FLORIDA LEGAL FORMS REAL ESTATE TRANSACTIONS. Volume 4. Sections 26.1-End Tables-Index

Transcription

1 FLORIDA LEGAL FORMS Volume 4 REAL ESTATE TRANSACTIONS By JAMES W. MARTIN Member of the Florida Bar St. Petersburg, Florida Sections 26.1-End Tables-Index ST. PAUL, MINN. WEST PUBLISHING CO. 1990

2 SUMMARY OF CONTENTS Volume 3 COPYRIGHT 1990 By WEST PUBLISHING CO. Library of Congress Catalog Card Number: PART I. PURCHASE AND SALE OF REAL ESTATE Chapter Page 1. General Information Other Checklists for Real Estate Transactions Listing Agreements and Other Brokerage Agreements Purchase and Sale Agreements-General Forms Purchase and Sale Agreements-Installment Sales (Agreements for Deed) Purchase and Sale Agreements-Commercial and Industrial Contracts for Exchange of Real Property Options to Purchase : Clauses for Real Estate Sale Contracts Amendments, Assignments, Notices and Other Forms Related 11. to Contracts Title Insurance Affidavits and Documents Clearing Title Regulation of Land Sales Practices Other Federal Laws Regarding Real Estate Closing the Sale PART II. DEEDS, RESTRICTIONS, ACKNOWLEDGMENTS AND POWERS OF ATTORNEY 16. Common Deed Forms Deed Clauses Restrictions and Subdivisions Acknowledgments and Powers of Attorney PART ill. EASEMENTS, LICENSES AND PARTY WALLS 20. Easements and Licenses Party Walls PART IV. CONDOMINIUMS 4 Fla.Legal Forms-Real Estate Transactions 22. General Information on Condominiums Creation of Condominiums; Amendments Sales of Condominiums Condominium Time-Sharing Arrangements 1018 m

3 SUMMARY OF CONTENTS Volume 4 PART V. MORTGAGES AND OTHER REAL ESTATE LOAN DOCUMENTS Chapter Page 26. Introduction to Real Estate Financing Loan Applications, Commitments, Loan Agreements, and Closing Documents Federal Truth in Lending Act Mortgages and Security Agreements Mortgage Notes and Guaranties Miscellaneous Mortgage-Related Forms 366 PART VI. LANDLORD AND TENANT 32. General Information and Agreements for Leases Residential Tenancies Commercial Leases Lease Clauses Tenancy Notices and Evictions 787 IV Volume 3 PART I. PURCHASE AND SALE OF REAL ESTATE CHAPTER 1. GENERAL INFORMATION A. GENERAL CHECKLIST FOR REAL ESTATE TRANSACTIONS Preparing to Represent the Seller. 1.3 Preparing to Represent the Buyer. 1.4 Information as to Parties. 1.5 Identification of Parties. 1.6 If Natural Persons, Ascertain. 1.7 If Party Is a Corporation, Ascertain. 1.8 If Party Is an Executor, Personal Representative, an Administrator, a Gu~dian, a Trustee, a Trustee in Bankruptcy, a Receiver, or an 37. Lease Assignments, Subleases, Modifications, Amendments Assignee for the Benefit of Creditors, Ascertain. and Terminations If Party Is an Heir or Devisee, Ascertain If Party Is an Unincorporated Association or Business Trust, Ascertain. PART VII. MISCELLANEOUS REAL ESTATE FORMS 1.11 If Party Is a Partnership, Ascertain If.Parties Are or Are to Be Tenants in Common, Joint Tenants or 38. Construction 859 Tenants by Entirety, Ascertain. 39. Management Contracts If Any Party Is Acting or Is to Act by Agent or Attorney in Fact 40. Variances, Zoning, Ad V alorem Tax, and Other Land Use Ascertain. ' Matters Common Description of Property Legal Description Identification of Property; Survey. Table of Statutes Index Streets, Roads and Alleys Easements and Licenses Parties in Possession-Purchasers Under Land Contracts Tenants Signs Condition of Land and Buildings Service and Employment Contracts Growing Crops Use of Property by Vendor Prior to Closing Delivery of Possession to Purchaser Personal Property Purchase Price in General Options Exchange of Property Title to Be Conveyed Mortgages Construction Liens Judgments and Pending Suits. V

4 1.35 Taxes and Assessments Maintenance Charges Building, Zoning and Other Restrictions Notice of Equities Risk of Loss or Damage Prior to Closing Insurance Remedies Commissions Form of Contract Description of Parties Consideration Description of Property Encumbrances and Defects Purchase Price Apportionment of Rents, Interest and Other Items Title and Deed Time and Place of Closing Entire or Severable Contract Assignability Conditions Miscellaneous Provisions Execution Escrow Preparation for Closing Closing Transactions Subsequent to Closing Florida Law Review Articles. B. OTHER SOURCES CHAPTER 2, OTHER CHECKLISTS FOR REAL ESTATE TRANSACTIONS 2.1 Checklist-Preliminary to Contract. 2.2 Opening File Checklist. 2.3 Real Estate Closing Interview Sheet. 2.4 Checklist-Attorney for Buyer or Mortgagor. 2.5 Attorney for Seller. 2.6 Real Estate Closing-Documents Checklist. 2.7 Real Estate Closing Statement Worksheet. 2.8 Real Estate Closing-Disbursements. 2.9 Figures Worksheet Representation of Seller Representation of Buyer Real Estate Closing Checklist for Representation of Buyer Real Estate Closing Checklist-Third Person Matters Loan Closing-Documents Worksheet Check List for Seller's Attorney Check List for Buyer's Attorney. VI 2.18 IRS Form 1099 Checklist Checklist for Recording Documents With Clerk Lien and Judgment Checklist Trust Account Proof Sheet and Instructions to Bookkeeper-Sample Filled-In. CHAPTER 3. LISTING AGREEMENTS AND OTHER BROKERAGE AGREEMENTS Agreement for Exclusive Right to Sell. 3.3 Exclusive Listing Agreement. 3.4 Nonexclusive Listing Agreement-General Form Listing Agreement-Exclusive Right of Sale. 3.7 Real Estate Broker's Commission Agreement. 3.8 Payable on Consummation. 3.9 Commission Agreement Contract for Land Sale Notice of Submittal Real Property Sales Disclosure Warning. CHAPTER 4. PURCHASE AND SALE AGREEMENTS- GENERAL FORMS A. GENERAL CONSIDERATIONS Checklist for Drafting Sale Contract. 4.3 Offers to Purchase and Deposit Receipts B. CONTRACT FORMS Contract for Sale and Purchase-Florida Association of Realtors-Florida Bar Approved Form. Contract for Sale of Real Estate. Contract for Sale of Real Estate-Another Form. Real Estate Sale and Purchase Contract. Contract for Sale and Purchase of Real Estate-Seller's Form. -- Another Seller's Form. -- "As-Is" Sale. Real Estate Sale Contract-Memorandum. -- Another Short Form. -- Basic Form. -- Payment of Purchase Price in Cash. -- First Mortgage Back to Seller. -- Assumption and Second Mortgage to Seller. -- Price to Be Fixed by Arbitrators. Real Estate Sale Contract Form-Seller to Construct Residence Similar to Model Home. VII

