HomeMy WebLinkAbout16- North Park Sale Closing Documents 08-23-16 City of Bozeman
TBD Forth Park
Bozeman, MT 59715
Closing Date: 8/23/2016
Escrow Officer: Kris Reason
e Appreciate Your Business!
CLOSING INSTRUCTIONS TO SECURITY TITLE COMPANY OF MONTANA
DATE: 8/23/2016 CLOSING OFFICER: Kris Deason
FILE: G140369
SELLER: City of Bozeman
BUYER:North Park Development Partners,LLC
The Seller and Buyer listed hereinabove, employ SECURITY TITLE COMPANY, a Montana
Corporation to act as Closing Agent in connection with a sale by Seller to Buyer based upon the terms
and conditions to follow herein.
The property herein referred to is situated in Gallatin County, Montana, and is described as follows to wit:
Tracts 1-A,2-A,3-A and 4-A of Certificate of Survey No.2153,situated in the IOW 1/4 of
Section 36,Township 1 South,Range 5 East,P.M.M., Gallatin County,Montana,according
to the official plat thereof on file and of record in the office of the County,Clerk and
Recorder, Gallatin County,Montana.
The transaction to which the Seller and Buyer have entered into is controlled by an Earnest Money Receipt
and Agreement to Sell and Purchase or similar contractual document dated: January 27,2014
SECURITY TITLE COMPANY is hereby instructed to carry forth the terms of said agreement which is
more specifically set forth here below:
GENERAL INSTRUCTIONS:
1. The Total Sales Price to be paid by Buyer is: $ 1,655,000.00
2. Earnest Money has been collected from the
Buyer in the amount of: $ 20,000.00
The earnest money is currently in the
possession of: Security Title Company
3. The Closing fee charged by closing agent is
To be paid by: 1/2 Buyer and 1/2 Seller
4. Title Insurance fees are to be paid as follows:
Seller: Owner's Title Insurance
5. The recording fees are to be paid as follows:
Buyer: To transfer title
6. The Real Estate Commission is to be paid
By: Seller
To: Energy Real Estate Solutions,LLC
7. Date of Proration shall be: 8/23/2016
The Following are to be prorated:
a) 2016 Gallatin County real property taxes
b) 2016/17 City of Bozeman special assessments
Note:Prorations are final at the time of closing.
8. Buyer and Seller acknowledge receipt of a copy of the Preliminary Commitment for Title
Insurance, G140369. The closing agent shall cause the following exceptions as set forth in said
commitment to be cleared from the public record:
None
9. The parties also acknowledge that Security Title Company is not responsible for the transfer or
reservation of any water, or water rights.
10. The Seller hereby guarantees to Security Title Company that there are no other liens and
encumbrances or other debts against the subject property other than those disclosed in the
Preliminary Commitment for Title Insurance,G140369,to which the Seller has knowledge.
11. The closing agent shall disburse all monies received in a timely manner after all documents have
been properly executed;recorded and all closing costs are paid in full. The disbursement of
monies is to be shown on a separate disbursement schedule prepared by the closing agent in
regards to this transaction.
12. The closing agent reserves the right to amend the disbursement schedule to reflect any changes in
payoff figures,prorations,etc.should the actual date of disbursement be other than anticipated.
SPECIAL INSTRUCTIONS:
NOTE: SECURITY TITLE COMPANY,assumes no responsibility or liability for the condition of the
subject real property at the time of closing nor does SECURITY TITLE COMPANY,guarantee the
condition or existence of any furniture,fixtures, appliances or improvements to the property which is
being transferred by this sale. Sellers and Buyers hereby acknowledge that all contingencies and
conditions of the Buy/Sell Agreement and any Addendums, thereto, have been either satisfied or
negotiated outside of closing.
