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CALIFORNIA AND JOINT ESCROW INSTRUCTIONS RESIDENTIAL PURCHASE AGREEMENT

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CALIFORNIA
RESIDENTIAL PURCHASE AGREEMENT
AND JOINT ESCROW INSTRUCTIONS
(C.A.R. Form RPA-CA, Revised 12/15 )
Date Prepared:
1. OFFER:
A. THIS IS AN OFFER FROM
(“Buyer”).
B. THE REAL PROPERTY to be acquired is
, situated in
(City), (County), California, (Zip Code), Assessor's Parcel No. (“Property”).
C. THE PURCHASE PRICE offered is
Dollars $ .
D. CLOSE OF ESCROW
shall occur on (date)(or
Days After Acceptance).
E.
Buyer and Seller are referred to herein as the “Parties.” Brokers are not Parties to this Agreement.
2. AGENCY:
A. DISCLOSURE: The Parties each acknowledge receipt of a
“Disclosure Regarding Real Estate Agency Relationships”
(C.A.R. Form AD).
B. CONFIRMATION: The following agency relationships are hereby confirmed for this transaction:
Listing Agent (Print Firm Name) is the agent of (check one):
the Seller exclusively; or both the Buyer and Seller.
Selling Agent (Print Firm Name) (if not the same as the
Listing Agent) is the agent of (check one): the Buyer exclusively; or the Seller exclusively; or both the Buyer and Seller.
C. POTENTIALLY COMPETING BUYERS AND SELLERS: The Parties each acknowledge receipt of a
“Possible
Representation of More than One Buyer or Seller - Disclosure and Consent” (C.A.R. Form PRBS).
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 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
(1)
Buyer Direct Deposit: Buyer shall deliver deposit directly to Escrow Holder by electronic funds
transfer, cashier's check, personal check, other within 3 business days
after Acceptance (or );
OR (2)
Buyer Deposit with Agent: Buyer has given the deposit by personal check (or )
to the agent submitting the offer (or to ), made payable to
. The deposit shall be held uncashed until Acceptance and then deposited
with Escrow Holder within 3 business days after Acceptance (or
).
Deposit checks given to agent shall be an original signed check and not a copy.
(Note: Initial and increased deposits checks received by agent shall be recorded in Broker's trust fund log.)
B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of . . . .
. . . . . $
within
Days After Acceptance (or
).
If the Parties agree to liquidated damages in this Agreement, they also agree to incorporate the increased
deposit into the liquidated damages amount in a separate liquidated damages clause (C.A.R. Form
RID) at the time the increased deposit is delivered to Escrow Holder.
C.
ALL CASH OFFER: No loan is needed to purchase the Property. This offer is NOT contingent on Buyer
obtaining a loan. Written verification of sufficient funds to close this transaction IS ATTACHED to this offer or
Buyer shall, within 3 (or ) Days After Acceptance, Deliver to Seller such verification.
D. LOAN(S):
(1) FIRST LOAN: in the amount of . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
This loan will be conventional financing or FHA, VA, Seller financing (C.A.R. Form SFA),
assumed financing (C.A.R. Form AFA), Other . This loan shall be at a 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 loan will be conventional financing or Seller financing (C.A.R. Form SFA), assumed
financing (C.A.R. Form AFA), Other . This loan shall be at a 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.
(3) FHA/VA: For any FHA or VA loan specified in 3D(1), Buyer has 17 (or ) Days After Acceptance
to Deliver to Seller written notice (C.A.R. Form FVA) of any lender-required repairs or costs that
Buyer requests Seller to pay for or otherwise correct. Seller has no obligation to pay or satisfy lender
requirements unless agreed in writing. A FHA/VA amendatory clause (C.A.R. Form FVAC) shall be a
part of this Agreement.
E. ADDITIONAL FINANCING TERMS:
F. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
to be deposited with Escrow Holder pursuant to Escrow Holder instructions.
G. PURCHASE PRICE (TOTAL):
. . . . . .
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
$
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
© 1991-2015, California Association of REALTORS®, Inc.
RPA-CA REVISED 12/15 (PAGE 1 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 1 OF 10)
Phone: Fax:
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
Property Address: Date:
H. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to paragraph
3J(1)) shall, within 3 (or ) Days After Acceptance, Deliver to Seller written verification of Buyer's down payment and
closing costs. ( Verification attached.)
I. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (or
is NOT) contingent upon a written appraisal of the
Property by a licensed or certified appraiser at no less than the purchase price. 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. LOAN TERMS:
(1) LOAN APPLICATIONS: Within 3 (or ) Days After Acceptance, Buyer shall Deliver to Seller a letter from Buyer's lender or
loan broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved
for any NEW loan specified in paragraph 3D. If any loan specified in paragraph 3D is an adjustable rate loan, the prequalification
or preapproval letter shall be based on the qualifying rate, not the initial loan rate. ( Letter attached.)
(2) LOAN CONTINGENCY: Buyer shall act diligently and in good faith to obtain the designated loan(s). Buyer's qualification
for the loan(s) specified above is a contingency of this Agreement unless otherwise agreed in writing. If there is no appraisal
contingency or the appraisal contingency has been waived or removed, then failure of the Property to appraise at the purchase
price does not entitle Buyer to exercise the cancellation right pursuant to the loan contingency if Buyer is otherwise qualified
for the specified loan. Buyer's contractual obligations regarding deposit, balance of down payment and closing costs are not
contingencies of this Agreement.
(3) LOAN CONTINGENCY REMOVAL:
Within 21 (or ) Days After Acceptance, Buyer shall, as specified in paragraph 14, in writing, remove the loan contingency or
cancel this Agreement. If there is an appraisal contingency, removal of the loan contingency shall not be deemed removal of the
appraisal contingency.
(4) NO LOAN CONTINGENCY: Obtaining any loan specified above is NOT a contingency of this Agreement. If Buyer does not
obtain the loan and as a result does not purchase the Property, Seller may be entitled to Buyer's deposit or other legal remedies.
(5) LENDER LIMITS ON BUYER CREDITS: Any credit to Buyer, from any source, for closing or other costs that is agreed to
by the Parties (“Contractual Credit”) shall be disclosed to Buyer's lender. If the total credit allowed by Buyer's lender (“Lender
Allowable Credit”) is less than the Contractual Credit, then (i) the Contractual Credit shall be reduced to the Lender Allowable
Credit, and (ii) in the absence of a separate written agreement between the Parties, there shall be no automatic adjustment to
the purchase price to make up for the difference between the Contractual Credit and the Lender Allowable Credit.
K. BUYER STATED FINANCING: Seller is relying on Buyer's representation of the type of financing specified (including but not
limited to, as applicable, all cash, amount of down payment, or contingent or non-contingent loan). Seller has agreed to a specific
closing date, purchase price and to sell to Buyer in reliance on Buyer's covenant concerning financing. Buyer shall pursue the
financing specified in this Agreement. Seller has no obligation to
cooperate wi
th Buyer's efforts to obtain any financing other than
that specified in the Agreement and the availability of any such alternate financing does not excuse Buyer from the obligation to
purchase the Property and close escrow as specified in this Agreement.
4. SALE OF BUYER'S PROPERTY:
A.
This Agreement and Buyer's ability to obtain financing are NOT contingent upon the sale of any property owned by Buyer.
OR B.
This Agreement and Buyer's ability to obtain financing are contingent upon the sale of property owned by Buyer as specified
in the attached addendum (C.A.R. Form COP).