5 4.26 Offer to Purchase-Letter Form Offer to Purchase and Acceptance Form Deposit Receipt Contract Form. 4:29 Deposit Receipt and Contract for Sale Deposit Receipt Contract to Buy and Deposit Receipt Sales Agreement and Deposit Receipt Agreement for Sale and Purchase of Shopping Center Under Construction Contract for Purchase and Sale-Mobile Home Park. C. ADDENDUM FORMS 4.70 Addendum-Basic Form Commercial Property Inspection Procedure To Clarify Financing Assumption and Second Mortgage Seller's Form for As-Is Sale Buyer's Form for Vacant Land to Be Improved Buyer's Form With Warranties of Building's Condition Seller to Occupy After Closing Sale by Co-owner to Other Co-owner. CHAPTER 5. PURCHASE AND SALE AGREEMENTS INSTALLMENT SALES (AGREEMENTS FOR DEED) A. GENERAL CONSIDERATIONS Information to Be Secured Before Drafting Installment Sale Contract. B. CONTRACT FORMS 5.10 Installment Sale Contract-Short Form Installment Sale Contract-Another Form Agreement for Deed C. RELATED FORMS 5.60 Assignment of Installment Sale Contract Assignment of Buyer's Interest in Agreement for Deed Assignment of Contract. VIII CHAPTER 6. PURCHASE AND SALE AGREEMENTS- COMMERCIAL AND INDUSTRIAL 6.1 Sales Contract-Seller to Construct Supermarket and Lease From Buyer. 6.2 Tracts to Be Acquired by Seller. 6.3 Commercial Building. 6.4 Agreement to Secure Tenants. 6.5 Agreement to Repurchase Land. CHAPTER 7. CONTRACTS FOR EXCHANGE OF REAL PROPERTY A. CONTRACT FORMS Contract for Exchange of Real Estate-Possible Delayed Exchange-With Escrow Agreement Attached. 7.3 Letter of Credit. 7.4 Real Estate Exchange Agreement-With Escrow. 7.5 Exchange Agreement-Three Parties. 7.6 Short Form. 7.7 Another Short Form. 7.8 Another Short Form. 7.9 With Brokerage Fees Both Properties Subject to Mortgage Subject to Approval Filling Station for Resort. B. RELATED FORMS 7.50 Amendment to Contract for Exchange of Real Estate Provision for Furnishing Policies of Title Insurance on Exchange of Realty Letter of Intent for Possible Contract for Exchange or Sale of Assets Including Real Estate Amendment to Escrow Agreement Direction to Escrow Agent. CHAPTER 8. OPTIONS TO PURCHASE Option to Purchase-Short Form. 8.3 Another Short Form. 8.4 General Form Another General Form Two Parts. 8.8 Basic Form-Contract Attached. 8.9 Option Contract-Vacant Land to Be Improved Option to Purchase-Commercial Property-Environmental Concerns Option Contract. IX

6 8.12 Acceptance of Option to Purchase Right of First Refusal. CHAPTER 9. CLAUSES FOR REAL ESTATE SALE CONTRACTS A. USUAL PROVISIONS IN SALES CONTRACTS 9.1 Date. 9.2 Parties and Residence. 9.3 Description of the Property. 9.4 Reservations and Exceptions. 9.5 Included in Sale. 9.6 Subject to Mortgage. 9.7 Mortgage Assumption. 9.8 Restrictions. 9.9 Leases Survey Exceptions Zoning Ordinances Street Encroachments Construction Liens Purchase Price Terms of Payment-Down Payment Balance of Cash Payment Assumption of Existing Mortgage Purchase Money Mortgage Mortgage Contingency Clause Delivery of Deed Type of Deed Title Another Title Clause Personal Property Possession Apportionments Risk of Loss Assessments Condition-Seller's Warranties _ As-Is Inspection Right Confirming Inspection and Defects Reliance Broker's Commissions Oral Modifications Testimonium Clause and Signature Warning Deposit Receipt Delivery of Abstract of Title or Title Insurance Policy of Mortgage Title Insurance Marketable Title Subject to Restrictions of Record Price to Be Fixed by Valuation Purchase Money Mortgage. X 9.44 Another Clause Assumption of Mortgage Another Clause Assumption of F.H.A. Loan Evidence of Reduction of Existing Mortgage V.A. Mortgage F.H.A. Mortgage Seller to Pay Points Building Violations Rights in Street Water Meter Readings Covenant by Vendor to Pay Taxes Well Water Condition Termite, and Other Wood-Destroying Insects Inspection Right to Inspect Disclosure Concerning Lead Paint No Misrepresentations by Broker Casualty Damage Occupancy by Seller Occupancy by Buyer Buyer Storing Property on Seller's Premises Surrender of Possession on Purchaser's Default Termination and Reentry on Default Remedies for Default Disposition of Deposit on Default Dispute Over Deposit Arbitration Time of Essence of Contract Payment of Costs and Fees Multiple Listing Service Protection From Other Brokers Sale Dependent on Purchaser Obtaining Transfer of Seller's Liquor License Agreement to Convey and to Reimburse for Mortgage Indebtedness Covenant Against Recording Rents Under Outstanding Lease Reserved to Vendor Miscellaneous Foreign Investment in Real Property Tax Act (FIRPTA) Radon Disclosure Homestead Appraisal Broker. CHAPTER 10. AMENDMENTS, ASSIGNMENTS, NOTICES AND OTHER FORMS RELATED TO CONTRACTS A. AMENDMENT FORMS 10.1 Amendment to Contract-Basic Form To Be Signed at Closing To Correct Legal Description at Closing. XI

