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Res21 15982
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Res21 15982
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Last modified
9/28/2021 10:45:36 AM
Creation date
9/28/2021 10:44:25 AM
Metadata
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Template:
CC Index
CC Index - Document Type
Resolution
Meeting Type
Joint
Agency Type
City Council and Successor Agency and Public Financing Authority
Date
9/13/2021
Description
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF REDWOOD CITY APPROVING THE PURCHASE AGREEMENT FOR THE BELOW MARKET RATE UNIT LOCATED AT 1231 WARREN STREET, UNIT 105, AND AUTHORIZING THE CITY MANAGER TO EXECUTE ALL NECESSARY DOCUMENTS TO EFFECTUATE THE ACQUISITION
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Property Address: 1231 Warren St., #105 Redwood City <br />21. <br />Date: 9/7/2021 <br />Brokers; (€) if Buyer's initial or any additional deposit or down payment is not made pursuant to this Agreement, or is not good at <br />lime of deposit with Escrow Holder; or (ii) if Buyer and Seller instruct Escrow Holder to cancel escrow. <br />E. A Copy of any amendment that affects any paragraph of this Agreement for which Escrow Holder is responsible shall be <br />delivered to Escrow Holder within 3 Days after mutual execution of the amendment. <br />REMEDIES FOR BUYER'S BREACH OF CONTRACT: <br />A. Any clause added by the Parties specifying a remedy (such as release or forfeiture of depositor making a deposit <br />non-refundable) for failure of Buyer to complete the purchase In violation of this Agreement shall be deemed invalid <br />unless the clause independently satisfies the statutory liquidated damages requirements set forth in the Civil Code <br />B. <br />ruse of Buyer's defaullj&r shall <br />'ry _ a dwelling w are than <br />Dunt re hall ore than 3% <br />Except as paragraph 14G, <br />ns from bo d Seller, judicial <br />D DEP ER LLER SHALL <br />OR _ HE INCREA POSIT AS <br />Buyer's Initials _/ Seller's Initials_) <br />22. DISPUTE RESOLUTION: <br />A. MEDIATION: The Parties agree to mediate any dispute or claim arising between them out of this Agreement, or any resulting <br />transaction, before resorting to arbitration or court action through the C.A.R. Real Estate Mediation Center for Consumers <br />(www.consumermediation.org) or through any other mediation provider or service mutually agreed to by the Parties. The <br />Parties also agree to mediate any disputes or claims with Broker(s), who, in writing, agree to such mediation prior <br />to, or within a reasonable time after, the dispute or claim is presented to the Broker. Mediation fees, if any, shall be <br />divided equally among the Parties involved. If, tar any dispute or claim to which this paragraph applies, any Party (i) commences <br />an action without first attempting to resolve the matter through mediation, or 01) before commencement of an action, refuses to <br />mediate after a request has been made. then that Party shall not be entitled to recover attorney fees, even if they would otherwise <br />be available to that Party in any such action. THIS MEDIATION PROVISION APPLIES WHETHER OR NOT THE ARBITRATION <br />PROVISION 1S INITIALED. Exclusions from this mediation agreement are specified in paragraph 22C. <br />B. ARBITR F DISPUTES: <br />The at any dispute or claim in Law or equity arising between them out ci ent <br />or any tion, which is not settled through mediation, shall be decide, ding <br />23. <br />arbitration. 'moo agree to arbitrate any disputes or claims with 11 writing, <br />agree to such aM 'n or within a reasonable time after, the dised to the <br />Broker. The arbitral. 'gyred judge or justice, or an attorney ' tears of residential <br />real estate Law experi0, parties mutually agree to a :.or. The Parties shall <br />have the right to discovery „- ith Code of Civil Pr r• trt all other respects, the <br />arbitration shall be conducted lr5 Title 9 of of Civil Procedure. Judgment <br />upon the award of the arbitrators) i,. °*ttr kg jurisdiction. Enforcement of this <br />agreement to arbitrate shall be governe- ..ri Act. Exclusions from this arbitration <br />agreement are specified in paragraph 22C. <br />"NOTICE: BY INITIALING IN THE '►RE AGREEING TO HAVE ANY DISPUTE <br />ARISING OUT OF THE MATTERS INCL r]F DISPUTES' PROVISION DECIDED <br />BY NEUTRAL ARBITRATION AG CALi, NND YOU ARE GIVING UP ANY <br />RIGHTS YOU MIGHT POSSDISPUTE L-OURT OR JURY TRIAL. BY <br />INITIALING IN THE SPAr" ARE GIVING UP YOUt=s . 'TS TO DISCOVERY AND <br />APPEAL, UNLESS TE SPECIFICALLY INCLUDED its 'TION OF DISPUTES' <br />PROVISION. IF Yr,- SUBMIT TO ARBITRATION AFTER AGFtr_ nROVISION, YOU <br />MAY BE CO! ,riBITRATE UNDER THE AUTHORITY OF THE C:r.-- nE OF CIVIL <br />PROCIF, �r�EEMENT TO THIS ARBITRATION PROVISION IS VOLUIr . <br />AND UNDERSTAND THE FOREGOING AND AGREE TO SUBMITG <br />OUT OF r HERS INCLUDED IN THE'ARBITRATION OF DISPUTES' PROVISION TO <br />ARBITRATI <br />Buyer's Initials Seller's Initials / <br />C. ADDITIONAL MEDIATION AND ARBITRATION TERMS: <br />(1) EXCLUSIONS: The following matters are excluded from mediation and arbitration: (i) a judicial or non -judicial <br />foreclosure or other action or proceeding to enforce a deed of trust, mortgage or installment land sale contract as <br />defined In Civil Code §2985; (li) an unlawful detainer action; and (Ili) any matter that is within the jurisdiction of a <br />probate, small claims or bankruptcy court. <br />(2) PRESERVATION OF ACTIONS: The following shall not constitute a waiver nor violation of the mediation <br />and arbitration provisions: (f) the filing of a court action to preserve a statute of limitations; (ii) the filing of <br />a court action to enable the recording of a notice of pending action, for order of attachment, receivership, <br />Injunction, or other provisional remedies; or (iii) the filing of a mechanic's lien. <br />(3) BROKERS: Brokers shall not be obligated nor compelled to mediate or arbitrate unless they agree to do so <br />in writing. Any Broker(s) participating in mediation or arbitration shall not be deemed a party to this Agreement. <br />SELECTION OF SERVICE PROVIDERS: Brokers do not guarantee the performance of any vendors, service or product providers <br />("Providers"), whether referred by Broker or selected by Buyer, Seller or other person. Buyer and Seller may select ANY Providers of <br />their own choosing. <br />Buyer's Initials(..,------ <br />RPA <br />nitials - <br />RPA REVISED 12/18 (PAGE 8 of 10) <br />Seller's Initials <br />❑PP6R,VHISY <br />CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA PAGE 8 OF 10) <br />MASTER COPY <br />
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