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Home My WebLink About52-76 RESOLUTIONRESOLUTION NO. A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT WITH THE DEVELOPER OF SUMMERHILL, A PLANNED UNIT DEVELOPMENT, 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 developer of Summerhill, a planned unit development, to guarantee installa- tion of required improvements. A copy of said contract, marked Exhibit "A", is attached hereto and made a part hereof. PASSED AND APPROVED THIS MA DAY OF CattLe.4.) APPROVED: , 1976. ');?-e-ce, 40 (24241, MAYOR ATTEST: cStutuu)41,tii.A.M44-be CITY CLERK CONTRACT I Fin 'ir-rs 1 76 OCT 22 Pi4 2:140 reAsH(,*. -- mis contract executed on this cce)-66day of Cala 4 t4. 1916 by and between Sunsnme-Ot_Aitc-x- LAACO to., lot hereinafter called the Subdivider, and the City of Fayetteville, Arkansas, a Municipal Corporation, hereinafter called the City. In consideration of the nmtual 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. LEGAL DESCRIPTION: Final Plat of SUMMERHILL, A Planned Unit Development, more particularly described as follows: Part of the West One-half (W1/2) of the Southwest Quarter (SWI) of Section 25, Township 17 North, Range 30 West, described as follows: Beginning at a point on the West line of said 80 acre tract said point lying South 0 degrees 25 minutes 30 seconds East 693.0 feet from the Northwest Corner of said 80 acre tract, and running thence South 0 degrees 25 minutes 30 seconds East 1124.48 feet; thence East 210.0 feet; thence South 0 degrees 25 minutes 30 seconds East 300.8 feet to a point 15.0 feet North of the center of Stubblefield Road; thence East 402.56 feet; thence North 0 degrees 25 minutes 30 seconds West 2118.9 feet to the North line of said 80 acre tract; thence West 18.56 feet to the center of a spring branch; thence South 8 degrees 33 minutes 30 seconds West with said branch 304.4 feet, thence South 1 degree 32 minutes 30 seconds West 223.1 feet with said branch; thence South 25 degrees 24 minutes 30 seconds West 44.3 feet with said branch; thence South 6 degrees 03 minutes 30 seconds East 130.3 feet with said branch to a point due East of the point of beginning, thence West 532.3 feet to the point of beginning, situated in the City of Fayetteville Washington County, Arkansas, and containing 19.59 acres, more or less. 2. The Subdivider agrees to install all improvements required by Article 3, Section A of Appendix C to the Fayetteville Code of Ordinances within 4ro 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 of and sell all of the above described property, or any part thereof, in any C1S 273 F • manner provided by law, and may credit the net proceeds from said sale toward the costs incurred by 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. (h) 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 proportionate share for each lot is hereby agreed to be the percentage 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 (less building improvements) of all lots in the subdivision. 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 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. 5. 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 exercise its rights under Section 3 hereof, all required improve- ments must be constructed in accordance with City standards existing at the time installation of said improvements is resumed or begun. C1S 274 1 1 WITNESS our hands and seals this(47A day of be \17\ -)Pc - CITY OF FAYETTEVILLE A Municipal Corporation By ATTEST : peretAL4433 LtaeLak CITY CLERK SUMMERHILL LAND COMPA IC. allre#77/— t , P sident 7/41 g int Helen Edmiston, Secretary 27.5 • I. ACKNO LEDGME: T STATE OF ARKArLAS ) COUNTY OF WASHINGTON ) 55 BE IT RE”EMPERED, that on this /1141 day of before the undersigned, a Notary Public, duly commissioned, qualified and acting within and for the County aforesaid, appeared in person*:Lir;,..“.-a* to me personally well known, who stated tilt: they were the President and Secretary of ( * a corporation, and were by proper resolution of its Board of Directors duly authorized in their respective capacities to execute the foregoir,g contract for and in the name and behalf of said corporation, and further stated and acknowledged that they had executed said instrument for the consideration, uses alai purposes therein mentioned a.nd set forth. In Testimony whereof, I have hereunto set my hand =I official seal day of 197/. : ) .z.‘„ Notary Public ::::y4f.psion Expires: rr. 815 2(-hior 1 STAlT C. ANr COLL 1 • h a BE 11 REMEMCEFED, that on azttdzq of (717--e. Lt -Le IX ) before the undersigned, a Norv Pt6lic , duly cor ad srh cacti , c ,ual f i ed and pt Ingo within and for the County a fore s (id , agF ea im.d in person Adric 0 l'-)Ctr• lei \ € LLies-Lbi-cow an to me persona ( ly wo I 1 k no“ n i(-110 s to led they h c it thr Mayor and City Clerk of Fayett evi 1 lc, Arkansas , a Muni cipa 1 Corporation , and IX re duly authorized in their respecti ve capacit les to execute the foregoi ng contract for and in the name and behalf of the City of Fayett evi 1 lo, Arkansas and furt:-.(ar stated and acknowledged they hnd execut ed said instrument for the considerat icn, uses and purposes therein mentioned and set forth. In Testimony whereof 1 have hereunto set my hand and official scal this a _ty, day of ' r athiobi_5,4-_, .19-74 My Commission Expires: , .. , . •.. .. ... -. . /7-1 - ,, ":01 I -lit' • .7 f ja....-./. . 0.•.vi /cue./ - Notary Pubic-,L.c.,,,.. •.: ---S-ti Cs ._. GIS 277