HomeMy WebLinkAboutHA - 65 - Sale of Properties 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 42190 GOLDEN EAGLE LANE (624-
431-011), 74572 KING FISHER CIRCLE (624-440-012), 42197 VERDIN
LANE (624-431-020) AND 74642 KING FISHER CIRCLE (APN 624-440-
017}, F'ALM ����R f (�'U��UAN��O H�ALTH AND SA��TY �0I?�
SECTION 33433(c)).
SUBMITTED BY: Janet Moore, Director of- Housing
DATE: August 28, 2014
CONTENTS: Housing Authority Resolution No. HA- 65
Notice of Public Hearing dated August 15, 2014
Draft Purchase and Sale Agreements
Recommendation
That the Authority Board,
1. Conduct a public hearing and accept testimony on the proposed sale of the
properties located at 42190 Golden Eagle Lane (624-431-011), 74572 King Fisher
Circle (624-440-012), 42197 Verdin Lane (624-431-020) AND 74642 King Fisher
Circle (APN 624-440-017)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- 65 approving the sale of
the properties pursuant to the attached draft Purchase and Sale Agreements for, up
to $200,000 each for 42190 Golden Eagle Lane and 74572 King Fisher Lane, and up
to $225,000 each for 42197 Verdin Lane and 74642 King Fisher Circle depending on
the terms of the negotiated sale.
By Minute Motion, that the City Council and Authority Board,
3. Approve silent homebuyer assistance loans for each home in amounts that do not
exceed 40% of the sales price 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
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.
Staff Report
Public Hearing (624-431-011), (624-440-012), (624-431-020) and (APN 624-440-017)
August 28, 2014
Page2of3
Backqround
The Housing Authority is proposing to sell four (4) homes in Falcon Crest which are located at
42190 Golden Eagle Lane, 74572 King Gisher Circle, 42197 Verdin Lane and 74642 King
Fisher Circle (the "Properties") in the Authority's inventory to qualified low or moderate income
households.
Health and Safety Code Section 33433(c) provides that the requirements of subdivisions (a) and
(b) witl 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
Desert Sun.
When a qualified buyer is identified for each of the homes, the draft Purchase and Sale
Agreement ("AgreemenY') 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 40% of the sales price per household ($80,000 for homes with sales prices of
$200,000 and $90,000 for homes with sales prices of$225,000).
Staff recommends that (i) the Housing Authority Board, hold a public hearing on the proposed
sale of the 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 40% of the sales price per household to ensure
an affordabte housing cost from any available funding source restricted for such purpose.
GlHOUSING�Patty LeonWMMlstaff 2port1HA-Ciry 33433(c)Public Hearing fC Lots 31 62 40 67 Mtg of 8-28-14.doc
Staff Report
Public Hearing (624-431-011), (624-440-012), (624-431-020) and (APN 624-440-017)
August 28, 2014
Page 3 of 3
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 assist�n�� laans firem th� variaus source�. Each sale will reduce tf�e m�nthly costs
associated with maintaining the inventory.
Submitted by:
CITY COUNCILA�I'ION
APPROVED �� DFNiFD
CE OTHER
an M. Moore, Director of Housing ' -
MEET G DA y �
AYES: � ) � /' Qi P
Fin Department: NOES:
ABSENT: �
ABSTAIN:
ERIFIED BY: �- �
I Gib on, Director of Finance Original on File with City erk's Office
p ov : �
BY HC�USG AU�H J�
C)N_ ��' ���� ��`�
ohn M. Wohlmuth, City Manager/Executive Director VER1�(�C? �V`: ��
C
�riginal on fiie v�ith City c�l�r��s ;;�s3����
G:IHOUSING1Palty LeonUMMlstaff reporOFiA-Ciry 33433(c)Public Hearing FC Lots 3t 62 40 67 Mtg M 8-28-14.doc
RESOLUTION NO. HA- 65
A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY
APPROVING RESIDENTIAL PURCHASE AND SALE AGREEMENTS
PURSUANT TO HEALTH AND SAFETY CODE SECTION 33433(c)
fiH� PALM D�S�Rfi HOUSING AUfiHORIT`Y H�R�BY �IN�S,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. On April 13, 2006 the City of Paim 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 42190 Golden Eagle Lane, 74572 King Fisher Circle, 42197 Verdin Lane, and
74642 King Fisher Circle in the City of Palm Desert, California (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 successorto the
former Agency's housing functions and assets.
-1-
12812-0001\152$710 V2.dOC G NiOUSINGIPatty LeonUMMlstatl reportlPUBLIC HEAPoNG RESOLUTIONSUTA Rew Approvinp sak FC Lofs 31,62,40,67 Mlg o18-Y&11 doc
RESOLUTION NO. HA- 65
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 28th day of AUGUST 2014 by the
following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
VAN G. TANNER, CHAIRMAN
ATTEST:
RACHELLE D. KLASSEN, SECRETARY
PALM DESERT HOUSING AUTHORITY
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12812-0001\152871 OV2.dOC G IHOUSINGIPetly LeonUMM\slafl repoAIWBLIC HEARING RESOLUTIONS1Fi0.Reso Approve�g sale FC lots 31,62,10,67 Mlg oi&26-04.doc
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
"Authorit�') will hold a Public Hearing to consider the approval of the DRAFT
Residential Purchase and Sale Agreements (the "Purchase and Sale
Agreement") by and between the Authority, as seller, and a person or family of
low or moderate income, as buyer. The Purchase and Sale Agreements pertain
to four single-family residences owned by the Authority located at Falcon Crest
as follows:
� �+2-190 Golden Eagle Lane, Palm Desert, CA 92260
■ 42-197 Verdin Lane, Palm Desert, CA 92260
■ 74-572 King Fisher Circle, Palm Desert, CA 92260
■ 74-642 King Fisher Circle, Palm Desert, CA 92260
Said Public Hearing will be held as follows:
DATE: Thursday, August 28, 2014
TIME: 4:00 P.M.
PLACE: City of Palm Desert
City Hall Council Chambers
73-510 Fred Waring Drive
Palm Desert, Califomia 92260
A copy of the Purchase and Sale Agreements are available for public inspection
and copying at a cost not to exceed the cost of duplication, at the Office of the
City Clerk/Secretary, 73-510 Fred Waring Drive, Palm Desert, California 92260.
All interested persons wishing to be heard on the matter may be present and be
heard. Any written communications should be addressed to the Authority
Secretary.
Dated: August 15, 2014
Rac elle D. Klassen, Secr ary
Palm Desert Housing Authority
(760) 346-0611
C:U1sen�gsanchezV+DD�����crosoMWl�dows\Temporory Intemet P1ea�ContenLOWIooA19XF0.1 HFCIPH 082ffi014•Falmn Crast-PurchaseSale Agmis.doc
CALIFORNIA
� C A L I F t?R.i�i 1 A RESIDENTIAL PURCHASE AGREEMENT
� A 5 S OC t A T I O N AND JOINT ESCROW INSTRUCTIONS
_�� O F R E A L T O 2 S� For Use With Single Family Residential Property—Attached or Detached
(C.A.R.Form RPA-CA,Revised 4l13)
Date Auoust 11, 2019
1. OFFER:
A. THIS IS AN OFFER FROM A alified buver of Zoxer, or moderate incoaae ("Buyer").
B. THE REAL PROPERTY TO BE ACQUIRED is described as 74572KinaFisherCir42190GoZdenEaaZeL. Palm Desert, Ca
92260 ,Assessor's Parcel No. 629-440-012 624-43I-OZ1 ,sit�ated in
Pa1m Desert ,Counry of RiversiaFe ,Califomia,("Property").
C. THE PURCHASE PRICE offered is Tao Hundred Thousand
Dollars$ 20Q,000.00
D. CLOSE OF ESCROW shall occur on 6Q days or sooner after Accentsnce (date)(or� Days After Acceptance).
2. AGENCY:
A. DISCLOSURE: Buyer and Seller each acknowledge prior receipt of a "Disclosure Regarding Real Estate Agency Relationships"
(C.A.R.Form AD).
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt ot a disclosure o1 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 ultlmately acquire the Property. Seiler understands that Broker representing Seller may also
represent other sellers with competing properties of interest to this Buyer.
C. CONFIRMATION:The following agency relationships are hereby confirmed for this transaction:
Listing Agent Century 21 Osbome Realtv (Print Firm Name)is the agent
of(check one): ❑the Seller exclusively;or�both the Buyer and Seller.
Selling Agent Century 21 Osborne Realtv (Print Firm Name)(if not the same as the
Listing Agent)is the agent of(check one):❑the Buyer exclusively;or❑the Seller exclusively;or�both the Buyer and Seller. Real Estate
Brokers are not parties to the Agreement between Buyer and Seller.
3. FINANCE TERMS:Buyer represents that funds will be good when deposited with Escrow Hoider.
A. INITIAL DEPOSIT:Deposit shall be in the amount of ............. ............... ....................... $ 500.00
(1) Buyer shall deliver deposit directly to Escrow Holder by personal check, ❑electronic funds transfer,❑ other
within 3 business days after acceptance(or�Other 15 );
OR(2)(If checkedj�Buyer has given the deposit by personal check(or ❑ )
to the agent submitting the offer(or to❑ ),
made payable to .The deposit shall be held
uncashed until Acceptance and then deposited with Escrow Holder(or ❑into Broker's trust account) within 3
business days after Acceptance(or�Other ).
B. INCREASED DEPOSIT:Buyer shall deposit with Escrow Holder an increased deposit in the amount of. . . . . . . . . . .$
within Days After Acceptance,or❑
If a liquidated damages clause is incorporated into this Agreement, Buyer and Seller shall sign a separate
liquidated damages clause(C.A.R.Form RID)for any increased deposit at the time it is Delivered.
C. LOAN(S):
(1) FIRST LOAN:in the amount of..... ......... ............ . ... . . ............... .... ..............$ TBD
This Ioan will be conventional financing or, if checked, ❑ FHA,❑VA, ❑Seller (C.A.R. Form SFA),
�assumed financing(C.A.R.Form PAA), �Other .This loan shall be at a fixed
rate not to exceed %or,❑an adjustable rate loan with initial rate not to exceed %.
Regardless of the type of loan,Buyer shall pay points not to exceed %of the loan amount.
(2) ❑SECOND LOAN:in the amount of.......... . . ... . ................................... . ........ $ TBD
This loan will be conventional financing or,if checked, ❑Seller(C.A.R. Form SFA), ❑assumed financing
(C.A.R.Form PAA), ❑Other SEE 3.D .This loan shall be at a fixed rate not to exceed
%or,0 an adjustable rate loan with initial rate not to exceed %.Regardless of
the type of loan,Buyer shall pay points not to exceed %of the loan amount.
(3) FHA/VA:For any FHA or VA loan specified above,Buyer has 17(or❑ )Days After Acceptance
to Deliver to Seiler written notice (C.A.R. Form FVA) of any iender-required repairs or costs that Buyer
requests Seller to pay for or otherwise correct.$eller has no obligation to pay or satisfy lender requirements
unless otherwise agreed in writing.
D. ADDITIONAL FINANCING TERMS: Palm Desert Housi.na Authority and Citv of Palm
Uesert mav prvide down t>avment assistance, provided buver crualifies
E. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of.... . .......... ......... .. ... . . . .$ 199,500.00
to be deposited with Escrow Holder within sufficient time to close escrow.
F. PURCHASE PRICE(TOTAL): ................................................... ....... ..... ......$ 2Q0 000.00
Buyer's Initials(�_ )( ) Seller's Initials(�)(x,_) �
�
EWALHWSING
02073,California Associa[ion ot REALTOR�,Inc. ovvoaTUNiTr
RPA-CA REVISED 4/13(PAGE 1 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 1 OF 8)
Agent: John Osbome Phone:(760)921-2121 Fax:(760)922-4387 Prepared using zipForrr�software
Broker: CENTURY 21 Osborne Real ,41 Orquidia Ct Palm Desert,CA 92260
74572KingFisherCir42Z90Go2denEagleL
Property Address:Palm Desert, Ga 92260 Date:Auqnst 11, 20i4
G. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer(or Buyer's lender or loan broker pursuant to 3H(1) shall, within 7(or
❑ ) Days After Acceptance, Deliver to Seller written verification of Buyer's down payment and closing costs. (If checked,❑
verification attached.)
H. LOAN TERMS:
(1) LOAN APPLICATIONS:Within 7(or❑ ) Days After Acceptance, Buyer shall Deliver to Seller a letter from lender or loan
broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved for any NEW loan
specified in 3C above.(If checked,�letter attached.)
(2) LOAN CONTINGENCY: Buyer shall act ditigently and in good faith to obtain the designated loan(s). Obtaining the loan(s)specified above
is a contingency of this Agreement unless otherwise agreed in writing.Buyer's contractual obligations to obtain and provide deposit,balance of
down payment and closing costs are not contingencies of this Agreement.
(3) LOAN CONTINGENCY REMOVAL:
(i) Within 17(or� )DBys Rfter Acceptance, Buyer shall,as specified in paragraph 14, in writing remove the loan contingency or
cancei this Agreement;
OR(ii) (if checked) ❑the loan contingency shall remain in effect until the designated loans are funded.
(4) ❑NO LOAN CONTINGENCY(If checked):Obtaining any loan specified above is NOT a contingency of this Agreement. If Buyer does not
obtain the loan and as a result Buyer does not purchase the Property,Seller may be entitled to Buyer's deposit or other legal remedies.
I. APPRAISAL CONTINGENCY AND REMOVAL:This Agreement is(or,if checked, �is NOT)contingent upon a written appraisal of the Property
by a licensed or certified appraiser at no less than the specified purchase price. 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 146(3),in writing
remove the appraisal contingency or cancel this Agreement within 17(or )Days After Acceptance).If there is no loan contingency,
Buyer shall,as specified in paragraph 14B(3),in writing remove the appraisal contingency or cancei 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.(If checked, ❑verification attached.)
K. BUYER STATED FINANCING: Se�ler has relied on Buyer's representation of the type of financing specified (including but not limited to, as
appiicable,amount of down payment,contingent or non contingent loan,or al►cash).If Buyer seeks aiternate financing,(i)Seiler has no obligation
to cooperate with Buyer's efforts to obtain such financing, and (ii) Buyer shall aiso pursue the financing method specified in this Agreement.
Buyer's 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 here,in writing,this paragraph only determines who is to pay for the inspection,
test or service("Report")mentioned;it does not determine who is to pay for any work recommended or identified in the Report.
A. INSPECTIONS QND REPORTS:
(1) ❑ Buyer �Seller shall pay for an inspection and report for wood destroying pests and organisms ("Wood Pest Report") prepared by
Sellers Choice a registered structural pest control company.
(2) ❑Buyer ❑Seller shall pay to have septic or private sewage disposal systems inspected
(3) ❑Buyer ❑5eller shall pay to have domestic wells tested for water potability and productivity
(4) ❑Buyer �Seller shall pay for a naturai hazard zone disclosure report prepared by First American or similar
(5) �Buyer ❑Seller shall pay for the following inspection or report Hame Inspection if Buver onts to have one
(6) ❑Buyer�Seller shall pay for the following inspection or report
B. GOVERNMENT REQUIREMENTS AND RETROFIT:
(1) ❑ Buyer �Seller shall pay for smoke detector installation and/or water heater bracing,if required by Law. Prior to Close Of Escrow,Seller
shall provide Buyer written statement(s)of compliance in accordance with state and local Law,unless exempt.
(2) ❑ Buyer ❑Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards, inspections and
reports if required as a condition of ciosing escrow under any Law.
C. ESCROW AND TITLE:
(1) �Buyer �Seller shall pay escrow fee Each to Aav his/her oWn
Escrow Holder shall be Foresite Escrow
(2) ❑ Buyer �Seller shall pay for owner's title insurance policy specified in paragraph 12E
Owner's title policy to be issued by First American Tit2e
(Buyer shail pay for any title insurance policy insuring Buyer's lender,unless otherwise agreed in writing.)
D. OTHER COSTS:
(1) ❑Buyer�Se�ler shali pay County transfer tax or fee
(2) �Buyer Q Seller shall pay City transfer tax or fee
(3) ❑Buyer �Seller shaii pay Homeowner's Association("HOA")transfer fee
(4) ❑Buyer �Seller shall pay HOA document preparation fees Related Fees
(5) ❑Buyer Q Seller shall pay for any private transfer fee
(6) ❑Buyer�Se�ler shall pay the cost,not to exceed$ 350.00 ,of a one-year home warranty plan,
issued by American Hame ShieZd ,with the following optional coverages:
�Air Conditioner �Pool/Spa❑Code and Permit upgrade �Other:A�Aliances
Buyer is informed that home warranty plans have many optional coverages in addition to those listed above. Buyer is advised to investigate
these coverages to determine those that may be suitable for Buyer.
