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Home My WebLink About65-20 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 65-20 File Number: 2020-0091 TED AND ROBERTA WILLIS: A RESOLUTION TO APPROVE THE PURCHASE 0.33 ACRES FROM TED A. WILLIS AND ROBERTA G. WILLIS IN EXCHANGE FOR THE CONVEYANCE OF 0.72 ACRES OF CITY -OWNED LAND AND PAYMENT IN THE AMOUNT OF $3,150.00 FOR THE REMOVAL AND RECONSTRUCTION OF THE TOWNSHIP WATER STORAGE TANK WHEREAS, the City owns approximately 1.2 acres of land on which the current water tank is located that has been appraised at $62,700.00; and WHEREAS, the 0.33 acre parcel of land owned by Ted and Roberta Willis that the City wishes to acquire for the construction of a new water storage tank is appraised at $28,750; and WHEREAS, the terms of the offer to purchase the 0.33 acre parcel includes the conveyance of a temporary construction easement which includes a clearing area of about 0.32 acres is $3,150.00 payable to Ted and Roberta Willis. 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 approves the purchase of 0.33 acres of land from Ted A. and Roberta G. Willis in exchange for the conveyance of 0.72 acres of land owned by the City of Fayetteville and payment of $3,150.00 to Ted A. and Roberta G. Willis which is required for the removal and reconstruction of the Township water storage tank. Section 2: That the City Council of the City of Fayetteville, Arkansas hereby authorizes Mayor Jordan Page 1 Printed on 2119120 File Number. 2020-0091 Resolution 65-20 to sign a Warranty Deed and any other documents necessary to effectuate the purchase and sale authorized by this Resolution. PASSED and APPROVED on 2/18/2020 Attest: \-ER.K ��,•. CITy ••F`�,� Kara Paxton, City Clerk Treasigero F ��'��' cy • Elrj • � f ` %y��j:•.r�NSAS Page 2 Printed on 2/19/20 City of Fayetteville, Arkansas -, - Text File File Number: 2020-0091 Agenda Date: 2/18/2020 Version: 1 In Control: City Council Meeting Agenda Number: A. 3 TED AND ROBERTA WILLIS: 113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Status: Passed File Type: Resolution A RESOLUTION TO APPROVE THE PURCHASE 0.33 ACRES FROM TED A. WILLIS AND ROBERTA G. WILLIS IN EXCHANGE FOR THE CONVEYANCE OF 0.72 ACRES OF CITY -OWNED LAND AND PAYMENT IN THE AMOUNT OF $3,150.00 FOR THE REMOVAL AND RECONSTRUCTION OF THE TOWNSHIP WATER STORAGE TANK WHEREAS, the City owns approximately 1.2 acres of land on which the current water tank is located that has been appraised at $62,700.00; and WHEREAS, the 0.33 acre parcel of land owned by Ted and Roberta Willis that the City wishes to acquire for the construction of a new water storage tank is appraised at $28,750; and WHEREAS, the terms of the offer to purchase the 0.33 acre parcel includes the conveyance of a temporary construction easement which includes a clearing area of about 0.32 acres is $3,150.00 payable to Ted and Roberta Willis. 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 approves the purchase of 0.33 acres of land from Ted A. and Roberta G. Willis in exchange for the conveyance of 0.72 acres of land owned by the City of Fayetteville and payment of $3,150.00 to Ted A. and Roberta G. Willis which is required for the removal and reconstruction of the Township water storage tank. Section 2: That the City Council of the City of Fayetteville, Arkansas hereby authorizes Mayor Jordan to sign a Warranty Deed and any other documents necessary to effectuate the purchase and sale authorized by this Resolution. City of Fayetteville, Arkansas Paye 1 Printed on 2119/2020 Tim Nyander Submitted By City of Fayetteville Staff Review Form 2020-0091 Legistar File ID 2/18/2020 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item 1/27/2020 WATER SEWER (720) Submitted Date Division / Department Action Recommendation: Staff recommends approval of a Resolution to convey 0.72 acres of land owned by the City to Ted Willis and to accept 0.33 acres in order to facilitate the removal and reconstruction of the Township water storage tank. Budget Impact: 5400.720.5600-5808.00 Water and Sewer Account Number 12009.1 Project Number Fund Water System Rehabilitation Budgeted Item? Yes Current Budget Funds Obligated Current Balance Does item have