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Home My WebLink About40-05 RESOLUTION• RESOLUTION NO.40-05 A RESOLUTION TO ACCEPT AN OFFER FROM STEPHEN L. DAVIS TO PURCHASE THE REMAINDER OF THE FORMER SHAKE'S PROPERTY AND BUILDING FOR $178,555.00 WHEREAS, Mr. Stephen L. Davis properly submitted a sealed bid in excess of the minimum amount authorized by the City Council for the sale of city property at 2050 West Sixth Street ($178,000.00); and WHEREAS, this bid of $178,555.00 was the only bid tendered for this property. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby accepts the bid of Stephen L. Davis in the amount of $178,555.00 for the land and former Shake's building located at 2050 West Sixth Street, Fayetteville, Alt Section 1: That the City Council of the City of Fayetteville, Arkansas hereby sells this property at 2050 West Sixth Street to Stephen L. Davis for $178,555.00 and authorizes Mayor Coody to execute a deed and any other necessary papers to effect a transfer of ownership of this property to Stephen L. Davis. PASSED and APPROVED this ls` day of March, 2005. ATTEST: By: ` „nQ�I l,lh ,. .,,1`�9WTR� 1�., SG. ^ �; •G\SY 0,F • Wp =U• ;▪ • FAYETTEVILLE; - By t• ..g h yVil' •Go• /0.4.0/4 SONDRA SMITH, City Clerk APPROVED: DAN COODY, Mayor • • ORIGINAL: OFFER AND ACCEPTANCE CONTRACT ' L• D a-v'i S offers to buy, subject to the terms and conditions set forth herein, the following described property: SEE ATTACHED EXHIBIT "A" FOR PROPERTY DESCRIPTION St l� 1 lTa.sZs 2. Purchase Price: Subject to the following conditions , • shall pay for the property at closing, the total and cash payment of $ 1 1 S , S S'S c• -o . Wim" L1.>-•-•;.)3. Contingent Earnest Money Deposit: ' • ^ ' herewith tenders a check for $ I/ o o e to the City of Fayetteville, as earnest money, which shall apply on the purchase price. This sale 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 by the City of Fayetteville. If title requirements are not fulfilled or the City of Fayetteville fail(s) to fulfill any obligations under this contract, the earnest money shall be promptly refunded to the seller. If the buyer fails to fulfill their 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 City of Fayetteville, become liquidated damages to the City of Fayetteville. 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 City of Fayetteville. City of Fayetteville shall furnish a policy of title insurance in the amount of the purchase price from a title insurance company as selected by the buyer. The buyer and City of Fayetteville shall share equally in the cost of the title insurance. City of Fayetteville agree(s) to allow the Buyer, if the buyer so desires, at the buyers expense, to survey the property. The City of Fayetteville agree(s) 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. Taxes and special assessments due on or before closing shall be paid by the City of Fayetteville. Insurance, general taxes, ad valorem taxes, special assessments and rental payments shall be prorated as of closing. PP,-, CID( %2570c V The closing date shall be within I c� (_)) days 'after approval of this offer by the City Council. If such date of closing falls on a weekend or holiday, it will be held the following working day. 9. Possession of the property shall be delivered to the buyer on the date of closing. 10. City of Fayetteville hereby grant(s) permission for the buyer or its employees or designates to enter the above described property and improvements for the purpose of inspection and/or surveying. 11. All fixtures, improvements and attached equipment are included in the purchase price. 12. Risk of loss or damage to the property by fire or other casualty occurring up to the time of closing is assumed by the City of Fayetteville. 