HomeMy WebLinkAboutEscrow agreement ,
LAND TTI"LE,INC.
i9oo s��«r.�xo�a
s,ux Zoo
New Brightan,MN 55112
(651)638-1900•Fax(651)638-1994
ESCROW AGREEMENT
FII,E NO.: 402986
DATE: 5lZ3/1013
PROPERTY ADDRESS: 80 Luce Line Ridge
It is haeby agreed by Zde,nko Grajcar and Katffiina Grajcarova,Buyers,of said properiy,that the following
sum w71 be held'm escaow for complotion of the following it�s of cons�uction on said property
II$l!� ESTIIvfATED COST AMOLJNT HELD
Septic upgrade a16.989.00 Sl$,688.00
Total Held in F,scsow 518,688.00
It is undeistood and agrad that g��8 will complde the above ibr�s before August,23,2013.Buyers
will notify I.and TiUq Inc.and give wripxm proof fram tbe City of Orono that the septic is code cwa�pliant
Buyers agree to cwmplabe the above ite�s p�o�ptiy and in a good and worl�anl�lce manner and to pay the
necessary additional fimds to e:omplete these ibtms. In Uie eveat Buyras and the City of Orono caanot agree
on acxptable complation and diabiusem�t of fimds,I.and Titlq Inc.will contmne to hold fimds imtil such
agreemmt is reachad or it has received a 5nal order&om a cowt of competwt j�isdiction.
It is also ageed that an escaow fee of 550.00 will be charged for this s�vice. Land Title,Inc.hereby agees
bo hold the above fimds m their aon-mbarost-bearmg trast accoimt and p�fmm axording to the above
torms.
It is agreed that after paymeat of the above ibema,the balaace of fimds m ascrow shall be paid to Zdenko �
Grajcar and Katarma Gxajcarova. �
�,�'�
I ��
(BuYers)
L,sud Titiq Iac.hereby acimowledgas receipt of S 18,688.00 to be held payment of w in accordance
with above ement
. B �" � �' >
Mary ell 651-6 7-61
S
� —-- -- -_----.._.
�������
ELMER J. PETERSON COMPANY, IIVC.
5921 DAGUE AVE.5E
DELANO,MINNESOTA 55328
JIM BRAEGEtMIWN
. (763)972-2420
May 21, 2013
Zdenko Grajcar
80 Luce Line Ridge
Orono, MN
INSTALL PRESSIIRIZED SEEPAGE BED AS PER DESIGN AND PERC
TEST. Materials aupplied and installed, re-use existing tanks,
manhole riser, multi-flo tank (inetalled only), supplied by
others, sand, rock, topsoil comes off site, 1'�" pipe, 2" pipe,
4" pipe, cleanouts on the end of laterals, Pump il, 1/3HP with
timer, alarm, postr and wire, Pump #2, 3/48P, control switches,
alarm, post and vire, electric inside and outside, pump existing
tanks� labar, permit and state tank fee.
Install above material in a workman like manner subject
to state and local codes and ordinances, governing such vork.
If approved please sign the vhite copy and return to oar
office to get on the Work list. weather permitting.
NOTE: No sod or seeding included in this bid. No inside plumbing
No water meter included in this bid. Not responsible
for yard, grass, trees, sprinkler system, unknown buried,
wires, cables, etc. Property line must be located by
homeowner prior to the start of the job.
WE PROPOSE to firmish Jabar and materfal—complete in accadance with above specifrcatiarts, and subject to
condidons found on both srdes of this agreernerr�fa tfie s�n af:
Sirtoon Thniia:anA Nine Aiin�pA Fi�hf.Y. )y;no a...i f1I1�Q�(��$j4�98� QQ �.
Paymertt to be made as foliows: g.�,p�AA8�AA vkrer��e� i� e�ta��ed
S6.989.00 �rhon �ob i s hanlrfi 1 1 od anr➢ i n=orteA
ACCEPTFn,nie above uiees,�perJdntlons ana caM�s aie sa�M+etar RespecduNy s�bmitted
and are hweby ac�ed,Yae an wtlwrkeQ to do ths wak as speclQed.
