HomeMy WebLinkAbout79-99 RESOLUTION•
•
RESOLUTION NO 79-99
A RESOLUTION AUTHORIZING THE MAYOR AND CITY
CLERK TO EXECUTE AN OFFER AND ACCEPTANCE
AGREEMENT IN THE AMOUNT OF $16,000, PLUS
ASSOCIATED CLOSING COSTS WITH MARY WILLIAMS AND
LINDA J. WILLIAMS TO PURCHASE PROPERTY LOCATED
AT 151 EAST MOUNTAIN STREET FOR FUTURE EXPANSION
OF THE YVONNE RICHARDSON COMMUNITY CENTER.
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE,
ARKANSAS•
Section 1. That the City Council hereby authorizes the Mayor and City Clerk to execute
an Offer and Acceptance Agreement in the amount of $16,000, plus associated closing costs to
purchase property located at 151 East Mountain Street for future expansion of the Yvonne
Richardson Community Center. A copy of the agreement is attached hereto marked Exhibit "A" and
made a part hereof.
,t r+$sFi,D AND APPROVED this 15`s day of June , 1999.
• ret
*k, f+� ` ' { 5 APPROVE
.
y: AS,„
B Heather Woodruff, City C�1'efk
By.
L
ed Hanna, Mayor
•
•
OFFER AND ACCEPTANCE CONTRACT
•
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 from Mary Williams and Linda J. Woods, hereinafter referred to as
Sellers:
A part of the NW/4 of the SW/4 of Section 15, T -16-N, R -30-W, of the 5th P.M.,
County of Washington, State of Arkansas, and being more particularly described
as follows, to wit: Beginning at a point which is 555 feet East and 266 feet South
of the N/W Comer of the SW/4 of said Section 15; thence East 44.5 feet; thence
South 99 feet; thence West 44.5 feet; thence North 99 feet to the point of
beginning.
2. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property
at closing, the total and cash payment of $16,000.
3. Contingencies/Conditions: This offer of purchase is contingent upon approval by the
City Council of the City of Fayetteville, Arkansas. If title requirements are not fulfilled or
the Seller fails to fulfill any obligations under this contract, this contract becomes null and
void. 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 Seller may assert legal or
equitable rights which he or she may have because of breach of this contract. This offer is
contingent on the condition that no tenant will occupy or have the right to occupy at the
time of closing.
4. Conveyance: 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.
Abstract or Title Insurance: The Seller shall furnish a policy of title insurance in the
amount of the purchase price from a title insurance company as selected by the Buyer.
Buyer shall pay for the costs of the title insurance upon closing. Seller warrants that only
the signature(s) set forth below are required to transfer legal title to the property.
Buyers Right To Survey Property: Seller agrees to allow Buyer to survey the property
if Buyer so desires aiad at Buyer's expense. 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. Prorations: Taxes and special assessments due on or before closing shall be paid by the
Seller. Insurance, general taxes, ad valorem taxes, and special assessments payments shall
be prorated as of closing.
OFFER AND ACCEPTANCE CONTRACT
Page 2 of 3
8. Closing: The closing date is designated to be July 1, 1999. If such date of closing falls on
a weekend or holiday, it will be held the following working day.
9. Possession: Possession of the property shall be delivered to the Buyer on the date of
closing.
10. Fixtures and Attached Equipment/Condition of Property: Unless specifically excluded
herein, all fixtures, improvements and attached equipment are included in the purchase
price.
11. Risk of Loss: 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.
12. Inspections and Repairs: Buyer has inspected the property and is not relying upon any
warranties, representations, or statements by Seller or Seller's agent(s) as to age or
condition of improvements, other than those specified herein.
13. Contract Limits: 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.
14. Expiration: This contract expires, if not accepted on or before June 4, 1999.
15. NOTICE: BUYER ASSERTS AND SELLER HEREBY ACKNOWLEDGES
THAT THIS OFFER IS EXPRESSLY CONTINGENT UPON
THE APPROVAL OF THIS OFFER OF PURCHASE BY THE
CITY OF FAYETTEVILLE CITY COUNCIL AND THAT THE
FAILURE TO SO APPROVE WILL MAKE ALL PORTIONS
OF THIS OFFER NULL AND VOID
O11,ER AND ACCEPTANCE CONTRACT
Page 3 of 3
SELLER:
C ,%Py
Mar1liams
Off,;(1-Cx'
j
Linda J. Woods
AGENT OR WITNESS:
.414liqC(\
BUYER:
City of Fayetteville, Arkansas,
a municipal corporation
76(444 -14 --
Fred Hanna, Mayor
Ste'
eather Woodruff, City Clerk
Date: /%%
31c9 6/9
Date:
Date:
Date:
/99
021,9
Date: /f/l9
(SEAL)
•
•
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENTAL CORRESPONDENCE
To: Jan Simco, Community Development
From: Heather Woodruff, City Clerk
Date: June 22, 1999
Attached is a copy of the resolution approving the offer and acceptance agreement for property
located at 151 E Mountain Street. The original will be microfilmed and filed with the City
Clerk.
cc. Ed Connell, Land Agent
X Agenda Request
Contract Review
Grant Review
For the City Council Meeting of
STAFF REVIEW FORM
June 15, 1999
79-9,
MICROFILMED
From:
Jan Simco
Name
Community Development
Division
Admin Services
Department
ACTION REQUESTED:
Consideration of an Offer and Acceptance Contract to acquire property located at 151 E. Mountain Street
for future expansion of the Yvonne Richardson Community Center.
COST TO THE CITY:
$16,000
Cost of this request
2180 4990 5390 24
Account Number
99003
Project Number
$59,000
Project Budget
$3,095
Funds spent to date
$55,905
Remaining Budget
Community Ctr Impv
Category/Project Name
Public Facilities & Impv
Program Name
Community Development
Fund
BUDG REVIEW:
Budgeted Item
Budget Coortj ator
A (en
Budget Adjustment Attached
Administrative Services Director
CONTRACT/G
/L SE RE}2IEW: Grantor Agency:
Acco in
_ Ade /:i
' ity s ttome r -
Date
Date
Purchasing Manager Date
Internal Auditor
Date
ADA Coordinator
Date
STAFF RECOMMENDATION:
Staff requests approval of the Contract
:sem? 7 99
Division Head Date
Department Director Date
A� Svcs Director Date
Mayor
Date
FAYETTEVILLE
THE CITY OF FAYETTEVILLE. ARKANSAS
DEPARTMENTAL CORRESPONDENCE
TO: Fayetteville City Council
FROM: Kevin Crosson, Administrative Services Director jj[jp
DATE: May 27, 1999
SUBJECT: Offer and Acceptance Contract - Community Development Division
The Offer and Acceptance Contract submitted for your consideration is to acquire property located at 151
East Mountain, Fayetteville. The property will be used for future expansion of the Yvonne Richardson
Community Center. The property includes one lot that is 44.5 ft x 99 ft and has one older residential
structure. The structure is in poor condition and will be removed.
