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Home My WebLink About82-99 RESOLUTION• • RESOLUTION NO. 8 2 •- 99 A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE CONTRACT IN THE AMOUNT OF $34,500, PLUS ASSOCIATED CLOSING COSTS, TO PURCHASE 1.22 ACRES OWNED BY CHARLES T. COMBS FOR THE EXTENSION OF SIXTH STREET FROM WOOD AVENUE TO EAST HUNTSVILLE ROAD. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1. That the City Council hereby approves an Offer and Acceptance Contract in the amount of $34,500, plus associated closing costs, to purchase 1.22 acres owned by Charles T. Combs for the extension of Sixth Street from Wood Avenue to East Huntsville Road. A copy of the contract is attached hereto marked Exhibit "A" and made a part hereof. PASSED AND APPROVED this 1.511 day of June , 1999. By: /.A7-ee Heather Woodruff, City Cork APPROVED: ////�w_ By %"/0-144 Fred Hanna, Mayor • OFFER AND ACCEPTANCE CONTRACT EXHIBIT A 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. Seller agrees to enter into a Temporary Construction and Grading Easement with the City of Fayetteville, the description of said Easement as shown in Exhibit "B" attached hereto. The . Temporary Construction and Grading Easement will terminate upon completion and acceptance by the City of Fayetteville the project that extends Sixth Street from Wood Avenue to Huntsville Road. 3. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property referred to in Item #1 and the easement referred to in Item #2, at closing, the total and cash payment of $34,500.00. 4. Contingent Eamest Money Deposit: The Buyer will, within two (2) weeks of receipt of this contract, fully executed, tender a check for $1,000.00 to Charles T. Combs, hereinafter referred to as the Seller, as eamest 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 Conveyances will be made to the Buyer by general Warranty Deed and Temporary Construction and Grading Easement, except they shall be subject to recorded instruments and easements, if any, which do not materially affect the value of the property. Such Warranty Deed conveyance shall include mineral rights owned by the Seller. 6. The Seller shall furnish a policy of title insurance on Item #1 in the amount of $ 33.750.00 from a title insurance company as selected by the Buyer. Buyer and Seller shall share equally in the cost of title insurance. 7. Seller agrees to allow Buyer, if Buyer so desires, 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. 8. Taxes and special assessments due on or before closing shall be paid by the Seller. Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be prorated as of closing. Buyer shall pay to Seller at closing that prorated portion of taxes and assessments due for the tax year of purchase. OFFER AND ACCEPTANCE CONTRACT Page 3 of 5 SELLER: Charles T. Combs AGENT OR WITNESS: t. BUYER: City of Fayetteville, Arkansas, a municipal corporation FreHanna Ma or Y z/ ede eather Woodruff, City Clerk Date: J - Z7- q`f Date: Date: h/%y Date: 5-42/%9 (SEAL) OFFER AND ACCEPTANCE CONTRACT Page5of5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4 A fifteen (15 ) foot wide temporary construction and grading easement across the above described• property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. , SIGNED FOR IDENTIFICATION: SELLER: a. -LT 00.,L Charles T. Combs OFFER AND ACCEPTANCE CONTRACT Page 4 of 5 EXHIBIT "A" PROPERTY DESCRIPTION All of Lot Three (3) and the north fifty-three (53) feet of Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas. SIGNED FOR IDENTIFICATION: SELLER: -- aJt- Charles T. Combs OFFER AND ACCEPTANCE CONTRACT Page 5 of 5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4. A fifteen (15 ) foot wide temporary construction and grading easement across the above described property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. SIGNED FOR IDENTIFICATION: SELLER: cat Charles T. Combs • • FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE To: Ed Connell, Engineering From: Heather Woodruff, City Clerk Date: June 22, 1999 Attached is a copy of the resolution approving the offer and acceptance with Charles T. Combs for your records The original will be