HomeMy WebLinkAboutRes 2013-11 and HA-49 - APN 624-441-007 CITY OF PALM DESERT /PALM DESERT HOUSING AUTHORITY
JOINT CONSIDERATION
STAFF REPORT
REQUEST: REQUEST FOR APPROVAL OF THE PROPOSED SALE OF THE
PROPERTY LOCATED AT 74537 KING FISHER CIRCLE (APN 624-
441-007), PALM DESERT (PURSUANT TO HEALTH AND SAFETY
CODE SECTION 33433(c)).
SUBMITTED BY: Janet Moore, Director of Housing
DATE: February 14, 2013
CONTENTS: City Resolution No. 2013- 11
Housing Authority Resolution No. HA-49
Draft Purchase and Sale Agreement
Recommendation
That the City Council,
1. Waive further reading and adopt Resolution No. 2013- 11 confirming that
the authorization or the former Palm Desert Redevelopment Agency (the
"Agency") to sell small housing projects pursuant to Health and Safety Code
Section 33433(c) transferred to the Palm Desert Housing Authority as the
successor to the former Palm Desert Redevelopment Agency's housing
functions and assets.
That the City Council and Authority Board,
2. Conduct a public hearing and accept testimony on the proposed sale of the
property located at 74537 King Fisher Circle, (APN 624-441-007), to a
qualified household of low or moderate income; and
3. Following public testimony, close the public hearing, and request that the
Authority Board waive further reading and adopt Resolution No. HA-49
approving the sale of the property pursuant to the attached draft Purchase
and Sale Agreement.
By Minute Motion, that the City Council and Authority Board,
4. Approve silent homebuyer assistance loans in amounts that do not exceed
$80,000 in total to ensure an affordable housing cost from any available
funding source restricted for such purpose (BEGIN, Housing Mitigation,
Agency/Housing Authority program income); and
5. 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
Staff Report
Public Hearing 74537 King Fisher Circle (APN 624-441-007)
February 14, 2013
Page 2 of 2
6. Authorize the use of the Falcon Crest sales program and documents
including the restrictive covenant and loan doeuments for the applicable
funding source, in their substantial form, understanding that references will be
changed as necessary to the Authority; and
7. Authorize the Authority's Executive Director or his designee to finalize and
execute the Purchase and Sales Agreement and any ancillary documents
necessary to effectuate the sale and actions taken herewith.
Backqround
On November 6, 2006, the City of Palm Desert ("City") and the former Palm Desert
Redevelopment Agency ("Agency") approved the initial sale of ninety-three (93) three and
four bedroom single-family homes located in the Falcon Crest Development ("Falcon Crest")
to households of low and moderate income.
When an owner decides to sell, staff attempts to coordinate a direct sale from the owner to
a new purchaser from a waitlist, however, during 2010 and 2011 there were no eligible
households on the waitlist for Falcon Crest. Because of this, the Agency purchased most of
the houses that became available for sale in order to preserve the affordability covenant
and the Agency's additional investments in the home.
With the Governor's enactment of ABX1 26 and AB 1484 redevelopment agencies were
effectively eliminated on February 1, 2012. The legislation prohibited agencies from entering
into any new agreements, contracts, debts, loans, etc. which included the Agency's ability to
purchase any additional properties or to sell any of the homes that were acquired.
On February 9, 2012, the City adopted Resolution No. 2012-07 designating the Palm Desert
Housing Authority ("Housing Authority") as the successor housing entity for all housing
activities formerly completed by both the Agency and Housing Authority. On October 11,
2012, the Housing Authority Board accepted the housing functions and assets transferred
pursuant to Resolution No. HA-47.
The Housing Authority is proposing to sell a single-family residence located at 74537 King
Fisher Circle in the Falcon Crest Development (the "Property") 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).
The property meets the definition of a small housing project in that the Housing Authority
will only sell the property to qualified households (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
G:IHOUSINGIPffity Leon1JMMlstaff repoM1IHOUSING AUTHORITYIHA-Cily 33433(c)Public Hearing 74537 King Fisher Cir 2•1413.da
Staff Report
Public Hearing 74537 King Fisher Circle (APN 624-441-007)
February 14, 2013
Page 3 of 2
Health and Safety Code Section 33431. Pursuant to Section 33431, notice of a public
hearing on the proposed sale of the property was published once a week for finro successive
weeks in the Desert Sun.
When a qualified buyer is identified, 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 loans. 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 loans will
vary for each transaction and will depend on the qualifying income and buyer criteria. The
combined loans will not exceed $80,000 which is the same amount of the original sales
program.
Staff recommends that (i) the City Council confirm 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 successor to the former Agency's housing functions
and assets, and (ii) the City Council and the Housing Authority Board, jointly hold a public
hearing on the proposed sale of the property and approve the sale of the property to
qualified household pursuant to the terms of the Purchase and Sale Agreement presented
to the Housing Authority at this meeting and approve silent homebuyer assistance loans not
to exceed $80,000 to ensure an affordable housing cost from any available funding source
restricted for such purpose.
Fiscal Analvsis
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 wi reduce the monthly costs
associated with maintaining the inventory.
S itted by: Finance/D artment:
�,.(�(,
1
M. Moore, Director of Housing Paul Gi on, Director of Finance
;.ap ov : COUNCIL�ION
APPROVED nF,NtFD _
�J��/�---/ I�CEIVED _ TH R
I/ I�tS �C�.
.�\ �
City ManageNExecutive Director MEET G DATE - - �r ,
J n . Wohlmuth, AYES:
NOES:
ABSENT:
ABSTAIN:
VERtFIED BY:
Original on File with City lerk's Office
G:IHOUSING1Patty LeonWMMlstaff reportlHOUSING AUTHORITYIHA-City 33433(c)Public Hearing 74537 King Fisher Cir 2-1413.doc
RESOLUTION NO. 2013- 11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT AUTHORIZING THE PALM DESERT HOUSING AUTHORITY
TO SELL OR LEASE SMALL HOUSING PROJ�CTS PURSUANT TO
HEALTH AND SAFETY CODE SECTION 33433(c)
RECITALS:
A. By its Resolution No. 03-34, the City Council authorized the former Palm
Desert Redevelopment Agency (the "Agency") to sell small housing projects, as that
term is defined in Health and Safety Code Section 33013, pursuant to Health and Safety
Code Section 33433(c).
B. Pursuant to Health and Safety Code Section 34175(b) and the California
Supreme Court's decision in California Redevelopment Association, et al. v. Ana
Matosantos, et al. (53 Cal.4th 231(2011)), 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.
C. Pursuant to Health and Safety Code Section 34176(b), the City Council of
the City of Palm Desert (the "City") adopted Resolution No. 2007-07 electing for the City
not to retain the housing functions previously performed by the former Agency, and
determining that all of the assets, as allowed by law, and all rights, powers, liabilities,
duties, and obligations associated with the housing activities of the former Agency be
transferred from the Successor Agency to the Palm Desert Housing Authority (the
"Housing Authority").
D. By its Resolution No. HA-47, the Housing Authority accepted the housing
functions and assets of the former Agency.
E. The City Council desires to confirm 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.
THE CITY COUNCIL OF THE CITY OF PALM DESERT HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. From time to time, the Housing Authority may desire to sell or lease
a small housing project.
Section 2. The City Council hereby confirms 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 and that the City Council authorizes the Housing Authority
-1-
12812-0001\1528503v1.doc G:WOUSIN�Watty Leon1JMM�slatl reporllRESOLUTIONSICity Coundl resolWon on small housing projecls 2-1413.doc
RESOLUTION NO. 2013- 11
to sell or lease small housing projects pursuant to Health and Safety Code Section
33433(c) if, prior to such sale or lease, the Housing Authority holds a public hearing
pursuant to Health and Safety Code Section 33431. The City Council hereby finds and
declares that subdivisions (a) and (b) of Health and Safety Code Section 33433 shall
not apply to such sales or leases of small housing projects.
Section 3. In the event the Housing Authority sells or leases a small housing
project pursuant to Health and Safety Code Section 33433(c), the Housing Authority is
hereby directed, within 30 days after the end of the Housing Authority's fiscal year in
which the sale or lease occurs, to file a report with the City Council which discloses the
name of the buyer or lessee, the legal description or street address of the property, the
date of the sale or lease, the consideration for which the property was sold or leased by
the Housing Authority to the buyer or lessee and the date on which the Housing
Authority held its public hearing for the sale or lease pursuant to Health and Safety
Code Section 33431.
PASSED, APPROVED AND ADOPTED this 14TH day of FEBRUARY 2013 by
the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAN C. HARNIK, CHAIRMAN
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT CALIFORNIA
_2_
12812-0001\1528503v1.doc G:WOUSING1Patry LeonWMMlstaN reporllRESOLUTI0NS1City Counal resolufion on small housing projects 2-14-13.doc
RESOLUTION NO. HA - t+9
A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY
APPROVING A 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 residential structure located at 74537 King
Fisher Circle in the City of Palm Desert, California (the "Property"). The Housing Authority
proposes to sell the Property to a qualifying person or household of low or moderate
income pursuant to the draft purchase and sale agreement(the"Agreement") 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)and as referenced in Section
3 herein, the Housing Authority is the successor housing entity for all housing activities
formerly completed by the Agency.
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.
-1-
RESOLUTION NO. HA - 49
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 Property
qualify as a "small housing project" as that term is defined in Health and Safety Code
33013.
Section 10. 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 14TH day of FEBRUARY 2013 by the
following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAN C.HARNIK, CHAIRMAN
ATTEST:
RACHELLE D. KLASSEN, SECRETARY
PALM DESERT HOUSING AUTHORITY
-2-
CALIFORNIA
; c n L i F o R N t A �SlDENTIAL PURCHASE AGREEMENT
�� A S S O C 1 A T I O N AMD JOlNT ESCROW INSTRUCTIONS
U F R E A L T C�R 5�' For Uee 1Aittlf Single Family Rea�denUal Properly—Attached or Detached
(C.A.R.Form RPA-CA,Reviaed 4l10)
Date February 14,2013
1. OFFER:
A. THI51S AN OFFER FROM A 4yalified bUyer of low or moderate income
("Buyer").
B. THE REAL PROPERTY TO BE ACLiU1RED is described as 74537 Kina Fisher Cir. Palm Desert. CA 92260
,Assessor's Parcel No. B24441007 ,situated in
Pa/m Desert ,County of Riversfds ,Catifomia,("Property").
C. THE PURCHASE PRICE offered is T�p I�undred Twenfv-Five Thousand
(Dollars$ 225.000.00 ).
