HomeMy WebLinkAbout160-99 RESOLUTION•
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RESOLUTION NO 160-99
A RESOLUTION APPROVING A REAL ESTATE CONTRACT
FOR SALE OF LOT 1, 2.5 ACRES LOCATED IN THE
ARKANSAS RESEARCH AND TECHNOLOGY PARK, TO
CACHE INVESTMENTS AND/OR ASSIGNS (INTERFACE
COMPUTER CENTER, L.L.C.) AND GRANTING FIRST RIGHT
OF REFUSAL ON LOT 2 OF ARKANSAS RESEARCH AND
TECHNOLOGY PARK.
•
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKJLNSAS•
Rection L That the City Council hereby approves a real estate contract for sale of Lot
1, 2.5 acres located in the Arkansas Research and Technology Park, to Cache Investments and/or
assigns (Interface Computer Center, L.L.C..) and granting first right of refusal on Lot 2 of Arkansas
Research and Technology Park. A copy of the contract is attached hereto marked Exhibit "A" and
made a part hereof.
PASSED AND APPROVED this Z day of December , 1999.
F AYE&
• ,�. F` APPROVED:
a,44
Heather Woodruff, City Clerk
By.
itny
Fred Hanna, Mayor
JUST -US
PRINTERS, INC.
11/2-1-199
v1a.tta
- , )
ii
Jan -t5 -Ob 03:OOP NICKLE-HILL GROUP, INC.
501 571 1111
ED /II coAJ
9
W� 77 �L
��� r
General Addendum v
"
IllI
NICKLE-HILL GROUP INC. TO Arkansas
Page 1 of 2 a REALTOR® trim REALTORSY
Association
Form Serial Number: 32ADM-13D1Z1-00009
Regarding the Real Estate Contract (Form Serial Number 32ADM-10WQJJ-ODD01
) dated (month)
November
(day) 22 (year) 1999
between the Buyer Cache
Investments and/or Assigns
and the Seller City of
Fayetteville
covering the real property known as
Lot 1
Research
& technology
Park. Fayetteville,
AR.
(the' Property'), the Undersigned Buyer and Seller agree that:
Seller
agrees to extend contingency period on contingency ISA
an additional
Fifteen
(15)
days.
•
(Continued on Page 2 of 2)
Emu #WnW08 Rev. 991228
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Jan=05-Ob 03:OOP NICKLE-HILL GROUP, INC.
501 571 1111
P.03
•
General Addendum
Pege 2 of 2 NICKLEMILL
dgiti
INC.
Copt
^ 2000
ArLRs
'a.°P".e.nNOO�`i.� REALTTOORS®
Association
REALTOR®
GROUP
This General Addendum, upon its execution by both parties, incorporates by reference all provisions of the above -referenced Real
Estate Contract not expressly modified herein.
THIS IS A LEGALLY BINDING REAL ESTATE CONTRACT WHEN SIGNED BY THE PARTIES BELOW. READ IT CAREFULLY. IF YOU DO NOT
UNDERSTAND THE EFFECT OF ANY PART, CONSULT YOUR ATTORNEY BEFORE SIGNING. REAL ESTATE AGENTS CANNOT GIVE YOU
LEGAL ADVICE. THE PARTIES SIGNED BELOW WAIVE THEIR RIGHT TO HAVE AN ATTORNEY DRAFT THIS FORM.
THIS FORM IS PRODUCED AND COPYRIGHTED BY THE ARKANSAS REALTORS ASSOCIATION. THE SERIAL NUMBER BELOW IS A
UNIQUE NUMBER NOT USED ON ANY OTHER FORM. THE SERIAL NUMBER BELOW SHOULD BE AN ORIGINAL PRINTING, NOT MACHINE
COPIED, OTHERWISE THE FORM MAY HAVE BEEN ALTERED. DO NOT SIGN THIS FORM IF IT IS BEING EXECUTED PAST DECEMBER 31,
2000.
FORK SERIAL NUMBER: 32ADM-13021-0DD04
(month)
The
Nlckle-Hila
abov�e1addde�n�l,) (ddum is executed on f 1
"]6 a
L^r�wiay) J (year) 2000 at (:
pm).
,
Al
�
Sadd Scatty/rex IDI
Group,
Inc. 6, NJ
Vtc.(.IJ - (� /
Buy
Seting
Agent Firm
Supervising Broker
Segirg
The
(month)
. Ont
above
Januar,
Buyer
addendum is executed on
(day) 05 (year) 2000 at (am
(pm).
Social Secudlyrrw IDI
Fsm
WongAgent
Supervising Broker Sd Social SecurittrTex IDI
Listing Agent Rid Sellars flame Seger Said SecurityfTea IDI
(THIS SPACE LEFT INTENTIONALLY BLANK)
Fain *Awns. Ra. 591
Real Estate Contract W
Alias
(Commercial) ,+ NCIaF GROUP
Pays 1 015 a INC.SNC°
°Dy"Ber
fA Arkansas
REALTORS*
Association
oom5on
maEAtToa•
Farm Serial Number. 32ADM-10WOJJ-ODOOI
1. PARTIES: Cache Investments and/or Assigns
(IndrvWualy, or collectively, the
'Buyer) offers to purchase. subject to the firms and conddions settorth herein, from CRN of Fayetteville
MSithsay or colectMMIy, the'Saar), the minty <Scrbed trh Paeggh
2 of this Red Estate Contact
as commencina the
(the
-1top«tn
2. LEGAL DESCRIPTION AND ADDRESS:
I nt 1 Research and Technology Park Favettevile AR. being more oarticularly described
at
northwestcomer or Section 33. Townshio 17 North. Range 30 West thence 887°19'24"E 330 feet thence S02°28'10"
1816 05 feet thence S02°28'11"W 2480.65Seet. thence 587°1_8'01"E 1952.09 feet. to the west Right of Wav 1-540
of
thence following said Right of Wav N34°22'18"E 353.24 feet to the True Point of Beginnincr thence N55°37'26'W 288 7
feet thence N34°22'52"E 375 00 feet. thence_855°37'26"E 288.641eet to the West Right of Wav of I-540 thence
fofovnna said Right of Wav S34°2218'W 375.00 feet to the Point of Beginning and containing 2.50 acresless
and being subiect to all Riahts of Way and Easements of Record or Intent
more or
$ 93.750.00
3. PURCHASE PRICE: Buyer shall pay the hollowing to the Seller for the Property (the 'Purchase Price')
payable as follows:
Cash at Closing
4. CONVEYANCE: tiniest otheEv ise specified, conveyance of the Property shaft be made to Buyer by general warranty deed, in fee simple absolute,
except it shall he subject b recorded instruments and easements if any, which do not materially affect the vak* of the property. Udess expressly
reserved hereil, SUCH CONVEYANCE SWELL INCLUDE ALL M NE RAL MONTS Canal BY SEVER cowman AND LOCATED ON TnE
PROPERTY. ta ANY.
