HomeMy WebLinkAboutUnrestricted Sale Certification ' , Fnst Ameriwn Ttle Company
•"` •,„ � 559 Five Citles Drive
's Pi5m0 Beadi,CA 93499
I First American Title ceos>»3-�00
-�<� Faz-(866)377-9649
City of Arroyo Grande April 26, 2013
300 E. Brench Street File Number: 4008-4342872 (sss)
Arroyo Grande, CA 934Z0
Attn: Steven Adams
Re: 482 Bakeman Lane
Property: 482 Bakeman Lane Arroyo Grende, CA 93420
Borrower: Ethan David Kuster and Nancy Wong Kuster
The above referenced transaction was recorded on April 26, 2013. Enclosed please find the following for your
records:
. Fully Executed CeRification
. Final HUD
Should you have any questions or need further assistance, please conWd the undersigned. lfchecksare
inc/uded!n thJs package,p/eare negodate as soon ar posslb/e.
Sin
Sa dra Souza
Esc icer
ssouza@firstam.com
sss/sss
Page 1 of 1
_,��;_CITV OF
" • • ' ' � . CITY OF
!�� � �1�ROYO � RA1�I D E
,;:
o'��:��;;°;,"�!��_ CALIFORNIA
April 23, 2013
Sandra Souza
First American Title Company
559 Five Cities Drive
Pismo Beach, California 93449
RE: 482 Bakeman Lane, Arroyo Grande, California ("Property")
Dear Ms. Souza,
Enclosed please find an Unrestricted Sale CeRification ("Certification") and a Full
Reconveyance Deed ("Reconveyance") regarding the above referenced Property. The
Certification will need to be executed by Jarrett R. Prichard and April D. Prichard
("Owners") and Ethan David Kuster and Nancy Wong Kuster ("Market Purchaser"). First
American Title Company ("FATCO") is hereby authorized to record the Reconveyance
upon the following:
;�� � FATCO has provided the City of Arroyo Grande ("City") with a true and correct
,�� �.d copy of the final fully executed purchase and sale agreement regarding the
� Property between Owner and Market Purchaser showing a purchase price of
$365,000;
� FATCO has provided City with a true and correct copy of the Final Settlement
Report regarding the purchase and sale of the Property between Owner and
Market Purchaser showing a purchase price of $365,000;
�3) FATCO has provided City with a fully executed original CeRification.
Please let us know if you have any questions or comments.
Sincerely,
Stev n Adams,
City Manager
CITY MANAGER'S OFFICE • 300 Eas[ Branch Stree[ • Arroyo Grande, Cali(ornia 93420
Phone: (805) 473-5400 • Fax: (805) 473-0386 • E-mail: agcity@arroyogrande.org • Websi[e: www.arroyogrande.org
UNRESTRICTED SALE CERTIFICATION
This Unrestricted Sale Certification ("Certification") is made and delivered by
Jarrett R. Prichard and April D. Prichard (collectively referred to herein as "Owner") and
Ethan David Kuster and Nancy Wong Kuster ("Market Purchaser") in favor of the City of
Arroyo Grande ("City") on this 25 day of a �I�— , 2013.
A. WHEREAS, on or about January 19, 2007, City and Owner entered into a
Buyer's Occupancy and Resale Agreement with Option to Purchase recorded in the
official records of the County of San Luis Obispo on January 19, 2007 as Document No.
2007004313 ("AgreemenY'); and
B. WHEREAS, City required owner to execute the Agreement as a condition
on Owner's purchase of the affordable housing unit commonly known as 482 Bakeman
Lane, Arroyo Grande, California, 93420 ("Property"), which Property is more particularly
described in Exhibit "A" attached hereto and incorporated herein by this reference; and
C. WHEREAS, the Agreement contains various provisions relating to
Owner's occupancy and resale of the Property in accordance with the City's Affordable
Housing Ordinance and prohibits Owner from selling the property to an individual who is
a Market Purchaser at an Unrestricted Price ("Unrestricted Sale"), as those terms are
deflned in the Agreement, except under certain limited circumstances; and
D. WHEREAS, Section 13 of the Agreement requires Owner to provide City
with certain documents prior to completing an Unrestricted Sale, including, without
limitation, a written certification from Owner and Market Purchaser in a form acceptable
to City that, among other things, ceRifies that the sale shall be closed in accordance
with the terms of the Agreement and the sales contract submitted to the City; and
E. WHEREAS, Owner and Market Purchaser have submitted with the City:
(1) an appraisal of the Property dated March 11, 2013 which states, as of March 1,
2013, the fair market value of the Property is $365,000; and (2) a final sales contract
and other related documents which state that the sales price of the Property is
$365,000; and
F. WHEREAS, this Certification is intended to satisfy the written certification
requirement set forth in Subsection 13(3) of the Agreement.