D. CLOSE OF ESCRflW shall occur on 60 days or sooner (date)(or� Days After Acceptance).
2. AGENCY:
A. DfSCL03URE: Buyer and Seller each adcnowledge prior receipt of a "DisGosure Regarding Real Estate Agency Relationships"
(C.A.R.Fortn AD).
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt of a disclosure of the possibility of
muftiple representation by the Broker representing that principal. This disclosure may be part of a listing agreement, buyer representation
agreement or separate document (C.A.R. Fortn DA). Buyer understands that Broker representlng Buyer may also represent other potential
buyers, who may conaider, make offers on or ultimately acquire the Property. Seller understands that Broker representing Seller may also
represent other sellers with competing properties of irrterest to this Buyer.
C. CONFIRMATION:The foilowing agenc�arejlmah�sseri'nOUS/�g�uido�this transaction:
Listing Agent (Print Firm Name)is the agent
of(check one): �the Seller exclusively;or�both the Buyer and Selfer.
Selling Agent (Print Firm Name)(if not the same as the
LisGng Agent)is the ageM of(cheCk one): �the Buyer exGusively;or �the Seller exciusively;or Q both the Buyer and Seller. Real Estate
Brokers are not parties to thz Agreement between Buyer and Seller.
3. FINANCE TERMS:Buyer represents that funds wiil be good when deposited with Escrow Hoider.
A. INITIAL�POSIT:Deposit shail be in the amount of .......... ..... ....... .......... ............ .... .. .$ TSD
(1) Buyer shall deliver deposit directly to Escrow Holder by personal check, []electronic funds transfer,� Other
within 8 busi�ess days after acceptance(or�Other );
OR(T)(If checked)Q Buyer has given the deposit by personai check(or � )
to the agent submitting the offer(or to� j,
made payable to .The deposit shall be held
uncashed until Acceptance and then deposited with Escrow Hoider(or �into Broker's Vust account) within 3
business days after Acceptance(or�Other j.
B. INCREASED DEPOSIT:Buyer shall deposit with Escrow Holder an increased deposit in the amount oP . . . . . . . .. . . $
within Days After Acceptance,or�
If a liquidated damages clause is incorporated into this Agreement, Buyer and Seiler shaii sign a separate
liquidated damages clause{C.A.R.Form RID)for any increased deposit at the time it is deposited.
C. LOAN(S):
(1) FIRST LOAN:in the amount of... ..... ...... ........ ................... ........... . ......... ...$ TBD
This loan will be conventional financing or, if checked, � FHA,Q 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,0 an adjustable rate loan with initial rate not to exceed %.
Regardleas of the type of loan,Buyer shall pay points not to exceed %of the toan amount.
(z) �SECOND LOAN:in the amount of.... ... .. .................... .... ................ ... ... . .... $ TBD
This loan wiil be conventional financing or, if ctiecked, �Seller(C.A.R. Form SFA), �assumed financing
(C.A.R.Form PAA), �Other See 3.D .This loan shali 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 °k of the loan amount.
(3) FHANA:For any FHA or VA loan specified above,Buyer has 17(or� )Days After Acceptance
to Deliver to Seller written notice (C.A.R. Fortn FVA) of any lender-required nepairs or costs that Buyer
requests Seller to pay for or repaic Selter has no obligation to pay for repairs or satisfy Iender requirements
unless othervvise agreed in writing.
D. ADDITIONAL FINANCING TERMS: Pa/m Desert Housing Authority and City of Palm Desert may
down Aayment assistance,provi uyer pua ' es.
E. BAIANCE OF PURCHASE PRICE OR DOWN PAYMENT:in the amount of... .. ... ... ..... ..... ........ ...$ TBD
to be deposited with Escrow tiolder within sufficient time to ciose escrow.
F. PURCHASE PRICE{TOTAL): ....... ... ... .............. . ... .... .................... ...... ..,.....$ 225.000.00
Buye�'s Initials(� �� ) Seller's Initials( �{ � /, �1\
The copyright taws of C�e U�Rad Stetes(Titie 77 U.S.Codo)forbid the uneuUmrked reproduqion of this tam,or `�
srry poAion thereof,Dy photocopy mad�q�e or any other means.imm;ludinp hcsimiie or compNerized fortnats. om�uu�eaisrTic
Copyripht O 1991-2010,CALIFORNIA ASSOCIATION OF REALTORS�,INC.ALL RIGN1'S RESERVED. �
RPA-CA REVISED 4/10(PAGE 1 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 1 OF 8)
Agent: Phone: Fax:
Broker:
74637 King Fisher Cir Februa 14 2013
Property Address: Patm DeS@f`t, CA 9Z260 Da#e: rY �
G. VERlFiCAT10N OF DOVYN PAYMEMT AND CLOSIAti COS7'�: 8uyer(or Buyer's lender or faan 6roker pursuaM to 3H(1))shall,within 7(or
❑ ) Days After Accephance, Deliver to Selfer written verification of Buye�"s dovm �yment and ciosing co�s. (If checked,�
verification attac�ted.}
H. LOAN TERM$:
{1) LOAN APPLiCATION8:Wdhin 7(or� ) Days After Aa:eptance, Buyer sha11 Deliver to Seller a letter from lender or ban
broker steting that,based on a reviea��vv of Buyer's writien ap�ication and credft report,Suyer is prequalified or preapproved for any NEW loan
speafied in 3C above.(if checked,Q letter attached.)
(2) LOAN CCNTINtiENCY: Buyer sfiaU act diligeryNy�nd 'm good faith to obtain the designated loan{s).Obtaining the loan(s)speoified above
Is a contittq�e�ey of this Agreemenf unless othervrise agreed in writing.Buyers conYractua!ol�igations to ot�ain and provide deposit,balance
of rJown payme�rt and cbsing costs are not contUrpenaies of this AgreemeM.
(3) LOAN CWdTINGENCY REMOVAL:
�i� VVithin 17(or� )DAys Aftar Axeptance,Buyer shaii,aa speoified in paragraph 14,in wrifing remave the loan contingency
or canc•xl this Agreemer�t;
OR(fn (if checked) ❑the loan contingency shali remain in etfed until the designated loans are funded.
(41 0 NO LOAN CQNTINfiENCY(If checked):dbtaining any ban specified a6ove is N4T a contingency of this Agreement. If Buyer does not
obtain the loan and as a resuk Buyer does not purchase khe Property,Seller may be errtiUed to Buyes's deposft or other legal remedies.
I. APPRAl8J1L CCNTINGENCY AND REMOVAL:This Agreement is(or,'rf checked,�is NO�corrtingent upon a written appraisal of the Property
by a fi�r�sed or certified appraiser at no less thart tfle speafied purdTase price. If there is a toan cantingency, Buyer's removal of the loan
contingency shall be deemed removal of this appraisal contingency (or, � if checked,Buyer shall,as speafied in{�ragraph 14B(3),in writing
remove the ap{xaaal coMingency or cancel this Agreement within 17(or )DAys After Acceptance).If there is no ban contingency,
Buyer shall,as specified in paregraph 14B(3),in writing remove the appraisal contingency or cancel this Agreement within 17�or �
Days After Atx�ptanoe.
J. [j ALL CA8H QFFER(If checked):Buyer shall,within 7(or� � Days After Acceptance, Deliver to Seller written verifuxtion of
sufficierrt furrds to cf�se this transaction.(If checked, �verification attached.j
K. BUYER STATED FINANCING: Setler has re6ed on Buyers representation of the type of financing specified (including but not limited to, as
applicable,amount of down payment,contingent or nan confingeirt loan,or all cash).lf Buyer seeks atternate financing,(i)Seller has no obliga6on
to cooperate writh Buyet's efforts to ohtain such fmanang, and (ii) Buyer shall also pursue the financing method specified in this Agreement.
Buyer's failure to secure altemate fmancing does not excuse Buyer from the obligation to purchase the Property and close escrow as speafied in
this Agreemetrt.
4. ALLOCA7IQN OF COST${If checked):Unless otherwise specafied in writing,thls paragraph onty determines who is to pay tor the inspection,test or
service("Report"}meMioned;it do�s mat determirie who is to psiy for any work reeommended or icieMifled in the Re�ort.
A. INSPECTIONS ANQ RERORT8:
(1) 0 Buyer�Seller shall pay for an inspection and report for wood destroying pests and organiams ("Wood Pest Report"j prepared by
Se1lers Chofca a registered structural pest corrtrol company.
(2) �Buyer�Seller shall pay to have sepRic or private sewage disposal systems pumped and inspected
(3) 0 Buyer Q Setler shall pay io have domestic wells tested for water potability and produdivi�+
(4) �Buyer�Seller shall pay for a naturel hazard zone discbsure report prepared by FI/5t AI11@ can or rm ar
(5)�Buyer 0 Selter ahall pay forthe following inspection or report Home/nsvectfo� ReDort
(S) �Buyer 0 Seller shall pay fo�the following inspection or report
B. GOVERNMENT REQUIREIVI�NT8 AND RETROFIT:
(1) �Buyer�Seller shall pay for smoke detector installafion and/or water heater braang,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 cond'Rion of Gosing escrow under any Law,
G. E8CitOW AND TITL.E:
(1) �Buyrer�Seller shall pay escrow fee Each to nav hialhe� owrt
EsRxow Holder shatl be Foresite Escrow
{2) �Buyer�Seller shall pay for owner's title insurance policy specified in paragraph 12E
Owner's#itle policy to be issued by First American TitiJe
(Buyer shall pay for any title insurance policy insuring Buyer's lander,unless otherwise agreed in writing.)
D. OTHER COST8:
(7) �Buyer�Seller shall pay Cour�ty transfer tax or fee
(2) 0 Buyer Q Seller shall pay City transfer tax or fee
(3) �Buyer�Seller shall pay Homeowners Association("HOA")transfer fee
�4) �Buyer�Selter shall pay HOA document preparation fees Related es
(6) Q Buyer�SeNer shall�y for any private transfer fee
(6) �Buyer�Seller shall pay the cost,not to exceed$ 35D.00 ,of a or�e-year home warranty plan,
is�uer�by Amer3can Homs Shie/d ,witfi the following o�ional coverages:
�Air Conditioner�Pooi/Spa 0 Coc�and Permit upgrade �Other: AADIi��CBS
Buyer is inkormed that home warranty plans have many optionat coverages in addition to those Iisted above. Buyer is advised to irnestigate
these aoverages to determine those that may be suiYable for Buyar.
