Resolution No. 2016-004 (13)Y AMP" First American Title Company
National Commercial Services
4380 La Jolla Village Drive, Suite 110 • San Diego, CA 92122
Office Phone:(858)410-39000ffice Fax:
Seller's Final Settlement Statement
Amended: Wednesday Feb 3, 2016 3:32 PM
Property: 3200 Fruitland Avenue, Vernon, CA File No: NCS-666223-SD
Officer: Janine Hudson/AR
Settlement Date: 02/02/2016
Disbursement Date:
Print Date: 02/04/2016, 12:49 PM
Buyer: Fruitland Owner LLC
Address: 11000 Wilshire Blvd., #24710, c/o Cohen Asset Management, Inc., Attn: Bradley S. Cohen, Los Angeles,
CA 90024
Seller: Pechiney Cast Plate, Inc.
Address: 4700 Daybreak Parkway, South Jordan , UT 84095
Charge Description
Seller Charge
Seller Credit
Consideration:
Total Consideration
24,173,085.00
Deposits in Escrow:
Receipt No. 191129483 on 02/01/2016 by BAKER HOSTETLER LLP FBO Pechiney Cast
Plate, Inc.
45,420.97
Adjustments:
Funds deposited by City/Released to Seller
25,600,000.00
Unsecured Note from Seller to City of Vernon
1,426,915.00
Extension Fees 8 @ $25,000.00 each
200,000.00
Credit to seller for 1/2 costs of LLA
7,330.60
Prorations:
2nd half 2015-16 taxes (Parcel 13) 01/01/16 to 02/02/16 @$31418.30/semi
5,508.96
Partial 2nd half 2015-16 taxes Parcel 12 01/01/16 to 02/02/16 $23141.94/semi
4,057.76
Title/Escrow Charges to:
Closing -Escrow Fee to First American Title Company National Commercial Services
3,250.00
Policy (0) - Standard ALTA (based on Assign PP $22,556,769) to First American Title Company
National Commercial Services
12,407.00
Record Deed to First American Title Company National Commercial Services
52.00
Record Access License Agreement to First American Title Company National Commercial
Services
71.00
Documentary Transfer Tax to First American Title Company National Commercial Services
24,812.70
Disbursements Paid:
Extension Fee -June to Rio Tinto Services, Inc.
25,000.00
Extension Fee -July to Rio Tinto Services, Inc.
25,000.00
Extension Fee -August to Rio Tinto Services, Inc.
25,000.00
Extension Fee -September to Rio Tinto Services, Inc.
25,000.00
Extension Fee -October to Rio Tinto Services, Inc.
25,000.00
Extension Fee -November to Rio Tinto Services, Inc.
Extension Fee -December to Rio Tinto Services, Inc.
Extension Fee -January to Rio Tinto Services, Inc.
Cash (X To) ( From) Seller
25,000.00
25,000.00
25,000.00
2,592.15
Totals
25,852,751.57
25,852,751.57
Page 1 of 1
Y AMP" First American Title Company
National Commercial Services
777 South Figueroa Street, Suite 400 • Los Angeles, CA 90017
Office Phone:(213)271-17000ffice Fax:(877)805-5023
Seller's Settlement Statement
Property: APN 6310-008-12, 6310-008-13 , and 6310- File No: NCS-747243-LA2
008-800, Los Angeles, CA Officer: Maurice Neri/MN
Estimated Settlement Date:
Disbursement Date:
Print Date:
Buyer: Fruitland Owner LLC
Address:
Seller: City of Vernon
Address:
Lender: Available
Address:
New Loan No.:
02/02/2016
02/01/2016, 4:27 PM
Charge Description
Seller Charge
Seller Credit
Consideration:
Total Consideration
22,556,769.00
Adjustments:
Initial deposit released to Seller N/A pprice
250,000.00
Credit to Seller for 1/2 costs LLA
7,330.60
Cr. Seller escrow fee w/Pechine San Diego)
3,250.00
Extension deposits -section 3.6 N/A to price
75,000.00
Prorations:
Partial 2nd half Taxes (6310-008-12) 01/01/16 to 02/02/16 @$23141.94/semi
4,057.76
2nd half Taxes (6310-008-13) 01/01/16 to 02/02/16 @$31418.30/semi
5,508.96
Title/Escrow Charges to:
Closing -Escrow Fee 1/2 to First American Title Company National Commercial Services
3,250.00
Disbursements Paid:
Extension deposits released 10/09/15 to Light & Power Account
75,000.00
Balance of deposit released 11/03/15 to Light & Power Account
250,000.00
Cash (X To) ( From) Seller
22,554,532.88
Totals
22,892,349.60 22,892,349.60
Seller(s):
City of Vernon
By:_
Name:
Title:
Initials: Page 1 of 1
CITY:
THE CITY OF VERNON
By:
Michael McCormick, Mayor
ATTEST:
Mari E. Ayala, i y Clerk
APPROVED VO FORM:
u A 4
Hema "Pa el, ity Attorn
CITY/OWNER SET'rL.EMENT STATEMENT