For good and valuable consideration, the sufficiency of which is hereby
acknowledged, Owner and Market Purchaser hereby certify and promise as follows:
i
1. Sale Closed in Accordance with Documents Submitted to Citv. The
Unrestricted Sale will be closed in accordance with the terms and conditions of all of the
documents submitted to and approved by City, including, without limitation, the final
sales contract and all other related documents which set forth the terms of the sale of
the Property.
2. No Additional Consideration. Neither the Market Purchaser nor any other
party has paid or will pay Owner and Owner has not and will not receive from Market
Purchaser or any other parry, money or other consideration, including personal
property, for the Property over and above the $365,000 sales price as set forth in the
final sales contract and other related documents submitted to the Ciry.
3. Unauthorized Transfer. In the event that the Property is transferred in
violation of the terms of the Agreement or false or misleading statements are made in
any document submitted to the City by Owner or Market Purchaser in violation of the
terms of this Certification, City has the right to refuse to reconvey the liens of the
Agreement and Deed of Trust, foreclose on the Property or file an action at law or in
equity as it deems appropriate. Owner and Market Purchaser shall indemnify, defend
and hold the City and its o�cials, employees, and agents ("City Parties") harmless and
reimburse City Parties' for any and all expenses, legal fees and costs for any action City
Parties reasonably take in good faith in enforcing the terms of the Agreement or this
Certification. Any costs, liabilities, or obligations incurred by Owner or Market
Purchaser associated with the return of any moneys paid or received in violation of the
Agreement shall be borne exclusively by the Owner and/or Market Purchaser.
4. Limitation. Acceptance of this Certification by City shall in no way operate
to prohibit City from taking the position that the requirements for an Unrestricted Sale
under the terms of the Agreement have not been satisfied or to reject any
documentation provided in accordance with Section 13 of the Agreement as
unsatisfactory.
5. Construction. This Certification shall be governed by and construed in
accordance with the laws of the State of California. This Certification has been
reviewed and negotiated by City, Owner and Market Purchaser at arms' length with the
benefit of or opportunity to seek the assistance of legal counsel and shall not be
construed against either party. The titles and captions of this Certification are inserted
for convenience only and in no way define, limit, extend or modify the scope of intent of
this Certification.
6. Severabilitv. If any section or provision of this Certification is declared
invalid or unenforceable by any court of competent jurisdiction, said determination shall
not affect the validity or enforceability of the remaining tertns hereof. No such
2
determination in one jurisdiction shall affect any provision of this CeRification to the
extent it is otherwise enforceable under the laws of any other applicable jurisdiction.
SIGNATURES TO FOLLOW ON NEXT PAGE
3
IN WITNESS WHEREOF, Owner and Market Purchaser have executed this
Certification as of the day and year first written above.
MARKET PURCHASER: OWNER:
� iL�
Ethan David Kuster J rett R. Prichard
�
����
Nancy Wong Kuster April D. Prichard
a
Exhibit "A"
The land referred to herein below is situated in the City of Arroyo Grande, County of
San Luis Obispo, State of Califomia, and is described as follows:
Lot 23 of Tract No. 2310-2, in the City of Arroyo Grande, County of San Luis Obispo,
State of California, according to the map recorded May 23, 2006 in Book 28, Page 45 of
Maps, in the office of the County Recorder of said County.
APN: A portion of 077-255-001 (old), 077-255-024 (new)
s
UNRESTRICTED SALE CERTIFICATION
This Unrestricted Sale Certification ("Certification") is made and delivered by
Jarrett R. Prichard and Aprii D. Prichard (collectively referred to herein as "Owner") and
Ethan David Kuster and Nancy Wong Kuster ("Market Purchase�') in favor of the City of
Arroyo Grande ("City") on this 25 day of A�P(C l� , 2013.
