HomeMy WebLinkAboutCARRINGTON MORTGAGE SERVICES, LLC-2008
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A-2008-061
CITY OF SANTA ANA-PUBLIC WORKS AGENCY
WIRE TRANSFER REQUEST # ;,;;.
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DATE: April 8, 2008
DATE: '1-/5 -of'
TO: ACCOUNTS PAYABLE
DATE TRANSFER IS REQUIRED: Funding on/before Apri/17, 2008
SEND WIRE TRANSFER TO:
Comerica Bank-California
2321 Rosecrans Avenue, Suite 5000
EI Segundo, CA 90245
Acct # 1892400175
Routing #: 121137522
FOR THE CREDIT OF:
The Heritage Escrow Company
Palm Desert Branch
204-11574-KRCF
ADDRESS: 1251 Camile Street
APN #:
01 0-111-02
AMOUNT:
$ 264,940.00
AGREEMENT #: 2008-061
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ACCOUNT #: 59-553-6611
JOURNAL VOUCHER #:~\ d i Ln
W.O. #: 49951 L(CfC( rI)
REASON
Acquisition of parcel for Bristol Widening-Pine to McFadden
Project Number 06-1500
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DEPARTMENT APPROVAL:
~On
- nt Jorgens~
Project Dir tor
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t.z /54,tJ
ri Amirani r5ii:F
,e50/ty City Engineer
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Christine Duarte Date
Treasury Manager
f/IS!D?{
Ma g r Mercer Date
PW A-Administrative Services
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\~I \'t\.i' : b.lt- ... ~ ~. ~....:"' r D
Francisco Gutierrez Date
Finance Executive Director
T~E ~
~ COMPANY
44751 Village Court Drive, Suite 300
Palm Desert, CA 92260
(760) 837.1110
Fax: (760) 837-1312
BUYERJBORROWER STATEMENT
Estimated
Escrow Number: 204-11574
li:scrow Officer: Kari Collins
l'lt1e Order Number: K717769
Date; 03/31/2008 -J2:10:42PM
Closing Date: 04/11/2008
BuyerlBorrower: City of Santa Ana
Seller: Wells Fa<go Bank N.A., lI!l TtllStee for Carrington Mortgage Loan Trust, Serics 2006.NC2 Asset Backed Pass-Through
Certificates
Property:
1251 Wcst Camile Street, Santa Ana, CA 92703
Escrow Fcc
Seller's Wire Fee
Federal Ex ress Fee
Processin Fee
Seller's Esc<ow Fee
ADDITIONAL DISBURSEMENTS:
Refundable Paddin ;.
BALANCE DUE TO ESCROW
TOTALS
249.1
264,940.0q
264.940.00
264,940.00
B
.:i' - 3/,- 0 f
THIS IS AN ESTIMATED CLOSING STATEMENT. ESCROW HOLDER DOES NOT GUARANTEE 'tHESE ESTIMATED FIGURES
WHICH ARE SUBJECT TO CHANGE AS OF CLOSE OF ESCROW.
.M 1M; ~
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WIRING INSTRUCTIONS
WIRE TO: COMERICA BANK - CALIFORNIA
(Prepared by: KRC)
2321 Rosecrans Ave., Suite 5000
EI Segundo, CA 90245
ROUTING NUMBER (Domestic): 121137522
SWIFT CODE (International): MNBDUS33
ACCOUNT NUMBER: 1892400175
44751 Village Court Drive. Suite 300
Palm Desert, CA 92260
(760) 837-1110
Fax: (760) 837-1312
www.heritageescrow.com
FOR THE CREDIT OF: The Heritage Escrow Company
Palm Desert Branch
REF: Credit to Escrow No: 204-11574-KRC
AMOUNT: $264,940.00
WIRE ON OR BEFORE: ASAP
Important: The Heritage Escrow Company does not accept
"over the counter" or ACH (online) deposits.
** ESCROW NO. MUST BE REFERENCED ON ALL WIRING INSTRUCTIONS **
A-2008-061
, A-~' C A L I FOR N I A
...~ AS SOC IATION
~ OF REALTORS'llJ
Date March 11. 2008 , at
1. OFFER:
A. THIS IS AN OFFER FROM Ci ty Of San ta Ana
B. THE REAL PROPERTY TO BE ACQUIRED is described as 1251 West Camile Street, Santa Ana
, Assessor's Parcel No.
Santa Ana , County of
C. THE PURCHASE PRICE offered is Two Hundred Sixtv Thousand
CALIFORNIA
RESIDENTIAL PURCHASE AGREEMENT
AND JOINT ESCROW INSTRUCTIONS
For Use With Single Family Residential Property - Attached or Detached
(CAR. Form RPA-CA, Revised 11/07)
Santa Ana
, California.
("Buyer").
CA
92703
Oranae
, situated in
, California, ("Property").
Dollars $ 260,000.00
D. CLOSE OF ESCROW shall occur on April 25. 2008 (date) (or 0 Days After Acceptance).
2. FINANCE TERMS: Obtaining the loans below is a contingency of this Agreement unless: (i) either 2K or 2L is checked below; or (ii) otherwise
agreed in writing. Buyer shall act diligently and in good faith to obtain the designated loans. Obtaining deposit, down payment and closing costs is not
a contingency. Buyer represents that funds will be good when deposited with Escrow Holder.
A. INITIAL DEPOSIT: Buyer has given a deposit in the amount of . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
to the agent submitting the offer (or to 0 ), by personal check
(or 0 ), made payable to
which shall be held un cashed until Acceptance and then deposited within 3 business days after Acceptance
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Escrow Holder, (orO into Broker's trust account).
B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of . . . . . $
within Days After Acceptance, or 0
C. FIRST LOAN IN THE AMOUNT OF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
(1) NEW First Deed of Trust in favor of lender, encumbering the Property, securing a note payable at maximum
interest of % fixed rate, or % initial adjustable rate with a maximum interest rate
of %, balance due in years, amortized over years. Buyer shall
pay loan fees/points not to exc,eed . (These terms apply whether the designated loan
is conventional, FHA or VA.)
(2) 0 FHA 0 VA: (The following terms only apply to the FHA or VA loan that is checked.)
Seller shall pay % discount points. Seller shall pay other fees not allowed to be paid by Buyer,
o not to exceed $ . Seller shall pay the cost of lender required Repairs (including
those for wood destroying pest) not otherwise provided for in this Agreement, 0 not to exceed
$ . (Actual loan amount may increase if mortgage insurance premiums, funding
fees or closing costs are financed.)
D. ADDITIONAL FINANCING TERMS: 0 Seller financing, (CAR. Form SFA); 0 secondary financing, . . . . . . . . . . . $
(CAR. Form PM, paragraph 4A); 0 assumed financing (CAR. Form PM, paragraph 4B)
E. BALANCE OF PURCHASE PRICE (not including costs of obtaining loans and other closing costs) in the amount of . . $
to be deposited with Escrow Holder within sufficient time to close escrow.
F. PURCHASE PRICE (TOTAL): . . . . . . . . . . . . . . . . . . .. .............................................. $ 260,000.00
G. LOAN APPLICATIONS: Within 7 (or 0 ) Days After Acceptance, Buyer shall provide Seller a letter from lender or mortgage loan
broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved for the NEW loan
specified in 2C above.
H. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to 2G) shall, within
7 (or 0 ) Days After Acceptance, provide Seller written verification of Buyer's down payment and closing costs.
I. LOAN CONTINGENCY REMOVAL: (i) Within 17 (or 0 ) Days After Acceptance, Buyer shall, as specified in paragraph 14, remove
the loan contingency or cancel this Agreement; OR (ii) (if checked) 0 the loan contingency shall remain in effect until the designated loans are
funded.
J. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (OR, if checked, 0 is NOT) contingent upon the Property appraising at no
less than the specified purchase price. If there is a loan contingency, at the time the loan contingency is removed (or, if checked, 0 within 17 (or
) Days After Acceptance), Buyer shall, as specified in paragraph 14B(3), remove the appraisal contingency or cancel this Agreement.
If there is no loan contingency, Buyer shall, as specified in paragraph 14B(3), remove the appraisal contingency within 17 (or ) Days
After Acceptance.
K. !Xl NO LOAN CONTINGENCY (If checked): Obtaining any loan in paragraphs 2C, 20 or elsewhere in this Agreement is NOT a contingency of this
Agreement. If Buyer does not obtain the loan and as a result Buyer does not purchase the Property, Seller may be entitled to Buyer's deposit or
other legal remedies.