7 10.4 To Extend Closing Date Addendum to Deposit Receipt and Contract for Sale-Buyer's Form. B. ASSIGNMENT FORMS Assignment of Interest in Sale Contract Assignment of Contract Assignment of Contract for Sale of Real Property Assignment of Contract C. NOTICES Notice to Buyer Cancelling Sales Contract for Breach. Notice to Buyer Cancelling Sales Contract Where Buyer in Possession. Notice to Seller to Complete Contract. Notice to Purchaser to Complete Contract. Notice to Purchaser-Mortgagor Re Title Insurance. D. OTHER CONTRACT-RELATED FORMS Settlement of Conflicting Claims. Sale of Undivided Interest by One Tenant in Common to the Other. Indemnification Agreement. Termination of Contract for Sale and Purchase of Real Estate. Termination of Contract. Cancellation of Contract. Release of Deposit Receipt ALTA Endorsement Form 6.2-Variable Rate Mortgage-Negative Amortization-Sample Form ALTA Endorsement Form ARM-Adjustable Rate Mortgage-Sample Form ALTA Endorsement Form 8.1-Environmental Protection Lien-Sample Form ALTA Endorsement Form 9-Restrictions, Encroachments, Minerals-- Sample Form ALTA Endorsement Form PUD-E-PUD Endorsement-Sample Form Location Endorsement Assignment of Mortgage Endorsement Revolving Credit Endorsement Manufactured Housing Unit Endorsement Notice to Purchaser-Mortgagor CHAPTER 12. AFFIDAVITS AND DOCUMENTS CLEARING TITLE A. AFFIDAVITS Affidavit as to Scrivenor's Error. Affidavit of Scrivenor's Error. Affidavit to Assist in Determining Whether Certain Matters of Record Affect the Title. Affidavit to Clear Up Chain of Title. Affidavit of Title. Affidavit of Title Where There Are Tenants. Affidavit Where Owner Deeding to Mortgagee. Affidavit of Grantor That Deed Not Intended as Security CHAPTER 11. TITLE INSURANCE Commitment for Title Insurance-Sample Form. ALTA Owner's Policy-Sample Form. ALTA Loan Policy-Sample Form. ALTA Leasehold Owner's Policy-Sample Form. ALTA Leasehold Loan Policy-Sample Form. ALTA Residential Title Insurance Policy-Sample Form. ALTA Construction Loan Policy-Sample Form. ALTA Construction Loan Policy Endorsement A-Sample Form. ALTA Construction Loan Policy Endorsement B-Sample Form. ALTA Construction Loan Policy Endorsement C-Sample Form. ALTA Construction Loan Policy Endorsement D-Sample Form. ALTA Endorsement Form 4--Condominium-Sample Form. ALTA Endorsement Form 5-Planned Unit Development-Sample Form. ALTA Endorsement Form 6-Variable Rate Mortgage-Sample Form. ALTA Endorsement Form 6.1-Variable Rate Mortgage-Sample Form. XII Satisfaction of Judgment By Individual By Corporation. B. SATISFACTIONS OF JUDGMENT CHAPTER 13. REGULATION OF LAND SALES PRACTICES 13.1 Florida Uniform Land Sales Practices Law Interstate Land Sales Full Disclosure Act History and Source Material Exemptions Less Than Twenty-Five Lots in a Subdivision Existing or to Be Constructed Building Clause Obligating Seller to Complete Construction in Two Years Sale to a Builder or for Resale to Builders Clause Affirming Purchaser Is a Builder Industrial or Commercial Property. XIII

