HomeMy WebLinkAbout78-97 RESOLUTIONJ
RESOLUTION NO. 7 B-97 SCANNED
A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE
AGREEMENT WITH ALAN AND LAWRENCE CLACK, IN THE
AMOUNT OF $6I,000, FOR THE PURCHASE OF 0.95 ACRES
OF UNIMPROVED LAND LOCATED ON THE NORTH SIDE OF
2OTH STREET, WEST OF SCHOOL AVENUE, IN
ASSOCIATION WITH THE IMPROVEMENTS OF 2OTH
STREET.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTE\TILLE,
ARKAITTSAS:
Section 1. The City Council hereby accepts the Offer and Acceptance Agreement with
Alan and Lawrence Clack, in the amount of $61,000, for the purchase of 0.95 acres of unimproved
land located on the north side of 20th Street, west of School Avenue, in association with the
improvements of 20th street; and authorizes the Mayor and City Clerk to execute said agreement.
A copy of the agreement is attached hereto marked Exhibit rrA" and made a part hereof.
...-"--,P-ASSpp AI\ID APPROVED this lath day of August, 1997.
t' ,..\\t ,. ,s.APPROVED
(
,\
Mayor
ATTES
By
Traci Paul, City Clerk
a
f
+
1
,FFER AND ACCEPTANCE C.NTRA.FXHIBIT A
The City of Fayetteville, Arkansas, a rnunicipal corporarion, hereinafter referredto as tlie tlrryer, offers to buy, subject to the tenTrs arrd conditions set forttrherein, the ft>llowing described property:
SEE ATTACHED EXHIBIT t'A'I
FOR PROPERTY DESCRIPTION
Purchase Price: Subiect to the following conditions, the Buyer shall pay for theproperty at closing, rhe total and cash payment of $61.ooo.oo .
contingent Earnest Money Deposit: The Buyer herewith tenders a check for$1'ooo'00 to Alan R- Clack and Lawrence Clack, hereinafter referred to asthe Seller, as earnest money, which shall apply on the purchase price. This offerof purchase is continger)t Llpon approval of the City Council Of the City ofFayetteville, Arkarrsas, and, if rhey oo not so approve, the earnest money depositwill be returned to the Buyer by the Seller. lf title requirements are not fulfilleclor the Seller fails to fulfill any obligations under this contract, the earnest moneyshall tle promptly refunded to the Bry"r. lf the Buyer fails to fulfill his obligationsunder this contract or after all conclitions lrave been met, the Buyer fails to closethis transaction, the earnest money nray, at the option of the Seller, becomeliquidateti danrages to the Seller. Alternatively, the Seller may assert legal orequitaitrle rights which it ntay have because of breach of tlris contracr.
Conveyance will be made to the Buyer by general warranty Deecl, except it shallbe subiect to recorded irtstruments anrJ easenrents, if any, wrriclr do not rnaterialtyaffect the value of the property. such .onr"yunce shall include mineral rightsowned by the Seller.
The Seller shall furnish, at the Buyer's cost, a policy of title irisurance in theamount of the purchase price from a title insurance company as selected by theBuyer.
seller agrees to allow Buyer, if Buyer so desires, to survey the property. Sellerand Buyer shall equally share in the expense of said survey. seller agrees to cureany title problents which nray result from any differences between the recordedlegal descriptions of the property and the survey description. Said title problerns,if any, must be solved prior to closing to the satisfaction of the Buyer.
I:f: "?9^:l*iar assessments due on or before crosing shail be paid by theueller' lllsurance, general taxes, ad valorem taxes, special assessments andrental payments shall be prorated as of closing.
The closing date is designated to be Sixty (6Q) days after acceptance of this offerby the Seller' lf such date of closing falls on i weekend or holiday, ir will be heldthe following working day.
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5
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CFFER AND
Page 2 of 5
ACCEPTANCE CONTRACT
Possession of the property shall be delivered to the Buyer on the date of closing.
Seller hereby grants permission for the Buyer or its employees or designates toenter the atrtlve described propeny and improvements for the purpose of inspec-tion and/or surveying.
All fixtures, ilnprovements and attached equipment are included in the purchaseprice.
Risk of loss or damage to the property by fire or other casualty occurring up tothe time of closirrg is assurnect by the Seller.
Seller shall disclose to Buyer any and all environmental hazards of wlrich Sellerlras actual knowledge. Upon acceptance of all conditions and terms of this Offerand Acceptance, Buyer and Seller shall share equally the costs of any and alltesting for the existence of environmental hazards. Should the existence ofenvironmental hazards be krrown or determined, Seller shall cure such, at Seller'sexpense, or in the alternative, at Buyer's discretion, Buyer may cure suchenvironmental hazard, and Seller shall indemnify Buyer for all costs associatedwith said cure.
This agreement shall be governed by the laws of the state of Arkansas.
This agreement, when executed by both the Buyer and the Seller shall contain theentire understanding ancl agreement of the parties with respecr to the mattersreferred to herein and shall supersede atl price or contemporaneous agreements,representations and understanding with respect to such matters, and no oralrepresentations or statements shall be considered a part hereof.
This contract expires, if not accepted on or before the 1 Sth day of Augusr, 1gg7.
17. NOTICE:BUYER ASSERTS AND SELLER HEREBY ACKNOWLEDGESTHAT THIS OFFER IS EXPRESSLY CONTTNGENT UPON THE
APPROVAL OF THIS OFFER OF PURCHASE BY THE CITY
COUNCIL OF FAYETTEVILLE AND THAT THE FAILURE OFTHE COUNCTL TO SO APPROVE WILL MAKE ALL
PORTIONS OF THIS OFFER NULL AND VOID, INCLUDING,BUT NOT LIMITED TO, THE RETURN TO BUYER OF THE
$ 1 .OOO.OO EARNEST MONEY DEPOSIT.
I
10.
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12.
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OFFER A I{D ACCEPTANCE CONTRACT
Page 3 of 5
S ELLER:
IVt (Ltr..- t].-r,\^ (,..'f (..\,r, , \
Alan R. Clack
ac l-(2-C
L awrence CIack
I
Date:t A..,,, rt t.-\{1
Ar"/zz'L
I
Date:
DaEe:
,/r;-',, \ //
Date:
Date ?,. tl-. <:l-T
ct,/t
E. Risk,
BUYER:
City of Fayetteville, Arkansas,
a mLlnicipal corporation
L
'/rr( h,/i.n,-
Fred Hanna, Mayor
k/t",(t 7' n )
I /
Traci Paul, City Clerk
(SEAL}
t
l.
OFFER AND ACCEPTANCE CONTRACT
Page 4 of 5
EXHIBIT 'A'
PROPERTY DESCRIPTION
Part of the Southwesr Ouarter (SW%) of the Sooutheast Ouarter (SE%) of
Section 21, Township 16 Nortn, Range 30 West of the Sth Principal Meridian, and
more particularly described as commencing at the Northwest corner of said 4O
acre tract, and running thence East 565 feet, more or less, to the West riglrt of
way line of Highway No. 71-B , thence in a southwesterly direction with said West
right of way line 618.5 feet for a Point of Beginning; thence South 105 feet;
thence West 395 feet; thence North 105 feet; thence East 395 feet to the point
of Beginning, being a strip 105 feet North and South by 395 feet East and West,
lying due South of the Gover and Bean tract and being the same width East and
West, less land taken up by the new Highway. (The total land less highway right
of rvay cont.ains 4C,631 ft2 or 0.933 acre, more or less.)
SIGNED FOR IDENTIFICATION:
SELLER:
Af t tu. \,
i,c'(( !'<-c ?-((r,
BUYER
OFFER AND ACCEPTANCE CONTRACT
Page 5 of 5
ACKNOWLEDGMENT
STATE OF ARKANSAS
SS.
