HomeMy WebLinkAbout00498C - VIP MOTOR CARS INC/PARTNERS LAND DEVELOPMENT LLC DDA APN 681070016 VIP M6,tor Cars Inc./Partners
_CHICAGO TITLE COMPANY Land Development LLC
DDA
a78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211 AGREEMENT #0498C
(760)345-0750 Fax (760)772-8463 Res. 1286, 7-5-05
November 9,2005
JOHN S. RAYMOND
THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS
3200 E.TAHQUITZ CANYON WAY
PALM SPRINGS, CALIFORNIA 92263
RE:vacant land APN 681-070-016, Palm Springs, CALIFORNIA V
Escrow No: 52050042
Dear Mr. Raymond,
In connection with the above referenced escrow,we enclose the following items:
PLEASE SIGN AND RETURN THE FOLLOWING, RECEIPT FOR SCHDULE B DOCUMENTS FOR APN
681-070-016
If we can provide any additional information or answer any questions you may have, please give us a call.
Thank you for choosing Chicago Title Company,
Since�rely,
Cf1 CAG IT/LE COMPANY
Linda S41ido
—"Escrow Officer
Linda M. Salcido
Escrow Manager
CHICAGO TITLE
78.000 Fred Waring Dr.,Suite 103
® Palm Desert,CA 92211
(760)345.0750 x 210
E-mail:Linda.Salcido®ctt.com Fax (760) 772.8463
RILTP-.09/22/9ebk
ESTOPPEL CERTIFICATE
The City of Palm Springs ("fity"), as successor agency to the Community
Redevelopment Agency Of The City Of Palm Springs ("A en ') under (i) that certain
Declaration of Covenants, Conditions, And Restrictions recorded in the official records of
the County of Riverside on May 4, 2006 as document number 2006-0324534
("Declaration') by and between Agency, VIP Motor Cars, Ltd., a California corporation
wholly owned by VIP Motor Cars Acquisitions, Inc., a California corporation (collectively
"Dealer") and Partners Land Development, LLC, an Arkansas limited liability, company
("Developer"; Developer and Dealer are collectively referred to as "Declarant"), (ii) that
certain Grant Deed recorded in the official records of the County of Riverside on May 4,
2006 as document number 2006-0324533 ("Grant Deed") granting the real property
described thereunder ("Property') to Developer, and (iii) that certain 2005 Disposition
and Development Agreement ("DDA") dated October 27, 2005 by and between Agency and
Dealer, hereby certifies to First American Title Insurance Company ("Title Company") and to
Indigo Properties Palm Springs, LLC, a Delaware limited liability company (`Buyer"), as
follows:
(1) That, to the knowledge of City, neither Declarant nor the Property is in violation
of any of the terms and conditions of the Declaration, the Grant Deed, or the DDA (collectively,
"Restrictions");
(2) That, to the knowledge of City, under the Restrictions no breach or default by
Declarant or the Property exists, and no event has occurred that, with the passage of time or
notice, would constitute such a breach or default by Declarant or the Property.
This Estoppel Certificate shall not be relied upon and is not intended for the benefit of any
person or entity other than Title Company and Buyer, and their permitted successors and assigns.
All statements made by City are made as of the date of the Estoppel Certificate and City has no
duty or obligation to supplement or update any such statements after the date of this Estoppel
Certificate. This Estoppel Certificate may only be used to estop City from asserting a position
inconsistent with the statements set forth herein and shall not be used as a basis for imposing any
affirmative obligation or liability upon City.
[Signature page follows]
BMW of Palm Springs Real Estate-City Estoppel Certificate(00304134-2) ORIGINAL BID 1
' I-WR AGREEMENT
Signature Page to Estoppel Certificate
EXECUTED THIS IO tay of AV I u.jxk 2016.
CITY OF PALM SPRINGS,AS SUCCESSOR AGENCY
TO THE COMMUNITY REDEVELOPMENT
AGENCY OF THE CITY OF PAL S
Name:
Its: Executive director
ATTEST: APPROVED
QQh�6b 1• �.o Ao�g�
e:
s: Agency Secretary
APPROVPDO FORM:
By:
Name:
Its: Counsel
BMW of Palm Springs Real Estate-City Estoppel Certificate(00304134-2) 2
2016-0242399
RECORDING REQUESTED BY: 06/14/2016 12:06 PM Fee: $ 0.00
CITY OF PALM SPRINGS Page 1 of 7
Recorded in Official Records
County of Riverside
AND WHEN RECORDED MAIL TO: Peter Aldana
Assessor-County
�tClerk-Recorder
City of Palm Springs 'III I'�11UANI�11{�����iT.��1�1'�.I111'I III
P. O. Box 2743 R q Exam:
Palm Springs, CA 92263
Page DA PCOR Misc Long RFD 1st Pg adtl Pg Cen CC
Attn: Office of the City Clerk
SIZE NCOR SMF NCHG T:
Filing fee EXEMPT per Government Code 6103
CERTIFICATE OF COMPLETION
VIP MOTOR CARS ACQUISITION, INC AND
PARTNER LAND DEVELOPMENT LLC
A0498c
Title of Document
THIS AREA FOR
RECORDER ' S
USE ONLY
THIS PAGE ADDED TO PROVIDE ADEQUATE SPACE FOR RECORDING INFORMATION
($3.00 Additional Recording Fee Applies)
FREE RECORDING REQUESTED BY
AND WHEN RECORDED MAIL TO:
City of Palm Springs in its capacity as
Successor Agency to the
Community Redevelopment Agency of the City of Palm Springs
3200 E. Tahquitz Canyon Way
Palm Springs, CA 92262
Attention: Executive Director
(Space Above This Line for Recorder's Office Use Only)
CERTIFICATE OF COMPLETION koW (,
WHEREAS, by that certain 2005 Disposition and Development Agreement
("Agreement") dated October 27, 2005, by and between the COMMUNITY
REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a public body, corporate
and politic ("Agency"), and VIP MOTOR CARS, LTD, a California corporation wholly owned
by VIP MOTOR CARS ACQUISITION, INC., a California corporation (collectively "Dealer")
and PARTNER LAND DEVELOPMENT, LLC, an Arkansas LLC ("Developer"), Developer
has agreed to develop that certain real property situated in the City of Palm Springs, California,
described on Exhibit"A" attached hereto and made a part hereof; and
WHEREAS, as referenced in the Agreement, Agency shall furnish Developer with a
Certificate of Completion upon completion of construction and development, which certificate
shall be in such form as to permit it to be recorded in the Official Records of the County
Recorder of the County of Riverside, California; and
WHEREAS, the Agreement provided for certain covenants to run with the land, which
covenants were incorporated in the Deed (as defined in the Agreement) or in that certain
Declaration of Covenants, Conditions and Restrictions recorded as Instrument No. 2006-
0324534 of the Official Records of the Riverside County Recorder ("Declaration"); and
WHEREAS, this Certificate of Completion shall constitute a conclusive determination by
Agency of the satisfactory completion by Developer of the construction and development
required by the Agreement and of Developer's full compliance with the terms of the Agreement
with respect to such construction and development, but not of the Deed nor of the Declaration,
the provisions of which shall continue to run with the land pursuant to their terms; and
WHEREAS, Agency has conclusively determined that the construction and development
on the real property described in Exhibit "A" required by the Agreement has been satisfactorily
completed by Developer in full compliance with the terms of the Agreement.
NOW, THEREFORE,
1. The improvements required to be constructed have been satisfactorily completed
in accordance with the provisions of said Agreement.
2. This Certificate of Completion shall constitute a conclusive determination of
satisfaction of the agreements and covenants contained in the Agreement with respect to the
obligations of the Developer, and its successors and assigns, to construct the improvements and
the dates for the beginning and completion thereof.
3. This Certificate of Completion shall not constitute evidence of Developer's
compliance with the Deed or the Declaration, the provisions of which shall continue to run with
the land.
4. This Certificate of Completion shall not constitute evidence of compliance or
satisfaction of any obligation of the Developer to any holder of a mortgage or any insurer of a
mortgage securing money loaned to finance the improvements or any part thereof.
5. This Certificate of Completion is not a Notice of Completion as referred to in
California Civil Code Section 3093.
6. Except as stated herein, nothing contained in this instrument shall modify in any
way any other provisions of the Agreement or any other provisions of the documents
incorporated therein.
IN WITNES WHEREOF, the Agency has executed this Certificate of Completion this
day of Xib .
CITY OF PALM SPRINGS IN ITS CAPACITY AS
SUCCESSOR AGENCY TO THE
COMMUNITY REDEVELOPMENT AGENCY OF
THE CITY OF PALM SPRINGS
By:
Executive Director
ATTEST:
— APPROVED BY C.R.A.
gency Secretary
APP O AST�O�FORQM:
Agency Counsel
CONSENT TO RECORDATION
PARTNER LAND DEVELOPMENT, LLC, an Arkansas corporation, ("Developer")
defined herein and the owner of the fee title to the real property legally described herein, hereby
consents to the recordation of this Certificate of Completion against the real property legally
described herein.
DEVELOPER
PARTNER LAND
/DEVELOPMENT, LLC
By: /
Its: M
Date: C lei
By:
Its:
VIP MOTOR CARS, LTD. A CALIFORNIA CORPORATION WHOLLY OWNED BY
VIP MOTOR CARS ACQUISITION, INC., A CALIFORNIA CORPORATION
(COLLECTIVELY "DEALER"), hereby consents to the recordation of this Certificate of
Completion against the real property legally described herein.
DEVELOPER
VIP MOTOR CARS, LTD.
By:
S:
Date:
By:
Its:
ACKNOWLEDGMENT
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.
4-kaA sas
State of Gefffo n
County of PwlaSKi
On JCMte /0,lQi6 before me,_ c w4r4 1�. &4�er / /V491� vy
(here insert name and title of the off r)
personally appeared J.ery John son
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.
'.. .M1�`: MYCOWASSION��1937
WITNESS my hand and official seal. = - EXPIRES:Juy9.2019
.`', •p�"` PulaskiCoway
Signature C�d�. �.`'�
(Seal)
VIP MOTORS DDA
LEGAL DESCRIPTION OF SITE
ALL THAT PORTION OF THE WEST ONE HALF OF THE SOUTHEAST ONE QUARTER
OF THE NORTHWEST ONE QUARTER OF SECTION 30, TOWNSHIP 4 SOUTH; RANGE
5 EAST, SAN BERNARDINO BASE, ALSO KNOWN AS ALLOTMENT 55 OF THE AGUA
CALIENTE BAND OF CAHUILLA INDIANS AS RECORDED IN THE BUREAU OF
INDIAN AFFAIRS, DESCRIBED AS FOLLOWS.
BEGINNING AT THE SOUTHWEST CORNER OF SAID WEST ONE HALF, THENCE
NORTH 000-05'-46" WEST ALONG THE WEST LINE OF SAID WEST ONE HALF A
DISTANC OF 681.17 FEET TO A POINT ON THE SOUTHERLY LINE OF THE COUNTY
HIGHWAY, NOW KNOWN AS EAST PALM CANYON DRIVE, AS ACCEPTED BY THE
BOARD OF SUPERVISORS OF RIVERSIDE COUNTY, CALIFORNIA BY MINUTE BOOK
27 AT PAGE 10, SAID POINT BEING 40.00 FEET MEASURED AT RIGHT ANGLES
FROM THE CENTERLINE OF SAID EAST PALM CANYON DRIVE;
THENCE SOUTH 730-00'-00"EAST AND PARALLEL TO SAID CENTER LINE A
DISTANCE OF 690.45 FEET TO THE EAST LINE OF SAID WEST ONE HALF;
THENCE SOUTH 000-03'-21"EAST ALONG SAID EAST LINE A DISTANCE OF 477.80
FEET TO THE SOUTHEAST CORNER OF SAID WEST ONE HALF;
THENCE SOUTH 890-52'-11" WEST ALONG THE SOUTH LINE OF SAID WEST ONE
HALF, A DISTANCE OF 659.60 FEET TO THE POINT OF BEGINNING.
CONTAINING 8.78 ACRES
SUBJECT TO ANY EASEMENT OF RECORD IF ANY.
ACKNOWLEDGMENT OF INSTRUMENT
(Cal. Civil Code Section 1181)
State of California )
County of Riverside ) ss.
City of Palm Springs )
On June 2, 2016, before me, JAMES THOMPSON, CITY CLERK, CITY OF
PALM SPRINGS, CALIFORNIA, personally appeared DAVID H. READY, who I
personally know is the CITY MANAGER of the CITY OF PALM SPRINGS whose name
is subscribed to the within instrument and acknowledged to me that he executed the
same in his official and authorized capacity on behalf of the City of Palm Springs, a
California Charter City.
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 the official seal of the City of Palm Springs, California, this
2ch day of June, 2016.
P`M Sp4
iy
c
u m
OIIOppi[O
c
Signature:
MES THOMPSON' CITY CLERK
City of Palm Springs, California
Title or Type of Document
Certificate of Completion —A0498C
, r ,
DOC # 2006-0324533
Record+-,-, n- luested By 05/04/2006 08:00R PeeoNC
CHICAGO i COMPANY Page 1 of s ooc T Tax PaSd
Retarded in officaal Records
County of Riverside
FREE RECORDING REQUESTED BY Larry W. Ward
AND WHEN RECORDED MAIL TO: Assessor, Cc.,nty clerk a Recorder
Community Redevelopment Agency I��I (I I hit �I �II Ilfll� l�l�l III"I ���III
of the City of Palm Springs
3200 E. Tahquitz Canyon Way M 5 U FnGE SIZe CA F^G NOOOR SMF MIGC.
Palm Springs, CA 92262 -
Attn: Executive Director /` J
11 L COPY _ONG Ne=NNO NCHG I EXAM
7P e /� (Space Above This Line for Recorder's Officc Usc Only)
(Exempt from According Fec per Gov
.
Co §6103)
GRANT DEED LA
FOR A VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged,
the COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS, a
public body, corporate and politic ("Grantor") acting under the Community Redevelopment Law
of tale State of California, hereby grants to PARTNERS LAND DEVELOPMENT, LLC, an
Arkansas limited liability corporation ("Grantee"), the real property, hereinafter referred to as the
"Site," in the City of Palm Springs, County of Riverside, State of California, as more particularly
described in Exhibit "A" attached hereto and incorporated herein by this reference.
As conditions of this conveyance, Grantee covenants by and for itself and any successors-
in-interest for the benefit of Grantor and the City of Palm Springs, a municipal corporation, as
follows:
1. Governing Documents. The Site is being conveyed: (i)pursuant to a Disposition
and Development Agreement ("DDA") entered into by and between Grantor and Grantee dated
October 27, 2005; and (ii) subject to the terns of the DDA, this Deed, the CC&Rs, and the
Redevelopment Plan, as those terns are defined in the DDA. The DDA and the Redevelopment
Plan are public records on file in the office of the City Clerk of the City of Palm Springs, located
at 3200 E. Tahquitz Canyon Way, Palm Springs, California 92262, and arc incorporated herein
by this reference. Any capitalized terms not defined herein shall have the meanings ascribed to
them in the DDA. Grantee covenants and agrees for itself and its successors and assigns to
develop the Site in accordance with the DDA and thereafter to use, operate and maintain the Site
in accordance with the Redevelopment Plan, this Deed, and the CC&Rs. The Site is also
conveyed subject to casements and rights-of-way of record and other matters of record. In the
event of any conflict between this Deed and the DDA, the provisions of the DDA shall control.
2. Uses. Grantee on an interim basis, prior to the commencement of construction of
Phase I of the Project, Developer may use the Site for parking purposes. After commencement
of construction of Phase 1, pursuant to the Schedule of Performance, Developer may only use the
Site for automobile, truck, or other vehicle franchise purposes as part of a regional auto dealer,
consistent with the terms, covenants and conditions as set forth in the DDA and the CC&Rs;
provided that with Grantor's approval, which approval shall not be unreasonably withheld,
Grantee may change the use of the Site. In considering whether to grant approval, Grantor may
consider those factors set forth in Section 303 of the DDA. The fleet sales and vehicle leases of
VIP MOTOR CARS, LTD, a California corporation, wholly owned by VIP MOTOR CARS
ACQUISITION, INC., a California corporation (collectively "Dealer") shall be made from the
re a
Site to maximize sales tax return to the City of Palm Springs.(but this shall not require payment
of sales or use taxes on out-of-state business if not required by State law). In addition, Grantee
and Dealer shall use the Site only for those uses as permitted in the DDA. Grantee shall have no
right to subdivide, separate, or partition the Site, except upon prior written consent of Grantor,
which consent shall not be unreasonably withheld. Breach of the terms, covenants, conditions,
and provisions of the DDA and CC&Rs shall be a material breach of this Deed. In general,
Grantee, via Dealer, shall operate the business conducted by Dealer on the Site in a prudent
marmer, exercising customary business practices and hours of operation, to maximize sales and
enhance the reputation and attractiveness of the business.
3. Term of Restriction. Grantee hereby covenants and agrees for itself, its
successors, its assigns, and every suucccssor-in-interest to the Site that Grantee, such successors
and such assigns, shall not develop, operate, maintain or use the Site in violation of the terms and
conditions of the DDA, this Deed and the Redevelopment Plan (unless expressly waived in
writing by Grantor) for the term of the Redevelopment Plan; provided that, however, the
covenants contained in Sections 7 and 8 shall remain in effect in perpetuity.
4. Rid! of Re-Enhy Piior to Completion. Grantee covenants by and for itself and
any successors-in-interest that Grantor shall have the right, at its option, to reenter and take
possession of the Site hereby conveyed, with all vmprovements thereon, and re-vest in Grantor
the estate conveyed to the Grantee, if after Closing and prior to recordation of the Certificate of
Completion, Grantee or successor-in-interest shall commit a material default as described in
Section 705 of the DDA. Pursuant to Section 705 0£ the DDA, Grantor's right to re-enter,
repossess, terminate, and re-vest shall be subordinate to and subject to and be limited by, and
shall not defeat, render invalid, or larit (1) any mortgage, deed of trust, or other security interests
permitted by the DDA, or (2) any rights or interest provided in the DDA for the protection of
holders of such mortgages, deeds of trust,or other security interests.
5. Reservation of Existing Streets. Grantor excepts and reserves any existing street,
proposed street, or portion of any street or proposed street lying outside the boundaries of the
Site w1dch might otherwise pass with a conveyance of the Site.
6. Transfer Restrictions. Grantee covenants that prior to the recordation of the
Certificate of Completion, Grantee shall not transfer the DDA, the Site or any of its interests
therein except as provided in Section 303 of the DDA.
7- Non-Discrimination. Grantee covenants that there shall be no discrimination
against, or segregation of, any persons, or group of persons, on account of race, color, creed,
religion, sex, marital status, age, ancestry, or national origin in the rental, sale, lease, sublease,
transfer, use; occupancy, or enjoyment of the Site, or any portion thereof, nor shall Grantee, or
any person claiming under or through Grantee, establish or permit any such practice or practices
of discrimination or segregation with reference to the selection, location, number, use, or
occupancy of tenants, lessees, subtenants, sublessees, or vendees of the Site or any portion
thereof. The nondiscrimination and non-segregation covenants contained herein shall remain in
effect in perpetuity.
8. form of Nondiscrimination Clauses in Agreements. Grantee shall refrain from
restricting the rental, sale, or lease of any portion of the Site on the basis of race, color, creed,
religion, sex, marital status, age, ancestry, gender or national origin of any person. .All such
deeds, leases, or contracts shall contain or be subject to substantially the following
nondiscrimination or non segregation clauses:
(a) Deeds: In deeds the following language shall appear: "The grantee herein
covenants by and for itself, its heirs, executors, administrators and assigns, and all
persons claiming under or through them, that there shall be no discrimination against or
segregation of any person or group of persons on account of race, color, creed, religion,
sex, marital status, age, ancestry, gender or national origin in the sale, lease, rental,
sublease, transfer, use, occupancy, tenure, or enjoyment of the land herein conveyed, nor
shall the grantee itself, or any persons claiming under or through it, establish or permit
any such practice or practices of discrimination or segregation with reference to the
selection, location, number, use, or occupancy of tenants, lessees, subtenants, sublessees,
or vendees in the land herein conveyed. The foregoing covenants shall run with the
land."
(b) Leases: In leases the following language shall appear: "The lessee herein
covenants by and for itself, its heirs, executors, administrators, successors and assigns,
and all persons claiming under or through them, and this lease is made and accepted upon
and subject to the following conditions:
"That there shall be no discrimination against or segregation of any person or
group of persons on account of race, color, creed, religion, sex, marital status, age,
ancestry, gender or national origin in the leasing, subleasing, renting, transferring, use,
occupancy, tenure, or enjoyment of the land herein leased nor shall the lessee itself, or
any person claiming under or through it, establish or permit any such practice or practices
of discrimination or segregation with reference to the selection, location, number, use, or
occupancy of tenants, lessees, sublessees, subtenants, or vendees in the land herein
leased-"
(e) Contracts: In contracts pertaining to conveyance of realty the following
language shall appear: "There shall be no discrimination against or segregation of any
person or group of persons on account of race, color, creed, religion, sex, marital status,
age, ancestry, gender or national origin in the sale, lease, rental, sublease, transfer, use,
occupancy, tenure, or enjoyment of the land, nor shall the transferee itself, or any person
claiming under or through it, establish or permit any such practice or practices of
discrimination or segregation with reference to the selection, location, number, use, or
occupancy of tenants, lessees, subtenants, sublessees, or vendees of the land."
The foregoing covenants shall remain in effect in perpetuity.
9. Mortgage Protection. No violation or breach of the covenants, conditions,
restrictions, provisions or limitations contained in this Deed shall defeat or render invalid or in
any way impair the lien or charge of any mortgage, deed of trust or other financing or security
instrument permitted by and approved by Grantor pursuant to the DDA; provided, however, that
any successor of Grantee to the Site shall be bound by such remaining covenants, conditions,
restrictions, limitations and provisions, whether such successor's title was acquired by
foreclosure, deed in lieu of foreclosure, trustee's sale or otherwise. The foregoing shall limit any
rights of holders of any mortgage, deed of 'sust, or other financing or security instrument set
forth in the DDA.
10. Covenants to Run With the Land. The covenants contained in this Deed shall be
construed as covenants ranning with the land and not as conditions which might result in
forfeiture of title, and shall be binding upon Grantee, its heirs, successors and assigns to the Site,
whether their interest shall be fee, casement, leasehold, beneficial or otherwise_
IN WITNESS WHEREOF, Grantor and Grantee have caused this instrument to be
executed on their behalf by their respective officers or agents hereunto as of the date first above
written.
"GRANTOR":
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS
Date: _ 1 t ,/0 2 2 0o;� By: -
e David H. Ready, Exccuti rrector
ATTEST:
es Thompson,Assistant ecretary ',,r N': lu1," �fr_ r yr 1'6 4 i'j,,s,pfj
PPROVED AS TO FORM:
WOODRUFF, �LII►N, &SMART
13v:
Dougl . Holland, Agency Counsel
By its acceptance of this Deed, Grantee hereby agrees as follows:
L Grantee expressly understands and agrees that the terms of this Deed shall be
deemed to be covenants running with the land and shall apply to all of the Grantee's successors
and assigns (except as specifically set forth in the Deed).
2. The provisions of this Deed are hereby approved and accepted.
"GRANTEE"
PARTNERS LAND DEVELOPMENT, LLC
By:
Date:
STATE OF CALIFMNIA )
ss.
COUNTY OF RIVERSIDE )
On l / a 2.0 0�5- /�efore zne7 4, z Notary Public,
personally appearcd' 2^ _ , . !d? personally known to me
(er 4enee)-to be the person(4 whose named/are
subscriibed to the wit ` instrument and acknowledged to me thathe/they executed the same
III i ier/their authorized eapacityf4s�, and that byCOheritheir signature on the instrument
the persono or the entity upon behalf of which the person( acted, executed the instrument.
Witness my hand and official seal.
Notary Public
[SEAT.] 4
ELAINE L.WEIMIND
Cemmisslon aY 1399D15
Notary Public-CalRomio
Rlvelsl[le County
�� �Y Comm,Expires Feb 8,20Q7 J
STATE OF CALIFORNIA )
ss.
COUNTY OF RIVERSIDE )
��, J ��' n n On . .2avos" before mz, Cu'rn,�F, opa't..a '"� , personally appeared
c personally known to me ( gory
cuit rtee) to be the persor(r 5'+ whose name(es is arsubscribcd to the within instrument and
acknowledged to me tat he/sh 'the executed the same in his/her Sir uthorized capacit ie
and that by his/he theisignatures(;on the instrument the person&or the entity upon behalf of
which the persoiCss ,acted, executed the instrument.
Witness my hand and official seal.
c
f G�-
Notary Public
[SEAL]
(OOL'4 CPA 9 ctx3'wwo�.clN
4unoo ep{rjeAw yy,,
opuO111�J-:AAnd AJOION ' S
51066£1 N u0AuJ o:
STATE OF CALIFORNIA ) dNgtiO3M'73NIr73
ss.
COUNTY OF RIVERSIDE )
On , before me, personally appeared
, personally (mown to me (or proved to me on the basis of satisfactory
evidence) to be the person(s) whose natne(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 signatures(s) on the instrument the person(s) or the entity upon behalf of
which the person(s) acted, executed the instrument.
Witness my hand and official seal.
