09 Staff Report - Attachment 7EXHIBIT C
(a) Authori The person(s) executing this Agreement on behalf of the
Homeowners Association are authorized to bind the Homeowners Association and the
Homeowners Association is authorized and empowered to perform its obligations hereunder.
(b) Organization and Authority. The. Homeowners Association has the full right
and authority and has obtained any and all consents required to enter into. this Agreement, to
consummate or cause to. be consummated the. sale of the Parking Easement and the other
transactions described herein, and to execute, acknowledge and deliver the Homeowners
Association Quitclaim Deed and the CC&R Amendment. This Agreement and all of the
documents to be delivered by the Homeowners Association at or prior to the Closing hereunder
have been and will be authorized and properly executed and will constitute the valid and binding
obligations of the Homeowners Association, enforceable in accordance with their terms.
(c) . Ownership. of Parking Easement. The Homeowners Association is the sole
owner of the. Parking Easement (and the rights under 'Section 2.12 of the CC&Rs appurtenant to
Parcel 1 identified on the 1982 Map) and, other than the owner of the. underlying fee title. to
Parcel 4 upon-which the Parking Easement is situated, no third party or parties hold an interest in
such Parlang Easement (or the rights under Section 212. of the CC&Rs appurtenant to Parcel 1
identified on the 1982 Map).
(d) Requisite Vote of Lot Owners. The Homeowners Association has
obtained the requisite number of votes from the owners of the fourteen (14) lots identified on the
1982 Tract Map. (as required under the CC&Rs) to enter into this. Agreement and to. perform the
covenants, -agreements. and obligations of the Homeowners. Association described herein.. This
Agreement, the Homeowners Association Quitclaim Deed and the CC&RAmendment have been
approved by the requisite number of owners of the fourteen (14) lots.. identified. on the 1982 Tract
Map (as. required by the. CC&Rs) and such requisite number of owners of such lots have
approved the. execution and recordation of the Homeowners. Association Quitclaim Deed and
CC&R Amendment.
(e). "Foreign Person".. The Homeowners Association is not a "foreign person"
within the meaning of Section 1445(f)(3) of the Internal Revenue. Code, as amended (the "Code"),
and the Homeowners Association will famish io Buyer, prior to the Closing, an affidavit
confirming the same.
The representations and warranties of the Homeowners. Association set forth in
Sections 7.1(a)-(e) above. shall survive.. the Close. of Escrow hereunder.. . All obligations. and
liabilities. of the parties under this Agreement shall survive. the Close. of Escrow and shall not
merge into the Homeowners Association Quitclaim Deed referred-to in Section 5.1(a) above.
7.2 Disclosure. Buyer hereby discloses to the Homeowners Association the
following:
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EXHIBIT E
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Date: eMarch 10, 2006
Scale V - 20' Lot 34
Desl ned;_- - San Jose
H 1408)487-22QD House Location Exhibit
Drawn:
Checked: Gilroy
Pra ° E N G I N E E R S (408' 848-0707
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