HomeMy WebLinkAbout55-96 RESOLUTIONPP'
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RESOLUTION NO. 55- 9 6
A RESOLUTION AUTHORIZING THE SALE OF LOT H AND
LOT I, LOCATED IN THE SOUTH INDUSTRIAL PARK, TO
MARK W. AND DEBRA D. SILVA, WITH A ONE YEAR
OPTION TO PURCHASE LOT G.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1. The City Council hereby approves the sale of Lot H consisting of 1.4
acres, more or less and Lot tconsisting of 1.5 acres, more or less, located in the South Industrial
Park, in the amount of $50,000, to Mark W. and Debra D. Silva, with a one year option to
purchase Lot G in the amount of $31,500. A copy of the real estate contract is attached hereto
marked Exhibit "Am and made a part hereof.
PASSED AND APPROVED this 16th day of April , 1996.
Al ItSyp
By: 7/12.40
Traci Paul, City Clerk
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APPROVED:
By:
fitykt,
Fred Hanna, Mayor
PCOVM3 Edition is Obsolete
OCMU005 Initiaes)
FIRST DATA SYSTEMS, INC
1-800-626,6427
A. Settlement Statement U.S. Department of Housing ON
and Urban Development
WASHINGTON COLTNTY ABSTRACT CO. ar
OMB No. 2502-0265
8. Type of Loan
1. 0 FHA 2. 0 FmHA 3. • Conv. Unins.
4. 0 VA 5. 0 Conv. Ins.
6 Fib Number
96-1824
7. Loan Number
8. Mortgage Ineurance Case Number
C. Note: This form is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are
shown. Items marked "(p.o.c.)" were paid outside the closing; they are shown here for informational purposes and are not
Included in the totals.
D. Name and Address of Borrower
Mark W. Silva
Debra D. Silva
91 E Neal
Farmington, Arkansas 72730
E. Name and Address of Seer
City of Fayetteville
F. Name and Address of Lander
CASH
G. Property Location
Lots 24 & 27 Fayetteville Ind.
H. Settlement Agent WASHINGTON COUNTY ABSTRACT
COMPANY
Fayetteville, Arkansas 72701
Washington County, Arkansas
lots 24 & 27 Fay Ind. Park
Place of Settlement
4004 N COLLEGE SUITE F
FAYETTEVILLE , ARKANSAS 7 2 7 6 4
I. Seamen! Date
5/16/96
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
50 , 0 0 0 . 0 0
401. Contract sales price
50, 000.00
102. Personal property
402. Personal
property
103. Settlement charges to borrower (line 1400)
188. 50
403.
104.
404
105.
405.
Adjustments
for Hems 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
5 0 , 1 8 8 . 5 0
420. Gross Amount Due To Seller
501 000 .00
200. Amounts Paid By Or
In Behalf
Of Borrower
500. Reductions
In Amount Due
To Seller
201. Deposit or earnest money
2, 000. 00
501.
Excess deposit (see instructlons)
202. Principal amount of new
loan(s)
502. Settlement charges
to seller (line
1400)
6,476.90
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 items unpaid by seller
Adjustments
for Hems unpaid by seller
210.
City/town taxes to
510. City/town taxes to
211.
County taxes to
511
County taxes to
212.
Assessments to
512.
Assessments to
213.
513.
214.
514.
215.
515.
216.
516.
217.
517.
218.
518.
219.
519.
220. Total Paid By/For Borrower
2, 00 000.
520. Total Reduction Amount Due Seller
6,476.90
300. Cash At Settlement
From/To
Borrower
600. Cash
At Settlement
To/From Seller
301. Gross amount due from
borrower
(line 120)
50,188.50
601.
Gross amount due to seller
(line 420)
50,000.00
302. Less amounts paid by/for borrower
(line 220)
( 2,000.00
602.
Less reductions in amt. due seller
(line 520)
( 6,476.90:
303. Cash CEIFrom 0 To Borrower
4 8 , 188.50
ma cash El To • From Seller
43,523.10
SUBSTITUTE
401
buyer's
furnished
penalty
and
(or,
real
or
the IRS
t.
