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HomeMy WebLinkAboutPurchase Property - CourtneyDeschutes County Board of Commissioners 1300 NW Wall St., Suite 200, Bend, OR 97701-1960 (541) 388-6570 - Fax (541) 385-3202 - www.deschutes.org AGENDA REQUEST & STAFF REPORT For Board Business Meeting of Wednesday, July 9, 2008 Please see directions for completing this document on the next page. DATE: 7/3/08 FROM: Susan Ross Property & Facilities 541 383 6713 TITLE OF AGENDA ITEM: Consideration of Board Signature of Closing Documents for Purchase of Property at 2611 Courtney, Bend, Oregon PUBLIC HEARING ON THIS DATE? No. BACKGROUND AND POLICY IMPLICATIONS: Deschutes County is purchasing property at 2611 Courtney in Bend, Oregon. This is a 49,496-squart- foot parcel of property located adjacent to the current Health & Human Services building on the east side of Bend. The purchase price is $791,936, which equates to $16 per foot. A formal appraisal was conducted by a licensed appraiser which estimated the value at $993,000 ($20 per foot). Deschutes County is purchasing this property for possible future expansion of the Health & Human Services building. There are no expansion plans at this time, but this is the only remaining parcel contiguous to the HHS property. FISCAL IMPLICATIONS: The purchase of property will be paid out of fund 140, the Project Development Fund. There is sufficient cash and appropriation budgeted in this fund. RECOMMENDATION & ACTION REQUESTED: Board signature of closing documents. ATTENDANCE: Susan Ross will be out of town, so Erik Kropp will present this item. DISTRIBUTION OF DOCUMENTS: Originals are to be returned to Susan Ross so that the closing documents, along with payment, can be returned to the title company to complete escrow. Athe'riTitle Part Of The TELO- WEN Family 15 Oregon Ave Bend, OR 97701 Bus (541) 389-7711 Fax (541)389-0506 BUYER'S ESTIMATED CLOSING STATEMENT RE: YOUR ESCROW NO: BT108036LS DATE: 06-30-2008 CLOSE OF ESCROW: 07/01/2008 Deschutes County (the "Buyer") is/are buying the subject property described herein from: Hawkins Family Trust dated March 18, 1991 and Theodore S. Urban (the "Seller"). SUBJECT PROPERTY: 2611 NE Courtney Drive, Bend, OR 97701 TITLE ORDER NO.: 108036 PRORATE DATE: 07/10/2008 CHARGE CREDIT PURCHASE PRICE $791,936.00 BUYER DEPOSITS: PRORATIONS AS OF Close of Escrow : Real Property Tax @ 3,584.61 paid to 07/01/2008 88.39 ESCROW FEES: AMERITITLE Escrow Closing Fee 750.00 TITLE CHARGES: AMERITITLE Recording Services 41.00 ADDITIONAL CHARGES & CREDITS: WIRE TRANSFER TO CLOSE PLEASE WIRE TRANSFER TO AMERITITLE 792,638.61 TOTALS $792,727.00 _ $792,727.00 The undersigned are aware that the figures listed above are estimated figures and may change between the date of signing and the date of recording, Escrow agent herein is authorized and instructed to make the necessary adjustments at the time of closing. 1/We hereby acknowledge receipt of a copy of this statement. Accepted and Approved: Dated: BUYER Deschutes County BY: Dennis R. Luke, Chair BY: Tammy (Baney) Melton, Commissioner BY: Michael M. Daly, Commissioner Bcs A AtheiiTitle Part Of The DEED- WEN Family 15 Oregon Ave Bend, OR 97701 Bus (541)389-7711 Fax (541)389-0506 TO: AMERITITLE ESCROW INSTRUCTIONS ESCROW # BT108036LS Seller: Hawkins Family Trust dated March 18, 1991 and Theodore S. Urban Buyer: Deschutes County Legal Description: Lot Five (5) THE WOODLANDS, PHASE 1, recorded December 15, 1997, in Cabinet D, Page 554, Deschutes County, Oregon. Seller hereby deposits, or shall cause to be deposited, the following with escrow under these instructions: Deed from Seller to Buyer (to be recorded); Estimated Closing Statement or HUD Settlement Statement which has been approved and is incorporated into and made a part of these instructions; Seller authorizes delivery, release, and recording of documents when AmeriTitle holds for the account of the seller the sum as shown on the signed estimated closing statement and further authorizes credits, deductions, and adjustments as set forth on the signed estimated closing statement. Certain items shown on the closing statement are estimates only and the final figures may be adjusted