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HomeMy WebLinkAboutL & H Farms-5/23/2016Please return this copy to: City Clerk & Finance Dept. 715 Mulberry St. Waterloo, IA 50703 5 EXCHANGE AGREEMENT THIS EXCHANGE AGREEMENT is entered into this c23 day of May, 2016, by and between the City of Waterloo, Iowa, a municipal corporation ("City"), and L & H Farms, Ltd., an Iowa general partnership ("LHF"). WHEREAS, City has offered to purchase approximately 31.5 acres more or less of Black Hawk County agricultural land described on the attached Exhibit "A" (hereinafter "Farm Land") for the sum of $346,500.00 on or before May 31, 2016, if LHF will agree to accept a conveyance of the Farm Land in exchange for 10.17 acres of development land located at the intersection of U.S. Highway 20 and Ansborough Avenue; and WHEREAS, LHF is the owner of 10.17 acres of real property located at the southeast corner of the intersection of U.S. Highway 20 and Ansborough Avenue described on the attached Exhibit "B" and depicted on the aerial photograph on attached Exhibit "C" (hereinafter "Development Land"); and WHEREAS, LHF is willing to convey the Development Land to City in exchange for the Farm Land so as to qualify the transaction for the non -recognition of gain under Internal Revenue Code Sec. 1031 (such exchange being hereafter referred to as the "Exchange"). NOW, THEREFORE, in consideration of the mutual covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows: Section 1. Construction and Interpretation. This Agreement shall be carried out, governed by, and construed in accordance with the laws of Iowa and, to the extent necessary or appropriate, to obtain like -kind exchange treatment under Internal Revenue Code §1031. The parties agree to execute any additional documents required to allow this transaction to so qualify. LHF agrees to bear any expenses associated with document preparation necessary to qualify the Exchange for like -kind exchange treatment. Section 2. Contingencies. 2.1 City's obligations herein are subject to and conditioned upon the following: A. The City Council for the City of Waterloo, Iowa, adopting a resolution authorizing City to take assignment of the contract to purchase the Farm Land pursuant to the agreed-upon terms and conditions of the assignment set forth in Section 3 below, and further authorizing City to purchase the Farm Land for the sum of $346,500.00 pursuant to the terms and conditions of said contract; 1 5 B. The City Council for the City of Waterloo adopting a resolution authorizing City to convey the Farm Land to LHF in exchange for the Development Land by directing the sellers of the Farm Land to convey it directly to LHF in accordance with the terms of that certain Option Exchange Agreement between City and LHF dated March 8, 2010, as amended on March 30, 2015; C. City completing its purchase of the Farm Land prior to closing on this exchange with LHF. 2.2 LHF's obligations herein shall be subject to and conditioned upon City completing its purchase of the Farm Land. Section 3. Terms of Assignment. City will be taking assignment of an existing contract to purchase the Farm Land. A copy of said contract, as amended, is attached to this Agreement as Exhibit "D." A copy of the Assignment is attached as Exhibit "E." Section 4. Conveyance of Property. 4.1 City agrees to require the current owners of the Farm Land to convey said real property directly to LHF by warranty deed as consideration for LHF's conveyance of the Development Land to City by warranty deed; 4.2 City agrees to accept the conveyance of the Development Land in accordance with the terms and conditions of this Exchange Agreement. 4.3 In recognition of LHF's role in identifying and pre -approving the Farm Land for acquisition by City for purposes of this Agreement, LHF agrees to accept the conveyance of the Farm Land "as is," subject to all conditions, easements, restrictions and other characteristics, and hereby acknowledges that City has not made and will not make any representation or warranty with respect to the Farm Land, whether as to merchantability of said land, its fitness for any particular purpose, or otherwise. 4.4 The parties agree that the Farm Land shall be deemed to have a value of $346,500.00 for purposes of this transaction, and the Development Land shall be deemed to have a value of $338,625.00 for purposes of this transaction. LHF will loan City the sum of $7,875.00 to acquire the Farm Land, and City will pay the balance of the purchase price in cash. As consideration for the conveyance of the Farm Land, LHF will convey the Development Land to City and forgive the loan in the amount of $7,875.00. 4.5 No cash consideration will be exchanged between the parties. Section 5. Form of Conveyance 2 5 5.1 City shall cause the current owner of the Farm Land to convey said real property directly to LHF by Warranty Deed. LHF shall convey the Development Land to City by Warranty Deed. Title shall be merchantable title in accordance with the Iowa Title Standards. 5.2 All liens or clouds on title shall be removed prior the Exchange. 5.3 If title cannot be made merchantable within a reasonable period of time, this Exchange Agreement shall become null and void. Section 6. Closing. The closing on the Exchange contemplated herein shall occur contemporaneously with the closing on City's purchase of the Farm Land. It is expected that the closing will occur on or before May 31, 2016. Section 7. Property Taxes. 7.1 LHF acknowledges that City will receive a credit against the $346,500.00 purchase price for the Farm Land in an amount equal to the annual real estate taxes on the Farm Land prorated through the closing date, and that as a result of such credit, the seller of the Farm Land will expect City and its successors to pay the installments of property taxes due on and after September 30, 2016. LHF agrees to assume responsibility for making the general property tax payments for the Farm Land due September 30, 2016, and all subsequent installments. 7.2 LHF will pay the property taxes on the Development Land that are due March 31, 2017 and all prior installments. City shall be responsible for real estate taxes attributable to the Development Land due September 30, 2017, and all subsequent installments of general real estate taxes attributable to the Development Land, if any. Section 8. Survey. If the parties determine that a survey of the Development Land, or any part thereof, is required, then City shall reimburse LHF for the cost of procuring a plat of survey for the Development Land. The plat of survey must be completed and filed of record in the office of the Black Hawk County Recorder prior to the completion of the Exchange contemplated herein. Section 9. Abstracting. 9.1 The current owner of the Farm Land will provide City with an updated abstract of title or title report for the Farm Land prior to City having to complete its purchase of the Farm Land. Upon receipt of the abstract of title or title report, City shall deliver it to legal counsel for LHF. Legal counsel for LHF shall examine the abstract or title report and confirm that the current owner of the Farm Land possesses marketable title to the real estate as required by this Exchange Agreement. 