Belote & Associates completed an appraisal estimating Fair Market Value to be $16,000 and that is the
amount reflected in the Contract. A copy of the appraisal is attached.
BUDGET CONSIDERATIONS
The expansion of the Yvonne Richardson Community Center is included in the 1999 Capital Improvements
Program and Community Development Block Grant funds in the amount of $59,000 are allocated this year
as the first "installment" in the 5 -year plan. The Community Development budget also has funds allocated
for demolition and removal of dilapidated structures.
STAFF RECOMMENDATION
A map is attached that shows the Community Center and surrounding area. Staff recommends approval of
the Contract because acquisition of this property will nearly complete City ownership of a parcel large
enough to accommodate an expansion. The lot adjoining the subject property on the east may also be
available in the near future.
Please let me know if you have questions or if 1 can provide additional information. Thanks for your
attention to this matter.
Attachments: Offer and Acceptance Contract (copy)
Appraisal (copy)
Map
OFFER AND ACCEPTANCE CONTRACT
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 from Mary Williams and Linda J. Woods, hereinafter referred to as
Sellers:
A part of the NW/4 of the SW/4 of Section 15, T -16-N, R -30-W, of the 5th P.M.,
County of Washington, State of Arkansas, and being more particularly described
as follows, to wit: Beginning at a point which is 555 feet East and 266 feet South
of the N/W Corner of the SW/4 of said Section 15; thence East 44.5 feet; thence
South 99 feet; thence West 44.5 feet; thence North 99 feet to the point of
beginning.
2. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property
at closing, the total and cash payment of 516,000.
3. Contingencies/Conditions: This offer of purchase is contingent upon approval by the
City Council of the City of Fayetteville, Arkansas. If title requirements are not fulfilled or
the Seller fails to fulfill any obligations under this contract, this contract becomes null and
void. 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 Seller may assert legal or
equitable rights which he or she may have because of breach of this contract. This offer is
contingent on the condition that no tenant will occupy or have the right to occupy at the
time of closing.
Conveyance: 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.
Abstract or Title Insurance: The Seller shall furnish a policy of title insurance in the
amount of the purchase price from a title insurance company as selected by the Buyer.
Buyer shall pay for the costs of the title insurance upon closing. Seller warrants that only
the signature(s) set forth below are required to transfer legal title to the property.
Buyers Right To Survey Property: Seller agrees to allow Buyer to survey the property
if Buyer so desires and at Buyer's expense. 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. Prorations: Taxes and special assessments due on or before closing shall be paid by the
Seller. Insurance, general taxes, ad valorem taxes, and special assessments payments shall
be prorated as of closing.
OFFER AND ACCEPTANCE CONTRACT
Page 2 of 3
Closing: The closing date is designated to be July 1, 1999. If such date of closing falls on
a weekend or holiday, it will be held the following working day.
9. Possession: Possession of the property shall be delivered to the Buyer on the date of
closing.
10. Fixtures and Attached Equipment/Condition of Property: Unless specifically excluded
herein, all fixtures, improvements and attached equipment are included in the purchase
price.
11. Risk of Loss: 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.
12. Inspections and Repairs: Buyer has inspected the property and is not relying upon any
warranties, representations, or statements by Seller or Seller's agent(s) as to age or
condition of improvements, other than those specified herein.
13. Contract Limits: 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.
14. Expiration: This contract expires, if not accepted on or before June 4, 1999.
15. NOTICE: BUYER ASSERTS AND SELLER HEREBY ACKNOWLEDGES
THAT THIS OFFER IS EXPRESSLY CONTINGENT UPON
THE APPROVAL OF THIS OFFER OF PURCHASE BY 1HL
CITY OF FAYETTEVILLE CITY COUNCIL AND THAT THE
FAILURE TO SO APPROVE WILL MAKE ALL PORTIONS
OF THIS OFFER NULL AND VOID
OFFER AND ACCEPTANCE CONTRACT
Page 3 of 3
SELLER:
Mary lia s
(7Z -(1 -
Linda J. Woods
AGENT OR WITNESS:
BUYER:
Date:
Date:
3/96/99
)44A--•- Date: ' /97
City of Fayetteville, Arkansas,
a municipal corporation
Fred Hanna, Mayor
Heather Woodruff, City Clerk
Date:
Date:
(SEAL)
70
SUBJECT PROPERTY
MOUNTAIN
40 r
i
• 7;
•
s
4
ROCK
.12
1;1 1
•
3
8.;
9;
10
P
n
(File No 93590531 Pao #Zl
Borrower Cary al Fayetteville
Appraisal conforms to ane of the folio ng definitions:
Complete Appraisal
The act or process of estimating value, or an estimate of value, performed without Invoking the
Departure Provision.
Limited Appraisal
The act or process of estimating value, or an estimation of value, pertormed under and resulting
from Invoking the Departure Provision.
This Report is one of the following types:
File No. 93259053
Pmpedy Addjess 151 Mountain
Cy Fayettevipe
County Washington
Slate AR
Zip Code 72701
Leri CM of Fayetteville
APPRAISAL AND REPORT IDENTIFICATION
This
Scl
❑
Appraisal conforms to ane of the folio ng definitions:
Complete Appraisal
The act or process of estimating value, or an estimate of value, performed without Invoking the
Departure Provision.
Limited Appraisal
The act or process of estimating value, or an estimation of value, pertormed under and resulting
from Invoking the Departure Provision.
This Report is one of the following types:
• Self Contained Report
A written report prepared under Standards Rule 2-2(A) al a complete or limited appraisal performed
under Standard 1.
`W' Summary Report
A written report prepared Under Standards Rule 2-2(B) of a complete or limited appraisal performed
under Standard 1.
n Restricted Report
A written report prepared under Standards Rule 2-2(C) of a complete or Ilmited appraisal performed
under Standard 1.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-2, 1-3, 1-4, plus any USPAP-related issues requiring disclosure:
Belale A Assocides
Fpm 101 —'TOTAL 2000101 Windows' appl..td soTvxe by a N mode.' — I -BCO ALAtdOOE
Beiote A Associates
NTIAL APPRAISAL REPORT
Fitz Na. 932590531 Piga ..3
File No. 93259053
rRICCIry ueen Ip!rvn
Piated/ Address 151 Mountain Cly Fayeneville Stale AR Zip Code 72701
Legal Description PT Lot 22 SW 44.5 X 99 15-16-30 County Washington
Assessor s Parcel Ho. 765-12799-000 Tarr Year 1998 R.E. Taxes $ 200.07 Soecial Assessments S 0.00
u Borrower City of Fayeneville Current Owner Mary Wood & Linda J Occupant:
n Owner 1 Tenant M
Vacant
I I PUD I 1 Condom (HUDNA only) HOA $ N/A /1.1a.