A. WHEREAS, on or about January 19, 2007, City and Owner entered into a
Buyers Occupancy and Resale Agreement with Option to Purchase recorded in the
official records of the County of San Luis Obispo on January 19, 2007 as Document No.
2007004313 ("AgreemenY'); and
B. WHEREAS, City required owner to execute the Agreement as a condition
on Owners purchase of the affordable housing unit commonly known as 482 Bakeman
Lane, Arroyo Grande, California, 93420 ("Property"), which Property is more particularly
described in Exhibit "A" attached hereto and incorporated herein by this reference; and
C. WHEREAS, the Agreement contains various provisions relating to
Owners occupancy and resale of the Property in accordance with the City's Affordable
Housing Ordinance and prohibits Owner from selling the property to an individual who is
a Market Purchaser at an Unrestricted Price ("Unrestricted Sale"), as those terms are
defined in the Agreement, except under certain limited circumstances; and
D. WHEREAS, Section 13 of the Agreement requires Owner to provide City
with certain documents prior to completing an Unrestricted Sale, including, without
limitation, a written certification from Owner and Market Purchaser in a form acceptable
to City that, among other things, certifies that the sale shall be closed in accordance
with the terms of the Agreement and the sales contract submitted to the City; and
E. WHEREAS, Owner and Market Purchaser have submitted with the City:
(1) an appraisal of the Property dated March 11, 2013 which states, as of March 1,
2013, the fair market value of the Property is $365,000; and (2) a final sales contract
and other related documents which state that the sales price of the Property is
$365,OOO; and
F. WHEREAS, this Certification is intended to satisfy the written certification
requirement set forth in Subsection 13(3) of the Agreement.
For good and valuable consideration, the sufficiency of which is hereby
acknowledged, Owner and Market Purchaser hereby certify and promise as follows:
i
,
1. Sale Closed in Accordance with Documents Submitted to Citv. The
Unrestricted Sale will be closed in accordance with the terms and conditions of all of the
documents submitted to and approved by City, including, without limitation, the final
sales contract and all other related documents which set forth the terms of the sale of
the Property.
2. No Additional Consideration. Neither the Market Purchaser nor any other
party has paid or will pay Owner and Owner has not and will not receive from Market
Purchaser or any other party, money or other consideration, including personal
property, for the Property over and above the $365,000 sales price as set forth in the
final sales contract and other related documents submitted to the City.
3. Unauthorized Transfer. In the event that the Property is transferred in
violation of the terms of the Agreement or false or misleading statements are made in
any document submitted to the City by Owner or Market Purchaser in violation of the
terms of this Certification, City has the right to refuse to reconvey the liens of the
Agreement and Deed of Trust, foreclose on the Property or file an action at law or in
equity as it deems appropriate. Owner and Market Purchaser shall indemnify, defend
and hold the City and its officials, employees, and agents ("City Parties") harmless and
reimburse City Parties' for any and all expenses, legal fees and costs for any action City
Parties reasonably take in good faith in enforcing the terms of the Agreement or this
Certification. Any costs, liabilities, or obligations incurred by Owner or Market
Purchaser associated with the return of any moneys paid or received in violation of the
Agreement shall be borne exclusively by the Owner and/or Market Purchaser.
4. Limitation. Acceptance of this Certification by City shall in no way operate
to prohibit City from taking the position that the requirements for an Unrestricted Sale
under the terms of the Agreement have not been satisfied or to reject any
documentation provided in accordance with Section 13 of the Agreement as
unsatisfactory.
5. Construction. This Certification shall be governed by and construed in
accordance with the laws of the State of California. This Certification has been
reviewed and negotiated by City, Owner and Market Purchaser at arms' length with the
benefit of or opportunity to seek the assistance of legal counsel and shall not be
construed against either party. The titles and captions of this Certification are inserted
for convenience only and in no way define, limit, extend or modify the scope of intent of
this Certification.
6. Severabilitv. If any section or provision of this Certification is declared
invalid or unenforceable by any court of competent jurisdiction, said determination shall
not affect the validity or enforceability of the remaining tertns hereof. No such
2
determination in one jurisdiction shall affect any provision of this Certification to the
extent it is otherwise enforceable under the laws of any other applicable jurisdiction.