L. ~ ALL CASH OFFER (If checked): No loan is needed 10 purchase the Property. Buyer shall, wilhin 7 (or 0
provide Seller written verification of sufficient funds to close this transaction.
3. CLOSING AND OCCUPANCY:
A. Buyer intends (or ~ does not intend) to occupy the Property as Buyer's primary residence.
B. Seller-occupied or vacant property: Occupancy shall be delivered to Buyer at 12: 00 IX! AM 0 PM, 0 on the date of Close Of Escrow;
o on ; or 0 no later than Days After Close Of Escrow. (CAR. Form PM, paragraph 2.) If transfer of title and
occupancy do not occur at the same time, Buyer and Seller are advised to: (i) enter into a written occupancy agreement; and (ii) consult with their
insurance and legal advisors. ~uyer's Initials ( <.J1':Z ) ( )
The copyright laws of the United States (Tille 17 U.S. Code) forbid the unauthorized " . .
reproduction of this form, or any portion thereof, by photocopy machine or any other Seller s Imtlals ( ) ( )
means, including facsimile or computerized formats. Copyright @ 1991-2007, I I
CALIFORNIA ASSOCIATION OF REALTORs@), INC. ALL RIGHTS RESERVED. Reviewed by Date
RPA-CA REVISED 11/07 (PAGE 1 OF 8) CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT RPA-CA PAGE 1 OF 8
Agent: PJ Jahanglrl Phone: (714) 288-8600 Fax: (714) 289-1206 Prepared using WINForms@software
Broker: Villa Realty Group 1421 N. Wanda Rd. Suite 120 , Orange CA 92867
) Days After Acceptance,
G:r
EDUAL HOUSING
OPPORTUNITY
1251 West Camile Street
Property Address: Santa Ana, CA 92703 Date: March 11, 2008
C. Tenant-occupied property: (I) Property shall be vacant at least 5 (or D ) Days Prior to Close Of Escrow, unless otherwise agreed
in writing. Note to Seller: If you are unable to deliver Property vacant in accordance with rent control and other applicable Law, you may
be in breach of this Agreement.
OR (ii) (if checked) D Tenant to remain in possession. The attached addendum is incorporated into this Agreement (CAR. Form PAA,
paragraph 3.);
OR (Hi) (if checked) D This Agreement is contingent upon Buyer and Seller entering into a written agreement regarding occupancy of the Property
within the time specified in paragraph 14B(1). If no written agreement is reached within this time, either Buyer or Seller may cancel this Agreement
in writing.
D. At Close Of Escrow, Seller assigns to Buyer any assignable warranty rights for items included in the sale and shall provide any available Copies
of such warranties. Brokers cannot and will not determine the assignability of any warranties.
E. At Close Of Escrow, unless otherwise agreed in writing, Seller shall provide keys and/or means to operate all locks, mailboxes, security systems,
alarms and garage door openers. If Property is a condominium or located in a common interest subdivision, Buyer may be required to pay a
deposit to the Homeowners' Association ("HOA") to obtain keys to accessible HOA facilities.
4. ALLOCATION OF COSTS (If checked): Unless olherwise specified here, this paragraph only determines who is to pay for the report, inspection, test
or service mentioned. If not specified here or elsewhere in this Agreement, the determination of who is to pay for any work recommended or identified
by any such report, inspection, test or service shall be by the method specified in paragraph 14B(2).
A. WOOD DESTROYING PEST INSPECTION:
(1) D Buyer D Seller shall pay for an inspection and report for wood destroying pests and organisms ("Report") which shall be prepared
by , a registered structural pest
control company. The Report shall cover the accessible areas of the main building and attached structures and, if checked: D detached
garages and carports, D detached decks, D the following other structures or areas
. The Report shall not include roof coverings. If Property is a condominium
or located in a common interest subdivision, the Report shall include only the separate interest and any exclusive-use areas being transferred
and shall not include common areas, unless otherwise agreed. Water tests of shower pans on upper level units may not be performed without
consent of the owners of property below the shower.
OR (2) D (If checked) The attached addendum (CAR. Form WPA) regarding wood destroying pest inspection and allocation of cost i.s incorporated
into this Agreement.
B. OTHER INSPECTIONS AND REPORTS:
(1) D Buyer 0 Seller shall pay to have septic or private sewage disposal systems inspected
(2) D Buyer D Seller shall pay to have domestic wells tested for water potability and productivity
(3) D Buyer D Seller shall pay for a natural hazard zone disclosure report prepared by
(4) D Buyer D Seller shall pay for the following inspection or report
(5) 0 Buyer D Seller shall pay for the following inspection or report
C. GOVERNMENT REQUIREMENTS AND RETROFIT:
(1) D Buyer D Seller shall pay for smoke detector installation and/or water heater bracing, if required by Law. Prior to Close Of Escrow, Seller
shall provide Buyer a written statement of compliance in accordance with state and local Law, unless exempt.
(2) 0 Buyer D Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards, inspections and
reports if required as a condition of closing escrow under any Law. ·
D. ESCROW AND TITLE:
(1) [XI Buyer [XI Seller shall pay escrow fee Buyer & Seller to each pay customary closina costs 50/50
Escrow Holder shall be seller choice or ti tIe Company
(2) D Buyer LXI Seller shall pay for owner's title insurance policy specified in paragraph 12E
Owner's title policy to be issued by Seller Choice or ti tIe cOlllPanv
(Buyer shall pay for any title insurance policy insuring Buyer's lender, unless otherwise agreed in writing.)
E. OTHER COSTS:
(1) D Buyer LXI Seller shall pay County transfer tax or transfer fee
(2) [XI Buyer D Seller shall pay City transfer tax or transfer fee
(3) D Buyer D Seller shall pay HOA transfer fee
(4) D Buyer D Seller shall pay HOA document preparation fees
(5) D Buyer D Seller shall pay the cost, not to exceed $ , of a one-year home warranty plan,
issued by
with the following optional coverage:
(6) D Buyer 0 Seller shall pay for
(7) D Buyer D Seller shall pay for
5. STATUTORY DISCLOSURES (INCLUDING LEAD-BASED PAINT HAZARD DISCLOSURES) AND CANCELLATION RIGHTS:
A. (1) Seller shall, within the time specified in paragraph 14A, deliver to Buyer, if required by Law: (i) Federal Lead-Based Paint Disclosures and
pamphlet ("Lead Disclosures"); and (ii) disclosures or notices required by sections 1102 et. seq. and 1103 et. seq. of the California Civil Code
("Statutory Disclosures"). Statutory Disclosures include, but are not limited to, a Real Estate Transfer Disclosure Statement ("TDS"), Natural
Hazard Disclosure Statement ("NHD"), notice or actual knowledge of release of illegal controlled substance, notice of special tax and/or
assessments (or, if allowed, substantially equivalent notice regarding the Mello-Roos Community Facilities Act and Improvement Bond Act of
1915) and, if Seller has actual knowledge, an industrial use and military ordinance location disclosure (C.A.R. Form SSD).
(2) Buyer shall, within the time specified in paragraph 14B(1), return Signed Copies of the Statutory and Lead Disclosures to Seller.
(3) In the event Seller, prior to Close Of Escrow, becomes aware of adverse conditions materially affecting the Property, or any material
inaccuracy in disclosures, information or representations previously provided to Buyer of which Buyer is otherwise unaware, Seller shall
promptly provide a subsequent or amended disclosure or notice, in writing, covering those items. However, a subsequent or amended
disclosure shall not be required for conditions and material inaccuracies ~sclosed in reports ordered and paid for by Buyer.
y Buyer's Initials ( ~) ( ) G:r
Seller's Initials ( ) ( ) =
Copyright@1991-2007, CALIFORNIA ASSOCIATION OF REALTORS@, INC. I I
RPA-CA REVISED 11/07 (PAGE 2 OF 8) Reviewed by Date ij~R~tuJI~~
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 2 OF 8) 1251 West Cami
1251 West Camile Street
Property Address: Santa Ana, CA 92703
Date: March 11, 2008
(4) If any disclosure or notice specified in 5A(1), or subsequent or amended disclosure or notice is delivered to Buyer after the offer is Signed,
Buyer shall have the right to cancel this Agreement within 3 Days After delivery in person, or 5 Days After delivery by deposit in the mail, by
giving written notice of cancellation to Seller or Seller's agent. (Lead Disclosures sent by mail must be sent certified mail or better.)
(5) Note to Buyer and Seller: Waiver of Statutory and Lead Disclosures is prohibited by Law.
