LLA 14798837- 10555 Cordova Rd & 22766 Alcalde Rd-APNs 342-44-10 & 342-44-11RECORDING REQUESTED BY
City of Cupertino
WHEN RECORDED MAIL TO
City of Cupertino
10300 Torre Avenue
Cupertino, CA 95014
NO FEE IN ACCORDANCE
WITH GOV. CODE 6103
14� g8a3�
(SPACE ABOVE THIS LINE FOR RECORDER'S USE)
LOT LINE ADJUSTMENT, DONALD H. DIEHL AND ALMA E. DIEHL,
JOINT TENANTS (PARCELS A, B AND C); 10555 CORDOVA ROAD,
APN 342-44-10; RICHARD GRACIA, SR. AND NELLIE GRACIA, AS TO AN
UNDIVIDED '/2 INTEREST EACH, AS TO PARCEL ONE; DONALD DIEHL AND
ALMA DIEHL, AS TO AN UNDIVIDED '/2 INTEREST AS TO PARCEL TWO (PARCEL D);
22766 ALCALDE ROAD, APN 342-44-11
SL�I �uw��.cY
Original
For Fast Endorsement
LOT LINE ADJUSTMENT
PROPERTY OWNERS: Donald H. Diehl and Alma E. Diehl, Husband and Wife as
Joint Tenants (Parcels A, B and C)
Richard Gracia, Sr. and Nellie Gracia, by Devise, As To An
Undivided 'h Interest Each, as to Parcel One; Donald Diehl and
Alma Diehl, who acquired title as Donald and Alma Diehl, Each
As To An Undivided %. Interest As to Parcel Two (Parcel D)
ACTION BY THE CITY ENGINEER APPROVING A LOT LINE ADJUSTMENT BETWEEN TWO
OR MORE ADJACENT PARCELS
BE IT RESOLVED BY THE CITY ENGINEER OF THE CITY OF CUPERTINO:
A request for a lot line adjustment between Parcels A, B, C and D, as designated on the
attached plat and descriptions marked Exhibit "A" and attached hereto, has been submitted by the
record owners of the above properties (as shown in Exhibit `B", attached) of the City of
Cupertino with the request that an adjustment of lot lines be approved by the City Engineer.
The City Engineer hereby finds that the lot ,line adjustment requested is between two or
more adjacent parcels, that the land taken from one of the parcels is added to the adjacent parcel
and that a greater number of parcels than originally existed would not be created.
Based on the above facts and findings and by the authority of Section 18.08.01 OH of the
City of Cupertino Municipal Code and Section #66412d of the Subdivision Map Act, said lot line
adjustment is hereby approved.
This lot line adjustment shall be totally null and void without further act of the City of
Cupertino, in the event that the change in title interest of ownership (including lien holder
interest) is not recorded by Grant Deeds within twelve (12) months from the approved date
and/or in the event that any change in title interest of ownership (including lien holder interest)
from the specified on the preliminary title report designated on Exhibit "B" and attached hereto,
occurs prior to the recordation of the grant deed conveying the real property in conformity to
Exhibit "A".
Approved this —day of 1999.
PP Y
BERT VISKOVICH
CITY ENGINEER
1998
EXHIBIT A
EXISTING PARCEL "A"
LEGAL DESCRIPTION
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Being all of Sections 201 and 220 as shown on that certain Record Of Survey filed for
record in Book 713 of Maps at page 43, Santa Clara County Records.
Said parcel of land containing 17,238 square feet, more or less (net).
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
fESSl04,
® K�9� Fey
Q
Q
3 No.140 i -<
EXD.
mac,
. ` of < ,°
EXISTING PARCEL "B"
LEGAL DESCRIPTION
tAHIBIT A
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Being all of Section 203 as shown on that certain Record Of Survey filed for record in
Book 713 of Maps at page 43, Santa Clara County Records.
Said parcel of land containing 8,720 square feet, more or less.
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
QPpFESSIpyq
Quo e� D. k�9 `cam
c� No. 1400 i -< roe
m
U
Exp.
e'
EXISTING PARCEL `F7
LEGAL DESCRIPTION
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Being all of Section 202 as shown on that certain Record Of Survey filed for record in
Book 713 of Maps at page 43, Santa Clara County Records.
Said parcel of land containing 9,203 square feet, more or less.
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
Q�ppD.
�SSlOyq!
�
40,®i n -C
ry
EXISTING PARCEL "D"
LEGAL DESCRIPTION
EXHIBIT A
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Being all of Section 200 as shown on that certain Record Of Survey filed for record in
Book 713 of Maps at page 43, Santa Clara County Records.
Said parcel of land containing 8,533 square feet, more or less.
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
Q�pFESS10Nq
D.
c� No. 14001LU
CC
Exp.
s
`�OF.r
e
\' b
203
PARCEL B e?moo
u
o
25.17 6\
203.04 77'09 /
ROAD
" EXHIBIT A "
KIRKEBY ENGINEERING PLAT TO ACCOMPANY DESCRIPTION SCALE: I" = 50'
2397 FOREST AVENUE EXISTING PARCEL DATE: APRIL 1999
SAN JOSE, CA 95128 (408) 984-0331 JOB NO. 98044
Parcel No. Existinq Proposed
A 17,238 S.F. 10,000 S.F. ( NET °' {
B 8,720 S,F, 14,936 S.F.
C 9,203 S.F. 9 03 S - I
ID R533 SF, 9,537 S F
I
I I
I
J
I
I
I -
I
SCALE: 1- . 50' I /
N 89.40'00" W
220
PARCEL A 1419
0
o1 ti
o 1
75J2
N 89.40'00" W
100,12
200
c�-1 PARr.t` I n
104.78
25.00 N 89.40'00" W
25.00 54.78 ero ti
20/ 202
RIO PARCEL C
78 _
N 83.2� W
PROPOSED PARCEL "A" VOW
t: A. H 1 T A
LEGAL DESCRIPTION
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Beginning at the northwesterly corner of Section 220 as shown on that certain Record Of
Survey filed for record in Book 713 of Maps at page 43, Santa Clara County Records;
thence along the northerly line of said Section 220 S 89°40'00" E 100.12 feet; thence
leaving said northerly line S 06°09'34" W 79.96 feet; thence S 04°36'54" E 29.56 feet to
the northerly line of Section 202 as shown on said Map; thence along said northerly line
N 89040'00" W 35.83 feet; thence leaving said northerly line S 01011'09" W 94.14 feet
to the northerly line of Mercedes Road as shown on said Map; thence along said
northerly line of Mercedes Road N 83°24'35" W 25.11 feet; thence leaving said northerly
line of Mercedes Road N 0191'09" E 102.07 feet; thence N 89°40'00" W 33.31 feet to
the westerly line of said Section 220; thence along said westerly line NORTH 98.34 feet
to the POINT OF BEGINNING.
