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2018-078
1 2 3 4 5 6 7 8 9 10 11 12 13 14 151 16 17 18 19 20 21 22 23 24 25 26 27 r: RESOLUTION NO. 2018-78 RESOLUTION OF THE MAYOR AND CITY COUNCIL OF CITY OF SAN BERNARDINO, CALIFORNIA, ACTING AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS BETWEEN THE CITY ACTING AS SUCCESSOR AGENCY, BROTHER'S HOME TRADING CORPORATION, AND RAZIUH INVESTMENTS CORPORATION WITH RESPECT TO THE REAL PROPERTY LOCATED AT 207/207% EAST 10TH STREET, SAN BERNARDINO, CALIFORNIA (APN 0140-171-16), AND APPROVING CERTAIN RELATED ACTIONS WHEREAS, pursuant to Health and Safety Code (the "HSC") § 34172 (a) (1), Redevelopment Agency of the City of San Bernardino was dissolved on February 1, 2012; and WHEREAS, consistent with the provisions of the HSC, on January 9, 2012, the Mayor City Council of the City of San Bernardino elected to serve in the capacity of the Successor to the Redevelopment Agency of the City of San Bernardino (the "Successor Agency"); and WHEREAS, consistent with the provisions of the HSC, the Mayor and City Council of 1 City of San Bernardino previously elected to serve in the capacity of the Successor Housing to the Redevelopment Agency of the City of San Bernardino (the "Successor Housing Agency"); WHEREAS, the Oversight Board to the Successor Agency (the "Oversight Board") been established pursuant to HSC § 34179 to assist in the wind -down of the di redevelopment agency; and WHEREAS, pursuant to HSC § 34176 (a) (2), the Successor Housing Agency was to submit a Housing Asset Transfer form (the "HAT") to the California Department of Finance ( "DOF") that lists, among other things, all of the low- and moderate -income housing fund ( "LMIHF") real property assets, as more specifically defined in HSC § 34176 (e), to be retained the Successor Housing Agency; and WHEREAS, consistent with the foregoing, the Successor Housing Agency submitted i HAT to DOF for review and thereafter provided DOF with pertinent supplemental and back information that resulted in DOF's August 11, .2016 approval of the HAT, as amended "Amended HAT"); and 1 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 WHEREAS, the Amended HAT lists 141 parcels of land, one of which was sold in 201 leaving 140 parcels to either be retained for housing purposes or sold; and WHEREAS, as a part of its approval of the Amended HAT, DOF authorized 56 parcels be transferred by the Successor Agency to the Successor Housing Agency at no cost (which already occurred) and determined that 84 parcels are to be sold by the Successor Agency; 10 which were acquired after the State's dissolution of redevelopment agencies and 74 of wb constitute the "Arden -Guthrie" property that will ultimately be sold as a single site for commen development purposes; and WHEREAS, the City's Housing Division previously evaluated the 10 -HAT for sale and identified three (3) residentially zoned parcels that are not needed to be acquired for housing purposes and therefore are to be sold by the Successor Agency (the "3 -HAT for Parcels"), as more particularly described within Exhibit "A" to this Resolution; and WHEREAS, the subject of this Resolution concerns one of the Successor Agency's 3 -HA' for Sale Parcels described as: i) Site No. 1 within Exhibit "A"; ii) includes a 1,780 square foot housing unit located on an approximately 0.16 acres parcel; iii) is located at 207/207-% E. 10th San Bernardino, California (APN 0140-171-16) and iv) is zoned residential multi -family 1 ("RMH") (the "Property"); and WHEREAS, on March 6, 2017, the Successor Agency Board approved the origi Property Disposition Strategy, which among other things, authorized a competitive process would result in listing for sale of 18 real property sites with a real estate broker (two of which owned by the City of San Bernardino); and WHEREAS, on August 16, 2017, the Successor Agency Board approved the "Amended Property Disposition Strategy", which: i) reduced the number of real property sites to be listed with a real estate broker from 18 to 16 (one of which is owned by the City of San Bernardino); ii) provided for an alternate method of real property disposition for the two real property sites removed from the group to be listed with a real estate broker; iii) where applicable, provided a current status update on completed and pending real property transfers; and iv) established an Escrow and Title 2 1 2 3� 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Administrative Management Fee to allow the City to recover a portion of the cost of its with respect to the management of the sale of real property assets; and WHEREAS, consistent with the amended Property Disposition Strategy, on October 18 12017, the Successor Agency approved an Agreement with Keller Williams (the "KW to list and sell 15 real property sites of the Successor Agency, including the Property (the entered into a separate agreement with Keller Williams for its single real property site); and WHEREAS, as a part of the KW Agreement, KW is required to prepare of a Opinion of Value (the "BOV") for each property that is to be sold; and WHEREAS, based on past practice, the DOF has acknowledged that BOVs are an acceptable method and basis for confirming that the value of real property being sold is fair and reasonable; and WHEREAS, in response to the listing, KW received, thoroughly reviewed and vetted I offers to purchase the Property; and WHEREAS, on November 17, 2017, Brother's Home Trading Corporation and Razi Investments Corporation (the `BHTC/RIC") offered to purchase the Property for $131,000 ( "Purchase Price") (a copy of the offer is attached to this Resolution as Exhibit `B"); and WHEREAS, KW has confirmed that BHTC/RIC's purchase offer was the highest that BHTC/RIC is a credible buyer capable of purchasing the Property, and has recommended that Successor Agency consider BHTC/RIC's purchase offer; and WHEREAS, on December 28, 2017, KW submitted its BOV, indicating its opinion that the market value of the Property, is currently $114,406 (the `BOV Market Value"); and WHEREAS, in consideration that the Purchase Price exceeds the BOV Market Value 1$16,594 or 14.5%, it may be concluded that the purchase price offered by BHTC/RIC for the is fair and reasonable, as more fully described within the BOV, a copy of which is attached to Resolution as Exhibit "C"; and WHEREAS, once the Property is sold, the Successor Agency will transfer the net Purchase Price to the San Bernardino County Auditor -Controller that will in turn divide and pay over the net Purchase Price to the affected taxing entities in proportion to their respective shares of the 1 % general tax levy, which will include the City; and 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 WHEREAS, this Resolution will approve the Purchase and Sale Agreement and Joi Escrow Instructions (the "Purchase and Sale Agreement") between the Successor Agency BHTC/RIC with respect to the Property, a copy of which is attached to this Resolution as "D", and authorize certain related actions; and WHEREAS, consistent with the provisions of the HSC and the LRPMP, the effectiveness 1 of the Purchase and Sale Agreement is subject to the approval of the Oversight Board and the DOF; and WHEREAS, this Resolution has been reviewed with respect to applicability of I California Environmental Quality Act (the "CEQA"), the State CEQA Guidelines (California of Regulations, Title 14, § 15000 et seq., hereafter the "CEQA Guidelines"), and the City' environmental guidelines; and WHEREAS, this Resolution does not constitute a "project" for purposes of CEQA, as I term is defined by CEQA Guidelines § 15378, because this Resolution is an organizational administrative activity that will not result in a direct or indirect physical change in the per § 15378 (b) (5) of the CEQA Guidelines; and WHEREAS, all of the prerequisites with respect to the approval of this Resolution I been met. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN BERNARDINO, ACTING AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, AS FOLLOWS: SECTION 1. The foregoing recitals are true and correct and are a substantive part of thii Resolution. SECTION 2. The Purchase Price for the Property is determined to be fair and reasonable. SECTION 3. The Purchase and Sale Agreement for sale of the Property, attached hereto I Exhibit "D," is approved. SECTION 4. On behalf of the Successor Agency, the City Manager, in the capacity Executive Director of the Successor Agency, or designee, is authorized to execute the Purchase Sale Agreement and the grant deed, the form of which is attached to the Purchase and 4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Agreement, and to take such other actions and execute such other documents as are necessary to effectuate and close the purchase and sale of the Property and as may otherwise be required to fulfill the intent of this Resolution. SECTION 5. This Resolution is not a "project" for purposes of CEQA, as that term is defined by Guidelines § 15378, because this Resolution is an organizational or administrative activity that will not result in a direct or indirect physical change in the environment, per § 15378 (b) (5) of the Guidelines. SECTION 6. This Resolution shall take effect upon: i) its adoption and execution in the manner as required by the City's Municipal Code; ii) the approval of the Purchase and Sale Agreement by the Oversight Board; and iii) its review by the DOR I Wi 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 RESOLUTION OF THE MAYOR AND CITY COUNCIL OF CITY OF SAN BERNARDINO, CALIFORNIA, ACTING AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, CALIFORNIA, APPROVING THE PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS BETWEEN THE CITY ACTING AS SUCCESSOR AGENCY, BROTHER'S HOME TRADING CORPORATION, AND RAZIUH INVESTMENTS CORPORATION WITH RESPECT TO THE REAL PROPERTY LOCATED AT 207/2071/ EAST 10TH STREET, SAN BERNARDINO, CALIFORNIA (APN 0140-171-16), AND APPROVING CERTAIN RELATED ACTIONS I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the Mayor and City Council of the City of San Bernardino at a Joint Regular Meeting thereof, held on the 21" day of March 2018, by the following vote, to wit: Council Members: MARQUEZ BARRIOS VALDIVIA SHORETT NICKEL RICHARD MULVIHILL AYES NAYS Y Y(5) Y X x ABSTAIN ABSENT I � - Georgea�at� anna, CMC, City Clerk The foregoing Resolution is hereby approved this 21St day of March 2018. 1 Approved as to form: Gary D. Saenz, City Attorney By: C X. uarey ijavis, ia} City of San Beriardi 1 2 3 4 561 1 6 2 7 3 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 0140-171-16 0140-222-26 0145-171-11 Description of the 3 for Sale HAT Parcels 207/207-1/2 E. lou' St 839 N. Mountain View Ave 693/695 W. Evans St 7 0.16 0.17 0.15 EXHIBIT "A" 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 EXHIBIT «B" I Purchase Offer from Brother's Home Trading Corporation and Raziuh Investments Corporation November 17, 2017 (See Attachment) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 Broker's Opinion of Value Prepared by Keller Williams December 28, 2017 (See Attachment) w EXHIBIT "C" 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 EXHIBIT "D" I Purchase and Sale Agreement and Joint Escrow Instructions Between the Successor Agency to the Redevelopment Agency of the City of San Bernardino And Brother's Home Trading Corporation and Raziuh Investments Corporation (See Attachment) 10 CALIFORNIA ASSOCIATION ADDENDUM s OF REALTORSO (CA.R. Form ADM, Revised 12115) No. The following terms and conditions are hereby incorporated in and made a part of the; ❑ Purchase Agreement, ❑ Residential Lease or Month -to -Month Rental Agreement, ❑Transfer Disclosure Statement (Note: An amendment to the TOS may give the Buyer a fight to rescind), ❑ Other dated November 17, 2017 , on property known as 207 E 10th Street _San Bemardino, CA 92410 in which Brother's Home_ Trading Corearation, Raziuh Investments Corp is referred to as ("Buyerfrenanf) and _ is referred to as ("Seller/Landlord"). Bu era rees to purchase the subLect progeny In "ASIS" condition_, "NO WARRANTIES". The foregoing terms and conditions are hereby agreed to, and the undersigned acknowledge receipt of a copy of this document. Date Date Buyer/Tenant o,nerzo,as:aazs Selledl-andlord Brother's Home Trading Corporation Buyer/Tenant 01n61201e6:102D Seller/Landlord Raziuh Investments Corp ®1966-2015, 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 forms THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORSO (CA.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. This form Is made available to real estate professionals through an agreement with or purchase from the California Association of REALTORS®, It is not intended to identify the user as a REALTOR& REALTOR® is a registered collective membership mark which may be used only by members of the NATIONAL ASSOCIATION OF REALTORS® who subscribe to Its Code of Ethics. l Published and Distributed by: N REAL ESTATE BUSINESS SERVICES, INC. a subsidiary of the California Association of REALTORSO o e 525 South Virgil Avenue, Los Angeles, Cafifornia 90020 Reviewed by Date ADM REVISED 12115 (PAGE 1 OF 1) _ ADDENDUM ADM PAGE 1 OF 1 } Keller Wilkins Reagv,1473 Ford Street Ste 700 Redlands CA 92373 Phone: (928)848-8585 Fox; lora Fetaeadez Produced with zipFome by zipLogtx 16070 Fifteen Mile Road, Fraser, Michigan 48026 xmm jjyygaj ,= Brother's Home 'C A L I P O R N I A DISCLOSURE REGARDING ASSOCIATION REAL ESTATE AGENCY RELATIONSHIP OF R E A L T O R S O (Sailing Firm to Buyer) (As required by the Civil Code) (C.A.R. Form AD, Revised 12!14) ❑ (If checked) This form is being provided In connection with a transaction for a leasehold interest exceeding one year as per Civil Code section 2079.13(k) and (m). When you enter into a discussion with a real estate agent regarding a real estate transaction, you should from the outset understand what type of agency relationship or representation you wish to have with the agent In the transaction. SELLER'S AGENT A Sellers agent under a listing agreement with the Seller acts as the agent for the Seiler only. A Seller's agent. or a subagent of that agent has the following affirmative obligations: To the Seller: A Fiduciary duty of utmost care, Integrity, honesty and loyalty In dealings with the Seller. To the Buyer and the Seller. (a) Diligent exercise of reasonable skill and care in performance of the agent's duties. (b) A duty of honest and fair dealing and good faith. (c) A duty to disclose all fads known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the parties. An agent Is not obligated to reveal to either party any confidential information obtained from the other party that does not involve the affirmative duties set forth above. BUYER'S AGENT A selling agent can, with a Buyer's consent, agree to ad as agent for the Buyer only. In these situations, the agent is not the Seller's agent, even If by agreement the agent may receive compensation for services rendered, either In full or In part from the Seller. An agent acting only for a Buyer has the following affirmative obligations: To the Buyer. A fiduciary duty of utmost care, integrity, honesty and loyalty in dealings with the Buyer. To the Buyer and the Seller: (a) Diligent exercise of reasonable skill and care in performance of the agent's duties. (b) A duty of honest and fair dealing and good faith. (c) A duty to disclose all facts known to the agent materially affecting the value or desirability of the property that are not known to, or within the diligent attention and observation of, the parties. An agent is not obligated to reveal to either party any confidential Information obtained from the other party that does not involve the affirmative duties set forth above. AGENT REPRESENTING BOTH SELLER AND BUYER A real estate agent, either acting directly or through one or more associate licensees, can legally be the agent of both the Seller and the Buyer in a transaction, but only with the knowledge and consent of both the Seller and the Buyer. in a dual agency situation, the agent has the following affirmative obligations to both the Seller and the Buyer (a) A fiduciary duty of utmost care, integrity, honesty and loyalty in the dealings with either the Seller or the Buyer. (b) Other duties to the Seller and the Buyer as stated above in their respective sections. In representing both Seller and Buyer, the agent may not, without the express permission of the respective party, disclose to the other party that the Seller will accept a price less than the listing price or that the Buyer will pay a price greater than the price offered, The above duties of the agent In a real estate transaction do not relieve a Seller or Buyer from the responsibility to protect his or her own Interests. You should carefully read all agreements to assure that they adequately express your understanding of the transaction. A real estate agent is a person qualified to advise about real estate. If legal or tax advice Is desired, consult a competent professional. Throughout your real property transaction you may receive more than one disclosure form, depending upon the number of agents assisting in the transaction. The law requires each agent with whom you have more than a casual relationship to present you with this disclosure form, You should read Its contents each time It Is presented to you, considering the relationship between you and the real estate agent in your specific transaction. This disclosure form Includes the provisions of Sections 2079.13 to 2079.24, inclusive, of the Civil Code set forth on page 2. Read It carefully. UWE ACKNOWLEDGE RECEIPT OF A COPY OF THIS DISCLQ,S 'RE AND THE PORTIONS OF THE CiVIL CODE PRINTED ON THE BACK (OR A SEPARATE PAGE). W Buyer ❑ Seller ❑ Landlord❑ Tenant °"�� 'r Dam 1111e1zo170:43:13 5d Buyer ❑ Seller ❑ Landlord❑ Tenant Date 1111&2017OA83e ReVuh Investments Corp Agent _ .. ftMbem Realty inc. BRE Lie. # 01417409_.. . y Heth MOW Hi! al Estate Broker (Firm) B �9 �BRE Lie. # 41242139 Data 11/2512017 0:16:17 (Salesperson or Broker -Associate) Heath Michael Hllgenberg Agency Disclosure Compliance (Civil Code §2079.14): . When the listing brokerage company also represents Buyerrrenant: The Listing Agent shall have one AD form signed by Seller/Landlord and a different AD form signed by Buyer/Tenant. . When Seller/Landlord and Buyer/Tenant are represented by different brokerage companies: (1) the Listing Agent shall have one AD form signed by Seller/Landlord and (I) the BuyersManant's Agent shall have one AD form signed by Buyerfrenant and either that same or a different AD form presented to SellerfLandlord for signature prior to presentation of the offer. If the same form is used, Seller may sign here: Seller/Landlord Date Seller/Landlord Date .... ....... The copyright laws of the United States (Title 17 U.S. Code) forbid the unauthorized reproduction of this form, or any portion thereof, by photocopy machine or any other means, Including facsimile or computerized formats. C , Copyright 01991-2010, CALIFORNIA ASSOCIATION OF REALTORS®, INC. Reviewed by Date ALL RIGHTS RESERVED. — AD REVISED 12114 (PAGE 1 OF 2) _ DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIP (AD PAGE 1 OF Z Kdler Williams Really,1473 Ford Sired 8,a 200 Radiands CA 92373 Phone: (928A43-85115 Fac aroWdi Nwn CIVIL CODE SECTIONS 2079.24 (2079.16 APPEARS ON THE FRONT) 2079.13 As used In Sections 2079.14 to 2079.24, Inclusive, the following terms have the following meanings: (a} "Agent" means a person acting under provisions of Title 9 (commencing with Section 2295) In a real property transaction, and Includes a person who Is licensed as a real estate broker under Chapter 3 (commencing with Section 10130) of Part 1 of Division 4 of the Business and Professions Code, and under whose license a listing Is executed or an offer to purchase Is obtained, (b) 'Associate licensee" means a person who Is licensed as a real estate broker or salesperson under Chapter 3 (commencing with Section 10130) of Part 1 of Division 4 of the Business and Professions Code and who Is either licensed under a broker or has entered Into a written contract with a broker to act as the broker's agent in connection with ads requiring a real estate license and to function under the broker's supervision in the capacity of an associate licensee, The agent In the real property transaction bears responsibility for his or her associate licensees who perform as agents of the agenL When an associate licensee owes a duty to any principal, or to any buyer or seller who is not a principal, In a real property transaction, that duty Is equivalent to the duty owed to that party by the broker for whom the associate licensee functions. (c)'Buyer' means a transferee in a real property transaction, and Includes a person who executes an offer to purchase real property from a seller through an agent, or who seeks the services of an agent in more than a casual, transitory, or preliminary manner, with the object of entering Into a real property transaction. 'Buyer" includes vendee or lessee. (d) 'Commercial real property" means all real property In the state, except single-family residential real property, dwelling trmh made subject to Chapter 2 (commanding with Section 1940) of Title 5, moblishomes, as defined in Section 798.3, or recreational vehicles, as defined In Section 799.29. (e) "Dual agent" means an agent acting, elf rerdirectly or through an associate Hoertsae, as agent for both the seller and the buyer in a real property transaction. (f) "Listing agreement° means a contract between an owner of real property and an agent, by which the agent has been authorized to sell the real property or to find or obtain a buyer. (g) "Listing agent" means a penton who has obtained a listing of real property to ad as an agent for compensation. (h) "Listing price" Is the amount expressed In dollars specified In the listing for which the seller is willing to sell the real property through the listing agent (1) "Offering price" Is the amount expressed In dollars specified In an offer to purchase for which the buyer Is willing to buy the real property. 0) "Oyler to purchase" means a written contract executed by a buyer acting through a selling agent that becomes the contract for the sale of the real property upon acceptance by the sailer, (k) "Real property' means any estate specified by subdivision (1) or (2) of Section 761 In property that constitutes or Is Improved with one to four dwelling units, any commercial real property, any leasehold In these types of property exceeding one year's duration, and mobilehomes, when offered for sale or sold through an agent pursuant to the authority contained In Section 10131.8 of the Business and Professions Code. (1) "Real property transaction' means a transaction for the sale of real property in which an agent Is employed by one or more of the principals to act In that transaction, and Includes a Hating or an offer to purchase. (m)'Sell,' "sale,' or "sold' refers to a transaction for the transfer of real property from the seller to the buyer, and includes exchanges of real property between the seller and buyer, transactions for itis creation of a real property sales contract within the meaning of Section 2985, and transactions for the creation of a leasehold exceeding one year's duration (n)'Seller' means the transferor In a real property transection, and Includes an owner who lists real property with an agent, whether or not a transfer results, or who receives an offer to purchase real properly of which he or she Is the owner from an agent on behalf of another. "Seller" Includes both a vendor and a lessor, (o) "Selling agent' means a listing agent who ads alone, or an agent who ads In cooperation with a listing agent, and who sells or finds and obtains a buyer for the real property, or an agent who locates property for a buyer or who finds a buyer for a property for which no listing exists and presents an offer to purchase to the seller, (p) 'Subagent" means a person to whom an agent delegates agency powers as provided in Article 5 (commencing with Section 2349) of Chapter 1 of Title 9. However, "subagent" does not include an associate licensee who is acting under the supervision of an agent in a real property transaction. 2079.14 Listing agards and selling agents shall provide fie seder and buyer In a real property transaction with a copy of the disclosure form specified In Section 2079.16, and, except as provided In subdivision (c), shad obtain a signed acknowledgement of reoelpt from that sellar or buyer, except as provided In this section or Section 2079.15, as follows: (a) The Ilsting agent, If any, shall provide the disclosure form to the seller prior to entering into the Rating agreement ( b) The selling agent shad provide the disclosure form to the seller as soon as practicable prior to presenting the seller with an offer to purchase, unless the selling agent previously provided the seller with a copy of the disclosure form pursuant to subdivision (a). (c) Where the selling agent does not deal on a face-to-face basis with the seller, the disclosure forth prepared by the selling agent may be furnished to the seller (and acknowledgement of reoeipt obtained for the selling agent from the seller) by the Hating agert, or the selling agent may deliver the disclosure form by certified mail addressed to Ore seller at his or her last known address, in which case no signed acknowledgement of receipt Is required. (d) The selling agent shall provide the disclosure form to the buyer as soon as practicable prior to exaccrilon of the buyer's offer to purchase, except that if the offer to purchase is not prepared by the selling agent, the selling agent shall present the disclosure form to the buyer not later than the next business day after the selling agent receives the offer to purchase from the buyer. 2079.15 In any circumstance In which the seller or buyer refuses to sign an acknowledgement of recelpt pursuant to Section 2079.14, the agent, or an associate licensee acting for an agent, shall set forth, sign, and date a written declaration of the facts of the refusal. 2079.16 Reproduced on Page 1 of this AD fore. 2079.17 (a) As soon as practicable, the seyrrig spent shall disclose to the buyer and seller whether the selling agent Is acting In the real property transaction exclusively as the buyer's agent, exclusively as the sellers agent, or as a dual agent representing both the buyer and the seller, This relationship shad be confimied In the contract to purchase and sell real property or in a separate writing executed or adknoWedged by the seller, the buyer, and the selling agent prior to or coincident with execution of that contract by the buyer and the seller, respectivey. (b) As soon as practicable, the listing agent shad disclose to the seder whether the fisting agent is acting In the real property transaction exclusively as the seller's agent, or as a dual agent representing both the buyer and seder. This relationship shad be confirmed In the contract to purchase and eel real property or In a separate writing executed or acknowledged by the seder and the fisting agent prior to of coincident with the execution of that contract by the seller, (c) The confirmation required by subdivisions (a) and (b) shall be in the following form. (00 NOT COMPLETE. SAMPLE ONLY; Is the agent of (check one), ❑ the seller exclusively; or ❑ both the buyer and seller. (Name of listing Agent) _ is the agent of check one ❑ the buyer exclusive) or ❑ the seller exclusive or ADO NOT COMPLETE. SAMPLE ONL'* }_ 8 ( )� uY Y. y. (Name of Selling Agent If not the same as the Listing Agent) ❑ both the buyer and seller. (d) The disclosures and confirmation required by this section shad be In addition to the disclosure required by Section 2079.14. 2079.18 No selling agent in a real property transaction may act as an agent for the buyer only, when the selling agent is also acting as the listing agent In the transac kn. 2079.19 The payment of compensation or the obligation to pay compensation to an agent by the seller or buyer is not necessarily determinative of a particular agency relationship between an agent and the seller or buyer. A listing agent and a selling agent may agree to share any compensation or commission paid, or any right to any compensation or commission for which an obligation arises as the result of a real estate transaction, and the terms of any such agreement shall not necessarily be determinative of a particular relationship. 2079.20 Nothing in this article prevents an agent from selecting, as a condition of the agent's employment, a specific form of agency relationship not specifically prohlbited by this article If the requirements of Section 2079.14 and Section 2079.17 are complied with. Z079.21 A dual agent shall not disclose to the buyer that the seller Is willing to sell the property at a price less than the listing price, without the express written consent of the seller, A dual agent shall not disclose to the seller that the buyer Is willing to pay a price greater then the offering price, without tea express written consent of the buyer. This section does not alter in any way the duty or responsibility of a dual agent to any principal with respect to confidential Information other than price. 