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HomeMy WebLinkAbout143-03 RESOLUTIONRESOLUTION NO. 143-03 A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE CONTRACT BETWEEN THE CITY OF FAYETTEVILLE AND DONALD R. WILLIAMS AND SHARLENE WILLIAMS, AND JAMES R. WILLIAMS AND NEELEY J. WILLIAMS FOR THE PURCHASE OF PROPERTY LOCATED AT THE NORTHEAST CORNER OF MT. COMFORT ROAD AND SHILOH DRIVE FOR THE AMOUNT OF THREE HUNDRED THIRTY ONE THOUSAND EIGHT HUNDRED NINETY-THREE DOLLARS AND SIXTY-FIVE CENTS ($331,893.65) TO ALLOW FOR FUTURE INTERSECTION IMPROVEMENTS; AND APPROVING A BUDGET ADJUSTMENT IN THE AMOUNT OF THREE HUNDRED THIRTY-SEVEN THOUSAND SIX HUNDRED FIFTY- NINE DOLLARS ($337,659.00) FOR SAME. 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 an Offer and Acceptance contract between the City of Fayetteville and Donald R. Williams and Sharlene Williams, and James R. Williams and Neeley J. Williams for the purchase of property located at the northeast corner of Mt. Comfort Road and Shiloh Drive for the amount of Three Hundred Thirty One Thousand Eight Hundred Ninety -Three Dollars and Sixty - Five Cents ($331,893.65) to allow for future intersection improvements. A copy of the contract is attached hereto marked Exhibit "A" and made a part hereof. Section 2. That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment in the amount of Three Hundred Thirty - Seven Thousand Six Hundred Fifty -Nine Dollars ($337,659.00) for same. PASSED and APPROVED this 16th day of September, 2003. F Fkic(\ APPROVED. SONDRA SMITH, C. Clerk By DAN COODY, Mayor • OFFER AND ACCEPTANCE CONTCT 1. The City of Fayetteville, Arkansas, a municipal corporation 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 $ 331,893 65. 3. Contingent Eamest Money Deposit: The Buyer herewith tenders a check for $1,000.00 to Donald R. Williams and Sharlene Williams, husband and wife, and James R Williams and Neeley J. Williams, husband and wife, together referred to as SELLER, as earnest money, which shall apply on the purchase pnce. 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 City of Fayetteville by the Seller If title requirements are not fulfilled or the Seller fails to fulfill any obligations under this contract, the eamest money shall be promptly refunded to the City of Fayetteville If the City of Fayetteville fails to fulfill his obligations under this contract or after all conditions have been met, the City of Fayetteville fails to close this transaction, the eamest money may, at the option of the Seller, become liquidated damages to the Seller. 4. Conveyance will be made to the City of Fayetteville by general Warranty Deed, except it shall be subject to recorded instruments and easements, if any, which do not materially affect the value of the property. Such conveyance shall include mineral rights owned by the Seller. 5. The Seller shall furnish, a policy of title insurance in the amount of the purchase pnce from a title insurance company as selected by the City of Fayetteville. The cost of said title insurance policy shall be borne by the City of Fayetteville.. 6. Seller agrees to allow the City of Fayetteville, if the City of Fayetteville so desires and at the City of Fayetteville'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 pnor to closing to the satisfaction of the City of Fayetteville. 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 closing. The closing date shall occur within two(2) days after approval of the contract by the Fayetteville City Council. This contract shall be submitted to the Fayetteville City Council for consideration on the 16th day of September, 2003. 9. Possession of the property shall be delivered to the City of Fayetteville on the date of closing. • OFFER AND ACCEPTANCE ONTRACT Page 2 of 5 10. Seller hereby grants permission for the City of Fayetteville or its employees or designates to enter the above described property and improvements for the purpose of inspection and/or surveying. 11. All fixtures, improvements and attached equipment are included in the purchase price. 12. Risk of loss or damage to the property by fire or other casualty occurring up to the time of closing is assumed by the Seller. 13. Seller shall disclose to City of Fayetteville any and all environmental hazards of which Seller has actual knowledge. Upon acceptance of all conditions and terms of this Offer and Acceptance, City of Fayetteville and Seller shall share equally the costs of any and all testing for the existence of environmental hazards. Should the existence of environmental hazards be known or determined, Seller shall cure such, at Seller's expense, or in the alternative, at City of Fayetteville's discretion, City of Fayetteville may cure such environmental hazard, and Seller shall indemnify City of Fayetteville for all costs associated with said cure. 14. This agreement shall be governed by the laws of the State of Arkansas. 15. This agreement, when executed by both the Administration of the City of Fayetteville 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 by the Seller on or before the 7th day of September, 2003. 17. NOTICE: CITY OF FAYETTEVILLE 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 THE CITY OF FAYETTEVILLE OF THE $1,000 EARNEST MONEY DEPOSIT. OFFER AND ACCEPTANCE ONTRACT Page 3 of 5 SELLER: AGENT OR WITNESS: City of Fayetteville, Arkansas: a municipal corporation Dan Coody, Mayor Sondra Smith, City Clerk Date: 9 -Li-03 Date: "!/4/6J Date: M/O 3 Date: 9 -o3 Date: Date: Date: 973/03 • II OFFER AND ACCEPTANCE CONTRACT Page 5 of 5 STATE OF ARKANSAS COUNTY OF WASHINGTON ) ) ) ACKNOWLEDGMENT 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 Donald R. Williams and Sharlene Williams, husband and wife, and James R Williams and Neeley Williams, husband and wife, to me well known as the person who executed the foregoing document, 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 1 day off,- AtfiLtic 2003. MY COMMISSION EXPI Ctf EDWARD D. CONNELL WsthYgtam County My Ca flsston Expires Mg 1, 2010 ��%���ls�dr:�d!Gli� Notary Public STATE OF ARKANSAS COUNTY OF WASHINGTON ) ) ) ACKNOWLEDGMENT ss 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 Sondra Smith, to me well known as the person 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 'r day o MY COMMISSION EX D o?O f 7—copilot--; 2003. rLeY ///.l�if�G Notary Public • • Ill OFFER AND ACCEPTANCE ONTRACT Page 4 of 5 File 1•10. 2003-00015321 Tract 1: ti EXHIBIT "A" PROPERTY DESCRIPTION Part of the Northeast Quarter(NE'/.) of then Southeast Quarter (SE%) of Section Six (6), Township Sixteen (16) North, Range Thirty (30) west, and being more particularly described as follows, to -wit: Beginning at the Northeast comer of the said 40 acre tract, and running thence South 00° 12' 44" East 130.64 feet; thence South 79° 04' 00" West 7.77 feet to a point on the East Right -of -Way line of Mt. Comfort Road; thence along said East Right -of - Way line for 201.64 feet along a curve to the left having a radius of 314.5 feet, a delta angle of 36° 48' 47" and a leading tangent bearing of North 29° 50' 26" West; thence East 155.15 feet to the point of beginning, containing 0.20 acre, more or less. and Part of the Northwest Quarter(NW'/.) of then Southwest Quarter (SW'/.) of Section Five (5), Township Sixteen (16) North, Range Thirty (30) west, and being more particularly described as follows, to -wit: Beginning at the Northwest corner of the said 40 acre tract; thence North 89° 23' 00" East along the North line thereof a distance of 297.2 feet to a point on the Westerly Right - of -Way line of U. S. Highway 71(now U.S. Highway 540); thence South 50° 54' 00" West along said right-of-way line a distance of 161.2 feet to a point; thence South 78° 38' 00" West along said Right -of -Way line a distance of 173.8 feet to a point on the West line of the Northwest Quarter (NW%) of the Southwest Quarter (SW%) of Section Five (5); thence North 00° 43' 00" West along said West line a distance of 132.7 feet to the point of beginning, containing 0.61 acre, more or less. SIGNED FOR IDENTIFICATION: SELLER: /r^i Donald R. Williams a tJames R. Williams The City of Fayetteville, Arkansas, a municipal corporation O. City of Fayetteville, Arkansas Budget Adjustment Form •. Budget Year 2003 Department Division: Program: Community Planning & Engineering Community Planning & Engineering Sales Tax Capital Improvements Date Requested 9/16/2003 Adjustment Number Project or Item Requested: $337,659 is requested in the Mount Comfort/Shiloh Intersection capital project. Project or Item Deleted: $337,659 from the Betty Jo Drainage Improvements capital project. Justification of this Increase: The funding is needed to cover the purchase of property located at the northeast comer of Mount Comfort Road and Shiloh Drive in the amount of $331,893.65. The additional budget is to cover other closing costs and land agent salaries Justification of this Decrease: The project was performed in-house by the Transportation Division during 2002/2003. Increase Budget (Decrease Revenue) 1' Account Name Account Number Land acquisition 4470 9470 5805 00 Account Name Bridge & drainage improve Decrease Budget (Increase Revenue) Account Number 4470 9470 5817 00 Amount Project Number 337,659 03030 1 Amount Project Number 337,659 02022 1 Approval Signatures R ues By Budget Man er Date Date 9 -ft -03 Depart ent Director 4Avnii* Finance : Internal Services Dircc dit Mayor Date Data Date Type. A Budget Office Use Only B C CMD E Date of Approval Posted to General Ledger Posted to Project Accounting Entered in Category Log Initial Initial Initial Initial Date Date Date Date • MEC Rt I[ILMIED • 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 A, 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 #5 Fayetteville, AR 72703 (501) 442-2700 Fax (501) 442-8475 Title Insurance Company First American Title Insurance Company E r oQ�000 O O a o Ga o O % O9©boo p4 Q 00000000000�d/'�E' r A Is I �- •�1.T�1� �,M�,��,�11� � ��,TEA.