PropeM ms owned - Fee. Sime, 1 I Le Id Project Tv pe min
welts
0 fleigborhood or Project Name Country Court Platt hlap Reference SMSA Cereus Tract 108
Sale Price $ N/A Dare of Sale N/A Descnpeon and $ amount of loan cnaraeycancessians la be paid by seller N/A
Lerxer/Cknt City of Fayetteville Address
Appraiser Craig Campbell Staff Appraiser Address P.O. Box 389, Fayetteville„ AR 72702
Location
Burd up
LI man iIA Suburban 1 1 Rural
❑ Over 75% raj 25-75% ❑ Under 25%
Predominant
occupancy
Single
$(000)
limey dowing
(yrs)
Pressm land Lae %
One family 70
Land use change
Not likely ❑Likely
Growth rale MI
Rapid lNI Stable ❑ Slow
lg Owner
70 Low 0
2-4 famly
❑ In process
Property values ❑
Increasing ft] Stable ❑ Oecdnirg
❑ Tenant
120 High 75+
Multi -family 10
To:
Demandsupp ❑ Shodage i,, In balance ❑ Over supply
hJ Vacant i3.5%)
- ... i
Predominant I..
Commeaial 10
/
Madetir lime I Uhler 3 mos. IX 3-6 mos. fl Over 6 mos.
rl Vac (over 5%)
80 50
vacant 10
Note: Race and the racial composition M the neighborhood are not appraisal factors.
NegMmhood boundaries and clwaclerisles: North is 71 B, South is Rock Street, east is Willow Street , and west is 71 B.
rti3 Factors lltd affect the market:tdiy of the properties in the neighborhood (proximity to employment and amenities, employm.nt stability, appeal to market, etc.):
Economy in northwest Arkansas is excellent. The population growing rate is above average. Sources of employment are the poultry and
6
Strucking industries and numerous manufacturing businesses. The unemployment rate is below 3 b, This styte of home has good market
13 appeal and the neighborhood is desirable.
Market conditions in the subject neighborhood) (including support tor the above conclusions related to the (rend of property values, demanusupply, and marketing time
such as dda on compelerve properties tot sale In the neighborhood, description of the prevalence of socks and financing concessions, etc.):
Market is fairly active at present with buyers showing good interest. Loans are readily available with good competition among lenders. ARM
rales are 6.125% plus points. Conventional loan rates are 6.5°A plus points. FHA and VA loans are atso available.
EProject Informationfor PUDN (11 applicable) -- Is the devebper/builder in control of the Horne Owners' Association (HOA)?
EApproximate total number of units in the subject project Approdmate total number of units for sale in the subject
(
project
1 Yes �J No
Describe common elements and recreational facilities:
Dimensions 44.9 X 99
Topography Nearty Level
Size .10 Ac mol
Ste area .10 Ac mol Corner Lot
•
Yes IX
No
Shape Rectangular
Specie zoning classification and description R-1
Drainage Adequate
Zoning compliance El Legal
Hirhest & best use as improved: NI
1
Legal nonconforming (Grandfathered use)
Present use n Other use (exp lain)
❑
Illegal
1
No zoning
View Average
Landscaping Average
Utilities Public Olher
Cdr Electrical/ El
011 -site Improvements Type Public
Street Asphalt a
Private
•
Dweway Surface Asphalt
Apparent easements Typical utilities
" Gas 6I
Curb/gutter Concrete 0 MI
FEMA Sari) Flcod Hazard Area in ves Ni No
FEMA Zone X Map Dale 9/18/91
Water iL_
Sidewalk Concrete N1 ❑
Sanitary sewer x
Street lights Merc t7
❑
FEMA Map No. 0514 3C0092 C
Storm sewer IX
Alley None
—1
—1
Comments (apparent adverse easements, encroachments, special assessments, slide areas, illegal or legal nancontarmi g zoning use, etc.): Typical of other
sites in the area. There were no problems with drainage, etc. observed at the time of inspection.
ueNERAL OESCRIPTION
No. of UnMs 1
EXTERIOR DESCRIPTION
Foundation Rack
FOUNOATION
Slab no
BASEMENT
Area Sq. Ft. None
INSULATION
Roof
M
tlo. of Slori s 1
Exterior Walls Wood
Crawl Space yes
% Finished N/A
Ceiling Unob
NJ
Type (flet/Ah.) Detached
Roof Surface Camp/Shing)
Basement None
Ceiling N/A
Walls Unob CQ
Design (SIyI 1 Cottage
Gutters & Dwnspts. None
Sump Pump None
Walls N/A
Floor il I
Existing/Pro used Existing
Window Type Alm/Sq1/Pne
Dampness None
Floor N/A
None ❑
Age (Ws.) 44
Storm/Screens Screens
Settlement No
Outside Entry NI/A
Unknown ❑
._so
Aq
(Yrs.) 44
6lamdactured House No
Infestation Nane
wBethke
ROOMS
Foyer
Living
Dining
Kitchen
Den
1miJ Rm.
Rec. Rm.
Bedrooms
# Baths
Laundry
01 er
Area Sq. Ft.
Basement
None
g
a Level)
1
1
2
1
1
988
Li. L 12
Finished are. ebovegade contains: 4 Rooms; 2 Bedroam(s); 1 Batbs1 988 Spare Feet of Gross Living Area
INTERIOR Male As/Condition
Floors CrpUHdWd/Fair
HEATING
Type Space
KITCHEN EQUIP.
Rehlgeratar ❑
Range/Oven X
Disposal ❑
Dishwasher ❑
Fan/Hood
Minow:we ❑
Washer/Dryer 1 1
ATTIC
None 0
Stairs ❑
Drop Stet IN
Scuttle ❑
Floor ❑
Heated I 1
Finished 1 1
AMENITIES
fir places) et •
CAR STORAGE:
Nona ❑
Garage # at cars
Attached
Fuel Gas
Pa'o ❑
Walls ShRkMVdPantlFair
Ce k
Condition Avg
TriMFineh Stn Wd/Fair
Detached
Pa ch >d
Bath Flour Vinyl/Fair
COOLING Nane
Central N/A
Fence I -I
Britt -In
Bath Wainscot Wall Board/Fair
Other None
Pool I I
Carport
Dams RsPnlPnt/Fair
1 1
Drhew:y
Condition N/A
Fair quality Inn
Additkrnd Matures (spec LJ en my efficient Meow, etc.): N/A
Condemn al the improvements. depreciation (MaiseaI, functional and rehired), repairs needed, quality al construction, remodelingraddtians, etc.: There were no
functional or physical Inadequacies noted. Physical depreciation due to deferred maintenance. Appraiser is unworn of further
inspections -termite survey radon etc.
