HomeMy WebLinkAboutRes HA-70 APN 624-431-1001 Falcon Crest 42050 Golden Eagle LaneCITY OF PALM DESERT /PALM DESERT HOUSING AUTHORITY
JOINT CONSIDERATION
STAFF REPORT
REQUEST: REQUEST FOR APPROVAL OF THE PROPOSED SALE OF THE
PROPERTY LOCATED AT 42050 GOLDEN EAGLE LANE (624-431-
001), PALM DESERT (PURSUANT TO HEALTH AND SAFETY
CODE SECTION 33433(c)).
SUBMITTED BY: Janet Moore, Director of Housing
DATE: January 8, 2015
CONTENTS: Housing Authority Resolution No. HA- 70
Notice of Public Hearing dated December 18, 2014
Draft Purchase and Sale Agreement
Recommendation
That the Authority Board,
1. Conduct a public hearing and accept testimony on the proposed sale of the
property located at 42050 Golden Eagle Lane (624-431-001) to a qualified
household of low or moderate income; and
2. Following public testimony, close the public hearing, and request that the
Authority Board waive further reading and adopt Resolution No. HA -
approving the sale of the property pursuant to the attached draft Purchase and
Sale Agreement for up to $225,000 depending on the terms of the negotiated
sale.
By Minute Motion, that the City Council and Authority Board,
3. Approve silent homebuyer assistance loan in an amount that does not exceed
40% of the sales price for the homebuyer to ensure an affordable housing cost
for a qualified low or moderate income household from any available funding
source restricted for such purpose (BEGIN, Housing Mitigation, Agency/Housing
Authority program income); and
4. Authorize the payment of the transaction costs from the sale proceeds for the
purpose of repairs required for closing, fees customary to real estate transactions
in Riverside County including escrow, title, FHA fees, inspections, vermin
eradication, commissions and disclosures; and
5. Authorize the use of the Falcon Crest sales program and documents including
the restrictive covenant and loan documents for the applicable funding source, in
their substantial form; and
6. Authorize the Mayor, Authority's Chairman and/or Authority's Executive Director
or his designee to finalize and execute the Purchase and Sale Agreement and
any ancillary documents necessary to effectuate the sale and actions taken
herewith.
Resolution No. HA-07
Staff Report
Public Hearing (624-431-001)
January 8, 2015
Page 2 of 3
Background
The Housing Authority is proposing to sell a home in Falcon Crest which is located at 42050
Golden Eagle Lane, (the "Property") in the Authority's inventory to a qualified low or
moderate income household.
Health and Safety Code Section 33433(c) provides that the requirements of subdivisions (a)
and (b) will not apply to the sale of a small housing project if the City Council adopts a
resolution that authorizes the sale of small housing projects pursuant to Section 33433(c).
Pursuant to its Resolution No. 03-34, adopted on April 10, 2003, the City Council authorized
the Agency to sell small housing projects pursuant to Section 33433(c). On March 14, 2013,
the City Council adopted Resolution No. 2013-11 authorizing the Authority to sell small
housing projects pursuant to Health and Safety Code Section 33433(c) as the successor to
the former Agency's housing functions and assets.
The property meets the definition of a small housing project in that the Housing Authority
will only sell the property to a qualified household (including persons or families) of low or
moderate incomes.
Section 33433(c) requires that a public hearing be held on the proposed sale pursuant to
Health and Safety Code Section 33431. Pursuant to Section 33431, notice of a public
hearing on the proposed sale of the properties was published once a week for two
successive weeks in the Desert Sun.
When a qualified buyer is identified for the home, the draft Purchase and Sale Agreement
("Agreement") will be modified based on the terms of the sale agreed upon. In addition, and
in order to ensure an affordable housing cost, the Housing Authority and City will need to
provide deferred down -payment assistance loan. The loan terms will be consistent with the
City's BEGIN Loan Program and the Falcon Crest Sales Program. The actual amount and
funding source of the Housing Authority and/or City assistance loan will vary for each
transaction and will depend on the qualifying income and buyer criteria. The combined
loans will not exceed 40% of the sales price per household ($90,000 for homes with sales
prices of $225,000).
Staff recommends that (i) the Housing Authority Board, hold a public hearing on the
proposed sale of the property and approve the sale of the property to a qualified household
pursuant to the terms of the Purchase and Sale Agreement presented to the Housing
Authority at this meeting and (ii) that both the City Council and Authority Board approve
silent homebuyer assistance loan for each home not to exceed 40% of the sales price per
household to ensure an affordable housing cost from any available funding source restricted
for such purpose.
G 1HOUSINGWatty LeonUMMlstaff reportlHA City 33433(c) Public Hearing FC Lots 21 Mtg of 1-8-15 doc
Resolution No. HA-70
Staff Report
Public Hearing (624-431-001)
January 8, 2015
Page 3 of 3
Fiscal Analysis
The fiscal impact will be the cost differential from the former Agency's cost of each of the
properties to the newly negotiated sales price, the costs of the transaction, and the amount
of the assistance loans from the various sources. Each sale will reduce the monthly costs
associated with maintaining the inventory.
Submitted by:
anet . Moore, Director of Housing
Finance De
Paul Gibson, pirector of Finance
JOn(M. Wohlmuth, City Manager/Executive Director
G:IHOUSING%P^ LeonQM"aff repornHA-City 33433(c) Public Heanng FC Lots 21 Mtg of 1-8-15.doc
RESOLUTION NO. HA - 70
A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY
APPROVING RESIDENTIAL PURCHASE AND SALE AGREEMENT
PURSUANT TO HEALTH AND SAFETY CODE SECTION 33433(c)
THE PALM DESERT HOUSING AUTHORITY HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. On April 13, 2006 the City of Palm Desert ("City") and the former Palm
Desert Redevelopment Agency ("Agency") approved the Falcon Crest Sales Program and
jointly held a public hearing on November 6, 2006, approving the initial sale of the 93
single-family homes located in the Falcon Crest Development ("Falcon Crest") in the City of
Palm Desert to qualifying households of low or moderate income pursuant to Resolution
No. 535 and 06-145.
Section 2. Pursuant to Health and Safety Code Section 34175(b), on February 1,
2012, all assets, properties, contracts, leases, books and records, buildings, and
equipment of the Agency transferred to the control of the Successor Agency to the Palm
Desert Redevelopment Agency (the "Successor Agency") by operation of law including
housing assets.
Section 3. Pursuant to Health and Safety Code Section 34176(b), on February 9,
2012, the City adopted Resolution No. 2012-07 designating the Palm Desert Housing
Authority (the "Housing Authority") as the successor housing entity for all housing activities
formerly completed by both the Agency and the Housing Authority.
Section 4. On October 11, 2012, the Housing Authority Board accepted the housing
functions and assets transferred pursuant to Resolution No. HA-47.
Section 5. The Housing Authority owns a single-family residential property located at
42050 Golden Eagle Lane in the City of Palm Desert, California (the "Property"). The
Housing Authority proposes to sell the Property to a qualifying household of low or
moderate income pursuant to the draft purchase and sale agreement (the "Agreement")
and the Falcon Crest Sales Program, presented to the Housing Authority at this meeting
and now on file in the offices of the Housing Authority Secretary and City Clerk of the City
of Palm Desert.
Section 6. Resolution No. 03-34 of the City Council authorized the Agency to sell or
lease a "small housing project" as that term is defined in Health and Safety Code Section
33013, pursuant to Health and Safety Code Section 33433(c).
Section 7. By its Resolution No. 2013-11, the City Council confirmed that the
authorization for the former Agency to sell small housing projects pursuant to Health and
Safety Code Section 33433(c) transferred to the Housing Authority as the successor to the
former Agency's housing functions and assets.
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12812-0001 \152871 OVZ.dOC G 1HOUSINC%Petty LwaUMM t ff repwt%PUBLIC HEARING RESOLUTIONSW Raw ApWo-g mle FC Lot 21 Mlp of 14 15 doc
RESOLUTION NO. HA - 70
Section 8. Following notice duly given, the Housing Authority has held a full and fair
public hearing on the sale by the Housing Authority of the Property pursuant to Health and
Safety Code Section 33431. The Housing Authority has made available to the public
through the office of the City Clerk a copy of the Agreement prior to the public hearing.
Section 9. The Housing Authority hereby finds and determines that the Properties
qualify as a "small housing project" as that term is defined in Health and Safety Code
33013.
Section 10. The City and the Housing Authority hereby approves the Agreement
and the Housing Authority Executive Director ("Executive Director") is hereby authorized
and directed, for and in the name and on behalf of the Housing Authority, to finalize,
execute and deliver the Agreement in substantially the form on file with the Housing
Authority Secretary and the City Clerk and presented at this meeting, with such additions
thereto or changes or insertions therein as may be approved by the Executive Director
(such approval to be conclusively evidenced by such execution and delivery).
Section 11. The officers of the Housing Authority are hereby authorized and
directed, jointly and severally, to execute and deliver any and all necessary documents and
instruments and to do all things which they may deem necessary or proper in order to
effectuate the purposes of this Resolution and the transaction contemplated hereby; and
any such actions previously taken by such officers are hereby ratified, confirmed and
approved.
