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California e ------------------ Date ------------------ Seller ------------------ Purchaser ------------------ Agent ------------------ Date ------------------ Date ------------------ Date knowledge, that the information they have provided is true and accurate. ------------------ Seller ------------------ Purchaser ------------------ Agent ------------------ Date ------------------ Datunder 42 U.S.C. 4852d and is aware of his/her responsibility to ensure compliance. Certification of Accuracy The following parties have reviewed the information above and certify, to the best of theirisk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. Agent's Acknowledgment (initial) (e)------ Agent has informed the Seller of the Seller's obligations ty (or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or (ii) _____ waived the opportunity to conduct a rl information listed above. (d) _____ Purchaser has received the pamphlet Protect Your Family From Lead In Your Home. (e) Purchaser has (check (i) or (ii) below): (i) _____ received a 10-day opportuni)____ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. Purchaser's Acknowledgment (initial) (c) _____ Purchaser has received copies of alvided the Buyer with all available records and reports pertaining to lead-based paint and/or leadbased paint hazards in the housing (list documents): ______________________________________________ (iiii) ____ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. (b) Records and reports available to the Seller (Check (i) or (ii) below): (i) _____ Seller has prod-based paint hazards (Check (i) or (ii) below): (i) _____ Known lead-based paint and/or lead-based paint hazards are present in the housing (explain): ______________________________________________ ( known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller's Disclosure (a) Presence of lead-based paint and/or lea residential real property is required to provide the Buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller's possession and notify the Buyer of any, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest inoperty may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damaged Paint and/or Lead-Based Paint Hazards Lead Warning Statement Every Buyer of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such pr_____________________ City _______________________________ State and Zip ________________________ 19 Initials Seller _________________ Buyer _________________ Disclosure of Information on Lead-Basek. Failure of clearance of funds shall not excuse performance by the Buyer. By:_________________________________ (Earnest Money Holder Signature) Name: ______________________________ Address: _______s of Contract. The receipt of the Earnest Money under the Contract and the terms of the Contract are acknowledged. If payment was made by check, this acknowledgment is subject to clearance of the checr receiving funds is authorized and agrees by acceptance thereof to promptly deposit and to hold same in escrow and to disburse same subject to clearance thereof in accordance with terms and condition_______________ City _______________________________ State and Zip _______________________ 18 Initials Seller _________________ Buyer _________________ EARNEST MONEY RECEIPT Any Earnest Money Holde______________________________ State and Zip _______________________ Signature __________________________ Buyer _____________________________ Date ______________________________ Address: ____________ller _________________ Buyer _________________ Signature __________________________ Buyer _____________________________ Date ______________________________ Address: ___________________________ City _Seller __ ___________________________ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ 17 Initials Se______________ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Signature __________________________ CONSULT AN ATTORNEY AND A TAX PROFESSIONAL BEFORE SIGNING IT, TO MAKE SURE YOU UNDERSTAND ALL OF THE TERMS AND LEGAL AND TAX CONSEQUENCES. Signature __________________________ Seller __ _____________e specific information about individuals they are checking. Information regarding neighborhoods is not available through the "900" telephone service. THIS IS INTENDED TO BE A LEGALLY BINDING CONTRACT.any neighborhood. The Department of Justice also maintains a Sex Offender Identification Line through which inquiries about individuals may be made. This is a "900" telephone service. Callers must havr pursuant to paragraph (1) of subdivision (a) of Section 290.4 of the Penal Code. The data base is updated on a quarterly basis and a source of information about the presence of these individuals in nts, police departments serving jurisdictions of 200,000 or more and many other local law enforcement authorities maintain for public access a data base of the locations of persons required to registettached hereto as Addenda shall control all printed provisions in conflict therewith. REAL PROPERTY DISCLOSURE (Megan's Law Disclosure Notice: The California Department of Justice, sheriff's departmes under this contract, that party retains the right to enforce that term or provision at a later time. TYPEWRITTEN OR HANDWRITTEN PROVISIONS Typewritten or handwritten provisions inserted herein or ae, that waiver will only be effective for the specific instance and specific purpose for which the waiver was given. If either party fails to exercise or delays exercising any of its rights or remedie and such provision shall be modified, amended or limited only to the extent necessary to render it valid and enforceable. WAIVER If one party waives any term or provision of this contract at any timovision of this contract is invalid or unenforceable, any invalidity or unenforceability will affect only that provision and will not make any other provision of this contract invalid or unenforceablee plural, the male gender shall include the female gender and the neuter, and vice versa. 