�"'��iisds�01�ned8DO1°'�dn"""`� ELMER J.PETERSOIV COMPANY,INC.
ey �� ey'LY �
J /
sr r�,�o� re.��r�u�a.�a«� 3(r' an.
. 5123/13 7:42 AM OMB No.2502-0265
r.��NT„ A.U.S.Department of Housing B.Type of Loan
,�Qw `% and Urban Development 1.[ )FHA 2.[]RHS 3.[X]Conv.Unins.
9�� �'��I����} � 4.( ]VA 5. )Conv.Ins.
I � 6.File Number 7.Loan Number
o �
�'qe `��`� 402986 3106785
5. �F�E
Settlement Statement 8.Mortgage Ins.Case No.
C.Note: This form is fumished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are
shown. Items marked("POC")were paid outside the closing: they are shown here for information purposes and are not
included in the totals.
D.Name of Borrower. Zdenko Grajcar,3220 Utah Avenue North,Crystal,MN 55427
Katarina Grajcarova
E Name of Seller. Kevin Talbot
Gayl Talbot -
F.Name of Lender: NoRh American Banking Company,4999 France Ave S#120,Minneapolis,MN
55410
G.Property Location: Lot 8,Block 1,Painters Creek
80 Luce Line Ridge,Orono,MN 55359
H.SetGement Agent: Land Title,Inc.(651)63&1900
Place of Settlement: �00 Caunry Road C#2205,Roseville,MN 55113
I.Settlement Date: 5/23/2013 Prorat(on Date: 5l23/2013
�.���:�.1°�Summ`ary+of�o'�""ainrer's;�a�s'!'actii3n�,���'., �`� ��-K?"$ur���°�Se11er'�'�r�insaction w''""
700:�.�Gro s'iCnronhfoue rro'rii.�oirov er:��?�� � �' '�.,;�;� ;:',40o�.'�Gfo s Amounc;D3e"°td�sei�er , �."'." "
_,
'101. Contract saies price 662,500.00 401. Contract sales price 662,500.00
102. Personal prope 402. Personal prope
103. Settlement charges to borrower(line 1400) 10,520.02 403. Commission credit from listing agent from C86 449.00
104. Escrow for septic 18,686.00 404.
105. 405.
A�S�b�ehtsfoYK�6:ig�!?�I.eb�'s�tie�i�a v',�tiee- , ' ''° ,.,,: ` ;;Ad1'�s�rien.�4�it�ms:P,aidv�X�s�)�I��� . :=��:+��xy...�.�.
106. CityRown taxes 406. Cityttown ta�ies
�07. Countytaxes SR3f2013 to 7l12013 829.35 407. Countytaxes 5/23/2013 to 7!1/2013 829.35
108. Assessments 408. Assessments
109. Association Dues 409. Association Dues
1'10. 410.
1'I1. 411.
112. 412.
120. Gross Amount Due from Borrower: 692,537.37 420. Gross Amount Due to Seller 663,778.35
�'00, r./irtioynts,Q,�id;6y or`�.BehalF�+o�rc4yw4C"',�' .^ . „�� ;, .._� :bOQ,<:,,t�edudion In�HliipGt�t�Dqd tii.Seligr„i;,�.��.�,,.> ,a,��,t�; ; � ,
201. Deposk or eamest money 10,000.00 501. Excess deposit(see instrudions)
202. Principai amount of new loan(s) 400,000.00 602. Settlement charges So seller(line 1400) 32,902.25
203. Existin loan(s)taken subject to 503. Exis6ng loan(s)taken subjed to
204• 504. Payoff of first mortgage loan Welis Far o Bank 377,898.02
205. 505. Payoff of second mortgage loan BestSource CU 22,920.87
206. 506. Deposit or eamest mone 10,000.00
207. 507.
208. 508.
209. 509.
