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HomeMy WebLinkAboutWILLIAM S JACKSON TEE CENTER PROJECT HUD-1 SETTLEMENT STATEMENT HUD-1 e OMB Approval No 2502 -0265 * � A. Settlement Statement (HUD -1) '''. I .._ B. Type of Loan 8. File Number 7. Loan Number: 8. Mortgage Insurance Case Number: 1. Q FHA 2. Q RHS 3. Q Conv. Unins. 000034 -10012 4. Q VA 5. Q Conv. Ins. C. Note: This form is fumished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p.o.c)" were paid outside the dosing; they are shown here for informational purposes and are not included in the totals. D. Name & Address of Borrower. E. Name & Address of Seller. F. Name & Address of Lender Augusta, Georgia William S. Jackson 530 Greene Street 1331 Reynolds St Augusta, GA 30901 Augusta, GA 30901 G. Properly Location: H. Settlement Agent: I. Settlement Date: 902 James Brown Blvd James T. Plunkett 09/28/2010 Augusta, GA 30901 Phone Number: (706) 722 -4111 429 Walker Street - Upper Level Richmond County AUGUSTA, GA 30901 Place of Settlement: Rescission Date: 429 Walker Street Upper Level Augusta, GA 30901 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 119, 500.00 401. Contract sales price 119, 500.00 102. Personal property 402. Personal property 103. Settlement charges to borrower (line 1400) 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 1Q9. 409. 110. 410. 111. 411. 112. 412. 120. Gross Amount Due From Borrower 119, 500.00 420. Gross Amount Due To Seller 119, 500.00 200. Amounts Paid By Or In Behalf Of Borrower 500. Reductions In Amount Due To Seller 201. Deposit or eamest money 501. Excess deposit (see instructions) 202. Principal amount of new loan(s) 502. Settlement charges to seller (line 1400) 129.50 203. Existing loan(s) taken subject to 503. Existing loan(s) taken subject to 204. 504. Payoff of first mortgage loan 205. 505. Payoff of second mortgage loan 206. 506. 207. 507. 208. 508. 209. 509. Adjustments for hems unpaid by seller Adjustments for items unpaid by seller 210. City /town taxes to 510. City /town taxes to 211. County taxes 01/02/2010 to 09/28/2010 445.50 511. County taxes 01/02/2010 to 09/28/2010 445.50 212. Assessments to 512. Assessments to 213. 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. 519. 220. Total Paid By /For Seller 445.50 520. Total Reduction Amount Due Seller 575.00 300. Cash At Settlement From/To Borrower 600. Cash At Settlement To/From Seiler 301. Gross amount due from borrower (line 120) 119, 500.00 601. Gross amount due to seller (line 420) 119, 500.00 302. Less amount paid by/for borrower (line 220) ( 445.50 ) 602. Less reductions in amt. due seller (line 520) ( 575.00 ) 303. Cash 131 From Cl To Borrower 119, 054.50 603. Cash El To Cl From Seller 118, 925.00 The public Reporting Burden for this collection of information is estimated at 35 minutes per response for collecting, reviewing, and reporting the data. This agency may not collect this information, and you are not required to complete this form, unless, it displays a currently valid OMB control number. No Confidentiality is assured; this disclosure is mandatory. This is designed to provide the parties to a RESPA covered transaction with information during the settlement process. Previous editions are obsolete Page 1 of 3 HUD -1 L. Settlement Charges 700. Total Real Estate Broker Fees Paid From Paid From Division of Commission (line 700) as follows: Borrowers Sellers 701. $ to Funds at Funds at Settlement Settlement 702. $ to 703. Commission paid at Settlement 704. ( P.O.C. by 800. Items Payable In Connection With Loan 801. Our origination charge $ (from GFE #1) 802. Your credit or charge (points) for the specific interest rate chosen $ (from GFE #2) 803. Your adjusted origination charges (from GFE A) 0.00 804. Appraisal fee to ( P.O.C. by ( (from GFE #3) 805. Credit report to I P.O.C. by ( (from GFE #3) 806. Tax service to ( P.O.C. by ( (from GFE #3) 807. Flood certification ( P.O.C. by ) (from GFE #3) 808. 809. 810. 811. 812. 813. 814. 815. 816. 817. 818. 819. 820. 900. Items Required By Lender To Be Paid In Advance 901. Daily interest charges from to @$ /day (from GFE #10) 902. Mortgage Insurance Premium for months (from GFE #3) to 903. Homeowner's insurance for years (from GFE #11) to 904. years to 905. 1000. Reserves Deposited With Lender 1001. Initial deposit for your account (from GFE #9) 1002. Homeowner's insurance months @$ per month $ 1003. Mortgage insurance months ©$ per month $ 1004. Property taxes months ©$ per month $ 1005. months ©$ per month $ 1006. months ©$ per month $ 1007. Aggregate Adjustment -$ 0.00 1100. Title Charges 1101. Title services and lender's title insurance (from GFE #4) 1102. Settlement or closing fee 1103. Owner's title insurance (from GFE #5) 1104. Lender's title insurance 1105. Lender's title policy limit 1106. Owner's title policy limit 1107. Agents portion of the total title insurance premium 1108. Underwriter's portion of the total title insurance premium 1109. 