5. TITLE INSURANCE: VNthb 90 days of aacopla ar, Sager duo furnish b Buyer a ommnbnent for an American Land Title Association
(ALTA) owner's tide Insurance poky len the amount of the purchase pace Issued by a company of SelWs choice authorized to Insure title to real property
in the State of Arkansas and which company is reasonably acceptable b Buyer.
Whoa the tine commitment dews medal examforo b fille other than those stsodad except= contained In the ALTA oo mrntd form, and where
such special excep5ons mlab b redrldms, medBore, ddeds or other matters which would Interfere wap Buyers use a adversely /Sect the vase of
the premises. ben within 20 days of delivery of the fide oarrent eat &ner she deliver *Meso notice thereof b Saar. Such rote shall state
specifically Erose arcanens b which Byer objects. AI ob$e dons not syedrealy enumerated within such a timely delivered notice shall be deemed b
be waived by Buyer.
Ydthio 20 days of Buyers (lathery of noticed objections b Seller, Seller may sae such objections or have the exceptions waived or removed by
the We company issuing the comm ant If, Whin such 20 day period, Seffer tab le are ander have waked such objections and exceptions, ar
Minn that period. Seller delvers set rote b Byer that I sit mut so sae, ten titin 20 days from dimly of such noise from Seder sr the
end of the period vett whit Stier may Eire (W ddever Is appdeable), Byer dal have the option to:
a. Terminate this agreement by claming erten nuke thereof to Seder, in which event all sums paid or deposited by Byer shall be returned to
Buyer
b. Agree to purchase the Property as scheduled subject to such objections and exceplions with no reduction in the purchase price; or
c. Agree to extend the dosing date for 30 days to give Seller additional time to cure such objections. I Buyer fills to darer notice of
terminate or gent an extension of the doting date within tat period, the oijec6ms shag be deemed to be waived end the beneectn shag
dose as siedubd
Saar shall furnish the co mratbd owners kb iEmawme poky as won as preamble ago dosing, and shad pay al expenses Mated b the owner's free
insurance policy.
6. EARNEST MONEY: Buyer herewith tenders a check for $ 500.00 to be deposited upon
aooeplwoe as earnest money (tiro tamed Money" .W. she apply lama the Rectum Nice a clean° cash. Enst money shed be held In
emus by Niclde-HIS GrouP. hlc. S Ws requirements we nothdMed or a
time oonrmgendes proN6tg for an Earnest Money refund se not attack the earnest money she be promptly refunded b Byer. S Buyer fats b frul®
is obligations wider this Red Estate Contract or if, after al conditions have been met, Byer mis b dose Ids iamacdon, the sanest money may, at the
sole and exclusive option of the Seca, be retained by the Seller as Iquideted damages. Alternatively, Sena may reign the Evened Money end assert all
legal or equitable rights which may exist as a result a Byer breeching Ids Red Estate Contract Buyer warrants, represents and Scnowledges that the
deck tendered wtl be booed upon prewntaion to Buyers bank, and that Buyer shag be in dated of this Red Estate Contact I the check is not
honored h a Bray manner. Buyer and Sella agree that In the event of any depute mncwniog entitlement to the Earnest Money, Wing Agent Frm
may Interplead Ie Earnest hbreybib a oast of oenhpetmtjulsacien, and upon such iiLrpbada, hot Listing /pant Firm and Sating Agent Fru dna,
be released from lability to Bryn and Sella. UM* Aged Fim ami be rehnbuwd e y attorneys tees recoshfrom the inbrpbad Eaned Murry.
teem /ARAM Rev. 89121E
'liT A
1.1
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nlwnAA2e. ave. 9M2P6
Real Estate Contract
Page 1 of s
Ailitiupright(Commercial)
= 99
!
REALTOR.
NICKLE-HILL GROUP, INC.
A
evaTtly7 REALTORS*
Association
Form Serial Number: 32ADM-10WOJJ-ODD01
1. PARTIES: Cache Investments and/of Assigns
(individually, or collectively, the
Tiger') offers purchase, subject
to the terms and conditions set forth herein,from City of Fayetteville
(Mwidragy or cobrEs*y, be 'Sella(). be property decated in Paragraph
2 of this Real Estate Contact (the
TroPafl6
2. LEGAL DESCRIPTION
DDRESS:
Lot 1. Research and Technology Pa , etteville. AR. being more particularly described as:Northwest Corner of
section 33. Township 17 North. Range 30 Wes , ce S 02 28'10" W 1816.05 feet thence S 02 28111 W
2480.65 feel thence S 87 18'01' E 195.09 feet to the we - ht of Way of 1-540. thence following said Right of
Way N 24 22'18" E 353.24 feet to the True Point of Beginning; The 55 37'26" E 288.64 feet to the West
Right of Way of 1540. Thence following said Right of Way S 3422'128" W feet to the point of Beginning
3. PURCHASE PRICE: Buyer shal pay the following to the Seller for the Property (be 'Purchase Price')
payable es follows:
$ 93 750.00
Cash at Closing
4. CONVEYANCE: Unless otherwise specified, conveyance of the Property shal be made to Buyer by general warranty deed, in fee simple absolute,
except It shag be subject to recorded Instruments and easements l any, which do not malledepy affect the vale of the Property. Unless expressly
reserved hseb. SUCH CONVEYANCE SHALL INCLUDE ALL MINERAL RIGHTS OWNED 9Y SELLER CONCERNING AND LOCATED ON THE
PROPERTY. IF ANY.
5. TITLE INSURANCE: Wifib
90 days of acceptance, Seler shag furnish to Buyer a commibnent
for an American Land Title Association
(ALTA) owners file insaence poky in the amount of the purchase price issued by a company of Settees choice authorized to insure file to reel property
b the Stab of Arkansas and which company is reasonably acceptable to Buyer.
Where be title commitment shows special exceptions to We other than those standard exceptions candied 'n be ALTA commitment form, and where
such spedd exmp&pm relate to restrttons, wndtions, defects or t matters which saki interfere with Byers use r adversely Bled the value of
ler p embus, then wt'Ohih 20 days of deMay of the bile commitment, Buyer dad deFer written nokce
thereof b Sella Such notice slug stab
specifically those exceptions b whim Buyer objects. Al objections not speolcely enumerated with sudi a timely Mowed notice shag be deemed b
be weed by Buyer.
