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Home My WebLink AboutSETTLEMENT STATEMENT - M19-00107 - Ricks - 3731 Cedar Cove - New SFROMB Approval No. 2502-0265 A. Settlement Statement (HUD -1) 100. Gross Amount Due From Borrower B . Type of Loan 1. []FHA 2. ORHS 3. ❑Cony. Unins. 6. File Number: 7. Loan Number: 8. Modgaga Insurance Case Number. 4. OVA 5. �Conv. Ins. 443171 104. C. Note: Thisfonn isfumished logiveyoua statementof actualsetflement costs. Amounispaid loand was sedlementagenl areshown. Items marked"(p.o.c.)'were paid outsidethe closing;lheyare shown here for intonational purposes and are not included in the Iotas. D. Name & Address of Borrower: E. Name & Address of Seller. F. Name & Address of Lender DANNY RICKS AND ANGELA RICKS SORENSEN BROTHERS, LLC, AN IDAHO LIMITED LIABILITY 401 E APPALOOSA DRIVE COMPANY 109, SUGAR CITY, ID 83448 154 S 3RD W 111. REXBURG, ID 83440 112. o Properly Location; H. Setlemenl Agent ALLIANCE TITLE & ESCROW CORP. I. SeNement Date / Disbursement Dale TBD CEDAR COVE REXBURG, ID 83440 (MADISON) 130 E MAIN ST., REXBURG, ID 83440 (208)356-9323 7/5/2019 / 7/5/2019 Place Of Settlement: 130 E MAIN ST., REXBURG, ID 83440 202. Principal amount of new loan (RPORVRK0030150) 203. Existing loan taken subject to (208)3569323 204. 100. Gross Amount Due From Borrower 101. Contract sales price $62,000.00 102. Personal Property 103. Settlement Charges to Borrower (line 1400) $268.13 104. 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 Borrower $62,266.13 200. Amounts Paid By Or In Behalf Of Borrower 201. Deposit or Earnest Money 202. Principal amount of new loan 203. Existing loan taken subject to 204. 205. 206, 207, 208. 209. Adjustments for items unpaid by seller 210. Citydown taxes 211. County taxes 1/1/2019 to 7/5/2019@$10.06/Year $5.10 212. Assessments 213. 214 215. 216. 217. 218, 219. 220. Total Paid By/For Borrower $5.10 300. Cash At Settlement From/To Borrower 301, Gross Amount Due From Borrower (line 120) $62,268.13 302. Less Amounts Paid By/For Borrower (line 220) $5.10 303. Cash QFrom [:]To Borrower $62,263.03 400. Gross Amount Due To Seller 401. Contract sales price 402. Personal Property 403. 404. 405. Adjustments for items paid by seller in advance 406. Cil /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 taken subject to 504. Payoff of first morl a loan 505. Payoff of second mortgage loan 506. 507. 508, 509. Adjustments for items unpaid by seller 510. Cilyllown taxes 511. County taxes 1/1/2019 to 7/5/2019 @ $10.06/Year 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 Deduction in Amt. Due To Seller (line 520) 603. Cash [:)To ❑From Seller Previous editions are obsolete Page 1 of 2 07/0512019 02:26 PM HUD -1 L. Settlement Charges 700. Total Real Estate Broker Fees $0 . v a Division of Commission (line 700) as follows: 701. _ �zvtl Mo. 702. 703. Commission paid at Settlement 704. BQa (terns".QaY.'a��fe.In,EC,onOecffgnkltJib`.LoanVIA 0- IVNMI'�:;:, 801. Our origination charge (from GFE #1) 802. Your credit or charge (points) forihe specific interest rate chosen (from GFE #2) 803. Your adjusted origination charges (from GFE A) 804. Appraisal Fee (from GFE #3) 805. Credit Report (from GFE #3) 806. Tax service to (from GFE #3) 807. Flood certification to (from GFE #3) 900�Itertr's°Regiif�ed ByLen`der`rTo Be PaldilrjpdYancer,:%x`;;`LM7`., ,;. `,2',.. `M.° x"q_ �.'r ..`_; ;�1"'r;'��1''' 901. Interest (from GFE #10) 902. Mortgage Insurance Premium (from GFE #3) 903. Homeowner's insurance (from GFE #11) 1000,Reserves,4DpPpslte<d Wgtfd{.ende4,%z�`s',`d;�✓�,...,u �i.°.°x:#q a.z� „: .r+,,�.,x �.rr, -.. 1001. Initial deposit for your escrow account (from GFE #9) 1002. Hmeowner's insurance 12 months @ per month 1003. Mortgage insurance 12 months @ per month 1004. Property taxes 12 months @ per month 1007. Aggregate Adjustment 1;700 °- - a - 1101. Title services and lender's title insurance (from GFE #4) $150.00 1102. Seltiement or closing fee to Alliance Title & Escrow Corp. 1103. Owner's title insurance to Alliance Title & Escrow Corp. (from GFE #5) 1104. Lender's title insurance to Alliance Title & Escrow Corp. 1105. Lender's fitle policy limit 1106. Owner's title policy limit $62,000.00 1107. Agenl's portion of the total title insurance premium to Alliance Title & Escrow Corp. 1108. Underwriter's portion of the total title insurance premium to First American Title Company 10O Goveinl'rje It Recortl(ng attd Ttansfe`fG,fiaTges ,. ' ", '' Irv"a �;'+",s�; ? ;moi'. M,N-,`'F+ �' 5�t z {+ i UN 1201. Government recording charges (from GFE #7) $19.50 1202 Deed $19.50 Mortgage $ Releases $ 1203. Transfer taxes (from GFE #8) 1204. City/County tax/stamps Deed $ Mortgage $ 1205. State tax/stamps Deed $ Mortgage $ 73Q,.A Itlpnaj;$eHlemen�CJler9es,°. ,mx��,a.,�ra`�E� .u,a..° �._° 1301. Required services that you can shop for (from GFE #6) 1302. Survey 1305. HOA Dues from 7-5 to 12-31 to River Rock Estates HOA $98.63 $98.63 1400. r r 5268.13 I have carefullyreviewed the HUD -1 Settlement Statement and to the best of my knowledge andbelief it is true and accurate statementof all receipts and disbursements made on my account or by mein this transaction. I further car* that I have received a copy of the HUD -1 Sentiment Statement. BORROWERS SELLERS Sorensen Brothers, LLC Cory Sorensen, Authorized Signer The HUD -1 Settlement Statement which have prepared is a true and accurate accounted this transaction. Ihave caused or 1 wal cause the funds to be disbursed in accordancewilh this statement. Date 7/5/2019 Previous editions are obsolete Page 2 of 2 07/05/2019 02:26 PM HUD -1 CONSUMER PROTECTION ALERT: Wire fraud activity is real and the real estate industry has been targeted! Alliance Title & Escrow Corp. does not deliver wire instructions via e-mail to you or