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This form is a statement of final loan terms and closing costs.

Compare this
Closing Disclosure document with your Loan Estimate.

Closing Information Transaction Information Loan Information


Date Issued 6/7/2017 Borrower Scott Robert Dagel and Karla Jo Dagel Loan Term 30 years
Closing Date 6/16/2017 1213 Skyline Dr Purpose Purchase
Disbursement Date
6/16/2017 Watertown, SD 57201-1161 Product 1 Year Interest Only, 1
Settlement Agent Green Roby Oviatt LLP Seller Tom Dagel aka Thomas J. Dagel mo./1 mo. Adjustable Rate
File # Loan Type x Conventional FHA
Property SE 1/4 NE 1/4 except Lot VA
Watertown, SD 57201 Lender Farm Credit Services of America Loan ID # 912979
MIC #
Sale Price $150,000

Loan Terms Can this amount increase after closing?

Loan Amount $738,400 NO

Interest Rate 4.250 % YES Adjusts


Can go
every 1 months starting in month 2
as high as 22.250% in year 1

See AIR Table on page 4 for details


Monthly Principal & Interest $2,615.17 YES Adjusts every 1 months starting in month 2
Can go as high as $13,714 in year 2

See Projected Payments below for your Includes only interest and no principal until year 2

Estimated
Total Monthly Payment See AP Table on page 4 for details

Does the loan have these features?

Prepayment Penalty NO
Balloon Payment NO

Projected Payments
Year 1
Years 2-30
Payment Calculation
Principal & Interest $615 min $2,445 min

$13,691 max $13,714 max
only interest

Mortgage Insurance + 0 + 0

Estimated Escrow + 0 + 0
Amount can increase over time

Estimated Total
Monthly Payment $615$13,691 $2,445$13,714

This estimate includes In escrow?
Estimated
Taxes, Insurance x Property Taxes NO
&
Assessments $711.05 x Homeowners Insurance NO

Amount can increase over time a month Other:

See page 4 for details See Escrow Account on page 4 for details. You must pay for other property
costs separately.

Costs at Closing
Closing Costs
$7,945.75 Includes $4,673.25 in Loan Costs + $3,272.50 in Other Costs - $0
in Lender Credits. See page 2 for details.

Cash to Close
-$585,985.59 Includes Closing Costs. See Calculating Cash to Close on page 3 for details.

CLOSING DISCLOSURE GTRIDCDWS_S 1215 Page 1 of 5 LOAN ID # 912979


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Closing Cost Details
Borrower-Paid Seller-Paid Paid by
Loan Costs At Closing Before Closing At Closing Before Closing Others
A. Origination Charges $3,500.00
01 % of Loan Amount (Points)
02 Appraisal Fee $500.00
03 Construction Fee $2,500.00
04 Origination Fee $500.00
05
06
07
08
B. Services Borrower Did Not Shop For $17.50
01 Flood Certification to ServiceLink National Flood $17.50
02
03
04
05
06
07
08
09
10
C. Services Borrower Did Shop For $1,155.75
01 Title - Lender's Title Insurance to First Dakota Title - Watertown $996.00
02 Title - Title Exam to First Dakota Title - Watertown $159.75 $159.75
03
04
05
06
07
08
D. TOTAL LOAN COSTS (Borrower-Paid) $4,673.25
Loan Costs Subtotals (A + B + C) $4,673.25


Other Costs
E. Taxes and Other Government Fees $60.00
01 Recording Fees Deed: $30.00 Mortgage: $30.00 $60.00
02 State Tax/Stamps to Deed $150.00;Mortgage $0.00 $150.00
F. Prepaids $3,000.00
01 Homeowner's Insurance Premium (12 mo.) to Fischer Rounds & Assoc $3,000.00
02 Mortgage Insurance Premium ( mo.)
03 Prepaid Interest ( per day from to ) $0
04 Property Taxes ( mo.)
05
G. Initial Escrow Payment at Closing
01 Homeowner's Insurance per month for mo.
02 Mortgage Insurance per month for mo.
03 Property Taxes per month for mo.
04
05
06
07
08 Aggregate Adjustment $0.00
H. Other $212.50
01 2nd Half 2016 due 2017 RE Taxes to Codington County Treasurer $2,766.29
02 Title - Owner's Title Insurance (optional) to First Dakota Title - Watertown $212.50 $212.50
03
04
05
06
07
08
I. TOTAL OTHER COSTS (Borrower-Paid) $3,272.50
Other Costs Subtotals (E + F + G + H) $272.50 $3,000.00

J. TOTAL CLOSING COSTS (Borrower-Paid) $7,945.75


Closing Costs Subtotals (D + I) $4,945.75 $3,000.00 $3,288.54
Lender Credits

CLOSING DISCLOSURE GTRIDCDWS_S 1215 Page 2 of 5 LOAN ID # 912979


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Loan Terms
Calculating Cash to Close Use this table to see what has changed from your Loan Estimate.
Loan Estimate Final Did this change?
Total Closing Costs (J) $12,694.00 $7,945.75 YES See Total Loan Costs (D) and Total Other Costs (I)
(I).

