HomeMy WebLinkAboutPARNELL, VINCENT R. AND JEANETTE, HUSBAND & WIFE - 2014A- 2014 -214
PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF REAL PROPERTY
AND BILATERAL ESCROW INSTRUCTIONS
THIS AGREEMENT (hereinafter "PSA "), entered into on AugAS 014,
between the CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the
Constitution and laws of the State of California (hereinafter 'City" or `Buyer"), and Vincent R. Parnell and
Jeanette Parnell, Husband and Wife as Community Property (hereinafter "Seller "), regardless of number or
gender;
THEREFORE, for and in consideration of their mutual promises, covenants and agreements, and subject
to the terms, conditions and provisions of this PSA, Seller agrees to sell to City, and City agrees to
purchase from Seller, that certain real property (hereinafter "Said Real Property ") legally described as
follows:
SEE EXHIBIT "A" — Legal Description
ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF
(Commonly known as 1401 N. Bristol Street, Santa Ana, CA)
(APN: 405- 272 -16)
Said purchase and sale of Said Real Property shall be in accordance with and subject to all of the following
terms, conditions, promises, covenants, agreements and provisions, to wit:
1. Conveyance by Seller. Seller agrees to convey said real property to City, by Grant Deed, at the
office of First American Title Insurance Company, 2 First American Way, Santa Ana, California, within thirty
(30) days from and after the date on which the City has approved this Agreement.
2. Title to be Conveyed. Seller agrees that, except as may hereinafter be otherwise expressly
provided, said real property shall be conveyed by Seller to City, as aforesaid, free and clear of any and all
conditions, restrictions, reservations, exceptions, easements, assessments, profits, limitations,
encumbrances (whether monetary or non - monetary, general or specific, including any and all leasehold
interests), liens, clouds or defects in title except those exceptions shown in Paragraph 15 below. Seller
hereby warrants that the title to said real property to be conveyed by Seller to City shall be free and clear as
provided above. Seller further agrees that acceptance by City of any deed to said real property, with or
without knowledge of any condition, restriction, reservation, exception, easement, assessment, profit,
limitation, encumbrance (whether monetary or non- monetary, general or specific, and including any and all
leasehold interests), lien, cloud or defect in title, shalt not constitute a waiver by City of its right to the full and
clear title hereinabove agreed to be conveyed by Seller to City, nor of any right which might accrue to City
because of the failure of Seller to convey title as hereinabove provided.
3. Title Insurance. Seller agrees to deliver to City, concurrently with the conveyance of said real
property to City, within the time and at the place hereinabove specified for said conveyance of said real
property, a policy of title insurance to be issued by the above mentioned title company, with the City therein
named as the insured, in the amount of Three Hundred Thirty One Thousand AND NO /100 Dollars
($331,000.00) insuring the title of the City to said real property is free and clear of any and all conditions,
restrictions, reservations, exceptions, easements, assessments, profits, limitations, encumbrances (whether
monetary or non - monetary, general or specific, and including any and all leasehold interests), liens, clouds or
defects in title, excepting such specific ones as city may hereinafter expressly agree to take subject to.
Acceptance by City of any such policy of insurance, whether such insurance complies with the requirements
of this paragraph or not, shall not constitute a waiver by City of its right to such insurance as is herein
required of Seller, nor a waiver by the City of any rights of action for damages or any other rights which may
accrue to City by reason of the failure of Seller to convey title or to provide title insurance as required in this
Agreement.
4. Escrow. City agrees to open an escrow at the office of First American Title Insurance Company, 2
First American Way, Santa Ana, California, (the Escrow Agent) within five (5) days from and after the date on
which the City has approved this Agreement. This Agreement constitutes the joint escrow instructions of the
City and the Seller and a duplicate original of this Agreement shall be delivered to the Escrow Agent upon
the opening of the escrow. Escrow to close within 90 days of the City's execution of this Agreement.
The Escrow Agent hereby is empowered to act under this Agreement, and upon indicating its acceptance of
this Section 4 and of the General Provisions described in Exhibit "B" attached hereto and incorporated
herein by this reference, in writing, delivered to the City and to the Seller within five (5) days after delivery of
this Agreement, shall carry out its duties as Escrow Agent hereunder.
City agrees to bear and Escrow Agent is hereby authorized to charge to the City the cost of any transfer
taxes, recording fees, cost of title insurance, reconveyance fees, document preparation fees, escrow fees
and any other closing costs incidental to the conveying of said real property to City. Penalties for prepayment
of bona fide obligations secured by any existing deed of trust or mortgage shall be waived pursuant to Civil
Code Procedures Section 1265.240.
The liability to the Escrow Agent under this Agreement is limited to performance of the obligations imposed
upon it under Section 4, Section 6, Section 8 and Exhibit "B" of the General Provisions of this Agreement.
