HomeMy WebLinkAbout145-04 RESOLUTIONRESOLUTION Na45-04
A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE
CONTRACT BETWEEN THE CITY OF FAYETTEVILLE AND THE
FAY JONES TRUST FOR THE PURCHASE OF APPROXIMATELY
2.44 ACRES OF LAND LOCATED BETWEEN WEST AND GREGG
AVENUES FOR THE AMOUNT OF $100,000.00 PLUS
ASSOCIATED CLOSING COSTS; APPROVING A BUDGET
ADJUSTMENT IN THE AMOUNT OF $50,000.00; AND
ACCEPTING THE RECOMMENDATION OF THE TREE AND
TRAILS TASK FORCE.
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 the Fay Jones Trust for the purchase of approximately 2.44 acres
of land located between West and Gregg Avenues for the amount of $100,000.00
plus associated closing costs. 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 $50,000.00.
Section 3. That the City Council of the City of Fayetteville, Arkansas
hereby accepts the recommendation of the Tree and Trails Task Force to devote
half of the remaining balance of the Tree and Trails Fund to this purchase.
PASSED AND APPROVED this 21st day of September 2004.
ATTEST:
By:
ONDRA SMITH, City Clerk
APPRO
By:
AN COODY, Mayo
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: FAYETTEVILLE:
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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 $ 100,000.
3. Contingent Earnest Money Deposit: The Buyer herewith tenders a check for $ n/t/
0.0o to Euine Fay Jones, Trustee of the Fay Jones Trust, hereinafter referred to
as the Seller, as eamest money, which shall apply on the purchase price This offer of
purchase is contingent upon approval of the City Council of the City of Fayetteville,
Arkansas, and, if they do not so approve, the earnest money deposit will be returned
to the Buyer by the Seller. If title requirements are not fulfilled or the Seller fails to fulfill
any obligations under this contract, the eamest money shall be promptly refunded to
the Buyer. If the Buyer fails to fulfill his obligations under this contract or after all
conditions have been met, the Buyer fails to close this transaction, the earnest money
may, at the option of the Seller, become liquidated damages to the Seller. Alternatively,
the Seller may assert legal or equitable rights which it may have because of breach of
this contract.
4. Conveyance will be made to the Buyer by general Warranty Deed, except it shall be
subject to recorded instruments and easements, if any, which do not materially affect
the value of the property. Such conveyance shall include mineral rights owned by the
Seller.
5. The Seller shall furnish, at Seller's cost, a policy of title insurance in the amount of the
purchase price from a title insurance company as selected by the Buyer.
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 closing.
8. The closing date is designated to be within sixty (60) days after this document has been
approved by the Fayetteville City Council and said document will be submitted to the
Fayetteville City Council within 30 days of acceptance acceptance of this offer by the
Seller. Closing cost, except as specifically noted herein, shall be shared equally
between Seller and Buyer.
•
OFFER AND ACCEPTANCE CONTRACT
Page 2 of 5
9. Possession of the property shall be delivered to the Buyer on the date of closing.
10. Seller hereby grants permission for the Buyer or its employees or designates to enter
the above described property and improvements for the purpose of inspec-tion and/or
surveying.
11. All fixtures, improvements and attached equipment are included in the purchase price
12. Risk of loss or damage to the property by fire or other casualty occurring up to the time
of closing is assumed by the Seller.
13. Seller shall disclose to Buyer any and all environmental hazards of which Seller has
actual knowledge. Upon acceptance of all conditions and terms of this Offer and
Acceptance, Buyer 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
altemative, at Buyer's discretion, Buyer may cure such environmental hazard, and
Seller shall indemnify Buyer for all costs associated with said cure.
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 by the Seller on or before the 22nd day of June,
2004.
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 $ ADO EARNEST MONEY DEPOSIT.
Ni/
OFFER AND ACCEPTANCE CONTRACT
Page 3 of 5
SELLER:
Fay Jones Trust/11 /
Euihe�Y Jones rusteee (MA/
AGENT OR WITNESS:
A6
BUYER:
City of Fayetteville, Arkansas,
a municipal corporation
Dan Coody, Mayor
�QLta�il-tr-�
Sondra Smith, City Clerk
Date:
Date: �,- -200F
Date:
(SEAL)
OFFER AND ACCEPTANCE CONTRACT
Page 4 of 5
EXHIBIT "A"
PROPERTY DESCRIPTION
(Deed Book 1031 at Page 736)
A part of the NW% of the SE% of Section 16, Township 16 North, Range 30 West of the
5th P.M., being more particularly described as follows, to -wit: Commencing at a found two
inch iron pin marking the southwest comer of the NWY. of the SE% of said section,
township and range, which iron pin also marks the intersection of the South boundary
line of the right of way of South Street with the West boundary line of the right of way of
Gregg Avenue; thence South 88° 30' 40" East along the South boundary line of South
Street a distance of 37.33 feet to a point; thence North 00° 04' 40" East a distance of
65.12 feet to a found iron pin marking the Southwest comer of Block 36 of the Original
Town (now City) of Fayetteville, Arkansas, and which found iron pin also marks the
intersection of the East boundary line of the right of way of Gregg Avenue and the North
boundary line of the right of way of South Street; thence Northerly along the East
boundary line of the right of way of Gregg Avenue to a set iron pin which marks the
Northwest comer of said Block 36 at the intersection of the East boundary line of the right
of way of Gregg Avenue and the South boundary line of the right of way of Rock Street;
thence Easterly along the South boundary line of the right of way of Rock Street to a set
iron pin marking the intersection of the West boundary line of the right of way of the St.
Louis -San Francisco Railway and the South boundary line of the right of way of Rock
Street; thence Southerly along the West boundary line of said railroad right of way to a
set iron pin marking the intersection of the West boundary line of said railroad right of
way with the North boundary line of the right of way of South Street; thence Westerly
along the North boundary line of the right of way of South Street to the point of beginning,
said area being designated as Lot 1 of Block 36 of the Original Town of Fayetteville,
Arkansas, according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums
and McDonnell, Engineers, Kansas City, Missouri. Also, beginning at an iron pin set on
the West boundary line of the right of way of West Avenue at a point 158 feet South of
a set iron pin which marks the Northeast corner of Block 36 in the Original Town (now
City) of Fayetteville, Arkansas, and which set iron pin also marks the intersection of the
West boundary line of the right of way of West Avenue and the South boundary line of
the right of way of Rock Street; thence Southerly along the West boundary line of the
right of way of West Avenue to a found iron pin which marks the Southeast corner of said
Block 36 at the intersection of the West boundary line of the right of way of West Avenue
and the North boundary line of the right of way of South Street; thence Westerly along
the North boundary line of the right of way of South Street to a set iron pin which marks
the intersection of the North boundary line of the right of way of South Street and the
East boundary line of the right of way of the St. Louis -San Francisco Railway thence
Northerly along the East boundary line of the railroad right of way to an iron pin set on
the East boundary line of said railroad right of way at a point which is North 88° 30' 40"
West of the point of beginning; thence South 88° 30' 40" East a distance of 148 feet to
the point of beginning, said area being designated as Lots 5, 6, and 7 of Block 36
according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums and
McDonnell, Engineers, Kansas City, Missouri. It being the intention in the above
description all of Block 36, in the Original Town (now City) of Fayetteville, Arkansas,
LESS AND EXCEPT the following described real estate, to -wit: A strip of real estate 100
feet in width running parallel with the located centerline of the St. Louis -San Francisco
Railroad right of way and measuring 50 feet in width on both sides of said centerline.
Also, LESS AND EXCEPT that part of said Block 36 lying North of a line parallel to and
158 feet South of the North line of said Block and lying East of the East boundary line of
the St. Louis -San Francisco Railway right of way and West of the West boundary line of
the right of way of West Avenue in the City of Fayetteville, Arkansas.
OFFER AND ACCEPTANCE CONTRACT
Page 5 of 5
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 Euine Fay Jones, to me
well known as the person who executed the foregoing document, and who stated and acknowledged that
he is Trustee of Fay Jones Trust, and is duly authorized to execute the foregoing instrument for and in
the name and behalf of said Trust, and further stated and acknowledged that he 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 PA day of i4efetir
2004.