your agent, without a verbal request and confirmation of receipt, to include verification of the accuracy of wire information. If you wish to wire funds for closing, please ask your escrow officer for wire account information and options to deliver that information to you. If you have already received wire instructions, please verify the accuracy of the account information with your escrow officer BEFORE wiring funds. Dann Ricks ArVgelaRfcks ALLIANCE 130 E Main St., Rexburg, ID 83440 (208)356-9323 Fax No. (208)356-9325 ESCROW CLOSING INSTRUCTIONS Escrow No. 443171 Date: July 5, 2019 To: Alliance Title & Escrow Corp. Before close of escrow Sorensen Brothers, LLC, an Idaho Limited Liability Company has or will deposit with you under these instructions the following: (X) Executed Warranty Deed 0 which you are hereby authorized and instructed to deliver, release and/or record when you have for the account of Seller Sixty Two Thousand Dollars and No Cents Dollars ($62,000.00) subject to any charges and/or credits authorized herein; AND Danny Ricks and Angela Ricks has or will deposit with you a cashier's check or other certified funds as required to comply with these instructions, and the following: 0 Earnest Money in the amount of 0 Proceeds of Loans (if any) in the amount of 0 You are hereby authorized and directed to use the funds and documents described above, when you are able to close in accordance with the instructions below: 1. When you are in a position to issue or have issued a policy (or policies) of title insurance insuring Buyer (or as otherwise hereinafter provided) in the form of an ALTA Standard Owners Policy in the amount of $62,000.00 on the real property described in Title Commitment No. 443171 which the undersigned have read and approved, which will show record title vested in: Danny Ricks and Angela Ricks, husband and wife free and clear of all encumbrances except for the insuring clauses, exceptions, exclusions, provisions and stipulations customarily contained in the printed provisions of such form and exceptions 2-21 as set forth in above referenced Title Commitment dated 6/24/2019 AND Deed of Trust/Mortgage executed by Danny Ricks and Angela Ricks, husband and wife for the payment of in favor of . Then you are instructed to disburse deposited funds pursuant to the Escrow Closing Statements(s) examined and approved by the parties hereto and by this reference made a part hereof. Proceeds of this escrow may be disbursed by your check payable to the respective parties, and your checks and documents may be mailed to the addresses set forth herein, OR delivered in accordance with the disbursement instructions attached. Escrow holder has been instructed to prepare certain documents in connection with this transaction which documents have been read and approved by the parties as to form, content and terms AND have been approved for use in this escrow: Warranty Deed 2. You are instructed to prorate as of Date of Deed Recording the following: Taxes And it is understood that the prorated charges shown upon the escrow closing statement are prorated as of that date. Assume a per diem basis (based on 365 days per year) in any prorate herein provided, and unless parties otherwise instruct you, you are to use the information contained in the last available tax statement, rental statement, or beneficiary's statement delivered into escrow for the prorated amounts provided above. It is understood and agreed that the real property tax proration herein is based on 2018 taxes in the amount of $10.06. The undersigned parties hereby affirm and agree that Escrow holder, its employees, agents or assigns have not made any warranties as to the accuracy of these tax figures. Further, the undersigned parties agree that should the actual tax and/or any subsequent tax, as shown in the tax statement(s) forwarded by the Assessor's office during the year of sale, differ from the figure represented in the closing statement, the parties will make adjustment between themselves, outside of this escrow. Escrow holder shall not be responsible or liable for any subsequent taxes that may arise as a result of real property taxes having previously been assessed as personal property taxes nor any reimbursements as required thereby. I/We the Buyer(s) acknowledge that we have been credited for a pro -rata amount of Seller(s) taxes for the current year based on the last available information. I/We hereby agree to pay said taxes when they become due and payable. Alliance Title & Escrow accepts no responsibility for and the undersigned hereby hold harmless Alliance Title & Escrow Corp. for the change in taxes levied from the previous year to the current year. If Seller(s) have given the Buyer(s) excess credit based on the estimate as compared to actual figures, Buyer(s) agree to reimburse the Seller(s) for the difference, outside of escrow. If Buyer(s) have not received enough credit based on the estimate as compared to actual figures, Seller(s) agree to reimburse Buyer(s), outside of escrow. Buyer(s) or Seller(s) agree to reimburse one another within ninety (90) days from the date tax notices are received. Seller(s) agree to promptly forward to Buyer(s) any tax bills received by Sellers(s) for the current year. Buyer Initials _/X/Seller Initials / 3. All water, water rights and utility charges and changes of ownership, if applicable (except for irrigation, sewer and/or trash assessments, if any) will be handled by the principals outside of this escrow. Escrow holder is not to be concerned with or responsible for transfer of keys and/or physical possession of the property. 4. Unless specifically provided elsewhere in these instructions, the cancellation, transfer or purchase of fire or other casualty insurance shall be handled by the parties outside of this escrow. 