R14-039 I RESOLUTION RI4 -039
3 A RESOLUTION OF THE CITY COMMISSION OF
4 THE CITY OF BOYNTON BEACH, FLORIDA,
; ACCEPTING THE OFFER OF $4,500 AS
61 SETTLEMENT OF THE CITY'S SECOND
71 MORTGAGE AS A RESULT OF A PROPOSED
SI SHORT SALE FOR DAVID AND ALEXIS MASSEY
BASED ON THE CITY'S SHORT SALE POLICY
11 FOR FIRST TIME HOMEBUYER ASSISTANCE
PROGRAM; AND PROVIDING AN EFFECTIVE
I DATE.
t
1
1 WHEREAS, with the assistance of the City of Boynton Beach's first time
I
1 homebuyer assistance program David and Alexis Massey purchased their home at 8 Via
Ili De Casas Sur #103 for $215,000 in June of 2006; and
1
1 WHEREAS, the City of Boynton Beach's second mortgage in the amount of
ii) $45,000 is a zero interest (0 %) lien that runs concurrent with the first mortgage; and
21 ( WHEREAS, rather than be foreclosed upon, the homeowner was able to secure
2 a buyer for the property and their bank has agreed to a short sale in the amount of
2 ' $125,000; and
WHEREAS, the proposed settlement offer is in accordance with the City's Short
I I
2 Sale Policy for the City's First Time Homebuyer Assistance Program; and
2 WHEREAS, the City Commission of the City of Boynton Beach upon
2 recommendation of staff, deems it to be in the best interest of the citizens and residents
2 of the City of Boynton Beach to accept the offer of $4,500 as settlement of the City's
28 second Mortgage as a result of the proposed short sale for David and Alexis Massey.
2') NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
3 OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
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11
Section 1. The foregoing "Whereas" clauses are hereby ratified and
2 confirmed as being true and correct and are hereby made a specific part of this
3 Resolution upon adoption.
4 Section 2. The City Commission of the City of Boynton Beach, Florida
5 hereby accepts the offer of $4,500 as settlement of the City's second Mortgage as a result
6 of the proposed short sale for David and Alexis Massey.
7 Section 3. This Resolution will become effective immediately upon passage.
PASSED AND ADOPTED this 6 day of May, 2014.
i CITY OF BOYNTON BEACH, FLORIDA
a or — Je 1y, Tay
V e Mayor — Joe Casello
II s t
Commis inner — i • yid T. ' - ker
' emmissioner — Ma(J Cray
e;j-
dIP
Commissioner — Michael M. FitzpAck
ATTEST:
4114; •
Ja t M. Prainito, MMC
ity
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The City of Boynton Beach
DEPARTMENT OF DEVELOPMENT
rd COMMUNITY IMPROVEMENT DIVISION
100E Boynton Beach Boulevard
■ I ( Post Office Box 310
Boynton Beach, Florida 33425 -0310
TEL 561 742 6066
r� FAX 561 742 6089
www Boynton -beacn 010
City of Boynton Beach — Community Improvement Division
SHORT SALE POLICY & GUIDELINES
The City of Boynton Beach provides second mortgage subsidy assistance to first -time home buyers through
its state SHIP housing assistance programs. The City Commission approved state regulations require the
Community Improvement Division to encumber, by way of a thirty (30) year mortgage, all single - family
residential property financially assisted with first time homebuyer grant funding. If the homeowner sells the
assisted property or transfers title in any way, the entire amount of the second mortgage subsidy becomes
due and payable to the City of Boynton Beach.
When assisted property owners become financially distressed and can no longer afford to pay their first
mortgage; or when the property owner must relocate out of Palm Beach County, a Short Sale will be
authorized based upon the following criteria:
I . The first mortgage lender must reimburse to City of Boynton Beach $4,000.00 or eight percent (8 %) of
the remaining balance owed on the City's Second Mortgage, whichever is less.
2. The buyer of the assisted property cannot be a relative of the seller.
3. The seller of the assisted property shall not receive any money from the Short Sale transaction.
4. Community Improvement Division must review and approve the HUD Settlement Statement prior to
the Short Sale closing.
5. Upon receipt of the Short Sale reimbursement, the City shall waive all rights to the file future Judgments
for deficiency against the homeowner.
6. Upon receipt of the Short Sale reimbursement, the Community Improvement Division shall satisfy the
second mortgage subsidy. A request will be made for the City Attorney's office to prepare the
Satisfaction for the City Manager's signature.
7. Clients that have been assisted with the City's Short Sale Policy are restricted from applying to the City
of Boynton Beach for funding for any of its housing assistance programs for a period of five (5) years.
8. The owner of the property must provide proof of hardship that must include itemization of finances,
bank statements, proof of income, tax returns, I St Mortgage information and property information with
any request for a short sale.
