Consent to Settlement Statement OMB No. 2502-0265 nuu=1 v.o.veNa1ui1eiu Ui rWUZ1119 v •OI q- P-5 6
A. Settlement Statement and Urban Development OMB No.2502-0265
B. Type of Loan
.O 1.FHA O 2.FmHA O 3.Conv.Unins. 6.File Number 7.Loan Number 8. Mortg.Ins.Case Num.
CI-029-01
O 4.V.A. Q 5.Conv.Ins.
ID:
C. NOTE:This form is furnished to give you a statement of actual settlement costs.Amounts paid to and by the settlement agent are shown.Items
marked"(p.o.c.)"were paid outside the closing;they are shown here for informational purposes and are not included in the totals.
D.NAME OF BORROWER: City of Miami Beach,Florida,a municipal corporation,organized and existing under the laws of the State of Florida
Address of Borrower: 1700 Convention Center Drive,Miami Beach,Florida 33139
E.NAME OF SELLER: MDCDC:The LONDON,LLC,a Florida limited liability company
Address of Seller: Go Miami Beach CDC,945 Pennsylvania Avenue 2nd Fl,Miami Beach,Florida 33139 TIN:
F.NAME OF LENDER:
Address of Lender:
G.PROPERTY LOCATION: 1965&1975 Washington Ave,Miami Beach,Florida 33139
H.SETTLEMENT AGENT. BELOFF PARKER JACOBS,PLC TIN:27-4763042
Place of Settlement: 1691 Michigan Avenue,Suite:320,Miami Beach,Florida 33139 Phone:305-673-1101
I. SETTLEMENT DATE: 3/14/14 DISBURSEMENT DATE:3/14/14
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 price 10.00 401.Contract sales price 10.00
102.Personal property 402.Personal property
103.Settlement charges to borrower(Line 1400) 30,621.70 403.
104. 404.
105. 405.
-Adjustments for items paid by seller in advance: Adjustments for items paid by seller in advance:
106.City/town taxes 406.City/town taxes
107.County taxes 407.County taxes
108.Assessments 408.Assessments
109. 409.
110. 410.
111. 411.
112. 412.
120.Gross amount due from borrower: 30,631.70 420.Gross amount due to seller: 10.00
200.Amounts paid 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) 502.Settlement charges to seller(line 1400)
203.Existing loan(s)taken subject to 503.Existing loan(s)taken subject to.
204.Principal amount of second mortgage 504.Payoff of first mortgage loan
205. 505.Payoff of second mortgage loan
206. 506.Deposits held by seller
207.Principal amt of mortgage held by seller 507.Principal amt of mortgage held by seller
208. 508.
209. 509.
Adjustments for items unpaid by seller: Ad ustments for items unpaid by seller:
210.City/town taxes 510.City/town taxes
211.County taxes 511.County taxes
212.Assessments 512.Assessments
213. 513.
214. 514.
215. 515.
216. 516.
217. 517.
218. 518.
219. 519.
220.Total paid by/for borrower: 0.00 520.Total reductions in amount due seller: 0.00
300.Cash at settlement fromlto borrower: 600.Cash at settlement to/from seller:
301.Gross amount due from borrower 30,631.70 601.Gross amount due to seller 10.00
(line 120) (line 420)
302.Less amount paid by/for the borrower 0.00 602.Less total reductions in amount due seller 0.00
(fine 220) (line 520)
303.Cash( Q From []To )Borrower: 30,631.70 603.Cash(Z✓ To F] From )Seller: 10.00
Substitute Form 1099 Seller Statement: The information contained in blocks E,G.H,and I and on line 401 is important tax information and is being
furnished to the IRS. If you are required to file a return,a negligence penalty or other sanction will be imposed on you if this item is required to be reported and
the IRS determines that it has not been reported.
Seller Instructions: If this real estate was your principal residence,file Form 2119,Sale or Exchange of Principal Residence,for any gain,with your tax
return;for other transactions,complete the applicable parts of Form 4797,Form 6262 and/or Schedule D(Form 1040).