16 Initials Seller _________________ Buyer _________________ SEVERABILITY If any court determines that any prrts, each constituting a duplicate original, but all such counterparts constituting one and the same Agreement. INTERPRETATION Whenever the context hereof shall require, the singular shall include thING EFFECT This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their successors and assigns. COUNTERPARTS This Agreement may be executed in several counterpa_____. ASSIGNABILITY (select one and initial) [ _______ / _______ ] Buyer is prohibited from assigning all or any part of this agreement OR [ _______ / _______ ] Buyer may assign this Contract. BIND not be used to construe the meaning or intent of any term. GOVERNING LAW This contract will be governed by and construed in accordance with the laws of the state of _________________________________ted by any investigation, verification or approval by any party hereto or by anyone on behalf of any party hereto. HEADINGS Headings used in this Agreement are provided for convenience only and shalle true and correct on and as of the closing date with the same force and effect as if made at that time, and all of such representations and warranties shall survive the closing and shall not be affec 15 Initials Seller _________________ Buyer _________________ SURVIVAL OF REPRESENTATIONS AND WARRANTIES The representations and warranties set forth in this Contract shall be continuing and shall bar proceedings affecting the Property or any portion thereof, nor has Seller knowledge that any such action is presently contemplated which might or does affect the conveyance contemplated hereunder. gned this offer. PENDING LITIGATION Seller warrants and represents that there are no legal actions, suits or other legal or administrative proceedings, including cases, pending or threatened or similefore acceptance by written notice to the other party before acceptance. EFFECTIVE DATE The date of the Agreement ("Effective Date") shall be the date when the last one of the Seller and Buyer has si offering party. If both parties don't sign this Agreement before the expiration date, then any deposits or Earnest Money shall be returned to Buyer. The offer may be withdrawn by the offering party bther, it shall (before signed by the receiving party) constitute an offer that expires on _____________ ("Expiration Date") at _______ (time) unless earlier accepted by signing and returning it to the______________________ City _______________________________ State and Zip _______________________ EXPIRATION OF OFFER If this Contract is first prepared and signed by one party and delivered to the o Buyer _____________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Seller _____________________________ Address: _____ate and Zip _______________________ and if to Buyer: Buyer _____________________________ Address: ___________________________ City _______________________________ State and Zip _______________________n person; (2) by certified mail; or (3) by overnight courier as follows: If to Seller: Seller _____________________________ Address: ___________________________ City _______________________________ St_____ must be in writing, A notice may be delivered to a party at the address that follows a party's signature or to a new address that a party designates in writing. A notice may be delivered: (1) i______________________________________ NOTICES Any notice to be given or to be served upon any party hereto, in connection with this Agreement, 14 Initials Seller _________________ Buyer __________________________________ _______________________________________________________________________ _______________________________________________________________________ _________________________________ly to the extent set forth in such instrument. ADDITIONAL AGREEMENTS Seller and Buyer additionally agree that: ______________________________________ _________________________________________________ discharged, or terminated except by an instrument in writing signed by the party against which the enforcement of such waiver, modification, amendment, discharge or termination is sought, and then oned herein.. It replaces and supersedes any and all oral agreements between the parties, as well as any prior writings. Neither this Agreement nor any provision hereof may be waived, modified, amended,l estate professional, escrow agent or closing agent is a party to this Contract. ENTIRE AGREEMENT This Contract is the entire agreement between the parties with respect to the transaction contemplatonstitutes two or more persons, the terms "Seller" or "Buyer" shall be construed to read "Sellers" or "Buyers" whenever the sense of the Contract requires. Unless identified as Seller or Buyer, no rea with any litigation including appellate proceedings arising out of this Contract, the prevailing party shall be entitled to recover reasonable attorney's fees and costs. PARTIES If Seller or Buyer ction award may be entered in any court that has jurisdiction over the matter. Costs of arbitration, including lawyers' fees, will be allocated by the arbitrator. ATTORNEY FEES AND COSTS In connection If the dispute is not resolved within 30 days after it is referred to the mediator, it will be arbitrated by o ______________________. o an arbitrator to be mutually selected. Judgment on the arbitrated. The parties will share the costs of the mediator equally. Each party will cooperate fully and fairly with the mediator and will attempt to reach a mutually satisfactory compromise to the dispute.the parties will try in good faith to settle it through mediation conducted by 13 Initials Seller _________________ Buyer _________________ o ______________________. o a mediator to be mutually selec the dispute. If the dispute is not resolved within 30 days after it is referred to the mediator, either party may take the matter to court. o Mediation and Possible Arbitration. If a dispute arises, utually selected. The parties will share the costs of the mediator equally. Each party will cooperate fully and fairly with the mediator and will attempt to reach a mutually satisfactory compromise tomatter to court. o Mediation and Possible Litigation. If a dispute arises, the parties will try in good faith to settle it through mediation conducted by o ______________________. o a mediator to be mation of this contract, in which case and this shall be the sole remedy of Buyer under this Agreement. DISPUTES (select appropriate ones) o Litigation. If a dispute arises, either party may take the n of this Agreement If Seller defaults, Buyer may (1) enforce specific performance of the Contract and pursue any other available legal remedies or both or (2) demand a refund of the deposit in terminagree that said sum shall constitute liquidated damages since both Buyer and Seller agree that actual damages for default or breach of contract could not readily be ascertained at the date of executiocel this contract and claim the deposit as liquidated damages and Seller agrees to accept and take said deposit as Seller's total damages and relief hereunder in such event. In such event the parties s, powers, options or remedies allowed herein or by law. If Buyer defaults, Seller may (1) enforce specific performance of the Contract and pursue any other available legal remedies or both or (2) caners, options or remedies afforded to