SIGNATURES TO FOLLOW ON NEXT PAGE
3
IN WITNESS WHEREOF, Owner and Market Purchaser have executed this
Certification as of the day and year first written above.
MARKET PURCHASER: OWNER:
� C �� ��
Ethan avid er J rett R. Prichard
�'�To„ .�. 7� f�.�..fi.f �� /� I` �� - -
aN hcydJVong Kuster Aprd D. Prichard
a
Exhibit "A"
The land referred to herein below is situated in the City of Arroyo Grande, County of
San Luis Obispo, State of California, and is described as follows:
Lot 23 of Tract No. 2310-2, in the City of Arroyo Grande, County of San Luis Obispo,
State of California, according to the map recorded May 23, 2006 in Book 28, Page 45 of
Maps, in the office of the County Recorder of said County.
APN: A portion of 077-255-001 (old), 077-255-024 (new)
s
` •n���� •�° A. Settlement Statement (HUD-1)
�� illull� ,�
OMB mval No.2502-02&S
B. Type of Loen
First American Title Company 13 `°�+T'�. c°"".'"5.
Final Statement 6. FleNumber aW&d�d2B72
7. Loan NumDer.81295335
8. MortpepelriwranwCaseNUmber.
C. NOtB: 7AU lortn o lum5�etl to prve you B Statemfnt o�actual xnlemmt ms6- Mwunb paitl to aM Ey iM seltlemdn apem ara stnwn.Ilmn rtaM1etl yPOC�'were pad au6iEa Nb cbsinp, Iliey Bre slqwn
�EfB�0��nlomlaY0n21 3n0 atB no�NCNEeE N II�B 10�214.
D. Neme 8 Address ol Bortower. Ethan David Kuster,Nancy Wong Kuster
482 Bakeman Lane,Arroyo Grande,CA 93420
E. Neme 8 Addrese ol Seller.Jerrelt Pdchard,Apnl Pricherd _ ,•., ,a�
fhn undersi ncc Fareby cer.r,,�s:��this s -��:-_�
407 Bakeman Lane,Arroyo Grande,CA 93420 9 .+
,.,,�o- �n�l cocu-�ers or irsv�r�e���.
F. Neme 8 Addrese ol Le�er. Prospect Morlgage,LLC FIRST AME ' ITLE COFA7A11Y
15301 Ventura Boulevard,Suite D300
Shermen Oaks,CA 91403 �-'
G. Pmperry Lacatlon: 482 Bekemen Lene,Arroyo Grende,CA 93420 y - --
H. Settlement Agent:Firsl Americen Title Company (805)773-6600 �•
Addreae:559 Five Cities Drive,Pismo Beach,CA 93449 Settlemem Dete: aa2a2oi3
Prin�Dete: Od12612013,11:68 AM
Plece of Settlemenl Addiess:559 Five Cities Dnve,Pismo Beach,CA 93449 Disbursemam Dam: oa7262a�3
SI nl Dete:
J. Summary ol Bortowels Transeclion K. Summery ol Sellefs TiensecHon
100. OrossAmount DuehomBortower <OD. 6rossAmount DuetoSeller
10t. Can2a Salas Pnce 765.ODD 00 AOi. Conuacl salw Cnce 965.00000
i02. Penonal D�oPerry A02. PenaW D�Den
103. Seniement charpes to Dortower Qirre 1d00) 30.293.13 A03. Toiel DepOSns
107. �.
I W. �.
AE'ustrnents Mr items � b seller in eMence Ad ualmenta la Itams ald seller In etivence
iW Cn �owntaxes 406. C� nownlaxes
IW. Carn taaes OCl2N131o07/01/1J9498W. 657.34 n07. Coun tazes OCI1d131oW/01/13057640. r fi573d
108. ASSPSSmenls dOB. ARSE45manis
109. �.
ItO. 410
1 I I. 411.
112. 412.
117. 413-
na. aia.
ns. ais.
