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HomeMy WebLinkAbout1926 Fagerness Point Road - Sewer Televising Report (482)American Land Title Association ALTA Settlement Statement - Seller Adopted 05-01-2015 Title Specialists, Inc. ALTA Universal ID:1029982 105 Central Ave E Saint Michael, MN 55376 File No./Escrow No.:250549 Print Date & Time:May 13, 2025 10:20 am Officer/Escrow Officer:Lisa Sowers Settlement Location:13601 80th Circle N, Suite 300 Maple Grove, MN 55369 Property Address:1926 Fagerness Point Road Orono, MN 55391 Buyer:Marthann Olson Seller:Estate of Kurt Vegdahl 1926 Fagerness Point Road Orono, MN 55391 Lender:CASH Settlement Date :May 14, 2025 Disbursement Date :May 14, 2025 Description Seller Debit Credit Financial Sale Price of Property 1,550,000.00 Prorations/Adjustments County Taxes 05/14/25-06/30/25 1,568.97 Title Charges and Escrow/Settlement Charges Escrow Fee to Title Specialists, Inc.150.00 Payoff Processing Fee to Title Specialists, Inc.80.00 Proceeds Handling Fee to Title Specialists, Inc.40.00 Recording Service Fee to Title Specialists, Inc.80.00 Seller Closing Admin Fee to Burnet Title 680.00 Seller closing admin fee for courthouse services to Burnet Title 100.00 Commissions Broker Admin Commission to Coldwell Banker Realty 599.00 Commission - Listing Agent to Coldwell Banker Realty 38,750.00 Commission - Selling Agent to White Companies, Inc 38,750.00 Copyright 2015 American Land Title Association File # 250549/43 All rights reserved Page 1 of 2 Printed on 05/13/25 at 10:20:55 AM by Debbie Patnode Docusign Envelope ID: D5691A59-C13D-42D0-B03F-01503A6E905D Description Seller Debit Credit Commissions (continued) Government Recording and Transfer Charges Conservation Fee to Hennepin County Recorder 5.00 Recording Fees for Probate Docs to Hennepin County Recorder no will so only 2 docs 92.00 SDT to Hennepin County Treasurer 5,270.00 Payoffs Payoff of First Mortgage Loan to Shellpoint 151,232.48 Payoff of Second Mortgage Loan to Wells Fargo 18,559.51 Miscellaneous Property Taxes to Hennepin County Tax Treasurer 5,916.31 Attorney Invoice to Steven J. Lodge, PLLC 175.00 Current Water to City of Orono 122.36 Escrow per Amendment for sewer line work to Title Specialists Escrow 12,518.00 Estimated Final Water Charges to City of Orono 200.00 Debit Credit Subtotals 273,319.66 1,551,568.97 Due to Seller 1,278,249.31 Totals 1,551,568.97 1,551,568.97 Acknowledgement We/I have carefully reviewed the ALTA Settlement Statement and find it to be a true and accurate statement of all receipts and disbursements made on my account or by me in this transaction and further certify that I have received a copy of the ALTA Settlement Statement. We/I authorize Title Specialists, Inc.to cause the funds to be disbursed in accordance with this statement. Seller Estate of Kurt Vegdahl BY:________________________________ James Crooks Personal Representative Title Specialists, Inc. BY:________________________________ Lisa Sowers Closer Copyright 2015 American Land Title Association File # 250549/43 All rights reserved Page 2 of 2 Printed on 05/13/25 at 10:20:55 AM by Debbie Patnode Docusign Envelope ID: D5691A59-C13D-42D0-B03F-01503A6E905D 105 Central Ave E, Saint Michael, MN 55376 Phone: (763)493-2224 / Fax: (763)493-2226 Work Completion Escrow Agreement This Escrow Agreement is made on _____05/13/2025_____, by and among ___James Crooks , Personal Representative of the Estate of Kurt Vegdahl ( “Seller”); ____Marthann Olson__ (“Buyer”); and _____Title Specialists, Inc___ (“Escrow Agent”). Seller has sold to Buyer real property described as follows: That part of Lot 27, Fagerness and the accretion thereto described as follows: Commencing at a point on the Southerly line of Under the Linden Avenue which point is distant 75 feet Northeasterly from the Southwest corner thereof; said point being marked by the judicial landmark; thence Northeasterly along the Southeasterly line of Under the Linden Avenue a distance of 100 feet which point is marked by a judicial landmark; thence South 34 degrees 14 minutes East a distance of 69 feet which point is marked by a judicial landmark; thence continuing South 34 degrees 14 minutes East a distance of 6 feet more or less to the shore of Lake Minnetonka; thence Southwesterly along the shore of Lake Minnetonka a distance of 97.7 feet more or less to its intersection with a line which bears South 33 degrees 48 minutes East from the point of beginning; thence North 33 degrees 48 minutes West a distance of 8 feet more or less to a point which is marked by a judicial landmark; thence continuing North 33 degrees 48 minutes West a distance of 64 feet to the point of beginning. For purposes of this description the North line of Fagerness is assumed to be a due East and West line. Torrens Property Certificate No. 1479904 1926 Fagerness Point Road Orono, MN 55391 Seller and Buyer have agreed that certain repairs and/or improvements are required to be made after closing and at the Seller’s expense, but they have closed on the sale of the transaction prior to the time the repairs and/or improvements can be completed. As an accommodation, Seller and Buyer have requested Escrow Agent to act as a neutral party stakeholder to hold certain funds until written authorization to release said funds has been provided to Escrow Agent as outlines in Paragraph 6 below. Docusign Envelope ID: D5691A59-C13D-42D0-B03F-01503A6E905D Improvements to be completed : Improvement:Estimated Cost Sewer Line work per amendment dated 05/12/2025 $11,380.00 $ $ Total: $ 11,380.00 Seller and Buyer agree as follows: 1.Seller has deposited with Escrow Agent the sum of $___12,518.00 per the amendment__dated 05/12/2025_______ (“Escrow Funds”) 2.Seller agrees the Escrow Funds shall be deposited in a non-interest bearing account. 