HomeMy WebLinkAboutURA RES 2014-05RESOLUTION NO. 2014-5
RESOLUTION AUTHORIZING THE APPROVAL OF THE PURCHASE AND SALE
AGREEMENT FOR PROPERTY AND IMPROVEMENTS KNOWN AS 4909 E.
LINDEN STREET.
WHEREAS, the Urban Renewal Agency of the City of Caldwell desires to purchase the
property and improvements known as 4909 E. Linden Street as described within the afore
attached Agreement for the purpose of future expansion of the Caldwell Industrial
Airport as needed;
THEREFORE BE IT HEREBY RESOLVED by the Urban Renewal Agency of the
City of Caldwell to approve the Purchase and Sale Agreement made a part hereof as set
forth in full.
PASSED BY THE URBAN RENEWAL AGENCY OF THE CITY OF
CALDWELL this 7"' day of October, 2014.
APPROVED BY THE CHAIRMAN OF THE URBAN RENEWAL AGENCY OF
THE CITY OF CALDWELL on this 7'11 day of October, 2014.
RZ
Chairman
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4�do •••.....•.. �O°S
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ATTEST:
Secretary
RE -24 VACANT LAND EDf1TOl
REAL ESTATE PURCHASE AND SALE AGREEMENT
THIS IS A LEGALLY BINDING CONTRACT, READ THE ENTIRE DOCUMENT, INCLUDING ANY ATTACHMENTS.
IF YOU HAVE ANY QUESTIONS, CONSULT YOUR ATTORNEY AND/OR ACCOUNTANT BEFORE SIGNING.
Page 1 of(
NO WARRANTIES, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF HABITABILITY, AGREEMENTS
OR REPRESENTATIONS NOT EXPRESSLY SET FORTH HEREIN SHALL BE BINDING UPON EITHER PARTY.
ID# 98479222
LISTING AGENCY Keller Williams Realty Boise Office Phone # 467-5959 Fax# 467.6060
Listing Agent Arvid Salisbury E -Mail asalfsburyrealestateQamail.com Phone # 989-5555
SELLING AGENCY Keller Williams Realty Rntse Office Phone # 467-5959 Fax# 467.8060
Selling Agent Arvid Salisbury E -Mail asalishuryrealestatek!�0mail corm Phone # 989.5555
e 1. BUYER
9 (Hereinafter called "BUYER) agrees to purchase, and the undersigned SELLER agrees to sell the following described real estate hereinafter referred to
10 as "PROPERTY" COMMONLY KNOWN AS 4909 F. Linden St.
11 Caldwell City Canyon County, ID, Zip 83605 legally described as:
12 Sec 25 -4N -3W SE SESE-SB.W of Drain LS TX 184
13 OR Legal Description Attached as exhibit na (Exhibit must accompany original offer and be signed or initialed by
14 BUYER and SELLER.)
15
16 2. $ 201.770.00 PURCHASE PRICE: Two Hundred One Thousand Seven Hundred Seventy DOLLARS,
iT payable upon the following TERMS AND CONDITIONS (not including closing costs):
1s 3. FINANCIAL TERMS: Note: A+C+D+E must add rip to total purchase price.
19
20 (A). S EARNEST MONEY: BUYER hereby deposits
21 DOLLARS as Earnest Money evidenced by: Ocash Opersonal check Ocashiel's check Onole (due date):
22 Mother See item #6 in Section 44 and a receipt is hereby acknowledged. Earnest Money to be deposited in trust account Oupon receipt or
23 Oupon acceplance by BUYER and SELLER or RotherSee item #6 in Section #4
24 and shall be held by: ❑Listing Broker OSelling Broker
25 Rother Pioneer Title Company, Caldwell Idaho. 83605 for the benefit of the parties hereto.
26 THE RESPONSIBLE BROKER SHALL BE
2e (B). ALL CASH OFFER: ONO ®YES If this Is an all cash offer do not complete Sections 3C and 3D, 1111 blanks with NIA (Not Applicable). IF
29 CASH OFFER BUYER'S OBLIGATION TO CLOSE SHALL NOT BE SUBJECT TO ANY FINANCIAL CONTINGENCY. BUYER agrees to provide
30 SELLER within 5 business days (five [51 if left blank) from the date of acceptance of this agreement by all parties, evidence of sufficient funds
31 and/or proceeds necessary to close transaction. Acceptable documentation includes, but is not limited to a copy of a recent bank or financial statement
32 or contract(s) for the sale of BUYER'S current residence or other properly to be sold.