Wghin 20 days of Buyer's
defwery of notice of objections to Saler. Seller may cure such objections or have the exceptions waived or removed by
the title company issuing the commibnent
It within such 20 day period, Seller fate to cure ander have
waNed such objections and exceptions. or
within Bud period Saler delvers
urban notice to Buyer that ft wI not so ase. len Mtn 20 days from
dalery of such notice tom Salter or the
end of gm period within W W Seller
require (wit hew is eppica L ). Boa steel have the option b:
a. Trmbde fids egeanrd by abaft widtan notice thereof to Sella, in which meld all runs paid or deposited by &rya deal be rebased to
�j�
b. Agree to purchase be Property as scheduled subject to such objections and exceptions with no reduction in the purchase price; or
c. Agree b extend the dosing
dab for 30 days b glue Seller additional time to cure such objections.
1 Buyer fads to deriver notice of
termination or grant an
dose as sdhecked
extension of the dosing data within that period, the objections shal be deemed
to be waived and the transaction shag
St shag hsddh be cared orgies We Insurance poky as soon as practicable after chum, and sial pay M expenses raided to bre rmers file
insurance poky.
6. EARNEST MONEY: Buyer
herewith lenders a check for S 500.00 to be deposited upon
ampbnce as Barest money
(the 'Ernest Money') which shal apply bwrd the Purchase Price or dosing costs. Eared money shal be held in
escrow by Nickle-Hill Group, Inc. . If title
requirements are not fulfilled or if
those contingencies prSS9 for at Eared Moray refund we not a6 -red, the awned money shall be promptly refunded
to Buyer. If Buyer tube to UM
is obfgations under Ids Red Estate Contact erg after all condfions have been met, Buys Iebs to dose fids tcisalon, be eared money may, et the
sole and exclusive coon of the St, be retained by the Self as iguidded damages. AltmarNdy. Saler may retro the Ernest Money and assert all
legal or epidehb rights which may exist as a rend of Buyer teeching this Real Estate Contact Buyr warrents- represent and admowbdges bat the
deck tendered will be honored upon presentation to Buyer's bank, and bat Buyer shall be in default of this Red Estate Contract if the check is not
honored hi a limey manner. Buyer and Seger ogee bat In the event of any dispute concerning entitlement tote Earnest Money, Listing Agent Firm
may interplead the Ernest Money thb a court of competent jurisdiction, and upon such interpleader, both Listing Agent Firm and Sating Agent Fico shag
ha released from lability to Buyer and Seller. Listing Agent Fim shal be reimbursed any atbmeys fees or costs from the interplead Earnest Money.
nlwnAA2e. ave. 9M2P6
1
•
Real Estate Contract1
(Commercial) NICKLE-HILL GROUP INC.
Pepe 2 of r
up
99
tTO
REALTOR.
Arkansas
awam:n REALTORS@
Association
Form Serial Number. 32ADM-10WOJJ-ODD01
7. SURVEY: (Check one)
❑A. No survey shall be provided.
to Buyer
requirements.)
by Seller within 60 days
B. A cement survey, certified subsequent to acceptance by a registered land surveyor, will be provided
after acceptance and paid for by 0 Buyer -' Seller. (See Paragraph 16 far any specific survey
❑ C. Otlbr.
8. PRORATIONS: Taxes and special assessments due on or before dosing shall be paid by Seller.
tandwmd to Buyer at closing. Insurance, general taxes and special assessments, rental payments and interest
as of dosing, unless otherwise specified harsh.
9. FIXTURES AND ATTACHED EQUIPMENT: Mess spedfcdy excluded heron, d fixtures and
the purchase price.
10. CLOSING: Cbdng shall occur at such time as mutually agreed by the parties, provided that the date shat
(day) 31 (yea) 2000 unless such raquromenl is waived in writing by both pates and a new date
Any deposits
on any
added
be no
substibtd
Buyer
on rental property are to be
assumed ban shall be prorated
equipment t any. ere i luded in
later then (month) Januar,/
therefor. Unless othands°
agreed by Buyer and Sew, tansedah cods vel be ped by Bre party indicated bebw.
Seller
Tte Examination or search bin Recording bas
Premium for owner's tide insurance potty Premium for mortgagees title insurance poky
Preparation of conveyance documents Preparation of loan documents
One-half of escrow fees One-half of escrow fees
One -hal of documentary stamps One-half of documentary stamps
Other charges as customarily paid by Seller Other chargee customer* paid by Buyer
IRS Notification farm
11. POSSESSION: Possession of the Properyand be defwaed to Buyer (Check one)
®A Upon the dosing dab
0 Other, es blows:
12. SELLER PROPERTY DISCLOSURE: (heck ah)
the Listing Agent Finn have delivered to
concerning the condition of the Property,
15 of this Red Estate Contact The written
and is warranted by Seller to be
=' A NotAPplcable
❑ B. Buyer and Seller acknowledge that upon the authorization of Seller, either the Seting Agent Firma
Buyer, prior b the execution of this Red Estate Contact a written disclosure prepared by Seller
but this fact neither limits nor restricts the Buyers Disclaimer of Rebut set forth in Paragraph
dsobare prepared by Seller is dated (month) (day) (year)
_,
the latest disclosure and the anawasoontaned in the dkrinare we he, correct end complete
❑ C.Sder wet provide to Buyer a tartan disdusae about the condition of the Ropaly which eel omen
bed of to Sellers knowledge. The tabu re shat be presented b Byer Whin days
to the best of the Sellers km:Sedge.
information that is true and correct to the
alta the utopias° of this Real Estate
Estate Contact nul and void, with Bea
tree (3) business days altar receipt of
to receive a refund of the earnest money.
set forth in Paragraph 15 of this Real
of Sellers nhaMedge (unless otarae
waste etemtonmente contamination;
protection;
ding the period that Seller has owned the
a licensed operator, satisfactory to Buyer.
Contact If Seller fats to provide to 55dssue as specified above, Buyer may declare the Real
to receive a refund of the earnest money. If Buyer finds the disclosure unacceptable within
disclosure, this Real Estate Contact may be declared nut and void by the Buyer. with Buyer
Receipt of this disclosure neither Inds nor restricts in any way the Buyer's Dleaabner of Reliance
Estate Contact
13. ENVIRONMENTAL REPRESENTATION: Seer hereby represents to Byer that b the bed
disclosed heron):
a. the FyopMy is not the subpct of anyphdkcal or admidstdve notice a action relating to hazardous
b. Sala has received no notice of any dein orviolation of any law or regulation having to do with environmental
c. No hazardous or toxic substances have been stored, processed, or disposed of on the property
Property,
d. No underground storage tanks are located on the property.