Buyer or Seller either hereunder or by law shall be cumulative and not alternative and the exercise of one right, power, option or remedy shall not bar other right Contract shall constitute a material default. Following a material default by either Buyer or Seller, the other party may pursue any remedies or damages available at law or in equity. All rights, powall extend to 5:00 p.m. of the next business day. DEFAULTS AND REMEDIES. Failure of either party to comply with any material covenant, agreement, or obligation within the time limits required by thisess than six (6) days shall in the computation thereof, exclude Saturdays, Sundays and legal holidays, and any time period provided for herein which shall end on a Saturday, Sunday or legal holiday shll pay any _____________________________________ 12 Initials Seller _________________ Buyer _________________ TIME Time is of the essence of this Contract. Any reference herein to time periods of lny recording any corrective instruments Both will pay any loan origination fees. Both will pay any _____________________________________ Both will pay any _____________________________________ Both willer o Seller o Seller o Seller o Buyer o Buyer o Buyer o Buyer o Buyer o Buyer o Buyer o Both will pay any Survey work. Both will pay any recording of purchase money mortgage (if any) Both will pay ae commitment. o Seller o Buyer o Both will pay any premium payable for the title commitment and title policy (i.e. title insurance) issued pursuant thereto. o o o o o o o Seller o Seller o Seller o Se required by law on the mortgage. o Seller o Buyer o Both will pay any All recording costs, including recording of the deed, mortgage, and any documents required in connection with the title insuranc any transfer tax when title passes. o Seller o Buyer o Both will pay any Documentary stamps which are required to be affixed to the Warranty Deed; o Seller o Buyer o Both will pay any intangible taxn with the Closing shall be paid as follows (select whichever applies. Check both if cost is split 50/50 between buyer and seller. Delete the one(s) that don't apply): o Seller o Buyer o Both will pay____________________________________________________________________ _________________________________________________________________ (Other or none) CLOSING COSTS The costs and expenses in connectioement and any required mortgage, mortgage note, security agreement and financing statement and _______________ ______________________________________________________________________________ __________et forth in the Contract, Buyer shall deliver to Seller, cashier check or 11 Initials Seller _________________ Buyer _________________ other immediate local funds in the amount set forth in this Agrein connection with perfecting the title. PURCHASER'S OBLIGATIONS AT CLOSING Subject to the terms, conditions and provisions hereof, and concurrently with the performance by Seller of its obligations s the Property to Buyer subject to any limitations set forth above : b. Furnish closing statement, mechanic's lien affidavit, assignments of leases, and any corrective instruments that may be required ___________________________________ SELLER'S OBLIGATION AT CLOSING At Closing, Seller shall do the following: a. Execute, acknowledge, and deliver to Buyer a Warranty Deed or ______________ conveying________________________________________ ______________________________________________________________________ ______________________________________________________________________ _________________the amount of said mortgage from the amount stated herein shall be added to or deducted from either the cash payment or the second mortgage as the Seller may elect. (iii) (iv) (v) Other: ___________ther requirements imposed by governmental authority, if any; public utility easements of record, if any; Mortgage to be assumed or purchase money mortgages as described above, if any; Any variance in taxes and assessments for year of closing and subsequent years; Restrictions and matters appearing on the plat or otherwise common to the subdivision, easements and zoning ordinances of record, and ouch intervening defect except as may be available to Buyer by virtue of warranties, if any, contained in deed. RESTRICTIONS, EASEMENTS, LIMITATIONS The Buyer shall take title subject only to: (i) (ii)e the Property and reconvey same to the Seller by special warranty deed. In the event Buyer fails to make timely demand for refund, he shall take title as is, waiving all rights against Seller as to sly cure said defect, all monies paid hereunder shall, upon written demand therefore and within five (5) days thereafter, be returned to Buyer and, simultaneously with such repayment, Buyer shall vacatsaid five (5) day period, notify Seller in writing of the defect and Seller shall have thirty (30) days from date of receipt of such notification to cure said defect. In the event Seller fails to timeitials Seller _________________ Buyer _________________ upon for a period of not longer than five (5) days from and after closing date. If Seller's title is rendered unmarketable, Buyer shall within Seller's title unmarketable from the date of the last evidence, and the cash proceeds of sale shall be held in escrow by Seller's attorney or by such other escrow agent as may be mutually agreed 10 Ins and furnishings. The deed shall be recorded upon clearance of funds and evidence of title continued at Buyer's expense, to show title in Buyer, without any encumbrances or change which would render this contract to the contrary notwithstanding. Unless otherwise agreed by the parties, Buyer shall have possession of the Property immediately following the closing, free and clear of all trash, debrie derived from an institutional mortgagee, the requirements of said mortgagee as to time of day, place and procedures for closing, and for disbursement of mortgage process, shall control, anything in ded by other provisions of Contract, or by written agreement of the Parties. The "Closing" shall take place at a mutually convenient place and time. However, if a portion of the purchase price is to bproperty after the date of closing. CLOSING AND POSSESSION This transaction shall be closed ("Closing") and the deed and other closing papers delivered on the ______ day of ______ 20 __, unless extensed (exclusive of rebates and penalties) that are a lien on the Property shall be prorated between the parties as of the Closing Date. Buyer will pay any special assessments that become a lien on the rvive closing. OR [_____ / _____ ] Unless the parties agree otherwise, all prorations shall be final. SPECIAL ASSESSMENTS Any special assessments for the year in which the sale of