8 13.11 Contract Addendum Form for Statements Concerning Industrial or Commercial Property CHAPTER 14. OTHER FEDERAL LAWS REGARDING REAL ESTATE A. REAL ESTATE SETTLEMENT PROCEDURES ACT (RESPA) RESPA- Coverage of RESP A. Special Information Booklet. Good Faith Estimate of Charges. Uniform Settlement Statement. Advance Inspection of Uniform Statement. Prohibition Against Kickbacks. Requiring Title Insurance From a Particular Company. Limitation on Advance Deposits in Escrow Accounts. Disclosure of Beneficial Interest. HUD Notice Regarding Uniform Settlement Statement Additions. Sample Form of-hud-1 Uniform Settlement Statement. Sample Filled-In HUD-1 Form. Certification Form. B. GOVERNMENT-REQUIRED FORMS Florida Department of Revenue Return for Transfers of Interest in Florida Real Property-DR IRS Form 1099-S (1988) IRS Form Instructions for Reporting Real Estate Transactions on Form 1099-S Acknowledgement of Real Estate Reporting Requirements Designation Agreement. Another Form of Designation Agreement. Affidavit. Information Form B Reporting Service Form FIRPTA-Non-Foreign Affidavit and Indemnification Another Form of Certification-Individual Transferor Non-Foreign Certification-Individual Transferor Instruction Regarding Manner of Dealing With Withholding of Tax. Affidavit of Foreign Purchaser of Residential Real Property. Letter to Foreign Purchaser. Affidavit of Buyers to Avoid Withholding for Tax on Foreign Seller. City Assessment Search B. FAIR HOUSING AMENDMENTS ACT OF 1988 Fair Housing Amendments- HUD Rules. Law Before Amendment. Law After Amendment. Discrimination Based on Handicap or Familial Status. Residential Real Estate-Related Transactions. Complaint. Investigation. Conciliation. Referred to Local Agency. Administrative Proceeding or Court. CHAPTER 15. CLOSING THE SALE C. CLOSING STATEMENTS AND AGREEMENTS (OTHER THAN HUD-1) Closing Statement. Seller's Closing Statement. Buyer's Closing Statement. Statement of Sale. Memo of Sale. Closing Statement-Fund Form. Fund Form-Sample Filled-In. Sample Filled-In. Prorations-Closing Agreement. -- Tax Proration Agreement. Real Estate Tax Proration Agreement. Tax Reproration Agreement. Agreement as to Closing Statement A. GENERAL CONSIDERATIONS Closing Statement. The Closing. Persons Present at Closing. Delivery of Closing Documents. Post-Closing Matters for Purchaser. Post-Closing Matters for Seller. XIV D. BILLS OF SALE Bill of Sale-Residential Property. Commercial Property (Hotel). Bill of Sale. Bill of Sale-From a Corporation. xv

9 E. AFFIDAVITS Seller's "Gap" Affidavit. Affidavit-Of Corporation. Of Seller. -- Sellers' No Lien. Seller's No Lien With Additional Clauses. No Lien. Seller's Affidavit-Sample Filled-In. Continuous Marriage Affidavit. F. CONDITION AGREEMENTS As-Is Agreement Warranties Termites-Limited Warranty for Soil Treatment for Termites Wood-Destroying Organism Inspection Report-Sample Form Acceptance of Condition Occupancy Agreement Buyer's Form. G. OCCUPANCY AGREEMENTS H. ESCROW Memorandum Accompanying Delivery of Deed in Escrow Delivery to Bank Escrow Receipt Escrow Agreement on Deposit of Deed and Purchase Money Mortgage Strict Joint Order Escrow ~ Deposit for Discharge of Encumbrances. I. LETTERS Lender Estoppel Letter Tenant Estoppel Letter Letter Request for Condominium Transfer Information Letter From Attorney to Client Disclosing Role as Title Insurance Agent Letter Ordering Title Policy After Closing Letter Paying Off Mortgage After Closing Letter Recording Documents Letter Ordering Documentary Stamps Letter Requesting Tax Reproration Payment. XVI J. MISCELLANEOUS FORMS Further Assurance and Compliance Agreement Mortgages-Assignment of Funds Held by Mortgagee in Escrow to Pay Taxes and Fire Insurance Co-ownership Agreement Joint Venture Agreement Surveyor's Certificate Broker-Commission Receipt Corporation-Certified Copy of Articles and Bylaws Condominiums-Certificate of Association Approval Document Execution Instructions. PART II. DEEDS, RESTRICTIONS, ACKNOWLEDGMENTS AND POWERS OF ATTORNEY CHAPTER 16. COMMON DEED FORMS A. GENERAL CONSIDERATIONS Deeds in General Selecting the Deed Form Restrictions and Conditions Acknowledgment Delivery Statutory Provisions Husband and Wife Homestead B. FORMS Statutory Warranty Deed. Modified. Warranty Deed-Statutory. Long Form. From Individual to Individual. -- From Individual to Corporation. -- By Corporation. From Corporation. -- From Corporation to Corporation. XVII

10 With Relinquishment. Special Warranty Deed Clause. Special Warranty Deed. _-_ Another Form. Long Form. From Corporation. Fee Simple Deed. Quit Claim Deed Clause. Quit Claim Deed-Another Form. From Corporation. Deed in Trust. Land Trust Agreement. Deed in Trust-To Church From Church. Personal Representative's Deed. Personal Representative or Guardian's Deed. Administrator, Executor, or Guardian's Deed. Master's Deed. Warranty Deed-Sample Filled-In. CHAPTER 17. DEED CLAUSES A. DESCRIBING THE PARTIES AND ESTATES Foreign Corporation as a Party. Deed by a Corporation to a Corporation. Deed to Partners. Limited Partnership as a Party. Deed Executed Under Power of Attorney. Referring to the Power Annexed. Deed by Trustees With Special Warranty Covenant. Deed by Individual to Trustee. B. DEED CLAUSES FOR PARTICULAR CIRCUMSTANCES Deed Subject to a Life Estate. Deed of Life Estate With Remainder Over. Grant on a Condition Subsequent-Park Purposes. Condition Subsequent With Right of Reverter in Grantor. Witness Clause Where Signature Is Written for Grantor. Witness Clause When Party Is Blind. Witness Clause When Signature by Mark. C. DEED CLAUSES DESCRIBING THE PROPERTY City Lot. Lot According to Plat. Condominium. Land in Government Survey. By Metes and Bounds. By Course and Distance. Description With Reference to Other Land. Description Bounding by Rivers, Highways, and Other Boundaries. Grant of Riparian Rights. D. ENCUMBRANCES AND SUBJECT TO CLAUSES Subject to a Prior Mortgage. Subject to a Prior Mortgage Which Grantee Assumes and Agrees to Pay. Subject to a Prior Mortgage Which Grantee Does Not Assume. Subject to a Prior Mortgage Which Grantor Will Pay Per Wraparound Mortgage. " Assuming Payment of Taxes and Making Conveyance Subject to Encumbrances. Typical Subject-To Clauses in a Planned Development. Subject to a Lease Assumed by Grantee. Subject to Catch-All Restrictions. Subject to Specific Restrictions. Exception for Sovereign Rights on Gulf or Bay Front. Subject to Survey. Subject to Zoning. Subject to Party Wall Agreement. Subject to Special Assessment. Common Driveway Clause. Subject to Life Estate of Grantors. Subject to Easement for Drain Deed to Correct Mistake in Prior Deed. Deed Clause Confirming a Conveyance Made During Minority. Deed Confirming a Conveyance Under Power of Attorney. Deed of Partition Among Three Co-owners. Deed of Life Estate. XVIII E. COVENANTS FOR TITLE Covenant by One Person to One Person. Joint Covenant by Two or More Persons to One Person. Joint and Several Covenant. XIX