5. ADDENDA AND ADVISORIES:
A. ADDENDA: Addendum # (C.A.R. Form ADM)
Back Up Offer Addendum (C.A.R. Form BUO) Court Confirmation Addendum (C.A.R. Form CCA)
Septic, Well and Property Monument Addendum (C.A.R. Form SWPI)
Short Sale Addendum (C.A.R. Form SSA) Other
B. BUYER AND SELLER ADVISORIES:
Buyer's Inspection Advisory (C.A.R. Form BIA)
Probate Advisory (C.A.R. Form PA) Statewide Buyer and Seller Advisory (C.A.R. Form SBSA)
Trust Advisory (C.A.R. Form TA) REO Advisory (C.A.R. Form REO)
Short Sale Information and Advisory (C.A.R. Form SSIA) Other
6. OTHER TERMS:
7. ALLOCATION OF COSTS
A. INSPECTIONS, REPORTS AND CERTIFICATES: Unless otherwise agreed in writing, this paragraph only determines who
is to pay for the inspection, test, certificate or service (“Report”) mentioned; it does not determine who is to pay for any work
recommended or identified in the Report.
(1)
Buyer Seller shall pay for a natural hazard zone disclosure report, including tax environmental Other:
prepared by .
(2)
Buyer Seller shall pay for the following Report
prepared by .
(3)
Buyer Seller shall pay for the following Report
prepared by .
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 2 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 2 OF 10)
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
Property Address: Date:
B. GOVERNMENT REQUIREMENTS AND RETROFIT:
(1)
Buyer Seller shall pay for smoke alarm and carbon monoxide device installation and water heater bracing, if required by
Law. Prior to Close Of Escrow (“COE”), Seller shall provide Buyer written statement(s) of compliance in accordance with state
and local Law, unless Seller is exempt.
(2) (i)
Buyer Seller shall pay the cost of compliance with any other minimum mandatory government inspections and reports
if required as a condition of closing escrow under any Law.
(ii) Buyer Seller shall pay the cost of compliance with any other minimum mandatory government retrofit standards
required as a condition of closing escrow under any Law, whether the work is required to be completed before or after COE.
(iii) Buyer shall be provided, within the time specified in paragraph 14A, a copy of any required government conducted or
point-of-sale inspection report prepared pursuant to this Agreement or in anticipation of this sale of the Property.
C. ESCROW AND TITLE:
(1)
(a) Buyer Seller shall pay escrow fee .
(b) Escrow Holder shall be .
(c)
The Parties shall, within 5 (or ) Days After receipt, sign and return Escrow Holder's general provisions.
(2)
(a) Buyer
Seller shall pay for owner's title insurance policy specified in paragraph 13E
.
(b) Owner's title policy to be issued by .
(Buyer shall pay for any title insurance policy insuring Buyer's lender, unless otherwise agreed in writing.)
D. OTHER COSTS:
(1) Buyer
Seller shall pay County transfer tax or fee .
(2) Buyer
Seller shall pay City transfer tax or fee .
(3) Buyer
Seller shall pay Homeowners' Association (“HOA”) transfer fee .
(4)
Seller shall pay HOA fees for preparing documents required to be delivered by Civil Code §4525.
(5) Buyer
Seller shall pay HOA fees for preparing all documents other than those required by Civil Code §4525.
(6)
Buyer to pay for any HOA certification fee.
(7) Buyer
Seller shall pay for any private transfer fee .
(8) Buyer
Seller shall pay for .
(9)
Buyer Seller shall pay for .
(10)
Buyer Seller shall pay for the cost, not to exceed $ , of a standard (or upgraded)
one-year home warranty plan, issued by , with the
following optional coverages: Air Conditioner Pool/Spa Other: .
Buyer is informed that home warranty plans have many optional coverages in addition to those listed above. Buyer is advised
to investigate these coverages to determine those that may be suitable for Buyer.
OR
Buyer waives the purchase of a home warranty plan. Nothing in this paragraph precludes Buyer's purchasing
a home warranty plan during the term of this Agreement.
8. ITEMS INCLUDED IN AND EXCLUDED FROM SALE:
A. NOTE TO BUYER AND SELLER: Items listed as included or excluded in the MLS, flyers or marketing materials are not
included in the purchase price or excluded from the sale unless specified in paragraph 8 B or C.
B. ITEMS INCLUDED IN SALE: Except as otherwise specified or disclosed,
(1)
All EXISTING fixtures and fittings that are attached to the Property;
(2)
EXISTING electrical, mechanical, lighting, plumbing and heating fixtures, ceiling fans, fireplace inserts, gas logs and grates,
solar power systems, built-in appliances, window and door screens, awnings, shutters, window coverings, attached floor
coverings, television antennas, satellite dishes, air coolers/conditioners, pool/spa equipment, garage door openers/remote
controls, mailbox, in-ground landscaping, trees/shrubs, water features and fountains, water softeners, water purifiers, security
systems/alarms and the following if checked: all stove(s), except ; all refrigerator(s)
except ; all washer(s) and dryer(s), except ;
(3)
The following additional items: .
(4)
Existing integrated phone and home automation systems, including necessary components such as intranet and Internet-
connected hardware or devices, control units (other than non-dedicated mobile devices, electronics and computers) and
applicable software, permissions, passwords, codes and access information, are ( are NOT) included in the sale.
(5) LEASED OR LIENED ITEMS AND SYSTEMS: Seller shall, within the time specified in paragraph 14A, (i) disclose to Buyer
if any item or system specified in paragraph 8B or otherwise included in the sale is leased, or not owned by Seller, or
specifically subject to a lien or other encumbrance, and (ii) Deliver to Buyer all written materials (such as lease, warranty,
etc.) concerning any such item. Buyer's ability to assume any such lease, or willingness to accept the Property subject to
any such lien or encumbrance, is a contingency in favor of Buyer and Seller as specified in paragraph 14B and C.
(6)
Seller represents that all items included in the purchase price, unless otherwise specified, (i) are owned by Seller and shall
be transferred free and clear of liens and encumbrances, except the items and systems identified pursuant to 8B(5) and
, and (ii) are transferred without Seller warranty regardless of value.
C. ITEMS EXCLUDED FROM SALE: Unless otherwise specified, the following items are excluded from sale: (i) audio and video
components (such as flat screen TVs, speakers and other items) if any such item is not itself attached to the Property, even if a
bracket or other mechanism attached to the component or item is attached to the Property; (ii) furniture and other items secured
to the Property for earthquake purposes; and (iii)
. Brackets attached to walls, floors or ceilings for any such component, furniture
or item shall remain with the Property (or will be removed and holes or other damage shall be repaired, but not painted).
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 3 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 3 OF 10)
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
Property Address: Date:
9. CLOSING AND POSSESSION:
A.
Buyer intends (or does not intend) to occupy the Property as Buyer's primary residence.
B. Seller-occupied or vacant property: Possession shall be delivered to Buyer: (i) at 6 PM or (
AM/ PM) on the date of Close
Of Escrow; (ii) no later than calendar days after Close Of Escrow; or (iii) at AM/ PM on .
C. Seller remaining in possession After Close Of Escrow: If Seller has the right to remain in possession after Close Of Escrow, (i) the
Parties are advised to sign a separate occupancy agreement such as C.A.R. Form SIP, for Seller continued occupancy of less than 30
days, C.A.R. Form RLAS for Seller continued occupancy of 30 days or more; and (ii) the Parties are advised to consult with their
insurance and legal advisors for information about liability and damage or injury to persons and personal and real property; and (iii)
Buyer is advised to consult with Buyer's lender about the impact of Seller's occupancy on Buyer's loan.
D. Tenant-occupied property: Property shall be vacant at least 5 (or ) Days Prior to Close Of Escrow, unless otherwise agreed in
writing. Note to Seller: If you are unable to deliver Property vacant in accordance with rent control and other applicable Law,
you may be in breach of this Agreement.
OR Tenant to remain in possession (C.A.R. Form TIP).
E.
At Close Of Escrow: Seller assigns to Buyer any assignable warranty rights for items included in the sale; and Seller shall Deliver to Buyer
available Copies of any such warranties. Brokers cannot and will not determine the assignability of any warranties.
F.
At Close Of Escrow, unless otherwise agreed in writing, Seller shall provide keys, passwords, codes and/or means to operate all locks,
mailboxes, security systems, alarms, home automation systems and intranet and Internet-connected devices included in the purchase
price, and garage door openers. If the Property is a condominium or located in a common interest subdivision, Buyer may be required
to pay a deposit to the Homeowners' Association (“HOA”) to obtain keys to accessible HOA facilities.
