Document:

Exhibit 4.7

UNIT PURCHASE OPTION CLARIFICATION
AGREEMENT

This Unit Purchase Option Clarification Agreement
(this “Agreement”), dated September 20, 2006 is to amend the Unit Purchase
Option, dated as of August 15, 2005 (the “Option”), issued by Stone Arcade
Acquisition Corporation, a Delaware corporation, with offices at c/o
Stone-Kaplan Investments, LLC, One Northfield Plaza, Suite 480,
Northfield, Illinois 60093 (“Company”), to Morgan Joseph &
Co. Inc., with offices at 600 Fifth Avenue, 19th Floor, New York, New York 10020 (“Option
Holder”).

WHEREAS, as a
result of certain questions that have arisen regarding the accounting treatment
applicable to the Option, the parties hereto deem it necessary and desirable to
amend the Option to clarify that the Option Holder does not have the right, and
did not have the right at the time of issuance of the Option, to receive a net
cash settlement in the event the Company does not maintain a current prospectus
relating to the units, common stock and warrants issuable upon exercise of the
Option at the time such Option is exercisable.

NOW, THEREFORE, in
consideration of the mutual agreements contained herein and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, and intending to be legally bound hereby, the parties hereto
agree to amend the Option as set forth herein.

1.             Option   The undersigned hereby agree that
the Option is hereby amended by adding the following as Section 2.1.1 to
the Option:

“2.1.1      No Exercise of Purchase Option if a
Registration Statement is not Effective.    Notwithstanding
anything herein to the contrary, the Company shall not be obligated to deliver
any securities pursuant to the exercise of this Purchase Option unless
(i) a registration statement under the Act with respect to the Units,
Warrants and Common Stock issuable upon such exercise is effective, or
(ii) in the opinion of counsel to the Company or counsel to the Holder
reasonably satisfactory to the Company, the exercise of this Purchase Option is
exempt from the registration requirements of the Act and such securities are
qualified for sale or exempt from qualification under applicable securities
laws of the states or other jurisdictions in which the registered holders
reside. This Purchase Option may not be exercised by, or securities issued to,
any registered holder in any state in which such exercise or issuance would be
unlawful. The Holders are not, and at the time of the initial issuance of this
Purchase Option were not, entitled to receive a net-cash settlement or other
consideration in lieu of physical settlement in securities if the securities
underlying this Purchase Option are not covered by an effective registration
statement.”

2.             Miscellaneous.

                a.             Governing
Law; Jurisdiction.    The validity,
interpretation, and performance of this Agreement shall be governed in all
respects by the laws of the State of New York, without giving effect to
conflict of laws. The Company hereby agrees that any action, proceeding or
claim against it arising out of or relating in any way to this Agreement shall
be brought and enforced in the courts of the State of New York or the United
States District Court for the Southern District of New York, and irrevocably
submits to such jurisdiction, which jurisdiction shall be exclusive. The
Company hereby waives any objection to such exclusive jurisdiction and that
such courts represent an inconvenient forum. Any such process or summons to be
served upon the Company may be served by transmitting a copy thereof by registered
or certified mail, return receipt requested, postage prepaid, addressed to it
in care of the address set forth above or such other address as the undersigned
shall furnish in writing to the other. Such mailing shall be deemed personal
service and shall be legal and binding upon the Company in any action,
proceeding or claim.

                b.             Binding
Effect.    This Agreement shall be binding upon
and inure to the benefit of the parties hereto and to their respective heirs,
legal representatives, successors and assigns.

                c.             Entire
Agreement.    This Agreement sets forth the
entire agreement and understanding between the parties as to the subject matter
thereof and merges and supersedes all prior

 

 

discussions, agreements and understandings of any and
every nature among them. Except as set forth in this Agreement, provisions of
the original Option which are not inconsistent with this Agreement shall remain
in full force and effect. This Agreement may be executed in counterparts.

                d.             Severability.    This
Agreement shall be deemed severable, and the invalidity or unenforceability of
any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof. Furthermore, in lieu
of any such invalid or unenforceable term or provision, the parties hereto
intend that there shall be added as a part of this Agreement a provision as
similar in terms to such invalid or unenforceable provision as may be possible
and be valid and enforceable

IN
WITNESS WHEREOF, the parties hereto have executed this Unit Purchase Option
Clarification Agreement as of the date first written above. 

	
  

  	
   

  	
  STONE ARCADE ACQUISITION CORPORATION

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/  ROGER W. STONE

  
	
   

  	
   

  	
   

  	
   

  	
  Name:  Roger W. Stone

  
	
   

  	
   

  	
   

  	
   

  	
  Title:    Chairman and CEO

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MORGAN JOSEPH & CO. INC.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  	
  /s/  MARY L. MALANOSKI

  
	
   

  	
   

  	
   

  	
   

  	
  Name:  Mary L. Malanoski

  
	
   

  	
   

  	
   

  	
   

  	
  Title:    Executive Vice
  PresidentEXHIBIT 10.1

COMMERCIAL PACIFIC REAL ESTATE

466 W. Fallbrook Avenue,
Suite 109

Fresno, CA 93711

(559) 436-6660 Fax (559) 436-4610

July
10, 2006

Ms.
Davina Palazzo

Coast National Bank

486 Marsh Street, Suite A San Luis Obispo, CA 93401

Re:           Office Space/Fresno, CA Dear Ms. Palazzo:

In
regard to Coast National Bank (CNB) procuring temporary office space in Fresno,
California, Commercial Pacific has agreed with your employee, Mr. Patrick
Durkin to enter into a month-to-­month office use agreement.

The terms of the agreement are as
follows:

1.                                       Space: One individual
private office within the rental space of Commercial Pacific’s Fresno office

2.                                       Location: 466 W. Fallbrook Ave., #109,
Fresno, CA 93711

3.                                       Term: Month-to-month but in no event to be
less than six (6) months in duration with the opportunity to extend term with
the consent of both parties.

4.                                       Rent:    The rental rate
shall be $1,300.00 per month in advance with zero deposit.

5.                                       Other Matters: Coast
National Bank shall have the right to use all facilities within the office space including conference room,
copier, fax capabilities and coffee service with normal and customary uses. Commercial Pacific will provide telephone with
separate direct line. Local telephone calls will be at no cost to CNB,
but all long distance will be charged back. Commercial Pacific will provide
janitorial services two (2) days per week, and pay all utility charges
associated with rental space.

We
look forward to a good relationship with Mr. Durkin, and having him in the
office. Please let us know the commencement date for our files.

Sincerely,

COMMERCIAL
PACIFIC REAL ESTATE

Wes
Bennett, PrincipalEXHIBIT 10.2

	
  

  	
  COMMERCIAL PROPERTY PURCHASE AGREEMENT

  AND JOINT ESCROW INSTRUCTIONS

  (NON-RESIDENTIAL)

  (C.A.R. Form CPA, Revised 10/02)

  	
   

  

 

Date May 12,
2006 , at   PASO ROBLES
, California.

	
  1.

  	
  OFFER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  A.

  	
  THIS
  IS AN OFFER FROM   COAST
  NATIONAL BANK (“Buyer”).

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  o
  Individual(s), o A
  Corporation, o A
  Partnership, o An LLC, o An LLP,
  or  Other    .

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B.

  	
  THE
  REAL PROPERTY TO BE ACQUIRED is described
  as   2102
  SPRING STREET, PASO ROBLES, CALOTS 7, 8, 9,10,Assessor’s Parcel No.   008-225-011, situated in PASO ROBLES, County of SAN LUIS OBISPO, California, (“Property”).

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C.

  	
  THE PURCHASE PRICE offered is One Million Six Hundred
  Thousand    Dollars $1,600,000.00 .

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D.

  	
  CLOSE
  OF ESCROW shall occur on October 21, 2006 (date)
  (or o    Days After Acceptance).

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  FINANCE TERMS: Obtaining the loans below is a contingency of this Agreement
  unless: (i) either 2L or 2M is
  checked below; or (ii) otherwise
  agreed in writing. Buyer shall
  act diligently and in good faith to obtain the designated loans. Obtaining
  deposit, down payment and closing costs is
  not a contingency. Buyer represents that funds will be good when
  deposited with Escrow Holder.

  

 

	
  

  	
  A.

  	
  INITIAL DEPOSIT: Buyer
  has given a deposit in the amount of 

  	
   

  	
  $

  	
  25,000.00

  	
   

  
	
   

  	
   

  	
  to the agent submitting the offer (or to o         ), by Personal Check (orx         ), made payable to
    FIRST
  AMERCIAN TITLE , which shall be
  held uncashed until Acceptance and then deposited within 3 business days after Acceptance or o  , with Escrow Holder,
  or o into Broker’s
  trust account.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  B.

  	
  INCREASED
  DEPOSIT: Buyer shall deposit with Escrow Holder
  an increased deposit in the amount of

  	
   

  	
  $            25, 000.00

  	
   

  
	
   

  	
   

  	
   within
       Days After
  Acceptance, or x  45 DAYS AFTER OPENING ESCROW .

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  C.

