HomeMy WebLinkAboutRes 2013-11 and HA-49 - APN 624-441-007 CITY OF PALM DESERT /PALM DESERT HOUSING AUTHORITY
JOINT CONSIDERATION
STAFF REPORT
REQUEST: REQUEST FOR APPROVAL OF THE PROPOSED SALE OF THE
PROPERTY LOCATED AT 74537 KING FISHER CIRCLE (APN 624-
441-007), PALM DESERT (PURSUANT TO HEALTH AND SAFETY
CODE SECTION 33433(c)).
SUBMITTED BY: Janet Moore, Director of Housing
DATE: February 14, 2013
CONTENTS: City Resolution No. 2013- 11
Housing Authority Resolution No. HA-49
Draft Purchase and Sale Agreement
Recommendation
That the City Council,
1. Waive further reading and adopt Resolution No. 2013- 11 confirming that
the authorization or the former Palm Desert Redevelopment Agency (the
"Agency") to sell small housing projects pursuant to Health and Safety Code
Section 33433(c) transferred to the Palm Desert Housing Authority as the
successor to the former Palm Desert Redevelopment Agency's housing
functions and assets.
That the City Council and Authority Board,
2. Conduct a public hearing and accept testimony on the proposed sale of the
property located at 74537 King Fisher Circle, (APN 624-441-007), to a
qualified household of low or moderate income; and
3. Following public testimony, close the public hearing, and request that the
Authority Board waive further reading and adopt Resolution No. HA-49
approving the sale of the property pursuant to the attached draft Purchase
and Sale Agreement.
By Minute Motion, that the City Council and Authority Board,
4. Approve silent homebuyer assistance loans in amounts that do not exceed
$80,000 in total to ensure an affordable housing cost from any available
funding source restricted for such purpose (BEGIN, Housing Mitigation,
Agency/Housing Authority program income); and
5. Authorize the payment of the transaction costs from the sale proceeds for the
purpose of repairs required for closing, fees customary to real estate
transactions in Riverside County including escrow, title, FHA fees,
inspections, vermin eradication, commissions and disclosures; and
Staff Report
Public Hearing 74537 King Fisher Circle (APN 624-441-007)
February 14, 2013
Page 2 of 2
6. Authorize the use of the Falcon Crest sales program and documents
including the restrictive covenant and loan documents for the applicable
funding source, in their substantial form, understanding that references will be
changed as necessary to the Authority; and
7. Authorize the Authority's Executive Director or his designee to finalize and
execute the Purchase and Sales Agreement and any ancillary documents
necessary to effectuate the sale and actions taken herewith.
Background
On November 6, 2006, the City of Palm Desert ("City") and the former Palm Desert
Redevelopment Agency ("Agency") approved the initial sale of ninety-three (93) three and
four bedroom single-family homes located in the Falcon Crest Development ("Falcon Crest")
to households of low and moderate income.
When an owner decides to sell, staff attempts to coordinate a direct sale from the owner to
a new purchaser from a waitlist, however, during 2010 and 2011 there were no eligible
households on the waitlist for Falcon Crest. Because of this, the Agency purchased most of
the houses that became available for sale in order to preserve the affordability covenant
and the Agency's additional investments in the home.
With the Governor's enactment of ABX1 26 and AB 1484 redevelopment agencies were
effectively eliminated on February 1, 2012. The legislation prohibited agencies from entering
into any new agreements, contracts, debts, loans, etc. which included the Agency's ability to
purchase any additional properties or to sell any of the homes that were acquired.
On February 9, 2012, the City adopted Resolution No. 2012-07 designating the Palm Desert
Housing Authority ("Housing Authority") as the successor housing entity for all housing
activities formerly completed by both the Agency and Housing Authority. On October 11,
2012, the Housing Authority Board accepted the housing functions and assets transferred
pursuant to Resolution No. HA-47.
The Housing Authority is proposing to sell a single-family residence located at 74537 King
Fisher Circle in the Falcon Crest Development (the "Property") to a qualified low or
moderate income household.
Health and Safety Code Section 33433(c) provides that the requirements of subdivisions (a)
and (b) will not apply to the sale of a small housing project if the City Council adopts a
resolution that authorizes the sale of small housing projects pursuant to Section 33433(c).
Pursuant to its Resolution No. 03-34, adopted on April 10, 2003, the City Council authorized
the Agency to sell small housing projects pursuant to Section 33433(c).
The property meets the definition of a small housing project in that the Housing Authority
will only sell the property to qualified households (including persons or families) of low or
moderate incomes.
Section 33433(c) requires that a public hearing be held on the proposed sale pursuant to
G1HOUSING\Patty LeonWMM\staff report\HOUSING AUTHORITYIHA-City 33433(c)Public Hearing 74537 King Fisher Cir 2-14-13.doc
Staff Report
Public Hearing 74537 King Fisher Circle (APN 624-441-007)
February 14, 2013
Page 3 of 2
Health and Safety Code Section 33431. Pursuant to Section 33431, notice of a public
hearing on the proposed sale of the property was published once a week for two successive
weeks in the Desert Sun.
When a qualified buyer is identified, the draft Purchase and Sale Agreement ("Agreement")
will be modified based on the terms of the sale agreed upon.
In addition, and in order to ensure an affordable housing cost, the Housing Authority and
City will need to provide deferred down-payment assistance loans. The loan terms will be
consistent with the City's BEGIN Loan Program and the Falcon Crest Sales Program. The
actual amount and funding source of the Housing Authority and/or City assistance loans will
vary for each transaction and will depend on the qualifying income and buyer criteria. The
combined loans will not exceed $80,000 which is the same amount of the original sales
program.
Staff recommends that (i) the City Council confirm that the authorization for the former
agency to sell small housing projects pursuant to Health and Safety Code Section 33433(c)
transferred to the Housing Authority as successor to the former Agency's housing functions
and assets, and (ii) the City Council and the Housing Authority Board, jointly hold a public
hearing on the proposed sale of the property and approve the sale of the property to
qualified household pursuant to the terms of the Purchase and Sale Agreement presented
to the Housing Authority at this meeting and approve silent homebuyer assistance loans not
to exceed $80,000 to ensure an affordable housing cost from any available funding source
restricted for such purpose.
Fiscal Analysis
The fiscal impact will be the cost differential from the former Agency's cost of each of the
properties to the newly negotiated sales price, the costs of the transaction, and the amount
of the assistance loans from the various sources. Each sale wi reduce the monthly costs
associated with maintaining the inventory.
