HomeMy WebLinkAboutAgreement for Purchase of Real Estate - Foreman - 2005 ---- WHLLHI..K 5UIvIi S HAAS NO.165 P.2/7
AGREEMENT FOR PURCHASg OF REAIJn ESTATE
This Agreement for Purchase of Real Estate (the""Agreement"), entered into by and
betv(een The City of Carmel Redevelopment Commission(the"Purchaser"),and William E.Foreman and
Marcia A. Forei"nan (jointly and severally, the "Seller"), this _ day of , 2005,
WITNESSES:
1. Conveyance. Subject to terms and conditions of this Agreel;nent, Purchaser shall purchase froth
Seller,and Seller shall convey td Purchaser,certain real estate ownedrby Seller and located at (a) lit Street
S.E.; and (b) 40 1gr Avenue S,E.; each In Carmel, Indiana, which real estate is depicted on Exhibit A
(collectively, the"Parcel"), together with and including all of Seller's right, title, and interest in and to: (a)all
buildings and improvements located on the Parcel (the "Improvements"); and (b) all rights, interests,
privileges, and easements in any way appertaining to the foregoing, or used in connection therewith (the
"Rights"). The Parcel, the Improvements, and the Rights, collectively, are the "Property",
2. Purchase Price, The purchase price for the Property shall be$230,000.00(the"Purchase Price").
3. Earnest Money. Within five business days after the date hereof(the"Execution pate"),Purchaser
shall deposit $5,000,00 (the "Earnest Money") with Hamilton Title Security, L.L.0 (the "Title insurer").
Purchaser shaft forfeit the Earnest Money to Seller if: (a) Seller has performed all of its obligations
hereunder(including,without limitation, its obligations under Subsection 8(a));and(b)Purchaser fails or
refuses to perform its obligations hereunder, despite the fact that all conditions of the performance of
Purchaser have been satisfied or waived by Purchaser in writing, such forfeiture of the Earnest Money
shall: (a) constitute liquidated damages; and (b) be the sole remedy of Seller at law or in equity. The
Earnest Money-otherwise shall be paid, forfeited, refunded, or applied in accordance with the terms and
conditions of this Agreement, All interest earned on the Earnest Money shall be added to,and deemed
to be part of, the Earnest Money.
4. Closing. Subject to the terms and conditions of this Agre ment, the transaction contemplated
herein(the"Transaction")shall be closed on or before March 21, 2005, with the exact date of closing (the
"Closing Date")to occur on a date mutually acceptable to Purchaser and Seller. The closing shall take
place either at the office of the Title Insurer, or at such other place ai; Purchaser and Seller mutually may
agree. Purchaser shall pay; (a) the Purchase Price to Seller at the closing in cash or by wire transfer,
reduced by:(i)the Earnest Money;and(ii)any reductions,credits,or prorations for which this Agreement
provides;and (b) 1/of the closing fee charged by the Title insurer in connection with the closing. Seller
shall deliver possession of the Property to Purchaser on the Expiration Date(as defined in Section 5),free
and clear of all rights and claims of any other party to the possession,use, or occupancy of the Property;
provided that, during the period between the Closing Date and the Expiration Date, Sellers occupancy
of the Property shall be subject to the terms of the Occupancy License (as defined in Section 5),
Occupancy, Seller shall have a license (the "Occupancy;License"), to retain occupancy of the
Property for a term that commences on the Closing Date and expires on the date,thatis 30 days after the
Execution Date (the"Expiration Date"), subject to the following terms and conditidf s:a
(a) Maintenance. During the Occupancy Term,Seller,at Its expense,shali:, ;
(i)maintain .,. A;
the Property in a good, clean, sightly, and safe condition that complies witha(I'applieable
federal,state,and local laws,statutes,ordinances,and governmental rules,regulations,apd \` \
orders affecting the Property or the buildings or improvements located thereon,(that'Laws");
(Ii)maintain an adequate policy of liability insurance with respect to the Property;which policy
shall name Purchaser and its designees as additional ineyreds; and (iii) pay all utility
other charges with respect to the Property, so that such occupancy by Seller isycomptetely •
and absolutely without expense to Purchaser. tf i
(b) Serrender, on the Expiration Date,Seller shall surrender the Property to Purchaser;
provided that, before the Expiration Date, Seller: (i) may remove from the Property all
equipment,machinery,fixtures,supplies,and tools located on or in the Property;and(ii)shall
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remove from the Property all furnishings, appliances, and other items of personal property.
