Residential Real Estate Contract & Settlement Statement- 2626 Quail Hollow Drive `I It
\K RESIDENTIAL REAL ESTATE CONTRACT
REalT0"• of the Salina Hoard of REALTORS')
This contract has been prepared in multiple originals dated March 9,2017 and is effective as of the date and time of
final acceptance.
In consideration of the mutual agreements herein, it is agreed by the parties, whether one or more,as follows:(Indicate marital status)
I. SELLER: City of Salina
2. BUYER: Todd Welsh Inc
3. PROPERTY ADDRESS: 2626 Quail Hollow Drive,Salina,KS 67401
LEGAL DESCRIPTION: Lot 16,Block 1 Pheasant Ridge Addition Replat to the City of Salina,Saline County,Kansas
4. PURCHASE PRICE: Buyer shall purchase& pay to Seller as consideration for the above-described real property the amount of:
_ Twenty-five thousand and no/100s Dollars S 25,000.00
In a manner as follows:
EARNEST MONEY:(See Paragraph#13) $ 0.00
DOWN PAYMENT at closing subject to adjustments
and prorations(not including closing costs)by certified funds if required by lender. $ 25,000.00
CASH OFFER: D Yes ❑No
NEW MORTGAGE: (See Paragraphs#7,8,&9) $ ala
Loan fees and prepaid items shall be paid by ❑Buyer
❑Seller(Not to exceed amount specified,
paid at closing,and Buyer to ay any excess costs) S
Owners Title Insurance Policy to be paid by DBuyer❑Seller orXX Divided Equally between Buyer and Seller
Any escrow closing fees shall be paid by ❑Buyer ❑Seller or 0 Divided Equally between Buyer and Seller
INSPECTION FEES AND REPAIRS: (See Paragraph#26(c)) $
BUYER WARRANTY PLAN(Check if applicable and complete all sections)
❑Buyer['Seller agrees to purchase a homebuyer's warranty plan not to exceed S
from to be paid at closing.This plan is a limited service contract covering repair or replacement of the
working components of the Property for one year from the closing date subject to a per claim deductible.
5. CLOSING& POSSESSION: Closing shall be completed on or before March 31,2017 (Closing
Date). Seller shall deliver possession after closing,on or before, March 31,2017 at 10 A M.
6. ❑SALE OF BUYER'S PROPERTY(SECTION MUST BE CHECKED IF APPLICABLE): This contract is contingent upon
the sale and closing of Buyer's property located at:
(See attached Contingency Agreement.)
7. NEW MORTGAGE: Applicable when the purchase of this property is contingent upon the Buyer obtaining a
$ Na (amount)FIRST MORTGAGE LOAN at an initial rate not to exceed %plus required Private
Mortgage Insurance or VA Funding Fee,and for a term of years. Buyer shall apply for said loan within 7 business
days after the Contract is signed by all parties and use every reasonable effort to obtain the above-noted loan. Buyer shall pay for
appraisal and credit report fees at loan application (if required by lender). In the event Buyer is unable to obtain such financing.
the Buyer shall promptly notify the Broker in writing. If the Seller cannot or elects not to assist the Buyer in obtaining the required
financing,then the Earnest Money,less accrued expenses,shall be refunded to the Buyer,and this transaction will be null and
void. Buyer hereby authorizes and requests lending institution to divulge in a timely manner to the listing agent and selling agent
the terms of appraisal,general credit information,and other loan criteria.
8. TYPE OF LOAN BUYER IS APPLYING FOR:❑Conventional Fixed Rate Loan ['Conventional Adjustable Rate Loan
['FHA Loan(See Attached FHA Addendum) ❑VA Loan (See Attached VA Addendum)
9. ❑Kansas Home Investment Partnership Program (KIIIPP): (If Checked Buyer to pay a total investment of 2%of the sales
price. Balance of down payment and closing costs to be paid by Kansas Home Investment Partnership Program with a maximum
contribution of 20% Exact contribution to be determined by purchaser's income level.)
10. SUBJECT TO APPRAISAL: ❑yes 0No This Contract is subject to property appraising for purchase price or greater or
Buyer and Seller have the rieht to re-negotiate the purchase price;and if agreement cannot be reached,this Contract will be null
and void and earnest money less,any expenses incurred,returned to Buyer.
11. 100 Year FLOOD PLAIN:❑Yes If yes,the Buyer understands the property does require flood insurance to secure a mortgage.
