HomeMy WebLinkAboutRes HA-56 - Sale of Properties - Falcon Crest CITY OF PALM DESERT /PALM DESERT HOUSING AUTHORITY
JOINT CONSIDERATION
STAFF REPORT
REQUEST: REQUEST FOR APPROVAL OF THE PROPOSED SALE OF THE
PROPERTIES LOCATED AT 42071 VERDIN LANE (624-431-029),
42253 VERDIN LANE (624-431s016), 7447$ F,4LCON L,4NE (624-430�
018) AND 74670 KING FISHER CIRCLE (APN 624-440-019), PALM
DESERT (PURSUANT TO HEALTH AND SAFETY CODE SECTION
33433(c)).
SUBMITTED BY: Jessica Gonzales, Management Analyst- Housing
DATE: June 27, 2013
CONTENTS: Housing Authority Resolution No. HA- 56
Notice of Public Hearing dated June 11, 2013
Draft Purchase and Sale Agreement
Recommendation
That the Authority Board,
1. Conduct a public hearing and accept testimony on the proposed sale of the
properties located at 42071 Verdin Lane (624431-029), 42253 Verdin Lane
(624-431-016), 74478 Falcon Lane (624-430-018) and 74670 King Fisher Circle
(APN 624-440-019) (Falcon Crest Plan 3), to qualified households 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- 56
approving the sale of the properties pursuant to the attached draft Purchase and
Sale Agreement at the fair market value of$220,000 each.
By Minute Motion, that the City Council and Authority Board,
3. Approve silent homebuyer assistance loans in amounts that do not exceed
$80,000 in total for each 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
Staff Report
Public Hearing (624-431-029), (624-431-016), (624-430-018) and (APN 624-440-019)
June 27, 2013
Page 2 of 3
6. Authorize the Mayor, Authority's Chairman and/or Authority's Executive Director
or his designee to finalize and execute the Purchase and Sale Agreements and
any ancillary documents necessary to effectuate the sales 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.
Based on the previously approved restrictive covenant, 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 four (4) Falcon Crest Plan 3 single-family residences
located at 42071 Verdin Lane, 42253 Verdin Lane, 74478 Falcon Lane and 74670 King Fisher
Circle in the Falcon Crest Development (the "Propert�') to qualified low or moderate income
households.
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 properties meet the definition of a small housing project in that the Housing Authority will
only sell the properties 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 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
GlHOUSINGUessica GonzalesWROGRAMSWGENCY FOR-SALEIPUBLIC HEARINGSIHA-City 33433(c)Public Hearing FC Lots 18,36,46,69 Mtg of 6-27-13.doc
Staff Report
Public Hearing (624-431-029), (624-431-016), (624-430-018) and (APN 624-440-019)
June 27, 2013
Page 3 of 3
Desert Sun.
When a qualified buyer is identified for each of the homes, 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 defierred down-p�ym�nt assistance loans. The loan terms will be cansistent
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 per household which is the same amount of the original sales program.
Staff recommends that (i) the Housing Authority Board, hold a public hearing on the proposed
sale of the properties and approve the sale of the properties to qualified households 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 loans for each home not to exceed $80,000 per household 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 will reduce the monthly costs
associated with maintaining the inventory.
Submitted by: Department Head:
t�
Jessica o zales, Manage e Analyst- Housing J net Moor , Director of Housing
CITY COUNCILvyC�ION
APPROVED DENiED
Financ epartment: RE�,EIVED ,.,�OTHERI��,�=�
_ k:CS.�tla, -
�.�t. �+.. .�..�. ..�...�� �.
MEETING DATE 7• �
AYES `' %
aul Gibson, Director of Finance NOES:
ABSENT:
� ABSTAIN: '
�
pprov : VERIFIED BY:
Original on File with City erk's Office
hh M. Wohlmuth, City Manager/Executive Director �,"��BY HOUSC�A►UTH �
�
��i ��r��'��� �
V�pI�I�C� BY: �-�`- // '��
l7riginai �n fite with City erk'S Off1Ce
G:IHOUSING1Jessica Gonzales�PROGRAMSIAGENCY FOR-SALEIPUBLIC HEARINGSIHA-City 33433(c)Public Hearing FC Lots 18,36,46,69 Mtg of 6-27-13.doc
RESOLUTION NO. HA- 56
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 four single-family residential properties
located at 42071 Verdin Lane, 42253 Verdin Lane, 74478 Falcon Lane and 74670 King
Fisher Circle in the City of Palm Desert, Califomia(the"Properties").The Housing Authority
proposes to sell each of the Properties to four qualifying households 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.
-1-
12812-0001\1528710V2.dOG GWOUSINQJessica Gav�PROGRAMSAGENCY FORSPLEWUBIIC HEARING9FiA Reso/ppa.ing s�e d small Musinp projecl fC Lols 18,36,49,69 M�g otE+-13.doc
RESOLUTION NO. HA- 56
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 27TH day of JUNE 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-
12812-0001\1528710�l2.dOC GwWSINoJessica c,bnzaleavROGwWsncENCY FOksn�erueuC HEnwMc,wn Reso nypwig a�e ol small nousi�g piojqect FC�.as 18,3s,as,uv Mly a8-
13.dx
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 DRAFT Purchase and Sale Agreement will be
utilized for each of the four (4) single-family residences owned by the Authority
located at 42071 Verdin Lane, 42253 Verdin Lane, 74478 Falcon Lane and
74670 King Fisher Circle, Palm Desert, CA 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.
Said Public Hearing will be held as follows:
DATE: Thursday, June 27, 2013
TIME: 4:00 P.M.
PLACE: City of Palm Desert
City Hall Council Chambers
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, Califomia 92260.
Dated: June 11, 2013
RAC ELLE D. KLASSEN, ECRETARY
PALM DESERT HOUSING AUTHORITY
G:tCIIyCIrklGbAa SanchezLLEGAL NOTICESIPH 06272013-FC Lofs 18 36 49 and 69.doc
CALIFORNIA DRAFT
� C A L I F O R N 1 A RESIDENTIAL PURCHASE AGREEMENT
� A S S Q C 1 A T I O IV AND JOlNT ESCROW INSTRUCTIONS
_� Q F R E A L T d R S�' For Use With Sing}e Famity Residen�al Praperty—Attaahed or Detachad
(C.A.R.Form RPA-CA,Revised 4/10)
Date
1. OFFER:
A. THIS IS AN OFFER FROM A qnalit"ied btryer ot low or maderate income ("Buyer").
B. THE REAL PROPERTY TO BE ACQUIRED is described as t207t Vendtn Lane or d2253 Verdfn Lane or 74.t78 FaMon tane ar 74d70 K(n�Fisher Circfe
,ASSessofS P8rCe)N0.�s?+�3+.�o�o�aswsa+�a+a+sonuww.o+eoa.wvs�u�awa�Situated in
Palm DeSerf ,Countyof Rlverside ,Califomia,("Property").
C. THE PURCHASE PRICE offered+s nw nund,�ed twerrtr rtrousand uauars
(Dollars$ 2Y0,000.00 ).
D. C�OSE OF ESCROW shell occur on ��+°r S°°"e''at�au°pt°"�° {date){or���,Days After Acceptanc�).
2. AGENCY:
A. DISCLOSURE: Buyer and Seiier each acknowledge prior receipt of a "Disciosure 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 listing 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 uttimately acquire the Property. Seller understands that Broker representing Seiler may also
represent other sellers with competing properties of interest to this Buyer.
C. CONFIRMdTiOiV:The followi�g agenc�ra�m��es��[f10ilSI/►�g�U�jry�i this transaction:
Listing Agent (Print Firm Name)is the agent
ot(check one): �the Seller exciusiveiy;or�both the Buyer and Seller.
