HomeMy WebLinkAboutUnrestricted Sale CertificationP ROYO:GRAN F.
3 1 7f•�
. N
Y
CITY •
CALIFORNIA
Via US Mail
October 22, 2012
Jackie Solis
FIDELITY NATIONAL TITLE
140 W. Branch Street
Arroyo Grande, Ca 93420
RE: 1327 Glenbrook, Arroyo Grande, California ( "Property')
Dear Ms. Solis,
Enclosed please find an Unrestricted Sale Certification ( "Certification ") and a Full
Reconveyance deed ( "Reconveyance ") regarding the above referenced matter. The
Certification will need to be executed by Kevin Ross, Heather D. Ross ( "Owners ") and
Laure James ( "Market Purchaser "). Fidelity National Title ( "Fidelity ") is hereby
authorized to record the Recoveyance upon the following:
✓�Fidelity has provided City with a true and correct copy of the final fully executed
purchase and sale agreement regarding the Property between Owner and
/ Market Purchaser showing a purchase price of $326,000;
✓ 2) Fidelity has provided City with a true and correct copy of the Final Settlement
Report regarding the purchase and sale of the Property between Owner and
Market Purchaser showing a purchase price of $326,000;
✓3) Fidelity has provided City with a true and correct copy of a fully executed
Certification.
Please let us know if you have any questions or comments.
Sincerely,
Steven Adams,
City Manager
CITY MANAGER'S OFFICE • 300 East Branch Street • Arroyo Grande, California 93420
Phone: (805) 473 -5400 • Fax: (805) 473 -0386 • E -mail: agcity @arroyogrande.org • Website: www.arroyogrande.org
UNRESTRICTED SALE' CERTIFICATION
This Unrestricted Sale Certification ( "Certification ") is made and delivered by Kevin
Ross and Heather D. Ross (collectively referred to herein as "Owner') and Laurc James
( "Market Purchaser ") in favor of the City of Arroyo Grande ( "City ") on this V_ day of
J r,gC,,W1 2012.
A. WHE'121sAS, on or about April I, 2008. City and Owner entered into a Buyer's
Occupancy and Resale Agreement with Option to Purchase recorded in the official records of the
County of San Luis Obispo on April 4, 2008 as Document No. 2008017347 ( "Agreement "); and
B. WIIE1REAS, City required owner to execute the Agreement as a condition on
Owner's purchase of the affordable housing unit commonly known as 1327 Glenbrook, Arroyo
Grande and located within the Parksidc Development ( "Property "), which Property is more
particularly described in Exhibit "A" attached hereto and incorporated herein by this reference;
and
C. WHE'RE'AS, the Agreement contains various provisions relating to Owners
occupancy and resale of the Property in accordance with the City's Affordable Housing
Ordinance and prohibits Owner from selling the property to an individual who is a Market
Purchaser at an Unrestricted Price ( "Unrestricted Sale "). as those terms are defined in the
Agreement, except under certain limited circumstances; and
D. WHEREAS, Section 13 of the Agreement requires Owner to provide City with
certain documents prior to completing an Unrestricted Sale, including, without limitation, a
written certification from Owner and Market Purchaser in a form acceptable to City that, among
other things, certifies that the sale shall be closed in accordance with the terms of the Agreement
and the sales contract submitted to the City; and
L WHEREAS, Owner and Market Purchaser have submitted with the City: (1) an
appraisal of the Property dated October 8. 2012 which states, as of October 1, 2012, the fair
market value of the Property is $326.000; and (2) a final sales contract and other related
documents which state that the sales price of the Property is $326.000; and
I.. WHE'RE'AS, this Certification is intended to satisfv the written certification
requirement set forth in Subsection 13(3) of the Agreement.
I-or good and valuable consideration. the sufficiency of which is hereby acknowledged,
Owner and Market Purchaser hereby certify and promise as follows:
I. Sale Closed in Accordance with Documents Submitted to City. The Unrestricted
Sale will be closed in accordance with the terms and conditions of all of the documents
1
submitted to and approved by City, including, without limitation, the final sales contract and all
other related documents which set forth the terms of the sale of the Property.
2. No Additional Consideration. Neither the Market Purchaser nor any other party
has paid or will pay Owner and Owner has not and will not receive from Market Purchaser or
any other party, money or other consideration, including personal property, for the Property over
and above the $326,000 sales price as set forth in the final sales contract and other related
documents submitted to the City.
3. Unauthorized Transfer. In the event that the Property is transferred in violation of
the terms of the Agreement or false or misleading statements are made in any document
submitted to the City by Owner or Market Purchaser in violation of the terms of this
Certification, City has the right to refuse to reconvey the liens of' tile Agreement and Deed of
Trust, foreclose on the Property or file an action at law or in equity as it deems appropriate.
Owner and Market Purchaser shall indcmnifv, defend and hold the City and its officials,
employees, and agents ( "City Parties ") harmless and reimburse City Parties' for any and all
expenses, legal fees and costs for any action City Parties reasonably take in good faith in
enforcing the terms of the Agreement or this Certification. Any costs, liabilities, or obligations
incurred by Owner or ivlarket Purchaser associated with the return of any moneys paid or
received in violation of the Agreement shall be home exclusively by the Owner and /or Market
Purchaser.
d. Limitation. Acceptance of' this Certification by City shall in no way operate to
prohibit City from taking the position that the requirements for an Unrestricted Sale under the
terns of the Agreement have not been satisfied or to reject any documentation provided in
accordance with Section 13 of the Agreement as unsatisfactory.
5. Construction. This Certification shall be governed by and construed in
accordance with the laws of the State of California. This Certification has been reviewed and
negotiated by City, Owner and Market Purchaser at arms' length with the benefit of or
opportunity to seek the assistance of legal counsel and shall not be construed against either party.
The titles and captions of this Certification are inserted for convenience only and in no way
define, limit, extend or modify the scope of intent of this Certification.
6. Scverability. If any section or provision of this Certification is declared invalid or
unenforceable by any court of competent jurisdiction, said determination shall not al'I'ect the
validity or enforceability of the remaining terms hereof No such determination in one
jurisdiction shall affect any provision of this Certification to the extent it is otherwise enforceable
under the laws of any other applicable jurisdiction.
SIGNATURLES TO FOLLOW ON NI: \T PAGE
2
IN WITNLSS WHEREOF, Owner and Market Purchaser have executed this
Certification as or the day and year first written above.
MARKL "T PURCHASER:
G&U ��kmy
Laure James
OWNER:
Kevin Ross
Heather I). Ross
IN WITNESS WHEREOF, Owner and Market Purchaser have executed this
Certification as of the day and year first written above.
MARKET PURCHASER:
Laure James
Kevin Ross
1
Exhibit "A"
The land referred to herein below is situated in the City of Arroyo Grande. County of San Luis
Obispo. State of California. and is described as follows:
Lot 45 of "Tract No. 2310 -2, in the City of Arroyo Grande, County of San Luis Obispo. State of
California, according to the map recorded May 23, 2006 in Book 28. Page 45 of Nlaps, in the
office of the County Recorder of said County.
Amended by Certificate of Correction recorded January 4. 2008 as document number
2008000505 of Official Records.
APN: 077 -255 -046
4
0Fidelity National Title Company
140 W. Branch Street, Arroyo Grande, CA 93420
805 474 -1800 • FAX 805 474.0309
ATTN: Steven Adams
City of Arroyo Grande
300 East Branch Street
Arroyo Grande, CA 93420
Mr. Adams
Closing documents are enclosed.
Sincerely,
I Stephanie Schaefer / Kim MacDonald
Branch Manager
805 474 -1800
M-
enclosures)
Blank Letter (letter)(06 -06)
DATE: November 9, 2012
ESCROW NO.: 12- 400206935 -SS
LOCATE NO.: CAFNT0940- 0940- 0002 - 0400206935
TITLE NO.: 12- 400206935 -RB
PROPERTY ADDRESS:
_87.1 Tempus- Circle, Arroyo Grande, CA 93420
/3z-7 (S le�u-)o AQ-,
03/24/2012 15:07 FAX
CALI POR.NfA
ASSOCIATION
OF REA LTUfi S'e
tNia aartifies that this is a true and
Exact copy of original document
FIDELITY NATIONALTITLE 002/002
COUNTER OFFER No. e
For use by Seller or Buyer. Maybe used for Mu p • Covnte r Offer.
(C.A.R. Form CO, Revised 11110) ,
Thiele a counts, one ap am: (j3 C.NOrnlo RenmW W Pun21a" Agmamwd, ❑ Counter
dated a'ePaeepbes 27, 2012 , On OMP" known ea
Dawson _ ra. n _T.....