5. Property Taxes. Such real property taxes, if any, on said real property for the fiscal year within
which said real property is conveyed to City as are unpaid at the time of said conveyance shall be cleared
and paid in accordance with the provisions of Section 4986 of the Revenue and Taxation Code of the State
of California. Seller shall be eligible for a refund under Section 5096.7 of the Revenue and Taxation Code of
the State of California for that portion of property taxes on said real property for said fiscal year which have
been paid prior to the date the deed conveying said real property to City is recorded which is allocable to that
portion of the fiscal year which begins on the date the deed conveying said real property to City is recorded
and made uncollectible if unpaid by reason of Section 4986 of the Revenue and Taxation Code of the State
of California. All unpaid taxes on said real property for any and all years prior to the fiscal year within which
said conveyance is made shall be paid by Seller before conveyance of said real property to City.
6. Payment of Purchase Price. City agrees to pay to Seller, and Seller agrees to accept from City, as
and for the full purchase price for said real property, fixtures & equipment (improvements pertaining to the
realty), goodwill (if any), and severance damages, the total sum of Three Hundred Thirty One Thousand AND
NO /100 Dollars ($331,000.00). City agrees to deposit said purchase price in escrow with the Escrow Agent
within THIRTY (30) days from and after the date on which the City has approved this Agreement, and the
Escrow Agent is hereby authorized to pay the same to Seller upon and after:
(a) Conveyance of said real property by Seller to City as hereinabove provided;
(b) Acceptance by City of a Grant Deed conveying said real property to City;
(c) Delivery to City of the policy of title insurance as hereinabove provided;
(d) Recordation of the Deed conveying said real property to City.
7. Possession. Seller agrees to deliver to City, on the date the Deed conveying said real property to
City is recorded, quiet and peaceful possession of said real property, which shall be made free by Seller of all
personal property.
8. Rental and Occupancy By Seller. Seller agrees to execute a complete, current and correct
statement of rentals (Seller Estoppel) on a form furnished to Seller by City and deliver same to City within
fifteen (15) days hereof with copies of any written leases or rental agreements attached. All rents will be
prorated as of the close of escrow on the basis of a 30 -day monthl360 -day year consistent with that
statement, subject to approval of City. Seller hereby agrees not to rent any units on the premises which are
vacant as of the date that this agreement is executed by seller, or which may be vacated by present
occupants prior to close of escrow. In return, the City agrees to reimburse seller lost rentals incurred by
keeping units vacant through the close of escrow. Seller agrees that any and all Tenant Security Deposits
pertaining to the subject property collected by or in the possession of Seller prior to the close of escrow shall
be transferred to and become the property of City during escrow.
Seller hereby warrants that the rental statement referred to shall include the terms of all rental agreements,
tenancies, and leases (written, unwritten, recorded, or unrecorded) and Seller agrees to hold City harmless
from all liability from any such leases or agreements. Seller also warrants that there are no oral or written
leases on all or any portion of the subject property exceeding a period of one month.
9. Waivers. The waiver by City of any breach of any covenant or agreement herein contained on the
part of the Seller shall not be deemed or held to be a waiver of any subsequent or other breach of said
covenant or agreement nor a waiver of any breach of any other covenants or agreements contained herein.
10. Heirs Assigns, Successors -in- Interest. This PSA, and all the terms, covenants and conditions
hereof, shall apply to and bind the heirs, executors, administrators, successors and assigns of the respective
Parties hereto.
11. Time is of the Essence. In all matters and things hereunder to be done and in all payments
hereunder to be made, time is and shall be of the essence.
12. Just Compensation. Seller acknowledges and agrees that said purchase price is just compensation
at fair market value for said real property and includes payment for fixtures & equipment (improvements
pertaining to the realty), goodwill (if any), and severance damages.
13. Notices. The mailing address of the City of Santa Ana is 20 Civic Center Plaza, M -36, P.O. Box
1988, in the City of Santa Ana 92701, County of Orange, State of California. The mailing address of the
Seller is:
Vincent R. and Jeanette Parnell
16632 Redwood St.
Fountain Valley, CA 92708
14. Exceptions. City agrees to accept title to said real property subject to the following: NONE.
15. Entire Agreement. It is mutually agreed that the Parties hereto have herein set forth the whole of
their Agreement. Performance of this PSA by City shall lay at rest, each, every, and all issue(s) that were
raised or could have been raised in connection with the acquisition of Said Real Property by City.
