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SAUL T. BACON INVESTIGATION An informant has provided the following information to your agency: By all indications, Saul T. Bacon appears to have stolen $30,000 from his company, for which he worked as Comptroller. Bacon may have used the stolen money for a $12,500 down payment on a downtown Dallas loft condo, and a motorcycle. Saul and his wife, Chris P. Bacon currently live in Richardson, Texas... we think. Your supervisor asks you to handle the investigation. You plan to do the following: 1. Check the suspect out to see what you can find out. 2. See what public records can tell you about the suspect. 3. Report back to your supervisor with the findings. Part 1 - Saul T. Bacon Interview Bacon tells you that your source of information, whoever it is, is all wrong. He admits that he just bought a Ski Master super powerboat and a lake cottage and provides the purchase invoice for a motorcycle (cost = $29,500) and closing statement for a condominium (down payment = $12,500). Bacon then tells you the $42,000 came from the sale of his old house, and he doesn't like investigators, so either arrest him or "pound sand." You leave with copies of the documents, notes of what he said, and a suspicion that he may not be telling the truth. 1. What information needs to be verified from the interview? 2. Why do you want to know this information? Page 1 of 11 Rev. January 2017 Part 2 - Search of Public Records and Evaluate Findings You are ready to search the records at the Dallas County Register of Deeds to see if Bacon told the truth. You explain what you want to do to one of the clerks at the county Register of Deeds office. The clerk shows you how to search the records, and tells you that on January 1, 2005, the Real Estate Transfer Fee rate increased from $1.00 per thousand to $3.00 per thousand. On the following pages are the copies of the documents that you located during your search. In Excel format, complete the following: Step 1: Note: Determine Net Proceeds (Gain) from Sale of Old Residence You know that a 30year mortgage, such as this, calls for mostly interest payments in the early years, and mostly principal in the later years. Your best estimate is that during the first 10 years of the 30, Bacon probably paid about onefourth of the principal. Step 2: Determine TOTAL Cost of the New Residence Step 3: Determine Cash Invested (or amount of cash needed for investment) in New Residence Step 4: Determine Amount of Cash in Excess of Known Expenditures Step 5: Summarize Findings (brief Conclusion/Synopsis) Page 2 of 11 Rev. January 2017 WARRANTY DEED DOCUMENT NO. 1528537 This Deed, made between Harvard Builders, Inc., a Texas Corporation, Grantor and Saul T. Bacon and Chris P. Bacon , husband and wife, as joint tenants. , Grantee, Witnesseth, That the said Grantor, for a valuable consideration conveys to Grantee the following described real estate in Dallas County, State of Texas: REGISTER'S OFFICE) Dallas COUNTY, TX,) SS RECORDED AT Richardson, TX. ) July 19, 2003 DOCUMENT NO 1528537 RETURN TO: TAX PARCEL NO: 0 Lot 2, West Martin Hills, city of Richardson, Dallas County, Texas; subject to all Restrictions, Easements and zoning ordinances of record. Grantees acknowledge that the land to the southeast of the extension of Polk Road south and Perry Road east, is zoned R-3 or R-4 for future planned unit development; and, that the land south of Radford Road, north of Pioneer Road, and east and west of McKenry Boulevard extended to Radford Road is zoned C-1, R-3 or R-4 for commercial use, duplexes or apartments, and that Grantees or their successors will not object to such use. TRANSFER $44.00 FEE This is homestead property. (is) (is not) Together with all and singular the hereditaments and appurtenances thereunto belonging: And warrants that the title is good, indefeasible in fee simple and free and clear of encumbrances except and will warrant and defend the same. Dated this 18th day of July , 2003 . David Wm. Crowder (SEAL) Iris J. Rockland (SEAL) David Wm. Crowder, President Iris J. Rockland, Secretary (SEAL) (SEAL) AUTHENTICATION ACKNOWLEDGEMENT STATE OF TEXAS Signature(s) Stan Brown authenticated this 18th day of July , 2003 Atty. Stan Brown TITLE: MEMBER STATE BAR OF TEXAS (If not, ) 0 ) ) SS Dallas County, ) Personally came before me this 18th day of July , 2003 the above named David Wm. Crowder, President, and Iris J. Rockland, Secretary of the above named corporation. 