A�lustr`r'fi`en'tsis�r�fe.�?"s'uri id°:��l�e�_ _:�°;,, a;a::�?�. �.:'.,�'�.- .Aa�os�m" '�'foqit�i�'d'a�i ��;�e�e�y�.�;�. �..�:� �"-'r°
210. City/town taxes 510. Ciry/town taxes
211. Counry taxes 51�. County taxes
212. Assessments 512. Assessments
213. Association Dues 5'13. Association Dues
214. 514.
2'I5. 516.
2�6. 516.
217. 517.
218. 518.
219. 519.
220. Total Paid bylfor Borrower 410,000.00 520. Total Reduction Amount Due Seller: 443,721.14
300:�`�Cash,aF Sett(emenffrordlto`$o'rrowei;�5� Ydj� :" � " _ " �
.�,,;���t}b: :�r`;�,„�,�,,„, �a 500: Cash':atSattlement to/froFi�Selter.� �����<,�,�,� .��
301. Gross amount due from borrower(line 120) 692,537.37 601. Gross amount due to seller(line 420) 663,778.35
302. Less amount paid b lfor borrower line 220) 470,000.00 602. Less total reduction in amount due seller(line 520) 443,721.14
303. CASH(X)FROM()TO BORROWER 282,537.37 603. CASH QFROM(X)TO SELLER 220,05721
SUBSTITUTE FORM 1099 SELLER STATEMENT-The infortnation contained In Blocks E,G,H and I and on line 401(or,if line 401 is asterisked,lines 403 and 404),408,407 antl
408-412(applicable part of buyefs real estate ta�c reportable to the IRS)is important tax information and is being fumished to the Intemal Revenue Service.If you are required to file a
2lum,a negiigence penalty or other sancdon will be imposetl on you if this item is required m be reported and the IRS detertnlnes that R has not been reported.
SELLER INSTRUCTION-If this real estate was your printlpal residence,file fortn 21�9,Sale or Exchange of Principal ResiEence,for arry gain,wilh your income tau retum;for other
transactions,completa ttie applicable parts ot form 4797,Form 6252 and/or Schadule D(Fortn 1040).
You arc rcquired by law M provide Land TNIe.Ina(651)63&1900 wMh your correct taxpayer identifica8on number.
If you do not provide Land TNe,Inc.(851)63&1900 wkh your cortect ta�ayer identiflcation number,you may be subjeG to civil or crlminal penalties.
The Public Reporting Burden for riiis collection of in�ormatlon is estimated at 35 minutes per responu for collec6ng,reviewing,and reporting The data.This agency may
not collect this infortnation,and you are not requirad to complete this fortn,unless k displays a curtently valid OMB control number.No confidentiaiity is assured:this
disdosura is mandaWry.This is designed to provida the parties to a RESPA covered transaction w(th informatian during the settlement pracess.
, `, ar � L.^Settfement-Cha'r"`es ����:�"„�'z.51.23`r�3 7ra2-Atw� �, :���`.�..''�V�g�.�:�<� ,z Fi�e-Numnec ao2sas ..
700. Total Real Estate Broker Fees based on:$662,500.00=$40,199.00 Paid From Paid From
Division of commission(line 700)as foliows: Bortower's Sellers
701. $21,862.50+$449.00 to Coldwell Banker Bumet Funds at Funds at
702. $17,887.50 to Edina Real Settlement Settlement
703. Commission paid at settlement$30,199.00 395.00 30,199.00
704. 510,000.00 eamest money retained by Listing Broker as POC_
705. Additional Broker Commission to Edina Realry $395.00
706. AddRional Broker Commission
_. .. > >�. .> , .:.,:
800. .-ltems,Payabig-in ConneGion�Y�}.��Pen_ ,� ...,' , ...<°°:.f�.������'�`� �=z�`it�.., �:ro�r:k sa �i x ..��°wz>�. +� �u r�:•;,
801. Our origination charge(Includes Ori ination Point 1°h or$4,000.00) (han GFE#1) $4,OD0.00
to North American Banking Company
802. Your cred'R or charge(polnts)for specific inUe2st 2te chosen pran GF[at2)
803. Your adjusted ori ination charges (fromGFEA) 4,000.00
804. Appraisal fee (fium GFEM3)
605. Credit report to CBC Innovis (aom cFr�) 22J0
806. Tax service (tr«n�Fena�
807. Flood ceRfication to CBC Innovis (xomcF�� 12.00
808.