the Property is cloclosing occurs, Seller and Buyer agree to adjust the proration of taxes and, if necessary, to refund or pay, as the case may be, an amount necessary to effect such adjustments. This provision shall suy occurs prior to closing, unless otherwise provided for herein. ADJUSTMENTS (select and initial one) [_____ / _____ ] Subsequent to the closing, when the tax rate is fixed for the year in which the The cash at closing shall be increased or decreased as may be required by said prorations. All references in Contract to prorations as of date of closing will be deemed "date of occupancy" if occupanc the information available on the Closing Date. Buyer shall have the option of taking over any existing policies of insurance on the Property, if assumable, in which event premiums shall be prorated. the actual taxes based on the new value are not available, they will 9 Initials Seller _________________ Buyer _________________ agree to a reasonable estimation of the current year's taxes based onat the more current assessed value, if ascertainable, and the estimated amount prorated. The parties also agree that if the Property has been reappraised or reclassified within the preceding year and ver, if the Property was materially improved following the determination of the assessed value upon which the prior year's taxes were based, taxes will be estimated based on the preceding year's levy ll occur before the tax rate is fixed for the then current year, the apportionment of taxes shall be upon the basis of the tax rate of the preceding year applied to the latest assessed valuation. Howebe prorated as to the date of closing for the year of closing (on a 30-day-month, 360-day-year basis) and thereafter shall be the responsibility of Buyer, subject to applicable law. If the closing shaty of title, subject to such liens as may be otherwise provided for herein. TAX AND OTHER PRORATIONS Taxes, assessments, rent, interest, insurance and other expenses and revenue of the Property shall to the Property free and clear of all liens and encumbrances, except as provided in this Contract. Personal property shall, at the request of Buyer, be conveyed by an absolute bill of sale with warranrketable title to the property to Buyer by a warranty deed and take all other steps reasonably necessary to complete the closing. The warranty deed shall convey to Buyer a marketable fee simple title turned to Seller together with any information that Buyer may have compiled with respect to the Property. DELIVERY OF DEED On or before the Closing Date, Seller shall execute, transfer and deliver maormation may be used by Buyer in such manner as it desires; provided that in the event Buyer fails to purchase the Property for any reason other than Seller's default, all such information shall be reeof, Seller shall furnish to Buyer all engineering plans, drawings, surveys, artist's renderings and economic and financial studies which Seller has, if any, relating to the Property, and all such infr shall terminate, or Buyer may close this transaction in the same manner as if no defects had been found without reduction in the Purchase Price. ENGINEERING PLANS AND STUDIES Upon the execution heritle. If the Seller shall fail to remove or cure said encroachments within the period of time, then the deposit this day paid shall be returned to Buyer and all rights and liabilities arising hereundeher lands, written notice of that effect shall be given to the Seller and Seller shall have the same time to remove such encroachments as is allowed under this Agreement for the curing of defects of t be made of the Property prior to the closing date. If the survey shows encroachments on the Property herein described, or that the improvements located on the Property herein described encroach on othich could serve as a basis for a mechanic's lien have been paid or will be paid at closing. 8 Initials Seller _________________ Buyer _________________ PROFESSIONAL SURVEY A survey oshall oshall not to Seller's lien affidavit setting forth the names of all such general contractors, subcontractors, suppliers and material men and further reciting that, in fact, all bills for work to the Property wproperty has been improved within said time, Seller shall deliver releases or waivers of all mechanic's liens, executed by general contractors, subcontractors, suppliers, and material men, in additionown to Seller with respect to, the Property, and further attesting that there have been no improvements to the Property for one hundred twenty (120) days immediately prior to the Closing Date. If the redited to Seller. LIEN AFFIDAVIT Seller shall furnish to Buyer at closing an affidavit attesting to the absence of any security interest in, or financing statement, claim, lien, or potential lien kner may rescind the Contract unless Seller elects to pay such increase or excess. Buyer shall use reasonable diligence to obtain approval. The amount of any escrow deposits held by mortgagee shall be cay rescind the contract (and any earnest money will be returned to Buyer), or b) the mortgagee requires an increase in the interest rate or charges a fee for any reason in excess of $________, the Buy If a mortgage requires approval of the Buyer by the mortgagee in order to avoid default, or for assumption by the Buyer of said mortgage, and: a) the mortgagee does not approve the Buyer, the Buyer mhin twenty (20) days from execution hereof a statement from all mortgagee(s) (if any) setting forth principal balance, method of payment, interest rate and whether the mortgage(s) is in good standing. Unless otherwise agreed or if not available for reasons other than any act of Seller, Buyer's title policy will include mechanic's lien coverage. EXISTING MORTGAGES Seller shall furnish to Buyer wit, labor or material imposed by law and not shown by the public records. Seller agrees to cooperate with, and comply with the requirements of, the title insurance company for issuance of this coverage.ns permitted according to this Contract. The policy shall also insure Buyer as of the date of recording of the deed or other instrument of conveyance against any lien, or right to a lien, for servicesce insuring marketable fee simple title in Buyer from and after the Closing Date, subject only to exceptions for any liens, encumbrances or other matters created or brought about by Buyer and exceptioescribed herein shall be returned to Buyer and this Agreement shall be of no further force and effect. oSeller oBuyer shall pay for an owner's title insurance policy in the amount of the Purchase Prions raised by Buyer, without an adjustment in the purchase price, in which event said objections shall be deemed to be