SELLER:
City of Bozeman
By: Carson Taylor,Mayor
BUYER:
North Park Development Partners,LLC
By:
North Park Williams,LLC,TCember Micropolitan Leaseholdings,LLC,Member
CL k I/
By: Quin K.Williams,Member : Clayton R. Schubert,Member
Buyer's Mailing Seller's Mailing
Address After Closing: Address After Closing:
(Correspondence to be sent to) (Correspondence to be sent to)
Qo Roc �� 5 a
513771
Sect TT '
Serving Gallatin,Madison and Park Counties
SELLER'S CLOSING STATEMENT
Escrow Number: G140369 Title Order Number: G140369
Escrow Officer: Kris Deason Date: 08/23/2016
Closing Date: 08/23/2016
Disbursement Date: 08/23/2016
Buyer/Borrower: North Park Development Partners,LLC
Seller: City of Bozeman
Property: TBD North Park, Bozeman,MT 59715
DESCRIPTION DEBITS CREDITS
TOTAL CONSIDERATION 1,655,000.00
PRORATIONS/ADJUSTMENTS:
2016 Taxes 6.60 per 12 months 1/01/2016 to 8/23/2016 4.25
2016/17 City Assmt. 1,445.52 per 12 months 7/01/2016 to 8/23/2016 209.90
COMMISSIONS :
Listing Broker: Energy Real Estate Solutions,LLC 33,100.00
Selling Broker:NAI Landmark 49,650.00
TITLE CHARGES
Owner's Premium for 1,655,000.00: Security Title Company Of Montana Owner's Premium 3,541.75
ESCROW CHARGES TO: Security Title Company Of Montana
Escrow Fee 125.00
ADDITIONAL DISBURSEMENTS:
Water Right Transfer Fee: DNRC 50.00
BALANCE DUE YOU 1,568,319.10
,TOTALS 1 1,655,000.00 1,655,000.00
City of Bozeman
qj�" �>
Carson Taylor, Mayor
INSTRUCTIONS FOR NET PROCEEDS
Date: August 23,2016 File Number: G140369
TO: Security Title Company Of Montana
I hereby authorize and direct Security Title Company Of Montana to disburse my net proceeds as follows:
(Check the applicable section)
1. Hold the proceeds check for pick up and call when check is ready at the following number:
2. 1 authorized the proceeds check to be picked up by:
3. 1 instruct you to deposit the proceeds into a local bank(deposit slip must be provided).Funds will be
deposited next business day unless otherwise stated by Security Title Company.
4. X I instruct Security Title Company Of Montana to wire out proceeds to(wire fee will be deducted
from proceeds): Wires will be sent next business day unless otherwise stated by Security Title
Company.
Bank Name: US Bank(attached)
Address:
ABA#: Account#:
Account Name:
Further Credit To:
5. Overnight proceeds to the following address(courier fee will be deducted from proceeds)
Name
Address:
Leave Package At Door Signature Required
6. Split proceeds as follows: (Please indicate names, amounts or percentages)
7. I instruct you to mail out proceeds to the following address:
City of Bozeman
By: Carson Taylor,Mayor
Wiring Instructions
for.-
City of Bozeman
US Bank
SWIFT Code: USBKUS441MT
Routing #m 092900383
Account #0 150095736248
City of Bozeman Operating Account
Bank Contact; Kim Spiroff
Contact Phone 406-447-5251
SELLER OR BORROWER AFFIDAVIT AND INDEMNITY
This document must be completed in its entirety. Failure to do so may create a
delay in closing. Please do not hesitate to contact our office if you are unsure of how
to complete the document.
Subject Property:
Tracts 1-A,2-A,3-A and 4-A of Certificate of Survey No.2153,situated in the NW1/4 of
Section 36,Township 1 South,Range 5 East,P.M.M., Gallatin County,Montana,according
to the official plat thereof on file and of record in the office of the County Clerk and
Recorder, Gallatin County,Montana.