"Breeze into Boynton Beach, America's Gateway to the Gultstream"
S \Community Improvement \PohaestShortSalePolicy doc
„. HUD-1 OMB Approval No. 2502 -0265
.rr A. Settlement Statement (HUD -1)
B. Typed Loan
Q 1 FHA Q 2 RtiS ` 3 Cony Urdns 6. File Number 7. Loan Number 8. Mortg. Ms. Casa Num.
0 4 V.A 0 5 Conv. Ins 5332.01
ID.
C. NOTE This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown items
marked'(p.o.c.)' were paid outside the closing; they are shown here for informebonal purposes and are not included in the totals.
0, NAME OF BORROWER: Rodeos Montalvo and Felicita Montalvo
Address of Borrower
E. NAME OF SELLER: David Massey and Alexis Duarte-Massey, husband and code
Address of Seller: 8 Via de Cases Sur, #103, Boynton Beach, Florida 33426
F. NAME OF LENDER: To be named
Address of Lender:
G. PROPERTY LOCATION' 8 Via de Cases Sur, #103, Boynton Beach, Florida 33426
H. SETTLEMENT AGENT: FlondaTfbeWarks, Inc.
Address: 150 South Pine Island Road, Suite 417, Plantation, Florida 33324 Phone 954- 915-0510
Place of Settlement: 150 South Pine Island Road, Suite 417, Plantation, Florida 33324
I. SETTLEMENT DATE: 5/30/14 DISBURSEMENT DATE: 5/30/14
V . trF 1 ,r; t a , ,0• , •
It , 10. - t . sE�ilcr
101. Contract sales price 125,00000 401. Contract sales price 125,000.00
102 Personal prapmty 402. Personal property
103. Settlement charges to borrower (Line 1400) 1,828 45 403.
104 404.
105. 405
Adlustrtl „ ni, it n tons p.111111\1 srllri in advanci : Adprstrnents for Items isald by srilrr in advanCr
106. City/town taxes 406 City/town taxes
107 County taxes (ad valorem) 407. County taxes (ad valorem)
108. Assessments 408. Assessments
109. County taxes (non ad valorem) from 05/30/14 to 09/30/14 75 01 409. County taxes (non ad valorem) from 05/30/14 to 09/30/14 75.01
110. 410.
111 411
112 412
120. Gross amount due from borrower. 126,903.48 420. Gross amount due to seller: 125,075.01
- int o Anoints paid or in behalf of bnrroxr=r Jr7 FL >d:,.r.:,n, um pi•r, .n' dun to y€'l'
201 Deposit or earnest money 501 Excess deposit (see instructions)
202 Principal amount of new loan(s) 112,500 0D 502. Settlement charges to saber (line 1400) 11,450 00
203 Existing loan(s) taken subject to 503. Existing loan(s) taken subject to
204. Principal amount of second mortgage 504. Pay»ff of first mortgage loan (SPS) 108,537 91
205 505 Payoff of second mortgage loan (City of Boynton Beach) 4,500 00
206 506
207. 507
208 Principal amt of mortgage held by seller 508. Principal amt of mortgage beld by seller
209. 509
209a. 509a.
AJI, +Slim Cr,l I , i lean, unpaid by sr.11rr: All ii,,tmr n':: •.r rrr.mS onVa, 1 0. sally•.
210 City/town taxes _ 510. CNykawn taxes
211. County taxes (ad valorem) from 01/01/14 to 05/30/14 58710 511 County texas (ad valorem) from 01/01/14 to 05/30/14 587.10
212. Assessments 512 Assessments
213 513.
214 514
215 515
216 516.
217 517
218 518
219 519.
220. Total paid by/or borrower: 113,087.10 520. Total reductions In amount due sear: 125,075.01
1110 C.rsh at Sr tIt - hsn1tio horr■vrrr, ,ut� :_,s m our .. nlr nr.nl I - 'Rrnn sou r
301 Gross amount due from borrower (line 120) 126,903.46 601 Gross amount due to seller (line 420) 125,075 01
302 Less amount paid by !for the borrower (line 220) (113,087.10) 602. Less total reductions In amount due seller (line 520) (125,075 01)
303 Cash ( 0 From O To ) Borrower: 13,81536 603 Cash ( ❑ To ❑ From ) Seller 000
•
The Public Reporting Burden for this collection of Information Is estimated at 35 minutes per response for collecting, reviewing, and reporting the data This agency
may not collect this Information, and you are not required to complete this form, unless it displays a currently valid OMB control number No confidentiality is assured,
this disclosure is mandatory This is designed to provide the parties toe RESPA covered transaction with Information during the settlement process
Borowe's WBagst: t Sellars Initiat(s)
(
HUD -1 U.S. Department of Housing and Urban Development Page 2
700. Total Real Estate Broker Fees $7,500.00 Paid from Paid from
earovrer's Selter's
Division of commission (Nne 700) as follows' Funds at Funds at
701. $ 3,750 00 to Charles Ruleberg Really Settlement Settlement
702. $ 3,750 00 to Re/Mstt Realty Professionals
703 Commission paid at settlement 7,500 00
704.
