HomeMy WebLinkAbout151-01 RESOLUTION1
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RESOLUTION NO. 151-01
A RESOLUTION TO APPROVE AN OFFER AND
ACCEPTANCE CONTRACT FOR THE CITY'S
PURCHASE OF APPROXIMATELY 6.58 ACRES
FROM THE ARKANSAS AND MISSOURI RAILROAD
COMPANY TO ASSIST IN THE EXPANSION OF GREGG
AVENUE INTO A FOUR LAND AVENUE FROM TOWNSHIP
TO VAN ASCHE l.dtf
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WHEREAS, the City Council has determined it is vital to enlarge Gregg Avenue
from Township north to the new Washington Regional Medical Center and the businesses
on Millsap and toward the Northwest Arkansas Mall, and;
WHEREAS, the City of Fayetteville needs to obtain right of way to move
utilities and allow expansion of Gregg Avenue in partnership with the Arkansas Highway
Commission's plan to enlarge Gregg Avenue from Township Avenue north toward the 1[-
540 Bypass; and
WHEREAS, it will save the City substantial funds to obtain most of the right of
way through the purchase of this right of way on the West side of Gregg Avenue from the
Arkansas and Missouri railroad.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF FAYETTEVILLE, ARKANSAS:
Section 1. That the City Council of the City of Fayetteville, Arkansas hereby
approves the Offer and Acceptance Contract to purchase approximately 6 58 acres from
the Arkansas and Missouri Railroad Company for $263,200.00 and authorizes the Mayor
to execute said contract and any additional documents necessary to fulfill this purchase.
jASSED and APPROVED this the 6th day of November, 2001.
r `0'
By://a4 //�'� �^Z
Bather Woodruff, City Cl
APPROVED:
By:
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•
NAME OF FILE:
CROSS REFERENCE:
Resolution No. 151-01
•
11/06/01
Resolution No. 151-01
10/03/01
Offer and Acceptance Contract
10/04/01
Addendum to the terms and conditions of the Offer and Acceptance
Contract
Exhibit "A" Property Description (Gregg Avenue Proposed Right of
Way Acquisition) of the Offer and Acceptance Contract
11/03/01
Acknowledgment of the Offer and Acceptance Contract
25 Ft Railroad ROW Proposed Acquisition
Appraisal Report
10/19/01
Memo to Mayor Coody and City Council thru Ted Webber, Admin.
Services Director, from Stephen Davis, Budget Manager, regarding
Gregg Street Right -of -Way (ROW) Purchase - Options
10/04/01
Memo to Fay. City Council thru Mayor Coody, Greg Boettcher, PW
Director, Jim Beavers, City Engineer, from Ed Connell, regarding
Purchase of Railroad ROW for Gregg Ave. Expansion
09/28/01
Memo to Jim Beavers, City Engineer, from Greg Boettcher, PW
Director, regarding Gregg Avenue Widening and Improvement
Preliminary Schedule/R.O.W. Acquisition
09/19/01
Letter to Mayor Coody from Robert L. Walters, Chief Engineer, AHTD
10/16/01
Staff Review Form
11.09/01
Memo to Ed Connell, Engineering Division, from Heather Woodruff,
City Clerk
NOTES:
Form No. 1402.92
(10/17/92)
ALTA Owner's Policy
First American Title Insurance Company
SUBJECT TO THE EXCLUSIONS FROM COVERAGE, THE EXCEPTIONS FROM COVERAGE CONTAINED IN SCHEDULE
B AND THE CONDITIONS AND STIPULATIONS, FIRST AMERICAN TITLE INSURANCE COMPANY, a California
corporation, herein called the Company, insures, as of Date of Policy shown in Schedule A, against loss or damage,
not exceeding the Amount of Insurance stated in Schedule Al sustained or incurred by the insured by reason of:
Title to the estate or interest described in Schedule A being vested other than as stated therein;
Any defect in or lien or encumbrance on the title;
Unmarketability of the title;
Lack of a right of access to and from the land.
The Company will also pay the costs, attorneys' fees and expenses incurred in defense of the title, as insured, but
only to the extent provided in the Conditions and Stipulations.
.`' Bronson Abstract Company, Inc.
3810 Front Street, Suite #5
Fayetteville, AR 72703
(479) 442-2700
Fax: (479) 442-8475
A Policy -Issuing Agent of First American Title Insurance Company
First American Title Insurance Company
• •
Policy No.J800488
SCHEDULE A File No.2001-12701
Amount of insurance: $263,200.00
Premium: SPECIAL
Date of Policy: DECEMBER 31, 2001 at 3:48 P.M.
