Common use of Historic Districts Clause in Contracts

Historic Districts. BUYER is advised to verify with appropriate government agencies whether the 318 Property is in an historic district; if so, the Property is subject to additional guidelines and restrictions. 319 See Historic District Disclosure for further information. 320 ( I ) Other: BUYER should exercise due diligence with respect to information regarding neighborhood 321 crimes, sexual offenders/predators and any other matters BUYER deems relevant to the purchase of the 322 Property. 323 14. MAINTENANCE, INSPECTION AND REPAIR: SELLER will maintain the Property in its present condition 324 until closing, except for normal wear and tear and any agreed upon repairs/replacements/treatments. 325 BUYER and SELLER agree that the cost of inspections and investigations requested by BUYER are exempt 326 from paragraph 11 of this Agreement and will be paid by BUYER regardless of the outcome of this 327 Agreement. If BUYER elects not to have inspections and investigations performed, or fails to make a timely 328 request for repairs/replacements/treatments as set forth in this paragraph 14, XXXXX accepts the Property 329 in its “AS IS” condition as of the date of acceptance of this Agreement. BUYER will be responsible for repair 330 of all damages to the Property resulting from inspections and investigations, and XXXXX will return the 331 Property to its pre-inspection condition. These obligations shall survive termination of this Agreement. 332 (A) Access and Utilities: SELLER will make the Property available for inspections and investigations during 333 the time provided for inspections and investigations in this paragraph and, if not, the time for inspections 334 and investigations will be extended by the time access was denied. If utilities are not active at the time 335 the inspections, investigations or appraisal are to be made, SELLER will pay to have the utilities 336 activated for these purposes. 337 Within 10 days after the date of acceptance of this Agreement (“Inspection Period”), BUYER may have 338 the Property inspected and investigated by appropriately licensed inspectors or persons/entities holding 339 a Florida license to build, repair or maintain the items inspected. XXXXX and BUYER’S Broker have the 340 right to be present during all inspections and investigations. The inspections and investigations include, 341 but are not limited to: 342 (1) testing and inspecting all major appliances, heating, cooling, mechanical, electrical and plumbing 343 systems, well and septic (including drain field systems), the roof, pool and pool equipment, defective 344 drywall, defective flooring, mold, drainage, radon gas and environmental and sinkhole conditions; 345 (2) inspecting for active infestation and/or damage from termites and other wood-destroying organisms; 346 and 347 (3) verifying that condominium/homeowner’s association insurance is satisfactory to BUYER’s lender, 348 verifying square footage measurements, and reviewing applicable zoning and historic classifications, 349 covenants, restrictions, easements, rules, and other governing documents affecting the Property. 350 If BUYER determines, in BUYER’s sole discretion, that the Property is not acceptable to BUYER, 351 BUYER may prior to the expiration of the Inspection Period: 352 • terminate this Agreement by delivering written notice of such election to SELLER together with a 353 copy of all written reports, if any, of inspections and investigations if such reports are requested by 354 SELLER; or 355 • submit BUYER’s written request to SELLER for repairs/replacements/treatments, together with a copy 356 of all written reports, if any, of inspections and investigations. BUYER and SELLER shall have 7 357 days from SELLER’s receipt of such request within which to enter into a written agreement for 358 repairs/replacements/treatments, failing which this Agreement shall be deemed terminated. 359 If this Agreement is terminated as provided in this paragraph, BUYER and SELLER shall be released 360 from all further obligations under this Agreement except as otherwise provided in this paragraph 14. 361 Prior to the binder deposit(s) being delivered to BUYER, BUYER shall provide SELLER with paid 362 receipts for all investigations and inspections, if any. 363 BUYER shall be responsible for prompt payment for all of BUYER’s inspections and investigations. 364 XXXXX agrees to indemnify and hold SELLER harmless from all losses, damages, claims, suits, and 365 costs which may arise out of any contract, agreement, or injury to any person or property as a result of 366 any activities of BUYER and BUYER’s agents and representatives relating to inspections and 367 investigations except for any losses, damages, claims, suits, or costs arising out of pre-existing 368 conditions of the Property or out of SELLER’s negligence, willful acts or omissions. 369 SELLER shall have any agreed upon repairs/replacements/treatments completed by appropriately 370 licensed persons within 10 days of entering into a written agreement for such with BUYER and receipt 371 by SELLER of written notice of XXXXX’s loan approval, if applicable. SELLER shall notify BUYER in 372 writing upon completion of all agreed upon repairs/replacements/treatments and provide BUYER with 373 copies of all receipts for same at that time. BUYER may, within 3 days after receipt of SELLER’s written 374 notice and delivery of such receipts, reinspect the Property solely to verify that SELLER has completed 375 the agreed upon repairs/replacements/treatments. No other repair/replacement/treatment issues may be 376 raised as a result of this reinspection. 377 Walk-Through: Prior to closing, BUYER may walk through the Property solely to verify that SELLER has 378 maintained the Property in the condition required in this Agreement.