  	
  FIRST LOAN IN THE AMOUNT OF          

  	
   

  	
  $

  	
     

  	
   

  
	
   

  	
   

  	
  NEW First Deed of Trust in favor of o
  Lender, o
  Seller,        OR o ASSUMPTION of
  (or o “subject to”)
  Existing First Deed of Trust  encumbering the Property, securing a note
  payable at maximum interest of    
  % fixed rate, or     % initial adjustable rate with
  a maximum interest rate of     %,
  balance due in  years, amortized
  over  years. (If checked: o and with a
  margin not to exceed    %,
   tied to the following index       .)
  Buyer shall pay loan fees/points not to exceed      .Additional terms                  

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  D.

  	
  SECOND LOAN IN THE AMOUNT
  OF        

  	
   

  	
  $

  	
     

  	
   

  
	
   

  	
   

  	
  NEW Second Deed of Trust in favor of o
  Lender, o
  Seller,        OR o ASSUMPTION of
  (or o “subject to”)
  Existing Second Deed of Trust encumbering the Property, securing a note
  payable at maximum interest of        
  % fixed rate, or           %
  initial adjustable rate with a maximum interest rate of           
  %, balance due in  years, amortized
  over           years.
  (If checked: o and with a
  margin not to exceed          %,
  tied to the following index:              .)
  Buyer shall pay loan fees/points not to exceed             
  . Additional terms                   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  E.

  	
  ADDITIONAL
  FINANCING TERMS:

  	
   

  	
  $

  	
     

  	
   

  
	
   

  	
   

  	
  THIS IS A CASH OFFER. 

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  F.

  	
  BALANCE OF
  PURCHASE PRICE (not
  including costs of obtaining loans and other closing costs) in the  amount of  

  	
   

  	
  $

  	
  1, 550,
  000.00

  	
   

  
	
   

  	
   

  	
  to be deposited with Escrow
  Holder within sufficient time to close escrow.

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  G.

  	
  PURCHASE
  PRICE (TOTAL):

  	
   

  	
  $

  	
  1, 600,
  000.00

  	
   

  

 

	
  

  	
  H.

  	
  LOAN
  APPLICATIONS: Within
  7 (or o  ) Days After
  Acceptance, Buyer shall provide Seller a letter from lender or mortgage loan broker stating that, based on a review of
  Buyer’s written application and credit report, Buyer is prequalified or
  preapproved for any NEW loan specified above.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  I.

  	
  VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer’s lender
  or loan broker pursuant to 2H) shall, within 7 (or o  ) Days After Acceptance, provide Seller written verification
  of Buyer’s down payment and closing costs.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  J.

  	
  LOAN
  CONTINGENCY REMOVAL: (i) Within 17 (or o  ) Days After
  Acceptance Buyer shall, as specified in paragraph 17, remove the loan contingency or cancel this Agreement; OR (ii) (if checked) o loan contingency shall
  remain in effect until the designated loans are funded.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  K.

  	
  APPRAISAL CONTINGENCY AND REMOVAL: This
  Agreement is (OR, if checked, xis NOT) contingent upon the
  Property appraising at no less than the specified purchase price. If there is
  a loan contingency, at the time the loan contingency is removed (or, if
  checked, o
  within 17 (or
           ) Days After
  Acceptance), Buyer shall, as specified in paragraph 17, remove the appraisal
  contingency or cancel this Agreement. If there is no loan
  contingency, Buyer shall, as specified in paragraph 17, remove the appraisal
  contingency within 17 (or         ) Days
  After Acceptance.

  

 

 

 

2110 SPRING STREET, PASO ROBLES, CA

Property
Address: PASO ROBLES, CA 93446  Date:
May 12, 2006

L.                o NO LOAN CONTINGENCY (If checked): Obtaining
any loan in paragraphs 2C, 2D, 2E or elsewhere in this Agreement, is NOT a
contingency of
this Agreement. If Buyer does not obtain the loan and as a result Buyer does
not purchase the Property, Seller may be entitled to Buyer’s deposit or other legal remedies.

M.______ x ALL CASH OFFER (If checked): No loan is needed to purchase the Property. Buyer shall,
within 7 (or o  ) Days After Acceptance, provide Seller written
verification of sufficient funds to close this transaction.

N.               SELLER FINANCING: For any Seller financing designated above,
Buyer is to execute a note secured by a deed of trust in favor of Seller, on
the terms and conditions set forth in the attached addendum (C.A.R. Form SFA).

O.              ASSUMED
OR “SUBJECT TO” FINANCING: Seller represents that Seller is not delinquent on any
payments due on any loans. Seller shall, within the time specified in paragraph 17, provide
Copies of all applicable notes and deeds of trust, loan balances and current
interest rates to Buyer. Buyer shall then, as specified in paragraph 17, remove this
contingency or cancel this Agreement. Differences between estimated and actual loan balances shall
be adjusted at Close Of Escrow by cash down payment. Impound accounts, if any,
shall be assigned and charged to Buyer
and credited to Seller. Seller is advised that Buyer’s assumption of an
existing loan may not release Seller from liability on that loan. If the Property is acquired subject to an existing loan,
Buyer and Seller are advised to consult with legal counsel regarding the
ability of an existing lender to call the loan due, and the consequences
thereof.

3.         CLOSING AND OCCUPANCY:

A.               Seller-Occupied or Vacant
Units: Occupancy shall be
delivered to Buyer at 12
o AM  x  PM  x  on the date of Close Of
Escrow;                 on        
; or o no later than           Days After Close Of Escrow. (C.A.R. Form PAA, paragraph
2.) If transfer of title and occupancy do not occur at the same time,
Buyer and Seller are advised to: (i) enter
into a written occupancy agreement; and (ii) consult
with their insurance and legal advisors.

B.               Tenant-Occupied Units: Possession and occupancy, subject to the
rights of tenants under existing leases, shall be delivered to Buyer on Close
Of Escrow.

C.                At Close Of Escrow,
Seller assigns to Buyer any assignable warranty rights for items included in
the sale and shall provide any available Copies of such warranties. Brokers cannot and will not determine the
assignability of any warranties.

D.               At Close Of Escrow, unless otherwise agreed in
writing, Seller shall provide keys and/or means to operate all locks,
mailboxes, security systems, alarms and garage door openers. If the Property is
a unit in a condominium or located in a common-interest subdivision, Buyer may
be required to pay a deposit to the Owners’ Association (“OA”) to obtain keys
to accessible OA facilities.

4.                          SECURITY
DEPOSITS: Security
deposits, if any, to the extent they have not been applied by Seller in
accordance with any rental agreement and current Law, shall be transferred to Buyer on Close Of Escrow. Seller
shall notify each tenant, in compliance with the Civil Code.

5.                          ALLOCATION
OF COSTS (if
checked ): Unless otherwise specified here, this paragraph only determines who
is to pay for the report, inspection, test or service mentioned. If not
specified here or elsewhere in this Agreement, the determination of who is to
pay for any work recommended or identified by any such report, inspection, test or service is by the method
specified in paragraph 17.

A.               INSPECTIONS AND REPORTS:

(1) o
Buyer o Seller shall pay for
sewer connection, if required by Law prior to Close Of Escrow                            
..

(2)  o Buyer
o Seller shall pay to
have septic or private sewage disposal system inspected                                        
..

(3)  o Buyer
o Seller shall pay to
have domestic wells tested for water potability and productivity                           
..

(4)  x Buyer o
Seller shall pay for a natural hazard zone disclosure report prepared by COMPANY OF SELLER CHOICE .

(5)  o Buyer
o Seller shall pay for
the following inspection or report                                                                           
..

(6)  o Buyer
o Seller shall pay for
the following inspection or report                                                                           
..

B.               GOVERNMENT REQUIREMENTS
AND RETROFIT:

(1)  x Buyer o Seller shall pay for
smoke detector installation and/or water heater bracing, if required by Law.
Prior to Close Of Escrow, Seller shall
provide Buyer a written statement of compliance in accordance with state and
local Law, unless exempt.

(2)  x Buyer o Seller shall pay the cost
of compliance with any other minimum mandatory government retrofit standards,
inspections and reports if
required as a condition of closing escrow under any Law.

(3)  x Buyer o Seller shall pay for
installation of approved fire extinguisher(s), sprinkler(s), and hose(s), if
required by Law, which shall be installed prior to Close Of Escrow. Prior to Close Of
Escrow Seller shall provide Buyer a written statement of compliance, if
required by Law.

C.               ESCROW AND TITLE:

(1)   x   Buyer   x   Seller shall pay escrow fee 50-50                             . 

Escrow Holder shall be FIRST AMERICAN TITLE                               .

(2)  o Buyer x Seller shall pay for owner’s title insurance policy specified in
paragraph 16 Owner’s title policy to be issued by FIRST AMERICAN TITLE .
(Buyer shall pay for any title insurance policy insuring
Buyer’s lender, unless otherwise
agreed in writing.)

D.               OTHER COSTS:

(1)  o Buyer x Seller
shall pay County transfer tax or transfer fee       
..

(2)  o Buyer o
Seller shall pay City transfer tax or transfer fee        .

(3)  o
Buyer o
Seller shall pay OA transfer fees       
..

(4)  o
Buyer o
Seller shall pay OA document preparation fees       
..

(5)  o
Buyer o
Seller shall pay for       
..

(6)  o Buyer o Seller shall pay for        .