5. You are authorized to deduct from seller's proceeds any additional monies due on loan payoffs or other demands as necessary to effectuate title as described above, and seller agrees to reimburse you for any charges incurred by you in connection with obtaining said payoffs or demands. The parties understand that there may be adjustments on interest or unusual recording fees after the signing of these instructions. You are further authorized to deduct same from seller's proceeds and/or deduct from buyer's funds any payments made by you for said recording fees. 6. All money received by you in this escrow is to be deposited in your trust account pending closing. Seller and/or Buyer hereby acknowledge and consent to the deposit of the escrow money in financial institutions with which Escrow holder has or may have other banking relationships and further consent to the retention by Escrow holder and/or its affiliates of any and all benefits which may be received from such financial institutions by reason of their maintenance of said trust accounts. Unless otherwise specifically agreed, you may commingle funds received by you in escrow with escrow funds of others and may deposit such funds in a checking account with any federally insured bank. It is understood that you shall be under no obligation to invest funds deposited with you on behalf of any depositor, nor shall you be accountable to the depositor for any earnings or other incidental benefits attributable to the funds which may be received by you while you hold such funds. Escrow holder shall not be responsible for the penalties, or loss of principal or interest or any delays in the withdrawal of funds which may be imposed by the depository as a result of making or redeeming of the investment pursuant to our instructions, nor shall Escrow holder be liable for any loss or impaimtent of funds while those funds are in the course of collection or are on deposit in a financial institution if such a loss or impairment results from the failure, insolvency or suspension of financial institution, including any loss resulting from FDIC/FSLIC imposed regulations. 7. These instmctions are effective for 14 days from date hereof, and, thereafter, without written instructions to continue, you are authorized and instructed to cancel this escrow. I/We, jointly and severally, agree to pay your cancellation fee and all charges in connection therewith. In the event of cancellation of this escrow, all funds, except loan funds, shall be held subject to written cancellation instructions executed by all principals involved. 8. These escrow closing instructions may be executed in counterparts with like effect as if all signatures appeared on a single copy. 9. You are bound solely by the provisions set forth in these escrow instructions and the parties hereto understand that you are not a party to any Purchase and Sale Agreement, executed by the parties herein, and that said Purchase and Sale Agreement (and Amendments thereto, if any) is (are) not a part of these escrow closing instructions. You are to be concerned only in the performance of your duties in compliance with these escrow closing instructions. You are to assume no liability for the sufficiency or enforceability of any provisions in said Purchase and Sale Agreement. The undersigned hereby affirm that all of any terms and conditions contained in the Purchase and Sale Agreement have been met or waived to the complete satisfaction of the parties. 10. You are instructed to furnish to any broker or lender identified with this transaction or anyone acting on behalf of such lender, any information concerning this escrow upon request of said broker or lender. 11. Should any disputes arise between parties interested in property or funds covered by these instructions, you shall have the option to hold all matters pending in their then existing status or to join in or commence a court action, or to bring an action in interpleader, at your option. Upon your determination to hold this escrow open for determination of the rights of the parties, you will be relieved of all responsibility to proceed until the rights of the parties are settled to your satisfaction. Further, you as Escrow holder, shall be entitled to continue to so refrain to act until (a) the parties hereto have reached an agreement in their differences and shall have notified the escrow holder in writing of such agreement or (b) the rights of the parties have been duty adjudicated by a Court of competent jurisdiction. It is further agreed that in the event of any suit or claim made against you by either or both parties to this escrow or in the event any suit is instituted by you to resolve your responsibility regarding conflicting claims of both parties to this escrow, that said parties, jointly and severally, shall be required to pay you all expenses, costs and reasonable attorney's fees incurred by you in connection therewith, whether suit is instituted by you or any of the parties hereto, or not. 12. In the event of any disagreement between the parties hereto, or demands or claims made upon you by the parties hereto or interested herein or by any other party, you, as escrow holder, shall have the right to employ legal counsel to advise you and/or represent you in any Suit or action brought affecting this escrow or the papers held in connection herewith or to bring an action in interpleader, at your option. The parties hereto shall be jointly and severally liable to you for any and all attorney's fees, costs, and disbursements incurred by you in connection with the employment of counsel in such conflict and, upon demand, the parties shall forthwith pay the same to you, as escrow holder. If you are required to institute suit to collect such sums as are owed to you pursuant to this or any other provision of this instruction, you shall further be entitled to payment by the parties found liable for such unpaid charges of any costs and attorney's fees incurred in the prosecution of such action. 