1110. 1111. 1200. Government Recording and Transfer Charges 1201. Govemment recording charges (from GFE #7) 10. 1202. Deed $ ; Mortgage $ ; Releases $ 10.00 1203. Transfer taxes (from GFE #6) 119. 1204. City /Countv tax/stamps: Deed $ ; Mortgage $ 1205. State tax/stamps: Deed $ 119.50 ; Mortgage $ 1206. 1207. 1300. Additional Settlement Charges 1301. Required services that you can shop for (from GFE #6) 1302. $ 1303. $ 1304. 1305. 1306. 1400. Total Settlement Charges (enter on lines 103, Section J and 502, Section K) 129.50 Previous editions are obsolete Page 2 of 3 HUD -1 f Certification (continued from HUD -1) 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. I further certify that I have received a copy of the HUD -1 Settlement Statl ent. (O Seller or Borrower: !� Date: 10-- -1 - I �% Agent: k, : dq∎ irk Pate: bC i . 1, )..00 Augusta, Georgia ' lia 111 !t%''s'•n 530 Greene Street 1331 - - •Ids St Augusta, GA 30901 Augusta 30901 The HUD -1 Settlement 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 st- -nt. Date: Settlement Agent: C.— ° Date: (U " "lu ett WARNING: 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. ASSIGNMENT OF LEASE THIS ASSIGNMENT OF LEASE (hereinafter referred to as this "Assignment ") is made as of thel5th day of September, 2010, by and between William S. Jackson (hereinafter referred to as "Assignor ") and Augusta, Georgia (hereinafter referred to as "Assignee "). WITNESSETH WHEREAS, Assignor is the Landlord under the terms of that certain oral lease between Assignor and Cy Webb (hereinafter referred to as "Tenant ") which relates to certain premises located 902 James Brown Blvd, Augusta, Georgia, (hereinafter referred to as the "Lease "): and WHEREAS, in connection with the property swap between Assignor and Assignee, Assignor desires to assign all of his right, title and interest in and to the Lease to Assignee. NOW THEREFORE, for and in consideration of the sum of $1.00 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 Lease, to Assignee. Assignor hereby warrants to Assignee that (i) it is the owner of the Landlord's interest under the Lease, free from any and all claims and encumbrances of any nature, (ii) as of the date hereof, all rental payments are current and Tenant is not otherwise in default under any of its obligations under the Lease, (iii) Landlord has not defaulted under any of its obligations under the terms of the Lease, and (iv) that the lease is still in full force and effect and no notice to vacate the property has been given. 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 Lease, up to and including the date hereof. Assignee, by its acceptance hereof, hereby agrees that it shall perform all of Landlord's duties under the terms of the Lease 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 Lease from and after the date hereof. IN WITNESS WHEREOF, Assignor and Assignee have executed Assignment under seal as of the day and year first above written. A' I / 4 Q i i e l ) i William . - ack• n1 SIGNED, SEALD AND DELIVERED In the prese e of: 1,.. `P 0 P ' TR O T • tary public, State of Georgia v 9 NO TARY c ASSIGNEE: , AUGUSTA, GEORGIA g 8/A cam' BY: L,C# ,--- ITS: Mayor SIGNED, SEALD AND DELIVERV i the presence of: ...1 MOgq h r dr t _ 4' '_ r . s' i._ f `_e cs i ( 1 pV • ,Bb s ,► , ,,' O_ Ffi D«« , e ® i h,��uIA = O,f Notary Public, State of Georgia STATE OF GEORGIA ) RICHMOND COUNTY ) THIS AGREEMENT, made and entered into, this day of August, 2010 between W. S. JACKSON (hereinafter referred to as "SELLER "), and AUGUSTA, GEORGIA, a political subdivision of the State of Georgia, (hereinafter referred to as "BUYER "); WITNESSETH: 1. Seller has agreed to sell and Buyer to buy, on the terms and conditions hereinafter set forth, the real property described on Exhibit "A" hereto attached. 2. The purchase price of said property is as follows: Augusta shall exchange the property that it is to acquire from Marko Investment Co., Inc. f/k/a K & W Investment Co., Inc. located at the intersection of 13 and Reynolds Street, Augusta, Georgia for the property described on Exhibit A. No additional consideration shall be paid. 3. The Seller hereby acknowledges receipt of $1.00 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. 4. (a) Seller agrees to furnish a marketable title to said property and agrees to convey said property by limited 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 encumbrance (other than taxes for the current year which constitute a lien, but are not due and payable at the time of closing), outstanding interest or question of title not expressly consented 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 or proceeding or otherwise incur any expense to • 2 render the title to the 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. The purchase and sale of the subject property shall be closed on or before September 15, 2010, unless Augusta has not acquired the property from Marko Investment Co., Inc. or Seller has not acquired the interest of Felix Goldberg in the property described on Exhibit A, then in such event such transaction shall close within ten (10) days of the acquisition of both property interests contemplated in this paragraph. Possession of the property shall be delivered to the Buyer within ninety days of the date of closing. 