4•:
MY COMMISSION EXPIRt su. )';
t; I'Se:
EDWARD D. CONNEL
Washington County
My Commission Expires
May 1, 2010
C,,‘t
Notary Public
ACKNOWLEDGMENT
STATE OF ARKANSAS )
)
COUNTY OF WASHINGTON )
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 /4 day of < �y
MY COMMISSION EXPIRE
cf-c/- ecifo
EDWARD D. CONNELL
Washington County
My Commission Expires
May 1,2010
Notary Public
City of Fayetteville, Arkansas
• Budget Adjustment Form
Budget Year
2004
Department: General Government
Division: Miscellaneous
Program: Miscellaneous
Date Requested
9/7/2004
Adjustment Number
Project or Item Requested:
$50,000 is requested in the Land acquisition account.
Project or Item Deleted:
None. $50,000 from the Use of Fund Balance is
proposed.
Justification of this Increase:
Funding is for 2.44 acres from the Fay Jones Trust.
J
Justification of this Decrease:
Sufficient funding remains to comply with City policies.
Funds will be taken from the proceeds of the sale of
Wilson Springs Business Park.
Increase Budget (Decrease Revenue)
Account Name ' Account Number Amount Project Number
Land acquisition
1010 6600 5805 00 50,000
Decrease Budget (Increase Revenue)
Account Name Account Number Amount Project Number
Use of fund balance
1010 0001 4999 99 50,000
Approval Signatures
Requested By
Budget Manager
Date
Date
&rvicesDi
t Director
gDapte
i -0-
rey�.r i Date
Mayor
Date
Budget Office Use Only
Type: A B C '`__ ) E
Date of Approval
Posted to General Ledger
Posted to Project Accounting
Entered in Category Log
Initial Date
Initial Date
Initial Date
Initial Date
NAME OF FILE:
CROSS REFERENCE:
Item #
Date
r
•
Resolution No. 145-04
w/Offer & Acceptance Contract & budget adjustment
Document
1
08/20/04
memo to mayor & City Council
2
draft resolution
3
map of trail corridors Duncan Avenue & Town Creek
4
copy of O&A
5
Staff Review Form
6
memo to Leif Olson
7
Trustee's Warranty
Deed
8
copy of Settlement Statement
g
copy of closing check
10
copy of appraisal
11
12
13
14
15
16
NOTES:
City Council Meeting September 7, 2004 7270
Agenda Item Number
CITY COUNCIL AGENDA MEMO
To: Mayor and City Council
Thru: Tim Conklin, Community Planning and Engineering Services
Director
From: Leif Olson, Associate Planner
Date: August 20, 2004
/55
ti9)( do 5 , ,
Subject: Approval of a contract to purchase 2.44 acres for $100,000 from the
Fay Jones Trust.
RECOMMENDATION
Tree and Trails Task Force recommends approval of a resolution to allocate funds
from the Tree and Trails Task Force for the purchase of 2.44 acres located along
West Ave. west of the new City Library.
BACKGROUND
The Settlement Agreement in the case of League of Women Voters of Washington
County and the Ozark Headwaters Group of the Arkansas Chapter of the Sierra
Club, Inc. v. City of Fayetteville and City of Fayetteville Planning Commission, the
City of Fayetteville agreed to contribute $225,000 in 2001 and $225,000 in 2002 for
the acquisition by the City of trails rights-of-way, conservation easements, and fee
simple estates. These funds have been deposited in a Tree and Trail Fund and used
to preserve trees, environmentally sensitive lands, or lands with significant
environmental amenities or for additions to the city's existing system of multi -use
and walking trails.
DISCUSSION
This property was identified in the Downtown Master Plan, developed by Dover,
Kohl and Partners in conjunction with the city and the citizens of Fayetteville, to be
used as a trail corridor for the Center Prairie Trail, and for additional trail
connectivity to the new City Library.
BUDGET IMPACT
The Task Force recommends that Council appropriate $50,123.10 to the purchase of
Mr. Jones' property located on West Ave., with the balance of the funds needed to
complete this purchase to be determined by the City Council.
*bla 10 947//°4/ -9
• •
RESOLUTION NO.
A RESOLUTION APPROVING AN OFFER AND ACCEPTANCE
CONTRACT BETWEEN THE CITY OF FAYETTEVILLE AND THE
FAY JONES TRUST FOR THE PURCHASE OF APPROXIMATELY
2A4 ACRES OF LAND LOCATED BETWEEN WEST AND GREGG
AVENUES FOR THE AMOUNT OF ONE HUNDRED
THOUSAND DOLLARS ($100,000.00) PLUS ASSOCIATED
CLOSING COSTS; AND APPROVING A BUDGET ADJUSTMENT
IN THE AMOUNT OF $50,000.00 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 the Fay Jones Trust for the purchase of approximately 2.44 acres
of land located between West and Gregg Avenues for the amount of one
hundred thousand dollars ($100,000.00) plus associated closing costs. 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, -A kaa
hereby approves a budget adjustment in the amount of $50,000.00I6
PASSED AND APPROVED this 21st day of September.+ 00
• •
TO: Mayor and City Council
FROM: Hugh Earnest
DATE: Aug. 25, 2004
RE• Purchase of Fay Jones property
Recommendation
I have been asked to look into this particular situation relative to the purchase of this
important parcel of ground that will be a key addition to the city green and open space
infrastructure in this area. The city has signed an offer and acceptance for $100,000 for
purchase of the 2.44 acre tract with Mr. Fay Jones. In order to secure the funding needed
for this purchase, the Tree and Trail committee was asked to contribute the monies left as
part of the tree ordinance settlement for this acquisition. The committee has
recommended that $50,000 of the slightly more than $100,000 remaining.
We support the recommendation from the Parks and Recreation Advisory Board that the
entire purchase price should come from the Tree Settlement account.
Background
In the Settlement Agreement in the case of League of Women Voters of Washington
County and the Ozark Headwaters Group of the Arkansas Chapter of the Sierra Club, Inc.
v. City of Fayetteville and City of Fayetteville Planning Commission, the City of
Fayetteville agreed to contribute $225,000 in 2001 and $225,000 in 2002 for the
acquisition by the City of trails rights-of-way, conservation easements, and fee simple
estates. These funds have been deposited in a Tree and Trail Fund and used to preserve
trees, environmentally sensitive lands, or lands with significant environmental amenities
or for additions to the city's existing system of multi -use and walking trails.
The City also agreed to establish a Tree and Trails Task Force to advise the City Council
on individual acquisitions of trails rights-of-way, conservation easements, fee simple
estates and other property interests in the utilization of this fund.
The Tree and Trail Task Force has worked for the last three and a half years to identify
and acquire lands in Fayetteville for conservation. The Task Force was instrumental in
the acquisition of the Gateway property.
In the spring of 2004, the Task Force looked at two additional properties for future
acquisition. The first piece of property is 2.46 acres located off of South Duncan Street in
the Town Branch Neighborhood and is currently owned by James Mathias. There has
been an assessment of the site by EGIS as part of a proposed site development. (In
EGIS's professional opinion, the property contains waters of the U.S. The potentially
regulated areas exist as approximately 0.29 acre of wet swale. ') The Town Branch
Neighborhood Association has expressed interest in retaining this property in its natural
EGIS, Inc. Preliminary Wetlands Assessment of July 2002, project number 2051.10
TAbhd unb/ 941/o int& 9/z/oct
state. The Task Force ordered an appraisal on the property in January of 2004. The
appraised value was $86,000, the property owners asking price was $130,000. Because of
the sizable discrepancy in the appraised value and the asking price, the Task Force
declined to make an offer on this property and began to look for alternative properties.
