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RRA - Item 7 - Mixed Use Property at 9734 Abilene Street
WALLIN, KRESS, REISMAN & KRANITZ LAW OFFICES 2800 TWENTY-EIGHTH STREET, SUITE 315 SANTA MONICA, CALIFORNIA 90405-6205 TELEPHONE 13101 450-9562 FACSIMILE 13101 450-OS06 TO: CHAIRMAN AND MEMBERS ROSEMEAD REDEVELOPMENT AGENCY MAYOR AND COUNCILMEMBERS CITY OF ROSEMEAD FROM: PETER WALLIN, REDEVELOPMENT AGENCY COUNSEL DATE: December 12, 2000 RE: Authorization to Acquire Mixed Use Property at 9734 Abilene Street, Rosemead, for a Purchase Price of $283,200. The subject property is adjacent to but located outside the project area for Redevelopment Project Area No. 2. However, it is within the site of the proposed Eaton Village. Robert McCoy entered into an escrow to acquire the property from Bernadette Quercio who resides and operates a dog kennel business thereon. The original sales price was $275,000 which was allocated $225,000 for the property and $50,000 for the cost of residential and business relocation. Mr. McCoy has not been able to finance the purchase price and his failure to, timely close escrow has caused Ms. Quercio to incur $8,200 in charges in connection with her escrow to acquire a replacement property. McCov has agreed to reimburse these additional costs through amendments to escrow: Ms. Quercio is still desirous of closing and has asked that the Agency bail her out of the situation. - We are advised by McCoy's attorneys that he will consent to have the Agency acquire the property with its funds as his nominee. Copies of the original escrow instructions and an unsigned amendment are enclosed. If the Agency acquires as nominee the terms of Quercio's sale to the Agency would be essentially identical: 1-rct5ase price (adjusted) of $283,200.00. DEC 12 2000 DEC x 2 L0010 ITEM 03. WA'LLIN. KRESS. REISMAN S KRANITZ LAW OFFICES Chairman and Members Rosemead Redevelopment Agency Mayor and Councilmen City of Rosemead December 12. 2000 Page 2 Waiver of relocation benefits and/or all other forms of compensation to which she might be entitled when acquired by a public agency. Quercio to lease back the property for four months, at $1.00 per month, to provide her time to complete improvements at the replacement location. The Agency would acquire the property free and clear of any rights or claims of McCoy to the property. An Agency can acquire property outside the project area upon the request of the City Council. This particular parcel, is integral to the proposed Eaton Village development, and would also be useful in a land assembly for any alternative commercial development at the northeast corner of Temple City Boulevard and Valley Boulevard. Recommendation: 1. That the City Council, by minute action, request the Agency to acquire the property. 2. That the Agency authorize acquisition of the property as nominee for a purchase price of $283,200.00, and authorize the Executive Director to execute escrow instructions and related documents to effect the transaction. DBC-06-2000 12:19pm From- T-404 P-002/015 F-999 FIRST AMENDMENT TO RESIDENTIAL PURCHASE AGREEMENT (ANA RECEIPT FOR DEPOSIT) THIS FIRST AMENDMENT TO RESIDENTIAL PURCHASE AGREEMENT (AND RECEIPT FOR DEPOSIT) ("First Amendment") is made and entered into as of this 10th day of November 2000, by and between BERNADETTE P. QUERCIO, as trustee of the Bernadette Paula Quercio Trust under Declaration of Trust dated March 21, 1997 ("Seller"), and ROBERT MCCOY, an individual, or assignee ("Buyer', with reference to the following recitals of fact: RECITALS A. Seller and Buyer entered into that certain Residential Purchase Agreement (and 'Receipt for Deposit) dated as of April 28, 2000 (the "Purchase Agreemeael) pursuant to which Seller. agreed to sell and Buyer agreed to purchase that certain real property located in Los County, California known as 9734 Abilene Street, and more particularly described in the Purchase Agreement. All capitalized terms used herein and not otherwise defined shall. have the same meaning set forth in the Purchase Agreement. B. Seller and Buyer now desire to amend the Purchase Agreement as set forth herein. NOW, THEREFORE, in consideration of the foregoing, and of the conditions, terms, covenants and agreements set forth herein and of other good and valuable consideration, the receipt and'sufticiency of which are hereby acknowledged, the parties hereto hereby agree that the Purchase Agreement is amended as follows: AGREEMENT 1. Closing. The Closing shall be 12000. 2. Credit. Upon the Closing, Buyer shall pay to Seller through escrow an amount equal to $6,200. 3. City Waiver. Concurrently with Seller's execution of this First Amendment, Seller shall execute and deliver to Buyer one (1) original of the Acknowledgement and Waiver Regarding Relocation Benefits and Just Compensation in the form anached hereto as Exhibit A ("City Waiver'). Delivery of the City Waiver by Seller to Buyer shall be a condition to Closing. 4. Lease. Upon the Closing, Seller and Buyer shall execute and deliver one (1) original of the Residential Lease, the form of which is attached hereto as Exhibit B. 5. Full Force and Effect. The Purchase Agreement is modified, amended and supplemented only to the extent set forth herein, and as so modified, amended and supplemented, shall retrain in full force and effect between Seller and Buyer. In the event of any conflict between the provisions of this First Amendment and those of the Purchase Agreement, the terms of this First Amendment shall prevail. 2027915702 Dec-06-2000 12:19pm From T-404 P.M/015 F-BBB 6. Counterparts. This First Amendment may be executed in several counterparts, each of which j be deemed to be an original, and all of which together shall be deemed to be one and the same instrument when each parry has signed one such counterpart. 7. Facsimile. This First Amendment may be delivered to Escrow and the Other Parry by facsimile transmission. IN WITNESS WHEREOF, the Parties hereto have executed this First Amendment as of the date first set forth above. "Seller" '.Buyer„ BERNADETTE P. QUIERCIO, As trustee of the Bernadette Paula Quercio Trust under Declaration of Trust dated march 21, 1997 R013ERT MCCOY, An individual, or assignee . 20279157v2 . -2- Dec-06-2000 12:i6pm From- T-404 P.004/015 F-29E FXHIBIT A CITY WAIVER I_xbibit A 20279157v2 Dec-06-2000 12:20pm From- T-404 P.005/015 F-988 ACKNOWLEDGEMENT AND WAIVER REGARDING RELOCATION BENEFITS AND JUST COMPENSATION THIS ACKNOWLEDGEMENT AND WAIVER REGARDLN G RELOCATION . BENEFITS AND JUST COMPENSATION ("Agreement") is trade as of November 10, 2000 by BERNADFTTE P. QUERCIO, as trustee of the Bernadene Paula Quercio Trust under Declaration of Trost dated March 21, 1997 ("Seller") with reference to the following recitals of fact: RECITALS A. Seller and Robert McCoy, an individual, or assignee ('Buyer") have entered into a Residential Purchase Agreement (and Receipt for Deposit) dated as of April 28, 2000, as amended by that certain First Amendment to Residential Purchase Agreement (and Receipt for Deposit) dated November 10, 2000 by and between Seller and Buyer ("Purcbase Agrecumat") concerning certain real property in the City of Rosemead, California ("Property"). B. Buyer has applied to the city of Rosemead, California ("City") and/or its Redevelopment Agency ("Agency") for assistance in redeveloping the Property together with other neighboring properties, which requested assistance would include use of the power of eminent domain to acquire properties for redevelopment or parking purposes. NOW, THEREFORE, in consideration of the payment of the purchase price by Buyer pursuant to the Purchase Agreement, Seller agrees as follows for the benefit of Buyer, the City and the Agency: AGREEMENT I. Seller acknowledges that it is aware that persons displaced as a direct result of acquisition of property for a public project have a right to be reimbursed for their moving expenses and to receive other relocation assistance and benefits pursuant to Government Code §7260 eT seq. unless waived. 2: Seller acknowledges that it is aware That when properly is acquired for a public project by eminent domain or in connection with inverse condemnation that the property owners and occupants are entitled to have the property appraised and ro have a jury determine the amount that constitutes just compensation for the property being acquired, including, but not limited to, compensation for the realty, for improvements pertaining to the realty and for any goodwill loss, unless waived. 3. Seller agrees That it has accepted the purchase price and other consideration -1- 2t1279158v l I Dec-06-2000 12:20pm From T-404 P.006/015 F-090 provided for in the Purchase Agreement as a full and complete settlement of any and all amounts to which it might be entitled were the property acquired by a public entity by eminent domain, inverse condemnation, or otherwise, including the value of the realty, of improvements pertaining to the realty, compensation for any goodwill loss anti for costs, attorneys fees, interest or other claims compensable in an eminent domain or inverse condemnation proceeding and including any claims for relocation benefits to which Seller might be entitled pursuant to Government Code Sections 7260 et seq. 4. Seller agrees that notwithstanding the potential for being compensated for relocation benefits and to have a jury determine just compensation as set forth above, SELLER, ON BEHALF OF ITSELF, HIMSELF, HERSELF, AND ITS, HIS AND HER SUCCESSROS AND ASSIGNS AGREES THAT IT IS INELIGIBLE FOR AND/OR DOES HEREBY FOREVER WAIVE, RELEASE, DISCHARGE AND DISCLAIM ANY AND ALL RIGHTS TO AND CLAIMS OF ANY NATURE WHATSOEVER, KNOWN OR UNKNOWN, CONTINGENT OR NUN-CONTINGENT, ANTICIPATED OR UNANTICIPATED, WHICH ANY OF THEM EVER HAD OR NOW HAS OR WILL HAVE AGAINST THE AGAINST BUYER, THE CITY, THE AGENCY OR ANY OTHER PUBLIC ENTITY INVOLVED IN ASSISTING BUYER IN THE ACQUISITION OR REDEVELOPMENT OF THE PROPERTY, AND THEIR SUCCESSORS AND ASSIGNS ("Released Parties"), ARISING DIRECLTY OR INDIRECTLY OUT OF OR BASED UPON, OR IN ANY WAY CONNECTED WITH: a. RELOCATION BENEFITS TO WHICH SELLER MAY BE ENTITLED UNDER GOVERNMENT CODE SECTION 7260 ET SEQ.; and b. JUST COMPENSATION FOR THE PROPERTY, INCLUDING CLAIMS FOR THE VALUE OF THE PROPERTY, IMPROVEMENTS PERTAINING TO THE REALTY, GOODWILL LOSS OR ANY OTHER CLAIMS COMPENSABLE IN EMINENT DOMAIN OR INVERSE CONDEMNATION PROCEEDINGS AND THE RIGHT TO HAVE SUCH CLAIMS APPRAISED AND TO HAVE A JURY DETERMINE THE AMOUNT OF SUCH CLAIMS (collectively, the "Released Claims"). 5. Seller acknowledges that it, he or she is familiar with and voluntarily waives any right or benefit arising from Section 1542 of the Civil Code of the State of California which provides as follows: "A general release dues not extend to claims which the creditor does not know or suspect to exist in his favor at the time of executing the release, which if known by him must have materially affected his settlement with the debtor." 20279158v1 Dec-06-2000 12:20pm Fron- T-404 P-007/015 --222 In connection with such waiver and relinquishment, Seller is aware that it, he or she, or its, his or her attorneys or agents may hereafter discover facts in addition to or different from those which the Seller now knows or believes to exist with respect to the subject matter of this Agreement, but that it is each Seller's intention to hereby fully, finally, and forever release all of the claims, disputes and differences, known or unknown, suspected or unsuspected, that any Seller may have or may hereafter acquire against any of the Released rein Partieffect as es, resulting a ffrom of in any way related to the Released Claims. This Agreement and complete release notwithstanding the discovery or existence of any such additional or different facts. Seller's initials: 6. Seller shall not commence, voluntarily aid, or prosecute, or cause to be commenced or prosecuted, against any of the Released Parries any action or proceeding in connection with or arising out of any Released Claim. 