Seiling 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 0 both the Buyer and Seller. Real Estate
Brokers are not pafies to the Agreement between Buyer and Selier.
3. FINANCE TERMS:Buyer represents that funds will be good when deposited with Escrow Holder.
A. INITIAL DEPOSIT:Deposit sha8 be in the amount of . ... ...... ... ...... ... ................... . .. .. .. .. . $ 1�0
(1) Buyer shali deliver deposit directly to Escrow Holder by personal check, []electronic funds transfer,� Other
within 3 business days after acceptance (or 0 Other );
OR(2)(If checked)�8uyer 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 acxount) within 3
business days after Acceptance(or 0 Other ).
B. INCREASED DEPOSIT:Buyer shall deposit with Escrow Holder an increased deposit in the amount of . . . . . . .. . . . $
within Days After Acceptance,or�
If a liquidated damages clause is incorporated into this Agreement, Buyer and Seller shall sign a separate
liquidated damages ciause(C.A.R.Form RtD)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 conve�tional 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,Q an adjustable rate loan with initial rate not to exceed %.
Regardfess of the type of loan,Buyer sha�l pay points not to exceed °�of the loan amount.
121 �SECOND�OAN:in the amount of. ............. ... ..... ...... .. ... ........ .. ... ........ ..... .$ TBD
This loan will be conventionai financing or, if checked, �Seller(C.A.R. Form SFA), �assumed financing
(C.A.R.Form PAA), �Other See 3.D .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 rype of loan, Buyer shall pay points not to exceed %of the loan amount.
(3) FHANA:For any FHA or VA loan specified above,8uyer has 17(or� )Days After Acceptance
to Deliver to Seiler written notice (C.A.R. Form FVA) of any lender-required repairs or costs that Buyer
requests Seller to pay for or repair. Seller has no obligation to pay for repairs or satisfy lender requirements
uniess otherwise agreed in writing.
D. ADDITIONAL FINANCING TERMS: Palm Desert Housing Authority and City of Pa/m Desert may
down payment assfstance,prov► uyer qua� es.
E. BALANCE OF PURCHASE PRICE OR DOWN PAYMENT:in the amount of.. . ..... . .... ..... . .. ... .. .. ... .$ ��
to be deposited with Escrow Holder within sufficient time to close escrow.
F. PURCHASE PRICE(TOTAL): .... ....... .. .................. ... ............. ........ ...... ........ $ 2ZO,Q00.00
Buyer's Initials(�,__,)( ) SellePs initials( ){ ) �
�
The copyriqM lewa Mtha unkea States(Tftie 17 U.S.Code)tarbiC the unaufiwrized reprodudion of fhis iwm,or Earuxp�SMC
any portion there�,by photaropy machine a any other means,inciuding tacsaniie or canputerized formats. aProeTuwry
CopyrigM O 7987-2010,CALIFORNIA ASSOCIATION OF REAITORS�,INC.ALL RIGHTS RESERVEO.
RPA-CA REVISED 4l10(PAGE 1 OF 8) Reviev�ed by Date
CALIFORNIA RESIOENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 1 OF 8�
Agent: Phone: Fax:
Broker:
DRAFT
Propefty Address: 420T1 Verdln Ln or 42253 Ve�ln Ln or 71478 Fakon Lei or 746T0 KJrtg F/sher Ctr+c Date:
G. VERIFICATION OF DONM PAYMENT AND CLOSING COSTS: Buyer{or Buyers tender or loan broker pursuant to 3H(1))shall,within 7(or
� j Days After Acceptance, Deliver to Seller written verification of Buye►'s down payment and cbsing costs. (If checked,�
verification attached.)
H. LOAN TERMS:
�7) LOAN APPLICATIONS:Witiiin 7(or� ) Days After Aoceptance, Buyer shall Deliver to Seller a letter from lender or loan
broker stating that,based on a review of Buyer's written application and credit report,Buyer is prequalified or preapproved for any NEW foan
specifled in 3C above.(If checked,�letter attached.)
(2) LOAN CONTINGENCY: Buyer shall act diligently arxl in good faith to o6tain the desig�ated loan(s). Obtaining the loan(s)specified above
is a cotrtlnpency of this Agreement unless othermrise agreed in wrking.Buyer's contractual o6ligations to obtain and provide deposit,balance
of down payment and closing costs are not contingencies of this Agreement.
(3) LOAN CONTINGENCY REMOVAL:
(Ij 1Nthin 17(or� )Daytc A1ter A�eptarw�.Buyer shatl,as spaafied in paragraph 14,i�wriiing remave the iaan conUngency
or car�cel this Agreerr�ent;
OR(il) (if checkedj ❑the loan contingency shall remain in effed until the designated loans are funded.
(4) �MO LQRN CONTINGENCY(ff checked):Obtaining any loan specified above is NOT a contingency of this Agreement. If Buyer does not
obtain the loan and as a resuft Buyer does not purchase the Property,Seller may be entitled to Buyer's deposit or other legal remedies.
1. APPRAISAL CONTINGENCY AND REMOVAL:This Agreement is(or,if checked,Q is NO�contingent upon a written a ppraisal of the Properly
by a licensed or certified appraiser at no less than #he speafied purchase �ice. If there is a loan contingency, Buyer's 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).tf there is no loan contingency,
Buyer shall,as specified in paragraph 14B(3),in wri6ng remove the appraisal con6ngency 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.(lf checked, �verification attached.)
K. BUYER STATED FINANCtNG: Seller has relied on Buyers represerriation of the type of financing specified (including but not limited to, as
applicable,amount of down�yment,contingent or non confingent�oan,or all cash). If Buyer seeks alternate financing,(i)Seller has no obligation
to cooperate with Buyer's etforts to obtain such financing, and (ii) Buyer shall also pursue the fnancing method specified in this AgreemeM.
Buyers failure to secure alternate financing does not excuse Buyer from the obligation to purchase the Property and close escrow as specified in
this Agreement.
4. ALLOCATION OF COSTS(If checked):Unless otherwise specified in writing,this paragraph only determines who is to pay for the inspection,test or
service("Report")mentioned;it daes not determine who is to pay for any work recorrnnended or identitfed tn the Report.
A. INSPECTIONS AND REPORTS:
(1j �Buyer�Seller shall pay for an inspection and report for wood destroying pests and organisms ('1/Uood Pest ReporP') prepared by
Sell ers Cho►Ce a registered structural pest control company.
(2) Q Buyer�Seller shall pay to have septic or private sewage disposal systems pumped and inspected
(3) �Buyer�Seller shall pay to have domestic wells tested for water potability and produdivity
(4) �Buyer�Seller shall pay for a natural hazarcl zone disclosure report prepared by Flfst AI»@r/C8n Of�m ar
(6) �Buyer�Seller shall pay for the following inspection or report tlome Insdectiort Report
(6) �Buyer Q Seller shall pay for the following inspection or report
8. GOVERNMENT REf�U1REMEWTS AND RETROFIT:
(1) 0 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 wmpliance in accordance with state and local Law,unless exempt.
(2) �Buyer�Seller shall pay the cost of compliance with any otfier minimum mandatory govemment 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 Esch to eav hialher own
Es�xow Holder shall be Foiesite EscroW
(2) 0 Buyer�Seller shall pay for owner's title insurance policy spedfied in paragraph 12E
Owner's title policy to be issued by First American Titile
(Buyer shall pay for any title insurance policy insuring Buyer's lender,unless otherwise agreed in writing.)
D. OTHER COST3:
(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 RelatBd @@S
(6) �Buyer�Seller shall pay for any private transfer fee
�6j �Buyer�Seller shall pay the cost,not to exceed$ 350.� ,of a one-year home warranty plan,
issued by American Home Shietd ,with the folbwing optional coverages:
Q Air Conditioner�Pool/Spa 0 Code and Permit upgrade �bther. AAD11.�nCss
Buyer is informed that home warranty pfans have many optional coverages in addition to those listed above. Buyer is advised to investigate
these coverages to determine those that may be suitabte for Buyer.
