1A FNMA ADDENDUMS 123010[1]

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INSTRUCTIONS FOR PRESENTING OFFER

1) IN ADDITION TO OUR SPECIAL ADDENDUMS, PLEASECOMPLETE THE ENCLOSED SALES CONTRACT.

2) PLEASE EMAIL ALL COMPLETED CONTRACTS ANDADDENDUMS [email protected].

3) PLEASE HAVE YOUR CUSTOMER INITIAL ALL FNMAADDENDUMS AT THE BOTTOM OF EACH PAGE.

4) ALL ESCROW DEPOSITS WILL BE HELD BY THE LISTINGOFFICE.

5) FOR CASH OFFERS, IT IS SUGGESTED THE ESCROWDEPOSIT AMOUNT BE EQUAL TO 10% OF THE SALES PRICE.

6) PLEASE DELIVER ALL ESCROW DEPOSITS TO THELISTING OFFICE UPON VERBAL ACCEPTANCE IN THE FORMOF A CASHIERS CHECK.

7) RESPONSE TIME TO OFFERS IS USUALLY WITHIN 24HOURS.

8) UPON VERBAL ACCEPTANCE SELLING AGENT WILLNEED TO DELIVER ONE CLEAN ORIGINAL CONTRACT ALONGWITH ALL ESCROW DEPOSITS TO THE LISTING OFFICEWITHIN 24 HOURS.

9) IT IS RECOMMENDED OFFERS BE PRESENTED WITH APREAPPROVAL LETTER FROM A LENDER AND/ORHOMEPATH MORTGAGE. IF CASH, PROOF OF FUNDS.

10) OUR OFFICE IS LOCATED AT 8125 SW 120 ST,PINECREST, FL 33156

PLEASE GO TO HOMEPATH.COM TO GET PRE-APPROVED.

HOMEPATH.COM
mailto:[email protected]:[email protected]:[email protected]:[email protected]

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OFFER INPUT(Please type or print clearly all information.)

Offer Information

Property Address: ___________________________

Offer Amount: ______________________________

Lender/Banks Name: ________________________

Type of Financing: _________________________

Loan Commitment Date: ______________________

Down Payment: _____________________________

Amount Financed: ___________________________

Escrow Amount: ____________________________

Purchase type: Owner___ Investor___

Closing date: ______________________

Sellers concessions: _________________________

(If cash offer, please include proof of funds, If financed please provide prequalification letter)

Buyers Information

Buyers Name: ______________________

Marital Status: ______________________

Agent Information

Agents Name: ____________________________

License #: _______________________________

Company: _______________________________

Office Phone: ____________________________

Cell Phone: ______________________________

E-mail Address: ___________________________

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Low down payment and flexible

mortgage terms (fixed-rate, adjustable-

rate, or interest-only)

You may qualify even if your credit is

less than perfect

Available to both owner-occupants

and investors

Down payment (at least 3 percent)

can be funded by your own savings;

a gift; a grant; or a loan from anonprofit organization, state or local

government, or employer

No mortgage insurance (ask your

lender for cost details on loans without

mortgage insurance)

No appraisal fees

HomePath Mortgage financing is

available from a variety of lenders

both local and national. To find one in

your area, go to:

Buy this home with HomePathMortgage Financing

HP003_8001 Fannie Mae. All rights reserved.

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REO #

REAL ESTATE PURCHASE ADDENDUM

This Real Estate Purchase Addendum ("Addendum") is to be made part of, and incorporated into, the Real Estate Purchase

Contract (the "Contract") between __________________________________________________________________FANNIE MAE ("Seller")and _________________________________________________________________________ ("Purchaser") for the property

and improvements located at the following address: ___________________________________________________________

_________________________________________________________________________________________ ("Property"). Asused in this Addendum, the Contract, Addendum and any riders thereto shall be collectively referred to as the "Agreement".

The Seller and the Purchaser agree as follows:

1. Offer:

(a) Acknowledgement of Sufficient Offer: The Purchaser has offered to purchase the property for a purchaseprice in the amount of $______________________ in accordance with the terms set forth in the Agreement("Offer"). The Seller has reviewed the Offer and deemed it materially sufficient on_____________________, 20____ ("Acknowledgement Date").

(b) Acceptance of Offer: Notwithstanding Seller's acknowledgement that the Offer is sufficient for acceptance,the Purchaser agrees that the Agreement remains subject to acceptance by the Seller and must be signed byall parties in order to be binding. The Agreement shall be effective as of the date of execution by Seller

("Effective Date"). The Purchaser's earnest money deposit of $_______________________ is to be placed ina trust account acceptable to the Seller within two (2) calendar days following the Effective Date. TheAgreement, signed by the Purchaser and reflecting the terms as acknowledged by the Seller, must be receivedby the Seller within five (5) calendar days of the Acknowledgement Date. If the Seller does not receive thesigned Agreement by such date, the Purchaser's offer shall be deemed null and void. As used in thisparagraph, the term "received by the Seller" means actual receipt of the Agreement by the Seller's listingagent.

The Purchaser shall present proof, satisfactory to the Seller, of the Purchaser's funds or prequalification for amortgage loan in an amount and under terms sufficient for the Purchaser to perform its obligations under thisAgreement. The prequalification shall include but is not limited to, a certification of prequalification or amortgage loan commitment from a mortgage lender, a satisfactory credit report and/or proof of fundssufficient to meet the Purchaser's obligations under the Agreement. The Purchaser's submission of proof ofprequalification is a condition precedent to the Seller's acceptance. The Seller may require the Purchaser to

obtain, at no cost to the Purchaser, loan prequalification from a Seller approved third party lender.Notwithstanding any Seller required prequalification, the Purchaser acknowledges that Purchaser is free toobtain financing from any source.

2. Time is of the Essence: Settlement Date:

(a) It is agreed that time is of the essence with respect to all dates specified in the Agreement. This means thatall deadlines are intended to be strict and absolute.

(b) The closing shall take place on a date ("Settlement Date") on or before _____________________, 20____("Expiration Date"), unless extended in writing signed by the Seller and the Purchaser or extended by theSeller under the terms of the Agreement The closing shall be held at a place so designated and approved bythe Purchaser. The Purchaser has the right to make an independent selection of their own attorney, settlementcompany, escrow company, title company and/or title insurance company in connection with the closing. Thedate the closing takes place shall be referred to as the Settlement Date for purposes of the Agreement. If theclosing does not occur by the Expiration Date, or in any extension, the Agreement is automaticallyterminated and the Seller may retain any earnest money deposit as liquidated damages.

PURCHASER (Initials) REO #

SELLER (Initials)

NPDC FORM 001 11-30-2009

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3. Financing: This Agreement (check one): (____) is, (____) is not, contingent on the Purchaser obtaining financingfor the purchase of the Property. If this Agreement is contingent on financing, the type of financing shall be thefollowing (check one):

___ Fannie Mae HomePath Mortgage Financing from a participating lender

___ Fannie Mae HomePath Renovation Financing from a participating lender

___ Conventional

___ FHA

___ VA

___ Other (specify: _____________________________________________________________________________)

All Financing. (This paragraph applies to all financing, whether or not it is Fannie Mae HomePath or otherfinancing.) If this Agreement is contingent on financing, the Purchaser shall apply for a loan in the amount of$____________________________ with a term of __________ years, at prevailing rates, terms and conditions. ThePurchaser shall complete and submit to a mortgage lender, of the Purchaser's choice, an application for a mortgageloan containing the terms set forth in this paragraph within five (5) calendar days of the Acknowledgement Date,and shall use diligent efforts to obtain a mortgage loan commitment by ____________________, 20___. If, despitethe Purchaser's diligent efforts, the Purchaser cannot obtain a mortgage loan commitment by the specified date, theneither the Purchaser or the Seller may terminate the Agreement by giving written notice to the other party. ThePurchaser's notice must include a copy of the loan application, proof of the application date, and a copy of thedenial letter from the prospective lender. In the event of a proper termination of the Agreement under thisparagraph, the earnest money deposit shall be returned to the Purchaser. The Purchaser agrees to cooperate andcomply with all requests for documents and information from the Purchaser's chosen lender during the loanapplication process. Failure of the Purchaser to comply with such requests from the lender that results in the denial

of the mortgage loan will be a breach of the Agreement and the Seller shall be entitled to retain any earnest moneydeposited by the Purchaser.

(a) Any change as to the terms of the Purchaser's financing, including but not limited to any change in thePurchaser's lender, after negotiations have been completed may, at Seller's discretion, require renegotiation ofall terms of the Agreement. Seller shall have the right to terminate the Agreement in the event there is achange in Purchaser's financing or choice of lender.

(b) The Purchaser shall ensure that the lender selected by the Purchaser to finance the sale shall fund thesettlement agent as of the Settlement Date. The Purchaser shall further ensure that the selected lender shallprovide all lender prepared closing documentation to the settlement agent no later than 48 hours prior to theSettlement Date. Any delays in closing as a result of the Purchaser's selected lender shall be theresponsibility of the Purchaser.