S itted by: Finance/D artment:
M. Moore, Director of Housing Paul Gi on, Director of Finance
Ap ov . COUNCIL ION
APPROVED DENTED
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K�<S �C6. �lX�l� �xl H-�1�
MEET MATE DATE -/ - a°/.
J n . Wohlmuth, City Manager/Executive Director AYES: lS ,1 J 'Ie , QJ�?l�.�'Born i K
NOES: AI
ABSENT:
ABSTAIN:
VERIFIED BY: /tT V
Original on File with City Clerk's Office
G:1HOUSINGIPatty LeonIJMMlstaff report'HOUSING AUTHORITYIHA-City 33433(c)Public Hearing 74537 King Fisher Cir 2-14-13.doc
RESOLUTION NO. 2013- 11
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PALM
DESERT AUTHORIZING THE PALM DESERT HOUSING AUTHORITY
TO SELL OR LEASE SMALL HOUSING PROJECTS PURSUANT TO
HEALTH AND SAFETY CODE SECTION 33433(c)
RECITALS:
A. By its Resolution No. 03-34, the City Council authorized the former Palm
Desert Redevelopment Agency (the "Agency") to sell small housing projects, as that
term is defined in Health and Safety Code Section 33013, pursuant to Health and Safety
Code Section 33433(c).
B. Pursuant to Health and Safety Code Section 34175(b) and the California
Supreme Court's decision in California Redevelopment Association, et al. v. Ana
Matosantos, et al. (53 Cal.4th 231(2011)), on February 1, 2012, all assets, properties,
contracts, leases, books and records, buildings, and equipment of the Agency
transferred to the control of the Successor Agency to the Palm Desert Redevelopment
Agency (the "Successor Agency") by operation of law.
C. Pursuant to Health and Safety Code Section 34176(b), the City Council of
the City of Palm Desert (the "City") adopted Resolution No. 2007-07 electing for the City
not to retain the housing functions previously performed by the former Agency, and
determining that all of the assets, as allowed by law, and all rights, powers, liabilities,
duties, and obligations associated with the housing activities of the former Agency be
transferred from the Successor Agency to the Palm Desert Housing Authority (the
"Housing Authority").
D. By its Resolution No. HA-47, the Housing Authority accepted the housing
functions and assets of the former Agency.
E. The City Council desires to confirm that the authorization for the former
Agency to sell small housing projects pursuant to Health and Safety Code Section
33433(c) transferred to the Housing Authority as the successor to the former Agency's
housing functions and assets.
THE CITY COUNCIL OF THE CITY OF PALM DESERT HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. From time to time, the Housing Authority may desire to sell or lease
a small housing project.
Section 2. The City Council hereby confirms that the authorization for the former
Agency to sell small housing projects pursuant to Health and Safety Code Section
33433(c) transferred to the Housing Authority as the successor to the former Agency's
housing functions and assets and that the City Council authorizes the Housing Authority
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12812-0001\1528503v1.doc GIHOUSINGPatty Leon JMMtstatl report\RESOLUTIONS\City Council resoIu on on small housing projects 2-14-13.doc
RESOLUTION NO. 2013- 11
to sell or lease small housing projects pursuant to Health and Safety Code Section
33433(c) if, prior to such sale or lease, the Housing Authority holds a public hearing
pursuant to Health and Safety Code Section 33431. The City Council hereby finds and
declares that subdivisions (a) and (b) of Health and Safety Code Section 33433 shall
not apply to such sales or leases of small housing projects.
Section 3. In the event the Housing Authority sells or leases a small housing
project pursuant to Health and Safety Code Section 33433(c), the Housing Authority is
hereby directed, within 30 days after the end of the Housing Authority's fiscal year in
which the sale or lease occurs, to file a report with the City Council which discloses the
name of the buyer or lessee, the legal description or street address of the property, the
date of the sale or lease, the consideration for which the property was sold or leased by
the Housing Authority to the buyer or lessee and the date on which the Housing
Authority held its public hearing for the sale or lease pursuant to Health and Safety
Code Section 33431.
PASSED, APPROVED AND ADOPTED this 14TH day of FEBRUARY 2013 by
the following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAN C. HARNIK, CHAIRMAN
ATTEST:
RACHELLE D. KLASSEN, CITY CLERK
CITY OF PALM DESERT CALIFORNIA
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12812-0001\1528503v1.doc G:WOUSINGPPatty LeonUMM\staft reporl\RESOLUTIONS\City Council resolulion on small housing projects 2-14-13.doc
RESOLUTION NO. HA - 49
A RESOLUTION OF THE PALM DESERT HOUSING AUTHORITY
APPROVING A RESIDENTIAL PURCHASE AND SALE AGREEMENT
PURSUANT TO HEALTH AND SAFETY CODE SECTION 33433(c)
THE PALM DESERT HOUSING AUTHORITY HEREBY FINDS,
DETERMINES, RESOLVES AND ORDERS AS FOLLOWS:
Section 1. On April 13, 2006 the City of Palm Desert ("City") and the former Palm
Desert Redevelopment Agency("Agency") approved the Falcon Crest Sales Program and
jointly held a public hearing on November 6, 2006, approving the initial sale of the 93
single-family homes located in the Falcon Crest Development("Falcon Crest") in the City of
Palm Desert to qualifying households of low or moderate income pursuant to Resolution
No. 535 and 06-145.
Section 2. Pursuant to Health and Safety Code Section 34175(b), on February 1,
2012, all assets, properties, contracts, leases, books and records, buildings, and
equipment of the Agency transferred to the control of the Successor Agency to the Palm
Desert Redevelopment Agency (the "Successor Agency") by operation of law including
housing assets.
Section 3. Pursuant to Health and Safety Code Section 34176(b), on February 9,
2012, the City adopted Resolution No. 2012-07 designating the Palm Desert Housing
Authority(the"Housing Authority") as the successor housing entity for all housing activities
formerly completed by both the Agency and the Housing Authority.
Section 4. On October 11, 2012, the Housing Authority Board accepted the housing
functions and assets transferred pursuant to Resolution No. HA-47.
Section 5. The Housing Authority owns a residential structure located at 74537 King
Fisher Circle in the City of Palm Desert, California (the "Property"). The Housing Authority
proposes to sell the Property to a qualifying person or household of low or moderate
income pursuant to the draft purchase and sale agreement(the"Agreement") presented to
the Housing Authority at this meeting and now on file in the offices of the Housing Authority
Secretary and City Clerk of the City of Palm Desert.