FORM 1099 SELLER STATEMENT:
if line 401 is asterisked,
estate tax reportable
to the Internal Revenue Service.
other sanction will be imposed
determines that it has
L OA"
The information contained in Blocks E, G, 1-1 and I, lines
lines 403 arid 404), 406, 407 and 408-412 (applicable part of
to the IRS) is importanttax information and is being.
If you are required to file a return, a negligence
on you if this item is required to be reported
not been reported.
City of F ette 1
corporat a municipal
W Silva
9.-024
ni Fred Ha a Mayor
La..fi, tz
Debra D. Silva
_ . . RFSPA 1-1B 42O5.2: H1JD-1 REV 18/86)
PCOVM3 Edition is Obsolete
OCMU005 Initiaes)
FIRST DATA SYSTEMS, INC
1-800-626,6427
DCMU006
96-1824
L. Settlement
Charges Mr 1
700. TotalSales/Broker'sCommission
based on price
$ • 50 , 000 .00@l0
.0000 °los $5 , 000 .00
Paid From
Paid From
Division of Commission (line
700) as follows: '
Borrowers
Sellers
701.$ 5, 00 0 . 00 to Lindsey and Associates
Funds at
Funds at
702. $ to
Settlement
Settlement
703. Commission paid at Settlement
5 1 000 . 00
704.
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 Insurance Application Fee to
807. Assumption Fee to
808
809.
810.
811.
900. Items Required
By
Lender To Be Paid
In Advance
901. Interest from to @ $ /day
902. Mortgage Insurance Premium for months to
903.
Hazard
Insurance Premium
for years to
904. Flood
Insurance Premium for
years to
905.
1000. Reserves Deposited
With
Lender
1001. Hazard insurance
months @
$ per month
1002. Mortgage insurance
months @
$ per month
1003. City property taxes
months @ $ per month
1004. County property taxes
months @ $ per month
1005 Annual Assessments
months @ $ per month
1006. Flood
Insurance
months @ $ per month
1007.
months @ $ per month
1008.
months @ $ per month
1009.
months @
$ per month
1010.
months @ $ per month
1100. Title Charges
1101. Settlement or closing
tee to
WASH. CO. ABSTRACT
1 0 0 . 0 0
1 0 0 . 0 0
1102. Abstract or title
search to
1103.
Title examination to
1104.
Title insurance binder to
1105. Document preparation to
1106. Notary fees to
1107. Attorneys fees to
(includes above item numbers:
/
1108. Title insuranee
W Chicago
Title Ins Co
300.00
(includes
above item numbers:
)
1109. Lender's
coverage $
1110. Owner's coverage
$ 300.00 for $50,000.00
rim
1112.
1113.
1200. Government Recording and Transfer Charges
1201. Recording
fees: Deed
$ 6.00 ; Mortgage $ ; Releases $
6.00
1202. City/county
tax/stamps
Deed $ ; Mortgage
$
1203. State tax/stamps. Deed
$
165.00 ;
Mortgage
$
82.50
82.50
1204.
1205.
13110. Additional
Settlement Charges
1301 Survey
to McClelland
Consulting
Engineers, Inc
994.40
1302 Pest Inspection to
1303
1304.
1305
1900. Total Settlement Charges (enter on lines 103, Section 'land 502, Section K)
188.50
6,476.90
SELLER INSTRUCTIONS: If this real estate was your main home, file Form 2119, Sale of Your Home,
for any gain, with your income tax return; for other transactions, complete the applicable parts
of Form 4797, Form 6252 and/or Schedule D (Form 1040). If you sold a Federally -subsidized
home, financed after 1990 and not owned for more than 9 years, you may have to recapture part
af the subsi%. See Form 8828 and Pub. 523.
MONTHLY PAYMENT
LA2.1 litia..0 City 9/4aye t-ville,
14.
a
muni •-.ration
?la1 va 4
i
1.4 By: sat ee-_41.1
TAXES . 0 0
0 0
kit. 41 I 6 hen Free '4 anna 1 ayor PMI/MIP .