10. STATUTORY
AND OTHER DISCLOSURES (INCLUDING LEAD-BASED PAINT HAZARD DISCLOSURES) AND CANCELLATION RIGHTS:
A. (1)
Seller shall, within the time specified in paragraph 14A, Deliver to Buyer: (i) if required by Law, a fully completed: Federal Lead-
Based Paint Disclosures (C.A.R. Form FLD) and pamphlet (“Lead Disclosures”); and (ii) unless exempt, fully completed
disclosures or
notices required by sections 1102 et. 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 (“TDS”), Natural Hazard Disclosure Statement (“NHD”), notice or
actual knowledge of release of illegal controlled substance, notice of special tax and/or assessments (or, if allowed, substantially
equivalent notice regarding the Mello-Roos Community Facilities Act of 1982 and Improvement Bond Act of 1915) and, if Seller has
actual knowledge, of industrial use and military ordnance location (C.A.R. Form SPQ or ESD).
(2)
Any Statutory Disclosure required by this paragraph is considered fully completed if Seller has answered all questions and completed
and signed the Seller section(s) and the Listing Agent, if any, has completed and signed the Listing Broker section(s), or, if applicable,
an Agent Visual Inspection Disclosure (C.A.R. Form AVID). Nothing stated herein relieves a Buyer's Broker, if any, from the obligation
to (i) conduct a reasonably competent and diligent visual inspection of the accessible areas of the Property and disclose, on Section IV
of the TDS, or an AVID, material facts affecting the value or desirability of the Property that were or should have been revealed by such
an inspection or (ii) complete any sections on all disclosures required to be completed by Buyer's Broker.
(3) Note to Buyer and Seller: Waiver of Statutory and Lead Disclosures is prohibited by Law.
(4) Within the time specified in paragraph 14A, (i) Seller, unless exempt from the obligation to provide a TDS, shall, complete and
provide Buyer with a Seller Property Questionnaire (C.A.R. Form SPQ); (ii) if Seller is not required to provide a TDS, Seller shall
complete and provide Buyer with an Exempt Seller Disclosure (C.A.R. Form ESD).
(5)
Buyer shall, within the time specified in paragraph 14B(1), return Signed Copies of the Statutory, Lead and other disclosures to Seller.
(6)
In the event Seller or Listing Broker, prior to Close Of Escrow, becomes aware of adverse conditions materially affecting the
Property, or any material inaccuracy in disclosures, information or representations previously provided to Buyer, Seller shall
promptly provide a subsequent or amended disclosure or notice, in writing, covering those items. However, a subsequent or
amended disclosure shall not be required for conditions and material inaccuracies of which Buyer is otherwise aware, or
which are disclosed in reports provided to or obtained by Buyer or ordered and paid for by Buyer.
(7)
If any disclosure or notice specified in paragraph 10A(1), or subsequent or amended disclosure or notice is Delivered to Buyer after
the offer is Signed, Buyer shall have the right to cancel this Agreement within 3 Days After Delivery in person, or 5 Days After
Delivery by deposit in the mail, by giving written notice of cancellation to Seller or Seller's agent.
B. NATURAL AND ENVIRONMENTAL HAZARD DISCLOSURES AND OTHER BOOKLETS: Within the time specified in paragraph 14A,
Seller shall, if required by Law: (i) Deliver to Buyer earthquake guide(s) (and questionnaire), environmental hazards booklet, and home
energy rating pamphlet; (ii) disclose if the Property is located in a Special Flood Hazard Area; Potential Flooding (Inundation) Area;
Very High Fire Hazard Zone; State Fire Responsibility Area; Earthquake Fault Zone; and Seismic Hazard Zone; and (iii) 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, Seller 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 QS).
D. MEGAN'S LAW DATABASE DISCLOSURE: Notice: Pursuant to Section 290.46 of the Penal Code, information about specified
registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at
www.meganslaw.ca.gov. Depending on an offender's criminal history, this information will include either the address at which the
offender resides or the community of residence and ZIP Code in which he or she resides. (Neither Seller nor Brokers are required t
o
check this
website. If Buyer wants further information, Broker recommends that Buyer obtain information from this website during
Buyer's inspection contingency period. Brokers do not have expertise in this area.)
E. NOTICE REGARDING GAS AND HAZARDOUS LIQUID TRANSMISSION PIPELINES: This notice is being provided simply to inform
you that information about the general location of gas and hazardous liquid transmission pipelines is available to the public via the
National Pipeline Mapping System (NPMS) Internet Web site maintained by the United States Department of Transportation at
http://www.npms.phmsa.dot.gov/. To seek further information about possible transmission pipelines near the Property, you may
contact your local gas utility or other pipeline operators in the area. Contact information for pipeline operators is searchable by ZIP
Code and county on the NPMS Internet Web site.
F. CONDOMINIUM/PLANNED DEVELOPMENT DISCLOSURES:
(1) SELLER HAS: 7 (or ) Days After Acceptance to disclose to Buyer if the Property is a condominium, or is located in a
planned development or other common interest subdivision (C.A.R. Form SPQ or ESD).
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 4 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 4 OF 10)
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
Property Address: Date:
(2)
If the Property is a condominium or is located in a planned development or other common interest subdivision, Seller has
3 (or ) Days After Acceptance to request from the HOA (C.A.R. Form HOA1): (i) Copies of any documents required by Law;
(ii) disclosure of any pending or anticipated claim or litigation by or against the HOA; (iii) a statement containing the location and
number of designated parking and storage spaces; (iv) Copies of the most recent 12 months of HOA minutes for regular and special
meetings; and (v) the names and contact information of all HOAs governing the Property (collectively, “CI Disclosures”). (vi) private
transfer fees; (vii) Pet fee restrictions; and (viii) smoking restrictions. Seller shall itemize and Deliver to Buyer all CI Disclosures
received from the HOA and any CI Disclosures in Seller's possession. Buyer's approval of CI Disclosures is a contingency of this
Agreement as specified in paragraph 14B(3). The Party specified in paragraph 7, as directed by escrow, shall deposit funds into escrow
or direct to HOA or management company to pay for any of the above.
11. CONDITION OF PROPERTY: Unless otherwise agreed in writing: (i) the Property is sold (a) “AS-IS” in its PRESENT
physical condition as of the date of Acceptance and (b) subject to Buyer's Investigation rights; (ii) the Property, including pool, spa,
landscaping and grounds, is to be maintained in substantially the same condition as on the date of Acceptance; and (iii) all debris
and personal property not included in the sale shall be removed by Close Of Escrow.
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 past five years, and make any and all other disclosures required by law.
B.
Buyer has the right to conduct Buyer Investigations of the Property and, as specified in paragraph 14B, based upon information
discovered in those investigations: (i) cancel this Agreement; or (ii) request that Seller make Repairs or take other action.
C. Buyer is strongly advised to conduct investigations of the entire 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 important. Property
improvements may not be built according to code, in compliance with current Law, or have had permits issued.
12. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY:
A.
Buyer's acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified in
this paragraph and paragraph 14B. Within the time specified in paragraph 14B(1), Buyer shall have the right, at Buyer's expense unless
otherwise agreed, to conduct inspections, investigations, tests, surveys and other studies (“Buyer Investigations”), including, but not
limited to: (i) a general physical inspection; (ii) an inspection specifically for wood destroying pests and organisms. Any inspection for
wood destroying pests and organisms shall be prepared by a registered Structural Pest Control company; shall cover the main building
and attached structures; may cover detached structures; shall NOT include water tests of shower pans on upper level units unless the
owners of property below the shower consent; shall NOT include roof coverings; and, if the Property is a unit in a condominium or other
common interest subdivision, the inspection shall include only the separate interest and any exclusive-use areas being transferred, and
shall NOT include common areas; and shall include a report (“Pest Control Report”) showing the findings of the company which shall be
separated into sections for evident infestation or infections (Section 1) and for conditions likely to lead to infestation or infection (Section
2); (iii) inspect for lead-based paint and other lead-based paint hazards; (iv) satisfy Buyer as to any matter specified in the attached
Buyer's Inspection Advisory (C.A.R. Form BIA); (v) review the registered sex offender database; (vi) confirm the insurability of Buyer
and the Property including the availability and cost of flood and fire insurance; and (vii) review and seek approval of leases that may
need to be assumed by Buyer. Without Seller's prior written consent, Buyer shall neither make nor cause to be made: invasive or
destructive Buyer Investigations, except for minimally invasive testing required to prepare a Pest Control Report; or inspections by any
governmental building or zoning inspector or 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 such 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 Buyer's Investigations and through the date possession
is made available to Buyer.
