EFTA01081059.pdf

i• "AS IS" Residential Contract For Sale And Purc THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR hase e es -7E.11. ESTATE . von IC:AGE TrLf7 PARTIES: FLORENCE M. MCNIFF r and AND OR HER ASSIGNS ("Seller), 3 agree that Seller shall sell and Buyer shall buy ) the following described Real Prope 4 (collectively 'Property') pursuant to the terms and condit rty and Personal Property ions of this AS IS Residential Contract For 5 any riders and addenda ("Contract"): Sale And Purchase and 1. PROPERTY DESCRIPTION: 7' (a) Street address, city, zip: a' (b) Property is located in' PALM BEACH County. Florida. Real (I Real Property: The legal description is BENT TREE VILLAS WESTProperty Tax ID No.: 42- - 4.16-001-1011 10 COND UNIT 1-101-A 11 12 together with all existing improvements and fixture includ 13 s, ing built-in appliances, built-in furnishings and wall-to-wall carpeting and flooring ("Real Property") attached 14 unless specifically excluded in Paragraph 1(e) of this Contract. or by other terms 15 (d) Personal Property: Unless excluded in Paragraph 1(e) or by other terms of this Contract, the 16 are owned by Seller and existing on the Property as of following items which 17 the date of the initial offer are included in range(s)/oven(s), refrigerator(s), dishwasher(s), disposal, the purchase: 18 ceiling fan(s), intercom, light fixture(s), drapery draperies, blinds. window treatments, smoke detect rods and or(s), garage door opener(s), security gate and 19 devices, and storm shutters/panels ("Personal Property"). other access 20' Other Personal Property items included in this purchase are: WASHER. DRYER 21 22 Personal Property is included in the Purchase Price, has no contributory value, and shall be left 23' (e) The following items are excluded from the purcha for the Buyer. se: 24 25 PURCHASE PRICE AND CLOSING 28' 2. PURCHASE PRICE (U.S. currency) 27' (a) Initial deposit to be held in escrow in the amoun of $ 130.000.00 t (checks subject to COLLECTION) $ 28 The initial deposit made payable and delivered to 1,000.00 'Escrow Agent" named below ra• (CHECK ONE): (1) 0 accompanies offer or (ii) a is to be made within 2 (if left blank, 30 then 3) days after Effective Date. IF NEITHER BOX IS 31 CHECKED, THEN OPTION (0) SHALL BE DEEMED SELECTED. 32' Escrow Agent Information. Name: KEYES COMPANY 33' Address: 34' Phone. E-mail: s5. (b) Additional deposit to be delivered to Escrow Agent Fax: within 10 (if left blank, then 10) 36* days after Effective Date 37 (All deposits paid or agreed to be paid, are collectively $ 9.000.00 referred to as the "Deposit") ar (9 Financing: Express as a dollar amount or percen tage ("Loan Amount") see Paragraph 8 sr (d) Other: 40 (e) Balance to close (not including Buyer's closing S costs, prepaids and prorations) by wire 41' transfer or other COLLECTED funds 42 NOTE: For the definition of "COLLECTION" or $ 120,000.00 "COLLECTED" see STANDARD S. 43 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS; EFFECTIVE DATE: 44' (a) If not signed by Buyer and Seller, and an executed copy delivered to all parties on or before July 1. 2015 45' this offer shall be deemed withdrawn and the 46 Buyer. Unless otherwise stated, time for acceptance Depos it, if any, shall be returned to 47 of any counter-offers shall be within 2 days counter-offer is delivered. after the day the se (b) The effective date of this Contract shall be the date when the last one of the Buyer 49 and delivered this offer or final counter-offer ("Effec and Seller has signed or initialed tive Date'). so 4. CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this 51 the closing documents required to be furnished by each transaction shall occur and party pursuant to this Contract shall be deliver sr July 31, 2015 ("Closing Date"), at the time established by the Closin ed ("Closing") on 53 3. EXTENSION OF CLOSING DATE: g Agent. s4 (a) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In 55 requirements, Closing shall be extended for such Lending Act (TILA) notice sa period necessary to satisfy TILA notice require exceed 7 days. ments, not to Buyers Initials Page 1 of 11 FloridaRealtors/F on a ar- SIS-3 Rev.9/14 OP 2014 Florida Reallorsaand Seller's Initials The Florida Bar All rights reserved. Simmer 0440234001434681317 :tronicallv Sinned AMAMI oCinnnnlinoW1 Cocci"... In . AC4- Ann..4 • C;c•nocl ncinn ASinnfinlinATuf Sceeinn in • chRstangifl-r.74.5-47R5-Adurl'ILHIWR1hArARA. 