	
  

  	
  Buyer’s Initials

  	
  (

  	
  )

  	
  (

  	
  )

  	
  

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Copyright © 1991-2006, CALIFORNIA ASSOCIATION

  OF REALTORS®, INC.

  	
  Seller’s Initials

  	
  (

  	
  )

  	
  (

  	
  )

  
	
  Reviewed by   

  	
   

  	
   

  	
  Date

  	
   

  
									

CPA REVISED 10/02

COMMERCIAL
PROPERTY PURCHASE AGREEMENT

 

 

6.         SELLER
DISCLOSURES:

A.               NATURAL AND ENVIRONMENTAL
DISCLOSURES: Seller shall, within the time specified in
paragraph 17, if required by Law: (i) deliver
to Buyer earthquake guides (and
questionnaire) and environmental hazards booklet; (ii) even if exempt from the obligation to provide an NHD,
disclose if the Property is located in a Special Flood Hazard Area;
Potential Flooding (Inundation) Area; Very High Fire Hazard Zone; State Fire
Responsibility Area; Earthquake Fault Zone;
Seismic Hazard Zone; and (iii) disclose
any other zone as required by Law and provide any other information required
for those zones.

B.               ADDITIONAL DISCLOSURES: Within the time specified in paragraph 17,
Seller shall provide to Buyer, in writing, the following disclosures,
documentation and information:

(1)           RENTAL SERVICE AGREEMENTS: (i) All current leases, rental agreements, service contracts,
and other agreements pertaining to the operation of the Property; and (ii) a rental statement including names of
tenants, rental rates, period of rental, date of last rent increase, security deposits, rental concessions, rebates, or other
benefits, if any, and a list of delinquent rents and their duration. Seller
represents that no tenant is entitled to any concession, rebate,
or other benefit, except as set forth in these documents.

(2)           INCOME AND EXPENSE
STATEMENTS: The books and records, including a statement of
income and expense for the 12 months preceding Acceptance. Seller represents that the books and records are those
maintained in the ordinary and normal course of business, and used by Seller
in the computation of federal and state income tax returns.

(3)            o TENANT ESTOPPEL CERTIFICATES: (If
checked) Tenant estoppel certificates (C.A.R. Form TEC) completed by Seller or
Seller’s agent, and signed by tenants,
acknowledging: (i) that tenants’
rental or lease agreements are unmodified and in full force and effect (or if
modified, stating all such modifications); (ii) that no lessor defaults exist; and (iii) stating the amount of any prepaid
rent or security deposit.

(4)           SURVEYS,
PLANS AND ENGINEERING DOCUMENTS: Copies of surveys, plans, specifications and
engineering documents, if any, in Seller’s
possession or control.

(5)           PERMITS:
If in Seller’s possession,
Copies of all permits and approvals concerning the Property, obtained from any
governmental entity, including, but not limited to,
certificates of occupancy, conditional use permits, development plans, and
licenses and permits pertaining to the operation of the Property.

(6)           STRUCTURAL MODIFICATIONS: Any known structural additions or alterations
to, or the installation, alteration, repair or replacement of, significant
components of the structure(s) upon the Property.

(7)           GOVERNMENTAL
COMPLIANCE: Any improvements, additions, alterations or repairs made by Seller, or
known to Seller to have been made, without
required governmental permits, final inspections, and approvals.

(8)           VIOLATION NOTICES: Any
notice of violations of any Law filed or issued against the Property and
actually known to Seller.

(9)           MISCELLANEOUS ITEMS: Any
of the following, if actually known to Seller: (i) any current pending lawsuit(s), investigation(s),
inquiry(ies), action(s), or other proceeding(s) affecting the Property, or the
right to use and occupy it; (ii) any
unsatisfied mechanic’s or materialman’s lien(s) affecting the Property; and (iii) that any tenant of the Property is
the subject of a bankruptcy.

7.            x ENVIRONMENTAL SURVEY (If checked): Within 45 Days After Acceptance, Buyer shall be
provided a phase one environmental survey report paid for and obtained by x Buyer o Seller. Buyer shall then, as specified in paragraph 17,
remove this contingency or cancel this Agreement.

8.                          CONDOMINIUM/PLANNED UNIT
DEVELOPMENT DISCLOSURES:

A.               SELLER HAS: 7 (or o   ) Days After Acceptance to disclose to Buyer whether the
Property is a condominium, or located in a planned unit development or
other common interest subdivision.

B.________ If
Property is a condominium, or located in a planned unit development or other
common interest subdivision, Seller has 3 (or
o  )
Days After Acceptance to request from the OA (C.A.R.
Form HOA): (i) Copies of any
documents required by Law; (ii) disclosure
of any pending or anticipated claim
or litigation by or against the OA; (iii) a
statement containing the location and number of designated parking and storage
spaces; (iv) Copies of the
most recent 12 months of OA minutes for regular and special meetings; and (v) the names and contact information of
all OA’s governing the Property. (Collectively, “CI Disclosures.”) Seller shall
itemize and deliver to Buyer all CI Disclosures received from the OA and any CI
Disclosures in Seller’s possession. Buyer’s approval of CI Disclosures is a
contingency of this Agreement as specified in paragraph 17.

9.                          SUBSEQUENT DISCLOSURES: In the event Seller, prior to Close Of Escrow, becomes
aware of adverse conditions materially affecting the Property, or
any material inaccuracy in disclosures, information or representations
previously provided to Buyer of which Buyer is otherwise unaware, Seller shall promptly provide a subsequent or amended disclosure
or notice in writing, covering those items. However,
a subsequent or amended disclosure shall not be required for conditions and material inaccuracies disclosed
in reports ordered and paid for by Buyer.

10.                   CHANGES DURING ESCROW:

A.              Prior
to Close Of Escrow, Seller may only engage in the following acts, (“Proposed
Changes”), subject to Buyer’s rights in paragraph 17: (i) rent or lease any vacant unit or other
part of the premises; (ii) alter,
modify, or extend any existing rental or lease agreement; (iii) enter into, alter, modify or extend
any service contract(s); or (iv) change
the status of the condition of the Property.

B.________ At least 7
(or o                       ) Days prior
to any Proposed Changes, Seller shall give written notice to Buyer of any
Proposed Changes.

11.                   CONDITIONS AFFECTING
PROPERTY:

A.              Unless otherwise agreed: (i) the Property is sold (a) in its PRESENT physical condition as of the
date of Acceptance and (b) subject to Buyer’s Investigation rights; (ii) the Property, including pool, spa, landscaping and
grounds, is to be maintained in substantially the same condition
as on the date of Acceptance; and (iii) all
debris and personal property not included in the sale shall be removed by Close
Of Escrow.

B.               SELLER SHALL, within the time
specified in paragraph 17, DISCLOSE KNOWN MATERIAL FACTS AND DEFECTS affecting
the Property, including known insurance claims within the past five years, AND
MAKE OTHER DISCLOSURES REQUIRED BY LAW.

 

 

C.               NOTE TO BUYER: You are
strongly advised to conduct investigations of the entire Property in order to
determine its present condition since Seller may not be aware of all defects
affecting the Property or other factors that you consider important. Property
improvements may not be built according to code, in compliance with current
Law, or have had permits issued.

D.               NOTE TO
SELLER: Buyer has the right to inspect the Property and, as specified in
paragraph 17, based upon information discovered in those inspections: (i)
cancel this Agreement; or (ii) request that you make Repairs or take other
action.

12.                   ITEMS INCLUDED AND EXCLUDED:

A.               NOTE TO BUYER AND SELLER: Items listed as included or excluded in the
MLS, flyers or marketing materials are not included in the purchase price or
excluded from the sale unless specified in 12B or C.

B.               ITEMS INCLUDED IN SALE:

(1)            All EXISTING fixtures and fittings that are
attached to the Property.

(2)            Existing electrical,
mechanical, lighting, plumbing and heating fixtures, ceiling fans, fireplace
inserts, gas logs and grates, solar systems, built-in appliances, window and door screens, awnings, shutters, window
coverings, attached floor coverings, television antennas, satellite dishes,
private integrated telephone systems, air coolers/conditioners, pool/spa
equipment, garage door openers/remote controls, mailbox, in-ground landscaping,
trees/shrubs, water softeners, water purifiers, security systems/alarms.

(3)            A complete inventory of all personal property
of Seller currently used in the operation of the Property and included in the
purchase price shall be delivered to Buyer within the time specified in
paragraph 17.

(4)            Seller represents that all items included in
the purchase price are, unless otherwise specified, owned by Seller. Within the
time specified in paragraph 17, Seller shall give Buyer a list of fixtures not
owned by Seller.

(5)            Seller shall deliver title to the personal
property by Bill of Sale, free of all liens and encumbrances, and without
warranty of condition.

(6)            As additional security
for any note in favor of Seller for any part of the purchase price, Buyer shall
execute a UCC-1 Financing Statement to be filed with the Secretary of State, covering the personal property
included in the purchase, replacement thereof, and insurance proceeds.