(7) ❑Buyer 0 Seller shall pay for
(8) ❑Buyer �Seller shall pay for
Buyer's Initials(�_ )( ) Seller's Initials (� )(�_) �
RPA-CA REVISED 4/13(PAGE 2 OF 8) Reviewed by Date oPP miY
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 2 OF 8) Falcon Crest
74572KingFisherCir42190Go2denEsgleL
Property Address:Pal� Desert, Ca 92260 Date:August 11, 2014
5. CLOSING AND POSSESSION:
A. Buyer intends(or❑does not intend)to occupy the Property as Buyer's primary residence.
B. Seller-occupfed or vacant property:Possession shall be delivered to Buyer at 5 PM or(❑ ❑AM❑ PM) on the date of Close
Of Escrow;Q on ;or❑ no later than Days After Close Of Escrow.If transfer of title
and possession do not occur at the same time,Buyer and Seller are advised to:(i)enter into a written occupancy agreement(C.A.R. Form PAA,
paragraph 2);and(il)consult with their insurance and legal advisors.
C. Tenant-occupied property:(i)Property shall be vacant at least 5(or❑ )Days Prior to Close Of Escrow,unless otherwise agreed
in writing.Note to Seller:If you are unable to deliver Property vacani in accordance with rent control and other applicable Law,you may
be in breach of this Agreement.
OR(ii)(if checked)�Tenant to remain in possession.(C.A.R.Form PAA,paragraph 3)
D. At Close Of Escrow,(i)Seller assigns to Buyer any assignable warranty rights for items included in the sale,and(ii)Seller shall Deliver to Buyer
available Copies of warranties.Brokers cannot and will not determine the assignability of any warranties.
E. At Close Of Escrow,unless otherwise agreed in writing,Seller shall provide keys andlor means to operate all locks,mailboxes,security systems,
alarms and garage door openers. If Property is a condominium or located in a common interest subdivision, Buyer may be required to pay a
deposit to the Homeowners'Association("HOA")to obtain keys to accessible HOA facilities.
6. STATUTORY DISCLOSURES(INCLUDING LEAO-BASED PAINT HAZARD DISCLOSURES)AND CANCELLATION RIGHTS:
A. (1) Seller shali,within the time specified in paragraph 14A,Deliver to Buyer,if required by Law:(i)Federal Lead-Based Paint Disclosures(C.A.R.
Form FLD)and pamphlet("Lead Disclosures");and(ii)disclosures or notices required by sections 1102 et.seq.and 1103 et.seq.of the Civil
Code ("Statutory Disclosures"). Statutory Disclosures include, but are not limited to,a Real Estate Transfer Disclosure Statement ("TDS"),
Natural Hazard Disclosure Statement ("NHD"), notice or actual knowledge of release of illegal controlled substance, notice of special tax
and/or assessments(or,if allowed,substantially equivalent notice regarding the Mello-Roos Community Facilities Act and Improvement Bond
Act of 1915)and,if Seller has actual knowledge,of industrial use and miiitary ordnance location(C.A.R.Form SPQ or SSD).
(2) Buyer shall,within the time specified in paragraph 14B(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 aflecting the Property, or any material
inaccuracy in disclosures, information or representations previously provided to Buyer, Seller shall promptly provide a subsequent or
amended disclosure or notice,in writing,covering those items. However,a subsequent or amended disclosure shall not be required for
conditions and material inaccuracies of which Buyer is otherwise aware,or which are disciosed in reports provided to or obtained by
Buyer or ordered and paid for by Buyer.
(4) If any disclosure or notice specified in 6A(1),or subsequent or amended disclosure or notice is Delivered to Buyer after the offer is Signed,
Buyer shall have the right to cancel this Agreement within 3 Days After Delivery in person,or 5 Days After Delivery by deposit in the mail,by
giving written notice of cancellation to Seller or Seller's agent.
(5) Note to Buyer and Selier:Waiver of Statutory and Lead Disclosures is prohibited by Law.
B. NATURAL AND ENVIRONMENTAL HAZARDS:Wiihin the time specified in paragraph 14A,Seller shall,if required by Law:(i)Deliver to Buyer
earthquake guides(and questionnaire)and environmental hazards booklet;(ii)even if exempt from the obligation to provide a NHD,disclose if
the Property is located in a Special Flood Hazard Area; Potential Fiooding (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earfhquake Fault Zone;Seismic Hazard Zone;and(iii)disclose any other zone as required by Law and provide any other
information required for those zones.
C. WITHHOLDING TAXES: Within the time specified in paragraph 14A, to avoid required withholding, Seller shali Deliver to Buyer or qualified
substitute,an affidavit sufficient to comply with federal(FIRPTA)and California withholding Law(C.A.R.Form AS or QS).
D. MEGAN'S LAW DATABASE DISCLOSURE:Notice:Pursuant to Section 290.46 of the Penal Code,information about specified registered sex
offenders is made available to the public via an Intemet Web site maintained by the Department of Justice at www.meganslaw.ca.gov.Depending
on an offender's criminal history,this information will include either the address at which the offender resides or the community of residence and
ZIP Code in which he or she resides. (Neither Seller nor Brokers are required to check this website. if Buyer wants further information, Broker
recommends that Buyer obtain information from this website during Buyer's inspection contingency period. Brokers do not have expertise in this
area.)
E. NOTICE REGARDING GAS AND HA2ARDOUS LIQUID TRANSMISSION PIPELINES:This notice is being provided simply to inform you that
information about the general location of gas and hazardous liquid transmission pipelines is available to the public via the National Pipeline
Mapping System(NPMS)Internet Web site maintained by the United States Department of Transportation at http://www.npms.phmsa.dot.gov/.To
seek further information about possible transmission pipelines near the Property,you may coniact your local gas utility or other pipeline operators
in the area.Contact information for pipeline operators is searchable by ZIP Code and county on the NPMS Internet Web site.
7. CONDOMINIUM/PLANNED DEVELOPMENT DISCLOSURES:
A. SELLER HAS:7(or❑ )Days After Acceptance to disclose to Buyer whether the Property is a condominium,or is located in a
planned development or other common interest subdivision(C.A.R.Form SPQ or SSD).
B. li 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.A.R.Form HOA):(i)Copies of any documents required by Law;(ii)disclosure of any pending
or anticipated claim or litigation by or against the HOA;(iii)a statement containing the location and number of designated parking and storage
spaces;(iv)Copies of the most recent 12 months of HOA minutes for regular and special meetings;and(v)the names and contact informatlon of
aIl HOAs governing the Property(collectively,"CI Disclosures").Seller shall itemize and Deliver to Buyer all CI Disciosures received from the HOA
and any CI Disclosures in Seller's possession. Buyer's approval of CI Disclosures is a contingency of this Agreement as specified in paragraph
14B(3).
S. ITEMS INCLUDED IN AND EXCLUDED FROM PURCHASE PRICE:
A. NOTE TO BUYER AND SELLER:Items listed as included or excluded in the MLS,flyers or marketing materials are not included in the purchase
price or excluded from the sale unless specified in 86 or C.
B. ITEMS INCLUDED IN SALE:
(1) Ail EXISTING fixtures and fittings that are attached to the Property;
(2) EXISTING electrical,mechanical,lighting,plumbing and heating fixtures,ceiling fans,firepiace inserts,gas logs and grates,solar systems,
built-in appliances,window and door screens, awnings, shutters, window coverings, attached floor coverings, television antennas, satellite
dishes, private integrated telephone systems, air coolers/conditioners, pool/spa equipment,garage door openers/remote controls, mailbox,
in-ground landscaping,trees/shrubs,water softeners,water puritiers,security systems/alarms;(If checked)�stove(s), ❑refrigerator(sj;
Buyer's Initials(� )( ) Seller's Initials(X_)(X ) �
RPA-CA REVISED 4/13(PAGE 3 OF 8) Reviewed by Date OPPOPTI�plIi�Y
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 3 OF 8) Falcon Crest
74572KiagFisherCir4219aGoldenEagleL
Property Address:Pa.Zm Desert, Ca 92260 Date:Assgust 11, 2014
(3) The foliowing additional items: Solar Svstem if so evuitaped
(4) Seller represents that all items included in the purchase price,unless otherwise specified,are owned by Seller.
(5) All items included shail be transferred free of liens and without Seller warranty.
C. ITEMS EXCLUDED FROM SALE:Unless otherwise specified,audio and video components(such as flat screen TVs and speakers)are excluded
if any such item is not itself attached to the Property,even if a bracket or other mechanism attached to the component is attached to the Property;
and
9. CONDITION OF PROPERTY:Unless otherwise agreed:(i)the Property is sold(a)in its PRESENT physicai("as-is")condition as of the date
of Acceptance and (b) subject to Buyer's Investigation rights; (ii) the Property, including poo�, spa, landscaping and grounds, is to be
maintained in substantially the same condition as on the date of Acceptance;and(iii)all debris and personal property not included in the sale shall
be removed by Close Of Escrow.
A. Selier shall,within the time specified in paragraph 14A,DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting the Property,including
known insurance claims within the past five years,and make any and all other disclosures required by law.
B. Buyer has the right to inspect the Property and, as specified in paragraph 146, based upon information discovered in those inspections: (i)
cancel this Agreement;or(ii�request that Seller make Repairs or take other action.
C. Buyer is strongly advised to conduct investigatio�s of the en#ire Property in order to determine its present condition.Seller may not be
aware of ail defects affecting the Property or other factors that Buyer considers important. Property improvements may not be built
according to code,in compliance with current Law,or have had permits issued.
10. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A. Buyer's acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified in this
paragraph and paragraph 14B. Within the time specified in paragraph 146(1), Buyer shall have the right, at Buyer's expense unless otherwise
agreed,to conduct inspections,investigations,tests,surveys and other studies("Buyer Investigations"),including,but not limited to,the right to:
(i) inspect for lead-based paint and other lead-based paint hazards; (ii) inspect for wood destroying pests and organisms; (iii) review the
registered sex offender database;(iv}confirm the insurability of Buyer and the Property;and(v)satisfy Buyer as to any matter specified in the
attached Buyer's lnspeciion Advisory(C.A.R.Form BIA).Without Seller's prior written consent,Buyer shall neither make nor cause to he made:(i)
invasive or destructive Buyer Investigations;or(ii)inspections by any governmental building or zoning inspector or government employee,unless
required by Law.
B. Seller shall make the Property availabie for all Buyer Investigations. Buyer shall(i)as specified in paragraph 146,complete Buyer Investigations
and,either remove the contingency or cancel this Agreement,and(ii)give Seiler,at no cost,complete Copies of all Investigation reports obtained
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 indemnity and Seiler protection for entry upon property:Buyer shail:(i)keep the Property free and clear of liens;(ii)repair ail damage
arising from Buyer Inves[igations;and(iii)indemnify and hold Seller harmless from all resulting liability,claims, demands,damages and costs.
Buyer shaii carry,or Buyer shall require anyone acting on Buyer's behalf to carry,poiicies of liability,workers'compensation and other applicable
insurance,defending and protecting Seller from liability for any injuries to persons or property occurring during any Buyer Investigations or work
done on the Property at Buyer s direction prior to Close Of Escrow.Seller is advised that certain protections may be afforded Seller by recording a
"Notice of Nonresponsibility"(C.A.R. Form NNR)for Buyer Investigations and work done on the Property at Buyer's direction.Buyer's obligations
under this paragraph shall survive the termination of this Agreement.
11. SELLER DISCLOSURES;ADDENDA;ADVISORIES;OTHER TERMS:
A. Seller Disclosures(if checked):Seller shall within the time specified in paraqraph 14A,complete and provide Buver with a:
�Seller Property Questionnaire(C.A.R.Form SPQ) OR �Supplemental Contractual and Statutory Disclosure(C.A.R.Form SSD)
B. Addenda(if checked): �Addendum# 1 (C.A.R.Form ADM)
�Wood Destroying Pest Inspection and Allocation of Cost Addendum(C.A.R.Form WPA)
❑ Purchase Aqreement Addendum(C.A.R Form PAA) ❑Septic,Well and Property Monument Addendum(C.A.R.Form SWPI)
❑Short Sale Addendum(C.A.R.Form SSA) ❑Other
C. Advisories(if checked): �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. Within the time specified 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 Escrow Holder a completed Statement of Information.The preliminary report is only an
offer by the title insurer to issue a policy of title insurance and may not contain every item affecting titie. Buyer's review of the preliminary report
and any other matters which may affect title are a contingency of this Agreement as specified in paragraph 146.
B. Title is taken in its present condition subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other matters,
whether of record or not,as of the date of Acceptance except:(i)monetary liens of record unless Buyer is assuming those obligations or taking
the Property subject to those obligations;and(fi)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 title,whether of record or
not.
D. At Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for stock coopera6ve or long-term lease, an assignment of stock
certificate or of Seller's leasehold interest), inciuding oii,mineral and water rights if currently owned by Seiler.Title shall vest as designated in
Buyer's supplemental escrow instructions.THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEQUENCES.
CONSULT AN APPROPRIATE PROFESSIONAL.
E. Buyer shall receive a CLTA/ALTA Homeowner's Policy of Title Insurance.A title company,at Buyer's request,can provide information about the
availability,desirability,coverage,and cost of various title insurance coverages and endorsements. If Buyer desires title coverage other than that
required by this paragraph,Buyer shall instruct Escrow Holder in writing and pay any increase in cost.
Buyer's Initials(X_)( ) Sel�er's Initials(�_)(�) �
RPA-CA REVISED 4/13(PAGE 4 OF 8) Reviewed by Date Ew�rrous�+c
OPPOHTUNITY
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 4 OF 8) Falcon Crest
79572XiagFisherCir42190Go1denEagleZ
Property Address:Pa2m Desert, Ca 92260 Date:August I1, 2014
13. SALE OF BUYER'S PROPERTY:
A. This Agreement is NOT contingent upon the sale of any property owned by Buyer.
OR B. ❑(If checked):The attached addendum(C.A.R. Form COP)regarding the contingency for the sale of property owned by Buyer is incorporated
into this Agreement.
14.TIME PERIODS; REMOVAL OF CONTINGENCIES; CANCELLATION RIGHTS: The following time periods may only be extended, altered,
modified or changed by mutual written agreement.Any removal of contingencies or cancellation under this paragraph by either Buyer or
Seller must be exercised in good faith and in writing(C.A.R.Form CR or CC).
A. SELLER HAS:7(or� 15 )Days After Acceptance to Deliver to Buyer all Reports,disclosures and information for which Seller is
responsible under paragraphs 4, 6A, B and C, 7A,9A, 11A and B, and 12A. Buyer may give Seller a Notice to Selier to Perform(C.A.R. Form
NSP)if Seiler has not Delivered the items within the time specified.
B. (1) BUYER HAS:17(or❑ )Days After Acceptance,unless otherwise agreed in writing,to:
(i) complete all Buyer Investigations;approve all disclosures,reports and other applicable information,which Buyer receives from Seller;and
approve all matters affecting the Property;and
(ii) Deliver to Seller Signed Copies of Statutory and Lead Disclosures Qeiivered by Seller in accordance with paragraph 6A.
(2) Within the time specified in 146(1),Buyer may request that Seller make repairs or take any other action regarding the Property(C.A.R. Form
RR).Seller has no obligation to agree to or respond to Buyer's requests.
(3) By the end of the time specified in 146(1) (or as otherwise specified in this Agreement), Buyer shall, Deliver to Seller a removal of the
applicable contingency or cancellation(C.A.R. Form CR or CC)of this Agreement.However,if any report,disclosure or information for which
Seller is responsible is not Delivered within the time specified in 14A,then Buyer has 5(or❑ )Days After Delivery of any such
items,or the time specified in 14B(1),wf�ichever is later,to Deliver to Seller a removal of the applicable contingency or cancellation of this
Agreement.
(4) Continuation of Contingency:Even after the end of the time specified in 14B(1)and before Seller cancels,if at all,pursuant to 14C,Buyer
retairrs the righi#o sither(i)in writfng remove remaining contingencies,or(ii)cancel this Agreement based on a remaining contingency.Once
Buyer's written removal of all contingencies is Delivered to Seller,Seller may not cancei this Agreement pursuant to 14C(1).
C. SELIER RIGHT TO CANCEL:
(1) 5eller right to Cancel;Buyer Contingencies: If,by the time speciiied in this Agreement, Buyer does not Deliver to Seller a removal of the
applicable contingency or canceilation of this Agreement then Seller,after first Delivering to Buyer a Notice to Buyer to Perform(C.A.R. Form
NBP)may cancei this Agreement.In such event,Seller shall authorize return of Buyer's deposit.