1 EFTA01081059  57 (b) If extreme weather or other condition or event constituting "Force Majeure' (see STANDARD G) causes: (i) sa disruption of utilities or other services essential for Closing or (ii) Hazard, Wind, Flood or Homeowners' insurance, se to become unavailable prior to Closing, Closing shall be extended a reasonable time up to 3 days after restoration so of utilities and other services essential to Closing and availability of applicable Hazard, Wind. Flood or 61 Homeowners' insurance. If restoration of such utilities or services and availability of insurance has not occurred 82' within (if left blank, then 14) days after Closing Date. then either party may terminate this Contract by 63 delivering written notice to the other party, and Buyer shall be refunded the Deposit, thereby releasing Buyer and 64 Seller from all further obligations under this Contract. 85 6. OCCUPANCY AND POSSESSION: es (a) Unless the box in Paragraph 6(b) is checked, Seller shall, at Closing, deliver occupancy and possession of the 67 Property to Buyer free of tenants, occupants and future tenancies. Also, at Closing, Seller shall have removed all 68 personal items and trash from the Property and shall deliver all keys, garage door openers, access devices and 69 codes, as applicable, to Buyer. If occupancy is to be delivered before Closing, Buyer assumes all risks of loss to the 70 Property from date of occupancy, shall be responsible and liable for maintenance from that date, and shall be 71 deemed to have accepted the Property in its existing condition as of time of taking occupancy. 72' (b) El CHECK IF PROPERTY IS SUBJECT TO LEASE(S) OR OCCUPANCY AFTER CLOSING. If Property is /3 subject to a lease(s) after Closing or is intended to be rented or occupied by third parties beyond Closing, the facts 74 and terms thereof shall be disclosed in writing by Seller to Buyer and copies of the written lease(s) shall be 75 delivered to Buyer, all within 5 days after Effective Date. If Buyer determines, in Buyer's sole discretion, that the 76 lease(s) or terms of occupancy are not acceptable to Buyer, Buyer may terminate this Contract by delivery of 77 written notice of such election to Seller within 5 days after receipt of the above items from Seller, and Buyer shall be 7a refunded the Deposit thereby releasing Buyer and Seller from all further obligations under this Contract. Estoppel 79 Letter(s) and Sellers affidavit shall be provided pursuant to STANDARD D. If Property is intended to be occupied 80 by Seller after Closing, see Rider U. POST-CLOSING OCCUPANCY BY SELLER. 81' 7. ASSIGNABILITY: (CHECK ONE): Buyer El may assign and thereby be released from any further liability under this 82' Contract; 0 may assign but not be released from liability under this Contract; or 0 may not assign this Contract. 83 FINANCING 84 8. FINANCING: 85' I: (a) Buyer will pay cash or may obtain a loan for the purchase of the Property. There is no financing contingency to se Buyer's obligation to close . 87' 0 (b) This Contract is contingent upon Buyer obtaining a written loan commitment for a 0 conventional 0 FHA 0 VA 813- or 0 other (describe) loan on the following terms within (if left blank, then 30) days after 89' Effective Date ("Loan Commitment Date') for (CHECK ONE): 3 fixed, 0 adjustable, fl fixed or adjustable rate loan in 90' the Loan Amount (See Paragraph 2(1), at an initial interest rate not to exceed % (if left blank, then prevailing 91' rate based upon Buyer's creditworthiness). and for a term of (if left blank, then 30) years ('Financing"). 92' Buyer shall make mortgage loan application for the Financing within (if left blank, then 5) days after Effective 93 Date and use good faith and diligent effort to obtain a written loan commitment for the Financing ('Loan Commitment") sal and thereafter to close this Contract. Buyer shall keep Seller and Broker fully informed about the status of mortgage 95 loan application and Loan Commitment and authorizes Buyer's mortgage broker and Buyer's lender to disclose such 96 status and progress to Seller and Broker. 