to accommodate exact amounts required at the time of disbursement. Buyer hereby deposits, or shall cause to be deposited, the following with escrow under these instructions: Estimated Closing Statement or HUD Settlement Statement which has been approved and is incorporated into and made a part of these instructions; Evidence of Hazard Insurance; Collected funds as required to close; Copy of Deed to be signed by seller and read and approved by buyer; Buyer authorizes delivery, release and recording of documents when AmeriTitle is prepared to issue an Owner's Title insurance policy (ALTA 2006) in standard form in the amount of the sales price insuring the Grantee on the deed deposited by Seller on the property described in preliminary title report 108036, report # 1, subject to the general exceptions and exceptions # 1 through 12 and recorded documents as shown above. Title to the subject property shall be conveyed into the names of Deschutes County, a political subdivision of the State of Oregon. If Buyer is obtaining a new loan, AmeriTitle is authorized to record any documents and issue any ALTA Lender's policy required by or on behalf of Lender. Buyer further authorizes credits, deductions and adjustments as set forth on the attached signed estimated closing statement or estimated HUD. Certain items shown on the closing statement/FIUD are estimates only and the final figures may be adjusted to accommodate exact amounts required at the time of disbursement. Seller and Buyer jointly provide the following authorizations/instructions to AmeriTitle: Prorate: AmeriTitle is to pro -rate as of Close of Escrow the following and charge or credit to my account accordingly: Real Property Taxes Assume a 365 -day year in any prorate herein provided, unless the parties otherwise instruct AmeriTitle. AmeriTitle is to use the information contained in the last available tax statement (and any estimated increases), rental statement as provided by the seller, beneficiary's statement, and fire insurance policies delivered into escrow for the prorates provided above. Closing: The expression "Close or Close of Escrow" for purposes of this agreement, means the date in which documents referred to herein are filed for record or in the case where there are no filings, when documents have been executed by all parties and funds exchanged. We understand that recording and disbursement may be subject to final review and the approval of the loan package by the lender. Under the lender's instruction and at AmeriTitle's discretion, AmeriTitle may record the documents in this transaction prior to the receipt of loan funds from the lender. These instructions are final and cannot be changed by buyer or seller once AmeriTitle holds all necessary executed documents and all collected funds. Hazard Insurance: In all acts in this escrow relating to hazard insurance, including adjustments, if any, AmeriTitle shall be fully protected in assuming that each policy is in force and that the necessary premium therefore has been paid. The parties are to secure coverage outside of this escrow to protect their interest(s) as they may appear. Copies: AmeriTitle is authorized to furnish to any attorney, tax advisor, broker, or lender identified with this transaction, or anyone acting on behalf of such attorney, tax advisor, broker, or lender, any information conceming this escrow, copies of all instructions, amendments and statements upon request. Joint Escrow Instructions — cont'd Escrow No. BT108036LS Page 2 Counterpart & Facsimile: These instructions may be signed in counterparts, with like effect as if all signatures appeared on a single copy. Consent, acceptance or approval required or remitted by any party hereunder may be given by facsimile transmission and AmeriTitle may complete all necessary actions without receipt of original signed instructions. Receipt & Disbursement of funds: AmeriTitle may at their discretion, receive and/or disburse any funds in connection with this agreement by electronic wire transfer. If required by any of the parties to utilize this method of transfer, the requesting party agrees to pay any reasonable fee as assessed by AmeriTitle for this