4. Use of Property: The Purchaser (check one):(___) does, (___) does not, intend to use and occupy the Property asPurchasers primary residence.

5. Inspections:

(a) On or before ten (10) calendar days from the Acknowledgement Date, the Purchaser shall inspect theProperty or obtain for its own use, benefit and reliance, inspections and/or reports on the condition of theProperty, or be deemed to have waived such inspection and any objections to the condition of the Propertyand to have accepted the Property. The Purchaser shall keep the Property free and clear of liens andindemnify and hold the Seller harmless from all liability claims, demands, damages, and costs related to thePurchaser's inspection and the Purchaser shall repair all damages arising from or caused by the inspections.The Purchaser shall not directly or indirectly cause any inspections to be made by any government buildingor zoning inspectors or government employees without the prior written consent of the Seller, unless requiredby law, in which case, the Purchaser shall provide reasonable notice to the Seller prior to any suchinspection. If the Seller has winterized this Property and the Purchaser desires to have the Property inspected,

the Seller's listing agent will have the Property dewinterized prior to inspection and rewinterized afterinspection.

Within five (5) calendar days of receipt of any inspection report prepared by or for the Purchaser, but notlater than ten (10) calendar days from the Acknowledgment Date, whichever first occurs, the Purchaser willprovide written notice to the Seller of any items disapproved. The Purchaser's silence shall be deemed asacceptance of the condition of the Property. The Purchaser shall provide to the Seller, at no cost, uponrequest by the Seller, complete copies of all inspection reports upon which the Purchaser's disapproval of thecondition of the property is based. In no event shall the Seller be obligated to make any repairs orreplacements that may be indicated in the Purchaser's inspection reports. The Seller may, in its sole


SELLER (Initials)

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discretion, make such repairs to the Property under the terms described in Section 6 of this Addendum.If the Seller elects not to repair the Property, the Purchaser may cancel this Agreement and receive all earnestmoney deposited. If the Seller elects to make any such repairs to the Property, the Seller shall notify thePurchaser after completion of the repairs and the Purchaser shall have five (5) calendar days from the date ofnotice, to inspect the repairs and notify the Seller of any items disapproved. If after inspection the Purchaseris not satisfied with repairs or treatments, Purchaser may terminate the Agreement at any time prior to closing.

In situations that are applicable, a structural, electrical, mechanical, environmental or termite inspection reportmay have been prepared for the benefit of the Seller. Upon request, the Purchaser will be allowed to reviewthe report to obtain the same information and knowledge the Seller has about the condition of the Property butthe Purchaser acknowledges that the inspection reports were prepared for the sole use and benefit of the Seller.The Purchaser will not rely upon any such inspection reports obtained by the Seller in making a decision topurchase the Property.

(b) If the Property is a condominium or planned unit development or co-operative, unless otherwise required bylaw, the Purchaser, at the Purchaser's own expense, is responsible for obtaining and reviewing the covenants,conditions and restrictions and bylaws of the condominium, or planned unit development or cooperative("Governing Documents") within ten (10) calendar days of the Effective Date. The Seller agrees to usereasonable efforts, as determined in the Seller's sole discretion, to assist the Purchaser in obtaining a copy ofthe Governing Documents. The Purchaser will be deemed to have accepted the Governing Documents if thePurchaser does not provide the Seller notice in writing, within fifteen (15) calendar days of the Effective Date,of the Purchaser's disapproval of the Governing Documents. In the event Purchaser disapproves of theGoverning Documents, Purchaser has the right to terminate the Agreement provided the Purchaser notifiesSeller in writing of Purchaser's disapproval within fifteen (15) calendar days of the Effective Date.

6. Repairs: All repairs and treatments will be completed by a vendor approved by the Seller, and will be subject tothe Seller's satisfaction only. If the Seller has agreed to pay for treatment of wood infesting organisms, the Sellershall treat only active infestation. Neither the Purchaser, nor its representatives, shall enter upon the Propertyto make any repairs and/or treatments prior to closing. The Purchaser shall inspect the repairs and/or

treatments as set forth in paragraph 5(a) or is deemed to have waived such inspection and any objections to

the repairs and/or treatments. The Purchaser acknowledges that all repairs and treatments are done for the benefitof the Seller and not for the benefit of the Purchaser and that the Purchaser has inspected or has been given theopportunity to inspect repairs and treatments. Any repairs or treatments made or caused to be made by the Sellershall be completed prior to closing. Under no circumstances shall the Seller be required to make any repairs ortreatments after the Settlement Date. The Purchaser acknowledges that closing on this transaction shall be

deemed the Purchaser's reaffirmation that the Purchaser is satisfied with the condition of the Property and

with all repairs and treatments to the Property and waives all claims related to such condition and to the

quality of the repairs or treatments to the Property. Any repairs or treatments shall be performed for functionalpurposes only and exact restoration of appearance or cosmetic items following any repairs or treatments shall not berequired. The Seller shall not be obligated to obtain or provide to the Purchaser any receipts for repairs, ortreatments, written statements indicating dates or types of repairs and/ or treatments or copies of such receipts orstatements nor any other documentation regarding any repairs or treatments to the Property. THE SELLER DOES

NOT WARRANT OR GUARANTEE ANY WORK, REPAIRS OR TREATMENTS TO THE PROPERTY.

THE PURCHASER AGREES TO EXECUTE AND DELIVER TO THE SELLER AT CLOSING FANNIE MAE'SNPDC FORM 4 WAIVER & RELEASE.

7. CONDITION OF PROPERTY: THE PURCHASER UNDERSTANDS THAT THE SELLER ACQUIREDTHE PROPERTY BY FORECLOSURE, DEED-IN-LIEU OF FORECLOSURE, FORFEITURE, TAX SALE,

OR SIMILAR PROCESS AND CONSEQUENTLY, THE SELLER HAS LITTLE OR NO DIRECT

KNOWLEDGE CONCERNING THE CONDITION OF THE PROPERTY. AS A MATERIAL PART OF

THE CONSIDERATION TO BE RECEIVED BY THE SELLER UNDER THIS AGREEMENT ASNEGOTIATED AND AGREED TO BY THE PURCHASER AND THE SELLER, THE PURCHASER

ACKNOWLEDGES AND AGREES TO ACCEPT THE PROPERTY IN "AS IS" CONDITION AT THE

TIME OF CLOSING, INCLUDING, WITHOUT LIMITATION, ANY DEFECTS OR ENVIRONMENTAL

CONDITIONS AFFECTING THE PROPERTY, WHETHER KNOWN OR UNKNOWN, WHETHER SUCH

DEFECTS OR CONDITIONS WERE DISCOVERABLE THROUGH INSPECTION OR NOT. THE

PURCHASER ACKNOWLEDGES THAT THE SELLER, ITS AGENTS AND REPRESENTATIVES HAVE

NOT MADE AND THE SELLER SPECIFICALLY NEGATES AND DISCLAIMS ANY

REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTEES,

IMPLIED OR EXPRESS, ORAL OR WRITTEN WITH RESPECT TO THE FOLLOWING:


SELLER (Initials)

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existence of any tenants or occupants at the Property unless otherwise noted in Section 38 of this Addendum. TheSeller, its representatives, agents or assigns, shall not be responsible for evicting or relocating any tenants, occupantsor personal property at the Property prior to or subsequent to closing unless otherwise noted in Section 38 of thisAddendum. All leases shall be deemed assigned to Purchaser upon closing to the extent permitted under applicablelaws.

The Purchaser further acknowledges that, to the best of the Purchaser's knowledge, the Seller is not holding anysecurity deposits from former or current tenants and has no information as to such security deposits as may havebeen paid by the former or current tenants to anyone and agrees that no sums representing such tenant securitydeposits shall be transferred to the Purchaser as part of this transaction. The Purchaser further agrees to assume allresponsibility and liability for the refund of such security deposits to the tenants pursuant to the provisions of

applicable laws and regulations. All rents due and payable and collected from tenants for the month in whichclosing occurs will be prorated according to the provisions of Section 10 of this Addendum.

The Purchaser acknowledges that this Property may be subject to the provisions of local rent control ordinances andregulations. The Purchaser agrees that upon the closing, all eviction proceedings and other duties and responsibilitiesof a property owner and landlord, including but not limited to those proceedings required for compliance with suchlocal rent control ordinances and regulations, will be the Purchaser's sole responsibility.

9. Personal Property: Items of personal property, including but not limited to window coverings, appliances,manufactured homes, mobile homes, vehicles, spas, antennas, satellite dishes and garage door openers, now orhereafter located on the Property are not included in this sale or the Purchase Price unless the personal property isspecifically described and referenced in Section 38 of this Addendum. Any personal property at or on the Propertymay be subject to claims by third parties and, therefore, may be removed from the Property prior to or after theclosing. The Seller makes no representation or warranty as to the condition of any personal property, title thereto, or

whether any personal property is encumbered by any liens. The Seller assumes no responsibility for any personalproperty remaining on the Property at the time of closing.

