HomeMy WebLinkAboutCLOSING STATEMENT PENSION PROPERTY QUIT CLAIM DEED
.
~ AUGUSTA-RICHMOND COUN~TY COMMISSION
STEPHEN E. SHEPARD
County Attorney
Augusta Law Department
BOB YOUNG
Mayor
STAFF ATTORNEYS
Vanessa Flournoy
Harry B. James, III
Betty Beard
Marion Williams
Barbara Sims
Richard Colclough
Bobby G Hankerson
Andy Cheek
Tommy Boyles
Jimmy Smith
Wm. "Willie" H. Mays, I1I
Don A. Grantham
Wm. "Willie" H. Mays, III
Mayor Pro Tern
Frederick L. Russell
Interim Administrator
March 29, 2005
CLOSING STATEMENT
Reply to:
701 Greene Street, Suite 104
Augusta, Georgia 30901
Of property being purchased this date by Augusta, Georgia from David Persaud,
Finance Director of Augusta-Richmond County, Georgia (also known as Augusta,
Georgia) as the official who is the successor-in-interest to the position formerly known as
the Comptroller of the City Council of Augusta, Georgia, being known as the "Pension
Property bounded by the Savannah River levee on the North, Fifth Street on the east,
Reynolds Street on the south, and Sixth Street on the west" (Map/Parcel 047-2-003-00-0)
and Augusta, Georgia.
SELLER STATEMENT
Sales Price:
Less: Earnest Money:
Balance:
$1,700,000.00
$ 0.00
$1,700,000.00
Balance Due Seller:
$1,700,000.00
BUYER STATEMENT
Sales Price:
Less: Earnest Money:
Balance:
$1,700,000.00
$ 0.00
$1,700,000.00
Additions to Sales Price:
None
$
0.00
Balance Due From Purchaser:
$1,700,000.00
Augusta Law Department
501 Greene Street, Suite 302. Augusta, Georgia 30901
(706) 842-5550 - Fax (706) 842-5556
County Attorney
701 Greene Street, Suite 104, Augusta, Georgia 30901
(706)724-6597 - Fax (706) 722-4817
Covenant to Survive Closing:
Grantor has conveyed this property by this instrument to the Grantee, Augusta, Georgia,
for payment of the appraised value of $1,700,000.00. Provided further, if this property is
sold by Augusta, Georgia within two (2) years of the date hereof for a price in excess of
$1,700,000.00, then any net proceeds of sale realized by Augusta, Georgia in excess of
the $1,700,000.00 purchase price will be remitted to the Trustee of the Pension Fund.
"Net proceeds" is defined to be the amount realized by Augusta, Georgia after deduction
from the gross proceeds from the sale, any and all necessary expenses incurred by
Augusta incident to said sale including but not limited to real estate commissions,
attorneys fees, engineering fees or other professional services incurred in connection with
said sale. After said two (2) year period, this condition will no longer be attached to this
property unless it is re-imposed by a vote of the Augusta Commission, in which case the
conditions herein imposed can be extended for another two (2) years. The vote must be
taken by the Commission on or before March 1, 2007. This condition is included in this
conveyance to memorialize the commitment of Augusta, Georgia to pass the entire. .., ~
appreciation in value of this property to said Trustee for the benefit of the pensioners. f/&
SELLER:
TRUSTEES OF THE 1949 PENSION
PLAN
~
M . on F. Williams, Commissioner
~~
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B b S C
ar ara Ims, ommlSSlOner
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Tommy Boyles,\:::ommissioner
am H. Mays, III, C mmissio r
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Don A. Grantham, Commissioner
l-f (f '2--/0 '-f
David Persaud, i ance Director of Augusta,
Georgia, in his representative capacity as
Custodian of The General Retirement Fund of
The City of Augusta
BUYER:
~~
AUGUSTA, GEORGIA
Attest:
By: ~\~{
Mayor
dhf#/~)
Clerk of Cotrup"sslOn f .'
,
/
Seal
Funds are available in the following accounts:
5 Pl-(/~III/ r-utlldr $' I, ),.-5-0, (;J uV
CAP IT./) l.. ChilL4~ 1='Ufl/'d.c ., 45'':'ID-.;:;J
)T11'A-L. $//7019, C?OV
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3/ ;;--J/PS
FINANCE DEPARTMENT
DAVID PERSAUD, FINANCE DIRECTOR, MPA, CGFM, CPE
Tammy Strange, CPA, Assistant Finance Director
Donna B. Williams, CGFM, Assistant Finance Director
Sandra M. Wright, CWCP, Risk Management Manager
Ron Crowden, Fleet Manager
Room 207 - Municipal Building
530 Greene Street - AUGUSTA, GA 30911
(706) 821-2429 - FAX (706) 821-2520
WW'W.augustaga.gov
Memorandum
DATE:
February 10,2004
TO:
Steve Shepard, City Attorney
.1
t
FROM: David Persaud, Finance Dire
SUBJECT: Purchase of Pension Property
Your proposal for the purchase of the Pension Property can be accomplished as we
discussed. I am outlining below the option.
1) Real Estate 1949 Pension Plan current value
$1,267,600
2) Appraised value done by J. Marshall
Vann on December 23,2003
$1,700,000 (I)
(a) Available in SPLOST Phase IV Fund
$1,250,000
(b) Available in Richmond County Public
Facilities, Inc. COPS Series 1993 Debt
Reserve A/C $1,570,756 (balanced
required $450,000)
Total Available
$ 450,000
$1. 700.000
(1lHighest appraised value
The purchase could be financed with the currently available funds in SPLOST and the
S450,000 upon receipt of these funds from the Bank of New York, once the claims for
these funds have been made.
Cc: George Kolb, Administrator
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Book 00986:2127 Augusta - Richmond County
200502212304/22/200513:47:08.00
$0.00 QUITCLAIM DEED
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2005022123 Augusta - Richmond County
Return to:
County Attorney
Suite 104, 701 Greene Street
Augusta, Georgia 3090 I
STATE OF GEORGIA )
COUNTY OF RICHMOND )
Quit Claim Deed
WHEREAS, the City Council of Augusta and Richmond County, Georgia were
consolidated into a consolidated city-county government known as Augusta-Richmond County by
an act of the Georgia Legislature passed in 1995 with the consolidation of said governments being
effective January 1, 1996; and
WHEREAS, said consolidated government is now known as AUGUST A, GEORGIA and
is a political subdivision of the State of Georgia and is the Party of the Second Part; and
WHEREAS, the Finance Director of Augusta, Georgia is the successor-in-interest to the
position formerly known as the COMPTROLLER OF THE CITY COUNCIL OF AUGUSTA,
GEORGIA; and
WHEREAS, said Finance Director is the Custodian of the General Retirement Fund of the
City Coupcil of Augusta, created by a 1949 act ofthe Georgia Legislature; and
WHEREAS, the County Commissioners of Augusta-Richmond County are the Trustees of
the General Retirement Fund of the City Council of Augusta, created by a 1949 act of the Georgia
Legislature.
NOW, THEREFORE, THIS INDENTURE, is made this 29 day of March, 2005, by and
between BOB YOUNG, MAYOR OF THE CITY OF AUGUSTA; BETTY BEARD,
COMMISSIONER DISTRICT 1; MARION F. WILLIAMS, COMMISSIONER DISTRICT 2;
BARBARA SIMS, COMMISSIONER DISTRICT 3; RICHARD COLCLOUGH,
COMMISSIONER DISTRICT 4; BOBBY G. HANKERSON, COMMISSIONER DISTRICT 5;
^ lI..TT\V r<UTITIV r<r\l\. Kl\ KTC CTA1\,. mn -n.TC''T'nTI"''T' L. 'T'n.l\ Kl\ "'T nn.'TT nC' I"'n.l\ Kl\ KTC' ....Tn.... TnT>
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Book 00986:2128 Augusta - Richmond County
2005022123 04/22/2005 13:47:08.QO
ordinances passed under authority of "Home Rule" including Augusta, Georgia Ordinance No.
6656 adopted February 20,2002 and effective January l, 1997, and DAVID PERSAUD, IN HIS
OFFICIAL CAPACITY AS FINANCE DIRECTOR OF AUGUSTA-RICHMOND COUNTY,
GEORGIA (ALSO KNOWN AS AUGUST A, GEORGIA) AND CUSTODIAN OF THE
GENERAL RETIREMENT FUND OF THE CITY COUNCIL OF AUGUSTA, CREATED BY A
1949 ACT OF THE GEORGIA LEGISLATURE, as Party of the First Part, and AUGUSTA,
GEORGIA, a political subdivision of the State of Georgia, as Party of the Second Part.
WITNESSETH: That the said Party of the First Part, for and in consideration of the sum of
ONE MILLION SEVEN HUNDRED THOUSAND ($l,700,000.00) DOLLARS, and other good
and valuable consideration in hand paid, the receipt whereof is acknowledged, has bargained, sold,
and does by these presents bargain, sell, remise, release and forever QUIT -CLAIM to the said Party
of the Second Part, its successors and assigns, all the right, title, interest, claim, or demand which
the Party of the First Part has or may have in and to the following described property to wit:
See Exhibit A hereto attached and by reference made a part hereof.
TOGETHER WITH all the rights, members and appurtenances to the said described
Property in anywise appertaining or belonging.
TO HA VE AND TO HOLD the said described premises to the said Party of the Second
Part, so that neither the said Party of the First Part nor its successors and assigns, nor any other
person or persons claiming under it shall at any time, by any means or ways, have, claim or
demand any right or title to the aforesaid described Property or its appurtenances, or any rights
thereof.
IN WITNESS WHEREOF, the said Parties of the First Part have caused this instrument to
be executed by the undersigned as Trustees of the General Retirement Fund of the City Council of
Augusta:
~c,1J
e ity of Augusta
.. .' ~,
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Book 00986:2129 Augusta - Richmond County
2005022123 04/22/2005 13:47:08.00
Signed, sealed and delivere
I resence of:
ota~,~ate of
--~" E. SIt-'
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Barbara Sims, Commissioner
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Andy Cheek, ISSlOner
To5~~~ner
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Jimmy Smith, ommissioner
D~/b,.(/ ifill-lor
David Persaud, Finance/lector of Augusta,
Georgia, in his representative capacity as Custodian
of The General Retirement Fund of The City of
Augusta
Accepted th:-l7.~ay of February, 2005.
\T:t-/_ ~
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Book 00986:2130 Augusta - Richmond County
2005022123 04/22/2005 13:47:08.00
Exhibit A
COMMENCING at a nail in the Northeast corner of Reynolds Street and 6th Street, said nail
being the TRUE POINT OF THE BEGINNING, and go thence, North 160 40' 20" East along the
easterly right of way boundary of 6th Street; distance of 355.33 feet, more or less, to an iron pin;
thence, South 680 59' 00" East a distance of 826.90 feet to a point on the westerly right-of-way of
5th Street; thence South 16022' 40" West along said westerly right-of-way boundary a distance
of 313 .93 feet to a point on the northerly right-of-way of Reynolds Street; thence, North 710 51'
20" West along said northerly right-of-way' boundary a distance of 826.26 feet to the TRUE
POINT OF BEGINNING; containing 6.338 acres more or less, and being located substantially as
shown on plat prepared by Ayer, Barker, Graham & Associates, Inc., dated December 19, 1976,
and recorded in the Office of the Clerk of the Superior Court of Richmond County, Georgia on
Realty Reel 301, page 270.
TOGETHER with, in "as is, where is", condition and without warranty, express or implied, of
condition, merchantability or fitness for any purpose or otherwise, all of Grantor's right, title and
interest in and to the Freight House Building located upon the above-described property.
SUBJECT to all restrictions, covenants, conditions and easements as may appear of record or as
may be apparent from an examination of the premises.
LESS AND EXCEPTING therefrom all that piece or parcel of land situate, lying and being in
the City of Augusta, Richmond County, Georgia, containing 3,190 square feet being triangular in
shape, fronting eighty (80) feet on the East side of Sixth Street, and being more particularly
shown on a plat prepared by Charles T. Dillard dated May 1, 1995, said plat being recorded in
the office of the Clerk of the Superior Court of Richmond County, Georgia in Realty Reel 548,
page 53l, reference being made to said plat for a more particular description as to metes, bounds
and locations.
SAID property is the same property described in a deed dated December 8, 1988 from Southern
Railway - Carolina Division to City of Augusta recorded in the Office of the Clerk of Superior
Court of Richmond County, Georgia, on Realty Reel 301 pages 267-272 which said deed is
specifically incorporated herein by reference for a more particular description of the property
herein conveyed.
Grantor has conveyed this property by this instrument to the Grantee, Augusta, Georgia, for
payment of the appraised value of $1,700,000.00. Provided further, if this property is sold by
Augusta, Georgia within two (2) years of the date hereof for a price in excess of $1,700,000.00,
then any net proceeds of sale realized by Augusta, Georgia in excess of the $1,700,000.00
purchase price will be remitted to the Trustee of the Pension Fund. "Net proceeds" is defined to
be the amount realized by Augusta, Georgia after deduction from the gross proceeds from the
sale, any and all necessary expenses incurred by Augusta incident to said sale including but not
limited to real estate commissions, attorneys fees, engineering fees or other professional services
incurred in connection with said' sale. After said two (2) year period, this condition will no
longer be attached to this property unless it is re-imposed by a vote of the Augusta Commission,
in which case the conditions herein imposed can be extended for another two (2) years. The vote
must be taken by the Commission on or before March 1, 2007. This condition is included in this V
conveyance to memorialize the commitment of Augusta, Georgia to pass the entire net \.. L"., V
appreciation in value of this property to said Trustee for the benefit of the pensioners. p