service. Refunds: Any funds remaining on deposit after closing or refunds received by AmeriTitle will be refunded to the party whose account was charged. No further instructions will be required by AmeriTitle from Seller or Buyer prior to the disbursement of any such refund. Payoffs & Releases: Seller and Buyer authorize and instruct AmeriTitle upon closing to pay all liens being released or discharged through this escrow in accordance with the payoff statements or instructions received by AmeriTitle from the lien holders. At their discretion, AmeriTitle may proceed pursuant to ORS 86.720 to secure an appropriate release of debt. Seller and Buyer acknowledge the following: AmeriTitle has no liability or responsibility with respect to the following matters: (Unless expressly authorized by separate written instruction and acknowledged by AmeriTitle) • Compliance with the requirements of the Consumer Credit Protection Act or Interstate Land Sales Act, or similar laws. • Compliance with the requirements of the Oregon Revised Statues 537.330 (relating to water rights), 537.788 (relating to well information), 448.271 (relating to well testing) and any similar laws. • Compliance with State or Federal law relating to construction liens, homeowners protection act or lead based paint, seller disclosures, subdivision acts and/or zoning ordinances. • Compliance with the collection, withholding, reporting or payment of any amounts due under Section 1445 and 6039C of the Internal Revenue Code or other related statute or regulation of the Foreign Investment in Real Property Tax Act, commonly referred to as FIRPTA. Notwithstanding the fact AmeriTitle assumes no liability or responsibility to the seller and/or buyer for compliance with FIRPTA, AmeriTitle reserves the right to take any action required by such law and/or regulation without further instructions of the seller or buyer. • Filing and/or searching for any filed Financing Statements (UCC -I) and/or their release. • Utilities such as but not limited to water, sewer, waste collection, electricity, fuel inventory will be handled by the parties outside of this escrow. Seller and/or Buyer agree to the following: Continuing Authorization to Close: Seller and Buyer declare that these instructions are a continuing authorization to close when all of the documents and funds for closing are deposited, unless Seller or Buyer deposits a written notice to cancel or suspend the authorization to close before this transaction is considered final. Seller and Buyer declare that time is of essence for these instructions. These instructions are final and cannot be changed by buyer or seller once AmeriTitle holds all necessary executed documents and all collected funds. Contingencies of Earnest Money Agreement: All terms and provisions of the Earnest Money Agreement and any amendments or addendums thereto have been complied to with the complete satisfaction of the parties or will be complied with outside of escrow. These closing escrow instructions are not intended to amend, modify, or supersede the terms and conditions set forth in the Real Estate Purchase and Sale Agreement and Addendums thereto, if any. Escrow is to be concerned only with the provisions specifically set forth in these instructions and identified by the Buyer and Seller as conditions to the closing of this escrow. Termination of Escrow: AmeriTitle's liability hereunder is limited to its obligations specifically set forth herein. AmeriTitle may terminate this escrow at any time, without notice, or liability. Documents and monies shall be returned to the parties depositing them. Conflictinglrrstructions: In the event any dispute arises between the parties hereto or with any third person concerning the property, documents, or funds covered by these instructions, AmeriTitle may at its election (a) hold all matters in their existing status pending resolution of such dispute to AmeriTitle's satisfaction, or (b) join or commence a court action and in such action deposit the funds and documents referred to herein with the court where such action is pending, and ask the court to determine the rights of purchaser and seller in and to such property, documents