Section 6. Resolution No. 03-34 of the City Council authorized the Agency to sell or
lease a "small housing project" as that term is defined in Health and Safety Code Section
33013, pursuant to Health and Safety Code Section 33433(c)and as referenced in Section
3 herein, the Housing Authority is the successor housing entity for all housing activities
formerly completed by the Agency.
Section 7. By its Resolution No. 2013- 11 , the City Council confirmed that the
authorization for the former Agency to sell small housing projects pursuant to Health and
Safety Code Section 33433(c)transferred to the Housing Authority as the successor to the
former Agency's housing functions and assets.
-1-
RESOLUTION NO. HA - 49
Section 8. Following notice duly given, the Housing Authority has held a full and fair
public hearing on the sale by the Housing Authority of the Property pursuant to Health and
Safety Code Section 33431. The Housing Authority has made available to the public
through the office of the City Clerk a copy of the Agreement prior to the public hearing.
Section 9. The Housing Authority hereby finds and determines that the Property
qualify as a "small housing project" as that term is defined in Health and Safety Code
33013.
Section 10. The Housing Authority hereby approves the Agreement and the
Housing Authority Executive Director ("Executive Director") is hereby authorized and
directed, for and in the name and on behalf of the Housing Authority, to finalize, execute
and deliver the Agreement in substantially the form on file with the Housing Authority
Secretary and the City Clerk and presented at this meeting, with such additions thereto or
changes or insertions therein as may be approved by the Executive Director(such approval
to be conclusively evidenced by such execution and delivery).
Section 11. The officers of the Housing Authority are hereby authorized and
directed,jointly and severally, to execute and deliver any and all necessary documents and
instruments and to do all things which they may deem necessary or proper in order to
effectuate the purposes of this Resolution and the transaction contemplated hereby; and
any such actions previously taken by such officers are hereby ratified, confirmed and
approved.
PASSED,APPROVED AND ADOPTED this 14TH day of FEBRUARY 2013 by the
following vote, to wit:
AYES:
NOES:
ABSENT:
ABSTAIN:
JAN C.HARNIK, CHAIRMAN
ATTEST:
RACHELLE D. KLASSEN, SECRETARY
PALM DESERT HOUSING AUTHORITY
-2-
CALIFORNIA
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT
41:44 ASSOCIATION AND JOINT ESCROW INSTRUCTIONS
114110, OF R E A L T O R S/' For Use With Single Family Residential Property—Attached or Detached
(C.A.R.Form RPA-CA,Revised 4110)
Date February 14,2013
1. OFFER:
A. THIS IS AN OFFER FROM A qualified buyer of low or moderate income
("Buyer").
B. THE REAL PROPERTY TO BE ACQUIRED is described as 74537 Kina Fisher Cir. Palm Desert. CA 92260
,Assessor's Parcel No. 624441007 ,situated in
Palm Desert ,County of Riverside ,California,("Property").
C. THE PURCHASE PRICE offered is Two Hundred Twenty-Five Thousand
(Dollars$225.000.00 ).
D. CLOSE OF ESCROW shall occur on 60 days or sooner (date)(or 0 Days After Acceptance).
2. AGENCY:
A. DISCLOSURE: Buyer and Seller each acknowledge prior receipt of a "Disclosure Regarding Real Estate Agency Relationships"
(C.A.R.Form AD).
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt of a disclosure of the possibility of
multiple representation by the Broker representing that principal. This disclosure may be part of a 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 sellers with competing properties of iisntte[r8est to this Buyer.�r.
C. CONFIRMATION:The following agenc arelmatiocships re here g�Uned for this transaction:
Listing Agent (Print Firm Name)is the agent
of(check one): 0 the Seller exclusively;or 0 both the Buyer and Seller.
Selling Agent (Print Firm Name)(if not the same as the
Listing Agent)is the agent of(check one): 0 the Buyer exclusively;or 0 the Seller exclusively;or 0 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 $ TBD
(1) Buyer shall deliver deposit directly to Escrow Holder by personal check, 0 electronic funds transfer,0 Other
within 3 business days after acceptance(or 0 Other );
OR(2)(If checked)0 Buyer has given the deposit by personal check(or 0 )
to the agent submitting the offer(or to 0 ),
made payable to .The deposit shall be held
uncashed until Acceptance and then deposited with Escrow Holder(or 0 into Broker's trust account) within 3
business days after Acceptance(or 0 Other ).
B. INCREASED DEPOSIT:Buyer shall deposit with Escrow Holder an increased deposit in the amount of $
within Days After Acceptance,or 0
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 deposited.
C. LOAN(S):
(1) FIRST LOAN:in the amount of $ TBD
This loan will be conventional financing or, if checked, ® FHA,0 VA, 0 Seller (C.A.R. Form SFA),
0 assumed financing(C.A.R.Form PM), 0 Other .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.
(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 PM), ®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) FHANA:For any FHA or VA loan specified above,Buyer has 17(or 0 )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 repair. Seller has no obligation to pay for repairs or satisfy lender requirements
unless otherwise agreed in writing.
D. ADDITIONAL FINANCING TERMS: Palm Desert Housing Authority and City of Palm Desert may
down payment assistance,provided buyer qualifies.
E. BALANCE OF PURCHASE PRICE OR DOWN PAYMENT:in the amount of $ TBD
to be deposited with Escrow Holder within sufficient time to close escrow,
F. PURCHASE PRICE(TOTAL): $ 225.000.00
Buyer's Initials( )( ) Seller's Initials( )( )
The copyright laws of the Untied States(Title 17 U.S.Code)forbid the unauthorized iuyiuriuction of this form,or
any portion thereof,by photocopy machine or any other means,including facsimile or computerized formats. HOUSING
Copyright 01991-2010,CALIFORNIA ASSOCIATION OF REALTORS®,INC.ALL RIGHTS RESERVED.
RPA-CA REVISED 4/10(PAGE 1 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 1 OF 8)
Agent: Phone: Fax:
Broker:
74537 King Fisher Cir February14, 2013
Property Address: Palm Desert, CA 92260 Date:
G. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer(or Buyer's lender or loan broker pursuant to 3H(1))shall,within 7(or
❑ ) Days After Acceptance, Deliver to 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(II) (if checked) 0 the loan contingency shall remain in effect until the designated loans are funded.
(4) 0 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 148(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 148(3),in writing remove the appraisal contingency or cancel this Agreement within 17(or
Days After Acceptance.