Anherse environmental condemns (such as. bur not limited lo. hazardous wastes, toxic substances. etc.) present in the improvements. on the sere, or in the
immediate vicinity of the subject property,: Appraiser is not nn expert in environmental conditions however none apparent upon Inspection
Freddie Ma: Form i0 r59]
PAGE I OF 2
Fannie, Mae Form 1001 413
NTIAL APPRAISAL REPORT
File Flo. 91259053Lage #4
File Na. 93259053
a11331911 o«,on _ - -_- _ -
ESTIMATED SITE VALUE Ac mol = $ 10,000
Comments on Cost Approach (such as. source of cost estimate, site value,
square foot calculation and far HUD. VA and FmHA, the estimated remaining
economic Be of the piopedy)' Cost data used is from local builders
_. ,10
ESTIMATED REPRODUCTION COST -NEW -OF IMPROVEMENTS:
Dwetn9 938 Sq. FL @S 25.15 = $ 24,848
and Marshall 8 Swift Residential Cost Handbook adjusted for
Sq. Ft. @s =
the local area. The subject appears to be at the end of its
/CvPor/Appbance = 2,000
economic age and is doubtful that it meets city codes.
Ga ageCa/pod Sq. R. @$
Depreciation is calculated as follows: 50 years effective age
Total Estimated Cost New = $ 29848
divided by 60 years economic life equals 80% depreciation
_ Less Physical Functional
Depreciation 196881
Erternal
] _$ 19,688
(rounded)
Depreciated Valve of Improvements =S 7,160
'As -s' Value of Site Improvements Land$cap/Drive =$ 500
INDICATED VALUE BY COST APPROACH =$ 17,660
ITEM
SUBJECT
COMPARABLE Na 1
COMPARABLE NO. 2
COMPARABLE NO.3
151 Mountain
Address Fayetteville AR
940 Douglas
Fayetteville
208 Adobe
Fayetteville
1442 Crest wood Drive
Fayetteville
PioximM to Sabha 1- . -"
2 mites northwest
2.5 miles north
2 miles east
Sales Price
$ N/A
$ a::
Inspection
County Reeds
DESCRIPTION
_.._..
$ 4E1 60
MLS#98-72475
County Records
OESCRIPBON
Conventional
None
$ 76,500
rrfi -. • -. _ .
+(-)S @lust.
- .-'r
$ 52,40
MISS/ 98-55217
County Records
DESCRIPTION
Conventional
None
$ 42500
-11
+(-)$Adjust.
",. "$ 8Q000
$ 50.G0 i.
MLS#98-13589
County Records
DESCRIPTION : 4(-I$ Admit.
Conventional
None
Price/Cross LMirn Are.
Oath anVor
Ve,4icallon Source
VALUE AOIUStMENTS
Sales or Financing
Concessions
'
-
Dale of Sa/e/Time
"
5/12/98
11/24/98
12/15/98
Location
Average
Average
Fee Simple
Irregular
Average
BrkWNAvg
Average
Fee Simple
.26 Ac mol
Average
CottNVd/Avg
Average
Fee Simple
.41 Ac mol
Average
BrkWd/Avg
Average
A41/E20
-10 000
-32,200
Leasehold/Fee Simple
Fee Simple
. 10 An mot
Site
View
Average
CottM/d/Fair
Design and Appeal
On:lrty of Construction
Fair
A44/E50
Average -10,000
A31/E16 -33,660
Average -10900
A25/E10 -16900
Age
Condition
Average
Total : Bdrms: Baths
Average
Total Bdrms• Baths :
Average
Total :Hints: Baths ;
Average
Total:Bdrms: Baths :
Above Grade
Room Count
Gross LMirg Area
7: 3: 1 :
4 j 2. 1 i
4: 2: 1
7 i 4• 1 •
1 579 Sq. FL• -14775
811 Sq. FI. i +4,425
988 Sq. Ft.
1,574 Sq. FL: -14,650
Basement & Finished
None
N/A
None
N/A
None
N/A
None
N/A
Rooms Below Grade
Functional Utility
Average
Average
Average
Average
Heating/Cooling
Space/None
CH/CA -2,000
CH/CA -2,000
CH/CA -2000
Energy Efficient Items
Typical
Typical
Typical
Typical
Goraf4Carpart
None
None
1 Car Carport -1,500
2 Car Garage -1 500
Porch, Patio, Deck.
Fireplace(s), etc.
Cover Proch
None
CvdPCNPatio -1900
None
CvdPch
None
CvdPcNDeck -1,500
None
Fence Pool, etc.
Nene
None
None
None
'
Ilei Adi. (total)
j- + t1 - 5 61 310
7 . lP' - 5 25,975
El + 7
- i$ 61,975
Adjusted Sales Price
of Comparable
I
;5 15103
$ 16,525
$ 18,025
Comments an Sales Com anion (including the sub ect property's compatibility to the neighborhood, etc.): These sales corn arisons are considered to be the
most recent, similar sales available. All were adjusted far quality of construction, age, gross living area, heating and cooling. Additional
adjustments were required and are as follows: Sale 2 & 3 far car storage.
ITEM
SUBJECT
COMPARABLE NO.1
COMPARABLE NO.2
COMPARABLE NO.3
Date, Price and Data
Source. for prim sales
Whin year of appraisal
Na Sales
12 mo. prev.
CN Records
No Sales
12 Mo Prev
County Records
No Sales
12 Mo Prev
County Records
No Sales
12 Mo Prev
County Records
Analysis of any current ag eement of sale, option, o listing of subject properly and anafyss of a y prior sales of subject and comparables w bin one year of the date of appraisal:
N/A
INDICATED VALUE BY SALES COMPARISON APPROACH $ 16,000
INDICATEDVALUE BY INCOME APPROACH Id Applicable) Esti led Markel Rant $ N/A /Mo. x Gross Rent Multiplier N/A = $ N/A
This appraisal is made
Connors al Appraisal Appraisal
k] as is'
assumes
LI
subject to the repairs, alterations, inspections al candnlons listed below
all mechanical equipment including electrical, plumbing heating,
U
subject to completion per plans & specifications,
AC, and appliances are in working
order.
Find RecorclLatian: The sales comparison is relied upon for the final estimate of value. The cost approach lends good support. The income
approach is not considered applicable as the subject is located in a predominantly owner occupied area.
The purpose of this appraisal is lo estimate the market value at the real property that is the subject of this report, based on the above conditions and the certification, contingent
and limiting conddlons, and market value definition INK ;ue staled in the attached Freddie Mac Form 439/FNMA farm 1004B (Revised 6/93 .
I(WE) ESTIMATE THE MARKET VALUE, AS DEFINED, OF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT, AS OF 3/22/99
(WHICH IS TH DATE of INS
CTION ANO THE EFFECTIVE DATE OF THIS REPORT)TO BE $' 16,000 .:-.