13. City of Fayetteville shall disclose to the buyer any and all environmental hazards of which the City of Fayetteville has/have actual knowledge. Upon acceptance of all conditions and terms of this Offer and Acceptance, the buyer and the City of Fayetteville 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, the City of Fayetteville shall cure such, at their expense; or, in the alternative, at the buyers discretion, the buyer may cure such environmental hazard, and the City of Fayetteville shall indemnify the buyer for all costs associated with said cure. • • • OFFER AND ACCEPTANCE CONTRACT Page 2 of 4 14. This agreement shall be governed by the laws of the State of Arkansas. 15. This agreement, when executed by both the buyer and City of Fayetteville 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. 17. The buyer shall submit this fully executed Offer and Acceptance Contract to the City Council for their approval within ( ) days of acceptance by the City of Fayetteville: 18. NOTICE: THE BUYER ASSERTS AND CITY OF FAYETTEVILLE HEREBY ACKNOWLEDGES THAT THIS OFFER IS EXPRESSLY CONTINGENT UPON THE APPROVAL OF THIS SALE OFFER BY THE CITY COUNCIL OF FAYETTEVILLE AND THAT THE FAILURE OF THE COUNCIL TO SO APPROVE WILL MAKE ALL PORTIONS OF THIS OFFER NULL AND VOID, INCLUDING, BUT NOT LIMITED TO, THE RETURN TO THE BUYER OF THE $ EARNEST MONEY DEPOSIT. This contract expires if not accepted by the City of Fayetteville on or before the day of 2004. eki AGENT OR WITNESS: City of Fayetteville, Arkansas, A municipal c..oration Dan Coody, Mayor Sondra mith, City Clerk Date: Date: Date: Date: 3/01105 • • OFFER AND ACCEPTANCE CONTRACT Page 3 of 4 EXHIBIT "A" PROPERTY DESCRIPTION REFER TO APPRASIAL PERFORMED FOR THE CITY OF FAYETTEVILLE SIGNED FOR IDENTIFICATION: Dan oody, Mayor Sondra Smith, City Clerk 4 /Yl Date: Date: Date: .3' 2 / b 5 Date: ./3/0J THE IREAL ESTATE - CONSULTANTS 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 • REALTORS • APPRAISERS • CONSULTANTS • July 30, 2004 Ms. Jill Goddard The City of Fayetteville 113 W. Mountain Fayetteville, AR 72701 RE• Appraisal Services Dear Ms. Goddard: Former Shake's Frozen Custard Building 2050 W. 6th St. Fayetteville, AR 72701 118 N. East Ave. P.O. Box 726 Fayetteville, AR 72702 Phone (479) 442-0762 In compliance with your request, and for the purpose of estimating the current Market Value of the above captioned property, I hereby certify that I have personally inspected the property and made a survey of matters pertinent to the estimation of its value. The intended use of this appraisal is for sale evaluation purposes of the client. I further certify that I have no interest, present or contemplated, in the property under appraisement, & that the fee was not contingent upon the value estimate reported, nor based upon a percentage of the appraised value. The following narrative appraisal report contains the data gathered in the investigation, and shows the method of appraisal in detail. The report has been prepared in conformity with the Uniform Standards of Professional Appraisal Practice as promulgated by the Appraisal Foundation. This is considered a Complete Summary Appraisal Report. Based upon the inspection of the subject property and the investigation and analysis carried out in this report, it is the considered opinion of the appraiser that the Market Value of the property as of July 21, 2004 and subject to the assumptions and limiting conditions set forth within the body of this report, is as follows: ONE HUNDRED SEVENTY EIGHT THOUSAND DOLLARS ($178,000) Respectfully Submitted, Mark E. Risk, GAA State Certified General Appraiser #CG0202 htha- Leslie Manning State Certified General Appraiser #CG2445 • SUMMARY OF SALIENT FACTS & CONCLUSIONS Property Type: Commercial Restaurant Building Location: Effective Date of the Appraisal: 2050 W. 6th St. Fayetteville, AR 72701 The subject site was inspected on July 21, 2004. The effective date of the appraisal is the date of inspection — July 21, 2004. The opinions set forth in this report are stated as of July 29, 2004. Zoning: C-2 (Thoroughfare Commercial) Site: 