Closing Documents 1997 CLOSING MEMORANDUM
TO: Mayor Brainard, Members of the Board of Public Works and Safety,
Members of the Common Council, M. Kate Boyle, P.E., Clerk-Treasurer
Diana L. Cordray
FROM: Debra Grisham
DATE: June 19, 1997�1
RE: Closing on the purchase of the undeveloped parcel of real property located
to the north of the Carmel Police Headquarters, east of the Carmel Fire
Department Headquarters, south of 930 South Rangeline Road, and west of
Rangeline Road, comprising approximately .77 acres.
SELLER: Harrigan Enterprises, Inc.
PURCHASER: City of Carmel, Indiana
PURCHASE PRICE: $250,000.00
CLOSING DATE: June 17, 1997
DISBURSEMENTS: See attached Closing Statement
REAL ESTATE
TAXES: See attached Closing Statement
A. U.S.DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT U.TYPE OF LOAN
1. [ 3F114 2. [ ]FMHA 3. 1 ]CONV. UNINS.
'See HUD attachment(s) for "' items 4. [ ]VA 5. 1 ]CONY. INS.
6. FILE NUMBER: 7. LOAN NUMBER:
97291164
8. MTG. 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
('p:o.c.')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
',ADDRESS:
E. NAME OF SELLER: HARRIGAN ENTERPRISES, INC.
'ADDRESS: SELLER TIN:
F. NAME OF LENDER:
ADDRESS:
G.PROPERTY- LOCATION: PT NE 36-18-3, TRACT 613
H. SETTLEMENT AGENT: MORGAN B ASSOCIATES, INC.
.ADDRESS: 234 E. CARMEL DRIVE
CARMEL, IN 46032 SETTLEMENT AGENT TIN: 35-0832636
PLACE OF SETTLEMENT: MORGAN 8 ASSOCIATES, INC. I.SETTLEMENT DATE
.ADDRESS: 234 E. CARMEL DRIVE Closing date: 06/17/97
CARMEL, IN 46032 Proration date: 06/17/97
S. 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 250,000.00 401. Contract sales price 250,000.00
102. Personal pmp'edp 402. Personal property
103.Settlement charges to horrower(linc 1400) _ 592.00 403.
104. 404.
{O6. 405.
Adjustments for items paid by seller in advance: Adjustments for items paid for seller in advance:
106.City/town taxes. 10 406.City/town faxes 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: 250,592.00 420. GROSS AMOUNT DUE TO SELLER: 250,000.00
200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER: 500. REDACTIONS IN AMOUNT DUE TO SELLER:
201.Deposit or eamfst money 501.Excess deposit(see instructions)
202. Principal annum of new lonn(s) _ 502. Settlement charges to seller(line 1400) 15,593.00
203. Existing loan(s)taken_ulr'eet to _ _503. Existing lonn(s)token subject to
204 504. Pa off of first mortgage loan
205. 505. Payoff of second:nni1 a loan
206. NOVEMBER 1997 TAXES 470.49 506. NOVEMBER 1997 TAXES 470.49
207. 1997-98 PRORATED TAXES 433.44 507. 1997-98 PRORATED TAXES 433.44
208. • 508.
209. 509.
Adjustments for items unpaid by seller: Adjust me nis for items unpaid by seller:
210. City/town saxes 10 510. City/town taxes to
211. County taxes In 511.Comity Inxes to
212. Assessments' . 10 512. Assessments to
213. 513.
214. 514.
215, 515.
216. 516.
217. 517.
218. 518.•
219. 519.
220.TOTAL PAID ME/FOR BORROWER: 520.TOTAL REDUCTION IN AMOUNT:
903.93 I 16,496.93
301.CASH AT SETTLEMENT MN/AVM III 61)0. CASH AT SETTLEMENT Tf:/PROM SELLER:
301.Gross amount die from borrower(line 120) 250,592.00 601.Gross amount due to scllcr(linc 420) 250,000.00
302. Less amounts paid by/for borrower(line 220) 903.93 602. Less total reductions in amount due'seller(ine 520) 16,496.93
303. CASH [X FROM( I Tell BORROWER: 249,688.07 603. CASH IX TOI I FROM)SELLER: 233,503.07
SUBSTITUTE FORM:1099 SELLER STATEMENT-The information contained in Blocks E,G,II and I and on line 401 (or, if line 401 is asterisked,lines 403 and 404)
is important tax information and is being furnished to the Internal Revenue Service. If you are required to file a return, a negligence penalty or other sanction will
he imposed on you if tins item is required to he reported and the IRS determines that it has not been reported.
