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<br />A-2008-061
<br />
<br />, A-~' C A L I FOR N I A
<br />...~ AS SOC IATION
<br />~ OF REALTORS'llJ
<br />
<br />Date March 11. 2008 , at
<br />1. OFFER:
<br />A. THIS IS AN OFFER FROM Ci ty Of San ta Ana
<br />B. THE REAL PROPERTY TO BE ACQUIRED is described as 1251 West Camile Street, Santa Ana
<br />, Assessor's Parcel No.
<br />Santa Ana , County of
<br />C. THE PURCHASE PRICE offered is Two Hundred Sixtv Thousand
<br />
<br />CALIFORNIA
<br />RESIDENTIAL PURCHASE AGREEMENT
<br />AND JOINT ESCROW INSTRUCTIONS
<br />For Use With Single Family Residential Property - Attached or Detached
<br />(CAR. Form RPA-CA, Revised 11/07)
<br />Santa Ana
<br />
<br />, California.
<br />
<br />("Buyer").
<br />
<br />CA
<br />
<br />92703
<br />
<br />Oranae
<br />
<br />, situated in
<br />, California, ("Property").
<br />
<br />Dollars $ 260,000.00
<br />D. CLOSE OF ESCROW shall occur on April 25. 2008 (date) (or 0 Days After Acceptance).
<br />2. FINANCE TERMS: Obtaining the loans below is a contingency of this Agreement unless: (i) either 2K or 2L is checked below; or (ii) otherwise
<br />agreed in writing. Buyer shall act diligently and in good faith to obtain the designated loans. Obtaining deposit, down payment and closing costs is not
<br />a contingency. Buyer represents that funds will be good when deposited with Escrow Holder.
<br />A. INITIAL DEPOSIT: Buyer has given a deposit in the amount of . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
<br />to the agent submitting the offer (or to 0 ), by personal check
<br />(or 0 ), made payable to
<br />which shall be held un cashed until Acceptance and then deposited within 3 business days after Acceptance
<br />~O ~~
<br />Escrow Holder, (orO into Broker's trust account).
<br />B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of . . . . . $
<br />within Days After Acceptance, or 0
<br />C. FIRST LOAN IN THE AMOUNT OF . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $
<br />(1) NEW First Deed of Trust in favor of lender, encumbering the Property, securing a note payable at maximum
<br />interest of % fixed rate, or % initial adjustable rate with a maximum interest rate
<br />of %, balance due in years, amortized over years. Buyer shall
<br />pay loan fees/points not to exc,eed . (These terms apply whether the designated loan
<br />is conventional, FHA or VA.)
<br />(2) 0 FHA 0 VA: (The following terms only apply to the FHA or VA loan that is checked.)
<br />Seller shall pay % discount points. Seller shall pay other fees not allowed to be paid by Buyer,
<br />o not to exceed $ . Seller shall pay the cost of lender required Repairs (including
<br />those for wood destroying pest) not otherwise provided for in this Agreement, 0 not to exceed
<br />$ . (Actual loan amount may increase if mortgage insurance premiums, funding
<br />fees or closing costs are financed.)
<br />D. ADDITIONAL FINANCING TERMS: 0 Seller financing, (CAR. Form SFA); 0 secondary financing, . . . . . . . . . . . $
<br />(CAR. Form PM, paragraph 4A); 0 assumed financing (CAR. Form PM, paragraph 4B)
<br />
<br />E. BALANCE OF PURCHASE PRICE (not including costs of obtaining loans and other closing costs) in the amount of . . $
<br />to be deposited with Escrow Holder within sufficient time to close escrow.
<br />F. PURCHASE PRICE (TOTAL): . . . . . . . . . . . . . . . . . . .. .............................................. $ 260,000.00
<br />G. LOAN APPLICATIONS: Within 7 (or 0 ) Days After Acceptance, Buyer shall provide Seller a letter from lender or mortgage loan
<br />broker stating that, based on a review of Buyer's written application and credit report, Buyer is prequalified or preapproved for the NEW loan
<br />specified in 2C above.
<br />H. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to 2G) shall, within
<br />7 (or 0 ) Days After Acceptance, provide Seller written verification of Buyer's down payment and closing costs.
<br />I. LOAN CONTINGENCY REMOVAL: (i) Within 17 (or 0 ) Days After Acceptance, Buyer shall, as specified in paragraph 14, remove
<br />the loan contingency or cancel this Agreement; OR (ii) (if checked) 0 the loan contingency shall remain in effect until the designated loans are
<br />funded.
<br />J. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (OR, if checked, 0 is NOT) contingent upon the Property appraising at no
<br />less than the specified purchase price. If there is a loan contingency, at the time the loan contingency is removed (or, if checked, 0 within 17 (or
<br />) Days After Acceptance), Buyer shall, as specified in paragraph 14B(3), remove the appraisal contingency or cancel this Agreement.
<br />If there is no loan contingency, Buyer shall, as specified in paragraph 14B(3), remove the appraisal contingency within 17 (or ) Days
<br />After Acceptance.
<br />K. !Xl NO LOAN CONTINGENCY (If checked): Obtaining any loan in paragraphs 2C, 20 or elsewhere in this Agreement is NOT a contingency of this
<br />Agreement. If Buyer does not obtain the loan and as a result Buyer does not purchase the Property, Seller may be entitled to Buyer's deposit or
<br />other legal remedies.
<br />L. ~ ALL CASH OFFER (If checked): No loan is needed 10 purchase the Property. Buyer shall, wilhin 7 (or 0
<br />provide Seller written verification of sufficient funds to close this transaction.
<br />3. CLOSING AND OCCUPANCY:
<br />A. Buyer intends (or ~ does not intend) to occupy the Property as Buyer's primary residence.
<br />B. Seller-occupied or vacant property: Occupancy shall be delivered to Buyer at 12: 00 IX! AM 0 PM, 0 on the date of Close Of Escrow;
<br />o on ; or 0 no later than Days After Close Of Escrow. (CAR. Form PM, paragraph 2.) If transfer of title and
<br />occupancy do not occur at the same time, Buyer and Seller are advised to: (i) enter into a written occupancy agreement; and (ii) consult with their
<br />insurance and legal advisors. ~uyer's Initials ( <.J1':Z ) ( )
<br />The copyright laws of the United States (Tille 17 U.S. Code) forbid the unauthorized " . .
<br />reproduction of this form, or any portion thereof, by photocopy machine or any other Seller s Imtlals ( ) ( )
<br />means, including facsimile or computerized formats. Copyright @ 1991-2007, I I
<br />CALIFORNIA ASSOCIATION OF REALTORs@), INC. ALL RIGHTS RESERVED. Reviewed by Date
<br />RPA-CA REVISED 11/07 (PAGE 1 OF 8) CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT RPA-CA PAGE 1 OF 8
<br />Agent: PJ Jahanglrl Phone: (714) 288-8600 Fax: (714) 289-1206 Prepared using WINForms@software
<br />Broker: Villa Realty Group 1421 N. Wanda Rd. Suite 120 , Orange CA 92867
<br />
<br />) Days After Acceptance,
<br />
<br />G:r
<br />EDUAL HOUSING
<br />OPPORTUNITY
<br />
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