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HomeMy WebLinkAbout142-13 RESOLUTIONRESOLUTION NO. 142-13 A RESOLUTION APPROVING NEGOTIATION AND PURCHASE OF 1.3 ACRES OF PROPERTY FOR CONSTRUCTION OF TOWN BRANCH TRAIL AND THE EXPANSION OF GREATHOUSE PARK FROM LEVI STORAGE CENTER, LLC IN AN AMOUNT NOT TO EXCEED $41,862.00 UPON CONDITION THAT EXISTING LIENS ON THE REAL ESTATE ARE RELEASED 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 negotiation and purchase of 1.3 acres of property for construction of Town Branch Trail and the expansion of Greathouse Park from Levi Storage Center, LLC in an amount not to exceed $41,862.00, upon condition that existing liens on the real estate are released. PASSED and APPROVED this 18'h day of June, 2013. APPROVED: ATTEST: By: 4'-�; - SONDRA E. SMITH, City Clerk/Treasurer �����nr r r n►,�� O`��FRK•/ TRE'���i�i •G\j Y O'c ••G�': FAYETTEVILLE;�_ i iOri 0,�`��. City of Fayetteville Staff Review Form Matt Mihalevich Submitted By City Council Agenda Items and Contracts, Leases or Agreements June 18th, 2013 City Council Meeting Date Agenda Items Only Engineering Development Services Division Department Action Kequirea: Approval of a purchase of approximately 1.3 acres of property from Levi Storage Center, LLC in the amount of $41,862.00 for the construction of the Town Branch Trail and expansion of Greathouse Park. $ 41,862.00 Cost of this request 4470.9470.5810.00 Account Number 02016 / 1102 Project Number Budgeted Item �X $ 801,000.00 Category / Project Budget $ 31,974.84 Funds Used to Date $ 769,025.16 Remaining Balance Budget Adjustment Attached � zww/-J art! � • Town Branch Trail (Greathouse Prk to 71 B) Program Category / Project Name Trail Improvements Program / Project Category Name Sales Tax Capital Improvements Fund Name 0.W, J-> Previous Ordinance or Resolution # Date � 2 Original Contract Date: Original Contract Number: Date °-EkA ck.. yl�� 6 ~ 3- zot Finance and Internal Services Director Date Date Date Received in City ' ^ ' .1 - % 1 - Clerk's Office _ M Received in E.3�i Mayor's Office Comm ts: l.4 t 5 eW1AX►hJ0t Pn '50o.0W. a 0 Awj,,�y, vbr of %iYw'hIp - c $)Vjap�pk Meet y 15 /Ytlr�t�tA'. Revised January 15, 2009 Zayle MCI le ARKANSAS CITY COUNCIL AGENDA MEMO To: Mayor and City Council Thru: Don Marr, Chief of Staff Jeremy Pate, Development Services DirectoA Chris Brown, City Engineer From: Matt Mihalevich, Trails Coordinator Date: May 30th, 2013 THE CITY OF FAYETTEVILLE, ARKANSAS DEPARTMENT CORRESPONDENCE Subject: Levi Storage Center, LLC property purchase for Town Branch Trail PROPOSAL: Approval of a purchase of approximately 1.3 acres of property from Levi Storage Center, LLC in the amount of $41,862.00 for the construction of the Town Branch Trail and expansion of Greathouse Park. RECOMMENDATION: Town Branch Trail is identified on the Fayetteville Alternative Transportation and Trails Master plan as the primary east - west trail serving the businesses and neighborhoods south of 15th street. The complete trail will be 2.8 miles long connecting to existing trail at Razorback Road and extending east through Greathouse Park and the University of Arkansas Research and Technology Park with a connection to Walker Park and St. Paul Trail at City Lake Road. This project will provide a safe active transportation route for the numerous residents living in the area as well as the University of Arkansas Research and Technology Park. (See attached map) Town Branch Trail will become part of the 36 mile Razorback Regional Greenway. A %2 mile section of Town Branch Trail project from South School Avenue to Greathouse Park is in the final steps to proceed with bidding and construction. Staff has been working to finalize the property acquisition and the Levi Storage Center, LLC is the only remaining property to acquire. Raymond Merrill, owner of Levi Storage Center, LLC has agreed to sell approximately 1.3 acres of the northern extent of his property for the trail (see detailed map). This property abuts the current Greathouse Park property line so the park property will be expanded with this purchase. BUDGET IMPACT: Funding for this phase of the Town Branch Trail is provided at 80% through a Transportation Enhancement grant in the amount of $270,000 and recently a Transportation Alternatives Program grant of $352,647. The cost for the property acquisition will be funded through the Trail Development Capital Improvement Program. RESOLUTION NO. A RESOLUTION APPROVING NEGOTIATION AND PURCHASE OF 1.3 ACRES OF PROPERTY FOR CONSTRUCTION OF TOWN BRANCH TRAIL AND THE EXPANSION OF GREATHOUSE PARK FROM LEVI STORAGE CENTER, LLC IN AN AMOUNT NOT TO EXCEED $41,862.00 UPON CONDITION THAT EXISTING LIENS ON THE REAL ESTATE ARE RELEASED 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 negotiation and purchase of 1.3 acres of property for construction of Town Branch Trail and the expansion of Greathouse Park from Levi Storage Center, LLC in an amount not to exceed $41,862.00, upon condition that existing liens on the real estate are released. PASSED and APPROVED this 18t" day of June, 2013. LIONELD JORDAN, Mayor ATTEST: SONDRA E. SMITH, City Clerk/Treasurer Part of Parcel No. 765-09650-000 WARRANTY DEED BE IT KNOWN BY THESE PRESENTS: THAT Levi Storage Center, LLC, an Arkansas limited liability company, 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: Lots One (1) through Four (4), inclusive in Block 7 and Lot One (1) in Block Eight (8) in the Parksdale Addition to the City of Fayetteville, Arkansas, as per the plat on record in the office of the Circuit Clerk of Washington County, Arkansas. Being more particularly described as follows: Beginning at the Southeast corner of said Lot One (1), in Block 7; Thence North 87°05'08" West a distance of 86.41 feet; Thence North 04°39'40" East a distance of 135.52 feet; Thence North 21 °26'27" East a distance of 139.64 feet; Thence North 51 °54'46" East a distance of 50.45 feet; Thence North 51 °54'46" East a distance of 25.97 feet; Thence North 88'15'30" East a distance of 55.95 feet; Thence South 12°32'43" West a distance of 98.00 feet; Thence South 40°59'55" East a distance of 61.63 feet; Thence North 53°05'30" East a distance of 70.49 feet; Thence South 03'11'40" West a distance of 222.70 feet; Thence North 87°05'08" West a distance of 154.92 feet; Thence South 02°56'43" West a distance of 3.97 feet to the point of beginning and having an area of 58,503 square feet, more or less. Subject to easements, rights -of -ways, vacations and protective covenants of record, if any. TO HAVE AND TO HOLD the said lands and appurtenances hereunto belonging unto the said Grantee and Grantee's successors and assigns, forever. And the said Grantors, hereby covenant that they are lawfully seized of said lands and premises; that the same is unencumbered, and that the Grantors will forever warrant and defend the title to the said lands against all legal claims whatever. WITNESS the execution hereof on this By: ATTEST [Please print or type Name and Title] day of 2013. Levi Storage Center, LLC, an Arkansas limited liability company [Please print or type Name and Title] 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 and , to me well known as the persons who executed the foregoing document, and who stated and acknowledged that they are the and , respectively, of Levi Storage Center, LLC, an Arkansas limited liability company, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said company, 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 2013. MY COMMISSION EXPIRES: Notary Public 5 . �� 6 N 5,30„ CITY k D 765-15 35-0 0LLE �1 O 60 O 120 GREATHOUSE PARK khN k� o hO 5 0 FOUND 1/2" REBAR 58,503 SQUA E FEET RLS 849 1.3 Acres `" Levi Property LLC N Instrument No. 2007-409 0 6 o Instrument No. 2008-275 1 765-09650-000 NW1/4-SW1/4 SEC 21 T-15-N, R-30-W O University of Arkansas Board of Trusless 765-15035-000 C ehP c FOUND 5/8' REBAR 2 O PLS 1214 NE-1/4-SW-1/4 Block 8 rp7j 3 1.8'WEST SEC 21 Lev' Property LLC o T-15-N, R-30-W w v o Instrume 1No. 2007-40970 Block 7 N -ofo Instrume 1 No. 2008-27511 r` M z 76-09650-000 3 O cC\( v c7 + z 03 > o 1 z Q + c� = c 0 c 10® WIRE 86.41' o 154.92' FENCE 87°05'08 W v N 87°OS'08" W 3 3.97' h 5 02°56'43" W o 5 O O3 a SW1/16 COB. SEC 21 ® v FOUND � STONE O Parksdole ddition m 0 © N I - old O c::)N ® 3 I F syft-m e ENGINEERING DIVISION 1 1 3 W. MOUNTAIN STREET PHQ E: (479) 575-8206 W NO; (4791 575-8202 TITLE: TOWNBRANCH TRAIL EXHIBIT DATE' Roy 2017 REVISED SHEET: El DESCRIPTION: LEVI STORAGE CENTER TRAIL PROPERTY ____ DRAWN BY: MPM CHECKED BY: Ov0 IFILE NAME: Levi E.Hi bit—q (Page 1 of 7) .PQ BOX"9Qo's.ivtxi ,DRO...OZS Z-OAa......