microfilmed and filed with the City Clerk. cc. Yolanda Fields, Internal Auditor • • STAFF REVIEW FORM X AGENDA REQUEST CONTRACT REVIEW GRANT REVIEW For the Fayetteville City Council meeting of June 15, 1999 FROM: Re -s 72-99 MICROFILMED Engtneenng Pubhc Works Division Department ACTION REQUIRED: Approval of a resolution authorizing the City to purchase 1.22 acres of un improved land from Charles T. Combs for $34,500.00 plus closing costs in association with the extension of Sixth Street from Wood Avenue to East Huntsville Road. COST TO CITY: ,So° ass a. ost of was - Request 826 491 00 ategory/Project Budget Category/Project Street Extension to E Huntsville Road ategory ject Name 4470-9470-5809-00 $ 75.000 00 Account Number Funds Used To Date Program Name 6044-30 ject Number 751,491 00 emammg'Balance FSaIIs Tax CIP BUDGET REVIEW: Budget Coordinator X Budgeted It A.n 1 _ Budget Adjustment Attached strattve ervices Director CONTRACT/GRANT/LEASE REVIEW Date °9 4 —9? ga_ate eLcci I G AGE utofu "" ate A Coordmator Date STAFF RECOMMENDATION: Staff recommends approval of this acquisition so that this project can be scheduled for implementation. This property represents 37% of the required acquisition on this project. 2 J;,.4,71 ate Cross Reference New Item: Yes X No Date Prev Ord/Res #: ate Orig Contract Date: to STAFF REVIEW FORM Description Combs Propertv--Sixth Street Extension to East Huntsville Road Meeting Date June 15. 1999. Comments: Budget Coordinator Accounting Manager City Attomey Purchasing Officer ADA Coordinator Internal Auditor Reference Comments: Page 2 • FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE DATE. June 2, 1999 TO: Fayetteville City Council THRU: Fred Hanna, Mayor Charles Venable, Public Works Director Donald Bunn, Assistant Pubic Works Director Jim Beavers, City Engineer FROM: Ed Connell, Land Agent G/,� __2 RE: Sixth Street Extension to East Huntsville Road Offer and Acceptance Contract - Combs Please find herewith an executed Offer and Acceptance Contract between the City and Charles T. Combs relative to the acquisition of 1.22 acres of land (Tract 2) of unimproved land for the extension of Sixth Street from Wood Ave, to East Huntsville Road. This property is the second of four property owners from which right of way is being acquired. The Combs property acquisition constitutes 37% of the total additional right of way needed for this street extension This property, along with the Smith property (approved for purchase on June 1, 1999) will account for almost 90% of the additional right of way. Please refer to the attached diagram which illustrates the right of way acquisition for this project Although not illustrated here, Huntsville Road, just West of Blair Ave., will be closed to through traffic and all Huntsville traffic is to be directed to the North-South extension of Mashburn Ave. The City's appraisal for this 1.22 acre land acquisition, plus some additional for landscape damages and temporary easement, amounted to $32,550.00. This amount was offered to Mr. Combs in April of this year Mr. Combs engaged another local appraiser to appraise the City taking: said appraiser estimated the value to be $34,500.00. Please find herewith summary page copies of both independent appraisals. The City agreed with Mr. Combs counter of $34,500.00, a 5.9% increase over the City original offer Enclosed is a copy of a Offer and Acceptance contract between the City and Mr. Combs to this affect. Staff recommends the passage of a resolution to the City Council accepting this contract. Charles T. Combs: Drainage ),and Esmt. TCE, Improvements Total Damages Tract #2: Parts of P 765-02490-000 & 765-02491-000 $33,750 0 450 300. 