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Raldon Corp. Buyer Seller
Contract sales price $485,995.00 $485,995.00
Settlement charges to buyer 2,132.60 -0-
Price adjustment 12.50 12.50
Gross amount due 488,140.10 486,007.50
Principal amount of loans 461,675.00 -0-
Builder fee 29,159.70 29,159.70
Rent advance 5,482.00 5,482.00
Rental deficit contribution -0- -0-
Other credits 625.00 625.00
Settlement charges to seller -0- 5,835.04
Total credits 496,941.70 41,101.74
Amount due buyer 8,801.60 -0-
Amount due seller -0- 444,905.76
According to the settlement sheets, the aggregate
principal amount of the loans, $461,675, was credited as
follows:
Buyer Seller Others Total
Settlement charges to buyer -0- -0- $2,132.60 $2,132.60
Amount due less loan $-26,465.10 -0- -0- -26,465.10
Builder fee 29,159.70 -0- -0- 29,159.70
Rent advance 5,482.00 -0- -0- 5,482.00
Other credit 625.00 -0- -0- 625.00
Settlement charges to seller -0- -0- 5,835.04 5,835.04
Amount due seller $444,905.76 -0- 444,905.76
8,801.60 444,905.76 7,967.64 461,675.00
EMI assigned to Community Savings & Loan, Inc. (CSL),
a savings and loan association affiliated with EPIC, its
interest in each of the promissory notes and related deeds
of trust that had been issued by EA 83-XII in connection
with its purchase of the five properties from Raldon. EMI
made the assignment in an Assignment of Deed of Trust dated
March 30, 1983. In the same instrument, CSL further
assigned its interest as holder of each promissory note
under the related deed of trust to the North Jersey Savings
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