� ....AW ..... i illllli allll Il ll�i ill I1r� �111 Ulf IIII illl III IIII Ilili II II Ills III Doc ID: 014807960007 Type: REL Kind: MORTGAGE Recorded: 09/24/2012 at 11:56:32 AM Fee Amt: $45.00 Pace 1 of 7 Washincton Countv. AR Bette Stamcs Circuit Clerk Flle2012_00028728 Shutt of Arkausas -- - ----- ----- - -- Slince AlKrre Tlds Line For ntri•rding Uara REAL ESIWIT', MORTGAGE (Willi I-'uturc Advance Clause) 1. DATE AND PAR-1 IES. The date of this Mortgage isS-EPTEKAER...1.7.,20.2li the parties anti their addresses arc as follows: MORTGACigR:LE.yX....SIOI2AGE,,,CENTER, LLC ❑ Refer to the Addendum which is attached and incorporated herein for additional Mortgagors. LENDER: ,A.RNS.T-RANG-.-BANK.............................................................................. -S1-0.---E, SHAWNTEL...SMITH..BLVD............................................. MUTLDROW... OK...7.49-4&r%0.90.0......................................................... .................................................................................................................... 2. MORTGAGE. For good and valuable consideration, [lie receipt and sufficiency of which is acknowledged, and to secure the Secured Debt (hereafter defined), Mortgagor grants, bargains, conveys and mortgages to Lender the following described property: *SEE EXHIBIT 'A' ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE 17tcprol,crly is I<>c<rlctl ill ...-,WASHINGT........................................................ at ........................................................... (<'. uunly) ..1800;... S..-.STZRMAN.--AVE........ ............. .... FAUTTE.UL.I..E........................ Arkansas ......12.7 0......-..-.-....... (A Jdr-,) (01y) (Zi l' (AWC) Together with all rights, casements, appurtelilt ices, royalties. mineral rights, oil and gas rights, crops, bather, all diversion payincnts Ur third parly payments made it) crop Prudacer's which are nut directly related to crop lwoductiun prlieeeds, and all exisling iuid fuuure improvements, sU'ucitires, fixtures, and rcplacenienls that way now, or al any lime ill the fUlurc, he parr Illthe real estate described above (all referred to as "Property"). The lenn Property also includes, but is not limited it), any and all water wells, water, ditches, ri•servoirs, reservoir sites and Hants located tilt the real cstutc and all riparian and water tights associated with the Properly, huwcvel• cstahlished. 3. MAXIMUM OBLIGATION 1JM1T. The total pri icil,al innuun[ of the Secured Debt fhcrealter defined) secured by (his Murigage al ally one little-5.Q shall not exceed $ 1.,.Q.,QQQ.QQ..................... •riiis lihniiatiun or ainouot does not include inicrest, limn charges, conuaiunent fees, hrokentge cononissions, al(orneys' fees and other charges validly nuide pursuaul 10 this A4urtgage and does Rol apply it) advances (or inicrest accrued on such advances) matte under the terns of [his Mortgage to prutecl Lender's security and to perforu, any tit' the covenwits ctml;liacd in this Mortgage. Futtire advances are cuilten,plated and, along Willi other future obligations, arc securer( by (his Mortgage even Ihuugh ill of purl may till[ yet he advanced. Nothing in this Mortgage, however, shall COnxlitote it commilmcnt to make addiiiunal or fulurc hums or iidvancta i» any amount. Any such canuniinicnl would need to he agreed to in a separale writing. 4. SrCUKED DEIRT REFINED. "rhe Icon "SCCUIC(1 13161 ' includes, [)tit iS not limited it), the following: A. The promissory vote(s), contiaci(s), gua anly(s) or other evidence of dchl dr-scrihct) below and all exlcllsiuns, renewals; nurdil'icaliuns or snhslitutiuns (Vvidence ul Debt): ............................................................... .DATED-..SEPTEMBER-.1.7...... 2.0.12.... I.N.... THE- ACO.UNT...O.F-...$.1., 5.0.0.,.00.0.-0.0....................... ACCRUING ... AT...A... VARIABLE ....RAT.E-.l-1-T.H...A.•MATURI•T•Y...DATE..AF...SEPTEKBER.... .17.., -.202.7.......SAID... LOAN ....IN.... THE ... AME(.S)....OT...LEU...STORAGE...CENTER...LLG... ............................................................................................................................................................................................. (c.K., bor.—W., uanle, hula• ;moans, i,ilvwsl rare, m: lmity J;,10 ARKANSAS - ACRICULTURAUCOMMERCIAL MORTGAGE (Not FOR FNMA, W H MC, r i M (Nt VA USE. AND NOT FOR C0161."F-n PUnPOSES) (p e I OI6) — 190 13,4x Sr-ac , , I— St Cb1. MN 0SM-397-2311) F—,, AG'CO AI rG AN ?:`JI' 3 � � „ _-_— File Number: 201200028728 Page 1 of 7 File Number: 2012-00028728 Seq: 1 (Page 2 of 7) B. All future advances from Lender to Mortgagor oi• other future obligations of Mortgagor to Lender under any promissory note, contract, guaranty, or other evidence of debt existing now or executed after this Mortgage whether or not this Mortgage is specifically referred [o in lire evidence of debt, and whether or not such future advances or future obligations are incurred for tiny purpose that was related or unrelated to the purpose of Ilse Evidence of Debt: C. All obligations Mortgagor owes to Lender, which now exist or may later arise, to the extent not prohibited by law, inchrding, but not limited to, liabilities for overdrafts relating to any deposit account agreement between Mortgagor and Lender. D. All additional sums advanced and expenses incurred by Lender for insuring, preserving or otherwise protecting the Property and its value and any Other sums advanced and expenses incurred by Lender tinder the terms of this Mortgage, plus interest at llte same rate provided in the Evidence of Debt. E. Mortgagor's performance under tine terms of any instrument evidencing a debt by Mortgagor (o Lender and any Mortgage securing, guarantying, or otherwise relating to the debt. If more than one person signs this Mortgage as Mortgagor, catch Mortgagor agrees that this Mortgage will secure all future advances and future obligations described above that are given to Or incurred by any one or more Mortgagor, or any one or more Mortgagor and others. This Mortgage will not secure any other debt if Lender fails, with respect to such other debt, to make any required disclosure about this Mortgage or if Lender fails to give any required notice of the right of rescission. 5. PAYMENTS. Mortgagor agrees to make all payments on the Secured Debt when due and in accordance with the terms of the Evidence of Debt or this Mortgage. 6. WARRANTY OF TITLE. Mortgagor covenants Thal Mortgagor is lawfully seized of the estate conveyed by this Mortgage and has the right to grant, bargain, convey, sell, and mortgage the Property and warrants that the Property is unencumbered, except for encumbrances of record. 