HomeMy WebLinkAbout00535C - THOMAS WHITE AND YOLANDA M GANT AGR FOR PURCHASE AND SALE DOC # 2008-0444420
08/13/2008 08:00R Fee:13.00
Page 1 of 2
Recorded in Official Records
County of Riverside
AND WHEN RECORDED MAIL TO: L Coun W. ward
Assessor, County Clerk & Recorder
COMMUNITY REDEVELOPMENT AGENCY I(IIII IIIIII II III IIII I(IIII(IIII III IIII IIII III
OF THE CITY OF PALM SPRINGS
Post Office Box 2743
Palm Springs, California 92263-2743 s R U I PAGE I SIZE DA MISC LONG RFD COPY
Alm' � 1
d/Chuckwa lle MI A L 465 426 PCOR':% CAttention: Cottonw z
NCOR SMF NCHG Exam
Affordable Housing Program
Escrow #: 36461-KK 15
SUBSTITUTION OF TRUSTEE AND FULL RECONVEYANCE 809
The undersigned, THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a
public body, corporate and politic, present Beneficiary, as owner and holder of the Note secured by Deed of
Trust dated February 18, 2003, made by THOMAS WHITE AND YOLANDA M. GANT, as Trustor, whose
address is 945 E. Cottonwood Road, Palm Springs, CA 92262, to FIRST AMERICAN TITLE INSURANCE
COMPANY, a California Corporation as original Trustee, for THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS, a public body, corporate and politic
as Beneficiary, which Deed of Trust was recorded February 26, 2003, as Instrument Number 2003-132358
Official Records of Riverside County, California,
hereby appoints and substitutes THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM
SPRINGS, a public body, corporate and politic as Trustee in lieu of the Trustee therein.
As such duly appointed and substituted Trustee, THE COMMUNITY REDEVELOPMENT AGENCY OF THE
CITY OF PALM SPRINGS, a public body, corporate and politic accepts said appointment as Trustee under
the above Deed of Trust, and as successor Trustee, in accordance with the provisions of said Deed of Trust,
does hereby reconvey without warranty,to the person or persons legally entitled thereto,all the estate,
title and interest now held by said Trustee under said Deed of Trust. All sums secured by said Deed
of Trust have been fully paid and satisfied. Wherever the text of this document so requires, the singular
includes the plural.
In witness whereof, the owner and holder above named, and THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS, a public body, corporate and politic as successor Trustee, has
caused this rinstrument to be executed.
Date: juIV a�, aGos Successor Trustee, Community Redevelopment Agency
Appro o Form: n yl if
David H. R ady, Executive 15inbctor —
Douglas Holland, Agency Counsel AT TT: ;
mas Thompson, Assistant Se'c r taj y
�LP? .DLL l�n 4:�J 11 y U IIAA•^ r II ,iiF '. lr , ''a de, u �iW
State of California )
)ss.
County of
Riverside )
On_V IU )JI8 before me, _ Carrie RoWncy,_Notary Public
Date Name and Title of Officer
personally appeared -------------------------------Thomas J. Wilson-------------------------------------,
Name(s) of Signer(s)
who proved to me on the basis of satisfactory evidence to be the person(s)whose nalne(s)is/are subscribed
to the within instrument and acknowledged to me that he/shc?fl executed the same in his/lzcrftherr
authorized capacity(ico,and that by hds/hcrkhcir signatures(o on the instrument the person(s),or the entity
upon behalf of which the persons)acted, executed the instrument-
1 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
C=F, 26,2
COmm583
W- NoIcI(V mlaRlv Comm ,2010
sign ublic
1
IIIIIIIIIIIIIIIV11IIIIIIIIIIIIINIIIIIIIIIIIIIMIIII aB 00s aj¢R 0aR
DO NOT DESTROY THIS NOTE: When paid,this Note,with the Deed of Trust securing same,
must be surrendered to Trustee for cancellation before re-conveyance will be made.
PROMISSORY NOTE SECURED BY DEED OF TRUST
1 ilk-IWRI y 41&W 3
Palm Springs,California
FOR VALUE RECEIVED, the undersigned, THOMAS WMTE AND YOLANDA
M GANT, ("Maker") hereby promises to pay to the COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS,a public agency,corporate and politic("Holder'),
at a place designated by Holder, the principal sum of Eighteen Thousand Eighty Dollars
($18,080.00), together with interest thereon at five percent (50/6) per annum commencing
("Interest Accrual Conuueneement Date").
1. Repayment by Maker. This is a deferred loan. Unless the conditions of Section 8 of this
Promissory Note Secured by Deed of Trust ("Note") are met ("Due on Sale; Due on
Encumbrance"),the Maker will not make payments on this Note. lustcad,interest in the amount of
five percent(5%)per annum shall accrue on the 15°i day of each calendar month after the Interest
Accrual Commencement Date until principal and interest have been fully amortized. On the
anniversary dale of the Interest Accrual Commencement Date, an amount equal to ten percent
(10%) of the original principal and the interest accrued over the previous twelve-month period,
shall be forgiven by Lhe Agency.
2. Repayment, This Note may be prepaid in whole or in part at any time without penalty.
3. Note Secured by Deed of Trust. This Note is secured by a Deed of Trust and
Assignment of Rents of even date herewith, encumbering certain real property located in the
I County of Riverside, State of California, more particularly described therein, and any other
instruments, now or hereafter executed by Maker in favor of Holder, which in any manner
constitute additional security for this Note("Deed of Trust").
4. Late Charge. Maker agrees that if Maker fails to make any payment provided for herein
more than Len(10)days after the due date thereof,it would be impracticable or extremely difficult
to fix the actual damages resulting therefrom to IIolder,and,therefore,Maker hereby agrees to pay
to Holder a late charge equal to five percent(5%)of any payment which,is not made within ten(10)
,days after the due date thereof, not as a penalty, but for the purpose of defraying the expenses
incident to handling such delinquent payment. Such late charge represents the reasonable estimate
of a fair average compensation for the loss that may be sustained by Holder duc to the failure of
Maker to make timely payments. Such late charge shall be paid without prejudice to The right of
Holder to collect any other amount provided to be paid or to declare a default under this Note or the
Deed of Trust securing same. Such late charge shall be payable not later than thirty(30)days after
the due daze or the delinquent payment and shall be secured by the Deed of Trust.
5. Acceleration of Obligation. Upon the failure to make payment of any installment due
under this Note as and when the same become due and payable(whether by extension,acceleration
or otherwise),or in the event of default under the Deed of Trust,or any breach of any other promise
or obligation in this Note or in any other instrument now or hereafter securing the indebtedness
(evidenced hereby,then,and in any such events,Holder may,at its option,declare this Note and the
entire indebtedness bereby evidenced, including, without limitation, all accrued interest, to be
,immediately due and payable and collectible then or thereafter as Holder may elect,regardless of
the date of maturity,and notice of the exercise of said option is hereby expressly waived by Maker.
1
li
l
f
I�
ro any indebtedness evidenced hereby.
8. Due on Sale; Due on Encumbrance. In the event Maker shall, directly or indirectly,
voluntarily or involuntarily,sell,enter into a contract of sale,assign,transfer or dispose of all or any
portion of any interest in the property which is the subject of the Deed of Trust without obtaining
Holder's prior written approval,then,or at any time thereafter,Holder,at its option,may declare the
entire indebtedness evidenced hereby immediately due and payable.
9. Severability. The unenforceability of invalidity of any provision or provisions of this
Note as to any persons or circumstances shall not render that provision or those provisions
unenforceable or invalid as to any other provisions or circumstances,and all provisions hereof,in
all other respects,shall remain valid and enforceable.
10. Modifications. Neither this Note nor any term hereof may be waived, amended,
discharged,modified,changed or terminated orally;not shall any waiver of any provision hereof be
effective except by an instrument in writing signed by Maker and Holder. No delay or omission on
the part of the Holder in exercising any right hereunder shall operate as a waiver of such right or
any otter right under this Note.
11. No Waiver by Holder. No waiver of any breach,defaults or failure of condition under
the terms of this Note of the Deed of Trust or the obligation secured thereby shall be implied from
any failure or delay of the Holder of this Note to take action with respect to such breach,default or
failure.
