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HomeMy WebLinkAbout2001-12-18; City Council; 16486; Madison Street Property PurchaseCITY OF CARLSBAD - AGENDA BILL AB# ]@@~ -1 AUTHORIZATION AND APPROPRIATION OF FUNDING MTG. 12-18-01 FOR THE PURCHASE OF 3340/3344/3348 MADISON STREET (APN 204-093-03) DEPT. ED RECOMMENDED ACTION: Approve Resolution No. && 381 authorizing the Mayor to execute all documents associated with the purchase of 3340/3344/3348 Madison Street, Carlsbad, CA from Russell L. Bennett LLC, and appropriating $406,000 from the Park In Lieu -Northwest Quadrant ‘Fund for the purchase of said property, conducting of special surveys, reports and payment of associated fees and other purchase related expenses. ITEM EXPLANATION: In November 2001, it was brought to the attention of the City of Carlsbad that property located at 3340/3344/3348 Madison Street (APN 204-093-03), adjacent to City owned property, was listed for sale. The City contacted the Seller’s representative to indicate its interest in the property for a future public use. Now that negotiations with the seller have been completed, the essential elements of that negotiation are being reported out pursuant to California Government Code Section 54957.1(a)(l). Sellers for the property have indicated a desire to proceed with a sale of the property to the City of Carlsbad at a purchase price of $396,500. Close of escrow will be contingent upon completion of a Residential Appraisal, a Phase I Environmental Survey to determine the existing condition of the properties, and a finding of consistency with the City’s General Plan, to be made by the Carlsbad Planning Commission. ENVIRONMENTAL IMPACT: The Planning Director has determined that the project is exempt from the California Environmental Quality Act, pursuant to Section 15061(b)(3) of the CEQA Guidelines. Section 15061(b)(3) exempts projects or activities where it can be seen with certainty that there is no possibility that the activity may have a significant effect on the environment. Simple acquisition of property, with no plan for development of that property, is such an activity. Should the City decide to pursue development of the site, additional environmental review will be conducted. FISCAL IMPACT: Acquisition of these properties will necessitate a loan of up to $100,000 from the General Capital Construction Fund balance to the Park In Lieu - Northwest Quadrant Fund, with the remaining balance of $306,000 coming from the fund balance in the Park In Lieu - Northwest Quadrant Fund. The available fund balance in the Park In Lieu - Northwest Quadrant Fund, as of November 30,2001, was approximately $400,000, and in the General Capital Construction Fund was approximately $6.8 million. Therefore, sufficient funds are available to fund the purchase of the properties and all associated fees and expenses. PAGE 2 OF AGENDA BILL NO. \ 6/ q 9 b EXHIBITS: 1. Resolution No. zm/ - 3 8 ( of the City of Carlsbad, California, authorizing the Mayor to execute all documents associated with the purchase of (3340/3344/3348 Madison Street (APN 204-093-03), in the City of Carlsbad and appropriating $406,000 from the Park In Lieu - Northwest Quadrant Fund balance. 2. Parcel Map 3. Purchase Agreement 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION NO. 2001-381 RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, AUTHORIZING THE MAYOR TO EXECUTE ALL DOCUMENTS ASSOCIATED WITH THE PURCHASE AND TRANSFER OF INTEREST IN 3340/3344/3348 MADISON STREET, APN 204-093-03 FROM RUSSELL L. BENNETT LLC, APPROVING A LOAN FROM THE GENERAL CAPITAL CONSTRUCTION FUND TO THE PARK IN LIEU FUND - NW QUADRANT, AND APPROPRIATING FUNDS FOR PURCHASE AND PAYMENT OF FEES AND EXPENSES ASSOCIATED WITH THE PROPERTIES. WHEREAS, the City Council of the City of Carlsbad has determined that it is in the best 1 interest of the City to acquire 3340/3344/3348 Madison Street fi-om the current owner, Russell L. Bennett LLC; and WHEREAS, the City Council has further determined a purchase price of $396,500 for the property is appropriate; and WHEREAS, the acquisition of these properties is contingent upon a finding that the acquisition is consistent with the Carlsbad General Plan and completion of due diligence. NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad, California as follows: 1. That the above recitations are true and correct. 2. That the Mayor is authorized to execute all documents associated with the purchase and transfer of interest in 3340/3344/3348 Madison Street to the City of Carlsbad. 3. That a loan of $100,000 for purchase of the property is authorized from the General Capital Construction Fund balance to the Park In Lieu - Northwest Quadrant Fund, to be repaid when sufIicient tids are collected in the Park In Lieu - Northwest Quadrant Fund. II/ /I/ l/f 1 2 3 4 5 6 7 8 9 10 11 12 13 16 17 18 19 20 21 22 23 24 25 26 27 28 4. That an appropriation of $406,000 for purchase of the property, including all associated fees and expenses is authorized fi-om the Pa&In Lieu - Northwest Quadrant Fund. PASSED, APPROVED, AND ADOPTED at a regular meeting of the City Council on the 18th day of DECEMBER 2001, by the following vote to wit: AYES: Council Members Lewis, Kulchin, .Finnila, Nygaard NOES: None ABSENT: None ABSTAINED: Council Member Hall((/ ,' ' Mayor ATTEST: City Clerk / (SEAL) 1 -2- 1 WALNUT I CHESTNUT I 6 3 J-f’ ,- !.,.-I , ., ;.: cr:iL;y4r .L,.. ,ry ‘:,,F -4 AN - tu” -q@3; I -- *, B1 .-- - =sFi - j@’ 4 x 0 - iT: =- -- .- -w r I‘, -y-r&“& PUBLISHED AND DISTRIBUTED BY REAL ESTATE BUSINESS SERVICES, INC FORM DS-11 The following terms and conditions are hereby incorporated in and made a part of the: &sidential Purchase Agreement and Receipt for Deposit, 0 Manufactured Home Purchase Contract and Receipt for Deposit, 0 Business Purchase Contract and Receipt for Deposit, q Residential Lease or Month-to-Month Rental Agreement, 0 other dated ‘CleC lb, O/ on property known as 335@ /'VAJhSOb' in which f /?V dtc P~Aie~-mPSD is referred to as Buyer- and cr5$!?LL 1 . /Tedder /.4X + is referred to as Seller/W. 0-f 4%4~ae_ V~~CAP)C~~S , fie’y WAC NOT Be. RemeD M/siiJF wh e (‘0 Scrub The foregoing terms and conditions are hereb A agreed to, and the undersigned acknowledge receipt of a copy of this document. Date Seller- Buyerflenant Seller/Landlord. 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, CONSULTAN APPROPRIATE PROFESSIONAL. This form is available for use by the entire real estate industry. 11 is not intended to identl the user as a REALTOR@. REALTOW is a registered collective membership mark which may be used only by members of the NATlONALASSOCIAT4ON OF REALTOR SJ who subscribe to its Code of Ethics. 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 computerised formats. Copyright 0 1986-1998, CALIFORNIA ASSOCIATION OF REALTORS@, INC. AU RIGHTS RESERVED. Published and Distributed by: REAL ESTATE BUSINESS SERVICES, INC. Page 9 of 4 Pages. a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS@ 525 South Virgil Avenue, Los Angeles, Caliiomia 90020 REVISED 10198 PRINT DATE RMAYOD I MAST&R COPY eA.I-r”.cIT .~~F.lnwl..l II- I ,me? l . nrrre I rre .\ RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS ’ CALIFORNIA (AND RECEIPT FOR REPOSIT) ASSOCIATION For Use With Single Famify Residenfiaf Property - OF REALTORS@ Attached or Detached 1. OFFER . A THl0l0ANoRERmtm fTc7-v . PJWY. 0. THEREAL PFWERWOEfEAd lsdesdedas ,silmtedin c. Tmlxl&HAs F/l/e D. CLOBEOFEBCMW (drde)). 2 FMANCM3~Iheloamb&wlsacadhgeney dthisAseementlnless:Oeilher~wBischedredbebwwOolherwiseageed.BuyershdladdiligerWy andingoodfailhto~the~bans.~depmit,~paymentand~codsisnda~. A BUYER HAS GIVEN A DEPOSIT TO THE AGENT SUBMllTlNG THE OFFER . . . . . . . . . . . . . . . . . . . . . _ . . . . . . . . .$ (or to q _), made payable to i=‘sc Ro by Personal Check, or Cl ,which shall be held uncashed until Acceptance and then deposited within 3 business days after Acceptance or Cl 0 with Escrow Holder, Cl into Broker’s trust account, or Cl Buyer represents that funds will be good when deposited with Escrow Holder. B. INCREA D DEPOBIT shall be deposited by Buyer with Escrow Holder within - Days After Acceptance, BitAd -Dec. x9+! . . . . . . . or S%;OOO C. FN0TLOANNllE AMolNToF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ (1) NEW First Deed of Trust in favor of LENDER, encumbering the Property, securing a note payable at maximum interest of 96 fixed rate, or % initial adjustable rate with a maximum interest rate cap of %, balance due in years, amortized over years. Buyer shall’ pay loan fees/points not to exceed . (These terms apply whether the designated loan is conventional, FHA or VA.) (2) Cl FHA, Cl VA: (The following terms only apply to the FHA or VA loan that is checked.) Seller shall pay (i) % dint points, (ii) other fees not altowed to be paid by Buyer, not to exceed $ , and (iii) the cost of lender required Repairs not otherwtse provided for in this Agreement, not to exceed $ (AdUdlCi3flarount~-ifmordgage iISWlC@prsmiunshHldIlg~W~~cosrSflMnCed.) D. ADDITIONAL FINANCING TERMS: . . . . S Cl Seller financing, (C.A.R. Form SFA-11); Cl junior financing; Cl assumed financing (C.A.R. Form PAA-11). E. BALANCEWPU~PRICE(~~~d~~~~~~)~~~~ _............... $3~3,500 Escrow l-k&rwfthk~suki&nttimetodoseesaw. F. TomLPuRcHA8EpwcE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . G. LOAN cofawGENcYshslremainh~uldlflhe~loansarafundsd(w0 . . . . . . . . . . . . . . . $35?.5ka -bavsAAerAccepQnce,bY~tkneByef Qkeseller mit$nnoticed~~tocancellhisAgeementfWE/er’surabletoobBinthe~bans.#Buyerdoes~t~Sellersuch,the~ dcbtaMgthedesignated~shalbebbythehe~h~l4). H. q NOLOAN CONTMG~(~~~anyloaninparagdphsX,2DorelsewhereinthisAgeementis~acanSngencyd~Agreemenl.If BuVerdoesndobtairtheban,andasaresultWlyerdoesnotpuchasethe~,SellermaybeenlitledbBuyer’s~orolherlegalremedies. 1 ~CASHORER:(~~Nobanisneededbpuchasethe~Buyec~,withinS(WO)DeysARetPcceptance,pwideSelerwritten ~ds~~~~~Sellermay~this~~~~5~~OtLnetopwidev~~,1Buyer failstopmide-cw(ii)receiptdveNcbn,~SelerreasonablycZsapprauesk J. LOANAPPLICA TK)F(s5PFtEGUAlJFlCA~ WtiS(wO ~DsysMerAax@anm,BuyershallpmideSekraleltfxfromlanderormortgageloan aoker~1hat,basedonareviewdW~~~~reporfBuyerisprequaEfiedfortheNONbanindcatedabwe.~&lyerfaJstoprovide (dler~thatfbne,sellermaycanceflhispgeementln~. K 2 APPRAlSAL~PICY:(n~This~is~lponRoperty~afnolessthanthe~totdpurchase price. If there is a loan contingency, the appraisal contingency shall remain in effect until the loan contingency is removed. tf there is no loan contingency, the appraisal contingency shall be removed within 10 (or Cl A Days After Aaq&mre. A n The copyright laws of the United States (Title 17 U.S. Code) forbid the unauthorired reproduction of this form, or any portion thereof. by photocopy machine or any other means, Including facsimile or computerized formats. Copyright 0 1991-2000, CALlFORNiA ASSOCIATION OF REALTORS@, INC. ALL RIGHTS RESERVED. Buyer and Seller ac Buyer’s lniti Seller’s lnifi Reviewed by REVISION DATE IO/2000 Broker or Designee Date Print Date R JAN 01 I RPA-11-l (PAGE 1 OF 8) MASTER COPY RFCtt?FNTtAl PIIRCHASF AGREEMENT (RPA-11-1 PAGE 1 OF 81 Property Address: yo ftlR~/Sd$ Date: /rm/ued/ 3. CLOSING AND OCCUP NCY A. Buyer Cl does, a$ does not intend to occupy Property as Buyer’s primary resi ence. B. Seller occupied or vacant property: Occupancy shall.be delivered to Buyer at -L MIPM, 6the date of Close Of Escrow, 0 on , or Cl no later than Days After Close Of Escrow. (See C.A.R. Form PAA-11, paragraph 2.) If transfer of title and occupancy do not occur at the same time, Buyer and Seller are advised to (i) enter into a written occupancy agreement, and (ii) consult with their insurance advisors. C. Tenant occupied property: At Close of Escrow, Property shall be vacant unless otherwise agreed in writing. Seller has the responsibility to (i) comply with rent control and other Law necessary to deliver Property vacant, and (ii) determine whether timely vacancy is @mitted under such Law. D. At Close Of Escrow, Seller assigns to Buyer any assignable warranty rights for items included in the sale and shall provide any available copies of such 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 unit in a condominium or other common interest subdivision, Buyer may be required to pay a deposit to the Homeowners’ Association (“HOA”) to obtain keys to accessible HOA facilities. 4. ALLOCATION OF COSTS (If checked): If any of the inspections or reports in 4A, B, C and D are checked, then with regard to that item, Buyer shall have approval (including approval of alternate methods of treatment, if any, recommended by the Pest Control Report), removal and cancellation rights, and obligations as specified in paragraph 14. (The rights in paragraph 14 apply whether or not Buyer and Seller agree below who is to pay for Section 1 or Section 2 recommended work.) A. PEST CONT . L Cl Buyer fsilr eller shall pay for a Pest Control Report (for wood destroying pests and organisms only) (“Report”). The Report shall be prepared by a registered structural pest control company, who shall separate the Report into sections for evident infestation or infe&on (Section 1) and for conditions likely to lead to infestation or infection (Section 2). The Report shall cover the main building and attached structures and, if checked: Cl detached garages and carports, 0 detached decks, 0 the following other structures on the Property: . The Report shall not cover roof coverings. If Property is a unit in a condominium or other common interest subdivision, the Report shall cover only the separate interest and any exclusive-use areas being transferred, and shall not cover common areas. Water tests of shower pans on upper level units may not be performed unless the owners of properly below the shower consent. If Buyer requests inspection of inaccessible areas, Buyer shall pay for the cost of entry, inspection and closing for those areas, unless otherwise agreed. A written Pest Control Certification shall be issued prior to Close Of Escrow, unless otherwise agreed, and only if no infestation or infection is found or if required corrective work is completed. (Section 1) Cl Buyer Cl Seller shall pay for work recommended to correct “Section 1” conditions described in the Report and the cost of inspection, entry and closing of those inaccessible areas where active infestation or infection is discovered. (Section 2) Cl Buyer Cl Seller shall pay for work recommended to correct “Section 2” conditions described in the Report if’ requested by Buyer. OTHER INSPECTIONS AND REPORTS B. 0 Buyer 0 Seller shall pay to have septic or private sewage disposal system inspected. C. Cl Buyer Cl S ler shall pay to have domestic wells tested for water potability and productivity. D. Cl Buyer r.2 Seller shall pay for a natural hazard zone disclosure report prepared by GOVERNMENT REQUIREMENTS AND RETROFIT E. Cl Buyer Cl 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 a written statement of compliance in accordance with state and local Law, unless exempt. F. Cl Buyer Cl 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. G. i!!f%$w:,: ::pif;:::,C:f= Escrow Holder shall be 56/50 U # i T&p H. Cl Buyer &Seller shall pay for owner’s title insurance policy specified in paragraph 12. Owner’s title policy to be issued by u fl i reb (Buyer sh ‘pay for any title insurance policy insuring Buyer’s Lender, unless otherwise agreed.) I. 0 Buyer d? eller shall pay County transfer tax or transfer fee. J. 0 Buyer Cl Seller shall pay City transfer tax or transfer fee. K. •i Buyer Cl Seller shall pay HOA transfer fees. L. 0 Buyer Cl Seller shall pay HOA document preparation fees. M. Cl Buyer q Seller shall pay the cost, not to exceed $ , of a one-year home warranty plan, issued by with the following optional coverage: The copyright laws of the United States (Tille 17 U.S. Code) forbid Phe unauthorksd reproduction of this form, or any portion thereof, by phu?ocopy machne or any other means, Muding facsimile or compu!?rized formats. Zopyrjght 0 ‘8991-2000, CMFORNfA .ASS’X?ATION OF REAFf=QFtS@, INC. ALL RfGHTS RESERVED. Buyer and Seller ack Reviewed by t of a copy of this page. L . =*. I * ‘.‘i’.’ l”l.A _ _ I s I I . . REVISION DATE 1012000 Print Date R MAY 01 RPA-11 (PAGE 2 OF 8) Broker or Designee IblASTER COPY Date --. -..- -.. _ -- _ ---- _----- .--- -. -- -- - -- -. Property Address: 33 gco Pvl A-3 / wd Date: /a- /d -6/ 5. TRANSFER DISCLOSURE STATEMENT; NATURAL HAZARD DISCLOSURE STATEMENT; LEAD-BASED PAINT HAZARD DISCLOSURES; AND OTHER DISCLOSURES WITH CANCELLATlON RIGHTS: A. Within the time specified in paragraph 14, if required by Law, a Real Estate Transfer Disclosure Statement (“TDS”), Natural Hazard Disclosure Statement ((INHD”), Federal Lead-Based Paint Disclosures and pamphlet (“Lead Disclosures”), disclosure regarding industrial use (Property is in or affected by a zone or district allowing manufacturing, commercial or airport use) and military ordnance disclosure shall be completed and .delivered to Buyer, who shall return Signed Copies to Seller. B. 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 (including those made in a TDS) of which Buyer is otherwise unaware, Seller shall promptly provide a subsequent or amended disclosure, in writing, covering those, items. However, a subsequent or amended disclosure shall not be required for conditions and material Inaccuracies disclosed in reports received by Buyer. C. Seller shall (I) make a good faith effort to obtain a disclosure notice from any local agencies that levy a special tax on the Property pursuant to the Mello-Roos Community Facilities Act, and (ii) promptly deliver to Buyer any such notice made available by those agencies. D. If the TDS, the NHD, the Lead Disclosures, industrial use disclosure, military ordnance disclosure, the Mello-Roos disclosure notice, or a subsequent or amended disclosure 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. (Lead Disclosures sent by mail must be sent certified mail or better.) 8. DISCLOSURES: Within the time specified in paragraph 14. Seller shall: (i) disclose if Property is located in any zone identified in 6A and provide any other information required for those zones; (ii) if required by Law, provide Buyer with the disclosures and other information identified in 6B; and, (iii) if applicable, take the actions specified in 6C and 6D. Buyer, within the time specified in paragraph 14, shall then investigate the disclosures and other information provided to Buyer, and the database in 6E, and take the action specified in paragraph 14. A. NATURAL HAZARD ZONE: Special Flood Hazard Areas; Potential Flooding (Inundation) Areas; Very High Fire Hazard Zones; State Fire Responsibility Areas; Earthquake Fault Zones; Seismic Hazard Zones; or any other zone for which disclosure is required by Law. B. PROPERTY DISCLOSURES AND PUBLICATIONS: Earthquake Guides (and questionnaire) and Environmental Hazards Booklet. C. Cl (If checked) CONDOMlNlUM/COMMON INTEREST SUBDIVISION: Property is a unit in a condominium, or other common interest subdivision. Seller shall request from the HOA and, upon receipt, provide to Buyer: (i) Copies of any documents required by Law; (ii) disclosure of any pending or anticipated claims 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, if available; and (v) the names and contact information of all HOAs governing the Property (C.A.R. Form HOA-11). D. NOTlCE OF VIOLATION: If, prior to Close Of Escrow, Seller receives notice or is made aware of any notice filed or issued against the Property for violations of any Law, Seller shall immediately notify Buyer in writing. E. DATA BASE DISCLOSURE: NOTICE: The California Department of Justice, sheriff’s departments, police departments serving jurisdictionsof 200,000 or more and many other local law enforcement authorities maintain for public access a data base of the locations of persons required to register pursuant to paragraph (1) of subdivision (a) of Section 290.4 of the Penal Code. The data base is updated on a quarterly basis and a source of information about the presence of these individuals in any neighborhood. The Department of Justice also maintains a Sex Offender Identification Line through which inquiries about individuals may be made. This is a “900” telephone service. Callers must have specific information about individuals they are checking. Information regarding neighborhoods is not available through the “900” telephone service. 7. CONDITION OF PROPERTY: A. Unless otherwise agreed, (i) Property is sold (a) in its PRESENT physical condition on the date of Acceptance and (b) subject to Buyer Inspection rights; (ii) 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. B. SELLER SHALL DISCLOSE KNOWN MATERlAL FACTS AND DEFECTS AND MAKE OTHER DISCLOSURES REQUIRED BY LAW. C. Buyer has the right to inspect the Property and, based upon information discovered in those inspections, may reasonably request that Seller make Repairs, corrections or take other action as specified in paragraph 14. D. Note to Buyer: You are strongly advised to conduct inspections of the entire Property in order to determine its present condition since Seller may not be aware of all defects affecting the Property or other factors that you consider important. Property improvements may net be built according to codes or in compliance with current Law, or have had permits issued. E. Note to Seller: Buyer may request that you make certain Repairs and, in the event you refuse or are unable to make those Repairs, Buyer may cancel this Agreement as specified in paragraph 14. 8. A. ITEMS INCLUDED IN SALE: All EXISTING fixtures and fittings that are attached to the Property are INCLUDED IN THE PURCHASE PRICE (unless excluded in paragraph 6C below), and shall be transferred free of liens and without Seller warranty. Items to be transfeired shall include, but are not limited to, existing electrical, mechanical, lighting, plumbing and heating fixtures, fireplace inserts, solar systems, built-in appliances, window and door screens, awnings, shutters, window coverings, attached floor coverings, television antennas, satellite dishes and related equipment, private integrated telephone systems, air coolers/conditioners, pool/spa equipment, garage door openers/remote controls, attached fireplace equipment, mailbox, in-ground landscaping, including trees/shrubs, and (if owned by Seller) water softeners, water purifiers and security systems/alans. B. ADDITIONAL ITEMS INCLUDED: The following items of personal property, free of liens and without Seller warranty, are INCLUDED IN THE PURCHASE PRICE C. ITEMS EXCLUDED FROM SALE: The copyright laws of the United States (Title 17 U.S. Co&) fo&j the unauthorized reproduction of this form, or any portion therf&& by photocopy machine or any other means, including facsimile 01 computerized formats. Copyright 0 1991-2000, CALlFORN@ ASSOCIATION OF REALTORS@, INC. ALL RIGHTS RESERVED. Reviewed by REVISION DATE 10/2000 Print Date R MAY 01 RPA-11 (PAGE 3 OF 8) Broker or Designee Date I MASTER COPY ---_--_.-_-_ -__--..- -- _ ----_---.- _--_ __ -_ -- - -- _. Property Address: 33qn /r?ADl’SdfJ Date: /2-/o -61 9. BUYER’S INVESTIGATION OF PROPERTY CONDITION: 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 14. Buyer shall have the right at Buyer’s expense, unless otherwise agreed, to conduct inspections, investigations, tests, surveys, and other studies (“Inspections”), including the right to: (i) inspect for lead-based paint and other lead-based paint hazards; (ii) inspect for wood destroying pests and organisms (“Pest Control Report”);.and (iii) review the registered sex offender database. No Inspections shall be made by any governmental building or zoning inspector, or government employee, without Seller’s prior written consent, unless required by Law. Buyer shall complete these Inspections and give any written notice to Seller within the time specified in paragraph 14. At Seller’s request, Buyer shall give Seller, at no cost, domplete Copies of all Inspection reports supporting Buyer’s written requests. Seller shall make Property available for all Inspections. Seller shall have water, gas and electricity on for Buyer’s Inspections and through the date possession is made available to Buyer.. 10. 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 work complies with applicable Law, including governmental permit, inspection and approval requirements. Repairs shall be performed in a 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. 11. BUYER INDEMNITY AND SELLER PROTECTION FOR ENTRY UPON PROPERTY: Buyer shall: (i) keep Property free and clear of liens; (ii) indemnify and hold Seller harmless from all liability, claims, demands, damages and costs; and (iii) Repair all damages arising from Inspections. 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 inspections 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 for Inspections and work done on the Property at Buyer’s direction. 12. TITLE AND VESTING: A. Within the time specified in paragraph 14, Buyer shall be provided a current preliminary (title) report, which is only an offer by the title insurer to issue a policy of title insurance, and may not contain every item affecting title. Buyer shall provide written notice to Seller in accordance with and within the time specified in paragraph 14. B. 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 be subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other matters that are of record or disclosed to Buyer prior to Close Of Escrow, unless otherwise requested in writing by Buyer and agreed to by Seller within the time specified in paragraph 14. However, title shall not be subject to any liens against the Property, except for those specified in this Agreement. Title shall vest as designated in Buyer’s supplemental escrow instructions. THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEQUENCES. C. Buyer shall receive a CLTA/ALTA Homeowner’s Policy of Title Insurance, if available for the Property. If not, Buyer shall receive a standard coverage owner’s policy (CLTA or ALTA-R with regional exceptions). A title company, at Buyer’s request, can provide information about availability, desirability, coverage, and cost of various title insurance coverages and indorsements. If Buyer desires title coverage other than that required by this paragraph, Buyer shall instruct Escrow Holder in writing and pay any increase in costs. 13. SALE OF BUYER’S PROPERTY: A. This Agreement is NOT contingent upon the sale of any property owned by Buyer unless paragraph 138 is checked. OR B. Cl (If checked) This Agreement IS CONTINGENT on the Close Of Escrow of Buyer’s property, described as (address) (“Buyer’s Property”). (1) Buyer’s Property is: (a) Cl (if checked) not yet listed for sale. OR (b) Cl (if checked) listed for sale with company. OR (c) Cl (if checked) in escrow No. with escrow holder, scheduled to close escrow on (date). Buyer shall deliver to Seller, within 5 Days After Seller’s request, a Copy of the contract for the sate of Buyer’s Property, escrow instructions, and all amendments and modifications thereto. If Buyer fails to provide the documents within that time, Seller may cancel this Agreement in writing. If Buyer’s Property does not close escrow by the date specified in this paragraph for close of escrow of Buyer’s Property, then either Seller or Buyer may cancel this Agreement in writing. (2) After Acceptance: (a) (Applies UNLESS B (2)(b) is checked): Seller SHALL have the right to continue to offer the Property for sale. If Seller accepts another written offer, Seller shall give Buyer written notice to: (i) remove this contingency in writing; (ii) remove the loan contingency, If any, In writing; and (iii) comply with the following additional requirement(s): If Buyer fails to complete these actions within 72 (or Cl- ) hours After receipt of such notice, Seller may cancel this Agreement in writing. OR (b) q (if checked) Seller shall have the right to continue to offer the invoke the notice provisions in paragraph 13 B(2)(a) during the term ck-up offers only and shall not . . * ..‘,‘~ I . . . . The copyrrght laws of the United States (Title 17 U.S. Code) forbid the unauthorized reproduction of this form, or any portion thereof. by photocopy machine or any other means, including facsimile or computerized formats. Copyright Q 1991-2000, CALIFORNIA ASSOCIATION OF REALTORS@, INC. ALL BIGHTS RESERVED. REVISION DATE lo/2888 Print Date R MAY 91 RPA-11 (PAGE 4 OF 8) Buyer and Seller a Reviewed by Broker or Designee Date MASTER COFY Property Address: 33 VO Jy\ AD/S&d Date: i z-(0 -d / 14. TIME PERIODS;REMOVAL OF CONTINGENCIES;CANCELLATlON RIGHTS: The following time periods may only be extended, altered, modified or changed by mutual written agreement. A. ORDERING, COMPLETING AND REVIEWING INSPECTIONS AND REPORTS: (1) SELLER HAS: 5 (or 0 ) Days After Acceptance to order, request or complete all reports, disclosures and information for which Seller is responsible under paragraphs 4, 5, 6A, B and C, and 12. Seller has 2 Days After receipt (or completion) of any of these items to provide it to Buyer. Buyer has 5 (or 0 ) Days After receipt of (i) each of the above items and (ii) notice of code and legal violation under paragraph 6D to review the report, disclosure or other information. (2) BUYER HAS: 14 (or 0 ) Days After Acceptance to complete all Inspections, investigations and review of reports and other applicable information, including the sex offender database (paragraph 6E), for which Buyer is responsible. (3) BUYER HAS: 10 (or 0 ) Days. After Buyer’s receipt of Lead Disclosures pursuant to paragraph 5A, to complete Inspections for and review reports on lead-based paint and lead-based paint hazards. B. (1) APPROVAL OR REQUEST: Within the times specified above (or 2G for loan contingency), Buyer shall provide Seller with either(i) an unconditional approval and removal of the applicable contingency, or (ii) a reasonable written request that Seller Repair or take other action (or for loan contingency, cancellation if Buyer is unable to obtain the designated loan). (2) EFFECT OF BUYER’S REQUEST: If, pursuant to B(l), Buyer reasonably requests that Seller Repair or take other action, Buyer and Seller have 5 (or Cl ) Days After Seller’s receipt of Buyer’s request to reach mutual written agreement on Buyer’s request. If (i) Seller has agreed in writing to unconditionally and completely take the action requested by Buyer,or (ii) Buyer and Seller have reached a mutual written agreement with respect to those items, then the transaction shall proceed on those terms. Seller has no obligation, express or implied, to satisfy Buyer’s requests. (3) EFFECT OF NO WRITTEN AGREEMENT ON BUYER’S REQUESTS: If, at the expiration of the