7. CLAIMS AGAINSTTITLE. Mortgagor will pay all taxes, assessments, liens, encumbrances, lease payments, ground rents, utilities and other charges relating to the Properly when due. Lender may require Mortgagor to provide to Lender copies of all notices that such amounts are disc and [he receipts evidencing Mortgagor's payment. Mortgagor will defend title to the Properly against ally claims [hat would impair the lice of this Mortgage. Mortgagor agrees to assign to Lcnder, as requested by 1_cndcr, any rights, claims or defenses which Mortgagor may have against parlies who supply labor or materials to improve or maintain the Property. 8. PRIOR SECURITY INTERESTS. With regard to ally other mortgage, deed of trust or security agreement that created it prior security interest or encumbrance on the Pruperty and that may have priority over this Mortgage, Mortgagor agrees: A. To make: all payments when due and to perform or comply with all covenants. B. To proarp(ly deliver to Lender any notices that Mortgagor receives from the holder. C. Nut to make or permit any modification or extension of, and not to request or accept any future advances tinder any note or agreement secured by, the other mortgage, deed of trust or security agreement unless Lender consents in writing. 9. DUE ON SALE OR ENCUMBRANCE. Lender may, at its option, declare the entire balance of the Secured Debt w he immediately due and payable upon the creation of any lien, encumbrance, transfer, or sale, or contract for any of these on the Property. However, if Lite property includes Mortgagor's residence, this section shalt be subject to the restrictions imposed by federal law (12 C.F.R. 591 et sc(l.), as applicable. For the purposes of this paragraph, the tern, "Property" also includes any interest to all or any pair[ of the Property. This covenant shall run with file Property and shall remain in effect until flit: Secured Dcbt is paid in full and This Mortgage is released. 10. TRANSFER OF AN INTEREST IN THE MORTGAGOR. II' Mortgagor is an entity Other than a natural person (such as a corporation or other organiza(ion), Lender may deniand inn,edime payment if (1) a beneficial interest in Mortgagor is sold Or transferred; (2) there is is change in either the identity or number of incmbers of a partnership; or (3) (rere is a change in ownership of more (ran 25 percent of the wiling stock of a corporation. however, Lender may not demand payment in the above situations if it is prohibited by law as of the date of this Mortgage. 11. ENTITY WARRANTIES AND REPRESENTATION& 11 Morlgagor is an entily other than a natural person (such as a corporation or other organization), Mortgagur makes to Lender the following warranties and represenla Lions which shall be continuing as long as the Secured Debt remains outstanding: A. Mortgagor is an entity which is duly organized and validly existing in the Mortgagor's state of incorporation (or organization). Mortgagor is in good standing in all states in which Mortgagor transacts business. Mortgagor has the power and authority to own the Property and to carry on its business as now being conducted and, as applicable., is qualified to it() so in each slate in which Mortgagor operates. it. The cxecu(ion, delivery and performance of this Mortgage by Morlgagor and the obligation evidenced by the Evidence of Dehl are within the power of Morlgagor, have hcen duly authorized, have received all necessary governmental approval, and will not violate any provision of law, or order of courl or governmental agency. C. Other than disclosed in writing Mortgagor has not changed its name within the last tell years and has not used any other trade or fictitious name. Without Lender's prior written consent, Mortgagor does not anti will not use ;ury other rrtme and will preserve its existing nannc, trade names and franchises until tine Evidence of Debt is sit[ isfied. 6 70036a kas Syve .InC,SI. CIwC,MN(t,6W-387-2341) Form AGlCo-M1G.Aa MI 1.44 (page 2 of 6) File Number: 201200028728 Page 2 of 7 File Nnmuber: 2012-00028728 Seq: 2 (Page 3 of 7) 12. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Mortgagor will keep the Properly in good condition ;tell stake all repairs that are raasomably ,c(-cssilry. Mortgagor will give Lender prompt notice of any loss or damage to the Properly. Mortgagor will keep lire Property free ()]'noxious weeds and grasses. Mortgagor will not initiate, join in or consent to any change in any private restrictive covenant, coning ordinance or other public or private restriction limiting or defining the uses which pray he made of the Properly or any part of the Properly, without Lender's prior written consent. Mortgagor will comply will, all legal requirements and restrictions, whether public or private, will) respect to Cite use of the Property. Mortgagor also agrees (hat the nature of the occupancy and use will nut change without [..,Loader's prior written consent. Mortgagor will notify Lender of all demands, proceedings, claints and actions against Mortgagor orally ()tiler owner made under any law or regulation regarding use, ownership and occupancy of the Property. No portion of the Property will he renloved, demolished or materially altered without Lender's prior written consent except that Mortgagor has the right to remove items of personal property comprising a part of the Properly (hill become worn or obsolete, provided that such personal properly is replaced with other personal property al least equal in value to the replaced personal property, free front any title retention device, security agreement or Other encumbrance. Such replacement Of personal property will be deemed subject to the security interest created by this Mortgage. Mortgagor shall not partition or subdivide the Properly without Lender's prior written consent. Lender or Leader's agents may, at Lender's option, enter the Property at may reasonable time for the purpose of inspecting the Properly. Any inspection of the Property shall be entirely for Lender's benefit and Mortgagor will in no way rely on Lender's inspection. 13. AUTHORITY TO PERFORM. if Mortgagor fails to perform any of Mortgagor's duties under this Mortgage, nr :try other mortgage, deed of ()-list, lien or Other security interest that has priority over this Mortgage, Lender may, without notice, perform the duties or cause them to be perforalcd. Mortgagor appoints Lender as attorney in fact to sign Mortgagor's name or pay any amount necessary liar performance. If any construction on the Properly is discanlinued or not carried oil in a reasonable manner, Lender may do whatever is necessary to protect LCluler's security interest in line Property. This may include completing the construction. Lender's right to perform for Mortgagor shall not create an obligation to perform, and tender's failure ht perform will not preclude l.crder from exercising any of Lender's other rights under the law or this Mortgage. Any amounts paid by Lender for insuring, preserving or otherwise protecting the Property and Lender's security interest will he ,Line on demand and will hear interesl from Ilse dale of the payntcn( mail paid in full at the itterest rate in effect from tittle to little according to the loots of the Isvideuce tit' Debt. 14. CONDOMINIUMS; PLANNED UNIT DEv11U,OPMENTS. If the Property includes it unit in a condominium or a Planned unit development, Mortgagor will perform all of Mortgagor's duties under the covenants, by-laws, or regulations of the condominium or planted unit development. 