136.82' x 128.73' x 6.16' x 54.53' x 30.28' x 17.25' x 57.87' x 17.07' - 12,197 Sq. Ft. or 0.28 Acres Improvements: 1,113SF Commercial Building Utilities: All municipal utilities available Highest and Best Use: Drive-Thru Fast Food Restaurant or Drive-Thru Commercial Facility Flood Data: FEMA Map #05143C0091 D, The subject is located in Flood Hazard Area Zone X Value Indications: Cost Approach $187,000 Market Data Approach $177,000 Income Approach $167,000 Final Estimate of Market Value: $178,000 Note: This appraisal report has been prepared for the exclusive benefit of The City of Fayetteville. It may not be used or relied upon by any other party. Any party who uses or relies upon any information in this report without the preparer's written permission, does so at their own risk. This report is considered a complete summary appraisal report. 1 4, BID PROPOSAL Proposed By: Stephen L. Davis (contact person) 756 N. Washington Ave. Fayetteville, AR 72701 Email: davishealth@aol.com Fax: 443-9500 Phone: 443-5850 Cell: 283-7530 Property: Former Shake's Building, 2050 W. Sixth Street, Fayetteville, AR Description of Proposed Use: -Retail store with food service - Limited inside and patio seating - One drive-through lane Offer Price: $178,555.00 Terms: As City Requires Authorized Signature Stephen L. Davis Attachment: Engineer's drawing of property and possible parking arrangement showing entrance to parking and drive-through at north side from Old Farmingron Road. LOCATION MAP otta • ea Sift web eel iiiiiiiiiiiiiiiii earas Este e I�n EL 1 tzsumo TM a it man 2 -- 71 11 • a� '9 - 6V44151. R�U' T . MAO FT 20.0 R- 20.00 PT L.60.76 T PL 1 Qy W a 0 0 0 O 1 • er— ,rr LEGAL DESCRIPTION N 6712'42. fr O.6 ISM FT NN CORNER CF E n. 8 ACRES • SNAKE'S . _.. .. ..� ° BLOCK 2 D •/ HEST. .14 ADDITION -STORY , 'CONCRETE - '. BLOCK 9u1L9�NG.. .. 2050 H SO, .Si.. I 40 0 40 SCALE: I" = 40' 5 SW --F-&7106-FE R - MOO rT L . 6717 FT - W4LiT R T 6.71 FT R - as FT L -AAT FT NE -NW All that certain tract or parcel of land being a part of the SE Y of the SW 1/4, and part of the NE ''4 of the NW I/4of Section 17, Township 16 North, Range 30 West, Washington County, Arkansas. And being more particularly described by metes and bounds as follows: Beginning at the SW Corner of the SE %. of the SW '/. of Section 17, Township 16 North, Range 30 West, Washington County, Arkansas. Said point being the NW Corner of Block 2 of Westwood Addition to the City of Fayetteville, Arkansas. THENCE - North 02° 56' 11" East 6.16' to the south right-of-way line of Old Farmington Road; THENCE - with said right-of-way through the following calls: THENCE -through a curve to the left with a radius of 225.00', a central angle of 25° 27' 53' , arc length of 54.53', a cord bearing of North 66° 59' 31" East for a distance of 54.40'; THENCE - through a curve to the right with a radius of 20.00', a central angle of 286° 28' 44", arc length of 30.28', a cord bearing of South 76° 34' 38" East for a distance of 27.47'; THENCE - South 33° 12' 12" East 17.23'; THENCE - through a curve to the right with a radius of 262.00', a central angle of 21° 52' 07", arc length of 57.87', a cord bearing of South 26° 52' 32" East for a distance of 57.75'; THENCE - through a curve to the right with a radius of 28.96', a central angle of 33° 46' 27", arc length of 17.07', a cord bearing of South 01° 38' 09" East for a distance of 16.83' to the north right-of-way of State Highway No. 62; THENCE - South 60° 30' 11" West 135.82' with said right-of-way to a set 5/8" 1.Pin; THENCE - North 02° 42' 11" West 134.89' to the POINT OF BEGINNING. The above described property having been surveyed by Bart L.Petray contains 0.28 acres of land more or less. • City Council Meeting of 3 Agenda Item Number 'a -DS CITY COUNCIL AGENDA MEMO _Vet -4 /% Lhv'5 To: Mayor and City Council From: Tim Conklin, Community Planning and Engineering Services Director Date: October 26, 2004 Subject: Approval of