# Willowbend Capital Closing Statement The ALTA Settlement Statement for the 2025-06-24 conveyance of 383.52 acres of [[Little Rock Port Authority]] land to [[Willowbend Capital, LLC]] — both the Buyer/Borrower-side and the Seller-side statements, on First National Title Company file 101-251188-ML. ## What's inside - 4-page ALTA Settlement Statement. Pages 1–2: Borrower/Buyer statement. Pages 3–4: Seller statement. - File No.: 101-251188-ML. Print date: June 20, 2025; Seller-side print date: June 19, 2025. Officer/Escrow Officer: Melanie Logan. - Settlement location: First National Title Company, 415 N. McKinley Street, Suite 1200, Little Rock, AR 72205. ALTA Universal ID 1010363. - Settlement Date: June 24, 2025. Disbursement Date: June 24, 2025. ## Key takeaways - **Parties.** Buyer/Borrower: *"Willowbend Capital LLC, a Delaware limited liability company."* Seller: *"The City of Little Rock, Arkansas, for the use and benefit of Little Rock Port Authority."* - **Property identification.** Property Address: *"Acreage tracts off Harper Road, Boar Project, Little Rock, AR 72206"* — the first time the project's internal codename "Boar Project" appears in a Tier-1 instrument in this corpus (the corpus had previously known the codename as "Project Boar" only from Tier-3 reporting). - **Sale price: $11,505,600.00** (recorded on the Buyer-side at Sale Price of Property; matches the DFA Affidavit on the deed). - **Buyer-side closing items.** Special Assessments proration of $746.87 (06/24/25 – 01/01/26); ALTA Endorsements 17-06 (Access and Entry, $250), 25-06 (Same as Survey, $250), 3-06 (Zoning, $3,547.49), 8.2-06 (Commercial Environmental Protection Lien, $2,364.99), 9.1-06 (Covenants, Conditions and Restrictions — Unimproved Land, $2,364.99); Closing Fee $750.00 to First National Title; Closing Protection Letter $25.00 to Chicago Title Insurance Company; Recording Fees, Efile & Processing Fee to Pulaski County Circuit Clerk; **Revenue Stamps — WAIVED** (transfer to/from political subdivision); Legal Services — Willowbend — POC to Kutak Rock LLP; Survey — POC to [[Pickering Firm]] (POC = paid outside closing). - **Buyer signatory.** *"Buyer: Willowbend Capital LLC … BY: Stuart Hindmarsh, Authorized Signatory."* This identifies [[Stuart C Hindmarsh]] — the same Kutak Rock LLP attorney whose name appears on the Project Pyramid property record card as GROOT LLC's contact of record — as the named signing party for Willowbend Capital at the closing. [[Michael Montfort]] (Willowbend's organizer-of-record per the Arkansas Secretary of State) does not sign at closing. - **Seller-side closing items.** Special Assessments proration $746.87; County Taxes proration $2,495.46 (01/01/25 – 06/24/25); Closing Fee $750 to First National Title Company; **Owner's Title Insurance: $11,825.40** to First National Title Company (Coverage: $11,505,600.00; ALTA Owners Policy 2021); Title Search & Exam $750 to First National Title Company; **Commission — Listing Broker: $230,112.00 to Kelley Commercial Partners**; **Revenue Stamps — WAIVED**; **Legal Services — CLR: $52,560.00 to Gill Ragon Owen, P.A.** (matter no. 4929.9004). - **Net proceeds to Seller.** Due to Seller: **$11,207,829.01** (after listing commission, City legal fees, title insurance, search, escrow, and proration items). - **Seller signatory.** *"Seller: The City of Little Rock, Arkansas, for the use and benefit of Little Rock Port Authority … BY: Frank Scott, Jr."* ## People and orgs mentioned - [[Willowbend Capital, LLC]] — buyer/borrower. - [[City of Little Rock]] — seller (on behalf of the Port Authority). - [[Little Rock Port Authority]] — beneficial seller. - [[Stuart C Hindmarsh]] — signed as Authorized Signatory for Willowbend Capital LLC. - [[Frank Scott Jr]] — signed as Mayor for the seller. - Melanie Logan — Escrow Officer, First National Title Company. - First National Title Company — title and escrow agent. - [[Kutak Rock LLP]] — Willowbend's transactional counsel (legal services POC). - Gill Ragon Owen, P.A. — City of Little Rock's counsel ($52,560.00). - Kelley Commercial Partners — listing broker ($230,112.00 commission). - [[Pickering Firm]] — surveyor (POC). - Chicago Title Insurance Company — closing protection letter ($25.00); ALTA commitment underwriter. ## Concepts invoked - ALTA Settlement Statement — American Land Title Association's standard buyer-side and seller-side settlement statements (Adopted 05-01-2015). - Real Estate Transfer Tax exemption (Revenue Stamps WAIVED) — same political-subdivision exemption as on the deed. - POC ("paid outside closing") — for Willowbend's legal fees to Kutak Rock and the survey fee to Pickering, the closing statement only flags them as POC; the amounts are not on this statement. ## Events documented - The 2025-06-24 closing and disbursement; the 2025-06-19 (Seller-side) and 2025-06-20 (Buyer-side) statement print dates. ## Cross-references - [[Willowbend Capital Warranty Deed]] — the recorded instrument the statement settles to. - [[Port Authority Land-Sale Resolution]] — the Port Board's prior authorization. - [[The Port of Little Rock Data Center]] — the project-level synthesis. ## Open questions / follow-ups - **Willowbend's legal-fee total.** "Legal Services — Willowbend — POC to Kutak Rock LLP" appears with no amount on the closing statement; the actual Kutak Rock invoice is outside this production. - **Survey cost.** Likewise paid outside closing; the [[Pickering Firm]] invoice amount is outside this production. - **The MOU's "City Enrichment Investment."** The 2025-04-29 MOU contemplated a $300,000/year payment from Willowbend Capital to the City. This payment regime is structurally independent of the land-sale proceeds and would not appear on this closing statement; whether the first installment has been paid is a separate inquiry.