COUNTY O F WASHINGTON
BE lT REMEMBERED, that on this date, before rhe undersigned, a duly commissioned and actingNotarv Pr-rblic within and for said County and State. personally appeared Alan R. Clack and L-awrence
Clack. to me well known as the persons who executed the foregoing document, and who stated andacknowledged tlrat thev had so signed, executed and delivered said instrument for the consideration, uses
and purposes therein mentioned and set fonh.
wlrNESS rny hand and sear on this + il day of /,>/
L
(/
1997
Notary PublicOFFICIAL SEALMY CDMM ISSIOUhffiOE}B5S:
I rrorARY PUtsLtC .ARKANBASi .,,^:^il'L":ilHl.*
ACKNOWLEDGMENT
STAI-E OF ARKANSAS
SS
COUNTY OF WASI-IINGTON
BE lT REMEMBERED, that on this date, before the undersigned, a duly commissioned and actingNotary Public within and for said County and State, personally appeared Fred Hanna and Traci paul, to
me well krlown as the persons who executed the foregoing document, and who stated and acknowledgedthat they are the Mayor and City Cterk of the City otlayetteville, Arkansas, a municipal corporation,
and are duly authorized in their respective capacities to execute the foregoing instrument for and in thename and behalf of said municipal corporation, and further stated and acknowledged that they had so
signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned
and set fofth.
WITNESS my hand and seal on this +ft day of 1 997
MY COMMISSION EXPIRES
DC-,o,/-2ao
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20th Street
Alan and l,awrence Clack Properry
Total Area _ 0.9 52 Acre
Net Area-0.933 Acre
Parcel No 7 65- I 5027-000
Title: PROPOSED CITY PURCHASE OF CLACK PROPERTY Date'. 07 -26- I 997
Scale: I inch : 60 ft,et File: CLACK-P WI\,IF
t'l'ractl: 0.952Acres:41475SqFcec 38i3.2SqMeters: Nosigniiicantclostucerror.:Perirncter=1000t'cct
-'[ract 2: 0.019 Acns: 8:14 Sq Fceu 78.4 Sq Metcrs: No siggificsnt closurc crror. : Pcrimeter = 2?7 fcet
Net Arr.u= 0.933 Acres: 40631 Sq Fecu 3774.8 Sq Meters
001=/387.25228 631.93 005=N02.34528 105 009=s87.2s088 16.07
002=/Sl l.l700w 632.23 006=387.25088 395 0t0=..N02.3{5zE I05
003=S02.3.t52W 105 OOZ=(@3 -
004=N87.250t1W 395 (D8=Sl t.l700w 106.23
washington county Real. Estate Assessment Record
Parcel Number 5-1 s 027 -000 Properry Type NllLocation Ad dress ! O I
Owner CLACK, ALAN R.; CLACK LAWRENCE
Mailing
Address
591 MT COMFORT ROAD
Lot BIock
ue n
Land value
lmp. value
Total value
Current year
0
0
5 000
Assessed
1 -1 6-30
Legal Description
S ecti o n-Townsh i p-Ran g e
Addition
Legal SW SE 1A
Deed @ 206-8 15 ta 0.00
Sctrool District AYETTEVILLE SCHO ol-s City descriotion Iry OF FAYETTEVILLE
AYETTEVILLE 27 03
1 ,000
0
1 ,000
1 1 6 -30 F AYETTEVILLE o U TLOTS
0
Agency Representation
Disclosure For Buyer
Page 1 of 1 mA-ffi;
INFORMATION ABOUT REAL ESTATE AGENTS
AND WHOM THEY REPBESENT IN A REAL ESTATETHANSACTION
The real estate broker or salesperson wilh whom you are working is called a real estate agent. The reason for furnishing
this information is that Arkansas law requires every real eslate agent to tell you whom they represent in a real estate
transaclion.
SELLER HEPRESENTATION
A real estate agent who enlers into an agreement to sell property for an owner is known as the 'Listing Agent'or 'Agenl for
the Seller.' Other real estale agents with other companies who work through the Agent for the Seller also represent lhe
seller. The Agent for the Seller can assist the buyer in a real eslate transaction without representing the buyer. Most real
estale transactions are arranged this way; that is, the Agent for the Seller while representing lhe seller also aranges for lhe
buyer to purchase lhe property.
BUYER REPRESENTATION
A real estale agenl and a buyer can enter into an agreement for he agenl lo represenl only ttre buyer when property is
purchased. When thal happens lhe agent is known as a Buyer's Agent. The Buyer's Agent whila represenling the buyer can
assist the seller in the real estale transaction.
BOTH SELLER AND BUYER REPRESENTATION
A real estale agenl can enter into an agreement to sell property for an owr:er (usually called a 'listing' agreement) and can
enter inlo an agreemenl lo represent lhe buyer in the same transaclion. A real estate agenl must have he writlen consent of
both seller and buyer to represent both. Seller and buyer acknowledge trat when a real estale agent represents bolh, a
conllic't of interest exists.
AG ENCY R EPR ESENTATION DISCLOSURE
fieal Estate AgenUCompany represenls the (choose one):p A. S.tbr. of real property which Buyer may consider to purchase.
E B. Buyer.
Buyer E doEs El does not consent and give permission to he Real Estate AgenUOompany lo also
represent sellers in a real estate lransaclion involving Buyer.
Real Estate Agent ,4lrz.r./<frA f-{-fl I tamxprn)
i.bn Dab
Real Estate Company
ISA
NOT
Narne_ of Person Receiving Disdosure Shnatle
4 czf 'frrrzz'"/L, 'k-r - fuo"-*,s. -5',€'*=-1 /ZZZZ
I have rocsivd, tead and understand he information in tris'Agerry Representation Disdcure'
+4ty'-?y'tf
copy of his
/1 ft,€u u 4rs/c
Narne ol Broker q Sales Agent
#-tan)om)
-\-(*)o.n)Date
Date
2.
Q-, - 17
Name ol Person Beceiving Disdosure
Address Clty, Shlo Zp
I certity hat I hare pwided tn pcpecWc purdlaoor nsrn€d Sore
Tel€pttono Nun$er
Reptrcn tatbn C)ied6uro'
Owner Property
Disclosure m I
I
Pego I ol3 Folm Sedd h._
Copynglt
97
REALTOR'Arkansaa
APPBOXIMATE DATE OF @t{STRt CTION: NA-
Purpose Ol Statement: Ihis b a stalament ol conditions and inlormation corrcerning tfu ftopedy. Unless oherwise advir€d, ho O,vrle doos ml pc66s 8ny
opertiso h corshrdim, ardritoct tc, engineerirq u any ofne. spodfic aoas rolaled to th. conshldbo a condition ol inprwomenb m Ur fteorty o h. ftop0fiy
itsell, oha han epying ot harirg ownershi: ol ho Pr4ody. Ttre Omer pGsessas m groelor kmwlodgo [un hat rlrich could bc obblncd by irspocdon of hc
ftqetty by polenlial hryeo, lsseoc, tomnts or thoir roprcootative. Ihis shlement b ml a warranty ol any ldnd by he Orrr, Lbting Agent Firm o any r.tagent
ol Lbting Agent Fim. THIS T ISCLOSURE lS l{OT A SUBIiTIfl IE FoR lNsPEgfntls. ANY POTENIIAL PURCfIASER 0F ItE PROPEFTY 15 EI{COmAGED
TO OBTAIN A PROFESS|ONAI" PERSOML OR OTHER tNSpECnON pRtOR TO puRcflAsltitc, LEASIilc, EXCHAT{G|}|G, RErmMi OR OFFEF|Mi TO
PI,nCIIASE TTG PROPERTY.
lnslructlons lo Ownel: (t) Co.Iplot his lom your!€lf. (4 n€pod loown conditioflB erloctug t|3 pqorty. (3) A[adl additional paga rih you dgnatrnc il
additixal tpoc b rcryhed. (1) Anstlr AtL qroclioos. (5) lt rcrne iterm & mt apply b Prgedy dEck tlol Apdi$o.' (6) ll yor do mt lqlor thc anervcr b r
pctixr c do mt undemtand e qrctixt, drock tr ansrvr 'Unloowt.'