13. If for any reason funds are retained or remain in escrow after closing date, you are to deduct therefrom a reasonable monthly charge as custodian thereof not to exceed $10.00 per month. 14. NON-RESIDENT ALIEN. The Foreign Investment in Real Property Tax Act (FIRPTA), Title 26 U.S.C., Section 1445, and the regulations there under, provide in part, that a transferee (buyer) of a U.S. real property interest from a foreign person (non-resident alien) must withhold a tax based on the amount realized on the disposition, report the transaction and remit the withholding to the Internal Revenue Service within twenty (20) days after the transfer. Alliance Title & Escrow Corp. has not and will not participate in any determination of whether the FIRPTA tax provisions are applicable to the subject transaction, nor act as a Qualified Substitute nor furnish tax advice to any party to the transaction. Alliance Title & Escrow Corp. is not responsible for determining whether the transaction will qualify for an exception or an exemption and is not responsible for the filing of any tax forms with the Internal Revenue Service as they relate to FIRPTA. Alliance Title & Escrow Corp. is not the agent for the buyer for the purposes of receiving and analyzing any evidence or documentation that the Seller in the subject transaction is a U.S. citizen or resident alien. The buyer is advised they must independently make a determination of whether the contemplated transaction is taxable or non-taxable and the applicability of the withholding requirement to the subject transaction, and should seek the advice of their attorney or accountant. Alliance Title & Escrow Corp. is not responsible for the payment of this tax and/or and penalty and/or interest incurred in connection therewith and such taxes are not a matter covered by the Owner's Policy of Title Insurance to be issued to the Buyer. The Buyer is advised they bear full responsibility for compliance with the tax withholding requirement if applicable and/or for payment of any tax, interest, penalties and/or other expenses that may be due on the subject transaction. ADDITIONAL INSTRUCTIONS COVENANTS AND RESTRICTIONS RECEIVED Buyer(s) acknowledge receipt of Commitment for Title Insurance, including a Plat Map and evidencing Covenants & Restrictions (if any of record) regarding the property transferred herein. NO COMMISSIONS You are instructed to pay no commissions to any real estate agents or brokers in connection with this transaction. DELIVERY OF PROPERTY TAX BILLS: The undersigned acknowledge that the County Treasurer's Office may be unable to change the address for Tax billing before year end. Seller(s) agree to promptly deliver to Buyer(s) any original tax bill received by them. Escrowholder has advised buyer(s) that penalties and interest may accrue on any taxes not paid by December 20. Buyer(s) assume all responsibility for payment of current year taxes, directly or through the lender. Escrowholder shall have no liability or responsibility for payment of current year taxes or delivery of bills associated therewith. TAXES ON LAND ONLY: The buyer and seller are aware that property taxes are presently assessed on "land only" which may include a builder/developer exemption; and that three real property tax bills may be received. The first bill, for land value and partial improvements (if any) may be received by the buyer in November of the current year and may be adjusted between the buyer and seller outside of escrow, if necessary. The second and third bills, for "Occupancy Tax' and "exemption loss" may be received at a later date and are the sole responsibility of the buyer for payment HOMEOWNERS ASSOCIATION OBLIGATION Buyers are aware that there are homeowners association dues in the amount of $200.00 per year. Buyer(s) will be billed directly by the Homeowners Association beginning January 2020. Closing agent is providing the current dues and contact information as a courtesy only, and is not liable for the accuracy of this information in the future, as the HOA may change the amount of dues, due dates or contact information. River Rock Estates HOA c/o Dan Kettle, 3721 Driftwood Dr. Rexburg, ID 83440 dkettlel6@gmail.com (208)709-6399 DECLARATION OF ESCROW SERVICES: Both Buyer and Seller acknowledge the following by their signatures below: We have been specifically informed that Alliance Title & Escrow Corp. (hereinafter referred to as ATEC) is not licensed to practice law and no legal or accounting advice has been offered by ATEC or any of its employees. We have been further informed that ATEC is acting only as escrow holder and that it is forbidden by law from offering any advice to any party respecting the merits of this escrow transaction or the nature and content of the documents executed herein, and that it has not done so. We have been requested by escrow holder to seek legal counsel of our own choosing at our own expense, if we have any doubt concerning any aspect of this transaction. I/We have also been advised that we can obtain a copy of the privacy policy of Alliance Title & Escrow Corp. on line at wwtiv.alliancetitle.com/About/PrivacyPolicy or by requesting it We have been afforded adequate time and opportunity to read and understand these escrow instructions and all other documents referred to herein. These escrow -closing instructions constitute the entire agreement between the escrow holder and the undersigned parties. Any amendment and/or supplement