1. Name of Insured:
THE CITY OF FAYETTEVILLE, ARKANSAS, a municipal corporation
2. The estate or interest in the land described herein and which is covered
by this policy is FEE SIMPLE and is at Date of Policy vested in:
3.
is
as
THE INSURED
The land referred to in this policy is described in the said instrument,
situated in the County of WASHINGTON, State of ARKANSAS, and is identified
follows:
A part of the East Twenty-five (25) feet of that portion of the Arkansas and
Missouri Railroad Company Main line 100 foot wide right of way upon, over and
across a portion of the W 1/2 NE 1/4 of Section 27 in Township 17 North, Range
30 West, being more particularly described as follows: Beginning at a point
1529.2 feet North of the South line of the NE 1/4 of Section 27, Township 17
North, Range 30 West and on the East right of way line of the Railway
Company's 100 foot right of way line; thence running South along the East
line of said Railroad Company's 100 foot right of way 1529.2 feet to the South
line of said NE 1/4, also known as the centerline of Van Asche Drive; thence
West perpendicular to the centerline of said railroad, a distance of 25 feet,
thence in a Northeasterly direction 1529.40 feet, more or less, to the point
of beginning, containing 19,115 square feet (0.439 acre), more or less,
subject to easements, leases and rights of way of record.
ALSO
COUNTERSIGNED BY:
bit
STATE LICENSE NO. IA14U AGENT LICENSE NO. SA140-01
/31•41.1441L-•
BRONSON ABSTRACT COMPANY, INC
3810 FRONT STREET, SUITE 5
FAYETTEVILLE, AR 72703
*********************************
FIRST AMERICAN TITLE
INSURANCE COMPANY
*********************************
• •
Policy No.J800488
The East twenty-five (25) feet of that portion of the Arkansas and Missouri
Railroad Company Main Line 100 foot wide right of way upon, over and across
the W 1/2 of the SE 1/4 of Section 27, the E 1/2 of Section 34, all in
Township 17 North, Range 30 West, and the North 3,636.7 feet, to an end point,
in the E 1/2 of Fractional Section 4, Township 16 North, Range 30 West, as
measured by the East right of way line of the Railroad Company's Main Line,
said end point also known as the centerline of Poplar Street, covering
10,707.3 feet in length and 267,682.5 square feet (6.145 acres), subject to
easements, leases and rights of way of record.
COUNTERSIGNED BY:
STATE LICENSE NO. IA140
BRONSON ABSTRACT COMPANY, INC
3810 FRONT STREET, SUITE 5
FAYETTEVILLE, AR 72703
AGENT LICENSE NO. SA140-01
*********************************
FIRST AMERICAN TITLE
INSURANCE COMPANY
*********************************
• •
Policy No.J800488
SCHEDULE B File No.2001-12701
This policy does not insure against loss or damage by reason of the following:
1
General taxes for the year 2000 and subsequent years not yet due and
payable.
2 Subject to reservations, easements, licenses, agreements, covenants,
conditions, rights of entry, and leases as shown heretofore reserved or
conveyed.
3 Rights or claims of parties in possession, boundary line disputes,
overlaps, encroachments, and any other matters not shown by the
public records which would be disclosed by an accurate survey and
inspection of the land described in Schedule A.
BRONSON ABSTRACT COMPANY, INC
3810 FRONT STREET, SUITE 5
FAYETTEVILLE, AR 72703
*********************************
FIRST AMERICAN TITLE
INSURANCE COMPANY
*********************************
015 04
Document
Reference
RES
Date
11/06/2001
Cyof Fayetteville
Maintenance/Inquiry
Item Action
Ref. Taken Brief Description
151
•
8/25/2004
10:04:32
PURCHASE ACRES/ARK. & MISSOURI RR
Keywords •
File Reference # •
Security Class
Expiration Date
Date for Cont/Referred:
Name Referred to
Cmdl-Return Cmd2-Check
Cmd5-Abstract Yes No
RES. 151
CONTRACT
6.58 ACRES
ARKANSAS AND MISSOURI RAILROAD
EXPANSION
GREGG AVENUE
FOUR LANE
TOWNSHIP
VAN ASCHE
MICROFILM
Retention Type:
**** Active ****
Press Cmd 6 to Update
Out Cmd8-Retention Cmd3-End Press 'ENTER' to Continue
(c) 1986-1992 Munimetrix Systems Corp.
Mlica3 uIM ED •
OFFER AND ACCEPTANCE CONTRACT
Es. /6/-D/
//-0&-DI
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 $263,200.00.