Closing Costs Paid Before Closing $0 -$3,000.00 YES You paid these Closing Costs before closing.
Closing Costs Financed $0
$0 NO
(Paid from your Loan Amount)
Down Payment/Funds from Borrower -$700,000.00 -$588,400.00 YES You increased this payment. See details in Section L.
Deposit $0 $0 NO
Funds for Borrower $0 $0 NO
Seller Credits $0 $0 NO
Adjustments and Other Credits $0 -$2,531.34 YES See details in Section L.
Cash to Close -$687,306.00 -$585,985.59

Summaries of Transactions Use this table to see a summary of your transaction.


BORROWERS TRANSACTION SELLERS TRANSACTION
K. Due from Borrower at Closing $154,945.75 M. Due to Seller at Closing $150,106.25
01 Sale Price of Property $150,000.00 01 Sale Price of Property $150,000.00
02 Sale Price of Any Personal Property Included in Sale 02 Sale Price of Any Personal Property Included in Sale
03 Closing Costs Paid at Closing (J) $4,945.75 03 Reissue Credit Due to Seller $106.25
04 04
Adjustments 05
05 06
06 07
07 08
Adjustments for Items Paid by Seller in Advance Adjustments for Items Paid by Seller in Advance
08 City/Town Taxes to 09 City/Town Taxes to
09 County Taxes to 10 County Taxes to
10 Assessments to 11 Assessments to
11 12
12 13
13 14
14 15
15 16
L. Paid Already by or on Behalf of Borrower at Closing $740,931.34 N. Due from Seller at Closing $5,819.88
01 Deposit 01 Excess Deposit
02 Loan Amount $738,400.00 02 Closing Costs Paid at Closing (J) $3,288.54
03 Existing Loan(s) Assumed or Taken Subject to 03 Existing Loan(s) Assumed or Taken Subject to
04 04 Payoff of First Mortgage Loan
05 Seller Credit 05 Payoff of Second Mortgage Loan
Other Credits 06
06 07
07 08 Seller Credit
Adjustments 09
08 10
09 11
10 12
11 13
Adjustments for Items Unpaid by Seller Adjustments for Items Unpaid by Seller
12 City/Town Taxes to 14 City/Town Taxes to
13 County Taxes 01/01/17 to 06/17/17 $2,531.34 15 County Taxes 01/01/17 to 06/17/17 $2,531.34
14 Assessments to 16 Assessments to
15 17
16 18
17 19
CALCULATION CALCULATION
Total Due from Borrower at Closing (K) $154,945.75 Total Due to Seller at Closing (M) $150,106.25
Total Paid Already by or on Behalf of Borrower at Closing (L) -$740,931.34 Total Due from Seller at Closing (N) -$5,819.88
Cash to Close From x To Borrower $585,985.59 Cash From x To Seller $144,286.37

CLOSING DISCLOSURE GTRIDCDWS_S 1215 Page 3 of 5 LOAN ID # 912979


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Additional Information About This Loan

Loan Disclosures
Assumption Escrow Account
If you sell or transfer this property to another person, your lender For now, your loan
will allow, under certain conditions, this person to assume this will have an escrow account (also called an impound or trust
loan on the original terms. account) to pay the property costs listed below. Without an escrow
x will not allow assumption of this loan on the original terms. account, you would pay them directly, possibly in one or two large
payments a year. Your lender may be liable for penalties and interest
Demand Feature for failing to make a payment.
Your loan
has a demand feature, which permits your lender to require early Escrow
repayment of the loan. You should review your note for details. Escrowed Estimated total amount over year 1 for
x does not have a demand feature. Property Costs your escrowed property costs:
over Year 1
Late Payment
If your payment is more than 15 days late, your lender will charge a Non-Escrowed Estimated total amount over year 1
late fee of 5% of the principal and interest overdue. Property Costs for your non-escrowed property costs:
over Year 1

You may have other property costs.


