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Home My WebLink AboutRES 1988-24 - Board RESOLUTION NO. 8824 OF THE TRUCKEE DONNER PUBLIC UTILITY DISTRICT ACCEPTING REAL ESTATE PURCHASE CONTRACT AND RECEIPT FOR DEPOSIT ON AP118-570-10 WHEREAS, the Truckee Donner Public Utility District made the finding that the 1.9 acre parcel located on the corner of Highway 89 and Donner Pass Road is unnecessary for District use and declared the property surplus; and WHEREAS, Richard G. Burge, has offered to purchase AP#18-570-10 for the amount of $375 ,000 in accordance with the conditions set forth in the Real Estate Purchase Contract and Receipt for Deposit dated July 8, 1988, copy of which is attached hereto; NOW, THEREFORE, BE IT RESOLVED by the Board of. Directors of the Truckee Donner Public Utility District that the appropriate documents to consummate sale of AP#18-570-10 be prepared. PASSED AND ADOPTED by the Board of Directors of the Truckee Donner Public Utility District at a regular meeting of the Board duly called and held within said District on the 15th day of August 1988 by the following roll call vote: AYES: Aguera, Sutton, White and Corbett. NOES: None. ABSENT: Maass. TRUCKE NNER PUBLIC-UTILITY DISTRICT By J7 L. Corbett, President ATTEST: Susan M. Craig, Deputy Di trict Clerk smc/2a.93 • REAL ESTATE PURCHASE CONTRACT AND RECEIPT FOR DEPOSIT IL14 THIS IS MORE THAN A RECEIPT FOR MONEY.IT IS INTENDED TO BE A LEGALLY BINDING CONTRACT.READ IT CAREFULLY. CALIFORNIA ASSOCIATION OF REALTORS! LCARI STANDARD FORM Tahoe City .California. July 8 ,1 g 88 Received from Richard G. Burge, a marriedman herein called Buyer,the sum of Five thousand Dollars S 5,000,00 evidenced by cash❑,cashier:s check l_i,or --- ,personal check❑ payable to Western Title Company to be held uncashed until acceptance of this offer,as deposit on account of purchase price of Three hundred seventy five thousand ----------------------------- Dollars 375,000.00 for the purchase of property,situated in Truckee County Of Nevada ,California, describedasfollows: #18-570-10, 1.9 Acres at S.W. corner of Hwy 89 & Donner Pass Rd 1. Buyer will deposit in escrow with Western Title the balance of purchase price as follows: 1. Purchase price to be $375,000.00 2. Financing: $75 000.00 down payment including deposit of $10,000 00 Balance to be carried by seller as follows. 10% for first 12 months, then adjusted every 12 months thereafter t rate of Prime Rate 2lus two 2 percent, with a cap of 3 and a m'n'mum ._a_ the rzi/nnind of this a reem nt by all ar es to conclude an agreement to purchase the adjacent property from Nevada County Purchase of pr9perty is contingent upon concluding this purchase agreement with During the above referebted"27n d buyer will proposti and sub it fof aDDfoVil , j site development plan to all agencies with jurisdiction over a shopping center development. . TM offer is contingent upon approval by all h agencies. G S. Buyer to have 30 days to approve preliminary title report 6. The above deposit shall be returned to buyer along with any accrued interest, if all terms of this contract can not be satisfied within the abwe 270 days Set forth above any terms and conditions of a factual nature applicable to this sale,such as financing,prior sale of other property, the matter of structural pest control inspection,repairs and personal property to be included in the sale. 2 Deposit will ❑will not❑ be increased by S to S within days of acceptance of this offer. 3. Buyer does ❑does not❑ intend to occupy subject property as his residence. 4. The following supplements are incorporated as part of this agreement: Other ❑ Structural Pest Contro Cenificatior Agreement 13 Occupancy Agreement ❑ ❑ r Specia;Studies Zone Disclosure LJ VA Amendment ❑ ❑ Hood Insurance Disclosure ❑ FHA Amendment ❑ S. Buyer and Seller shall deliver signed instructions to the escrow holder within 10 days from Seller's acceptance which shall pr i hin days from Seller's accepta Escro a paid as follows: All 6. Buyer getter ack edg ipt of a copy of this page,which c still es Page 1 of Pages. Buye Seller ' 8u er 6124VN�y l Seller too-- A REAL ESTA ROKER IS THE PERSON OU ED TO ADVISE ON REAL ESTATE.IF YOU DESIRE LEGAL ADVICE CONSULT YOUR ATTORNEY. THIS STANDARDIZED DOCUMENT FOR USE IN SIMPLE TRANSACTIONS HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS,IN FORM ONLY. NO REPRESENTATION IS MADE AS TO APPRO'<'AL OF SUPPLEMENTS NOT PUBLISHED BY CAR THE LEu4L VALIDITY OF ANY PROVISION,OR THE ADEOUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION IT SHOULD N3i BE USED IN COMPLEX TRANSACTIONS OR WITH EXTENSIVE RIDERS OR ADDITIONS. This form is aval,aole to,use Dy Ine entire rea estate rnoLsiry Tne use o'trns fo rc is not mtendec tc ioentit� Ine use,as s REALTOR*.REALTOR1, is a reg!stereo collective membership mart whicn may be useV only by rea estate iicensees wnc are members of the NATIONAL ASSOCIATION OF REAL T ORS`and who subscribe to im Code o'Ethics. OFFICE USE ONLY Copyrights 198E CALI=ORN,A ASSOCIATION D'RE4L ORS• Reciewec by BroKer or Designee 525 SDuth Vrrgi Avenue Los Anoeles Caidorn:a PD023 ...: . (Revised 1978.'954 FORtO D-1 1-1 Date o••c• M . SF-sec-o5 REAL ESTATE PURCHASE CONTRACT AND RECEIPT FOR DEPOSIT The following terns and conditions are hereby incorporated in and made a part of Buyer's Offer 7. Title is to be free of liens,encumbrances,easements,restrictions.rights and conditions of record or known to Seller,other than the following:(1)Current property taxes.