120. Gross AmouM Due hom Bortower 395 850.47 420. Gross Artrount Due to Seller 385 857.34
2pp. Mqunb Peid b a on Behe1101 Bortower 500. Reduqions In Artqimt Dua lo Seller
201.'Deposn or eamesi mmey a7,926.79 507. Excess tleposit(sea ir�stNCUOns)
202. PnnaD�&^a+m ol new loanls) 346.750.00 502. Selllemanl cherpes lo sHler pine I400) 45,341.79
203- Ensl Ioanls��akmsuqea 503. Exieuripioanls�lakensub�ecl
204. "Sei�er Patl Cam 7ra�51er T�a 974.00 SOa.'PayoN o1l�rsl mortgape loan to WeIU Fargo Hpne Monpape 2a4,23d.66
205. "Sei�er Pad Ownen 7�Ile Pdi 1.168.00 505. Pa dl d sMMtl monpapa loan
ppfi. SOB. 'Btller Paltl Camy Trar�slerTexes 37a,00
qp�, 507. "SHler Paid O�mers Tnle Pdi 7.76800
208. �.
209. `�.
Atl ustrnenb for IOemq u b seller AdusUnerit9la itama u ' b seAer
2t0. CnyAOwntexes 510. Ciry�owntazes
2N. Canlytaxes slt. Can iaKes
212. As�eumenls 512. Assessmenls
213 513.
2ta_ sia.
215. 515.
2t6. 518-
217. 517.
2�8. S1B-
219. 579.
220.Toml Peld b lla Borrower 398218.79 520. Totel Reduqbn Amount Due Seller 281,118.0.5
300. Cash et SettlemenllmrtJto Borrower 600. Cesh et SeNement tdhom Seller
301. Grmsamwntduelrombortower�hrre 120) 995,950.a7 60L Grossarnantduetosellerpinea20) 365.657.Y1
302. Lese amams paC bytlor 0ortower(hire 220) 3%2te 79 602. Less reEunims in amoums we seiler pine 520) 29t.ttB a5
303. Cesh( From)(X To)Bortower 268.32 803. Cesh(%To)( From)Seller 74,538.89
Pravious etlilions ere obsolete.
'See Supplemental Pege lor deteils. "Peitl on Behall ol Borroxrer. POC-B(Bonower);POGS(Selle�;POC�L(LerMer);POGMB(Mortpaga Broker�.
The Public Repalinp Buben lor Ihis colleaion ol inlormatlon is estimete0 at 35 rtunNes per response la colleclinp, reviewrtig, enG reponi�p the tlata.This epan�y may not oollect Ihis
inlormelion,antl you ere nol required to oomplete ihis lorm,unless n 0isplays e cunently valid OMB control number.No confidenlialiry is eswre0;I�is disdosure a rtaiMalory.This is desipnetl to
provitle Iha peNes to e RESPA oweietl trensepion with inlormation durinp Ihe Setllement proc255.
Pape 1
File No. 4008-4342872
L.Sen�ement cha es
700. Tdel Reel Eatete Broker Fees 520,075.00 Peld From PeIE From
DNision oi comm�ssion pine 700)es tollovrs: Bortowefa Sellere
701.$10,950.00 to Peterson Team Realry Fu�s Funds
702.$9.125.00 lo Century 21 Hometown Reely et SeNement et Sememem
703.Commission peid el senlemem 20,075.00
700.
705.
706.
800. ItemS PB ble In ConnBdion wilh LoBn
BO1.Ouron inetionMer e S1,d20.00 U�GFEat)
802.Your aedit or char e ints lor Ihe 5 lic interesl rate chosen �$565.00 (�rom GFE a2)
803.Your ed�usted ori ina6on char es to Pras ecl Mon a e,LLC (lmm GFE A) 855.00
804. reisel lee lo C2C reisal Services (lrom GFE a3) 495.00
805.Credit re A (lrom GFE p3)
806.Te�service lo C2C Qmm GFE x3) 66.00
807.FIOOd C6rtiliwlim (Irom GFE N3)
gpg, (Irom GFE p7)
gpg, (Imm GFE N9)
810. (Irom GFE p9)
811. (lrom GFE p3)
900. Itams uired b Lentler to Be Peld In Advence
901.Dail intere5l elie es Irom Oal2f✓13 t00y01/13�337.323B00.�da to Pr act Mon e e,LLC (Irom GFE q10) 188.82
902.MI Paid in Cesh lo GenvroAh Mort a e Insure�e (lrom GFE a3) 7,559.15
903.Homeowners insurer�ce lor 1 eer s to Slate Ferm (Irom GFE a1 t) 483.00
904.
