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Home My WebLink AboutFinal Signed Closing Documents Sale of Bridger Park Office Condo Dec 2012.pdf see Serving Gaffaiin,Madison and Park Counties SELLER'S CLOSING STATEMENT Escrow Number: 0121490 Title Order Number: G121490 Escrow Officer: Kris Deason Date: 12/12/2012 Closing Date: Buyer/Borrower:R&B Holdings,LLC Seller: City of Bozeman Property: 26 East Mendenhall Street#201,Bozeman,MT 59715 TOTAL CONSIDERATION 12s 000.00 PRORAUONS/AD3USTM ENTS: 1/2 Appraisal Cost 750.00 COMMISSIONS: Listing Broker.McKenna ReaJV 3,750,0 $citing Broker.Triple Creek Real -Bozeman 3,437.5 TITLE CHARGES Owner's Premium for 125 000.00:Security Title Company Of Montana Owner's premium 633.0 Inspection Fee:Security Title Company Of Montana i ESCROW CHARGES TO:Security Title Company Of Montana Escrow Fee 125.0 BALANCE DUE YOU 117 804.5 TOTALS 1 125,750.00 125,750.00 City of Bozeman Chris A.Kukuisld,City Manager i I j CLOSING INSTRUCTIONS TO SECURITY TITLE COMPANY OF MONTANA DATE: CLOSING OFFICER:Kris Reason FILE:G121490 SELLER:City of Bozeman BUYER R&B Holdings,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: I Unit R8 of Mendenhall Marketplace Condominiums,located on the Retail Unit of the ' Intermodal Commerce Condominiums,situated on Certificate of Survey No.C-1 F(Lots 13-24,Block F of Original Plat of Bozeman),Gallatin County,Montana,according to the official plat thereof on isle and of record In the office of the County Clerk and Recorder, Gallatin County,Montana. Together with an 8.03%interest in the general common elements of the Irrtermodal Commerce Condominium appertaining to said Retail Unit,the Declaration and ByLaws for which were recorded December 4,2008,Document No. 2316526,and Amended October 17,2012,Document No.2429362,records of Gallatin County,Montana. The use of the Retail Unit shall be for anything allowed by Bozeman United Development Ordinance per table 18-1,including but not Ilmited to permitted principal,conditional and accessory uses. Together with a 10.00%interest in the general common elements of the Mendenhall Marketplace Condominium appertaining to said Unit R8,the Declaration and Bylaws for which were recorded December 4,2008,Document No. 2316527,First Amendment,recorded March 31,2009,Document No.2325763,and Amendment No.2,recorded October 17,2012,Document No.2429361,records of Gallatin County,Montana. The use of this condominium shall be for anything allowed by Bozeman United Development Ordinance per table 18-1,including but not limited to permitted principal,conditional and accessory uses. 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: June 8,2012. By executing these closing instructions parties hereby acknowledge the legal description above and agree it is the intended property for sale and purchase. 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: $125,000.00 2. Earnest Money has been collected from the Buyer in the amount of: $5,000.00 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 arc to be paid as follows: Seller: Owner's Title Iusivance Buyer: Mortgagee's Title Insurance I 5. The recording fees are to be paid as follows: Seller: To clear title Buyer: To transfer title and loan documents 6. The Real Estate Commission is to be paid By: Seller To: McKenna Realty 7. Date of Proration shall be: The Following are to be prorated: Parties acknowledge that Security Title Company is unable to prorate real property taxes at the time of closing, The 2012 tax bill included the property being purchased as well as other real property and has been paid in full by the seller. The subject property is currently exempt from County taxes;the Buyer shall be responsible for all future County tax payments. 8. Buyer and Seller acknowledge receipt of a copy of the Preliminary Commitment for Title Insurance,G121490. The closing agent shall cause the following exceptions as set forth in said commitment to be cleared from the public record: No.9-11;2012/13 City of Bozeman special assessments have been paid. 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 lions and encumbrances or other debts against the subject property other than those disclosed in the Preliminary Commitment for Title Insurance,G121490,to which the Seller has knowledge. 11. The closing agent shall disburse all monies received m a timely manner after all documents have been properly executed;recorded and all closing costs are paid in fall. 