J. [i 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: Seller has relied 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 fm incing, 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 in writing,this paragraph only determines who is to pay for the inspection,test or
service("Report")mentioned;it does not determine who is to pay for any work recommended or identified in the Report.
A. INSPECTIONS AND REPORTS:
(1) ❑Buyer®Seller shall pay for an inspection and report for wood destroying pests and organisms ("Wood Pest Report") prepared by
Sellers Choice a registered structural pest control company.
(2) 0 Buyer 0 Seller shall pay to have septic or private sewage disposal systems pumped and inspected
(3) 0 Buyer 0 Seller shall pay to have domestic wells tested for water potability and productivi
(4) ❑Buyer®Seller shall pay for a natural hazard zone disclosure report prepared by First American or Similar
(5)®Buyer 0 Seller shall pay for the following inspection or report Home Inspection Report
(6) 0 Buyer 0 Seller shall pay for the following inspection or report
B. GOVERNMENT REQUIREMENTS AND RETROFIT:
(1) 0 Buyer IN 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) 0 Buyer®Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards, inspections and
reports if required as a condition of closing escrow under any Law.
C. ESCROW AND TITLE:
(1) on Buyer®Seller shall pay escrow fee each to pay 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 Titile
(Buyer shall pay for any title insurance policy insuring Buyer's lender,unless otherwise agreed in writing.)
D. OTHER COSTS:
(1) 0 Buyer®Seller shall pay County transfer tax or fee
(2) ❑Buyer❑Seller shall pay City transfer tax or fee
(3) 0 Buyer❑Seller shall pay Homeowner's Association("HOA")transfer fee
(4) 0 Buyer 0 Seller shall pay HOA document preparation fees Related Fees
(5) 0 Buyer 0 Seiler shall pay for any private transfer fee
(6) ❑Buyer❑Seller shall pay the cost,not to exceed$ 360.00 ,of a one-year home warranty plan,
issued by American Home Shield ,with the following optional coverages:
al Air Conditioner 0 Pool/Spa❑Code and Permit upgrade ®Other: Anoliances
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) 0 Buyer 0 Seller shall pay for
(8) 0 Buyer 0 Seller shall pay for
Buyer's Initials( _ )( ) Seller's Initials( )( )
CopyrightC 1991-2010,CACIFtII?NIA ASSOCIATION OF REALTORS®,INC.
RPA-CA REVISED 4/10(PAGE 2 OF 8) Reviewed by Date oEQUALr oalwrlr
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 2 OF 8)
74537 King Fisher Cir
Property Address: Palm Desert, CA 92260 Date: February 14,2013
8. CLOSING AND POSSESSION:
A. Buyer intends(or 0 does not intend)to occupy the Property as Buyer's primary residence.
B. Seller-occupied or vacant property:Possession shall be delivered to Buyer at 5 PM or(0 (3 AM 0 PM),on the date of Close
Of Escrow, ❑on ;or 0 no later than Days After Close Of Escrow.If transfer of title
and possession do not occur at the same time,Buyer and Seller are advised to:(I)enter into a written occupancy agreement(CAR.Form PAA,
paragraph 2);and(II)consult with their insurance and legal advisors.
C. Tenant-occupied property:
(I)Property shall be vacant at least 5(or 0 )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 be in breach of this
Agreement.
OR(II)(if checked)0 Tenant to remain in possession.(CAR.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(il)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 and/or means to operate all locks,mailboxes,security systems,
alarms and garage door openers. If Property is a condominium or located in a common interest subdivision, Buyer may be required to pay a
deposit to the Homeowners'Association("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 Deliver to Buyer,if required by Law:(I)Federal Lead-Based Paint Disclosures(C.AR.
Form FLD)and pamphlet("Lead Disclosures");and(11)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 military ordinance location(CAR.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 affecting the Property, or any material
inaccuracy in disclosures, information or representations previously provided to Buyer, Seller shall promptly provide a subsequent or
amended disclosure or notice,in writing,covering those items.However,a subsequent or amended disclosure shall not be required for
conditions and material inaccuracies of which Buyer is otherwise aware,or which are disclosed in reports provided to or obtained by
Buyer or ordered and paid for by Buyer.
(4) If any disclosure or notice specified in 8A(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 6 Days After Delivery by deposit in the mail,by
giving written notice of cancellation to Seller or Seller's agent
(6) Note to Buyer and 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 booklet;(11)even if exempt from the obligation to provide a NHD, disclose if
the Property is located in a Special Flood Hazard Area; Potential Flooring (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earthquake Fault Zone;Seismic Hazard Zone; and(ill)disclose any other zone as required by Law and provide any other
information required for those zones.
C. WITHHOLDING TAXES: Within the time specified in paragraph 14A, to avoid required withholding, Seller shall Deliver to Buyer or qualified
substitute,an affidavit sufficient to comply with federal(FIRPTA)and California withholding Law,(CAR.Form AS or QS).
D. MEGAN'S LAW DATABASE DISCLOSURE: Notice: Pursuant to Section 290.48 of the Penal Code,information about specified registered sex
offenders is made available to the public via an Internet Web site maintained by the 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.)
7. CONDOMINIUM/PLANNED DEVELOPMENT DISCLOSURES:
A SELLER HAS: 7(or 0 )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 0
Days After Acceptance to request from the HOA(CAR. Form HOA): (1)Copies of any documents required by Law;(II)disclosure of any pending
or anticipated claim or litigation by or against the HOA; (lii)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,"Cl Disclosures").Seller shall itemize and Deliver to Buyer all 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 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 88 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), 0 refrigerator(s);and
(3) The following additional items: Solar System
(4) Seller represents that all items included in the purchase price,unless otherwise specified,are owned by Seller.
(6) All items included shall be transferred free of liens and without Seller warranty.
C. ITEMS EXCLUDED FROM SALE:Unless otherwise specified,audio and video components(such as flat screen TVs and speakers)are excluded
if any such item is not itself attached to the Property,even if a bracket or other mechanism attached to the component is attached to the Property;
and
Buyer's Initials( )( ) Seller's Initials( )( ) A
Copyright C 1991-2010,CArIFtRNIA ASSOCIATION OF REALTORS®,INC.
RPA-CA REVISED 4/10(PAGE 3 OF 8) Reviewed by Date cewvuttx
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 3 OF 8)
74537 King Fisher Cir
Property Address: Paint Desert, CA 92260 Date: February 14,2013
0. CONDITION OF PROPERTY:Unless otherwise agreed:(Q the Property is sold(a)M its PRESENT physical("as-is")condition as of the date of
Acceptance and(b)subject to Buyer's investigation rights;(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(lii)all debris and personal property not included in the sale shall be removed by
Seller by Close Of Escrow.