10. Closing Costs and Adjustments:

(a) The Purchaser and the Seller agree to prorate the following expenses as of the Settlement Date: real estatetaxes and assessments, common area charges, condominium or planned unit development or similarcommunity assessments, co-operative fees, maintenance fees and rents, if any. In determining prorations, theSettlement Date shall be allocated to the Purchaser. Payment of special assessment district bonds andassessments, and payment of homeowner's association or special assessments shall be paid current andprorated between the Purchaser and the Seller as of Settlement Date with payments not yet due and owing tobe assumed by the Purchaser without credit toward Purchase Price. The Property taxes shall be proratedbased on an estimate or actual taxes from the previous year on the Property. All prorations shall be basedupon a 30-day month and all such prorations shall be final. The Seller shall not be responsible for anyamounts due, paid or to be paid after closing, including but not limited to, any taxes, penalties or interestassessed or due as a result of retroactive, postponed or additional taxes resulting from any change in use of,or construction on, or improvement to the Property, or an adjustment in the appraised value of the Property.In the event the Seller has paid any taxes, special assessments or other fees and there is a refund of any suchtaxes, assessments or fees after closing, and the Purchaser as current owner of the Property receives thepayment, the Purchaser will immediately submit the refund to the Seller.

(b) Fannie Mae is a congressionally chartered corporation and is exempt from realty transfer taxes pursuant to 12U.S.C. 1723a(c)(2).

(c) The Seller shall pay the real estate commission per the listing agreement between the Seller and the Seller'slisting broker.

(d) Purchaser shall release Seller from any and all claims arising from the adjustments or prorations or errors incalculating the adjustment or prorations that are or may be discovered after closing. THE PURCHASERAGREES TO EXECUTE AND DELIVER TO THE SELLER AT CLOSING FANNIE MAE'S NPDC FORM5 (Tax Proration Agreement).

11. Delivery of Funds: Regardless of local custom, requirements, or practice, upon delivery of the deed by the Seller tothe Purchaser, the Purchaser shall deliver, or cause to be delivered, all funds due the Seller from the sale in the formof cash, bank check, certified check or wire transfer. An attorney's trust fund check shall not be sufficient to satisfythis provision unless the bank holding the account on which the trust fund check is drawn certifies the trust fundcheck.


SELLER (Initials)

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12. Certificate of Occupancy: If the Property is located in a jurisdiction that requires a certificate of occupancy, smokedetector certification, septic certification or any similar certification or permit ("Certificate of Occupancy") or anyform of improvement or repair to the Property to obtain such Certificate of Occupancy necessary for the Property tobe occupied, the Purchaser understands that the Seller requires the Certificate of Occupancy to be obtained by thePurchaser at the Purchaser's sole expense. The Purchaser shall make application for all Certificates of Occupancywithin ten (10) calendar days of the Acknowledgement Date. The Purchaser shall not have the right to delay theclosing due to the Purchaser's failure or inability to obtain any required Certificate of Occupancy. Failure of thePurchaser to obtain and furnish the Certificate of Occupancy shall be a material breach of the Agreement.

13. Delivery of Possession of Property: The Seller shall deliver possession of the Property to the Purchaser at closing.The delivery of possession shall be subject to the rights of any tenants or parties in possession per Section 8 of this

Addendum. If the Purchaser alters the Property or causes the Property to be altered in any way and/or occupies theProperty or allows any other person to occupy the Property prior to closing without the prior written consent of theSeller, such event shall constitute a breach by the Purchaser under the Agreement and the Seller may terminate theAgreement and the Purchaser shall be liable to the Seller for damages caused by any such alteration or occupationof the Property prior to closing and waives any and all claims for damages or compensations for alterations made bythe Purchaser to the Property including, but not limited to, any claims for unjust enrichment.

14. Deed: Regardless of local practice, the deed to be delivered by Seller at closing shall be a deed that covenants thatgrantor grants only that title which grantor may have and that grantor will only defend title against persons claimingby, through, or under the grantor, but not otherwise. Any reference to the term "Deed" or "Special Warranty Deed"herein shall be construed to refer to such form of deed. Under no circumstances shall Seller be required to deliverany form of deed which grants a general warranty of title.

__________________(check if applicable) Sellers deed shall include the following deed restriction:

GRANTEE HEREIN SHALL BE PROHIBITED FROM CONVEYING CAPTIONED PROPERTY FOR A SALES

PRICE OF GREATER THAN $___________________ FOR A PERIOD OF ____ MONTH(S) FROM THE DATE

OF THIS DEED. GRANTEE SHALL ALSO BE PROHIBITED FROM ENCUMBERING SUBJECT PROPERTY

WITH A SECURITY INTEREST IN THE PRINCIPAL AMOUNT OF GREATER THAN $________________

FOR A PERIOD OF ____ MONTH(S) FROM THE DATE OF THIS DEED. THESE RESTRICTIONS SHALL

RUN WITH THE LAND AND ARE NOT PERSONAL TO GRANTEE.

THIS RESTRICTION SHALL TERMINATE IMMEDIATELY UPON CONVEYANCE AT ANY FORECLOSURESALE RELATED TO A MORTGAGE OR DEED OF TRUST.

15. Defects in Title: If the Purchaser raises an objection to the Seller's title to the Property, which, if valid, would maketitle to the Property uninsurable, the Seller shall have the right unilaterally to terminate the Agreement by givingwritten notice of the termination to the Purchaser. However, if the Seller is able to correct the problem throughreasonable efforts, as the Seller determines, at its sole and absolute discretion, prior to the Expiration Date, includingany written extensions, or if title insurance is available from a reputable title insurance company at regular ratescontaining affirmative coverage for the title objections, then the Agreement shall remain in full force and thePurchaser shall perform pursuant to the terms set in the Agreement. The Seller is not obligated to remove anyexception or to bring any action or proceeding or bear any expense in order to convey title to the Property or tomake the title marketable and/or insurable but any attempt by the Seller to remove such title exceptions shall notimpose an obligation upon the Seller to remove those exceptions. The Purchaser acknowledges that the Seller's titleto the Property may be subject to court approval of foreclosure or to mortgagor's right of redemption. In the eventthe Seller is not able to (a) make the title insurable or correct any problem or (b) obtain title insurance from areputable title insurance company, all as provided herein, the Purchaser may terminate this Agreement and anyearnest money deposit will be returned to the Purchaser as the Purchaser's sole remedy at law or equity. If the

Purchaser elects to take title subject to the title objections, the Purchaser shall so notify the Seller. The Purchaser'ssilence as to any title objections shall be deemed as acceptance.


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16. Representations and Warranties:

The Purchaser represents and warrants to the Seller the following:

(a) The Purchaser is purchasing the Property solely in reliance on its own investigation and inspection of theProperty and not on any information, representation or warranty provided or to be provided by the Seller, itsservicers, representatives, brokers, employees, agents or assigns;

(b) Neither the Seller, nor its servicers, employees, representatives, brokers, agents or assigns, has made any

representations or warranties, implied or expressed, relating to the condition of the Property or the contentsthereof, except as expressly set forth in Section 38 of this Addendum;

(c) The Purchaser has not relied on any representation or warranty from the Seller regarding the nature, qualityor workmanship of any repairs made by the Seller;

(d) The Purchaser will not occupy or cause or permit others to occupy the Property prior to closing and, unlessand until any necessary Certificate of Occupancy has been obtained from the appropriate governmental entity,will not occupy or cause or permit others to occupy the Property after closing;

(e) The undersigned, if executing the Agreement on behalf of the Purchaser that is a corporation, partnership,trust or other entity, represents and warrants that he/she is authorized by that entity to enter into theAgreement and bind the entity to perform all duties and obligations stated in the Agreement; and

(f) The Purchaser (check one) ____ has ____ has not previously purchased a Fannie Mae owned property.