9/ 98 Upon Buyers receipt of Loan Commitment, Buyer shall provide written notice of same to Seller. If Buyer does not as receive Loan Commitment by Loan Commitment Date, then thereafter either party may cancel this Contract up to the ma earlier of: 101 (i.) Buyer's delivery of written notice to Seller that Buyer has either received Loan Commitment or elected to 102 waive the financing contingency of this Contract; or 103 (ii.) 7 days prior to Closing Date. 104 If either party timely cancels this Contract pursuant to this Paragraph B and Buyer is not in default under the terms of 105 this Contract, Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under 106 this Contract. If neither party has timely canceled this Contract pursuant to this Paragraph 8, then this financing 107 contingency shall be deemed waived by Buyer. 108 If Buyer delivers written notice of receipt of Loan Commitment to Seller and this Contract does not thereafter close, the log Deposit shall be paid to Seller unless failure to close is due to: (1) Seller's default; (2) Property related conditions of the 110 Loan Commitment have not been met (except when such conditions are waived by other provisions of this Contract); (3) Ili appraisal of the Property obtained by Buyers lender is insufficient to meet terms of the Loan Commitment; or (4) the 112 loan is not funded due to financial failure of Buyer's lender, in which event(s) the Deposit shall be returned to Buyer, 113 thereby releasing Buyer and Seller from all further obligations under this Contract. Buyer's Indittssr. Page 2 of 11 Seller's Initials 1111 FloridaReall daBar-ASIS•3 Rev.9/14 O 2014 Florida Realtors. and The Florida Bar. All rights reserved. Sewell 041023.2001436683377 . ••••.• ann.. • ••••••• -• ••••• •••••••••• • Plartrnnirollv Sidnarl i mann pRinnelnlinAlmf coccinn in • eRdaetitAaOA5-47R-IlotieallIrrAlhArAttia 1 EFTA01081060  114' 0 (4 Assumption of existing mortgage (see rider for terms) 115' 0 (d) Purchase money note and mortgage to Seller (see riders; addenda: or special clauses for terms). 118 CLOSING COSTS, FEES AND CHARGES 117 9. CLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS: 118 (a) COSTS TO BE PAID BY SELLER: 119 • Documentary stamp taxes and surtax on deed, if any • HOA/Condominium Association estoppel fees 120 • Owner's Policy and Charges (if Para raph 9( (i) is checked) • Recording and other fees needed to cure title 121 • Title search charges (if Paragraph 9( (iii) is c ecked) • Sellers attorneys' fees 122' • Municipal lien search (if Paragraph 9( (i) or (iii) is checked) • Other: 129 If, prior to Closing, Seller is unable o meet the AS IS Maintenance Requirement as required by Paragraph 11 a 124 sum equal to 125% of estimated costs to meet the AS IS Maintenance Requirement shall be escrowed at Closing. If 125 actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount. Seller shall pay such actual 126 costs. Any unused portion of escrowed amount(s) shall be returned to Seller. 127 (b) COSTS TO BE PAID BY BUYER: 128 • Taxes and recording fees on notes and mortgages • Loan expenses 129 • Recording fees for deed and financing statements • Appraisal fees 130 • Owners Policy and Charges (if Paragraph 91(ii) is checked) • Buyer's Inspections 131 • Survey (and elevation certification, if required • Buyer's attorneys' fees 132 • Lender's title policy and endorsements • All property related insurance 133 • HONCondominium Association application/transfer fees • Owners Policy Premium (if Paragraph 134 135' • Municipal lien search (if Paragraph 94 (ii) is checked) Other: 4 (iii) 9 is checked.) 