34,500 • FAYETTEVILL E THE CITY OF FAYETTEVILLE, ARKANSAS May 27, 1999 Charles T. Combs 6516 E Riverdale St. Mesa, AZ 85215 RE: Sixth Street Extension Job No. 96044 Tract No. 2 Parcel Nos. 765-02490-000 & 765-02491-000 Revised Offer Letter Dear Mr. Combs: The City of Fayetteville is planning the extension of Sixth Street from Huntsville Road to Wood Avenue. It is therefore necessary to obtain right of way for the street and a temporary construction easement across a portion of your property for this project. The temporary construction easement will terminate upon completion and acceptance of the project by the City. Included is a general map of the subject area, as well as a drawing of your specific property depicting the anticipated areas required for right of way and the temporary easement. The City of Fayetteville hereby offers $33,750.00 for the acquisition of right of way (53,314 square feet), $450.00 as rental of the land associated with the Temporary Construction and Grading Easement (4,277 square feet), and $300.00 for landscape damages (loss of a rail fence within right of way area); making the total offer amount $34,500.00. These amounts are based on an appraisal done by Byron Al Thompson, Appraisals, Inc. and dated May 10, 1999. Also enclosed is a drawing depicting two foot contours in relation to the property—both the proposed acquisition area and your remaining part of Lot 4. Please note that the proposed drainage pipe to be installed follows these contours and no additional stormwater drainage is expected to empty from this system than is currently being carried naturally across the property. Should you elect to accept this offer, the Offer and Acceptance Contract (two originals enclosed) contained herein should be executed by all parties with current ownership interest in the particular property. The Offer and Acceptance Contract is subject to City Council approval. Also enclosed are draft copies of the proposed Warranty Deed and Temporary Construction and Grading Easement. 113 WEST MOUNTAIN 72701 501 521-7700 FAX 501 575-8257 Mr. Combs Offer Letter, Page 2 of 2 If you make a final rejection of this offer, you do have certain legal rights which are outlined hereafter. Upon your final rejection of this offer, and if the City of Fayetteville elects to do so, a suit of condemnation may be filed. The amount of just compensation for the purchase and use of your property will be determined by an independent appraisal and deposited with the Registry of the Circuit Court of Washington County. You may, at that time, elect to accept the amount deposited as just compensation and the amount will be paid to you thereby disposing of the condemnation suit. If you do not elect to accept the amount deposited as just compensation, then you may . withdraw the amount placed on deposit without prejudice to your rights to claim additional compensation. In this event, you will be entitled to a trial by jury in the Circuit Court to determine just compensation for your lands condemned. In either event, payment of the estimated just compensation will be made available to you. We, however, ask that you accept the offer made herein by executing the attached Offer and Acceptance Contract Please return one copy of the fully executed Offer and Acceptance Contract. (The other one is for your files.) The Offer and Acceptance Contract must be approved by the City Council and the document is subject to that approval. Please provide us with a Tax Identification Number (Corporation) or Social Security Number so that an eamest money check can be written upon execution of the proposed Offer and Acceptance Contract. A Vendor Form is provided for this purpose. A City Land Agent will be glad to meet with you at your convenience and discuss all phases of this project and the associated easements. Please contact Ed Connell at (501) 444- 3415, Jill Goddard at 444-3407 or I can be reached at 575-8206. Sincerely yours, Jim Beavers City Engineer JB/jsg Attachments FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS April 12, 1999 Charles T. Combs 6516 E Riverside Mesa, AZ 85215 RE: Sixth Street Extension Job No. 96044 Tract No. 2 Parcel Nos. 765-02490-000 & 765-02491-000 Offer Letter Dear Mr. Combs: The City of Fayetteville is planning the extension of Sixth Street from Huntsville Road to Wood Avenue. It is therefore necessary to obtain right of way for the street and a temporary construction easement across a portion of your property for this project. The temporary construction easement will terminate upon completion and acceptance of the project by the City. Included is a general map of the subject area, as well as a