12, Ti�,ry Notwithstanding any provision in this Note,Deed of Trust or other document
securing same,the total liability for payment in the nature of interest shall not exceed the limit now
imposed by applicable laws of the State of California.
13. Governing Law. This Note has been executed and delivered by Maker in the State of
'California securing same,the total liability for payment in the nature of interest shall not exceed the
limit now imposed by applicable laws of the State of California.
IN WITNESS WHEREOF,Maker has executed this Note as of the date and year first above
wrhen.
I Thomas White 'I
1 r t Jblanda M Gant
Chj ACt DOC i 2003-132398 ULJ 92/28/2.1_ 0-11 Fee:NC
Page 1 of a
Recorded In Offlelal Records
County of Riverside
Order No. As9eayor Caryoun L. Orso
EscLoan
No. 111IC111111111111111111111111111111der
Loan No.FREE RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
Community Redevelopment Agency of the
City of Palm Springs, California
3200 E.Tahquitz Canyon Way M 5_ PAGE SIZE oA PCGR NGCCR SMF MEC
Palm Springs, CA 92263 I^
UAttn: Executive Director d lV
A R L Y COPY LONC REI'GND NCHG EXAM
SPACE ABOVE THIS LINE FOR RECORDER'S USE
DEED OF TRUST T
(SHORT FORM) 11
This DEED OF TRUST, made ,—" i> i--':1 / ! ! /'_�'l:; -2=, between THOMAS WHITE AND
YOLANDA M GANT, herein called %TRUSTOR, FIRST AMERICAN TITLE INSURANCE
COMPANY, a California corporation, herein called TRUSTEE, and the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, CALIFORNIA, a public body,
corporate and politic, herein called BENEFICIARY.
WITNESSETH: That Trustor grants to Trustee in trust, with power of sale, that property in the
City of Palm Springs, County of Riverside, State of California, described as:
Lot 4 of Tract 29695, recorded in Book 315, Pages 6 to 8 inclusive, of Maps, records of
Riverside County, California.
See RIDER TO DEED OF TRUST attached hereto and incorporated herein by reference.
This Deed of Trust is Third and subject to a Deed of Trust securing a note in the amount of
$112,000.00, in favor of Countrywide Home Loans, Inc.; and subject to a Deed of Trust
securing a note in the amount of$5,420.00 in favor of State of California, Department of
Housing and Community Development-Home Investment Partnership Program.
together with the rents, issues and profits thereof, subject, however, to the right, power and authority
hereinafter given to and conferred upon Beneficiary to collect and appiy such rents, issues and profits
for the purpose of security (1) payment of the sum of $18,080.00, with interest thereon, according to
the terms of a Promissory Note of even date herewith by Trustor to order of Beneficiary, and extensions
or renewals thereof; (2) the performance of each agreement of Trustor incorporated by reference or
contained herein; and (3) payment of additional sums and interest thereon which may hereafter be
loaned to Trustor, or his successors or assigns, when evidenced by a promissory note or notes reciting
that they are secured by this Deed of Trust-
To protect the security of this Deed of Trust, and with respect to the property above described, Trustor
expressly makes each and all of the agreements, and adopts and agrees to perform and be bound b
each and all of the terms and provisions set forth in subdivision A, and it is mutually agreed that eacK
and all of the terms and provisions set forth in subdivision B of the fictitious deed of trust recorded in
Orange County August 17, 1964, and in all other counties August 18, 1964, in the book and at the page
of Official Records in the office of the county recorder of the county where said property is located,
noted below opposite the name of such county, namely:
COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE COUNTY BOOK PAGE
Alameda 1288 556 Kings 858 713 Placer 1028 379 Sierra 38 187
Alpine 3 130-31 Lake 437 110 Plumas 166 1307 Siskiyou 506 762
Amador 133 438 Lassen 192 367 Riverside 3778 347 Solano 1287 621
Butte 1330 513 Los Angeles T-3878 874 Sacramento 5039 124 Sonoma 2067 427
Calaveras 185 338 Madera 911 136 San Benito 300 406 Stanislaus 1970 56
Colusa 323 391 Marin 1849 122 San Bernardino 6213 768 Sutter 655 585
Contra Costa 4684 1 Mariposa 90 453 San Francisco A-804 596 Tehama 457 183
Del Norte 101 549 Mendocino 667 99 San Joaquin 2855 283 Trinity 108 595
El Dorado 704 635 Merced 1660 753 San Luis Obispo 1311 137 Tulare 2530 108
Fresno 5052 623 Modoc 191 93 San Mateo 4778 175 Tuolumne 177 160
Glenn 469 76 Mono 69 302 Santa Barbara 2065 881 Ventura 2607 237
Humboldt 801 83 Monterey 357 239 Santa Clara 6626 664 Yolo 769 16
Imperial 1189 701 Napa 704 742 Santa Cruz 1630 607 Yuba 398 693
Inyo 165 $72 Nevada 363 94 Shasta 800 633
Kern 3756 690 Orange 7182 18 San Diego SERIES 5 Book 1964,Page 149774
shall inure to and bind the parties hereto, with respect to the property above described. Said
agreements, terms and provisions contained in said subdivisions A and B (identical in all counties, and
printed on pages 3 and 4 hereof) are by the within reference thereto, incorporated herein and made a
part of this Deed of Trust for all purposes as fully as if set forth at length herein, and Beneficiary may
charge for a statement regarding the obligation secured hereby, provided the charge therefor does not
exceed the maximum allowed by law.
The undersigned Trustor, requests that a copy of any notice of default and any notice of sale hereunder
be mailed to him at his address hereinbefore set forth.
STATE OF CALIFORNIA }
}COUNTY ss Signature of Trustor
��;U�� V OF
4 On
before me, 1/i Thomas White
ggrsonally appeared 1 yVh 14 r `=_
pefsenaf"nown-to me (or proved to me on the
basis of satisfactory evidence) to be the person(s) Yolanda M Gant
whose name(s) israresubscribed to the within
instrument acknowledged to me that__ r 4
he/she/t�i xecuted the same in his/her/ teir t
authorized capacity(ies), and that by his/he 1` etr '; OFFICIA4 SEAL
signature(s) on the instrument the person(s) or tie YVETTe GARZA MUELA
entityupon behalf of which the person(s) acted, COMM#1242599
p p O d .. Nowry Public0/242599 0
execute th "inp1rume io e s RIVERSIDE COUNTY
My Commission Expires
NOVEMBER 20, 2003
WITNESS m
Signature� (This area for official notarial seal)
II IIIII II 1III II £ e
r ` �2 o � CAA
DO NOT RECORD
The following is a copy of Subdivisions A and B of the fictitious Deed of Trust recorded in each county in
California as stated in the foregoing Deed of Trust and incorporated by reference in said Deed of Trust as being a
part thereof as if set forth at length therein.
A. To protect the security of this Deed of Trust, Trustor agrees:
1) To keep said property in good condition and repair, not to remove or demolish any building thereon; to
complete or restore promptly and in a good and workmanlike manner any building which may be constructed,
damaged or destroyed thereon and to pay when due all claims for labor performed and materials furnished
therefor, to comply with all laws affecting said property or requiring any alterations or improvements to be made
thereon; not to commit or permit waste thereof; not to commit, suffer or permit any act upon said property in
violation of law; to cultivate, irrigate, fertilize, fumigate, prune and do all other acts which from the character or
use of said property may be reasonably necessary, the specific enumerations herein not excluding the general.
2) To provide, maintain and deliver to Beneficiary fire insurance satisfactory to and with loss payable to
Beneficiary. The amount collected under any fire or other insurance policy may be applied by Beneficiary upon
any indebtedness secured hereby and in such order as Beneficiary may determine, or at the option of Beneficiary
the entire amount so collected or any part thereof may be released to Trustor. Such application or release shall
not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to such notice.
3) To appear in and defend any action or proceeding purporting to affect the security hereof or the rights
or powers of Beneficiary or Trustee; and to pay all costs and expenses, including cost of evidence of title and
attorney's fees in a reasonable sum, in any such action or proceeding in which Beneficiary or Trustee may
appear, and in any suit brought by Beneficiary to foreclose this Deed.