7. The term "successors" as used in this Agreement means successors, heirs, devisees, legatees, assiguees, nominees, parent, subsidiaries, atuated corporations, directors, officers, shareholders, agents, servants, employees, insurers and underwriters, and all persons acting by, through, under, or in concert with them, or any of them. 8. Seller represents and warrants to the Released Parties that it, he or she has not assigned or otherwise transferred any interest in any Released Claim and further agrees to indemnify, defend and hold the Released Parties harmless from any liability, claims; demands, costs, expenses, and attorneys' fees incurred as a result of any other party asserting any such right or claim under any such assignment or transfer given by Seller. 9. This Release shall be governed by and construed in accordance with the laws of the State of California 10. In the event that any of the Released Parties brings an action to enforce its rights under this Agreement, the prevailing parry in such action shall be entitled to an award of its reasonable attorneys' fees and costs. 11. This Agreement contains the complete and exclusive expression of the terms provided herein, which terms shall not be contradicted by proof of prior agreements or contemporaneous oral agreements, nor shall they be explained or supplemented by evidence of consistent additional terms. 12. This Agreement may be executed in one or more counterparts, each of which shall -3- 2O279159v1 Dec-06-2000 12:21pm From- T-404 P.006/015 F-096 be deemed an original. but all of which mgether shall constitute one and the same instrument. IN WITNESS WHEREOF, the Seller has caused tbis Agreement to be duly executed and delivered as of the date first written above. DATED AS Of November 10. 2000 BERNADETTE P QIJIERCIO, as Trustee of the Bernadette Paula Quercic Trust under Declaration of Trust dated March 21, 1997 -i- 20279158VI I Dec-09-2000 12:213m Frcu- 20279157v2 EXHIBIT B LEASE -4- T-404 P.009/015 F-999 1 Dec-06-2000 12:21pm From- RESIDENTIAL LEASE (Long Form) T-404 P.010/015 F-909 ' 1. PARTIES: 21st day of Noveol= . *10D9 This lease is made and entered into this Dy and Davidson Eat4L Village Sbcnoln9 Center LLC is Colieornia tad liabslat a Bernadette P. 011ercio, as Trustee of the BeM440cte P. Qoerelo (ha9rdana relafad 16 as "Landbrtl"1 and . Trust .rider Declaration of Trust datedIlarch 21 1997 (horatnaherreferredtoits - Tenant' 1 2. PREMISES: Landlord hereby 14491110 Tenant and Tenant Hereby team from Landlord, on Ina Wine; end conditions MfBinaher set forth. roar tenant real ptopeny and the residence located thereon 34116160 in lne City of ytosemead California County of tas Aagelea state of commonty known as 9734 Abilene Street lhy ~IIO1 Nrtlti 3. Too le ~1horlinstysta0 Tile term of this the LeCafO ah411 be for [our la) commencing as af ioae~$at Dmr e, as -1 and ending on the date vtticb is four fa 1 1. KENT: one (11 Tenant snail pay to Landlord of rent for the Prances. Ina Sum of li 1 dollars per month. in advance on ins first day Of each manln during IN Won 114lsdl. ibal snail De payaore without notice or demand and without any deduction. Off-Al. W ioalerllem in 14WW1 murrly of in* United States to the landlord at the 400tes6 stated herein her notices or m swch other persons or such other places as the Landiard may dmgnate 16 Tetlem in writing i L mouths after the Commencement Dote. The . term "Commencement Date" sball mean the same date as the "Close Of Escrow", as such term 3s defined in that certaln Resideatlal purchasw Agreement land Receipt for Deposit) dated April 28, 1000 by and between Tenant, as seller, and Robert NcCoyr Landlords . predecessor in interest, as amended. moicorts faem MP-119NOm1714AIir 04 I""I_/~ g M d)Ir,I aOI[DIIS IPC W+Paim; 7 Rn1IIflA re~Irl 0IN elan m"."I WMW mm IF ~ wpm m 1" ww" AI M wcivaoM 0 ""P"" wm We JWW" 10066M 0 ~Mp ~ 1YYI" "w mmawaso." 0 m w m 1"" Y mi A~ m w P✓0m Dec-00-2000 12:21pm From- T-404 P.011/015 F-alla 6. iEGURITy OHDRITr -D- Tenant Inall deposit wit" WAORDra upon the exacutlon yf this Leese me sum of -0- ) dollars u it murdy 40 Mail Air IN Tenants faithful performance of lM pfovlslens a this Lease. M Tenant tells 10 pay real y alder oaarges dw MteurAw. or moarense oetauns with respect to any provision of mla Law. Latldu rd may use the security down. or any P?I a It. N Curl tie action of eampe um Lan01o(a rot all 09=003 -VI tried by Landlord resulting tram Tenant's default Tenant suit IMMookltaly ere tlMur4 ply to L&ACAD a Ina sum equal to tut portion of me NWITy a0plalt eapendad of applied by Lardlera whicn was prov" for in this paragraph so as in maintain that security depnad in ale Win Initially deposited wit Landlord LuAlora snail not be required to kW IN Worry deposit Upa(!le tram at general account nor Mull Landlord N required to pay Tenant any Interest on the security aspoila. it TeMm perlortN an of Tenant's act long under this Lease, ins security aepelit or Mail parhon inMeof wmcn has nor previously coon applied by me Undlora. shall ce returned 10 Tenant within fourteen (14) days 41Nr me expiration at IN term of mils Leans. or after Tenant has vacated IN prertoull, WRICNvIf IS law b. 0 mfor any fNefM t,Thnol dthver possession at the Remises m Tenant at too c01olMnCOtMN of the term, the Landlord snap h tie Landlord not be lam Id Tenam for any IDse or damage resulting merefran, put hate Vol Do a proportionate aaauctlon of font; nor anall hire Lease De void Or VOODW for a pandit of NIA (10) days mereatIM and it tar any reason file Remlaea crones De tlNnrored within said tan 110) day period. the Tenant may, prior M Landlerd's dal Ivory of Me Rarroses. daclare Min Lease In nit Ault x110 void and all Money Dill M LAWorl stall as ratundea to Tenant 7. Ulf: . it is agreed ma) Me Ptemrses said be used only for rtsrdened purposes, tar all family consisting of one adultiana m ehoaran. Ina no anima i. I N IM no olMr purposes witatsaevor. Team in nit possession, use arm occupancy of the Premises agrees to opaerve area comply wren all re6MI(NM, laws area ordinances of wing said property or occupancy thereof: end Tenant furtnef agrees Vol no use shaft nit Mile of the Premises, nor acts dote which will increase Vol existing rate of insurance upon tae promises. or will cause a Oahctllation at IN alsurance Palley covering ins.Remise& 4. UTIUTIE$: The Tenant shall pay for all water Supplied to ter Premises and shall pay lot as gas. 110311, light, power. IeNpnons service, and olhar servwm supplied w ell Priumaes. except as herein provided. S. RIPAIRb AND MAINTENANCE: Tns Landloo shall It Its sob Cost and e01115C Meep Ana mamµln me @AUIDr walla, 1001, ebClfical wiring. Mating system. err condn omng system pf any), water neater, own-in ipplarim. and water nMS in good an sanitary order, cannon. and repair, except wnare damage (d any) has been caused by the amuse or nagugance of the Tenant, in which event Tenant, shall repair same at his sae cost and expense. Except as Asian provided. Tenant NrODy egrets that Ina Premises are now in a tonanUate ono good conammn all snail at his solo toll arc 01P41114 seep Ina maintain the Remises. appurtenances and every part thereon. m me manner in which Thai were received. reasonable wear and tear axcepte0, including nousehold lurrature, tralures, goods and tua0ls Doldniging to IN LaficlOrd. sat mat Moir shall remain in gb0d- and Satisfactory order. condition all repair. The Tenant agrees to maintain landscaping, swimming pax (a any) and Teoam agree to adequalery water Said landscaping Dec-06-2000 12:22pm From- T-404 P.012/O1S F-699 It. ALTERATIONS AND ADDITRINS: Tenant shall nut. without Its Landlard's prior written consent. make any ailerabbns, rmprOVemnis or ada4ions in or atout its Premises and and any additions Toe Tenant shall keep a Premises licent m ny 1 ensarris arising out atu nyswolrktperformed. matena s turn shah or ob flao0ns incurred by ins Tenant. if. HOLD HARMLESS: Tenant snail indemnify and hold Landlord harmess from and against any and all claims arising from Tenant s use at occupancy of me Premises or from any acavoy. work. Or things which may be parmrned of suffered by Tenant in or adoul me Premises including all damages. costs. attorneys Ices. eApensos and tiatklmlss incurred in is defense of any Claim or action or proceeding arising iheretrom. Except tar Landlord's wrdtul or grossly negligent conduct. Tenant hereby assumes all risk OI damage to properly, including household furniture and goods. or injury to person in or about the Premises from any cause' and Tenant hereby waives 411 caims in respect thereof against Landlord 12. DAMAGE 70 PREMISES: (a) it the Premises are So Oamageo by fire or from any inner cause as to render if untenamable. then either party snail nave the rignl 10 terminate his Lease as of the calls an which such damage occurs. hrougn wrmen notice to Inc other party. 10 pe given within fihean (IS) days after Inc occurrence of such damage. except mal snoulo such damage or destruction occur as the result of the amuse of negligence at Tenant. or its Invitees. so as l0 render ins Premises um enantade. free Landlord only shall nave this rignl of Iermonaipin. Should this fight be exercrsea by either Landlord or Tenant. Inen rem tar toe current monm snail po prorated oetween ine panisa As or Ina dale an winch such damage occurred and any prepaid rent and unused security deposit shall rte refunded IO Tenant. to I II tins Lsase is not terminated as provided in this paragraph 13. the Landlord snail promptly repair Ise Premises and there small be a propomo Imo reduction M rent until Inc Premises are spaded and ready for Tenant's occupancy. such proponionalc reduction 10 be based upon Inc axis to which the making of repairs interferes wnn Tenant's reasonable use OI ins Premises. 13. ASSIGNMENT AND SUBLETTING: Tenant snal' nor voluntarily or by operation of law assign. transfer. subicl. mortgage, or otherwise transfer or nCumbef all or any part of Tenants intelesi in this Lsase or in ine Premises wilnOul Landlord's prior written Consent which consent shall not be unreasonably wiinnaid ins consent td One assignment Or subletting shall not or Construto as Consent to any subsedutnl assignment or swooning 14. DEFAULT: It is agreed between iris parties nerno anal it any not snit pig dull hereunder and unpaid, or d Tenant Stan default and ouch any omer maintain his Lea e in lull forte persons therefrom in ins marinet allowed by law The Landlord wmay. at its option. re-emer ins Premises and Anor provisn Of d any and all lite p Opony covenant or. due COM ges and Char native recover allaentallss and any oferil the,damagal and pursue any oth r r gn s and remeales`wnicn iA Lan010This ay nor a against dins 7enaiii y reason Of Such delauil as provided by law 1s. ABANDONMENT: Tenant shall nor vaf:ale Of abandon ins Remised of any hale during the 1111 101 Ina Lease 16. ENTRY BY LANOLORD: The Tenant Shan permit Inc Landlord 4111110f its Agents to enter into IN upon iris Premises al all reasonable limes and upon reasonable "auto for Its purpose of inspecting t or for ino purpose of maintaining me Premiss. or IN the purpose of ashubitong me Promises to prospective, purchasers Or tenants. 