(2) Seller right to Cancel;Buyer Contract Obligations:Seller,after first Deiivering to Buyer a NBP may cancel this Agreement for any of the
following reasons:(i)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;(iii)if Buyer fails to Deliver a notice of FHA or VA costs or terms as required by 3C(3) (C.A.R. Form FVA);(iv)if Buyer fails to
Deliver a letter as required by 3H;(v)if Buyer fails to Deliver verification as required by 3G or 3J;(vi)if Seller reasonably disapproves of the
verification provided by 3G or 3J;(vii)if Buyer faits to return Statutory and Lead Disciosures as required by paragraph 6A(2);or(viii)if Buyer
fails to sign or initial a separate liquidated damages form for an increased deposit as required by paragraphs 3B and 25.In such event,Seller
shall authorize return of Buyer's deposit.
(3) Notice To Buyer To Perform:The NBP shall:(i)be in writing;(ii)be signed by Seller;and(iii)give Buyer at least 2(or❑ )Days
After Delivery(or until the time specified in the appiicable paragraph,whichever occurs iast)to take the appiicable action.A NBP may not be
Deiivered any earlier than 2 Days Prior to the expiration of the applicable time for Buyer to remove a contingency or cancel this Agreement or
meet an obligation specified in 14C(2).
D. EFFECT OF BUYER'S REMOVAL OF CONTINGENCIES: If Buyer removes,in writing,any contingency or cancellation rights, unless otherwise
specified in a separate written agreement between Buyer and Seller, Buyer shall conclusively be deemed to have: (i) completed all Buyer
Investigations, and review of reports and other applicable information and disclosures pertaining to that contingency or cancellation right; (ii)
elected to proceed with the transaction; and (iii) assumed all liability, responsibility and expense for Repairs or corrections pertaining to that
contingency or cancellation right,or for inability to obtain financing.
E. CLOSE OF ESCROW: Before Seller or Buyer may cancel this Agreement for failure of the other party to close escrow pursuant to this
Agreement,Seller or Buyer must first Deliver to the other a demand to close escrow(C.A.R.Form DCE).
F. EFFECT OF CANCELLATION ON DEPOSITS:If Buyer or Seller gives written notice of cancellation pursuant to rights duly exercised under the
terms of this Agreement,Buyer and Seller agree to Sign mutual instructions to cancel the sale and escrow and release deposits, if any,to the
party eniitled 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 of tunds wiil require mutual Signed release instructions from Buyer and Seller,
judicial decision or arbitration award. A Buyer or Seller may be subject to a civil penalty of up to $1,000 for refusal to sign such
instructions if no good faith dispute exists as to who is entitled to the deposited funds(Civil Code§1057.3).
15. REPAIRS: Repairs shall be completed prior to final verification of condition unless otherwise agreed in writing. Repairs to be performed at Seller's
expense may be performed by Seller or through others, provided that the work complies with applicable l.aw, including governmental permit,
inspeciion and approvai requirements. Repairs shall be performed in a good,skil�fui manner with materials of quality and appearance comparable to
existing materials. It is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible. Seller shali:(i)
obtain receipts for Repairs performed by others; (ii)prepare a written statement indicating the Repairs performed by Seller and the date of such
Repairs;and(iii)provide Copies of receipts and statements to Buyer prior to final verification of condition.
16, FINAL VERIFICATION OF CONDITION:Buyer shall have the right to make a final inspection of the Property within 5(or )Days Prior
to Ciose Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm:(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 under this Agreement(C.A.R.Form VP).
17. PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS:Uniess 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 assessments imposed prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and assessments
assumed by Buyer,and payments on Melio-Roos and other Special Assessment District bonds and assessments that are now a lien.The following
items shall be assumed by Buyer WITHOUT CREDIT toward the purchase price:prorated payments on Mello-Roos and other Special Assessment
District bonds and assessments and HOA special assessments that are now a lien but not yet due. Property will be reassessed upon change of
ownership.My 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 Seller(see C.A.R. Form SPT or SBSA for further information).TAX BILLS ISSUED AFTER GLOSE OF ESCROW SHALI BE HANDLED
DIRECTIY BETWEEN BUYER AND SELLER.Prorations shall be made based on a 30-day month.
Buyer's initials(� )( ) Se►ler's Initials(�_ )(� ) �
RPA-CA REVISED 4/13(PAGE 5 OF 8) Reviewed by Date pp�pi�NIT�Y
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 5 OF 8) Falcon Crest
74572KiagFisherCir42190GoZdenEagleL
Property Address:PaZm Desert, Ca 92260 Date:August 11, 20I4
18. SELECTION OF SERVICE PROVIDERS: Brokers do not guarantee the performance of any vendors, service or product providers ("Providers"),
whether referred by Broker or selected by Buyer,Seller or other person.Buyer and Seller may select ANY Providers of their own choosing.
19. MULTIPLE LISTING SERVICE("MLS"):Brokers are authorized to report to the MLS a pending sale and,upon Close Of Escrow,the sales price and
other terms of this transaction shall be provided to the MLS to be published and disseminated to persons and entities authorized to use the
information on terrns approved by the MLS.
20. EQUAL HOUSING OPPORTUNITY:The Property is sold in compliance with federal,state and local anti-discrimination Laws.
21. ATTORNEY FEES: �n any action,proceeding,or arbitration between Buyer and Seller arising out of this Agreement,the prevailing Buyer or Seller
shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or Seller,except as provided in paragraph 26A.
22. DEFINITIONS:As used in this Agreement:
A. "Acceptance"means the time the offer or final counter offer is accepted in writing by a party and is delivered to and personally received by the
other party or that party's authorized agent in accordance with the terms of this offer or a final counter offer.
B. "C.A.R.Form"means the specific form referenced or another camparable form agreed to by the parties.
C. "Ciose Of Escrow"means the date the grant deed,or other evidence of transfer of title,is recorded.
D. "Copy"means copy by any means including photocopy,NCR,facsimile and electronic.
E. "Days"means calendar days.However,after Acceptance,the last Day for performance of any act required by this Agreement(including Close Of
Escrow)shall not include any Saturday,Sunday,or legal holiday and shall instead be the next Day.
F. "Days After"means the specified number of calendar days after the occurrence of the event specified,not counting the calendar date on which
the specified event occurs,and ending at 11:59PM on the final day.
G. "Days Prior"means the specified number of calendar days before the occurrence of the event specified,not counting the calendar date on which
the specified event is scheduled to occur.
H. "Deliver", "Delivered"or"Delivery", means and shall be effective upon (i) personal receipt by Buyer or Seller or the individual Real Estate
Licensee for that principal as specified in paragraph D of the section titled Real Estate Brokers on page 8, regardless of the method used (i.e.
messenger,mail,email,fax,other);OR(ii)if checked,�per the attached addendum(C.A.R.Form RDN).
i. "Electronic Copy"or"Electronic Signature"means, as appiicable, an electronic copy or signature complying with Catifornia Law. Buyer and
Seller agree that electronic means wili not be used by either party to modify or alter the content or integrity of this Agreement without the
knowledge and consent of the other.
J. "Law"means any law,code,statute,ordinance,regulation,rule or order,which is adopted by a controlling city,county,state or federal legislative,
judiciai or executive body or agency.
K. "Repa(rs"means any repairs(including pest control),alterations,repiacements,modifications or retrofitting of the Property provided for under this
Agreement.
L. "Signed"means either a handwritten or electronic signature on an original document,Copy or any counterpart.
23. BROKER COMPENSATION: Seller or Buyer, or both, as applicable, agrees to pay compensation to Broker as specified in a separate written
agreement between Broker and that Selier or Buyer. Compensation is payable upon Ciose Of Escrow, or if escrow does not close, as otherwise
specified in the agreement beriveen Broker and that Seller or Buyer.
24.JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:
A. The following paragraphs,or applicable portions thereof,of this Agreement constitute the joint escrow instructions of Buyer and Seller
to Escrow Hoider,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
8.If a Copy of the separate compensation agreement(s)provided for in paragraph 23,or paragraph D of the section titled Real Estate Brokers on
page 8 is deposited with Escrow Holder by Broker,Escrow Holder shall accept such agreement(s)and pay out from Buyer's or Seller's funds,or
both,as applicable,the Broker's compensation provided for in such agreement(s).The terms and conditions of this Agreement not set forth in the
specified paragraphs are additional matters for the information of Escrow Holder,but about which Escrow Holder need not be concerned. Buyer
and Seller wil�receive Escrow Holder's general provisions directly from Escrow Holder and will execute such provisions upon Escrow Holder's
request.To the extent the general provisions are inconsistent or conflict with this Agreement,the general provisions will control as to the duties
and obligations of Escrow Holder only.Buyer and Seller will execute additional instructions,documents 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
Iniormation to Titie company when received from Seiler.Buyer and Selier 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 Agreemeni as between Buyer and
Seller is not affected by whether or when Escrow Holder Signs this Agreement.
C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraph 23 and paragraph D of the section titled Real
Estate Brokers on page 8. Buyer and Seller irrevocably assign to Brokers compensation specified in paragraph 23, respectively,and irrevocably
instruct Escrow Holder to disburse those funds to Brokers ai Close Of Escrow or pursuant to any other mutually executed cancellation agreement.
Compensation instructions can be amended or revoked only with the written consent of Brokers.Buyer and Seller shall release and hold harmless
Escrow Holder from any liability resulting from Escrow Holder's payment to Broker(s)of compensation pursuant to this Agreement. Escrow Holder
shall immediately notify Brokers:(i)if Buyer's initial or any additional deposit is not made pursuant to this Agreement,or is not good at time of
deposit with Escrow Holder;or(ii)if Buyer and Seller instruct Escrow Holder to cancel escrow.
D. A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be delivered to Escrow
Holder within 2 business days after mutual execution of the amendment.
Buyer's Initials(�_ )( ) Selier's Initials(� ){x_) �
RPA-CA REVISED 4/13(PAGE 6 OF 8) Reviewed by Date E�IRLIpU51NC
OPPOflTUNITY
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 6 OF 8) Falcon Crest
74572KingFisherCir42190Go1denEagleL
Property Address:Palm Desert, Ca 92260 Date:Auqust IZ, 2014
25.LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyer's default, Seller shall retain, as
liquidated damages,the deposit actually paid.If the Property is a dwelling with no more than four units,one of which Buyer
intends to occupy,then the amount retained shall be no more than 3%of the purchase price.Any excess shall be returned
to Buyer. Release of funds will require mutual,Signed release instructions from both Buyer and Seller,judicial decision or
arbitration award. AT TIME OF THE INCREASED DEPOSIT BUYER AND SEL�ER SHALL SIGN A SEPARATE LI�UIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT(C.A.R.FORM RID).
Buyer's Initials / Seller's Initials /
26. DISPUTE RESOLUTION:
A. MEDIATION: Buyer and Seller agree to mediate any dispute or claim arising between them out of this Agreement,or any resulting transaction,
before resorting to arbitration or court action.Buyer and Seller also agree to mediate any disputes or claims with Broker(s),who,in writing,
agree to such mediation prior to,or within a reasonable time after,the dispute or claim is presented to the Broker.Mediation fees,if any,
shall be divided equally among the parties invofved.If,for any dispute or claim to which this paragraph applies,any party(i)commences an action
withoui first attempting to resolve the matter through mediation,or(ii)before commencement of an aclion,refuses to mediate after a request has
been made,then that party shall not be entitled to recover attorney fees,even if they would othervvise be available to that party in any such action.
THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED.Exclusions from this mediation
agreement are specified in paragraph 26C.
B. ARBITRATION OF DISPUTES:
Buyer and Seller agree that any dispute or claim in Law or equity arising between them out of this Agreement or any
resuiting transaction,which is not settled through mediation,shall be decided by neutral,binding arbitration. Buyer and
Seller also agree to arbitrate any disputes or claims with Broker(s),who, in writing,agree to such arbitration prior#o,or
within a reasonable time after,the dispute or ciaim is presented to the Broker.The arbitrator shall be a retired judge or
justice,or an attorney with at least 5 years of residential real estate Law experience,unless the parties mutually agree to
a different arbitrator.The parties shall have the right to discovery in accordance with Code of Civil Procedure§1283.05.
In all other respects, the arbitration shall be conducted in accordance with Title 9 of Part 3 of the Code of Civii
Procedure.Judgment upon the award of the arbitrator(s)may be entered into any court having jurisdiction. Enforcement
of this agreement to arbitrate shall be governed by the Federal Arbitration Act. Exclusions from this arbitration
agreement are specified in paragraph 26C.
"NOTICE:BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT
OF THE MATTERS INCLUDED IN THE'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION
AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE
DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR
JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE
'ARBITRATION OF DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS
PROVISION,YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL
PROCEDURE.YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY."
"WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT
OF THE MATTERS INCLUDED IN THE'ARBITRATION OF DISPUTES'PROVISION TO NEUTRAL ARBITRATION."
Bu er's Initials / Seller's Initials /
C. ADDITIONAL MEDIATION AND ARBITRATION TERMS:
(1) EXCLUSIONS: The tollowing matters are excluded from mediation and arbitration: (i) a judicial or non-judicial foreclosure or other
action or proceeding to enforce a deed of trust, mortgage or instaliment land sale contrect as defined in Civil Code §2985; (ii) an
unlawtul detainer action; (iii) the filing or enforcement of a mechanic's lien; and (iv) any matter that is within the jurisdiction of a
probate,small claims or bankruptcy court.The filing of a court action to enable the recording of a notice of pending action,for order of
attachment, receivership, injunction, or other provisional remedies, shalt not constitute a waiver nor violation ot the mediation and
arbitration provisions.
(2) BROKERS: Brokers shall not be obligated nor compelled to mediate or arbitrate unless they agree to do so in writing.Any Broker(s)
participating in mediation or arbitration shall not be deemed a pany to the Agreement.
27. TERMS AND CONDITIONS OF OFFER:
This is an offer to purchase the Property on the above terms and conditions. The liquidated damages paragraph or the arbitration of disputes
paragraph is incorporated in this Agreement if initialed by all parties or if incorporated by mutual agreement in a counter offer or addendum.If at least
one but not ail parties initial,a counter offer is required until agreement is reached.Seller has the right to continue to offer the Property for sale and to
accept any other offer at any time prior to notification of Acceptance.Buyer has read and acknowiedges receipt of a Copy of the offer and agrees to
the above confirmation of agency relationships. If this offer is accepted and Buyer subsequently defaults, Buyer may be responsible for payment of
Brokers' compensation. This Agreement and any supplement, addendum or modification, including any Copy, may be Signed in two or more
counterparts,all of which shall constitute one and the same writing.
28. TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time is of the essence. All understandings between the parties are incorporated in this
Agreement. Its terms are intended by the parties as a final,complete and exclusive expression of their Agreement with respect to its subject matter,
and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement.If any provision of this Agreement is held to be
ineffective or invaiid,the remaining provisions will nevertheless be given full force and effect. 6ccept as otherwise specified,this Agreement shall be
interpreted and disputes shall be resolved in accordance with the laws of the State of California. Neither this Agreement nor any provision in it
may be extended,amended,modified,altered or changed,except in writing Signed by Buyer and Seller.
Buyer's Initials(�_ )( ) Seller's initials(�_ )(x_) �
RPA-CA REVISED 4113(PAGE 7 OF 8) Reviewed by Date EWRLIpUSING
OPPORTIINITY
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 7 OF 8) Falcon Crest
74572KingFisherCir42190GoI.denEagleL
Property Address:Palm Desert, Ca 92260 Date:August 11, 2014
29. EXPIRATION OF OFFER:This offer shall be deemed revoked and the deposit shall be returned unless the offer is Signed by Seller and a Copy of the
Signed offer is personally received by Buyer,or by ,who is
authorized to receive it, by 5:00 PM on the third Day after this offer is signed by Buyer (or, ii checked,❑ by
❑AM❑ PM,on (date)).
Date Date
BUYER X BUYER
A Oualified buygr of Io�rer or moderate inc�e
(Print name) (Print name)
(Address)
30. ACCEPTANCE OF OFFER:Selier warrants that Seller is the owner of the Property,or has the authority to execute this Agreement.Seiler accepts the
above offer,agrees to setl the Property on the above terms and conditions,and agrees to the above confirmation of agency relationships.Seller has
read and acknowledges receipt of a Copy of this Agreement,and authorizes Broker to Deliver a Signed Copy to Buyer.