809.
81 D.
811.
812.
900.��,alt�'ht's Reqtlired`by`LeridekYoBe�af�;ip!Ac�v�n���`�`���"" �";' . „ : `:: e.�::-�.�tr.AA �t:� �3� ,'x�.
901. Daily interest charges (o-om cFEuio�
902. Mortgage insurance premium (from GFEN3)
903. Homeowners insurance 1 ear Farmers Insurance (hom GFE#17) POCB 1887.54
904.
905.
t00Q,�F2es'e�es;4SeDiis�tedWvttli''I��ider` `';;..�.��!�#,I�����i��� , , '�
.r ,� � 4:���e;r `�+:-;. `:'v6§'�:"#f'.�.,�,..„,.
'1001. Initial deposit for our escrow account (�GFEY9) 2,396.42
1002. Homeowners insurance 3 mo. $157.3000 per mo. $471.90
1003. Mort a e insurance
1004. City prope taxes
1005, Coun property taxes 4 mo. 5641.5000 per mo. $2,566.00
1006. Annual Assessments(maint.)
1007.
1008.
1009. Aggregate Adjustment ($641.48)
'FY00:;'C:.�"t�,i�8�Ch0fQes:,:�st s�'..^at a8 sC' rt rn����r ax�d;�:;' wait+e�'r.,am�: a.,.x&��.ik�6�-raa.".�r� �'z„.�t�3 ��w�.5�;,:;�.�¢;.
1101. Title services and lenders title insurance y Land TiUe,Inc (o-om cFEaa� 1,900.00
1102. Settlement or closing fee to Bumet Titie 320.00
1103. Owners title insurance to Land Title,Inc. Irrom cF�rs> 727.50
1104. LendeYs title insurence to Land TRIe,Inc. 51,050.00
1105. Lender's title polic limit 5400,000.00
1106. Owner's title policy limR $662,500.00
1107. AgenYs portion ofthe total tHle insurance premium 51,457.55
1108. Underwriters poRion of the total title insurance premium $319.95
1'109. Agent Name:Land TRIe,Inc.
1110. Underwriter Name:Stewart TRIe Guaranty Company
1111. Plat Drawin to AIS$20
11�2. Assessment Search to AIS$14
1113. Abstracting/RPP✓'fract
1114. Exam Fee
11'15. Assessment Search 8 Review
�29Q.��wern�ent Rec�rding?andsTr�sf�i��?�:�: ,.; _ . � ";a�it#��.,��fi�^�-�:;�.�� ��,� ���.�:�:�c;��.,� ,� .. .,-r,.. ,:,
120'1. Govemment recording charges (ttan GFEY7) 142.00
1202. DeedlMor�qage/Release Deed$46.00 Mort a e$46.00 Release$92.00 92.00
1203. Trensfer taxes (fran GFENB) 925.00
1204. Ciry/County tawstamps Mortgage$920.00
1205. State tax/stamps Deed$2186.25 2,186.25
1206. Conservation Fee to Hennepin Cou$5.00 5.00
120�. Recording Surcharge to Land TRle,inc. � 50.00 ,
1208. Well disclosure cert�cate to Hennepin Cou$50.00 �
1300..ae*:^t4dd'R't,ona�SettlCrTi�nfCltaYg45:4�Ei�a�:u3.::xr-w M zk e, , .., �;� . � � r. � ,��..^,r`;��c.a�.+ac,�.� � � :- R,-� w�' °�.z"
_e
130�. Required services that you can shop for �rt«��cFeas> 0.00
1302. Home Warranty to HSA by listing agent POC 550.00
7303.
1304.
�305.