PASSED, APPROVED AND ADOPTED this 8th day of JANUARY 2015 by the
following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
SUSAN MARIE WEBER, CHAIRMAN
RACHELLE D. KLASSEN, SECRETARY
PALM DESERT HOUSING AUTHORITY
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12812-0001 \152871 M dOC G W OUSINGTatty LwUWASteM reporftPURLIC REARING RESOLUTIONSWA Rem AW-np sale FC Lot 21 A11p of 18-15 dot,
NOTICE OF A PUBLIC HEARING
OF THE CITY OF PALM DESERT AND THE PALM DESERT HOUSING
AUTHORITY REGARDING THE PROPOSED APPROVAL OF A RESIDENTIAL
PURCHASE AND SALE AGREEMENT
NOTICE IS HEREBY GIVEN that the Palm Desert Housing Authority (the
"Authority') will hold a Public Hearing to consider the approval of the DRAFT
Residential Purchase and Sale Agreement (the "Purchase and Sale Agreement")
by and between the Authority, as seller, and a person or family of low or
moderate income, as buyer. The Purchase and Sale Agreement pertains to one
single-family residence owned by the Authority located at Falcon Crest as
follows:
■ 42-050 Golden Eagle Lane, Palm Desert, CA 92260
Said Public Hearing will be held as follows:
DATE: Thursday, January 8, 2015
TIME: 4:00 P.M.
PLACE: City of Palm Desert
Council Chambers
73-510 Fred Waring Drive
Palm Desert, California 92260
A copy of the Purchase and Sale Agreement is available for public inspection
and copying at a cost not to exceed the cost of duplication, at the Office of the
City Clerk, 73-510 Fred Waring Drive, Palm Desert, California 92260. All
interested persons wishing to be heard on the matter may be present and be
heard. Any written communications should be addressed to the Authority
Secretary.
Dated: December 18, 2014
RA HELLE D. KLASSEN, SECRETARY
PALM DESERT HOUSING AUTHORITY
C:\UsersVsw&mz%AppData\LocaMAaowMWindows\TemporaryIntemet Files\Content.OuUook\BXHLIHFCWotm of PutHic Headnq FC 21 01-08.15.doc
C; A L I F O R N I A CALIFORNIA
RESIDENTIAL PURCHASE AGREEMENT
ASSUC IATION AND JOINT ESCROW INSTRUCTIONS
OF R E A L T O R S * For Use With Single Family Residential Property — Attached or Detached
(C.A.R. Form RPA-CA, Revised 4113)
Date
1. OFFER:
A. THIS IS AN OFFER FROM A Qualified Buyer of Lower, or Moderate Income ('Buyer').
B. THE REAL PROPERTY TO BE ACQUIRED is described as _ 42-050 Golden Eagle Lane, Palm Desert, CA 92260
, Assessor's Parcel No. 624-431-M situated in
Palest Desert , County of Riverside California, ('Property-).
C. THE PURCHASE PRICE offered is Two Hundred and Twenty Five Thousand
Dollars $ $225,000.00
D. CLOSE OF ESCROW shall occur on 60 days or sooner after AccaPtance (date) (or ❑ Days After Acceptance).
2. AGENCY:
A. DISCLOSURE: Buyer and Seller each acknowledge prior receipt of a 'Disclosure Regarding Real Estate Agency Relationships"
(C.A.R. Form AD).
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt of a disclosure of the possibility of
multiple representation by the Broker representing that principal. This disclosure may be part of a kstkV agreement, buyer representation
agreement or separate document (C.A.R. Form DA). Buyer understands that Broker representing Buyer may also represent other potential
buyers, who may consider, make offers on or ultimately acquire the Property. Seller understands that Broker representing Seller may also
represent other sellers with competing properties of interest to this Buyer.
C. CONFIRMATION: The following agency relationships are hereby confirmed for this transaction:
Listing Agent Centnry 21 Osborne Realty (Print Firm Name) is the agent
of (check one): ® the Seller exclusively; or ❑ both the Buyer and Seller.
Selling Agent (Print Firm Name) (if not the same as the
Listing Agent) is the agent of (check one): ❑ the Buyer exclusively; or ❑ the Seller exclusively; or ❑ both the Buyer and Seller. Real Estate
Brokers are not parties to the Agreement between Buyer and Seller.
3. FINANCE TERMS: Buyer represents that funds will be good when deposited with Escrow Holier.
A. INITIAL DEPOSIT: Deposit shall be in the amount of ................................................... $ 500.00
(1) Buyer shall deliver deposit directly to Escrow Holder by personal check, ❑ electronic funds transfer, ❑ other
within 3 business days after acceptance (or ❑ Other );
OR (2) (If checked) ❑ Buyer has given the deposit by personal check (or ❑ }
to the agent submitting the offer (or to ❑ ),
made payable to . The deposit shall be held
uncashed until Acceptance and then deposited with Escrow Holder (or ❑ into Broker's trust account) within 3
business days after Acceptance (or ❑ Other ).
B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of ........... $
within Days After Acceptance, or C)It a liquidated damages clause is incorporated into this Agreement, Buyer and Seller shall sign a separate
liquidated damages clause (C.A.R. Form RID) tar any increased deposit at the time it is Delivered.
C. LOAMS):
(1) FIRST LOAN: in the amount of ................................................................. $ 1'BD
This loan will be conventional financing or, if checked. ❑ FHA, ❑ VA, ❑ Seller (C.A.R. Form SFA),
❑ assumed financing (C.A.R. Form PAA), ❑ Other . This loan shall be at a fixed
rate not to exceed % or, ❑ an adjustable rate loan with initial rate not to exceed %.
Regardless of the type of loan, Buyer shall pay points not to exceed % of the loan amount.
(2) ❑ SECOND LOAN: in the amount of............................................................ $ TBD
This loan will be conventional financing or, if checked, ❑ Seller (C.A.R. Form SFA), ❑ assumed financing
(C.A.R. Form PAA), ❑ Other 5= 3. D . This ban shall be at a fixed rate not to exceed
% or, ❑ an adjustable rate loan with initial rate not to exceed %. Regardless of
the type of ban, Buyer shall pay points not to exceed %of the loan amount.
(3) FHAIVA: For any FHA or VA loan specified above, Buyer has 17 (or ❑ ) Days After Acceptance
to Deliver to Seller written notice (C.A.R. Form FVA) of any lender -required repairs or costs that Buyer
requests Seller to pay for or otherwise correct. Seller has no obligation to pay or satisfy lender requirements
unless otherwise agreed in wrifing.
D. ADDITIONALFINANCINGTERMS: Palm Desert Housina Authority and City of Palm
Desert my airs dorm Pay�t assistance. Provided buyer aualifies
E. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of ................................. $ (500. 00)
to be deposited with Escrow holder within sufficient time to dose escrow.
F. PURCHASE PRICE (TOTAL): ......................................... ........................... $ $225,000.00
Buyer's Initials (X ( ) Seller's Initials (X _ ) (X_ )
121,
0 2013. Celtbnia Aatociadw or REALTORS& Inc. WIMPITMly
RPA-CA REVISED 4113 (PAGE 1 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 1 OF 8)
Agent: John Osborne Phone: (760) 921.2121 Fax: (760) 922-4337 Prepared using zlpForm® software
Broker: CENTURY 21 Osborne Really 41 OrWde Ct Palm Desert, CA 02260
42-050 Golden Eagle Lane
Property Address: Palm Desert, Ca 92260 Date:
G. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to 3H(1) shall, within 7 (or
❑ ) Days After Acceptance, Deliver to Seiler written verification of Buyer's down payment and closing costs. (If checked, ❑
verification attached.)
H. LOAN TERMS:
(1) LOAN APPLICATIONS: Within 7 (or ❑ ) Days After Acceptance, Buyer shall Deliver to Seller a letter from lender or ban
broker stating that, based on a review of Buyers written application and credit report, Buyer is prequalified or preapproved for any NEW ban
specified in 3C above. (If checked, ❑ letter attached.)
(2) LOAN CONTINGENCY: Buyer shall act diligently and in good faith to obtain the designated loan(s). Obtaining the loan(s) specified above
Is a contingency of this Agreement unless otherwise agreed in writing. Buyer's contractual obligations to obtain and provide deposit, balance of
down payment and closing costs are not contingencies of this Agreement.
(3) LOAN CONTINGENCY REMOVAL:
(1) Within 17 (or ❑ ) Days After Acceptance, Buyer shall, as specified in paragraph 14, in writing remove the loan contingency or
cancel this Agreement;
OR (11) (f checked) ❑ the loan contingency shall remain in effect until the designated loans are funded.
(4) ❑ NO LOAN CONTINGENCY (If checked): Obtaining any loan specified above is NOT a contingency of this Agreement. If Buyer does not
obtain the ban and as a result Buyer does not purchase the Property, Seller may be entitled to Buyer's deposit or other legal remedies.
I. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (or, if checked, ❑ is NOT) contingent upon a written appraisal of the Property
by a licensed or certified appraiser at no less than the specified purchase price. It there is a loan contingency, Buyers removal of the loan
contingency shall be deemed removal of this appraisal contingency (or, ❑ if checked, Buyer shall, as specified in paragraph 14B(3), in writing
remove the appraisal contingency or cancel this Agreement within 17 (or ) Days After Acceptance). B there is no loan contingency,
Buyer shall, as specified in paragraph 14B(3), in writing remove the appraisal contingency or cancel this Agreement within 17 (or )
Days After Acceptance.
J. ❑ ALL CASH OFFER (If checked): Buyer shall, within 7 (or ❑ ) Days After Acceptance, Deliver to Seller written verification of
sufficient funds to close this transaction. (It checked, ❑ verification attached.)
K. BUYER STATED FINANCING: Seller has relied on Buyers representation of the type of financing specified (including but not limited to, as
applicable, amount of down payment, contingent or non contingent loan, or all cash). If Buyer seeks alternate financing, (e) Seller has no obligation
to cooperate with Buyers efforts to obtain such financing, and (h) Buyer shall also pursue the financing method specified in this Agreement.
Buyers failure to secure alternate financing does not excuse Buyer from the obligation to purchase the Property and dose escrow as specified in
this Agreement.
4. ALLOCATION OF COSTS (If checked): Unless otherwise specified here, in writing, this paragraph only determines who is to pay for the inspection,
test or service ("Report") mentioned; it does not determine who is to pay for any work recommended or Identified In the Report.