33
34 (C). S NEW LOAN PROCEEDS: This Agreement is contingent upon BUYER obtaining the following financing:
35 OFIRST LOAN of $ not including mortgage Insurance, through OFHA, OVA, OCONVENTIONAL, DIHFA,
36 ❑RURAL DEVELOPMENT, DOTHER with interest not to exceed % fora period of year(s) at:
37 ❑Fixed Rale DOther . In the event BUYER is unable, after exercising good faith efforts, to obtain the indicated financing,
38 BUYER's Earnest Money shall be returned to BUYER.
39 OSECOND LOAN of $ with interest not to exceed % for a period of year(s) at: OFixed Rate
40 DOlher
41 LOAN APPLICATION: BUYER Dhas applied OR Oshall apply for such loan(s) within _ business days (five [5] if left blank) of SELLER'S
42 acceptance. Within business days (len [10] if left blank) of final acceptance of all parties, BUYER agrees to furnish SELLER with a written
43 confirmation showing lender approval of credit report, Income verification, debt ratios, and evidence of sufficient funds and/or proceeds
44 necessary to close transaction In a manner acceptable to the SELLER(S) and subject only to satisfactory appraisal and final lender
45 underwriting. If such written confirmation is not received by SELLER(S) within the strict time allotted, SELLER(S) may at their option cancel this
46 agreement by notifying BUYER(S) in writing of such cancellation within business days (three [3] if left blank) after written confirmation was
47 required. If SELLER does not cancel within the strict time period specified as set forth herein, SELLER shall be deemed to have accepted such written
48 confirmation of lender approval and shall be deemed to have elected to proceed with the transaction. SELLER'S approval shall not be unreasonably
49 withheld. If an appraisal is required by lender, the PROPERTY must appraise at not less than purchase price or BUYER'S Earnest Money shall be
50 returned at BUYER'S request. BUYER may also apply fora loan with different conditions and costs and close transaction provided all other terms and
61 conditions of this Agreement are fulfilled, and the new loan does not increase the costs or requirements to the SELLER. FHA / VA: If applicable, it is
52 expressly agreed that notwithstanding any other provisions of this contract, BUYER shall not be obligated to complete the purchase of the
sa PROPERTY described herein or to incur any penally or forfeiture of Earnest Money deposits or otherwise unless BUYER has been given in
54 accordance with HUDIFHA or VA requirements a written statement by the Federal Housing Commissioner, Veterans Administration or a Direct
65 Endorsement lender setting forth the appraised value of the PROPERTY of not less than the sales price as staled in the contract.
67 (D). $ ADDITIONAL FINANCIAL TERMS:
56 OAck itional financial terms are specified under the heading "OTHER TERMS ANDIOR CONDITIONS" (Section 4).
59 DAdditlonal financial terms are contained In a FINANCING ADDENDUM of Same dale, attached hereto, signed by both parties.
60
61 (E). $ 201.770.00 APPROXIMATE FUNDS DUE AT CLOSING: Cash at closing, not including closing costs, to be paid by BUYER at
62 closing, In GOOD FUNDS, which includes: cash, electronic transfer funds, certified check or cashiers check. Any net difference between the
63 approximate balances of the loan(s) shown above, which are to be assumed or taken subject to, and the actual balances of said loan(s) at closing of
64 escrow shalla adjus ed In OCash DOther: Cashier's check
�i?ti
BUYER'S Inilials M ( ) Date 09/24/2014 SELLER'S Initials ( )( ) Date
This form Is pdnled and dslnbuted by the Idaho Association of REALTORS0,, Inc. This form has been designed and is pnified far use by the real estate professionas who are members of the
Idaho Assoaabon of REALTORSS. USE BYANY OTHER PERSON IS PROHIBITED. ®Copyright Idaho Assodadon of REALTORS9, Inc. All rights reserved.
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT lgsta !t Page 1 of 6
Authentisfgn l D: 05607Fe2-60AE4914-A498-490654AA8C7D
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT Page 2 of 6
PROPERTY ADDRESS: 4909 E.Ltnden St. Caldwell 83605 ID#: 98479222
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4. OTHER TERMS AND/OR CONDITIONS:
1. Property is being sold In "As Is" condition
2. 40' by 100' cement block shop Included with no warranties as to condition or safety. There Is no value associated with the other structures
on the property. Property Is being sold as a vacant land to be developed.
3. Third party approval of sale required as Medicaid has a interest In the property and will need to sign off.
4. Selling Signature is from Marlene Pugsley, P.O.A. for the Dillon, Dallas and Fay Family trust.
5. There may be some areas of the contract that are handwritten. All parties agree this is OK and are a part of the accepted contract.
6. Buyer will deposit In the escrow with Pioneer Title Co., 610 S. Kimball Ave, Caldwell, Idaho, 83605, the full purchase of the contract upon
acceptance of offer by the seller. This will be the earnest money and the payoff combined.
7. Seller is allowed to remove any property, including trees, wood barns, personal belongings, cabinetry and any related items from shop prior
to closing.
5. "NOT APPLICABLE" DEFINED; The letters "n/a; "N/A; "n.a.; and "N.A." as used herein are abbreviations of the term "not applicable" Where this
agreement uses the lens "not applicable" or an abbreviation thereof, it shall be evidence that the parties have contemplated certain facts or conditions and
have determined that such facts or conditions do not apply to the agreement or transaction herein.