14. TERMITE CONTROL REQUIREMENTS: (Chadic one)
A None
0 B. Siler dull provide prior b dosing, at Sellers expanse, a tweet ter nye control poky issued by
1
Real Estate Contract
(Commercial)
Page 3 of 5
Form Serial Number. 32ADM-IOWUBG-ODD03
15. BUYER'S DISCLAIMER OF RELIANCE: BUYER CERTIFIES THAT BUYER HAS PERSONALLY INSPECTED OR WBL FERIXINALLY
INSPECT, OR HAS 14AD OR VMLL HAVE A FEPRESENTAI1YE INSPECT, THE PROPERTY AS FULLY AS BUYER DESRES AND IS NOT RELYING
AND SHALL NOT HEREAFTER Ray UPON ANY m ANRES, REPRESENTATIONS OR STATEMENTS OF THE USTING AGENT FIRM, THE
SELLNG AGENT FIRM, OR ANY AGENT, NDEPENCENT CONTRACTOR OR EMPLOYEE ASSOCIATED WITH THOSE ENImES, REGARDING THE
AGE, SIZE. QUALITY, VALUE OR OONDMON OF THE PROPERTY, INCLUDING WITHOUT IMITATION ALL IMPROVE&ENTS, ELECTRICAL OR
B ECHAN/CAL SYSTEMS, PLUMBING OR APPi1ANCES, OTHER THAN THOSE SPECff® HEREIN, IF ANY, WHETHER OR NOT ANY E)QSTING
DEFECTS N ANY SUCH REAL OR PERSONAL PROPERTY MAY BE REASONABLY DISCOVERABLE BY BUYER OR A REPRESENTATWE HIRED
BY BUYER. NEITHER LISTING AGENT FIRM NOR SELLING AGENT FIRM CAN GIVE LEGAL ADVICE TO BUYER OR SELLER. LISTING AGENT
FIRM AND SELLING AGENT FIRM STRONGLY URGE THAT STATUS OF TITLE, PROPERTY CONDITION, QUESTIONS OF SURVEY AND AL1
REQUIREMENTS OF SELLER AND BUYER HEREUNDER SHOULD EACH BE INDEPENDENTLY Wwr0:UAND INVESTIGATED.
16. CONTINGENCIES. Buyers oar bpsdo t Pepmyh awes scalloped upon Buyers sandman dee cerdrgmeHaschecked bakes
wei, be deadline bdubd beach contingency. Buyer shall noby SS In writing when le contingencies ens settled. If Buyer Ws to provide such
salon notice before the Imitated deadline that a contingency checked below has been engaged, then bb Red Estate Contact shut be void and the
earnest money that be refunded b Buyer. mid Buy& and Sego shag have no further obtrusion b each Iter. Contingences (check all that appy):
®A Obtain adidedoryfrwrmg, el Buyer's sale decagon, wean 45 deyediereooeplmoe.
a Obb6 saktholoryresupsdabestiyddRLdagaraadsd®ea_Lwilt 30 days Misr meplance.
Da Obbb sdcleckryrmdbda propmyhsaedoh, et Buyer's sobdaoslon.*len_dap S septan.
®D. Obldhedtleckrymadb ofen enionnedelreport d Buyarssole decagon. within 30 days dem acceptance.
D E. Obtain satisfactory rezoning, plating, replotting. orzoning verification, al Buyer's sole &seat., origin days dem acceptance.
E. Obtain approval of Buyers Lame Scale Development plan from City Planning
vein 75 days Ow acceptance.
G Buyers approval of review of Technology Park covenants
vein 30 days dor amepteme.
❑ H.
NICKLE-HILL GROUP, INC.
Ceekding
99
Arkansas
REALTOR orpo r °hv REALTORS®
Relocation
wain drys eller acceptance.
Addgonalrequirements related to any ofabove cenbngences:
Specific Survey requirements (see Paragraph 7):
Spacial Conditions:
Seller will credit Buyer $13,000.00 to offset additional expenses of Buyer to accommodate change
of
Buyer's site to current location. - ..
.. .. .. . ... _ ..... . -
_
• . Seller will grant Buyer a first fight of refusal on the
purchase of Lot 2, Phase L Seller will provide all public utilities (water. sewer. electricity. natural to
gas)
the site no later than Junk; 15. 2000. Seller will pay Buyers Agent a sales fee $7 500.00
of for this
transaction : . _ - .
... .. - . - - - - . _
. -
LoF2-Seller agrees to negotiate a sales fee with the Buyer's Agent N Lot 2 is
purchased by the
Buyer.
Seller asserts and buyer hereby acknowledges that this offer is expressly contingent
upon the
approval of this offer of sale by the City Council of Fayettevfle and that the failure
of the Council to
so approve will make all portions of this offer null and void. including, but not limited to. the return
to the buyer of the $500.00 eamest money deposit.
•
Real Estate Contract zillifi'ii/
(Commercial) NICKLE-HILL GROUP, INC.
Page 3 of 5
Caprighl
036
99
_
remota* w. �w RE LT
Assocmtion
Fomi Serial Number. 32ADM-IOWUBG-00D03
15. BUYERS DISCLAIMER OF RELIANCE: BUYER CERTIFIES THAT BUYER HAS PERSONALLY
1N5. OR HAS HAD OR WILL HAVE A REPRESENTATIVE INSPECT, THE PROPERTY AS FULLY AS
AND NOT HEREAFTER RELY UPON ANY WARRANTES, REPRESENTATIONS OR STATEMENTS
RFt I ING a NT FIRM. OR ANY AGENT. INDEPENDENT CONTRACTOR OR EMPLOYEE ASSOCIATED WTH
AGE, SIZE, • . . VALUE OR CONDITION OF THE PROPERTY, INCLUDING WITHOUT LIMftATION
MECHANICAL • STEMS. PLUMBING OR APPWWCES, OTHER THAN THOSE SPECIFIED HEREIN, IF
DEFECTS IN A CH REAL OR PERSONAL PROPERTY MAY BE REASONABLY DISCOVERABLE BY
BY BUYER NEITH LISTING AGENT FIRM NOR SELLING AGENT FIRM CAN GIVE LEGAL ADVICE TO
FIRM AND SELLING ENT FIRM STRONGLY URGE THAT STATUS OF TITLE, PROPERTY CONDITION,
REQUIREMENTS OF R AND BUYER HEREUNDER SHOULD EACH BE INDEPENDENTLY VERIFIED
16. CONTINGENCIES: idler purchase the Property isexpend./ nonevent upon Buyers satisfaction
within be dee3re iiidmted for .:. contingency. Buyer shat robfy Segs in writing viten P* contingencies
mitten roes* before be indicate• •. Bathe that a contingency checked below hes been setided, ten this
earnest money shell be minded b : yer, and Buyer and Segs shat have no further obigation b each other.