Negative Amortization (Increase in Loan Amount)
Under your loan terms, you Initial Escrow A cushion for the escrow account you
Payment pay at closing. See Section G on page 2.
are scheduled to make monthly payments that do not pay all of
the interest due that month. As a result, your loan amount will
increase (negatively amortize), and your loan amount will likely Monthly Escrow The amount included in your total
become larger than your original loan amount. Increases in your Payment monthly payment.
loan amount lower the equity you have in this property.
x may have monthly payments that do not pay all of the interest x will not have an escrow account because you declined it x your
due that month. If you do, your loan amount will increase lender does not offer one. You must directly pay your property
(negatively amortize), and, as a result, your loan amount may costs, such as taxes and homeowners insurance. Contact your
become larger than your original loan amount. Increases in your lender to ask if your loan can have an escrow account.
loan amount lower the equity you have in this property.
do not have a negative amortization feature. No Escrow
Estimated Estimated total amount over year 1. You
$7,821.55
Partial Payments Property Costs must pay these costs directly, possibly
Your lender over Year 1 in one or two large payments a year.
x may accept payments that are less than the full amount due Escrow Waiver Fee
(partial payments) and apply them to your loan.
may hold them in a separate account until you pay the rest of the In the future,
payment, and then apply the full payment to your loan. Your property costs may change and, as a result, your escrow pay
ment may change. You may be able to cancel your escrow account,
does not accept any partial payments.
but if you do, you must pay your property costs directly. If you fail
If this loan is sold, your new lender may have a different policy. to pay your property taxes, your state or local government may (1)
impose fines and penalties or (2) place a tax lien on this property. If
Security Interest you fail to pay any of your property costs, your lender may (1) add
You are granting a security interest in the amounts to your loan balance, (2) add an escrow account to your
SE 1/4 NE 1/4 except Lot H-1 and highway r-o-w in 33-118-51, loan, or (3) require you to pay for property insurance that the lender
Watertown, SD 57201 buys on your behalf, which likely would cost more and provide fewer
benefits than what you could buy on your own.
You may lose this property if you do not make your payments or
satisfy other obligations for this loan.

Adjustable Payment (AP) Table Adjustable Interest Rate (AIR) Table


Interest Only Payments? YES For your first 12 payments
Index + Margin + 1%
Initial Interest Rate 4.250%
Optional Payments? NO

Minimum/Maximum Interest Rate 1%/22.250%
Step Payments? NO
Change Frequency
Seasonal Payments? NO
First Change Beginning of 2nd month
Monthly Principal and Interest Payments
Subsequent Changes Every 1st month after first change
First Change/Amount $2,445 - $13,714 at 13th payment
Limits on Interest Rate Changes
Subsequent Changes Every 1st payment
First Change 18%
Maximum Payment $13,714 starting at 13th payment
Subsequent Changes 18%
CLOSING DISCLOSURE GTRIDCDWS_S 1215 Page 4 of 5 LOAN ID # 912979
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Loan Calculations Other Disclosures
Total of Payments. Total you will have paid after Appraisal
you make all payments of principal, interest, $1,321,997.22 If the property was appraised for your loan, your lender is required to
mortgage insurance, and loan costs, as scheduled. give you a copy at no additional cost at least 3 days before closing. If
you have not yet received it, please contact your lender at the
information listed below.
Finance Charge. The dollar amount the loan will $581,781.72
cost you. Contract Details
See your note and security instrument for information about
Amount Financed. The loan amount available after $735,382.50 what happens if you fail to make your payments,
paying your upfront finance charge. what is a default on the loan,
situations in which your lender can require early repayment of
Annual Percentage Rate (APR). Your costs over loan, and
the loan term expressed as a rate. This is not your 4.284 % the rules for making payments before they are due.
interest rate. Liability after Foreclosure
If your lender forecloses on this property and the foreclosure does not
Total Interest Percentage (TIP). The total amount cover the amount of unpaid balance on this loan,
of interest that you will pay over the loan term as a 78.381 % x state law may protect you from liability for the unpaid balance. If
percentage of your loan amount. you refinance or take on any additional debt on this property, you
may lose this protection and have to pay any debt remaining even
after foreclosure. You may want to consult a lawyer for more
information.
state law does not protect you from liability for the unpaid balance.

?
Refinance
Questions? If you have questions about the Refinancing this loan will depend on your future financial situation,
loan terms or costs on this form, use the contact the property value, and market conditions. You may not be able to
information below. To get more information refinance this loan.
or make a complaint, contact the Consumer
Financial Protection Bureau at Tax Deductions
www.consumerfinance.gov/mortgage-closing If you borrow more than this property is worth, the interest on the
loan amount above this propertys fair market value is not deductible
from your federal income taxes. You should consult a tax advisor for
more information.
Contact Information
Lender Mortgage Broker Real Estate Broker Real Estate Broker Settlement Agent
(B) (S)
Name Farm Credit Services Green Roby Oviatt
of America LLP
Address PO Box 1117 816 South Broadway
Watertown, SD 57201 Watertown, SD 57201
NMLS ID 579135
SD License ID
Contact Nick Hartness Bev Beutler
Contact NMLS ID 1288413
Contact SD License ID
Email Nick.Hartness@ bev@grolawfirm.com
fcsamerica.com
Phone 605-882-4030 605-886-5812

Confirm Receipt
By signing, you are only confirming that you have received this form. You do not have to accept this loan because you have signed or received
this form.

Applicant Signature Date Co-Applicant Signature Date

CLOSING DISCLOSURE GTRIDCDWS_S 1215 Page 5 of 5 LOAN ID # 912979


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Addendum to Closing Disclosure This form is a continued statement of final loan terms and closing costs.

Property SE 1/4 NE 1/4 except Lot H-1 and highway r-o-w in 33-118-51
Watertown, SD 57201

Seller Carol Dagel aka Carol K. Dagel

CLOSING DISCLOSURE GTRIDCDWS_S 1215 LOAN ID # 912979


06/07/2017
02:08 PM PST GTRIDCDWSS (POD)