4) To pay: at least ten days before delinquency all taxes and assessments affecting said property,
including assessments on appurtenant water stock; when due, all encumbrances, charges and liens, with
interest, on said property or any part thereof, which appear to be prior or superior hereto; all costs, fees and
expenses of this Trust.
Should Trustor fail to make any payment or to do any act as herein provided, then Beneficiary of Trustee,
but without obligation so to do and without notice to or demand upon Trustor and without releasing Trustor from
any obligation hereof, may: make or do the same is such manner and to such extent as either may deem
necessary to protect the security hereof, Beneficiary or Trustee being authorized to enter upon said property for
such purposes; appear in and defend any action or proceeding purporting to affect the security hereof or the
rights or powers of Beneficiary or Trustee; pay, purchase, contest or compromise any encumbrance, charge or
lien which in the judgment of either appears to be prior or superior hereto; and, in exercising any such powers,
pay necessary expenses, employ counsel and pay his reasonable fees.
5) To pay immediately and without demand all sums so expended by Beneficiary or Trustee, with interest
from date of expenditure at the amount allowed by law in effect at the date hereof, and to pay for any statement
provided for by law in effect at the date hereof regarding the obligation secured hereby any amount demanded by
the Beneficiary not to exceed the maximum allowed by law at the time when said statement is demanded.
B. It is mutually agreed:
1) That any award in connection with any condemnation for public use of or injury to said property or any
part thereof is hereby assigned and shall be paid to Beneficiary who may apply or release such moneys received
by him in the same manner and with the same effect as above provided for disposition of proceeds of fire or other
insurance.
2) That by accepting payment of any sum secured hereby after its due date, Beneficiary does not waive
his right either to require prompt payment when due of all other sums so secured or to declare default for failure
so to pay.
3) That at any time or from time to time, without liability therefor and without notice, upon written request
of Beneficiary and presentation of this Deed and said note for endorsement, and without affecting the personal
liability of any person for payment of the indebtedness secured hereby, Trustee may: reconvey any part of said
property; consent to the making of any map or plat thereof; join in granting any easement thereon, or join in any
extension agreement or any agreement subordinating the lien or charge hereof.
4) That upon written request of Beneficiary stating that all sums secured hereby have been paid, and
upon surrender of this Deed and said note to Trustee for cancellation and retention or other disposition as
I
�I II� III■ I I I �� II II I� /� vi L L 9�f' E• OC49
Trustee in its sole discretion may choose and upon payment of its fees, Trustee shall reconvey, without warranty,
the property then held hereunder. The recitals in such reconveyance of any matters or facts shall be conclusive
proof of the truthfulness thereof. The Grantee in such reconveyance may be described as "the person or
persons legally entitled thereto."
5) That as additional security, Trustor hereby gives to and confers upon Beneficiary the right, power and
authority, during the continuance of these Trusts, to collect the rents, issues and profits of said property,
reserving unto Trustor the right, prior to any default by Trustor in payment of any indebtedness secured hereby or
in the performance of any agreement hereunder, to collect and retain such rents, issues and profits as they
become due and payable. Upon any such default, Beneficiary may at any time without notice, either in person,
by agent, or be a receiver to be appointed by a court, and without regard to the adequacy of any security for the
indebtedness hereby secured, enter upon and take possession of said property or any part thereof, in his own
name sue for or otherwise collect such rents, issues, and profits, including those past due and unpaid, and apply
the same, less costs and expenses of operation and collection, including reasonable attorneys' fees, upon any
indebtedness secured hereby, and in such order as Beneficiary may determine_ The entering upon and taking
possession of said property, the collecting of such rents, issues and profits and the application thereof as
aforesaid, shall not cure or waive any default or notice of default hereunder or invalidate any act done pursuant to
such notice.
6) That upon default by Trustor in payment of any indebtedness secured hereby or in the performance of
any agreement hereunder, Beneficiary may declare all sums secured hereby immediately due and payable by
delivery to Trustee of written declaration of default and demand for sale and of written notice of default and of
election to cause to be sold said property, which notice Trustee shall cause to be filed for record. Beneficiary
also shall deposit with Trustee this Deed, said note and all documents evidencing expenditures secured hereby.
After the lapse of such time as may then be required by law following the recordation of said notice of
default, and notice of sale having been given as then required by law, Trustee, without demand on Trustor, shall
sell said property at the time and place fixed by it in said notice of sale, either as a whole or in separate parcels,
and in such order as it may determine, at public auction to the highest bidder for cash in lawful money of the
United States, payable at time of sale. Trustee may postpone sale of all or any portion of said property by public
announcement at such time and place of sale, and from time to time thereafter may postpone such sale by public
announcement at the time fixed by the preceding postponement. Trustee shall deliver to such purchaser its deed
conveying the property so sold, but without any covenant or warranty, express or implied. The recitals in such
deed of any matters or facts shall be conclusive proof of the truthfulness thereof. Any person, including Trustor,
Trustee, or Beneficiary as hereinafter defined, may purchase at such sale.
After deducting all costs, fees and expenses of Trustee and of this Trust, including cost of evidence of title
in connection with sale, Trustee shall apply the proceeds of sale to payment of: all sums expended under the
terms hereof, not then repaid, with accrued interest at the amount allowed by law in effect at the date hereof; all
other sums then secured hereby; and the remainder, if any, to the person or persons legally entitled thereto.
7) Beneficiary, or any successor in ownership of any indebtedness secured hereby, may from time to
time, by instrument in writing, substitute a successor or successors to any Trustee named herein or acting
hereunder, which instrument, executed by the Beneficiary and duly acknowledged and recorded in the office of
the recorder of the county or counties where said property is situated shall be conclusive proof of proper
substitution of such successor Trustee or Trustees, who shall, without conveyance from the Trustee predecessor,
succeed to all its title, estate, rights, powers and duties. Said instrument must contain the name of the original
Trustor, Trustee and Beneficiary hereunder, the book and page where this Deed is recorded and the name and
address of the new Trustee.
8) That this Deed applies to, inures to the benefit of, and binds all parties hereto, their heirs, legatees,
devisees, administrators, executors, successors and assigns. The term Beneficiary shall mean the owner and
holder, including pledgees, of the note secured hereby, whether or not named as Beneficiary herein. In this
Deed, whenever the context so requires, the masculine gender includes the feminine and/or neuter, and the
singular number includes the plural.
9) That Trustee accepts this Trust when this Deed, duly executed and acknowledged, is made a public
record as provided by law. Trustee is not obligated to notify any party hereto of pending sale under any other
Deed of Trust or of any action or proceeding in which Trustor, Beneficiary or Trustee shall be a party unless
brought by Trustee.
Fl0 1" 5R
��II��I I I�I I IIIIII II� II II I I�I I I II II •. FC, n 2 F 0@P
DO NOT RECORD REQUEST FOR FULL RECONVEYANCE
TO FIRST AMERICAN TITLE INSURANCE COMPANY, TRUSTEE:
The undersigned is the legal owner and holder of the note or notes and of all indebtedness secured by
the foregoing Deed of Trust. Said note or notes, together with all other indebtedness secured by said Deed of
Trust, have been fully paid and satisfied; and you are hereby requested and directed, on payment to you of any
sums owing to you under the terms of said Deed of Trust, to cancel said note or notes above mentioned, an all
other evidences of indebtedness secured by said Deed of Trust delivered to you herewith, together with the said
Deed of Trust, and to reconvey, without warranty, to the parties designated by the terms of said Deed of Trust, all
the estate now held by you under the same.
Dated
Please mail Deed of Trust,
Note and Reconveyance to
Do not lose or destroy this Deed of Trust OR THE NOTE which it secures. Both must be delivered to the
Trustee for cancellation before reconveyance will be made.