17. ATTORNEY'S FEES: d caner party cbmmenus in action against too offer parry onsing out or or in connection with Iris Lease, the prevailing pally stn as entmed to nave and recover from me losing party rusonatue attorney's Nee and costs of aunt It. SURRENDER: 04 iris last day of the term Of this Luse. Tenant shall surrender Ise Premises to Landlord in good condition. broom clean, ordinary wear and der and damage by fire and The ailments Wfloted. 13,000 per zonal 16. HOLDING OVER: rl Tenant. wltM1 ine LanON(p'S cOflsenl, remains in paltlessen of Ina Primus after saprtill or Isiminaben of Inc farm of true Lea of such VOSesSMA by Tenant Dell oe deemed TO Ile a tenancy from nsnin-Id•monlh at arental in the amount of PA just molowily Scale, plus sit ot charges payola hereunder, and upon All iris provisions Of this Lsase applicable to auto A mOntNib•hlonh tenancy. SO. SINDINO ON SUCCESSORS AND ASS10N6f - Each provision of Ills Lease perlarnfab0 by Tenant start oe doomed will a covenant end a condition The terms, Conditions and covenants of flus Leese shall be binoing upon and shall inure to Ins densllt of each of the Wits nerclo, their heirs. personal represimatives. successors and aeolons . Dec-06-2000 12:22pm From- T-404 P.013/015 F-929 tt under this Lease a provision is fftage to any demand, notice or OlClagtion of any gala. it snap he in wrung and served enner Whenever er personally or sent oy registered or coreied United Stales mad. postage pfepaia. addressed at the address as set torn Oeiow: TO LANDLORD AT ~.§§0T uth fps Angeles Street auu.a 30 _ Igo Angeles, C l i r nrn)-a W114 TO TENANT AT The Yreteises SuCA notice small oe deemed to he recerveo within tarty-opal (411) ngurs tram roe lime at mailing. if mailed is provided Ior in Ims paragraph 21. WAIVERS: No waiver py I.Mlora dl any provision nereol shall G aeemed 4 waiver of any other provision MRot or of any suosequent orcacn Dy Tenant of Inc same or any Other provisions ii. TIME' Time is at Inc essence at tnts Lease. t4. JOINT AND SEVERAL OBLIGATIONS: .-Pany', shah man Landlord and Tenant: and it mart ln8n one person or entity isthe Langford ar Tenadl. the Wig4tions rmposso on the parry shall be joint ano several G HTenant ~aaFq;hlal Tenant small not imtn De in (lelium nefW nicer. T011ag1 snail nave the option to ff7ileM Inc term of ln6 Lease tar aeallianal _ (moron /year) poriaes upon Ire same forms and tondnions heron contained. eatopt for fixed minimum rrtaalhly rental. upon derive 00101 10 Landlord of wrmen notice of its election to exe(c1Se such opiwnts)at least sixty (50) gays prior to Inc expiration of me original (or We parent. The pames warto shall (lave thirty 1301 days alter me Lan0lord rBCaivts Ina option notice in wma to agree on the minimum monthly to ring tale extended IerNl(s). It the Dames apse on me minlmgm monthly stiff lot the extended termts) during that pofiad. May snail immediately t ran amendment to Ims Lease stating me minimum monmly rent In Ins event mat mere is more loan one option w wona the form of Mrs Lease. 1 its Mnla snail negotiate the minimum mommy rem as set lain Mrain lot each extended term ot lnis Lease II the parties nerow are 1014114 110 agf t nvmmum monthly rant for Ire extended term(s) within Baia thirty (30) day period, Ina option notice shin all a) no effect and this Lease snag expir end at Inc term. Neilner party Id mis Luse sham nave trio signs to have a roan or other IDao party sit the minimum monthly rent. Trio panies. herem Mve executed this Lease on me dare first eDOve written LANDLORD: TENANT. Yaton Village Sboppl.ng Canter, 16C, By a California Lir+lted liability coePanY By: Bye Hama; Title; Dec-06-2000 12:23PM Fron- T-404 P.014/015 F-600 ASSIGNMENT AGREEMENT THIS ASSIGN MENT AGREEMENT. CAS4WItucnt") is made and entered into as of this 11th day of November 2000, by and among BERNADETTE P. QUERCIO, as trustee of the Bemadette Paula Quercio Trust under Declaration of Trust dated March 21, 1997 ('-SeUer" ROBERT MCCOY, an individual (°MeCoy'l, and EATON VILLAGE SHOPPING the CENTER. LLC, a California limited liability company ("Eaton Village") with following recitals of fact: RECITALS A_ Seller and McCoy entered into that certain Residential Purchase Agreement (and Receipt for Deposit dated as of April 28, 2000, as amended by that certain first Amendment to Residential Purchase Agreement (and Receipt for Deposit) dated as of November 10, 2000 between Seller and McCoy (collectively, the "Purchase Agreement") pursuant to which Seller agreed to sell and McCoy agreed to purchase that certain real property located in Los County' California known as 9734 Abilene Street, and more particularly described in Purchase Agreement. B_ " McCoy now desires to assign the Purchase Agreement to Eaton Village asset forth herein, and Seller desires to consent to such assignment. NOW, THEREFORE, in consideration of the foregoing, and of the conditions, terms, covenants and agreements set forth herein and of other good and valuable consideration, The receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: AGREEMENT A55tnnnlititlConsent. McCoy hereby assigns its interest in the Purchase 1_ Assignment and AgreemenT to Eaton Village. Eaton village hereby accepts Bitch assignment of the Purchase Agreement from McCoy. Seller hereby consents to the assignment of The Purchase Agreement to Eaton Village and assumption of the Purchase Agreement by Eaton Village as provided herein, and hereby releases McCoy from all liabilities, claims and obligations under the Purchase Agreement. 2. Full Force and Effect. The Purchase Agreement shall remain in full force and effect between Seller and Eaton Village. 3. Counterparts. This Assignment may be executed in several counterparts, each of which shall be deemed to be an original, and all of which together shall be deemed to be one and the same instrument when each party has signed one such counterpart. 20279151v1 1. Dec-06-2000 12:23pm From- T-404 P.015/015 F-099 4. Facsimile. This p,asignmeat may be delivered to Escrow, as defined in the Purchase Agreement, and the other patty by facsimile uansmission. IN WITNESS WHEREOF, the parties hereto have executed this Assignment as of the date first set forth above. "Seller" "McCoy'' BERNADETTE P. QUERCIO, ROBERT MCCOY, AS trustee of the Bernadette Paula An individual Quercio Trust under Declaration of Trust dated March 21, 1997 "Eaton Village" EATON VILLAGE SHOPPING CENTER, LLC, a California limited liability company By: Name: Robert McCoy Its: 20279151v1 -2 - 1 Fidelity National Title Company 601 S. Figueroa Street, Suite 2130 • Los Angeles, CA 90017 (213) 689-9301 FAX (213) 689-9330 SALE ESCROW INSTRUCTIONS Date: July,20, 2000 Escrow No.: 99342-MV Escrow Officer: Mary Venia TO: FIDELITY NATIONAL TITLE INSURANCE COMPANY Buyer will execute a new First Deed of Trust to record in the amount of $ 275,000.00 TOTAL CONSIDERATION $ 275,000.00 this escrow is entered into pursuant to that certain Residential Purchase Agreement (and Receipt for Deposit) dated April 28, 2000; and Counter Offer dated July 5, 2000, hereinafter referred to as the " Agreement copy of 'which is attached hereto and made a part hereof identified as EXHIBIT A, by and between BERNADETTE P. QUERCIO, Trustee as Seller and ROBERT E. MCCOY , or Assignee, as Buyer, and you are authorized to act thereunder insofar as closing escrow is concerned. . However, you are to be concerned with those portions of the Agreement which involve conditions and/or payments and documents customarily handled by Escrow Holder, including, without limitation, portions pertaining to financing, escrow, allocation of costs, title and vesting; prorations, property - taxes, time periods, broker's commission and such other terms and conditions as may be applicable to Escrow Holder. Parties agree to sign any additional instructions, documents and/or forms which are necessary to complete this transaction. We further agree that to the extent there is any inconsistency between the Agreement and these Escrow Instructions, including the General Provisions attached hereto and made a part hereof, these instructions shall control as to Escrow Holder; however, as to the parties, the Agreement shall be controlling and these instructions do not supersede the Agreement as to the parties. We authorize you to order the necessary documents and demands to provide title insurance and complete this transaction as contemplated in the Agreement. We further authorize you to forward copies of inspection reports received by you to us for review and to comply with any lender's instructions you may receive. You are instructed to mail forms, documents and other items to the entitled parties at the address set forth in the above mentioned Agreement or as provided by Agent. AND, on or before September 29, 2000, Escrow Holder will be handed additional funds and/or instruments required to enable Escrow Holder to comply with these instructions, which Escrow Holder is instructed to use when in a position to procure/issue a CLTA Standard Policy - 1990 Form coverage form Policy of Title Insurance from Fidelity National Title Insurance Company with a liability of $275,000.00, covering the following described property located in the City of Rosemead, County of Los Angeles, State of California: LOT 5 OF TRACT 14715, IN THE CITY OF ROSEMEAD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 327, PAGES 3 THROUGH 5 INCLUSIVE OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. (`n!i ifl0 ri to he 8 t(tlB r-?F'r) C^(((:^t SELLER/TRANSFEROR STATES THAT PROPERTY ADDRESS IS t:;~~~y c+5y;~ -e sanx t~Oears in our 9734 Abilene Street, Rosemead, CA 91770. files. SHOWING TITLE VESTED IN: ROBERT E. McCOY, or Assignee f=1L1ELllY \ NAL TIT . FREE FROM ENCUMBRANCES EXCEPT: .1. Current general and special taxes for the fiscal year in which this escrow closes, and taxes for the ensuing year, if any, a lien not yet due and payable; 2. The lien of supplemental taxes, if any, assessed pursuant to the provisions of Chapter 3.5 (commencing with Section 75),of the Revenue and Taxation Code of the State of California; 3. Bonds and Assessments with no delinquent payments, if any; 4. Covenants, conditions restrictions, reservations, easements and rights of way now of record, if any; 5. A First Deed of Trust, to record, securing a note in the amount of $275,000.00 in favor of a lender of Buyer's choice to be determined during escrow. Continued on fallowing page inltiai Date: July 20, 2000 Escrow No:' 99342-MV GENERAL INSTRUCTIONS TO ESCROW HOLDER.': 1. FOR CLARIFICATION PURPOSES: July 07, 2000 Acceptance Date July 20, 2000 Opening Escrow Date Aug 04, 2000 Loan Contingency Expires Aug 04, 2000 Inspection Contingency Expires Sept 29, 2000 Close of Escrow Date Page 2 2. AGREEMENT SIGNATURES: By signing these instructions, Buyer and Seller hereby acknowledge and confirm with Escrow Holder that the attached Exhibit A referenced hereinabove, is acknowledged in its entirety as if their original signatures and/or initials appeared thereon, and hereby approve for use in this transaction. 3. AGREEMENT ITEMS OF WHICH ESCROW IS TO BE CONCERNED ARE AS FOLLOWS: Purchase Agreement Items 1A, 1C, 1E, 1F, 4A, 48, 4C, 4D, 8A, 8B, 14 and 31; Counter Offer items 1, 3, 4; 5 and 7. 4. ALLOCATION OF PURCHASE PRICE TO BE: $225,000.00 Real Property $ 50,000.00 Relocation costs of.business and residence $275,000.00 Total Consideration 5. BUYER'S DEPOSIT: Buyer's initial deposit in the amount of $2,750.00 shall be held uncashed by Escrow Holder until escrow is in receipt of, these instructions mutually signed by buyer and seller. 