HomeMy WebLinkAbout32-98 RESOLUTIONRESOLUTION NO 32-98
A RESOLUTION APPROVING AN AGREEMENT BETWEEN
PRESTIGE PROPERTIES, DEVELOPMENT AND
CONSTRUCTION, INC. AND THE CITY OF FAYETTEVILLE
FOR MUTUAL PROMISES, COVENANTS, CONDITIONS AND
STIPULATIONS REGARDING PROPERTY LOCATED NORTH
OF MT. COMFORT ROAD AND EAST OF HUGHMOUNT
ROAD
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS*
Section 1. That the City Council hereby approves an agreement between Prestige
Properties, Development and Construction, Inc. and the City of Fayetteville for mutual promises,
covenants, conditions and stipulations regarding property located north of Mt. Comfort Road and
east of Hughmount Road; and authorizes the Mayor and City Clerk to execute said agreement. A
copy of the agreement is attached hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 17'" day of March , 1998.
r' + FF�E�iZ.
fir 1/47 4�
14 I
t?r4.'" a, Mayor
' 4.
30
cNA
By: t //(a%
Heather Woodruff, City erk
APPROVED•
By
F ed Hann
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•
AGREEMENT
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THIS AGREEMENT is made and entered into this .3/at day of /yoreoi
1998, by and between the City of Fayetteville, Arkansas, (hereinafter referred to as "City"),
and Prestige Properties, Development and Construction, Inc., an Arkansas Corporation
(hereinafter referred to as "Prestige"). For and in consideration of the mutual promises,
covenants, conditions and stipulations hereinafter set forth, all parties hereto do agree as
follows, to wit:
1. Prestige will pay the cost of constructing Rupple Road to a width of a 28 feet, curb
and gutter section with a 10 feet trail located on the west side, from Mt. Comfort Road to a
point approximately 100 feet north of the centerline of Serenity Way.
2. Payment for said road construction costs will be made on a pro rata basis to the City
by Prestige as each tract or phase of development within the 183 acre tract receives large
scale development or PUD approval. Development shall be in tracts or phases over a term
of 12 years.
3. The City will timely commence and complete construction of that portion of Rupple
Road described in paragraph 1 above to service the new middle school and will be
reimbursed by Prestige for the cost of construction the road in the manner described above.
4. Prestige will give to the City a recordable lien on the approximately 183 acre tract for
the cost of Prestige's construction obligation.
5. The City will promptly release the lien on each tract or phase of development upon
receiving payment on a pro rata basis at the time each tract receives large scale development
or PUD approval.
6. Prestige agrees to convey a 20 acre tract within the 203 acres to be annexed adjoining
the Rupple Road construction to the Fayetteville School District No. 1.
7. Prestige agrees to convey a minimum of 40 acres within the 203 acres to be annexed
to the City as park land.
8. The City agrees to accept Prestige's road construction obligation set forth herein as
fulfilling any obligation Fayetteville School District No. I. may have, now or in the future, for
t.
any improvements to Rupple Road due to construction of a school and/or improvements on
the aforementioned 20 acre parcel.
9. The City recognizes that Prestige has already made a contribution to the construction
of the portion of Rupple Road described herein and agrees to give Prestige credit for that
contribution to ensure Prestige does not pay twice for the same thing. The credit will be
applied to the first tract or phase of development that receives large scale development or
PUD approval, and to each tract or phase thereafter until the credit is used in full.
10. This Agreement reflects the parties' total agreement regarding Prestige's obligation to
that portion of Rupple Road described in paragraph 1 above. It is not intended in any way to
reflect any agreement of the parties as to any other obligations of development set forth in
the ordinances of the City; provided, however, that in addition to the obligation assumed for
Rupple Road under Paragraph 1, for its entire contribution to Rupple Road related to
development of Serenity Place and the above-described 183 acre tract, Prestige shall pay
only the actual cost presently required by ordinance, agreed not to exceed $185,000, for the
remaining construction of Rupple Road from the northern boundary described in Paragraph 1
to Prestige's north property line. This amount includes Y the cost of a 28 foot width street,
and Prestige's proportionate share of the City's cost to build a 32 foot bridge on Rupple Road,
determined on the date of this agreement as shown on the attached Exhibit A, which is
incorporated herein by reference. These costs shall be borne proportionately by each phase
of development when built.
11. Prestige makes the material assertions contained herein voluntarily and with the
knowledge and intent that the City will rely upon the assertions contained herein in Prestige's
application for annexation, zoning, variances and any other matters which may be requested
by Prestige of the City in regard to this land.
12. Prestige shall be excused from all obligations to the City under this Agreement if the
City, or any City representative, board, authority or council, shall fail to approve the
annexation, zoning and variances contemplated by this Agreement.
•
IN WITNESS WHEREOF, this Agreement has been executed by the parties hereto as
of the date and year first above written.