2079.22 Notting in this article precludes a listing agent from also being a selling agent, and the combination of these functions in one agent does not, of Itself, make that agent a dual agent. 2079.23 A contract between the principal and agent may be modified or altered to change the agency relationship at any time before the performance of the act which Is the object of the agency with the written consent of the parties to the agency relationship. 2079.24 Nothing In this article shall be construed to either diminish the duty of disclosure owed buyers and sellers by agents and their associate licensees, subagents, and employees or to relleve agents and their associate licensees, subagents, and employees from Ilability for their conduct In connection with acts governed by this article or for any breach of a fiduciary duty or a duty of disclosure. r Pt�llshed end Distributed by; M REAL ESTATE BUSINESS SERVICES, INC. a subsdoy of Nye Caftmia Assodagan ofRE4LTORSO Reviewed by Date f s 525 South Virall Avertu% Los Arigeles, Califomia 90020 AD REVISED 12114 (PAGE 2 OF 2) W- DISCLOSURE REGARDING REAL ESTATE AGENCY RELATIONSHIP (AD PAGE 2 OF 2) Produced with zoFafm®byzrpLogix 18070 Fifteen Mlle Road, Fraser, Michigan 4802a www.zbLoo .con Brather4 Home +11 - C A L I F O R N I A POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER 6 ASSOCIATION OR SELLER - DISCLOSURE AND CONSENT OF R E A L T O R S O (C.A.R. Form PROS, 11/14) A real estate broker (Broker), whether a corporation, partnership or sole proprietorship, may represent more than one buyer or seller. This multiple representation can occur through an Individual licensed as a broker or salesperson or through different individual broker's or salespersons (associate licensees) acting under the Broker's license. The associate licensees may be working out of the same or different office locations. Multiple Buyers: Broker (individually or through its associate licensees) may be working with many prospective buyers at the same time. These prospective buyers may have an interest in, and make offers on, the same properties. Some of these properties may be listed with Broker and some may not. Broker will not limit or restrict any particular buyer from making an offer on any particular property whether or not Broker represents other buyers interested in the same property. Multiple Sellers: Broker (individually or through its associate licensees) may have listings on many properties at the same time. As a result, Broker will attempt to find buyers for each of those listed properties. Some listed properties may appeal to the same prospective buyers. Some properties may attract more prospective buyers than others. Some of these prospective buyers may be represented by Broker and some may not. Broker will market all listed properties to all prospective buyers whether or not Broker has another or other listed properties that may appeal to the same prospective buyers. Dual Agency: If Seller is represented by Broker, Seller acknowledges that broker may represent prospective buyers of Seller's property and consents to Broker acting as a dual agent for both seller and buyer in that transaction, If Buyer is represented by Broker, buyer acknowledges that Broker may represent sellers of property that Buyer is interested in acquiring and consents to Broker acting as a dual agent for both buyer and seller with regard to that property, In the event of dual agency, seller and buyer agree that: (a) Broker, without the prior written consent of the Buyer, will not disclose to seller that the Buyer is willing to pay a price greater than the offered price; (b) Broker, without the prior written consent of the seller, will not disclose to the buyer that seller is willing to sell property at a price less than the listing price; and (c) other than as set forth in (a) and (b) above, a dual agent is obligated to disclose known facts materially affecting the value or desirability of the property to bath parties. Offers not necessarily confidential: Buyer is advised that seller or listing agent may disclose the existence, terms, or conditions of buyer's offer unless all parties and their agent have signed a written confidentiality agreement, Whether any such Information Is actually disclosed depends on many factors, such as current market conditions, the prevailing practice in the real estate community, the listing agent's marketing strategy and the instructions Of the seller. Buyer and seller understand that Broker may represent more than one buyer or more than one seller and even both buyer and seller on the same transaction and consents to such relationships. Seller and/or Buyer acknowledges reading and understanding this Possible Representation of More Than One Buyer or Seller - Disclosure and Consent and agrees to the agency possibilities disclosed. Seller Date Seller Date Buyer r . Brother's Home Trading Corporation Date 11JIWM17 o:49:13 Buyer _ - �Raziuh Investments Cor. Date iirlerlol7anem Rea TkE pk AMS' LTY CalBRE Lic # 0!904376 Date By L.• CaIBRE Lie # 02015587 Date LARA FERNANDEZ Rea}§ j0 ) alt It'tiy;, CaIBRE Lie # 01417409 Date B l /iYi� j `(f _... CaIBRE Lie # 01242739 Date i,rzo,iaia:s7 Y----- — — Heafh Michael Hilgenbertg ® 2054, California Association of REALTORS®, Inc. United States copydght law (Tice 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 facslmile 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, CONSULTAN APPROPRIATE PROFESSIONAL. This form Is made available to real estate professionals through an agreement with or purchase from the California Association of REALTORS. It Is not Intended to identify the user as a REALTORS. REALTORS Is a registered collective membership mark which may be used only by members of the NATIONAL ASSOCIATION OF REALTORSO who subscribe to Its Code of Ethics. Published and Distributed by: REAL ESTATE BUSINESS SERVICES, INC. " a subsidiary of the Cafrfomle Assodeftt of REALTORS® J526 South Virgil Avenue, Los Angeles, California 90020 Reviewed by Date..._ PRBS 11/14 (PAGE 1 OF 1) POSSIBLE REPRESENTATION OF MORE THAN ONE BUYER OR SELLER PRBS PAGE 1 OF 1 Keller Williams Really, 1473 Ford Street Ste M Redlands CA 92373 Phone: (9,U)MM555 Fax: &vther'sHoma Lara Fernandes Produced with zlpFormO by z*Loglx 16070 Fifteen We Road, Fraser, Mlehigan MOM CAL I F O PL N I A RESIDENTIAL INCOME PROPERTY PURCHASE ASSOCIATION o' OF R8 A LT O RS ® AGREEMENT AND JOINT ESCROW INSTRUCTIONS (C.A.R. Form RIPA, Revised 12116) Date Prepared: November f7 2017 1. OFFER: A. THIS vSdAN ual OFFEA FROM O ration, Brother's Home Tradln Cor:. ora_ tion Raziuh Investments Corn ("Buyer"). ❑ O ❑ po A Partnership, An LLC, L An LLP, Ofher B. THE REAL PROPERTY to be acquired Is _ 207 E 10th Street situated In San Bemardlno (City), San 13emard/no (County), CaIthmia, _ 82410 (ZlpCode),Assessor's Parcel No. 0140171160 (°Property), C. THE PURCHASE PRICE offered Is One Hundred Thirty -One Thousand Dollars $ 131000, 00 D. CLOSE OF ESCROW shall occur on (date) (or f5 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 KELLER tMLUAMS REALTY (Print Firm Name) is the agent of (check one); © the Seller exclusively; or both the Buyer and Seller. Selling Agent --_ Hil enber:: Realry Inc. (Print Firm Name) (if not the some as the Listing Agent) is the agent of (check one): k the Buyer exclusively; or the Seller exclusively; or❑ both the Buyer and Selier. C. POTENTIALLY COMPETING BUYERS AND SELLERS: The Parties each acknowledge receipt of a © "Potential 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 ...................... ..... ......... $ 10,000. (1) Buyer Direct Deposit: Buyer shall deliver deposit directly to Escrow Holder by electronic funds transfer, ❑ cashier's check, LJ personal check, ❑ other within 3 business days after Acceptance (or OR (2) [-1 Buyer Depositwr gen;:: uyewr as giveneposr by persona 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), ❑m assued financing (C.A.R. Form APA), subject tofinancing, ❑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 ban amount. (2) ❑SECOND LOAN in the amount of ..................... I .............................. $ This loan will be conventional financing orSeller financing (C.A.R. Form SFA), F1assumed financing (C.A.R. Form AFA); ❑ subject to finandng, oOther . This loan shall be at a foxed 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) FHAIVA: For any FHA or VA loan specified In 31)(1), Buyer has 17 (or _) Days After Acceptance to Deliver to Seller written notice (C.A.R. f=orm 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 FHAfVA amendatory clause (C.A.R. Form FVAC) shall be a part of this transaction. E. ADDITIONAL FINANCING TERMS: F. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of , , ........ .......... $ i2�000,Q0 to be deposited with Escrow Holder pursuant to Escrow Holder instructions. G. PURCHASE PRICE (TOTAL): ................. . ........................ . .... , .. , $ 131000.00 Buyer's Initials( ( 1?1Z) Sellers Initials 0 2015, California Association of REALTORS®, Inc. RIPA REVISED 12115 (PAGE 1 OF 11) 191s _RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT i RIPA__ PAGE 1 OF 11 Keller Williams Really, Ford Sheet Ste 200 Redlands CA 92373 — -- Phone: (M)84"585 Fac: ikother sgom Lan Fernandez Pmducsd with zrpFom§ by zipLo& 18070 Fifteen Mlle Road, Fraser, Mldilaan 46026 www.zlpLoabL, Property Address: 207E 10th Street, Sear Bemardino CA 92410 Date: November 17, 2047 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. (❑ Vedfication attached.) I. APPRAISAL CONTINGENCY AND REMOVAL: This Agreement is (or [M 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 196(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 Buyers lender or loan broker stating that, based on a review of Buyers 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 preapprovai 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. Buyers contractual obligations regarding deposit, balance of down payment and dosing costs are not contingencies of this Agreement. (3) LOAN CONTINGENCY REMOVAL: Within 21 (or _) Days After Acceptance, Buyer shall, as specified in paragraph 19, 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 obtaln the loan and as a result Buyer 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 Buyers lender. If the total credit allowed by Buyers lender ("Lender Allowable Credit°) Is less than the Contractual Credit, then (1) 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. (6) ASSUMED OR SUBJECT TO FINANCING: Seller represents that Seller Is not delinquent on any payments due on any loans. If the Property is acquired subject to an existing loan, Buyer and Seller are advised to consult with legal council regarding the ability of an existing lender to call the loan due, and the consequences thereof. K. BUYER STATED FINANCING: Seller is relying on Buyers 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 Buyers covenant concerning financing. Buyer shall pursue the financing specified in this Agreement. Seller has no obligation to cooperate with Buyers 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 obligatlon to purchase the Property and dose escrow as specified In this Agreement. 4. SALE OF BUYER'S PROPERTY: A. This Agreement and Buyers ability to obtain financing are NOT contingent upon the sale of any property owned by Buyer, OR B. ❑ This Agreement and Buyers 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. Foran ADM) U Back Up Offer Addendum (C.A.R. Form BUO) ;Court Confirmation Addendum (C.A.R. Foran CCA) i Septic, tlVe11 and Property Monument Addendum (C.A.R. Form SWPI) ❑ Short Sale Addendum (C.A.R. Form SSA) Ll Other B. BUYER AND SELLER ADVISORIES: Buyers Inspection Advisory (C.A.R. Form MA) Probate Advisory (C.A.R. Form PA) Statewide Buyer and Seller Advisory (C.A.R. Form SBSA) mt Trust Advisory (C.A.R. FOTA) REO Advisory (C.A.R. Form REO) [QShortSale 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 *K NHA:74.95 (2) —j Buyer L i Seller shall pay for the following Report _ prepared by (3) ❑ Buyer ❑ Seller shall pay for the following Report prepared by _........ Buyers Initials ( PJ?--/ Sellers Initials RIPA REVISED 12115 (PAGE 2 OF 11)'1: RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 2 OF 11) PmA rind wish vtnFnrm69 by svd neiv IArl7a Mftl Mile R—d F— UL -hl... AAMA . whd —dv.w" Property Address: 207 E 109h Street San 8emnardino, CA 92410 Date: November 1Z 20f7 B. GOVERNMENT REQUIREMENTS AND RETROFIT: (1) ❑ Buyer [M Seller shall pay for smoke alarm and carton 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 Seiler is exempt. (2) (I) ❑ Buyer © Seller shall pay the cost of compliance with any other minimum mandatory government inspections and reports iI required as a condition of dosing 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 19A, 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. (3) ❑ Buyer [g Seller shall pay for Installation of approved fire extinguisl*s), spdnkler(s), and hose(s), If required by Law, which shall be Installed prior to Close Of Escrow. Prior to Close Of Escrow, Seller shall provide Buyer a written statement of compliance, If required by Law. (4)E] Buyer ® Seller shall pay for installation of drain cover and anti -entrapment device or system for any pool or spa meeting the minimum requirements permitted by the U.S. Consumer Products and Safety Commission. C. ESCROW AND TITLE: (1) (a) R Buyer ® Seller shall pay escrow fee EACH TO PAY THEIR OWN HALF (b) Escrow Holder shall be (c) The Parties shall, within b (or_) Days After receipt, sign and return Escrow Holders general provisions. (2) (a) ❑ Buyer [R Seiler shall pay for owners title insurance policy specified in paragraph 18E (b) Owners 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 [R 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. (6) ❑ Buyer ❑ Seller shall pay HOA fees for preparing all documents other than those required by Civil Code §4525. (B) Buyer to ay for any HOA certification fee. (7) Buyer Seller shall pay for any private transfer fee (8) �1Buyer Seller shall pay for (9) 7 Buyer Seller shall pay for (10)LI Buyer Seller shall pay for the cost, not to exceed $ of standard L� upgraded one- year home warranty Ian, Issued by , with the following optional coverages: LJAirConditioner PooUSpaLOther Buyer is informed that home warranty plans have many optional coverages in addition to those listed above. Buyer is advised fo investigate these coverages to determine those that may be suitable for Buyer. OR© Buyer waives the purchase of a home warranty policy. Nothing In this paragraph precludes Buyeds purchasing Ahome warranty policy during the term of the Agreement. 1. 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 8B, C or D. B. ITEMS INCLUDED IN SALE: (1) All EXISTING Mures 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, tress/shrubs, water features and fountains, water softeners, water purifiers and security systems/alarms, (3) Seller represents that all Items included in the purchase price, unless otherwise specified, are owned by Seller, except (1) and (11) the items and systems identified pursuant to 8B(4). (4) LEASED OR LIENED ITEMS AND SYSTEMS: Seller shall, within the time specified in paragraph 19A, (1) disclose to Buyer If any item or system specified In paragraph 813 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 ail written materials (such as lease, warranty, etc,) concerning any such item. Buyers 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 19B and C. (6) Except as otherwise specified or disclosed, all items included shall be transferred free and clear of liens and encumbrances and without Seller warranty regardless of value. (6) A complete inventory of all personal property of Seller currently used in the operation of the Property and included In the purchase price shall be delivered to Buyer within the time specified In paragraph 19. (7) Seller shall deliver title to the personal property by Bill of Sale, free of all liens and encumbrances, and without warranty of condition. (8) As additional security for any note In favor of Seller for any part of the purchase price, Buyer shall execute a UCC -1 Financing Statement to be filed with the Secretary of State, covering the personal property included in the purchase, replacement thereof, and Insurance proceeds. C. ITEMS EXCLUDED FROM SALE: D. OTHER ITEMS: Existing integrated phone and home automation systems, Including necessary components such as intranet and Intemet-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, Buyer's Initials ( V--/ 1( kV--) Sallers Initials ( - (_ k RIPA REVISED 12116 (PAGE 3 OF 11) RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT IRIPA PAGE 3 OF 111 Gwomm Property Address: 207 E 10th Street. San Bernardino, CA 92410 Date: November 17 2017 9. SECURITY DEPOSITS: Security deposits, If any, to the extent they have not been applied by Seller in accordance with any rental agreement and current Law, shall be transferred to Buyer on Close Of Escrow. Seller shall notify each tenant, in compliance with the California Civil Code, 10. CLOSING AND POSSESSION: A. Buyer intends (or ❑ does not intend) to occupy any unit in 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 (ill) ❑ at _LJ AM/If PM on C. Seller Remaining in Possession After Close Of Escrow: If Seller has the right to remain in possession after Close Of Escrow, (1) the Parties are advised to sign a separate occupancy agreement such as ❑ C.A.R. Form SIP, for Seller continued occupancy of less than 30days, ❑ 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 units: Possession and occupancy, subject to the rights of tenants under existing leases, shall be delivered to Buyer on Close Of Escrow. E. At Close Of Escrow: (1) Seller assigns to Buyer any assignable warranty rights for Items included In the sale; and (11) 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. 11. STATUTORY AND OTHER DISCLOSURES (INCLUDING LEAD-BASED PAINT HAZARD DISCLOSURES) AND CANCELLATION RIGHTS: A. LEAD-BASED PAINT HAZARD DISCLOSURES: (1) Seller shall, within the time specified in paragraph 19, deliver to Buyer, If required by Law, Federal Lead-Based Paint Disclosures and pamphlet ('Lead Disclosures"). If the Lead Disclosures are 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. (Lead Disclosures sent by mail must be sent certified mail or better.) (2) Buyer shall, within the time specified in paragraph 19, return a Signed Copy of the Lead Disclosure to Seller. B. NATURAL AND ENVIRONMENTAL HAZARDS: Within the time specified In paragraph 19, Seller shall, if required by Law, (i) deliver to Buyer earthquake guides (and questionnaire) and environmental hazards booklet; and (ii) even if exempt from the obllgatlon to provide a NHD, 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; Seismic Hazard Zone: and (Ili) disclose any other zone as required by Law and provide any other Information required for those zones. C. WITHHOLDING TAXES: Within the time specified in paragraph 19A, 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 speclfled registered sex offenders is made available to the public via an Internet Web site maintained by the Department of Justice at www.meganslow.ca.gov. Depending on an offenders 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 to check this website. If Buyer wants further information, Broker recommends that Buyer obtain Information from this website during Buyers 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:/lwww.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. CONDOMINIUMIPLANNED DEVELOPMENT DISCLOSURES: (1) SELLER HAS: 7 (or _) Days After Acceptance to disclose to Buyer whether the Property is a condominium, or is located in a planned development or other common Interest subdivislon (C.A.R. Form SPQ or ESD). (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): (1) Copies of any documents required by Law; (11) disclosure of any pending or anticipated claim or litigation by or against the HOA; (lit) 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, "Cl Disclosures'). Seller shall Itemize and Deliver to Buyer all Cl Disclosures received from the HOA and any Cl Disclosures in Seller's possession. Buyers approval of Cl Disclosures is a contingency of this Agreement as specified in paragraph 19B(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. 12. RESIDENTIAL 1-4 PROPERTIES: A. Seller shall, within the time specified in paragraph 19A, Deliver to Buyer: (1) if required by Law, a fully completed: Federal Lead-Based Paint Disclosures (C.A.R. Form FLD) and pamphlet ("Lead Disclosures"); and (ti) unless exempt, fully completed disclosures or notices required by sections 1102 at. seq. and 1103 at. 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). B. 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 Disdosu R. Form AVID). Nothing stated herein relieves a Buyer's Broker, If any, from the obligation to (1) Buyer's Initials Sellers Initials { (d RIPA REVISED 12!15 (PAGE 4 OF 11) RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 4 OF 11) Property Address: 207 E 10th Street, San Bernardino, CA 92410 hate: November 17 2017 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. C. Note to Buyer and Seller: Waiver of Statutory and Lead Disclosures Is prohibited by Law. D. Within the time specified In paragraph 19A, (1) Seller, unless exempt from the obligation to provide a TDS, shall, within the time specified in paragraph 19A, complete and provide Buyer with a Seller Property Questionnaire (C.A.R. Form SPQ) (ti) if Seller is not required to provide a TDS, Seller shall complete and provide Buyer with a Exempt Seller Disclosure (C.A.R, Form ESD). E. Buyer shall, within the time specified in paragraph 196(1), return Signed Copies of the Statutory, Lead and other disclosures to Seiler. F. 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. G. If any disclosure or notice specified in paragraph 12A, 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. 13. SELLER DOCUMENTATION AND ADDITIONAL DISCLOSURE: Within the time specified In paragraph 19, Seller shall disclose, make avallable or Deliver, as applicable, to Buyer the following information. A. RENTALISERViCE AGREEMENTS: Seller shall make available to Buyer for inspection and review; (1) all current leases, rental agreements, service contracts, and other agreements pertaining to the operation of the Property; (11) a rental statement Including names of tenants, rental rates, period of rental, date of last rent Increase, security deposits, rental concessions, rebates or other benefits, if any, and a list of delinquent rents and their duration. Seller represents that no tenant is entitled to any rebate, concession, or other benefit, except as set forth in these documents. Seller represents that the documents to be fumished are those maintained in the ordinary and normal course of business. B. INCOME AND EXPENSE STATEMENTS: Seller shall make available to Buyer the books and records for the Property, including a statement of income and expense for the 12 months preceding Acceptance. Seller represents that the books and records are those maintained in the ordinary and normal course of business, and used by Seller in the computation of federal and state income tax returns, C. r� TENANT ESTOPPEL CERTIFICATES: (If checked) Seller shall Deliver to Buyer tenant estoppel certificates (C,A.R. Form TEC) completed by Seller or Seller's agent, and signed by tenants, acknowledging: (1) that tenants' rental or lease agreements are unmodified and in full force and effect (or if modified, stating all such modifications); (11) that no lessor defaults exist; and (III) stating the amount of any prepaid rent or security deposit. D. SURVEY, PLANS, AND ENGINEERING DOCUMENTS: Seller shall, at no cost to Buyer, Deliver to Buyer Coples of surveys, plans, specifications, and engineering documents, If any, prepared on Seller's behalf or in Seller's possession. E. PERMITS: If in Seller's possession, Seller shall Deliver to Buyer Copies of all permits and approvals concerning the Property, obtained from any governmental entity, Including, but not limited to, certificates of occupancy, conditional use permits, development plans, and licenses and permits pertaining to the operation of the Property. F. STRUCTURAL MODIFICATIONS: Seller shall disclose to Buyer in writing any known structural additions or alterations to, or the Installation, alteration, repair or replacement of, significant components of the structure(s) upon the Property. G. SELLER REPRESENTATION: Seller represents that Seller' has no actual' knowledge; (i) of any current pending lawsuit(s), investigation(s), Inquiry(ies), actilon(s), or other proceedings) affecting the Property or the right -to use and occupy it; (11) of any unsatisfied mechanic's or materialman lien(s) affecting the Property; and (iii) that any tenant of the Property is the subject of a bankruptcy. If Seller receives any such notice prior to Close Of Escrow, Seller shall Immediately notify Buyer. H. GOVERNMENTAL COMPLIANCE: (1) Seller shall disclose to Buyer any improvements, additions, alterations, or repairs to the Property made by Seller, or known to Seller to have been made, without required governmental permits, final inspections, and approvals. (2) Seller shall disclose to Buyer if Seller has actual knowledge of any notice of violations of Law filed or Issued against the Property. 14. SUBSEQUENT DISCLOSURES: In the event Seller, 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 Deliver 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. 16. CHANGES DURING ESCROW. A. Prior to Close Of Escrow, Seller may engage In the following acts ("Proposed Changes"), subject to Buyers rights in paragraph 1513: (1) rent or lease any vacant unit or other part of the premises; (II) alter, modify or extend any existing rental or lease agreement; (fit) enter into, alter, modify or extend any service contract(s); or (iv) change the status of the condition of the Property, B. (1) At least 7 (or ) Days Prior to any Proposed Changes, Seller shall Deliver written notice to Buyer of such Proposed Changes. (2) Within 5 (or __) Days After receipt of such notice, Buyer, in writing, may give Seller notice of Buyer's objection to the Proposed Changes In which case Seller shall not make the Proposed Changes. 16. CONDITION OF PROPERTY: Unless otherwise agreed in writing: (1) 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; (11) the Property, Including pool, spa, landscaping and grounds, is to be maintained in substantially the same condition as on the date of Acceptance; and (Ili) 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 19A; (i) DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting the Property, including known insurance claims within the past five years, (ii) disclose the number of units on the Property which have been legally approved, if known by Seller and (111) 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 19B, based upon information discovered in those investigations: (1) 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 acco in t code, In compliance with current Law, or have had permits issued. Buyer's initials ( h1J�/ ( Seller's Initials RIPA REVISED 12115 (PAGE 5 OF 11) RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT rRIPA PAGE 6 OF 111 Property Address: 207 E 10th Sheet San Bernardino CA 924f0 Date: November 17, 204.7 17. BUYER'S INVESTIGATION OF PROPERTY AND MATTERS AFFECTING PROPERTY: A. Buyers acceptance of the condition of, and any other matter affecting the Property, is a contingency of this Agreement as specified in this paragraph and paragraph 19B. Within the time specified in paragraph 198(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, the right to: (1) Inspect for lead-based paint and other lead-based paint hazards; (11) Inspect 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 Inciude 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); (111) review the registered sex offender database; (iv) confirm the insurability of Buyer and the Property including the availability and cost of flood and fire insurance; (v) review and seek approval of leases that may need to be assumed by Buyer; and (vi) satisfy Buyer as to any matter specified In the attached Buyer's inspection Advisory (C.A.R. Form BiA). Without Seller's prior written consent, Buyer shall neither make nor cause to be made: (t) invasive or destructive Buyer Investigations except for minimally invasive testing required to prepare a Pest Control Report; or (ti) 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 (1) as specified in paragraph 19B, complete Buyer Investigations and either remove the contingency or cancel this Agreement, and (11) 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: (1) keep the Property free and dear of liens; (11) 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 cant', or Buyer shall require anyone acting on Buyer's behalf to cavy, 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 "Notloe 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. 18. TITLE AND VESTING: A. Within the time specified In paragraph 19, 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 1913. 