a cost? Yes Item Cost Budget Adjustment Attached? No Budget Adjustment Purchase Order Number: Change Order Number: Original Contract Number: Comments: Remaining Budget Project Title $ 8,162,775.00 $ 200,061.22 $ 7,962,713.78 $ 3,150.00 $ 7,959,563.78 V20180321 Previous Ordinance or Resolution # Approval Date: - CITY OF FAYETTEVILLE ARKANSAS MEETING OF FEBRUARY 18, 2020 TO: Mayor and City Council THRU: Susan Norton, Chief of Staff Tim Nyander, Utilities Director FROM: Corey Granderson, Utilities Engineer DATE: January 27, 2020 CITY COUNCIL MEMO SUBJECT: Approval of a Resolution to convey 0.72 acres of land owned by the City to Ted Willis and to accept 0.33 acres in order to facilitate the removal and reconstruction of the Township water storage tank RECOMMENDATION: Staff recommends approval of a Resolution to convey 0.72 acres of land owned by the City to Ted Willis and to accept 0.33 acres in order to facilitate the removal and reconstruction of the Township water storage tank. BACKGROUND: The East Service Area Water System Improvements project is in the engineering design phase, and includes the demolition of an aged and undersized water storage tank located north of Township Street at approximately 1044 E. Township St. The tank is located on approximately 1.2 acres of City -owned land, without access to a public street. The tank is accessed through private property, with access easements in place. To physically construct a new tank, and remove the existing tank, and keep this area of town 'in- service', City staff has negotiated a land swap to obtain a more advantageous property for this future water tank. The new tank will be constructed in a different location so that the old tank can remain in service during construction. Once the new tank is online, the old tank can be demolished. DISCUSSION: The City's existing parcel of land has a large wooded area that is inaccessible and unnecessary for future use by the utility and would serve well as a buffer around Mr. Willis' home at 1060 Township Street. The smaller 0.33 -acre area requested by the City is closer to the access drive, and situated strategically for construction of this new tank, while not obstructing the ability for the old tank to be accessed by cranes and large trucks to be taken offline. The City also needs additional Temporary Construction Easements from Mr. Willis on a separate 0.32 -acre area and has agreed to pay $3,150.00 for use and damages based on nearby appraisals. Due to the amount of damage and disturbances, the City has also agreed to re -pave onsite access and driveways at the end of the project. Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 BUDGET/STAFF IMPACT: Funding for this project is available from the Water System Rehabilitation account. Attachments: Site Plan of Tract Split Accepted Offer Letter to Property Owner Property Line Adjustment Survey for Property Line Adjustment Adjacent Property Appraisal 11 T 8! Existing City; �c ,i I :Parcel 0� ow rcl °U u_ �r `u iExistng atelr Tank u CITY OF F'AYETTEVILLE ARKANSAS October 4 2019 Ted A. & Roberta G. Wills 10% E Township Street Fayetteville, AR 72703 RE; ' Township Watpr Tank 765-15987-001 Revised Side Letter & Agreement Dear Mr. and Mrs. Willis; As we have discussed there is a 5nnall parcel on the south side of your property that would be a good location for a new tank and we are prepared to arrange a possible lot split .and trade agreement with you. We are in receipt of your email of August 10, 2019 and have taken 01 your conceals into consideration. i have enclosed an updated drawing showing the proposed ;area of :purchase for the new tank ,site: This drawing includes acreages of the proposed temporary eonstr>U. _ . easements for access and take -clown areas :end ;shows you when: we will be oullding anew driveway into your property, As shown in the exhibit, the now;acres$ driveway alignment shifts north slightly. A "flag" of property has been shown so that you would retain ownership of the automated gate and the driveway due north of the gate. The drawing also includes the apreages of the current tank site as well as tale proposed, as well as. the City of Fayettevlife property to'_ e delivered upon