16. Hazardous Waste, Neither Seller nor, to the best of Seller's knowledge, any previous owner, tenant,
occupant, or user of the Property used, generated, released, discharged, stored, or disposed of any
hazardous waste, toxic substances, or related materials ( "Hazardous Materials ") on, under, in, or about the
Property, or transported any Hazardous Materials to or from the Property. Seller shall not cause or permit
the presence, use, generation, release, discharge, storage, or disposal of any Hazardous Materials on,
under, in, or about, or the transportation of any Hazardous Materials to or from, the Property. The term
"Hazardous Material" shall mean any substance, material, or waste which is or becomes regulated by any
local governmental authority, the State of California, or the United States Government, including, but not
limited to, any material or substance which is (1) defined as a "hazardous waste ", "extremely hazardous
waste ", or "restricted hazardous waste" under Section 25115, 25117 or 25122.7, or listed pursuant to Section
25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law),
(ii) defined as "hazardous substance" under Section 25316 of the California Health and Safety Code, Division
20, Chapter 6.8 (Carpenter - Presley- Tanner Hazardous Substance Account Act), (iii) defined as a "hazardous
material ", "hazardous substance ", or "hazardous waste" under Section 25501 of the California Health and
Safety Code, Division 20, Chapter 6.95 (Hazardous Materials Release Response Plans and Inventory), (iv)
defined as a "hazardous substance" under Section 25281 of the California Health and Safety Code, Division
20, Chapter 6.7 (Underground Storage of Hazardous Substances), (v) petroleum, (vi) asbestos, (vii)
polychlorinated biphenyls, (viii) listed under Article 9 or defined as "hazardous" or "extremely hazardous"
pursuant to Article 11 of Title 22 of the California Administrative Code, Division 4, Chapter 20, (ix) designated
as a "hazardous substances" pursuant to Section 311 of the Clean Water Act, (33 U.S.C. S1317), (x) defined
as a "hazardous waste" pursuant to Section 1004 of the Resource Conservation and Recovery Act, 42
U.S.C. S6901 et sec. (42 U.S.C. S6903) or (xi) defined as a "hazardous substances" pursuant to Section
101 of the Comprehensive Environmental Response, Compensation, as amended by Liability Act, 42. U.S.C.
S9601 et se g. (42 U.S.C. S9601).
17. Compliance With Environmental Laws. To the best of Seller's knowledge the Property complies
with all applicable laws and governmental regulations including, without limitation, all applicable federal,
state, and local laws pertaining to air and water quality, hazardous waste, waste disposal, and other
environmental matters, including, but not limited to, the Clean Water, Clean Air, Federal Water Pollution
Control, Solid Waste Disposal, Resource Conservation Recovery and Comprehensive Environmental
Response Compensation and Liability Acts, and the California Environment Quality Act, and the rules,
regulations, and ordinances of the city within which the subject property is located, the California Department
of Health Services, the Regional Water Quality Control Board, the State Water Resources Control Board, the
Environmental Protection Agency, and all applicable federal, state, and local agencies and bureaus.
18. Indemnity. Seller agrees to indemnify, defend and hold the City harmless from and against any
claim, action, suit, proceeding, loss, cost, damage, liability, deficiency, fine, penalty, punitive damage, or
expense (including, without limitation, attorneys' fees), resulting from, arising out of, or based upon (i) the
presence, release, use, generation, discharge, storage, or disposal of any Hazardous Material on, under, in or
about, or the transportation of any such materials to or from, the Property, or (ii) the violation, or alleged
violation, of any statute, ordinance, order, rule, regulation, permit, judgment, or license relating to the use,
generation, release, discharge, storage, disposal, or transportation of Hazardous Materials on, under, in, or
about, to or from, the Property. This indemnity shall include, without limitation, any damage, liability, fine,
penalty, punitive damage, cost, or expense arising from or out of any claim, action, suit or proceeding for
personal injury (including sickness, disease, or death, tangible or intangible property damage,
compensation for lost wages, business income, profits or other economic loss, damage to the natural
resource or the environment, nuisance, pollution, contamination, leak, spill, release, or other adverse
effect on the environment). This indemnity extends only to liability created prior to or up to the date this
escrow shall close. Seller shall not be responsible for acts or omissions to act post close of this escrow.
19. Contingency. It is understood and agreed between the parties hereto that the completion of this
transaction, and the escrow created hereby, is contingent upon the specific acceptance and approval of the
City herein. The execution of these documents and the delivery of same to Escrow Agent constitute said
acceptance and approval.
20. Modification and Amendment. This PSA may not be modified or amended except in writing signed
by the Seller and City.
21. Partial Invalidity. Any provision of this PSA that is unenforceable or invalid or the conclusion of
which would adversely affect the validity, legality, or enforcement of this PSA shall have no effect, but all the
remaining provisions of this PSA shall remain in full force.
22. Captions. Captions and headings in this PSA, including the title of this PSA, are for convenience
only and are not to be considered in construing this PSA.
23. Governing Law. This PSA shall be governed by and construed in accordance with the laws of the
State of California.
24. No Reliance By One Party On The Other. Each party has received independent legal advice from its
attorneys with respect to the advisability of executing this PSA and the meaning of the provisions hereof. The
provisions of this PSA shall be construed as to their fair meaning, and not for or against any party based upon
any attribution to such party as the source of the language in question.
25. No Third Party Beneficiary, This PSA is intended to benefit only the Parties hereto and no other
person or entity has or shall acquire any rights hereunder.
26. Duty To Cooperate Further. Each party hereby agrees that it shall, upon request of the other, execute
and deliver such further documents (in form and substance reasonably acceptable to the party to be charged)
and do such other acts and things as are reasonably necessary and appropriate to effectuate the terms and
conditions of this PSA, without cost.