3 5 9.2 LHF will provide City with an updated title report for the parcel of real estate that includes the Development Land. City acknowledges that the title report will include other real estate. City shall bear the expense of paying the abstract company to prepare a separate abstract of title for the Development Land. City may defer the preparation of this abstract of title until such time as it is prepared to sell all or a portion of the Development Land. Section 10. Other Closing Costs. Each of the parties agrees to pay any closing costs not specifically addressed herein in the manner customarily paid by buyers and sellers as part of real estate transactions in the State of Iowa. Section 11. Option to Rent. City agrees that as long as City remains the titleholder to all or a portion of the Development Land, Lanehaven Farms, Inc., shall be entitled to rent any and all undeveloped portions of the Development Land on a year-to-year basis on the condition that Lanehaven Farms, Inc., enter into a written lease agreement with City requiring, among other things, that Lanehaven Farms, Inc., provide the same indemnification customarily required of tenants in a cash basis farm lease and that Lanehaven Farms, Inc., procure customary liability insurance identifying City as an additional insured. Annual rent for the first four (4) years (through the 2019-2020 crop year) shall be $190.00 per acre. Thereafter, annual rent shall be mutually agreed upon by the parties or in the absence of such agreement, it shall be set at the then prevailing fair rental value as determined by a mutually agreeable farm management company such as Hertz Farm Management. Rent shall be payable in December of each calendar year. Section 12. Notices. All notices, requests, demands, directions and other communications required or permitted to be given pursuant to this Agreement shall be valid if in writing and if delivered personally, or sent by certified or registered mail, return receipt requested, postage prepaid and addressed as follows: To City: To LHF: The City of Waterloo, a municipal corporation Attention: Quentin M. Hart, Mayor Attention: Suzy Schares, City Clerk 315 Mulberry Street Waterloo, Iowa 50703 L & H Farms, Ltd., an Iowa general partnership Lanehaven Farms, Inc., Partner Attention: Curtis Hollis, President 7052 Hammond Avenue Waterloo, Iowa 50701 4 5 Section 13. Amendments. This Agreement may not be modified except in a written instrument signed by the parties. Section 14. Enforceability. This Agreement shall bind and inure to the benefit of the parties hereto and their respective successors, executors, personal representatives and assigns. No party to this Agreement may assign their/its rights or interests hereunder without the prior written consent of each of the other parties. Section 15. Counterparts. This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all of which taken together shall constitute one and the same document. Section 16. Limitation of Rights. With the exception of the rights herein expressly conferred, nothing expressed in this Agreement is intended or shall be construed to give to any person or entity, other than the parties hereto, any legal or equitable right, remedy or claim under or in respect to this Agreement or any covenants, agreements, conditions and provisions herein contained, this Agreement and all of the covenants, agreements, conditions and provisions hereof being intended to be and being for the sole and exclusive benefit of the parties hereto. Section 17. Severability. If any provision of this Agreement shall be held or deemed to be or shall, in fact, be inoperative or unenforceable as applied in any particular case in any jurisdiction or jurisdictions or in all jurisdictions, or in all cases because it conflicts with any other provision or provisions hereof or any constitution or statute or rule of public policy, or for any other reason, such circumstances shall not have the effect of rendering the provision in question inoperative or unenforceable in any other case or circumstance, or of rendering any other provision or provisions herein contained invalid, inoperative, or unenforceable to any extent whatever. Section 18. Intent. It is the intent of the parties that this Exchange Agreement shall permit each party to complete a like -kind exchange pursuant to Internal Revenue Code Sec. 1031 and it is intended to comply with the requirements of the regulations thereunder, including, but not limited to, Reg. 1.1030(k)-1. To the extent that any provisions herein conflict with the requirements of the safe harbor provisions contained therein, the requirements and the conditions of the statute and the regulations shall control. 5 IN WITNESS WHEREOF, City and LHF have each caused this Agreement to be executed, sealed and delivered as of the day and year first above written. THE CITY OF WATERLOO, IOWA, A MUNICIPAL CORPORATION By: -1/4--UlY i, Quentin M. Hart, Mayor By: Sures, City Clerk L & H FARMS, LTD. By: LANEHAVEN FARMS, INC., Partner By: Curtis G. Hollis, President STATE OF IOWA ) ss. COUNTY OF BLACK HAWK ) I'i This instrument was acknowledged before me on the �. day of May, 2016, by Quentin M. Hart as Mayor and Suzy Schares as City Clerk of the City of Waterloo, Iowa, an Iowa municipal corporation. 5 SHELLIE L CRISMAN COMMISSION NO.778700 MY 09MIVASSIQN EXPIRES Notary blic in and for Black Hawk County, Iowa 6 5 STATE OF IOWA ) ) ss. COUNTY OF BLACK HAWK ) This instrument was acknowledged before me on the a-7 day of May, 2016, by Curtis G. Hollis as President of Lanehaven Farms, Inc., an Iowa corporation, General Partner of L & H Farms, Ltd., an Iowa general partnership. 1/1Act-(.4 R Notary Public in and for Blau' awk County, Iowa 7 5 EXHIBIT "A" The Northeast Quarter of the Southeast Quarter (NE1/4 SE 1/4) of Section 10, Township 87 North, Range 14 West of the 5th P.M. in Black Hawk County, Iowa, except Parcel "A" of Plat of Survey Doc. # 2014-04688 recorded August 29, 2013, being a part of the Southeast Quarter of Section 10, Township 87 North, Range 14 West of the Fifth Principal Meridian, Black Hawk County, Iowa, and except the highway and adjoining public right of way (31.5 tillable acres, more or less). 8 5 EXHIBIT "B" Development Land Red Parcel The South 189.5 feet of the North 938.85 feet of the North Half of the Southwest Quarter (N 'A SW '/a) in Section No. 9, Township No. 88 North, Range No. 13 West of the Fifth Principal Meridian, Black Hawk County, Iowa, EXCEPT that part thereof conveyed to the City of Waterloo in a deed filed March 14, 2012 as Doc. No. 2012-16922 AND EXCEPT that part thereof described in a deed dated April 29, 1996 and filed May 1, 1996, at Book 567 Land Deeds at Page 633 AND EXCEPT that part thereof described in a deed dated April 4, 1997 and filed April 4, 1997 at Book 569 Land Deeds at Page 042, all filed in the Office of the Black Hawk County Recorder. Subject to easements, restrictions, covenants, ordinances and limited access provisions of record and not of record. 