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: (t) 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 (it) those matters which Seller has agreed to remove in writing. C. Within the time specified in paragraph 19A, 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 shell 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. E. Buyer shall receive a Standard Coverage Owner's CLTA policy of title insurance. An ALTA policy or the addition of endorsements may provide greater coverage for Buyer. A title company, at Buyer's request, can provide information about the availability, desirability, coverage, and cost of various title insurance coverages and endorsements. If Buyer desires title coverage other than that required by this paragraph, Buyer shall instruct Escrow holder in writing and shall pay any increase in cost. 19. 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 5A, 6, 7, 86(4), 11A, B, C, and F, 12A and D, 13, 16A, and 18A. Buyer after first Delivering to Seller a Notice to Seller to Perform (C.A.R. Form NSP) may cancel this Agreement if Seller has not Delivered the items within the time specified. B. (1) BUYER HAS: 17 (or `) Days After Acceptance, unless otherwise agreed in writing, to: (1) complete all Buyer Investigations; review all disclosures, reports, lease documents to be assumed by Buyer pursuant to paragraph 8B(4) and other applicable information, which Buyer receives from Seiler, 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 12A. (2) Within the time specified in paragraph 1913(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 196(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 19A, then Buyer has 5 (or _ ) Days After Delivery of any such items, or the time specified in paragraph 196(1), whichever is later, to Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement. Buyer's Initials ( "-- ( I?le'- Seller's Initials 'C RiPA REVISED 12/15 (PAGE 6 OF 11) RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 6 OF 111 Property Address: 207 E 10th Street Sar: Bernardino, CA 92410 Date: November 17 2017 (4) Continuation of Contingency: Even after the end of the time specified in paragraph 196(1) and before Seiler cancels, If at all, pursuant to paragraph 19C, Buyer retains the right, in writing, to either (1) 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 19C(1). C. 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 (CA.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 the Buyer a NBP, may canoe[ this Agreement If, by the time specified In this Agreement. Buyer does not take the following actlon(s): (1) Deposit funds as required by paragraph 3A or 3B or If the funds deposited pursuant to paragraph 3A or 313 are not good when deposited; (Ii) Deliver a notice of FHA or VA costs or terms as required by paragraph 31)(3) (C.A.R. Form FVA); (111) Deliver a letter as required by paragraph 3J(1); (iv) Deliver verification as required by paragraph 3C or 3H or If Seller reasonably disapproves of the verification provided by paragraph 3C or 31-1; (v) In writing assume or accept leases or liens specified in 884; (vi) Return Statutory and Lead Disclosures as required by paragraph 11A(2) and 12E, or (vil) Sign or initial a separate liquidated damages form for an Increased deposit as required by paragraphs 3B and 306; or (viii) Provide evidence of authority to sign in a representative capacity as specified in paragraph 28. In such event, Seller shall authorize the return of Buyer's deposit, except for fees Incurred by Buyer. D. NOTICE TO BUYER OR SELLER TO PERFORM: The NBP or NSP shall: (t) be in writing; (it) be signed by the applicable Buyer or Seller; and (111) 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 19. E. 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: (1) 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 (ill) assumed all liability, responsibility and expense for Repairs or corrections pertaining to that contingency or cancellation right, or for the inability to obtain financing. F. 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 (CA.R. Form DCE). The DCE shall: (i) be signed by the applicable Buyer or Seller, and (11) give the other Party at least 3 (or ) Days After Delivery to close escrow. A DCE may not be Delivered any earlier then 3 Days Prior to the scheduled dose of escrow. G. EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation pursuant to rights duly exercised under the terns of this Agreement, the Parties agree to Sign mutual Instructions to canoe[ the sale and escrow and release deposits, if any, to the party entitled to the funds, leas 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 falls 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 §1067.3). 20. REPAIRS: Repairs shall be completed prior to final verification of condition unless otherwise agreed In writing. Repairs to be performed at Sellers 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: (1) obtain invoices and paid receipts for Repairs perforated by others; (11) prepare a written statement indicating the Repairs performed by Seller and the date of such Repairs; and (111) provide Copies of invoices and paid receipts and statements to Buyer prior to final verification of condition. 21. ENVIRONMENTAL_ HAZARD CONSULTATION: Buyer and Seller acknowledge: (I) Federal, state, and local legislation impose liability upon existing and former owners and users of real property, In applicable situations, for certain legislatively defined, environmentally hazardous substances; (11) Broker(s) has/have made no representation concerning the applicability of any such Law to this transaction or to Buyer or to Seller, except as otherwise indicated In this Agreement; (lit) Broker(s) has/have made no representation concerning the existence, testing, discovery, location and evaluation of/for, and risks posed by, environmentally hazardous substances, if any, located on or potentially affecting the Property; and (iv) Buyer and Seller are each advised to consult with technical and legal experts concerning the existence, testing, discovery, location and evaluation of/for, and risks posed by, environmentally hazardous substances, if any, located on or potentially affecting the Property. 22. AMERICANS WITH DISABILITIES ACT: The Americans With Disabilities Act (ADA!) prohibits discrimination against individuals with disabilities. The ADA affects almost all commercial facilities and public accommodations, Residential properties are not typically covered by the ADA, but may be governed by its provisions if used for certain purposes. The ADA can require, among other things, that buildings be made readily accessible to the disabled. Different requirements apply to new construction, alterations to existing buildings, and removal of barriers in existing buildings. Compliance with the ADA may require significant costs. Monetary and injunctive remedies may be incurred If the Property is not in compliance. A real estate broker does not have the technical expertise to determine whether a building is in compliance with ADA requirements, or to advise a principal on those requirements. Buyer and Seller are advised to contact an attorney, contractor, architect, engineer or other qualified professional of Buyer or Seller's own choosing to determine to what degree, If any, the ADA impacts that principal or this transaction. Buyer's Initials ( FtZ-1_}( . L..) Seller's Initials RIPA REVISED 12115 (PAGE 7 OF 11) M RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 7 OF 11) Property Address: 207 B 10th Street. San Bemardrno, CA 92410 Date: November 17. 2017 23. FINAL VERIFICATION OF CONDITION: Buyer shall have the right to make a final verification of the Property within 6 (or _)Days Prior to Close Of Escrow, NOT AS A CONTINGENCY OF THE SALE, but solely to confine: (1) the Property is maintained pursuant to paragraph 16; (II) Repairs have been completed as agreed; and (111) Seller has complied with Seller's other obligations under this Agreement (C.A.R. Form VP). 24. PRORATION$ 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 bilis shall be paid as follows: (1) for periods after Close Of Escrow, by Buyer; and (ti) 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 -fay month. ' 26. SUCCESSORS AND ASSIGNS: This Agreement shall be binding upon, and Inure to the benefit of, Buyer and Seller and their respective successors and assigns, except as otherwise provided herein, 26. COPIES: Seller and Buyer each represent that Copies of all reports, documents, certificates, approvals and other documents that are furnished to the other are true, correct and unaltered Copies of the original documents, If the originals are in the possession of the furnishing party. 27. BROKERS: A. COMPENSATION: Seller or Buyer, or both, as applicable, agrees to pay compensation to Broker as specified in a separate written agreement between Broker and that Seller or Buyer. Compensation Is payable upon Close Of Escrow, or if escrow does not dose, 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. (1) 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; (vll) Shall not be responsible for identifying the location of boundary lines or other items affecting title; (vill) 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 (A) 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. C. BROKERAGE: Neither Buyer nor Seller has utilized the services of, or for any other reason owes compensation to, a licensed real estate broker (individual or corporate), agent, finder, or other entity, other than as specified in this Agreement, In connection with any act relating to the Property, including, but not limited to, inquiries, introductions, consultations and negotiations leading to this Agreement, Buyer and Seller each agree to indemnity and hold the other, the Brokers specified herein and their agents, harmless from and against any costs, expenses or liability for compensation claimed inconsistent with the warranty and representation in this paragraph. 28. REPRESENTATIVE CAPACITY: If one or more Parties is signing the Agreement in a representative capacity and not for himlherself as an Individual then that Party shall so indicate In paragraph 40 or 41 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 the 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 (1) 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). 29. 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, 9, 11C, 18, 19G, 24, 27A, 28, 29, 35, 38, 39, 40, 41 and paragraph D of the section titled Real Estate Brokers on page 11. If a Copy of the separate compensation agreement(s) provided for in paragraph 27A, or paragraph D of the section titled Real Estate Brokers on page 11 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 oontrol as to the duties and obligations of Escrow Holder only. Buyer and Seller will execute additional instructions, documents and fortes provided by Escrow Holder that are reasonably necessary to dose the escrow and, as directed by Escrow Halder, shall pay to Escrow Holder or HOA or HOA management company or others any fee required by paragraphs 7, 11 or elsewhere in the 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 11 C, Escrow Holder shall deliver to Buyer a Qualified Substitute statement that complies with federal Law. Buyer's Initials ( AZ-' ( kli�, Seller's Initials RIPA REVISED 12116 (PAGE 8 OF 11) RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 8 OF 11) Property Address: 207 E 10th Street San Bernardino, -CA 82410 Date: November 17 2017 C. Brokers are a party to the escrow for the sole purpose of compensation pursuant to paragraph 27A and paragraph D of the section titled Real Estate Brokers on page 11. Buyer and Seiler irrevocably assign to Brokers compensation specified in paragraph 27A, 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 Brokers) 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: (1) 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 (11) 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 Halder is responsible shall be delivered to Escrow Holder within 3 Days After mutual execution of the amendment. 30. 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 Buyers default, Seller shall retain, as liquidated damages, the deposit actually paid. If the Property Is a dwelling with no more than four units, one of which Buyer Intends to occupy, then the amount retained shall be no more than 3% of the purchase price. Any excess shall be returned to Buyer. Release of funds will require mutual, Signed release Instructions from both Buyer and Seller, judicial decision or arbitration award. AT TiME OF 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 / 31. 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. Consumer Mediation Center (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 (1) 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 31C. 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 6 years of transactional 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 §1283.015. 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 arbitrators) 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 31C. "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 InitialsrVZ--/ lklL Seller's Initials ! C. ADDITIONAL MEDIATION AND ARBITRATION TERMS: (1) EXCLUSIONS: The following matters are excluded from mediation and arbitration: (1) 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; (11) an unlawful detainer action; and (ill) any matter that is within the jurisdiction of a probate, small claims or bankruptcy court. (2) PRESERVATION OF ACTIONS: The following shall not constitute a waiver nor violation of the mediation and arbitration provisions: (t) the filing of a court action to preserve a statute of limitations; (11) 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 (111) the filing of a mechanic's lien. Buyer's Initials ( _P�&( 1?:rr- Seller's Initials ( ( C RIPA REVISED 12116 (PAGE 9 OF 11) RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 9 OF 11) Property Address: 207 E 10th Streel, San Sernardlno, CA 92410 Date: November 17, 2017 (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 the Agreement. 32. 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. 33. 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. 34. 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 attorneys fees and costs from the non -prevailing Buyer or Seller, except as provided in paragraph 31A, 36. ASSIGNMENT: Buyer shall not assign all or any part of Buyer's interest in this Agreement without first having obtained the written consent of Seller. Such consent shall not be unreasonably withheld unless otherwise agreed in writing. Any total or partial assignment shall not relieve Buyer of Buyer's obligations pursuant to this AgreemeDt•unless otherwise agreed In wiring by Seller (C.A.R. Form AOAA), 36. EQUAL HOUSING OPPORTUNITY: The Property is sold in compliance with federal, state and local anti -discrimination Laws. 37. 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 initiated 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. Buyer has read and acknowledges receipt of a Copy of the offer and agrees 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. 38. 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. 39, 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. Foran" means the most current version of the specific form referenced or another comparable form agreed to by the parties. D. "Close Of Escrow" or "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 pages 1, regardless of the method used (i.e., messenger, mall, 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. 40. 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 AW -PM, on (date)). ❑ One or more Buyers is signing the 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 to Date 11/18/2017 0:43:16UYER (Print name) Brother's Hon re,Tradl Date BUYER (Print name) Razfuh investments Cory ❑Additional Signature Addendum attached (C.A.R. Form ASA). Sellers initials RIPA REVISED 12115 (PAGE 10 OF 11) up" Ho -14 RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 10 OF 11) Pm.h-4 with v1,=^r..weihv sin, r. , IM7n C,Nue W - Oro., — I—'--- -.... 1-1-1--1-.wr Property Address: 207 E fOth Sheet San Bernardino CA 92410 Date: November 17 2017 41. 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, and agrees to the above confirmation of agency relationships. Seller has read and acknowledges receipt of a Copy of this Agreement, and authorizes Broker to Deliver a Signed 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 the 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 agentwhether 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. Re*&"1#*1g1k%" F ) Hilgenberg Realty Inc. CalBRE Lie. #01417409 By Heath Michael HihoonbCalBRE Lie. # 01242139 Date tt/25M01ro:11s:tI By CaIBRE Lie. # _ Date Address 70005 Mirage Cove Dr. Cl Rancho Mira_qe State CA Zip 92270 Telephone Fax E-mail heath.hiigenberg a mail.com Reqe&"*�"Fir KELLER WILLIAMS REALTY CalBRE Lic. #0.1904376 By LARA FERNANDEZ CaIBRE Lie. # 02015587 Date _ _ 11118rari79:60;13 By_ CaIBRE Lie. # Date Address 1473 FORD STREET STE 200 CityREDLANDS State CA Zip 92373 Telephone X848-8585 Fax {909}793.8200 E-mail larafernandez5kw.cam 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 29 of this Agreement, any supplemental escrow instructions and the terms of Escrow Holder's general provisions. Escrow Holder is advised that the data 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: (BrokerListing Broker presented this offer to Seiler on (data). I or Designee Initials '� REJECTION OF OFFER: C ) No counter offer is being made. This offer was rejected by Seller on Sellers Initials (date). 02014, Celifomia Association of REALTORSO, Inc. United States copyright law (Title 17 U.S. Code) forbids the unauthorized distribution, dh0ay and reproduction of this form, or any portion thereof, by photocopy machine crony 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: Buyers Acknowledge that page 11 Is pan of this Agreement ( w REAL ESTATE BUSINESS SERVICES, INC. a subsldtary of the CALIFORNIA ASSOCIATION OF REALTORS® 1525 South Virgil Avenue, Los Angeles, California 00020 Reviewed by RIPA REVISED 12115 (PAGE 11 OF 11) Broker or Designee RESIDENTIAL INCOME PROPERTY PURCHASE AGREEMENT (RIPA PAGE 11 OF 11) I CALIFORNIA ASSOCIATION BUYER'S INSPECTION ADVISORY OF R E A L T O R S O (C.A.R. Form SIA, Revised 11114) Property Address: 207 E 90th Street: San Bernardino, CA 92410 ("Property"), 1. IMPORTANCE OF PROPERTY INVESTIGATION: The physical condition of the land and Improvements being purchased is not guaranteed by either Seller or Brokers. You have an affirmative duty to exercise reasonable care to protect yourself, including discovery of the legal, practical and technical Implications of disclosed facts, and the investigation and verification of information and facts that you know or that are within your diligent attention and observation. A general physical inspection typically does not cover all aspects of the Property nor items affecting the Property that are not physically located on the Property. If the professionals recommend further investigations, including a recommendation by a pest control operator to Inspect inaccessible areas of the Property, you should contact qualified experts to conduct such additional investigations. 2. BROKER OBLIGATIONS: Brokers do not have expertise in all areas and therefore cannot advise you on many items, such as those listed below. If Broker gives you referrals to professionals, Broker does not guarantee their performance. 3. YOU ARE STRONGLY ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF ALL ASPECTS OF THE PROPERTY, INCLUDING BUT NOT LIMIITED TO THE FOLLOWING. IF YOU DO NOT DO SO, YOU ARE ACTING AGAINST THE ADVICE OF BROKERS. A. GENERAL CONDITION OF THE PROPERTY, ITS SYSTEMS AND COMPONENTS: Foundation, roof (condition, age, leaks, useful life), plumbing, heating, air conditioning, electrical, mechanical, security, poollspa (cracks, leaks, operation), other structural and nonstructural systems and components, fixtures, built-in appliances, any personal property Included in the sale, and energy efficiency of the Property. B. SQUARE FOOTAGE, AGE, BOUNDARIES: Square footage, room dimensions, lot size, age of improvements and boundaries. Any numerical statements regarding these items are APPROXIMATIONS ONLY and have not been verified by Seller and cannot be verified by Brokers. Fences, hedges, walls, retaining walls and other barriers or markers do not necessarily identify true Property boundaries. C. WOOD DESTROYING PESTS: Presence of, or conditions likely to lead to the presence of wood destroying pests and organisms. D. SOIL STABILITY: Existence of fill or compacted soil, expansive or contracting soil, susceptibility to slippage, settling or movement, and the adequacy of drainage. E. WATER AND UTILITIES; WELL SYSTEMS AND COMPONENTS;WASTE DISPOSAL: Water and utility availability, use restrictions and costs. Water quality, adequacy, condition, and performance of well systems and components. The type, size, adequacy, capacity and condition of sewer and septic systems and components, connection to sewer, and applicable fees. F. ENVIRONMENTAL HAZARDS: Potential environmental hazards, including, but not limited to, asbestos, lead-based paint and other lead contamination, radon, methane, other gases, fuel oil or chemical storage tanks, contaminated soil or water, hazardous waste, waste disposal sites, electromagnetic fields, nuclear sources, and other substances, materials, products, or conditions (including mold (airborne, toxic or otherwise), fungus or similar contaminants). G. EARTHQUAKES AND FLOODING: Susceptibility of the Property to earthquake/seismic hazards and propensity of the Property to flood, H. FIRE, HAZARD AND OTHER INSURANCE: The availability and cost of necessary or desired insurance may vary. The location of the Property in a seismic, flood or fire hazard zone, and other conditions, such as the age of the Property and the claims history of the Property and Buyer, may affect the availability and need for certain types of insurance. Buyer should explore insurance options early as this information may affect other decisions, Including the removal of loan and Inspection contingencies. I. BUILDING PERMITS, ZONING AND GOVERNMENTAL REQUIREMENTS: Permits, inspections, certificates, zoning, other governmental limitations, restrictions, and requirements affecting the current or future use of the Property, its development or size, J. RENTAL PROPERTY RESTRICTIONS: Some cities and counties impose restrictions that limit the amount of rent that can be charged, the maximum number of occupants, and the right of a landlord to terminate a tenancy. Deadbolt or other locks and security systems for doors and windows, including window bars, should be examined to determine whether they satisfy legal requirements. K. SECURITY AND SAFETY: State and local Law may require the installation of barriers, access alarms, self -latching mechanisms and/or other measures to decrease the risk to children and other persons of existing swimming pools and hot tubs, as well as various fire safety and other measures concerning other features of the Property. L. NEIGHBORHOOD, AREA, SUBDIVISION CONDITIONS; PERSONAL FACTORS: Neighborhood or area conditions, including schools, law enforcement, crime statistics, registered felons or offender's, fire protection, other government services, availability, adequacy and cost of Internet connections or other technology services and installations, commercial, industrial or agricultural activities, existing and proposed transportation, construction and development that may affect noise, view, or traffic, airport noise, noise or odor from any source, wild and domestic animals, other nuisances, hazards, or circumstances, protected species, wetland properties, botanical diseases, historic or other governmentally protected sites or improvements, cemeteries, facilities and condition of common areas of common interest subdivisions, and possible lack of compliance with any governing documents or Homeowners' Association requirements, conditions and influences of significance to certain cultures and/or religions, and personal needs, requirements and preferences of Buyer. By signing below, Buyers acknowledge that they have read, understand, B d to full accept and have received a Copy of this Advisory. uyera are encourage realey. ka.z� =�e���, Carp Buyer "ti=y 11/18/20170:43:13 Buyer -- -- — Brofhers Home Trading Corporation Razluh investments Corp @� 1111 81201 7 0:48:38 ® 1981-2004, California Association of REALTORS®, Inc. THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORSO (CA.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. 11 Published and Distributed by: REAL ESTATE BUSINESS SERVICES, INC. " a subsfdlary of the CalUornla Assoc/ation of REALTORS® e 1528 SmM Virgil Avenue, Los Angeles, Callfomia 90020 Reviewed by Date iB1A REVISED 11114 (PAGE 1 OF 1) BUYER'S INSPECTION ADVISORY(BIA PAGE 1 OF 1 NOW Wlltlamr Realty, 1473 Ford Street Me 200 Redlands CA 92373 Phone; (926)818.8585 Lara Feraandez Produced wfth zlPForm® by zlpLo0x 10070 Fifteen Mlle Road. Freser, Wften'48028 www.zlnLeek oign Fax: E77MLMN10G Brmhcry Home _. 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 PREPARED FOR: Ms. Lisa Connor Project Manager Successor Agency to the Redevelopment Agency of the City of San Bernardino 290 N. "D" Street - 3rd Floor San Bernardino, CA 92401 FOR THE PROPERTY LOCATED AT: 207/207 - 1/2 E. 10th Street San Bernardino, CA 92410 APN: 0140-171-16 DECEMBER 28' , 2017 COMMERCIAL KW COMMERCIAL Vr rr PATIERSON —'ri AS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373 909.793.2100 909.478.4517 kenpcommercial�gmail.com dreynoldson@kwcommercial.com BRE #01456022 We obtained the hformatlon above from swroes we bdkrm to be reliable. However, wa have not vwMed Its ac twV and make no guarantee. warranty or repwsentalbn abold lt. It Is submltlad al)Jeot to the poesibpty of emore. miaelons, drange of prba, rental or oam condmons, pto sae, We or fmargtg, or wandmwel YVZW rotice. Wo hckde proJeclions. opkfan, aamsnpllons or esUmates Tor exerWe any, and OW may not represent current or fAre pedomrance of The property. You arta your to and legal advlaors shwa`°nA1.1y "0;;inves1�on fth.perryendtr wn. rww.kwcommercial.com 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 December 28- , 2017 Ms. Lisa Connor Project Manager Successor Agency to the Redevelopment Agency of the City of San Bernardino 290 N "D" Street — 3rd Floor San Bernardino, California 92401 RE: Broker Opinion of Value for Site No. 47 -- APN 0140-171-16 Dear Ms. Connor: f COMMB�CIAL We have prepared the following report regarding our opinion of value for the above referenced property. We utilized a comparable sales approach to determine our opinion of value for this property. The subject property is zoned Residential Urban ("RU"), which allows for multi -family houses, consists of one parcel of land approximately 0. 16 acres (6,800 SF), and is improved with a 2 -unit 1,780 -SF duplex that was constructed in 1924. The duplex has been vandalized from floor to roof. The duplex will require all new electrical, plumbing, roof, interior, HVAC, and appliances. Comparable Sales As further described within this report, within the last 4 months, there have been 3 property sales which can be used as sale comparables for the Site. The comparables are all zoned RU, each contains a 2 -unit duplex that was constructed between 1947 - 1953. The Sale Comparable dates run from August 2017 to December 2017. The Sale Comparables are summarized below: KW COMMERCIAL Kr*'"LILTH PATTERSON „r^, en nrvsr{v nc. 