D. Buyer indemnity and seller protection for entry upon property: Buyer shall: (i) keep the Property free and clear of liens; (ii) repair
all damage arising from Buyer Investigations; and (iii) indemnify and hold Seller harmless from all resulting liability,
claims, demands,
damages and costs. Buyer shall carry, or Buyer shall require anyone acting on Buyer's behalf to carry, policies of liability, workers'
compensation and other applicable insurance, defending and protecting Seller from liability for any injuries to persons or property occurring
during any Buyer Investigations or work done on the Property at Buyer's direction prior to Close Of Escrow. Seller is advised that certain
protections may be afforded Seller by recording a “Notice of Non-Responsibility” (C.A.R. Form NNR) for Buyer Investigations and work
done on the Property at Buyer's direction. Buyer's obligations under this paragraph shall survive the termination of this Agreement.
13. TITLE AND VESTING:
A.
Within the time specified in paragraph 14, Buyer shall be provided a current preliminary title report (“Preliminary Report”). The Preliminary
Report is only an offer by the title insurer to issue a policy of title insurance and may not contain every item affecting title. Buyer's review of
the Preliminary Report and any other matters which may affect title are a contingency of this Agreement as specified in paragraph 14B. The
company providing the Preliminary Report shall, prior to issuing a Preliminary Report, conduct a search of the General Index for all Sellers
except banks or other institutional lenders selling properties they acquired through foreclosure (REOs), corporations, and government
entities. Seller shall within 7 Days After Acceptance, give Escrow Holder a completed Statement of Information.
B.
Title is taken in its present condition subject to all encumbrances, easements, covenants, conditions, restrictions, rights and other
matters, whether of record or not, as of the date of Acceptance except for: (i) monetary liens of record (which Seller is obligated to pay
off) unless Buyer is assuming those obligations or taking the Property subject to those obligations; and (ii) those matters which Seller
has agreed to remove in writing.
C.
Within the time specified in paragraph 14A, Seller has a duty to disclose to Buyer all matters known to Seller affecting title,
whether of record or not.
D.
At Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for stock cooperative or long-term lease, an assignment
of stock certificate or of Seller's leasehold interest), including oil, mineral and water rights if currently owned by Seller. Title shall
vest as designated in Buyer's supplemental escrow instructions. THE MANNER OF TAKING TITLE MAY HAVE SIGNIFICANT
LEGAL AND TAX CONSEQUENCES. CONSULT AN APPROPRIATE PROFESSIONAL.
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 5 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 5 OF 10)
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E.
Buyer
shall receive a CLTA/ALTA “Homeowner's Policy of Title Insurance”, if applicable to the type of property and buyer. If not, Escrow Holder
shall
notify Buyer. A title company can provide information about the availability, coverage, and cost of other title policies and endorsements. If
the
Homeowner's Policy is not available, Buyer shall choose another policy, instruct Escrow Holder in writing and shall pay any increase in cost.
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 Seller 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 all Reports, disclosures and information for which Seller is
responsible under paragraphs 5, 6, 7, 8B(5), 10A, B, C, and F, 11A and 13A. If, by the time specified, Seller has not Delivered any
such item, Buyer after first Delivering to Seller a Notice to Seller to Perform (C.A.R. Form NSP) may cancel this Agreement.
B. (1) BUYER HAS: 17 (or ) Days After Acceptance, unless otherwise agreed in writing, to: (i) complete all Buyer Investigations;
review all disclosures, reports, lease documents to be assumed by Buyer pursuant to paragraph 8B(5), and other applicable
information, which Buyer receives from Seller; and approve all matters affecting the
Property; and (ii) Deliver to Seller Signed Copies
of Statutory and Lead Disclosures and other disclosures Delivered by Seller in accordance with paragraph 10A.
(2)
Within the time specified in paragraph 14B(1), Buyer may request that Seller make repairs or take any other action regarding the
Property (C.A.R. Form RR). Seller has no obligation to agree to or respond to (C.A.R. Form RRRR) Buyer's requests.
(3)
By the end of the time specified in paragraph 14B(1) (or as otherwise specified in this Agreement), Buyer shall Deliver to Seller a
removal of the applicable contingency or cancellation (C.A.R. Form CR or CC) of this Agreement. However, if any report, disclosure
or information for which Seller is responsible is not Delivered within the time specified in paragraph 14A, then Buyer has 5 (or )
Days After Delivery of any such items, or the time specified in paragraph 14B(1), whichever is later, to Deliver to Seller a removal of
the applicable contingency or cancellation of this Agreement.
(4) Continuation of Contingency: Even after the end of the time specified in paragraph 14B(1) and before Seller cancels, if at
all,
pursuant to paragraph 14D, Buyer retains the right, in writing, to either (i) remove remaining contingencies, or (ii) cancel this Agreement
based on a remaining contingency. Once Buyer's written removal of all contingencies is Delivered to Seller, Seller may not cancel this
Agreement pursuant to paragraph 14D(1).
(5) Access to Property: Buyer shall have access to the Property to conduct inspections and investigations for 17 (or ) Days After
Acceptance, whether or not any part of the Buyer's Investigation Contingency has been waived or removed.
C. REMOVAL OF CONTINGENCIES WITH OFFER: Buyer removes the contingencies specified in the attached Contingency
Removal form (C.A.R. Form CR). If Buyer removes any contingency without an adequate understanding of the Property's
condition or Buyer's ability to purchase, Buyer is acting against the advice of Broker.
D. SELLER RIGHT TO CANCEL:
(1) Seller right to Cancel; Buyer Contingencies: If, by the time specified in this Agreement, Buyer does not Deliver to Seller a
removal of the applicable contingency or cancellation of this Agreement, then 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 shall authorize the return of Buyer's deposit, except for
fees incurred by Buyer.
(2) Seller right to Cancel; Buyer Contract Obligations: Seller, after first delivering to Buyer a NBP, may cancel this Agreement if, by
the time specified in this Agreement, Buyer does not take the following action(s): (i) Deposit funds as required by paragraph 3A, or
3B or if the funds deposited pursuant to paragraph 3A or 3B are not good when deposited; (ii) Deliver a notice of FHA or VA costs
or terms as required by paragraph 3D(3) (C.A.R. Form FVA); (iii) Deliver a letter as required by paragraph 3J(1); (iv) Deliver
verification, or a satisfactory verification if Seller reasonably disapproves of the verification already provided, as required by
paragraph 3C or 3H; (v) In writing assume or accept leases or liens specified in 8B5; (vi) Return Statutory and Lead Disclosures as
required by paragraph 10A(5); or (vii) Sign or initial a separate liquidated damages form for an increased deposit as required by
paragraphs 3B and 21B; or (viii) Provide evidence of authority to sign in a representative capacity as specified in paragraph 19. In
such event, Seller shall authorize the return of Buyer's deposit, except for fees incurred by Buyer.
E. NOTICE TO BUYER OR SELLER TO PERFORM: The NBP or NSP shall: (i) be in writing; (ii) be signed by the applicable Buyer or
Seller; and (iii) give the other Party at least 2 (or ) Days After Delivery (or until the time specified in the applicable
paragraph,
whichever occurs last) to take the applicable action. A NBP or NSP may not be Delivered any earlier than 2 Days Prior
to the expiration of
the applicable time for the other Party to remove a contingency or cancel this Agreement or meet an obligation specified in paragraph 14.
