HomeMy WebLinkAbout46-76 RESOLUTION•
RESOLUTION NO. 44,-76
A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO
EXECUTE A CONTRACT WITH THE DEVELOPER OF OLD WIRE ROAD NORTH
SUBDIVISION TO GUARANTEE INSTALLATION OF REQUIRED IMPROVEMENTS.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
That the Mayor and City Clerk be, and they hereby are,
authorized and directed to execute a contract with the de-
veloper of Old Wire Road North Subdivision to guarantee
installation of required improvements. A copy of said contract,
marked Exhibit "A", is attached hereto and made a part hereof.
PASSED AND APPROVED THIScZADAY OF
ATTEST:
APPROVED:
, 1976.
.277(z e ern—,
MAYOR
lattaimatude
CITY CLERK
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CONTRACT
This contract executed on this ed7,5 day of to5fr—dri.„-nd'enye_
19 Bp, , by and between W. T. STEWART and ROSELYN STEWART hereinafter called
the Subdivider, and the City of Fayetteville Arkansas, a Municipal Corporation,
hereinafter called the City.
In consideration of the mutual covenants contained herein, it is hereby
agreed by and between the Subdivider and the City as follows, to -wit:
1. The City agrees to accept and approve the final Plat of the following
described property prior to and in advance of the installation of improvements
required by Article 3, Section A of Appendix C to the Fayetteville Code of
Ordinances.
Part of the W11 of the fractional NWII of Section 2, and part
of the NE1/4 of the NEls, Section 3, T -16-N, R -30-W, or more
particularly described as follows: Beginning at the NE
corner of the W1/2 of the fractional NA of the above mentioned
Section 2 and running S 000 03' W, 645;78 feet, thence N g90
10' W, 1556.34 feet, thence N 310 06' 18" E, 174.42 feet,
thence N 310 31' 46" E, 564.22 feet, thence S 89° 39' 13" E,
1171.76 feet to the point of beginning and containing 18.98
acres more or less, all in Washington County, Arkansas.
2. The Subdivider agrees to install all improvemets required by
Article 3, Section A of Appendix C to the Fayetteville Code of Ordinances
within
months from the date of this contract.
3. (a) The Subdivider hereby grants to the City a lien on the above
described property to secure the installation of the aforesaid improvements.
The Subdivider further agrees that in the event he fails to install the
aforesaid improvements within the period specified in Section 2 hereof, the
City may, at its sole discretion, install said improvements and take possession
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of and sell all of the above described property, or ar6' part thereof, in any
manner provided by law, and may credit the net proceeds from said sale toward
the costsincurredby the City in providing said improvements, plus interest
at the rate of ten (10) per cent per annum, without prejudice to further claims
which may arise thereafter under the terms of this contract.
(b) The City hereby agrees that it will release its lien on any
individual lot in the subdivision described in Section 1 hereof upon payment
of that lot's proportionate share of the City's costs in providing the aforesaid
improvements plus interest at the rate of ten (10) per cent per annum; the
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proportionate share for each lot is hereby agreed to be the peicentage of the
aforesaid costs plus interest which the ad valorem assessment (less building
improvements) of said lot or lots bears to the total ad valorem assessments
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(less building improvements) of all lots in the subdivisions.
4. No structure shall be occupied and no utilities shall be connected
for occupancy until all required improvements have been completed and
approved by the City Engineer and all lots have been released from the lien
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granted herein; provided, the City may, in its sole discretion, release one or
more lots prior to completion of all required improvements if the City determines
that all improvements it deems necessary for the use and occupancy of said lot or
lots have been satisfactorily completed, and the lot owner has either installed or
deposited cash or a performance bond guaranteeing installation of all required
sidewalks.
S. No building permits shall be issued until all new streets are staked out
and the street grade cut or filled to sub -grade elevation for curb, gutter, and
pavement according to a street profile approved by the City Engineer. In the
event the subdivider fails to complete installation of all required improvements
within the time provided in Section 2 hereof and the City does not elect to exer-
cise its rights under Section 3 hereof, all required improvements must be constructed
in accordance with City standards existing at the time installation of said
improvements is resumed or begun.
Witness our hands and seals this °It%) day of 4-
t 1/4, 2 19-Z
City of Fayetteville
A Municipal Corporation
BY: '-2 £. 6122540;1.1
MAYOR
ATTEST:
CITY CLERK
ROSELiP STEWART
STATE OF Oklahoma
COUNTY OF Tulsa
ACKNOWLEDGMENT
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BE IT REMEMBERED, that on this .28th day of September , 1976,
came before the undersigned, a Notary Public within and for the County
aforesaid, duly commissioned and acting, William T. Stewart and Roselynn Stevart
that are known as the parties of the foregoing Contract, and stated that
they had executed the same for the consideration and purposes therein
mentioned and set forth.
Witness my hand and seal as such Notary Public this 28th
day of September , 19 74
Notary Public
My Commission Expires:
March 22, 1980
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STATE OF ARKANSAS
COUNTY OF WASHINGTON
ACKNOWLODGMENT
BE IT REMEMBERED, that on this i/ft/ day of e_zi.-T,,4,
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before the undersigned, a Notary Public, duly commissioned, qualified and
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acting, within and for the County aforesaid, appeared in person,liarion Q,Orto n
n fleitc Wesibroo e
. , to me personally well known who stated they were the Mayor
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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 aid 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
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day of .' "t (1/4_
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My Commission Expires:
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Notary Public
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