A. INSPECTIONS AND REPORTS:
(1) ❑ Buyer ® Seller shall pay for an inspection and report for wood destroying pests and organisms ("Wood Pest Report') prepared by
Sellers Choice a registered structural pest control company.
(2) ❑ Buyer ❑ Seller shall pay to have septic or private sewage disposal systems inspected
(3) ❑ Buyer ❑ Seller shall pay to have domestic wells tested for water potability and productivity
(4) ❑ Buyer ® Seller shall pay for a natural hazard zone disclosure report prepared by /'iz+t: Anerioa4 or Simi rate
(5) ❑ Buyer ❑ Seller shall pay for the following inspection or report
(6) ❑ Buyer ❑ Seller shall pay for the following inspection or report
B. GOVERNMENT REQUIREMENTS AND RETROFIT:
(1) ❑ Buyer ® Seller shall pay for smoke detector installation and/or water heater bracing, if required by Law. Prior to Close Of Escrow, Seller
shall provide Buyer written statement(s) of compliance in accordance with state and local Law, unless exempt.
(2) ❑ Buyer ❑ Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards, inspections and
reports if required as a condition of closing escrow under any Law.
C. ESCROW AND TITLE:
(1) ® Buyer ® Seller shall pay escrow fee Saab to pgr his/hor on.
Escrow Holler shall be .Pored to Sscrow
(2) ❑ Buyer ® Seller shall pay for owner's this Insurance policy specified in paragraph 12E
Owners tills policy to be issued by FYrst American Tula
(Buyer shall pay for any title insurance policy Insuring Buyer's lender, unless otherwise agreed in writing.)
D. OTHER COSTS:
(1) ❑ Buyer ® Seller shall pay County transfer tax or fee
(2) ❑ Buyer ❑ Seller shall pay City transfer tax or fee
(3) ❑ Buyer ® Seller shall pay Homeowners Association ("HOA") transfer fee
(4) ❑ Buyer ® Seller shall pay HOA document preparation fees Related Foos
(5) ❑ Buyer ❑ Seller shelf pay for any private transfer fee
(6) ❑ Buyer ® Seller shall pay the cost, not to exceed $ 350.00 of a one-year tome warranty plan,
issued by American 1'igme Shield with the following optional coverages:
® Air Conditioner ❑ Pool/Spa ❑ Code and Permit upgrade ® Other: Appliances
Buyer is informed that home warranty plans have many optional coverages in addition to those listed above. Buyer is advised to investigate
these coverages to determine those that may be suitable for Buyer.
(7) ❑ Buyer ❑ Seller shall pay for
(8) ❑ Buyer ❑ Seller shall pay for
Buyers Initials (X_) ( ) Sellers Initials (X_ ) (X ) 121
RPA-CA REVISED 4/13 (PAGE 2 OF 8) Revawred by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 2 OF 8) Falcon Crest Draft
42-050 Golden Eagle Lane
Property Address: Pala Desert, Ca 92260 Date:
S. CLOSING AND POSSESSION:
A. Buyer intends (or Q does not intend) to occupy the Property as Buyer's primary residence.
B. Seder -occupied or vaosnt property: Possession shall be delivered to Buyer at 5 PM or 0 AM 0 PM) on the date of Close
Of Esau; ❑ on ;or D no later than Days After Close Of Escrow. If transfer of title
and possession do not occur at the same time, Buyer and Seller are advised to: (i) enter into a written occupancy agreement (CAR. Form PAA,
paragraph 2), and 01) consult with their insurance and legal advisors.
C. Tanontoccuplsd property: (1) Property shall be vacant at least 5 (or fl ) Days Prior to Close Of Escrow�l otherwise agreed
in writing. Note to r. f you are unable to deliver Property vacant n sc�ncs with rent control and other you may
be In breach of this Agreement.
OR (11) (if checked) ❑ Tenant to remain in possession. (CAR. Form PAA, paragraph 3)
D, At Close Of Escrow. (1) Seller assigns to Buyer any assignable warranty rights for items included in the sale, and (11) Seller shall Deliver to Buyer
available Copies of warranties. Brokers cannot and will not determine the assignablllty of any warranties.
E. At Close Of Escrow, unless otherwise agreed in writing, Seller shall provide keys and/or means to operate all locks, mailboxes, security systems,
alarms and garage door openers. If Property is a condominium or located in a common interest subdivision, Buyer may be required to pay a
deposit to the Homeowners' Association ('HOA7 to obtain keys to accessible HOA facilities.
STATUTORY DISCLOSURES (INCLUDING LEAD -BASED PAINT HAZARD DISCLOSURES) AND CANCELLATION RIGHTS:
A. (1) Seller shall, within the time specified in paragraph 14A, Deliver to Buyer, if required by Law: (1) Federal Lead -Based Paint Disclosures (CAR.
Form FLO) and pamphlet ('Lead Disdosuresl; and (11) disclosures or notices required by sections 1102 et. seq. and 1103 et. seq. of the Civil
Code ('Statutory Disclosuresj. Statutory Disclosures include, but are not limited to, a Real Estate Transfer Disclosure Statement ('TDS'),
Natural Hazard Disclosure Statement CNH07, notice or actual knowledge of release of illegal controtied substance, notice of special tax
and/or assessments (or, if allowed, substantially equivalent notice regarding the Mello -Roos Community Facilities Act and Improvement Bond
Act of 1915) and, if Seller has actual knowledge, of industrial use and military ordnance location (CAR. Form SPO or SSD).
(2) Buyer shall, within the time specified in paragraph 148(1), return Signed Copies of the Statutory and Lead Disclosures to Seller.
(3) In the event Seller, prior to Close Of Escrow, becomes aware of adverse conditions materially affecting the Property, or any material
inaccuracy in disclosures, information or representations previously provided to Buyer, Seller shall promptly provide a subsequent or
amended disclosure or notice, in writing, covering those items. However, a subsequent or amended disclosure shall not be required for
conditions and material Inaccuracies of which Buyer is otherwise aware, or which are disclosed In reports provided to or obtained by
Buyer or ordered and paid for by Buyer.
(4) It any disclosure or notice specified in 6A(1), or subsequent or amended disclosure or notice is Delivered to Buyer after the offer is Signed,
Buyer shall have the right to cancel this Agreement w6%n 3 Days After Delivery In person, or 5 Days After Delivery by deposit in the mail, by
giving written notice of cancellation to Seller or Seller's agent.
(5) Noll to Buyer and Seller. Watver of Statutory and Lead Disclosures Is prohibited by Law.
B. NATURAL AND ENVIRONMENTAL HAZARDS: Within the time specified in paragraph 14A, Seller shall, if required by Law: (1) Deliver to Buyer
earthquake guides (and questionnaire) and environmental hazards booklet; (11) even if exempt from the obligation to provide a NHD, disclose if
the Property is located in a Special Flood Hazard Area; Potential Flooding (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earthquake Fault Zone; Seismic Hazard Zone; and (ill) disclose any other zone as required by Law and provide any other
information required for those zones.
C. WITHHOLDING TAXES: Within the time specified in paragraph 14A, to avoid required withholding, Seller shall Deliver to Buyer or qualified
substitute, an affidavit sufficient to comply with federal (FIRPTA) and California withholding Law (CAR. Form AS or OS).
0. MEGAN'S LAW DATABASE DISCLOSURE: Notice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex
offenders is made available to the public via an Internet Web site maintained by the Department of Justice at www.meganslaw.ca.gov. Depending
on an offender's criminal history, this information will include either the address at which the offender resides or the community of residence and
ZIP Code in which he or she resides. (Neither Seller nor Brokers are required to check this website. If Buyer wants further information, Broker
recommends that Buyer obtain information from this website during Buyer's inspection contingency period. Brokers do not have expertise in this
area.)
E. NOTICE REGARDING GAS AND HAZARDOUS LIOUID TRANSMISSION PIPELINES: This notice is being provided simply to inform you that
Information about the general location of gas and hazardous liquid transmission pipelines is available to the public via the National Pipeline
Mapping System (NPMS) Internet Web site maintained by the United States Department of Transportation at httpYMww.npms.phmsa.dol.gov/. To
seek further information about possible transmission pipelines near the Property, you may contact your local gas utility or other pipeline operators
in the area. Contact information for pipeline operators is searchable by ZIP Code and county on the NPMS Internet Web site.
CONDOMINIUMIPLANNED DEVELOPMENT DISCLOSURES:
A. SELLER HAS: 7 (or ) Days After Acceptance to disclose to Buyer whether the Property is a condominium, or is located in a
planned development or other common interest subdivision (CAR. Form SPO or SSG).
B. If the Property is a condominium or is located in a planned development or other common interest subdivision, Seiler has 3 (or ❑ )
Days After Acceptance to request from the HOA (CAR. Forth HOA): (Q Copies of any documents required by Law; (ti) disclosure of any pending
or anticipated claim or litigation by or against the HOA; (ill) a statement containing the location and number of designated parking and storage
spaces; (iv) Copies of the most recent 12 months of HOA minutes for regular and special meetings; and (v) the names and contact information of
all HOAs governing the Property (collectively, "CI Disclosures'). Seller shall itemize and Deliver to Buyer all Cl Disclosures received from the HOA
and any Cl Disclosures in Seller's possession. Buyer's approval of Cl Disclosures is a contingency of this Agreement as specified in paragraph
148(3).
ITEMS INCLUDED IN AND EXCLUDED FROM PURCHASE PRICE:
A. NOTE TO BUYER AND SELLER: Items listed as included or excluded in the MILS, flyers or marketing materials are not Included in the purchase
price or exc xJed tram the sale unless specified in 8B or C.