INSPECTED OR WALL PERSONALLY
BUYER DESIRES AND IS NOT RELYING
OF THE LISTING AGENT FIRM,
THOSE ENTRIES, REGARDING
ALL IMPROVEMENTS, ELECTRICAL
ANY, WHETHER OR NOT ANY DUSTING
BUYER OR A REPRESENTATIVE
BUYER OR SELLER LISTING
QUESTIONS OF SURVEY AND
AND INVESTIGATED.
of the contingencies checked
we sa5ffied. If Buyer tads b provide
Real Estate Contact shat be void
Contingencies (check d that appy):
after acceptance.
atter ecoepMnm.
days ager acceptance.
THE
THE
OR
HIRED
AGENT
ALL
bebw
such
end the
_• A. Obtain sa sfacby fm. •. •, at Buyers sob discretion, wibn 45 days after acceptance.
IN B. Obtain setisiactmy results o foanbBy study. at Buyers sob (bastion within 30 days
O C. Obtain satidacbryresub of a . i... bepes6o i. M Buyers sob dkaabon. tdhb days
30
®D. Obtain sdsfedayresub of an ... .. ,. fel repel at Buyers sole dirvdon. train
❑ E. Obtain sddada, rezoning, • —01 . requiting, a zoning wanton, et Buyers sole discretion,
® F. Obtain approval of Buyers L-rge Scale Development plan from City Planning
within days filer acceptmce.
within 75 days after acceptance.
G. Buyer's approval of review of T hnoloqy Park covenants
within 30 days altar acceptance.
❑ H.
within days ager acceptance.
Addtiond requirements related b any of above contingence
Speck Survey regrdsnadc (see Paragraph 7):
Special Conditions:
Seller will credit Buyer $13,000.00 to offset additional expenses of Buyer to - commodate change of Buyers
site to current location. Seller will grant Buyer a 2 year option to purchase pro • . sed Lot 2, Phase 1, adjoining
subject lot at the same per acre price. Seller will provide all public utilities fwate
sewer. electricity. natural
of $7.500 for this
gas) to the site no later than July 15. 2000. Seller will pay Buyers Ment a sales
transaction and will pay Buyers Agent a sales fee of 510.200,00 if Buyer exercises •ption to purchase Lot 2.
•
1
Real Estate Contract
(Commercial)
Page 4 015
I I° Arkansas
99
NICKLE-HILL GROUP. INC. REALTOR• a„'i 10 R�cORS@
Fenn Ssid Number. 32AD11-1OWOJJ-0DD01
17. AGENCY: (Check one)
❑ A. LISTING AGENT FIRM AND SELLING AGENT FIRM REPRESENT SELLER: Buyer acknowledges that the Listing
Agent Firm and the Selling Agent Fire and ad Ikansees associated with those entities we the agents of the Seller and that it is the Seller
who employed dram, whom they represent, and to whom they are respanaLb. Buyer acknowledges that before ailing or receNiig
confidential intonation from the Buys, be Seng Agent Fem, which may be be same as the Liao Agent Fran, verbally disclosed that the
Sating Agent Frm represents the Sada.
❑ B. LISTING AGENT FIRM REPRESENTS SELLER AND SELLING AGENT FIRM REPRESENTS BUYER: Buyer
and Seem acknowledge that the Listing Agent Fri is employed by the Seder and the Sailing Agent Firm is employed by the Buyer. All
dcensees associated with die Listing Agent Firm we employed by, represent, and are responsible to the Seller. All Scansees associated
with the Seeing Agent Firm ere employed by, represent, and we responsible to the Buyer. Buyer acknowledges the Selling Agent Fim
verbaly tied sod that the Listing Agent Fran represent: the Seder. Seder admmabdges the Usting Agent Firm verbally dsdosed that the
Sebig Agent Firm represents M dryer.
❑ C. LISTING AGENT FIRM AND SELLING AGENT FIRM ARE THE SAME AND REPRESENT BOTH BUYER AND
SELLER: Swim and dryer hereby acknowledge and agree that the Listing and the Selling Agent Fim are the same and all dcensees
associated with the Listing end the Sading Agent Fhn we representing both Buyer and Seller in the purchase and sale of the above
referenced Property and that tistinglSedng Agent Firm has been and is now the agent of both Saler and Buyer with respect b this
trmrsedion. Seder and drys have bath consented b and hereby canteen Brei consent to agency representation of both parties, Farther,
Seger and Buyer
(1) agree that the LiangfSetimg Agent Firm shad not be requied to and shall not disclose to either Buyer or Seger any personal,
Handal or other confidential information concerning the other party without the express written consent of that party. This
restriction excludes information related to defects In the Property which should, at Listing/Sating Agent Firms, discretion, be
dsclosed. Confidential information shed 'include but not be limited to any price Seller is willing to accept that is less than the
offering - or any pine to dryer lees &.g to pay bails higher than that offered In sang.
(u) by selecting Ns option 17C, dryer end Seder acknemiedge that when Listing/Sang Agent Frm reorients both pates, a
possible coact of Merest artiste and Seeer and dryer further agree b Met that tndMdud right to receive is undivided loyalty
of ListinySetng Agent Fem.
a wales any claim now or hereafter arising out of any condids of Interest on ListinySelfing Agent Fim representing both parties.
Buyer and Seger acknowledge the Lisfing!Seling Agent Fire verbally disclosed that the Listing/Sang Agent Firm represents both
parties in this transaction, and Buyer and Seger have given their written consent to this representation before entering into this
Rad Edda Contact
D. SELLING AGENT FIRM REPRESENTS BUYER (NO LISTING AGENT FIRM): Segs acknowledges that the Seting
Agent Fern and ail hcersees associated Oh the Sefng Agent Fern are be agents of Ow dryer and bald is be drys who employed them,
whom they represent, and to whoni they we responsible. Seller acknowledges that at first contact, the Seting Agent Firn verbally d'sdosed
that the Selling Agent Fsm represents the Buyer. Any reference to 'Listing Agent Firm' in this Red Estate Contract will be considered to
mean be Selling Agent Fun, both Buyer and Seder acknowledging that ad agents involved ii this Real Estate Contact only represent the
Buys.