27. Applicability of Agreement To Assignees. This PSA shall be binding upon and shall inure to the
benefit of the successors and assigns of the Parties to this PSA.
28. Authority to Execute Agreement. Each undersigned represents and warrants that its signature
hereinbelow has the power, authority and right to bind their respective parties to each of the terms of this PSA,
and shall indemnify City fully, including reasonable costs and attorney's fees, for any injuries or damages to City
in the event that such authority or power is not, in fact, held by the signatory or is withdrawn.
29. Incorporation of Exhibits. All Exhibits referenced herein and attached hereto shall be incorporated as
if fully set forth in the body of this PSA.
IN WITNESS WHEREOF, the Parties hereto have executed this PSA on the date and year first written
above.
SELLER:
Vincent R. P me Land Jeanette Parnell, Husband and Wife as Community Property
�Z Date: cr 2014
Vincent R. Parnell /jam �J ��9np �ll�hX� Date: - 2014
17hette Parnell
City /Buyer
City Santa
David Cavazos
City Manager
Attest:
� l
Maria D. Huizar
City Clerk
Approved as to Form:
Assistant City Attorney
Date: "I ® , 2014
Date: g1 2014
Date: O — -7 2014
EXHIBIT "A"
LEGAL DESRIPTION
Real property in the City of Santa Ana, County of Orange, State of California, described as
follows:
LOT 14, OF TRACT NO, 863, NOBLE PARK NO. 2, IN THE CITY OF SANTA ANA, COUNTY OF
ORANGE, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 26 PAGE(S) 30 OF
MISCELLANEOUS MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY.
EXCEPTING THEREFROM THE WESTERLY 10 FEET.
APN: 405 - 272 -16
EXHIBIT "B"
GENERAL ESCROW PROVISIONS
All disbursements shall be made by Escrow's check. All funds received in this escrow shall be deposited in
one or more of your general escrow accounts with any bank doing business in the State of California and
may be transferred to any other general escrow account or accounts. The expression "close of escrow"
means the date on which instruments referred to herein are filed for record. All adjustments are to be made
on the basis of a 30 -day month. Recordation of any instruments delivered through this escrow, if necessary
or proper in the issuance of a policy of title insurance called for, is hereby authorized.
There shall be no proration of any existing insurance policies in this escrow.
You are to furnish a copy of these instructions, amendments thereto, closing statements and /or any other
documents deposited in this escrow to the lender or lenders, the real estate broker or brokers and/or the
attorney or attorneys involved in this transaction upon request of such lenders, brokers or attorneys.
Should you before or after close of escrow receive or become aware of any conflicting demands or claims
with respect to this escrow or the rights of any of the parties hereto, or any money or property deposited
herein affected hereby, you shall have the right to discontinue any or all further acts on your part until such
conflict is resolved to your satisfaction, and you shall have the further right to commence or defend any
action or proceedings for the determination of such conflict. The parties hereto jointly and severally agree to
pay all costs, damages, judgments and expenses, including reasonable attorney's fees, suffered or incurred
by you in connection with, or arising out of this escrow, including, but without limiting the generality of the
foregoing, a suit in interpleader brought by you. In the event you file a suit in interpleader, you shall ipso
facto be fully released and discharged from all obligations imposed upon you in this escrow.
If for any reason funds are retained or remain in escrow, you are to deduct therefrom a reasonable monthly
charge as custodian thereof of not less than $10.00 per month.
Time is declared to be the essence of these instructions. If you are unable to comply within the time
specified herein and such additional time as is required to make an examination of the official records, you
will return all documents, money or property to the party entitled thereto upon satisfactory written demand
and authorization. Any amendment of and /or supplement to any instructions must be in writing. The seller
agrees to sell and the buyer agrees to buy the property herein described upon the terms hereof.
These escrow instructions, and amendments hereto, may be executed in one or more counterparts, each of
which independently shall have the same effect as if it were the original, and all of which taken together shall
constitute one and the same instruction.
When recorded, please mail this
instrument and tax statements to:
Clerk of the Council
City of Santa Ana
20 Civic Center Plaza, M -30
Santa Ana, California 92701
Free recording requested by
THE CITY OF SANTA ANA PER
GOVERNMENT CODE SECTION 6103.
SPACE ABOVE THIS LINE FOR RECORDER'S USE
CANCEL
APPROVED AS TO
APPROVED BY
DESCRIPTION
DESCRIPTION
A. P.
RJW MAP
PROJECT
TAXES
FORM BY ATTY.
D=CTOR
WRITTEN BY
CRECKED -O,K.
NUMBER 405- 272.15
NUMBER
NUMBER
X
y9BE,
1401 N. Bristol Street, Santa Me, CA
DEED NUMBER
GRANTDEED
FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
Vincent R. Parnell and Jeanette Parnell, Husband and Wife as Community Property
Do Hereby Grant to THE CITY OF SANTA ANA, a charter city and municipal corporation duly organized under the
Constitution and laws of the State of California, for public roadway purposes, all that real property in the City of Santa
Ana, County of Orange, State of California, located at 1401 N. Bristol Street, described as follows:
SEE EXHIBITS "A" ATTACHED HERETO AND BY THIS REFERENCE MADE A PART HEREOF;
j/
Dated [)
Dated 2 , � -
By: Vi cent R. Parne
qw'rffj� Li�
By: r anette Parnell
CERTIFICATE OF ACCEPTANCE
This is to certify that the interest in the real property conveyed by the Grant Deed
dated August 1, 2014, from Vincent R. Parnell and Jeanette Parnell, Husband and
Wife as Community Property, to the City of Santa Ana, a charter city and municipal
corporation organized and existing under the Constitution and laws of the State of
California, is hereby accepted by the undersigned officer or agent on behalf of the
City Council pursuant to authority conferred by Ordinance No. NS -2352 and
Section No. 33 -55 of the Santa Ana Municipal Code adopted by the City Council on
June 1, 1998, in compliance with California Government Code Section 27281 and
the grantee consents to recordation thereof by its duly authorized officer.
=-1
Dated
For the City of Santa Ana:
City Manager
CALIFORNIA ALL - PURPOSE ACKNOWLEDGEMENT
State of California
County of Orange SS
City of Santa Ana
On this Bch day of September, 2014, before me, Maria D. Huizar , Notary Public,
personally appeared David Cavazos, City Manager who proved to me on the basis of
satisfactory evidence to be the &s /per -sons whose n /namesa' - re-subscribed to
the within instrument and acknowledged to me that 7rosheA -hey executed the same in
is'he6tlieir authorized rap> ii Fc- apacities and that by llherathe r s' a /signatures
on the instrument the ers6d /p€xsens, or the entity upon behalf of which the
ers6"Zp.ersans acted, exe u ed the instrument. I certify under PENALTY OF PERJURY
u er the laws of the State of California that the foregoing is true and correct. Witness
my hand and official seal.
NOTARY SEAL Witness my hand and official seal.
g
rA MARIA D. HUIZAR Signature of Notary
Commission M 197420
y4 Notary Public • California s
QM'��rn.
Orange County
Expires.-Apr 5, 2016
w
CAPACITY CLAIMED BY SIGNER: SIGNER IS REPRESENTING:
❑ Individual(s) _
❑ Corporate _
❑ Officers
Title(s)
❑ Partner(s)
❑ General Partner of a Limited
❑ Partnership
❑ Attorney -in -Fact
❑ Trustee (s)
❑ Subscribing Witness
❑ Guardian /Conservator
❑ Other:
THIS CERTIFICATE MUST BE ATTACHED TO THE DOCUMENT DESCRIBED TO THE BELOW:
RE: 1401 N. BRISTOL STREET, SANTA ANA (APN 405 - 272 -16)
TITLE OR TYPE OF DOCUMENT: PURCHASE AND SALE AGREEMENT FOR ACQUISITION OF
REAL PROPERTY AND BILATERAL ESCROW INSTRUCTIONS
NUMBER OF PAGES: DATE OF DOCUMENT:
SIGNER (S) OTHER THAN NAMED ABOVE:
BOE- 502 -AH (P1) REV. 15 (05 -13)
CLAUDE PARRISH ORANGE COUNTY ASSESSOR
P.O. BOX 1948, SANTA ANA, CA 92702 -1948
PHONE: (714) 834 -5031
CHANGE IN OWNERSHIP STATEMENT
yxxroa�
This statement represents a written request from the Assessor.
Failure to file will result in the assessment of a penalty.
FILE THIS STATEMENT BY: 03/15/15
NAME AND MAILING ADDRESS OF BUYERITRANSFEREE
(Matra necessary ccrrections to the printed name and mailing address)
CITY OF SANTA ANA
20 CIVIC CENTER, UNIT M -30
SANTA ANA, CA 92701
STREET ADDRESS OR PHYSICAL LOCATION OF REAL PROPERTY
1401 N BRISTOL ST, SANTA ANA
RECORDING DATA
Transfer Date 10/08/14
Document Number 140408959
Date of Notice 02/13/15
GRANT DEED
ASSESSOR'S PARCEL NUMBER
405 - 272 -16
SELLERITRANSrEROR
PARNELL, JEANETTE
BUYER'S DAYTIME TELEPHONE NUMBER
BUYER'S EMAIL ADDRESS
ADDRESS
CITY
STATE
ZIP CODE
[-]YES
❑ NO
This property is intended as my principal residence. If YES, please indicate the date of occupancy
MO
DAY
YEAR
or intended occupancy.
PART 1. TRANSFER INFORMATION Please complete all statements.
This section contains possible exclusions from reassessment for certain types of transfers.
YES
NO
❑
❑ A.
This transfer is solely between spouses (addition or removal of a spouse, death of a spouse, divorce settlement, etc.).
❑
❑ B.
This transfer is solely between domestic partners currently registered with the California Secretary of State (addition or removal of
a partner, death of a partner, termination settlement, etc.).
❑[]*C.
This is a transfer: ❑ between parent(s) and child(ren) ❑ from grandparent(s) to grandchild(ren).