3. Contingent Earnest Money Deposit: The Buyer herewith tenders a check for
$ 4,000.00 to Arkansas and Missouri Railroad Company, a Virginia corporation,
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 fads 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 Quit Claim Deed, therein conveying
any and all rights of the Seller on an as -is basis, except it shall be subject to
recorded instruments, easements, leases and rights of way, 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 a title insurance company as selected by the Buyer. Buyer and Seller
shall share equally in the cost of such title insurance.
6. 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
7. 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 the closing date.
Off
Acc
Col
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OFFER AND ACCEPTANCE CONTRACT
Page2of5
8. The closing date is designated to be within Thirty (30) days after approval of this
Contract by the Fayetteville City Council. This Contract will submitted to the
Fayetteville City Council for approval within three weeks of the date of Seller
signature.
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 for the purpose of inspection and/or
surveying.
11. All fixtures, improvements and attached equipment are included in the purchase
price.
12. Risk of Toss 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. Buyer shall accept property described in Exhibit "A" on
an "as -is" basis.
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 llth day of October, 2001.
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 $4,000 00 EARNEST
MONEY DEPOSIT.
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OFFER AND ACCEPTANCE CONTRACT
Page 3 of 5
SELLER:
Arkansas and Missouri Railroad Company
BY:
47- a
Lawrence P. Bouchet, President
WITNESS:
c.
G. Brent McC eady, Senior vicefesident
BUYER:
City of Fayetteville, Arkansas,
a municipal corporation
Dan Goody, Mayor
Date: /0'V-&/
Date: I d — y— 01
Date: f04 3/0/
te Date: /04//
Bather Woodruff, City Cle
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OFFER AND ACCEPTANCE CONTRACT
Page 3a
ADDENDUM TO THE TERMS AND CONDITIONS OF THIS CONTRACT
Addendum No. 1
Seller asserts and Buyer hereby acknowledges that this offer is also expressly contingent
upon the assurance by Buyer that, after conveyance of the property, said property will not be
altered in any manner which would affect or otherwise compromise the operation of the
Seller's railroad upon the existing rail line, resulting from, but not limited to, changes in
drainage, alignment of the existing rail line, or otherwise, and further, that if any such
changes or alterations be made by Buyer after conveyance of the property which does so
affect or otherwise compromise the operation of the Seller's railroad, then Buyer shall be
responsible for any and all costs associated with correcting said alterations so that the
operation of Seller's railroad may be conducted in such a manner as existed prior to the sale
of the property described herein.
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OFFER AND ACCEPTANCE CONTRACT
Page 4 of 5
EXHIBIT "A"
PROPERTY DESCRIPTION
Gregg Avenue Proposed Right of Way Acquisition
A part of the East Twenty-five (25) feet of that portion of the Arkansas and Missouri Railroad Company Main
line 100 foot wide right of way upon, over and across a portion of the W% -NE'% of Section 27 in Townshipl7
North, Range 30 West, being more particularly described as follows: Beginning at a point 1529.2 feet North of
the South line of the NE% of Section 27, Township 17 North, Range 30 West and on the East right of way line
of the Railway Company's 100 feet right of way line; thence running South along the East line of said Railroad
Company's 100 foot right of way 1529.2 feet to the South line of said NE%, also known as the centerline of Van
Asche Drive; thence West, perpendicular to the centerline of said railroad, a distance of 25 feet; thence in a
Northeasterly direction 1529.40 feet, more or less, to the Point of Beginning, containing 19,115 ft2 (0.439 Acre),
more or less, subject to easements, leases and rights of way of record,
Also,
The East twenty-five (25) feet of that portion of the Arkansas and Missouri Railroad Company Main Line 100
foot wide right of way upon, over and across the W'/ of the SE'/. of Section 27, the E'% of Section 34, all in
Township 17 North, Range 30 West, and the North 3,636.7 feet, to an end point, in the E'/ of Fractional Section
4, Township 16 North, Range 30 West, as measured by the East right of way line of the Railroad Company's
Main Line, said end point also known as the centerline of Poplar Street, covering 10,707.3 feet in length and
267,682.5 ft2 (6.145 acres), subject to easements, leases and rights of way of record.
SIGNED FOR IDENTIFICATION:
SELLER:
Arkansas and Missouri Railroad Company
BY:
r iF
Lawrence P. Bouchet, President
BUYER:
The City of Fayetteville, Arkansas,
a municipal corporation
BY:
421Z
an Goody, Mayor 6
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OFFER AND ACCEPTANCE CONTRACT
Page 5 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 Dan Coody 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 CII day of,1"F, 7;40ex-- 2001.