INSURANCE
q2.43va HAZARD/ FLOOD
DetiCa
TOTAL ESCROW :88
P&I .00
MONTHLY PAYMENT .00
FIRST PAYMENT DUE
. so in 1 n Arile n OM/ /0/12.C1
DCMU006
96-1824
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. I further certify that I have received a copy of the HUD -1
Settlement Statement.
itlY)Adc
City of ayetteville, a
munic ration
By:
Mark W. Silva Fred anna, Mayor
Oilpto
Debra D. Silva
To the best of my knowledge, the HUD -1 Settlement Statement which I
have prepared is a true and accurate account of the funds which were
received and have been or will be disbursed by the undersigned as part of
the settlement of this transaction.
WASHINGTON COUNTY ABSTRACT COMPANY
May 16. 1996
ettlement Agent Date
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
Sections 1001 and 1010.
)4
Page 1 of
DCMUO5C EIRST DATA SYSTEMS, LNC. 1-800-626-542
STATE OF ARKANSAS
COUNTY OF
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OWNER'S AFFIDAVIT
}
SS.
1
The undersigned, referred to herein as "Owner", whether one or more being first duly sworn states on oath that
the Owner is the owner of the following described lands situated in Washington County, Arkansas, to -wit:
LOTS 24 & 27, FINAL REPLAT OF FAYETTEVILLE INDUSTRIAL PARK, TO THE CITY OF
FAYETTEVILLE AS PER PLAT FILED IN SUBDIVISION PLAT BOOK 14-26 OF THE OFFICE OF
THE CIRCUIT CLERK, WASHINGTON COUNTY, ARKANSAS. LESS AND EXCEPT: A PART OF
SAID LOT 24, BEING MORE PARTICULARLY DESCRIBED AS BEGINNING AT A POINT SOUTH
1041439" EAST - 80.65 FEET FROM THE NE CORNER OF SAID LOT 24, THENCE WEST -
16.08 FEET; THENCE SOUTH 3°2200" EAST - 17.03 FEET; THENCE EAST - 15.58
FEET; THENCE NORTH 1°41'39" WEST - 17.00 FEET TO THE POINT OF BEGINNING,
CONTAINING 269 SQUARE FEET, MORE OR LESS.
Owner further states that the following facts are true:
1. There is no adverse occupant of the property described above
2. Owner and those under whom Owner claims title have been in peaceable possession of said lands for more
than seven (7) years last past.
3. There are no unrecorded options to purchase, sales contracts or lease agreements outstanding which affect the
properly described above.
4. There have been no improvements made on the property described above during the past 130 days for which
a Mechanicsand Materialmens' Lien may be filed.
5. No appliances have been installed in the property described above on deferred payments which are unpaid for.
6. There are no delinquent assessments due to the Municipal Sanitary System on the property described above.
7. The property described above is not traversed by any road, ways or easements except those shown of record.
8. There are no delinquent assessments due on the Resident's Association on the property described above.
9. That no money whatsoever is owed on subject properly to any person, firm or corporation other than the following:
10. There are no outstanding judgments against seller as a result of legal action to include but not limited to
Tax Liens, Divorce, Bankruptcy, or Foreclosure or as a result of Child Support.
W ITN ESS the hand(s) and seal(s) or tile undersigned on the 1 6raday of May
City o
By:
.1996
•
71. He, a municipal corporation
red Hanna, Mayor
SUBSCRIBED and SWORN TO before me, a Notary Public, on the day of May , 19 96 .
My Co
nis
(1 CadalEitisl
AtROTTE WILLIAMS
Notary Public - Arkansas
BENTON COUNTY
My Commission Expires 08-30-2004
Mammon County Aboral Company
P.O. fax 1564
Payola:AM, Arkansas 72702
4/0
NOTARY PUBLIC
Return to:
Washinglon County Ali:Arad Company
P O. Bos 348
Springdale, Arkansas 72764
WARRANTY DEED
KNOW ALL MEN BY THESE PRESENTS:
That the City of Fayetteville, Arkansas, a Municipal
Corporation, Grantor, for and in consideration of the sum of One
Dollar ($1.00) to it in hand paid by Mark W. Silva and Debra D.