City's Agreement, Revised 3.16.98
By:
By:
CITY OF FAYETTEVILLE, ARKANSAS
krnnew
PRESTIGE PROPERTIES, DEVELOPMENT
AND CONSTRUCTION, INC., an Arkansas
Corporation
Tim Reynolds, President
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EXHIBIT A
TO AGREEMENT BETWEEN THE CITY OF FAYETTEVILLE
AND PRESTIGE PROPERTIES, DEVELOPMENT AND CONSTRUCTION, INC.
dated March 17, 1998
PRESTIGE PROPERTIES
MAXIMI TM OBI.TGATION ANALYSIS -RI JPPLE ROAD NORTH
Assuming;
(a) Rupple Road North has length of 9,200'. This equates to 18400 frontage feet (9,200 x2).
(b) Local road cost per city is $190/ft or $95/frontage ft.
(c) Bridge cost is $50/sq. ft. and bridge is 28 ft. plus 4 ft. walk or 32 ft*
Total cost is 250 x 32 x $50 = $400,000.00
School's Obligation - 1,566.26 frontage + bridge
Street 1,566.26 x $95 = $148,794.70
Bridge 1.566 = 8.51% x 400,000 = $ 34,040.00
18,400 Total $182,834.70
Serenity Way Obligation - 990.5 frontage + bndge
Street 990.5 x $95 =
Bridge 290..5 = 5.38% x 400,000 =
18,400
Total
Required Obligation for School and Serenity Way
Required amount
Less School Obligation
Less Serenity Obligation
Excess paid over and above** Total
Frontage is equal to 1,712.12
less bridge 250 = 1,462.12
Street 1,462.12 x $95 =
Bridge J 717 = 9.30% x 400,000
18,400 Total
Total Obligation
$ 94,097.50
$ 21 520.00
$115,617.50
$440,000.00
($182,834.70)
($115 617.50)
$141,247.80
$138,901.40
3 37 200 00
$176,101.40
For School and Serenity Way $440,000.00
Balance on Rupple Road $176,101.40
Additional Required by City** $ 8 898 60
Maximum Total Obligation Total $625,000.00
Additional changes over and above ordinance paid by developer
* ordinance does not address bridge contribution requirement
** not required by ordinance
$150,146.40
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DECLORATION OF LIEN
KNOW ALL MEN BY THESE PRESENTS:
FILED FOR RECORD
'98 APR 16 PF 2 19
WASHINGTON CO AR
K HARNESS
On this 11' day of March , 1998, for and in consideration of the sum of $1.00
and other good and valuable consideration, the receipt of which is hereby acknowledged,
Prestige Properties, Development and Construction, Inc., an Arkansas corporation,
(hereinafter referred to as the "Owner"), does hereby grant a lien to the City of Fayetteville,
Washington County, Arkansas, an Arkansas Municipal Corporation, (hereinafter referred to
as the "City"), and unto its successors and assigns, against the following described property
situated in Washington County, Arkansas:
SEE ATTACHED EXHIBIT "A"
INCORPORATED HEREIN BY REFERENCE
The foregoing lien is given for the purpose of securing the Owner's obligation to pay
for certain improvements being required by the City in connection with the City's grant of
a variance concerning certain street improvements, which are the responsibility of
Fayetteville School District No. 1, on the above-described real estate, with said obligation
being more specifically set forth in an Agreement date March 31, 1998 between the Owner
and the City.
It is agreed by and between the Owner and the City that the above-described real
estate shall be developed in separate tracts. As the pro -rata share of the payment for the
improvements is paid for each tract developed, the Owner shall have the nght to obtain
partial releases of this lien, in connection therewith. The City shall take any and all action
necessary to provide appropnate timely releases of this lien for each such tract developed.
Upon the payment of all sums which owner is obligated to pay pursuant to the above -
referenced Agreement, this lien shall become void and the City shall promptly take any and all
action necessary to fully release said lien.
WITNESS our hands and seals on the date first above written.
EST•
S re Y
PRESTIGE PROPERTIES, DEVELOPMENT,
AND CONSTRUCTION, INC., an Arkansas
Corporation
By: I t�
Tim Reynolds, President
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) ss.
COUNTY OF WASHINGTON )
BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public,
duly commissioned and acting within and for the County and State aforesaid, Tim Reynolds and
1. /j fr �_( !, as President and Secretary, respectively, of Prestige Properties,
Development and Construction, Inc., personally known to me to be the persons subscribing to
the foregoing Declaration of Lien, and who stated to me that they had executed the same for the
purposes and considerations therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal this 31
day of %'Y -lock '.t , 1998.
My Commission Expires:
cco
1
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PART OF FRACTIONAL SECTION 31, TOWNSHIP 17 NORTH, RANGE 30 WEST AND
A PART OF FRACTIONAL SECTION I, TOWNSHIP 16 NORTH, RANGE 31 WEST,
ALL IN WASHINGTON COUNTY, ARKANSAS, AND BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS, TO WIT:
BEGINNING AT A FOUND STONE THAT REPRESENTS THE CENTER OF SAID
FRACTIONAL SECTION 31, TOWNSHIP 17 NORTH, RANGE 30 WEST, THENCE
RUNNING NORTH 0°25'42" WEST - A DISTANCE OF 1320.00 FEET, (DEED NORTH
1320.00 FEET); THENCE NORTH 89°39'21" EAST (DEED N 89°59'40" E) - A DISTANCE
OF 85.00 FEET; THENCE SOUTH 0°25'42" EAST - A DISTANCE OF 1320.00 FEET,
(DEED SOUTH 1320.00 FEET), TO A FOUND IRON PIN; THENCE SOUTH 0°07'31"
WEST - A DISTANCE OF 220.89 FEET, (DEED SOUTH 220.00 FEET), TO A FOUND
IRON PIN; THENCE NORTH 89°35'47" EAST - DISTANCE OF 1218.65 FEET TO A
FOUND IRON PIN; THENCE NORTH 0°19'33" WEST - A DISTANCE OF 219.63 FEET
(DEED NORTH 220.00 FEET), TO A FOUND STONE; THENCE NORTH 89°48'52" EAST
- A DISTANCE OF 1320.39 FEET (DEED N 89°45'00" E) TO A FOUND STONE THAT
MARKS THE NORTHEAST CORNER OF THE SOUTHEAST QUARTER OF SAID
FRACTIONAL SECTION 31, TOWNSHIP 17 NORTH, RANGE 30 WEST; THENCE
SOUTH 0°10'25" WEST - A DISTANCE OF 1320.00 FEET; THENCE SOUTH 1°34'08"
WEST - A DISTANCE OF 1179.04 FEET; THENCE NORTH 89°59'06" WEST - A
DISTANCE OF 1143.38 FEET, THENCE SOUTH 0°0'54" WEST - A DISTANCE OF
764.20 FEET; THENCE SOUTH 89°59'06" EAST - A DISTANCE OF 1139.94 FEET;
THENCE SOUTH 0°01'29" EAST - A DISTANCE OF 384.08 FEET TO A FOUND
CONCRETE MONUMENT; THENCE SOUTH 89°08'45" WEST (DEED N 89°58'30" W),
A DISTANCE OF 47.96 FEET TO A SET IRON PIN; THENCE NORTH 1°47'57" WEST -
A DISTANCE OF 209.00 FEET TO A SET IRON PIN; THENCE NORTH 1°51'15" WEST -
A DISTANCE OF 160.00 FEET TO A SET IRON PIN; THENCE NORTH 89°59'06" WEST
(DEED S 89°41'38" W), - A DISTANCE OF 1080.42 FEET TO A SET IRON PIN;
THENCE SOUTH 1°47'20" EAST - A DISTANCE OF 369.49 FEET TO A FOUND
CONCRETE MONUMENT; THENCE SOUTH 1°21'49" EAST - A DISTANCE OF 325.82
FEET TO THE CENTERLINE OF MOUNT COMFORT ROAD; THENCE NORTHWEST
ALONG SAID CENTERLINE NORTH 89°10'08" WEST - A DISTANCE OF 31.58 FEET;
THENCE NORTH 69°59'08" WEST - A DISTANCE OF 122.60 FEET; THENCE NORTH
52°15'08" WEST - A DISTANCE OF 94.14 FEET; THENCE NORTH 4°19'06" WEST
(DEED N 3°59'0" W), - A DISTANCE OF 713.63 FEET TO A FOUND IRON PIN;
THENCE SOUTH 89°41'00" WEST (DEED WFST), - A DISTANCE OF 183.06 FEET TO
A FOUND IRON PIN; THENCE SOUTH 0°31'55" EAST (DEED S 000610" E), - A
DISTANCE OF 618.25 FEET; THENCE NORTH 89°54'38" WEST - A DISTANCE OF
778.70 FEET; THENCE NORTH 0°14'33" EAST (DEED: N 0°17'30" E 871.20'), A
DISTANCE OF 872.38 FEET TO A FOUND AXLE; THENCE SOUTH 89°58'26" WEST -
A DISTANCE OF 249.89 FEET, (DEED: N 89°58'30" W 250.00 FEET), TO A FOUND
IRON PIN; THENCE NORTH 0°16'04" EAST (DEED: N 0°11'46" E) ALONG A FENCE
LINE - A DISTANCE OF 255.42 FEET TO A SET IRON PIN; THENCE NORTH 0°18'35"
EAST ALONG A FENCE LINE - A DISTANCE OF 2640.15 FEET (DEED: N 0°22'00" E
2640.05'), TO THE POINT OF BEGINNING, CONTAINING IN ALL 183.05 ACRES,
MORE OR LESS, SUBJECT TO EASEMENTS AND RIGHTS OF WAY.