APPRAISE I_JE1�,,
SkyLnille
/ SUPERVI
AL,or Signator
RY AP ISE{ LY IF REO )�V y/
' r+�[ IJ�Diol I jDII riot
I / f ( ('
Mune Crmg Camp/ell tuff pproiser Nimm Nikki Belote Brady •- , - Inspect Property
Date Report Signed 3/29/99 Dale Report Sigrvjl 3/29/q9 • , . :
Slaw Certification # Stahl AR Stale Ceditcatk n'X CGO756 Stade AR
Or Slate license M State Or Stain (theme M? 1, , . . . Stale
Nigher Alec Form i0 &93
PAGE 2 OF 2
Form tlA2 --TOTAL 2000 tor ' Windows' appraisal software by d Li mode, Inca -1# I.BOWMUfi100E
Fannie Fdae Form 1001 6-93
Fie No 97590531 Pape >il
MULTI-PURPOSE SUPPLEMENTAL ADDENDUM
FOR FEDERALLY RELATED TRANSACTIONS
Relate 8 Associates
Bonawe,/Ctiert City of Fayetteville
• j T/,PURPOSE.&rFFUNCTIO�- OF-APPRAISALtarey ,, ,¢'n„
„.
Property Address 151 Mountain
The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The luncheon A the appraisal 6 to assist the above named
Leaks b evaluating the subject property for lending purposes. This 6 a fekragy related transaction
Cry Fayetteville
Court/ Washington
Stale
AR
Zip Code 72701
tenter City of Fayetteville
• EXTENT OF APPRAISAL PROCESS M=;:
This Mu1FPutpose Supplemental Addendum for Federally Related Tramxtbre was designed to psovbe Be appraiser well a convenient way to comply with the current
appraisal standards aM requirements al the Federal Oeposi Imm :cc Corporation (FDIC), ger Office al the Comptroller of Currency (OCC), The Office of Tinel
Supervision cDIS). the Resobtbn Trust Corporation (RTC), and the Federal Reserve.
This Muttl•Purposa Supplemental Addendum is lar use with any appraisal. Only those
statements which have been checked by the appraiser apply to the property being app aped.
• j T/,PURPOSE.&rFFUNCTIO�- OF-APPRAISALtarey ,, ,¢'n„
„.
The purpose of the appraisal is to estimate the market value of the subject property as defined herein. The luncheon A the appraisal 6 to assist the above named
Leaks b evaluating the subject property for lending purposes. This 6 a fekragy related transaction
• EXTENT OF APPRAISAL PROCESS M=;:
y ry, ;, ♦ <4v.
I�!i*t'�"
4a The appraisal S based on the kdormalbn gathered by the appraiser from public records, other Wadded sources, inspectional the subject prop fry aM
neighborhood, and selection of comparable sales within the subject market area Tin original source of the comparables is shown in the Data Source seclbn
of the market gild long web Int source of coShmalbrt 8 available. The original source 6 presented lest. The sources aM data ale comber d retable.
When conflicting Intormation was provkled, the source deemed most retable hos been used. Data believed to be unreliable was not Ncluded in the report nor
used as a basis for the value conclusion.
VC) The Repuoductbn Cost is based on Marshal 8 Swift Residental Cost Handbook and file data
suppkmemed by the appraisers knowkikge al the local market.
NI Physical depreciation is based on the estimated effective age of the subject property. functlorsol ardor eidernal depreciation, 4 present. 6 specifically
addressed in the appraisal report ar other addenda In estimating the site value, the appraiser has told on personal knowledge of the local market. This
knowledge 6 baud on prior and/or current analysis of see sales and/or abstraction of see values from Saks of improved properties.
N The subject property S boated ban area of primarily owner -occupied single family resberces aM the Income Approach s not considered to be meaningful.
For this reason the Income Approach was not used. .
The Estimated Market Rent and Grass Rem Mudiptier utilized in the Income Approach ase based on the appraiser's knowledge of the subject market oma.
The rental knowledge is based on prior ower current rental rate surveys of residential properties. The Gross Rent Multiples is based on per and/or current
analysis of prices aM market rates los residential properties.
• for income producing properties, actual rents, vacancies and expenses have been reported and analyzed. They have been used to project future rents,
vacancies and demes.
(]t., SUBJECT -PROPERTY OFFERING INFORMATION,:::-›:
According to the owner the subject property:
hatngLbec&otlmed for sale in the past 30 days.
• 6-0uentlyotered lar sale for S
MI wacnftered for sale within the past 30 days for S
❑ Offering information wa&aonskered in the final reconciliation of value.
Offering information wasn4Lconsidersd In the final reconciliation of value.
❑ Offering it ormation wa&ntavailable. The reasons for unavailability and the steps taken by the appraiser are explained later in this addendum.
_<) SALES HISTORY OF SUBJECT PROPERTY
According to County Records the subject property:
PI h s noittansteired in the past fweke months.
• has.Iranslerred in the past twelve months.
II All prior sales which have occurred in the past Iwese months are listed below and reconciled to the appraised value, either in the body of the report or
in the addenda.
Dane Sale. Price Document w Seller Buyer
: -:•m }.'H:i$l °'a' 1.�...PpS..s' -, i
(*j FEMA FLOOD HAZARD DATA - Z
Ni Subject Propety s not located In a FEMA Special Flood Hazard Area.
(I Stalled property 6 kindled N a FEMA Spectd Flood hazard Area.
Zona PIMA ',Unit Anal w Map Data Mama al Community
X 05143C0002 C 9/18/91 Fayetteville
1 1 The community docs not pmlitip;dc In tm National Flood Insurance Prary:vn.
i}:1 The community docs participate in the finking Flood Imnnuce Program.
i'-‘1 II 6 coveted by a retukp progcun.
I 1 Iib covered by an emergency plognue.
Page I a12
Form SIPA —'TOTAL 2000 lot Wuxlows' appraisal sonwwue by a 6 mak, inc. — I.800-AtAf.1OfE
[File No. 932590531 Page #6
Pane 2 of 2
[aim MPA —'TOTAL 2000 fur Windows' appraisal software by a Li made. inc. — 1-600-ALAMODE
'' CURRENT -SALES CONTRACT-
'J The subject property s cpdt4LY.Pdt under cottxi.
❑ The cannel ardor esctew usbuclbre w rullptueadabklQLLevMW. The unavailability of the contract is explained bier in the addenda section.
❑ Re contract and'ar escrow isbucdors welelCYSwdd. The la0owilg summarizes (Pe contract:
Contact Date Amednent pat. Contract Price Seller
❑
❑
The Carers! indicated that personal properly wadosAirCk tied it de sale.
The indicated that parmnal property wasltNadd. f corsisted of
coNtxt
Estimated cortSory values $
0 Personal (=WO Wag balicku ed in the final value estimate.
❑ Personal Waperty wainektded in IM Mal value estimate.
❑ The cotxt indicated no Minh° Caner/bons or other inceSNes.