136' (# TITLE EVIDENCE AND INSURANCE: At least (if left blank, then 5) days prior to Closing Date, a title 137 insurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed as 136 exceptions attached thereto ("Title Commitment') and. after Closing, an owner's policy of title insurance (see 139 STANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of title insurance 140 covering the Real Property, a copy shall be furnished to Buyer and Closing Agent within 5 days after Effective Date. 141 The owner's title policy premium, title search and closing services (collectively, "Owner's Policy and Charges') shall 142 be paid. as set forth below 143 (CHECK ONE): 144• g (i) Seller shall designate Closing Agent and pay for Owner's Policy and Charges (but not including charges for 145 closing services related to Buyer's lender's policy and endorsements and loan closing, which amounts shall be paid 146 by Buyer to Closing Agent or such other provider(s) as Buyer may select): or 147' 0 (ii) Buyer shall designate Closing Agent and pay for Owner's Policy and Charges and charges for closing 148 services related to Buyer's lender's policy. endorsements. and loan closing; or 149' O (iii) (MIAMI-DADE/BROWARD REGIONAL PROVISION]: Seller shall furnish a copy of a prior owner's policy of 150 title insurance or other evidence of title and pay fees for: (A) a continuation or update of such title evidence, which 151 is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; and (1 municipal lien 152 search. Buyer shall obtain and pay for post-Closing continuation and premium for Buyers owners policy, and if 153' applicable, Buyers lenders policy. Seller shall not be obligated to pay more than $ (if left blank, 154 then $200.00) for abstract continuation or title search ordered or performed by Closing Agent. 155 (d) SURVEY: At least 5 days prior to Closing, Buyer may, at Buyers expense, have the Real Property surveyed and 156 certified by a registered Florida surveyor ("Survey'). If Seller has a survey covering the Real Property, a copy shall 157 be furnished to Buyer and Closing Agent within 5 days after Effective Date. 158' (e) HOME WARRANTY: At Closing, 0 Buyer 0 Seller 0 N/A shall pay for a home warranty plan issued by 159' at a cost not to exceed $ . A home 160 warranty plan provides for repair or replacement of many of a home's mechanical systems and major built-in 161 appliances in the event of breakdown due to normal wear and tear during the agreement's warranty period. 182 (f) SPECIAL ASSESSMENTS: At Closing, Seller shall pay: (i) the full amount of liens imposed by a public body 163 ("public body' does not include a Condominium or Homeowner's Association) that are certified, confirmed and 164 ratified before Closing; and (ii) the amount of the public body's most recent estimate or assessment for an 165 improvement which is substantially complete as of Effective Date, but that has not resulted in a lien being imposed 166 on the Property before Closing. Buyer shall pay all other assessments. If special assessments may be paid in 167 installments (CHECK ONE): 168' 0 (a) Seller shall pay installments due prior to Closing and Buyer shall pay installments due after Closing. 169 Installments prepaid or due for the year of Closing shall be prorated. 170' 0 (b) Seller shall pay the assessment(s) in full prior to or at the time of Closing. 171 IF NEITHER BOX IS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED. Buyers Initials (O1\- )C Page 3 of 11 Sellers Initials FloridaRealtorstFloridaBarASIS-3 Rev.9/14 43 2014 Florida Realtorsoand The Florida Bar. All rights reserved. Spina 0440x1200143449327 artrnniroliti einnezei rein" ete•nalnal/mr. fl it ...^.3-nnt- AC 4 .41,414 • • Cielf4fAniro litt cinnon liainn Race-inn in PA4aPCIM-1,74S-47A5Aggici-rirtrrA 1 hArfiftp 1 EFTA01081061  172 This Paragraph 9(f) shall not apply to a special benefit tax lien imposed by a community developmen t district (COO) 173 pursuant to Chapter 190, F.S., which lien shall be prorated pursuant to STANDARD K. 174 DISCLOSURES 175 10. DISCLOSURES: 176 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in sufficient 177 quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal 178 and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon 179 testing may be obtained from your county health department. 180 (b) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure, Seller 181 does not know of any improvements made to the Property which were made without required permits or made 182 pursuant to permits which have not been properly closed. 