Oume/f Slatemenl: Ever lurgh hb b mt e wareny, [r ovoer heeby ryecifically makee tr Hlo,virp repcenhliom beaed cr tr OnnCr hodcdgo es
ol the abotre data. Own6r agrees b mtily tjsting Agont Fim il any answer rot lortr bolorr bocomc untuo. Tho Oivna uhodze Lbling Agont Fim b pwide a
copy of hb stato.noflt b any porcon or entity in coonoclbn wih any etral o( &ticipated sale, exdrange, leasc o rental ol tr Property.
PAnp6alt S Aul.u5 r \11+
Ornor Q f Elt-not ocu+ying tre poperty.
2ftoperty:AtA\) Acs\ L\,1 fl€r$c6 (uA
Omer(s):h!4 A'arD LMJ (o..i<rE C(0r<_\(
Approximate aqse bohgo frf ryplkrble):Nrr
q Sa.knl f'tata.
TO BE COMPLEIED BY OWNER: (Pleaee Print)
ARE
To the best of my knowledge, concerning the Property referenced above:
1 O Not Appllcablefue trere any features of the Property strared in cornmon with adjcining
landorners, such as walls, ferrces and drivelays, the use or responsibility lu
maintenance of whidr may havo an etfec,t on the Property?
O Yes EIllo tr Unknown
2 fue there any encroaclrments, eas€ments, leases, liens, adverse possession
daims or similar matten that may affrt the title to the Property?
O Yes (No O Unknown O Not Applicable
3 Are there roorn additions, struc{ural modificatims or other alterations o repairs
mad€ to tre Propefi withoi necessary permits or cornpliance with hrildirq
codes?
O Yeg trNo tr Unknown El'Not Applicable
4 fue there landfills, hazardous wastes, asbestos, radon gas, urea formaldehyde,
elecfromagnetic fields, or other subslancrn that may eflect the Propefi or ttre
oepanb of the Property, or are there any rntifications of envirmrnontal
problems abod the Property hom he EPA or ottrer qovemmental aqencies?
O Yes EIl'lo
-U
O Unknown O Not Appllcable
5 O Unknown O Not Aoollcablefue there any undaground stoage tanks of any kind located on the Property?O Yea EIllo
6 Has there b€on any eettling lrom any causo, or slippage, sliding or othe poor
soil @nditiom at the Propertv or to adiacent prooerties?
O Yes ONo O Unknown Ei'Not Appllcable
7 Has there been any flooding, drainage, grading problerns, or has water etrer
stood on ths Prope0 or under any improvement constructed thereon?
tr Yec Elllo O Unknown O Not Appllcable
I Has there been any damage to the Property or any ol the stnrturos lrorn firo,
earttRuake, storms, floods or landslides prior to or durinq your ownershio?
O Yec Ellto O Unknoum O Not Applicable
I Are here any violations or rrcrmnfonnirg us€s of the ftopefi regardirry
zoning, land use restric'tions or'se,tback' requirements?
O Yea Eflo O Unknown O Not Applicable
10 fue there any Bills of Assurance, deed restriclions, other obligations, or other
trce restrictions for the Property that a title search would not reveal?
tr Yes E}f{O O Unknown O Not Appllcable
11 tr Not Applicablels there a Horneowners Association, historical preservation district, or
uchitrtural committee or board which has any authoritv over the Property?
O Yes EINo O Unknown
O Not Appllcable12Are here any common areas such as pools, tennis courts a walhrays co
ilrned in undivided interest with others?
O Yer EII'Io O Unknown
O Not Applicable13Are trere any rrctices of abatement or cilations against the Property?0 Yea EINo O Unknown
14 Are there any lawsuits atfecting this Property or judgments against the Orner
that would atfrt the sale of the Prooertv?
Q Yes Eflo tr Unknown O Not Appllcable
1s fue there any neighborhood noise poblems or other nuisances that would not
be normal lor this tvoe of Prooertv?
O Yes EINo O Unknown O Not Appllcable
O Unknown EII.lot Applicable16Are there any known defects in ttre mectranicsl, electrical, plumbing, appliance,
heat and air, water, sswer or septic systems of the Property?
O Yee QNo
ts{d Applicable17Are trere any known defects in the stnrture(s) or substnxture(s) ol any
improvements located on the ftopertv?
O Yes ONo tr Unknown
El'Unknown O Not Aoplicable18ls any of the Property in the lloodplain or floodnay ?O Yeg ONo
O Yea tsfib O Unknown tr Not Appllcable19Has any lender required you to purctrase flood insurarrce on the property?
ONo tr Unknown 6Not AppllcableHas there ever been a problem with the rmf, such as defective shingles,
darnaoed shinoles. leakino or othenvise?
E Yee20
QNo tr Unknown Eltlot ApplicableO Yea21ls there any infestation by termites or similar insects, or is there any krnwn
darnaqe from a previous infestation of this type on the Property?
I
Owner Property
Disclosure
Page 2ol3 Form Serld No._
B
REALTOR'
Copyright
97
touAL r{ouuxc
OPPOiTUXITY Arkansac
REALTORSO
Assoclation
I
I
u Do you Mve krrcwledge or have you ever received notice lrorn a termite
company or other p€rson or entity corrceming possiHe problems u potential
problems with the Property?
O Yea trNo O Unknown El1{ot Applicable
n Have you ever filed or made an insurance dairn, warranty daim, or other daim
corcerning he Property?
tr Yes EIllo O Unknown tr Not Applicable
24 Have you ever received a settlement of a claim and not made the repairs?E Yes QNo O Unknown Ell'lot Applicable
2s Has any p€rson u entity ever refused to complete the purchase ol the Property
because of an astual or alleged problem with the condition of the Property?
tr Yes Elto O Unknown O Not Applicable
26 fue there any leases or rental aqreements currently in ellect on the Property?tr Yes Elffo O Unknown O Not Apolicable
27 Has any part of the Property been desiqnated as Wetlands?O Yea ONo EftJnknown O Not Applicable
28 Are there any persons or efltities, other than those listed above as 'own€rs",
who claim or have ownershio or leasehold interest in the orooertv?
O Yeg SHqo O Unknown tr Not Applicable
n Are there any existing pripelines carrying oil, gas or chemicals underneath or
adjacent to the Property or are there any pipeline rights-of-way or easements
over or adiacent to the Property?
O Yea QNo El{nknown O Not Applicable
30 Are you avyare of an unsatisfac'tory percolation, groundwater, or soil test
corcemino the Prooertv?
Q Yes 6]11o tr Unknown O Not Applicable
31 Has any boundary discrepancy or unsatisfactory condition concerning the
Property been disCosed to yotr, including information obtained from a boundary
suryey, erwironmental report or property inspection?
O Yes tsflo tr Unknown O Not Applicable
32 Are you sware of any events at the subject Property which, if known to a
potential buyer, could adversely affect in a material manner the value or
desirability of the Property?
O Yes Eflo O Unknown O Not Applicable
gt Have any of the struclures on the properU been constrwted at another site
then rnoved onto the orooertv?
O Yes ONo tr Unknoum El'l{ot Appllcable
3l Have there been any problems with any septic system or water well servicirq
the property?
O Yec Ell{o O Unknown O Not Appllcable
3s Are gas, water, and sewer available to he property ard all improvements
thereon supplied by a municipalrty or corrnty?
Elr?eo ONo tr Unknown tr Not Applicable
36 Are trere any other defects in the Property known to you?O Yes Elllo tr Unknown O Not Applicable
lf the answer to any of these is yes, erplain. Attach additional sheets if necessary.
Owner Property
Disclosure
Page 3 ol 3 [E
REALTOR.