6. Time is of the essence of this contract, 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 such parties at the time this sale is consummated. 7. Seller warrants that when the sale is consummated the improvements 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. 8. Seller is to pay all liens, encumbrances, water charges and the like on said property. Buyer is to pay for the examination of title, transfer tax, intangible tax and attorney fees, if any. Taxes, interest on loan, rents and insurance premiums (if insurance is transferred to Buyer) are to be prorated as of the date of closing. 9. Seller agrees that if this transaction is not consummated because of Seller's inability, failure or refusal to convey marketable title, Seller shall return the earnest money to the Buyer. Buyer agrees that if he fails or refuses to consummate this transaction for any reason, except lack of marketable title in the Seller, the Seller shall have the option of suing for specific performance or of terminating this contract. If the Seller shall elect to terminate this contract, the earnest money shall not be refunded but shall be retained by the Seller as liquidated damages. 10. The special stipulations appearing on Exhibit B hereof, shall, if in conflict with the printed matter contained herein, control. 11. This contract constitutes the sole and entire agreement between the parties and no modification of this contract shall be binding unless attached hereto and signed by all parties to this agreement. Representations, promises or inducements not included in this contract shall not be binding upon any party hereto. 12. All rights, powers, privileges and duties hereby granted or assumed shall inure to the A , benefit of and shall be binding upon the successors, assigns, heirs, administrators and executors of the parties hereto. IN WITNESS WHEREOF, the undersigned have hereunto set their hands and seals, this day of August, 2010. Augusta, Georgia 4 ‘ (L.S.) By: Its Mayor Buy r 1 it t._\ ico 11111 L"------- ... (L.S.) W. S. Jackso - Se er EXHIBIT A All that lot of land with improvements thereon, situate, lying and being in the City of Augusta, Richmond County, Georgia, on the Southwest corner of Campbell (9 Street and Reynolds Street, fronting 46.04 feet on Campbell (9 Street and running back of substantially even width on its Northern line 60.06 feet and on its Southern line 60.31 feet to a rear or Western boundary line of 46.08 feet, and being bounded: On the North by Reynolds Street; on the East by Campbell (9 Street; and on the South and West by lands now or formerly of Grogan and O'Dowd. This is the same property conveyed to H. A. Edwards by deed from Clause Investment Corporation recorded in the office of the Clerk of Superior Court of Richmond County, Georgia, in Realty Book 13 -W, pages 145 -146. Also all rights of H. A. Edwards in and to the easements of alleyways, toilets and right of cornices and eaves as shown in a certain deed recorded in said Clerk's Office in Realty Book 9- 0, page 35. And being the same property conveyed by H. A. Edwards to W. S. Jackson and Felix Goldberg by Warranty Deed dated November 10, 1969 and recorded in the Office of the Clerk of the Superior Court of Richmond County, Georgia in Deed Book 37 -D, page 53. 1 EXHIBIT `B" SPECIAL STIPULATIONS 1. Buyer, their inspectors or representatives, at Buyer's expense and at reasonable times during normal business hours shall have the right and responsibility to enter upon the Property for the purpose of making a diligent, prudent and competent inspection (including conducting the final walk through), by examining, testing and surveying the Property. 2. Seller shall have the right to remove all personal property, fixtures, equipment, and improvements located on the premises on or before the possession date and any items not removed shall be deemed abandoned and Buyer shall have the right to dispose of any such property at its sole expense. 3. Each party shall pay their respective attorney fees. 4. Seller shall make diligent effort to have the existing building moved prior to closing or, to have entered into a contract for the removal of same on or before September 15, 2010. 5. Seller acknowledges that the property he is to receive is subject to an existing lease and takes the property subject to said lease.