← 428 Cross St, Akron, OH 44311 · All properties

Closing Statement - 428 Cross St, Akron, OH 44311.pdf

This page is a searchable text preview. Use the Dropbox link for the full original file.

Open full file in Dropbox

What This File Appears To Be

OMB NO. 2502-0265 A. B. TYPE OF LOAN U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT SETTLEMENT STATEMENT C. NOTE: 1. FHA 2. FmHA 3. X Conv. Unins. 4. 6. FILE NUMBER: 21-2278 8. MORTGAGE INS CASE NUMBER: VA 5. 7. LOAN NUMBER: This form is furnished 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 informational purposes and are not included in the totals. 1.0 D. NAM

Text Preview

OMB NO. 2502-0265
A.

B. TYPE OF LOAN
U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT

SETTLEMENT STATEMENT

C. NOTE:

1.

FHA

2.

FmHA 3. X Conv. Unins. 4.

6. FILE NUMBER:
21-2278
8. MORTGAGE INS CASE NUMBER:

VA

5.

7. LOAN NUMBER:

This form is furnished 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 informational purposes and are not included in the totals.
1.0

D. NAME AND ADDRESS OF BUYER:
Lofty Holding 428 Cross Street LLC
11718 Folkstone Lane
Los Angeles, CA 90077

E. NAME AND ADDRESS OF SELLER:
Julius Patrick Industries, LLC
5845 Elm Hill Drive
Solon, OH 44139

G. PROPERTY LOCATION:
428 Cross Street
Akron, OH 44311
Summit County, Ohio

H. SETTLEMENT AGENT:
Terra Blue Title Agency, LLC
PLACE OF SETTLEMENT:
27629 Chagrin Boulevard, Unit 106
Woodmere, OH 44122

J. SUMMARY OF BUYER'S TRANSACTION
100. GROSS AMOUNT DUE FROM BUYER:
101. Contract sales price
102. Personal property
103. Settlement charges to buyer (line 1400)
104.
105.
Adjustments for items paid by seller in advance
106. City/Town taxes
107. County taxes
108. Assessments
109.
110.
111.
112.
120. GROSS AMOUNT DUE FROM BUYER
200. AMOUNTS PAID BY OR IN BEHALF OF BUYER:
201. Deposit or earnest money
202. Principal amount of new loan(s)
203. Existing loan(s) taken subject to
204.
205.
12/31/21-12/31/21
206. Rent
207. Rent Deposit
208. Prepaid Rent
209.
Adjustments for items unpaid by seller
210. City/Town taxes
01/01/21 to 12/31/21
211. County taxes
212. Assessments
213.
214.
215.
216.
217.
218.
219.
220. TOTAL PAID BY/FOR BUYER
300. CASH AT SETTLEMENT FROM/TO BUYER:
301. Gross amount due from Buyer (Line 120)
(
302. Less amount paid by/for Buyer (Line 220)
303. CASH FROM BUYER

220,000.00
3,042.00

223,042.00

74.71
1,500.00
1,566.00

2,811.24

5,951.95
223,042.00
5,951.95 )
217,090.05

Conv. Ins.

3/98

(21-2278 / 11)

F. NAME AND ADDRESS OF LENDER:

83-1130039

I. SETTLEMENT DATE:
December 29, 2021
DISBURSEMENT DATE:
December 30, 2021

K. SUMMARY OF SELLER'S TRANSACTION
400. GROSS AMOUNT DUE TO SELLER:
401. Contract sales price
402. Personal property
403.
404.
405.
Adjustments for items paid by seller in advance
406. City/Town taxes
407. County taxes
408. Assessments
409.
410.
411.
412.
420. GROSS AMOUNT DUE TO SELLER
500. REDUCTIONS IN AMOUNT DUE TO SELLER:
501. Excess deposit (see instructions)
502. Settlement charges to seller (line 1400)
503. Existing loan(s) taken subject to
504. Payoff of first mortgage loan
505. Payoff of second mortgage loan
12/31/21-12/31/21
506. Rent
507. Rent Deposit
508. Prepaid Rent
509.
Adjustments for items unpaid by seller
510. City/Town taxes
01/01/21 to 12/31/21
511. County taxes
512. Assessments
513.
514.
515.
516.
517.
518.
519.
520. TOTAL REDUCTION AMOUNT DUE SELLER
600. CASH AT SETTLEMENT TO/FROM SELLER:
601. Gross amount due to Seller (Line 420)
(
602. Less reductions due Seller (Line 520)
603. CASH TO SELLER