❑(If checked)SUBJECT TO ATTACHED COUNTER OFFER(C.A.R.Form CO)DATED: .
Date Date
SELLER X SELLER X
Palm Desert Housina Authoritv
(Print name) (Print name)
73-510 Fied Waring Drive Palm Desert CA 92260
(Address)
( / ) CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was personaliy received by Buyer or Buyer's authorized
(Initials) agent on(date) at ❑AM ❑ PM.A binding Agreement is created when
a Copy of Signed Acceptance is personally received by Buyer or Buyer's authorized agent whether or not confirmed in
this document.Completion of this confirmatfon is not legally required in order to create a binding Agreement;it Is solely
intended to evidence the date that Confirmation of Acce tance has occurred.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seller.
B. Agency relationships are confirmed as stated in paragraph 2.
C. If specified in paragraph 3A,Agent who submitted the offer for Buyer acknowledges receipt of deposit.
D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker(Seliing Firm)and Cooperating Broker agrees to
accept, out of Listing Broker's proceeds in escrow:(i)the amount specified in the MLS, provided Coopera6ng Broker is a Participant of the MLS in
which the Property is offered for sale or a reciprocal MLS;or(ii) �(if checked)the amount specified in a separate written agreement(C.A.R. Form
CBC)between Listing Broker and Cooperating Broker.Declaration of License and Tax(C.A.R.Form DLT)may be used to document that tax reporting
will be required or that an exemption exists.
Reai Estate Broker(Selling Firm) Century 21 Osborne Realtv BRE Lic.#01312235
By John Osborne BRE Lic.#00852775 Date
Address City State Zip
Telephone Fax E-mail
Real Estate Broker(Listing Firm) Century 21 Osborne Realtv BRE Lic.#01312235
By John Osborne BRE Lic.#OOB52775 Date
Address 41 Orauidia Ct City Palm Desert State Ca Zip 92260
Telephone l7601567-2407 Fax l760)922-4387 E-maii iohn.osborne@century2l.co�
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement,(if checked,�a deposit in the amount of$ ),
counter offer number ❑Seller's Statement of Information and Addendum �`2
,and agrees to act as Escrow Holder subject to paragraph 24 of this Agreement,any
supplementai escrow instructions and the terms of Escrow Holder's general provisions.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is
Escrow Holder Foresi te Escrorr Escrow#
By Esther Zopez Date
Address
Phone/Fax/E-mail
Escrow Holder is licensed by the California Department of Q Corporations,� Insurance,❑ Real Estate. License#
PRESENTATION OF OFFER:( )Listing Broker presented this offer to Seller on (date).
Broker or Designee Initials
REJECTION OF OFFER:( )( )No counter offer is being made.This offer was rejected by Seller on (date).
Seller's Initials
�2073,California Associatlon of REALTORS�,Inc.United States copyright law(Title 17 U.S.Cotle)forbids the unauthorizetl dfstribution,display and reproduction ot this form,or any portion Mereof,by
photocopy machine or any other means,including tacsimile or computerized tormats.
THIS FORM HAS BEEN APPROVED 8Y THE CALIFORNIA ASSOCIATION OF REALTORS�(C.A.R.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ACCURACY OF ANY
PROVISION IN ANY SPECIFIC TRANSACTION.A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS.IF YOU OESIRE LEGAL OR TAX ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL.
� Published and Distributed by:
,. REAL ESTATE BUSINESS SERVICES,INC. Reviewed by �
' � a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS�
W 525 South Vir il Avenue,Los M eles,Califomia 90020 Broker or Designee Date EWALXd15NG
g g OPPONTUNITY
REVISION DATE 4l13
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 8 OF 8) Falcon Crest
� CALIFOANIA
� ASSOCIATION BUYER'S INSPECTION ADVISORY
�.� OF REALTORS� (C.A.R.Form BIA-A,Revised 10/02)
Property Address: 79572KingFisherCir42190GoZdenEagleL, Palm Uesert, Ca 92260 ("Prop2rty").
A. IMPORTANCE OF PROPERTY INVESTIGATION: The physical condition of the land and improvements being purchased is not
guaranteed by either Seller or Brokers. For this reason, you should conduct thorough investigations of the Properry personally and with
professionals who should provide written reports of their investigations.A general physical inspection typically does not cover all aspects
of the Properry nor items affecting the Property that are not physically located on the Property. If the professionals recommend further
investigations, including a recommendation by a pest control operator to inspect inaccessible areas of the Property, you should contact
qualified experts to conduct such additional investigations.
B. BUYER RIGHTS AND DUTIES: You have an affirmative duty to exercise reasonable care to protect yourself, including discovery of
the legal, practical and technical implications of disclosed facts, and the investigation and verification of information and facts that you
know or that are within your diligent attention and observation.The purchase agreement gives you the right to investigate the Property. If
you exercise this right, and you should,you must do so in accordance with the terms of that agreement.This is the best way for you to
protect yourself. It is extremely important for you to read all written reports provided by professionals and to discuss the results of
inspections with the professional who conducted the inspection. You have the right to request that Seller make repairs, corrections or
take other action based upon items discovered in your investigations or disclosed by Seller. If Seller is unwilling or unable to satisfy your
requests, or you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the
agreement if you act within specific time periods. If you do not cancel the agreement in a timely and proper manner, you may be in
breach of contract.
C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you material facts known to him/her that affect the value or
desirability of the Property. However,Seller may not be aware of some Property defects or conditions.Seller does not have an obligation
to inspect the Property for your benefit nor is Seller obligated to repair,correct or otherwise cure known defects that are disclosed to you
or previously unknown defects that are discovered by you or your inspectors during escrow.The purchase agreement obligates Selier to
make the Property available to you for investigations.
D. BROKER OBLIGATIONS: Brokers do not have expertise in all areas and therefore cannot advise you on many items, such as soil
stability,geologic or environmental conditions, hazardous or illegal controlled substances,structurai conditions of the foundation or other
improvements,or the condition of the roof, plumbing, heating,air conditioning,electrical,sewer, septic,waste disposal, or other system.
The only way to accurately determine the condition of the Property is through an inspection by an appropriate professional selected by
you. If Broker gives you referrals to such professionals, Broker does not guarantee their performance. You may select any professional
of your choosing. In sales involving residential dwellings with no more than four units, Brokers have a duty to make a diligent visual
inspection of the accessible areas of the Property and to disclose the results of that inspection. However, as some Property defects or
conditions may not be discoverable from a visual inspection, it is possible Brokers are not aware of them. If you have entered into a
written agreement with a Broker, the specific terms of that agreement will determine the nature and extent of that Broker's duty to you.
YOU ARE STRONGLY ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF ALL ASPECTS OF THE PROPERTY.IF
YOU DO NOT DO SO,YOU ARE ACTING AGAINST THE ADVICE OF BROKERS.
E.YOU ARE ADVISED TO CONDUCT INVESTIGATIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE
FOLLOWING:
1. GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS: Foundation, roof, plumbing, heating, air
conditioning, electrical, mechanical, security, pool/spa, other structural and non-structural systems and components, fixtures,
built-in appliances,any personal property included in the sale,and energy efficiency of the Property. (Structural engineers are best
suited to determine possible design or construction defects,and whether improvements are structurally sound.)
2. SQUARE FOOTAGE,AGE,BOUNDARIES:Square footage,room dimensions, lot size,age of improvements and boundaries.Any
numerical statements regarding these items are APPROXIMATIONS ONLY and have not been verified by Seller and cannot be
verified by Brokers. Fences, hedges,walis, retaining walis and other natural or constructed barriers or markers do not necessarily
identify true Property boundaries. (Professionals such as appraisers, architects, surveyors and civil engineers are best suited to
determine square footage,dimensions and boundaries of the Property.)
3. WOOD DESTROYING PESTS: Presence of,or conditions likely to lead to the presence of wood destroying pests and organisms
and other infestation or infection. Inspection reports covering these items can be separated into two sections: Section 1 identifies
areas where infestation or infection is evident. Section 2 identifies areas where there are conditions likely to lead to infestation or
infection.A registered structural pest control company is best suited to perform these inspections.
4. SOIL STABILITY: Existence of fill or compacted soil,expansive or contracting soil,susceptibility to slippage,settling or movement,
and the adequacy of drainage. (Geotechnical engineers are best suited to determine such conditions,causes and remedies.)
The copyright laws of the United States (Title 17 U.S. Code) forbid the
unauthorized reproduction of this form,or any portion thereof,by photocopy Buyer's Initials(�)( )
machine or any other means,including facsimile or computerized formats. Seller's Initials(�_)(�_) �
Copyright OO 1991-2004, CALtFORNIA ASSOCIATION OF REALTORS�, �
INC.ALL RIGHTS RESERVED. Reviewed by Date Eouuxaxwc
07POHTUNITY
BIA-A REVISED 10/02(PAGE 1 OF 2)
BUYER'S INSPECTION ADVISORY BIA-A PAGE 1 OF 2
Agent: John Osbome Phone:(760)921-2121 Fax:(760)922-4387 Prepared using zipForrr�software
Broker:CENTURY 21 Osbome Rea ,41 Or uidia Ct Patm Desert,CA 92260
Property Address: �4572xi.ny�isherCira219oco1dersEagiQz, palm nesert, Ca 9226o Date:�iouat 21, 2014
5. ROOF: Present condition, age, leaks, and remaining useful life. (Roofing contractors are best suited to determine these conditions.)
6. POOUSPA:Cracks,leaks or operational problems. (Pool contractors are best suited to determine these conditions.)
7. WASTE DISPOSAL: Type, size, adequacy, capacity and condition of sewer and septic systems and components, connection to
sewer,and applicable fees.
8. WATER AND UTILITES; WELL SYSTEMS AND COMPONENTS: Water and utility availability, use restrictions and costs. Water
quality,adequacy,condition,and performance of well systems and components.
9. ENVIRONMENTAL HAZARDS: Potential environmental hazards, including, but not limited to, asbestos, lead-based paint and other
lead contamination, radon, methane, other gases, fuel oil or chemical storage tanks, contaminated soil or water, hazardous waste,
waste disposal sites, electromagnetic fields, nuclear sources, and other substances, materials, products, or conditions (including
mold (airborne, toxic or otherwise), fungus or similar contaminants). (For more information on these items, you may consult an
appropriate professional or read the booklets "Environmental Hazards: A Guide for Homeowners, Buyers, Landlords and Tenants,"
"Protect Your Family From Lead in Your Home"or both.)
10.EARTHQUAKES AND FLOODING: Susceptibility of the Property to earthquake/seismic hazards and propensity of the Property to
flood.(A Geologist or Geotechnical Engineer is best suited to provide infarmation an these conditions.)
11.FIRE, HAZARD AND OTHER INSURANCE: The availability and cost of necessary or desired insurance may vary. The location of
the Property in a seismic, flood or fire hazard zone, and other conditions, such as the age of the Property and the claims history of
the Property and Buyer, may affect the availability and need for certain rypes of insurance. Buyer should explore insurance options
early as this information may affect other decisions,including the removal of loan and inspection contingencies. (An insurance agent
is best suited to provide information on these conditions.)
12.BUILDING PERMITS, 20NING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certificates, zoning, other
governmental limitations, restrictions, and requirements affecting the current or future use of the Property, its development or size.
(Such information is available from appropriate governmentai agencies and private information providers.Brokers are not quatifiied to
review or interpret any such information.)
13.RENTAL PROPERTY RESTRICTIONS: Some cities and counties impose restrictions 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. Deadbolt or other locks and security
systems for doors and windows, including window bars, should be examined to determine whether they satisfy legal requirements.
(Government agencies can provide information about these restrictions and other requirements.)
14.SECURITY AND SAFETY: State and local Law may require the installation of barriers, access alarms, self-latching mechanisms
and/or other measures to decrease the risk to children and other persons of existing swimming poois and hot tubs,as well as various
fire safety and other measures concerning other features of the Property.Compliance requirements differ from city to city and county
to county. Unless specifically agreed, the Property may not be in compliance with these requirements. (Local government agencies
can provide information about these restrictions and other requirements.)
15.NEIGHBORHOOD, AREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS: Neighborhood or area conditions, including
schools, proximity and adequacy of law enforcement, crime statistics, the proximity of registered felons or offenders, fire protection,
other government services, availability, adequacy and cost of any speed-wired, wireless internet connections or other
telecommunications or other technology services and installations, proximity to commercial, industrial or agricultural activities,
existing and proposed transportation,construction and development that may affect noise,view,or traffic,airport noise, noise or odor
from any source, wild and domestic animals, other nuisances, hazards, or circumstances, protected species, wetland properties,
botanical diseases, historic or other governmentally protected sites or improvements,cemeteries,facilities and condition of common
areas of common interest subdivisions, and possible lack of compliance with any governing documents or Homeowners'Association
requirements, conditions and influences of significance to certain cultures and/or religions, and personal needs, requirements and
preferences of Buyer.
Buyer and Seller acknowiedge and agree that Broker: (i) Does not decide what price Buyer should pay or Seller should accept; (ii) Does not
guarantee the condition of the Property;(fii)Ooes not guarantee the performance,adequacy or completeness of inspections,services,products or
repairs provided or made by Seller or others;(iv)Does not have an obligation to conduct an inspection of common areas or areas off the site of the
Property;(v)Shall not be responsible for identifying defects on the Property,in common areas,or offsite unfess such defects are visually observable
by an inspection of reasonably accessible areas of the Property or are known to Broker;(vi)Shali not be responsible for inspecting public records or
permits concerning the title or use of Property;(vii)Shali not be responsib�e 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 information contained in Investigation reports,Multiple Listing
Service,advertisements,flyers or other promotional material;(ix)Shall not be responsible for providing legal or tax advice regarding any aspect of a
transaction entered into by Buyer or Seller;and(x)Shall not be responsible for providing other advice or information that exceeds the knowledge,
education and experience required to perform real estate licensed activity. Buyer and Seller agree to seek legal, tax, insurance, title and other
desired assistance from appropriate professionals.
By signing below, Buyer and Seller each acknowledge that they have read, understand, accept and have received a Copy of
this Advisory.Buyer is encouraged to read it carefully.
Buyer Signature Date Buyer Signature Date
A QuaZified buyer of loxer or moderate income
X X
Seller Signature Date Seller Signature Date
Pal.m. Desert Housiag Authority
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS�(C.A.R.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS.IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
This form is available for use by the entire real estate industry.It is not intended to identify the user as a REALTOR�.REALTOR�is a registered collective membership mark
which may be used only by members of the NATIONAI ASSOCIATION OF REALTORS�who subscribe to its Code ot Ethics.
- � Published and Disfibuted by: �
N REAL ESTATE BUSINESS SERVICES,INC. Reviewed by Date EWALHWSRlC
a subsidiary o(the Calilomia Assoda6on ot REALTORS� ovroeiur+iTv
` �525 South Virgil Avenue,Los Angeles,Califomia�020
BIA-A REVISED 10/02(PAGE 2 OF 2) Falcon Crest
BUYER'S INSPECTION ADVISORY(BIA-A PAGE 2 OF 2)
� C A L ! F O R N i A ADDENDUM
= A S S O C i A T I O N (C.A.R.Form ADM, Revised 4/12) NO. Z
I� OF REALTORS'R'
The following terms and conditions are hereby incorporated in and made a part of the: � Residential Purchase Agreement,
❑ Manufactured Home Purchase Agreement, ❑ Business Purchase Agreement, ❑ Residential Lease or Month-to-Month Rental
Agreement, O Vacant Land Purchase Agreement, ❑ Residential Income Property Purchase Agreement, ❑ Commercial Property
Purchase Agreement,❑Other
dated August 11, 20Z4 ,on property known as 74572KingFisherCir42190Go1denEagleL
Pa1m Desert, Ca 92260
in which A Quaiified buyer of 1o�rer, or moderate income is referred to as("�uyer/fienant")
and Pa1m Desert Kousing Autt�ority is referred to as("Seller/Landiord").
The sale of this property is subject to a public hearinQ
This Pro,Qerty Will Have A Restrictive Agreement That Buyer Must Execute And i+�ill Be
Recorded Against Subject Property Zn Favor Of The Pa1m Desert Housiac,ZAuthority lHousiag
Authorityl With Restrictions Zacluding But Not Li.mi.ted To Affordability Primary Residence
Requiremeats Resa.le Price Restrictions And A Right Of First Refusa.2 To The Pa1m Desert
Housing Authorit,K Among Other Restrictions Buver certifies that the statements contained
�� the questionaaire and supporting documents provided by Buper as part of a reauest for
assistance from the City of Palm Desert and the PaZm Desert Housiag Authority, are true and
complete and have beea used to determzne Buver as a quslified .8uyer for the purpose of
purchasing this propertv Buyer Will Siqn The Buyer's Worksheet And Low-income Household
Affidavi t.