DEED OF TRUST
WITH POWER OF SALE
First American
Title Insurance
Company
TRUSTEE
II I II I I III III I I 1 II II II �I I I IIII Fia,6 zees c68 O&A
i9ecording Requested 8%
First American Title Company DOC # 2008-0335484
ING REQr� I 06/19/2008 08:009 Fee:12.00
RECORD
Resale Page t of 2 Doc T Tax Paid
The Escrow Connection Recorded in Official Records
County of Riverside
AND WHEN RECORDED MAIL TO: Larry W. Ward
Assessor, County Clerk & Recorder
Community Redevelopment Agency of The II II II III III III I III II I I I II
City of Palm Springs
Ann' David Ready
3200 E.Tahquitz Canyon Way S R U PAGE SIZE DA MISC LONG411FDCCFy
Palm Springs,Ca.92262OrderNo.3076153Escrow No-36461-KIC M A L 465 426 PCD NCOR SMFEParcel No-507-042-027-9 /p -T. Il CTY
GRANT DEED
THE UNDERSIGNED GRANTOR(5) DECLARF.(S)I U�I'DOCUM6N I ARY I RANSFER TAXIS S1S3.70
X computea or, full value of pope» cnsreycd, of
L7 computed on full value less liens or encumbrances remaining at the time of sale.
❑ unincorporated attic: City of Palm. Springs,and -
FOR A VALUABLE CONSIDERATION,receipt of which is hereby acknowledged,
Thomas White,an Unmarried Man and Yolanda M. Gant,an Unmarried Woman,as Joint Tenants � s
Hereby giants to Community Redevelopment Agency of The City of Palm Springs
the following described real property in the County of Riverside, State of California:
LOT 4 OF TRACT NO. 29695, IN THE CITY OF PALM SPRINGS, COUNTY OF RIVERSIDE, STATE
OF CALIFORNIA,AS SHOWN BY MAP ON FILE IN BOOT{315, PAGE(S) 6 THROUGH 8, INCLUSIVE
OF MAPS,IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY,CALIFORNIA.
Date May 14,2008
l
�, ! I �srt ! ✓� ,COkr�} Ed (ate!�
Thomas White Yolanda M. Gant
STATE OF CALIFORNIA }
- - - -- - "— )75.S - --
COUNTY OF RIVERSIDE }
On MAY 22, 2008 before me, SANDY L. SMITH Notary Public,
personally de LJh,"tC_ 5.5.
who proved to me on the basis of satisfactory evidence to be the personp whose names are subscribed to the within
instrument and acknowledged to me that phejF executed the same inauthorized capacities, and that byzhuwhis
signatures on the instrument the persons, or the entity upon behalf of which the persons 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.
,�_„ SANDY L.SMITH
WITNESS my hand and official seal, m : 4: COMM.$1690752 In
Notary Public-California
U9 �_
signature • , D} „:�' My Comm.Erp-June 27,20a9�
Mail Tax Statement to SAME AS ABOVE or Address Noted Below
RECORDING REQUESTED BY:
The Escrow Connection
AND WHEN RECORDED MAIL TO:
Community Redevelopment Agency of The
City of Palm Springs
Attn: David Ready
3200 2,Tahquitz Canyon Way
Palm Springs,Ca.92262
Order No.3076153
Escrow No.36461-KK
Parcel No.507-042-027-9
SPACE ABOVE TI-IIS LINE FOIL RECORDER'S USE
GRANT DEED
THE LJNMERSIGNP.D GRAN7'OR(S)DrCLARE(S)THAT DOCUMENTARY TRANSFER TAX IS$183.70
X computed on full value otproperty conveyed, or
❑ computed on full valueless liens or encumbrances remaining at the time of sale.
❑ u11111con0rated area! City of '•❑ Palm Springs, and
FOR A VALUABLE CONSIDERATION,receipt of which is hereby acknowledged,
Thomas White,an Unmarried Man and Yolanda M.Gant,an Unmarried Woman,as Joint Tenants
Hereby grants to Community Redevelopment Agency of The City of Palm Springs
the following described real property in the County of Riverside, State of California:
LOT 4 OF TRACT NO. 29695, IN THE CITY OF PALM SPRINGS, COUNTY OF RIVERSIDE, STATE
OF CALIFORNIA, AS SHOWN BY MAP ON FILE IN BOOK 315, PAGE(S) 6 THROUGH 8, INCLUSIVE
OF MAPS,IN THE OFFICE OF THE COUNTY RECORDER OF RIVERSIDE COUNTY,CALIFORNIA.
Date May 14,2008
Thomas White 1' anda M. Gant
STATE G'P CALiF Oi`N!A 'r -
pp } S-S.
COUNTY OF lti1V X51� }
On W a kA A. Zr)� before me, C141 I)A I ~ Notary Public,
personally appeared �(I„ Llnx 1 _
who proved to me on the basis of satisfactory evidence to be the persons whose names are subscribed to the within
instrument and acknowledged to me that they executed the same in their authorized capacities, and that by their
signatures on the instrument the persons, or the entity upon behalf of which the persons 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. Common 1796014
"Rimy PL*ft-CaRkiff"
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AGREEMENT FOR PURCHASE AND SALE
OF REAL PROPERTY AND ESCROW INSTRUCTIONS
Escrow No.
Date of Opening of Escrow:
THIS AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY AND
ESCROW INSTRUCTIONS ("Agreement') is made this Gm'64day of MF-
3 2008
("Effective Date'), by and between THOMAS WHITE AND YOLANDA M. GANT ("Seller") and
the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS.
RECITALS
A. The Seller is the owner of that certain real property at 945 E. Cottonwood Road,
Palm Springs, CA 92262 as described in Exhibit "A" to this Agreement ("Property"),
B. Seller acquired Property on February 26, 2003, by Document No. 2003-132358.
C. The Agency wishes to purchase the Property from Seller and Seller wishes to
sell the Property pursuant to the terms and conditions of this Agreement.
D. The Agency wishes to acquire the Property and exercise its right to identify a
prospective Qualified Purchaser who meets the low or moderate income standard and qualifies
for a conventional mortgage in cooperation with the Coachella Valley Housing Coalition.
E. Seller wishes to sell the Property to Buyer and Buyer wishes to buy the Property
from Seller pursuant to the terms and conditions of this Agreement.
NOW, THEREFORE, the parties hereto agree as follows:
TERMS AND CONDITIONS
1. PURCHASE AND SALE OF PROPERTY.
Buyer hereby agrees to purchase from Seller, and Seller agrees to sell to Buyer the
Property, upon the terms and conditions hereinafter set forth.
2. OPENING OF ESCROW: CLOSING DATE.
2.1 Opening of Escrow. Within one (1) business day after the execution of this
Agreement by Buyer and Seller, the parties shall open an escrow ("Escrow") with Escrow
Connection, 1111 E. Tahquitz-Canyon Way, Suite 10, Palm Springs, CA 92262 ("Escrow
Holder") by causing an executed copy of this Agreement to be deposited with Escrow Holder.
Escrow shall be deemed open on the date that a fully executed copy of this Agreement is
Thomas White/Yolanda M. Gant(Seller) � �� ` ` ' ' "' " " Page 1 of 18
Connnunity Redevelopment Agency of the City of Palm Springs(Buyer)
delivered to Escrow Holder ("Opening of Escrow"). Escrow Holder shall fax written notice of the
Opening of Escrow date to Buyer and Seller.
2.2 Closing Date. Escrow shall close on or before 2008
("Closing Date"). The terms the "Close of Escrow" and/or the "Closing" are used herein to mean
the time the Grant Deed (as hereinafter defined) is recorded in the Office of the County
Recorder of Riverside County, California.
2.3 Time is of the Essence. Buyer and Seller agree that time is of the essence and
each party specifically agrees to strictly comply and perform the obligations herein in the time
and manner specified and waives any and all rights to claim such compliance by mere
substantial compliance with the terms of this Agreement.
3. CONSIDERATION.
3.1 Purchase Price. The purchase price for the Property is ONE HUNDRED SIXTY-
SIX THOUSAND SIX HUNDRED TWENTY DOLLARS ($166,620.00) ("Purchase Price") based
on the Maximum Resale Price which is the maximum price that could be paid for the Property
by an income-qualified buyer in accordance with the terms of the Regulatory Agreement
between Seller and Buyer dated December 17, 2002, by Document No. 2003-132360. This
price includes all fees including closing costs.