to these instructions must be in writing. We further understand that ATEC assumes no liability as to any law, ordinance or governmental regulations including, but not limited to, building, zoning and division of land ordinances and assumes no responsibility for determining that the parties to the escrow have complied with the requirements of the Truth in Lending, Consumer Protection Act (Public Law 90-321), or similar laws. THE UNDERSIGNED HAVE READ AND FULLY UNDERSTAND THE FOREGOING ESCROW CLOSING INSTRUCTIONS AND ALSO THE DECLARATION SET FORTH ABOVE AND AGREE TO THE SAME Buyer(s): Seller(s) Forwarding Address: 401 E Aunaloosa Drive Sugar City, ID 83448 Sorensen Brothers, LLC Cory Sorensen, Authorized Signer Forwarding Address: 154S3rd W Rexburg, ID 83440 Preference for document copies (Please check all boxes that you require): Pa er Copy Encrypted Email USB Flash Drive The foregoin i ns have been acknowledged and received by Alliance Title & Escrow Corp.. By: Dated: Hea ier Eri kso WARRANTY DEED Alliance Title & Escrow Corp. Order No.:443171 FOR VALUE RECEIVED UWe Have Read, Reviev,)ed and Approved as COntent and Form X------ X Sorensen Brothers, LLC, an Idaho Limited Liability Company the grantor(s), do(es) hereby grant, bargain, sell and convey unto Danny Ricks and Angela Ricks, husband and wife whose current address is 401 E Appaloosa Drive Sugar City, ID 83448 the grantee(s), the following described premises, in Madison County, Idaho, TO WIT: Lot 15 in Block 3 of River Rock Estates, Division No. 1, Madison County, Idaho, as per the plat recorded July 10, 2008, Instrument No. 347190. TO HAVE AND TO HOLD the said premises, with their appurtenances unto the said Grantee, heirs and assigns forever. And the said Grantor does hereby covenant to and with the said Grantee(s), that (s)he is/are the owner(s) in fee simple of said premises; that they are free from all encumbrances Except: Current Year Taxes, conditions, covenants, restrictions, reservations, easements, rights and rights of way, apparent or of record. And that (s)he will warrant and defend the same from all lawful claims whatsoever. Dated: July 5, 2019 Sorensen Brothers, LLC Cory Sorensen, Authorized Signer State of Idaho) ss County of Madison) On this day of July, 2019, before me, the Undersigned, a Notary Public in and for said state, personally appeared Cory Sorensen known or identified to me to be the Authorized Signer in the Limited Liability Company known as Sorensen Brothers, LLC who executed the foregoing instrument, and acknowledged to me that he/she executed the same in said LLC name. IN WITNESS WHEREOF, I have hereunto set my hand and affixed my official seal the day and year in this certificate first above written. Notary Public for the State of Idaho Residing at: Commission Expires: File No. 443171 'IiK YDS i Issuing Agent: Alliance Title & Escrow Corp. Issuing Office: 130 E Main St., Rexburg, ID 83440 Loan ID Number: Customer Reference Number: Issuing Office File Number: 443171 Property Address: TBD Cedar Cove, Rexburg, ID 83440 Revision Number: SCHEDULE A 1. Commitment date: June 24, 2019 at 7:30 A.M 2. Policy or Policies to be issued: I/We Have Read, Reviewed and Approved as to ontent and Form X X�_ (a) 2006 ALTA® Owner's Policy FX I Standard Extended Amount: $62,000.00 Premium: $520.00 Proposed Insured: Danny Ricks and Angela Ricks (b) 2006 ALTA® Loan Policy Endorsements: Proposed Insured: Standard = Extended Amount: Premium: $0.00 3. The estate or interest in the Land described or referred to in this Commitment is FEE SIMPLE 4. Title to the FEE SIMPLE estate or interest in the Landis at the Commitment Date vested in: Sorensen Brothers, LLC, an Idaho Limited Liability Company 5. The Land is described as follows: See Attached Exhibit'A' First American Title Company �1;aJ4�z�z J�! Aut orized Signatory r fl File No. 443171 Exhibit `A' Lot 15 in Block 3 of River Rock Estates, Division No. 1, Madison County, Idaho, as per the plat recorded July 10, 2008, Instrument No. 347190. Y _,. `�` .�£zstAmetic�rx mile SCHEDULE B - SECTION I REQUIREMENTS The following requirements must be met: 1. The Proposed Insured must notify the Company in writing of the name of any party not referred to in this Commitment who will obtain an interest in the Land or who will make a loan on the Land. The Company may then make additional Requirements or Exceptions. 2. Pay the agreed amount for the estate or interest to be insured. 3. Pay the premiums, fees, and charges for the Policy to the Company. 4. Documents satisfactory to the Company that convey the Title or create the Mortgage to be insured, or both, must be properly authorized, executed, delivered, and recorded in the Public Records. 5. The company will require a copy of articles of organization, operating agreements, if any, and a current list of its members and managers for Sorensen Brothers, LLC, an Idaho limited liability company. 