15. DEFAUIX. Mortgagor will he in clefaull if oily of ilte following occur: A. Any party obligated on the Secured Debt fails to make payunent when due; If. A breach of nay term or covenant in this Mortgage, :my prior nwrtgage or any construction loan rrgrecmcnl, security agreement or any other document evidencing, guarantying, securing or Otherwise relating to the Secured Debt; C. The making or furnishing of any verbal or written representation, statement or warranty to Lender (hill is false or incorrect in any material respect by Mortgagor or any person or entity obligated on the Secured Debt; 1). The death, dissolution, appointment of a receiver, insolvency, or application of any debtor relief law to or of Mortgagor orally person or entity obligated on the Secured Debt; E. A good faith belief by Lender at any time that Lender is insecure with respect to any person or entity obligated on the Secured Debt or that the prospect of any payment is impaired or the Property is impaired; F. A material adverse change in Mortgagor's business including ownership, management, and financial conditions, which Lender in its opinion believes impairs the value of the Property or repayment of the Secured Debt; or G Any loan proceeds are used for a purpose Thal will eontribule to excessive erosion of highly crodible land or to lite conversion of wetlands it) produce an agricultural commodity, as further explained ht 7 C.F.R. Part 1940, Subpart G, Exhibit M. Ib. REMEDIES ON DEFAULT. iit some instances, fCdcrat and SUIe law will require Lender to provide Mortgagor with notice of llte right W cure, mediation polices or other notices and may establish time schedules for foreclosure actions. Subject 10 these limitations, it' any, Lender miry acccicralc the Secured Debt and foreclose (his Mortgage in a manner provided by law if this Mortgagor is in deRatll. At the option of [.ender, all or any part of the agreed fees and charges, accrued interest and principal shall become immediately tine and payable, after giving notice if required by law, upon the occurrence of a default or anytime thereafter. In addition, Lender shall he entitled to all the remedies provided by law, the Secured Debt, this Mortgage and any related documents including without limitation, the power to sell the Property. All remedies are distinct, cumulative and not exclusive, and the Lender is entitled to all remedies provided at law or equity, whether expressly set forth or not. The acceptance by Lender of arty stun in payment or partial payment on the Secured Debt after the balance is due or is accelerated or after foreclosure proceedings are filed shall not constitute a waiver of Lender's right to require full and complete cure of any existing default. By not exercising any remedy on Mortgagor's default, Lender does not waive Lender's right to later consider the event a default if it continues or happens again. W ty938onkets SyWcma, anG, St C7ou0, Ain (t•9P0-397-7Sa11 FonnAryeO.MTG•An 7/9/97 t.J . leow File Number: 201200028728 Page 3 of 7 File Number: 2012-00028728 Seq: 3 (Page 4 of 7) 17. i:XPENSES; ADVANCES ON COVENANT'S; ATTORNEYS' FEES; COLLECTION COSTS. Except when prohibited by law. Mortgagor agrees to pay all of Lender's expenses if Mortgagor breaches any covenant in this Mortgage. Mortgagor will also pay on demand till of Lender's expenses incurred in collecting, insuring, preserving or protecting the Properly or in any inventories, audits, inspections or other examination by Lender in respect to the Property. Mortgagor agrees to pay all costs and expenses incurred by Lender in enforcing or protecting Lender's rights and remedies under this Mortgage, including, but not limited to reasonable attorneys' fees (as determined under A.C.A. 16.22-308), court costs, and other legal expenses. Once the Secured Debt is fully and finally paid, Lender agrees to release this Mortgage and Mortgagor agrees to pay for any recordation costs. All such amounts are due on demand and will bear interesf from the little of Ilse advance at the same rate provided in the Evidence of Debt and as permitted by law. 118, ENVIRONMENTAL. LAWS AND HAZARDOUS SUBSTANCES. As used in this section, (1) "Environmental law" means, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA, 42 U.S.C. 9601 at seq.), all other federal, state and local laws, regulations, ordinances, court orders, attorney general opinions or interpretive letters concerning the public health, safety, welfare, environment or a hazardous substance; and (2) "Hazardous Substance" means any toxic, radioactive or hazardous material, waste, pollutant or contaminant which has churaelerislics which render file substance dangerous or potentially dangerous to the public health, safety, welfare or envirotnmew.'Fhe term includes, without limitation, any substances defined its "hazardous material," "toxic Substances," "hazardous waste" or "hazardous substance" under any Environmental Law. Mortgagor represents, warrants and agrees that, except as previously disclosed and acknowledged in writing: A. No Hazardous Substance has been, is, or will be located, Iransporled, manufacluied, treated, refined, or handled by any person on, under or about the Property, except in the ordinary course of business and in strict compliance with all applicable Environmental I.aw. 13. Mortgagor has not and will not cause, contribute to, or permit the release of any Hazardous Substance on the Property. C. Mortgagor will immediately notify Lender if (1) a relcast: or threatened release of Hazardous Substance occurs on, under or about the Property or migrates or threatens to migrate from nearby property; or (2) (here is a violation of any Environmental Law concerning the Property. In such an event, Mortgagor will take all necessary remedial action in accordance with Erivironnicntal Law. 1). Mortgagor hits no knowledge of or reason to believe there is any pending or threatened investigation, claim, or proceeding of tiny kind relating to (1) any Hazardous Substance located on, under or about the Property; or (2) any violation by Mortgagor or any tenant of any Lnvironntental Law. Mortgagor will immediately notify Lender in writing as soon as Mortgagor has reason to believe there is any such pending or threatened investigation. claim, or proceeding, in such an event, lender has ilia right, but not the obligation, to participate in any such proceeding including the right to receive copies of any documents relating to such proceedings. E. Mortgagor and every tenant have been, are and shall remain in full compliance with any applicable Environmental Law. P. There are no underground storage tanks, private dumps or open wells located on or under the Property and no such lank, dump or well will be added unless Lendcr first consents in writing. G. Mortgagor will regularly inspect Ale Property, monitor the activities and operations on the Properly, and confirm that all permits, licenses or approvals required by ally applicable Environmental Law are obtained and complied Willi. 