9 5 EXHIBIT "C" 10 5 EXHIBIT "D" Sieglaff Contract #5 1l 5 EXHIBIT "E" ASSIGNMENT OF REAL ESTATE CONTRACT 12 Please return this copy to: City Clerk & Finance Dept. 715 Mulberry St. Waterloo, IA 50703 5 MEMORANDUM OF AGREEMENT REGARDING PRORATING OF REAL ESTATE TAXES This Agreement is entered into as of May ,23 , 2016, by and between L & H Farms, Ltd. ("L&H") and the City of Waterloo, Iowa ("City"). RECITALS A. L&H and City are parties to a certain Exchange Agreement by which L&H will convey to City, as part of an exchange of like -kind real estate, certain real property described as: The South 189.5 feet of the North 938.85 feet of the North Half of the Southwest Quarter (N 1/2 SW 1/4) in Section No. 9, Township No. 88 North, Range No. 13 West of the Fifth Principal Meridian, Black Hawk County, Iowa, EXCEPT that part thereof conveyed to the City of Waterloo in a deed filed March 14, 2012 as Doc. No. 2012-16922 AND EXCEPT that part thereof described in a deed dated April 29, 1996 and filed May 1, 1996, at Book 567 Land Deeds at Page 633 AND EXCEPT that part thereof described in a deed dated April 4, 1997 and filed April 4, 1997 at Book 569 Land Deeds at Page 042, all filed in the Office of the Black Hawk County Recorder (the "Real Estate"). B. The purpose of this Agreement is to confirm the parties' agreement regarding the manner in which real estate taxes will be prorated. The parties acknowledge that the Exchange Agreement requires that taxes for the Real Estate are to be prorated to the closing date for the sale and purchase of the Real Estate, likely May 31, 2016. AGREEMENT NOW, THEREFORE, in consideration of the mutual promises exchanged herein, and for other consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree that L&H will pay the full tax bill for the Real Estate that is due on or before September 30, 2016. Concurrently with said payment, L&H will also deliver a check in the amount of $300.21, payable to the Black Hawk County Treasurer, to the office of City's legal counsel, namely, Clark Butler Walsh & Hamann, 315 E. 5th Street, Waterloo, Iowa, 50703, Attn: Chris Wendland. City's legal counsel will be responsible for remittance of said check to the treasurer's office as a prepayment of L&H's prorated share of the March 2017 tax installment. The parties acknowledge that the sum of $300.21 is a good -faith estimate based on currently available information. The parties also acknowledge that, when tax bills are issued in August 2017, the Real Estate will not be taxed as a separate parcel from the larger parcels of which it is a portion, but that the treasurer's office has indicated that taxes otherwise attributable to the Real Estate will not be included in said tax bills for the larger parcels. The August 2017 tax bills for the larger parcels will be the full and sole responsibility of L&H. The parties agree to cooperate reasonably and in good faith, and to take such further steps as may be reasonably necessary or advisable, to carry out the purpose and intent of this Agreement. IN WITNESS WHEREOF, the parties have executed this Agreement by their duly authorized representatives as of the date first set forth above. L & H FARMS, LTD. By: Curtis G. Hollis, President 2 CITY OF WATERLOO, IOWA By: Attest: Quentin M. Hart, Mayor Suzy Sch res, City Clerk 5 ASSIGNMENT OF REAL ESTATE CONTRACT THIS ASSIGNMENT is made and entered into this 27 t" day of May, 2016, by and between Hollis Farms, Inc., an Iowa corporation, and the City of Waterloo, Iowa, a municipal corporation ("City"). 1. Assignment. Hollis Farms, Inc. hereby assigns all of its right, title and interest in the Real Estate Contract (Short Form) between Cecil H. Sieglaff and Betty A. Sieglaff, married persons, as Sellers, and Hollis Farms, Inc., an Iowa corporation, as Buyer, dated October 18, 2013 (hereinafter "Contract") for the sale of the following described real estate: The Northeast Quarter of the Southeast Quarter (NE 1/4 SE 1/4) of Section 10, Township 87 North, Range 14 West of the 5th P.M. in Black Hawk County, Iowa, except Parcel "A" of Plat of Survey Doc. # 2014-04688 recorded August 29, 2013, being a part of the Southeast Quarter of Section 10, Township 87 North, Range 14 West of the Fifth Principal Meridian, Black Hawk County, Iowa, and except the highway and adjoining public right of way (31.5 tillable acres, more or less). 2. Acceptance of Assignment. City hereby accepts assignment of the Contract. HOLLIS FARMS, INC. THE CITY OF WATERLOO, IOWA, A MUNICIPAL CORPORATION By: Blake G. Hollis, President By: By: uentin M. Hart, Mayor Suzy Schares, City Clerk The undersigned, Cecil H. Sieglaff and Betty A. Sieglaff, married persons, hereby consent to the Assignment set forth above. Cecil H. Sieglaff Betty aff A. Settlement Statement (HUD -1) OMB Approval No, 2502-0265 8. Type of Loan 1.0 FHA 2.0 RHS 3.0 Conv. Unins 4.0 VA 5.0 Conv. Ins 6. File Number; 7. Loan Number: 8. Mortgage Insurance Case Number: C. Note: This fon Is furnished to give you a statement of actual settlement costs. Amounts paid to and by the settlement agent are shown. Items marked "(p.o.c.)" were paid outside the closing; they are shown here (or informational purposes and are not included in the totals. 0. Name & Address of Borrower: City of Waterloo, Iowa 715 Mulberry Street Waterloo, IA 50703 E. Name & Address of Seller: L & H Farms, Ltd. 7502 Hammond Avenue Waterloo, IA 50701 F. Name & Address of Lender: G. Properly Location: S 189.5 feet of N 938,85 feet of N 1/2 SW 1/4 Sec 9-88-1.3 EXC Waterloo, IA Lot: Block: H. Settlement Agent: Mark S. RoLinger 415 Clay Street Cedar Falls, IA 50613 TIN: Phone: (319) 277-6830 Place of Settlement: 415 Clay Street Cedar Falls, IA 50613 1. Settlement Date: Funding Date: J. Summary of Borrower's Transaction K. Summary of Sellers Transaction 100. Groes Amount Due From Borrower 400. Gross Amount Due To Seller 101. Contract sales price 338 625.00 401 Contract sales price 338 625.00 102. Personal property 402 Personal properly 103. Settlement charges to borrower (line 1409) 17.00 403. 104. 404. 105. 405. Adlustments for Items paid by seller In advance Adlustments for Items paid by seller In advance 106. City/town taxes: 408. City/town taxes: to to 107. County taxes: 407. County taxes: to to 108. Assessments: 408. Assessments: to to 109.Seller's forgiveness of loan 7,875.00 409. Seller's forgiveness of loan 7,875.00 110. 410. 111. 411. 112. 412. 120. Gross Amount Due From Borrower 346, 517.00 420. Gross Amount Due To Seller 346, 500.00 200. Amounts Paid By Or In Behalf Of Borrower 600. Reductions In Amount Due To Seller 201. Oepesi19r earnest money 501. Excess deposit (see Instructions) 202, Principal amount of new loans) 502. Settlement charges to seller (line 1400) 743.60 203, Existing loan(s) taken sublect to 503. Existing loans) taken sublect to 204, 504. Payoff of first mortgage loan 205. 505. Payoff of second mortgage loan 206. Buyer's conveyance of 506. Buyer's conveyance of 207. replacement property 346,500.00 507. replacement property 346,500.00 208. 508. 209. 509. Adlustments for Items unpaid by seller Adlustments for Items unpaid by seller 210. CIty/town taxes: 510. Clty/town taxes: to to 211. County taxes: 511. County taxes: l0 POC to POC 212. Assessments: 512. Assessments: to to 213. 513. 214. 514. 215. 515. 216. 516. 217. 517. 218. 518. 219. 519. 