waived for all purposes, or (iii) rescind this Agreement, whereupon the deposit dtion), Buyer may, at its option: (i) 7 Initials Seller _________________ Buyer _________________ extend the time period for Seller to satisfy said objections, (ii) accept title subject to the objectiy all unacceptable matters to the reasonable satisfaction of Buyer. If Seller does not remedy any title defects before the Closing Date (or reasonably later date if extended by Buyer in Buyer's discreot acceptable, Buyer shall state which exceptions to the Title Commitment are unacceptable. Seller shall, at its sole cost and expense promptly undertake and use its best efforts to eliminate or modifeceipt of the title commitment, if the condition of title as set forth in such Title Commitment and survey is not satisfactory in Buyer's sole discretion. In the event that the condition of title is ntle insurance commitment shall be delivered to Buyer as soon as practicable, but at least fifteen (15) days before the Closing Date. Buyer shall give Seller written notice within ten (10) days after rng the Property, and which constitute exceptions to the Title Commitment. The title commitment shall commit to insure a marketable fee simple title in the Buyer upon the recording of the deed. This tise a title insurance company mutually acceptable to the Parties ("Title Company") to issue and deliver to Buyer a title commitment ("Title Commitment") accompanied by one copy of all documents affectifrom the Closing Date. The warranty plan cost shall not exceed $_________________. The charge for the warranty plan will be paid at closing. TITLE Seller, at Seller's sole cost and expense, shall cau to a per claim deductible not to exceed $____________. This warranty plan will be a limited service contract covering repair or replacement of the working components of the Property for one (1) year Contract and receive return of any Earnest Money deposit(s) made hereunder. WARRANTY PLAN oSeller oBuyer agrees to pay for a homebuyer's warranty plan from a reputable warranty plan provider, subjectr the said ____% or any insurance proceeds payable by virtue of such loss or damage or an assignment of the right to Seller's insurance proceeds for the loss or damage, or (b) Buyer may of cancel the t of repair or restoration exceeds ____% of the assessed valuation of the improvements so damaged, Buyer shall have the option of either (a) taking the Property as is, together with either a credit foovements so damaged, cost of restoration shall be an obligation of the Seller and closing shall proceed pursuant to the terms of Contract with costs therefore escrowed at closing. In the event the cosinsurance) is assumed by Seller. If the improvements are damaged by fire or other casualty prior to closing, and the costs of restoring same does not exceed ____% of the assessed valuation of the imprered to Purchaser, the risk of loss by fire, windstorm, earthquake, flood or other casualty (including those causes that could be covered by what is commonly referred to as fire and extended coverage _________________ CASUALTY LOSS Seller agrees to keep the improvements on the Property fully insured until delivery of Seller's deed to Buyer. Until the purchase is closed and the warranty deed delivsanitary or sewer service, if such charges have been incurred before the date of closing. Buyer will pay for the charges incurred after the date of closing. 6 Initials Seller _________________ Buyer uyer oSeller will pay the utility bills until closing. UTILITY CHARGES Seller will pay any other charges made against the property by any government authority for installation or extension of water, 78 and so Seller makes no statement about the existence of any lead-based paint. UTILITIES Seller owill owill not leave all utilities on until the date of possession. If the utilities are left on, oBned a separate Lead Paint Disclosure form, attached to this Contract and made a part hereof. OR [ _______ / _______ ] Seller represents that the house that is a part of the Property was built after 19le to Buyer, then Buyer may cancel this Contract and the Earnest Money shall be refunded to Buyer. LEAD PAINT DISCLOSURE (initial the one that applies) [ _______ / _______ ] Buyer and Seller have sigjurisdiction where the Property is located. If the level of Radon gas exceeds four picocuries per liter (4pCi/L) and Seller refuses to pay for the cost of installing Radon reduction equipment acceptabRadon gas in the Property and provide the report to Buyer at least fifteen (15) days prior to closing. The report shall be made by a reputable inspector, complying with federal law and the law of the and Radon testing may be obtained from the state or county public health officer. (Initial if this applies) [ ________ / _________ ] Seller shall arrange and pay for a report concerning the level of ho are exposed to it over time. Levels of Radon that exceed federal and state guidelines may have been found in buildings in the state where the Property is located. Additional information about Radonal to _____% of said Purchase Price. RADON TESTING Radon is a natural occurring radioactive gas that, when it accumulates in a building in sufficient quantities, may present health risks to persons wnded to Buyer, or Buyer may elect to 5 Initials Seller _________________ Buyer _________________ proceed with the transaction, in which event Buyer shall receive a credit at closing of an amount equthat amount, Buyer shall have the option of canceling Contract within five (5) days after receipt of contractor's repair estimate by giving written notice to Seller and the Earnest Money shall be refuualified inspector(s) is given to Seller as set forth in this section, Seller shall pay valid costs for treatment and repair of all damage up to _____% of the Purchase Price. Should such costs exceed rs will be done within thirty (30) days before closing. If written notice of any unsatisfactory condition (other than active pest infestation) signed by Buyer and supported by the written opinion of qselected by Seller. Seller will provide Buyer with a certificate evidencing such treatment and Buyer agrees to accept that certificate. If Buyer is obtaining financing, inspection, treatment and repaithe event that an inspection reveals that there is active pest infestation, Seller agrees to pay to have the Property treated for control of the infestation by a reputable, licensed pest control firm ion upon reasonable notice. Buyer shall pay for any damage to the Property resulting from any inspection. A copy of a pest inspector's written report (if any) shall be provided by Buyer to Seller. In ve given in this Contract as to failures not reported. Valid