Historic Districts. BUYER is advised to verify with appropriate government agencies whether the 318 319 Property is in an historic district; if so, the Property is subject to additional guidelines and restrictions. 319 320 See Historic District Disclosure for further information. 320 321 ( I ) Other: BUYER should exercise due diligence with respect to information regarding neighborhood 321 322 crimes, sexual offenders/predators and any other matters BUYER deems relevant to the purchase of the 322 323 Property. 323 324 14. MAINTENANCE, INSPECTION AND REPAIR: SELLER will maintain the Property in its present condition 324 325 until closing, except for normal wear and tear and any agreed upon repairs/replacements/treatments. 325 326 BUYER and SELLER agree that the cost of inspections and investigations requested by BUYER are exempt 326 327 from paragraph 11 of this Agreement and will be paid by BUYER regardless of the outcome of this 327 328 Agreement. If BUYER elects not to have inspections and investigations performed, or fails to make a timely 328 329 request for repairs/replacements/treatments as set forth in this paragraph 14, XXXXX BUYER accepts the Property 329 330 in its “AS IS” condition as of the date of acceptance of this Agreement. BUYER will be responsible for repair 330 331 of all damages to the Property resulting from inspections and investigations, and XXXXX BUYER will return the 331 332 Property to its pre-inspection condition. These obligations shall survive termination of this Agreement. 332 333 (A) Access and Utilities: SELLER will make the Property available for inspections and investigations during 333 334 the time provided for inspections and investigations in this paragraph and, if not, the time for inspections 334 335 and investigations will be extended by the time access was denied. If utilities are not active at the time 335 336 the inspections, investigations or appraisal are to be made, SELLER will pay to have the utilities 336 337 activated for these purposes. 337 338 Within 10 days after the date of acceptance of this Agreement (“Inspection Period”), BUYER may have 338 339 the Property inspected and investigated by appropriately licensed inspectors or persons/entities holding 339 340 a Florida license to build, repair or maintain the items inspected. XXXXX BUYER and BUYER’S Broker have the 340 341 right to be present during all inspections and investigations. The inspections and investigations include, 341 342 but are not limited to: 342 343 (1) testing and inspecting all major appliances, heating, cooling, mechanical, electrical and plumbing 343 344 systems, well and septic (including drain field systems), the roof, pool and pool equipment, defective 344 345 drywall, defective flooring, mold, drainage, radon gas and environmental and sinkhole conditions; 345 346 (2) inspecting for active infestation and/or damage from termites and other wood-destroying organisms; 346 347 and 347 348 (3) verifying the cost and availability of insurance, that condominium/homeowner’s association insurance 349 is satisfactory to BUYER’s lender, 348 verifying square footage measurements, and reviewing applicable 350 zoning and historic classifications, 349 covenants, restrictions, easements, rules, and other governing 351 documents affecting the Property. 350 352 If BUYER determines, in BUYER’s sole discretion, that the Property is not acceptable to BUYER, 351 353 BUYER may prior to the expiration of the Inspection Period: 352 • 354  terminate this Agreement by delivering written notice of such election to SELLER together with a 353 355 copy of all written reports, if any, of inspections and investigations if such reports are requested by 354 356 SELLER; (delivery of the NEFAR Release of Deposit and Cancellation of Purchase and Sale 357 Agreement is not sufficient as a written notice of termination) or 355 • 358  submit BUYER’s written request to SELLER for repairs/replacements/treatments, together with a copy 356 359 of all written reports, if any, of inspections and investigations. BUYER and SELLER shall have 7 357 360 days from SELLER’s receipt of such request within which to enter into a written agreement for 358 361 repairs/replacements/treatments. If BUYER and SELLER have not entered into such written 362 agreement within the 7 days, failing which then BUYER may terminate this Agreement shall by giving written 363 notice of termination to SELLER within 3 days after the 7 days, or be deemed terminatedto have accepted 364 the Property without repairs/replacements/treatments except as may otherwise be provided in 365 this Agreement. 