B. NATURAL AND ENVIRONMENTAL HAZARDS: Within the time specified in paragraph 14A, Seller shall, if required by Law: (i) deliver to Buyer
earthquake guides (and questionnaire) and environmental hazards booklet; (ii) even if exempt from the obligation to provide a NHD, disclose if the
Property is located in a Special Flood Hazard Area; Potential Flooding (Inundation) Area; Very High Fire Hazard Zone; State Fire Responsibility
Area; Earthquake Fault Zone; Seismic Hazard Zone; and (iii) disclose any other zone as required by Law and provide any other information
required for those zones.
C. MEGAN'S LAW DATABASE DISCLOSURE: Notice: Pursuant to Section 290.46 of the Penal Code, information about specified registered sex
offenders is made available to the public via an Internet Web site maintained by the Department of Justice at www.meganslaw.ca.gov. Depending
on an offender's criminal history, this information will include either the address at which the offender resides or the community of residence and
ZIP Code in which he or she resides. (Neither Seller nor Brokers are required to check this website. If Buyer wants further information, Broker
recommends that Buyer obtain information from this website during Buyer's inspection contingency period. Brokers do not have expertise in this
area.)
6. CONDOMINIUM/PLANNED UNIT DEVELOPMENT DISCLOSURES:
A. SELLER HAS: 7 (or D ) Days After Acceptance to disclose to Buyer whether the Property is a condominium, or is located in a
planned unit development or other common interest subdivision (CAR. Form SSD).
B. If the Property is a condominium or is located in a planned unit development or other common interest subdivision, Seller has 3 (or D )
Days After Acceptance to request from the HOA (CAR. Form HOA): (i) Copies of any documents required by Law; (ii) disclosure of any pending
or anticipated claim or litigation by or against the HOA; (iii) a statement containing the location and number of designated parking and storage
spaces; (iv) Copies of the most recent 12 months of HOA minutes for regular and special meetings; and (v) the names and contact information of
all HOAs governing the Property (collectively, "CI Disclosures"). Seller shall itemize and deliver to Buyer all CI Disclosures received from the HOA
and any CI Disclosures in Seller's possession. Buyer's approval of CI Disclosures is a contingency of this Agreement as specified in paragraph
14B(3).
7. CONDITIONS AFFECTING PROPERTY:
A. Unless otherwise agreed: (i) the Property is sold (a) in its PRESENT physical condition as of the date of Acceptance and (b) subject to
Buyer's Investigation rights; (ii) the Property, including pool, spa, landscaping and grounds, is to be maintained in substantially the same
condition as on the date of Acceptance; and (iii) all debris and personal property not included in the sale shall be removed by Close Of Escrow.
B. SELLER SHALL, within the time specified in paragraph 14A, DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting the
Property, including known insurance claims within the past five years, AND MAKE OTHER DISCLOSURES REQUIRED BY LAW (C.A.R.
Form SSD).
C. NOTE TO BUYER: You are strongly advised to conduct investigations of the entire Property in order to determine its present condition
since Seller may not be aware of all defects affecting the Property or other factors that you consider important. Property improvements
may not be built according to code, in compliance with current Law, or have had permits issued.
D. NOTE TO SELLER: Buyer has the right to inspect the Property and, as specified in paragraph 14B, based upon information discovered in
those inspections: (i) cancel this Agreement; or (ii) request that,you make Repairs or take other action.
8. ITEMS INCLUDED AND EXCLUDED:
A. NOTE TO BUYER AND SELLER: Items listed as included or excluded in the MLS, flyers or marketing materials are not included in the purchase
price or excluded from the sale unless specified in 8B or C.
B. ITEMS INCLUDED IN SALE:
(1) All EXISTING fixtures and fittings that are attached to the Property;
(2) Existing electrical, mechanical, lighting, plumbing and heating fixtures, ceiling fans, fireplace inserts, gas logs and grates, solar systems,
built-in appliances, window and door screens, awnings, shutters, window coverings, attached floor coverings, television antennas, satellite
dishes, private integrated telephone systems, air coolers/conditioners, pool/spa equipment, garage door openers/remote controls, mailbox,
in-ground landscaping, trees/shrubs, water softeners, water purifiers, security systems/alarms; and
(3) The following items:
(4) Seller represents that all items included in the purchase price, unless otherwise specified, are owned by Seller.
(5) All items included shall be transferred free of liens and without Seller warranty.
C. ITEMS EXCLUDED FROM SALE:
9. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A. Buyer's acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified in this
paragraph and paragraph 14B. Within the time specified in paragraph 14B(1), Buyer shall have the right, at Buyer's expense unless otherwise
agreed, to conduct inspections, investigations, tests, surveys and other studies ("Buyer Investigations"), including, but not limited to, the right to: (i)
inspect for lead-based paint and other lead-based paint hazards; (ii) inspect for wood destroying pests and organisms; (iii) review the registered
sex offender database; (iv) confirm the insurability of Buyer and the Property; and (v) satisfy Buyer as to any matter specified in the attached
Buyer's Inspection Advisory (CAR. Form BIA). Without Seller's prior written consent, Buyer shall neither make nor cause to be made: (i) invasive
or destructive Buyer Investigations; or (ii) inspections by any governmental building or zoning inspector or government employee, unless required
by Law.
B. Buyer shall complete Buyer Investigations and, as specified in paragraph 14B, remove the contingency or cancel this Agreement. Buyer shall give
Seller, at no cost, complete Copies of all Buyer Investigation reports obtained by Buyer. Seller shall make the Property available for all Buyer
Investigations. Seller shall have water, gas, electricity and all operable pilot lights o~r Buyer's Investigations and through the date possession is
made available to Buyer. Y Buyer's Initials ( ~ ( ) is)
Seller's Initials ( ) ( ) =
Copyright@ 1991-2007, CALIFORNIA ASSOCIATION OF REAL TORS@, INC. . I I
RPA-CA REVISED 11/07 (PAGE 3 OF 8) . Reviewed by Date ~~~iMt~W~
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 3 OF 8) 1251 West earni
1251 West Camile Street
'Property Address: Santa Ana, CA 92703
Date: March 11, 2008
10. REPAIRS: Repairs shall be completed prior to final verification of condition unless otherwise agreed in writing. Repairs to be performed at Seller's
expense may be performed by Seller or through others, provided that 1he work complies with applicable Law, including governmental permit, inspection
and approval requirements. Repairs shall be performed in a good, skillful manner with materials of quality and appearance comparable to existing
materials. It is understood that exact restoration of appearance or cosmetic items following all Repairs may not be possible. Seller shall: (i) obtain
receipts for Repairs performed by others; (ii) prepare a written statement indicating the Repairs performed by Seller and the date of such Repairs; and
(iii) provide Copies of receipts and statements to Buyer prior to final verification of condition.
11. BUYER INDEMNITY AND SELLER PROTECTION FOR ENTRY UPON PROPERTY: Buyer shall: (i) keep the Property free and clear of liens; (ii)
Repair all damage arising from Buyer Investigations; and (iii) indemnify and hold Seller harmless frorn all resulting liability, claims, demands, damages
and costs. Buyer shall carry, or Buyer shall require anyone acting on Buyer's behalf to carry, policies of liability, workers' compensation and other
applicable insurance, defending and protecting Seller from liability for any injuries to persons or property occurring during any Buyer Investigations or
work done on the Property at Buyer's direction prior to Close Of Escrow. Seller is advised that certain protections may be afforded Seller by recording a
"Notice of Non-responsibility" (CAR. Form NNR) for Buyer Investigations and work done on the Property at Buyer's direction. Buyer's obligations
under this paragraph shall survive the termination of this Agreement.
12. TITLE AND VESTING:
A. Within the time specified in paragraph 14, Buyer shall be provided a current preliminary (title) report, which is only an offer by the title insurer to
issue a policy of title insurance and may not contain every item affecting title. Buyer's review of the preliminary report and any other matters which
may affect title are a contingency of this Agreement as specified in paragraph 14B.
B. Title is taken in its present condition subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other matters, whether
of record or not, as of the date of Acceptance except: (i) monetary liens of record unless Buyer is assuming those obligations or taking the Property
subject to those obligations; and (ii) those matters which Seller has agreed to remove in writing.
C. Within the time specified in paragraph 14A, Seller has a duty to disclose to Buyer all matters known to Seller affecting title, whether of record or not.
D. At Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for stock cooperative or long-term lease, an assignment of stock
certificate or of Seller's leasehold interest), including oil, mineral and water rights if currently owned by Seller. Title shall vest as designated in
Buyer's supplemental escrow instructions. THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEQUENCES.