B. ITEMS INCLUDED IN SALE:
(1) All EXISTING fixtures and fittings that are attached to the Property;
(2) EXISTING electrical, mechanical, lighting, plumbing and heating fixtures, ceiling fans, fireplace inserts, gas logs and grates, solar systems,
built-in appliances, window, and door screens, awnings, shutters, window coverings, attached floor coverings, television antennas, satellite
dishes, private integrated telephone systems, air coolers/conditioners. poot/spa equipment, garage door openershemote controls, mailbox,
In -ground landscaping, trees/shrubs, water softeners, water purifiers, security systemstalarms-, (ft checked) 0 stove(s), Q refrigerator(s);
Buyer's Initials (�_) ( ) Seller's Initials (Y ) A 121
RPA-CA REVISED 4113 (PAGE 3 OF 8) Reviewed M Date "M l':
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 3 OF 8) Falcon Crest Draft
42-050 Golden Eagle Lane
Property Address: Pals Dysart, Ca 92260 Date:
(3) The following additional items:
(4) Seiler represents that all items included in the purchase price, unless otherwise specified. are owned by Seller.
(5) All items included shall be transferred free of liens and without Seller warranty.
C. ITEMS EXCLUDED FROM SALE: Unless otherwise specified, audio and video components (such as flat screen TVs and speakers) are excluded
if any such Item Is not itself attached to the Property, even if a bracket or other mechanism attached to the component is attached to the Property;
and
9. CONDITION OF PROPERTY: Unless otherwise agreed: (n the Property Is sold (a) In its PRESENT physical ("as-1s') condition as of the date
of Acceptance and (b) subject to Buyer's Investigation rights; (11) the Property, including pool, spa, landscaping and grounds, is to be
maintained in substantially the same condition as on the date of Acceptance; and (ill) all debris and personal property not included in the sale shall
be removed by Close Of Escrow.
A. Seiler shall, within the time specified in paragraph 14A, DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting the Property, including
known Insurance claims within the past five years, and make any and all other disclosures required by law.
S. Buyer has the right to Inspect the Property and, as specified in paragraph 14B, based upon information discovered in those inspections: (i)
cancel this Agreement; or (11) request that Seller make Repairs or take other action.
C. Buyer Is strongly advised to conduct investigations of the entire Property In order to determine Its present condition. Seller may riot be
aware of all defects affecting the Property or other factors that Buyer considers Important. Property Improvements may not be built
according to code, In compliance with current Law, or have had permits Issued.
10. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A. Buyer's acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified In this
paragraph and paragraph 148. Within the time specified in paragraph 1413(1), Buyer shall have the right, at Buyer's expense unless otherwise
agreed, to conduct inspections, investigations, tests, surveys and other studies ('Buyer Investigations*), including, but not limited to, the right to:
(1) inspect for lead -based paint and other lead -based paint hazards; (1q inspect for wood destroying pests and organisms; (III) review the
registered sex offender database; (Iv) confirm the insurability of Buyer and the Property; and (v) satisfy Buyer as to any matter specified in the
attached Buyers Inspection Advisory (C.A.R. Form BIA). Without Seller's prior written consent, Buyer shall neither make nor cause to be made: (1)
invasive or destructive Buyer Investigations; or (11) inspections by any governmental building or zoning inspector or government employee, unless
required by Law.
B. Seller shah make the Property available for all Buyer Investigations. Buyer shall (1) as specified in paragraph 14B, complete Buyer Investigations
and, either remove the contingency or cancel this Agreement, and (If) give Seller, at no cost, complete Copies of all Investigation reports obtained
by Buyer, which obligation shall survive the termination of this Agreement.
C. Seller shad have water, gas, electricity and all operable pilot lights on for Buyers Investigations and through the date possession is made
available to Buyer.
D. Buyer Indemnity and Seller protection for entry upon property: Buyer shall: (1) keep the Property free and dear of liens; (Ili) repair an damage
arising from Buyer Investigations; and (Ili) Indemnify and hold Seder harmless from all resulting liability, claims, demands, damages and casts.
Buyer shad carry, or Buyer shad require anyone acting on Buyer's behalf to carry, policies of liability, workers' compensation and other applicable
insurance, defending and protecting Seller from liability for any injuries to persons or property occurring during any Buyer Investigations or work
done on the Property at Buyer's direction prior to Close Of Escrow. Seder is advised that certain protections may be afforded Seder by recording a
'Notice of Nonresponsibilty' (C.A.R. Form NNR) for Buyer Investigations and work done on the Property at Buyer's direction. Buyer's obligations
under this paragraph shall survive the termination of this Agreement.
11. SELLER DISCLOSURES; ADDENDA; ADVISORIES; OTHER TERMS:
A. Seller Discloswes (if checked): Seller shall, within the time specified in paragraph 14A, complete and provide Buyer with a:
® Seller Property Questionnaire (G.A.R. Form SPO) OR ® Supplemental Contractual and Statutory Disclosure (C.A.R. Form SSD)
S. Addenda (if checked): ® Addendum a 2 (C.A.R. Form ADM)
® Wood Destroying Pest Inspection and Allocation of Cost Addendum (C.A.R. Form WPA)
❑ Purchase Agreement Addendum (C.A.R Form PAA) ❑ Septic, Well and Property Monument Addendum (C.A.R. Form SWPI)
❑ Short Sale Addendum (C.A.R. Form SSA) ❑ Other
C. Advisories (H Checked): 21 Buver's Insoactlon Advisory (C.A.R. Form RIA1
❑ Probate Advisory (C.A.R. Forth PAK) ® Statewide Buyer and Seiler Advisory (C.A.R. Form SBSA)
❑ Trust Advisory (C.A.R. Form TA) ❑ RED Advisory (C.A.R. Form RED)
D. Other Terms:
12. TITLE AND VESTING:
A. Within the time specified in paragraph 14, Buyer shad be provided a current preliminary title report, which shall include a search of the General
Index, Seder shall within 7 Days After Acceptance, give Escrow Holder a completed Statement of information. The preliminary report is only an
offer by the title insurer to issue a policy of title insurance and may not contain every Item affecting title. Buyer's review of the preliminary report
and any other matters which may affect title are a contingency of this Agreement as specified in paragraph 148.
B. Tide is taken in Its present condition subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other matters,
whether of record or not, as of the date of Acceptance except: (1) monetary liens of record unless Buyer Is assuming those obligations or taking
the Property subject to those obligations; and (II) those matters which Seller has agreed to remove in writing.
C. Within the time specified in paragraph 14A, Seiler has a duty to disclose to Buyer ail matters known to Seller affecting title, whether of record or
not.
D. At Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for stock cooperative or long-term lease, an assignment of stock
certificate or of Sellers leasehold interest), including oil, mineral and water rights 4 currently awned by Seller. Tide shad vest as designated in
Buyer's supplemental escrow instructions. THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEQUENCES.
CONSULT AN APPROPRIATE PROFESSIONAL.
E. Buyer shall receive a CLTA/ALTA Homeowner's Policy of Title Insurance. A title company, at Buyer's request, can provide information about the
availability, desirability, coverage, and cost of various title insurance coverages and endorsements. If Buyer desires title coverage other than that
required by this paragraph, Buyer shall instruct Escrow Holder in writing and pay any increase in cost.
Buyers Initials (X) ( ) Seller's Initials (X� ) (X__)
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CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 4 OF 8) Falcon Crest Drill
42-050 Golden Eagle Lane
Property Address: Palm Dissort, Ca 92260 Date:
13. SALE OF BUYERS PROPERTY:
A. This Agreement is NOT contingent upon the sale of any property owned by Buyer.
OR B. 0(� (If checked): The attached addendum (C.A.R. Form COP) regarding the contingency for the sale of property
to
this Agreement.
owned by Buyer is incorporated
14. TIME PERIODS; REMOVAL OF CONTINGENCIES; CANCELLATION RIGHTS: The following time periods may only be extended, altered,
modified or changed by mutual written agreement. Any removal of contingencies or cancellation under this paragraph by either Buyer or
Seiler must be exercised In good faith and In writing (C.A.R. Form CR or CC).
A. SELLER HAS: 7 (or 15 ) Days After Acceptance to Deliver to Buyer all Reports, disclosures and information for which Seller is
responsible under paragraphs 4, 6A, B and C, 7A, 9A, 11A and B, and 12A. Buyer may give Seller a Notice to Seller to Perform (C.A.R. Form
NSP) if Seller has not Delivered the items within the time specified.
B. (1) BUYER HAS: 17 (or ) Days After Acceptance, unless otherwise agreed in writing, to:
(1) complete all Buyer Investigations: approve all disclosures, reports and other applicable information, which Buyer receives from Seller, and
approve all matters affecting the Property; and
(if) Deliver to Seller Signed Copies of Statutory and Lead Disclosures Delivered by Seller in accordance with paragraph 6A.
(2) Within the time specified in 148(1), Buyer may request that Seller make repairs or take any other action regarding the Property (G.A.R. Form
RR). Seiler has no obligation to agree to or respond to Buyer's requests.
(3) By the end of the time specified in 14B(1) (or as otherwise specified in this Agreement), Buyer shall, Deliver to Seller a removal of the
applicable contingency or cancellation (C.A.R. Form CR or CC) of this Agreement. However, it any report, disclosure or information for which
Seller is responsible is not Delivered within the time specified in 14A, then Buyer has 5 (or [] ) Days After Delivery of any such
items, or the time specified in 148(1), whichever is later, to Deliver to Seller a removal of the ica a contingency or cancellation of this
Agreement.
(4) Continuation of Contingency: Even after the end of the time specified in 148(1) and before Seller cancels, it at all, pursuant to 14C, Buyer
retains the right to either (i) in writirmg remove remaining contingencies, or (ii) cancel this Agreement based on a remaining contingency. Once
Buyer's written removal of all contingencies is Delivered to Seller, Seller may not cancel this Agreement pursuant to 14C(1).