Notary Public
[SEAL]
9
LEGAL DESCRIPTION OF SITE
EA`ETBIT"A"
ALL THAT PORTION THE WEST ONE HALF OF TIM SOUTHEAST ONE QUARTER OF THE
NORTHWEST ONE QUARTER OF SECTION 30,TOWNSHIP 4 SOUTH;RANGE 5 EAST,SAN
BERNARDINO BASE,ALSO KNOWN AS ALLOTMENT 55 OF THE AGVA CALIENv7E BAND OF
CAEU'ILLA INDIANS AS RECORDED IN THE BUREAU OF INDIAN AFFAIRS,DESCRIBED AS
FOLLOWS.
BEGINMM AT THE SOUTHWEST CORNEA OF SAID WEST ON'EHALF,THENCE NORTH 00--
05'46"WEST ALONG TEE WEST LINE OF SAID WEST ONEHALF A DISTANCE-OF NI.17 FEET
TO A POINT ONTHE SOUTHERLY LIME OF THE COUNITY'RIGHWAY,NOW KNOWN AS EAST
PALM CANYON DRIVE,AS ACCEPTED BY THE BOARD OF SUPERVISORS OF RIVERSIDE
COUNTY,CALIFORNIA BY 11INUTE BOOK 27 AT PAGE 10.SAID PONT BEING 40.00 FEET
MEASURED AT RIGHT ANGLES FROM T13u CENTERLINE OF SAID EAST PALM CANYON
DRIVE;
TIENCE SOUTH 730-00'-00"EAST AND PARALLEL TO SAID CENTER=-- A DISTANCE OF
690.45 FEET TO THEEAST LINE OF SAID NVEST ONE HALF;
THENCE SOUTH 001-03'-21 EAST ALONG SAID EAST LINE ADSITANCE OF 417.90 I-TET TO
TEE SOUTHEAST CORNER OF SAID WEST ONE HALF;
THEN CE SOUTH 89°-52'-11"WEST ALONG TH£SOLMI LINE-OF SAW 14T-ST ON I-,HALF.A
DISTANCE OF 559A0 FEET TO THE POINT'OF BEGTN KING
00\TAI4ING 8.18 ACRES
SUBJECT TO ANY rcASEMENT OF F CORD IF ANY.
STATEMENT OF DOCUMENTARY TRANSFER TAX DUE
IN ACCORDANCE WITH PROVISIONS OF SECTION 11932 OF THE REVENUE AND
TAXATION CODE, I, THE UNDERSIGNED, REQUEST THAT THE DECLARATION OF
DOCUMENTARY TRANSFER TAX BE MADE ON THIS FORM WIIICH WILL NOT BE
MADE A PART OF THE PERMANENT RECORD AND WILL BE AFFIXED TO AND
RETURNED WITH THE CONVEYING DOCUMENT AFTER THE PERMANENT RECORD
IS MADE.
GOYH LAITY REDEVELOPYENT AGENCY OF THE CITY OF PALM SPRINGS
(NAME OF GRANTOR)
AND
PARTNERS LA20 BEPELOP-=T, LLC _
(NAME OF GRANTEE)
THE UNDERSIGNED DECLARES THAT THE DOCUMENTARY TRANSFER TAX IS
$ 3,036.00 AND IS
COMPUTED ON THE FULL VALUE OF THE INTEREST OR PROPERTY
CONVEYED, OR IS
COMPUTED ON THE FULL VALUE LESS THE VALUE OF LIENS OR
EMCUMBRANCES REMAINING THEREON AT THE TIME OF SALE
THE LAND; TENEMENTS OR REALTY IS LOCATED IN
AN UNINCORP�TED AREA IN THE COUNTY, OR
x THI`CITY OF i
.I�NA T2E OF DECL NT OR SIGNA pP DECLARANTS AGENT)
DOG M 2006-0324El33
05/04/2006
Larry 4l
C.ty o RiverWardside
Rssessor, County Clerk 8 Recorder
DOC # 2006-0324534
Recording Requested By 05/04/2006 06:00p Fee:NC
CHICAGO TITLE COMPANY RecordedPag jr, offic5a6 Records
County of Riverside
Larry W. Ward
Assessor
MAIL TO 10 Cgunty clerk & Recorder
AND WHEN RECORD II11lI I_lllll!Il_lll li i!II Illlll llllll_I I11lllfl 11111114
Community Redevelopment Agency
of the City of Palm Springs
M S U PAGF SIZE OA �FCAR NOCOS FMF R11SG._
P.O. Box 2743 -
Palm Springs, CA 922639
Attu: Executive Director
A R COW LONG SEFUNO NCHG 11%
(5p icc Above This Linc for Recorder's Ofttce U.�Only)
DECLARATION OF COVENANTS CONDITIONS
AND RESTRICTIONS
THIS DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS
("Declaration") is made this _ day of 2005 by and among VIP MOTOR
CARS, LTD, a California corporation, wholly owned by VIP MOTOR CARS ACQUISITION,
INC., a California corporation (collectively "Dealer") and PARTNERS LAND
DEVELOPMENT, LLC an Arkansas limited liability corporation ("Developer"; Developer and
Dealer are collectively referred to as "Declarant"), THE CONIMIJNITY REDEVELOPMENT
AGENCY OF THE CITY OF PALM SPRINGS, CALIFORINIA, a public body, corporate and
politic ("Agency"), and THE CITY OF PALM SPRINGS; a municipal corporation ("City").
RECITALS:
l- Declarant is the fee owner of that certain real property located in the City of Palm
Springs, County of Riverside, State of California more parlicularly described on
Exhibit "I" attached hereto and incorporated herein by reference ("Site").
2. The Site is within the Merged Redevelopment.Project Area No. 1 ("Project Area')
specifically described in the Redevelopment Plan for the Project Area which was
approved and adopted by the City Council of the City of Palm Springs by
Ordinance No. X�& on a- A -82b3 and as subsequently amended by means
of ordinances of the City Council.
3- The Agency and the City have fee or easement interests in various streets,
sidewalIcs and other property within the City and are responsible For the plannin;
and development of land within the City in such a manner so as to provide for the
health, safety and welfare of the residents of the City. That portion of the
Agency's or City's interest in real property most directly affected by this
Agreement is depicted in Exhibit "2" attached hereto and incorporated herein by
reference ("Public Parcel").
4_ The purpose of the Redevelopment Plan is to remedy and alleviate blighted
conditions associated with undeveloped and unproductive land, inadequate street
and circulation systems, unsuitable land mixes, inadequate or total lack of public
street improvements, and the existence of substandard and incompatible uses and
structures. The redevelopment and restriction of the Site in accordance with the
Redevelopment Plan will promote the utility and value of the Site and of the
Project Area,for the benefit of its future owners and the entire City.
5. Pursuant to the Redevelopment Plan, Declarant has entered into a Disposition and
Development ,Agreement ("Agreement") with the Agency which Agreement
places certain restrictions on the Site Pursuant to the City's development
requirements, the City has approved or will approve a site plan for the
development of the Site ("Site Plan"), which plan places certain restrictions on the
Site. Said Redevelopment Plan, the Agreement and Sitc Plan (i) are on file and
may be reviewed in the office of the executive director of the Agency ("Executive
Director"), in the Palm Springs City Hall and (ii) are each incorporated herein by
this reference and made a part hereof as though fully set forth herein.
6. Declarant, the Agency and City intend, in exchange for the entering into the
Agreement by the Agency and the approval of the Site Plan by City, that the
Declarant, its successors and assigns hold, sell, and convey the Site subject to the
covenants, conditions, restrictions, and reservations set forth in this Declaration
and that the Agency and Citv shall have the right and power to enforce the
covenants, conditions, restrictions, and reservations as provided herein.
7. Declarant desires to establish and grant certain covenants, conditions and
restrictions upon the Site for the benefit of the Agency and the City and their
respective successors and assigns for the purpose of enhancing and protecting the
value, desirability and attractiveness of the Site and effectuating the
Redevelopment Plan. Such covenants, conditions and restrictions shall run to the
benefit of the Public Parcel and bind the Site, the Declarant and its successors and
assigns.
NOW, THEREFORE, the Declarant, Agency and City declare, covenant and agree, by
and for themselves, their heirs, executors and assigns, and all persons claiming tinder or through
them that the Site shall be held, transferred, encumbered, used, sold, conveyed, leased and
occupied subject to the covenants and restrictions hereinafter set forth, which covenants are
established expressly and exclusively for the use and benefit of the Agency and City.
"Agency"
-ATTEST° COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY" OF PALM SPRINGS,
CALIFORNIA, a public body, corporate and politic
sistant Secretary Chairman
"City"
ATTEST: CITY OF PALM SPRINGS,
a municipal corporation
By:
Clerk Mayor �l ,
APPROVED AS TO FORM: °VG4J D11 yval
1 zS& 011WD6 A64q*G
APPROM BY CITYC01JPIM
Wiiaiu�n�sel
CALIFORNIA
s,d %r.3 it
ALL-PURPOSE
ACKNOWLEDGEMENT
STATE OF CALIFORNIA )
COUNTY OF giverside )
On�7�T. f �ez76 before me, ELAINE L. WEDEKIND Notary a„hjj n
DAT£ NAME,TITLE OF OFFICER•E.G„'JANE DOE,NOTARY PUBLIC'
personally appeared, Ran Oden and James Thompson ----------.-------------
personally known tome to be the person(s)
whose name(s) Mare subscribed to the within instrument and acknowledged to methatknelahtbE
they executed the same in hi5Abar/their authorized capacity(ies), and that by '/their
signatureW on the instrument the person(,or the entity upon behalf of which the person(j)acted,
executed the instrument.
WITNESS my hand and official seal. 01 , EUVNE 1.WEDEKIND Nolory Public•CCIIIornia
RIvErside COUntymm.Expires Feb S,2007
NOTARY PUBLIC SIGNATURE
OPTIONAL INFORMATION
TITLE OR TYPE OF DOCUMENT
DATE OF DOCUMENT NUMBER OF PAGES
SIGNER(S)OTHER THAN NAMED ABOVE
TERMS AND CONDITIONS
ARTICLE 1
COVENANTS, CONDITIONS AND RESTRICTIONS
a) General. The Site shall be developed and used only as permitted by the
restrictions contained in the Site PIan, Redevelopment Plan and the Agreement.
b) Use. Developer acknowl edges and agrees it may only use the Site for automobile,
truck, or other vehicle franchise and related purposes, consistent with the terms, covenants and
conditions as set forth in the Agreement and the CC&Rs; provided that with Agency's approval,
which approval shall not be unreasonably withheld, Developer may change the use of the Site.
In considering whether to grant approval, Agency may consider those factors set forth in Section
303 of the Agreement. Developer's fleet sales and vehicle leases shall be made from the Site to
maximize sales tax return to the City of Palm Springs (but this shall not require payment of sales
or use taxes on out-of-state business if not required by State law), In general, Developer shall
operate the business conducted by it on the Site in a prudent manner, exercising customary
business practices and hours of operation, to maximize sales and enhance the reputation and
attractiveness of the Site.
c) Maintenance Agreement. Declarant, for itself and its successors and assigns,
hereby covenants and agrees to be responsible for the following:
i) Maintenance and repair of the Site and all related on-site improvements,
easements, rights-of-way and landscaping thereon at its sole cost and expense, including,
without limitation, buildings, parking areas, lighting, signs and walls, in a first class
condition and repair, free of rubbish, debris and other hazards to persons using the same,
and in accordance with all applicable laws, rules, ordinances and regulations of all
federal, state, and local bodies and agencies having jurisdiction over the Site_ Such
maintenance and repair shall include, but not be limited to, the following: (i) sweeping
and trash removal; (ii) the care and replacement of all shrubbery, plantings, and other
landscaping in a healthy condition, or the replacement of damaged or dying landscaping
with equivalent landscaping materials of then-comparable size and maturity; and (iii) the
repair, replacement and re-striping of asphalt or concrete paving using the same type of
material originally installed, such that the paving is at all times kept in a level and smooth
condition.
ii) Maintenance of the Site in such a manner as to avoid (i) the reasonable
determination of a duly authorized official of the Agency or City that a public nuisance
has been created by the absence of adequate maintenance such as to be detrimental to the
public health, safety or general welfare or (ii) a condition of deterioration or disrepair
which causes appreciable harm or is materially detrimental to property or improvements
within one thousand(1,000)feet of such portion of the Site.
c) Parking and Driveways. Declarant shall be responsible for assuring that the
driveways and traffic aisles on the Site be kept clear and unobstructed at all times. No vehicles
or other obstruction shall project into any of such driveways or traffic aisles. Vehicles associated
with the operation of the Site, including delivery vehicles, vehicles of employees and vehicles of
persons with business oir the Site shall park solely on the Site and shall not park on streets or
adjacent property.
d) Other Rights of City. In the event of any violation or threatened violation of any
of the provisions of this Declaration, then, in addition to, but not in lieu of, any of the rights or
remedies the City may have to enforce Ure provisions hereof, the City shall have the right to
withhold or revoke, after giving written notice of said violation, any building permits, occupancy
permits, certificates of occupancy, business licenses aitd similar matters or approvals pertaining
to the Site or any part thereof or interests therein as to the violating person or one threatening
violation.
e) No City Liability. The granting of a right of enforcement to the City does not
create a mandatory duty on the part of the City to enforce any provision of this Declaration. The
failure of the City to enforce this Declaration shall not give rise to a cause of action on the part of
any person. No officer or employee of the City shall be personally liable to the Declarant, its
successors,transferees or assigns, for any default or breach by the City under this Declaration.
0 Compliance With Ordinances. Declarant shall comply with all ordinances,
regulations and standards of the City and Agency applicable to the Site. Declarant shall comply
with all rules and regLilatious of any assessment district of the City with jurisdiction over the
Site.
g) Outside Storage. Other than the storage of vehicles for sales and lease, trash or
other storage in any outside storage areas approved by the Agency or as required by law, no
storage of any kind shall be permitted outside the building(s) located on the Site. Adequate trash
enclosures shall be provided and screened. Locations of such areas and types of screening must
be approved by the Executive Director and, where applicable, the City. Crates for trash storage
area shall be kept closed at all times except when in actual use.
h) Buildings and Equipment. Any construction, repair; modification or alteration of
any buildings, equipment, structures or improvements on the Site shall be subject to the
following restrictions:
i) All mechanical and electrical fixtures and equipment to be installed on
the roof or on the ground shall be adequately and decoratively screened. The screening
must blend with the architectural design of the building(s). Equipment on the roof must
be at least six (6) inches lower than the parapet line and adequately screened. All details
and materials of said screening shall be approved by the Executive Director prior to
installation.
ii) The texture, materials and colors used on the buildings, as well as the
design, height, texture and color of fences and walls shall be subject to the approval of
the Executive Director.
iii) Signs on the Site shall conform to the standards and ordinances of the
City and to a uniform design theme approved by the City. Any signs installed on the Site
shall conform to said design scheme and shall be approved by the Executive Director
prior to installation.
iv) Lights installed on the building shall be a decorative design. No lights
shall be permitted which may create any glare or have a negative impact on the
residential areas, if any, existing around the Site. No light stand on any portion of the
Site shall be, higher than filieen (15) feet. The design and location of any lights shall be
subject to the approval of the Executive Director.
v) No fences, signs, gas pumps, or any other similar facilities shall be
constructed or provided on the Site without the prior approval of the Executive Director.
vi) Manufacturing plant use may be permitted on the Site, subject to the
limitations provided in the Municipal Code of the City. Specifically, prior to such use,
suitable evidence must be provided to the Executive Director that no negative
environmental effect shall be caused by reason of odor, noise, glare, vibration, fumes,
smoke, particulate matter, refuse matter, and that no unsafe or dangerous conditions are
to be created such as the manufacture, use or storage of explosive, radioactive materials
or other similarly hazardous materials.
i) Public Agencv Rights of Access- Participant hereby grants to the Agency, the
City and other public agencies the right, at their sole risk and expense, to enter the Site or any
part thereof at all reasonable times with as little interference as possible for the purpose of
construction, reconstruction, relocation, maintenance, repair or service of any public
improvements or public facilities located on the Site. Any damage or injury to the Site or to the
improvements constructed thereon resulting from such entry shall be promptly repaired at the
sale expense of the public agency responsible for the entry.
ARTICLE 2
ENFORCEMENT
a) Termination. No breach of this Declaration shall entitle any parry to cancel,
rescind or otherwise terminate this Declaration, or excuse the performance of such parry's
obligations hereunder, provided that, however, this limitation shall not affect in any manner any
other rights or remedies which the parties may have by reason of such breach.
b) Injunction. Notwithstanding anything contained herein to the contrary, in the
event of any violation or threatened violation of any of the terms, covenants, restrictions and
conditions contained herein, in addition to the other remedies herein provided, the parties hereto
shall have the right to enjoin such violation or threatened violation in a court of competent
jurisdiction.
c) Other Rights of Agency and City. In the event of any violation or threatened
violation of any of the provisions of this Declaration, then in addition to,but not in lieu of. any of
the rights or remedies the Agency and City may have to enforce the provisions hereof, the
Agency and City shall have the right (i) to enforce the provisions hereof as a party hereto and as
an owner of the Public Parcel, and (ii) to withhold or revoke, after giving written notice of said
violation, any building permits; occupancy permits, certificates of occupancy, business licenses
and similar matters or approvals pertaining to the Site or any part thereof or interests therein as to
the violating person or one threatening violation.
d) Failure to Perfonn; Lien. if any owner of the Site defaults on the performance of
any of its obligations hereunder, the Agency or City, their employees, contractors and agents
may, at their sole option, and after making reasonable demand of the owner of the Site that it
cure said default, enter onto the Site for the purpose of curing the default. In making an entry,
the Agency or City shall give the owners of the Site, or their representative, reasonable notice of
the time and manner of said entry and said entry shall only be at such times and in such manners
as is reasonably necessary to carry out this Agreement. In such event,the owner of the Site shall
reimburse the Agency or City for all costs and expenses related to the curing of said default. If
the Agency or City is not reimbursed for such costs by the owner of the Site within all days after
giving notice thereof, the same shall be deemed delinquent, and the amount thereof shall bear
interest thereafter at a rate of ten percent (10%) per annum until paid. Any and all delinquent
amounts, together with said interest, costs and reasonable attorneys' fees shall be a personal
obligation of the owner of the Site as well as a lien and charge,with power of sale, upon the Site.
The Agency may bring an action at law against the owner of the Site to pay any such sums.
The lien provided for hi this Section may be recorded by the Agency as a Notice of Lien
against the Site in the Office of the County Recorder, County of Riverside, signed and
acknowledged, which Notice of Lien shall contain a statement of the unpaid amount of costs and
expenses. The priority of such lien when so established against the Site shall date from the date
such notice is filed of record and shall be prior and superior to any right, title, interest, lien or
claim which may be or has been acquired or attached to such real property al the time of
recording of such lien,but shall be junior and subordinate to maiters having a priority prior to the
date such notice is recorded; provided that, however, said lien shall be subordinate to any bona
fide mortgage or deed of trust and any purchaser at any foreclosure or trustee's sale under any
such bona fide mortgage or deed of trust as provided in Section 3.3 below. Such lien shall be for
the use and benefit of the person fling the same, and may be enforced and foreclosed in a suit or
action brought in any cows of competent jurisdiction. Any such lien may be enforced by the
Agency or City by taking either or both of the following actions concurrently or separately (and
by exercising either of the remedies set forth below shall not prejudice or waive its rights to
exercise the remedy): (i) bring an action at law against the defaulting party personally obligated
to pay such lien or (ii) foreclose such lien in accordance with the provisions of Section 2924 of
the California Civil Code applicable io the exercise of powers of sale or mortgages and deeds of
trust, or any other manner permitted by California law.
Upon the timely curing of any default for which such lien was recorded, the City or
Agency shall record an appropriate release of such lien, and sign any other documents
reasonably necessary to satisfy title insurance requirements, upon payment by the owner of the
Site of a reasonable ree to cover the costs of preparing and recording such release, together with
the payment of such other costs, including without limitation, reasonable attorneys fees, count
costs, interest or other fees which have been incurred.
ARTICLE 3
ENCUMBRANCES, MORTGAGE PROTECTION AND TAXES
a) Participant's Breach Not to Default Mortgage Lieu. Declarant's breach of any of
the covenants or restrictions contained in this Declaration or the Agreement shall not defeat or
render invalid the lien of any mortgage or deed of trust made in good faith and for value as to the
Site or any pan thereof or interest therein, whether or not said mortgage or deed of trust is
subordinated to this Declaration or the Agreement; but, unless otherwise herein provided, the
terms, conditions, covenants, restrictions and reservations of this Declaration and the Agreement
shall be binding and effective against the bolder of any such mortgage or deed of trust and any
owner of any of the Site or any part thereof whose title thereto is acquired by foreclosure,
trustee's sale, or otherwise.
b) Amendments or Modifications to Declaration. No purported rule, regulation,
modification, amendment and/or termination of this Declaration or the Agreement shall be
binding upon or affect the rights of any mortgagee holding a mortgage or deed of nest upon the
Site that is recorded in the Office of the Riverside County Recorder prior to the date any such
rule, regulation, modification, amendment or termination is recorded in such office, without the
prior written consent of such mortgagee.
c) Liens Subordinate. Any monetary lien provided for herein shall be subordinate to
any bona fide mortgage or deed of trust covering an ownership interest or leasehold or
subleasehold estate in and to the Site and any purchaser at any foreclosure or trustee's sale (as
well as any by deed or assignment in lieu of foreclosure or trustee's sale) under any such
mortgage or deed of trust shall take title free from any such monetary lien, but otherwise subject
to the provisions hereof; provided that, after the foreclosure of any such mortgage and/or deed of
trust, all other assessments provided for herein to the extent they relate to the expenses incurred
subsequent to such foreclosure, assessed hereunder to the purchaser at the foreclosure sale, as
owner of the Site after the date of such foreclosure sale, shall become a lien upon the Site and
may be perfected and foreclosed as provided in Section 2(d).
d) Payment of Taxes and Assessments_ Declarant shall pay, when due, all real estate
taxes and assessments assessed or levied against the Site. Nothing herein contained shall be
deemed to prohibit Declarant from contesting the validity or amounts of any tax or assessments
nor to limit the remedies available to Declarant with respect thereto.
ARTICLE d
COVENANTS TO RUN WITH THE LAND
a) Covenants Running With the Land. This Declaration is designed to create
equitable servitudes and covenants appurtenant to the Public Parcel and running with the Site.
Declarant hereby declares that all of the Site shall be held, sold, conveyed, encumbered,
hypothecated, leased, used, occupied and improved subject to these covenants, conditions,
restrictions and equitable servitudes, all of which are for the purposes of uniformly enhancing or
protecting the value, attractiveness and desirability of the Site and effectuating the
Redevelopment Plan. The covenants, conditions, restrictions, reservations, equitable servitudes,
liens and charges set forth herein shall: (i) run with the Site, (ii) be binding upon all persons
having any right, title or interest in the Site, or any part thereof, their heirs, successive owners
and assigns, (iii) inure to the benefit of every portion of the Public Parcel and any interest
therein, (iv) inure to the benefit of the Agency, City and their successors and assigns and
successors in interest, (v) shall be binding upon Declarant, its successors and assigns and
successors in interest; and (vi) may be enforced by the Agency and City.
Agency and Declarant hereby declare their understanding and intent that the burden of
the covenants set forth herein touch and concern the land in that Declarant's legal interest in the
Site is rendered less valuable thereby. Agency and Declarant hereby further declare their
understanding and intent that the benefit of such covenants touch and concern the land by
enhancing and increasing the enjoynent and use of the Site by the citizens of the City and by
furthering the public purposes for which the Agency was formed.
b) Agreement Arnong Declarant, Agency and City. The Declarant, in exchange for
the Agency entering into the Agreement the City's approval of the Site Plan, hereby agrees to
hold, sell, and convey the Site subject to the covenants, conditions, restrictions and reservations
of this Declaration. Declarant also grants to the Agency and City the right and power to enforce
the covenants, conditions, restrictions and reservations contained in this Declaration against the
Declarant and all persons having any right, title or interest in the Site, or any part thereof their
heirs, successive owners and assigns.
ARTICLE 5
TERM
The covenants, conditions and restrictions contained in this Declaration shall remain in
effect for the term of the Redevelopment Plan.
ARTICLE 6
MISCELLANEOUS
a) Modification. This Declaration may not be modified, terminated or rescinded, in
whole or in part, except by a written instrument duly executed and acknowledged by the parties
hereto, their successors or assigns, and duly recorded in the Office of the County Recorder,
County of Riverside.
b) Amendments. Any amendment to any provision of this Article or to any other
provisions of this Declaration enforceable by the City shall require the prior written consent of
the City.
c) Governing Law. This Declaration shall be governed by and construed in
accordance with the laws of the State of California.
d) Severability. The invalidity or unenCorceability of any provision of this
Declaration with respect to a particular party or set of circumstances shall not in any way affect
the validity and enforceability of any other provision hereof, or the same provision when implied
to another party or to a different set of circumstances.
e) Notices. Any notice to be given under this Declaration shall be given by personal
delivery or by depositing the same in the United States Mail, certified or registered, postage
prepaid, at the following address:
Agency: The Community Redevelopment
Agency of The City of Palm Springs
P.O. Box 2743
Palm Springs, CA 92263
Attn: Executive Director
City: City of Palm Springs
P.O. Box 2743
Palm Springs, CA 92263
Attn: City Manager
With Copy to: The Community Redevelopment Agency of The
City of Palm Springs
P.O. Box 2743
Palm Springs, CA 92263
Attn: City Attorney
Declarant: Partners Land Development
11300 Rodney Parham Road, Suite 300
Little Rock, Arkansas 72212
Attn: Jerry G. Johnson
Willi Copy to: VIP Motor Cars, LTD
11300 Rodney Parham Road, Suite 300
Little Rock, Arkansas 72212
Attn: Jerry G. Johnson
Any notice delivered personally shall be effective upon delivery. Any notice given by
mail as above provided shall be effective forty-eight (48) hours after deposit in the mails. Any
party may change address for notice by giving written notice of such change to the other party.