The City Of Palm Desert and Palm Desert Housing Authority May Provide Down Paymeat
Assistance To Ensure An Affordable Housi� Cost Such Loan May Be Silent For AZ1 Or Part Of
2'he Tezm Of The Loan The Amount Of The Assistance Will Vary But WiZ3 Be In An Amount To
Enstsre An Affordable Housing Cost As Defined Under California Health And Safety Codes And
Continqent On The Pri.mary Loan Approva2
As Se11er Zs A Government Eatity Aad Not Subject To ReaZ Property Taxes No Proration Will
J4e Made Through Escro� For This Purcose Buyer Is ResAonsible From The Date Of Escrow
C�7nainQ gnr Resl Pz'oABZ'tv Taxes Due And Will Receive A Property Tax Bi11 Direct From The
'►'nx Collector`s Offiae
�er Agree� To Traasfer All IItilities Includin� Natural Gas Water And Electric
Imcaed±ate7� iTi�on CZose Of Escro�r
Nnti�+�aS Shall Be Address As Provided Herein For The Resnective Parties Provided That Zf
A�r ,s Party Gives Notice Ia Writing Of A Change Of Na�ae Or Address Notices To Such Party
Sha11 Thereafter Be Given As Demanded 2n The Notice
Se11er• 735Z0 Fred Wariao Drive Pa2m Desert Ca 92260
��Z. . �,��.,
The foregoing terms and conditions are hereby agreed to,and the undersigned acknowledge receipt of a copy of this document.
Date Date
BuyerlTenant X Seller/Landlord X
A QuaZified buyer of Zolrer Pa2m Desert Housing Authority
Buyer/Tenant Seller/�andlord X
or moderate income
The copyright laws of the United States(Title 17 U.S.Code)forbid the unauthorized reproduction of this form,or any portion thereof,by photocopy machine or any other means,
including facsimile or computerized formats.CopyrightOO 1986-2012,CALIFORNIA ASSOCIATION OF REALTORS�,INC.ALL RIGHTS RESERVED.
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS�(C.A.R.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS.IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
This form is available for use by the entire real estate industry.N is not intended to identify the user as a REALTOR�.REALTOR�is a registered collective membership mark
which may be used only by members of the NATIONAL ASSOCIATION OF REALTOFS�who subscribe to its Code of Ethics.
� Published and Disfibuted by:
„ REAL ESTATE BUSINESS SERVICES,INC.
' a subsidiary of the California Assoaation of REALTORS�
` a 525 South Virgil Avenue,Los Angeles,California 90020 �
ADM REVISED 4/12(PAGE 1 OF 1) Reviewed by Date Euup��usu+c
ADDENDUM{ADM PAGE 1 OF 1) OPPDXIUNITY
Agent: John Osbome Phone:(760)921-2121 Fax:(760)922-4387 Prepared using zipForrr�software
Broker:CENTURY 21 Osbome Real ,41 Or uidia Ct Palm Desert,CA 92260
CALIFORNIA
� C A L I F(7 R N[A RESIDENTIAL PURCHASE AGREEMENT
� A S S OC I A T I O N AND JOINT ESCROW INSTRUCTIONS
_�� C)F R E A L T C)R 5�` For Use With Singie Family Residential Property—Attached or Detached
(C.A.R.Form RPA-CA,Revised 4/13)
Date Auaust 11, 2014
1. OFFER:
A. THIS IS AN OFFER FROM A Q�alified buver of 1ou+er or moderate i.nccmte ("Buyer").
B. THE REAL PROPERTY TO BE ACQUIRED is described as 42197YesdinLane74642 Kina FisherCir, Pa1m Desert, Ca
92260 ,Assessor's Parcel No. 624-431-020 62�-940-02T ,situated in
Palm Desert ,County of Rinerside ,Califomia,("Property"►.
C. THE PURCHASE PRICE offered is Trro Hundred Twentv-Five Thousand
Dollars$ 225,000.00
D. GLOSE OF ESCHOW shall occur on 60 days ar saoner after Acaentance (date)(or� Days After Acceptance�.
2. AGENCY:
A. DISCLOSURE: Buyer and Seiler each acknowledge prior receipt of a "Disclosure Regarding Real Estate Agency Relationships"
(C.A.R.Form AD).
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and 5eller each acknowledge receipt of a disclosure of the possibility of
mu�tiple 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 ultimately acquire the Property. Seller understands that Broker representing Seller may also
represent other selisrs with competing properties of interest to this Buyer.
C. CONFIRMATION:The following agency reiationships are hereby confirmed for this transaction:
Listing Agent Century 21 Osborne Realtv (Print Firm Name)is the agent
of(check one): ❑the Seller exclusiveiy;or�both the Buyer and Seller.
Selling Agent Century 21 Osborne Realtv (Print Firm Name)(it not the same as the
Listing Agent)is the agent of(check one):❑the Buyer exclusiveiy;or Q the Seller exclusively;or�both the Buyer and Seller. Real Estate
Brokers are not parties to the Agreement between Buyer and Seller.
3. FINANCE TERMS:Buyer represents that funds will be good when deposited with Escrow Holder.
A. INITIAL DEPOSIT:Deposit shall be in the amount of ............................ ....................... $ 500.00
(1) Buyer shall deliver deposit directly to Escrow Holder by personal check, ❑electronic funds iransfer,❑ other
within 3 business days after acceptance (or�Other 15 );
OR(2)(If checked)❑Buyer has given the deposit by personal check(or � )
to the agent submitting the offer(or to❑ ),
made payable to .The deposit shall be held
uncashed until Acceptance and then deposited with Escrow Holder(or ❑into Broker's trust account) within 3
business days after Acceptance(or�Other ).
B. INCREASED DEPOSIT:Buyer shall deposit with Escrow Holder an increased deposit in the amount of . . . . . . . . . ..$
within Days After Acceptance,or❑ .
If a liquidated damages ctause is incorporated into this Agreement, Buyer and Seller shall sign a separate
liquidated damages clause(C.A.R.Form RID)for any increased deposit at the time it is Delivered.
C. LOAN(S):
(1) FIRST LOAN:in the amount of................ ...... .... . .......... .. . . ............... . ... . . ...$ TBD
This loan will be conventional financing or, if checked, ❑ FHA,❑VA, ❑Seller (C.A.R. Form SFA),
❑assumed financing(C.A.R.Form PAA), ❑Other .This loan shall be at a fixed
rate not to exceed %or,❑an adjustable rate loan with initial rate not to exceed %.
Regardless of the type of loan,Buyer shall pay points not to exceed %of the loan amount.
(2) ❑SECOND LOAN:in the amount of............ .......... ........ . ..... . ............ ..... . ..... $ TBD
This loan will be conventional financing or,if checked, ❑Seller(C.A.R. Form SFA), ❑assumed financing
(C.A.R.Form PAA), ❑Other SEE 3.D .This loan shall be at a fixed rate not to exceed
%or,❑an adjustabfe rate loan with initial rate not to exceed %.Regardless of
the type of loan, Buyer shall pay points not to exceed %of the loan amount.
(3) FHA/VA:For any FHA or VA loan specified above,Buyer has 17(or❑ )Days After Acceptance
to Deliver to Seller written notice (C.A.R. Form FVA) of any lender-required repairs or costs that Buyer
requests Seller to pay for or otherwise correct. Seller has no obligation to pay or satisfy lender requirements
unless othervvise agreed in writing.
D. ADDITIONAL FINANCING TERMS: Pa]m Desert Housina Authoritv and Citv of Palsn
Desert mav vrvide down vavment assistance, provided buver aualifies
E. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of..... ................. .... . ......$ 224,500.00
to be deposited with Escrow Holder within sufficient time to close escrow.
F. PURCHASE PRICE(TOTAL): ............. ......................... ......................... ......$ 225 ODO.00
Buyer's Initials(�_ )( ) Seller's Initials (�)(X_ ) �
�
EOURL HWSING
OO 2073,Califomia Association of REALTORS(�D,Inc. ovvoaTUNitr
RPA-CA REVISED 4/13(PAGE 1 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 1 OF 8)
Agent: John Osborne Phone:(760)921-2121 Fax:(760)922-4387 Prepared using zipForrr�software
Broker: CENTURY 21 Osbome Real ,41 Orquidia Ct Palm DeseK,CA 92260
42197VerdinLane74642 Kiag FisherCir
Property Address:Pal.m Desert, Ga 92260 Date:Auqust 11, 2014
G. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to 3H(1) shall,within 7 (or
� ) Days After Acceptance, Deliver to Seller written verification of Buyer's down payment and closing costs. (If checked,❑
verification attached.)
H. LOAN TERMS:
(1) LOAN APPLICATIONS:Within 7(or❑ ) Days After Acceptance, Buyer shall Deliver to Seller a letter from lender or loan
broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved for any NEW loan
specified in 3C above.(If checked,0 letter attached.)
(2) LOAN CONTINGENCY: Buyer shall act diligently and in good faith to obtain the designated loan(s). Obtaining the loan(s) specified above
is a contingency of this Agreement unless otherwise agreed in writing.Buyer's contractual obligations to obtain and provide deposit,balance of
down payment and closing costs are not contingencies of this Agreement.
(3) LOAN CONTINGENCY REMOVAL:
(i) Within 17(or� )Days After Acceptance, Buyer shall,as specified in paragraph 14, in writing remove the loan contingency or
cancel this Agreement;
OR(li) (if checked) ❑the loan contingency shall remain in effect until the designated loans are funded.
(4) ❑NO LOAN CONTINGENCY(If checked):Obtaining any loan specified above is NOT a contingency of this Agreement. If Buyer does not
obtain the loan and as a resufl Buyer does not purchase the Property,Seller may be entitled to Buyer's deposit or other legal remedies.
I. APPRAISAL CONTINGENCY AND REMOVAL:This Agreement is(or,if checked, ❑is NOT)contingent upon a wriTten appraisal of the Property
by a licensed or certified appraiser at no less than the specified purchase price. 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 146{3),in writing
remove the appraisal contingency or cancel this Agreement within 17(or )Days After Acceptance).If there is no loan contingency,
Buyer shall,as specified in paragraph 14B(3),in writing remove the appraisal contingency or cancel this Agreement within 17(or )
Days After Acceptance.
J. ❑ALL CASH OFFER(If checked):Buyer shall,within 7(or❑ ) Days After Acceptance, Deliver to Seller writien verification of
sufficient funds to close this transaction.(If checked, ❑verification attached.)
K. BUYER STATED FINANCING: Sel�er has re�ied on Buyer's representation of the type of financing specified (including but not limited to, as
applicable,amount of down payment,contingent or non contingent loan,or all cash).If Buyer seeks alternate financing,(i)Seller has no obligation
to cooperate with Buyer's efforts to obtain such financing, and (ii) Buyer shall also pursue the financing method specified in this Agreement.
Buyer's 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 here,in writing,this paragraph only determines who is to pay for the inspection,
test or service("Report")mentioned;it does not determine who is to pay for any work recommended or identified in the Report.
A. INSPECTIONS AND REPORTS:
(1) ❑ Buyer �Seller shall pay for an inspection and report for wood destroying pests and organisms ("Wood Pest Report"j prepared by
Sellers Choice a registered structural pest control company.
(2) ❑Buyer ❑Seller shall pay to have septic or private sewage disposal systems inspected
(3) ❑Buyer ❑Seller shall pay to have domestic wells tested for water potability and productivity
(4) ❑Buyer �Seller shall pay for a natural hazard zone disclosure report prepared by First American or similar
(5) �Buyer ❑Seller shall pay for the following inspection or report H�e Insnection if Buver opts to have one
{6) ❑Buyer ❑Seller shall pay for the foliowing inspection or report •
B. GOVERNMENT REQUIREMENTS AND RETROFIT:
(t) ❑Buyer �Seller shall pay for smoke detector installation and/or water heater bracing,if required by Law. Prior to Close Of Escrow,Seller
shall provide Buyer written statement(s)of compliance in accordance with state and local Law,unless exempt.
(2) ❑Buyer 0 Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards, inspections and
reports if required as a condition of ctosing escrow under any Law.
C. ESCROW AND TITLE:
(1) �Buyer�Seller shall pay escrow fee Each to pav his/her o�n
Escrow Holder shall be Foresite Escrow
(2) ❑Buyer �Seller shall pay for owner's title insurance policy specified in paragraph 12E
Owner's title policy to be issued by First American Tit1e
(Buyer shall pay for any title insurance poticy insuring Buyer's Iender,unless otherwise agreed in writing.)
D. OTHER COSTS:
(1) ❑Buyer �Seller shall pay County transfer tax or fee
(2) ❑Buyer �Seller shall pay Ciry transfer tax or fee
(3) ❑Buyer �Seller shall pay Homeowner's Association("HOA")transfer fee
(4) ❑Buyer �Seller shall pay HOA document preparation fees Related Fees
(5) ❑Buyer ❑Seller shall pay for any private transfer fee
(6) ❑ Buyer �Seller shall pay the cost,not to exceed$ 350.00 ,of a one-year home warranty p�an,
issued by American H�e Shield ,with the following optional coverages:
�Air Conditioner ❑Pool/Spa❑Code and Permit upgrade �Other:Apnliances
Buyer is informed that home warranty plans have many optional coverages in addition to those listed above.Buyer is advised to investigate
these coverages to determine those that may be suitable for Buyer.
(7) ❑Buyer �Seller shall pay for
(8) ❑Buyer�Selier shall pay for
Buyer's Initials(� )( ) Seiler's Initials(x_ )(X_ ) �
RPA-CA REVISED 4/13(PAGE 2 OF 8) Reviewed by Date o°v��e�` Nii'v
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 2 OF 8) Falcon Crest
42197Verdinbane74642 King FisherCir
Property Address:Pa1m Desert, Ca 92260 Date:August 11, 2014
5. CLOSING AND POSSESSION:
A. Buyer intends(or❑does not intend)to occupy the Property as Buyer's primary residence.
B. Seiler-occupfed or vacant property:Possession shall be delivered to Buyer at 5 PM or(❑ ❑AM� PM) on the date of Close
Of Escrow; ❑on ;or�no later than Days After Close Of Escrow.If transfer of tiile
and possession do not occur at the same time,Buyer and Seller are advised to:(i)enter into a written occupancy agreement(C.A.R. Form PAA,
paragraph 2);and(il)consuit with their insurance and legal advisors.
C. Tenant-occupied property:(i)Property shali be vacani at least 5(or❑ )Days Prior to Close Of Escrow,unless otherwise agreed
in writing.Note to Seller:If you are unable to deliver Property vacant in accordance with rent control and other applicable Law,you may
6e in breach of ihis Agreement.
OR(ii)(if checked)�Tenant to remain in possession.(C.A.R.Form PAA,paragraph 3)
D. At Close Of Escrow,(i)Seller assigns to Buyer any assignable warranty rights for items included in the sale,and(ii)Seller shall Deliver to Buyer
available Copies of warranties.Brokers cannot and will not determine the assignability of any warranties.
E. At Close Of Escrow,unless otherwise agreed in writing,Seller shail provide keys and/or means to operate ail locks,mailboxes,security systems,
alarms and garage door operrers. If Property is a condominium or located in a common interest subdivision, Buyer may be required to pay a
deposit to the Homeowners'Association("HOA")to obtain keys to accessible HOA facilities.
6. STATUTORY DISCLOSURES(INCLUDING LEAD-BASED PAINT HAZARD DISCLOSURES)AND CANCELLATION RIGHTS:
A. (1) Seller shall,within the time specified in paragraph 14A,Deiiver to Buyer,if required by Law:(i)Federal Lead-Based Paint Disclosures(C.A.R.
Form FLD)and pamphlet("Lead Disclosures");and(ii)disclosures or notices required by sections 1102 et.seq.and 1103 et.seq.of the Civil
Code ("Statutory Disclosures"). Statutory Disclosures include, but are not limited to, a Real Estate Transfer Disclosure Statement ("TDS"),
Natural Hazard Disclosure Statement ("NHD"), notice or actual knowledge of release of illegal controlled substance, notice of speciai tax
and/or assessments(or,if allowed,substantially equivalent notice regarding the Mello-Roos Community Facilities Act and Improvement Bond
Act of 1915)and,if Seller has actual knowledge,of industrial use and military ordnance location(C.A.R.Form SPQ or SSD).
(2) Buyer shall,within the time specified in paragraph 146(1),return Signed Copies of the Statutory and Lead Disclosures to Seller.
