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Home My WebLink About45-92 RESOLUTION1 • RESOLUTION NO. 45-92 A RESOLUTION AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE A CONTRACT WITH DON JOHNSTON AND DAVID JOHNSON, FOR COST SHARING IN THE CONSTRUCTION OF CORNELL STREET FROM SALEM ROAD WEST TO DAVIS PARK. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF FAYETTEVILLE, ARKANSAS: 5ection 1. That the Mayor and City Clerk are hereby authorized and directed to execute a contract with Don Johnston and David Johnson, for cost sharing in the construction of Cornell Street from Salem Road west to Davis Park. A copy of the Contract authorized for execution hereby is attached hereto marked Exhibit "A" and made a part hereof. PASSED AND APPROVED this 7 day of April 1992. ATTEST: City Clerk APPROVED: 4rie Byl Mayor ADJUSTMENT CITY OF FAYETTEVILLE, ARKANSAS IN -YEAR BUDGET ADJUSTMENT BUDGET YEAR lcViet DEPT: aLLC 1-4•3 et " DIV PROG: 44,4. (.4,0R-t4xme DATE REQUESTED 4-1 - PROJECT OR ITEM REQUESTED: gea-r qv ant .461 scot st..4441 /14.-5C rte..% ban tia ?ALL 4. JUSTIFICATION OF THIS INCREASE Tett. 904.14,141 'fay IthiLa ^e...4614. luseakut. eal•••••1.44 ganAts• 4•*. tocipliarsaa TI -4 -•sr can It)tj. t Ain -EL tirt naca-tiot4 dittic 4 pa ea LOAM' esi...% 4Le 11^-01.4"1 S DA•viih mak, 4tia erfri. 1411 C.0.•••••flad, L 4", auk • lesaS 4.4.0.4S dat••••• C-441 1 pasLett ia• 00S•11•4111•••••••••• • PROJECT OR ITEM DELETED: LIcuot JUSTIFICATION OF THIS DECREASE "FL caosAr MA. Avaas,?•aaAria.�LS. ~La- lr•-41.14.4 4---16•10 st,tat,...testi INCREASZ ACCOUNT TITLE sitar c cell' 43 a- taxa( St - ACCOUNT NUMBER 'It g Sts - - tai .00 AMOUNT PECREASE ACCOUNT TITLE CUSE11404.4. Sesavcs ACCOUNT NUMBER AMOUNT 10%9 33 REQUESTED BY: BUD ET RDINATOR: DEF IRECTOR: 1 011097%.--- A IN. SERVICES DIR: TAAK CITY MANA DATE 3 - 2 VII_ 3SAt12— BUDGET OFFICE USE ONLY Entered Posted DATE OF APPROVAL Type:ABCDE Total program adjustments to date: CONTRACT THIS CONTRACT: executed this 7da day of April, 1992, by and between Don Johnston and David Johnson, hereinafter called the "Subdividers", and the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called the "City". 1. This Contract shall not take effect until and after the Subdividers complete all closing transactions on the legal property hereinafter described. 2. The Fayetteville Planning Commission did, on March 23, 1992, approve a subdivision plat, subject to plat review comments; approval of a grading plan; approval of detailed plans and specifications for water, sewer, streets, and drainage; approval of the Board of Directors; and on March 9, 1992 the Parks & Recreation Advisory Board did recommend to the City Board of Directors acceptance of the proposal for the Davis Park easement. 3. Phase I and in below. The City agrees to accept and approve the final plat of of Walnut Park Addition as hereinafter described prior to advance of the installation of improvements referenced The legal description of said subdivision is as follows: A part of the northwest quarter of the fractional northwest quarter of Section 7, Township 16 North, Range 30 West in Washington County, Arkansas, more particularly described as follows: beginning at a point S 0008138" W 595.54 feet from the northeast corner of said northwest quarter of the fractional northwest quarter, said point being on the East line of same, and running thence S 0008138" W 674.30 feet, thence S 45°08'38" W 5.5 feet to a curve to the right having a radius of 25 feet; thence along said curve a distance of 19.57 feet; thence West 57.76 feet; thence Northwesterly along a curve to the right having a radius of 30 feet a distance of 47.12 feet; thence North 655.46 feet; thence East 110.99 feet to the Point of Beginning, containing 1.73 acres, more or less. Also a part of the northwest quarter of the fractional northwest quarter of Section 7, Township 16 North, Range 30 West in Washington County, Arkansas, being more particularly described as beginning at a point that is S 0°08'38" W 594.54 feet, West 170.99 feet, and thence North 60.00 feet from the N.E. corner of said NW 1/4 of the Fractional NW1/4; thence South 540.00 feet; thence West 390.00 feet; thence North 540.00 feet; thence East 390.00 feet to the Point of Beginning, containing 4.835 acres, more or less 4. The subdividers and the City have agreed that the City will pay fifty percent (50%) of the cost, up to but not to exceed $10,933.00, to construct Cornell Street from Salem Road west to Davis Park. 5. (a) The subdividers hereby grant to the City a lien on Lot 14 of the above described real property to secure the installation of the aforesaid improvements. The Subdividers further agree that in the event they fail to install the aforesaid improvements within a period of one (1) year, the City may, at its sole discretion, install said improvements and take possession of and sell Lot 14 of the above described property, or any part thereof, in any 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) percent per annum, without prejudice to further claim which may arise thereafter under the terms of this contract. (b) The City hereby agrees that it will release its lien on Lot 14 of Walnut Park Addition, Phase I, upon satisfactory • • • construction of Cornell Street as further provided in Section 7 contained herein. 6. 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 said lot has been released from the lien granted herein; provided, the City may, in its sole discretion, release said lot 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 has been satisfactorily completed, and the subdivider has either installed or deposited cash or a performance bond guaranteeing installation of all required improvements. 7. No building permits shall be issued until Cornell Street is completed 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 herein and the City does not elect to exercise its rights under Section 5 hereof, all required improvements must be constructed in accordance with City standards existing at the time installation of said improvements is resumed or begun. 8. The contract shall be binding upon the parties hereto and upon their heirs, successors, and assigns. WITNESS our hands and seals on this 7,64. day of April, 1992. .Johnston David Johnson CITY OF FAYETTEVILLE, ARKANSAS A Municipal Corporation