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f r L 1'4 l i 5 - 5• .. y J U.L 0 1998 i RA55 i 2 }- \ h lNll lV1Y�V El'^!W 1L T, S-EAMLES 4�,} 15 1141% 1 - ti S • 4 - FL � � 'I 5 L � ly L � 41 � L � t � •- ' STANDARD OPTION TO LURCH/' Irrevocable Right-to-Bray ^ � ,Califorh}a. 19 !Z ,at_� F DATE: e — ed below: . .. � a able as not Option Money: Optionor herewith receives from Optionee op- Sale Terms:Price of$ p Y tion r�r�nney in the amount of$� JD.r�- evidenced by 1 ❑ All cash. I4-6sh,❑ check,or(] given in consideration for this option to purchase. 2. Cash down payment in the amount of$_ - Real Property Des ription: 3. Assume a trust deed note with a balance of$ 9w-" Real interest not to exceed %, ❑ V1R, payabe approxi- Address: s. mately$ monthly over the loan's remaining life, impounds being $ monthly. 'I Legal Description: 3.1 Loan balance differences to be adjusted in 4. Assume a trust deed note with a E alance' of$_ option Period:Optionor hereby grants to Optionee the irrevocable Interest not to exceed %, Payable approximately . I i option to purchase the Optionors rights, title and interest in the $ monthly,due and payable prapeity on the terms stated, for a period commencing with the 5. q NOTE for the balance of the purchase price in the amount of acceptance of this option and expiring 1 1 $ to be executed by Buyer in favor of Seiler and Exercise of Option: Optionee may exercise this option during secured by a trust deed on the property being purchased, the option period by: payable$ monthly or more,starting one month after 1. Preparing and signing escrow instructions, identical in pravi• closing, including interest at'—% from closing, due and sions to those attached as Exhibit 'A,'and payable years after closing. i5.1 This note and trust deed,to contain provisions to be provid- 2. Depositing cash in escrow_pf$ ,_and _ . . -:.:.._. .�_-. ed by Optionor far: '�.. �— .• ...-- 3. Delivering a certified copy of the signed escrow instructions to Optionor, within the opti6n period, in person or by cer- ❑ due-on-sale, ❑ prepayment penalty, ❑ late charges tified mail. 5.2❑ The attached Carryback Disclosure Statement is an ad- dendum Escrow Contract: In the event this option is exercised,.the trans to this agreement {mandatory on four or less +� action shall be escrowed with- residential units). 5.3 Buyer to provide a Request for Notice of Delinquency to Escrow shall close within 3.0 days after exer ise of option. senior encumbrancers. Delivery of Title: Within 30 days after exercise, Optionor General Provisions (Items left blank or unchecked, not applicable): I shall place all documents and instruments into escrow necessary 1 P-<;addendum for additional provisions. I to dose within the escrow period. ' Additional Consideration: As'further consideration for this op- 2. ❑-See attacked Seller's.improvement (transfer) Disclosure. I tion and at Optionee's expense, Optionee to obtain and deliver 3. Buyer has inspected the property and improvements. up to Optionor the following checked studies and reports:ors. , i ❑ Property report b licensed California selrve 4•'❑ This property is located in a Special Studies Zone and a i p m' surve Y p y Y geologic report may be required prior to issuance of 'any ❑ Application fora parcel map or waiver. ❑ Application for a conditional use permit. building permit for construction, additions or alterations to the ❑ Land use study. ❑ Architectural plans and specifications. property or its improvements. ❑ Soil engineer's report. ❑ Zoning ordinance request. 5. Possession''of the property to be delivered an: Enclose of I f ❑ Off-site improvement plans. ❑ On-site engineering plans. escrow, or ❑ see attached Occupancy Agreement. ' Brokerage Fee: Optionor agrees to pay a brokerage fee of 6. Both parties reserve their rights to assign and agree to cooperate zzal z of the selling pricy 1F: in effecting an Internal Revenue Code 1031 exchange prior to 1. This option is exercised; =close of esc"r'ow, on either partys-Written-notice.- - -�--- »-• '� 2. Within one year after expiration of option period and any ex- 7. In any legal action between Optionee and Optionor arising out ? tension or renewal, Optionor enters into an agreement to of this agreement, the prevailing party shall be entitled to sell, lease or exchange with Optionee, or their assigns; or reasonable attorney's fees and costs. 3. Optionor wrongfully prevents the exercise of this option. I' To Broker: 1'l.an>f Expiration of Option:This offer to seIl shalt be deemed expired if j T ------ not accepted by exercise during the option period. Notwithstand- Address: ing any of these provision this con act sh II automatically expire Phone( .) and terminate on , 19' I hereby grant this option/and a ree to perform under its terms. I hereby accept this option a d agto perform under its terms. Date: D , 19 ! 3 Date: , 19 _ Optiono>'s Name: - Q C Optionee`s Name: S' Address: 4 Address: 'I Phone(�249) � 12C on O a I Optionor's Sign- Optionee's Signat Brokers Approval: FORM 161 EXHIBIT "C" 168,RIVERSIDE,CA92516 Tel:(714)781-7300