C.               ITEMS EXCLUDED FROM SALE: SELLER PERSONAL PROPERTY: SELLER WILL PROVIDE LIST.

13.                   BUYER’S INVESTIGATION OF
PROPERTY AND MATTERS AFFECTING PROPERTY:

A.              Buyer’s acceptance of the
condition of, and any other matter affecting the Property is a contingency of
this Agreement, as specified in this paragraph and paragraph 17. Within the time specified in paragraph 17,
Buyer shall have the right, at Buyer’s expense unless otherwise agreed, to conduct inspections, investigations, tests,
surveys and other studies (“Buyer Investigations”), including, but not limited
to, the right to: (i) inspect for lead-based paint and other lead-based
paint hazards; (ii) inspect for
wood destroying pests and organisms; (iii) confirm
the insurability of Buyer and the
Property; and (iv) satisfy Buyer
as to any matter of concern to Buyer. Without Seller’s prior written consent,
Buyer shall neither make nor cause to
be made: (i) invasive or
destructive Buyer Investigations; or (ii) inspections
by any governmental building or zoning inspector, or government
employee, unless required by Law.

B.                Buyer shall complete Buyer Investigations and,
as specified in paragraph 17, remove the contingency or cancel this Agreement.
Buyer shall give Seller, at no cost, complete
Copies of all Buyer Investigation reports obtained by Buyer. Seller shall make
Property available for all Buyer Investigations.
Seller shall have water, gas, electricity, and all operable pilot lights on for
Buyer’s Investigations and through the date possession is made available
to Buyer.

14.                   REPAIRS: Repairs shall be completed prior to final
verification of condition unless otherwise agreed in writing. Repairs to be
performed at Seller’s expense may be
performed by Seller or through others, provided that the work complies with
applicable Law, including governmental permit, inspection and approval
requirements. Repairs shall be performed in a good, skillful manner with
materials of quality and appearance comparable to existing materials. It is
understood that exact restoration of appearance or cosmetic items following all
Repairs may not be possible. Seller shall: (i)
obtain receipts for Repairs
performed by others; (ii) prepare
a written statement indicating the Repairs performed by Seller and the date of
such Repairs; and (iii) provide
Copies of receipts and statements to Buyer prior to final verification of
condition.

15.                   BUYER
INDEMNITY AND SELLER PROTECTION FOR ENTRY UPON PROPERTY: Buyer shall: (i) keep the Property free and clear of
liens; (ii) Repair all damage arising
from Buyer Investigations; and (iii) indemnify
and hold Seller harmless from all resulting liability, claims, demands, damages and costs. Buyer shall carry, or Buyer
shall require anyone acting on Buyer’s behalf to carry policies of liability,
workers’ compensation and other applicable
insurance, defending and protecting Seller from liability for any injuries to
persons or property occurring during any Buyer Investigations or work
done on the Property at Buyer’s direction prior to Close Of Escrow. Seller is
advised that certain protections may be afforded Seller by recording a “Notice
of Non-Responsibility” (C.A.R. Form NNR) for Buyer Investigations and work done
on the Property at Buyer’s direction. Buyer’s obligations under this paragraph
shall survive the termination of this Agreement.

16.                   TITLE AND VESTING:

A.              Within the time specified
in paragraph 17, Buyer shall be provided a current preliminary (title) report,
which is only an offer by the title insurer to issue a policy of title insurance and may not
contain every item affecting title. Buyer’s review of the preliminary report
and any other matters which may
affect title are a contingency of this Agreement as specified in paragraph 17.

B.                Title is taken in its
present condition subject to all encumbrances, easements, covenants,
conditions, restrictions, rights and other matters, whether of record or not,
as of the date of Acceptance except: (i) monetary
liens of record unless Buyer is assuming those obligations or taking the property subject to those obligations; and
(ii) those matters which Seller
has agreed to remove in writing.

C.                Within the time specified
in paragraph 17, Seller has a duty to disclose to Buyer all matters known to
Seller affecting title, whether of record or not.

 

 

D.               At
Close Of Escrow, Buyer shall receive a grant deed conveying title (or, for
stock cooperative or long-term lease, an assignment of stock certificate or of
Seller’s leasehold interest), including oil, mineral and water rights if
currently owned by Seller. Title shall vest as designated in Buyer’s
supplemental escrow instructions. THE MANNER OF TAKING TITLE MAY HAVE
SIGNIFICANT LEGAL AND TAX CONSEQUENCES. CONSULT AN APPROPRIATE PROFESSIONAL.

E.                 Buyer
shall receive a standard coverage owner’s CLTA policy of title insurance. An
ALTA policy or the addition of endorsements may provide greater coverage for
Buyer. A title company, at Buyer’s request, can provide information about the
availability, desirability, coverage, and cost of various title insurance
coverages and endorsements. If Buyer desires title coverage other than that
required by this paragraph, Buyer shall instruct Escrow Holder in writing and
pay any increase in cost.

17.                   TIME PERIODS;
REMOVAL OF CONTINGENCIES; CANCELLATION RIGHTS: The following time periods may
only be extended, altered, modified or changed by
mutual written agreement. Any removal of contingencies or cancellation under this
paragraph must be in writing (C.A.R. Form CR).

A.               SELLER HAS: 7 (or x  25 ) Days After Acceptance to
deliver to Buyer all reports, disclosures and information for which Seller is responsible under paragraphs
5, 6A and B, 8A, 11 B, 12B (3) and (4) and 16.

B.               BUYER HAS: 17 (or x  45 ) Days After Acceptance, unless
otherwise agreed in writing, to:

(1)            Complete
all Buyer Investigations; approve all disclosures, reports and other applicable
information, which Buyer receives from
Seller; and approve all matters affecting the Property (including lead-based
paint and lead-based paint hazards as well as other information specified
in paragraph 6 and insurability of Buyer and the Property).

(2)            Within
the time specified in 17B(1), Buyer may request that Seller make repairs or
take any other action regarding the Property (C.A.R. Form RR). Seller has no
obligation to agree to or respond to Buyer’s requests.

(3)            By
the end of the time specified in 17B(1) (or 2J for loan contingency or 2K for
appraisal contingency), Buyer shall remove, in writing, the applicable
contingency (C.A.R. Form CR) or cancel this Agreement. However, if the following
inspections, reports or disclosures are not made within the time
specified in 17A, then Buyer has 5 (or x   14 ) Days after receipt of any such
items, or the time specified in, whichever is later, to remove the applicable
contingency or cancel this Agreement in writing: (i) government-mandated inspections or reports required as a
condition of closing; (ii) Common
Interest Disclosures pursuant to paragraph
8B; (iii) a subsequent or amended
disclosure pursuant to paragraph 9; (iv) Proposed
Changes pursuant to paragraph 10B; and (v)
environmental survey pursuant to paragraph 7.

C.               CONTINUATION OF
CONTINGENCY OR CONTRACTUAL OBLIGATION; SELLER RIGHT TO CANCEL:

(1)           Seller right to Cancel: Buyer Contingencies: Seller, after first giving Buyer a Notice to Buyer
to Perform (as specified below), may cancel this Agreement in writing
and authorize return of Buyer’s deposit if, by the time specified in the Agreement, Buyer
does not remove in writing the applicable contingency or cancel this Agreement.
Once all contingencies have been removed, failure of either Buyer or Seller to
close escrow in time may be a breach of this Agreement.

(2)           Continuation of Contingency: Even after the expiration of the time
specified in 17B, Buyer retains the right to make requests to Seller, remove in writing the applicable contingency or
cancel this Agreement until Seller cancels pursuant to 17C(1). Once
Seller receives Buyer’s written removal of all contingencies, Seller may not
cancel this Agreement pursuant to 17C(1).

(3)           Seller
right to Cancel: Buyer Contract Obligations: Seller, after first giving
Buyer a Notice to Buyer to Perform (as specified below), may cancel this
Agreement in writing and authorize return of Buyer’s deposit for any of the
following reasons: (i) if Buyer fails to deposit funds as
required by 2A or 2B; (ii) if the
funds deposited pursuant to 2A or 2B are not good when deposited; (iii) if Buyer fails to provide a letter as
required by 2H; (iv) if Buyer
fails to provide verification as required by 2I or 2M; (v) if Seller reasonably disapproves of the
verification provided by 2I or 2M. Seller is
not required to give Buyer a Notice to Perform regarding Close Of Escrow.

(4)           Notice
To Buyer To Perform: The Notice to Buyer to Perform (C.A.R. Form NBP) shall
(i) be in writing; (ii) be signed by Seller; and (iii) give Buyer at least 24 (or o    ) hours (or until the time specified in the
applicable paragraph, whichever occurs last)
to take the applicable action. A Notice to Buyer to Perform may not be given
any earlier than 2 Days Prior to the
expiration of the applicable time for Buyer to remove a contingency or cancel
the Agreement or meet a 17C(3) obligation.

D.               EFFECT OF BUYER’S REMOVAL
OF CONTINGENCIES: If Buyer removes, in writing, any
contingency or cancellation rights, unless
otherwise specified in a separate written agreement between Buyer and Seller,
Buyer shall conclusively be deemed to have: (i) completed all Buyer Investigations, and review of reports
and other applicable information and disclosures pertaining to that contingency or cancellation right; (ii) elected to proceed with the
transaction; and (iii) assumed all
liability, responsibility, and expense for Repairs or corrections
pertaining to that contingency or cancellation right, or for inability to obtain
financing.