agreemeTlt. The City of Fayetteville has had the adjoining propert appraised recently and based -on that appraisal has determined that the value of the 0,33 acres deemed necQ6sary for tyhe new tank site Is $28,750.00, Sawed on that same appraisal, the properly owned by the City of Fayetteville and0,72 acres, which we hairs offered to you is valued at $ti2,7ftp0, This puts the land .swap in :our favor for $'33,860 00, Additionally, the value of the temporary construction easement which includes a clearing arba of about 0.32 acres Is $3,150.00, which the City will pay to you_ This offer stili stands. Our original letter land rrientioneo paving the remainder of the drive which is approximately 7200 square feet. You have requested the City to pave all of the existing gravel driveway at the completion of this project, At the current rate of $201SY, this will add approximately $27,2,00,00 to the contract. You have also requested '$16,083.76 to upprade your solar energy system, To be upfront, these condil9ons have made the offer lopsided to a point where it Is unlikely it vv11i receive approval as It: rooves forward and through the City Council. i +n!Ill reiterate that the city will bear 500/4 of the financial burden for energy upgrades necessary to offset any disturbances to passive solar heating system to the house due to shadows/obstructions to sunlight. This will reed to be determined by a Sri Party, These are not expected to occur, To su►r Marize the above; the City offers the land swap, the payment fora temporary easement, to repave the dflveway and pave the gravel driveway, and to pay half of -any energy upgrades necessary due to shadows or obstructions causedby the location rtf the new tank should they occur. As stated earlier, the oily will protect the larger trees can your property within the TC_ and save as many as possible, This TC�E will be revegetated and Nrich caliper rees will be planted In the wooded areas nth the exact species and planting plan to be coori�i'nated with yourself, city utilities staff, acid the City urban Forestry staff at the City's expense, Top soil and sod will. be placed in turf areas. During construction, should you decide privacy fencing is necessary north of the new access driveway to the cell towers, the City will coordinate location with you and have the fencing installed as part of the project cost. Thisagreement as with all property agreements/sales involving city properties are subject to City Council approval. This will also require lot split approval. Meiling Address; 113 W. Mountain Street www.fayetteville-argov Fayetteville, AR 72701 ! pity Land agent will be glad to dlsc€�ss this praject and an . concerns you may have ass0e+ated with the easements and arqulsititsn Please contact Holly .tones at �47g} X144-3414 { t �r e r3fa cit +IIo- r.gou) or Brandi Samuels at (4'7g) 444= X429{b a i % y a�vtEi w s ): 1 cr engineering cljestlorrs or cor}eerns, pease contact Corey Granderson, Utilities Enginiera, ;gj_fjgv or Tim Myander,Utilities Director at :s�and�r�fay�tt�vclie r,sas�v, f "� T+rn . yonder eta A. , v is . _ _. . Rbb .- illi ltllities Director TN/hj( DATE, I Enclosures City of Fayetteville Water 4 Sewers 479-575-8386 2 CITY OF FAYETTEVILLE, ARKANSAS PROPERTY LINE ADJUSTMENT FOR STAFF USE ONLY FEE: $200.00 Date Application Submitted: Size of Dale Accepted as Complete: S -T -R: Project Number: PP#: Public Hearing Date: Zone: Please fill out this form completely, supplying all necessary information and documentation to support your request. Your application will not be processed until this information is furnished Application_ Indicate one contact person for this request: X Applicant Representative Applicant (person making request): Representative (engineer, surveyor, realtor, etc.): Name- City of Fayetteville E -mail: Address- 113W. Mountain Street Fayetteville, AR 72701 Phone - Fax Site Address / Location: 1044 E. Township Street Name - E-mail, Address - Phone - ................. Fax - Ile, AR FINANCIAL INTERESTS: The following entities and / or people have financial interest in this project: City of Fayetteville Ted and Roberta Willis January 2020 Page 1 Zoning Assessor's Parcel Numbers for the Size of Size of