6. DOCUMENTARY TRANSFER TAX, County and City ( if any), is to be calculated on the amount of $2~5,000.00 Real Property value established hereinabove cost of which is to be at the expense of Sell',er. 7. THIS TRANSACTION IS CONTINGENT UPON BUYER OBTAINING A NEW 1ST LOAN: Buyer to obtain and property to qualifying for a new conventional First trust deed loan securing a note in the amount of $275,000.00 in favor of lender of buyer's choice. Said loan to be at the best prevailing rate and terms. Buyer's signature on lender's documents shall be deemed their approval and acceptance of the terms and conditions of said new loan and Escrow Holder's authorization to comply with lender's requirements. 8. DEMANDS TO PAYOFF EXISTING LOAN(S) OF RECORD: Seller to provide Escrow Holder with information to order demand statement(s) for payoff of existing loan(s) of record. Seller to keep loans current during escrow period. Seller is aware that interest on the existing loan(s) does not stop accruing at close of escrow, but continues until the actual day of receipt of the payoff by Lender. Seller is aware that interest will accrue through weekends or holidays. Seller is aware he/shelthey are responsible for payment of all of such interest and will indemnify and hold Escrow Holder harmless in .connection with the payment of such interest. 9. TAX DEFERRED EXCHANGE: Seller to advise escrow as soon as possible with the name of an Exchange Accommodator in the event Seller elects to pursue a tax deferred exchange. Buyer agrees to cooperate with Seller in a tax deferred exchange without additional cost to Buyer. 10. BY SIGNATURE HEREON, BUYER AND SELL ACKNOWLEDGE THEY HAVE EACH OBTAINED THE PROFES SION A LADVIC E AND COUNSEL OF AN ATTORNEY, ACCOUNTANT OR OTHER TAX SPECIALIST'S OPINION CONCERNING THE EFFECT OF THIS LAW ON THIS TRANSACTION AND SHOULD NOT ACT ON ANY STATEMENTS MADE OR OMITTED BY THE ESCROW OR CLOSING OFFICER. 11. RELEASE OF FUNDS TO SELLER: Escrow Holder to be provided with further mutually signed escrow instructions as to when the release Of $10,000.00 to Seller is to occur as referenced in Counter Offer Page 2 Item 7. 12. BUYER AND SELLER ACKNOWLEDGE THAT ORDINANCE REQUIREMENTS MAY AFFECT THE TRANSFER OF OWNERSHIP OF SUBJECT PROPERTY. BUYER AND SELLER SIGNATURE ON THESE ESCROW INSTRUCTIONS SHALL BE DEEMED EVIDENCE BY ESCROW HOLDER THAT THEY WILL COMPLY WITH SAME OUTSIDE ESCROW AND NOT A MATTER OF WHICH ESCROW IS TO HAVE ANY RESPONSIBILITY AND/OR LIABILITY. 13. Buyer acknowledges deposit of balance of funds to close escrow to be in the form of wire transfer, certified check, cashieri's~cheekfor'-tel)@r'S dh'cck`OY4aFiWrfof-~idelity National Title Company pursuant to the "Deposit of Funds,'!:;,Paragrraph:-1tfContb/ihod=irw°t0b)(54Jferal Provisions attached hereto and made a part hereof Ii1~5. F,,± Continued on following page " Date: July 20, 2000 Escrow Ne: 99342-MV - Page 3 14. The undersigned hereby authorize and instruct Escrow Holder to charge each party to the escrow for their respective Federal Express, special mail handling/courier and/or incoming/outgoing wire transfer fees) Unless specified in writing by the undersigned, Escrow Holder is authorized to select special ,mail/delivery or courier service to be used. Wire services required by the parties herein or by their individual lenders will be charged at twenty dollars ($20.00) per wire, incoming and outgoing. 15. AS A MATTER OF MEMORANDUM ONLY AND MUTUAL AGREEMENT BETWEEN BUYER AND SELLER OF WHICH ESCROW HOLDER HAS NO CONCERN OR RESPONSIBILITY: Seller shall cooperate with Buyer and execute documents as delivered by Buyer which may be required for Governmental approval and/or take such other actions that Buyer in the exercise of his sole discretion, may deem necessary, expedient or appropriate for obtaining any entitlements or approvals related to Buyer's proposed development of property. THE FOREGOING INSTRUCTIONS AND THOSE "GENERAL PROVISIONS" ATTACHED HERETO AND MADE A PART HEREOF ARE APPROVED AND ACCEPTED IN THEIR ENTIRETY AS FULLY SET OUT IN THIS PARAGRAPH: EACH OF THE UNDERSIGNED BUYER(S) HEREBY AUTHORIZE ESCROW AGENT TO FURNISH COPIES OF CLOSING STATEMENTS TO LENDER AND/OR BROKER INVOLVED. BUYER'S SIGNATURE. Robert E. McCoy, or Assignee MAILING ADDRESS: FORWARDING ADDRESS: I/W~ HAVE RECEIVED A COPY OF THESE INSTRUCTIONS. SELLER'S SIGNATURE: Al A gBernadete ercio, e of the Bernadette Paula Quercio Trust under Declaration of Trust.dateeddcMarch 21, 1997 //"~J~^{ 9 MAILING ADDRESS: 6zi ge, s-/, FORWARDING ADDRESS: T >L I V rGa d/a (0 END OF INSTRUCTIONS. fn he a trLl qn(i con-pet -pi ) ears in our Ili'"~, 4~./~~.~e~~..~-( • IUELI IItATI~'ONAL TITLE Continued on following page i Date: July 20, 2000 Escrow ND:' 99342-MV GENERAL PROVISIONS 1.. DEPOSIT OF;FUNDS - . The lays dealing with the disbursement of funds requires ` that all funds be available for withdrawal as a matter of right by the. title entity's escrow and/or sub escrow account prior to disbursement of any funds. Only cash or wire transferred funds can be given , immediate availability upon deposit. Cashier's checks, teller's checks and Certified checks may be available one business day after deposit. All other funds such as personal, corporate or partnership checks and drafts are subject to mandatory holding periods which may cause material delays in disbursement of funds in this escrow. In order to avoid delays, all fundings should be wire transfer. Outgoing wire transfers will not be authorized until confirmation of the respective incoming wire transfer or of availability of deposited checks: All funds received in this escrow shall be deposited with other escrow funds in a general escrow account or accounts of Fidelity National Title Company, with any state or national bank, or savings and loan association (the "depository Institution") and may be transferred to any other such general escrow account or accounts. The parties to this escrow acknowledge that the maintenance of such escrow accounts with some depository institutions may result in Escrow Holder's being provided with an array of bank.services, accommodations or other benefits by the depository institution: Escrow Holder or its affiliates also may at to enter into other business transactions Willi or obtain loans for investment or other purposes from the depository. institution. All such services, accommodations and other benefits shall accrue to Escrow Holder and Escrow Holder shall have no obligation to account to the parties to this escrow for the value of such services, accommodations or other benefits. - - Said funds will not earn interest unless the instructions otherwise specifically state that funds shall be deposited in an interost-bearing account. All disbursements shall be made by check of Fidelity. National Title Company. The principals to this escrow are hereby notified that the funds deposited herein are insured only to the limit provided by the Federal Deposit Insurance Corporation.' Any instruction fof bank wire will provide reasonable time or notice for Escrow Holder's compliance with such instruction. Escrow Holder's sole duly and responsibility shall be to place said wire transfer . instructions ryith its wiring bank upon confirmation of (1) satisfaction of. conditions- precedent or (2) document recordation at close of escrow. Escrow Holder will NOT be held responsible for lost interest due to wire delays caused by any bank or the Federal Reserve System, and recommends that all parties make themselves aware of banking regulations with regard to placement of wires. In the event there is insufficient time to place a wire upon any such confirmation or the wires have closed for the day, the parties agree to provide written instructions for an alternative method of disbursement. WITHOUT AN ALTERNATIVE DISBURSEMENT INSTRUCTION, FUNDS WILL BE HELD IN TRUST IN A NON-INTEREST BEARING ACCOUNT UNTIL THE NEXT OPPORTUNITY FOR WIRE PLACEMENT. To the extent provided by law, if for any reason funds are retained or remain in escrow following the close of escrow, you are to deduct therefrom a reasonable monthly charge as custodian thereof of not less than $10.00 per month. 2. PRORATIONS AND ADJUSTMENTS All proralions and/or adjustments called for in this escrow are to be made on the basis of a thirty (30) day month unless otherwise instructed in writing. You are to use information contained on last available tax statement, rental statement as provided by the Seller, beneficiary's statement and fire insurance policy delivered into escrow for the proralions provided for herein. 3. SUPPLEMENTAL TAXES The within described property may be subject to supplemental real property taxes due to the change of ownership' taking place through this escrow. Any supplemental real property taxes arising as a result of the transfer of the property to Buyer shall be the sole responsibility of Buyer and any supplemental real property taxes arising prior to the closing date shall be the sole responsibility of the Seller. TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED DIRECTLY BETWEEN BUYER AND SELLER. 4. UTILITIES/POSSESSION Transfer of utilities and possession of the premises are to be settled by the parties directly and outside escrow. 5. PREPARATION AND RECORDATION OF INSTRUMENTS . Escrow Holder is authorized to prepare, obtain, record and deliver the necessary instruments to carry out the terms and conditions of this escrow and to order the policy of title insurance to be issued at close of escrow as called for in these instructions. Close of escrow shall mean the date instruments are recorded. 6. AUTHORIZATION TO FURNISH COPIES You are authorized to furnish copies of these instructions, supplements, amendments, notices of cancellatogilandl rjlpsiR R statements, to the Real Estate Broker(s) and Lenderfs) named In tki escrow. J 7, RIGHT OF CANCELLATION, o)v 9. Continued on following page Any principal instructing you to cancel this escrow shall file notice of cancellation in your office in writing.. You shall, within two (2) working days thereafter, deliver, one copy of such notice to each of the other principals at the' addresses stated in this escrow. UNLESS WRITTEN OBJECTION TO CANCELLATION IS FILED IN YOUR OFFICE BY A PRINCIPAL WITHIN TEN (10) DAYS AFTER DATE OF SUCH MAILING, YOU ARE AUTHORIZED TO COMPLY WITH SUCH NOTICE AND DEMAND PAYMENT OF YOUR CANCELLATION CHARGES. It written objection is filed, you are authorized to hold all money and instruments in this escrow and lake no further action until otherwise directed, either by the principals' mutual written instructions, or by final order of a court of competent jurisdiction. 8. PERSONAL PROPERTY No examination or insurance as to the amount or Payment of personal property taxes is required unless specifically requested. By signing these General provisions, the parties to the escrow hereby acknowledge that they are indemnifying the Escrow Holder against any and all matters relating to any "Bulk Sales" requirements, and instruct Escrow Agent to proceed with the closing of escrow without any consideration of matter of any nature whalsoever'regarding "Bulk Sales" being handled through escrow. 9. RIGHT OF RESIGNATION Escrow Holder has the right to resign upon ten (10) days written notice delivered. to the principals herein. If such right is exercised, all funds and documents shall be returned to the party who deposited them and Escrow Hofer shall hava•no liability hereunder. 