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,proration,etc.should the actual date of disbursement be other than anticipated. SPECIAL INSTRUCTIONS: The Buyer shall be responsible for all future Mendenhall Marketplace Condominium association dues that maybe assessed. NOTE:SECURITY TITLE COMPANY,assumes no responsibility or liability for the condition of the subject real property at the time of closing nor does SECURrrY 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 beca either satisfied or negotiated outside of closing. SELLER: City of Bozrm v By:Chris A.Kukuls . City Manager BUYER. R& Idin ,LLC y:Rebecca H.Pape,Member By:Ross E.Wenger, ember I ! i Buyer's Mailing Seller's Mailing Address After Closing: Address After Closing: (Correspondence to be sent to) Correspondence to be sent to) P n hT ' l E I I WARRANTY DEED For Value Received,City a€Bozeman,a self-governing Montana municipal f corporation with address of 121 North Rouse Ave:,Bozeman,Montana 59715,the Grantor,does hereby grant,bargain,sell,convey and confirm unto R&B Holdings,LLC, a Montana limited liability company,with address of 869 Brookdale Drive,Bozeman, Montana 59715,the Grantee,the following described premises.the City of Bozeman, . Gallatin County,Montana,to-wit: Unit R8 of Mendenhall Marketplace Condominiums,located on the Retail Unit of the Intermodal Commerce Condominiums,situated on Certificate s of Survey No.C-1-F(Lots 13-14,B1oek F of Original Plat of Bozeman), .- Gallatin County,Montana,according to the official plat thereof on file and Of record in the office of County Clerk and Recorder, Gallatin County, Montana. TOGETHER WrrH an 8.03"/a interest in the general common elements of the Intermodal Commerce Condominium appertaining-to said . Retail. Unit, the Declaration and Bylaws for which were recorded December 4, 2008, Document No. 2316526 and Amended October 17, 2012,Document No:2429362,records of Gallatin County,Montana. And further TOGETHER WITH a 10,00% interest in.the general common elements of the Mendenhall Marketplace Condominium appertaining to said Unit.R8, the Declaration and Bylaws for which were recorded December 4,2008,Doc.No:2316527,First Amendment,recorded March 31, 2009, Document No: 2325763, and Amendment No. 2, recorded October 17, 2012, Document No. 2429361,records of Gallatin County,. Montana. . SUBJECT TO.easements, conditions, restrictions and rights-of-way shown`or indicated in the public records of any kind or plats filed and recorded in the office of the County Clerk and Recorder of Gallatin County;.Montana,or which may be ascertained from a visual inspection of the property. Subject to prior mineral,oil and gas,and patent.. rights and reservations and exceptions, if any; Subject to taxes and other governmental charges and assessments accruing or imposed after the date hereof, Subject to building, use,zoning,sanitary,safety,and enviionmental rules regulations,and restrictions,if any; 1 Subject to the covenants, restrictions, reservations, limitations, conditions, uses, agreements,easements,options and all amendments thereto. TOGETHER Wn'TI all tenements,hereditatnents and appurtenances thereto,and all reservations and remainders,and all rents,issues and profits thereof,and all right,title and interest of the Grantor therein. TO HAVE AND TO HOLD the said premises,with its appurtenances unto the said Grantees,their heirs and assigns:forever,and the said Grantor does hereby covenant to and with the said Grantees that Grantor is the owner in fee simple of said premises; that it is free from all encumbrances and that Grantor will warrant and.defend the same from A*lawful claims whatsoever. DATED this 3 .day of V,4tf2012. City of Bozeman rVy;, °� aChrls A.Kukulski - - +� ity Manager Attest . �-1 '-: 07, ; r S cy U e City Clerk •° '- . 1883e0>��`' STATE OF MONTANA Off' 1N Cp, t ss.: .. County of Gallatin . On this day of this instrument was acknowledged before me by Chris A.Kukulski and Stacy Uhnen as City*Manager and City Clerk,respectively,of the City of Bozeman,a self-governing t unicipal govern " Heather Slenvenue for the State of blIc Mohtana 4 PublIc '� ary Public or the to o Montana * - * Residing Printed Printed Name `n SEAL Bozemran, Montana Residing at .Montana f of pipe ,' MY Comrnission E'xplrea: My commission expires:. January2R,201A. 2 ,