I
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HUD-1 U.S.Department of Housing and Urban Development Page 2
L.Settlement charges Borrower POC Seller POC Paid from Paid from
700.Total Sales/Brokers Com.based on price $2,007,302.00 @ %= Borrower's Seller's
Funds at Funds at
701. %to Settlement Settlement
702• %to
703. Commission paid at settlement
704. to
800.Items payable in connection with loan: Borrower POC Seller POC
801. Loan origination fee %to
802. Loan discount %to
803. Appraisal fee to
804. Credit report to
805. Lender's inspection fee to
806. Mortgage insurance application fee to
807. Assumption Fee to
808. to
809. to
810. to
811. to
900.Items required by lender to be paid in advance: Borrower POC Seller POC
901.Interest from to /day
902.Mortgage insurance premium for months to
903.Hazard insurance premium for years to
904.Flood insurance premium for years to
905. years to
1000,Reserves der)osited with lender: Borrower POC Seller POC
1001.Hazard insurance months @ per month
1002.Mortgage insurance months @ per month
1003.City property taxes months @ per month
1004.County property taxes months @ per month
1005.Annual assessments months @ per month
1006. Flood insurance months @ per month
1007. months @ per month
1008.. months @ per month
1009.Aggregate accounting adjustment
1100.Title charges: Borrower POCSeller POC
1101.Settlement or closing fee to BELOFF PARKER JACOBS,PLC 350.00
1102.Abstract or title search to Clear Title Group,LLC 350.00
1103.Title examination to
1104.Title insurance binder to
1105.Document preparation to
1106.Notary fees to
1107.Attorney's Fees to
(includes above item numbers: )
1108.Title Insurance to Chicago Title Insurance Company/Clear Title Group,LLC 7,593.50
(includes above item numbers: )
1109.Lender's coverage(Premium):
1110. Owner's coverage(Premium): $2,007,302.00($7,593.50)
1111. Endorse:
1112.Administrative fee to BELOFF PARKER JACOBS,PLC 175.00
1113. to
1200.Government recording and transfer charges:
1201.Recording fees Deed $35.50 Mortgage(s) Releases 35.50
1202.City/county tax/stamps Deed $9,033.30 Mortgage(s) 9,033.30
1203.State tax/stamps Deed $12,044.40 Mortgage(s) 12,044.40
1204.Resolutions to
1205. to
1300. i'o al settlement c es: Borrower POC Seller POC
1301.Survey to Hadonne 450.00
1302.Pest Inspection to
1303.Lien Search to Florida Porperty Search,Inc. 590.00
1304. to
1305. to
1306. to
1307. to
1308.' to
1309.
1400.Total settlement charges:
Enter on lines 103 Section J and 502 Section K 30.621.701 0.00
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HUD-l. SETTLEMENT STATEMENT ADDENDUM
File Number: CI-029-01
I have carefully reviewed the HUD-1 Settlement Statement and to the best of my knowledge and belief,it is a true
and accurate statement of all receipts and disbursements made on my account or by me in this transaction. I
further certify that I have received a copy of the HUD-1 Settlement Statement.
Borrower(s)
City of Miami Beach, Flori , a municpal corporation
organized an existing er the laws of the State of Florida and its successor
By:
Jimmy rales
City Ma er _
By:
Rafa 1 ranado
City Cl k :'•�z .
Seller(s) I ;; ••°
VA
MDCDC:The LONDON, LLC /; :INCop
a Florida limited liability company !`
P an Y OP rED.- 71
By: Miami Beach Community Development Corporation, Iwrt-,
a Florida Not for Profit corporation
�� �,\.y•. \c '�� '` � '
By
ro�.
k JohnjVdE
Chairman
(Corporate Seal)
Settlement Agent
The HUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction. I have
caused or will cause the funds to be disbursed in accordance with this statement.
BELO; R JAC S, PLC
By: Date: 14
APPROVED AS TO
FORM&LANGUAGE
&FO CUTION
1(3114-
0 ath
WARNING:It is a crime to knowingly make false statements to the United States on this or any other similar form.
Penalties upon conviction can include a fine and imprisonment. For details see: Title 18 U.S.Code Section 1001
and Section 1010.
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