Copynght
97
tou^t )ou..xo
oPPOirUXrr Y
Arkansar
BEAL
LEADWARNINC STATEMENT
Every purchaser ol ay intarest in residdntial real propdy on whiclt a residential fuelling was built pior to 1978 b notified that sudr
propedy nay present dxryure to lead lrom lead-based paint that may plaa young dildren at isk ol developing lead paisoning. Lead
poisoning in young ehildran nay prdue pemanant neurolqial danage, induding leaming disabilities, reduqd intelligenu quotient,
behaioral problems, and inpaired memory. Lead paisoning a/so poses a pafbular isk to prcgnant women. The seller ol uy interest in
residential proprty is rquhed lo proide the buyer with any information or lead-based paint hazards lron isk assessments or inspedims
,'h lia se//e/s possession ud notily thd buyer ol uy laom lead-based paint hazards. A nsk assessment or inspdion lor psiile lea&
based paint hazards is reannmended pior to purdtase.
ll the answor to elther ol theee lo yea, erplaln Attach addltlond gheots ll necossary.
3't Are yott awaro of lead-based paint or lead-based paint hazsrds in the lnusing?tr Yes QNo O Unknown Eltrlot Applicable
38 Do yo,J luve any available records or reports pertaining to lead-based paint or
lead-based paint hazards in the hosing?
O Yes trNo Q Unknown Eiflot Applicable
S6mited by: Offirer
}(o.a rt-'.. { cl^o\)hrn)
Ar", f ,p?2.3!+o,@)
Date
Oflner
ACKI.IOWLEDGEMENT:
/'
1 Efftot ApplicableBuyer has received copies of all records and reports pertaining to lead-based
paint or lead-based paint hazards in the housirg available lo he Seller.
O Yes ONo O Unknown
2 O Not ApplicableBuyer has received a copy of the pamphlet, 'Protect Your Family Frorn Lead ln
Your Home.'
tr Yer ONo O Unknown
Roceivod by: Buyer ,afu4*/-64 Buyer
I
Rx. 7 E-7'
American Land Title Association Commitment - 1966
COMMITMENT FOR TITLE INSURANCE
ISSUED BY
fl
MICROFILMED
STE\T'ARA'A'ITI .I'
GUARANTY COMPANY
STEWART TITLE GUARANTY COMPANY, A Texas Corporation, herein called the Company, for a valuable
consideration, hereby commits to issue its policy or policies of title insurance, as identified in Schedule A, in
favor of the proposed lnsured named in Schedule A, as owner or mortgagee of the estate or interest covered
hereby in the land described or referred to in Schedule A, upon payment of the premiums and charges therefor;
all subject to the provisions of Schedules A and B and to the Conditions and Stipulations hereof.
This Commitment shall be effective only when the identity of the proposed lnsured and the amount of the
policy or policies committed for have been inserted in Schedule A hereof by the Company, either at the time
of the issuance of this Commitment or by subsequent endorsement.
This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability
and obligations hereunder shall cease and terminate six months after the effective date hereof or when the
policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue such policy
or policies is not the fault of the Company.
Signed under seal for the Company, but this Commitment shall not be valid or binding until it bears an
authorized Countersignature.
lN WITNESS WHEREOF, Stewart Title Guaranty Company has caused its corporate name and seal to be
hereunto affixed by its duly authorized officers on the date shown in Schedule A.
STEWAITT TIA'T,I'
GUARANTY COMPANY
an
Countersigned by:
dM
Authorized Signatory
com
ABSTRACT co., li.lc.
,
FAYETTEVILIE, AR r27rB
olo
-*-r908
.1.
OO5 - UN - Rev. 3178
\
Sonctity ol Coatract
],
2
ALTA ConmitmenE -L970 SCHEDIILE A . COMTTit,MCNT NO. STGC 97 -4L7N
EffCCTiVC DATC: SEPTEMBER 25 , L997]
Policy or Policies Eo be issued:
aE 7:00 A. M.
ALTA Owner's Po1icy (Amended 10-L7-70)
Amount,
$51,000.00
a municipal corporation
A
PALTA Loan Policy (Amended l-0-L7-70
3
Proposed Insured:
The estrate or interest in the land described or referred Eo in this
ConunitmenE and covered herein is a fee simple.
Title to t,he fee simple estate or interesE in said land is at
the effective date hereof vested in:
Proposed Insured:
THE CITY OF FAYETTEVILLE, ARKANSAS,
4
ALAN R. CLACK and LAhIRENCE E . CLACK
5. The land referred to in this Comnitment is sit,uated in t,he County of
WASHINGTON, State of ARI(ANSAS, and is described as follows:
part of the Southwest Quart,er (SW t/4) of Ehe Southeast Quarter (Se t/4) of
Section Twenty-one (2L), Township Sixteen (16) North, Range Thirty (30) West,
being more particularly described as follows: Conunencing aE the Northwest
corn6r of sli-a aO acre tract,- thence South 89 degrees 39 minutes 23 seconds
East along the North line of said 40 acre tracE 633.00 feet (deed=565 feet,,
more or less) Eo t,he West, right,-of-way of U. S. Highway 47L; thence South 08
degrees 38 minutes 43 seconds West along t,he West right-of-way of said Highway
elZ.gl feet (deed=618.50 feet) to a set iron for the true point, of beginning;
thence South 08 degrees 38 minutes 43 seconds West along said right-of-way
105.11 feet to a point from which a reference cottson spindle set on the North
right-of-way of fwentieth Street bears NorLh 08 degrees 38 minutes 43 seconds
eait 2.54 teet; thence North 89 degrees 39 minutes 23 seconds West 379.59 feeE
to a point from which a reference iron on the North right-of-way of Twentieth
StreeL bears Nort,h 00 degrees 20 minutes 48 seconds East,2.92 feet,'thence
North 00 degrees 20 mj-nutes 48 seconds East 105.00 feet to a set iron; thence
South 89 degrees 39 minuEes 23 seconds East 395.00 feet, to the point of
beginning, containing 0.93 acres, more or less, Fayetteville, WashingEon
County, Arkansas. The above described 0.93 acres tract also being subjecE to
that portion tying within t,he right-of-way of Twent,ieth Street along t,he
South boundary containing 0.02 acres, more or less.
COUIIIIERSIGNED BY:lrrW
BRONSON ABSTRACT COMPAIVY,
28 EAST CEI{ TER STREET
FAYETTEVTLLE, AR . 7270L
*********************************
STEV{ART TITLE
GUARAIflTY COMPAITY*********************************
INC
ALTA CormitmenL -L970 SCHEDI}LE B - I Conunitment No. STGC 97 -4L7N
The following are the requirements to be complied with:
l_payment to, or for the account, of, the sellers or mortgagor:s of the
full consideration for the estaEe or intserest Eo be insured'
Instrument,s in insurable form which must be execut'ed, delivered and
duly filed for record:
palrment in full of L996 general real estate Eaxes.
hlarrant.y deed of insured premises from AIan R. C1ack, and spouse, if any'
and Lawrence E. Clack, an-d spouse, if ErY, Eo the City of Fayetteville'
Arkansas, a municipal corporation.
2
(a)
(b)
BRONSON ABSTRACT COMPAI\TY,
28 EAST CENTER STREET
FAYETTEVTLLE, AR . 7270L
*********************************
STEhIART TITLE
GUARAIITY COMPAI{Y*********************************
INC
ALTA Conmitment -L970 SCHEDULE B-II ' Cormnitment No. STGC 97 -4L7N
Schedule B of the policy or policies Eo be issued will contain exceptions
tro the foltowing mat.ters unless the same are disposed of to the
saEisfact,ion of the ComPanY:
1 Defecgs, liens, encumbrances, adverse claims or ot,her mat,ters, if any,
creat.ed, first appearing in Ehe public records or att,aching subseguent
to Ehe effective date hereof but prior to the date the proposed
insured acquires for value of record the estate or interest or morEgage
thereon covered by this Conunitment.