(7) �Buyer�SeUer sha8 pay for
(8) Q Buyer Q Seller shall pay for
Buyer's Initials(�)( ) Seller's Initials( )( )
CopyngM�1991-2010,CACIFZSkNIA ASSOCIATION OF REALTOR9A,INC. �
RPA-CA REVI3ED 4l10(PAQE 2 OF 8) R���bY Date o�rv"��Tw��Y
CAUFORNIA RESiDENT1/1L PURCHA8E AGREEMEHT(RPA-CA PAGE 2 OF 8}
T4537 King Fisher Cir
Properry Address: Pa/m l�ssert. CA 9226D Date: February 14,2D13
b. CL031NG AND POSSESSiON:
A Buyer intends{or 0 dces not intend)to occupy die i'roxserty as Buyer's{ximary residence.
B. Seller-occupied a vacant property:Possession shail be delivered to Buyer at 5 PM or(� �AM�PAA),on the date of Gose
df Escrow; �on ;or 0 no later tMan Days After Gose Of E.�row.if transfer of title
and possession do not oceur at the same time,Buyer and Seller are advised to:(n enter into a written accupancy agreemefrt(C.A R.Form PAA,
paragraph 2);and(if)consult wnth their insurance end legal advisors.
C. Tena�-occupied property:
(1}Propetty shall be vaoaM aY teast b(or � )Days Prior to Gose 4f Escrow,ur�ess othervvise agreed in writing.Nate to Sellar:
Ii you are unabfe to delhrer Property vaoant io accordance with rent oontrol and other appiicable Law,you may be in breach of thls
Agteement.
OR((q(if chedced)Q Tenartt�o ramaln in possessiot�.(C.AR.Form PAA,paragrap!►3)
D. At Close df Es�row,(i)Seiler assigns to Buyer any assignable wanartty rights for items included in the sale,and(il)Seller sha8 Deliver to Buyer
availabie Gopies of warrarrties.Brokers cann�and will not determine the assignabiliiy of arry warranties.
E. At Close Oi Escrowr,unless oth�rovise agreed in wrfing,Sellar shall provi�keys and/or means to operate alf locks,maifboxes,security systems,
alarms and garage door openers. If Property is a condominium or lacated irt a common iMerest subdivision, Buyer may be required to pay a
deposit to the Hameovmers`Association(°HOA')to obtain keys to accessiWe HOA fadlities.
g. STATUTORY DlSCL08URE8(INGLUOING LEAD-BASEQ RAINT HAZARO DISGLOSURES)AND CANCELLAI7GN RIGHTS:
A (1) Seller shail,within the time specified in paragraph 14,A,Deliver to Buyer,if required by Law:(I)Federal Lead-Based PaiM Disclasures(C.A.R.
Form FLD)and pamphlet("Lead Disdosures");and{il)�sdosures or notices required by sectior►s 1402 et.seq.and 1103 et.seq. of the Civil
Code{"Statutory Disdosures"). Statutory Diselosures indude, but are not Iimited ta, a Real Estate Transfer Disclosure Statement("TDS"),
Netural Ftazard Disdosure Statement("NHD"), notice w actual knc�wledge of release of illegal contrdted substance, notice of speaal tax
andlor a&sessmerrts(or,if allowed,substantially equivaleM notice regardi�g the Mello-Roos Commumty Faalities Act and Improvement Bond
Act of 1915)and,if Seller has adual knowledge,of industrial use and mii�ry ordinance tocation(G.A.R.Fam SPQ or SSD).
(2) Buyer shall,witMin the time specified in paragraph 14B{1),return Signed Copies of the Statutory and Lead Disdosures to Seller.
(3) In the event Seller, ptior t4 Clase Of Escrow, becomes avware of adverse condtions materially affeding the Property, or any material
inaccuracy in disdosures, information or represerrtaAons previously provided to Suyer, Seller shall prompUy provide a subsequent or
amended c6sdosure or nodce,in writing,covering U�ose items.However,a subsequent�amet�ded dlsclosure shall not be raquired tor
conditions and maberial in�raeies of which Buyer is othervvise aware,or which are disatosed in raports�ovided to or obtalned by
Buyer or on�ered and pald iw by Buyer.
(4� If any�sdasura or notice specifred in Bp(1),or subsequent or amended dscl�ure or notice is Detivered to Buyer after the offer is Signed,
Buyer shall have the right to cancel this Agreement within 3 Days After Delivery in person,or 6 Days After Delivery by deposk in the mail,by
giving written natice of qnceltation to Seller or Sefler's agent.
(� Note to Buyar and Se11er:Walver at Statutory a�Le�d Disolosures is proMbibed 6y Law.
B. NATURAL AND ENVlROI�pIAENTAL HAZARD8:Nhthin the time specified in paragraph 14A, Seller shall, if required by Law: (t)Deliver to Buyer
earthquake guides(and questionnaire)and environmerrtal hazards booidet;(ii)even if exempt from the obligation to pravirle a NHD, disGose'rf
the Property is located in a Special Flood Hazard Area; Potential Floockng (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earthquake Fault Zone;Seismic Hazard Zone; and{8i)disdose any other Zone�required by Law and provide any other
information required for those zones.
C. WITHHOLDING TAXES: Within the time specifisd in paragraph 14A, to avad required withhdding, Seller shall Deliver to Buyer or qualified
su6stitute,an affidavit suffiaent to comply with federal(FIRPTA)and Califomia withholding Law,(C.AR.Form AS or QS).
D. MECiAN'S LAW DATABASE D13CLOSURE: Notice: Pursuant to Section 290.48 of the Penal Code,information about specified registered sex
offenders is made available to the public via an Internet Web site maintained by the Depertment of Justice at www.meganslaw.ca.gov. Dependng
on an offender's criminal history,this infwmation will indude either the address at which the offender resides or the cammuniiy of residence and
ZIP Code in which he or she resides. (Neither Seller nor Brokers are required to check this wetrsite. If Buyer warrts 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.)
7. CONDOMINIUMlPLANNEO DEYELOPMENT DISCLOSURE3:
A. SELLER HAS: 7(or[� )Days After Acceptance to disdose to Buyer whether the Property is a condominium,or is located in a
planned devetopment or ot er�mmon interest subcbvision{C.A.R.Form SPQ or SSD).
B. If the Property is a condominium or is located in a planned development or other common interest subdivision,Seller has 3(or� )
Days After Acceptance to request from the HOA(C.AR. Form HOA): (ij Copies of any documeMs required by Law,(11)disdosure ano��ng
or ar�tiapated daim or litigation by or against the HOA; (Ifi�a statemeM containing the Iocation and number of designated parking and storage
spaces;(Iv)Copies of tfie most recerrt 12 months of HOA minutes for regular and speaal meetings;and{v)the names and contact information of�
all HOAs governing the Property(collecUvely,"CI Qisclosures"j.Seller shall itemize and Deliver to Buyer all CI Disclosures received from the HOA
and any GI Disdosures in Seller's possession. Buyer's approval of CI Disciosures is a contingency of this Agreemerrt as speafied in paragraph
146(3).
8. ITEMS INCLUDED IN AND EXCLUDED FROM PURCHASE PRICE:
A NOTE TO BUYER AND SELLER:Items listed as i�cluded or exduded in the MLS,flyers or marketing materials are not induded in the purchase
pri�or excluded from the sale unless specified in 88 or C.
B. ITEN13 INCLUDED IN 3ALE:
(1) Alt EXISTING fixtures and fittings that are attached to the Properky;
(2) EXI5T►NG electrical, mechanical, ligfiting, plumbing and heaiing fiutures, ceiling fans,fireplace inserts, �s logs and grates, solar systems,
built-in appliances,window and door screens, awnings, shutters, window coverings, attached floor coverings,ielevision antennas, satellite
c9shes, private integraYed telephone systems, air coalers/conditioners, pool/spa equipment, garage door openerslremote controls, mailbox,
in-ground lan�caping,trees/shrubs,water softeners,water purifiers,securi#y systems/alarms;(If cfiecked�stove{s}, �refrigerator(s);and
(3) The following add'itional items: SOIa�SVste►�f
{4) SeUer represents that ail Rems induded in the purchase price,uniess otherwise specified,are owned t3y SeAer.
(6) All ftems inciuded shall be transferred free of liens and withoat Seller warranly.
C. ITEMS EXC�UDED FROM SALE:Untess othervvise specified,audio and video camponents(such as flat screen Ns and speakers)are exduded
ff any such item is not itself aitached to the Property,even if a bracket or other mechanism attached to the component is attached to the Property;
and
Buyer's Initials( j( ) Seller's Initials( )( ) �
Copyripht�1991-2010,CIffiFURNIA ASSOCIATION OF REALTORS�,INC. �
RPA-CA R$VISED 4/1Q{PAGE 3 OF 8) R���bY Date c�wvu�t�x
CALlFORNlA RESIDENTIAL PURCtiASE AGREEMENT(RPA�A PAt3E 3 OF 8)
74637 King Fisher Cir
Property Address: P�lm DesB�t. CA 92260 Date: Fe6ruary 14,2013
8. CONDITlON OF PROPERTY:Unless othenaise agreetl:(q the Propsrty is soid(a)M its PRESENT phy�c,ail�"as-Is"�condflbn as of tho ds�te of
Acc$pt�nce and(b)subject ba Buyer's lr�vesti�ation ri4hts;(fl)the Prope+ty,including pool,spe,1a�ping and grounds,is to be maintained in
substantially the same condition as on the date of Acceptance;and(!il)ail debris arTd persor�ai property rx�t included in the sale shall be removed by
SeUer by Ciose Of Escrow.
A. Seller shall,within the iime specified in paragraph 14A,DISCLOSE KN0IJVM MATERIAt FACTS AND DEFECTS afFeciing the Property,inciuding
known insurance dairtis within ihe past five years,and make any and all other disclosures required by lawr.
B. Buyer has tMe right to inspect the Praperty and,as apecified in paragraph 146,based upon information discavered in those inspections:{i)cancel
th�Agr�ment;or(i}request4hat SeNer make Repairs or take oiher action.
C. 8uyer is�rongty advised to conduct investigations o}tha enti�e Property 1n order!o detsmtina its pr:sent condition.Sell.r may not be
aware of aU detects af�ectinp the Property or othen c�bors that Buyer+cunsiden important. Prop�ty Nnprovems�rts may not be buNi
aacardinq W code,In compllancs wlth aurrent Law,or have had p�rmils issued.
