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Identify AND brieflyexplain (2-5 sentences) how 5 elements, clauses,tenets or points in the RPA relate to materials concepts discussedin Chapter9 regarding contractual performance andbreach. That is, make at least 5 connections (4 pointseach) between the RPA and aspects of contractual performance andbreach that you learned in Chapter 9.

For example, you may choose to look at:

1. What conditions subsequent may excuse contractual performance under the RPA?

2. What excuses for nonperformance exist under the RPA?

3. When may either Seller of Buyer be discharged from theresponsibility of performance?

4. What are some examples of waiver under the RPA?

5. What remedies does the RPA specify for breach of contract?

6. What does the RPA state about liquidated damages?

Transcribed Image Text:

CALIFORNIA ASSOCIATION OF REALTORS® Date Prepared: 1. OFFER: 2. A. THIS IS AN OFFER FROM B. THE REAL PROPERTY to be acquired is (City) C. THE PURCHASE PRICE offered is CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (C.A.R. Form RPA-CA, Revised 12/18) (County), Califomia, D. CLOSE OF ESCROW shall occur on (date)(or E. Buyer and Seller are referred to herein as the "Parties." Brokers are not Parties to this Agreement. AGENCY: (Zip Code), Assessor's Parcel No. Dollars $ A. DISCLOSURE: The Parties each acknowledge receipt of a Disclosure Regarding Real Estate Agency Relationships" (C.A.R. Form AD). B. CONFIRMATION: The following agency relationships are confirmed for this transaction: Seller's Brokerage Firm Is the broker of (check one): the seller; or both the buyer and seller. (dual agent) Seller's Agent Is (check one): the Seller's Agent (salesperson or broker associate) D. LOAN(S): Days After Acceptance). License Number Buyer's Brokerage Firm Is the broker of (check one): the buyer, or both the buyer and seller. (dual agent) Buyer's Agent License Number Is (check one): the Buyer's Agent. (salesperson or broker associate) both the Buyer's and Seller's Agent. (dual agent) C. POTENTIALLY COMPETING BUYERS AND SELLERS: The Parties each acknowledge receipt of a Possible Representation of More than One Buyer or Seller - Disclosure and Consent" (C.A.R. Form PRBS). 3. FINANCE TERMS: Buyer represents that funds will be good when deposited with Escrow Holder. A. INITIAL DEPOSIT: Deposit shall be in the amount of (1) Buyer Direct Deposit: Buyer shall deliver deposit directly to Escrow Holder by electronic funds transfer, cashier's check, personal check, other after Acceptance (or within 3 business days ©1901-2018, California Association of REALTORS®, Inc. RPA-CA REVISED 12/18 (PAGE 1 OF 10) Print Date License Number both the Buyer's and Seller's Agent. (dual agent) License Number, OR (2) Buyer Deposit with Agent: Buyer has given the deposit by personal check (or to the agent submitting the offer (or to ), made payable to The deposit shall be held uncashed until Acceptance and then deposited with Escrow Holder within 3 business days after Acceptance (or Deposit checks given to agent shall be an original signed check and not a copy. (Note: Initial and increased deposits checks received by agent shall be recorded in Broker's trust fund log.) B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of within Days After Acceptance (or If the Parties agree to liquidated damages in this Agreement, they also agree to incorporate the increased deposit into the liquidated damages amount in a separate liquidated damages clause (C.A.R. Form RID) at the time the increased deposit is delivered to Escrow Holder. C. ALL CASH OFFER: No loan is needed to purchase the Property. This offer is NOT contingent on Buyer obtaining a loan. Written verification of sufficient funds to close this transaction IS ATTACHED to this offer or Buyer shall, within 3 (or ____ _) Days After Acceptance, Deliver to Seller such verification. ("Buyer"). situated in _(Property) (1) FIRST LOAN: in the amount of This loan will be conventional financing OR FHA, VA,Seller financing (C.A.R. Form SFA), assumed financing (C.A.R. Form AFA), Other This loan shall be at a fixed rate not to exceed % or, an adjustable rate loan with initial rate not to exceed Regardless of the type of loan, Buyer shall pay points not to exceed (2) SECOND LOAN in the amount of % of the loan amount. exceed This loan will be conventional financing OR Seller financing (C.A.R. Form SFA), assumed financing (C.A.R. Form AFA), Other This loan shall be at a fixed rate not to % or, an adjustable rate loan with initial rate not to exceed %. Regardless of the type of loan, Buyer shall pay points not to exceed % of the loan amount. (3) FHA/VA: For any FHA or VA loan specified in 3D(1), Buyer has 17 (or) Days After Acceptance to Deliver to Seller written notice (C.A.R. Form FVA) of any lender-required repairs or costs that Buyer requests Seller to pay for or otherwise correct. Seller has no obligation to pay or satisfy lender requirements unless agreed in writing. A FHA/VA amendatory clause (C.A.R. Form FVAC) shall be a part of this Agreement. E. ADDITIONAL FINANCING TERMS: F. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of to be deposited with Escrow Holder pursuant to Escrow Holder instructions. G. PURCHASE PRICE (TOTAL): Buyer's Initials Seller's Intials L CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 1 OF 10) H CALIFORNIA ASSOCIATION OF REALTORS® Date Prepared: 1. OFFER: 2. A. THIS IS AN OFFER FROM B. THE REAL PROPERTY to be acquired is (City) C. THE PURCHASE PRICE offered is CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT AND JOINT ESCROW INSTRUCTIONS (C.A.R. Form RPA-CA, Revised 12/18) (County), Califomia, D. CLOSE OF ESCROW shall occur on (date)(or E. Buyer and Seller are referred to herein as the "Parties." Brokers are not Parties to this Agreement. AGENCY: (Zip Code), Assessor's Parcel No. Dollars $ A. DISCLOSURE: The Parties each acknowledge receipt of a Disclosure Regarding Real Estate Agency Relationships" (C.A.R. Form AD). B. CONFIRMATION: The following agency relationships are confirmed for this transaction: Seller's Brokerage Firm Is the broker of (check one): the seller; or both the buyer and seller. (dual agent) Seller's Agent Is (check one): the Seller's Agent (salesperson or broker associate) D. LOAN(S): Days After Acceptance). License Number Buyer's Brokerage Firm Is the broker of (check one): the buyer, or both the buyer and seller. (dual agent) Buyer's Agent License Number Is (check one): the Buyer's Agent. (salesperson or broker associate) both the Buyer's and Seller's Agent. (dual agent) C. POTENTIALLY COMPETING BUYERS AND SELLERS: The Parties each acknowledge receipt of a Possible Representation of More than One Buyer or Seller - Disclosure and Consent" (C.A.R. Form PRBS). 3. FINANCE TERMS: Buyer represents that funds will be good when deposited with Escrow Holder. A. INITIAL DEPOSIT: Deposit shall be in the amount of (1) Buyer Direct Deposit: Buyer shall deliver deposit directly to Escrow Holder by electronic funds transfer, cashier's check, personal check, other after Acceptance (or within 3 business days ©1901-2018, California Association of REALTORS®, Inc. RPA-CA REVISED 12/18 (PAGE 1 OF 10) Print Date License Number both the Buyer's and Seller's Agent. (dual agent) License Number, OR (2) Buyer Deposit with Agent: Buyer has given the deposit by personal check (or to the agent submitting the offer (or to ), made payable to The deposit shall be held uncashed until Acceptance and then deposited with Escrow Holder within 3 business days after Acceptance (or Deposit checks given to agent shall be an original signed check and not a copy. (Note: Initial and increased deposits checks received by agent shall be recorded in Broker's trust fund log.) B. INCREASED DEPOSIT: Buyer shall deposit with Escrow Holder an increased deposit in the amount of within Days After Acceptance (or If the Parties agree to liquidated damages in this Agreement, they also agree to incorporate the increased deposit into the liquidated damages amount in a separate liquidated damages clause (C.A.R. Form RID) at the time the increased deposit is delivered to Escrow Holder. C. ALL CASH OFFER: No loan is needed to purchase the Property. This offer is NOT contingent on Buyer obtaining a loan. Written verification of sufficient funds to close this transaction IS ATTACHED to this offer or Buyer shall, within 3 (or ____ _) Days After Acceptance, Deliver to Seller such verification. ("Buyer"). situated in _(Property) (1) FIRST LOAN: in the amount of This loan will be conventional financing OR FHA, VA,Seller financing (C.A.R. Form SFA), assumed financing (C.A.R. Form AFA), Other This loan shall be at a fixed rate not to exceed % or, an adjustable rate loan with initial rate not to exceed Regardless of the type of loan, Buyer shall pay points not to exceed (2) SECOND LOAN in the amount of % of the loan amount. exceed This loan will be conventional financing OR Seller financing (C.A.R. Form SFA), assumed financing (C.A.R. Form AFA), Other This loan shall be at a fixed rate not to % or, an adjustable rate loan with initial rate not to exceed %. Regardless of the type of loan, Buyer shall pay points not to exceed % of the loan amount. (3) FHA/VA: For any FHA or VA loan specified in 3D(1), Buyer has 17 (or) Days After Acceptance to Deliver to Seller written notice (C.A.R. Form FVA) of any lender-required repairs or costs that Buyer requests Seller to pay for or otherwise correct. Seller has no obligation to pay or satisfy lender requirements unless agreed in writing. A FHA/VA amendatory clause (C.A.R. Form FVAC) shall be a part of this Agreement. E. ADDITIONAL FINANCING TERMS: F. BALANCE OF DOWN PAYMENT OR PURCHASE PRICE in the amount of to be deposited with Escrow Holder pursuant to Escrow Holder instructions. G. PURCHASE PRICE (TOTAL): Buyer's Initials Seller's Intials L CALIFORNIA RESIDENTIAL PURCHASE AGREEMENT (RPA-CA PAGE 1 OF 10) H

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