9 Countcmarts. This Declaration may be executed in any number of counterparts
each of which shall be an original but all of which shall constitute one and the same document.
IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date
first written above.
"Declarant"
"DEVELOPER"
PARTNERS LAND DEVELOPMENT, LLC,
an Arkansas limited liability corporation
By:
It .
By: A,
Its: /-P,.+{;-vim
"DEALER"
VIP MOTOR CARS, LTD, a California
corporation, wholly owned by VIP MOTOR
CARS ACQL:ISITION, INC.,a California
corporation
By:
I ,
B •
STATE OF CALIFORNIA )
��"�� I z ) ss.
COUNTY OF tC"Ldi )
°� / G1
On �/,.?S��� ]�efore me �R. �. E�����Jd 7�` ersonall
appeared i / I C. 1� 2 L. TL/)r
i, i V 41 � personally
known to me (or proved to me on the basis of satisfactory evidence) to be the persono whose
nam6ss isC�e>subsctibed to the within instrument and acknowledged to me that he/she/411D
executed the same in his/hcfeOauthorized capacitf(iesj and that by his/he he sib tature(Q
on the instrument the perso (r);or the entity upon behalf of which the person s(f] acted, executed
the instrument.
Witness my hand and official seal.
r
� .
EWNE t.WEDFKIND -�-���'�-��'
g Commission 8 I399015 otary Public J l
[SEA ,]- - � Notary PWpc-Caefomlp �y
L' „ Rrver.Jtle county
G My Comm.Exptrms Fob 8,2007
r�S�.lLr-i�a,4-5
STATE OF GA I+F9le�f.A )
ss-
COUNTY OF PUL I )
On dew before me, n�N�tit ��rwQh2r�a personally
appeared G t c W else�� way'
personally
known to me (or proved to me on the basis of satisfactory evidence) to be the person(s) whose
namc(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they
executed the same in Irs/herhheir 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. ,,,.,;,,,
,"v" .E'' a(i,�
,,
Witness my hand and offs iaY seal. r
CAr�wwc g — �U '
-�sr - Notaty Public ��u
[SEAL]
EXHIBIT "1"
LEGAL DESCRIPTION OF THE SITE
ALL THAT PORTION THE 1VEST O'M 11P.LF Or TEE SOUTHEAST ONE QTJARTI- OF'rAE
NORT15VFST ONE QUARTER OF SECTION 30,TONYNSITIP 4 SOUTH:RA-NGE 5>;ASL, SAN
BERNARMTO BASE,ALSOICNOWN AS A.LLOTMENrT 55 OF THE AQUA CALIZIN- E BAND ND OF
CAHUILLA INDIANS AS RECORDED INTHE BUREAU OF INDIAN AFFAMS,DESCRMED AS
FOLLOWS.
BEGINl',VG AT THE SOU E[WEST CORNER OF SAID WL-ST ONMRALF,THENCE NORTH 00'-
05'-46"WEST ALONG THE WEST IM OF SAID)NIM ONE HALF A DISTANCE OF 681.17 FEbT
TOAPOINTONTHE5OUIFZMYLLNEOF THE COUNT YIiIGIIW AY,NOWKN0 WNASFAST
PALM CANI'ONDME.AS ACCEPTED BY THE BOARD OF SUPERti7SORS OF RI=1l:TE
CODNTY,CALWORNIA BY MIND M BOOK 27 AT PAGE 10.SAID POINT BEING 40,00 FEET
N EASURED AT RIGHT ANGLES FROM Z f7-CE fMRLINE OF SAID EAST PALM CANYON
DRAT,
THENCE SOUTH 730-00'-00"EAST AND P_kRnLLF1,TO SMD CENTER LSNE A DISTANCE OF
690.45 FEE I TO THE EAST LIVE OF SAID NEST ONE HALF;
THENCE SOLITH 000-07'-21"EAST'ALONG SAID BAST LWE A DSIT?NCE OF 477.S0 FEEL TO
THE SOUTHEAST C,ORNEROF SAID WEST O T HALF;
THENCE SOUTIT W-52'-11`NVEST ALONG THE SOAT11 LINZ OF SAID\iTST 011TE 14A.IF,A
DISTANCE OF 659.60 FEET TO THE POINT OF BEGINNING.
CONTAINING 8.78 ACRES
SUBIECT TO ANY EASEMENT OF RECORD TF ANY_
GXHIBd1 '1"
Page 1 or:
/r00
e
Rccurdcr
LARRY W. WARD PC sox 751
COUNTY OF RIVERSIDE. Rivc>4c,CA 91_501-0751
10
ASSESSOR-COUNTY CLERK-RECORDER (951)4"6r7001)htlpJltirnide.aarclkrx ann
NOTARY CLARITY
Under the provisions of Government Code 27361.7, 1 certify under the penalty of perjury
that the notary seal' on the document to which this statement is attached reads as
follows:
Name of Notary: �( �� �� eu lmp I f r- I
Commission #: k / Jq
Place of Execution:
Date Commission Expires:
Date:
Signature: _—
Print Name:
ACR I86P-AS4RE0(Ro OV3005)
CHICAGO TITLE COMPANY
0
(760) 345-0750 Fax (760) 772-8463
November 2, 2005
TO: LINDA SALCIDO
CHICAGO TITLE COMPANY
78-000 Fred Waring Drive
SUITE 103
PALM DESERT, CALIFORNIA 92211
Escrow No. 52050042 - K42
Property vacant land APN 681-070-016, Palm Springs, CALIFORNIA
The undersigned hereby acknowledge(s) receipt of a copy of the schecule B documents for the subject property
APN 681-070-016
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA
A PUBLIC BODY, CORPORATE AND POLITIC
CH�AN' .�
G'HAIRMP,
ATT E q:4YIfw 1A �b�1!'111��f St:.��i.'i y�b
—-BY
I- w UvYfO iy,�. lYu—K G
AS�fSTANT SECRETARY ,� r tf�r p i`Ir, !!J
/ 4�
/APPROVED FORM;
NJOODR RADLIN&SMART
BY:
DOUGLASC L ND,AGENCY COUNSEL
PREAPP-02/10/00bk
CHICAGO TITLE COMPANY
0
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax (760)772-8463
November 2,2005
JOHN S. RAYMOND
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS
3200 E. TAHQUITZ CANYON WAY
PALM SPRINGS, CA 92263
Re:vacant land APN 681-070-016, Palm Springs, CALIFORNIA
Escrow No:52020042A
Dear MR. RAYMOND:
In connection with the above referenced escrow,we enclose the following items:
PLEASE SIGN AND RETURN (RETAIN ADDITIONAL COPY FOR YOUR FILES):
Escrow Instructions
(2)Amendments dated November 2,2005
Tax Withholding Notice
Estimated Closing Statement
PLEASE FILL IN COMPLETELY, SIGN AND RETURN:
Loan Information Sheet
1099 Form
593-C
If we can provide any additional information or answer any questions you may have, please give us a call.
Thank you for choosing Chicago Title Company.
Sincerely,
CHIWj
CAGOTITLE COMPANY
Linda Salcido
Escrow Officer
Si LTR--06/22/96bk
AMENDMENT TO ESCROW INSTRUCTIONS
TO: CHICAGO TITLE COMPANY, licensed bythe California Department of InsuraM AND RETURN
e
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 52050042A-K42 Escrow Officer LINDA SALCIDO Date November 2, 2005
Property: vacant land APN 681-070-016, Palm Springs, CALIFORNIA
I. Your original escrow instructions dated October 25,2005 and any amendments and/or supplements thereto,are
2. hereby amended and/or supplemented as set forth herein:
3.
4. Buyers and Sellers acknowledge and agree that,with the exception of receipt by Escrow Holder of funds and
5• documents required pursuant to the agreements as amended herein, all conditions to the close of escrow have been
6• satisfied and/or waived.
7.
s• ALL OTHER TERMS AND CONDITIONS ARE TO REMAIN THE SAME.
s.
10,
it.
12• COMMUNITY REDEVELOPMENT AGENCY
13. OF THE CITY OF PALM SPRINGS, CALIFORNIA
14. A PUBLIC BODY, CORPORATE AND POLITIC
1s.
16, ?
17. BY:K ��
Is. CHAIRMAN
19. ATTEST:
2D.
V2• AS N TANT SECRETARY
23, /
za.; !
;5:/APPROVED OFORM;
26: WOODRU F RADLIN & ART
28. BY: 0 ��—
zs. DOIUGLAS C. OLLAND,AGENCY COUNSEL
30.
31. PARTNERS LAND DEVELOPMENT, LLC,AN ARKANSAS LIMITED LIABILITY CORPORATION
32.
33. BY:
34. ITS;
35.
36.
37. BY:
38. ITS:
39.
40.
41.
42,
43.
44.
45.
46.
47.
48.
49.
S(1
'M AND RETURN
CHICAGO TITLE COMPANY
78-000 Fred Waring Drive,SUITE 103,PALM DESERT,CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 52050042 - K42 Escrow Officer LINDA SALCIDO Date November 3, 2005
NOTICE OF TAX WITHHOLDING REQUIREMENTS
In accordance with Sections 18662 and 18668 of the California Revenue and Taxation Code,a buyer may be required
to withhold an amount equal to THREE AND ONE-THIRD percent (3-1/3%) of the sales price in the case of a
disposition of California real property interest by either:
1. A seller who is an individual or when the disbursement instructions authorize the proceeds he sent to a
"financial Intermediary"of the seller,OR
2. A corporate seller that has no permanent place of business in California.
The buyer may become subject to penalty for failure to withhold In an amount equal to the greater of Ten percent(10%)
of the amount required to be withheld or five hundred dollars($500).
However, notwithstanding any other provision included in the California statutes referenced above, no buyer will he
required to withhold any amount or be subject to penalty for failure to withhold if:
1. The sales price of the California real property conveyed does NOT exceed one hundred thousand
dollars($100,000),OR
2. The seller executes a written certificate, under the penalty of perjury, certifying that the seller is a
corporation with a permanent place of business In California,OR
3 The seller,who is an individual,executes a written certificate,under the penalty of perjury,of any of the
following:
A. That the California real property being conveyed is the Seller's principal residence
(within the meaning of Section 121 of the Internal Revenue Code)-
B. That the California real property being conveyed is or will be exchanged for property of
like kind (within the meaning of Section 1031 of the Internal Revenue Code),but only to
the extent of the amount of gain not required to be recognized for California income tax
purposes under Section 1031 of the Internal Revenue Code-
C. That the California real property has been compulsorily or involuntarily converted
(within the meaning of Section 1033 of the Internal Revenue Code) and that the seller
Intends to acquire property similar or related in service or use so as to be eligible for
nonrecognition of gain for California income tax purposes under Section 1033 of the
Internal Revenue Code.
D. That the California real property transaction will result in a loss for California income tax
purposes.
The seller is subject to penalty for knowingly filing a fraudulent certificate for the purpose of avoiding the withholding
requirement.
The California statutes referenced above Include provisions which authorize the Franchise Tax Board to grant reduced
withholding and waivers from withholding on a case-by-case basis for corporations or other entities.
Additionally,under the federal"Foreign Investment in Real Property Tax Act"(FIRPTA)as amended and
related laws, a buyer may be required to withhold, and could be liable for, an additional tax equal to
TEN percent(10%) of the sales price of the real property being conveyed, in the case of a seller who
may be classified as a"foreign person"under Section 1445 of the Internal Revenue Code of 1986.
IRS Regulations state that a foreign seller lacking an Individual Taxpayer Identification Number(ITIN)
will automatically be subject to withholding upon the transfer of real property.A seller may apply for an
ITIN,however,it must be obtained priorto the time of transfer.
The Federal statute referenced above includes provisions that authorize the IRS to grant reduced
withholding and waivers from withholding on a case-by-case basis. The parties herein may wish to
investigate these options with their own legal or financial advisors or the Internal Revenue Service.
(Page One of Two)
Nry R-12/14/02w
C]HICAGO TITLE COMPANY
78-000 Fred Waring Drive,SUITE 103,PALM DESERT,CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 052050042 Escrow Officer LINDA SALCIDO Date November 3, 2005
NOTICE OF TAX WITHHOLDING REQUIREMENTS
(Continued)
The escrow holder will not undertake to withhold or remit funds to any taxing authority, unless specifically instructed in
writing to do so.In the event escrow is so requested,appropriate mutual instructions will be required.
DUE TO THE COMPLEXITY OF THESE TAX LAWS, AND THE PENALTY PROVISIONS FOR
FAILURE TO WITHHOLD, IT IS RECOMMENDED THAT THE PARTIES TO THIS TRANSACTION
SHOULD SEEK THE PROFESSIONAL ADVICE AND COUNSEL OF AN ATTORNEY,
ACCOUNTANT OR FINANCIAL ADVISOR CONCERNING THE EFFECT OF THESE LAWS ON THIS
TRANSACTION AND SHOULD NOT ACT ON ANY STATEMENTS MADE OR OMITTED BY THE
ESCROW OR CLOSING OFFICER,
COMMUNITY REDEVELOPMENT AGENCY PARTNERS LAND DEVELOPMENT, LLC, AN
OF THE CITY OF PALM SPRINGS, CALIFORNIA ARKANSAS LIMITED LIABILITY CORPORATION
A PUBLIC BODY, CORPORATE AND POLITIC
BY:
/ ITS;
CHAIRMAN '~—
AITER , BY:
ITS:
_.�n >�etc=��"2r`rtd=L
ASS• STANT SECRETARY
APPROVED AS FORM;
' WOODRUFF, LIN & SMART
BY:
DOUGLAS C. HOLLAND, AGENCY COUNSEL
(Page Two of Two)
Niwaz-ii/n�oa na
ESCROW INSTRUCTIONS
SIGN AND RRTUfi
TO: CHICAGO TITLE COMPANY, licensed by the California Department of Insurance
78-000 Fred Waring Drive,SUITE 103,PALM DESERT,CALIFORNIA 92211
(760)345-0750 Fax(760)772-B463
Escrow No. 52050042A-K42 Escrow Officer LINDASALCIDO Date October25,2005
1. On or before the TIME LIMIT DATE of on or before November 7,2005
2.
3. The undersigned hands you a"2005 Disposition and Development Agreement"dated October 25,2005,hereinafter
4. the"Agreement",executed by'The Community Redevelopment Agency of the City of Palm Springs,as Seller and
5. "Partners Land Development,L-C,an Arkansas limited liability Corporation",as Buyer
6.
7. You are authorized to act in accordance with these instructions,and any amendments thereto.You are not to be
8. concerned with or liable for,any memoranda or other agreements between the parties as contained in the attached
9. document,except those relating to the transfer of title,prior to the close of escrow.the parties to this transaction wil
10 cause any balance of funds due and or documents required to be deposited with you.
11.
12. THE FOLLOWING ADDITIONAL TERMS AND CONDITIONS SHALL APPLY IN THIS ESCROW:
13,
14. The following supplemental escrow instructions,are added for clarification purposes and for the purposes of enabling
M Chicago Title Company as Escrow Holder to utilize said agreement as your escrow instructions.In the event of a
16, conflict between the agreement and the escrow holder's general provisions the terms of the agreement shall control.
17,
Is. THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS hands you a Grant Deed
19, conveying the property described herein to vestee named below;
20.
21. "PARTNERS LAND DEVELOPMENT,L-C,AN ARKANSAS LIMITED LIABILITY CORPORATION"buyer(s)herein;
22.
23. which you are instructed to use when you can obtain a CLTA OWNERS POLICY and any policy required by buyer's
24. lender,(IF ANY)which policies of title insurance will contain the insuring clauses,exceptions,exclusions,provisions
25 and stipulations customarily contained in the printed provisions of such form with liability not less than$2,760,000 00
2e. describing the land in the City of Palm Springs County of RIVERSIDE State of California,described as:
27.
28. APN 681-808-016,marked as parcel EXHIBIT A,which is attached hereto and incorporated herein by reference,
29. COVERING approximately 8.78 acres per survey,vacant land in Palm Springs,California.
30.
31. Subject to: 1. Real Property General and special taxes for fiscal year 2005/2006,and subsequent years,including
32, reassessments if any and including any special district levies or personal property taxes,payment for which are
33. included therein and collected therewith and improvement bond assessments,when applicable.
34.
35. 2, The Lien of Supplemental Taxes,If any,assessed pursuant to the provisions of Chapter 3.5(commencing with
36 Section 75)of the Revenue and Taxation Code of the State of California.
37.
3e. 3. Covenants,conditions,restrictions,rights of way,easements and reservations of record.
3s, ADDITIONAL INSTRUCTIONS:
40.
41. A. The"Effective Date"as referenced in the Agreement is October 31,2005.
42,
43. The date of the"Opening of Escrow"as referenced in the the Agreement is October 28,2005.
44.
45. The date referenced of the Agreement for Seller's delivery of the documents to Buyer being five(5)days after
46. the Acceptance Date is November 2,2005.
47.
49. Purchase price is TWO MILLION,SEVEN HUNDRED AND SIXTY THOUSAND DOLLARS($2,760,000.00).
49.
Ehsn-m/n/sank (page 1)
ESCROW INSTRUCTIONS (Continued)
TO: CHICAGO TITLE COMPANY Escrow No 5205OD42A-K42
Dais October 25,2005
t
2. Buyer's deposit shall be Invested by Escrow Holder In accordance with the provisions of the Agreement '
3. only upon Escrow Holder's receipt from Buyer of the executed investment instructions and completed and executed 7B
4. Farm W-9 rw
m 1
o N
a. The"Close of Escrow"as referenced In the Agreement shall be on or before NOVEMBER 7,2005. 2
a. SUBJECT TO AND CONTINGENT UPON;
0
m This escrow is to close concurrent with Sellers'Escrow#52050042,with Chicago Title Escrow Company. \
O p
11. B Pursuant to the provisions of Section 411 of the Agreement,Closing costs shall be allocated between Buyer
12 and Seller per their individual estimated closings statements which will be approved prior to the close of escrow. aNi
13. Seller and Buyer shall each pay$1,50o Do representing one-half of the Escrow Fee. "o all
14 15. In the event the real property taxes have not been segregated for subject property,Escrow Holder shall be �-
16 provided with specific instructions from Seller and Buyer as to the amount o be used for the proration of taxes as E
17 referenced in the Agreement Further,Escrow Holder shall be notified in writing by S3ller and Buyer of any other p
13 proratlons to be made through the closing of this escrow. - -
19.
20 Parties shall notify escrow holder,in writing,prior to close of escrow,if Parties elects to effect a tax deferred
21 exchange through this escrow In the event escrow holder does not receive written notification from Buyer or Seller, -
22 escrow holder will close this escrow without any provisions for an exchange for the benefit of either Buyer or Seller. -
23.
24 C. Buyer shall furnish Escrow Holder with a completed Preliminary Change of Ownership Report required by
25 Assembly bill 3121,State of California In the event said report Is not handed Escrow Holderfor submission to the
26 County Recorder upon recording the Grant Deed,Buyer herein acknowledges that the County shall access an
27. additional$20 00 feet for recording Grand Deed and Escrow Holder shall debt the Buyer for same.Escrow Holder
2e shall he relieved of all responsibility and or liability in connection with the accuracy,completeness or correctness
29.
30 Parties to this transaction are aware and understand that as a result of the passage of the Tax Reform Act of
31. 1986 which added Section 6o45(e)to the Internal Revenue Code,the closing of this transaction will be delayed In the
32. event Seller(s)to this escrow should refuse to remit to Escrow Agent/Holder,prior to close of escrow,"Seller's
Be. Certiflcadon for Compliance with Real Estate Reporting Requirements,"with all necessary information fully completed
34 and duly executed
35,
35 Escrow Holder shall not be concerned with,or liable for payment,adjustment or proration of,Supplemental
37 Taxes assessed pursuant to Chapter 498,Statutes of 1983,State of California,unless specifically reflected on the Tax
38. Assessor's rolls All assessments not shown on the tax rolls are to be adjusted outside of escrow.The tide policy will
39 contain an exception for the lien of any assessmentof Supplemental Taxes assessed pursuant to Chapter 498,
46. Statutes of 1933.
41
42 THIS ACCEPTANCE OF AN AGENCY AS ESCROW HOLDER IS FURTHER CONDITIONED ON THE FOLLOWING.
43
44 1. ESCROW HOLDER'S GENERAL PROVISIONS WHICH ARE INCORPORATED HEREIN BY THIS REFERENCE
45 AND ATTACHED HERETO;
46.
47. 2 ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE MUTUAL INSTRUCTIONS IN THE EVENT THIS
e nwn-�on<ie Sn
(Page 2)
ESCROW INSTRUCTIONS (Continued)
TO: CHICAGO TITLE COMPANY escrow No. 52050042A-K42
oete October 25.2005
1 ESCROW IS TERMINATED,AND UPON ANY SUCH TERMINATION TITLE AND/OR ESCROW CHARGES FOR
2 SERVICES RENDERED MAY BE DUE;
3
4 3. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE MUTUAL DISBURSEMENT INSTRUCTIONS IN THE
5 EVENT SUCH DISBURSEMENT IS TO BE MADE PURSUANT TO EARLY RELEASE PROVISIONS,THE
5, TERMINATION OF ESCROW OR A LIQUIDATED DAMAGE PROVISION CONTAINED IN SAID AGREEMENT,
9
3. 4. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE THE PARTIES TO DELIVER WRITTEN APPROVAL,
9 SATISFACTION OR WAIVER OF ALL CONDITIONS PRECEDENT TO(1)ANY RELEASE OF FUNDS AND/OR(2)
10 CLOSE OF THIS ESCROW,
11.
12 5. ANY PROVISIONS FOR RELEASE(PAYMENT)OF FUNDS PRIOR TO THE CLOSE OF ESCROW IS MADE WITH
13. THE KNOWLEDGE OF THE CONDITION(S)OF ESCROW AND TITLE TO THE PROPERTY THAT IS THE SUBJECT
14 OFTHISESCROW. ESCROW HOLDER SHALL HAVE NO RESPONSIBILITY OR LIABILITY EXCEPT COMPLIANCE
15 WITH ANY SUCH RELEASE(PAYMENT)INSTRUCTION AND ANY PAYMENT 50 MADE IS WITHOUT RECOURSE
15. UPON CHICAGO TITLE COMPANY;
17.
13 6. IF YOU WANT TO WIRE TRANSFER FUNDS TO CHICAGO TITLE COMPANY,PLEASE USE THE FOLLOWING
19 WIRING INSTRUCTIONS BANK UNION BANK
20 2001 MICHELSON DRIVE
21 IRVINE,CALIFORNIA 92714
22 SANKABA 122D004S6
23 ACCOUNT NAME; CHICAGO TITLE C&I ESCROW ACCOUNT
24 ACCOUNTNO: 9120052850
25 FOR CREDIT TO ESCROW NO 52060042A-1<42
26' ATTN: UNDASALCIDO
27 PLEASE NOTIFY ESCROW HOLDER WHEN YOU WIRE FUNDS.
28.
2e Parties,acknowledge that depending on the type(commercial,residental)and Location(city)of real property
so involved in this Escrow,there may he disclosure(s)as well as civil ordinance requiement(s)that would affect the
31 transfer of the real property.The Buyer and Sellers signature on these instructions shall be deemed evidence by
32 escrow holder that Buyer and Seller have obtained counsel,are aware of any disclosures/civil ordinance
33 requirements will comply with same outside of escrow Unless otherwise instructed in writing to the contrary
34 elsewhere herein,Escrow Holder shall have no responsibilities or liabilities in connnection herewith except as
35, provided under the designation agreement
35.
37 Buyer and Seller acknowledge that they have been advised to seek the counsel of their awn Attorney,
as. Accountant or other advisor and are relying solely on their inquiry and information.There are no Real Estate Agents in
39 connection with this escrow. Buyer and Seller agree that Escrow Holder is not to be held liable,responsible or
45 concerned with any such requirements or regulations,except as set forth in these instructions
41.
42 Escrow holder shall not he liable or responsible for the content or enforceability of anydocument(s)drawn outside of
43 escrow. Escrow holder's only responsibility in connection with said document(s)is to deliver and/or to record same
44 as per the parties instructions.
45
45. End of Instructions.
47.
anrosx-,a1,4lsbe.