1306. Messen er Fee&Surcharge to Land T�le,Inc. 50.00
1307. wre Fee&Surcharge
1308: Attomeys Fees
1400. Total settlement charges(entered on iines 103,section J and 502,section I� 10,520.02 32,902.25
, � 5/i3/t17:�2 AM F0.e Numher:1V1966
�4?n .t�loigOf`BoodFekh ' mi�e'{� j ari�1�7 .+Cj(a�ggg �a'c..�.:�.� r""" ,����:: Gootl Faith EsBmate HUD-1
L�ar�es'{tyetEa�,fio'�In�,4�iease :r-"!t�ai �.":;;��k-�•--���o ,,, ",��v.'s�k.c� '�••�`�..g,'7F'i�;�`.
Our origination charge(InGudes Origination Point 1%or$4,000.00)54,000.00 s eai g4,000.00 g4,ppp,pp
Your creAtt or charge(points)for speciflc interest rote chosen ' a mz Eo.00 gp.pp
Youradjusted origination charges ♦ eos 54,OOO.DO 54,000.00
T2nsferFaxes r i2o3 $925.00 E925.00
. -, ..;' . . , __. . «� . ,.
Char�77ia�iri�l'o�al CanndEll��i�6Mp aie?f6i�+c�,:;,: ' "�:�t mr. • .._� "x'��� Good FaNh Estimate HUD-7
Govemment recording charges � ♦ isp� 592.00 8142.00
Title sarvices and lende�s title insuranca a iioi E1,800.00 5�,900.00
OwnKs tftle insu2nce t ttpJ $727.50 E727.50
App2isal fee i �
50.00
CredRreport s eos En.10 522.�0
Flood certificatlon ' r eo� g12.00 5�2.00
s
s
�
s
R
Y
C
R
f 'r���n`; „; � arxm� � � a � �+�
yr-; -r ,,,� q',�y,�7 zv,� g3 � 'Tot21�� 2.753.80 2.803.60
� i,�,y.��tk� ��:'� �w� .."" �`� L�`�:`
, -��_ �.��:��. �_�. �a��areaae�@tyreeh GFEa�dsFIUD-1 Cti�ggs� S 50.00 or 1.8%
.Ch�� �Ttltlt�an,Chen e�,a �'w..� y� T':'�`r�".': � ,�.'�`.,'��t.�.'��:�;_;y��,�'��:''� Good Faith Estlmate HUD-1
InNlaltlapositforyouresaowaccount s toot t2,375.80 E2,398.42
Daiy interest charges s aoi ia
ry
Homeownrls insurance s aro E1,805.00 51.687.54
•
x
s
♦
t
s
s
x
r
t
•
e
Loan Tertns
Your initiai loan amount is y100,000.00
Your loan term is 3.00 years
Your initlal interest rate is 4.000%
Your initial monthty amouM owed for principal,interes�and arry 51,911.621ncludes
mortgage insurence is . [X]Prinapal
[X]Interest
[j Mortgage Insurance
Can your iMerest rete rise? [X]No[]Yes,d cen rise to a ma�dmum of_%.The first change will be
on and dn change every after _
. Every change date,your iirterest rate pn increase or decrease
by_%.Wer Ne life M the loan,you Interest rete is pua2nteed to never
be lower than %or higher Man_%.
Even if you make payments on time,can your loan baiance riseT . [X�No.[]Yes,k can rise to a maximum of S
Even if you make payments on time,can your rtronthly amouM rnved for (X]Na[]Yes,the first increase ran be on and the monthy amount
printlpal,tnterest,anC mortpape insurance rise? owed can rise to E
The ma�dmum k can ever rise is to S
Dces your ban have a prepayment penalt�? [XJ No. []Yes,your maximum prepayment penalry is E
Does your ban have a balbon payment? []No. [XJ Yes,you have a balloon paymerrt of E380,302.02.
due in 3 yeaB on 6/1l2016.