Said parcel of land containing 10,000 square feet (net).
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
Parr,el No. Existing Pr000sed
A 17,238 Sf, 10,000 S F ( NET)
8,720SF, 14.936 S.F�`
C 9 203 S.F. 9,203 S.F. I
D 8,533 S.F. 9,537 S.F.
A IscALE. r • w
Ior N 89.40'00" W _
100J2
\ 220 , \
PARCEL A n W
S 3�0
Mtl
111.39
co
PARCEL B
N 89.40.00`
�I
_ N 99•40'00' W _ 39b3 ` A,
75J2 0 —, 28.00 46.69 1J•�'d_
N 89.40'00" W
200 . E'�°"
"3E i a 202
RRi i PARCEL D — r PARCEL C
I
107.02
i N
M E R C
ED e S
" EXHIBIT A
KIRKEBY ENGINEERING
2397 FOREST AVENUE
SAN JOSE, CA 95128 (408) 984-0331
o .1No.1oo1
ci
PLAT TO ACCOMPANY DESCRIPTION I SCALE: r * 50'
PROPOSED PARCEL A DATE: APPoL 1999
JOB NO. 98044
OF C►
PROPOSED PARCEL `B" EXHIBITA
LEGAL DESCRIPTION
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Beginning at the northeasterly corner of Section 220 as shown on that certain Record Of
Survey filed for record in Book 713 of Maps at page 43, Santa Clara County Records;
thence along the northerly line of said Section 220 N 89°40'00" W I I L')9 feet; thence
leaving said northerly line S 06°09'34" W 79.96 feet; thence S 04°36'54" E 29.56 feet to
the northerly line of Section 202 as shown on said Map; thence along said northerly line
S 89040'00" E 10.86 feet and N 44°33'41" E 3.86 to the northeasterly corner of Section
202 as shown on said Map; thence S 55°25'40" E 88.44 feet the northwesterly line of
Cordova Road as shown on said Map; thence along said northwesterly line of Cordova
Road N 44°33'41" E 84.78 feet; thence leaving said northwesterly line N 45'26' 19" W
87.10 feet to the southeasterly line of Section 220 as shown on said Map; thence along
said southeasterly line N 44033'41" E 48.13 feet to the POINT OF BEGINNING.
Said parcel of land containing 14,936 square feet, more or less.
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
P. 22/01
Ex
=-
Par el No. Existina Pro ose
A 17,238 S.F 10,000 S F t NET EXHIBITA
8 720 14 936 S.F.
C 9,203 S.F. 9,203 S.F. I
D a533 S.F. 9.537 S.F.
i
N 89.40'00' W
I 2IL51
a.- IOOJ2
_
_
_ 111.39
220
PARCEL
A
W
�,
$
o
; o
-PARCEL B
N 89040'00` W
- 6Q.43
�� ?•�.
,
._. N i9•4_0'00" W
33.31
�.-
35. 3 � ,ti,
_
75J2
0 ,
►`
20.00
46.69 J,•�_
EX. HOUSE i W
N 89.40'00'
W
200
202
PARCFI
D — _J
PARCEL__ C
107 Oz
N
W
O1
2
L.
0
Z
2DJ1
W
Q1
0
O
z
,,,� 70,91 "
M
po.t3.
i
MEf' CEO ES
RpAp •
OF Ct��-��O
" EXHIBIT A
KIRKEBY ENGINEERING PLAT TO ACCOMPANY DESCRIPTION SCALE: r = 50'
2397 FOREST AVENUE PROPOSED PARCEL B DATE: APPoL 1999
SAN JOSE, CA 96128 (408) 984-0331 JOB NO. 98044
PROPOSED PARCEL "C"
LEGAL DESCRIPTION
EXHIBITA
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Beginning at the northeasterly corner of Section 202 as shown on that certain Record Of
Survey filed for record in Book 713 of Maps at page 43, Santa Clara County Records;
thence along the northerly line of said Section 202 S 44033'41" W 3.86 feet and
N 89040'00" W 46.69 feet; thence leaving said northerly line S 01°11'09" W 94.14 feet
to the northerly line of Mercedes Road as shown on said Map; thence along said
northerly line of Mercedes Road S 83°24'35" E 70.91 to the northwesterly line of
Cordova Road as shown on said Map; thence along said northwesterly line of Cordova
Road N 4493'41" E 76.57 feet; thence leaving said northwesterly line of Cordova Road
N 55025'40" W 88.44 feet to the POINT OF BEGINNING.
Said parcel of land confaining 9,203 square feet, more or less.
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
Exp.
`31/01 ara
_0�-
:�
Par el No. Existing PrQposed
A 17,238 SF, 10,000 S F ( NET
8 720 14,936 S.F. EXHIBIT A
C 9,203 S F 9 203 S.F.
I1 U-3395:37SF
I I
J•
I
SCALE. r . 5o' I
1
I -
I N 89.40'00' W I 21L51
100J2 1IL39
220
g PARCEL A W �►�` ti
0 3 0
do
' PARCEL
� oil° ►r gx. —�\� ` �
N 89.40'00" W
, PoB
N 89.40'00' W 33,31 - 6Q.A3 35b3 ` ,�
75J2 0 , 215.00 - 46.69 J�•p�
ti N 89.40'00' W
200, . EX. HOUSE i a \ 2Q2 w
PARCEL D — 4m --PARCEL C e�
M E i4 C E- E
Ott _ P
Q
OJ
J�
o No,14001
Ar Exp.---� r
FI Cf�
EXHIBIT A "
KIRKEBY ENGINEERING ' PLAT TO ACCOMPANY DESCRIPTION SCALE: r • 50'
2397 FOREST AVENUE PROPOSED PARCEL C DATE: APRIL 1999
SAN JOSE, CA 95128 (406) 984-0331 JOB NO. 98044
PROPOSED PARCEL "D"
LEGAL DESCRIPTIONEXNEDI
I A
All that certain real property situate in the City of Cupertino, County of Santa Clara, State
of California described as follows:
Beginning at the northwesterly corner of Section 200 as shown on that certain Record Of
Survey filed for record in Book 713 of Maps at page 43, Santa Clara County Records;
thence along the northerly line of said Section 200 S 89°40'00" E 75.12 feet to the
southwesterly corner of Section 220 as shown on said Map; thence along the westerly
line of said Section 220 NORTH 10.66 feet; thence leaving said westerly line
S 89040'00" E 33.31 feet; thence S 0191'09" W 102.07 feet to the northerly line of
Mercedes Road as shown on said Map; thence along said northerly line of Mercedes
Road N 83°24'35" W 107.02 feet to the southwesterly corner of said Section 200; thence
along the westerly line of said Section 200 NORTH 79.73 feet to the POINT OF
BEGINNING.
