20060518Application.pdf

TOMLINSON BLACK PANHANDLE KANIKSU
WWW.TBSANDPOINT.COM
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200 MAIN STREET SANDPOINT, ID 83864 208-263-5101 or TOLL-FREE 1-800-282-6880 FAX: [phone] -E~malipanian(grtb:tom J:":
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May 18, 2006
IDAHO PUBLIC UTILITIES COMMISSION
PO BOX 83720
BOISE, ID 83720-0074
RE: APPLICATION TO SELL THE ALGOMA WATER SYSTEM (PWS1090001) CERTIFICATE
of CONVENIENCE and NECESSITY No. 396
Dear Commissioners:
Enclosed is this original and seven copies of this Application requesting the Idaho Public Utilities
Commission s (IPUC) approval to sell the Algoma Water System to Mr. Paul Greenwood. He will
operate the Algoma Water System under the name Algoma Water as a proprietorship. This
Application is solely for approval of the change of ownership. No changes in rates, charges
service are proposed. We request the application be processed under Modified Procedure as
expeditiously as possible.
Mr. Greenwood is familiar with the Commission s regulatory authority and rules and is prepared to
abide by existing directives. He is aware of the commission s web site and has made himself
familiar with our copies of Utility Customer Rules (IDAPA 31.21.01) and Customer Information
Rules (IDAPA 31.21.02). I am retaining my copies of these two documents and Mr. Greenwood
by copy of this letter, is requesting that he be provided his own documents.
Mr. Greenwood has been working in Bonner County for approx. 20 years. His background is one
of real estate development and income producing business management. He also owns a large
la'ndscaping business in California where he calls home and with that company comes all the
experience gained through working with the ins and outs of the private sector.
Paul Greenwood has developed a proud reputation in Bonner County, one of fair dealings and
quality jobs. Paul also owns 3 other community sewer systems in Bonner County, and Algoma
Water is intended to fit right in with an already functioning operations schedule.
Attachment "A" attached to this application is a "Personal Financial Statement" for Mr.
Greenwood. This financial statement demonstrates that Mr. Greenwood possesses the financial
ability to assume responsibility for the Algoma Water System.
Attachment "B" to this application is a brief "Business Plan" that explains how Mr. Greenwood
intends to incorporate the Algoma Water Company into his other business interests in Idaho As
an absentee owner, Mr. Greenwood has retained knowledgeable local businesses to perform the
normal day to day operations of the system..
Attachment "C" to this application is a brief description of the licenses and experience of Mr.
Robert Hanson who will have general managerial responsibility for the water system.
Attachments "B" and "C" demonstrate that the system will be operated and maintained by people
who have the necessary operational and managerial abilities to insure good service to the
customers of Algoma Water Company.
Attachment "0" to this application is s copy of the sales agreement between Mr. Larry Neu
(Seller) and Mr. Greenwood as the buyer. The Algoma Water system is included in this
transaction. The closing on the properties took place Feb., 2006. This transfer of ownership is
made subject to approval by the IPUC as shown on "Addendum 2" of the sales agreement.
Mr. Greenwood acknowledges that he is aware that the valuation of the system by the IPUC will
be the basis established by the Commission at the time the present rates were established
adjusted for any additional depreciation and improvements. He also acknowledges that he
understands that it is His responsibility to justify any additions to the valuation. The buyer also
understands that accounting for the water system must be in accordance with the Commission
Uniform System of Accounts and must be maintained on a stand-alone basis separate and apart
from any other business activities of the buyer. It is the intent of the buyer to continue the services
of Joan Brittian , CPA to do the billing for the water system and to complete and meet the
Commissions accounting requirements. Joan has been doing the billing for the Neu family for the
last two and a half years.
There is not at this time any plan to request adjustment to any of the rates and charges for
service from the water system. Customers are being advised of this Application through an insert
in their monthly billing at the first of April. A copy of the notice is enclosed as Attachment "
We request this Application be processed as quickly as possible and stand ready to answer any
questions the Commission may have.
Sincerely,
~U. Owner
'" ---"'" - .,. ~. .
Personal Financial Statement
To:
Wells Fargo Bank. National Assodation
2. -'d,. '5.r-() - ~~J
If I have any questions regarding the completion of this form, I should contact my Wells Fargo representative.
may apply for a credit extension, loan or other financial accommodation alone or together with someone elsa, rco-applicanr).If I apply with a co-applicant and our combined assets and debts can meaningfully and fairly be presented together, the co-
applicant and I may complete this required statement and 'any supporting schedules jointly. Otherwise, separate forms andschedules are required.
Applicant "E.tr L( C;;. r;. ~ E ~\:i WOO \JName Social Secu Number
'.L 3 II IS 0 Ii A- Si" C l-hfrs CO OR1t-\ Ci:t:!tl,n ~ 7
t,a.S Address TIme at Residence
~&-q
IR-);)"4~D!1tlg-q10-g'S~~ ~e-u... -3~ Telephone Num er 'i5ai&'Of1iirth
S- ELF 'P R. r-s. /0 wAlE ~Present Employer Position
,/~$
TIme at Employer
'P j4.c:.tt A-SIF"
Loan Purpose
UT\ 1...; T\ES
. Type of Primary Identification -ob
. Issue Date
LIt: \) tt
. Issued
( -
2...'::1.9. Exp- Date
- ,
Co-Applicant
Name
Address
i;,
Social Security Number
Time at Residence
Date of Birth
Position
Time at Employer
Loan Purpose
. Issue Date . Issued By . Exp. Date
Address
Telephone Number
Present Employer
Business Phone
. Type of Primery Identification . IdentifICation Number
. New Awount Identification Requirements: To help the government fight tho funding of terrorism and money laundering acUvities. U.S. Federal law required financialinstitutions to obtain, verify and record infoJmatlon that Idenllfled each person (individuals and businesses) who open an Bccwnl. What this means for you: When youopen IIn account, we wID as)c you for your name, address, dat.e of birth. and other Information tlmt will allow us to idenb"fy you. We may also ask 10 see your driver's
license or other IdenlifylnQ documents. . .
LDF1335 (11-04 83978) Attachment '
Page
. -
Date of valuation (mm/ddlyy):~ --2 ~-o f:.
As..r. (.anta you own)
Cash in Wells Fargo 611nll--- .Checklng
.po. Savlngl
Money Markel
Cash with:
Cash with:
Due f'rom friends, relatives and othel1l (schedule 1)
Mortgage and contracts for deed owned (schedule 2)
Securities owned (schedule 3)
Retirement Accounts (schedule 4)
Cash SUlTandel' value of life insurance (schedule 5)
Homestead ($Chedule 6,IIne 1)
Other real estate owned (schedule 6, lines 2-5)
Automobiles (yIIar. make. model)
Personal property
Othl!tf assets
Datos ahouk! be entered as mmldd1yy
Round all amounts.to the nearest $100 .