3.2 Payment of Purchase Price. On or before the day preceding Close of Escrow,
Buyer shall deposit the Purchase Price with Escrow Holder in "good funds." "Good funds" shall
mean a wire transfer of funds, cashier's or certified check drawn on or issued by the offices of a
financial institution located in the State of California, or cash.
4. ADDITIONAL FUNDS AND DOCUMENTS REQUIRED FROM BUYER AND SELLER.
4.1 Buyer. Buyer agrees that on or before 1:00 p.m. on the business day preceding
the Closing Date, Buyer will deposit with Escrow Holder all additional funds and/or documents
(executed and acknowledged, if appropriate) which are necessary to comply with the terms of
this Agreement, including, without limitation, the following:
(a) A Preliminary Change of Ownership Statement completed in the manner
required in Riverside County;
(b) Such funds and other items and instruments as may be necessary in
order for Escrow Holder to comply with this Agreement.
4.2 Seller. Seller agrees that on or before 1:00 p.m. on the business day preceding
the Closing Date, Seller will deposit with Escrow Holder such funds and other items and
instruments (executed and acknowledged, if appropriate) as may be necessary in order for the
Escrow Holder to comply with this Agreement, including, without limitation, the following:
(a) A grant deed conveying the Property to Buyer in the form attached hereto
as Exhibit "B" ("Grant Deed");
(b) Two duplicate originals of a Non-Foreign Affidavit in the form attached
hereto as Exhibit "C" ("Non-Foreign Affidavit");
Thomas White/Yolanda M. Gant(Seller) Page 2 of 18
Community Redevelopment Agency of the City of Pahn Springs(Buyer)
(c) Two duplicate originals of California Form 590-RE Real Estate
Withholding Exemption Certificates in the form required by the California
Franchise Tax Board ("California Residency Affidavit"); and
(d) Such funds and other items and instruments as may be necessary in
order for Escrow Holder to comply with this Agreement.
4.3 Recordation. Completion and Distribution of Documents. Escrow Holder will
cause the Grant Deed to be recorded when (but in no event after the Closing Date) it can issue
the Title Policy in the form described in Section 5.2 below, and holds for the account of Seller
the items described above to be delivered to Seller through Escrow, less costs, expenses and
disbursements chargeable to Seller pursuant to the terms hereof.
5. TITLE MATTERS.
5.1 Approval of Title.
(a) Promptly following execution of this Agreement (but in no event later than
ten (10) days following Opening of Escrow), Seller shall cause to be delivered to Buyer a
Preliminary Title Report issued through First American Title Company, 250 E. Palm Canyon
Drive, Palm Springs, CA 92264 ("Title Company"), describing the state of title of the Property,
together with legible copies of all exceptions specified therein ("Preliminary Title Report").
(b) In the event Buyer delivers Buyer's Title Notice within said period, Seller
shall have a period of ten (10) days after receipt of Buyer's Title Notice in which to notify Buyer
of Seller's election to either (i) agree to attempt to remove the Disapproved Exceptions prior to
the Close of Escrow; or (ii) decline to remove any such Disapproved Exceptions ("Seller's
Notice"). Seller shall only elect to decline to remove Disapproved Exceptions which Seller in
good faith believes Seller's reasonable efforts would not result in removal or as to which
removal would result in cost or expense to Seller other than nominal administrative expense
incurred in the process of removal. Seller's failure to deliver Seller's Notice within said ten (10)
day period shall be deemed Seller's election to decline to remove the Disapproved Exceptions.
If Seller notifies Buyer of its election to decline to remove the Disapproved Exceptions, if Seller
is deemed to have elected to decline to remove the Disapproved Exceptions or if Seller is
unable to remove the Disapproved Exceptions, Buyer may elect either to terminate this
Agreement and the Escrow or to accept title to the Property subject to the Disapproved
Exception(s). Buyer shall exercise such election by delivery of written notice to Seller and
Escrow Holder within ten (10) days following the earlier of (i) the date of written advice from
Seller that such Disapproved Exception(s) cannot be removed; or(ii) the date Seller declined or
is deemed to have declined to remove such Disapproved Exception(s).
(c) Upon the issuance of any amendment or supplement to the Preliminary
Title Report which adds additional exceptions, the foregoing right of review and approval shall
also apply to said amendment or supplement, provided, however, that Buyer's initial period of
review and approval or disapproval of any such additional exceptions shall be limited to ten (10)
days following receipt of notice of such additional exceptions, together with copies of the
underlying documents referenced therein.
(d) Nothing to the contrary herein withstanding, Buyer shall be deemed to
have automatically objected to all deeds of trust, mortgages, judgment liens, federal and state
income tax liens, delinquent general and special real property taxes and assessments and
Thomas White/Yolanda M.Gant(Seller) Page 3 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
similar monetary encumbrances affecting the Property, and Seller shall discharge any such non-
permitted title matters of record prior to or concurrently with the Close of Escrow.
5.2 Title Policv. When Escrow Holder holds for Buyer the Grant Deed in favor of
Buyer executed and acknowledged by Seller covering the Property, Escrow Holder shall cause
to be issued and delivered to Buyer and Seller as of the Close of Escrow a CLTA standard
coverage owner's policy of title insurance ("Title Policy"), or, upon Buyer's request therefor, an
ALTA extended coverage owner's policy of title insurance, issued by Title Company, with liability
in the amount of the Purchase Price, covering the Property and showing title vested in Buyer
free of encumbrances, except:
(a) All non-delinquent general and special real property taxes and
assessments for the current fiscal year;
(b) Those easements, encumbrances, covenants, conditions, restrictions,
reservations, rights-of-way and other matters of record shown on the
Preliminary Title Report which have been approved by Buyer pursuant to
Section 5.1 above;
(c) The standard printed exceptions and exclusions contained in the CLTA or
ALTA form policy;
(d) Any exceptions created or consented to by Buyer, including, without
limitation, any exceptions arising by reason of Buyer's possession of or
entry on the Property.
6. DUE DILIGENCE.
6.1 Due Diligence Date. The "Due Diligence Date" shall mean the date which is
fifteen (15) days following the date of the Opening of Escrow.
6.2 Approval of Due Diligence Matters. Buyer shall notify Seller in writing ("Buyer's
Due Diligence Notice") on or before the Due Diligence Date of Buyer's approval or disapproval
of each item delivered to or available for review by Buyer pursuant to this Section 6 and of
Buyer's approval or disapproval of the condition of the Property and Buyer's investigations with
respect thereto (excluding title matters which are to be approved or disapproved pursuant to
Section 5.1 above) (collectively, the "Due Diligence Items"), which approval may be withheld in
Buyer's sole and absolute discretion. In the event Buyer fails to give written notice of its
approval, then it shall be deemed that Buyer has disapproved the condition of the Property.
In the event of Buyer's disapproval of a condition of the Property, within ten (10) days
after Seller's receipt of Buyer's Due Diligence Notice, Seller shall give Buyer written notice
("Seller's Due Diligence Notice") of those conditions that Seller will attempt to cure. Seller shall
thereafter promptly use all reasonable efforts to cure such conditions, prior to the Close of
Escrow, at its sole cost and expense.
In the event that Seller delivers a Seller's Due Diligence Notice listing any of the
disapproved Property conditions, Buyer shall have the right to (a) terminate this Agreement or
(b) acquire the Property subject to the disapproved Property conditions included within Seller's
Due Diligence Notice. Such right shall be exercised by Buyer by giving either written notice of
such termination ("Termination Notice") or written notice of such election to accept the
Thomas White/Yolanda M. Gant(Seller) Page 4 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
disapproved Property conditions ("Property Acceptance Notice") to Seller within twenty (20)
days after Buyer's receipt of Seller's Due Diligence Notice. In the event that Buyer should fail to
give either the Termination Notice or the Property Acceptance Notice within the time period set
forth in the preceding sentence, Buyer shall be deemed to have given a Termination Notice
6.3 Approval of Additional Due Diligence Matters. In the event Seller becomes
aware of or obtains possession of any new Due Diligence Items after the Due Diligence Date,
Seller will provide Buyer with written notice of such Due Diligence Item to Buyer. Buyer shall
have the right to review and approve such Due Diligence Item in the same manner as set forth
in Section 6.5 above; provided, however, that Buyer's period to review and approve or
disapprove such additional Due Diligence Item shall be limited to fifteen (15) days following
receipt of notice of such new Due Diligence Item, together with a copy of any written document
relating thereto.
