Conditional Contract of Sale of Real Estate
CONDITIONAL CONTRACT OF SALE OF
REAL ESTATE USED FOR PUBLIC PARK PURPOSES
This Conditional Contract of Sale of Real Estate Used for Park Purposes ("Contract") is
made and entered into this & day of November, 2007, by the CITY OF SALINA, a Kansas
municipal corporation, ("Seller) and ST. JOHN'S MILITARY SCHOOL, a Kansas not-for-profit
corporation, ("Buyer").
Recitals
A. Seller owns a certain real estate located on North Ninth Street commonly referred to
as East Thomas Park, consisting of all of the real estate (Parcel No.1 - North Parcel and Parcel No.
2 - South Parcel) situated in Saline County, Kansas legally described on the attached and
incorporated Exhibit A (the "Real Estate"). .
B. For the reason that the Real Estate has been used for public park purposes by the
City, sale of the Real Estate is subject to the procedural requirements ofK.S.A. 12-1301.
C. The City and the Buyer wish to enter into this Contract upon the terms and
conditions set forth herein.
FOR AND IN CONSIDERATION of the mutual and reciprocal promises and agreements
set forth herein, the parties agree as follows:
Section 1 - Description. Seller agrees to sell to Buyer and Buyer agrees to purchase from
Seller the Real Estate, subject to the terms of this Contract.
Section 2 - Purchase Price. The purchase price for the Real Estate shall be the sum of
Fourteen Thousand, Five Hundred Dollars ($14,500) payable by cashier's check, certified check, or
immediately available wire transferred funds to the account of the Escrow Agent on delivery of
Seller's special warranty deed conveying fee simple title to the Real Estate to Buyer at Closing.
Section 3 - SDecial Warranty Deed with Covenants. Transfer of title from Seller to Buyer
shall be by Special Warranty Deed with Covenants and Acknowledgements of Existing Status in
the form attached and incorporated as Exhibit B.
Section 4 - Statutory Conditions Precedent to Seller's Right and Obligation to Sell -
Closing Date. As required by K.S.A. 12-1301, Seller shall provide published notice (once each
week for two consecutive weeks upon the same day of the week) of the proposed sale. Seller's
I
right and obligation to sell the Real Estate pursuant to this contract are subject to the following
conditions precedent:
(A) If a valid protest petition has not been filed with the City Clerk within thirty (30)
days of the last publication, Seller shall be obligated to sell the Real Estate to Buyer pursuant to the
terms of this Contract and the Closing Date shall be on or before ten (10) days thereafter.
(B) If a valid protest petition is filed with the City Clerk within thirty (30) days of the
last publication, Seller may choose, in its sole and absolute discretion, either:
(I) To notifY Buyer in writing of its decision not to sell the Real Estate to Buyer, upon
which Seller and Buyer shall have no further obligation to the other, and Seller shall
be responsible for any expenses payable to C.W. Lynn Abstract Co., Inc. for
preliminary title work or escrow fees; or
(2) To proceed to a vote as required under K.S.A. 12-1302 (the "Vote") at the next
regular or special election otherwise called, at which the Vote could lawfully be
taken without the Seller incurring the expense of a special election solely for the
Vote. If Seller chooses to proceed to the Vote and:
(a) The Vote is in favor of the sale, Seller shall be obligated to sell the Real
Estate to Buyer pursuant to the terms of this Contract and the Closing Date
shall be on or before ten (10) days following final certification of the result
of the Vote.
(b) The Vote is opposed to the sale, this Contract shall be null and void, Seller
and Buyer shall have no further obligation to the other, and Seller shall be
responsible for any expenses payable to C. W. Lynn Abstract Co., Inc. for
preliminary title work or escrow fees.
Section 5 - Delivery of Deed. and Possession. If Buyer shall pay the sums of money as they
become due and payable, and otherwise fully complies with the provisions of this Contract, then
this Contract shall become binding and the Escrow Agent shall at Closing deliver the special
warranty deed and title insurance policy to the Real Estate to Buyer. No title shall pass hereunder to
Buyer, but shall remain in Seller until the foregoing conditions have been fully complied with.
Seller agrees that Buyer shall have possession of the Real Estate immediately following the
Closing.