The Second property that the Task Force looked at is located off of West Avenue to the
west of the new City Library. This property is owned by Mr. Faye Jones and is 2.44 acres
in size. This property was identified as a significant greenway through the highly
successful citizen driven Downtown Master Plan, developed by Dover, Kohl and
Partners. The property will be used as a trail corridor for the Center Prairie Trail, and for
additional trail connectivity to the new City Library. Again, the Task Force requested that
the City do an appraisal on the property. The appraisal came back with an appraised value
of $40,000. The Task Force then requested that the Mayor negotiate on their behalf with
the owner, Mr. Jones. The Mayor, after a lengthy negotiation period, reported to the Task
Force on August 18, 2004 that an offer and acceptance contract had been agreed upon by
the Mayor and Mr. Jones for a price of $100,000. The Mayor explained to the Task Force
that there were two additional potential buyers interested in Mr. Jones' property and that
the subsequent negotiations had driven the price up from the $40,000 starting point to the
final offer price of $100,000 matching that of the developers. The property is currently
zoned RMF -24.
The recommendation that the Tree and Trail Task Force has made to the City Council is
that the remaining funds in the Task Force account ($100,246.21) be split between the
two projects. The Task Force recommends appropriating $50,123.10 to the purchase of
the Mathias property located on S. Duncan St. with the remainder of the funding to be
raised by the Neighborhood through various sources. The Task Force then recommends
that Council appropriate the remaining $50,123.10 to the purchase of Mr. Jones' property
located on West Ave., with the balance needed for this purchase to be funded through
various means available to the City.
Discussion
The recommendation of the Tree and Trail Task Force to split the remaining funds
between the Jones property and the Mathias property is not supported by the Parks and
Recreation Advisory Board. It is the position of the Board that the best long term
interests of the city will be met by using the monies to purchase this exceptional green
space parcel that is adjacent to our new library, protects an urban stream corridor and
preserves tree canopy within the urban core. As previously noted in the Downtown
Master Plan this is the only significant greenspace remaining in the downtown area. The
Parks and Recreation Advisory Board voted unanimously on August 24th to recommend
that all the monies remaining go to the purchase of the Jones property. The Park staff is
also of the opinion that this purchase best meets the needs of our park plan relative to
green -space preservation and trail corridors. The Parks Board does not want the Duncan
property in the system.
It should also be noted that in 2003 the Tree and Trails Task Force had recommended the
purchase of 37.74 acres on Clabber Creek and had pledged $180,000 toward that purpose
•
purpose along with a possible commitment of $30,000 from Parks funds. The Mayor,
through negotiation with the property owner, secured the property as a donation at no
cost to the city, making this entire discussion possible.
Budget impact
The recommendation from the Tree and Trail task force would require the city to
appropriate from some source slightly more than $50,000 to complete the purchase of the
Jones property. There would also be some concern that local funds would have to be
used to complete the purchase of the Mathias property. Both actions would be difficult
but possible through an appropriation from the Parks Development Fund.
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•
OFFER AND ACCEPTANCE CONTRACT
defr
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
Purchase Price: Subject to the following conditions, the Buyer shall pay for the
property at closing, the total and cash payment of $ 100,000.
3. Contingent Earnest Money Deposit The Buyer herewith tenders a check for $
to Euine Fay Jones, Trustee of the Fay Jones Trust, hereinafter referred to
as the Seller, as eamest money, which shall apply on the purchase price This offer of
purchase is contingent upon approval of the City Council of the City of Fayetteville,
Arkansas, and, if they do not so approve, the eamest money deposit will be retumed
to the Buyer 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 Buyer. If the Buyer fails to fulfill his obligations under this contract or after all
conditions have been met, the Buyer fails to close this transaction, the 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.
Conveyance will be made to the Buyer by general Warranty Deed, except it shall be
subject to recorded instruments and easements, if any, which do not materially affect
the value of the property. Such conveyance shall indude mineral rights owned by the
Seller.
5. The Seller shall fumish, at Seller's cost, a policy of title insurance in the amount of the
purchase price from a title insurance company as selected by the Buyer.
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 closing.
8. The closing date is designated to be within sixty (60) days after this document has been
approved by the Fayetteville City Council and said document will be submitted to the
Fayetteville City Council within 30 days of acceptance acceptance of this offer by the
Seller. Closing cost, except as specifically noted herein, shall be shared equally
between Seller and Buyer.
•
OFFER AND ACCEPTANCE CONTRACT
Page 2 of 5
9. Possession of the property shall be delivered to the Buyer on the date of closing.
10. Seller hereby grants permission for the Buyer or its employees or designates to enter
the above described property and improvements for the purpose of inspec-tion and/or
surveying.
11. All fixtures, improvements and attached equipment are included in the purchase price.
12. Risk of loss or damage to the property by fire or other casualty occurring up to the time
of closing is assumed by the Seller.
13. Seller shall disclose to Buyer any and all environmental hazards of which Seller has
actual knowledge. Upon acceptance of all conditions and terms of this Offer and
Acceptance, Buyer 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 Buyer's discretion, Buyer may cure such environmental hazard, and
Seller shall indemnify Buyer for all costs associated with said cure.
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 statement shall be considered a part hereof.
16. This contract expires, if not accepted by the Seller on or before the 22nd day of June,
2004.
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 $ EARNEST MONEY DEPOSIT.
OFFER AND ACCEPTANCE CONTRACT
Page 2 of 5
•
9. Possession of the property shall be delivered to the Buyer on the date of closing.
10. Seller hereby grants permission for the Buyer or its employees or designates to enter
the above described property and improvements for the purpose of inspec-tion and/or
surveying.
11. All fixtures, improvements and attached equipment are included in the purchase price
12. Risk of loss or damage to the property by fire or other casualty occurring up to the time
of closing is assumed by the Seller.
13. Seller shall disclose to Buyer any and all environmental hazards of which Seller has
actual knowledge. Upon acceptance of all conditions and terms of this Offer and
Acceptance, Buyer 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 Buyer's discretion, Buyer may cure such environmental hazard, and.
Seller shall indemnify Buyer for all costs associated with said cure.
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 by the Seller on or before the 22nd day of June,
2004.
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 $ EARNEST MONEY DEPOSIT.
•
OFFER AND ACCEPTANCE CONTRACT
Page 4 of 5
EXHIBIT "A".
PROPERTY DESCRIPTION
(Deed Book 1031 at Page 736)
A part of the NW'/. of the SE% of Section 16, Township 16 North, Range 30 West of the
5th P.M., being more particularly described as follows, to -wit Commencing at a found two
inch iron pin marking the southwest comer of the NW% of the SE% of said section,
township and range, which iron pin also marks the intersection of the South boundary
line of the right of way of South Street with the West boundary line of the right of way of
Gregg Avenue; thence South 88° 30' 40" East along the South boundary line of South
Street a distance of 37.33 feet to a point; thence North 00" 04' 40" East a distance of
65.12 feet to a found iron pin marking the Southwest comer of Block 36 of the Original
Town (now City) of Fayetteville, Arkansas, and which found iron pin also marks the
intersection of the East boundary line of the right of way of Gregg Avenue and the North
boundary line of the right of way of South Street thence Northerly along the East
boundary line of the right of way of Gregg Avenue to a set iron pin which marks the
Northwest comer of said Block 36 at the intersection of the East boundary line of the right
of way of Gregg Avenue and the South boundary line of the right of way of Rock Street;
thence Easterly along the South boundary line of the right of way of Rock Street to a set
iron pin marking the intersection of the West boundary line of the right of way of the St
Louis -San Francisco Railway and the South boundary line of the right ofway of Rock
Street; thence Southerly along the West boundary line of said railroad right of way to a
get iron-pin-.marking_the-intersection-of-the-West-boundary line -0f -said -railroad -right -of
way with the North boundary line of the right of way of South Street thence Westerly
along the North boundary line of the right of way of South Street to the point of beginning,
said area being designated as Lot 1 of Block 36 of the Original Town of Fayetteville,
Arkansas, according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums
and McDonnell, Engineers, Kansas City, Missouri. Also, beginning at an iron pin set on
the West boundary line of the right of way of West Avenue at a point 158 feet South of
a set iron pin which marks the Northeast comer of Block 36 in the Original Town (now
City) of Fayetteville, Arkansas, and which set iron pin also marks the intersection of the
West boundary line of the right of way of West Avenue and the South boundary line of
the right of way of Rock Street thence Southerly along the West boundary line of the
right of way of West Avenue to a found iron pin which marks the Southeast comer of said
Block 36 at the intersection of the West boundary line of the right of way of West Avenue
and the North boundary line of the right of way of South Street thence Westerly along
the North boundary line of the right of way of South Street to a set iron pin which marks
the intersection of the North boundary line of the right of way of South Street and the
East boundary line of the right of way of the St. Louis -San Francisco Railway; thence
Northerly along the East boundary line of the railroad right of way to an iron pin set on
the East boundary line of said railroad rightof way at a point which is North 88° 30' 40"
West of the point of beginning; thence South 88° 30' 40" East a distance of 148 feet to
the point of beginning, said area being designated as Lots 5, 6, and 7 of Block 36
according to the Map of Fayetteville, Arkansas, surveyed and drawn by Burns and
McDonnell, Engineers Kansas City, Missouri. It being the intention in the above
description all of Block 36, in the Original Town (now City) of Fayetteville, Arkansas,
LESS AND EXCEPT the following described real estate, to -wit A strip of real estate 100
feet in width running parallel with the located centerline of the St Louis -San Francisco
Railroad right of way and measuring 50 feet in width on both sides of said centerline.
Also, LESS AND EXCEPT that part of said Block 36 lying North of a line parallel to and
158 feet South of the North line of said Block and lying East of the East boundary line of
the SL Louis -San Francisco Railway right of way and West of the West boundary line of
the right of way of West Avenue in the City of Fayetteville, Arkansas
OFFER AND ACCEPTANCE CONTRACT
Page 3 of 5
SELLER:
Fay Jones Trust
pEui a Fay Jones, trustee
AGENT OR WITNESS:
lartne-L.
Date:
Date: -�- 200(.
BUYER:
City of Fayetteville, Arkansas,
a municipal corporation
Dan Goody, Mayor
A044.40144.___ caa
Sondra Smith, City Clerk
Date:
Date: 7//6A9
(SEAL)
OFFER AND ACCEPTANCE CONTRACT
Page 4 of 5
EXHIBIT "A".
PROPERTY DESCRIPTION
(Deed Book 1031 at Page 736)
A part of the NW'/ of the SE% of Section 16, Township 16 North, Range 30 West of the
5'h P.M., being more particularly described as follows, to -wit: Commencing at a found two
inch iron pin marking the southwest comer of the NW% of the SE% of said section,
township and range, which iron pin also marks the intersection of the South boundary
line of the right of way of South Street with the West boundary line of the right of way of
Gregg Avenue; thence South 88° 30' 40" East along the South boundary line of South
Street a distance of 37.33 feet to a point thence North 00° 04' 40" East a distance of
65 12 feet to a found iron pin marking the Southwest corner of Block 36 of the Original
Town (now City) of Fayetteville, Arkansas, and which found iron pin also marks the
intersection of the East boundary line of the right of way of Gregg Avenue and the North
boundary line of the right of way of South Street thence Northerly along the East
boundary line of the right of way of Gregg Avenue to a set iron pin which marks the
Northwest comer of said Block 36 at the intersection of the East boundary line of the right
of way of Gregg Avenue and the South boundary line of the right of way of Rock Street
thence Easterly along the South boundary line of the right of way of Rock Street to a set
iron pin marking the intersection of the West boundary line of the right of way of the St.
Louis -San Francisco Railway and the South boundary line of the right of way of Rock
Street thence Southerly along the West boundary line of said railroad right of way to a
set iron. -pin -marking -the -intersection -of -the -West -boundary -line -of -said -railroad -right -of.
way with the North boundary line of the right of way of South Street thence Westerly
along the North boundary line of the right of way of South Street to the point of beginning,
said area being designated as Lot 1 of Block 36 of the Original Town of Fayetteville,
Arkansas, according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums
and McDonnell, Engineers, Kansas City, Missouri. Also, beginning at an iron pin set on
the West boundary line of the right of way of West Avenue at a point 158 feet South of
a set iron pin which marks the Northeast corner of Block 36 in the Original Town (now
City) of Fayetteville, Arkansas, and which set iron pin also marks the intersection of the
West boundary line of the right of way of West Avenue and the South boundary line of
the right of way of Rock Street thence Southerly along the West boundary line of the
right of way of West Avenue to a found iron pin which marks the Southeast comer of said
Block 36 at the intersection of the West boundary line of the right of way of West Avenue
and the North boundary line of the right of way of South Street thence Westerly along
the North boundary line of the right of way of South Street to a set iron pin which marks
the intersection of the North boundary line of the right of way of South Street and the
East boundary line of the right of way of the St Louis -San Francisco Railway, thence
Northerly along the East boundary line of the railroad right of way to an iron pin set on
the East boundary line of said railroad right of way at a point which is North 88° 30' 40"
West of the point of beginning. thence South 88° 30' 40" East a distance of 148 feet to
the point of beginning, said area being designated as Lots 5, 6, and 7 of Block 36
according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums and
McDonnell, Engineers Kansas City, Missouri. It being the intention in the above
description all of Block 36, in the Original Town (now City) of Fayetteville, Arkansas,
LESS AND EXCEPT the following described real estate, to -wit A strip of real estate 100
feet in width running parallel with the located centerline of the St. Louis -San Francisco
Railroad right of way and measuring 50 feet in width on both sides of said centerline.
Also, LESS AND EXCEPT that part of said Block 36 lying North of a line parallel to and
158 feet South of the North line of said Block and lying East of the East boundary line of
the St. Louis -San Francisco Railway right of way and West of the West boundary line of
the right of way of West Avenue in the City of Fayetteville, Arkansas.
P
0
OFFER AND ACCEPTANCE CONTRACT
Page 5 of 5
ACKNOWLEDGMENT
STATE OF ARKANSAS
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 Euine Fay Jones, to me
well known as the person who executed the foregoing document, and who stated and acknowledged that
he is Trustee of Fay Jones Trust, and is duly authorized to execute the foregoing instrument for and in
the name and behalf of said Trust, and further stated and acknowledged that he 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 day of 2004.
yty *E"' EDWARD D. CONNEL&
washington County
MY COMMISSION EXPIR ��. MycomnssmE*res
'SIZ,,,".t May 1, 2010
a5 -O/- ZJ/b
ACKNOWLEDGMENT
STATE OF ARKANSAS
ss.
COUNTY OF WASHINGTON
Notary Public
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 4 49J7
Notary Public
MY COMMISSION EXPIRE _=: EDWARD D. CONNELL
: :tee Washmglon Coup
Q�'�/ �% •-•'q Ns�*; My Commission Expires
May 1, 2010
STAFF REW FORM -FINANCIAL OBLIGATIONS
X AGENDA REQUEST
CONTRACT REVIEW
GRANT REVIEW
For the Fayetteville City Council Meeting of: September 7, 2004
Tim Conklin
CP&E
CP&E
Name Division Department
ACTION REQUIRED: Approval of a contract to purchase 2.44 acres for the amount of $100,000 from Fay Jones
Trust.
COST TO CITY:
$100,000.00 $ 100,246.24
Cost of this request - Category/Project Budget
4470.1544.00
Account Number
Project Number
$
Funds Used to Date
$ - 100,246.24
Remaining Balance
BUDGET REVIEW Budgeted
Budget M nagez Date
CONTTR.ACT/GRANT/LLEEAAASE REVIEW:
ACcou ting M��
City,At orney
STAFF
Division Head
Depar ent Director
Finance & Internal Services Dir.
Escrow - Tree & Trails Trust
Program Category / Project Name
Program / Project Category Name
Sales Tax Capital
Fund Name
Budget Adjustment AA tac
A/�c, Int }rnal Au itor 8 Date
O
`62 d 1JJt&Q
Date Purchasing Manager Date
contract and
Date
_oq
Date
Date
19-D t-0
Date
Set adjustment. o / a
Received in Mayor's Office G
Date:
Cross Reference:
Previous Ord/Res#:
Orig. Contract Date:
Orig. Contract Number:
New Item:
Yes No
FAYETTEVILLE
THE CITY OF FAYETTEVILLE, ARKANSAS
City Clerk Division
113 West Mountain
Fayetteville, AR 72701
Telephone: (479) 575-8323
DEPARTMENTAL CORRESPONDENCE
To: Leif Olson
Planning Division
From: Clarice Buffalohead-Pearma*
City Clerk Division
Date: September 27, 2004
Re: Resolution No. 145-04
The City Council passed a resolution September 21, 2004, approving the Offer and
Acceptance Contract for the Fay Jones Trust purchase of 2.44 acres. I have attached a
copy of the resolution.
The resolution will be recorded in the city clerk's office and microfilmed. If anything
else is needed please let the clerk's office know.
/cbp
cc: Nancy Smith, Internal Auditor
Barbara Fell, Budget & Research
•
Parcel No. 765-02035-000
TRUSTEE'S
WARRANTY DEED
BE IT KNOWN BY THESE PRESENTS:
THAT I, Mary Elizabeth Jones, Successor Trustee of the Euine Fay
Jones Trust, hereinafter called GRANTOR, 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
the County of Washington, State of Arkansas, to -wit:
Doc ID: 007829020003 Tvoe: REL
Recorded: 11/02/2004 at 10:43:19 AM
Fee Amt: $S*.00 Pace I of 72
Washlnaton County. AR
Bette Stamps Circuit Clerk
F11e2004-00045232
SEE ATTACHED EXHIBIT "A" FOR PROPERTY DESCRIPTION
TO HAVE AND TO HOLD the said lands and appurtenances thereunto belonging unto the said Grantee and
Grantee's successors and assigns, forever. And said Successor Trustee, in behalf of the said Trust, hereby covenants with
the said Grantee that said Trust is lawfully seized of said lands and premises; that the same is unencumbered, and that the
said Trust will forever warrant and defend the title to the said lands against all legal claims whatsoever.
WITNESS the execution hereof on this 3 day of %�rrr�,� t u , 2004.
Euine Fay Jones Trust
BY: /// (G co 4 Z 071PQ
Mary Esfrabeth J nes, Succ sor Trustee
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 Mary Elizabeth Jones, to me well known as the person who
executed the foregoing document, and who stated and acknowledged that she is Successor Trustee of the Euine Fay Jones
Trust, and that she is duly authorized to execute the foregoing instrument for and in the name and behalf of said Trust, and
further stated and acknowledged that shehad 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 day of 5 ^-I-t , 2004.
e"
• rll?� rs. r � ,r icy-.
Notary Public
I
EXHIBIT "A"
PROPERTY DESCRIPTION
(Deed Book 1031 at Page 736)
A part of the NW% of the SE!. of Section 16, Township 16 North, Range 30 West of the
5" P.M., being more particularly described as follows, to -wit: Commencing at a found two
inch iron pin marking the southwest comer of the NW% of the SEY. of said section,
township and range, which iron pin also marks the intersection of the South boundary
line of the right of way of South Street with the West boundary line of the right of way of
Gregg Avenue; thence South 88° 30' 40" East along the South boundary line of South
Street a distance of 37.33 feet to a point thence North 00° 04' 40" East a distance of
65.12 feet to a found iron pin marking the Southwest comer of Block 36 of the Original
Town (now City) of Fayetteville, Arkansas, and which found iron pin also marks the
intersection of the East boundary line of the right of way of Gregg Avenue and the North
boundary line of the right of way of South Street; thence Northerly along the East
boundary line of the right of way of Gregg Avenue to a set iron pin which marks the
Northwest comer of said Block 36 at the intersection of the East boundary line of the right
of way of Gregg Avenue and the South boundary line of the right of way of Rock Street;
thence Easterly along the South boundary line of the right -of way of Rock Street to a set
iron pin marking the intersection of the West boundary line of the right of way of the St
• Louis -San Francisco Railway and the South boundary line of the right of way of Rock
Street thence Southerly along the West boundary line of said railroad right of way to a
set iron pin marking the intersection of the West boundary line of said railroad right of
way with the North boundary line of the right of way of South Street thence Westerly
along the North boundary line of the right of way of South Street to the point of beginning,
said area being designated as Lot 1 of Block 36 of the Original Town of Fayetteville,
Arkansas, according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums
and McDonnell, Engineers, Kansas City, Missouri. Also, beginning at an iron pin set on
the West boundary line of the right of way of West Avenue at a point 158 feet South of
a set iron pin which marks the Northeast comer of Block 36 in the Original Town (now
City) of Fayetteville, Arkansas, and which set iron pin also marks the intersection of the
West boundary line of the right of way of West Avenue and the South boundary line of
the right of way of Rock Street thence Southerly along the West boundary line of the
right of way of West Avenue to a found iron pin which marks the Southeast comer of said
Block 36 at the intersection of the West boundary line of the right of way of West Avenue
and the North boundary line of the right of way of South Street thence Westerly along
the North boundary line of the right of way of South Street to a set iron pin which marks
the intersection of the North boundary line of the right of way of South Street and the
East boundary line of the right of way of the St Louis -San Francisco Railway; thence
Northerly along the East boundary line of the railroad right of way to an iron pin set on
the East boundary line of said railroad right of way at a point which is North 88° 30' 40"
West of the point of beginning; thence South 88° 30' 40" East a distance of 148 feet to
the point of beginning, said area being designated as Lots 5, 6, and 7 of Block 36
according to the Map of Fayetteville, Arkansas, surveyed and drawn by Bums and
McDonnell, Engineers, Kansas City, Missouri. It being the intention in the above
description all of Block 36, in the Original Town (now City) of Fayetteville, Arkansas,
LESS AND EXCEPT the following described real estate, to -wit A strip of real estate 100
feet in width running parallel with the located centerline of the St Louis -San Francisco
Railroad right of way and measuring 50 feet in width on both sides of said centerline.
Also, LESS AND EXCEPT that part of said Block 36 lying North of a line parallel to and
158 feet South of the North line of said Block and lying East of the East boundary line of
the St Louis -San Francisco Railway right of way and West of the West boundary line of
the right of way of West Avenue in the City,of Fayetteville, Arkansas.
9
--
Washington County, AR
I certify this instrument was filed on
11/02/2004 10:43:19 AM
and recorded in Real Estate
File Number 2004.00045232
Bette Stamps . Circuit C rk
by
e r
A U.B.
SETTLEMENT STATEMENT I 1. Li FHA 2. LJ FHMA 3, L CONY. UNMs.
1 8. MORTGAGE MS. CASE NO.:
C. NOTE: This form is furnished to give you a statement of actual settlement costs. Avionics paid to and by din mntca ent agent ere shown. Items
marked '(p.o.c.)' were paid outride the closing; they arc shown here for informational purposes and are not included m the totals.
D. NAME& ADDRESS The City of Fayetteville
OF BORROWER: 11) West Mountain, Fayetteville, AR 72701
E. NAME& ADDRESS Fay Jones Trust
OF SELLER: Between 207 Md 301 Gregg Ave., Fayetteville, AR 72703
F. NAME& ADDRESS
G. PROPERTY LOCATION: Between 207 And 301 Gregg Ave. Fayetteville, AR 72703
H. SETTLEMENT AGENT: Bronson Abstract Co., Inc.
PLACE OF SETTLEMENT: 3810 Front Street, Suite5, FayettMllc AR 72703 (479) 442-2700
1. SETTLEMENT DATE: II/032004 DISBURSEMENT DATE: 11/03/2004
I Crammer„ of Rnvnme'e Trsnea,-elnn K. Summvv nfSeller's TramfeLes
100.
Gross Amount Due From Borrower:
400.
Gross Amount Due To Seller:
101.
Connactsaks
100000.00
401.
Conuact sales price
100000.00
102.
Prroonal
402.
Personal
103.
Settlementca eto bonower: ine 1400
136.00
403.
104.
404.
105.
405.
Ad'ustme ts For Items Paid By Seller In Advance:
Adjustments For Items Paid By Seller In Advance:
106.
Cityflown lazes to
406.
Cu own taxes To
107.
County razes to
407.
County Cowuyt&xes to
108.
Assessmrnb to
408.
Assessments to
109.
409.
110.
410.
III.
411.
112.
412.
113.
413.
114.
414.
115.
415.
116.
416.
120.
Gross Amount Due From Borrower:
100136.00
420.
Gross Amount Due To Seller:
100,000.00
00.
Amognts hidr In Behalf0 0
Reductions o nDoe To Seller:
201.
Dwosit or earnest
S01.
Excess deposit (see insuuclpm
202.
Ptinci�.I ampYN of new bRgs)
502.
Settlement tharsts to tttla (line 1400)
515.00
203.
Existing loan(s) taken sub' 0
503.
Existing 1 s taken mb'w to
204.
504.
Payoff 1st M In.
205.
505.
Payoff 2ad MI& In.
206.
506.
207.
507.
208.
508.
209.
509.
210.
Adjustments For Items Unpaid By Seller:
City/Iowa taxes to
Adjustments For Items Unpaid By Seller:
510. C Aown taxes to
211.
County taxes 01/01/04 to 11/03/04
386.02
511.
County razes 01/01/04 to 11/03/04
386.02
212.
Asscumcnls to
$12.
Assessments to
213.
513.
214.
$14.
215.
515.
216.
516.
217.
517.
218.
518.
219.
519.
220.
Total Paid By/For
Borrower:
386 '02
520.
Total Reductions
In Amount Due Seller:
901.02
300.
Cash At SettlementoBorrower,
600.
Cash At Sen lenient m eller,
301.
Gross mount due from bonowes (lint 120)
100136.(0
601.
Gross amount due to seller fine 4201
100000,00
302.
Lett amount poidby/for borrower(line 220)
386.02
602.
Less reductions in amount due stiles fine 520)
901.02
303.
Cash (b(FROM) f_ -}r0) Borrower:
99,749.98
603.
Cash d 1TO) IJFROM) Seller:
99,098.98
rmv,ous t000n is u0solete SB4-35350001
Form No. 1581 HUD -I (3-86)
3/86 RESPA, HB 4305.2
Page I of 3
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•SELLER'S AND/OR BORROWER' EMENT Esuow: FATIC-15932-04
I have carefully reviewed the HUD -I Settlement Statement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and
disbursements made on my account or by me in this transaction. I further certify that! have received a copy of the HUD -I Settlement Statement.
Borrowers/Purchasers
The Ci fl=aye0eville j
B P.�6e
Sellers
Fay Jones Trust
By:
Mary Eli eth Jones rustee
The HUD -I Settlement Statement which I have prepared is a true and stturate account of this transaction. I have caused or will cause the funds to be
disbursed in accordance with this statement.
Settlement Agent: .....__.__...__..____—_____....._.._.--.-
Becky Osbum, Bronson Abstract Co., Inc.
WARNING: It is a crime to knowingly make false statements to the United States on this or any other similar form. Penalties upon conviction can include a
fine or imprisonment. For details see:Title 18 U.S. Code Section 1001 and Section 1010.
600/400Q5
Page3 of3
.LOV&LSBV NOSNONB ZT96 SLS 6LP IVd 9k:C1 CHAt POOZ/LZ/01
CITY of FAYETTEVILLE, ARKANSAS -
• CHECK NO. 333416
DATE
INVOICE NO.
DESCRIPTION
AMOUNT
11/01/2004
0000034481
Closing Costs Euine Fay Jones Trust
99,749.98
CHECK AMOUNT
$99,749.98
. ..-.,
11' 3 3 34 1611' •:08 29008 7 2,: 484 1984411.06
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Form MAP.PLAT— 'TOTAL for Windows' appraisal software by a la mode, inc. — 1 -800-ALAMODE
• Survey Map
Borrower Client N/A
Property Address West Ave. & South St.
City Fayetteville County Washington State AR Zip Code 72701
Lender The City of Fayetteville
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EASEMENT MAP
JOB NO. 0106-6100
CLIENT: CITY OF FAYETTEVILLE
PUBLIC LIBRARY
DATE: NOVEMBER 8, 2001
PROPOSED 20 FOOT DRAINAGE
EASEMENT ACROSS A PORTION OF
BLOCK 36 OF THE ORIGINAL TOWN
OF FAYETTEMLLE. FAY JONES TRUST
PROPERTY BEING DESCRIBED IN 800K
1031 PACE 736 IN THE OFFICE OF.
THE CIRCUIT AND EX —OFFICIO
RECORDER. OF WASHINGTON
COUNTY. ARKANSAS.
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CITY OF FAYETTEVILLE
CPS CONTROL NETWORK
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Form MAP.Survey—'TOTAL for Windows" appraisal software by a la mode, Inc.—1.800•ALAMODE
• Flood Map
Borrower Client N/A
Propeily Address West Ave. & South St.
City Fayetteville County Washington State AR Zip Code 72701
Lender The City of Fayetteville
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InterFlood Parrish Appraisals, Inc.
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Form MAP.FL000 — "TOTAL for Windowsappraisal software by a la mode, inc. —1.800-ALAMODE
• •
SUMMARY OF SALIENT FEATURES
Subject Address
West Ave. & South St.
Legal Description
All 81k 36 E & W of RR Except N 158'
City
Fayetteville
•County
Washington
State
AR
Zip Code
72701
Census Tract
107.01
Map Reference
05143C00920
Sale Price
$ n/a
Date of Sale
n/a
Borrower / Client
N/A
Lender
The City of Fayetteville
Size (Square Feet)
n/a
Pace per Square Foot
$ n/a
Location
n/a
Age
n/a
Condition
n/a
'
Total Rooms
n/a
Bedrooms
n/a
Baths
n/a
'
Appraiser
Joshua A. Smith
Date of Appraised Value
April 21st, 2004
Final Estimate of Value
$ 40,000
Form SSD —'TOTAL for Windows' appraisal software by a la mode, inc.—1-800•ALAMODE
0
DEFINITION OF MARKET VALUE: The most probable price which a property should bring in a competitive and open market under all conditions
requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this
definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are
typically motivated; (2) both parties are well informed or well advised, and each acting in what he considers his own best interest; (3) a reasonable time is allowed
for exposure in the open market; (4) payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and (5) the price
represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with
the sale.
• Adjustments to the comparables must be made for
special or
creative financing or sales concessions. No
adjustments are necessary
for those costs which are normally paid by sellers
as a result
of tradition or law in a market area; these
costs are readily identifiable
since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the
comparable property by comparisons to financing terms offered
by a third party institutional lender that is
not already involved in the
property or transaction. Any adjustment should not
be calculated on a mechanical dollar for dollar cost of
the financing or concession
but the dollar amount of any adjustment should
approximate
the market's reaction to the financing or
concessions based on the
appraiser's judgement.
STATEMENT OF LIMITING
AND APPRAISER'S CERTIFICATION
CONTINGENT AND LIMITING CONDITIONS: The appraiser's certification that appears in the appraisal report is subject to the following
conditions:
1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the tide to it The appraiser assumes that
the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis of it being under responsible
ownership.
2. The appraiser has provided a sketch in the appraisal report to show approximate dimensions of the improvements and the sketch is included only to assist
the reader of the report in visualizing the property and understanding the appraisers determination of its size.
3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted
in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes
no guarantees, express or implied, regarding this determination.
4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do
so have been made beforehand.
5. The appraiser has estimated the value of the land in the cost approach at its highest and best use and the Improvements at their contributory value. These
separate valuations of the land and improvements must not be used in conjunction with any other appraisal and are invalid it they are so used.
6. The appraiser has noted in the appraisal report any adverse conditions (such as, needed repairs, depreciation, the presence of hazardous wastes, toxic
substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the normal research involved in performing
the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent conditions of the property or
adverse environmental conditions (including the presence of hazardous wastes, toxic substances, etc.) that would make the property more or less valuable, and
has assumed that there are no such conditions and makes no guarantees or warranties, express or implied, regarding the condition of the property. The
appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such
conditions exist Because the appraiser is not an expert in the field of environmental hazards, the appraisal report must not be considered as an
environmental assessment of the property.
7. The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he of she considers to be
reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items that were furnished by other
parties.
8. The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice.
9. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal
that is subject
to satisfactory
completion, repairs, or
alterations on the assumption that completion of the improvements will be performed in a workmanlike manner.
10. The appraiser must provide his or her prior written consent before the lender/client specified in the appraisal report can distribute the appraisal report
(including conclusions about the property value, the appraiser's identity and professional designations, and references to any professional appraisal
organizations or the firm with which the appraiser is associated) to anyone other than the borrower; the mortgagee or its successors and assigns; the mortgage
insurer, consultants; professional appraisal organizations; any state or federally approved financial institution; or any department, agency, or instrumentality
of the United States or any state or the District of Columbia; except that the lender/client may distribute the property description section of the report only to data
collection or reporting service(s) without having to obtain the appraisers prior written consent. The appraisers written consent and approval must also
be obtained before the appraisal can be conveyed by anyone to the public through advertising, public relations, news, sales, or other media.
Freddie Mac Form 439 6-93 Page 1 of 2
APPRAISALS, INC. (501) 442-5804
Form ACR —'TOTAL for Windows' appraisal software by a la mode, Inc. — 1-800-ALAM0DE
Fannie Mae Form 10048 6-93
1. I have researched the subject market area and have selected a minimum of three recent sales of properties most similar and proximate to the subject property
for consideration in the sales comparison analysis and have made a dollar adjustment when appropriate to reflect the market reaction to those items of significant
variation. it a significant item in a comparable property is superior to, or more favorable than, the subject property, I have made a negative adjustment to reduce
the adjusted sales price of the comparable and, g a significant item in a comparable property is inferior to, or less favorable than the subject property, I have made
a positive adjustment to increase the adjusted sales price of the comparable.
2. I have taken into consideration
the factors that have an impact
on value in
my development
of the estimate of market value
in the appraisal
report. I have not
knowingly withheld any significant
information from the appraisal
report and I
believe, to the
best of my knowledge, that all
statements and
information in the
appraisal report are true and correct.
3. I stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the contingent
and limiting conditions specified in this form.
4. I have no present or prospective interest in the property that is the subject to this report, and I have no present or prospective personal interest or bias with
respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the estimate of market value in the appraisal report
on the race, color, religion, sex, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present
owners or occupants of the properties in the vicinity of the subject property.
5. I have no present or contemplated future interest in the subject property, and neither my current or future employment nor my compensation for performing this
appraisal is contingent on the appraised value of the property.
6. I was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the amount of the value estimate,
the attainment of a specific result, or the occurrence of a subsequent event in order to receive my compensation and/or employment for performing the appraisal. I
did not base the appraisal report on a requested minimum valuation, a specific valuation, or the need to approve a specific mortgage loan.
7. I performed this appraisal in conformity with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal
Standards Board of The Appraisal Foundation and that were in place as of the effective date of this appraisal, with the exception of the departure provision of those
Standards, which does not apply. I acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value
and the estimate I developed is consistent with the marketing time noted in the neighborhood section of this report, unless I have otherwise stated in the
reconciliation section.
6. I have personally inspected the interior and exterior areas of the subject property and the exterior of all properties listed as comparables in the appraisal report
I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject site, or on any site within the immediate
vicinity of the subject property of which I am aware and have made adjustments for these adverse conditions in my analysis of the property value to the extent that
I had market evidence to support them. I have also commented about the effect of the adverse conditions on the marketability of the subject property.
9. I personally prepared all conclusions
and opinions about the
real estate that were set forth
in the appraisal report If I
relied on significant professional
assistance from any individual or individuals in the performance of
the appraisal or the preparation
of the appraisal report, I have named such individual(s) and
disclosed the specific tasks performed by
them in the reconciliation
section of this appraisal report.
I certify that any individual
so named is qualified to perform
the tasks. I have not authorized anyone to
make a change to any item in the report; therefore, it an
unauthorized change is made
to the appraisal report, I will take
SUPERVISORY APPRAISER'S CERTIFICATION: ti a supervisory appraiser signed the appraisal report, he or she certifies and agrees that:
I directly supervise the appraiser who prepared the appraisal report, have reviewed the appraisal report, agree with the statements and conclusions of the appraiser,
agree to be bound by the appraiser's certifications numbered 4 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
State: AR =S..----•- State: AR
Expiration Date of Certification or License: 06/3 - Expiration Date of Certification or
APPRAISAL AND REPORT IDENTIFICATION
This appraisal conforms to one of the following definitions:
® Complete Appraisal (The act or process of estimating value, or an opinion of value, performed without invoking the Departure Rule.)
❑ Limited Appraisal (The act or process of estimating value, or an opinion of value, performed under and resulting from invoking the
Departure Rule.)
This report Is one of the following types:
❑ Self Contained (A written report prepared under Standards Rule 2-2(a) of a Complete or Limited Appraisal performed under STANDARD 1.)
❑ Summary (A written report prepared under Standards Rule 2-2(b) of a Complete or Limited Appraisal performed under STANDARD 1.)
® Restricted (A written report prepared under Standards Rule 2-2(c) of a Complete or Limited Appraisal performed under STANDARD 1,
restricted to the stated intended use by the specified client or intended user.)
Comments on Standards Rule 2-3
I certify that to the best of my knowledge and belief:
❑ The statements of fact contained in this report are true and correct.
❑ The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial, and unbiased
professional analyses, opinions and conclusions.
❑ I have no present or prospective interest in the property that is the subject of this report, and no (or the specified) personal interest with respect to the
parties involved.
❑ I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
❑ My engagement in this assignment was not contingent upon developing or reporting predetermined results.
❑ My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in 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 intended use of this appraisal.
D My analyses, opinions and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice.
❑ I have made a personal inspection of the property that is the subject of this report.
D No one provided significant real property appraisal assistance to the person signing this certification.
Comments on Appraisal and Report Identification
Note any departures from Standards Rules 1-3 and 1-4, plus any USPAP-related issues requiring disclosure:
No departures were invoked for this appraisal report.
APPRAISER: "p,uuun,n
Signature: K �r opP 4 .•••• •qr7 9 0
Name: JoshItLth'5=
Date Signed: April 28th, 2004 S : STATE ••rte
State Certification #: _: RE(;ISTERED
or State License #: SR2277 a fiD97"
State: AR '
Expiration Date of Certification or License: 06/ • • `
rrnuAuAn'
SUPERVISORY
// PRAISER (onf if eijuired):
Signature: �j_ 7
Name: Don L. Cramer "` SS APPp
Date Signed: April 28th, 2004 .0 b�:•••'••A�lp
State Certification #: CG2171
or State License #: Iy-
State: AR CERTWIED
:
Expiration Date of Certification or Licensi 08130
® Did ❑ Did Not Inspect ProperiO„'
APPRAISALS, INC. (501) 442-5804
Form IDS —'TOTAL for Windows' appraisal software by a la mode, inc. — 1 -800-ALAMODE
AD APPRAISAL REPORT •
File No. 900340
Borrower N/A Census Tract 107.01 Map Reference 05143CO0920
Property Address West Ave. & South St.
City Fayetteville County Washington State AR Zip Code 72701
Legal Description All Blk 36 E & W of RR Except N 158'
Sale Price $ n/a Date of Sale n/a Loan Term n/a yrs. Property Rights Appraised ® Fee ❑ Leasehold ❑ De Minimis PUD
Actual Real Estate Taxes $ 417.00 (yr) Loan charges to be paid by seller $ n/a Other sales concessions
_
Lender/Client The City of Fayetteville Address 113 W. Mountain St., Fayetteville, Ar. 72701
Occupant Vacant Appraiser Joshua A. Smith Instructions to Appraiser Estimate the Market Value of the subject +/- 2.44
acres of vacant land.
Location Urban Li Suburban Rural Good Avg. Fair Poor
Built Up ® Over 75% ❑ 25% to 75% ❑ Under 25% Employment Stability ® ❑ ❑ ❑
Growth Rate ❑ Fully Dev. ❑ Rapid ® Steady ❑ Slow Convenience to Employment ® ❑ ❑ ❑
Property Values ❑ Increasing ® Stable ❑ Declining Convenience to Shopping ❑ ® ❑ ❑
Demand/Supply ❑ Shortage ® In Balance ❑ Oversupply Convenience to Schools ® ❑ ❑ ❑
Marketing Time ❑ Under 3 Mos. ® 4-6 Mos. ❑ Over 6 Mos. Adequacy of Public Transportation ❑ ® ❑ ❑
Present Land Use %1Family 30% 2.4 Family _%Apts. ____% Condo 30% Commercial Recreational Facilities ❑ ® ❑ ❑
_
20% Industrial—% Vacant 20% Public Adequacy of Utilities ❑ ® ❑ ❑
Change in Present Land Use ® Not Likely ❑ Ukely (*) ❑ Taking Place (*) Property Compatibility ❑ ® ❑ ❑
(•) From To Protection from Detrimental Conditions ❑ ® ❑ ❑
Predominant Occupancy ® Owner ❑ Tenant % Vacant Police and Fire Protection ❑ ® ❑ ❑
Single Family Price Range $ n/a to $ n/a Predominant Value $ n/a General Appearance of Properties ❑ ® ❑ ❑
Single Family Age n/a yrs. to n/a yrs. Predominant Age n/a yrs. Appeal to Market ❑ ® ❑ ❑
Comments including those factors, favorable or unfavorable, affecting marketability (e.g. public parks, schools, view, noise): The subject nei hborhood boundaries are
loosely defined as Dickson St. to the north, 6th St. to the south, College Ave. at the east, and the University of Arkansas Campus to the west.
The surrounding zoning classifications are diverse with a combination of Industrial commercial, residential office, multi -family, and public uses.
Dimensions 551' X 63' X 307' X 98/145' X 267' X 169' X385' = 2.44 Sq. Ft. or Acres D Comer Lot
Zoning classification Residential Office -R -O Present Improvements ❑ do ❑ do not conform to zoning regulations
Highest and best use ❑ Present use Other s ecif Public use
in
Public Other (Describe) OFF SITE IMPROVEMENTS Topo Severe Sloping
Elec. ® Street Access ® Public ❑ Private Size 2.44 acres
Gas ® Surface Asphalt Shape Irregular
Water ® Maintenance ® Public ❑ Private View Fair
San, Sewer ® ❑ Storm Sewer ❑ Curb/Gutter Drainage Average
❑ Underground Elect. & Tel. Sidewalk Street Li hts Is the property located In a HUD Identified Special Flood Hazard Area? ® No ❑ Yes
Comments (favorable or unfavorable including any apparent adverse easements, encroachments, or other adverse conditions): The to rah of the subject site can be
described as semi non -developable due to steep declines and rugged overall terrain. The site is heavily wooded in most areas.
The undersigned has recited three recent sales of properties most similar and proximate to subject and has considered these in the market analysis. The description includes a dollar
adjustment reflecting market reaction to those items of significant variation between the subject and comparable properties. If a significant hem in the comparable property is superior
to or more favorable than the subject property, a minus (.) adjustment is made thus reducing the indicated value of subject; if a significant item in the comparable is interior to or less
favorable than the subject property, a plus (+) adjustment is made thus increasing the indicated value of the subject.
ITEM
I SUBJECT PROPERTY
COMPARABLENO.1
COMPARABLENO.2
COMPARABLENO.3
Address West Ave. & South St.
Lot 7 Happy Hollow
Mimosa
Sunshine
Fayetteville
Fayetteville
Fayetteville
Fayetteville
Proximity to Subject
e. "._.
Sales Price
n/a
24 500:
.:��_$_30.000
Price Sq_ . R.
n/a
-
_501000
0.77
.
0.32
`::"Y '" .�::. r::
0.65
Data Source
CHR/Site Ins ection
MLS #359138
MLS #391376
MLS #393478
Date of Sale and
DESCRIPTION
DESCRIPTION + Adjust.
DESCRIPTION + Adjust
DESCRIPTION
+(-)$ Adjust.
_
Time Adjustment
n/a
11/27/2002
9/10/2003
7/31/2003
Location
Average
Good _ -5 000
Average
Good ; -3 000
:_Siteffiew
2.44 ac./Avera a
1.50 ac./Avera e ; +14 000
1.75 ac./Avera e ; +11 000
1.06 ac./Good +21 000
Utility
Average
Good ; -5 000
Average
Good -3 000
Accessibility
Fair
Average ; -5 000
Fair
Average -3 000
Topography
Fair
Fair
Fair
Fair
Desirability
Average
Good -5 000
Average
Good -3 000
Sales or Financing
n/a
None Noted
n/a
None Noted
Concessions
Net Ad'. otal
+
- 6 000
+
- ; 11 000
M+_[1-_$_9,000
Indicated Value
a,=. �',`r-
of Subject
'.:J
Net 12.0% 44000
Net 44.9.% 35500
Net `.30.0*%': 39000
Comments on Market Data: See attached addenda.
Comments and Conditions of Appraisal: The subject property does contain improvements, but for the purposes of this appraisal have been assigned no
contributory value due to the fact that the majority of the overall value of the real estate lies almost exclusively in the land itself.
uuu
Final Reconciliation: v Sales Com rison A roach as i eda er and seller actions in the market lace. No wei ht is
-
giventhe Cost A _ ' r tn8' roach because an im ro itd are considered to be of residual value.
1 ESTIaaaTE THE atla'VALU , IME0� SaeJECT PflOPEOy�J� OF �;•' '• 1 fll' 15t 2004 to be $ 40,000
n: REGISTERED ;� _ _ FIED o =
:
Joshua A. Smithv : •••. • Don L. Crame c s ® Did ❑ Did Not Physically Inspect Property
off
A ra ser s '+. S .` Review Appraiser iF li •ble o.
.-civri
(Y2KJ vvvvvauulo wv APPRAISALS, It ? )L44&j009%0`
Form LND — •TOTAL for Windows• appraisal softwW tryradarHdl1e, Inc. — 1-800-ALAMODE
LaD APPRAISAL REPORT
RKET DATA ANALYSIS
Ale No. 900340
ETEMI
SUBJECT PROPERTY
COMPARABLE NO.
4
COMPARABLE NO.
5
COMPARABLE NO. 6
Address West Ave. & South St.
Fayetteville
14409 McDaniel
Fayetteville
2 Jean Faye
Fayetteville
Proimity to Subject
Sales Price
n/a
10,500
16.000
Is
Price Sq. Ft.
n/a
CHR/Site Inspection
MLS #398185
0.44
MLS #390410
0.27
Data Source
Date of sale and
DESCRIPTION
DESCRIPTION +
Adiust.
DESCRIPTION +
Adjust.
DESCRIPTION
+ dust.
Time d' smient
rue
8/14/2003 ;
11/7/2003 ;
Location
Average
Average ;
Average ;
Sit iew
2.44 ac./Averse
0.55 ac./Good
+29,000
1.37 ac./Average ;
+16,000
Average
Average
Average
____Utility
Accessibility
Fair
Fair ;
Fair
Topography
Fair
Fair
Fair
Desirability
Average
Averse
Average
Sales or Financing
Concessions
n/a
None Note
n/a
Net Ad'. otal
+
29,000
+
16,000
fl + —
Indicated Value
of Subject
Comments:
Nit12Z6!2*%I $
39,500
Net 100.0.
32,000 Nt
APPRAISALS, INC. (501) 442-5804
Form LND.(AC) — 'TOTAL for Windowsappraisal software by a la mode, inc. —1-800-ALAMODE
Supplemental Addendum aFlieNo 900340
Borrower Client N/A
Property Address West Ave. & South St.
City Fayetteville County Washington State AR Zip Code 72701
Lender The City of Fayetteville
• Land : Market Data
A diligent effort was made in the search for comparable sales, however some of the sales are not as recent as desired, but
have been weighted accordingly . Comparables #1 & #2 required the least adjustment and were given the most weight. The
other comparables used were considered good indicators, but were added primarily for support purposes. All Sales are
considered to be indicative of the estimated subject value.
Form TADD —'TOTAL for Windows' appraisal software by a la mode, inc. — t-800-ALAMODE