A. Pragn
Unto"
B. UnleU
Offer.
C.
m
d for lnakielon
W01119, down
not
Of
Odle
W ❑ Other
to the haowlng:
V dl Pa RI". ere eaclUded hole the (I aVm, menu
iUnto, Offer.
ed)uamd In the "Me proportion as In Inn origami
0. TM following attached addends are Incorporated Into this Cnantar OMr: ❑ Addendum No.
❑ 2. RIONTTO ACCEPT OTHER OFFCRS: It We M o Slav Counter Offer, 0) Salo, has On right t0 eodnuu m Offer No Prop" k, apl0 or nor mOMw
yenvoc art. and m auapt an OMer ORW 41 any Ume 9Nw m Accadmnco, as dsacnoaa In paragraph 3 and (a) Clllp/a aoup71=at N. 01.
prior m Buy,1 Aoki Olenta of 010 Counts, Offer, ehaa rovoM MIC COanlar Ones.
7. EXPIRATION: This CoupW Otto( than be dnnmOd ruv'ok.d and Me oepuslh. if yay, ehaa be Ioym.a unless Ws Counter Otter la elgnW by No
Buyer ar SO4w m «hem It le Vult and a COPY of Me signed Ca ntw Offr to pd"nsty received by Me pwtan ,malang Ws Counts OBer'y by
. who m authorized m reelq
IL by 8:00 PM on th0 OoY An Me later OblO apedffpd In pumpnpn B W. (II GneCYb) q (tam), al
j AMl_1PM. Ties OoMf Offer may ae esA,,Iad In oH,mwpune.
e, 11 11rf (11 Cheak d;) MULTIPLE COUNTER OFFER: Sails, Is making a Counter ONprp) m UmNw pmapeaM ligorts) on torah flat may 0, may
�Ol be Me urns as In this Caunmr ORS. AwPWACO of Nb COUntw Omr by Buyer $hall not be allotting une" and unit) It to subapv"th,
IOSlgnsd by Saner In "mgnph T DWow and 1 COPY Of Me COURmr Offer Signed In gomgmph T Is Co nslly recelvw by BuYm or by
who Is •YOan2e4 to twelve It by 8:00 pM
an M0 LI Day After the osier dam apeOOCd In paragraph 5 0, (it Necked) by _ 0 SMpo • 27, 2032 (dam). at
AM phj. Prior m Me emOlOU" of go d these ovan4. Buyer stop Soper $hat have n0 u0" w CWlgatonw (Or Ma purOte" ar
]ale
C11,00,17hastirrIONOTe TO SELLER: Sign and dam In parogroph s to make this C"nmr Offer.
s• O ROR SELLER MANES THIS COUNTER OFFER ON THE TERMS ABOVE AND ACNNOWLEDOEB RECEIPT OF ACOPY,
Date OF /2i 1202
Dote Oa /Pt /PDL)
lu 1 u
4. AC' WI NCE: I1WE Q—It Mr. abOvo Cauntar ORS III chocked ❑ SUUJBCT TO 1alE ATTACHED COUNTER OFFER) and acknew4ago
vi a o0
wpm 9��U / /.',L. Ton, �QAMXPM
lT Dow uma ❑ AM ❑pM
T, 1 ^OL V a e nlu
"OTC TO sign In this boa undl After Buydr signs In pamOroph 4.' Para oho applies only if pshg"Ph a 11 Ch.ckod.l
Dais ,g Tlm. 4:10 E@ A11 am
waDam Tine, _aj'h, ®Ala ate{
e. (_1 1(IWQUI ) Confirmation of ACCaptanCu: A Copy d Slynod ACcepD.CO woe GOIW44 mW.Ou q Ute maker of Me
C"ntw O r Mal persan', autnansad sgdnl as eped0"ln gemQlAph 3 (01. If MID la . Mutd u for Opal, Me Buyer or Buyers aulrmdted
agent as specified In Dwepmph s) kin (aela) 9 � / //y 0, V.r (Z AM Q PM, A binding AWoomenl
to yesh0 whon a Copy d SIG( Acceptanco to perefinaily r e Wall y the the mlkw o me COYm I Offer, or that person's AUlhodaeu
agent (at, II this m a Mulopf. Couner Offer, the Buyer at Buy a aulhodud as "1) whams or not confirmed In this documanb Completion
of thin confirm Won I. not legally h ch
aulred It, wd.r to ar a binding Agreement; It Is solely intended Ill evidence the dam Mal
Acceptance has Occulted.
Taw ceepegre Is,,. at IM VMe. f Wes (T(h I r U.B. Code) ramm taw wua auws m,W,11,n W We loom w YYryry pOmM Inuaa, pr Ono mayYne ar ury cUwr Msw,
MCN t„Yn4aCamP,nvnpudYOrinau, npMOnp".2pp., CwIIFOANIw A]90WTION O /NR. L'GLjOR40, WC. KI RpINCn TB Np$HRV D. H is THIS , 00 6y000 8'n18 a0AL W1 TAX PECWIC t O AS�t�OPP�L aprA PPROPgnWSSIONAINEBP"SON OWlIFICO TO ra THE ON REAL REAL ESTAre
M. earn 4 o11a0U e, m. by M. We mat 444 Inap.�wlthr. It h AI W.'p WIp kleary Me era a. 1 99WOM, RgALTOIss to • I.al4.ga m'eCb. l,wN.nwp m.rY
.clan ray "are toy W Ma.Maa a ma NATIONAL ASSOCIATION OP RewLTOR59 ate wba•0. as 14 C.tlb Of OMk..
Rpal.l.d OUYa4N q:
REaL11TatE OUp4Ct1 gAVKEA IAC. C
u dnlCnYnniAlaaisrAlaR(AImRSe R.vlw.dw_abs
s ,f7l Taa.VylAmw,w yvpr, Cye.b9api0 a"`,f'o
CO REVISeO 11110 (PACE 1 OF 11
COUNTER OFFER (CO PAGE 1 OF 1)
Num.luwn estate Phone, eOSYa•2tU0 FYa;1105•.80.470
Hom.tawn 11021W 1330 D. Omnd Avo nwmme Oland.. CA OU20
CALIFORNIA
C A L t F O li N I A RESIDENTIAL PURCHASE AGREEMENT
A A S S OC I A T I ON AND JOINT ESCROW INSTRUCTIONS
OF IL E A L T O 11 S v For Use With Single Family Residential Property — Attached or Detached
If (C.A.R. Form RPA -CA, Revised 4110)
Date Seotembor 23, 2.012
1. OFFER:
A. THIS IS AN OFFER FROM La=o A, James ("Buyer "),
B. THE REAL PROPERTY TO BE ACQUIRED Is described as 1327 Glonbrook, Arroyo Grande, CA 93420
, Aeseeaora Parcel No. 077 - 255 -046 , situated in
Arroyo Grande . County of San Lu1a Obispo . California, ('Property').
C. THE PURCHASE PRICE offered Is Phroo Nundrod rwonty -Six 37bouernd
(Bottom S 326.000. 00 ),
D. CLOSE OF ESCROW shall occur on (date) (or ® 45 Days After Acceptance).
2. AGENCY:
A. DISCLOSURE: Buyer and Seller each acknowledge prior rocolpl of a "Disclosure Regarding Real Estate Agency Re13llonshlps"
(C.A,R, Form AD),
B. POTENTIALLY COMPETING BUYERS AND SELLERS: Buyer and Seller each acknowledge receipt of a disclosure of the possibility of
multiple represen allon by the Broker representing that principal. This disclosure may be pan of o Using agreement, buyer representation
agreement or separate document (C.A.R. Form DA). Buyer understands that Broker representing Buyer may also represent other potential
buyers, who may consider, make offers on or ultimately acquire the Property. Sailor understands that Broker representing Seller may also
represent other sellers wlth competing properties of Interest to this Buyer,
C. CONFIRMATION: The following agency relationships are hereby confirmed to( this transaction:
Listing Agent (Print Firm Name) is the agent
of (check one): ® the Seller exclusively; or ❑ both the Buyer and Seller. `
Selling Agent flan Real Estate In ostnan is (Print Firm Name) (if not the soma as the
Listing Agent) Is the agent of (check one): ® the Buyer exclusively; or ❑,the Seller exclusively: or ❑ both the Buyer and Seller. Real Estate
Brokers are not parties to the Agreement between Buyer and Seller,
3, FINANCE TERMS: Buyer represents that funds will be good when deposited with Escrow Holder.