F. EFFECT OF BUYER'S REMOVAL OF CONTINGENCIES: If Buyer removes, in writing, any contingency or cancellation rights, unless
otherwise specified in writing, Buyer shall conclusively be deemed to have: (i) completed all Buyer Investigations, and
review of reports
and other applicable information and disclosures pertaining to that contingency or cancellation right; (ii) elected
to proceed with the
transaction; and (iii) assumed all liability, responsibility and expense for Repairs or corrections pertaining to that contingency or
cancellation right, or for the inability to obtain financing.
G. CLOSE OF ESCROW: Before Buyer or Seller may cancel this Agreement for failure of the other Party to close escrow pursuant to this
Agreement, Buyer or Seller must first Deliver to the other Party a demand to close escrow (C.A.R. Form DCE). The DCE shall: (i) be
signed by the applicable Buyer or Seller; and (ii) give the other Party at least 3 (or ) Days After Delivery to close escrow. A DCE
may not be Delivered any earlier than 3 Days Prior to the scheduled close of escrow.
H. EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation pursuant to rights duly exercised
under the terms of this Agreement, the Parties agree to Sign mutual instructions to cancel the sale and escrow and release deposits, if
any, to the party entitled to the funds, less fees and costs incurred by that party. Fees and costs may be payable to service providers
and vendors for services and products provided during escrow. Except as specified below, release of funds will require mutual
Signed release instructions from the Parties, judicial decision or arbitration award. If either Party fails to execute mutual
instructions to cancel escrow, one Party may make a written demand to Escrow Holder for the deposit. (C.A.R. Form BDRD or SDRD).
Escrow Holder, upon receipt, shall promptly deliver notice of the demand to the other Party. If, within 10 Days After Escrow Holder's
notice, the other Party does not object to the demand, Escrow Holder shall disburse the deposit to the Party making the demand. If
Escrow Holder complies with the preceding process, each Party shall be deemed to have released Escrow Holder from any and all
claims or liability related to the disbursal of the deposit. Escrow Holder, at its discretion, may nonetheless require mutual cancellation
instructions. A Party may be subject to a civil penalty of up to $1,000 for refusal to sign cancellation instructions if no good
faith dispute exists as to who is entitled to the deposited funds (Civil Code §1057.3).
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 6 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 6 OF 10)
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15. FINAL VERIFICATION OF CONDITION: Buyer shall have the right to make a final verification of the Property within 5 (or
) Days
Prior to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confirm: (i) the Property is maintained pursuant to paragraph 11;
(ii) Repairs have been completed as agreed; and (iii) Seller has complied with Seller's other obligations under this Agreement (C.A.R. Form VP).
16. REPAIRS: Repairs shall be completed prior to final verification of condition unless otherwise agreed in writing. Repairs to be performed at
Seller's expense may be performed by Seller or through others, provided that the work complies with applicable Law, including
governmental permit, inspection and approval requirements. Repairs shall be performed in a good, skillful manner with materials of quality
and appearance comparable to existing materials. It is understood that exact restoration of appearance or cosmetic items following all
Repairs may not be possible. Seller shall: (i) obtain invoices and paid receipts for Repairs performed by others; (ii) prepare a written
statement indicating the Repairs performed by Seller and the date of such Repairs; and (iii) provide Copies of invoices and paid receipts
and statements to Buyer prior to final verification of condition.
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 Escrow: real property taxes and assessments, interest, rents, HOA regular, special, and
emergency dues and assessments imposed prior to Close Of Escrow, premiums on insurance assumed by Buyer, payments on bonds and
assessments assumed by Buyer, and payments on Mello-Roos and other Special Assessment District bonds and assessments that are now a
lien. The following items shall be assumed by Buyer WITHOUT CREDIT toward the purchase price: prorated payments on Mello-Roos and
other Special Assessment District bonds and assessments and HOA special assessments that are now a lien but not yet due. Property will be
reassessed upon change of ownership. Any supplemental tax bills shall be paid as follows: (i) for periods after Close Of Escrow, by Buyer; and
(ii) for periods prior to Close Of Escrow, by Seller (see C.A.R. Form SPT or SBSA for further information). 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.
18. BROKERS:
A. COMPENSATION: Seller or Buyer, or both, as applicable, agree 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 if escrow does not close, as
otherwise specified in the agreement between Broker and that Seller or Buyer.
B. SCOPE OF DUTY: Buyer and Seller acknowledge and agree that Broker: (i) Does not decide what price Buyer should pay or Seller
should accept; (ii) Does not guarantee the condition of the Property; (iii) Does not guarantee the performance, adequacy or
completeness of inspections, services, products or repairs provided or made by Seller or others; (iv) Does not have an obligation
to conduct an inspection of common areas or areas off the site of the Property; (v) Shall not be responsible for identifying defects
on the Property, in common areas, or offsite unless such defects are visually observable by an inspection of reasonably accessible
areas of the Property or are known to Broker; (vi) Shall not be responsible for inspecting public records or permits concerning the
title or use of Property; (vii) Shall not be responsible for identifying the location of boundary lines or other items affecting title; (viii)
Shall not be responsible for verifying square footage, representations of others or information contained in Investigation reports,
Multiple Listing Service, advertisements, flyers or other promotional material; (ix) Shall not be responsible for determining the fair
market value of the Property or any personal property included in the sale; (x) Shall not be responsible for providing legal or tax
advice regarding any aspect of a transaction entered into by Buyer or Seller; and (xi) Shall not be responsible for providing
other advice or information that exceeds the knowledge, education and experience required to perform real estate licensed
activity. Buyer and Seller agree to seek legal, tax, insurance, title and other desired assistance from appropriate professionals.
19. REPRESENTATIVE CAPACITY: If one or more Parties is signing this Agreement in a representative capacity and not for him/herself
as an individual then that Party shall so indicate in paragraph 31 or 32 and attach a Representative Capacity Signature Disclosure
(C.A.R. Form RCSD). Wherever the signature or initials of the representative identified in the RCSD appear on this Agreement
or any related documents, it shall be deemed to be in a representative capacity for the entity described and not in an individual
capacity, unless otherwise indicated. The Party acting in a representative capacity (i) represents that the entity for which that party is acting
already exists and (ii) shall Deliver to the other Party and Escrow Holder, within 3 Days After Acceptance, evidence of authority to act in
that capacity (such as but not limited to: applicable portion of the trust or Certification Of Trust (Probate Code §18100.5), letters
testamentary, court order, power of attorney, corporate resolution, or formation documents of the business entity).
20. JOINT ESCROW INSTRUCTIONS TO ESCROW HOLDER:
A. The following paragraphs, or applicable portions thereof, of this Agreement constitute the joint escrow instructions
of Buyer and Seller to Escrow Holder, which Escrow Holder is to use along with any related counter offers and addenda,
and any additional mutual instructions to close the escrow: paragraphs 1, 3, 4B, 5A, 6, 7, 10C, 13, 14G, 17, 18A, 19, 20, 26,
29, 30, 31, 32 and paragraph D of the section titled Real Estate Brokers on page 10. If a Copy of the separate compensation
agreement(s) provided for in paragraph 18A, or paragraph D of the section titled Real Estate Brokers on page 10 is deposited
with Escrow Holder by Broker, Escrow Holder shall accept such agreement(s) and pay out from Buyer's or Seller's funds, or
both, as applicable, the Broker's compensation provided for in such agreement(s). The terms and conditions of this Agreement
not set forth in the specified paragraphs are additional matters for the information of Escrow Holder, but about which Escrow
Holder need not be concerned. Buyer and Seller will receive Escrow Holder's general provisions, if any, directly from Escrow
Holder and will execute such provisions within the time specified in paragraph 7C(1)(c). To the extent the general provisions are
inconsistent or conflict with this Agreement, the general provisions will control as to the duties and obligations of Escrow Holder
only. Buyer and Seller will execute additional instructions, documents and forms provided by Escrow Holder that are reasonably
necessary
to close
the escrow and, as directed by Escrow Holder, within 3 (or ) Days, shall pay to Escrow Holder or HOA or
HOA management company or others any fee required by paragraphs 7, 10 or elsewhere in this Agreement.