Said parcel of land containing 9,537 square feet, more or less.
Prepared by:
Marvin D. Kirkeby
R.C.E No. 14001
Expires 3/31/2001
d
SCALE: r ■ ao'
el
161
N 89.40'00' W_
10OJ2
220
Exlstl Pr os
17 238 10 000 S F ( NET
8 720 14 936 S.F
203 S F 9 203 S.F. I
53,ES.F. 19,537SF
I
I /
s
PARCEL A W
21L51 /
IIL39
co
Ir
.203.
®' r•,� PARCEL B
N 89 40'00" W
N !l9.4000" W 33,31 6OA3 36;83
.. _ N ..
75J2 0 , �\ 25,00 46.69 JJ.
\ \ N 89.40'00"
200 Ex HOUSE 1�
04
+
PARCEL D PARCEL. C J �
—' \\ �rY
\ W
� W
0n�
z \\ Z
-0N 83.24.35" W 2SJI M91 -
4i
i v
0
_ 203.04
r .
,y E R C E.. _ _ µo,1
D E'S R 0ExP•
,q _
d �31/01
OF Cf�-��
"EXHIBIT A"
KIRKEBY ENGINEERING
2397 FOREST AVENUE
SAN JOSE, CA 95128 (408) 984-0331
0
PLAT TO ACCOMPANY DESCRIPTION SCALE: r = 50'
PROPOSED PARCEL D DATE: APML 1999
JOB NO. 98044
NORTH
AMERICAN
TITLE
■COMPANY
December 14, 1998
VENTURE WEST PROPERTIES
85 SARATOGA AVE #103
SANTA CLARA, CALIFORNIA 95051
ATTN: BOB LEONG
PROPERTY ADDRESS
10555 CORDOVA ROAD
CUPERTINO, CALIFORNIA
Preliminary Report
DIRECT ALL INQUIRES TO:
Escrow Officer: BETTY SORENSEN
Telephone No. 408-973-9565
Our No.: 98141306
UPDATE#2
IN RESPONSE TO THE ABOVE REFERENCED APPLICATION FOR A POLICY OF TITLE INSURANCE,
North American Title Company, Inc.
HEREBY REPORTS THAT IT IS PREPARED TO ISSUE, OR CAUSE TO BE ISSUED, AS OF THE DATE HEREOF, A
POLICY OR POLICIES OF TITLE INSURANCE, DESCRIBING THE LAND AND THE ESTATE OR INTEREST
HEREINAFTER SET FORTH, INSURING AGAINST LOSS WHICH MAY BE SUSTAINED BY REASON OF ANY
DEFECT, LIEN, OR ENCUMBRANCE NOT SHOWN OR REFERRED TO AS AN EXCEPTION BELOW OR NOT
EXCLUDED FROM COVERAGE PURSUANT TO THE PRINTED SCHEDULES, CONDITIONS AND STIPULATIONS OF
SAID POLICY FORMS.
THE PRINTED EXCEPTIONS AND EXCLUSION FROM THE COVERAGE OF SAID POLICY OR POLICIES ARE SET
FORTH ON THE ATTACHED COVER, COPIES OF THE POLICY FORMS SHOULD BE READ, THEY ARE AVAILABLE
FROM THE OFFICE WHICH ISSUED THIS REPORT.
PLEASE READ THE EXCEPTIONS SHOWN OR REFERRED TO BELOW AND THE EXCEPTIONS AND EXCLUSIONS
SET FORTH IN EXHIBIT A OF THIS REPORT CAREFULLY. THE EXCEPTIONS AND EXCLUSIONS ARE MEANT TO
PROVIDE YOU WITH NOTICE OF MATTERS WHICH ARE NOT COVERED UNDER THE TERMS OF THE TITLE
INSURANCE POLICY AND SHOULD BE CAREFULLY CONSIDERED.
IT IS IMPORTANT TO NOTE THAT THIS PRELIMINARY REPORT IS NOT A WRITTEN REPRESENTATION AS TO
THE CONDITION OF TITLE AND MAY NOT LIST ALL LIENS, DEFECTS, AND ENCUMBRANCES AFFECTING TITLE
TO THE LAND.
THIS REPORT (AND ANY SUPPLEMENTS OR AMENDMENTS THERETO) IS ISSUED SOLELY FOR THE PURPOSE OF
FACILITATING THE ISSUANCE OF A POLICY OF TITLE INSURANCE AND NO LIABILITY IS ASSUMED HEREBY. IF
IT IS DESIRED THAT LIABILITY BE ASSUMED PRIOR TO THE ISSUANCE OF POLICY TITLE INSURANCE, A BINDER
OR COMMITMENT SHOULD BE REQUESTED.
Dated as of NOVEMBER 16, 1998
at 7:30 A.M.
PAM THOMPSON
Title Officer
10121 Miller Avenue, Suite #101, Cupertino; California 95014, (408) 973-9565 Fax No. (408) 973-9568
The form of policy of title insurance contemplated by this report is:
e
ALTA Loan Policy - Form 1 (10-17-92) and/or CLTA Standard Coverage Policy - 1990
The estate or interest in the land hereinafter described or referred to covered by this report
is:
A FEE
Title to said estate or interest at the date hereof is vested in:
DONALD H. DIEHL AND ALMA E. DIEHL, HIS WIFE AS JOINT TENANTS
Page 2 of 7
Order No. 98141306
rEB11
Description: The land referred to herein is situated in the State of California, County of
SANTA CLARA, CITY OF CUPERTINO, and is described as follows:
PARCEL ONE:
SECTION 201 AS LAID DOWN, DESIGNATED AND DELINEATED UPON THAT CERTAIN
MAP ENTITLED, "MAP OF INSPIRATION HEIGHTS, MONTE VISTA", SHOWING
SECTIONS NOS. 1 TO 222, INCLUSIVE, WHICH MAP WAS FILED FOR RECORD IN THE
OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF
CALIFORNIA ON APRIL 11, 1917 IN BOOK "P" OF MAPS, PAGE 13.
