Bonefish Bay Islamorada - Construction Rider (Exhibit C)

DESCRIPTION OF RESIDENCE.
1. Seller agrees to negotiate a contract with a general contractor (the "Contractor") licensed under the laws of the State of Florida to construct the residence ("Residence") in accordance with the plans and specifications described on attached Exhibit A (the "Plans and Specifications"). Purchaser agrees to sign documentation reasonably required by Contractor and Seller with respect to construction of the Residence. References to "Residence" in this Construction Rider shall mean and refer to the improvements to be constructed in accordance with the Plans and Specifications and any Change Orders, as hereinafter defined, and is sometimes herein referred to as the "Work".
2. Purchaser acknowledges and agrees that it is a widely observed construction industry practice for plans and specifications for any home or building to be changed and adjusted from time to time in order to accommodate on-going "in the field" construction factors. Purchaser further agrees that these changes and adjustments are essential in order to permit all components of the Residence to be integrated into a well functioning and aesthetically pleasing product in an expeditious manner. Because of the foregoing, Purchaser acknowledges that such changes may occur and agrees that it is reasonable, and for the Purchaser's benefit, to allow Seller and Contractor the flexibility to make such changes in the Residence provided that such changes do not materially and adversely affect the size, floor plan, dimensions or market value of the Residence. Without limiting Seller's or Contractor's general right to make the changes referred to above, Purchaser specifically agrees that changes in the location of utility (including, but not limited to electrical, television and telephone) lead-ins and outlets, air-conditioning equipment, ducts and components, lighting fixtures and electric panel boxes may be made.
3. Purchaser further acknowledges that in the course of construction of any building or other improvements, certain changes, deviations or omissions may be desirable to or required by governmental authorities or job conditions. Such changes, deviations or omissions required by job conditions or governmental authorities, arising subsequent to the execution of this Agreement, may require a Change Order to be presented by Seller to Purchaser and executed promptly by Purchaser. Purchaser agrees that all requests for extra work, options or upgrades (singularly referred to as a "Change Order" and collectively as the "Change Orders") must be submitted to Seller and Contractor in writing (signed by Purchaser) and approved by Seller and Contractor, and may be subject to an administrative charge. Contractor shall not be obligated to undertake any change pursuant to an approved Change Order until Purchaser has made payment in full for all items on the Change Order in accordance with the terms set forth in the Change Order. Purchaser understands that the completion date for the Residence may be delayed by any particular Change Order. There will be a minimum administrative charge of $100, or $25 per each item of change, whichever is greater, for each Change Order. This charge and the cost of the Change Order shall be paid when the Change Order is signed by Seller, Contractor and Purchaser. The cost of all Change Orders and any other options or additions to the Plans and Specifications shall be due and payable in full when selected and signed for by Seller, Contractor and Purchaser.
4. Purchaser understands that the Residence is being sold to Purchaser unfurnished, and will not include any items of personal property, appliances, fixtures or optional selections except as specifically provided in the Plans and Specifications or any Addenda hereto. Home interiors, paint, carpet, tile, cabinetry and the like included in the Residence are subject to shading and gradation and may vary from samples, models and/or color charges. Purchaser acknowledges and expects that all exposed wood and tile surfaces are subject to variations in color, unevenness and non-structural changes and cracks, and except as provided for under Contractor's warranty, neither Seller nor Contractor will be responsible for any repair, replacement or damages due to any such causes. If circumstances arise which warrant changes of suppliers, manufacturers, brand names or other items, Contractor may substitute equipment, material, appliances, etc. which are, in Contractor's or Seller's reasonable opinion, of equal or better quality to that designated on the Plans and Specifications. Purchaser acknowledges color options may vary depending on materials and appliances selected. Purchaser will be required to timely select certain colors and/or materials in the Residence. Purchaser understands and agrees that Purchaser must submit Purchaser's selections to Seller and Contractor in writing within fifteen (15) days of the date the list of selections is made available to Purchaser (the "Selection Deadline"). If these selections are not delivered in writing by the Selection Deadline, then it is understood and agreed that delivery of the completed Residence may be delayed on a day by day basis until the date the selections are made.

PAYMENT OF PURCHASE PRICE.

Purchase Price of Residence

Price of Selections or Change Orders, if any,
as set forth in the attached Addendum, if any

TOTAL PURCHASE PRICE:

Portion of Purchase Price paid by
Purchaser upon Closing

Balance of Purchase Price due from Purchaser

Payment due from Purchaser upon issuance of
the Building Permit for Construction of the Residence

$_________________

$_________________

$_________________

($________________)

$_________________

$_________________

Progress payments will be made to Contractor based upon applications for payment ("Application for Payment") submitted to and approved by _________________________ (the "Architect"). The period covered by each Application for Payment is anticipated to be one calendar month ending on the last day of the month, or as otherwise reasonably required by Contractor or Purchaser's construction lender, if any.

Final payment, constituting the entire unpaid balance of the Purchase Price, shall be made by Purchaser to Contractor and Seller within five (5) days after a certificate of occupancy for the Residence has been issued by the applicable governmental authorities, and a final certificate of payment has been issued by Architect.

COMMENCEMENT AND COMPLETION.
1. Within fifteen (15) days after payment of the amounts required under this Agreement, the Closing by Purchaser on the purchase of the Lot, the construction financing, if any, and recording of the notice of commencement, Seller and Contractor will coordinate the issuance of a building permit for construction of the Residence. Contractor shall commence construction of the Residence within fourteen (14) days after issuance of said building permit. Contractor shall attempt to complete construction of the Residence within fourteen (14) months after issuance of the building permit. Neither Seller nor Contractor can guarantee a firm completion date. Seller shall make every reasonable and diligent effort to ensure completion of construction of the Residence on or before said fourteen (14) months, subject to delays as set forth in Section 9 hereof.
2. Upon request of Seller or Contractor, Purchaser shall execute in recordable form a Notice of Commencement and deliver same to Seller for recording in the Public Records.
COMPLETION AND INSPECTION.
1. The parties agree that the Residence shall be deemed completed when the Residence has been given a Certificate of Occupancy by the appropriate governmental authority. Upon such completion, Purchaser agrees to make full payment in immediately available funds of the balance of the Purchase Price within seven (7) days from notice by Seller that said Certificate of Occupancy has been issued. Failure to make such payment within such period shall constitute default by Purchaser hereunder. It is further agreed that until final payment by Purchaser is made in accordance with this Construction Rider, whether under construction or completed, all materials and supplies stored or installed on the Lot, remain the sole property of Seller. Should Purchaser take occupancy of the Residence prior to Seller receiving payment in full hereunder, such occupancy by Purchaser shall constitute a total acceptance and approval of the Work, and as final completion of all obligations of Purchaser under this Contact; and Purchaser shall have then waived all rights hereunder to request additional work or alterations and has completely accepted the then existing condition of all Work and conditions as final and satisfactory. Should Purchaser take occupancy of the Residence prior to final payment to Seller hereunder, full payment of the Purchase Price hereunder shall immediately be due and payable.
2. Purchaser, or Purchaser's agent, shall be entitled to have a walk through inspection following the issuance of a Certificate of Occupancy, with a representative of Seller or Contractor. Following said inspection, Purchaser shall present to Contractor and Seller an inspection statement, signed by Purchaser, listing any defects in workmanship or materials, as well as any uncompleted or improperly constructed items. Contractor shall, giving due regard to construction standards prevalent in Monroe County for similar property, correct and/or complete the items therein described, as soon as reasonably possible. Purchaser and Purchaser's construction lender, if any, agree that no money shall be escrowed for completion of any items on the inspection statement.
3. Purchaser acknowledges that Seller or Contractor has the right to request and receive the Certificate of Occupancy from the appropriate building authority.
PURCHASER'S RESPONSIBILITIES.
1. If Purchaser becomes aware of any fault or defect in the Residence or non conformance with Seller's plans and specifications, Purchaser shall give prompt written notice thereof to Seller.
2. Purchaser shall provide the insurance for the Residence as provided in Section 6 below.
3. Purchaser shall furnish reasonable evidence satisfactory to Seller, prior to Contractor commencing construction of the Residence and at such future times as may be required, that sufficient funds are available and committed for payment of the remaining balance of the Purchase Price. Unless such reasonable evidence is furnished, Seller is not required to have Contractor commence any Work, or may, if such evidence is not presented within a reasonable time, stop work upon fifteen (15) days notice to Purchaser. The failure of Seller to insist upon the providing of this evidence at any one time shall not be a waiver of Purchaser's obligation to make the payments pursuant to this Construction Rider, nor shall it be a waiver of Seller's right to request or insist that such evidence be provided at a later date.
INSURANCE.
1. Contractor shall carry insurance as required by the State of Florida in order to maintain its license as a contractor, Public Liability Insurance, Worker's Compensation Insurance, and such other insurance as Seller may desire. Neither Seller nor Contractor shall be responsible for any uninsured destruction, damage or injury incurred on the Residence, except for uninsured damages or injury caused by Contractor's direct negligence.
2. Purchaser shall purchase and maintain property insurance, liability insurance and builder's risk insurance upon the Residence for full cost of replacement at the time of any loss. This insurance shall be in form acceptable to Seller and shall be on an all risk policy form and shall insure against the perils of fire and extended coverage, windstorm, and physical loss or damage including theft, vandalism and malicious mischief. Purchaser shall also indemnify, defend and hold Seller harmless from any claims made, if applicable, by Purchaser's subcontractors, materialmen, laborers, guests and invitees.
3. Purchaser shall file a copy of all policies with Seller before commencement of the Work shall occur. Copies of any subsequent endorsements will be furnished to Seller. Seller will be given thirty (30) days' notice of cancellation, non renewal, or any endorsement restricting or reducing coverage. If Seller or Contractor incur any expenses, liabilities or claims by failure of Purchaser to purchase or maintain such insurance or to so notify Seller, then Purchaser shall bear all reasonable costs attributable thereto.
4. Any insured loss shall be adjusted with Purchaser and Seller, and made payable to Purchaser and Seller as trustees for the insureds, as their interests may appear, subject to any applicable mortgagee clause. Upon the occurrence of an insured loss, monies received will be deposited in an escrow account and the trustees shall make distribution in accordance with the agreement of the parties in interest or in the absence of such agreement as so determined by the President of the local Home Builder's Association, whose decision shall be final.
5. The Residence to be constructed may be located in an area that may be designated a flood zone by the Federal Government. Even though the Residence will be built at or above a minimum elevation specified by a government agency, the lender or government agency may require that Purchaser purchase flood insurance or provide proof of elevation. This insurance is available through any agency authorized by the Federal Government.
SELLER'S REPRESENTATIONS. Seller warrants and represents to Purchaser that Seller is a duly organized and authorized entity under the laws of the State of Florida, that it is in good standing in accordance with the laws of the State of Florida, and that the person executing this Construction Rider on behalf of Seller is a duly authorized signatory of Seller, has full authorization to enter into this Construction Rider, as well as entering into any subsequent amendments or modifications hereto, and to carry out the obligations of Seller.
DELAY AND PURCHASER'S REMEDIES. Purchaser agrees that should there be any matter in the performance of the construction or approval of the Residence which would prevent or delay completion by Contractor or Seller, including without limitation any of the following: strikes, riots, labor disputes, war, availability of material, governmental ruling or regulations, Acts of God, adverse weather conditions, delay in issuance of valid building permits, compliance with all applicable building, zoning and planning laws, ordinances, regulations or orders, and litigation, or threatened litigation, pertaining to any of the foregoing, or such delays occasioned not by the willful act of Seller or Contractor, or not within the control of Seller or Contractor, the time herein allocated for the completion of construction shall be correspondingly extended. The time period for any completion extension pursuant to the provisions hereinabove shall be as reasonably determined by Contractor.
DEFAULT.
1. In the event Purchaser fails or refuses to timely pay any portion of the Purchase Price as provided herein, such amount shall accrue interest at the rate of fifteen percent (15%) per annum from the date of Purchaser's failure to pay until payment is made, and any monies previously paid by Purchaser may be applied to said interest charge.
2. Should Purchaser be in default of any of the terms of this Construction Rider and such default is not cured within fifteen (15) days after written notice from Seller or Contractor, Seller will have the right to terminate the terms of this Construction Rider and construction of the Residence, whereupon Seller and Contractor shall be entitled to all unpaid expenses and liabilities incurred by Seller and/or Contractor under this Construction Rider in connection with construction of the Residence, together with twenty-five percent (25%) of the unpaid portion of the Purchase Price as liquidated damages, and Seller and/or Contractor may seek such other remedies as permitted by Florida law. To the extent that Purchaser has paid to Seller or Contractor funds pursuant to this Construction Rider, Seller and Contractor shall be entitled to retain the amounts previously paid as a credit towards the Purchase Price.
3. If the Contractor defaults under the terms of this Construction Rider with respect to construction of the Residence, and such default is not cured within a reasonable period of time after written notice from Purchaser to Seller and Contractor, Purchaser as its sole remedy may terminate the terms of this Construction Rider with respect to the construction of the Residence and may finish completion of the Residence in accordance with the terms of the Plans and Specifications by whatever reasonable method Purchaser may deem expedient. If the unpaid balance of the Purchase Price exceeds the costs of finishing and completing the Residence in accordance with the terms of the Plans and Specifications, then upon completion of the Residence, Purchaser may recover from Seller and Contractor the sum of $20,000 as liquidated damages (there being no method available at the date hereof to ascertain damages), as consideration for the execution of this Construction Rider and full settlement of any claims hereunder, whereupon this Agreement will be terminated and Seller, Purchaser and Contractor will be relieved of all obligations under this Agreement. If the costs and expenses necessary to complete construction of the Residence in accordance with the terms of the Plans and Specifications exceed the unpaid balance of the Purchase Price, the Contractor and Seller shall be responsible for payment of the difference to Purchaser as liquidated damages (there being no method available at the date hereof to ascertain damages), as consideration for the execution of this Construction Rider and full settlement of any claims, whereupon this Agreement will be terminated and Seller, Purchaser and Contractor will be relieved of all obligations under this Agreement.
CLEARING LOT.
1. Seller reserves the right to have the Lot cleared as necessary for the commencement of construction of the Residence.
2. Any prohibited vegetation (per government requirements) will be cleared from the Lot. Purchaser acknowledges that due to the construction of the Residence, environmental disturbance may occur, such as increases or decreases of sunlight, which could result in possible damage to the root systems of trees which are not removed for Residence construction. Purchaser acknowledges that some of these remaining trees may not survive because of this environmental disturbance, and neither Seller nor Contractor shall be responsible for their removal or replacement.
INSULATION DISCLOSURES. The parties hereto agree that insulation shall be installed as per the Plans and Specifications. Purchaser accepts this as a lawful insulation disclosure and waives any other disclosures to which Purchaser may otherwise be entitled. Purchaser acknowledges that any R-Value information is based solely upon information supplied by manufacturer and/or installer and Seller and Contractor do not represent or warrant the accuracy of this information. Purchaser also acknowledges that the R-Value may vary depending on local conditions and construction factors, including, without limitation, wall openings, plumbing, or other structures or obstructions within the walls and attic spaces, which may displace the insulation.
PURCHASER'S ENTRY ON JOB SITE. Purchaser understands and acknowledges that Purchaser's entry onto the job site is solely at Purchaser's own risk and Purchaser on behalf of Purchaser, and Purchaser and any of Purchaser's heirs, personal representatives and assignees, hereby waive any and all rights or claims they may have against Seller or Contractor in the event of injury or damage occurring on or about the job site. Purchaser covenants that Purchaser shall not give directions to any of Seller's or Contractor's contractors, laborers, or subcontractors and that all changes to this Construction Rider or construction shall only be accomplished with Seller and by appropriate written Change Order together with full payment.
LIMITED WARRANTY. For a period of one (1) year after the certificate of occupancy for the Residence is issued by the applicable governmental authority, Contractor shall, at its expense, repair or replace any part of the Residence which is materially defective due to Contractor's workmanship or materials. This warranty shall not be deemed to relate to any repair or replacement necessitated by damage to the Property from outside sources including acts of nature or God, or the intentional or unintentional act of Purchaser or its invitees, or to items provided by other manufacturers (which items include, without limitation, air conditioner, kitchen appliances, swimming pool and pool deck surface, screen enclosure, water heater, and any other "consumer products, as defined by the Federal Trade Commission), as to which Contractor is providing no warranty whatsoever to Purchaser; however, Contractor shall without recourse deliver the manufacturers' warranties to Purchaser at Closing. Contractor shall have the sole right to determine whether a defect shall be corrected by repair or replacement. Purchaser agrees and understands that normal settling of the foundation and slab may be expected which may create hairline fractures on the tile surfaces. Therefore, neither Seller nor Contractor will be responsible for the replacement or repair of tiles due to the above cause. In no event shall Seller or Contractor be liable to Purchaser (or to the Association or any other person or entity) for consequential damages or personal injury arising from any breach of this warranty. This warranty shall not apply if the defective portion of the Residence has been subject to misuse, damage by acts of nature or God, or has not been afforded routine maintenance. The maximum liability of Contractor under this limited warranty shall be the replacement cost of the defective portion of the Residence. Purchaser acknowledges that Seller will have no liability with respect to this limited warranty or any other liability in connection with construction of the Residence. Seller and Contractor do not guarantee the survival of any landscaping and are not obligated to replace the loss of any landscaping material. THE ABOVE WARRANTY IS EXPRESSLY ACCEPTED BY PURCHASER IN LIEU OF ANY OTHER WARRANTIES EXCEPT AS EXPRESSLY SET FORTH IN THIS PARAGRAPH. ALL OTHER WARRANTIES, EXPRESS OR IMPLIED, WHETHER ARISING UNDER STATE LAW OR THE MAGNUSSON-MOSS WARRANTY ACT, INCLUDING, BUT NOT LIMITED TO, ALL IMPLIED WARRANTIES OF FITNESS, MERCHANTABILITY, AND HABITABILITY ARE HEREBY DISCLAIMED AND EXCLUDED, SAVE AND EXCEPTING THE ONE YEAR LIMITED WARRANTY SET FORTH ABOVE. IT IS UNDERSTOOD AND AGREED THAT SELLER'S LIABILITY, WHETHER IN CONTRACT, IN TORT, UNDER ANY WARRANTY, IN NEGLIGENCE OR OTHERWISE, IS LIMITED TO THE REMEDY PROVIDED IN THE WARRANTY STATED HEREIN. UNDER NO CIRCUMSTANCES SHALL SELLER OR CONTRACTOR BE LIABLE FOR ANY SPECIAL, INDIRECT OR CONSEQUENTIAL DAMAGES, INCLUDING, WITHOUT LIMITATION, ANY DAMAGES BASED ON A CLAIMED DIMINUTION IN THE VALUE OF THE RESIDENCE, EVEN IF SELLER OR CONTRACTOR HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

REQUIRED NOTICE. Florida Law requires the following Notice:

FLORIDA LAW CONTAINS IMPORTANT REQUIREMENTS YOU MUST FOLLOW BEFORE YOU MAY FILE A LAWSUIT FOR DEFECTIVE CONSTRUCTION AGAINST A CONTRACTOR, SUBCONTRACTOR, SUPPLIER, OR DESIGN PROFESSIONAL FOR AN ALLEGED CONSTRUCTION DEFECT IN YOUR RESIDENCE. SIXTY DAYS BEFORE YOU FILE YOUR LAWSUIT, YOU MUST DELIVER TO THE CONTRACTOR, SUBCONTRACTOR, SUPPLIER OR DESIGN PROFESSIONAL A WRITTEN NOTICE OF ANY CONSTRUCTION CONDITIONS YOU ALLEGE ARE DEFECTIVE AND PROVIDE YOUR CONTRACTOR AND ANY SUBCONTRACTOR, SUPPLIERS OR DESIGN PROFESSIONALS THE OPPORTUNITY TO INSPECT THE ALLEGED CONSTRUCTION DEFECTS AND MAKE AN OFFER TO REPAIR OR PAY FOR THE ALLEGED CONSTRUCTION DEFECTS. YOU ARE NOT OBLIGATED TO ACCEPT ANY OFFER MADE BY THE CONTRACTOR OR THE SUBCONTRACTOR, SUPPLIERS OR DESIGN PROFESSIONALS. THERE ARE STRICT DEADLINES AND PROCEDURES UNDER FLORIDA LAW.

ATTORNEY'S FEES; COSTS. In any litigation, including breach, enforcement or interpretation arising out of this Construction Rider, the prevailing party in such litigation shall be entitled to recover reasonable attorney's fees, costs and expenses through all appellate levels.
ARBITRATION. In the event that any controversy or dispute arises with respect to the construction of the Residence, either party shall have the right to compel that the controversy or dispute be settled by arbitration. In the event that arbitration is compeled under this paragraph, such arbitration shall be in accordance with the Construction Industry Arbitration Rules of the American Arbitration Association. The arbitrators shall consist of three (3) members of the American Arbitration Association, one (1) to be selected by Purchaser, one (1) to be selected by Seller and Contractor, and one (1) to be selected by the arbitrators selected above. The arbitrators must be familiar with residential developments in Palm Beach, Broward, Miami-Dade or Monroe County similar in nature and style to the Community and the Residence. An award shall be entered by the arbitrators within thirty (30) days after the conclusion of the hearing hereunder, and such award shall be complied with within fifteen (15) days after a copy of such award has been delivered to the party directed to comply with such award. The arbitrators' expenses and fees, together with other expenses incurred in the conduct of the arbitration, shall be provided for in the award. It is the specific intent of the parties hereto that any application to a court under the arbitration proceedings be made to a court in Palm Beach County. The provision of this paragraph shall survive Closing.
NOTICE REGARDING ENERGY EFFICIENCY. Seller hereby notifies Purchaser that Purchaser may have the Residence's energy-efficiency rating determined in accordance with the Florida Building Energy-Efficiency Rating Act (the "Energy Act") under Section 553.990, et seq., of the Florida Statutes. In connection with the Energy Act, Purchaser hereby notifies Seller that it [please check one of the following]:

REQUESTS DOES NOT REQUEST an energy-efficiency rating of the Residence (if no box is checked, then Purchaser shall be deemed to have not requested an energy rating). If Purchaser has requested an energy-efficiency rating as provided above, the cost of such energy-efficiency rating shall be paid by Purchaser. Purchaser also acknowledges receipt of: (a) the information brochure prepared by the Florida Department of Community Affairs which is required to be provided to prospective purchasers under Section 553.996(2) of the Florida Statutes and contains information on the Energy Act and the energy rating system; and (b) an energy performance level display card in accordance with Section 553.9085 of the Florida Statutes, which contains the minimum energy saving features that will be installed in the Residence. Seller is providing the disclosures to Purchaser set forth in this paragraph in accordance with Sections 553.9085 and 553.996 of the Florida Statutes and in no event shall Purchaser have the right to terminate this Agreement as a result of any of the information disclosed by the energy-efficiency rating (if requested), the energy performance display card or any other information given to Purchaser under the terms of this paragraph.
CONSTRUCTION INDUSTRIES RECOVERY FUND. In accordance with Florida Law, Section 489.1495, et seq., Seller provides the following Statement of Contractor's Responsibilities:

PAYMENT MAY BE AVAILABLE FROM THE CONSTRUCTION INDUSTRY'S RECOVERY FUND IF YOU LOSE MONEY ON A PROJECT PERFORMED UNDER CONTRACT, WHERE THE LOSS RESULTS FROM SPECIFIED VIOLATIONS OF FLORIDA LAW BY A STATE LICENSED CONTRACTOR. FOR INFORMATION ABOUT THE RECOVERY FUND AND FILING A CLAIM, CONTACT THE FOLLOWING CONSTRUCTION INDUSTRY LICENSING BOARD AT THE FOLLOWING TELEPHONE NUMBER AND ADDRESS:

Department of Business and Professional Regulation
Construction Industry Licensing Board
7960 Arlington Expressway, Suite 300
Jacksonville, Florida 32211-7467
(904) 727-6530 (Telephone)
DISCLAIMER, WAIVER AND RELEASE OF CLAIMS REGARDING MOLD AND MILDEW. Mold occurs naturally in almost all indoor environments. Mold spores may also enter a Residence through open door ways, windows or a variety of other sources. Purchaser acknowledges that the Residence is located in a hot, humid climate ("Florida Environment"), which is conducive to the growth of mold and/or mildew. Mold and/or mildew may be present during or after construction in the indoor air and/or on the interior surfaces of the Residence, including, but not limited to, wall cavities, attics, windows and/or on the exterior surfaces of the Residence or any part thereof. Because of the Florida Environment, Purchaser understands and Seller strongly recommends an inspection of the Residence upon issuance of the certificate of occupancy for the Residence by a qualified, licensed contractor or professional for mold and/or mildew, evidence of water damage and poor or unsatisfactory air quality, which inspection shall include, but not limited to, water leaks, condensation, infiltration and flooding. Seller knows of no defects or deficiencies in the design, installation or materials in the Residence relating to the causation or facilitation of mold and/or mildew. Purchaser understands and acknowledges that neither Seller nor Contractor make any warranty or representation of any kind, express or implied warranty of habitability, merchantability, fitness for a particular purpose, or good workmanship as to building materials and/or construction means and methods with regard to indoor air quality or the presence or absence of mold and/or mildew and any chemical or toxin secreted therefrom, in or in proximity to the Residence or regarding the effectiveness of any architectural or engineering fixture or design for reducing the presence, effect or growth of mold and/or mildew, the responsibility for the prevention of these items being that of Purchaser through proper inspection and maintenance of the Residence. Purchaser, Seller and Contractor hereby specifically agree that neither Seller nor Contractor shall be responsible for the prevention of mold and/or mildew or any damages, including, but not limited to, any special or consequential damages, property damage, personal injury, loss of income, emotional distress, death, loss of use, loss of income, diminution or loss of value of the Residence, economic damages, and adverse health effects relating to, arising from, resulting from or caused by mold and/or mildew accumulation regardless of the cause of said mold and/or mildew. FOR GOOD AND VALUABLE CONSIDERATION, RECEIPT OF WHICH IS HEREBY ACKNOWLEDGED, PURCHASER FULLY, FINALLY, AND FOREVER RELEASES AND DISCHARGES SELLER AND CONTRACTOR FROM AND AGAINST ANY AND ALL CLAIMS, OBLIGATIONS, DEMANDS, DAMAGES, CAUSES OF ACTION, LIABILITIES, LOSSES, AND EXPENSES, WHETHER NOW KNOWN OR HEREAFTER KNOWN, FORESEEN OR UNFORESEEN, THAT PURCHASER HAS, OR MAY HAVE IN THE FUTURE, IN LAW OR IN EQUITY ARISING OUT OF, RELATING TO, OR IN ANY WAY CONNECTED WITH INDOOR AIR QUALITY, MOISTURE, OR THE GROWTH, RELEASE, DISCHARGE, DISPERSAL, OR PRESENCE OF MOLD AND/OR MILDEW OR ANY CHEMICAL OR TOXIN SECRETED THEREFROM. The provisions of this paragraph, which are a material part of this Agreement and shall survive Closing.

WITNESSES:

____________________________________
Print Name __________________________

____________________________________
Print Name __________________________

PURCHASER:

____________________________________

____________________________________

EXECUTED AND APPROVED BY PURCHASER ON _______________, 2004.

WITNESSES:

____________________________________
Print Name __________________________

____________________________________
Print Name __________________________

SELLER: TA PROPERTIES LLC,
a Florida limited liability company

By:____________________________________
Its:___________________________________

EXECUTED AND APPROVED BY SELLER ON ___________________, 2004.

Click here to download printable version of the page (PDF format, 52K)