)

Printed on 12/29/21 at 10:32:21AM 21-2278/11
HUD-1, Page 1

L. SETTLEMENT CHARGES
700. TOTAL COMMISSION Based on Price
$
@
%
Division of Commission (line 700) as Follows:
701.
to
702.
to
703. Commission Paid at Settlement
704.
to
800. ITEMS PAYABLE IN CONNECTION WITH LOAN
801. Loan Origination Fee
% to
802. Loan Discount
% to
803. Appraisal fee
to
804. Credit report
to
805. Lender's inspection fee
to
806. Mortgage insurance application fee
to
807. Assumption fee
to
808.
to
809.
to
810.
to
811.
to
900. ITEMS REQUIRED BY LENDER TO BE PAID IN ADVANCE
$
/day ( 2 days
901. Interest From 12/30/21 to 01/01/22 @
%)
902. Mortgage insurance premium for
month to
903. Hazard insurance premium
for
year to
904.
for
year to
905.
to
1000. RESERVES DEPOSITED WITH LENDER
Months
1001. Hazard insurance
@ $
per Month
Months
1002. Mortgage insurance
@ $
per Month
Months
1003. City property taxes
@ $
per Month
Months
1004. County taxes
@ $
per Month
Months
1005. Annual assessments
@ $
per Month
Months
1006.
@ $
per Month
Months
1007.
@ $
per Month
Months
1008.
@ $
per Month
1100. TITLE CHARGES
1101. Closing Fee
to Terra Blue Title Agency, LLC
1102. Search Fee
to Terra Blue Title Agency, LLC
1103. Title examination
to
1104. Commitment Fee
to Terra Blue Title Agency, LLC
1105. Conditional Filing Fee
to Terra Blue Title Agency, LLC
1106. Notary fees
to
1107. Attorney Fee
to Abbie B. Leska, Esq
(includes above item numbers:
1108. Owner's policy premium
to Terra Blue Title Agency, LLC
(includes above item numbers:
1109. Lender's coverage
$ 220,000.00
1,177.50
1110. Owner's coverage
1111.
to
1112.
to
1113.
to
1200. GOVERNMENT RECORDING AND TRANSFER CHARGES
$ 34.50; Mortgage
1201. Recording fees: Deed
;
Releases
$ 880.00 ; Mortgage
1202. City/County tax/stamps:
Deed
1203. State tax/stamps:
Deed
; Mortgage
1204.
to
1205.
to
1300. ADDITIONAL SETTLEMENT CHARGES
1301. Survey
to
1302. Pest inspection
to
1303.
to
1304.
to
1305.
to
1400. TOTAL SETTLEMENT CHARGES (Enter on Lines 103, Section J and 502, Section K)
Certified to be a true copy.

PAID FROM
BUYER'S
FUNDS AT
SETTLEMENT

PAID FROM
SELLER'S
FUNDS AT
SETTLEMENT

350.00
350.00
100.00
50.00
100.00
)
1,177.50
)

34.50
880.00

3,042.00

TO THE BEST OF MY KNOWLEDGE, THE HUD-1 SETTLEMENT STATEMENT WHICH I HAVE PREPARED IS A TRUE AND ACCURATE ACCOUNT OF THE FUNDS
WHICH WERE RECEIVED AND HAVE BEEN OR WILL BE DISBURSED BY THE UNDERSIGNED AS PART OF THE SETTLEMENT OF THIS TRANSACTION.
Terra Blue Title Agency, LLC, Settlement Agent
WARNING: IT IS A CRIME TO KNOWINGLY MAKE FALSE STATEMENTS TO THE UNITED STATES ON THIS OR ANY SIMILAR FORM. PENALTIES UPON
CONVICTION CAN INCLUDE A FINE AND IMPRISONMENT. FOR DETAILS SEE: TITLE 18 U.S. CODE SECTION 1001 & SECTION 1010.

Printed on 12/29/21 at 10:32:21AM 21-2278/11
HUD-1, Page 2