E.                 EFFECT OF CANCELLATION ON DEPOSITS: If Buyer or Seller gives written notice of cancellation
pursuant to rights duly exercised under the terms of this
Agreement, Buyer and Seller agree to Sign mutual instructions to cancel the
sale and escrow and release deposits, less fees and costs, to the party
entitled to the funds. Fees and costs may be payable to service providers and
vendors for services and products provided during escrow. Release of funds will require mutual Signed release instructions
from Buyer and Seller, judicial decision or arbitration award.

 

18.                   FINAL
VERIFICATION OF CONDITION: Buyer shall have the right to make a final
inspection of the Property within 5 (or o  ) Days Prior to Close Of Escrow, NOT AS A
CONTINGENCY OF THE SALE, but solely to confirm: (i) the Property is maintained pursuant to paragraph 11A; (ii) Repairs have been completed as agreed;
and (iii) Seller has complied with
Seller’s other obligations under this Agreement.

19.            ENVIRONMENTAL HAZARD
CONSULTATION: Buyer and
Seller acknowledge: (i) Federal,
state, and local legislation impose liability upon existing and former owners
and users of real property, in applicable situations, for certain legislatively
defined, environmentally hazardous substances; (ii) Broker(s) has/have made
no representation concerning the applicability of any such Law to this
transaction or to Buyer or to Seller, except as otherwise indicated in
this Agreement; (iii) Broker(s)
has/have made no representation concerning the existence, testing, discovery,
location and evaluation of/for, and risks
posed by, environmentally hazardous substances, if any, located on or
potentially affecting the Property; and (iv) Buyer
and Seller are each advised to consult with technical and legal experts
concerning the existence, testing, discovery, location and evaluation of/for, and
risks posed by, environmentally hazardous substances, if any, located on or
potentially affecting the Property.

20.            AMERICANS
WITH DISABILITIES ACT: The Americans With Disabilities Act (“ADA”) prohibits
discrimination against individuals with disabilities. The ADA affects almost
all commercial facilities and public accommodations. The ADA can require, among
other things, that buildings be made readily accessible to the disabled.
Different requirements apply to new construction, alterations to existing
buildings, and removal of barriers in existing buildings. Compliance with the ADA may require significant
costs. Monetary and injunctive remedies may be incurred if the Property is not
in compliance. A real estate broker does not have the technical expertise to
determine whether a building is in compliance with ADA requirements, or to advise a principal on those requirements. Buyer
and Seller are advised to contact an attorney, contractor, architect, engineer
or other qualified professional of Buyer’s or Seller’s own choosing to
determine to what degree, if any, the ADA impacts that principal or this
transaction.

21.            LIQUIDATED
DAMAGES: If Buyer fails to complete this purchase because of Buyer’s default,
Seller shall retain, as liquidated damages, the deposit actually
paid. Buyer and Seller agree that this amount is a reasonable
sum given that it is impractical or extremely difficult to establish the amount
of damages that would actually be suffered by Seller in the event Buyer were to breach
this Agreement. Release of funds will require mutual, Signed release
instructions from both Buyer and Seller, judicial decision or arbitration
award.

Buyer’s
Initials            /
               Seller’s
Initials               /

22.                 DISPUTE
RESOLUTION:

A.               MEDIATION: Buyer and Seller agree to mediate any dispute
or claim arising between them out of this Agreement, or any resulting
transaction, before resorting to arbitration
or court action. Paragraphs 22B(2) and (3) below apply to mediation whether or
not the Arbitration provision is initialed.
Mediation fees, if any, shall be divided equally among the parties involved.
If, for any dispute or claim to which this paragraph applies, any party
commences an action without first attempting to resolve the matter through
mediation, or refuses to mediate after a request has been made, then that party shall not be entitled to
recover attorney fees, even if they would otherwise be available to that party
in any such action. THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE
ARBITRATION PROVISION IS INITIALED.

B.               ARBITRATION OF DISPUTES: (1) Buyer and Seller agree
that any dispute or claim in Law or equity arising between them out of this
Agreement or any resulting transaction, which is not settled through mediation,
shall be decided by neutral, binding arbitration, including and subject to
paragraphs 22B(2) and (3) below. The
arbitrator shall be a retired judge or justice, or an attorney with at least 5
years of real estate transactional Law
experience, unless the parties mutually agree to a different arbitrator, who
shall render an award in accordance with substantive California Law. The
parties shall have the right to discovery in accordance
with Code of Civil Procedure §1283.05. In all other respects, the arbitration
shall be conducted in accordance with Title 9 of Part III of the
California Code of Civil Procedure. Judgment upon the award of the arbitrator(s) may be entered into any court
having jurisdiction. Interpretation of this agreement to arbitrate shall
be governed by the Federal Arbitration Act.

(2)  EXCLUSIONS
FROM MEDIATION AND ARBITRATION: The following matters are excluded from
mediation and arbitration: (i) a judicial or non-judicial
foreclosure or other action or proceeding to enforce a deed of trust, mortgage,
or installment land sale contract as defined in Civil Code §2985; (ii) an unlawful
detainer action; (iii) the filing or enforcement of a mechanic’s lien; and (iv)
any matter that is within the jurisdiction of
a probate, small claims, or bankruptcy court. The filing of a court action to
enable the recording of a notice of pending action, for order of
attachment, receivership, injunction, or other provisional remedies, shall not
constitute a waiver of the mediation and arbitration provisions.

(3)  BROKERS:
Buyer and Seller agree to mediate and arbitrate disputes or claims involving
either or both Brokers, consistent with 22A and B, provided either or both
Brokers shall have agreed to such mediation or arbitration prior to, or within
a reasonable time after, the dispute or claim is presented to Brokers. Any
election by either or both Brokers to participate in mediation or arbitration shall not result in Brokers
being deemed parties to the Agreement.

“NOTICE: BY
INITIALING IN THE SPACE BELOW YOU ARE AGREEING TO HAVE ANY DISPUTE ARISING
OUT OF THE MATTERS INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION DECIDED BY NEUTRAL ARBITRATION AS
PROVIDED BY CALIFORNIA LAW AND YOU ARE GIVING UP ANY RIGHTS YOU MIGHT POSSESS
TO HAVE THE DISPUTE LITIGATED IN A COURT OR JURY TRIAL. BY INITIALING IN THE SPACE BELOW YOU ARE GIVING UP YOUR JUDICIAL
RIGHTS TO DISCOVERY AND APPEAL, UNLESS
THOSE RIGHTS ARE SPECIFICALLY INCLUDED IN THE ‘ARBITRATION OF DISPUTES’ PROVISION.
IF YOU REFUSE TO SUBMIT TO ARBITRATION AFTER AGREEING TO THIS PROVISION, YOU
MAY BE COMPELLED TO ARBITRATE UNDER THE AUTHORITY OF THE CALIFORNIA CODE OF
CIVIL PROCEDURE. YOUR AGREEMENT TO THIS ARBITRATION PROVISION IS VOLUNTARY.”

“WE HAVE READ AND UNDERSTAND THE
FOREGOING AND AGREE TO SUBMIT DISPUTES ARISING OUT OF THE MATTERS INCLUDED IN
THE ‘ARBITRATION OF DISPUTES’ PROVISION TO NEUTRAL ARBITRATION.”

Buyer’s
Initials                           Seller’s
Initials               /

 

23.          ASSIGNMENT:
Buyer shall not assign all or any part of
Buyer’s interests in this Agreement without first having obtained the written
consent of Seller. Such consent shall not be unreasonably withheld, unless
otherwise agreed in writing. Any total or partial assignment shall not relieve
Buyer of Buyer’s obligations pursuant to this Agreement.

24.                 SUCCESSORS AND ASSIGNS: This Agreement shall be binding upon, and
inure to the benefit of, Buyer and Seller and their respective successors and
assigns, except as otherwise provided herein.

25.                 COPIES: Seller and Buyer each represent that
Copies of all reports, documents, certificates, approvals and other documents
that are furnished to the other are true, correct and unaltered Copies of the
original documents, if the originals are in the possession of the furnishing
party.

26.                 NOTICES: Whenever
notice is given under this Agreement, each notice shall be in writing, and
shall be delivered personally, by facsimile, or by mail, postage prepaid.
Notice shall be delivered to the address set forth below the recipient’s
signature of acceptance. Either party may change its notice address by
providing notice to the other party.

27.                   AUTHORITY: Any
person or persons signing this Agreement represent(s) that such person has full
power and authority to bind that person’s principal, and that the designated
Buyer and Seller has full authority to enter into and perform this Agreement.
Entering into this Agreement, and the completion of the obligations pursuant to
this contract, does not violate any Articles of Incorporation, Articles of
Organization, ByLaws, Operating Agreement, Partnership Agreement or other
document governing the activity of either Buyer or Seller.