B. A Copy of this Agreement including any counter offer(s) and addenda shall be delivered to Escrow Holder within 3 Days After
Acceptance (or ). Buyer and Seller authorize Escrow
Holder to accept and rely on Copies and Signatures as defined in this Agreement as originals, to open escrow and for other
purposes of escrow. The validity of this Agreement as between Buyer and Seller is not affected by whether or when Escrow
Holder Signs this Agreement. Escrow Holder shall provide Seller's Statement of Information to Title company when received
from Seller. If Seller delivers an affidavit to Escrow Holder to satisfy Seller's FIRPTA obligation under paragraph 10C, Escrow
Holder shall deliver to Buyer a Qualified Substitute statement that complies with federal Law.
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 7 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 7 OF 10)
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Property Address: Date:
C.
Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraph 18A and paragraph D of the
section titled Real Estate Brokers on page 10. Buyer and Seller irrevocably assign to Brokers compensation specified in
paragraph 18A, and irrevocably instruct Escrow Holder to disburse those funds to Brokers at Close Of Escrow or pursuant to any
other mutually executed cancellation agreement. Compensation instructions can be amended or revoked only with the written
consent of Brokers. Buyer and Seller shall release and hold harmless Escrow Holder from any liability resulting from Escrow
Holder's payment to Broker(s) of compensation pursuant to this Agreement.
D.
Upon receipt, Escrow Holder shall provide Seller and Seller's Broker verification of Buyer's deposit of funds pursuant to
paragraph 3A and 3B. Once Escrow Holder becomes aware of any of the following, Escrow Holder shall immediately notify all
Brokers: (i) if Buyer's initial or any additional deposit or down payment is not made pursuant to this Agreement, or is not good at
time of deposit with Escrow Holder; or (ii) if Buyer and Seller instruct Escrow Holder to cancel escrow.
E.
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 3 Days after mutual execution of the amendment.
21.REMEDIES FOR BUYER'S BREACH OF CONTRACT:
A. Any clause added by the Parties specifying a remedy (such as release or forfeiture of deposit or making a deposit
non-refundable) for failure of Buyer to complete the purchase in violation of this Agreement shall be deemed invalid
unless the clause independently satisfies the statutory liquidated damages requirements set forth in the Civil Code.
B. LIQUIDATED DAMAGES: If Buyer fails to complete this purchase because of Buyer's default, Seller shall retain,
as liquidated damages, the deposit actually paid. If the Property is a dwelling with no more than four units, one
of which Buyer intends to occupy, then the amount retained shall be no more than 3% of the purchase price. Any
excess shall be returned to Buyer. Except as provided in paragraph 14H, release of funds will require mutual,
Signed release instructions from both Buyer and Seller, judicial decision or arbitration award. AT THE TIME OF
ANY
INCREASED DEPOSIT BUYER AND SELLER SHALL SIGN A SEPARATE LIQUIDATED DAMAGES PROVISION
INCORPORATING THE INCREASED DEPOSIT AS LIQUIDATED DAMAGES (C.A.R. FORM RID).
Buyer's Initials / Seller's Initials /
22. DISPUTE RESOLUTION:
A. MEDIATION: The Parties agree to mediate any dispute or claim arising between them out of this Agreement, or any resulting
transaction, before resorting to arbitration or court action through the C.A.R. Real Estate Mediation Center for Consumers
(www.consumermediation.org) or through any other mediation provider or service mutually agreed to by the Parties. The
Parties also agree to mediate any disputes or claims with Broker(s), 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 fees, if any, shall be
divided equally among the Parties involved. If, for any dispute or claim to which this paragraph applies, any Party (i) commences
an action without first attempting to resolve the matter through mediation, or (ii) before commencement of an action, refuses to
mediate after a request has been made, then that Party shall not be entitled to recover attorney fees, even if they would otherwise
be available to that Party in any such action. THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION
PROVISION IS INITIALED. Exclusions from this mediation agreement are specified in paragraph 22C.
B. ARBITRATION OF DISPUTES:
The Parties agree that any dispute or claim in Law or equity arising between them out of this Agreement or any
resulting transaction, which is not settled through mediation, shall be decided by neutral, binding arbitration. The
Parties 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 9 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 22C.
“NOTICE: BY INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE
ARISING OUT OF THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION DECIDED
BY NEUTRAL ARBITRATION AS PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY
RIGHTS YOU MIGHT POSSESS TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY
INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL RIGHTS TO DISCOVERY AND
APPEAL, UNLESS THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE 'ARBITRATION OF DISPUTES'
PROVISION. IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU
MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF CIVIL
PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY.”
“WE HAVE READ AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF
THE MATTERS INCLUDED IN THE 'ARBITRATION OF DISPUTES' PROVISION TO NEUTRAL ARBITRATION.”
Buyer's Initials / Seller's Initials /
C. ADDITIONAL MEDIATION AND ARBITRATION TERMS:
(1) EXCLUSIONS: The following matters are excluded from mediation and arbitration: (i) a judicial or non-judicial foreclosure
or other action or proceeding to enforce a deed of trust, mortgage or installment land sale contract as defined in Civil
Code §2985; (ii) an unlawful detainer action; and (iii) any matter that is within the jurisdiction of a probate, small claims or
bankruptcy court.
Buyer's Initials ( ) ( ) Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 8 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 8 OF 10)
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(2) PRESERVATION OF ACTIONS: The following shall not constitute a waiver nor violation of the mediation and arbitration
provisions: (i) the filing of a court action to preserve a statute of limitations; (ii) the filing of a court action to enable the
recording of a notice of pending action, for order of attachment, receivership, injunction, or other provisional remedies; or
(iii) the filing of a mechanic's lien.
(3) BROKERS: Brokers shall not be obligated nor compelled to mediate or arbitrate unless they agree to do so in writing. Any
Broker(s) participating in mediation or arbitration shall not be deemed a party to this Agreement.
23. SELECTION
OF SERVICE PROVIDERS: Brokers do not guarantee the performance 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 of their own choosing.
24. MULTIPLE LISTING SERVICE (“MLS”): Brokers are authorized to report to the MLS a pending sale and, upon Close Of Escrow, the sales
price and other terms of this transaction shall be provided to the MLS to be published and disseminated to persons and entities authorized
to use the information on terms approved by the MLS.
25. ATTORNEY FEES: In any action, proceeding, or arbitration between Buyer and Seller arising out of this Agreement, the prevailing Buyer or
Seller shall be entitled to reasonable attorney fees and costs from the non-prevailing Buyer or Seller, except as provided in paragraph 22A.
26. ASSIGNMENT: Buyer shall not assign all or any part of Buyer's interest in this Agreement without first having obtained the separate written
consent of Seller to a specified assignee. Such consent shall not be unreasonably withheld. Any total or partial assignment shall not
relieve Buyer of Buyer's obligations pursuant to this Agreement unless otherwise agreed in writing by Seller. (C.A.R. Form AOAA).
27. EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with federal, state and local anti-discrimination Laws.
28. 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
disputes paragraph is incorporated in this Agreement if initialed by all Parties or if incorporated by mutual agreement in a counter offer or
addendum. If at least one but not all Parties initial, a counter offer is required until agreement is reached. Seller has the right to continue to
offer the Property for sale and to accept any other offer at any time prior to notification of Acceptance. The Parties have read and
acknowledge receipt of a Copy of the offer and agree to the confirmation of agency relationships. If this offer is accepted and Buyer
subsequently defaults, Buyer may be responsible for payment of Brokers' compensation. This Agreement and any supplement, addendum
or modification, including any Copy, may be Signed in two or more counterparts, all of which shall constitute one and the same writing.