705. Administrative/transaction fee to Re/Max Realty Professionals 295.00
801. Or
ur origination charge (from GFE #H )
802. Your credit or charge (points) for the specific interest rate chosen (from GFE #2)
803 Your adjusted origination charges to (from GFE A)
804 Appraisal fee to (from GFE #3)
805. Credit report to (from GFE #3)
808 Tax s ervice to (fran GFE #3)
807 Flood certification to (from GFE #3)
808. to
809 to
810 to
811 to
812 to
813 to
901. Daily interest charges from to /day (from GFE #10)
902 Mortgage Insurance premium for months to (from GFE #3)
903. Homeowner's Insurance premium fi years to (from GFE #11)
904 Flood insurance premium for years to
905. to
1001 Initial deposit for your escrow account (from GFE #9)
1002 Homeowner's insurance months 80 per month
1003 Mortgage Insurance months a Per month
1004 Property taxes months tQ Per month
1005 Flood Insurance months tai per month
1006 months d$ per month
1007 months pe mortth
1008. months 491 Per month
1009. Aggregate accounting adjustment
1101. Title services and lender's title Insurance (from GFE #4) 597 53
1102 Settlement or closing fee to Florida lltieWorks, Inc $450 00 750 00
1103 Owner's title insurance to Old Republic Nat Title/Florida TltieWorks (from GFE #5) 700 00
OF6 -700 00
1104 Lender's title insurance to Old Republic Nat TNe/FlondaTntleWorks $14750
MF6-25 00,5.1- 25,8.1 -25;F9 3 -72.50
1105. Lender's title policy limit $112,500.00
1106 Owner's title policy limn $125,000.00
1107 Agent's portion of the total title insurance premium $593.25 to Florida TrtaWorks, Inc
1108 Underwriter's portion of the total title insurance premium $254 25 to Old Republic Redone Title Insurance Caspar
1109. Abstract or role search to Florida TrtleWorks, Inc 350.00
1110. Document preparation to Scott Rosen, Esq. 450.00
1111. Lien searches to A-1 Title Support Se aces 300.00
1112 Condo essoc estoppet/transferft to South Lake tl Condominium As 300.00
1113. Courier/wire transfer /overnight ma to Florida T lleWatw, Inc 75.00 75.00
1201 Goverment recording charges (from GFE #7) 242 20
1202 Deed $27 60 Mortgage(s) $21460 Releases $0 00 $24220
1203. Transfer tans (from GFE #8) 618,75
1204. City/County tax/stamps Dead $0.00 Mortgage(s) $225.00
1205 State tax/stamps Deed $875.00 Malgage(a) $393 75 875 00
1208.
1207
1208.
1301. Required services that you can shop for (from GFE #8)
1302. 2013 real estate taxes to Palm Beach County Tax Cotieck 1659 02 POC (Sr'
1303. Water /sewer escrow to Florida TitleWorks. Inc. 150 00
1304. to
1305. to
1308. to
1307 to
1308. to
1309.
( Enter on lines 103, Section J and 502, Section K) 1,828 45 11,450 00
POC (B) Paid outside of closing by borrower
POC (9) ® Pald outside of dosing by seller
Borrowers Initiel(s)• Seller's kNtial(s)•
SETTLEMENT CHARGES AND LOAN TERMS
Page 3
Settlement Charges
•
.
Our origination dtarge # 801 $.00 $0 00
I Your creditor charge (points) for the specific Interest rate chosen # 802 $.001 $000
Your adjusted onginatlan charges # 803 I $ 001 $0 00 I
Transfer taros # 1203 $ 001 $018 75
Government recording charges # 1201 $ 00 $242 20
This services and lender% btie insurance # 1101 $.001 $59750
so 001 $839 70
_ . $839.70 or 0 0D%
Initial depcefl for your escrow account # 1001 I $ 00 •.00
Dairy interest charges from # 901 sod sp oo l
I Homeowner's insurance premium for # 903 $.00 f so.00
Loan Terms
Your initial loan amount is $ 112,500.00
Your ban term le years
Your initial Interest raters
Your Initial monthly amount owed for principal, Interest, $ includes
and any mortgage insurance is
r Pnncrpal r Interest r Mortgage insurance
Can your interest rate risen • No 0 Yes , n can rise to a mtadmum of 00, The first change will be
on and can change again every tr
Every change date, your interest rate can Increase or decrease
by OD % Over the life of the ban, your interest rate is guaranteed to never be
lower than 00. or higher than 00
Even if you make payments an time, can your loan * No 0 Yes , it can ens to a maximum of $ 00
balance rise?
