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Home My WebLink About83-98 RESOLUTIONRESOLUTION NO 83-98 A RESOLUTION AUTHORIZING THE ACQUISITION OF 12.0 ACRE TRACT OF LAND FROM CAROLYN I. HICKSON, LOCATED ALONG GULLEY ROAD, SOUTH OF JOYCE BOULEVARD AND NORTH OF HIGHWAY 45, FOR THE INSTALLATION OF NEW WATER STORAGE TOWERS IN CONJUNCTION WITH FAYETTEVILLE WATER SYSTEMS IMPROVEMENTS --HIGHWAY 45 AREA; AND APPROVAL OF CLOSING COSTS ASSOCIATED WITH PURCHASE OF THE LAND. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. The City Council hereby approves the acquisition of 12.0 acre tract of land from Carolyn I. Hickson, located along Gulley Road, South of Joyce boulevard and north of highway 45, for the installation of new water storage towers in conjunction with Fayetteville Water Systems Improvements --Highway 45 area. A copy of the offer and acceptance contract is attached hereto marked Exhibit "A" and made a part hereof. In addition, the City Council hereby approves the expenditure of closing costs associated with the purchase. PASSED AND APPROVED this 16'" day of June , 1998. APPROV� By: red Hanna, Mayor ATTEST: By: //. l/;a4f Heather Woodruff, City Jerk 141, 4C‘..s}ILA iF •. , :N 1 T q -wt i LJ F% ..T• -• - ;y' • , C6. .• 19f • 9.1 t f. ' • 1uJ,. • • • OFFER AND ACCEPTANCE CONTRACT 1 The City of Fayetteville, Arkansas, a municipal corporation, hereinafter referred to as the Buyer, offers to buy, subject to the terms and conditions set forth herein, the following described property: SEE ATTACHED EXHIBIT "A" FOR PROPERTY DESCRIPTION 2. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property at closing, the total and cash payment of $ 240.000 . 3. Contingent Earnest Money Deposit: The Buyer herewith tenders a check for $ 5.000.00 to M. A. Westphal (Trust Account), attorney at law, for Carolyn I. Hickson surviving spouse of Robert H. Hickson, hereinafter referred to as the Seller, as earnest money, which shall apply on the purchase price. This offer of purchase is contingent upon approval of the City Council of the City of Fayetteville, Arkansas, and, if they do not so approve, the earnest money deposit will be returned to the Buyer by the Seller. If title requirements are not fulfilled or the Seller fails to fulfill any obligations under this contract, the earnest money shall be promptly refunded to the Buyer. If the Buyer fails to fulfill his obligations under this contract or after all conditions have been met, the Buyer fails to close this transaction, the earnest money may, at the option of the Seller, become liquidated damages to the Seller. Alternatively, the Seller may assert legal or equitable rights which it may have because of breach of this contract. 4. Conveyance will be made to the Buyer by general Warranty Deed, except it shall be subject to recorded instruments and easements, if any, which do not materially affect the value of the property. Such conveyance shall include mineral rights owned by the Seller. 5. The Seller shall furnish a policy of title insurance in the amount of the purchase price from Washington County Abstract and Title Company, Inc. Buyer and Seller shall equally share in the cost of said title insurance policy. 6. Seller agrees to allow Buyer, if Buyer so desires and at Buyer's expense, to survey the property. Seller agrees to cure any title problems which may result from any differences between the recorded legal descriptions of the property and the survey description. Said title problems, if' any, must be solved prior to closing to the satisfaction of the Buyer. 7. Taxes and special assessments due on or before closing shall be paid by the Seller at the time of closing. Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be prorated as of closing. 8. The closing date is designated to be thirty (30) days after approval of this offer by the Fayetteville City Council. If such date of closing falls on a weekend or holiday, it will be held the following working day. • • • OFFER AND ACCEPTANCE CONTRACT Page 2 of 5 9. Possession of the property shall be delivered to the Buyer on the date of closing. 10. Seller hereby grants permission for the Buyer or its employees or designates to enter the above described property and improvements for the purpose of inspection and/or surveying. • 11. All fixtures, improvements and attached equipment are included in the purchase price. 12. Risk of loss or damage to the property by fire or other casualty occurring up to the time of closing is assumed by the Seller. 13. Seller shall disclose to Buyer any and all environmental hazards of which Seller has actual knowledge. 14. This agreement shall be governed by the laws of the State of Arkansas. 15. This agreement, when executed by both the Buyer and the Seller shall contain the entire understanding and agreement of the parties with respect to the matters referred to herein and shall supersede all price or contemporaneous agreements, representations and understanding with respect to such matters, and no oral representations or statements shall be considered a part hereof. 16. This contract expires, if not accepted on or before the 20th day of April, 1998. 17. NOTICE: BUYER ASSERTS AND SELLER HEREBY ACKNOWLEDGES THAT THIS OFFER IS EXPRESSLY CONTINGENT UPON THE APPROVAL OF THIS OFFER OF PURCHASE BY THE CITY COUNCIL OF FAYETTEVILLE AND THAT THE FAILURE OF THE COUNCIL TO SO APPROVE WILL MAKE ALL PORTIONS OF THIS OFFER NULL AND VOID, INCLUDING, BUT NOT LIMITED TO, THE RETURN TO BUYER OF THE $ 5000.00 EARNEST MONEY DEPOSIT. OFFER AND ACCEPTANCE CONTRACT Page 3 of 5 SELLER: Carolyn• Hickson 4Gc/ v AGENT OR WITNESS: Mary Ann West l tial, Attorney at Law BUYER: City of Fayetteville, Arkansas, a municipal corporation Fred Hanna, Mayor Heather Woodruff, City rk Date: C///0 Date: SH/51 Date: 7/741 Date: C/6/9 ,Dp (SEAL) OFFER AND ACCEPTANCE CONTRACT Page 4 of 5 ACKNOWLEDGMENT STATE OF ARKANSAS ss. COUNTY OF WASHINGTON BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared Carolyn I. Hickson, to me well known as the person who executed the foregoing document, and who stated and acknowledged that she had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. ..�ANNWfS SOTARp, rAti contM. f t� to MY iii IubSS 4 E hand and seal on this (SE day of MAI. 1998. 1 Notary Public ACKNOWLEDGMENT STATE OF ARKANSAS ss. COUNTY OF WASHINGTON BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared Fred Hanna and Heather Woodruff, to me well known as the persons who executed the foregoing document, and who stated and acknowledged that they are the Mayor and City Clerk of the City of Fayetteville, Arkansas, a municipal corporation, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said municipal corporation, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. //// WITNESS my hand and seal on this %�'f day of ff�.d// MY COMMISSION EXPIRES: 1997. • cx • 4 OFFER AND ACCEPTANCE CONTRACT Page 5 of 5 EXHIBIT "A" PROPERTY DESCRIPTION A part of the Southeast Quarter (SE'/<) of the Southeast Quarter (SE%) of Section Twenty-nine (29) in Township Seventeen (17) North of Range Twenty-nine (29) West, more particularly described as follows, to -wit: Beginning at a point 24 rods (396 feet) North of the Southwest Corner of said forty (40) acre tract and running thence North 24 rods (396 feet); thence East 80 rods (1320 feet); thence South 24 rods (396 feet); thence West 80 rods (1320 feet) to the Point of Beginning and containing 12.00 acres, more or less, subject to easements and rights of way of record. SIGNED FOR IDENTIFICATION: SELLER: (l/ 14J . /a-r}s �119 Carolyn I. Hickson Date / BUYER: Fred Hanna, Mayor Date