(7) �Buyer�Selter shall pay for
(S) 0 Buyer 0 Seller shal! pay for
Buyers Initials( �( ) Sellers Initials( )( ) �
Copyright O 1991-2tl10,CACTFaRNIA ASSOCIATION OF REALTORS�,INC. �
RPA-CA REVISED 4J10(PACE 2 OF 6) Reviewed by Date ��
arroaTUNirr
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 2 OF 8)
DRAFT
Pfopel'ty Addfess: ��»Vardtn tn or42253 Verdin Ln or74478 Falcon tn or7�BT0 King FlsherClrcle Date:
6. CLOSING AND POSSESSiON:
A. Buyer intends(or Q does not intend)to occupy the Property as Buye�'s primary reside�ce.
B. SeUer-occupied or vacant property:Possession shail be delivered to Buyer at 5 PM or(� �RM�PM),on the date of Close
Of Escrow, �on ;or 0 no later than Days After Ciose Of Escrow.if transfer of tiUe
and possession do not occur at the same time,Buyer and Seller are advised to:(f)enter into a written occupancy agreement(C.A R. Form PAA,
paragraph 2);and(ii)consult with their insurance and iegal advisors.
C. Tenant-oc:cupied property:
(i)Property shadl be vacant at least b(or � )Days Prior to Gose Of Escrow,unless othervvise agreed in writi�g.Note to Seller:
Ii you are unabie to delive�Property vacant in accordance wi#�rent c:ontrol and other applicabie Law,you may be in breach of this
Apreement
OR�tl}(if checked)Q Tenant to remaln in possession.(C.AR.Form PAA,paragraph 3)
D. At Close Ot Escrow,(i)Seller assigns to Buyer any assignable warraniy rigMs for items ancluded in the sale,and(ii)Seller shall Deliver to Buyer
available Copies of warrat�ties.Brakers cannot and wilt not cietermine the assignability of any warranties.
E. At Close Of Escrow, unless otherovise agreed in wnting,Seiler 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 irrterest subdivision, Buyer m,ay be required to pay a
deposit to the Homeowners'Association("HOA"}to obtain keys to accessible HOA facilities.
g, STATUTORY D13C�OSURE3(INCLUDINO LEAD-BASED PAfNT HAZARD DISCLOSURES)AND CANCELLATION RIGHT3;
A. (1) Seller shall,within the time specified in paragraph 14A,Deliver to Buyer,if required by Law:Q)Federal Lead-Based Paint Disclosures(C.AR.
Form FLD)and pampMet("Lead Disdosures");and(11)disdosures or no6ces required by sec�tions 1102 et.seq.and 1103 et.seq. of the Civil
Code ("Statutory Disclosures"). Statutory Disdosures include, but are not limited to, a Rea� Estate Transfer Disdosure Statement("TDS"),
Natural Hazard Disclosure Statement{"IVHD"), notice or actual knowledge of release of illegal controlled substance, no6ce of speaal tax
and/or assessmer�ts(or,if allowed,substantially equivalent notice regarding the Mello-Roos Community Facilities Act and Improvement Bond
Act of 1915)and,if Se�ler has actual knowledge,of industrial use and military ordinance location(C.A.R.Form SPQ or SSD).
(2� Buyer shall,within the fime 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 disdosures, iriformation or rspresentafions previously provided to Buyer, Seller shall promptly provide a su6sequent or
amended disclosure or notice,in wnting,covering those items. Hox�raver,a subsequent or amended dlsclosure shall not be requlred for
condltions and material inaccuracies of which Buyer is otfiervvise aware, or which are disclosed in reports provided to or obtained by
Buyer or ordered and pafd for by Buyer.
(4) If any disdosure or notice specified in 6A(1), or subsequent or amended disdosure or notice is Delivered to Buyer after the offer is Signed,
Buyer shall have the right to cancel this Agreement within 3 Days After Dslivery in person,or b Days After Delivery by deposit in the mail,by
giving written notice of cancellation to Seller or Seller's agent.
(6) Note to Buyer and 3elter.Waiver af 3tatutory and Lead Disalosures is prohlbited by Law.
B. NATURAL AND ENVIRONMENTAL HAZARDS:Within the time specified in paragraph 14A, Seller shall,if required by Law. {i)Deliver to Buyer
eatthquake�aides(and questionnaire)and environmerital hazards booldet; (ii)even if exempt from the obligation to provide a NHD, disclose if
the Property is located in a Speaal Flood Hazard Area; Potential Floo�ng (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earthquake Fault Zone; Seismic Hazard Zone; and(iil)disdose any other zone as required by Law and provide any other
information required for those zones.
C. UVITHHOLDING TAXES: Within the time specified in paragraph 14A, to avad required withholding, Seller shall Deliver to Buyer or qualified
substitute,an affidavit suffident to comply with federal(FIRPTA)and California withholding Law,(C.AR.Form AS or QS).
D. MEGAN'3 LAW DATABA8E DISCLO8URE:Natice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex
offienders 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 cnminal history,this information will indude either the address at which the offender resides or the cammunity 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 Buyers inspection contingency period. Brokers do not have expertise in this
area.)
7. CONDQMINIUMlPLANNED DEYELOPMENT DI8CLOSURES:
A SE��ER HAS:7(or� )Days After Acceptance to disdose to Buyer whether the Property is a condominium,or is located in a
planned development or ot er c�i ommon interest subdivision(C.A.R.Form SPQ or SSD).
B. If the Property is a condominium or is located in a planned developmerrt or other common iMerest subdivision,Seller has 3(or� )
Days After Acceptance to request from the HOA(C.A.R.Form HOA):(i)Copies of any documents required by�aw;(il)disdasure o an�p�ng
or aMiapated daim or litigation by or against the HOA; (fiij a statement containing the loca6on and number of designated parldng and storage
spaces;(iv)Copies of the most recerrt 12 moMhs of HOA minutes for regular and speaa!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 CI Oisclosures received from the HOA
and any CI Disdosures in Seller's possession. Buyer's approval of CI Disdosures is a contingency of this Agreemerrt as specified in paragraph
14B(3).
8. ITEMS INCLUDED IN AND EXCLUDED FROM PURCHA3E PRICE:
A. NOTE TO BUYER AND SELLER:Items listed as included or exduded in the MLS,flyers or marketing materials are not induded in the purchase
price or exclud+ed from the sale unless speafied in 86 ar C.
B. ITEMS INCLUDED IN SALE:
(1) All EXISTING fixtures and flttings that are attached to the Property;
(2) EXISTING electrical, mechanipl, lighting, plumbing and heating fixtures, csiling fans,fireplace inserts, gas logs and gratas, solar systems,
built-in appliances, window and door screens, awnings, shutters, window coverings, attached floor coverings, television antennas, satellite
dishes, private integrated telephone sys2ems, air cooiers/condifioners, poaUspa equipmerrt, garage door openers/remote controls, mailbox,
in-ground landscaping,trees/shrubs,water softeners,water purifiers,security system�alarms;{If checked�stove(s), �refrigerator(s);and
(3) The following additiotial items: Solar eyate� if sa �quippod.
(4) Seller represents that all items included in the purchase price,unless otherwise specified,are owned by Sel�er.
(6) All items induded shall be transferred free of liens and writhout Seller warraniy.