220. Total Paid By/For Borrower 346, 500.00 520. Total Reduction Amount Dug Seller 347, 243.60 300. Cash At Settlement From/To Borrower 600, Cash At Settlement To/From Seller 301, Gross Amount due from borrower (line 120) 346, 517.00 601. Gross amount due to seller (line 420) 346, 500.00 302. Less amounts pald by/for borrower (line 220) 346, 500.00 602, Less reductions In amount due seller (line 520) 347, 243.60 303 Cash El From 0 To Borrower 17.00 503, cash 0 To ® From Seller 743.60 The Public Reporting Burden for this collection of information Is es mated at 35 minutes pe response for collecting, reviewing. and reporting the data, This ag ncy may not collect this information, and you ere not required to complete (his form, wiles ((displays a currently valid OMB control number. No confidentiality is assured; thls disclosure is mandatory. This is designed to provide the parties to a RESPA covered transaction x4 h information during the settlement process, © 2009-2012 Easy Soft. Previous editions are obsolete. Page 1 o(3 HUD -1 L. Settlement Charges File Number: Loan Number: 700, Total Real Estate Broker Foes Paid From Borrower's Funds at Settlement Paid From Sellers Funds at Settlement Division of Commission (line 7001 as follows' 701. $ to 702. $ to 703. Commission paid at settlement 704. 900. Items Payable In Connection With Loan 801. Our origination charge $ (from GFE #1) 802. Your credit or charge (points) for the sped,' c Interest rate chosen $ (from GFE #2) (from GFE A) (from GFE #3) 803. Your adjusted origination charges 804, Appraisal fee to 805. Credit report to (from GFE #3) 806. Tax service to (from GFE #3) 807. Flood certification (from GFE #3) 808. 809. 810, 811. 900. Items Required By Lender To Be Paid In Advance 901. Dally interest charges from to 2/1/2001 @ $ /day (from GFE #10) 902. Mortgage insurance premium for 0 months to (from GFE #3) 903. Homeowners Insurance for 0 years to (from GFE #11) 904. 905, 1000. Reserves Deposited With Lender 1001 Initial deposit for your escrow account (from GFE #9) 1002. Homeowners Insurance months @ per mo S 1003. Mortgage insurance months 0 per mo $ 1004. Property taxes months @ per mo $ 1005. months @ per mo $ 1006. months @ per mo $ 1007 Aggregate Adjustment $0.00 1100, Title Cherries 1101. Title services and lenders title insurance (from GFE #4) 1102. Settlement or closing fee 1103. Owner's title insurance (from GFE #5) 1104. Lender's title insurance 1105. Lender's title policy limit $ 1106. Owners title policy limit $ 1107. Agent's portion of the total insurance premium $ 1108. Underwriters portion of the total insurance premium 5 1109. 1110. 1111. 1200. Government Recording and Transfer Charges 1201. Government recording charges (from GFE #7) 17.00 12.00 1202. Deed $29.00 Mortgage $ Release $ 1203. Transfer taxes (from GFE #81 1204. City/County taxfstamps: Deed $541 . 60 Mortgage $ 541, 60 1205. State lax/stamps: Deed $ Mortgage $ 1206. $ 1207. $ 1300. Additional Settlement Charge, 1301. Required services that you can shop for (from GFE 110) 1302. Lien Report to Black Hawk County Abstract 190.00 1303. 1304. Document Preparation to Redfern Law Firm - P.O.C. 1305. Closing Fee to Redfern Law Firm - P.O.C. 1306. 1307. 1308. 1400. Total Settlement Choggics'lbIltor.oq lines 103, Section J and 602, Section K) 17.00 743.60 1 have tidy ro my acc9Lnt or by me j(this e Iit7D•I Setd actian.11 nl SI anent and to the best of my knowledge and belief, it is a true and accurate statement o_(,all celpts end dl bursemenla made on r ce y That 1 have received a copy of the HUD -1 Settlepr4nt Statement. City o aterloo, Iowa Buyer/Borrower L b H Farms, LC Buyer/Borrower Thl : 11 ment Statem nlvl�eh 've pr di5pre0 in . .. nd accurate account of this Iransegion. I've caused or will cause the funds to be disbursed In accordancewith this statement. Seller Seller Mark S. Rolinger Settlement Agent Date WARNING: It is cdme to knowingly make 1.... . ments to the Untied Stelae on this or any other similar lot,. Penalties upon conviction can include a ane or hnpdsonment 0 2009.2012 Easy San. Previous editions are dbsdeto. Page 2 of 3 1400.1 Conlpatlaalhet Good Faith Estimate (OPE) and HUD•1 Charges r Initial deposit for your escrow account Charges That Cannot Increase HUD•l Line Number Our origination charge #801 Your credit or charge (points) for the specific rale chosen #802 Your adjusted origination charges #803 Transfer taxes #1203 Charges That inTotal Cannot Increase MoreThan10% Government recording charges 1 #1201 Total, Inc tse between GFE'and HUD?I Chariga's# ChargesI atCan 'Change _. Initial deposit for your escrow account #1001 Daily Interest charges #901 Homeowner's insurance #903 Loan Terns Good Faith Estimate - HUD•1a" 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Good Faith Estimate - :HUD -1 0.00 0.00 0.00 17.00 0.00 17.00 Good Faith Esfmate " '--HUD•1 " 0.00 0.00 0.00 0.00 0.00 0.00 Your initial loan amount is $ Your loan tern is Years Your Initial interest rate is % Your initial monthly amount owed for principal, interest, and any mortgage insurance is $ Includes 0 Principal 0 Interest 0 Mortgage Insurance Can your Interest rate rise? ® No. 0 Yes, It can rise to a maximum of %. The first change will be on and can change again every after . Every change date, your Interest rate can Increase or decrease by %. Over the life of the loan, your Interest rate is guaranteed to never be lower than % or higher Than %. Even if you make payments on time, can your loan balance rise? ® No. 0 Yes, it can rise to a maximum of $ . Even If you make payments on time, can your monthly amount owed for principal, Interest, and mortgage Insurance rise? © No. 0 Yes, the first Increase can be on and the monthly amount owed can rise to $ . The maximum It can ever rise to Is $ . Does your loan have a prepayment penalty? l No. 0 Yes, your maximum prepayment penalty Is $ . Does your loan have a balloon payment? I No. 0 Yes, you have a balloon payment of $ due In years on . Total monthly amount owed Including escrow account payments I1 You do not have a monthly escrow payment for Items, such as properly taxes and homeowner's Insurance. You must pay these items directly yourself. 0 You have an additional monthly escrow payment of $ that results in a total initial monthly amount owed of $ . This includes principal, interest, any mortgage Insurance and any items checked below: 0 Property taxes 0 Homeowner's insurance 0 Flood Insurance 0 0 0 Note: If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender. ® 2009-2012 Easy Soft. Previous editions are obsolete. Page 3 of 3 HUD -1 A. Settlement Statement (HUD -1) OMB Approval No. 2502-0265 B. Type of Loan 1.0 FHA 2.0 RHS 3.0 Conv. limns 4.0 VA 5.0 Conv. Ins 6. File Number: 7. Loan Number: 8. Mortgage Insurance Case Number: C. Note: This form is furnished to give you a statem "(p.o.e.)" were pald outside the closing; they ni of actual settlement costs, Amounts pald to and by the settlement agent are shown. Items marked are shown here for Informational purposes and are not Included In the totals. D. Name & Address of Borrower: City of Waterloo, Iowa 715 Mulberry Street Waterloo, IA 50703 E. Name & Address of Seller: Betty A. Sieglaff 1376 Maxhelen Blvd. Unit 5A Waterloo, IA 50701 F. Name & Address of Lender: G. Property Location: NE 1/4 SE 1/4 Sec 10-87-14 EXC Parcel A (31.5 tillable A) H. Settlement Agent: Mark S. Bolinger 415 Clay Street Cedar Falls, IA 50613 TIN: Phone: (319) 277-6830 Lot: Block: Place of Settlement: 415 Clay Street Cedar Falls, IA 50613 I. Settlement Date: Funding Date: J. Summary of Borrower's Transaction K. Summary of Seller's Transaction 100. Gross Amount Due From Borrower 400. Gross Amount Due To Seller 101, Contract sales Alice 346, 500.00 401. Contract sales price 346, 500.00 102. Personal property 402. Personal property 103. Settlement charges to borrower (line 1400) 403. 