7. CONDITIONS PRECEDENT TO CLOSE OF ESCROW.
7.1 Conditions to Buver's Obligations. The obligations of Buyer under this
Agreement shall be subject to the satisfaction or written waiver, in whole or in part, by Buyer of
each of the following conditions precedent:
(a) Title Company will issue the Title Policy as required by Section 5.2 of this
Agreement.
(b) Buyer has approved or deemed to have approved the condition to title of
the Property on or before the date provided in Section 5.1.
(c) Buyer has approved or deemed to have approved all Due Diligence Items
on or before the Due Diligence Date.
(d) Seller has removed from the Property all equipment, personal property,
debris and waste.
(e) Escrow Holder holds and will deliver to Buyer the instruments and funds,
if any, accruing to Buyer pursuant to this Agreement.
(f) All representations and warranties specified in Section 9.1 are true and
correct.
(g) Buyer's approval of any other conditions specified in this Agreement.
(h) Seller shall not be in default of any term or condition of this Agreement.
Buyer's approval shall be based upon Buyer's sole and absolute discretion; provided, however,
if Buyer has not delivered written notice of approval of the above conditions to Seller and
Escrow Holder by the times provided above, or if no time is provided, on or before the Close of
Escrow, each such condition shall automatically and conclusively be deemed to have been
disapproved by Buyer. Buyer may waive such automatic disapproval in writing.
7.2 Conditions to Seller's Obligations. The obligations of Seller under this
Agreement shall be subject to the satisfaction or written waiver, in whole or in part, by Seller of
each of the following conditions precedent:
Thomas White/Yolanda M. Gant(Seller) Page 5 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
(a) Escrow Holder holds and will deliver to Seller the instruments and funds
accruing to Seller pursuant to this Agreement.
(b) Buyer shall not be in default of any term or condition of this Agreement.
If requested by Escrow Holder or Buyer, Seller shall deliver to Escrow Holder and
Buyer written notice of satisfaction of the conditions set forth in this Section 7.2.
7.3 Covenant of Seller and Buyer. Buyer and Seller agree to cooperate with one
another, at no cost or expense to the cooperating party, in satisfying the conditions precedent to
Close of Escrow. Buyer shall be responsible for proceeding with diligence and in good faith to
satisfy the conditions to Buyer's performance set forth in Section 7.1 and Seller shall be
responsible for proceeding with diligence and in good faith to satisfy the conditions to Seller's
performance set forth in Section 7.2.
7.4 Termination for Failure of Condition. In the event Buyer fails to approve or
disapprove any condition precedent specified in Section 7.1 or elsewhere in this Agreement on
or before the date for approval set forth therein, Seller shall notify Buyer of such failure and
Buyer shall have a period of twenty (20) days from receipt of such notice to elect to approve
such matter or to disapprove such matter and terminate this Agreement. The failure of Buyer to
approve such matter within said twenty (20) days shall be deemed to constitute disapproval
thereof and Buyer's election to terminate. In the event Seller fails to approve or disapprove any
condition precedent specified in Section 7.1 or elsewhere in this Agreement on or before the
date for approval set forth therein, Buyer shall notify Seller of such failure and Seller shall have
a period of twenty (20) days from receipt of such notice to elect to approve such matter or to
disapprove such matter and terminate this Agreement. The failure of Seller to approve such
matter within said twenty (20) days shall be deemed to constitute disapproval thereof and
Seller's election to terminate. In the event Buyer or Seller terminates this Agreement based on
the disapproval of one or more of said conditions precedent as provided herein, Buyer shall be
entitled to all sums deposited into Escrow, paid to Seller as a portion of the Purchase Price.
8. REPRESENTATIONS AND WARRANTIES.
8.1 Representations and Warranties. Seller hereby makes the following
representations and warranties to Buyer, each of which (i) is material and relied upon by Buyer
in making its determination to enter into this Agreement; (ii) to Seller's actual knowledge, is true
in all respects as of the date'hereof and shall be true in all respects on the date of Close of
Escrow on the Property; and (iii) shall survive the Close of Escrow of the purchase and sale of
the Property as well as any future transfer of the Property to Buyer or any transferee, successor
or assignee of Buyer:
(a) There are no pending or threatened litigation, allegations, lawsuits or
claims, whether for personal injury, property damage, property taxes,
contractual disputes or otherwise, which do or may affect the Property or
the operation or value thereof, and there are no actions or proceedings
pending or, to the best of Seller's knowledge, threatened against Seller
before any court or administrative agency in any way connected with the
Property and neither the entering into of this Agreement nor the
consummation of the transactions contemplated hereby will constitute or
result in a violation or breach by Seller of any judgment, order, writ,
injunction or decree issued against or imposed upon it. There is no
Thomas White/Yolanda M. Gant(Seller) Page 6 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
action, suit, proceeding or investigation pending or threatened against _
Seller which would become a cloud on Buyer's title to or have a material
adverse impact upon the Property or any portion thereof or which
questions the validity or enforceability of the transaction contemplated by
this Agreement or any action taken pursuant hereto in any court or before
or by any federal, district, county, or municipal department, commission,
board, bureau, agency or other governmental instrumentality.
(b) There are no contracts, leases, claims or rights affecting the Property and
no agreements entered into by or under Seller shall survive the Close of
Escrow that would adversely affect Buyer's rights with respect to the
Property, except as heretofore disclosed in writing by Seller to Buyer
pursuant to Section 6.3.
(c) Seller has delivered or, within the period required in Section 6.3, will have
delivered true, correct and complete copies of all the documents and
other information specified in Section 6.3 in Seller's possession or control
(or has reasonable access thereto). To the best of Seller's knowledge,
the information contained in the said documents is true and accurate.
(d) No part of the Property has been used by Seller for the use, storage,
disposal, or release of toxic or hazardous substances or wastes and that,
to the best of Seller's actual knowledge, no part of the Property has ever
been so used.
(e) There are no executory contracts, options or agreements existing (other
than this Agreement) relating to the purchase of all or any portion of the
Property or any interest therein.
(f) All federal, state, municipal, county and local taxes, the nonpayment of
which might become a lien on or affect all or part of the Property, which
are due and payable prior to the Closing have been paid, or on the
Closing Date will have been paid in full.
(g) There are no contingent liabilities arising out of the ownership or
operation of, or affecting, the Property or any part thereof which would be
binding upon the Buyer or to which the Property would be subject after
the Closing.
(h) Seller has obtained, or will obtain before the Close of Escrow, all required
consents, releases and permissions in order to vest good and marketable
title in Buyer.
(i) The closing of the various transactions contemplated by this Agreement
will not constitute or result in any default or event that with the notice or
lapse of time, or both, would be a default, breach or violation of any lease,
mortgage, deed of trust or other agreement, instrument or arrangement
by which Seller or the Property are bound. The execution and delivery of
this Agreement and the consummation of the transactions contemplated
hereby will not violate any provision of, or require any consent,
authorization or approval under any law or administrative regulation or
Thomas White/Yolanda M. Gant(Seller) Page 7 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
any order, award, judgment, writ, injunction or decree applicable to, or
any governmental permit or license issued to Seller relating to the
Property.
(j) Other than those conditions or encumbrances expressly identified in the
Preliminary Title Report which have been approved by Buyer pursuant to
Section 5.1 above, no defects or conditions of any portion of the Property
or the soil exists which may impair the use of the Property.
(k) All representations and warranties made hereunder are in addition to any
representations and warranties implied by law and in no event shall this
Section 9.1 be construed to limit, diminish or reduce any obligation of
disclosure implied upon Seller by law.