17. WAIVERS:

AS A MATERIAL PART OF THE CONSIDERATION TO BE RECEIVED BY THE SELLER UNDER

THIS AGREEMENT AS NEGOTIATED AND AGREED TO BY THE PURCHASER AND THE SELLER,

THE PURCHASER WAIVES THE FOLLOWING:

(A) ALL RIGHTS TO FILE AND MAINTAIN AN ACTION AGAINST THE SELLER FOR SPECIFIC

PERFORMANCE;

(B) RIGHT TO RECORD A LIS PENDENS AGAINST THE PROPERTY OR TO RECORD THISAGREEMENT OR A MEMORANDUM THEREOF IN THE REAL PROPERTY RECORDS;

(C) RIGHT TO INVOKE ANY OTHER EQUITABLE REMEDY THAT MAY BE AVAILABLE THAT IF

INVOKED, WOULD PREVENT THE SELLER FROM CONVEYING THE PROPERTY TO A THIRD

PARTY PURCHASER;

(D) ANY AND ALL CLAIMS ARISING FROM THE ADJUSTMENTS OR PRORATIONS OR ERRORS

IN CALCULATING THE ADJUSTMENTS OR PRORATIONS THAT ARE OR MAY BE

DISCOVERED AFTER CLOSING;

(E) ANY CLAIMS FOR FAILURE OF CONSIDERATION AND/OR MISTAKE OF FACT AS SUCH

CLAIMS RELATE TO THE PURCHASE OF THE PROPERTY OR ENTERING INTO OR

EXECUTION OF OR CLOSING UNDER THIS AGREEMENT;

(F) ANY REMEDY OF ANY KIND, INCLUDING BUT NOT LIMITED TO RESCISSION OF THIS

AGREEMENT, OTHER THAN AS EXPRESSLY PROVIDED IN SECTION 19 OF THIS

ADDENDUM, TO WHICH THE PURCHASER MIGHT OTHERWISE BE ENTITLED AT LAW OR

EQUITY WHETHER BASED ON MUTUAL MISTAKE OF FACT OR LAW OR OTHERWISE;

(G) TRIAL BY JURY, EXCEPT AS PROHIBITED BY LAW, IN ANY LITIGATION ARISING FROM OR

CONNECTED WITH OR RELATED TO THIS AGREEMENT;


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(H) ANY CLAIMS OR LOSSES THE PURCHASER MAY INCUR AS A RESULT OF CONSTRUCTION

ON, REPAIR TO, OR TREATMENT OF THE PROPERTY, OR OTHER DEFECTS, WHICH MAY

NOW OR HEREAFTER EXIST WITH RESPECT TO THE PROPERTY;

(I) ANY CLAIMS OR LOSSES RELATED TO ENVIRONMENTAL CONDITIONS AFFECTING THE

PROPERTY INCLUDING, BUT NOT LIMITED TO, MOLD, DRYWALL, LEAD PAINT, FUEL

OIL, ALLERGENS, OR TOXIC SUBSTANCES OF ANY KIND;

(J) ANY RIGHT TO AVOID THIS SALE OR REDUCE THE PRICE OR HOLD THE SELLER

RESPONSIBLE FOR DAMAGES ON ACCOUNT OF THE CONDITION OF THE PROPERTY,

LACK OF SUITABILITY AND FITNESS, OR REDHIBITORY VICES AND DEFECTS, APPARENT,

NONAPPARENT OR LATENT, DISCOVERABLE OR NONDISCOVERABLE; AND

(K) ANY CLAIM ARISING FROM ENCROACHMENTS, EASEMENTS, SHORTAGES IN AREA OR

ANY OTHER MATTER WHICH WOULD BE DISCLOSED OR REVEALED BY A SURVEY OR

INSPECTION OF THE PROPERTY OR SEARCH OF PUBLIC RECORDS.

References to the "Seller" in this Section 17 of this Addendum shall include the Seller and the Seller's servicers,representatives, agents, brokers, employees, and/or assigns.

In the event that the Purchaser breaches any of the terms described or contemplated under this Section 17 of thisAddendum, the Purchaser shall pay all reasonable attorney fees and costs incurred by the Seller in defending suchaction, and the Purchaser shall pay Five Thousand Dollars ($5,000) as liquidated damages for breach of this Section

17 of the Addendum, which amount shall be in addition to any liquidated damages held or covered by the Sellerpursuant to Section 19 of this Addendum.

18. Conditions to the Seller's Performance: The Seller shall have the right, at the Seller's sole discretion, to extend theExpiration Date or to terminate this Agreement if:

(a) full payment of any mortgage insurance claim related to the loan previously secured by the Property is notconfirmed prior to the closing or the mortgage insurance company exercises its right to acquire title to theProperty;

(b) the Seller determines that it is unable to convey title to the Property insurable by a reputable title insurancecompany at regular rates;

(c) the Seller at any time has requested that the servicing lender, or any other party, repurchase the loan previouslysecured by the Property and/or such lender or other party has elected to repurchase the property;

(d) a third party with rights related to the sale of the property does not approve the sale terms;

(e) full payment of any property, fire or hazard insurance claim is not confirmed prior to the closing ;

(f) any third party, whether tenant, homeowner's association, or otherwise, exercises rights under a right of firstrefusal to purchase the Property;

(g) the Purchaser is the former mortgagor of the Property, or is related to or affiliated in any way with the formermortgagor, and the Purchaser has not disclosed this fact to the Seller prior to the Seller's acceptance of thisAgreement. Such failure to disclose shall constitute default under this Agreement, entitling the Seller toexercise any of its rights and remedies, including, without limitation, retaining the earnest money deposit;

(h) the Seller, at the Seller's sole discretion, determines that the sale of the Property to the Purchaser or any relatedtransactions are in any way associated with illegal activity of any kind;

(i) the Agreement was accepted and executed by Seller in noncompliance with Fannie Mae procedures orguidelines;

(j) Seller determines in its sole discretion that the sale of the Property will subject Seller to liability and/or havean impact on pending, threatened or potential litigation; or


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sole discretion, limit the amount to be expended. Whether or not Seller elects to repair or restore the Property, thePurchaser's sole and exclusive remedy shall be either to acquire the Property in its then condition at the PurchasePrice with no reduction thereof by reason of such loss or terminate this Agreement and receive a refund of anyearnest money deposit.

22. Eminent Domain: In the event that the Seller's interest in the Property, or any part thereof, shall have been taken byeminent domain or shall be in the process of being taken on or before the closing, either party may terminate theAgreement and the earnest money deposit shall be returned to the Purchaser and neither party shall have any furtherrights or liabilities hereunder except as provided in Section 24 of this Addendum.

23. Keys: The Purchaser understands that the Seller may not be in possession of keys, including but not limited to,mailbox keys, recreation area keys, gate cards, or automatic garage remote controls, and any cost of obtaining thesame will be the responsibility of the Purchaser. The Purchaser also understands that if the Property includes analarm system, the Seller cannot provide the access code and/or key and that the Purchaser is responsible for anycosts associated with the alarm and/or changing the access code or obtaining keys. If the Property is presently on aMaster Key System, the Seller will re-key the exterior doors to the Property prior to closing at the Purchaser'sexpense. The Purchaser authorizes and instructs escrow holder to charge the account of the Purchaser at closing forthe rekey.

24. Survival: Delivery of the deed to the Property to the Purchaser by the Seller shall be deemed to be full performanceand discharge of all of the Seller's obligations under this Agreement. Notwithstanding anything to the contrary in theAgreement, any provision which contemplates performance or observance subsequent to any termination orexpiration of the Agreement, shall survive the closing and/or termination of the Agreement by any party andcontinue in full force and effect.

25. Further Assurances: The Purchaser agrees to execute and deliver to the Seller at closing, or otherwise as requestedby the Seller, documents including Fannie Mae's NPDC Form 4 (Waiver and Release), NPDC Form 5 (TaxProration Agreement) or documents that are substantially the same, and to take such other action as reasonably maybe necessary to further the purpose of this Agreement. Copies of referenced documents are available from theSeller's listing agent upon request by the Purchaser.

26. Severability: The lack of enforceability of any provision of this Agreement shall not affect the enforceability of anyother provision of this Agreement, all of which shall remain in full force and effect.

27. Assignment of Agreement: The Purchaser shall not assign this Agreement without the express written consent of theSeller. The Seller may assign this Agreement at its sole discretion without prior notice to, or consent of, thePurchaser.

28. EFFECT OF ADDENDUM: THIS ADDENDUM AMENDS AND SUPPLEMENTS THE CONTRACT AND,IF APPLICABLE, ESCROW INSTRUCTIONS. IN THE EVENT THERE IS ANY CONFLICT

BETWEEN THIS ADDENDUM AND THE CONTRACT OR ESCROW INSTRUCTIONS OR NOTICE OR

OTHER DOCUMENTS ATTACHED AND MADE A PART OF THE AGREEMENT, THE TERMS OF

THIS ADDENDUM TAKE PRECEDENCE AND SHALL PREVAIL EXCEPT AS OTHERWISE

PROVIDED BY LAW.

29. Entire Agreement: The Agreement constitutes the entire agreement between the Purchaser and the Seller concerningthe subject matter hereof and supersedes all previous communications, understandings, representations, warranties,covenants or agreements, either written or oral and there are no oral or other written agreements between thePurchaser and the Seller. All negotiations are merged into the Agreement. The Seller is not obligated by any otherwritten or oral statements made by the Seller, the Seller's representatives, or any real estate licensee.

30. Modification: No provision, term or clause of the Agreement shall be revised, modified, amended or waived exceptby an instrument in writing signed by the Purchaser and the Seller.

31. Rights of Others: This Agreement does not create any rights, claims or benefits inuring to any person or entity,other than Seller's successors and/or assigns, that is not a party to the Agreement, nor does it create or establish anythird party beneficiary to this Agreement.

32. Counterparts: This Agreement may be executed in any number of counterparts and each such counterpart shall bedeemed to be an original, but all of which, when taken together, shall constitute one agreement.

33. Headings: The titles to the sections and headings of various paragraphs of this Agreement are placed forconvenience of reference only and in case of conflict, the text of this Agreement, rather than such titles or headingsshall control.


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IN WITNESS WHEREOF, the Purchaser and the Seller have entered into this Addendum as of the date first

set forth above.