A. Seller shall,within the time specified in paragraph 14A,DISCLOSE KNOWN MATERIAL FACTS 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. Buyer is strongly advised to conduct investigations of the entire Property In order to determine its present condition.Seller may not be
aware of all defects affecting the Property or other factors that Buyer considers Important. Property improvements may not be built
according to code,In compliance with current Law,or have had permits issued.
10.BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A. Buyer's acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified in this
paragraph and paragraph 14B.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; (ill) 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 building or zoning inspector or government employee,unless
required by Law.
B. Seller shall make the Property available for all Buyer Investigations. Buyer shall(I)as specified in paragraph 14B,complete Buyer Investigations
and,either remove the contingency or cancel this Agreement,and(ii)give Seller,at no cost,complete Copies of all Investigation reports obtained
by Buyer,which obligation shall survive the termination of this Agreement.
C. Seller 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 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(lii)indemnify and hold Seller harmless from all resulting liability,claims,demands,damages and costs of
Buyer's investigations. 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 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 Non-responsibility"(C.A.R. Form NNR) for Buyer Investigations and work done on the Property at
Buyers direction.Buyer's obligations under this paragraph shall survive the termination or cancellation of this Agreement and Close of Escrow.
11.SELLER DISCLOSURES;ADDENDA;ADVISORIES;OTHER TERMS:
A. Seller Disclosures(if checked):Seller shall,within the time specified in paragraph 14A,complete and provide Buyer with a:
13 Seller Property Questionnaire(C.A.R.Form SPQ) OR 0 Supplemental Contractual and Statutory Disclosure(C.A.R.Form SSD)
B. Addenda(If checked): DIAddendum#1 (C.A.R.Form ADM)
❑Wood Destroying Pest Inspection and Allocation of Cost Addendum(C.A.R.Form WPA)
❑Purchase Agreement Addendum(C.A.R Form PM) ❑Septic,Well and Property Monument Addendum(C.A.R.Form SWPI)
Short Sale Addendum(C.A.R.Form SSA) 0 Other
C. Advisories(if checked): 0 Buyer's Inspection Advisory(C.A.R.Form BIA)
❑Probate Advisory(CAR.Form PAK) 0 Statewide Buyer and Seller Advisory(C.A.R.Form SBSA)
0 Trust Advisory(CAR.Form TA) 0 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 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 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(II)those matters which Seller has agreed to remove in writing.
C. Within the time specified in paragraph 14A,Seller has a duty to disclose to Buyer all matters known to Seller affecting title,whether of record or
not.
D. At Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for stock cooperative or long-term lease, an assignment of stock
certificate or of Seller's leasehold interest), including oil, mineral and water rights if currently owned by Seller. 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, survey requirements,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.
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.
Buyer's Initials( )( ) Seller's Initials( )( ) O
CopynghtO 1991-2010,CALIFORNIA ASSOCIATION OF REALTORS®,INC.
RPA.CA REVISED 4f10(PAGE 4 OF 8) Reviewed by Date oMUM r"wxrr
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA'CA PAGE 4 OF 8)
74537 King Fisher Cir
Property Address: Palm Desert, CA 92260 Date: February 24,2013
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(CAR.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,&A,B and C,7A,9A,11A and B,and 12.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 other 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 14B(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) Within the time specified in 148(1) (or as otherwise specified in this Agreement), Buyer shall Deliver to Seller either(i) a removal of the
applicable contingency(CAR. Form CR),or(ii)a cancellation(CAR. Form CC)of this Agreement based upon a contingency or Seller's
failure to Deliver the specified items.However,if any report,disclosure or information for which Seller is responsible is not Delivered within the
time specified in 14A,then Buyer has 5(or CI )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 Contingency:Even after the end of the time specified in 148(1)and before Seller cancels this Agreement,if at all,pursuant
to 14C, Buyer retains the right to either(i)in writing remove remaining contingencies,or(ii)cancel this Agreement based upon a remaining
contingency or Seller's failure to Deliver the specified terms.Once Buyer's written removal of all contingencies is Delivered to Seller, Seller
may not cancel this Agreement pursuant to 14C(1).
C. SELLER RIGHT TO CANCEL:
(1) Seller right to Cancel; Buyer Contingencies: If, within time specified in this Agreement, Buyer does not, in writing, 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 Perform
(C.A.R.Form NBP)may cancel this Agreement.In such event,Seller shall authorize return of Buyer's deposit.
(2) Seiler 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 3B;(Ii)if the funds deposited pursuant to 3A or 38 are not good when
deposited; (ill)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;(v1)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(vfil)if Buyer
fails to sign or initial a separate liquidated damage form for art increased deposit as required by paragraphs 38 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(ill)give Buyer at least 2(or 0 )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 1 4C(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 with regard to that contingency or cancellation right conclusively
be deemed to have:(I)completed all Buyer Investigations,and review of reports and other applicable information and disclosures; (it)elected to
proceed with the transaction;and(Ill)assumed all liability,responsibility and expense for Repairs or corrections 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 give 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 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 31,000 for refusal to sign such
instructions if no good faith dispute exists as to who is entitled to the deposited funds(Civil Code§1067.3).
16. 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 approval requirements.Repairs shall be performed in a good,skillful manner with materials of quality and appearance comparable to
existing materials. It is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible. Seller shall:(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 6(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(ill)Seller has complied with Seller's other obligations under this Agreement(CAR.Form VP).
17.PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS:Unless otherwise agreed in writing,the following items shall be PAID CURRENT and
prorated between Buyer and Seller as of Close Of Escrow:real property taxes and assessments,interest,rents,HOA regular,special,and emergency
dues and assessments imposed prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and assessments
assumed by Buyer,and payments on Mello-Roos and other Special Assessment District bonds and assessments that are a current 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 a current lien but not yet due.Property will be reassessed upon change of
ownership.Any supplemental tax bills shall be paid as follows:(I)for periods after Close Of Escrow,by Buyer;and(II)for periods prior to Close Of
Escrow,by 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.Proration shall be made based on a 30-day month.
Buyer's Initials( )( ) Seller's Initials( )( ) O
Copynght 0 1991-2010,CALIFORNIA ASSOCIATION OF REALTORS®,INC.