Even If you make payments on time, can your monthly • No 0 Yes , the first increase can be (xi id the monthly amount
amount owed for principal, interest, and mortgage awed can rise to $ 00
insurance rise?
The maximum it can ever nsa to is $ .00
Does your loan have a prepayment penalty? • No 0 Yes , your maximum prepayment penalty Is $ 00
Does your loan have a balloon payment? • No 0 Yes . you have a balloon payment of $ 00 is In
years on 00/00/0000
Total monthly amount owed including escrow You do not have a monthly escrow payment for items, such as property
account payments taxes and homeowner's insurance You must
pay these items directly yourself
C) You have an additional monthly escrow payment of $ 00
that results in a total Initial monthly amount owed of $ us includes
prncipal, interest, any mortgage insurance and any Items checked below
r Property taxes r Homeowner's Insurance
r Flood insurance r
r
Nola• If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender.
Borrower's Nrttel(s): Seller's 1nitW(s):
•
11
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Print Page 1 of 1
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ML: F 1 2 0 6 4 1 0 SC: CRAM / as R& tarp Reeky LLC AREAL 4410 SMOKE: Y/ UN RE(k N STATUS: PS
AD: $ YMR De Caws Sr UN: x103 RP: UP: LIh :90,000
CT: PAU4BO1 PAL: 00934517040081030 MT: BOYITION RP: X40 OEOAN: P913
1 G:::S(XTTH LANE U COND INOT 103 BLDG B FL*: 1 TOM 2 ELDON:
STYLE: 131
TYPE: TOW NE
MC 114: Se 17 3D: 4 PN: 1030 NAP. sr. FL
DY: Dos Lams South Wm CIA: Dos Laps S11RM Lade swum 2
NM F$: UNIT OUR OUT GOMPLX:
LA: *1,367 TA: 1,500 YR: :AMP/ RS CONY: 15P: 163 2 MOH: 2 HUATH: 0 NT: 13
UNIT: SPLTLEY OM N Were DOCKSPACE:V:
10Y111 CONDO SANASe 1 CPT: PARK SPACE*:
WTNPR: N WTRAQ PACE:
UMW: WW1 3EC R: ENT-CARD C MPTENC SALM
COW: MOCK D1163 SF /FF: 0
PARR: GOWNED PAWNS RESTRICT:
FLOOR: WOOD NDf LS MAY: 365 *LSE YR: 1
NEW 31AIMPULLY UPGRADED TrANNHOUSE WITH 1 CAR SAME AND NEWER A/C U30111 1 N4 GAUD CONNUNETY. UPGRADED ffit
BATHROOMS, SIXIMEN STEEL. APPEL/A :SIN WOOI. LARGE UVI IG ARM, AND A 42 NIQ1 N.ATMEN TV S MUM PNie
IN THE SALE THAT S ALREADY HUNG DH THE LMNG ROOK CAN BE RENTED THE 1ST YEAR, GOOD NM INVESTORS. MA PIE HBt
INCLUDES CABLE
DIM 95 ICEDI TD GATEWAY EETW1ST. TURN RIGHT ON CONGRISS AND ITS FDRSTCONNUNDY ON WENT SIDE CIHIED DON LAGOS.
IRK -REM: TEXT OR CALL LWOY FOR SHOVING INSTRUCTIONS AT 9548374158. CANNOT BE SOWN UNTN.00TOBER 1ST.