Att8dt'aeparala sheet If you ri8ed mora apace to eomplete detail schedule
Amount I LlabDItI.. (debta you owe)
or H"'" Loans payable to bents. others al)d In~l8Ilment
=" ......... ~
con!nIcta payable (schedule 8)
Amount
"""'lA..I1
! Loans 8S cosigner for someone ~Ise
~ CnldR carda (M8IlIIrCard, Vila & others)
I 0 Income taxes payable
I 0 Other taxes payable
I 'it ll.s-I-e
! 0 Loans on J1fe Insurance (schedule 5)
! D
i 0 Mortgage on homestead (schedule 7,IIn8 1)
I ~ ,iDM I 0 Mortgage or liens on other real estate owned
t... t;: nttI (schedule 7 ,lInllll 2-5)
Contracts for deed !IOU owe
-r~OOO
~L.I"I ~1I'1j 0
.iifea,j-OtherllabJllties L~'t.u ~
TOTAL ASSETS f. 2;:" L IS" i 0 TOTAI.-UABIUTIES q."1' 5"'00;
Networth(tolaissuotalentatalllabilltles) r ""1,(Jq"51 0
TOTAL ~i".:u.l ($1 0TOTAL (f(:J.b US'" i1J
pp 2.r1-YO'
Attachment I A'
Page 2
SCHEDULE 3 SECURITIES OWNED
Ac:..cr""Cost
L-Bs1Bd
U-uniisted
TOTAL
SCHEDULE 4 RETIREMENT ACCOUNTS
No. Shares OJ
Present L-i8ted
Bond Amount Descrlolion In \WoSe ~s\ _Istared Cost Market Value U-unl/sted
TOTAL
SCHEDULE 5 UfE INSURANCE
Insunld Insurance c;omDaflY ~aflclarv Face value of DOlleY Cash value L.oa/1$
TOTAL
SCHEDULE 6 REAL ESTATE If own mom than 5 lease use the 0 Real &tate Sd\eI;kI!8 tab IIIId Insert toIaI&
AddIeSS and Type Incana Cost Year acquked
PnI$ent
Markel Velua
Amaunt or
Insuranca
. ....
TOTAL I 7.r; 0000
SCHEDULE 7 MORTGAGES OR UENS ON REAL ESTATE
s .
Interest RaI8
00%
00%
00%
00%
00%
,.-
TOTAL '2 .2. ~'V(7
LDF1335 (11-04 83978)
pP:z.-
:U~() (,
2.~, OO()
Page 3
Attachment'
Page 3
.....-....,.. ,- .,. , .
Have ever gone through bankruptcy or had a judgment
against me?
Are any assets pledged or debts secured except as
shown?
Have I made a will?
Number of dependents
(If none, check "None
Marital status (answer only if this financial statement is
provided In connection with a request for secured credit,
applicant is seeking a joint account with spouse, or
applicant or co-applicant is a resident of a community
property state (Arizona, California, Idaho, Louisiana,
Neyada, New Mexico, Texas, Washington or Wfsconsin)
or is relying on property located in such a state as a basis
for repaying the credit requested.
APPLICANT CO-APPLICANT
DYes DYes DNa
Dyes 18INa DYes DNa
'liCYes DNa DYes DNa
--.l ~Nane -1.0 None
0 Married Married
0 Separated 0 Separated
~Unmarried 0 Unmarried
(Unmarried includes single, divorced, widowed)
The foregoing statement, submitted for the purpose of obtaining credit, is true and correct in every detail and fairly shows
my/our financial condition at the time indicated. !/we wiD give you ~fompt written notice of any subsequefit substantial change
In such financial condition oocurring before discharge of my/our obligations to you. l/we understand that you will retain this
personal financial statement whether or not you approve the credit in connection with which It is submitted. You are authorized
to check my/our credit and employment history or any other information contained herein.
THE UNDERSIGNED CERTIFY THAT THE INFORMATION CONTAINED ON T IS F.ORM HAS BEEN
CAREFULLY REVIEWED AND THAT IT IS TRUE AND RRECT J SPECTS.
;:2. - 2.. '3 --0 .b
Date
Dale Co.appllcant signature (If you are requesting the financial
accommodation jointly)
NOTICE TO ARIZONA AND NEW MEXICO APPLICANTS ONLY:
0 I am applying for Individual credit as a sole and separate debt.
NOTICE TO OHIO APPLICANTS ONLY: The Ohio laws against discrimination require that all creditors make credit equally
available to all credit worthy customers, and thai credit reporting agencies maintain separate credit histories on each individual
upon request The Ohio civil rights commission administers compliance with this law.
NOTl~E TO WISCONSIN MARRIED APPUCANTS ONLY: No provision of any marital property agreement, unilateral
statement under ~766.59, WIs. Stats., or court decree under ~766.70, Wis. Stats., adversely affects the interest of the creditor
unless the creditor, prior to the time the credit Is granted or an open-end credit plan is entered into, is furnished a copy of the
agreement, statement or court decree or has actual knowledge of the adverse provision.
BANK USE ONLY (Not required for Business borrowers such as: Corporations, LLCslLlPs, S Corps, Partnerships)
Banker Notations for CID input into Athena:
LDF1335 (11-04 83978)
i .
Attachment I
Page 4
BUSINESS PLAN
The following is a brief synopsis ofthe manner in which Paul Greenwood intends to
conduct the business operations of the Algoma Water System.
It is my intention to incorporate Algoma Water System into the group business plan of
the other community sewer systems I already own.
The plan is as follows:
Bob Hanson of Water Systems Management Inc.
Phone: [phone] E-mail: wsmibob~ao1.com
Fax: [phone]
Address: 67 Wild Horse Trail
Sandpoint, ID 83864
License: See Attached
Bob Hanson has been retained in the overall management of each system
Deal Pump and Electric
TelTY Deal, Owner
Phone: [phone]
Address:
Sandpoint, ill 83864
TelTY is available on call 24/7, year round for maintenance and emergency purposes.
Book Keeping is handled by
Joan Brittain, retired CPA
Phone: [phone]
Address: 206 N. 4th
Sandpoint, ID 83864
Joan is a retired CPA, who already has 3 years experience with my other system and has
been handling A1goma Water s books for approximately that amount oftime.
It is in my plan to always have enough resource available to make sure the customer does
not suffer due to poor management or a defunct system. That is why I will strive to keep
the Algoma system in top operating condition by hiring the best people to oversee its
operation.
Attachment I
Current water and wastewater licenses for Robert Hansen
as issued by the Idaho Bureau of Occupational Licenses:
BAT-530
DWD2-13440
DWT2-10694
WWC2-1371 0
WWTl-13889
WWTL-10693
Backflow Assembly Tester License
Drinking Water Distribution, Class 2
Drinking Water Treatment, Class 2
Wastewater Collection, Class 2
Wastewater Treatment, Class 1
Wastewater Lagoons
Additionally for Robert Hansen:
Appointed by the Governor to the Idaho Bureau of Occupational Licenses, Water &
Wastewater Board.