2 Right,s or claims of parties in possession, boundary line disputes,
overlaps, encroachments, and any ot,her mat,t,ers not, shown by the
public records which would be disclosed by an accuraLe survey and
inspection of the land described in Schedule A.
3 Easements, or claims of easemenEs, noE shown by the public records.
Any tien, or right, to a 1ien, for services, Iabor or material hereE,ofore
of hereafter furnished, imposed by law and not shown by the public
records.
Taxes or assessments which are not shown as existing liens by either
the public records or the records of any taxing autshority that levies
taxes or assessment,s on real properEy.
Zoning ordinances, resolutions, tot split or lot line adjusEment
regulations, and subdivision requiremenEs of the municipalit.y or
county in which the insured premises is located.
General Taxes for t,he year L997 and subsequent years not yet due
and payable.
Subject to that, portion of insured premises which lies within the right
of way of 20th street along the soutsh side thereof as shown on the plat
of sun/ey by Alan Reid & Associat,es dat,ed AugusE 22, L997 .
Subject to nonconformity of fenceline along the North side of insured
premises as shown on the p1at, of survey by AIan Reid & Associat,es dated
Augrust 22, L997 .
4
5
6
7
8
9
BRONSON ABSTRACT COMPAIVY,
28 EAST CEIiTTER STREET
FAYETTEVTLLE, AR . 7270L
*********************************
STEI^IART TITLE
GUARAT{TY COMPAI{I'Y*********************************
INC
ALTA Conmitment, -L970 SCHEDTILE A Conrnitment No. STGC 97 -4L7N
COI]I TERSIGNED BY:
BRONSON ABSTRACT COMPAIVY,
28 EAST CEI{ TER STREET
FAYETTEVTLLE, AR . 727 0L
*********************************
STEWART TITLE
GUARANTY COMPAI{I'Y*********************************
INC
#iegat t
Part, of Ehe Southwest Quarter (SW 1/4) ot thE Southeast Quarter (SE 1/4) of
Section Twent,y-one (2L1 , Township Sixteen (16) North, Range Thirty (30) hlest,
being more particularly described as follows: Conunencing at, the Northwest
corner of said 40 acre tract; thence South 89 degrees 39 minutes 23 seconds
EasE along the North line of said 40 acre E6eOfi3.OO feet, (deed=565 feeE,
more or less) Eo the West tAght-of -way of U.:. Highway 47L,' thence South
08 degrees 38 minut,es 43 s16ffias west itong the west iighL-of-way of said
Highway 632 -93 f eet (deed='6t8.50 feet,) to a seE iron for t,he t,rue point of
beginning; thence Sout.h 08 degrees 38 minutes 43 seconds West, along saidright-of-way 106.11 feeE to a point from which a reference cotton spindle set,
on the North right-of-way of Twentieth Street bears Nort,h 08 degrees 38
minut,es 43 seconds East 2.54 feet;. thence North 89 degrees 39 minutes 23
seconds West 379.69 feet t,o a point, from which a reference iron on the Nort.h
right,-of-way of Twentieth Street bears North 00 degrees 20 minutes 48 seconds
East 2.92 feetr; thence North 00 degrees 20 minutes 48 seconds East 105.00
feeE to a set iron; thence South 89 degrees 39 minutes 23 seconds East 395.00
feeE Eo Ehe point of beginning, cont,aining 0.93 acres, more or less,
Fayet,teville, Washington County, Arkansas. The above{escribed 0.93 acres
trlct also being subject to Ehat portion tying wj-ttrir{g)the right-of-way of
Twentiet.h Street along the South boundary containing\O.02 acres, more or less.
))
#requirements(a) Payment in full of L996 general real estate taxes.
(b) Warrant,y deed of insured premises from AIan R.
d[y, and Lawrence E. Clack, and spouse, if any,Fayet.teville, Arkansas, a municipal coa?orat,ion.
fr,Y ht 0/*.r. (o ?'zo-q)
C1ack, and spouse, if
to the City of _\(sr7a.l tb -?-rU
Ut Qwtc,tli M (sry,'d to-r-t)
#excepEions
))
#mortgage
))
ALTA Commitment -L97 0
1. Effective Dat,e: SEPTEMBER 25, L997) at 7:00 A. M.
2. Policy or Policies to be issu€d:
Res, 78 77
CommiEment, No. STGC 97 -4L7N
Amount
$61, 000 . 00
a municipal cor?orat,ion
(
Y
ALTA Owner' s Po1icy (Amended 1-0 - L7 -70 )
Proposed fnsured:
THE CITY OF FAYETTEVILLE, ARI(ANSAS,
3
4
ALTA Loan Policy (Amended 10-L7-70
Proposed Insured:
The estate or interest in the land described or referred to in this
Conunitment, and covered herein is a fee simple.
Title to t,he fee simple estaE,e or int,erest in said land is at
t,he ef f ect.ive dat.e hereof vest.ed in:
ALAN R. CLACK and LAWRENCE E. CLACK
5. The land ref erred t,o in Ehis ConunitmenE. is situat,ed in the County of
WASHINGTON, SLate of ARI(ANSAS, and is described as f ollows:
Part of the Southwest Quarter (SW L/4) of the Southeast Quarter (Sn t/+) of
Section Twenty-one (2L) , Township Sixt,een (r-6) Nort.h, Range Thirty (30) WesE,
being more parEicularly described as follows: Conmencing at. the Nort,hwestcorner of said 40 acre tract,- thence South 89 degrees 39 minutes 23 seconds
East. along t.he Nort,h line of said 40 acre tracL 533.00 feet (deed=555 feeE,
more or less) to the West right.-of-way of U. S. Highway 47L; thence SouE.h 0B
degrees 38 minut,es 43 seconds West along E,he West right,-of-way of said Highway
632.93 feeE, (deed=6L8.50 f eet.) to a set iron for E.he Erue point of beginning;
thence South 0B degrees 38 minutes 43 seconds West, along saj-d right-of-way
106.11 feet Lo a point from which a reference cotton spindle set on the NorEhright,-of-way of Twentieth St,reet bears Nort.h 08 degrees 38 minutes 43 secondsEast 2.54 feet,' E,hence Nort,h 89 degrees 39 minutes 23 seconds West 379.69 feet,to a point from which a reference iron on the NorE.h rj-ght,-of-way of Twentiet.hStreet bears North 00 degrees 20 minutes 48 seconds EasE, 2.92 feet,- thenceNorth 00 degrees 20 minutes 48 seconds East l-05.00 f eet t.o a set iron,. thence
South 89 degrees 39 minut.es 23 seconds East.395.00 feet Eo the point ofbeginning, cont,aining 0.93 acres, more or Iess, Fayetteville, Washington
CounEy, Arkansas. The above described 0.93 acres tract, also being subject tothat porEion lying within t,he right-of-way of Twent.ieEh St.reeE along Ehe
South boundary cont,aining 0.02 acres, more or less.
COUMTERSTGNED BY:/r,rW
BRONSON ABSTRACT COMPAI\IY,
28 EAST CENITER STREET
FAYETTEVILLE, AR . 7270L
INC.***************************** ****
STEWART TTTLE
GUARANTY COMPA}TY
E*orf n E', 7f,-?7
*********************************
SCHBDULE A
ALTA' Conuni tment - L97 0 SCHEDULE e-f ConT nitment, No. STGC 97 -4L7N
The following are t.he requirements t,o be complied wit,h:
1. payment Eo, or for Ehe account of, Ehe sellers or mort,gagors of t,he
fuII consideraE,ion for Lhe esEate or interest, Eo be insured.
2 Instrument,s in insurable form which musE be execut.ed, delivered and
duly filed for record:
(a)
(b)
PaymenE in:fuII of 1996 general real esEaEe Eaxes.
Warranty deed of insured premises from Alan R. Clack, and spouse, if any,
and Lawrence E. Clack, and spouse, if dry, t,o Ehe City of Fayetteville,
Arkansas, a municipal corporation.