6. Delivery to and approval by the Company of documentation authorizing transaction and setting forth parties authorized to execute documents on behalf of Sorensen Brothers, LLC, an Idaho limited liability company. Note No. 1: This Company reserves the right to add additional requirements upon receipt of the details of this transaction. Note No. 2: We find no activity in the past 24 months regarding transfer of title to subject property. We note the following transfer of title to subject property: Warranty Deed Grantor: Marlin Hill and Jerilyne Hill, husband and wife Grantee: Sorensen Brothers, LLC, an Idaho Limited Liability Company Recorded: November 14, 2007 Instrument No.: 341575 Note No. 3: Taxes, including any assessments collected therewith, for the year shown below are paid: Amount: $10.06 Year: 2018 Parcel No.: RPORVRK0030150 Note No. 4: In the event this transaction fails to close and this commitment is cancelled a fee will be charged complying with the state insurance code. Note No. 5: According to the available County Assessor's Office records, the purported address of said land is: TBD Cedar Cove, Rexburg, ID 83440 A copy of our Privacy Policy is available on our website at www.alliancetitle.com/About/Privacy- Policv or via email, or paper format upon request. Please contact your Title Officer if you would like to request a copy of our Privacy Policy. W g #�`,irst.ArrrrricHrr War SCHEDULE B - SECTION II EXCEPTIONS THIS COMMITMENT DOES NOT REPUBLISH ANY COVENANT, CONDITION, RESTRICTION, OR LIMITATION CONTAINED IN ANY DOCUMENT REFERRED TO IN THIS COMMITMENT TO THE EXTENT THAT THE SPECIFIC COVENANT, CONDITION, RESTRICTION, OR LIMITATION VIOLATES STATE OR FEDERAL LAW BASED ON RACE, COLOR, RELIGION, SEX, SEXUAL ORIENTATION, GENDER IDENTITY, HANDICAP, FAMILIAL STATUS, OR NATIONAL ORIGIN. The Policy will not insure against loss or damage resulting from the terms and provisions of any lease or easement identified in Schedule A, and will include the following Exceptions unless cleared to the satisfaction of the Company: 1. Taxes or assessments which are not shown as existing liens by the records of any taxing authority that levies taxes or assessments on real property or by the Public Records. 2. Any facts, rights, interest, or claims which are not shown by the Public Records but which could be ascertained by an inspection of said Land or by making inquiry of persons in possession thereof. 3. Easements, or claims of easements, not shown by the public records. 4. Any encroachment, encumbrance, violation, variation, or adverse circumstance affecting the Title including discrepancies, conflicts in boundary lines, shortage in area, or any other facts that would be disclosed by an accurate and complete land survey of the Land, and that are not shown in the Public Records. 5. (a) Unpatented mining claims; (b) reservations or exceptions in patents or in Acts authorizing the issuance thereof, (c) water rights, claims or title to water, whether or not the matters excepted under (a), (b), or (c) are shown by the Public Records. 6. Any liens, or rights to a lien, for services, labor or material theretofore or hereafter furnished, imposed by law and not shown by the Public Records. 7. Any defect, lien, encumbrance, adverse claim, or other matter that appears for the first time in the Public Records or is created, attaches, or is disclosed between the Commitment Date and the date on which all of the Schedule B, Part I Requirements are met. 8. Taxes, including any assessments collected therewith, for the year 2019 which are a lien not yet due and payable. 9. Levies and assessments of the Reid Canal Company, and the rights, powers and easements of said district as by law provided. 10. Levies and assessments of the Texas Slough Irrigating Canal Company, and the rights, powers and easements of said district as by law provided. 11. Liens, levies and assessments of the Fall River Rural Electric Cooperative, Inc., an Idaho Rural Electric Cooperative, together with rights, powers and easements of said cooperative. 12. Liens, levies and assessments of the River Rock Subdivision Homeowners Association. 13. Easements, reservations, notes and/or dedications as shown on the official plat of River Rock Estates. Division No. 1. 14. Ditch, road and public utility easements as the same may exist over said premises. 15. Covenants, conditions and restrictions, but omitting any covenant or restriction based on race, color, religion, sex, sexual orientation, disability, handicap, familial status, marital status, ancestry, national origin or source of income, as set forth in applicable state or federal laws, except to the extent that said covenant or restriction is permitted by applicable law. Recorded: July 10, 2008 Instrument No.: 347191 Modification(s) of said covenants, conditions and restrictions Recorded: March 11, 2019 Instrument No: 422000 16. An easement for the purpose shown below and rights incidental thereto as set forth in document: Granted To: Fall River Rural Electric Cooperative, Inc. Purpose: Public Utilities Recorded: May 20, 2008 Instrument No.: 345992 17. Agreement and the terms and conditions contained therein Between: River Rock Est And: Fall River Rural Electric Cooperative, Inc. Purpose: Agreement for Electric Service Recorded: May 20, 2008 Instrument No.: 345996 18. Water rights, claims or title to water. 19. The provisions contained in Warranty Deed, Recorded: May 8, 2013, Instrument No.: 382394. As follows: Common area. 20. Right-of-way for Texas Slough and the rights of access thereto for maintenance of said Texas Slough, 21. Any question of location, boundary or area related to the Texas Slough, including, but not limited to, any past or future changes in it. END OF SCHEDULE B This page is only apart of a 2016 ALTA® Commitment for Title Insurance issued by First American Title Insurance Company. This Commitment is not valid without the Notice; the Commitment to Issue Policy; the Commitment Conditions, Schedule A; Schedule 8, Part I—Requirements; and Schedule 8, Part II—Exceptions; and a counter -signature by the Company or its issuing agent that may be in electronic form. ALTA Commitment for Title Insurance 8-1-16 Copyright American Land Title Association. All rights reserved. The use of this Form (or any derivative thereof) is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association. REAL ESTATE PURCHASE AND SALE AGREEMENT (With Earnest Money Provision) TIES CONTRACT CONTROLS THE TERMS OF SALE OF THE PROPERTY, READ CAREFULLY BEFORE SIGNING: IF ANY QUESTIONS CONSULT YOUR ATTORNEY. (Buyer): 64Az . t( 41ok A116"- 11;G� � Dated: 20_ (hereinafter called 'Buyer" agrees to purchase, and the undersigned agrees to sell tti�ee following described real estate hareinafter referred to as "premises" located in (City) /Za_zhwey, in Cowry of State of, known as ddA re(�ss)-. des Legally cribed as (legal description): L .7c,221i FULL AND COMPLETE LEGAL DESCRIPTION MUST BE INSERTED, ATTACHED OR WRITTEN ON THE REVERSE HEREOF PRIOR TO EXECUTION BY THE SELLER Buyer hereby authorizes the correct legal description of the premises be added at a later date if unavailable at the time of signing, or to comet the legal description previously entered if erroneous or incomplete. / I. TOTAL PURCHASE PRICE IS S i�c-1-,-i 4 r .