104. 404. 105. 405. Adlustments for items paid by seller In advance Adjustments for Items paid by seller In advance 106. Clly/town taxes: 406. City/town taxes: to to 107, County laxes: 407. County taxes: to to 108. Assessments: 408. Assessments: to to 109. 409. 110. 410. 111. 411. 112. 412. 120. Gross Amount Due From Borrower 346, 500.00 420. Gross Amount Due To Seller 346, 500.00 200. Amounts Paid By Or In Behalf Of Borrower 500. Reductions In Amount Due To Seller 201. Deposit or earnest money 501, EXceSS deposit (see Instructions) 202. Principal amount of new loan(s) 7,075,00 502. Settlement charges to seller (line 14001 608.60 203, Existing loans! taken subiect to 503, Existing loans) taken subject to 204. 504. Payoff of first mortgage loan 205. 505. Payoff of second mortgage loan 208. 506. 207. 507. 208. 508. 209. 509. Adiostments for Items unnald by seller Adjustments for Items unpald by salter 210. City/town taxes: 510. Clly/town taxes: to to 211. County taxes: 7/1/2015-5/31/2016 960.26 511. County taxes: 7/1/2015-5/31./2016 960.26 to to 212. Assessments: 512. Assessments: to to 213. 513. 214. 614. 215. 515. 218. 518. 217. 517, 218. 518. 219. 519. 220. Total Pald BWFor Borrower B0835.26 520. Total Reduction Amount Due Seller 1,648.116 300. Cash At Settlement From(Te Borrower 600. Cash At Settlement To/From Seiler 301, Gross Amount due from borrower (line 120) 346, 500.00 601. Gross amount due to seller (line 420) 346, 500.00 302, Less amounts paid by/for borrower (line 2201 8, 835.26 602, Less reductions In amount doe seller (line 520) 1,648.86 303. Cash Z From a To Borrower 337,664 74 803. Cash ® To Q From Seiler 344,85 4 The Public Reporting Burden for this collection of information i3 es Imoled at 35 minutes pe response for collecting, reviewingg and reporting the data. TNs eg icy may not collect this Information, and you are not required to complete this form, unles it displays a currently valid OMB control number. No confidentiality is assured; this disclosure Is mandatory. This Is designed to provide the parties to a RESPA covered transaction vA h Information during the settlement process. © 2009-2012 Easy Soft. Previous editions are obsolete. Page 1 of 3 HUD -1 L. Settlement Charges File Number: Loan Number: 700, Total Real Estate Broker Fees Paid From Borrower's Funds at Settlement Pald From Seller's Funds at Settlement Division of CammIssion (line 700) as follows: 701. $ to 702. $ to 703. Commission paid at settlement 704. 800. Items Payable In Connection With Loan 801. Our origination charge $ (from GFE #1) 802. Your credit or charge (points) for the specific interest rate chosen $ (from GFE #2) 803. Your adjusted origination charges (from GFE A) (from GFE #3) 804. Appraisal fee to 805, Credit report to (from GFE (13) (from GFE 03) 806. Tax service to 807. Flood certification (from GFE #3) 808. 809. 810. 811. 900. Items Required By Lender To Bo Pald In Advance 901. Daily interest charges from to @ $ /day gram GFE #10) 902. Mortgage insurance premium for 0 mon the to (from GFE 03) 903. Homeowner's insurance for 0 years to (from GFE 411) 904, 905. 1000. Reserves Deposited With Lender 1001 Initial deposit for your escrow account (from GFE #91 1002. Homeowner's Insurance months @ per no $ 1003. Mortgage insurance months @ per mo $ 1004. Property taxes months 0 per mo $ 1005. months @ per mo $ 1006, months @ per mo $ 1007, Aggregate Adiustment $0.00 1100 Title Charges 1101, Title services and lender's tills insurance (from GFE #4) 1102. Settlement or closing fee 1103. Owner's title Insurance (from GFE #5) 1104. Lenders elle insurance 1105. Lender's title policy limit $ 1106. Owner's Cilie policy limit $ 1107. Agent's portion of the total Insurance premium $ 1108. Underwriters portion of the total insurance premium $ 1109. 1110, 1111. 1200. Government Recording and Transfer Charles 1201. Government recording charges (from GFE 07) 1202. Deed $ Mortgage $ Release $ 1203. Transfer taxes (from GFE #B) 1204. City/County tax/stamps: Deed $553.60 Mortgage $ 553,60 1205. State lax/stamps: Deed $ Mortgage $ 1206. $ 1207. $ 1300. Additional Settlement Charges 1301. Required services that you can shop for (from GFE #6) 1302. Title Report to Black Hawk County Abstract 135.00 1303. 1304. Document Preparation to McCrindle Law Firm - P.O.C. 1305. Closing Fee to Redfern Law Firm - P,G.C, 1306. 1307. 1308. 1400. Total Settlement Chargester on I eep 10,Sectlon J and 602, Section K) 688.60 I have care Hewed my account r by me In this I etgement St eme I and the best of myknowledge and belief, i1 is a hue and accurate atetem n ala pts and di bursemenls made on I furtheran ry that haw ecewed a copy of the HUO-15�� e(%) tatement. ( ((/ r (rr O i City of Waterloo, Iowa Buyer/Borrower Betty A. iegla Seller Buyer/Borrower Seller Th '• email St x emen1., tch I pa 's a true and accurate account of this transaction. I've caused or will cause the funds to be disbursed In accordance with this statement. k S. Rol Inger WARNING Itis a crime to knowingly make rats 0 2009-2012 Easy Solt. Previous editions are ob • ata. Settlement Agent Date n(s to the United States on this or any other similarform, Penalties upon conviction can include a fine or Imorisonmonl, Page 2 of 3 HU0.1 Comparison of Gbod Faith Estimate (GFE) and HUD4`Charges" - - !,: Charges That Cannot Increase HUD -1 Line Number Our origination charge #801 Your credit or charge (points) for the specific rate chosen #802 Your adjusted origination charges #803 Transfer taxes #1203 Charges That In Total Cannot Increase More Than 10% Government recording charges #1201 Total increase between OPE Ind MUNI ChargeiThat"Can Change ' Initial deposit for your escrow account #1001 Daily interest charges #901 Homeowner's Insurance #903 Loan Terms 'Good Faith Estimate %4 -,- HUD -1 :' 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Good Faith Estimate , HUD -1 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Good Falth Estimate - HUD1"`- 0.00 0.00 0.00 0.00 0.00 0.00 Your initial loan amount is $ Your loan tern is Years Your initial interest rate is % Your initial monthly amount owed for principal, interest, and any mortgage insurance is $ includes 0 Principal ❑ Interest ❑ Mortgage Insurance Can your interest rate rise? El No. 0 Yes, it can rise to a maximum of %. The first change will be on and can change again every after . Every change date, your interest rate can Increase or decrease by %. Over the life of the loan, your interest rate is guaranteed to never be lower than % or higher than %. Even if you make payments on time, can your loan balance rise? El No. 0 Yes, it can rise to a maximum of $ . Even if you make payments on time, can your monthly amount owed for principal, Interest, and mortgage insurance rise? CI No. 0 Yes, the first Increase can be on and the monthly amount owed can rise to $ . The maximum It can ever rise to is $ . Does