RPA-CA REVISED 4/10(PAGE 5 OF 8) Reviewed by Date EOM MING
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 5 OF 8)
74537 King Fisher Cir
Property Address: Palm Desert, CA 92260 Date: February 14,2013
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 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.ATTORNEY FEES: In any action, proceeding,or arbitration between Buyer and Seller arising out of this Agreement,the prevailing Buyer or Seller
shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or SeUer,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 personalty 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 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 stall 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",regardless of the method used(i.e.messenger, mail,email,fax,other),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;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 alter the content or integrity of this Agreement without the
knowledge and consent of the other party.
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),alterations,replacements,modifications or retrofitting of the Property provided for under this
Agreement.
L. "Signed"means either a handwritten or electronic signature on an original document,Copy or any counterpart.
23.BROKER COMPENSATION: Seller or Buyer, or both, as applicable, agrees to pay compensation to Broker as specified in a separate written
agreement between Broker and that Seller or Buyer. Compensation is payable upon Close Of Escrow, or 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, 138,14F,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 of Buyer's or Seller's funds, or
both, as applicable, the respective Broker's compensation provided for in such agreement(s).The terms and conditions of this Agreement not
specifically referenced above,in the specified paragraphs are additional matters for the information of Escrow Holder, but about which Escrow
Holder need not be concerned. Buyer and Seller will receive Escrow Holder's general provisions directly from Escrow Holder and will execute
such provisions upon Escrow Holder's request.To the extent the general provisions are inconsistent or conflict with this Agreement,the general
provisions will control as to the duties and obligations of Escrow 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
Information to Title company when received from Seller. Buyer and Seller authorize Escrow Holder to accept and rely on Copies and Signatures
as defined in this Agreement as originals,to open escrow and for other purposes of escrow.The validity of this Agreement as between Buyer and
Seller is not affected by whether or when Escrow Holder Signs this Agreement.
C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraphs 23 and paragraph D of the section titled Real
Estate Brokers on page 8.Buyer and Seller irrevocably assign to Brokers compensation specified in paragraphs 23,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 a mended 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 either Buyer or 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( )( )
Copyright01991-2010,CALIFORNIA AS^,OrIATION OF REALTORSS,INC.
RPA-CA REVISED 4/10(PAGE 6 OF 8)Print Date Reviewed by Date OPPORTUNITY
HO
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 6 OF 8)
74537 King Fisher Cir
Property Address: Pain; Desert, CA 92260 Date: February 14,2013
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).
Buyer's initials i Seller's Initials /
28.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 involved.If,for any dispute or claim to which this paragraph applies,any party(i)commences an action
without first attempting to resolve the matter through mediation,or(ii)before commencement of an action,refuses to mediate after 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 party in any such action.
THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED.Exclusions from this mediation
agreement are specified in paragraph 26C.
B. ARBITRATION OF DISPUTES:
Buyer and Seller agree that any dispute or claim in Law or equity arising between them out of this Agreement or any
resulting transaction,which is not settled through mediation,shall be decided by neutral, binding arbitration. Buyer and
Seller also agree to arbitrate any disputes or claims with Broker(s),who,in writing,agree to such arbitration prior to,or
within a reasonable time after,the dispute or claim is presented to the Broker.The arbitrator shall be a retired judge or
justice,or an attorney with at least 6 years of residential real estate Law experience, unless the parties mutually agree to
a different arbitrator.The parties shall have the right to discovery in accordance with Code of Civil Procedure§1283.05.
In all other respects, the arbitration shall be conducted in accordance with Title 9 of Part 3 of the Code of Civil
Procedure.Judgment upon the award of the arbitrator(s)may be entered into any court having jurisdiction. Enforcement
of this agreement to arbitrate shall be governed by the Federal Arbitration Act. Exclusions from this arbitration
agreement are specified in paragraph 26C.
"NOTICE:BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT
OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION
AS PROVIDED BY CAUFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS TO HAVE THE
DISPUTE UTIGATED 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."
Buyer's Initials , / Seller's Initials /
C. ADDITIONAL MEDIATION AND ARBITRATION TERMS:
(1) EXCLUSIONS:The following matters shall be 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 Installment land sale contract as defined In Civil Code 112886;(II)
an unlawful detainer action;(1ill)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 or violation of the
mediation and arbitration provisions.
(2) BROKERS:Brokers shall not be obligated or 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 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 such paragraph(s), a counter offer is required until agreement is reached. Seller has the right to continue to offer the
Property for sale and to accept any other offer at any time prior to notification of Acceptance.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 Seiler.
Buyer's Initials( )( ) Seller's Initials( )( )
Copynght6 1 991-2010,CALIFORNIA ASSOCIATION OF REALTORS®,INC.
RPA-CA REVISED 4/10(PAGE 7 OF 8) Reviewed by Date EON ROWING
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 7 OF 8)
74537 King Fisher Cir February 14,2013
Property Address: Palm Desert, CA 92260 Date: ►Y
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, in by
O AM 0 PM,on ( ate)).
Buyer has read and acknowledges receipt of a Copy of the offer and agrees to the above confirmation of agency relationships.
Date Date
BUYER A qualified buyer of low or moderate income BUYER
(Print name) (Print name)
(Address)
❑Additional Signature Addendum attached(C.A.R.Form ASA),
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 Palm Desert Housing Authority SELLER
(Print name) (Print name)
(Address)
❑Additional Signature Addendum attached(C.A.R.Form ASA).
( / ) CONFIRMATION OF ACCEPTANCE:A Copy of Signed Acceptance was personally received by Buyer or Buyer's authorized
(Initials) agent on(date) at 0 AM 0 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 confirmation is not legally required In order to create a binding Agreement.It is solely
intended to evidence the date that Confirmation of Acceptance has Occurred.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seiler.
B. Agency relationships are confirmed as stated in paragraph 2.
C. If specified in paragraph 3A(2),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)0(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.
Rget-estetc Broker(Selling Firm) DRE Lic.#
By DRE Lic.# Date
Address City State Zip
Telephone Fax E-mail
Real Estate Broker(Listing Firm) DRE Lic.#
By DRE Lic.# Date
Address City State Zip
Telephone Fax E-mail
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement,(if checked,0 a deposit in the amount of$ ),
counter offer numbered , El Seller's Statement of Information and ®Other Addendum#1
,and agrees to act as Escrow Holder subject to paragraph 24 of this Agreement,any
supplemental escrow instructions and the terms of Escrow Holder's general provisions if any.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is .