A. INITIAL DEPOSIT: Deposit shall be in the amount of ................................................... $ 9.000.00
(1) Buyer shall deliver deposit directly to Escrow Holder by personal check, ❑ electronic funds transfer, ❑ Other
within 3 business days Offer acceptance (or ❑ Other );
OR (2) (If chocked) ® Buyer has given the deposit by personal check (or ❑ )
to the agent submitting the offer (or to[:] I.
made payable to Eldntity N E' t Vit:ln The deposit shall be held
uncashed until Acceptance and then deposited with Escrow Holder (at ❑ into Brokers trust account) within 3
business days after Acceptance (or ❑ Other )
B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of ........,... S
within Days After Acceptance, or ❑
11 a liquidated damages clause is incorporated into this Agreement. Buyer and Seller shall sign a separate
liquidated damages clause (C.A.R. Form RID) for any increased deposit at the time it is deposited,
C. LOAN(S):
(1) FIRST LOAN: in the amount of .................................. ............................... S 206, 000.00
This loan will be conventional financing or, It checked, ❑ FHA, ❑ VA, ❑ Seller (C.A.R, Form SFA),
❑ assumed financing (C.A.R. Form FAA), ❑ Other . This loan shell be at o fixed
rate not to exceed %or, ❑ an adjustable rate loan with initial rate not to exceed %.
Regardless of the type of loan, Buyer shall pay points not to exceed % of the loan amount.
(2) ❑ SECOND LOAN: in the amount of ............................. ............................... $
This Loon will be conventional financing or, I( checked, ❑ Seller (C.A.R. Form SFA), ❑ assumed financing
(C.A.R. Form FAA), ❑ Other , This loan shall be at a fixed rata not to exceed
% or, ❑ an adjustable rate loan with Initial rata not to exceed %, Regardless of
the type oI loan, Buyer shall pay points not to exceed %of the loan amount,
(3) FHAIVA: For any FHA or VA ban specified above, Buyer has 17 (or ❑ ) Days Ahor Acceptance
to Deliver to Seller written notice (C.A.R. Form FVA) of any lender- requlmd repairs or costs that Buyer
requests Seller to pay for or repair, Seller has no obligation to pay for rubella or satisfy lender requirements
unless otherwise agreed in writing.
D. ADDITIONAL FINANCING TERMS: SOT rnr to credit back r -o Buyer $3,000.00 towards
E. BALANCE OF PURCHASE PRICE OR DOWN PAYMENT: in the amount of . ............................... $ 31,000.00
to be deposited with Escrow Holder within sufficient time to close escrow.
F. PURCHASE PRICE ( TOTAL) :...................................... ............................... S ' 326.000^.00
Buyers Initials Q2t-- ) ( ) Sellers Initials
lne Capyl,aN lee(d aq Uatlea Subo (tae t) U 9 Cana) Iapia aw unedlarse4 naa4udcn a mu lam, a u
oily axuea
CapYgnO 101- elbay , cAl WORnY N nlra xdSw50e Ca U%N a Onr RmAoemTO, Rn ®. Inl nxL lm RJIe O Ra S RES aRhVeE4 D ralmn M11°eC
drrevdlr
RPA -CA REVISED 4110 (PAGE 1 OF 8) Ravlowed by Dalo
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA -CA PAGE 1 OF 8)
Ago Snawn Critical Phone: 805.650.3014 Fax: 805.473.7501 Prepared using zlpForrrr® software
Brokent: r. Allan Real Estate Investments 135 North Halcyon Road, Sto A Arroyo Grande, CA 93420
1327 Glonbrook
Property Address: Arroyo Grande CA 93420 Dale: S_eptamber 23, 2012
G. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to 7H(1)) shall. within 7 (or
Q 1 Days After Acceptance, Deliver to Salter written varigestion of Buyers down payment and closing costs. (If checked, ❑
verification attached.)
H. LOAN TERMS:
(1) LOAN APPLICATIONS: Within 7 (or ❑ 1 Days After Acceptance, Buyer shall Deliver to Seller a letter from lender or loan
broker slating that, based on a review of Buyers written appllcelion and credit report. Buyer is prequalllled or preapproved for any NEW loan
specified In JC above. (If checked, ❑ letter attached.)
(2) LOAN CONTINGENCY: Buyer shall act diligently and In good fnilh to obtain the designated loea(s). Obtaining the loan(s) specified above
Is a contingency of this Agreement unless otherwise agreed In writing. Buyer's contractual obligations to obtain and provide deposit, balance
of down payment and dosing costs are not contingencies of this Agreement.
(a) LOAN CONTINGENCY REMOVAL:
(1) Within 17 for ❑ ) Days After Acceptance, Buyer shall, as Specified In paragraph 14, in writing iomovo the loan contingency
or cancel this Agreement:
OR (II) (if chocked) ❑ the loan contingency shall remain in effect until the designated loans are funded.
(4) ❑ NO LOAN CONTINGENCY (If checked): Obtaining any loan specl8od above Is NOT a contingency of this Agreement. If Buyer does not
obtain the loan and as a result Buyer does not purchase the Property, Seller may be entitled to Buyers deposit or other legal remedies.
1. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement Is (or, If checked, ❑ Is NOT) contingent upon a written appraisal of the Property
by a licensed or minified appraiser at no lees than the specified purchase price. If [hero is a loan contingency, Buyers removal of the loan
contingency shall be deemed removal of this appraisal contingency (or, ❑ If checked, Buyer shall, as specified In paragraph 14B(3), In writing
remove the appraisal contingency or Cancel this Agreement within 17 (or ) Days After Acceptance). If there Is no loan contingency,
Buyer shall, as specified In paragraph 14B(3), in writing remove the appraisal contingency or cancel this Agreement within 17 (or )
Days After Acceptance.
J. ❑ ALL CASH OFFER (If chocked): Buyer shall, within 7 (or ❑ ) Days After Acceptance, Deliver to Seller written verification of
sufficient funds to close this transaction. (If checked. ❑ verification attached.)
K. BUYER STATED FINANCING: Seller has relied on Buyers representation of the type of financing specified (including but not 6miled to, as
applicable, amount of down payment, contingent or non contingent loan, or all cash), If Buyer seeks alternate financing, (1) Seller has no obligation
to cooperate with Buyer's efforts to obtain such financing, and (it) Buyer shall also pursue the financing, method specified In this Agreement.
Buyers failure to secure alternate financing does not excuse Buyer from the obligation to purchase the Property and close escrow w specified in
this Agreement.
4. ALLOCATION OF COSTS (If checked): Unless otherwise specified in writing, this paragraph only determines who Is to pay for the Inspection, test or
service ("Roporl mentioned: It does not determine who is to pay for any work recommended or Identl lied in the Report.
A. INSPECTIONS ANO REPORTS:
(1) ❑ Buyer ❑ Seller shall pay for an Inspection and faport for wood destroying pests and organisms ( "Wood Poet Report") prepared by
a registered structural post control company,
(2) 0 Buyer ❑ Seller shall pay to have Septic or private sewage disposal systems pumped and Inspected
(e) [] Buyer Q Salter shall pay to have domestic wells tested for walor potability and productivity
(4) 0 Buyer ® Seller shall pay for a natural hazard zone disclosure report prepared by Property m
(e) Q Buyer ❑ Seller shall pay for the following Inspection or (epos
(6) ❑ Buyer ❑ Salter shall pay for the following Inspection or report
B. GOVERNMENT REQUIREMENTS AND RETROFIT:
(1) ❑ Buyer ® Seler shaft pay for smoke detector installation andfor water heater bracing, it required by Law. Prior to Close Of Escrow, Seller
shall provide Buyer wrillen statemenf(s) of compliance in accordance with state and local Law, unless exempt.
(2) Q Buyer ® Seller shall pay the cost of compliance with any other minimum mandatary government retrofit Standards. inspections and
nations 11 requirea as a condition of closing escrow under any Lew,
C. ESCROW AND TITLE:
(1) ® Buyer ® Seller shall pay escrow lee anT+r en /Rn by buyer rind.. sal Ier
Esaow Holdor shall bo £ir7 l+r••.brari t
(2) ❑ Buyer (M Seller shall pay for ownars title insurance policy specified in paragraph 12E
Owners Mlle policy to be issued by Fidel f ty He t+ena 1 T+ a +o
(Buyer shall pay for any title insurance policy insuring Buyors lender, unless otherwise agreed in writing,)
O. OTHER COSTS:
(1) Q Buyer ® Seller shall pay County transfer lax or foe
(2) ❑ Buyer ❑ Seller shall pay City transfer tax or foe
(3) ❑ Buyer ® Seller shall pay Homeowner's Association ( "HOA ") transfer too ,tf applicabla
(4) ❑ Buyer ® Seller shall pay HOA document preparation foes if appl!:onbla _
(s) Q Buyer ® Seller shall pay for any private transfer too if annl f nebli:
(B) ❑ Buyer ® Seller shall pay the cast, not to exceed $ 400. 00 , of o one -year home warranty plan.