29. TIME
OF ESSENCE; ENTIRE CONTRACT; CHANGES:
Time is of the essence. All understandings between the Parties are incorporated in this
Agreement.
Its terms are intended by the Parties as a final, complete and exclusive expression of their Agreement with respect to its subject matter,
and
may not be contradicted by evidence of any prior agreement or contemporaneous oral agreement. If any provision of this Agreement is held to
be
ineffective or invalid, the remaining provisions will nevertheless be given full force and effect. Except as otherwise specified, this Agreement shall
be
interpreted and disputes shall be resolved in accordance wth 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.
30. DEFINITIONS: As used in this Agreement:
A. “Acceptance” means the time the offer or final counter offer is accepted in writing by a Party and is delivered to and personally
received by the other Party or that Party's authorized agent in accordance with the terms of this offer or a final counter offer.
B. “Agreement” means this document and any counter offers and any incorporated addenda, collectively forming the binding agreement
between the Parties. Addenda are incorporated only when Signed by all Parties.
C. “C.A.R. Form” means the most current version of the specific form referenced or another comparable form agreed to by the parties.
D. “Close Of Escrow”, including “COE”, means the date the grant deed, or other evidence of transfer of title, is recorded.
E. “Copy” means copy by any means including photocopy, NCR, facsimile and electronic.
F. “Days” means calendar days. However, after Acceptance, the last Day for performance of any act required by this Agreement
(including Close Of Escrow) shall not include any Saturday, Sunday, or legal holiday and shall instead be the next Day.
G. “Days After” means the specified number of calendar days after the occurrence of the event specified, not counting the calendar date
on which the specified event occurs, and ending at 11:59 PM on the final day.
H. “Days Prior” means the specified number of calendar days before the occurrence of the event specified, not counting the calendar
date on which the specified event is scheduled to occur.
I. “Deliver”, “Delivered” or “Delivery”, unless otherwise specified in writing, means and shall be effective upon: personal receipt by
Buyer or Seller or the individual Real Estate Licensee for that principal as specified in the section titled Real Estate Brokers on page 10,
regardless of the method used (i.e., messenger, mail, email, fax, other).
J. “Electronic Copy” or “Electronic Signature” means, as applicable, an electronic copy or signature complying with California Law.
Buyer and Seller agree that electronic means will not be used by either Party to modify or alter the content or integrity of this Agreement
without the knowledge and consent of the other Party.
K. “Law” means any law, code, statute, ordinance, regulation, rule or order, which is adopted by a controlling city, county, state or federal
legislative, judicial or executive body or agency.
L. “Repairs” means any repairs (including pest control), alterations, replacements, modifications or retrofitting of the Property provided for
under this Agreement.
M. “Signed” means either a handwritten or electronic signature on an original document, Copy or any counterpart.
31. EXPIRATION OF OFFER: This offer shall be deemed revoked and the deposit, if any, shall be returned to Buyer unless the offer is Signed
by Seller and a Copy of the Signed offer is personally received by Buyer, or by ,
who is authorized to receive it, by 5:00 PM on the third Day after this offer is signed by Buyer (or by AM/ PM,
on (date)).
One or more Buyers is signing this Agreement in a representative capacity and not for him/herself as an individual. See attached
Representative Capacity Signature Disclosure (C.A.R. Form RCSD-B) for additional terms.
Date BUYER
(Print name)
Date BUYER
(Print name)
Additional Signature Addendum attached (C.A.R. Form ASA).
Seller's Initials ( ) ( )
RPA-CA REVISED 12/15 (PAGE 9 OF 10)
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 9 OF 10)
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
Property Address: Date:
32. ACCEPTANCE OF OFFER: Seller warrants that Seller is the owner of the Property, or has the authority to execute this Agreement.
Seller accepts the above offer, and agrees to sell the Property on the above terms and conditions. Seller has read and
acknowledges receipt of a Copy of this Agreement, and authorizes Broker to Deliver a Signed Copy to Buyer.
(If checked) SELLER'S ACCEPTANCE IS SUBJECT TO ATTACHED COUNTER OFFER (C.A.R. Form SCO or SMCO) DATED:
.
One or more Sellers is signing this Agreement in a representative capacity and not for him/herself as an individual. See attached
Representative Capacity Signature Disclosure (C.A.R. Form RCSD-S) for additional terms.
Date SELLER
(Print name)
Date SELLER
(Print name)
Additional Signature Addendum attached (C.A.R. Form ASA).
( _____ / _____ )
(Do not initial if making a counter offer.) CONFIRMATION OF ACCEPTANCE: A Copy of Signed Acceptance was
(Initials) personally received by Buyer or Buyer's authorized agent on (date) at
AM/
PM. A binding Agreement is created when a Copy of Signed Acceptance is personally received by
Buyer or Buyer's authorized agent whether or not confirmed in this document. Completion of this confirmation
is not legally required in order to create a binding Agreement; it is solely intended to evidence the date that
Confirmation of Acceptance has occurred.
REAL ESTATE BROKERS:
A. Real Estate Brokers are not parties to the Agreement between Buyer and Seller.
B. Agency relationships are confirmed as stated in paragraph 2.
C.
If specified 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, the amount specified in the MLS, provided Cooperating Broker
is a Participant of the MLS in which the Property is offered for sale or a reciprocal MLS. If Listing Broker and Cooperating Broker
are not both Participants of the MLS, or a reciprocal MLS, in which the Property is offered for sale, then compensation must be
specified in a separate written agreement (C.A.R. Form CBC). Declaration of License and Tax (C.A.R. Form DLT) may be used to
document that tax reporting will be required or that an exemption exists.
Real Estate Broker (Selling Firm) CalBRE Lic. #
By CalBRE Lic. # Date
By CalBRE Lic. # Date
Address City State Zip
Telephone Fax E-mail
Real Estate Broker (Listing Firm) CalBRE Lic. #
By CalBRE Lic. # Date
By CalBRE Lic. # Date
Address City State Zip
Telephone Fax E-mail
ESCROW HOLDER ACKNOWLEDGMENT:
Escrow Holder acknowledges receipt of a Copy of this Agreement, (if checked, a deposit in the amount of $ ),
counter offer numbers Seller's Statement of Information and
, and agrees to act as Escrow Holder subject to paragraph 20 of this Agreement, any
supplemental escrow instructions and the terms of Escrow Holder's general provisions.
Escrow Holder is advised that the date of Confirmation of Acceptance of the Agreement as between Buyer and Seller is
Escrow Holder Escrow #
By Date
Address
Phone/Fax/E-mail
Escrow Holder has the following license number #
Department of Business Oversight, Department of Insurance, Bureau of Real Estate.
PRESENTATION OF OFFER: ( ) Listing Broker presented this offer to Seller on
(date).
Broker or Designee Initials
REJECTION OF OFFER: ( ) ( ) No counter offer is being made. This offer was rejected by Seller on
(date).
Seller's Initials
©1991- 2015, California Association of REALTORS®, Inc. United States copyright law (Title 17 U.S. Code) forbids the unauthorized distribution, display and reproduction of this
form, or any portion thereof, by photocopy machine or any other means, including facsimile or computerized formats.
THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY
OR ACCURACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE
TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.