C. SELLER RIGHT TO CANCEL:
(1) Sailor right to Cancel; Buyer Contkrgsndes: If, by the time specified in this Agreement, Buyer does not Deliver to Seller a removal of the
applicable contingency or cancef bon of this Agreement then Seller, after first Delivering to Buyer a Notice to Buyer to Perform (C.A.R. Form
NBP) may cancel this Agreement. In such event, Seller shad authorize return of Buyer's deposit.
(2) Seller right to Cancel; Buyer Contract Obligations: Seiler, after first Delivering to Buyer a NBP may cancel this Agreement for any of the
following reasons; (1) 6 Buyer fails to deposit funds as required by 3A or 3B; (it) if the funds deposited pursuant to 3A or 38 are not good when
deposited; (III) if Buyer fails to Deliver a notice of FHA or VA costs or terms as required by 3C(3) (C.A.R. Form FVA); (Iv) if Buyer falls to
Deliver a letter as required by 31-1; (v) lf Buyer fails to Deliver verification as required by 3G or 3J; (vl) if Seller reasonably disapproves of the
verification provided by 3G or 3J; (vIQ if Buyer fails to return Statutory and Lead Disclosures as required by paragraph 6A(2); or (vill) if Buyer
fails to sign or initial a separate liquidated damages form for an increased deposit as required by paragraphs 38 and 25. In such event, Seller
shall authorize return of Buyers deposit.
(3) Notice To Buyer To Perform: The NBP shall: (1) be in writing; (11) be signed by Seller; and (III) give Buyer at least 2 (or ❑ ) Days
After Delivery (or unfit the time specified in the applicable paragraph, whichever occurs last) to take the applicable action. A NBP may not be
Delivered any eartier than 2 Days Prior to the expiration of the applicable time for Buyer to remove a contingency or cancel this Agreement or
meet an obligation specified in 14C(2).
D. EFFECT OF BUYER'S REMOVAL OF CONTINGENCIES: If Buyer removes, In writing, any contingency or cancellation rights, unless otherwise
specified in a separate written agreement between Buyer and Seller, Buyer shad conclusively be deemed to have: (i) completed all Buyer
Investigations, and review of reports and other applicable information and disclosures pertaining to that contingency or cancellation right; (11)
elected to proceed with the transaction; and (IIIQ assumed all liability, responsibility and expense for Repairs or corrections pertaining to that
contingency or cancellation right, or for inability to obtain financing.
E. CLOSE OF ESCROW: Before Seller or Buyer may cancel this Agreement for failure of the other party to close escrow pursuant to this
Agreement, Seder or Buyer must first Deliver to the other a demand to close escrow (C.A.R. Form DC£).
F. EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation pursuant to rights duly exercised under the
terms of this Agreement, Buyer and Seller agree to Sign mutual instructions to cancel the sale and escrow and release deposits, if any, to the
parry entitled to the funds, less fees and costs incurred by that parry. Fees and costs may be payable to service providers and vendors for
services and products provided during escrow. Release of funds will require mutual Signed release Instructions from Buyer and Seller,
Judicial decision or arbitration award. A Buyer or Seiler may be subject to a civil penalty of up to $1,000 for refusal to sign such
Instructions M no good faith dispute exists as to who Is entitled to the deposited funds (Civil Code %1057.3).
15. REPAIRS: Repairs shall be completed prior to final verification of condition unless otherwise agreed in writing. Repairs to be performed at Settees
expense may be performed by Seller or through others, provided that the work complies with applicable Law, including governmental permit,
inspection and approval requirements. Repairs shall be performed in a good, skillful manner with materials of quality and appearance comparable to
existing materials. It is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible. Seller shall: (1)
obtain receipts for Repairs performed by others; (II) prepare a written statement indicating the Repairs performed by Seller and the date of such
Repairs; and (IN) provide Copies of receipts and statements to Buyer prior to final verification of condition.
16. FINAL VERIFICATION OF CONDITION: Buyer shall have the right to make a final inspection of the Property within 5 (or ) Days Prior
to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm: 0) the Property Is maintained pursuant to paragraph 9; (11)
Repairs have been completed as agreed; and (NI) Seller has complied with Sellers other obligations under this Agreement (C.A.R. Form VP).
17. PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS: Unless otherwise agreed in writing, the following Items shad be PAID CURRENT and
prorated between Buyer and Seiler as of Close Of Escrow: real property taxes and assessments, interest, rents, HOA regular, special, and emergency
dues and assessments imposed prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and assessments
assumed by Buyer, and payments on Mello -Roos and other Special Assessment District bonds and assessments that are now a lien. The following
items shad be assumed by Buyer WITHOUT CREDIT toward the purchase price: prorated payments on Mello -Roos and other Special Assessment
District bonds and assessments and HOA special assessments that are now a ken but not yet due. Property will be reassessed upon change of
ownership. Any supplemental tax bills shall be paid as follows: (Q for periods after Close Of Escrow, by Buyer; and (11) for periods prior to Close Of
Escrow, by Seller (see C.A.R. Form SPT or SBSA for further information). TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED
DIRECTLY BETWEEN BUYER AND SELLER. Prorations shall be made based on a 30-day month.
Buyer's Initials (X_ } { } Seller's Initals (Y_ ) A 121
RPA-CA REVISED 413 (PAGE 5 OF 8) Rev' by Date wro"W °r
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 5 OF 8) Falcon Crest Draft
42-050 Golden Eagle Lane
Property Address: Pals Dysart, Ca 92260 Date:
18. SELECTION OF SERVICE PROVIDERS: Brokers do not guarantee the performance of any vendors, service or product providers ("Providers'),
whether referred by Broker or selected by Buyer, Seller or other person. Buyer and Seller may select ANY Providers of their own choosing.
19. MULTIPLE LISTING SERVICE CIMLS"): Brokers are authorized to report to the MLS a pending sale and, upon pose Of Escrow, the sales price and
other terms of this transaction shall be provided to the MLS to be published and disseminated to persons and entities authorized to use the
information on terms approved by the MLS.
2CL EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with federal, state and local anti -discrimination Laws.
21. ATTORNEY FEES: In any action, proceeding, or arbitration between Buyer and Seller arising out of this Agreement, the prevailing Buyer or Seller
shall be entitled to reasonable attorney fees and costs from the non -prevailing Buyer or Seller, except as provided in paragraph 26A.
22. DEFINITIONS: As used in this Agreement:
A. "Acceptance" means the time the offer or final counter offer is accepted in writing by a party and is delivered to and personally received by the
other party or that party's authorized agent in amordenoe with the terms of this offer or a final counter offer.
B. "C.A.R. Form" means the specific form referenced or another comparable form agreed to by the parties.
C. "Close Of Escrow" means the date the grant deed, or other evidence of transfer of title, Is recorded.
D. "Copy" means copy by any means including photocopy, NCR, facsimile and electronic.
E. "Days" means calendar days. However, alter Acceptance, the last Day for performance of any act required by this Agreement (including Close Ot
Escrow) shall not Include any Saturday, Sunday, or legal holiday and shall instead be the next Day.
F. "Days After" means the specified number of calendar days after the occurrence of the event specified, not counting the calendar date on which
the specified event occurs, and ending at 11:59PM on the final day.
G. "Days Prior" means the specified number of calendar days before the occurrence of the event specified, not counting the calendar date on which
the specified event is scheduled to occur.
H. "Deliver", "Delivered" or "Delivery", means and shall be effective upon (i) personal receipt by Buyer or Seller or the individual Real Estate
Licensee for that prirxVW as specified in paragraph D of the section titled Real Estate Brokers on page 8, regardless of the method used (i.e.
messenger, mail, email, fax, other); OR (if) if checked, per the attached addendum (C.A.R. Form RDN).
I. "Electronic Copy" or "Electronic Signature" means, as applicable, an electronic copy or signature oomplying with California Law. Buyer and
Seller agree that electronic means will not be used by either party to modify or after the content or integrity of this Agreement without the
knowledge and consent of the other.
J. "Lauuf' means any law, code, statute, ordinance, regulation, rule or order, which is adopted by a controlling city, county, state or federal legislative,
judicial or executive body or agency.
K. "Repairs" means any repairs (including pest control), alterations, replacements, modifications or retrofitting of the Property provided for under this
Agreement.
L. "Signed" means either a handwritten or electronic signature on an original document, Copy or any counterpart.
23. BROKER COMPENSATION: Seller or Buyer, or both, as applicable, agrees to pay compensation to Broker as specified in a separate written
agreement between Broker and that Seller or Buyer. Compensation is payable upon Close Of Escrow, or it escrow does not dose, as otherwise
specified in the agreement between Broker and that Seller or Buyer.
24. JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:
A. The following paragraphs, or applicable portions thereof, of tfds Agreement oonstitute tin joint escrow Instruoons of Buyer and Seller
to Escrow Holder, which Escrow Holder is to use along with any related counter offers and addenda, and any additional mutual instructions to
dose the escrow: 1, 3, 4, 6C, 11 B and D, 12, 138, 14F, 17, 22, 23, 24, 28, 30 and paragraph D of the section titled Real Estate Brokers on page
8. ff a Copy of the separate compensation agreement(s) provided for in paragraph 23, or paragraph D of the section titled Real Estate Brokers on
page 8 is deposited with Escrow Holder by Broker, Escrow Holder shall accept such agreement(s) and pay out from Buyer's or Seller's funds, or
both, as applicable, the Broker's compensation provided for in such agreement(s). The terms and conditions of this Agreement not set forth in the
specified paragraphs are additional matters for the information of Escrow Holder, but about which Escrow Holder need not be concerned. Buyer
and Seller will receive Escrow Holder's general provisions directly from Escrow Holder and will execute such provisions upon Escrow Holder's
request. To the extent the general provisions are inconsistent or conflict with this Agreement, the general provisions will control as to the duties
and obligations of Escrow Holier only. Buyer and Seller will execute additional instructions, documents and forms provided by Escrow Folder that
are reasonably necessary to dose the escrow.