Issued by Zidoll t Home Warraa , with the following optional coverages:
❑ Air Conditioner 0 PDOVSPs ❑ Code and Permit upgrade ❑ Other:
Buyer Is Informed that home warranty plans have many optional coverages In addition to those listed above, Buyer Is advised to investigate
these covefagas to determine those that may be suitable for Buyer.
(7) ❑ Buyer ❑ Seller shall pay for
(8) ❑ Buyer [j Seller shall pay for cow
Buyers Initials (��) ( ) Sellors,lnillats
Co igh101a91- 2010,CAL6eRNIAASSMIA710NOF REALTORSO.M Rcvlevied by Data L
RPA-CA REVISED 4110 (PAGE 2 OF 8) rr :r°J1a�lMr
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA•CA PAGE 2 OF 8) 1327 Glenbrook -
1327 Glen-brook
Property Address: Arroyo Grande, CA 93420 Date: Soptember 23, 2012
5. CLOSING AND POSSESSION:
A. Buyer intends (or ❑ does not intend) to occupy the Property as Buyers primary residence.
B. Sollor- occuplod or vacant property: Possession shall be delivered to Buyer at 5 PM or (® 14:00 (M AM ❑ PM), on the date of Close
Of Escrow, ❑ on ; or ❑ no later then Days After Close Of Escrow. If transfer of title
and possession do not occur at the same time. Buyer and Salter are advised to: (1) enter Into a written occupancy agreement (C.A.R, Form PAA,
paragraph 2); and (II) consult with their insurance and legal advisors,
C. Tenant- occupled property:
(q Property shell be vacant at least 6 (or ❑ ) Days Prior to Close Of Escrow, union olhotwlse agreed In writing. Note to Sailor:
If you are unable to deliver Property vacant In accordonce with rant Control and other applicable Law, you may be In breach of this
Agreement.
OR (II) (it checked) Q Tenant to remain In possession. (C.A.R. Form PAA, paragraph 3)
D. At Close Of Escrow, (1) Seller assigns to Buyer any assignable warranty rights for items included In the sate, and (ii) Seller shall Deliver to Buyer
available Copies of warranties, Broken 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/of 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 o
deposit to the Homeowners' Associatlon ('HOA ") to obtain keys to accessible HOA facilities.
g, STATUTORY DISCLOSURES (INCLUDING LEAD -BASED PAINT HAZARD DISCLOSURES) AND CANCELLATION RIGHTS:
A. (1) Seller shall, within me time specInea In paragraph 14A, Deliver to Buyer, If required by Lew: (i) Federal Lead -Based Point Disclosures (C.A.R,
Form FLD) and pamphlet ('Lead Disclosures'): and (Ip disclosures or notices required by sections 1102 eL seq. and 1103 et. seq. of the Civil
Code ("Statutory Disclosures "). Statutory Disclosures include. but are not limited to, a Real Estate Transfer Disclosure Statement (- TOS -),
Natural Hazard Disclosure Statement ('NHD'), notice of actual knowledge of release of Illegal Controlled substance, notice of special tax
and /or assessments (or. If allowed. substantially equivalent notice regarding the Mello -Roos Community Facilities Act and Improvement Bond
Act of 1915) and, If Seller has actual knowledge, of industrial use and military ordinance location (CA.R. Form SPO of SSG).
(2) Buyer snail, within the time specified in pemgraph 148(1); return Signed Copies of the Statutory and Lead Disclosures to Seller,
(3) In the avant Seller, prior to Close Of Escrow, becomes aware of advorae conditions materially affecting the Property, or any material
inaccuracy in disclosures, information or representations previously provided to Buyer. Seller shall promptly provide o subsequent of
amended disclosure or notice, in writing, Covering those items. However, a subsequent or amended disclosure shall not be required (or
conditions and malarial inaccuracles of which Buyer is otherwise aware, or which are disclosed In reports provldotl to or obtained by
Buyer or ordered and paid for by Buyer.
(4) If any disclosure or notice specified in 6A(t), or subsequent or amended disclosure or notice Is Delivered to Buyer after the offer is Signed,
Buyer sholl have the right to Cancel this Agreement within 3 Days After Delivery In person, or 5 Days Ahor Delivery by deposit in the mail, by
giving written notice of cancellation to Seller or Sellers agent.
(5) Note to Buyer and Seller: Waiver of Statutory and Lead Dlsclosurae is prohibited by Low.
B. NATURAL AND ENVIRONMENTAL HAZARDS: Within the time specified in paragraph 14A. Seller shall, If required by Low; (1) Deliver to Buyer
earthquake guides (and questionnaire) and environmental hazards booklet; (ii) even II exempt from the obligation to provide a NHD, disclosed(
the Property Is located In a Spacial Flood Hazard Area; Potential Flooding (Inundation) Area; Very High Fire Hazard Zone; Slate Fire
Responsibility Area; Earthquake Fault Zone; Seismic Hazard Zone; and (Ili) disclose any other zone as required by Law and provide any other
information required for those zones,
C. WITHHOLDING TAXES: Within the time specified in paragraph 14A, to avoid required withholding, Sailor shall Deliver to Buyer or qualified
substitute, an affidavit sufficient to comply with federal (FIRPTA) and California withholding Law, (C.A.R. Form AS or OS).
D. MEGAN'S LAW DATABASE DISCLOSURE: Notice: Pursuant to Section 290.46 of the Panel Code, Information about specified registered sax
offenders is made available to me public via an Internal Web site maintained by the Department of Justice at www,meganelow,co,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 not Brokers are required to check this website. If Buyer wants further Information, Broker
recommends that Buyer obtain Information from this website during Buyei s Inspection contingency padod. Brokers do not have expertise in this
area.)
7. CONOOMINIUMIPLANNED DEVELOPMENT DISCLOSURES:
A. SELLER HAS: 7 (or ❑ ) Days After Acceptance to disclose to Buyer whether the Property Is o condominium, or is located In a
planned development or 0—M et common interest subdivision (C.A,R. Forth SPO or SSD),
B. It the Property Is atondominium or Is located In a planned development or other common interest subdivision, Sailor has 3 (or ❑ )
Days After Acceptance Io request from the HOA (C.A.R. Form HOA): (q Coples of any documents required by Law; (II) disclosure o aWny pe— Gg
or anticipated claim or litigation by or against the HOA; (It) a statement containing the location and number of designated parking and storage
space$; (iv) Copies of the most recent 12 months of HOA minutes for regular and special meetings; and (v) the names and Contact information of
all HOAs governing the Property (collectively, "Cl Disclosures'). Seller shall Itemize and Deliver to Buyer all Cl Disclosures received Item the IIOA
and any Cl Disclosures in Sellers possession. Buyers approval of Cl Disclosures is a contingency of this Agreement as specified In paragraph
14B(3).
8. ITEMS INCLUDED IN AND EXCLUDED FROM PURCHASE PRICE:
A. NOTE TO BUYER AND SELLER: Items listed as included or excluded In the MLS, fryers or marketing materials are not Included In the purchase
price or excluded from the sole unless specified in BB 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. Calling fans, fireplace Inserts, gas loge and grates, seta( systems,
bullhin appliances, wind" and door screens, awnings, shutters, window coverings, attached floor coverings, television antennae, satellite
dishes, ptiwto Integrated telephone systems, air coolerstconditionars, poo8apa oqulpmenl, garage door openers /remote Controls, mailbox,
In- ground landscaping. treesyshfubs, water softeners, water purifiers, security systemstalarms; (If checkedo stovo(s), ❑ roffigorotor(a): and
(3) The following additional Items:
(4) Seltaf 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: Unless otherwise specified, audio and video components (such as not screen TVs and spaakors) are excluded
if any such Item is not Itself attached to the Property. even If a bracket or other mechanism attached to the Component is attached to the Property;
and ,P,
Buyer's Initials (4 _ ) ( ) Sallere Initials ( }( )
CeoN,pNO IN I•N1a CA WOMAASSOCIATION OF REALTORSO. INd
RPA-CA REVISED 4110 (PAGE 3 OF 8) Rwlowod by Dote j 1Ar,
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA -CA PAGE 3 OF 8) 1327 Glcnbrwk -
1327 Glenbrook
Property Address: Arroyo Grande, CA 93420 Date: September 23, 2012
9. CONDITION OF PROPERTY: Unless otherwise agreed: (i) the Property 1s sold (a) In its PRESENT physical ("as-Is") condition as of the data of
Acceptance and (b) subject to Buyer's Investigation rights; (11) the Property, Including pool, spa, landscaping and grounds, Is to be maintained in
substantially the some condition as on the date of Acceptance; and (III) all debris and personal property not included In the sale shall be removed by
Seller by Close Of Escrow.