CONSULT AN APPROPRIATE PROFESSIONAL.
E. Buyer shall receive a CL TAlAL TA Homeowner's Policy of Title Insurance. A title company, at Buyer's request, can provide information about the
availability, desirability, coverage, and cost of various title insurance coverages and endorsements. If Buyer desires title coverage other than that
required by this paragraph, Buyer shall instruct Escrow Holder in writing and pay any il)crease in cost.
13. SALE OF BUYER'S PROPERTY:
A. This Agreement is NOT contingent upon the sale of any property owned by Buyer.
OR B. 0 (If checked): The attached addendum (CAR. Form COP) regarding the contingency for the sale of property owned by Buyer is incorporated
into this Agreement.
14. TIME PERIODS; REMOVAL OF CONTINGENCIES; CANCELLATION RIGHTS: The following time periods may only be extended, altered,
modified or changed by mutual written agreement. Any removal of contingencies or cancellation under this paragraph must be in writing
(CAR. Form CR).
A. SELLER HAS: 7 (or 0 ) Days After Acceptance to deliver to Buyer all reports, disclosures and information for which Seller is
responsible under paragraphs 4, 5A and B, 6A, 7B and 12.
B. (1) BUYER HAS: 17 (or 0 ) Days After Acceptance, unless otherwise agreed in writing, to:
(i) complete all Buyer Investigations; approve all disclosures, reports and other applicable information, which Buyer receives from Seller; and
ap.prove all matters affecting the Property (including lead-based paint and lead-~ased paint hazards as well as other information specified in
paragraph 5 and insurability of Buyer and the Property); and
(ii) return to Seller Signed Copies of Statutory and Lead Disclosures delivered by Seller in accordance with paragraph 5A.
(2) Within the time specified in 14B(1), Buyer may request that Seller make repairs or take any other action regarding the Property (CAR. Form
RR). Seller has no obligation to agree to or respond to Buyer's requests.
(3) By the end of the time specified in 14B(1) (or 21 for loan contingency or 2J for appraisal contingency), Buyer shall, in writing, remove the
applicable contingency (C.A.R. Form CR) or cancel this Agreement. However, if (i) government-mandated inspections/ reports required as a
condition of closing; or (ii) Common Interest Disclosures pursuant to paragraph 6B are not made within the time specified in 14A, then Buyer
has 5 (or 0 ) Days After receipt of any such items, or the time specified in 14B(1), whichever is later, to remove the
applicable contingency or cancel this Agreement in writing.
C. CONTINUATION OF CONTINGENCY OR CONTRACTUAL OBLIGATION; SELLER RIGHT TO CANCEL:
(1) Seller right to Cancel; Buyer Contingencies: Seller, after first giving Buyer a Notice to Buyer to Perform (as specified below), may cancel
this Agreement in writing and authorize return of Buyer's deposit if, by the time specified in this Agreement, Buyer does not remove in writing
the applicable contingency or cancel this Agreement. Once all contingencies have been removed, failure of either Buyer or Seller to close
escrow on time may be a breach of this Agreement.
(2) Continuation of Contingency: Even after the expiration of the time specified in 14B, Buyer retains the right to make requests to Seller,
remove in writing the applicable contingency or cancel this Agreement until Seller cancels pursuant to 14C(1). Once Seller receives Buyer's
written removal of all contingencies, Seller may not cancel this Agreement pursuant to 14C(1).
(3) Seller right to Cancel; Buyer Contract Obligations: Seller, after first giving Buyer a Notice to Buyer to Perform (as specified below), may
cancel this Agreement in writing and authorize return of Buyer's deposit for any of the following reasons: (i) if Buyer fails to deposit funds as
required by 2A or 2B; (ii) if the funds deposited pursuant to 2A or 2B are not good when deposited; (Hi) if Buyer fails to provide a letter as
required by 2G; (iv) if Buyer fails to provide verification as required by 2H or 2L; (v) if Seller reasonably disapproves of the verification provided
by 2H or 2L; (vi) if Buyer fails to return Statutory and Lead Disclosures as required by paragraph 5A(2); or (vii) if Buyer fails to sign or initial a
separate liquidated damage form for an increased deposit as required by paragraph 16. Seller is not required to give Buyer a Notice to
Perform regarding Close of Escrow.
(4) Notice To Buyer To Perform: The Notice to Buyer to Perform (CAR. Form NBP) shall: (i) be in writing; (ii) be signed by Seller; and (iii) give
Buyer at least 24 (or 0 ) hours (or until the time specified in the applicable paragraph, whichever occurs last) to take the applicable
action. A Notice to Buyer to Perform may not be given any earlier than 2 Da~s~ior to the eXPiratio~Plicable time for Buyer to remove
a contingency or cancel this Agreement or meet a 14C(3) obligation. V Buyer's Initials ( ) ( )!S)
Seller's Initials ( ( ) =
Copyright@ 1991-2007, CALIFORNIA ASSOCIATION OF REAL TORS@, INC. I . I
RPA-CA REVISED 11/07 (PAGE 4 OF 8) . Reviewed by Date . i~~~~=~
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 4 OF 8) 1251 West Cami
, 1251 West Cami1e Street
Property Address: Santa Ana, CA 92703 Date: March 11, 2008
D. EFFECT OF BUYER'S REMOVAL OF CONTINGENCIES: If Buyer removes, in writing, any contingency or cancellation rights, unless otherwise
specified in a separate written agreement between Buyer and Seller, Buyer shall conclusively be deemed to have: (i) completed all Buyer
Investigations, and review of reports and other applicable information and disclosures pertaining to that contingency or cancellation right; (ii) elected
to proceed with the transaction; and (iii) assumed all liability, responsibility and expense for Repairs or corrections pertaining to that contingency or
cancellation right, or for inability to obtain financing.
E. EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation pursuant to rights duly exercised under the
terms of this Agreement, Buyer and Seller agree to Sign mutual instructions to cancel the sale and escrow and release deposits to the party entitled
to the funds, less fees and costs incurred by that party. Fees and costs may be payable to service providers and vendors for services and products
provided during escrow. Release of funds will require mutual Signed release instructions from Buyer and Seller, judicial decision or
arbitration award. A party may be subject to a civil penalty of up to $1,000 for refusal to sign such instructions if no good faith dispute
exists as to who is entitled to the deposited funds (Civil Code ~1057.3).
15. FINAL VERIFICATION OF CONDITION: Buyer shall have the right to make a final inspection of the Property within 5 (or ) Days Prior
to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm: (i) the Property is maintained pursuant to paragraph 7A; (ii)
Repairs have been completed as agreed; and (iii) Seller has complied with Seller's other obligations under this Agreement.
16. LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyer's default, Seller shall retain,
as liquidated damages, the deposit actually paid. If the Property is a dwelling with no more than four units, one
of which Buyer intends to occupy, then the amount retained shall be no more than 3% of the purchase price.
Any excess shall be returned to Buyer. Release of funds will require mutual, Signed release instructions from
both Buyer and Seller, judicial decision or arbitration award.
BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED DAMAGES PROVISION FOR ANY INCREASED
DEPOSIT. (C.A.R. FORM RID)
I Buyer's Initials
Seller's Initials
17. DISPUTE RESOLUTION:
A. MEDIATION: Buyer and Seller agree to mediate any dispute or claim arising between them out of this Agreement, or any resulting transaction,
before resorting to arbitration or court action. Paragraphs 17B(2) and (3) below apply to mediation whether or not the Arbitration provision is
initialed. Mediation fees,:if any, shall be divided equally among the parties involved. If, for any dispute or claim to which this paragraph applies, any
party commences an action without first attempting to resolve the matter through mediation, or refuses to mediate after a request has been made,
then that party shall not be entitled to recover attorney fees, even if they would otherwise be available to that party in any such action. THIS
MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED.
B. ARBITRATION OF DISPUTES: (1) Buyer and Seller agree that any dispute or claim in Law or equity arising
between them out of this Agreement or any resulting transaction, which is not settled through mediation,
shall be decided by neutral, binding arbitration, including and subject to paragraphs 17B(2) and (3) below.
The arbitrator shall be a retired judge or justice, or an attorney with at least 5 years of residential real estate
Law experience, unless the parties mutually agree to a different arbitrator, who shall render an award in
accordance with substantive California Law. The parties shall have the right to discovery in accordance with
California Code of Civil Procedure ~1283.05. In all other respects, the arbitration shall be conducted in
accordance with Title 9 of Part III of the California Code of Civil Procedure. Judgment upon the award of the
arbitrator(s) may be entered into any court having jurisdiction. Interpretation of this agreement to arbitrate
shall be governed by the Federal Arbitration Act.