Escrow Holder FOreslte Escrow Escrow#
By Esther'Lopez Date
Address
Phone/Fax/E-mail
Escrow Holder is licensed by the California Department of 0 Corporations,D Insurance,0 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
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 Me entire real estate industry.I 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 Distributed by:
REAL ESTATE BUSINESS SERVICES,INC. A
a srbmtlfarydthe CaiarliaAssDoied'on ofREALTOR9( Reviewed by
m 525 SouthVirgt Avenue,Los Angeles,California 90020 Broker or b Date EOM WING
REVISION DATE 4/10 OPPORTUNITY
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA-CA PAGE 8 OF 8)
4`illt CALIFORNIA
i ASSOCIATION BUYER'S INSPECTION ADVISORY
�� OF REALTORS- (C.A.R.Form BIA-A,Revised 10102)
Property Address: 74537 King Fisher Cir, 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 personally and with
professionals who should provide written reports of their investigations.A general physical inspection typically does not cover all aspects
of the Property nor items affecting the Property that are not physically located on the Property. if the professionals recommend further
investigations, including a recommendation by a pest control operator to inspect inaccessible areas of the Property,you should contact
qualified experts to conduct such additional investigations.
B. BUYER RIGHTS AND DUTIES: You have an affirmative duty to exercise reasonable care to protect yourself, including discovery of
the legal, practical and technical implications of disclosed facts, and the investigation and verification of information and facts that you
know or that are within your diligent attention and observation.The purchase agreement gives you the right to investigate the Property. If
you exercise this right, and you should, you must do so in accordance with the terms of that agreement. This is the best way for you to
protect yourself. It is extremely important for you to read all written reports provided by professionals and to discuss the results of
inspections with the professional who conducted the inspection. You have the right to request that Seller make repairs, corrections or
take other action based upon items discovered in your investigations or disclosed by Seller. if Seller is unwilling or unable to satisfy your
requests, or you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the
agreement 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 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 walls and other natural or constructed barriers or markers do not necessarily
identify true Property boundaries. (Professionals such as appraisers, architects, surveyors and civil engineers are best suited to
determine square footage,dimensions and boundaries of the Property.)
3. WOOD DESTROYING PESTS: Presence of, or conditions likely to lead to the presence of wood destroying pests and organisms
and other infestation or infection. Inspection reports covering these items can be separated into two sections: Section 1 identifies
areas where infestation or infection is evident. Section 2 identifies areas where there are conditions likely to lead to infestation or
infection.A registered structural pest control company is best suited to perform these inspections.
4. SOIL STABILITY: Existence of fill or compacted soil,expansive or contracting soil,susceptibility to slippage,settling or movement,
and the adequacy of drainage.(Geotechnical engineers are best suited to determine such conditions,causes and remedies.)
The copyright laws of the United States (Title 17 U.S. Code) forbid the
unauthorized reproduction of this form,or any portion thereof, by photocopy Buyer's Initials( .)( )
machine or any other means,including facsimile or computerized formats. Seders Initials( )( )
Copyright 0 1991-2004, CALIFORNIA ASSOCIATION OF REALTORS®, it
INC.ALL RIGHTS RESERVED. Reviewed by Date WNW
OPPORTUNITY
BIA-A REVISED 10102(PAGE 1 OF 2)
BUYER'S INSPECTION ADVISORY(BIA-A PAGE 1 OF 2)
Agent: Phone: Fax:
Broker:
Property Address: 74537 King Fisher Cir, Palm Desert, CA 92260 Date: February 14,2013
5. ROOF: Present condition,age, leaks, and remaining useful life. (Roofing contractors are best suited to determine these conditions.)
6. POOL/SPA:Cracks,leaks or operational problems.(Pool contractors are best suited to determine these conditions.)
7. WASTE DISPOSAL: Type, size, adequacy, capacity and condition of sewer and septic systems and components, connection to
sewer,and applicable fees.
8. WATER AND UTILITES; WELL SYSTEMS AND COMPONENTS: Water and utility availability, use restrictions and costs. Water
quality,adequacy,condition,and performance of well systems and components.
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 information on these conditions.)
11.FIRE, HAZARD AND OTHER INSURANCE: The availability and cost of necessary or desired insurance may vary. The location of
the Property in a seismic, flood or fire hazard zone, and other conditions, such as the age of the Property and the claims history of
the Property and Buyer, may affect the availability and need for certain types of insurance. Buyer should explore insurance options
early as this information may affect other decisions,including the removal of loan and inspection contingencies. (An insurance agent
is best suited to provide information on these conditions.)
12.BUILDING PERMITS, ZONING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certificates, zoning, other
governmental limitations, restrictions, and requirements affecting the current or future use of the Property, its development or size.
(Such information is available from appropriate governmental agencies and private information providers. Brokers are not qualified to
review or interpret any such information.)
13.RENTAL PROPERTY 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 intemet 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; (if) Does not
guarantee the condition of the Property;(lii)Does not guarantee the performance,adequacy or completeness of inspections,services,products or
repairs provided or made by Seller or others;(iv)Does not have an obligation to conduct an inspection of common areas or areas off the site of the
Property;(v)Shall not be responsible for identifying defects on the Property,in common areas,or offsite unless such defects are visually observable
by an inspection of reasonably accessible areas of the Property or are known to Broker;(v1)Shall not be responsible for inspecting public records or
permits concerning the title or use of Property;(v11)Shall not be responsible 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.-
A qualified buyer of low or moderate income
Buyer Signature Date Buyer Signature Date
Palm Desert Housing Authority
Seller Signature Date Seller Signature Date
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS®(CAR.).NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS.IF YOU DESIRE LEGAL OR TAX ADVICE,CONSULT AN APPROPRIATE PROFESSIONAL.
This 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 Distributed by:
Il EN
REAL ESTATE BUSINESS SERVICES,INC.
asubsdayoftheCallomiaAssociafonoIREALTORSO Reviewed by Date Eau HOUSING
„525 South Viigil Avenue.Los Angeles,Califomia 90020 OPPORTUNITY
BIA-A REVISED 10/02(PAGE 2 OF 2)
BUYER'S INSPECTION ADVISORY(BIA-A PAGE 2 OF 2)
,+'ilit
CALIFORNIA
dip ASSOCIATION ADDENDUM
OF &SALTORS®
(C.A.R.Form ADM,Revised 10/01) i No.