PARCEL TWO:
SECTION 202 AS LAID DOWN, DESIGNATED AND DELINEATED UPON THAT CERTAIN
MAP ENTITLED, "MAP OF INSPIRATION HEIGHTS, MONTE VISTA", SHOWING
SECTIONS NOS. 1 TO 222, INCLUSIVE, WHICH MAP WAS FILED FOR RECORD IN THE
OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF
CALIFORNIA ON APRIL 11,1917 IN BOOK "P" OF MAPS, PAGE 13.
PARCEL THREE:
SECTION 203 AS LAID DOWN, DESIGNATED AND DELINEATED UPON THAT CERTAIN
MAP ENTITLED, "MAP OF INSPIRATION HEIGHTS, MONTE VISTA", SHOWING
SECTIONS NOS. 1 TO 222, INCLUSIVE, WHICH MAP WAS FILED FOR RECORD IN THE
OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF
CALIFORNIA ON APRIL 11, 1917 IN BOOK "P" OF MAPS, PAGE 13.
PARCEL FOUR:
SECTION 220 AS LAID DOWN, DESIGNATED AND DELINEATED UPON THAT CERTAIN
MAP ENTITLED, "MAP OF INSPIRATION HEIGHTS, MONTE VISTA", SHOWING
SECTIONS NOS. 1 TO 222, INCLUSIVE, WHICH MAP WAS FILED FOR RECORD IN THE
OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA, STATE OF
CALIFORNIA ON APRIL 11, 1917 IN BOOK "P" OF MAPS, PAGE 13.
ASSESSOR'S PARCEL NO.: 342-44-010
Page 3 of 7
Order No. 98141306
At the date hereof exceptions to coverage in addition to the printed exceptions and
exclusions contained in said policy form would be as follows:
1 . General and special property taxes, and any assessments collected with taxes,
including utility assessments, for the fiscal year 1998/1999.
Total Amount:
$1,546.14
First Installment:
$773.07 PAID
Second Installment:
$773.07 OPEN
Land:
$44,265.00
Improvements:
$73,784.00
Exemption:
$7,000.00
Code Area:
13-089
Parcel No.:
342-44-010
2. The lien of supplemental taxes, if any, assessed pursuant to the provisions of
Chapter 3.5 (commencing with Section 75) of the Revenue and Taxation Code of the
State of California.
3. A deed of trust to secure an indebtedness in the amount shown below and any other
obligations secured thereby:
Amount: $127,200.00
Dated: FEBRUARY 13, 1998
Trustor: DONALD H. DIEHL AND AWA E. DIEHL, HUSBAND
AND WIFE
Trustee: COMMONWEALTH LAND TITLE COMPANY
Beneficiary: NEW AMERICA FINANCIAL, INC.
Recorded: FEBRUARY 24, 1998
Instrument No.: 14067717
Loan No.: 7273469
Beneficiary Mailing Address: 3131 TURTLE CREEK BLVD. #1300, DALLAS, TX
75219
Page 4 of 7
Order No. 98141306
il
A deed of trust to secure an indebtedness in the amount shown below and any other
obligations secured thereby:
Amount: $75,000.00
Dated: MAY 15, 1998
Trustor: DONALD H. DIEHL AND ALMA E. DIEHL, HIS WIFE
AS JOINT TENANTS
Trustee: FIRST AMERICAN TITLE INSURANCE COMPANY
Beneficiary: CHASE MANHATTAN BANK USA, N.A., A UNITED
STATES CORPORATION
Recorded: MAY 27, 1998
Instrument No.: 14202118
Loan No.: 8400460245
Beneficiary Mailing Address: 2400 MAITLAND CTR PKWY, #210, MAITLAND, FL
32751
END OF EXCEPTIONS
Page 5 of 7
Order No. 98141306
INFORMATIONAL NOTES:
Our ALTA Loan Policy, when issued, will contain Endorsement Nos. 100 and 116/116.2.
There is located on said land a single family residence
known as 10555 CORDOVA ROAD, CUPERTINO, CALIFORNIA.
There are no conveyances affecting said land recorded within 24 months of the date of
this report.
This charge for a policy of title insurance, if issued through this title order, will be based
on the short term rate.
9/18/98 DR
CC: KIRKEBY ENGINEERING
MARV KIRKEBY
12/3/98 (UDPATE) WH
12/14/98 (UPDATE #2)._WH
Page 6 of 7
Order No. 98141306
GOOD FUNDS LAW
CALIFORNIA ASSEMBLY BILL 512 ("AB512") IS EFFECTIVE ON JANUARY 1, 1990. UNDER AB512, NORTH AMERICAN
TITLE COMPANY, INC. ("NORTH AMERICAN TITLE COMPANY, INC.") MAY ONLY MAKE FUNDS AVAILABLE FOR
MONETARY DISPERSAL IN ACCORDANCE WITH THE FOLLOWING RULES:
* SAME DAY AVAILABILITY - DISBURSEMENT ON THE DATE OF DEPOSIT IS ALLOWED ONLY WHEN FUNDS ARE
DEPOSITED TO NORTH AMERICAN TITLE COMPANY ("NORTH AMERICAN TITLE COMPANY, INC.") IN CASH OR
BY ELECTRONIC TRANSFER (WIRE). BEAR IN MIND THAT CASH WILL BE ACCEPTED FROM CUSTOMERS ONLY
UNDER SPECIAL CIRCUMSTANCES AS INDIVIDUALLY APPROVED BY MANAGEMENT.
* NEXT DAY AVAILABILITY - IF FUNDS ARE DEPOSITED TO NORTH AMERICAN TITLE COMPANY, INC. BY
CASHIER'S CHECKS, CERTIFIED CHECKS, OR TELLER'S CHECKS, DISBURSEMENT MAY BE ON THE NEXT
BUSINESS DAY FOLLOWING DEPOSIT. A "TELLER'S CHECK" IS ONE DRAWN BY AN INSURED FINANCIAL
INSTITUTION AGAINST ANOTHER INSURED FINANCIAL INSTITUTION (E.G., A SAVINGS AND LOAN FUNDING
WITH A CHECK AGAINST A FDIC INSURED BANK).