8.2 Changed Circumstances. If Seller becomes aware of any fact or circumstance
which would change or render incorrect, in whole or in part, any representation or warranty
made by Seller under this Agreement, whether as of the date given or any time thereafter
through the Close of Escrow and whether or not such representation or warranty was based
upon Seller's knowledge and/or belief as of a certain date, Seller will give immediate written
notice of such changed fact or circumstance to Buyer, but such notice shall not release Seller of
its liabilities or obligations with respect thereto. Seller shall issue a certificate as of the Close of
Escrow stating that all the representations and warranties contained in Section 9.1 are true and
correct as of said date, or setting forth in detail which of such matters are not true and correct.
Buyer shall have ten (10) days from the receipt of any notice by Seller of the material change of
any representation or warranty made by Seller hereunder to terminate this Agreement by
providing written notice to Seller and Escrow Holder, and receive return of its Deposit and any
other sums deposited in the Escrow.
9. ESCROW PROVISIONS.
9.1 Escrow Instructions. This Agreement, when signed by Buyer and Seller, shall
also constitute escrow instructions to Escrow Holder. If required by Escrow Holder, Buyer and
Seller agree to execute Escrow Holder's standard escrow instructions, provided that the same
are consistent with and do not conflict with the provisions of this Agreement. In the event of any
such conflict, the provisions of this Agreement shall prevail.
9.2 General Escrow Provisions. Escrow Holder shall deliver the Title Policy to the
Buyer and instruct the Riverside County Recorder to mail the Grant Deed to Buyer at the
address set forth in Section 14.13 after recordation. All funds received in this Escrow shall be
deposited in one or more general escrow accounts of the Escrow Holder with any bank doing
business in Riverside County, California, and may be disbursed to any other general escrow
account or accounts. All disbursements shall be made by Escrow Holder's check.
9.3 Proration of Real Property Taxes.
(a) All non-delinquent general and special real property taxes and
assessments shall be paid by Seller, prorated to the Close of Escrow on the basis of a thirty
(30) day month and a three hundred sixty day (360) year. Seller acknowledges that Buyer is a
governmental agency, not subject to payment of taxes. Accordingly, Seller shall be solely
responsible for seeking a refund of any overpayment of taxes from the appropriate taxing
agencies. In the event that property taxes are assessed on a parcel of real property which
Thomas White/Yolanda M. Gant(Seller) Page 8 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
includes land other than the Property, such proration shall include only taxes attributable to the
Property, calculated in terms of total gross square feet of land assessed pursuant to the tax
statement versus total gross square footage of the Property. Any supplemental tax bills
received after Close of Escrow shall be paid by Seller to the extent they relate to a period prior
to Close of Escrow. If a supplemental tax bill covers a period commencing before and
continuing after Close of Escrow, Seller will pay the tax and shall be solely responsible for
seeking any refund from the appropriate taxing agency. The provisions of this Section shall
survive Close of Escrow.
(b) The provisions of this Section shall survive Close of Escrow. If either
party fails to pay its pro rata share of taxes or other expenses by the times herein provided,
interest shall accrue on all unpaid amounts from when owing until paid at five percent (5%) over
the Federal Discount Rate quoted by the Federal Reserve Bank of San Francisco on the 25th
day of the month preceding the date interest commences to accrue.
9.4 Payment of Costs. Seller shall pay one-half (1/2) of the Escrow fee, one-half
(1/2) of the documentary transfer taxes, all title insurance premiums for that portion of the Title
Policy premium which would be incurred for a CLTA form policy, and the charge for drawing the
Grant Deed. Buyer shall pay one-half (112) of the Escrow fee, all charges for recording the
Grant Deed, and that portion of the Title Policy premium which is attributable to the additional
cost of obtaining any additional coverage requested by Buyer, including the difference between
CLTA and ALTA coverage. Seller and Buyer shall each be responsible for their respective
attorneys' fees and costs. All other costs of Escrow not otherwise specifically allocated by this
Agreement shall be apportioned between the parties in a manner consistent with the custom
and usage of Escrow Holder.
9.5 Termination and Cancellation of Escrow. If Escrow fails to close as provided
above, Escrow shall terminate automatically without further action by Escrow Holder or any
party, and Escrow Holder is instructed to return all funds and documents then in Escrow to the
respective depositor of the same with Escrow Holder; provided that any document which has
been signed by a party who is not to receive the return of such document, shall be marked "void
and of no force or effect" by Escrow Holder before it is delivered. Cancellation of Escrow, as
provided herein, shall be without prejudice to whatever legal rights Buyer or Seller may have
against each other arising from the Escrow or this Agreement.
10. BROKERAGE COMMISSIONS.
Neither Buyer nor Seller have engaged a broker on the property and no brokerage
commission shall be paid to any party.
11. POSSESSION.
Possession of the Property shall be delivered to Buyer as of Close of Escrow. In the
event any personal property remains on the Property following the Close of Escrow, it shall
automatically become the property of Buyer.
Thomas White/Yolanda M. Gant(Seller) Page 9 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
12. DEFAULTS; ENFORCEMENT.
12.1 Defaults and Right to Cure. Failure or delay by either party to timely perform any
covenant of this Agreement constitutes a default under this Agreement, but only if the party who
so fails or delays does not commence to cure, correct or remedy such failure or delay within
thirty (30) days after receipt of a written notice specifying such failure or delay, and does not
thereafter prosecute such cure, correction or remedy with diligence to completion. The injured
party shall give written notice of default to the party in default, specifying the default complained
of by the injured party. Except as required to protect against further damages, the injured party
may not institute proceedings against the party in default until thirty (30) days after giving such
notice. Failure or delay in giving such notice shall not constitute a waiver of any default, nor
shall it change the time of default.
12.2 Specific Performance. In addition to any other remedies permitted by this
Agreement, if either party defaults hereunder by failing to perform any of its obligations herein,
each party agrees that the other shall be entitled to the judicial remedy of specific performance,
and each party agrees (subject to its reserved right to contest whether in fact a default does
exist) not to challenge or contest the appropriateness of such remedy.
13. MISCELLANEOUS.
13.1 Successors and Assigns. This Agreement shall be binding upon the parties
hereto and their respective heirs, representatives, transferees, successors and assigns. The
transfer of all or any part of the interest of any party hereunder in the Property shall not release
Seller of their obligations under this Agreement.
13.2 Time Period Computations. All periods of time referred to in this Agreement shall
include all Saturdays, Sundays and California state or national holidays unless the reference is
to business days, in which event such weekends and holidays shall be excluded in the
computation of time and provide that if the last date to perform any act or give any notice with
respect to this Agreement shall fall on a Saturday, Sunday or California state or national holiday,
such act or notice shall be deemed to have been timely performed or given on the next
succeeding day which is not a Saturday, Sunday or California state or national holiday.
13.3 Qualification; Authority. Each individual executing this Agreement on behalf of a
partnership or corporation represents and warrants that such entity is duly formed and
authorized to do business in the State of California and that he or she is duly authorized to
execute and deliver this Agreement on behalf of such partnership or corporation in accordance
with authority granted under the formation documents of such entity, and, if a corporation, by a
duly passed resolution of its Board of Directors, that all conditions to the exercise of such
authority have been satisfied, and that this Agreement is binding upon such entity in accordance
with their respective terms. Upon request of either party, Escrow Holder or Title Company,
Buyer and Seller agree to deliver such documents reasonably necessary to evidence the
foregoing.
13.4 Attorneys' Fees. In the event of any dispute between the parties hereto arising
out of the subject matter of this Agreement or the Escrow, or in connection with the Property,
the prevailing party in such action shall be entitled to have and to recover from the other party
its actual attorneys' fees and other expenses and costs in connection with such action or
proceeding (including expert witness fees) in addition to its recoverable court costs.
Thomas White/Yolanda M. Gant(Seller) Page 10 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
13.5 Interpretation; Governing Law. This Agreement shall be construed according to
its fair meaning and as if prepared by both parties hereto. This Agreement shall be construed in
accordance with the laws of the State of California in effect at the time of the execution of this
Agreement. Titles and captions are for convenience only and shall not constitute a portion of
this Agreement. As used in this Agreement, masculine, feminine or neuter gender and the
singular or plural number shall each be deemed to include the others wherever and whenever
the context so dictates.