• The indicated Meld/awing concessions or Incentives:
co,trxt
Ira b concessions or incentives exist. the comparabki were checked for similar concessions and appropriate adjustments Wert made. d applicable, so
that the final value conclusion is in compliance with the Market Value defined herein.
.,.
... ,: 'S iitidnoi« preoe6/tMiYma t,:.arn.Nredwww. -•:F .,. ., ._. �
MARKET OVERVIEW - hTludaen implant&of wean Turkel aoMkbtrend,. ne end °
3-6 months is corskleled a reasonable marketing period for the subject propmty based on sales of properties in this market over the
past 12 months.
xON' ADDITIONAL; CERTIFICATION i
-' <` '1" •,�
,__
`' _ ...�' ` ` +. =f
The Appraiser cedeies and agrees that:
(1) The analyses, opinions and conclusions were devebped. and Itis report was prepared. 1 codormty with the Uniform Standards of Professional
Appraisal Practice ('USPAP'), except Thal the Departure Provsbn of the USPAP does no apply.
(2) Their compensation is rod contingent upon the Iepodog of predetermined value or &rection in value that favors the cause of the spent. the amount
N the value estimate, the aflainneN of a stipulated result, Of the occurrence of a subsequent event,
(3) This appraisal assgnment was not based on a requested minimum valuatioh a specfc valuation, or the approval of a ban.
N•. -
`(i.<-) < ADDITIONAL' (ENtlIRONMENTAL)LIMITIND:CONDITIONS
y < :
•
<
, <w
•.,.rq
< s c•{r 1
The value estimated is based an the assumption that the WopeM is nal negatively affected by the expterce of hazardous substances or detrimental
embomreNal coMtions unless otherwise stated in tit report. The appraiser s not an aped in the dentrtcalian of hazardous substances or detrimental
environmental canddions. The appraiser's routine inspection of and Nuuies about the subject prop M did not devebp any information that indicated
any apparent signdtant hazardous substances or detrimental environmental conddbrs whkh would affect the property negatively unless otherwise stated
hi this report. 1l b possek that tests and k- peclbns made by a quaffed hazardous substance and mironmental expert would reveal the existence al
hazardous substances or detrimental erwimnmental conditions on or around the property That would negatively affect is value.
❑ ADDITIONAL COMMENTS ;: A
P, APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION
ellir l
Appraisers Signature
M '
a. 4 . Effective Date 322/99 Dale Prepared 3/29/99
Appraises Name (print) Crai• earn • b:l Sta A. •raiser Phone eft 1501)521-6338
Stale
•
Lkense
•
Ceddicatlon # Tax ID # 71-0748157
L CO-SIGNING APPRAISER'S CERTIFICATION -. :. • - - ,
EI The co-signing appraiser las psisonallyjjDpecled the subject propeity, bath inside and out and has mak an ederim inspection of all comparable sales
fisted in the report. The repoit was prepared by the appraiser un dei direct supervision of the co-signing appraiser. The co-signing appraise; accepts
responsibility for the contents of the report including the value conclusions and the Smiting conditions. and codrms that the cerlikalbns appal
fully In the co -storing appraiser.
❑ The co-signing appraiser hu. not personalblrsspected the iNabr of the subject property and: .
❑ hatttOtilsoKled the exterior of the subject property and all comparable sales listed in the 'upon. -
MI has impacted the enerbr of the subject prapedy and all compliable sales (sled in the repoit. '
11l The report was prepared by the appraiser unlet tit [t Supervision of the co-signing appraiser. The co-signing appraiser accepts resporsibilty for the
contents of the report, including the valine conchtsions and the pending conddions, and cosirms that Ihe ceddkatbns apply fully to the co-signing
appraiser well the exception N the cmekatbn :egardug physical inspections. The ;drove describes the level of inspection performed by the
co-signing appraiser.
n The co-signing appmsei s level of inspection. involvement in IM appraisal process and certification are covered elsewhere ii the addends section
of this :ylprlsd.
j CO-SIGNING APPR•ISER'S 3 GNATURE & LICENSE/CERTIFICATION
Cipping ,(�/f;��! ,,J
Appraise' s Sgnameu-SL'S�CCL4: '� la 1 Effective Pile 322199 Oath Pep:vert 329199
Co -Signing Appraiser Name (print) Nikki Belot° Bra •y Phone # (501) 521-6338
_
State AR 11 Lkense 1:i] Ceddkation it CG0756 to ID # 71-0748157
Pane 2 of 2
[aim MPA —'TOTAL 2000 fur Windows' appraisal software by a Li made. inc. — 1-600-ALAMODE
[id No 972590571 Pine >7r
DEFINITION OF MARKET VALUE: The most probable eke which a property should brag in a competitive and open market under all coM3ians
iephslte to a fair sale, the buyer and serer, each acting prv&Nty, lei wledgeabN and assuming de price S not affected by undue stimulus. Impred in this
dation S the consummation al a sate as of a specified date and the passing of rile from sera to buyer under concretes whereby: (I) buyer and sews are
rypicaPy motivated; (2) both parties are wel intoned or wel arNsed and each actig in what he considers his own best retest; (3) a reasonable the b alowed
for emoswe in the open matt: (4) payment is made in lams al cash in U.S. dorm or in tens of financial anargements compatible thereto: and (5) the price
represents the norma consideration lot the properly said unaffected by specbl or crake financing or sates concessions' granted by smart associated with
the sae.
• Affustments to the comparabks must be ma for special or aealive financing or sales concessions. No adjustments are necessary
tor those costs which am nomad/ par by urian as a result m hada or taut n a maker area: these COSI, ace readiN Writable
since the serer pays these costs it vnuary al saes inactions. Special Or cmaaNe financing augments can be mare 10 the
comparable propend by comparsdns to financing lams offered by a third party nstmbrnl knder that S not already nvoNed in the
property or transaction. Any adjustment should not be cakubted an a mechantcal dollar far dorm cost of the financing or corcessbn
but the dollar amount of any adjustmerd should approximate the market's reaction Io the financing or concessions bad an the
appraisers judgement.
STATEMENT OF LIMITING CONDITIONS AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraisers cendkatbn that appears In Itw appraisal report Is subject to the following
conditions:
1. The appraiser win nal be respatsibe las matters of a legal nature that affect ether the propend beim appraised an the Idle to t The appraiser assumes that
the Idle S good and marketable and. dietetic, will not tender any opinions about the Nle. The propend is appraised on the bass of 4 berg under responsible
ownership.
2. The appraisv has provided a sketch in the apprahal report to stow approximate dimensions of the improvements and the sketch S included ordy to assist
the teats of the report In visualizing the property and understanding the appraiser's determination al its she.