28.                   GOVERNING LAW: This
Agreement shall be governed by the Laws of the state of California.

29.                   PRORATIONS OF PROPERTY TAXES AND OTHER ITEMS: Unless
otherwise agreed in writing, the following items shall be PAID CURRENT and
prorated between Buyer and Seller as of Close Of Escrow: real property taxes
and assessments, interest, rents, HOA regular, special, and emergency dues and
assessments imposed prior to Close Of Escrow, premiums on insurance assumed by
Buyer, payments on bonds and assessments assumed by Buyer, and payments on
Mello-Roos and other Special Assessment District bonds and assessments that are
now a lien. The following items shall be assumed by Buyer WITHOUT CREDIT toward
the purchase price: prorated payments on Mello-Roos and other Special
Assessment District bonds and assessments and HOA special assessments that are
now a lien but not yet due. Property will be reassessed upon change of
ownership. Any supplemental tax bills shall be paid as follows: (i) for periods after Close Of Escrow, by
Buyer; and (ii) for periods prior
to Close Of Escrow, by Seller. TAX BILLS ISSUED AFTER CLOSE OF ESCROW SHALL BE
HANDLED DIRECTLY BETWEEN BUYER AND SELLER. Prorations shall be made based on a
30-day month.

30.                   WITHHOLDING TAXES: Seller and Buyer agree to execute any
instrument, affidavit, statement or instruction reasonably necessary to comply
with federal (FIRPTA) and California withholding Law, if required (C.A.R. Form
AS).

31.                   MULTIPLE LISTING SERVICE/PROPERTY DATA SYSTEM: If
Broker is a participant of a Multiple Listing Service (“MLS”) or Property Data
System (“PDS”), Broker is authorized to report to the MLS or PDS a pending sale
and, upon Close Of Escrow, the terms of this transaction to be published and
disseminated to persons and entities authorized to use the information on terms
approved by the MLS or PDS.

32.                   EQUAL HOUSING OPPORTUNITY: The
Property is sold in compliance with federal, state and local
anti-discrimination Laws.

33.                   ATTORNEY FEES: In
any action, proceeding, or arbitration between Buyer and Seller arising out of
this Agreement, the prevailing Buyer or Seller shall be entitled to reasonable
attorney fees and costs from the non-prevailing Buyer or Seller, except as
provided in paragraph 22A.

34.                   SELECTION OF SERVICE PROVIDERS: If
Brokers refer Buyer or Seller to persons, vendors, or service or product
providers (“Providers”), Brokers do not guarantee the performance of any
Providers. Buyer and Seller may select ANY Providers of their own choosing.

35.                   TIME OF ESSENCE; ENTIRE CONTRACT; CHANGES: Time
is of the essence. All understandings between the parties are incorporated in
this Agreement. Its terms are intended by the parties as a final, complete and
exclusive expression of their Agreement with respect to its subject matter, and
may not be contradicted by evidence of any prior agreement or contemporaneous
oral agreement. If any provision of this Agreement is held to be ineffective or
invalid, the remaining provisions will nevertheless be given full force and
effect. Neither this Agreement nor any
provision in it may be extended, amended, modified, altered or changed, except
in writing Signed by Buyer and Seller.

36.                   OTHER TERMS AND CONDITIONS, including
attached supplements:

A.           o Buyer Inspection Advisory (C.A.R. Form BIA) 

B.             o Seller
Financing Addendum and Disclosure (C.A.R. Form SFA) 

C.             o
Purchase Agreement Addendum (C.A.R. Form PAA paragraph numbers:                                        )

D.            o Buyer
Intent To Exchange Supplement (C.A.R. Form BES) 

E.             x Seller Intent to Exchange Supplement (C.A.R.
Form SES) 

F.             OWNER
AND ANY TENANT SHALL REMOVE ALL PERSONAL PROPERTY FROM THE PROPERTY AT LEAST
THREE BUSINESS DAYS PRIOR TO THE CLOSE OF ESCROW; IN THE EVENT SELLER DOES NOT
TIMELY REMOVE ALL PERSONAL PROPERTY ON OR BEFORE 10-18-06, BUYER MAY CLOSE
ESCROW, AND ESCROWHOLDER MAY HOLD BACK $50,000 TO COVER COST OF REMOVING ALL
REMAINING PERSONAL PROPERTY

SELLER SHALL COOPERATE, AT NO
EXPENSE TO SELLER, IN BUYER’S 1031 EXCHANGE.

 

37.                   DEFINITIONS:
As used in this Agreement:

A.               “Acceptance” means
the time the offer or final counter offer is accepted in writing by a party and
is delivered to and personally received by the other party or that party’s
authorized agent in accordance with this offer or a final counter offer.

B.               “Agreement” means
the terms and conditions of this accepted Commercial Property Purchase
Agreement and any accepted counter offers and addenda.

C.               “C.A.R. Form” means
the specific form referenced, or another comparable form agreed to by the
parties.

D.               “Close Of Escrow” means
the date the grant deed, or other evidence of transfer of title, is recorded.
If the scheduled close of escrow falls on a Saturday, Sunday or legal holiday,
then close of escrow shall be the next business day after the scheduled close
of escrow date.

E.                 “Copy” means copy by any means including
photocopy, NCR, facsimile and electronic.

F.                 “Days” means calendar days, unless otherwise
required by Law.

G.               “Days After” means
the specified number of calendar days after the occurrence of the event
specified, not counting the calendar date on which the specified event occurs,
and ending at 11:59 PM on the final day.

H.               “Days Prior” means
the specified number of calendar days before the occurrence of the event
specified, not counting the calendar date on which the specified event is
scheduled to occur.

I.                    “Electronic Copy” or
“Electronic Signature” means,
as applicable, an electronic copy or signature complying with California Law.
Buyer and Seller agree that electronic means will not be used by either one to
modify or alter the content or integrity of the Agreement without the knowledge
and consent of the other.

J.                 “Law” means any law, code, statute, ordinance,
regulation, rule or order, which is adopted by a controlling city, county,
state or federal legislative, judicial or executive body or agency.

K.               “Notice to Buyer to
Perform” means a document (C.A.R. Form NBP), which shall
be in writing and Signed by Seller and shall give Buyer at least 24 hours (or as otherwise specified in paragraph 17C(4)) to
remove a contingency or perform as applicable.

L.                “Repairs” means
any repairs (including pest control), alterations, replacements, modifications
and retrofitting of the Property provided for under this Agreement.

M.             “Signed” means
either a handwritten or electronic signature on an original document, Copy or
any counterpart.

N.               Singular and Plural terms
each include the other, when appropriate.

38.                   BROKERAGE: Neither Buyer nor Seller has utilized the
services of, or for any other reason owes compensation to, a licensed real
estate broker (individual or corporate), agent, finder, or other entity, other
than as specified in this Agreement, in connection with any act relating to the
Property, including, but not limited to, inquiries, introductions,
consultations and negotiations leading to this Agreement. Buyer and Seller each
agree to indemnify, defend, and hold the other, the Brokers specified herein
and their agents, harmless from and against any costs, expenses or liability
for compensation claimed inconsistent with the warranty and representations in
this paragraph.

39.                   AGENCY:

A.               POTENTIALLY COMPETING BUYERS
AND SELLERS: Buyer and Seller
each acknowledge receipt of a disclosure of the possibility of multiple
representation by the Broker representing that principal. This disclosure may
be part of a listing agreement, buyer-broker agreement or separate document
(C.A.R. Form DA). Buyer understands that Broker representing Buyer may also
represent other potential buyers, who may consider, make offers on or
ultimately acquire the Property. Seller understands that Broker representing
Seller may also represent other sellers with competing properties of interest
to this Buyer.

B.               CONFIRMATION: The following agency relationships are hereby
confirmed for this transaction:

Listing Agent SAME (Print
Firm Name) is the agent of (check one): x the Seller exclusively; or o both the Buyer and Seller.

Selling
Agent TOM
BARON REALTY (Print
Firm Name) (if not same as Listing Agent) is the agent of (check one): o the Buyer exclusively; or o the Seller exclusively; or o both the Buyer and Seller. Real Estate
Brokers are not parties to the Agreement between Buyer and Seller.

40.                   JOINT
ESCROW INSTRUCTIONS TO ESCROW HOLDER:

A.               The following paragraphs, or
applicable portions thereof, of this Agreement constitute the joint escrow
instructions of Buyer and
Seller to Escrow Holder, which Escrow Holder is to use along with any related
counter offers and addenda, and any additional mutual instructions to close the
escrow: 1, 2, 4, 5, 16, 17E, 29, 30, 35, 36B-F, 37, 40, 42, 45A, 46 and
paragraph D of the section titled Real Estate Broker on page 10. If a Copy of
the separate compensation agreement(s) provided for in paragraph 42 or 45A, or
paragraph D of the section titled Real Estate Broker on page 10 is deposited
with Escrow Holder by Broker, Escrow Holder shall accept such agreement(s) and
pay out from Buyer’s or Seller’s funds, or both, as applicable, the Broker’s
compensation provided for in such agreement(s). The terms and conditions of
this Agreement not set forth in the specified paragraphs are additional matters
for the information of Escrow Holder, but about which Escrow Holder need not be
concerned. Buyer and Seller will receive Escrow Holder’s general provisions
directly from Escrow Holder and will execute such provisions upon Escrow
Holder’s request. To the extent the general provisions are inconsistent or conflict
with this Agreement, the general provisions will control as to the duties and
obligations of Escrow Holder only. Buyer and Seller will execute additional
instructions, documents and forms provided by Escrow Holder that are reasonably
necessary to close the escrow.