your loan have a prepayment penalty? © No. ❑ Yes, your maximum prepayment penalty is $ . Does your loan have a balloon payment? El No. 0 Yes, you have a balloon payment of $ due In years on . Total monthly amount owed including escrow account payments O You do not have a monthly escrow payment for items, such as property taxes and homeowner's insurance. You must pay these items directly yourself. ❑ You have an additional monthly escrow payment of $ that results in a total initial monthly amount owed of $ . This includes principal, interest, any mortgage insurance and any items checked below: ❑ Property taxes LI Homeowner's insurance ❑ Flood insurance 0 ❑ ❑ Note: If you have any questions about the Settlement Charges and Loan Terms listed on this form, please contact your lender, 10 200 9-201 2 Easy Son. Previous editions are obsolete. Page 3 of 3 HUD -1 C. Kevin McCrindle, Attorney Return Document To: C. Kevin McCrindle, 607 Sycamore Street, Suite 500, Waterloo, IA 50703 Preparer Information: C. Kevin McCrindle, 607 Sycamore Street, Suite 500, Waterloo, IA 50703, Phone: (319) 2340535 Address Tax Statement: 1, & 11 Farms, Ltd., 7502 Hammond Avenue, Waterloo, IA 50701 WARRANTY DEED For the consideration of One Dollar and other valuable consideration, Betty A. Sieglaff, married, does hereby convey to L & 1-1 Farms, Ltd., an Iowa general partnership, the following described real estate in Black Hawk County, Iowa: The Northeast Quarter of the Southeast Quarter (NIL 1/4 SE 1/4) of Section 10, Township 87 North, Range 14 West of the 5th P.M. in Black Hawk County, Iowa, except Parcel "A" of Plat of Survey Doc, # 2014-04688 recorded August 29, 2013, being a part of the Southeast Quarter of Section 10, Township 87 North, Range 14 West of the Fifth Principal Meridian, Black Hawk County, Iowa and except the highway and adjoining public right of way (31.5 tillable acres, more or less). Grantor does hereby covenant with grantees, and successors in interest, that grantor holds the real estate by title in fee simple; that she has good and lawful authority to sell and convey the real estate; that the real estate is free and clear of all liens and encumbrances except as may be above stated; and grantor covenants to warrant and defend the real estate against the lawful claims of all persons except as may be above stated. Each of the undersigned hereby relinquishes all rights of dower, homestead and distributive share in and to the real estate. Words and phrases herein, including acknowledgment hereof, shall he construed as in the singular or plural number, and as masculine or feminine gender, according to the co text. f ,..11) Dated: May 051", 2016 STATE OF IOWA, COUNTY OF BLACK HAWK This record was acknowledged before me thisaS day of May, 2016, by Betty A. Sieglaff and Cecil H. Sieglaff, wife and husband. Lc'.uU/✓'� / .la/ Cecil H. Sieglaff, (1 r r tt' . Husband Grantor C. KEVIN MCCRINDLE COMMISSION NO. 100079 MY COMMISSION EXPIRES S--tS-2o1 w Signator of Notary Public REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT TO BE COMPLETED BY TRANSFEROR TRANSFEROR: Name Betty A. Sieglaff Address 1326 Maxhelen Boulevard, Unit 5A, Waterloo, IA 50703 Number and Street or RR City. Town or P 0 State Zip TRANSFEREE: Name L & H Farms, Ltd. Address 7502 Hammond Avenue, Waterloo, IA 50701 Number and Street or RR City, Town or P.O. Address of Property Transferred: farmland Number and Street or RR State Zip City, Town or P.O. State Zip Legal Description of Property: (Attach if necessary) The Northeast Quarter of the Southeast Quarter (NE1/4 SE 1/4) of Section 10, Township 87 North, Range 14 West of the 5th P.M. in Black Hawk County, Iowa, except Parcel "A" of Plat of Survey Doc. # 2014-04688 recorded August 29, 2013, being a part of the Southeast Quarter of Section 10, Township 87 North, Range 14 West of the Fifth Principal Meridian, Black Hawk County, Iowa, and except the highway and adjoining public right of way (31.5 tillable acres, more or less). 1. Wells (check one) x There are no known wells situated on this property. _ There is a well or wells situated on this property. The type(s), location(s) and legal status are stated below or set forth on an attached separate sheet, as necessary. 2. Solid Waste Disposal (check one) x There is no known solid waste disposal site on this property. _ There is a solid waste disposal site on this property and information related thereto is provided in Attachment #1, attached to this document. 3. Hazardous Wastes (check one) x There is no known hazardous waste on this property. _ There is hazardous waste on this property and information related thereto is provided in Attachment #1, attached to this document. 4. Underground Storage Tanks (check one) x There are no known underground storage tanks on this property. (Note exclusions such FILE WITH RECORDER DNR form 542-0960 (July 18, 2012) as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks, in instructions.) There is an underground storage tank on this property. The type(s), size(s) and any known substance(s) contained are listed below or on an attached separate sheet, as necessary. 5. Private Burial Site (check one) x There are no known private burial sites on this property. There is a private burial site on this property. The location(s) of the site(s) and known identifying information of the decedent(s) is stated below or on an attached separate sheet, as necessary. 6. Private Sewage Disposal System (check one) _AII buildings on this property are served by a public or semi-public sewage disposal system. x This transaction does not involve the transfer of any building which has or is required by law to have a sewage disposal system. _There is a building served by private sewage disposal system on this property or a building without any lawful sewage disposal system. A certified inspector's report is attached which documents the condition of the private sewage disposal system and whether any modifications are required to conform to standards adopted by the Department of Natural Resources. A certified inspection report must be accompanied by this form when recording. _There is a building served by private sewage disposal system on this property. Weather or other temporary physical conditions prevent the certified inspection of the private sewage disposal system from being conducted. The buyer has executed a binding acknowledgment with the county board of health to conduct a certified inspection of the private sewage disposal system at the earliest practicable time and to be responsible for any required modifications to the private sewage disposal system as identified by the certified inspection. A copy of the binding acknowledgment is attached to this form. _There is a building served by private sewage disposal system on this property. The buyer has executed a binding acknowledgment with the county board of health to install a new private sewage disposal system on this property within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. There is a building served by private sewage disposal system on this property. The building to which the sewage disposal system is connected will be demolished without being occupied. The buyer has executed a binding acknowledgment with the county board of health to demolish the building within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. [Exemption #9] _This property is exempt from the private sewage disposal inspection requirements pursuant to the following exemption [Note: for exemption #9 use prior check box]: _The private sewage disposal system has been installed within the past two years pursuant to permit number Information required by statements checked above should be provided here or on separate sheets attached hereto: I HEREBY DECLARE THAT I HAVE REVIEWED THE INSTRUCTIONS FOR THIS FORM AND THAT THE INFORMATION STATED ABOVE IS TRUE AND CORRECT. Signature: Telephone No.: (319) 505-2121 DNR form 542-0960 (July 18, 2012) is 11 1 111 1 i REAL ESTATE TRANSFER - DECLARATION OF VALUE Please read the instructions on the reverse side BEFORE completing and filing this form. Part I - TO BE COMPLETED BY BUYER, SELLER OR AGENT Dale of Instrument May Z7 2016 SELLER: Belt A. Sic IaiT Oeed 1 ® Contract _ 2 ❑ A Phone: [3.19).50572_1121„_,_.