18. RISK OF LOSS: It prior b do®rg d this tesston tie improvements on the popery shag he destroyed er material, damaged by fro or other
ceatedy, this Real Estate Contact at ger option dew Buyer snag be null and void. If Buyer shat elect 11 the event of such loss, that the Real Edab
Contractshall be performed, Buyer shag be entitled b the proceeds of insurance applicable b the less for use In repakng said loss
19. GOVERNING LAW: This Real Estate Contact shall be governed by the laws of be State of Arkansas.
20. MERGER CLAUSE: This Real Este Contract, when executed by both Buys and Seder, drat cancan be entre understanding end agreement
between the Buyer end Sets with inspect to ail metiers refined to herein and shoe supersede d prior s contemporaneous agreements,
representations, discussions and understandings, oral or written, with respect to such maters, The Real Estate Contact shed not supersede any agency
agreements entered into by Buyer or Seller and Listing Agent Fim or Seeing Agent Fico.
21. ASSIGNMENT: Ns Red Estate Contract may not be assigned by drys without be par written consent d Sills, such consent not to be
unreasonedy *Melt ft ad not he uaeemnehe ler Siler to withhold consent d Seger is b provide financing for drys in any amount
22. ACCEPTANCE: The tern as used herein shad mean the later of the two dates on which the Real Estate Contact Is signed by
Seller or Buyer, as indicated by their signatures below, which later dab shall be the date of final execution end agreement by the parties hereto. I1 any
dale or deadfine provided for herein fads on Sabrday, Sunday, or a holiday, the appficeble date shall be the next business day.
Fom DRAM Rm. 981216
Real Estate Contracta
(Commercial) NICIQEaiILLGROUP
Page 5 o15
s INC.
corium
99
A'tam`�`
REALTORS®
Association
EA
REALTOR
23. EXPIRATION: This Real Estate Contract expires if not accepted
(year) 1999 at 5:00 PM (am)(pm).
in writing by Seller on or before(month)
November (day) 30
THIS IS A LEGALLY BINDING REAL ESTATE CONTRACT WHEN SIGNED BY THE PARTIES BELOW. READ IT CAREFULLY. IF YOU DO NOT UNDERSTAND
THE EFFECT OF ANY PART, CONSULT YOUR ATTORNEY BEFORE SIGNING. 'REAL ESTATE AGENTS CANNOT GIVE VOL) LEGAL ADVICE. THE PARTIES
SIGNED BELOW WAIVE THEIR RIGHT TO HAVE AN ATTORNEY DRAFT THIS FORM,
IRIS. FORM IS PRODUCEDANDCOPYRIGHTED BY.THE ARIUWSAS REALTORS ASSOCIATION. - THE SERIAL'iNUMBER- BELOW IS A
UNIQUE NUMBER NOT USED .ON ANY-.0THERFORM.- THE. SERIAL NUMBERBELOW SHOULD BE. AN ORIGINAL PRINTING, NOT
MACHINE. COPIED, OTHERWISE.THE: FORM MAY HAVE BEEN ALTERED. DO NOT SIGN THIS FORM IF IT IS BEING EXECUTED PAST
DECEMBER 31.1999.
- FORM SERIAL NUMBER: 32ADM-10WQJJ-0D1101
The above Red Estate Contract Is exaa td by Buyer an (month) November (day) 18 (yea) ' • ' at 2:30 PM (am)(pin).
Nickle-Hill Group. Inc. /Y
1#{ c
a
y
..4 , u /
'
at
A
(am)(pm).
-N_ C.--af
8 rl
1)34 bb
Beyer
(day) (yea)
Ming Agan Fmm Sepavrsing
1-iMethOk_ Veretn,
Sting AWS Print Buyers Nene
The above Red Estate Contract is executed by Sega on (month)
Seller agrees to pay Listing Agent Firm a fee equal to
for
professional services rendered. If
% to Seting Agent Finn. H tar any
equally behleen Sella and Listing
,...--
% b
Listing Agent
the provision
Fmn and
co-brokerage apples. said be shall be divided
reason the earnest money provided for Torah is fabled by Buyer under
Agent Fn.
hereof, sane dual be divided
/
Listing AgedFtml SupeMskg Braker Sala
Listing Agent Prim Seller's Name - Seller
Faso/NWA Rev. 981216
1
•
RECEIVED
STAFF REVIEW FORM NOV 2 914399
CITY OF FAYETTEVILLE
CITY CLERICS OFFICE
Agenda Request
FOR THE FAYETTEVILLE CITY COUNCIL MEETING OF December 7, 1999
FROM:
Alett Little
•
Economic Development Department
ACTION REQUESTED: Approval of a real estate contract to sell Lot 1, Arkansas Research and Technology
Park, consisting of 2.5 acres, to Cache Investments and/or Assigns (Interface Computer Center, L.L.C.).
Grant of a first right of refusal on Lot 2, Arkansas Research and Technology Park.
COST TO CITY: Revenues of $93,750.00/,, less credits and sales fees.
50 1.444Ooo (tcoo3 .)
Cost of this request Category/Project Budget /
lo10-000i-4881-on
eke&
Category/Project Name
Account Number
Project Number
Funds Used to Date Program Name
241..e. c c (tc ao73. e}, 6Ea€EAL
Remaining Balance Fund
BUDGET REVIEW: $ Budgeted Item
AbtCL
Budget Coordiinator Administrative Services Director
Budget Adjustment Attached
CONTRACT /GRANT/LEASE/REVIEW: GRANTING AGENCY:
!(ir+t(ry 1/ -.71.a -9y
Acco , ing l Date ADA Coordinator A Date
Lfi /7.2 3.. 9 JAI Idd Ilk et ll -472-$4
City Attorn Dateternal Auditor Date
Purchasing Officer Date
STAFF RECOMMENDATION: Staff recommends approval of the real estate contract grant of first right of
refusal.
agettie 1 C
eq 399
is Deve opment Director Date
41)
es Director D e / 9y
"rn /' / Orig Contract Date:
Cross Reference
New Item: ,cYes
Previous Ord/Res#:
Mayor Date
•
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
ECONOMIC DEVELOPMENT DEPARTMENT
4500 S. School Ave., Ste A
Fayetteville, AR 72701
Telephone: 501-575-8305
Fax: 501-575-8304
TO: Fayetteville City Council
FROM: Alett Little, Economic Development Director
DATE: November 23, 1999
SUBJECT: Real Estate Contract to Purchase Lot 1 of AR Research and Technology Park
Interface Computer Center, L. L. C., under the name of Cache Investments and/or Assigns, has
offered to buy Lot 1 of the AR Research and Technology Park. Lot 1 consists of 2.5 acres and has
frontage both to Shiloh Drive and to Technology Boulevard The purchase price is $93,750.00
which is $37,500.00 per acre. Purchasers have requested a first right of refusal on Lot 2.
Staff Recommendation: Staff recommends approval of the real estate sales contract for Lot 1
and the first right of refusal for Lot 2.