Seller agrees that; (i) all equipment, machinery, fixtures, supplies, tools, furnishings,
appliances, or other items of personal property remaining In or on the Property after the
Expiration Date shall be deemed to belong to Purchaser; and (ii)Purchaser may dispose of
the foregoing as it deems to be appropriate.
(c) Deliveries. On the Expiration Date,Seller shall deliver to Purchaser:(i)a certification
that Seller has; (A) cancelled or terminated all maintenance, service, and management
contracts or agreements relating to the Property(the"Maintenance Contracts"); (B)paid all
amounts due under,and settled all accounts with respect to,the Maintenance Contracts(the
"Contract Accounts"); (C)paid all charges for utility services used or consumed through the
Expiration Date with respect to the Property (including, Without limitation, all charges for
whole or partial billing periods that have not yet been billed) (the "Utility Charges"); and
(0) paid other accounts payable and expenses with respect to the Property(the"Accounts
Payable"); (ii)an indemnification of Purchaser from and against any and all claims,actions,
liabilities,losses,damages,injuries,costs,and expenses arising under or in connection with:
(A) the Maintenance Contracts; (B)the payment and settlement of the Contract Accounts,
the Utility Charges, and the Accounts Payable; or(C)the occupancy, possession, use, and
control of the Property by Seller prior to the Expiration Date; and (iii) all of Seller's keys,
cards, and combinations to all locks and security devices on or in the Parcel and/or the
Improvements.
(d) Breach, If Seller breaches its obligations under the Occupancy License, then
Purchaser may exercise any remedy available at law or in equity(including,without limitation,
curing the breach for the account of Seller,obtaining injunctive relief or the remedy of specific
performance, or terminating the Occupancy License).
6, Seller Closing Documents. At the closing, Seller shall execute (to the extent applicable) and
deliver to Purchaser;
(a) a general warranty deed in the form attached hereto as Exhibit B-1, conveying
to Purchaser marketable, indefeasible fee simple title to the Parcel and the
Improvements, free and clear of any and all liens, encumbrances, easements,
restrictions,covenants,and other title defects, except the lien of current real estate taxes
and assessments not delinquent and the other matters accepted by Purchaser in writing
(collectively, the "Permitted Exceptions");
(b) a vendor's affidavit in the form attached hereto as Exhibit 13-2;
(c) an affidavit that Seller is not a "foreign person", in the form attached hereto as
Exhibit B-3;
(d) an affidavit that the Parcel is not "property" under the Indiana Responsible
Property Transfer Law, as amended, In the form attached hereto as Exhibit B-4;
(e) a bill of sale with full warranties of title transferring to Purchaser the equipment,
machinery,fixtures,supplies,and tools that Seller has not removed from the Property,in the
form attached hereto as Exhibit B-5;
(f) a certification that all of the representations and Warranties set forth in Section 10
remain true and accurate in all respects as of the Closing Date, in the form attached
hereto as Exhibit B-6;
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(g) an owner's policy of title insurance that conforms to the requirements of
Subsection 8(d) (the "Owner's Policy"); provided that, if: (i) prior to the Closing Date,
Seller provides to Purchaser a bona fide quote from Morgan&Associates for the Owner's
Policy(the"Quote"); and (ii) pursuant to the Quote,the premium for the Owner's Policy
is less than the premium being charged by the Title Insurer for the Owner's Policy;then:
(I) Seller shall be obligated to pay only so much of the premium charged by the Title
Insurer as would have been charged by Morgan&Associates pursuant to the Quote;and
(ii) CRC shall pay the remaining amount of the premium charged by the Title Insurer.
(h) evidence as Purchaser or the Title Insurer reasonably may request,establishing
the authority of the persons executing and delivering the foregoing documents; and
(i) such other customary documents or instruments as Purchaser or the Title Insurer
may request in connection with closing the Transaction.
7, Taxes, Purchaser assumes and agrees to pay: (a) all general and special governmental and
utility assessments(the"Assessments")becoming a lien against the Property after the Closing Date;and
(b) so much of the real estate taxes assessed for and first becoming a lien against the Property during
the year in which closing occurs(the"Current Year Taxes")as shall be allocable to Purchaser by proration
(based upon the number of days remaining in the year in which closing occurs after the Closing Date).
Seller shall pay: (a) all Assessments becoming a lien against the Property prior to the Closing Date, and
any other assessments of any nature that have been allocated to or charged against,or that have become
a lien upon, the Property; (b) both installments of real estate taxes payable during the year in which
closing occurs; and (c) so much of the Current Year Taxes as shall be allocable to Seller by proration
(based upon the number of days in year in which closing occurs prior to and including the Closing Date).