Li: DR: DA: KT: FR: FL: PR:
M& 2& 311: 411: DN: UR: PI:
.EDItte OTHER CP: 0
MAYA: PET&Y/ RUGS
ROOM
INTER: MEMO
EQUIP: D191WA91 DISPOSAL DRYER WOW RANGEE PERKS MEIER
WNDW: EXTEM PATIO
HAIRY CABLE BIWAN
WSW: CLUBMEN BME N Off POOR. THIMRS
RESIN: OKUMSE 010.SE1ST APPRY: ASSOC HOP* N
HEAT: CENTRAL COOL: CORRAL
7WESCONINCOIN OMER ASSUME DAY/5914 479,000
NM N TOA: 0 TOTAL f4 $702 /Q DPI/ eh 479,000
TAXES: 41,009 TAXYR: *7011 TAI: NOMESTEAD TM:
APP PEE $100 PLAINT PE: 90 LAND LSe $0 NEC LSO $0
SPEC: AS-5 PONS FUNDING IDX: Y
L PWW: 3163572 / laxly Ghtsudl AMY 9544373113 OPH: 000331-5101x 0
2PIN: 2115: PAX: 9544144515
LTY: ER OAII: ONO: 2PHI:
URL: PHOTO: 11115 IRO: P
Ef4 JL4 iwxrtr i rtnlr:wv-4en.rwn VT:
COSA: 3.0% COTS 3.0% COHNts 9.09E VAR: N 3k Oen Age N MID:
=UP: OWPBU SNOW: ONONDI IS L8(0A LIN 09/2:/12 RD: 04/76/14
PREY STAID& T STATUS CHH& 10/111112 OK ADY: Y L1:
NW* PRICE CHIN: OR1S*190.000 Lk
SINN: YICEUATIFULLY UPGM VED TOWNHOUSE W/1 CAR GARAGE W NATO COMMUNITY. STAINLESSAPPLIMICES, 42IN PLAT SCREEN TV
INCLUDED. HDA INCLUDED CABLE, RENTALS OK
PD: 10/16/12 UNITING: C DM; 22 FURL L CD: SP:
ECD:07/2B/13 CS: SPID: Sit
TR: SO sPm2: SZ
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http:// southfloridamis.com/5.8.09.32870 Dlg.asp 9/30/2013
"AS IS" Residential contract For Sale And Purchase
THIS FORM HAS BEEN APPROVED BY THE FLORIDA REALTORS AND THE FLORIDA BAR
1" PARTIES: levid Matey antklaXialdattidelassnY Meter),
2• and osdronoslanfitrolvn andFelker mixotervp - ("Buyer),
3 agree that Seiler shall sell and Buyer shall buy the fallowing described Reel Property and Personal Property
4 (collectively "Property") pursuant to the terms and conditions of this AS IS Residential Contract For Sale And Purchase and
5 any riders and addenda ntracr
e 1. PROPERTY DEti ION:
7' (a) Street address, city, zip: ; t o,, ,, . • , :i.1„ .. „, : ,.r,
a' (b) Property is located ht onioPeei , Florida. Real Property Tax ID No.:OR- 4.3- 4b-17 -t oft-4.1-4.4 MS-V30
9' (c) Real Property: The legal description is South Laid. Conds Ore.And Two Dec( In Oralielipillo An
11
12 together with all existing improvements and fixtures, including built-in appliances, built-in furnishing and attached
13 wall-to-well carpeting and flooring Meal Property”) unless specifically excluded In Paragraph 1(e) or by other terms
w of this Contract.
+s (d) Personal Property: Unless, excluded in Paragraph 1(e) or by other terms of this Contract, the following items which
18 are owned by Seger and existing on the Property as of the date of the Initial Pifer are Included In the purchase:
17 range(syoven(s), refrigerator(s), dishwasher(s), disposal, ceiling tan(s), intercom, tight fixture(s), drapery rods and
18 draperies, blinds, window treatments, smoke detector(s), garage door opener(s). security gate and other access
1 9 devices, and storm shuttersfpanets rPersonat Property'").
20• Other Personal Property Items included In this purchase are: 42 Flat ac_.re_ n TV In t t living roam currently hun ;pr;„
21 r,: : d
22 Personal Property is Indio ..' in i Purchase Price, has no contributory value, and a be . ' for the Buyer.
23' (e) The following items are excluded from the purchase: Washer and Dryer are excluded
24
25 PURCHASE PRICE AND CLOSING
2e' 2. PURCHASE PRICE (U.S. currency)' $125.000.00
27' (a) Initial deposit to be held in escrow in the amount of (checks subject to COLLECTION) $ MA NI
26 The initial deposit made payable end delivered to 'Escrow Agenr named below
29' (CHECK Of+i (i) Q accompanies offeror (II) Q j is to be made within 3 (if left blank,
30 then 3e) days after Effective Date. IF NEITHER BOX IS CHECKED, THEN OPTION($)
31 SHALL BE DEEMED SELECTED.
32' Escrow Agent Information: Nemo: Manes This Services. LLC
33' Address: 950 S. Pine Island Road, Suite A150
34• Phone: 954.472-502$ ,E -nteU; lsannaaroettextiiia.rnm Fax:$54- 32)40105 .
3s' (b) Additional depoalt to be delivered to Escrow Agent within 10 (if left blank, then 10)
35" days after Effi3ctive Data $Ig.5p0.O0
37 (Ali deposits paid or agreed to be paid, are collectively referred to as the "Deposit`)
38• (c) Financing: Express as a dollar amount or percentage (`loan Amount) see Paragraph 8 . ............... 112,500.00
3rr (d) Other: $
40 (a) Balance to close (not inckxUng Buyers closing costs, prepalds and prorations) by wire
41' transfer or other COLLECTED funds,.................. $
42 NOTE: For the definition of "COLLECTION" or "COLLECTED" see STANDARD S.
43 3. TIME FOR ACCEPTANCE OF OFFER AND COUNTER •FFERS, EFFECTIVE DATE:
4 (a) if not signed by Buyer and Seger, and an executed copy delivered to all parrtlees on or before 4ter2O14
45' , this offer shall be deemed withdrawn and the Deposit, if any shall be returned to
ae Buyer. Unless otherwise stated, time for acceptance of any counter - offers shall be within 2 days after the day the
41 counter -offer is delivered.