BRONSON ABSTRACT COMPAI\ry,
28 EAST CENTER STREET
FAYETTEVILLE, AR . 727 01-
*********** **********************
STBWART TITLE
GUARA}TTY COMPA}TY
rNC.
*********************************
' ALTA Corronitment, -L97 O SCHEDLITE 'B-If CormiLment, No. STGC 97 -4L7N
Schedule B of the policy or policies t,o be issued will contain exceptionsto the following mat,E.ers unless the same are disposed of Eo E.hesatlsfact,ion of Ehe Company:
Defects, liens, encumbrances, adverse claims or other matters, if dily,created, first, appearing in the public records or at,E,aching subsequent,to the effective dat,e hereof but, prior t,o t,he date the proposed
insured acquires for value of record t.he estate or j-nterest or mortgage
t,hereon covered by this CommiEmenE.
Rights or clalms of parties in possession, boundary line disputes,overlaps, encroachment,s, and any other mat.L.ers not, shown by thepublic records which would be disclosed by an accurate su:rrey andinspecti-on of the land described in Schedule A.
Easement.s, or claims of easements, not, shown by t,he public records.
Any 1ien, ot right Eo a lien, for serrrices, labor or material hereEoforeof hereafter furnished, imposed by 1aw and not shown by the pubric
records.
Taxes or assessments which are not, shown as exisEing liens by eiEherthe publj-c records or t.he records of any taxing authorlty t.hat levj-estaxes or assessments on real property.
Zoning ordinances, resoruEions, loE spIlt, or 1ot line adjustmenE,regulations, and subdivision requirement,s of t,he municipaliEy orcounty in which the insured premises is locaEed.
General Taxes for the year L997 and subsequent years not, yet dueand payable.
Subj ect to t,hat port,ion of insured premises which lies within Ehe rightof way of 20th sEreet along the souLh side t.hereof as shown on the platof survey by Alan Rej-d & Associates dated August, 22, L997 .
Subject, Eo nonconformity of fenceline along the Nort,h side of insuredpremises as shown on the plat of sul:vey by Alan Reid & Associates datedAugust 22, L997.
1
2
5
6
3
4
7
B
9
BRONSON ABSTRAC.T COMPAI\TY,
28 EAST CENTER STREET
FAYETTEVILLE, AR. 727 0L
INC.*********************************
STEWART TITLE
GUARA}TITY COMPANY******** *************************
'ALTA Commitment,-
COUNITERSIGNED BY:
BRONSON ABSTRACT COMPA}TY
28 EAST CE}TTER STREET
FAYETTEVTLLE, AR. 727 01-
SCHEDITLE, A CommiE,mCNT NO. STGC 97 -4L7N
***** ********* *******************
STEWART TITLE
GUARA}IITY COMPAITY
L97 0
INC.
*********************************
n'oo Il.B 5rr' rloB aqooB ? ?rl oooEB ? ?orr.o I
L485
81-87 I 8A/D'- )
DOLLARS
McILROY BANK &TRUST MARK E. RISK, BROKER
FOR
PAY
TO
E
vrr?
,r/ 7
I $ 1aa.cp
THE REAL ESTATE CONSULTANTS
1 1 8 N *H'f'[i?r??U,1oor-oru,
FAYETTEVILLE, AR 72701
Fayetteville, Artansas 72701
MEMBER A|VESI BANK GRoup
l4rr/q_r/
ACCOUNT NUMBER
00 02530
NET AMOUNT
to/2/gt PURCHASE OF PROPERTY FROM CLACK, ALAIV & LAWRENCE
60 ,023 .36
AMOUNT REFERENCE
DISCOUNT
CITY OF FAYETTEVILLE,FAYETTEVILLE, AR
BANK OF FAYETTEVILLE
r.AYE I TEULLE. AIIKANSAS
Bt.tfit
820
PAY TO ].IIE OFIDE'1 OI:
BRONSON ABSTRACT CO
P. o. BOX LL4g
FAYETTEVTLLE, AR 72702
TI,IIS CHECK MUST BE
CITY O
o
FAYETTIVILLE, AR
CAPITAL IMPNOVEMENTS CONSTHUCTION FUND 11447CASH CODE It 4447
,trk,t*/rg 0 ,oz3 DOLLARS AND 36 CENTS:k:r*:k*
T'RESENTED WITHIN 60 DAYS FNOM DATEF EAYETTEVILLE
E : ?ooo ?1,
No.0oa263t
DAT t:
Lo/2/gt
NET AMOUN'T
$60 ,023.36
llt qtIlilrt
J rrt
lE INVOICE AMOUNT
AND RETUBN
t
a
.'.lt
.',.'. ' .t,^)-.a.r.^-
,,.,L::, I ,:{::I,19_
1. DrHa 2. E rnaHn s. ! coNV.uNtNS.
4, Evn s. Econv.tNs.
6. Flle Number
STGC 97-41 7N
7. Loan Number
&ND ADDBESS OF SELLERR. CL-ACK
I-AWRENCE E. CI...ACK
O. NAME AND ADDRESS OF BORROWER
CITY OF FAYETTEVILLE,
113 W. MOUNTAIN ST.,
FAYETTEVILLE 72701
A SETTLEMENT STATEMENT
B. WPE OF LOAN
8. Mortgage lnsurance Case Number
F. NAME AND ADDRESS OF IfNDER
t.DATESETTLEMENT
10-3-97
NOTE:c.formThls ls furnlshed to glve statementyou actualof costs.settlement Amounts andto thepaldby settlement areagent shown.markedItems were"(p.o.c.)"theoutslde aretheycloslng;shown forhere lnformatlonal areandpurposes lncludednot theln totals.
H. SETTLEMENT AGENT
BRONSON ABSTRACT CO., INC.
G. PBOPERTY LOCAT]ON
PT SW SE 21-1 6-30
FAYETTEVILLE, ARKANSAS 72701
PI-ACE OF SETTLEMENT
3810 FRONT STREET, SUITE 5
FAYETTEVILLE, AR 72703
SUMMARJ.OFY 'SBORROWER TRANSACTION
1OO. GROSS AMOUNT DUE FROM BORROWER
101. Contract sales 61 ,000.00 401. Contract sales
102. Personaf 402. Personal
103. Settlement charges to borrower (llne 1400)262.00 403.
104.404.
105.405.
FORADJUSTMENTS PAIDITEMS YB SE LLER NI ADVANCE
106. Cltyfiown taxes to 406.taxes to
107. County taxes to to
108. Assessments to 408. Assessments to
109.409.
1 10.410.
111.411.
112.412.
120, GROSS AMOUNT DUE FROM BORROWER 61 420. GROSS AMOUNT DUE TO SELLER
2OO, AMOUNTS PAID BY OR IN BEHALF OF BORROWER
or earnest money201.1,000.00 501. Excess
amount of new202.502. Settlement to seller
203.taken to 503.taken to
20a. Appllcatlon 504. Payotf of flrst loan
205. Second llen ol second m505.loan
206.506.
207 200.00 so7. su
208.508.
209.509.
ADJUSTMENTS FOR ITEMS UNPAID BY SELLER
210.taxes to 510. Clty/fown taxes to
1-1-97 to 10-3-97211taxes 38.64 51 1.taxes 1-1-97 to 1
212. Assessments to 512. Assessments to
213.51 3.
214.51 4.
215.s1 5.
216.51 6.
217.517
218.518.
219.519.