Silva, husband and wife, Grantees, does hereby grant, bargain and
sell unto the said Grantees, their heirs and assigns, the following
described land, situate in Washington County, State of Arkansas,
to -wit:
LOTS 24 & 27, FINAL REPLAT OF FAYETTEVILLE INDUSTRIAL
PARK, TO THE CITY OF FAYETTEVILLE AS PER PLAT FILED IN
SUBDIVISION PLAT BOOK 14-26 OF THE OFFICE OF THE CIRCUIT
CLERK, WASHINGTON COUNTY, ARKANSAS. LESS AND EXCEPT: A
PART OF SAID LOT 24, BEING MORE PARTICULARLY DESCRIBED AS
BEGINNING AT A POINT SOUTH 1°41139" EAST - 80.65 FEET
FROM THE NE CORNER OF SAID LOT 24, THENCE WEST - 16.08
FEET; THENCE SOUTH 3°22'00" EAST - 17.03 FEET; THENCE
EAST - 15.58 FEET; THENCE NORTH 1°41139" WEST - 17.00
FEET TO THE POINT OF BEGINNING, CONTAINING 269 SQUARE
FEET, MORE OR LESS.
TO HAVE AND TO HOLD said land to said Grantee, their heirs and
assigns, forever; and, the City of Fayetteville, Arkansas, does
hereby covenant that it is lawfully seized of said land and
premises, the same is unincumbered, and it will forever warrant and
defend the title to the said lands against all legal claims
whatsoever.
WITNESS its hands and seal on this day of 140/h
1996.
CITY OF FAYETTEVILLE, ARKANSAS
A Municipa Corporation
By:
WITNESS:
By:
Traci Paul, City Clerk
F ed B. Hanna, Mayor
ACKNOWLEDGEMENT
STATE OF ARKANSAS )
)ss:
COUNTY OF aWillgeN)
BE IT REMEMBERED, that on this day came before the
undersigned, a Notary Public within and for the County aforesaid,
duly commissioned and acting, the City of Fayetteville, Arkansas,
by Fred Hanna, Mayor, and Traci Paul, City Clerk, to me well known
to be the Grantor in the foregoing Deed, and stated that they had
executed the same for the consideration and purposes therein
mentioned and set forth.
WITNESS my hand and seal as such Notary Public this el day
of Alfa , 1996.
§3al s
My Commission ExpiCANNORSI.MLLIAM
H61/01/ Notary Public - Arkansas
?Ay BENTON coutinf
mission Expires
114 It1/2" a)
tary Public
AFFIDAVIT
•
The undersigned hereby state they are either the Buyers, Seller an or
Borrowe who are purchasing, selling and/or refinancing certa r erty which
is located t Lots 24 & 27 Fayetteville Ind., Fayetteville r a as 72701.
The under igned further state they are aware that W
ABSTRACT & TITLE
PANY INC., as Closing Agent has
for the current yea+r a well as establish an Escr
Insurance Payment, wh
re r
which was available thr
•
ugh t
office as of the date of c
ired by lender, b
County Tax
osing.
the County Tax Collector and/
r Coun
date of closing, change the info
were based, that same would b /beyon
further that the undersign 8/Buyers, Sel
0:
•
•
•
TO
SHI
TON COUNTY
ated the property taxes
count for Tax and
upon the Tax information
lector and/or County Tax Assessors
ersigned are further aware that should
ax Assessor, for any reason after the
ation by
hich the prorations and/or escrows
the cont
WASHINGTON COUNTY ABST T & TITLE COMPANY
ol of the Closing Agent, and,
rs and/
C., as
from any loss and/or liability sustained. The u
Borrowers agree to hold
losing Agent, harmless
ersign
handle any descre ancies with respect to prorations
d all further agree to
ong t
deficits and overages, with respect to the Escrows, d
and np to involve Closing Agent.
DATED this 5/16/96.
emselves, and any
ectl
BUYER - Mark W. Silva
BUYER ebra D. Silva
SE ER -C'tty of Fayetteville
SELLER -
WITNESS:
with the lender
Charlotte Williams
CLOSING AGENT
6116(qco
td nDI Kaca -1-116 (29-aLnnen1--