❑E]'
D.
This transfer is the result of a cotenant's death. Date of death
❑
❑' E.
This transaction is to replace a principal residence by a person 55 years of age or older.
Within the same county? ❑ YES ❑ NO
❑
❑ * F.
This transaction is to replace a principal residence by a person who is severely disabled as defined by Revenue and Taxation Code
section 69.5. Within the same county? ❑ YES ❑ NO
❑
❑ G.
This transaction is only a correction of the name(s) of the person(s) holding title to the property (e.g., a name change upon marriage).
If YES, please explain:
❑
❑ H.
The recorded document creates, terminates, or reconveys a lender's interest in the property.
❑
❑ I.
This transaction is recorded only as a requirement for financing purposes or to create, terminate, or reconvey a security interest
(e.g., cosigner). If YES, please explain:
❑
❑ J.
The recorded document substitutes a trustee of a trust, mortgage, or other similar document.
K.
This is a transfer of property:
❑
❑
1. to /from a revocable trust that may be revoked by the transferor and is for the benefit of
❑ the transferor, and /or ❑ the transferor's spouse ❑ registered domestic partner.
❑
❑
2. to /from a trust that may be revoked by the creator /grantor /trustor who is also a joint tenant, and which
names the other joint tenant(s) as beneficiaries when the creator /grantor /trustor dies.
❑
❑
3. to /from an irrevocable trust for the benefit of the
❑ creator /grantor /trustor and /or ❑ grantor's /trustor's spouse ❑ grantor's /trustor's registered domestic partner.
❑
❑ L.
This property is subject to a lease with a remaining lease term of 35 years or more including written options.
❑
❑ M.
This is a transfer between parties in which proportional interests of the transferor(s) and transferee(s) in each and every parcel
being transferred remain exactly the same after the transfer.
❑
❑ N.
This is a transfer subject to subsidized low- income housing requirements with governmentally imposed restrictions.
❑
❑ * O.
This transfer is to the first purchaser of a new building containing an active solar energy system.
Please
refer to the instructions for Part 1.
Please provide any other information that will help the Assessor understand the nature of the transfer.
THIS DOCUMENT IS NOT SUBJECT TO PUBLIC INSPECTION
A002 -254 (P7) (R 12/14) 000064-3
BOE- 502 -AH (P2) REV. 15 (05 -13)
PART 2. OTHER TRANSFER INFORMATION
A. Date of transfer, if other than recording date:
Check and complete as applicable.
B. Type of transfer.
❑ -] Purchase E] Foreclosure F] Gift Trade or exchange E] merger, stock, or partnership acquisition (Form BOE- 100 -13)
❑ Contract of sale. Date of contract: ❑ Inheritance.. Date of death:
❑ Sale /leaseback ❑ Creation of a lease ❑ Assignment of a lease ❑ Termination of a lease. Date lease began:
Original term in years (including written options): Remaining term in years (including written options):
F-1 flfhcr Plaasa axnlain ___
C. Only a partial interest in the property was transferred. [-]YES ❑ NO If YES, indicate the percentage transferred:
PART 3. PURCHASE PRICE AND TERMS OF SALE Check and complete as applicable.
A. Total purchase price
B. Cash down payment or value of trade or exchange excluding closing costs Amount $
C. First deed of trust @ % interest for years. Monthly payment $ Amount $
❑ FHA (_Discount Points) ❑ Cal -Vet ❑ VA (_Discount Points) ❑ Fixed rate ❑ Variable rate
❑ Bank /Savings & Loan /Credit Union ❑ Loan carried by seller
❑ Balloon payment $ Due date:
D. Second deed of trust @ % interest for years. Monthly payment $ Amount $
❑ Fixed rate ❑ Variable rate ❑ Bank /Savings & Loan /Credit Union ❑ Loan carried by seller
❑ Balloon payment $ Due date:
E. Was an Improvement Bond or other public financing assumed by the buyer? ❑ YES ❑ NO Outstanding balance $
F. Amount, if any, of real estate commission fees paid by the buyer which are not included in the purchase price $
G. The property was purchased: ❑Through real estate broker. Broker name: Phone number:
❑ Direct from seller ❑ From a family member - Relationship
❑ Other. Please explain:
H. Please explain any special terms, seller concessions, broker /agent fees waived, financing, and any other information (e.g., buyer assumed the
existing loan balance) that would assist the Assessor in the valuation of your property.
PART 4. PROPERTY INFORMATION Check and complete as applicable.
A. Type of property transferred
❑ Single - family residence ❑ Co -op /Own - your -own ❑ Manufactured home
❑ Multiple - family residence. Number of units:_ ❑ Condominium ❑ Unimproved lot
❑ Other. Description: (i.e., timber, mineral, water rights, etc.) ❑ Timeshare ❑ Commercial /Industrial
B. [-]YES ❑ NO Personal /business property, or incentives, provided by seller to buyer are included in the purchase price. Examples of personal
property are furniture, farm equipment, machinery, etc. Examples of incentives are club memberships, etc. Attach list if available.