drawing of your specific property depicting the anticipated areas required for right of way and the temporary easement. The City of Fayetteville hereby offers $32,000.00 for the acquisition of right of way (53,314 square feet), $300.00 as rental of the land associated with the Temporary Construction and Grading Easement (4,277 square feet), and $250.00 for landscape damages (loss of a rail fence within right of way area); making the total offer amount $32,550.00. These amounts are based on an appraisal done by Mark Risk, The Real Estate Consultants (a copy of the summary sheet is attached). Also enclosed is a drawing depicting two foot contours in relation to the property—both the proposed acquisition area and your remaining part of Lot 4. Please note that the proposed drainage pipe to be installed follows these contours and no additional stormwater drainage is expected to empty from this system than is currently being carried naturally across the property. Should you elect to accept this offer, the Offer and Acceptance Contract (two originals enclosed) contained herein should be executed by all parties with current ownership interest in the particular property. The Offer and Acceptance Contract is subject to City Council approval. Also enclosed are draft copies of the proposed Warranty Deed and Temporary Construction and Grading Easement. 113 WEST MOUNTAIN 72701 501 521-7700 • FAX 501 575-8257 • • Mr. Combs Offer Letter, Page 2 of 2 If you make a final rejection of this offer, you do have certain legal rights which are outlined hereafter. Upon your final rejection of this offer, and if the City of Fayetteville elects to do so, a suit of condemnation may be filed. The amount of just compensation for the purchase and use of your property will be determined by an independent appraisal and deposited with the Registry of the Circuit Court of Washington County. You may, at that time, elect to accept the amount deposited as just compensation and the amount will be paid to you thereby disposing of the condemnation suit. If you do not elect to accept the amount deposited as just compensation, then you may withdraw the amount placed on deposit without prejudice to your rights to claim additional compensation. In this event, you will be entitled to a trial by jury in the Circuit Court to determine just compensation for your lands condemned. In either event, payment of the estimated just compensation will be made available to you. We, however, ask that you accept the offer made herein by executing the attached Offer and Acceptance Contract. Please return one copy of the fully executed Offer and Acceptance Contract. (The other one is for your files.) The Offer and Acceptance Contract must be approved by the City Council and the document is subject to that approval. Please provide us with a Tax Identification Number (Corporation) or Social Security Number so that an earnest money check can be written upon execution of the proposed Offer and Acceptance Contract. A Vendor Form is provided for this purpose. A City Land Agent will be glad to meet with you at your convenience and discuss all phases of this project and the associated easements. Please contact Ed Connell at (501) 444- 3415, Jill Goddard at 444-3407 or I can be reached at 575-8206. Sincerely yours, B im Beavers City Engineer JB/jsg Attachments FAYETTEVILLE THE CITY OF FAYETTEVILLE, ARKANSAS May 28, 1999 Charles T. Combs 6516 E Riverdale Street Mesa, AZ 85215 RE: Sixth Street Extension Job No. 96044 Parcel nos. 765-02490-000 & 02491-000 Offer and Acceptance Dear Charlie: In accordance with our meeting of May 27, 1999 in Fayetteville, we are pleased to include herewith one fully executed original of the subject Offer and Acceptance contract between the city and yourself relative to the purchase, by the City, of 1.75 acres of land for the subject project. As noted in the document, as well as the included revised Offer Letter, the agreed compensation of $34,500.00 has been incorporated As we discussed, the procedure that is to be followed from this point is as follows; 1) This office will prepare the required information and submit an agenda item to the Fayetteville City Council for their approval of this purchase. This could take as much as six weeks before this approval is obtained. 