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HomeMy WebLinkAbout32-84 RESOLUTION1 WARRANTY DEED KNOW ALL MEN BY THESE PRESENTS: That the CITY OF FAYETTEVILLE, ARKANSAS, a municipal corporation, for and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration to it in hand paid by John Keary, does hereby grant, bargain and sell unto the said John Keary and unto his heirs and assigns, the following described lands, situate in Washington County, Arkansas, to -wit: A Part of the Northeast Quarter (NEa) of the Northeast quarter (NE') of Section Twenty-eight (28) in Township Sixteen (16) North of Range Thirty (30) West, more par- ticularly described as follows, to wit: Beginning at a point 288.4 feet South of the Northwest corner of the above mentioned 40 acre tract, running, thence South 79 degrees 30 minutes East 102.0 feet, thence South 90.8 feet, thence West 100 feet, thence North 109.2 feet to the place of beginning, located in Washington County, Arkansas. TO HAVE AND TO HOLD the said lands and appurtenances thereunto belonging unto the said John Keary, and unto his heirs and assigns forever. And the said City of Fayetteville, Arkansas, does hereby covenant that it is lawfully seized of said land and premises; that same is unencumbered, and it will forever warrant and defend title to said lands against all claims whatsoever. WITNESS the hand and seal of the City of Fayetteville, Arkansas, a municipal corporation, this ,),lay of February, 1984. ATTEST: 1 IT CLERK l CITY OF FAYETTEVILLE, ARKANSAS A Municipal Corporation By 0.9Ai MAYOR re -2- STATE OF ARKANSAS ) ) ss: ACKNOWLEDGMENT COUNTY OF WASHINGTON) BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, within and for the County aforesaid, duly commissioned and acting, Paul Noland and Suzanne Kennedy, to me well known to be the Mayor and City Clerk, respectively, of the City of Fayetteville, Arkansas, a municipal corporation, Grantor in the foregoing Deed, and stated that they had executed same on behalf of said Grantor for the consideration and purposes therein mentioned and set forth. WITNESS my hand and seal as such Notary Public this 2017;:qday of February, 1984. My commission expires: `f-7-9 This instrument prepared by: James N. McCord City Attorney Post Office Drawer F Fayetteville, Arkansas 72701 v t ,.o,. Notary Public CONTRACT THIS.:AGREEMENT made at Fayetteville,.ArkansaS, on the day of ECB , 1984, by the City of Fayetteville, Arkansas, a municipal corporation, hereinafter referred to as "Seller", and 304-11J KC i 5;21- o.5 --,.hereinafter.referred-to as '.'Purchaser.". In consideration of the mutual covenants contained herein, the parties agree as follows: 1. Seller shall sell and convey and Purchaser shall purchase, on the terms and conditions hereinafter set forth, the real property situated in the City of Fayetteville, Arkansas, more particularly described as follows: LEGAL DESCRIPTION A part of the Northeast quarter (NE4) of the Northeast quarter (NE4) of Section Twenty eight (28) in Township Sixteen (16) North of Range Thirty (30) West, more par- ticularly described as follows, to wit Beginning at a point 288.4 feet South of the Northwest corner of the a- bove mentioned 40 acre tract, running, thence South 79' degrees 30 minutes East 102.0 feet, thence South 90.8 feet, ._thence-West-100:feet,-thence-North:109.-2-feet-to-the--- place of beginning, located in Washington County, Arkansas. 2. The full purchase price for the property is $41Q7'76- which 4017`15! which shall be paid in cash or by certified check on the date of closing. Bids for less than $2,700.00 will not be considered. 3. On payment of the purchase price as herein provided, or assurance of its payment satisfactory to Seller, Seller shall execute and deliver a deed describing the property and conveying the same to Purchaser or his nominee. 4. Seller shall deliver or cause to be delivered to Buyer or Buyer's agent, not less than fifteen (15) days prior to the time of closing, a title binder for an owner's title insurance ---_ -policy=issued=6y-the-=title=company=acceptable-to-Buyer. -Said title binder shall be for an owner's title insurance policy in the amount of the purchase price, covering title to the real estate on or after the date hereof, showing title in Seller sub- ject only to (a) the general exceptions contained in the binder; and (b) any title exceptions set forth in this agreement. -61 If the title commitment discloses unpermitted exceptions that render the title unmarketable, Seller shall have twenty-one (21) days from the date of delivery thereof to have the exceptions removed from the commitment or to have the title insurer commit to insure against loss or damage that may be occasioned by such exceptions, and, in such event, the time of closing shall be twenty-eight (28) days after delivery of the commitment or the time expressly specified in paragraph seven hereof, whichever is later. If Seller fails to have the exceptions removed or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions within the spec- ified time, Buyer may terminate this agreementor may elect, upon notice to Seller within seven (7) days after the expiration of the twenty- eight (28) day period, to take title to said property in its existing condition. If Buyer does not, so elect, this agreement shall become null and void without further action of the parties. 