B. A Copy of this Agreement shall be delivered to Escrow Holder within 3 business days after Acceptance (or 0
). Escrow Holder shall provide Seffer's Statement of
Information to Title company when received from Seller. Buyer and Seller authorize Escrow Holder to accept and rely on Copies and Signatures
as defined in this Agreement as originals, to open escrow and for other purposes of escrow. The validity of this Agreement as between Buyer and
Seller is not affected by whether or when Escrow Holder Signs this Agreement.
C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraph 23 and paragraph D of the section filled Real
Estate Brokers on page 8. Buyer and Seller irrevocably assign to Brokers compensation specified in paragraph 23, respectively, and irrevocably
instruct Escrow Folder to disburse those funds to Brokers at Close Of Escrow or pursuant to any other mutually executed cancellation agreement.
Compensation instructions can be amended or revoked orgy with the written consent of Brokers. Buyer and Seller shall release and hold harmless
Escrow Holder from any liability resulting from Escrow Holder's payment to Broker(s) of compensation pursuant to this Agreement. Escrow Holder
shag immediately notify Brokers: m If Buyers initial or any additional deposit is not made pursuant to this Agreement, or is not good at time of
deposit with Escrow Holder; or (N) if Buyer and Seger instruct Escrow Holder to cancel escrow.
D. A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be delivered to Escrow
Holder within 2 business days after mutual execution of the amendment.
Buyer's Initials (YA ( ) Seller's Initials (X ) (�_ )
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CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 6 OF 8) Falcon Crest Draft
42-050 Golden Eagle Lane
Property Address: Palm Drsert, Ca 92260 Date:
25. LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyer's default, Seller shall retain, as
liquidated dernages, the deposit actually paid. If the Property is a dwelling with no more than four units, one of which Buyer
Intends to occupy, then the amount retained shall be no more than 3% of the purchase price. Any excess shall be returned
to Buyer. Release of funds will require mutual, Signed release Instructions from both Buyer and Seller, judicial decision or
arbitration award. AT TIME OF THE INCREASED DEPOSIT BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT (C.A.R. FORM RID).
eu er-s Initials / Seller's Initials
26. DISPUTE RESOLUTION:
A. MEDIATION: Buyer and Seller agree to mediate any dispute or claim arising between them out of this Agreement, or any resulting transaction,
before resorting to arbitration or court action. Buyer and Seller also spree to mediate any disputes or claims with Broker(a), who, In writing,
agree to such mediation prior to, or within a reasonable time after, the dispute or claim Is presented to the Broker. Mediation fees, it any,
shall be divided equally among the parties involved. If, for any dispute or claim to which this paragraph applies, any party (i) commences an action
without first attempting to resolve the matter through mediation, or (if) before commencement of an action, refuses to mediate after a request has
been made, then that party shag not be entitled to recover attorney fees, even It they would otherwise be available to that party in any such action.
THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED. Exclusions from this mediation
agreement are specified In paragraph 26C.
B. ARBITRATION OF DISPUTES:
Buyer and Seller agree that any dispute or claim In Law or equity arising between them out of this Agreement or any
resulting transaction, which Is not settled through mediation, shall be decided by neutral, binding arbitration. Buyer and
Seller also agree to arbitrate any disputes or claims with Broker(s), who, in writing, agree to such arbitration prior to, or
within a reasonable time after, the dispute or claim is presented to the Broker. The arbitrator shall be a retired judge or
justice, or an attorney with at least 5 years of residential real estate Law experience, unless the parties mutually agree to
a different arbitrator. The parties shall have the right to discovery in accordance with Code of Civil Procedure §1283.05.
In all other respects, the arbitration shall be conducted In accordance with Title 9 of Part 3 of the Code of Civil
Procedure. Judgment upon the award of the arbitrator(s) may be entered into any court having jurisdiction. Enforcement
of this agreement to arbitrate shall be governed by the Federal Arbitration Act. Exclusions from this arbitration
agreement are specified in paragraph 26C.
"NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT
OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION
AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE
DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR
JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE
'ARBITRATION OF DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS
PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL
PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY."
"WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT
OF THE MATTERS INCLUDED IN THE'ARBITRATION OF DISPUTES' PROVISION TO NEUTRAL ARBITRATION."
Bu er's Inttials / Seller's Initials /
C. ADDITIONAL MEDIATION AND ARBITRATION TERMS:
(1) EXCLUSIONS: The following matters are excluded from mediation and arbitration: (1) a judicial or non -judicial foreclosure or other
action or proceeding to enforce a deed of trust, mortgage or installment land eels contract as defined In Civil Cods #2985; (It) an
unk wturl detainer action; (lit) the filing or enforcement of a mechanic's lien; and (tv) any matter that Is within the jurisdiction of a
probate, small cialms or bankruptcy court The filing of a court action to enable the recording of a notice of pending action, for order of
attachment, receivership, Injunction, or other provisional remedies, shall not constitute a waiver nor violation of the mediation and
arbitration provisions.
(2) BROKERS: Brokers shall not be obligated nor compelled to macilate or arbitrate unless they agree to do so In writing. Any Brokers)
participating In mediation or arbitration shall not be deemed a party to the Agreement.
27. TERMS AND CONDITIONS OF OFFER:
This is an offer to purchase the Property on the above tents and conditions. The liquidated damages paragraph or the arbitration of disputes
paragraph is incorporated in this Agreement if initialed by all parties or if incorporated by mutual agreement in a counter offer or addendum. It at least
one but not all parties initial, a counter offer is required until agreement is reached. Seller has the right to continue to offer the Property for sale and to
accept any other offer at any time prior to notification of Acceptance. Buyer has read and aciatowledges receipt of a Copy of the offer and agrees to
the above confirmation of agency relationships. If this offer is accepted and Buyer subsequently defaults, Buyer may be responsible for payment of
Brokers' compensation. This Agreement and any supplement, addendum or modification, including any Copy, may be Signed in two or more
counterparts, all of which shag constitute one and the same writing.
28. TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time is of the essence. Ali understandings between the parties are incorporated in this
Agreement. Its terms are intended by the parties as a final, complete and exclusive expression of their Agreement with respect to its subject matter,
and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. If any provision of this Agreement is held to be
ineffective or invalid, the remaining provisions will nevertheless be given fug force and effect. Except as otherwise specified, this Agreement shall be
interpreted and disputes shall be resolved in accordance with the laws of the State of Callfomia. Nelther this Agresrnent nor any provision In It
may be extended, amended, modified, altered or changed, except in writing Signed by Buyer and Seiler.
Buyer's Initials (X ( ) Seller's Initials (X ) (X)
f2i
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CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 7 OF 8) Falcon Crest Draft
42-050 Golden Eagle Lane
Property Address: Pals Desert, Ca 92260
Date:
29. EXPIRATION OF OFFER: This offer shall be deemed revoked and the deposit shall be returned unless the offer is Signed by Seller and a Copy of the
Signed offer is personally received by Buyer, or by , who is
authorized to receive It, by 5:00 PM on the third ay after is offer is signed by Buyer (or, if asked, f 1 by
❑ AM ❑ PM, on ( e)).
Date
BUYER
Date
BUYER
Buyers Blame
(Print none) (Print name)
(Address)
30. ACCEPTANCE OF OFFER: Seiler warrants that Setter is the owner of the Property, or has the authority to execute this Agreement. Seller accepts the
above offer, agrees to sell the Property on the above terms and conditions, and agrees to the above confirmation of agency relationships. Seller has
read and acknowledges receipt of a Copy of this Agreement, and authorizes Broker to Deliver a Signed Copy to Buyer.
❑ (If checked) SUBJECT TO ATTACHED COUNTER OFFER (C.A.R. Form CO) DATED:
Date Date
SELLER
SELLER X
(Print name)
( / ) CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was personally received by Buyer or Buyer's authorized
(Initials) agent on (date) at ❑ AM ❑ PM. A binding Agreement Is ~ad when
a Copy of Signed Acceptance is personalty received by Buyer or Buyers authorized agent whether or not confirmed in
this document. Completion of this conftrmatlon Is not IeWy required In order to create a binding Agreement; It Is solely
Intended to evidence the date that Confirmation of Acceptance has occurred.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seller.
B. Agency relatlorsships are confirmed as stated In paragraph 2.
C. If specified in paragraph 3A, Agent who submitted the offer for Buyer acknowledges receipt of deposit.
D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker (Selling Firm) and Cooperating Broker agrees to
accept, out of Listing Broker's proceeds in escrow: (1) the amount specified In the MILS, provided Cooperating Broker is a Participant of the MLS in
which the Property is offered for safe or a reciprocal MLS; or (In ❑ (if checked) the amount specified in a separate written agreement (C.A.R. Form
CBC) between Listing Broker and Cooperating Broker. Declaration of License and Tax (C.A.R. Form OLT) may be used to document that tax reporting
will be required or that an exemption exists.