and funds, or (c) resolve by arbitration in accordance with the rules of the American Arbitration Association and any judgment rendered pursuant to such arbitration may be entered in any court having jurisdiction thereof. In the event of such dispute and AmeriTitle's election of an alternative described above, AmeriTitle shall have no further duties or obligations under this agreement other than either to hold such funds and documents until Purchaser and Seller have resolved their dispute or to deposit such funds and documents into court. Seller and Buyer shall be responsible for costs associated with any of the above actions taken. Attorney Fees: It is further agreed that in the event of any suit or claim made against AmeriTitle by either or both parties to this agreement, that said parties shall be required to pay AmeriTitle all expenses, costs and reasonable attomey's fees in connection therewith, whether suit is instituted by AmeriTitle or any of the parties hereto. Acknowledgements and representations of Seller and Buyer: na Joins Escrow Instructions — cont'd Escrow No. BT1080361.5 Page 3 Legal Advice: AmeriTitle is not licensed to practice law and AmeriTitle's duties and obligations under this agreement are limited to those of an escrow holder. Seller and Buyer have not been referred by AmeriTitle to any named attorney or attorneys or discouraged from seeking advice of an attorney but have been advised to seek legal counsel of my own choosing at my own expense for any question we may have. Any and all documents, which AmeriTitle has prepared for use in this transaction, have been prepared at the parties' direction and have been reviewed and are hereby approved as to content, form and terms. Bank Benefits: AmeriTitle indirectly receives monetary benefits from the bank(s) at which it deposits and maintains escrow funds in non-interest bearing accounts. These benefits help defray costs associated with handling escrow funds. AmeriTitle estimated the monetary benefit on a per escrow closing basis to be approximately $57.28. AmeriTitle calculated this by dividing estimated total benefits for the past period of months by the estimated total number of escrow closings for the same period. This good faith estimate, as it applies to this escrow is required by Oregon Administrative Rule 863-50-065 (2). Parties consent to these indirect benefits. Deposits: Seller and Buyer understand that all checks, money orders or drafts will be processed for collection in the normal course of business. Parties further understand that all checks, money orders or drafts required to close must be payable to AmeriTitle and must be collected funds, as required by federal and state statues and regulations prior to your disbursement of any funds. AmeriTitle may commingle funds received with escrow funds of others, and may, without limitation, deposit such funds in its escrow account with any bank authorized to do business in the state. It is understood that AmeriTitle, except by virtue of separate signed instructions there shall be no obligation to invest the funds on deposit on behalf of any depositor, nor shall AmeriTitle be accountable for any earnings or incidental benefit attributable to the funds which may be received by AmeriTitle while AmeriTitle hold such funds. HUD Review: Pursuant to regulations adopted under the real estate settlement procedures act, I (we) have a right to review the HUD -I settlement statement one day prior to closing and do hereby waive such right and instruct the settlement agent herein to proceed in accordance with alternative sections of such regulations. Buyer and Sellers understand not all transactions require a HUD settlement statement, Privacy Policy: In response to the Gramm -Leach -Bliley Act, the appropriate parties have been provided with a copy of AmeriTitle's Privacy Policy. Review: The seller and buyer acknowledge that they have been given adequate time and opportunity to read and understand these escrow instructions and all other documents referred to in the transaction. The seller and buyer have read and approved the preliminary title report, estimated closing statement, escrow instructions and any addendums. Seller