220. TOTAL PAIO BORROWER 1 8.64 520. TOTAL REDUCT]ON AMOUNT DUE SELLER
3OO. CASH AT SETTLEMENT FROM OR TO BORROWER
301. Gross amount due from borrower (llne 120)61 ,262.00 601 Gross amount due to seller (llne 420)
302. Less arnounts pald borrower 220)( 1 ,238.64)602. Less reductlon amount due selter
303. CASH E FROM N TO BORROWER 60,023.36 603. CASH E TO ! FROM SELLER
61 ,000.00
61 0.00
735.00
200.00
38.64
973.64
00.00
64
1
FORADJUSTMENTS PAIDITEMS BY SELLER ADVANIN CE
5OO. REDUCTIONS IN AMOUNT DUE TO SELLER
ADJUSTMENTS FOR ITEMS UNPAID SELLERBY
AT600CASH SETTLEMENT TO FROMOR SELLER
K.SUMMARY OF SELLER TRANSACTI'S ON
4OO. GROSS AMOUNT DUE TO SELLER
DISBURSEMENT OATE
57,026.36
3,9
61
OF HO AND URBAN NT N o.2502{266
carefully 1 to my and a true and accuratereceipts and disbursements made on my account or by me in this lransaction. I furlher certify that I have received a copy of the HUD-1 Settle-ment Statement.
E.
To the best of my knowledge,is a lrue and accurate account of the funds which werehavebeen or his transaction.
3
WABNING: lt ls a crlme to
For detalls see:18 U. S. Code Sectlon
false statements to the Unlled States on thls or any other slmllar form. Penaltles upon convlctlon can lnctude a flne and1001 and Sectlon 1010.
U
the HUD-1 Settlement Statement which I have
be disbursed by the undersigned as part of t
Prevlous Edltlon ls Obsolete
F2366.1M (03/e1) P(7791) U(7/s/s1)
417
HUD-1 (07-87) RESPA, HB 4305.2
407. County taxes
3
2
The Underslgned Acknowledges Recelpt of rhls setilement statcment and Agrees to tho correctness Thereof.
u's. DEPARTMENT_Or Hogsryq4ND URBAN DEVELOPMENTSETTLEMENT STATEMENT
Q-0"
a
c
HUD-18 Settlement Statement
F2367.1M c (7ts7)
61 ,000.00 @ 6.000 o,$- 31660.00Dlvlslon of commlsslon (llne 700) as foltows:$
,S
ATU
PAID FROM PAID FROM
SELLER'S
FUNDS
TOTAL400.SETTLEMENT CHARGES on line(enter 1 03,JSection and line Section502,K)
417
\/.
1
!
Buyer
SELLER'S/BORROWER'S AFFI DAVIT
State of ARKANSAS
County of WASHINGTON
The undersigned, referred to as Seller/Borrower, whether one or more, being first duly sworn onoath that the Seller/Borrower is the owner of the foltowing desciibea tands, situtated inWASHINGTON County, ARKANSAS . To-wit:
DESCRIPTTON BEING THE SAME AS SHOWN ON EXHIBIT 'A' ATTACHED HERETO AND MADE APART HEREOF.
Seller/Borrower further state the following facts are true:
1. There is no adverse occupant of the property described above.
2' Seller/Borrower and those under whom Setter/Borrower claims tiile, have been in peacefutpossession of said lands for more than 7 years past.
3' There ars no unrecorded options to purchase, sates contracts or lease agreementsoutstanding, which affects the property described above.
4' There have been no improvements made on the property described above during the past130 days for which a mechanics' and materiatmens' tien may be filed.
5' No appliances have been installed in the property described above on deferred paymentswhich are unpaid for.
6' The property described above is not traversed by any roadways or easements except thoseshown on record.
7' There are no delinquent assessments due on the resident's association on the propertydescribed above, if applicable.
B. That no money whatsoever is owed on su bject property to any person, firm, oi corporationother than the followin
9' There are no outstanding iudgments against Selter/Borrower as a result of legal action toinclude, but not limited to, tax liens, divorce, bankruptcy or forectosure.
10' That the marital status of Setler/Borrower has not changed since they acquired abovedescribed property.
Witness the hand and seal of the undersigned of this 3rd day of October, 1gg7
Seller: AIAN Fl. CI-.ACK B OTTOWET: CITY OF FAYETTEVILLE, ARKANSAS
r: I.AWRENCE E. CI.ACK Borrower:
Subscribed and sworn to before ffie, a Notary Public on this 3rd day of 1 997
ublic:
arres:
Please return this to
File #
Rogers, Arkansas, T2T65.
r
AFFID. REF
!D
SEAL
IYRA
INDEMNTTY'AGREEMENT
DATE: October 3. 1997 RE:
PROPERTY ADDRESS: PT SE 21 -16-30
FA LLE.ARKAN 72701
LEGAL: DEscRlPTtoN_pElNG THE SAME AS sHowN oN ExHtBrlA,,ATTAcHED HEBETo aruo ruRoE e FeniriehEiirl'
WHEREAS, CLOSING AGENT iS required to collect county property taxes for prior years from
and prorate funds for the year 1997 , in order to satisfy
may be based on prior year reporting
SELLER(S) will be responsible for any
current year.
4Oc
PARCEL #
the
WHEREAS' cLoslNG AGENT'S information regarding said taxes is based on ligures obtained from the records of theWASHINGToN couNry TAx ASSEssoR's oFFlcE; and said informarion avaitabte at rhe time of the closing of thetransaclion from the said Assessor's oflice is on some occasions only an eslimale of the taxes for the parcel of real property or saidproperty may currently be or at some time ln the future be reassessed.
NoW THEREFoBE' in consideration ol cLosrNG AGENT closing lhis transaction for lhe BoBRowER(s) and/or
'ELLER(.)
based oninlormation available to cLoslNG AGENT, the BoRBoWEB(S) and/or SELLER(S) agree with cLoslNG AGENT as lollows:
1) ln lhe event lhe funds collected to pay taxes for prior years and prorated taxes lor the year 1gg7 , as shown on lheSETTLEMENT STATEMENT for the BoRRowEB(s) and/or SELLER(S) herein, are not suflicient to pay in fufl the actuar rear properrytaxes for said calender years, the BoRRowER(s) and/or sELLER(s)'agree to hold the cLoslNG AGENT harmless lrom any claims anddemands from any lending institutions or other entitles for payment of said raxes, and
2l lf cLoslNG AGENT is required lo advance any of its own funds to pay said taxes, the BoRRoWER(s) and/or SELLER(S) willindemnify CLOSING AGENT lor any such lunds so advanced.
3) The SELLER(s) will make an additional prorata payment of said taxes based on the percentage reflected on the respecriveSETTLEMENT STATEMENT regarding lhis transaction when advised by the cLoslNG AGENT rhat the funds credited to lhe BUyER(s)at lhe closlng for payment of said laxes were nol sufticient lo pay same.
!PRloRYEARTAXESarebasedonamountreporleduv@coUNwTAxcoLLEcToR.
! PRORATEO TAXES are based on amount reported by WASHINGTON CCUNry TAX COLLECTOR,
tr PRORATED TAXES crediled to the BUYER(S) are based on an estimate, calculated as follows: puBcHASE pRlcE x 20% xMILEAGE BATE = ESTIMATEO TAXES.
tr GTON
title requiremenls, and
SSAN
SSAN
couNTY TAx CoLLECToH'S books are cunently closed. Prior years taxes and prorated taxess. ln the event the property is reassessed or rax rigures are adjusted, BoRRowER(s) and/ordifference between amount collected and the actual amount reported on the tax billing for the
THIS AGREEMENT shall be binding on the heirs, successors and assigns of the parties hereto
r("{r.*-$C0o.
SELLER
SSAN
BORROWER
F1227B.LMG (6/96)
417
SELLER'S FORWARDING ADDRESS:
R.
t
BOR
YYA. RANTY DEED': '
MARRIED PERS, )N CONVEYING SOLE OWNERSHIP
WITH SPOUSL'S RELINQUISHMENT OF ALL
RIGH.'S AND INTERESTS
KNOW ALL MEN BY THESf, PRESENTS:
That t,a slngle erson and Lawrence E.