Resulting Tracts District Properties Parent Tract (acres) acres Tract A RSF 4 765-15988-000 2.64 765-15987-001 0.74 Tract B RSF 4 -000 765-159887-0011 2.64 1.86 Tract C Tract D FINANCIAL INTERESTS: The following entities and / or people have financial interest in this project: City of Fayetteville Ted and Roberta Willis January 2020 Page 1 APPLICANT/REPRESENTATIVE: I certify under penalty of perjury that the foregoing statements and answers herein made all data, information, and evidence herewith submitted are in all respects, to the best of my knowledge and belief, true and correct. I understand that submittal of incorrect or false information is grounds for invalidation of application completeness, determination, or approval. I understand that the City might not approve what I am applying for, or might set conditions on approval. .Name (printed): Date: Signature: PROPERTY OWNER(S) /AUTHORIZED AGENT: I/we certify under penalty of perjury that I am/we are the owner(s) of the property that is the subject of this application and that I/we have read this application and consent to its filing. (If signed by the authorized agent, a letter from each property owner must be provided indicating that the agent is authorized to act on his/her behalf.) Owners of each parcel being adjusted must sign this application. Owners (attach additional info if necessary): Name (printed): �&' j Signature: Date:�2-�/�Zc� Name (rinted b 6eq l �S Si nature;; �--�✓ { Date: i 1 `ts7 Address: Phone: Address: Phone: ( ) Address: 113W. Mountain St. Fa etteville, AR 72701 Phone: (479) 575-8330 �� GLEI?AS k F• �J 0 Y '0; January 2020 Application Checklist Attach the following items to this application (1) Payment in full of applicable fees for processing the application ($200.00). (2) Correspondence in the form of a written letter to Planning Staff describing the scope, nature and intent of the proposal. (3) One (1) hard copy and one (1) digital copy in PDF of the signed application, correspondence letter and the survey of the property showing all required information for a Property Line Adjustment listed on the Plat Requirements checklist in Section 166.02 of the Fayetteville Unified Development Code. These requirements are listed on the Plat Requirements page in this application. Clearly label all original and proposed property lines. (4) If located within the City's Planning Area and this property line adjustment results in a tract(s) of less than 1.5 acres, approval from the Arkansas Department of Health is required allowing for an individual sewage disposal system prior to the property line adjustment application. (5) If located within the City's Planning Area and this property line adjustment results in a tract(s) of less than 1.0 acre, approval from the Washington County Planning Department is required prior to the City accepting this application. Note: In order for the Washington Count), Assessor's Office to officially recognize this property line adjustment on the deed for the property, a Correction -beerl or 61fitclahn, Deed must be filed along with the Property Line Adjustment survey. Please submit this deed with the final, revised copy of the Property Line Adjustment survey plat for City of Fayetteville "Approval for Recording". Jmata,y 2020 OLATRE4UIREMENTS FOR A PROPERTY LINE ADJUSTMENT Rom Section 166.03 of Fa etteville Unified Development Code Name, address, zoning and property lines of all property owners adjacent to the exterior boundaries of the project. Name, address, telephone numbers of owner(s), developer(s) and project representatives A vicinity map of the project with a radius of 1.5 miles from the project. This map shall include any Master Street Plan streets as well as the 100 year flood plain boundary. Street right-of-way lines clearly labeled. The drawing shall depict any future R.O.W. needs as determined by the AHTD and Master Street Plan. Future R.O.W. as well as existing R.O.W. and center lines should be shown and dimensioned. Written legal descriptions including area in square feet or acres that read clockwise for the original and adjusted tracts. (Note: If the project is contained in more than one tract, the legal for each individual tract and a