48 (b) The effective date of this Contract shall be the date when the tast one of the Buyer and Seller has signed or initialed
4 and delivered this offer or final counter -offer ("Effective Date).
50 4. CLOSING DATE: Unless modified by other provisions of this Contract, the closing of this transaction shall occur and
s1 the closing documents required to be furnished by each party pursuant to this Contract shalt be delivered ('Closing) on
sr May TO. 2214 (' Closing Date'), at the time established by the Closing Agent.
53 5. EXTENSION OF CLOSING DATE:
54 (a) If Closing funds from Buyer's lender(s) are not available at time of Closing due to Truth In Lending Act (TILA) notice
ss requirements, Closing shall be extended for such period necessary to satisfy TILA notice requiremens, not to
as exceed 7 days.
Buyer's initials !_1... ._ __ . Seller's Initials .�1[Y i
FlaadeResltarslFtorldo8ar .ASIS -2 Rev,8r13 0 2013 Florida Reallors°ard The Fl Ber M right rose sd
Short Sale Addendum to Purchase and Sale Contract x i Florfeaors°
The toliowrng provisions are made part of the Contract for Sate and Purchase or Residential Sate and Purchase Contract between
_ a. . .. „ . _ ( Seller) and
Rathrmwc Mrsntahrn Arid FiaDelta Mnnfervo (Buyer) concerning the Property located
at 8 Via De Camas Bar 103 t3ymton Beach-PL. =13d94
1. Approval of the Lender: This Contract Is contingent upon; (a) the Setters I enders) and/or other lien hotder(s) ( collectively
the 'Lender") approval of the purchase price, terms of the Contract and the Rtio -1 settlement statement (b) the Lender's
agreement to accept a payoff which is less than the balance due on the loan or ether indebtedness end (c) the Lender's
release and satisfaction of the rnortgagets) and/or other Metes) upon receipt of discounted payoff. Seller agrees to disclose or
provide any requested information or documentation to the Lender for the purpose of Obtaining approval of this shortsale Contract If
Seller obtains an approval from Lender, Seller shell deliver written notice otthe approval to the Buyer no later then 3 days after
receipt of the approval If Seller does not deliver written notice to Buyer that Lender has approved the purchase price and contract
tents within days from Effective Date ( Approval Deadline') (30 days if left blank), or if Lender rejects this Contract prior to
the expiration of the Approval Deadline, either party may thereafter cancel the Contract by delivering written notice to the other,
However, such right to cancel shall cease to exist if Seller delivered written notice that the Contract has been approved by the
Lender
2. Effeetfve Date and Time for Acceptance: The Effective Date and the time for acceptance of all offers and counteroffers under the
Contract shall be computed as set forth in the Contract.
3. Time Periods: (check one)
❑ Except for Approval (eadline, all time periods far inspections, contingencies, deposit(s) and other obligations under the
Contract shall commence from the date Seller delivers written notice to Buyer that the Contract has been approved by the Lender
IX
All time periods under the Contract shall commence from the Effective Data under the Contract.
4. Acknowledgment by Buyer:. Buyer acknowledges that the Lender is not party to the Contract and therefore is not
obligated to approve the Contract. Buyer further acknowledges that Seller and Broker are not liable for delays caused by Lender,
failure of the Lender to approve the Contract, failure of the Lender to complete the short sale after approving the Contract or any
costs and expenses (such as payments for loan applications, inspections, end appraisals) associated with the delays or Lender's
failure to approve the Contract or complete the Short Sale alter approving the Contract.
5. Seller Acknowledgment: Seller acknowledges that a short sale may result in Lender requiring the Safer to pay the difference of
what was owed as a deficiency judgment that the Lender's forgiveness of debt may be a taxable event to the Seller and that Seller's
credit may be negatively impacted. Seller also acknowledges that Lender may require Safer to bring funds to Closing or to executes
promissory note. Seller it advised to Consult with appropriate financial, legal and tax professionals. Seller agrees to rely on such
professionals and not Broker for tax and legal advice. Seller agrees to release Broker and its associates from all liability regarding
the consequences of a short sate.