(3) In the event Seller, prior to Close Of Escrow, becomes aware ot adverse conditions materia�ly affecting the Property, or any material
inaccuracy in disclosures, information or representations previousiy provided to Buyer, Seller shall promptly provide a subsequent or
amended disclosure or notice,in writing,covering those items. However,a subsequent or amended disclosure shall not be required for
conditions and material inaccuracies of which Buyer is otherwise aware,or which are disclosed in reports p�ovided to or obtained by
Buyer or ordered and paid for by Buyer.
(4) If any disclosure or notice specified in 6A(1),or subsequent or amended disclosure or notice is Delivered to Buyer after the offer is Signed,
Buyer shall have the right to cancel this Agreement within 3 Days After Delivery in person,or 5 Days After Delivery by deposit in the mail,by
giving written notice of canceliation to Seller or Seller's agent.
(5) Note to Buyer and Seller:Waiver of Statutory and Lead Disclosures is prohibited by Law.
B. NATURAL AND ENVIRONMENTAL HAZARDS:Within the time specified in paragraph 14A,Seller shall,if required by Law:(i)Deliver to Buyer
earthquake guides(and questionnaire) and environmental hazards bookiet;(ii)even if exempt irom the obligation to provide a NHD,disclose if
the Property is located in a Special Flood Hazard Area; Potential Flooding (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earthquake Fault Zone;Seismic Hazard Zone;and(iii)disclose any other zone as required by Law and provide any other
information required for those zones.
C. WITHHOLDING TAXES: Within the time specified in paragraph 14A, to avoid required withholding, Seller shall Deliver to Buyer or qualified
substitute,an affidavit sufficient to comply with federal(FIRPTA)and California withholding Law(C.A.R.Form AS or QS).
D. MEGAN'S lAW DATABASE DISCLOSURE:Notice: Pursuant to Section 290.46 of the Penal Code,information about specified registered sex
offenders is made available to the public via an Intemet Web site maintained by the Department of Justice at www.meganslaw.ca.gov.Depending
on an offender's criminal history,this information will include either the address at which the offender resides or the community of residence and
ZIP Code in which he or she resides. (Neither Seller nor Brokers are required to check this website. If Buyer wants further information, Broker
recommends that Buyer obtain information from this website during Buyer's inspection contingency period. Brokers do not have expertise in this
area.)
E. NOTICE REGARDING GAS AND HAZARDOUS LI�UID TRANSMISSION PIPEIINES:This notice is being provided simply to inform you that
information about the general location of gas and hazardous liquid transmission pipelines is available to the public via the National Pipeline
Mapping System(NPMS)Internet Web site maintained by the United States Department of Transportation at http://www.npms.phmsa.dot.gov/.To
seek further information abo�t possible transmission pipelines near the Property,you may contact your local gas utility or other pipeline operators
in the area.Contact information for pipeline operators is searchable by ZIP Code and county on the NPMS Internet Web site.
7. CONDOMINIUM/PLANNED DEVELOPMENT DISCLOSURES:
A. SELLER HAS:7(or❑ )Days After Acceptance to disclose to Buyer whether the Property is a condominium,or is located in a
planned development or other common interest subdivision(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.A.R.Form HOA):(i)Copies of any documenis required by Law;(ii)disclosure of any pending
or anticipated claim or litigation by or against the HOA;(iii)a statement containing the location and number of designated parking and storage
spaces;(iv)Copies of the most recent 12 months of HOA minutes for regular and special meetings;and(v)the names and contact information of
all HOAs governing the Property(collectively,"CI Disciosures").Seller shall itemize and Deliver to Buyer ali CI Disclosures received from the HOA
and any CI Disclosures in Seller's possession. Buyer's approval of CI Disclosures is a contingency of this Agreement as specified in paragraph
14B(3).
8. ITEMS INCLUDED IN AND EXCLUDED FROM PURCHASE PRICE:
A. NOTE TO BUYEH AND SELLER:Items listed as included or excluded in the MLS,flyers or marketing materials are not included in the purchase
price or excluded from the sale unless specified in 8B or C.
B. iTEMS INCLUDED IN SALE:
(1) All EXISTING fixtures and fittings that are attached to the Property;
(2) EXISTING electrical,mechanical,lighting,plumbing and heating fixtures,ceiling fans,fireplace inserts,gas logs and grates,solar systems,
built-in appliances,window and door screens, awnings, shutters,window coverings, attached floor coverings, television antennas, satellite
dishes, private integrated telephone systems, air coolers/conditioners, pool/spa equipment,garage door openers/remote controls, mailbox,
in-ground landscaping,trees/shrubs,water softeners,water purifiers,security systems/alarms;(If checked)�stove(s), ❑refrigerator(s);
Buyer's Initials(�_ )( ) Seller's Initials (�_ )(� ) �
RPA-CA REVISED 4/13(PAGE 3 OF 8)
Reviewed by Date oPPo �
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 3 OF 8) Falcon Crest
42197VerdiaLane74642 King FisherCir
Property Address:PaZm Desert, Ca 92260 Date:August Z1, 20I4
(3) The following additional items: So1ar Svst� if so ecauipned
(4) Seller represents that all items included in the purchase price,unless otherwise specified,are owned by Seller.
(5) All items included shall be transferred free of liens and without Se�ler warranty.
C. ITEMS EXCLUDED FROM SALE:Unless otherwise specified,audio and video components(such as flat screen TVs and speakers)are excluded
if any such item is not itself attached to the Property,even if a bracket or other mechanism attached to the component is attached to the Property;
and
9. CONDITION OF PROPERTY:Unless othervvise agreed:(i)the Property is sold(a)in its PRESENT physical("as-is")condition as of the date
of Acceptance and (b) subject to Buyer's Investigation righis; (ii) the Property, including pool, spa, landscaping and grounds, is to be
maintained in substantially the same condition as on the date of Acceptance;and(iii)all debris and personal property not included in the sale shall
be removed by Close Of Escrow.
A. Seller shall,within the time specified in paragraph 14A,DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting the Property,including
known insurance claims within the past five years,and make any and all other disclosures required by law.
B. Buyer has the right to inspect the Property and, as specified in paragraph 14B, based upon information discovered in those inspections: (i)
cancel this Agreement;or(ii)request that Seller make Repairs or take other action.
C. �uyer is strongly advised to conduet investigations of the entire Property in order to determine its present condition.Selier may not be
aware of all defects affecting the Property or other factors that Buyer considers important. Property improvements may not be buiit
according to code,in compliance with current Law,or have had permits issued.
10. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A. Buyer's acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified in this
paragraph and paragraph 146. Within the time specified in paragraph 14B(1), Buyer shall have the right, at Buyer's expense unless otherwise
agreed,to conduct inspections,investigations,tests,surveys and other studies("Buyer investigations"),including,but not limited to,the right to:
(i) inspect for lead-based paint and other lead-based paint hazards; (ii) inspect for wood destroying pests and organisms; (iii) review the
registered sex offender database;(iv)confirm the insurability of Buyer and the Property;and(v)satisfy Buyer as to any matter specified in the
attached Buyer's Inspection Advisory(C.A.R.Form BIA).Without Seller's prior written consent,Buyer shall neither make nor cause to be made:(i)
invasive or destructive Buyer Investigations;or(ii)inspections by any governmental buiiding or zoning inspector or government employee,unless
required by Law.
B. Seller shall make the Property available for atl Buyer Investigations. Buyer shall{i)as specified in paragraph 146,complete Buyer Investigations
and,either remove the contingency or cancel this Agreement,and(ii)give Seller,at no cost,complete Copies of afi Investigation reports obtained
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
availabie to Buyer.
D. Buyer indemnity and Seller protection for entry upon property:Buyer shall:(i)keep the Property free and clear of liens;(ii)repair all damage
arising from Buyer Investigations;and(iii)indemnify and hold Seller harmless from all resulting liability,claims,demands,damages and costs.
Buyer shall carry,or Buyer shall require anyone acting on Buyer's behalf to carry,policies of liability,workers'compensation and other applicable
insurance,defending and protecting Seller from liability for any injuries io persons or property occurring during any Buyer Investigations or work
done on the Property at Buyer's direction prior to Close Of Escrow.Selier is advised that certain protections may be afforded Seller by recording a
"Notice of Nonresponsibility"(C.A.R.Form NNR)for Buyer Investigations and work done on the Property at Buyer's direction.Buyer's obligations
under this paragraph shall survive the termination of this Agreement.
11. SELLER DISCLOSURES;ADDENDA;ADVISORIES;OTHER TERMS:
A. Selier Disclosures(if checked):Seller shall,within the time specified in paragraph 14A,complete and provide Buyer with a:
�Seller Property Questionnaire(C.A.R.Form SPQ) OR �Supplemental Contracival and Statutory Disclosure(C.A.R.Form SSD)
B. Addenda(if checked): �addendum# 1 (C.A.R.Form ADM)
�Wood Destroying Pest Inspection and Allocation of Cost Addendum(C.A.R.Form WPA)
❑ Purchase Aqreement Addendum(C.A.R Form PAA) ❑ Septic,Weil and Property Monument Addendum(C.A.R.Form SWPI)
❑Short Sale Addendum(C.A.R.Form SSA) ❑Other
C. Advisories(if checked): � 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 Advisary(C.A.R.Form REO)
D. Other Terms:
12.TITLE AND VESTING:
A. Within the time specified in paragraph 14, Buyer shall be provided a current preliminary title report,which shali include a search of the General
Index, Seller shall within 7 Days After Acceptance,give Escrow Holder a completed Statement of Information.The preliminary report is only an
offer by the title insurer to issue a policy of title insurance and may not contain every item affecting title. Buyer's review of the preliminary report
and any other matters which may affect title are a contingency of this Agreement as specified in paragraph 14B.
B. Title is taken in its present condition subject to ali encumbrances, easements, covenants, conditions, restrictions, rights and other matters,
whether of record or not,as of the date of Acceptance except:(i)monetary liens of record unless Buyer is assuming those obligations or taking
the Property subject to those obligations;and(ii)those matters which Selter 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 Setler affecting title,whether of record or
not.
D. At Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for stock cooperative or long-term Iease, an assignment of stock
certificate or of Seller's leasehold interest), including oil,mineral and water rights if currentiy owned by Seller.Titie shall vest as designated in
Buyer's supplemental escrow instructions.THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEQUENCES.
CONSULT AN APPROPRIATE PROFESSIONAL.
E. Buyer shall receive a CLTA/ALTA Homeowner's Policy of Title Insurance.A title company,at Buyer's request,can provide information about the
availability,desirability,coverage,and cost of various title insurance coverages and endorsements. If Buyer desires title coverage other than that
required by this paragraph,Buyer shall instruct Escrow Holder in writing and pay any increase in cost.
Buyer's Initials(� )( ) Seller's Initials (�_)(�) �
RPA-CA REVISED 4/13(PAGE 4 OF 8) Reviewed by Date QPPo�
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 4 OF 8) Falcon Crest
42197VerdiuLane74642 King FisherCir
Property Address:Pa1m Desert, Ca 92260 Date:August 11, 2019
13.SALE OF BUYER'S PROPERTY:
A. This Agreement is NOT contingent upon the sale of any property owned by Buyer.
OR B. ❑(If checked):The attached addendum(C.A.R. Form COP) regarding the contingency for the sale of property owned by Buyer is incorporated
into this Agreement.
14.TIME PERIODS; REMOVAL OF CONTINGENCIES; CANCEI�ATION RIGHTS: The following time periods may only be extended, altered,
modified or changed by mutual written agreement.Any removal of contingencies or cancellation under this paragraph by either Buyer or
Seller must be exercised in good faith and in writing(C.A.R.Form CR or CC).
A. SELLER HAS: 7(or� IS )Days After Acceptance to Deliver to Buyer all Reports,disclosures and information for which Seller is
responsible under paragraphs 4, 6A, B and C,7A, 9A, 11A and B,and 12A. Buyer may give Seller a Notice to Seller to Perform(C.A.R. Form
NSP)if Seller has not Delivered the items within the time specified.
B. (1) BUYER HAS: 17(or❑ )Days After Acceptance,unless otherwise agreed in writing,to:
(i) complete all Buyer Investigations;approve all disclosures,reports and other applicable information,which Buyer receives from Seller;and
approve all matters affecting the Property;and
(ii) Deliver to Seller Signed Copies of Statutory and Lead Disclosures Delivered by Seller in accordance with paragraph 6A.
(2) Within the time specified in 146(1},Buyer may request that Seller make repairs or take any other action regarding the Property(C.A.R. Form
RR).Seller has no obligation to agree to or respond to Buyer's requests.
(3) By the end of the time specified in 14B(i) (or as otherwise specified in this Agreement), Buyer shall, Deliver to Seller a removal of the
applicable contingency or cancellation(C.A.R.Form CR or CC)of this Agreement.However,if any report,disclosure or information for which
Seller is responsible is not Delivered within the time specified in 14A,then Buyer has 5(or❑ )Days After Delivery of any such
items,or the time specified in 14B(1),whichever is later,to Deliver to Seller a removal of the applicable contingency or cancellation of this
Agreement.
(4) Continuation of Gontingency:Even after the end of the time specified in 14B(1)and before Seller cancels,if at all,pursuant to 14C,Buyer
retains the right to either(i)in writing remove remaining contingencies,or(ii)cancel this Agreement based on a remaining contingency.Once
Buyer's written removal of all contingencies is Delivered to Sel�er,Selier may not cancel this Agreement pursuant to 14C(1).
C. SELLER RIGHT TO CANCEL:
(1) Seller right to Cancel;Buyer Contingencies:If,by the time specitied in this Agreement, Buyer does not Deliver to Seller a removal of the
applicable contingency or cancellation of this Agreement then Seller,after first Delivering to Buyer a Notice to Buyer to Per(orm(C.A.R.Form
NBP)may cancei this Agreement.In such event,Seller shall authorize return of Buyer's deposit.
(2) Seller right to Cancel;Buyer Contract Obligations:Seller,after first Delivering to Buyer a NBP may cancel this Agreement for any of the
following reasons:(i)if Buyer fails to deposit funds as required by 3A or 36;(fi)if the funds deposited pursuant to 3A or 3B are not good when
deposited;(iii)if Buyer faiis to Deliver a notice of FHA or VA costs or terms as required by 3C(3) (C.A.R. Form FVA);(iv) if Buyer fails to
Deliver a letter as required by 3H;(v)if Buyer fails to Deliver verification as required by 3G or 3J;(vi)if Seller reasonably disapproves of the
verification provided by 3G or 3J;(vii)if Buyer fails to return Statutory and Lead Disclosures as required by paragraph 6A(2);or(viii)if Buyer
fails to sign or initial a separate liquidated damages form for an increased deposit as required by paragraphs 38 and 25.In such event,Seller
shall authorize retum of Buyer's deposit.
(3) Notice To Buyer To Perform:The NBP shall:(i)be in writing;(ii)be signed by Seller;and(iii)give Buyer at least 2(or❑ )Days
After Delivery(or until the time specified in the applicable paragraph,whichever occurs last)to take the applicable action.A NBP may not be
Delivered any earlier than 2 Days Prior to the expiration of the applicable time for Buyer to remove a contingency or cancel this Agreement or
meet an obligation specified in 14C(2).
D. EFFECT OF BUYER'S REMOVAL OF CONTINGENCIES: If Buyer removes, in writing,any contingency or cancellation rights,unless otherwise
specified in a separate written agreement between Buyer and Seller, Buyer shall conclusively be deemed to have: (i) completed all Buyer
Investigations, and review of reports and other applicable information and disclosures pertaining to that contingency or canceliation right; (ii)
elected to proceed with ihe transaction; and (iii) assumed all liability, responsibility and expense for Repairs or corrections pertaining to that
contingency or cancellation right,or for inability to obtain financing.
E. CLOSE OF ESCROW: Before Seller or Buyer may cancel ihis Agreement for failure of the other party to close escrow pursuant to this
Agreement,Seller or Buyer must first Deliver to the other a demand to close escrow(C.A.R.Form DCE).
F. EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation pursuant to rights duly exercised under the
terms of this Agreement, Buyer and Seller agree to Sign mutual instructions to cancet 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 of funds will require mutual Signed release instructions from Buyer and Seller,
judicial decision or arbitration award. A Buyer or Seller may be subject to a civil penalty of up to $1,000 for retusal to sign such
instructions if no good faith dispute exists as to who is entitled to the deposited funds(Civil Code§1057.3).