�i�,},���.�,�,?.�M�A+.,�.(2j �'c� .{Aj� �,�� � � � � ���'��., \� . _ EXCLUSIONS FROM COVERAGE The following matters are expressly excluded from the coverage of this policy and the Company will not pay loss or damage, costs, attorneys' fees or expenses which arise by reason of: 1. (a) Any jaw, ordinance or governmental regulation (including but not limited to building and zoning laws, ordinances, or regulations) restricting, regulating, prohibiting or relating to (i) the occupancy, use, or enjoyment of the land; (ii) the character, dimensions or location of any improvement now or hereafter erected on the land; (ii) a separation in ownership or a change in the dimensions or area of the land or any parcel of which the land is or was a part; or (w) environmental protection, or the effect of any violation of these laws, ordinances or govemmental regulations, except to the extent that a notice of the enforcement thereof or a notice of a defect. lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. (b) Any governmental police power not excluded by (a) above, except to the extent that a notice of the exercise thereof or a notice of a defect. lien or encumbrance resulting from a violation or alleged violation affecting the land has been recorded in the public records at Date of Policy. 2. Rights of eminent domain unless notice of the exercise thereof has been recorded in the public records at Date of Policy, but not excluding from coverage any taking which has occurred prior to Date of Policy which would be binding on the rights of a purchaser for value without knowledge. 3. Defects. liens, encumbrances, adverse claims or other matters: (a) created, suffered, assumed or agreed to by the insured claimant; (b) not known to the Company, not recorded in the public records at Date of Policy, but known to the insured claimant and not disclosed in writing to the Company by the insured claimant prior to the date the insured claimant became an insured under this policy; (c) resulting in no loss or damage to the insured claimant; (d) attaching or created subsequent to Date of Policy: or (e) resulting in loss or damage which would not have been sustained if the insured claimant had paid value for the estate or interest insured by this policy. 4. My claim, which arises out of the transaction vesting in the Insured the estate or interest insured by this policy, by reason of the operation of federal bankruptcy, state insolvency, or similar creditors' rights laws. that is based on: (i) the transaction creating the estate or interest insured by this policy being deemed a fraudulent conveyance or fraudulent transfer; or Cu) the transaction creating the estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (a) to timely record the instrument of transfer; or (b) o1 such recordation to impart notice to a purchaser for value or a judgment or lien creditor. 1. DEFINmON OF TERMS. The following terms when used in this policy mean: (a) 'insured': the insured named in Schedule A, and. subject to any rights or defenses the Company would have had against the named insured, those who succeed to the interest oI the named insured by operation of law as distinguished from purchase including but not limited to. heirs, distnbutees. devisees. survivors, personal representa- tives. next of kin, or corporate or fiduciary successors. (b) 'insured claimant': an insured claiming loss or damage. (c) 'knowledge' or 'known': actual knowledge, not constructive knowledge or notice which may be imputed to an insured by reason Of the public records as defined in this policy or any other records which impart constructive notice of matters affecting the land. (d) 'land" the land described or referred to in Schedule (A). and improvements effaced thereto which by law constitute real property. The teen 'land' does not inctude any property beyond the lines of the area described or referred to in Schedule (A). nor any right, tale, interest. estate or easement in abutting streets. roads. avenues. aneys, lanes. ways or waterways, but nothing herein shall modify or limit the extent to which a right of access to and from the land is insured by this policy. (e) 'mortgage': mortgage, deed of trust trust deed. ar other security instrument. (f) 'public records': records established under state statutes at Date of Policy for the purpose of imparting constructive notice of matters relating to real property to purchasers for value and without knowledge. WM respect to Section 1(a)(w) of the Exclusions From Coverage, 'public records' shall also incude environmental protection bens filed in the records oI the clerk of the United States district court for the district in which Me land is located. (9) Vnmarketabikty of the title': an alleged or apparent matter affecting the title t0 the land. not excluded or excepted from coverage, which would entitle a purchaser of the estate or interest described in Schedule A to be released from the obligation to purchase by virtue of a contractual condition requiring the delivery of marketable title. 2. CONTINUATION OF INSURANCE AFTER CONVEYANCE OF TIRE The coverage of this pokey shah continue in force as of Date of Policy in favor of anlhsured only so long a insured retains an estate or igierest in tit a land, or h indebtedness secured by a purchase money mortgage give by a purchaser from the insured, or only s0 long as the insured shall have liability by reason of covenants of warranty made by the insured in any transfer or conveyance of the estate or interest. This policy shall not continue in force in favor of any purchaser from the insured sf either (i) an es or interest in the land. or (ii) an indebtednqss secured purchase money mortgage given to the insured. 3. NOTICE OF CLAIM TO BE GIVEN BY INSURED CLAIMANT. CONDITIONS AND STIPULATIONS by this policy which constitutes the basis of loss or damage and shall state. to the extern possible, the basis of calculating the amount of the loss or damage. 11 the Company is prejudiced by the failure of the insured claimant to provide the required proof of loss or damage, the Companys obligations to the insured under the policy shall terminate, including any liabdiy or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such proof of loss or damage. In addition, the insured claimant may reasonably be required to submit to examination under oath by any authorized representative of the Company and shad produce for examination, inspection and copying. at such reasonable times and places as may be designated by any authonzed representative of the Company, all records, books. ledgers, checks, correspondence and memoranda. whether bearing a date before or after Date of Policy, which reasonably pertain to the loss or damage. Further, if requested by any authorized representative of the Company. the insured claimant shad grant its permission. in writing. for any authonzed rep- resentative of the Company to examine, inspect and copy all records, books. ledgers. checks. correspondence and mem- oranda in the custody or control of a third parry. which reasonably pertain to the Toss or damage. All information designated as confidential by the insured claimant provided to the Company pursuant to this Section shall not be disclosed to otters unless. in the reasonable judgment of the Company. it is necessary in the administration of the claim. Failure of the insured claimant to submit for examination under oath. produce other reasonably requested information or grant permission to secure reasonably necessary informa- tion from third parties as required in this paragraph, unless prohibited by law or governmental regulation, shall terminate any liability of the Company under this policy as to that claim. 6. OPTIONS TO PAY OR OTHERWISE SETTLE CLAIMS; TFAMINATION OF LIABILITY. In case of a claim under this policy. the Company shall have the following additional options: (a) To Pay or Tender Payment of the Amount of Insurance. To pay or tender payment of the amount of insurance under this policy together with any costs. attorneys' fees and expenses incurred by the insured claimant, which were authorized by the Company, up to the time of payment or tender of payment and which the Company is obbgated t0 Day. Upon the exercise by the Company of this optio liability and obligations to the insured under this policy. n to make the payment required, shall terminate, incl any lability or obligation 10 defend, prosecute. or continu arty litigation. and the policy stall be surrendered to the Company for cancellation. (b) To Payor Otherwise Settle With Parties Other N e Insured or Wnh the Insured Claimant. 0) to pay or otherwise settle with other partir or in the name of an insured claimant any claim in against under this policy, together with any costs, attorneys' fees and menses incurred by the insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay; or (ii) to pay or otherwise settle with the insured claimant the loss or damage provided for under this policy, together with any costs, attorneys' fees and expenses incurred byte insured claimant which were authorized by the Company up to the time of payment and which the Company is obligated to pay. Upon the exercise by the Company of either of the options provided for in paragraphs (b)(i) or (ii). the Com- panys obligations to the insured under this policy for the claimed loss or damage. other than the payments required to be made, shall terminate, including any liability or obligation to defend, prosecute or continue any litigation. The insured shall notify the Company promptly in writing (i) in case o1 any litigation as set forth in Section 4(a) below, (ii) in case knowledge shall come to an insured hereunder of any claim of btle or interest which is adverse to the title to the estate or interest, as insured, and which might cause loss or damage tor which the Company may be liable by virtue of this policy, or (ii) if title to the estate or interest, as insured, is rejected as unmarketable. If prompt notice shall not be given to the Company. then as to the insured all liability of the Company shall terminate with regard to the matter or matters for tech prompt notice is required: provided, however. that failure to notify the Company shag in no case prejudice the rights of any insured under this policy unless the Company shall be prejudiced by the failure and then only to the extent of the prejudice. 