If the applicable tax rate has not been set,then the current tax rate shall be used for the purposes of such
prorations. Any taxes or assessments that are not: (a) assumed by Purchaser;and (b) due and payable
at the time of closing;shall be allowed to Purchaser as a credit against the Purchase Price at closing,and
Seller shall not be liable further for such taxes and assessments.
8. Conditions of Performance, The obligations of Purchaser under this Agreement are subject to
the satisfaction of the following conditions: (a)on or before March 21, 2005(the"Due Diligence Period");
or(b) within such other period as is set forth in this Section; unless waived in writing by Purchaser.
(a) Property Information. Within five days after the execution Date, Seller shall
provide to Purchaser full and complete copies of: (i) all reports and results of surveys,
borings, soil, water and engineering tests, and other tests, inspections, examinations,
studies, and investigations conducted by or for, or in the possession of, Seller, its
affiliates,or its property manager with respect to the Property;and(ii)documentation with
respect to remediation, removal, encapsulation, or abatement of: (A) any hazardous
waste, material, or substance (including, without limitation, asbestos); or (B) any
underground storage tank; on, in, under or from the Parcel, the Improvements, any part
thereof, or any groundwater thereunder(the "Prior Abatement").
(b) Survey, Purchaser, at its expense, shall have obtained a survey of the Parcel (the
"Survey") that: (i)describes the perimeter of the Parcel as a single parcel (or two adjoining
parcels)without gaps, gores,or overlaps; (il)is certified as of a current date; (iii)shows that;
(A)no encroachments exist;and(B)all improvements are located entirely within the bounds
of the Parcel; (iv) shows no condition that might prevent or impair Purchaser's intended
redevelopment of the Parcel(the"Intended Redevelopment");and(v)establishes that no part
of the Parcel Is located within:(A)a"flood hazard zone",as shown on the applicable Federal
insurance Rate Map; or (B)a"floodway"or"flood plain", as shown on the applicable Flood
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Control District Map, The Survey shall establish the precise legal description of the Parcel
for purposes of title insurance and closing documents,
(c) Title Receipt. Title Receipt. Within 30 clays after the Execution Date, Seller, at
its expense, shall have provided to Purchaser a title insurance commitment for the
Property issued by the Title Insurer(the "Commitment").
(d) Title Review. Purchaser shall have determined that the Title Insurer shall;(i)insure,
for the full amount of the Purchase Price, marketable, indefeasible fee simple title to the
Property in the name of Purchaser, free of the standard exceptions and all other
exceptions except the Permitted Exceptions;and(ii)issue such customary endorsements
(including,without limitation, a contiguity endorsement)as Purchaser reasonably deems
to be necessary or appropriate.
(e) Environmental Assessment,Purchaser,at its expense,shall have obtained a Phase
One Environmental Assessment of the Parcel and the Improvements and,if required by the
Phase One Environmental Assessment, a Phase Two Environmental Assessment thereof.
(f) Environmental Condition. Purchaser shall have determined that: (i)there is not
now, and there has not been, any contamination or pollution of the Parcel, the
Improvements,any part thereof,or any groundwaterthereunderby any hazardous waste,
material, or substance; (ii)there is not now, and there have not been, any underground
storage tanks located on, in, or under the Parcel or the Improvements; (iii) there is no
asbestos on or in the Parcel or the Improvements that requires removal, encapsulation,
or abatement for Purchaser's intended use of the Property (the "Intended Use"); and
(iv) any Prior Abatement was completed properly, and in compliance with all Laws.
(g) Physical Condition. Purchaser,at its expense,shall have determined that:(I)the
Property is satisfactory for the Intended Use; and (ii) the Parcel enjoys rights of direct
access to and from public streets adequate for the Intended Use.
(h) Other Conditions. As of the Closing Date, no action or proceeding before a court
or other governmental agency or officer shall be pending, and no such action or
proceeding shall be threatened,that might impair the value of the Property or prevent or
impair the use or operation by Purchaser of the Property, There shall be no breach of
this Agreement by Seller, and, as of the Closing Date, all of the representations and
warranties set forth in Section 10 shall be true and accurate in all respects.
If one or more of the conditions set forth in this Section is not (or cannot be) timely and completely
satisfied,then Purchaser,at its sole option,may cancel this Agreement and all of its obligations hereunder
by a written notice to Seller,in which event all Earnest Money shall be refunded to Purchaser Immediately.