an offer and acceptance contract in the amount of $178,555 with Stephen L. Davis to purchase the former Shake's Building located at 2050 W. Sixth Street. RECOMMENDATION Staff recommends approval of a resolution accepting the offer and acceptance contract in the amount of $178,555 with Stephen L. Davis to purchase the former Shake's Building located at 2050 W. Sixth Street. BACKGROUND Parcel No. 765-12164-000 (Shake's Frozen Custard) was acquired in its entirety as part of the realignment and signalization of the Hollywood/Sang/6`h Street Intersection. Last June, the City Council passed Resolution No. 95-40 authorizing City staff to begin the process to sell this parcel and building. Last August, the City Council passed Resolution No. 126-04 setting the minimum bid price at $178,000 based on the higher appraised value from the two required appraisals. The sale of the property was advertised in the commercial real estate and legal sections of the Northwest Arkansas Times, "For Sale" signs were posted, notice was placed on the city's web site, and notice was sent out by e-mail approximately 30 days prior to the bid deadline of October 11, 2004. The City received one offer and acceptance bid for this property by Stephen L. Davis. BUDGET IMPACT Sale of the property will result in an additional $178,555 in revenue to the Street Fund. RESOLUTION NO. A RESOLUTION TO ACCEPT AN OFFER FROM STEPHEN L. DAVIS TO PURCHASE THE REMAINDER OF THE FORMER SHAKE'S PROPERTY AND BUILDING FOR $178,555.00 WHEREAS, Mr. Stephen L. Davis properly submitted a sealed bid in excess of the minimum amount authorized by the City Council for the sale of city property at 2050 West Sixth Street ($178,000.00); and WHEREAS, this bid of $178,555.00 was the only bid tendered for this property. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS* Section 1: That the City Council of the City of Fayetteville, Arkansas hereby accepts the bid of Stephen L. Davis in the amount of $178,555.00 for the land and former Shake's building located at 2050 West Sixth Street, Fayetteville, AR. Section 1: That the City Council of the City of Fayetteville, Arkansas hereby sells this property at 2050 West Sixth Street to Stephen L Davis for $178,555.00 and authorizes Mayor Coody to execute a deed and any other necessary papers to effect a transfer of ownership of this property to Stephen L. Davis. PASSED and APPROVED this 16th day of November, 2004. APPROVED: OQ �0 By: ATTEST: By: SONDRA SMITH, City Clerk DAN COODY, Mayor Feb 8, 2005 TO: Fayetteville City Council Members FROM: Stephen L. Davis (cell 283-7530) RE BID ACCEPTANCE — SHAKE'S PROPERTY Could you please move the Shake's bid acceptance from 2/15/05 to the next scheduled council meeting. Last Friday, 2/4/05, I received approval from Smoothie King's New Orleans headquarters to relocate to the 6th St location. I had previously provided them with as -built plans, demographics, photos, aerial views, etc. Their Design & Construction Dept is now working on plans and projections that should result in a cost estimate for interior and exterior improvements they will require. Unless these costs are much higher than I anticipate, we plan to move forward. My sincere thanks for your patience concerning this process. • . Page 1 of 1 Subj: Agenda Change Date: 111302004 3:56:12 PM Central Standard Tithe From: DavisHealth_ To: cssmittkeeci.fayetteville.ar.us ATTN: Sonya Smith: City Clerk Request for Change of Agenda Date from 12-07-04 to 1-04-05. (Bid on.Shakes's Property on 6th Street) Reason for Request: More time is needed to iron out approvals and obtain construction costs. (Now moving out of Dickson St location.) Need approval from Smoot King Franchises to relocate to 6th St location and cost of improvements required by the corporation. •--_ - - - -Still working on design work and construction estimates. -Finanaii9 institution has questions about value that an updated appraisat,vhh projected - improvements, should answer. - Thank you for your consideration. Stephen L. Davis • 283-7530.