. Total monNiy amount owetl induding escrow axount paymeMs []You do not have a monthly escrow payment for items,sueh as property
texes and homeowneYs insurancfl.You must pay these items directy yourself. -
(Xj You have an adtlitional rtwnMty escrow paymeM of$798.80
ihat resutts in a total initial monthry amouni owed ot 52,71 o.a2.This
indudes pri�dpal,Interest,any mortgage insurance,and arry items checketl Debw:
[%]Property taxes � [)C)Homeaw�ePs insurance
[]Flood insurance []
[1 []
Nots:Ifyou hava a�ry questions aboutthe SekiamaM Chergss and Loan Tarma Iistad on thb fortn,pleaae coMactyour lender.
Previous editions are obsolete HU0.1
,
CERTIFlCATION:I have carefuly reviewed y�e HUO-7 Settlament StatemeM antl to the best of my knowledge and belief,it Is a true and accurate sfatement of all
rflceipts and disbursements made on my account or by me in this transaction.I further certify fhat I have received a copy of HU0.1 Settlement Statement
SELLER'S ANDIOR BORROWER'S STATEMEN7 Sellefs and Borrowars signaW2 hereon acknowledges histtheir aDP��I of tax proratlons anA signmes their
understanding that prorations ware based on taxes for the preceding year,or estimates Por the curtent year,and in t�e event M any change for the curtent year,all
necessary adjustrnents must be made belwaen Seller and Bortower,likewise any detault in ddinquent taxes will be reimbursed to TNe Comparry by the Seller.
Trtle Compary,in ib capacity as Escrow Agent,is and has been authorized to deposft all tunds it receives in Nts transactbn in any Mandal inatitution,
whether afiliated or not Such finandal institution may provide TNe Company computer accounti�g and audit sarvices directly or through a separate entity which,
if affiliated wNh Title Company,may charge the financial institution reasonable and proper compensation therefore and retain any proHb therefrom.Arry escrow
fees paW by airy party involved in this transaction ehall only be for checkwritlng antl Input lo Me Computers,but rrot for aforesaid aaounting and auCit services.
TILe Company shall not be liable for arry interest or other charges on the eameat money and shail be under no duty to invast or reinvest Mids held by it at arry
time.Seilers and Borrowers hareby acknowledge and consent to the deposit of the eycrrny money in financial institutlons with whi�h Title Compairy has or may
have other bankinp relationships and further conserK to}he retention by Title Compeny andlor its aftlliates of any and all benefrts(tnduding advenfageous fnterest
rates on loans)TNe Compa�ry and/or its alfifiates may receive from such finandal institutions by reason of their maintenance of seid escrow accounts.
The Settlement Agent does not warrant or represent the aewracy o(infortnatlon provided by Nird parties,inGuding that infortnadon provided on the last
paga of thls HUD form or POC items,and the parties hold hamiless the serilement agent as to any inaccurocy of such matter.
The pardes heve read ihe above sentences,recpg�(ze}hat the recihations heretn are material,agree to same,and recagnize 7rtle Company is relying on
the aame.
PurchasersBortowers Sellers
1
Zdenko Gra
Kevin Talbot
. � ` �
KatarinaG Jca va Gayl,Talbot
To the best of my knowledge,ihe HUD•1 SeUlemeM Shatement whtch I have prepared is a true and accurate account ot the funds which wero receivetl and have
been or will be dfsbursed by the undersigned as part p(the settlement of this transaction.
�7
�� i �
/iG���� ����� � � 3
L�ntl�itle,Inc.(6 1)fi3&1900 Date
�
WARNING tt Is a crime to knowingty make false statemenis to the Untted States on this or any other similar form.Penalties upon c.onviction can InGutle a flne
anG imprlaonment Fordetails sea:TNe 18:U.S.Code Secdon�001 and Section 1010. �
POC(B)repreaents paid ovlsitle of dosing by Dortower,POC(S)rcpresents paltl outside of Gosinp by tlie seller,POC(l)represents paid outside of Gosing by
lender,and POC(M)mpresents paid outside of dosing by mortpage broker.