9U5.
906.
1000.Reserves De ted vAth Lender
i001.Initial tleposn lor your escrow eccounl (1rom GFE a9) 1,261.36
1002.Homeownels insurence 3 mo�s)�Sd025lmo 5120.75
1003.Monpepe inwrence
1004.Properry texes a mo(s)�538021Imo 51,520.84
1005.
1006.
1007.Agprepeta Adjustment �$38023
1100.rroe che s
t 101.Tiile services and IeMefs tille insurance (lmm GFE xa) 1,373.50
t 102.Semement or dosi lee Sm.50 SOZ50
lo First Amencen Title Com en
1103."Ownefs litla insurBnCB •Firs1 Ameriten Title Can en prom GFE MS) 1,227.00
1100.LeiMers title insurence -First Americen Title Cam n $52t00
1105.LeMefs title li limil S 346.750.00
1106.Ownefs�itla �i limit $ 365,000.00
1107.A nfs rtion ol t�e IWeI litle insure�e remium $ 1223.60
to Firs�Americen Title Com en
1108.UrMetwritefs tlion ot tolel tAle insurenCB rBmium $ 524.40
to Firsl AmenCen 7itle InsurenCe CA an
1109.Nota Fee 5 to Firsl Americen Title Company ���
1110.Note ISipning Fee to 575.00
11tt.
1112.
1200.Govemmem Reoord�n enA T�ensler Che es
1201.Gwemment reCOrtlin die es (lrom GFE p7) 82.0p
1202.Recwdi lees:Deed$17.00 Moh a B$65.00 Rel88se$0.00
1203.Trensler texes (lmm GFE MB) 401.50
i204.Ci laoun p�/stem s:Deetl$401.50 Mon a e 30.00
1205.State lar/starn s:
1206.Recortl Full Reconve nce ����
izo�.
izoe.
izos.
izio.
1300.Atld'NOnal Settlement Cl�e es
1301.R uired services ihal can s lor Ifrom GFE a8)
1302.Pesl I ction to Cenirel Coasi Termite POC�54125.00
1303.Home Werren lo Ftlel Netional Home Wenan ���
1304.NHD lo Distlosure Source 89.00
1305.Pa If Auro Loen lo HaMe Finendel 16•���
1306.Pe tlloChase Disne 2•�ZS.&5
t307.Pa HloChese Slete t8,5W.58
1308.Pa H lo Chese CeN Services 5 03a.86
1309.
1a00.Tatel Senlement Cher eMer on lures 103 Section J eiM 502 Sectlon 30 283.13 45 341.78
'See Supplemen�el Pege loi tletails. "Peitl on Behell ol Borrower. POGB(Bonower);POC-S(Seller);POC-L(Lentler�;POC�MB(MOnpepe Broker�.
Pepe 2
• File No. 400�4342872
Can �onolGood Feith Eslvnete GFE end HUD-1 Che es Good Feuh Estlmate NUPt
Che s Thet Canrrot Inaeese HU61 Liire Number
Ourori inationcha e X B01 1.420.00 1,420.00
Your cradit/char e( ints)for the speolic interest ra�e chosen q B02 -��� •���
Your adlusted ongination charges N B03 ��� ���
Trenslertaxes p 1203 401.50 401.50
Che s That In Tdel Cenrrot Inaease More Then 109G Good Faith Estlmate NU61
Govemment recordin char es M 1201 113.00 82.00
Appraisallee M 804 575.00 495.00
Tex service M 806 66.00 66.00
MI Peid in Cash M 902 7,455.13 7,559.15
Title services end lentlefs title insurance M 1101 2.125.00 1,373.50
Ownefs litle inwrence a 1103 1.227.00 1.227.00
q
p
TMeI 17 561.19 10 802.65
IrMrease betxreen GFE eiM HU0.1 C es �S75B.48 or �6.5606%
Che s Thel Cen Che Good Fetth Estimete NU0.1
Initieltle sillor ourescroweccount N 1001 2,584.68 1,261.36
Dail interestcharpes a 901 �337.323BONtla 37.32 186.62
Homeowners insurence N 903 1.213.63 483.00
q
p
p
Loen Tertns
Your InNel ben emount Is S 346.750 00
Yar loen term Is 30 years
Your initiel interest tata is 3.8750 h
Your InNel monlhly ertrount axetl lor prindpel,interesl,Bnd eny $1,630.55 indWes
mMpape Inwrence Is � Principal
� imerest
� Morlgage Insurance
Cen your Interest rete risa? � No. � Yes,it can rise to e marimum o10.0000%.The first charige vnll
be on and can change egain every afler.Every
chenge date,your interest rete can inttease or deneese by 0.00000°�.Over t�e lile
ol Ihe loan,your interast rete is puerenteed to never be lower than 0.0000°� or higher
than 0.0000°b.
