HomeMy WebLinkAbout153-82 RESOLUTION.
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RESOLUTION NO. 1/5.3—'8+
A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND
CITY CLERK TO EXECUTE A REAL ESTATE SALES CONTRACT
WITH W. B. GRIMES FOR THE PURCHASE OF PROPERTY ON
WASHINGTON MOUNTAIN TO BE USED AS A PARK SITE.
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
OF FAYETTEVILLE, ARKANSAS:
That the Mayor and City Clerk are hereby authorized and
directed to execute the real estate sales contract attached
hereto, marked Exhibit "A", and made a part hereof.for the
purpose of enabling the City to acquire land on Washington
Mountain for use as a park site.
PASED AND APPROVED this a/Sfday of DF;(a i , 1982.
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By:
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City Clerk
APPROVED:
By.
Mayor
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MODIFICATION OF REAL ESTATE SALES CONTRACT
This agreement made thiscq day of 1-)/12.4.:, 1983,
by and between the City of Fayetteville, Arkansas, hereinafter
called the Buyer, and Walter V. Grimes, hereinafter called the
Seller.
WHEREAS, the parties hereto have entered into a real
estate sales contract dated dietn' 7
1983, a copy
of which is attached hereto, marked Exhibit "A", and made a
part hereof; and
WHEREAS, the parties desire to enter into a new agreement
modifying the provisions of said contract.
NOW, THEREFORE, the parties mutually agree as follows:
1. Paragraph 1 of said contract is modified by modifying
the legal description contained in said paragraph to read as
set out in Exhibit "B" attached hereto and made a part hereof
and by deleting the last paragraph in said paragraph 1.
2. Paragraph 2(a) in said contract is modified to read
as follows:
(a) The Buyer shall pay to the Seller the sum of
$45,000.00.
3. Paragraphs 2(b), (c), and (d) of said contract are
hereby deleted.
4. Paragraph 5 of said contract is hereby modified
by modifying the last sentence in said paragraph to read as
follows:
Closing shall take place on or before February 8,
1983.
5. All provisions of the contract are incorporated
herein and are hereby modified to conform herewith, but in
all other respects are to be and shall continue in force.
r 714 WITNESS WHEREOF, the parties have executed this
61` .MMo'di-tion of Real Estate Sales Contract on the day and
fyear first above written.
LGA
JATT S -T
By:
City Clerk
CITY OF FAYETTEV
By: \/
LIE , ARKANSAS
Mayor
Walter V. Grimes
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STATE OF ARKANSAS
COUNTY OF WASHINGTON
On this 25th day of January, 1983, appeared before me, Sturman
Mackey, a Notary Public, PAUL R. NOLAND and OLIVIA KELLY, to me
well known as the Mayor and the City Clerk of the City of Fayetteville,
Arkansas, and upon oath state that they did on this 25th day of
January, 1983, execute the foregoing Real Estate Sales Contract, on behalf
of the City of Fayetteville, Arkansas.
Subscribed and sworn to before me this 25th day of January, 1983.
My Commission Expires:
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NOTARY PUBLIC
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REAL ESTATE SALES CONTRACT
THIS AGREEMENT being made and entered into on this;J
day of ��. Z. , 198, by and between Walter V. Grimes
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hereinafter referred to as SELLER, and the City of Fayetteville,
Arkansas, a Municipal Corporation, incorporated under the laws of
the State of Arkansas, hereinafter referred to as BUYER.
W -I -T -N -E -S -S -E -T -H
1. The SELLER in consideration of the payment to be made
by the BUYER and the conditions and convenants to be kept and
performed by the BUYER, as hereinafter set forth, agrees to sell,
and the BUYER agrees to buy, certain real property situated in
Wasnington County, Arkansas, described as follows, to -wit:
A part of the northwest Quarter (N41/4) of the
Southeast Quarter (SE1/4) and a part of the South
Half (S1/2) of the Northeast Quarter (NE1/4) all
in Section Nineteen (19) Township Sixteen (16)
North, Range Thirty (30) West, described as
beginning at the Northeast (NE) corner of said
Northwest Quarter (NW1/4) of the Southeast Quarter
(SE1/4); thence South 00° 50' 55" West 500 feet;
thence North 88° 30' 08" West 430.07 feet to a
point 60 feet East of the West boundary of the
Grimes' property; thence North 01° 11' 46" East
417.58 feet; thence North 81° 47' 10" East 148.69
feet; thence North 00° 20' 56" West 126.09 feet;
thence North 87° 55' 00" East 118.64 feet; thence
North 60 feet to a fence marking the South
right-of-way of a 20 foot open road; thence along
said right-of-way fence North 87° 55' 00" East
174.40 feet; thence North 87° 44' 00" East 57
feet; thence North 86° 34' 48" East 195.20 feet
to a fence corner; thence South 02° 29' 13" West
176.24 feet to the South boundary of said Soutn
Half (S1/2) of the Northeast Quarter (NE1/4);
thence North 88° 30' 17" West 244 feet to the
point of beginning, containing 6.369 acres, more
or less, in Fayetteville, Washington County,
Arkansas.