Before me, the undersigned authority on this day personally appeared
Carson Taylor, Mayor of the City of Bozeman
Personally known to me to be the person whose name is subscribed hereto and upon his
oath deposes and says that no proceedings in bankruptcy or receivership have been
instituted by or against him and that the marital status of the affiant has not changed since
the day of acquisition of said property and represents to the purchaser, lender and/or First
American Title Insurance Company or Old Republic National Title Insurance Company
in this transaction that:
l. No unpaid debts for plumbing fixtures, water heaters, floor furnaces, air
conditioners, radio or television antennas, carpeting,rugs, lawn sprinkling systems,
blinds, window shades, draperies, electric appliances, fences, street paving, or fixtures
that are located on the subject property described above, and that no such items have been
purchased on time payment contracts, and there are no security interests on such property
secured by financing statement, security agreement or otherwise except the following:
Secured Party Approximate Amount
N,),Vl e,-
2. No loan or liens (including Federal or State Liens, Judgment Liens, Child Support
Liens or Medical Assistance Liens), no judgments in sealed cases, and no unpaid
governmental or association taxes or assessments of any kind on such property except the
following:
Creditor Approximate Amount
niz-
3. All labor and material used in the construction of improvements on the above
described property have been paid for and there are now no unpaid labor or material
claims against the improvements or the property upon which same are situated, and I
hereby declare that all sums of money due for the construction of improvements have
been fully paid and satisfied. In addition, all appropriate building permits have been
obtained for the original structure and any additions or remodeling.
True False
4. To be filled in if a sale—The Seller is not a non-resident alien, foreign
corporation, foreign partnership, foreign estate, foreign trust or other foreign entity (as
defined in the Internal Revenue Code and income Tax Regulations). Seller's U.S.
employer identification number (or social security number) is:
Seller's address is
This affidavit may be disclosed to the Internal Revenue Service and is furnished to Buyer
to inform that withholding of tax is not required under Section 1446 of the Internal
Revenue Code.
5. Parties in possession other than affiant/s: Yes � No
v
If yes, Option to Purchase Lease Contract for Deed
INDEMNITY: I agree to pay on demand to the purchasers, lender and/or First American
Title Insurance Company or Old Republic National Title Insurance Company in this
transaction, their successors and assigns, all amounts secured by any and all liens not
shown above, together with all costs, losses and attorney's fees that said parties may
incur in connection with such unmentioned liens and not shown in accompanying
commitment. Provided said liens either currently apply to such property, or a part
thereof, or are subsequently established against said property and are created by me,
known by me, or have an inception date prior to the consummation of this transaction.
I realize that the purchaser, lender and/or First American Title Insurance Company or Old
Republic National Title Insurance Company in this transaction are relying on the
representations contained herein in purchasing same, lending money, insuring title
thereon and would not purchase same, lend money or issue title insurance unless said
representations were made. If seller or borrower is an entity, I have authority to sign on
its behalf.
The City of Bozeman
l
Carson Taylor, Mayor
State of Montana
County of Gallatin
On this 1?,) day of in the year Z)k�,before me personally
appeared Carson Taylor, Mayer o The City of Bozeman,known to me to be the person(s)whose
name(s) is subscribed to the wit in instrument and acknowledged to me that he (she or they)
executed the same.
IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and
year in this certificate first above written.
Nota Public for the State of Montana
s o��,is' KRIS DEASON Printed Name
Notary Public Residing at
ooURe44. _for the state of Montana
* `- Rending at: My commission expires
=;9.:s E.�I,P�; Bozeman, Montana
�`••,c�OF'MO� MY commission Expires:
August 12, 2018
Return to:
Security Title Company
600 South 19th Ave.
Bozeman, Montana 59718
WARRANT" DEED
FOR VALUABLE CONSIDERATION, the receipt of which is acknowledged, the undersigned, the CITY
OF BOZEMAN, City Hall, 121 North Rouse Avenue, Bozeman, Montana 59715 ("Grantor"), hereby grants
unto NORTH PARK DEVELOPMENT PARTNERS, LLC, 2131 Industrial Drive, Bozeman, Montana 59715
("Grantee"), real property in the City of Bozeman, Gallatin County, Montana, described as follows:
Tracts 1-A, 2-A, 3-A and 4-A of Certificate of Survey No. 2153, situated in the NWTY4 of
Section 36, Township 1 South, Range 5 East, P.M.M., Gallatin County, Montana, according
to the official plat thereof on file and of record in the office of the County Clerk and Recorder,
Gallatin County, Montana.