0 Page 3 of 11 Rev. January 2017 DOCUMENT NO. 1528538 REGISTER'S OFFICE DALLAS COUNTY, TX. SS RECORDED ON DMORTGAGE July 19 2003; 1:53 PM Vol 10882 PAGE 26 (Space Above This Line For Recording Date) MORTGAGE THIS MORTGAGE ("Security Instrument") is given on July 18 2003 . The mortgagor is Saul T. Bacon and Chris P. Bacon , his wife and in her own right ("Borrower"). This Security Instrument is given to Department of Veterans Affairs which is organized and existing under the laws of Texas and whose address is 77 North Bremer Street, Richardson, Texas 75040 ("Lender"). Borrower owes Lender the principal sum of Forty one thousand one hundred Dollars (U.S. $ 41,100 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note") which provides for monthly payments, with the full debt, if not paid earlier, due and payable August 1, 2033 . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage grant and convey to Lender, with power of Sale, the following described property located in Dallas County, Texas: Lot 2, West Martin Hills, city of Richardson, Dallas County, Texas which has the address of 2300 Warren Road Richardson Texas 75043 ("Property Address"); (Zip Code) TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Page 4 of 11 Rev. January 2017 FINANCIAL INVESTIGATIONS 45 Lesson 3: Sources of Information WARRANTY DEED DOCUMENT NO. 2057172 This Jackson a Grantor Saul Husband Grantee, Custom T. Deed, Bacon Witnesseth, REGISTER'S OFFICE Dallas COUNTY, TX, Homes Texas and and and made between Construction, Inc. Corporation and Chris P. Bacon Wife That the said Grantor, for a valuable consideration conveys to Grantee the following described real estate in Dallas County, State of Texas: ) SS RECORDED AT ) DEC 3 2013 DOCUMENT NO. 2057172 RETURN TO: TAX PARCEL NO: 0 Lot Ten, (10) Park Ridge Heights, in the city of Richardson, Dallas County, Texas TRANSFER $ 92.70 FEE This i s not homestead property. (is) (is not) Together with all and singular the hereditaments and appurtenances thereunto belonging: And warrants that the title is good, indefeasible in fee simple and free and clear of encumbrances except and will warrant and defend the same. Dated this 1st day of December , 2013. (SEAL) Jackson Custom Homes and Construction, Inc. (SEAL) Mary Lou Kay (SEAL) Thomas W. Weber, President (SEAL) Thomas W. Weber AUTHENTICATION ACKNOWLEDGEMENT STATE OF TEXAS Signature(s) Phil Blaine authenticated this 1st day of December , 2013 Attorney Phil Blaine TITLE: MEMBER STATE BAR OF TEXAS (If not, ) 0 Page 6 of 11 ) ) SS Dallas County, ) Personally came before me this 1st day of December 2013 the above named Thomas W. Weber and Mary Lou Kay 0 Rev. January 2017 DOCUMENT NO. 2057173 REGISTER'S OFFICE DALLAS COUNTY, TX. SS RECORDED ON DMORTGAGE Dec 3, 2013; 1:53 PM Vol 10882 PAGE 26 (Space Above This Line For Recording Date) MORTGAGE THIS MORTGAGE ("Security Instrument") is given on December 1 20 13 . The mortgagor is Saul T. Bacon and Chris P. Bacon ("Borrower"). This Security Instrument is given to First Federal Savings and Loan Association which is organized and existing under the laws of United States of America and whose address is 202 Major Street Richardson, TX 75040 ("Lender"). Borrower owes Lender the principal sum of One Hundred Twenty Two Thousand and no/100 Dollars (U.S. $ 122,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note") which provides for monthly payments, with the full debt, if not paid earlier, due and payable according to its terms . This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage grant and convey to Lender, with power of Sale, the following described property located in Dallas County, Texas: * Husband and wife and each individually Parcel A: Lot ten (10), Park Ridge Heights, in the city of Richardson. Parcel B: Lot two (2), West Martin Hills, in the city of Richardson. which has the address of ( Lot 2) 2300 Warren Road and 2000 Jay's Place Richardson (Street)(City) Texas 75043 ("Property Address"); (Zip Code) TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, rights, appurtenances, rents, royalties, mineral, oil and gas rights and profits, water rights and stock and all fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and nonuniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. Page 7 of 11 Rev. January 2017 Proposal Document No. 2057174 Page No. ___1____ of____1____Pages REGISTER'S OFFICE BARTON, INC. Dallas COUNTY, TX, 30 S. Martin St. Richardson, TX 75095 RECORDED AT PROPOSAL SUBMITTED TO: Name: Phone: 834-4211 RETURN TO: Saul and Chris Bacon Feb 