Clack, a married persor.
herelnafter called Grantor, tor 8rlr.'ln conslderatlon of the sum ofOne Dollar ($1 .00) and other good . 1d valuable conslderailon to meln hand pald by
The Clty of Fayetteville, Ark 1nsBS, a municipal
corporaEi-on
herelnafter called Grantee, do hereby grant, barga ind sell unto thesald Grantee and Grantee's helrs and:sslgns, the following describedland, sltuate in
WASHINGTON
-cou
,ty, state of Arkansas, to-wrt:
ParE of t.he SouEhwest euarter (SW L/4) of the Southeast euarEer (SE L/4) ofSection TwenEy-one (21), Township Sixteen (1G) NorEh, Range ThirEy (30)wesE, being more part'icurarly d6scribed as forlows: conunencing aE theNorthwest corner of said 40 acre E,ract,- thence south Bg degrees 3g minut.es23 seconds East arong the NorEh rine of said 40 acre tract 533.00 feet(deed=565 feet, more or less) to the West right_of_way of U. S. Highway471-; thence south oB degrees 38 minuE.es a3 seconds west -aronj the wesE.1ight.-of -way of 5aid Highiay 632.g3 feer (deed=5Lg.5O f eer,) to a ser ironfor the true point of beq.iirning; thence South Og degrees 3g minutes 43seconds west arong said rlghE-o"r-r"y--ioe .rr feeE to a point. from which areference cotton spindre set on the North right-of-way of TwentieE.h st,reetbears North 08 degrees 38 minutes 43 seconas East 2.54 feet,. thence North89 degrees 39 minuEes 23 seconds west, 379.69 feet to a point from which areference iron on the Nort,h figlt-of-way of Twentiet.h st.reet bears North 00degrees 20 minut,es 48 seconds-uast z.gi feet,. thence NorEh o0 degrees 20minutes 48 seconds EasE 105. oo f eet, E.o a_ set iron,. t,hence south Bg degrees39 minutes 23 seconds East. 395. oo feeE to tn.- point of beginning,containing 0 ' 93 acres, more - or ress, Fayet.E,evirle, washington counEy,Arkansas' The above described 0.93."."" tract, also being subject Eo thatporEion lying within Ehe righE,-ot-way- of Twentieth sg.reeE. along the southboundary containing 0.02 acres, more or 1ess.
To HAVE AND To HoLD the said lands and appurtenances thereunto belongrng unro the sald Grantee and Grantee,shelrs and assigns, forever' And l, the said Grantor, 'trereby .or"n"nt that I am lawiutty selzed of said land and premlses,that the same ls unlncumbered, and that I wlll forever wariant and defend the tlils to the sald lands agalnst all legal claimswhatever.
And l' the sald Grantor, hereby release and rellnqulsh unto the sald Grantee my dower/curtesy and homestead ln and tosaid lands.
1' coNNrE GLACK' spouse of Lawrence E' clack ,)rsurltf,)ofr.oarc(Ef,*,rurf do hereby rereaso andffilH:J:^r;li""lf,i?:t,iiltT"fl,,fj,ii,i1"rtesv and homestead rn and to saro rands and qurtcrarm unto sard Grantee any
WITN ESS our hands and seats on th ls 3rd day of 0ctober , 1g 97THIS INSTRUMENT PREPARED BY: BAC
CQcr (Seal)
(Seal)
ALAN
CONNIE CLACK
STATE OF ARKANSAS
County of WASHINGTON
ACKNOWLEDGM ENT
On thls lhe 3 day 61 October , fi 97 , before me, a notary publlc, personaly appeared
and Connie Clackknown to me (or satlsfactorlly proven) lo be the porsons whose names are subscribect to the foregoing rn;t-;;r,Gjacknowledged that they had executed the same for the purposes therern set,orth.
ln witness whereof lhereunto set
My Commlsslon Explres
SS
a
OFFICIAL SEAI
TYRA
ARIG|l&qs
ltY EXPINES 1Ge200s@ wo-MPso
my hand and official seal
l,l to t-k s
-
QUITCLAIMlitrSH DEED
MARRIED PERSON CONVEYING SOLE OWNERSHIP
WITH SPOUSE'S RELINQUISHMENT OF ALL
RIGHTS AND INTERESTS
KNOW ALL MEN BY THESE PRESENTS:
T!a! t, ALAIiI R. CLACK, a single person, LAWRENCE E.
CLACK, a marrled person
herelnafter called Grantor, for and ln conslderatlon of the sum of
One Dollar ($1 .00) and other good and valuable conslderatlon to me
ln hand paid by
THE CITY OF FAYETTEVILLE, ARIGNSAS,
corPoratlon
a munlcipal
sell & qultclalm
herelnafter called Grantee, do hereby grant, tmgxla(mdudk unto the
sald Grantee and Grantee's helrs and asslgns, the followlng descrlbed
land, sltuate ln
WASHINGTON County, State of Arkansas, to-wlt
rellnqulsh unto th6 sald Grantee my dower/curtesy and homestead ln and tolnterest, rlght and title I may have thereln.
WITN ESS our hands and seals on th ls
?
Part of Ehe southwest Quarter (s!{l) of the southeasr Quarrer lsut) of section Twenry-one(21), Township Sixteen (16) North, Range Thirry (gO) ti""r, U"ing more parricularlydescribed as follows: commenclng at the Northwest corner of satd 40 acre tract; thenceNorth 89 degrees 39 minutes 23 seconds East al-ong the North line of sald 40 acre Eract633.00 feet (deed=565 feet, more or less) to the wesr rtght-of-way of u. S. Highway 47L;thence South 08 degrees 38 mlnutes 43 seconds West along the west rlght-of-way of saidHlghway 632.93 f.eet (deed=618.50 feet) to a seE lron; rh"r"" North Bi d"gr""s 39 mlnutes23 seconds I'Iest 395.00 feet to a set iron for Ehe true polnt of beglnnint; thence south00 degrees 20 urlnutes 48 seconds west 102.08 feet to a set iron on the North right-of-wayof Twentieth street; thence North 89 degrees 35 minutes 42 seconds west 13.09 feet along theNorth right-of-way of sald Street to an exlstlng fence J-Lne; thence North 07 degrees 39mlnutes,24 seconds East lo2.9o feet to the point of beglnning, contalning 0.02 acres, moreor Less.
To HAVE ANo To HoLD the sald lands and appurtenances thereunto belonglng unto the sald Grantee and Granlee,sheirs and asslgns, forever. ,(Ek)tx)ttE(xrtsxGlgrtqc)fio$ortrorExailxtul(}lxuxlatlly:rretzs<D<rhsld<JandxmdrparEiEs,
lnxE)ffirxrittBxgqi{IlxUil{UutuIrIrdqBa(xxxfixxoru!€fxilen<arlr)cilE(UstU,Krrt€q{t{trxtsxl{t}BuE(larrusr:erroltxxrxqd>c&at6x
xlrdlrls(x
And l, the sald Grantor, hereby release and rellnqulsh unto the sald Granlee my dower/curtesy and homestead ln and tosald lands.
CONNIE CLACK I sPous e of Lawrenc e E. Clack , upttrud(5l(>SrNxGtoflKlf, do hereby retease and
sald lands and qultclalm unto sard Grantee any
day of October
fu{^""$C-Qo
ALAN
10 97t .v
(Seal)
(Seal)
THI$., INSTRUMENT PREPARED BY: BAC
Cau.t\Lt5 CtacL)
CONNIE CLACK c
STATE OF ARKANSAS
County of WASHINGTON
ALAN R.
On thts the 3 day of
CLACK, LAI^IRENCE E. CLACK
ACKNOWLEDGMENT
0ctober , 19 97, before ffio, a notary publlc, personalty appeared
and CONNIE CLACK
ss.
known to me (or sailsfactorlly proven)
acknowledged that they had executed the
to be the persons whose names are subscrlbed to the
same for the purposes thereln set forth.
ln wltness whereof I
My Comm lsslon Expires
MY
,G&a06
sE{r
I},RA
@ wD'MPso
set m y hand and of f lclal seal .
foregoing lnstrument and
t,