3.Buyer agrees to contract for the completion of the above-referenced repairs and/or improvements. Buyer understands that this escrow is limited to and intended to address only those items set forth above. 4.The completion of such repairs and/or improvements shall be on or before _____12/31/2025_______________ (“Completion Date”). 5.Seller and Buyer agree that Escrow Agent (shall/shall not) be permitted to release Escrow Funds in partial amounts for partial completion of the work prior to the Completion Date of this Escrow Agreement. 6.In the event Escrow Agent shall not be permitted to release the funds only upon receipt by Escrow Agent of a written statement signed by Seller and Buyer that the repairs and/or improvements have been completed directing Escrow Agent to release the Escrow Funds. Seller and Buyer agree that any amount of Escrow Funds in the excess of the amount needed for the repairs and/or improvements shall be refunded to the seller. 7.If buyer does not complete the repairs and/or improvements by the Completion Date or Seller and Buyer cannot mutually agree to the release of Escrow Funds, then the parties agree at their own expense to mediate their differences or to resolve their differences in court. Escrow Agent agrees to cooperate fully with the parties in any process to resolve the differences, including providing the parties with copies of appropriate document copies. Escrow Agent agrees to release the funds in accordance with an agreement the parties or to the prevailing party in a court action after expiration of any applicable appeal period. 8.In the event of a dispute as to the disposition of the Escrow Funds, Escrow Agent may deposit the Escrow Funds with a court of competent jurisdiction for a final resolution of the matter. Its reasonable costs and attorneys’ fees for such legal adjudication shall be paid for out of the Escrow Funds. 9.Seller and Buyer acknowledge that the Escrow Funds may be insufficient to complete the improvements specified and that the Seller’s liability for the repairs and/or improvement (is/is not) limited to the amount of the Escrow Funds. Docusign Envelope ID: D5691A59-C13D-42D0-B03F-01503A6E905D 10.This Escrow Agreement shall be binding upon and insure to the benefit of the parties, their successors and assigns. 11.The Escrow Agreement shall be governed by the laws of the State of Minnesota. 12.No rescission of this escrow or modification of its terms shall be effective without the written consent of Seller, Buyer and Escrow Agent. 13.Any written communication given in connection with respect to this Escrow Agreement shall be sent to the parties at the addresses set forth below. If any party to this Escrow Agreement shall move or relocate, it shall be the duty of the moving party to notify the others of the change of address. IN WITNESS WHEREOF, the parties hereto have executed this Escrow Agreement as of the date and year first above written. ____________________________________________________________ James Crooks, PR Marthann Olson Address Address ____________________________________________________________ ____________________________________________________________ ____________________________________________________________ Phone Phone ____________________________________________________________ Fax Fax Escrow Agent: ____________________________________________________________ ______________________________Phone ____________________________________________________________ Address Fax Docusign Envelope ID: D5691A59-C13D-42D0-B03F-01503A6E905D 612-840-5868 1932 Fagerness Point Road Certificate Of Completion Envelope Id: D5691A59-C13D-42D0-B03F-01503A6E905D Status: Completed Subject: Complete with Docusign: 1926 Fagerness | 2164025-03028 Source Envelope: Document Pages: 5 Signatures: 2 Envelope Originator: Certificate Pages: 4 Initials: 0 Wayzata Office AutoNav: Enabled EnvelopeId Stamping: Enabled Time Zone: (UTC-08:00) Pacific Time (US & Canada) Burnet Title 5151 Edina Industrial Blvd #500 Edina, MN 55439 wayzata@burnettitle.com IP Address: 136.226.87.99 Record Tracking Status: Original 5/13/2025 8:48:57 AM Holder: Wayzata Office wayzata@burnettitle.com Location: DocuSign Signer Events Signature Timestamp James Crooks, Personal Representative james.crooks@controls-solution.com Security Level: Email, Account Authentication (None) Signature Adoption: Pre-selected Style Using IP Address: 173.20.233.81 Sent: 5/13/2025 8:51:06 AM Viewed: 5/13/2025 9:13:52 AM Signed: 5/13/2025 9:15:52 AM Electronic Record and Signature Disclosure: Accepted: 5/13/2025 9:13:52 AM ID: 2ee1476f-e8d1-49a5-936d-3c5f079e52d0 In Person Signer Events Signature Timestamp Editor Delivery Events Status Timestamp Agent Delivery Events Status Timestamp Intermediary Delivery Events Status Timestamp Certified Delivery Events Status Timestamp Carbon Copy Events Status Timestamp Witness Events Signature Timestamp Notary Events Signature Timestamp Envelope Summary Events Status Timestamps Envelope Sent Hashed/Encrypted 5/13/2025 8:51:07 AM Certified Delivered Security Checked 5/13/2025 9:13:52 AM Signing Complete Security Checked 5/13/2025 9:15:52 AM Completed Security Checked 5/13/2025 9:15:52 AM Payment Events Status Timestamps Electronic Record and Signature Disclosure CONSENT TO ELECTRONIC RECORD AND SIGNATURE DISCLOSURE From time to time, we may be required by law to provide to you certain written notices or disclosures. 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