15. REPAIRS: Repairs shall be completed prior to final verification of condition unless otherwise agreed in writing. Repairs to be performed at Seller's
expense may be performed by Seller or through others, provided that the work complies with applicable Law, including governmental permit,
inspection and approvai requirements. Repairs shall be performed in a good,skiliful manner with materials of quality and appearance comparable to
existing materia�s. It is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible.Seller shall:(i)
obtain receipis for Repairs performed by others; (ii)prepare a written statement indicating the Repairs performed by Seller and the date of such
Repairs;and(fii)provide Copies of receipts and statements to Buyer prior to final verification of condition.
16. FINAL VERIFICATION OF CONDITION:Buyer shall have the right to make a final inspection of the Property within 5(or )Days Prior
to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm:(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 under this Agreement(C.A.R.Form VP).
17. PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS:Uniess otherwise agreed in writing,the fo�lowing items shali 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 assessments imposed prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and assessments
assumed by Buyer,and payments on Meilo-Roos and other Special Assessment District bonds and assessments that are now a lien.The following
items shali be assumed by Buyer WITHOUT CREDIT toward the purchase price:prorated payments on Mello-Roos and other Special Assessment
District bonds and assessments and HOA special assessments that are now a lien but not yet due. Property will be reassessed upon change of
ownership. Any suppiemental tax bilis shall be paid as foliows:(i)for periods after Close Of Escrow,by Buyer;and(ii)for periods prior to Close Of
Escrow,by Seller(see C.A.R. Form SPT or SBSA for further information).TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED
DIRECTLY BETWEEN BUYER AND SELLER.Prorations shall be made based on a 30-day month.
Buyer's Initiais(� )( ) Seller's initials(� )(�_) �
RPA-CA REVISED 4/13(PAGE 5 OF 8) Reviewed by Date �P��
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 5 OF 8) Falcon Crest
42Z97Verdinbane74642 King FisherCir
Property Address:Palm Desert, Ca 92260 Date:August 11, 20Z4
18. SELECTION OF SERVICE PROVIDERS: Brokers do not guarantee the performance of any vendors, service or product providers ("Providers"),
whether referred by Broker or selected by Buyer,Seller or other person.Buyer and Seller may select ANY Providers of their own choosing.
19. MULTIPLE LISTING SERVICE("MLS"):Brokers are authorized to report to the MLS a pending sale and,upon Close Of Escrow,the sales price and
other terms of this transaction shall be provided to the MLS to be published and disseminated to persons and entities authorized to use the
information on terms approved by the MLS.
20. EQUAL HOUSING OPPORTUNITY:The Property is sold in compliance with federal,state and local anti-discrimination Laws.
21. A7TORNEY FEES: In any action,proceeding,or arbitration between Buyer and Seller arising out of this Agreemen[,the prevailing Buyer or Seller
shail be entitled to reasonable attorney fees and cosis from the non-prevailing Buyer or Seiler,except as provided in paragraph 26A.
22. DEFINITIONS:As used in this Agreement:
A. "Acceptance"means the time the offer or final counter offer is accepted in writing by a party and is delivered to and personally received by the
other party or that party's authorized agent in accordance with the terms of this offer or a final counter offer.
B. "C.A.R.Form"means the specific form referenced or another comparable form agreed to by the parties.
C, "Close Of Eserow"means the date the grant deed,or other evidence of transfer of title,is recorded.
D. "Copy"means copy by any means including photocopy,NCR,facsimile and electronic.
E. "Days"means calendar days.However,after Acceptance,the last Day for performance of any act required by this Agreement(including Close Of
Escrow)shall not inciude any Saturday,Sunday,or legal holiday and shall instead be the next Day.
F. "Days After"means the specified number of calendar days after the occurrence of the event specified,not counting the calendar date on which
the specified event occurs,and ending at 11:59PM on the final day.
G. "Days Prior"means the specified number of calendar days before the occurrence of The event specified,not counting the calendar date on which
the specified event is scheduled to occur.
H. "Deliver", "Delivered"or"Delivery", means and shall be effective upon (i) personal receipt by Buyer or Seller or the individual Real Estate
Licensee for that principat as specified in paragraph D of the section titled Real Estate Brokers on page 8, regardless of the method used (i.e.
messenger,maii,email,fax,other);OR(ii)if checked,❑per the attached addendum(C.A.R.Form RDN).
i. "Electronic Copy"or"Electronic Signature"means, as applicable,an electronic copy or signature complying with California Law. Buyer and
Seller agree that electronic means will not be used by either party to modify or after the content or integrity of this Agreement without the
knowledge and consent of the other.
J. "Law"means any law,code,statute,ordinance,regulation,rule or order,which is adopted by a controlling city,county,state or federal legislative,
judicial or executive body or agency.
K. "Repairs"means any repairs(including pest control),aiterations,replacements,modifications or retrofitting of the Property provided for under this
Agreement.
L. "Signed"means either a handwritten or electronic signature on an original document,Copy or any counterpart.
23. BROKER COMPENSATION: Seller or Buyer, or both, as applicable, agrees to pay compensation to Broker as specified in a separate written
agreement between Broker and that Seller or Buyer. Compensation is payable upon Close Of Escrow, or if escrow does not close, as otherwise
specified in the agreement between Broker and that Seller or Buyer.
24.JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:
A. The following paragraphs,or applicable portions thereof,of this Agreement constitute the joint escrow instructions of Buyer and Seller
to Escrow Holder,which Escrow Holder is to use along with any related counter offers and addenda,and any additional mutual instructions to
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
8.If a Copy of the separate compensation agreement(s)provided for in paragraph 23,or paragraph D of the section titled Real Estate Brokers on
page 8 is deposited with Escrow Holder by Broker,Escrow Holder shall accept such agreement(s)and pay out from Buyer's or Seller's funds,or
both,as appiicable,the Broker's compensation provided for in such agreement(s).The terms and conditions of this Agreement not set forth in the
specified paragraphs are additional matters for the information of Escrow Holder,but about which Escrow Holder need not be concerned. Buyer
and Seller will receive Escrow Holder's general provisions directly from Escrow Holder and will execute such provisions upon Escrow Holder's
request.To the exteni the general provisions are inconsistent or conflict with this Agreement,the general provisions will control as to the duties
and obligations of Escrow Holder only.Buyer and Seller will execute additional instructions,documents 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
Iniormation to Title company when received from Seller. Buyer and Seller authorize Escrow Holder to accept and rely on Copies and Signatures
as defined in this Agreement as originals,to open escrow and for other purposes of escrow.The validity of this Agreement as between Buyer and
Seller is not affected by whether or when Escrow Holder Signs this Agreement.
C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraph 23 and paragraph D of the section titled Real
Estate Brokers on page 8. Buyer and Seller irrevocably assign to Brokers compensation specified in paragraph 23,respectively,and irrevocably
instruct Escrow Holder to disburse those funds to Brokers at Close Of Escrow or pursuant to any other mutually executed cancellation agreement.
Compensation instructions can be amended or revoked only with the written consent of Brokers.Buyer and Seller shall release and hold harmless
Escrow Holder from any liability resulting from Escrow Holder's payment to Broker(s)of compensation pursuant to this Agreement. Escrow Holder
shali immediately notify Brokers:(i)if Buyer's initial or any additional deposit is not made pursuant to this Agreement,or is not good at time of
deposit with Escrow Holder;or(fi)if Buyer and Seller instruct Escrow Holder to cancel escrow.
D. A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be delivered to Escrow
Holder within 2 business days after mutual execution of the amendment.
Buyer's Initials{�_ )( ) Seller's Initials(�_)(�_) �
RPA-CA REVISED 4/13(PAGE 6 OF 8) Reviewed by Date oWu��Y
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 6 OF 8) Falwn Crest
42197VerdinLane74642 King FisherCir
Property Address:Pa1m Desert Ca 92260 Date:August 11, 2014
25.LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyer's default, Seller shall retain, as
liquidated damages,the deposit actually paid.If the Property is a dwelling with no more than four units,one of which Buyer
intends to occupy,then the amount retained shall be no more than 3%of the purchase price.Any excess shall be returned
to Buyer. Release of funds will require mutual,Signed release instructions from both Buyer and Seller,judicial decision or
arbitration award. AT TIME OF THE INCREASED DEPOSIT BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT(C.A.R.FORM RID).
Bu er's Initiais / Seiler's Initials /
26. DISPUTE RESOLUT�ON:
A. MEDIATION: Buyer and Seller agree to mediate any dispute or claim arising between them out of this Agreement,or any resulting transaction,
before resorting to arbitration or court action.Buyer and Seller also agree to mediate any disputes or claims with Broker(s),who,in writing,
agree to such mediation prior to,or within a reasonable time after,the dispute or claim is presented to the Broker.Mediation fees,if any,
shall be divided equally among the parties involved. if,for any dispute or claim to which this paragraph applies,any party(I)commences an action
without first attempting to resolve lhe matier through mediation,or(ii)beiore commencement of an aciion,refuses to mediate atter a request has
been made,then that party shall not be entitled to recover attorney fees,even if they would otherwise be available to that parry in any such action.
THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED.Exclusions trom this mediation
agreement are specified in paragraph 26C.
B. ARBITRATION OF DISPUTES:
Buyer and Seller agree that any dispute or claim in Law or equity arising between them out of this Agreement or any
resulting transaction,which is not settled through mediation,shall be decided by neutral, binding arbitration. Buyer and
Seller also agree to arbitrate any disputes or claims with Broker(s),who, in writing,agree to such arbitration prior to,or
within a reasonable time after,the dispute or claim is presented to the Broker.The arbitrator shall be a retired judge or
justice,or an attorney with at least 5 years of residential reai estate Law experience,unless the parties mutually agree to
a different arbitrator.The parties shall have the right to discovery in accordance with Code of Civil Procedure§1283.05.
In all other respects, the arbitration shali be conducted in accordance with Title 9 of Part 3 of the Code of Civil
Procedure.Judgment upon the award of the arbitrator(s)may be entered into any court having jurisdiction. Enforcement
of this agreement to arbitrate shall be governed by the Federal Arbitration Act. Exclusions from this arbitration
agreement are specified in paragraph 26C.
"NOTICE:BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT
OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION
AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE
DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR
JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE
'ARBITRATION OF DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS
PROVISION,YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL
PROCEDURE.YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY."
"WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT
OF THE MATTERS INCLUDED IN THE'ARBITRA710N OF DISPUTES'PROVISION TO NEUTRAL ARBITRATION."
Bu er's Initials / Seller's Initials /
C. ADDITIONAL MEDIATION AND ARBITRATION TERMS:
(1) EXCLUSIONS: The following matters are excluded from mediation and arbitration: (i) a judicial or non-judicial foreciosure or other
action or proceeding to enforce a deed of trust, mortgage or installment land sale contract as defined in Civil Code §2985; (ii) an
unlawful detainer action; (iii) the filing or enforcement of a mechanic's lien; and (iv) any matter that is within the jurisdiction of a
probate,small claims or bankruptcy court.The filing of a court action to enable the recording of a notice of pending action,for order of
attachment, receivership, injunction, or other provisional remedies, shall not constitute a waiver nor violation of the mediation and
arbitration provisions.
(2) BROKERS: Brokers shall not be obligated nor compelled to mediate or arbitrate unless they agree to do so in writing.Any Broker(s)
participating i�mediation or arbitration shall not be deemed a party to the Agreement.
27.TERMS AND CONDITIONS OF OFFER:
This is an offer to purchase the Property on the above terms and conditions. The liquidated damages paragraph or the arbitration of disputes
paragraph is incorporated in this Agreement if initialed by all parties or if incorporated by mutual agreement in a counter offer or addendum.If at least
one but not all parties initial,a counter offer is required until agreement is reached.Seller has the right to continue to offer the Property for sale and to
accept any other offer at any time prior to notification of Acceptance.Buyer has read and acknowledges receipt of a Copy of the offer and agrees to
the above confirmation of agency relationships. If this offer is accepted and Buyer subsequently defaults, Buyer may be responsible for payment of
Brokers' compensation. This Agreement and any supplement, addendum or modification, including any Copy, may be Signed in two or more
counterparts,all of which shall constitute one and the same writing.
28.TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time is of the essence. All understandings between the parties are incorporated in this
Agreement. Its terms are intended by the parties as a final,complete and exclusive expression of their Agreement with respect to its subject matter,
and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement.If any provision of this Agreement is held to be
ineffective or invalid,the remaining provisions will nevertheless be given full force and effect. Except as otherwise specified,this Agreement shall be
interpreted and disputes shall be resolved in accordance with the laws of the State of California. Neither this Agreement nor any provision in it
may be extended,amended,modified,altered or changed,except in writing Signed by Buyer and Seller.
Buyer's Initiais(� )( ) Seller's Initials (�_)(X_) �
RPA-CA REVISED 4/13(PAGE 7 OF 8) Reviewed by Date �P���
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 7 OF 8) Falcon Crest
42197Verdiabane74642 Kiag FisherCir
Property Address:Pa3.m Desert, Ca 92260 Date:August 11, 2014
29. EXPIRATION OF OFFER:This offer shall be deemed revoked and the deposit shall be returned unless the offer is Signed by Seller and a Copy of the
Signed offer is personally received by Buyer,or by ,who is
authorized to receive it, by 5:00 PM on the third Day after this offer is signed by Buyer (or, if checked,❑ by
❑AM❑ PM,on (date)).
Date Date
BUYER X BUYER
A �ualified buyer of 2aA*er or moderate ine�e
(Print name) (Print name)
(Address)
30. ACCEPTANCE OF OFFER:Seller 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. Seller has
read and acknowledges receipt of a Copy of this Agreement,and authorizes Broker to Deliver a Signed Copy to Buyer.
❑ (If checked)SUBJECT TO ATTACHED COUNTER OFFER(C.A.R.Form CO)DATED: .
Date Date
SELLER X SELLER X
PaZm Desert Housina Authoritv
(Print name) (Print name)
73-520 Fred Warina Drive, Palm Desert, CA 92260
(Address)
( 1 ) CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was personally received by Buyer or Buyer's authorized
(Initiais) agent on(date) at ❑AM ❑ PM.A binding Agreement is created when
a Copy of Signed Acceptance is personally received by Buyer or Buyer's authorized agent whether or not contirmed in
this document.Completion of this confirmation is not legaliy requfred in order to create a binding Agreement;it is solely
intended to evidence the date that Confirmation of Acce tance has occurred.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seller.
B. Agency relationships are confirmed as stated in paragraph 2.
C. If specified in paragraph 3A,Agent who submitted the offer for Buyer acknowledges receipt of deposit.
D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker(Selling Firm)and Cooperating Broker agrees to
accept,out of Listing Broker's proceeds in escrow:(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 reciprocal MLS;or(ii)� (if checked)the amount specified in a separate written agreement(C.A.R. Form
CBC)between Listing Broker and Cooperating Broker.Declaration of License and Tax(C.A.R.Form DLT)may be used to document that tax reporting
will be required or that an exemption exists.
Real Estate Broker(Selling Firm} Century 22 Osborne Realtv BRE Lic.#01312235
By John Osbozne BRE Lic.#00852775 Date
Address City State Zip
Telephone Fax E-mail
Real Estate Broker(Listing Firm) Century 21 Osborne Realtv BRE Lic.#01322235
By .Tohn Osborne BRE Lic.#OOB52775 Date
Address 41 Orcruicii.a Ct City Pa1m Desert State Ca Zip 92260
Telephone (760)567-2407 Fax (760192Z-9387 E-mail john.osborne@ceaturv2l.com
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement,(if checked,�a deposit in the amount of$ ),
counter offer number ❑Seller's Statement of Information and Addendtan �`1
,and agrees to act as Escrow Hoider subject to paragraph 24 of this Agreement,any
supplemental escrow instructions and the terms of Escrow Holder's general provisions.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is
Escrow Holder Foresi te Escroir Escrow#
By Esther Lopez Date
Address
Phone/Fax/E-mail
Escrow Holder is licensed by the California Department of�Corporations,❑ Insurance,❑ Real Estate. License#
PRESENTATION OF OFFER:( )Listing Broker presented this offer to Seller on (date).
Broker or Designee Initials
REJECTION OF OFFER:( )� )No counter offer is being made.This offer was rejected by Seller on (date).
Seller's Initials
m 2013,California Assxiation of REALTOflS�,Inc.UniteA States copyright law(Title 17 U.S.Code)forbids the unauthorized distribution,display arxl reproduction of this form,or any portion thereot,by
photocopy machine or any other means,including facsimlle or computerized tormats.
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS�(C.A.R.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALiDITY OR ACCURACY OF ANY
PHOVISION IN ANY SPECIFIC TRANSACTION.A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REA�ESTATE TRANSACTIONS.IF YOU DESIRE LEGAL OR TAX ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL.