Appointed by the Director of the Idaho Department of Environmental Quality to the
IDEQ Drinking Water Advisory committee.
Immediate past president of the American Backflow Prevention Association (ABP A),
Idaho Chapter.
Facility operation will be by: Water Systems Management, Inc. who employs three
additional licensed water and/or wastewater operators capable of covering both
requirements for a responsible charge and substitute responsible charge operator for each
system. WSM, Inc. also operates and/or supplies services for over twenty other water or
wastewater systems in the northern counties of Idaho and provides cross connection
control programs and backflow prevention assembly testing along with water and
wastewater consulting service throughout the area.
Attachment '
RE-24 VACANT LAND REAL ESTATE PURCHASE AND SALE AGREEMENT
AND RECEIPT FOR EARNEST MONEY G:t
THIS IS A LEGALlY BINDING CONTRACT. READ THE ENTIRE DOCUMENT INCLUDING ANY ATTACHMENTS. IF
YOU HAVE ANY QUESTIONS, CONSULT YOUR ATTORNEY ANDIOR ACCOUNTANT BEFORE SIGNING.
Shaded text is used for clarification concerning form use.
W~T J-12406 DATE 01/2412006
....................
crrom.!ifl'f
10#
Tomlinson Black Sandpoint
Chris Neu Mail
Tomlinson Black
Office Phone #
chrisn(g2tb.com
Office Phone #
isoldi~sandpoint.net
263~510 Fax # 263-3SS8
Phone #[phone]
263 5101 Fax # ~63 3888
Phone #[phone]
USTING AGENCY
Listing Agent
SELLING AGENCY
Selling Agent Jim Watkins Mail
1. BUYER: Paul Greenwood and/or assigns (Hereinafter called "BUYER"
agrees to purchase, and the undersigned SElLER agrees to sell the following described real estate hereinafter referred to as .PREMISES"
COMMONLY KNOWN AS Utility Systems and lotCity County
LegaUy described as:
/D. Zip
OR Legal Description Attached as addendum #(Addendum must accompany original offer.
2. $ 177 000 PURCHASE PRICE: One Hundred and Sevenw-Seven Thousand
payable upon the following TERMS AND CONDl110NS ( not including closing costs) :
DOLLARS
3. FINANCIAL TERMS: Note: A+C+D+E must add up to total purchase price.
000 A. EARNEST MONEY: BUYER hereby deposits One Thousand DOLLARS
as Eamest Money evidenced by: cash I8I personal check cashier's check note (due date): to be sent 1/26/06other and a receipt Is herebl2cknQWIedged. Eamest Money to be de,E!?slted in trust account upon
receipt l8J upon acceptance by all parties and shall be held by: IJ5ting Broker t8i Selling Broker other
for the benefit of the parties hereto. The responsible Broker shall be Jeff Bond
B. ALL CASH OFFER: 0 NO 18( YES If this is an all cash offer do not complete lines Subsection C, fill blanks with0" (Zero). IF CASH OFFER BUYER'S OBLIGATION TO CLOSE SHALL NOT BE SUBJECT TO ANY FINANCIAL
CONTINGENCY,BUYER agrees to provide SELLER within business days from the dale of this agreement, evidence of sufficient funds
andfor proceeds n~ry to close transaction. Acceptable documenlatlon Includes, but is not limited to a copy of a recent bank or financial
statement orcontract(s) for the sale of BUYER'S cuTent residence or other property to be sold.
C. NEW LOAN PROCEEDS:
RRST LOAN of $ not including mortgage insurance. This Agreement Is contIngent Upon BUYER
obtaining the following type(s) of financing: FHA 0 VA 0 CONVENTIONAl IHFA RURAL DEVElOPMENTOTHER with interest not to exceed % for a period of year(s) at Fixed RateOther BUYER shall pay no more than _point(s) plus origilation fee if any. SB..lER shall pay fIG more
than point(s)- Any reduction in points shaD first accrue to !he benefit of the OBUYER 0 SELLER Divided Equally ON/A.
0 SECOND LOAN of $ for a period of year(s) at: Fixed Rate Other BUYER shall
pay no more than _point(lftplus origination fee If any. SELLER shall pay no more Ihan- polnt(s). Any reduction in points shall
firstaccruelothebenefrtoflhe U BUYER SELLER DividedEqually N/A
LOAN APPUCATlON: BUYER has applied shall apply for such loan(s) within business day(s) of SELLER'S acceptance,
Within business days of final acceptance of all parties. BUYER agrees to furnish SELLER with a written confirmation
showing lander approval of credit report, income verification, debt ratios In a manner acceptable to the SELLER(S) and subject only
to satisfactory appraisal and final lender underwriting. If such written confirmation is not received by SELLER(S) within the shict time
allotted, SElLER(S) may at their option cancel this agreement by notifying BUYER(S) in writing of such cancellation within
business day(s) after written confIrmatIon was required. If SELLER does not cancel withIn the strict time period specified as set forth herein
SELLER shall be deemed to have accepted such written conflrmal1on of lender approval and shall be deemed to have elecled to proceed with
the Iransaction. SELLER'S approval shall not be unreasonably withheld. If an appraisal is required by lender, the property must appraise at
not less than purchase price or BUYER'S Earnest Money may be returned at BUYER'S request BUYER maya'S() apply for loan wilh
different rondilions and costs and close transaction provided al/ other terms and conditions- of this Agreement are fulfilled, and the new loan
does not increa:re the costs or requirements to the SELLER.
FHA VA: If applicable. it is expressly agreed that notwithstanding any other provisions of this contract. BUYER shall not be obligated to
complete (he purchase of the property desclibed herein or to incur any penalty or forfeiture of Earnest Money deposits or otherwIse unless
BUYER has been given in accordance with HUD/FHA or VA requirements a wrillen statement by the Federal Housing Commissioner, Veterans
Administration or a Direct Endorsement lender setting forth the appraised value of the property of not less than the sa Ie5 price as stated in the
contract SELLER~to pay fees required by FHA or VA.
BUYER'SlnlliaIS )Date r l..-l.(- k:LLER'SlniliaIS
~)(
)Date I/d.-t/Io(o
This rarm ioprimtdond dlslribJlcd by tho Idaho Association or:&twRSe..,.. This fonn has bcoen deoigned (ound is "",vOW only (0..... by esl3te profe&sionals who = member$orm.
National Associ3lionofRI!ALTORS~. USE BY ANY OTIIER PERSON 15 PRODlBITEO.
Copyrigl\\ 1- Associ.w.on of REAL TO~. I... An righl. ....crvcd.
RE-24 VACANT lAND PURCHASE AND SALEAGREEM8IlTPAGE 1 of6 JULY 2005 EDmON Attachment '
Page
RE-24 Purd1asa 811d Sale Ag~nt for Vatanl Lalld Page 2 or 6 JUt Y, 2005 EDITION
PROPERTY ADDRESS:Utility Systems and lot 10#:WATJ-12406
D. ADDITIONAL FINANCIAL TERMS:
DAdditional financial terms are specIfIed under the heading "OTHER TERMS AND/OR CONDITIONS" (Section 4).