EXHIBIT "A"
•
FILED FOR RECORD
DECLARATION OF LIEN 98 APR 16 PPl 2 19
WASHINGTON CO AR
IC. IttOFJLMED
On this 31' day of March , 1998, for and in consideration of the sum of $1.00
and other good and valuable consideration, the receipt of which is hereby acknowledged,
Prestige Properties, Development and Construction, Inc., an Arkansas corporation,
(hereinafter referred to as the "Owner"), does hereby grant a hen to the City of Fayetteville,
Washington County, Arkansas, an Arkansas Municipal Corporation, (hereinafter referred to
as the "City"), and unto its successors and assigns, against the following described property
situated in Washington County, Arkansas:
KNOW ALL MEN BY THESE PRESENTS:
RPS. 3a- 98
SEE ATTACHED EXHIBIT "A"
INCORPORATED HEREIN BY REFERENCE
The foregoing lien is given for the purpose of securing the Owner's obligation to pay
for certain improvements being required by the City in connection with the City's grant of
a variance concerning certain street improvements, which are the responsibility of
Fayetteville School District No. 1, on the above-described real estate, with said obligation
being more specifically set forth in an Agreement date March 31, 1998 between the Owner
and the City.
It is agreed by and between the Owner and the City that the above-described real
estate shall be developed in separate tracts. As the pro -rata share of the payment for the
improvements is paid for each tract developed, the Owner shall have the right to obtain
partial releases of this lien, in connection therewith. The City shall take any and all action
necessary to provide appropnate timely releases of this lien for each such tract developed.
98031192
•
Upon the payment of all sums which owner is obligated to pay pursuant to the above -
referenced Agreement, this lien shall become void and the City shall promptly take any and all
action necessary to fully release said lien.
WITNESS our hands and seals on the date first above written.
PRESTIGE PROPERTIES, DEVELOPMENT,
AND CONSTRUCTION, INC., an Arkansas
Corporation
By: It-"&
Tim Reynolds, President
ACKNOWLEDGMENT
STATE OF ARKANSAS )
) ss.
COUNTY OF WASHINGTON )
BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public,
duly comnnssroned and acting within and for the County and State aforesaid, Tim Reynolds and
/0 Pia(J, 4I?r as President and Secretary, respectively, of Prestige Properties,
Development ani Construction, Inc , personally known to me to be the persons subscribing to
the foregoing Declaration of Lien, and who stated to me that they had executed the same for the
purposes and considerations therein contained.
IN WITNESS WHEREOF, I have hereunto set my hand and official seal this Sia#
day of cut, , 1998.
My Commission Expires:
Op a,l)g,,,,..„„
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98031193
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PART OF FRACTIONAL SECTION 31, TOWNSHIP 17 NORTH, RANGE 30 WEST AND
A PART OF FRACTIONAL SECTION 1, TOWNSHIP 16 NORTH, RANGE 31 WEST,
ALL IN WASHINGTON COUNTY, ARKANSAS, AND BEING MORE PARTICULARLY
DESCRIBED AS FOLLOWS, TO WIT:
BEGINNING AT A FOUND STONE THAT REPRESENTS THE CENTER OF SAID
FRACTIONAL SECTION 31, TOWNSHLP 17 NORTH, RANGE 30 WEST, THENCE
RUNNING NORTH 0°25'42" WEST - A DISTANCE OF 1320.00 FEET, (DEED NORTH
1320.00 FEET); THENCE NORTH 89°39'21" EAST (DEED N 89°59'40" E) - A DISTANCE
OF 85.00 FEET; THENCE SOUTH 0°25'42" EAST - A DISTANCE OF 1320.00 FEET,
(DEED SOUTH 1320.00 FEET), TO A FOUND IRON PIN; THENCE SOUTH 0°0791"
WEST - A DISTANCE OF 220.89 FEET, (DEED SOUTH 220.00 FEET), TO A FOUND
IRON PIN; THENCE NORTH 89°35'47" EAST - DISTANCE OF 1218.65 FEET TO A
FOUND IRON PIN; THENCE NORTH 0019'33" WEST - A DISTANCE OF 219.63 FEET
(DEED NORTH 220.00 FEET), TO A FOUND STONE; THENCE NORTH 89°48'52" EAST
- A DISTANCE OF 1320.39 FEET (DEED N 89°45'00" E) TO A FOUND STONE THAT
MARKS THE NORTHEAST CORNER OF THE SOUTHEAST QUARTER OF SAID
FRACTIONAL SECTION 31, TOWNSHIP 17 NORTH, RANGE 30 WEST; THENCE
SOUTH 0°10'25" WEST - A DISTANCE OF 1320.00 FEET; THENCE SOUTH 1°34'08"
WEST - A DISTANCE OF 1179.04 FEET; THENCE NORTH 89°59'06" WEST - A
DISTANCE OF 1143.38 FEET, THENCE SOUTH 00094" WEST - A DISTANCE OF
764.20 FEET; THENCE SOUTH 8999'06" EAST - A DISTANCE OF 1139.94 FEET;
THENCE SOUTH 0°01'29" EAST - A DISTANCE OF 384.08 FEET TO A FOUND
CONCRETE MONUMENT; THENCE SOUTH 89°08'45" WEST (DEED N 89°58'30" W),
A DISTANCE OF 47.96 FEET TO A SET IRON PIN; THENCE NORTH 1°47'57" WEST -
A DISTANCE OF 209.00 FEET TO A SET IRON PIN; THENCE NORTH 1°51'15" WEST -
A DISTANCE OF 160.00 FEET TO A SET IRON PIN; THENCE NORTH 89°59'06" WEST
(DEED S 89°41'38" W), - A DISTANCE OF 1080.42 FEET TO A SET IRON PIN;
THENCE SOUTH 1°47'20" EAST - A DISTANCE OF 369.49 FEET TO A FOUND
CONCRETE MONUMENT; THENCE SOUTH 1°21'49" EAST - A DISTANCE OF 325.82
FEET TO THE CENTERLINE OF MOUNT COMFORT ROAD; THENCE NORTHWEST
ALONG SAID CENTERLINE NORTH 89°10'08" WFST - A DISTANCE OF 31.58 FEET;
THENCE NORTH 69°59'08" WEST - A DISTANCE OF 122.60 FEET; THENCE NORTH
52°15'08" WEST - A DISTANCE OF 94.14 FEET; THENCE NORTH 4°19'06" WEST
(DEED N 3°59'0" W), - A DISTANCE OF 713.63 FEET TO A FOUND IRON PIN;
THENCE SOUTH 89°41'00" WFST (DEED WEST), - A DISTANCE OF 183.06 FEET TO
A FOUND IRON PIN; THENCE SOUTH 0°31'55" EAST (DEED S 0°06'00" E). - A
DISTANCE OF 618.25 FEET; THENCE NORTH 89°54'38" WEST - A DISTANCE OF
778.70 FEET; THENCE NORTH 0°14'33" EAST (DEED: N 0°17'30" E 871 20'), A
DISTANCE OF 872.38 FEET TO A FOUND AXLE; THENCE SOUTH 89°58'26" WEST -
A DISTANCE OF 249.89 FEET, (DEED: N 89°58'30" W 250.00 FEET), TO A FOUND
IRON PIN; THENCE NORTH 0°16'04" EAST (DEED: N 0°11'46" E) ALONG A FENCE
LINE - A DISTANCE OF 255.42 FEET TO A SET IRON PIN; THENCE NORTH 0°18'35"
EAST ALONG A FENCE LINE - A DISTANCE OF 2640.15 FEET (DEED: N 0°22'00" E
2640.05'), TO THE POINT OF BEGINNING, CONTAINING IN ALL 183.05 ACRES,
MORE OR LESS, SUBJECT TO EASEMENTS AND RIGHTS OF WAY.
EXfIIBIT "A"
98031194
1, Kathtasn WrinwYs, QircLi l clerk end, Ex -officio
Re.Coru. - f:‘,: c: F-'Nngton `.'i i4p yr Frrt2.Rpi3S, do hereby
certify that rhit< „yi,irur. QNt v uS 104 fpr Word in my
office ,;r4'e?;;?i: hntos QP.A't the Aeme is now duly
recoi ied e6,mowi dgemeni and, certificate
thereon in Rex/hi P. oil anti Fano aq indicated thereon.
IN WiTNE.36 ItibiCH.riev I have hereunto set my
han' and WYhxaa the tett! of said Court on the date indi-
cate- he eoi,
Vc!hIeen Harron
Cn'( •tnd Ex -officio Recorder
•
(12/7/2006) Sondra Smith - Re: Fwd: Resolution 32-98 Page 1
•
From: Ron Petrie
To: Conklin, Tim; Farthing, Marsha
Date: 12/6/2006 5:08 PM
Subject: Re: Fwd: Resolution 32-98
•ThjulaQ. ,,,,.:1. 4 &Alple.ttnt (Dm_
a • n ,Q1
I will have to let Tim correct me if I am wrong but I believe these items were addressed by a new developer that developed
the same property that was going to be developed by this person and that we would no longer need the lien.
»> Marsha Farthing 12/06/06 1:10 PM »>
Hi all,
Sondra received a call from a title company about some property that the CIty has lien on. It is from 1998 and has
something to do with Rupple Road. Do you have any knowledge of this agreement and if we should still have the lien on
the property? Thanks for your attention to this matter.