Background: Interface Computers is the first company which expressed an interest in locating in
the Arkansas Research and Technology Park. Their company, headed by Jeremy Webb, Matt
Romine, and Scott Mills, began in Fayetteville in 1994. From their start-up of three employees,
the company has grown to 17 employees. The SBA chose this local company to receive the 1999
Young Entrepreneur of the Year Award for the State of Arkansas and for a five -state region. The
company has exceeded its projections for numbers of employees in 1999 and estimates that over
the next two years, they will grow to over 20 employees with an annual payroll of $1/2 million and
revenues of $3-4 million.
The City has worked with Interface Computers to find a site which will be suitable for the growth
and expansion of their business. Due to the presence of wetlands on a portion of the project,
engineers have redesigned the Park from earlier versions and created a lot which is acceptable to
Interface Computers. As Interface has already selected one lot and additional site preparation will
be required for Lot 1, a credit of $13,000 has been offered to offset the additional site preparation
costs. The preliminary plat for the subdivision is currently under review by the Planning
Commission and public hearings are scheduled for December 2, 1999 at 8:30. a.m. in Room 111 of
City Hall and December 13, 1999 at 5:30 p.m. in Room 219 of City Hall.
. 1
PROJECT LOCATION
•
I1
ICI I+Y MAP
•
FAYETTEVILE
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENTAL CORRESPONDENCE
•
To: Alett Little, Economic Development Coordinator
From: Heather Woodruff, City Clerk
Date: December 13, 1999
Attached is a copy of the resolution approving a real estate contract for the sale property in the
Research and Technology Park. The original will be microfilmed and filed with the City Clerk.
cc. Yolanda Fields, Internal Auditor
Ed Connell, Engineering
•
Copyright
411 ,A
General Addendum
Page 1 of 2 NICKLE-HILL
/
GROUP,
INC.
1
REALTOR®
.2000
Arkansas
zatjoonmmm EALTORS®
Association
Form Serial Number. 32RAN-1411J1-01604
Regarding the Real Estate Contract (Form Serial Number 32ADM-10WQJJ-ODD01
) dated (month)
November
(day) 22 (year) 1999
between the Buyer,
Cache
Investments
and/or Assigns
and the Seller, City
of
Fayetteville
covering the real property known as
Lot
1,
Research
&
Technology
Park,
Fayetteville,
Arkansas
(the "Property"), the Undersigned Buyer and Seller agree that:
Buyer
hereby removes contingency
16.
A of
the real
estate
contract.
Seller
agrees
to extend
contingency
period
for 16.
F
for an additional
30 days.
Buyer and Seller
agree
to extend
closing
date
to
March
15.
2000.
or sooner at
Buyer's request.
(Continued on Page 2 of 2)
General Addendum 1
/
Page 2 of 2 NICKLE-HILL
\
GROUP,
.1
Q.......
INC.
Copyright
2000'
Arkansas
a EALTOhRS®
Aociaon
1 �iti
REALTOR®«
This General Addendum, upon its execution by both parties, incorporates by reference all provisions of the above -referenced
Real Estate Contract not expressly modified herein.
THIS IS A LEGALLY
NOT UNDERSTAND
YOU LEGAL ADVICE.
THIS FORM IS PRODUCED
UNIQUE NUMBER
MACHINE COPIED,
DECEMBER 31, 2000.
BINDING REAL ESTATE CONTRACT WHEN SIGNED BY
THE EFFECT OF ANY PART, CONSULT YOUR ATTORNEY
THE PARTIES SIGNED BELOW WAIVE THEIR RIGHT TO
AND COPYRIGHTED BY THE ARKANSAS REALTORS
NOT USED ON ANY OTHER FORM. THE SERIAL NUMBER
OTHERWISE THE FORM MAY HAVE BEEN ALTERED.
FORM SERIAL NUMBER: 32RAN-141IJ1-01604
THE PARTIES
BEFORE
HAVE AN
ASSOCIATION.
BELOW
DO NOT.
BELOW. READ IT: CAREFULLY. IF YOU DO
SIGNING. REAL ESTATE AGENTS CANNOT GIVE
ATTORNEY DRAFT THIS FORM: •
THE SERIAL NUMBER BELOW IS A
SHOULD BE AN ORIGINAL PRINTING, NOT
SIGN THIS FORM IF IT BEING EXECUTED. PAST.
(month)
The
Nickle-Hill
above
addendum is executed on
January (day) 18
(year)
2000
at 10:30
a.m.
,
)(pm).
/�I
, I i
Group,
Inc.
n 1
v'e't'
A
S
Selling
Agent
Firm
Supervising
Broker
(year)
\
at
/
: ,` F
-
Selling Agent
The above
(month)
addendum is executed on
(day)
Buyer
(am)(pm).
Social Security/Tax ID#
Listing Agent Firm Supervising Broker eller Social Security/Tax ID#
Listing Agent Print Sellers Name Seller Social Security/Tax ID#
(THIS SPACE LEFT INTENTIONALLY BLANK)
O.S.DPART ;ENT OF HOUSING AND UMW TEVELOPMENT
OMB No.2502-0266
A. SETTLEMENT STATEMENT
B. TYPE OF LOAN
1.
4.
['FHA
■VA
2.
5.
0
■CONV.INS.
FMHA 3. ® CONV.UNINS.
6. File Number
FATIC 00-11165
7. Loan Number
B. Mortgage Insurance Case Number
C. NOTE: This form is furnished to give you statement of actual settlement costs. Amounts paid lo and by the settlement agent are shown. Items marked "(p.o.e.)" 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
CACHE INVESTMENTS
530 N. COLLEGE, BLDG. C
FAYETTEVIILLE,AR 72701
E.
THE
113
NAME AND ADDRESS OF
CITY OF FAYETTEVILLE
ARKANSAS
E. MOUNTAIN
FAYETTEVILLE ,AR
SELLER
STREET,
72701
F. tJAIAE AND ADDRESS OF LENDER
THE BANK OF FAYETTEVILLE, N.A.,
P. O. BOX 1728
FAYETTEVILLE, AR 72702
G. PROPERTY LOCATION
PT NE SW 33-17-30 •
FAYETTEVILLE ARKANSAS
H. SETTLEMENT AGENT
BRONSON ABSTRACT CO., INC.
PLACE OF SETTLEMENT
3810 FRONT STREET, SUITE 5
I. SETTLEMENT DATE
3-13-00
FAYETTEVILLE, ARKANSAS 72703
DISBURSEMENT DATE
3-13-00
J. SUMMARY OF BORROWERS TRANSACTION
K. SUMMARY OF SELLERS TRANSACTION
100. GROSS AMOUNT DUE FROM BORROWER
400. GROSS AMOUNT DUE TO SELLER
101. Contract sales price
93,750.00
401. Contract sales price
93,750.00
102. Personal Property
402. Personal Property
103. Settlement charges to borrower (line 1400)
162.00
403.