2) Within the next couple of working days, this office will request a title insurance policy commitment be written by Bronson Abstract Company, Inc of Fayetteville. It will take about a month to obtain this commitment. Bronson will also give us a cost for such title insurance policy, such cost will be equally shared at closing. 3) Since you are going to utilize a Code 1031 Deferred Tax intermediary in this transaction, we suggest that you arrange for their involvement as soon as possible. We do have some questions with regard to the temporary easement rental ($450) and the landscape damages (#300) which may have to be paid to you outside the scope of the 1031 transaction. 4) Do you have any of this property under lien or mortgage? If so, it is important that the abstractor and ourselves be made aware of who and to what extent. 5) The City will work with your intermediary as to an exact closing time, wherein the monies will be wired to the trust of the intermediary. If there are no liens or mortgages on this property, this office will prepare the necessary closing statements and deeds, thus there will not be a cost involved for closing. If it becomes necessary to utilize a closing agent due to the existence of a lien or mortgage on this property, 113 WEST MOUNTAIN 72701 501 521-7700 PAY cm 575-8257 Charles T. Combs May 28, 1999 Page 2 5) continued — then the fee or cost of such closing agent will be equally borne by the Seller and Buyer. 6) The Offer and Acceptance contract indicates a closing date to be 30 days after approval by the Fayetteville City Council. This can be extended if necessary, however, we are probably looking at 60-70 days from now. Please have your intermediary contact me at 501-444-3415 and we will be pleased to provide whatever information they might require. We appreciate your cooperation on this matter. Enclosure Sincerely, dward D. Connell City Land Agent 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 Seller agrees to enter into a Temporary Construction and Grading Easement with the City of Fayetteville, the description of said Easement as shown in Exhibit "B" attached hereto. The Temporary Construction and Grading Easement will terminate upon completion and acceptance by the City of Fayetteville the project that extends Sixth Street from Wood Avenue to Huntsville Road. Purchase Price: Subject to the following conditions, the Buyer shall pay for the property referred to in Item #1 and the easement referred to in Item #2, at closing, the total and cash payment of $34,500 00. 4. Contingent Eamest Money Deposit The Buyer will, within two (2) weeks of receipt of this contract, fully executed, tender a check for $1,000 00 to Charles T. Combs, 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 5. Conveyances will be made to the Buyer by general Warranty Deed and Temporary Construction and Grading Easement, except they shall be subject to recorded instruments and easements, if any, which do not materially affect the value of the property. Such Warranty Deed conveyance shall include mineral rights owned by the Seller. 6. The Seller shall furnish a policy of title insurance on Item #1 in the amount of $ 33.750.00 from a title insurance company as selected by the Buyer. Buyer and Seller shall share equally in the cost of title insurance. 7. Seller agrees to allow Buyer, if Buyer so desires, 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. 8. Taxes and special assessments due on or before closing shall be paid by the Seller. Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be prorated as of closing. Buyer shall pay to Seller at closing that prorated portion of taxes and assessments due for the tax year of purchase. • OFFER AND ACCEPTANCE CONTRACT Page 3 of 5 SELLER:. Charles T. Combs AGENT OR WITNESS: BUYER: City of Fayetteville, Arkansas, a municipal corporation FreHanna, Mayor • adiC Air Bather Woodruff, City Clerk • Date: S- �7- 97 Date: Date: P7/1, Date: Date: 5-42/7 (SEAL) • OFFER AND ACCEPTANCE CONTRACT Page5of5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4. A fifteen (15 ) foot wide temporary construction and grading easement across the above described property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. SIGNED FOR IDENTIFICATION: SELLER: Cat Ineptt Charles T. Combs • OFFER AND ACCEPTANCE CONTRACT Page 4 of 5 EXHIBIT "A" PROPERTY DESCRIPTION All of Lot Three (3) and the north fifty-three (53) feet of Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas. SIGNED FOR IDENTIFICATION: Charles T. Combs OFFER AND ACCEPTANCE CONTRACT Page 5 of 5 EXHIBIT "B" TEMPORARY CONSTRUCTION AND GRADING EASEMENT DESCRIPTION PROPERTY DESCRIPTION: Lot Four (4) of Aumick's Addition to the City of Fayetteville, Washington County, Arkansas, LESS AND EXCEPT the North fifty-three (53) feet of Lot 4. A fifteen (15 ) foot wide temporary construction and grading easement across the above described property, being parallel with and contiguous to the north line and situated on the south side thereof. This temporary construction and grading easement contains 4,277 square feet (0.098 acre), more or less. SIGNED FOR IDENTIFICATION: SELLER: Cell k��6 Charles T. Combs • FAYE fl TEVI LLE THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENTAL CORRESPONDENCE May 27, 1999 TO: Fred Hanna, Mayor THRU: Charles Venable, Director of Public Works &a Jim Beavers, City Engineer FROM: Ed Connell, Land Agent RE: Sixth Street Extension to Huntsville Road Charles t. Combs: Tract #2 Right of Way & Temporary Easement Acquisition Please find herewith an Offer and Acceptance Contract between the City and Charles T. Combs for the acquisition of road right of way and temporary construction easement in association with the subject project. The City offered $32,550.00 for the properties involved, based upon an independent appraisal. Mr. Combs, who lives in Arizona, countered with a figure of $34,500.00, a 6.09% increase, based upon an appraisal he had conducted by another local appraiser. Mr. Combs has agreed to accept the latter figure of $34,500.00. Included are two original contracts which need to be executed on behalf of the City if the counteroffer is acceptable. This contract is, of course, subject to the approval of the City Council. Included for your information are the appraisal summary sheets for the tracts involved with this transaction. As noted, this transaction involves the acquisition of 1.75 acres of unimproved land, along with temporary construction easements and damages to existing property fencing. It is this author's opinion that the counteroffer of Mr. Combs is reasonable and should be accepted by the City staff and City Council. The Combs property constitutes approximately 37% of the total area acquisition for this project. Please sign on behalf of the City at the places indicated and return both documents to Ed Connell. Charles Thrasher Combs Deed Ref.: 791/396; P76-172;1008/340; 1030/648 Parcel Nos. 765-02490-000 (North 108of Lot 3) 765-02491-000 (South 26' of Lot 3 and all of Lot 4) 1V Scale: 1" = 60' tier) - & zoz ><t z /s//Z R� 4i z ' 2 4-c-) NOTE: TRACTS HAVE BEEN ROTATED TO CITY OF FAYETTEVILLE GLOBAL POSITIONING SATELLITE SYSTEM BEARINGS. Title: Charles Combs' Property --Lots 3 & 4 Date: 07-15-1998 Scale: 1 inch = 60 feet File: COMBS3&4.DES Tract 1: 0.877 Acres: 38202 Sq Feet: 3549.1 Sq Meters: No significant closure error. : Perimeter = 838 feet Tract 2: 0.877 Acres: 38216 Sq Feet: 3550.3 Sq Meters: No significant closure error.: Perimeter = 838 feet Tract 3: 0.347 Acres: 15112 Sq Feet: 1404.0 Sq Meters: No significant closure error. : Perimeter = 676 feet Tract 4: 0.530 Acres: 23103 Sq Feet: 2146.4 Sq Meters: No significant closure error. : Perimeter = 732 feet Tract 5: 0.098 Acres: 4277 Sq Feet: 397.4 Sq Meters: No significant closure error. Perimeter = 600 feet 001=S87.3239E 285.02 01 1=@4 r/w Lot 4 021=N02.2948E 81.01 002=S02.2717W I34.01 012=**S87.3243E 285.12 022=@4 temp esmt 003=1487.3243W 285.12 013=S02.2717W 53.0 023=/S02.2958W 53.0 004=N02.2948E 134.01 014=N87.3243W 285.16 024=s02.2948w 15.00 005=@4 Lot 4 015=n02.2948e53.00 025=s87.3243e 285.17 006=/S02.2948W 134.01 016=@8 remainder 02&t02.2717e 15.00 007=N02.2948E 134.01 017=/S02.2948W 53.0 027=n87.3243w285.16 008=S87.3243E 285.12 018=S87.3243E 285.16 009=S02.2717W 134.01 019=S02.2717W 81.01 010=n87.3243w 285.22 020=N87.3243W 285.22 •:a:: LAND APPRAISAL RERORT FpNa 199371 PaQgy] MARKET DATA ANALYSIS .._`... :` File No 199376 ;a, :S:'' . . APPRAISALS, INC. ' i'`• Form LNO.