(Page 3)
GENERAL PROVISIONS
TO: CHICAGO TITLE COMPANY Perin=Nn. 52050042A - X42
Data October 25, 2005
1 Time rs of the essence of these instructions.It Nis escrow is nor in a condition to close by the TIME LIMIT DATE as provided for herein and
written demand for cancellatlon is r...ie.d by you from any principal to this escrow other Bald base,you shell actin accordance with paragraph
of the General Provisions.If no conflicting Instruction or demand for cancellation is made,you will proceed to close this escrow when the
pllnB,,.IB have complied tvth the escrow Instructions In the event one or more of the General Provisions are held to be Invalid,these
remaining will continue to be operative.My amendments of or supplements to any Instructions affecting escrow must be In writing You are
authorized to order demands for,and pay at the close of esomw any encumbrances ei record necessary to place title in the conddron calletl
for tolhout further authorization.You are further authorized,prior to the close of escrow,to pay from funds on deposit any fees necessary In
obtain any demand and/or repot as may be required In this escrow and at the close of escrow charge the paNes as appropriate The
principals wil hand you any funds and Instruments required from each respectively to complete this escrow Interest on any new financing
may begin to accrue on the date loan funds/proceeds are disbursed by the new leader,and borowrer agrees 1.pay same in accordance all
lender's lnslruc0ons
2 You are indWcted to deliver and/or record all documents and disburse all funds when you can comply with these instructions and issue any
title insurance policy as Celled for herein.These insinuations,together with any amendments and/or supplements,may be executed in
counterparts and together shall constitute one and the same document.Ifthese instructions relate to a sale,and if there is he other written
agreement between the paNes pertaining thereto,buyer agrees to buy and seller agrees to sell upon the terms and conditions hereof.NI
document.,balances and statements due the undersigned are to be mailed to the respective addresses shown herein,unless otherwise
directed.In the event that any party to this escrow utilizes lace ncle transmitted signed documents,all panes hereby agree to accept and
hereby instruct the escrow holder 10 only upon such documents as If they bore original signatures.Puyer and seller further acknowledge that
any documents to he recorded bearing non original(facsimile)signatures will not he accepted for recording by the county recorder
3 The phrase'close ofescrow"(or COE)as used in this escrow means the dale on which documents are recorded,unless otherwise speoifed.
5 Assume a 3D day month in any proration herein provided,and unless otherwise Instructed,you are to use the information canlained in the
latest available lax statement,Including any supplemental taxes of record,rental statement as provided by seller and beneficiary's or
association statements delivered into escrow for proration purposes.
5 Upon close of escrow you are tstmowd to charge our caspectiva accounts the cols attnbulable beach,including but not limited to are as
provided for herein and/or In accordance with our respective estimated statements attached hereto and made a pan hereof
a Recordation of any Instruments delivered through this escrow,if necessary or proper for the Issuance of the policy of title Insurance called to,,
is authorized.No examination or insurance as 10 the amount or payment of personal property taxes is required unless specrinally requested
Y If demand to cancel is suhmihetl aher the Time Limit Data any principal Be requesting you to cancel this escrow shall file notice of demand Is
noel in your office in win,You shall within three(3)working days thereafter mall by b nned mail one copy of such notice to each of the
.,her principols at the address stated In Nls escrow Unless written objection thereto Is filed In your office by a principal within fifteen(15)
calendar days after IM1e data of such mshng,you are Instructed to cancel this escrow.If this is a sale east=,you may return the lentler'.
papers and/or funds upon lender's demand,
5. In the.,.at that this escrow Is canceletl,any fees or charges due Chicago Title Company Including cancellation fees and any accordance
incurred or authorized shall be paid from funds on deposit unless otherwise specifically agreed to of determined by a court of competent
jurisdlctlon.Upon payment thereof,return documents and monies to the respective panes depositing same,or as ordered by the each,and
wind any execuletl instruments
9. If there is no written activity by a principal to this escrow within any six month period after the Time their Date set forth herein,Chicago Title
Company may,at its option,terminate its agency obligation and cancel this escrow,returning all documents,monies or other Items held,to
the respective panes entitled thereto,less any fees and charges as provided herein
10 If,for any reason,funds are retained or remain in escrow after the closing date,you may deduct therefrom a reasonable charge as cuslodian,
of not less than$25 00 per month,unless otherwise specned
(Continued)
aeaarsn-tofaafea.a,
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY En.c.114o. 52050042A - K42
Data October 25, 2005
11. In the event that you should receive or become aware of conflicting demands or claims vath respect fo this escrow,or the rights of any of the
patties hereto,or any money or property deposited herein,you shall have the absolute right at your option to d econtinue any or all further acts
arml Such 01 resolved to your sut'Sp Don
12, In the event that any Cliff to Purchase,Deposal Receipt,or any an.,form of Purchase Agreement1s deposited in this escrow,you,as escrow
holder,are not to be concerned ,.in the terms of such document and are retleveE of all«epos lbdlty is connection therewith The foregomg Is
not applicable in any transaction In SJch Chicago Title has specifically agreed to accept an Offer to Purchase,Deposit Receipt or other form
of Purchase Agreement as escrow ihauh.tmns.In any event,you are not to be concerned or liable for items designated as"memoranda'In
these escrow Instructions nor with any other agreement or contract between the parties
13. The polies hereto,by execution of these Instructions acknowledge that the escrow holder assumes no responsibility or liability whatsoever for
the supervision of any act or the performance of any condition which as a conditlrn subsequent to the Closing of this escrow.
14 In the absence of lnsiruchons to the contrary,you are hereby a chaI to Mice wire services,overnight,next day,or When expd ind!
Survey services(as opposed to the regular U.S.Mall)and to charge the respective party's account accordingly.
15. Con-hrilng any real property revolved in this tharsotlon you are released from and shall have no liability,Obligation or responsibility with
respect to(a)withholding of funds pursuant to Section 1445 of the Internal Revenue Code of 1966 as amended,and to Sections 18662 and
16666 of the California Revenue and Taxation Code,(b)advising the Paribas as 10 the requirements of said Section 1445,(a)determining
Whether the transferor Is n foreign person or o non-resident under such Section,nor(d)obtaining a non foreign affidavit or other exemption
from withholding under said Sections nor otherwise making any Inquiry concerning compliance with such Sections by any parry to the
transaction.
16 If you pay a demand to pay in full a revolving line of credit or egmtyline loan,you are hereby refused on my behalf and for my benefit,to
request that the lender issuing said demand cancel said revolving line or eguityime of credit.
17 You are authorized to furnlsh to any affiliate of Chicago Title Company,any altomey,broker or lender Identified with this transaction or any
one acting on behalf of such lender any reformation,instructions,amendments,statements,or notices of cancellation given In connectlon with
this escrow H any check Submiaed to escrow Is dishonored when prasented for payment,you are aulhonzed fe notify all prinapais and/or
their respective agents of such non payment.
10 All nollces,change of lrebruchars,communications and documents are to be delivered in writing to the office of Chicago Title Company,as
.at faith herein.
19 of hindensawed is this escrow shall be deposited with other escrow funds In one or more non-bnlerest bearing demand accounts of Chicago
Title Company in any state or fetleraI bank or any state or federal savings and loan assomatlon("the Separately institutions")and may be
transferred to any other such accounts.
The partes to this escrow acknowledge that whlle these accounts do not bear interest,because of these antl other banking relationships with
the depository instilulons,Chicago Title Company and its offtllates may receive from some of the depository institutions an array,of banking
sarri motlatlons or other banefds Chicago Tile Company and its affiliates also may elect to enter into other business transactions
with or obtain loans for investment or other purposes from some of the depository,Institutions All of such services,accommodations and other
benefits shall accrue,diresty or indirectly,to Chicago TIOe Company and its affiliates and they shall have no obligation to account to the
parties to this escrow for the value of such services,accommodations or other bensfic.Al disbursements shall be made by Chicago Title
Company check,unless mherwlse menaced
Chicago Title Company shall not be responsible for any delay in closing If funds received by escrow the not available for immediate
vathdrati Chicago Tllle Company may,at Its option,require connuneni Instructions from all pnncipals prior to release of any funds on
deposit In this escrow.
26
You are auIDonzed to destroy or otherwise dispose of any and all documents,papers,instructions,correspondence and other material
pertalning to this escrow at the expiration of six(6)years from the close of escrow or cancellation thereof,without totally and without further
notice.
(Continued)
Rahat"anoraeteee.
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY E.row No. 5205DD42A - K42
Date October 25, 2005
IMPORTANT NOTICE
Except for wire transfers,funds remitted to this escrow are subject to availabllity requirements imposed by Section 12413,1 of the California
Insurance Code. CASHIER'S, CERTIFIED or TELLER'S checks, payable to CHICAGO TITLE COMPANY are generally available for
disbursement on the next business day following the date of deposit
Other Terms of payment may cause Worried delays m the closing Df your transaction pursuant to the requirements imposed by State Law,
Wire transfer information available upon request)
ALL PARTIES TO THIS ESCROW ACKNOWLEDGE THAT CHICAGO TITLE COMPANY DOES NOT PROVIDE
LEGAL ADVICE NOR HAS IT MADE ANY INVESTIGATION, REPRESENTATIONS OR ASSURANCES
WHATSOEVER REGARDING THE LEGAL ASPECTS OR COMPLIANCE OF THIS TRANSACTION WITH ANY
TAX,SECURITIES OR ANY OTHER STATE OR FEDERAL LAWS.IT IS RECOMMENDED THAT THE PARTIES
OBTAIN INDEPENDENT LEGAL COUNSEL AS TO SUCH MATTERS.
THE FOREGOING ESCROW INSTRUCTIONS AND GENERAL PROVISIONS HAVE BEEN READ AND ARE
UNDERSTOOD AND AGREED TOBY EACH OF THE UNDERSIGNED.
COMPLIFITY REDEVELOPMENT AGENCY PARTNERS LAND DEVELOPMENT, LLC, AN
OF THE CITY OF PALM SPRINGS, CALIFORNIA =,VISAS LIMITED LIABILITY CORPORATION
A P➢BLIC BODY, CORPORATE AND POLITIC
BY:
ITS;
BY:
CHAIRMAN
ATTEST: BY:
ITS:
BY
ASSISTANT SECRETARY
APPROVED AS TO FORM,
WOODRUFF, SPR.AILIN & SMART
BY:
DODGLAS C. HOLIPUD, AGENCY COUNSEL
Current Address: Current Address:
Telephone Telephone
eeacss. vice e
CHICAGO TITLE COMPANY SIGN AND RETURN
ESTIMATED SELLER'S SETTLEAMT STATEMENT
ESCROW 2A-001 ORDER
NUMBER: 05>40-5205004 PAGE. O1
NUF@ER: 05740-52050042A
CLOSING DATE 11/09 OS
/ CLOSER: LINDA SALCIDO
BUYER:
SELLER.
PROPERTY: vacant land APE 681-090-016, palm Springs, CALIFORNIA
Sales Price CHARGE SELLER CREDIT SELLER
FUNDS TRANSFER9D TO 5235042 00
Settlement or Closing Fee To CHICAGO TITLE 830,000.00
Document Preparation To CHICAGO TITLE 11500.00
Recording Fees 25,00
CitTax hold 2004/2005a2nd half taxes plus 528.00
P penalties 0,518.00
natural fiazards 10,]24 69
Funds Due To Seller At Closing 50.00
1,916,082.32
TOTALS
$ 2,760,000.00 $ 2,960,000.00
C
N
O
2 �
COMMUNITY REDEVELOPMENT AGENCY �
OF THE CITY OF PALM SPRINGS, CALIFORN IA 0
] C
A PUBLIC BODY, CORPORATE An POLITIC
O
pp y \
Bx: u'Y1 �v ID C
CHAIA14nN
P. TEST:
1 /r
UL ev. E `
ASSjSTANT 5� ECR— E NY�i':i'.'7 i+..T �. ::. fI',.�_ LL
j APP4C. HO
BF;
WOOLBY: CYTDOIIAGENCY COUNSEL
DATE: 11/02/05 17:08:3
CHICAGO TITLE COMPANY"
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax (760)772-8463
November 2,2005
.JOHN S. RAYMOND
COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS
3200 E.TAHQUITZ CANYON WAY
PALM SPRINGS, CA 92263
Ile:vacant land APN 681-070-016, Palm Springs, CALIFORNIA
Escrow No:52050042
Dear Mr. Raymond:
In connection with the above referenced escrow,we enclose the following items:
PLEASE SIGN AND RETURN (RETAIN ADDITIONAL COPY FOR YOUR FILES):
Escrow Instructions
Property Disclosure Report Approval-copy of report for your records
Preliminary Title Report Approval-copy for your records
Tax Withholding Notice (for your information, no signature required)
Estimated Closing Statement
If we can provide any additional information or answer any questions you may have, please give us a call.
Thank you for choosing Chicago Title Company.
Sincerely,
CHICCAA,GOO TITLE COMPANY
vvV
Linda Salcido
Escrow Officer
B2LTR--06/22/,%bk
ESCROW INSTRUCTIONS
SIGN AWL) RETURN
TO: CHICAGO TITLE COMPANY, licensed by the California Department of Insurance
0
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 52050042A-K42 Escrow Officer LINDA SALCIDO Date October 25, 2005
1 On or before the TIME LIMIT DATE of on or before November 7, 2005
2.
3. The undersigned hands you a"2005 Disposition and Development Agreement"dated October 25,2005, hereinafter
4. the"Agreement", executed by"The Community Redevelopment Agency of the City of Palm Springs, as Seller and
5. "Partners Land Development, LLC, an Arkansas limited liability Corporation", as Buyer
6.
7. You are authorized to act in accordance with these instructions,and any amendments thereto.You are not to be
8. concerned with or liable for, any memoranda or other agreements between the parties as contained in the attached
9. document, except those relating to the transfer of title, prior to the close of escrow.the parties to this transaction wil
10. cause any balance of funds due and or documents required to be deposited with you.
11.
12. THE FOLLOWING ADDITIONAL TERMS AND CONDITIONS SHALL APPLY IN THIS ESCROW:
13.
14. The following supplemental escrow instructions,are added for clarification purposes and for the purposes of enabling
15. Chicago Title Company as Escrow Holder to utilize said agreement as your escrow instructions. In the event of a
18. conflict between the agreement and the escrow holder's general provisions the terms of the agreement shall control.
17,
1s. THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS hands you a Grant Deed
19. conveying the property described herein to vestee named below;
20.
21. "PARTNERS LAND DEVELOPMENT, LLC,AN ARKANSAS LIMITED LIABILITY CORPORATION"buyer(s) herein;
22.
23. which you are instructed to use when you can obtain a CLTA OWNERS POLICY and any policy required by buyer's
24. lender,(IF ANY)which policies of title insurance will contain the insuring clauses, exceptions, exclusions, provisions
25. and stipulations customarily contained in the printed provisions of such form with liability not less than$2,760,000.00
26. describing the land in the City of Palm Springs County of RIVERSIDE State of California, described as:
27.
28. APN 681-808-016, marked as parcel EXHIBIT A,which is attached hereto and incorporated herein by reference,
29. COVERING approximately 8.78 acres per survey,vacant land in Palm Springs, California.
30.
31. Subject to: 1. Real Property General and special taxes for fiscal year 2005/2006, and subsequent years, including
32. reassessments if any and including any special district levies or personal property taxes, payment for which are
33. inc0uded therein and collected therewith and improvement bond assessments,when applicable.
34.
35• 2. The Lien of Supplemental Taxes, if any, assessed pursuant to the provisions of Chapter 3.5 (commencing with
36. Section 75) of the Revenue and Taxation Code of the State of California.
37.
38. 3. Covenants, conditions, restrictions, rights of way, easements and reservations of record.
39. ADDITIONAL INSTRUCTIONS:
40.
41, A. The"Effective Date"as referenced in the Agreement is October 31, 2005.
42.
43. The date of the"Opening of Escrow"as referenced in the the Agreement is October 28,2005.
44.
45. The date referenced of the Agreement for Seller's delivery of the documents to Buyer being five (5) days after
46. the!Acceptance Date is November 2,2005.
47.
48. Purchase price is TWO MILLION, SEVEN HUNDRED AND SIXTY THOUSAND DOLLARS ($2,760,000.00).
49.
DISH -10/11/gsbk (Page 1)
ESCROW INSTRUCTIONS (Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A-K42
Date October 25,2005
7.
2. Buyer's deposit shall be invested by Escrow Holder in accordance with the provisions of the Agreement
3. only upon Escrow Holder's receipt from Buyer of the executed investment instructions and completed and executed
4. Form W-9.
5.
6• The"Close of Escrow"as referenced in the Agreement shall be on or before NOVEMBER 7, 2005.
7.
8• SUBJECT TO AND CONTINGENT UPON;
9. This escrow is to close concurrent with Sellers'Escrow#52050042,with Chicago Title Escrow Company.
10.
11. B. Pursuant to the provisions of Section 411 of the Agreement, Closing costs shall be allocated between Buyer
12. and Seller per their individual estimated closings statements which will be approved prior to the close of escrow.
13. Seller and Buyer shall each pay$1,500.00 representing one-half of the Escrow Fee.
14.
15. In the event the real property taxes have not been segregated for subject property, Escrow Holder shall be
16 provided with specific instructions from Seller and Buyer as to the amount to be used for the proration of taxes as
17. referenced in the Agreement. Further, Escrow Holder shall be notified in writing by Seller and Buyer of any other
18, prorations to be made through the closing of this escrow.
19.
20. Parties shall notify escrow holder, in writing, prior to close of escrow, if Parties elects to effect a tax deferred
21. exchange through this escrow. In the event escrow holder does not receive written notification from Buyer or Seller,
22. escrow holder will close this escrow without any provisions for an exchange for the benefit of either Buyer or Seller.
23.
24. C. Buyer shall furnish Escrow Holder with a completed Preliminary Change of Ownership Report required by
25. Assembly bill 3121, State of California. In the event said report is not handed Escrow Holder for submission to the
26, County Recorder upon recording the Grant Deed, Buyer herein acknowledges that the County shall access an
27. additional$20.00 feet for recording Grand Deed and Escrow Holder shall debit the Buyer for same. Escrow Holder
28. shall be relieved of all responsibility and or liability in connection with the accuracy, completeness or correctness
29.
30. Parties to this transaction are aware and understand that as a result of the passage of the Tax Reform Act of
31. 1986 which added Section 6045(e)to the Internal Revenue Code,the closing of this transaction will be delayed in the
32. event Seller(s)to this escrow should refuse to remit to Escrow Agent/Holder, prior to close of escrow, "Seller's
33, Certification for Compliance with Real Estate Reporting Requirements,"with all necessary information fully completed
34. and duly executed.
35.
36. Escrow Holder shall not be concerned with, or liable for payment, adjustment or proration of, Supplemental
37. Taxes assessed pursuant to Chapter 498, Statutes of 1983, State of California, unless specifically reflected on the Tax
38. Assessor's rolls. All assessments not shown on the tax rolls are to be adjusted outside of escrow.The title policy will
39. contain an exception for the lien of any assessmentof Supplemental Taxes assessed pursuant to Chapter 498,
40. Statutes of 1983.
41.
42. THOS ACCEPTANCE OF AN AGENCY AS ESCROW HOLDER IS FURTHER CONDITIONED ON THE FOLLOWING:
43.
44. 1. (ESCROW HOLDER'S GENERAL PROVISIONS WHICH ARE INCORPORATED HEREIN BY THIS REFERENCE
45. AND ATTACHED HERETO;
46.
47. 2. 'ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE MUTUAL INSTRUCTIONS IN THE EVENT THIS
13EIl CSH--10/14/96bk
(Page 2)
ESCROW INSTRUCTIONS (Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A-K42
Date October 25, 2005
1. ESCROW IS TERMINATED,AND UPON ANY SUCH TERMINATION TITLE AND/OR ESCROW CHARGES FOR
2. SERVICES RENDERED MAY BE DUE;
3.
4. 3. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE MUTUAL DISBURSEMENT INSTRUCTIONS IN THE
5• EVENT SUCH DISBURSEMENT IS TO BE MADE PURSUANT TO EARLY RELEASE PROVISIONS,THE
6. TERMINATION OF ESCROW OR A LIQUIDATED DAMAGE PROVISION CONTAINED IN SAID AGREEMENT;
7.
8• 4. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE THE PARTIES TO DELIVER WRITTEN APPROVAL,
9. SATISFACTION OR WAIVER OF ALL CONDITIONS PRECEDENT TO (1)ANY RELEASE OF FUNDS AND/OR (2)
10. CLOSE OF THIS ESCROW;
11.
12. 5. ANY PROVISIONS FOR RELEASE (PAYMENT) OF FUNDS PRIOR TO THE CLOSE OF ESCROW IS MADE WITH
13. THE:KNOWLEDGE OF THE CONDITION(S) OF ESCROW AND TITLE TO THE PROPERTY THAT IS THE SUBJECT
14. OF THIS ESCROW. ESCROW HOLDER SHALL HAVE NO RESPONSIBILITY OR LIABILITY EXCEPT COMPLIANCE
15. WITH ANY SUCH RELEASE (PAYMENT) INSTRUCTION AND ANY PAYMENT SO MADE IS WITHOUT RECOURSE
16. UPON CHICAGO TITLE COMPANY;
17.
1e. 6. IF YOU WANT TO WIRE TRANSFER FUNDS TO CHICAGO TITLE COMPANY, PLEASE USE THE FOLLOWING
19. WIRING INSTRUCTIONS: BANK: UNION BANK
20• 2001 MICHELSON DRIVE
21. IRVINE, CALIFORNIA 92714
22. BANK ABA: 122 000 496
23. ACCOUNT NAME: CHICAGO TITLE C&I ESCROW ACCOUNT
24. ACCOUNT NO: 9120052850
25. FOR CREDIT TO: ESCROW NO.52050042A-K42
26. ATTN: LINDA SALCIDO
27. PLEASE NOTIFY ESCROW HOLDER WHEN YOU WIRE FUNDS.
28.
29, Parties acknowledge that depending on the type(commercial, residental) and Location (city) of real property
30. involved in this Escrow,there may be disclosure(s) as well as civil ordinance requiement(s)that would affect the
31. transfer of the real property.The Buyer and Sellers signature on these instructions shall be deemed evidence by
32. escrow holder that Buyer and Seller have obtained counsel, are aware of any disclosures/civil ordinance
33. requirements will comply with same outside of escrow. Unless otherwise instructed in writing to the contrary
34. elsewhere herein, Escrow Holder shall have no responsibilities or liabilities in connnection herewith except as
35. provided under the designation agreement.
36.
37. Buyer and Seller acknowledge that they have been advised to seek the counsel of their own Attorney,
33. Accountant or other advisor and are relying solely on their inquiry and information.There are no Real Estate Agents in
39. connection with this escrow. Buyer and Seller agree that Escrow Holder is not to be held liable, responsible or
40. concerned with any such requirements or regulations, except as set forth in these instructions.
41.
42. Escrow holder shall not be liable or responsible for the content or enforceability of any document(s) drawn outside of
43. escrow. Escrow holder's only responsibility in connection with said document(s) is to deliver and/or to record same
44. as per the parties instructions.
45.
46. End of Instructions.
47.
BEIICSH-10/14/96bk
(Page 3)
GENERAL PROVISIONS
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A - K42
Date October 25, 2005
1. Time is of the essence of these instructions. If this escrow is not in a condition to close by the TIME LIMIT DATE as provided for herein and
written demand for cancellation is received by you from any principal to this escrow after said date,you shall act in accordance with paragraph
7 of the General Provisions. If no conflicting instruction or demand for cancellation is made,you will proceed to close this escrow when the
principals have complied with the escrow instructions. In the event one or more of the General Provisions are held to be invalid, those
remaining will continue to be operative.Any amendments of or supplements to any instructions affecting escrow must be in writing.You are
authorized to order demands for, and pay at the close of escrow any encumbrances of record necessary to place title in the condition called
for without further authorization.You are further authorized, prior to the close of escrow,to pay from funds on deposit any fees necessary to
obtain any demand and/or report as may be required in this escrow and at the close of escrow charge the parties as appropriate. The
principals will hand you any funds and instruments required from each respectively to complete this escrow. Interest on any new financing
may begin to accrue on the date loan funds/proceeds are disbursed by the new lender,and borrower agrees to pay same in accordance with
lender's instructions.
2. You are instructed to deliver and/or record all documents and disburse all funds when you can comply with these instructions and issue any
title insurance policy as called for herein. These instructions, together with any amendments and/or supplements, may be executed in
counterparts and together shall constitute one and the same document. If these instructions relate to a sale,and if there is no other written
agreement between the parties pertaining thereto, buyer agrees to buy and seller agrees to sell upon the terms and conditions hereof. All
documents, balances and statements due the undersigned are to be mailed to the respective addresses shown herein, unless otherwise
directed, In the event that any party to this escrow utilizes facsimile transmitted signed documents, all parties hereby agree to accept and
hereby instruct the escrow holder to rely upon such documents as if they bore original signatures. Buyer and seller further acknowledge that
any documents to be recorded bearing non original (facsimile)signatures will not be accepted for recording by the county recorder.
3. The phrase"close of escrow"(or COE)as used in this escrow means the date on which documents are recorded,unless otherwise specified.
4. Assume a 30 day month in any proration herein provided, and unless otherwise instructed, you are to use the information contained in the
latest available tax statement, including any supplemental taxes of record, rental statement as provided by seller and beneficiary's or
association statements delivered into escrow for proration purposes.
S. Upon close of escrow you are instructed to charge our respective accounts the costs attributable to each,including but not limited to costs as
provided for herein and/or in accordance with our respective estimated statements attached hereto and made a part hereof.
6. Recordation of any instruments delivered through this escrow,if necessary or proper for the issuance of the policy of title insurance called for,
is.authorized.No examination or insurance as to the amount or payment of personal property taxes is required unless specifically requested.
7. If demand to cancel is submitted after the Time Limit Date,any principal so requesting you to cancel this escrow shall file notice of demand to
cancel in your office in writing.You shall within three (3)working days thereafter mail by certified mail one copy of such notice to each of the
other principals at the address stated in this escrow. Unless written objection thereto is filed in your office by a principal within fifteen (15)
calendar days after the date of such mailing, you are instructed to cancel this escrow. If this is a sale escrow, you may return the lender's
papers and/or funds upon lender's demand.