C. ITEMS EXCLUDED FROM SALE:Unless othervvise spe�ed,audio and video components(such as flat screen TVs and speakers)are exduded
if any such item is not itself attached to the Property,even ff a bracket or other mechanism attached to the component is attached to the Property;
and
Buyer's Initials( )( ) SeNer"s Initials( )( ) �
CapyrigM�1991-2010,CAL�N�A A5SOClAT10N OF REALTOR9�,INC. �
RPA-GA REVISED 4J10(PAGE 3 OF 8) Reviewed by Date �p��
CALIFORMIA RESIDENIIAL PURCHASE AGREEMENT(RPA-CA PAGE 3 OF 8�
DRAFT
Propetty Add�ess: 42071 Verdfn Ln or 42253 Verd/n Ln or T�4T8 Falcon Ln or 74@70 King Flsher C�ro Date:
8. CONDITION OF PROPERTY:Untess othervuise agreed:(q the Property is sold(a}in its PRESENT physical�"as-is")condition as of the date ot
A+�eptance and(b�subject to Buyer's Investigation riphts;(ii}the PropeRy,including pooi,spa,landscaping and grounds,is to be maintained in
substantiaAy the same oondition as on the date of Acceptanoe;arid(iii)all debris and personal properiy not included in the sale shall be removed by
Seller by Close Of Escrow.
A. Seller shall,within the time specified in paragraph 14A, DISCLOSE KNOWN MATERIAL FACTS AWD DEFECTS affecting the Property,including
known insurance daims within the past five years,and make any and all other disciosures required by law.
B. Buyer has the right to inspect ihe Property and,as specified in paragraph 14B,based upon information discovered in those inspections:(i}cancel
this AgreemeM;or(ii)request that Selfer make Repairs or take other acHon.
C. Buyer is strongly advlsed to conduc!investigations of the eetire Property in order to determine its present condition.Seller may not be
aware of afl defects aMecting the Property or other factors tl�at Buyer conslders important.Property improvements may not be buiit
accordinp to code,!n compliance with current Law,or have had permits issued.
10.BUYER'S INVESTIGATION OF PROPERTY AND NWTTERS AFfECTING PROPERTY:
A. Buyer's acce�ance of the condition of, and any other mstter affecCing the Property, is a eorrtingeney of this Agreement as specified in this
paragraph and paragraph 14B.Within the time speafied in paragraph 14B(1), Buyer shall have the right, at Buyer's expense unless otherwise
agreed,to condud inspections, investigations,tests,sutveys and other studies("Buyer Investigations"), including, but not limited to,the right to:
(1) inspect for lead-based paint and other lead-�sed paint hazards; (ii} inspect for wood destroying pests and organisms; (111) review the
registered sex offender database; (lv)confirm the insurability of Buyer and the Property;and(v)satisfy Buyer as to any matter specitied in the
attached Buyer's Inspection Advisory{C.A.R.Form BIA).Without Seller's prior written consent,Buyer shall neither make nor cause to be made:(IE
invasive or destrudive Buyer I�vestigations;or(if)inspections by any govemmental building or zoning ins�ctor or govemment employee,unless
required by Law.
B. Seller sha11 make tfie Property available for all Buyer�nvestigations.Buyer shaA(ij as specified in paragraph 14B,complete Buyer Investigations
and,either remove the contingency or cancel this Agreement,and{l�give Seller,at no cost,complete Copies of all Investigation reports obiained
by Buyer,which obligation shall survive the termination of this Agreement.
C. Seller shall have water, gas, electricity and all operable pilot lights on for Buyer's Investigations and through the date possession is made
available to Buyer.
D. Buyer indemnky and Seller protection tor entry upon property:Buyer sfiall:�n keep the Property free and clear of liens;(U)repair all damage
arising from Buyer Investigations;and fiil)indemniry and hold Seller harmless from all resutting liability,claims,demands,damages and costs of
Buyers investigations. Buyer shall carry, or Buyer shall require anyo� ading on Buyer's behalf to carty, policies of liability, workers'
compensation and other applicable insurance,defending and protecting Seller from liabiliry for any injuries to persons or property occurring during
any Buyer Irnestigations or work dane on the Property at Buyers direction prio�to Close Qf Escrow.Seller is advised that certain protections may
be afforded Seller by recording a"'Notice of Non-responsibility"(C.A.R. Form NNR)for Buyer Investigations and work done on the Property at
Buyers direction.Buyer's obligations under this paragraph shall survive the termination or cancellation of this Agreement and Close of Escrow.
11.3ELLER DI8Cl.03URE3;ADDENDA;ADVISORIE3;OTHER TERM3:
A. Seller Disclosures(If eheckedl:Seller shall,within the time specified in paraqraph 14A,complete and provide BuVer with a:
❑Seller Pro Questionnaire(C.A.R.Form SPQ OR ❑Su emental Cor�tractual and Statuto Disclosure C.A.R.Form SSD
B. Addend8 if CheCked : Addendum#1 {C.A.R.Form ADM)
Wood Destroying Pest Inspedion and Allocation of Cost Addendum(C.A.R.Form UVPA)
❑Purchase A reement Addendum(C.A.R Form PAA ❑Septic,Wel�and Property Monument Addendum(C.A.R.Form SWPI)
Short Sale Addendum(C.A.R.Form SSA) Other
C. Advisories{if eheeked): 0 Buyer's Inspection Advisory(C.A.R.Form BIA}
❑Probate Advisory(C.A.R.Form PAK) ❑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 VESTING:
A. WRhin the time spec�ed in paragraph 14, Buyer shall be provided a current preliminary title report,which shall include a search of the General
Index.Seller shall within 7 Days After Acceptance give Escxow 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 aiiectir�title. Buyer's review of the preliminary report
and any other matters which may affect title are a contingency of this Agre+ement as specified in paragraph 146.
B. Title is taken in its present condition subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other matters,
whekher of record or not,as of the date of Acceptance except:(i) monetary liens of recard unless Buyer is assuming those obligations or taldng
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, Seller has a duty to disclose to Buyer all matters known to Seller affecting tdle,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 Seller's leasehold interest}, including oil, mineral and water rights if currently owned by Seller. Trtle shall vest as designated in
Buyers sup�emental escxow instructions.THE MANNER OF TAKING TI7LE MAY HAVE SiGNlFICANT LEGAI AND TAX CONSEQUENCES.
CONSULTAN APPROPRIATE PROFESSIONAL.
E. Buyer sha8 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, survey requirements, and cost of various titie insurance coverages and endorsements. If Buyer desires title
coverage other than that required by khis paragraph,Buyer shall instruct Escrow Holder in writing and pay any increase in cost.
13.8ALE OF BUYER'S PROPERTY:
A. This Agreement is NOT corrtingent upon the sale of any property owned by Buyer.
OR B. �(If checked):The attached addendum(C.A.R. Form COP}regarding the contingertcy for the sale of property owned by Buyer is incorporated
iMo this Agreement.
Buyer's Initials(�_)( ) Seller's Initials( )( ) �
Copyright81991-2010,CALlFOf2N1A ASSOCIATION OF REALTORSO,INC. .
RPA�A REVI3ED 4/10(PAGE 4 OF 8y Reviewed by Date �T�
CALIFORNIA RESiDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 4 OF 8y
DRAFT
Pfopefty Address: +Z��t Verifln Ln or 42233 Uend/n Ln w 7�78 Falcon Ln or T48T0 Kfng Fisher Cfr�c Date:
1A.Tilll� PERIODB; REMOUAL OF CONTtNGfNCIES; CANCELLATWN RiGHT8; The following tBne pericds may only be extended, altered,
modifled or chanped by mutuai written agreemenl.Any removal o!corKingenaies or cancellation under this paraqraph 6y elther Buyer or
Selier must be exercised in yood tahh and in writin{�(C,A.R.Form CR or CC),
A. SELLER HA8: 7�or� 15 )Days ARer Acceptance to Deliver to Buyer alI Reports,disclosures and information for which Seller is
responsible under peragraphs 4,6A,B and C,7A,9A,11A and 8,and 12.Buyer may give Seller a Notice to Seiler to Perform(C.A.R.Form NSP)
if Seller has not Delivered the items within tF�time specified.
