HomeMy WebLinkAbout28-85 RESOLUTIONRESOLUTION ND. 28-85
SCANN &.
A RESOLUTION AUTHORIZING THE MAYOR AND CITY C'f.FRK
TO EXECUTE A LAND SALE CONTRACT WITH BRIPN K. JONES
AND MARY FAYE JONES FOR THE SALE OF CITY PROPERTY
LOCATED AT 3821 McCOLLOM AVENUE
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE QTY OF FAYETTEVILLE,
ARKANSAS:
That the Mayor and City Clerk are hereby authorized and directed
to execute a land sale contract with Brian K. Jones and Mary Faye
Jones for the sale of City property at 3821 McCollum Avenue. A copy
of the contract authorized for execution hereby is attached hereto
marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 19th day of
74771
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, 1985.
LAND SALE CONTRACT
FOR 3821 MCCOLLUM AVENUE
BID N0. 620—'7
CONTRACT
THIS AGREEMENT made at Fayetteville, Arkansas on the day of
, 1985 by the City of. Fayetteville, Arkansas, a
Municipal Corporation h reinaf r referred to as Seller andtc.,..J
ff. 4n, --e/ C � .s/ hereinafter
referred to as Pu
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In consideration of the mutual convents contained herein, the parties
agree as follows:
1.
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Seller shall sell and convey and purchaser shall purchase, on the
terms and conditions hereinafter set forth, and including the
conditions spelled out in the attached Notice To Prospective Bidders
dated February 18, 1985, the real property situated in the City of
Fayetteville, Arkansas, more particularly described as follows:
LEGAL DESCRIPTION
W A part of the SE', of the NE4, of the - SA, and a part
of the NE11, of the SE', of the SWC, Section 33, T -16-N,
R -30-W described as beginning at at point which is N
02-12-20 E 9.95 feet from -the Southeast Corner of the:
4, said SE4, of the NE%,,, of the SWC;
Thence along the East line thereof, S 02-12-20 W
147.28 feet;
Thence N 88-51-31 W 152.06 feet, to the fence corner;
Thence along the fence N.00-48-29 E 148.82 feet;
Thence along the fenceline S 88-17-00 E 155.67 feet,
to the point of beginning, containing 0.52 acres, more or
less, Washington County, Arkansas.
2. The full purchase price for the property is $p /,( etili• C , which
shall be paid in cash or by certified check on the date of closing.
3. On payment of the purchase price as herein provided, or assurance of
its payment satisfactory to seller, seller shall excute 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 15 days prior to the time of closing, a title
binder for an owner's title insurance policy issued by a Title
Company acceptable to buyer. Said title binder shall be for an
Owner's title insurance policy.
If the title commitment discloses unpermitted exceptions that render
the title unmarketable, seller shall have 21 days from the date of delivery
thereof to have the exceptions removed from the committment or to have the
title insurer committ to insure against loss or damage thatmay be occasioned
by such exceptions, and, in such event, the time of closing shall be 28 days
after delivery of the committment or the time expressly specified in paragraph
seven hereof, whichever is later. If the seller fails to have the exceptions
removed or in the alternative to obtain the committment for title insurance
specified above as to such exceptions within specified time, buyer may termi-
nate this agreement or may elect, upon notice to seller within 7 days after
expiration of the 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.
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PAGE TWO
5. Title to the property shall be good and marketable, free and clear of
all encumberances, and liens, except unpaid taxes not delinquent.
6. The contract for the sale of the property described herein shall be
executed and completed, on or before 15 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 30 days from the date
this contract is excuted and shall be at the Office of the City Attorney, 3rd
floor, City Administration Building, 113 W. Mountain Street, in the City of
Fayetteville, Arkansas. Each party shall fully perform all his obligations
hereunder at such times as to insure closing within a period herein specified,
or any extension thereof.