3. The unman has crumbled the available fad maps tat are provided by the Federal Emergency Management Agency (or other data sources) and has mated
in the appraisal report whether the subject saes boated n an Identified Special Flood Hazard Area. Because the appraset is not a surveyos, he at she makes
no guarantees, express or implied, regarding OM delemiation.
4. The appraiser will not gine lestimany or appear n court because he or she made an appraisal at the properly in question, unless specitb arrangements to do
so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach al its highest and best use and the improvements at thein contributory value. These
separate valuations of the land and improvements must not be used in conjunction with any other appraisal and ate invalid if they are so used.
6. The appraiser has noted in the appraisal report any aterse caM4iors (such as, needed repairs, depreciation, the presence of hazadous wastes, toxic
substances, etc.) observed during the Inspection of the subject properly err that he or she became aware of during the normal research involved in performing
the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unappaient conditions of the property or
adverse environmental coMiions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and
has assumed that there are no such conditions and makes no guarantees or warranties, egress or impred, regarding the condition of the property. The
appraiser will no be responsible for any such conditions that do exist or for any ergireeteg or testing that might be required to discover whether such
conditions exist Because the appraise' s not an expel in the field of eovianmental hazards, the appraisal report must not be considered as an
environmental assessment of the popery.
7. The appraises obtained the i dormalbn, estimates. and opinions That were exy,essed in the appraisal report from sources that he or she corsidets to be
relabte and believes them la be Ime and cadent. The appase' does nal assume resporsibdiy lar the accuracy of such items that were furnished by other
parties.
B. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Ptactke.
9. The appraiser has based his at her appraisal tepori and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or
alterations on the assumption that completion of the Improvements will be performed In a workmanlike manner.
10. The appraiser oust provide his or her prior written consent before the lenderhlienl specified in the appraisal deport can distribute the appraisal report
(including conclusions about the prapeity value, the appraiser's Identify and professional designations, and references to any profession:4 appiaird
organizations of the firm with which the appraiser Is associated) to anyone other than the borrower: the mortgagee as 4s successors and assigns: the mortgage
tumor, consultants; potassium] apprlisal organizations: any stale or ederally approved financal Institution; or any depadmenl agency, or instiumenlality
at the United States or any state or the District of Columbia: except that the Mnd rclknt may dshibate the propetty description section of the report only to data
co/echo/1 or reporting sewbeist without hiving to obtain the appraisers prior mitten consent. The appraisers written cortsenl :uxl appmwd must also
be obtund before the app:asm can be conveyed by anyone to the public through advertising, pubic relations, news, salts, or other media.
Freske Mac Form 439 6.97
Page 1 of 2
Beate 5 Associates
Fane . Mx Form 1004B 6-93
File No 93259051
APPRAISER'S CERTIFICATION: TM Appraierceries and agrees that:
Pape >S
I. I blue reseacted the subject market aea and ham selected a mbimum of net recent sales al properties mast sundm and incarnate to the subject property
for coteieiatien in Me salts comparison analysis and bade male a dolls adjustment when appropriate to refect ate market reaction to Nose nems of sgndkan
vairbn d a significant atm in a Comparable property is superior to, or more favorable than the subject properly, 1 have made a rnegaive agastment to reduce
to adjusted saki prke al Oe comparable and, t a significant dem in a campaable property S aderbr to, or less favorable than the subject property, I have made
a posse adjustment to increase the adjusted sales price of the comparable.
2. I hive taken into consideration IM factors Ihd have an impact on value in my development at IM estimate of maiket value in the appraisal report. I have not
knowingly weltek any skpdkant kdormabn from the appraisal report and I believe, to the best of my knowledge. that al statements and information in the
appraisal roped are true and correct.
3. I stared in the appraisal report only my own personal unbiased, and professional analysis. opinions, and concbsiorn, whish am subject only to the contingent
and antirg COMNI0n9 specified m this loam.
4. 1 hive no present or prospeelrve interest In IM property SA b the subject to this repast, and 1 have no present or prospective personal Interest Or blas wth
respect to IM parlkipants in the transaction. I did not base, ether parlay or compktey, my analysts anNor the estimate al market value in the appraisal report
on the rate, calor, religion, sex. handicap, tamilL9 status, or ational origin of either he prospecthe owners or occupants of the subject property or of the present
owners or occupants of IM properties In the vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property. and nether my current or future employment nor my compensation ter performing the
apprasa b contingent on the appraised value of the property.
6. I was not required to report a predetermined vable or duectbn In value Ihrt favors the cause of the dent or any related patty, the amount of the value estimate,
the attainment of a spear resub or Me occurrence of a subsequent event In order lo receive my compensation and/as empbymenf for pertormirng rhe appraisal. I
did nal base the appraisal report on a requested minimum vababn, a speck valuation or the need to approve a speck mortgage an,
7. I performed this appraisal in cordormty with the Undorm Standards of Prolessbna Appraisal Praclke that were adopted and promulgated by the Appraisal
St.uvbnk BoaJ at The Appraisal Four 1abn and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those
Stantnh. which does not appy. I acknowledge that an estimate of a reasonable tune for exposure in the open market is a condition in the definition of market value
and the estimate 1 developed b consistent with the marketing lime noted in the neighborhood sectbn of this report, unless I have otherwise stated in the
recancdblien section.
8. I have personally inspected the interior and exterior areas of the subject property and the exterior of alp properties fisted as comparables In the appraisal report.
1 toter sedgy that I have noted any apparent or known adverse conditions in the subject improvements. on the subject site, or an any site within the immediate
vkiniry of the subject property of which I am aware and have made adjustments for these adverse conation in my analysis of he property value to the extent that
I had market evidence to support them. I have also commented about the effect of the atherse conditions an the marketability of the subject property.
9. I personaily prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. N I relied on significant professional
assblance from any individual or individuals in the performance of the appraisal Or the preparation of the appraisal report I have named such indrvidualjsj and
disclosed the specific tasks performed by them in the reconciliation section of This appraisal report. I cedty that any indirvbual so named is quatied to perform
the tasks I have not authorized anyone to make a change to any dem in the report; therefore. if an unauthorized change is made to the appraisal report, I wll take
no responsibility for rt.
SUPERVISORY APPRAISER'S CERTIFICATION: If a supervisory appraiser signed de appraisal repos, he or she certifies and agrees that:
I direcly supervise the appraiser who prepared the appraisal report have reviewed the apprasal report agree with tM statements and conclusions of the appraiser.
agree to be bouM by IM appraisers tett/cations numbered 4 through 7 above, and am laking sup responsibility for the appraisal and the appraisal report.
