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<br />4 C A L I F O R N I A SELLER'S ADVISORY
<br />ASSOCIATION (C.A.R. Form SA, Revised 12115)
<br />or
<br />OF REALTORSO
<br />Property Address: Floating Homes (see list of Floating homes) Redwood City, CA 94063 ("Property")
<br />1. INTRODUCTION: Selling property in California is a process that involves many steps. From start to finish, it could take anywhere
<br />from a few weeks to many months, depending upon the condition of your Property, local market conditions and other factors. You
<br />have already taken an important first step by listing your Property for sale with a licensed real estate broker. Your broker will help
<br />guide you through the process and may refer you to other professionals; as needed. This advisory addresses many things you may
<br />need to think about and do as you market your Property. Some of these things are requirements imposed upon you, either by law or
<br />by the listing or sale contract. Others are simply practical matters that may arise during the process. Please read this document
<br />carefully and, if you have any questions, ask your broker or appropriate legal or tax advisor for help.
<br />2. DISCLOSURES:
<br />A. General Disclosure Duties: You must affirmativelydisclose to the buyer, in writing, any and all known facts that materially affect
<br />the value or desirability of your Property. You must disclose these facts whether or not asked about such matters by the buyer, any
<br />broker, or anyone else. This duty to disclose applies even if the buyer agrees to purchase your Property in its present condition
<br />without requiring you to make any repairs. If you do not know what or how to disclose, you should consult a real estate attorney in
<br />California of your choosing. Broker cannot advise you on the legal sufficiency of any disclosures you make. If the Property you are
<br />selling is a residence with one to four units except for certain subdivisions, your broker also has a duty to conduct a reasonably
<br />competent and diligent Visual inspection of the accessible areas and to disclose to a buyer all adverse material facts that the
<br />inspection reveals. If your broker discovers something that could indicate a problem, your broker must advise the buyer.
<br />B. Statutory Duties: (For one -to -four Residential Units):
<br />(1) You must timely prepare and deliver to the buyer, among other things, a Real Estate Transfer Disclosure Statement ("TOS"),
<br />and a Natural Hazard Disclosure Statement ("NHD"). You have a legal obligation to honestly and completely fill out the TDS
<br />form in its entirety. (Many local entities or organizations have their own supplement to the TDS that you may also be asked to
<br />complete.) The NHD is a statement indicating whether your Property is in certain designated flood, fire or earthquake/seismic
<br />hazard zones. Third -party professional companies can help you with this task.
<br />(2) Depending upon the age and type of construction of your Property, you may also be required to provide and, in certain cases
<br />you can receive limited legal protection by providing, the buyer with booklets entitled "The Homeowner's Guide to Earthquake
<br />Safety," "The Commercial Property Owner's Guide to Earthquake Safety," "ProtectYour Family From Lead in Your Home" and
<br />"Environmental Hazards: A Guide For Homeowners and Buyers." Some of these booklets may be packaged togetherfor your
<br />convenience. The earthquake guides ask you to answer specific questions about your Property's structure and preparedness
<br />for an earthquake. If you are required to supply the booklet about lead, you will also be required to disclose to the buyer any
<br />known lead-based paint and lead-based paint hazards on a separate form. The environmental hazards guide informs the
<br />buyer of common environmental hazards that may be found in properties.
<br />(3) If you know that your property is: (1) located within one mile of a former military ordnance location; or (ii) in or affected by a
<br />zone or district allowing manufacturing, commercial or airport use, you must disclosethis to the buyer. You are also required to
<br />make a good faith effort to obtain and deliverto the buyer a disclosure notice from the appropriate local agency(ies) about any
<br />special tax levied on your Property pursuant to the Mello -Roos Community Facilities Act, the Improvement Bond Act of 1915,
<br />and a notice concerning the contractual assessment provided by section 5898.24 of the Streets And Highways Code
<br />(collectively, "Special Tax Disclosures").
<br />(4) if the TDS, NHD, or lead, military ordnance, commercial zone or Special Tax Disclosures are provided to a buyer after you
<br />accept that buyer's offer, the buyer will have 3 days after delivery (or 5 days if mailed) to terminate the offer, which is why it is
<br />extremely important to complete these disclosures as soon as possible. There are certain exemptions from these statutory
<br />requirements; however, if you have actual knowledge of any of these items, you may still be required to make a disclosure as
<br />the items can be considered material facts.
<br />C. Death and Other Disclosures: Many buyers consider death on real property to be a materia) fact in the purchase of property. In
<br />some situations, it is advisable to disclose that a death occurred or the manner of death; however, California Civil Code Section
<br />1710.2 provides that you have no disclosure III r "where the death has occurred more than three years prior to the date the
<br />transferee offers to purchase, )ease, or rent the real property, or [regardless of the date of occurrence) that an occupant of that
<br />property was afflicted with, or died from, Human T -Lymphotropic Virus Type III/Lymphadenopathy-Associated Virus." This law
<br />does not "immunize an owner or his or her agent from making an intentional misrepresentationin response to a direct inquiry from a
<br />transferee or a prospective transferee of real property, concerning deaths on the real property."
<br />D. Condominiums and Other Common Interest Subdivisions: If the Property is a condominium, townhouse, or other property in a
<br />common interest subdivision, you must provide to the buyer copies of the governing documents, the most recent financial
<br />statements distributed, and other documents required by law or contract. If you do not have a current version of these documents,
<br />you can request them from the management of your homeowner's association. To avoid delays, you are encouraged to obtain
<br />these documents as soon as possible, even if you have not yet entered into a purchase agreement to sell your Property.
<br />3. CONTRACT TERMS AND LEGAL REQUIREMENTS:
<br />A. Contract Teens and Conditions: A buyer may request, as part of the contract for the sale of your Property, that you pay for
<br />repairs to the Property and other items. Your decision on whether or not to comply with a buyer's requests may affect your ability to
<br />sell your Property at a specified price.
<br />©1991-2015, California Association of REALTORSO, Inc. Sellers Initials ( ) O C
<br />SA REVISED 12115 (PAGE 1 OF 2)
<br />SELLER'S ADVISORY (SA PAGE 1 OF 21
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<br />ATTY/AGR2018.056/DOCKTOWN BROKER AGREEMENT Page 8 of 11
<br />REV: 03-19-18 RL
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