TOGETHER WITH all of Grantor's interest in mineral, timber, and water rights appurtenant to
the above-described land; provided, however, that Grantor makes no representations or
warranties as to the existence, extent, priority or adequacy of such rights.
TO HAVE AND TO HOLD unto the Grantee and to its successors and assigns, forever, SUBJECT TO
THE FOLLOWING:
(a) (i) Unpatented mining claims; (ii) reservations or exceptions in patents or in Acts authorizing
the issuance thereof; (iii) water rights, claims or title to water, and ditch rights, whether or not
the matters excepted under(i), (ii), or(iii) are shown by the public records;
(b) Any right, title or interest in any minerals, mineral rights or related matters including but not
limited to metals, stone, oil, gas, coal, and other hydrocarbons;sand, gravel or other common
variety materials, whether or not shown by the public records;
(c) Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the
title, including discrepancies, conflicts in boundary lines, shortage in area, or any other facts
that would be disclosed by an accurate and complete land survey of the land, and that are
not shown in the public records;
(d) Easements, claims of easement or encumbrances that are not shown by the public records;
(e) All building, use, zoning, sanitary, safety, and environmental rules, regulations, and
restrictions;
(f) Covenants, restrictions, reservations, limitations, conditions, easements, rights of way,
notations contained in or on any recorded plat, uses, waivers, agreements, bylaws, and other
provisions of record;
(g) Provisions contained in an Agricultural Lease between the City of Bozeman, as Lessor, and
Bill Tatarka, as Lessee, dated April 1, 2016;
Page 1 of 2
(h) Provisions contained in a Site Lease with Option Agreement between John M. Mandeville
and Donna R. Mandeville, as Landlord, and WWC Holding Co., Inc., a Delaware Corporation,
as Tenant, dated May 15, 2000, a memorandum for which was recorded October 15, 2001,
records of Gallatin County, Montana, under Document No. 2050420; and
(i) Taxes and assessments for 2016 and subsequent years.
EXCEPT with reference to the items referred to in Paragraphs (a) to (i) inclusive, for which no warranties
are given, this deed is given with the usual covenants expressed in Mont. Code Ann. § 30-11-110.
DATED: August , 2016.
THE CITY OF BOZEMAN
4g
v
Carson Taylor f ,
Mayor
STATE OF MONTANA )
ss.
County of Gallatin )
1
This instrument was acknowledged before me on August l 2016, by Carson Taylor as Mayor of The
City of Bozeman, a self-governing Montana local government.
,y
Notary Signature
Seal:
\\S VEs. _KRIS QE, SOr� ..l
2 '' Notary Public
r = jaOI r\RLq�' for f-.il(: State, cif
�_ — 13E�i�iing at
lnntar
My COIMMISSlon Expirt3s:
F
OFM .August 12 '2016 j
Page 2 of 2
Return to:
ASSIGNMENT AND ASSUMPTION OF
AGRICULTURAL LEASE
THIS ASSIGNMENT AND ASSUMPTION ("Assignment") is made August "`` 2016, by the CITE'
OF BOZEMAN, City Hall, 121 North Rouse Avenue, Bozeman, Montana 59715 ("Assignor"), and
NORTH PARK DEVELOPMENT PARTNERS, LLC, 2131 Industrial Drive, Bozeman, Montana 59715
("Assignee').
RECITALS
A. This Assignment pertains to an Agricultural Lease dated April 1, 2016, between the City of
Bozeman, as lessor, and Bill Tatarka, as lessee (the"Lease").
B. The premises of the Lease ("Premises") consists of the following described property (the
"Property"):
Tracts 1-A, 2-A, 3-A and 4-A of Certificate of Survey No. 2153, situated in the NET'/4
of Section 36, Township 1 South, Range 5 East, P.M.M., Gallatin County, Montana,
according to the official plat thereof on file and of record in the office of the County
Cleric and Recorder, Gallatin County,Montana.
C. Lessee uses the Premises for agricultural purposes in accordance with the provisions of the Lease.
D. Contemporaneously with this Assignment, Assignor is selling and Assignee is purchasing the
Property.