Real Estate Broker (Selling Rrm) BRIE Lic. #
By BRE Lic. If Date
Address aty State zip
Telephone Fax E-mail
Real Estate Broker (Listing Firm) Cent=7 21 0aborne itisalty BRIE Lic. If 01312235
ByLic. # 00052775 Date
Address 41 Or 'die Ct Pala Deaezt State CA zip 92260
Telephone-"-- 0) 5 7-21 7 Fax (7 ) 2-4387 E-mail 1oh0. o g fMturs2l . cans
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement, (if checked, ❑ a deposit in the amount of $ ),
counter offer number ❑ Seller's Statement of Information and
, and agrees to act as Escrow Holder subject to paragraph 24 of this Agreement, any
supplemental escrow instructions and the terms of Escrow Holder's general provisions.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller Is
Escrow Holder Escrow #
By Date
ass
Phote/Fax/E-mail
Escrow Folder is likens a Department oCorporations, ❑ Insurance, 0 Real Estate. License #
PRESENTATION OF OFFER: ( ) Listing Broker presented this offer to Seller on (date).
Broker or DesVw Initials
REJECTION OF OFFER: ( ) ( ) No counter offer is being made. This offer was rejected by Seller on (date).
Sellees Initials
O 2013. CaMornis AswcWion of REALTORee, Inc. UNted Stafes ooW4ght kw (Too 17 U.S. Code) forbids flw unudw ized cistnbuDon, dispay and reproduction of this form, of any porWn twsof. by
plwtowpy rrodule or any onwr rneen, kwkKkV foosirr" or camputxaed formats.
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORSO (C.A.R.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ACCURACY OF ANY
PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON OUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL.
r Pul>WW and DistfblAld by.
a REAL ESTATE BUSINESS SERVICES, INC. �,rD
a sitsigiery oflrie CAL1FORM4 ASSOCIATM OF REAL TORS85x South Vial Avenue, Los And, California 9= bate
REVISION DATE 4/13
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 8 OF 8) Falcon Crest Draft
l` CALIFORNIA
4 ASSOCIATION BUYER'S INSPECTION ADVISORY
It OF REALTORS(K (C.A.R. Form BIA-A, Revised 10✓02)
42-050 Golden Eagle Lane
Property Address: pals Desact, Ca 92260 ("Property").
A. IMPORTANCE OF PROPERTY INVESTIGATION: The physical condition of the land and improvements being purchased is not
guaranteed by either Seller or Brokers. For this reason, you should conduct thorough investigations of the Property personally and with
professionals who should provide written reports of their investigations. A general physical inspection typically does not cover all aspects
of the Property nor items affecting the Property that are not physically located on the Property. If the professionals recommend further
investigations, including a recommendation by a pest control operator to inspect inaccessible areas of the Property, you should contact
qualified experts to conduct such additional investigations.
B. BUYER RIGHTS AND DUTIES: You have an affirmative duty to exercise reasonable care to protect yourself, including discovery of
the legal, practical and technical implications of disclosed facts, and the investigation and verification of information and facts that you
know or that are within your diligent attention and observation. The purchase agreement gives you the right to investigate the Property. If
you exercise this right, and you should, you must do so in accordance with the terms of that agreement. This is the best way for you to
protect yourself. It is extremely important for you to read all written reports provided by professionals and to discuss the results of
inspections with the professional who conducted the inspection. You have the right to request that Seller make repairs, corrections or
take other action based upon items discovered in your investigations or disclosed by Seller. If Seller is unwilling or unable to satisfy your
requests, or you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the
agreement it you act within specific time periods. If you do not cancel the agreement in a timely and proper manner, you may be in
breach of contract.
C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you material facts known to him/her that affect the value or
desirability of the Property. However, Seller may not be aware of some Property defects or conditions. Seller does not have an obligation
to inspect the Property for your benefit nor is Seller obligated to repair, correct or otherwise cure known defects that are disclosed to you
or previously unknown defects that are discovered by you or your inspectors during escrow. The purchase agreement obligates Seller to
make the Property available to you for investigations.
D. BROKER OBLIGATIONS: Brokers do not have expertise in all areas and therefore cannot advise you on many items, such as soil
stability, geologic or environmental conditions, hazardous or illegal controlled substances, structural conditions of the foundation or other
improvements, or the condition of the roof, plumbing, heating, air conditioning, electrical, sewer, septic, waste disposal, or other system.
The only way to accurately determine the condition of the Property is through an inspection by an appropriate professional selected by
you. If Broker gives you referrals to such professionals, Broker does not guarantee their performance. You may select any professional
of your choosing. In sales involving residential dwellings with no more than four units, Brokers have a duty to make a diligent visual
inspection of the accessible areas of the Property and to disclose the results of that inspection. However, as some Property defects or
conditions may not be discoverable from a visual inspection, it is possible Brokers are not aware of them. If you have entered into a
written agreement with a Broker, the specific terms of that agreement will determine the nature and extent of that Broker's duty to you.
YOU ARE STRONGLY ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF ALL ASPECTS OF THE PROPERTY. IF
YOU DO NOT DO SO, YOU ARE ACTING AGAINST THE ADVICE OF BROKERS.
E. YOU ARE ADVISED TO CONDUCT INVESTIGATIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE
FOLLOWING:
1. GENERAL CONDITION OF THE PROPERTY, IITS SYSTEMS AND COMPONENTS: Foundation, roof, plumbing, heating, air
conditioning, electrical, mechanical, security, pool/spa, other structural and non-structural systems and components, fixtures,
built-in appliances, any personal property included in the sale, and energy efficiency of the Property. (Structural engineers are best
suited to determine possible design or construction defects, and whether improvements are structurally sound.)
2. SOUARE FOOTAGE, AGE, BOUNDARIES: Square footage, room dimensions, lot size, age of improvements and boundaries. Any
numerical statements regarding these items are APPROXIMATIONS ONLY and have not been verified by Seller and cannot be
verified by Brokers. Fences, hedges, walls, retaining walls and other natural or constructed barriers or markers do not necessarily
identify true Property boundaries. (Professionals such as appraisers, architects, surveyors and civil engineers are best suited to
determine square footage, dimensions and boundaries of the Property.)
3. WOOD DESTROYING PESTS: Presence of, or conditions likely to lead to the presence of wood destroying pests and organisms
and other infestation or infection. Inspection reports covering these items can be separated into two sections: Section 1 identifies
areas where infestation or infection is evident. Section 2 identifies areas where there are conditions likely to lead to infestation or
infection. A registered structural pest control company is best suited to perform these inspections.
4. SOIL STABILITY: Existence of fill or compacted soil, expansive or contracting soil, susceptibility to slippage, settling or movement,
and the adequacy of drainage. (Geotechnical engineers are best suited to determine such conditions, causes and remedies.)
The copyright laws of the United States title 17 U.S. Code) forbid the
unauthorized reproduction of this form, or any portion thereof, by photocopy
machine or any other means, including facsimile or computerized formats.
Copyright ® 1991-2004, CALIFORNIA ASSOCIATION OF REALTORSS,
INC. ALL RIGHTS RESERVED.
BIA-A REVISED 10102 (PAGE 1 OF 2)
Agent: John Osbon a Phone: (760) 921.2121
Broker: CENTURY 21 Osborne Realty 41 Orauidla Ct Palm Desert
Buyer's Initials (X ( )
Seller's Initials (X_) (X )
121
Revrewed try Date p9pI"Von 1My
RY (BIA-A PAGE 1 OF 2)
Fax: (700) 922-4367 Prepared using zlpFormO software
42-050 Golden Eagle Lane
Property Address: pals D*ssrt, Ca 92260 Date:
5. ROOF: Present condition, age, leaks, and remaining useful life. (Roofing contractors are best suited to determine these conditions.)
S. POOL/SPA: Cracks, leaks or operational problems. (Pool contractors are best suited to determine these conditions.)
7. WASTE DISPOSAL: Type, size, adequacy, capacity and condition of sewer and septic systems and components, connection to
sewer, and applicable fees.
8. WATER AND UTILITES; WELL SYSTEMS AND COMPONENTS: Water and utility availability, use restrictions and costs. Water
quality, adequacy, condition, and performance of well systems and components.
0. ENVIRONMENTAL HAZARDS: Potential environmental hazards, including, but not limited to, asbestos, lead -based paint and other
lead contamination, radon, methane, other gases, fuel oil or chemical storage tanks, contaminated soil or water, hazardous waste,
waste disposal sites, electromagnetic fields, nuclear sources, and other substances, materials, products, or Conditions (including
mold (airborne, toxic or otherwise), fungus or similar contaminants). (For more information on these Items, you may consult an
appropriate professional or read the booklets "Environmental Hazards: A Guide for Homeowners, Buyers, Landlords and Tenants,"
'Protect Your Family From Lead in Your Home" or both.)
10. EARTHQUAKES AND FLOODING: Susceptibility of the Property to earthquakeiseismic hazards and propensity of the Property to
flood. (A Geologist or Geotechnlcal Engineer is best suited to provide information on these conditions.)
11. FIRE, HAZARD AND OTHER INSURANCE: The availability and cost of necessary or desired insurance may vary. The location of
the Property in a seismic, flood or fire hazard zone, and other conditions, such as the age of the Property and the claims history of
the Property and Buyer, may affect the availability and need for certain types of insurance. Buyer should explore insurance options
early as this information may affect other decisions, including the removal of loan and inspection contingencies. (An insurance agent
is best suited to provide information on these conditions.)
12. BUILDING PERMIT'S, ZONING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certificates, zoning, other
governmental limitations, restrictions, and requirements affecting the current or future use of the Property, its development or size.
(Such information is available from appropriate governmental agencies and private information providers. Brokers are not qualified to
review or interpret any such information.)
13. RENTAL PROPERTY RESTRIC11ONS: Some cities and counties impose restrictions that limit the amount of rent that can be
charged, the maximum number of occupants; and the tight of a landlord to terminate a tenancy. Deadbolt or other locks and security
systems for doors and windows, including window bars, should be examined to determine whether they satisfy legal requirements.
(Government agencies can provide information about these restrictions and other requirements.)