11 Several Covenant. Covenant by a Husband and Wife. Covenants by Several Grantors, Each for His Own Proportion of the Estate Only. Mutual Covenants-Independent. Covenant to Convey Being Dependent Upon Covenant to Pay Purchase Money. Covenant for Seisin. Short Form. Several and Not Joint. By Life Tenant and Tenant in Fee of the Reversion. Covenant for Seisin by Executors. Covenant for Power to Convey. Covenant for Seisin and Power to Convey. Covenant for Quiet Possession. Short Form. Covenant Against Encumbrances. Short Form. Covenant for Further Assurance. Short Form. Covenant Against Grantor's Acts. Short Form. Covenant by Grantors Against Their Own Acts. Covenant of General Warranty. Covenant of Special Warranty. Covenants of Seisin and Warranty. Covenant Against Nuisances. Stipulation Against Implied Covenants. Covenant by Personal Representatives. Provision for Covenants to Run With the Land. Remedy for Breach of Covenant. F. RESERVATIONS AND EXCEPTIONS Clause Modifying Granting Clause Where Reservations Etc. Follow at End of Deed. Exception of Lands. Reservation of Water for Stock. Reservation of Water Rights-Typical Clause Reserving Right to Water Well. Reservation of Life Interest. Clause Reserving Life Estate-Another Reservation of Right to Party Wall. Reservation of Right or Privilege. Reservation of Oil and Gas. Reservation of Water Rights in Lake. Reservation of Right of Access to Lake. Reservation of Merchantable Clause Excepting Life Estate. xx Timber. Clauses. Form Clause Reserving Right of Way Clause Reserving Right to Lay Pipes Catch-All Restrictions, Reservations, Etc.-Clause. G. HABENDUM CLAUSES Deed Releasing to Heirs or Devisees Premises Subject to Life Estate of Grantors Premises Subject to Easement for Party Walls Premises Subject to Easement for Drain Premises Subject to Timber Contracts. H. ATTESTATION CLAUSES Attestation-General Witness Clause When Signature by Mark Where Signature Is by Mark-Another Form Witness Clause When Party Is Blind Where Signature Is Written for Grantor Where Execution Is by Agent Where Execution Is by Officers of Municipal Corporation Where Execution Is by Municipal Corporation-Another Form. CHAPTER 18. RESTRICTIONS AND SUBDIVISIONS A. RESTRICTIONS IN GENERAL AND SAMPLE CLAUSES Declaration of Restrictions Deed of One Lot With Restrictions for the Benefit of All Lots Embraced in a General Plan Restricted to Single-Family Residences Covenant Fixing Building Line Restriction Against Re-subdividing Lot Restriction of Right to Erect Fences Restrictions as to Cost of Building and Changing Grading Approval of Building Plans Required Plans Are Approved Covenant by Grantee to Be Liable for Proportionate Share of Expenses Covenant by Grantee to Pay Annual Charge Covenant by Grantor to Subject All Lots to Same Restrictions Covenant by Grantor to Set Aside Lots for Park Purposes Approval of Sale or Transfer Cancellation or Amendment of Restrictions by Grantor Persons Entitled to Enforce Restrictions and Remedies for Violations Expiration Date or Term Notice of Extension of Restrictions Discharge of Restrictions by All the Owners of Record Clause Creating a Determinable Fee Clause Creating a Fee on Condition Subsequent Clause Restricting Use to Public Library Purposes. XXI

12 Clause Restricting Use to City Hall Purposes. Clause Restricting Use to Camp Site for Boy Scouts. Reversion Clause in Deed to Government. Reservation, No Building to Be Erected on Premises. Covenant Not To Build so as to Obstruct Light and Air. Covenant to Maintain Fences. Restrictive Covenant. Notice of Extension of Building Restrictions-All Lot Owners. Release of Restrictions-All Lot Owners. Extension and Amendment of Restrictions. B. BUILDING RESTRICTIONS General Plan Restrictions in Deed. Simple Building Restrictions to Be Inserted in Deed-Single Family Dwelling-Construction Cost Limit. Simple Building Restrictions to Be Inserted in Deed-One Family Dwellings-Square Footage Limit-Setbacks. Declaration of Simple Building Restrictions-For Whose Benefit-- Expiration Date. Declaration of Simple Subdivision Restrictions-One Family Residences-No Detached Garages, Etc. Declaration of Simple Subdivision Restrictions-Single-Family Dwelling-Limit on Cost, Quality, Size. Restrictions for a New Subdivision. C. COMPREHENSIVE RESTRICTIONS FOR DEVELOPMENTS WITH HOMEOWNER ASSOCIATIONS Declaration of Covenants, Conditions and Restrictions. Declaration of Restrictions With Common Easements. Articles of Incorporation of Homeowners Association. Articles of Incorporation of Homeowners Association-Another By-Laws of Homeowners Association. By-Laws of Homeowners Association-Another Form. Exhibit C, Architectural Planning Criteria. Acceptance of Restrictions by Association. Joinder of Mortgagee. Amendment to Declaration of Restrictions. D. SUBDIVISIONS Ownership Letter for Platting. Dedication of Streets in Plat. Nondedication of Streets in Plat. Clause Dedicating Streets in Plat for Private Use. Grant of Easement for Drainage Ditch. XXII Form CHAPTER 19. ACKNOWLEDGMENTS AND POWERS OF ATTORNEY A. GENERAL CONSIDERATIONS Need for Acknowledgment. Attestation Distinguished. Contents of Certificate. Statutory Forms of Acknowledgment. Effect of Defective Acknowledgment. Validating Acts. Authentication. B. FORMS OF ACKNOWLEDGMENT By Individual-Short Form. Sworn Form. By Corporation-Short Form. -- Sworn Form. By Foreign Corporation-Sworn Form. By Partnership-Short Form. Sworn Form. By Agent-Short Form. -- Sworn Form. By Trustee, Personal R epresentative or Public Officer-Short Form. By Trustee-Sworn Form. By Husband and Wife-Sworn Form. By Personal Representative-Sworn Form. By Military Officer. C. POWERS OF ATTORNEY Power of Attorney-Form. -- Real Estate With Business. Durable Power of Attorney-Specific Property. -- More General Form. Power of Attorney Regarding Partnership Property. Clause for Power of Attorney Regarding Partnership Property. Clause to Sell for Power of Attorney. XXIII

