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CALIFORNIA
<br />; c :a t.: I F c~ It N f .a RESIDENTIAL PURCHASE AGREEMENT
<br />~ ,a s s ca c f :q T r o ~~ AND JOINT ESCROW INSTRUCTIONS
<br />~rl~r O F R F A I_ T O R S 'r` For Use With Single Family Residential Property -Attached or Detached
<br />(C.A.R. Form RPA-CA, Revised 11!07)
<br />Date February 3, 2009 , at Santa Ana ,California.
<br />1. OFFER:
<br />A. THIS IS AN OFFER FROM _ City of Santa Ana ("Buyer").
<br />B. THE REAL PROPERTY TO BE ACQUIRED is described as 518 N Bristol Santa Ana CA
<br />Assessor's Parcel No. ,situated in
<br />Santa Ana ,County of Oranoe ,California, ("Property").
<br />C. THE PURCHASE PRICE offered is Two Hundred Sixteen Thousand
<br />Dollars $ 216 000.00
<br />D. CLOSE OF ESCROW shall occur on (date) (or ® 45 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 (fi) 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 ^ ), by personal check
<br />(or ^ ), made payable to ,
<br />which shall be held uncashed until Acceptance and then deposited within 3 business days after Acceptance
<br />(or ^ ), with
<br />Escrow Holder, (or^ 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 ^
<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 feeslpoints not to exceed . (These terms apply whether the designated loan
<br />is conventional, FHA or VA.)
<br />(2) ^ FHA ^ 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 />^ not to exceed $ .Seiler shall pay the cost of lender required Repairs (including
<br />those for wood destroying pest) not otherwise provided for in this Agreement, ^ 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: ^ Seller financing, (C.A.R. Form SFA); ^ secondary financing, ........... $
<br />(C.A.R. Form PAA, paragraph 4A); ^ assumed financing (C.A.R. Form PAA, paragraph 4B)
<br />E. BALANCE OF PURCHASE PRICE (not including costs of obtaining loans and other closing costs) in the amount of .. $ 216, 0 00.00
<br />to be deposited with Escrow Holder within sufficient time to close escrow.
<br />F. PURCHASE PRICE (TOTAL) :................................................................... $ 216, 000.00
<br />G. LOAN APPLICATIONS: Within 7 (or ^ )Days After Acceptance, Buyer shall provide Seiler 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 ^ )Days After Acceptance, provide Seller written verification of Buyer's down payment and closing costs.
<br />I. LOAN CONTINGENCY REMOVAL: (i) Within 17 (or ^ )Days After Acceptance, Buyer shall, as specified in paragraph 14, remove
<br />the loan contingency or cancel this Agreement; OR (fi) (if checked) ^ the loan contingency shall remain in effect until the designated loans are
<br />funded.
<br />J. APPRAISAL CONTINGENCY ANO REMOVAL: This Agreement is (OR, if checked, ®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, ^ within 17 (or
<br />Days After Acceptance), Buyer shall, as specified in paragraph 146(3), remove the appraisal contingency or cancel this Agreement.
<br />If there is no loan contingency, Buyer shall, as specified in paragraph 146(3), remove the appraisal contingency within 17 (or )Days
<br />After Acceptance.
<br />K. ®NO LOAN CONTINGENCY (If checked): Obtaining any loan in paragraphs 2C, 2D 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 to purchase the Property. Buyer shall, within 7 (or ^ )Days After Acceptance,
<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 ^ AM ^ PM, ®on the date of Close Of Escrow;
<br />^ on ; or ^ no later than Days After Close Of Escrow. (C.A.R. Form PAA, 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. Buyer's Initials ( k 9 ) ( )
<br />The copyright laws of the United Stales (Title 17 U.S. Code) forbid the unauthorized ~
<br />reproduction of this form, or any portion thereof, by photocopy machine or any other Seller's Initials ( ) ( )
<br />means, including facsimile or computerized formats. Copyright ® 1991-2007,
<br />CALIFORNIA ASSOCIATION OF REALTORS®, INC. ALL RIGHTS RESERVED. Reviewed b Date E°UAL NOUSINC
<br />RPA-CA REVISED 11!07 PAGE 1 OF 8 DPPORTUNITV
<br />( ) CAI IPARAl1A RFQIr1ClVT1A1 DIID/`u ACC er_DOOUCwrr iDDw_rw onr_e a ne o~
<br />Agent: Kent Jorgensen Phone: 9492916794 Fax: 7142598026 Prepared using WINForms®software
<br />Broker: Home Town Real Estate & Inv. 36 Windswept Way ,Mission Viejo CA 92692
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