Current through Register Vol. 54, No. 44, November 2, 2024
Section 1059.12 - Settlement sheet(a) The owner and proposed buyer shall use the Form SA-2 "Standard Settlement Sheet" at any closing on the sale of rights. The SA-2 is available on the Authority's web site at www.philapark.org/tld.(b) The SA-2 must include the information required by the Authority, including the following: (1) The names and addresses of the owner and proposed buyer.(2) The names and address of the brokers or attorneys used in the transaction.(3) The name and address of the lender and a designated contact person employed by the lender, if any.(4) A copy of all certificates or other documents authorizing the lender to make commercial loans in this Commonwealth.(5) The amount, term and interest rate of any loan used to purchase the rights.(6) The certificate numbers.(7) The total consideration for the rights to be sold and any payment terms, including loan contingencies and nonmonetary consideration.(8) An allocation of funds expended in the transaction.(9) Fees and costs associated with the sale, including those payable to any broker or attorney, or both.(10) Signatures of the owner and proposed buyer, or their designated agents, and the brokers.