5. Title to the property shall be good and marketable, free and clear of all encumbrances, and liens, except unpaid taxes not delinquent. 6. Time is expressly declared to be of the essence of this con- tract.c:e The contract shall be executed and completed, on or before ten (10) days from the date set by Seller for the receiving and opening of competitive bids for the purchase of the property herein described. Closing shall be on or before thirty (30) days from the date this con- tract is executed, and shall be at the City Attorney's Office at 119 N. East Ave. in the City of Fayetteville. Each party shall fully per- form all his obligations hereunder at such times as to insure closing • within the period herein specified, or any extension thereof. 7. Possession of the property shall be delivered on the date of closing. Purchaser has inspected the property, including any improve- ments thereon, and accepts the sante in their present condition. 8. Risk of -loss or damage to the property by fire, storm, burglary, vandalism, or other casualty, between the date of this agree- ment and closing, shall be and is assumed by Seller. 9. The following items shall be pro -rated to the date of closing: taxes and assessments. -3- 10. No right or interest of Purchaser hereunder shall be assigned without the prior written consent of Seller, which consent shall not be unreasonably withheld. 11. No modification of this contract shall be valid or binding unless such modification is in writing, duly dated and signed by both parties. 12. This instrument constitutes the entire agreement between the parties. Neither party shall be bound by any terms, conditions, state- ments, or tatements,.or representations, oral or written, not herein: contained. Each party hereby acknowledges that in executing this contract, he has not been induced, persuaded, or motivated by any promise or representation made by the other party, unless expressly set forth herein. All previous negotiations, statements,and preliminary instruments by the parties or their representatives are merged in this instrument. 13. This instrument shall not be effective as a contract until duly signed by both parties. The execution and effective date of the contract is the date first hereinabove set forth. The date.dof signature - by each-party-is--the-date--set-forth unless -otherwise -indicated aftel.h;s signature. IN WITNESS WHEREOF, the parties have executed this instrument on the day and year first above written. * CITY OF FAYETTEVILLE, ARKANSAS A Municipal. Corporation BYq;c1 %' %Led Mayor rl CONTRACT THIS.. AGREEMENT niade at Fayetteville, Arkansat, on the day of FEB , 1984, by the City of Fayetteville, Arkansas, a municipal corporation, hereinafter referred to as "Seller", and JC -1-10 ICC7kR7 5c2� o3-6 / hereinafter referred to as "Purchaser.". In consideration of the mutual covenants contained herein, the parties agree as follows: 1. Seller shall sell and convey and Purchaser shall purchase, on the terms and conditions hereinafter set forth, the real property situated in the City of Fayetteville, Arkansas, more particularly described as follows: LEGAL DESCRIPTION A part of the Northeast quarter (NE;) of the Northeast quarter (NE;) of Section Twenty eight (28) in Township Sixteen (16) North of Range Thirty (30) West, more par- ticularly described as follows, to wit Beginning at a point 288.4 feet South of the Northwest corner of the a- bove mentioned 40 acre tract, running, thence South 79 degrees 30 minutes East 102.0 feet, thence South 90.8 feet, thence West 100 feet, thence North 109.2 feet to the place of beginning, located in Washington County, Arkansas. 2. The full purchase price for the property is $/1‘021.776- which /1a`77b which shall be paid in cash or by certified check on the date of closing. Bids for less than $2,700.00 will not be considered. 3. On payment of the purchase price as herein provided, or assurance of its payment satisfactory to Seller, Seller shall execute and deliver a deed describing the property and conveying the same to Purchaser or his nominee. 