13 PART ID. EASEMENTS, LICENSES AND PARTY WALLS CHAPTER 20. EASEMENTS AND LICENSES A. EASEMENTS Grant of Right of Way for All Purposes. Grant of Right of Way in Connection With Dwelling House. Agreement to Grant Right of Way Across Res~1:7~d Tract of Land. Grant of Right of Way to Governmental Subdiv1S1on. Granting Clause-Right of Way to Mortgagee. Right to Use in Common a Shore Line Strip. Right of Way for Electric Power Transmission Line. Right of Way for Aircraft. Aviation Easement. Aviation and Hazard Easement. Consent of Tenant to Grant of Right of Way. Highway Access Provisions. Grant of New Right of Way in Substitution for Existing Right of Way. Agreement Quieting Dispute as to Use of a Private R?a? Acknowledgment That Private Road Is Used by Pernnss1on. Disclaimer of Interest in Land Made to Purchaser. Grant of Right of Way to Railway Company. Grant of Flowage Right. Agreement Fixing Damages in Event Lands Overflowed. Warranty Deed of Easement to Flood Land. Reservoir Flowage Easement. Granting Clause-Perpetual Easement Consistent With Flood Control Plans. Agreement Between Riparian Owners as to Right to Impede Flow of Water. Grant of Right of Sewage. Grant of Right to Lay Footings of Wall in Land of Adjoining Owner. Grant of Right of Lateral Support for a Building. Grant of Easement of Light. Transmission Line Easement. Short Form-Individual to Florida Power Corporation. Corporation to Florida Power Corporation. Long Form-Individual to Florida Power Corporation. Corporation to Florida Power Corporation. Distribution Line Easement-Individual to Florida Power Corporation. Corporation to Florida Power Corporation. Grant of Right to Lay Sewer Line. Agreement Between Adjoining Landowners as to Encroaching Fence. Agreement Between Adjoining Landowners Creating Driveway Easement. Agreement Regarding Excavation on Boundary Line. With Tenant. Conservation Easement-Fishing and Hunting. Scenic. XXIV Wetlands. Seawall Easement. Easement and Consent to Seawall. Deed Including Easements and Licenses for Ingress Egress Signage Etc., on Adjoining Land. ' ' ' Agreement Creating Mutual Easements-Commercial Property Utility Easement. Easement for Access. Easement for Ingress and Egress. Easement for Signage. Easement Agreement-Maintenance Provisions. Release of Right of Way or Other Easement-By Indorsement. By Separate Deed. Fence Agreement. Easement for Sanitary Pump Station and Underground Utilities. B. LICENSES License to Fish. License to Hunt. License to Baseball Club. License to Golf Club. Camping Permit. Agreement for Use of Land. License Agreement for Community Center. CHAPTER 21. PARTY.WALLS Agreement as to Party Wall to Be Built by Either Party. Party Wall Agreement. Agreement as to Party Wall to Be Built by One Party. Agreement That Either Party May Add to Height of Party Wall. Agreement to Build a Party Wall Entirely on Land of One Party. Agreement Settling Differences as to a Wall and Making It a Party Wall. License to Use Wall for All Time. Grant of Right to Use Wall of Adjoining Building So Long as It Stands. -- In Form of Lease. Grant of Right to Use Wall of Adjoining Building and to Extend the Same. Conveyance of a Share in a Wall So as to Make It a Party Wall. Release of Party Wall Easement.. Party Walls in Multiple Dwelling Unit. Party Wall Declaration-Duplex Residence. Agreement for Removal of Retaining Wall Encroachment. Covenants to Run With Land. Easement in Land. Reimbursement for Use of Wall. Arbitration. XXV