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373808.793.2100 909.478.4517 kenpcommercial@gmail.corn dreynoldson@kwcommercial.com BRE #01456022 We olotahsd the irdomwIlon above from soutoss we bellem Ito be relb ble. Homwer, we have not willed its ecmnwf and make no guarsntes, wsrrsrdy or mpreswTtatlon about It. It is subnitted eubJect to the possb1hy of afros, ombslare, dfenge of price, tardd or other corrdAlms, prior sale, Ieaes or finencN, or WiAalewal wMhorrt nogoe. We kvAxle pro*H" opWons, assuroU" or eaftades for exerlmle a*. mai fhey may not represent calami or future pedwnw= of ft properly. You and your tax and legal edvbars ` — — should canZ your own Irweffiigsbon of the propsny mrd W saaion. rww.kwcom merclal.com 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 COMMERCIAL Sale Comparables Summary Valuation Anally sis Property Value Prior to Rehabilitation Costs Based on the foregoing, the average price per square foot of the three duplex Sale Comparable is $141.52. Applying this average price per the square foot to the square footage of the Site's duplex (1,780 SF), a value of $251,905.60 results. Based on this value, if the property had not suffered severe damage and vandalism, it is reasonable to conclude that the Site could sell for $251,000, based on the average per square foot price of the Sale Comparables (1,780 SF x $141.52/SF = $251,905.60). Rehabilitation Costs As a result of the vandalism that the property has incurred over the past, the Successor Agency obtained a cost of renovation estimate from AllWest Development Company, Inc. ("AllWest"), a third -party licensed contractor familiar with San Bernardino construction costs, to determine how the "rehabilitation off -set" the value of the subject property. A summary of AliWest's cost estimate is as follows: KW COMMERCIAL KF"'"1R'H PATTERSON ni mi Ae ecvmni ncntd 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793.2100 909.478.4517 kenpcommercial@gmail.com dreynoldson@kwcommercial.com BRE #01458022 We obtared the bdomre8on above from sources we believe to be rdleble. However, we have not ved6ed Ns accuracy and male fro 6uarardee, vmTafty or representetlon about R. k h erdmttted subJeci to the poe9g716iy Of mors. omfeslorys, f#ww of Price. rerdd or athw condith-M Prior sab, lame or OrenciV err vdlhdvNW vvktW ndce. we kldude projectlwn, opVdm% asarfptlorns or des for www* only. and they may not represa6 cunad or hdtae pedorname orthe properly. You and your tat and legal advisors should oorrdurd your own Wastigallon of the property and trarmatlarn. www.kwcommercial.com Unit I Year Lot Size Duplex Last Sale I Bldg $f APiV Address Sale Dabs Built SF SF Value SF 2071207-112 Property Site 0140-171-16 2 1924 6,800 SF 1,780 10th St_ Sale Comparable 0146-182-03 2 1463 Wall Ave 1947 5,000 SF 1,500 $212,000 $141.33 10/2/2017 Sale 151 W. Wabash Comparable 0146-193-26 2 1953 6,300 1,738 $238,000 $136.54 8/16/2017 St #2 Sale Comparable 0146-121-12 2 236 E. 16th St 1948 8,400 SF 1,610 $235,500 $146 12122/2017 #3 Average Bldg OF $141.52 Valuation Anally sis Property Value Prior to Rehabilitation Costs Based on the foregoing, the average price per square foot of the three duplex Sale Comparable is $141.52. Applying this average price per the square foot to the square footage of the Site's duplex (1,780 SF), a value of $251,905.60 results. Based on this value, if the property had not suffered severe damage and vandalism, it is reasonable to conclude that the Site could sell for $251,000, based on the average per square foot price of the Sale Comparables (1,780 SF x $141.52/SF = $251,905.60). Rehabilitation Costs As a result of the vandalism that the property has incurred over the past, the Successor Agency obtained a cost of renovation estimate from AllWest Development Company, Inc. ("AllWest"), a third -party licensed contractor familiar with San Bernardino construction costs, to determine how the "rehabilitation off -set" the value of the subject property. A summary of AliWest's cost estimate is as follows: KW COMMERCIAL KF"'"1R'H PATTERSON ni mi Ae ecvmni ncntd 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793.2100 909.478.4517 kenpcommercial@gmail.com dreynoldson@kwcommercial.com BRE #01458022 We obtared the bdomre8on above from sources we believe to be rdleble. However, we have not ved6ed Ns accuracy and male fro 6uarardee, vmTafty or representetlon about R. k h erdmttted subJeci to the poe9g716iy Of mors. omfeslorys, f#ww of Price. rerdd or athw condith-M Prior sab, lame or OrenciV err vdlhdvNW vvktW ndce. we kldude projectlwn, opVdm% asarfptlorns or des for www* only. and they may not represa6 cunad or hdtae pedorname orthe properly. You and your tat and legal advisors should oorrdurd your own Wastigallon of the property and trarmatlarn. www.kwcommercial.com I Permits & Fees 2,400 i Termite Treatment 3,500 Concrete Slabs 2,500 Replace Walkways Stucco Repairs 1,500 Patch as needed/Paint Budget for Exterior Columns 1,200 Roofing 8,500 Insulation 2,150 See Specs Weatherstripping 500 Drywall 8,500 Finish Carpentry 4,850 i Hardware 1,780 Windows/Screens 1,500 Replace Broken and Screens Garage Doors 1,350 Two (2) Doors Garage Dr. Openers 600 Four (4) Openers Plumbing 8,900 See Specs Fiberglass Tubs 2,900 Electrical 6,500 See Specs Structured Wiring 1,300 Light Fixtures 1,800 HVAC 15,000 HVAC - Title 24 Testing 700 Appliances 4,210 Cabinets 11,000 Marble 4,200 Ceramic Tile 2,850 Flooring/FP Faces 4,850 Mirrors 800 Shower Enclosures 1,300 Painting 7,500 Clean-up 1,200 Move -in Clean 750 Landscape 3,500 Super/Overhead 8,000 Profit/Fee 8% 10,247.2 Total Rehab Costs $138,337.20 Price Per Square Foot $83.94 45 Days 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 Based on the above estimate by A11West, it is their opinion that the estimated cost of mitigating the damage and the vandalism on the Site is approximately $138,500. Broker Opinion of Value Based on the foregoing, it is our opinion that the subject property is worth $113,405.60 which is the value of subject property based on Sale Comparables, minus the estimated cost of mitigating the damage evident on the Site ($251,905.60 - $138,500 = $113,405.60). We appreciate the opportunity to prepare this report. Please do not hesitate to call with any questions. Sincerely, Kenneth Patterson BRE# 00774852 1473 Ford St. #200 Redlands, CA 92373 951-318-8516 kenpcommercial@gmail.com KW COMMERCIAL ""'TH PATTERSON DOUGLAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 82373909.478.4517 909.793.2100 dreynoidson@kwcommercial.com kenpcommeraalOgmail.corn BRE 901456022 We obtained the hforrnation above tram sources we bdava to be reliable. Hammer. we rave not vetted Its accuracy and make no Guarantee, warranty or repremnlirdon about A. a Is submittedsubject to the paaMblity of errors, arnlsalons, change of pdm, rental or otrer cmntlilons, prior sale, lease or tiWl*g, or wihdraea VdMmA nadM We irdude iums, propopona. opassumptions or asttrnates for exempla a*. and they may not represent d vert or future performance of the property. You and your ten and legal addeom should conduct your own hveatlgallon of the property end transactlon. www.kwcommercial.com TABLE OF CONTENTS 25 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 COMMERCIAL TABLE OF CONTENTS Broker's Opinion of Value • Property Profile • Location Aerial • Assessor's Parcel Maps Location Map Comparable Sales. Comparable #1 • Property Profile • Assessor's Parcel Map Aerial Comparable #2 • Property Profile Assessor's Parcel Map • Aerial Comparable #3 • Property Profile • Assessor's Parcel Map • Aerial Leading Broker's Resume KW COMMERCIAL Vc"t"trTH PATTERSON ^^ — — n—ini rams 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373 909.793.2100 909.4711.4517 kenpcommerclal�gmall.com dreynoldson@kwcommercial.com BRE #01456022 We obtehed the hfommdw above from sources we belave to be reiabla Haweva, are have not variPed Its aorLreay and malas m guarantee, vianenty ar representation about It, tt Is submitted aubjW to the posslblity of errors, omisslons, d1ange of price, ramal or other eondlfforrs, prior eat-, lease or thatch%. or wfthdrawal w thmA rathe. We holuds projeWons, ophkna, saswumptions or esthrates for example ony, and ow may not represent smart orfuture pertormarne of the property. You and your tax and lapel adVL= ahculd conduct your own mestgation of the property and trensaZon. �,nnrw.icwcommercial.com 207 E 10th St, San Bernardino, CA 92410-4412, San Bernardino County Owner Information Owner Name: Mail Owner Name: Tax Billing Address: Tax Billing City & State: Location Information Zip Code: Carrier Route: School District: Comm College District Code: '-n APN : Tax Area: Tax Appraisal Area Legal Description: Assessment Sit Tax Multiple Building Property Summary 5 1,780 6,600 $80,000 MLS Beds MLS Sq Ft I Lot Sq Ft MLS List Price 2 1924 SFR 11/03/2011 MLS Baths Yr Built Type Sale Date Successor Agency/Rda City Of Tax Billing Zip: 92401 San Bdn Successor Agency/Rda City Of Tax Billing Zip+4: 1520 San Bdn 201 N E St 0301 Owner Occupied: No San Bernardino, CA Bank Owned * Pending Listing t 92410 Census Tract: 56.00 C004 Topography: Flat/Level San Bernardino Neighborhood Code: 092-092 San Bernardino Vly 3 0140-171-16-0000 Lot: 25 7012 Block: B 12 Water Tax Dist: San Bernardino Viy 3 WALNUT PARK LOT 25 BLK B Assessment Year 2016 2015 Assessed Value Total 111 303 $109 631 ..................................................................................................... Assessed Value Land $21,221 0.. Z..9.. 022-- .... .......... ...................... ............... $ , ..................................................................................................................................................................... Assessed Value -Improved $90,082 .................................. $88,729 YOY Assessed Change ($) $1,672 ....................................................................................................................................................................................................... YOY Assessed Change (%) ......I............................................................................................................................................................................................... 1.53% Tax Year Total Tax Change ($) Change 2014 1,414 ...................... .......I ...... 2015 ..... ................................. $1,454 ........................................................................__............................. ................................. $4Q 2.8596 ........................................................................................................................................................................................................................................................... 2016 ......................................................................................................................................................................................................................................................................... $1,575 $122 8.37% Special Assessment Tax Amount Sb Valley Muni Wtr Dbt Svc $180.86 .............................................................................................................I....................... School Bonds $88.48 ................................................................................................................................. San Bdno Comm College Bond ................ $38.95 ................................................. ..... I.......... .......... ........ . Co Ventor Control $5.62 ................... ............Assessmen..ts . Total Of Special ................. ..................................................................................................................................... $462.4..........4.................................................... Characteristics County Land Use: 2 Single Family Res Fireplaces: 1 Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The property Detail accuracy of the data contained herein can be Independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 1 of 4 Universal Land Use Lot Frontage: Lot Depth: Lot Acres: Lot Area: Style: Building Sq Ft: Gross Area: Stories: Total Rooms: Bedrooms: Total Baths: MLS Total Baths: Full Baths: Other Rooms: Estimated Value RealAVMTM (1): RealAVMTm Range: Value As Of: SFR Condition: Average 50 Water: Public 136 Sewer: Public Service 0.1561 Heat Type: Central 61800 Coaling Type: Refrigeration Conventional Roof Material: Composition Shingle 1,780 Construction Type: Frame 2,160 Year Built: 1924 1 Effective Year Built: 1941 10 Other Impvs: Porch 5 Porch: Patio/Porch 2 Porch 1 Area: 180 2 Porch Type: Patio/Porch 2 # of Buildings: 2 Family Room $0 $102,763 Confidence Score (2): 82 $91,459 - $114,067 Forecast Standard Deviation (3): 11 12/14/2017 (1) RealAVM" is a Core Logic® derived value and should not be used in lieu of an appraisal. (2)The Confidence Score is a measure of the extent to which sales data, property Information, and comparable sales support the property valuation analysis process. The confidence score range is 60 - 100. Clear and consistent quality and quantity of data drive higher confidence scores while lower confidence scores indicate diversity in data, lower quality and quantity of data, and/or limited similarity of the subject property to comparable sales. (3)The FSD denotes confidence in an AVM estimate and uses a consistent scale and meanin to generate a standardized confidence metric. The FSD is a statistic that measures the likely range or dispersion an AVM estimate will fall within, based on the consistency of the information available to the AVM at the time of estimation. The FSD can be used to create confidence that the true value has a statistical degree of certainty. Listing Information MLS Listing Number: MLS Status: MLS Area: MLS Status Change Date: EV17257491 Pending 274 - SAN BERNARDINO 11/29/2017 MLS Current List Price: MLS Original List Price: MLS Listing Agent: MLS Listing Broker: $80,000 $80,000 Evfernlar-Lara Fernandez KELLER WILLIAMS REALTY MLS Listing # Ev17251245 682847280 E11157317 Y803321 I432444 .............................................. MLS Status Withdrawn ............................... Pending .........................................................................................-........................................... Closed Expired Closed MLS Listing Date 10/18/2017 ..................................._.................................................................................................................................... .0/18/2017 12/06/2011 05/05/2008 11/15/2004 MLS Listing Price .........$80,000 .............................$80,000.............................$114,900...........................$250,000...........................$299,900.......................... Y .........................I........................................................................................................................................._..........................................._........................................... Buyer Name MLS Orig Llsting $54,000 $80,000 $114,900 $250,000 Price Solutions Of S Trust Fund Damaris ......................................................................................................................................................................................................................................................... Seller Name ..........................t........................................................................................................................................................................................................................................._ MLS Close Date US Bank Na 2005-3 Recontrust Co Na 03J09/2012 AI-Hawash Murad I 03/11/2005 ......................................................................................................................................................................................................................................................................... MLS Listing Close $0 $104,900 $300,000 Price MLS fisting Cancellation Date 11/13/2017 11/24/2017 12/06/2011 03/05/2009 03/11/2005 Last Market Sale & Sales History Recording Date: 03/12/2012 Sale Type: Sale Date: 11/03/2011 Deed Type: Sale Price: $105,000 Owner Name: Price Per Square Feet: $58.99 Seller: Document Number: 95540 $105,000 Full Grant Deed Successor Agency/Rda City Of San Bdn US Bank Na 2005-3 Recording Date 02/29/2016 03/12/2012 03/11/2005 03/19/2004 Sale Date 02/23/2016 i ................................. it 03/2011 -08/08/2011 07/21/2011 01/04/2005 02/26/2004 ...................................................................................................................................................................................................11................................. Sale Price $105,000 $94,500 $300,000 Nominal Y Y .........................I........................................................................................................................................._..........................................._........................................... Buyer Name Redevelopment Agcy Of Affordable Housing US Bank Na 2005-3 Sanchez Apolinar & AI-Hawash Mariana F San Bernard Solutions Of S Trust Fund Damaris ......................................................................................................................................................................................................................................................... Seller Name Affordable Hsng Solutions Of San US Bank Na 2005-3 Recontrust Co Na AI-Hawash Mariana F AI-Hawash Murad I Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report Is compiled by CoreLogic From public and private sources. The data Is deemed reliable, but is not guaranteed. The property Detail accuracy of the data contained herein can be independently verlfied by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 2 of 4 Document Number 76522 95540 332919 171598 189496 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Document Type ........................................................................................................................................................................................................................................................................ Quit Claim Deed Grant Deed Trustee's Deed Grant Deed interspousal Deed Transfer Recording Date 03/19/2004 06/05/2003 05/20/2003 ......................................... Sale Date j................................................................................... 10/20/2003 06/04/2003 fi7i�iidbj ............ 03/24/2003 Sale Price $170,000 ..................................................................................................................................................................................................... Final ]udgment Amount $278,418 Nominal ............................................................................................_........--_.._........._........._.... Y .. ..................... Buyer Name ................................................,................................................................................ AI ,Hawash Mariana F Street Inc Humphrey Abrelia M Seller Name Street Inc -A 207E 10th Street Trust Humphrey Arthur P Document Number ............................................................................... 189495 376678 6..... ................ ............. - 334618 Document Type ................................................................................................................... GrantDeed GrantDeed Affidavit .................................... Mortgage History Mortgage Date 11/02/2006 03/11/2005 03/19/2004 ...... Mortgage Amount ....................................................................................................................._.._.__................................................... $240,000 $161,500 Mortgage Lender . .....0 nk Of America Gateway Bk Fsb ....................................................._....................................._..................................................................................._.. Mortgage Store Fin'I Inc_....._. Mortgage Code ............................................................ Conventional ........................................................................................._...........................__.....__................_..................................................__. Conventional Conventional Foreclosure History Document Type Notice Of Trustee's Sale Notice Of Default . ........................ .............................................. Default Date ..................... ................ .... ....... .... .......................................i ................... 05/24/2010 ............................................... Foreclosure Fiiing Date ib.............................---........_...................................................................... 07/12/Z010 05/24/2010 ................................................................................... Recording Date ib........................................... 09/01/2010 ............................................. 05/26/2010 Document Number 357309 208858 Default Amount ! $39,826 ..................................................................................................................................................................................................... Final ]udgment Amount $278,418 ...............................fi..................................................................................................................... Original Doc Date 03/11/2005 .......................... .................. 03/11/2005 Original Document Number ....... 171599 171599 Property Map St ,_49' � 137' 137' 49' E 10th St live St F_ 25 vards� i to ian9 a 24t7 fdi msaf. Corpori"mn g 24t7 HERE! !s bi%a1h St (1) kL i Dimensions are Estimated Building 1 of 2 6 Temple St Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report is compiled by Corelogic from public and private sources. The data Is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or munidpality. E Ofanga St m E 11th St E Olive St w a' E 90th St 3 L5 i a E 9th st 0 m 3 z �0 yards . C 2417 Ubwsalt Cw0waisba 49 2417 HERE Property Detail Generated on 12/28/2017 Page 3 of 4 Characteristics County Land Use: 2 Single Family Res Fireplaces: 1 Universal Land Use: SFR Condition: Average Lot Frontage: 50 Water: Public Lot Depth: 136 Sewer: Public Service Lot Acres: 0.1561 Heat Type: Central Lot Area: 6,800 Cooling Type: Refrigeration Style: Conventional Roof Material: Composition Shingle Building Scl Ft: 1,220 Construction Type: Frame Gross Area: 2,160 Year Built: 1924 Stories: 1 Effective Year Built: 1941 Total Rooms: 7 Other Impvs: Porch Bedrooms: 4 Porch: Patio/Porch Total Baths: 1 Porch 1 Area: 180 Other Rooms: Family Room Porch Type: Patio/Porch Building 2 of 2 Characteristics County Land Use: 2 Single Family Res Total Baths: 1 Universal Land Use: SFR Water: Public Lot Frontage: 50 Sewer: Public Service Lot Depth: 136 Heat Type: Furnace Lot Acres: 0.1561 Cooling Type: None Lot Area: 6,800 Garage Type: Attached Garage Style: Conventional Garage Sq Ft: 380 Building Sq Ft: 560 Parking Type: Attached Frame Garage Gross Area: 2,160 Roof Material: Tile Stories: 1 Construction Type: Frame Total Rooms: 3 Year Built: 1947 Bedrooms: 1 Effective Year Built: 1947 Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The property Detail accuracy of the data contained herein can be Independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 4 of 4 TAX MAP �s — tl` — 0 207 & 20T1 /2 E. 10th Street, San Bernardino, CA 92410 0 mCrlaq---f3i8i3--------------------�ly'A---I a 1 r Iit'If O N u•ar N O 1 O N r 4 � oN 'o ® C I i O N w Q I � N O I Oy _ I N O S I I i+ O w r N I N $ © S R O ~ a to oN 'o ® C _ ® N . N O N w O N r r`-^- w ® O N ® I I ON O I Ow ^ I 1%P � N O I Oy _ I N I O M O I ® in I L , O M O I 1� I a e n m O i O M m O I IOro 1 rrt (�J I Q n I I I I o M ® I I /O� n X.ii'li I fi'tr Wits tt'1(l J it Vot it•it7 1----Il�th—-----------------'143+s— O W� 00 �s 6 KW COMMERI " INNETH PATTERSON DOUGLAS REYNOLDSON 1473 Ford StrF Agent Commercial Real Estate Investmefd Advisor o Redlands, CAV 3909.478.4517 909.793.2100 N e kenpcommercial�gmail.com dreynoldson@kwcommercial.com BRE #01456022 s= m • We ohtelned the hTarrrmtian above from sources we hN®Ve t0 be reliable. However. Wa have net lBrifled iia eoasecy and metra no guarantee, warrard{r or repreeentelion about It. h Is suhmMed subject to the poasibitty of wrors, orPoselar e, dmnge of pry, mnW or other oond ra, prior agile, lease or fimnehg, of wehdrswal%lthotd noticea. We hdude prgj3c(Iorm6 conlo m. assumptions or esthides for womple any, and they may rwt represerrt oment w future performance of the property. You and your tax and ku ad4q= should conduct your own hvestbellon of the property and transadiorr. www.kwcommerclal.com AERIAL MAP 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 " MMMERf . -. 1473 Ford Street Redlands, CA 92373 COMMERCIAL KENNETH PATTERSON DOUGLAS REYNOLDSON Agent Commercial Real Estate Investment Advisor 909.793.2100 909.478.4517 kenpcommercial@gmail .corn dreynoldson@kwcommercial.com BRE #01456022 We cbWkwd the Ffomu dion above from soumea we bdum to be reliable. However. we have not wMad lis accumq and mel® no guarantee, wWmly or repres&'tebw about R. R b vAwn ttad aubW to ft poe"y of errors. ornbsbrm, dh&W of prba, rental or other conddana, prbr aata, hese orMarcm, or Y.eomval weicu nom. Wa trdrde pm*fi—. ophle-, as5 mkW— ar ozWnedea fer mwroe any, and they may not repreaaM oument or future Wortrenoo of the prapeity. You end your tar and lager adnsors should cm%W your own "waUgdon of the pmpoty and tweadbn. '.� r�mmercial.ca� i ADDITIONAL PHOTOS 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 COMMERCIAL KW COMMERCIAL —4NETH PATTERSON DOUGLAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793.2100 909.478.4517 kenpcommercial®gmail.com dreynoldson@kwcommercial.com BRE #01456022 We obtalned the Infarmagon above from sources we believe to be reliable. However, we have not verified b ecorrecy and make no guarsitee, wmrm* or represertalbn about IL It Is submitted subject to 00 posw'bility of errors. omissions, change of prime, rental or other condrtioru, prior sale, laeee or WrICN. or withdrawal vvithout notice. we Incudo projections, opurtons, assunpUons or eagmetes for example arty. and they may not represent current or future pertomrence of the property. You and yar tax and legal advisors should conduct your own Investigation of the property and treroectbm www.kwcommorcial.com 207 & 207 112 E. 10th Street, San Bernardino, CA 92410 r COMMERCIAL Comparable Sale 1 • Property 1"J"' • Assessor's Parcel Map • Aerial KW COMMERCIAL —METH PATTERSON DOUGLAS REYNOLOSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373 909.478.4517 kenpcommerc dreynoldson*kwcommercial.com kenpcommercialC�3gmail.com BRE #01456022 We obtained t i foimetion above from eaaoes we believe to be m9able. Hmvmw, we Imve not vadHed is ao==y and rn" no guww**, warranty or mpresentetlor about N. h is aubnitted subject to Um possibility of enram. ornMiore. dtango of price, mntel or other conditlons, prior agile, lease or Thancktg, or Withdraws! without notks. We inoWo prgjad e, opnlem. eSunptlons or eW at- for example only. end they may not mpreand anent or fuhme pedowrwm of the proparty. You end your tax end legal ad*om ehculd eartd.A your own i+vestigdion of Uta properly end trarsaoticn. rww.kwcommercial.com 1463 Wall Ave, San Bernardino, CA 92404-5009, San Bernardino County Owner Information N/A 1,500 51000 $212,000 Beds Bldg Sq Ft Lot Sq Ft MLS Sale Price N/A Baths Owner Name: Salazar John G Owner Name 2: Yu Zhimei Mail Owner Name: John G Salazar Tax Billing Address: 9225 Meadow Ln Tax Billing City & State: Riverside, CA Location I nformation $45,000 Zip Code: 92404 Carrier Route: C002 Tract Number: 2862 School District: San Bernardino Tax Information APN: 0146-182-03-0000 % Improved 7096 Tax Area: 7012 Legal Description TRACT 2862 LOT 8 Assessment & Tax 1947 DUPLEX Yr Built ype Tax Billing Zip: Tax Billing Zip+4 Owner Vesting: Owner Occupied: 10/02/2017 MLS sale L)ate Comm College District Code Census Tract: Topography: Neighborhood Code: Tax Appraisal Area: Lot: Water Tax Dist: 92508 6287 Husband/Wife No San Bernardino Vly J 55.00 Flat/Level 091-091 12 8 San Bernardino Vly J Assessment Year 2017 2016 2015 ......................................................................................................................................................................................................................................................................... Assessed Value - Total $155,333 $162,287 $150,000 .ss*.................................................................................................-.............................................................................................,............................................................... ...ss*........ Assessed Value -Land $46,600 $45,686 $45,000 Assessed Value- Improved $108.733$106,601 $105,000 ........................................................................................................................................................................................................................................... YOY Assessed Change ($) $3,046 $2,287 ........................................................................................................................................................................................................................... YOY Assessed Ch.....a..n9e ..{�6 2% ......................................................1:52% .................................................................................................................. Tax Year Total Tax Change ($) Change (%) 2014$1.019 2015 ............................................................................................................................................................................................. $1 987 $968 94.93% ......................................................................................................................................................................................................................................................................... 