[ � ? 9CfS cL'7 DOLLARS (5�1�) po�ws: A. EARNEST MONEY (a) Buyer hereby deposits and a receipt is hereby acknowledged of Dollars S( 1 evidenced by: []Cash, []Personal Check, ❑Cashier's Check, []Note Due, or paid or delivered as eamest money in part payment of the purchase price for the premises. (b) Earnest Money, to be deposed in bust account upon acceptance by all parties. (c) All Earnest Money shall be held by for the benefit of the parties hereto. B. BALANCE of purchase price to be paid as follows: <f- /9-5. 1. 1q-7-" e'� l res 2. Buyers offer is made subject to the acceptance of Seller on or before 12:00 o'clock midnight of IT Seller does not accept this agreementwithin the time specified, the entire Earnest Money shall be refunded to the buyer on demand. 3. Title of the Seller is to be conveyed by warranty deed, unless otherwise provided, and is to be marketable and insurable except for rights reserved in federal patents, state or railroad deeds, building or use restrictions, building and zoning regulations and ordinances of any governmental unit, and rights of way and casements established or of record. Liens, encumbrances or defects to be discharged by Seller may be paid out of purchase money at date of closing. No liens, encumbrance or defeat which are to be discharged or assumed by buyer or to which title is taken subject to exist, unless otherwise specified in (tis agreement 4. The Seller shall, within a reasonable time after closing furnish to the Buyer a tide insurance policy in the amount of the purchase price of the premises from a title insurance company showing marketable and insurable title subject to the liens, encumbrances and defects elsewhere set out in the agreement to be discharged a assumed by the Buyer. Prior to closing the transaction, the Seller shall furnish the Buyer a preliminary report or commitment made by a title insurance company showing the condition of the tide to said premises. The parties agree that 1 ,r U'y! G� (Title Company) shall provide said tithe policy and preliminary report or title commitment It is agreed that if the tide to said premises is not marketable, or cannot be made so within thirty (30) days after notice containing a written statement of defects is delivered or mailed to the Seller, or if the Sella, having approved said sale failed to consummate the same as herein agreed, such failure can constitute a default and the' Earnest Money shall be returned to the Buyer, and Seller shall pay for the cost of title insurance, escrow and legal fees, if any. Buyers acceptelce of the Earnest Money does not constitute a waiver of other remedies available. �5. It is hereby agreed that the 'closing agent' for the agreement shall be // / i4 /(J L t . Where not otherwise provided by law, the panes shall each pay one-half of said closing agent's fees. The closing date shall be on or before 1.6� 'S �r 6. On or before closing date, Buyer and Seller shall deposit with the closing agent all funds and instruments necessary to complete the sale. 7. Sella shall deliver possession to buye • on or before ` b7, and taxes and water assessments (using the last available assessment as a basis), rents, and loans shall be pi ranted as of except as follows: 8. The panes agree that this agreement =tains the following additional terms and conditions: 9. The following items of property, now on the premises, are specifically excluded from the sale: �( 10. All attached Floor coverings, attached television antenna, attached plumbing bathroom and lighting fixtures, window Samos, screen doors, storm windows, storm doors, shadesvenetian blinds, curtain rods, tress, plants, shrubbery, water heating apparatus and fixtures, attached fireplace equipment, awnings, coolipg and heating systems including built-in dishwashers and drop-in ranges, (but excepting all other ranges), fuel tanks and irrigation fixtures and equipment, all water and venter rights, and ditches and ditch rights appurtenant thereto that are now on or used in connection with the premises shall be included in the sale unless otherwise provided herein. 11. If financing is required, the Buyer atr:ms to make a best efrort to procure same and further agrees to make application therefore within five (5) days after Sellers acceptance of the agreement If VA, FHA, or IIIA financing is contemplated, additional provisions pertaining thereto may be attached hereto and are thereby incorporated herein by reference. The Buyer and Seller hereby authorize the parties designated in Paragraph IA(c) hereof to advance such portion of the Earnest Money deposited as may be required to pay credit fees, appraisal and other initial loan charges attributable to Buyers financing. The parties agree that the Earnest Money less such loan charges if any may be refunded in the event financing contemplated by the Buyer is not obtainable. 