 

B.                A Copy of this Agreement shall be delivered to
Escrow Holder within 3 business
days after Acceptance (or o). Buyer and Seller authorize Escrow Holder to
accept and rely on Copies and Signatures as defined in this Agreement as
originals, to open escrow and for other purposes of escrow. The validity of
this Agreement as between Buyer and Seller is not affected by whether or when
Escrow Holder Signs this Agreement.

C.                Brokers are a party to the Escrow for the sole
purpose of compensation pursuant to paragraphs 42, 45A and paragraph D of the
section titled Real Estate Broker on page 10. Buyer and Seller irrevocably
assign to Brokers compensation specified in paragraphs 42 and 45A,
respectively, and irrevocably instruct Escrow Holder to disburse those funds to
Brokers at Close Of Escrow, or pursuant to any other mutually executed
cancellation agreement. Compensation instructions can be amended or revoked
only with the written consent of Brokers. Escrow Holder shall immediately
notify Brokers: (i) if Buyer’s
initial or any additional deposit is not made pursuant to this Agreement, or is
not good at time of deposit with Escrow Holder; or (ii) if Buyer and Seller instruct Escrow Holder to cancel
escrow.

D.               A Copy of any amendment that affects any
paragraph for which Escrow Holder is responsible shall be delivered to Escrow
Holder within 2 business days
after mutual execution of the amendment.

41.                   SCOPE OF BROKER DUTY: Buyer and Seller acknowledge and agree that:
Brokers: (i) do not decide what
price Buyer should pay or Seller should accept; (ii) do not guarantee the condition of the Property; (iii) do not guarantee the performance,
adequacy or completeness of inspections, services, products or repairs provided
or made by Seller or others; (iv) shall
not be responsible for identifying defects that are not known to Broker(s); (v) shall not be responsible for inspecting
public records or permits concerning the title or use of the Property; (vi) shall not be responsible for
identifying location of boundary lines or other items affecting title; (vii) shall not be responsible for
verifying square footage, representations of others or information contained in
inspection reports, MLS or PDS, advertisements, flyers or other promotional
material, unless otherwise agreed in writing; (viii)
shall not be responsible for providing legal or tax advice regarding
any aspect of a transaction entered into by Buyer or Seller in the course of
this representation; and (ix) shall
not be responsible for providing other advice or information that exceeds the
knowledge, education and experience required to perform real estate licensed
activity. Buyer and Seller agree to seek legal, tax, insurance, title and other
desired assistance from appropriate professionals.

42.                   BROKER COMPENSATION FROM
BUYER: If applicable, upon
Close Of Escrow, Buyer agrees to
pay compensation to Broker as specified in a separate written agreement between
Buyer and Broker.

43.                   TERMS
AND CONDITIONS OF OFFER: This
is an offer to purchase the Property on the above terms and conditions. All
paragraphs with spaces for initials by Buyer and Seller are incorporated in
this Agreement only if initialed by all parties. If at least one but not all
parties initial, a counter offer is required until agreement is reached. Seller
has the right to continue to offer the Property for sale and to accept any
other offer at any time prior to notification of Acceptance. Buyer has read and
acknowledges receipt of a Copy of the offer and agrees to the above
confirmation of agency relationships. If this offer is accepted and Buyer
subsequently defaults, Buyer may be responsible for payment of Brokers’
compensation. This Agreement and any supplement, addendum or modification,
including any Copy, may be Signed in two or more counterparts, all of which
shall constitute one and the same writing.

44.                   EXPIRATION OF OFFER: This offer shall be deemed revoked and the
deposit shall be returned, unless the offer is Signed by Seller, and a Copy of
the Signed offer is personally received by Buyer, or by TOM BARON REALTY, who
is authorized to receive it by 5:00 PM on the third Day after this offer is
signed by Buyer (OR, if checked o by (date), at  o AM  o PM).

	
  Buyer

  	
  COAST NATIONAL BANK

  
	
  By

  	
   

  	
  Date

  	
  May 12, 2006

  
	
  Print name

  	
  JACK WAUCHOPE 

  
	
  Address

  	
  500 MARSH ST

  	
   

  	
  City

  	
  SAN LUIS OBISPO

  	
   

  	
  State

  	
  CA

  	
   

  	
  Zip

  	
  93401

  
	
  Telephone

  	
  (805) 541-0400

  	
   

  	
  Fax

  	
  (805) 781-3182

  	
   

  	
  E-mail

  	
  LPAULY@CNBSLO. COM

  
																							

 

	
  Buyer

  	
   

  
	
  By

  	
   

  	
  Date

  	
   

  
	
  Print name

  	
   

  
	
  Address

  	
   

  	
   

  	
  City

  	
   

  	
   

  	
  State

  	
   

  	
   

  	
  Zip

  	
   

  
	
  Telephone

  	
   

  	
   

  	
  Fax

  	
   

  	
   

  	
  E-mail

  	
   

  
																							

 

45.                   BROKER
COMPENSATION FROM SELLER:

A.              Upon Close Of
Escrow, Seller agrees to pay
compensation to Broker as specified in a separate written agreement between
Seller and Broker.

B.                If escrow does
not close, compensation is payable as specified in that separate written
agreement.

46.                   ACCEPTANCE OF OFFER: Seller warrants that Seller is the owner of
the Property, or has the authority to execute this Agreement. Seller accepts
the above offer, agrees to sell the Property on the above terms and conditions,
and agrees to the above confirmation of agency relationships. Seller has read
and acknowledges receipt of a Copy of this Agreement, and authorizes Broker to
deliver a Signed Copy to Buyer. o (If
checked) SUBJECT TO ATTACHED COUNTER OFFER,
DATED

Seller  JAMES R. CELLA

	
  By

  	
   

  	
   

  	
  Date

  	
   

  

Print
name  JAMES R.
CELLA

	
  Address

  	
   

  	
   

  	
  City

  	
   

  	
   

  	
  State

  	
   

  	
   

  	
  Zip

  	
   

  
	
  Telephone

  	
  (805) 434-1714

  	
   

  	
  Fax

  	
   

  	
   

  	
  E-mail

  	
   

  
																		

 

Seller  HOLLY J. LUNDBECK

	
  By

  	
   

  	
   

  	
  Date

  	
   

  
	
  Print name

  	
   

  	 

	
  Address

  	
   

  	
   

  	
  City

  	
   

  	
   

  	
  State

  	
   

  	
   

  	
  Zip

  	
   

  	 

	
  Telephone

  	
   

  	
   

  	
  Fax

  	
   

  	
   

  	
  E-mail

  	
   

  	 

	
  Notice Address, If Different

  	
   

  	 

																									

 

	
  (           /                    )

  (Initials)

  	
  Confirmation
  of Acceptance: A Copy of Signed Acceptance was personally received
  by Buyer or Buyer’s authorized agent on (date)
                                
  at                o
  AM o PM. A binding
  Agreement is created when a Copy of Signed Acceptance is personally
  received by Buyer or Buyer’s authorized agent whether or not confirmed in
  this document. Completion of this confirmation is not legally required in
  order to create a binding Agreement; it is solely intended to evidence the
  date that Confirmation of Acceptance has occurred.

  

 

REAL ESTATE BROKERS:

A.  Real Estate Brokers
are not parties to the Agreement between Buyer and Seller.

B.  Agency relationships are confirmed as
stated in paragraph 39 above.

C.  If specified in paragraph 2A, Agent who
submitted offer for Buyer acknowledges receipt of deposit.

D.  COOPERATING BROKER COMPENSATION: Listing Broker agrees to pay Cooperating
Broker (Selling Firm) and
Cooperating Broker agrees to accept, out of Listing Broker’s proceeds in
escrow: (i) the amount specified
in the MLS or PDS, provided Cooperating Broker is a Participant of the MLS or
PDS in which the property is offered for sale or a reciprocal MLS or PDS; or (ii) E (if checked) the amount specified in
a separate written agreement (C.A.R. Form CBC) between Listing Broker and
Cooperating Broker.

	
  Real Estate Broker (Selling Firm) TOM BARON REALTY

  	
  DRE Lic. #

  	
   

  	 

	
  By

  	
  TOM BARON  DRE Lic. #

  	
   

  	
  Date

  	
   

  	 

	
  Address

  	
  1516 FAIRWAY DRIVE

  	
   

  	
  City

  	
  PASO ROBLES

  	
   

  	
  State

  	
  CA

  	
   

  	
  Zip

  	
  93446

  	 

	
  Telephone

  	
  (805) 239-2789

  	
   

  	
  Fax

  	
  (805) 239-2789

  	
   

  	
  E-mail

  	
  TOMBARON@CHARTER. NET

  	 

	
  Real Estate Broker (Listing Firm) SAME

  	
   

  	
   

  	
  DRE Lic. #

  	
   

  
	
  By

  	
   

  	
  DRE Lic. #

  	
   

  	
   

  	
  Date

  	
   

  	 

	
  Address

  	
   

  	
   

  	
  City

  	
   

  	
   

  	
  State

  	
   

  	
   

  	
  Zip

  	
   

  	 

	
  Telephone

  	
   

  	
   

  	
  Fax

  	
   

  	
   

  	
  E-mail

  	
   

  	 

																														

 

ESCROW HOLDER ACKNOWLEDGMENT:

Escrow Holder acknowledges receipt of a Copy of this
Agreement, (if checked, o a
deposit in the amount of $                     ),
counter offer
numbers                       and
                        ,
and agrees to act as Escrow Holder subject to paragraph 40 of this Agreement,
any supplemental escrow instructions and the terms of Escrow Holder’s general provisions.