7. Possession of the property shall be delivered upon the date of closing.
Purchaser has inspected the property, including any improvements thereon and
accepts same in their present condition.
8. Risk or loss or damage to the property by fire, storm, burglary, vandalism,
or other casualty, between the date of this agreement and closing shall be
assumed by seller.
9. The following items shall be pro -rated to the date of closing: taxes and
assessments if any, and the lease of one propane fuel tank.
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10. No modificiation of this contract shall be valid or binding unless such
modificiation is in writing, duly dated and signed by both parties.
11. This instrument constitutes the entire agreement between the parties.
Neither party shall be bound by any terms, conditions, statements, or repre-
sentations, oral or written not herein contained, except those conditions con-
tained in the Notice of Prospective Bidders for the sale of this property.
Each party hereby acknowledges that in excuting this contract, (he) (she) 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 agreement.
12. This instrument shall not be effective as a contract until duly signed
by both parties. The execution and the effective date of the contract is the
date first herein above set forth. The date of signature of each party is the
date set forthunless otherwise indicated after his signature.
In witness whereof the parties have excuted this instrument on the day
and year first above written.
WITNESS:
CITY OF FAYETTEVILLE, ARKANSAS
A Munipal Corp tion
BY BY
WITNESS:
PURCHASER:
B/LL&YU
MAYOR
PU
CHASER
OLL.
RCHASER
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February 18, 1985
NOTICE TO PROSPECTIVE BIDDERS
The City of Fayetteville, Arkansas, will accept sealed bids until 10:00
a.m. on March 11, 1985, in Room 326, 3rd Floor, City Administration Build-
ing, 113 West Mountain Street, for the sale of City owned property located
at 3821 McCollom Avenue.
This property is currently being rented by the City of Fayetteville. Pros-
pective bidders desiring to look at this property prior to the submission
of the bids should make arrangements with Brian or Faye Jones at this add-
ress in order to set up a time for inspection of the property.
This property is offered for sale by the City of Fayetteville, Arkansas, on
an "as is, where is" basis.
All bids must be submitted on forms provided by the City. Bid forms and
conditions and the Survey shown as Exhibit "A" may be acquired from the
City Purchasing office in Room 209, City Administration Building, 113 West
Mountain Street, during normal business hours. Bids will not be accepted
which are not submitted on the City's bid form which also provide the terms
that will be included in the land sale contract. If the prospective bidder
include husband and wife, both husband and wife must sign on the line pro-
vided on the contract bidding form.
All interested parties should contact Sturman Mackey, Purchasing Officer,
to obtain a copy of the bidding form contract and for obtaining other in-
formation. Interested parties may call the Purchasing Office at 521-7700,
Ext. 201, should they desire to receive this information over the phone.
The City reserves the right to accept or reject any or all bids, waive
formalities in the bidding and make a bid award deemed to be in the best
interest of the City.
No bid will be considered for less than $27,500.
A good faith deposit of 2% of the whole bid shall be submitted with each
bid. All good faith deposits will be held in escrow until a final a-
ward of bid is made. The good faith deposit of all unsuccessful bidders
will be returned after an award of bid is determined. If the winning bidder
fails, refuses, or neglects to consummate the purchase of the property called
for herein after the bid is awarded, the good faith deposit of the winning
bidder shall be forefeited and become liquidated damages in the favor of the
City of Fayetteville, Arkansas.
The good faith deposit may be in the form of a certified check, cashier's check,
cash or personal check if approved in advance prior to the bid opening by
the Purchasing Officer.
Terms --CASH at Closing.
Sturman Mackey
Purchasing Officer
Published in Northwest Arkansas Times on February 20 and February 27, 1985.