6. Multiple Otfera; (check one) ig During the term of this Contract, Seller may not accept any beck -up offers or enter into any back -up
contracts unless otherwise instructed, directed or required by Lender. 0 During the term of this Contract, Seller may accept a back-
up offer or enter into a back -up contract that is conditioned upon termination of Contract
This addendum emends the above- referenced Contract between Seller and Buyer. All other non - conflicting provisions of that
agreement remain in full force and effect.
$ LEER D 1'B SELLER TE
Wj. O My 7. ge14 .;( rr"'e �- Mar 7 2014
BUYE DATE BUYER GATE
SSA -3 Rev. 12/2010 43 2010 Fiaddb REALTORS 45 AMt Rights Reserved
Addendum to Contract for Residential Sale and Purchase
if initialed by all parties, the terms below will be incorporated into the Contract for Residential Sale and Purchase
2' between .: . „ : , . - . » - ,.. ,
3' and Ra emas lfiontabto.ani felleita ilontatyo ,_,_( "Buyer )
4' concerning the Property described as 8 Via tie Casas Sur 103 Boynton Beaeh L X4
5'
6' t .) t i - ) J. Homeowners' Association: The Property Is located in a community with a
7' Ovolunta (see the Disclosure Summary below) homeowners' association ( "Association "). Seller's
a warranty under Paragraph 8 of this Contract, risk of loss under Paragraph 9 of this Contract, or As is with Right to
s Inspect Addendum (if applicable) extend only to the Property and does not extend to common areas or facilities
10 descrIbed below.
71 Notice: Association documents may be obtained from the county record office or, If not a public record, from the
12 developer or Association manager. The Property may be subject to recorded restrictive covenants governing the use
3 and occupancy of properties in the community and may be subject to special assessments,
14 1. Association Approval: If the Association documents give the Association the right to approve Buyer as a
1s purchaser, this Contract Is contingent on such approval by the Association. Buyer will apply for approval within
16' 5 days (5 days If left blank) after Effective Date and use diligent effort to obtain approval, including making
17 personal appearances and paying related fees If required. Seller and Buyer will sign and deliver any documents
to required by the Association to complete the transfer. If Buyer Is not approved, this Contract will terminate; and
19 Buyer's deposit(s) wilt be refunded unless this Contract provides otherwise,
20 2. Right of First Refusal: If the Association has a right of first refusal to buy the Property, this Contract is contingent
21 on the Association deciding not to exercise such right. Seller wilt, within 3 days after receipt of the Association's
22 decision, give Buyer written notice of the decision. if the Association exercises its right of fast refusal. this
23 Contract will terminate, Buyer's deposits) will be refunded unless this Contract provides otherwise, and Seller
24 will pay broker's full commission at Closing in recognition that broker procured the sale.
2s 3. Fees: Buyer will pay any application, transfer, and initial membership fees charged by the Association. Seller will
28 pay all fines imposed against the Property as of Closing and any lees the Association charges to provide
27 information about its fees or the Property and will bring maintenance and similar periodic fees and rents on any
28 recreational areas current as of Closing. tf, after Effective Date, the Association Imposes a special or other
2s assessment for improvements, work, or services, Seller will pay all amounts due before Closing and Buyer will
30' pay all amounts due on or after Closing. If special assessments may be paid in installments 111Seiter °Buyer
31 (Buyer if left blank) will pay installments due after Closing. If Seller is checked, Sailer will pay the assessment in
32 full before or at Closing. Seller represents that he/she is not aware of any pending special or other assessment
33' that has been levied by the Association, except as follows:
34'
35 Seller represents that he/she is not aware of any pending special or other assessment that has been an item on
as the agenda or reported in the minutes of the Association within 12 months before Effective Date ( "Pending "),
37' except as follows:
38'
38 if special or other assessments, levied or Pending, exist as of Effective Date and have not been disclosed
40 above by Seller, then Seller will paay such assessments in full before or at Closing.
41 The following dues, maintenance, and/or fees are currently charged by the Association:
42' $ .L nn per month to�anNy
43' $ per to
aa• $
per
(See Continuation)
crisp. 13 IJ. Ho nwwrers' Association 4ddga,dumj Rnv 3 COi3 R rie% Association al REALM
J. Homeowners' Association Addendum (Continued)
45 4. Damage to Common Elements: if any portion of the common elements is damaged due to fire, hurricane, or
4r other casualty before Closing, either party may cancel this Contract and Buyer's deposit(s) will be refunded if (i)
41 as a result of damage to the common elements, the Property appraises below the purchase price and either
46 the parties cannot agree on a new purchase price or Buyer. elects not to proceed, or (li) the Association
40 cannot determine the assessment attributable to the Property for the damage at least 5 days before
so Closing, or (i }1) the assessment determined or Imposed by the Association attributable to the Property for the
si damage to the common elements is greater than $ or % (1.5% If left blank) of the
52 purchase price.
53 5. Disciosure Summary for Mandatory Associations: IF THE DISCLOSURE SUMMARY REQUIRED BY
54 SECTION 720.401, FLORIDA STATUTES, HAS NOT BEEN PROVIDED TO THE PROSPECTIVE
s5 PURCHASER BEFORE EXECUTING THIS CONTRACT FOR SALE, THIS CONTRACT IS
56 VOIDABLE BY BUYER BY DELIVERING TO SELLER OR SELLER'S AGENT OR REPRESENTATIVE
57 WRITTEN NOTICE OF THE BUYER'S INTENTION TO CANCEL WITHIN 3 DAYS AFTER RECEIPT OF
58 THE DISCLOSURE SUMMARY OR PRIOR TO CLOSING, WHICHEVER OCCURS FIRST. ANY
se PURPORTED WAIVER OF THIS VOIDABIL }TY RIGHT HAS NO EFFECT. BUYER'S RIGHT TO VOID THIS
80 CONTRACT SHALL TERMINATE AT CLOSING.
s 1 • DISCLOSURE SUMMARY FOR (Name of Community): Dns Lagos eolith Lake
62 (a) AS A PURCHASER OF PROPERTY IN THIS COMMUNITY, YOU WILL BE OBLIGATED TO BE A MEMBER
8:3 OF A HOMEOWNERS' ASSOCIATION.
E4 (b) THERE HAVE BEEN OR WILL BE RECORDED RESTRICTIVE COVENANTS GOVERNING THE USE AND
65 OCCUPANCY OF PROPERTIES IN THIS COMMUNITY.
88 (c) YOU WILL BE OBLIGATED TO PAY ASSESSMENTS TO THE ASSOCIATION. ASSESSMENTS MAY BE
67' SUBJECT TO PERIODIC CHANGE. IF APPLICABLE THE CURRENT AMOUNT IS $ a__en
so' PER month, , YOU WILL ALSO BE OBLIGATED TO PAY ANY SPECIAL ASSESSMENTS
ss IMPOSED BY THE ASSOCIATION. SUCH SPECIAL ASSESSMENTS MAY BE SUBJECT TO CHANGE, IF
70' APPLICABLE, THE CURRENT AMOUNT IS $ 944 PER month
71 (d) YOU MAY BE OBLIGATED TO PAY SPECIAL ASSESSMENTS TO THE RESPECTIVE MUNICIPAUTY,
72 COUNTY, OR SPECIAL DISTRICT, ALL ASSESSMENTS ARE SUBJECT TO PERIODIC CHANGE.
73 (e) YOUR FAILURE TO PAY SPECIAL ASSESSMENTS OR ASSESSMENTS LEVIED BY A MANDATORY
74 HOMEOWNERS' ASSOCIATION COULD RESULT IN A LIEN ON YOUR PROPERTY.
7s (f) THERE MAY BE AN OBLIGATION TO PAY RENT OR LAND USE FEES FOR RECREATIONAL OR OTHER
78 COMMONLY USED FACILITIES AS AN OBLIGATION OF MEMBERSHIP EN THE
77' HOMEOWNERS' ASSOCIATION. IF APPLICABLE, THE CURRENT AMOUNT IS $
78' PER
79 (g) THE DEVELOPER MAY HAVE THE RIGHT TO AMEND THE RESTRICTIVE COVENANTS WITHOUT THE
so APPROVAL OF THE ASSOCIATION MEMBERSHIP OR THE APPROVAL OF THE PARCEL OWNERS.
at (h) THE STATEMENTS CONTAINED IN THIS DISCLOSURE FORM ARE ONLY SUMMARY IN NATURE, AND,
82 AS A PROSPECTIVE PURCHASER, YOU SHOULD REFER TO THE COVENANTS AND THE
ASSOCIATION GOVERNING DOCUMENTS BEFORE PURCHASING PROPERTY.
84 (I) THESE DOCUMENTS ARE EITHER MATTERS OF PUBLIC RECORD AND CAN BE OBTAINED FROM
85 THE RECORD OFFICE IN THE COUNTY WHERE THE PROPERTY IS LOCATED, OR ARE NOT
8G RECORDED AND CAN Be OBTAINED FROM THE DEVELOPER.
$7 Buyer acknowledges receipt of this Disclosure Summary before signing this Contract.
88' ���rB[1 ,MET. 21U __ 4.,'i2, + Mar 7. 2014
89 Buy r Date Buyer Date
Buyer } and Seller iN) (Ell acknowtedge receipt of a copy of this page.
CRSP•13 J. / Omlawnem' Aseociation Addendum) Rev 13 4.^2013 Florid* Aeeoumtren of REALTORS'