If YES, enter the value of the personal /business property: $ Incentives $
C. [-]YES []NO A manufactured home is included in the purchase price.
If YES, enter the value attributed to the manufactured home: $
[]YES ❑ NO The manufactured home is subject to local property tax. If NO, enter decal number:
D. ❑YES ❑ NO The property produces rental or other income.
If YES, the income is from: ❑ Lease /rent ❑ Contract ❑ Mineral rights ❑ Other:
E. The condition of the property at the time of sale was: F] Good
Please describe:
[-]Average Fair []Poor
CERTIFICATION
I certify (or declare) under penalty of perjury under the laws of the State of California that the foregoing and all information hereon, including any
accompanying statements or documents, is true and correct to the best of my knowledge and belief. This declaration is binding on each and
every buyer /transferee.
SIGNATURE OF BUYER /TRANSFEREE OR CORPORATE OFFICER DATE TELEPHONE
J
OF BUYER /TRANSFEREE /LEGAL REPRESENTATIVEICORPORATE OFFICER (PLEASE PRINT) ITITLE
The Assessor's office may contact you for additional information regarding this transaction.
A002 -254 (P2) (R 12/14) 000064.4
BOE- 502 -AH (P3) REV. 15 (05 -13)
IMPORTANT NOTICE
The law requires any transferee acquiring an interest in real property or manufactured home subject to local property taxation, and that is assessed by
the county assessor, to file a change in ownership statement with the county recorder or assessor. The change in ownership statement must be filed at
the time of recording or, if the transfer is not recorded, within 90 days of the date of the change in ownership, except that where the change in ownership
has occurred by reason of death the statement shall be filed within 150 days after the date of death or, if the estate is probated, shall be filed at the time
the inventory and appraisal is filed. The failure to file a change in ownership statement within 90 days from the date a written request is mailed by the
assessor results in a penalty of either: (1) one hundred dollars ($100), or (2) 10 percent of the taxes applicable to the new base year value reflecting the
change in ownership of the real property or manufactured home, whichever is greater, but not to exceed five thousand dollars ($5,000) if the property is
eligible for the homeowners' exemption or twenty thousand dollars ($20,000) if the property is not eligible for the homeowners' exemption if that failure
to file was not willful. The assessor is required to mail the request to file a change in ownership statement to the transferee at the address specified for
mailing tax information on either the recorded instrument, the document evidencing a transfer of an interest in real property or manufactured home, or
on the filed preliminary change in ownership report, or, if an address is not specified for mailing tax information, to any address reasonably known to the
assessor. This penalty will be added to the assessment roll and shall be collected like any other delinquent property taxes, and be subject to the same
penalties for nonpayment.
ADDITIONAL INFORMATION
NAME AND MAILING ADDRESS OF BUYER: Please make necessary corrections to the printed name and mailing address. Enter
Assessor's Parcel Number, name of seller, buyer's daytime telephone number, buyer's email address, and street address or physical
location of the real property.
NOTE: Your telephone number and/or email address is very important. If there is a question or a problem, the Assessor needs
to be able to contact you.
MAIL PROPERTY TAX INFORMATION TO: Enter the name, address, city, state, and zip code where property tax information should be
mailed. This must be a valid mailing address.
PRINCIPAL RESIDENCE: To help you determine your principal residence, consider (1) where you are registered to vote, (2) the home
address on your automobile registration, and (3) where you normally return after work. If after considering these criteria you are still
uncertain, choose the place at which you have spent the major portion of your time this year. Check YES if the property is intended as
your principal residence, and indicate the date of occupancy or intended occupancy.
PART 1: TRANSFER INFORMATION
If you check YES to any of these statements, the Assessor may ask for supporting documentation
C,D,E, F: If you checked YES to any of these statements, you may qualify for a property tax reassessment exclusion, which may allow you
to maintain your property's previous tax base. A claim form must be filed and all requirements met in order to obtain any of these
exclusions. Contact the Assessor for claim forms. NOTE: If you give someone money or property during your life, you may be subject to
federal gift tax. You make a gift if you give property (including money), the use of property, or the right to receive income from property,
without expecting to receive something of at least equal value in return. The transferor (donor) may be required to file Form 709, Federal
Gift Tax Return, with the Internal Revenue Service if they make gifts in excess of the annual exclusion amount.
G: Check YES if the reason for recording is to correct a name already on title [e.g., Mary Jones, who acquired title as Mary J. Smith, is
granting to Mary Jones]. This is not for use when a name is being removed from title.
H: Check YES if the change involves a lender, who holds title for security purposes on a loan, and who has no other beneficial interest
in the property.
"Beneficial interest" is the right to enjoy all the benefits of property ownership. Those benefits include the right to use, sell,
mortgage, or lease the property to another. A beneficial interest can be held by the beneficiary of a trust, while legal control of the
trust is held by the trustee.
I: A "cosigner" is a third party to a mortgage /loan who provides a guarantee that a loan will be repaid. The cosigner signs an agreement
with the lender stating that if the borrower fails to repay the loan, the cosigner will assume legal liability for it.