A. Seller shall, within the time specified In paragraph 14A, DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting the Property, including
known insurance claims within the post live years, and make any and all other disclosures required by law,
B. Buyer has the right to inspect the Property and, as specified in paragraph 14B, hosed upon information discovered in those Inspections: (1) cancel
this Agreement; of (Ill request that Seller make Repairs or lake other action.
C. Buyer Is strongly advised to conduct Investigations of the ontlra Property in order to determine Its present condition. Seller may not be
aware of all defects affecting the Property or other factors that Buyer considers ImportonL Property ImprovemonM may not be built
according to coda, in compliance with current Law, or have had permits Issued.
10. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A. Buyers 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 Buyers expense unless othemisa
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 point hazards; (iq Inspect for wood destroying peals and organisms; (111) review the
registered sex offender database: IN) confirm the insurability of Buyer and the Property; and (v) satisfy Buyer as to any matter Specified in the
attached Buyers Inspection Advisory (C.A,R, Form BIA). Without Sellers prior written consent, Buyer shall neither make nor cause to be made: (I)
invasive or destructive Buyer tnvestigalions; or (Ill Inspections by any governmental building or zoning Inspector of government employee, unless
required by Law.
B. Seller shall make the Property available for all Buyer Investigations, Buyer shall (i). as specified in paragraph 14B, Complete Buyer Investigations
and, either remove the contingency or cancel this Agreement, and (ii) give Seller, at no cost, Complete Copies of all Investigation reports obtained
by Buyer, which obligation shall survive the termination of this Agreement.
C. Seller shall have water, gas, electricity and all operable pilot lights on for Buyers Investigations and through the data possession Is made
available to Buyer.
D. Buyer Indomnity and Sailor protection for entry upon property: Buyer Shall: (1) keep the Property free and clear of lions; (II) report all damage
arising from Buyer Investigations; and (Ili) Indemnity and hold Seller harmless from all resulting liability, claims. demands, damages and costs of
Buyers investigations. Buyer shall carry, or Buyer shall require anyone acting on Buyers 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
loo afforded Seller by recording a "Notice of Non- reSponsibilily' (C A.R. Form NNR) for Buyer Investigations and work done on the Property at
Buyers direction, Buyers obligations under this paragraph shall Survive the termination or concebodon of this Agreement and Close of Escrow.
11. SELLER DISCLOSURES; ADDENDA; ADVISORIES; OTHER TERMS:
A.
C.
D. Other Terms:
12. TITLE AND VESTING:
A. Within the time specified in paragraph 14, Buyer shall be provided a current preliminary title report, which shall include a search of the General
Index. Seller shall within 7 Days After Acceptance give Escrow Holder a completed Statement of Information, The preliminary report is only an
offer by the title insurer to issue a policy of title insurance and may not contain every Item effecting title. Buyer's review of the preliminary (open
and any other matters which may affect title are a contingency of this Agreement as specified in paragraph 148.
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 Acceptanw except: (f) monetary lions of record unless Buyer Is assuming those obligations or taking
the Properly subject to those obligations; and (it) 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 effecting title, whether of record or
not.
D. At Close Of Escrow, Buyer shall receive a grant deed convoying title (or, for stock Cooperative or long-term lease, an assignment of stock
certificate or of Sellers leasehold interest), including oil, minerol and water rights if currently owned by Seller. Title shall vast as designated in
Buyer's supplemental escrow Instructions. T1/E MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT LEGAL AND TAX CONSEOUENCES.
CONSULT AN APPROPRIATE PROFESSIONAL,
E. Buyer shall receive a CLTA/ALTA Homeowners Policy of Title Insurance. A title Company, at Buyers request, con provide Information about the
availability, desirability, coverage, survey requirements, and cost of various title Insurance coverages and endorsements. If Buyer desires title
Coverage other than that required by this paragraph, Buyer shall Instruct Escrow Holder in writing and pay any Increase in cost.
13. SALE OF BUYER'S PROPERTY:
A. This Agreement Is NOT contingent upon the sale of any property owned by Buyer.
OR B. ❑ (If checked): The attached addendum (C,A,R, Form COP) regarding the Contingency for the sale of Property owned by Buyer is incorporated
Into this Agreement, Al
Buyers Initials (_) ( ) Seller's Initials (( _
CapydgN O 101 @010, CAdFOMA Aa9OCIA110N OF REALTORae, INC
RPA-CA REVISED 4)10 (PAGE 4 OF S) Ravlewotl try Oats v1Wa
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA -CA PAGE 4 OF S) 1327 Olcnbruok -
1327 Glenbrook
Property Address: Arroyo Grande, CA 93420 Date: Soptember 23, 2012
14. TIME PERIODS; REMOVAL OF CONTINGENCIES; CANCELLATION RIGHTS: The following time periods may only be extended, altered,
modified or changed by mutual written agreement. Any removal of contingencies or cancellation under this paragraph by either Buyer or
Sailor must be exercised In good faith and In writing (C.A.R. Form CR or CC).
A. SELLER HAS: 7 (or ) Days After Acceptance to Deliver to Buyer oil Rapers, disclosures and information for which Seller Is
responsible under paragraphs 4, 6A, D and C. 7A, 9A, t 1A and B. and 12. Buyer may give Sailor a Notice to Seller to Perform (C.A.R. Form NSP)
if Seller has not Delivered the Items within the time specified.
B. (1) BUYER HAS: 17 for I Days After Acceptance, unless otherwise agreed In writing, to:
(1) Complete all Buyer Investigations; approve all disclosures, reports and olnor applicable Information, which Buyer receives from Sollor; and
approve all other Terrors off acting the Property; and
(11) Deliver to Seller Signed Copies of Statutory and Lead Disclosures Delivered by Seller in accordance with paragraph 6A.
(2) Within the time specified In 14B(1), Buyer may request that Sailor make repairs or take any other action regarding the Property (C.A.R. Form
RR). Seller has no obligation to agree to of respond to Buyer's requests.
(3) Within the time specified In 148(1) (at as otherwiso specified in this Agreement), Buyer shall Deliver to Seller either (1) o removal of the
applicable Contingency (C.A.R. Form CR), or (Ii) a cancellation (C, A.R. Form CC) of this Agreement based upon a contingency or Setters
failure to Deliver the specified Items, However, If any report, disclosure or information for which Seller is responsible Is not Delivered within the
time specified In 14A, then Buyer has 5 (or ) Days After Delivery of any such Items, or the time specified In 14B(1), wnlchover
is later, to Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement.
(4) Continuation of Contingency: Even after the and of the time specified In 1413(1) and before Sailor Cancels this Agreement, it at all, pursuant
to 14C, Buyer raisins the right to either (q In writing remove remaining contingencies, Or (II) cancel this Agreement based upon a remaining
contngency or Seller's failure to Deliver the specified terms, Once Buyer's written removal of all Contingencies is Delivered to Seller. Seller
may not Cancel this Agreement pursuant to 14C(t),
C. SELLER RIGHT TO CANCEL:
(1) Seller right to Cancel; Buyer Contingencies: If, within time specified In this Agreement, Buyer does not. in writing. Deliver to Sailor a
removal of the applicable Contingency or cancellation of this Agreement than Seller, after first Delivering to Buyer a Notice to Buyer to Perform
(C.A.R. Form NBP) may cancel this Agreement. In such event, Seller shell authorize return of Buyer's deposit,
(2) Sailor right to Cancel; Buyer Contract Obligations: Seller, after first Delivering to Buyer a NBP may cancel this Agreement for any of the
following reasons: (1) if Buyer fails to deposit funds es required by 3A or 3B: (11) If the funtls deposited pursuant to 3A or 33 era not good when
deposited; (ill) If Buyer falls to Deliver a notice or FHA or VA costs or terms as required by 3C(3) (C.A.R, Form FVA); (iv) if Buyer falls to
Deliver a letter as required by 311; (v) if Buyer fails to Deliver verification as required by 3G or 3J; (vi) If Seller reasonably disapproves of the
verification provided by 3G or 3.1; (vii) if Buyer falls to return Statutory and Lead Disclosures as required by paragraph 6A(2); or (vlll) If Buyer
falls to sign or Initial a separate liquidated damage form for on increased deposit oe required by paragraphs 38 and 25. In such event, Seller
Shall authorize return of Buyers deposit.
