HomeMy WebLinkAbout55-73 RESOLUTION•
RESOLUTION NO. 55-73
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVI LLE, ARKANSAS:
That the Mayor and the City Clerk be and they are hereby
authorized and directed to execute one certain contract guaranteeing
the installation of improvements in Meadowlark Addition in the City
of Fayetteville, Arkansas. A copy of said contract is attached hereto,
marked Exhibit "A", and made a part hereof.
ATTEST:
PASSED AND APPROVED this 3rd day of July
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Cityjqlerk
APPROVED:
, 1973.
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Mayor
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a i Come now
known as the Subdivider,
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Corporation, hereinafter
contract, to -wit:
WITNESSETH
CONTRACT
.Roland Stubblefield
hereinafter
and the City of Fayetteville, Arkansas, a Municipal
known as the City, and enter into the following
That for and in consideration of the hereinafter mentioned convenants,
promises, and conditions, the:City agrees to accept and approve the Final
Plat of the following described territory:
A part of the SW -1/4 of the SE -1/4 pf Section 25, Township 17 North,
Range 30 West, more particularly described as follows:- From the
NE corner,of said SW -1/4, SE -1/4, Section 25, run N 89° 51' 18" W
382.61 feet to the point of beginning; thence N 890 51' 18" W 655.17
feet to the centerline of Old Misseuri Road; thence S 010 47' 37"
E 310.18 feet along said centerline; thence S89° 51' 18" E 644.68
feet: thence •N 000n08' 42" E 310.00 feet to the point of beginning
containing 4.63 acres more or less.
Prior to and in advance of the installation of the improvements required by
Section 3, Part "B" of Ordinance No. 1750 of the Fayetteville Code of
Ordinances entitled "Guarantees in Lieu of Installed Improvements," with the
understanding and agreement by the Subdivider that he will install the
required
property
from the
improvements designated in the above-mentioned Ordinance on the
located in the above described territory within twelve months
date when the first building permit is issued. No structure may
be occupied or utilities connected for occupancy until all improvements
have been completed and all lots released from this contract. Provided,
the City in its sole discretion shall have the option of releasing one or
more individual lots within said subdivision prior to the time that all
improvements are completed in the entire subdivision, upon a determination
by the City that all improvements that it deems necessary for the use and
occupancy of said individual lot or lots have been satisfactorily completed;
however, until such time as such lot or lots have been released of record by
the City, no structure on said lot or lots may be occupied or utilities
connected for occupancy.
The Subdivider hereby covenants and agrees that if he should fail to
comply with the terms of this contract, the City may then install the
..required improvements and charge the cost to the Subdivider, plus interest
at' a rate of ten (4) per cent per annum, aid that this contract then will
constitUte a lien in favor of :he City on the real estate located within
the subdivision, to secure payment of the amount spent by the City in
providing the improvements. In such case, the City hereby agrees that it
will release said lien on any individual lot in the subdivision upon payment
of that lot's proportionate share of the City's cost in making the improve-
ments, plus interest as aforesaid. The proportionate share per lot shall
be determined by the lot's proportionate ad valorem assessment (less building,
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improvements)
It is further understood and agreed that any new street must be staked
out and the street grade cut or filled to sub -grade elevation for curb,
gutter and pavement, according to the street profile which has been approved
by'the City Engineer, before the Building Inspector can issue any permits.
•Witness our hands and seals on this day of Arc/ 192?,
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City 9f Fayetteville, Arkansas
A Municipal Corporation
by AWitek.7.1 Aavi
Russell:D. Purdy2 Mayor
ATTEST:
Helen Young, City Clerk
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STATE OF ARKANSAS
COUNTY OF WASHINGTON
ACKNOWLEDGMENT
BE It REMEMBERED, that on tAis
day of Ard , 1972.
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before the undersigned, a Notary Public, a duly commissioned, qualified and
acting within and for the County aforesaid, appeared in person girt saAJA2
(24-thr:/4.39 5144-1Alere.JCP ; to me personally well known, Ofo/0441"Ad
they wej/thetesident apK Secretapc Of
L..../ • ,ja corporSion, and wy.te by peoper pesolut)tn o/le lets
/Board cyf Directors duiy auth/oriz,d ion theirtespecti,Ve cap/acitils tfl exotute tehe
Oregoins/bontra5i for anrin the/eame aifid behasAf of Slid corioratelon4 and further
stated and acknowledged that
had executed said instrument for the consideration,
•uses and purpose therein mentioned and set forth.
• In Testimony whereof, I have hereunto set my hand and offical seal this
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day of infircf-A,
My Commission Expires:
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