9. Inspection. Purchaser and its agents, employees, and contractors shall have the right to enter
upon the Parcel and the Improvements at reasonable times to conduct all surveys, borings, tests,
inspections, examinations, studies, and investigations as Purchaser deems to be necessary or
appropriate(the"Physical Inspections"). Purchaser promptly shall repair any damage to the Parcel or the
Improvements resulting from the Physical Inspections,
10. Representations. Seller hereby represents and warrants to Purchaser that:
(a) after the Execution Date, Seller shall not permit any lien or other encumbrance
to attach to or affect the Property, except for the lien of current real estate taxes and
assessments;
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(b) after the Execution Date, Seller shall not enter into, modify, amend, or terminate
any easement or other document, Instrument, or agreement affecting or concerning the
Property or the interest of Seller therein, except for cancellation and termination of the
Maintenance Contracts;
(c) there are no violations of any Laws affecting the Property (and no fact or
circumstance exists that might give rise to such a violation);
(d) after the Execution Date, Seller shall maintain the Property: (I) in safe and good
order, condition, and repair, normal wear and tear excepted; and (Ii) in compliance with
all Laws so that, as of the Closing Date, there are no violations thereof;
(e) to the best of Seller's knowledge, there is not now, and there has not been, any
contamination or pollution of the Parcel, the Improvements, any part thereof, or of any
groundwater thereunder, by any hazardous waste, material, or substance in violation of
any Laws;
(f) to the best of Seller's knowledge, there are net now, and there have not been,
any underground storage tanks on, in, or under the Parcel or the Improvements; and
(g) to the best of Seller's knowledge, there is not now, and there has not been any
asbestos on or in the Parcel or the improvements.
11. Risk of Loss. It (a) the Property, or any part thereof, is damaged or destroyed by fire or other
casualty, then Purchaser, at its sole option, may terminate this Agreement or proceed with closing. If
Purchaser elects to terminate this Agreement, then all Earnest Money immediately shall be refunded to
Purchaser. If Purchaser elects to proceed with closing, then Purchaser may apply the proceeds of any
insurance policy to reduce the Purchase Price.
12, Notices. All notices permitted or required to be given hereunder shall be in writing, and shall be
deemed to be delivered when: (a)delivered personally; (b)sent byfaesimile,with electronic confirmation of
receipt;or(c)sent by national overnight courier; in all events to the following addresses; to Purchaser at City
of Carmel,Indiana,One Civic Square,Carmel, Indiana 46032, Facsimile:317-844-3498,Attn: Les Olds,with
a copy to;Karl P.Haas,Esq.,WailackSomers&Haas,One Indiana Square,Suite 1500, Indianapolis,Indiana
46204,Facsimile:317-231,9900;or(b)to Seller at
Either party may change its address for notice by written notice delivered to the other party as provided above.
13. Specific Performance. Seller agrees that; (a) money damages are not an adequate remedy for
breach of this Agreement by Seller; and (b) in addition to any other remedies available to Purchaser in
the event of a breach by Seller, Purchaser shall be entitled to: (i)the remedy of specific performance to
enforce the terms and conditions of this Agreement; or(ii) cure the breach at the expense of Seller. If:
(a)Seller breaches this Agreement;and(b) Purchaser does not elect the remedy of specific performance
or to cure the breach at the expense of Seller; then Purchaser may terminate this Agreement, in which
case all Earnest Money immediately shall be refunded to Purchaser.
14, Brokers. Purchaser and Seller hereby represent,warrant,and agree that:(a)they have not dealt
with any broker in connection with the Transaction; and (b) no fee, commission, or similar compensation
shall be payable by Purchaser or Seller to any broker, person, or entity as a result of any agreement or
action by Seller or Purchaser.
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15. Authority, Each of the undersigned persons executing this Agreement on behalf of Purchaser and
Seller represents and certifies that he or she Is fully empowered and duly authorized by all necessary action
of Purchaser and Seller, respectively, to execute and deliver this Agreement,
16. Successors, Purchaser shall not assign this Agreement without the prior written consent of Seller,
which consent shall not be withheld unreasonably:provided that Purchaser may assign this Agreement to any
agency or instrumentality of the City of Carmel, Indiana, without the consent of Seller. This Agreement
otherwise shall be binding upon. and inure to the benefit of Purchaser and Seller, and their respective
successors and assigns.