(3) Notice To,Buyer To Perform: The NBP shall: (I) be In writing; (it) be signed by Sailor; and (ill) give Buyer at least 2 (or ❑ ) Days
After Delivery (or until the time specified In the applicable paragraph, whichever occurs last) to lake the applicable action. X—FlUfF—may not be
Delivered any earlier than 2 Days Prior to the expiration of the applicable time for Buyer to remove a contingency of cancel this Agreement or
meet an obligation specified In I4C(2).
D. EFFECT OF BUYER'S REMOVAL OF CONTINGENCIES: If Buyer removes, In writing, any Contingency or cancellation tights, unless otherwise
specified in a separate written agreement between Buyer and Seller. Buyer shall with regard to that contingency or cancellation right conclusively
be doomed to have: (I) completed all Buyer Investigations, and review of reports and other applicable Information and disclosures: (II) elected to
proceed with the transaction; and (Ill) assumed all liability, responsibility and expense for Repairs or =fractions or for Inability to obtain financing.
E. CLOSE OF ESCROW: Before Seller or Buyer may cancel this Agreement for failure of the other party to close escrow pursuant to this
Agreement. Seller or Buyer must first give the other a demand to close escrow (C.A.R. Form DICE).
F. EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seiler gives written notice or cancellation pursuant to rights duly exercised under the
terms of this Agreement, Buyer and Sailor agree to Sign mutual Instructions to Cancel the sale and escrow, and release deposits, if any, to the
Perry entitled to the funds, less fees and Costs Incurred by that party. Fees and Costs may be payable to service provident and vendors fat
services and products provided during escrow. Release of funds will require mutual Signed release Instructions from Buyer and Seller,
judicial decision or arbitration award. A Buyer or Sailor may be subject to a civil penalty of up to $1,000 for refusal to sign such
Instructions if no good faith dispute oxists as to who Is entitled to the deposited funds (Civil Code §1057.3).
15, REPAIRS: Repairs shall be completed prior to Mal verification of Condition unless otherwise agreed in writing. Repairs to be performed at Sollors
expense may be performed by Seller or through others, provided that the walk complies with applicable Low, including governmental permit,
inspection and approval requirements. Repairs shall be performed In a good• skillful monnor with materials of quality and appearance Comparablo to
existing materials. It understood that exact restoration of appearance or Cosmetic Items following all Repairs may not be possible. Seller shall: (1)
obtain receipts for Repairs performed by others; (11) prepare a.wrllten statement Indicating the Repairs performed by Seller and the date of such
Repairs; and (1ll) Pravda Copies of receipts and statements to Buyer prior to final verification of Condition.
16. FINAL VERIFICATION OF CONDITION: Buyer shot] have the right to make o final Inspection of the Property withln5 (or ) Days Prior
to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm: (1) the Property is maintained pursuant to paragraph
Repairs have been completed as agreetl; and (Ill) Seller has complied with Sellers other obligations under this Agreement (CA.R. Form VP).
17. PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS: Unless otherwise agreed In writing, the following items shall be PAID CURRENT and
prorated between Buyer and Seller as of Close Of Esaow: feel property taxes and assessments. Interest, rants, 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 arc a current lien. The following
items shell be assumed by Buyer WITHOUT CREDIT toward the purchase price: prorated payments on Mollo-Roos and other Special Assessment
District bonds and assessments and HOA special assessments that are a current Ilan but not yet due. Property will be reassessed upon change of
ownership. Any supplemental lax bills shall be Paid as folio": (1) for periods after Close Of Escrow. by Buyer, and (II) for periods prior to Close Of
Escrow, by Seller (see C.A,R. Form SPT or SBSA for further Infa maton), TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE HANDLED
DIRECTLY BETWEEN BUYER AND SELLER, Prorations shall be made based on a 30-day month.
Buyers Initials ( d ) ( ) Sellers Initials O (Z41 E---' )
Conyriahl O laa1•2010, CALIFORNIA ASSOCIATION Of REALTORS®, INC
RPA-CA REVISED 4110 (PAGE 5 OF 8) r0 od by Date aril i�
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA•CA PAGE 5 OF 8) 1327 Dlenbruok -
1327 Glenbrook
Property Address: Arroyo Grande, CA 93420 Dale: September 23, 2012
18. SELECTION OF SERVICE PROVIDERS: Brokers do not guarantee the porformence of any vendors, service or product providers ("Providers'),
whether referred by Broker or selected by Buyer. Seller or other person. Buyer and Seller may select ANY Providers or their own choosing.
19. MULTIPLE LISTING SERVICE ( "IALS "): Brokers are authonzcd to report to the MIS a pending sale and, upon Close Of Escrow, the solos price and
other terms of this transaction shell be providetl to the MLS to be published and disseminatod to portions and Ontities authorized to use the
information on terms approvod by the MLS.
20. EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with fetleral, stale and local antidiscrimination Laws.
21. ATTORNEY FEES: in any action, proceeding, or oralualion between Buyer and Seller arlsing out of this Agreement, the provalling Buyer or Sailor
shall be entitled to reasonable attorney fees and were from the non prevailing Buyer or Sailor, except as provided in paragraph 26A,
22. DEFINITIONS: As used In this Agreement:
A "Acceptance" means the time the offer or final counter offer Is accepted In willing 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 Mal counter offer.
B. "C.A.R. Form" means the specific form referenced or another comparable form agreed to by the parties,
C. "Close Of Escrow- means the date the grant deed, or other evidence of transfer of title, is recorded.
D. "Copy" means copy by any means Including photocopy. NCR, faalmite and electronic.
E. "Days" means calendar days. However, After Acceptance, the last Day for oedprmance of any act required by this Agreement (including Close
01 Escrow) shall not Indeed any Saturday. Sunday, or legal holiday and shall Instead be the next Day.
F. "Days After" means the specified number of calendar days after the occurrence of the event specified, not counting the calendar dale on which
the specified event occurs. and ending at 11:50PM an the final day.
G. "Days Prior, means the spedfted number of calendar days before the occurrence of the event specified, not counting the calendar dale on which
the specified avant Is scheduled to occur.
H. "Deliver", "Delivered" or "Delivery", regardless of the method used (1.e. messenger, mall, email, fox, other), means and shall be effective upon
(i) personal receipt by Buyer or Seller or the individual Real Estate Licensee for that principal as specified in paragraph D of the section tmod Real
Estate Brokers on page 8; OR (Ii) if checked, 0 par the attached addendum C.A.R. Form RON).
1, "Electronic Copy" or "Electronic Signature" means, as applicable, an electronic Copy at signature complying with California Low, Buyer and
Seller agree the( electronic means will not be used by either party to modify or altar the content or Integrity of this Agreement without the
knowledge and consent of the other party.
J. "Lew" means any law. Code, statute, ordinance, regulation, rule or order, which Is adopted by a controlling city, county, slate or federal Iogishrovo,
judicial or exocudvo body or agency.
K. "Repairs" moons any repairs (including pest control), alterations, replacements, modifications or retrofitting of the Property provided for under this
Agreement.
L. "Signed" means either a nandwfilton or electronic signature on an original document. Copy or any counterpart,
20. BROKER COMPENSATION: Seller or Buyer, or both, as applicable, agrees to pay compensation to Broker as specified in a separate written
agreement between Broker and that Seller or Buyer. Compensation is payable upon Close Of Escrow, or it escrow does not close, as otherwiso
specified in the agreement between Broker and that Sailor Or Buyer
24. JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:
A. The following paragraphs, or applicable portions thereof, of this Agreement constitute the joint escrow Instructions of Buyer and Sulfur
to Escrow Holder, which Escrow Holder Is to use along with any related counter offers and addenda, and any additional mutual Instructions to
close the escrow. 1, 3, 4, 6C, 11 B and D, 12, 13B, 14F, 17, 22, 23, 24, 28, 30, and paragraph D of the section tilled Real Estate Drokors on page
6. If a Copy of the separate compansalion agreoment(s) provided for in paragraph 23, or paragraph D of the section tilled Real Estate BrOkel5 on
page 6 is deposited with Escrow Holder by Broker, Escrow Homer shall accept such agreements) and pay out of Buyers or Sollars funds, or
both, as applicable, the respective Broker's cdmpsnsalion provided for In such agroemenl(s). The terms and Conditions of this Agreement not
specifically referenced above, In the specified paragraphs are additional matters for the Information of Escrow Holder, but about which Escrow
Holder need not as concerned. Buyer and Seller will receive Escrow Homer'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 or Escrow Holder only, Buyer and Seller will execute additional Instructions, documents and
forms provided by Escrow Holder that are reasonably nacessary to close the escrow.