reported failures shall be corrected at Seller's cost with funds therefore escrowed at closing. Seller agrees to provide access for inspectking of possession thereof, or six (6) days prior to closing, whichever is first. Unless Buyer reports failures within said period, Buyer shall be deemed to have waived any warranty that Seller may hapair and maintenance thereof. Buyer shall give written notice to Seller, together with a copy of the written report(s) by the inspector(s) of any items found not to be in working condition prior to taoof, attic, structural components, environmental hazards, and pest infestation or damage and all other physical matters which may affect the value of the Property by licensed persons dealing in the re This may include, but not be limited to, inspections of appliances, plumbing, electrical and mechanical systems, central heating, ventilation and air conditioning, foundation, basement, crawlspace, rhange in the condition of the Property before closing, Seller shall promptly notify Buyer. MECHANICAL, PEST AND OTHER INSPECTIONS Buyer may, at Buyer's expense, have inspections made of the Property. Seller shall maintain the Property (including any lawn, shrubbery and/or pool) in its present condition through the date of possession, ordinary wear and tear excepted. In the event of any material c________________________________________________ ___________________________________________________________________________ ___________________________________________________________________________, heating, cooling, electrical, plumbing systems, and machinery are in working condition as of six (6) days prior to closing,), except for the following: __________________ ___________________________al inspection of the Property. To the best of Seller's knowledge, there are no physical problems with the property that would not be apparent upon inspection. Seller warrants that all major appliances Initials Seller _________________ Buyer _________________ PHYSICAL CONDITION OF PROPERTY AND EQUIPMENT Buyer acknowledges that Buyer or Buyer's Agent(s) or Representative(s) has made at least a casu Buyer, returned to him and this offer shall thereafter be null and void. The date of Contract ("Effective Date") shall be the date when the last one of the Seller and Buyer has signed this offer. 4 st Money holder, to do so. TIME FOR ACCEPTANCE AND EFFECTIVE DATE If this offer is not executed by both of the parties hereto on or before __________, the Earnest Money shall be, at the option of theand until the contingency is removed, either party may cancel this contract by written notice to the other. In that case, Seller will return the deposit to Buyer or authorize the escrow agent or Earnewithout selling Buyer's property. REMOVAL OF CONTINGENCIES If any contingency in this contract is not removed in writing by the required date, this contract becomes voidable. After the required date er's financing for the purchase of the Property is approved by Buyer's lender subject only to the sale of Buyer's property; or (ii.) Buyer is financially able to complete the purchase of the Property ). Buyer shall not exercise the option to continue this Contract and complete the purchase of the Property unless: (i.) Buyer has entered into a bona fide contract for sale of Buyer's property and Buyo be applied to the Purchase Price at closing) and agree in writing to remove both the contingency respecting the sale of Buyer's property and any financing contingency of this Contract (as applicableeceipt of Seller's written notice about the other offer to exercise the option of continuing this Contract. To exercise this option, Buyer must pay to Seller a non-refundable fee of $______________ (tto offer the Property for sale. If Seller accepts another bona fide offer before the sale and closing of Buyer's property, Seller shall notify Buyer. Buyer shall have _____________________ days from re sale and closing of Buyer's property located at _______________ ____________________________________________________________________________ on or before ______________________. Seller may continue e commitment is received by Purchaser. [ _______ / _______ ] Buyer obtaining and acquiring all the necessary approvals and permits to use the property for ___________________. [ _______ / _______ ] Thved by ___________________________. [ _______ / _______ ] Approval of the title insurance commitment by Purchaser's lawyer. This contingency is to be removed within _____ days after the title insuranco be removed by __________________________. [ _______ / _______ ] A stake survey or survey report at Purchaser's expense resulting in findings satisfactory to Purchaser. This contingency is to be remo [ _______ / _______ ] A review of public and private building and use requirements affecting the property at Purchaser's expense resulting in findings satisfactory to Purchaser. This contingency is tPurchaser's expense resulting in findings satisfactory to Purchaser. This contingency is to be removed by _______________________________. 3 Initials Seller _________________ Buyer _________________ at Purchaser's expense resulting in a report satisfactory to Purchaser. This contingency is to be removed by ___________________. [ _______ / _______ ] An environmental inspection of the property at operty at Purchaser's expense resulting in a report satisfactory to Purchaser. This contingency is to be removed by ___________________. [ _______ / _______ ] An architect's inspection of the property__. ADDITIONAL CONTINGENCIES This contract is also contingent upon satisfactory completion of the following items (initial those that apply): [ _______ / _______ ] A contractor's inspection of the pro obtain said loan. Should Buyer fail to obtain same or to waive Buyer's rights hereunder within said time, Buyer may cancel Contract. This financing contingency is to be removed by __________________of, at an interest rate not to exceed _______ percent (____%); of _______ years; and in the principal amount of $______________. Buyer agrees to make application for, and to use reasonable diligence turchase price or any part thereof is to be financed by a third party loan, this Contract, is conditioned upon the Buyer obtaining a firm commitment for said loan within _______ days from the date heren notice of cancellation of this Contract (as the case may be), then such failure shall constitute consent to disbursement of the Earnest Money as provided in such notice. SALE CONTINGENCIES If the py certified or registered mail from the third party Earnest Money holder, if any, or (ii) make written demand for return or forfeiture of the Earnest Money within ___________ days of receipt of