183 (t MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or 184 desires additional information regarding mold, Buyer should contact an appropriate professional . 185 (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood zone 186 the Property is in. whether flood insurance is required by Buyer's lender, and what restrictions apply to improving 187 the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area" or "Coastal 788 Barrier Resources Act' designated area or otherwise protected area identified by the U.S. Fish and Wildlife Service 189 under the Coastal Barrier Resources Act and the lowest floor elevation for the building(s) and /or flood insurance 190 rating purposes is below minimum flood elevation or is ineligible for flood insurance coverage through the National 191 Flood Insurance Program or private flood insurance as defined in 42 Il. §4012a. Buyer may terminate this 192" Contract by delivering written notice to Seller within (if left blank, then 20) days after Effective Date, and 193 Buyer shall be refunded the Deposit thereby releasing Buyer and Seller from all further obligations under this lea Contract, failing which Buyer accepts existing elevation of buildings and flood zone designation of Property. The 195 National Flood Insurance Program may assess additional fees or adjust premiums for pre-Flood Insurance Rate 196 Map (pre-FIRM) non-primary structures (residential structures in which the insured or spouse does not reside for at 197 least 50% of the year) and an elevation certificate may be required for actuarial rating. 198 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure 199 required by Section 553.996, F.S. 200 (f) LEAD-BASED PAINT: If Property includes pre-1978 residential housing, a lead-based paint disclosure is 201 mandatory. 202 (g) HOMEOWNERS' ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS 203 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS' ASSOCIATI ON/COMMUNITY 204 DISCLOSURE, IF APPLICABLE. 205 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT 206 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO 207 PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHI P OR PROPERTY 208 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER 209 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY 210 PROPERTY APPRAISER'S OFFICE FOR INFORMATION. 211 (i) FIRPTA TAX WITHHOLDING: Seller shall inform Buyer in writing if Seller is a "foreign person" as defined by the 212 Foreign Investment in Real Property Tax Act ("FIRPTA"). Buyer and Seller shall comply with FIRPTA, which may 213 require Seller to provide additional cash at Closing. If Seller is not a "foreign person". Seller can provide Buyer, at or 214 prior to Closing, a certification of non-foreign status, under penalties of perjury, to inform Buyer and Closing Agent 215 that no withholding is required. See STANDARD V for further information pertaining to FIRPTA. Buyer and Seller 216 are advised to seek legal counsel and tax advice regarding their respective rights, obligations, reporting and 217 withholding requirements pursuant to FIRPTA. 218 (j) SELLER DISCLOSURE: Seller knows of no facts materially affecting the value of the Real Property which are not 219 readily observable and which have not been disclosed to Buyer. Except as provided for in the preceding sentence, 220 Seller extends and intends no warranty and makes no representation of any type, either express or implied, as to 221 the physical condition or history of the Property. Except as otherwise disclosed in writing Seller has received no 222 written or verbal notice from any governmental entity or agency as to a currently uncorrected building, 223 environmental or safety code violation. 224 PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS 225 11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain the Property, 228 including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date ("AS IS 227 Maintenance Requirement"). Buyer's Initials C7c Page 4 of 11 Seller's FloridaRealtors/FloridaBar-ASIS-3 Rev.9/14 (7 2014 Florida Realtorsmand The Florida Bar. All rights reserved. Initials fent serum 044023.200113.5689327 artrnnirallti Cinnori 'mina" in . 4e4 - •nn.