total tract description must be provided.) Boundary survey of the property shown on the plat. The surveyor shall seal, sign and date the survey. The survey shall be tied to state plane coordinates. Point -of -beginning from a permanent well-defined reference point. This P.O.B. shall be clearly labeled on the drawing. Each plat shall have 2 points described in State Planes Coordinates, Arkansas, North, North American Datum, 1983 NAD 83 Existing easements shall show the name of the easement holder, purpose of the easement, and the book and page number for the easement. If an easement is blanket or indeterminate in nature, a note to this effect shall be placed on the plat or plan. Sanitary sewer systems: a. Provide pipe locations, sizes, and types; and service location. b. Manhole locations of rim and invert elevations Water systems, on or near the site: a. Provide pipe locations, types, and sizes; and service location. b. Note the static pressure and flow of the nearest hydrant if requested: c. Show location of proposed fire hydrants and meters. State the width, location, and purpose of all proposed easements or rights of way for utilities, drainage, sewers, flood control, ingress/egress or other public purposes within and adjacent to the project. The location, widths, grades, and names of all existing and proposed streets (avoid using first names of people for new streets), alleys, paths, and other rights -of- way, whether public or private, within and adjacent to the project; private easements within and adjacent to the project; and the radius of each centerline curve. Private streets shall be clearly indicated and named. Names of streets should be approved by the 911 Coordinator, The location of known existing or abandoned water wells, sumps, cesspools, springs, water impoundments, and underground structures within the project. The location of known existing or proposed ground leases or access agreements, if known. (e.g. shared parking lots, drives, areas of land that will be leased) The location and size of existing and proposed signs, if any. Draft of covenants, conditions, and restrictions, if any. Show required building setbacks. Provide a note on the plat of the current setback requirements for the subdivision. A variance is necessary from the Board of Adjustment for proposed setbacks less than those set forth in the zoning district. Any other data or reports as deemed necessary for project review by the Zoning and Development Administrator, City Engineer or Planning Commission. !Signature block certifying ownership, title and dedication. .lannory 2020 . Ill -n .1 �-� - �My V,i>5'< Wl- . Vt /1-1.. S�� cf 1c t—.l Slllll�x - z 01, ta 3-.,42vz,- ,�12z5.3t.tkk 2z 2m., U-SSCN, ... ...... ..... .... .............. I .......... ................ ............. .- ............... ......... TE,do f..EPT. W.—S 72 , n3 113 ST. IM, . ....... . ..... '47 . . . . ........ ...... S* o so r APPRAISAL REPORT 1930 THE JOHN B. WEISS AND MARY K. WEISS PROPERTY LOCATED ALONG THE NORTH SIDE OF TOWNSHIP STREET AND THE EAST SIDE OF SHERWOOD LANE, FAYETTEVILLE, ARKANSAS WASHINGTON COUNTY FOR THE CITY OF FAYETTEVILLE C/O HOLLY JONES LAND AGENT, ENGINEERING DIVISION 125 W. MOUNTAIN STREET FAYETTEVILLE, ARKANSAS 72701 BY 71 REED & ASSOCIATES, INC. 3739 N. STEELE BLVD., SUITE 322 FAYETTEVILLE, ARKANSAS 72703 FILE NO. 6160-1 AS OF August 27, 2018 Real Estate Appraisers — Consultants 3739 N. Steele Blvd., Suite 322. Fayetteville. AR 72703 * 479-521-6313 * Fax.• 479-521-6315 * www.reedannraisal.biz Katie Hampton • .Iordun Kurnes, MAI • .Shannon Mueller • Tom Reed, MAI August 29, 2018 Holly Jones City of Fayetteville Land Agent, Engineering Division 125 W. Mountain Street Fayetteville, AR 72701 RE: The John B. Weiss and Mary K. Weiss Property; 5.31± Acres Located Along The North Side of Township Street And The East Side of Sherwood Lane, Fayetteville, Arkansas; Washington County Dear Ms. Jones: In compliance with your request and for the purpose of estimating the market value of the above captioned property, we hereby certify that we have examined the subject property and made a survey of the matters pertinent to the estimation of its value. We further certify that we have no