1-I. Mortgagor will permit, or cause any tenant to permit, Lender or Lender's agent to enter and inspect the Property and review all records at any reasonable time to determine (1) the existence, location and nature of any Hazardous Substance on, under or about the Property; (2) Ate existence, location, nature, and magnitude of any i tazardous Substance that has bceo released on, under or about the Property; or (3) whether or not Mortgagor and any tenant are in compliance with applicable Environmental Law. I, Upon Lender's request and w any time, Mortgagor agrees, at Mortgagor's expense, to engage a qualified environmental engineer to prepare un environmental audit of the Properly and to submit the results of Such audit to Lender. The choice of file elvirmmnlc17t11 engineer who will perform such audit is subject to Lender's approval. J. Lelder has file right, bill not the obligation, to perform tiny of Mortgagor's obligations under this section at Mortgagor's expense. K. As a consequence of any breach of any represcnlatiou, warranty or promise made in this section, (1) Mortgagor will indemnify and hold Lender and Lender's successors or assigns harmless from and against all losses, claims, demands, liabilities, damages, cleanup, response and renedialion costs, penalties and expenses, including without limitation all costs of litigalioa and attorneys' fees, which Lender and Lender's successors or assigns may sustain; and (2) at Lender's discretion, Lender may release this Mortgage and in return Mortgagor will provide lender with collateral of at [cast equal value to the Property secured by this Mortgage without prejudice to any of i.ende's rights under this Mortgage. L. Notwithstanding any of the language contained in this Mortgage to the contrary, Ate terns of this section shall survive any foreclosure or satisfaction of this Mortgage regardless of any passage of title to Lender oranydisposition by Lender of any or all of i he Property. Any claims and defenses to the contrary are hereby waived. 19. CONDEMNATION. Mortgagor will give Lender prompt notice of any action, real or threatened, by private or public entities to purchase or take any or all of the Property, including any easements, through condemnation, cmincnl domain, or any other means. Mortgagor further agrees to notify Lender of any proceedings instituted for the es(ablishincnt of any sewer, water, conservation, ditch, drainage, or other district relating to or binding upon the Properly or any part of it. Mortgagor authorizes Leader tin intervene in Mortgagor's name in any of (he above descrihcd actions or claims and to collect and receive all sunns resulting from the action or claim. Mortgagor assigns h) Lender file proc"ds of any award or claim for damages connected with it condemnation or other taking of all or any part of the Property. Such procecrlS Shull be considered paynnenls and will be applied as provided in this Mortgage. This assignment of proceeds is subject to the terms of any prior security agrecnnen(. Ge 1993 Bankers Systems. W.. Si. Cloud, MN 11-800397.23a I t Oorm AG/CO-MMAa 7/M3 1-�/ (page 4 016) File Number: 201200028728 Page 4 of 7 File Number: 2012-00028728 Seg: 4 (Page 5 of 7) ®R* 27. U.C.C. PROVISIONS. if checked, the following are applicable to, but do not limit, this Mortgage: ❑ Construction Loan. This Mortgage secures an obligation incurred for the construction of an improvement on the Property. E7 Fixture Filing. Mortgagor grants to Lender a security interest in all goods that Mortgagor owns now or in the future and that are or will become fixtures related to the Property, ❑ Crops; Timber; Minerals; Rents, issues, and Profits. Mortgagor grants to Lender a security interest in all crops, limber, and minerals located on the Properly as well as all rents, issues, and profits of them including, but not limited to, all Conservation Reserve -Program (CRP) and Payment in Kind (PIK) payments and similar governmental programs (all of which shall also be included in the term "Properly"). ❑ Personal Property. Mortgagor grants to Lender a security interest in all personal property located on or connected with the Property. This security interest includes all farm products, inventory, equipment, accounts, documents, instruments, chattel paper, general intangibles, and all other items of personal property Mortgagor owns now or in the future and that are used or useful in the construction, ownership, operation, management, or maintenance of (Ile Property. The term "personal property" specifically excludes that property described as "household goods" secured in connection with a "consumer" loan as those terms are defined in applicable federal regulations governing unfair and deceptive credit practices. 28. OTHER TERMS. If checked, the following are applicable to this Mortgage: ❑ Line of Credit. The Secured Debt includes a revolving line of credit provision. Although the Secured Debt may he reduced to a zero balance, this Mortgage will remain in effect until released. ❑ Agricultural Property. Mortgagor covenants and warrants that the Property will be used principally for agricultural or farming purposes and that Mortgagor is an individual or entity allowed to own agricultural land as specified by law. ❑ Separate Assignment. A separate assignment of leases and rents has been executed by the Mortgagor. ❑ Additional Terms........................................................................................:............................................................ ............................................................................................................................................................................................ ............................................................................................................................................................................................ SIGNATURES: By signing below, Mortgagor agrees to the terms and covenants contained in this Mortgage and in any attachments (hat Mortgagor has signed. Mortgagor also acknowledges receipt of a copy of this Mortgage on the date stated above on Page 1. ® Actual authority was granted to the parties signing below by resolution signed and dated ...0.9j.11/.12............. . Entity Name: LEVI ....STORAGE ...CENTER .,....jaU Enii( N AN ARKANSAS LIMITED LIABILITY 60ame:............................................................................ {Signature) (pate) (Signature) (Date) RAYMOND EE ME.. AGI1N. G�( �, M)'BR%Z(.S.i.gnat ur.e....... (part) ❑ Refer to the Addentium which is attache and incorporated herein for additional Mortgagors, signatures and acknowledgments. ACKNOWLEDGMENT: STATE OP ...Old COUNTY OF ....................... ........................................................................... jss. (mai w, t, On this .................. ....... day of............................................................... before toe, a notarypublic, personally appeared P , P y .............. .............................................. ............. ..... I ............ I ........... ... known to me (or satisfactorily proven) to be the person(s) whose name(s)................................................................................. subscribed to the within instrument and acknowledged that ............ he ............ executed the same, with the relinquishment and waiver of all rights of homestead exemption, statutory redemption, appraisement, cur(esy and dower, for the consideration and purposes therein mentioned and set forth. My commission expires: (srnry ............................................................................................ tr (Notary Public) STATE OF ..G Cc. ✓M . `'°`— . COUNTY OP ....!q, . f�.. . . - ��. �•... ................... I ss. On this ......... (.7 ............... day oft..j11e.!r................ eforc me, a notary public, personally ta�ra. I y P p y /ty appeared ..RA.YMOND...LEE...MERR. LL.—RANAGING--MBR......................................................... ....... MjveuwpWncmt ....................... ...............,......,.....................`8.............................................................. (Title(s)) T"a..Prq:......t~'K.7.....GG.......................................... M f �, (Name of Business or Entity) anr........ r..h....f.............1 %1H....i�k.........�...!t.�.r.li. i�.`X.......-...11 •�1. �rr ........... , and that they, as such officers, being authorized so to do, executed the foregoing instrument r th purposes (herein contained, by signing the name of Cite basin ss r cnlity�ts such Officers. My ctu%1%iVMl11d*Vjfes: l rL�/S `1\ �. *ipv p -i-� (Notary Public) •••••... 