104.
404.
105.
405.
ADJUSTMENTS FOR ITEMS PAID BY SELLER
IN ADVANCE
ADJUSTMENTS FOR ITEMS PAID BY SELLER
IN ADVANCE
106. Clty/Town taxes to
406. City/Town tuxes In
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
93,912.00
420. GROSS AMOUNT DUE TO SELLER
93,750.00
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER
500. REDUCTIONS IN AMOUNT DUE TO SELLER
201. Deposit or earnest money
500.00
501. Excess Deposit (see Instructions)
500.00
202. Principal amount of new loan(s)
80,378.78
502. Settlement charges to seller (line 1400)
8,215.45
203. Existing loan(s) taken subject to
503. Existing loan(s) taken subject to
204. Application deposit
504. Payoff of first mortgage loan
205. Second lien mortgage
505. Payoff of second mortgage loan
206.
506.
207. OFFSET CREDIT
13,000.00
507. OFFSET CREDIT
13,000.00
200.
50B.
209.
509.
ADJUSTMENTS FOR ITEMS UNPAID BY SELLER
- ADJUSTMENTS FOR ITEMS UNPAID BY SELLER
210. Clty/Town taxes to
510. City/Town taxes to
211. County taxes 1-1-00 to 3-13-00
33.22
511. County taxes 1-1-00 to 3-13-00
33.22
212. Assessments to
512. Assessments to
213.
513.
214.
514.
215.
515.
216.
516.
217.
517.
21B.
51B.
219.
519.
220. TOTAL PAID BY/FOR BORROWER
93,912.00
520. TOTAL REDUCTION AMOUNT DUE SELLER
21,748.67
300. CASH AT SETTLEMENT FROM 019 TO BORROWER
600. CASH AT SETTLEMENT TO OR FROM SELLER
301. Gross amount due from borrower (line 120)
93,912.00
601 Gross amount due to seller (line 420)
93,750.00
302. Less amounts paid by/for borrower (line 220)
( 93,912.00,
602. Less reduction amount due seller (line 520)
( 21,748.67 )
303. CASH ® FROM ❑ TO BORROWER
603. CASH
TO ❑ FROM SELLER
72,001.33
I have carefully reviewed the HUD -1 Settlement Statement and to the best of my knowledge and bellet, 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 Settle-
ment Statement.
lite I e4.LYt CACHE INVESTMENTS
T CITY OF FAYETTEVILLE
Sellers
o the b.,' of my knowledge, the HUD -1 Settlement Statement which I have prepared is a true and accurate a
received and have been will be '-. rsed by the u r -rsigned as part of this transaction.
1
Settlement Agent U
3•(3 49
counl of
ARKANSAS
e funds which were
Date
WARNING: It Is a crime to knowingly make false s moments to the United 5lale5 on 11115 or any olh,
Imprisonment. For details see: Title 18 U. 5. Code Section 1001 and Section 1010.
nllar lona. PUOUIIies upon conviction cal, Int.lude u lieu fuel
Previous Edition Is Obsolete
F2366.LM (03/91) P(7/91) U(7/13/91)
11165
HUD -1 (0787) AESPA. HB 4305.2
•
L SETTLEMENT CHARGES
U.S. DEP 'TMENT OF HOUSING AND URBAN C ELOPMENT
SETTLEMENT STATEMENT
Page 2
700. TOTAL SALES/BROKER'S COMMISSION based on price
Division of Commission (line 7001 es follows• $ 93.750.09 a 8 000 'x- a 7.50Q00
701. $ 7 500.00 to NICKLE-HILL GROUP. INC
702 $
P�AAIID FROMSETTLEMENT
PAID FROMFg
SETTLEMETNT
703 Commission osid Ut Settlement
704.
800, ITEMS PAYABLE IN CONNECTION WITH LOAN
801 Loan Orlalnatlon Fes
7 500 00
892 loan Discount 9G
803 Aopralsal Fee
804 Credit Report
805 Lender's Inspection Fee
806. VA Funding Fee
807. Assumption Fee
808.
60h.
810
811
812
813
814.
R15
900, ITEMS REQUIRED BY LENDER TO 8E PAID IN ADVANCE
901 Interest from 3-13-00 to
Jou
902, Motlaaae Insurance Premium for
mos
903 Hazard Insurance Premium for
vrs to
904
vrs. to
an5
1000. RESERVES DEPOSITED WITH LENDER
1001 Hazard Insurance
1002 Monaaae Insurance
mos @ $ mo
mos. 4 b' mo.
1001. ray Property Taxes
mo L 0 a mo
1004 County Property Taxes
mos, te a mo
1005 Annual Assessments
mos a $ mo
1006
1007
1(x)A
1100, TITLE CHARGES
1101. Settlement or rioslna Fee
1102 Abstract or Ttle Search
mos. @ a mo
nos Ca $ mo
mns fn E rnn
to BRONSON ABSTRACT CO INC
140 00
140 00
1103, Title Examination
1104, Title Insurance Binder •
1105 Document Preparation
1106 Notary Fres
1107 Attorney's Fees
(Includes above Items No •
1108 Ttle Insurance
(Includes above Items No •
to FIRSTAMERICAN TITLE INSURANCE
1109 Lender's Coveraae $
1110 Ownrr's Coveraae $
93 750.00
407.00
1111
1112
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES
1201. Rec. Fees: Deed $
6.00 MW $ 16.00 Releases $
22 00
1202 City/County tax/glamor Deed $
: Monaaae $
1203 State tax/stamos' Deed_$
1204
1705
to
to
1300. ADDITIONAL SETTLEMENT CHARGES
1301 Survey
• Monaaae a
1302 Pest Inspection
1303 COLLFCTOR
1304
1305.
to #765-15842-001
1106
1117
1400, TOTAL SETTLEMENT CHARGES (enter on lines 103, Section J and 502, Section K)
'The Undersigned Acknowledges Receipt of This Settlement Statement and Agrees t
Buyer CACHE INVESTMENTS
Buyer
x2%1 si
Buyerr
.'r1„I
V!.
ifvAi
Nous editio Of obsolete
.792.LMG (2/00)
11165
COrrey ne s dhereof.
Seiler E CI~ •F FAYETTEVILL
168 45
162,44 8,21545
art
Seller ARKANSAS
March 13, 2000
Date
form I•IUD•1 (3/86)
ref Handbook 4305.2