* 2-5 DAY AVAILABILITY (REGULATION CC). IF THE DEPOSIT IS MADE BY CHECKS OTHER THAN THOSE
DESCRIBED IN PARAGRAPHS 1 AND 2 ABOVE, DISBURSEMENT MAY OCCUR ON THE DAY WHEN FUNDS
MUST BE MADE AVAILABLE TO DEPOSITORS UNDER FEDERAL RESERVE REGULATION CC. THIS REQUIRES A
"HOLD" ON SOME CHECKS OF 2-5 DAYS OR LONGER IN SOME INSTANCES. PERSONAL CHECKS, DRAFTS,
PRIVATE CORPORATION AND COMPANY CHECKS, AND FUNDING CHECKS FROM MORTGAGE COMPANIES
THAT ARE NOT TELLER'S CHECKS ARE AMONG THOSE CHECKS SUBJECT TO SUCH HOLDS. (FOR FURTHER
DETAILS, CONSULT CHAPTER 598, STATUTES OF 1989.)
NOTE: THE ABOVE GUIDELINES ARE IN CONFORMITY WITH THOSE ISSUED BY THE DEPARTMENT OF INSURANCE FOR
ALL CALIFORNIA TITLE INSURANCE AND CALIFORNIA TITLE COMPANIES.
PRELIMINARY CHANGE OF OWNERSHIP REPORT
NOTE: ON OR AFTER JULY 1, 1985, THE COUNTY RECORDER'S OFFICE WILL CHARGE, IN ADDITION TO THE
REGULAR CHARGES, AN EXTRA $10.00 RECORDING FEE, UNLESS A DOCUMENT EVIDENCING A CHANGE OF OWNERSHIP IS
ACCOMPANIED BY A PRELIMINARY CHANGE OF OWNERSHIP REPORT. IN LIEU OF SAID REPORT, SIGNED BY THE TRANSFEREE, THE
RECORDER WILL ACCEPT AN AFFIDAVIT THAT THE TRANSFEREE IS NOT A RESIDENT OF CALIFORNIA. TITLE BILLINGS WILL BE
ADJUSTED TO REFLECT SUCH ADDITIONAL FEES WHEN APPLICABLE.
IRS FORM 1099
BEFORE THE TRANSACTION CONTEMPLATED BY THIS REPORT CAN BE CLOSED, THE SELLER/BORROWER MUST FURNISH A
TAXPAYER IDENTIFICATION NUMBER TO US SO THAT WE CAN FILE AN IRS FORM 1099, OR ITS EQUIVALENT, WITH THE INTERNAL
REVENUE SERVICE. THIS PROCEDURE IS REQUIRED BY SECTION 6045 OF THE INTERNAL REVENUE SERVICE.
NOTICE OF A WITHHOLDING REQUIREMENT
THIS IS A NOTICE OF A WITHHOLDING REQUIREMENT (CALIFORNIA REVENUE AND TAXATION CODE SECTIONS 18862) ON SALES
OF REAL PROPERTY. IN ACCORDANCE WITH SECTION 18662 OF THE REVENUE AND TAXATION CODE, A BUYER MAY BE REQUIRED
TO WITHHOLD AN AMOUNT EQUAL TO 3 1/3 PERCENT OF THE SALES PRICE, IN THE CASE OF A DISPOSITION OF CALIFORNIA REAL
PROPERTY INTEREST BY EITHER:
' A SELLER WHO IS AN INDIVIDUAL WITH A LAST KNOWN STREET ADDRESS OUTSIDE OF CALIFORNIA OR WHEN THE
DISBURSEMENT INSTRUCTIONS AUTHORIZE THE PROCEEDS BE SENT TO A FINANCIAL INTERMEDIARY OF THE SELLER, OR
* A CORPORATE SELLER WHICH HAS NO PERMANENT PLACE OF BUSINESS IN CALIFORNIA, OR
FOR FAILURE TO WITHHOLD, THE BUYER MAY BECOME SUBJECT TO A PENALTY IN AN AMOUNT EQUAL TO THE GREATER OF 10
PERCENT OF THE AMOUNT REQUIRED TO BE WITHHELD OR FIVE HUNDRED DOLLARS ($500).
HOWEVER, NOTWITHSTANDING ANY OTHER PROVISION INCLUDED IN THE CALIFORNIA STATUTES REFERENCED ABOVE, NO BUYER
WILL BE REQUIRED TO WITHHOLD ANY AMOUNT OR BE SUBJECT TO PENALTY FOR FAILURE TO WITHHOLD IF:
THE SALES PRICE OF THE CALIFORNIA REAL PROPERTY CONVEYED DOES NOT EXCEED ONE HUNDRED THOUSAND
DOLLARS ($100,000), OR
* THE SELLER EXECUTES A WRITTEN CERTIFICATE, UNDER PENALTY OF PERJURY, CERTIFYING THAT THE SELLER IS A
RESIDENT OF CALIFORNIA, OR IF A CORPORATION, HAS A PERMANENT PLACE OF BUSINESS IN CALIFORNIA OR
THE SELLER, WHO IS AN INDIVIDUAL, EXECUTES A WRITTEN CERTIFICATE, UNDER PENALTY OF PERJURY, THAT THE
CALIFORNIA REAL PROPERTY BEING CONVEYED IS THE SELLER'S PRINCIPAL RESIDENCE (AS DEFINED IN SECTION 1034 OF
THE INTERNAL REVENUE CODE).
THE SELLER IS SUBJECT TO PENALTY FOR KNOWINGLY FILING A FRAUDULENT CERTIFICATE FOR THE PURPOSE OF AVOIDING THE
WITHHOLDING REQUIREMENT.
THE CALIFORNIA STATUES REFERENCED ABOVE INCLUDE PROVISIONS WHICH AUTHORIZE THE FRANCHISE TAX BOARD TO GRANT
REDUCED WITHHOLDING AND WAIVERS FROM WITHHOLDING ON A CASE -BY -CASE BASIS. IN THE EVENT THE BUYER REQUIRES
WITHHOLDING OF THE 3 1/3 PERCENT OF SALES PRICE FROM THE SELLERS PROCEEDS, THE BUYER IS REQUIRED TO FILE A COPY
OF FORM FTB597 WITH THE FRANCHISE TAX BOARD ALONG WITH THE WITHHOLDING AMOUNT DUE NO LATER THAN THE 20TH
DAY OF THE MONTH FOLLOWING THE MONTH IN WHICH THE WITHHOLDING OCCURRED, UNLESS THE SELLER HAS REQUESTED A
WAIVER. IF THE SELLER HAS REQUESTED A WAIVER, THE FRANCHISE TAX BOARD, WITHIN 45 DAYS, WILL EITHER AUTHORIZE A
REDUCED AMOUNT, OR NO AMOUNT, OR DENY THE REQUEST, AT WHICH TIME THE AMOUNT WITHHELD ALONG WITH COPY A OF
FORM FTB 597 MUST BE SENT TO THE FRANCHISE TAX BOARD, AT THE FOLLOWING ADDRESS: FRANCHISE TAX BOARD
WITHHOLDING AT SOURCE UNIT, P.O. BOX 651, SACRAMENTO, CALIFORNIA 95812-0651 (916) 845-4900.
Page 7 of 7
Order No. 98141306
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■ NORTH
AMERICAN
rTITLE
MICOMPANY
October 28, 1998
VENTURE WEST PROPERTIES
85 SARATOGA AVENUE #103
SANTA CLARA, CALIFORNIA 95051
ATTN: BOB LEONG
PROPERTY ADDRESS
22766 ALCALDE ROAD
CUPERTINO, CALIFORNIA
Preliminary Report
DIRECT ALL INQUIRES TO:
Escrow Officer:
Telephone No.
Our No.: 2200660
IN RESPONSE TO THE ABOVE REFERENCED APPLICATION FOR A POLICY OF TITLE INSURANCE,
North American Title Company, Inc.
HEREBY REPORTS THAT IT IS PREPARED TO ISSUE, OR CAUSE TO BE ISSUED, AS OF THE DATE HEREOF, A
POLICY OR POLICIES OF TITLE INSURANCE, DESCRIBING THE LAND AND THE ESTATE OR INTEREST
HEREINAFTER SET FORTH, INSURING AGAINST LOSS WHICH MAY BE SUSTAINED BY REASON OF ANY
DEFECT, LIEN, OR ENCUMBRANCE NOT SHOWN OR REFERRED TO AS AN EXCEPTION BELOW OR NOT
EXCLUDED FROM COVERAGE PURSUANT TO THE PRINTED SCHEDULES, CONDITIONS AND STIPULATIONS OF
SAID POLICY FORMS.
THE PRINTED EXCEPTIONS AND EXCLUSION FROM THE COVERAGE OF SAID POLICY OR POLICIES ARE SET
FORTH ON THE ATTACHED COVER, COPIES OF THE POLICY FORMS SHOULD BE READ, THEY ARE AVAILABLE
FROM THE OFFICE WHICH ISSUED THIS REPORT.
PLEASE READ THE EXCEPTIONS SHOWN OR REFERRED TO BELOW AND THE EXCEPTIONS AND EXCLUSIONS
SET FORTH IN EXHIBIT A OF THIS REPORT CAREFULLY. THE EXCEPTIONS AND EXCLUSIONS ARE MEANT TO
PROVIDE YOU WITH NOTICE OF MATTERS WHICH ARE NOT COVERED UNDER THE TERMS OF THE TITLE
INSURANCE POLICY AND SHOULD BE CAREFULLY CONSIDERED.
IT IS IMPORTANT TO NOTE THAT THIS PRELIMINARY REPORT IS NOT A WRITTEN REPRESENTATION AS TO
THE CONDITION OF TITLE AND MAY NOT LIST ALL LIENS, DEFECTS, AND ENCUMBRANCES AFFECTING TITLE
TO THE LAND.
THIS REPORT (AND ANY SUPPLEMENTS OR AMENDMENTS THERETO) IS ISSUED SOLELY FOR THE PURPOSE OF
FACILITATING THE ISSUANCE OF A POLICY OF TITLE INSURANCE AND NO LIABILITY IS ASSUMED HEREBY. IF
IT IS DESIRED THAT LIABILITY BE ASSUMED PRIOR TO THE ISSUANCE OF POLICY TITLE INSURANCE, A BINDER
OR COMMITMENT SHOULD BE REQUESTED.
Dated as of SEPTEMBER 24, 1998
at 7:30 A.M.
PHIL KESSLER
Title Officer
2001 GATEWAY PLACE, SUITE 220 WEST, SAN JOSE, CA 95110
PHONE (408)-453-0300- FAX (408)-453-7654
The form of policy of title insurance contemplated by this report is:
ALTA Loan Policy - Form 1 (10-17-92) and/or CLTA Standard Coverage Policy - 1990
The estate or interest in the land hereinafter described or referred to covered by this report
is:
A FEE
Title to said estate or interest at the date hereof is vested in:
RICHARD GRACIA, SR. AND NELLIE GRACIA, BY DEVISE, AS TO AN UNDIVIDED 1 /2
INTEREST EACH, AS TO PARCEL ONE; DONALD DIEHL AND ALMA DIEHL, WHO
ACQUIRED TITLE AS DONALD AND ALMA DIEHL, EACH AS TO AN UNDIVIDED 1 /2
INTEREST, AS TO PARCEL TWO
Page 2 of 6
Order No. 2200660
EXHIB11
Description: The land referred to herein is situated in the State of California, County of
SANTA CLARA, CITY OF CUPERTINO, and is described as follows:
PARCEL ONE:
LOT TWO HUNDRED (200) AS LAID DOWN, DESIGNATED AND DELINEATED UPON
THAT CERTAIN MAP ENTITLED, "MAP OF INSPIRATION HEIGHTS, MONTA VISTA",
SHOWING SECTIONS NOS. 1 TO 222, INCLUSIVE, WHICH MAP WAS FILED FOR
RECORD IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA,
STATE OF CALIFORNIA ON APRIL 11, 1917 IN BOOK "P" OF MAPS, PAGE 13.
SAVING AND EXCEPTING THEREFROM THE EASTERLY 25 FEET OF SAID LOT 200, AND
WHICH IS MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SAID LOT 200 IN THE CENTER LINE
OF MERCEDES ROAD AND RUNNING THENCE NORTH ALONG THE EAST LINE OF LOT
200, 100 FEET, MORE OR LESS, TO THE NORTHEAST CORNER THEREOF; THENCE
WEST ALONG THE NORTH LINE OF SAID LOT 200, 25 FEET; THENCE SOUTH AND
PARALLEL WITH THE EAST LINE OF LOT 200, 100 FEET, MORE OR LESS, TO THE
SOUTHERLY LINE OF LOT 200 IN THE CENTER LINE OF MERCEDES ROAD; RUNNING
SOUTHEASTERLY AND ALONG SAID LAST NAMED LINE 25 FEET, MORE OR LESS, TO
THE POINT OF BEGINNING.
PARCEL TWO:
BEGINNING AT THE SOUTHEASTERLY CORNER OF SECTION 200 IN THE CENTER LINE
OF MERCEDES ROAD, AND RUNNING THENCE NORTH AND ALONG THE EAST LINE OF
SAID SECTION 200, 100 FEET, MORE OR LESS, TO THE NORTHEAST CORNER
THEREOF; THENCE WEST ALONG THE NORTH LINE OF SAID SECTION 200, 25 FEET;
THENCE SOUTH AND PARALLEL WITH THE EAST LINE OF SAID SECTION 200, 100
FEET, MORE OR LESS, TO THE SOUTHERLY LINE OF SECTION 200 IN THE CENTER LINE
OF MERCEDES ROAD; RUNNING THENCE SOUTHEASTERLY AND ALONG SAID LAST
NAMED LINE 25 FEET, MORE OR LESS, TO THE POINT OF BEGINNING, AND BEING THE
EASTERLY 25 FEET OF SECTION 200 AS LAID DOWN, DESIGNATED AND DELINEATED
UPON THAT CERTAIN MAP ENTITLED, "MAP OF THE INSPIRATION HEIGHTS, MONTA
VISTA", SHOWING SECTIONS NOS. 1 TO 222, INCLUSIVE WHICH MAP WAS FILED FOR
RECORD IN THE OFFICE OF THE RECORDER OF THE COUNTY OF SANTA CLARA,
STATE OF CALIFORNIA ON APRIL 11, 1917 IN BOOK "P" OF MAPS PAGE 13.
ASSESSOR'S PARCEL NO.: 342-44-011
Page 3 of 6
Order No. 2200660
EX I B 11
At the date hereof exceptions to coverage in addition to the printed exceptions and
exclusions contained in said policy form would be as follows:
1 . General and special property taxes, and any assessments collected with taxes,
including utility assessments, for the fiscal year 1998/1999.
Total Amount:
First Installment:
Second Installment:
Land:
Improvements:
Code Area:
Parcel No.:
$844.60
$422.30 NOT YET DUE & PAYABLE
$422.30 NOT YET DUE & PAYABLE
$23,574.00
$23,574.00
13-089
342-44-01 1
2. The lien of supplemental taxes, if any, assessed pursuant to the provisions of
Chapter 3.5 (commencing with Section 75) of the Revenue and Taxation Code of the
State of California._-
3. Rights of the public, county and/or city in that portion lying within the street as it
now exists:
MERCEDES ROAD.
END OF EXCEPTIONS
Page 4 of 6
Order No. 2200660
INFORMATIONAL NOTES: E I
Our ALTA Loan Policy, when issued, will contain Endorsement Nos. 100 and 116/1 16.2.
There are no conveyances affecting said land recorded within 24 months of the date of
this report.
This charge for a policy of title insurance, if issued through this title order, will be based
on the basic insurance rate.
10/28/98 WH
CC: KIRKEBY ENGINEERING
Page 5 of 6
Order No. 2200660
EXHIBIll B
GOOD FUNDS LAW
CALIFORNIA ASSEMBLY BILL 512 ("AB512") IS EFFECTIVE ON JANUARY 1, 1990. ,UNDER AB512, NORTH AMERICAN
TITLE COMPANY, INC. ("NORTH AMERICAN TITLE COMPANY, INC.") MAY ONLY MAKE FUNDS AVAILABLE FOR
MONETARY DISPERSAL IN ACCORDANCE WITH THE FOLLOWING RULES:
* SAME DAY AVAILABILITY - DISBURSEMENT ON THE DATE OF DEPOSIT IS ALLOWED ONLY WHEN FUNDS ARE
DEPOSITED TO NORTH AMERICAN TITLE COMPANY ("NORTH AMERICAN TITLE COMPANY, INC.") IN CASH OR
BY ELECTRONIC TRANSFER (WIRE). BEAR IN MIND THAT CASH WILL BE ACCEPTED FROM CUSTOMERS ONLY
UNDER SPECIAL CIRCUMSTANCES AS INDIVIDUALLY APPROVED BY MANAGEMENT.
* NEXT DAY AVAILABILITY - IF FUNDS ARE DEPOSITED TO NORTH AMERICAN TITLE COMPANY, INC. BY
CASHIER'S CHECKS, CERTIFIED CHECKS, OR TELLER'S CHECKS, DISBURSEMENT MAY BE ON THE NEXT
BUSINESS DAY FOLLOWING DEPOSIT. A "TELLER'S CHECK" IS ONE DRAWN BY AN INSURED FINANCIAL
INSTITUTION AGAINST ANOTHER INSURED FINANCIAL INSTITUTION (E.G., A SAVINGS AND LOAN FUNDING
WITH A CHECK AGAINST A FDIC INSURED BANK).
* 2-5 DAY AVAILABILITY (REGULATION CC). IF THE DEPOSIT IS MADE BY CHECKS OTHER THAN THOSE
DESCRIBED IN PARAGRAPHS 1 AND 2 ABOVE, DISBURSEMENT MAY OCCUR ON THE DAY WHEN FUNDS
MUST BE MADE AVAILABLE TO DEPOSITORS UNDER FEDERAL RESERVE REGULATION CC. THIS REQUIRES A
"HOLD" ON SOME CHECKS OF 2-5 DAYS OR LONGER IN SOME INSTANCES. PERSONAL CHECKS, DRAFTS,
PRIVATE CORPORATION AND COMPANY CHECKS, AND FUNDING CHECKS FROM MORTGAGE COMPANIES
THAT ARE NOT TELLER'S CHECKS ARE AMONG THOSE CHECKS SUBJECT TO SUCH HOLDS. (FOR FURTHER
DETAILS, CONSULT CHAPTER 598, STATUTES OF 1989.)
NOTE: THE ABOVE GUIDELINES ARE IN CONFORMITY WITH THOSE ISSUED BY THE DEPARTMENT OF INSURANCE FOR
ALL CALIFORNIA TITLE INSURANCE AND CALIFORNIA TITLE COMPANIES.
PRELIMINARY CHANGE OF OWNERSHIP REPORT
NOTE: ON OR AFTER JULY 1, 1.9.85, THE COUNTY RECORDER'S OFFICE WILL CHARGE, IN ADDITION TO THE
REGULAR CHARGES, AN EXTRA $20.00 RECORDING FEE, UNLESS A DOCUMENT EVIDENCING A CHANGE OF OWNERSHIP IS
ACCOMPANIED BY A PRELIMINARY CHANGE OF OWNERSHIP REPORT. IN LIEU OF SAID REPORT, SIGNED BY THE TRANSFEREE, THE
RECORDER WILL ACCEPT AN AFFIDAVIT THAT THE TRANSFEREE IS NOT A RESIDENT OF CALIFORNIA. TITLE BILLINGS WILL BE
ADJUSTED TO REFLECT SUCH ADDITIONAL FEES WHEN APPLICABLE.
IRS FORM 1099
BEFORE THE TRANSACTION CONTEMPLATED BY THIS REPORT CAN BE CLOSED, THE SELLER/BORROWER MUST FURNISH A
TAXPAYER IDENTIFICATION NUMBER TO US SO THAT WE CAN FILE AN IRS FORM 1099, OR ITS EQUIVALENT, WITH THE INTERNAL
REVENUE SERVICE. THIS PROCEDURE IS REQUIRED BY SECTION 6045 OF THE INTERNAL REVENUE SERVICE.
NOTICE OF A WITHHOLDING REQUIREMENT
THIS IS A NOTICE OF A WITHHOLDING REQUIREMENT (CALIFORNIA REVENUE AND TAXATION CODE SECTIONS 18862) ON SALES
OF REAL PROPERTY. IN ACCORDANCE WITH SECTION 18662 OF THE REVENUE AND TAXATION CODE, A BUYER MAY BE REQUIRED
TO WITHHOLD AN AMOUNT EQUAL TO 3 1 /3 PERCENT OF THE SALES PRICE, IN THE CASE OF A DISPOSITION OF CALIFORNIA REAL
PROPERTY INTEREST BY EITHER:
' A SELLER WHO IS AN INDIVIDUAL WITH A LAST KNOWN STREET ADDRESS OUTSIDE OF CALIFORNIA OR WHEN THE
DISBURSEMENT INSTRUCTIONS AUTHORIZE THE PROCEEDS BE SENT TO A FINANCIAL INTERMEDIARY OF THE SELLER, OR
A CORPORATE SELLER WHICH HAS NO PERMANENT PLACE OF BUSINESS IN CALIFORNIA, OR
FOR FAILURE TO WITHHOLD, THE BUYER MAY BECOME SUBJECT TO A PENALTY IN AN AMOUNT EQUAL TO THE GREATER OF 10
PERCENT OF THE AMOUNT REQUIRED TO BE WITHHELD OR FIVE HUNDRED DOLLARS ($500).
HOWEVER, NOTWITHSTANDING ANY OTHER PROVISION INCLUDED IN THE CALIFORNIA STATUTES REFERENCED ABOVE, NO BUYER
WILL BE REQUIRED TO WITHHOLD ANY AMOUNT OR BE SUBJECT TO PENALTY FOR FAILURE TO WITHHOLD IF:
THE SALES PRICE OF THE CALIFORNIA REAL PROPERTY CONVEYED DOES NOT EXCEED ONE HUNDRED THOUSAND
DOLLARS ($100,000), OR
THE SELLER EXECUTES A WRITTEN CERTIFICATE, UNDER PENALTY OF PERJURY, CERTIFYING THAT THE SELLER IS A
RESIDENT OF CALIFORNIA, OR IF A CORPORATION, HAS A PERMANENT PLACE OF BUSINESS IN CALIFORNIA OR
` THE SELLER, WHO IS AN INDIVIDUAL, EXECUTES A WRITTEN CERTIFICATE, UNDER PENALTY OF PERJURY, THAT THE
CALIFORNIA REAL PROPERTY BEING CONVEYED IS THE SELLER'S PRINCIPAL RESIDENCE (AS DEFINED IN SECTION 1034 OF
THE INTERNAL REVENUE CODE).
THE SELLER IS SUBJECT TO PENALTY FOR KNOWINGLY FILING A FRAUDULENT CERTIFICATE FOR THE PURPOSE OF AVOIDING THE
WITHHOLDING REQUIREMENT.
THE CALIFORNIA STATUES REFERENCED ABOVE INCLUDE PROVISIONS WHICH AUTHORIZE THE FRANCHISE TAX BOARD TO GRANT
REDUCED WITHHOLDING AND WAIVERS FROM WITHHOLDING ON A CASE -BY -CASE BASIS. IN THE EVENT THE BUYER REQUIRES
WITHHOLDING OF THE 3 1/3 PERCENT OF SALES PRICE FROM THE SELLERS PROCEEDS, THE BUYER IS REQUIRED TO FILE A COPY
OF FORM FTB597 WITH THE FRANCHISE TAX BOARD ALONG WITH THE WITHHOLDING AMOUNT DUE NO LATER THAN THE 20TH
DAY OF THE MONTH FOLLOWING THE MONTH IN WHICH THE WITHHOLDING OCCURRED, UNLESS THE SELLER HAS REQUESTED A
WAIVER. IF THE SELLER HAS REQUESTED A WAIVER, THE FRANCHISE TAX BOARD, WITHIN 45 DAYS, WILL EITHER AUTHORIZE A
REDUCED AMOUNT, OR NO AMOUNT, OR DENY THE REQUEST, AT WHICH TIME THE AMOUNT WITHHELD ALONG WITH COPY A OF
FORM FTB 597 MUST BE SENT TO THE FRANCHISE TAX BOARD, AT THE FOLLOWING ADDRESS: FRANCHISE TAX BOARD
WITHHOLDING AT SOURCE UNIT, P.O. BOX 651, SACRAMENTO, CALIFORNIA 95812-0651 (916) 845-4900.
Page 6 of 6
Order No. 2200660
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