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_ SURVEY DESCRIPTION
A part of the SEi, of the NEIL, of the SWI:, and s part
of the NEL, of the SEN, of the SW:, Section 33,
T -16-N, R -30-W described as beginning at a point which
la N 02-12-20 E 9.95 feet from the Southeast Corner__.__.
of the said SEi, of the NEk, of the SWI;
Thence along the East line thereof, S 02-12-20 W
141.28 feet; '-''-'e
Thence N 88-51-31 W 152.06 feet, to the fence cornr
Thence along the fence N 00-48-29 E 148.82 feet;
Thence along the fenceltne S 88-17-00 E 155.67 feet,
to the point of beginning, containing 0.52 acres, more
or less, Washington County, Arkansas.
CERTIFICATION
This aloe rtRY that 1 tine this dal eompi.
a survey a the store assented properly.
esaemenu ardor erlerwtivRnu remain
esurvey re IPO. n on ht p41 !$urreY.
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OULL'A C. 11 t1NCWAY' V
AR. Registration No. 852
MILNOLLANO
ENGINEERING 4 St'PEEN 1NG
rnpttrncq
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• — FOUND IRIIC PIN
0 —SET IRON PIN
—STONE MARKER
Y.r. — E%ISTISG rENrE
Dr. 3.R. 11
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Filed for record December 20, 1979, at 1:40 P;11 --
Recorded in Survey Book 1 at page 564.
Wnshtntton
Decer.Ser 3, 1'
119
ALTA Comrnitment-1970
SCHEDULE A Commitment No. AR 85-418
1. Effective date: March 21, 1985 at 12:34P. M.
Amount
ALTA "Owner's Policy (Amended 10-17-70) $27,600.00
2. Policy or Policies to be issued:
Proposed Insured:
Brian K. _Jones and Mary Faye Jones, husband
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ALTA Loan Policy (Amended 10-17-70)
Proposed Insured:
and wife
3. The estate or interest in the land described or referred to in this
Commitment and covered herein is a Fee Simple
4. Title to the Fee Simple estate or interest in said land is at
the effective date hereof vested in:
City of Fayetteville, Fayetteville, Arkansas
5. The land referred to in this Commitment is situated in the County of
WASHINGTON, State of Arkansas, and is described as follows:
A part of the Southeast quarter (SE 1/4) of the Northeast quarter (NE 1/4)
of the Southwest quarter (SW 1/4) and a part of the Northeast quarter (NE
1/4) of the Southeast quartter (SE 1/4) of the Southwest quarter (SW 1/4)
of Section Thirty-three (33), Township Sixteen (16) North, Range Thirty
(30) West, more particularly described as follows, to -wit, Beainrr_no at a
point which is North 02 degrees 12 minutes 20 seconds East 9.95 feet from
the Southeast corner of the Southeast quarter (SE 1/4) of the Northeast
quarter (NE 1/4) of the Southwest quarter (SW 1/4), and running, thence
alono the. East line thereof South 02 degrees 12 minutes 20 seconds West
147.28 feet, thence North 88 -degrees 51 minutes 31 seconds West 152.06
feet, to the fence corner; thence alono the fence North 00 degrees 48
minutes 29 seconds East 148.82 feet; thence along the fence line South 88
degrees 17 minutes 00 seconds East 155.67 feet to the point of beoinnina,
containing 0.52 acres, more or less, Washington County, Arkansas. Subject
to roadway right-of-way over the East end thereof.
COUNTERSIGNED BY:
BRONSON ABSTRACT COMPANY, INC.
28 EAST CENTER STREET
FAYETTEVILLE, ARK. 72701
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ARKANSAS TITLE
INSURANCE COMPANY
************************
ALTA Commitment -1970
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SCHEDULE B -I
The following are the requirements
Commitment No.AR 85-418
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to be complied with:
1. Payment to, or tor the account of, the sellers
consideration for the estate or interest to be
a)
Instruments in insurable form which must be
filed for record:
Warranty Deed from the City of Fayetteville, Arkansas, to Brian K.
Jones and Mary Faye Jones, husband and wife.
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or mortgagors of the full
insured.
executed, delivered and duly
b) Resolution authorizing the signators on the above Warranty Deed.