The BUYER'S agreement to buy shall be contingent upon
the United States Department of Housing and Urban Development
(HUD) approving the census tract in which the above described
property is located as being a "low and moderate income" census
::,tr.act, i.e. a census tract where 50% or more of the families
.residing therein are classified as "low and moderate income"
families and HUD regulations.
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2. The consideration to be paid by the BUYER and the
conditions and covenants to be kept by the BUYER to the SELLER
for the above described real property shall be as follows:
(a) The BUYER shall pay to the SELLER the sum of
twenty-nine thousand, seven hundred dollars ($29,700.00).
(b) The BUYER, as soon as possible, but no longer than
two (2) years from the date of its acquisition of the above
described property, shall construct at BUYER'S expense a paved
public roadway from the South end of East Farmer's Road and along
the North 'portion of the above described acquired'land to that
point where the SELLER'S land begins and said roadway to be
constructed by the BUYER shall be constructed to adequately
handle residential traffic; provided, the BUYER shall be under no
obligation to construct said roadway if, within the said two year
period, the BUYER contracts to purchase the remainder of SELLER'S
property abutting the above described property.
(c) The BUYER, at the time of the construction of the
above mentioned roadway, at BUYER'S expense, shall provide to the
SELLER a bulldozer not less than a D-8, and a competent driver,
for the SELLER to use and under his supervision for one working
day in order that the SELLER may build a roadbed along the West
side of the property herein conveyed.
(d) Until the public roadway is constructed by the BUYER,
the SELLER may cross the above described property in order to get
to the remaining land he owns South of the above described
property, in a manner which will not damage the above described
property. SELLER shall be liable to BUYER for any damages to
said property caused by SELLER, or by his employees, agents or
invitees. This paragraph shall be null and void if BUYER
purchases the remainder of SELLER'S property as provided in
paragraph (b) above.
The conveyance of the above described property shall
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be made by the SELLER to the BUYER by general Warranty Deed
except it shall be subject to recorded restrictions and
easements, if any, which do not materially affect the value of
the property.
4. The SELLER shall furnish to the BUYER a complete
abstract reflecting merchantible title satisfactory to the
BUYER'S attorney, and if there are objections made to the title,
the SELLER shall have a reasonable time to meet the objections
and to cure any possible detects.
5. Taxes and special assessments due on or before
closing shall be paid by the SELLER. Current taxes and special
assessments shall be pro -rated at the time of closing. Closing
shall not take place before January 1, 1983, and shall take place
before January 31, 1983, and possession of said property shall be
delivered to the BUYER at closing.
IN WITNESS WHEREOF, the parties have executed this
AGREEMENT on the day and year first above written.
BUYER:
THE CITY OF FAYETTEVILLE, �✓1 �✓� n
ARKAI]$&�S /' /�/U///
Attest: :,rte
City Clerk
BY:
%J'
Paul R. Nolan°, 44ayor
SELLER
WALT
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ACKNOWLEDGMENT
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STATE OF ARKANSAS
COUNTY OF WASHINGTON )
BE IT REMEMBERED that on this day came before the
undersigned, a Notary Public, within and for the county and state
aforesaid, duly commissioned and acting, WALTER V. GRIMES as
SELLER and the City of Fayetteville, Arkansas, by Paul R. Noland,
Mayor and Olivia A. Kelly, City Clerk, and the said Paul R.
Noland and Olivia A. Kelly stated that they had the authority on
behalf of the City of Fayetteville to execute the above Real
Estate Sales Contract and all parties stated that they had
executed the above and foregoing Real Estate Sales Contract for
the purposes and considerations therein set forth.
WITNESS my hand and seal this--; day of
1983.
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IMy/Commisthion Expires:
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Notary Public