B. A Copy of this Agreement shag be delivered to Escrow Holder within 3 business days after Acceptance (or ❑
), Escrow Holder shall provide Sellers Statement of
Information to Title company when received from Sailor. Buyer and Seller authorize Escrow flolder to accept and rely on Copies and Signatures
as defined in this Agreement as originals. to open escrow and tot other purposes of escrow. The validity of this Agreement as between Buyer and
Seller is not affected by whether or when Escrow Holder Signs this Agreement,
C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraphs 23 and paragraph D of the section titles Real
Estate Brokers on page 6. Buyer and Seller irrevocably nssign to Brokers compensation specified In paragraphs 23, respectively, and irrevocably
instruct Escrow Holder to disburse those funds to Brokers at Close Of E5CTOW or pursuunt to any other mutually executed cancellation agreement.
Compensation instructions can be amended or revoked only with the written consent or Brokers. Buyer and Seller shall release and hold harmloss
Escrow Holder from any liability resulting from Escrow Holder's POym811t to Brakor(s) of Compensation pursuant to this Agreement. Escrow Holder
shall Immediately notify Brokers: (1) if Buyer's inlllal or any additional deposit is not made pursuant la this Agreement. or is not good at time of
deposit writ Escrow Holder; or (ii) it either Buyer or Seller instruct Escrow Haider to eancol escrow,
D. A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be delivered to Escrow
Holder within 2 business days after mutual execution of the amendment.
Buyer's Initials ( ) ( ) Sellers 11110Sls
Cop,,, O Ira L2m0, CALIFORNIA ASSOCIATION OF REALTORSA, INC
RPA-CA REVISED 4110 (PAGE 8 OF 8) Print Data Reviewed by Dnta IrlewallwNe:
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA•CA PAGE G OF 0) 1327 Glcnhrmk
1327 Glonbrook
Property Address: Arroyo Grande, CA 93420 Dale: September 23, 2012
25.LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyers default, Seller shall retain, as
liquidated damages, the deposit actually paid. If the Property is a dwelling with no more than four units, one of which Buyer
intends to occupy, then the amount retained shall be no more than 3% of the purchase price. Any excess shall be returned
to Buyer. Release of funds will require mutual, Signed release Instructions from both Buyer and Seller, judicial decision or
arbitration award. AT TIME OF THE INCREASED DEPOSIT BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED
DAMAGES PROVISION FOR ANY INCREASED DEPOSIT. (C.A.R. FORM RID). 1J-f9 . I _,
26. 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 coun action. Buyer and Sailor also agree to mediate any disputes or claims with Brokogs), who, in writing,
agree to such mediation prior to, or within a reasonable time after, the dispute or claim is presented to the Broker. Mediation foes, If any,
shall be divided equally among the Parton Involved. It, for any dispute or Claim to which this paragraph applies, any party (Q Commences an action
without tint attempting to resolve the matter through mediation, or (II) before Commencement of an action, fetuses to mediate after a request has
been made, then that party shall not be entitled to recover attorney loos, oven If they would otherwise be available to that party in any such action,
THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION PROVISION IS INITIALED. Exclusions from this mediation
agreement are specified In paragraph 26C.
B. ARBITRATION OF DISPUTES:
Buyer and Seller agree that any dispute or claim In Law or equity arising between them out of this Agreement or any
resulting transaction, which is not settled through mod12tion, shall be decided by neutral, binding arbitration. Buyer and
Sailor also agree to arbitrate any disputes or claims with Broker(s), who, in writing, agree to such arbitration prior to, or
within a reasonable time after, the dispute or claim Is presented to the Broker. The arbitrator shall be a retired judge or
justice, or an attorney with at least 5 years of residential real estate Law experience, unless the parties mutually agree to
a different arbitrator. The parties shall have the right to discovery In accordance with Code of Civil Procedure §1283.05.
In all other respects, the arbitration shall be conducted in accordance with Title 8 of Part 3 of the Code of Civil
Procedure. Judgment upon the award of the arbitrator(s) may be entered Into any court having jurisdiction. Enforcement
of this agreement to arbitrate shall be governed by the Federal Arbitration Act. Exclusions from this arbitration
agreement are specified in paragraph 26C.
"NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING OUT
OF THE MATTERS INCLUDED IN THE'ARBITRATION OF DISPUTES' PROVISION DECIDED BY NEUTRAL ARBITRATION
AS PROVIDED BY 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 ARBITPATION." ,
C. ADDITIONAL MEDIATION AND ARBITRATION TERMS:
(1) EXCLUSIONS: The following matters shall be excluded from mediation and arbitration! (1) a judicial or non - judicial foreclosure or
other action or proceeding to enforce a dead of trust, mortgage or Installment land sale contract as dofinod In Civil Code 52885; (11)
an unlawful detainee action; (III) the filing or onforeement of a mechanic's lion; and (iv) any matter that Is within the jurisdiction or a
probate, small claims or bankruptcy court. The filing of a court action to enablo the recording of a notice of pending action, for
order of attachment. rocolvorship. Injunction, or other provisional romedles, shall not constitute a waiver or violation of the
mediation and arbitration provisions.
(2) BROKERS: Brokers Shall not be obligated or compollod to mediate or arbitrate unless they agree to do so In writing. Any Brokor(s)
participating In mediation or arbitration shall not be doomod a pale to the Agreement.
27. TERMS AND CONDITIONS OF OFFER:
This is an offer to purchase the Property on the above terms and conditions. The liquidated damages paragraph or the arbitration of dispute$
paragraph is incorporated in this Agreement If Initiated by all parties or If Incorporated by mutual agreement In a counter offer or addendum. If at least
one but not all ponies Initial such parograph(s), a counter offer Is required until agreement is reached. Seller has the right to continuo to offer the
Property for solo and to accept any other offer at any time prior to notification of Acceptance. It 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 countorpans, all of which shall Constitute one and the some writing.
28. TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time is of the essence. All understandings between the parties are incorporated In this
Agreement. Its terms are Intended by the parties as a final, cornOeto and exclusive expression of their Agreement with respect to Its subject matter,
and may not be contradicted by ov dance of any prior agreement or Contemporaneous oral agreement. If any provision of this Agreement is hold to be
Ineffective or invalid, the remaining provisions will nevertheless be given full force and offset. Except as otherwise specified, this Agreement shall be
interpreted and disputes Shall be resolved in accordance with the laws of the State of California. Neither this Agreement nor any provision In it
may be extended, amended, modified, altered or changed, except in writing Signed by Buyer and Seller.
Buyers Willits ( —4-11) ( ) Sellers 111181115 (_, )
Copniytle 1991.21no CALIFORNIA ASSOC IATION OF REALTOR6e.WC Reviewed Data t
RPA-CA REVISED 4110 (PAGE 7 OF 8) ^ ^'11101
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT(RPA -CA PAGE 7 OF 8) 1327 Glmbrook -
1327 Glenbrook
Property Address: Arroyo Grande, CA 93420 Dale: September 23, 2012
29. EXPIRATION OF OFFER: This offer shall be deemed revoked and the deposit shall be returned unless the offer is Signed by Seller and a Copy of the
Signed offer Is personally received by Buyer, or by Allnn RonA Ee to to InvOstmanta , who is
authorized to receive it, by 5 :00 PM 5717-0-771—rd ay o er t Is after is sgnca by Buyer �or�cFu I.IFQg by
1l • 00 ® AM ❑ PM, on Sogtombor T5. 2.012 (tTalo)),
Buyer has read and acknowledges receipt of a Copy of the offer and agrees to the above confirmation of agency relationships.
Data 091234;012 ^, Date
O,(l/2C ��y
BUYER nia/ / BUYER.
r.auxo
(Print name (Print name
❑ Additional Signature Addendum attached (C.A.R. Form ASA).
20. ACCEPTANCE OF OFFER: Sailor warrants that Sailor 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 day to Buyer. /L
(If checked) SUBJECT TO ATTACHED COUNTER OFFER (C.A.R. Form CO) DATED:
Data ,� ( Date �4
SELLER SELLER
1{O Vin Rq9 HnnthDr D 099
( r nl name) (Print name)
(Address)
❑ Additional Signature Addendum attached (C.A.R, Form ASA).