10.BUYER'$IN{fE371CiAT10N t3F PROPERTY pMD MATfER9 AFFEGTIN6 PROPEi�tTY:
A. BuyePs acoeptance ot the condiUon o(, and ar�y othar matter affectinng the Property, is a t;ontingency of this Agreement as speafied in this
paragraph and peragraph 14B.Within the time specified in peragraph 148(1), Buyer shall have the right,at Buyer's ezpens�a unless othervvise
ag►eed,to canducf inspections,irnestigations,tests,surveys and other shulies("Buyer Investagations"),including, but not lim�ed to,the right to:
p� inspect hrr lead-based pairtt and other lead-based paint hazar�; (II) irtspect fur wood destroying pests and organisms; (ill) review the
registered sex offender database;(iv)confirm the ifrsurability of Buyer and the Property;and(v�satisfy Buyer as to ariy matter specified in the
attached Buye�'s Inspection Advisury(C.A.R.Form BIA).Without Seiler's prior written cor�M,Buyer shall neither make nor cause to be made:(I}
invasive or destrudive Buyer Inve�igations;or{II)inspedions by any govemmentai building or mning inspector or govemmenf employee,unless
reqaired by Law.
B. Selfer sha11 make the Property avail�ble#or afl Buyer Inve�igations. Buyer shafl(I)as specified in paragraph 148,complete Buyer Irnestigations
and,either remove the contingency or cancel this Agreemerrt,and(iF)give Seller,at no aost,complete Copies of all Investigation reports obtained
by Buyer,wtrich obligatan shall s►uvive the termination of this Agreement.
C. Seller shall t�ve water, gas, eledricity and att operable pilot lights on for Buyer's Investigations and through the date possession is made
avaifable to Buyer.
D. BuyQr indamnity aed Seller proteeNon for entry upon praparty:Buyer shalL•(i)keep the Property free and dear of i�ns;(il)repair all damage
arising from Buyer Inve�igeNans;end(tii)indemnify and hdd Seller harmless irom all resutting Cabitity,c,�ims,demands,damages and�shs of
Buyer's irnestigations. Buyer shall carry, ar Buyer shaH require anyor� acting on Buyer's behaH to carry, policies of iiability, workers'
compensation and other applir.�ble insurance,defendmg and pratecting Seller from fiability for any injuries to persons or property ocwming during
any Buyer Irnestigations or vrork done on tltie Property at Buyer's direction prior to Cto9e Of Escrow.Seller is advised that ceRain protections mey
be affarded Seller by recording a"Notice of Non-responsibility"(C.A.R. Form NNR) for Buyer InvesU,qations and work done on the Property at
BuyePs direction.Buyer's o6ligations under this paragra�shall surv'we the termination or cancellation of this Agreement and Close of Escrow.
11.8El.LER DISCLO8URES;ADDENdA;AQ11180RfE8;OTHER TERMS:
A. Seller Dis+closures(if ohecakvc!):Seller shall,within the time speafied in paraqraph 14A,complete and pravide Buyer with a:
�Selkr Pra Questionnaire C.A.R.Form SPQ OR ❑Su emental Cor�tradual and Statuta Disclosure G.A.R.Form SSD
B. Addenda(if eheaked): Addendum#1 (C.A.R.Form ADM)
Wood Destroyinp Pest Inspection and Allocation of Cost Addernium(C.A.R.Form WPA)
❑Purchase AgreemeM Rddendum{C.A.R Form PAA) ❑Septic,Well and Propert�Monument Adde�dum C.A.R.Form SWPp
❑Short 5ale Adde�dum{C.A.R.FoRn SSA) Other
C. Advisofiss(if checked): �Buyer's Inspec�ion Advisory(C.A.R.Form BIA1
❑Probate Advisory(C.A.R.Form PAIq ❑Statewide Buyer and Seller Advisory(C.A.R.Form SBSA)
❑Trust Advisory(C.A.R.Form TA) REO Advisory{C.A.R.Form REO)
D. Other Terms:
12.TITLE AND VE8TING:
A. Within the time specified in paragraph 14, Buyer shall be provided a current preliminary title rep�rt,which shall indude a search of the General
Index. Seller shall wAhin 7 Days After Acceptance give Escrow Holder a completed Statement of Informetion. The preliminary report is only a�
offer by the title inaurer to issue a policy of title insurance and may not contain every item afiecting title. Buyer's review of the preliminary report
and any other matters which may affect tiHe are a contingency of this Agreement as apec�ed in paragraph 148.
B. Title is taken in its present condition subject to alI encumbrances, easements, covenants, conditions, restrictions, rights and other matters,
whether of reaord or not,as of the date of Acceptance except:(i)monetary liens of reoord 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. Vlfithin the time specified in paragraph 14A,Seller has a duty to disclose to Buyer all matters Imown to Seller affecting title,whether of record or
not.
D. At Close Of Escrow, Buyer shall receive a gra�t deed conveying title (or, for stock cooperative or iong-term lease, an assignment of stock
certificate or of Sellers leasehold interest), including oil, mineral arnf water rights if currently owrred by Seller. Title shall vest as designated in
Buyers supplemer�Lal escrow iRstructions.THE MANNER OF TAKING TlTLE MAY HAVf SIGNIFICANT LEGAL AND TAX CONSEQUENCES.
CONSULT AN APPROPRtATE PROFESSlONAL.
E. Buyer shall recenre a CLTA/ALTA Homeowners PoGcy of Titte Insurance.A title company,at Buyers request,can provide information about the
availability, desirability, coverage, �urvey requirements,and cost of various 6tk insurance coverages and endorsements. If Buyer desires title
coverage other than that required by Yfiis paragrapfi,Buyer sha(1 instruct Escrow Holder in writing and pay any inerease in cost.
13.SALE OF HUYER'S PROPERTY:
A. This Agreement is NOT corningerrt upon the sale of any property owned by Buyer.
OR B. �(If checked):The attached adde�dum{C.A.R. Form COP)regarding fhe contingency for the sale of property owned by Buyer is incorporated
ir�to this Agreemer�t.
Buyet's Initials(�_)( ) Seller's Initials( )( ) �
CopyrigM01991-2010,CALIFORNIA ASSOCIATION pF REALTORS�,INC. �
RPA�CA REVI$ED 4l10(PAOE 4 Of 8) Re°ie'ued by �te o�r�r'�r
CALIFORNIA RESiDENT1AL PURCHA$E AGREEMENT(RPA�CA PAGE 4 OF 8)
74537 King Fisher Cir
Property Address: Pa/m Des ert. CA 922&0 Date: February 24,20i3
14.TIIII� PER1008; REIY�YAL OF CONTIMGENGfE$; CANCELUAT�N Ri�H78: The ioiicwln�time perfods mry only be exte�dad, aHared,
moditisd ar changed by mulual writtan aprsamerK.Any r�noval ot contin�enai�s or cancellation�r�sfer this paraqnph by aither Buysr or
Seller muSt be.xerais+�d in qood iaith and in writiny(C,A.R.Fo�m CR or G�.
A. SELLER tIAB:7(or� 15 )8ays ARer Acaeptance to Det'nrer to Buyer ad Repo�ts,discbsures and information for which SeBer is
responsible under paragraphs 4,&A,B and C,7A,9A,11 A and B,and 12.Buysr may give SeUer a Natice to Seiler ta Perform(C.A.f2.Form NSP)
it 5eller has not Oelivered the ilems within the time specified.
B. (1) BUYER HAB: 17(or� )Days After Acceptance,unless otherwise agreed in writing,io:
(ij complete all Buyer Investigations;aQQrove all discbsures,reports and other applicable information,which Buyer receives from Seller,and
approve all other rr�tte►s affecting the Property;snd
tii� Deliver to SeUer Sgned Coqes of Siatutory and Lead Disclosures Delivered by Seller in accordance with paragraph 6A.
(2) Ylhthin the time speafied in 148{i),Buyer may request Yhat Selier make repairs or#ake any other adion regarding the Property jC.A.R. Form
RR).Seller I�s no obligaiion to agree to or respond to Suyer's requests.
(3) 4Uidrin the time specified in 146{1) {or as a�eniviae spec�ed in this Agreement}, Buyer shall Deliver to Seller e�her(i} a removal of the
applicable con6ngency(G.A.R. Form CR),or(ii)a cancellation(C.A.R. Form CC)of ttris Agreement l�sed upon a contingency or Seller's
faiture to Deliver the specified Rems.However,if any repaA,disdosure ar information for which Seller is responsible is rrot Delivered within the
time specified in?4A,then Buyer Mas 5(or� �Days After Delivery of any such Rems,or the time specified in 14B(1),whidiever
is later,to Deliver to Seller a removal of the applicabte contingency or cancellation of this Agreement.
(4) Continuation of Cot�linQency:Even aRer the er►tl of the time specified in 148(1)and beiore Seller canc;els this Agreement,if at all,pursuant
to 14G, Buyer reffiins the right to either(i)in writing remove remaining�nlingenaes,or(ii)cancel this�,qreement based upon a remaining
contingency or SeOer's faiture!o DeHver the specified terms.Once 8uyer's written removal of all contingencies is Delivered to Selfer, Seller
may not carx;el this AgreemeM pursuant to 14C(t).
C. SELLER RK3HT TO GANCE�:
(1) Setfer ripht to Cancei; 8uysr Gontingencies: If, within time speafied in this Agreement, Buyer does not, in writing, Deliver to Seller a
removal of the applicable coMingency or cancellation of this Rgreement then Selter,after first Delivering to Buyer a Notice to Buyer to Pertorm
(C.A.R.Form NBP)may cartcel this AgreemeM.fn such evera,SeNer st�alt authorize retum of Buyers deposit.
(2) Seller rlphtto Canctl;Buyer Cot�tnc!Obliqations:Seller,aRer first Delivering to Buyer a NBP may cancel this Agreement for arry of the
foNowing reasons:(Ij if Buyer fails to depasit funds as required by 3A or 38;(IQ'rf the funds deposited pursuant to 3A or 38 are not good when
deposited; (Iti�if Buyer faits to Deiiver a rtotice of fHA or VA crosts or terms as required by 3C(3)(C.A.R. Form FVA); (iv)if Buyer fails to
Detiuer a tetter as required by 3H;(vy if Buyer tails to Deliver verification as required by 3G or 3J,(�i)if Seller reasonabty disapproves of the
vefifica#ion provkled by 3G or 3J;(vfl)if Buyer fails to retum Stahrtory and Lead Disclosures a�required by paragraph 6A(2);or(vHl)if Buyer
Fails M sign or inRial a separate liquidated damage form for art increased deposit as required by peragrephs 36 and 25. In such event,Sel{er
shall autharize return of Buyer's deposit.