SELLER INSTRUCTION-If This real estate was your principal residence, file Forms 2119,Sale or Exchange of Principal Residence, for any gain,wilh your income lax
return; for other transactions,complete the applicable parts of Form 4797, Form 6252 and/or Schedule D(Form 1040).
You are required by law to provide Morgan and Associates with your correct taxpayer identification number.
If you do not provide Morgan and Associates with your correct taxpayer identification number, you may he subject to civil or criminal penalties.
Under penalties of perjury, [eel fy that the number shown on this sttnnt�ten:eut is my correct taxpayer identification number.
rr
Seller Cvlsr� Mnh"e?�iu....�-sj. cr
Ii1 es 97291164 1 .attachment(s) for "' items PAID FROM PAID FROM
a L. SETTLEMENT CHAT( IS BORROWER'S SELLER'S
•
FUNDS FUNDS
700.TOTAL SALES/BROKER'S COMMISION Based on$ 250,000.00 @ 6.00 %= 15,000.00 AT SETTLEMENT AT SETTLEMENT
Division of Commission(line 700)as follows:
701.515,000.00 . to MERIDIAN REAL ESTATE SERVICES
702. $ to
703.Commission paid at settlement 15,000.00
704.
800. ITEMS PAYABLE IN CONNECTION WITH LOAN.
801. Loan Origination fee
802. Loan Discount' %K
803. Appraisal fee to
804.Credit Repoit to
805. Lender's inspection fee to
806.Mortgage Insurance application fee to
807. Assumption Fee to
809. to
809. to
810. to
811. to
812. to
900.ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE.
901. Interest from to @$ /day
902.Mortgage insurance premium for nn.to
903. Havant insurance premium for yes.to
s. I
904. Y._.-_n
905.
1000. RESERVFS'DEPOSITED Wffll LENDER
1001. Hazard Insurance nos,@$ per me.
1002.Mortgage insurance mo per too.
1003.City property taxes sun_@$ per 1110.
1004.County pmpedY faxes sun.@S per mo.
1005. Annual assessments(Maim.) sun.@$ per mo.
1006. nus.(LD$ per mo.
1(817.
ns,05 per mo.
1008. Aggregate Analysis Adjustment
1009.
1100.TITLE CHARGES:
1101.Settlement or closing fee to MORGAN 8 ASSOCIATES, INC. 400.00
1102. Abstract or lisle search to
1103.Title examination to
1104.Title insurance hinder to
1105. Document preparation to MORGAN & ASSOCIATES, INC. 135.00.
1106. Notary fee . to
1107. Attorney's fee to to
(includes above items No.:
1108.Title insurance to MORGAN & ASSOCIATES, INC. 593.0
(includes above items No.:
1109. Lender's coverage $
1110. Owner's cnverege 250,000.00 $ 593.00
1111. In ---
1112. is
1113. COPIES to MORGAN 8 ASSOCIATES, INC. 27.00
1114. to ----
1200.GOVERNMENT RECORDING AND TRANSFER CHARGES
1201.Recording fees: Deed$ 25.00 Mug S Rel. $ 25.00
1202.City/county tai/stamps: Deed$ Mng$ -
1203.Slate tax/stamps: Deed $ Mrig$
1204. to
1205. to
• 1206. SALES DISCLOSURE to HAMILTON COUNTY AUDITOR 5.00
1300. ADDITIONAL SETTLEMENT CHARGES
1301.Survey to
1302. Pest inspection to
1303. to
1304. to
1305. _--to
1400.TOTAL SETTLEMENT CHAR (entered an lines 103,Section 1 and 502,Section K) 592.00 15,593.(
CERTIFICATION: I have carefully rev ed the 1111D-I Settlement Statement and to the hest of my knowledge and belief, it is a true and accurate statement of all
receipts and di urs nients m de on'sty n-count or by me in this transaction. I further certify that I have received a copy of IIUD-I Settlement Statement.
Darrowers Sellers
Wiz.:
T1se HUD-1 Settlement Statement wine s 1 hnv sreparc s n Ina and accurate iceuunt of Otis transaction. I hnvd caused or will cause the funds to he disbursed in
accordance wills this I I c I. ^�/7
Wan Settlement Agent Dale �if 11-L/
WARNING: It is a cringe to knowingly make false statements to the United Slates on this or any other similar form. Penalties upon conviction can include a line and
imprisonment. For details see: Title 18: U.S.Code Section 1001 and Section 1010.
. . .
.-; DATA RESOURCES INC. 317/787-2977; _
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