ADDENDUM No.
(C.A.R. Form ADM, Revised 12/21)
The following terms and conditions are hereby incorporated in and made a part of the Purchase Agreement, OR Residential Lease or Month-to-Month Rental Agreement, Transfer Disclosure Statement (Note: An amendment to the TDS may give the Buyer a right to rescind), Other ,
dated , on property known as
(“Property/Premises”),
in which is referred to as ("Buyer/Tenant")
and is referred to as ("Seller/Landlord").
Buyer/Tenant and Seller/Landlord are referred to as the “Parties.” The foregoing terms and conditions are hereby agreed to, and the undersigned acknowledge receipt of a copy of this Addendum.
Buyer/Tenant Date
Buyer/Tenant Date
Seller/Landlord Date
Seller/Landlord Date
© 2021, California Association of REALTORS®, Inc. United States copyright law (Title 17 U.S. Code) forbids the unauthorized distribution, display and reproduction of this form, or any portion thereof, by photocopy machine or any other means, including facsimile or computerized formats. THIS FORM HAS BEEN APPROVED BY THE CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). NO REPRESENTATION IS MADE AS TO THE LEGAL VALIDITY OR ACCURACY OF ANY PROVISION IN ANY SPECIFIC TRANSACTION. A REAL ESTATE BROKER IS THE PERSON QUALIFIED TO ADVISE ON REAL ESTATE TRANSACTIONS. IF YOU DESIRE LEGAL OR TAX ADVICE, CONSULT AN APPROPRIATE PROFESSIONAL. This form is made available to real estate professionals through an agreement with or purchase from the California Association of REALTORS®. It is not intended to identify the user as a REALTOR®. REALTOR® is a registered collective membership mark which may be used only by members of the NATIONAL ASSOCIATION OF REALTORS® who subscribe to its Code of Ethics.
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ADM REVISED 12/21 (PAGE 1 OF 1)
ADDENDUM (ADM PAGE 1 OF 1)
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Produced with Lone Wolf Transactions (zipForm Edition) 717 N Harwood St, Suite 2200, Dallas, TX 75201 www.lwolf.com 1 June 25, 2024 16767 Spring St.
Fontana, CA 92335
City of Fontana
American Leigion Steel-Town Post 772
The offer and acceptance is subject to approval by the Fontana City Council. Upon completion of the feasibility and contingency period, and subject to Council approval, the Buyer agrees to release to Seller from the escrow deposit the amount of $25,000. Said funds shall be applicable to the purchase price but non-refundable to the Buyer.
The Buyer and Seller shall enter into a lease agreement allowing the Seller to lease back the property for a period NOT TO EXCEED 12 MONTHS. The total lease fee for the 12-month period is $24,000. The lease fee shall be paid in full at closing from funds due the Seller. The lease agreement shall be prepared by the City representative. The lessee shall pay all cost of operations, utilities and maintenance. The lease agreement and the Seller's escrow documents must be signed and received by the escrow holder prior to the early release of funds.
Furthermore, the Seller affirms that funds received from the sale of this property shall NOT be used in the relocation or acquisition of any parcel or property located between: Seville Ave. and Orange Way (north and south) and between Rosena Ave. and Mango Ave. (west and east).
City of Fontana
American Leigion Steel-Town Post 772
Sierra Realty, 9410 Sierra Ave. Fontana CA 92335 909.822.1200 909.822.0324 16767 Spring Ken Galasso