Genesis Conference

Property Sale Application

This application is required for the sale of any property that the church owns. All questions on this application should be completed and signed by the Chairperson of the Board of Trustees of the Local Church, the Treasurer, the Pastor of the Local Church, and the Conference Superintendent. The completed application, with any attachments should be sent to:

Randy Freeman

Genesis Conference Administrator

8160 Bank Street Road

Batavia, New York 14020-9705

Date of Application:______

  1. Legal name of Society:______

2. Address______

Phone:______Fax:______

  1. Property Being Sold:______
  1. Physical Address:
  1. Purpose of the sale: Please enclose with this application a brief narrative that describes the purpose for selling this property, what is intended for the proceeds, and reason for agreed sales price if different from Appraised Value.
  1. Appraised Value of Property: ______

Property Sales Agreement Price: ______

  1. The local Society (or society designated church governing body) must approve both the sale and Property Sales Agreement (PSA). Please attach a copy of the appraisal, PSA, minutes of the meeting where the sale and the PSA were approved, or have secretary write a letter verifying the approvals. Please also provide these statistics.
  1. Date of approval:______
  2. Total members eligible to vote:______
  3. Number at meeting where approval was granted:______
  4. Number voting FOR the sale ______, PSA ______
  5. Number voting AGAINST the sale ______, PSA ______
  1. Does the deed of the church property for which the loan is requested contain the “Trust Clause” required by the Free Methodist Book of Discipline (A/856)? Yes___ No___
  2. The Conference by-laws require that the local church must be current in all Conference Obligations such as Wave Fair Share. Is the local church currently up to date?

Yes____No____

If no, then explain:______

  1. List all properties currently owned by your Society:

Property / Value / Balance Owed / Date of Maturity
  1. List your present insurance coverages:

Type of Insurance / Insurance Company / Amount of Coverage

Attach and include a copy of the Declaration Page from your current policies. Actual coverages will be compared with Conference Recommended minimums to assure adequate coverage.

  1. List any other financial obligations you have:

Obligation / Lender / Amount / Balance Due / Maturity Date

12. What is the total indebtedness of the Society (Sum line 9 and 11)?$______

  1. Please attach to your application:
  1. A copy of your financial reports for the past two completed years and the current year-to-date.
  2. A listing of all bank balances and investments showing amounts, and with whom.
  3. Average worship attendance for the past two years and the current year-to-date to show growth trend.
  4. Signed (by both parties) Property Sales Agreement
  5. Name of attorney who drafted the PSA.
  6. Schedule of all contingencies related to the PSA. The PSA must include seller contingencies for church society authorization, Genesis Conference BOA authorization, FMCUSA authorization, and New York State authorization.

Authorizations:


Chairperson, Local Board of TrusteesDate


TreasurerDate


Local PastorDate

SuperintendentDate

We hereby certify that the information contained herein is complete and accurate. This information has been furnished with the understanding that it is to be used to determine the suitability of the project and to determine the amount and conditions of the credit to be extended (if applicable). Furthermore, we hereby authorize the financial institutions listed in the application to release necessary information to the Genesis Conference Foundation for which credit is being applied for in order to verify the information contained herein.

Upon receipt of the completed application along with all required attachments, it will be reviewed by the Conference Administrator and Finance Committee. Clarifying questions and additional information may be requested. Once the application is deemed complete, it will be distributed to the Board of Administration. The Conference Administrator will contact the Pastor to schedule a meeting with the Board of Administration.