14 Party Wall Provision in Deed From Proprietors of a Subdivision. Proviso in Deed That It Is Subject to Party Wall Agreement. Clause in Deed From Common Grantor as to Party Wall. Clause in Deed to Other Grantee. PART IV. CONDOMINWMS CHAPTER 22. GENERAL INFORMATION ON CONDOMINIUMS Definition of Condominium. Distinguishing Condominiums From Cooperatives. Historical Development of Condominiums. Overview of Condominium Creation. Condominium Conversion. Time-Share Condominiums. Miscellaneous Statutes and Regulations to Be Considered by Condominium Developers. CHAPTER 23. CREATION OF CONDOMINIUMS; AMENDMENTS A. CHECKLISTS Initial Condominium Checklist-Information Needed. Letter to Developer Client. Condominium Formation Timetable. Information Sheet for Declaration of Condominium and Exhibits. Information Sheet for Condominium Association Articles of Incorporation. Information Sheet for Condominium Association By-laws. Information Sheet for Condominium Management Agreement. Reservation Deposit Receipt Information Form. B. FORMS Filing Checklist. Declaration of Condominium. Consent of Mortgagee. Articles of Incorporation of Association. Bylaws of Association. Rules and Regulations. Estimated Operating Budget. Management Agreement. Clerk's Receipt of Evidence of Payment of Taxes. First Amendment to Declaration of Condominium. XXVI CHAPTER 24. SALES OF CONDOMINIUMS Customer Questionnaire. Reservation Deposit Agreement. Prospectus. Condominium Unit Purchase Agreement. Addendum to Contract of Sale. Receipt for Condominium Documents. Real Property Sales Disclosure. Escrow Agreement. Closing Statement. Purchaser's Waiver of 15-Day Right to Cancel. Agreement to Close Prior to Expiration of 15-Day Voidability Period. CHAPTER 25. CONDOMINIUM TIME-SHARING ARRANGEMENTS Statutes Regulating Time-Sharing Arrangements. Cancellation Provision. Public Offering Statement Required Provision. Public Offering Statement. Declaration of Timeshare. Surveyor's Certificate. Articles of Incorporation. Bylaws. Renewable Management Agreement. Purchase Agreement. Initial Rules and Regulations. Volume 4 PART V. MORTGAGES AND OTHER REAL ESTATE LOAN DOCUMENTS CHAPTER 26. INTRODUCTION TO REAL ESTATE FINANCING Rights and Relations of the Parties. Property Subject to a Mortgage. Lien of Mortgage. Recording and Priorities. Default, Redemption, and Foreclosure. Construction of Mortgages. Governing Law. Installment Land Contracts. Absolute Deed Given as Security. Conditional Sales. Sale and Leaseback. Real Estate Settlement Procedures Act. XXVII

15 CHAPTER 27. LOAN APPLICATIONS, COMMITMENTS, LOAN AGREEMENTS, AND CLOSING DOCUMENTS A. CHECKLISTS, APPLICATIONS AND FINANCIAL STATEMENTS 27.1 Loan Closing Documents Checklist Loan Closing Figures Worksheet Application for Loan Personal Financial Statement Business Financial Statement Approval by Loan Committee Appointment of Agent to Procure ;Loan. B. COMMITMENT LETTERS Letter of Commitment Loan Commitment Letter Second Mortgage Letter Extending Loan Commitment C. LOAN AGREEMENTS Construction Loan Agreement. Construction Agreement-To Complete Construction After Closing- With Mortgage Holdback. D. CLOSING DOCUMENTS Insurance Anti-Coercion Statement. Insurance Anti-Coercion and Escrow Agreement. Notice to Borrower of Special Flood Hazard Area. Notice to Borrower-National Flood Insurance Program. Loan Settlement Statement. Construction Loan Disbursement Statement. Borrower's Affidavit. Construction Loan. Lien and Possession Affidavit. Partnership Resolution. Affidavit of Corporation. Further Assurance and Compliance Agreement. Compliance Agreement. "Name Same" Affidavit. Notice to Purchaser-Mortgagor-Regarding Mortgagee Title Insurance. Certificate of Incumbency. Environmental Indemnification Agreement. XXVIII CHAPTER 28. FEDERAL TRUTH IN LENDING ACT A. IN GENERAL Disclosure Statement-Comment. Retail Installment Truth in Lending (Regulation Z) Disclosure. Credit Sale Model Form. Loan Model Form. Mortgage With Demand Feature Sample. Variable Rate Mortgage Sample. Variable Rate Model Clauses. Assumption Policy Model Clause. Required Deposit Model Clause. Right of Rescission-Comment. Rescission Model Form-Closed-End Transaction. Rescission Model Form (Refinancing)-Closed~End Transaction. Rescission Model Form (When Opening an Account)--Open-End Transaction. Rescission Model Form (For Each Transaction)--Open-End Transaction. Rescission Model Form (When Increasing the Credit Limit)--Open End Transaction. Rescission Model Form (When Adding a Security Interest)--Open-End Transaction. Rescission Model Form (When Increasing the Security)--Open-End Transaction. Notice of Right to Cancel. B. HOME EQUITY LOANS Home Equity Loan Consumer Protection Act of CHAPTER 29. MORTGAGES AND SECURITY AGREEMENTS A. MORTGAGES Mortgage Residential Property Mortgage Non-residential Property Mortgage Mortgage-Wraparound-No Future Advances Balloon Mortgage Mortgage-FNMA/FHLMC Form Short Form Another Short Form Long Form Another Long Form Another Long Form From Corporation. XXIX

16 From Corporation to Individual. From Corporation to Corporation. To Corporation. To Corporation From Individual. Balloon. Construction Loan Mortgage. Mortgage-Long Form. B. CLAUSES FOR MORTGAGES Definition of Parties. Truth in Lending Not Applicable. Covenant of Warranty of Title. Covenant to Pay Cost of Litigation Involving Title. Incorporation by Reference of Supplemental Agreement. Homestead Disclaimer Clause. Purchase Money Mortgage Clause. Clause Against Usury. Rate of Interest After Default. Personal Property Clause. Provision for Improvements to Be Made by Mortgagor. Assignment of Royalties as Additional Security. Partial Release Clause. Another Form. Clause Creating Inferior Lien With Option to Call Inferior Note Due Upon Default on Prior Note. Provision for Possession by Mortgagor. Future Advances Clause. Modification Agreement Provisions as to Future Advances or Readvances. Dragnet Clause. Another Form. Provision Securing Advances for Taxes, Insurance and Other Liens. Covenant to Pay Indebtedness. Payment of Debt and Interest Clause. Proviso for Payment of Unliquidated Amount. Late Charges Provision. Eminent Domain Award Clause. Prepayment Clause. Prepayment Penalty Clause. XXX sec Covenant to Insure. Flood Insurance. -- With Power to Collect, Settle and Compromise. Covenant to Pay Taxes. Covenant to Pay Liens. Covenant to Pay Expenses of Litigation. Covenant to Pay Expenses to Remedy Default or Preserve Lien. Compliance With Provisions of Prior Mortgage Clause. Mortgagee's Right to Inspect Premises Clause. Covenant to Keep Premises in Repair. No Alteration Clause. Acceleration Clause. Provision Against Waiver Due to Failure to Exercise Option to Accelerate. Borrower's Right to Reinstatement After Acceleration. Due-on-Transfer Clause. Clause Precluding Sale "Subject To". Non-Merger Provision in Deed. Subordinate Mortgage Clause. Attorney's Fee Upon Foreclosure Clause. Covenant to Pay Attorney's Fees. Exemption of Mortgagor From Personal Liability Clause. Extension of Time of Payment Provision. Provision for Appointment of Receiver. Covenant as to Notice and Demand. Waiver of Demand and Presentment for Payment. Covenant for Further Assurance. Right to Skip Payments Clause. Grace Period for Borrower in Need Clause. Clause Limiting Waiver to Particular Instance. No Personal Liability Clause. No Default Clause. Application of Prepaid Amounts Clause. C. MORTGAGE-RELATED SECURITY AGREEMENTS Security Agreement. -- Construction Loan. Satisfaction of Security Agreement. Assignment of Rents, Leases, Contracts, Accounts Receivable Accounts and Deposit Accounts-Construction Loan. ' XXXI