Section 6 - PaYment of Exnenses.
(a) Seller shall pay the following items:
(1) Cost of preparation of contract and deed;
(2) One-half of title insurance premium; and
(3) One-half of escrow fee.
2
(b) Buyer shall pay the following items:
(I) One-half of title insurance premium;
(2) One-half of escrow fee;
(3) Cost of recording deed.
Section 7 - Escrow Agent. C.W. Lynn Abstract Co., Inc., Salina, Kansas, is hereby
designated as the Escrow Agent of the parties and shall hold this Contract, deed, title insurance
policy, and all other papers of transfer pending the complete fulfillment of this Contract. The
Escrow Agent shall receive and disburse all payments to be paid hereunder.
Section 8 - Evidence of Title. Seller shall provide Buyer with an owner's policy of title
insurance covering the Real Estate which will insure Buyer against loss or damage to the extent of
the purchase price by reason of defects in Seller's title to the Real Estate, subject to easements and
restrictions of record. Seller shall deliver a signed commitment for the title insurance policy from
C.W. Lynn Abstract Co., Inc. for examination by Buyer. Upon receipt of the title insurance
commitment, Buyer shall have a reasonable time, not to exceed twenty (20) days, to examine it and
to return it to Seller with any written objections relative .to the marketability of the title. Any
objections not so furnished shall be deemed to be waived by the Buyer. If valid objections are made
to the marketability of the title, Seller shall have a reasonable time to satisfY any valid objections to
the title and to make the title marketable. If Seller cannot furnish a marketable title to the Real
Estate within a reasonable time, then this Contract shall be null and void, and thereupon the Escrow
Agent shall return to the Buyer all monies paid by it and to the Seller the deed, and any other
documents shall be returned to the party who deposited them with the Escrow Agent, whereupon all
parties shall be released from further liability hereunder.
Section 9 - Taxes. The Real Estate is currently exempt from real property taxes. Buyer
acknowledges its responsibility for applying for exemption of the Real Estate from real property
taxes by virtue of its ownership and for payment of any real estate taxes assessed against the Real
Estate after Closing.
Section 10 - Inspection of Real Estate. Buyer acknowledges that (a) the Real Estate have
been inspected and Buyer agrees to accept the Real Estate in its present condition and fitness for
contemplated use, and (b) that Seller has made no warranties as to fitness or condition not set forth
in this Contract.
Section II - Assignment. Buyer shall not have the right to assign or transfer this Contract, or
any interest therein.
Section 12 - Environmental Hazard. Seller offers subject property for sale in an "as is"
condition with no warranties of any kind with respect to the suitability of the property for any
purpose or the environmental condition of the subject property.
Section 13 - Waiver. The waiver of any payment provided for herein, the acceptance of any
payment at any time other than the designated payment time, or the failure of Seller to insist upon
3
prompt performance of any condition or other provisions of this Contract, shall not constitute a
waiver of the right of Seller to insist upon prompt and punctual performance at any other time
hereunder.
Section 14 - No Commission. The parties hereby stipulate that they have not consulted with
any real estate broker or salesman with respect to this sale, and no commissions arising from this
sale are due and owing. If, for any reason, a real estate commission is detennined to be owed in
relation to this transaction, Buyer agrees to be responsible for its payment.
Section 15 - Real Estate Reporting Person. The parties agree that the Escrow Agent is the
real estate reporting person as that term is defined under Internal Revenue Code Section 6045( e).
Seller agrees to provide Escrow Agent with a written statement, certified under penalties of perjury,
setting forth Seller's correct name, address, and taxpayer identification number. The parties further
agree that Escrow Agent shall be required to file the informational return required by Internal
Revenue Code Section 6045.
Section 16 - No Oral Agreements. This Contract constitutes the entire agreement between
the parties and there are no representations, warranties, conditions, or agreements other than those
expressly set forth herein. No other agreement, statement, promise, warranty, or representation
made by any party to this agreement that is not in writing and signed by all parties to this Contract
shall be binding.
Section 17 - Representation of Parties. The parties acknowledge that various members of
the law firm Clark, Mize & Linville, Chartered ("CML"), have represented the parties to the
Contract from time to time. Thus, the parties acknowledge having had the right and opportunity
to have this Agreement reviewed by independent legal counsel of their choosing, in advance of
signing this Contract. If any of the parties do not seek the advice of such independent counsel,
then each acknowledges by signing this Contract that each has been advised of that right and that
each expressly and intentionally waives that right and waives any potential conflict of interest.
Section 18 - Default. Except as other remedies are expressly addressed in this Contract, if
Seller or Buyer defaults in the payment of any sums due hereunder, or fails to perform any other
covenant herein contained after receiving ten (10) days written notice of such breach, then in
addition to any other remedies available and at the option of the non-defaulting party, the non-
defaulting party shall have the right to (a) seek damages for the failure of defaulting party to perforn1
this Contract according to the conditions herein stated, or (b) elect to cancel this Contract.
Section 19 - Survival of Covenants. Any agreement, promise, or covenant which by its
terms is intended to extend beyond the closing of this Contract shall endure beyond the closing in
accordance with its terms.
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Section 20 - Notice. Any notice provided for under this Contract shall be given in writing
by certified mail, return receipt requested, as follows:
Seller -
City Clerk
City of Salina
P.O. Box 736
Salina, KS 67402-0736
A"JJ E;'9/C'ftd
St. JoHn's Military School
e (!, /:$o't<)b2.. 0
Salina, KS to 7L(.cl'- 'J 01-- 0
Buyer -
Section 21 - Extent of Contract. This Contract shall be binding upon the successors of the
respective parties hereto.
IN WITNESS WHEREOF, the parties have caused this Contract to be signed by its duly
authorized officers on the day and year first above written.
CITY OF SALINA, KANSAS
By:
(]taM c ~
Alan E. Jilka, M 'or \.
ATTEST:
~L/VL fc
Lieu Ann Elsey, C~ty Clerk
ST. JOHN'S MILITARY SCHOOL
By:
5
RECEIPT BY ESCROW AGENT
The undersigned hereby acknowledges receipt of the executed original of this Contract, and
agrees to act as Escrow Agent and Real Estate Reporting Person as defined under Internal Revenue
Code Section 6045(e). Seller shall execute and deliver a special warranty deed upon execution of
this Contract to the Escrow Agent. Said deed shall be delivered to Buyer by the Escrow Agent
upon the closing of this Contract, pursuant to its terms. This receipt is executed this ~ day of
February, 2008.
C.W. LYNN ABSTRACT CO., INC.
By: t)/J d. ~~
, G
6
Exhibit A
Legal Description
Parcel #1 - North Parcel
A parcel ofland located in the Northwest Quarter of Section I, Township 14 South, Range 3
West of the 6th Principal Meridian in Saline County, Kansas, more particularly described as
follows:
Commencing at the Southwest comer of said Northwest Quarter; thence on an assumed bearing
of S 89058'19" E along the South line of said Northwest Quarter a distance of 44.97 feet; thence
N 00008'57" E along the East right-of-way line of Ninth Street (Old Highway 81), and extensions
thereof, a distance of80.23 feet; thence N 87013'57" E along said East right-of-way line a
distance of29.63 feet; thence N 00027'39" E along said East right-of-way line a distance of
123.95; thence N 02031 '57" E along said East right-of-way line a distance of 327.25 feet to the
POINT OF BEGINNING of the parcel to be described;
- thence continuing N 02031 '57" E along said East right-of-way line a distance of23.05 feet;
- thence N 00004'57" E along said East right-of-way line a distance of 400.00 feet;
- thence N 89053'03" E along said East right-of-way line a distance of25.00 feet;
- thence N 00004'48" E along said East right-of-way line a distance of31.85 feet to a point on the
South line of the North 10.0 acres of the Southwest Quarter of said Northwest Quarter;
- thence N 89055'38" E along said South line a distance of262.14 to the centerline of Dry Creek;
- thence S 03031 '34" W along said centerline a distance of 258.26 feet;
- thence S 17042'19" W along said centerline a distance of 172.08 feet;
- thence S 81020'56" W a distance of223.1O feet to the POINT OF BEGINNING;
Said parcel contains 2.64 acres, more or less, and is subject to easements, reservations and
restrictions of record.
Parcel #2 - South Parcel
A parcel ofland located in the Northwest Quarter of Section I, Township 14 South, Range 3
West ofthe 6th Principal Meridian in Saliue County, Kansas, more particularly described as
follows:
Commencing at the Southwest comer of said Northwest Quarter; thence on an assumed bearing
of S 89058'19" E along the South line of said Northwest Quarter a distance of 44.97 feet; thence
N 00008'57" E along the East right-of-way line of Ninth Street (Old Highway 81), and extensions
thereof, a distance of 80.23 feet; thence N 87013'57" E along said East right-of-way line a
distance of 29.63 feet; thence N 00027'39" E along said East right-of-way line a distance of 25.00
feet to a point on the centerline of Dry Creek, said point also being the POINT OF BEGINNING
of the parcel to be described;
- thence continuing N 00027'39" E along said East right-of-way line a distance of98.95 feet;
- thence N 02031 '57" E along said East right-of-way line a distance of 266.09 feet;
- thence N 81020'56" E a distance of 205.23 feet to a point on said centerline of Dry Creek;
- thence S 17042'19" W along said centerline a distance of 195.99 feet;
- thence S 36043'07" W along said centerline a distance of 260.66 feet to the POINT OF
BEGINNING;
Said parcel contains 1.05 acres, more or less, and is subject to easements, reservations and
restrictions of record.
J.... -
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"
SPECIAL WARRANTY DEED WITH COVENANTS
AND ACKNOWLEDGEMENTS OF EXISTING STATUS
THIS INDENTURE, made this ).,Btr. day of March, 2008, between the CITY OF
SALINA, KANSAS, a municipal corporation, ("City") and the ST. JOHN'S MILITARY
SCHOOL, a Kansas not-for-profit corporation, ("SJMS").
WITNESSETH:
That City, for valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, does by these presents grant, bargain, seIl, and convey unto SJMS, with special
warranty covenants, all of the real estate (parcel No. I - North Parcel and Parcel No.2 - South
Parcel) situated in Saline County and the State of Kansas, l~gally described on the attached and
incorporated Exhibit A (the "Real Estate");
SUBJECT TO easements, restrictions, any other matters of record, and the foIlowing
deed covenants which shall be binding upon and run with the Real Estate until either
. released or modified by the governing body of the City:
(a) . AIl trees, present or future, located on the Real Estate shall be subject to
the same ordinances and regulations of the City as apply to "public trees,"
as that phrase, or its substantial equivalent, is currently or may in the
future be defined by the Salina Code.
(b) SIMS and its officers, directors and employ~es shall neither remove nor
allow the removal from the Real Estate of any live tree of 12" DBH
(Diameter' at Breast Height, measured 4Y2 feet above the ground) from the
Real Estate without the advance written approval of the city manager's
designee.
(c) . SJMS and its officers, directors and employees shall neither engage in nor
. allow "development" of the Real Estate. For p,urposes of this covenant, the
term "development" shall refer to any maA-made change to the Real
Estate, including but not limited to constructing buildings or other
structures, mining, dredging, paving, eXcavating, driIling operations,
storing of equipment or materials, or parking: of vehicles, motorcycles, or
trailers. I"
(d) SIMS and its _officers,_directors,_ and employees shall neither alter .nOL .
allow alteration of the current surface grade elr elevation of any part or all
of the Real Estate without a flood plain development permit issued by the
City, when applicable, and the advance written approval of the City's
governing body.
,~
"
(e) Regarding access to Parcel No. I - North Parcel, City reserves restricted
access along the entire length of North Ninth Street as it bounds Parcel
No. I - North Parcel on the west. Vehicular access to and from Parcel No.
I shall be exclusively via the North Ninth Street Frontage Road as it abuts
the northeast comer of Parcel No. I - North Parcel.
(f) Regarding access to Parcel No.2 - South Parcel, City reserves restricted
access along the entire length of North Ninth Street as it bounds Parcel
No.2 - South Parcel on the west. Vehicular access to and from Parcel No.
2 shall be exclusively from Euclid Avenue via Lot Fifteen (15), College
Court Addition to the City of Salina, Kansas.
TO HAVE AND TO HOLD THE SAME, together with all and singular the tenements,
hereditaments, and appurtenances thereunto belonging, or in anywise appertaining, forever.
The City covenants that the City is lawfully seized of the City's interest in the Property
and has good right to convey the City's interest in the Property and guarantees the quiet
possession of the Property against the claims of those claiming any right, interest or title through
the City, except as may be described above, and further covenants that the Property is free from
all encumbrances created by the City, except as may be described above, and the City will
warrant and defend the Property against all lawful claims of those claiming ariy right, interest or
title through the City, except as may be described above;' but the City does not warrant title
against those claiming a right, interest or title that arose prior to, or separate from, the City's
interest in the Property.
IN WITNESS WHEREOF, the City hereunto has caused this deed to be executed by its
duly authorized Mayor and has caused its corporate seal to be hereunto affixed on the day and
year first above written.
CITY OF SALINA, KANSAS
By:
~ F- .~~?t
Alan E'1ilka, ayor
Ll::u~
Lieu Ann Elsey, CMC, Cit Clerk
ACCEPTANCE OF COVENANTS
and
ACKNOWLEDGEMENT OF EXISTING STATUS BY SJMS
On behalf of' SIMS;-ifsofficers, directors and employees, the Uridersignedduly-- -
authorized representative of SIMS (1) accepts on behalf of SIMS the terms of the deed
covenants set forth above which shall be binding upon and run with the Real Estate until
either released or modified by the governing body of City and (2) acknowledges the following:
J~
,
r
(a)
. "
The Real Estate is currently located witllln the City's RS Single Family
Residential Suburban zoning district and is ~ubject to the applicable limitations
set forth in the Salina Code. :
(b) Parcel No.2 is located within the mapped one-hundred-year flood plain and
floodway and is, therefore, subject to the ordinances, statutes, and regulations
applicable to property within the City's Flood Plain Zoning District.
(c) The City's flood control levee, as regulated by the United States Army Corps of
Engineers, is located upon City right-of-way which bisects Parcel No. I and
Parcel No.2, with the prospect for future development and use of the flood
control levee structure as a recreational trail.
IN WITNESS WHEREOF, SJMS has caused this acceptance of covenants and
acknowledgement of existing status to be executed by its duly authorized officer the day and
year first above written.
By:
STATE OF KANSAS; SALINE COUNTY, ss:
BE IT REMEMBERED, that on this o.Grn day of March, 2008, before me, the
undersigned, a notary public in and for the county and state aforesaid, came Alan E. Jilka, Mayor
of the City of Salina, Kansas, and Lieu Ann Elsey, CMC, City Clerk, who are personally known
to me to be the same persons who executed as such officers the within instrument of writing on
behalf of the City of Salina, Kansas, and such persons duly acknowledged the execution of the
same to be the act and deed of said City.
P,.:m.J~~J!~9ID'-.~EREOF, I have hereunto set ml y hand and affixed my official seal
the day.and ear last above wntten. ,
1'.1 1'\. 1ERRI~BURROUGHS .ifA~ (l. '-f,"A~
ii, ~NotaryPU~hc-SlaleofKansas Not. Public
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BE IT REMEMBERED, that on this M.Jb day. of March, 2008, before me, the
undersigned, a notary public in and for the county and state aforesaid, came E. Andy England,
Chairman of S1.. John's Military School, who is personally known to me to be the same person
who executed as such officer the within instrument of writing on behaif of St. John's Military
School of Salina, Kansas, and such person duly acknowledged the execution of the same to be
the act and deed of said educational institution. '
I
IN TESTIMONY WHEREOF, I have hereunto set my hand and affixed my official seal
the day"ah(fyearlasCab"oVe-written. . .+ .' .
-...... " ~a....~
1'\. 1ERRI A. BURROUGHS Not Public
~ Notary Public~State of Kansas
My Appl Expires April 9, 2009
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I
AFFIDAVIT
COuNTY OF SALINE
STATE OF KANSAS
)
)
)
SS:
I, Greg A. Bengtson, of lawful age, being first duly sworn, upon my oath state:
1. In my capacity as an attorney with the law firm of Clark, Mize & Linville,
Chartered, legal counsel to the City of Salina, Kansas ("City"), I am familiar with the process
undertaken by the City in the course of the sale of two parcels of real estate identified as Parcel
#1 - North Parcel (2.64 acres more or less) and Parcel #2 - South Parcel (1.05 acres more or
less), all located in the Northwest Quarter of Section 1, Township 14 South, Range 3 West of the
6th Principal Meridian in Saline County, Kansas, commonly referred to as East Thomas Park.
SUBSCRIBED AND SWORN to
day of March, 2008.
Sup. Ct. #10695
Further affiant saith naught.
I
o me, the jdersigned authority, on this 02,sth
ffo:a;~u~l;c J1AA^ArtA~
- -~. ---My-appointment expires:
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BURROUGHS
~~: - NotaryPublic-StaleofKansas
.,.0 My Appt. Expires Apnl 9, 2009
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OMS NO. 2502-0265 "'I'
A. B. TYPE OF LOAN:
U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT l.oFHA 2.oFmHA 3.DcONV. UNINS. 4.0 VA 5.DCONV.INS.
6. FILE NUMBER: 17. LOAN NUMBER:
SETTLEMENT STATEMENT T108-129
8. MORTGAGE INS CASE NUMBER:
C. NOTE: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown.
Items marked 'TPOC)" were paid outside the closing; they are shown here for informational purposes and are not included in the totals.
1.0 3/98 (TlOB-129,PFDfTlO8-129f9)
D. NAME AND ADDRESS OF BORROWER: E. NAME AND ADDRESS OF SELLER: F. NAME AND ADDRESS OF LENDER:
St. John's Military School
City of Salina, Kansas
,
G. PROPERTY LOCATION: H. SETTLEMENT AGENT: 48-1316500 I. SETTLEMENT DATE:
N. 9th Street C.W. Lynn Abstract Co., Inc.
Salina. KS 67401 April 2, 2008
Saline County, Kansas PLACE OF SETTLEMENT .
2 Tracts in the NWX 121 N. 7th Street
1-14-3
Saline County, KS Salina, KS 67401
J. SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION
100. GROSS AMOUNT DUE FROM BORROWER: 400. GROSS AMOUNT DUE TO SELLER:
101. Contract Sales Price 14,500.00 401. Contract Sales Price 14,500.00
102. Personal Property 402. Personal pronertv
103. Settlement Charoes to Borrower (Line 1400) 219.00 403.
104. 404.
105. 405. .
Adjustments For Items Paid Bv SeIJer in advance Adiustments For Items Paid Bv Seller in advance
106. CitvfTown Taxes to I 406. CitvfTown Taxes to
107. County Taxes to 407. County Taxes to
108. Assessments to 408. Assessments to
109. 409.
110. 410.
111. 411.
112. 412.
120. GROSS AMOUNT DUE FROM BORROWER 14,719.00 420. GROSS AMOUNT DUE TO SELLER 14,500.00
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDUCTIONS IN AMOUNT DUE TO SELLER:
201. Deoosit or earnest money 501. Excess Deoosit (See Instructions)
202. Princioal Amount of New Loan(s) 502. Settlement Charoes to Seller (Line 1400\ 199.00
203. Existina 10an(s taken subiect to 503. Existinq loan(s) taken subiect to
204. 504. Payoff of first Mortgage
205. 505. Payoff of second Mortaaae
206. 506.
207. 507.
208. 508.
209. 509. -,
Adjustments For Items Unpaid Bv Seller Adiustments For Items UnDaid Bv Seller
210. CitvfTown Taxes 10 510. CityfTown Taxes to
211. County Taxes 10 511. County Taxes to
212. Assessments to 512. Assessments to
213. 513.
214. 514.
215. 515.
216. 516.
217. . 517.
218. 518.
219. 519.
220. TOTAL PAID BYIFOR BORROWER 520. TOTAL REDUCTION AMOUNT DUE SELLER 199.00
300. CASH AT SETTLEMENT FROMITO BORROWER: 600. CASH AT SETTLEMENT TOIFROM SELLER:
301. Gross Amount Due From Borrower (Line 120) 14,719.00 601. Gross Amount Due To Seller (Line 420\ 14,500.00
302. Less Amount Paid By/For Borrower (Line 220) ( ) 602. Less Reductions Due Seller (Line 520) ( 199.00
303. CASH ( X FROM) ( TO) BORROWER 14,719.00 603. CASH ( X TO)( FROM) SELLER 14,301.00
By signing page 2 oflhis stalement, Ihe signatories acknowledge rec eiptofa completed copy of page 1 of this two page statemenl
L. SETTLEMENT CHARGES
700. TOTAL COMMISSION Based on Price $ rm % PAID FROM PAID FROM
Division of Commission line 700) as Follows: BORROWER'S SELLER'S
701. $ to FUNDS AT FUNDS AT
702.$ to SETTLEMENT SETTLEMENT
703. Commission Paid at Settlement
704. to
800. ITEMS PAYABLE IN CONNECTION WITH LOAN
801. Loan OriQination Fee % to
802. Loan Discount % to
803. Appraisal Fee to
804. Credit Report to
805. Lender's Inspection Fee to
806. Mortgaoe Ins. Ann. Fee to
807. Assumption Fee to
808.
809.
810.
811.
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
901. Interest From to @ $ Iday ( days" %)
902. MIP Totlns. lor LileOILoan for months to
903. Hazard Insurance Premium for 1.0 vears to
904.
905. .
1000. RESERVES DEPOSITED WITH LENDER
1001. Hazard Insurance months ail $ oer month
1002. Mortaaae Insurance months Q) $ ner month
1003. CitvfTown Taxes months Q) $ ner month
1004. County Taxes months @ $ ner month
1005. Assessments months @ $ per month
1006. months ail $ ner month
1007. months @ $ per month
1008. Aaareaate Adiustment months ail $ -;;;"r month
1100. TITLE CHARGES
1101. Settlement or Closina Fee to C.W. Lvnn Abstract Co., Inc. 100.00 100.00
1102. Abstract or Title Search to
1103. Title Examination fa
1104. Title Insurance Binder to
1105. Document Preoaration to
1106. Notarv Fees to
1107. Attorney's Fees fa
(inc/udes above item numbers: )
1108. Title Insurance to C W Lvnn Abstract 99.00 99.00
(includes above item numbers: )
1109. Lender's Coverage $
1110. Owner's Coverage $ 14.500.00 198.00
1111.
1112.
1113.
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES
1201. Recording Fees: Deed $ 20.00; Mortgage $ Releases $ 20.00
1202. City/Countv Tax/Stam s: Deed . Mortaane
1203. State Tax/Stamos: Revenue Stamos ; Mortaaae
1204.
1205. ~
1300. ADDITIONAL SETTLEMENT CHARGES
1301. Survev to
1302. Pest Insoection to
1303.
1304.
1305.
1400. TOTAL SETTLEMENT CHARGES IEnter on lines 103, Section J and 502, Section Kl 219.00 199.00
Page 2
The undersigned hereby acknowledge receipt of a completed copy of pages 1 &2 of this statement & any attachments referred to herein.
i HAVE CAREFULLY REVIEWED THE HUD-l SETTLEMENT STATEMENT AND TO THE BEST OF MY KNOWLEDGE AND BELIEF. IT IS A TRUE AND
ACCURATE STATEMENT OF ALL RECEIPTS AND DISBURSEMENTS MADE ON MY ACCOUNT OR BY ME IN THIS TRANSACTION. I FURTHER CERTIFY
THAT I HAVE RECEIVED A COPY OF THE HUO-l SETTLEMENT STATEMENT.
Borrower Seller
:~J?~:~O :~olsal
TO THE BEST OF MY KNOWLEDGE, THE H ETTLEMENT STATEMENT WHICH I HAVE PREPA
FUNDS WHICH WERE HE V~D t!. H BEEN OR WILL BE DISBURSED BY THE UNDERSIGNE
TRANSACTION. .
.
C.W. Lynn Abstract Co., In
Settlement Agent
WARNING: IT IS A CRIME TO KNOWINGLY MAKE FALSE STATEMENTS TO THE UNITED STATES ON THIS OR ANY SIMILAR FORM. PENALTIES UPON
CONVICTION CAN INCLUDE A FINE AND IMPRISONMENT. FOR DETAILS SEE: TITLE 18 U.S. CODE SECTION 1001 & SECTION 1010.
(T108-129/TI08-129/9)