(2) EXCLUSIONS FROM MEDIATION AND ARBITRATION: The following matters are excluded from mediation and arbitration: (i) a judicial
or non-judicial foreclosure or other action or proceeding to enforce a deed of trust, mortgage or installment land sale contract as defined
in California Civil Code ~2985; (ii) an unlawful detainer action; (iii) the filing or enforcement of a mechanic's lien; and (iv) any matter that
is within the jurisdiction of a probate, small claims or bankruptcy court. The filing of a court action to enable the recording of a notice of
pending action, for order of attachment, receivership, injunction, or other provisional remedies, shall not constitute a waiver of the
mediation and arbitration provisions.
(3) BROKERS: Buyer and Seller agree to mediate and arbitrate disputes or claims involving either or both Brokers, consistent with 17A
and B, provided either or both Brokers shall have agreed to such mediation or arbitration prior to, or within a reasonable time after, the
dispute or claim is presented to Brokers. Any election by either or both Brokers to participate in mediation or arbitration shall not result
in Brokers being deemed parties to the Agreement.
"NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE
ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED BY
NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU
MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE
SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND APPEAL, UNLESS
THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION. IF YOU
REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU MAY BE COMPELLED
TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL PROCEDURE. YOUR
AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY."
"WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING
OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION TO NEUTRAL
ARBITRATION." I Buyer's Initials Seller's Initials I
G:r
EOUAlHOUSING
OPPORTUNITY
_ #duyer's Initials (
Y Seller's Initials (
Copyright@ 1991-2007, CALIFORNIA ASSOCIATION OF REAL TORS@, INC. I
RPA-CA REVISED 11/07 (PAGE 5 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-GA PAGE 5 OF 8)
(J1'e. ) (
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1251 WestCami
1251 West Camile Street
Property Address: Santa Ana, CA 92703 Date: March 11, 2008
18. PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS: Unless otherwise agreed in writing, the following items shall be PAID
CURRENT and prorated between Buyer and Seller as of Close Of Escrow: real property taxes and assessments, interest, rents,
HOA regular, special, and emergency dues and assessments imposed prior to Close Of Escrow, premiums on insurance assumed
by Buyer, payments on bonds and assessments assumed by Buyer, and payments on Mello-Roos and other Special Assessment
District bonds and assessments that are now a lien. The following items shall be assumed by Buyer WITHOUT CREDIT toward the
purchase price: prorated payments on Mello-Roos and other Special Assessment District bonds and assessments and HOA special
assessments that are now a lien but not yet due. Property will be reassessed upon change of ownership. Any supplemental tax bills
shall be paid as follows: (i) for periods after Close Of Escrow, by Buyer; and (ii) for periods prior to Close Of Escrow, by Seller. TAX
BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED DIRECTLY BETWEEN BUYER AND SELLER. Prorations shall
be made based on a 3D-day monlh.
19. WITHHOLDING TAXES: Seller and Buyer agree to execute any instrument, affidavit, statement or instruction reasonably necessary
to comply with federal (FIRPTA) and California withholding Law, if required (CAR. Forms AS and AB).
20. MULTIPLE LISTING SERVICE ("MLS"): Brokers are authorized to report to the MLS a pending sale and, upon Close Of Escrow, the
terms of this transaction to be published and disseminated to persons and entities authorized to use the information on terms
approved by the MLS.
21. EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with federal, state and local anti-discrimination Laws.
22. ATTORNEY FEES: In any action, proceeding, or arbitration between Buyer and Seller arising out of this Agreement, the prevailing
Buyer or Seller shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or Seller, except as provided in
paragraph 17A.
23. SELECTION OF SERVICE PROVIDERS: If Brokers refer Buyer or Seller to persons, vendors, or service or product providers
("Providers"), Brokers do not guarantee the performance of any Providers. Buyer and Seller may select ANY Providers of their own
choosing.
24. TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time is of the essence. All understandings between the parties are
incorporated in this Agreement. Its terms are intended by the parties as a final, complete and exclusive expression of their
Agreement with respect to its subject matter, and may not be contradicted by evidence of any prior agreement or contemporaneous
oral agreement. If any provision of this Agreement is held to be ineffective or invalid, the remaining provisions will nevertheless be
given full force and effect. Neither this Agreement nor any provision in it may be extended, amended, modified, altered or
changed, except in writing Signed by Buyer and Seller. ."
25. OTHER TERMS AND CONDITIONS, including attached supplements:
A. III Buyer's Inspection Advisory (CAR. Form BIA)
B. 0 Purchase Agreement Addendum (CAR. Form PM paragraph numbers:
C. 0 Statewide Buyer and Seller Advisory (CAR. Form SBSA)
D. 0 Seller shall provide Buver with a completed Seller Propertv Questionnaire (CAR. form SPQ) within the lime specified in paraqraph 14A
E. ~l ~arties are aware seller is representing both buyer and seller in this transaction
26. DEFINITIONS: As used in this Agreement:
A. "Acceptance" means the time the offer or final counter offer is accepled in writing by a party and is delivered to and personally
received by the other party or that party's authorized agent in accordance with the terms of this offer or a final counter offer.
B. "Agreement" means the terms and conditions of this accepted California Residential Purchase Agreement and any accepted
counter offers and addenda.
C. "C.A.R. Form" means the specific form referenced or another comparable form agreed to by the parties.
D. "Close Of Escrow" means the date the grant deed, or other evidence of transfer of title, is recorded. If the scheduled close of
escrow falls on a Saturday, Sunday or legal holiday, then close of escrow shall be the next business day after the scheduled
close of escrow date.
E. "Copy" means copy by any means including photocopy, NCR, facsimile and electronic.
F. "Days" means calendar days, unless otherwise required by Law.
G. "Days After" means the specified number of calendar days after the occurrence of the event specified, not counting the calendar
date on which the specified event occurs, and ending at 11 :59PM on the final day.
H. "Days Prior" means the specified number of calendar days before the occurrence of the event specified, not counting the
calendar date on which the specified event is scheduled to occur.
I. "Electronic Copy" or "Electronic Signature" means, as applicable, an electronic copy or signature complying with California
Law. Buyer and Seller agree that electronic means will not be used by either party to modify or alter the content or integrity of this
Agreement without the knowledge and consent of the other.
J. "Law" means any law, code, statute, ordinance, regulation, rule or order, which is adopted by a controlling city, county, state or
federal legislative, judicial or executive body or agency.
K. "Notice to Buyer to Perform" means a document (CAR. Form NBP), which shall be in writing and Signed by Seller and shall
give Buyer at least 24 hours (or as otherwise specified in paragraph 14C(4)) to remove a contingency or perform as
applicable.
L. "Repairs" means any repairs (including pest control), alterations, replacements, modifications or retrofitting of the Property
provided for under this Agreement.
M. "Signed" means either a handwritten or electronic signature on an original document, Copy or any counterpart.
N. Singular and Plural terms each include the other, when appropriate.
~ Buyer's Initials (
Seller's Initials (
Copyright@ 1991-2007, CALIFORNIA ASSOCIATION OF REAL TORS@, INC. I
RPA-CA REVISED 11/07 (PAGE 6 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 6 OF 8)
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!E:r
EDUAL HOUSINC
OPPORTUNITY
1251 WestCami
1251 West Camile Street
Property Address: Santa Ana, CA 92703 Date: Marcn 11, 2008
27. AGENCY:
A. DISCLOSURE: Buyer and Seller each acknowledge prior receipt of CAR. Form AD "Disclosure Regarding Real Estate Agency
Relationships."
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt of a disclosure of the
possibility of multiple representation by the Broker representing that principal. This disclosure may be part of a listing agreement,
buyer-broker agreement or separate document (C.A.R. Form DA). Buyer understands that Broker representing Buyer may also
represent other potential buyers, who may consider, make offers on or ultimately acquire the Property. Seller understands that
Broker representing Seller may also represent other sellers with competing properties of interest to this Buyer.
C. CONFIRMATION: The following agency relationships are hereby confirmed for this transaction:
Listing Agent Advantaae REO / Villa Redty Group (Print Firm Name) is the agent
of (check one): ~ the Seller exclusively; or 0 both the Buyer and Seller.
Selling Agent Advantage REO / Villa Realtv Group (Print Firm Name) (if not same
as Listing Agent) is the agent of (check one): 0 the Buyer exclusively; or lXI the Seller exclusively; or 0 both the Buyer and
Seller. Real Estate Brokers are not parties to the Agreement between Buyer and Seller.
28. JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:
A. The following paragraphs, or applicable portions thereof, of this Agreement constitute the joint escrow instructions of
Buyer and Seller to Escrow Holder, which Escrow Holder is to use along with any related counter offers and addenda, and any
additional mutual instructions to close the escrow: 1, 2, 4, 12, 13B, 14E, 18, 19, 24, 25B and 25D, 26, 28, 29, 32A, 33 and
paragraph D of the section titled Real Estate Brokers on page 8. If a Copy of the separate compensation agreement(s) provided
for in paragraph 29 or 32A, or paragraph D of the section titled Real Estate Brokers on page 8 is deposited with Escrow Holder
by Broker, Escrow Holder shall accept such agreement(s) and payout from Buyer's or Seller's funds, or both, as applicable, the
Broker's compensation provided for in such agreement(s). The terms and conditions of this Agreement not set forth in the
specified paragraphs are additional matters for th.e information of Escrow Holder, but about which Escrow Holder neEld not be
concerned. Buyer and Seller will receive Escrow Holder's general provisions directly from Escrow Holder and will execute such
provisions upon Escrow Holder's request. To the extent the general provisions are inconsistent or conflict with this Agreement,
the general provisions will control as to the duties and obligations of Escrow Holder only. Buyer and Seller will execute additional
instructions, documents and forms provided by Escrow Holder that are reasonably necessary to close the escrow.
B. A Copy of this Agreement shall be delivered to Escrow Holder within 3 business days after Acceptance
(or 0 ). Buyer and Seller authorize Escrow
Holder to accept and rely on Copies and Signatures as defined in this Agreement as originals, to open escrow and for other
purposes of escrow. The validity of this Agreement as between Buyer and Seller is not affected by whether or when Escrow
Holder Signs this Agreement. ~ ~
C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraphs 29, 32A and paragraph D of the
section titled Real Estate Brokers on page 8. Buyer and Seller irrevocably assign to Brokers compensation specified in
paragraphs 29 and 32A, respectively, and irrevocably instruct Escrow Holder to disburse those funds to Brokers at Close Of
Escrow or pursuant to any other mutually executed cancellation agreement. Compensation instructions can be amended or
revoked only with the written consent of Brokers. Escrow Holder shall immediately notify Brokers: (i) if Buyer's initial or any
additional deposit is not made pursuant to this Agreement, or is not good at time of deposit with Escrow Holder; or (ii) if Buyer
and Seller instruct Escrow Holder to cancel escrow.
D. A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be
delivered to Escrow Holder within 2 business days after mutual execution of the amendment.
29. BROKER COMPENSATION FROM BUYER: If applicable, upon Close Of Escrow, Buyer agrees to pay compensation to Broker as
specified in a separate written agreement between Buyer and Broker.
30. TERMS AND CONDITIONS OF OFFER:
This is an offer to purchase the Property on the above terms and conditions. All paragraphs with spaces for initials by Buyer and
Seller are incorporated in this Agreement only if initialed by all parties. If at least one but not all parties initial, a counter offer is
required until agreement is reached. Seller has the right to continue to offer the Property for sale and to accept any other offer at any
time prior to notification of Acceptance. Buyer has read and acknowledges receipt of a Copy of the offer and agrees to the above
confirmation of agency relationships. If this offer is accepted and Buyer subsequently defaults, Buyer may be responsible for
payment of Brokers' compensation. This Agreement and any supplement, addendum or modification, including any Copy, may be
Signed in two or more counterparts, all of which shall constitute one and the same writing.
~ Buyer's Initials (
Seller's Initials (
Copyright@ 1991-2007, CALIFORNIA ASSOCIATION OF REAL TORS@, INC. I
RPA-CA REVISED 11/07 (PAGE 7 OF 8) Reviewed by Date
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 7 OF 8)
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EOUALHOUSING
OPPORTUNITY
1251 West Cami
1251 West Camile Street
Property Address: Santa Ana, CA 92703 Date: Maran 11, 2008
31. EXPIRATION OF OFFER: This offer shall be deemed revoked and the deposit shall be returned unless the offer is Signed by Seller and a Copy of the
Signed offer is personally received by Buyer, or by PJ Jahan9"iri wi th Villa Real ty Group , who is
authorized to receive it by 5:00 PM on the third Day after this offer is signed by Buyer (or, if checked, 0 by
../'.~~E:- 11. 201Q/jr;;:: 2008 Da~Ef.~;.}'/~DAMWPM).
Citv Of Santa Ana ~rt> N."'R~ ~v"~~q~~ _ ;y /f2/TA L
(Print name) ~int name) . .. ~
(Address)
32. BROKER COMPENSATION FROM SELLER:
A. Upon Close Of Escrow, Seller agrees to pay compensation to Broker as specified in a separate written agreement belween Seller and Broker.
B. If escrow does not close, compensation is payable as specified in that separate written agreement.
33. ACCEPTANCE OF OFFER: Seller warrants that Seller is the owner of the Property, or has the authority to execute this Agreement. Seller accepts the
above offer, agrees to sell the Property on the above terms and conditions, and agrees to the above confirmation of agency relationships. Seller has
read and acknowledges receipt of a Copy of this Agreement, and authorizes Broker to deliver a Signed Copy to Buyer.
o (If checked) SUBJECT TO ATTACHED COUNTER OFFER, DATED
Date Date
SELLER
SELLER
(Print name)
(Address)
(Print name)
/
(Initials)
CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was personally received by Buyer or Buyer's authorized
agent on (date) at 0 AM 0 PM. A binding Agreement is created when
a Copy of Signed Acceptance is personally received by Buyer or Buyer's authorized agent whether or not confirmed in
this document. Completion of this confirmation is not legally required in order to create a binding Agreement; it is solely
intended to evidence the date that Confirmation of Acceptance has occurred.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seller.
B. Agency relationships are confirmed as stated in paragraph 27.
C. If specified in paragraph 2A, Agent who submitted the offer for Buyer acknowledges receipt of deposit.
D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker (Selling Firm) and Cooperating Broker agrees to
accept, out of Listing Broker's proceeds in escrow: (i) the amount specified in the MLS, provided Cooperating Broker is a Participant of the MLS in
which the Property is offered for sale or a reciprocal MLS; or (ii) 0 (if checked) the amount specified in a separate written agreement (CAR. Form
CBC) between Listing Broker and Cooperating Broker.
R~al Estate Broker (Selling Firm) Advantaae REO / Villa Realtv G.tpIIP DRE Lic. # 00875475
By PJ Jahanairi ORE Lic. # 008754 75 Date March 11 , 2008
Address 1421 North Wanda Road, Suite 120 City Orange State CA Zip 92867
Telephone (714) 288-8600 Fax (714) 289-1206 E-mail p;@advantage-reo. COJll
Real Estate Broker (Listing Firm) Advantaae REO / Villa Real tv Group
By PJ Jahan9"iri License # 00875475
Address 1421 North Wanda Road, Suite 120 City 92867
Telephone (714) 288-8600 Fax (714) 289-1206
License # 00875475
Date March 11 , 2008
State CA Zip 92867
E-mail p;@villarealtvaroup.cOJll
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement, (if checked, 0 a deposit in the amount of $ ),
counter offer numbers and
, and agrees to act as Escrow Holder subject to paragraph 28 of this Agreement, any
supplemental escrow instructions and the terms of Escrow Holder's general provisions.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is
Escrow Holder seller choice of ti tIe Companv Escrow #
By Date
Address
Phone/Fax/E-mail / /
Escrow Holder is licensed by the California Department of 0 Corporations,D Insurance,D Real Estate. License #
(_/ --> REJECTION OF OFFER:
(Seller's Initials)
No counter offer is being made. This offer was reviewed and rejected by Seller on
(Date)
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS@ (CAR.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY
PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL.
This form is available for use by the entire real estate industry. It is not intended to identify the user as aREAl lOR@. REAL TOR@ is a registered collective membership mark which may
be used only by
members of the NATIONAL ASSOCIATION OF REAL TORS@who subscribe to its Code of Ethics.
[J, Published and Distributed by: AP
N REAL ESTATE BUSINESS SERVICES, INC.
e a subsidiary of the California Association of REAL TORS@
'. 525 South Virgil Avenue, Los Angeles, California 90020
RPA-CA REVISED 11/07 (PAGE 8 OF 8)
CALIFORNIA RESIDEN
Date
is)
EOUAlHOUSING
OPPORTUNITY
Jose Sandoval
O'f~StftH~~~iftWhe, PAGE 8 OF 8)
1251 West Cami
..:,
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CALIFORNIA
ASSOCIATION
OF REALTORS@
BUYER'S INSPECTION ADVISORY
(CAR. Form BIA-A, Revised 10/02)
Property Address: 1251 West Camile Street, Santa Ana CA 92703 ("Property").
A. IMPORTANCE OF PROPERTY INVESTIGATION: The physical condition of the land and improvements being purchased is not
guaranteed by either Seller or Brokers. For this reason, you should conduct thorough investigations of the Property personally and with
professionals who should provide written reports of their investigations. A general physical inspection typically does not cover all aspects
of the Property nor items affecting the Property that are not physically located on the Property. If the professionals recommend further
investigations, including a recommendation by a pest control operator to inspect inaccessible areas of the Property, you should contact
qualified experts to conduct such additional investigations.
B. BUYER RIGHTS AND DUTIES: You have an affirmative duty to exercise reasonable care to protect yourself, including discovery of
the legal, practical and technical implications of disclosed facts, and the investigation and verification of information and facts that you
know or that are within your diligent attention and observation. The purchase agreement gives you the right to investigate the Property. If
you exercise this right, and you should, you must do so in accordance with the terms of that agreement. This is the best way for you to
protect yourself. It is extremely important for you to read all written reports provided by professionals and to discuss the results of
inspections with the professional who conducted the inspection. You have the right to request that Seller make repairs, corrections or
take other action based upon items discovered in your investigations or disclosed by Seller. If Seller is unwilling or unable to satisfy your
requests, or you do not want to purchase the Property in its disclosed and discovered condition, you have the right to cancel the
agreement if you act within specific time periods. If you do not cancel the agreement in a timely and proper manner, you may be in
breach of contract.
C. SELLER RIGHTS AND DUTIES: Seller is required to disclose to you material facts known to him/her that affect the value or
desirability of the Property. However, Seller may not be aware of some Property defects or conditions. Seller does not have an obligation
to inspect lhe Property for your benefit nor is Seller obligated to repair, correct or otherWise cure known defects that are disclosed to you
or previously unknown defects that are discovered by you or your inspectors during escrow. The purchase agreement obligates Seller to
make the Property available to you for investigations. .
D. BROKER OBLIGATIONS: Brokers do not have expertise in all areas and therefore cannot advise you on many items, such as soil
stability, geologic or environmental conditions, hazardous or illegal controlled substances, structural conditions of the foundation or other
improvements, or the condition of the roof, plumbing, heating, air conditioning, electrical, sewer, septic, waste disposal, or other system.
The only way to accurately determine the condition of the Property is through an inspection by an appropriate professional selected by
you. If Broker gives you referrals to such professionals, Broker does not guarantee their performance. You may select any professional
of your choosing. In sales involving residential dwellings with no more than four units, Brokers have a duty to make a diligent visual
inspection of the accessible areas of the Property and to disclose the results of that inspection. However, as some Property defects or
conditions may 1/1ot be discoverable from a visual inspection, it is possible Brokers are not aware of them. If you have entered into a
written agreement with a Broker, the specific terms of that agreement will determine the nature and extent of that Broker's duty to you.
YOU ARE STRONGLY ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF ALL ASPECTS OF THE PROPERTY. IF
YOU DO NOT DO SO, YOU ARE ACTING AGAINST THE ADVICE OF BROKERS.
E. YOU ARE ADVISED TO CONDUCT INVESTIGATIONS OF THE ENTIRE PROPERTY, INCLUDING, BUT NOT LIMITED TO THE
FOLLOWING:
1. GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS: Foundation, roof, plumbing, heating, air
conditioning, electrical, mechanical, security, pool/spa, other structural and non-structural systems and components, fixtures,
built-in appliances, any personal property included in the sale, and energy efficiency of the Property. (Structural engineers are best
suited to determine possible design or construction defects, and whether improvements are structurally sound.)
2. SQUARE FOOTAGE, AGE, BOUNDARIES: Square footage, room dimensions, lot size, age of improvements and boundaries. Any
numerical statements regarding these items are APPROXIMATIONS ONLY and have not been verified by Seller and cannot be
verified by Brokers. Fences, hedges, walls, retaining walls and other natural or constructed barriers or markers do not necessarily
identify true Property boundaries. (Professionals such as appraisers, architects, surveyors and civil engineers are best suited to
determine square footage, dimensions and boundaries of the Property.)
3. WOOD DESTROYING PESTS: Presence of, or conditions likely to lead to the presence of wood destroying pests and organisms
and other infestation or infection. Inspection reports covering these items can be separated into two sections: Section 1 identifies
areas where infestation or infection is evident. Section 2 identifies areas where there are conditions likely to lead to infestation or
infection. A registered structural pest control company is best suited to perform these inspections.
4. SOIL STABILITY: Existence of fill or compacted soil, expansive or contracting soil, susceptibility to slippage, settling or movement,
and the. adequacy of drainage. (Geotechnical engineers are best suited to determine such conditions, causes and remedies.)
The copyright laws of the United States (Title 17 U.S. Code) forbid the _;.
unauthorized reproduction of this form, or any portion thereof, by photocopy y Buyer's Initials ( ~
machine or any other means, including facsimile or computerized formats. Seller's Initials ( ) (
Copyright @ 1991-2004, CALIFORNIA ASSOCIATION OF REALTORS@, I
INC. ALL RIGHTS RESERVED. Reviewed by Date
BIA-A REVISED 10/02 (PAGE 1 OF 2)
BUYER'S INSPECTION ADVISORY BIA-A PAGE 1 OF 2
Agent: PJ Jahangiri Phone: (714) 288-8600 Fax: (714) 289.1206
Broker: Villa Realty Group 1421 N. Wanda Rd. Suite 120 ,Orange CA 92867
tS:t
EQUAL HOUSING
OPPORTUNITY
Prepared using WINForms@ software
.-
. ,
.Property Address: 1251 West Cami~e Street, Santa Ana CA 92703 Date: March 11, 2008
5. ROOF: Present condition, age, leaks, and remaining useful life. (Roofing contractors are best suited to determine these conditions.)
6. POOL/SPA: Cracks, leaks or operational problems. (Pool contractors are best suited to determine these conditions.)
7. WASTE DISPOSAL: Type, size, adequacy, capacity and condition of sewer and septic systems and components, connection to
sewer, and applicable fees.
8. WATER AND UTILlTES; WELL SYSTEMS AND COMPONENTS: Water and utility availability, use restrictions and costs. Water
quality, adequacy, condition, and performance of well systems and components.
9. ENVIRONMENTAL HAZARDS: Potential environmental hazards, including, but not limited to, asbestos, lead-based paint and other
lead contamination, radon, methane, other gases, fuel oil or chemical storage tanks, contaminated soil or water, hazardous waste,
waste disposal sites, electromagnetic fields, nuclear sources, and other substances, materials, products, or conditions (including
mold (airborne, toxic or otherwise), fungus or similar contaminants). (For more information on these items, you may consult an
appropriate professional or read the booklets "Environmental Hazards: A Guide for Homeowners, Buyers, Landlords and Tenants,"
"Protect Your Family From Lead in Your Home" or both.)
10. EARTHQUAKES AND FLOODING: Susceptibility of the Property to earthquake/seismic hazards and propensity of the Property to
flood. (A Geologist or Geotechnical Engineer is best suited to provide information on these conditions.)
11. FIRE, HAZARD AND OTHER INSURANCE: The availability and cost of necessary or desired insurance may vary. The location of
the Property in a seismic, flood or fire hazard zone, and other conditions, such as the age of the Property and the claims history of
the Property and Buyer, may affect the availability and need for certain types of insurance. Buyer should explore insurance options
early as this information may affect other decisions, including the removal of loan and inspection contingencies. (An insurance agent
is best suited to provide information on these conditions.)
12. BUILDING PERMITS, ZONING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certificates, zoning, other
governmental limitations, restrictions, and requirements affecting the current or future use of the Property, its development or size.
(Such information is available from appropriate governmental agencies and private information providers. Brokers are not qualified to
review or interpret any such information.)
13. RENTAL PROPERTY RESTRICTIONS: Some cities and counties impose restrictions that limit the amount of rent that can be
charged, the maximum number of occupants; and the right of a landlord to terminate a tenancy. Deadbolt or other locks and security
systems for doors and windows, including window bars, should be examined to determine whether they satisfy legal requirements.
(Government agencies can provide information about these restrictions and other requirements.)
