HomeMy WebLinkAbout83-81 RESOLUTION•
RESOLUTION NO. /34/
A RESOLUTION AUTHORIZING THE MAYOR TO EXECUTE AN
OPTION WITH THE FAYETTEVILLE HOUSING AUTHORITY FOR
THE PURCHASE OF PROPERTY FOR HUD LOW RENT HOUSING
PROJECT NUMBER AR -097-002.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
FAYETTEVI{LLE, ARKANSAS:
That`the Mayor is hereby authorized and directed to
execute an option with the Fayetteville Housing Authority
for the purchase of real property for HUD Low Rent Housing
Project No. AR -097-002. A copy of the option authorized
for execution hereby is attached hereto marked Exhibit "A"
and made a part hereof.
PASSED AND APPROVED. this as day of aL! r
1981. d
ATTEST:
CITY CLERK
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APPROV D:
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OPTION TO PURCHASE
KNOW ALL MEN BY THESE PRESENTS:
That for and in consideration of the sum of One Dollar ($1.00)
and other good and valuable consideration, paid by The. Housing
Je
Authority of the City of Fayetteville, Arkansas, hereinafter called
re
t,"BUYER", the
receipt of which is hereby acknowledged, lithe City
--ofaFayetteville, Arkansas, hereinafter.called-"SELLER!; t does -hereby. -,.-
give and grant unto the Buyer and unto its successors pr assigns,
the right, privilege and option to purchase at any time on or
before midnight, October 31, 1981, in the manner, for the price
and on the terms hereinafter set forth, the following -described
property located in Washington County, Arkansas, to -wit:
The Northeast quarter (NE*) of the Southwest quarter
(SW*) of the Northwest quarter (NW$) of Section Twenty-
two (22) in Township Sixteen (16) North of Range Thirty
(30) West, containing ten (10) acres, more or less.
The purchase price for. the hereinabove described tract shall be
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the
sum of Eighty Thousand'Dollars ($80,000.00) plus expenses
t.
to be paid in cash at closing.
On the closing date the Seller shall make, execute and deliver
to the Buyer a Warranty Deed in proper form conveying the merchan-
table fee simple absolute title to the property under consideration
subject only to easements and rights of way of record, with the
necessary documentarystamps affixed thereto.
All taxes1due prior to the date of May 29; 1981 shall be
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paid by Seller and all taxes due thereafter shall be the respon-
sibility of Buyer.
IN WITNESS WHEREOF, we have hereunto set our hands this 3/
day of August, 1981.
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FAYETTEVILLE, AR
OF THE CITY OF
ANSAS, By Chad Kumpe
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ACKNOWLEDGMENT
STATE OF ARKANSAS )
)ss.
COUNTY OF WASHINGTON) /
BE IT REMEMBERED, that on this 3/ day of August, 1981,
before me, a Notary Public in and for the State and County aforesaid,
appeared the Seller and Buyer, by their authorized agents, and
stated that they had signed the above Option to Purchase for the
purposes therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and seal on
the date first above written.
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