(S e) 711-769x' Tuesday, November30,2004 Aineiic t Ontme: DavisHealth OFFER AND ACCEPTANCE CONTRACT L. Da -v75 offers to buy, subject to the terms and conditions set forth herein, the following described property: SEE ATTACHED EXHIBIT "A" FOR PROPERTY DESCRIPTION S►t�. L t�arIs 2. Purchase Price: Subject to the following conditions et—>shall pay for the property at closing, the total and cash payment of $ 1 1 R r S S S. w . 5.1.E f.,... L 3. Contingent Earnest Money Deposit: f Cris" . on herewith tenders a check for $ 1 v Or to the City of Fayetteville, as earnest money, which shall apply on the purchase price. This sale 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 by the City of Fayetteville. If title requirements are not fulfilled or the City of Fayetteville fail(s) to fulfill any obligations under this contract, the eamest money shall be promptly refunded to the seller. If the buyer fails to fulfill their 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 City of Fayetteville, become liquidated damages to the City of Fayetteville. 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 City of Fayetteville. 5. City of Fayetteville shall furnish a policy of title insurance in the amount of the purchase price from a title insurance company as selected by the buyer. The buyer and City of Fayetteville shall share equally in the cost of the title insurance. 6. City of Fayetteville agree(s) to allow the Buyer, if the buyer so desires at the buyers expense, to survey the property. The City of Fayetteville agree(s) 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 City of Fayetteville. Insurance, general taxes, ad valorem taxes special and rental payments shall be prorated as of closing. �j ('k� • 8. The closing date shall be within ./B 0 ( d. fter approval of this offer by the City Council. If such date of closing falls on a weekend or holiday, it will be held the following working day. 9. Possession of the property shall be delivered to the buyer on the date of closing. 10. City of Fayetteville hereby grant(s) permission for the buyer or its employees or designates to enter the above described property and improvements for the purpose of inspection and/or surveying. 11. All fixtures improvements and attached equipment are included in the purchase price. 12. Risk of loss or damage to the property by fire or other casualty occurring up to the time of closing is assumed by the City of Fayetteville. 13. City of Fayetteville shall disclose to the buyer any and all •environmental hazards of which the City of Fayetteville has/have actual knowledge. Upon acceptance of all conditions and terms of this Offer and Acceptance, the buyer and the City of Fayetteville 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, the City of Fayetteville shall cure such, at their expense; or, in the alternative, at the buyers discretion, the buyer may cure such environmental hazard, and the City of Fayetteville shall indemnify the buyer for all costs associated with said cure. • -Bet---49064.0 are wC nc± Ccry MESSAGE FOR 3 c �` DATE ✓ ��j,6rye J I to €a /I ,,,, ,,eTIIMEQ �! OF PHONE FAX TELEPHONED PLEASE CALL CAME TO SEE YOU WILL CALL AGAIN WANTS TO SEE YOU RUSH RE NED YOUR CALL ATTENTION %Q 1, UnSPPECIALL �' �"/�,Y,, ME AG/ E Ii. Q��,l, ��(s Id1110Lk?tl Cod^!/ 4I 4'f .. 4i ., i4%-.•ss4el S� 17.7L SIGNED SC5805 i • • OFFER AND ACCEPTANCE CONTRACT Page 2 of 4 14. This agreement shall be governed by the laws of the State of Arkansas. 15. This agreement, when executed by both the buyer and City of Fayetteville 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 City of Fayetteville on or before the day of 2004. 17. The buyer shall submit this fully executed Offer and Acceptance Contract to the City Council for their approval within ( ) days of acceptance by the City of Fayetteville. 