8. In the event that this escrow is canceled,any fees or charges due Chicago Title Company including cancellation fees and any expenditures
Incurred or authorized shall be paid from funds on deposit unless otherwise specifically agreed to or determined by a court of competent
jurisdiction. Upon payment thereof, return documents and monies to the respective parties depositing same,or as ordered by the court,and
void any executed instruments.
9. If there is no written activity by a principal to this escrow within any six-month period after the Time Limit Date set forth herein,Chicago Title
Company may, at its option,terminate its agency obligation and cancel this escrow, returning all documents, monies or other items held,to
the respective parties entitled thereto,less any fees and charges as provided herein.
to. If,for any reason,funds are retained or remain in escrow after the closing date,you may deduct therefrom a reasonable charge as custodian,
of not less than$25.00 per month,unless otherwise specified.
(Continued)
BEIGN SH-10/23/99-Im
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A - K42
Date October 25, 2005
11. In the event that you should receive or become aware of conflicting demands or claims with respect to this escrow,or the rights of any of the
parties hereto,or any money or property deposited herein,you shall have the absolute right at your option to discontinue any or all further acts
until such conflict is resolved to your satisfaction.
12. In the event that any Offer to Purchase,Deposit Receipt,or any other form of Purchase Agreement is deposited in this escrow,you,as escrow
holder,are not to be concerned with the terms of such document and are relieved of all responsibility in connection therewith.The foregoing is
not applicable in any transaction in which Chicago Title has specifically agreed to accept an Offer to Purchase,Deposit Receipt or other form
of Purchase Agreement as escrow instructions. In any event,you are not to be concerned or liable for items designated as"memoranda"in
these escrow instructions nor with any other agreement or contract between the parties.
13. The parties hereto,by execution of these instructions acknowledge that the escrow holder assumes no responsibility or liability whatsoever for
the supervision of any act or the performance of any condition which is a condition subsequent to the closing of this escrow.
14. In the absence of instructions to the contrary, you are hereby authorized to utilize wire services, overnight, next day, or other expedited
deflvery services(as opposed to the regular U.S.Mail)and to charge the respective parry's account accordingly.
15. Concerning any real property involved in this transaction you are released from and shall have no liability, obligation or responsibility with
respect to (a)withholding of funds pursuant to Section 1445 of the Internal Revenue Code of 1986 as amended, and to Sections 18662 and
16568 of the California Revenue and Taxation Code, (b) advising the parties as to the requirements of said Section 1445, (c) determining
whether the transferor is a foreign person or a non-resident under such Section, nor (d) obtaining a non foreign affidavit or other exemption
from withholding under said Sections nor otherwise making any inquiry concerning compliance with such Sections by any party to the
transaction.
16. If you pay a demand to pay in full a revolving line of credit or equityline loan,you are hereby instructed on my behalf and for my benefit,to
request that the lender issuing said demand cancel said revolving line or equityline of credit.
17. You are authorized to furnish to any affiliate of Chicago Title Company, any attorney, broker or lender identified with this transaction or any
one acting on behalf of such lender any information,instructions,amendments,statements,or notices of cancellation given in connection with
this escrow. If any check submitted to escrow is dishonored when presented for payment,you are authorized to notify all principals and/or
their respective agents of such non payment.
18. All notices,change of instructions,communications and documents are to be delivered in writing to the office of Chicago Title Company,as
set forth herein.
19. A@ funds received in this escrow shall be deposited with other escrow funds in one or more non-interest bearing demand accounts of Chicago
Title Company in any state or federal bank or any state or federal savings and loan association ("the depository institutions") and may be
transferred to any other such accounts.
The parties to this escrow acknowledge that while these accounts do not bear interest,because of these and other banking relationships with
the depository institutions, Chicago Title Company and its affiliates may receive from some of the depository institutions an array of banking
services,accommodations or other benefits.Chicago Title Company and its affiliates also may elect to enter into other business transactions
with or obtain loans for investment or other purposes from some of the depository institutions.All of such services,accommodations and other
benefits shall accrue, directly or indirectly, to Chicago Title Company and its affiliates and they shall have no obligation to account to the
parties to this escrow for the value of such services, accommodations or other benefits. All disbursements shall be made by Chicago Title
Company check,unless otherwise instructed.
Chicago Title Company shall not be responsible for any delay in closing if funds received by escrow are not available for immediate
withdrawal. Chicago Title Company may, at its option, require concurrent instructions from all principals prior to release of any funds on
deposit in this escrow.
20.
You are authorized to destroy or otherwise dispose of any and all documents, papers, instructions, correspondence and other material
pertaining to this escrow at the expiration of six (6)years from the close of escrow or cancellation thereof,without liability and without further
notice.
(Continued)
61JGMH-10/23/98-Irc
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A - K42
Date October 25, 2005
IMPORTANT NOTICE
Except for wire transfers,funds remitted to this escrow are subject to availability requirements imposed by Section 12413.1 of the California
Insurance Code. CASHIER'S, CERTIFIED or TELLER'S checks, payable to CHICAGO TITLE COMPANY are generally available for
disbursement on the next business day following the date of deposit.
Other forms of payment may cause extended delays in the closing of your transaction pursuant to the requirements imposed by State Law.
(Wire transfer information available upon request)
ALL PARTIES TO THIS ESCROW ACKNOWLEDGE THAT CHICAGO TITLE COMPANY DOES NOT PROVIDE
LEGAL ADVICE NOR HAS IT MADE ANY INVESTIGATION, REPRESENTATIONS OR ASSURANCES
WHATSOEVER REGARDING THE LEGAL ASPECTS OR COMPLIANCE OF THIS TRANSACTION WITH ANY
TAX, SECURITIES OR ANY OTHER STATE OR FEDERAL. LAWS. IT IS RECOMMENDED THAT THE PARTIES
O13TAIN INDEPENDENT LEGAL COUNSEL AS TO SUCH MATTERS.
THE FOREGOING ESCROW INSTRUCTIONS AND GENERAL PROVISIONS HAVE BEEN READ AND ARE
U14DERSTOOD AND AGREED TO BY EACH OF THE UNDERSIGNED.
COMMUNITY REDEVELOPMENT AGENCY PARTNERS LAND DEVELOPMENT, LLC, AN
OF THE CITY OF PALM SPRINGS, CALIFORNIA ARKANSAS LIMITED LIABILITY CORPORATION
A PUBLIC BODY, CORPORATE AND POLITIC
BY:
ITS;
By(�
CHAIRMAN
ATTFiS-T--, BY:
1 . I ITS:
ASZ/ STANT SECRETARY f 11 I QQ
/APPROVED AS FORM; w,"�a'a \ ��,,? tv
WOODRUFF S LIN/& S T
BY: / [/D
DOUGLAS C. LLAND, AGENCY COUNSEL
Current Address: Current Address:
Telephone: Telephone:
BEM SH-10/23/9a-Irc
Make check payable to: QK A 16' H ET H Rv o i c e#: 110105-00354
Escrow Number: APN 681 070 016
Customer Number: s 1
DISCLOSURE SOURCE' Account Number:
A II VFt1IY MA]IPNAI F AIFCIAt CPM,ANY
P.O. BOX 7134 N Invoice Date: 02-Nov-05
SAN FRANCISCO, CA 94120-7134
_ Invoice Amount: $49.95
Bonnie Bernard
Bill To: Chicago Title To ensure proper credit, detach and return
78-000 Fred Waring Drive, Ste. 103 this portion with yourpayment and please
Palm Desert, CA 92211 include the invoice number on your check
Phone: (760) 345-0750
Fax: (760) 772-8463
-- - ---------------- ----------------------- - ----------------Cut Here---- - - -------------------------
INVOICE Invoice#:110105-0 03 54
DISCLOSURE SOURCE'
A
..11A1 C�MIA YY P�O� BOX 7134 N Invoice Date:0 2-Nov-o s
SAN FRANCISCO, CA 94120-7134 Customer Number.541050591
Fax: (800) 287-8673
• Order
Bonnie Bernard Bonnie Bernard Property Address:
Chicago Title VACANT
78-000 Fred Waring Drive, Chicago Title PALM SPRINGS, CA 92264
Palm Desert, CA 92211 78-000 Fred Waring Drive, 681-070-016
Phone: (760) 345-0750 Palm Desert, CA 92211
Fax: (760) 772-8463 Phone: (760) 345-0750
Fax: (760) 772-8463
! D�e
1 Commercial Report Standard $59.95 $59. 55
1 Miscellaneous Discount ($10.00) ($10.00)
Invoice Total: 1 $49.95
Escrow Instructions: Upon close of escrow,please send a Listing Agent Instructions:This DisclosureSource Report
check, payable to DisclosureSource to address above. If the needs to be disclosed by the seller to the buyer of the residence
escrow documents are being transferred to a new escrow, for which the report has been prepared.As the Responsible
please notify DisclosureSource customer service at 800- Agent for this transaction should the escrow we were
880-9123 to update changes and transfer this invoice along instructed to bill not close, please forward this invoice to
with the DisclosureSource Report to the new escrow. If this the next escrow,and inform DisclosureSource of the new
escrow fails to close, lease notify the DisclosureSource pertinent data. DisclosureSource will provide the new escrow
p y with an updated invoice and a copy of the report.
accounting dept. at 800-833-6347 ext 181
- ,DISCLOSURE SOURCE"
A FIDELITY NATIONAL LINANCIAL COIiIYANY
Natural Hazard Reference Map
Mandatory State Disclosures
z LL w O ALONDRA AY < SP,
< y A EL GAUCHO R
s �
a A
h PO A
ORONGO TRL
w Z
DEW GO CIR
y
TIT L
L a ? 5\% Q- h z EL\ FKESIDE DR
C � NTA ANA ST AD R Y
o \ \ 2 w O
�0 Y SAN A EM NOJ,E, C
RL
4 D L -CDR"
00
0
r � P
O O
x �
X\ o a
~ 0 .2 .4
Miles
VACANT PALM SPRINGS, CA 92264 Map Legend
® FEMA Flood Zones
IS ❑ IS NOT [Q located in a FEMA Special Flood Hazard Area. 0 Dam Inundation"nom!Zones
! ; Very High Fire Hazard Area
IS ❑ IS NOT 2 located in a Dam Inundation Area. :. Midland Fire Area
Earthquake Fault Zones
IS ❑ IS NOT Q located in a Very High Fire Hazard Area. seismic Hazard Zones
IS El IS NOT Q located in a Wildland Fire Area. City Re Re i Wa[er antl Rivers
City gions
IS ❑ IS NOT [Q located in an Alquist-Priolo Earthquake Fault Zone.
02-Nov-OS
*IS ❑ IS NOT ❑ located in a Seismic Hazard Zone. APN:681-070-016
ERN:110105-00354
'F Please read the report This map is for your aid in locating natural hazard areas in relation to the subject property.
for further information It is intended for informational purposes only The company assumes no liability(express or
implied)for any loss occurring by reference,misinterpretation,misuse,or sole reliance thereon
This map is not intended for use as a substitute disclosure under California Civil Code 01103.2
Copyright(9b02 DisclosureSource(R), Inc. 2950 Buskirk Avenue, Suite 310, Walnut Creek, CA 94597 (800) 880-9123
DISCLOSURE SOURCE
A FIDELITY NATIONAL FINANCIAL COMPANY
Natural Hazard Reference Map
Expanded Disclosures
w < m
m O ALONDRA AY S
z m E VERY DR s R PAS
J K M <o EL GAUCHO R
A q
E E O DR p
i.Q w m m
UNNA EO Y m
w cr {m OAF w s a o
< 0
w is m 'A o
ORONGO TRL �5�� x w �� A
m p 9L
O JO TRL > A w
2
_ OSW GO CIR
m O
y m m
T L o �10 2 ''-
T L y ? g E KESIDE DR
NTA ANAS T HER
SAN A O EM NOLE
RL / o
v " C A I L ST in
D LP DR q --
9
`YO Y� PT
m 9
I F o "G w
c9 A
I � �
rc
� n
0 p
0
0 .2 .4
VACANT PALM SPRINGS, CA 92264 Map Legend
® Flood Hazard Zane.
IS ❑ IS NOT 2 located in a City/County Flood Hazard Area. �r�--- High Fire H..rd Area
�ffJ Fault Zones
IS ❑ IS NOT 2 in a City/County High Fire Hazard Zone. ""' S=i.nic Hazy tlZnne.
Bodies of Water and Rivers
IS ❑ IS NOT Q in an Expanded Fault Special Studies Zone. City Region.
IS ❑ IS NOT Q in an Expanded Seismic/Geologic Hazard Area.
02-Nov-05
APN:681-070-016
ERN:110105-00354
This map is for your aid in locating natural hazard areas in relation to the subject property.
It is intended for informational purposes only.The company assumes no liability(express or
implied)for any loss occurring by reference,misinterpretation,misuse,or sole reliance thereon
This map is not intended for use as a substitute disclosure under California Civil Code 0 1103.2
Copyright 9UO2 DisclosureSource(R), Inc. 2950 Buskirk Avenue, Suite 310, Walnut Creek, CA 94597 (800) 880-9123
NATURAL HAZARD DISCLOSURE STATEMENT
Escrow No: APN 681 070 016
This statement applies to the following property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
The transferor and his or her agent(s)or a third—party consultant disclose the following information with the knowledge that
even though this is not a warranty, prospective transferees may rely on this information in deciding whether and on what
terms to purchase the subject property. Transferor hereby authorizes any agent(s)representing any principal(s) in this action
to provide a copy of this statement to any person or entity in connection with any actual or anticipated sale of the property.
The following are representations made by the transferor and his or her agent(s) based on their knowledge and maps drawn
by the state and federal governments. This information is a disclosure and is not intended to be part of any contract between
the transferee and transferor.
THIS REAL PROPERTY LIES WITHIN THE FOLLOWING HAZARDOUS AREA(S):
A SPECIAL FLOOD HAZARD AREA (Any type Zone "A" or "V") designated by the Federal Emergency Management
Agency.
Yes No� Do not know/information not available from local jurisdiction
AN AREA OF POTENTIAL FLOODING shown on a dam failure inundation map pursuant to Section 8589.5 of the
Government Code.
Yes No�_ Do not know/information not available from local jurisdiction
A VERY HIGH FIRE HAZARD SEVERITY ZONE pursuant to Section 51178 or 51179 of the Government Code. The
owner of this property is subject to the maintenance requirements of Section 51182 of the Government Code.
Yes No VL
A WILDLAND AREA THAT MAY CONTAIN SUBSTANTIAL FOREST FIRE RISKS AND HAZARDS pursuant to
Section 4125 of the Public Resources Code.The owner of this property is subject to the maintenance requirements of Section
4291 of the Public Resources Code. Additionally, it is not the state's responsibility to provide fire protection services to any
building or structure located within the wild-lands unless the Department of Forestry and Fire Protection has entered into a
cooperative agreement with a local agency for those purposes pursuant to Section 4142 of the Public Resources Code.
Yes No_ V(
AN EARTHQUAKE FAULT ZONE pursuant to Section 2622 of the Public Resources Code.
Yes No
A SEISMIC HAZARD ZONE pursuant to Section 2696 of the Public Resources Code.
Yes(Landslide Zone) Yes(Liquefaction Zone)
No Map not yet released by state_V
THESE HAZARDS MAY LIMIT YOUR ABILITY TO DEVELOP THE REAL PROPERTY,TO OBTAIN INSURANCE,
OR TO RECEIVE ASSISTANCE AFTER A DISASTER.
THE MAPS ON WHICH THESE DISCLOSURES ARE BASED ESTIMATE WHERE NATURAL HAZARDS EXIST.
THEY ARE NOT DEFINITIVE INDICATORS OF WHETHER OR NOT A PROPERTY WILL BE AFFECTED BY A
NATURAL DISASTER.TRANSFEREE(S)AND TRANSFEROR(S)MAY WISH TO OBTAIN PROFESSIONAL
ADVICE REGARDING THOSE HAZARDS AND OTHER HAZARDS THAT MAY AFFECT THE PROPERTY.
Signature of Transferor(s) Date
Signature of Transferor(s) Date
Agent(s) Date
Agent(s) Date
Check only one of the following:
Transferor(s)and their agent(s)represent that the information herein is true and correct to the best of their
knowledge as of the date signed by the transferor(s)and agent(s).
✓ Transferor(s)and their agent(s)acknowledge that they have exercised good faith in the selection of a third—party
report provider as required in Civil Code Section 1103.7,and that the representations made in this Natural Hazard Disclosure
Statement are based upon information provided by the independent third—party disclosure provider as a substituted disclosure
pursuant to Civil Code Section 1103.4.Neither transferor(s)nor their agent(s)(1)has independently verified the information
contained in this statement and report or(2)is personally aware of any errors or inaccuracies in the information contained on
the statement.This statement was prepared by the provider below:
Third-Party
DISCLOSURE SOURCE` Date 11/2/2005 DisclosureProvider(s) 1�..„ Al 1-1-1
Transferee represents that he or she has read and understands this document.Pursuant to Civil Code Section 1103.8,the
representations made in this Natural Hazard Disclosure Statement do not constitute all of the transferor's or agent's
disclosure obligations in this transaction.
Signature of Transferee(s) Date
Signature of Transferee(s) Date
ACKNOWLEDGEMENT FOR RECEIPT OF ADDITIONAL DISCLOSURES
a
Escrow No: APN 681 070 016 y
This acknowledgement applies to the following property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016 0
n
TOXIC MOLD:
THE TRANSFEROR AND HIS OR HER AGENT(S)HAVE PROVIDED THE PROSPECTIVE TRANSFEREES INFORMATION ABOUT TOXIC MOLD(Pursuant to Califouia R
Civil Code§1102 6) a
x
}
COMMERCIAL/INDUSTRIAL ZONING: c
THE TRANSFEROR AND HIS OR HER AGENT(S) HAVE PROVIDED INFORMATION REQUIRED TO ADVISE THE PROSPECTIVE TRANSFEREE(S) IF THE
PROPERTY IS AFFECTED BY OR ZONED TO ALLOW AN INDUSTRIAL USE DESCRIBED IN SECTION 73IA OF THE Code OF Civil Procedure(CALIFORNIA CIVIL ►
CODE§1102.17). a
n
MILITARY ORDNANCE: p
THE TRANSFEROR AND HIS OR HER AGENT(S) HAVE PROVIDED INFORMATION REQUIRED TO ADVISE THE PROSPECTIVE TRANSFEREES) OF THE 0
PROPERTY'S PROXIMITY TO ANY FORMERLY USED FEDERAL OR STATE MILITARY ORDNANCE LOCATION (PURSUANT TO CALIFORNIA CIVIL CODE § }
1102.15). 'I
C
}
MEGAN'S LAW:
9
THE TRANSFEROR AND HIS OR HER AGENT(S) HAVE PROVIDED INFORMATION-REQUIRED TO ADVISE THE PROSPECTIVE TRANSFEREES OF THE }
PROCESSES AVAILABLE FOR THE PUBLIC TO OBTAIN INFORMATION-REGARDING PERSONS WHO ARE REQUIRED TO REGISTER WITH THE DEPARTMENT
OF JUSTICE RESULTING FROM A CONVICTION FOR ASEXUALLY BASED OFFENSE (PURSUANT TO CALIFORNIA PENAL CODE SECTION 2904 ET SEQ). r
a
AIRPORT INFLUENCE: z
THE TRANSFEROR AND HIS OR HER AGENT(S) HAVE PROVIDED INFORMATION REQUIRED TO ADVISE THE PROSPECTIVE TRANSFEREE(S) IF THE C
PROPERTY IS AFFECTED BY AN AIRPORT INFLUENCE AREA(PURSUANT TO CALIFORNIA CIVIL CODE§1103 4).
AIRPORT PROXIMITY:
1
THE TRANSFEROR AND HIS OR HER AGENTS) HAVE PROVIDED INFORMATION REQUIRED TO ADVISE THE PROSPECTIVE TRANSFEREE(S) OF THE A
PROPERTY'S PROXIMITY TO ANY AREA WITH AIRCRAFT LANDING FACILITIES,(A SPECIFIED INDUSTRIAL USE)THAT IS ASSIGNED A CURRENT LOCATION
IDENTIFIER BY THE FEDERAL AVIATION ADMINISTRATION (PURSUANT TO CALIFORNIA CIVIL CODE§1102 17) !�
a
x
NATURALLY OCCURRING ASBESTOS. y
THE TRANSFEROR AND HIS OR HER AGENT(S)HAVE PROVIDED INFORMATION TO ADVISE THE PROSPECTIVE TRANSFEREES IF THE PROPERTY IS }
LOCATED IN A POSSIBLE NATURALLY OCCURRING ASBESTOS AREA ACCORDING TO MAPS FROM THE CALIFORNIA DEPARTMENT OF CONSERVATION, A
DIVISION OF MINES AND GEOLOGY
a
RED-LEGGED FROG AND CALIFORNIA TIGER SALAMANDER HABITAT SENSITIVITY AREA
THE TRANSFEROR AND HIS OR HER AGENT(S)HAVE PROVIDED INFORMATION TO ADVISE THE PROSPECTIVE TRANSFEREES IF THE PROPERTY IS I!
LOCATED IN A RED-LEGGED FROG AND CALIFORNIA TIGER SALAMANDER HABITAT SENSITIVITY AREA ACCORDING TO MAPS FROM THE CALIFORNIA a
i
NATURAL DIVERSITY DATABASE OF THE CALIFORNIA DEFT.OF FISH AND GAME,AND CRITICAL HABITAT COVERAGE MAPS FROM THE U S FISH AND -}I
WILDLIFE SERVICE. C
a
n
RADON: �
THE TRANSFEROR AND HIS OR HER AGENT(S)HAVE PROVIDED INFORMATION TO ADVISE THE PROSPECTIVE TRANSFEREES IF THE PROPERTY IS a
LOCATED IN A HIGH POTENTIAL RADON AREA AND/OR COUNTY POTENTIAL LEVEL FOR RADON ACCORDING TO RADON ZONE MAPS FROM THE �
CALIFORNIA DEPARTMENT OF CONSERVATION,DIVISION OF MINES AND GEOLOGY AND/OR THE U.S.ENVIRONMENTAL PROTECTION AGENCY IN 8
CONJUNCTION WITH THE U.S.GEOLOGICAL SURVEY. a
z
}
C
C
A
•
}
a
n
w
A
2
}
C
C
0
n
a
•
O
x
H
C
■
n
BUYER(S) ACKNOWLEDGE RECEIPT OF THE INFORMATION REFERENCED ABOVE (INCLUDED IN THE ATTACHED REPORT) FOR THE
ABOVE I ESCRIBED PROPERTY o
n
•
'a
z
e er D7e Buyer ate �
F•i
•
}
a
n
ei a e u et vatz •
zx
}
y
T
Signature of Seller's Agent Signature of Buyer's Agent �
•
a
CUDISCLOSURE SOURCE
A FIDELITY NATIONAL FINANCIAL COMPANY
Natural Hazard Disclosure Report
Commercial/Industrial & Vacant Land Sales
Customer Support: 800.880.9123
Escrow Number: APN 681 070 016
Order Number: 110105-00354
Dated as of: 11/2/2005 12:55:22 PM
Deliver To
Bonnie Bernard THE INFORMATION CONTAINED IN THIS REPORT IS
Chicago Title INTENDED FOR THE EXCLUSIVE BENEFIT AND USE OF THE
78-000 Fred Waring Drive,Ste. 103 RECIPIENT(S).NO PERSON OTHER THAN THE RECIPIENT(S)
Palm Desert,92211 CA SHOULD RELYUPON, REFER TO, OR USE THIS REPORT, OR
ANY INFORMATIONCONTAINED WITHIN THIS REPORT, FOR
ANY PURPOSE. THE RECIPIENT(S) SHOULD CAREFULLY
READ THE EXPLANATION OFSERVICES, AND, THE
Recipient CONDITIONS AND STIPULATIONSCONTAINED IN THIS
PALM CANYON ASSOCIATES REPORT.
Subject Property
VACANT
PALM SPRINGS,92264 CA NO RECIPIENT MAY RELY ON THIS REPORT UNLESS FULL
PAYMENT FOR IT IS MADE.
INFORMATION
Natural Hazard Reference Map(s) Maps 1 & 2
Form — Natural Hazard Disclosure Statement Attachment
SECTION 1: NATURAL HAZARD SUMMARY
A Special Flood Hazard Area (Any Type Zone "A" or "V") 1
An Area of Potential Flooding (Government Code Section 8589.4) 1
Wildland Area Forest Fire Risks and Hazards (Public Resources Code Section 4136) 2
Very High Fire Hazard Severity Zone (Government Code Section 51183.5) 2
Earthquake Fault Zone (Public Resources Code Section 2621.9) 3
Seismic Hazard Zone (Public Resources Code Section 2694) 3
SECTION II: SUPPLEMENTAL DISCLOSURES
Important Expanded Natural Hazard Information
SECTION III:
Explanation of Services, Conditions and Stipulations - Read Carefully
SECTION I: Natural Hazard Summary
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
SPECIAL FLOOD HAZARD AREA DETERMINATION
BACKGROUND INFORMATION /DISCUSSION:
Pursuant to federal law,The Federal Emergency Management Agency(FEMA)is required to identify and designate areas that are subject to
flooding as part of the National Flood Insurance Program.If a property is located in a special flood hazard area,the cost and availability of flood
insurance may be affected.Property not located in a Special Flood Hazard Area is not relieved from the possibility of sustaining flood damage.