BRONSON ABSTRACT COMPANY, INC.
28 EAST CENTER STREET
FAYETTEVILLE, ARK. 72701
*#**********************
ARKANSAS TITLE
INSURANCE COMPANY
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ALTA Commitment -1970
SCHEDULE B -II Commitment No.RR 85-418
Schedule B of the policy or policies to be issued will contain exceptions
to the following matters unless the sarne are disposed of to the satisfaction
of the Company:
1. Defects, liens, encumbrances, adverse claims or other matters, if any,
created, first appearing in the public records or attaching subsequent
to the effective date hereof but prior to the date of the proposed
insured acquires for value of record the estate or interest or mortgage
thereon covered by this Commitment.
2.
Riahts or claims of parties in possession, boundary line disputes,
overlaps, encroachments, and any other matters not showy by the
public records which would be disclosed by an accurate survey and
inspection of the land described it Schedule A.
3.
Easements, or claims of easements, not shown by the public records.
4. Any lien, or right to a lien, for services, labor or material heretofore
or hereafter furnished, imposed by law and not shown by the public
records.
5.
Taxes or assessments which are not shown as existing liens by either
the public records or the records of any taxing authority that levies
taxes or assessments on real property.
6. Taxes for 1985 and subsequent years
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BRONSON ABSTRACT COMPANY, INC. ARKANSAS TITLE
28 EAST CENTER STREET INSURANCE COMPANY
FAYETTEVILLE. ARK. 72701 ************************
Commitment For Title Insurance
Arktnnias Title Insurance Company, an Arkansas corporation, herein called the company, for a valuable consideration, hereby
commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in
Schedule A, as owner or mortgagee of the estate or interest covered hereby in the land described or referred to in Schedule A,
upon payment of the premiums and charges therefor; all subject to the provisions of Schedules A and B and to the Conditions
and Stipulations hereof.
This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies
committed for have been inserted in Schedule A hereof by the Company, either at the time of the issuance of this Commitment
' or by subsequent endorsement.
This Commitment is preliminary to the issuance of such policy or policies of title insurance and all liability and obligations
hereunder shall cease and terminate 120 days after the effective date hereof or when the policy or policies committed for shall
be issued whichever first occurs, provided that the failure to issue such policy or policies is not the fault of the company.
IN WITNESS WHEREOF, the said Company has caused its Corporate Name and Seal to be hereunto affixed; this instrument,
including Commitment, Conditions and Stipulations attached, to become valid when countersigned by an Authorized Officer or
Agent of the Company.
Attest:
ARKANSAS TITLE INSURANCE COMPANY
BY pay
Secretary > dent
Conditions and Stipulations
1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument.
2. If the proposed Insured has or acquires actual knowledge of any defect, lien, encumbrance, adverse claim or other matter
affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B
hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for
any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose
such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise
acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option
may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability
previously incurred pursuant to paragraph 3 of these Conditions and Stipulations.
3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included
under the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance
hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in
Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event
shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is
subject to the insuring provisions, the Conditions and Stipulations, and the Exclusions from Coverage of the form of policy
or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part
of this Commitment except as expressly modified herein.
4. , Any action or actions or rights of action that the proposed Insured may have or may bring against the Company arising out
of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must
be based on and are subject to the provisions of this Commitment.
REINSURANCE
As additional protection to the insured, an automatic reinsurance agreement exists between Arkansas Title Insurance Com-
pany and Commonwealth Land Title Insurance Company, a Pennsylvania corporation, duly authorized to transact the business
of title insurance in the State of Arkansas.
Commonwealth Land Title Insurance Company by terms of said reinsurance agreement assumes a portion of the loss risk
hereinafter a primary retention of Toss risk by Arkansas Title Insurance Company. A certificate of reinsurance is available upon
request.
American Land Title Association Commitment 1966
Cover Page
Form 100446
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