28, 2014 Date: 8/20/07 DOC. NO. 2068393 Job Name: Street: 2300 Warren Road Street: Jay's Place LOT #10 Park Ridge Heights TAX PARCEL NO: City: Richardson City: Richardson 0 State: TX State: Architect: Jim Vernon Date of Plans: 8/3/13 TX We hereby submit specifications and cost for building construction as follows: SPECIFICATIONS INCLUDED THIS CONTRACT IS CONTINGENT ON SALE OF 2300 WARREN RESIDENCE Office of Register of Deeds Dallas County, Texas Received for recording July 19, 2003 at 1:53 o'clock p.m. and recorded in Vol. 10882 of records on page 26 Harold K. Hill, Register We hereby propose to furnish labor and materials complete in accordance with the above specifications for the sum of: One Hundred Fifty Thousand---------------- dollars ($150.000.00------------) with payment to be made as follows: 1/3 on acceptance, 1/3 on completion of dry wall, 1/3 on completion All material is guaranteed to be as specified. All work to be completed in a workmanlike manner according to standard practices. Any alteration or deviation from above specifications involving extra costs, will be executed only upon written orders, and will become an extra charge over and above the estimate. All agreements contingent upon strikes, accidents or delays beyond our control. Owner to carry fire, tornado and other necessary insurance. Our workers are fully covered by Workman's Compensation Insurance. Authorized Signature J.P. Vernon Note: This propoChris may be withdrawn by us if not accepted within 60 days. Acceptance of Proposal The above prices, specifications and conditions are satisfactory and are hereby accepted. You are authorized to do the work as specified. Payment will be made as outlined above. Accepted: Date: 0 Signature 12/1/2013 Saul T. Bacon Signature Chris P. Bacon WARRANTY DEED Page 8 of 11 Rev. January 2017 ) Student Workbook DOCUMENT NO. 2068393 This Deed, made between Saul T. Bacon and Chris P. Bacon , husband and wife, Grantor and James P. Keene and Jenny Lee Keene, husband and wife, as survivorship marital property , Grantee, Witnesseth, That the said Grantor, for a conveys to Grantee the following described real estate in County, State of Texas: valuable consideration Lot Two (2), West Martin Hills, in the city of Richardson, Dallas County, Texas. TRANSFER $219.00 FEE This is homestead property. (is) (is not) Together with all and singular the hereditaments and appurtenances thereunto belonging: And warrants that the title is good, indefeasible in fee simple and free and clear of encumbrances except and will warrant and defend the same. Dated this 26th day of February , 2014 . Saul T. Bacon (SEAL) Chris P. Bacon (SEAL) Saul T. Bacon Chris P. Bacon (SEAL) (SEAL) ACKNOWLEDGEMENT STATE OF TEXAS ) ) SS County, ) Personally came before me this day of , 20 the above named 0 STATE OF TEXAS DEPARTMENT OF VETERANS AFFAIRS P.O. BOX 7843 RICHARDSON, TEXAS 75097 0 SATISFACTION OF MORTGAGE 2071138 VOL 11200 PAGE 88 RETURN TO Saul and Chris Bacon 2000 Jay's Place Richardson, TX 75098 0 2071138 0 SATISFACTION OF MORTGAGE J00128275 114890 I hereby certify, that the mortgage executed by , his/her spouse and in his/her own right T3J215:2 Saul T. Bacon and Chris P. Bacon to State of Texas, Department of Veterans Affairs, Richardson, Dallas County, Texas, dated the 18th day of July , 2003 , and recorded in the office of the Register of Deeds of Dallas County, State of Texas, on this 19th day of July , 2003 , at 1:53 o'clock P.M., in Volume 10882 of Records on Page 26 , Document No. 1528538 , is fully paid and satisfied. In Witness Whereof, I have hereunto set my hand and seal this 7th day of March , 2014 . Witness State of Texas Department of Veterans Affairs Dorothy Owen Dorothy Owen by John J. Morris John J. Morris, Secretary (Seal) Dennis Smith Dennis Smith State of Texas ) ) SS Dallas County ) Personally came before me, this 7th day of March , 2014 ., the above named John J. Morris , Secretary of the State of Texas, Department of Veterans Affairs to me known to be the person who executed the Signature(s) Harold Langston foregoing instrument and acknowledged the same, authenticated this 26th day of February , 2014 as such officer, as the deed of such State , Harold Langston, Attorney Department, by its authority. AUTHENTICATION TITLE: MEMBER STATE BAR OF TEXAS (If not, ) 0 "This instrument was drafted by the State of Texas, Department of Veterans Affairs Form DVA No. 311a Dennis Smith Dennis Smith Notary Public Dallas County, TX My commission expires June 24, 2020