17. Miscellaneous. The terms and conditions of this Agreement shall be governed by,and construed
in accordance with,the laws of the State of Indiana. The section headings shall not be considered in any
way to affect the interpretation of this Agreement. All Exhibits referenced in'this Agreement are attached
hereto and incorporated herein by reference. This Agreement is the final expression of the complete and
exclusive agreement between Purchaser and Seller. No agreement by and between Purchaser and Seller
to modify or amend this Agreement shall be binding and enforceable, unless all terms and provisions of
the modification or amendment are set forth in writing and signed by Purchaser and Seller, All
representations, warranties, and agreements contained in this Agreement shall survive the closing, and
Purchaser and Seller each shall indemnify and hold harmless the other from and against any and all
claims, actions, liabilities, losses, damages, Injuries, costs, and expenses (including, without limitation,
attorneys' fees and court costs) incurred as a result of, or in connection with, any breach of any
representation, warranty, or agreement contained in this Agreement.
IN WITNESS WHEREOF, Purchaser and Seller have executed this Agreement as of the
day and year first written above.
PURCHASER:
THE CITY OF CARMEL
EDEV • ∎ ENT ION► + ►�,/
By:-
P nted: - ice,' :d T #4
Title ‘61 ;(
SELLER:/�
5y: (�
William 'Po eman
ey:
arcia A. Foreman
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A. U.S. Department of Housing B.Type of Loan
and Urban Development 1.[ )FHA 2.[ 1 FMHA 3.[ 3 Cony.Unins.
4.[ )VA 5.[ j Cony.Ins.
6.File Number 7.Loan Number
2050947
Settlement Statement 8.Mortgage ins.Case No.
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("POC")were paid outside the closing: they are shown here for information
purposes and are not included in the totals.
-
D.Name of Borrower: City of Carmel Redevelopment Commission
E.Name of Seller: William A,Foreman TIN:
Marcia A. Foreman TIN:
F.Name of Lender:
G.Property Location: Lot 1,Davis&Bales; Lot 2,Davis&Bales
40 First Avenue Southeast,Carmel, IN 46032
H.Settlement Agent: Hamilton Title Security,LLC(317)843-5300 TIN: 35-2033417
Place of Settlement: 865 West Carmel Drive,Suite 110,Carmel,IN 46032
I.Settlement Date: 3/21/2005 Proration Date: 3/21/2005
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 230,000.00 401. Contract sales price 230,001100
102. Personal property 402. Personal property
103. Settlement charges to borrower(line 1400) 495.50 403.
104. 404.
105. 405.
Adjustments for items paid by seller in advance: Adjustments for items paid by seller in advance:
106. City/town taxes 406. City/town taxes
107. County taxes 407. County taxes
108. Assessments 408. Assessments
109. 409-
110. 410. _
111. 411.
112. 412. _
120. Gross amount due from borrower: 230,495.50 420. Gross amount due to seller: 230,000.00
200. Amounts paid by or in behalf of the borrower: 500. Reduction in amount due to seller:
201. Deposit or earnest money 501. Excess deposit(see instructions)
202. Principal amount of new loan(s) 502. Settlement charges to seller(line 1400) 1,320.59
203. Existing loan(s)taken subject to 503. Existing loan(s)taken subject to
204. 504. Payoff of fist 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 items unpaid by seller:
210. City/town taxes 510. City/town taxes _
211. County taxes 1/1/2004 to 3/21/2005 68992 511. County taxes 1/1/2004 to 3/21/2005 689.92
212. Assessments 512. Assessments
213. 513.
214. 514.
215. 515.
216. 516.
217. 517.
218. 518.
219. 519.
220. Total paid by/for borrower: 689.92 520. Total reduction in amount due seller: 2,010 51
300. Cash at settlement from/to borrower: 600. Cash at settlement to/from seller:
L. Settlement Chars es 3/21/05 2:24 PM File Number:2050947
700. Total sales/broker commission Paid From Paid From
Division of commission(line 700)as follows: Borrower's Seller's
701. $ Funds at Funds at
702. $ Settlement Settlement
703. Commission paid at settlement
704.
800. Items payable in connection with loan
801. Loan origination fee
B02. Loan discount
803. Appraisal fee
804, Credit report
805. Lender's inspection fee
806. Mortgage insurance application fee
807. Assumption fee
808. Tax Service Fee
809. Flood Certification
810.
811.
812.
900. Items required by lender to be paid in advance
901. Interest from
902. Mortgage insurance premium for
903. Hazard insurance premium for
904.
905.