(3) Noflae To Buyer To Pertorm:The NBP shall:�1)be in writing;�11)be signed by Seller;and(ilf�give Buyer at least 2 for� )Days
After Delivery(or until the time specified in the aPplicaMe paragra�,whid�ever�ccurs last)to take the applic;able action.�y not be
Delnrered any earlier than 2 Days Prior to the expiration of the applicabte time tor Buyer to remove a cor�tingency or cancel this Agreement or
meet an obligation specified in 14C{2).
D. EFFECT OF Bt7YER.'S REM01tAL�F GONTINGENCIE3:IF Buyer removes, in writing,arry contingency or cancellation rigMs,unless otherwise
speafied in a separate written agreement beiween Buyer a�d SeNer,Buyer shall with regard to that contingency or cancellation right conclusively
be deemed to have:(i)completed a0 Buye�lnvestigations,and review of reports and otfier applicable informatan and disclosures; Qi)eleded to
proceed wfth the transadion;and(lii)assumed all liability,responsibility and expense for Repairs or corcedions or for inability to obtain financing.
E. CLOSE OF ESCROW: Before Seller or Buyer may cancel this Agreement fw failure of the other party to close escrow pursuant to this
Agreement,Selleror Buyer must first give the otMer a demand to dose escrow(C.A.R.Form DCE).
F. EFFECT OF CANCELLATION ON DEPOSITS:If Buyer or Seller gives written notice of canceAation pursuant to rights duly exercised under the
terms of this Agreement, Suyer and Selter agree to Sign mutual instructions to canoel the sale and escrow and release deposits, if any,to the
party errtitled to the funds, tess fees and costs incurred by that party. Fees and costs may be payable to service providers and vendors for
services and products provided during e�row. Relaaso ot tunds will raquire mutual 8iqnsd ralease instructions from Buyer and 3eller,
Judiclal declsion or arbllration award. A Buysr or Saller may be subject to a civil penalty of up to t1,000 for refusal to sipn such
instructlons If no qood tatth dispute exists as to wMo is eMitlad to tlw daposited funds�Civil Code§1067.3).
16. REPAIR3: Repairs sha�l be completed prror to final verific�tion of c�ndition unless otherwise agreed in writing. Repairs to be performed at Seller's
expense may be perfioormed by Seller or through others, provided that the work complies with applicable Law, induding govemmental permit,
inspedan and approval requirements.Repairs shall be performed in a good,skilltul manner with rrreterials of quatity and appearance comparable to
existing materials. tt is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible. Seller shall:�q
obtain receipts for Repairs performed by others; (ii) prepare a written statement indicating the Repairs performed by Seller and the date of such
Repeirs;and(IIq provide Copies ot receipts a�d statements to Buyer prior to finat verification of condRion.
16.FINAL VERIFICATION OF GONDITIQN:Buyer shall heve the right to make a final inspection of the Property within 6(or )Days Prior
to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to wnfirm: (i}the Property is maintained pursuaM to paragraph 9; (ii)
Repairs have been campleted as agreed;and(if�Seller has complied with Sellers other obligations under this Agreement(CA.R.Form VP).
1T.PRORATIONS OF PROPERTY TAXE3 AND OTHER 11'EAi1S:Unless otherwise agreed in writing,the following items shall be PAID CURRENT and
prorated between Buyer and Seller as of Close Of Escrow:real property taxes and assessments,interest,rents,HOA regular,special,and emergency
dues and asse�ments imposed prior to Close Of E�crow, premiums on insurance assumed by Buyer, payrr�nts on bonds and assessments
assumed by Buyer,and payments on Meilo-Roos and other Special Assessment District bonds and assessmenis that are a currerrt lien.The following
items shall be assumed by Buyer WITHOUT CREDIT toward the purchase pric:e: prorated payrr�ents on Mello-Roos arxi other Special Assessment
District bonds and a�essments and HOA speciat asses�ment�that are a current Gen but�t yet due.Properly wiil be reassessed upon change of
ownership.Any supplemental tax biils shall he paid as follows:()for periods efter Ciose Of Escrow,by$uyer;and(iq for periods prior to Close Of
Escrow,by Selter{see C.A.R.Form SPT or SBSA for futther information}.TA7C BIILS{SSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED
DIRECTLY BETWEEN BUYER AND SEL�ER.Prorations shall be made lrased on a 30-day morrth.
BuyePs Initials( )( ) Seller's Initials{ )( ) �
C'.opytight01981-2010,CALIFORNIA ASSOGIATION OF REALTORS�,INC. �
RPA-CA REVI8ED 4110(PACE 5 OF 8► Reviewed by Date ��
CALIFORNIA RESIDENIIAL PURCHASE A6REEN�NT(RPA-CA PAGE S OF 8)
74537 King Fisher Cir
PropertyAddress: Palm DeSert. CA 922B0 Date: ��ary 14,2413
18.SEI.ECTION OF SERVICE PROVIDER9; 8rokers do not guarantee the performance of any ver�dans, service or product providers ("Providers"),
whether referred by Broker or selec�ed by Buyer,Seller or other psrson.Buyer and Seller may�eet ANY Providers of tfieir own choosing.
18.AAULTIPLE LIBTINti 86RVICE{"#ALS'7:Brokers are authorized to report to ihe MLS a pemding sate and,upon Close Of Escrow,ttre seles price and
other terms of this transadion shatl be provided to the MLS ta be published and disseminated to persoris and entities authorized to use the
information on terms ap}xoved by the MLS.
20.EQUAL HOU8ING OPPORTUNITY:The Property is sold in compliance with federal,state and local anti-discrimination Laws.
21.ATTORNEY PEE8: In any action, proc;eeding,or arbitration between Buyer and Seller arising out of this Agreemem,the prevailing Buyer or Seiler
shali be entiUed to reasonable a�amey fees and costs from the non-prevailing Buyer or SeUer,except as provided in paragreph 26A.
22.DEFMII"I70NS:P,s used in tt►is Agreement:
A. "A+cCeptancQ"means the time the offer or final counter offer is acce{�1ed in vrriting hy a party and is delrvered to and personally received by the
other parly or that prariy's authnrized agerrt in acxmrdance with the terms o#this offer or a final counter offer.
B. "C.A.R.Fonn"mesns the specificform refere�ed or another comparable form agreed to by the padies.
C. "Close Ot Escrow"means the date the grant deed,or other evidence of transfer of titte,is recorded.
D. "CoQy"means copy by any rt�ans inctudinp photocopy,NCR,facsimile and electronic.
E. "Days"rrieans ralendar days. However,After Acceptance,the last Day for pertormance of any act requirad by this Agreement(including Close
Qf Escrow)shall not indude any Saturday,Sunday,or tegal holiday and st�ll instead be the ne�Qay.
F. "Days After"means the speafied number of celender days after the occunence of the event specified,not caunting the calendar date on which
the specified event axurs,and ending at t l:59PM on the finai day.
G. "Days Priol"means ihe speafied number of calendar days before the occurrence of the event specifi�d,not courrting the calendar date on which
the specifled ever�t is schcduled to occur.
H. "Deliver","DeNv�sred"ot"Detiv�ry",regardless of the method used(i.e.messenger, rr�il,email,fax,other),means and shall be effedive upon
(i)personat receipt by Buyer ar Seller ar the individual Real Estate Licer�see for that principal as speafied in peragraph D of the section titled Real
Estate&okers on pege 8;OR(ii)if checked,�per the attached addendum{C.A.R.Form RQN).
I. "Ele�tronic Copy"or"El�stronic Stqnature"means,as applicable,an electronic copy ar signature complying with�alifomia Law. Buyer and
Seller agree th�t electronic means witl not be used by erther party to modify or aker the coMent or iritegrity of this Aqreement without the
knowledge and consent ot the other party.
J. "Law"means any law,rade,statute,ordinance,fEgt118t1011,rule or order,which is adopted by a controlling city,oounty,state or federel legislative,
j�diciat or executive body or agency.
K. "Ropairs"rtreans any repairs(includirtg pest coMrol),akerations,replacements,madifiptions or retrofitting of the Property provided for under this
Agreement.
L. 'Higned'means either a handwritten or electronic signature on an original docwmerrt,Copy or any counterpart:
23.BROKER CONPEN8ATIQN: Seller or Buyer, or both, as applicable, agrees to pay compensatan to Broker as specified in a separate written
agreerr�nt between &oker and that Seller or Buyer. Compensation is payable upon Close Of Escrow, or if escrow does not dose, as otherwise
specified in the agreemerrt between Broker and that Seller or Buyer.
24.JOINT ESCROW INSTRUCTIQNS TO E3CROW HOIDER:
A. The tollowing paragnphs,or appllcable portions tMercof,oi this Agreemant constitute the Jolrrt escrow instrucNons ot Buyer and 8eller
to Esarow Molder,which Escrow Holder is to use along with any reNated wunter offers and addenda,and any addiNonal mutual instructions to
close the escrow:l,3,4,6C,11 B and D,12, 136,14F,17,22,23,24,28,30,and paragraph D of the section titled Real Estate Brokers on page
8.If a Copy of the separate compensation agreement(s)provided for in paragraph 23,or paragraph D of the section tRled Real Estate Brokers on
page 8 is deposited with Escrow Holder by Broker, Escrow Holder shall accept�ch agreement(s)and pay out of BuyePs or Seller's funds, or
both, as applicable, the respective Broker's compensation provided for in such agreement(s).The terms and conditions of this Agreement not
speafically referenced e6ove,in the specified paragraphs are additional matters for the information of Escrow Holder, but about which Escrow
Holder need not be concemed. Buyer and Se�ler will receive Ese:row Holder's general provisions diredly from Escrow Holder and will execute
such provisions upon Escrow Holder's request.To the extent the general provisions are inoonsistent or conflid with this Agreement,the general
provisions wilt control as to the duties and obligations of Escrow Holder only.Buyer and Setler witl execute additional instructions,documents and
forms provided by Escrow Halder that are reasonably necessary to close the escrow.
B. A Copy of this Agreement shall be delivered to Escrow Holder within 3 business days after Acceptance(or ❑
).Escrow Holder shall provide Sellers Statement of
Information to Title comRany 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 aifeded 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 paragraphs 23 and paragraph D of the section titled Real
Estate Brokers on page 8.Buyer and Seller irrevocably assign to Brokers compensation specified in paragraphs 23,respectivety,and irrevocably
irtstruct Escrow Holder to disburse ttwse funds to Brokers at Close Of Escrow or pursuant to any other mutually executed cancellation agreement.