B. (1) BUYER HA3: 17{or� �Days After Aoceptance,unless otherwise agreed in writing,to:
�) complete all Buyer irwestigations;approve ali disclosures,reports and other applicable information,which Buyer receivss hom Seller;and
approve all other matters affecting tlie Property;and
(ii) Deliver to Seller Signed Copies of Statutory artd Lead Discbsures Defivered by Se11er in accordance with paragraph 6A.
(2) Within the time speafied'+n 14B{1), Buyer may request that Seiler make repairs or take any oiher action regarding the Property(C.A.R.Form
RR).Seller has no obligation to agree to or respond to Buyer's requests.
(8) VY�thi�the time �peafied in 14B{t) (ar as othenr�ise apec'rf'red in this f�qreemeM), Buyer sha11 Delnrer ta S�Ikr either{i) a removal of the
applicable contingency (C.A.R. Form CR),or{ii)a cancellation (C.A.R. Form CC) of this Agreement based upon a contingency or Seller's
failure to Deliver the specified items.However,if any report,disclosure or information for which Seller is responsible is not Delivered within the
time specified in 14A,then Buyer has b(or� )Days After Delivery of any such items,or the time specified in 14B(1),whichever
is later,to Deliver to Sel�er a removal ofthe applicable contingency or cancellation of this Agreement.
(4} ContlnuatFon oi Contingency:Even after the end of the time specified in 14B(1)and before Seller cancels this Agreement,if at all,pursuant
to 14C, Buyer retains the right to either(i)in writing remove remaining contingencies,or(iij cancel this Agreement based upon a remaining
contingency or SeNer's failure to Deliver the specified terms. Once Buyer's written removal of all contingencies is Delivered to Seller, Seller
may not cancel this AgreemeM pursuant to 14C(1}.
C. SELLER RIGHT TO CANCEL:
(1� Seller ripht to Cancel; Buyer Cantingencies: If, within time specified in this Agreement, Buyer does not, in writing, Detiver to Seller a
removal of the applicable corrtingeney or cancellation of this Agreerr�M then Seller,a8er first Delivering to Buyer a Notice to Buyer to Pertorm
{C.A.R.Form NBP)may cancei this Agreement.In such event,SeNer shall authorize retum of Buyers deposit.
(2} 3eller rlght to Cancel;Buyer Contract Obligatlons:Seller,after first Delivering to Buyer a NBP may qncel this Agreement for any of the
following reasons:{t)if Buyer fails to deposit funds as required by 3A or 3B;(ii)if the funds deposited pursuant to 3A or 36 are not good when
deposited; (ifi)if Buyer faits to Deliver a notice of FHA or VA costs or terms as required by 3C(3)(C.A.R. form FVA); (I�if Buyer fails to
Deliver a fetter as required by 3H;(v)if Buyer fails to Deliver verification as required by 3G or 3J;(vi)if Seller reasonabty disapproves of the
verification provided by 3G or 3J;(vii)if Buyer fai{s to retum Statutory and Lead Disclosures as required by paragraph 6A(2);or(viii)if Buyer
fails to sign or initial a separate liquidated damage form for an increased deposit as required by paragraphs 3B and 25. In such event, Seller
shall authorize retum of Buyer's deposit.
(3) Notice To Buyer To Perform:The NBP shall:(I}be in writing;(ii)be signed by Seller;and(ili)give Buyer at Ieast 2{or❑ )Days
After Delivery(or until the time specified in the applicable peragraph,whichever occurs last}to take the applicable adion. may not be
Delivered any earlier than 2 Days Prior to the expiretion 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 REAAOVAL OF CONTINGENCIE3: If Buyer removes, in writing,any contingency or cancellation rigMs, unless othervuise
speafied in a separate written agreement between Buyer and Seller,Buyer shall with regard to that contingency or cancellation right conclusively
be deemed to have:(i)completed all Buyer Investigations,and review of reports and other appiicable information and disclosures;(it)elected to
proceed with the transadion;and{lil)assumed all liabilfty,responsibility and expense for Repairs or corredions 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 ciose escrow pursuant to this
Agreement,Seller or Buyer must first give the other a demand to dose escrow(C.A.R.Form DCE).
F. EFFECT OF CANCEl1ATION ON DEPOSIT3: 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
party entitled to the funds, less fees and costs incurred by that party. Fees and costs may be payable to service providers and vendors for
services and products provided during escrow. Release ot funds wlll require mudial Signed release instruetions irom Buyer and Seller,
judlclal dedslon or arbltratlon award. A Buysr or Seller may be subJect to a clvll penalty of up to 51,000 for refusal to slgn such
Instructtons if no good taith dlspute exlsts as to who is entltled to the deposited funds(Clvll Code§1087.3).
16. REPAIR8: Repairs shall be completed prior to final verification of condition unless otherwise agreed in writing. Repairs to be pertormed at Seller's
expense may be performed by Seller or through others, provided that the work complies with applicable Law, including govemmental permit,
inspedion and approval requirements. Repairs shall be performed in a good,skillful manner with materials of quality arxl appearance comparable to
existing materials. It is understood thai exact restoration of appearance or cosmetic items foltowing all Repairs may not be possible. Seller shall:(i)
obtain reoeipts for Repeirs pe�Formed by others; (tlj prepare a written statement indicating the Repairs performed by Seller and the date of such
Repairs;and(ili)provide Copies of receipts and statements to Buyer prior to final verification of condition.
�g, FINAL VERIFICATION OF CONDITION:Buyer shall have the right to make a final inspection of the Property within 6{or )Days Prior
to Close Of Escrow, NOT AS A CONTIPIGENCY OF THE SALE, twt solely to oonfirm: (I)the Property is maintained pursuant to paragraph 9; (II)
Repairs have been completed as agreed;and(iii)Seller has complied with Seller's other obligations un�r this Agreement(C.A.R.Form VP).
17. PRORATION8 OF PROPERTY TAXES AND OTHER ITEMB:1lnless otherwise agreed in writing,the following items shall be PAID CURRENT and
prorated between Buyer and Seller as of Cfose Of Escrow:real property taxes and assessments,interest,rents,HOA regular,special,and emergency
dues and assessments imposed prior to Cbse Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and assessments
assurr�d by Buyer,and payments on Mello-i2oos and other Special Assessment District bonds and assessments that are a current lien.The following
items shall be assumed by Buyer 1MTHOUT CREDIT toward the purchase price: prorated payments on Mello-Roos and other Special Assessment
District bonds and assessments and HOA speaal assessments that are a current lien but not yet due. Property wrili be reassessed upon change of
ownership.Any supplemental tax bills shall be paid as follows:{i)for periods after Close Of Escrow, by Buyer,and(ii)for periods prior to Close Of
Escrow,by Seqer{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 shal!be made based on a 30-day mor�th.
Buyer's Initials( ){ ) Sellers Initials( )( ) �
Copyright 01991-2070,CALIFORNIA ASSOCIATION OF RFALTOR9�,INC.
RPA-CA REVISED 4/10(PAGE 6 OF 8) Reviewed by Date �T�
CALIFORNIA RESIDENTIAL PURCNASE AGREEMENT(RPA-CA PAGE 5 OF 8)
DRAFT
Property Address: <Y07?Vendin Ln or 42253 Verdln Ln or 74478 Falcon!n or T4670 King F/sher Circ pate:
18.3ELECTION OF SERVMGE PROVIDERS: Brokers do �ot guarantee the performance of any vendors, service or product providers("Providers"),
whetfier reierred by Broker or selec�ed by Buyer,SeNer or other person.Buyer and Setler may setect ANY Providers ofitheir own choosing.
