- 33 - statement is the amount of the loan proceeds. Set out below is a summary of the settlement sheets for the purchase of the 39 condominium units in Paseos Castellanos: Paseos Castellanos Buyer Seller Contract sales price $3,020,700.00 $3,020,700.00 Price adjustment 476.97 476.97 Other charges 30,934.87 -0- Gross amount due 3,052,111.84 3,021,176.97 Principal amount of loans 2,869,625.00 -0- Builder fee 205,407.60 Rent advance -0- 68,625.00 Rental deficit contribution-0- 587,676.00 Other credits -0- 141,575.39 Amount due from buyer 182,486.84 Amount due to seller 2,017,892.98 According to the settlement sheets, the aggregate principal amount of the loans, $2,869,625, was credited as follows: Buyer Seller Others Total Settlement charges -0- -0- $30,934.87$30,934.87 Builder fee $205,407.60-0- -0- 205,407.60 Rent advance 68,625.00 -0- -0- 68,625.00 Rental deficit contribution587,676.00-0- -0- 587,676.00 Other credits -0- -0- 141,575.39141,575.39 Amount due from buyer-182,486.84-0- -0- -182,486.84 Amount due to seller -0- $2,017,892.98 -0-2,017,892.98 679,221.762,017,892.98 172,510.262,869,625.00 TMI issued a Commitment and Certificate of Insurance dated January 11, 1983, under which it committed to issue mortgage insurance for 25 percent of the first loss amount with respect to the mortgage on each condominium unit. Subsequently, EMI and CSL executed an Assignment of Mortgage dated March 31, 1983, for each condominium unit transferring their interest in each note to the NationalPage: Previous 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 Next
Last modified: May 25, 2011