10. AUTHORIZATION TO EXECUTE ASSIGNMENT OF HAZARD INSURANCE POLICIES - Either Buyer, Seller and/or Lender may hand You the . insurance agent's name and insurance policy information, and you are to execute, on behalf of the principals hereto, form assignments of interest in any insurance policy (other than title insurance) called for in this escrow, forward assignment and policy to the insurance agent, requesting that the insurer consent to such transfer and/or attach a loss payable clause and/or such other endorsements as may be required, and forward such policy(s) to the principals entitled thereto. It is not your responsibility to verify the information handed you or the assignability of said insurance. Your sole duty is to forward said request to insurance agent at close of escrow. . Further, there shall be no responsibility upon the part of Escrow Holder to renew hazard insurance policybd upon expiration or otherwise keep it in force either during or subsequent to the close of escrow. Cancellation of any existing hazard insurance policies is to be handled directly by the principals, and outside of escrow. 11. ACTION IN INTERPLEADER . The principals. hereto expressly agree that you, as Escrow Holder, have the absolute right at your election to file an action in inlerpleader requiring the principals to answer and litigate their several claims and rights among themselves and you are authorized to deposit with the clerk of the court all documents and funds held in this escrow. In the event such action is filed, the principals jointly and severally agree to pay your cancellation charges and costs, expenses and reasonable attorney's fees which you are required to expend or incur in such interpleader action, the amount thereof to be fixed and judgment therefor to be rendered by the court. Upon the filing of such action, you shall thereupon be fully released and discharged from all obligations imposed by the terms of this escrow or otherwise. 12. TERMINATION OF AGENCY OBLIGATION If there is no action taken on this escrow within six (6) months after the "lime limit dale" as set forth in the escrow instructions or written extension thereof, your agency obligation shall terminate at your option and all documents, monies or other-items held by you shall be returned to the parties depositing same. In the event of cancellation of this escrow, whether it be at the request of any of the principals or otherwise, the fees and charges due Fidelity National Title Company, including expenditures incurred and/or authorized shall be borne equally by the parties hereto (unless otherwise agreed to specifically). 13. CONFLICTING INSTRUCTIONS Upon receipt of any conflicting instructions, you are to take no action in connection with this escrow until non-conflicting instructions are received from all of the principals to this escrow (subject to sections 7, 9, 11 and 12 above). 14. REIMBURSEMENT ATTORNEY FEES/ESCROW HOLDER In the event that a suit is brought by any party or parties to these escrow instructions to which the Escrow Holder is named as a . party which results in a judgment in favor of the Escrow Holder and against a principal orprincipals herein, the principals or principals' agent agree to pay said Escrow Holder all costs, expenses and reasonable attorney's fees which it may expend or incur in said suit, the amount thereof to be fixed and judgment therefore to be rendered by the court in said suit. li `Is as used in these instructions unless ears 419(~r[o Principe sta a herein is to be by regular mail, and receipt is 6{-.I Initials: / Date: July 20, 2000 Escrow No: 99342-MV determined to be 72 hours after such mailing. All documents, balances and slplemants.due to the undersigned are to be mailed to the address shown Herein. - 16. STATE/FEDERAL CODE NOTIFICATIONS applicable, will .,According to Federal Law, the Seller, when app be required to complete a sales activity report that will be utilized to generate a 1099 statement to the Internal Revenue Service. . Pursuant to Slate Law, prior to the close of escrow, Buyer will provide Escrow Holder with a preliminary Change of Ownership Report. In the event said report is not handed to Escrow Holder for submission to the County in which subject property is located, upon recording of the Grant Deed, Buyers acknowledge that the applicable fee will be assessed by said County and Escrow Holder shall debit the account of Buyer for same at close of escrow. Buyer and Seller herein represent and warrant that they will seek and obtain independent legal advice and counsel relative to their obligations under the "Foreign Investors In Real Property Act", and any other applicable federal and/or state laws regarding same, and will take all steps necessary in order to comply with such requirements, and hereby hold you harmless - relative to their compliance therewith. 17. ENCUMBRANCES Escrow Holder is to act upon any statements furnished by a lienholdei or his agent without liability or responsibility for the accuracy of such statements. Any adjustments necessary because of a discrepancy between the information furnished Escrow Holder and any amount later determined- to be correct shall be settled between the parties direct and outside of escrow. 10. ENVIRONMENTAL ISSUES Fidelity National Title Company has made no investigation' concerning said property as to environmenlalltoxic waste issues. Any duo diligence required or needed to determine environmental impact as to forms of toxification, if applicable, will be done directly and by principals outside of escrow. Fidelity National Title Company is released of any responsibility and/or liability in 'connection therewith. Page 5 19. USURY Escrow Holder is not to be concerned with any questions of usury in any loan or encumbrance involved in the processing of this escrow and is hereby released of any responsibility or liability therefore. ' 20. DISCLOSURE Escrow Holder's knowledge of matters affecting the properly, provided such facts do not prevent compliance with these instructions, does not create any liability or duty in addition to these instructions. 21. CLARIFICATION OF DUTIES Fidelity National Title Company serves ONLY as an Escrow Holder in connection with these instructions and cannot give legal advice to any party hereto. Escrow Holder is not to be held accountable or liable for the sufficiency or correctness as to form, manner of execution, or validity of any instrument deposited in this escrow, nor as to the identity, authority or rights of any person executing the same. Escrow Holder's duties hereunder shall be limited to the proper handling of such money and the proper safekeeping of such instruments, or other documents received by Escrow Holder, and for the disposition of same in accordance with the written instructions accepted by Escrow Holder. . The agency and duties of Escrow Holder commence only upon receipt or copies of these Escrow Instructions executed by all parties. THIS AGREEMENT IN ALL PARTS APPLIES TO, INURES TO THE BENEFIT OF, AND BINDS ALL PARTIES HERETO, THEIR HEIRS, LEGATEES, DEVISEES, ADMINISTRATORS, EXECUTORS, SUCCESSORS AND ASSIGNS, AND WHENEVER THE CONTEXT SO REQUIRES THE MASCULINE GENDER INCLUDES THE FEMININE AND NEUTER, AND THE SINGULAR NUMBER INCLUDES THE PLURAL. THESE INSTRUCTIONS AND ANY OTHER AMENDMENTS MAY BE EXECUTED IN ANY NUMBER OF COUNTERPARTS, EACH OF WHICH SHALL BE CONSIDERED AS AN ORIGINAL AND BE EFFECTIVE AS SUCH. MY SIGNATURE HERETO CONSTITUTES INSTRUCTION TO ESCROW HOLDER OF ALL TERMS AND CONDITIONS CONTAINED IN THIS AND ALL PRECEDING PAGES AND FURTHER SIGNIFIES THAT I HAVE READ AND UNDERSTAND THESE GENERAL PROVISIONS. FIDELITY NATIONAL TITLE COMPANY CONDUCTS ESCROW BUSINESS UNDER CERTIFICATE OF AUTHORITY NO. 2597-3 ISSUED BY THE CALIFORNIA DEPARTMENT OF INSURANCE. Robert E. McCoy, or Assignee dette P:-vQ,uercl0 ._r ee, ne, er of the Bernadette p ula Querclo Trust under Declaration of Trust dated March 21, 1997 1- 1it11i r'p _I to hn A frflfj rilL'S. y ~'`rUears jt? UUF SY- _ ~'r + t[jril ~r-;QQ - Vav 03 00 05:04p 04109/199'_5 08:03. . 97/!15/2004. p~:49' ASCOM67aAt;tAOM A a EDS Employee 6269741968 iZ V+74lSii11 MY 5, 2000 WILSON & WILSON WIL IN a; WLLSUN eae imasamULAOLS, Mall (213) 617"9003 Loa 1br. CAftI" gWII! 2 PAGE rw.s. v. q,~; ~Ml~iiAM~Me>1Vrslrlttelwastid,Callforale •:t >XMr 1~i.11LaCai: p elpp~ MMR a1'sowwlwoAk to your afrsr of April 29, 2000 made to purchase the, pro@* *w W by Datmmada moQMib. The p4ilalsprloa O(SM,00b,QQ F" 01009001O Wdet Ole foildwing terms and conditions; l: l0eaeir Ir is eieae as orlelon Sspensbar 50,1000. 1, Wn.Qj"06WWulalwWod to eeroala on the premises for four months d(lur Sloes 4faaWq jv 0 am siAtl WWhWS the Amdi to purchase the propiiiM to which the will move bet twldaM sod bowl bdilam tttd dme to nuke the modifications necessary to accommcW Mc hsr btt+~IFet 5. T* 0110 day 44 be $225,000.00 for the real property and 530,000,00 for 4. ')llrerersbmillps Ws 0" "a w tea and the saner shall not be responsible for ear. pe dgp aittl s oo*m ais+t . *ft* 'ow1 aslle►movow'ooil►aadhesi=ludingtitle poli&y. 1 XBIT A - . ZO 39Vd nwnM NOM bb0699L-9T8 .A) 4 MKM 16IMS1' Av ?At Uw N+t1Y1 ANVAIMAXAI WOO TV[BM%IMI' 61AQL. ME &IMAH.1404 gFFU T~tA ,MEF 1F.:9T OO9Z/5O/ZT lov 03 00 05:04p EDS EmploSev 04!09/1497 05:03 626974196A 6265T~1968 . 67 1e91 4e09 92! As u ll~lrt ►seh7►• ` itIt ~ l~fiM1:A w Pap; i. , INS WILSON R WILSON WIL" s wtLUJ4 PAGE dlb Beldt otp~ otlttaawad a lauct iudiesting that in the evcnl tyow~ p~A}q ~.~tdu.Gigwouldinsdiule eminent domain *Alvilia/~'~~ It ~a &0 b*W of dL6 Buren to rOlocote under lhresr of •w td"tro"2watae[*A d"Sf"N lrwqualllyitt; lee a tan dskaod tr:u,sler. 't7tla tle~> wmjwiwt#W Odor bobo.lulr.y, 2000. . ~~pOp %mu>h July 24, 2000 and unV W& w to e. 1ftOweirr~+'.oo~„w,;~w,r..~.noe,~iawaalL . v,ry eria0►f~► . , r' LO* ! %WM wa.aoH ccAYft", 0. ow, , •H tell' A ~AfT7AL 1•IM ELF 39tfd f11•rlN Nfl?I hNRta99/-P.rq ;P :OT Mgg7/cq1r RESIDENTIAL PURCF ;E'AGREEMENT~ I. .CALIFORNIA c i i 2il , ~r nssocl'nTioN (AND RECEIPT FOR DEPOSIT) . " ®"~P Or REALTOMS® ,.For Use With Single Family Residential Property -Attached or Detached Dale _ ht t 2- at i" California, Received From' J . C_ I. A I- /V n f ("Buyer), 3 _ Dollars $ , toward the A Deposit Of Purchase Price Of - 'A r_I r . , - Dollars $ rn_, For Purchase OI Property Situated In /P r - . , I a , County Of / California, Described As ("Properly"). 1. FINANCING: Obtaining the arts below Is a contingecy o- hAement. Buyer shall act diligently and in good faith to obtain the designated loans. Obtaimng deposit, down payment and closing costs is not a contingency. _ ~.y. A. BUYER'S DEPOSIT shall be held uncashed until Acce lance and then deposited within 3 business days after $ nl ~_'i Ey J- , - \ ,.P -t? with Escrow Holder, Acceptance or ~ ❑ into Broker's hust-account, or O T , by ❑ Personal Check, ❑ Cashier's Check, ❑ Cash, or}q A e-~;r ~,r - k B. INCREASED DEPOSIT shall be deposited with within - Days Alter. Acceptance, or ❑ r+' O. FIRST LOAN IN THE AMOUNT OF NEW First Deed of Trust in favor of LENDER, encumbering the Properly, securing a note payable at maximum interest of % fixed rate, or . % initial adjustable rate with a maximum interest rate cap of balance due in -years. Buyer shall pay loan fees/points not to exceed O FHA ❑ VA: Seller.shall pay (i) % discount points, (ii) other lees not allowed to be paid by Buyer, not to exceed $ and (iii) the cost of lender required repairs not othorwise provided for in this Agreement, not to exceed $ D. ADDITIONAL FINANCING TERMS:. . seller financing (CAR. Form SFA-14)' ❑ junior or assumed financing (C.A.R. Form PAA-14 paragraph 5) E. BALANCE OF PURCHASE PRICE (not including costs of obtaining loans and other closing costs) to be deposited with escrow holder within sufficienl lime to close escrow. f F. TOTAL PURCHASE PRICE $ G. LOAN CONTINGENCY shall remain in effect until the designated loans are funded ( or,1 _k?, Days After Acceptance, by w Ich time Buyer shall give Seller written notice of Buyer's election to cancel this Agreement if Buyer is unable to obtain the designated loans. It Buyer does not give Seller such notice, the contingency of obtaining the designated loans shall be removed by the method specified in paragraph 16B.) H.. LOAN APPLICATIONS; PREQUALIFICATION: For NEW financing, within 5 (or Jo Days After Acceptance, Buyer shall provide Seller a letter from lender or mortgage loan broker slating that, based on a review of Buyer's written application and credit report, Buyer is prequalified for the NEW loan indicated above. II Buyer fails to provide such letter within that time, Seller may cancel this Agreement in writing. 1. ❑ APPRAISAL CONTINGENCY: (It checked) This Agreement is contingent upon Property appraising of no less than the specified total purchase price. II there is a loan contingency, the appraisal contingency shall remain in effect until the loan contingency is removed. If there is no loan contingency, the appraisal contingency shall be removed within 10 (or ❑ ) Days After Acceptance. J. ALL CASH OFFER: If this is an all cash offer, Buyer shall, within 5 (or ❑ ) Days After Acceptance, provide Seller written verification of sufficient funds to close this transaction. Seller may cancel this Agreement in wriling within 5 Days Alter: (1) lime to provide verification expires, if Buyer fails to provide verification; or (if) receipt of verification, if Seller reasonably disapprove It - 2. ESCROW: Close Of Escrow shall occur Days Alter Accep ance (or~l onu~fyJ~jf/r'~(bale)). Buyer and Seller shall deliver signed escrow instructions consistent with this Agreement;() within Days Alter Acceptance, ❑ a( least _ Days before Close Of Escrow, or ❑ - Seller shall deliver possession and occupancy of the Property to Buyer allT~ AM~MI, O on the dale of Close Of Escrow, ❑ no later than Days After date of Close OI Escrow, or ❑ . Properly shall be vacant, unless otherwise agreed in writing. II Iransfer of title and possession do not occur at the same lime, Buyer and Seller are advised to (a) consul) with their insurance advisors, and (b) enter into a written occupancy agreement. The omission from escrow instructions of any provision in this Agreement shall not constitute a waiver of that provision. 3. OCCUPANCY: Buyer ❑ does, p3 does not, intend to occupy Properly as Buyer's primary residence. 4. ALLOCATION OF COSTS: (Check boxes which apply. If needed, insert additional instructions in blank lines.) GOVERNMENTAL TRANSFER FEES: A. ❑ BuyeryJ Seller shall pay County transfer lax or transfer fee. B. ❑ Buyer >1~ Seller shall pay City transfer tax or transfer lee. TITLE AND ESCROW COSTS: C. ❑ Buyer K Seller shall pay for owner's title insurance policy, issued by 41 - I I company. (Buyer shall pay for any title insurance policy insuring Buyer's Lenber, unles otherwise agreed) v 1 / D. Buyer 1 Seller shall pay escrow lee. -P Escrow holder shall be . rEWER/ ;EPTIC/WELL COSTS: E. ❑ Buyer ❑ Seller shall pay for ewer connection, if connection required by Law prior to Close Of Escrow. F. ❑ Buyer ❑ Seller shall pay to hve septic or private sewage disoysal.syslenainspecled. G. ~Buyec-C ollershaltpay-la-Md e"omeshc wells tested for water potability and productivity. OTHER COSTS: H. ❑ Buyer ❑ Seller shall pay Hompowners' Association transfer lees. ' 1\ 1. ❑ Buyer.❑ Seller shall pay Hom$owners' Association document preparation lees ' J.' ❑ Buyer ❑ Seller shall pay for zo a disclosure reports. K. ❑ Buyer ❑ Seller shall pay for Smeke Detector installation and/or Water Healer bracing~l Seller, prior to close of escrow, shall Rrovida Buyer a wrfllen statemenLCf-comp Il a in accordance with stale. and local Law, unless exempt. L. ❑ Buyer ❑ Seller shall pay the cost I compliance_wilMany oft r minimum mandatory government r Irofil standards and inspections required . as a condition of closing escrow under ny-Law. ' M. ❑ Buyer ❑ Soller shall pay the cost o a one-year home warranty plan, issued by , wjlbthe-follbw ni g optional coverage: .Policy cost not to exceed $ PEST CONTROL REPORT: N. ❑ Buyer ❑ Seller shall pay for the Pes Control Rep on ("Report'), which, within the time specified f~ paragraph 16 shall-be-prepared by a registered structural pest control company _s 0. (1) Buyer shall have the right to disapprov the Repon as specdiad in graph-l B;-UNCESS any box In 4 O (2) is checked below OR (2) (Applies It any box is checked below) r ll)" Irn /?p (a) ❑ Buyer ❑ Seller shi;ILpay-fom ik rec mmended to correct conditions described In Ih Pepbn°6s "Seclion.1. ~rfle'^-, - Q- 41. - y (b)_0_Buyer eller shall pay for work recommended to correct conditions described in the (iopen a4'"~ clidh'l2;rril regL99sled by l~)jrern ~ f cur Buyer and Seller acknowledg scalp of copy of this page, which constitutes Page ~~d(.1 = `=ages ~R 4L Buyer's Initials,.471YC>~~-=~)) ( ) Seller's Initials ( ) ( ) 'fin )/~Y11/ THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORSO (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. The copyright laws of file 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 © 1991-1999, CALIFORNIA ASSOCIATION OF REALTORS©, INC. ALL RIGHTS RESERVED. 1271 Published and Distributed by: r OFFICE USE ONLY REAL ESTATE BUSINESS SERVICES, INC. I Reviewed by Broker a subsidiary of the CALIFORNIA ASSOCIATION OFAEALTORo /V~ I or Designee 525 South irgil Avenue, Los Angeles, California 90020 E •H H"fI'''}I'~' 1"A Date PRINT DATE P?I!W. R'S COPY ~N\ P y(4Pm?y'Address: 9 1 A,.-:&2E .~'x ~ n r x .mil -r n J Dale: o(4 N.- m 5. PEST CONTROL TERMS: If a Report is prepared pursuant to paragraph 4N: A. The Report shall cover theain building and attached structures and, it checked: ❑ detached ga~ag, O the following other slrucl reels on the Property: 1 B. It Property isa unit in a condominium, planned development, or residential stock cooperative, the Re rt . and any exclusive-use areas sing transferred, and shall not cover common areas, unless otherwise a r C. It inspection of inaccessible areas is recommended in the Report, Buyer has the option, within 5 D~Aft and approve the Report by tht method specified in paragraph. 166, or to request in wrilinhat lunhe inspection no infestation or inleon is found in the inaccessible areas, the cos 1-I he n, speclion, entry, or for by Buyer. If upon further insp Ilion infestation or infection is foun 'M a inaccessible areas, the cost of and carports, O separate interest receipt of the Report, either to accept inspection be made. It upon further t closing of those areas shall be paid ,Ispection, entry, and closing of [hose areas shall be paid for by the pa ty so designated in parrap O(2)a. II no party is so designated, then st shall be paid by Buyer. D. If no inteslalion or infection by v(ood destroy>pesls or organisms is found in the Report, or upon corn lesion of required corrective work, a written Pest Control Certilicati n sh be issued. Certification shall be issued prior to Close Of Escrow, nfess otherwise agreed in writing. E. Inspections, corrective worand-P Est Control Certification in [his paragraph refers only to the presence or ab ence of wood destroying pests or organisms, and duo '~"not-include Ih@ condition of roof coverings. Read paragraphs 9 and 12 concerning roof verings. F. Nothing ip-par g3 raph 5 shall reliev eller of the obligation to repair or replace shower pans and shower enclosures due to leaks, it required by- ragraph 913(3). Water Iesl of ,Z pans on upper level units may not be performed unless the owners of property below the shower consent. 6. TRANSFER DISCLOSURE STATEMENT; LEAD-BASED PAINT HAZARD DISCLOSURES; NATURAL HAZARD DISCLOSURES;' SUBSEQUENT DISCLOSURES; MELLO-ROOS NOTICE; CANCELLATION RIGHTS: " A. Withinthe time specified in paragraph 16A(t), if required by law, a Real Estate Transfer Disclosure Statement ('TDS"), Federal Lead-Based Paint Disclosures and pamphlet, ("Load Disclosures"), and Natural Hazard Disclosure Statement ("NI-ID") shall-be completed and delivered to Buyer, who shall return sigped 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 olhorwise unaware, Seller,shall promptly provide a subsequent or amended disclosure, in writing, covering those items, except for those conditions and material Inaccuracies disclosed In reports obtained by Buyer. C.' Seller shall (f) make a good faith effort to obtain a disclosure notice from any local agencies which 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 Lead Disclosures, the NHD, 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 alter delivery in person,. or 5 days alter 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 beller.) 7. DISCLOSURES: Within the time specified in paragraph 16A(i), Seller shall (i) disclose it Property is located in any zone identified in.7A and provide any other information required for those zones; (ii) if required by law, provide Buyer with the disclosures and other information identified in 713; and, (iii) if applicable, take the actions specified in 7C. Buyer shall then,, within' the time specified in paragraph 16, investigate the disclosures and information, and other information provided to Buyer, and provide written notice to Seller of any item disapproved. A. ZONE DISCLOSURES: 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 federal, stale, or locally designated zone for which disclosure is required by Law. B. PROPERTY DISCLOSURES AND PUBLICATIONS: Earthquake Guides (and disclosures), Environmental Hazards Booklet. C. ❑ (If checked:) CONDOMINIUM/COMMON INTEREST SUBDIVISION: Property is a unit in a condominium, planned development, or other comnI interest subdivision. Seller shall request from the Homeowners' Association ("HOA"), and upon receipt provide to Buyer: copies of any . documents required by Law; any pending or anticipated claims or litigation by or against the HOA; a statement containing the location and number of designated parking and storage spaces; and copies of the most recent 12 months of HOA minutes for regular and special meetings, it available. (C.A.R. Four) HOA-11) D. NOTICE OF VIOLATION: If. prior to Close Of Escrow, Seller receives notice or is made aware of any notice filed or issued against d1a Property, for violations of any Laws, Seller shall immediately notify Buyer in writing.. E. DATA BASE DISCLOSURE: NOTICE: The California Department of Justice. sheriff's departments. police departments serving jurisdictions of 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. 0. TITLE AND VESTING: A. Within the time specified in paragraph 16A, 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, within the lime specified in paragraph 16A(2), provide written notice to Seller of any items reasonably disapproved. 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 interest), including all, mineral and water rights, it currently owned by Seller. Title shall be subject to all encumbrances, easements, covenants, conditions, restrictions, rights, and other matters which are of record or disclosed to Buyer prior to Close Of Escrow, unless disapproved in writing by Buyer within the time specified in paragraph 16A(2). However, title shall not be subject to any liens against the Property, except for those specified in the Agreement. Buyer shall receive an ALTA-R owner's title insurance policy, if reasonably available: II not, Buyer shall receive a standard coverage owner's policy (e.g. CLTA or ALTA with regional exceptions). Tittle shall vest as designated in Buyers escrow instructions. The title company, at Buyer's request, can provide information about availability, desirability, coverage, and cost of various title insurance coverages. THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEQUENCES. 