Compensation inatrudions can be a mended or revoked only with the written consent of Brokers.Btryer and Seller shall release and hold harmless
Escrow Hokfer hom any tiebility resulting from Escrow Holder`s payment to Broker{s)of compensation pursuant to this Agreement.Escrow Holder
shall imrr�d�tely notify Brokers: (f�if Buyer's initiat or any additional deposit is nat made pursuant to this Agreement,or is not good at time of
deposit wRh Es�ow Halder,or(Iq if either Buyer or Seller instruct Escrow Hotder to cancel escrow.
D. A Copy of any amendmerd that afFects any paragraph of this Agreement for yrhich Escrow Holder is responsible shall be delivered to Escrow
Nolder within 2 business days after mutual execution of the amendment.
Suyer's Initials( )( ) Seller's Init'rals( )( ) �
CopynghtO 1991-201D,CALIFORNIA ASSOCIATION OF RFALTOR9�,INC.
RPA-CA REVISED 4/10{PAGE 6 OF 8)Print Date Reviewed by Date P��T�
CALIFORNIA RE8IDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 6 OF 8)
74637 Kfng Fisher Gir
Properly Address: palm Desert. CA 92280 Date: February 14,2413
25.LJQUiDATED DAMAGES: if Buyer faiiss to �ompieie this purchase beoause of Buyer's da4autt, Selier shall retain, as
liquidated damages, the deposi!xtuaNy paid,li the Property is a dweiling y►rith no more than four units,one o!which Buyer
in�nds to or�cupy,then the mmount retained shall be no more than 3%ot the purchase price.Any excesa shall be returned
bo Buyer. Release of tunds wilt requirr mutual, Siened release instructions from both Buyer and Seller,judlcial decision or
arbitration awarrl. AT TIME Of THE INCREASED DEPOSIT BUYER AA1D SELLER SHALL 81GN A SEPARATE LIQUiDATED
DAMAOES PROVISION FOR ANY INCREASED DEPOSIT.(C.A.R.FORM RID�.
B er's lelkiais i 3eiier's lnitiais ' 1
26.DiSPUTE RESOI.U710N:
A. MEOIATIQN:Buyer and Selier agree to mediate any dispute w chaim arising between them oat of this Agreement,or ariy resufting lransadion,
before resortir�g to arbitration or court action.Buyer and Sell�also aqrsa to rr�ediate any disputes or claMrts wifh Broker(s),who,in wrllinq,
aqree to suah mediation prior to,or with�a reasot�ble tkne after,the dispike or claim is preseM�ed to the Broker.Mediation fees,if any,
shall be divided equally among the parties irnolved.lf,for any dispute or c�im to which this paragraph appdes,any party(i)commences an action
without 6rst attempQing to resolve the matter through mediation,or(ii)before commencement of an action,refuses to mediate after a request has
been made,then that party shall not be erditted to recover attorney fees,even if they would otherwise 6e availab�e to that party in arty such action.
THIS MEDlAT10N PROVIStON APPLIES YUHETHER OR NOT THE ARBtTRATION PROVIStON IS INITIALED.Exclusions hom this mediation
agrea#nerH a►e spaclflad in paragraph 26C.
B. ARBITRATIQN Of DISPU7ES:
Buyer and 5eller a8ree that any dispute or claim in Law or aquity arising between them aat of thia Agreement er any
rrsulting transactian,vrhich is not sattled thrcw�h mediatian,shall be deoided by neutral, bindin�arbitrs�tion. Buyer and
�Ilsr alsa a�gree bo arb�rabe any disputes or cFaims with Broker(s),who,in writing,agree to suah arbitration prior to,or
within a reasonabN�tlme�r,the dis�te or claim is presanted to the Broker.The arbitrator aMal)be a retlred judge or
justice,or an att��y with a!least 6 yeara af residential real estate Law axperienae, untess the parties mutually agree to
a diiferent arbihat�r.Tha parties shall have the right to discovery in accordance wilh Code af Civil Proc�uro§1283.05.
In all other respects, the arbitration shall be aonducted in aacordance with Title 9 oi Part 3 of the Code of Civil
Pracedure.Judgment upon the avnard of the arbitrator(s)may be entered into any caurt having jurisdiction. Eniorcement
of this agre�ment �o arWkrate shatl be eoverr►�d by the Federal Arbitration Ad. Exclusions f�om this arbitration
agreement are speci�ed in paragraph 28C.
"NOTICE:BY INITIAUNO IN THE 3PACE BEIOW YOU ARE AOREEING TO HAVE ANY DISPUTE ARISING OUT
OF THE MATTERS INCLUQED IN THE 'AR8ITRATiON QF QISPUTES' PROVISION DEGIDED BY FIEUTRAL ARBITRATION
AS PROV(QED BY CAUFORNIA LAW AMD YOU ARE OMMG UP ANY RlGHTS YOU MIGHT POSSE33 TO HAVE THE
DlSPUTE LITIt3ATED IN A COURT OR JURY TRIAL. BY INITIAUNG IN THE SPACE BE�OW YOU ARE C3IVINCi UP YOUR
JUDICIAL RIGHTS Tl� DISCOVERY AND APPEAL, UNLESS THOSE RIOHTS ARE SPECIFICALLY INCLUDED iN THE
'ARBITRATION OF DISPUTES'PROVISION. tF YQU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS
PRO�fIS10N,YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL
PROCEDURE.YOUR At3REEMENT TO THIS ARSITRATION PRC3V1310N IS VOLUNTARY."
"WE HAVE READ AND UNDERSTANp THE FOREGOING AND ACiRfE TO SUBMIT DISPUTES ARISiNG OUT
OF THE NWTTERS INCLUdED IN THE'ARBITRATION OF DISPUTES'PROVI310N TO NEUTRAL ARBITRATION."
Bu er's Initlals ! 8elter's Initials /
C. ADOiT10NAL MEDIATION AND ARBITRATION TERM8:
(1) EXCLUSION8:Tha tollowinp matters shall be axcludad from medlalion and arbRratlon: (i)a Judicial or nonaudlctal toreclosura or
other actlon or proceeding to�nfotce a deed o!trust,mortgage or Installrnerh land sale coMract as deflned In Cfvll Code�2886;{il)
an unlaw�ul datalner action;(ifi)the flling or enforaeme�rt of a mechanic's lien;and(iv)any matter lhat is wllhin the jurisdiction of a
probate,�nall elaims or bankruptcy court.The fllinp oi a eourt action to erwble the recoMing oi a notice of pendfng actlon,tor
order of attachme�, recelwrshlp, InJunction, or other provlsional nmedles, shall not constitute A walver or vlolatlon oi the
medlallon and arblttaUon provlslons.
(2) BROKERS:Brokers shAll not be obligated or compalled to mediate or arbRrate unless they aQree to do so in writing.Any Broker�s)
participatin�in mediation or arB(tration shall not ba daartad a party to the Ayreemant.
27.TERM8 AND CONDITION8 OF OFFER:
This is an ofFer to purchase the Property on the above terms �nd 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. If at least
one but not all perdes initial such paragraph(s), a counter offer is required until agreement is reached. Seller has the right to continue to offer the
Property for sale and to acxept any other offer at any 6me prior to notification of Acceptance.If this offer ia accepted and Buyer subsequently defauRs,
Buyer may be responsible for paymeni of Brokers'compensation. This Agreement and any supplement, addendum or modification, induding any
Copy,may be Signed in two or more cour�terparts,all of which shall constitute one and the same wnting.
28.TIME OF E8SfNCE; EN7'1RE CONTRACT; CHANGES: Time is of the essence. AU understandings between tfie parties are incorporated in this
AgreemeM.tts terms are intended by the parties as a final,complete and exclusive expre�ion of their Agreemerrt with respect to its subjed matter,
and may not be cflntradided by evidence of any prior agreement w contemporaneous orai agreerr�nt.If any provision of this Agreement is held to be
ineffed'we or irnatid,the remai�ing pravisions will nevertheless be given full force and effect. Faccept as oiherwise specified,this Agreemern shall be
interpreted and disputes sfiall be resolved in accordance with the laws of the State of Califomia.Neither this Agreement nor any provisbn in it
may be extanded,amended,modHied,altered or chanyed,exospt in writin{�Slpned by Buyer and 3eller.
Buyer's Initials( )( ) Seller's Initials( )( ) �
�
CopydgM61991-2fI70,CALIFORNIA ASSOCIATION OF RFA�TORS�,INC. �
RPA-CA REYI8ED 4/10(PAQE 7 OF 8) Reviewed by Date ��x��
CALIFORNiA RESIDENTU4L PURCHA8E AGREEMENT(RPA-CA PA6f 7 OF 8)
74537 King Fisher Cir Februa 14,2013
PropertyAddress: Palm Desert CA 92280 Date: ►Y
29. EXPIRATION OP flFFER:This offer shall be deemed revoked a�the deposit shaN be retumed unless tfie offer is Signed by Seller and a Copy of the
Signed offer is perso�ally received by Suyer,or by ,who is
authorized to receive it, by 5:00 PM on t e ! �r ay a r �s r �s sig y uyer or, � c ed,� by
�AM�PAA,on ( ate)).
Buyer has read and acknowiedges receipt of a Copy of the offer and agrees to ihe above confirmation of agency retationships.
Date Date
BUYER A qual�ed buyer of/ow or moderate income BUYER
(Print name) (Print name
{Address)
❑Addftional Signature Addendum attached(C.A.R.Form ASA),
30. ACCEPTANCE OF OFFER:Seiler warrants that Seller 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. Setler has
read and acknowledges reoeipt of a Copy of this AgreemeM,and authvrizes Broker to Deliver a Sigroed Copy to Buyer.
❑{If checked)SUBJECT TO ATTACHED COUNTER OFFER(C.A.R.Form CO�DATED: .
Date Date
SELLER Palm Desert Housing Authority SELLER
Print name (Print name)
(Addresa)
❑Additional Signature Addendum attac�►ed(C.A.R.Form ASA).
� r ) CONFIRIMATION QF ACCEPTANCE:A Copy of Signed Acceptance was personalry received by Buyer or Buyer's authorized
(Initials} agerrt on(date} at �AM �PM.A binding Agreement is created when
a Copy of Signed Acceptance is personally received by Buyer or Buysr's authorized agent whether or nat conflrmed in
this documenk Compfetion of this conflrmation is not legafly required{n order to create a binding Agreement.it ia sofely
intended to evWence the date that Canfirmation of Acceptance has bccurned.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seiler.