18. NOTICE: THE BUYER ASSERTS AND CITY OF FAYETTEVILLE HEREBY ACKNOWLEDGES THAT THIS OFFER IS EXPRESSLY CONTINGENT UPON THE APPROVAL OF THIS SALE OFFER BY THE CITY COUNCIL OF FAYETTEVILLE AND THAT THE FAILURE OF THE COUNCIL TO SO APPROVE WILL MAKE ALL PORTIONS OF THIS OFFER NULL AND VOID, INCLUDING, BUT NOT LIMITED TO, THE RETURN TO THE BUYER OF THE $ EARNEST MONEY DEPOSIT. AGENT OR WITNESS: City of Fayetteville, Arkansas, A municipal corporation Dan Coody, Mayor Sondra Smith, City Clerk Date: (c, — l Date: Date: Date: Date: • • • OFFER AND ACCEPTANCE CONTRACT Page 3 of 4 EXHIBIT "A" PROPERTY DESCRIPTION REFER TO APPRASIAL PERFORMED FOR THE CITY OF FAYETTEVILLE SIGNED FOR IDENTIFICATION: Dan Coody, Mayor Sondra Smith, City Clerk Date: Date: Date: Date: OFFER AND ACCEPTANCE CONTRACT Page4of4 ACKNOWLEDGMENT STATE OF ARKANSAS ss. COUNTY OF WASHINGTON BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared to me well known as the person(s) who executed the foregoing document, and who stated and acknowledged that he/she/they is/are of and is/are duly authorized to execute the foregoing instrument for and in the name and behalf of said and further stated and acknowledged that he/she/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 day of 2003. ,Notary Public MY COMMISSION EXPIRES: STATE OF ARKANSAS COUNTY OF WASHINGTON ACKNOWLEDGMENT SS. BE IT REMEMBERED, that on this date, before the undersigned, a duly commissioned and acting Notary Public within and for said County and State, personally appeared Dan Coody and Sondra Smith, to me well known as the persons who executed the foregoing document, and who stated and acknowledged that they are the Mayor and City Clerk of the City of Fayetteville, Arkansas, a municipal corporation, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said municipal corporation, and further stated and acknowledged that they had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. WITNESS my hand and seal on this day of MY COMMISSION EXPIRES: 2003. Notary Public 0 40 SCALE: I" = 40' 14 4S R . 57FT .b7 L . 6TA7 FT LJ a BLOOK 2 ... W EST..l^IOOD ADENT IoN -STORY ' 'CONCRETE rj 'BLOCK `8911_1).1N‘.. 2050 IN •M .et." `` 1 . '.0'K'2D R T.RA FT R . 21.K ►r L.A.tII FT c c LEGAL DESCRIPTION \a0 All that certain tract or parcel of land being a part of the SE'/ of the SW 1/4, and part of the NE'/ of the NW 1/4of Section 17, Township 16 North, Range 30 West, Washington County, Arkansas. And being more particularly described by metes and bounds as follows: Beginning at the SW Comer of the SE Y of the SW % of Section 17, Township 16 North, Range 30 West, Washington County, Arkansas. Said point being the NW Corner of Block 2 of Westwood Addition to the City of Fayetteville, Arkansas. THENCE - North 02° 56' 11" East 6.16' to the south right-of-way line of Old Farmington Road; THENCE - with said right-of-way through the following calls: THENCE -through a curve to the left with a radius of 225.00', a central angle of 25° 27' 53", arc length of 54.53', a cord bearing of North 66° 59' 31" East for a distance of 54.40'; THENCE - through a curve to the right with a radius of 20.00', a central angle of 286° 28' 44", arc length of 30.28', a cord bearing of South 76° 34' 38" East for a distance of 27.47'; THENCE - South 33° 12' 12" East 17.23'; THENCE - through a curve to the right with a radius of 262.00', a central angle of 21° 52' 07", arc length of 57.87', a cord bearing of South 26° 52' 32" East for a distance of 57.75'; THENCE - through a curve to the right with a radius of 28.96', a central angle of 33° 46' 27", arc length of 17.07', a cord bearing of South 01° 38' 09" East for a distance of 16.83' to the north right-of-way of State Highway No. 62; THENCE - South 600 30' 11" West 135.82' with said right-of-way to a set 5/8" 1.Pin; THENCE - North 02° 42' 11" West 134.89' to the POINT OF BEGINNING. The above described property having been surveyed by Bart L.Petray contains 0.28 acres of land more or less.