Even il you make Deymen5 on tlme,can/our loen belance rise7 � No. � Yes,it can nse to a maximum ol S.
Even if you meke peymenb on tlme,mn your rtronthty ertaunt oweE � No. � Yes,tha first increase can be on and�he monthty amounl
ta pdndpel,imeresl,arM mortgege insurence nse? owed cen nse to S 0.00.
The mazimum il can aver rise to is$0.00.
Daes your loen heve e prepeyment penellyt � No- � Yes.your mazimum prepayment penalry is$0.00.
Daes yaur ben heve e belloon paymenY? � No � Yes,you have a balloon payment ol$0.00 tlue in
0 years on.
Totel rtqnihy ertwunl avetl Iriduding escrow eaoum peyments � You do not have e monthly escmw payment lor ilems,wch as proparry taxes and
homeownefs insurence.You must pay thase items direcUy yroursell.
� You have en edditional rtanthty ascrow payment of$420.46 thal resulls in a
tofel in�tial monthly amount owed o1 S 2,057.01.This inUudes pnxipal,interasi,
eny mortpage insurerroe an0 any items checked below:
� Properrytaxes � Homeownefsinsurance
� FloadinsuranCe �
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Note:II you heve any quesuons about the Settlement Cherges and Loan Tertns listed on this lortn,pleese contact your lender.
Pape 3
. Fle No.
' Supplementel Page 4008-4342872
HUD-1 Settlement Statement
First American T'�tle Company '-°B""°.
Final Statement 8�295335
Settlement Date:
04l26/2013
Bortower Neme 8 Addresa: Elhan David Kuster,Nancy Wong Kuster
482 Bakeman Lane,Arroyo Grande,CA 93420
Seller Neme 8 Address: Jartetl Pricherd.April Pricherd
407 Bakeman Lene,Arroyo Grande,CA 93420
PeiE From Peid From
Sectlm L Settlement Che�ge9 mritlnuetl Bortowefa FuMS Sellets FuiMs
e�sett�ement ei sememem
SectlonJ. SummeryolBorrowers7ransectioneontlnuetl
1 W. Gross Amoum Due From Bortower Borrower Cherpes Bortower CredAs
200. Mqunts Pald By Or In BeAeN al Bortower
201. SupplBmeMel Summery $47.928.79
a.Eemest Money Deposit 3.���
b.FunAS For Closing 44.526.79
SectlonK. SummeryolSellefa7�Bnsed'roncontlnuetl
400. Gfo59Am0un�DueToSeller S811erCha�pes SBII9rCretliL9
SW. ReducUOn5lnMquntDuetoSeller
5p4. Su�plemeMel Summery S2A4,23C.96
e.Peyoll Loen 1 Cherges
Printlpel BalanCe to WellS Fa�go HomB Mongage 2�3.308�86
Inlerest on Payofl Loen OW01113 to OM36�13 0529.16000dtlay 874.80
Oblipetion Fee ���
Recordinp Fee Z���
The lollowin Sectlon Is resteted Irom the SeNemem Stetemem Pe e 1
300. Cash et Settlemenl homRo Borrower 600. Cesli et Settlemem lMrom Seller
301. Gross emount tlue Imm bortower(line 120) 395,950.<7 fi0t. Gross emount tlue lo seller(line 020) 365,657.34
302. Less emounts peitl by/la borrower(line 220) 3962�8.79 602. �ess reAuclions in amounts due selier(hne 520) 291,i 1B.d5
303. CB51i( Fmm)(%To)Boimwer 288.32 603. Cesh(X To)( Fran)Seller 74.53B.B9
Pepe a