PURCHASER(S):

Signature:

Date:

Print Name:

Address:

Telephone:

Fax:

Signature:

Date:

Print Name:

Address:

Telephone:

Fax:

SELLER:

FANNIE MAE

, as Atto

in Fact for Fannie Mae

FANNIE MAE as Attorney in Fact

for

By:

Date:


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PURCHASER'S AGENT:

Brokerage Firm:

Purchaser's Agent Name:

Address:

Telephone :

Fax:

Email Address:

SELLER'S AGENT:

Brokerage Firm:

Seller's Agent Name:

Address:

Telephone :

Fax:

Email Address:

PURCHASER'S ATTORNEY:

Name:

Address:

Telephone:

Fax:

Email Address:

SELLER'S ATTORNEY:

Name:

Address:

Telephone:

Fax:

Email Address:


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SPA REALTY, INC

ALBERT YABOR

8125 SW 120 STREET

PINECREST, FL 33156

786-573-5151

305-256-5958

[email protected]

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"A S IS" Residential Contract Fo r Sale And PurchaseTHIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AN D THE FLORIDA BAR IoridaReal torPARTIES: FANNIE MAE ("Seller")and ("Buyer")agree that Seller shall sell and Buyer shall buy the following described Real Property and PersonaProperty (collectively "Property") pursuant to the terms and conditions of this AS IS Residential Contract For SalAnd P urchase and any riders and addenda ("Contract"):1. PROPERTY DESCRIPTION:

(a) Street address , city, zip:(b) Property is located in: County, Florida. Real Property Tax ID No:(c) Legal description of the Real Prope rty:together with all existing improvements and fixtures, including built-in appliances, built-in furnishings andattached wall-to-wall carpeting and flooring ("Real Property") unless specifically excluded below.(d) Personal Property: he following items-ow ned b y - ~ e i l e r nd existing on the Property as of the dateof the initial offer are included in the p urchase ("Personal Property"): (i) range(s)/oven(s), dishwasher(s)disposal, ceiling fan(s), intercom, light fixtures, rods, draperies and other window treatments, garage dooopeners, and security gate and other access devices; and (ii) those additional items checked below. Iadditional details are necessary, specify below. If left blank, the item below is not included:

Refrigerator(s1 Smoke detector@) Pool barrierlfence I7Storage shedMicrowave oven Security system Pool equipment TV antennalsatellite dishWasher Windowlwall alc Pool heater Water softenerlpurifierDryer Generator Spa or hot tub with heater Storm shutters andStand-alone ice maker Above ground pool panelsThe only other items of Personal Property included in this purchase, and any additional details regardingPersonal Property, if necessary, are: This clause is eliminated in it's entirety. Please refer to Clause #9 onthe attached RE Purchase AddendumPersonal Property is included in the Pu rchase Price, has no contributory value, and shall be left for the Buyer.(e) The following items are excluded from the purchase:

PURCHASE PRICE (U.S. currency):.................................................................... $(a) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $

The initial deposit mad e payable and delivered to "Escrow Agent" named below(CHECK 0NE):Oaccompa nies offer or is to be made upon acceptance (Effective Date)or is to be mad e within (if blank, then 3) days after E ffective DateEscrow Agent Information: Name:Address: Phone:E-mail: Fax:(b) Additional deposit to be delivered to Escrow Agent within (if blank, then 3)days after Effective Date ........................................................................................(All deposits paid or agreed to be paid, are collectively referred to as the "Deposit") .........c) Financing: Express as a dollar amoun t or percentage ("Loan Amou nt") see Paragraph 8(d) Other: ......$(e) Balance to close (no t including Buyer's closing costs, prepaids and prorations) by wiretransfer or other COLLECTED funds ......................................................................... $NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARD S.TIME FOR ACCEPTANCE OF OFFER AND COUNTER-OFFERS; EFFECTIVE DATE:(a) If not signed by Buyer and Seller, and an executed copy d elivered to all parties on or before

, this offer shall be deemed withdrawn and the D eposit, if any, will be returned to BuyerUnless otherwise stated, time for acceptance of any counter-offers shall be within 2 days after the day thecounter-offer is delivered.(b) The effective date of this C ontract will be the date when the last one of the Buyer and S eller has signed orinitialed this offer or final counter-offer ("Effective Date").CLOSING DATE: Unless m odified by other provisions of this Contract, the closing of this transaction shall occurand the closing documents required to be furnished by each party pursuant to this Contract shall be delivered("Closing") on ("Closing Date"), at the time established by the Closing Agent.Buyer's Initials Page 1of 10 Seller's InitialsFloridaRealtorslFloridaBar-ASIS-I Rev. 6/10O 2010 Florida Realtors@ nd The Florida Bar. All rights reserved.

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CLOSING COSTS, FEES AND CHARGESCLOSING COSTS; TITLE INSURANCE; SURVEY; HOME WARRANTY; SPECIAL ASSESSMENTS:(a) COSTS TO BE PAID B Y SELLER:Docum entary stamp taxes a nd surtax on deed, if any HOA /Condominium Association estoppel feesOwner's Policy and Charges (if Paragraph 9(c)(i) is checked) Recording and other fees needed to cure titleTitle search charges (if Paragraph 9(c)(iii) is checked) Seller's a ttorneys' feesOther:If, prior to Closing, Seller is unable to me et the AS I S M aintenance Requirement as required by Paragraph 11a sum equal to 125% of estimated cost to meet the AS IS Maintenance Requirement shall be escrowed aClosing. If actual costs to meet the AS IS Maintenance Requirement exceed escrowed amount, Seller shalpay such actual costs. Any unused portion of escrowed amount shall be returned to Seller.(b) COSTS TO B E PAID B Y BUYER:Taxes and recording fees on notes and mortgages Loan expensesRecording fees for dee d and financing statemen ts Appraisal feesOwner's Policy and Charges (if Paragraph 9(c)(ii) is checked) Buyer's InspectionsSurvey (and elevation certification, if required) Buyer's attorneys' feesLender's title policy and endorsemen ts All property related insuranceHOA lCondominium Association ap plicationltransfer feesOther:(c) TITLE EVIDE NCE AND INSURAN CE: At least (if blank, then 5) days prior to Closing Date, a titleinsurance commitment issued by a Florida licensed title insurer, with legible copies of instruments listed asexceptions attached thereto ("Title Comm itment") and, after Closing, an ow ner's policy of title insurance (seeSTANDARD A for terms) shall be obtained and delivered to Buyer. If Seller has an owner's policy of titleinsurance covering the R eal Property, a copy shall be furnished to Buyer and Closing Agent within 5 days afteEffective Date. The owner's title policy premium and charges for owner's policy endorsements, title searchand closing services (collectively, "Owner's Policy and Charges") shall be paid, as set forth below(CHECK ONE):(i) Seller will designate Closing Agent and pay for O wner's P olicy and Charges (but not including chargesfor closing services related to Buyer's lender's policy and endorsements and loan closing, which amountsshall be paid by Buy er to Closing Agent or such other provider(s) as Buyer ma y select); or(ii) Buyer will designate Closing Agent and pay for Owner's Policy and Charges and charges for closingservices related to Buyer's lender's po licy, endorsemen ts, and loan closing; or(iii) [MIAMI-DADEIBROWARD REGIONAL PROVISION]: Seller will furnish a copy of a prior owner's policyof title insurance or other evidence of title and pay fees for: (A) a co ntinuation or update of such title evidencewhich is acceptable to Buyer's title insurance underwriter for reissue of coverage; (B) tax search; and(C) municipal lien search. Buyer shall obtain and pay for post-Closing continuation and premium for Buyer'sowner's policy, and if applicable, Buyer's lender's policy. Seller shall not be obligated to pay more than$ (if blank, $200.00) for abstract continuation or title sea rch ordered or performed by ClosingAgent.(d) SURVEY : At least 5 days prior to C losing, Buyer may, at Buyer's expense, have the Real Property surveyedand certified by a registered Florida surveyor ("Survey"). If Seller has a survey covering the R eal Property, acopy shall be furnished to B uyer and Closing Agent within 5 days after Effective Date.(e) HOM E WAR RAN TY: At Closing, Buyer Seller NIA will pay for a home warranty plan issued byat a cost not to exceed $ . A homewarranty plan provides for repair or replacement of many of a home's mechanical systems and major built-inappliances in the event of breakdown due to normal wear and tear during the agreement's warranty period.(9 SPECIAL ASSESSMENTS: At Closing, Seller will pay: (i) the full amount of liens imposed by a public body("public body" does not include a Condom inium or Hom eowner's Association) that are certified, confirmed andratified before Closing; and (ii) the amount of the public body's most recent estimate or assessment for animprovement which is substantially complete as of Effective Date, but that has not resulted in a lien beingimposed on the P roperty before Closing. Buyer will pay all other assessments. If spe cial ass ess me nts ma ybe paid in insta l lmen ts (CHECK ONE):(a) Sel ler shal l pay insta l lments due pr ior to Closing a nd Buye r shal l pay insta llments due af terClosing. Insta l lments prepaid or due for th e year of Closing sha l l be prorated.(b) Se ller sha l l pay the assessment(s ) i n fu l l p r io r to o r a t the t ime o f C los ing .IF NEITHER BOX IS CHECKED, THEN OPTION (a) SHALL BE DEEMED SELECTED.This Pa ragraph 9(f) shall not apply to a special benefit tax lien imposed by a com munity development district(CDD) pursuant to Chapter 190 F.S. which lien shall be treated as an ad valorem tax and prorated pursuant toSTANDARD K.