(AC) —'TOTAL 2000 (or Windows" appraisal software by a la mode, Inc. — 1-800•ALAMODE ITEM SUBJECT PROPERTY COMPARABLE NO. 4 COMPARABLE NO. 5 COMPARABLE NO. a Address 6th Street and Wood Avenue Fayetteville Pro,r*v to Sut i,42l.'2;4Adjacent Pt Lots 6 & 7, Aumick's Addn Fayetteville to the east al s do None _ iCts17,000 •4 49 , • C. ,j.. y, Price .; ^, .f,.?<<:- 10"40 ,. . as Data Source Inspection Court Records Date of sa!e and Thie AdlustientN/A DESCRIPI1ON DESC IP ON +-1S Adjust. DESCRIPTI01 +- d'ust. DESCRIPIJON I+i-is Adst. 7/95 +2000 Locaon Average Fair +8.500 - B ew 1.224 Ac/Average 1.66 Ac/Average -11` T ra Average Average T VIsIbWtyAverage Fair +8.500 AccessibIlity Average Fair +6500 UtlI es All City All City Sales or Financing Concessions N/A Not Known - No Mortgage Found NetMfGmafla' Ind!cated Vales of Sub4ct -4 .Y; .i.C;y' ':) .yp.g?°', &y.g..-.y< + - s 16.500 a; S':: 4 •, -. ' `":'•33,500 + ' ;� a.:,. ,. y.: r -y. Comments: URAR: SALES COMPARISON APPROACH A diligent effort was made In the search for comparable sales that are the most similar, most recent, and closest In proximity to the subject property. The market was expanded back over one year to find the best sales. Those ed in this port are the best available rket data. While not exactly the same the sales do forth a realistic range of value for the subject Most weight is given sale one since it is the most similar and required the least adjustment. Sale four. which is adjacent to the subject is Included to provide support. HIGHEST AND BEST USE ANALYSIS The south portion of the subject Is zoned R-2 Medium Density Residential, d the orth portion is zoned C-2 Commercial. However, because of the relatively low traffic count on Wood Avenue, I believe that it is highly unlikely that the subject would be developed as commercial property. lilt were combined with adjacent properties to the north or northeast, it Is m likely. However, it's beyond the scope of this appraisal to speculate on such a possibility. In my opinion, the Highest and Best Use of the sublett is medium density residential. rqr r. i a�) . C1il_. yam .r. .• •1. ?Ir�F'n'vv_ 11 r.' . t sl J ter n )'n11� , •1�, li. r1 .All4i.i�i'.'rMITT'.id.:•'.n'f.n f F�Ly�� ♦Z it '�l v ♦ ♦'y.-f'!}IA' 1. rtr~.h r �r `!r �r }i....• r S.Lr. rr. .Y� Ii if • ae • n 1 � . rl . Yti'I. }i ✓.q APPRAISAL REPORT FOR CITY OF FAYETTF F Limited Summary Appraisal Report PROJECT Sixth Street Extension (Project No. 96044) COUNTY Washington PARCEL # 765-02490-000 & 765-02491-000 LOCATION Lots #3 & #4, Aumicks Addition FEE OWNER Charles T. Combs ADDRESS 6516 E. Riverdale, Mesa, AZ 85215 ESTATE APPRAISED Fee Simple AREA OF WHOLE 1.754 acres AREA OF RESIDUAL .53 acres AREA OF PERMANENT ACQUISITION 53,314 SF or 1.224 Ac. (Description attached) Temporary Construction Easement 4,277 SP or 0.098 Ac. ESTIMATED FAIR MARKET VALUE OF THE PROPERTY: Before Land $ 45,842 Improvements S Not Considered Total $ 45,842 After Ind $ 13,852 Improvements $ Not Considered :._ Total S 13 852 FAIR MARKET VALUE OF PERMANENT R -O -W ACQUISITION $ 31,990 As of 27th day of August, 1998 ... ALLOCATION OF F.M.V. OF TOTAL ACQUISITION R -O -W 53,314 SF ® $.60/SF = $ 31,988 Say $ 32,000 T.C.E.* 4,277 SF @ $.60/SF x .l0 x I = $ 257 Say $ 300 Trees None $ 0 Improvements Raid Fence $ 250 Total R -O -W, T.C.E., Trees, & Improvements $ 32,550 Damages or Benefits �0 Total Compensation ATTACHMENTS: S.I`.m1P 41 riiii __________ Certificate of Appraiser v Photographs Apprai , Mark E. Rr(k " , CC 'LO'2's �' Zoning, H&B Use & Narrative ' �.� M•arket Data Approach =' j i Ce TIFIEDu Survey * C'a.L-u ! t Tax Assessment Card = ' \No. CG0202: f C "7�iiirpn�lRIIIIII`nlnCe�� P`"`.