( I ) CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was personalty received by Buyer or Buyer's authorized
(Initials) agent on (date) at 0 A ❑ PM, A binding Agreement Is created when
o Copy of Signed Acceptance Is ponsonally rocoivad 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 occurmd.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement Common Buyer and Sailor.
B. Agency relationships are conflrmod as staled In paragraph 2.
C. It sped0ed in paragraph 3A(2), Agent who submitted the offer for Buyer acknowledges receipt of deposit.
D. COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating Broker (Selling Firm) and Cooperating Broker agrees to
accept, out of Listing Broker's proceeds In escrow: (q the amount specified In the MLS, provided Cooperating Broker is o Participant of the MLS In
which the Property is offered for sale or a reciprocal MLS: or fill ❑ (if checked) the amount specified in a separate written agrenment (C.A.R. Form
CBC) between Listing Broker and Cooperating Broker. Declaration of License and Tax (C.A.R. Form DLT) may be used to document that tax reporting
will be required or that an axe o xists.
Rea s Broker (Sell in I ORE Lic. a Ooo57 qa3
By URE Lic, 0 01705060 Date 09/23/2012
'Lp
Adtl or .1 1 n R ad City Slate CA 93420
Telephone - -ax - - mal'nhn Nnpallnn roaln9ta to. cam
Real Estate Broker- tLisling Firm) onto Pi—Ilom. vn Ranie cam- ORE Lic. a 01 1 ' 3
By ro. Dale * a r _
Address 1350 V. n v CM1Y Arrovo Ccnndx Stale CA p 93421 0
Talephona - - Bz R05-4R9-67133 •mat nrnlnhpc2Thomn. comp
ESCROW HOLDER ACKNOWLEDGMENT:
yoir�
Escrow Holder acknowledge receipt of a Copy of this Agreement, (If cheClieQ a deposit In the amount of $ ),
counteroffer numbered e -Jn� ❑ Seller 6 S101em of formation and ❑ Other
en agrees to act as Escrow Holder subject to paragraph 24 or this Agreement, any
supplemental escrow instructions and the terms of Escrow Holder's general provisions if any,
Escrow Holdar S o vaed that the dote of Confirmation of Acceptance of the Agreement as between Buyer and Salter Is
Esc w Hold Escrow a
py - Date - 7
C�j
Address 7 - It! r� • `
PhonefFa I r - -
Eacrew Holder is licensed b9 me ualaornia Uoparnmom
or or ore ro s, Fence.❑ Rea 'Estate. License ff
PRESENTATION OF OFFER: f ) Listing Broker presented this offer to Seller on
Broker or Designee Initial! IT
REJECTION OF OFFER: (_ ) ( _ ) No counter offer is being made. This otter was rejected by Sulfur on (dote),
Sellers INllan
11115 FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORSO (CAR I. NO Rtr'NC9:Nrw nOR IS m,a,c ,v+ TO .,m •C rnLrri m, wcwnvo Or , i
PROVISION W ANY SPECIFIC TRANSACTION A REAL ESTATE BROKER 19 THE PERSON OUALIFIEO TO AUVISE ON REAL ESTATE TRANSACTIONS IF YOU DESIRE LEGAL OR NIA ADVICE,
CONSULT AN APPROPRIATE PROFESSIONAL
Thu farm o avafeda Far . by au enure rml saute mug" II is 101 Nlardaa IP io"x.ly 0. urw a° a REALTORO REALTORO Is a maRlerad dens Wva mamnsrMlP m"k MNm may a wed only by
mambas d Itla NA71ONAI ASSOCIATION OF REALTORSO Mho abbaglaa b IN Cwe of EIMCs
Published and Disthbulad by:
REAL ESTATE BUSINESS SERVICES, INC. Ravlowod by
r asubsidiaryoffhe Celifamie Assedalbn o(REALTOR� Broker or Designee Ooto T°"IIaaIA
525 South Virgil Avenue, Los Angeles, California 90020 111"1x11,
REVISION DATE 4110
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA -CA PAGE 8 OF e) 1327 Olenbrook -
=110 Fidelity National Title Company
140 W. Branch Street, Arroyo Grande, CA 93420
805 474 -1800 • FAX 805 474 -0309
DATE: November 9, 2012
ESCROW NO.: 12- 400206905 -SS
LOCATE NO.: CAFNT0940- 0940- 0002 - 0400206905
ESCROW OFFICER: Stephanie Schaefer / Kim MacDonald
MASTER STATEMENT
SELLER: Kevin Ross and Heather D. Ross
BUYER: Laure A. James
PROPERTY: 1327 Glenbrook Way, Arroyo Grande, CA 93420
SELLER
$ DEBITS
1,191.00
358.60
3,000.00
$ CREDITS
FINANCIAL:
326,000.00 Total Consideration
Deposit - Laure A. James
Deposit - LAURE A JAMES
New 1st Trust Deed to Schools First Federal
Credit Union
PRORATIONS /ADJUSTMENTS:
498.90 Prepaid County Taxes at $1,726.95
Semi - Annual from 11/9/2012 to 1/1/2013
Owners Title Policy
Documentary Transfer Tax
Seller credit towards RCC & NRCC
TITLE CHARGES:
TIME: 12:35 PM
CLOSING DATE: November 9, 2012
This certifies that this is a true and
Exact copy of original document
FIDELITY NATIONAL TITLE
By 0 P_%
County Transfer Tax
23 -ALTA Homeowner's - 2010 for $326,000.00
14 -ALTA Loan Policy - 2006 for $286,000.00
ALTA Form 8.1 -06 - Envir. Prot. Lien $25.00
116 -06 - Designation of Improvements,
Address /ALTA - L
100 -06 - Restrictions, Encroachments &
Minerals /ALTA - L
Endorsement Fee(s)
Aggregate Recording Charge
ESCROW CHARGES:
465.00 Escrow Fee to Fidelity National Title
Loan Tie -in Fee
Overnight Delivery Fee
50.00 Draw Deed
E -Mail Doc Fee Email dots and copies
Doc Prep Fees to Fidelity National Title
Ihterspousal Deed
Document Signing Service to Michael A. Lund
(cissuntmstr)(03 -06)
BUYER
$ DEBITS
326,000.00
358.60
1,191.00
480.00
NEW LOAN CHARGES - Schools First Federal Credit Union
Total Loan Charges: $3,272.92
25.00
91.00
465.00
150.00
15.50
75.00
50.00
111W111141
Origination Fee to SchoolsFirst Federal
1,495.00
Credit Union
Refund of credit
Interest at $26.8125 per day fir 11/8/2012
616.69
to 12/1/2012 to SchoolsFirst Federal Credit
Union
Insurance for 3 months @ $36.67 per month
110.01
to SchoolsFirst Federal Credit Union
City Taxes for 5 months @ $339.58 per month
1,697.90
to SchoolsFirst Federal Credit Union
Aggregate Adjustment to SchoolsFirst
$ CREDITS
9,000.00
33,961.45
286,000.00
1,191.00
358.60
3,000.00
500.00
146.68
Date: November 9, 2012
Escrow No.: 12- 400206905 -SS
Locate No.: CAFNT0940- 0940- 0002 - 0400206905
Federal Credit Union
PAYOFFS - Wells Fargo Home Mortgage
Total Payoff $217,236.24
215,875.75 Principal Balance to Wells Fargo Home
Mortgage
1,313.49 Interest to 11/15/2012
30.00 Forwarding /Demand Fee to Wells Fargo Home
Mortgage
17.00 Recording Fee to Wells Fargo Home Mortgage
Page 2 of 2
$85,561.21
$326,498.90
(clsstmtmstr)
BALANCE
$326,498.90 TOTAL
$298.13
$334,157.73 $334,157.73
COMMISSIONS:
8,150.00
Selling Brokers Commission to Allan Real
Estate Investments 2.50%
8,150.00
Listing Brokers Commission to Century 21
Hometown Realty 2.50%
MISCELLANEOUS:
390.00
Fidelity National Home Warranty for Home
Protection Plan
89.00
Disclosure Source for Natural Hazard Report
130.90
Pestmaster Services for Pest Inspection
Black Ink for Notary Service 50.00
1,726.95
San Luis Obispo County Tax Collector for
1st 1/2 2012/2013 taxs 077 -255 -046
Hazard Premium to State Farm Insurance 440.00
$85,561.21
$326,498.90
(clsstmtmstr)
BALANCE
$326,498.90 TOTAL
$298.13
$334,157.73 $334,157.73