time in B(2), neither B(2)(i) nor (ii) has occurred, Buyer has 2 (or 0 ) Days to cancel this Agreement in writing. C. ACTIVE OR PASSIVE REMOVAL OF CONTINGENCIES AND CANCELLATION RIGHTS: (1) 0 ACTIVE METHOD (Applies only if checked): (a) (No written request or removal by Buyer) If, within the time specified in A, Buyer does not give Seller written notice pursuant to B(l), Seller may cancel this Agreement in writing. Notwithstanding the expiration of the time specified, Buyer retains the right to give Seller written notice under Bl at any time prior to receiving Seller’s written cancellation. Once Seller receives Buyer’s written request or removal, Seller may not cancel this Agreement pursuant to paragraph C(l)(a). (b) (No written cancellation by Buyer) If, within the time specified, Buyer does not give Seller written notice of cancellation pursuant to B(3), either Buyer or Seller may cancel this Agreement in writing at any time prior to Buyer and Seller reaching mutual written agreement with respect to any requests made pursuant to B( 1). (2) PASSIVE METHOD: If, within the time specified, Buyer does not give Seller (i) a reasonable written request pursuant to B(1) (or for loan contingency, cancellation if Buyer is unable to obtain the designated loan) or (ii) written notice of cancellation pursuant to B(3) if no agreement is reached on Buyer’s requests, then Buyer shall be deemed, as applicable, to have unconditionally approved and removed the contingency or withdrawn the request and waived any right to cancel associated with the requested item. D. EFFECT OF REMOVAL: If Buyer removes any contingency or cancellation right by the active or passive method, as applicable, Buyer shall conclusively be deemed to have: (i) completed all Inspections, 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 if the contingency pertains to financing, unless, pursuant to B(2) or elsewhere in this Agreement, Seller agrees to make Repairs or take other action. E. 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, less fees and costs, to the party entitled to the funds. 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 party 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 91057.3). 15. 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) Property is maintained pursuant to paragraph 7A, (ii) Repairs have been completed as agreed, and (iii) Seller has complied with Seller’s other obligations. 16. LIQUIDATED DAMAGES: If Suyer fails to complete this purchase because of Buyer’s default, Seller shall retain, as liquidated damages, the deposit actually paid. If the is a units, one of which Buyer intends t Property dwelling with no more than four no more than 3% of the purchase price. Any excess shall be instructions from both Buyer and Sel BUYER AND SELLER SHALL SIGN A DEPOSIT. (C.A.R. FORM RID-11) The copyrrght laws of the United States (T&/e 17 U.S. Code) forbad the unauthorized reproduction of this form, or any portion thereof, by photocopy machine or any other means, including facsimile or computerised formats. Copyright 0 1991-2009, CALIFORNIA ASSOCIATION OF REAFTORSQ 3NG. ALLRIGHTS RESERVED. REVISION DATE 10/2680 Print Date R MAY 01 RPA-11 (PAGE 5 OF 8) MAS-I ‘ER COPY Buyer and Seller a Buyer’s Ini Seller’s Ini Reviewed by Broker or Designee Date Property Address: Date: f 2 c (0 - of 17. 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. Paragraphs 178(2) and (3) below apply whether or not the Arbitration provision is initiated. 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 commences an action without first attempting to resolve the matter through mediation, or 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. B. ARBITRATION OF DISPUTkS: (1) 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, including andsubject to paragraphs 178(2) and (3) below. 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, who shall render an award in accordance with substantive California Law. In all other respects, the arbitration shall be conducted in accordance with Part Ill, Title 9 of the California Code of Civil Procedure. Judgment upon the‘award of the arbitrator(s) may be entered in any court having jurisdiction. The parties shall have the right ta discovery in accordance with Code of Civil Procedure 91283.05. (2) EXCLUSIONS FROM MEDIATION AND ARBITRATION: The following 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 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; (iv) any matter that is within the jurisdiction of a probate, small claims, or bankruptcy court: and (v) an action for bodily injury or wrongful death, or any right of action to which Code of Civil Procedure 3337.1 or 5337.15 applies. 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 violation of the mediation and arbitration provisions. (3) BROKERS: Buyer and Seller agree to mediate and arbitrate disputes or claims involving either or both Brokers, provided either or both Brokers shall have agreed to such mediation or arbitration prior to, or within a reasonable time after, the dispute or claim is presented to Brokers. Any election by either or both Brokers to participate in mediation or arbitration shall not result in Brokers being deemed parties to the Agreement. “NOTICE: BY tNITIALING 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 ARBlTRATlON AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GlVlNG UP ANY RlGHTS 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 AUTHORlTY OF THE CALI NIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBlTRATlON PR “WE HAVE READ AND UNDERSTAND OUT OF THE MATTERS lNCLUDED IN ARBITRATION.” 18. PRORATIONS OF PROPERTY TAXES AND OTHER I CURRENT and prorated between Buyer and Seller as of Close Of Esc eal property taxes and assessments, interest, rents, HOA regular, special, and emergency dues and assessments imposed prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and assessments assumed by Buyer, and payments on Mello-Roos and other Special Assessment District bonds and assessments that are now a lien. The following items 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. 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. 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. 19. WITHHOLDING TAXES: Seller and Buyer agree to execute any instrument, affidavit, statement or instruction reasonably necessary to comply with federal (FIRPTA) and California withholding Law, if required (C.A.R. Forms AS-11 and AB-11). 20. MULTIPLE LISTING SERVICE (“MLS”): Brokers are authorized to report the terms of this transaction to any MLS, to be published and disseminated to persons and entities authorized to use the information on terms approved by the MLS. 21. EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with federal, state and local anti-discrimination Law. 22. ATTORNEY FEES: In any action, proceeding, or arbitration between Buyer and Seller arising out of this Agreement, the prevailing Buyer or Seller shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or Seller, except as provided in paragraph 17A. 23. SELECTION OF SERVICE PROVIDERS: If Brokers give Buyer or Seller referrals to (“Providers”), Brokers do not guarantee the performance of any of those Providers. B own choosing. or product providers NY Providefi. of ZMr . . The ~pyr~ght km of the United States (Title 17 U.S. Code) forbid the ufmthorized reproduction of this form, or any portion thereof, by photocopy machine or any other means, including facsimile or comPuteri=-f formats. Copyright 0 1991~2000, CALIFORNIA ASSOCIATION OF REALTORS@, INC.Al.LAlGHTS RESERVED. Buyer and Seller ack REVISION DATE 10/2000 Print Date R MAY 01 RPA-11 (PAGE 6 OF 8) MASTER COPY Property Address: 33qo mm tsd Date: /k-(0 -0 1 24. TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time is of the essence. Ail 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 byevidecce 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. Neither this Agreement nor any provision in it may be extended, amended, modified, altered or changed, except in writing Signed by Buyer and Seller. 25. OTHER TERMS AND CONDITIONS, including ATTACHED SUPPLEMENTS: A. 0 Buyer’s Inspection Advisory (C.A.R. Form-BIA-11) B. 0 Purchase Agreement Addendum (C.A.R. Farm PAA-ll C. TFCCCA. 7h P.&w/PY, 26. DEFIN!TIONS: As used in this Agreement: A. “Acceptance” means the time the offer or final counter offer is accepted in writing by the other party and communicated in accordance with this Agreement or the terms of the final counter offer. B. “Agreement” means the terms and conditions of this Residential Purchase Agreement and any counter offer and addenda: C. “Days” means calendar days, unless otherwise required by Law. D. “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 1159PM on the final day. E. “Close of Escrow” means the date the grant deed, or other evidence of transfer of title, is recorded. If scheduled close of escrow falls on a Saturday, Sunday or legal holiday, then the close of escrow date shall be the next business day after the scheduled close of escrow date. F. “Copy” means copy by any means including photocopy, NCR, facsimile and electronic. G. “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. H. “Repairs” means any repairs (including pest control), alterations, replacements, modifications and retrofitting of the Property provided for under this Agreement. I. “Signed” means either a handwritten or electronic signature. J. Singular and Plural terms each include the other, when appropriate. K. C.A.R. Form means the specific form referenced, or another comparable form agreed to by the parties. L. “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 one to modify or alter the content or integrity of the Agreement without the knowledge and consent of the other. 27. AGENCY: A. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer understands that Broker representing Buyer m?y also represent other potential buyers, who may consider, make offers on or ultimately acquire this Property. Seller understands that Buyer may consider, make offers on or purchase other properties similar to the Properly. Buyer and Seller acknowledge and consent to Broker(sy representation of such potential buyers and sellers before, during and after Broker(s)’ representation of Buyer and Seller. B. CONFIRMATION: The following agency!elatio ships are h r by confirmed for this transaction: Listi Agent lPll?@ F-‘-&Q@ &dcr_cc .#.fq n/& e Seller exclusively; or Selling Agent c I??,/ 6 9 b+jR (Print Firm Name) is the agent of (check one): both the Buy r and Seller. h3A-B (Print Fim Name) (if not same as Listing Agent) is the agent of (check one): IX&$ Buyer exclusively; or Cl the Seller exclusively; or •i both the Buyer and Seller. Real Estate Brokers are not parties to the Agreement between Buyer and Seller. 28. JOINT ESCROW INSTRUCTlONS TO ESCROW HOLDER: A. The following paragraphs, or applicable poeions thereof, of this Agreement constl!ute the joint escrow instructions of Buyer and Seller to Escrow Holder, which Escrow Holder is to use along with any relating counter offers and addenda, and any additional mutual instructions to close the transaction: 1, 2, 4, i2, 138, 14E, 18, 19, 24, 25B and C, 26, 28, 30, 32A and 33. The terms and conditions of the Agreement not set forth in the specified paragraphs are additional matters for the information of Escrow Holder, but about which Escrow Holder need not be concerned. Buyer and Seller will receive Escrow Holder’s general provisions directly from Escrow Holder and will execute such provisions upon Escrow Holder’s request. To the extent the general provisions are inconsistent or conflict with this Agreement, the general provisions will control as to the duties and obligations df Escrow Holder only. Buyer and Seller will execute additional instructions, documents and forms provided by Escrow Holder that are reasonably necessary to complete this transaction. B. A Copy of this Agreement shall be delivered to Escrow Holder within 3 business days After Acceptance (or q ). Escrow will be deemed open when Escrow Holder has Signed an acknowledgement of receipt of a Copy of this accepted Agreement. 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 the Agreement. C. Brokers are a party to the Escrow for the sole purpose of compensation pursuant to paragraphs 30 and 32A. Seller hereby irrevocably assigns to Brokers compensation specified in paragraphs 30 and 32A from Seller’s proceeds, and irrevocably instructs Escrow Holder to disburse those funds to Brokers at Close Of Escrow. Compensation instructions can be amended or revoked only with the written consent of Brokers. 29. Buyer and Seller acknowledge and agree that : (a) Brokers do not decide what price Buyer should pay or Seller should accept; (b) Brokers do not guarantee the performance or Repairs of others who have provided services o legal, tax, insurance, title and other desired assistance from appropriate professiona The W?b?&t laws of the United States (Title 17 U.S. Code) forbid tfia unauthorized reproduction of this form, or any portion thereof, bY Photocopy n-d-he Or any other means, including facsimile or computerjzed formats. Copyright 0 6993-2000, CALIFDRNIA ASSOCfATION OF RMhTORS@, !NC.i%,l RIGHTS RESERVED. Buyer and Seller ack REVISION DATE 10/2008 Print Date R MAY 01 RPA-11 (PAGE 7 OF 8) Broker or Designee Date MASTER COPY ---_--__-___ -__--___ -- - --------_- .--- . . -- -- - -- _. Properly Address: 3 3 90 J)1A-D/Sb/J Date: f 2-10 -01 30. BROKER COMPENSATlON FROM BUYER: Upon Close Of Escrow, Buyer agrees to pay compensati to CrcrLb#&C , Broker. 31. TERMS AND CONDITIONS OF OFFER: This is an offer to purchase the Property on the above terms and conditions. All paragraphs with spaces . . for initials by Buyer and Seller are incorporated in this Agreement only d tmtlaled by all parties. If at least one but not all parties initial, a counter offer is required until agreement is reached. Unless Acceptance of 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 (date) , at ~ AM/PM. the offer shall be deemed revoked and the deposit shall be returned. Seller has other offer at any time prior to communication of Acceptance as above. Buyer to the above confirmation of agency relationships. If this offer is accepted and of Brokers’ compensation. This Agreement and any supplement, addendum or counterparts, all of which shall conktitute one and the same wriiing. BUYER Date (Print name) 1200 Carlsbad Village Drive (Address) 32. BROKER COMPENSATION FROM SELLER: Vista, CA 92008 A. Upon Close of Escrow, Seller agrees to pay compensation for sewices as follows: ‘7tq0 I to AwP,r.C -B~d./w32 I to (if checked) 0 an administrative/transaction fee of $ to (or, if not completed, as per listing agreement). , Broker, and , Broker, and Broker B. (1) If escrow does not close, compensation in 32A is payable: (I) upon Seller’s default if completion of sale is prevented by default of Seller; or (ii) when and if Seller collects damages from Buyer, by suit or otherwise, if completion of sale is prevented by default of Buyer and then in an amount equal to one-half of the damages recovered, but not to exceed the above compensation, after first deducting title and escrow expenses and the expenses of collection, if any. (2) In any action, proceeding or arbitration relating to the payment of compensation in 32A or 8. the prevailing party shall be entitled to reasonable attorney’ fees and costs, except as provided in paragraph 17A. 33; ACCEPTANCE OF OFFER: Seller warrants that Seller is the owner of this Properly, or has the authorii 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. 0 (If checked) SUBJECT TO AlTACHED COUNTER OFFER, DATED SELLER (Print name) Date SELLER (Print name) Date Agency relationships are confirmed as above. Real Estate Brokers are not parties to the Agreement between Buyer and Seller. Agent who submitted offer for Buyer acknowledges receipt of deposit, if any, if specified in paragraph 2A: Real Estate Broker (Selling Firm Name) BY Date Address Ph Real Estate Broker (Listing Firm Name) coc~ir/c& /YANk?YL By Address Ph L.--.-I- ) ACKNOWLEDGMENT OF RECEIPT: Buyer or authorized agent acknowledges receipt of Signed Acceptance on (date) (Initials) at - AM/PM. Escrow Holder Acknowledgment: Escrow Holder acknowledges receiljt of a Copy of this Agreement, (if checked, 0 a deposit in the amount of $ 13 counter offer numbers and , and agrees to act as Escrow Holder subject to paragraph 28 of thii Agreement, supplemental escrow instructions and the terms of Escrow Holder’s general provisions. The date of communication of Acceptance of the Agreement as between Buyer and Seller is Escrow Holder Escrow # Date BY Date Address Address Phone/Fax&mail Phone/Fax&mail- Escrow Holder is licensed by the California Department of q Corporations, [7 Insurance, 0 Real Estate. License # Escrow Holder is licensed by the California Department of q Corporations, [7 Insurance, 0 Real Estate. License # THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS@ (C.A.R.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDIT THIS FORM HAS BEEN APPROVED BY THE CALlFORNlAASSOClATlON OF REALTORS@ (CAR.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDIT ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON OUALIFIED TO ADVISE ON REAL ES ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON OUALIFIED TO ADVISE ON REAL ES TRANSACT!ONS. IF YOU DESIRE LEGAL OR TAX ADVICE. CONSULTAN APPROPRIATE PROFESSIONAL. TRANSACT!ONS. IF YOU DESIRE LEGAL OR TAX ADVICE. CONSULTAN APPROPRIATE PROFESSIONAL. This form is available for use by the entire real estate industry. It is not intended to identify the user as a REALTOM. 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. 1 Published and Distributed by: ’ REAL ESTATE BUSINESS SERVICES, INC. Reviewed by a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS@ c 525 South Virgil Avenue, Los Angeles, California 90020 Broker or Designee Date REVISION DATE 10/2000 Print Date R MAY 01 RPA-11 (PAGE 8 OF 8) MASTER COPY ____________ -__--.---- -- -------- - _--- -- -- -- - -- -_ BUYER’S INSPECTION ADVISORY RESIDENTIAL BROKERAGE 1 CALIFORNIA I ASSOCIATION ) OF REALTORS@ A. IMPORTANCE OF PROPERTY INSPECTION: 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 inspections of the Property personally and with professionals who should provide written reports of their inspections. 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 investigation, tests or inspections, 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, tests or inspections. 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 are within your diligent attention and observation. The purchase agreement gives you the right to inspect the Property. If you exercise these rights, and you should, you must do so in accordance with the terms of the 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 inspections or disclosed by Seller. If Seller is unwilling or unable to satisfy your requests, and you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the Agreement. If you do not timely and properly cancel the Agreement and if you do not perform on the contract because of the condition of the Proper&y, you may be in breach of contract. C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you all material facts known to him/her that affect the value or desirabiiity 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 inspections. D. BROKER OBLIGATIONS: Brokers do not have expertise and therefore cannot advise you on many items, such as soil stability, geologic conditions, hazardous substances, structural conditions of the foundation or other improvements, or the condition of the roof, heating, air conditioning, plumbing, 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 INSPECTIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE FOLLOWING: 1. GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS: Foundation, rooi, plumbing, heating, air conditioning, electrical, mechanical, securii, pool/spa, and 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 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, or civil engineers are best suited to determine square footage, dimensions and boundaries of the Property.) 3. PEST CONTROL: Presence of, or conditions likely to lead to the presence of wood destroying pests and organisms and other infestation or infection. (A registered structural pest control company is best suited to p inspections.) The copyright laws of In@ United States (Title 17 U.S. Code) forbid the unaulhonzed reproduction of this form, or any portion thereof, by photocopy machine or any other means, including facsimile or computerized formats. Copyright 0 1991-2000, CALIFORNIA ASSOCIATION OF REALTORS@, INC. ALL RIGHTS RESERVED Buyer acknowledges r REVISION DATE lo/2000 Print Date R MAY 01 BIA-11 (PAGE 1 OF 2) ?. 4 & q-f-F” &L< ,r “3 ;.-s ’ 7 CALIFORNIA BUYER’S INSPECTION ADVISORY ASSOCIATION OF REALTORS@ RESIDENTIALBROKERAGE A. IMPORTANCE OF PROPERTY INSPECTION: The physical condition of the ltind and impro ents being purchased is not guaranteed by either Seller or Brokers. For this reason, you should conduct th rsonally and with professionals who should provide written reports of their inspections. A general cover all aspects of the Property nor items affecting the Property that are not physically located commend further investigation, tests or inspections, including a recommendation by a pest control operator to Aspect in s of the Property, you should contact qualified experts to conduct such additional investigations, tests or inspections. 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 are within your diligent attention and observation. The purchase agreement gives you the right to inspect the Property. If you exercise these rights, and you should, you must do so in accordance with the terms of the 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 inspections or disclosed by Seller. If Seller is unwilling or unable to satisfy your requests, and you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the Agreement. If you do not timely and properly cancel the Agreement and if you do not perform on the contract because of the condition of the Property, you may be in breach of contract. C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you all 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 inspections. D. BROKER OBLIGATIONS: Brokers do not have expertise and therefore cannot advise you on many items, such as soil stability, geologic conditions, hazardous substances, structural conditions of the foundation or other improvements, or the condition of the roof, heating, air conditioning, plumbing, 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 profession4 selected by you. If Broker gives you referrals to such professionals, Broker does not guarantee their performance. You may sek+Any professional of your choosing. In sales involving residential dwellings with no more than four units, Brokers have a duty to make 6 diligent visual inspection of the accessible areas of the Property, and to disclose the results of that inspection. However, as some f roperly 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 INSPECTIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LlMlTED TO THE FOLLOWING: 1. GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS: Foundation, rooi, plumbing, heating, air conditioning, electrical, mechanical, security, pool/spa, and 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 APPROXlMATlONS ONLY, and have not been and cannot be verified by Brokers. Fences, hedges, walls, retaining walls, and other natural or constructed barrie$ or markers do not necessarily identify true Property boundaries. (Professionals such as appraisers, architects, surveyors, or civil engineers are best suited to determine square footage, dimensions and boundaries of the Property.) 3. PEST CONTROL: Presence of, or conditions likely to lead to the presence of wood ests and organisms and-other infestation or infection. (A registered structural pest control company is best suited to pe ‘.‘,’ The copyright ;aws O? tne iivW& States (Tit 2 IT 2 3. ;‘~ddi f~b~d iha unaulhorized reproduction d this farm. )t any p3C0n !nereof. by photocopy machine 01 ai?? tither rr;ea’%, ~w!W~g GKsmltz or c0mputerize.d formats. Copyrrght ,.D 7X31-2X0. S~LiFOFiNlA ASSOCIATION OF REALI3~W. INC. ALL W’WTS RESERWX. Buyer acknowledges r.6 Broker or Designee REVISION DATE 10/2000 Print Date R MAY 01 BIA-11 (PAGE 1 OF 2) BUYER’S COPY CALIFORNIA BUYER’S INSPECTION ADVISORY ASSOCIATION OF REALTORS* RESIDENTIAL BROKERAGE A. IMPORTANCE OF PROPERTY INSPECTION: 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 inspectionsof the Property personally and with professionals who should provide written reports of their inspections. A general physical inspect&36 typical&ges not cover all aspects of the Property nor items affecting the Property that are not physically located on the Property. If the pro&sk#ft&?&ommend further investigation, tests or inspections, 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, tests or inspections. .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 are within your diligent attention and observation. The purchase agreement gives you the right to inspect the Property. If you exercise these rights, and you should, you must do so in accordance with the terms of the 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 inspections or disclosed by Seller. If Seller is unwilling or unable to satisfy your requests, and you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the Agreement. If you do not timely and property cancel the Agreement and if you do not perform on the contract because of the condition of the Property, you may be in breach of contract. C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you all 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 dbligation 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 inspections. D. BROKER OBLIGATIONS: Brokers do not have expertise and therefore cannot advise you on many items, such as soit stability, geologic conditions, hazardous substances, structural conditions of the foundation or other improvements, or the condition of the roof, heating, air conditioning, plumbing, 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 INSPECTIONS 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, and 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. SGUARE FOOTAGE, AGE, BOUNDARIES: Square footage, room dimensions, tot size, age of improvements, and boundaries. Any numerical statements regarding these items are APPROXMATIONS ONLY, and have not been 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, or civil engineers are best suited to determine square footage, dimensions and boundaries of the Property.) 3. PEST CONTROL: Presence of, or conditions likely to lead to the presence of wood infestation or infection. (A registered structural pest control company is best suited to p ests and organisms and gther- ‘,‘, ‘,‘. . ‘ ,‘. The copyright laws of the unrred States (Title !? & S C&e) forbid the unauthorrzed reproductron of lh& form. or aq Doitiorl thereof, by photocopy mackne or any o:her mears, ~X/iiiiw~ facslm~te or computerized lormats. Copyrqht 0 1391-2005, CALIFORNIA ASSOCIATION OF REALTORS@, INC. ALL RIGHTS RESERVED REVISION DATE lo/2000 Print Date R MAY 01 Buyer acknowledges re Buyer’s initials 4 ,;’ , I( Reviewed by Broker or Designee Date BIA-11 (PAGE 1 OF 2) SELLER’S COPY Property Address: Date: / z-/r0 ,- 8 / 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.) 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 UTILITIES; 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 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 souices, and other substances, materials, products, or conditions. (Read the booklets “Environmental Hazards: A Guide for Homeowners and Buyers,” y Protect Your Family From Lead in Your Home,” or consult an appropriate professional.) 10. EARTHQUAKE AND FLOOD; HAZARD AND OTHER INSURANCE: Susceptibility of the Property to earthquake/seismic hazards and propensity of the Property to flood. These and other conditions including age of Properly may affect the availability and need for certain types of insurance. Since the time it may take to obtain certain types of insurance may vary, Buyer should not wait to explore these options. (An Insurance agent, Geologist, or Geotechnical Engineer is best suited to provide information on these conditions.) 11. BUILDING PERMITS, ZONING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certificates, zoning, other governmental limitations, restrictions, and requirements affecting the current or future use of the Properly, its development or size. (Such information is available through appropriate governmental agencies and private information providers. Brokers are not qualified to review, or interpret any such information.) 12. RENTAL PROPERTY RESTRICTIONS: Some cities and counties impose restrictions that may limit the rent, the maximum number of occupants, and the right 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. (Local government agencies can provide information about these restrictions and other requirements.) 13. 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 will not be in compliance with these requirements. (Local government agencies can provide information about these restrictions and other requirements.) 14. 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 governmental 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, 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. . ,‘.‘ ;’ . I , ;_ .’ ‘_ * ‘~’ Buyer acknowledges and agrees that Brokers: (a) do not guarantee the condition of the Property; (b) sha responsible for defects that are not known to Broker(s) or are not visually observable in reasonably and accessible areas of the Property; (c) have not verified square footage, representations made by others, information contained in Inspection reports, Multiple Listing Service, advertisements, flyers, or other pro material, unless otherwise agreed in writing; (d) do not guarantee the performance of others who have prov irs made by Seller uld pay or a seller By signing below, Buyer acknowledges receipt of a Copy of this docum Buyer Signature THIS FORM HAS BEEN APPROVED BY THE CALlFORNlAASSOClATlON 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 NATIONAL ASSOCIATION OF REALTORS@ who subscribe to its Code of Ethics. . I 81 Published and Distributed by: ’ REAL ESTATE BUSINESS SERVICES, INC. i subsidiary of the CALIFORNIA ASSOCtATtON OF REALTORS@ Reviewed by = c 525 South Virgil Avenue, Los Angeles, California 90020 Broker or Designee Date cr ECWL WY6 REVISION DATE 10/2OCKl Print Date R MAY 91 BIA-11 (PAGE 2 OF 2) NlASTER. COPY -.-- --..