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Property Address: 1231 Warren St., #105 Redwood City Date: 0/7/2021 4. OR H. VERIFICATION OF DOWN PAYMENT AND CLOSING COSTS: Buyer (or Buyer's lender or loan broker pursuant to paragraph 3J(1)) shall, within 3 (or _) Days After Acceplance, Deliver to Seller written verification of Buyer's down payment and closing costs. (C Verification attached.) J. APPRAISAL CONTINGENCY AND REMOVAL. This Agreement is (or ❑ is NOT) contingent upon a written appraisal of the Property by a licensed or certified appraiser at no less than the purchase price. Buyer shall, as specified in paragraph 14B(3), in writing, remove the appraisal contingency or cancel this Agreement within 17 (or —) Days After Acceptance. J. LOAN TERMS: (1) LOAN APPLICATIONS. Within 3 (or —) Rays After Acceptance, Buyer shall Deliver to Seller a letter from Buyer's lender or 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 in paragraph 3D. If any loan specified in paragraph 3D is an adjustable rate loan, the prequalificatlon or preapproval letter shall be based on the qualifying rate, not the initial loan rate. (Ll Letter attached.) (2) LOAN CONTINGENCY: Buyer shall act diligently and In good faith to obtain the designated loan(s). Buyers qualification for the loans) specified above Is a contingency of this Agreement unless otherwise agreed in writing. If there is no appraisal contingency or the appraisal contingency has been waived or removed, then failure of the Property to appraise at the purchase price does not entitle Buyer to exercise the cancellation right pursuant to the loan contingency if Buyer is otherwise qualified for the specified loan. Buyer's contractual obligations regarding deposit, valance of down payment and closing costs are not contingencles of this Agreement. (3) LOAN CONTINGENCY REMOVAL: Within 21 (or —) Days After Acceptance, Buyer shall, as specified in paragraph 14, in writing, remove the loan contingency or cancel this Agreement. It there is an appraisal contingency, removal of the loan contingency shall not be deemed removal of the appraisal contingency. (4) ❑ NO LOAN CONTINGENCY. Obtaining any loan specified above is NOT a contingency of this Agreement. If Buyer does not obtain the loan and as a result does not purchase the Property, Seller may be entitled to Buyer's deposit or other legal remedies. (5) LENDER LIMITS ON BUYER CREDITS: Any credit to Buyer, from any source, for closing or other costs that is agreed to by the Parties ("Contractual Credit") shall be disclosed to Buyer's lender. If the total credit allowed by Buyer's lender ("Lender Allowable Credit") is less than the Contractual Credit, then (i) the Contractual Credit shall be reduced to the Lender Allowable Credit, and (1€) in the absence of a separate written agreement between the Parties, there shall be no automatic adjustment to the purchase price to make up for the difference between the Contractual Credit and the Lender Allowable Credit. K. BUYER STATED FINANCING: Salter is relying on Buyer's representation of the typo of financing specified (including but not limited to, as applicable, all cash, amount of down payment, or contingent or non -contingent loan). Seller has agreed to a specific closing date, purchase price and to sell to Buyer in reliance on Buyer's covenant concerning financing. Buyer shall pursue the financing specified in this Agreement. Seller has no obligation to cooperate with Buyer's efforts to obtain any financing other than that specified In the Agreement and the availability of any such alternate financing does not excuse Buyer from the obligation to purchase the Property and close escrow as specified in this Agreement, SALE OF BUYER'S PROPERTY: A. This Agreement and Buyer's ability to obtain financing are NOT contingent upon the sale of any property owned by Buyer. B. This Agreement and Puyer's ability to obtain financing are contingent upon the sale of property owned by Buyer as specified in the attached addendum (C.A.R. Form COP). ADDENDA AND ADVISORIES: A. ADDENDA: 0 Addendum a(G A.R. Fo►m ADM] B. 6. OTHER TERMS: ALLOCATION OF COSTS A. INSPECTIONS, REPORTS AND CERTIFICATES: Unless otherwise agreed In writing, this paragraph only determines who is to pay for the inspection, test, certificate or service ("Report") mentioned; it does not determine who is to pay for any work recommended or Identified in the Report. (1) 0 BuyeroSeller shall pay fora natural hazard zone disclosure report, including tax 0 environmental [–'Other: prepared by (2) 0 Buyer 0 Seller shall pay for the following Report prepared by (3) ❑ Buyer 0 Seller shall pay for the following Report prepared by B. GOVERNMENT REQUIREMENTS AND RETROFIT: (1) 0 BuyerOSeller shall pay for smoke alarm and carbon monoxide device Installation and water heater bracing, if required by Law. Prior to Close Of Escrow ("COE"), Seiler shall provide Buyer written statement(s) of compliance in accordance with state and local Law, unless Seller is exempt. (2) (f) O BuyerpSeller shall pay the cost of compliance with any other minimum mandatory government Inspections and reports RC luyer's Initials {, }i Seller's Initials rain 1(1 OYP011TOO ru1{I Ir7 RPA REVISED 12/18 (PAGE 2 OF 10) CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA PAGE 2 OF 10) •An OVC15 tHIDV