Real Estate Summit Creek Proposal

REAL ESTATE SUMMIT CREEK PROPOSAL

Parties and Proposal Date

This Proposal is made on the date of execution by the parties below and evidences the Buyer's offer to purchase the Property described herein from the Seller on the terms and conditions set forth. Proposal Date:

Property Identification

Financial Terms

Purchase Price: $ payable in U.S. dollars pursuant to the terms below.

Deposit payable to Escrow Holder:

Inspection Period: calendar days following opening of escrow for Buyer's inspections and investigations. Closing Date: Possession Date:

Inclusions, Exclusions and Condition

Contingencies and Due Diligence

Title Review: Buyer shall have the right to review title within days. Objections to title must be delivered in writing. If Seller fails to cure valid title objections within the time specified, Buyer may elect to terminate or accept title subject to the stated exceptions.

Survey Requirement: Buyer requests a survey at Buyer's expense. Any survey deficiencies will be subject to Seller cure obligations as set forth in this Proposal.

Environmental and Physical Inspections: Buyer may conduct, at Buyer's expense, investigations including but not limited to environmental, geotechnical, structural and hazardous materials assessments. Seller shall reasonably permit access for such inspections during the Inspection Period.

Disclosures

Lead-Based Paint (if structure built before applicable regulatory year): Yes No

Known Mold or Water Intrusion: Yes No

Prior Material Damage or Repair (structural, fire, flood): Yes No

Homeowners' Association or Covenants, Conditions & Restrictions (CC&Rs): Yes No If Yes, specify name and contact:

Default, Remedies and Risk Allocation

Time is of the essence for all Buyer and Seller delivery obligations. If Buyer fails to perform, Seller may retain the Earnest Money as liquidated damages, provided such retention is a reasonable estimate of Seller's anticipated damages. If Seller fails to perform, Buyer may elect specific performance or terminate and recover the Earnest Money, together with reasonable costs and attorneys' fees incurred in enforcing Buyer's rights.

Risk of loss or casualty to the Property prior to Closing shall remain with Seller. If material damage occurs before Closing, Buyer may elect to terminate and receive return of Earnest Money or proceed to Closing with an equitable adjustment.

Insurance, Maintenance and Utilities

Title, Survey and Closing

Closing shall occur at an escrow and title company mutually agreed upon. Title shall be conveyed by marketable deed good for recording, free of monetary liens except as otherwise disclosed in writing. Seller will deliver a current Owner's Policy of Title Insurance at Closing insuring Buyer's fee simple interest subject only to permitted exceptions.

Brokers and Commissions

The parties represent that any broker commissions payable in connection with this transaction shall be the responsibility of as set forth in a separate written agreement between the applicable party and such broker. Each party agrees to indemnify the other for broker claims arising from its representations.

Miscellaneous Provisions

Governing Law: This Proposal and any resulting Purchase Agreement shall be governed by and construed in accordance with the laws of the state in which the Property is located. Venue for any dispute shall be the appropriate state or federal court in that jurisdiction.

Entire Agreement: This Proposal, when executed by both parties and accepted in writing, shall constitute the entire agreement between the parties with respect to the transaction described herein and supersedes all prior negotiations and agreements. Amendments must be in writing and signed by both parties.

Acknowledgement and Certification

Each signatory below certifies that they have the authority to bind the party for whom they sign, that all information provided in this Proposal is true and correct to the best of their knowledge, and that execution of this Proposal constitutes an offer subject to acceptance by the other party in writing. Upon mutual acceptance, the parties shall proceed to execute a binding Purchase Agreement incorporating these terms.

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