Buyer's Initials Page 3 of 10 Seller's InitialsFloridaReaItorslFloridaBar-ASIS-I Rev. 6/10O 2010 Florida Realtors@and The Florida Bar. All rights reserved.

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15 1 DISCLOSURES152 10. DISCLOSURES:153 (a) RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in154 sufficient quantities, m ay present health risks to persons who are exposed to it over time. Levels of radon tha155 exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding156 radon and radon testing may be obtained from your county health department.157 (b ) PERMITS DISCLOSURE: Except as may have been disclosed by Seller to Buyer in a written disclosure15 8 Seller does not know of any improvements made to the Property which were made without required159 permits or made pursuant to permits which have not been properly closed.16 0 (c ) MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned o161 desires additional information regarding mold, Buyer should contact an appropriate professional.162 (d) FLOOD ZONE; ELEVATION CERTIFICATION: Buyer is advised to verify by elevation certificate which flood163 zone the Property is in, whether flood insurance is required by Buyer's lender, and what restrictions apply to164 improving the Property and rebuilding in the event of casualty. If Property is in a "Special Flood Hazard Area"18 5 or "Coastal High Hazard Area" and finished floor elevation is below minimum flood elevation, Buyer may166 terminate this C ontract by delivering written notice to Seller within 20 days after Effective Date, failing which16 7 Buyer accepts existing elevation of buildings and flood zone designation of P roperty.168 (e) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure16 9 required by Section 553.996, F.S.170 (f) LEAD-BASED PAINT: If Property includes pre-1978 residential housing, a lead-based paint rider is17 1 mandatory.17 2 (g) HOMEOWNERS' ASSOClATlONlCOMMUNlTY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS173 CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS174 ASSOClATlONlCOMMUNlTY DISCLOSURE, IF APPLICABLE.17 5 (h) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHOULD NOT RELY ON THE SELLER'S CURRENT176 PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED177 TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY17 8 IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RE SULT IN HIGHER179 PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE180 COUNTY PROPERTY APPRAISER'S OFFICE FOR INFORMATION.18 1 (i) TAX WITHHOLDING: If Seller is a "foreign person" as defined by the Foreign Investment in Re al Property Tax182 Act ("F IRP TA), Buyer and Seller will comply with FIRP TA, which may require Seller to provide additional cash183 at Closing.184 (j) SELLER DISCLOSURE: Seller knows of no facts m aterially affecting the value of the Real Property which are18 5 not readily observable and w hich have not been disclosed to Buyer. Except as stated in the preceding sentence18 6 or otherwise disclosed in writing: (1) Seller has received no written or verbal notice from any governmental187 entity or agency as to a currently uncorrected building, environmental or safety code violation; and (2) Seller188 extends and intends no warranty and makes no representation of any type, either express or implied, as to the18 9 physical condition or history of the Property.

PROPERTY MAINTENANCE, CONDITION, INSPECTIONS AND EXAMINATIONS11. PROPERTY MAINTENANCE: Except for ordinary wear and tear and Casualty Loss, Seller shall maintain theProperty, including, but not limited to, lawn, shrubbery, and pool, in the condition existing as of Effective Date("AS IS M aintenance Requirement").12 . PROPERTY INSPECTION; RIGHT TO CANCEL:(a) PROPERTY INSPECTIONS AND RIGHT TO CANCEL: Buyer shal l have (if blank, 15) days fromEffective Date ("lnspection Pe ri od ) within which to have such inspections o f the Property performed

as Buyer shall desire during the lnspection Period. If Buyer determines, i n Buyer's sole discretion, thatthe Property is not acceptable to Buyer, Buyer may terminate this Contract by delivering written noticeof such election to Seller prior to expiration of lnspection Period. If Buyer timely terminates thisContract, the Deposit paid shall be immediately returned to Buyer, thereupon, Buyer and Seller shallbe released of all further obligations under this Contract; however, Buyer shall be responsible forprompt payment for such inspections, for repair of damage to, and restoration of, the Propertyresulting from such inspections, and shall provide Seller with paid receipts for all work done on theProperty (the preceding provision shall survive terminetion of this Contract). Unless Buyer exercisesthe right to terminate granted herein, Buyer accepts the physical condition of the Property and anyviolation of governmental, building, environmental, and safety codes, restrictions, or requirements, bu tsubject to Seller's continuing AS IS Maintenance Requirement, and Buyer shall be responsible for anyand all repairs and improvements required by Buyer's lender.Buyer's Initials Page 4 of 10 Seller's InitialsFloridaReaItorslFloridaBar-ASIS-I Rev. 6/10O 2010 Florida Realtors@ and The Florida Bar. All rights reserved.

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209 (b) WAL K-THRO UGH INSPE CTION IRE-INSPE CTION: On the day prior to Closing Date, or on Closing Date prio21o to time of Closing, as specified by Buyer, Buyer or Buyer's representative may perform a walk-through (and21 1 follow-up walk-through, if necessary) inspection of the Property solely to confirm that all items of Persona21 2 Property are on the Property and to verify that Seller has maintained the Property as required by the AS IS213 Maintenance Requireme nt and has m et all other contractual obligations.214 (c)SELLER ASSISTANCE AND COOPERATION IN CLOSE-OUT OF BUILDING PERMITS: If Buyer's21 5 inspection of the Property identifies open or needed building permits, then Seller shall promptly deliver to216 Buyer all plans, written documentation or other information in Seller's possession, knowledge, or contro217 relating to improvements to the Property which are the subject of such open or needed Permits, and shal21 8 promptly cooperate in goo d faith with Buyer's efforts to obtain estimates of repairs or other work necessary to219 resolve such Permit issues. Seller's obligation to cooperate shall include Seller's execution of necessary220 authorizations, consents, or other documen ts necessary for Buyer to cond uct inspections and have estimates221 of such repairs or work prepared, but in fulfilling such obligation, Seller shall not be required to expend, o222 become obligated to expend, any money.223 (d) ASSIGNMEN T OF REPAIR A ND TREATM ENT CO NTRACTS AND WARRA NTIES: At Buyer's option and224 cost, Seller will, at C losing, assign all assignable repair, treatment and maintenance co ntracts and warranties22s to Buyer.226 ESCROW AGENT AND B ROKER227 13. ESC ROW AGENT: Any C losing Agent or Escrow Agent (collectively "Agent") receiving the Deposit, other funds228 and other items is authorized, and agrees by a cceptance of them, to deposit them promptly, hold same in escrow229 within the State of Florida and, subject to CO LLECTIO N, disburse them in accordance with terms and conditions230 of this Con tract. Failure of funds to becom e CO LLECTE D shall not excuse Buyer's performance. When conflicting231 demands for the Deposit are received, or Agent has a good faith doubt as to entitlement to the Deposit, Agent232 may take such actions permitted by this Paragraph 13, as Agent deem s advisable. If in doubt as to Agent's duties233 or liabilities under this Contract, A gent m ay, at Agent's op tion, continue to hold the subject m atter of the escrow234 until the parties agree to its disbursement or until a final judgment of a court of competent jurisdiction shal235 determine the rights of the parties, or Agent may depos it same with the clerk of the circuit court having jurisdiction236 of the dispute. An attorney who represents a party and also acts as Agent may represent such party in such237 action. Upon notifying all parties concerned of such action, all liability on the part of Ag ent sha ll fully term inate238 except to the extent of accounting for any items previously delivered out of escrow. If a licensed real estate239 broker, Agent will comply with provisions of Chapter 475, F.S., as amended and FREC rules to timely resolve240 escrow disputes through mediation, arbitration, interpleader or an escrow disbursement order.241 Any proceeding between B uyer and Seller wherein Agent is made a party because of acting as Agent hereunde r242 or in any proceeding where Agent interpleads the subject matter of the escrow, Agent shall recover reasonable243 attorney's fees and costs incurred, to be paid pursuant to court order out of the escrowed funds or equivalent244 Agent shall not be liable to any party or person for m is-delivery of any escrowed items, unless such m is-delivery is245 due to Agent's willful breach of this C ontract or Agent's gross negligence. This Paragraph 13 shall survive Closing246 or termination of this Contract.247 14 . PROFESSIONAL ADVICE; BROKER LIABILITY: Broker advises Buyer and Seller to verify Property condition248 square footage, and all other facts and representations made pursuant to this Contract and to consult appropriate249 professionals for legal, tax, environmental, and other spec ialized advice co ncerning m atters affecting the Property250 and the transaction contemplated by this Contract. Broker represents to Buyer that Broker does not reside on the251 Property and that all representations (oral, written or otherwise) by Broker are based on Seller representations or252 public records. BUYER AGREES TO RELY SOLELY ON SELLER, PROFESSIONAL INSPECTORS AND253 GOVERNMENTAL AGENCIES FOR VERIFICATION OF PROPERTY CONDITION, SQUARE FOOTAGE AND254 FACTS THAT M ATERIA LLY AFFECT PROPERTY VALUE AND NOT ON THE REPRESENTATIONS (ORAL,255 WRITTEN OR OTHERWISE) OF BROKER. Buyer and Seller (individually, the "lndemnifying Party") each256 individually indemnifies, holds harmless, and releases Broker and Broker's officers, directors, agents and257 employees from all liability for loss or dam age, including all costs and expen ses, and reasonable attorney's fees258 at all levels, suffered or incurred by B roker and Broker's officers, directors, agents a nd em ployees in connection259 with or arising from claims, demands or causes of action instituted by Buye r or Seller based on: (i) inaccuracy of260 information provided by the lndemnifying P arty or from public records; (ii) lndemnifying P arty's misstatement(s) or261 failure to pe rform contractual obligations; (iii) B roker's performance, at lndemnifying Party's request, of any task262 beyond the scope of services regulated by Chapter 475, F.S., as amended, including Broker's referral,263 recomm endation or retention of any vendor for, or on behalf of, lndemnifying P arty; (iv) products or services264 provided by any such vendor for, or on behalf of, lndemnifying Party; and (v) expenses incurred by any such265 vendor. Buyer and Seller each assum es full responsibility for selecting and compensa ting their respective vendors28s and pa ying their other costs under this Contract whether or n ot this transaction closes. This P aragraph 14 will not267 relieve Broker of s tatutory obligations und er Ch apter 475, F.S., as amended. For purposes of this P aragraph 14,Buyer's Initials Page 5 of 10 Seller's InitialsFloridaReaItorslFloridaBar-ASIS-I Rev. 6/10O 010 Florida Realtors@ and The Florida Bar. All rights reserved.