represents to AmeriTitle there are no existing liens, assessments, taxes, deferred taxes, unpaid water or sewer bill, or any other obligations which are the responsibility of the seller and which are not shown on the above documents. The seller understands and agrees that any obligation known to them and not disclosed herein, remains the responsibility of the seller subsequent to the closing of this transaction. Undisclosed items: The undersigned understands and agrees that any obligation known to them and not disclosed herein remains the responsibility of the undersigned subsequent to the closing of this escrow. The undersigned seller further understands and agrees that any payoffs made on their behalf in this escrow are made by AmeriTitle with complete reliance on figures supplied by the lender, creditor or taxing agency. In the event that additional funds are required to complete said payoffs, the undersigned hereby agrees to immediately upon request from AmeriTitle, provide the additional funds needed to complete said payoffs. PLEASE READ THE PRELIMINARY TITLE REPORT AND YOUR CLOSING STATEMENT CAREFULLY BEFORE SIGNING THIS DOCUMENT. BE SURE ALL FACTS KNOWN TO YOU ARE ACCOUNTED FOR IN THIS ESCROW. AMERITITLE AS THE ESCROW AGENT, IS A NEUTRAL THIRD PARTY AND CANNOT ADVISE YOU OR PROTECT YOUR LEGAL RIGHTS, YOU SHOULD CONSULT LEGAL COUNSEL FOR SUCH ADVICE AND PROTECTION. Jia Joint Escrow Instructions — cont'd Page 4 Escrow No. BTI08036LS IT IS UNDERSTOOD BY THE PARTIES SIGNING THE ABOVE OR ATTACHED INSTRUCTIONS THAT THE INSTRUCTIONS ARE THE COMPLETE INSTRUCTIONS BETWEEN THIS FIRM AS AN ESCROW AGENT AND YOU AS A PRINCIPAL TO THE ESCROW TRANSACTION. THESE INSTRUCTIONS MAY NOT INCLUDE ALL THE TERMS OF THE AGREEMENT WHICH IS THE SUBJECT OF THIS ESCROW. READ THESE INSTRUCTIONS CAREFULLY AND DO NOT SIGN THEM UNLESS THEY ARE ACCEPTABLE TO YOU. SIGNATURES SELLER(S): Hawkins Family Trust dated March 18, 1991 BY: Joyce Hawkins, Trustee Dated: Mailing Address: 43 Tappan Lane Orinda, CA 94563 Theodore S. Urban Dated: Mailing Address: 125 Alta Haciendas Orinda, CA 94563 Accepted this day of BUYER(S): Deschutes County BY: Dennis R. Luke, Chair BY: Tammy (Baney) Melton, Commissioner BY: Michael M. Daly, Commissioner Dated: Mailing Address: 1300 NW Wall Street Suite #200 Bend, OR 97701 , 2008. AMERITITLE By: Linda Sinclair Jtl ADDENDUM TO ESCROW INSTRUCTIONS ESCROW # BT108036LS DATE: 06-30-2008 My/our previous instructions in the above -referenced escrow are hereby supplemented to include the following and are made a part herein. The parties herein acknowledge that AmeriTitle shall not require proof of hazard (fire) insurance coverage from the buyer prior to closing, as this is a cash sale or bare land. However, AmeriTitle urges the buyer to contact their agent should buyer need coverage. AmeriTitle shall be held harmless from any liability or responsibility in obtaining and providing proof of insurance. The undersigned parties acknowledge that if this transaction closes after JULY 1, the title policy and conveyance deed will be subject to the taxes due for the current tax year. The parties also acknowledge that if this transaction closes after JULY 1, the taxes for the new tax year will not yet be certified by the county and AmeriTitle will estimate the tax prorate based on the previous tax year. THE TAX BILL WILL BE SOLELY THE RESPONSIBILITY OF THE NEW OWNER HEREIN. If the transaction closes after July 1, AmeriTitle is authorized to add the following language as an exception to the Statutory Warranty Deed prior to it being recorded: "CURRENT YEAR'S TAXES, A LIEN IN AN AMOUNT TO BE DETERMINED BUT NOT YET DUE AND PAYABLE" IT IS UNDERSTOOD BY THE PARTIES SIGNING THE ABOVE OR ATTACHED INSTRUCTIONS THAT THE INSTRUCTIONS ARE THE COMPLETE INSTRUCTIONS BETWEEN THIS FIRM AS AN ESCROW AGENT AND YOU AS A PRINCIPAL TO THE ESCROW TRANSACTION. THESE INSTRUCTIONS MAY NOT INCLUDE ALL THE TERMS OF THE AGREEMENT WHICH IS THE SUBJECT OF THIS ESCROW. READ THESE INSTRUCTIONS CAREFULLY AND DO NOT SIGN THEM UNLESS THEY ARE ACCEPTABLE TO YOU. SIGNATURES SELLER(S): BUYER(S): Hawkins Fancily Trust dated March 18, 1991 Deschutes County BY: BY: Joyce Hawkins, Trustee Dennis