❑No 0 Unknown If Unknown then this contract is subject to property not requiring flood insurance. If property is found to be
in the 100 year flood plain,Buyer to have the option of canceling contract and earnest money to be returnAd to Bu r, less any
expenses Mc /
Seller's Initials (J/� __ Page I of 6Buyer's Initials 1
12. SELLERS PROPERTY DISCLOSURE STATEMENT:
Buyer ❑has ❑X has not received the Seller's Property Disclosure Statement.
13. EARNEST MONEY: The Buyer does hereby deposit with Land'title Services Inc (Escrow Agent), in a Trust
Account.Earnest Money in the fort of n/a and in the amount of S 0.00 , as a guarantee that the terms and
conditions of this Contract shall be fulfilled by the Buyer. Buyer acknowledges that Earnest Money shall be deposited
immediately upon acceptance of Contract. Buyer and Seller agree that the Escrow Agent or Listing Broker may retain any interest
earned on escrowed funds. Said EARNEST MONEY shall be applied to the purchase price at closing. In the event Buyer shall fail
for any reason to fulfill any of Buyer's obligations hereunder,Seller may,at Seller's option, cancel this Contract,and thereupon the
said deposit shall become the property of the Seller. In the event the Earnest Money is forfeited as herein above stated,all
expenses of the sale incurred to date by Seller and the Broker shall be paid for prior to any remaining funds being released to
Seller. Pursuant to Kansas Statute 53-3061 (g),the Broker can only disburse earnest money 1)pursuant to written authorization of
Buyer and Seller:2)pursuant to a court order;or 3)when a transaction is closed according to the agreement of the parties.
In the event the Seller is unable to provide merchantable title as herein provided or otherwise defaults, the Earnest Money
shall be returned in full to the Buyer. In addition to forfeiture of Earnest money to Seller or return of Earnest Money to Buyer,
Buyer and Seller shall both have the option of enforcing specific performance of this Contract or any other remedy allowed by law
or equity.
Notwithstanding any other terms of this Contract providing for forfeiture or refund of the Earnest Money deposit,the parties
understand that applicable Kansas real estate laws prohibit the Broker/Escrow Agent from distributing the Earnest Money deposit,
without consent of all panics to this Contract. Buyer and Seller agree that failure by either to respond in writing to a certified letter
from broker within seven(7)days of receipt thereof or failure to make written demand for return or forfeiture of any Earnest
Money deposit within thirty(30)days of notice of cancellation of this agreement shall constitute consent to distribution of the
earnest money as suggested in any such certified letter or as demanded by the other party hereto. If a dispute arises over
disposition of funds or documents deposited with the Escrow Agent or the Listing Broker,Seller and Buyer agree that any
attorney's fees,court costs and/or other legal expenses incurred by the Escrow Agent and any Broker in connection with such
dispute shall be reimbursed from the Earnest Money or other funds deposited with the Escrow Agent or Listing Broker.
14. SPECIAL PROVISIONS:
Buyer is licensed Realtor in Kansas.
•
15. BROKERAGE RELATIONSHIPS DISCLOSURE: Seller and Buyer acknowledge that the real estate licensees involved in
this transaction may be functioning as agents of the Seller,agents of the Buyer,or transaction brokers.Licensees functioning as an
agent of the Seller have a duty to represent the Seller's interest and will not be the agent of the Buyer. INFORMATION GIVEN
BY THE BUYER TO AN AGENT FOR THE SELLER WILL BE DISCLOSED TO THE SELLER. Licensees functioning as an
agent of the Buyer have a duty to represent the Buyer's interest and will not be an agent of the Seller. INFORMATION GIVEN
BY THE SELLER TO AN AGENT FOR THE BUYER WILL BE DISCLOSED TO THE BUYER. Licensees functioning in the
capacity of a Transaction Broker are not agents for either party and do not advocate the interests of either party. SELLER AND
BUYER ACKNOWLEDGE THAT THE REAL ESTATE BROKERAGE RELATIONSHIPS BROCHURES HAVE BEEN
FURNISHED TO THEM.
Listing Licensee is functioning as:(check one)❑Seller's Agent or❑X Designated Seller's Agent(Supervising Broker acts as
Transaction Broker)or['Transaction Broker,orEN/A, Seller(s)is(are)representing themselves
AGENT Charles Ross/Ashler Caldwell FIRM RE/Max Advantage Realtors Inc
Selling Licensee is functioning as:(check one)['Seller's Agent or❑X Buyers Agent or❑Designated Seller's Agent(Supervising
Broker acts as Transaction Broker)or['Designated Buyer's Agent(Supervising Broker acts as Transaction Broker)
or ['Transaction Broker,or❑N/A, Buyer(s)is(are)representing themselves
AGENT Todd Welsh,BR00046483 FIRM SalinaHomes.com
Seller's Initials Page 2 of 6 Buyer's Initials
16. PROPERTY:The real estate described herein,together with improvements attached thereto,shall include, if any,gas heaters,
attic-fan and%or ceiling fans,central air-conditionine,all window air-conditioning unit(s), lighting, heating and plumbing
equipment and fixtures,attached fireplace screens and doors,bathroom mirrors and attached mirrors,window and porch shades,
shutters,storm windows and doors,screens,all window and door coverings now in place, attached curtain and drapery rods,
awnings,television antenna and antenna equipment,keys.water softener(if owned),attached outside cooking units,gas lights,
automatic garage door equipment including remote transmitter(s),attached and unattached wall-to-wall carpeting,built-in kitchen
appliances,shelves, fire,smoke. and burglary detection systems(if owned),mail boxes, installed water well pumps,rural water
meters/certificates, propane/butane tank(s)(if owned by Seller)and contents to be prorated to date of closing, swimming pool and
all pool equipment,all flowers,trees and shrubs,and anything else buried, nailed,bolted,screwed,glued or otherwise
permanently affixed to the premises,or any improvements thereon,with the following exceptions:
17. PRORATION OF TAXES AND RESERVES: Seller represents and warrants that all taxes and special assessments due and
payable shall be paid from the proceeds of the sale as hereinafter provided.All real estate taxes,the current annual installment of
special assessments(unless prohibited by lender),rental income,equipment leases,and Homeowner's Association dues, if any,
shall be prorated as of the Closing Date,unless otherwise agreed. General taxes shall be prorated for the calendar year on the basis
of taxes for the previous year if taxes for the current year are unknown unless the previous year's assessed valuation was based on
a lesser-improved property, in which case the taxes shall be determined from the assessed valuation and the officially-established
mill levy prevailing at closing. Special assessments shall be prorated on the basis of the amount(for the calendar year)
ascertainable at the time of closing by the Closing Agent. Rental deposits, if any,shall be transferred to Buyer at closing unless
otherwise specified. Buyer acknowledges that the mill levy,classification,assessed valuation,and/or taxes may change from year
to year during Buyer's ownership,and that periodic reappraisal,required by law,may result in a change in taxes.
18.TITLE EVIDENCE:The Seller shall cause to be furnished to Buyer at least three(3)business days prior to closing a title
insurance company's written commitment"title binder"to issue after closing a title insurance policy in an amount equal to the full
purchase price naming Buyer as the insured.The title binder shall show marketable title vested in Seller,subject to: Easements,
mineral rights and reservations of record, if any,encroachments which would be disclosed by survey,rights-of-way of record,
trees,plantings and fences thereon;restrictions and protective covenants of record,provided no forfeiture provisions are contained
therein;unmatured special assessments,zoning laws,ordinances and regulations;rights of tenants in possession; the liens, if any,
described herein; and those exceptions which are standard in the title company's Form B as specified herein.A copy of the title
binder will be furnished to lender and/or Buyer's attorney as promptly as possible. In the event the Contract is for new
construction,the Builder/Seller may receive a Builder discount if any.
Buyer shall pay for any lender's/mongagee's/Instrument-holder's title insurance coverage.The Seller shall be responsible to use
due diligence to resolve any title defects at Seller's expense,subject to the foregoing exceptions.Should the Seller be unable to
furnish marketable title subject to the foregoing exceptions, and should this Contract be terminated due to same,then the Earnest
Money shall be refunded promptly to the Buyer and the Seller shall reimburse to the Buyer the cost of Buyer's accrued loan costs,
attorneys fees for examining title,and title insurance cancellation fees,and all parties shall be released from any further liability
thereunder.
19. INSURANCE: Seller shall maintain current insurance in force until closing date. The Buyer,at closing, shall furnish insurance
policies necessary for the protection of the Instrument holder(s),containing loss clauses in favor of the Instrument holder(s)as
their interests may appear. If required and so specified,the insurance policies shall be held by the Instrument holder(s)or escrow
agent until said lien is paid in full. Buyer agrees to purchase flood insurance policy if and when required by the lending agency
pursuant to Federal Law.Should possession take place prior to closing,Buyer shall secure hazard insurance for personal property
effective on or before possession date.
20. CASUALTY LOSS: In the event of property damage to the premises by fire or other casualty prior to closing, the Seller shall
restore same. Buyer shall have the option to proceed with the estimated costs of repair being placed in escrow by the Seller,or
Buyer is GRANTED THE OPTION TO TAKE THE PROPERTY AS IS, PLUS INSURANCE PROCEEDS, DEDUCTIBLES,
AND RECOVERABLE DEPRECIATION IF ANY. If the estimated cost of repair exceeds 10%of the purchase price,either
Buyer or Seller may cancel this Contract and all Earnest Money shall be returned to Buyer, less expenses.
21. DELIVERY OF DEED: Prior to the Closing Date,Seller shall execute and deliver a General Warranty deed
(to be held in escrow)and all other documents reasonably necessary to complete the closing. The deed shall convey to Buyer a
marketable fee simple title to the property free and clear of all liens and encumbrances except as provided in this Contract.
ON OR BEFORE THE CLOSING DATE,SELLER AND BUYER AGREE TO DELIVER TO THE CLOSING AGENT A
CASHIER'S CHECK OR OTHER CERTIFIED FUNDS SUFFICIENT TO SATISFY THEIR RESPECTIVE OBLIGATIONS
UNDER THIS CONTRACT.SELLER ACKNOWLEDGES THAT DISBURSEMENT OF PROCEEDS MAY NOT BE MADE UNTIL
AFTER THE WARRANTY DEED OR INSTRUMENT OF CONVEYANCE AND, IF APPLICABLE,MORTGAGE OR DEED OF
TRUST HAVE EEN RECORDED. x^1
Seller's Initial __ Page 3 of 6 Buyer's Initials ---%e
22. INTERIM MAINTENANCE: Until Buyer takes possession,the Seller agrees to maintain heating(sufficient to avoid frozen
water lines),sewer,plumbing and electrical systems, and any appliances and equipment being conveyed,in proper working order,
and to keep the roof watertight and to maintain the lawn,shrubbery,trees,and pool, if any.Seller agrees to convey the property
covered herein and deliver possession of same in a like or better condition than it is now, reasonable wear and tear excepted.Seller
will advise utility companies to read meters on the date of possession for final billing purposes. It is the Buyer's responsibility to have
the utilities put into their name at the time of possession.
23. SURVEY: Buyer understands that the lender may order a survey called a"Mortgage Title Inspection", which does not include
staking of property corners. Buyer is also aware that title insurance may not cover survey-related issues even if a recent survey has
been completed. The title policy furnished under paragraph 18 will contain a survey exception under Schedule B unless Buyer
provides a boundary survey to the title company at closing at Buyer's expense. Brokers shall not be held responsible for any
defects,encroachments,overlaps,boundary line disputes,acreage matters,or other matters which could be disclosed by a Survey.
Seller warrants that there is ingress and egress to said property.
24. LIENS: Seller represents and warrants that there are no unpaid bills for labor or material that might fonn the basis of a mechanic's
lien against said premises,and that there are no unpaid(whether recorded or not)chattel mortgages,conditional sales Contracts,
financing statements,or security agreements affecting any fixture,portion of the premises or item of personal property covered by
this Contract.Any existing liens upon the premises which the Seller is required to remove under this Contract may be paid and
discharged from the sale proceeds at the closing of the sale. Seller shall indemnify and hold Buyer harmless from any obligation
for payment of any amounts by reason of any mechanic's lien which may be filed for labor performed or materials furnished prior
to closing of this Contract. _
25. Kansas law requires persons who are convicted of certain crimes, including certain sexually violent crimes,to register with the
sheriff of the county in which they reside. If you,as the Buyer,desire information regarding those registrants,you may find
information on the homepage of the Kansas Bureau of Investigation(KB')at http://www.Kansas.govikbi or by contacting the
local sheriffs office.
26. INSPECTIONS(APPLICABLE INSPECTIONS MUST BE CHECKED): (a)Buyer and Seller agree that the real estate
licensees involved in this transaction are not experts regarding whether any environmental or health hazards, defects in the
mechanical equipment or systems,structural defects,or damage from wood destroying insects exist in and on the property. Buyer
and Seller should seek expert advice and obtain inspections to determine if hazards,defects or damage exist in and on the
property. If inspections are not performed regarding all or part of the property, Buyer is bound by whatever information an
inspection would have revealed,and waives any claim,right or cause of action relating to or arising from any condition of the
property that would have been apparent had inspections been performed. Unless otherwise provided in paragraphs relating to
specific inspections,Buyer accepts the property in its current condition.
(b)Seller and buyer jointly and severally agree to indemnify and hold the listing and selling brokers harmless from any and all
claims,actions,damages, liability and expense including,but not limited to attorneys and professional fees incurred in connection
with any preventative,remedial or other clean-up action necessary to comply with all applicable federal,state and local
environmental laws,rules regulations or ordinances.Seller warrants that to the best of Seller's knowledge and belief after due
inquiry,the property complies with and Seller is not in violation of and has not violated an applicable federal,state and local
environmental laws,rules,regulations or ordinances.This shall not be deemed a waiver or modification of any implied warranties
which may exist.
(c)Buyer shall have access to the premises for the purpose of inspections n/a days(10 if left
blank)from the effective date of the contract. The Buyer shall,within two(2)business days following the end of the inspection
period,provide the seller with notice, in writing of any deficiencies. If Buyer fails to provide such written notice,or waives
inspections indicated below it shall be conclusively presumed that the premises are acceptable. In the event that any of the
inspections performed on the property recommend or require repairs or treatments to be made,the Seller agrees to make those
repairs or treatments provided the cost of repairs or treatments does not exceed S (0 if left blank). If
the costs of repairs,remedies or requirements exceed the amount specified, Seller, Buyer,or both, may pay any portion of the
excess amount. Buyer and Seller have 3 business days from the time of written notice to negotiate remedies or repairs. If Seller
and Buyer cannot agree upon the payment of the excess amount or disposition,this contract is canceled and any Earnest Money
shall be returned to the Buyer, less any costs incurred. If Seller completes repairs as agreed,the parties agree that Seller's repair
obligations hereunder shall be satisfied. Seller agrees to give Buyer reasonable access to property before the closing date so that
Buyer or Buyers representatives may,at Buyer's expense,reinspect any repairs made.
(d) If Buyer's inspections reveal Unacceptable Conditions, Buyer may do any one of the following: (1)Accept the property"As
Is."(2)Cancel the Contract by notifying Seller in writing within a period of (two(2)Business Days if left blank)days after
receipt of the inspection report. If Buyer seeks cancellation of this Contract based on an Unacceptable Condition identified in any
inspection, Buyer must provide to Seller and/or Seller's Agent a complete copy of the inspection report upon which Buyer is
relying.(3) If the costs of repairs,remedies or requirements exceed the amount specified,Seller, Buyer,or both,may pay any
portion of the excess amount(amount specified in Paragraph 26(c)).An Unacceptable Condition is any condition identified in a
written inspection report prepared by an independent qualified inspector of Buyer's choice,which condition is unacceptable to
Buyer and not otherwise excluded in this contract. An unacceptable condition does not include any mechanical system that is in
operating condition. Operating condition is the system's ability to operate in accordance with its age and its of nal i ended use and
does not imply t the system meets current design criteria,materials,or building codes.
Seller's Initials _ Page 4 of6 Buyer's Initials
0 Request ENVIRONMENTAL OR HEALTH INSPECTIONS: Buyer may at expense,conduct
inspections to determine the presence of any environmental or health hazards affecting the Property.These inspections
EX Waived may cover,without limitation,the following: Radon gas,asbestos, formaldehyde foam insulation. lead-based paint,
mold, fungi,bacteria and other microbials or any other environmental or health hazard.
'"Every buyer of residential real property is notified that the property may present exposure to dangerous concentrations of indoor
radon gas that may place occupants at risk of developing radon-induced lung cancer.Radon,a class-A human carcinogen,is the
leading cause of lung cancer in non-smokers and the second leading cause overall.Kansas law requires sellers to disclose any
information known to the seller that shows elevated concentrations of radon gas in residential real property.The Kansas department
of health and environment recommends all home-buyers have an indoor radon test performed prior to purchasing or taking
occupancy of residential real property.All testing for radon should be conducted by a radon measurement technician.Elevated
radon concentrations can be easily reduced by a radon mitigation technician. For additional information go to
www.kansasradonprogram.org."
Request LEAD-BASED.PAINT INSPECTIONS: This contract is contingent upon a risk assessment or inspection of the
property for the presence of lead based paint and/or lead-based paint hazards(`)at the Buyer's expense until 9:00 p.m.
JWaived on the calendar day(10th day if left blank)after ratification.This contingency will terminate at the above
predetermined deadline unless the Buyer(or Buyer's agent)delivers to the Seller(or Seller's agent)a written Contract
addendum listing the specific existing deficiencies and corrections needed,together with a copy of the inspection
and/or risk assessment report. Every purchaser of any interest in residential real property on which a residential
dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that
may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce
permanent neurological damage, including hearing disabilities, reduced intelligence quotient,behavioral problems,and
impaired memory. Lead poisoning also poses a particular risk to pregnant women.The seller of any interest in
residential real property is required to provide the buyer with any information on lead based paint hazards from risk
assessments or inspection in the seller's possession and notify the buyer of any known lead-based paint hazards.A risk
assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.
* Intact lead-based paint that is in good condition is not necessarily a hazard.See EPA pamphlet"Protect Your
Family from Lead in Your Home" for more information.
Request MECHANICAL INSPECTIONS: Buyer may at expense conduct inspections of the mechanical
equipment and systems servicing the property.Seller agrees that the following equipment and systems, if any,shall be
EX Waived in operating condition at the time of closing: all appliances, plumbing system(including waste water system),electrical
system,heating system,central air conditioning system,and all other mechanical equipment sold with the property.
Operating condition is the system's ability to operate in accordance with its age and its original intended use
and does not imply that the system meets current design criteria, materials,or building codes.
Request STRUCFIIRAL INSPECTIONS: Buyer may at expense conduct inspections of all structural
aspects of the property by qualified professionals to determine the existence of any structural defects.These
❑X waived inspections may cover,without limitation,the following: foundation slab,roof, fireplace,chimney,sliding windows or
doors,ceiling, floors,the exterior,the interior,any wall, fence, deck, sidewalk,driveway,or other structural aspect of
the property.
Request WOOD INFESTATION INSPECTIONS: Buyer may at expense arrange for an inspection
by a licensed pest control firm(unless Seller is required to pay pursuant to Department of Veterans Affairs
QWaived regulations),to determine the presence of wood destroying insects to all improvements on the Property.Seller shall pay
for treatment if infested and furnish Buyer with a certificate of treatment issued by said firm(if treatment does not
exceed the cost specified in Paragraph 26(c)).
❑Request WHOLE HOUSE INSPECTION: Buyer may at expense arrange for a Whole House Inspection
by a qualified whole house inspector to perform an inspection on the main systems of the home. If the Whole House
❑X Waived Inspector finds deficiencies in the home,they may recommend further inspections be performed by a certified
technician for that particular system of the home,and Seller agrees to allow any additional recommended inspections.
QRequest PRIVATE WASTEWATER SYSTEM AND/OR WELL INSPECTION: Buyer may at expense
arrange for a Private Wastewater System and/or Well Inspection(if the primary drinking water source is a well).The
QX Waived Seller is responsible for having the Septic Tank(if any) pumped for Inspection purposes at the Seller's Expense.
QX Yes QNo AS IS SALE: Buyer has carefully inspected the property. Subject to any inspections requested above,and cancellation
of this agreement as allowed herein, Buyer agrees to purchase the property in its present condition only,without
representations,warranties or guaranties of any kind by Seller or any real estate licensee concerning the condition or
value of the property. Buyer understands it has been suggested that inspections be performed,that it is important for
Buyer to independently investigate conditions at the property and that neither the Seller nor real estate licensees
involved are experts at detecting or advising on conditions existing or repairs needed at the property.Any express
warranty or representation by Seller or the real estate licensees is specifically set out herein.(See Paragraph :14
. Special Provisions)
Seller's Initials _ Page 5 of 6 Buyer's Initials
27. HEIRS AND ASSIGNS: This contract constitutes the entire agreement between the panics and supersedes any previously
executed Contracts,representations,verbal or written,to buy and/or sell the Property and cannot he changed except by their
written agreement.Neither this Contract,nor any interest herein,shall be transferred or assigned by Buyer without the prior
written consent of Seller.This Contract shall be fully binding upon the parties, their heirs, executors,administrators,successors
and assigns except as limited herein.No assignment shall serve to release or relieve the party assigning from any responsibilities
or obligations hereunder. The laws of Kansas shall govern this Contract and its validity,construction and performance.
28. NOTICES:Any notice required under the terms of this agreement shall be delivered by facsimile, U.S. Postal Service,private
delivery service,e-mail or in person.The address to which the Notice shall be deliQered to any party to this contract is the address
referenced in this contract, unless a party requests in writing that delivery be to a different address. The Notice shall be deemed to
be delivered upon the date of receipt. Delivery to a parry's licensee or licensee's designated broker shall be treated as delivery to a
party.
29. DEFAULT AND REMEDIES: A party(either Seller or Buyer)to this Contract shall be in default under this contract if the party
fails to comply with any material term or obligation of the Contract in the time required by the Contract. Upon default,the parties
shall have the remedies set forth below:
(I)Upon default by the Seller, the Buyer(I)may seek to have the Contract specifically enforced and recover any damages
caused by Seller's delay in performing the Contract;or(2)terminate the contract and, if the Buyer chooses,pursue any damages
the Buyer incurred as a result of Seller's breach of the Contract. If the contract is terminated,the Earnest Money will be distributed
as previously provided in this contract.
(2)Upon default by the Buyer,the Seller(I)may seek to have the Contract specifically enforced and recover any damages
caused by Buyer's delay in performing the Contract;or(2)terminate the Contract and, if the Seller chooses,pursue any damages
the Seller incurred as a result of Buyer's breach of the Contract. If the contract is terminated, the Earnest Money will be distributed
as previously provided in this contract.
If, upon default, either Seller or Buyer determines to pursue the Seller's or Buyer's remedies,and the non-defaulting party
is successful in enforcing his or her remedy,then, unless otherwise provided by law,the party who defaulted on the
contract will pay the non-defaulting party's attorney fees,costs,and/or expenses incurred in enforcing the non-defaulting
party's remedy.
30. For properties located within the city limits of Salina: Buyer and Seller acknowledge that the Federal Emergency
Management Agency(FEMA) is currently re-evaluating the Base Flood Elevation (BFE)and this property's Flood Zone
Status may change. Buyer should satisfy themselves by calling the City of Salina at 785-309-5720,as to whether the
property they are purchasing may require flood insurance now or in the future.
31. This contract has been approved as,a form contract by attorneys for the Salina Board of REALTORS®for use by its
members only.This is a legally binding contract when the blanks are completed and,Seller and Buyer sign the contract. If
not understood,the Salina Board of REALTORS®,the listing and selling brokers recommend both Seller and Buyer seek
the advice of an attorney before signing the completed contract. Additionally,the brokers recommend that Buyer retain an
attorney to pass upon the marketability of the title to the property and any other legal questions. Buyer and Seller hereby
acknowledge receipt of separate expense itemizations estimating approximate costs to be incurred in acquiring or
disposing of this Property. -7,
EXECUTED THI DATE• Time: EXECUTED THIS DATE: /��rry't�u:
(S Iter) (Buyer) `/C/ /`'�
L ,ER BU1'L'`r ` -Ara r
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SELLER /BUYER
The date and time of final acceptance,the "EFFECTIVE DATE"is: Com!
COUNTEROFFER AGREEMENT ATTACHED: (please initial ONLY if a Counteroffer Agreement is attached)
Seller's Initial Buyer's Initials
Approved 4/09 updated 4/10 by SBOR Legal Counsel Page 6 of 6
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�! / Ashley Caldwell will be a transaction broker for 2626 Quail Hollow Drive
®. Salina,Kansas 67401.
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RFIAIIV Advantage REALTORS',Inc.
415 E. Iron
Salina, Kansas 67401
• Office: (785)825-5200
Office: (800)825-0206
Mt8 a Fax:(785)825-5695
tO Each Office Independently owned and°pendad
B. Type of Loan
Inc.Land Title Services, I1. 0 FHA 2. Q FmHA 3.Q CON V. UNINS.
4. Q VA 5. Q CONY INS. 5.0 OTHER
A. US.Department of Housing& Urban Development 6. File Number 7. Loan Number
T117-15418
Settlement Statement 8. Mortgage Ins.Case No.
C. Notes: This form is furnished to give you a statement of acral settlement costs. Amounts paid to and by the settlement agent are shown.
Items marked"(POC]"were laid outside the closing;they are shown here for informational purposes and are not included in the totals.
D. Name and Address of Borrower E. Name,Address,Tax ID of Seller F. Name and Address of Lender
Todd Welsh,Inc. City of Salina CASH
221 S.Morris Dr. 300 W.Ash Room 202
Salina,KS 67401 Salina,KS 67401
G. Property Location: 2626 Quail Hollow Dr
Salina,KS 67401
Saline County,Kansas
Lot 16,Block 1,Pheasant
Ridge Addition Replat
H. Settlement Agent: Land Title Services,Inc. TIN: 48-0974247
Place of Settlement: 136 N.7th St.
Salina,KS 67401
I. Settlement Date: April 6,2017 Disbursement Date: April 6,2017
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 25.000.00 401.Contract Sales Price 25.000.00
102.Personal Property 402.Personal Property
103.Settlement Charges to Buyer(Line 1400) 214.50 403.
104. 404.
105. 405.
Adjustments For Items Paid By Seller in Advance Adjustments For Items Paid By Seller In Advance
106. City/Town Taxes to 406. City/Town 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 25,214.50 420.Gross amount due to seller 25,000.00
200.Amounts paid by or in behalf of the borrower 500.Reduction in amount due to seller
201. Deposit or earnest money 501.Excess Deposit(See Instructions)
202.Principal Amount of New Loan(s) 502.Settlement Charges to Seller(Line 1400) 1.69650
203.Existing loan(s)taken subject to 503.Existing loan(s)taken subject to
204. 504. Payoff First Mortgage _
205. 505. Payoff Second Mortgage
206. 506.
207. 507.
208. 508. •
209. 509.
Adjustments for items unpaid by seller Adjustments for items unpaid by seller
210. Citv/fown Taxes to 510. Cityfrown Taxes to
211. County Taxes to 5I L 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 by/for borrower I 520.Total reduction in amount due seller 1,696.50
300.Cash at settlement from/to borrower 600.Cash at settlement to/from seller _
301.Gross Amount Due From Borrower(Line 120) I 25.214.50 601.Gross Amount Due To Seller(Line 420) I 25.000.00
302.Less Amount Paid By/For Borrower(Line 220) I( ) 602.Less Reductions Due Seller(Line 520) I( - 1,696.50'
303.Cash( X From)( To)Borrower 25,214.50 603.Cash( X To)( From)Sdler 23,303.50
Land Title Semites,Inc. File Number: T117-15418
L. Settlement Charges
700.SALES/BROKER'S COMMISSION Based on Pdce 25.000.00 (a) 6.0000% 1,500.00 PAID FROM PAID FROM
Division of Commission(line 700)as Follows: BUYER'S SELLER'S
701.S 750.00 to Re/Max Advantage Realtors FUNDS AT FUNDS AT
702.5 750.00 to SalinaHomes.com SETTLEMENT SETTLEMENT
703.Commission Paid at Settlement 1.500.00
704. to
800.Items payable in connection with loan
801.Loan Origination Fee
802.Loan Discount
803. Appraisal Fee to
804. Credit Report to
805. Lender's Inspection Fee to
806. Mortgage Ins.App.Fee to
807. Assumption Fee to
808. Tax Service Fee
809. Underwriting Fee
810. Document Preparation Fee
811. Flood Certification Fee
900.Items required by lender to be paid in advance
901.Interest From to @ S /day ( days %)
902. Mortgage Insurance Premium for months to
903.Hazard Insurance Premium for 1.0 years to
904.
905.
1000.Reserves deposited with lender
I001.Harard Insurance ()a S per
1002.Mortgage Insurance (a) S per
1003. Citv/rown Taxes (a) S per
1004. County Taxes (a) S per
1005. Assessments ()a S Per
1006.
1007.
1008. Aggregate Adjustment
1100.Title charges
1101. Settlement or Closing Fee to Land Tide Services.Inc. 75.00 75.00
1102. Abstract or Title Search to
1103. Title Examination to
1104. Title Insurance Binder to
1105. Document Preparation to
1106. Notary Fees •
to
1107. Attorney's Fees to
(includes above item numbers: )
1108. Title Insurance to Old Republic Title Insurance Co S.Central Div. 121.50 121.50
(includes above item numbers:
1109 Lender's Coverage S
IIi0.Owner's Coverage 5 25,000.00 243.00
1111. Courier/Wire/Entail Doc Fes
1112. Loan Closing Fee
1113.
1200.Government recording and transfer charges
1201.Recording Fees: Deed S 18.00 Mortgage S Releases S 18.00
1202.City/County Tax/Stamps: Deed Mortgage
1203.Mortgage Registration Tax: Mortgage
1204.
1205.
1300.Additional settlement charges
1301. Survey to
1302.
1303.
1304.
1305.
1400.Total settlement charges(entered on Lines 103,section J and 502,section K) • 214.50 1,696.50
CERTIFICATION
I have carefully reviewed the HUD-1 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. 1 further certify that I have received a copy
of the HUD-1 Settlement Statement.
I further certify that I do understand and agree that the proration for general property taxes and/or special assessments provided in the
HUD-1 Settlement Statement was calculated by using information available at the time of closing and tax prorations for the current year
may have been estimated. Accordingly,the undersigned do hereby hold Land Title Services,Inc. and/or Lender harmless from any
liability or damages caused by an inaccurate proration for taxes resulting from any variation or difference in the actual property taxes
assessed for the current year.
I agree that terest accrued to Escrow agent's Trust Account shall belong to Escrow Agent.
Buy orr vers:
Todd - sh, III ,
BY illsai""_YI�`
-si. nt
Sell ts:
Ci ofSa .• 'ansas
. . � -t_
Kaye .Cras •'rip or •
To the best of my knowledge,the HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction.
I have caused or will cause the funds to be disbursed in accordance with this statement.
Land Title Services,Inc.
Date: April 6,2017
Settlement Agent
WARNLNG: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties
upon conviction can include a fine and imprisonment.For details see: Title 18; U.S.Code Section 1001 and Section 1010.