Marsha
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1_
we -A ke4fiseeke
1-10 3595 N. College, Fayetteville, Arkansas 72703
/�
Office -Phone: 479=770-6756- Office Fax: 479-770-6759
C,C ��&On-ftkM t
Alicia Tracy, Closing Agent- Direct Line 479-770=6764
i Atracy(aZwacotitle.com
,� Robin Galloway Coordinator- Direct Line: 479-770-6767
cJ realtowayc wacontte:com'
Brenda Hale, Coordinator- Direct Line: 479-770-6754
BhaleOwacotitie.com
DAGO FRVETTEVILLE Fax:479+170+6759 Dec 6 2006 10:3Bam PO01/00d
sWACO
HI II TITLE
SERVING AU Of NORIKtIESF ARKANSAS
t3a -9P.
To: /A( Fax lk 114 -- 7145-
To:
1 95To: Fax #.
To: Fax #:
To: Fax-#::
From:... Robin. Gallaway
Date 1O(o—O (o In Reference To: A-+ ev'-
Page 4 JIncluding cover sheet)
The following documents include- 0 Misc
❑ Title Commitment- D TaxReport-D Survey
O Hud -1 0 Preliminary Hud -1 0 Hazard Insurance
Please call if transmission is incomplete: Thank You.
Comments:
Cooadmt slity Notice
The informsttao mnuStitrthsfn.iraa a....yv i+ —.intSsdaely-fee the see o{4h.M4 l4IaI or entity armed Ken. Lithe
reader of des ucrage is not the ioteded tscipreat or S ceghy«oregret respon.lt to deliver it w the ioteodd =iota the res@r is hnb,
aodWm Oat soy diseeminsiiuo, distttbwio t, at espying of this conammiretion n sttiody pnhtbied. arse kw* received this cotmeooir+rin in erica,
pen acetify to icy.
•
WICO FAYETTEVILLE Fas:479+770t6159 Dec 6 2006 10:38am P002/004
:1L E D- c'.O R.R ECOR D-..
es r curt 96 RPR 16 PM 2 19
TCM AR&TION r
l7ASHIROTOR 00 AR
KNOW ALL MEN BY THESE PRESP.NfS: tt. HARN ES S
On this _flit day of Me,c6 1998, for and in consideration of the sum of 51.00
and other good and valuable consideration, the receipt of which is hereby acknowledged,
Prestige Properties, Devrlhp 'est and Construction. Inc; en- Alkmaar -corporation,
(tiaariaftetreftteedtoesihe Yiamerlidoerbaeleygtentelieato-theCiry-ofFayetteville,
Washington County, Arkansas, an ArltaniSes Municipal Cotpvratien, (hereinafter referred to
as the" (Sty's, and unto its successors and assigns, against the following described property
situated in Washington County, Arkansas:
SEE ATTACHED 1Dpf181T "A"-
• INCORPORATED HEREIN BY REFERENCE
The foregoing lien is given for the purpose of securing the Owner's obligation to psy
for certain improvements being required by the City iu connection with the City's grant of
a variance concerning certain street (mprovatents, which -are -due .responsibility of
Fayetteville School District No. 1, on -the abeve.dncn"hed raafeetate, witli-saittobligation
being mom specifically setfordt man kgreeroantdate- Mach -11: 1998-betweeathcOwoa
and the City.
It-is-agreedhy.andbenveeadre-Owner and the City that the above-described real
estate ehaf be-devcloped-ie-sepsrets tracts.- P` tb• prn-•art sham.of.the payment for the
improvements is paid for each tract developed, the Owner shall have the right to obtain
partial releases of this lien, idwnnection therewith The City shall tale any and alt action
necessary to provide appropristetfinelY releases of this lien for eachsuchtrecrdeveloped.
98031192 2
WACO FAVETTEVILLE Fax:d79.770+6759 Dec 6 2006 10:38am P003/004
Upondie payment" - of-all-armmwhieb-owner-is obligated to pay -muse= to-die..bove-
referencd Agreement, this lien shell become void ant the City shall promptly Woe any and all
action =nary to fully release -mid lint
WITNESS a�bads andoesdroo-the-ere-fast above minas.
PRESTIGE PROPERTIES. DEVELOPMENT,
AND CONSTRUCTION: INC., an Arkama
Corporation
Tim Reynolds, President
ACKNOWLEDGMENT
STATE OF ARKANSAS.
m.
COUNTY OP WASHINGTON )
BELT Tom: maron'ddo day-cmrbdwr de-uade tigned.r a -Novy -Public.
hawk.duly •ped and acting within and for the Canny ad Stare aforesaid, Tim Reynolds and
� m Preside= and Sectetay, respectively, of Prestige Properties,
Dmelo
onaand Cmmuc ion. Enc., pera®ally known w tar to be the pawns aubactibing to
the foregoing Declaration of Lieo, ad who nand to me that they bad executed the mine fm the
pnposeaaodmnvdenttms therein contained-
IN WETNESS WHEREOP, i have hereunto set my band ad official sed this 3/at
day of kVTtisassiTS .CommianionaPirest
I99b-
GY'� infardi�
'�.AEAQ�Ot .
nioty lacer, j,;FGPr Public
itt s 98031193
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FART OF TRACTIONAL SECTION -3I, TOWNNCH-3SNOFTR. BAtia 0_WP3TAND
A PART OF FRACTIONAL SECTION 4 TOWPHBD 16 NORTB. RANGE H WEST.