ADDRESS OF PROPERTY APPRAISED:
APPRAISER:
Signature: G1U1 Ler(
Name: Craig Campb211 Star/ /lppraiser
151 Mountain, Fayetteville, AR 72701
Oise Signed: 329/99
Stale Certification #:
or Slate license #:
State:
Expiration Dale o1 Certification or Lkerse:
SUPERVISORY APPRAISER (only If required):
Sgnalane:CQ 4120 <//'.(" W j
Name: Nikki Belote Bradley
Elate Signed: 3/29/99
State Certification #: CGO756
or Slate Lkerse #:
State: AR
Expiration Dale of Certification or License: 6/30/99
NI Oid ❑ Did Not Inspect Properly
Feh1e Lac Form -139 6-93
Page 2 of 2 Room. Lae Farm I00$a 6-93
Form ACR — 601AL 2000 tor'Ainbws' appraisal software by a la mode, inc. — 14300-ALAI.IOOE
File No. 93251053( Pape or
FEMA Form 81-93, JUN 95
FEDERAL EMERGENCY MANAGEMENT AGENCY See BreAI1XLid
FLOOD HAZARD DETERMINATION ImYarmrs
ORB. No. X67-026.1STANDARD
Etpkesapii.m. IsvB
SECTION I - LOAN INFORMATION
1. LENDER NAME ANO ADDRESS
City of Fayetteville
113 West Mountain
Fayetteville Ar. 72703
2. COLLATERAL (BpdSgstfoDkHomaltrsoAA'HopeM) PROPERTY ADDRESS
(LearOescitbn maybe atxMM/
Building
151 Mountain
Fayetteville Ar.
3. LENDER t(1. NO.
4. LOAN IDENTIFIER
5. AMOUNT OF FL00D INSURANCE REQUIRED
1
SECTION 3
A. NATIONAL FLOOD INSURANCE
PROGRAM INFIPI COMMUNITY JURISDICTLON
NFIP
Community
Name
Coumy(ies)
Stale
NFIP Community
Number
Fayetteville, city of
Washington
AR
05216
B. NATIONAL FL000 INSIIRANCE PROGRAM (NFIPI DATA AFFECTING
BUILDING/MOBILE HOME
NFIP Map Number or CommuMy-Panel Number
(Community name, M not the sane, as'A')
NFIP Map Panel Effective
Revised Date
LOMA/LOMR
Fbod Zone
No NFIP
Map
05143C0092 C
9/18/91
X
Yes Date
C. FEDERAL FL00D INSURANCE AVAILABILITY (Clerka hatappyl
II
❑
In
Federal Fbod insurance Ls available (communeypamt<pales in NF/P)..
Feeral Flood insurance Is not available because community is not participating
Building/Mobile Home Is in a Coastal Barrkr Resources Area (CERA), Federal Fbod
CERA designation date:
El
In
Regular Program
the NFIP
Insurance may not be available.
• Emergency P ogram of NFIP
D. DETERMINATION
IS BUILDING/MOBILE HOME IN SPECIAL FLOOD HAZARD AREA
(ZONES BEGINNING WITH LETTERS 'A' OR V)? ❑ YES VI NO
If yes, flood insurance is required by the Flood Disaster Protection Act of 1973.
If no, flood Insurance is not required by the Flood Disaster Protection Act of 1973.
E. COMMENTS (Optional
This determination is based on examining the NFIP map, any Federal Emergency Management Agency revisions to B. and any Other information needed
to locate the building/mobile home on the NFIP map.
F. PREPARER'S INFORMATION
NAME, ADDRESS, TELEPHONE NUMBER (Noche, man Lemkr)
Craig Campbell Staff Appraiser
P.O. Box 389,
Fayettevilte, As 72702-0389
501-521-6338
DATE OF DETERMINATION
3/22/99
FEMA Form 81-93, JUN 95
SKETCH ADDENDUM Foe No 53255053
aroma City el Fayenevide
RAM/Maims 151 Mountain
Cer Fapllmlle
LUNarRT.m
County Washington
Stain M
Zip Cm. 72702
30.0'
11.0'
37.0
Laundry
Iticchan
Living Roan
Bath Roan
Master
Bedroom
6.0'
..0•
Bedroom
a
ITCH CALCULATION.
LLLLnO
cru
FLr.c
Resor
Tes.l Living ar..
eon.0
90.0
Porch
An.
Porch
total Petah An.
9C.0
96.0
FRAZER
S$ "•cf1ECT LOC°?1non EMAP .ct
REEN00Ufl
E
FEW R
m ore
}
RI
1(
us
•
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rE
C&np# �
t► N t�JAAlou
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ZOOM
MEM
IIIA
Syf•1 EDGE c,��
BONIE- :i
;gi•: led. al Cent
�o npklE�F__ '
�l
oynh 1720
-- M3jcct
e teVri
G,1 % p cna
rhyeae unction
10 100141 nm¢ SI
BonowewCiM CM of Fayetteville
Progeny Addess 151 Mountain
Cly Fayetteville
Ludy City of Fayetteville
Subject Photo Page
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Ifile No 972590581 Pace #101
by Code 72701
Subject Front
151 Mountain
Saks Price N/A
Gross being Area 988
Total Rooms 4
Total Bedrooms 2
TotalBaaeooms 1
Location Average
Yew Average
Sde .10 Ac mol
Duddy Fair
Age A44/E44
Subject Rear
Subject Street
Form PIC7a5.SR —'TOTAL 2000 for Windows' appraisal software by a t mode, Inc. — 1-800-ALAMODE
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
TENTATIVE AGENDA
CITY COUNCIL
JUNE 15, 1999
A meeting of the Fayetteville City Council will be held on June 15, 1999 at 6:30 p.m. in Room
219 of the City Administration Building located at 113 West Mountain Street, Fayetteville,
Arkansas.
The following items will be considered:
A. CONSENT
1. MINUTES: Approval of the minutes from June 1, 1999 City Council meeting.
2. GREATHOUSE PARK BRIDGE: A resolution approving a construction
contract with Tomlinson Asphalt to furnish and install a 10' X 75' prefab steel
bridge providing the only access to Greathouse Park. Construction will also
include excavation of the channel and concrete abutments. The contract amount
is $102,313 with a project contingency of $10,000 totaling $112,313.
3. YVONNE RICHARDSON CENTER EXPANSION: A resolution approving
an offer and acceptance to acquire property located at 151 E Mountain Street for
future expansion of the Yvonne Richardson Community Center.
4. WEST FORK WATER: A resolution approving a contract for the wholesale
water purchase contract with the city of West Fork.
5. BID 99-54: A resolution approving Bid 99-54 for a breathing air compressor and
cascade air storage system for the fire department.
6. LAND PURCHASE. A resolution authorizing the City to purchase 1.22 acres of
unimproved land from Charles T. Combs for $34,500 plus closing costs in
association with the extension of Sixth Street from Wood Avenue to East
Huntsville Road.
•
B. OLD BUSINESS
1. UNDERGROUND UTILITY EXEMPTIONS• An ordinance amending
Section 166.13 of the Code of Fayetteville allowing for exemptions to the
Underground Utility requirements.
113 WEST MOUNTAIN 72701 501-521-7700
FAX 501-575-8257