Attachment C
Offer to Purchase
DocuSign Envelope ID: 3BD9E20C-D96F-4C2E-AFC0-195884C82E22
COLDWELL BANKER REAL ESTATE
COMMERCIAL SOLUTIONS
OFFER TO PURCHASE
"Non-Binding Letter of Intent"
Date: Feb. 26, 2024
To: Brentwood Mortgage LLC
212 S Palm Ave. #200
Alhambra, CA 91801
Re: Properties: 4-Parcels totaling +9.18 Acres, Civic Dr/Seneca Rd Victorville, CA APN's 3106-261-15, 3106-261-16, 3106-261-17 and 3106-261-18 City of Victorville, or assignee (the "Buyer"), submits this Offer to Brentwood Mortgage 147 LLC (the "Seller") for leasing the Premises upon the following terms and conditions:
PROPERTY: 4-Parcel totaling +9.18 Acres, Civic Dr./Seneca Rd, Victorville, CA Described as APN's 3106-261-15, 3106-261-16, 3106-261-17 and 3106-261-18 Total Land Area: #399,881 square feet (approximately)
2. PURCHASE PRICE: The Purchase Price shall be $2,500,000.
TERMS OF SALE: All cash at the close of escrow.
TITLE & ESCROW: The escrow and title companies shall be Commonwealth Land Title Insurance Company, 601 South Figueroa Street, Suite 4000, Los Angeles, CA 90017 CONTINGENCY PERIOD: The Buyer's Contingency period shall start after escrow has opened and Buyer has received all title reports and studies, but no later than fifteen (15) days. Upon the end of the 15-day period, all contingencies shall be waived.
6. ESCROW DEPOSIT & LIQUIDATED DAMAGES: Upon Opening Escrow, Buyer shall deposit Seventy-five Thousand ($75,000) Dollars (the "Escrow Deposit"). Because Buyer is a public agency (government entity, and cannot place taxpayer dollars at risk, the Escrow Deposit shall become fully refundable, less $100.00, should the transaction or escrow be terminated.
CLOSE OF ESCROW: Escrow shall close Forty-five (45) days.
8. BROKER COMPENSATION: Seller shall pay a brokerage commission to Buyer's Broker - Coldwell Banker Commercial Real Estate Solutions, as well as Seller's Broker - CityLights Realty LLC, each equal to Three (3%) of the purchase price.
9. AGENCY RELATIONSHIP: Coldwell Banker Commercial is the exclusive representative for the buyer.
CightLights Realty LLC is the exclusive representative for the seller.
Coldwell Banker Commercial - Real Estate Solutions
12138 Industrial Blyd, Suite 100, Victorville, California 92395 T. 760.684.8000 F. 760.243.9700 www.CBCdesert.com
DocuSign Envelope ID: 3BD9E20C-D96F-4C2E-AFC0-195884C82E22
10. FORMAL AGREEMENT: Upon acceptance of this Offer to Purchase, the Buyer agrees to submit an AIR Standard Agreement form for approval and execution at the next City Council meeting, with subsequent submission to escrow.
FACSIMILE TRANSMISSION: A party hereto may signify its agreement to the terms hereof by facsimile transmission. A telecopy facsimile of this agreement received by a party hereto which shows the signature(s) of the authorized signatory(ies) of the other party will be good proof of execution by that other party.
ACCEPTANCE: This Offer to Purchase is open for acceptance until March 8, 2024, and if not accepted shall be null and void.
Should the terms and conditions of this letter be acceptable, please sign the below where applicable and return a copy of the same to me. Should you have any questions or require additional information, please feel free to call me at 760-684-8000, or by email at [email protected]. Thank you for your consideration.
Sincerely,
Steven Thompson
DATED at Victorville, California,
City of Victorville, Buyer
Per: KEITH C. METZLER. CITY MANAGER
Printed name:
Brentwood Mortgage 147 LLC, Seller
DocuSigned by:
Michael Jonson 3/6/2024
Per:
MICHAEL SORRSE MANAGER Date
ULTIMATETELY BE CONTAINED IN THE PURCHASE AND SALE DOCUMENT. THIS PROPOSAL IS INTENDED AS THE BASIS FOR PREPARATION OF A PURCHASE AGREEMENT. THE
SALE SHALL BE SUBJECT TO SELLER'S AND BUYER'S APPROVAL, AND ONLY A FULLY EXECUTED PURCHASE AND SALE AGREEMEN SHALL CONSTITUTE A BINDING GREEMENT. BROKER MAKES NO WARRANTY OR REPRESENTATION TO THE SELLER OR BUYER THAT ACCEPTANCE OF THIS PROPOSAL WILL GUARANTEE THE EXECUTIO )F A PURCHASE AND SALE AGREEMENT
Coldwell Banker Commercial - Real Estate Solutions
12138 Industrial Bivd, Suite 100, Victorville, California 92395 T. 760.684.8000 F. 760.243.9700 www.CBCdesert.com