The following terms and conditions are hereby incorporated in and made a part of the: It Residential Purchase Agreement,
0 Manufactured Home Purchase Agreement 0 Business Purchase Agreement, 0 Residential Lease or Month-to-Month Rental
Agreement, ❑ Vacant Land Purchase Agreement, 0 Residential Income Property Purchase Agreement ❑ Commercial Property
Purchase Agreement, ❑other
dated ,on property known as 74537 King Fisher Circle,Palm Desert CA 92260
in mtick A qualified buyer of low or moderate income is referred to as("Buyer/Tenant")
and Palm Desert Kousmg Autnonty is referred to as("Seller/Landlord").
The sale of this propertyis subject to a public hearina scheduled for February 14,2013.
This properly will have a Restrictive A that Buyer must execute and will be recorded agamst the subject
property In favor of the Palm Desert �•Hous- A ror►"ty with restrnclions incivaing but not
limited to ailr+0lydablfity,primary residency retlul ,resale a resir�t s and a Right or i,st Reltrsa►io
the Housing Authority.argon other restrictions.
fire City of Palm Desert and the Housing Authority may provide down payment assistance to ensure an arroraaPie
housing cost:such loan may be silent for all or part of the term of the loan. The amount of assistance will vary but
will ha in an arm+unt to ensure an affordable housing cost defined under California's Health and Safety Codes and
contingent on the prirnarq loan approval.
As Seller is a government entity and not subject to real property taxes,no proration will be made tnrougn escrow
for this purpose. Buyer is responsible from the date of escrow closing for real property taxes due and will receive
A Pryy.arty Taw Rill dirart fr»m the Tan cnl1ortnr's Offire
The foregoing terms and conditions are hereby agreed to,and the undersigned acknowledge receipt of a copy of this document.
Date Date
Buyer/Tenant A aualified buyer of low or moderate income Seller/Lnndbrd Palm Desert Housing Authority
Buyer/Tenant Seller/Landlord
The copydght laws of the United Star(nIle 17 U.S.Code)forbid the unauthorized reproduction of this form,or any portion thereof,by photocopy machine or any other means,
Including facsimile or computerized formats.Copyright*1995.2001,CALIFORNIA ASSOCIATION OF REALTORS',INC.ALL RIGHTS RESERVED.
THIS FORM HAS BEEN APPROVED BY THE CALIFORWA ASSOCIATION OF REALTORS'(CA.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 Indusry.It Is not Intended to identify the user as a REALTOR&REALTORS Is a registered collective membership mark
which may be used only by members of the NATIONAL ASSOCIATION OF REALTORSO who subscribe to its Coda of Ethics.
Published and Distributed by:
REAL ESTATE BUSINESS SERVICES,INC.
a subsidy),of the CALIFORNIA ASSOC/ATM OF REALTORS* Reviewed by
525 South VkgB Avenue,Los Angeles,California 90020 Broker or Designee Date iti
ADM-11 REVISED 10101(PAGE 1 OF 1) °csP a aaa sr rr
ADDENDUM(ADM-11 PAGE 1 OF 1)
Giileren Griffin Company 1575 Westwood Blvd.0300, Los Angeles CA 90024
Phone:(310)478-1835 Fax: (310)478-2135 Giileran Griffin Company „yh
Sanchez, Gloria
From: Moeller, Charlene[CMOELLER@palmspri.gannett.com]
Sent: Tuesday, January 29, 2013 3:18 PM
To: Sanchez, Gloria
Subject: RE: Legal Notice-Public Hearing 02/14/13-FC Lot#88
Ad received and will publish on date(s) requested.
Charlene Moeller I Media Sales Legal Notice Coordinator
The Desert Sun Media Group
750 N. Gene Autry Trail, Palm Springs, CA 92262
t 760.778.4578 I f 760.778.4731
legals(c thedesertsun.com/dowlegals@thedesertsun.com
The Coachella Valleys#1 Source in News&Advertising!
www.mvdesert.com I twitter ' facebook , u n n
This email and any files transmitted with it are confidential and intended for the individual to whom they
are addressed. If you have received this email in error, please notify the sender and delete the message
from your system
From: gsanchez@a�cityofpalmdesert.orq [mailto:gsanchez@cityofpalmdesert.orq]
Sent: Tuesday, January 29, 2013 2:58 PM
To: tds-legals
Cc: plleon@cityofp_almdesert.org; igonzalesOcityofpalmdesert,org
Subject: Legal Notice - Public Hearing 02/14/13 - FC Lot #88
PLEASE PUBLISH THE FOLLOWING:
NOTICE INVITING BIDS
Notice of Public Hearing of the City of Palm Desert and the Palm Desert Housing Authority Regarding the
Proposed Approval of a Residential Purchase and Sale Agreement—74537 King Fisher Circle, Palm Desert
TWICE IN THE DESERT SUN
Thursday,January 31,2013
Thursday, February 7, 2013
If you have any questions or require additional information, please call me.
Thanks, Charlene!
14?.910143a. 5a4vdv,
Records Technician
City of Palm Desert
73-510 Fred Waring Drive
1
NOTICE OF A PUBLIC HEARING
OF THE CITY OF PALM DESERT AND THE PALM DESERT HOUSING
AUTHORITY REGARDING THE PROPOSED APPROVAL OF A RESIDENTIAL
PURCHASE AND SALE AGREEMENT
NOTICE IS HEREBY GIVEN that the City of Palm Desert (the "City") and Palm
Desert Housing Authority (the "Authority") will hold a Public Hearing to consider
the approval of Residential Purchase and Sale Agreement (the "Purchase and
Sale Agreement") by and between the Authority, as seller, and a person or family
of low or moderate income, as buyer. The Purchase and Sale Agreement
pertains to a single-family residence owned by the Authority located at 74537
King Fisher Circle, Palm Desert, CA 92260.
Said Public Hearing will be held as follows:
DATE: Thursday, February 14, 2013
TIME: 4:00 P.M.
PLACE: City of Palm Desert
Council Chambers
City Hall
73-510 Fred Waring Drive
Palm Desert, California 92260
A copy of the Purchase and Sale Agreement is available for public inspection
and copying at a cost not to exceed the cost of duplication, at the Office of the
City Clerk, 73-510 Fred Waring Drive, Palm Desert, 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, 73-510 Fred Waring Drive, Palm Desert, California 92260.
Dated: January 29, 2013 4L116
R. he e D. Klassen, S-cretary
Palm Desert Housing Authority
(760) 346-0611
C:\Documents and Settings\gmartinez\Local Settings\Temporary Internet Files\Content.Outlook\14UON6GI\Notice of Public Hearing FC Lot 88-2-14-13.doc