E. Assignor desires to assign and Assignee desires to assume the rights, duties, and liabilities of
Assignor as lessor under the Lease.
ASSIGNMENT
In consideration of the mutual covenants contained herein, the parties agree as follows.
1. Effective Date. The effective date ("Effective Date") of this Assigmnent is the date at the head of
this Assignment.
2. Assignment. Assignor does hereby assign, transfer, set over, convey, and deliver to Assignee all of
the right, title, and interest of the Assignor as lessor under the Lease. Assignee, and the successors
ASSIGNMENT AND ASSUMPTION OF AGRICULTURAL,LEASE........................................................................................................PAGE I
and assigns of Assignee, shall have all of all of said right, title, and interest as lessor that was held
by Assignor iminediately before this Assignment during all the remainder of the term of the Lease.
3. Assumption of Obligations. Assignee does hereby assume and agree to perforin the obligations of
lessor under the Lease from and after the Effective Date.
4. Additional Documentation. Each party from time to time, on or subsequent to the Effective Date,
at the other parry's request and without further consideration, shall execute and deliver to the other
party such other instrument of assignment or transfer and take such other action as the other party
may reasonably require to effectuate the purposes of this Assignment.
5. Successors and Assigns. The terms, covenants, and conditions of this Assignment shall be binding
upon, and shall inure to the benefit of, the parties hereto and their respective successors and assigns.
6. Governing Law. This Assignment and any disputes arising hereunder shall be governed hereafter
and construed and enforced in accordance with the substantive laws of the State of Montana,
without reference to principles of choice or conflicts of laws.
7. Counterparts. This Assignment may be executed in any number of counteiparts, all of which when
taken together will constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Assignment and Assumption of Agricultural
Lease the day and year first above written.
ASSIGNOR:
The City of Bozeman
r
by:
Carson Taylor
Mayor
ASSIGNEE:
North Park Development Partners, LLC
by:
its:
[Acknowledgments on next page.]
ASSIGNMENT AND ASSUWTION OF AGRICULTURAL LEASE..............................................................................................._.......PAGE 2
STATE OF MONTANA )
ss.
County of Gallatin )
This instrument was acknowledged before me on August 2016, by Carson Taylor as Mayor of the
City of Bozeman, a self-governing Montana local goverriment.
_-_ Notary Signature
KRIS IDEASON! Seal:
DEggO// Notary Public
'VoTAR/4 "for the St2ie Of Montana.'
Residing 1::
N .SEAL.'�� Dozeman, iviontar)01,
=< .••r��, my Commission Expiros,
v' �FM�?�,�" August 12, 2018 i
STATE OF MONTANA )
ss.
County of Gallatin )
This instrument was acknowledged before me on August � ;, 2016,by
as of North Park Development Partners, LLC, a Montana limited
liability company.
Notary Signature
KRIS DEASON Seal:
, o DEq,Sll tary Public
for thy; Ma.to of INilontaix-0,
HoWding at:
SEAL.,'* [='3o�?man, montana.
? Qr•�or< my CorirT7lt slon Expires:
August 12 :01G
ASSIGNMENT AND ASSUMPTION OF AGRICULTURAL LEASE........................................................................................................PAGE 3
Return to:
ASSIGNMENT AND ASSUMPTION OF
SITE LEASE WITH OPTION AGREEMENT
THIS ASSIGNMENT AND ASSUMPTION ("Assignment") is made August L , 2016, by the CITY
OF BOZEMAN, City Hall, 121 North Rouse Avenue, Bozeman., Montana 59715 ("Assignor"), and
NORTH PARK DEVELOPMENT PARTNERS, LLC, 2131 Industrial Drive, Bozeman, Montana 59715
("Assignee").
CITALS
A. Immediately prior to the Assignor's execution of this Assignment, Assignor, by previous
assigmnent,is the landlord under a Site Lease with Option Agreement dated May 15, 2000 between
John M. Mandeville and Domla R. Mandeville, as landlord, and WWC Holding Co., Inc. a
Delaware corporation, as tenant (the "Lease"). A memorandum of the Lease is recorded in the
records of Gallatin County under Document No. 2050420.