1000. Reserves deposited with lender
1001. Hazard insurance
1002. Mortgage insurance
1003. City property taxes
1004. County property taxes
1005. Annual assessments(maint.)
1006.
1007.
1009. Aggregate Accounting Adjustment
1100. Title charges
1101. Settlement or closing fee to Hamilton Title Security,LLC 175.00 175.00
1102. Abstract or title search
1103. Title examination
1104. Title insurance binder
1105. Document preparation
1106. Notary fees
1107. Attorney's fees to
includes above items no.:
1108. Title insurance to Hamilton Title Security,LLC 293.50 284.00
includes above items no.:
1109. Lender's coverage
1110. Owner's coverage $230,000.00 $577.50
1111. Courier Fee
1112.
1113.
1200. Government recording and transfer charges
1201. Recording fees: Deed$16.00 16.00
1202. City/county taxfstamps:
1203. State taxlstamps:
1204, Sales Disclosure Filing Fee to Auditor of Hamilton County 10.00
1205. Transfer Fee to Auditor of Hamilton County 1.00
1206,
1300. Additional settlement charges
1301, Survey
ALTA Commitment- Schedule B Stewart Title Guaranty Company
COMMITMENT FOR TITLE INSURANCE
Commitment No.: 2050947
•
SCHEDULE B - Section Il
Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the
same arc disposed of to the satisfaction of the Company.
St ndard Exceptions:
c.:i.l. 1. Defects,liens,encumbrances,adverse claims,or other matters,if any;created,first appearing in the public records or
attaching subsequent to the effective date hereof but prior to the date the proposed Insured acquires for value of record the
estate or interest or mortgage thereon covered by this Commitment.
ights or claims of parties in possession not shown by the public records.
Easements,or claims of easements,not shown by the public records.
4. Encroachments, overlaps, boundary line disputes, or other matters which would be disclosed by an accurate survey and
inspection of the premises.
Any lien, or right to a lien,for services, labor, or material heretofore or hereafter furnished. imposed by law and not shown
by the public records.
6. Taxes or special assessments which are not shown as existing liens by the public records.
Special Exceptions:
7. 'faxes for the year 2003 payable 2004 in the name of Foreman, William E. & Marcia A.
Brief Legal: Lot 1 Davis & Bales
Taxinu Unit: City of Carmel Parcel No.: 16-10-30-03-01-008.000
1St installment: S20.96 paid
2" installment: $-0-
Assessed valuation as of effective date (for information only:)
Land: S1,400 Improvements: S-0- Exemptions: $-0-
8. Taxes for the year 2003 payable 2004 in the name of Foreman, William E. & Marcia A.
Brief Legal: Lot 2 Davis & Bales
Taxing Unit: City of Carmel Parcel No.: 16-10-30-03-01-007.000
1 S t installment: . 9 • • • • I • ,. • I • tlttr-- � '
�j d
2" installment: ,- . • •e inquen wi • ...: e • 1 . -due
Assessed valuation as of effective date (for information only:)
Land: $18,300 Improvements: $16,800 Exemptions: $-0-
9, DELINQUENT TAXES for prior years in the a nt of$218.08 plus $65.43 penalty for
Parcel No. 16-10-30-03-01-007.000. �a 'Iv%
10.ft,
� el,
ALTA Commitment - Schedule B Stewart Title Guaranty Company
COMMITMENT FOR TITLE INSURANCE
Commitment No.: 2050947
10. Taxes for N,4, payable 20 , and 2 5, payable 2006, nol yet due and payable.
NOTE: The real estate tax information set out above is all that is currently available in Hamilton
sZt142k,
County Tax computer. Recent computer program changes may have rendered incomplete or
inaccurate the available data. THIS INFORMATION MAY NOT BE SUFFICIENT FOR THE
PURPOSE OF ESTABLISHING A PROPER REAL ESTATE TAX ESCROW. Neither the
Company nor its agent, Hamilton Title Security, LLC, assume or accept any responsibility for
loss, damage, cost or expense due to, or arising out of, the present unavailability, or accuracy of
tax information.
Possible municipal assessments, sewer use charges, and/or impact fees levied by City of Carmel.
Easements for drainage ditches and tile drains.
Mortgage for S237,500.00 from William E. Foreman and Marcia A. Foreman to First National
4 4
ank, Kokomo, Indiana, dated January 16, 1998, and reccrdcd January_ 21, 1998, as Instrument
98-03064 the Office of the Recorder of Hamilton County, Indiana.
15. Subject to a judgment search against the proposed insured.
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