9. 'CONDITION OF PROPERTY: A. EXCEPT AS SPECIFIED IN THIS AGREEMENT, Properly Is sold "AS IS," WITHOUT WARRANTY, In its PRESENT physical condition. B. (IF CHECKED) SELLER WARRANTS THAT AT THE TIME POSSESSION 15 MADE AVAILABLE TO BUYER: - ❑ (1) Roof shall be free of leaks KNOWN to Seller or DISCOVERED during escrow. ❑ (2) Built-in appliances (including free-standing oven and range, it included in sale), healing, air conditioning, electrical, mechanical, water, sewer, and pool/spa systems, if any, shall be repaired, If KNOWN by Seller to be inoperative or DISCOVERED to be so during escrow. (Well system Is not warranted by this paragraph. Well system is covered by paragraphs 4G, 12 and 16.) ❑ (3) Plumbing systems, shower pans, and shower enclosures shall be free of leaks KNOWN to Seller oi.DISCOVERED.cluring escrow. ❑ (4) All fire, safety, and structural defects in chimneys and fireplaces KNOWN to Seller or DISCOVERED;during escrow shall be repaired. ❑ (5) Septic system, If any, shall be repaired, If KNOWN by Seller to be inoperative, or DISCOVP~R~ED to be so'duririg.escr9w., ❑ (6) All broken or cracked glass, torn existing window and door screens, and multi-pane windo~v;,)vah biokeriseafsysgall be replaced r),-rr, r`( O (7) All debris and all personal property not included in the sale shaft be removed. C. PROPERTY MAINTENANCE: Unless otherwise agreed, Property, including pool, spa, landscai 1/altdr)gr`oL"(I s;"is,((o^b4 maintained in substantially the same condition as on the dale of Acceptance. ,fE l~)rV l;l ''('il...... m- D. INSPECTIONS AND DISCLOSURES: Buyer's right to inspect the Property and disapprove of its condition based upon items discovered in Buyer's Inspections, which are not covered by paragraph 9B, shall be governed by the procedure in paragraphs 12 and 16. Disclosures in the TDS and items discovered in Buyer's Inspections do NOT eliminate Seller's obligations under paragraph 9B, unless specifically agreed in writing. WHETHER OR NOT SELLER WARRANTS ANY ASPECT OF THE PROPERTY, SELLER IS OBLIGATED TO DISCLOSE KN W MATERIAL FACTS, AND TO MAKE OTHER. DISCLOSURES REQUIRED BY LAW. Buyer and Seller a knowledge receipt of copy of this page, which constitutes Page 2 of Pages. OFFICE USE ONLY Reviewed by Broker Buyer's Initials Seller's Initials( ) ( ) (REVISED 4/99 or Designee In Dale nr~``~ m occ DATE n PRINT 99 ~l`~^ ,,,prod'erty Address: 1-L 7- 1 7 PY s` X 1 l 2-A J ~Ji0 Date: O -=r11 10. FIXTURES: All EXISTING fixtures and fillings that are attached to the Property, or for which special openings have been made, are INCLUDED IN THE PURCHASE PRICE (unless excluded below), and shall be transferred free of liens and 'AS IS," unless specifically warranted. Fixtures shall include, but are not limited to, existing electrical, mechanical, lighting; plumbing and healing lixlures, fireplace Inserts, solar systems, built-in appllanceb, window and door screens, awnings, shutters, window coverings, attached floor coverings, television antennas, satellite dishes and Totaled equipment, private inlegrated telephone systems, air coolers/condilioners, pooVspa equipment, garage door openers/remote controls, attached fireplace equipment, mailbox, in-ground landscaping, including Irees/shrubs, and (if owned by Seller) water softeners, water purifiers and security systems/alarms, and - FIXTURES EXCLUDED: 11. PERSONAL PROPERTY: The following items of personal property, free of liens and 'AS IS," unless specifically warranted, are INCLUDED IN THE PURCHASE PRICE: 12. BUYER'S INVESTIGATION OF PROPERTY CONDITION: Buyer's Acceptance of the condition of the Property is a contingency of this Agreement, as specified in this paragraph and paragraph 16. Buyer shall have the right, at Buyer's expense, to conduct inspections, investigations, tests, surveys, and other studies ("Inspections'), including the right to inspect for lead-based paint and other lead-based paint hazards and investigation of the sex offender data base under paragraph 7E. 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. Property improvements may not be built according to codes or in compliance with current Law, or have had permits issued. Buyer shall, within the time specified in Paragraph 16A(2), complete these-1 Inspections and notify Seller in writing of any items reasonably disapproved. Seller shall make Property available for all Inspections. Buyer shall:.` keep Property free and clear of liens; indemnity and hold Seller harmless from all liability, claims, demands, damages and costs; and repair all damages arising from Inspections. Buyer shall carry, or Buyer shall require anyone acting. on Buyer's behalf to carry, policies of liability, worker's compensation, and other applicable insurance, defending and protecting Seller from liability for any injuries to persons or property occurring during any 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 work done on the Property at Buyer's direction. At Seller's request, Buyer shall give Seller, at no cost, complete copies of all Inspection reports obtained by Buyer concerning the Property. Seller shall have waler.•gas and electricity on for Buyer's Inspections, and through [he'date possession is made available to Buyer. - 13. FINAL WALK-THROUGH; VERIR I AT-ION OF CONDITION: Buyer shall have the right to make a fin ~ Dspection-e--the-Prope fly within 5 (or ❑ ) Days prior to Close f Escrow NOTA¢ a CONT1NGE-NCY-OF7RE-Sfi E,-b~u1 solely to confir Thal Repairs have been completed asagreedimwrlting, an Ifiat Seller has complied with Seller's other obligations. 14. PRORATIONS AND PROPERTY TAXES: Unless otherwise agreed in writing, 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 which are now a lien shall be PAID CURRENT and prorated between Buyer and Seller as of Close Of Escrow. 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, shall be assumed by Buyer WITHOUT CREDIT toward the purchase price. Property will be reassessed upon change of ownership. Any supplemental lax bills shall be paid as follows: (1) For periods after Close Of Escrow, by Buyer; and. (2) For periods prior to Close Of Escrow, by Seller. TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED DIRECTLY B&WEEN BUYER AND SELLER. Exceptions: 15. SALE OF BUYER'S PROPERTY: A. This Agraement is NOT contingent on the sale of Buyer's property, unless paragraph 15D is checks OR B. ❑ (If Checked) This Agreement IS C NTINGENT. on the Close Of Escrow of Buyer's property, described as (address) _ ('Buyer's Props "which is (if checked) ❑ listed for sale with - ompany, and/or (il;checked) ❑ in. Escrow No. with screw Holder, scheduled to Close Escrow on (d le). Buyer shall deliver to Seller, within 5 Days After Seller' ' ues , a copy of the contract for the sale of Buyer's Properly, escrow instructions, and all amendments and modifications thereto FB yeG is Propeny Des not close escrow by the dale specified for Close Of Escrow in this par graph, then either Seller Seller o cancel this Agreement in w icing. Alter Acceptance: 1 (1) (Applies UNLESS (2) Is checked): S Iler SHALL ve he right to continue to oiler the Properly for sale. It Seller accepts another written offer, Seller shall give Buyer wrillen not e-t I) remove this contingency in writing, (it) provide wrillen verili lion of sufficient funds to close er's Property, and (III) comply wilh9he following additional requ ement(s) . escrow on this sate without l e-sale iw,,'n 11 Buye i to complete those action72 r ph ours After receipt of such notice, Seller may ca col this Agreement in writing. OR (2) PLIES ONLY IF CHECKED:) SellLL NOT have the right to continue to offer the Property for sale, xcepl for back-up offers. 16. TIME PERIODS/DISAPPROVAL RIGHTS/REMOVAL OF CONTINGENCIES/CANCELLATION RIGHTS: A. TIME PERIODS: The following time periods shall apply, unless changed by mutual written agreement:. (1) SELLER HAS: 5 (or ❑ ) Days After Acceptance to, as applicable, order, request or complete, and 2 Days Alter receipt - (or completion) to provide to Buyer all reports, disclosures, and information for which Seller is responsible under paragraphs 4, 6, 7A, 7B, 7C, and B. (2) BUYER HAS: (a) 10 (oral Days Alter Acceptance to complete all Inspections, investigations and review of reports,and other applicable information for which Buyer is'responsible, with an additional 7 Days to complete geologic Inspections, and 10 (or Days after Buyer's receipt of Lead Disclosures pursuant to paragraph 6A to complete Inspections for lead-based paint and lead-based paint hazards. WITHIN THIS TIME, Buyer must either disapprove in writing any items, (including, if applicable, the pest control Report under paragraph 40(1)) which are unacceptable to Buyer, or r move any contingency or disapproval right associated with that item by the active or passive method, as specified below; (b) 5 (or)4 ) Days After receipt of (i) each of the items in paragraph 16A(1); and (it) notice of code and legal violations under paragraph 7D, to either disapprove in writing any items which are unacceptable lo' Buyer, or to remove any contingency or disapproval right associated with that item, by the active or passive method, as specified below. ' (3) SELLER'S RESPONSE TO BUYER'S DISAPPROVALS: Seiler shall have 5 (or O Days Alter receipt of Buyer's written notice .ol -items-reasonably disapproved, to respond if, writing.; If Seller refuses or is unable to make repairs to, or correct, any items seasonably - . disapproved by Buyer, or it Seller does not respond within the time period specified. Buyer shall have 5 (or ❑ -).Days After receipt of Seller's response, of after the expiration of the: time for Seller to respond, Ilvhichever occurs first, to. cancel this Agreement in . writing.' ;8:. ACTIVE OR PASSIVE REMOVAL OF BUYER'S CONTINGENCIES: r~ ' - rrrA(> q;ar{ (1) O ACTIVE METH OD.(APPLIES IF CHECKED): If Buyer does not give Seller writlenthollge of/deins reasbnabI dlsapprovedi ~9movel of contingencies or disapproval right, or notice of cancellation within the lime periodsljs(reCilied,x `later shall have')hr(Yl hbtolya~cel this Agreement by. giving written notice to Buyer. (2)PASSIVE METHOD (Applies UNLESS Active Method is checked): II Buyer does not giv~Sale r) Wrlltep,ofice'Toj /items reasonably disapproved, or of removal of contingencies or disapproval right, or notice of cancellation within the time periods~s~ecIII- 'BUyereshall be deemed to have removed and waived any contingency or disapproval right, or the right to cancel, associated with Thal item.' C. EFFECT OF CONTINGENCY REMOVAL: If Buyer removes any contingency or cancellation right by the active orpassive method, as applicable, Buyer shall conclusively be deemed to have: (1) Completed all Inspections, investigations, and review of reports and other applicable information - and disclosures pertaining to that contingency or cancellation right; (2) Elected to proceed with the transaction; and, (0) Assumed all liability, responsibility,' and expense for repairs or corrections pertaining to that contingency or cancellation right, or for inability to obtain line m I e contingency pertains to financing, except for items which Seller has agreed in writing torepair or correct. - Buyer and Seller acKno71 d e reset l of c0 l - OFFICE USE ONLY g p copy of this page, which conslilules Page 3 of Pages. Rswewed by Broker - Buyer's Inihal~ ~j ) Seller's Initials ( ) ( ) REVISED 4/99 or Designee- PRINT DATE . Dale _-f1v`~ r Nny IT DEC 09 QUrmI4B IT A . . Property Address: r7 ~_~~1 a.