1 op -j Comm cs I I •Q�.,• ���$ a'.aaaeaoaaneyp ,tft ��CoGd M �tar3ni} Fo=AG/e6MTG-AR 219M3 d.. (page 6Of 6) File Number: 201200028728 Page 5 of 7 File Number: 2012-00028728 Seq: 5 (Page 6 of 7) 20. INSURANCE. Mortgisgor.agrees to maintain insurance as follows: A. Mortgagorsltell.keep the improvements now existing or hereafter built oil the Property insured against loss by fire, ha• r included within the term "extended coverage" and any other hazards, including floods or flooding, for will! ,t 1 der requires insurance. This insurance shall he maintained in the amounts and for the periods that I_endcr requires. The insurance carrier providing the insurance shall he chosen by Mortgagor subject to Lender's tip (eruval, which shall not be unreasonably witbbcld. If Mortgagor fails to maintain the coverage described !b5li% L4dcr,may, at Lender's option, Obtain coverage to protect Lender's rights in the Property according to nVeigl�gf this Mortgage. All insurance policies and renewals shall he acceptable to lender and shall include a standard "mortgage clause" and, where upplicablc, "lender loss payee clause." Lender shalt have the right Io hold the policies and renewals. if Lender requires, Mortgagor shall promptly give to Lender all receipts of paid premiums and renewal notices. Upon loss, Mortgagor shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Mortgagor. Unless Lender and Mortgagor otherwise agree in writing, insurance proceeds shall he applied to restoration or repair of the Property damaged if (he restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to Lite Secured Debt, whether or not then clue, will, any excess paid to Mortgagor. 11' Mortgagor abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered 10 settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay the Secured Deb( whether or not [lien due. The 30-day period will begin what the notice is given. Unless Lender and Mortgagor otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of scheduled payments or change the amount of the payments. If file Property is acquired by Lender, Mortgagor's right (o any insurance policies and proceeds resulting from damage to the Property before the acquisition shall pass (o Lender to the extent of (he Secured Debt immediately before the acquisition. B. Mortgagor agrees to maintain comprehensive general liahili(y insurance naming Lender as an additional insured in an amount acceptable to Lender, insuring against claims arising from any accident or occurrence in or no llte Property. C. Mortgagor agrees to maintain rental lugs or business interruption insurance, as required by Lender, in an amount equal to at least coverage of one year's debt service, and required escrow account deposits (if agreed to separately in writing), under it form of policy acceptable to Lender. 21. NO ESCROW FORTAXES AND INSURANCE. Unless otherwise provided in a separate agreement. Mortgagor will not he required to pay to Lender funds for taxes and insurance in escrow, 22. FINANCIAL REPORTS AND ADDITIONAL DOCUMENTS. Mortgagor will provide to Lender upon request, any financial s(atement or information Lender may deem necessary. Mortgagor warrants that all financial statements and information Mortgagor provides to Lender are or will be accurate, correct, and complete. Mortgagor agrees to Sign, deliver, and file as Lender may reasonably request any additional documents or certifications that Lender may consider necessary to perfect, continue, and preserve Mortgagors obliga(ions under (his Mortgage and Lender's lien status on the Property. If Mortgagor fails to do so, Lender may sign, deliver, and file such documents or certificates in Mortgagor's name and Mortgagor hereby irrevocably appoints Lender or Lender's agent as attorney in fact to do the things necessary to comply with this section. 23. JOINT AND INDIVIDUAL. LIABILITY; CO-SIGNERS; SUCCESSORS AND ASSIGNS BOUND. All duties under this Mortgage are joint and individual. If Mortgagor signs this Mortgage but does not sign the Evidence of Debt, Mortgagor does so only to mortgage Mortgagor's interest in lite Property to secure payment of the Secured Debt and Mortgagor does not agree to be personally liable on the Secured Debi. Mortgagor agrees that Lender and any party to this Mortgage may extend, modify or make tiny change in the terms of this Mortgage or the Evidence of Debt without Mortgagor's consent. Such a change will not release Mortgagor from the terms of this Mortgage. The (luties and benefits of this Mortgage shall bind and henefi( (lie successors and assigns of Mortgagor and Lender. If this Mortgage secures a guaranty between Lender and Mortgagor and does not directly secure the obligation which is guarantied, Mortgagor agrees to waive any rights that may prevent Lender from bringing any action or claim against Mortgagor or any party indebted under the obligation including, but not limited to, anti -deficiency or one -action laws. 24. APPLICABLE LAW; SEVERABILITY; INTERPRETATION. This Mortgage is governed by the laws of file jurisdiction in which Lender is located, except to [he extent otherwise required by the laws of the jurisdiction where the Property is located. This Mortgage is complete and fully integrated, This Mortgage may not be amended or modified by oral agreement. Any section or clause in this Mortgage, attachments, or any agreement related to the Secured Debt that conflicts with applicable law will not be effective, unless that law expressly or impliedly permits the variations by written agreement. If any section or clause of this Mortgage cannot he enforced according In its terms, Ihut section or clause will be severed and will not affect the enforceability of the remainder of this Mortgage. Whenever used, the singular shall include the plural and the plural the singular. The captions and headings of tine sections of ibis Mortgage are for convenience only and arc not to be used to interpret or define the terms of this Mortgage. Time is of the essence in this Mortgage. 25. NOTICE. Unless otherwise required by law, any notice to Mortgagor shall be given by delivering it or by mailing if by firs( class mail to Mortgagor's address on page I of this Mortgage, or to any other address that Mortgagor has designated in writing. Mortgagor will give any notice [u Lender by mailing it first class to Lender's address on page I of [his Mortgage, or to any other address that Lender has designated in writing. Any notice shall be deemed to have been given to either party when given in (lie manner srated above. 