• • ClanIenninallo Cinnati iieinn Screeirm tn Pgdagiciffl-rOdS-47RS-FIMA-rinerAlhArAfte 1 EFTA01081062  228 12. PROPERTY INSPECTION: RIGHT TO CANCEL: 229' (a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shall have 10 (if left blank, then 15) days 230 after Effective Date ("Inspection Period") within which to have such inspections of the Property performed 231 as Buyer shall desire during the Inspection Period. If Buyer determines, in Buyer's sole discretion, that the 232 Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written notice of such 233 election to Seller prior to expiration of Inspection Period. If Buyer timely terminates this Contract, the 234 Deposit paid shall be returned to Buyer, thereupon, Buyer and Seller shall be released of all further 235 obligations under this Contract; however, Buyer shall be responsible for prompt payment for such 238 inspections, for repair of damage to, and restoration of, the Property resulting from such inspections , and 237 shall provide Seller with paid receipts for all work done on the Property (the preceding provision shall 238 survive termination of this Contract). Unless Buyer exercises the right to terminate granted herein, Buyer 239 accepts the physical condition of the Property and any violation of governmental, building, environmen tal, 240 and safety codes, restrictions, or requirements, but subject to Seller's continuing AS IS Maintenanc e 241 Requirement, and Buyer shall be responsible for any and all repairs and improvements required by Buyer's 242 lender. 243 (b) WALK-THROUGH INSPECTION/RE-INSPECTION: On the day prior to Closing Date, or on Closing Date prior to 244 time of Closing, as specified by Buyer. Buyer or Buyers representative may perform a walk-through (and follow-up 245 walk-through, if necessary) inspection of the Property solely to confirm that all items of Personal Property are on the 248 Property and to verify that Seller has maintained the Property as required by the AS IS Maintenance Requiremen t 247 and has met all other contractual obligations. 248 (9 SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS: If Buyer's inspection of 249 the Property identifies open or needed building permits, then Seller shall promptly deliver to Buyer all plans, written 250 documentation or other information in Sellers possession, knowledge, or control relating to improvemen ts to the 251 Property which are the subject of such open or needed Permits, and shall promptly cooperate in good faith with 252 Buyer's efforts to obtain estimates of repairs or other work necessary to resolve such Permit issues. Seller's 253 obligation to cooperate shall include Sellers execution of necessary authorizations, consents, or other documents 254 necessary for Buyer to conduct inspections and have estimates of such repairs or work prepared, but in fulfilling 255 such obligation, Seller shall not be required to expend, or become obligated to expend, any money. 258 (d) ASSIGNMENT OF REPAIR AND TREATMENT CONTRACTS AND WARRANTIES: At Buyer's option and cost, 257 Seller will, at Closing, assign all assignable repair, treatment and maintenance contracts and warranties Buyer. to 258 ESCROW AGENT AND BROKER 259 13. ESCROW AGENT: Any Closing Agent or Escrow Agent (collectively "Agent') receiving the Deposit, other funds and 280 other items is authorized, and agrees by acceptance of them, to deposit them promptly, hold same in escrow within the 281 State of Florida and, subject to COLLECTION, disburse them in accordance with terms and conditions of this Contract. 282 Failure of funds to become COLLECTED shall not excuse Buyers performance. When conflicting demands for the 283 Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent may take such actions 284 permitted by this Paragraph 13, as Agent deems advisable. IF in doubt as to Agent's duties or liabilities under this 285 Contract. Agent may. at Agent's option, continue to hold the subject matter of the escrow until the parties agree to its 288 disbursement or until a final judgment of a court of competent jurisdiction shall determine the rights of the parties, or 287 Agent may deposit same with the clerk of the circuit