2016 ......................................................................................................................................................................................................................................................................... $ 2, 099 $112 5.6296 Special Assessment Tax Amount Sb Valley Muni Wtr Dbt Svc $247.46 .............................................................................................................. School Bonds $121.06 San Bd .no Co.......................ll..e..g...e....Bon.................... mm Cod ................. $5......3....30............................................ . Co Ventor Control $5.62 Total Of Special Assessments ..................................................................................................................................... $575.97 Characteristics County Land Use: Duplex Water: Public Universal Land Use: Duplex Sewer: Public Service Lot Frontage: 50 Garage Type: Garage Lot Depth: 100 Parking Type: Undefined Type - 2 Car Garage Lot Acres: 0.1148 Parking Spaces: MLS: 2 Lot Area: 5,000 Construction Type: Wood Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS v✓ithin this report is compiled by GoreLogic from public and Property Detail accuracy data container herein an be independently verified Generated on 12/28/2017 Page 4 of 11 Building Sq Ft: 1,500 Year Built: 1847 Gross Area: 1,500 Effective Year Built: 1947 Stories: 1 Building Type: Duplex Quality: Poor # of Buildings: 1 Estimated Value Y RealAVMTm (1): $208,460 Confidence Score (2): 82 RealAVM'"' Range: $185,529 - $231,391 Forecast Standard Deviation (3): 11 Value As Of: 12/14/2017 $141.33 Owner Name 2: (1) ReaIAVM"" is a CoreLogic® derived value and should not be used in lieu of an appraisal. ............................................................'...,,...........,..,., 353640 (2) The Confidence Score is a measure of the extent to which sales data, property information, and comparable sales support the property valuation analysis process. The confidence score range is 60 - 100. Clear and consistent quality and quantity of data drive higher confidence scores while lower confidence scores indicate diversity in data, lower quality and quantity of data, and/or limited similarity of the subject property to comparable sales. 10/02/2017 (3) The FSD denotes confidence in an AVM estimate and uses a consistent scale and meaning to generate a standardized confidence metric. The FSD is a statistic that measures the likely range or dispersion an AVM estimate will fall within, based on the consistency of the information available to the AVM at the time of estimation. The FSD can be used to create confidence that the true value has a statistical degree of certainty. .........................,................,.........................................., 07/24/2014 Listing I nformation 06/15/2010 03/05!2007 Sale Price MLS Listing Number: EV17110108 MLS Original List Price: $220,000 MLS Status: Closed Closing Date: 10/02/2017 MLS Area: 274 - SAN BERNARDINO MLS Sale Price : $212,000 MLS Status Change Date: 10/03/2017 MLS Listing Agent: Evmendrob-Robert Mendoza MLS Current List Price: $215,000 MLS Listing Broker: KELLER WILLIAMS Mlles Jessie A Ahmad Monazza Miles Jessie A VICTORVILLE NLS Listing # 682558636 Cv15251581 PW14101848 N10015475 N09073961 .............................................................................................................................................................................................................................................. MLS Status Sold Canceled Closed Closed Canceled NLS 'listing Date 05/15/2017 11/23/2015 05/15/2014 02/11/2010 07/08✓2009 NLS Listing Price $215,000 $188,000 ................................................................................................................................................................................................................................................. 5170,000 $70,000 $69,989 NLS 19 Listing $220,000 $199,000 $178,000 $70,000 $70,000 Price .......................................................................................................................................................................................................................................... NLS Close Date 10/02/2017 08/08/2014 06/25/2010 ......................................................................................................................................................................................................................................................................... MLS PriceListing Close $212,000 $150,000 $73,500 ......................................................................................................................................................................................................................................................................... MLS Listing 08/28/2017 12/08/2015 08/08/2014 07/01/2010 01/06/2010 Cancellation Date ......................................................................................................................................................................................................................................................................... Last Market Sale & Sales History Recording Date: 12/22/2006 10/02/2017 Sale Type: Full Sale Date: Tax: 08/30/2017 MLS: Deed Type: Grant Deed ..................................._...... 10/02/2017 Y Sale Price: Buyer Name $212,000 Owner Name: Salazar John G Price Per Square Feet: ............ Nolan Mae D $141.33 Owner Name 2: Yu Zhimei Document Number: ............................................................'...,,...........,..,., 353640 406546 Seller: Cole Enest & Guillermina Recording Date 10/02/2017 08/08/2014 06/23/2010 06/23/2010 03/08/2007 ,................................................................................ ......................................................................I............... Sale Date 08/30/2017 .........................,................,.........................................., 07/24/2014 06!04/2010 06/15/2010 03/05!2007 Sale Price $212,000 $150,000 $73,500 ....................................................................................................................................................................................................................................................... NominalY Y ......................................................................................................................................................................................................................................................................... Buyer Name Salazar John G Cole Enest & Guillermina Ahmad Atif A Ahmad Atif A Mlles Jessie A .... ......................................... .................. ............................................................................................................................................................................................ Seller Name Cole Enest & Ahmad Atif A Mlles Jessie A Ahmad Monazza Miles Jessie A Guillermina Document Number 406546 288451 251220 251219 147746 ......................................................................................................................................................................................................................................................................... Document Type ......................................................................................................................................................................................................................................................................... Grant Deed Grant Deed Grant Deed Interspousal Deed Quit Claim Deed Transfer Recording Date 12/22/2006 08/18/1993 10/12/1890 ................................................................................................................................................................................. Sale Date 11/07/2006 08/1990 Sale Price$88,500 ................................................................................... ..................................._...... ................................................................................................................................................................................. Nominal Y Buyer Name Miles Jessie A Carter D L Nolan Maadelle ................ Seller Name ............ Nolan Mae D y........................,........................................I............... Bo lin Cassandra J Anderson Jon Randall ............ Document Number 883278 ............................................................'...,,...........,..,., 353640 408458 Document Type ............................................................................ Grant Deed Grant Deed ........................... ...................................... Grant Deed Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but Is not guaranteed,Property Detail data contained herein can be independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/29/2017 Page 5 of 11 Mortgage History Mortgage Date 07/24/2007 03/08/2007 10/12/1990 02/01/1989 1 WWII 988 . .................................................. Mortgage Amount ...................... $280,000 ........ .......................... $170,000 $8,000 ......................................................................................................................................................................... $59,400 $79,106 ............................................................... Mortgage Lender First Magnus Fin'I Corp Lender Seller Life Svgs Bk ......................................................................................................................... Mortgage Code .......................... Conventional ..................................................................................................,.........................................................................................................._......... Private Party Lender Conventional Conventional Conventional Mortgage Date 05/29/1987 ........................ 06/18/1965 .................................... _..................................................................................................... .. Mortgage Amount $9,000 $15,000 268459 99364 ..................................................................................................................................... Mortgage Lender 250328 Default Amount ..................................................................................................................................... Mortgage Code Private Party Lender .............................................................. Private Party Lender $12,478 Foreclosure History Document Type .....................................................................................................................................................................................................................I............... 3� Release Of Lis Pendens/Notice Notice Of Trustee's Sale Notice Of Default Default Date 06/06/2009 ......................................................................................................................................................................................................................................................................... Foreclosure Filing Date 02/22/2010 06/06/2009 ................................................................................................................................................................................................................................................ Recording Date 07/06/2010 03/15/2010 _..................................................................................................... 06/09/2009 Document Number 268459 99364 250328 Default Amount $12,478 ......................................................................................................................................................................................................................................................................... Final Judgment Amount $308,302 ......................................................................................................................................................................................................................................................................... Original Doc Date 06/09/2009 .................................I"'......... 07/24/2007 07/24/2007 .................................................................. Original Document Number ............................................................................................................................. 250328 431431 431431 Property Map MVI 3 � Z E 9F.th St i R E 15th -5t 4 50' ie T11h5t 1- 25- 25- yards to Wig 0.2_D17 i6i st sa_k_ C_ ommui an D 2DiT'HME A * btng *Lot Dimensions are Estimated E`113th St 2 0 26fT FAkxasoft Cwpor4wi O 2017 HERE Courtesy of LARA FERNANDEZ, KELLER WILLIANLS REALTY, California Regional NILS within this report is compiled by Corel-ogic from public and private sources. The data is deemed reliable, but is not The lity. property Detail of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipa Generated on 12/28/2017 Page B of 11 a`, V H c CL I 1v a u os ss F v o s lot I R Q n � - e•as ss�is w I I ^ 1 is I oa - got tl ■•11 3A�i�hY----s►aj----- - ----- 4}1lpr� jl• I � t .a N o 001 oa p N O C w d va of as 1"o1 IIt O 40 oift os a o9 .vl I 1v a u os ss F v o s lot I R Q n � - e•as ss�is w I I ^ 1 is I oa - got tl ■•11 3A�i�hY----s►aj----- - ----- 4}1lpr� jl• I � t .a o s•1a oa ss va O V O 40 oift cc $ Q cm Z m m M N C Ori C OD � O V 207 & 207 112 E. 10th Street, San Bernardino, CA 92410 COMMERCIAL 10MMERCIAL ' "NETH PATTERSON DOUGLAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373 909.793.2100 909.478.4517 kenpcommercial@gmail.com dreynoldson@kwcommercial.com BRE #01456022 We ofthed the IOAormallon above Iran sources we bellwre to be reGeble. However, we have rrao uwupd as aocur cy and nralae no guaranas, wwrerdy or represerdab n about it. it is suorrated subject to to possibllity of anors, omisebro, d ange of prloe, rerM or other oondklom pdor sap, Issas or fr ar,cing, or wt hdrawal vathcut notice. We trdude pr*dforo, owdona, easummrs or mumates for womie or y, and they may not represert current or hNae performance of Via property. You and your tax and Wo advlaors should conduct yota own Owastipeflon of the property and trer>soaaan. . 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 Comparable • Pror wty P •A sbessor's Parcel M Aerial KW COMMERCIAL VcNNETH PATTERSON DOUGLAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793.2100 909.478.4517 kenpcommercial@gmaii.com dreynoldson@kwcommercial.com BRE #01456022 COMMERCIAL We obtained the M netlan above Iron sourm we believe to be fellable. However, we have not verkled Its e=FeW and rnWw no guarantw warranty or mprese 4wm ebud tt. tt Is submRW armled to the pcWbiRyd errors. ordasiorrs. drangs of prb% rerdel or other ooncftns, pdor eels, Wase or fig. or wkhdrawal vAu)w notice. We h ;rude priors, opWw% assurapt3ons or adhlatas for exan le only, and VW may not wpreseltt Current or A&M psflomance of the property. You and your tax and legal edvisom ehwld =.W your own h.0gamn ottha property and tnamacgon. www.kwcommercial.com 151 W Wabash St, San Bernardino, CA 92405-4921, San Bernardino County Owner Information Multiple Building Property Summary 3 1,738 6,300 5238,000 Beds Bldg Sq Ft Lot Sq Ft MLS Sale Price 2 Baths Owner Name: Torres Larel Mail Owner Name: Larel Torres Tax Billing Address: 151 W Wabash St Tax Billing City & State: San Bernardino, CA Location Information Zip Code: 92405 Carrier Route: C004 School District: San Bernardino Comm College District Code: San Bernardino Vly J Tax I nformation 1953 SFR Yr Built Type Tax Billing Zip: Tax Billing Zip+4: Owner Vesting: Owner Occupied: 08/16/2017 MLS Sale Date Census Tract: Topography: Neighborhood Code 92405 4921 Unmarried Woman Yes 55.00 Flat/Level 091-091 APN : 0146-193-26-0000 Lot: 5 % Improved: 77% Block: 33 Tax Area: 7012 Water Tax.Dist: San Bernardino Vly J Tax Appraisal Area: 12 Legal Description: R S B COM 176.75 FT N AND 294 FT W OF SE COR LOT 5 BILK 33 TH N 150 FT M/L TO S L1 ST TH W 42 FT TH S 150 FT M/L TO PT 176.75 FT N OF S L1 SD LOT 5 TH E 42 FT TO POB Assessment & Tax Assessment Year 2017 2016 2015 .................................................................................................................................. Assessed Value - Total $140,057 i...................................................................................................................... $137,311 $135,248 Assessed Value - Land ........................•........................................._.............................................................................................. $31,831 $31 207 $30,738 ....................................._......_._.............._...................... ....................................................................................................................................................................... Assessed Value -Improved $108,226 $106:104 -$104.510............................................... .......................................................................................................................... YOYAssessed Change (S) $2,746 $2,063...................................................................................................................... ........................................................................................................... YOY Assessed Change (46) ......................................................................................................................................................................................................................................................................... 2% 1.53% Tax Year Total Tax Change (5) Change (%) 2014 $1,743 ..................................................................................................................................................................................................................................................... 2015 $1.792 $ 50 2.85% 2016 ......................................................................................................................................................................................................................................................................... $1 908 $1 5 6.44% Special Assessment Tax Amount Sb Valley MuniWtr Dbt Svc $223.13 ............................................. Sci,00l Bonds ii.66..Ti $09.18 ...................................I.......................... ............ San Bdno Comm College Bond ........................................................... $48.05 Co Ventor Control $5.62 ............................ Total Of Special Assessments .................................................................................................................................. .... .,...... .,................................................. $534.49 Characteristics County Land Use: 2 Single Family Res Sewer: Public Service Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS within this report is compiled by CoreLogic from public and private sources. The but is not The property Detail accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality. Generated en 12/28/2017 Page 7 of 11 Universal Land Use: Lot Frontage: Lot Depth: Lot Acres: Lot Area: Style: Building Sq Ft: Gross Area Stories: Total Rooms: Bedrooms: Total Baths: Full Baths: Fireplaces: Condition: Water: Estimated Value RealAVM111 (1): RealAVM111 Range: Value As Of: SFR Heat Type: Furnace 42 Cooling Type: Evap Cooler 150 Garage Type: Attached Garage 0.1446 Garage Sq Ft: 480 6,300 Parking Type: Attached Frame Garage Conventional Parking Spaces: MLS: 2 1,738 Roof Material: Composition Shingle Tax: 2,218 MLS: 1,738 Construction Type: Frame 1 Year Built: 1953 8 Effective Year Built: 1953 3 Other lmpvs: Porch 2 Porch: Patio/Porch 2 Porch 1 Area: 20 2 Porch Type: Patio/Porch Good # of Buildings: 2 Public $132,000 $244,389 Confidence Score (2): 78 $212,618 - $276,160 Forecast Standard Deviation (3): 13 12/14/2017 07/25/2017 07/07/2017 (1) RealAVM1A1 is a Corel.ogicO derived value and should not be used in lieu of an appraisal. (2) The Confidence Score is a measure of the extent to which sales data, property information, and comparable sales support the property valuation analysis process. The confidence score range is 60 - 100. Clear and consistent quality and quantity of data drive higher confidence scores while lower confidence scores Indicate diversity in data, lower quality and quantity of data, and/or limited similarity of the subject property to comparable sales. (3) The FSD denotes confidence in an AVM estimate and uses a consistent scale and meaning to generate a standardized confidence metric. I he FSD is a statistic that measures the likely range or dispersion an AVM estimate will fall within, based on the consistency of the information available to the AVM at the time of estimation. The FSD can be used to create confidence that the true value has a statistical degree of certainty. Listing Information MLS Listing Number: MLS Status: MLS Area: MLS Status Change Date: MLS Current List Price: CV17155037 Closed 274 - SAN BERNARDI NO 08/16/2017 $260,000 MLS Original List Price: Closing Date: MLS Sale Price MLS Listing Agent: MLS Listing Broker: $240,000 08/16/2017 $238,000 C31962 -Margarita Junak RE/MAXTINE REALTY MLS Listing # Cv17155033 Cv17144957 C07138901 Cv17132032 ..................................................... C12025361 MLS Status Closed Canceled Canceled Canceled ................................ Closed MLS Listing Date ................................................................................•---.........................._.__._................................................._................._.... 07/07/2017 06/26/2017 06/18/2017 06/12/2017 02/24/2012 MLS Listing Price $260,000 $260,000 $260,000 ...................................................................................................................... $295,000 $139,000 MLS Orig Listing $240,000 $260,000 $275,000 $295,000 $139,000 Price ......................................................................................................................................................................................................................................................................... MLS Close Date 08/16/2017 .................... .............. ......... .............................................................................................................................. 07/26/2012 .................................... MLS Listing Close .......... $238,000 .............. $132,000 Price MLS Listing 07/25/2017 07/07/2017 07/07/2017 06/19/2017 07/05/2012 Cancellation Date ......................................................................................................................................................................................................................................................................... MLS Listing # C11102163 H09091909 C09029188 MLS Status Expired Closed Closed ................................................................................................................................................................... ListinDate 08/04/2011 MLS 08/24/2009 03/10/2009 ............................................................................... MLS Listing Price $139,000 $139,999 $65,900 ......................_...._. ......... ..... MLS .rig Listing $139,000 $139,999 $85,900 Price MLS Close Date ............................................................................... 10/20/2009 07/02/2009 ................................................................................................................................................................................. MLS Listing Close $125,000 $65,000 Price ..... ................ MLS Listing ........................................................................................................... 02/04/2012 10/20/2009 07/06/2009 Cancellation Date ................................................................................................................................................................................. Last Market Sale & Sales History Recording Date: 08/16/2017 Sale Type: Full Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS within this report is compiled by but is not Property Detail of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 8 of 11 Sale Date: Sale Price: Price Per Square Feet Document Number: Tax: 07/26/2017 MLS 08/16/2017 $238,000 S1136.94 335161 Deed Type: Owner Name: Seller: Grant Deed Torres Larell Pollishchuk Alexander & Natalia Recording Date 08/16/2017 ..................... 08/03/2011 10/23/2009 I ................................................................................................................. 10/20/2009 07/06/2009 .................... Sale Date I ..................................................................................... 07/26/2017 05/04/2011 10/13/2009 10/15/2009 06/23/2009 Sale Pric i25ii . ......................................... Alternative Financing Corp .. . S 1 2..5 0 00 .S. 6..5.,0 00 ..............I......................................................................................I................................................................................................................................... ominaly Conventional y Mortgage Date ............................. ...... 11 ............................................................... Buyer Name ............................................................ Torres Larel Kouchlen & Tagvoryan .................................................................................................................................... Kouchian & Tagvoryan Kouchlan Levon Salazar Gonzalo Family Trust Family ........................................................................................................................................................................................................................................................................ Seller Name Pollshchuk Alexander & Kouchlan Levon Kouchlan Levon Salazar Gonzalo Deutsche Bk 2006-Opt3 Natalia Document Number iigi�i 166 .............................. ................................ giz wgi6ii ................................ �gyig ............................. iyowg .............................. .. .......................................................................................................................................................................................................................................... Document Type ...................................................................................................................................... Grant Deed Grant Deed Quit Claim Deed Grant Deed I ............................................ Grant Deed ............................................ Recording Date 02/26/2009 09/16/2005 ........................ 11/03/2003 ............... ....... .......................... Sale Date Wi 77� ....................... W60i666 6ii�5hb65 ........... . Sale Price $63195 $345,000 $135,000 ..................................................... Nominal ............................................................................................................................ Buyer Name .. ......... ...... . ... ..... Hsi Asset 2006-0 pt3 E zeo g ba Catlins 0 Sea is Finis B Seller Name Ahmsi Default Svcs Inc Seals Finis B .. . .... ..... .... . .... Caballero Ruben ........................................................................................................................................................ Document Number 83121 6 94326 826278 Document Type ....... I ....................... I .................... Trustee's Deed Grant Deed I ............................................................................................................................ Grant Deed Mortgage History Mortgage Date 08/16/2017 10/2012009 09/16/2005 09/16/2005 06/23/2005 ...................................................................................................................................................................................................................................................................... Amount $233.689 $100,000 $272,000 $68,000 $225.000 ............................................................................................ Mortgage Lender Alterre Hm Lns I ............................................................................................................................................................................ Metro Lending Svcs Alternative Financing Corp Alternative Financing Corp Option One Mtg Corp ................................... .I ........................r................................................................................i...... ..... I ................... I ................ Mort a e Code �; l�n!!ntional . ................................................................................................................................................................... ... ...... I .................................................................................................. Conventional Conventional ..................... Conventional Mortgage Date 12/15/2004 ............................ 08/08/2002...................... .:....... .... ..... .......... ............................................................................................................................................................................. Original Document Number .1.1 ......... I ............................ ........ .............................................................................................. 694327 .................................................................................... Mortgage Amount I FR!766 igyF66 ./..2..0..0..3.. ...................... ...................................1..1../..0..3 Mortgage Lender World Svgs Bk Fsb Fieldstone Mtg Co .............................. First Magnus Fln'l Corp ...... Mor ag . e ............. .&��venii�i .............................................. I ......I.......................... .... ... ...... Conventional ................................................................................... ............. . Conventional Foreclosure History Document Type Notice Of Trustee's Sale Notice Of Default . ............................................................... Default Date 10/30/2008 ForeGosure Filing Date 01/26/2008 ................... I ........................ ....................................................... 10/23/2008 I ....... I ........................................... .. ....................................... I ......... I ......................................... Recording Date .............................10/2.4/2008.. . ........... ..... ............................................. .... Document Number .....01/26/2009 31793.......... 471877 ................................... lt .................................................. ..................... : ...................................................... iiY6 .. .. .. niii.0.......e.................t..................... YijdgmntAmoun ....5....4....................................... $285,554 ..... O!'jj�jjj*6;'jjate ................ ........................ .................................................................................................. 09/16/2005 09/16/2005 .... ..... .......... ............................................................................................................................................................................. Original Document Number .1.1 ......... I ............................ ........ .............................................................................................. 694327 694327 I ................................................ Courtesy ofLARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data witi-in this report is compiled by Corel-ogic from public and but is not guaranteed. be Independently verified Property Detail Generated on 12/2812017 Page 9 of 11 Property Map f W Wabash St 42'— 150' 150' 14�42' —I LTA I 25 ar s tV bifm _ _ Q 2007 oR cor_ V zotrtERE. ltr bWV *Lot Dimensions are Estimated Characteristics County Land Use: Universal Land Use: Lot Frontage: Lot Depth: Lot Acres: Lot Area: Style: Building Sci Ft: Gross Area: Stories: Total Rooms: Bedrooms: Total Baths: Fireplaces: Condition: Characteristics County Land Use: Universal Land Use: Lot Frontage: Lot Depth: Lot Acres: Lot Area: Style: Building Scl Ft. Gross Area: Stories: 2 Single Family Res SFR 42 150 0.1446 6,300 Conventional 650 2,218 1 3 1 1 1 Good 2 Single Family Res SFR 42 150 0.1446 6,300 Conventional 1,088 2,218 1 e, Z' MageofWAve- -w lath st W Ought®.St i wwallinh st 6 a. c z 2 Win iSt. Building 1 of 2 Water: Sewer: Heat Type: Cooling Type: Garage Type: Garage Sq Ft: Parking Type: Roof Material: Construction Type: Year Built: Effective Year Built: Other Impvs: Porch: Porch 1 Area: Porch Type: Building 2 of 2 Fireplaces: Water: Sewer: Heat Type: Cooling Type: Roof Material: Construction Type: Year Built: Effective Year Built: Porch: N E 6th st d z Ev* st E St 14W W Bess Line St Baseline St 2� 00 yards .® 2017MiimsaS Corp @cF=_ Public Public Service Furnace Evap Cooler Attached Garage 480 Attached Frame Garage Composition Shingle Frame 1953 1953 Porch Patio/Porch 20 Patio/Porch 1 Public Public Service Furnace Evap Cooler Composition Shingle Frame 1953 1953 Patio/Porch Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data vvithin this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, is not guaranteed. Property Detail accuracy of the data contained herein can be Independently verified by the recipient of this report with the applicable county or municipality Generated on 12/28/2017 Page 10 of 11 Total Rooms: 5 Porch 1 Area: 20 Bedrooms: 2 Porch Type: Patio/Porch Total Baths: 1 Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report is compiled by CoreLDgic from public and private sources. The data is deemed reliable, but Property Detail data contained herein can be independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 11 of 11 I I m :r r 0 0 C N -I i Alva cs Is qt of .c c•ul i oo� ci•Isi 0 � I li I I' u o II o n I I _ oil e. rqt I i o' II tees a, 1 O� � T •�k�}AY- - -=+ �•"-►: � — - - — IHfA-tE.Wf•N�OA— � - �-I I IC N i q9 'q Ii �- Q. i Rfl 0 0 0 0 p� v�0i h n h N n- ar I i -I oc fhi eA a qi I e I x n n I14 a� tl I I I - I :e � a qi ICIV i i it II - ' 'S - I I y. 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 f COMMERCIAL KW COMMERCIAL '—.NNETH PATTERSON DOUGLAS REYNOLDSOPI 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793'2100 909.478.4517 dreynoldson@kwcommercial.com kenptmmmercialiaJgmall.cam BRE #01456022 We obtened the womrrdon shove from sources we be0eee to he reftbW Hassey, we have not tanned b accuracy arld mel® no puarmhA werrarty or represerrtal& about IL h Is wArr itted KMW to the paawisty ar errors, orris9loro, change or we, rental or oftr condWs, prior sde, lease orfsnaldrg, Or VAMraval Matrical notim We trrolyde projections, q*ft's, esstanptions or ssthk tas for exanple oray, and they may not represent currert or hrtlse perfmrmroe of the properly. You and your tax and legal adrlects dwuld=Ajcl your own irvestigallon of the property and trarsechom 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 COMMERCIAL Comparcon1ble e #3 0 Properb#Profile 6 Assessors Parcel Map • Aerial KW COMMERCIAL . "NETH PATTERSON DOUGLAS REYNOLOS01 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.478.4517 909.79dreynoldson@kwoommerclal.com kenpcommercmercial®gmail.com BRE #01456022 We obtdned the k nudlon above iron sauces we barsve to he rdMl-- !- w er, wo have not veffod Its a=rwv and make no 9uamrNee, vmm dy or reprawdatian abort K. H Is subrnllled suboot to Kra possibly of enoM ams`ors. change of price. rental or other owdlions, prior eek, base or Jnwxft, or wdhdmwal vAhow notice, We ir"'da projadbas. opivars, assuawtiors or eYirmfes for ex mpb qtly, end they may not represent anrent or fulu,a pedamence of Qre property. You and your lax and bgai ednsws should amduc1 your own kwesilgeNar of ft properly and trarsecflon. vww.kwcommerciaLc[ 236 E 16th St, San Bernardino, CA 92404-5012, San Bernardino County Owner Information Owner Name: Mail Owner Name: Tax Billing Address: Tax Billing City & State: Location 1 nformation Zip Code: Carrier Route: School District. Comm College District Code: Tax Information APN % Improved: Tax Area: Tax Appraisal Area: Legal Description: Assessment & Tax N/A Beds N/A Baths Chew Gordon J Gordon J Chew 3743 Shandin Or San Bernardino, CA 92404 Coo6 San Bernardino San Bernardino Vly J 1,610 8,400 $242,000 Bldg Sq Ft Lot Sq Ft MLS List Price 1948 DUPLEX N/A Yr Built Type Sale Date Tax Billing Zip: 92407 Tax Billing Zip+4: 4308 Owner Occupied: No Census Tract: 54.00 Topography: Flat/Level Neighborhood Code: 091-091 Active Listing 9 0146-121-12-0000 Lot: 4 77% Block: 39 7012 Water Tax Dist: San Bernardino Vly J 12 R S B PTN LOT 4 BILK 39 BEG AT PT ON N L1 16TH ST SO PT BE1 NG 25 FT N AND 220 FT E OF SW COR OF LOT 4 TH E 52.5 FT TH N TO PT 330 FT S OF N L1 SO LOT TH W 52.5 FT TH S 160 FT TO POB Assessment Year 2017 2016 2015 ................................_.........................................................................................................................................................................................._........---................................. Assessed Value Total $106,544 $104,455 $102,866 ...................................................................................................................................................................................................................................... Assessed Value Land $24,740 $24,255 $23.891 e Assessed ValuIm roved $81 804 $80,200 $78985 , YOYAssessed Change (g�.............$2,089...................................................$1,569........................................................................................................... YOY Assessed Change (9b) ............................................................................................................................................................................................................................................................... 2% 1.52% Tax Year Total Tax Change (S) Change (96) 2014 $1,519 .................................................................................................................................. 2015$1 365 ....................................................................................................................................... -$155 -10.17% ..................................................... 2016 ............................................. I .......... ......................................................................................................................................................................................................................................................................... . $1'.488........................ I.......................... $12........................................................9.D3% Special Assessment Tax Amount _ Sb Valley Muni Wtr Dbt Svc �- $169.73 ........................................................................................... School Bonds $83.04 ..................................................................................................................................... San Bdno Comm College Bond $36.55........................ I ........ ........... ........................................................ Co Ventor Control $5.62 Total Of Special Assessments ............................................................. $443.47............................_........ Characteristics County Land Use: Duplex Sewer: Public Service Universal Land Use: Duplex Garage Type: Parking Avail Lot Acres: 0.1928 Parking Type: Off Site Lot Area: 8,400 Parking Spaces: MLS: 2 Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS within this report is compiled by Corel-ogic from public and private sources. The not The property Detail of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 1 of 11 Building Sq Ft: 1,610 Construction Type: Wood Gross Area: 1,610 Year Built: 1948 Stories: MLS: 1 Effective Year Built: 1948 Quality: Poor Building Type: Duplex Water: Public # of Buildings: 1 Estimated Value Chew Gordon J Trust Chew Gordon J Chew Gordon &Betty Zema Mark L RealAVM'" (1): $212,062 Confidence Score (2): 75 RealAVM'" Range: $180,253 - $243,871 Forecast Standard Deviation (3): 15 Value As Of: 12/14/2017 _ Quit Claim Deed AfFdavit ................................................................................................_........................................................................................................ ......................................................................................................... Grant Deed (1) RealAVM— is a CoreLogic® derived value and should not be used in lieu of an appraisal. (2) The Confidence Score is a measure of the extent to which sales data, property information, and comparable sales support the property valuation analysis process. The confidence score range is 60 - 100. Clear and consistent quality and quantity of data drive higher confidence scores while lower confidence scores indicate diversity in data, lower quality and quantity of data, and/or limited similarity of the subject property to comparable sales. (3)The FSO denotes confidence in an AVM estimate and uses a consistent scale and meaning to generate a standardized confidence metric. The FSD is a statistic that measures the likely range or dispersion an AVM estimate will fall within, based on the consistency of the information available to the AVM at the time of estimation. The FSD can be used to create confidence that the true value has a statistical degree of certainty. Listing Information MLS Listing Number: MLS Status: MLS Area: MLS Status Change Date: MLS Listing # ............................................ I ............ MLS Status ............................................................. MLS Listing Date .........................wiii............................... MLS Listing Price ............................................................. MLS Orig Listing Price ............................................................. MLS dose Date MLS Usting Close Price ............................................................. MLS Usting Canceiiation Date ............................................................. EV17122250 Active Under Contract 274 - SAN BERNARDINO 12/15/2017 682576797 .................. Sold 05/31/2017 $242,000 ............................. $244,000 ............................. 12/22/2017 ............................. $235,500 12/22/2017 ............................. Last Market Sale & Sales History Recording Date: 10/13/1983 Sale Price. $14,500 Price Per Square Feet: $9.01 Multi/Split Sale: split Document Number: 240331 MLS Current List Price MLS Original List Price MLS Listing Agent: MLS Listing Broker, Sale Type: Deed Type: Owner Name: Seller: $242,000 $244,000 Ehereliz-Elizabeth Hernandez REALTY ONE GROUP TRILOGY Full Deed (Reg) Chew Gordon 7 Stephenson Viva Recording Date 12/09/2010 12/09/2010 _.....................I............................. 05/20/1988 10/13/1983 _.................................................... .......................................................................................................................................... Sale Date 08/28/2008 05/28/2008 04/1988 Sale Prlce.................................................................. ......................................................................_................................................._.................................................... $23,000 $14,500 .................--_........................................................................................................_................................................................-............,........................... Nominal Y Y B er Name Chew Gordon J Trust Chew Gordon J Chew Gordon &Betty Zema Mark L ............................................................................................................... Seller Name .............................._..................................................._.................................................. Chew Gordon J Chew BettyK L Zema Mark L Stephenson Viva .................- Document Number -.......................................I.............I...._......................................................................................................._.................................................... 523310 523309 159429 240331 Document Type .............................................. _ Quit Claim Deed AfFdavit ................................................................................................_........................................................................................................ ......................................................................................................... Grant Deed Deed (Reg) Mortgage History Mortgage Date 10/13/1983 ........................................................................................................................ Mortgage Amount $1 bfortgage Code Conventional Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data within this report is compiled by Coret-ogic from public and private sources. The data is deemed reliable, but is not guaranteed. The proper Detail accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality. Generated on 12/28/2017 Page 2 of 3 Property Map E 16th 5t. '110 -- *Lot Dimensions are Estimated — 52' i 170' 169' —52' — St 3 OS z E 16th St E16 @2017 Wlicmak Corporatign 0 2017 HERE li bldg Courtesy of LARA FERNANDEZ, KELLER WILLIAMS REALTY, California Regional MLS The data v✓ithin E'f9t1t.5t E i7th N E 1516 5t z not guaranteed. � j7{ist i _# h 2 0 2017 Idibmoft Carpgratlaft 10 20t714ERE Property Detail Generated on 12/26/2017 Page 3 of 11 i LG wr 0 C, fi V p C t mp m o V- L- va h o o� Ca�1+ 001 i 11 S'ff ell o J O f. fe•eu N = � O • On Y „G m ff tf v C p � d � c vo m oa fa W Q C �� �1:'f►t) 1 tL tll •S'1! r9'i[ 4t I � 1 1 1 'f e � d+ i 1 1 ri 1 vi 1 i 1 yN O ' - n ��• w` a iri 1 1 1 1 f I 1 1 1 n 19 1 1.1 1 1 s Q f I 001 i 11 S'ff ell o J e 0 Q N L O O O fe•eu • On Y „G m ff tf e 0 Q N L O O 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 rM COMMERCIAL KIN COMMERCIAL L—INETH PATrERSON DOUGLAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793.2100 909.478.4517 kenpcommercialOgmall.com dreynoldson@kwcommercial.com BRE #01456022 We obtained the Fnfarnr6forr above from sources vae beliffire to be rabbis. However vaa have not verified W eocuracy end ftWe e no guarantee, werrertty or iepreserdetton about tt. a Is subrrelled eubJeot to the poadbnty of errors, on"", change of price, rented or other conddlms, prior safe, lease or frtendrg. or withdre" wkhak notice. M include pro]egbre, opinions, sysuenpgms or om:.daon for emrrrple ony, and they may nut represent Current or tuture pedomiarfce of the property. You and your lex and larged edvbora should conduct your own kNesggreion of the property end trensedorx MULTIFAMILY FOR SALE 207 & 20704 f7boj �th Street, San Bernardino, CA 92410 COMMERCIAL. Resume for Kenneth Patterson: 1975 to late 1979 Mess Management Specialist for USN (primary jobs: Staff Cook, Mess Manager, maintained food supplies and Buyers agent for ships food) I was E4 at time of discharge. Licensed as a California Real Estate Agent in 1979 Licensed as a California Real Estate Broker in 1989 Licensed as a Security Dealer with the National Association of Security Dealers (FINRA) in 1995. (Series 7 and 63 license, State of California Fixed and Variable life license) 1993-1995 Manager of Neighborhood Mortgage Corp. in Costa Mesa, Ca. (4 offices in Southern Ca.) We did over $80 million in Originating Residential and Commercial loans yearly. 1995 through 1997 Independent Security Dealer with American Express Financial Advisor. Since 1998 through 20111 managed Investment Retirement accounts for clients as an Independent Security Dealer and Small Group Health Benefits; through Lighthouse Capital Corporation out of Monterey, CA. From 1979 through 1999 I primarily sold and developed land to and for developers as an independent agent/broker. From 2000 to 2005 I incorporated residential sales into my sales activities because of demand by builders/developers I worked with. At which time I became an associate broker with Coldwell Banker Kivett-Teeters, I averaged 70 closed transactions per -year, until the recent down turn in the market. Mid -year 2005 to August 2012; Coldwell Banker Commercial Kivett-Teeters became the newest Commercial franchise. I deal in Commercial Sales, Building Leases, Ground Leases, land Sales and development. 2003-2007 I have been awarded the International Presidents Circle from Coldwell Banker International, which places me in the top 5% of Sales Associates Internationally. KW COMMERCIAL 'INET'H PATTERSON Dr'' ;LAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373909.793.2100 909.478.4517 kenpcommercial@gmail.com dreynoldson@kwcommercial.com 6RE#01456022 We ob4ened the Moenellm above from sources we balm to be relebla tiowc . we hme not mmw Is =XMWV aW wo m no guererdea, mffa tf' or repreewtet m e..Ld it. I Is suhnYtted slaw to the posslbulty of errors, ortdselore, dwW of price, rental at other oandlfarm, prior sale, leave or friffiChm Or wd 4MWel vVltlmlt Wt& We hclude propdiors, qA dam, aseumptiom a asumetes for m(mnple ordy, end they may not represent ow i st or tubae perforrmim of tha property. You erd yora tax and legal adhA ms Should omrdrl ymi own heallgdlm of the property end transaction. 'mw.kwcummerdal.Cr MULTIFAMILY FOR SALT 207 & 207 1/2 E. 10th Street, San Bernardino, CA 92410 August 2012 to Current I moved to Keller Williams Commercial as an Associate Broker in Redlands Ca. Doing the same business practices in the commercial arena, plus I now work with Asset Managers for Defaulted Notes and Real Estate, Probate and Bankruptcy Trustees. I'm also currently an Independent Financial Advisor for Colorado Financial Services. Kenneth Patterson KW Commercial 1473 Ford St Ste #200 Redlands, Ca. 92373 951-318-8516 cell 909-793-8200 Fax ken commercial'rrgniail.com Ca Lic#00774852 KW COMMERr P-NNETH PATTERSON DOUGLAS REYNOLDSON 1473 Ford Street Agent Commercial Real Estate Investment Advisor Redlands, CA 92373 909 793 2100 909.478.4517 kenpeommercialfgmail.com dreynoldson®kwcommercial.com BRE #01456022 We obtek d the Momretlat above tram sources we believe to be retable. Vloftvaf, We have not VeMbd to WoUlaq and make no pimrentee, Wam Ay or repraverNfllbn about tt It Is submitted atoll to to poselblity OF errom, omtsslons, change of prke, mr ftW or other ahndtlons, prior ace, lease or hiking, or vrfth a al wMvx t nob= We Irdude projections, opi9ms, aaamhpliom or estimates for exempla only, end that' may not repreaam au mf t or future performance or to pmpedy. You and yaw tax and legal adAsors wwuid cand.d Y.own krandpeton of in property and trar�eadlon. uww.kwwmmeroia(,com PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS SELLER: Successor Agency to the Redevelopment Agency of the City of San Bernardino BUYER: Brother's Home Trading Corporation Raziuh Investments Corporation DATED: March 21, 2018 (207/207-% E. 10th Street, APN 0140-171-16) BASIC TERMS Buyer: Buyer One: Brother's Home Trading Corporation Buyer Two: Raziuh Investments Corporation Buyer's Address: Buyer One: Brother's Home Trading Corporation 3637 Alhambra Ln Perris, CA 92571 Tel. 909-229-0304 Email: Brother'shometrade@yahoo.com City: Buyer Two: Raziuh Investments Corporation 15419 Canyonstone Dr. Moreno Valley, CA 92551 Tel. 657-318-9085 Email: Orlando—huizar@yahoo.com The City of San Bernardino Closing Contingency Date: June 29, 2018 Closing Date (or Closing): Estimated to occur by April 15, 2018, but not later than the Outside Date Deed: A grant deed in the form of Exhibit B hereto Effective Date: March 21, 2018 Escrow Holder: Commonwealth Land Title A Fidelity National Financial Company 888 S. Figueroa Street, Suite 2100 Los Angeles, CA 90017 Tel: (213) 330-3059 Attention: Crystal Leyvas, Vice President, National Accounts National Commercial Services (direct: (213) 330-3059; email: CleYvas@cltic.com (or another escrow holder mutually acceptable to Buyer and Seller) Independent Consideration Amount: Two Hundred Dollars ($200.00) Outside Date: July 24, 2018; provided that such date may be extended by mutual writing agreement by Seller and Buyer Purchase Price: One Hundred Thirty -One Thousand Dollars ($131,000) Real Property: That property described in Exhibit A hereto; the subject property is sometimes referred to as APN 0140-171-16 Seller. Successor Agency to the Redevelopment Agency of the City of San Bernardino Seller's Address: 290 N. "D" Street — Third Floor San Bernardino, California 92401 Attention: Andrea M. Miller, City Manager Tel. (909) 384-5122 Fax: (909) 384-5138 Email: Miller—An@sbcity.org Soil and Title Contingency Date: May 29, 2018 Title Company: Commonwealth Land Title A Fidelity National Financial Company 888 S. Figueroa Street, Suite 2100 Los Angeles, CA 90017 Tel: (213) 330-3059 Attention: Crystal Leyvas, Vice President, National Accounts National Commercial Services (direct: (213) 330-3059; email: Cleyvas(a cltic.com (or another title company mutually acceptable to Buyer and Seller) 2 PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS This PURCHASE AND SALE AGREEMENT AND JOINT ESCROW INSTRUCTIONS ("Agreement") is made and entered into as of March 7, 2018 (the "Effective Date") by and between Seller and Buyer. Buyer One and Buyer Two collectively constitute "Buyer" for purposes of this Agreement. RECITALS A. Seller is the fee owner of the Real Property. The Real Property is improved with a duplex housing unit. B. Seller has offered to sell to Buyer the Real Property described herein for the price and subject to the terms set forth below. Buyer has considered the offer by Seller and agrees to buy from Seller the Real Property, as more specifically described below. C. In addition to the Purchase Price, material considerations to Seller in agreeing to enter into this Agreement, Buyer has agreed to pay to Seller the Independent Consideration Amount; NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Seller and Buyer agree as follows: 1. Purchase and Sale. Seller hereby agrees to sell the Real Property to Buyer, and Buyer hereby agrees to purchase the Real Property from Seller, on the terms and conditions set forth in this Agreement. The term Real Property is defined collectively as the following: (a) The fee interest in the Real Property to be conveyed by a grant deed in the form of the Deed; and (b) All personal property, equipment, supplies, and fixtures owned by Seller and located at the Real Property. 2. Payment of Consideration. As consideration for the sale of the Real Property from Seller to Buyer, Buyer shall, at the Closing (as defined below), pay to Seller the Purchase Price for the Real Property. Upon payment of the Purchase Price (less any adjustments made to clear liens and to defray Seller's costs of sale including, but not limited to, the preparation of legal documents and validation of the purchase price incurred by the City of San Bernardino and the Seller's share of closing costs), the use of sales proceeds by Seller is a matter with which Buyer is not concerned. 3. Escrow and Independent Consideration. (a) Opening of Escrow. For the purposes of this Agreement, the escrow ("Escrow") shall be deemed opened ("Opening of Escrow") on the date that Escrow Holder receives a copy of this Agreement fully executed by Buyer and Seller. Buyer and Seller shall use their best efforts to cause the Opening of Escrow to occur on or before five (5) business days after the Effective Date. Escrow Holder shall promptly notify Buyer and Seller in writing of the date of the Opening of Escrow. 3 Buyer and Seller agree to execute, deliver and be bound by any reasonable or customary supplemental escrow instructions or other instruments reasonably required by Escrow Holder to consummate the transaction contemplated by this Agreement; provided, however, that no such instruments shall be inconsistent or in conflict with, amend or supersede any portion of this Agreement. If there is any conflict or inconsistency between the terms of such instruments and the terms of this Agreement, then the terms of this Agreement shall control. Without limiting the generality of the foregoing, no such instruments shall extinguish any obligations imposed by this Agreement or any other agreement between Seller and Buyer. (b) Independent Consideration. Within two (2) days after the Effective Date, Buyer shall pay to Seller the Independent Consideration Amount to be retained by Seller as non-refundable independent consideration, The Independent Consideration Amount has been bargained for and agreed to as consideration for Seller's execution and delivery of this Agreement and Buyer holding the Real Property off the market for a period commencing as of the Effective Date and continuing until the Outside Date and for the rights and privileges granted to Buyer herein, including any and all rights granted to Buyer to terminate this Agreement under the circumstances provided for herein. Notwithstanding anything to the contrary contained in this Agreement, the Independent Consideration Amount shall be non-refundable in all events, except for (i) Seller's default hereunder, (ii) the failure of the Oversight Board of the Successor Agency to the Redevelopment Agency of the City of San Bernardino (the "Oversight Board") to approve the sale of the Real Property as provided under this Agreement, and (iii) actions by the California Department of Finance ("DOF") which prevent the disposition of the Real Property to Buyer as provided under this Agreement. If the Closing occurs, a credit shall be applied to the Purchase Price based upon payment of the Independent Consideration Amount. (c) Closing. For purposes of this Agreement, the "Closing" or "Closing Date" shall be the date the Deed (as defined below) is recorded pursuant to applicable law in the county in which the Real Property is located. Unless changed in writing by Buyer and Seller, the Closing shall occur on the Closing Date, or as soon thereafter as the conditions precedent to closing are satisfied pursuant to Sections 6 and 7 of this Agreement. If the Closing has not, for any reason, occurred by the Closing Date, then either Buyer or Seller may terminate this Agreement by delivering written notice to the other at any time after the outside Closing Date; provided, however, that if either party is in default under this Agreement at the time of such termination, then such termination shall not affect the rights and remedies of the non -defaulting party against the defaulting party. (d) Designation of How Title to be Held. Each of Buyer One and Buyer Two shall inform each of Seller, Title Company, and escrow holder as to how title is to be held. 4. Seller's Delivery of Real Proper and Formation Documents. Within ten (10) days after the Effective Date, Seller shall deliver to Buyer the following items (collectively, the "Property Documents"): (a) Such proof of Sellers' authority and authorization to enter into this Agreement and to consummate this transaction as may be reasonably requested by Buyer and the Title Company consistent with the terms of this Agreement, including without limitation approval of the Oversight Board of the sale of the Real Property by Seller to Buyer. 