M: This is primarily for use when the transfer is into, out of, or between legal entities such as partnerships, corporations, or limited liability
companies. Check YES only if the interest held in each and every parcel being transferred remains exactly the same.
N: Check YES only if property is subject to subsidized low- income housing requirements with governmentally imposed restrictions.
property may qualify for a restricted valuation method (i.e., may result in lower taxes).
O: If you checked YES, you may qualify for a new construction property tax exclusion. A claim form must be filed and all requirements
met in order to obtain the exclusion. Contact the Assessor for a claim form.
PART 2: OTHER TRANSFER INFORMATION
A: The date of recording is rebuttably presumed to be the date of transfer. If you believe the date of transfer was a different date (e.g., the
transfer was by an unrecorded contract, or a lease identifies a specific start date), put the date you believe is the correct transfer date. If
it is not the date of recording, the Assessor may ask you for supporting documentation.
B: Check the box that corresponds to the type of transfer. If OTHER is checked, please provide a detailed description. Attach a separate
sheet if necessary.
Ann? ocn tom in 10i1 AN nnnnaa
BOE- 502 -AH (P4) REV. 15 (05 -13)
PART 3: PURCHASE PRICE AND TERMS OF SALE
It is important to complete this section completely and accurately. The reported purchase price and terms of sale are important factors in
determining the assessed value of the property, which is used to calculate your property tax bill. Your failure to provide any required or
requested information may result in an inaccurate assessment of the property and in an overpayment or underpayment of taxes.
A. Enter the total purchase price, not including closing costs or mortgage insurance.
"Mortgage insurance" is insurance protecting a lender against loss from a mortgagor's default, issued by the FHA or a private
mortgage insurer.
B. Enter the amount of the down payment, whether paid in cash or by an exchange. If through an exchange, exclude the closing costs.
"Closing costs" are fees and expenses, over and above the price of the property, incurred by the buyer and /or seller, which
include title searches, lawyer's fees, survey charges, and document recording fees.
C. Enter the amount of the First Deed of Trust, if any. Check all the applicable boxes, and complete the information requested.
A "balloon payment" is the final installment of a loan to be paid in an amount that is disproportionately larger than the regular
installment.
D. Enter the amount of the Second Deed of Trust, if any. Check all the applicable boxes, and complete the information requested.
E. If there was an assumption of an improvement bond or other public financing with a remaining balance, enter the outstanding balance,
and mark the applicable box.
An "improvement bond or other public financing" is a lien against real property due to property- specific improvement
financing, such as green or solar construction financing, assessment district bonds, Mello -Roos (a form of financing that can be
used by cities, counties and special districts to finance major improvements and services within the particular district) or general
improvement bonds, etc. Amounts for repayment of contractual assessments are included with the annual property tax bill.
F. Enter the amount of any real estate commission fees paid by the buyer which are not included in the purchase price.
G. If the property was purchased through a real estate broker, check that box and enter the broker's name and phone number. If the
property was purchased directly from the seller (who is not a family member of one of the parties purchasing the property), check the
"Direct from seller" box. If the property was purchased directly from a member of your family, or a family member of one of the parties who
is purchasing the property, check the "From a family member" box and indicate the relationship of the family member (e.g., father, aunt,
cousin, etc.). If the property was purchased by some other means (e.g., over the Internet, at auction, etc.), check the "OTHER" box and
provide a detailed description (attach a separate sheet if necessary).
H. Describe any special terms (e.g., seller retains an unrecorded life estate in a portion of the property, etc.), seller concessions (e.g.,
seller agrees to replace roof, seller agrees to certain interior finish work, etc.), broker /agent fees waived (e.g., fees waived by the
broker /agent for either the buyer or seller), financing, buyer paid commissions, and any other information that will assist the Assessor in
determining the value of the property.
PART 4: PROPERTY INFORMATION
A. Indicate the property type or property right transferred. Property rights may include water, timber, mineral rights, etc.
B. Check YES if personal, business property or incentives are included in the purchase price in Part 3. Examples of personal or business
property are furniture, farm equipment, machinery, etc. Examples of incentives are club memberships (golf, health, etc.), ski lift tickets,
homeowners' dues, etc. Attach a list of items and their purchase price allocation. An adjustment will not be made if a detailed list is not
provided.
C. Check YES if a manufactured home or homes are included in the purchase price. Indicate the purchase price directly attributable
to each of the manufactured homes. If the manufactured home is registered through the Department of Motor Vehicles in lieu of being
subject to property taxes, check NO and enter the decal number.
D. Check YES if the property was purchased or acquired with the intent to rent or lease it out to generate income, and indicate the source
of that anticipated income. Check NO if the property will not generate income, or was purchased with the intent of being owner - occupied.
E. Provide your opinion of the condition of the property at the time of purchase. If the property is in "fair" or "poor" condition, include a
brief description of repair needed.
A002 -254 (P4) (R 12/14) 000064-6