B. The premises of the Lease ("Premises") consists of 2500 square feet, more or less, of land located
within the following described property(the"Pro eI "):
Tract 4-A of Certificate of Survey No. 2153, situated in the NW'/4 of Section 36,
Township 1 South, Range 5 East, P.M.M., Gallatin County, Montana, according to the
official plat thereof on file and of record in the office of the County Clerk and
Recorder, Gallatin County,Montana.
C. The Premises,together with easement rights serving the Premises as provided in the Lease, are used
by tenant for the transmission and reception of radio communication signals and for the
construction, maintenance, repair or replacement of related facilities, towers, antennas, equipment
or buildings and related activities, all in accordance with the provisions of the Lease.
D. Contemporaneously with this Assignment, Assignor is selling and Assignee is purchasing lands
including the Property.
E. Assignor desires to assign and Assignee desires to assume the rights, duties, and liabilities of
Assignor as landlord under the Lease.
ASSIGNMENT
In consideration of the mutual covenants contained herein, the parties agree as follows.
ASSIGNMENT AND ASSUMPTION OF SITE LEASE WITH OPTION AGREEMENT...............................................................................PAGE I
1. Effective Bate. The effective date (`Effective Date") of this Assignment is the date at the head of
this Assignment.
2. Assignment. Assignor does hereby assign, transfer, set over, convey, and deliver to Assignee all of
the right, title, and interest of the Assignor as landlord under the Lease. Assignee, and the
successors and assigns of Assignee, shall have all of all of said right, title, and interest as landlord
that was held by Assignor immediately before this Assignment during all the remainder of the team
of the Lease.
3. Assumption of Obligations. Assignee does hereby assume and agree to perfoini the obligations of
landlord under the Lease from and after the Effective Date.
4. Additional Documentation. Each party from time to time, on or subsequent to the Effective Date,
at the other parry's request and without further consideration, shall execute and deliver to the other
party such other instrument of assignment or transfer and take such other action as the other party
may reasonably require to effectuate the purposes of this Assigmnent.
5. Successors and Assigns. The terms, covenants, and conditions of this Assignment shall be binding
upon, and shall inure to the benefit of,the parties hereto and their respective successors and assigns.
6. Governing Law. This Assigmnent and any disputes arising hereunder shall be governed hereafter
and construed and enforced in accordance with the substantive laws of the State of Montana,
without reference to principles of choice or conflicts of laws.
7. Counterparts. This Assignment may be executed in any number of counterparts, all of which when
taken together will constitute one and the same instrument.
IN WITNESS WHEREOF, the parties have executed this Assigmnent and Assumption of Site Lease with
Option Agreement the day and year first above written.
ASSIGNOR:
The City of Bozeman
Carson Taylor
Mayor
ASSIGNEE:
North Park Development Partners, LLC
[Acknowledgments on next page.]
ASSIGNMENT AND ASSUMPTION OF SITE LEASE WITH OPTION AGREEMENT..........................._._.................................._..__.....PAGE 2
STATE OF MONTANA )
ss.
County of Gallatin )
This instrument was acluTowledged before me on August 2016, by Carson Taylor as Mayor of the
City of Bozeman, a self-governing Montana local govelannent.
KRIS DEPSOI\�"
Notary Signature
,�'•. •.•�, Notary Public
yprni�iq for the STatc of monl i i
Seal:
i _. _ faesicliiul at �
k�T.SB Alice.�_� E3ozeman Montana
My Commission Exphos',: ,I
OF MU August 12, 2018
STATE OF MONTANA )
ss.
County of Gallatin )
This instrument was aclaiowledged before me on August i, 2016, by�,
as �'\,`{ g)�; .`,. of North Park Development Partners, LLC, a Montana limited
liability company.
t 1
Notary'_Signature
�n���� IU11S DF"P,��0V Seal:
=for the statl� of k/lontfm
�� � , ro�t•� f ly xp,it
Aug,List 12,20113
ASSIGNMENT AND Ass wTION OF SITE LEASE WITH OPTION AGREEMENT...............................................................................PAGE 3