26. WAIVERS. To the extent applicable, Mortgagor waives all rights relating to appraisement, sale, redemption and homestead under the laws of the Slate of Arkansas, especially under 18-49-106. To the extent applicable, Mortgagor relinquishes all rights of curtesy and dower in the Property. G 78998anke[r Syslemr.Im., Sl. CIaQ MNtb8D038r i3n) Form MYCONTO-An 2093 4 (page 5of6) File Number: 201200028728 Page 6 of 7 File Nurnbex: 2012-00028728 Seq: (Page 7 of 7) EXHIBIT'A' ATTACHED HERETO AND INCORPORATTED HEREIN BY REFERENCE LOTS 1 THROUGH 11, INCLUSIVE, IN BLOCK 7, LOTS 1 TO B, INCLUSIVE, IN BLOCK 8 THE QUARTER SECTION LINE BETWEEN THE NW/4 OF THE SW/4 AND THE SW/4 OF THE SW/4 OF SECTION 21, TOWNSHIP 16 NORTH, RANGE 30 WEST OF THE FIFTH PRINCIPAL MERIDIAN BEING THE NORTH BOUNDARY LINE OF LOT 8 OF SAID BLOCK 8; LOTS 10 TO 22, INCLUSIVE, IN BLOCK 9; LOTS 1 T017, INCLUSIVE, IN BLOCK 11; IN THE PARKSDALE ADDITION TO THE CITY OF FAYETTEVILLE, ARKANSAS, AS PER THE PLAT ON RECORD IN THE RECORDER'S OFFICE OF WASHINGTON COUNTY. AND ALSO, THE FOLLOWING FORMER STREETS AND ALLEYS WHICH WERE ABANDONED AND VACATED BY ORDINANCE NOS. 1073 AND 1091 OF THE CITY OF FAYETTEVILLE, PASSED AND APPROVED OCTOBER 5, 1954 AND AUGUST 8, 1955, RESPECTIVELY; THAT PORTION OF PETTIGREW STREET IN THE CITY OF FAYETTEVILLE, ARKANSAS, BETWEEN DUNCAN STREET(NOW AVENUE) AND STIRMAN STREET(NOW AVENUE); THAT PORTION OF DUNCAN STREET(NOW AVENUE) BETWEEN THE ST. LOUIS AND SAN FRANCISCO RAILROAD RIGHT OF WAY AND A CREEK RUNNING IN A NORTHEASTERLY DIRECTION AND CROSSING DUNCAN STREET(NOW AVENUE) SO AS TO FORM THE NORTH BOUNDARY OF LOT 1 OF BLOCK 7 OF PARKSDALE ADDITION OF THE CITY OF FAYETTEVILLE, ARKANSAS; THAT PORTION OF A 20 FOOTWIDE ALLEY EXTENDING NORTHWARD FROM PETTIGREW STREET BETWEEN 3,4,5,6,7, INCLUSIVE, AND LOT 8, IN BLOCK 8 OF PARKSDALE ADDITION TO THE CITY OF FAYETTEVILLE, ARKANSAS, BETWEEN SAID LOTS AND THE ST, LOUIS AND SAN FRANCISCO RAILROAD RIGHT OF WAY, AS SAME IS NOW PLATTED IN THE OFFICE OF THE CIRCUIT CLERK AND EX-OFFICIO RECORDER OF WASHINGTON COUNTY, ARKANSAS. SUBJECT HOWEVER, TO AN EASEMENT GRANTED TO THE CITY OF FAYETTEVILLE, ARKANSAS BY LUCILLE E WESNER, BY AN INSTRUMENT DATED JANUARY 16, 1956, INTENDED TO BE RECORDED IN WASHINGTON COUNTY, ARKANSAS, HEREWITH, FOR CONSTRUCTION, MAINTENANCE, LAYING, REMOVAL, RELAYING AND OPERATING GAS, WATER, AND SEWER PIPE LINES AND APPURTENANCES THERETO ON, OVER, ACROSS AND UNDER A PORTION OF THE ABOVE DESCRIBED PREMISES. AND BEING SUBJECT TO ANY EASEMENTS, RIGHT OF WAYS, COVENANTS AND RESTRICTIONS OF RECORD. ALSO, LOT 16, BLOCK 10 AND LOTS 18, 19, 22, & 23, BLOCK 11, PARKSDALE ADDITION TO THE CITY OF FAYETTEVILLE, ARKANSAS, AS PER PLAT ON FILE IN THE OFFICE OF THE CIRCUIT CLERK AND EX-OFFICIO RECORDER OF WASHINGTON COUNTY, ARKANSAS. ALSO ANY RIGHT, TITLE OR INTEREST IN AND TO ABUTTING ALLEYS WHICH WERE VACATED BY THE CITY OF FAYETTEVILLE, ARKANSAS, BY VIRTUE OF ORDINANCE NO. 2271, FILED FOR RECORD SEPTEMBER 15, 1976, AND RECORDED IN RECORD BOOK 914, AT PAGES 18 AND 19 OF THE LAND RECORDS IN THE OFFICE OF THE CIRCUIT CLERK OF WASHINGTON COUNTY, ARKANSAS. SUBJECT TO EASEMENTS, RIGHT-OF-WAYS, AND PROTECTIVE COVENANTS OF RECORD, IF ANY. File Number: 201200028728 Page 7 of 7 File Number: 2012-00028728 Seq: 7 Scoufos Law Offices, A C'. A0.Box 787 Corner of Creek and Elin Streets Sal isaw, Oklahoma 74955 Harty Scoufos 1943-2009 Phone (918) 775-5546 June 4, 2013 VIA EMAIL ONLY[mmihalevich@ci.fayetteville.ar.us] Mr. Matt Mihalevich Trails Coordinator City of Fayetteville 113 W. Mountain Street Fayeteville, AR 72701 RE: Levi Self Storage, LLC Our File No. 9864 Dear Mr. Mihalevich: Fourth Scoufos Licensed in Okla. and Ark, Fax (918) 775-4990 Per our most recent telephone conversation yesterday afternoon, this letter will serve as confirmation that Levi Self Storage, LLC has agreed to sell, and the City of Fayetteville has agreed to purchase, a tract of land consisting of approximately 1.3 acres mll for the sum of $41,862.00. Upon receipt of said sum, Mr. Merrill will execute a Warranty Deed on behalf of Levi Self Storage, LLC conveying the property to the City free and clear of any liens. Byway of a copy of this letter, I am asking Mr. Merrill's lender, Armstrong Bank, to confirm that they will release the tract at issue from their current mortgage. Mr. Merrill expects you will receive the Bank's cooperation. You also asked for a construction easement to gain access to the trail site, which Mr. Merrill is willing to accommodate. However, before he does so, he would like to know the precise route of ingress and egress the City will need in order to get to the construction site and the duration of the proposed construction easement. Of course, any agreement regarding a proposed construction easement would necessarily include a guarantee by the City that any damage to the surrounding area, specifically including the Levi Self Storage property, would be repaired to a condition at least equal to the condition it was in beforehand. Finally, when the trail is completed, Mr. Merrill would like to place a bench alongside the trail adjacent to the Levi Self Storage property with a plaque, sign or etching reflecting that the bench was "generously donated by Levi Self Storage, LLC" or something to that effect. - Is that acceptable? Once again, thank you for your efforts in working with Mr. Merrill to resolve this matter both quickly and fairly. He looks forward to working with the City on other projects in the future to ensure its continued growth, development and success. Fb:tjc //Ak Armstrong Bank June 13, 2013 RE: LEVI STORAGE CENTER, LLC Raymond Merrill 1800 S. Stirman Ave. Fayetteville, AR To Whom It May Concern: This letter is in reference to a mortgage that is held by Armstrong Bank regarding the attached 1.3 acres of property. Armstrong Bank agrees to release the existing mortgage upon the receipt of $41,862.00, pending an approved legal description and new survey. Please make the proceeds payable to Levi Storage Center, LLC and Annstrong Bank. Sincerely, Ole y Lockhart V.P-Branch Manager Muldrow IV ■ Y.� .ow.Noi.io ------ ••• 710 E. Shawntei Smith Blvd. / P.O. Box 900 / Muldrow, OK 74948-0900 / 918-427-3204 / FAX 918427-6693 LENDER emm�¢d{na"e2m Aq /13 AN't Armstrong Bank June 13, 2013 RE: LEVI STORAGE CENTER, LLC Raymond Merrill 1800 S. Stirman Ave. Fayetteville, AR To Whom It May Concern: This letter is in reference to a mortgage that is held by Armstrong Bank regarding the attached 1.3 acres of property. Armstrong Bank agrees to release the existing mortgage upon the receipt of $41,862.00, pending an approved legal description and new survey. Please make the proceeds payable to Levi Storage Center, LLC and Armstrong Bank. Sincerely, y Lockhart V.P-Branch Manager Muldrow -- - « •- 710 E. Shawntel Smith Blvd. / P.O. Box 900 / Muldrow, OK 74948-0900 / 918-427.3204 / FAX 9I8427-6693 LENDER 5 srs,- CITvO=FAYEREVII.Lcrlprv . 7 65-150htio 0 60 GREATHOUSE PARY b� 10 N .. ..... .... FOUND 1/2" REBAR 58,503 SOUA E FEET RLS 849 1.3 Acres Levi Properly LLG ID Instrument No. 2007-409 J- 0� Instrument No. 2008-275)1 765-09650-000 SY NW1/4-SWI/4 F i SEC 21 T- 1 5-N, R-30-W C0 d Universily Arkansas Board of I rtstess 765-15035-000 FOUND 5/8:'REBAR PLS 1214 NEI/4-SVVj/4 Block 8 4� 1.8'WEST SEC, 21 1-15-N, R-30-W Lev Properly LLC C-3 instrurneit No. 2007-40970 91c)c:k 7 Inshmerl No. 2008-27511 o F— .,i 01 76P-09650-000 v) < WIRE 86.4 1 FENCE 1 w w 3.9 7' 02*56'4,5" SWI/16 COR. SEC 2-- 4 FOUND STONE ` L C\j --------- - ------------- - ... ........ TOWNBRANCH TRAIL EXHIBIT ENGINEERING DIVISION,' LEVI STORAGE CENTER 113 W. MOUNTAIN STREET TRAIL PROPERTY I - - --- -7.— - .,_1 i E 1 Future Trail Extention to Razorback Rd. Levi Storage Center G. 2 Legend Future Town Branch Trail Extentions Proposed Town Branch Trail - 0.54 Miles Trail cross under I 7 1'e, I existing bridge at < Proposed Property PurchaseC, S. School Ave. Uj Approximately 1.3 Acres 0 vat 1 o r, 0 TOWN BRANCH Town Qvanch [Futu�re Trail Extention 1 11 r � to Trail Park to W r f a J TOWN BRANCH TRAIL Greathouse to South School Ave. 7a%v- -c t refi I I e 0.54 Miles 0 100 200 400 600 800 1,000 Feet Part of Parcel No. 765-09650-000 WARRANTY DEED BE IT KNOWN BY THESE PRESENTS: Doc ID: 015350360003 Type: REL Kind: WARRANTY DEED Recorded: 08/19/2013 at 09:28:46 AM Fee Amt: $25.00 Pape 1 of 3 Washington County, AR Kyle Sylvester Circuit Clerk File2013-0002 V 3 15 THAT, Levi Storage Center, LLC, an Arkansas limited liability company 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: Lots One (1) through Four (4), inclusive, in Block Seven (7); Lot One (1) in Block Eight (8) in the Parksdale Addition to the City of Fayetteville, Arkansas, as per the plat on record in the office of the Circuit Clerk of Washington County, Arkansas. Being more particularly described as follows: Commencing at a found stone being the Southeast Corner of the Northwest Quarter (1/4), Southwest Quarter (SW Y4), Section Twenty-one (21), Township Sixteen (16) North, Range Thirty (30) West; thence along the Easterly line of said forty (40) acre tract North 02058'37" East 48.87 feet to the Southeast corner of said Lot Four (4) in said Block Seven (7) being the POINT OF BEGINNING; thence leaving said Easterly line North 87005'08" West 154.92 feet; thence South 02056'43" West 3.97 feet; thence North 87005'08" West 86.41 feet to the property line of parcel no. 765-15035- 000 owned by the City of Fayetteville and being known as Great House Park, said property line being the centerline of the Cato Springs Branch; thence along said centerline the following courses: North 04'39'40" East 135.52 feet; North 21 °26'27" East 139.64 feet; North 51 °54'46" East 50.45 feet; North 51 °54'46" East 25.97 feet; North 88015'30" East 55.95 feet; South 12032'43" West 98.00 feet; South 40059'55" East 61.63 feet; North 51 '47'48" East 70.74 feet to said Easterly line of said forty (40) acre tract; thence along said Easterly line South 02058'37" West 224.08 feet to the Point of Beginning, having an area of 1.342 acres, more or less. Subject to easements, rights -of -ways, vacations and protective covenants of record, if any. TO HAVE AND TO HOLD the said lands and appurtenances hereunto belonging unto the said Grantee and Grantee's successors and assigns, forever. And the said Grantors, hereby covenant that they are lawfully seized of said lands and premises; that the same is unencumbered, and that the Grantors will forever warrant and defend the title to the said lands against all legal claims whatever. WITNESS the execution hereof on this / �day of 2013. ATTEST: m) k) [Please print or type Name and Title] Levi Storage Center, LLC, an Arkansas limited liability company r By: lease print Cr type Name and 'title] REVENUE STAMPS AFFIDAVIT The foregoing deed has the correct amount of Revenue Stamps affixed to itt or iq exempt from such stamps. _ Signed: 4 City of Fayetteville 113 W. Mountain Fayetteville, AR 72701 . Warranty Deed -Park property Page 2 of 3 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 It c ,Q - C__ I )and to me well known as the persons who executed the foregoing docum t, and who stated and acknowledged that they are the and , respectively, of Levi Storage Center, LLC, an Arkansas limited liability company, and are duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said company, 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 2013. MY COMMISSION EXPIRES: k.d� HOLLY F. JONES _.A MY COMMISSION # 12365157 Notary Pu I '�'99kAN Py' EXPIRES: May 1, 2011 Benton County I r- I V5e I eotiro I G( Centerrne of Cato SD,iags Brooch I NW 1/4. SW 1/4 I h 2 I (u7T� 765-15035-010 ! ................... . 0 City of Foyetteville, AR ........ ........ _,......._......... ......... . DeedBK 460 PG 217 Instrument No. `2007-6702 ............... ....... ........_. W r7 88°1630° E S 55.95' ................... ..... ._........ -...... _........... ......._,..__. _._ 8, 1' N 87°05'08' W 154,92' . 40AMLk. QN87°0548•W j ..............._......__.........-................_..................' .....' ....0.. S 02°56'43° 5 3.9r Block 8 r Block 9 : Y OS i c 765-09650-000 0 0 b ! Storoge Center, LLC cio N; Levi ; Instrument No. 2012-28727 t _...... petii,grew....St.. (60 wa4l . .. _... Pettigrew...... '- Ave. 1 Block 11 Q _ B O O ; 0 ® O C3 0 i 04� O .......... . .......-..................'...................::: :: ......... _.....- SW / . SW / ... . � oaatetl aiey .' ,- . .. 1 4 1 4 ....................... :_......- .... PROP. LAND ACQUISITION TO CITY OF FAYETTEVILLE —1.342 Acres 40°59'55' E 61.63' 3 NE 1/4, SW 1/4 w /P.0.8. N 02'58'37' E 48.87' aoarauna P.O.C. Found Stone Southeast Garret NWY, SW 1/4 521, T-18-N, R-30•W SE 1/4. SW 1/4 Washington County, AR I certify this instrument was filed on 08/19/2013 09:28:46 AM and recorded in Real Estate File Number 2013-00028315 Kyle Sylvester - phctq Clerk by PARTIAL RELEASE OF MORTGAGE Corporation Form In Consideration of the payment of the debt therein named, Armstrong Bank 810 E SHAWNTEL SMITH BLVD. MULDROW OK 74948 a corporation, does hereby release Mortgage made by ARMSTRONG BANK to LEVI STORAGE CENTER, LLC Doc ID: 015350370002 Type: REL Kind: PARTIAL RELEASE Recorded: 08/19/2013 at 09:30:24 AM Fee Amt: $20.00 Page 1 of 2 Washington County, AR Kyle Sylvester Circuit Clerk File2013-00028316 This Space Reserved for Filing Stamp dated SEPTEMBER 17, 2012, and which is recorded in Book 2012 Mortgages, Page 00028728 of the Records of WASHINGTON County, State of ARKANSAS, covering the following described property: SEE ATTACHED EXHIBIT "A" in WASHINGTON County, State of ARKANSAS In Witness Whereof, Armstrong Bank has caused these presents to be signed by its Vice President, and its corporate seal to be affixed this 9TH day of JULY, 2013. Attest: Secretary TERRY LOC By A��E� Branch Vice President STATE OF OKLAHOMA } CORPORATION ACKNOWLEDGMENT }SS: Oklahoma Form COUNTY OF SEOUOYAH } Before me, the undersigned, a Notary Public, in and for said County and State on this 9 day of JULY, 2013, personally appeared TERRY LOCKHART, to me known to be the identical person who subscribed the name of the maker thereof to the foregoing instrument as its Branch Vice President and acknowledged to me that he executed the same as his free and voluntary act and deed and as the free and voluntary act and deed of such corporation, for the uses and oTA Ar's purposes therein set forth. € # 02015890 Given under my hand and seal of office the da a d year las ove written. a cp EXP.09117/14 � 9��° AU91-�G •/(3 OF OKtiP.�°. My commission expires: 7— Notary Public RELCORP.DDC EXHIBIT "A" Lots One (1) through Four (4), inplusive, in Block Seven (7); Lot One (1) in Block Eight (8) in the Parksdale Addition to the City of Fayettevijle, Arkansas, as per the plat on record in the office of the Circuit Clerk of Washington County, Arkansas. Being more particularly described as follows: Commencing at a found stone being the Southeast Corner of the Northwest Quarter (1/4), Southwest Quarter (SW %), Section Twenty-one (21), Township Sixteen (16) North, Range Thirty (30) West; thence along the Easterly line of said forty (40) acre tract North 02°58'37" East 48.87 feet to the Southeast corner of said Lot Four (4) in said Block Seven (7) being the POINT OF BEGINNING; thence leaving said Easterly line North 87°05'08" West 154.92 feet; thence South 02°56'43" West 3.97 feet; thence North 87°05'08" West 86.41 feet to the property line of parcel no. 765-15035- 000 owned by the City of Fayetteville and being known as Great House Park, said property line being the centerline of the Cato Springs Branch; thence along said centerline the following courses: North 04°39'40" East 135.52 feet; North 21 °26'27" East 139.64 feet; North 51 °54'46" East 50.45 feet; North 51 °54'46" East 25.97 feet; North 88°15'30" East 55.95 feet; South 12°32'43" West 98.00 feet; South 40°59'55" East 61.63 feet; North 51 °47'48" East 70.74 feet to said Easterly line of said forty (40) acre tract; thence along said Easterly line South 02°58'37" West 224.08 feet to the Point of Beginning, having an area of 1.342 acres, more or less. Subject to easements, rights -of -ways, vacations and protective covenants of record, if any.. Washington County, AR I certify this instrument was filed on 08/19/2013 09:30:24 AM and recorded in Real Estate File Number 2013-00028316 Kyle Sylvester - Circuit Clerk by