Published and Distributed by: Buyer Acknowledges that page 10 is part of this Agreement ( ) ( )
REAL ESTATE BUSINESS SERVICES, INC. Buyer's Initials
a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS®
525 South Virgil Avenue, Los Angeles, California 90020 Reviewed by
RPA-CA REVISED 12/15 (PAGE 10 of 10)
Broker or Designee
CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 10 OF 10)
Produced with zipForm® by zipLogix 18070 Fifteen Mile Road, Fraser, Michigan 48026 www.zipLogix.com
Form Made Fillable by eForms
Page _______ Date: _______________________ 1
2
This addendum to the Purchase Agreement dated _______________________ pertains to the purchase of the property 3
located at ____________________________________________________________________ (herein the “Property”). If any conflict 4
exists between the terms of this addendum and any terms contained elsewhere in this Purchase Agreement, the terms of 5
this addendum shall supersede and take precedence. Buyer and Seller understand that this is a legally binding Purchase 6
Agreement. If either party desires legal or tax advice, they should consult an appropriate professional. 7
8
Buyer accepts the Property “As-Is.” Any warranties of physical condition of the Property contained in this 9
Purchase Agreement are void. Seller shall have no further responsibility or liability with respect to the condition of the 10
Property. This provision shall survive delivery of the deed. 11
12
Buyer shall have the right and duty to inspect the Property or have it inspected by a person of Buyer’s choice 13
at Buyer’s expense. This Purchase Agreement is subject to Buyer completing an inspection and ratifying this Purchase 14
Agreement by removing this contingency in writing prior to closing, based upon the inspection. The inspection may 15
include, but is not limited to, Buyer’s contractors confirming repair estimates. Promptly after signing this Purchase 16
Agreement, Seller shall provide keys, alarm codes, gate codes, and garage door openers to Buyer. Seller allows Buyer to 17
place a lock box on the Property in order to facilitate access for contractors, partners, lenders, renters, or buyers. In order 18
to facilitate a timely inspection process, and since certain contractors require that the Property be vacant while 19
inspections are being performed, Seller shall ensure the Property is vacated during the times provided by Buyer. If Buyer 20
elects to have a pest inspection, Buyer shall notify Seller in writing and Seller shall provide Buyer with a pest inspection 21
clearance letter from a pest inspection company of Buyer’s choice. 22
23
Buyer and Seller shall use a settlement company of Buyer’s choice to close this transaction. If any earnest money 24
is included in this Purchase Agreement, it may be deposited with the settlement company before closing at Buyer’s option. 25
If Buyer defaults on this Purchase Agreement for any reason, Seller’s sole remedy shall be to retain the earnest money. If 26
closing is delayed by Seller, Seller shall pay Buyer a per diem penalty of one hundred dollars. Buyer may extend the 27
closing date an additional thirty days, without the need for an amendment, by delivering written notice and one hundred 28
dollars to Seller. Buyer shall have the right to make a pre-closing inspection of the Property to determine that the 29
Property is in the same condition as of the date of this Purchase Agreement. Any material change to the Property prior to 30
closing shall entitle Buyer to cancel this Purchase Agreement by providing a written unilateral cancellation notice to 31
Seller. Buyer shall have the right to make a pre-closing inspection of the Property to ensure it is vacant without tenants 32
or occupants of any kind. Closing shall be automatically extended, without the need for an amendment, until tenants or 33
occupants vacate the Property. Seller shall not continue to show the Property nor negotiate, receive, or accept back-up 34
offers. Seller shall be responsible for any pending, levied, or certified assessments prior to closing. If an inspection report 35
is required by the municipality in which the Property is located, either Buyer or Seller may schedule the inspection and 36
Seller shall be responsible for the payment of any required inspection fees. If the municipality in which the Property is 37
located charges or assesses vacant building fees, Seller shall be responsible for any such charged, pending, levied, and/or 38
certified fees. If any open permits exist for the Property, Buyer may require Seller to have such permits closed by the 39
appropriate city inspectors in a timely manner. Any cancellations, as provided in this Purchase Agreement, must be in 40
writing and delivered to the other party in a timely manner. Any references to, or calculation of, days in this Purchase 41
Agreement shall be considered business days and not calendar days, unless specifically stated otherwise. 42
Page _______ Date: _______________________ 43
44
(Check ONE) 45
46
□ Seller shall remove all personal property and leave the Property in “broom-clean” condition prior to closing.47
□ Seller may leave any personal property currently at the Property for disposal by Buyer. Seller shall not add48
any additional items to the Property. Neither Seller nor Buyer assume any responsibility or liability for any 49
personal property left at the Property after closing and Buyer may dispose of items as Buyer sees fit. Seller shall 50
sign a “Bill of Sale” at closing reflecting the “As-Is” sale of any personal property to Buyer for the payment of one 51
dollar by Buyer. 52
53
54
55
(Check ONE) 56
57
□ Seller shall pay Seller’s customary closing costs.58
□ Buyer shall pay Seller’s customary closing costs. This does NOT include; delinquent taxes, tax pro-rations,59
assessments, vacant building fees, judgments, foreclosure redemption fees, utility service bills, other liens, or 60
commissions due to real estate brokers retained by Seller. 61
62
63
64
(Check ONE) 65
66
□ Buyer shall pay Buyer’s customary closing costs.67
□ Seller shall pay Buyer’s customary closing costs.68
69
70
71
(OPTIONAL: Check ONE only if Property requires a “Code Compliance Inspection Report,” 72
otherwise leave blank.) 73
74
□ Closing shall occur within ______ days of Buyer receipt of any inspection reports required by the municipality75
in which the Property is located.76
□ Closing shall occur within ______ days of Buyer receipt of a sale approval letter from the municipality in which77
the Property is located.78
79
80
Buyer is a “for-profit” party and intends to make a profit on this transaction. Buyer is purchasing the 81
Property below market value for that purpose. Buyer may rehab the Property and either sell it or rent it. Buyer may re-82
sell the Property “As-Is” to another buyer who may rehab the Property and either sell it or rent it. Buyer may assign its 83
interest for a fee to another buyer without notification to, or approval from, Seller. An assignment by Buyer shall relieve 84
Buyer of its obligations pursuant to this Purchase Agreement. In order to procure renters or buyers for Buyer’s benefit, 85
Buyer may advertise the Property during the executory period of this Purchase Agreement. Buyer may change the 86
method of financing at no additional cost to Seller. In order to protect Buyer’s financial privacy, Buyer is not allowed or 87
required to provide Seller with verification of funds for any type of financing method used in this transaction. Buyer 88
(and/or its principals, and/or assignees) is a licensed real estate broker but does not represent Seller in any agency, 89
brokerage, or fiduciary capacity in this transaction. 90
91
Page _______ Date: _______________________ 92
93
Seller has read, understands, and is fully satisfied with this Purchase Agreement. Seller is not 94
confused about any aspect of this Purchase Agreement. Seller has willingly signed this Purchase Agreement and is not 95
under duress. Seller has no physical, mental, or emotional conditions that adversely affect them in signing this Purchase 96
Agreement. Seller is not under the influence of alcohol or any mind-altering substance. Seller is not taking medication 97
that would cloud their judgment or render them unable to think clearly or make informed decisions. Seller understands 98
that Buyer has negotiated on Buyer’s own behalf and that Seller has negotiated on Seller’s own behalf. Seller has not 99
been promised anything other than what is contained in this Purchase Agreement. There are no verbal promises, side 100
agreements, or other terms not contained in this Purchase Agreement. Buyer has not made any promises or agreements 101
to; a) sell the Property back to Seller, b) lease it back to Seller with an option to buy, or c) otherwise have an ongoing 102
business or contractual relationship with Seller regarding the Property. Seller understands that they are selling their 103
Property and that this is not a loan or a lease. Seller understands that they may be selling the Property below market 104
value but have chosen to do so because of a variety of reasons with regard to the Property and/or since the Seller’s 105
personal circumstances dictate that an immediate sale, even if at a discounted price, is preferable. Seller acknowledges 106
that this Purchase Agreement has been fairly negotiated and meets their current objectives. 107
108
109
110
111
112
_____________________________________________ _____________________________________________ 113
Seller’s Signature Date Buyer’s Signature Date 114
_____________________________________________ _____________________________________________ 115
Seller’s Printed Name Buyer’s Printed Name 116
117
118
_____________________________________________ _____________________________________________ 119
Seller’s Signature Date Buyer’s Signature Date 120
_____________________________________________ _____________________________________________ 121
Seller’s Printed Name Buyer’s Printed Name 122
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CALIFORNIA AND JOINT ESCROW INSTRUCTIONS RESIDENTIAL PURCHASE AGREEMENT

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Completed 24 July 2021

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