MY COMMISSION EXPIR
&r --O/- 2010
Nota
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 Lawrence P. Bouchet
and G. Brent McCready, to me well known as the persons who executed the foregoing document, and
who stated and acknowledged that they are the President and Senior Vice -President and are duly
authorized to execute the foregoing instrument for and in the name and behalf of the Arkansas and
Missouri Railroad Company, a Virginia 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 46 day of a;a,C.-- 2001.
MY COMMISSION EXPIRES'
O.S—D/—EOM
efbArege
Notary Public
; 2
Iwtve
EDWARD D. CONNELL II
Washington County Ff
My Commission Expires
May 1,2010
4
,own
„»T`•`
EDWARD D. CONNELL
Washington County
My Commission Expires
May 1,2010
Nota
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 Lawrence P. Bouchet
and G. Brent McCready, to me well known as the persons who executed the foregoing document, and
who stated and acknowledged that they are the President and Senior Vice -President and are duly
authorized to execute the foregoing instrument for and in the name and behalf of the Arkansas and
Missouri Railroad Company, a Virginia 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 46 day of a;a,C.-- 2001.
MY COMMISSION EXPIRES'
O.S—D/—EOM
efbArege
Notary Public
; 2
Iwtve
EDWARD D. CONNELL II
Washington County Ff
My Commission Expires
May 1,2010
.•
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•
• •
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 $263,200.00.
3. Contingent Earnest Money Deposit: The Buyer herewith tenders a check for
$ 4,000.00 to Arkansas and Missouri Railroad Company, a Virginia corporation,
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 fads to close this transaction, the eamest 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 Quit Claim Deed, therein conveying
any and all rights of the Seller on an as -is basis, except it shall be subject to
recorded instruments, easements, leases and rights of way, 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 a title insurance company as selected by the Buyer. Buyer and Seller
shall share equally in the cost of such title insurance.
6. 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
7. 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 the closing date.
• •
OFFER AND ACCEPTANCE CONTRACT
Page 2 of 5
8. The closing date is designated to be within Thirty (30) days after approval of this
Contract by the Fayetteville City Council. This Contract will submitted to the
Fayetteville City Council for approval within three weeks of the date of Seller
signature.
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 for the purpose of inspection and/or
surveying.
11. All fixtures, improvements and attached equipment are included in the purchase
price
12. Risk of Toss 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. Buyer shall accept property described in Exhibit "A" on
an "as -is" basis.
14. This agreement shall be govemed 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 11th day of October, 2001.
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 $4,000 00 EARNEST
MONEY DEPOSIT.
•
OFFER AND ACCEPTANCE CONTRACT
Page 3 of 5
SELLER:
Arkansas and Missouri Railroad Company
BY:
%az— 4%itetei
Lawrence P. Bouchet, President
WITNESS:
%\t"^\seG. Brent Mady, Senior viceitesident
BUYER:
City of Fayetteville, Arkansas,
a municipal corporation
Dan Coody, Mayor
either Woodruff, City Cle
•
r
Date: /0 ' y d/
Date: Ea - }- 01
Date: RIO 34/
Date: /O4%/
• •
OFFER AND ACCEPTANCE CONTRACT
Page 3a
ADDENDUM TO THE TERMS AND CONDITIONS OF THIS CONTRACT
Addendum No. 1
Seller asserts and Buyer hereby acknowledges that this offer is also expressly contingent
upon the assurance by Buyer that, after conveyance of the property, said property will not be
altered in any manner which would affect or otherwise compromise the operation of the
Seller's railroad upon 'the existing rad line, resulting from, but not limited to, changes in
drainage, alignment of the existing rail line, or otherwise, and further, that if any such
changes or alterations be made by Buyer after conveyance of the property which does so
affect or otherwise compromise the operation of the Seller's railroad, then Buyer shall be
responsible for any and all costs associated with correcting said alterations so that the
operation of Seller's railroad may be conducted in such a manner as existed pnor to the sale
of the property described herein.