17 CHAPTER 30. MORTGAGE NOTES AND GUARANTIES A. MORTGAGE NOTES Mortgage Note-Simple Form. Simple Demand Note. Simple Installment Note. Balloon Promissory Note. Mortgage Note-Guaranteed. Cross Default-30 Day Grace Period. Due on Sale. Interest Only Initially-Converting to Monthly Payments. Detailed Bank Form. Line of Credit. Another Form. Principal Payable in Monthly Installments-Interest Included. Promissory Note-Principal Payable in Monthly Installments-Interest Included. Installment Note. Construction Loan Mortgage Note. Installment Mortgage Note. Prepayment Penalty. Mortgage Note-Adjustable Rate. B. GUARANTIES AND MISCELLANEOUS ' Guaranty Agreement. Continuing and Unconditional Guaranty. Guaranty of Mortgage Note. Guaranty of Mortgage Note-Another Form. Assignment of Mortgage Note by Endorsement. CHAPTER 31. MISCELLANEOUS MORTGAGE-RELATED FORMS A. ASSIGNMENT OF MORTGAGES By Assignee. With Guaranty. -- As Collateral Security. -- Notice of Assignment. B. SATISFACTION OF MORTGAGES Satisfaction of Mortgage-Simple By Corporation. -- Form. C. RELEASE OF MORTGAGES Partial Release of Mortgage-Simple Form. By Corporation. Another Form. Release of Part of Land Covered by Vacant Land-Mortgage D. EXTENSION OF MORTGAGES Extension Agreement. Consent of Second Mortgagee to Extension of First Mortgage. E. SUBORDINATION AGREEMENTS Clause. Multiparty Subordination of Mortgage. Unilateral Subordination of Mortgage. Mortgage Subordination Agreement. Mortgage Subordination Agreement and Consent. Provision That Mortgagee Will Subordinate to a Later First Mortgage Automatic Subordination Clause Assignment of Mortgage. From Corporation. By Endorsement. XXXII F. ASSUMPTION AGREEMENTS A~eement Between Mortgagor, Mortgagee and Purchaser for Assumption o~ Mortgage by Purchaser arid Release of Mortgagor Assumption Agreement with Release Mortgage Assumption Agreement With Release Modification and Assumption Agreement With Release. 4 Flalegal Fonns-Real Estate Transactions-2 XXXIII

18 G. MODIFICATIONS Modification of Note and Mortgage. Mortgage Modification Agreement-Extending H. FUTURE ADVANCES Maturity Future Advance and Note and Mortgage Modification, Extension and Consolidation Agreement Future Advance Note. I. MISCELLANEOUS MORTGAGE-RELATED FORMS Consent of Purchaser in Possession to Mortgage Letter of Consent to Not Exercise Due-On-Transfer Provision. PART VI. LANDLORD AND TENANT CHAPTER 32. GENERAL INFORMATION AND AGREEMENTS FOR LEASES A. GENERAL INFORMATION Introduction. Lease Defined. Form and Execution of Lease. Essential Parts of Lease. Contents Generally. Fraud and Other Infirmities. Implied Easements. Proviso for Re-entry. Memorandum of Lease. Checklist for Drafting Leases. B. AGREEMENTS FOR LEASES General Form of Agreement to Lease. Agreement for Lease of Dwelling House. Agreement for Lease of Office Building-Letter Form. Agreement for Lease to Be Granted on Termination of Existing Lease-New Tenant to Make Alterations. Agreement for Lease of Building to Be Constructed in Accordance With Plans Approved by the Parties-Percentage of Gross Receipts with Minimum Guaranteed Rental. Agreement Conferring Option to Take Lease. A Contract for a Lease. XXXIV CHAPTER 33. RESIDENTIAL TENANCIES A. APPLICATIONS Rental Application. Authorization to Obtain Account Information. B. DWELLING HOUSE LEASES Lease-Common Form. Short Form. House Lease. Residential Lease. Dwelling House Lease-Long Form. Furnished House Lease. -- Short Term and Month-to-Month. Dwelling House Lease-With Options for Renewal and Purchase. -- With Options for Renewal and Purchase-Another Form. Dwelling Lease. Lease Agreement. C. APARTMENT LEASES Apartment Lease-General Form. -- With Rules and Regulations. Furnished Apartment Lease-With Apartment Lease-Another Form. Garage Apartment Lease. D. CONDOMINIUM LEASES Rules and Regulations. Condominium Lease-Short Form. -- Furnished. Residential Condominium Lease. Condominium Lease-Another Form. Lease With Option to Purchase-Lessee's Form. Condominium Apartment Lease-With Purchase Option. E. MISCELLANEOUS Security Deposit Information to Our Tenants. Forwarding Address Notice. Resident Admission Agreement. XXXV