4. Seller shall deliver or cause to be delivered to Buyer or Buyer's agent, not less than fifteen (15) days prior to the time of closing, a title binder for an owner's title insurance policy issued by the title company acceptable to Buyer. Said title binder shall be for an owner's title insurance policy in the amount of the purchase price, covering title to the real estate on or after the date hereof, showing title in Seller sub- ject only to (a) the general exceptions contained in the binder; and (b) any title exceptions set forth in this agreement. If the title commitment discloses unpermitted exceptions that render the title unmarketable, Seller shall have twenty-one (21) days from the date of delivery thereof to have the exceptions removed from the commitment or to have the title insurer commit to insure against loss or damage that may be occasioned by such exceptions, and, in such event, the time of closing shall be twenty-eight (28) days after delivery of the commitment or the time expressly specified in paragraph seven hereof, whichever is later. If Seller fails to have the exceptions removed or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions within the spec- ified time, Buyer may terminate this agreementor may elect, upon notice to Seller within seven (7) days after the expiration of the twenty- eight (28) day period, to take title to said property in its existing condition. If Buyer does not so elect, this agreement shall become null and void without further action of the parties. 5. Title to the property shall be good and marketable, free and clear of all encumbrances, and liens, except unpaid taxes not delinquent. 6. Time is expressly declared to be of the essence of this con- tract.%; The contract shall be executed and completed, on or before ten (10) days from the date set by Seller for the receiving and opening of competitive bids for the purchase of the property herein described. Closing shall be on or before thirty (30) days from the date this con- tract is executed, and shall be at the City Attorney's Office at 119 N. East Ave. in the City of Fayetteville. Each party shall fully per- form all his obligations hereunder at such times as to insure closing within the period herein specified, or any extension thereof. 7. Possession of the property shall be delivered on the date of closing. Purchaser has inspected the property, including any improve- ments thereon, and accepts the same in their present condition. 8. Risk of loss or damage to the property by fire, storm, burglary, vandalism, or other casualty, between the date of this agree- ment and closing, shall be and is assumed by Seller. 9. The following items shall be pro -rated to the date of closing: taxes and assessments. • • -3- S 10. No right or interest of Purchaser hereunder shall be assigned without the prior written consent of Seller, which consent shall not be unreasonably withheld. 11. No modification of this contract shall be valid or binding unless such modification is in writing, duly dated and signed by both parties. 12. This instrument constitutes the entire agreement between the parties. Neither partyshallbe bound by any terms, conditions, state- ments,.or representations, oral or written, not herein contained. Each party hereby acknowledges that in executing this contract, he has not been induced, persuaded, or motivated by any promise or representation made by the otherparty, unless expressly set forth herein. All previous negotiations, statements, and preliminary instruments by the parties or their representatives are merged in this instrument. 13. This instrument shall not be effective as a contract until duly signed by both parties. The execution and effective date of the contract is the date first hereinabove set forth. The date of signature by each party is the date set forth unless otherwise indicated after his signature. IN WITNESS WHEREOF, the parties have executed this instrument on the day and year first above written. CITY OF FAYETTEVILLE, ARKANSAS A Municipal Corporation BYqialCi? Mayor RESOLUTION NO.. 32 - 84 A RESOLUTION AUTHORThim,"I'HErsALE OF APPROXIMATELY .23 ACRES LOCATED AT THE EAST END OF 2ND STREET TO JOHN KEARY BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the Board of Directors hereby approves the sale of a parcel containing approximately .23 acres located at the east end of 22nd Street to John Keary at a purchase price of $2,775.00. Section 2. That the Mayor and City Clerk are hereby authorized and directed to execute a Warranty Deed conveying the following described property to John Keary: A part of the NE 1/4 of the NE 1/4 of Section 28 in Township 16 North of Range 30 West, more particularly described as follows, to -wit: Beginning at a point 288.4 feet South of the Northwest corner of the above mentioned 40 acre tract, running thence South 79 degrees 30 minutes East 102.0 feet, thence South 90.8 feet, thence West 100 feet, thence North 109.2 feet to the place of beginning, located in Washington County, Arkansas. PASSED AND APPROVED this 21st day of February 1984. ATTEST: APPROVED: BY 1