14. SECURITY AND SAFETY: .~tate and local Law may require the installation of barriers, access alarms, self-latching mechanisms
and/or other measures to decrease the risk to children and other persons of existing swimming pools and hot tubs, as well as various
fire safety and other measures concerning other features of the Property. Compliance requirements differ from city to city and county
to county. Unless specifically agreed, the Property may not be in compliance with these requirements. (Local government agencies
can provide information about these restrictions and other requirements.)
15. NEIGHBORHOOD, AREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS: Neighborhood or area conditions, including
schools, proximity and adequacy of law enforcement, crime statistics, the proximity of registered felons or offenders, fire protection,
other government services, availability, adequacy and cost of any speed-wired, wireless internet connections or other
telecommunications or other technology services and installations, proximity to commercial, industrial or agricultural activities,
existing and proposed transportation, construction and development lhat may affect noise, view, or traffic, airport noise, noise or odor
from any source, wild and domestic animals, other nuisances, hazards, or circumstances, protected species, wetland properties,
botanical diseases, historic or other governmentally protected sites or improvements, cemeteries, facilities and condition of common
areas of common interest subdivisions, and possible lack of compliance with any governing documents or Homeowners' Association
requirements, conditions and influences of significance to certain cultures and/or religions, and personal needs, requirements and
preferences of Buyer.
Buyer and Seller acknowledge and agree that Broker: (i) Does not decide what price Buyer should payor Seller should accept; (ii) Does not
guarantee the condition of the Property; (iii) Does not guarantee the performance, adequacy or completeness of inspections, services, products or
repairs provided or made by Seller or others; (iv) Does not have an obligation to conduct an inspection of common areas or areas off the site of the
Property; (v) Shall not be responsible for identifying defects on the Property, in common areas, or offsite unless such defects are visually observable
by an inspection of reasonably accessible areas of the Property or are known to Broker; (vi) Shall not be responsible for inspecting public records or
permits concerning the title or use of Property; (vii) Shall not be responsible for identifying the location of boundary lines or other items affecting title;
(viii) Shall not be responsible for verifying square footage, representations of others or information contained in Investigation reports, Multiple Listing
Service, advertisements, flyers or other promotional material; (ix) Shall not be responsible for providing legal or tax advice regarding any aspect of a
transaction entered into by Buyer or Seller; and (x) Shall not be responsible for providing other advice or information that exceeds the knowledge,
education and experience required to perform real estate licensed activity. Buyer and Seller agree to seek legal, tax, insurance, title and other
desired assistance from appropriate professionals.
Seller each acknowledge that they have read, understand, accept and have received a Copy of
e read it carefully.
~/11/2008
Date Buyer Signature Date
Ana
Seller Signature
Date
Seller Signature
Date
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS@(CAR.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
This form is available for use by the entire real estate industry. It is not intended to identify the user as aREAL TOR@. REAL TOR@ is a registered collective membership mark
which may be u. sed only by members of the NATIONAL ASSOCIATION OF REALTORS@WhosubscribetoitsCodeofEthiCS'!E)
.~ Published and Distributed by: _
~~4. . . ... REAL ESTATE BUSINESS SERVICES, INC. I -
\....~'(C'lIIl 'l a subsidiary of the California Association of REAL TORS@ Reviewed by Date EQUAL HOUSING
TheSystem lor Success' 525 South Virgil Avenue, Los Angeles, California 90020 OPPORTUNITY
BIA-A REVISED 10/02 (PAGE 2 OF 2)
BUYER'S INSPECTION ADVISORY (BIA-A PAGE 2 OF 2)
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,PlJtchasirig[)i"i~iori M~16
.1.~1~r5t;- ~~~:::;:";:~1l574-KRC) I D",w '"",,"
44751 Village Court Drive, Suite 300
Palm Desert, CA 92260
L
FEDERAL 1.0. NUMBER
2.
SOCIAL SECURITY NUMBER
NUMBER
303038
~ D INDIVIDUAL
D PARTNERSHIP
D CORPORATION
City's
WIRE TRANSFER
3$S 7s-'
3'~~~ll~1~~~~:?,\;
5~R.
49900
6. DEPARTMENT
Public Wor
10. INVOICE DATE
7. DIVISION a.DATE
!)esi 04/15/08
11. DATE PAYMENT REQUIRED
04/17/08
14. TOTAL AM.9JNT OF DPV
4264,940.00
13. TRAVEL REQ #
Account #
ABA #
INSTRUCTIONS:
'.
. Use for payment of materials up to $200.00, services up to
$500.00, or reimbursements, travel, subscriptions, memberships and
payment of approved agreements (must be filed in F. & M. S.
or attached).
. Staple original invoice, receipt, copy of order form, subscription,
etc. to Purchasing copy.
· Staple payment stub, remittance copy of invoice, order form,
registration, etc. to Payees copy.
12. Indicate title and date of documents that relate to this voucher
(agreElment, contract, Council approval date).
15. Type complete description/purpose.
16. Signature required to authorize purchase and/or acknowledge
receipt of goods/services.
16. I hereby certify the above is essential to the
operation of this department and that budgeted
funds are available.
The goods and/or services are:
D RECEIVED; D NOT RE
~D~
PHONE
ACCOUNTING
APPROVAL
PURCHASING
APPROVAL
ri3.
r-)~-
AGREEMENT ON FILE IN ACCOUNTING
)2lYES DNa
TRAVEL REQUEST
DYES D NA
~\\~~~ ~ ~t A~ ~~::~
EXECUTIVE DIRECTOR OF FINANCE !\ND
CS 408 Rev. 6/06
FINANCE & MANAGEMENT SERVICES
WIRE TRANSFER REQUEST
TO:
CHRISTINE CALDERON
TREASURY MANAGER
DATE TRANSFER IS REQUIRED:
SEND WIRE TRANSFER TO:
PLEASE REFERENCE:
VENDOR #
ICN#
AMOUNT
$ 264,940.00
ACCOUNT #
59-553-6631-49960
REASON
DATE: April 15,2008
April 17, 2008
Comerica Bank California
2321 Rosecrans Ave., Suite 5000
E1Segundo,CA 90245
Account # 1892400175
ABA# 121137522
204-11574-KRC
Acquisition of parcel for Bristol Widening, Project 06-1500
1251 W. Camille Street
APN # 010-111-02
DPV # 303036
DEPARTMENT APPROVAL:
~~~'It~r 0 ~ k ~
Francisco Gutierrez
Executive Director
f~
~ I ,,$ { 00
Date
Authorize funding for the purchase of additional software, services,
and maintenance under the existing agreement with Compulink
Management Center, Inc. (agreement # A-2004-004) for the continued
expansion of the Citywide Laserfiche system in an amount not to
exceed $240,000 for a three year period.
Recommended Action for remaining agreements:
Authorize the City Manager and Clerk of the Council to execute the
following agreements, subject to non-substantive changes approved
by the City Manager and City Attorney. (Items 25.8. through 25.0.)
25.B. AGMT NO. 2008-059 - PARALEGAL SERVICES - Execute an
amendment with Beauchamp Enterprises Inc., increasing the hourly rate
from $40.00 to $58.00 - City Attorney's Office
25.C. AGMT NO. 2008-060 - ENVIRONMENTAL CONSULTING - With Jones
and Stokes in the amount of $10,000 - Planning & Building Agency
25.D. AGMT NO. 2008-061 - PURCHASE AGREEMENT FOR BRISTOL
STREET CORRIDOR (PROJECT 06-1500) - With Carrington Mortgage
Services, LLC for the purchase of the property located at 1251 W. Camile
Street in the amount of $260,000 - Public Works Agency
25.E. AGMT NO. 2008-062 - CURBSIDE COLLECTION OF UNIVERSAL
WASTE AND APPROPRIATION ADJUSTMENT ACCEPTING GRANT
FUNDS - PUBLIC WORKS AGENCY
Motion:
1. AGMT NO. 2008-062 - With Curbside Inc. in an amount not to
exceed $40,000 - Public Works Agency.
2. Approve an appropriation adjustment. (Requires five affirmative
votes)
APPROPRIATION ADJUSTMENT NO. 08-095 - Accepting $40,000 in
grant funds from the County of Orange into the refuse collection fund
and appropriating $40,000 to the refuse collection fund's account for
other contractual services.
25.F. AGMT NO. 2008-063 - VETERINARY SERVICES FOR THE SANTA ANA
ZOO AT PRENTICE PARK - Execute an amendment with Dr. Lorrie
Boldrick in the amount of $68,000 for a one-year term - Parks, Recreation
& Community Services Agency
CITY COUNCIL MINUTES
10
APRIL 7, 2008