4. DEFENSE AND PROSECUTION OF ACTIONS; DUTY OF INSURED CLAIMANT TO COOPERATE. (a) Upon written request by Me insured and subject to the options contained in Section 6 of these Conditions and Stipulations, the Company, at its own cost and without unreasonable delay, shall provide for the defense of an insured in litigation in which any third party asserts a claim adverse to the title ar interest as insured. but only as to those stated causes oI action alleging a defect, lien or en- cumbrance or other matter insured against by this policy. The Company shall have the right to select counsel of its choice (subject to the right of the insured to object for reasonable cause) to represent the insured as to those stated causes of action and shag not be liable tor and will not pay the fees of any other counsel. The Company wnll not pay any fees. costs a expenses incurred by the insured in the defense of those causes of action which allege matters not insured against by this policy. (b) The Company shall have the right. at its own cost. to institute and prosecute any action or proceeding or to do any other act which in its opinion may be necessary or desirable to establish the title to the estate or interest, as insured, or to prevent or reduce loss or damage to the insured. The Company may take any appropriate action under the terms of this policy, whether or not it shall be liable hereunder, and shall not thereby concede liability or waive any provision of this policy. tt the Company shall exercise its rights under this paragraph, it shall do so diligently. (c) whenever the Company shall have brought an action a interposed a defense as required or permitted by the provisions of this policy. the Company may pursue any litigation to final determination by a court of competent jurisdiction and expressly reserves the right in its sole discretion, to appeal from any adverse judgment or order. (0) In an cases where this policy permits or requires the Company to prosecute or provide tor the defense of any action or proceeding. the insured shall secure to the Company the right to so prosecute or provide defense in the action or proceeding, and all appeals therein, and pmmit the Company to use. at its option, the name of the insured for this purpose. Whenever requested by the Company, the insured, at the Company's expertise, shall give the Company all reasonable aid () in any action or proceeding, securing evidence, obtaining witnesses, prosecuting or defending the action or proceeding, or effecting settlement, and (ii) in any other lawhii act which in the opinion of Inc Company may be necessary or desirable to establish the title to the estate or interest as insured. H the Company is prejudiced by the failure of the insured to Nmish the required cooperation, the Companys obligations to the insured under the policy shall terminate, including any liability or obligation to defend, prosecute, or continue any litigation, with regard to the matter or matters requiring such cooperation. 5. PROOF OF LOSS OR DAMAGE. In addition to and after the notices required under Section 3 of these Conditions and Stipulations have been provided the Company, a proof of loss or damage signed and sworn to by the insured claimant shall be furnished to the Company whin 90 days after the insured claimant shag ascertain the facts giving rise to the 1055 or damage. The proof of loss or damage shag describe Me defect in. or hen or encumbrance on the title, or other matter insured against 7. DETERMINATION, EXTENT OF LIABILITY AND COINSURANCE. This pokey is a contract of indemnity against actual monetary loss or damage sustained or incurred by the insured claimant who has suffered loss or damage by reason of matters insured against by this policy and only to the extent herein described. (a) The liability of the Company under this policy shall not exceed the least of (i) the Amount of Insurance stated in Schedule A: or (ii) the difference between the value of the insured estate or interest as insured and the value of the insured estate or interest subject to the detect, lien or encumbrance insured against by this policy. (b) In the event the Amount of Insurance stated in Schedule A at the Date of Policy is less than 80 percent of the value of Me insured estate or interest or the hill consideration paid for the land, whichever is less or if subsequent to Me Date of Policy an improvement is erected on the land which increases the value of the insured estate or interest by al least 20 percent over Inc Amount of Insurance stated in Schedule A. then this Policy is subject to the following: (i) where no subsequent improvement has been made, as to any partial loss, the Company shall any pay the joss pro rata in the proportion that the Amount of Insurance at Date of Policy bears to the total value o1 the insured estate or interest at Date of Policy: or (ii) where a subsequent improvement has been made. as to any partial loss, the Company shall only pay the loss pro rata in the proportion that 120 percent of the Amount of Insurance stated in Schedule A bears to the sum of the Amount of Insurance stated in Schedule A and the amount expended for the improvement The provisions of this paragraph shall not apply to costs, attorneys' fees and expenses for which the Company is liable under this policy, and snail only appy to that portion of any loss which exceeds, in the aggregate. 10 percent of the Amount of Insurance stated in Schedule A. (c) The Company will pay only those costs, attorneys' fees and expenses incurred in accordance with Section 4 of (hese Conditions and Stipulations. 6. APPORTIONMENT. lithe land described in Schedule (A)(C) consists of two or more parcels which are not used as a single site. and a loss is established affecting one or name of the parcels but not all, the loss shall be computed and settled on a pro rata basis as i1 the Amount of Insurance under this policy was divided pro rata as to the value on Date of Policy of each separate parcel to the whole, exclusive of any improvements made sub- sequent to Date of Policy, unless a babirty or value has otherwise been agreed upon as to each parcel by the Company and the insured at the time of the issuance of this policy and shown by an express statement or by an endorsement attached to this policy. 9. LIMITATION OF LIABILITY, (a) lithe Company establishes the title. or removes the alleged defect, lien or encumbrance. or cures the lack of a ngM of access to a from the land, or cures the claim of unmarketabiliy of title, all as insured, in a reasonably diligent manner by any method. including litigation and the comple- tion of any appeals therefrom, 1 shah have fully performed its obligations with respect to that matter and shag not be gable for any loss or damage caused thereby. (b) In the event of any litigation. including litigation by the Company or with the Companys consent. the Company shall have no liability far loss or damage until there has been a final determination by a court of competent jurisdiction, and disposition of an appeals therefrom, adverse to the tide as insured. (c) The Company shall not be liable for loss or damage to any insured for liability voluntarily assumed by the insured in settling any claim or suit without the prior written consent of the Company. 10. REDUCTION OF INSURANCE; REDUCTION OR TERMINATION OF LABILITY. All payments under this policy, except payments made for costs. attorneys' fees and expenses, shall reduce the amount of the insurance pro tanto. 11. LABILfY NONCUMULATIVE. It is expressly understood that the Amount of In- surance under this policy shall be reduced by any amount the Company may pay under any policy insuring a mortgage to which exception is taken in Schedule B or to which the insured has agreed, assumed, or taken subject, or which is hereafter executed by an insured and which is a charge or lien on the estate or interest described or referred to in Schedule A, and the amount so paid shall be deemed a payment under this policy to the insured owner. 12. PAYMENT OF LOSS. (a) No payment shall be made without producing this policy for endorsement of the payment unless the policy has been lost or destroyed, in which case proof of loss or destruction shall be furnished to the satisfaction of the Company. (b) When liability and the extent of loss or damage has been definitely fared in accordance with these Conditions and Stipulations, the loss or damage shat be payable within 30 days thereafter. 13. SUBROGATION UPON PAYMENT OR SETTLEMENT. , (a) The Company's Right of Subagation. Whenever the Company shall have settled and paid a claim uMer this policy, an right of subrogation shall vest in the Company unaffected by any act of the insured claimant. The Company shall be subrogated to and Ng entitled to all rights and remedies which the insured claimant would have had against any person or property in respect to the claim had this pobcy not been issued. If requested by the Company. the insured claimant shall transfer. 10 the Company all rights and remedies against any person or property necessary in order to perfect this right of subrogation. The insured claimant snarl permit the Company to sue, compromise ar settle in the name of the insured claimant and to use the name 01 the insured claimant in any transaction or litigation invoMng these rights or remedies. If a payment on account of a claim does not fully cover the loss of the insured claimant. the Company shall be subrogated to these rights and remedies in the proportion which the Companys payment bears to the whole amount of the loss. U loss should result from any act of the insured claimant, as stated above. that act shall not void this policy. but the Company, in that event shall be required to pay only that part of any losses insured against by this policy which shall exceed the amount, if any. lost to the Company by reason of the impairment by the insured claimant of the Companys right of subrogation. (b) The Company's Rights Against nom -Insured Obllgon. The Companys right of subrogation against non- insured obligors shall exist and shall include, without limitation. the rights of the insured to indemnities, guaranties, other policies of insurance or bonds, notwithstanding any terms or conditions contained in those instruments which provide tor subrogation rights by reason of this policy. 14. ARBrTRAT1ON. Unless prohibited by applicable law, either the Com- pany or the insured may demand arbitration pursuant to the Tile Insurance Arbitration Rules of the American Arbitration Association. Arbitrable matters may include, bre are not kmted to. any controversy or claim between the Company and the insured arising out 01 or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. All arbitrable matters when the Amount of Insurance i5 S1, 000,000 or less shag be arbitrated at the option of either the Company or the insured. All arbitrable matters when the Amount of Insurance is in excess of S1,000,000 shall be arbitrated only when agreed to by both the Company and the insured. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at Me option of the insured, the Rules in effect at Date of Policy stall be binding upon the parties. The award may include attorneys' lees only t Inc laws of the state in wltich the land is located permit a court to award attorneys' tees to a prevailing party Judgment upon Me award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of Me land shag apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request 15. LIABILITY LIMITED TO THIS POLICY; POUCY ENTIRE CONTRACT. (a) This policy together with ah endorsements, t any, attached hereto by the Company Is the entre policy and contract between the insured and the Company. In interpret- ing any provision of this policy, this policy shall be construed as a whole. (b) Any claim of loss or damage, whether or not based on negligence, and which arises out of the status of the title to the estate or interest covered hereby or by any action asserting such claim. shall be restricted to this policy. (c) No amendment of or endorsement to this policy can be made except by a writing endorsed hereon or attached hereto signed by ether the President a Vice Resident. the Secretary, an Assistant Secretary, or validating officer or authorized signatory of the Company. 16. SEVERABILITY. In the event any provision of the policy is held invalid or unenforceable under applicable law. the policy shall be deemed not to include that provision and all other provisions shah remain in hill face and effect. 17. NOTICES, WHERE SENT. Al meas replied b be poen to Compri), ore any uaerrea In Nog required b be kanshed the Carry std iO,de the ranter of as pity end she be adtused b the Carpary at 1 Fist Amakar fry, Saw Ana Can' 92707. abdegep Nidi lased iso pdreq. IIZ68L r Lfuedruoj aauelnsuj aprj ueaxJaruv'agar luvdwod aauvansul ap71 unauazunsatg q Lue6y !t�C 9Lt8-ett (1.09) xej tid ooLZ-Zfl (Los) bra COLZL HV'alllnaBaAej SN Iaa11S Wad 018E •'0NI'ANVdiN0010V81S9V NOSNO8S ,s.a a -suopelnd!S pue suolypuo0 aq1 uI papinoJd luajxa NI 04 Apo O jnq 'pamsul se 'apq 914410 asuajap ul paJJnoul sasuedxe pue seal ,s ewolje 'sjsoo aqj Aed osle )IgM Auedwo0 aql 'puel ail wo11 pue.oj ssaooe 10 1116p e 10 Noel � 'apj ail l0 Aij gempewu0 a:eon 0E4 uo aoueJgwnoue JO tall JO ul loalap Auy C? a 'ulaiagl palels se um Jaglo mon 6ulaq y wimps uI pagposap Iseult! alma ail of al1!i ' L :lo uoseei Aq pamsul ail Rq paJJnOul Jo paulejsns 'y alnpagos uI palels aouemsul 101unowy aql 6ulpaa0xe jou • 'getup JO ssol jsuleOe 'y alnpagoS Li! uMogs Rollod to amp 10 se 'semsul 'Auedwo0 9144 palled ulaJaq 'uolleiodJoo elwonlle0 a ANVdW00 3ONV8f1SNI 31111 NVOIHJLNV 1SBII3 'SN011ylfldllS INV SNOIlIONOO 3H1 CINV 9 ✓ 31f103H0S NI p3NIy1N00 39V83A00 NOW SNOIld3OX3 3H1'39V83A00 NOW SN01Sf11OX3 1-11 01 103(111S a a a Qa ZURCIg.1103 aaurrt&n isuup 21 j zuE9au u'wy $01.112 w ,(g lod s,iauM VIM/ (Z6/Ll/0l) Z6'ZOVl 'ON tugs r • CEL 111 • • • • Policy No.J 789211 SCHEDULE A File No.FATIC 2003-14795 Amount of insurance: $331,893.65 Premium: STANDARD Date of Policy: SEPTEMBER 23, 2003 at 7:44 A.M. 1. Name of Insured: 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: THE INSURED 3. The land referred to in this policy is described in the said instrument, is situated in the County of WASHINGTON, State of ARKANSAS, and is identified as follows: Part of the Northeast Quarter (NE 1/4) of the Southeast Quarter (SE 1/4) of Section Six (6), Township Sixteen (16) North, Range Thirty (30) West, and being more particularly described as follows, to -wit: Beginning at the Northeast corner of the said 40 acre tract, and running thence South 00 degrees 12 minutes 44 seconds East 130.64 feet; thence South 79 degrees 04 minutes 00 seconds West 7.77 feet to a point on the East right-of-way line of Mt. Comfort Road; thence along said East right-of-way line for 201.64 feet along a curve to the left having a radius of 314.5 feet, a delta angle of 36 degrees 48 minutes 47 seconds and a leading tangent bearing of North 29 degrees 50 minutes 26 seconds West; thence East 155.15 feet to the point of beginning, and containing 0.20 acres, more or less. Part of the Northwest Quarter (NW 1/4) of the Southwest Quarter (SW 1/4) of Section Five (5), Township Sixteen (16) North, Range Thirty (30) West, more particularly described as follows: Beginning at the Northwest corner of said 40 acre tract; thence North 89 degrees 23 minutes 00 seconds East along the North line thereof a distance of 297.2 feet to a point on the Westerly right-of-way line of U. S. Highway 71 (now U.S. Highway 540); thence South COUNTERSIGNED BY: BRONSON ABSTRACT COMPANY, INC 28 EAST CENTER STREET FAYETTEVILLE, AR. 72701 FIRST AMERICAN TITLE INSURANCE COMPANY ********************************* 0 • Policy No.J 789211 SCHEDULE A File No.FATIC 2003-14795 • 50 degrees 54 minutes 00 seconds West along said right-of-way line a distance of 161.2 feet to a point; thence South 78 degrees 38 minutes 00 seconds West along said right-of-way line a distance of 173.8 feet to a point on the West line of the Northwest Quarter (NW 1/4) of the Southwest Quarter (SW 1/4) of Section Five (5); thence North 00 degrees 43 minutes 00 seconds West along said West line a distance of 132.7 feet to the point of beginning, and containing 0.61 acres, more or less. COUNTERSIGNED BY: .Qj 8LetsaL.- BRONSON ABSTRACT COMPANY, INC 28 EAST CENTER STREET FAYETTEVILLE, AR. 72701 ******************************** FIRST AMERICAN TITLE INSURANCE COMPANY ********************************* • Policy No.J 789211 SCHEDULE B File No.FATIC 2003-14795 This policy does not insure against loss or damage by reason of the following: 1 General taxes for the year 2003 and subsequent years not yet due and payable. 2 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. 3 Subject to any portion of herein described land that may lie within the right of way of any public road. 4 Subject to a waterline easement granted to the City of Fayetteville, Arkansas. BRONSON ABSTRACT COMPANY, INC 28 EAST CENTER STREET FAYETTEVILLE, AR. 72701 ********************************* FIRST AMERICAN TITLE INSURANCE COMPANY ********************************* ti NAME OF FILE: Resolution No. 143-03 wlOffer & Acceptance Contract & budget adjustment CROSS REFERENCE: Item # Date Document 1 09/04/03 Staff Review Form w/attachments: Warranty Deed (filed w/Circuit Clerk) draft resolution Settlement Statement memo to Mayor/City Council Addendum to HUD -1 Settlement Statement memo to Tim Conklin Sellers/Borrower's Affidavit Determine value of house Addendum scale of lot scale of lot Williams letter to Tim Conklin Parrish Appraisal to Jill Goddard aerial picture of Shiloh & Mt. Comfort aerial picture of Shiloh & Mt. Comfort realignment memo to Mayor/City Council survery description copy of Council minutes copy of check request 2 09/19/03 memo to Tim Conklin NOTES: 3 9/23/2003 memo to Sondra Smith from Ed Connell w/attachments Warranty Deed (filed w/Circuit Clerk) Settlement Statement Addendum to HUD -1 Settlement Statement Sellers/Borrower's Affidavit Addendum AGENDA REQUEST X CONTRACT REVIEW GRANT REVIEW A�STEVIEW FORM - FINANCIAL OBLIGAT. . For the Fayetteville City Council Meeting of: September 16, 2003 FROM: Tim Conklin, AICP Name Comm. Planning & Engineering CP&E Division Department ACTION REQUIRED: Approval of a contract for the purchase of property located at the northeast corner of Mt. Comfort Road and Shiloh Drive in the amount of $331,893.65. Purchase of the property will allow for future intersection improvements as recommended by Bucher, Willis and Ratliff, for Shiloh Drive and Mt. Comfort Road and approval of a budget adjustment in the amount of $337,659. COST TO CITY: $331,893.65 Cost of this request 4470.9470.5805.00 Account Number S - Mount Comfort/Shiloh Intersection Category/Project Budget Program Category / Project Name $ - Street Improvements Funds Used to Date Program / Project Category Name 03030 $ - Sales Tax Capital improvements Project Number Remaining Balance Fund Name BUDGET REVIEW: Budgeted Item X Budget Adjustment Attached *43 ?Alt cele Budget Manager Date CONTRACT/GRANT/LEASE REVIEW: Lrr unting Manager City Attornet DG� te�yl, , Date Pur chasin M jr ger ••. to STAFF RECOMMENDATION: Staff recommends approval. Division Head Received in Mayor's Office Date Date 9-Y- 03 Cross Reference: Department irector Date Previous Ord/Res#: F nance 6 Internal Services Dir. Date Orig. Contract Date: Chie inist _five Officer Date thkn Date Orig. Contract Number: New Item: Yes No Description Comments: Budget Manager 11111 Staff Review Form - Page 2 Meeting Date September 16, 2003 Reference Comments: Accounting Manager City Attorney Purchasing Manager ADA Coordinator Internal Auditor Grants Coordinator RESOLUTION NO. A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE CONTRACT BETWEEN THE CITY OF FAYETTEVILLE AND DONALD R. WILLIAMS AND SHARLENE WILLIAMS, AND JAMES R WILLIAMS AND NEELEY J. WILLIAMS FOR THE PURCHASE OF PROPERTY LOCATED AT THE NORTHEAST CORNER OF MT. COMFORT ROAD AND SHILOH DRIVE FOR THE AMOUNT OF THREE HUNDRED THIRTY ONE THOUSAND EIGHT HUNDRED NINETY-THREE DOLLARS AND SIXTY-FIVE CENTS ($331,893.65) TO ALLOW FOR FUTURE INTERSECTION IMPROVEMENTS; AND APPROVING A BUDGET ADJUSTMENT IN THE AMOUNT OF THREE HUNDRED THIRTY-SEVEN THOUSAND SIX HUNDRED FIFTY- NINE DOLLARS ($337,659.00) FOR SAME. 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 an Offer and Acceptance contract between the City of Fayetteville and Donald R. Williams and Sharlene Williams, and James R. Williams and Neeley J. Williams for the purchase of property located at the northeast corner of Mt. Comfort Road and Shiloh Drive for the amount of Three Hundred Thirty One Thousand Eight Hundred Ninety -Three Dollars and 'xtk- Five Cents ($331,893.65) to allow for future intersection improvem ts. copy of the contract is attached hereto marked Exhibit "A" and made I ft he of. Section 2. That the City Council of the City @ f Fayetteville, ; & kansas hereby approves a budget adjustment in Ike e amount o�{ 'hrel Hundred I hirty- Seven Thousand Six Hundred Fifty -Nine M\ars ($337;6 ' 0 o r same. PASSED and APPROV ETthis. 6th day S.pt tuber, 2003. is 410 By: • A SMITH, City Clerk DAN COODY, Mayor FAYETAILLE THE CITY OF FAYETTEVILLE, ARKANSAS ti 113 W. Mountain St. Fayetteville, AR 72701 Telephone: 479-575-8264 COMMUNITY PLANNING AND ENGINEERING SERVICES DEPARTMENT TO: FROM: DATE: SUBJECT: Mayor Dan Coody Fayetteville City Counci Hugh Eamcst, CAO Tim Conklin, Director of Community Planning and Engineering Serviceij-C_ September 2, 2003 Purchase of additional Right -of -Way and Associated Reimbursement of Development Costs and approval of a Budget Adjustment BACKGROUND The City Council recently tabled a rezoning request for property located west of the 1-540/ Mt. Comfort interchange owned by Mr. James R. Williams and Donald R. Williams. Staff and the Planning Commission recommended the rezoning to City Council on April 14, 2003. However, shortly after this action by the Planning Commission, our transportation consultant provided additional information regarding recommended intersection improvements at this location which would require the acquisition of this property. Staff met with the owner and discussed the ramifications of building a gasoline service station/convenience store at this location and having to acquire right-of-way in the future. The owners stated that 1-1.5 million in development costs would be spent on this site to develop the project. After some discussion, all parties are in agreement that to proceed with development is counter productive as the best long term use of this property is for intersection improvements. Based on this new information, the City Council tabled the request at the June 3, 2003 Council meeting. Our consultant has recommended that this particular parcel is needed for improvement to this intersection. In order to accomplish this, the City had the property appraised which was valued at S268,000. The property owners also requested they be reimbursed for approximately $ 112,000 in associated development costs for a total of $380,190.58. CURRENT STATUS Staff has identified existing 2003 street capital improvement funding for the purchase of this property. Funding can be transferred from the 2003 Betty Jo Drainage Improvements project that was completed in-house by the Transportation Division (Budget Adjustment Attached). The property owners have submitted a request for reimbursement. The City has reviewed the owners expenses that were incurred in purchasing and trying to develop this property. RECOMMENDATIONS % It is our recommendation that this parcel be purchased for future use in improving this transportation corridor. We further recommend that the owners be offered $331,894. S S TO: Tim Conklin, Director of Community Planning and Engineering Services FROM Ed Connell, Land Agent DATE: September 3, 2003 RE: Mt. Comfort/Porter Road - 1-540 Prop. James r. Williams and Donald R. Williams I have reviewed the reimbursement request of James Williams relative to the subject property and believe that, if the City were to reimburse, it should only be done on the basis of out-of-pocket expenses. Since Mr. Williams has no summary of all the parts that make-up his total, it is difficult to be accurate in the following accounting: Purchase Price $268,300.00 Appraisal Fee 2,500.00 Flood Certificate 42.00 Bank of Fayetteville Fee 50.00 Closing Fee 400.00 Document Prep. 100.00 Attorney' Opinion 40.00 Title Insurance 982.50 Real Estate taxes(765-13614-000 &13579-000) 236.63 Parcel 770-17533-000 2002 Est. Taxes (not this property) - Survey 527.00 Recording Fees 45.00 Revenue Stamps 884.00 Record Assignment Fee 17.00 Release Fee Bank of Fayetteville 11.00 Interest payment to Mitchell Oil Co. (at closing) 12,788.41 TRC & Assoc. Architectural Fee 13,000.00 Civil Engineering (Jorgensen & Associates) 850.00 Value of Removed House 14,340.00 Annexation and Rezoning Fees 650.00 Annexation Attorney's Fee 4,655.00 Annexation Advertizing 721.98 Loan Running interest (08-08-03 to 09-18-03) 10,753.13 As of 08-26-03 Total Out -of Pocket Expenses $331.893.65 Excluded are 1) Owners Time costs 2) Loss of rent 3) Tax payment of a parcel of Goshen property used as collateral The above figure is our best estimate of total direct out -of pocket costs. Williams estimates the building could have been rented for $8,000 in 2003 for a fireworks stand. This anticipated rental has not been included above. The City is to pick up all closing costs, which we anticipate to be about $1,500, except for proration of taxes due for 2003. S S Determine value of House as purchased by Williams from Mitchell Oil: A. Per closing statements for the above transactions: 1. Tr# 1: 765-13579-000 26,238 sq. ft. or 0.602 acre Cost: $185,000 or $7.05/ft2 2. Tr#2: 765-13614-000 8,604 ft2 or 0.198 acre 3. Tr# 2 Land Value = 8604 x $7.05/ft2 = $60,660 House Value= $75,000- $60,660 = $14,340 B. City Appraisal 1. Tr#1 26,238 x $7.70/ft2 = $202,000 2. Tr#2 8,604 x $7.70/ft2 = $ 66,300 (No building) $268,300 Land Value Increase: Feb., 2003 to July, 2003: 7.70/7.05 = 109.2 % S N J 26238 sq. ft. (0.60 Acre) Deed 2003-0015321 Mitchell Oil to Williams Title: Lg Lot to Williams Scale: 1 inch = 52 feet N89°23t File: Williamstrl.des Tract 1: 0.602 Acres: 26238 Sq Feet: Closure = n47.3334w 0.05 Feet: Precision =1/16990: Perimeter= 765 Feet 001=N89.23E 297.2 002=S50.54W 161.2 003=S78.38W 173.8 004=N00.43W 132.7 Date: 08-27-2003 S S Title: Scale: 1 inch = 38 feet File: WilliamsTr2.des Tract 1: 0.198 Acres: 8604 Sq Feet: Closure = s72.305 1w 0.00 Feet: Precision >1/999999: Perimeter = 495 Feet 001=S00.1244E 130.64 002=S79.04W 7.77 OOJ: 4 R•5I4 5. An 201 61 T,N29.5026W 004=n89.5928e 154.92 ? Date: 08-27-2003 S RECEIVED James R. Williams Donald R. Williams 1425 Lake Sequoyah Dr. Fayetteville, AR 72701 Phone 479-521-3533 Fax 479 571-4809 To: Tim Conklin, City Planner City of Fayetteville Re: Porter Rd. Project expenses AUG 1 5 2003 PLANNING DIV. August 14, 2003 The following is a list of the expenses experienced while developing our Porter Rd. project. The first set of expenses were at closing and included reimbursement to Mitchell Oil Co. for interest, attorney fees, and advertising. The regular closing items were also paid at this time, these included an appraisal, title work, survey, taxes, flood certification, and document preparation. At closing the total expense was $24,809.05, all of these expenses are listed on the closing statement. The next set of expenses were for construction preparation. The bill for the architectural plans prepared by TRC & Associates was $13,000.00. Jorgensen & Associates were the civil engineers and their total bill was $850.00. The other expenses were to the City of Fayetteville for the fees dealing with annexation and rezoning totaling $650.00. Interest expense since the closing date and as of 08/08/03 is $8571.53 and is increasing at the rate of $54.54 per day. The Bank of Fayetteville, even though the project has ended, still requires my brother and Ito pay all the interest accrued quarterly, with the next interest payment due 09/03/03. The last set of expenses are for the removal of the house, which now the city will not have to deal with. The lost income from the fireworks stand, if the annexation and rezoning had gone hand in hand instead of passing the annexation and delaying the rezoning portion we could still have collected rental income for the fireworks stand. Time and effort that my brother and myself have put into this project over the last two years is the final item We have done the majority of work in every aspect of this project from picking the site to the design and layout of the store. The layout of the site and store was the sole work of my brother Rex, he put countless hours into developing what we thought was the perfect design for this site. I would take these to the city and the S ti architect to make something everybody could be happy with. We did all the work on the annexation and rezoning ourselves. We had talked with numerous companies about the construction phase and were ready to sign a contract when we were told of the problem, so all of the leg work had been completed by us. The value on the house, rent, and time is $64,000.00. This will make a total of all expenses $111,890.58. Sincerely, James R. Williams PARISH A L r • A A% At. L. INC July 28, 2003 Ms. Jill S. Goddard Land Agent City of Fayetteville Fayetteville, AR 72701 Re: 0.02 & 0.06 +/- ACRE TRACTS OF LAND, LOCATED NORTH of Mount Comfort Rd., FAYETTEVILLE, WASHINGTON COUNTY, ARKANSAS Dear Ms. Goddard: Pursuant to your request, I have inspected the land, and performed the analysis necessary for the purpose of estimating a current Fair Market Value of the Tracts of Land, located north of Mount Comfort Rd., Fayetteville, Arkansas. The Legal Description is: 0.20 & 0.60 ACRES OF LAND, MORE OR LESS, BEING OUT OF SECTION 05, TRACT 16 N, RANGE 30W, FAYETTEVILLE, WASHINGTON COUNTY, ARKANSAS I certify that, to the best of my knowledge and belief, (1) The statements of fact contained in this report, upon which the analysis, opinions and conclusions expressed herein are based, are true and correct. (2) The reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and is my personal, unbiased professional analyses, opinions and conclusions. (3) 1 have no present or prospective interest in the property that is the subject of this analysis and I have no personal interest or bias with respect to the property or parties involved with this assignment. (4) My compensation is not contingent upon an action or event resulting from the analyses, opinions or conclusions in, or use of, this report, or upon developing or reporting of a predetermined value or direction of value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the use of the appraisal. II (5) This assignment was not based upon a requested minimum value, a specific valuation, or the approval of a loan. (6) My analyses, opinions and conclusions were developed, and this report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP), as promulgated by the Appraisal Standards Board of the Appraisal Foundation, and the Code of Professional Ethics and Standards of the National Association of Master Appraisers. I hereby certify that I have inspected the property described by way of a personal inspection and that all data gathered by my investigation is from sources believed reliable and true. At our client's request, the results of my investigation and analyses, which comprise a Complete Appraisal, are being presented via a Summary Appraisal Report Format as permitted by Standard 2-2a. It has been our intention to conduct our appraisal and prepare this report in compliance with the Uniform Standards of Professional Practice ("USPAP") and the Appraisal Standards Board of the Appraisal Foundation. The function of this appraisal is to assist the client in determining a fair and equitable Market Value of the subject property. The value estimate is based on the real property only. No furniture, equipment or personal property is included in the value estimate. The value is based on the definition of Market Value as set forth by the FIRREA Act of 1989, effective August 24, 1990. Please refer to the definition in Exhibit "A" following this letter. In the accompanying report, you will find the results of my investigation containing the facts, analysis and conclusions pertaining to the subject property and the final estimate of value. It is my opinion that the Market Value of the Subject property as of July 21, 2003, is as follows: TWO HUNDRED SIXTY EIGHT THOUSAND DOLLARS ($268,000) Intended Purposes/User: This appraisal report is intended to be used for estimating market value worth and this appraisal is intended to be used only by the client/addressee. The client is The City of Fayetteville. Any other use or reliance of this report by an unauthorized third party is prohibited unless otherwise specified. Respectfully submitted, �.`'Pob GEA7IF�C��i �!. rb: STATE ;r 4s. �� _aCERTIFIED 'a `� lG,.> s �; GENERAL . U Don L. Cramer = CG2171 7 Parrish Appraisals Inc. '�„ C • P o State Certified General Appraiser, Licens�'tfn 812111 iii FAYETTNTILLE as THE CITY OF FAYETTEVILLE, ARKANSAS 113 W. Mountain St. Fayetteville, AR 72701 Telephone: 479-575-8264 COMMUNITY PLANNING AND ENGINEERING SERVICES DEPARTMENT TO: Mayor Dan Coody Fayetteville City Council FROM: Tim Conklin, Director of Community Planning and Engineering Serviees'fa DATE: May 30, 2003 SUBJECT: Lowe's Traffic On Highway 62 And Information On Intersection Improvements At Shiloh Drive/ 1-540 And Mt. Comfort/Porter Peters and Associates has provided additional information regarding the capacity of Highway 62 if the Lowe's project is approved (please see attached memo). I have also provided information from Bucher, Willis & Ratliff Corporation, BWR (Transportation Consultant) regarding the intersection of Shiloh Drive/ 1-540 and Mt. Comfort/Porter. This intersection redesign will result in additional right-of-way acquisition and will impact the current rezoning request for Williams. Due to the new information, staff feels that it is necessary to change the recommendation on this request. Staff will not be able to support the request due to BWR's recommendation for this intersection redesign. We have met with the property owners and will continue to work with them on this issue. Once again, we regret having to take this action; however, we believe not to act at this time would precipitate a much more serious problem in the future. ,�•crx r / % Ala e�Ar^ 0% -on JorO ♦ • v •pCltow ic�r p x Z m Z /Pmts 00 ZQ Ai %D NN �C•1 a 0J A N >n x o -ow Omym Y 07 O Otii v /`N o O = _ O t r Q y s 1 N x N f�}Ifi ^ I (I� A •• . o 3r ' L (RECOR r5D0'12'4411' 130.64') •'� N00'38' 17"N n zrztn OOz�OD xzzr ��ccff r1 't O C •o z inA DAmY y yA ',yvD cn�o yAom' po 0Z^ �am7ommdmfl c) t z A noOA nmcnOiy= xomb z 0xs o -a�a>>Jmov=c E ."o$ m MOm�A �Ua2mzmaz �0at n-i`.1e 2-1oOz pp A e J C, o ("�1 2pj Q 00 Qy m Q z w mzzE >W -q ZZAP..-, oe -ice mm-im �%Q°.a ,o0 W p A y U z m z It Q C n' y Cm Q "m-~1 nmzr nFz-Ci V ^ -n 0-)--m 0F1 o x YS08 N00'38'171W 130.56' 0 0 . (RECORD- N00'43'001M 132.70') 0! •- J cq citQ Q I . DAO-p.m I 1r OJ IJ U' A R \ma•,y . • .. r ` 9QZ Oy s p sA . OO ` 9� N X \ oN. •'4z 9 me ' Z r O 0l Om CO ZI• A' N a JONL IN WO • -%1 • ImY c iJ I i r S S City Council Meeting June 3,2003 Page 2 of 20 Maximus, Inc.: A resolution approving a contract with Maximus, Inc. in the amount of $27,240.00 for a user fee study and cost allocation plan services; and approving a project contingency in the amount of $2,760.00. Resolution 82-03 As Recorded In The Office Of The City Clerk. Juvenile Accountability Incentive Block Grant: A resolution accepting a Juvenile Accountability Incentive Block Grant (JAIBG) to fund D.A.R.E. and D.A.R.E. Plus programming, gang resistance training, and software and training to c duct threat assessments for the school population; and approving a budget adjustment in .e , nt of $33,958.00 to recognize the grant revenue and appropriate the matching funds. Resolution 83-03 As Recorded In The Office Of The City Local law Enforcement Block Grant: A resolution aG'Ecpt Grant (LLEBG) from the U.S. Department of Juus ice for computers, and approving a budget adjustmentomc grant revenue and appropriate the matching funds. Resolution 84-03 As Recorded In The Off_ce Of The City C Grubbs, Hoskyns, Barton & Wyatt, Int amount of $105,000.00 from Grubbs, Hosky adjustment adding these funds to the Library Resolution 85-03 As R�rded u fhe Office Of(he City Alderman Jordan move'ic to ap o e the motion carried_unanimou Iv. OLD a Local La orcement Block purchase of edited laptop Lof $35,797.00 t ognize the to ace Jat ettlement proposal in the Wyatt, nc. and approval of a budget read. Alderman Davis seconded. The RZ1 03 !00 (Williams). ordis'3ce rezoning that property described in rezoning petition RZN 03-1 E , as submitted y James Williams for property located at the northeast corner of Mt. Comfort R. d and Slid h Drive, Fayetteville, Arkansas from R-2, Medium Density Residential and gricul ural to C -1, Neighborhood Commercial. This ordinance was left on the second readin a tie. May 20, 2003 City Council meeting. Alderman Davis moved to suspend the rules and go to the third and final reading. Alderman Jordan seconded. Upon roll call the motion passed unanimously. Mr. Williams read the ordinance. S City Council Meeting June 3,2003 Page 3 of 20 Tim Conklin, Planning, said this rezoning request was initiated with an annexation of this comer, at the intersection of Porter Road and Shiloh Drive. Last year the City contracted with a BWR to do a master transportation study, part of that study included a task to look at five intersections in the City of Fayetteville. This intersection happens to be one of the intersections that they are studying. The City of Fayetteville Planning staff has been working with these applicants for the past year to year and a half on this issue and just recently we received additional information with regard to this intersection design. What BWR is recommending that the intersection be completely redesigned and the curb be removed. I have given the Council drawings of these intersection improvements. These are improvements that BWR will/be recommending to the City Council. These drawings take Porter Road through what would lie rezoned for the gasoline service station. Based on this additional information we recently received, Staff at this time would change our recommendation and ask that it not be rezoned.\We have met with the applicant and explained to them this current situation. This is an area�tltatprovides access under Interstate 540, it is minor arterial street and BWR is recommending for thfuture traffic capacity in this area that the intersection should be redesiined\Where that leaveslistis we did annex a piece of property, BWR will be here on June 17 t6Cmeet with Staff on the' i ft�transportation plan. They are willing to sit down with the City -of Fayetteville, Street Commi ee%and discuss further this intersection design if that is your desire - \T7ie�applicants havezpurchased the property and have been working on plans to develop it. I r commend that we not rezone this property that we look to funding sources`that we potentially could preserve this piece of property and acquire it. The last thing that I want tb-do is make a recommendation, build a gasoline service station there and then when BWR'corricand,sho ws us a complete intersection redesign through this gasoline service station. This will require us..to look forward on how we plan our future intersections. Acting now will save usmoney.( . ' • v Wi... Mayor Coody said you -are askin "us to deny this�e zoning. Mr. Conklin said yes, lee vet riedas A-1 an/let Staff precede working with our traffic consultant to expedite thei shit' -of thih-intcrSction and to not delay this issue with the applicant�i����,� Mayo Coody said whenWR comes t6' discuss this intersection, will there be conversation betweeni\the\owners of tllb property)tde consultants and us to see if there is a way that an intersection�an�be designedsothat they can still do what they would like with their property there and make,it work for them and us. Mr. Conklin said BWR`haS'feviewed their proposed plans, this is an arterial street, one plan did show a round about and,the other a four way intersection. It would be very difficult to develop this property with a gasoline service station. The master street plan pretty much removes most of the development potential off the property Alderman Davis said his understanding was if we vote this down tonight they have to wait one year to bring it back up, in the event that the traffic consultant comes up with some alliterative design. S S City Council Meeting June 3, 2003 Page 4 of 20 Mr. Conklin said he spoke with BWR this afternoon that are developing conceptual plans, which is what you have before you this evening, these plans remove the curve at this intersection. I have not seen any alternative plans. Mr. Davis said if we vote this down it would have to wait one year in the event something else occurred. Mr. Conklin said that is correct, one alternative would be to table this. Alderman Davis said maybe we should table this and give the traffi'c'tutiy a chance to come back to us and see exactly what they are recommending so we can tke a real decision. Alderman moved to table the ordinance indefinitely. seconded. Mayor Coody told the applicants that he was sorry tha?we Had put them i "is comer and that he understood they had been very gracious and patient a A Jim Bob Williams, the applicant, said they have three s oa ht 'me. They approached their oil company, Mitchell Oil Company, and told them they'ha,cked out the Mount Comfort area to put in a store. We acquired this prdperty and some ad t al property; we had an architect draw up a plan of what we needed to see 'f!it would fit the Ci Zs lans. We worked with the Planning Department for several months to�get 4ut design th t ,e felt was agreeable for the City and that would work for us. Mitchell Oil purchased the property for us until we got our financing approved. We had the property annexed%into`tliety then we come to the point to d#flwhere we are ready to aphp ee-thins and then alrof a sudden we are more or less hung out to dry. We have money borrowed on this'because we thought it was in the City s favor. I am shocked and very disappointer l^believets would be a tremendous store. I don't believe we can find another piece of propert ike t is M have tr d our best to go along with the City staff and take their recommendation to heartland wgood faith with them and for some reason we have been .bliriBEsi e& . Mayor Coody apologize ❑ behalfiof5tlie City staff and all of us in putting you in this predicarrr �n, we did not expect a yea ago when you started this process to find ourselves now with the idea' o4 having to completely rebuild an intersection interchange there. We are as surprised abou"f t is as anyone, but in the long run for all the citizens of Fayetteville it's our charge to try took down the road. We would never choose to do this voluntarily. We are going to work wi uto'make this work out; if we need to we will make you whole. Please accept our apology. __, Mr. Williams said what is the next step. Mayor Coody said when the consultants come back to town you will be included in the conversation with the consultants and our Planning staff. We will know more at that time where we will go from there. City Council Meeting June 3,2003 Page 5 of 20 Mayor Coody asked shall the motion to table the ordinance pass. Upon roll call the motion passed unanimously. Unified Development Code: An ordinance repealing Title XV, Unified Development Ordinance (originally adopted by Ordinance 4100 on June 16, 1998) of the Code of Fayetteville and adopting and enacting an amended Title XV Unified Development Code. This ordinance was left on the second reading at the May 20, 2003 City Council meeting. Alderman Marr moved to suspend the rules and go to the third and final reading. Alderman Davis seconded. Upon roll call the motion passed unanimously. Mr. Williams read the ordinance Dawn Warrick, Planning, said since the Council 'slast\meeting considering the Unified Development Code the document has finalized and was p1aced'on the web site for review in draft form. W e have advertised, put the document out for review \we have beenc\the ordinance review committee; we have read through it and beli v'�\that this is a brand new codified version of our codes that is in a format ready for distribution. Mayor Coody asked if anyone had had,any feedback from\the'public on this since it has been posted. Ms. Warrick said she has not heard from anyone in the public with regard to this document. Staff is very anxious to be able to use it. Don McCandless, a bui dl er said,he\builds new homes, he asked that the City and every member of the Council read everyordinance carefully because a lot of the things that are going in this City are hurting the City economically, physically and are going to become a liability for the City. There are, some ordinances that.are on-the-bdoks in the City of Fayetteville that are not real good. They inot, bd for grgwth, forpeople, the home builder or the economy that have been passed dunng the past -two years. J ask that any ordinance that comes through you review it with scrutiny and put more forethought into th out come and impact of the ordinance. Mayor Coody asked Mr. McCandless to make a list of the ordinances that fit his description and give them to Mr. Conklin. ) f Mr. McCandless said h'.ha'd`two with him tonight. Alderman Davis askeewhat two he had with him tonight. Mr. McCandless the green space and park ordinance is one. He will turn them in to the Mayor's office for your review at the next meeting. Before you pass anything you need to think about the outcome towards everybody. The impact fee is getting ready to hit, I cannot build a house here like I can in Rogers. I can not build a house for sale at $89,900 to $91,000 because there is too much impact on everything that comes with the permit. Construction is the largest employer in D C0) o >0 p cc m c O I Zc C N m WI m m m m m rz O • ' I• ___JN ■J, El 0v < v v ; s 0 O 0 ? - ° 00 m ° 5fl a D D 3 Cr a m r z c z 0 z D m 0 z z 0 T C x m x rA co m mD m z C) x m z m c x 0 m m cc m z 0 C) 0 1 0 O IC a 1 o m o z 0 i m m 9 N F m m C C 2 C) x D n � c x D r o to C) m z 4 ❑ \ Z r FAYETTEVItLE THE CITY OF EAYETTEVIIIE. ARKANSAS DEPARTMENTAL CORRESPONDENCE To: Tim Conklin Community Planning & Engineering From: Clarice Buffalohead-Pearman (� City Clerk Division V p Date: September 19, 2003 Re: Res. 143-03 Attached please find an executed copy of the above referenced resolution passed by City Council, September 16, 2003 approving an Offer and Acceptance Contract for the purchase of property located at the northeast comer of Mt. Comfort Road and Shiloh Drive. The original resolution and contract will be recorded in the city clerk's office and microfilmed. Also attached is a copy of the budget adjustment for this project. I have also attached the check request for this project. If anything else is needed please let the city clerk's office know. cc: Nancy Smith, Internal Auditor Barbara Fell, Budget Research Sn 'a FAYETTEVITLE THE CITY OF FAYETTEVILLE. ARKANSAS DEPARTMENTAL CORRESPONDENCE DATE: September 23, 2003 TO: Sondra Smith, City Clerk FROM: Ed Connell, Land Agent RE: City Purchase of Williams Property Deed and Closin tatement Resolution N 143-03 Please find included the original Deed for the conveyance of 0.81 acres from Donald R. and Sharlene Williams and James R. and Neeley Williams to the City of Fayetteville, said property being located in part of the NE'/. -SE'/. -6-16-30 (363) and part of the NW'/. -SW'% -5- 16-30 (364). This deed is recorded as file No. 2003-00050342. Also included are copies of the Settlement Statement and Disclosure Affidavit of the selling parties. This information is provided for city records. RECEIVED SEP 232003 CITY OF FAYETTEVILLE crT" CLERK'S OFFICE S. 765.13614-000 766-13576-000 WARRANTY DEED HUSBAND AND WIFE (With Relvquishmwt of Curtesy and Dower) BE IT KNOWN BY THESE PRESENTS: THAT WE, Donald R. Williams and Sharlene Williams, husband and wife, and James R. Williams and Neeley J. Williams, husband and wife, hereinafter called GRANTORS, for and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration, the receipt of which is hereby acknowledged, do hereby grant, bargain, sell and convey unto the City of Fayetteville, Arkansas, a municipal corporation, hereinafter called GRANTEE, and unto Grantee's successors and assigns, the following described land situated in Washington County, State of Arkansas, to -wit: Property Description: IV�I�'I�IIIAIpIIII�I�Doc IIII�IR�b�p�p�p�p�lg�l�ll Recorded: 009%23%20030 et T07:44:32 An Fes Amt: 68.00 Pea. I of I Washlnaton County. AR Bette Stamps Circuit Clerk Fll•2003-00050342 Part of the Northeast Quarter(NE') of the Southeast Quarter (SE%.) of Section Six (6). Township Sixteen (16) North, Range Thirty (30) West, and being more particularly described as follows, to -wit: Beginning at the Northeast comer of the said 40 acre tract, and running thence South 00.12' 44" East 130.64 feet; thence South 79 0400" West 7.77 feet to a point on the East Right -of -Way line of Mt. Comfort Road; thence along said East Right -of -Way line for 201.64 feet along a curve to the left having a radius of 314.5 feet, a delta angle of 36.48' 47" and a leading tangent bearing of North 29' 5026" West; thence East 155.15 feet to the point of beginning, containing 0.20 acre, more or less. and Part of the Northwest Quarter(NW Y.) of the Southwest Quarter (SW%) of Section Five (5), Township Sixteen (16) North, Range Thirty (30) West, and being more particularly described as follows, to -wit: Beginning at the Northwest comer of the said 40 acre tract; thence North 89' 23' 00" East along the North line thereof a distance of 297.2 feet to a point on the Westerly Right -of -Way line of U. S. Highway 71(now U.S. Highway 540); thence South 50' 54' 00" West along said Right -of -Way line a distance of 161.2 feet to a point; thence South 78' 38' 00" West along said Right -of -Way line a distance of 173.8 feet to a point on the West line of the Northwest Quarter (NW%) of the Southwest Quarter (SW%) of Section Five (5); thence North 00' 43' 00" West along said West line a distance of 132.7 feet to the point of beginning, containing 0.61 acre, more or less. TO HAVE AND TO HOLD the said lands and appurtenances thereunto belonging unto the said Grantee and Grantee's successors and assigns, forever. And the said Grantors, hereby covenant that they are lawfully seized of said lands and premises; that the same is unencumbered, and that the Grantors will forever warrant and defend the title to the said lands against all legal claims whatever. And we, the respective Grantors, hereby release and relinquish unto the said Grantee our respective rights of dower/curtesy and homestead in and to said lands. WITNESS the execution Woof on this � y day of STATE OF ARKANSAS COUNTY OF WASHINGTON ACKNOWLEDGMENT ss. BE IT REMEMBERED, that on this date, before the undersigned, a duty commissioned and acting Notary Public within and for said County and State, personally appeared Donald R. Williams and Sharlene Williams, husband and wife, and James R. Williams and Neeley J. Williams, husband and wife, to me well known as the persons who executed the foregoing document, and who 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 04- day of MY COMMISSION EXPIRES: Lela R. Davis Notary Public, State of A,kmrsas Washington Cowuy My ConlmissiOn Expires 03/27/05 2003. Notary Public Washington County, AR I certify this instrument was filed on 09/23/2003 07:44:32 AM and recorded in Reat Estate File Number 2003-00050342 Bette St ps - Circuit Clerk b, U.S.DEPARTMENT OF HOUSING AND UR N flFVFt nPMFMT -------.... amp NpdoUl4) A. SETTLEMENT STATEMENT B. TYPE OF LOAN 1. ❑FHA 2. ❑ FMHA 3. ❑ CONV.UNINS. 6, File Number 7. Loan Number B. Mortgage Insurance Case Number 4. OVA 5. ❑CONV.INS. FATIC 03-14795 C. NOTE: This form is tunnelled to give you statement of actual tenement costs. Amounts paid to and by the settlement agent are shown. items marked "(p.o.c.)" were paid outside the closing: they are shown here for Informational purposes and are not Included In the totals, 0. NAME AND ADDRESS OF BORROWER € NAME AND ADDRESS OF SELLER F. NAME AND ADDRESS OF LENDER THE CITY OF FAYETTEVILLE SEE ATTACHED ADDENDUM 113 W. MOUNTAIN FAYETTEVILLE,AR 72701 G. PROPERTY LOCATION H. SETTLEMENT AGENT PT. 5-16-30 Pt 6-16-30 BRONSON ABSTRACT CO., INC. FAYETTEVILLE, ARKANSAS PLACE OF SETTLEMENT I. SETTLEMENT DATE 3810 FRONT STREET, SUITE 5 9-18-03 FAYETTEVILLE, ARKANSAS 72703 DISBURSEMENT DATE 9-18-03 J. SUMMARY OF BORROWER'S TRANSACTION K. SUMMARY OF SELLER'S TRANSACTION 100. GROSS AMOUNT DUE FROM BORROWER 400. GROSS AMOUNT DUE TO SELLER 101. Contract sales price 331,893.65 Cl. Contract sales price 331,893.65 102. Personal Property 402. Personal Property 103. Settlement charges to borrower (tine 1400) 1,106.00 403. 104. 404, 105. 405. ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE ADJUSTMENTS FOR ITEMS PAID BY SELLER IN ADVANCE 106. City/Town taxes to 406. Cny/Town taxes to 107. County taxes to 407. County taxes to 108. Assessments to 408. Assessments to 109. 4p9. 110, 410, 111, 411, 112, 412. 120. GROSS AMOUNT DUE FROM BORROWER 332,999.65 420. GROSS AMOUNT DUE TO SELLER 331,893.65 200. AMOUNTS PAID BY OR IN BEHALF OF BORROWER 500 .REDUCTIONS IN AMOUNT DUE TO SELLER 201. Deposit w earnest money 1,000.00 501. Excess Deposit (see instructions) 1,000.00 202. RlnClpel amount of new loen(s) 502. SMlemeni charges tp seller (line 1400) 203. Existing loan(5) taken subject to 503. ExIsting loa(s) taken subject to 204. Application deposit 504. Payoff of fast mortgage loan 205. Second IM mortgage 505. Payoff of second mortgage loan T06. sob. PT P O BANK OF FAY 307,139.95 207. 507. 208. 508, 209. 509. ADJUSTMENTS FOR ITEMS UNPAID BY SELLER ADJUSTMENTS FOR ITEMS UNPAID BY SELLER 210. City/Town taxes to 510, cn y/Town taxes to 211. county taxes 1-1-03 to 9-18-03 168.56 sit. County taxes 1-1-03 to9-18-0 168.56 212. Assessments to 512. Assessments to 213. 513. 214 514, 215. 515. 216. 516, 217, 517, 218. 518, 219. 519. 220. TOTAL PAID BY/FOR BORROWER 1,168.56 520. TOTAL REDUCTION AMOUNT DUE SELLER 308,308.51 300. CASH AT SETTLEMENT FROM OR TO BORROWER 600. CASH AT SETTLEMENT TO OR FROM SELLER 301. Gross amount due from borrower (Mt 120) 332,999.65 601. Gross amount due to seller (the 420) 331,893.65 302. Less amounts paid bypor borrower (llne 220) ( 1,168.5& 602. Less reduction amount due seller (line 520) ( 30$,30$.51 303. CASH N FROM 0 TO BORROWER 331,831.09 603. CASH ® TO ❑ FROM SELLER 23,585.14 I have carefully reviewed the HUD -1 Settlement Statement and to ma Aact nr mt. L......I1 --� L_o_. .- _ • ii,' M1vnlcyyc flu Ucllel, it 15 a true ana accurate statement of all receipts and disbursements made on my account or by me in this transaction. I further certify that I have received a copy of the HUD -1 Settle- ment THE CITY OF FAYETTEVILLE SEE ATTACHED ADDENDUM To the best of my knowledge, the a D-1 Settlement Statement which I have prepared Is a true and received and havq►len or will be is rsed by the undersigned as accurate account of the funds which were part of this tractpction. fX 1 ZONDRA A GOODNIGHT Settlement Agen WARNING: it Is a cri, Date le to knowingly make false statements to the United States on this or any other similar form, Penalties imwlsonment. For detaas see: T i. 1B II s con. c.nbv. Inn, ... e.-..- upon con Iction Can include a fine and Is Obsolete P(7/91) U(7/8/91) 14795 HUD -1 (0787) RESPA. He ADDENDUM TO HUD -1 SETTLEMENT STATEMENT SELLERS: Donald R. Williams, Sharlene Williams, James R. Williams and Neeley J. Williams PURCHASER: The City of Fayetteville, Arkansas Date: September 18, 2003 Leal) / / %?f (seal) onald R. Williams amen R. Williams jlathglC. ?ha Sharlene Williams WELLER'S/BORROWER'S AFFIDAVIT State of ARKANSAS County of WASHINGTON The undersigned, referred to as Seller/Borrower, whether one or more, being first duly sworn on oath that the Seller/Borrower Is the owner of the following described lands, situtated in WASHINGTON County, ARKANSAS. To -wit: SEE ATTACHED EXHIBIT "A" Seller/Borrower further state the following facts are true: There is no adverse occupant of the property described above. 2. Seller/Borrower and those under whom Seller/Borrower claims title, have been in peaceful possession of said lands for more than 7 years past. 3. There are no unrecorded options to purchase, sales contracts or lease agreements outstanding, which affects the property described above. 4. There have been no improvements made on the property described above during the past 130 days for which a mechanics' and materialmens' lien may be filed. 5. No appliances have been installed in the property described above on deferred payments which are unpaid for. 6. The property described above is not traversed by any roadways or easements except those shown on record. 7. There are no delinquent assessments due on the resident's association on the property described above, if applicable. 8. That no money whatsoever is owed on subject property to any person, firm, or corporation other than the following BANK OF FAYETTEVILLE 9. There are no outstanding judgments against Seller/Borrower as a result of legal action to Include, but not limited to, tax liens, divorce, bankruptcy or foreclosure. 10. That the marital status of Seller/Borrower has not changed since they acquired above described property. Witness the hand and seal of the undersigned of this 18th day of September , 2003 . Seller: SEE ATTACHED ADDENDUM Seller: ae& Borrower: THE CITY OF FAYETTEVILLE Borrower: Subscribed and sworn to before me, a Notary Public on this 18th day of September , 2003 . Notary Public: ZONDRA A. GOODNIGHT My Commission Expires: Please return this to Bronson Title Services. Inc., 1419 W. Walnut, Rogers, Arkansas, 72765. File #_ AFFID. REF � I. ADDENDUM SELLERS: Donald R. Williams, Sharlene Williams, James R. Williams and Neeley J. Williams PURCHASER: The City of Fayetteville, Arkansas Date: September 18, 20 Da1/(2 seal) Donald R. Williams icO (seal) ^mes R. Williams A n n Neeley J. yt�/ms l fYC 1_t� 1 c A / + tshiloh&mtcomfort realignment.d 05/29/2003 04:05:47 PM