B. Agency relationships are coMirmed as ststed in paragraph 2.
C. If specified in paragraph 3A(2),Agent who submitted the offer for Buyer acknowledges receipt ot deposit.
D. COOPERATIPIG BROlCER COMPENSATION: Listing Broker agrees to pay Cooperating Broker(Selling Firm)and Cooperating Broker agrees to
accept,out of Listing Broker's proceeds in escrow:(i)the amount specified in the MLS,provided Cooperating Broker is a Participant of the MLS in
which the Property is offered for sale or a reciprocai MLS;or(ii)�(if checked)the amount specified in a seperate written agreement(C.A.R. Form
CBC)between Listing Broker and Cooperating Broker.Dedaration of License and Tax(C.A.R.Form DLT)may be used to document that tax reporting
will be required or that an exemption exists.
Rqet-C9Uall�Broker(Selling Firm) DRE Lic.#
By DRE Lic.# Date
Adtlr�s ity State Zip
Telephone ax -mai
Reai Estate Broker(Listing Firm) DRE Lic.#
BY ic. Date
Address Ciry State ip
Telephone ax -mai
ESCROW HOLDER ACKNOWLED(3MENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement,(N checked,Q a deposit in the amount of$ ),
counter offer number�ed , �Seller's Statement of Infortnation and �Other Addendum#1
,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 if any.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is
Escrow Holder Fo►eslte Escrow Escrow#
BY Es�e Date
Ad ress
Phone/Fa -mai
Escrow Holder is li�n the ali ornia paAment o �Corporations,�tnsurance,�Real Estate. License #
PRESENTATION QF OFFER:( )Listing Brokar presented this offer to Seller on (date).
Broker or Designee Initials
REJECTION OF OFFER:( 1( )No counter offer is being made.This offer was rejected by Sell�r on (date).
Seller's Initials
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA A3SOCfATION OF REAiTORS�(C.A.R-). NO REPRESENTATION IS MADE AS TO THE LEGAt VALIDITY OR ADEQUACY OF ANY
PROVISION IN ANY SPECIFIC TRANSACTION.A REAL ESTATE BROKER IS TtiE PERSON�UALIFIED TO ADVISE ON REAL ESTATE TRANSAC710NS.IF YpU DES�RE LEGAL OR TAX ADY�CE,
CONSULT AN APPROPRiATE PROPESSIONRL.
This form is available tor use Oy the entire r�l estate irWustry.tt is not intentletl to identify the user as a REAL70R�REALTOR�is a registeretl colleUive membetship maAc whicti may be used only by
membare of Vre NATIONAL ASSOCIATION OF REALTORS�wha subscribe io Hs Code of Ethics.
, PuWished and Distributed by:
„ REAL ESTATE BUSINESS SERVICES,INC. �
asubmKafaryd6heCaiFxr�Assoaiied'nriofREA1.TnR9� rteviewed by �
� m 525 South Virg�Avenue,Los Angeles,Califomia 90020 B�k�*a��� Date ���
REVISION DATE 4/10 OPPORTUNITV
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 8 OF 8)
�` CALIFORNIA
� n s s o c r nT r o�r BUYER'S INSPECTItJN ADVISORY
�'� O� REAlTO RS�� {C.A.R.Farm BIA-A,Revfsed 10102)
Property Address: 74b37 Kin� Fisher Cir, Pa/m Desert, CA 9226n ("Property'").
A. IMPORTANCE OF PROPERTY INVEST'iGATiON: The physicai condition of the land and improvements being purchased is not
guaranteed by eitfier Seiler or Brokers. For this reaso�, you should conduct thorough investigations of the Properiy personaliy and with
professionals who should provide written reports of their investigations.A general physical inspection typically does not cover aJl aspects
af the Property nor items affecting the Properky that are not physically located on the Property. If the professionals recpmmend further
investigations, induding a recommendation by a pest control operator to inspect inaccessibte areas of the Property,you should contact
quafified 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 d�isctosed facts, and the investigation and veriftcation of it�formation and facts that you
know or that are within yaur diligent attention and�bservation.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
{xotect yourself_ It is extcemely important for you to read all written reports provided by professionals and to discuss the results of
inspections with the professional vrrho conducted the inspection. You have tfie right to request that Sell�r make repairs, corrections or
take other action based upon items ctiscovered in your investigations or dsdosed by 8eller. If Seller is unwilling or unable to satisiy your
requests, ar you do not want to purchase the Property in its disdosed and discovered condtion, you have the right to cancel the
agreement if you act within specifie time periods. If you do not cancel the agreement in a timely and proper manner, you may be in
breach of contract.
C. SELLER RI�HTS AND DUTIE3: Seller is required to disdose to you matenal fads known to him/her that affect the value or
desirability of the Proper4y. However, Setler may not be aware of some Property defects or conditions.Seller does not have an obligation
to insped the Property for your benefrk nor is Seller obligated to repair,correct or othervvise cure known defedsthat are disdased to you
or previously unknown defects that are discovered by you or your inspectors during escrow. The purchase agreement obligates Sel(er to
make the Property available to you for invesUgations.
D. BROKER OBLI(3ATfON3: Brokers do not have expertise in all areas and tMerefore cannot advise you on many items, such as soil
stabilit�r, geologic or environmental conditions, haaardous or illegal controlled substances, structural conditions of the foundation or other
improvements, or the condition of the roof, plumbing,heating, air conditioning, electrical, sewer,sepfic,waste disposal, or other system.
The only way to accuratety determine the co�dition 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. tn salas involving residential dwellings with no more than four units, Brokers have a duty to make a diligerrt visual
inspection ofi the accessible areas of the Pro�riy and to disclose the results of that inspection. However, as some Property defects or
canditions 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 thet agreement will determine the nature and ex#ent of that Broker's duty to you.
YOU ARE STRONGLY ADVISED TO INVESTIt3ATE THE CONDITION AND 3UITABILITY OF ALL ASPECTS OF THE PROPERTY.IF
YOU DO NOT DO SO,YOU ARE ACTINt3 A(3AINST THE ADVICE OF BROKERS.
E.YOU ARE ADVISED TO CONDUCT INVESTIGATIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE
FOLLOWIN�:
1. GENERAL CONDITION QF THE PROPERTY, ITS 3YSTEMS AND COMPONENTS: Foundation, roof, plumbing, heating, air
conditioning, electrical, mechanical, security, pooUspa, other structural and non-structural systems and components, fixtures,
built-in appliances, any personal property included in the saie, end energy effidency ofi the Property. {Structural engineers are best
suited to determine possible design or construction defects,and whether improvements are structurally sound.)
2. SQUARE FOOTAGE,AGE,BOUNDARIES:Square footage, room dimensions,lot size, age of improvements and boundaries.Any
rtumerical statements regarding these items are APPROXIMATIONS ONLY and have not been venfied by Seller and cannot be
verified by 8rokers. Fences, hedges, walls, retaining walls and other�atural or constructed barriers or markers do not necessarily
identify true Property boundaries. (Professionals such as appraisers, architects, surveyors and civil en�neers are best suited to
determine square footage,dimensions and boundaries of the Property.)
3. WOOD DESTROYIN(3 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 tMese items can be separated into two sectior�s: Section 1 identifies
areas where infestation or infection is evident. Se�on 2 idenbfies areas where there are conditions likely to lead to infestation or
infedion.A registered strudural pest control company is best suited to perform these inspections.
4. 3QIL STASILITY: Existence of filt or compacted soil,expansive or contrac�ing soil,susceptibitiiy to stippage,settling or movement,
and the adequacy of drainage.{Geotechnical engineers are best suited to determine such canditions,causes and remedies.)
The wpyrigM laws of the United States (TiUe 17 U.S. Code) forbid the
unauthorized reproduction of th�form,or any portion thereof, by phatocapy Buyer's Initials{ )( )
machine or any other means,i�fuding facsimile or computerized formats. Setler's Infials( }( ) �
Copyright� 1991-2004, CAUFORNIR ASSOCIATION OF REALTORS�, C
INC.ALL RIGHTS RESERVED. R��wed ny �� �,,,�
BIA A REVISED 10102(PAGE 1 OF 2)
BUYER'S IAISPECTION ADVISORY BIA-A PAGE 1 OF 2
Agent: Phone: Fax:
Broker
Propsrty Address: 74537 Kin_o Fisher Cis. Pafm Desert, CA 92260 Date:_Februerlr�4,2013
5. ROOF: Present cflndition,age, teaks, and remaining useful life. (Roofing contraetors are best suited to determine these conditions.)
6. POOL/SPA:Cracks,leaks or operationa!problems.{Poo1+contractors are best suited to detertnine tfiese conditions.)
7. WASTE DISPOSAL: Type, size, adequacy, capacity and candition of sewer and septic systems and components, connection to
sewer,and applicable fees.
8. WATER AND U71LtTES; WELL SYSTEMS AND COMPONENTS: Water and utiliiy availabilify, use restrictions and costs. Water
quality,ader�uacy,condftion,and performance of well systems and components.
9. ENVIRONMENTAL HAZARDS: Potential environmental hazards, inciuding, but not limited to, asbestos, lead-based paint and other
lead contamination, radon, methane, other gases,fusl oi! or chemical storage tanks, contaminated soil or water, hazardous waste,
waste disposal sites, elsctromagnetic fields, nuctear sources, and other substances, materiais, products, or conditions (including
moid (airbome, toxic or othervvise), fungus or similar corriaminants). {For more information on these items, you may consult an
appropriate professionai or read the booklets "Environmentai Hazards: A Guide for Homeowners, Buyers, Landlonls and Tenants,"
"Protect Your Family From Lead in Your Home"or both.)
10.EARTHQUAKES AND FLOODING: Suseeptibiiity of the Property#o earthquak�/seismic hazards and propensity of the Property to
flood.(A Geologist or Geotechnicai 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, fload or fire hazard zone, and other conditions, such as the age of the Property and tfie ciaims history of
the Properry and Buyer, may affed the availability and need for certain types of insurance. Buyer shoutd explore insurance options
earty as this information may affect other decisions,includirtg the removal of loan and inspection contingenaes. (An insurance agent
is best suited to provide informa#ion on these conditions.j
12.BUILDING PERMITS, ZONING AND GOVEF�NMENTAL REQUIREMENTS: Permits, inspecNans, certificates, zoning, other
govemmental limitations, resVictions, and requirements affecting the current or future use of the Property, its development or size.
(Such infonnation is available from appropriate govemmental agencies and private information providers. Brokers are not qualified to
neview or iMerpret any such information.)
13.RENTAL PROPERTY RESTRIGTIONS: Some cities and caunties impose resfictions that limit the amount of rent that can be
charged,the maximum number of occupants;and the right of a landlord to terminate a tenancy. Deadboft or other locks and security
systems for doors and windows, including windaw bars, should be examined to determine whether they satisfy legal requirements.