� Published and Distributed by:
„ REAL ESTATE BUSINESS SERVICES,INC. Reviewed by �
` � a subsidrary of the CALIFORNIA ASSOCIATION OF REALTORSO
"525 South Vif il Avenue,LOS M EIEs,California 90020 Broker or Designee Date EWRLHOIISMIG
g 9 OPPORTUlNTY
REVISION DATE 4/13
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 8 OF 8) Falcon Crest
�' CALIFORNIA
� ASSOCIATION BUYER'S INSPECTION ADVISORY
�.� OF REALTORS'�' (C.A.R.Form BIA-A,Revised 10/02)
Property Address: q219�verdinLane74642 Ki.ng FisherCir, Palm Desert, Ca 92260 ("Property").
A. IMPORTANCE OF PROPERTY INVESTIGATION: The physical condition of the land and improvements being purchased is not
guaranteed by either Seller or Brokers. For this reason, you should conduct thorough investigations of the Property personatly and with
professionals who should provide written reports of their investigations.A general physical inspection typically does not cover all aspects
of the Properry nor items affecting the Property that are not physically located on the Property. If the professionals recommend further
investigations, including a recommendation by a pest control operator to inspect inaccessible areas of the Property, you should contact
qualified experts to conduct such additional investigations.
B. BUYER RIGHTS AND DUTIES: You have an affirmative duty to exercise reasonable care to protect yourself, including discovery of
the legal, practical and technical implications of disclosed facts, and the investigation and verification of information and facts that you
know or that are within your diligent attention and observation.The purchase agreement gives you the right to investigate the Property. If
you exercise this right, and you should,you must do so in accordance with the terms of that agreement. This is the best way for you to
protect yourself. It is extremely important for you to read all written reports provided by professionals and to discuss the results of
inspections with the professional who conducted the inspection. You have the right to request that Seller make repairs, corrections or
take other action based upon items discovered in your investigations or disclosed by Seller. If Seller is unwilling or unable to satisfy your
requests, or you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the
agreement if you act within specific time periods. if you do not cancei the agreement in a timely and proper manner, you may be in
breach of contract.
C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you material facts known to him/her that affect the value or
desirability of the Property. However,Seller may not be aware of some Property defects or conditions.Seller does not have an obligation
to inspect the Property for your benefit nor is Seller obligated to repair,correct or othervvise cure known defects that are disclosed to you
or previously unknown defects that are discovered by you or your inspectors during escrow.The purchase agreement obligates Seller to
make the Property available to you for investigations.
D. BROKER OBLIGATIONS: Brokers do not have expertise in all areas and therefore cannot advise you on many items, such as soil
stability,geologic or environmental conditions, hazardous or illegal controlled substances,structural conditions of the foundation or other
improvements, or the condition of the roof, plumbing, heating,air conditioning,electrical,sewer, septic,waste disposal, or other system.
The only way to accurately determine the condition of the Property is through an inspection by an appropriate professional selected by
you. If Broker gives you referrals to such professionals, Broker does not guarantee their performance. You may select any professional
of your choosing. In sales involving residential dwellings with no more than four units, Brokers have a duty to make a diligent visual
inspection of the accessible areas of the Property and to disclose the results of that inspection. However, as some Property defects or
conditions may not be discoverable from a visual inspection, it is possible Brokers are not aware of them. If you have entered into a
written agreement with a Broker, the specific terms of that agreement will determine the nature and extent of that Broker's duty to you.
YOU ARE STRONGLY ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF ALL ASPECTS OF THE PROPERTY.IF
YOU DO NOT DO SO,YOU ARE ACTING AGAINST THE ADVICE OF BROKERS.
E.YOU ARE ADVISED TO CONDUCT INVESTIGATIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE
FOLLOWING:
1. GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS: Foundation, roof, plumbing, heating, air
conditioning, electrical, mechanical, security, pool/spa, other structural and non-structural systems and components, fixtures,
built-in appliances,any personal property included in the sale,and energy efficiency of the Property.(Structural engineers are best
suited to determine possible design or construction defects,and whether improvements are structurally sound.)
2. SQUARE FOOTAGE,AGE, BOUNDARIES:Square footage, room dimensions,lot size,age of improvements and boundaries.Any
numerical statements regarding these items are APPROXIMATIONS ONLY and have not been verified by Seller and cannot be
verified by Brokers. Fences, hedges,walls, retaining walis and other natural or constructed barriers or markers do not necessarily
identify true Property boundaries. (Professionals such as appraisers, architects, surveyors and civil engineers are best suited to
determine square footage,dimensions and boundaries of the Property.)
3. WOOD DESTROYING PESTS: Presence of, or conditions likely to lead to the presence of wood destroying pests and organisms
and other infestation or infection. Inspection reports covering these items can be separated into two sections: Section 1 identifies
areas where infestation or infection is evident. Section 2 identifies areas where there are conditions likely to lead to infestation or
infection.A registered structural pest control company is best suited to perform these inspections.
4. SOIL STABILITY: Existence of fill or compacted soil,expansive or contracting soil,susceptibility to slippage,settling or movement,
and the adequacy of drainage.(Geotechnical engineers are best suited to determine such conditions,causes and remedies.)
The copyright laws of the United States (Title 17 U.S. Code) forbid the
unauthorized reproduction of this form,or any portion thereof,by photocopy Buyer's Initials(�)( ) �
machine or any other means,including facsimile or computerized formats. Seiler's Initials(�)(�_)
Copyright OO 1991-2004, CALIFORNIA ASSOCIATION OF REALTORS�, �
INC.ALL RIGHTS RESERVED. Reviewed by Date EOUALHWSINC
OPPOflTUNITY
BIA-A REVISED 10102(PAGE 1 OF 2)
BUYER'S INSPECTION ADVISORY BIA-A PAGE 1 OF 2
Agent: John Osborne Phone:l760)921-2121 Fax:(760)922-4387 Prepared using zipForrr�software
Broker:CENTURY 21 Osborne Real ,41 Or uidia Ct Palm Desert,CA 92260
PfOPBrty AddfeSS: 42I97Yes�»+r��e7q642 Xing FisherCis� Palm Dasert, Ca 92260 Date:Agquat 11, 2014
5. ROOF: Present condition, age, leaks, and remaining useful life. (Roofing contractors are best suited to determine these conditions.)
6. POOUSPA:Cracks,leaks or operational problems.(Pool contractors are best suited to determine these conditions.)
7. WASTE DISPOSAL: Type, size, adequacy, capacity and condition of sewer and septic systems and components, connection to
sewer,and applicable fees.
8. WATER AND UTILITES; WELL SYSTEMS AND COMPONENTS: Water and utility availability, use restrictions and costs. Water
quality,adequacy,condition,and performance of well systems and components.
9. ENVIRONMENTAL HAZARDS: Potential environmental hazards, including, but not limited to, asbestos, lead-based paint and other
lead contamination, radon, methane, other gases, fuel oil or chemical storage tanks, contaminated soil or water, hazardous waste,
waste disposal sites, electromagnetic fields, nuclear sources, and other substances, materials, products, or conditions (including
mold (airborne, toxic or otherwise), fungus or similar contaminants). (For more information on these items, you may consult an
appropriate professional or read the booklets"Environmental Hazards: A Guide for Homeowners, Buyers, Landlords and Tenants,"
"Protect Your Family From Lead in Your Home"or both.)
10.EARTHQUAKES AND FLOODING: Susceptibility of the Property to earthquakelseismic hazards and propensity of the Property to
flood.{A Geologist or Geotechnical Engineer is best suited to provide infarmation on these conditions.)
11.FIRE, HAZARD AND OTHER INSURANCE: The availability and cost of necessary or desired insurance may vary. The location of
the Property in a seismic, flood or fire hazard zone, and other conditions, such as the age of the Property and the claims history of
the Property and Buyer, may affect the availability and need for certain types of insurance. Buyer should explore insurance options
early as this information may affect other decisions, including the removal of loan and inspection contingencies. (An insurance agent
is best suited to provide information on these conditions.)
12.BUILDING PERMITS, ZONING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certilicates, zoning, other
governmental limitations, restrictions, and requirements affecting the current or future use of the Property, its development or size.
(Such information is available from appropriate governmentai agencies and private information providers. Brokers are not qualified to
review or interpret any such information.)
13.RENTAL PROPERTY RESTRICTIONS: Some cities and counties impose restrictions 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. Deadbolt or other locks and security
systems for doors and windows, including window bars, should be examined to determine whether they satisfy legal requirements.
(Government agencies can provide information about these restrictions and other requirements.)
14.SECURITY AND SAFETY: State and local Law may require the installation of barriers, access alarms, self-latching mechanisms
and/or other measures to decrease the risk to children and other persons of existing swimming pools and hot tubs,as well as various
fire safety and other measures concerning other features of the Property.Compliance requirements differ from city to city and county
to county. Unless specifically agreed, the Property may not be in compliance with these requirements. (Local government agencies
can provide information about these restrictions and other requirements.)
15.NEIGHBORHOOD, AREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS: Neighborhood or area conditions, including
schools, proximity and adequacy of law enforcement, crime statistics,the proximity of registered felons or offenders, fire protection,
other government services, availability, adequacy and cost of any speed-wired, wireless internet connections or other
telecommunications or other technology services and installations, proximity to commercial, industrial or agricultural activities,
existing and proposed transportation,construction and development that may affect noise,view,or traffic,airport noise,noise or odor
from any source, wild and domestic animals, other nuisances, hazards, or circumstances, protected species, wetland properties,
botanical diseases, historic or other governmentally protected sites or improvements,cemeteries,facilities and condition of common
areas of common interest subdivisions,and possible lack of compliance with any governing documents or Homeowners'Association
requirements, conditions and influences of significance to certain cultures and/or religions, and personal needs, requirements and
preferences of Buyer.
Buyer and Seller acknowledge and agree that Broker: (i) Does not decide what price Buyer should pay or Seller should accept; (ii) Does not
guarantee the condition of the Property;(fff)Does not guarantee the performance,adequacy or completeness of inspections,services,products or
repairs provided or made by Seller or others;(iv)Does not have an obligation to conduct an inspection of common areas or areas off the site of the
Property;(v)Shall not be responsible for identifying defects on the Property,in common areas,or offsite unless such defects are visuaily observable
by an inspection of reasonably accessible areas of the Property or are known to Broker;(vi)Shall not be responsible for inspecting public records or
permits concerning the title or use of Property;(vii)Shall�ot be responsible for identifying the location of boundary lines or other items affecting title;
(viii)Shall not be responsible for verifying square footage,representations ot others or information contained in Investigation reports,Muitiple Listing
Service,advertisements,flyers or other promotional material;(ix)Shall not be responsible for providing legal or tax advice regarding any aspect of a
transaction entered into by Buyer or Seller;and(x)Shall not be responsible for providing other advice or information that exceeds the knowledge,
education and experience required to perform real estate licensed activity. Buyer and Seller agree to seek legal, tax, insurance, title and other
desired assistance from appropriate professionals.
By signing below, Buyer and Seller each acknowledge that they have read, understand, accept and have received a Copy of
this Advisory.Buyer is encouraged to read it carefully.
Buyer Signature Date Buyer Signature Date
A Qualified buyer of 2ower or moderate income
X X
Seller Signature Date Seller Signature Date
Palm Desert Housing Authority
TNIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS�(C.A.R.).NO REPRESENTATION IS MADE AS TO THE�EGAI.VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS.IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
This form is available for use by the entire real estate industry.It is not intended to identify the user as a REALTOR�.REALTOR�is a registered collective membership mark
which may be used only by members of the NATIONAL ASSOCIATION OF REALTORS�who subscribe to its Code of Ethics.
� Published and Distribu[ed by:
�
N REAL ESTATE BUSINESS SERVICES,INC.
a subsidiary of the Cali�omia Assaratio�ol REAL70R� Reviewed by Date ewni xousx�c
` �525 Soufh Virgil Avenue,Los Angeles,Califomia 90020 OPPORTUNITY
BIA-A REVISED 10l02(PAGE 2 OF 2) Falcon Crest
BUYER'S INSPECTION ADVISORY(BIA-A PAGE 2 OF 2)
c A L i r�o R N ► A ADDENDUM
� Assoc�A�rroN
��'r O F [t E A L T O R S x' (C.A.R.Form ADM, Revised 4/12) NO. 1
The following terms and conditions are hereby incorporated in and made a part ot the: � Residential Purchase Agreement,
❑ Manufactured Home Purchase Agreement, ❑ Business Purchase Agreement, ❑ Residential Lease or Month-to-Month Rental
Agreement, ❑ Vacant Land Purchase Agreement, ❑ Residential Income Property Purchase Agreement, ❑ Commercial Property
Purchase Agreement,p Other
dated August Z1, 2014 ,on property known as 42197VerdirsLane74642 King FisherCir
Palm Desert Ca 92260
in which A Quslified buyer of iorver, or moderate ineome is referred to as("Buyerl�enanY')
and Palm nesert xousing Authority is referred to as("Seller/Landlord"j.
The sale of this home is subiect to a public hearing.
This Propertp Will Have A Restrictive AQreement That Buysr Must Execute And Wi11 Be
Recorded Against Sublect Property In Favor Of The Pa1m D�esert Housing Authority (Housing
Authority) With Restrictioas Including But Not Li.mited To Affordability, Psimary Resideace
Rec�sirements. Resale Price Restrictions Aad A Right Of First Refusal To The Palm Desert
Housiac,Z Authority, Among Other Restrictions. Buyer certifies that the statements coatained
.�n the q�estionnaire and supporting documents psovided by Buyer as part of a reguest for
assistance from the City of Pa1m Desert aad the Palm Desert Honsiag Authority, are true and
complete, and have been used to determine Bayer as a qualified Bu�rer for the purpose of
purchasing this property Buyer WiII Sign The Buyer's Worksheet And Lo�r-income Household
Affidavit.
The City Of Palm Desert and Palm Desert Housinc,�Authority May Provide Doxn Paymeat
Assistance To Ensure An Affordable Housing Cost, Such Loan May Be Silent For AZ1 Or Part Of
The Term Of The Loaa The Amouat Of The Assistaace Will Vary But Wi11 Be In An Amount To
Ensure An Afforda.ble Housiag Cost As Defined Under California Health And Safety Codes Aad
Contingent Oa The Primary Loaa Approval.
As Se12es Is A Government Entity And Not Subject To Resl Propertp Taxes, No Proration Wi11
B� Made Through Escroir For This Purpose. Buyer Zs Responsible From The Date Of Escrox
ClosiaQ, For Rea2 Property Taxes Due And Wi11 Receive A Property Tax Bill Direct From The
Tax Collector's Office
Buve�ees To Transfer AI1 UtiZities Includino NaturaZ Gas, Water, And Electric
Immedi.atel,� Uvon Close Of Escro�r
Notices Shall Be Address As Provided Herein For The Respective Parties. Provided That Zf
Ar}y Party Givas Notice In Writing Of A Chaa�e Of Name Or Address. Notices To Such Partp
Sha11 Thereafter Be Given As Demanded In The Notice
Se21er: 73510 Fred Waring Drive, Palm Desert, Ca 92260
Bvver ,•TBD„
The foregoing terms and conditions are hereby agreed to,and the undersigned acknowledge receipt of a copy of this document.
Date Date
Buyer/Tenant X Seller/Landlord X
A Qualified buyer of loxer Pa.Im Desert Housing Authority
Buyer/Tenant Seller/Landlord X
or moderate income
The copyright laws of ihe United States(Title 17 U.S.Code)forbid the unauthorized reproduction of this form,or any portion thereof,by photocopy machine or any other means,
including facsimile or computerized formats.CopyrightC�1986-2012,CALIFORNIA ASSOCIATION OF REALTORS'�,INC.ALL RIGHTS RESERVED.
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS�(C.A.R.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALIOITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS.IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
This form is available for use by the entire real estate industry.it is not intended to identify the user as a REALTOR�.REALTOR�is a registered coliective membership mark
which may be used only by members of the NATIONAL ASSOCIATION OF REALTORS�who subscribe to its Code of Ethics.
� Published and Distnbuted by:
M REAL ESTATE BUSINESS SERVICES,INC.
a subsidiary of the Cali�omia Assoaation of REALTORSC�
` �.525 Soum Virgil Avenue,Los Angeles,California 90020 �
ADM REVISED 4/12(PAGE 1 OF 1) Reviewed by Date EWRIHWSIN6
ADDENDUM(ADM PAGE 1 OF 1) OPPOPTUNITY
Agent: John Osborne Phone:(760)921-2121 Fax:(760)922-4387 Prepared using zipForrt�software
Broker:CENTURY 21 Osborne Real ,41 Or uidia Ct Paim Desert,CA 92260