writteursement of the Earnest Money nor a written consent to distribution and either party fails to: (i) respond in writing within ________ days of receipt of a written notice of pending disbursement sent b to pay the funds to the Clerk of the Court where the Property is located for disposition according to the order of the Court. Buyer and Seller agree that, if there is neither a dispute regarding disbf Buyer and Seller are unable to agree in writing upon the disbursement of the Earnest Money or any other funds, the third party holder may commence an interpleader or similar action and is authorizedother amount paid pursuant to this Contract before closing) will be directed not to disburse those funds without the written consent of Buyer and Seller, unless permitted to do so by applicable law. I_________________ Buyer _________________ Notwithstanding other provisions in this Contract regarding the refund or forfeiture of the Earnest Money, any third party holding the Earnest Money (or any accrued interest shall be accrued for the benefit of Buyer and either applied toward the purchase price at closing or returned to Buyer in the event the transaction does not close. 2 Initials Seller someone other than Seller, that holder shall be instructed to deposit the funds in an insured escrow account. Unless, the Earnest Money is somehow forfeited by Buyer pursuant to any terms of this, anyustments and prorations. TOTAL (earnest money + amount financed + loan assumption + cash balance at closing) $________________ EARNEST MONEY AND OTHER DEPOSITS If the holder of the Earnest Money is ney shall be returned to Buyer. 4. [ _________ / __________ ] Buyer will pay the balance of $______________ on or before the "Closing Date" (defined below) in cash or by cashier's check subject to adj lender's response to request for assumption by Buyer, cancel this Contract, or Buyer may elect to complete the purchase with alternate financing. In the event of cancellation by Buyer, any Earnest Moerms of the Mortgage Loan and without any fee. If any required consent cannot be obtained as set forth herein, then Buyer may, at Buyer's option by notice to Seller, within ten (10) days following theay the Mortgage Loan according to its terms. If the lender's consent to the assumption of the Mortgage Loan is required, this Contract is contingent upon obtaining such consent without change in the tper month, having an approximate present principal balance of $______________________, now of record in the offices of the county where the Property is located (the "Mortgage Loan"). Buyer agrees to p a first mortgage or deed of trust on the Property in favor of ____________________________________________ bearing interest at _______% per annum and payable as to principal and interest $__________ ny) is $____________ ("Finance Amount"). 3. [ _________ / __________ ]Buyer also assumes and agrees to pay, as a part of the Purchase Price, the balance owing upon a certain promissory note secured bydeposit is to be credited against the Purchase Price. 2. [ _________ / __________ ] The total amount to be financed by Buyer (not including financed mortgage insurance premiums, or closing costs, if a_________ / __________ ] Buyer shall pay an earnest money deposit ("Earnest Money") in the amount of $______________ to _____________________ ("Earnest Money Holder") upon signing this Contract. This ____________________________ (Excluded Items) PURCHASE PRICE The Purchase Price for the Property is: $___________________ (Purchase Price). PAYMENT (initial and fill out the one(s) that apply) 1. [ __________________________________________ __________________________________________________________________ __________________________________________________________________ __________________________________________________ (Included Items). The following items are specifically excluded from this contract and shall not be transferred to Buyer as a part of the Property: ________________________ilt-in kitchen appliances; and: __________________________________________________________________ _______________________________________________________________________ _____________________________; awnings; automated garage door openers and remote control units; keys; attached humidifiers; attached outside cooking units; attached fireplace screens and/or glass doors; attic and ceiling fans; bughting and light fixtures; plumbing equipment and fixtures; attached mirrors; linoleum; wall-to-wall carpet; window and porch shades; blinds; storm windows and doors; screens; curtain and drapery rodsumbrances, including: gas heaters; propane tanks (including propane if owned); central heating, ventilation and air conditioning equipment and fixtures; sump pumps; attached TV antennas and cables; liso include the following fixtures and personal property associated with the Property (unless specifically excluded below), all of which (if any) are owned by Seller free and clear of all liens and enc shall include all buildings and improvements on the property and all right, title and interest of Seller in and to adjacent streets, roads, alleys and rights-of-way. The sale of the Property shall al_______________________________________ __________________________________________________________________ o The legal description of the property is given in Attachment 1. The sale of the Property__________________________ (Common Description). o The legal description of the property is as follows: __________________________________________________________________ ___________________________monly known as: ____________________________ __________________________________________________________________ __________________________________________________________________ _____________________l be the date of signature by the later party to sign this Contract. PROPERTY TO BE SOLD Seller shall sell and Buyer shall buy the following property and the improvements thereon (the "Property") comract PARTIES This Residential Real Estate Sale Contract (the "Contract") is made by and between __________________________, ("Seller"), and ________________________, ("Buyer"). The Effective Date shald tax consequences of this Contract are fully explained and understood. An attorney should also be consulted whenever a document is negotiated with another party. 