18.MULTIPLE LISTING 8ERVICE f"MLS"):Brokers are authorized to report to the PALS a pending sale artd,upon Close Of Escrow,the sales price and
other terms of this trensaction shall be provided to the MLS to be published and diss+eminated to persons and entities authorized to use the
information on terms approved by the PALS.
20.EQUAL HOUSING OPPORTUNITY:The Property is sold in aompliance with federal,state and local anti-discxirrnnation Laws.
21.ATTORNEY FEES: In any action, proceeding,o�arbitration between Buyer and Seller arising out of this Agreement,the prevailing Buyer or Seller
shalt be entitled to reasonable attomey fees and costs from the non-prevailing Buyer or Selter,except as provided in peragraph 26A.
22.DEFINITNDNB:As used in this Agreement:
A. "Acceptance"rr�eans the time the offer or fitial counter oPFer is accepted in writing by a party and is delivered to and personally received by the
othet party or that party"s authonzed agent in acoordance with the terms of this offer or a final crounter offer.
8. "C.A.R.Fonn"means the specific farm referenced or another comparsble form agraed to by it�parties.
C. "Close Ot Escrow"means the date the grant deed,or other evidence of transfer of fitle,is rewrded.
D. "Copy"means copy by any means including�otocopy,NCR,facsimile and electronic.
E. "Days" means calendar days. However,After Aoceptance,the last Day for perFormance of any act required by this AgreemeM(including Close
Of Escrow)shall not indude any Saturday,5unday,or legat holiday and shall inskead 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 oacurs,and ending at 11:59PM on the final day.
G. "Days Prlor"means the specified number of calendar days before the occurcence of the event specified,not counting the calendar date on which
the specified ever�t is scheduled to occur.
H. "Deliver","Delivered"or"Delivery",regardless of the method used(i.e.messenger,mail,email,fa�c,other),means and shall be effedive upon
(i)persorral receipt by Buyer or Seller or the individual Real Estate licensee for that principal as specified in paragraph D of the section titled Real
Estate Brokers on page 8;OR(ii)if checked,�per the attached addendum(C.A.R.Form RDN).
I. "Electronic Copy"or"Electtonic 8ignature" means,as applicable,an electronic copy or signature complying with California Law. Buyer and
Seller agree that electronic means will not be used by either party to modify or alter the cantent or integrRy of this Agreement without the
knowtedge and conseM of the other party.
J "Law"means any law,c,ode,statute,ordinance,regulation,rule or order,which is adopted by a controlling cRy,county,state or federal Iegislative,
judicial or executive body or age�cy.
K. "Repairs"means any repairs(including pest control),atterations,replacements,modifications or retrofitting of the Property provided for under this
Agreement.
L "Slgned"means either a handwritten or electronic signature on an original document,Copy or any counterpart.
23.BROKER CONPENSATION: 5etler 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 if escrow does not cbse, as otherwise
specified in the agreement between Broker and that Seller or Buyer.
24.JOINT ESCROW INSTRUCTION8 TO ESCROW HOLDER:
A. The following paragraphs,or applicable poRlons thereot,of thls Agreement constitute the jolnt escrow instrucdons oi 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
close the escrow:1,3,4,6C,11 B and D,12, 13B,14F,17,22,23,24,28,30,and paragraph D of the section titled Real Estate Brokers on page
S.If a Copy of the seperate 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 of Buyer's 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
speafica►ly referenced above, in the speafied paragraphs are adddional matters for the information of Escrow Holder, but about which Escrow
Holder need not be concemed. Buyer and Seller will receive Escrow Holder's general provisions diredly from Escrow Holder and will execute
such provisrons upon Escrow Holder's request.To the extent the general provisions are inconsisterrt or conflict with this Agreement,the general
provisions will coMrol as to the duties and obligations of Escrow Holder only. Buyer and Seller will execute additional instructions,documeirts and
forms provided by Escrow Holder 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 Seller's Statement of
Information to Tdle company when received from Seller. Buyer and Seller authorize Escrow Holder to accept and rely on Copies and Signatures
as defined in this Agreemerrt as originals,to open escxow and for other purposes of escrow.The validity of this Agreement as between Buyer and
Seller is�ot affected by whether or when Escrow Holder Signs this Agreement.
C. Brokers are a perty to the escrow for the sole purpose of compensation pursuant to paragraphs 23 and paragraph D of the section tiGed Real
Estate Brokers on page 8.Buyer and Seller irrevocably assign to Brokers compensation specified in paragraphs 23,respedively,and irrevocably
instruct Escrow Holder ta dislxarse those funds to Brokers at Close Of Escrow or pursuant to any other mutually executed cancellation agreement.
Compensation instrudions can be amended or revoked only with the written consent of Brokers.Buyer and Seller shall release and hold harmless
Escrow Hoider from any liability resulting from Escxow Holder's payment to Broker(s)of comQensation pursuant to this Agreement. Escxow Holder
shall immediately notify Brokers: (i)if 8uyer's initial or arry addNional deposit is not made pursuaM to this Agreement,or is not good at time of
deposit with Escrowr Nokler;or(ii)if either Buyer or 5eller instruct Escrow Holder to pncel escrow.
D. A Copy of any amendment that a#fects any peragraph of this AgreemeM for which Escrow Holder is responsible shall be delivered to Escrow
Holder within 2 business days after mutual execution of the amendment.
Buye►'s Initials( )( ) Seller's Initiats( )( ) �
Copyright O 7991-2010,CALIFORNIA ASSOCIATION OF RERLTORS�,INC.
RPA-CA REVISED 4l10(PAGE 6 OF 8)Print Date Reviewed by �ate ���
CALIFORNIA RESiDENTIAL PURCHABE AGREEMENT(RPA-CA PAGE 6 OF 8)
DRAFT
Property Address: {�7�YeM�rt Ln or 42253 Verr�ln Ln or 7�478 Fatcon tn or 741870 King Fisher Clrc Date:
26.LI(lU1DATfD DAMAGES: If Buyer fails to complete this purchase because of Buyer's default, Seller shall retain, as
liquidabed damages,the deposit actually paid.If the Property is a dwelling with no more than four unita,one ot which Buyer
intends to occupy,then the amourrt r�ained shall be no more than 3%of the purahase price.Any excess shail be returned
to Buyer. Release of funds will require mutual,Signed rel,ease instructions from bo#h 8uyer and Selisr,judicial decision or
arbitration award. AT 1iME OF THE INCREASED DEPOSIT BUYER AND SELLER SHALL SIGN A SEPARATE UQUIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT.(G.A.R.FORM RiD).
Buyer's Initiais ! 3NIer's initials /
26. DISPUTE RESOLUTION:
A. MEDIATION:8uyer and Se)ler agree to mediate any dispute or claim arising between them out of this Agreemerrt, or any resutting transaction,
before resorting to arbifraiion or wurt action.Buyer and Seller also agree to mediate any disputes or alaims with Broker�s),who,in wrking,
ayros W such madlatfon prior!o,er wkhin a�easonable tkne a�ter,the dispute or claim is prasairted to the Brok+er.Mediation fees,if any,
shall be divided equally among the parties involved.If,for any dis}wte or daim to which this paragraph applies,any party(i)commences an action
without first attempting to resolve the matter through med�ation,or(ii)before commencement of an action,refuses to mediate after a request has
been made,then that party shall not be entitled to reoover attomey fees,even if they would othervvise be avaiiable to that party in any such action.
THIS MEDIATION PftOVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION!S INITIAIED.Excluslons hom thls medlatlon
agraarrient are specified in pc�ragraph 26C.