6. INSPECTION: BUYER IS STRONGLY ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF ALL ASPECTS OF THE PROPERTY
AND ALL MATTERS AFFECTING THE VALUE OR DESIRABILITY OF THE PROPERTY INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING:
A. SIZE: Square footage and lot size. (Any numerical statements regarding these items are APPROXIMATION ONLY, and have not been and will not be
verified and should not be relied upon by BUYER.
B. LINES AND BOUNDARIES: Properly lines and boundaries, septic, and leach lines (Fences, walls, hedges, and other natural or constructed barriers
or markers do not necessarily identify tme property boundaries. Property lines may be verified by surveys.)
C. ZONING AND LAND USE: Inquiries, investigations, studies or any other means concerning pas[, present or proposed laws, ordinances, referendums,
Initiatives, votes, applications and permits affecting the current use of the PROPERTY, BUYER's Intended use of the PROPERTY, future
development, zoning, building, size, governmental permits and inspections. Both parties are advised that Broker does not guarantee the status of
permits, zoning or code compliance. The parties are to satisfy themselves concerning these issues.
D. UTILITIES AND SERVICE: Availability, costs, and restrictions of utilities and services, including but not limited to, sewage, sanitation, water,
electricity, gas, telephone, cable TV and drainage.
E. UTILITIES, IMPROVEMENTS & OTHER RIGHTS: SELLER represents [hat the PROPERTY does have the following utilities, improvements, services
and other rights available (describe availability): power on the property. water and sewer across the street
F. HAZARDOUS MATERIALS: The real estate broker(s) or their agents in this transaction have no expertise with respect to toxic waste, hazardous
materials or undesirable substances. BUYERS who are concerned about the presence of such materials should have the PROPERTY inspected by
qualified experts. BUYER acknowledges that he/she has not relied upon any representations by either the Broker or the SELLER with respect to the
condition of the PROPERTY that are not contained in this Agreement or in any disclosure statements.
G. TAX LIABILITY: The BUYER and SELLER acknowledge [hat they have not received or relied upon any statements or representations by the Broker
with respect to the effect of this transaction upon BUYER's or SELLER's lax liability.
BUYER chooses 14to have inspection; ❑not to have inspection. If BUYER chooses not to have inspection skip the remainder of Section 6. BUYER shall
have the right to conduct inspections, investigations, tests, surveys and other studies at BUYER'S expense. BUYER shall, within 10 calendar days
(thirty [30] if left blank) of acceptance, complete these inspections and give to SELLER written notice of disapproved items or written notice of termination of
this Agreement based on an unsatisfactory inspection. BUYER is strongly advised to exercise these rights and to make BUYER'S own selection of
professionals with appropriate qualifications to conduct inspections of the entire PROPERTY. BUYER'S acceptance of the condition of the PROPERTY is
a contingency of this Agreement.
SATISFACTIONIREMOVAL OF INSPECTION CONTINGENCIES:
1). If BUYER does not within the strict time period specified give to SELLER written notice of disapproved items or written nolice of termination of this
Agreement, BUYER shall conclusively be deemed to have: (a) completed all inspections, investigations, review of applicable documents and disclosures;
(b) elected to proceed with the transaction and (c) assumed all liability, responsibility and expense for repairs or corrections other than for items which
SELLER has olherwise agreed in writing to repair or correct.
2). If BUYER does within the strict time period specified give to SELLER written notice of termination of this Agreement based on an unsatisfactory
inspection, the parties will have no obligation to continue with the transaction and the Earnest Money shall be returned to BUYER.
3). If BUYER does within the strict time period specified give to SELLER written notice of disapproved items, BUYER shall provide to SELLER
pertinent section(s) of written Inspection reports. SELLER shall have 0 business days (three [3) If left blank) in which to respond In writing.
SELLER, at SELLER's option, may correct the items as specified by BUYER in their letter or may elect not to do so. If both parties agree within 0
business days (three [3) if left blank) of receipt of SELLER's response, in writing, as to the items to be corrected by SELLER, then both parties agree that
they will continue with the transaction and proceed to closing. This will remove BUYER'S Inspection contingency.
4). If both parties do not come to a consensus as to the disapproved items to be corrected by SELLER within the strict time period specified, or SELLER
does not respond in writing within the strict time period specified, then the BUYER has the option of either continuing the transaction without the SELLER
being responsible for correcting these deficiencies or giving the SELLER written notice within -0- business days (three [3] if left blank) that they will
not continue with the transaction and will receive their Earnest Money back.
5). If BUYER does not give such written notice of cancellation within the strict lime periods specified, BUYER shall conclusively be deemed to have
elected to proceed with the transaction without repairs or corrections other than for items which SELLER has otherwise agreed in writing to repair or
correct. SELI-ErshalrTake the PROPERTY available for all Inspections. BUYER shall keep the PROPERTY free and clear of liens; indemnify and hold
el&
BUYER'S Initials ( 1 Dale 09/24/2014 SELLER'S Initials ( )( 1 Date
This form is printetl and dstribuled by the Idaho Association of REALTORS'a, Inc The form has been designed and Is Presided for use by the real estate prosessiones who are memhers of Bre
Idaho Assodalon of REALTORS& USE BY ANY OTHER PERSON IS PROHIBITED. ®Copyright Idaho Association of REALTORS&, Inc. All rights reserved_
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT ,Q a� page 2 of 6
fOM1S
Aulhenlislgn 1D: 056D7F82-60AE-0914 A498 490554AMC7D
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT
Page 3 of 6
PROPERTY ADDRESS: 4909 E Linden St. Caldwell 83605 ID#: 98479222
135 SELLER harmless from all liability, claims, demands, damages and costs; and repair any damages arising from the inspections. No inspections may be
136 made by any governmental building or zoning inspector or government employee without the prior consent of SELLER unless required by local law. No
137 inspections may be made by any governmental building or zoning Inspector or government employee without the prior consent of SELLER,
138 unless required by local law.
139 7. TITLE CONVEYANCE: Tille of SELLER is to be conveyed by warranty deed, unless otherwise provided, and is to be marketable and insurable except
140 for rights reserved in federal patents, state or railroad deeds, building or use restrictions, building and zoning regulations and ordinances of any
141 governmental unit, and rights of way and easements established or of record. Liens, encumbrances or defects to be discharged by SELLER may be paid out
142 of purchase money at date of closing. No liens, encumbrances or defects, which are to be discharged or assumed by BUYER or to which title Is taken
143 subject to, exist unless otherwise specified in this Agreement.
144
145 8. TITLE INSURANCE: There may be types of title insurance coverages available other than those listed below and parties to this agreement
146 are advised to talk to a title company about any other coverages available thatwill give the buyer additional coverage.
147
148 (A). PRELIMINARY TITLE COMMITMENT: Within__ PL business days (six [6] if left blank) prior to closing the transaction, ®SELLER or OBUYER
149 shall furnish to BUYER a preliminary commitment of a title insurance policy showing the condition of the title to said PROPERTY.
150 BUYER shall have._ 0_ business days (Ove [5] if left blank) from receipt of the preliminary commitment, within which to object in writing to the condition
151 Of the title as set forth in the preliminary commitment. If BUYER does not so object, BUYER shall be deemed to have accepted the conditions of the title.
152 It is agreed that if the title of said PROPERTY is not marketable, or cannot be made so within r business days (five [5] if left blank) after notice
153 containing a written statement of defect is delivered to SELLER, BUYER'S Earnest Money deposit shall be returned to BUYER and SELLER shall pay
154 for the cost of title insurance cancellation fee, escrow and legal fees, if any.
155 (B). TITLE COMPANY: The parties agree that Pioneer Title Company located
156 at 610 S. Kimball Ave. Caldwell Id 83605 shall provide the title policy and preliminary report of commitment.
157 (C). STANDARD COVERAGE OWNER'S POLICY: SELLER shall within a reasonable time after closing furnish to BUYER a title Insurance policy in the
156 amount of the purchase price of the PROPERTY showing marketable and insurable title subject to the liens, encumbrances and defects elsewhere set
159 out In this Agreement to be discharged or assumed by BUYER unless otherwise provided herein. The risk assumed by the title company in the
160 standard coverage policy Is limited to matters of public record. BUYER shall receive a ILTA/ALTA Owners Policy of Title Insurance. A title
161 company, at BUYER' request, can provide information about the availability, desirability, coverage and cost of various title insurance coverages and
162 endorsements. If BUYER desires title coverage other than that required by this paragraph, BUYER shall instruct Closing Agency in writing and pay any
163 increase in cost unless otherwise provided herein.
164 (D). EXTENDED COVERAGE LENDER'S POLICY (Mortgagee policy): The lender may require (hat BUYER (Borrower) furnish an Extended Coverage
165 Lenders Policy. This extended coverage lenders policy considers matters of public record and additionally insures against certain matters not shown in
1% the public record. This extended coverage lender's policy is solely for the benefit of the lender and only protects the lender.
167
168 9. COVENANTS, CONDITIONS AND RESTRICTIONS (CC&Rs): As part of the BUYER'S inspection of the PROPERTY as set forth in Section 6,
169 BUYER is responsible for obtaining and reviewing a copy of any CC&Rs which may affect the PROPERTY. BUYER shall have 0 business days (len
170 [10] if left blank) (but in no event shall such time period exceed that time period set forth for inspections in Section 6) to review and approve of any such
171 CC&Rs that may affect the PROPERTY. Unless BUYER delivers to SELLER a written and signed objection to the terms of any applicable CC&Rs with
172 particularity describing BUYER'S reasonable objections within such time period as set forth above, BUYER shall be deemed to have conclusively waived
173 any objection to the terms of any CC&Rs affecting the PROPERTY.
174
175 10. SUBDIVISION HOMEOWNER'S ASSOCIATION: BUYER is aware that membership in a Home Owners Association may be required and
176 BUYER agrees to abide by the Articles of Incorporation, Bylaws and rules and regulations of the Association. BUYER is further aware that the PROPERTY
177 may be subject to assessments levied by the Association described in full in (he Declaration of Covenants, Conditions and Restrictions.
178 BUYER has reviewed Homeowners Association Documents: OYes ONO II Association fees/dues are $ 0 per 0
179 OBUYER OSELLER NN/A to pay Homeowners Association SET UP FEE of $_0 and/or PROPERTY TRANSFER FEES of $_Q_ at closing.
180
1131 11. INTERSTATE LAND SALES FULL DISCLOSURE ACT: This Vacant Land Real Estate Purchase and Sale Agreement is NOT Intended to
182 be used for situations In which Seller owns and Is selling one hundred (100) or more lots. Properties containing one hundred (100) or more lots for
183 sale may be subject to the reporting and disclosure requirements of the Interstate Land Sales Full Disclosure Act ("Act's, 15 USC § 1701 at seq. If you have
1134 questions regarding this Act, contact your attorney before signing. Any contract or agreement for the sale or lease of a lot subject to the Act may be revoked
185 at the option of the purchaser or lessee until midnight of the seventh day following the signing of such contract or agreement or until such later time as may
les be required pursuant to applicable law. Any contract or agreement for the sale or lease of a lot for which a property report is required by the Act and the
1137 property report has not been given to the purchaser or lessee in advance of his or her signing such contract or agreement, such contract or agreement may
188 be revoked at the option of the purchaser or lessee within two (2) years from the dale of such signing.
189
loo 12. FARM/CROPS/TIMBER RIGHTS: SELLER, or any tenant of SELLER, shall be allowed to harvest, sell or assign any annual crops which have been
lot planted on the PROPERTY prior to the dale of (his Contract, even though said harvest lime may occur subsequent to the date of the settlement of this
192 contract, unless otherwise agreed by attached addendum. If the crop consists of timber, then neither SELLER nor any tenant of SELLERS shall have any
193 right to harvest the limber unless the right to remove same shall be established by an attached addendum. Notwithstanding the provisions hereof, any tenant
194 who shall be leasing the PROPERTY shall be allowed to complete the harvest of any annual crops that have been planted prior to the date of Contract
195 Acceptance as previously agreed between SELLER and Tenant. ANY AND ALL SUCH TENANT AGREEMENTS ARE TO BE ATTACHED.
196
197 13. NOXIOUS WEEDS: BUYER of the PROPERTY in the Stale of Idaho should be aware that some properties contain noxious weeds. The laws of the
19a Slate of Idaho require owners of property within this slate to control, and to the extent possible, eradicate noxious weeds. For more information concerning
199 noxious weeds and your obligations as an owner of property, contact your local county extension office.
200
201 14. MINERAL RIGHTS: Any and all mineral rights appurtenant to the PROPERTY are included in and are part of the sale of [his PROPERTY unless
2o2 otherwise agreed tfFby the arties in writing.
e._
BUYER'S Initials Q I( )Dale 09/24/2014 SELLER'S Initials ( )( )Date
This form Is pentad and distributed by die Idaho Assodalion of REALTORSB, Inc This ions has been designed antl Is promded for use by the real estate professionalswho are members of the
Idaho Association of RFArTORS0. USE BYANY OTHER PERSON IS PROHIBITED. ®Copyright Idaho Assoc athm of REALTORS`., Inc. RI rights fesevel
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT lgstai& Page 3 of 6
Aothentaign on 066D7F82-60AE4914-A498-490664AASC70
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT
Page 4 of 6
PROPERTY ADDRESS: 4909 E. Linden St. Caldwell 83605 ID#: 98479222
203 16. WATER RIGHTS: Any and all water rights including but not limited to water systems, wells, springs, lakes, streams, ponds, rivers, ditches, ditch rights,
204 and the like, if any, appurtenant to the PROPERTY are included in and are a part of the sale of this PROPERTY unless otherwise agreed to by the parlies in
205 writing.
206
207 16. RISK OF LOSS OR NEGLECT: Prior to closing of this sale, all risk of loss shall remain with SELLER. In addition, should the PROPERTY be
208 materially damaged by fire, neglect, or other destructive cause prior to closing, this agreement shall be voidable at the option of the BUYER.
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17. BUSINESS DAYS: A business day is herein defined as Monday through Friday, 8:00 A.M. to 5:00 P.M. in the local time zone where the subject real
PROPERTY is physically located. A business day shall not include any Saturday or Sunday, nor shall a business day include any legal holiday recognized
by the stale of Idaho as found in Idaho Code §73-108. The time in which any act required under this agreement is to be performed shall be computed by
excluding the date of execution and including the last day. The first day shall be the day after the date of execution. If the last day is a legal holiday, then the
time for performance shall be the next subsequent business day.
18. CALENDAR DAYS: A calendar day is herein defined as Monday through Sunday, midnight to midnight, In the local time zone where the subject real
PROPERTY is physically located. A calendar day shall include any legal holiday. The time in which any act required under this agreement is to be performed
shall be computed by excluding the dale of execution and including the last day, thus the first day shall be the day after the date of execution. Any reference
to "day" or "days" in this agreement means the same as calendar day, unless specifically enumerated as a "business day."
19. SEVERABILITY: In the case that any one or more of the provisions contained in this Agreement or any application thereof, shall be invalid, illegal or
unenforceable in any respect, the validity, legality or unenforceability of the remaining provisions shall not in any way be affected or impaired thereby.
20. TRANSMISSION OF DOCUMENTS: Facsimile or electronic transmission of any signed original document, and retransmission of any signed
facsimile or electronic transmission shall be the same as delivery of an original. Al the request of either the BUYER or SELLER, or the LENDER, or the
Closing Agency, the BUYER and SELLER will confirm facsimile or electronic transmitted signatures by signing an original document.
21. COUNTERPARTS: This Agreement may be executed in counterparts. Executing an agreement in counterparts shall mean the signature of two
identical copies of the same agreement. Each identical copy of an agreement signed in counterparts is deemed to be an original, and all Identical copies
shall together constitute one and the same instrument.
22. ENTIRE AGREEMENT: This Agreement contains the entire Agreement of the parties respecting the matters herein set forth and supersedes all prior
Agreements between the parties respecting such matters.
23. SALES PRICE INFORMATION: Pursuant to Idaho Code §54-2083(6)(4), a "sold" price of real property Is not confidential client information.
24. ADDITIONAL CONTINGENCIES AND COSTS: The closing of this transaction Is contingent upon written satisfaction or waiver of the
contingencies listed in the "contingencies' column below. In addition, the parties shall satisfy all contingencies set forth in this section by close of business
(Date): 10-10-14 unless otherwise agreed to by the parties in writing. The parties agree to pay the following costs as indicated below. None of the costs
to be paid by the parties in this section creates an inspection or performance obligation other than strictly for the payment of costs. There may be other costs
Incurred in addition to those set forth below. Such costs may be required by the lender, by law, or by other such circumstances.
Upon closing SELLER agrees to pay up to EITHER 0 % (NIA if left blank) of the purchase price OR $ .00 (NIA if left blank)
of lender -approved BUYER'S closing costs, lender fees, and prepaid costs which includes but is not limited to those Items in BUYER columns
marked below.
09/24/2014
BUYER'S Initials ( ) Date SELLER'S Initials ( 1( ) Date
this form Is printed and dslnbutetl by the Idaho Associatlon of REALTORS®, Inc. This form has been desl9red and Is prodded for use by the real estate professionals who are members of the
Idaho Association of REALTORSS. USE BY ANY OTHER PERSON IS PROH IaITED. ®Copyright Idaho Association of REALTORSS, Inc All rights reserved.
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT ,1iN%m8lat Page 4 of 6
Shared
Shared
COSTS
BUYER
SELLER
Equally
NIA
CONTINGENCIES
BUYER
SELLER
Equally
NIA
Appraisal Fee
Environmental Inspection (Phase 1)
X
K
Long Term Escrow Fees
Environmental Inspection (Phase 2)
X
K
Closing Escrow Fee
Environmental Inspection (Phase 3)
X
K
Survey
PERC Test
X
X
Flood CertiffcaliordTracking Fee
Zoning Variance
K
K
Title Ins. Standard Coverage Owner's
Soil(s) Test(s)
Policy
X
K
Title Ins. Extended Coverage
Hazardous Waste Report(s)
Lender's Policy — Mortgagee Policy
X
X
Additional Title Coverage
K
Water Rights Transfer Fee
K
Alforney Contract Preparation or Review
Fee
X
09/24/2014
BUYER'S Initials ( ) Date SELLER'S Initials ( 1( ) Date
this form Is printed and dslnbutetl by the Idaho Associatlon of REALTORS®, Inc. This form has been desl9red and Is prodded for use by the real estate professionals who are members of the
Idaho Association of REALTORSS. USE BY ANY OTHER PERSON IS PROH IaITED. ®Copyright Idaho Association of REALTORSS, Inc All rights reserved.
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT ,1iN%m8lat Page 4 of 6
Aufhenlis1gn 10: 06607F$2.60AE4914-A498-490654AABC7D
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT Page 6 of 6
PROPERTY ADDRESS: 4909 E Linden St. Caldwell 83605 ID#: 98479222
246 26. DEFAULT: If BUYER defaults in the performance of this Agreement, SELLER has the option of: (1) accepting the Earnest Money as liquidated
247 damages or (2) pursuing any other lawful right or remedy to which SELLER may be entitled. If SELLER elects to proceed under (1), SELLER shall make
248 demand upon the holder of the Earnest Money, upon which demand said holder shall pay from the Earnest Money the costs incurred by SELLER's Broker
249 on behalf of SELLER and BUYER related to the transaction, including, without limitation, the costs of title Insurance, escrow fees, credit report fees,
250 inspection fees and attorney's fees; and said holder shall pay any balance of the Earnest Money, one-half to SELLER and one-half to SELLER's Broker,
251 provided that the amount to be paid to SELLER'S Broker shall not exceed the Brokers agreed -to commission. SELLER and BUYER specifically
252 acknowledge and agree that if SELLER elects to accept the Earnest Money as liquidated damages, such shall be SELLER's sole and exclusive remedy, and
253 such shall not be considered a penalty or forfeiture. If SELLER elects to proceed under (2), the holder of the Earnest Money shall be entitled to pay the
254 costs incurred by SELLER's Broker on behalf of SELLER and BUYER related to the transaction, including, without limitation, the costs of brokerage fee, title
255 Insurance, escrow fees, credit report fees, inspection fees and attorneys fees, with any balance of the Earnest Money to be held pending resolution of the
256 matter. If SELLER defaults, having approved said sale and fails to consummate the same as herein agreed, BUYER's Earnest Money deposit shall be
257 returned to himther and SELLER shall pay for the costs of title insurance, escrow fees, credit report fees, inspection fees, brokerage fees and attorney's
259 fees, if any. This shall not be considered as a waiver by BUYER of any other lawful right or remedy to which BUYER may be entitled.
259
26o 26. EARNEST MONEY DISPUTE / INTERPLEADER: Notwithstanding any termination or breach of this Agreement, BUYER and SELLER agree that
261 in the event of any controversy regarding the Earnest Money and things of value held by Broker or closing agency, Broker may reasonably rely on the terms
262 of this Agreement or other written documents signed by both parties to determine how to disburse the disputed money. However, Broker or closing agency
2s3 shall not be required to take any action but may await any proceeding, or at Brokers or closing agency's option and sole discretion, may interplead all parties
264 and deposit any moneys or things of value into a court of competent jurisdiction and shall recover all costs which were incurred as a result of the dispute
2e5 Including, but not limited to, reasonable attorney's fees. If either parties' Broker incurs attorney's fees as a result of any Earnest Money dispute, whether or
266 not formal legal action is taken, said Broker is entitled to recover actual fees incurred from either BUYER or SELLER.
267
268 27. ATTORNEY'S FEES: If either party Initiates or defends any arbitration or legal action or proceedings which are in any way connected with [his
269 Agreement, the prevailing party shall be entitled to recover from the non -prevailing party reasonable costs and attorney's fees, Including such costs and fees
270 on appeal.
271
272 28. TIME IS OF THE ESSENCE IN THIS AGREEMENT.
273
274 29. CLOSING: On or before the closing date, BUYER and SELLER shall deposit with the dosing agency all funds and instruments necessary to complete
275 this transaction. Closing means the date on which all documents are either recorded or accepted by an escrow agent and the sate proceeds are
276 available to SELLER. The closing shall be no later than (Date) October 17th 2014
277 The parties agree that the CLOSING AGENCY for this transaction shall be Pioneer Title
278 located at 610 S Kimball Ave Caldwell, Idaho 83605 If a long-term escrow /collection is Involved, then the long-term escrow holder
279 shall be na
290
281 30. POSSESSION: BUYER shall be entitled to possession Mupon closing or ❑date at Dam ❑pm.
282
283 31. PRORATIONS: Property taxes and water assessments (using the last available assessment as a basis), rents, interest and reserves, liens,
284 encumbrances or obligations assumed, and utilities shall be prorated as of closing
265 BUYER to reimburse SELLER for fuel in tank ❑ Yes 19 No (Not Applicable if left blank). Dollar amount may be determined by SELLER's supplier.
286
287 32. SPECIAL CONSIDERATIONS AND CONTINGENCIES: This Agreement is made subject to the following special considerations and/or
208 conlinaencies which must be satisfied Briar to closina,
289 1. As mentioned on page 2, Section 4, Purchase is subject to Seller receiving satisfactory end
291 result with Medicaid to be able to convey property to buyer.
292
293
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295
296 33. REPRESENTATION CONFIRMATION: Check one (1) box in Section 1 and one (1) box in Section 2 below to confinn that in this transaction, the
297 brokerage(s) involved had the following relationship($) with the BUYER(S) and SELLER(S).
298 Section 1:
299 ❑ A. The brokerage working with the BUYER(S) Is acting as an AGENT for the BUYER(S).
300 ❑ B. The brokerage working with the BUYER(S) is acting as a LIMITED DUAL AGENT for the BUYER(S), without an ASSIGNED AGENT.
301 ❑ C. The brokerage working with the BUYER(S) is acting as a LIMITED DUAL AGENT for the BUYER(S) and has an ASSIGNED AGENT
302 acting solely on behalf of the BUYER(S).
303 ® D. The brokerage working with the BUYER(S) is acting as a NONAGENT for the BUYER(S).
904
305 Section 2:
306 ® A. The brokerage working with the SELLER(S) is acting as an AGENT for the SELLER(S).
307 ❑ B. The brokerage working with the SELLER(S) is acting as a LIMITED DUAL AGENT forthe SELLER(S), without an ASSIGNED AGENT.
We ❑ C. The brokerage working with the SELLER(S) is acting as a LIMITED DUAL AGENT for the SELLER(S) and has an ASSIGNED AGENT
309 acting solely on behalf of the SELLER(S).
310 ❑ D. The brokerage working with the SELLER(S) is acting as a NONAGENT for the SELLER(S).
311 Each party signing this document confirms that he has received, read and understood the Agency Disclosure Brochure adopted or approved by the Idaho
312 real estate commission and has consented to the relationship confirmed above. In addition, each party confirms that the brokerage's agency office policy
313 was made available for inspection and review. EACH PARTY UNDERSTANDS THAT HE IS A "CUSTOMER" AND IS NOT REPRESENTED BY A
314 BROKERAGE UN ESS THIERE IS A SIGNED WRITTEN AGREEMENT FOR AGENCY REPRESENTATION.
e
BUYER'S Initials I I( ) Date 09/24/2014 SELLER'S Initials Date
This roan is pnnted and ofshiibufed by the Idaho Assodation of REALTORS§,, Incl This form has been destined aM is proeded far use by the real estate professionals who are members of the
Idaho Association of RFALTORSSD. USE BY ANY OTHER PERSON IS PROHIBITED. OCopynahl Itlaho Assodafion of REALTORS, Inc. AI n9hts reserved_
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT,5& Page 6 of 6
Aulhenlislgn lo: 056D7F82.60AE4914-A498 490554AABC70
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT
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Page 6 of 6
PROPERTY ADDRESS: 4902 E. ind nSr Caldwell 83605 ID#: 98479222
34. ASSIGNMENT: This Agreement and any fights or interests created herein 0 may W may not be sold, transferred, or otherwise assigned.
36. ACCEPTANCE: This offer is made subject to the acceptance of SELLER and BUYER on or before (Date) 10.7-14 at (Local Time in
which PROPERTY is located) 5:00 DA.M. MP.M.
36. BUYER'S SIGNATURES:
OSEE ATTACHED BUYER'S ADDENDUM(S): (Specify number of BUYER addendum(s) attached.)
BUYER Odoes Mdoes not currently hold an active Idaho real estate license. BUYER O IS 10 IS NOT related to agent.
71680616 9E61
BUYER Si nature I
0 enmze � n 8o eo-�l6— BUYER (Print Named Caldwell Urban Renewal Agency
Date 09/24/2014 Time OA.M. OP.M. Phone# Cell#
E -Mail
State Zip
-------------------------------------------------------------------------------------------------------
BUYER Odoes Odoes not currently hold an active Idaho real estate license. BUYER O IS D IS NOT related to agent.
BUYER Signature BUYER (Print Name) EIJay Waite signatory
Date
Time
City Slate
OP.M. Phone #
Zip Fax
37. SELLER'S SIGNATURES: On this date. INVe hereby approve and accept the transaction set forth in the above Agreement and agree to carry out all
the terms thereof on the part of the SELLER.
DSIGNATURE(S) SUBJECT TO ATTACHED COUNTER OFFER
OSIGNATURE(S) SUBJECT TO ATTACHED ADDENDUM(S) #
SELLER Odoes Odoes not currently hold an active Idaho real estate license. SELLER O IS 0 IS NOT related to agent.
SELLER Signature SELLER (Print
Date Time DA.M. OP.M. Phone#
Address E -Mail
City State Zip Fax#
SELLER Odoes Odoes not currently hold an active Idaho real estate license. SELLER O IS D IS NOT related to agent.
SELLER Signature SELLER (Print
Date
Time
State
OP.M. Phone#
LATE ACCEPTANCE
If acceptance of this offer is received after the time specified, it shall not be binding on the BUYER unless BUYER approves of said acceptance within
calendar days (three (3) if left blank) by BUYER inilialing HERE . If BUYER timely approves of SELLER's late acceptance, an initialed copy of
this page shall be immediately delivered to SELLER.
This farm Is pnnied and distrbuted by the Idaho Association of REALTORS®, Inc This form has been designed and is provided for use by ft real estate Professionals who we members of the
Who Association of REALTORS. USE BY ANY OTHER PERSON IS PROHIBITED. CCopynght Idaho Assodabon of REALTORS, Inc All fights reserved.
JULY 2014 EDITION RE -24 VACANT LAND PURCHASE AND SALE AGREEMENT 18ia--� Page 6 of 6
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