___.___ Seller Address: 1326 MaxheJen Boulevard. Unit SA. Waterloo IA 50701 BUYER: 1. & H Farms Ltd. Buyer Address: 7502 Hammond Avenue, Waterloo, IA 50701 e-mail: Address of Property Conveyed: farmland Legal Description: Oce 1 in AJdenditm e mail: Phone:(119) - 2H(11 2.2`J,5 Type of Sale: 0 Sale between related parties/family 0 Sale of partial interest 0 Trade 0 cult Claim Deed 0 Auction Was this a sale of AG LAND to ❑ Corporation 0 Trust 0 Alien 0 Non -Resident Alien ❑ Limited Partnership AL DECLARATION OF VALUE STATEMENT 1. Total Amount Paid 2. Amount Paid for Personal Property (see instructions) 3. Amount Paid for Real Propedy Only (1 minus 2) S $ $ 346,500.00 346,500.00 A 1 HEREBY DECLARE THAT THE INFORMATION CONTAINED IN PART I OF THIS FORM IS TRUE AND CORRECT AS DETAILED ON THE BACK OF THIS FORM , Printed Name: 47, KevinMcCriindlle /17.1140 //�,. LG G� Signature Phone II: (3L9)134•.05}5 ❑ Buyer or 0 Seller or 0 Agent or IX Attorney PART 11- TO BE COMPLETED BY THE ASSESSOR Primary Classification: 0 Res 4_ 0 Com 5 0 Ind 2_ ❑ Ag_ 1_ ❑ MultiRes _7_ Cityfrownship • Primary Parcel Number _.... A_ YearBlt ...__._ _.._. OccNUTC [._.__.... Classification Land Building Dwelling Total Residential Commercial Industrial Agricultural Multi Residential Comments: Effective On or Before 09/01/14 Iowa Department of Revenue ISBA 57006a (07/23/14) Addendum 1. The Northeast Quarter of the Southeast Quarter (NE1/4 SE 1/4) of Section 10, Township 87 North, Range 14 West of the 5th P.M. in Black Hawk County, Iowa, except Parcel "A" of Plat of Survey Doc. II 2014-04688 recorded August 29, 2013, being a part of the Southeast Quarter of Section 10, Township 87 North, Range 14 West of the Fifth Principal Meridian, Black Hawk County, Iowa, and except the highway and adjoining public right of way (31.5 tillable acres, more or less). WARRANTY DEED 0\ THE IOWA STATE BAR ASSOCIATION Official Form No. 101 • Recorder's Cover Sheet • • SOLI t•": Preparer Information: (Name, address and phone number) Mark S. Rolinger, 415 Clay Street, Cedar Falls, IA 50613, Phone: (319) 277-6830 Taxpayer Information: (Name and complete address) City of Waterloo, Community Planning & Development, 715 Mulberry Street, Waterloo, Iowa 50703 Return Document To: (Name and complete address) Mark S. Rolinger, 415 Clay Street, Cedar Falls, IA 50613 Grantors: Grantees: L & H Farms, Ltd. City of Waterloo, Iowa Legal description: See Page 2 Document or instrument number of previously recorded documents: 9La Iowa Sole Bar Association 2016 IOWAOOCSN it, , WARRANTY DEED For the consideration of One Dollar(s) and other valuable consideration, L & H Farms, Ltd., a partnership do hereby Convey to City of Waterloo, Iowa the following described real estate in Black Hawk County, Iowa: The South 189.5 feet of the North 938.85 feet of the North Half of the Southwest Quarter (N'/2 SW '/l) in Section No. 9, Township No. 88 North, Range No. 13 West of the Fifth Principal Meridian, Black Hawk County, Iowa, EXCEPT that part thereof conveyed to the City of Waterloo in a deed filed March 14, 2012 as Doc. No. 2012-16922 AND EXCEPT that part thereof described in a deed dated April 29, 1996 and filed May 1, 1996, at Book 567 Land Deeds at Page 633 AND EXCEPT that part thereof described in a deed dated April 4, 1997 and filed April 4, 1997 at Book 569 Land Deeds at Page 042, all filed in the Office of the Black hawk County Recorder. Subject to easements, restrictions, covenants, ordinances and limited access provisions of record and not of record. Grantors do Hereby Covenant with grantees, and successors in interest, that grantors hold the real estate by title in fee simple; that they have good and lawful authority to sell and Convey the real estate; that the real estate is free and clear of all liens and encumbrances except as may be above stated; and grantors Covenant to Warrant and Defend the real estate against the lawful claims of all persons except as may be above stated. Each of the undersigned hereby relinquishes all rights of dower, homestead and distributive share in and to the real estate. Words and phrases herein, including acknowledgment hereof, shall be construed as in the singular or plural number, and as masculine or feminine gender, according to the context. Dated on /14x7 �7i 2* I b L & H Farms, Ltd. 13y: Lanchaven Farms, Inc., Partner (Grantor) (Grantor) By: Curtis G. Hollis, President (Grantor) (Grantor) STATE OF IOWA , COUNTY OF BLACK HAWK This record was acknowledged before me on , by Curtis G. Hollis, President of Lanehaven Farms, Inc., Partner in L & H Farms, Ltd., a partnership MARK ROLINGER Commission Pm1Mr 162107 My Co:: MLX Signature orNotary rblic © The lowo Stale Bar Association 2016 Form No. 101, warranty need Iowanoes0 Revised January 2016 CTRL # C O Y Y Y Y M M##### 11 uiiru 1 57008L Ori 11 REAL ESTATE TRANSFER - DECLARATION OF VALUE ■ Please read the instructions comprised in form 57-011 before completing and filing this form. ■ Part I - TO BE COMPLETED BY BUYER, SELLER OR AGENT Date of Instrument (MMDDYYYY) 0 5 2 7 2- U I' 10 Enter the number matching your selection in the box at the end of the line: Deed (1) Contract (2) Seller: L & H Farms, Ltd. Phone Number: (319) 296-2255 Seller Address: 7502 Hammond Avenue City: Waterloo State: IA ZIP:50701 Buyer: City of Waterloo, Iowa Buyer Address: 715 Mulberry Street State: IL email: bgholhsi,lanehaven.cotn Phone Number: (319)291-4366 City: Waterloo ZIP: 50703 email: noel.anderson@waterloo-ia.org waterloo-ia.org Address of Property Conveyed: No Street Address City: waterloo Legal Description: see I in Addendum State: IA ZIP: Enter the number corresponding to your selection in the box at the end of the line, if applicable. Type of Sale: Sale between related parties/family (1); Sale of partial interest (2); Trade (3); Quit Claim Deed (4); Auction (5) Was this a sale of agricultural land to: Corporation (1); Trust (2); Alien (3); Non-resident Alien (4); Limited Partnership (5) DECLARATION OF VALUE STATEMENT 1. Total Amount Paid 2. Amount Paid for Personal Property 3. Amount Paid for Real Property I hereby declare that the information contained in Part I of this form is true and correct. Printed Name: Mark S. Itolinger Signature: Thi ■ Effective On or Before 07/01/16 Phone Number: (319) 277-6830 .00 .00 .00 Buyer or Seller , or Agent or Attorney 1X;1 Page 1 ISBA 57-006a (03/15/16) ■ Real Estate Transfer — Declaration of Value, Page 2 Part 11 - TO BE COMPLETED BY THE ASSESSOR Assessed values must be as of January 1 of the year in which the sale occurred. SECTION A: SINGLE CLASSIFICATION Primary Classification: Residential (4); Commercial (5); Industrial (2); Agricultural (1); Multi -residential (7) City/Township: Primary Parcel Number: Occupancy: Year Built: Class Land Building Dwelling Res .00 , .00 .00 Corp ,. .00.00 , .00 MultiRes Ind • .00 .00 Ag.00 • .00 .00 MultiRes • .00.00 .00 Subtotal SECTION B: DUAL CLASSIFICATION Primary Classification: Commercial (5); Industrial (2); Multi -residential (7) Occupancy: Primary Parcel Number: Year Built: City/Township: 00 Glass Land Building Dwelling Com .00 .00 Ind .00 , .00 MultiRes .00 .00 .00 Subtotal Total: Add Subtotal amounts from Sections A and B Enter amount from line 3, page 1 Ratio: Divide Total amount by the amount on fine 3, page 1 Comments: .00 .00 .00 NUTC Jurisdiction ■ Effective on or before 07/01/16 Page 2 ISBA 57-006b (03/15/16) 111 Addendum 1. The South 189.5 feet of the North 938.85 feet of the North Half of the Southwest Quarter (N '/z SW '/4) in Section No. 9, Township No. 88 North, Range No. 13 West of the Fifth Principal Meridian, Black Hawk County, Iowa, EXCEPT that part thereof conveyed to the City of Waterloo in a deed filed March 14, 2012 as Doc. No. 2012-16922 AND EXCEPT that part thereof described in a deed dated April 29, 1996 and filed May 1, 1996, at Book 567 Land Deeds at Page 633 AND EXCEPT that part thereof described in a deed dated April 4, 1997 and filed April 4, 1997 at Book 569 Land Deeds at Page 042, all filed in the Office of the Black Hawk County Recorder. Subject to easements, restrictions, covenants, ordinances and limited access provisions of record and not of record. REAL ESTATE TRANSFER - GROUNDWATER HAZARD STATEMENT TO BE COMPLETED BY TRANSFEROR TRANSFEROR: Name L & H Farms, Ltd. Address 7502 Hammond Avenue, Waterloo, Iowa 50701 Number and Street or RR City, town or P,O. State Zip TRANSFEREE: Name City of Waterloo, Iowa Address 715 Mulberry Street, Waterloo, IA 50703 Number and Street or RR City, Town or P.O. - Slate Zip Address of Property Transferred: No Street Address Number and Street or RR City, Town or P.O. Slate Zip Legal Description of Property: (Attach if necessary) See 1 in Addendum 1. Welts (check one) ✓There are no known wells situated on this property. There is a well or wells situated on this property. The type(s), location(s) and legal status are stated below or set forth on an attached separate sheet, as necessary. 2. Solid Waste Disposal (check one) There is no known solid waste disposal site on this property. _ There is a solid waste disposal site on this property and information related thereto is provided in Attachment #1, attached to this document. 3. Hazardous Wastes (check one) (,There is no known hazardous waste on this property. _ There is hazardous waste on this property and information related thereto is provided in Attachment #1, attached to this document. 4. Untlefground Storage Tanks (check one) ✓_ There are no known underground storage tanks on this property. (Note exclusions such as small farm and residential motor fuel tanks, most heating oil tanks, cisterns and septic tanks, in instructions.) _ There is an underground storage tank on this property. The type(s), size(s) and any known substance(s) contained are listed below or on an attached separate sheet, as necessary. FILE WITH RECORDER DNR form 542-0960 (July 18, 2012) 5. Privat urial Site (check one) ere are no known private burial sites on this property. There is a private burial site on this property. The location(s) of the site(s) and known identifying information of the decedent(s) is stated below or on an attached separate sheet, as necessary. 6. Private Sewage Disposal System (check one) All buildings on this property are served by a public or semi-public sewage disposal system. X This transaction does not involve the transfer of any building which has or is required by law to have a sewage disposal system. — There is a building served by private sewage disposal system on this property or a building without any lawful sewage disposal system. A certified inspector's report is attached which documents the condition of the private sewage disposal system and whether any modifications are required to conform to standards adopted by the Department of Natural Resources. A certified inspection report must be accompanied by this form when recording. _ There is a building served by private sewage disposal system on this property. Weather or other temporary physical conditions prevent the certified inspection of the private sewage disposal system from being conducted. The buyer has executed a binding acknowledgment with the county board of health to conduct a certified inspection of the private sewage disposal system at the earliest practicable time and to be responsible for any required modifications to the private sewage disposal system as identified by the certified inspection. A copy of the binding acknowledgment is attached to this form. _ There is a building served by private sewage disposal system on this property. The buyer has executed a binding acknowledgment with the county board of health to install a new private sewage disposal system on this property within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. There is a building served by private sewage disposal system on this property. The building to which the sewage disposal system is connected will be demolished without being occupied. The buyer has executed a binding acknowledgment with the county board of health to demolish the building within an agreed upon time period. A copy of the binding acknowledgment is provided with this form. [Exemption #9] _ This property is exempt from the private sewage disposal inspection requirements pursuant to the following exemption [Note: for exemption #9 use prior check box]: The private sewage disposal system has been installed within the past two years pursuant to permit number Information required by statements checked above should be provided here or on separate sheets attached hereto: I HEREBY DECLARE THAT 1 HAVE REVIEWED THE INSTRUCTIONS FOR THIS FORM AND THAT THE INFORMATION STATED ABOVE IS TRUE AND CORRECT. Signature: rens eror or gent Telephone No.: (319) 296-2255 FILE WITH RECORDER DNR form 542-0960 (July 18, 2012) Addendum 1. The South 189.5 feet of the North 938.85 feet of the North Half of the Southwest Quarter (N '/z SW '/) in Section No. 9, Township No. 88 North, Range No. 13 West of the Fifth Principal Meridian, Black Hawk County, Iowa, EXCEPT that part thereof conveyed to the City of Waterloo in a deed filed March 14, 2012 as Doc. No. 2012-16922 AND EXCEPT that part thereof described in a deed dated April 29, 1996 and filed May 1, 1996, at Book 567 Land Deeds at Page 633 AND EXCEPT that part thereof described in a deed dated April 4, 1997 and filed April 4, 1997 at Book 569 Land Deeds at Page 042, all filed in the Office of the Black Hawk County Recorder. Subject to easements, restrictions, covenants, ordinances and limited access provisions of record and not of record.