4 In addition, Seller shall cause Escrow Holder to obtain and deliver to Buyer a Natural Hazard Report as provided for under Sections 1102 and 1103 of the California Civil Code (the "Natural Hazard Report") on or before the Soil and Title Contingency Date. 5. Buyer's Ri ht of Entry. From and after the Opening of Escrow through the earlier to occur of the termination of this Agreement or the Soil and Title Contingency Date, or as otherwise agreed in writing by Seller prior to entry is effected, Buyer and Buyer's employees, agents, consultants and contractors shall have the right to enter upon the Real Property during normal business hours, provided reasonable prior notice has been given to Seller. (a) Investigation of the Real Propert. In addition to the foregoing, the Buyer shall have the right, at its sole cost and expense, prior to the Soil and Title Contingency Date, to engage its own environmental consultant (the "Environmental Consultant") to make such investigations as Buyer deems necessary or appropriate, including any "Phase 1" or "Phase 2" investigations of the Real Property. If, based upon such evaluation, inspections, tests or investigation, Buyer determines that it, in its discretion, does not wish to proceed with purchase of the Real Property based upon the condition of the Real Property, Buyer may cancel this Agreement by giving written notice of termination to Seller on or before the Soil and Title Contingency Date which specifically references this Section 5. If Buyer does not cancel this Agreement by the time allowed under this Section 5, Buyer shall be deemed to have approved the evaluation, inspections and tests as provided herein and to have elected to proceed with this transaction on the terms and conditions of this Agreement. Buyer shall provide a copy to the Seller of all reports and test results provided by Buyer's Environmental Consultant promptly after receipt by the Buyer of any such reports and test results without any representation or warranty as to their accuracy or completeness. Buyer shall bear all costs, if any, associated with restoring the Real Property to substantially the same condition prior to its testing by or on behalf of Buyer if requested to so do by Seller but excluding any latent defects or Hazardous Materials (as defined below) discovered by Buyer during its investigation of the Real Property. Buyer agrees to indemnify, protect, defend (with counsel satisfactory to Seller) and hold Seller and the Real Property free and harmless from and against all costs, claims, losses, liabilities, damages, judgments, actions, demands, attorneys' fees or mechanic's liens arising out of or resulting from any entry or activities on the Real Property by Buyer, Buyer's agents, contractors or subcontractors and the contractors and subcontractors of such agents, but in no event shall the indemnity of this Section include the discovery of pre-existing conditions by Buyer or any such liabilities, costs, etc. arising from the negligence or willful misconduct of Seller and/or its consultants. The indemnity obligations of Buyer set forth in this Section 5(a) shall survive any termination of this Agreement or the Close of Escrow. "Hazardous Materials" means any substance, material, or waste which is or becomes regulated by any local governmental authority, the County, the State of California, regional governmental authority, or the United States Government, including, but not limited to, any material or substance which is (i) defined as a "hazardous waste," "extremely hazardous waste," or "restricted hazardous waste" under Sections 25115, 25117 or 25122.7, or listed pursuant to Section 25140 of the California Health and Safety Code, Division 20, Chapter 6.5 (Hazardous Waste Control Law), (ii) defined as a "hazardous substance" under Section 25316 of the California Health and Safety Code, Division 20, Chapter 6.8 (Carpenter -Presley -Tanner Hazardous Substance Account Act), (iii) defined as a "hazardous material," "hazardous substance," or "hazardous waste" under Section 25501 of the California Health and Safety Code, Division 20, Chapter 6.95 (Hazardous Materials Release Response Plans and Inventory), (iv) defined as a "hazardous substance" under Section 25281 of the California 5 Health and Safety Code, Division 20, Chapter 6.7 (Underground Storage of Hazardous Substances), (v) petroleum, (vi) friable asbestos, (vii) polychlorinated biphenyls, (viii) listed under Article 9 or defined as "hazardous" or "extremely hazardous" pursuant to Article 11 of Title 22 of the California Administrative Code, Division 4, Chapter 20, (ix) designated as "hazardous substances" pursuant to Section 311 of the Clean Water Act (33 U.S.C. §1317), (x) defined as a "hazardous waste" pursuant to Section 1004 of the Resource Conservation and Recovery Act, 42 U.S.C. §6901 et seq. (42 U.S.C. §6903) or (xi) defined as -"hazardous substances" pursuant to Section 101 of the Comprehensive Environmental Response, Compensation, and Liability Act, 42 U.S.C. §6901 et seq. (b) No Warranties as to the Real Proyer[Y. The physical condition and possession of the Real Property, is and shall be delivered from Seller to Buyer in an "as is" condition, with no warranty expressed or implied by Seller, including without limitation, the presence of Hazardous Materials or the condition of the soil, its geology, the presence of known or unknown seismic faults, or the suitability of the Real Property for development purposes. In addition, Seller makes no representations, warranties or assurances concerning the Real Property, its suitability for any particular use or with regard to the approval process for entitlements as to the Real Property. (c) Buyer Precautions after Closing. Upon and after the Closing, Buyer shall take all necessary precautions to prevent the release into the environment of any Hazardous Materials which are located in, on or under the Real Property. Such precautions shall include compliance with all laws, ordinances, statutes, codes, rules, regulations, orders, and decrees of the United States, the state, the County, the City, or any other political subdivision in which the Real Property is located, and of any other political subdivision, agency, or instrumentality exercising jurisdiction over the Real Property ("Governmental Requirements") with respect to Hazardous Materials. 6. Bu ver's Conditions Precedent and Termination Right. (a) Conditions Precedent. The Closing and Buyer's obligation to consummate the purchase of the Real Property under this Agreement are subject to the timely satisfaction or written waiver of the following conditions precedent (collectively, `Buyer's Contingencies"), which are for Buyer's benefit only. (i) Title Review. Within twenty (20) calendar days after the Opening of Escrow, Seller shall cause the Title Company to deliver to Buyer a preliminary title report (the "Report") describing the title to the Real Property, together with copies of the plotted easements and the exceptions (the "Exceptions") set forth in the Report; provided that the cost of the Report shall be borne by Seller. Seller acknowledges that the Buyer's Title Policy shall include an endorsement against the effect of any mechanics' liens; Seller will provide such indemnity or other assurances as necessary to induce the Title Company to provide such endorsement. On or before the Soil and Title Contingency Date, Buyer shall have approved in writing, in Buyer's sole discretion, any matters of title disclosed by the following (collectively, the "Title Documents"): (i) the Report; (ii) the Exceptions; (iii) the legal description of the Real Property and (iv) any survey Buyer desires to obtain at Buyer's sole cost and expense. Buyer shall have the same rights to approve or disapprove any exceptions to title that are not created by Buyer and that come into existence after issuance of the Report but prior to Closing. Seller shall, on or before the Closing, remove all deeds of trust, mortgages, and delinquent taxes (but not the lien for any real property taxes or assessments not yet delinquent). 6 (ii) Buyer's Title Policy. On or before the Closing, the Title Company shall, upon payment (by Buyer) of the Title Company's premium, have agreed to issue to Buyer, a standard ALTA owner's policy of title insurance insuring only as to matters of record title ("Standard Buyer's Title Policy") in the amount of the Purchase Price showing fee title to the Real Property vested solely in Buyer and subject only to the (i) the standard, preprinted exceptions to Buyer's Title Policy; (ii) liens to secure payment of real estate taxes or assessments not yet delinquent; (iii) matters affecting the Real Property created by or with the written consent of Buyer; and (iv) those matters specifically approved in writing by Buyer. Buyer shall have the right, at its sole cost and expense, to obtain coverage beyond that offered by a Standard Buyer's Title Policy (such as an owner's extended coverage ALTA policy); provided, however, that Buyer's ability to obtain such extended coverage shall not be a Buyer's Contingency and Buyer's obligations hereunder shall in no way be conditioned or contingent upon obtaining such extended coverage. Buyer shall have sole responsibility for obtaining, and bearing the cost of, any endorsements and for any survey or other matters required by the Title Company for such extended coverage. In the event Buyer enters into a loan agreement to generate moneys to purchase the Real Property from Seller under this Agreement, Buyer and not Seller shall be responsible for the title insurance, closing costs and any other costs, fees or expenses in relation to Buyer obtaining such loaned moneys. The sale shall be all cash to Seller. (iii)Physical and Legal Inspections and Studies. On or before Soil and Title the Contingency Date, Buyer shall have approved in writing, in Buyer's sole and absolute discretion, the results of any physical and legal (but not feasibility or economic) inspections, investigations, tests and studies Buyer elects to make or obtain, including, but not limited to, investigations with regard to zoning, building codes and other governmental regulations; engineering tests; soils, seismic and geologic reports; environmental audits, inspections and studies; environmental investigation or other invasive or subsurface testing, and any other physical or legal inspections and/or investigations as Buyer may elect to make or obtain. (iv) Natural Hazard Report. Seller shall cause the Escrow Holder to provide to Buyer prior to the Soil and Title Contingency Date the Natural Hazard Report described at Section 8(a)(iii) of this Agreement, provided that Seller shall bear the cost to prepare such Natural Hazard Report. (v) Property and Formation_ Documents. On or before the Soil and Title Contingency Date, Buyer shall have approved in writing, in Buyer's reasonable discretion, the terms, conditions and status of all of the Property Documents. (vi)Delivea of Documents. Seller's delivery of all documents described in Section 8, below. (vii) Representations and Warranties. All representations and warranties of Seller contained in this Agreement shall be materially true and correct as of the date made and as of the Closing. (viii) Title Company Confirmation. The Title Company shall have confirmed that it is prepared to issue the Buyer's Title Policy consistent with the provisions of this Agreement. WA (ix)Oversi,ght Board and DOF Approval. The Oversight Board and, if required as a condition of the issuance of title insurance or by either party hereto, approval by DOF, shall have been given as to the disposition of the Real Property by Seller to Buyer under this Agreement. (x) No Default. As of the Closing, Seller shall not be in default in the performance of any material covenant or agreement to be performed by Seller under this Agreement. (b) Termination Rigtlt. Each of (i), (ii) and (iii) shall operate independently and each shall entitle Seller to terminate this Agreement, as follows: (i) If the Independent Consideration Amount is not paid by Buyer to Seller by the Initial by the time set forth therefor in Section 3(b)(i) of this Agreement, then this Agreement shall terminate upon Seller giving notice thereof to Buyer; (ii) If any of Buyer's Contingencies are not met by the Closing Contingency Date, and Seller so informs Buyer, Buyer may, by written notice to Seller, terminate this Agreement. If this Agreement is so terminated, then (except to the extent expressly allocated to one party hereto by this Agreement) any escrow, title or other cancellation fees shall be paid by Buyer, unless Seller is in default hereunder, in which case Seller shall pay all such fees. If the Agreement has not been terminated pursuant to (i) or (ii) of this Section 6(b) and Buyer has not terminated this Agreement in writing ("Termination Notice") on or before 5:00 p.m. on the Monday preceding the scheduled Closing ("Termination Notice Deadline"), then all such Buyer's Contingencies shall be deemed to have been satisfied and this Agreement shall continue pursuant to its terms. If Buyer has not delivered a Termination Notice as the items set forth in Sections 6(a)(i)-(xi) inclusive, prior to the Termination Notice Deadline, such Buyer's Contingencies shall be deemed to have been satisfied. If this Agreement is terminated, then (except to the extent expressly allocated to one party hereto by this Agreement) any escrow, title or other cancellation fees shall be paid by Buyer, unless Seller is in default hereunder, in which case Seller shall pay all such fees. (c) Seller's Cure Ri,frt. Buyer shall notify Seller, in Buyer's Termination Notice, of Buyer's disapproval or conditional approval of any Title Documents. Seller shall then have the right, but not the obligation, to (i) remove from title any disapproved or conditionally approved Exception(s) (or cure such other title matters that are the basis of Buyer's disapproval or conditional approval of the Title Documents) within five (5) business days after Seller's receipt of Buyer's Termination Notice, or (ii) provide assurances reasonably satisfactory to Buyer that such Exception(s) will be removed (or other matters cured) on or before the Closing. With respect to any such Exception, it shall be sufficient for purposes hereof for Seller to commit in writing, within the applicable period, to remove such Exception at or before the Closing. Seller's failure to remove such Exception after committing to do so shall be a default hereunder. An Exception shall be deemed removed or cured if Seller furnishes Buyer with evidence that the Title Company will issue the Buyer's Title Policy, as defined herein, at the Closing deleting such Exception or providing an endorsement (at Seller's expense) reasonably satisfactory to Buyer concerning such Exception. If Seller cannot or does not remove or agree to remove any of the disapproved Exception(s) (or cure other matters) within such five (5) business day period, Buyer shall have three (3) business days after the expiration of such five (5) business day period to give Seller written notice that Buyer elects to proceed with the purchase of 8 the Real Property subject to the disapproved Title Document(s), it being understood that Buyer shall have no further recourse against Seller for such disapproved Title Exception(s). 7. Seller's Conditions Precedent and Termination Right. The Closing and Seller's obligations with respect to the transaction contemplated by this Agreement are subject to the timely satisfaction or written waiver of the following condition precedent ("Seller's Contingencies"), which are for Seller's benefit only: (a) Completion of Title Review. Seller shall have received written confirmation from Buyer on or before the Soil and Title Contingency Date that Buyer has completed its review of title and that the condition of title satisfactory. (b) Confirmation Concerning Site. Seller shall have received written confirmation from Buyer on or before the Soil and Title Contingency Date that Buyer has reviewed the condition of the Real Property, including without limitation concerning Hazardous Materials, zoning and suitability, and approves the condition of the Real Property. (c) Confirmation Regarding Buyer's Title Policy. Seller shall have received written confirmation from Buyer on or before the Soil and Title Contingency Date that Buyer has approved a pro forma title policy. (d) Liens. Seller shall have obtained the consent of any lien holder to the release of such liens prior to or concurrent with closing. (e) Oversight Board and DOF Approval. The approval by the Oversight Board and DOF shall have been given as to the disposition of the Real Property by Seller to Buyer under this Agreement. (f) Dehyely of Documents. Buyer's delivery of all documents described in Section 9(a), below. Should any of Buyer's Contingencies not be met by the respective times set forth for the satisfaction for such contingency (and without regard to whether all such contingencies have been removed or satisfied) and Buyer has so informed Seller, Seller may, by written notice to Buyer, terminate this Agreement; such termination rights shall be in addition to those termination rights of Seller as set forth in Section 6. If this Agreement is so terminated, then (except to the extent expressly allocated to one party hereto by this Agreement) any escrow, title or other cancellation fees shall be paid by Buyer. 8. Seller's Deliveries to Escrow Holder. (a) Seller's Delivered Documents. At least one (1) business day prior to the Closing Date, Seller shall deposit or cause to be deposited with Escrow Holder the following items, duly executed and, where appropriate, acknowledged ("Seller's Delivered Items"): (i) Deed. The Deed. (ii) FIRPTA/Tax Exemption Forms. The Transferor's Certification of Non -Foreign Status in the form attached hereto as Exhibit C (the "FIRPTA Certificate"), together 6 with any necessary tax withholding forms, and a duly executed California Form 593-C, as applicable (the "California Exemption Certificate"). (iii)Hazard Disclosure Report. Unless earlier delivered to Buyer, Seller shall cause Escrow Holder to obtain and deliver to Buyer, at Seller's cost, a Natural Hazard Report as provided for under Sections 1102 and 1103 of the California Civil Code (the "Natural Hazard Report") before the Closing. (iv) Possession of Real Property. Possession of the Real Property free of any tenancies or occupancy. (v) Authority. Such evidence of Seller's authority and authorization to enter into this Agreement and to consummate this transaction as may be reasonably requested by Buyer and the Title Company which are consistent with the terms of this Agreement. (vi) Further Documents or Items. Any other documents or items reasonably required to close the transaction contemplated by this Agreement as determined by the Title Company which are consistent with the terms of this Agreement. (b) Failure to Deliver. Should any of Seller's Delivered Items not be timely delivered to Escrow, Buyer may, by written notice to Seller, terminate this Agreement; provided, however, that Buyer may (but shall not be obligated to) in such notice provide Seller with five (5) business days to deliver all of Seller's Delivered Items. If Buyer's notice provides Seller such five (5) business days to deliver Seller's Delivered Items, and if Seller's Delivered Items are not delivered within such period, then this Agreement shall automatically terminate without further action or notice. In the event of any such termination, any cash deposited by Buyer shall immediately be returned to Buyer. Under no circumstances shall Buyer have any responsibility to or duty to pay consultants or real estate brokers retained by Seller, Seller being solely responsible in connection with any such contractual arrangements of Seller. 9. Buyer's Deliveries to Escrow. At least one (1) business day prior to the Closing Date, Buyer shall deposit or cause to be deposited with Escrow Holder the following, each duly executed and acknowledged, by Buyer as appropriate ("Buyer's Delivered Items"): (a) Purchase Price. The Purchase Price, less amounts which Seller confirms in writing to Escrow Holder were theretofore paid to Seller as the Independent Consideration Amount, together with additional funds as are necessary to pay Buyer's closing costs set forth in Section 10(b) herein. In the event Seller does not qualify for an exemption from California withholding tax under Section 18662 of the California Revenue and Taxation Code, as evidenced by the delivery at Closing of the California Exemption Certificate duly executed by Seller, Title Company shall withhold three and one-third percent (3-1/3%) of the Purchase Price on behalf of Buyer for payment to the California Franchise Tax Board in accordance with Section 11(b) hereof. In the event Seller is not exempt from such withholding or does not otherwise deliver the California Exemption Certificate at Closing, Buyer shall execute and deliver three (3) originals of California Form 593 to Title Company at or immediately after Closing. Report. (b) Change of Ownership Report. One (1) original Preliminary Change of Ownership 10 (c) Final Escrow Instructions. Buyer's final written escrow instructions to close escrow in accordance with the terms of this Agreement. (d) Authority. Such proof of Buyer's authority and authorization to enter into this Agreement and to consummate the transaction contemplated hereby as may be reasonably requested by Seller or the Title Company. (e) Moneys for BMyer's Real Estate Broker. Buyer shall deposit any moneys due and payable to Buyer's Real Estate Broker in connection with the sale of the Real Property. (f) Further Documents or items. Any other documents or items reasonably required to close the transaction contemplated by this Agreement as determined by the Title Company. 10. Costs and Expenses. (a) Seller's Costs. If the transaction contemplated by this Agreement is consummated, then Seller shall be debited for and bear the following costs: (i) costs and charges associated with the removal of encumbrances; (ii) Seller's share of proration; (iii) the premium for a Standard Buyer's Title Policy with coverage in the amount of the Purchase Price; (iv) documentary recording fees, if any; (v) documentary transfer tax, if any, (vi) The Seller's Real Estate Broker's Commission of Thirteen Thousand One Hundred Dollars ($13,100) which the parties acknowledge and agree that at Close of Escrow, Seller shall pay Seller's Real Estate Broker's Commission for sale of the Property in accordance with Seller's listing agreement with Seller's Real Estate Broker and that the broker's commission shall be divided equally between Buyer's Real Estate Broker and Seller's Real Estate Broker; (vii) one half of the escrow charges; and (viii) costs, if any, allocable to Seller under this Agreement and costs for such services as Seller may additionally request that Escrow perform on its behalf (which foregoing items collectively constitute "Seller's Costs and Debited Amounts"). (b) Buyer's Costs. If the transaction contemplated by this Agreement is consummated, then Buyer shall bear the following costs and expenses: (i) the Escrow Holder's fee; (ii) Buyer's share of proration, (iii) the premium for title insurance other than or in excess of a Standard Buyer's Title Policy based on the Purchase Price, and, if applicable, the cost for any survey required in connection with the delivery of an ALTA owner's extended coverage policy of title insurance; (iv) one half of escrow charges; (v) recording and other costs of closing; (vi) costs, if any, for such services as Buyer may additionally request that Escrow perform on its behalf, and (vii) any costs associated with Buyer borrowing money in order to pay to Seller the Purchase Price (collectively, `Buyer's Costs and Debited Amounts"). (c) Generali. Each party shall bear the costs of its own attorneys, consultants, and real estate brokers, other than broker's commission, in connection with the negotiation and preparation of this Agreement and the consummation of the transaction contemplated hereby. The parties acknowledge and agree that at Close of Escrow, Seller shall pay Seller's Real Estate Broker's Commission for sale of the Property in accordance with Seller's listing agreement with Seller's Real Estate Broker and that the broker's commission shall be divided equally between Buyer's Real Estate Broker and Seller's Real Estate Broker. 11 11. Proration: Withholdin �. (a) All revenues (if any) and expenses relating to the Real Property (including, but not limited to, property taxes, utility costs and expenses, water charges and sewer rents and refuse collection charges) shall be prorated as of the Closing Date; provided that all delinquent taxes shall be satisfied at the expense of Seller. Not less than five (5) business days prior to the Closing, Seller shall deliver to Buyer a tentative schedule of prorations for Buyer's approval (the "Proration and Expense Schedule"). If any prorations made under this Section shall require final adjustment after the Closing, then the parties shall make the appropriate adjustments promptly when accurate information becomes available and either party hereto shall be entitled to an adjustment to correct the same. Any corrected or adjustment proration shall be paid promptly in cash to the party entitled thereto. (b) In the event Seller does not qualify for an exemption from California withholding tax under Section 18662 of the California Revenue and Taxation Code (the "Tax Code") as evidenced by the delivery to Buyer at Closing of the California Exemption Certificate duly executed by Seller, (i) Title Company shall withhold three and one-third percent (3-1/3%) of the Purchase Price on behalf of Buyer at Closing for payment to the California Franchise Tax Board in accordance with the Tax Code, (ii) Buyer shall deliver three (3) duly executed copies of California Form 593 to Title Company at or immediately after Closing, (iii) two (2) copies of California Form 593 shall be delivered by Title Company to Seller, and (iv) on or before the 20'b day of the month following the month title to the Real Property is transferred to Buyer (as evidenced by the recording of the Grant Deed), Title Company shall remit such funds withheld from the Purchase Price, together with one (1) copy of California Form 593 to the California Franchise Tax Board on behalf of Buyer. Buyer and Seller hereby appoint Title Company as a reporting entity under the Tax Code, authorized to withhold and remit the withholding tax contemplated under the Tax Code, together with such other documents required by the Tax Code (including, without limitation, California Form 593), to the California Franchise Tax Board. 12. Closin r Procedure. When the Title Company is unconditionally prepared (subject to payment of the premium therefor) to issue the Buyer's Title Policy and all required documents and funds have been deposited with Escrow Holder, Escrow Holder shall immediately close Escrow in the manner and order provided below. (a) Recording. Escrow Holder shall cause the Deed to be recorded pursuant to applicable law in the county in which the Real Property is located and obtain conformed copies thereof for distribution to Buyer and Seller. (b) Disburse Funds. Escrow Holder shall debit or credit (as provided herein) all Buyer's Costs and Debited Amounts, Seller's Costs and Debited Amounts and General Expenses, prorate matters and withhold funds as provided herein. The Purchase Price, less any applicable debits or credits (including any liens as to which such liens and the amount to satisfy such liens shall have been confirmed in writing by Seller to Escrow Holder) shall be distributed by check payable to Seller unless Escrow Holder is instructed otherwise in writing signed by Seller (and, in such event, in accordance with such instructions). Seller authorizes Escrow Holder to request demands for payment and to make such payments from the Purchase Price (or such other funds, if any, as are advanced by Seller) to defray the cost of removing deeds of trust, liens and other encumbrances (but not for obligations of Buyer). Escrow Holder shall disburse on behalf of Buyer such moneys as are deposited by Buyer (in addition to the Purchase Price and Buyer's share of closing costs) as the commission for 12 Buyer's Real Estate Broker (unless Buyer's Real Estate Broker shall deliver a written statement to Escrow Holder which indicates that Buyer has arranged to pay Buyer's Real Estate Broker outside escrow and that payment of such remuneration is a matter with respect to which Escrow Holder and Seller need not be concerned). (c) Documents to Seller. Escrow Holder shall deliver to Seller a conformed copy of the Deed, and documents, if any, recorded on behalf of any lender, as duly recorded among the official land records of the County of San Bernardino, and a copy of each other document (or copies thereof) deposited into Escrow by Buyer pursuant hereto. (d) Documents to Buyer. Escrow Holder shall deliver to Buyer the original FIRPTA Certificate, the original California Exemption Certificate (as applicable), and a conformed copy of each of the Deed as duly recorded among the official land records of the County of San Bernardino, the Natural Hazard Report, and each other document (or copies thereof) deposited into Escrow by Seller pursuant hereto, including, without limitation, those documents referenced in Section 8. (e) Title Company. Escrow Holder shall cause the Title Company to issue the Buyer's Title Policy to Buyer. (f) Closing Statement. Escrow Holder shall forward to both Buyer and Seller a separate accounting of all funds received and disbursed for each party. (g) Informational Report . Escrow Holder shall file any information reports required by Internal Revenue Code Section 6045(e), as amended. (h) Possession. Possession of the Real Property shall be delivered to Buyer at the Closing. 13. Representations and Warranties. (a) Seller's Representations and Warranties. In consideration of Buyer entering into this Agreement and as an inducement to Buyer to purchase the Real Property, Seller makes the following representations and warranties as of the Effective Date and as of the Closing, each of which is material and is being relied upon by Buyer (and the truth and accuracy of which shall constitute a condition precedent to Buyer's obligations hereunder), and all of which are material inducements to Buyer to enter into this Agreement (and but for which Buyer would not have entered into this Agreement) and shall survive Closing; provided that each of the representations and warranties of Seller is based upon the information and belief of the Executive Director of the Successor Agency: (i) Seller believes that it has the legal power, right and authority to enter into this Agreement and the instruments referenced herein, and to consummate the transaction contemplated subject to the approval of the Oversight Board and, as may be applicable, DOR (ii) Subject to the approval of the Oversight Board and, as may be applicable, DOF, Seller believes that all requisite action (corporate, trust, partnership or otherwise) has been taken by Seller in connection with entering into this Agreement and the instruments referenced herein; and, by the Closing, all such necessary action will have been taken to authorize the consummation of the transaction contemplated hereby. 13 (iii)Subject to the approval of the Oversight Board and, as may be applicable, DOF, the individual executing this Agreement and the instruments referenced herein on behalf of Seller has the legal power, right and actual authority to bind Seller to the terms and conditions hereof and thereof. (iv) Seller believes that neither the execution or delivery of this Agreement or the documents or instruments referenced herein, nor incurring the obligations set forth herein, nor the consummation of the transaction contemplated herein, nor compliance with the terms of this Agreement or the documents or instruments referenced herein or therein conflict with or result in the material breach of any terms, conditions or provisions of, or constitute a default under, any bond, note or other evidence of indebtedness or any contract, indenture, mortgage, deed cif trust, loan, lease or other agreement or instrument to which Seller is a party or that affect the Real Property, including, but not limited to, any of the Title Documents or the Property Documents. (v) There is no pending litigation nor, to the best of Seller's knowledge, threatened litigation, which does or will adversely affect the right of Seller to convey the Real Property. There are no claims which have been received by Seller that have not been disclosed to Buyer. (vi) Seller has made no written or oral commitments to or agreements with any governmental authority or agency materially and adversely affecting the Real Property, or any part hereof, or any interest therein, which will survive the Closing. (vii) There are no leases or rental agreements in effect as to the Real Property. (viii) Seller is not in default of its obligations under any contract, agreement or instrument to which Seller is a party pertaining to the Real Property. (ix) There are no mechanics', materialmen's or similar claims or liens presently claimed or which will be claimed against the Real Property for work performed or commenced for Seller or on Seller's behalf prior to the date of this Agreement. (x) There are no undisclosed contracts, licenses, commitments, undertakings or other written or oral agreements for services, supplies or materials concerning the use, operation, maintenance, or management of the Real Property that will be binding upon Buyer or the Real Property after the Closing. There are no oral contracts or other oral agreements for services, supplies or materials, affecting the use, operation, maintenance or management of the Real Property. (xi) There are not as of the Effective Date, nor will there be as of the Closing, any written or oral leases or contractual right or option to lease, purchase, or otherwise enjoy possession, rights or interest of any nature in and to the Real Property or any part thereof, and no person other than Buyer shall have any right of possession to the Real Property or any part thereof as of the Closing. (xii) No person, excepting Seller, has possession or any rights to possession of the Real Property or portion thereof. 14 (b) Subsequent Changes to Seller's Representations and Warranties. If, prior to the Closing, Buyer or Seller should learn, discover or become aware of any existing or new item, fact or circumstance which renders a representation or warranty of Seller set forth herein incorrect or untrue in any respect (collectively, the "Seller Representation Matter"), then the party who has learned, discovered or become aware of such Representation Matter shall promptly give written notice thereof to the other party and Seller's representations and warranties shall be automatically limited to account for the Representation Matter. Buyer shall have the right to approve or disapprove any such change and to terminate this Agreement by written notice to Seller if Buyer reasonably disapproves any such change. If Buyer does not elect to terminate this Agreement, Seller's representation shall be qualified by such Seller Representation Matter and Seller shall have no obligation to Buyer for such Seller Representation Matter. (c) Butt er's Representations and Warranties. In consideration of Seller entering into this Agreement and as an inducement to Seller to sell the Real Property, each of Buyer One and Buyer Two makes the following representations and warranties as of the date hereof and at and as of the Closing, each of which is material and is being relied upon by Seller (and the truth and accuracy of which shall constitute a condition precedent to Seller's obligations hereunder), and all of which shall survive Closing: (i) Buyer has the legal power, right and authority to enter into this Agreement and the instruments referenced herein, and to consummate the transaction contemplated hereby. (ii) All requisite action has been taken by Buyer in connection with entering into this Agreement and the instruments referenced herein; and, by the Closing, all such necessary action will have been taken to authorize the consummation of the transaction contemplated hereby. (iii)The individuals executing this Agreement and the instruments referenced herein on behalf of Buyer have the legal power, right and actual authority to bind Buyer to the terms and conditions hereof and thereof. (iv) Neither the execution and delivery of this Agreement and the documents and instruments referenced herein, nor incurring the obligations set forth herein, nor the consummation of the transaction contemplated herein, nor compliance with the terms of this Agreement and the documents and instruments referenced herein conflict with or result in the material breach of any terms, conditions or provisions of, or constitute a default under, any bond, note or other evidence of indebtedness or any contract, indenture, mortgage, deed of trust, loan, partnership agreement, lease or other agreement or instrument to which Buyer is a party or by which any of Buyer's properties are bound. (d) Subsequent Changes to Buyer's Representations and Warranties. If, prior to the Closing, Seller or Buyer should learn, discover or become aware of any existing or new item, fact or circumstance which renders a representation or warranty of Buyer set forth herein incorrect or untrue in any respect (collectively, the `Buyer's Representation Matter"), then the party who has learned, discovered or become aware of such Buyer's Representation Matter shall promptly give written notice thereof to the other party and Buyer's representations and warranties shall he automatically limited to account for the Buyer's Representation Matter. Seller shall have the right to approve or disapprove any such change and to terminate this Agreement by written notice to Buyer if Seller reasonably disapproves any such change. If Seller does not elect to terminate this Agreement, Buyer's 15 representation shall be qualified by such Buyer's Representation Matter and Buyer shall have no obligation to Seller for such Buyer's Representation Matter. 14. Fair Value Price. Each of Buyer and Seller believe that the Purchase Price represents a fair value price for the Real Property. At such time as Buyer makes improvements to the Real Property, the costs for planning, designing, and constructing such improvements shall be borne exclusively by the Buyer and the Buyer shall construct or cause to be constructed such improvements in compliance with all the zoning, planning and design review requirements of the San Bernardino Municipal Code, and all nondiscrimination, labor standard, and wage rate requirements to the extent such labor and wage requirements are applicable. Buyer, including but not limited to its contractors and subcontractors, shall be responsible to comply with Labor Code Section 1720, et seq., if applicable, and its implementing regulations, regarding the payment of prevailing wages (the "State Prevailing Wage Law"), if applicable, and, if applicable, federal prevailing wage law ("Federal Prevailing Wage Law" and, together with State Prevailing Wage Law, "Prevailing Wage Laws") with regard to the construction of improvements to the Real Property, but only if and to the extent such sections are applicable to the development of the Real Property. Insofar as the parties understand that Buyer is paying a fair market price for the Real Property, the parties believe that the payment of prevailing wages will not be required. In any event, Buyer shall be solely responsible for determining and effectuating compliance with the Prevailing Wage Laws, neither the Seller nor the City makes any final representation as to the applicability or non -applicability of the Prevailing Wage Laws to improvements to the Real Property, or any part thereof. Buyer hereby releases from liability, and agrees to indemnify, defend, assume all responsibility for and hold each of the Seller and the City, and their respective officers, employees, agents and representatives, harmless from any and all claims, demands, actions, suits, proceedings, fines, penalties, damages, expenses resulting from, arising out of, or based upon Buyer's acts or omissions pertaining to the compliance with the Prevailing Wage Laws as to the Real Property. This Section 14 shall survive Closing. 15. General Provisions. (a) Condemnation. If any material portion of the Real Property shall be taken or appropriated by a public or quasi -public authority exercising the power of eminent domain, Buyer shall have the right, at its option, to (i) terminate this Agreement or (ii) proceed with the purchase of the Real Property and receive all of the award or payment made in connection with such taking. (b) Notices. All notices, demands, requests or other communications required or permitted hereunder (collectively, "Notices") shall be in writing, shall be addressed to the receiving party as provided in the Basic Terms section above, and shall be personally delivered, sent by overnight mail (Federal Express or another carrier that provides receipts for all deliveries), sent by certified mail, postage prepaid, return receipt requested, or sent by facsimile transmission (provided that a successful transmission report is received). All Notices shall be effective upon receipt at the appropriate address. Notice of change of address shall be given by written notice in the manner detailed in this Section. Rejection or other refusal to accept or the inability to deliver because of changed address of which no Notice in accordance with this Section was given shall be deemed to constitute receipt of such Notice. The providing of copies of Notices to the parties' respective counsels is for information only, is not required for valid Notice and does not alone constitute Notice hereunder. 16 (c) Brokers. Seller assumes sole responsibility for any consultants or brokers ("Seller's Agents") it may have retained in connection with the sale of the Real Property (and Buyer shall have no responsibility in connection with such matters). Seller represents that it has engaged Keller Williams Realty as "Seller's Real Estate Broker" and that Seller shall be solely responsible for any commission, cost, fee or compensation of any kind due to Seller's Real Estate Broker. Seller represents to Buyer that Seller has not engaged any consultants, finders or real estate brokers other than Seller's Real Estate Broker in connection with the sale of the Real Property to the Buyer, and there are no brokerage commission, finder's fee or other compensation of any kind due or owing to any person or entity in connection with this Agreement other than Seller's costs with respect to the Seller's Real Estate Broker Commission. Seller agrees to and does hereby indemnify and hold the Buyer free and harmless from and against any and all costs, liabilities or causes of action or proceedings which may be instituted by any broker, agent or finder, licensed or otherwise, claiming through, under or by reason of the conduct of the Seller in connection with this Agreement. Buyer assumes sole responsibility for any consultants or brokers ("Buyer's Agents") it may have retained in connection with the purchase of the Real Property. Buyer represents that it has engaged Hilgenberg Realty, Inc. as "Buyer's Real Estate Broker" and other than the portion of the Seller's Real Estate Broker's Commission that is payable to the Buyer's Real Estate Broker per Section 10(a) of this Agreement, Buyer shall be solely responsible for any other cost, fee or compensation of any kind due to Buyer's Real Estate Broker, if any. Buyer represents to Seller that Buyer has not engaged any consultants, finders or real estate brokers other than Buyer's Real Estate Broker in connection with the sale of the Real Property to the Buyer, and there are no brokerage commission, finder's fee or other compensation of any kind due or owing to any person or entity in connection with this Agreement. Buyer agrees to and does hereby indemnify and hold the Seller free and harmless from and against any and all costs, liabilities or causes of action or proceedings which may be instituted by any broker, agent or finder, licensed or otherwise, claiming through, under or by reason of the conduct of the Buyer in connection with this Agreement. The Parties acknowledge and agree that Buyer has been represented in this transaction by Hilgenberg Realty, Inc. as `Buyer's Real Estate Broker." At Close of Escrow, Seller shall pay Seller's Real Estate Broker's Commission for sale of the Property in accordance with Seller's listing agreement with Seller's Real Estate Broker. The broker's commission shall be divided equally between Buyer's Real Estate Broker and Seller's Real Estate Broker. (d) Waiver Consent and Remedies. Each provision of this Agreement to be performed by Buyer and Seller shall be deemed both a covenant and a condition and shall be a material consideration for Seller's and Buyer's performance hereunder, as appropriate, and any breach thereof by Buyer or Seller shall be deemed a material default hereunder. Either party may specifically and expressly waive in writing any portion of this Agreement or any breach thereof, but no such waiver shall constitute a further or continuing waiver of a preceding or succeeding breach of the same or any other provision. A waiving party may at any time thereafter require further compliance by the other party with any breach or provision so waived. The consent by one party to any act by the other for which such consent was required shall not be deemed to imply consent or waiver of the necessity of obtaining such consent for the same or any similar acts in the future. No waiver or consent shall be implied from silence or any failure of a party to act, except as otherwise specified in this Agreement. All rights, remedies, undertakings, obligations, options, covenants, conditions and agreements contained in this Agreement shall be cumulative and no one of them shall be exclusive of any other. Except as otherwise specified herein, either party hereto may pursue any one or more of its rights, options or remedies hereunder or may seek damages or specific performance in the event of the other party's breach hereunder, or may pursue any other remedy at law or equity, whether or not stated in this Agreement. 17 (e) Cooperation. Buyer and Seller agree to execute such instruments and documents and to diligently undertake such actions as may be required in order to consummate the purchase and sale herein contemplated and shall use all reasonable efforts to accomplish the Closing in accordance with the provisions hereof and, following Closing. (i) Remedies. Without limitation as to the availability of other remedies, this Agreement may be enforced by an action for specific enforcement. (g) Time. Time is of the essence of every provision herein contained. In the computation of any period of time provided for in this Agreement or by law, the day of the act or event from which said period of time runs shall be excluded, and the last day of such period shall be included, unless it is a Saturday, Sunday, or legal holiday, in which case the period shall be deemed to run until 5:00 p.m. of the next day that is not a Saturday, Sunday, or legal holiday. Except as otherwise expressly provided herein, all time periods expiring on a specified date or period herein shall be deemed to expire at 5:00 p.m. on such specified date or period. (h) Counterparts; Facsimile Signatures. This Agreement may be executed in multiple counterparts, each of which shall be deemed an original, but all of which, together, shall constitute but one and the same instrument. A facsimile signature shall be deemed an original signature. (i) Captions. Any captions to, or headings of, the sections or subsections of this Agreement are solely for the convenience of the parties hereto, are not a part of this Agreement, and shall not be used for the interpretation or determination of the validity of this Agreement or any provision hereof. 0) Obligations to Third Parties. City shall be deemed to be a third -party beneficiary of this Agreement. Excepting only for the City, the execution and delivery of this Agreement shall not be deemed to confer any rights upon, nor obligate any of the parties to this Agreement to, any person or entity other than the parties hereto. (k) Amendment to this Agreement. The terms of this Agreement may not be modified or amended except by an instrument in writing executed by each of the parties hereto. (1) Waiver. The waiver or failure to enforce any provision of this Agreement shall not operate as a waiver of any future breach of any such provision or any other provision hereof. (m) Annlicable Law. This Agreement shall be governed by and construed in accordance with the local law of the State of California. (n) Exhibits and Schedules. The exhibits and schedules attached hereto are incorporated herein by this reference for all purposes. (o) Entire Agreement. This Agreement supersedes any prior agreements, negotiations and communications, oral or written, including, without limitation, that certain Standard Offer, Agreement and Escrow Instructions for Purchase of Real Estate dated December 22, 2017, and contains the entire agreement between, and the final expression of, Buyer and Seller with respect to the subject matter hereof. The parties hereto expressly agree and confirm that this Agreement is executed without reliance on any oral or written statements, representations or promises of any kind which are not expressly contained in this Agreement. No subsequent agreement, representation or 18 promise made by either party hereto, or by or to an employee, officer, agent or representative of either party hereto shall be of any effect unless it is in writing and executed by the party to be bound thereby. (p) Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the permitted successors and assigns of the parties hereto. (c) Assignment. Neither party may assign its rights under this Agreement without the prior consent of the other party. (r) Joint and Several Liability. Each of Buyer One and Buyer Two shall be jointly and severally responsible for performance by Buyer under this Agreement. (s) Notice. Notice to Buyer One or Buyer Two shall be deemed to constitute notice to each of Buyer One, Buyer Two and Buyer. [signatures begin on the following page] 19 IN WITNESS WIIEREOF, the parties hereto have executed this Agreement as of the day and year first written above. "SELLER" SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, a public entity, corporate and politic Andrea M. Miller Executive Director Approved as to form: Gary D. Saenz, City Attorney 0 "BUYER" Brother's Home Trading Corporation, a California corporation Name: Its: rr� Raziuh Investments Corporation, a California corporation By: Name: '•�y� o.� Its: CEo 20 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. "SELLER" CITY OF SAN BERNARDINO ACTING AS THE SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, a public entity, corporate and politic i By: -- Andrea M. Miller Executive Director Approved as to form: Gary D. Saenz, City Attorney i By: ��rz "BUYER" Brother's Home Trading Corporation, a California corporation By: -- Name.- Its: ame:Its: — Raziuh Investments Corporation, a California corporation By. — Name: Its: 20 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first written above. "SELLER" SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO, a public entity, corporate and politic Andrea M. Miller Executive Director Approved as to form: Gary D. Saenz, City Attorney I� "BUYER" Brother's Home Trading Corporation, a California corporation r Name: IL/&f. Its: ^�rp Raziuh Investments Corporation, a California corporation By:� Name: 0 i Its: G 20 Acceptance by Escrow Holder: Commonwealth Land and Title Company hereby acknowledges that it has received a fully executed copy of the foregoing Purchase and Sale Agreement and Joint Escrow Instructions by and between the Successor Agency to the Redevelopment Agency of the City of San Bernardino, a public entity, corporate and politic ("Seller"), and Brother's Home Trading Corporation / Raziuh Investments Corporation (`Buyer") and agrees to act as Escrow Holder thereunder and to be bound by and strictly perform the terms thereof as such terms apply to Escrow Holder. Dated: , 2018 COMMONWEALTH LAND AND TITLE COMPANY By:_ Name: Its: EXIMEIT A LEGAL DESCRIPTION THE FOLLOWING DESCRIBED REAL PROPERTY IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA: LOT 25, BLOCK `B", WALNUT PARK, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 21 PAGES 49 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. Address: 207/207-%z E. 10* Street APN: 0140-171-16 A-1 RECORDING REQUESTED BY AND WHEN RECORDED MAIL TO: Raziuh Investments Corporation 15419 Canyonstone Dr. Moreno Valley, CA 92551 Attn: Orlando Huizar APNs: 0140-171-16 EXHIBIT B DEED [Space above for recorder.] DOCUMENTARY TRANSFER TAX computed on the consideration or value of property conveyed, OR computed on the consideration or value less liens or encumbrances remaining at time of sale. Signature of Declarant or Agent determining tax - Firm Name GRANT DEED FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the Successor Agency to the Redevelopment Agency of the City of San Bernardino, a public entity, corporate and politic ("Grantor"), hereby grants to Brother's Home Trading Corporation, a California corporation and Raziuh Investments Corporation, a California corporation ("Grantee"), that certain real property located in the County of San Bernardino, State of California, more particularly described on Attachment No. 1 attached hereto and incorporated herein by this reference (the "Property"), subject to existing easements, restrictions and covenants of record. IN WITNESS WHEREOF, Grantor has executed this Grant Deed as of , 2018. SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF SAN BERNARDINO LIN Andrea M. Miller Executive Director Im ATTACEMlENT NO.1 TO GRANT DEED LEGAL DESCRIPTION THE FOLLOWING DESCRIBED REAL PROPERTY IN TBE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA: LOT 25, BLOCK `B", WALNUT PARK, IN THE CITY OF SAN BERNARDINO, COUNTY OF SAN BERNARDINO, STATE OF CALIFORNIA, AS PER MAP RECORDED IN BOOK 21 PAGES 49 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. Address: 207/207-%z E. 10 h Street APN: 0140-171-16 ATTACHMENT NO. 1 TO GRANT DEED TO EXMIT B A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. STATE OF CALIFORNIA COUNTY OF On personally appeared , before me, ss. (Print Name of Notary Public) , Notary Public, who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. igna ure of Notary Public OPTIONAL Though the data below is not required by law, it may prove valuable to persons relying on the document and could prevent fraudulent reattachment of'this form. CAPACITY CLAIMED BY SIGNER ❑ Individual ❑ Corporate Officer Title(s) ❑ Partner(s) ❑ Limited ❑ General ❑ Attorney -In -Fact ❑ Trustee(s) ❑ Guardian/Conservator ❑ Other: Signer is representing: Name Of Person(s) Or Entity(ies) DESCRIPTION OF ATTACHED DOCUMENT Title Or Type Of Document Number Of Pages Date Of Documents Other Than Named Above EXHIBIT C FIRPTA CERTIFICATE TRANSFEROR'S CERTIFICATE OF NON -FOREIGN STATUS To inform Brother's Home Trading Corporation and Raziuh Investments Corporation (the "Transferee"), that withholding of tax under Section 1445 of the Internal Revenue Code of 1986, as amended ("Code") will not be required upon the transfer of certain real property to the Transferee by the Successor Agency to the Redevelopment Agency of the City of San Bernardino (the "Transferor"), the undersigned hereby certifies the following: 1. The Transferor is not a foreign person or citizen, foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Code and the Income Tax Regulations promulgated thereunder); 2. The Transferor's social security number or U.S. employer identification number is as follows: 3. The Transferor's home or office address is: 290 North "D" Street San Bernardino, CA 92401 The Transferor understands that this certification may be disclosed to the Internal Revenue Service by the Transferee and that any false statement contained herein could be punished by fine, imprisonment or both. Under penalty of perjury, I declare that I have examined this certification and to the best of my knowledge and belief it is true, correct and complete, and I further declare that I have authority to sign this document. Successor Agency to the Redevelopment Agency of the City of San Bernardino C-1