R. Luke, Chair Dated: Mailing Address: 43 Tappan Lane Orinda, CA 94563 Theodore S. Urban Dated: Mailing Address: 125 Alta Haciendas Orinda, CA 94563 BY: Tammy (Baney) Melton, Commissioner BY: Michael M. Daly, Commissioner Dated: Mailing Address: 1300 NW Wall Street Suite #200 Bend, OR 97701 AEI THIS SPACE RESERVED FOR RECORDERS USE A AtheiiTdle Part Of The IELD- WEN Family After recording return to: Deschutes County 1300 NW Wall Street Suite «200 Bend, OR 97701 Until a change is requested all tax statements shall be sent to the following address: Deschutes County 1300 NW Wal] Street Suite «200 Bend, OR 97701 Escrow No. BT 108036LS Title No. 108036 STATUTORY WARRANTY DEED Joyce Hawkins, Trustee of the Hawkins Family Trust dated March 18, 1991, as to an undivided 33.3% interest and Theodore S. Urban, as to an undivided 66.7% interest as tenants in common, Grantor(s) hereby convey and warrant to Deschutes County, a political subdivision of the State of Oregon, Grantee(s) the following described real property in the County of DESCHUTES and State of Oregon free of encumbrances except as specifically set forth herein: Lot Five (5) THE WOODLANDS, PHASE 1, recorded December 15, 1997, in Cabinet D, Page 554, Deschutes County, Oregon. Account No. 194570 17 12 27DA 02307 The above-described property is free of encumbrances except all those items of record, if any, as of the date of this deed and those shown below, if any: 2008-2009 Real Property Taxes a lien not yet due and payable. The true and actual consideration for this conveyance is $791,936.00. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON TRANSFERRING FEE TITLE SHOULD INQUIRE ABOUT THE PERSON'S RIGHTS, IF ANY, UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007. THIS INSTRUMENT DOES NOT ALLOW USE OF THE PROPERTY DESCRIBED IN THIS INSTRUMENT IN VIOLATION OF APPLICABLE LAND USE LAWS AND REGULATIONS. BEFORE SIGNING OR ACCEPTING THIS INSTRUMENT, THE PERSON ACQUIRING FEE TITLE TO THE PROPERTY SHOULD CHECK WITH THE APPROPRIATE CITY OR COUNTY PLANNING DEPARTMENT TO VERIFY THAT THE UNIT OF LAND BEING TRANSFERRED IS A LAWFULLY ESTABLISHED LOT OR PARCEL, AS DEFINED IN ORS 92.010 OR 215.010, TO VERIFY THE APPROVED USES OF THE LOT OR PARCEL, TO DETERMINE ANY LIMITS ON LAWSUITS AGAINST FARMING OR FOREST PRACTICES AS DEFINED IN ORS 30.930 AND TO INQUIRE ABOUT THE RIGHTS OF NEIGHI3ORING PROPERTY OWNERS, IF ANY UNDER ORS 195.300, 195.301 AND 195.305 TO 195.336 AND SECTIONS 5 TO 11, CHAPTER 424, OREGON LAWS 2007. Dated this day of Hawkins Family Trust dated March 18, 1991 BY: Joyce Hawkins, Trustee Theodore S. Urban State of Oregon County of DESCHUTES This instrument was acknowledged before me on , 2008 by Joyce Hawkins, Trustee of the Hawkins Family Trust dated March 18, 1991 and Theodore S. Urban. (Notary Public for Oregon) My commission expires ACCEPTANCE OF DEED The Board of County Commissioners of Deschutes County, Oregon, pursuant to ORS 93.808, hereby accepts title and approves the foregoing Statutory Warranty Deed to Deschutes County, a political subdivision of the State of Oregon on behalf of Deschutes County. DATED this STATE OF OREGON) day of , 2006. Deschutes County) ss. BOARD OF COUNTY COMMISSIONERS FOR DESCHUTES COUNTY, OREGON BY: DENNIS R. LUKE, CHAIR BY: TAMMY (BANEY) MELTON, COMMISSIONER BY: MICHAEL M. DALY, COMMISSIONER Before me, a Notary Public, personally appeared DENNIS R. LUKE, CHAIR,TAMMY (BANEY) MELTON AND MICHAEL M. DALY, COMMISSIONERS on behalf of the Board of County Commissioners for Deschutes County, Oregon. Dated this day of , 2008. Notary Public for Oregon My Commission expires DESCHUTES COUNTY ACCOUNTS PAYABLE VOUCHER VENDOR # 13681 [ ] CHANGED VENDOR NAME Amerititle CHECK NO. [] CHANGED VENDOR ADDRESS RETURN TO DEPT TAX ID# FUND IEPT/DI B.A.S. =LEA OBJ PROJ P.O, INVOICE # DESCRIPTION $ 140 0800 419 91 10 Acquisition for Courtney Street 792,638.61 property (2611 Courtney, Bend) DEPART EN f APPROVAL DATE APPROVED •(/w,, , 7 /`� ___ 7/7/2008 VOUCHER TOTAL 792,638.61 DATED this Day of 2008. BOARD OF COUNTY COMMISSIONERS OF DESCHUTES COUNTY, OREGON DENNIS R. LUKE, Chair TAMMY (BANEY) MELTON, Commissioner MICHAEL M. DALY, Commissioner ATTEST: Recording Secretary