Sources of data:Government agencies and/or their appointed designate(s) Title 42 United States Code Section 4101
FINDINGS:
Based on a review of flood insurance map(s)published by the Director of the Federal Emergency Management Agency,the Company reports
IS located in a Special Flood Hazard Area. IS NOT located in a Special Flood Hazard Area
Do not know/information not available
ADDITIONAL INFORMATION:
an area outside of the 100 year and 500 year flood zones.
DAM INUNDATION / AREA OF POTENTIAL FLOODING DETERMINATION
BACKGROUND INFORMATION/ DISCUSSION:
By this act,the California State Legislature intended to establish procedures for the emergency evacuation and control of populated area(s)
near/below dams Pursuant to Government Code Section 8589.4,The State of California Office of Emergency Services is required to review,
approve and maintain copies of the maps that have been prepared and submitted to them by local governmental organizations,utilities or other
owners of any dam in the state.The maps delineate areas of potential mundanon and flooding that could result from a sudden,partial or total dam
failure.The actual risk of dam failure is not defined by the map(s).This legislation also requires,appropriate public safety agencies of any city,
county,the territory of which is located in such an area,to adopt/implement adequate emergency procedures for the evacuation and control of
populated areas below sucb dams.
Source(s)of data:Government agencies and/or their appointed desiguate(s).Government Code Section 8589.4 Et Seq.
FINDINGS:
Based on a review of the official map(s),available through The State of California Office of Emergency Services,the Company reports:
IS located in a Dam Inundation Zone. IS NOT located in a Dam Inundation Zone
Do not know/information not available
11/2/2005 110105-00354 l
SECTION I: Natural Hazard Summary (continued)
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
VERY HIGH FIRE SEVERITY ZONE DETERMINATION
BACKGROUND INFORMATION/ DISCUSSION:
The California Legislature has declared that space and structure defensibility is essential to diligent fire prevention.Further,the Director of
Forestry and Fire Prevention has identified areas in the state as Very High Fire Hazard Severity Zones based on consistent statewide criteria,and
based on the seventy of fire hazard that is expected to prevail in those areas Determining information includes,but is not limited to:Fuel loading,
terrain(slope),fine weather conditions and other relevant factors.
According to the pertinent codes,local fire districts have created Very High Fire Severity Zone maps covering theirjurisdictions.However the
officially released maps compiled by the state do not include all of these local district maps.Where available,DisclosmeSource®has obtained these
local jurisdiction maps and added them to this search-
Source(s)of data:Government agencies or their appointed desiguate(s) California Government Code Section 51178 and 51179
FINDINGS:
Based on a review of the official map(s)issued by the Director of Forestry and Fire Protection for the State of California,the Company
reports: r
IS located in a Very High Fire Hazard Severity Zone. V IS NOT located in a Very High Fire Hazard Severity Zone
STATE FIRE RESPONSIBILITY AREA/ WILDLAND AREA THAT MAY CONTAIN
SUBSTANTIAL FOREST FIRE RISKS AND HAZARDS DETERMINATION
BACKGROUND INFORMATION/ DISCUSSION:
The State of California Department of Forestry and Fire Prevention designates Areas of State Fire Responsibility.This means The California
Department of Forestry bears the primary financial responsibility for the prevention and/or suppression of fires in these areas.A Seller of real
property located within a State Fire Responsibility Area must disclose the fact that there may be a forest fire risk and hazard on the property,and
the fact that the property owner may be subject to the imposition of fire mitigation measures as set forth in Public Resources Code Section 4291.
However the degree of bazard is not indicated within the official State Fire Responsibility Area maps.It may range from Low to Very High.
Source(s)of data:California Public Resources Code Section 4125
FINDINGS:
Based on a review of the official map(s)issued by the California Department of Forestry and Fire Protection,the Company reports:
IS located in a State Fire Responsibility Area. --N(-IS NOT located in a State Fire Responsibility Area.
11/2/2005 110105-00354 2
SECTION I: Natural Hazard Summary (continued)
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
ALQUIST-PRIOLO EARTHQUAKE FAULT ZONE DETERMINATION
BACKGROUND INFORMATION/ DISCUSSION:
Earthquake Fault Zone maps are delineated and compiled by the California State Geologist pursuant to the Alquist-Priolo Earthquake Fault
Zoning Act.During an earthquake,structures located directly over fault zones(surface fault traces)could sustain damage as a result of a seismic
event resulting from ground fault rupture(surface cracking).For the purposes of this report,an Earthquake Fault Zone is generally defined as an
area approximately 1/4 mile in total width(1,320 feet)located on either side of a known active or potentially active earthquake fault.
An"active"fault as defined by the State of California,Department of Conservation,Division of Mines and Geology is an earthquake fault that
has produced ground surface displacement(ground surface rupture)within the last eleven thousand years.A`potentially active"fault is defined by
the State of California,Department of Conservation,Division of Mines and Geology as a fault that has produced ground surface displacement
(ground surface rupture)within the last 1.5 million years.
Source(s)of data:State of California Department of Conservation Division of Mines and Geology.California Public Resources Code Section
2621 ET SEQ
FINDINGS:
Based on a review of the official Earthquake Fault Zone Map(s),issued by the California State Geologist the Company reports:
IS located in an Alquist-Priolo Fault Zone. _�4_IS NOT located in an Alquist-Priolo Fault Zone.
SEISMIC HAZARD ZONE DETERMINATION
BACKGROUND INFORMATION /DISCUSSION:
The intent of the Seismic Hazards Mapping Act of 1990 is to provide for a statewide seismic hazard mapping and technical advisory program
to assist trues and counties in fulfilling their responsibilities for protecting the public health and safety from the effects of strong ground shaking,
liquefaction(failure of water-saturated soil),landslides and other seismic hazards caused by earthquakes.
Under this act,The California Department of Conservation is mandated to identify and map the state's most prominent earthquake hazards.
Information produced by these maps is utilized(in part)by cities and counties to regulate future development.Development/Construction permits
may be withheld until adequate geologic or soils investigations are conducted for specific sites,and mitigation measures are incorporated into
development plans.
Source(s)of data:California Public Resources Code Section 2694
FINDINGS:
Based on a review of the official map(s)issued by the State of California,Department of Conservation,Division of Mines and Geology,the
Company reports:
Yes-Landslide Hazard Zone No-Landslide Hazard Zone Map not released by state
Yes-Liquefaction Hazard Zone No-Liquefaction Hazard Zone Map not released by state
END OF SECTION 1
11/2/2005 110105-00354 3
SECTION II: Expanded Disclosures
Subject Property:
VACANT PALM SPRINGS, CA 92264 APN:681-070-016
NOTICE REGARDING EXPANDED NATURAL HAZARDS DISCLOSURES
DisclosureSomceo is providing information on locally identified natural hazards set forth below as an additional service because their
disclosure to purchasers is either required by ordinance or the information is readily available.The purpose of this document is to disclose whether
the Subject Property lies within any of the hazard areas described below
DisclosureSource has obtained all maps that are both official and publicly available from city,county,slate and federal sources which
supplement and complete the natural hazard information required by the California Civil Code 1103.
The foregoing statement should be considered a part of the Explanation of Services,Limitations&Disclaimers of this DisclosureSomce
Report and Those Limitations and Disclaimers apply to this Statement.Please refer to them for further information.
EXPANDED FLOOD HAZARD DISCLOSURE
BACKGROUND INFORMATION / DISCUSSION:
Supplemental flood zones include information not covered by Special Flood Hazard Areas as designated by the Federal Emergency
Management Agency nor by Dam Inundation zones as reported by the California State Office of Emergency Services.These can include tsunamis,
seiches(inland lake tsunamis),runoff hazards,historical flood data and additional dike fAme hazards.
FINDINGS:
Based on a review of the available maps,the subject property:
IS located in a supplemental Flood Hazard Zone. IS NOT located in a supplemental Flood Hazard Zone.
ADDITIONAL INFORMATION:
None.
Date:11/2/2005 Repod*:110105-00354 Page: 4
SECTION II: Expanded Disclosures (continued)
Subject Property:
VACANT PALM SPRINGS, CA 92264 APN:681-070-016
NOTICE REGARDING EXPANDED NATURAL HAZARDS DISCLOSURES
DisclosureSourca is providing information on locally identified natural hazards set forth below as an additional service because their
disclosure to purchasers is either required by ordinance or the information is readily available.The purpose of this document is to disclose whether
the Subject Property lies within any of the hazard areas described below.
DisclosureSouree has obtained all maps that are both official and publicly available from city,county,state acid federal sources which
supplement and complete the natural hazard information required by the California Civil Code 1103.
The foregoing statement should be considered a part of the Explanation of Services,Limitations&Disclaimers of this DisclosmeSource
Report and Those Limitations and Disclaimers apply to this Statement.Please refer to them for further information.
SUPPLEMENTAL FIRE HAZARD DISCLOSURE
BACKGROUND INFORMATION:
Local agencies may,at their discretion,include or exclude certain areas from the requirements of California Government Code Section
51182(imposition of fire prevention measures on property owners),following a finding supported by substantial evidence in the record that the
requirements of Section 51182 either are,or are not necessary for effective fne protection within the area.Any additions to these maps that we have
been able to identify and substantiate are included in this search.
There are other substantial fire hazards that are not subject to Section 51182 such as brush fires.We have included these maps in this search.
The State required fire hazard disclosures only indicate areas of extremely high risk Also included in this search are known areas of moderate
to high fire risk
FINDINGS:
Based on a review of the available maps,the subject property:
IS located in a supplemental Fire Hazard Zone. IS NOT located in a supplemental Fire Hazard Zone.
ADDITIONAL INFORMATION:
None.
Date:11/2/2005 Report#:110105-00354 Page: 5
SECTION II: Expanded Disclosures (continued)
Subject Property:
VACANT PALM SPRINGS, CA 92264 APN:681-070-016
NOTICE REGARDING EXPANDED NATURAL HAZARDS DISCLOSURES
DisclosunSourcev is providing information on locally identified natural hazards set forth below as an additional service because their
disclosure to purchasers is either required by ordinance or the information is readily available The purpose of this document is to disclose whether
the Subject Property lies within any of the hazard areas described below.
DisclosmeSource has obtained all maps that are both official and publicly available from city,county,state and federal sources which
supplement and complete the natural hazard information required by the California Civil Code 1103.
The foregoing statement should be considered a part of the Explanation of Services,Limitations&Disclaimers of this DisclosureSource
Report and Those Limitations and Disclaimers apply to this Statement Please refer to them for further information.
EXPANDED GEOLOGIC HAZARD DISCLOSURE
BACKGROUND INFORMATION:
'the California Division of Mines and Geology(DMG)has not completed the project assigned it by Section 2696 of the California Public
Resources Code to identify areas of potential seismic hazard within the State of California.The DMG and the USGS have performed many
valuable studies that supplement the Section 2696 maps and fill in many missing areas.These maps are included in this search.
Also included in this search are maps that indicate many hazards that may or may not be seismically related,including,but not limited to,
landslides,debris flows,mudslides,coastal cliff instability,volcanic hazards and avalanches.
Many cities and counties require geologic studies before any significant construction if the subject property is in or near a geologic hazard
known to them.We have included all official and publicly available maps indicating geologic hazards known by these jurisdictions
FINDINGS:
Based on a review of the available maps,the subject property:
IS located in a supplemental Geologic Hazard Zone, _1( IS NOT located in a supplemental Geologic Hazard Zone.
ADDITIONAL INFORMATION:
None.
Date:11/2/2005 Report#r. 110105-00354 Page: 6
SECTION II: Expanded Disclosures (continued)
Subject Property:
VACANT PALM SPRINGS, CA 92264 APN:681-070-016
NOTICE REGARDING EXPANDED NATURAL HAZARDS DISCLOSURES
DisclosureSourcov is providing information on locally identified natural hazards set forth below as an additional service because their
disclosure to purchasers is either required by ordinance or the information is readily available.The purpose of this document is to disclose whether
the Subject Property lies within any of the hazard areas described below.
DisclosareSomce has obtained all maps that are both official and publicly available from city,county,state and federal sources which
supplement and complete the natural hazard information required by the California Civil Code 1103.
The foregoing statement should be considered a part of die Explanation of Services,Limitations&Disclaimers of this DisclosureSource
Report and Those Limitations and Disclaimers apply to this Statement Please refer to them for further information.
EXPANDED EARTHQUAKE FAULT HAZARD DISCLOSURE
BACKGROUND INFORMATION:
Many local jurisdictions have different or higher standards than the state for the identification of active earthquake faults.These jurisdictions
have created their own maps which indicate the active faults according these standards.Some jurisdictions also recommend or require the
disclosure of potentially active faults.We have included both types of maps in our search.
Many cities and counties require geologic studies before any significant construction if the subject property is in or near an earthquake fault
zone known to them.We have included all official and publicly available maps indicating earthquake faults known by these jurisdictions.
FINDINGS:
Based on a review of the available maps,the subject property:
IS located in a supplemental Fault Hazard Zone. IS NOT located in a supplemental Fault Hazard Zone.
ADDITIONAL INFORMATION:
None.
Date:11/2/2005 Report#:110105-00354 Page: 7
SECTION III
DISCLOSURESOURCE® NATURAL HAZARD REPORT COMMERCIAL
PROPERTY/VACANT LAND SALES
EXPLANATION OF SERVICES
This DisclosureSource report has been prepared by Disclosure Source,hereinafter the Company,for the sole and only purpose of assisting the
Seller of the Property identified in the DisclosureSource Report Summary and his or her Agents to comply with portions of the Disclosure Statutes
listed in the Conditions and Stipulations.The portions of the Disclosure Statutes that are the subject of this DisclosureSource Report require that the
Seller or his or her Agents disclose to a Purchaser or proposed purchaser that a Local Agency has indicated that the Property is within a Property
Location Zone identified in the DisclosureSource Report Summary
The Disclosure Information contained in the DisclosureSource Report Summary is derived solely from the Property Location Records as
defined in the Conditions and Stipulations.The Company has not made any investigation or analysis of the data supporting the information
contained in the Property Location Records.while it is possible that the Company may have information that is not disclosed herein concerning the
Property the Seller,Purchaser or proposed purchaser and their respective Agents acknowledge and agree that the Company is under no duty or
obligation to disclose such information.This DisclosureSource Report is not intended to provide or represent either explicitly or by implication
information regarding any matters not specifically disclosed by the Property Location Records.
This Report and the Disclosure Information may not be used for any purpose other than as stated above or by any other person or entity,
including but not limited to,insurance companies,lenders,or governmental agencies.
This DisclosureSource Report is issued as of the Property Location Disclosure Date specified in the DisclosureSource Report Summary.
The Company has no responsibility to the Seller,Purchaser or proposed purchaser,and their respective Agents for any inaccuracy of any of
the Disclosure Information as a result of any act or event that occurs subsequent to the Property Location Disclosure Date.
The Seller,Purchaser or proposed purchaser and their respective Agents understand and acknowledge that the Company does not war-rani,
guarantee or insure against error,inaccuracy or omission of the Disclosure Information.By relying on the Disclosure Information the Seller,
Purchaser or proposed purchaser and their respective Agents understand,agree and acknowledge that the Company has specifically disclaimed any
liability for Loss or Damage arising under this DisclosureSource Report except as provided by the Loss or Damage provisions of the Conditions
and Stipulations.
The Company has not performed a physical inspection of the Property and shall have no liability for any matter that would have been
disclosed by inspection including but not limited to;any physical defect,environmental,architectural,structural,mechanical,engineering,design
defects relating to the Property or any structure thereon,settlement,drainage,subsidence or soil conditions.This DisclosureSource Report is not
intended to provide or represent either explicitly or by implication information concerning the condition,character,compliance or noncompliance
with laws,ordinances or governmental regulations effecting the Property or any structure located thereon.The Company has not con-ducted any
test or research relating to the existence of hazardous or toxic materials or contamination on the Property.The Purchaser or pro-posed purchaser
may(at their expense)desire to retain the services of an engineer,architect,environmental consultant and/or other expert concerning the Property
and the structures located thereon as to matters other than the specific Disclosure Information contained in the Mandatory Disclosure
DisclosureSource Report Summary.
The Seller,Purchaser or proposed purchaser further understaud,agree and acknowledge that this DisclosureSource Report is not intended to
provide property damage or personal injury insurance and that the liability of the Company for any error,inaccuracy or omission of the Disclosure
Information does not include loss or damage resulting from earthquakes,fees,flooding,or other physical hazards that could affect the Property or
its occupants.The Seller and Purchaser understand and acknowledge that various forms of properly damage and personal injury insurance may be
available from private and public sources.
The liability of the Company under this DisclosureSource Report may not be orally or otherwise enlarged by any employee of the Company
except as provided in the Conditions and Stipulations
Date: 11/2/2005 Report#:110105-00354
SECTION III (continued)
CONDITIONS AND STIPULATIONS:
1.Definition of Terms:
Agents.
Licensed real estate agents and brokers who represent the Seller and/or Purchaser
Claimant.
The Seller and/or the Purchaser or proposed purchaser and/or then respective agents who received this Mandatory Disclosure Report and are claiming Loss or
Damage ansing from any error,inaccuracy or omission of the Disclosure Information.
Disclosure Information'
The answers set forth in the DrsclosureSourcex Report Summary as to each specific question regarding the location of the Property in relation to the Property
Location Zones is disclosed by the Property Location Records as of the Property Location Disclosure Date
Disclosure Statutes
California Government Code section 51183 5 California Public Resources Code section 2621.9
Califormi Government Code section 8589.3 California Government Code section 8589 4
California Public Resources Code section 2694 California Public Resources Code section 4136
California Civil Cade section 1102 15 California Civil Code section 1102 17
California Penal Code section 290 4
Local Agency'
The Federal,State,City and/or County,Department,District,Agency or local junsdiction referenced in the laws referred to in the Disclosure Statutes
Locally Identified Natural Hazard Information
Natural hazard information obtained from the County General Plan or from Local Agencies in the city/county where the Property is situated
Lass or Damage:
The least of,(i)actual out-of-pocket loss or(ii)the difference between the value of the Property located as disclosed in the DisclosureSource Report Summary,
and the value of the Property being located otherwise as disclosed in the Land Location Records as of the Property Location Disclosure Date or(in)the fair market
value of the Property as of the Property Location Disclosure Date or(iv)Five Hundred Thousand Dollars(S 500,000.00).
DisclosureSource Report Summary
The DisclosureSource Report Summary attached to this DisclosureSource Report,
Property:
The land identified in the DisclosureSource Report Summary The term"Property"is limited to the land identified in the DisclosureSource Report Summary
excluding any appurtenant interests beyond the boundary of the land including,but not limited to,any common area interests,or any rights,title,interests,estate or
easement in abutting streets,alleys,or rights of way,or water,watercourses,or waterways.
Property Location Disclosure Date:
Date specified in the DisclosureSource Report Summary.
Property Location Records'
As of the Property Location Disclosure Date,the records,data or maps specifically identified in the DisclosureSource Report Summary for each of the Property
Location Zones
Property Location Zones.
The zones,areas or districts identified in the DisclosureSource Report Summary
Purchaser or proposed purchaser:
The party who acquires or is interested in acquiring title to the Property by purchase directly from the Seller
Seller.
The owner of the Property on the Property Location Drsclosme Date
2.No Third Party Beneficiaries
The Disclosure Information contained in the Mandatory Disclosure Report Summary may not be relied upon by any person or entity other than the Seller,
Purchaser or proposed purchaser and their respective Agents.
3.Notice of Claim
All claims and notices shall be addressed to.
Disclosure Source
Claims Department
1521 North Cooper Street,Suite 400
Arlington,Texas 76011
Any claim must be given promptly in writing when knowledge is acgmred by any Claimant of any information which is contrary to the Disclosure Information
contained in the DisclosureSource Report Summary.If a written claim notice is not given promptly to the Company,then,all liability ofthe Company shall terminate
with regard to the matter or matters for which a prompt clam notice is requned but only to the extent that the failure to give prompt written notice has prejudiced the
Company
4.No duty to defend and/or pay any attorneys' fees,costs and expenses
In the event of any error,omission or inaccuracy in the Disclosure Information,the Company shall have,notwithstanding California Civil Code Section 2778 no
duty to defend and/or pay any attorneys'fees,costs and expenses incurred by a Claimant
Date: 11/2/2005 Report#: 110105-00354
SECTION III (continued)
CONDITIONS AND STIPULATIONS:
5.Proof of Loss or Damage
In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided to the Company,a proof of Loss or Damage
signed and sworn to by the Claimant shall be famished to the Company within ninety(90)days after the Claimant shall ascertain die facts giving rise to the Loss or
Damage The proof of Loss or Damage shall describe matters covered by this DisclosureSource,Report,which constitutes the basis for Loss or Damage and shall state
the basis of calculating the amount of the Loss or Damage.If the Company is prejudiced by the failure of the Claimant to provide the required proof of Loss or Damage
the obligations of Disclosure Source to the Claimant under this DisclosureSource Report shall terminate
6.Aggregate Total Liability
The total aggregate liability of the Company under this DisclosureSource Report as to all Claimants,shall not exceed the lesser of.
(a)Actual out-of-pocket loss or,
(b)The difference between the value of the Property located as disclosed in the DisclosureSource Report Summary and the value of the Property being located
otherwise as disclosed in Property Location Records as of the Property Location Disclosure Date or,
(c)The fair market value of the Property as of the Property Location Disclosure Date or,
(d)Five Hundred Thousand Dollars(S 500,000).
All payments for Loss or Damages made to any Claimant shall reduce the amount of liability for Loss or Damage under this DisclosureSource Report pro tanto
7.Voluntarily Assumed Liability
The Company shall not be liable for Loss or Damage to any Claimant for liability voluntarily assumed by the Claimant in settling any claim or suit without the
prior written consent of the Company
8.Payment of Loss
When liability and the extent of Loss or Damage has been definitely fixed in accordance with Conditions and Stipulations,the Loss or Damage shall be payable
within(30)thirty days thereafter
9.Subrogation Upon Payment or Settlement
Whenever the Company shall have settled and paid a claim under this DisclosureSorce Report,all right of subrogation shall vest in the Company unaffected by
any act of the Claimant.
The Company shall be subrogated to and be entitled to all rights and remedies which the Claimant would have had against any person,policy of insurance or
property in respect to the claim had this DisclosureSource Report not been issued.If requested by the Company,the Claimant shall transfer to the Company all rights
and remedies against any person,policy of insurance or property necessary in order to perfect this right of subrogation The Claimant shall permit the Company to sue,
compromise or settle in the in the name of the Claimant and to use the time of the Claimant in any transaction or litigation involving these rights or remedies
If payment on account of a claim does not fully cover the Loss or Damage of the Claimant.the Company shall be subrogmed to all rights and remedies of the
Claimant in the proportion which the payment made by the Company bears to the whole amount of the Loss or Damage.
10.Arbitration
Unless prohibited by applicable law,either the Company or the Claimant may demand arbitration pursuant to the Commercial Arbitration Rules of the,American
Arbitration Association Arbitrable matters may include,but are not limited to,any controversy or claim between the Company and the Claimant arising out of or
relating to this DisclosureSource Report,any service of the Company in connection with the issuance of this DisclosureSource Report or other obligation The Rules in
effect at the Property Location Disclosure Dale shall be binding upon the panes.The law of the State of Texas shall apply to arbitration under the Commercial
Arbitration Rules
A copy of the Rules may be obtained from the Company upon Request
11.Liability Limited to This DisclosureSource Report;DisclosureSource Report is Entire Contract
(a)This DisclosureSource Report is the entire contact between the Seller,Purchaser or proposed purchaser,their respective Agents and the Company.In
interpreting any provision of this DisclosureSource Report,this DisclosureSource Report shall be construed as a whole All prior or contemporaneous oral agreements,
understandings,representations and statements are merged herein and shall be of no further force or effect
(b)Any modification,amendment or alteration of the terms of this DisclosureSource Report shall be effective only if made by a written endorsement attached to
this DisclosureSource Report and signed by a President Vice President,Secretary,AssistantSecretary,validating officer or other authorized signatory ofthe
Company.
(c)Each endorsement to this DisclosureSource Report is made a pan of this DisclosureSource Report and is subject to all of the terms and provisions hereof.
Unless otherwise expressly set forth in the endorsement,it shall not(i)modify any of the terms and provisions of this DisclosureSource Report or other endorsement
(it)Extend the Property Location Disclosure Date or the date of other endorsements.
(d)Any claim of Loss or Damage whether or not based on negligence,or any action or proceeding asserting such claim,shall be restricted to this
DisclosureSource Report
12.Severability
In the evens any provision of this DisclosmeSomce Report is held invalid or unenforceable under applicable law,this DisclosureSource Report shall be deemed
MAID include that provision and all other provisions shall remain in full force and effect
13.Notices,Where Sent
All notices required to be given the Company and any statement in writing required to be famished the Company shall include a copy of this DisclosureSource
Report and shall be addressed to
Disclosure Source
1521 North Cooper Street,Suite 400
Arlington,Texas 76011
Date: 11/2/2005 Report#:110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
TOXIC MOLD DISCLOSURE
(PURSUANT TO THE"TOXIC MOLD PROTECTION ACT OF 2001)
BACKGROUND INFORMATION I DISCUSSION:
California law(Civil Code Section 1102.6 Et Seq.)requires any seller,transferor,or lessor of residential,commercial or industrial property,
or a public entity that owns,leases,or operates a building provide a written disclosure to prospective purchasers,prospective tenants,renters,
or occupants if the seller,transferor,lessor or public entity has knowledge of mold conditions or in specified instances has reasonable cause to
believe,that mold(visible or hidden)that exceeds permissible exposure limits is present that affects the unit or building.
The State Department of Health Services is designated as the lead agency for identifying; adopting,and determining permissible exposure
limits to mold in indoor environments,mold identification and remediation efforts.
Publications providing information on toxic mold:
• General Information Molds, Toxic Mold, and Indoor • Health Effects of Toxin-Producing Molds In California
Air Quality • Stachybotrys Chartarum (atra) — A mold that may be
• Biological Pollutants in Your Home found in water-damaged homes
• Mold in My Home: What Do I Do? • Fungi-and Indoor Air Quality
Available to the public on the Inteme[ or at no cost from:
California Department of Health Services
Environmental Health Investigation Branch
1515 Clay St,Suite 1700 Telephone:(5I0)622 4500
Oakland,CA 94612 Web:wmv dhs-iaq ca.gov; wu vial-iaq org MOLD; oivwdhscn.gov/ehib
COMMERCIAL / INDUSTRIAL ZONING DISCLOSURE
BACKGROUND INFORMATION I DISCUSSION:
Pursuant to California Civil Code Section§1102,17,the seller of residential real property subject to this article who has actual knowledge that
the property is adjacent to,or zoned to allow,an industrial use described in Section 731a of the Code of Civil Procedure, or affected by a
nuisance created by such a use,shall give written notice of that knowledge as soon as practicable before transfer of title.
Additional Source Information:California Code of Civil Procedure Section§731a.
"Whenever any city,city and county,or county shall have established zones or districts under authority of law wherein certain manufacturing
or commercial or airport uses are expressly permitted,except in an action to abate a public nuisance brought in the time of the people of the
State of California,no person or persons,firm or corporation shall be enjoined or restrained by the injunctive process from the reasonable and
necessary operation in any such industrial or commercial zone or airport of any use expressly permitted therein,nor shall such use be deemed
a nuisance without evidence of the employment of unnecessary and injurious methods of operation. Nothing in this act shall be deemed to
apply to the regulation and working hours of canneries,fertilizing plants,refineries and other similar establishments whose operation may
produce offensive odors."
Findings:
Based on the current tax assessment roles,as of the date of this report,the company reports the following information affecting this property:
The Property IS Located Within One Mile of A Property Zoned For Commercial Or Industrial Use.
The Property IS NOT Located Within One Mile of A Property Zoned For Commercial Or Industrial Use.
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
MILITARY ORDNANCE LOCATION DISCLOSURE
BACKGROUND INFORMATION /DISCUSSION:
California Civil Code Section§1102.15 states"The seller ofresidential real property subject to this article who has actual knowledge of any
former federal or state ordnance locations within the neighborhood area shall give written notice of that knowledge as soon as practicable before
transfer of title."
For purposes of this section,"former federal or state ordnance locations"means an area identified by an agency or instrumentality of the
federal or state government as an area once used for military training purposes,which may contain potentially explosive munitions.
"Neighborhood area"means within one mile of the residential real property.
DisclosureSourcea's liability for any claim,or claims,including but not limited to any claim for breach of contract or negligence,relating to
or arising out of DisclosureSource's services shall not exceed,in the aggregate,the amount,if any,by which the purchase price paid for the
property by the purchaser exceeds the market value of the property on the Preparation Date of this report.
DisclosureSource shall not be liable for any incidental or consequential damages suffered by the recipients
IMPORTANT NOTE:
This Military Ordnance Location disclosure was obtained through the U S.Army Corps of Engineers database of known Formerly Used
Defense Sites in the state of California.The information provided herein represents all publicly available information of Formerly Used Defense
Sites known to contain hazards.
FINDINGS:
According to the information available from The U.S.Army Corps of Engineers database of known Formerly Used Defense Sites in the State
of California On the preparation date of this report,the Company reports.
FORMER FEDERAL/STATE ORDNANCE LOCATIONS WITHIN YOUR COUNTY ARE DESCRIBED AS FOLLOWS:
City Site Name USACE District Site Number
BANNING BANNING RIFLE RANGE SPL J09CA0234
BLYTHE BLYTHE ARMY AIRFIELD SPL J09CA0245
CADIZ CADIZ LAKE SONIC TAR#10 SPL J09CA0255
CADIZ CADIZ LAKE SONIC TARGET#7 SPL J09CA0261
CADIZ CADIZ LAKE SONIC TARGET#8 SPL J09CA0262
FREDA CAMP COXCOMB SPL J09CA0274
GRANITE CAMP GRANITE SPL J09CA7043
RIVERSIDE CAMP HAAN SPL J09CA0279
RICE CAMP RICE SPL J09CA7186
INDIO CAMP YOUNG(CAMA) SPL J09CA0296
Unknown CORN SPRINGS GAP FILLER ANNEX SM-16 SPL J09CA0308
RIVERSIDE CP ANZA SPL J09CA0267
DESERT CENTER DESERT CENTER DIVISION CAMP SPL J09CA0342
DESERT CENTER DESERT CNTR ARPT SPL J09CA0341
PERRIS GAVILAN PLATEAU MANEUVER AREA SPL J09CA0375
Unknown MARCH AFB-POORMAN GUNNERY RANGE SPL J09CA7400
RIVERSIDE MARCH FIELD SPL J09CA7168
TEMECULA MARCH TVOR ANX SPL J09CA0479
Unknown NAVALORDNANCELAB SPL J09CA1084
PALM SPRNGS PALM SPRINGS ARMY AIR FIELD SPL J09CA0532
GLEN AVON PYRITE CANYON SPL J09CA0198
BLYTHE RICE AIR FIELD SPL J09CA0573
Unknown RICE VALLEY SAND DUNES SPL J09CA0050
SALTON SEA SALTON SEA BOMB TARGET(FBT 15)(#56) SPL J09CA0186
SALTON SEA SALTON SEA BOMB TARGET(FBT 13)(#54) SPL J09CA0184
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
MILITARY ORDNANCE LOCATION DISCLOSURE (continued)
City Site Name USACE District Site Number
SALTON SEA SALTON SEA BOMB TARGET(FBT 14)(955) SPL J09CA0185
Unknown SHAVERS SUMMIT AIRFIELD SPL J09CA0629
TEMECULA TEMECULA BOMB TARGET#107 SPL J09CA7469
TEMECULA TEMECULA BOMBING RANGE#1 SPL J09CA7451
TEMECULA TEMECULA BOMBING RANGE#2 SPL J09CA7452
THERMAL THERMAL GRD AIR STA BASE SPL J09CA0645
INDIO TORNEY GEN HOSPITAL SPL J09CA0651
RIPLEY WILEY WELLS WATER POINT(CAMA) SPL J09CA0710
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
REGISTERED SEX OFFENDER DATABASE DISCLOSURE ALSO KNOWN AS
"MEGAN'S LAW"
BACKGROUND INFORMATION / DISCUSSION:
For more than 50 years,California has required sex offenders to register with their local law enforcement agencies.However,information on
the whereabouts of these sex offenders was not available to the public until the implementation of the Child Molester Identification Line in July
1995.The information available was further expanded by California's Megan's Law in 1996(Chapter 908,Stats.of 1996)
The public may search a database,via the internet at:hup//www meeanslaw ca.gov,by a sex offender's specific time,obtain ZIP Code and
city/counTy listings,obtain detailed personal profile information on each registrant,and use the map application to search your neighborhood or
anywhere throughout the State to determine the specific location of any of those registrants on whom the law allows the State of California to
display a home address
Also,the Department of Justice,County Sheriff's Departments,and municipal police departments of cities with a population of more than
200,000 shall make,and other law enforcement agencies may make,information available in the form of a CD-ROM or other electronic media.The
CD-ROM is available for public viewing at select law enforcement agency offices.
DisclosureSourceo's liability for any claim,or claims,including but not limited to any claim for breach of contract or negligence,relating to
or arising out of DisclosmeSomce's services shall not exceed,in the aggregate,the amount,if any,by which the purchase price paid for the
property by the purchaser exceeds the market value of the property on the Preparation Date of this report.
DisclosureSource shall not be liable for any incidental or consequential damages suffered by the recipients.
LAW ENFORCEMENT AGENCIES PROVIDING INFORMATION AVAILABLE FOR PUBLIC VIEWING:
Agency: RIVERSIDE COUNTY SHERIFF'S DEPARTMENT
Address: 4095 LEMON STREET
Phone: (909) 955-2440
Hours of Operation: 8:00 AM TO 5:00 PM, MONDAY TO FRIDAY
Estimated Driving Distance: 62.5 Miles
For additional information,you may visit the State of California Attorney General Megan's Law Web Page:hup://www.megaxeJaw.cagov/
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
AIRPORT INFLUENCE AREA DISCLOSURE
BACKGROUND INFORMATION / DISCUSSION:
Section 1103.4 of the California Civil Code requires notice if a property is encompassed within an airport influence area. According to Section 11010
of the Business and Professions Code,an airport influence area is defined as"an area in which current or future airport related noise,overflight,safety or
airspace protection factors may significantly affect land uses or necessitate restrictions on those uses." Where publicly available at the time of the
report,Disclosure Source®has utilized any and all airport influence area maps from county Airport Land Use Commissions(ALUC). Airport influence
area maps can be found within a county Airport Land Use Comprehensive Plan,available to the public through most county planning departments.
According to airport influence maps available,:
The Property IS NOT located in an airport influence area.
✓ The Property IS located in an airport influence area -NOTICE OF AIRPORT IN VICINITY This property
is presently located in the vicinity of an airport,within what is known as an airport influence area. For that reason,the property
may be subject to some of the annoyances or inconveniences associated with proximity to airport operations (for example:noise,
vibration,or odors). Individual sensitivities to those annoyances can vary from person to person. You may wish to consider what
airport annoyances,if any,are associated with the property before you complete your purchase and determine whether they are
acceptable to you.
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
AIRPORT PROXIMITY DISCLOSURE
BACKGROUND INFORMATION / DISCUSSION:
California Civil Cade§1102.17.states"The seller of residential real property subject to tins article who has actual knowledge that the
property is affected by or zoned to allow an industrial use described in Section 731a of the Code of Civil procedure shall give written nonce of that
knowledge as soon as practicable before transfer of title.
Industrial use identified in Section 731a includes but is not limited to airport uses.
Aircraft landing facilities disclosed herein consists of those owned by the United States Federal Government(Military aviation),publicly and
private owned civil and commercial aviation facilities,except private landing facilities(restricted public access),glider ports,and facilities that
have not been assigned a current location identifier by the federal Aviation Administration.
DisclosureSources's liability for any claim,or claims,including but not limited to any claim for breach of contract or negligence,relating to
or arising out of DisclosureSource's services shall not exceed,in the aggregate,the amount,if any,by which the purchase price paid for the
property by the purchaser exceeds the market value of the property on the preparation Date of this report.
DisclosureSource shall not be liable for any incidental or consequential damages suffered by the recipients
According to information available from the United States Department of Transportation(Bureau of Statistics)the Company reports the
following aircraft landing facilities within the estimated distance of the subject property.
fD# Airport Name Airport Type Distance
PSP PALM SPRINGS INTERNATIONAL AIRPORT COMMERCIAL/CIVILIAN 2.5 Miles
For further information regarding any of the public aircraft landing facilities identified within this disclosure,please contact the following agency:
Western Pacific Region Airports Division
15000 Aviation Blvd, #312
Hawthorne, CA 90261
(310) 725-3600
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
RADON DISCLOSURE
BACKGROUND INFORMATION / DISCUSSION:
Radon gas is a colorless,odorless radioactive gas that is produced by the natural decay of uranium,which is found in nearly all
soils. Because radon is a gas,it can seep from the ground into the air in a house through openings in the ground,and its presence
increases the risk of lung cancer.
DisclosureSource has obtained the following information from a 1999 study published by Lawrence Barkley National Laboratory
and Columbia University,with support from the U.S.Department of Energy and the U.S Environmental Protection Agency.
Additional information may be found at httn://eetd.lbl.eov/IEP/hieb-radon/USem.btm.
The predicted median annual-average of all fifty-eight counties in California is below 2.0 pCi/L(piwCuries per liter of air). If
the radon level is greater than 4pCt/L,the Environmental Protection Agency suggests remediation.
It is important to note that the median annual-averagejust listed is a prediction,and the actual median is subject to some
uncertainty Also,radon concentrations in a county may be highly variable Some homes may have five times as high,or five times
as low,a concentration as the median for a county. All areas have some high radon homes. Long-term(up to one year)measurement
is generally recommended for the most accurate determmation of radon levels. The U.S.Environmental Protection Agency
recommends that all homes be tested for radon
More information may be found at the Radon Project web site from the Columbia University Department of Statistics and
Lawrence Berkeley National Laboratory at httn:/hvew.v.stat.columbia.edu/radon. This site may assist homeowners in deciding whether
they have a serious radon problem and what to do about it.
The U S.Environmental Protection Agency and U S.Geological Survey have also produced a map that assigns one of three zone
designations based on radon potential to each county According to the U.S.EPA,each zone designation reflects the average short-term radon
measurement that can be expected to be measured in a budding without the implementation of radon control methods. This map is not meant
to be used to determine whether a particular home should be tested for radon,but is used to natal various government agencies and
organizations in focusing their radon program resources. Homes with high levels of radon have been found in all three zones The three zone
designations based on radon potential are.
Zone I Highest Potential(greater than 4 pCdL)
Zone 2 Moderate Potential(from 2 to 4 pC✓L)
Zone 3 Low Potential(less than 2 pCi/L)
According to the EPA Map of Radon Zones,this county is in Zone 2
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
HABITAT SENSITIVITY AREA DISCLOSURE: RED-LEGGED FROG
BACKGROUND INFORMATION / DISCUSSION:
The California Endangered Species Act,Fish and Game Code,section 2051,states that there are certain species offish,wildlife
and plants that are in danger of,or threatened with,extinction because their habitats are being threatened,destroyed or adversely
modified.
According to the U S Fish and Wildlife Service,critical habitat areas of the California red-legged frog include suitable aquatic
habitat,or permanent still or slow moving bodies of water such as ponds,back eaters within streams or creeks,marshes,and lagoons.
Other critical habitat areas are upland areas within the watershed boundary that are close in proximity to the water's edge,and upland
or welland areas that connect suitable aquatic habitats. Habitat areas have been threatened through agriculture,urbanization,mining,
overgrazing,recreation,timber harvesting,invasion of non-native plants,impoundments,water diversions,reservoir construction,
degraded water quality,and introduced predators and competitors
Legislation declares that landowner cooperation is essential for conservation on those lands that have been identified as a
habitat for endangered or threatened species. According to Section 2052 1 of the Fish and Game Code,if a person needs to address
mitigation measures in relation to a particular impact on a threatened species,then those measures will be roughly proportional to the
impact that the person has on those species. The required measures will be capable of successful implementation,and will maintain
the person's objectives as much as possible in relation to section codes.
For the purposes of this report,"sensitivity areas"will include historical documentation of actual sightings,breeding areas,
population locations as well as current and critical habitats. This document is to notify the buyer whether the Subject Property lies
within an area known to be important to the conservation of the California Red-Legged Frog,which is listed as a state and/or federally
threatened species.
Disclosure Source recommends the buyer contact the California Department of Fish&Game to ascertain what considerations
might be involved as a result of being in this particular habitat sensitive area. For further information regarding the red-legged frog
habitat sensitive area,please contact the Dept.of Fish&Game at 916-322-2493,or at www dfg.ca.gov/whdab.
FINDINGS:
According to maps in the California Natural Diversity Database of the California Department of Fish and Game,and Critical Habitat
Coverage maps from the U.S.Fish and Wildlife Service:
The property IS located within a California Red-Legged Frog habitat sensitive area.
The property IS NOT located within a California Red-Legged Frog habitat sensitive area.
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
POSSIBLE NATURALLY OCCURRING ASBESTOS DISCLOSURE
BACKGROUND INFORMATION/ DISCUSSION:
Asbestos is the common time for a group of silicate minerals that are made of thin,strong fibers It occurs naturally in certain geologic
settings in California,most commonly in ultrabasic and ulbamafic rock,including serpentine rock,and along associated faults. Chrysotile is
the most common type of asbestos,and is often contained in serpentine rock Serpentine rock is a typically grayish-green to bluish-black color
rock that may be shiny in appearance,and is commonly found in the Sierra foothills,the Klamath Mountains,and Coast Ranges. While
asbestos formation is more likely in the formations of these rocks,its presence is not certain.
Because asbestos is a mineral,asbestos fibers are generally stable in the environment The fibers will not evaporate in the air. Some
naturally occurring asbestos can become friable,or crushed into a powder. This may occur when vehicles drive over unpaved roads or
driveways that are surfaced with ultrabasic,ultramafic or serpentine rock,when land is graded for building purposes,or at quarrying
operations. Weathering and erosion may also naturally release asbestos. Friable asbestos can become suspended in the air,and under these
conditions,asbestos fibers represent a significant risk to human health Asbestos is a known carcinogen,and inhalation of asbestos may result
in the development of lung cancer
DisclosureSource bas obtained geologic maps from the California Department of Conservation,Division of Mines and Geology,which
detail areas within the state that contain naturally occurring ultrabasic and uhrnmafic rocks. Those properties whose underlying geologic
substructure contains these types of rock,with their higher potential for asbestos content,have a higher chance of asbestos exposure,and thus
may be in a potential asbestos hazard area
FINDINGS:
According to Geologic Maps from the California Department of Conservation,Division of Mines and Geology,that outline areas
containing ultrabasic and ultramafic rocks,which may have naturally occurring asbestos
The property IS located in a potential asbestos hazard area.
The property IS NOT located in a potential asbestos hazard area.
11/2/2005 110105-00354
Supplemental Disclosures
Subject Property:
VACANT, PALM SPRINGS, CA 92264 APN: 681-070-016
HABITAT SENSITIVITY AREA DISCLOSURE: CALIFORNIA TIGER
SALAMANDER
BACKGROUND INFORMATION / DISCUSSION:
The California Endangered Species Act,Fish and Game Code,section 2051,states that there are certain species of fish,wildlife and plants
that are in danger of,or threatened with,extinction because then habitats are being threatened,destroyed or adversely modified. The main
provisions of this act generally parallel that of the Federal Endangered Species Act
The California Tiger Salamander(Ambystoma califomiense)has been listed by the U S.Fish&Wildlife Service as threatened As per this
agency and the California Fish and Game Code section 2067,a`threatened species"is one that is likely to become an endangered species in the
foreseeable future in the absence of. special protection and management efforts. "
According to the U S Fish and Wildlife Service,critical habitat areas of the California Tiger Salamander include"grasslands and low(under
1500 fool)foothill regions where lowland aquatic sites are available for breeding" They prefer temporary pools or ponds that are similar,such as
stock ponds that are allowed to go dry. They are restricted to large vernal pools(wetlands that fill during fall and winter rains),veinal playas and
large sag ponds. They also require the burrows of mammals where they can enter a dormant state The decline of this salamander population is
primarily due to the"loss and fragmentation of habitat from human activities and the encroachment of nonnative predators"
Legislation declares that landowner cooperation is essential for conservation on those lands that have been identified as a habitat for
endangered or threatened species. According to Section 2052.1 of the Fish and Game Code,if a person needs to address mitigation measures in
relation to a particular impact on a threatened species,then those measures will be roughly proportional to the impact that the person has on those
species The required measures will be capable of successful implementation,and will maintain the person's objectives as much as possible in
relation to section codes.
For the purposes of this report,"sensitivity areas"will include historical documentation of actual sightings,breeding areas,population
locations as well as current and critical habitats. This document is to notify the buyer whether the Subject Property lies within an area known to be
important to the conservation of the California Tiger Salamander,which is listed as a state and/or federally tivewened species.
Disclosure Source recommends the buyer contact the California Deparhnent of Fish&Game to ascertain what considerations might be
involved as a result of being in this particular habitat sensitive area For further information regarding the California Tiger Salamander habitat
sensitive area,please contact the Dept.of Fish&Game at 916-322-2493,or at F ttp//www dfe ca gov/whdab
FINDINGS:
According to maps in the California Natural Diversity Database of the California Department of Fish and Game,and Critical Habitat Coverage
maps from the U.S.Fish and Wildlife Service'
The property IS located within a California Tiger Salamander habitat sensitive area.
The property IS NOT located within a California Tiger Salamander habitat sensitive area.
11/2/2005 110105-00354
SIGN AND RETURN
CHICAGO TITLE COMPANY
78-000 Fred Waring Drive,SUITE 103,PALM DESERT,CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 52050042 - K42 Escrow Officer LINDA SALCIDO Date November 3, 2005
NOTICE OF TAX WITHHOLDING REQUIREMENTS
In accordance with Sections 18662 and 18668 of the California Revenue and Taxation Code,a buyer may be required
to withhold an amount equal to THREE AND ONE-THIRD percent (3-1/3%) of the sales price in the case of a
disposition of California real property Interest by either:
1. A seller who Is an individual or when the disbursement Instructions authorize the proceeds be sent to a
"financial Intermediary"of the seller,OR
2. A corporate seller that has no permanent place of business in California.
The buyer may become subject to penalty for failure to withhold In an amount equal to the greater of Ten percent(10%)
of the amount required to be withheld or five hundred dollars($500).
However, notwithstanding any other provision included in the California statutes referenced above, no buyer will be
required to withhold any amount or be subject to penalty for failure to withhold if:
1. The sales price of the California real property conveyed does NOT exceed one hundred thousand
dollars($100,000),OR
2. The seller executes a written certificate, under the penalty of perjury, certifying that the seller is a
corporation with a permanent place of business In California,OR
3. The seller,who is an individual,executes a written certificate,under the penalty of perjury,of any of the
following:
A. That the California real property being conveyed is the Seller's principal residence
(within the meaning of Section 121 of the Internal Revenue Code).
B. That the California real property being conveyed Is or will be exchanged for property of
like kind(within the meaning of Section 1031 of the Internal Revenue Code),but only to
the extent of the amount of gain not required to be recognized for California Income tax
purposes under Section 1031 of the Internal Revenue Code.
C. That the California real property has been compulsorily or Involuntarily converted
(within the meaning of Section 1033 of the Internal Revenue Code)and that the seller
Intends to acquire property similar or related In service or use so as to be eligible for
nonrecognition of gain for California Income tax purposes under Section 1033 of the
Internal Revenue Code.
D. That the California real property transaction will result In a loss for California Income tax
purposes.
The seller Is subject to penalty for knowingly filing a fraudulent certificate for the purpose of avoiding the withholding
requirement.
The California statutes referenced above include provisions which authorize the Franchise Tax Board to grant reduced
withholding and waivers from withholding on a case-by-case basis for corporations or other entities.
Additionally,under the federal'Foreign Investment In Real Property Tax Act"(FIRPTA)as amended and
related laws, a buyer may be required to withhold, and could be liable for, an additional tax equal to
TEN percent (10%) of the sales price of the real property being conveyed, in the case of a seller who
may be classified as a"foreign person"under Section 1445 of the Internal Revenue Code of 1986.
IRS Regulations state that a foreign seller lacking an Individual Taxpayer Identification Number(ITIN)
will automatically be subject to withholding upon the transfer of real property.A seller may apply for an
ITIN,however,it must be obtained prior to the time of transfer.
The Federal statute referenced above Includes provisions that authorize the IRS to grant reduced
withholding and waivers from withholding on a case-by-case basis. The parties herein may wish to
investigate these options with their own legal or financial advisors orthe Internal Revenue Service.
(Page One of Two)
CHICAGO TITLE COMPANY
78-000 Fred Waring Drive,SUITE 103,PALM DESERT,CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 052GS0042 Escrow Officer LINDA SALCIDO Date November 3, 2005
NOTICE OF TAX WITHHOLDING REQUIREMENTS
(Continued)
The escrow holder will not undertake to withhold or remit funds to any taxing authority, unless specifically instructed in
writing to do so.In the event escrow is so requested,appropriate mutual instructions will be required.
DUE TO THE COMPLEXITY OF THESE TAX LAWS, AND THE PENALTY PROVISIONS FOR
FAILURE TO WITHHOLD, IT IS RECOMMENDED THAT THE PARTIES TO THIS TRANSACTION
SHOULD SEEK THE PROFESSIONAL ADVICE AND COUNSEL OF AN ATTORNEY,
ACCOUNTANT OR FINANCIAL ADVISOR CONCERNING THE EFFECT OF THESE LAWS ON THIS
TRANSACTION AND SHOULD NOT ACT ON ANY STATEMENTS MADE OR OMITTED BY THE
ESCROW OR CLOSING OFFICER,
COMMUNITY REDEVELOPMENT AGENCY PARTNERS LAND DEVELOPMENT, LLC, AN
OF THE CITY OF PALM SPRINGS, CALIFORNIA ARKANSAS LIMITED LIABILITY CORPORATION
A PUBLIC BODY, CORP(O/(RRAA^T/E'�)AND POLITIC
ITS;
BY:
CHAIRMAN
ATTEST: BY:
ITS:
Ry
AS SECRETARY
j/ �'ali�D?MJi)VrIf�(?i L�7 U5,'a C'{,Dd2`FL, lI',J}rr:;'Iry C'ID's,L-'U,
APPROVED AS ORM;
WOODRUFF, S LIN & SMAR
BY:
DOUGLA C.
0 AGENCY COUNSEL
ESCROW INSTRUCTIONS1'7;oJlU";
TO: CHICAGO TITLE COMPANY, licensed by the California Department of Insurance
i
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 52050042A-K42 Escrow Officer LINDA SALCIDO Date October 25,2005
1• On or before the TIME LIMIT DATE of on or before November 7, 2005
2.
3. The undersigned hands you a"2005 Disposition and Development Agreement"dated October 25, 2005, hereinafter
4. the"Agreement", executed by"The Community Redevelopment Agency of the City of Palm Springs,as Seller and
5. "Partners Land Development, L-C,an Arkansas limited liability Corporation", as Buyer
6.
7. You are authorized to act in accordance with these instructions, and any amendments thereto.You are not to be
8. concerned with or liable for,any memoranda or other agreements between the parties as contained in the attached
9. document, except those relating to the transfer of title, prior to the close of escrow.the parties to this transaction wil
10. cause any balance of funds due and or documents required to be deposited with you.
11.
12. THE FOLLOWING ADDITIONAL TERMS AND CONDITIONS SHALL APPLY IN THIS ESCROW:
13.
14. The following supplemental escrow instructions, are added for clarification purposes and for the purposes of enabling
15. Chicago Title Company as Escrow Holder to utilize said agreement as your escrow instructions. In the event of a
16. conflict between the agreement and the escrow holder's general provisions the terms of the agreement shall control.
17.
18. THE COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF PALM SPRINGS hands you a Grant Deed
19, conveying the property described herein to vestee named below;
20.
21. "PARTNERS LAND DEVELOPMENT, LLC,AN ARKANSAS LIMITED LIABILITY CORPORATION" buyer (s) herein;
22.
23. which you are instructed to use when you can obtain a CLTA OWNERS POLICY and any policy required by buyer's
24. lender,(IF ANY)which policies of title insurance will contain the insuring clauses, exceptions, exclusions, provisions
25. and stipulations customarily contained in the printed provisions of such form with liability not less than$2,760,000.00
26 describing the land in the City of Palm Springs County of RIVERSIDE State of California, described as:
27.
28. APN 681-808-016, marked as parcel EXHIBIT A,which is attached hereto and incorporated herein by reference,
29. COVERING approximately 8.78 acres per survey,vacant land in Palm Springs, California.
30.
31. Subject to: 1. Real Property General and special taxes for fiscal year 2005/2006,and subsequent years, including
32. reassessments if any and including any special district levies or personal property taxes, payment for which are
33. included therein and collected therewith and improvement bond assessments,when applicable.
34.
35, 2. The Lien of Supplemental Taxes, if any, assessed pursuant to the provisions of Chapter 3.5 (commencing with
36. Section 75) of the Revenue and Taxation Code of the State of California.
37.
38. 3. Covenants, conditions, restrictions, rights of way, easements and reservations of record.
39. ADDITIONAL INSTRUCTIONS:
40.
41. A. The"Effective Date"as referenced in the Agreement is October 31, 2005.
42.
43. The date of the"Opening of Escrow"as referenced in the the Agreement is October 28,2005.
44.
45. The date referenced of the Agreement for Seller's delivery of the documents to Buyer being five (5) days after
46. the Acceptance Date is November 2,2005.
47.
48. Purchase price is TWO MILLION, SEVEN HUNDRED AND SIXTY THOUSAND DOLLARS ($2,760,000.00).
49.
EHSH-10/11/06bk (Page 1)
ESCROW INSTRUCTIONS (Continued)
TO: C;HICAGO TITLE COMPANY Escrow No. 52050042A-K42
Date October 25, 2005
1.
2. Buyer's deposit shall be invested by Escrow Holder in accordance with the provisions of the Agreement
3. only upon Escrow Holder's receipt from Buyer of the executed investment instructions and completed and executed
4. Form W-9.
5.
6. The"Close of Escrow"as referenced in the Agreement shall be on or before NOVEMBER 7, 2005,
7.
8. SUBJECT TO AND CONTINGENT UPON;
9. This escrow is to close concurrent with Sellers' Escrow#52050042,with Chicago Title Escrow Company.
10.
11. B. Pursuant to the provisions of Section 411 of the Agreement, Closing costs shall be allocated between Buyer
12. and Seller per their individual estimated closings statements which will be approved prior to the close of escrow.
13. Seller and Buyer shall each pay$1,500.00 representing one-half of the Escrow Fee.
14.
15. In the event the real property taxes have not been segregated for subject property, Escrow Holder shall be
16 provided with specific instructions from Seller and Buyer as to the amount to be used for the proration of taxes as
17. referenced in the Agreement. Further, Escrow Holder shall be notified in writing by Seller and Buyer of any other
18 prorations to be made through the closing of this escrow.
19.
20. Parties shall notify escrow holder, in writing, prior to close of escrow, if Parties elects to effect a tax deferred
21. exchange through this escrow. In the event escrow holder does not receive written notification from Buyer or Seller,
22. escrow holder will close this escrow without any provisions for an exchange for the benefit of either Buyer or Seller.
23.
24. C. Buyer shall furnish Escrow Holder with a completed Preliminary Change of Ownership Report required by
25. Assembly bill 3121, State of California. In the event said report is not handed Escrow Holder for submission to the
26. County Recorder upon recording the Grant Deed, Buyer herein acknowledges that the County shall access an
27. additional$20.00 feet for recording Grand Deed and Escrow Holder shall debit the Buyer for same. Escrow Holder
28. shall be relieved of all responsibility and or liability in connection with the accuracy, completeness or correctness
29.
30. Parties to this transaction are aware and understand that as a result of the passage of the Tax Reform Act of
31. 19815 which added Section 6045(e)to the Internal Revenue Code,the closing of this transaction will be delayed in the
32. event Seller(s)to this escrow should refuse to remit to Escrow Agent/Holder, prior to close of escrow, "Seller's
33. Certification for Compliance with Real Estate Reporting Requirements,"with all necessary information fully completed
34. and duly executed.
35.
36. Escrow Holder shall not be concerned with, or liable for payment, adjustment or proration of, Supplemental
37. Taxes assessed pursuant to Chapter 498, Statutes of 1983, State of California, unless specifically reflected on the Tax
36. Assessor's rolls. All assessments not shown on the tax rolls are to be adjusted outside of escrow.The title policy will
39. contain an exception for the lien of any assessmentof Supplemental Taxes assessed pursuant to Chapter 498,
40. Statutes of 1983.
41.
42. THIS ACCEPTANCE OF AN AGENCY AS ESCROW HOLDER IS FURTHER CONDITIONED ON THE FOLLOWING:
43.
44. 1. ESCROW HOLDER'S GENERAL PROVISIONS WHICH ARE INCORPORATED HEREIN BY THIS REFERENCE
45. AND ATTACHED HERETO;
46.
47. 2. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE MUTUAL INSTRUCTIONS IN THE EVENT THIS
BEIICSH --10/14/96bk
(Page 2)
ESCROW INSTRUCTIONS (Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A-K42
Date October 25, 2005
1. ESCROW IS TERMINATED, AND UPON ANY SUCH TERMINATION TITLE AND/OR ESCROW CHARGES FOR
2. SERVICES RENDERED MAY BE DUE;
3.
4. 3. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE MUTUAL DISBURSEMENT INSTRUCTIONS IN THE
5. EVENT SUCH DISBURSEMENT IS TO BE MADE PURSUANT TO EARLY RELEASE PROVISIONS,THE
6. TERMINATION OF ESCROW OR A LIQUIDATED DAMAGE PROVISION CONTAINED IN SAID AGREEMENT;
7.
6• 4. ESCROW HOLDER RESERVES THE RIGHT TO REQUIRE THE PARTIES TO DELIVER WRITTEN APPROVAL,
9. SATISFACTION OR WAIVER OF ALL CONDITIONS PRECEDENT TO (1) ANY RELEASE OF FUNDS AND/OR (2)
10. CLOSE OF THIS ESCROW;
11.
12. 5. ANY PROVISIONS FOR RELEASE (PAYMENT) OF FUNDS PRIOR TO THE CLOSE OF ESCROW IS MADE WITH
13. THE KNOWLEDGE OF THE CONDITION(S) OF ESCROW AND TITLE TO THE PROPERTY THAT IS THE SUBJECT
14. OF THIS ESCROW. ESCROW HOLDER SHALL HAVE NO RESPONSIBILITY OR LIABILITY EXCEPT COMPLIANCE
15. WITH ANY SUCH RELEASE (PAYMENT) INSTRUCTION AND ANY PAYMENT SO MADE IS WITHOUT RECOURSE
16. UPON CHICAGO TITLE COMPANY;
17.
18. 6. IF:YOU WANT TO WIRE TRANSFER FUNDS TO CHICAGO TITLE COMPANY, PLEASE USE THE FOLLOWING
19. WIRING INSTRUCTIONS: BANK: UNION BANK
20. 2001 MICHELSON DRIVE
21. IRVINE, CALIFORNIA 92714
22. BANK ABA: 122 000 496
23. ACCOUNT NAME: CHICAGO TITLE C&I ESCROW ACCOUNT
24. ACCOUNT NO: 9120052850
25. FOR CREDIT TO: ESCROW NO.52050042A-K42
26. ATTN: LINDA SALCIDO
27. PLEASE NOTIFY ESCROW HOLDER WHEN YOU WIRE FUNDS.
26.
29. Parties acknowledge that depending on the type(commercial, residental) and Location (city) of real property
30, involved in this Escrow,there may be disclosure(s) as well as civil ordinance requiement(s)that would affect the
31. transfer of the real property.The Buyer and Sellers signature on these instructions shall be deemed evidence by
32. escrow holder that Buyer and Seller have obtained counsel, are aware of any disclosures/civil ordinance
33. requirements will comply with same outside of escrow. Unless otherwise instructed in writing to the contrary
34. elsewhere herein, Escrow Holder shall have no responsibilities or liabilities in connnection herewith except as
35. provided under the designation agreement.
36,
37. Buyer and Seller acknowledge that they have been advised to seek the counsel of their own Attorney,
3s. Accountant or other advisor and are relying solely on their inquiry and information.There are no Real Estate Agents in
39. connection with this escrow. Buyer and Seller agree that Escrow Holder is not to be held liable, responsible or
40. concerned with any such requirements or regulations, except as set forth in these instructions.
41.
42. Escrow holder shall not be liable or responsible for the content or enforceability of any document(s)drawn outside of
43. escrow. Escrow holder's only responsibility in connection with said document(s) is to deliver and/or to record same
44. as per the parties instructions.
45.
46. End of Instructions.
47.
BEIICSH--10/14/86bk
(Page 3)
GENERAL PROVISIONS
TO: C;HICAGO TITLE COMPANY Escrow No. 52050042A - K42
Date October 25, 2005
1. Time is of the essence of these instructions. If this escrow is not in a condition to close by the TIME LIMIT DATE as provided for herein and
written demand for cancellation is received by you from any principal to this escrow after said date,you shall act in accordance with paragraph
7 of the General Provisions. If no conflicting instruction or demand for cancellation is made,you will proceed to close this escrow when the
principals have complied with the escrow instructions. In the event one or more of the General Provisions are held to be invalid, those
remaining will continue to be operative.Any amendments of or supplements to any instructions affecting escrow must be in writing.You are
authorized to order demands for, and pay at the close of escrow any encumbrances of record necessary to place title in the condition called
for without further authorization.You are further authorized, prior to the close of escrow,to pay from funds on deposit any fees necessary to
obtain any demand and/or report as may be required in this escrow and at the close of escrow charge the parties as appropriate. The
principals will hand you any funds and instruments required from each respectively to complete this escrow. Interest on any new financing
may begin to accrue on the date loan funds/proceeds are disbursed by the new lender,and borrower agrees to pay same in accordance with
lender's instructions.
2. You are instructed to deliver and/or record all documents and disburse all funds when you can comply with these instructions and issue any
title insurance policy as called for herein. These instructions, together with any amendments and/or supplements, may be executed in
counterparts and together shall constitute one and the same document. If these instructions relate to a sale, and if there is no other written
agreement between the parties pertaining thereto, buyer agrees to buy and seller agrees to sell upon the terms and conditions hereof. All
documents, balances and statements due the undersigned are to be mailed to the respective addresses shown herein, unless otherwise
directed. In the event that any party to this escrow utilizes facsimile transmitted signed documents, all parties hereby agree to accept and
hereby instruct the escrow holder to rely upon such documents as if they bore original signatures.Buyer and seller further acknowledge that
any documents to be recorded bearing non original (facsimile)signatures will not be accepted for recording by the county recorder.
3. The phrase"close of escrow"(or COE)as used in this escrow means the date on which documents are recorded,unless otherwise specified.
4. Assume a 3D day month in any proration herein provided, and unless otherwise instructed, you are to use the information contained in the
latest available tax statement, including any supplemental taxes of record, rental statement as provided by seller and beneficiary's or
association statements delivered into escrow for proration purposes.
5. Upon close of escrow you are instructed to charge our respective accounts the costs attributable to each,including but not limited to costs as
provided for herein and/or in accordance with our respective estimated statements attached hereto and made a part hereof.
6. Recordation of any instruments delivered through this escrow,if necessary or proper for the issuance of the policy of title insurance called for,
is authorized.No examination or insurance as to the amount or payment of personal property taxes is required unless specifically requested.
7. If demand to cancel is submitted after the Time Limit Date,any principal so requesting you to cancel this escrow shall file notice of demand to
cancel in your office in writing.You shall within three (3)working days thereafter mail by certified mail one copy of such notice to each of the
other principals at the address stated in this escrow. Unless written objection thereto is filed in your office by a principal within fifteen (15)
calendar days after the date of such mailing,you are instructed to cancel this escrow. If this is a sale escrow,you may return the lender's
papers and/or funds upon lender's demand.
B. In the event that this escrow is canceled, any fees or charges due Chicago Title Company including cancellation fees and any expenditures
incurred or authorized shall be paid from funds on deposit unless otherwise specifically agreed to or determined by a court of competent
jurisdiction. Upon payment thereof, return documents and monies to the respective parties depositing same,or as ordered by the court,and
void any executed instruments.
9. If there is no written activity by a principal to this escrow within any six-month period after the Time Limit Date set forth herein, Chicago Title
Company may, at its option,terminate its agency obligation and cancel this escrow,returning all documents, monies or other items held,to
the respective parties entitled thereto,less any fees and charges as provided herein.
10. If,'for any reason,funds are retained or remain in escrow after the closing date,you may deduct therefrom a reasonable charge as custodian,
of not less than$25.00 per month,unless otherwise specified.
(Continued)
BEIGPiSH-1e/23/53-Ire
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A - K42
Date October 25, 2005
11. In the event that you should receive or become aware of conflicting demands or claims with respect to this escrow, or the rights of any of the
parties hereto,or any money or property deposited herein,you shall have the absolute right at your option to discontinue any or all further acts
until such conflict is resolved to your satisfaction.
12. In the event that any Offer to Purchase,Deposit Receipt,or any other form of Purchase Agreement is deposited in this escrow,you,as escrow
holder,are not to be concerned with the terms of such document and are relieved of all responsibility in connection therewith.The foregoing is
not applicable in any transaction in which Chicago Title has specifically agreed to accept an Offer to Purchase,Deposit Receipt or other form
of Purchase Agreement as escrow instructions. In any event,you are not to be concerned or liable for items designated as"memoranda"in
these escrow instructions nor with any other agreement or contract between the parties.
13. The parties hereto,by execution of these instructions acknowledge that the escrow holder assumes no responsibility or liability whatsoever for
the supervision of any act or the performance of any condition which is a condition subsequent to the closing of this escrow.
14. In the absence of instructions to the contrary, you are hereby authorized to utilize wire services, overnight, next day, or other expedited
delivery services(as opposed to the regular U.S.Mail)and to charge the respective party's account accordingly.
15. Concerning any real property involved in this transaction you are released from and shall have no liability, obligation or responsibility with
respect to (a)withholding of funds pursuant to Section 1445 of the Internal Revenue Code of 1986 as amended,and to Sections 18662 and
18668 of the California Revenue and Taxation Code, (b) advising the parties as to the requirements of said Section 1445, (c) determining
whether the transferor is a foreign person or a non-resident under such Section, nor (d) obtaining a non foreign affidavit or other exemption
from withholding under said Sections nor otherwise making any inquiry concerning compliance with such Sections by any parry to the
transaction.
16. If you pay a demand to pay in full a revolving line of credit or equityline loan,you are hereby instructed on my behalf and for my benefit,to
request that the lender issuing said demand cancel said revolving line or equityline of credit.
17. You are authorized to furnish to any affiliate of Chicago Title Company, any attorney, broker or lender identified with this transaction or any
one acting on behalf of such lender any information,instructions,amendments,statements,or notices of cancellation given in connection with
this escrow. If any check submitted to escrow is dishonored when presented for payment,you are authorized to notify all principals and/or
their respective agents of such non payment.
18. All notices, change of instructions, communications and documents are to be delivered in writing to the office of Chicago Title Company,as
set forth herein.
19, All funds received in this escrow shall be deposited with other escrow funds in one or more non-interest bearing demand accounts of Chicago
Title Company in any state or federal bank or any state or federal savings and loan association ("the depository institutions") and may be
transferred to any other such accounts.
The:parties to this escrow acknowledge that while these accounts do not bear interest,because of these and other banking relationships with
the depository institutions, Chicago Title Company and its affiliates may receive from some of the depository institutions an array of banking
services,accommodations or other benefits.Chicago Title Company and its affiliates also may elect to enter into other business transactions
with or obtain loans for investment or other purposes from some of the depository institutions.All of such services,accommodations and other
benefits shall accrue, directly or indirectly, to Chicago Title Company and its affiliates and they shall have no obligation to account to the
parties to this escrow for the value of such services, accommodations or other benefits. All disbursements shall be made by Chicago Title
Company check,unless otherwise instructed.
Chicago Title Company shall not be responsible for any delay in closing if funds received by escrow are not available for immediate
withdrawal. Chicago Title Company may, at its option, require concurrent instructions from all principals prior to release of any funds on
deposit in this escrow.
20.
You are authorized to destroy or otherwise dispose of any and all documents, papers, instructions, correspondence and other material
pertaining to this escrow at the expiration of six (6)years from the close of escrow or cancellation thereof,without liability and without further
notice.
(Continued)
BEIIBP23H-10/23/93-Irc
GENERAL PROVISIONS
(Continued)
TO: CHICAGO TITLE COMPANY Escrow No. 52050042A - K42
Data October 25, 2005
IMPORTANT NOTICE
Except for wire transfers,funds remitted to this escrow are subject to availability requirements imposed by Section 12413.1 of the California
Insurance Code, CASHIER'S, CERTIFIED or TELLER'S checks, payable to CHICAGO TITLE COMPANY are generally available for
disbursement on the next business day following the date of deposit.
Other forms of payment may cause extended delays in the closing of your transaction pursuant to the requirements imposed by State Law.
(Wire transfer information available upon request)
ALL PARTIES TO THIS ESCROW ACKNOWLEDGE THAT CHICAGO TITLE COMPANY DOES NOT PROVIDE
LEGAL ADVICE NOR HAS IT MADE ANY INVESTIGATION, REPRESENTATIONS OR ASSURANCES
WHATSOEVER REGARDING THE LEGAL ASPECTS OR COMPLIANCE OF THIS TRANSACTION WITH ANY
TAX, SECURITIES OR ANY OTHER STATE OR FEDERAL LAWS. IT IS RECOMMENDED THAT THE PARTIES
OBTAIN INDEPENDENT LEGAL COUNSEL AS TO SUCH MATTERS.
THE FOREGOING ESCROW INSTRUCTIONS AND GENERAL PROVISIONS HAVE BEEN READ AND ARE
UNDERSTOOD AND AGREED TO BY EACH OF THE UNDERSIGNED.
COMMUNITY REDEVELOPMENT AGENCY PARTNERS LAND DEVELOPMENT, LLC, AN
OF THE CITY OF PALM SPRINGS, CALIFORNIA ARKANSAS LIMITED LIABILITY CORPORATION
A PUBLIC BODY, CORPORATE AND POLITIC
BY:
,a� ITS;
BY•`��.1 �L�ir
CHAIRMAN
AT'T,EST-:) -- _ BY :
ITS:
//
AS51 TANT SECRETARY
\*
/APPROVD TO FOR �
WOODRU RADLINSMART
BY:
DOUG S C I HUL1,AND, AGENCY COUNSEL
Current Address: Current Address:
Telephone: Telephone:
BEIGP33H-10/23/93-Irc
AMENDMENT TO ESCROW INSTRUCTIONS
TO: CHICAGO TITLE COMPANY, licensed by the California Department of Insurance
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax (760)772-8463
Escrow No. 52050042A-K42 Escrow Officer LINDA SALCIDO Date November 2, 2005
Property: vacant land APN 681-070-016, Palm Springs, CALIFORNIA
1. Your original escrow instructions dated OCTOBER 25, 2005 and any amendments and/or supplements thereto, are
2. hereby amended and/or supplemented as set forth herein:
3.
4. Escrow Holder is auhthorized and instructed to transfer funds due the undersigned seller to Chicago Escrow
5. company Escrow#52050042 at close of escrow. Seller will provide escrow holder with instructions for remaining
6. proceeds in writing.
7.
B.
9.
10. ALL.OTHER TERMS AND CONDITIONS ARE TO REMAIN THE SAME.
11.
12. COMMUNITY REDEVELOPMENT AGENCY
13. OF THE CITY OF PALM SPRINGS, CALIFORNIA
14. A PUBLIC BODY, CORPORATE AND POLITIC
15.
1s.
17. BY:
18. CHAIRMAN `
19 ATTEST: fi
20.
21. 7) 7
22 ASE�I 7A.NT SECRETARY
23: �/ -
24./�
25 /APPROVED A -70 FORM;
26. WOO DR FF PRADLIN &SjUTART
27. f'
28. BY:
29. DOU S OLLAND,AISENCY COUNSEL
30.
31.
32.
33.
34.
35,
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
AESCROW 01/13/97bk (Page 1)
AMENDMENT TO ESCROW INSTRUCTIONS
,,-_,
B kl��11111'
TO: CHICAGO TITLE COMPANY, licensed by the California Department of Insurance
i
78-000 Fred Waring Drive, SUITE 103, PALM DESERT, CALIFORNIA 92211
(760)345-0750 Fax(760)772-8463
Escrow No. 52050042A-K42 Escrow Officer LINDA SALCIDO Date November 2,2005
Property: vacant land APN 681-070-016, Palm Springs, CALIFORNIA
1. Your original escrow instructions dated October 25,2005 and any amendments and/or supplements thereto, are
2. herelby amended and/or supplemented as set forth herein:
3.
4. Buyers and Sellers acknowledge and agree that,with the exception of receipt by Escrow Holder of funds and
5. documents required pursuant to the agreements as amended herein, all conditions to the close of escrow have been
6. satisfied and/or waived.
7.
e• ALL OTHER TERMS AND CONDITIONS ARE TO REMAIN THE SAME.
s.
10.
11,
12. COMMUNITY REDEVELOPMENT AGENCY
13. OF THE CITY OF PALM SPRINGS, CALIFORNIA
14. A PUBLIC BODY, CORPORATE AND POLITIC
15.
16. l
17. BY: _L072 /p�Ir
18, CHAIRMAN
19. n17Ei
20.
22. ;A,S' 188TANT SECRETARY UI
23
24
APPROVED 6VOFORM;
26. WOOD7EPO/ Od/
PRADLIN MART
27.
ze. BY:
29. DOU lA/ . HOLLAND, ENCY COUNSEL
30.
31. PARTNERS LAND DEVELOPMENT, LLC,AN ARKANSAS LIMITED LIABILITY CORPORATION
32.
-93. BY:
34. ITS;_
35.
36.
37. BY:
38. ITS:_
39.
40.
41.
42.
43.
44.
45.
46,
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
AESC2--01/13/e7bN (Page 1)
CHICAGO TITLE COMPANY
ESTIMATED SELLER'S SETTLEMENT STATEMENT PAGE: 01
ESCROW NUMBER: 05740-52050042A-001 ORDER NUMBER: 05740-52050042A
CLOSING DATE: 11/07/05 CLOSER: LINDA SALCIDO
BUYER:
SELLER:
PROPERTY: vacant land APN 681-070-016, Palm Springs, CALIFORNIA
CHARGE SELLER CREDIT SELLER
Sales Price $ $ 2,760, 000.00
FUNDS TRANSFERED TO 5205042 830, 000.00
Settlement or Closing Fee To CHICAGO TITLE 1, 500.00
Document Preparation To CHICAGO TITLE 25 .00
Recording Fees 100.00
City/County Tax/Stamps 1,518 .00
Tax hold 2004/2005 2nd half taxes plus penalties 10,724.69
natural hazards 50.00
Funds Due To Seller At Closing 1, 916, 082.31
-------------- --------------
TOTALS $ 2,760, 000.00 $ 2,760, 000 . 00
-------------- --------------
-------------- --------------
COMMUNITY REDEVELOPMENT AGENCY
OF THE CITY OF PALM SPRINGS, CALIFORNIA
A PUBLIC BODY, CORPORATE AND POLITIC
BY:
CHAIRMAN `l
ATTEST:
B3t tivV � G-il
/S''SY7S T SECRETARY
F�APPROVED A �0 FORM;
WOODRU �F', RAD IN & SMART
BY:
DOUGLAS OLLAND, AGENCY COUNSEL
DATE: 11/02/05 17:08 :3