2 Residential Real Estate Sale Contot be used or signed without consulting an attorney first to make sure it fits your particular situation. You should also consult with an attorney and a tax professional to make sure that all legal anion and these forms are not intended as and are not a substitute for legal advice. Laws vary from time to time and from state to state. These forms should only be a starting point for you and should nmation can also be found on the EPA site at: http://www.epa.gov. Please note that the state where the property is located may also have its own laws and regulations regarding lead paint. This informatitled "Protect Your Family From Lead In Your Home." can be found at: http://www.epa.gov/opptintr/lead/pyfcameraeng.pdf and at http://www.hud.gov/offices/lead/outreach/leapame.pdf and. Additional inford-based paint and/or lead-based paint hazards in the dwelling. Buyers must also receive a federally approved pamphlet on lead poisoning 1 prevention. An Environmental Protection Agency's pamphlet ent pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnant women. Before selling pre-1978 housing, Sellers must disclose the presence of known lea you may want to check with a local agent or lender if the use of another form will create a problem. Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can approved forms that can be used to make the disclosure. Since this Contract may be a little different than the types of Real Estate Sale Contracts your local agents and lenders may be used to seeing, any mandatory disclosure laws, you can check with a local real estate broker or attorney, or call your state's attorney general's office. Most states with mandatory disclosure laws have created stateto make the disclosure, even if the property is sold "as is" If not required by law, a Buyer may still request the disclosures and try to make them part of the contract.. To find out if your state hasproblems. Check with a real estate agent or attorney in your area to determine what additional disclosures, if any, are required in your state. In some of these states, a seller may still be required act must be signed and returned before it expires. The law in some states require a seller to make additional written disclosures, including disclosures about the condition of the house and any known d presented as a formal offer. However, the seller may initiate the preparation of the contract as well. The contract allows the person making the offer to designate a time and date by which the contris agreement is for transactions that do not involve a Broker and where the Buyer is obtaining a new loan and/or assuming an existing loan. Generally, this type of contract is prepared by the buyer an owned by someone else). The Agreement provides for the traditional terms between a seller and buyer, including financing contingencies, surveys, pest and other inspections, title matters and more. Thess water rights (which may be important for oceanfront or lakefront property) or easements and rights of "ingress and egress" (i.e. when the property used to access the house (which is being sold) iser of a free-standing residential home. Another type of form is required for the sale of condominiums, cooperative apartments, farmland and other special kinds of property. This contract does not addritten agreement should be used to document the transaction and to set forth the terms between the Seller and the Buyer. The Residential Real Estate Sale Contract form can be used by a buyer and a selland use of these forms is subject to the Disclaimers and Terms of Use found at findlegalforms.com 2 Information Residential Real Estate Sale Contract Whenever any real estate property is sold, a wrre that all legal and tax consequences of this Contract are fully explained and understood. An attorney should also be consulted whenever a document is negotiated with another party. [_] The purchase ld not be used or signed without consulting an attorney first to make sure it fits your particular situation. The Buyer and the Seller should consult with an attorney and a tax professional to make suontract. 1 [_]These forms are not intended and are not a substitute for legal advice. Laws vary from time to time and from state to state. These forms should only be a starting point for you and shouyour area to determine what additional disclosures, if any, are required in your state or locality. If not required by law, a Buyer may still request the disclosures and try to make them part of the c disclosures and any other known problems. Some cities and other municipalities may also have specific disclosure requirements that need to be included.. Check with a real estate agent or attorney in included in similar agreements. The law in some states require a seller to make additional written disclosures, including disclosures about the condition of the house, the neighborhood, environmentalce under "Megan's Law" regarding the availability of a registered sex offenders database. This notice is included in this Agreement. [_] These forms contain the basic terms and language that should betion 2079.10a requires that every lease or rental agreement for residential real property and every contract for sale of residential real property comprising one to four dwelling units, contain a notiears as proof of compliance with the rules. A copy of the "Disclosure Of Information On Lead-Based Paint and/or LeadBased Paint Hazards" form is included in this package. [_] California Civil Code secnt and/or Lead-Based Paint Hazards". Federal law requires Seller to keep the signed copy of the "Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards" for a minimum of three y etc.) [_] If the property is built before 1978 property (i.e. pre-1978 property), federal law requires that Sellers and Buyers (and their Agents) sign the "Disclosure Of Information On Lead-Based Painatures of all parties. [_] The parties to the Contract must be aware of the various deadlines contained in the Contract, relating to various acts (i.e. obtaining financing, inspections, title mattersth parties, it creates a binding obligation to purchase the property. [_] Each party should sign two copies of the final draft of the contract. Each party should receive one copy with the original sigutes a formal offer. The contract allows the person making the offer to designate a time and date by which the contract must be signed and returned before it expires. Once the Contract is signed by boThis agreement is for transactions that do not involve a Broker and where the Buyer is obtaining a new loan and/or assuming an existing loan. [_] When signed by one party, this signed contract constitidential Real Estate Sale Contract; (3) Residential Real Estate Sale Contract (including Earnest Money Receipt); (4) Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards. [_] Instructions & Checklist California Residential Real Estate Sale Contract [_] This package contains (1) Instructions and Checklist for Residential Real Estate Sale Contract; (2) Information about Res California