� * Temporary Construction Easement (T.C.E.) value is based upon the fee simple land value multiplied times the Current Yield on I Year CDs for a I year period plus a premium for inconvenience. I hereby certify: That I have personally inspected the property herein appraised, and that I have made a personal field inspection of the comparable sales relied upon in making said appraisal. The subject and the comparable sales relied upon in making said appraisal were as represented by the photographs and data contained in said appraisal. That to the best of my knowledge and belief, the statements contained in the appraisal herein set forth are true, and the information upon which the opinions expressed therein are based is correct. That the reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, unbiased professional analyses, opinions, and conclusions. That I understand that such appraisal may be used in connection with the permanent acquisition of right of way for the extension of Sixth St. to Huntsville Road. The project is to be performed by the City of Fayetteville. This project has been initiated by the City of Fayetteville. That such appraisal has been made in conformity with the appropriate City laws, regulations, and policies and procedures applicable to appraisal of right of ways and easements for such purposes; that in appraising the value before acquisition, no consideration has been given to increases or decreases in Fair Market Value caused by the public improvement; and that to the best of my knowledge no portion of the value assigned to such property consists of items which are noncompensable under the established law of said City. That neither my employment nor my compensation for making this appraisal and report are in any way contingent upon the values reported herein. That I have no direct or indirect, present or contemplated future personal interest in such property, and no personal interest or bias with respect to the parties involved, or in any benefit from the acquisition of such property appraised. That I have not revealed the findings and results of such appraisal to anyone other than the proper officials of the City of Fayetteville, and I will not do so until so authorized by said City officials, or until I am required to do so by due process of law, or until I am released from this obligation by having publicly testified as to such findings. That my analyses, opinions, and conclusions were developed and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice and no one provided significant professional assistance to the persons signing this report. That in my opinion the just compensation for the acquisition as of the 27th day of August, 122 , is $ 32.550 based upon my independent appraisal and the exercise of my professional judgment. J •1 1 • "1 •1 ''• 1 •' 1,1.1 • s! I'J tlIIi.1 PICTURES 7 i ti Yt' r t'] 'Q M _.� • �' •Mj)r I ITS\ ••r� � l a •t� i '. y.�I�/ rH •O >. c �.,� p p-*.t°:°'.'c �,�] i3f� f. i ,.IO V- R 'e�� ' � •ta anti Pc`.F o•'r• ' 99C -C l R. $ v.T 'VV. C .] •JR .HIi �. t r y 3 YVW . U LY P. ° � ] ',LS'� 2 d%G!"pgRR � s , rn 44 !r] x rl r J' m a I 4 ® . L, O� r �ilCl ry S. T �N J. o ^1�� ' ^ o Ib[ D'1r U 11 rl r Ir' O a L 3 JT L) 1/xiS C rv� � O • {��Ad ]C/ o • r e � 13� 'y 1.. Cry T. ! . J � - ri Acquisition Area at Subject's West Boundary Looking East from Wood Ave. (East view) ♦ {!W NV r ♦ e3�L )'il !� �Fr�Rf 1 � s �� L11' 39 _ �' ♦,�,TL •��• r�J 5 T] { r � / r• '1V).�yp♦,e�14G1. .- J{� \{�ill'tYTi �."i�," �'�!. ri F• a 5,'1. •.,a• A 5 ; c' 4 Y•fiF ✓rr I`al y'P J rlC.y, r Ill •. 1 r o � 1. .. `f.:Ca us✓ u I . � k° V �� tl♦ry � � o ♦.J{y'$ fiJ YYbra11 `,r .. �,� j�im� ¢Iu r^ Ere ¢. U'., }y d u o .e �1CIOV ^Ki Tb � ♦ I1tl v 4F/ VQllYbi d To L./. �uJ # > ] rTrO![ 4 tr ♦ j y,.Y �tltn \\1tt.��1\\U�� ((p••�j', tlfl��t1�)�.n�)�I�+i�1a r.yy M1 1�0 I o Hl ♦ t• ��S'S S^.fylW �y` �R A• J��rW �+ VI]gyr r.:�Y1�OC}. .. ^15Y� EfL�Ct♦�4 cbl ��... ]1♦•Cp�I OI♦I T ]Fa b F ° r U]. '♦ p a•fi e 3 °'♦o (, Orc� rd`t, . rYi • e � S ti u�`i r ° c Si `r } e n br c.b Lrc r-•• �� /r V SJ �� .IYT ��Ih Acquisition Area at East Boundary Looking West (West view) r A crvI' L rLUI ^4.x1 +IM nY� 1 C E�_�C/fORfa d. ]l.'llWp ^LIn Or F: rbr n rl V. ..n' I ' a r. '.. r•r L rn .��r ✓ 1 +� 'Y V t. � ,��'u n R �'m tl5•r Jy�r�Y tir AM ro�srv� /•.rJ "nfJ. I .•I.rn D9 Rs. .iQ�' Street Scene of Wood Ave. Looking North, Subject Site on Right (North'view)