1 21S02, Springville, CA 93527

Property Description

Trust Sale, Buyer acknowledges that the Property is an asset of a Trust estate of which Seller, pursuant to Probate Code section 16502, may give written notice of the terms and conditions of the proposed sale of the Property to the Trust beneficiaries. Each beneficiary will have forty-five (45) days from the date of mailing of such notice to object in writing to the sale. If any beneficiary objects to the terms of the proposed sale, Seller may either terminate this transaction or elect to file a Petition for Instructions seeking approval of the sale of the Property by the Superior Court of California on the terms and conditions contained in this Agreement. If Seller elects to terminate this Agreement for such reason, Buyer’s deposit shall be returned to Buyer. If Seller elects to seek court approval of the sale of the Property upon the terms and conditions contained in this Agreement, Buyer agrees to remove all contingencies in writing and extend the date for close of escrow of the sale to enable Seller to obtain such order of the court. Once Seller has filed the Petition for the confirmation of the sale, there can be no changes to the proposed vesting. If the sale is confirmed by the court, an Order Confirming Sale to Buyer will be issued by the court. Buyer shall pay the balance of the purchase price within ten (10) days of Buyer’s or escrow holder’s receipt of such order. If the court does not issue an order approving sale of the Property under the terms and conditions of this Agreement, then this transaction shall terminate and Buyer’s deposit shall be returned to Buyer. Buyer to designate vesting in writing within seven (7) days after acceptance of the offer. There can be no changes to vesting from this point forward. Buyer shall not assign all or any part of Buyer’s interest in this Agreement. If Seller elects to file a petition with the court to confirm the sale of the Property, Seller shall notify Buyer in writing of the court confirmation hearing date, time, and location at least 15 days prior to the court confirmation hearing date. The sale will be subject to overbidding at the court hearing to it is recommended that Buyer personally appear at the court hearing to protect Buyer’s position in the event of overbidding. Property is not staked.