14. SECURITY AND SAFETY: State and local Law may require the installation of barriers, access alarms, self -latching mechanisms
and/or other measures to decrease the risk to children and other persons of existing swimming pools and hot tubs, as well as various
fire safety and other measures concerning other features of the Property. Compliance requirements differ from city to city and county
to county. Unless specifically agreed, the Property may not be in compliance with these requirements. (Local government agencies
can provide information about these restrictions and other requirements.)
15. NEIGHBORHOOD, AREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS: Neighborhood or area conditions, including
schools, proximity and adequacy of law enforcement, crime statistics, the proximity of registered felons or offenders, fire protection,
other govemment services, availability, adequacy and cost of any speed -wired, wireless Internet connections or other
telecommunications or other technology services and installations, proximity to commercial, industrial or agricultural activities,
existing and proposed transportation, construction and development that may affect noise, view, or traffic, airport noise, noise or odor
from any source, wild and domestic animals, other nuisances, hazards, or circumstances, protected species, wetland properties,
botanical diseases, historic or other governmentally protected sites or improvements, cemeteries, facilities and condition of common
areas of common interest subdivisions, and possible lack of compliance with any governing documents or Homeowners' Association
requirements, conditions and influences of significance to certain cultures and/or religions, and personal needs, requirements and
preferences of Buyer.
Buyer and Seller acknowledge and agree that Broker: (1) toes not decide what price Buyer should pay or Seger should accept (0) Does not
guarantee the condition of the Property; (Ilt) Does not guarantee the performance, adequacy or completeness of Inspections, services, products or
repairs provided or made by Seller or others; (Iv) Does not have an obligation to conduct an inspection of common areas or areas off the site of the
Property; (v) Shall not be responsible for identifying defects on the Property, in common areas, or offsite unless such defects are visually observable
by an inspection of reasonably accessible areas of the Property or are known to Broker; (vl) Shall not be responsible for inspecting public records or
permits conceming the title or use of Property; (vlq Shall not be responsible for identifying the location of boundary fines or other items affecting title;
(vIIQ Shall not be responsible for verifying square footage, representations of others or information contained in Investigation reports, Multiple Listing
Service, advertisements, flyers or other promotional material; (fx) Shall not be responsible for providing legal or tax advice regarding any aspect of a
transaction entered into by Buyer or Seller; and (x) Shall not be responsible for providing other advice or information that exceeds the knowledge,
education and experience required to perform real estate licensed activity. Buyer and Seller agree to seek legal, tax, insurance, title and other
desired assistance from appropriate professionals.
By signing below, Buyer and Seller each acknowledge that they have read, understand, accept and have received a Copy of
this Advisory. Buyer Is encouraged to reed It carefully.
x
Buyer Signature Date Buyer Signature Date
Boyers It'aaa~
Seller Signature Date Seller Signature Date
Palm Dr+sert Housing Authority
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORSO (CAR.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
This forth is available for use by the entire real estate industry. It is not intended to identify the user as a REALTORe. REALTOFM is a registered collective membership mark
which may be used only by members of the NATIONAL ASSOCIATION OF REALTORSO who subscribe to its Code of Ethics.
UPu "ESTATE
and Di7t10 by
REAL ESTATE BUSINEE SS SERVICES. INC. 2astAilayofJimWbrsAssaalaWotRE4LTOFSA ��edbf Date„ 525 So* Vk9I Awnoa, Lw AngsiW Csatomfs 00020 wratsrty
BIA-A REVISED 10/02 (PAGE 2 OF 2) BUYER'S INSPECTION ADVISORY (BIA-A PAGE 2 OF 2) Falcon Crest Drafl
j C A L I F 0 K N I A
ASSOCIATION
OF kEALTORS"
ADDENDUM
(C.A.R. Form ADM, Revised 4/12)
The following terms and conditions are hereby
0 tafarf Awttred Home Purchase Agreement. ❑
Agreement, ❑ Vacant Land Purchase Agreement.
Purdtase Agreement. ❑ Other
No. i
incorporated in and made a part of the: ® Residential Purchase Agreement.
Business Purchase Agreement. ❑ Residential Lease or hl Mh-Whlonth Rental
❑ Residential Income Property Purchase Agreement, ❑ Commercial Property
dated on property known as 42-NO Gok%n Eaey,Lane _
In which
and —
or
_ IS referred to as ('Buyer/Tenant`)
Is referred to as ('SefledLandlond").
�• .il• .�. . .�. y - t• T � '1•�'1- -1 �. • ;1•:" y•l 1: S1 i�/�.. .Y S' .
The foregoing terms and condid rls are hereby agreed to, and the undersigned acknowledge receipt of a copy of this document.
Date Date
Buyer/Tenant X
A Qualified buyer of lower
Buyerfronant
or moderate inoaets
Seller)Landlord X
Palm Desert Housing Authority
SetledLsixilord X
The o "YeM hot d do LWW SWn f T % 17 U.S. Cade) tabid fire uraullrorized Udt toe. « nwry ar gallon deol, by 0000W nwd« +ine anyrx odnream.
krdudkrp faaknft «aom mwind roman. Copfthe t9es-mm CALIFORNIA A� d OF REALT'ORW INC. ALL ROM RESERVED.
THIS FORM HAS SEEN APPROVED eY THE CALIFORNIA ASSOCIATION OF REALTORSfIt (CAR.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
AOEOUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER M THE PERSON OUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT MI APPROPRIATE PROFESSIONAL
Thb lam is awlebh br un by Oa wdke nM soft k keWy. it is not krhrrdtd b idwft Nor aver at a REALTOFW REALTORM is a fSWU nd 000ecYn rrrwrrbwship mwk
wMch mey be uwid orgy by . aft ra of On NATIONAL AS90CIATION OF REALTORS10 who tlbeorwe lob Code Of E#"
EALEMTESIONESSWYMOC
aa1M*1rydaCMeYAwIlredlEALn7R1
tRb Steele"hwmv. let Argrla, Cdb t 9= Ravhwsd by Deft
1121
ADY REVISED 1 12 (PAGE 1 OF 1)
ADDENDUM (ADM PAGE 1 OF 1
Agent: John Osborne PAons: (760) 921-2121 Fax: (760) 922-4387 Peeperod using ApForn* eollwra
titular: CENTURY 21 Osborne Realtv. 41 Orowlift Ct Palm Desert. CA 92260
NOTICE OF A PUBLIC HEARING
OF THE CITY OF PALM DESERT AND THE PALM DESERT HOUSING
AUTHORITY REGARDING THE PROPOSED APPROVAL OF A RESIDENTIAL
PURCHASE AND SALE AGREEMENT
NOTICE IS HEREBY GIVEN that the Palm Desert Housing Authority (the
"Authority") will hold a Public Hearing to consider the approval of the DRAFT
Residential Purchase and Sale Agreement (the "Purchase and Sale Agreement")
by and between the Authority, as seller, and a person or family of low or
moderate income, as buyer. The Purchase and Sale Agreement pertains to one
single-family residence owned by the Authority located at Falcon Crest as
follows:
■ 42-050 Golden Eagle Lane, Palm Desert, CA 92260
Said Public Hearing will be held as follows:
DATE: Thursday, January 8, 2015
TIME: 4:00 P.M.
PLACE: City of Palm Desert
Council Chambers
73-510 Fred Waring Drive
Palm Desert, California 92260
A copy of the Purchase and Sale Agreement is available for public inspection
and copying at a cost not to exceed the cost of duplication, at the Office of the
City Clerk, 73-510 Fred Waring Drive, Palm Desert, California 92260. All
interested persons wishing to be heard on the matter may be present and be
heard. Any written communications should be addressed to the Authority
Secretary.
Dated: December 18, 2014
RA HELLE D. KLASSEN, SE ETARY
PALM DESERT HOUSING AUTHORITY
C:tUserstgsancheztADPOatatlocalkMcrosohVWinoowslTemporary Internet FileslContent.Outlookl9XHl1HFCWObce of Public Heanng FC 21 01.05.15.00c
Sanchez, Gloria
From: Moeller, Charlene <CMOELLER@palmspri.gannett.com>
Sent: Thursday, December 18, 2014 4:53 PM
To: Sanchez, Gloria
Subject: RE: Legal Notice - PH 01/08/2015 FC 42-050 Golden Eagle Ln
Ad received and will publish on date(s) requested.
Charlene Moeller I Media Sales Legal Notice Coordinator
The Desert Sun Media Group
750 N. Gene Autry Trail, Palm Springs, CA 92262
t 760.778.4578 1 f 760.778.4528
leQals(a,thedesertsun.com / dpwlegals@thedesertsun.com
The Coachella Valley's #1 Source in News & Advertising!
www.DesertSun.com I twitter ' facebook Iiw.
This email and any files transmitted with it are confidential and intended for the individual to whom they
are addressed. If you have received this email in error, please notify the sender and delete the message
from your system
From: Psanchez@cityofpalmdesert.org[mailto:psanchez@cityofpalmdesert.org]
Sent: Thursday, December 18, 2014 4:39 PM
To: Email, TDS-Legals
Cc: pleon@cityofoalmdesert.ore
Subject: Legal Notice - PH 01/08/2015 FC 42-050 Golden Eagle Ln
I believe this may be the last notice for today.
PLEASE PUBLISH THE FOLLOWING:
NOTICE OF PUBLIC HEARING
Notice of Public Hearing of the City of Palm Desert and the Palm Desert Housing Authority Regarding
the Proposed Approval of a Residential Purchase and Sale Agreement for the Single-family Residence
Owned by the Authority Located at Falcon Crest — 42-050 Golden Eagle Lane, Palm Desert,
TWICE IN THE DESERT SUN
Friday, December 26, 2014
Friday, Janaury 2, 2015
If you have any questions or require additional information, please call me.
appreciate all you do. Thanks, Charlene!
M. 6;�L1CL_ Six*_,