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387 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)388 insurance, or, if no title insurance, designated by Seller. Closing may be conducted by m ail or electronic means.389 (ii) CLOSING DOCUMENTS: At Closing, Seller shall furnish and pay for, as applicable, deed, bill of sale390 certificate of title, construction lien affidavit, owner's possession affidavit, assignments of leases, and corrective391 instruments. Seller shall provide Buye r with paid receipts for all work do ne on the Property pursuant to this Contract392 Buyer shall furnish and pay for, as applicable, mortgage, mortgage note, security agreement, financing statements,393 survey, base elevation certification, and other docum ents required by Buyer's lender.394 (iii) PROCEDURE: The deed shall be recorded upon COLLECTION of all closing funds. If the Title395 Commitment provides insurance against adverse matters pursuant to Section 627.7841, F.S., as amended, the396 escrow closing procedure required by STANDARD J shall be waived, and Closing Agent shall, subject to397 COLLECTION of all closing funds, disburse at Closing the brokerage fees to Broker and the net sale proceeds to398 Seller.399 J. ESCROW CLOSING PROCEDURE: If Title Commitment issued pursuant to Paragraph 9(c) does not provide400 for insurance against adverse matters as permitted under Section 627.7841, F.S., as amended, the following escrow401 and closing procedures shall apply: (1) all Closing proceeds shall be held in escrow b y the C losing Agent for a period402 of not m ore than 1 0 days after Closing; (2 ) if Seller's title is rendered unm arketable, through no fault of Bu yer, Buye403 shall, within the 10 day period, n otify Seller in writing of the defect and S eller shall have 30 days from date of receip404 of such notification to cure the defect; (3 ) if Seller fails to timely cure the defect, the Deposit and all Closing funds405 paid by Buyer shall, within 5 days after written demand by Buyer, be refunded to Buyer and, simultaneously with406 such repayment, Buyer shall return the Personal Property, vacate the Real Property and re-convey the Property to407 Seller by special warranty deed and bill of sale; and (4) if Buyer fails to make timely demand for refund of the408 Deposit, Buyer shall take title as is, waiving all rights against Seller as to any intervening defect except as may be409 available to B uyer by virtue of wa rranties contained in the deed or bill of sale.410 K. PRORATIONS; CREDITS: The following recurring items will be made current (if applicable) and prorated as o411 the day prior to Closing Date, or date of occupancy if occupancy occurs before Closing Date: real estate taxes412 (including special benefit tax assessments imposed by a CDD), interest, bonds, association fees, insurance, rents413 and other expenses of Property. Buyer shall have o ption of taking over existing policies of insurance, if assumable, in414 which event premiums shall be prorated. Cash at Closing shall be increased or decreased as may be required by415 prorations to be made through day prior to Closing. Advance rent and security deposits, if any, will be credited to416 Buyer. Escrow deposits held by Seller's m ortgagee will be pa id to Seller. Taxes shall be prorated based on current417 year's tax with due allowance made for maximum allowable discount, homestead and other exemptions. If Closing418 occurs on a date when current year's millage is not fixed but current year's assessment is available, taxes will be419 prorated based upon such assessment and prior year's millage. If current year's assessment is not available, then420 taxes will be prorated on prior year's tax. If there are com pleted improvements on the Real Property by January 1st o421 year of Closing, which im provements were not in existence on January 1st of prior year, then taxes shall be p rorated422 based upon prior year's m illage and a t an equitable assessment to be agreed u pon betwee n the parties, failing which,423 request shall be made to the County Property Appraiser for an informal assessment taking into account available424 exemptions. A tax proration based on an estimate shall, at either party's request, be readjusted upon receipt of425 current year's tax bill. This S TAND ARD K shall survive Closing.426 L. ACCESS TO PROPERTY TO CONDUCT APPRAISALS, INSPECTIONS, AND WALK-THROUGH: Seller427 shall, upon reasonable notice, provide utilities service and access to Property for appraisals and inspections,428 including a walk-through (or follow-up w alk-through if neces sary) prior to C losing.429 M. RISK OF LOSS: If, after Effective Date, but before Closing, Property is damaged by fire or other casualty430 ("Casualty Loss") and cost of restoration (which shall include cost of pruning or removing dama ged trees) does not431 exceed 1.5% of Purchase Price, cost of restoration shall be an obligation of Seller and Closing shall proceed432 pursuant to terms of this Contract. If restoration is not completed as of Closing, a sum equal to 125% of estimated433 cost to com plete restoration (not to exceed 1.5 % of Purchase Price), will be escrow ed at Closing. If actual cost of434 restoration exceeds escrowed amount, Se ller shall pay such actual costs (but, not in excess of 1.5% of Purchase435 Price). Any unused portion of escrowed amount shall be returned to Seller. If cost of restoration exceeds 1.5% of436 Purchase Price, Buyer shall elect to either take Property "as is" together with the 1.5%, or receive a refund of the437 Deposit, thereby releasing Buyer and Seller from all further obligations under this Contract. Seller's sole obligation438 with respect to tree dam age by casualty or other natural occurrence shall be cost of pruning or removal.439 N. 1031 EXCHANGE: If either Seller or Buyer wish to enter into a like-kind exchange (either simultaneous with440 Closing or deferred) under Sec tion 1031 of the Internal Revenue Code ("Exch ange"), the other party shall cooperate441 in all reasonable respects to effectuate the Exchange, including execution of documents; provided, however,442 cooperating party shall incur no liability or expense related to the Exchange, and Closing shall not be contingent443 upon, nor extended or delayed by, such Exchan ge.444 0. CONTRACT NOT RECORDABLE; PERSONS BOUND; NOTICE; COPIES: Neither this Contract nor any445 notice of it shall be recorded in any p ublic records. This C ontract shall be binding on, and inure to the bene fit of, the446 parties and their respective heirs or successo rs in interest. Whene ver the context permits, singular shall include pluralBuyer's Initials Page 8 o f 10 Seller's InitialsFloridaRealtors/FloridaBar-ASIS-I Rev. 6/10O 20 10 Florida Realtors@ and The Florida Bar. All rights reserved.