B. ARBITRATION OF DISPUTES:
Buyer and Seller �ree that any dispu#e or claim in Law or equity arising between them out of thts Agreement or any
resulting transaction,which is not settled through mediation,shall be decided by neutral, binding arbitration. Buyer and
5eller also agree to arbitrabe any disputes or claims with Broker(s},who, in writing,agree to such arbitration prior to,or
within a reasonable time atter,the dispute or claim is presented to the Broker.The arbitraEor shall be a retlred 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 accorclance with Code+ot Civil Procedure§1283.Ob.
In all other respects, the arbitration shall be canducted in accordance with Title 9 of Part 3 of the Code of Civil
Prooedure.Judgment upon the award of the arbitrator(s)may be entered inta any court having jurisdiction. Enforcement
of this agreement to arbitrate shall be governed by the Federal Arbitration Act. Exclusions from this arbitration
agreemen!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 NEUTRA�ARBITRATION
AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE
DISPUTE LITIGATED IN A CC3URT 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 Initials ! Seller's Initiols !
C. ADDITIONAL MEDIATbN AND ARBITRATION TERMS:
(1) EXCLU810NS:The following matters shall be excluded irom rnediation and arbitration: (i)a judiclal or non�udicial Toreclosure or
other actfon or proceeding to entorce a dead of trust,morteage or instal6nent land sale contract as definsd in Civil Coda§2886;(il)
an unlawtul detainer aation;(iii)the flling or enforcement of a mechanic's lien;and(iv)any matter that is wkhin the jurisdiclion ot a
probate, small clalms or bankruptcy court. The flling of a court aetlon to enable the recording of a notkx ot pending actlon,for
ordar of attachmer�t, recelvershlp, injunction, or other provisional remedies, shall not constitute a waivar or vfolatioo of the
mediation and arbitration provfsions.
(2) BROKER8:Brokers shall not be obligatad or compelled to msdiate or arbftrate unless they agrae to do so in wriling.Any Broker(s)
par�clpatinp in mediation or arbltration 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 terms and condfions. The liquidated damages paragraph or the arbitration of disputes
paragraph is incorporated in this Agreement if initialed by all patties or if incorporated by mutual agreement in a counter offer or addendum.If at least
one but not all parties initial such paragraph(s), a oounter offer is required until agreement is reached. Seller has the right to continue to offer the
Property for sale and to acce�arry other offer at any time prior to notification of Acceptance.If this offer is accepted and Buyer subsequently defauks,
Buyer may be r�sponsible for payment of Brokers'compensation. This Agreement and any supplement, addendum or modification, inctuding any
Copy,may be Signed in two or more counterparts,all of which shall constitute one and the same writing.
28.TIME OF EBSENCE; ENTIRE CONTRACT;CHANGES: Time is af the esse�e. All understandings between the parties are incorporated in this
Agreemeni. Its terms are intended by the parties as a final,comple#e and exctusive expression of their Agreement wfth respect to its subject matter,
and may rrot be oontradicted by evidence of any prior agreement or contemporaneous oraf agreement.if any provision of this Agreement is held to be
ineffedive or invalid,the remaining provisions will nevertheless be given full force and effect. Except as otherwise specified,this I\qreement shall be
interpreted and disputes shall be resolved in axordance with tfie laws of the State of California.Neither thls ApreemeM nor any provision In it
may be exter�ded,xnended,modiifesl,altered or chanped,except in writing Sipned by Buyer ar�d Setier.
Buyers Initiats( )( ) Seller's Initials( )( ) �
CopyrigM01991•2(?10,CALIFORNIA ASSCIGIATION OF REALTOR9�,WC.
RPA-CA REVISED 4/18(PAGE 7 OF 8) Reviewed by Daie �T�
CAUFORNIA RESIDEN7IAL PURCHASE AGREEMENT{RPA-CA PAGE 7 OF 8)
DRAFT
Properiy Address: a2(►lt Verdtrt Ln or 42233 VeraNn Ln or 7�78 Fatcor,tn or 7s67o xing Fisher Circ pate:
29. EXPIRATION OF OFFER:This offer shall be deemed revoked and the deposit shall be retumed unless the offier is Signed by Seiler and a Copy of the
Signed offer is personaliy received by Buyer,or by ,who is
authorized to receive it, by 5:00 PM on t e t i ay a er Y is o r �s sign y uyer or, i c e ed,('� by
�AM 0 PM,an (c�ate)).
Buyer has read and acknowledges receipt of a Copy of the offer and agrees to tfie above confirmation of agency relationships.
Date Date
BUYER A qua/ified buyer of!ow ar moderate income BUYER
Print name) (Print name)
(Address)
❑Additional Signature Addandum attached(C.A.R.Fottn ASA).
30.ACCEPTANCE OF OFFER:Selier warrants that Seller is tfie owner of the Property,or has the authority to execute this Agreement.Selier accepts the
above offer,agrees to seil the Property on the above terms and conditions,and agrees to the above confirmation of agency relationships. Seller has
read and acknow�dges receipt of a Copy of this Agreement,and authorizes Broker to Deliver a Signed Copy to Buyer.
❑pf checked)SUBJECT TO ATTACHED COUNTER OFFER(C.A.R.Form CO)DATED: .
Date Date
SELIER Palm Desert`Houstng Authorfty SELLER
(Print name) Print name)
(Addreas)
❑Additional Signature Addendum attached(C.A.R.Form ASA).
< < ) CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was personally received by Buyer or Buyer's authorized
{Initiats) agent on{date) at �AM �PM.A binding Agreement is created when
a Copy of Signed Acceptance is per�onally received by Buyer or Buyer's authorized agent whether or not confirmed in
this document.Completion of this confirmation is not legaily 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 Seiler.
B. Agency reFationships are confirmed as stated in paragraph 2.
C. If specified in paragraph 8A(2),Agent who submitted the offer#or Buyer acknowiedges receipt o#deposit.
D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker(Seiling Firtn) and Cooperating Broker agrees to
accept, out of Listing Broker's proceeds in escrow:(i)the amount specified in the MLS, provided Cooperating 8roker is a Participant of the MLS in
which the Property is offered for sale or a reciprocal MLS;or(ii)�(if checkedj 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 DLT)may be used to document that tax reporting
will be required or that an exemption exists.
Re�eh�3leNa�Broker(Selling Firtn) DRE Lic.#
By DRE Lic.# Date �
Atltlr�99 City State Zip
Telephone ax -mai
Real Estate Broker(Listing Firm) DRE Lic.#
By ic. Date
Address ity State Zip
Telephone a�c -mai
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Hoider acknowledges receipt of a Copy of this Agreement,('rf checked,�a deposit in the amount of$ ),
counter offer numbered , �Sellers 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 Ho�der Foresite Escrow Escrow#
By ESth Date
Ad ress
Phone/Fa -mai
Escrow Holder is licensed by the California Department of�Corporations,�Insurance,�Real Estate. License #
PRESENTATION OF OFFER:( �Listing Broker presented this offer to Seiler on (date).
Broker or Designee Initials
REJECTION OF OFFER:( 1( )No counter offer is being made.This oHer was rejected by Seiler on (date).
Seller's Initials
THIS FORM HAS BEEN APPR01/ED BY T}1E CAUFORNIA ASSOCIATlON OF REALTORS�(C.AR.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR AOE�UACY OF ANY
PROVISION IN ANY SPECIFIC TRANSACTItNJ.A REAL ESTATE BROKER 15 THE PERSON�UALIFIED TO ADYiSE ON REAI ESTATE TRANSACT10N5.iP YOU DESIRE LEGAL OR TAX ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL.
This fortn is available for use by the eMire real estate inUustry.tt is rwt intended to itlentify the user as a REALTOR�.REALTOR�is a registeretl collective membership mark which may De us�only by
members of the NATIONAL ASSOCIATION OF REALTORS�who subsaibe to its Code�EMics.