13.6 No Waiver. No delay or omission by either party hereto in exercising any right or
power accruing upon the compliance or failure of performance by the other party hereto under
the provisions of this Agreement shall impair any such right or power or be construed to be a
waiver thereof. A waiver by either party hereto of a breach of any of the covenants, conditions
or agreements hereof to be performed by the other party shall not be construed as a waiver of
any succeeding breach of the same or other covenants, agreements, restrictions or conditions
hereof.
13.7 Modifications. Any alteration, change or modification of or to this Agreement, in
order to become effective, shall be made by written instrument or endorsement thereon and in
each such instance executed on behalf of each party hereto.
13.8 Severability. If any term, provision, condition or covenant of this Agreement or
the application thereof to any party or circumstances shall, to any extent, be held invalid or
unenforceable, the remainder of this instrument, or the application of such term, provision,
condition or covenant to persons or circumstances other than those as to whom or which it is
held invalid or unenforceable, shall not be affected thereby, and each term and provision of this
Agreement shall be valid and enforceable to the fullest extent permitted by law.
13.9 Merger of Prior Agreements and Understandings. This Agreement and other
documents incorporated herein by reference contain the entire understanding between the
parties relating to the transaction contemplated hereby and all prior or contemporaneous
agreements, understandings, representations and statements, oral or written, are merged
herein and shall be of no further force or effect.
13.10 Covenants to Survive Escrow. The covenants and agreements contained herein
shall survive the Close of Escrow and, subject to the limitations on assignment contained in
Section 14.1 above, shall be binding upon and inure to the benefit of the parties hereto and their
representatives, heirs, successors and assigns.
13.11 Consent of Parties. Whenever by the terms of this Agreement the consent or
approval of Buyer or Seller is to be given, such consent or approval shall be evidenced by the
signature of one person designated for such purpose. Initially such person for Seller shall be
Lincoln Saul and such person for Buyer shall be the Executive Director of Buyer. Such
designated persons may be changed by the party so designating at any time by the delivery of a
written notice to the other party.
13.12 Execution in Counterpart. This Agreement and any modifications, amendments
or supplements thereto may be executed in several counterparts, and all so executed shall
constitute one agreement binding on all parties hereto, notwithstanding that all parties are not
signatories to the original or the same counterpart.
Thomas White/Yolanda M. Gant(Seller) Page 11 of 18
Conmumity Redevelopment Agency of the City of Palm Springs(Buyer)
13.13 Notices. Any notice which either party may desire to give to the other party or to
the Escrow Holder must be in writing and shall be effective (i) when personally delivered by the
other party or messenger or courier thereof; (ii) three (3) business days after deposit in the
United States mail, registered or certified; (iii) twenty-four (24) hours after deposit before the
daily deadline time with a reputable overnight courier or service; or (iv) upon receipt of a
telecopy or fax transmission, provided a hard copy of such transmission shall be thereafter
delivered in one of the methods described in the foregoing (i) through (iii); in each case postage
fully prepaid and addressed to the respective parties as set forth below or to such other address
and to such other persons as the parties may hereafter designate by written notice to the other
parties hereto:
To Seller: Thomas White and Yolanda M. Gant
945 E. Cottonwood Road
Palm Springs, CA 92262-4642
To Buyer: Community Redevelopment Agency of the
City of Palm Springs
3200 E Tahquitz Canyon Way
Palm Springs, CA 92262-6959
Attn: Executive Director
Copy to: Community Redevelopment Agency of the
City of Palm Springs
3200 E Tahquitz Canyon Way
Palm Springs, CA 92262-6959
Attn: Agency Counsel
13.14 Exhibits. Exhibits 'A," "B" and "C" inclusive, attached hereto, are incorporated
herein by this reference.
13.15 Corporate Authority. The persons executing this Agreement on behalf of the
parties hereto warrant that (i) such party is duly organized and existing, (ii) they are duly
authorized to execute and deliver this Agreement on behalf of said party, (iii) by so executing
this Agreement, such party is formally bound to the provisions of this Agreement, and (iv) the
entering into this Agreement does not violate any provision of any other Agreement to which
said party is bound.
[SIGNATURES ON NEXT PAGE]
Thomas White/Yolanda M. Gant(Seller) Page 12 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
IN WITNESS WHEREOF, the parties hereto have executed this Agreement of Purchase
and Sale of Real Property and Escrow Instructions as of the date set forth above.
"SELLER"
Thomas White
,-Planda M. Gant
"BUYER"
COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS,
a public body, corporate and politic
David H. Ready, Exe rector
ATTEST:
B "+�. �a1-rm= �a ,ry;� _�?�c✓ _ l'�..a-V
M= J
mes Thompson, Assistant Secretary
APPRd`VS1 S T - FORM
Dougl s'Holland, Agency Counsel
[END OF SIGNATURES]
Thomas White/Yolanda M. Gant(Seller) Page 13 of 18
Cormimnity Redevelopment Agency of the City of Palm Springs(Buyer)
SCHEDULE OF EXHIBITS
EXHIBIT "A" LEGAL DESCRIPTION OF PROPERTY
EXHIBIT "B" GRANT DEED
EXHIBIT "C' NON-FOREIGN AFFIDAVIT
Thomas White/Yolanda M. Gant(Seller) Page 14 of 18
Conummity Redevelopment Agency of the City of Palm Springs(Buyer)
EXHIBIT "A"
LEGAL DESCRIPTION OF PROPERTY
The following real property in the City of Palm Springs, County of Riverside, State of California,
described as follows:
Lot 4 of Tract 29695, recorded in Book 315, Pages 6 to 8 inclusive, of Maps, records of
Riverside County, California.
Thomas White/Yolanda M. Gant(Seller) Page 15 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
EXHIBIT "B"
GRANT DEED
RECORDING REQUESTED BY AND
WHEN RECORDED MAIL TO:
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS
3200 E Tahquitz Canyon Way
Palm Springs, CA 92262-6959
Attn: Executive Director
Space above this line for Recorder's Use
(Exempt from recording fee per Section 6103 of Government Code)
Order No.
Escrow No.
GRANT DEED
FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,
THOMAS WHITE AND YOLANDA M. GANT hereby grants to the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, the real property at 945 E.
Cottonwood Road in the City of Palm Springs, County of Riverside, State of California,
described in Exhibit "A" attached hereto and incorporated herein by reference ('Property').
The Property conveyed hereby is subject to (i) non-delinquent general and special real
property taxes and assessments; and (ii) matters of record.
Dated: 2008
THOMAS WHITE
YOLANDA M. GANT
STATE OF CALIFORNIA )
ss.
COUNTY OF RIVERSIDE )
On before me, Notary Public, personally
appeared 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.
Notary Public
[SEAL]
Thomas White/Yolanda M. Gant(Seller) Page 16 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
EXHIBIT "A" TO GRANT DEED
LEGAL DESCRIPTION OF LAND
The following real property in the City of Palm Springs, County of Riverside, State of California,
described as follows:
Lot 4 of Tract 29695, recorded in Book 315, Pages 6 to 8 inclusive, of Maps, records of
Riverside County, California.
Thomas White/Yolanda M. Gant(Seller) Page 17 of 18
Community Redevelopment Agency of the City of Palm Springs(Buyer)
EXHIBIT "C"
NON-FOREIGN AFFIDAVIT
Section 1445 of the Internal Revenue Code provides that a transferee of a U.S. real
property interest must withhold tax if the transferor is a foreign person. To inform the transferee
that withholding of tax is not required upon disposition of a U.S. real property interest by
("Transferor"), the undersigned hereby certifies the
following on behalf of Transferor:
1. Transferor is not a foreign corporation, foreign partnership, foreign trust or foreign
estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations);
2. Transferor's U.S. employer identification or social security number is
and
3. Transferor's office address is
The undersigned 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 penalties of perjury, we declare that we have examined this certification and to
the best of our knowledge and belief, it is true, correct, and complete, and we further declare
that we have authority to sign this document on behalf of Transferors.
Dated: 12008
Insert name here
"Transferor"
Address of Property for Sale: 945 E. Cottonwood Road, Palm Springs, CA 92262
See legal description attached as Exhibit "A"
Thomas White/Yolanda M. Gant(Seller) Page 18 of 18
Community Redevelopment Agency of the City of Palm Springs (Buyer)