12. Subdivision Homeowner's Association: Buyer is aware that membership in a Home Owner's Association may be required and agrees to abide by the Articles of incorporation, by-laws, rules, and regulations of the Association. Buyer is further aware that the property may be subject to assessments levied by the Association, described in full in the Declaration of Covenants, Conditions and Restrictions. Yes No QN/A Association fees/dues are $ 1), 132 6 per Buyer Seller []N/A to pay Homeowner's Association set up and/or property transfer fees 5�at closing, 13. If Seller executes this agreement, and title to said premises is marketable and insurable and the Buyer neglects or refuses to comply with the terms or any conditions of sale within five (5) days from the date on which said term or condition is to be complied with, then the Earnest Money upon written request from the seller shall be forfeited and considered as liquidated damages to Seller, and Buyer's interest in the premises shell be immediately terminated. The holder of the Earnest Money as designated herein shall pay from said Earnest Money the costs of title insurance, escrow fees, attorney fees and any other expenses directly incurred in connection with this transaction. Such forfeiture and acceptance of payment by the holder of the earnest money does not constitute a waiver of other remedies available to Seller and earnest money holder. 14. In the event of default by either of the parties in their performance of the terms and conditions of their agreement, the defaulting party agrees to pay all attorney fees and costs incurred by the nondefaulting party. 15. The undersigned hereby aclmowledge that he/she has not received or relied upon any statements or representations by ALLIANCE TITLE & ESCROW CORP or any ALLIANCE TITLE & ESCROW CORP. represemmive. This and any accompanying forms have been provided as an accommodation and without charge. ALLIANCE TITLE & ESCROW CORP makes no representation as to the content and sufficiency of the forms, nor has neither ALLIANCE TITLE & ESCROW CORP nor its employees given advice in connection therewith. ALLIANCE TITLE & ESCROW CORP has not suggested the f rmrs are appropriate or adequate for the purpose for which they will be used. ALLIANCE TITLE & ESCROW CORP suggests and encourages parties to seek advice and assistance from real estate professionals, including Realtors and Attorneys when using these forms. 16. Unless expressly stated otherwise herein, this agreement is the final agreement and shall be binding upon the heirs, personal representatives, successors and assigns of the respective parties hereto. 17. Costs in addition to those listed below may be incurred by BUYER and SELLER unless otherwise agreed to herein, or provided by law or required by lender, to otherwise state herein. The below costs will be paid as indicated. Some costs aresubject to loan program requirements. SELLER agrees to pay up to $ lender required repair costs only. Upon closing, SELLER agrees to pay up to ETCHER e/n (N/A if left blank) of the purchase price OR $ (N/A if tell blank) of lender approved BUYERS closing costs, lender fees and pre -paid costs which include but aro not limited to those items in BUYERS columns as marked below. 18.000UPANCY: BUYER does Dor does not D intend to occupy property as BUYER'S primary residence. 19. Notwithstanding any termination of this contract, BUYER and SELLER agree that in the event of my controversy regarding the Earnest Money held by the closing agency, unless mutual written instructions are received by the holder of the Earnest Money, closing agency shall not be required to take my action but may await any proceeding, or at the closing agency's option and sole discretion, may interplead all parties and deposit any monies or things of value in a court of competwt jurisdiction and shall recover court costs and reasonable attorney's fees. 20. Time is of the essence of this agreement �,/ Buyer: Address: -l�r/ C�-�!/�N '1005`-^�l l''�j`t"U/(/✓ $3 �4� Buyer:i v Phone: ? ) ZJ% C� 7 ' Y0 _ e-mail: a Hn y burg r� ct- i C' tiw T✓�.n; I . [�.�-. . Uwe hereby ap rove and accept a sale set forth in the above agreement and agree to carry out teles thereof on the part of the Seller. hWe further acknowledge receipt o true copy of this agreement with the complete legal description of the premises inserted and signed by both parties. Selic - Date: i " Lel Phone: Date: e-mail: BUYER SELLER Shared N/A BUYER SELLER Shared N/A Appmisd Fee Title Ins.—Standard Owners Policy Appraisal Re -Inspection Title hos. - Lender's Extended Policy Closing Escrow Fee Additional Title Coverage Lender Doc Prep Fee Fuel in Tank - AnwuntTBDby Supplier Tax Service Fee Well Inspection Flood Cert Tracking Fee Septic Inspection Lender Regd Inspection Septic Plumbing Attorney Preparation Fee i Survey 18.000UPANCY: BUYER does Dor does not D intend to occupy property as BUYER'S primary residence. 19. Notwithstanding any termination of this contract, BUYER and SELLER agree that in the event of my controversy regarding the Earnest Money held by the closing agency, unless mutual written instructions are received by the holder of the Earnest Money, closing agency shall not be required to take my action but may await any proceeding, or at the closing agency's option and sole discretion, may interplead all parties and deposit any monies or things of value in a court of competwt jurisdiction and shall recover court costs and reasonable attorney's fees. 20. Time is of the essence of this agreement �,/ Buyer: Address: -l�r/ C�-�!/�N '1005`-^�l l''�j`t"U/(/✓ $3 �4� Buyer:i v Phone: ? ) ZJ% C� 7 ' Y0 _ e-mail: a Hn y burg r� ct- i C' tiw T✓�.n; I . [�.�-. . Uwe hereby ap rove and accept a sale set forth in the above agreement and agree to carry out teles thereof on the part of the Seller. hWe further acknowledge receipt o true copy of this agreement with the complete legal description of the premises inserted and signed by both parties. Selic - Date: i " Lel Phone: Date: e-mail: