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HomeMy WebLinkAbout182-04 RESOLUTION• •
RESOLUTION NO. 182-04
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE
CITY OF FAYETTEVILLE AND REINDL PROPERTIES, INC. TO
EXCHANGE REAL PROPERTY TO ACCOMMODATE THE
CONSTRUCTION OF A PORTION OF THE CENTER -PRAIRIE
MULTI -USF. TRAIL.
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 Agreement between the City of Fayetteville and Reindl
Properties, Inc. to exchange real property to accommodate the construction of a
portion of the Center -Prairie Multi -Use Trail. A copy of the Agreement marked
Exhibit "A" is attached hereto and made a part hereof.
Section 2. That the City Council of the City of Fayetteville, Arkansas
hereby authorizes the Mayor and City Clerk to execute said Agreement with
Reindl Properties, Inc.
PASSED AND APPROVED this 16th day of November 2004.
ATTEST
By:
v•b1Y OF •.'.p); AI I ROVED:
• .U• •-�
;FAYETTEVILLE'
0.75: AI{ANSP: N
SONDRA SMITH City Clerk
DAN COODY, M
• •
AGREEMENT
This Agreement executed this 16th day of ALM „ t btr 2004, between the City of
Fayetteville, Arkansas, a municipal corporation, and Reindl Properties, Inc., witnesseth:
IN CONSIDERATION of mutual promises of the parties contained herein and other good and
valuable consideration, the parties agree as follows:
1. Reindl Properties, Inc. shall:
a. donate the property more particularly described in Exhibit A, attached hereto and
made a part hereof, (approximately 5,203 sq. ft.) to the City of Fayetteville for
construction of a multi -use trail;
b. at its expense, have all power poles, overhead electrical lines, transformers and
ground mounted equipment removed from Area A (as depicted on the map marked
Exhibit B, attached hereto and made a part hereof);
c. at its expense, remove all damaged paving from Area B (as depicted on the map
marked Exhibit B), and install parking, cross walks and drive lanes to City of
Fayetteville standards within 18 months of the execution of this agreement;
d. install and maintain approximately 4,423 sq ft. of landscaping in Arca B;
e. remove the one story metal building on the western portion of the property within 18
months of the execution of this agreement.
2. The City of Fayetteville shall:
a transfer title to the property more particularly described in Exhibit A
(approximately 21,402 sq. ft.) to Reindl Properties. Inc.;
b. construct a multi -use trail, built to City standards, within 18 months of the
execution of this agreement.
3. Non -assignability. Neither party may assign any of its rights or obligations under this
Agreement, without the express written consent of the other. Nor shall this Agreement be
construed to bestow any rights or benefits upon anyone other than Reindl Properties. Inc.,
and the City of Faycttcvillc.
4. Exclusivity. The parties agree and understand that this Agreement is exclusive of any and all
other Agreements, and that it in no way alters, amends or abridges any rights, obligations or
duties of the parties contained in such Agreements.
5. Non -waiver. It is agreed that the failure of any party to invoke any of the available remedies
under this Agreement or under law or equity in the event of one or more breaches or defaults
by any party under the Agreement shall not he construed as a waiver of such provisions and
conditions and shall not prevent the parties from invoking such remedies in the event of any
subsequent breach or default.
6. Governing Law. This Agreement shall be interpreted according to and enforced under the
laws of the State of Arkansas.
7. Severabilitv Each paragraph of this Agreement is severable from all other paragraphs. In
the event any court of competent jurisdiction determines that any paragraph or subparagraph
is invalid or unenforceable for any reason, all remaining paragraphs and subparagraphs shall
remain in full force and effect.
8. Modification. This Agreement constitutes the entire understanding of the parties, and no
modification or variation of the terms of this Agreement shall be valid unless made in writing
and signed by the duly authorized agents of the City of Fayetteville, and Reindl Properties.
Inc.
9. Warrant of Authority. Each of the undersigned warrants that he or she has the full right,
power and authority to execute this contract on behalf of the party indicated for the purposes
herein contained.
IN WITNESS WHEREOF, the City of Fayetteville
this Agreement on or as of the date first written above.
..r....... .
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:FAYETTEVILLE:
:vs•9RKANSP�W
By: 1L 7/YI C�I.�J
ATTEST:
SON RA SMITH, City Clerk
2
CIT
and Reindl Properties. Inc. have executed
Y OF FAYETTEVILLE, ARKANSAS
By:
AN COODY, Mayor
REINDL PROPERTIES. INC.
By:
ii)141- 14,V
Name & Title
Nov 05 04 l2:1ep
Mand, Bunch
•
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U
/
LEGAL TO BE FAX
479-444-„ 93 p.3
•
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• •
Part of Parcel No 765-01743-000
QUITCLAIM DEED
BE IT KNOWN BY THESE PRESENTS:
THAT Reindl Properties, Inc., an Arkansas corporation, hereinafter
called GRANTOR, for and in consideration of the deed of the land from the City of
Fayetteville to Reindl Properties, Inc. and the other promises within the November
16, 2004 agreement, the receipt of which is hereby acknowledged, do hereby grant,
sell and quitclaim unto the City of Fayetteville, Arkansas, a municipal
corporation, hereinafter called GRANTEE, and unto Grantee's successors and
assigns, all of our right, title and interest, in and to the following described land
situated in the County of Washington, State of Arkansas, to -wit:
A part of the Southeast Quarter (SE1/4) of the Northwest Quarter (NW 1/4) of Section Sixteen (16), Township
Sixteen (16) North, Range Thirty (30) West, Washington County, Arkansas, and a part of Block Eight (8) in the
Original Town (now City) of Fayetteville, Arkansas, as designated upon the Original Plat of said Town on file in
the Office of the Circuit Clerk and Ex -Officio Recorder of Washington County, Arkansas and also a part of
said Block Eight (8) lying 8.5 feet wide on each side of the Burlington Northern and Santa Fe Railway
Company's (formerly O. & C.C.) Main Track, altogether being more particularly described as follows:
commencing at the Northeast comer of said Block Eight (8); thence N89°59'13"W along the North line of said
Block Eight (8) 83.92 feet to the True Point of Beginning, said point being 8.5 feet East and perpendicular to
the centertine of the old O. 8 C.C. Main Track of the St. Louis -San Francisco Railway Company, thence
S29°26'16"W feet parallel with the centerline of said railroad track 240.92 feet to a set %" iron rebar on a 758
fool radius curve which is concave to the East; thence Southwesterly, parallel with the centerline of said
railroad track and along said curve 128.19 feet to a set Y2" iron rebar on the North right-of-way of Meadow
Street, the chord for which being S22°22'23"W 128.04 feet; thence S89°49'06"W along the north right-of-way
of Meadow Street 12.59 feet to a point which is 3.5 feet West of and concentric with the centerline of said
railroad track, said point being on a 770 foot radius curve which is concave to the East; thence leaving the
North right-of-way of Meadow Street Northeasterly, parallel with the centerline of said railroad track and along
said curve 120.01 feet, the chord for which being N21 °42'30"E 119.89 feet to a set ''/1" iron rebar; thence
N63°49'35"W 5.00 feet to a chiseled 'X' which is 8.5 feet West of and concentric with the centerline of said
railroad track, said point being on a 775 foot radius curve which is concave to the East; thence Northeasterly.
parallel with the centerline of said railroad track and along said curve 14.13 feet to a chiseled 'X', the chord for
which being N26°41'45"E 14.13 feet; thence N29°26'16"E along a line which is parallel with the centerline of
said railroad track 114.75 feet to a set W iron rebar; thence S60°49'59"E 2.02 feet to a set %1" iron rebar'
thence N29°46'16"E 95.27 feet to a set %t" iron rebar, said point being on a 16.5 foot radius curve which is
concave to the West; thence along said curve 30.92 feet, the chord for which being N39°54'04'E 26.59 feet;
thence S89°59'13"E 11.02 feet to the Point of Beginning, containing 0.12 acres (5203.0 square feet), 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.
WITNESS the execution hereof on this (3- day of 1,4JUAV`7 2005.
ATTEST: 1:;(1
Il i
I
d , ent
By:
REINDL PROPERTIES, INC.
Brian Reindl, President
(SEAL)
• •
QUIT CLAIM DEED
Reindl Properties, Inc.
Paget oft
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 Brian Reindl and Missy Reindl, to me well known as the persons who
executed the foregoing document, and who stated and acknowledged that they are the President and Vice -President,
respectively, of Reindl Properties, Inc., an Arkansas corporation, and are duly authorized in their respective capacities to
execute the foregoing instrument for and in the name and behalf of said 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. 11 ma�yy.{{,�
WITNESS my hand and seal on this (J"' day of JariuQYki
MY COMMISSION EXPIRES.
,2005.
JENNIFER C. HARDIN
Washington Cour
ty
My Commission Expires
April 16, 200g
fPubtic
Nov 05 04 12:18p
COR.
10(
Mandy Bunch
•
479-444-7793
•
p.2
SURVEY DESCRIPTION: PROPOSED SPLIT
A PART OF THE SOUTHEAST QUARTER (SEI/4) OF THE NORTHWEST
QUARTER (NV/1/4) OF SECTION SIXTEEN (16), TOWNSHIP SIXTEEN (16)
NORTH, RANGE THIRTY (30) WEST, WASHINGTON COUNTY, ARKANSAS,
AND A PART OF BLOCK EIGHT (8) IN THE ORIGINAL TOWN (NOW CITY) OF
FAYETTEVI ARKANSAS, AS DESIGNATED UPON THE ORIGINAL PLAT
OF SAID TOW ON FILE 111 THE OFFICE OF THE CIRCUIT CLERK AND EX -
OFFICIO RECORDER OF WASHINGTON COUNTY, ARKANSAS, AND ALSO A
PART OF SAID BLOCK EIGHT (8) LYING 8.5 FEET WIDE ON EACH SIDE OF
THE BURLINGTON NORTHERN AND SANTA FE RAILWAY COMPANY'S
(FORMERLY O. & C.C.) MAIN TRACK, ALTOGETHER BEING MORE
PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE
NORTHEAST CORNER OF SAID BLOCK EIGHT (8); THENCE N89°59' 13"W
ALONG THE NORTH LINE OF SAID BLOCK EIGHT (8) 83.92 FEET TO THE
TRUE POINT OF BEGINNING, SAID POINT BEING 8.5 Ptah 1 EAST AND
PERPENDICULAR TO THE CENTERLINE OF THE OLD O. & C.C. MAIN TRACK
OF THE ST. LOUIS -SAN FRANCISCO RAILWAY COMPANY; THENCE
S29°26'16"W FEET PARALLEL WITH THE CENTERLINE OF SAID RAILROAD
TRACK 240.92 FEET TO A SET IS" IRON REBAR ON A 758 FOOT RADIUS
CURVE WHICH IS CONCAVE TO THE EAST; THENCE SOUTHWESTERLY,
PARALLEL WITH THE CENTERLINE OF SAID RAILROAD TRACK AND ALONG
SAID CURVE 128.19 FEET TO A SET S4" IRON REBAR ON THE NORTH RIGHT-
OF-WAY OF MEADOW STREET, THE CHORD FOR WHICH BEING S22°22'23"W
128.04 ?ELI; THENCE S89°49'06"W ALONG THE NORTH RIGHT-OF-WAY OF
MEADOW STREET I2.59 FEET TO A POINT WHICH IS 3.5 FEET WEST OF AND
CONCENTRIC WITH THE C ENTERLWE OF SAID RAILROAD TRACK, SAID
POINT BEING ON A 770 FOOT RADIUS CURVE WHICH IS CONCAVE TO THE
EAST; THENCE LEAVING THE NORTH RIGHT-0FWAY OF MEADOW STREET
NORTHEASTERLY PARALLEL r r E WITH THE ALINE OF SAID RAILROAD
TRACK AND ALONG SAID CURVE 120.01 FEET, THE CHORD FOR WHICH
BEING N21 °42'30't 119.89 FEET TO A SET 34" IRON REBAR; THENCE
N63°49'35"W 5.00 FEET TO A CHISELED 'X' WHICH IS 8 5 FEET WEST OF AND
CONCENTRIC WITH THE CENTERLINE OF SAID RAILROAD TRACK, SAID
POINT BEING ON A 775 FOOT RADIUS CURVE WHICH IS CONCAVE TO THE
EAST; THENCE NORTHEASTERLY, PARALLEL WITH THE (ENTF-RLINE OF
SAID RAILROAD TRACX AND ALONG SAID CURVE 14.13 FEET TO A
CHISELED 'X', THE C FIORD FOR WHICH BEING N26°41'45"E 14.13 FEET;
THENCE N29°26' 16"E ALONG A LINE WHICH IS PARALLEL WITH THE
CENTERLINE OF SAID RAIIROAD TRACK 114.75 FEET TO A SET 54" IRON
REBAR; THENCE S60°49'59'E 2:02 FEET TOA SET S4" IRON REBAR; THENCE
N29°46'16'E 95.27 FEET TO A SET S4" IRON REBAR, SAID POINT BEING ON A
16.5 FOOT RADIUS CURVE WHICH IS CONCAVE ID THE WEST; THENCE
ALONG SAID CURVE 30.92 FEET, THE CHORD FOR WHICH BEING N39°54'04'E
26 59 FEET TO THE POINT OF BEGINNING, CONTAINING 0.12 ACRES (5203.0
SQUARE FEET), MORE OR LESS.
r °' FDA- w 'aft_ Tom'
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NOV-05-2004 FRI 02:31 P11 ALAN REID AND ASSC
•
15014440964
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P. 02
$URVEYDEVCRIP77ON
A PART OF BLOCK NUMBERED EIGHT (8), A PART OF BLOCK NUMBERED SEVEN (7), A PART OF
THE RIGHT -OF -WAY OF SPRING STREET, THE VACATED PORTION OF SPRING STREET AS PER
CITY ORDINANCE #1513, RECORDED IN DEED BOOK 689 AT PAGE 242, AND A PART OF THE
VACATED PORTION OF GREGO AVENUE AS PER CITY ORDINANCE 11070, RECORDED IN DEED
BOOK 465 AT PAGE 275, ALL IN THE ORIGINAL TOWN (NOW CITY) OF FAYETTEVILLE,
ARKANSAS, AS DESIGNATED UPON THE ORIGINAL PLAT OF SAID TOWN ON FILE IN THE OFFICE
OF THE CIRCUIT CLERK AND EX -OFFICIO RECORDER OF WASHINGTON COUNTY, ARKANSAS,
AND ALTOGETHER BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT
THE NORTHEAST CORNER OF SAID BLOCK EIGHT (8); THENCE N89°59' 13"W 83.92 FEET ALONG
THE NORTH UNE OF SAID BLOCK EIGHT (8) TO AN EXISTING IRON REBAR FOR THE TRUE POINT
OF BEGINNING. THENCE N89°39' 13' 1V 62.10 FEET TO AN EXISTING CHISELED "X" IN A CONCRETE
SIDEWALK- THENCE SO0°46' 15"E 6.03 FEET TO A POINT WHICH LANDS INSIDE AN EXISTING
BUILDING; THENCE N89°58'40"W 184.51 FEET TO AN EXISTING IRON REBAR; THENCE
NO0°46' 15 "W 28.00 FEET TO AN EXISTING IRON REBAR; THENCE N89°59' 13"W 17.00 FEET TO AN
EXISTING IRON REBAR; THENCE S0O°46' 15"E 24.88 FEET TO AN EXISTING IRON REBAR; THENCE
N89°59' 13"W 17.00 FEET TO AN EXISTING IRON REBAR ON THE EAST RIGHT-OF-WAY UNE OF
THE ARKANSAS & MISSOURI RAILROAD; THENCE LEAVING SAID RIGHT-OF-WAY LINE
N32°25'02"E 29.94 FEET; THENCE N25°05'28"E 5525 FEET; THENCE N65°53'54"E 49.99 FET; THENCE
N82°43'49"E 25 43 FEET; THENCE N89°55'57"E 60.65 FEET; THENCE S73°31'53"E 13.42 FEET; THENCE
S30°51'32"E 37.15 FET; THENCE S89°57'40"E 77.68 FEET; THENCE S00°00'47"W 60.45 FEET TO THE
POINT OF BEGINNING, CONTAINING 0.49 ACRES (21,402.4 SQUARE FEET), MORE OR LESS.
NAME OF FILE:
CROSS REFERENCE:
Item #
Date
•
Resolution No. 182-04
w/agreement & quit claim deed
D
•
NOTES:
1
10.18.04
memo to mayor & City Council
2
draft resolution
3
draft agreement
4
memo to Gary Dumas
5
proximity map
6
site diagram
& multi -use trail
7
letter and photos from
Rob Sharp
8
copy of Res. 5-90
g
Staff Review Form
10
draft agreement
11
copy of map & survey description
12
copy of site diagram & multi -use trail
13
copy of proposed trail corridor
14
copy of proximity map
15
11.23.04
memo to Steve Hatfield
16
Staff Review Form
17
01.06.04
memo to mayor
18
copy of warranty deed
19
copy of site diagram, parking & multi
-use trail
20
copy of terms & conditions
21
NOTES:
FAY g I'1'EVILLE
PARKS S RCCRC*TION
•
MEMORANDUM
•
2�5
('/t ./ay
/8t
/fzrni1/ P8rtas/.
Ce*i/tr- ffaInt/
Date:
To: Mayor Dan Comfy and City Council Members
Thru Gary Dumas, Director of Operations
Connie Edmonston, Parks and Recreation Director
10/18/04
From:
Reference:
Subject:
Steve Hatfield, Park Landscape Architect, Trails & Greenways Coordinator
Center Prairie Trail Expansion
Trail Corridor Extension
Recommendation:
City administration and Parks and Recreation Staff recommend entering into an agreement with Brian Reindl to secure the
trail corridor across his property. This corridor will provide a vital connection to Dickson Street, Fayetteville's
entertainment district, and the University of Arkansas. The agreement recommends the acquisition be accomplished
through an exchange of properties that is of benefit to the public. The ordinance used by the city in disposing of property
is not applicable under this agreement, given that no sale of land is occurring.
Background:
The Center Prairie Trail is a multi -use trail project that is located near downtown Fayetteville. One segment is under
construction and travels from Prairie Street to Center Street. Another segment is complete from Sixth Street to Prairie.
Street. This project has been discussed for years and the property from Prairie Street to Center Street was purchased in
2001. The identified alignment includes a connection all the way from Dickson Street to the North and to Sixth Street on the
South. This project will include seating areas and lighting compatible and complimentary to the fixtures that were installed
on Dickson Street.
In order to make the connection to Dickson Street, land for two more segments must be secured. One segment runs from the
North side of Center Street to Meadow Street. The second and final segment runs from Meadow Street to the Walton Art
Center Parking lot. The two property owners potentially affected by the ideal trail alignment are working with the City to
ensure the best possible trail. The trail corridors, both existing and proposed, are shown on the attached map. Funding for
the completion of this project will come from funds designated for Trial Development.
Current Status:
Construction of the Prairie to Center section is approximately 75% complete. The property from Center Street to Meadow
Street is currently going through the planning process for a mixed use development. The development includes a public
trail, located ideally to tie into the segment currently under construction. The final segment to the North can be secured with
the approval of the attached proposal from the property owner, Brian Reindl. The property recommended is shown on
Attachment A. In order to secure this crucially important parcel, City Staff and Mr. Reindl have carefully worked through
an agreement that we believe is of benefit to both parties.
1
City of Fayetteville
Parks and Recreation Division
113 W. Mountain Street, Fayetteville, Arkansas 72701
Telephone: 501-718-7688 E-mail: shatfield@ci.fayetteville.ar.us
di
• •
The terms and conditions in the proposed agreement between the parties are as follows:
Reindl Properties
• Donate all properties in area A (approximately 5,202 sq. ft.) to the City of Fayetteville for construction of a multi-
use trail.
• Reindl Properties will have all power poles, overhead electrical lines, transformers and ground mounted equipment
removed from Arca A at their expense.
• Reindl Properties will remove all damaged paving from Area 13 and install parking, cross walks and drivelanes to
City of Fayetteville standards within 18 months at their expense.
• Reindl Properties will install and maintain approximately 4,423 sq ft. of landscaping in Arca B
• Reindl Properties will remove the one story metal building on the west portion of the property within 18 months.
The City of Fayetteville
• The City will transfer title to all property in Area B (approximately 21,938 sq.ft.) to Reindl Properties
• The City will construct a multi -use trail, built to City standards, within 18 months.
City staff has also visited with representatives from the Walton Art Center and has received assurances that they see no
problem with the proposed trail corridor that is adjacent to the Naudine Baum Center.
Budget Impact
As stated in the memo, we have sufficient funds in our capital budget for construction of this trail.
Attachments:
2
City of Fayetteville
Parks and Recreation Division
113 W. Mountain Street, Faycncvillc, Arkansas 72701
Telephone: 501-718-7688 E-mail: shatfield@ci.fayettevillc.ar.us
• •
RESOLUTION NO.
A RESOLUTION APPROVING AN AGREEMENT BETWEEN THE
CITY OF FAYETTEVILLE AND REINDL PROPERTIES, INC. TO
EXCHANGE REAL PROPERTY TO ACCOMMODATE THE
CONSTRUCTION OF A PORTION OF THE CENTER -PRAIRIE
MULTI -USE TRAIL.
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 Agreement between the City of Fayetteville and Reindl
Properties, Inc. to exchange real property to accommodate the construction of a
portion of the Center -Prairie Multi -Use Trail. A copy of the Agreement marked
Exhibit "A" is attached hereto and made a part hereof.
Section 2. That the City Council of the City of Fayetteville, Arkans9s
hereby authorizes the Mayor and City Clerk to execute said Agreeme ifh
Reindl Properties, Inc. /
PASSED AND APPROVED this 16th day of NAve er 2 o
P
ATTR
By:
SONDRA S�VII�ity Cylt�c
1
APPROVELU:
DAN. a, ODY, Mayor
• •
AGREEMENT
This Agreement executed this day of 2004, between the City of
Fayetteville, Arkansas, a municipal corporation, and Reindl Properties, Inc., witnesseth:
IN CONSIDERATION of mutual promises of the parties contained herein and other good and
valuable consideration, the parties agree as follows:
1. Reindl Properties, Inc. shall:
a. donate the property more particularly described in Exhibit A, attached hereto and
made a part hereof, (approximately 5,202 sq. ft.) to the City of Fayetteville for
construction of a multi -use trail;
b. at its expense, have all power poles, overhead electrical lines, transformers and
ground mounted equipment removed from Area A (as depicted on the map marked
Exhibit B, attached hereto and made a part hereof);
c. at its expense, remove all damaged paving from Area B (as depicted on the map
marked Exhibit B), and install parking, cross walks and drive lanes to City of
Fayetteville standards within 18 months of the execution of this agreement;
d. install and maintain approximately 4,423 sq ft. of landscaping in Area B;
e. remove the one story metal building on the western portion of the property within 18
months of the execution of this agreement.
2. The City of Fayetteville shall:
a transfer title to the property more particularly described in Exhibit A
(approximately 21,938 sq. ft.) to Reindl Properties. Inc.;
b. construct a multi -use trail, built to City standards, within 18 months of the
execution of this agreement.
3. Non -assignability. Neither party may assign any of its rights or obligations under this
Agreement, without the express written consent of the other. Nor shall this Agreement be
construed to bestow any rights or benefits upon anyone other than Reindl Properties. Inc.,
and the City of Fayetteville.
4. Exclusivity. The parties agree and understand that this Agreement is exclusive of any and all
other Agreements, and that it in no way alters, amends or abridges any rights, obligations or
duties of the parties contained in such Agreements.
5. Non -waiver. It is agreed that the failure of any party to invoke any of the available remedies
under this Agreement or under law or equity in the event of one or more breaches or defaults
• •
by any party under the Agreement shall not be construed as a waiver of such provisions and
conditions and shall not prevent the parties from invoking such remedies in thc event of any
subsequent breach or default.
6. Governing Law. This Agreement shall be interpreted according to and enforced under the
laws of the State of Arkansas.
7. Severability. Each paragraph of this Agreement is severable from all other paragraphs. In
thc event any court of competent jurisdiction determines that any paragraph or subparagraph
is invalid or unenforceable for any reason, all remaining paragraphs and subparagraphs shall
remain in full force and effect.
8. Modification. This Agreement constitutes the entire understanding of the parties, and no
modification or variation of the terms of this Agreement shall be valid unless made in writing
and signed by the duly authorized agents of the City of' Fayetteville, and Reindl Properties.
Inc.
9. Warrant of Authority. Each of the undersigned warrants that he or she has the full right,
power and authority to execute this contract on behalf of the party indicated for the purposes
herein contained.
IN WITNESS WHEREOF, the City of Fayetteville and Reindl Properties. Inc. have executed
this Agreement on or as of the date first written above.
ATTEST:
By:
SONDRA SMITH, City Clerk
2
CITY OF FAYETTEVILLE, ARKANSAS
By:
DAgOaDY, Mayor
REINDL PROPE TIES. INC.
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By: O`_
Name & Title
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Encourage Quality Redevelopment in the Downtown Area
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Decrepit Budding to be Removed within 18 months
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