eil
iyg /6-
A
OFFER AND ACCEPTANCE CONTRACT
Page 4 of 5
EXHIBIT "A"
PROPERTY DESCRIPTION
Gregg Avenue Proposed Right of Way Acquisition
A part of the East Twenty-five (25) feet of that portion of the Arkansas and Missouri Railroad Company Main
line 100 foot wide right of way upon, over and across a portion of the W:4 -NE'/. of Section 27 in Townshipl7
North, Range 30 West, being more particularly described as follows: Beginning at a point 1529.2 feet North of
the South line of the NE% of Section 27, Township 17 North, Range 30 West and on the East right of way line
of the Railway Company's 100 feet right of way line; thence running South along the East line of said Railroad
Company's 100 foot right of way 1529.2 feet to the South line of said NE'., also known as the centerline of Van
Asche Drive; thence West, perpendicular to the centerline of said railroad, a distance of 25 feet; thence in a
Northeasterly direction 1529.40 feet, more or less, to the Point of Beginning, containing 19,115 ft2 (0.439 Acre),
more or less, subject to easements, leases and rights of way of record,
Also,
The East twenty-five (25) feet of that portion of the Arkansas and Missouri Railroad Company Main Line 100
foot wide right of way upon, over and across the W% of the SE% of Section 27, the E'r4 of Section 34, all in
Township 17 North, Range 30 West, and the North 3,638.7 feet, to an end point, in the E% of Fractional Section
4, Township 16 North, Range 30 West, as measured by the East right of way line of the Railroad Company's
Main Line said end point also known as the centerline of Poplar Street, covering 10,707.3 feet in length and
267,682.5 ft2 (6.145 acres), subject to easements, leases and rights of way of record.
SIGNED FOR IDENTIFICATION:
SELLER:
Arkansas and Missoun Railroad Company
BY:
Lawrence P. Bouchet, President
BUYER:
The City of Fayetteville, Arkansas,
a municipal corporation
BY:
an Coody, Mayor
Er
Pr
DI
k
i SLED FOR RECO/•
'01 DEC 31 P11 3 41
WASHINhiuN CO AR
B STAMPS
44b t (f. 19-01
rs'Cr? ' 'T /pro rtify under penalty of false swearing that
Aiu1i�-dst1 s.u,;•��I�j�.; d , least the legally correct amount of
documentary stamps have been placed on
this instrument.
Cxti--% 4:2P
Grantee voy��y`y,¢ Via--
Address
0.Address \\a.> t� Vasco. ..... yi
QUITCLAIM DEED
(Corporation)
KNOW ALL MEN BY THESE PRESENTS:
That the Arkansas and Missouri Railroad Company, Inc., a corporation organized under and
by virtue of the laws of the State of Virginia, with its principal office located in Springdale,
Washington County, Arkansas, by its President and Senior Vice -President, for the consideration of
One Dollar and other valuable consideration, to it in hand paid by The City of Fayetteville, Arkansas,
a municipal corporation, the receipt of which is hereby acknowledged, does grant, sell and quitclaim
unto the said Grantee, its successors and assigns, the following described land situate in Washington
County, State of Arkansas, to -wit:
A part of the East Twenty-five (25) feet of that portion of the Arkansas and Missouri
Railroad Company Main line 100 foot wide right of way upon, over and across a portion of
the W Y2 -NE'/ of Section 27 in Township 17 North, Range 30 West, being more particularly
described as follows: Beginning at a point 1529.2 feet North of the South line of the NE'
of Section 27, Township 17 North, Range 30 West and on the East right of way line of the
Railway Company's 100 feet right of way line; thence running South along the East line of
said Railroad Company's 100 foot right of way 1529.2 feet to the South line of said NE%,
also known as the centerline of Van Asche Drive; thence West, perpendicular to the
centerline of said railroad, a distance of 25 feet; thence in a Northeasterly direction 1529.40
feet, more or less, to the Point of Beginning, containing 19,115 ft2 (0.439 Acre), more or less.
Also,
The East twenty-five (25) feet of that portion of the Arkansas and Missouri Railroad
Company Main Line 100 foot wide right of way upon, over and across the W1/2 of the SEY
of Section 27, the E1/2 of Section 34, all in Township 17 North, Range 30 West, and the North
3,636.7 feet, to an end point, in the E1/2 of Fractional Section 4 Township 16 North, Range
30 West, as measured by the East right of way line of the Railroad Company's Main Line,
said end point also known as the centerline of Poplar Street, covering 10,707.3 feet in length
and 267,682.5 ft2 (6,145 acres), more or less.
Subject to easements, rights-of-way and restrictive covenants of record, if any.
TO HAVE AND TO HOLD unto the said Grantee and unto its successors and assigns,
forever, with all appurtenances thereunto belonging.
IN TESTIMONY WHEREOF, The name of the grantor is hereunto affixed by its President
and Senior Vice -President this 31st day of December, 2001.
S FATE OF ARKANSAS
Lawrence P. Bouchet, President,
Arkansas and Missouri Railroad Company, Inc.
G. Brent McCrea ly, S'nior Vice -Pr 'dent,
Arkansas and Missouri Railroad Comp Inc.
ACKNOWLEDGMENT
) ss.
COUNTY OF WASHINGTON )
200117218B