~X. r f 1.1 J ~r~LOr % r` Date: 01 Lr D. CANCELLATION OF SALEIESCROW; RETURN OF 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, loss lees 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 both Buyer and Seller, judicial decision, or arbitration award. A party may be subjecl.to a civil penalty of up to $1,000 for refusal to sign such Instructions, cif no good faith dispute exists as to who Is entitled to the deposited funds (Civil Code §1057.3). - 17. REPAIRS: Repairs under this Agreement shall be completed prior to Close Of Escrow, unless otherwise agreed in writing. Work to be performed at Seller's expense may be performed by Seller or through others, provided that work complies with applicable laws, including governmental permit, inspection, and approval requirements. Repairs shall be performed in a skillful manner with materials of quality comparable to existing materials. It is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible. 18. WITHHOLDING TAXES: Seller and Buyer agree to execute and deliver any instrument, affidavit, statement, or instruction reasonably necessary to comply with federal (RRPTA) and California withholding Laws, it required (such as C.A.R. Forms AS-11 and AB-11). 19. KEYS: At the lime possession is made available to Buyer, Seller shall provide keys and/or means to operate all Properly locks, mailboxes, security systems, alarms, and garage door openers. If the Property is a unit in a condominium or subdivision, Buyer may be required to pay a deposit to the HOA to obtain keys to accessible. HOA facilities. 2o. LIQUIDATED DAMAGES: If Buyer fails;to complete this purchase by reason of any :default of Buyer, Seller shall retain, as liquidated damages for breach of contract, the deposit actually paid. However, 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. Buyer and Seller shall also sign a separate liquidated damages provision-for-a ry increased deposit. (C.A.R. Form RID-11 shall fulfill this requirement.) - Buyer's Initlis rr----~J Seller's Initials / 21. 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, subject to paragraphs 21C and D below. Mediation lees, if any, shall be divided equally among the parties involved. It any party commences an action based on a dispute or claim to which this paragraph applies, without first attempting to resolve the matter through mediation, then that party shall not be entitled to recover attorney's 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 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, subject to paragraphs 21C and D 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 III, 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 to discovery in accordance with Code of Civil Procedure §1283.05. "NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU .MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS THOSE RIGHTS ARE'SPECIFICALLY INCLUDED IN THE'ARBITRATION OF DISPUTES' PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY." "WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT.DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION TO NEUTRAL 22. 23. ARBITRATION." Buyer's Initials Seller's Initials _I_ C. EXCLUSIONS FROM MEDIATION AND ARBITRATION: The following mallets are excluded from Mediation and Arbitration: (a) Ajudicial 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; (b) An unlawlul detainer action; (c) The filing or enforcement of a mechanic's lien; (d) Any matter which is within the jurisdiction of a probate, small claims, or bankruptcy court; and (e) An action for bodily injury or wrongful death, or for latent or patent defects to which Code of Civil Procedure §337.1 or §337.15 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. 0. BROKERS: Buyer and Seller agree to mediale 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, lime 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. DEFINITIONS: As used in this Agreement: _ A. "Acceptance" means the lime the offer or final counter offer is accepted in writing by the other party, 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. C. "Days" means calendar days, unless otherwise required by Law. _ D. "Days After moans the specified number of calendar days after the occurrence of the event specified,-not counting the calendar date art which the specified event occurs. E. "Close Of Escrow" means the date the grant deed, or other evidence of transfer of title, is recorded. - - F. "Law" means any law, code, statute, ordinance, regulation, or rule, which is adopted by a controlling city, county, stale or federal legislative or judicial body or agency. - G. "Repairs" means any repairs, alterations, replacements, or modifications, (including pest control work) of the Property. H.. "Pest Control Certification" means a written statement made by a registered structural pest control company Ihal.on the date of inspection or re-inspection, the Property is "free" or is "now free" of "evidence of active infestation in the !iisibWandlaEEes`sibfe ldrefA7P .Ind eofi 1. Section 1 means infestation or infection which is evident, Section 2 means present condijionsllikely,to lead lo_ipieSlalidrtj oh.fAleclidh. Our J. Singular and Plural terms each include the other, when appropriate. r n K. C.A.R. Form means the specific form referenced, or another comparable form agreed Io bylll~e rpa MULTIPLE LISTING SERVICE ("MLS"): Brokers are authorized to report the terms of ihts Ilm-",~~i~rlilTQ~anyyfgil't nfglbe'jgyl>~fsed and disseminated to persons and entities authorized to use the information, on terms approved by the MLSt. Buyer and Selle!,,acknowlgdge receipt of copy of this page, which constitutes Page 4 of 1 Pages. Buyer's Initid( frL. _ ( ) Seller's Initials ( ) ( ) REVISED 4/99 Pti DATE 00E A "DEC 9 - 9 BL)~r~ HIB IT A - OFFICE USE ONLY - Reviewed by Broker or Designee Dale ~w\,~ Or. N., Property Address: 9'I3 v r; --1X>f e,4 Q/-7c Date: o G--~ - na 24. EQUAL HOUSING OPPORTUNITY: The Property Is sold in compliance with federal, stale, and local anti-discrimination Laws. 25. ATTORNEY'S 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's fees and costs from the nbh-prevailing Buyer or Seller, except as provided In paragraph 21 A. - 26. SELECTION OF SERVICE PROVIDERS: If Brokers give Buyer or Seller referrals to persons, vendors, or service or product providers ("Providers"), Brokers do not guarantee the performance of any of those Providers. Buyer and Seller may select ANYProviders of their own choosing. 27. TIME OF, ESSENCE; ENTIRE CONTRACT; CHANGES: Time Is ol'lhe 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 mailer, and may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. This Agreement may not be extended, amended, modified, altered,.or changed, except in writing signed by Buyer and Seller. 20. OTHER TERMS AND CONDITIONS, including ATTACHED SUPPLEMENTS: „ Id I J. J . ) ,r 1 7-, r J rr s „ 'J rear. 29.. AGENCY CONFIRMATION: The following ag@ncy relationships are he)e y confirmed for this transaction, L~ eo,J .t..cr~,/,J s,cra,/./ Listing Agent:^ - (Print Firm Name) is the agent of (check one): A a n.a ,(p v,y, ❑ the Seller exclusively; or d both the Buyer and Seller. Selling Agent: _ / a 6 77 D i)n ) 7 R -o , (Print Firm Name) (if not same as Listing Agent) is the agent of (check one): r l the Buyer exclusively; or'O INe Seller exclusively; or O both the Buyer and Seller. Real Estate Brokers are not parties to the.Agreemenl between Buyer and Seller. 30. 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 it initialed by all parties. If at least one but not all parties initial, a counter otter is required until agreement is reached. Unless Acceptance of Offer is signed by Seller,. and a signed copy delivered in person, by mail, or facsimile, and personally receive by Buyer, or'by A~,l A r / • ' f , who is authorized to receive it, by (dale) C - / O , at - rb AM M e offer shall be doomed revoked and the deposit shall be returned. Buyer has read and acknowledges receipt of a copy of the offer and agrees to the above confirmation of agency relationships. It this offer is accepted and Buyer subsequently defaults, Buyer may be responsible for payment of Brokers' compensalion. This Agreement and any supplement, addendum, or modification, including any photocopy or facsimile, may be signed in two or more counterparts, all of which shall constitute one and the same writing. Buyer an,d Seller acknowledge and agree that Brokers: (a) Do not decide what price Buyer should pay or Seller should accept; (b) Do not guarantee the condition of the Property; (c) Shall not be responsible for defects that are not known to Broker(s) and are not visually observable in reasonably accessible areas of the Property; (d) Do not guarantee the performance or Repairs of others who have provided services or products to Buyer or Seller, (e) Cannot identify location of boundary lines or other items aNecting Property title; (f) Cannot verify inspection reports; square footage or representations of others; (g) Cannot education provide legal and. experience (h) Will not provide other advice or information that exceeds the knowledge, seek , ce required other a real estate license. Buyer and Seller agree that they will legal tax,~nsurance, title, and oter desired assistance from appropriate professionals. BUYER BUYER iJ r r)1 7. 31. BROKER COMPENSATION: Selleragrees to pay compensatttl1tttion for services as follows: - Z P-4/? VIA d'd ' Jr~l, to n/~r c.T t Broker, and to , Broker, payable: (n) On recordation of the deed or other evidence of title; or (b) If completion of sale is prevented by default of Seller, upon Sellers default; or, (c) It completion of sale is prevented by default of Buyer, only if and when Seller collecls damages from Buyer, by suit or otherwise, and then in an. amount equal to one-half of the damages recovered, but not to exceed the above compensalion, after first deducting title and escrow expenses and the expenses of collection, it any. Seller hereby Irrevocably assigns to Brokers such compensation from Seller's proceeds, and irrevocably. instructs Escrow Holder to disburse those funds to Brokers at close of escrow. Commission instructions can be amended or revoked only with the written consent of Brokers. In any action, proceeding or arbitration relating to the payment of such compensation, the prevailing party shall be entitled to reasonable attorney's lees and costs, except as provided in paragraph 21 A. 32. ACCEPTANCE OF OFFER: Seller warrants that Seller is the owner of this 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, DATED Date f)°r' i'Ip>rl SELLER to hn a true-and correct.... ( ) •ACKNOwLEDGMENT.OF RECEIPT: Buyer or authorized $eni as,& wldbdgl&~syyrrFeceipt of-slgriffdAmeplance or(dale) (Initials) at_AM/PM. FIDE 1II T{irJAIIGNALTITLE . %gency relationships are confirmed as above. Real Estate Brokers are not parties to the 77Agreement between Buyer and Seller. feceipt for deposit is acknowledged: teal Estate Broker (Selling Firm Name) / > , - By 'Dale 6 4 ,o DD ,ddress . O Y l P rT 24 l iJ d 1 - ( ~~Q qq Pho r ax/email 'eat Estate Broker (Listing Firm Name) By Dale ddress Phone/Fax/email ON VIpL N ,is form is available for usa by the entire real estate Induvry. It is not intended REVISED 4/99 F_ identity the user as a REALTORts. REALTORO is a registered collective embership mark which may be used only by members of the NATIONAL P 5 of pages. roke • ~~l 3SOCIA710N OF REALTORS®who subscribe to its Code of Elhiw. age 7i` r~r' x.c.b9, RUE71,CIM1T A orrvn ri .