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CONDOMINIUM RIDER This Rider is made by the (Northeast Florida Association of Realtors)

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CONDOMINIUM RIDER
COPYRIGHTED AND SUGGESTED FOR USE BY THE MEMBERS OF
THE NORTHEAST FLORIDA ASSOCIATION OF REALTORS®, INC
CR Page 1 of 3
11/17
This Rider is made by the undersigned BUYER and SELLER and is incorporated into and made a part of the
Purchase and Sale Agreement between BUYER and SELLER (the “Agreement”). Where this Rider is in conflict
with the terms of the Agreement, the terms contained in this Rider will govern. This Rider is referenced in the
Agreement and pertains to the following Property: Unit ______________ of____________________________
__________________________________________________________________________, a Condominium.
1. APPROV
AL: If the condominium declaration or other condominium documents which govern the Unit g
ive
the
condominium association (the “Association”) the right to approve BUYER and/or the transaction,
BUYER shall make application for such approval within _____________ days (15 days if left blank) from
the date of receipt of the condominium documents described in paragraph 9 hereof. BUYER and SELLER
shall make all reasonable efforts, including any required personal appearances, to obtain Association
approval. If BUYER or the transaction is not approved, this Agreement shall terminate and the binder
deposit(s) less all loan and sale processing and closing costs incurred shall be refunded to BUYER.
2.
APPLIC
ATION/TRANSFER FEES: BUYER agrees to pay all application/ transfer fees at the time
charged
by the Association in
connection with the purchase of the Unit.
3. RECR
EATION OR LAND LEASE: SELLER represents that there is not a recreation or land lease
associated with the Condominium or its facilities except as follows: _____
__________________________
____________________________________________________________________________________.
4. MAINTENANCE FEES/OTHER ASSESSMENTS: SELLER represents that the maintenance fees and any
other fees and assessments levied against the Unit by the Association or in accordance with the
condominium documents are, as of the date of the Agreement, as follows:
(a) maintenance $_______ per _________ payable to ____________________________
(b) special assessment $_______ per _________ payable to ____________________________
(c) capital contribution $___________________ payable to ____________________________
(d) ________________ $_______ per _________ payable to ___________________________
_
SELLER shall pay s
pecial assessments levied by the Association prior to the date of closing unless
otherwise agreed in writing after SELLER’s full written disclosure to BUYER of pending amounts. BUYER
shall pay special assessments levied by the Association on or after the date of closing. Association reserve
accounts shall not be prorated. A special assessment shall be deemed levied for purposes of this
paragraph on the date when the Association’s board of directors or the required percentage of unit owners,
or both, as applicable, has voted in accordance with Florida law and the condominium documents to
approve the special assessments. SELLER has no knowledge of any pending special assessment(s)
except as follows: $________________ imposed for the following purposes: _______________________
____________________________________________________________________________________.
5. LOSS OR DAMAGE TO COMMON ELEMENTS: If the common elements, including limited common
elements (the “common elements”), are damaged by any casualty prior to closing, SELLER shall
immediately notify BUYER in writing. If any portion of the common elements is damaged by extreme
weather, fire, act of God or any other casualty before closing and, if as a result of that damage, the
Property appraises below the Purchase Price (as determined by the BUYER’s lender’s appraiser, or if
none, an appraiser selected by and paid by BUYER) and the parties cannot agree on a new Purchase
Price, either BUYER or SELLER may terminate this Agreement by giving written notice to other party.
6. GARAGE UNIT(S): A garage unit
is or is not included in the Purchase Price. If included, the garage
unit(s) is ____________________.
Clear Form
CONDOMINIUM RIDER continued
CR Page 2 of 3
11/17
7. PARKING/STORAGE: SELLER’S right and interest in or to the use of the below described space(s) and
area(s) are included in the sale of the Unit and shall be deemed to be assigned to BUYER at closing,
subject to Association rules and regulations.
(a) parking space number(s)___________________________________________________________
(b) storage space/locker number(s) _____________________________________________________