(Govemment agen+c'res 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
andlor other measures to decrease the risk te children and other persons of existing swimming pools and hot tubs,as well as various
fire safety and other measures conceming other features of the Property.Compliance requiremerrts differ ftom city to city and county
to county. Unless specifically agreed, the Property may not be in compliance with these requirements. (Local govemment agencies
can provide info�mation about these restrictions and other requ'rrements.)
15.NEIGHBORHOOD, aREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS: Neighborhood or area conditions, i�cluding
schools, proximity and adequacy of iaw enforcement, crime statistics,the proximity of registered feions or offenders, fire protection,
other govemment services, availability, adequacy and cost of any speed-wired, wireless intemet connections or other
telecommunications or other technology senrices and installations, proximiiy to commercial, industrial or agricuttural activfties,
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 govemmentalty 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 sign�cance to certain cultures and/ar religions, and personal needs, requirements and
preferences of Buyer.
Buyer and Seller acknowledge and agree that Broker: (i) Dces not decide what price Buyer should pay or SeBer should accept; (if) Does not
guarantee the condRion of the Property;(lii)Does not guarantee the perfortnance,adequacy or completeness of inspections,servioes,products or
repairs provided or made by Seller or others;(iv)Does no#have an obligation to conduct an inspection of common areas or areas off the sRe of the
Property;(v)Shal�not be responsible for identiying defects on the Property,in common areas,or offsite unless such defects are visualry observable
by an inspection of reasonably accessibls areas of the Property or are known to Broker;(vi)Shall not be responsible for inspecting public records or
permits conceming the title or use of Property;(vli)Shall not be respo�sible for identifying the location of boundary lines or other items affecting title;
(viii)Shall not be responsible for verifying square footage,representations of others or informetion contained in Investigation repoRs,Multiple Listing
Service,advertisemeMs,flyers or otfier promotional material;(ix)Shall not be responsible for providing legal or tax advice regarding any aspect of a
transadion eMered 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 protessionals.
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 read it car�efully.
A quali�ed buyer of/ow or moderate income
Buyer Signature Date Buyer Signature Date
Palm Desert flousir�g Authority
Selier Signature Date Seller Signature Date
THIS FORM HAS BEfN APPROVED BY THE CALlFORNIA ASSOCWTION OF REALTORS�(C.A.R.j.NO REPRESENTATION 1S AANDE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVlSION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUAIIFfED TO ADVISE ON REAL ESTATE
TRANSACTIONS.IF YOU DESIRE LEC�AI OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
This form is a�ailable for use 6y the entire real estate industry.It is not intended to identi(y the user as a REALTOR�.REALTOR�is a repistered oollective membership mark
which may be used only by members of the NATIONAL ASSOCIATION OF REALTORS�who subscribe to ds Code of Etfiics.
� Published and DisUibuted by' �
„ REAL ESTATE BUSINESS SERVICES,INC. Reviewed b
as�bsidayd6laeC�NbmeAssoc�a6'ond/�EAtTC� Y Date eauu�
` �,525 South 1(��gH Avenue,Los Angeles,Celifwnia�JOQZO ovvoaruu�Tv
BIA-A REVISED 10/02(PAGE 2 OF 2)
BUYER'S INSPECTION ADVISORY(BIA-A PAGE 2 OF�
�' CALiFORNTA
� ASSOCIATiON ADDENDUM
OF REALTORS�
�c.A.�.Fo„n aa�n,��+�se��oro�� No. �
The fdlowing terms and condltlons are hereby incorporated in and made e part of the: � Rasider�tial Pur�h�e Agreemen;,
❑ Manufacturod Home Purehaea Agreement, ❑ 8usiness Putchase Agreement, ❑Residentiai Lease or Moath-to-Month Rental
Agreement, ❑ Vacant Land Purchase Agreemer�, ❑ Rasider�ial Income Pt�party Ptuchase Agreement, � Canmerdal Property
Purchase Agraement, ❑other
dated ,on property kr�nnm as �nq is r �rc , a m s+e
in�. ��a Yer o w ar era mcome is referrod to as("Buyer/Tenarrt")
a� Pairm u e nousmg wumorny ie rofened to as('Seiler/Landlord").
The sale ef�Fris�is subiect to a au6�c hearisa scheda ior February 14 2 13
This ave a ctive er mus exec ams su ec
n r sr ous res no
lm rna c urr+emerr re e re s a o sa o
the HoLsina Antharitv.amana aN�er�sMi�ons.
o a ousrn mar prov paymen ass ce s a
bQus�rra cosi:such loar►n�av be sr1eM foraN or aart of term of the ban.�n�'assr's a� nce v�ary u
we�M�an aeneu.nl tu�nnenro an afferda a najpQ cost defined under Gafffem�'�Hea�and'�felY COdes and
scr�tiQg�t os Wo.prirA�r�loaa aFprava�
As r rs a govemment en a no su aroae xes.no orora n m rou escrow
finr t�us��rnose_ Buyer is resnonsible from the d�t�of escrow closingfor real vroaertv taxes ue a wi�eive
„a,P(j�iV Tsr v QF//t/e��f!r»m fha Ta�r(_` Hnr�nr'a�p
The foregoing tem�s and o�ndidons are hereby agreed to,end the undersigned ac*r�owiedge receipt of a copy of this documeM.
Date Date
BuyeNTenant A aualified buver of/ow or moderate income �������b� Palm Desert Housing Aathority
BuyerJTenant Seller/LandioM
The copydpM I�wa a 1M Unibd Sfafea(Titls 17 U.S.CaM)/oibfd ths unauthodzad repmdudton ot tlds imn,or ary porUon theroo/,by pholocopy maddro a any othar means,
h�dudinp feaimils w compulerized fonnau.CopyrlpMO 7N6-2001,CALIFORNIA ASSOCIATION OF REALTORSO,lNC.ALL RI(�IiTB RESERVED.
THIS FORM HAS BEEN APPRaVED BY T'FIE GALIFORNA A$50CIATIOM OF REALTOR8A @CA.R�.Na R�RESENTATION IS MADE AS TO T}1E LEGAL VALIDI7Y OR
ADEQUACY OF ANY FROVt810N !N/WY SPECIFIC TR4NSACTiOM. A REAL ESTATE �OKER !S 7F� P�SON Qtll1L[FI�TO AOYISE ON RfA1 E5TATE
TRANSACTIONS.�YOU DESIRE LEOAL OR tAX ADYlCE�CONSULT AN APPROPRUITE PROFESSIONAL.
This form is�vNls�le fot uee by fhe oMire roN esfMe indiqtry.It Is�t intandsd to Wantlfy tl�s uar ew a REALTOR�REALTOR!Is e rsyistered coNectlw m�mbs�Ip m�k
wMch maY b�w�d origr by rtwmbat of Ihe NATIONAL ASSOCYITION OF REALTORSA who subaaibs to Ns�ade of Ethla.
� PubGsMd md Dlarfbulyd by:
REAL E8TATE BUSIME83 SERVICES,INC.
" a a�aryo►the CAtIFORNlA ASSOCIATlClIV Of RE4LTtGR3m R�bY �
c 525 Soud�WqA Averws,Las Anpetes,CWifamie 90020 Broker a Dalynee Date
ADM-11 REVISED 1010'I(PAtiE 1 OF 1} a°""�rawr"a�i►'�r
ADDENDUM(ADM-11 PAf3E 1 OF 1�
Giilemn Grif6n Campany i575 Watwood Blvd.�I30U, Los Mgcles CA 90024
Phone:(310)478-1835 Fax: (310)478-2t33 GilleranGriftinCompany „y�
Sanchez, Gloria
From: Moeller, Charlene[CMOELLER@palmspri.gannett.com]
Sent: Tuesday, January 29, 2013 3:18 PM
To: Sanchez, Gloria
Subject: RE: Legal Notice-Public Hearing 02/14/13-FC Lot#88
A�� rc�cc�ivc�d and will ��ubl�isl�c�n c�l�atc�{s) re�uc��stE���..
Charlene Moeiler � Media Sales Legal Notice Coordinator
The Desert Sun Media Group
750 N. Gene Autry Trail, Palm Springs, CA 92262
t 760.778.4578 � f 760.77$.4731
le als theclesertsun.com/dpwlegals@thedesertsun.com
The Coachella Valley's#1 Source in News&Advertising!
, www.mvdesert.com � twitter � � ��y,lr �a�� ; facebook ' r'���:��- ,< <<.,;�;,
This �mai! and any files transmitted with it are canfidential and intended for the individual to whom they
ar� address�d. If you have received this eniail in error, please iiotify the sender and clelete the message
from your system
From: gsanchez a�citvofpalmdesert.org [mailto^qsanchez�ci��almdesert_ar�]
Sent: Tuesday, January 29, 2013 2:58 PM
To: tds-legals
Ce: �leon�a�c� itvof�almdesert.or,g;jgonzalesta�c�ofpalmdesert,org
Subject: Legal Notice - Public Hearing 02/14/13 - FC Lot #88
PLEASE PUBLISH THE FOLLOWING:
NOTICE INVITING BIDS
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—74537 King Fisher Circle, Palm Desert
TWICE IN THEDESERTSUN
Thursday,January 31,2013
Thursday, February 7, 2013
If you have any questions or require additional information, please call me.
Thanks, Charlene!
?'�?.c�ua �.,.c�
Records Technician
City of Palm Desert
73-510 Fred Waring Drive
1
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 City of Palm Desert (the "Cit�') and Palm
Desert Housing Authority (the "Authorit�') will hold a Public Hearing to consider
the approval of Residential Purchase and Sale Agreement (the "Purchase and
Sale Agreement") by and befinreen the Authority, as seller, and a person or family
of low or moderate income, as buyer. The Purchase and Sale Agreement
pertains to a single-family residence owned by the Authority located at 74537
King Fisher Circle, Palm Desert, CA 92260.
Said Public Hearing will be held as follows:
DATE: Thursday, February 14, 2013
TIME: 4:00 P.M.
PLACE: City of Palm Desert
Council Chambers
City Hall
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, Califomia 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, 73-510 Fred Waring Drive, Palm Desert, California 92260.
Dated: January 29, 2013
R he e D. Klassen, S cretary �
Palm Desert Housing Authority
(760) 346-0611
C:1Documents and SettingslgmaAinezlLocal SettingslTemporary Intemet FIeslContent.OuNook\14UON6GIWotice of Public Hearing FC Lot 88-2-14-13.doc