, Pul�ished and Distributed by:
■ REAL ESTATE BU5INESS SERVICES,�NC. Reviewed by �
� as�dsnfia�yd�eCaiG�riaAssociadandi�4tTOR9�
m 525 South V' il Avenue,Los A eles,Cal'rfomia 90020 eroker or Designee Date ��
� � orroatuxitv
REVISION DATE 4110
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 8 OF 8)
DRAFT
CALIFORNIA
� ASSOCIATION ADDENDUM
� OP REAL'I'ORS�
(C.A.R.Form ADM,Revised 10/01) NO. }
The following tertns and conditions are hereby incorporated in and made a pa�t of the: � Residential Punchase Agreement,
p Manufactured Home Purchase Agreement, ❑ Businesa Purchase Agreemerrt, O ResidenNal Lease or Month-to-Month Rental
Agreement, ❑ Vaca�t Land Purchase Agreement, ❑ Residential Income Property Purchase Agreement, ❑ Commerdal Property
Purchase Agreament, p other
74670/Gna her Ci� ��n property krtown as 42aT 1 Verdin Cn or 42253 Verdin Ln or 74478 n Ln or
����►uafifi�bu er o w ar m ra �ncome is referred to as("BuyeNTenanY')
and a m e ousmg on is referred to as("Seiler/LandtorcJ").
The sale ef thfs�is subiect to a rzubtic he�rina sche�uled for JuRe 7 0!
i'his ve a estrrcdve en a u mus execw e a r+ec s su ,/
neilr in vor e a ousmg u ous�ng u tnc g no
lfin to a .Anmatv r revu en ,re res ns a a o e
the Housinp�o r,amonn otl�er rsesbictions.
o a m an e ousrn __u o max pro wn paymen assrs nce ensure an a a
b9lLi�/Q�cos�such loan+nav be silent for alJ or vart of the��e 1oan. e�olassistance r►n7�but
uiiH hsA in an am[fa�M hf ns�enrp�If 9/�Ardab/e hQL�S1If0 C'OSt/�E�lflBd L�ltdBf L'-�/f�017!%a'S El�r3/U!alfd��tl/COd@S sill(�
rcntiAgwit on�o f►rirsarir-loan aE►}xava�
As is a governmen en not su Ject o r+ea prop es,no prora R e m roug escrow
for this nurflnse. Buyer is res,nonsible trom tl►e date of escrow closina for real anvnertv taxes e an recerve
8 P.�.f AY Rj�f'I!I'IPf`I fflflA7 fl7f►TAY CAIIM_IA!'�Q�CP_
The foregoing terms and aonditlona are hereby agreed to,and the undersigned acknowledge receipt of a copy of this document
Date Oate
BuyedTenant A aualified buver of low or moderate inco►ne �11e���bro Pa/m Desert Housing Authority
Buyerlrenant SelledLandlord
The copydpM lawa of tlw Urritad Stetea(TiBe 17 U.S.Cods)Porbid the unaulhorized roprodudion ot this�om�,or 8ny portion theroof,�y pnaocoay m.arr,e or.�y aner mearu,
InGuding faceirt�b or oompuf.rized fart�ts,CopyriphtO 1986�2001,CALIFORNW ASSOCWTION OF REALTORS�,INC.ALL PoGHTS RESERVED.
THIS FORAA HAS BEEN APPROVEO BY THE CALIFORPNNA ASSOCIATION OF REALTORS�(CA.R.).PIQ REFRESEWTATION IS MAOE AS TO TF�LEGAL VALIDITY OR
ADEGUACY OF ANY PROVISION BV ANY 3PECIFlC TRANSACTION.A REAL ESTATE BROKER !S TF� PERSON QUAlIF1ED TO ADVISE ON REAL ESTATE
TRANSACTtONS.�YOU DESIRE LEGAL OR TAX ADViCE,CONSULT AN APPR�RIATE PROFESSIONAL.
Ttds fortn is av�fi�ds fa ues by ths eMirs rem estate ln�ctry.It Is not Irkended to Identify 1he user as a REALTOR�.REALTOR�fs a�eqisterod caNecdve msmberahip mark
wMeh mayr be used aYy by mombere d ihe NATIONAL ASSOCIATION OF REALTOR�who�ub�cribe to 9s Code�Ethtm.
� PuWiehed and QlebibuMd by:
M REAL ESTATE BUSINESS SERVICES,INC.
a a�+l�a'ary o/fhe CA!lFORNfR ASSOC/ATI�V OP REALTOR� R�bY �
c 525 South WgN Averwe.Loa Anpebs,Cal'domia 900Z0 Broker a Dealgnae Oeb
ADM-17 REVISED 10/01(FA(3E 1 OF 1j �rr
ADDENDUM(ADM-11 PAGE 1 OF 1)
Gilieran Gri�n Company i 575 Weslwood Bivd.A300, Los Mgcies CA 90024
Phone:(310)478-1835 Fex: (310)4T&2135 Gilkran Griftin Company ,.z[x
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 hol�d a Public Hearing to consider the approval of the DRAFT
Residential Purchase and Sale Agreement (the "Purchase and Sale AgreemenY')
by and befinreen the Authority, as seller, and a person or family of low or
moderate income, as buyer. The DRAFT Purchase and Sale Agreement will be
utilized for each of the four (4) single-family residences owned by the Authority
located at 42071 Verdin Lane, 42253 Verdin Lane, 74478 Falcon Lane and
74670 King Fisher Circle, Palm Desert, CA 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.
Said Public Hearing will be held as follows:
DATE: Thursday, June 27, 2013
TIME: 4:00 P.M.
PLACE: City of Palm Desert
City Hall Council Chambers
73-510 Fred Waring Drive
Pafm 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, Califomia 92260.
Dated: June 11, 2013
RA EL E D. KLASSEN, ECRETARY
PALM DESERT HOUSING AUTHORITY
G:�C(tyCIrklGbria SanchezlLEGAL NOTICES�PH 06272013-FC I.ols 18 36 49 and 69.doc
Sanchez, Gloria
From: Moeller, Charlene[CMOELLER@palmspri.gannett.com]
Sent: Tuesday, June 11, 2013 3:27 PM
To: Sanchez, Gloria
Subject: RE: Legai Notice-Public Hearings 06/27/2013-Faicon Crest
C�
Ads received and will publish�n date(s) rEqucsted.
Charlene Moelier � Media Sales Lega1 Notice Coordinator
The Desert Sun Media Group
750 N. Gene Autry Trail, Palm Springs, CA 92262
t 760.778.4578 � f 760.778.4731
Ieqals �,thedesertsun.com /dpwle�ais@thedesertsun.com
The Coachella Valley's#1 Source in News&Advertising!
www.mvdesert.com � twitter (:��»,�yt=�e����!� ; facebook f��y[�f����;����;:.c�;n,
This email and any files transmitted with it are confidential and intended for the individual to whom they
are addressed. If you have received tnis email in error, piease notify the sender and delete the message
from your system
From: gsanchezC�a cityofpalmdesert.or4 [mailto:gsanchez(c�cityofpalmdesert.org]
Sent:Tuesday, June 11, 2013 3:03 PM
To: tds-legals
Ce: leon cityofpalmdesert.org; � onzalesCa�citXofpalmdesert.org
Subject: Legal Notice - Public Hearings 06/27/2013 - Falcon Crest
PLEASE PUBLISH THE FOLLOWING:
NOTICE OF PUBLIC HEARING
1) Proposed Approval of Residential Purchase and Sale Agreement
Four�4)Single-family Residences Located at
42071 Verdin Lane
42253 Verdin Lane
74478 Falcon lane
74670 King Fisher Circle
2) Proposed Approval of Residential Purchase and Sale Agreement
Two(2)Single-family Residences Located at
74642 King Fisher Cjrcle
42197 Verdin Lane
TWICE EACH IN THE DESERT SUN
Thursday,June 13,2013
Thursday,June 20, 2013
1