ALL IN WASHINGTON COUNTY. ARKANSAS. AND BEING MORS PARTICULARLY
DESCRIBED ASTOLLOWA TO WTT
REGRIND/1G AT A POUND STONE THAT REPRESENTS 771E CPMTSI OF SAID
JRACTIONAL.EECHON 31._TOWNIHIP 17 NORTIL RANGE 30 WKN', THENCE
RUMENS NORTH V2P43" WEFT - 4. DISTANCE OP 132040 FEET.. WEED NORIE>
1310.00 FEED; TH ENCENORTH 00'70121• EAST ABED N rat* E) • A DISTANCE
OF. US FECC.THENCE 301/111 0•ss'13" BAST - A DISTANCE OF 1320.00 %FST.
WEED mom 5110.W Fa6D. TO A MUM IRON M11{ THENCE SOUIwO'W71" .
WEST - A DISTANCE OF 720.59 FEET. CIS® SOUTH 120.'4 FEED, TO FOUND
IRON MILTHENCE NOa711.a9•1.5M7" FAST - DISTANCE OF 1312.45 MT TO A
ETIONITAON PINT THENCE NORTH 0 MY WFSt - A DISTANCE Of 2190 FEET
(DFID NORTH 120.00 FEET). 70 A POMO STONE: THENCE NORTB 6'43'57' 1IABT
- A -DISTANCE OE 1310-D FET (DEMI/ 0Y43'OD' A TO A FOUND STONE THAT
MARES THR NOR717EAST CORN 14 OP TS SOUTHEAST QUARTER OF SAID
'FACTIONAL SECTION Hs TOWNSHIP 17 NORTH. RANCE 30 WEST: THENCE
SOITT &1rLi: W T.- A DISTANCE OF I31040 TET THENCE 50UTD I74'OT
WEST - A DISTANCE ON SSW.04 FEET; THENCE NORTH. OWN" WEFT -
DISTANCE OF 114335 NET. THENCE SOUTH 0'0'54" WEST - A DISTANCE OP
Maria -'.SOU19L6'6'OS PAST - A DISTANCE OF 113934 FE2LY:
THENCE SOUTH x0175' EAST - A DISTANCE OF 30AW FFST TO A POUNDS
CONCRETE MONUMENT; THENCE 9017111 6'W4S" WEST WEED 14 6'5170" W).
A DISTANCE 0E47.91FSST-T'O-110IHENCE1COETB 1.47'57 WEST -
A DISTANCE OF26.W FEET 70-A SET IRON PEC: THENCE NOR741-sr 15" WEST •
A DISTANCE OF 16040 FEET TO A SET EON PON; THENCE NORTH WNW" WEST
OWED -5-6"41'10° WSr A -DISTANCE -OF 101041 FEETQ.. TYLE STT IRON PIIft
THENCE SOUTH Pan," FAST - A DISTANCE OP 14940 FEET TO A POUND
CONCRETE MONUMENT; THENCE SOUTH 1.11'49' PAST - A DISTANCE OF 125.02
FEDT TO -THE CENTERLDfSOFMOVN -COMEORIROAD;_THENCENOHIHWEST
ALONG SAID CENTERLDPE NORTH rims- niter - A-DIFTANCa OP 31.511 FEET:.
TIQNCE NORTH 69'HW" WIST • A DISTANCE OF TEITO PTF1T THENCE NORTH
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(p® N 7792r M. • A DISTANCE OF MSS FEAT TO A' FOUND IRON- MN;
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A POUND BON -6151; -THENCE- 9017111 07115" FAST - PUD S 0.46110" E1 • A
DIATANCa OS WIT FELT; THENCE NORTH 29'1'70" WAST • . - DISTANCE OP
770.70 PEET; THENCE NORTH 0'1471" EAST Ems; 14 0.1970" E 871307, A
DISTM(CIIOF2R:UPBETTOh FOIEID AEOZT-TBDasoimI29_'S076°- WPST--
A DISTANCE OF 249.V PEET, SEEM N 6'>r t 150.0 712TE. TO -A -FOUND
BON MA TRENCH NORTH 0'1644" EAST (DUD. 10'1146^ E) ALONG A MAX
I.EQE=A DEI7RICCOP135.4PMTOEASET IHON-FR4;_DWNCENoR'A OIrna !
EAST AIDNC A PENCE LDW - A DISTANCE 07 2660.15 FIST P HD: N VITRO" E
1440451. TO THE POINT OF REGBDIBCG, CONTADCNG D4 AIL IES4.5 ACRES,
MORE OR IBES. S<LJBLT TO EASEMENTS Mm ]0[76S OF WAY.