(c) other __________________________________________________________________________
8. NON-DEVELOPER RESALE DISCLOSURE (CHECK (1) OR (2):
(1)
THE BUYER HEREBY ACKNOWLEDGES THAT BUYER HAS BEEN PROVIDED A CURRENT
COPY OF THE DECLARATION OF CONDOMINIUM, ARTICLES OF INCORPORATION OF THE
ASSOCIATION, BYLAWS AND RULES OF THE ASSOCIATION, AND A COPY OF THE MOST
RECENT YEAR-END FINANCIAL INFORMATION AND FREQUENTLY ASKED QUESTIONS AND
ANSWERS DOCUMENT MORE THAN 3 DAYS, EXCLUDING SATURDAYS, SUNDAYS AND LEGAL
HOLIDAYS, PRIOR TO EXECUTION OF THIS CONTRACT; OR
(2)
THIS AGREEMENT IS VOIDABLE BY BUYER BY DELIVERING WRITTEN NOTICE OF THE
BUYER’S INTENTION TO CANCEL WITHIN 3 DAYS, EXCLUDING SATURDAYS, SUNDAYS AND
LEGAL HOLIDAYS, AFTER THE DATE OF EXECUTION OF THIS AGREEMENT BY THE BUYER
AND RECEIPT BY BUYER OF A CURRENT COPY OF THE DECLARATION OF CONDOMINIUM,
ARTICLES OF INCORPORATION, BYLAWS AND RULES OF THE ASSOCIATION, AND A COPY OF
THE MOST RECENT YEAR-END FINANCIAL INFORMATION AND FREQUENTLY ASKED
QUESTIONS AND ANSWERS DOCUMENT, IF SO REQUESTED IN WRITING. ANY PURPORTED
WAIVER OF THESE VOIDABILITY RIGHTS SHALL BE OF NO EFFECT. BUYER MAY EXTEND THE
TIME FOR CLOSING FOR A PERIOD OF NOT MORE THAN 3 DAYS, EXCLUDING SATURDAYS,
SUNDAYS, AND LEGAL HOLIDAYS, AFTER THE BUYER RECEIVES THE DECLARATION,
ARTICLES OF INCORPORATION, BYLAWS AND RULES OF THE ASSOCIATION, AND A COPY OF
THE MOST RECENT YEAR-END FINANCIAL INFORMATION AND FREQUENTLY ASKED
QUESTIONS AND ANSWERS DOCUMENT, IF REQUESTED IN WRITING. BUYER’S RIGHT TO
VOID THIS AGREEMENT SHALL TERMINATE AT CLOSING.
9. CON
DOMINIUM DOCUMENTS REQUEST: BUYER requests a current copy of the Declaration
of
Condominium, Articles of Incorporation, Bylaws, Rules of the Association, the Questions and Answers
Document and the most recent year-end Financial Information pursuant to Florida Statute
718.503.
SELLER
shall provide BUYER with a copy of the Declarations page of the condominium master insurance
policy within the Inspection Period. In the event this transaction does not close, BUYER agrees to
immediately return to SELLER the above described documents intact and in the same condition as
received by BUYER, or replacement cost will be deducted from binder deposit. If a Broker provides to or
obtains for a BUYER the documents described above, the Broker shall not be liable for any
error,
inaccuracy or omission. BUYER and SELLER hold harmless Broker with regard to the delivery of and
possible no
n-return of the documents.
10.
RETROFIT
TING: If, pursuant to Florida Statute 718.112, the unit owners voted to forego retrofitting the
unit, common elements or Association property with a fire sprinkler system or other engineered
life-safety
system,
SELLER shall provide BUYER, prior to closing, a copy of the Association’s notice of the vote to
forego retrofitting.
11. MAST
ER HOMEOWNERS’ ASSOCIATION: If the Condominium is located within a
community
governed by a homeowners’ association with mandatory fees or assessments, a Homeowners’
Associatio
n/Community Disclosure Addendum is required.
CONDOMINIUM RIDER continued
CR Page 3 of 3
11/17
12. GOVERNANCE FORM: Pursuant to Chapter 718, Florida Statutes, BUYER is entitled to receive from
SELLER a copy of the Governance Form in the format provided by the Division of Florida Condominiums,
Timeshares and Mobile Homes of the Department of Business and Professional Regulation, summarizing
the governance of the Association.
13. ADDITIONAL TERMS: __________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
___________________________ ____________ ___________________________ ____________
BUYER DATE SELLER DATE
___________________________ ____________ ___________________________ ____________
BUYER DATE SELLER DATE
___________________________ ____________ ___________________________ ____________
BUYER DATE SELLER DATE
___________________________ ____________ ___________________________ ____________
BUYER DATE SELLER DATE
BUYER acknowledges receiving on the date indicated below the condominium documents described in
paragraphs 9 and 12 above.
______________________________________________________________ ______________________
BUYER DATE
______________________________________________________________ ______________________
BUYER DATE
______________________________________________________________ ______________________
BUYER DATE
______________________________________________________________ ______________________
BUYER DATE
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CONDOMINIUM RIDER This Rider is made by the (Northeast Florida Association of Realtors)

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Completed 6 August 2021

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