359 BUYER'S request for repairs/replacements/treatments or written agreement 366 between BUYER and SELLER as to same shall not eliminate BUYER's right to terminate this 367 Agreement at any time within the Inspection Period. 368 If this Agreement is terminated as provided in this paragraph, BUYER and SELLER shall be released 360 369 from all further obligations under this Agreement except as otherwise provided in this paragraph 14. 361 370 Prior to the binder deposit(s) being delivered to BUYER, BUYER shall provide SELLER with paid 362 371 receipts for all investigations and inspections, if any. 363 372 BUYER shall be responsible for prompt payment for all of BUYER’s inspections and investigations. 364 XXXXX 373 BUYER agrees to indemnify and hold SELLER harmless from all losses, damages, claims, suits, and 365 374 costs which may arise out of any contract, agreement, or injury to any person or property as a result of 366 375 any activities of BUYER and BUYER’s agents and representatives relating to inspections and 367 376 investigations except for any losses, damages, claims, suits, or costs arising out of pre-existing 368 377 conditions of the Property or out of SELLER’s negligence, willful acts or omissions. 369 378 SELLER shall have any agreed upon repairs/replacements/treatments completed by appropriately 370 379 licensed persons within 10 days of after entering into a written agreement for such with BUYER and receipt 371 380 by SELLER of written notice of XXXXXBUYER’s loan approval, if applicable. SELLER shall notify BUYER in 372 381 writing upon completion of all agreed upon repairs/replacements/treatments and provide BUYER with 373 382 copies of all receipts for same at that time. BUYER may, within 3 days after receipt of SELLER’s written 374 383 notice and delivery of such receipts, reinspect the Property solely to verify that SELLER has completed 375 384 the agreed upon repairs/replacements/treatments. No other repair/replacement/treatment issues may be 376 385 raised as a result of this reinspection. 377 386 Walk-Through: Prior to closing, BUYER may walk through the Property solely to verify that SELLER has 378 387 maintained the Property in the condition required in this Agreement.

Historic Districts. BUYER is advised to verify with appropriate government agencies whether the 318 298 Property is in an historic district; if so, the Property is subject to additional guidelines and restrictions. 319 299 See Historic District Disclosure for further information. 320 300 ( I ) Other: BUYER should exercise due diligence with respect to information regarding neighborhood 321 301 crimes, sexual offenders/predators and any other matters BUYER deems relevant to the purchase of 302 the 322 Property. 323 303 14. MAINTENANCE, INSPECTION AND REPAIR: SELLER will maintain the Property in its present condition 324 304 until closing, except for normal wear and tear and any agreed upon repairs/replacements/treatments. 325 , 305 BUYER and SELLER agree that the cost of inspections and investigations requested by BUYER are 306 exempt 326 from paragraph 11 of this Agreement and will be paid by BUYER regardless of the outcome of this 327 307 Agreement. If BUYER elects not to have inspections and investigations performed, or fails to make a timely 328 308 request for repairs/replacements/treatments as set forth in this paragraph 14, XXXXX BUYER accepts the Property 329 309 in its “AS IS” condition as of the date of acceptance of this Agreement. BUYER will be responsible for 310 repair 330 of all damages to the Property resulting from inspections and investigations, and XXXXX BUYER will return 311 the 331 Property to its pre-inspection condition. These obligations shall survive termination of this Agreementagreement. 332 312 (A) Access and Utilities: SELLER will make the Property available for inspections and investigations 313 during 333 the time provided for inspections and investigations in this paragraph paragraph, and, if not, the time for 314 inspections 334 and investigations will be extended by the time access was denied. If utilities are not active 315 at the time 335 the inspections, investigations or appraisal are to be made, SELLER will pay to have the 316 utilities 336 activated for these purposes. 337 317 Within 10 days after the date of acceptance of this Agreement (“Inspection Period”), BUYER may have 338 318 the Property inspected and investigated by appropriately licensed inspectors or persons/entities 319 holding 339 a Florida license to build, repair or maintain the items inspected. XXXXX and BUYER’S Broker have the 340 right to be present during all inspections and investigations. The inspections and 320 investigations include, 341 but are not limited to: 342 321 (1) testing and inspecting all major appliances, heating, cooling, mechanical, electrical and plumbing 343 322 systems, well and septic (including drain field systems), the roof, pool and pool equipment, defective 344 drywall, defective flooring, mold, drainage, radon gas 323 and environmental and sinkhole conditions; 345 324 (2) inspecting for active infestation and/or damage from termites and other wood-destroying 325 organisms, defective drywall and mold; 346 and 347 326 (3) verifying that condominium/homeowner’s association insurance is satisfactory to BUYER’s lender, 348 verifying square footage measurementsfoot measurement, and reviewing applicable zoning and historic classifications, 349 327 covenants, restrictions, easements, rules, and other governing documents affecting the Property. 350 328 If BUYER determines, in BUYER’s sole discretion, that the Property is not acceptable to BUYER, 351 329 BUYER may prior to the expiration of the Inspection Period: 352 • 330  terminate this Agreement by delivering written notice of such election to SELLER together with a 353 331 copy of all written reports, if any, reports of inspections and investigations if such reports are requested by 354 SELLERinvestigations; or 355 • 332  submit BUYER’s written request to SELLER for repairs/replacements/treatments, if any, together 333 with a copy 356 of all written reports, if any, reports of inspections and investigations. BUYER and SELLER shall 334 have 7 357 5 days from SELLER’s receipt of such request within which to enter into a written 335 agreement for 358 repairs/replacements/treatments, failing which this Agreement shall be 336 deemed terminated. 359 337 If this Agreement is terminated as provided in this paragraph, BUYER and SELLER shall be released 360 338 from all further obligations under this Agreement except as otherwise provided in this paragraph 14. 361 339 Prior to the binder deposit(s) being delivered to BUYER, BUYER shall provide SELLER with paid 362 340 receipts for all investigations and inspections, if any. 363 341 BUYER shall be responsible for prompt payment for all of BUYER’s inspections and investigations. 364 XXXXX 342 BUYER agrees to indemnify and hold SELLER harmless from all losses, damages, claims, suits, and 365 343 costs which may arise out of any contract, agreement, or injury to any person or property as a result of 366 344 any activities of BUYER and BUYER’s agents and representatives relating to inspections and 367 345 investigations except for any losses, damages, claims, suits, or costs arising out of pre-existing 368 346 conditions of the Property or out of SELLER’s negligence, willful acts or omissions. 369 347 SELLER shall have any agreed upon repairs/replacements/treatments completed by appropriately 370 348 licensed persons within 10 days of entering into a written agreement for such with BUYER and receipt 371 349 by SELLER of written notice of XXXXXBUYER’s loan approval, if applicable. SELLER shall notify BUYER in 372 350 writing upon completion of all agreed upon repairs/replacements/treatments and provide BUYER with 373 351 copies of all receipts for same at that time. BUYER may, within 3 days after receipt of SELLER’s 352 written 374 notice and delivery of such receipts, reinspect the Property solely to verify that SELLER has 353 completed 375 the agreed upon repairs/replacements/treatments. No other repair/replacement/treatment 354 issues may be 376 raised as a result of this reinspection. 377 355 Walk-Through: Prior to closing, BUYER may walk through the Property solely to verify that SELLER 356 has 378 maintained the Property in the condition required in this Agreement.