•
EXHIBIT "A"
98031194
•
RESOLUTION NO. 3 2- 9 8
•
A RESOLUTION APPROVING AN AGREEMENT BETWEEN
PRESTIGE PROPERTIES, DEVELOPMENT AND
CONSTRUCTION, INC. AND THE CITY OF FAYETTEVILLE
FOR MUTUAL PROMISES, COVENANTS, CONDITIONS AND
STIPULATIONS REGARDING PROPERTY LOCATED NORTH
OF MT. COMFORT ROAD AND EAST OF HUGHMOUNT
ROAD.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS:
Section 1 That the City Council hereby approves an agreement between Prestige
Properties, Development and Construction, Inc. and the City of Fayetteville for mutual promises,
covenants, conditions and stipulations regarding property located north of Mt. Comfort Road and
east of Hughmount Road; and authorizes the Mayor and City Clerk to execute said agreement. A
copy of the agreement is attached hereto marked Exhibit "A" and made a part hereof.
PASSED AND APPROVED this 1'L day of March , 1998.
APPROVE,
•
t v� ,. By.
( +'?�, c '_ ) Fed Hanna, Mayor
1 X
/%4,'
By:
By: /%4,'
Heather Woodruff, Ci
•
AGREEMENT
THIS AGREEMENT is made and entered into this .31ol day of /tit/4R r* ,
1998, by and between the City of Fayetteville, Arkansas, (hereinafter referred to as "City"),
and Prestige Properties, Development and Construction, Inc., an Arkansas Corporation
(hereinafter referred to as "Prestige'). For and in consideration of the mutual promises,
covenants, conditions and stipulations hereinafter set forth, all parties hereto do agree as
follows, to wit:
1. Prestige will pay the cost of constructing Rupple Road to a width of a 28 feet, curb
and gutter section with a 10 feet trail located on the west side, from Mt. Comfort Road to a
point approximately 100 feet north of the centerline of Serenity Way.
2. Payment for said road construction costs will be made on a pro rata basis to the City
by Prestige as each tract or phase of development within the 183 acre tract receives large
scale development or PUD approval. Development shall be in tracts or phases over a term
of 12 years.
3. The City will timely commence and complete construction of that portion of Rupple
Road described in paragraph 1 above to service the new middle school and will be
reimbursed by Prestige for the cost of construction the road in the manner described above.
4. Prestige will give to the City a recordable lien on the approximately 183 acre tract for
the cost of Prestige's construction obligation.
5. The City will promptly release the lien on each tract or phase of development upon
receiving payment on a pro rata basis at the time each tract receives large scale development
or PUD approval.
6. Prestige agrees to convey a 20 acre tract within the 203 acres to be annexed adjoining
the Rupple Road construction to the Fayetteville School District No. 11.
7. Prestige agrees to convey a minimum of 40 acres within the 203 acres to be annexed
to the City as park land.
8. The City agrees to accept Prestige's road construction obligation set forth herein as
fulfilling any obligation Fayetteville School District No. I. may have, now or in the future, for
•
•
•
•
any improvements to Rupple Road due to construction of a school and/or improvements on
the aforementioned 20 acre parcel.
9. The City recognizes that Prestige has already made a contribution to the construction
of the portion of Rupple Road described herein and agrees to give Prestige credit for that
contribution to ensure Prestige does not pay twice for the same thing. The credit will be
applied to the first tract or phase of development that receives large scale development or
PUD approval, and to each tract or phase thereafter until the credit is used in full.
10. This Agreement reflects the parties' total agreement regarding Prestige's obligation to
that portion of Rupple Road described in paragraph 1 above. It is not intended in any way to
reflect any agreement of the parties as to any other obligations of development set forth in
the ordinances of the City; provided, however, that in addition to the obligation assumed for
Rupple Road under Paragraph 1, for its entire contribution to Rupple Road related to
development of Serenity Place and the above-described 183 acre tract, Prestige shall pay
only the actual cost presently required by ordinance, agreed not to exceed $185,000, for the
remaining construction of Rupple Road from the northern boundary described in Paragraph 1
to Prestige's north property line. This amount includes % the cost of a 28 foot width street,
and Prestige's proportionate share of the City's cost to build a 32 foot bridge on Rupple Road,
determined on the date of this agreement as shown on the attached Exhibit A, which is
incorporated herein by reference. These costs shall be borne proportionately by each phase
of development when built.
11. Prestige makes the material assertions contained herein voluntarily and with the
knowledge and intent that the City will rely upon the assertions contained herein in Prestige's
application for annexation, zoning, variances and any other matters which may be requested
by Prestige of the City in regard to this land.
12. Prestige shall be excused from all obligations to the City under this Agreement if the
City, or any City representative, board, authority or council, shall fail to approve the
annexation, zoning and variances contemplated by this Agreement.