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447 STANDARDS FOR REAL ESTATE TRANSACTIONS (CONTINUED)448 and one gender shall include all. Notice and delivery given by or to the a ttorney or broker (including such broker's rea449 estate licensee) representing any party shall be as effective as if given by or to that party. All notices must be in450 writing and may be made by mail, personal delivery or electronic (including "pdf') media. A legible facsimile or451 electronic (including "pdf') copy of this C ontract and any signatures hereon shall be considered for all purposes as an452 original.453 P. INTEGRATION; MODIFICATION: This Contract contains the full and complete understanding and agreemen454 of Buyer and Seller with respect to the transaction contemplated by this Contract and no prior agreements or455 representations shall be binding upo n Buyer or S eller unless included in this C ontract. No m odification to or change456 in this Con tract shall be valid or binding up on Buyer or Seller unless in writing and executed by the pa rties intended457 to be bound by it.458 Q. WAIVER: Failure of Buyer or Seller to insist on compliance with, or strict performance of, any provision of this459 Contract, or to take advantage of any right under this Contract, shall not constitute a waiver of other provisions or460 rights.461 R. RIDERS; ADDENDA; TYPEWRITTEN OR HANDWRllTEN PROVISIONS: Riders, addenda, and typewritten462 or hand written provisions shall control all printed provisions of this C ontract in conflict with them.463 S. COLLECTION or COLLECTED: slCOLLECTION" or llCOLLECTED'l means any checks tendered or received,464 including Deposits, have become actually and finally collected and deposited in the account of Escrow Agen465 Or Closing Agent. Closing and disbursement of funds and delivery of Closing documents may be delayed by466 Closing Agent unt il such amounts have been COLLECTED in Closing Agent's accounts.467 T. LOAN COMMITMENT: "Loan Commitment" means a statement by the lender setting forth the terms and468 conditions upon which the lender is willing to make a particular mortgage loan to a particular borrower.46 9 U. APPLICABLE LAW AND VENUE: This Contract shall be construed in accordance with the laws of the State of470 Florida and venue for reso lution of all disputes, whether by mediation, arbitration or litigation, shall lie in the county in471 which the R eal Property is located.472 X. BUYER WAIVER OF CLAIMS: Buyer waives any claims aga inst Seller and, to the extent permit ted by473 law, against any re al estate licensee involved in the negotiation o f this Contract, f or any defects or other474 damage that may exist at Closing of this Contract an d be subsequently discovered by the Buyer o r anyone475 claimingby, through, under or against the Buyer.476 ADDENDA AND ADDITIONAL TERMS477 19. ADDENDA: The following additional terms are included in the attached addenda and incorporated into this478. Contract (Check i f applicable):

A. Condom inium Assn. L. RESERVE D R. RezoningB. Hom eowners' Assn. 17S. Lease Purchase1C. Seller Financing 1 .Defective Drywall Lease OptionD. M ortgage Assum ption [7 N. Coastal Construction T. Pre-ClosingE. FHAlVA Financing Control Line OccupancyF. Appraisal Contingency [7 0 . nsulation Disclosure [7 U. Post-ClosingG. Short Sale P. Pre-1978 Housing Occupanc yH. H omeow ners' Insurance Statement (Lead V. Sale of Buyer'sI. FIRPTA Based Paint) PropertyJ. Interest-Bearing Acct. Q.Housing for Older W.Back-up ContractK. RESERVED Persons X. Kick-out Clause

Y. Seller's AttorneyApprovalZ. Buyer's AttorneyApproval[7AA. Licensee-PersonalInterest in Pr o~ er tv.[7 BB. Binding ArbitrationOther

479* 20. ADDITIONAL TERMS: PURSUANT TO SECTION 28 OF THE REAL ESTATE PURCHASE ADDENDUM. THIS480' DOCUMENT IS SUBJECT TO ALL TERMS AND CONDITIONS SET FORTH IN THE REAL ESTATE PURCHASEA R ~ * DDENDUM.

Buyer's Initials Page 9 of 10 Seller's InitialsFloridaReaItorsIFloridaBar-ASIS-1 Rev. 6/10 0 2010 Florida Realtors@and The Florida Bar. All rights reserved.

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494 COUNTER-OFFERIREJECTION495. [7 Seller counters Bu yer's offer (to accept the counter-offer, Buyer must sign or initial the counter-offered terms and496 deliver a copy of the a cceptance to S eller).497' Seller rejects Buyer's offer.498 THlS IS INTENDED TO BE A LEGALLY BINDING CONTRACT. IF NOT FULLY UNDERSTOOD, SEEK THE ADVICE499 OF AN ATTORNEY PRIOR TO SIGNING.500 THlS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR.501 Approval of this form by the Florida Realtors and The Florida Bar does not constitute an opinion that any of the term s502 and conditions in this Contract should be accepted by the parties in a particular transaction. Terms and conditions503 should be negotiated based upon the respective interests, objectives and bargaining positions of all interested504 persons.505 AN ASTERISK (*) FOLLOWING A LlNE NUMBER IN THE MARGIN INDICATES THE LlNE CONTAINS A BLAN K TO506 BE COMPLETED.

507, Buyer: Date:

508' Buyer: Date:

509- Seller: Date:

510' Seller: Date:511 Buyer's address for purposes of notice Seller's address for purposes of notice

515 BROKER: Listing and Cooperating Brokers, if any, named below (collectively, "Broker"), are the only Brokers entitled516 to comp ensation in connection with this Contract. Instruction to Closing Agent: Seller and B uyer direct Closing Agent517 to disburse at Closing the full amount of the brokerage fees as specified in separate brokerage518 agreements with the parties and cooperative agreements between the Brokers, except to the extent Broker has519 retained such fees from the e scrowed funds. Th is Contract shall not modify any M LS or other offer of comp ensation520 made by Seller or Listing Broker to Cooperating Brokers.521- ALBERT YABOR522 Cooperating Sales Associate, if any Listing Sales Associate523' SPA REALTY, INC.524 Cooperating Broker, if any Listing Broker

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MOP Revised 10/18/2009

FANNIE MAE MULTIPLE OFFERS NOTIFICATION

AND ACKNOWLEDGEMENT

The listing agent has received multiple offers for purchase of the following property:

REO ID:

PROPERTY ADDRESS:

BUYER NAME(S):

LISTING AGENT: _________________________ EMAIL: _____________________________

SELLING AGENT: _________________________ EMAIL: _____________________________

As selling agent, I acknowledge:

1. I am aware that multiple offers have been received and I will notify the buyerimmediately.

2. Only offers submitted to the Listing Agent no later than (date)_________ at

(time) __________ will be considered by the seller.3. The seller will accept or provide a counter offer ONLY to the offer that theseller (in the sellers sole discretion) determines to be the best offer.

4. If the first choice of best offer does not result in an accepted purchaseagreement, Seller will accept or provide a counter offer ONLY to the offerthat the Seller determines to be the next best offer, and so on.

5. I must sign this form and return it by email to the Listing Agent immediately.6. I am aware that I must also return this form a second time to indicate the

buyers response below.7. If I do not return this form indicating the buyers response, the buyers

pending offer will remain in force without change.

Selling Agent Signature Date

The buyer was notified that multiple offers were received and (check one):

The buyer has rescinded the offer to purchase. An offer termination is attached.

The buyers offer remains the same.

The buyer desires to revise the previously submitted offer. A new offer is attached.

For the sellers use in consideration of the buyers offer, the buyer has indicated the followingoccupancy intention (check one):

Will occupy the property as the buyers primary residence.

Will not occupy the property as the buyers primary residence.

Selling Agent Signature Date

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OWNER OCCUPANT CERTIFICATIONRider to the Real Estate Purchase Addendum

REO# _____________

Property Address ______________________________________

This is to certify that consistent with the representation made by me in the RealEstate Purchase Addendum, Section 4, Use of Property, I will occupy, establish and usethe above-referenced property as my primary residence within 60 days after the Closingand will continue to occupy the property as my primary residence for at least one yearafter the date of occupancy, unless extenuating circumstances arise which are beyond mycontrol. If the property is a multi-unit property, I may rent units other than the unit that Ioccupy as my primary residence. Furthermore, I fully understand that Fannie Mae isrelying upon my representation of being an owner occupant of the property, and that thesale of the property to me by Fannie Mae is conditioned upon this representation.

In the event that I do not occupy the property as my primary residence inaccordance with the above certification, I shall pay Ten Thousand Dollars ($10,000) toSeller as liquidated damages, which amount shall be in addition to Sellers right to retainany earnest money deposit and any other funds then paid by the Purchaser as liquidateddamages pursuant to Section 19 of the Real Estate Purchase Addendum and any otherremedy available to Seller at law or equity. Additionally, I agree to pay Sellersreasonable attorney fees and costs incurred by Seller in enforcing its rights hereunder.

____________________________________ ____________________PURCHASER Date

___________________________________ ____________________PURCHASER Date

___________________________________

PURCHASER EMAIL ADDRESS*

Agent certifies that he/she has not knowingly submitted to Seller the sales contract andReal Estate Purchase Addendum for the above referenced property on behalf of aninvestor purchaser. Agent further certifies that he/she is aware of the penalties to thebuyer for false certification.

___________________________________ ____________________SELLING (BUYERS) AGENT Date

______________________________________SELLING (BUYERS) AGENT EMAIL ADDRESS*

*Optional field. Providing an email address allows Fannie Mae to notify you of special HomePath offers in the future,which helps buyers and real estate professionals receive the maximum benefit from these opportunities.

OOC PE 11/2010

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NOTIFICATION TO LISTING AGENT

REO# _____________

Property Address ______________________________________

Listing broker/agent is hereby notified that if, for any reason, you have concern that theOwner Occupant Certification made by the PURCHASER(S) or SELLING AGENT isfalse, misleading or a misrepresentation of the truth that you should report this concern toyour Fannie Mae sales representative or Asset Management Provider.

I have read and understood this notification.

___________________________________ _____________________LISTING AGENT DATE

1A FNMA ADDENDUMS 123010[1]

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