(b)covenants,conditions,restrictions,and public utility easements of record,if any,provided the same do �,.. not adversely affect the continued use of the property for the purposes for which it is presently being used.unless reasonab{ disapproved by Buyer in writing within- --30 days of receipt of a4cyrrent preliminary title report furnished at cense, and(c) -------------- Seller shall furnish Buyer at nse a standard California Land Title Ass -Western Title ociate Ii issued by Company,showing title vested in Buyer subject only to the above. If Seller is unwilling or unable to eliminate any title matter disapproved by Bvyer as above,Seller may terminate this agreement It Seller fails to deliver title as above.Buyer may terminate this agreement; in either case,the deposit shall be returned to Buyer. 8. Property taxes,premiums on insurance acceptable to Buyer,rents,interest,and N/A shall be pro-rated as of(a)the date of recordation of deed:or(b) --- Any bond or assess- ment which is a lien shall bed—bySeller .Transfer taxes,i1 any,shall be paid by Se 1 ker 9. Possession shall be drlvered to Buyer(a)on close of escrow,or(b) not later than -- days after close of escrow or(c) ------ 10. Unless otherwise designated in the escrow instructions of Buyer,title shall vest as follows: to he determi n d-- rturi nn Pcrrnrr period r - (The manner of taking title may have significant legal and tax consequences.Therefore,give this matter serious consideration.) 11. If Broker is a participant of a Board multiple listing service("MLS"),the Broker is authorized to report the sale,its price,terms,and financing for the information,publication,dissemination,and use of the authorized Board members. 12. If Buyer fails to complete said purchase as herein provided by reason of any default of Buyer,Seller shall be released from his obligation to sell the property to Buyer and may proceed against Buyer upon any claim or remedy _ which he may have in law or equity;provided, however, that by placing their initials here-Buyer: ( ) Seller. ( ) agree that Seller shall retain the deposit as his liquidated damages'tf3heciescribed property is a dwelling with no more than four units,one of which the Buyer intends to occupy as his residence,Seller shall retain as liquidated damages the deposit actually paid,Oran amount therefrom,not more than 3%of the purchase price and promptly return any excess to Buyer. 13. If the only controversy or claim between the parties arises out of or relates to the disposition of the Buyer's deposit,such controversy or claim shall at the election of the parties be decided by arbitration.Such arbitration shall be determined in accordance with the Rules of the Aqn encan Arbitration Association,and judgment upon the award rendered by the Arbitrator(s)may be entered in any court having jurisdiction `thereof.The provisions of Code of Civil Procedure Section 1283.05 shall be applicable to such arbitration. In any action or proceeding arising out of this agreement,the prevailing party shall be entitled to reasonable attorney's fees and costs. 15. Time is of the essence.All modification or extensions shall be in writing signed by the parties. 16. This constitutes an offer to purchase the described property.Unless acceptance is signed by Seller and the ' d copy delivered to Buyer,in person or by mail to the address below,within days,this offe qe deem d vok the deposit shall be returned.Buyer ackno ges receipt f a copy hereof. / G Real Estate er Buyer By Buyer Address e / �a, yve r-. Address Telephone ��l — STs 7— 3 �— Telephone ACCEPTANCE The un signeXd Seller ccepts n a Tees to sell the ro the abov rms and cord' ors.Seller has employed as Broker(s)and agrees to pay for se ices the su of ($ - Dollars ),payable as follows:(a)On recordation of the deed or other evidence of title,or(b) if completion of sale is prevented by default of Seller,upon Seller's default or(c)if completion of sale is prevented by default of Buyer,only i1 and when Seller collects damages from Buyer,by suitg;n4herwise and then in an amount not less than one-half of the damages recovered,but not to exceed the above f�,after first deduafing t31e arg escro)y expenses and the expenses of collection,it any.in any action between Broker and Seller arising outs agfeem�nt,tM�e prevailing Dirty shalt be entitled to reasonable ariorney's fees and costs.The undersigned acknowledges receipt of a copy and authorizes Brokers)to deliver a signed copy to Buyer. ..j� Dated Telephone Seller r'• �C� �?� Address slier Broker(s)agree to the foregoing. Broker Broker Dated--.By Dated By OFFICE USE ONLY Copyrights.986.CALIFORNIA ASSOCIATION OF REALTORS" Reviewer by Broker or Designee Sn South Virgil Avenue,Los Angeles.Caidorma 90020 lRevil ad 19641 Date o»onuw _. FORM D-11-2 ___