interest, present or contemplated, in the property appraised, and that our fee was not contingent upon the value estimate reported. The following real property appraisal report contains data gathered in our investigation, information from our files, and shows the method of appraisal in detail. This report is presented under the Appraisal Report Option. This report addresses: the market value of the Whole Property Land Only prior to the City of Fayetteville acquiring 10,890± SF in fee acquisition (proposed tank site), 15,681± SF in permanent access easement, and 47,088± SF in temporary access and construction easement (laydown area and access to tank site) for the Township Tank Site Project, as of August 27, 2018; and, the market value of the Remainder Property Land Only after the City of Fayetteville has acquired the 10,890± SF fee acquisition, 15,681± SF permanent access easement, and 47,088± SF temporary access and construction easement for the Township Water Tank Site Project, as of August 27, 2018. Based on an analysis of relevant data, and contingent on the Assumptions and Limiting Conditions which follow and appear in the Addenda Section of this report, it is our opinion the market value of the fee simple estate of the subject property, as of August 27, 2018, is as follows: WHOLE PROPERTY (LAND ONLY) _ $463,100 REMAINDER PROPERTY (LAND ONLY) _ $418,800 SUBTOTAL = $ 44,300 PLUS: TCE _ $ 7,200 DAMAGE TO MARKET VALUE _ $ 51,500 The preceding values reflect terms equivalent to cash to the owners and represent that for real property only. The following Extraordinary Assumptions are utilized in this report: 1. Subject land size is approximately as indicated in this report. 2. The land area and asphalt paving located within the permanent access easement and temporary access and construction easement will be put back to as near original condition as possible, by the City of Fayetteville; 3. Subject will continue to have adequate ingress/egress to/from Township Street. If any, or all, of these Extraordinary Assumptions prove to be untrue, one or both of the preceding value estimates could be influenced. The reader is referred to additional Assumptions and Limiting Conditions presented in the Addenda Section of this report. A Hypothetical Condition of this appraisal is that the Graham Waterline Improvement Project is complete and in place as of the effective date of this report in estimating the market value of the Remainder Property Land Only. In reality, the Graham Waterline Project was not complete and in place as of August 27, 2018. If this Hypothetical Condition is not considered, the estimated market value of the Remainder Property Land Only could be influenced. The appraisers are invoking the Jurisdictional Exception Rule in this appraisal. The Uniform Standards of Professional Appraisal Practice (USPAP) requires, under Standards Rule 1-2 (c) (iv), "When reasonable exposure time is a component of the definition for the value opinion being developed, the appraiser must also develop an opinion of reasonable exposure time linked to that value opinion." However, the Uniform Appraisal Standards For Federal Land Acquisitions, under Section 1.2.4, states "Appraisers should not link opinions of value under these Standards to a specific opinion of exposure time, unlike appraisal assignments for other purposes under USPAP Standards Rule 1-2 (c)." USPAP states the following under Standards Rule 1-4 (f): "When analyzing anticipated public or private improvements, located on or off the site, an appraiser must analyze the effect on value, if any, of such anticipated improvements to the extent they are reflected in market actions." This appraisal is prepared in conformity to the provisions of the "Uniform Act" and its implementing regulation 49 CFR Part 24. The 49 CFR Part 24 regulation requires appraisers to disregard any decrease or increase in the market value of the property that has been caused directly by the project in the "Before Acquisition Value" appraisal. This is considered a Jurisdictional Exception. In addition, General Benefits as a result of the project have not been considered in the valuation of the Remainder Property based on 49 CFR Part 24. