HomeMy WebLinkAboutSMITH CEMETERY PROPERTY G EDDIE FAIRCLOTH AND DARYLYNN G FAIRCLOTH ASSIGNMENT OF LEASE CLOSING STATEMENT SALES CONTRACT
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Book 01166:2400 Augusta - Richmond County
2008008960 03/05/2008 15:45:03.00
$0.00 WARRANTY DEED
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2008008960'Augusta - Richmond County
Return to:
County Attorney's Office
701 Greene St., Suite 104
Augusta, Georgia 30901
WARRANTY DEED
THIS INDENTURE, Made this 3rd day of April, 2007, between G. EDDIE FAIRCLOTH
and DARL YNN G. FAIRCLOTH, of Richmond County, Georgia, as parties 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 parties of the First Part, for and in consideration of the sum
of Ten ($10.00) Dollars and other good and valuable consideration in hand paid, at and before the
sealing and delivery of these presents, the receipt of which is hereby acknowledged, has granted,
bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey unto the
said party ofthe Second Part, its successors and assigns, the following described property, to wit:
See Exhibit A hereto attached and by reference made a part hereof.
TO HAVE AND TO HOLD the said bargained premises, together with all and singular the
rights, members and appurtenances thereof, to the same being, belonging or in anywise appertaining
to the only proper use, benefit and behoof of the said party of the Second Part, its successors and
assigns, forever, IN FEE SIMPLE.
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Book 01166:2401 Augusta - Richmond County
2008008960 03/05/2008 15':45:03.00
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AND the said parties of the First Part, for themselves, their heirs and assigns will warrant
and forever defend the right and title to the above described property, unto the said party of the
Second Part, its successors and assigns, against the lawful claims of all persons whomsoever.
IN WITNESS WHEREOF, the said parties of the First Part have hereunto set their hands
and seals, all on the day and year first above written.
d?-J
G. Eddie Faircloth
b4~~
arl G. FaIrcloth
SIGNED, SEALED AND DELIVERED
in the presence of:
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Accepted, this 3rd day of April, 2007.
AUGU_~Th ~EORGIA/
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Book 01166:2402 Augusta - Richmond County
2008008960 03/05/2008,15:45: 03. 00
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Exhibit A
All that lot, tract or parcel of land ("Property"), located in the State of Georgia, Richmond
County, and in the 1660th District and consisting of6.12 acres 1065 feet north of Tobacco Road,
as shown on a certain plat by Besson & Pope Consulting Engineers, dated September 26, 1973,
and recorded in the Office of the Clerk of the Superior Court of Richmond County, Georgia, on
Realty Reel 31, Pages 90-91.
This is the same property as that transferred to G. Eddie Faircloth and Darlynn G. Faircloth, from
Essie Mitchum Green, by Warranty Deed dated May 9, 1991, and recorded in said clerk's office
on Realty Reel 359, Pages 83-84.
This conveyance is subject to the cemetery right on the existing one-half acre cemetery, shown
on said plat, and subject to whatever easements there are of record on said plat.
Map and Parcel Nos: 158-0-003-01-0
158-0-003-02-0
158-0-003-03-0
158-0-003-04-0
158-0-003-05-0
158-0-003-06-0
158-0-003-07-0
158-0-003-08-0
Filed in this office:
Augusta - Richmond County
03/05/2008 15:45:03.00
Elaine C. Johnson
Clerk of Superior Court
ASSIGNMENT OF LEASE
THIS ASSIGNMENT OF LEASE (hereinafter referred to as "Assignment") is
made as of the 2nd day of April, 2007 by and between G. Eddie Faircloth and Darlynn G.
Faircloth (hereinafter referred to as "Assignor") and Augusta, Georgia, a political
subdivision of the State of Georgia (hereinafter referred to as "Assignee").
WITNESSETH
Whereas, Assignor is the Landlord (hereinafter referred to as "Landlord") under
the terms of those certain Leases identified on Exhibit "A" (hereinafter referred to as the
"Leases"); and
Whereas, Assignor desires to assign all of its right, title and interest in and to the
Leases to Assignee.
NOW THEREFORE, for and in consideration of the sum ofTen Dollars ($10.00)
and other good and valuable considerations, the receipt and sufficiency of which are
hereby acknowledged, Assignor hereby sells, assigns, transfers and conveys all of its
right, title and interest in and to the Leases, and the income produced thereby, to
Assignee.
Assignor hereby warrants to Assignee that (i) it is in the sole possession of the
premises, free from any and all claims and encumbrances of any nature, (ii) as of the date
thereof, all rental payments are current and Tenant is not otherwise in default under any
of its obligations under the Leases, (iii) Landlord has not defaulted under any of its
obligations under the terms of the Leases, and (iv) Exhibit "A" is a true, complete and
accurate list of all Leases and there are no modifications or amendments of said Leases
which are not set forth on Exhibit A or herein. Assignor hereby indemnifies Assignee
from any claim, loss, cost or expense (including attorneys' fees) which Assignee may
suffer as the result of a breach by Assignor of its duties under the Leases, up to and
including the date hereof.
Assignee, by its acceptance hereof, hereby agrees that it shall perform all of the
obligations as Landlord under the terms of the Leases from and after the date hereof.
Assignee hereby indemnifies Assignor from any loss, cost or expense (including
attorneys' fees) which Assignor may suffer as the result of Assignee breaching any of its
duties under the Leases from and after the date hereof.
IN WITNESS WHEREOF, Assignor and Assignee have executed this
Assignment under seal as of the day and year first above written.
ASSIGNOR:
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G. Eddie Faircloth
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Darlynn G. Faircl~th " '"
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SIGNED, SEALED AND DELIVERED
in the presence of:
ASSIGNEE:
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Attest:
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SIGNED, SEALED AND DELIVERED
in the presence of:
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Exhibit "A"
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Anita
Jackson and S. M. Chris for 1828 Smith Cemetary Road, Augusta, Georgia.
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Angie
Walters and Gary Walters for 1830 Smith Cemetary Road, Augusta, Georgia.
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Kendria
Robinson and John Mobley for 1829 Smith Cemetary Road, Augusta, Georgia.
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Jacob
Brantley and Brenda Brantley for 1834 Smith Cemetary Road, Augusta, Georgia.
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Crystal
Wright for 1835 Smith Cemetary Road, Augusta, Georgia.
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Robert
~~ .\C..Lfor 1833 Smith Cemetary Road, Augusta, Georgia.
Oral lease between G. Eddie Faircloth and Darlynn G. Faircloth as Landlord and Evelyn
Baucom and Robbie Baucom for 1831 Smith Cemetary Road, Augusta, Georgia.
CLOSING STATEMENT
April 3, 2007
Of real property and mobile homes located at 1730, 1732, 1733, 1734, 1735 and 1737
Smith Cemetary Road (aJk/a Smith Cemetery Road) and now known as 1828, 1830, 1829, 1834,
1835, 1831 and 1833 Smith Cemetary Road (aJk/a Smith Cemetery Road), Augusta, Richmond
County, Georgia, and described on Exhibit A. being purchased by AUGUSTA, GEORGIA from
G. EDDIE FAIRCLOTH and DARL YNN G. FAIRCLOTH.
PURCHASER'S SETTLEMENT STATEMENT
SALES PRICE:
$250,000.00
LESS:
Earnest Money:
($ 0.00)
Total:
(
0.00)
CASH DUE FROM PURCHASER:
$250.000.00
SELLER'S SETTLEMENT STATEMENT
SALES PRICE:
$250,000.00
LESS:
Earnest Money applied
to Purchase Price:
($
0.00)
Real Estate Commission to
Gwen Fulcher Young & Associates: ($17,500.00)
Prorated Real Property Taxes:
158-0-003-01-0: ($ 14.35)
158-0-003-02-0: ($ 18.72)
158-0-003-03-0: ($ 16.23)
158-0-003-04-0: ($ 14.98)
158-0-003-05-0: ($ 14.35)
158-0-003-06-0: ($ 15.29)
158-0-003-07-0: ($116.75)
158-0-003-08-0: ($ 0.31)
Total Proration: ($ 210.98)
Prorated rents for week ending
April 7, 2007: ($ 529.29)
Page Two
Closing Statement
Faircloth to Augusta, Georgia
Apri13,2007
1031 Qualified Intermediary Fee
to James B. Trotter:
($ 500.00)
Total Reduction:
($18,740.27)
CASH DUE TO SELLER:
$231.259.73
Notes:
1. Taxes for the year 2007 having been prorated, Purchaser to deliver Sellers'
portion of 2007 taxes when bills are issued.
2. Sellers have elected to not prorate taxes for rents on 1732 and 1735 Smith
Cemetary Road.
3. Taxes and fees on mobile homes not to be prorated.
4. Sellers to collect rents on behalf of Purchaser for the week ending April 14, 2007.
5. Seller and Purchaser hereby acknowledge that each has read and approved the
foregoing Closing Statement and agree that it accurately reflects the substance of
the financial aspects of the transaction contemplated by the parties and the parties
hereby approve and direct the Closing Attorney to disburse the proceeds and
expense of the sale and purchase in accordance with this Closing Statement. No
responsibility is assumed by the Closing Attorney for the accuracy of the figures
obtained from others. Seller and their agents, in receiving the funds disbursed
herein, release the Purchaser and the Closing Attorney from any claims against
the funds disbursed herein.
6. All existing leases are to be assigned herewith.
7. Net proceeds to be delivered to James "B. Trotter as qualified intermediary in
connection with Sellers' 1031 tax free exchange.
8. Purchaser to pay its closing costs out side of closing.
A~P
G. Eddie Faircloth
d~ ,( ~dctA
D lynn . Faircloth
[signatures continued on following page]
Page Three
Closing Statement
Faircloth to Augusta, Georgia
April 3, 2007
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SALES CONTRACT
THIS AGREEMENT made and entered into the 9' day of JJt.d../I~.2007, by and between G.
Eddie Faircloth and Darlyn G. Faircloth, herein designated as "Seller," and Augusta,
Georgia, a political subdivision of the State of Georgia, herein designated as "Buyer;"
WITNESSETH:
(1) For value received, Seller has agreed to sell and Buyer has agreed to buy, on the terms
and conditions hereinafter set forth, the real property described on Exhibit A and the personal
property described on Exhibit B, hereto attached (the Property). Seller hereby acknowledges
receipt of $1 0.00 as earnest money, which is to be deposited with Seller; which earnest money is
to be applied as part payment of the purchase price of the property at the time the sale is
consummated.
(2) PURCHASE PRICE: The purchase price of the property shall be Two Hundred and Fifty
ThousandDollars ($250,000.00), payable in cash at Closing. The Seller shall receive no other
compensation from Buyer for all of Seller's right, title, and interest in the Property.
(3) CLOSING DATE: The purchase and sale of the subject property shall be closed on or
before Apri115, 2007. Possession of the property shall be delivered to the Buyer on or before the
time of closing.
(4) TITLE:
(a) Seller agrees to furnish a marketable title to said property and agrees to convey said
property by general warranty deed to Buyer at the time the sale is consummated, subject to:
1. Covenants and restrictions of record not violated by existing improvements or the
use of the property.
2. Zoning ordinances not violated by the existing improvements or the use of the
property.
3. Encumbrances and leases specified in this contract.
(b) Buyer shall furnish to Seller a written statement of objections affecting the
marketability of said title at least fifteen (15) days prior to the date set for closing. If the
Seller shall be unable to convey title in accordance with the provisions of this contract, as a
result of the propertY being affected by anY:.llcumbrance (other than taxes for the current
year which constitute a lien, but are not due fu.:d payable at the time of closing), outstanding
interest or question of title not expressly const..iJ ted to herein by the Buyer which render the
Seller's title to the premises unmarketable, and which may according to reasonable
expectations, be removed within thirty (30) days, the Seller shall have the privilege to
remove or satisfy the same and shall for this purpose, be entitled to an adjournment of the
closing of title for a period not exceeding fifteen (15) days. The Seller shall not be required
to bring any action ot proceeding or otherwise incur any expense to render the title to the
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premises marketable. The Buyer may, nevertheless accept such title as Seller may be able to
convey without reduction of the purchase price or any credit against same and without
liability on the part of the Seller.
(5) INSPECTION OF THE PROPERTY: Seller does agree that Buyer, at its expense, shall
have the right to conduct such investigations, inspections, and inventories of the Property as it
deems necessary after the date of the making of this Contract.
(6) APPLICATION OF PURCHASE PRICE: Prior to disbursing payment to the Seller,
Buyer may use a portion of the Purchase Price to satisfy the Seller's obligations under this
document to pay taxes, assessments, liens, acquisition of other parties' outstanding interests in
the Property and other costs incidental to the conveyance by Seller of marketable title to Buyer.
(7) PAYMENTS: Seller shall pay all liens, encumbrances, water charges, transfer taxes and
the like on said property. Buyer is to pay for the examination of title, intangible tax, and
preparation of all instruments necessary to close this sale. Taxes shall be prorated as of the date
of Closing.
(8) OCCUPANTS: Seller shall cooperate with Buyer with the noticing of all tenants of the
sale and the termination of the oralleases.
(9) RENTAL PAYMENTS: Attached as Exhibit C is a rent roll for all of the units being
sold. Seller represents that all tenants will be current with rent payments through the month of
closing. Rentals shall be prorated as of the date of closing.
(10) SECURITY DEPOSITS/FEES: Attached as Exhibit C is a listing of call security
deposits/fees being held by Seller. Seller agrees to turn over all security deposits/fees to Buyer,
or Buyer's agent, at time of Closing.
(11) KEYS AND OTHER BUSINESS EQUIPMENT: Seller agrees to turn over all keys and
other business equipment to Buyer, or Buyer's agent, at time of Closing.
(12) TIME IS OF THE ESSENCE: Time is of the essence in this agreement and Seller and
Buyer agree that such papers as may be legally necessary to carry out the terms of this contract
shall be executed and delivered by the parties at the time this sale is consummated.
(13) LEASES: Seller represents and warrants to Buyer that there are no written leases, or
government funded tenancies for any portion of the Property. The foregoing representation and
warranty shall survive Closing Date. Seller shall hold harmless and indemnify Buyer from and
against any claims that may arise or be based upon any alleged leasehold interest, or government
funded tenancy or occupancy or use for any portion of the Property. Seller shall certify to the
accuracy of the information contained in Exhibits B and C at the time of closing.
(14) APPROVAL OF COURT: If the Property is an asset of any estate, trust or guardianship,
this document shall be subject to Court approval prior to payment of Purchase Price, unless
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declared unnecessary by Augusta. If Court approval is necessary, the appropriate fiduciary shall
proceed promptly and diligently to bring the matter to hearing for issuance of a deed.
(15) CONDITION OF PROPERTY. Seller warrants that when the sale is consummated the
improvements (including all mobile homes) on the property will be in the same condition as they
are on the date of this contract, natural wear and tear excepted, and Seller specifically assumes the
risk of loss or damage to said property until the consummation of the sale. Should the premises be
destroyed or substantially damaged before this contract is consummated, then, at the election of the
Buyer: (a) The contract may be canceled; (b) Buyer may consummate the contract and receive such
insurance as is paid on the claim of loss; if there is no insurance the reasonable cost of repairing said
improvements shall be subtracted from the purchase price provided for in paragraph 2 hereof. The
election is to be exercised by Buyer within ten (10) days after the amount of the Seller's damage is
determined. Seller specifically warrants that each mobile home being transferred is in habitable
condition.
(16) FAILURE TO CLOSE. Buyer and Seller agree that if this transaction is not
consummated because of Seller's inability to convey marketable title, Seller shall return the earnest
money to the Buyer. Seller agrees that if it fails or refuses to consummate this transaction for any
reason, except lack of marketable title in the Seller, then Buyer shall have the option of suing for
specific performance or of terminating this contract and the earnest money shall be refunded to
Buyer.
(17) CONTRACT BINDING ON SUCCESSORS IN INTEREST: This document shall apply
to and bind the heirs, executors, administrators, partners, assigns, and successors in interest of
the respective parties.
(18) SOLE AGREEMENT: This contract constitutes the sole and entire agreement between
the parties and no modification to this contract shall be binding unless such modification is in
writing and signed by all parties hereto. Any representation, promises, or inducements not
included in this contract shall not be binding upon any party hereto. All rights, powers,
privileges and duties, granted or assumed, shall inure to the benefit of and shall be binding upon
any and all successors, assigns and personal representatives of the parties hereto.
(19) BROKERS: Seller agrees to pay his broker/agents fee/commission in full. Buyerwill
not be responsible for any broker/agent fees/commissions.
(20) APPROVAL: This Contract is subject to approval and acceptance of Augusta, Georgia,
and shall become binding and enforceable against Buyer only after approval and acceptance by
Augusta, Georgia.
(21) SEVERABILITY: Any part or provision of this Contract held invalid will be severed
from the Contract, without affecting the validity of any other provisions or the entire Contract. .
(22) SPECIAL STIPULATIONS. The special stipulations appearing on Exhibit D hereof, shall,
if in conflict with the matter contained hereinabove, control.
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IN WITNESS WHEREOF, this the Cf-l1Lday of M.C1.('~".
hereto agree to the terms contained herein.
2007, the parties
SELLER:
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G. Eddie Faircloth
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Br~ B.~~~L~
Notary Public Richmond'County, GA (
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Exhibit A
REAL PROPERTY
All that lot, tract or parcel of land ("Property"), located in the State of Georgia. Richmond County, and in
the l660th District and consisting of 6.12 acres 1065 feet north of Tobacco Road, as shown on a certain
plat by Besson & Pope Consulting Engineers, dated September 26, 1973, and recorded in the Office of
the Clerk of the Superior Court of Richmond County, Georgia, on Realty Reel 31, Pages 90-91.
This is the same property as that transferred to G. Eddie Faircloth and Darlyn G. Faircloth, from Essie
Mitchum Green, by Warrant Deed dated May 9, 1991, and recorded in said clerk's office on Realty Reel
359, Pages 83-84.
This conveyance is subject to the cemetery right on the existing one-half acre cemetery, shown on said
plat, and subject to whatever easements there are of record on said plat.
Said tract, or parcel, includes the following addresses:
CURRENT ADDRESS FORMER ADDRESS
1828 Smith Cemetary Road 1730 Smith Cemetary Road
1830 Smith Cemetary Road 1732 Smith Cemetay Road
1829 Smith Cemetary Road 1733 Smith Cemetary Road
1834 Smith Cemetary Road 1734 Smith Cemetary Road
1835 Smith Cemetary Road 1736 Smith Cemetary Road
1831 Smith Cemetary Road 1735 Smith Cemetary Road
183~ Smith Cemetary Road 1737 Smith Ce)lletary Road
Please note that Cemetery is misspelled on purpose, as that is the way it was spelled in the Road Book
of Augusta-Richmond County, Georgia.
Said tract, or parcel includes the following Parcel Identification Numbers:
158-0-003-01-0 158-0-003-05-0
158-0-003-02-0 158-0-003-06-0
158-0-003-03-0 158-0-003-07-0
158-0-003-04-0 158-0-003-08-0
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TERRI L. TURNER, AIJI!~
ASSISTANT ZONING & DEVELOPMENT ADMINISTR.'\TOR\
AUGUSTA-RICHMOND COUNTY PLANNING COMMISSlbN
525 TELFAIR STREET
AUGUSTA, GEORGIA 30901
(706) 821-1796
Fax (706) 821-1806
E-mail: tturner@augustaga.gov
Exhibit D
Special Stipulations
1. Seller desires to reserve the right, and Buyer is willing to permit such reservation, to
effectuate the purchase and sale of the Property by means of an exchange of "like-kind"
property that will qualify as such under Section 1031 of the Internal Revenue Code of 1986
and Treasury Regulations pertaining thereto, provided both Buyer incurs no additional
expense or liability as a result of accommodating Seller's exchange, and Buyer agrees to
cooperate with Seller by executing such documents as reasonably necessary to effect such
exchange.
~<C';:-
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EXHIBIT E
Tenant Security Deposits in the amount of $200.00 per unit shall be
transferred to Buyer at closing.
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