway Valparaiso, Florida page 11 of 11 Initial: