NOTICE ‘TO BUYER AND SELLER READ THIS NOTICE BEFORE SIGNING THE CONTRACT ‘The Law requires real estate brokers to give you the following information before you sign this contract. It requires us to tell you that you must read all of it before you sign. The purpose is to help you in this purchase or sale. 1) As a real estate broker, I represent: Clthe seller, not the buyer; the buyer, not the seller; Mboth the seller and the buyer; Oncither the seller nor the buyer. The title company does not represent either the seller or the buyer. 2) You will not get any legal advice unless you have your own lawyer. Neither I nor anyone from the title com- pany can give legal advice to either the buyer or the seller. If you do not hire a lawyex, no one will represent you in legal matters now or at the closing. Neither I nor the title company will represent you in those matters, 3) The contract is the most important part of the transaction. It determines your rights, risks, and obligations. Signing the contract is a big step. A lawyer would review the contract, help you to understand it, and to negoti- ate its terms. 4) The contract becomes final and binding unless your lawyer cancels it within the following three business days, If you do not have a lawyer, you cannot change or cancel the contract unless the other party agrees. Nei- ther can the real estate broker nor the title insurance company change the contract. 5) Another important service of a lawyer is to order a survey, title report, or other important reports. The lawyer will review them and help to resolve any questions that may arise about the ownership and condition of the property. These reports and survey can cost you a lot of money. A lawyer will also prepare the documents needed to close title and represent you at the closing. 6) A buyer without a lawyer runs special risks, Only a lawyer can advise a buyer about what to do if problems arise concerning the purchase of this property. The problems may be about the seller's tite, the size and shape of the propery, or other matters that may affect the Value of the property. If either the broker or the we coer pany knows about the problems, they should tell you. But they may not recognize the problem, see it from your point of view, or know what to do. Ordinarily, the broker and the title company have an interest in sceing that the sale is completed, because only then do they usually receive their commissions. So, their interests may differ from yours. 7) Whether you retain a lawyer is up to you. It is your decision. The purpose of this notice is to make sure that you have the information needed to make your decision. ‘DATE BUYER DATE Rs gat Ea ‘SELLER ~ DATE BUYER DATE = DATE Laas ——rn'Ir- ELLER HOYER DATE : [erie Cattle Tsing Broker =—_ LIQ 2 Faust Tp}. Prepared by:Maria Callaghan “Name of Real Estate [icensce New Jersey REALTOI * Form 118-Saatewide | 11/2022 Page 1 of 14‘STATEWIDE NEW JERSEY REALTORS® STANDARD FORM ES (OF REAL ESTATE SALES CONTRACT lnEBRR eS REALTOR ARASZS runs ronwvcay ne use ony nvrite sai OF a ove TO FOUR-FANILY RESIDENTIAL PROPERTY ‘OR VACANT ONE FAMILY LOTS, Tals FORM Is SUITABLE POR USE ONLY WHERE THE SELLER HAS |NEW JERSEY, ‘PREVIOUSLY EXECUTED A WRITTEN LISTING AGREEMENT. REALTORS’ ‘THIS IS A LEGALLY BINDING CONTRACT THAT WILL BECOME FINAL WITHIN THREE BUSINESS DAYS. DURING THIS PERIOD YOU MAY CHOOSE TO CONSULT AN ATTORNEY WHO CAN REVIEW AND CANCEL THE CONTRACT. SEE SECTION ON ATTORNEY REVIEW FOR DETAILS. ‘TABLE OF CONTENTS 3. PARTIES AND PROPERTY 15. CESSPOOL REQUIREMENTS ‘9, DECLARATION OF BROKERS) ‘DESCRIPTION INSPECTION CONTINGENCY CLAUSE ‘BUSINESS RELATIONSHIPS) 2. PURCHASE PRICE MEGAN'S LAW SEATEMEN on BROKERS" INFORMATION 28D 1 Secrneere bIscLOSURE OF SELLING we RE CONDIIONS 5S birevosune raxr aovEnon ‘rice 20, AIRSATETY AND ZONING SELLERS A REAL ESTATE LOENSER PrRFORMANCE INSU Se ATTORNEV.REVIEW CLAUSE s Externe OF OCCUPANCY AND 25. MAINTENANCE AND CONDITION OF Senomess ZONING COMPLIANCE PROPERTY SLNOASSION ST 1W.SMURICIPAL ASSESSMENTS 24 RISKOF Loss Sh ntsermoNte SIGNATURES AND INQuAtry av seman oF 2SUINFTIAL AND FINAL WALK. 1 DOMES one “pcs inaluunt OF BOYEROR SELLER TO Cismueaen BASED PAINT HAZARD 25, CONSUMER INFORMATION ‘S/Abpmona. conrmacroat POINT OF ENTRY TREATMENT SYSTENS ‘SEATEMENT ACKNOWLEDGEMENT. ‘PROVISIONS 1, PARTIES AND PROPERTY DESCRIPTION: Dovid Goldstein (Buyer), Renee Goldstein »("Buyer”), (“Buyer”), ("Bayer"), whose address is/are 216 Mimosa Ct Jackson NJ 08527 "AGREES TO PURCHASE FROM Anne Clark (“Seller”), » (“Seller”), (°Seller”), » (Seller), whoreadiesivre 3000 E5sexr RA Tinton Falls ‘THROUGH THE BROKER(S) NAMED IN THIS CONTRACT AT THE PRIGE AND TERMS STATED BELOW, THE FOLLOWING PROPERTY: Property Address: 9 Bock Blvd. Howell NJ 07731, shown on themunicipaltax map of. CountyMonmouth, as Block 93.05 Lot (the “Property”) Qualifier (if the Property is a condominium), ‘THE WORDS “BUYER® AND “SELLER” INCLUDE ALL BUYERS AND SELLERS LISTED ABOVE. 2. PURCHASE PRICE: ‘TOTAL PURCHASE PRICE .... INITIAL DEPOSIT. ADDITIONAL DEPOSIT MORTGAGE .. BALANCE OF PURCHASE PRICE ..... $300,000" ‘New sey REALTORS* Firm 118Satewie | 1/2000 Tage 20t 14 Bayers a d ps ris [| Y IY b>3 82 53 37 59 60 a QRaree SeggRaeeseszsy geg2gses ges 101) 102] 103] 104 105| 106| 107] 109] 109] nig] 3. MANNER OF PAYMENT: (A) INITIAL DEPOSIT to be paid by Buyer to COLising Broker CPatcipating Broker Buyer's Avorney CVTitle Company Doiter onorbetore (dae) Gf le blank, then within five) busines days afer te fally signed Contract has been delivered to both the Buyer and the Sal {B) ADDITIONAL DEPOSIT to be paid by Buyer to the party who will be responsible for holding the escrow who is identified below ‘on or before (Gate) Gf loft blank, then within ten (10) calendar days after the fully signed Contract has been delivered to both the Buyer and the Sellen (©) ESCROW: Ail initial and additional deposit monies paid by Buyer shall be held in escrow in the NON-INTEREST BEARING TRUST ACCOUNT of. (“Escrowee”), until the Closing, at which time all monies shall be paid over to Seller. The deposit monies shal nat be paid over to Seller prior to the Closing, unless otherwise agreed in writing by both Buyer and Seller. If Buyer and Seller cannot agree on the disbursement of these escrow monies, the Escrowee may place the deposit monies in Court requesting the Court to resolve the dispute. (D) IF PERFORMANCE BY BUYER IS CONTINGENT UPON OBTAINING A MORTGAGE: If payment of the purchase price requires a mortgage loan other than by Seller or other than assumption of Seller's mortgage, Buyer shall apply for the Joan through any lending institution of Buyer's choice in wriking on lender's standard form within cen (10) calendar days after the attorney-review period is completed or, if this Contract is imely disapproved by an attorney as provided in the Attorney-Review Clause Section of this Contract, then within fen (10) calendar days after the parties agree to the terms of this Contract, and use best efforts to obtain it. Buyer shall supply all necessary information and fees required by the proposed lender and shall authorize the lender to communicate with the real estate brokerss) and involved attorney(). Buyer shall obtain a written commitment from the lending institution to make a loan on the property under the following terms: Principal Amount $400,000 __Typeof Morigage: CVA EHA Dsceion203%9 FAComventional Loser ‘Term of Morigage:30 years, with monthly payments based on a year payment schedule ‘The written mortgage commitment must be delivered to Seller's agent, who is the Listing Broker identified in Section 30, and Seller's attorney; if applicable, no later than, (date) Gf Ieft bank, then within thiry (30) calendar days after the attomney-review period is compicted or if this Contract iy Umely Gapproved by an attorney as provided in the Attorney-Review Glause Scetion of this Contract, then within chiny (80) calendar days after the partics agree to the terms of this Contract), Therealtes, if Buyer has not obtained the commitment, then either Buyer or Seller may void this Contract by written xotice to the other party and Brokers) within ten (10) calendar days of the commitment date or any extension of the commitment date, whichever is later If this Contract is voided, the deposic monies paid by Buyer shall be returned to Buyer notwithstanding any other provision in this Contract, provided, however, if Seller alleges in writing to Escrowee within sad ten (10) calendar days of the commitment date or any extension of ‘the commitment date, whichever is later, that th failure to obtain the mortgage commitment isthe result of Buyer’s bad faith, negligence, intentional conduct or failure to diligently pursue the mortgage application, then Escrowee shall not return the deposit monies to Buyer ‘without the written authorization of Seller. If Buyer has applied for Section 203(k) fnancing this Contract is comtingent upon mortgage approval and the Buyer's acceptance of additional required repairs as determined by the lender (©) BALANCE OF PURCHASE PRICE: ‘The balance of the purchase price shall be paid by Buyer in cash, or by certified, cashier's check or trust account cheek. Payment of the balance of the purchase price by Buyer shall be made at the closing, which will ake place on : 09/15/2023 {date) at the office of Buyer's closing agent or such other place as Seller ‘and Buyer may agree (the Closing”) ees 4, SUFFICIENT ASSETS: Buyer represents that Buyer has or will have as of the Closing, all necessary cash assets, together with the mortgage loan proceeds, to complete the Closing, Should Buyer not have sufficient cash assets atthe Closing, Buyer will be in breach of this Contract and Seller shall bbe entitled to any remedies as provided by lav 5. ACCURATE DISCLOSURE OF SELLING PRICE: Buyer and Seller certify that this Contract accurately reflects the gross sale price as indicated in Section 2 of this Contract. Buyer and Seller understand and agree that this information shall be disclosed to the Internal Revere Service and other government agencies 2s required by law 6. ITEMS INCLUDED IN SALE: ‘The Property includes all fixtures permanently attached to the building(9, and all shrubbery, plantings and fencing, gas and electric fixtures, cooking ranges and ovens, hot water heaters, flooring, screens, storm sashes, shades, blinds, awnings, radiator covers, heating New Jersey REALTORS® Form 118-Statewide | 11/2022 Page Sot Buyer's 7 ae I iE Initiates | Y | initiate:m1 2 13 4 13 16 7) ua 19 120 121 122 123 124] 125 126 127 128 129 130 131 132 133 134 135 136 137 133 139 140 Mi 122 143 144 145 146 “47 48 149 150 11 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 apparatus and sump pumps, ff any, except where owned by tenants, are included in tis sale. All of the appliances shall be in working ‘order as of the Closing. Seller does not guarantee the condition of the appliances afier the Deed and affidavit of ttle have been delivered to Buyer at the Closing, The following items are also specifically inciuded (If reference is made to the MLS Sheet and/or any other document, then the documents} referenced should be attached.) as per mis 7. ITEMS EXCLUDED FROM SALE: If reference is made to the MLS Sheet and/or any other document, then the documents) referenced should be attached): as per mals, 8, DATES AND TIMES FOR PERFORMAN( Selfer and Buyer agree that all dates and times included in this Contract are of the essence. This means that Seller and Bayer must stil the terms of this Contract within the time limits that are set in this Contract or will be in default, except as otherwise provided in this Contract or required by applicable law, including but not limited to if the Closing has tobe delayed either because a lender docs not timely provide documents through no fault of Buyer or Seller or for three (3) business days because of the change of terms as required by the (Consumer Financial Protection Bureau, IE Seller requests that any addendum or other document be signed in connection with this Contract, “final execution date.” “acknowl ‘edgement date,” or similar language contained in such document that sets the time period for the completion of any conditions or contin- sgencies, including but not limited to inspections and financing, shall mean that the time will hegin to run after the attorney-review period is completed of if this Contract is timely disapproved by an attorney as provided in the Attorney-Review Clause Section of this Contract, then fiom the date the parties agree to the terms of this Contract. Bayer selects (Closing Agent”) asthe ttle company, attorney or other entity or person to con- duct the Closing. Ifthe Closing Agent isan entity or person other than the Buyer's attorney, Buyer agrees to timely contact the Closing Agent to schedule the Closing after the artorney-review period is completed or, if the Contract is timely disappreved by an attorney as provided in the Attorney-Review Clause Section of this Contract, then after the parties agree to the terme of this Contract, 9. CERTIFICATE OF OCCUPANCY AND ZONING COMPLIANCE: Seller makes no representations concerning existing zoning ordinances, except that Sellers use ofthe Property is not presenti in violation of any zoning ordinances. Some municipalities may require a Certificate of Occupancy or Housing Code Letter to be issued. If any is required for this Property, Seller shall obtain it at Seller's expense and provide to Buyer prior to Closing and shall be responsible to make and pay for any repairs required in order to obtain the Centfcate or Letter. However, if thie expense exceeds §, (if let blank, then 1.5% of the purchase price) to Sell, then Seller may terminate this Contract and refund to Buyer all epost monies plus Buyer's reasonable expenses, if amy in connection with this transaction unless Buyer elects to make repairs in excess of said amount at Buycr’s expense, in which event Seller shall not have the right to terminate this Contract. In adltion, Seller shall comply with all New Jersey laws, and local ordinances, inching but not limited to smoke detectors, carbon monoxide detectors, ie extinguishers and indoor sprinklers, the cost of whic shal be paid by Seller and not be considered as a repair cost. 10. MUNICIPAL ASSESSMENTS: (Seller represeots that Seer Chas CYhas nt ben noted of any such municipal asesaments as explained inthis Scion) ‘Title shall be five and clear of all assessments for municipal improvements, including but not Kimited to municipal liens, as well as asessments and liabilities for future assessments for improvements constructed and completed. All confirmed assessments and all ‘unconfirmed assessments that have heen or may be imposed by the municipality for improvements that have been completed as of the Closing are to be paid in fll by Seller or credited to Buyer at the Closing, A confirmed astessment is lien against the Property. An ‘unconfirmed assessment is a potential len that, when approved by the appropriate governmental entity; will become a legal claim against the Property. 11. QUALITY AND INSURABILITY OF TITLE: At the Closing, Seller shall deliver a duly executed Bargain and Sale Deed with Covenant as to Grantor's Acts or other Deed satisfactory to Buyer. Title to the Property will be fre from all claims or rights of others, except as described in this Section and Section 12 of this Contract. The Deed shall contain the fll legal description of the Property. [New Jersey REALTORS? Form [18-Sratewide | [1/2022 Page sof 14 Buyer's Initial % ACH leim im 173 174 175 176 17 178 179 120 181 182 183] 184 185 186 137| 133] a9 190 191 192 193 194 195| 195| 197 198 19 200] 201 202 203 204| 205| 206| 207| 208} 209] 210 2 212 213| 214 a1s| 216| 217] 218 219 220 22 222| 223] 22a] 225 226 27 228 229 230 ‘This sale will be subject to utility and other easements and restrictions of record, if any, and such state of facts as an accurate survey, might disclose, provided such easement or restriction does not unreasonably limit the use of the Property. Generally, an casement is a right of a person other than the owner of property to use a portion of the property for a special purpose. A restriction ie a recorded limitation on the manner in which a property owner may use the property: Buyer does not have to complete the purchase, however, if amy casement, restriction or facts disclosed by an accurate survey would substantially interfere with the use af the Property for residential purposes. A violation of any restriction shall not be a reason for Buyer refusing to complete the Closing as long as the tile ‘company insures Buyer agains loss at regular rates. The sale also will be made subject to applicable zoning ordinances, provided that ‘the ordinances do not render title unmarketable. ‘Tite wo the Property shall be good, marketable and insurable, at regular rates, by any title insurance company licensed to do business jn New Jersey, subject only to the claims and rights described in this Section and Section 12. Buyer agrees to order a ttle insurance ‘commitment (ttle search) and survey if required by Buyer’ lender, tle company or the municipality where the Property is located, and to furnish copies to Seller If Sellers tite contains any exceptions other than asset forth in this Section, Buyer shall notify Seller and Scller shall have thiry (20) calendar days within which to eliminate those exceptions. Seller represents, to the best of Seller's ‘knowledge, that there are no restrictions in any conveyance or plans of record that will prohibit use and/or occupancy of the Property asa, family residential cwelling. Seller represents that all buildings and other improvements on the Property are within its boundary lines and that no improvements on adjoining properties extend across boundary lines of the Property. If Seller is unable to transfer the quality of title required and Buyor and Seller are unable to agree upon a reduction of the purchase price, Buyer shall hae the option to either void this Contract, in which ease the monies paid by Buyer toward the purchase price shall be returned to Buyer, together with the actual costs of the ttle search and the survey and the mortgage application fees in preparing for the Closing without farther lability to Seller, or to proceed with the Closing without any reduction of the purchase price 12, POSSESSION, OCCUPANCY AND TENANCIES: (A) Possession and Occupancy. Possession and occupancy will be given to Buyer atthe Closing. Buyer shall be entitled to posession of the Property, and any rents or profit from the Property, immediately upon the delivery of the Deed and the Closing Seller shall pay off any person with a claim or right alectng the Property from the proceeds of this sale ator before the Closing (Tenancies. CDAppticable FZ Not Applicable Occupancy will he subject to the tenancies listed below as of the Closing Seller represents that the tenancies ae notin violation of any existing Municipal, County, State or Federal ues, regulations or laws, Seller agres to trance ll security deposits to Buyer atthe Closing and to provide to Brokers and Buyer a copy of al leases concerning the tenancies, if amy, along wit this Contract when itis signed by Seller. Seller represents thar sch lates cam be asgned and hat Seller wll sin sald leases and Buyer agrees to accep ie subject to these leases. ‘TENANT'S NAME, LOCATION RENT SECURITY DEPOSIT TERM Buyer acknowledges that, effective july 22, 2022, certain rental dwelling units built before 1978 are required to be inspected pursuant to , NJSA. 52:27D.437.16, et seq, for lead-based paint. See section 13D below: 15, LEAD-BASED PAINT AND/OR LEAD-BASED PAINT HAZARD: (This section is applicable only to all dwellings bile pri to 1978) applicable CHNot Appicable (A) Document Acknowledgement. Buyer acknowledges receipt of the EPA pamplc ended “Protect Your Family om Lead In Your Home” Moreoves a copy of @ docament ented “Diclosure of Information snd Acknowledgement Lend-Based Taint and Lead-Based Pant Hazards has been fully completed and sgued by Baye Seller and Broker) ands appended to and made apart ofthis Contract (B) Lead Warning Statement. “Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead fiom lead-based paint that may place young children at risk of developing lead poisoning Lead ‘poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregoant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase New Jstey REALTORS® Form 118-Statewide | 11/2022 Page 5 of 14 x i\lfzl Te ede231 232 233 234 235| 236] 237| 238] 239) 240} 2a 242| 243] 244 245| 246) 247] 2a8| 249} 250 251 252 253] 254| 255| 256| 257| 258| 259] 260] 261 262| 263| 265| 265 267| 268| 269] 270} am 2 273| 274 275] 276| 277 278| 279] 280] 281 22| 233] 284] 285 286 287 288 289 290| (©) Inspection. ‘The law requires tha, unless Buyer and Seller agree to a longer or shorter period, Seller must allow Buyer a ten (10) calendar day period within which to complete an inspection and/or risk assessment of the Property as set forth in the next paragraph, Buyes, however, has the sight to waive this requirement inits entirety This Contract is contingent upon an inspection and/or risk assessment (dhe “Inspection”) of the Property by a certified inspector/risk assessor for the presence of lead-based paint and/or lead-based paint hazards. The Inspection shall be ordered and obtained by Buyer at Buyer's expense within ten (10) calendar days after the attorney-review period is completed os if this Contracts timely disapproved by an attorney as provided in the Attorney-Review Clause Section of this Contract, chen within ten (10) calendar days after the parties agree to the termi in this Contract (“Completion Date”) I the Inspection indicates that no lead-based paint or lead-based paint hazard is present atthe Property, this contingency clause shall be deemed nall and void. Ifthe Inspection indicates that lead-bated paint or lead-based paint Inazardis present at the Property, this contingency clause will terminate at the time set forth above unless, within five (5) business days from the Completion Date, Buyer delivers a copy of the inspection anel/or risk assessment report to Seller and Brokers and (1) advises Seller and Brokers, in writing that Buyer is voiding this Contract; or (2) delivers to Seller and Brokers a written amendment the “Amendment” to this Contract listing the specific existing deficiencies and corrections required by Buyer. The Amendment shall provide that Seller agrees to (a) correct the deficicacies; and (b) furnish Buyer witha ceetifcation from a certified inspector/ sk assessor that the deficiencies have been corrected, before the Closing Seller shall hav if left blank, then 3) business days after receipt of the Amendment ‘o sign and return it to Buyer or send a written counter proposal to Buyer. If Seller does not sign and return the Amendment or fails to offer a counter-proposal, this Contract shall be null and void. If Seller offers a countersproposal, Buyer shall have lef. blank, then 3) business days after receipt of the counter-proposal to accept it. If Buyer fails to accept the counter-proposal within the time limit provided, this Contract shall be mull and void. (D) Rental Dwelling Inspections. Effective July 22, 2022, all rental dwelling units built before 1978 required to be inspected pursuant to the New Jersey Lead-Based Paint Inspection Law, NJ'S.A. 52:27D-137.16, et seq., must be inspected for lead-based paint by July 22, 2024, or upon tenant turnover, whichever is earlier (note: there are several exemptions, including but not limited to seasonal rencals that are rented for less than six (6) ‘months each year by tenants that do not have consecutive lease renewals). The law imposes an obligation on municipalities to pesform 6: hire, or allow the property owner/landlord to directly hire, a certified lead evaluation contractor to perform the inspections of single- family, two-family, and multiple rental dwellings that are covered by the la for lead-based paint hazards, at times specified in the lav The \ype of inspection depends on the lead levels in children in the municipality where the rental dvelling units located. Seller is advised to provide Buyer with all Iead-saft certifications concerning the Property and the Guide to Lead-Based Paint in Rental Dwellings issued by the New Jersey Department of Cammunity Affairs prior to closing. Buyer is advised to contact the municipality i which the Property is located to determine the type of inspection, if any, required if the Property currently has a tenant or may have a tenantin the future 14, POINT-OF-ENTRY TREATMENT (“POET SYSTEMS: Cl Applicable TNot Applicable ‘Apoine-o-enzyweatment (‘POET™)satem is a ype of water ueatment system used to remove contaminants fom the water entering a structure fom potable wel, ual through a flaton proces Sle represents that a POET sytem has ben installed to a exis wellon the Proper andthe POET system ws installed and/or maintained using ands recived from te New Jerse Spl Cmmpensaton Fund Claims Program, NJSA.88:10-23.11,etseq, The Buyer understands that Buyer wll note lige to recive any such funds forthe continued maintenance ofthe POET sytem. Pursuant to NJA.G. 7:-2.5(6 Seller agrees to notify the Department of Environment Protection within thirty (30) calendar days of executing this Contract that the Property is to be sold. : 15, CESSPOOL REQUIREMENTS: CAppiable E1Not Applicable (his section is applicable if the Property has a cesspool, except in certain limited circumstances set forth in NJ.A.C. 7:98-5:16) Pursuant to New: sey’ Standart fo lcd Saburface Sevage Disposal Sytems, NAC. 7.9 (he “Standards i this Contracts forthe sale of real property a which any ceaspodL, privy, outhouse Itine or pit tle (clecvely “Cespoo”) is loeated, the Cesspool must be abandoned and replaced wih an individual ubsurfce sewage disposal stem ator before the time of the ral property ran excep inlined crcmstanecs (4) Seer represens to Buyer that 2 no Cesspool is located at or onthe Proper, or CT one or more Cesspons are located at or on the Property [IF there are one or more Cesspools then also check EITHER Box I or 2 below] 1. Ci Sate ages tha, prior to the Closing ad at sole cos: and expense, Seller shal abandon and replace any and all Cespoos located at or on the Property and zeplace sich Cesspool with an individual subsurface sewage disposal sytem (“Stem”) meting al the requirement of the Standards, At or prior to the Closing, Sller shall deliver to Buyer a cerificate of compliance *Certcte of Compliance”) ated by the administrative authorgy Administrative Author" (as those terms are defined in NJA.C. 7298-21) with respect to the System, Notwithstanding the foregoing, if the Administrative Authority determines that fully compliant system cannot ‘New Jersey REALTORS? Form 118-Statenide| 11/2002 Page 6 of Buyer's Seller's I Form [18-Statewide | 11/2022 Page of Ht Za" [nore] (mils aes i201 295| 297 327] 329 330) 331) 332 333] 334] 335| 336| 337] 338] 339] 30] 3A 342 343| 344 345| 3a5| 347] aa 349] 350] be installed at the Property, then Seller shall notify Buyer in writing within three (8) business days of its receipt of the Administrative Authority’s determination of its intent to install either a nonconforming System or a permanent holding tank, as determined by the Administrative Authority (“Alternate System”), and Buyer shall then have the right to void this Contract by notifying Seller in writing ‘within seven (7} business days of receipt of the notice from Seller. If Buyer fails to timely void this Contract, Buyer shall have waived its right to cancel this Contract under this paragraph, and Seller shall install the Akernate System and, at or prior to the Closing, deliver to Buyer such Certificate of Compliance or other evidence of approval of the Alternate System as may be issued by the Administrative Authority. The delivery of said Certificate of Compliance or other evidence of approval shall be a condition precedent to the Closing; or 2, EhBoyeragres that, a is ole cost and expense, Buyer shall take all actions necessary to abandon and replace any and all Cesspools located ator on the Property and replace sich Cesspool with a System meeting al the requirements of the Standards or an Alternate System. Buyer shall indemaify and hold Sclerharmes for any and all cost, damages, claims, fines, penalties and assessments Gneluding brut noe limited to reasonable attorneys’ an expert fees) arising from Buycr' violation ofthis paragraph, ‘This paragraph shall survive the Closing (B) If prior to the Closing, either Buyer or Seller becomes aware of any Cesspool at or on the Property that was not disclosed by Seller ator prior to execution of this Contract, the party with knowledge of the newly identified Cesspool shall prompély, but in no event later than three (8) business days after receipt of such knowledge, advise the other party of the newly identified Cesspool in writing In such ‘event, the parties in good faith shall agree, no later than seven (7) business days after sending or receiving the witten notice of the newly’ identified Cesspool, or the day preceding the scheduled Closing, whichever is sooner, to proceed pursuant to subsection (A) 1 or 2 above or such other agreement as satisfies the Standards, or either party may terminate this Contract. 16, INSPECTION CONTINGENCY CLAUS! (A) Responsibilities of Home Ownership. Buyer and Seller acknowledge and agree that, because the purchase of home is one of the most significant investments a person can. make in a lifetime, all aspects of this transaction require considerable analysis and investigation by Buyer before closing ttle to the Property. While Brokers and salespersons who are involved inthis transaction are trained as licensees uncer the New Jersey Licensing Act they readily acknowledge that they have had no special training or experience with respect to the complexities pertaining to the multitude of structural, topographical and environmental components of this Property: For example, and not by way of limitation, Brokers and salespersons have no special training, knowledge or experience with regard to discovering and/or evaluating physical defects, including] structural defects, roof, basement, mechanical equipment, such as heating, air conditioning, and electrical systems, sewage, plumbing, exterior drainage, ermite, and other types of insect infestation or damage caused by such infestation, Moreaver, Brokers and salespersons similarty have no special training, knowledge or experience with regard to evaluation of possible environmental conditions which might affect the Property pertaining to the dwelling, such as the existence of radon gas, formaldehyde gas, airborne asbestos fibers, toxic chemicals, underground storage tanks, lead, mold or other pollutants in the soil, air or water. (B) Radon Testing, Reports and Mitigation. (Radon is a radioactive gas which results from the natural breakdown of uranium in soil, rock and water. It ‘has been found in homes all over the United States and is a carcinogen. For more information on radon, go to ewnmepa.gou/radon and wwwinj.gov/dep/rpp/radon/or call the NJ Radon Hot Line at 800-648-0394 or 609-984-5425.) [If the Property has been tested for radon prior to the date ofthis Contract, Seller agrees to provide to Buyer, atthe time of the execution of this Contract, 4 copy of the result of the radon test) and evidence of any subsequent radon mitigation or treatment of the Property. Inany event, Buyer shall have the right to conduct a radon inspection/ test as provided and subject to the conditions set forth in paragraph {D) below. If any test results furnished or obtained by Buyer indicate a concentration level of 4 picocuries per liter (4.0 pCi/L) ar more in ‘the subject dwelling, Buyer shall then have the right to void this Contract by notifying Seller in writing within seven (7) business days of the receipt of any such report. For the purposes of this Section 16, Seller and Buyer agree that, in the event a racion gas concentration level in the subject dwelling is determined to be less than 4 picocuries per liter (4.0 pCi/L) without any remediation, such level of radon gas ‘concentration shall be deemed to be an acceptable level “Acceptable Level”) for the purposes of this Contract. Under those circumstances, ‘Seller shall be under no obligation to remediate, and this contingeney clause as it relates to radon shall be deemed fally satisfied. [f Buyer's qualified inspector reports that the radon gas concentration level in the subject dwelling i four picocuries per liter (4.0 pCi/L) ‘or more, Seller shall have a seven (7) business day period after receipt of such report to notify Buyer in writing that Seller agrees to remediate the gas concentration to an Acceptable Level (unless Buyer has voided this Contract as provided in the preceding paragraph Upon such remediation, the contingency in this Contract which relates to radon shall be deemed fully satisfied, If Seller fails to notify Buyer of Seller's agreement to so remediate, such failure to so notify shall be deemed to be a refusal by Seller to remediate the radon level to an Acceptable Level, and Buyer shall then have the right to void this Contract by notifying Seller in writing within seven (7) calendar days thereafter If Buyer fails to void this Contract within the seven (7) business day period, Buyer shall have waived Buyer's right to cancel ‘this Contract and this Contract shall remain in fll force and effect, and Seller shall be under no obligation to remediate the radon gas concentration. If Seller agrees to remediate the radon to an Acceptable Level, such remediation and associated testing shall be completed by Seller prior to the Closing. [Now Jercy REALTORS® Form 116-Statewide | 11/2022 Page 7of 14 ‘Buyer's Seller's Jersey Hl Page (ew, Cae DC,351 352 333 354] 355 356 357| 359] 360 361 362 363 364 365 366 367 368 369 370 371 37 373| 374| 375 376} 377 378 379 30] 381 382 383 384 385 386 387 388 39] 390] 391 392 393 394 395 396 397] 398| 399 400] 401) 402 403 404 407] 409| 0} (O) Infestation and/or Damage By Wood Boring Insects. Buyer shall have the right to have the Property inspected by a licensed exterminating company of Buyer's choice, for the purpose of determining if the Property is free fiom infestation and damage from termites or other wood destraying insects. If Buyer chooses to ‘make this inspection, Buyer shall pay for the inspection unless Buyer’ lender prohibits Buyer from paying, in which case Seller shall pay. The inspection must be completed and written reports must be furnished to Seller and Broker(s) within if left blank, then 14) calendar days after the attorney-review period is completed or, if this Contract is timely disappruved by an altorney as provided in the Attorney-Review Clause Section of this Contract, then within __(f left blank, then 1) calendar days after the parties agree to the terms of this Contract. This report shal state the nature and extent of any infestation and/or damage and the full cst of treament for any infestation. Seller agrees to treat any infestation and eure any damage at Seller's expense prior to Closing, provided howeves, if the cost to cure exceeds 1% of the purchase price of the Property then either party may void this Contract provided they do so within ____(f left blank, then 7) business days after the report has been delivered to Seller and Brokers. If Buyer and Seller are unable {0 agree upon who will pay for the cost to cure and neither party timely voids this Contract, then Buyer will be deemed to have waived its right o terminate this Contract and will bear the cost to cure that is over 1% of the purchase price, with Seller bearing the cost that is under 1% of the purchase price. (D) Buyer's Right to Inspections. Buyer acknowledges thatthe Property is being sold in an “asis" condition and that this Contracts entered into based upon the knowledge of Buyer asto the value of the land and whatever buildings are upon the Property, and not on any representation made by Seller, Brokers or their agents as to character or quality of the Property. Therefore, Buyer, at Buyer's sole cost and expense, is granted the right to have the dwelling and all other aspects of the Property, inspected and evaluated by “qualified inspectors” fas the terma is defined in subsection, G below) for the purpose of determining the existence of any physical defects or environmental conditions such as outlined above. IP Buyer chooses to make inspections referred coin this paragraph, such inspections mast be completed, and writen report including a list of repairs Buyer is requesting must be furnished to Seller and Brokers within__(f leftblank, then 14) calendar days after the attorney- review period is completed of if this Contract is timely disapproved by an attomcy as provided in the Attorney-Review Clause Section of this Contract, then within __f left blank, then 14) calendar days after the parties agree co the terms of this Contract. If Buyer fils to fumish such written reports to Seller and Brokers within the Gf left blank, then 14) calendar days specified in this paragraph, this contingency clause shall be deemed waived by Buyer, and the Property shall be deemed acceptable by Buyer: The time period for farnishing the inspection reports is referred to as the “Inspection Time Period.” Selle shall have all utilities in service for inspections. (&) Responsibility to Cure. AF any physical defects or environmental conditions [other than radon or woodboring insects) are reported by the qualified inspectors to Seller within the Inspection Time Period, Seller shall then have seven (7) business days after the receipt of suck reports to notify Buyer {n writing that Seller shall correct or cure any of the defects sct forth in such reports. IF Seller fails to notify Buyer of Sellers agreement {0 so cure and correct, such failure to so notify shall be deemed to he a refusal by Seller to cure or correct such defects. If Seller fails to agree to cure or correct such defects within the seven (7) business day period, or if the environmental condition at the Property (other than radon) is incurable and is of such significance as to unreasonably endanger the health of Buyer, Buyer shall then have the right to void this Contract by notifying Seller in writing within seven (7) business days thereafter. If Buyer fails to void this Contract within the seven (7) business day period, Buyer shall have waived Buyer's right to cancel this Contract and this Contract shall remain in full force, ‘and Seller shall be under no obligation to correct or cure any ofthe defects set forth in the inspections. If Seller agrees to correct oF cure such defects, all such repair work shall be completed by Seller prior tothe closing of tite, Radon at the Property shall be governed by the provisions of paragraph (B), above. (#) Flood Hazard Area (if applicable). ‘ ‘The federal and state governments have designated certain areas as food areas. If the Property is located in a flood area, the use of the Property may be limited. If Buyer's inquiry reveals that the Property isin a flood atea, Buyer may cancel this Contract within ten (10) calendar days after the attorney-review period is completed or, if this Contract is timely disapproved by an attorney as provided in the Attorney-Review Clause Section of this Contract, then within ten (10) calendar days afer the parties agree to the tertas of this Contract. If the mortgage lender requires flood insurance, then Buyer shall be responsible for obtaining such insurance on the Property. Fora flood policy tobe in effect immediately there must bea loan closing. Theres a thirty (30) calendar day wait for flood policies to bein effet for ‘ash transactions, Therefore, cash buyers are advised to make application and make advance payment for a flood policy at leas thirty (G0) calendar days in advance of closing if they want coverage to be in effect upon transfer of title. Buyer's mortgage lender may require Buyer to purchase flood insurance in connection with Buyer's purchase of this Property: The ‘National Flood Insurance Program (“NFIP") provides for the availabilty of flood insurance but also establishes flood insurance policy ‘premiums based on the risk of flooding in the area where properties are located. Due to amendments to federal law governing the FIP, hose premiums are increasing and, in some cases, will rise by a substantial amount over the premiums previously changed for flood insurance for the Property As a result, Buyer should not rely on the premiums paid for flood insurance on this Property previously as an indication of the premiums that will apply alter Buyer completes the purchase. In considering Buyer's purchase of this Property, Buyer is therefore urged to consult with one or more carriers of flood insurance for a better understanding of flood insurance coverage, New Jey REALTORS® Foren 10-Satewide| 11/2002 Page of Mt Buyer's e : = aida: [7 AC =414) 412| 413| ai4| a15| 416] any] aia 419} 420] aan] 422] 423 424 425] 426| 425] 428] 429) 430] 431] 432 433 434 435] 437] 438 440 441 433] 445 446 4a 449 450] 451] 452] 453 454 455 436 437 458] 439] 460) 461] 462 463) 465| 466 467] 468] 469] 470 [New Jercy REALTORS® Form 118-Sratewide | 11/2022 Page 9 of 14 the premiums that are likely to be required to purchase such insurance and any available information about how those premiums may Jncrease in the furure {G) Qualifications of Inspectors. ‘Where the term “qualified inspectors" is used in this Contract, its intended to refer to persons or businesses that are licensed or certified by the State of New Jersey for such purpose (88) Water Quality. Buyer acknowledges that Seller, the Brokers) and/or its agent) make no representations concerning the quality of the drinking water or any drinking water health advisories issued by federal, tate and/or municipal agencies, including Int not Fmited to concerning ‘manufactured chemicals, suchas per-ancpoly-luoalkyl substances ("PEAS") or otherwise at the Property, excep asst forth by Seller in the Seller Property Disclosure Statement, if applicable. Buyer has the right ands advised to contact the local water uit, te municipality where the Property i located and/or the New Jersey Department of Environmental Protection to learn more about the drinking water st the Property aswell as testing, monitoring and reducing exposure to contaminants. 17, MEGAN'S LAW STATEMENT: Under New Jersey law, the county prosecutor determines whether and how to provide notice of the presence of convicted sex offenders inan area. In their professional capacity, real estate icensces are not entitled to notification by the county proseeator under Megan's Law and are unable to abtain such information for you. Upon closing, the county prosecutor may be contacted for such farther information as may be disclosable to you. 18, MEGAN'S LAW REGISTRY: Buyer is notified that New Jersey law establishes an Internet Registry of Sex Offenders that may be accested at wwwaijep.org. Neither Seller nor any real estate broker or salesperson make any representation as to the aceuracy of the registry. 19, NOTIFICATION REGARDING OFF-SITE CONDITIONS: (Applicable to all resale transactions.) Pursuant to the New Residential Construction OfSite Conditions Disclosure Act, NJS.A. 46:3C-1, et sq, the eletks of municipalities ia Now Jersey maintain lists of offsite conditions which may affect the value of residential properties in the vicinity of the oftsite condition, Buyers may examine the lists and are encouraged to independently investigate the area surrounding this property in order to become familiar with any offsite conditions which may affect the value of the property. In cases where a property is located near the border of a ‘municipality, buyers may wish to also examine the lit maintained by the neighboring municipality. 20. AIR SAFETY AND ZONING NOTICE: Any persoa who sells or transfers a property thats in an airport safety zone as set forth in the New Jersey Air Safery and Zoning Act of 1983, NJS.A. 6:1-80, etseq,, and appearing on a municipal map used for tax Purposes, as well as Sellers agent, shall provide notice to 1 prospective buyer that the property is located in an airport safety zone prior to the signing of the contract of sale. The Air Safety and Zoning Act also requires that each munieipality in an airport safery zone enact an ordinance or ordinances incorporating the standards ppromnlgatee! under the Act ancl providing for their enforcement within the delineated areas in the municipality: Buyer acknowledges receipt of the folowing lst of airports and the municipalities that may be affected by them and that Buyer bas the responsibility to ‘contact the municipal clerk of any affected municipality concerning any ordinance that may allect the Property. Mani Airport(s) Municipaicy Airport(s) ‘Aexandsia Tp. Alesandsia & Sky Manor Hopewell Tp. (Mercer Cty) “Trenton Mercer County Andover Tp, ‘AcroflesAndove & Nevstor Howell Tp. Monmosth Executive 2 Bedminter Tp, Somerset Lacey Te (Ocean County Berkeley Tp. (Ocean County Lakewood Tp Takewood Besin Bor andes Conny incon Pak Bor, neon Park Blartowa Tp. Bisson Tower Tp Cape May County Branchtang Tp. Somerset Tamberon Tp. Flying W & South Jerry Regional Buena Bor (Adante Vineland-Downtoue, Manalapan Tp. (Monmouth Cty) Old Beige Desnis Tp. Woodbine Municipal Mansfeld Tp. Hackestown Bagleswood Tp. Eagles Nest Mamvie Bor (Genta Jersey Reglonal Bring Tp. ‘TrenwnsMercer County ‘Medford Tp. jing W E Hanover Tp Morsitown Municipal Mile Tp. Cape May Couney Florham: Pa Bor ‘Morristown Municipal ‘Mave Millvle Municipal Franklin Tp. Glosveser Cay) Southern Grose & Vineland Downtown Montoe Tp. (Gloucester Cy (Gross Keys & Southern Coast, Franklin Tp. (Hunterdon Cy) Sky Manor Monroe'Tp, (Middlesex Gry) 1d Bridge Franklin Tp. Somerset Cy) Cental Jey Regional ‘Monigomery Tp Princeton Hammonton Bor Hammonton Municipal cean Cty Ocean Gry Hanover Tp, Morritown Monin (ota Bridge Tp. ld Bridge Hsbocough Tp (Ceotral Jersey Regional tdenane Tp Oldmansan an 473 474 475 476 ani 478 479) 480] 431] 482 483 486 487] 483 489) 491] 492 494 495] 497] 500} 501 502| 503| 505| 506| 507] 508] 509] 510] sn] sg] 513 sid 515 516 317] 513i 519] 520] 521] 529] 523 524| 525| 526| 527] 528 529] 530] Manicipaticy Airporse) Manicipalicy Aieports) Pemberton Tp. Renberon Vineland Gir Kroclingr& Vint Dorion Requaneack Tp. Tne Pak wa Tp. Monmouth Execs Readingzon Tp, Solberg miedon Wantage Tp Susee Rocky Hil Bor. Princeton Robbinle Tene Robbinnile Southampion Tp. Redon Wes Mitford Tp. Greeswood Lake Spring Tp Red Wing Winslow Tp Camden Cony Upper Dela Tp. Backs Woodbine Bor Woodbine Manic ‘The folowing airports are not subject to the Airport Safety and Zoning Act because they are subject to federal regulation or within the Jurisdiction of the Port of Authority of New York and New Jersey and therefore are not regulated by New Jersey: Essex County Airport, Linden Aisport, Newark Liberty Airport, Teterboro Airport, Litle Ferry Seaplane Base, Atlantic City International Airport, and ‘Maguire Airforce Base and NAEC Lakehurst 21, BULK SALES: ‘The New Jersey Bulk Sales Law, NJ[S.A. 54:50-38, (che “Law”) applic tothe sale of certain residential property. Under the Lavy Buyer may be liable for taxes owed by Seller if the Law applies and Buyer does not deliver to the Director of the New Jersey Division of Taxation (the "Division”) a copy of this Contract and a notice on a farm required by the Division (¢he “Tax Form”) a least ten (10) business days prior to the Closing. If Buyer decides to deliver the Tax Form to the Division, Seller shall cooperate with Buyer by promptly providing Buyer with any information that Buyer needs to complete and deliver the Tax Form in a timely manner. Buyer promptly shall deliver to Seller a copy of any notice that Buyer receives from the Division in response co the Tax Form, ‘The Law does not apply tothe sale of a simple dwelling house, or the sale or lease of a seasonal rental property if Seller is an individual, estate or rust, or any combination thereof, owning the simple dwelling house or seasonal rental property 28 joint tenants, tenants in common or tenancy by the entirety. A simple dwelling house isa one or two family residential building, or a cooperative or condominium unit used as a residential dwelling, none of which has any commercial property. A seasonal rental property is atime shate, or a dwelling unit that is tented for residential purposes for aterm of not more than 125 consecutive days, by an owner that has a permanent residence elsewhere, 1 prior to the Closing, the Division notifies Buyer to withhold an amount (he “Tax Amount”) from the purchase price proceeds for possible unpaid tax liabilities of Seller, Buyer’s attorney or Buyer's tite insurance company the “Escrow Agent”) shall withhold the Tax ‘Amount from the closing proceeds and place that amount in escrow (¢he “Tax Escrow”). Ifthe ‘Tax Amount exceeds the amount of available closing proceeds, Seller shall bring the deficiency to the Closing and the deficiency shall be added to the Tax Eserow: If the Division directs the Escrow Agent ar Buyer to remit funds from the Tax Escrow to the Division or some other entity the Escrow Agent ‘or Buyer shall do so. The Escrow Agent or Buyer shall only release the Tax Escrow; or the remaining balance thereof, to Seller (or as otherwise directed by the Division) upon receipt of written notice from the Division that it can be released, and that no Habit will be aserted under the Law against Buyer, 22, NOTICE TO BUYER CONCERNING INSURANCE: Buyer should obiain appropriate casualty and liability insurance for the Property: Buyer's mortgage lender will require that such insurance be in place at Closing Occasionally, there are issues and delays in obtaining insurance. Be advised that a “binder” is only a temporary commitment to provide insurance coverage and is not an insurance policy. Buyer is therefore urged to contact a licensed insurance agent or broker to assist Buyer in satisfying Buyer’ insurance requirements : 23, MAINTENANCE AND CONDITION OF PROPERTY: Seller agrees to maintain the grounds, buildings and improvements, in good condition, subject to ordinary wear and tear. The premises shall be in “broom clean” condition and fire of debris as of the Closing. Seller represents that all elcetrcal, plumbing, heating and air conditioning systems (if applicable), together with all xtures included within the terms of the Contract now work and shall be in proper ‘working order at the Closing. Seller further states, that to the best of Selle’s inowledge, there are currently no leals or seepage in the roof, walls or basement. Seller does not guarantee the continuing concition of the premises asset forth in tis Section after the Closing. 24, RISK OF LOSS: ‘The risk of loss or damage tothe Property by fre or otherwise, except ordinary wear and teas i the responsibility of Seller uni the Glosing, 25, INITIAL AND FINAL WALK-THROUGHS: In addition to the inspections set forth elsewhere in this Contract, Seller agrees to permit Buyer or Buyer's daly authorized representative to conduct an initial and a final walk-through inspection of the interior and exterior of the Property at any reasonable time before the Closing, Seller shall have all uilities in service for the inspections. New Jersey REALTORS® Form 1 18-Statewide | 11/2022 1Oof 14 Beper's aa, Bs ! ne reicats [2% |e | isnt: [AC551 552 553 554] 555] 556] 557| 558 559] an 572| 573| 574] 575| 576 377] 578| 579] 581 53] 585| 536| 597| 58] 590] 26. ADJUSTMENTS AT CLOSING: Seller shall pay for the preparation of the Deed, realty transfer fee, lien discharge fes, if any, and one-balf of the ttle company charges for disbursements and attendance allowed by the Commissioner of Insurance; but all searches, te insurance premium and other conveyancing expenses are to be paid for by Buyer. Seller and Buyer shall make prorated adjustments at Closing for items which have been paid by Seller or are due from Seller, such as real estate taxes, water and sewer changes that could be claims against the Property, rental and secuity deposits, association and condominium, dducs, and fuel in Selle’ tank. Adjustments of fuel shall be based upon physical inventory and pricing by Seller's supplier. Such determi= nation shall be conclusive If Buyer is assuming Seller's mortgage loan, Buyer shall ereit Seller forall monies, such as real estate taxes and insurance premiums paid in advance or on deposit with Seller’s mortgage lender. Buyer shall receive a credit for monies, which Seller owes to Seller's Mortgage Tender, such as current interest or a deficit in the mortgage escrow account. Ifthe Property is used or enjoyed by not more than four families and the purchase price exceeds $1,000,000, then pursuant o NJSA. 2, Buyer will be solely responsible for payment of the fee due for the transfer of the Property, which isthe so-called “Mansion ; inthe amount of one (1%) percent of the purchase price. Ta Unless an exemption applies, non-resident individuals, estates, or trusts that sell or transfer real property in New Jersey are required to make an estimated gross income tax payment to the State of New Jerscy on the gain from a transfer/sale of real property (the so-called, “Exit Tax,”) asa condition of the recording of the deed. 1 Sellers a foreign person (an individual, corporation or entity that is a non-US resident) under the Foreign Investment in Real Property Tax Act of 1980, as amended (“FIRPTA’), then with a few exceptions, a portion of the proceeds of sale may need to be ‘withheld from Seller and paid to the Internal Revenue Service as an advance payment against Sellers tax Kability: Seller agrees tha, if applicable, Seller wil) be solely responsible for payment of any state or federal income tax withholding amounc()) requited by law to be paid by Seller (which Buyer may deduct from the purchase price and pay at the Closing); and (b) execute and deliver to Buyer at che Closing any and all forms, affidavits or certifications required understate and federal law to be filed in connection with the amount() withheld. There shall be no adjustment on any Homestead Rebate duc or to become duc. 27. FAILURE OF BUYER OR SELLER TO CLOSE: If Seller fails to close tile to the Property in accordance with this Contract, Buyer then may commence any legal or equitable action to which Buyer may be entitled. If Buyer fails to close tite in accordance with this Contract, Seller then may commence an action for damagesit has suffered, and, in such case, the deposit monies paid on account of the purchase price shall be applied against such damages. If Buyer or Seller breach this Contract, the breaching party will nevertheless be liable to Brokers for the commissions in the amount set forth in this Contract, as well as reasonable attorneys’ fees, costs and such other damages as are determined by the Court If either Seller or Buyer commence such an action, in addition to any other remedy; the prevailing party will be entitled to reasonable attorney fees, costs andl such other relief as is determined by the Court, 28. CONSUMER INFORMATION STATEMENT ACKNOWLEDGMENT: By signing belovs Seller and Buyer acknowledge they reecived the Consumer Information Statement on New Jersey Real Estate [Relationships from the Broker() prior to the first showing of the Property 29, DECLARATION OF BROKER(S)’S BUSINESS RELATIONSHIP(S): (A)Red Door Realty ; {name of firm) and its authorized representative(s) Maria Callaghan SEE AT ARE OPERATING IN THIS TRANSACTION AS A (indicate one of the following) OseLter’s AGENT OBUYER’S AGENT © DISCLOSED DUAL AGENT TRANSACTION BROKER. (B) (f more than one firm is participating, provide the following.) INFORMATION SUPPLIED BY. (name of other firm.) HAS INDICATED THATIT IS OPERATING IN THIS TRANSACTION AS A (indicate one of the following) CseLLER’s AGENT O] BUYER'S AGENT CITRANSACTION BROKER. 30. BROKERS? INFORMATION AND COMMISSION: ‘The commission, in accord with the previously executed sting agreement, shall be due and payable at the Clesing and payment by Buyer of the parchase consideration for the Property: Seller hereby authorizes and instructs whomever is the disbursing agent to pay the fall ‘New Jeriey REALTORS? Form 118Satewide | 11/2022 Page of Buyer's Seller's # ad wee[ ge |g | me fecl |sor 592 593 610] oul 612| 613| 614| 15| 616] 617 ar3| a19| 621 622 623 24 631 645 646 647 650| ‘commission 2s set forth below to the below-mentioned Brokerage Firms) out of the proceeds of sale prior to the payment of any such funds to Seller. Buyer consents tothe disbursing agent making said disbursements. The commission shall be paid upon the purchase price set forth in Section 2 and shall include any amounts allocated to, among other things, furnieure and fixtures, Red Door Realty Gro 1967650 ‘Listing Fir re Group REC License 1 ‘Maria Callaghan _1758037 Tasting Agent RECTOR 34N. Main Street ress 1732.970-8733 -732.970-8734 ox7asois14 Oiice Teephone Tax gent Cal PROBE : etn Apemen reddoorrealtyni@gmail.com Femail “Commission due Listing Fira Participating Firm RECTSRET Parscipatng Agent RECT Rares Ole TaeponE Tax igen Cal Phone $e ri on Pap 31. EQUITABLE LIEN: ‘Under Nev Jersey lav; brokers who bring the parties together in areal estate transaction are entitled to an equitable lien in the amount of their comission. This lien attaches to the property being sold from when the contract of sale ie signed until the closing and then to ‘the funds due to seller at closing, and i not contingent upon the notice provided in this Section. As a result of this lien, the party who disburses the Funds at che Closing in this transaction should not release any portion of the commission to any party other than Broker() and, if there isa dispute with regard to the commission to be paid, should hold the disputed amount in escrow until che dispute with Broker( is resolved and written authorization to release ce funds is provided by Brokers). 32, DISCLOSURE THAT BUYER OR SELLER IS A REAL ESTATE LICENSEE: ClApplicable — RANot Applicable ‘A real estate licensee in New Jersey who has an interest asa buyer or seller of real property is required to disclose inthe sales contract that the person isa licensee, therefore discloses that he/she is licensed in New Jersey as areal esate CIbroker CIbiokaraalapenon Unlapenon Creal agen 33, BROKERS TO RECEIVE CLOSING DISCLOSURE AND OTHER DOCUMENTS: Buyer and Seller agree that Brokers) involved in chis transaction will be provided with the Closing Disclosure documents and any amendments to those documents in the same time and manner as the Consumer Financial Protection Bureau requites that those documents be provided to Buyer and Selle. In addition, Buyer and Seller agree that, f one or both of them hite an attorney who disapproves this Contract as provided in the Attorney-Review Clause Section, then the attorney) wil notify the Broker() in writing when cither this Contracts finalized or the parties decide not to proceed with the transaction. 34, PROFESSIONAL REFERRALS: Seller and Buyer may request the names of attorneys, inspectors, engincers, tradespeople or other professionals from their Brokers involved in the transaction. Any names provided by Brokers) shall not be deemed to be a recommendation or testimony of competency of the person or persons referred. Seller and Buyer shall assume fall responsibilty for their selection(s} and hold Brokers and/or salespersons ‘harmless for any claim or actions resulting from the work or duties performed by these professionals. ‘New Jeey REALTORS® Form 118 Staten 022 Page of 14 Buyer's Jersey 'S* Form 118-Statewide | 11/2022 Page 12 of in: Cz a ia E651| 35. ATTORNEY-REVIEW CLAUSE: 652| (1) Study by Attorney: 653] Buyer or Seller may choose co have an attorney study this Contract. If an attorney is consulted, the attorney must complete his or her 654] review of the Contract within a three-day period. ‘This Contract will be legally binding at the end of this theee-day period unless an 655] attorney for Buyer or Seller reviews and disapproves of the Contract. 656 657| (2) Counting the Time. 658] You count the three days from the date of delivery of the signed Contract to Buyer and Seller. You do not count Saturdays, Sundays or 659] legal holidays. Buyer anci Seller may agree in writing to extend the three-day period for attorney review: 661] (3) Notice of Disapproval. 662] If an atiomey for the Buyer or Seller reviews and disapproves of this Contract, the attorney must notify the Brokers) and the other party 663] named in this Contract within the three-day period. Otherwise this Contract wil he legally binding as written. The attorncy must send. (664) the notice of disapproval to the Broker() by fax, email, personal delivery, or overnight mail with proof of delivery: Notice by overnight 665] mail will be effective upon mailing. The personal delivery will be effective upon delivery to the Broker's office. The attorney may also, but need not, inform the Brokers) of any suggested revision(s) in the Contract that would make i satisfactory. All notices shall be by certified mail, fax, e-mail, recognized overnight courier or electronic document (except for notices under the Attorney-Review Clause Section) or by delivering it personally: The certified leer, e-mail, reputable overnight carries, fax or electronic document wil be effective upon sending. Notices to Seller and Buyer shall be addressed to the addresses in Section 1, unless otherwise 672| specified in writing by the respective party 666 667| 668] 36. NOTICES: 669| 670] 67 674| 37. NO ASSIGNMENT: 675] _ This Contract shall not be assigned without the written consent of Seller ‘This means that Buyer may not transfer to anyone else Buyer's 676] _ rights under this Contract to purchase the Property. 38, ELECTRONIC SIGNATURES AND DOCUMENTS: Buyer and Seller agree that the New Jersey Uniform Electronic Transaction Act, NJS.A. 12A:12 2-1 t0 26, applies to this transaction, including bat not imted to the pares and their representatives having the right ose electronic signatures and electronic documents that are created, generated, sent, communicated, reesived or sored in connection with this transaction, Since Setion 11 of the Act provides that acknowledsing an clestonic signature not necesary for the signature of such a person where all ther information required to be inctaded i attached to or lgially associated withthe signature or record, such electronic atures, inching but not limited to an lectronic signature of one of the panies to this Contac, do ot have tobe witnessed on] 67a| 679| 630] 681 632| 633] 634 635] 686] 39. CORPORATE RESOLUTIONS: 687| If Buyer or Seller isa corporate or other entity, the person signing below on behalf of the entity represents that all required corporate 688] resolutions have been duly approved and the percon has the authority to sign on behalf of the entity. 639] 690] 691 692| 693} 694] 695| 696 697| 698| 699] 700] 40. ENTIRE AGREEMENT; PARTIES LIABLE: ‘This Contract contains the entire agreement of the parties. No representations have been made by any of the parties, the Broker() or its salespersons, except as se forth in this Contract. This Contracts binding upon all partes who sign it and all who succeed to their rights and responsibilities and only may be amended by an agreement in writing signed by Buyer and Seller, . 41. APPLICABLE LAWS: ‘This Contract shall be governed by and construed in accordance with the laws of the State of New Jersey and any laweuit relating to this Contract or the underlying transaction shall be venued in the State of New Jersey 42, ADDENDA: ‘The following ational terms are included in the attached addenda or riders and incorporated into this Contract (check if applicable) 701| O) Buyer's Property Sale Contingency 1 Private Well Testing 2 El Cansatsranes/rsoasontiere Asctalons Di Properties With Three (3) or More Units 703) Coronavirus B Seller Concession moa} OF A Loans Short Sale fis] Sleve ed Pe Dlr 98 Distr ae 706] New Construction DD Swimming Pools 707| © Private Sewage Disposal (Other than Cesspool) 1D Underground Fuel Tank} 708 709 710 ‘New Jersey REALTORS® Form 118-Statewide | 11/2022 Page 13 of 14 Buyer's bein a ! Pee tite |Z | @ | tine [ZC] 2m1 712 73 14 15 76 nT ns 79 720 m m2 73 m4 m3 726 nm 728 m9 730 731 732 733 734 735 736 BT 739 740 ma 72 13 m4 745 746 aT 748 749 750 71 752 753 754 755 736 aI 758 759 760 761 762 763 764 165 766 767 768 769 70 43. ADDITIONAL CONTRACTUAL PROVISIONS Home is being sold "as is’, home inspection for structural and safety issues only. No mortgage contingency WITNESS: wz aeiee, BOYER Dare OVER Date OVER Dae OVER Dae Baad 13 SEILER Daw SELLER Daz SELLER Dae Date ‘New Jrsey REALTORS® Form 118-Statewide | 11/2022 Page 14 of It ACI