HomeMy WebLinkAbout58-73 RESOLUTIONRESOLUTION NO. 58-73
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, 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 Bishop Addition in the City of
Fayetteville, Arkansas. A copy of said contract is attached hereto,
marked Exhibit "A", and made a part hereof.
PASSED ANDAAPPROVED this 17th day. of July , 1973.
APPROVED:
ATTEST:
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known as the Subdivider, and the City of Fayetteville, Arkansas, a Municipal
Corporation, hereinafter known as the City, and enter into the following
contract, to -wit: --e
WITNESSETH
That for and in consideration of the hereinafter mentioned covenants-,
promises, and:conditions, the City agrees to acCept and approve the%Final
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Plat of the fallowing described territory: Bishop Addition, Unit 1, more
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particularly described as:
'A part of the West One-half (144) of the Northwest QUarter (NWI) of .
Section 35, Township 17 North, Range 30 West, Washington County, Arkansas:.
more particularly described as follows: - -
Beginning at the Southeast (SE) corner of said We of the NW, Section 35; y
thence North: 1374.79 feet; thence North 89° 381 00" West 327.21feet: thence
South 1374.79 feet; thence South 89° 38' 00" East 327.21 feet to the point :
of beginningl'containing 10.3 acres more or less.
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Prior to and in advance .of the installation of the improvements required by
Section 3, Part "B" of Cidinance 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 improvements designated in the above-mentioned Ordinance on the
property located in the above described territory within twelve months
from:the date• when the first building permit is issued. No structure nay
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.Ail '
improvements are completed in the entire subdivision, upon a determination -
by the City that all improvements that it deems neceSsary for the use and -H
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.
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r p 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'.
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at a sate of ten (10) per cent per annuM,-and that this contract then will
constitute a lien in favor of the City on the real estate located within•
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the subdivision,; to securepayment 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. This proportionate share per lot -shall :
be determined by.the lot's proportionate ad valorem assessment (less building
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
Witness our hands and seals on this
City of Fayetteville, Arkansas -:
A Municipal Corporation
C K N 0W4L"E'D G A4 E N4T
STATE OF ARKANSAS )
COUNTY OF WASHINGTON ) ss
BE IT REMEMBERED, that on this f day of
came before. the. undersigned, a Notary Public within and
aforesaid, duly commissioned and acting, �, / t._' .� . •
that are known as the parties of the foregoing Contract, and
Me` had executed the same for the consideration and pu
mentioned and set forth.
- Witness my hand and seal as such .Notary Public
day of .04742A)
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C' K• N -0 l4 L: 0 D G .1 E N T
:t STA1'G OF ARKANSAS:; ) s
COUNTY OF t'ASIIINGTON ) .:
before the undersigned, a Notary Public, duly commissioned,,qualifi.ed and
acting, within and for the County aforesaid, appeared in person
and c4,c9n y9&t, o me personally well known who slated they were the Mayor
and City Clerk of Fayetteville, Arkansas, a Municipal Corporation, and were ..
duly authorized in their respective capacities to execute the foregoing, contract:
:for and in the name and behalf of the City of Fayetteville, Arkansas and further
stated and. acknowledged they had executed said instrument for the consideration,
uses and purposes therein mentioned and set forth.
In Testimony_ whereof I have hereunto set my hand and official seal -this