DAddltionallTnancial terms are contained In a FINANCING ADDENDUM of same date, attached hereto, signed by both parties.
176.0 DO E. APPROXIMATE FUNDS DUE AT CLOSING: Cash at~, notlncludfng closing costs, 10 be paid by BUYER at
dosing, In GOOD FUNDS, which Includes: cash, electronic transfer funds, certified check or cashier's check. Any net difference between
\he approximate balances of the Ioan(s) ShDWn above, which are to be assumed or taken subject to, and the actual balances of said loan(s) at
closing of escrow shall be adjustei:l in Cash Other.
4. OTHER TERMS ANDIOR CONDITIONS:
1l Two week feasibility study,
2) Buyers is doing a 1031 exchange, seller agrees to cooperate at no expense to themselves,
100
101
102
103
104
105
106
107
108
5. "NOT APPLICABLE DEFINED:" The letters "nIa: "N/A," "n.: and "A." as used herein are abbreviations of the term "not applicable.
Where this agreement uses the term "not applicable" or an abbreviation thereof, it shaH be evidence that the parties have contemplated certain
facts or conditions and have determined that such facts or conditions do not apply to the agreement or transaction herein.
6. INSPECTION: BUYER IS STRONGL Y ADVISED TO INVESTIGATE THE CONDITION AND SUITABILITY OF All ASPECTS OF THE
PROPERTY AND ALL MA TTERS AFFECTING THE VALUE OR DESIRABILITY OF THE PROPERTY INCLUDING, BUT NOT LIMITED THE
FOLLOWING:
A. SIZE: Squarefoolage and lot size, (Any numerical statements regarding these items are APPROXIMATION ONLY, and have not been and
will not be verified and should r:mt be relied upon by BUYER.
B. LINES AND BOUNDARIES: Property lines and boundaries, septic, and leach lines (Fences, walls, hedges, and other natural or constructed
barriers or markers do not necessarily identify true property boundaries. Property lines may be verified by surveys,
C. ZONING AND LAND USE: Inquiries, investigations, studies or any other means concerning past, present or proposed laws, ordinances,
~ferendums. initiatives, votes, applications and permits affecting the current use of the property, BUYER's intended use of the property,
future development, ~oning, building, size, governmental permits and fnspections. Both parties are advised that Broker does not guarantee
the status of permits. zoning or code compliance'. The parties ere to satisfy themselves conceming these issues.
D. UTILmES AND SERVICE: Availability, costs, and restrictions of utilities and services, indudiog but not limited to, sewage, sanitation, water,
electricity, gas, telephone, cable TV and "drainage.
E. UTILITIES, IMPROVEMENTS & OTHE;R RIGHTS; SELLER represents that the property does have the following utilities, improvements,
serl/ices and other rights available (describe availability);
109
110
111
112
113
114
115
116
117 BUYER chooses to have inspection; not to have inspection. If BUYER chooses not to have inspection skip the remainder of section 6. BUYER
118 shall have the right to conduct Inspections, investigations, tests, surl/eys and other studies at BUYER'S expense. BUYER shaD, within
119 business day(s) of acceptance, complete these inspections and give to SELLER written notice of items disapproved of, BUYER is strongly advised 10
120 exercise these rights and to make BUYER'S own selection of professionals with appropriate qualifica\i:Jns to conduct inspections of the entire property.
121 BUYER'S acceptance of the condition of the property is a contingency of this Agreement.
122123 SATISFACTION/REMOVAL OF INSPECTION CONTINGENCIES:124 1. If BUYER does not withfn the strict time period specifiei:l give to SELLER written notice of items disapproved of, BUYER shall conclusively be
125 deemed to have: (a) completed all inspections, investigations, review of applicable documents and disclosures; (b) elected to proceed with the
126 transaction and (c) assumed aliliabiliy, responsibility and expense for repairs or corrections other than for items which SEUER has otherwise agreed
1;17 in writIng to repair or correct.128 2. If BUYER does within Ihe slrict lime period specWied give to SELLER written notice of items disapproved of, BUYER shall provide to SELLER
129 pertinent section(s) of written inspection reports. SELLER shall have ----3- business day(s) in which to respond in writing. The SELLER, at
130 their option, may correct the item cilied by the BUYERS in their letter or may elect not to do so. If the SELLER agrees to correct the items
131 asked for in the BUYERS letter parties agree that they will continue with the transaction an to closing. This will remove the
:: BUYERSInspect
:"~~~~~-
)(~)Dale I -2H-\I ~ELLER'Initials(~(~.IIDate -l/a-.-y-/(!)t,rn
~.
135 m.1Dmo ;"priDlodard diotn'boucd by Ihefdallo Associ....... ofREALTORSiUnc. ThIs I"onn h.. heon IksIgned fur""" is pIOvidodonly rOt"'" by...., OSI". proressionals who "",manilas .f!he
~;;
N.~Dn:1l Assocl.~D.ofREAL'IORSqj). USE BY AI'/\' o;rum PERSON rs rROIllBITEIJ, Copyrigl1lldohoAssocioUon DrREALTORS~ Ino. All tiglllor=T\"'"
138 RE-:l4 VACANT lAND PURCHASE AND SALE AGREEMENT PAGE 2 cf 6 JULY, 2005 EDITION
F. HAZARDOUS MATERIALS: The real estate broker(s) or their agents in this transaction have no expertise with respect to toxic waste,
hazardous materials or undesirable substances. BUYERS who are concerned about the presence of such materials should have the
property inspected by quailied eXperts. BUYER acknowledges that he/she has not relied upon any representations by eRher the Broker or
the SELLER with respect to the condition of the property that are not contained in this Agreement or in any disclosure statements,
G. TAX LIABILITY: The BUYER and SELLER acknowledge that they have not received or relied upon any statements or representations by
the Broker with respect to the effect of this transaction upon BUYER's or SelLER's tax liability.
Attachment
Page 2
RE-24 PInd1... .nd Sale Agr..menl fo' Vaeant Land Peg. 30/6 JULY, 2005 EOmON
PROPERTY ADDRESS:Utility Systems and lot ID#:WATJ-12406
139140 3. If the SELLER elects not to correct the disapproved items. then the BUYER(S) have the option of either continuing the transaction without the
141 SELLER being responsible for correcting these deficiencies or giving the SELLER written notice within business days that they will not
142 continue with the transaction and WIll receive their Earnest Money back.143 4. If SELLER does not respond within the strict lime period specffied, BUYER shan have the right to cancel this agreement In writing.144 5. If BUYER does not give such written notice of cancellation within the strict time periods specified, BUYER shall conclusively be deemed to have
145 elected to proceed with the transaction without repairs or corrections other then for items which SELLER has othelWise agreed In wr1!lng to repair or
146 correct.
147 SaLER shall make the property available for all Inspections, BUYER shall keep the property free and clear of liens; Indemnify and hold SELLER
148 harmless from all liability, claims, demands, damages and costs; and repair any damages arising from the Inspections. No inspections may be made
149 by any governmental building or zoning inspector or government employee without the prior consent of SEllER. unless required by local
150 law.
151
152
153
154
155
156
157
158 8. TITLE INSURANCE:159 (A) TITLE COMMITMENT: Prior to closing the IransactJon,SELLER orO BUYER shall furnish 10 BUYER a commitment of a litle insurance
16D policy 5howing the condition of the tiUe to said premises. BLNER shall have business day(s) from receipt of the commitment or not less than
161 twenty-four (24) hours prior to closing. within which to object in writing to the condition of the title as set forth in the commibnent. If BUYER does not 50
162 object, BUYER shall be deemed to have accepted the condition of the IiUe. It is agreed that if the title of said premises is not marketable, or cannot be
163 made so within _business day(s) after notice containing a written statement of defect is delivered to SELLER, BUYER's Earnest Money deposit
1M will be returned to BUYER and SELLER shan pay for the cost of tlUe Insurance cancellation fee, escrow and legal fees, if any.155 (B). TITLE COMPANY: The parties agree that Sandpoint Title Company located at166 shall provide title policy and preliminary report of commitment.187 (C) STANDARD COVERAGE OWNER'S POLICY: SELLER shall within a reasonable time after closing fumi5h to BUYER a title insurance
168 policy in the amount of the purchase price of the premises showiog marketable and insurable title subject to the liens, encumbrances and defects
169 elsewhere set out In thi5 Agreement to be discharged or assumed by BUYER. The risk assumed by the title company In the standard coverage
170 policy is limited to matters of public record.171 (D) EXTENDED COVERAGE LENDER'S POLICY (Mortgagee policy): The lender may require that BUYER (Borrower) furnish an Extended
172 Coverage lender's Policy- This extended coverage lender's policy considers matters of public record and additionally insures against certain matters
173 not shown in the public record. This extended coverage lender s policy Is solely for the benefit of the lender and only protects the lender.174 (E) EXTENDED COVERAGE OWNER'S POLICY: A standard IIlIe policy does not caver certain potential problems or risks such as liens (f.e, a
175 legal claim against premises for payment of some debt or obligation, boundary disputes, claims of easement and other matters of claims if they are not
176 of public record at time of closing.) However, under Idaho law, such potential claims against the premises may have become legal obligations before
177 the purchase of the home and yet may not be of public record until after the purchase. It is recommended that BUYER talk 10 a title company about
178 what it offers in ilie way of extended coverage title policies and endorsements. This extended coverage owner s polley is for the benefit of the
171J owner and provides similar coverage like provided by the extended coverage lender's policy,160 Extended Coverage Owner s Policy requested 0 Yes ~ No. Additional premium paid by: 0 BUYER 0 SELLER.
181
182
183
184
185
186 10. EARNEST MONEY DISPUTE INTERPLEADER: Notwithstanding any termination of this contract, BUYER and SELLER agree thai In the187 event of any controversy regarding the Earnest Money and things of value held by Broker or closing agency. unless mutual written instructions are
166 received by the holder of the Earnest Money and things of value, Broker or closing agency shall not be required to take any action but may await any
189 proceeding, or at Broker's or closing agency s option and sole discretion, may interplead all parties and deposit any moneys or things of value Into a
190 court of competent Jurisdiction and shall recover court costs and reasonable attorneys fees.
181
192 11. COVENANTS, CONDITIONS AND RESTRICTIONS (CC& R'S): BUYER is responsible to obtain and review a copy of the CC& R's (if193 applicable). BUYER has reviewed CC& R's. Yes 18! No NJA
184-
195
1811
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206207 RE-24 VfoCNlr U\ND PURCHASE ANa SALE AGREEMENT PAGE 3 or 6 JUt.. Y 2005 EDmON
208
209
210
7. TITLE CONVEYANCE: Title of SELLER is to be conveyed by warranty deed, unless othelWise provided, and is to be marketable and insurableexcept for rights reserved In federal patents,state or railroad deeds, building or use restrictions. building and zoning regulations and ordinances of any
governmental unit, and rights of way and easements established or of record. Liens, encumbrances or defects to be discharged by SELLER may be
paid out of purchase money at date of closing. No liens, encumbrances or defects, which are to be discharged or assumed by BUYER or to which title
is laken subject to. exist unless otherwise specified in this Agreement
9. ATTORNEY'S FEES: If either party initiates or defends any arbitration or legal action or proceedings which are In any way connected with this
Agreement. the prevailing party shall be entitled to recover from the non-prevailing party reasonable costs and attorney's fees, including such costs
and fees on appeal.
12. SUBDIVISION HOMEOWNER'S ASSOCIATION: BUYER is aware that membership in a Home Owner s Association may be required andBUYER agrees to abide by the Articles of Incorporation, By-Laws and rules and regulations of the Association. BUYER is further aware that the
Property may be subject to assessments levied by the Association de5Cribed in full in the Declaralion of Covenants, Conditions and RestrIctions,
YER has reviewed Homeowner's Association Documents: Yes ~ No NfA Association fees/dues are $
p..
(1l;UY
ER SELLER N/A " "'" .........,.... MOO""" SET UP ......, prop""", mANSFER FEES ofat closing. ~th\
BUYER'S Initials ')DaIe--I -24-
(; ~
SELLER'SlnitiaIS(~)(~Date I?-+/f)~
This roon is primed and dislribual by the hIabo.AssociaJion ofRJ!AL~.1rn:. This fom1 has designed !Or and is proWled only "'ruse by reo! CSIAIC proltssioonlswlIO2Mml:ll1be!sor1J1.NaOOII31 Aisociation ofREAL'fORSiI!I. USE BY ANY OTIIER PERSON IS PROIlIBITED. Copyril!hl Tcbho As0aci06on of REAL TORSQ!IInc. AU rights """",aI
Attachment
Page 3
RE-24- Pon:ha"" end Sale Agreemanl far YaoaJ1t Land Pase 4- of 6 JUL V. 2005 EDITION
PROPERTY ADDRESS:Utility Systems and lot 10#:WAT J-12406
211
212 13. FARM/CROPsrrIMBER RIGHTS: SELLER, or any tenant of SELlER, shall be allowed to harves!, sell or assign any annual crops which have
213 been planted on the Property prior to !he date of this Contract, even though said harvest time may occur subsequent to the date of the settlement of this
214 conbact, unless otherwise agreed by attached addendum. If the crop consists of timber, then neither SELLER nor any tenant of SELLERs shall have any
215 right 10 harvest the timber unless the right to remove same shall be establlshad by atIached addendum. Notwithstanding the provisions hereof, any tenant
218 who shall be leasing the Property shall be allowed to complete the harvastofany annual crops that have been planted prior to the date of Contract
217 Acceptance as previously agreed between SELLER and Tenant. ANY AND ALL SUCH TENANT AGREEMENTS ARE TO BE ATTACHED.
218
219
220
221
222
223 15. MINERAL RIGHTS: Arrt and all mineral rights which are already included with the property will be included in the sale of thIs property unless224 otherwise stipulated.
225
226 16. WATER RIGHTS: Description of water rights, water systems, wells, springs, water. ditches, ditch rights. etc., if any, that are appurtenant
227 thereto that are now on or used in connection With the premises and shall be included in the sale unless otherwise provided herein:
228
229 17. RISK OF LOSS: Prior to closing of this sale, all risk of loss shall reI11ain with SELLER. In addition, Siould the prerrises be materiaDy damaged by fire
230 or other destructive cause prior to closing, this Agreement shall be voidable at the option of BUYER.
231
232
233
14. NOXIOUS WEEDS: BUYER of the property in the Slate of Idaho should be aware that some properties oontain noxious weeds. The laws of the
Slate of Idaho require owners of property within this state to control, and to the extent possible, eradicate noxious weeds- For more information conceming
noxious weeds and your obligations as an owner of property, contact your local county extension office.
18. BUSINESS DAYS & HOURS: A business day is herein defined as Monday through Friday, 8:00 A.M. to 5:00 P.M. In the local time zone
where the subject real property is physically located. A bumess day shall not include any Saturday or Sunday, nor shall a business day include any
234 legal holiday recognized by the state of Idaho as found in Idaho Code S 73-106. The time in which any act required under this agreement Is to be
235 performed shall be computed byexduding the date of execution and including the last day. The first day shall be the day atter the date of execution,
236 If the last day Is a legal holiday, then the lime for peoolTl1ance shall be the next subsequent business day.
238 19. SEVERABILITY: In the case that anyone or more of the provisions contained in this Agreement or any application thereof, shall be irwalid, illegal or
239 unenforceable In any respect. the validity, legality or unenforcaabmty ofthe remaining provisions shail not In any way be affected or Impaired thereby.
240
24-1
242
24-3
244
20. FACSIMILE TRANSMISSION: Facsimile or e1edra1ic transmission of any signed original document, and retransmission of any signed facsimile or
eleclronic transmission shail be the $Sme as delivery of an original. At the request of either party or the Closing Agency, the parties wiD confjlTl1 facsimile
and electronic transmitted signatures by signing an original d()CUmenl
245 21. ADDITIONAL CONTINGENCIES AND COSTS: The closing of this transaction is oontirgent upon written salisfacllon or waiver of the
246 foOowing contingencies. Costs In addition to those listed beloyi may be incurred by BUYER and SELlER unless oIhelWise agreed herein. or provided by
247 law or required by lender, or othetWise stated herein. The below costs wlfl be paid as Indicated and by no later than time of closing. Some costs are
248 subject to loan program requirements. In addition, the parties Sian satisfy all contingencies set forth in this section by (Date): unless otherwise
248 agreed to by the parties.
COSTS BUYER SELLER Shared Not CONTINGENCIES BUYER SELLER Shared Not
Equelly Applicable Equally Applicable
AppraISal Rle ErMrcnmenl;!llnspeclion (Ph;!se 1)
lang Term Escrow Fees Erwronmenl2llnspecllon (Phase 2)
Closing E$(%ow Fee Envlronmenlallnspec~cn (Phase 3)
S\InIeJ PERCTest
Ficod certiRca!lcnn'racklng Fee ZMing Variance
"RIB Ins. StnIao1 Co.e'age 0M1eI'S SoH(s) TesI(s)Policy
TlUe Ins. Extellded Coverage HaiardOUS Wosle Repor\(s)Lender's Poley - McrIgeg... PoliO!
Alldilional TIlle Coverags
Walsr Righ!s Transfer Fee
AIItmey Canlract Prepanillon Fee
~"...,
BUYER'J~
J%l J ) DateJ ?-T-6 SELLER'S Initials ( ~)(~)Date d.,/~/tL'fDalS m 250
251
252
253
254
255
256 RE-24 VACANT lAND PURCHASE AND SALE AGREEMENT PAGE 4 or 6 JULY 2005 EDITION
257
256
259
ThIs fmm is prioted DIld distn'blftod by d..ldoho Aosocia60n cfREALTORSd'), 1= This """ 1= """" dosignod f""""" is provided ooly rcr U$O by nooI_loprofussionals ..11."", m...."",or,he
Narictlal ~ioo ofREALTORm). USE BY ANY OTIIER PERSON IS p~OIll8ln:D. Copyrighlld3ho Associa~oo of REAL TORS~.II\O. All ri!lhls n:setVod
Attachment
Page 4
RE-24 Pun:haseendSa1eAgreemenlforVacanl18nd Page 50f6 JUly 2OOS EDITION
PROPERTY ADDRESS:Utility Systems and lot WATJ-12406ID#:
260
261 22. COUNTERPARTS: This Agreement may be executed in counterparts. Executing an agreement in counterparts shall mean the signature of262 two identical copies of the same agreement. Each IdentIcal copy of an agreement signed in counterparts is deemed to be an original, and all
263 identical copies shalliogether constitute one and the same Instrument.
264
265
266
267
268
269
270
271
272
273
274
215
276
217
278
279
280
281
282
263
284
285
286
287
288
289 26. TIME IS OF THE ESSENCE IN THIS AGREEMENT.
29D
291
292
293
294
295
296
2S7
298
29D
300
3Ot
302 29. SPECIAL CONSIDERATIONS AND CONTINGENCIES: This Agreement is made subject to the following special considerations and/or303 conlfngeru::les which must be satisfied prior to closing: see ara h 4.
3!14
23. ENTIRE AGREEMENT: This Agreement rontains \he entire Agreement of the parties respecting the matters herein set forth and supersedes all
prior Agreements between the parties respecting such matters, No warranties. including, without limitation, any warranty of habitability, agreements or
representations not expressly set forth herein shall be binding upon either party-
24. DEFAULT: If BUYER defaults In the perfonnance of this Agreement, SEllER has the option of. (1) accepting the Earnest Money as liquidated
damages or (2) pursuing any other lawful right or remedy to whJcl1 SELLER may be entitled. If SEllER elects to proceed under (1), SELLER shall make
demand upon the holder of the Earnest Money. upon which demand said holder shall pay from the Earnest Money the costs Inrorred by SElLER's Broker
on behalf of SELLER and BUYER related 10 the transaction, including, without limitation. the costs of title insurance, escrow fees, credit report fees,
Inspection fees and altomey's fees; and said holder shall pay any balance of the Earnest Mcney, one-half to SEUER and one-half to SEllER's Broker
provided that the amount to be paid to SELLER's Broker shall not exceed the Brokers agreed-to comlTission. SELLER and BUYER specifically
acknowledge and agree that if SElLER eleds to accept the Eamest Money as liquidated damages. such shall be SEUER's sole and exclusive remedy,
and such shall not be considered a penalty or furfelture. If SEllER elects to proceed under (2), the holder of the Eamest Money shaD be entiDed to pay
the costs incurred by SELLER's Broker on behalf of SelLER and BUYER related to the transaclion, including, without limitation, the costs of brokerage
fee. title insurance, escrow fees. credit report fees, inspection fees and attorneys fees, with any balance of the Earnest Money to be held pending
resolution of the matter.
If SElLER defaults.having approved said sale and fails 10 consummete the same as hereIn agreed, BUYER's Eamest Money deposit shell be returned
10 him/her and SEllER shall pay fur !he costs of title insurance, escrow fees. credit report fees. Inspection fees. brokerage fees and aIIomey's fees. if any.
Thi$ shall not be considered as a waiver by BUYER of any other lawful right or remedy to which BUYER may be entitled.
25. SALES PRICE INFORMA TrON: SelLER and BUYER hereby grnnt penT1ission to the brokers and either party 10 tRsAgreement to al5close sale
data from this transaction, including selling price and property address to the local Association Board of REAlTORS!&), multiple listing service. itsmembell;;. its members' prospects, appraisers and other professional users of real estate sales data. The parties to this Agreement acknowledge that
sales price information compiled as a result of this Agreement may be provided to the County Assessor's Office by either party or by eilf1er party's Broker.
ZT. CLOSING: On or before the closing date, BUYER and SELLER shall deposit with the closing agency aU funds and instruments necessary to
complete this transaction. ClosIng means the date on which all documents are either recorded or accepted bY. an ~w agent and the saleproceeds are available to SELLER.. The closing shall be no later than (Date) . March 7, 20
The parties agree that the CLOSING AGENCY fur this transaction shall be Katherine Du Ilea
located at 4th Avenue, Sandpoint If a long.term esaow collection is involved. then the long-term
escrow holder shall be
28. POSSESSION: BUYER shall be entitled to possessionJ8fupon closing or Diate at -----,-OamQpm Propertylaxes and
water aSSE5SlT1ents (usIng the last available assessment as e basis). rents, interest and reserves, rJens. encumbrances or obligations assumed and ublities
shaD be pro-rated as of
305
306 30. REPRESENTATION CONFIRMATION: Chedt one (1) box in Section 1 and one (1) box In Section 2 below to confirm that in this
307 transaction, the brokerage(s) involved had the following relationship-(s) with the BUYERS(s) and SELlER(s).
308 Section 1: A. The brokeragewotking with the BUYER(S) is acting as an AGENT for the BUYER(S).309 B. The brokerage working with the BUYER(S) is acting es a lIMm:o DUAl AGENT for the BUYER(S). without an ASS1GNED AGENT.310 D' c. The brokerage working with the BUYER(S) Is acting as a LIMITED DUAl AGENT for the BUYER(S) and has an ASSIGNED AGENT311 acting solely on behalf of the BUYER(S).312 D. The brokerage working with the BUYER(S) is acting as a NONAGENT for the BUYER(S)-
313
314 Section 2:
315
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323
324
325
326
327328
329
330 RE-24 VACANT lAND PURCHASE AND SN.EAGREEMENT PAGE 5 016 JULY. 2005 EDITION
A. The brokerage working with the SElLER(S) is acting as an AGENT for the SEllER(S).
B. The brokerage working with the SEllER(S) is acting as a LIMITED DUAl AGENT for !he SB..LER(S). without an ASSIGNED AGENT.
C. The brokerage working with the SEllER(S) is acting as a LIMITED DUAl AGENT for the SElLER(S) and has an ASSIGNED AGENT
acting solely on behalf of the SELLER(S).
D. The brokerage working with the SElLER(S) is ecting as a NONAGENT for the SELLER(S).
Each party signing this document confirms that he has received, read and unden;tood the Agency Disclosure Brochure adopted or approved by the Idaho
real estate commission and has consented to the relallonship confllmed above. In addition, each party confirms that the brokerages agency office policy
was made available for inspection and review. EACH PARTY UNDERSTANDS THAT HE IS A "CUSTOMER" AND IS NOT REPRESENTED BY A
BROKERAGE UNLESS
J!Jrf
IS A SIGNED WRITTEN AGREEMENT FOR AGENCY ~~~ENTA TION.
. - -
BUYER'S Initials
(~~)
Date l -2- Y -(:I (;SELLER'S Initials
)(~
Date / .:?-t 10(.:.
This fozm ispridlCdand dlmibulod by !he IdahoAssociaIIoo ofREAL'IORS\Ij).Inc. This limn 1m...... dosisned!'wand is pIOVidel1 only fur.... by.."j cstaIe pmlCss;onals wboaremo:mbc:rs Or","Nadonol Assotiation ofREALTORSQj). USE BY ANY OTHKR PERSON IS ~Hmlll::D. Copyri.!l/1t Jdoho As$oc:intion orREALTORSt).1nc. AU righlS n:savcd
Attachment'
Page 5
RE-24Pun:hase and Sale Agr"""",nl rorVacani \.and Page 6 of 6 JUL V 2005 EDITION
PROPERTY ADDRESS:Utility Systems and lot ID#:WAT J-12406
331
332
333
334
335
336
337
338
339
340
341
342
343
344 Address
345
346 E-Mail Address
341
348
...... ......... ................................. ....................... ...... ......... ............ ....................... ........
349
35Q BUYER Signature
351
352 Date
353
354 Address
355
356 E-Mail Address
357
356
359
360
361
352 SIGNATURE(S) SUBJECT TO ATTACHED COUNTER OFFER
353
364 ..ErSIGNATURE(S) SUBJECT TO ATTACHED ADDENDUM(S) #
365
366
367
366
369
370 Address
371
372 E-Mail Address Fax #373 "...A....
:: ~~:~:..~~~~.:.... .......... ..~...
u.....m...... ..
~~~~~.~~~:~:~;
u '
2A'RR~'" UiJ ~J'"
:: Date ~TI'" )c,DA,"'~.M, Phone" Q15o "?,O7 Ce,,"
::
Address ~D
~/
City State Zip381
362 E-Mail Address Fax #
363
384
365
31. ACCEPTANCE: BUYER'S offer is made subject to the acceptance of SELLER on or before (Date) 1/25106
(TIme) OAM.1:8I P.M. If SELLER does not accept this Agreement within the Orne specified, the entire Eamest Money shall be
refunded 10 BUYER on demand,
(Specify number of BUYER addendum(s) attached.
BUYER (Print Name) Paul Greenwood
Phone #Cell #
City State Zip
Fax #
BUYER (Print Name)
Time OA.M.OP.Phone #Cell #
City
Fax #
State Zip
33. SELLER'S SIGNATURES:
On this date. I/We hereby approve and accept the transaction set forth in the above Agreement and agree to carry oul all the terms thereof
on the part of the SELLER.
SELLER Signature
Date /7..- it ((J 1(1 Time L--0 AM.~P.
SELLER (Print Name) ~(..w- i ~ tJ a.v-..
Phone #Cell #
City State Zip
366
367
368
389
390
391
392
393
394
395
396
397
398 RE-24 VACANT lAND PURCHASE AND SALE AGREEMENT PAGE 60f6 JULY 2005 EDITION
This rami isprinled"'" distributed by Ihc ldallo Asoociaticn ofREALTORStO,Jnc. 'flUs form... t(x-and is prQYidedonly forllSO by "",I ",late prof_Is who.", members ortb.
NaUono.l Asooclnl!onofREAL~ USE BY ANY OTIlERPERSON IS PROIIIBITED.
CopytiJ:!11 Idaho Aswci3Iion orR,1W..TORS1O, !ne. All riWoIS ....,,-cd
I Primed Using Professiona! Comput~r Forms Co. On-LIne Forms Sol\W1lre 09105 I
Attachment
Page 6
RE-II ADDENDUMillLY 2DOSEDIllON PAOE 10F1
REAL1QI!"
G::r
.....,.~...
RE-11 ADDENDUM #, etc.
1 ~21J.-O6Date:
THIS IS A LEGALLY BINDING CONTRACT. READ THE ENTIRE DOCUMENT INCLUDING ANY ATTACHMENTS. IF YOU HAVE ANY QUESTIONS,
CONSULT YOUR ATTORNEY AND/OR ACCOUNTANT BEFORE SIGNING.
This is al'l ADDENDUM to the Purchase and Sale Agreement and Receipt for Earnest Money-
Addendum" means that the information below is added material for the agreementtsuch as lists or descriptions) and/or means the fonn is being used
to change, correct or revise the agreement (such as modification, addition or deletion of a termn.
1/24/06
Utility System
Greenwood
Neu
PURCHASE AND SALE AGREEMENT DATED:
ADDRESS:
BUYER(S):
SELLER(S):
The undersigned parties hereby agree as follows:
Legal Descriptions as Follows:
1) 16-s6N-2W Algoma Addition, elk 3 Lots 2 , Algoma Addn Sewer
2) 16-56N~2W Algoma Addition, Well lot, TCO og-OIJ.-O222-001
31 16-56N-2W Algoma Addition, elk 1, Tax 2. Commercial Park Drainfield
4) 6-55N-2W Tax 19, Shoreline Systems, CocolaIla
5) 36-57N-3W Tax 10, Sunny Shores Sewer
IDft WATJ-124p6
To the extent the terms of this ADDENDUM modify or conflict with any provisions of the Purchase and Sale Agreement including all prior
Addendur11s or Counter Offers, these t m shall control All other teRnS of the Purchase and Sale Agreement including all prior
Addendum$ Of Co f Offers n . atl" ad by this ADDENDUM shall remain the same. Upon its execution by both parties, this
agreement is mad an . teg forementioned Agreement.
Date:-24--BUYER:BUYER: Date:
:~: ~~~'
-T:~+~~
This rOIID is printed and dislnbuted e Idaho AssocIation of REAL TORW Ine. This fOl11l has been desIgned for and IS provided only for the real eslate proresslOna1S who are
members of the Natiorlal A$SOCiaUon or REAL TO~, USE BY NliY OTHER PERSON IS PROHIBITED.
lOCopyJight Idaho Associalion or REALTORSij!), loc.. An rights reserved,
RE-11 ADDENDUM JULY, 2005 EDITION PAGE 10F1
Attachment
I Printed UsIng Professional Computer Forms Co. On-line Forms SollWare 061051 Page 7
. i
RE-II ADDENDUMJlfi.Y 200SEDmON' PAGE 1 OF1
J:B
REAUORI!I
RE-11 ADDENDUM #, etc.(i)
.--
"""'~n
24-06Date:
THIS IS A LEGAlLY BINDING CONTRACT. READ THE ENTIRE DOCUMENT INCLUDING ANY ATTACHMENTS. IF YOU HAVE ANY QUESTIONSCONSULT YOUR ATTORNEY ANDIOR ACCOUNTANT BEFORE SIGNING.
This is an ADDENDUM to the Purchase and Sale Agreement and Receipt for Earnest Money.
Addendum" means lhat Ihe information balowis added material for Iheagreement(such as lists or descriptions) andlormeans the form is being usedto change. correct or revise the agreement (sUch as modification, addition or deletion of a term)).
1/24/06
Utility System
Greenwood
Neu
PURCHASE AND SAlE AGREEMENT DATED:
ADDRESS:
BUYER(S):
SELLER(S):
The undersigned parties hereby agree as follows:
Buyer is aware that there is approximately a 4 month review process in which the Idaho Public Utilities
Commission approves the new ownership of the water system.
Buyer is also advised that upon closing new sewer and water maintenance agreements should be constructed
for all clients.
Buyer has option of assuming current post office box, (pending USPS approval)
ID#WATJ2406
To the extent the erms of this AD EN M modify or conflict with any provisions of the Purchase and Sale Agreement including all prior
Addendums OJ' ou ter 0Ife15, thes rms shall control. All other terms of the Purchase and Sale Agreement including all priorAddendums! or C nter rs modified by this ADDENDUM shall remain the same. Upon its execution by both parties, this
agreement i~ ma an i of the aforementioned Agreement.
BUYER: I !
'/
Date:
j -
z.. tJ L
\....
BUYER:
SELLER:
Date:
c:.: .
':::":' ~::-:._._,.. '
C~-;:::"/-- 2 Date:
SELLER:Date:
This form Is printed al'ld distributed the ldah!) AsscIcialion of REAL TORS(6) Inc. Ttis form has been designed for and is provided only for the real estate professionals who are
membersoflheNallonalAssocialion ofREALTQRSC!iI. USE BY ANY OTHER PERSON IS PROHIBITED.
OCOpyright Idaho Assodalion of REAL TORSC!iI. Inc., All rights reserved.
RE-11 ADDENDUM JULY. 2005 EDITION PAGe 1 OF 1
Attachment '
I'Iinled Using Professional Compular Forms Co. On-line Forms So1IwanI 06105 Page a
Customer Notice
Dear Customer of Algoma Water
An application has been filed with the Idaho Public Utilities Commission (IPUC) for
approval of a sale of the Algoma Water Company to Mr. Paul Greenwood. Mr.
Greenwood intends to retain local qualified and licensed professionals to operate and
maintain the water system. There are no plans to change the water rates you pay, this is
simply a change of ownership application.
The Application is on file with the Idaho Public Utilities Commission. You may read the
application on the IPUC Web Site (puc.state.id.us). A copy is available for your review
at the real estate offices of Tomlinson Black, 200 Main Street, Sandpoint.
Should you wish to make comments to the IPUC regarding this application you may do
so on line at the Commission s web site or write to them at:
Idaho Public Utilities Commission
O. Box 83704
Boise, Idaho 83704-0074
Sincerely,
Algoma Water Co.
ttachment l