Escrow Holder is advised that the date of Confirmation of Acceptance of
the Agreement as between Buyer and Seller is May 22, 2006

	
  Escrow Holder FIRST AMERICAN TITLE

  	
  Escrow #

  	
  PR-2399371-M/C

  
	
  By

  	
  MARGIE DANLEY

  	
  Date

  	
   

  
	
  Address

  	
  504 FIRST ST. SUITE B, PASO ROBLES CA  93446

  
	
  Phone/Fax/E-mail 

  	
  805-238-7747/866-377-7037

  
							

Escrow Holder is licensed by the California Department of E
Corporations, o Insurance, o Real
Estate.  License #

(       /       )  REJECTION OF OFFER:  No
counter offer is being made. This offer was reviewed and rejected by
Seller on

	
  (Seller’s Initials)

  	
   

  	
   

  	
  (Date)

  	
   

  

 

 

 

THIS FORM HAS BEEN
APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). NO REPRESENTATION
IS MADE AS TO THE LEGAL VALIDITY OR ADEQUACY OF ANY PROVISION IN ANY SPECIFIC
TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL
ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE
PROFESSIONAL.

This
form is available for use by the entire real estate industry. It is not
intended to identify the user as a REALTOR®. REALTOR® is a registered
collective membership mark which may be used only by members of the NATIONAL
ASSOCIATION OF REALTORS® who subscribe to its Code of Ethics.

Published and Distributed by:

REAL ESTATE BUSINESS SERVICES, INC.

	
  a subsidiary of the California Association of
  REALTORS® 525 South Virgil Avenue,
  Los Angeles, California 90020 CPA REVISED
  10/02 (PAGE 10 OF 10)

  	
   

  	
  Reviewed by

  	
  Date

  	
   

  

 

COMMERCIAL PROPERTY PURCHASE AGREEMENT (CPA PAGE 10 OF
10)  Paso
Purchase

 

	
  

  	
   

  	
   

  	
  

  

 

 

COUNTER
OFFER No.

For use by Seller or Buyer. May be used for Multiple
Counter Offer.

(C.A.R. Form CO, Revised
10/04)

Date   May 22, 2006 ,at PASO ROBLES ,California.

This is a counter offer to the:  ̈
California Residential Purchase Agreement,  ̈
Counter Offer, orx Other COMMERCIAL PURCHASE AGREEMENT (“Offer”),
dated May 12, 2006 ,on
property known as 2110
SPRING STREET, PASO ROBLES, CA (“Property”), between COAST NATIONAL BANK (“Buyer”)
and JAMES R. CELLA,
HOLLY J. LUNDBECK (“Seller”).

1.                          TERMS: The terms and conditions of the above
referenced document are accepted subject to
the following:

A.               Paragraphs in the Offer that
require initials by all parties, but are not initialed by all parties, are
excluded from the final agreement unless specifically referenced for inclusion
in paragraph 1C of this or another Counter Offer.

B.               Unless otherwise agreed in
writing, down payment and loan amount(s) will be adjusted in the same
proportion as in the original Offer.

C.               1. THE
PROPERTY ADDRESS IS 2110 SPRING STREET, PASO ROBLES, CA.

2. ITEM 36F IS AMENDED TO ADD THE FOLLOWING
LANGUAGE: SELLER RESERVES THE RIGHT TO EFFECTUATE A TAX DEFERRED EXCHANGE
PURSUANT TO IRC SECTION 1031 AND LIKE CONFORMING STATUTES OF THE STATE OF CA.
BUYER AGREES TO COOPERATE WITH SELLER CONCERNING SAID EXCHANGE PROVIDED THAT IT
IS AT NO ADDITIONAL COST TO BUYER.

3. ITEM 36F IS AMENDED TO ADD THE FOLLOWING
LANGUAGE: SELLER SHALL REMOVE AS MUCH PERSONAL PROPERTY AS THEY DESIRE TO
RETAIN(PROVIDING BUYER WITH A LIST OF SAID PROPERTY) AND BUYER SHALL BE
ENTITLED TO REMOVE THE BALANCEOF THE PERSONAL PROPERTY. NO MONEY WILL BE HELD
BACK AT THE CLOSE OF ESCROW REGARDING THE PERSONAL PROPERTY.

D.               The following attached
supplements are incorporated into this Counter Offer: o Addendum No.

                                                         o                                                             o                    

2.                          RIGHT TO ACCEPT OTHER OFFERS:
Seller has the right to
continue to offer the Property for sale or for other transaction, and to accept
any other offer at any time prior to notification of acceptance, as described
in paragraph 3. If this is a Seller Counter Offer, Seller’s acceptance of
another offer prior to Buyer’s acceptance and communication of notification of
this Counter Offer, shall revoke this Counter Offer.

3.                          EXPIRATION: This Counter Offer shall be deemed revoked and
the deposits, if any, shall be returned unless this Counter Offer is signed by
the Buyer or Seller to whom it is sent and a Copy of the signed Counter Offer
is personally received by the person making this Counter Offer
or                                                                                                    ,
who is authorized to receive it, by 5:00 PM on the third Day After this Counter
Offer is made or, (if checked) by x June 1, 2006 (date),
at5:00  o AM x PM.
This Counter Offer may be executed in counterparts. 

4.                   (If checked:) MULTIPLE
COUNTER OFFER: Seller is
making a Counter Offer(s) to another prospective buyer(s) on terms that may or
may not be the same as in this Counter Offer. Acceptance of this Counter Offer
by Buyer shall not be binding
unless and until it is subsequently re-Signed by Seller in paragraph 7 below
and a Copy of the Counter Offer Signed in paragraph 7 is personally received by
Buyer or by
                            ,
who is authorized to receive it, by 5:00PM on the third Day after this Counter
Offer is made or, (if checked) by o                         (date),
at            o AM o PM.
Prior to the completion of all of these events, Buyer and Seller shall have no
duties or obligations for the purchase or sale of the Property.

5.                   OFFER: o BUYER OR x SELLER MAKES THIS COUNTER OFFER
ON THE TERMS ABOVE AND ACKNOWLEDGES RECEIPT OF A COPY.

	
  

  	
   

  	
  Date May 22, 2006

  
	
  JAMES
  R. CELLA

  	
   

  
	
   

  	
   

  	
     Date

  	
   

  

 

6.                   ACCEPTANCE: I/WE accept the above Counter Offer (If checked o SUBJECT TO THE ATTACHED COUNTER OFFER) and
acknowledge receipt of a Copy.

	
  

  	
   

  	
  Date May 22, 2006

  	
  Time  2:15         o AM x PM

  
	
  JACK WAUCHOPE

  	
   

  
	
   

  	
   

  	
     Date

  	
   

  	
   

  	
  Time

  	
   

  	
  o AM o PM

  
								

 

7.                   MULTIPLE COUNTER OFFER
SIGNATURE LINE: By signing below, Seller accepts this Multiple Counter Offer.

NOTE TO SELLER: Do NOT sign in this box until after Buyer
signs in paragraph 6. (Paragraph 7 applies only if paragraph 4 is checked.)

	
  

  	
   

  	
  Date

  	
  Time                   o AM o PM

  
	
   

  	
   

  
	
   

  	
   

  	
     Date

  	
   

  	
   

  	
  Time

  	
   

  	
  o AM o PM

  
								

 

8.                   (            /            )
(Initials) Confirmation of Acceptance: A
Copy of Signed Acceptance was personally received by the maker of the Counter
Offer, or that person’s authorized agent as specified in paragraph 3 (or, if
this is a Multiple Counter Offer, the Buyer or Buyer’s authorized agent as
specified in paragraph 4) on (date) May 22, 2006, at 2:00 o AMx PM. A binding Agreement is created when a Copy of Signed
Acceptance is personally received by the the maker of the Counter Offer, or
that person’s authorized agent (or, if this is a Multiple Counter Offer, the
Buyer or Buyer’s authorized agent) whether or not confirmed in this document.
Completion of this confirmation is not legally required in order to create a
binding Agreement; it is solely intended to evidence the date that Confirmation
of Acceptance has occurred.

The copyright laws of the United States (Title 17 U.S. Code) forbid the
unauthorized reproduction of this form, or any portion thereof, by photocopy
machine or any other means, including facsimile or computerized formats.
Copyright © 1986-2004, CALIFORNIA ASSOCIATION OF REALTORS®, INC. ALL RIGHTS
RESERVED. THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF
REALTORS® (C.A.R.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR
ADEQUACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS
THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL
OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL.

This
form is available for use by the entire real estate industry. It is not
intended to identify the user as a REALTOR®. REALTOR® is a registered
collective membership mark which may be used only by members of the NATIONAL
ASSOCIATION OF REALTORS® who subscribe to its Code of Ethics.

Published and Distributed by:

REAL ESTATE BUSINESS
SERVICES, INC.

a subsidiary of the California Association
of REALTORS®

525 South Virgil Avenue, Los Angeles, California 90020

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00113-of-00352.parquet"}]]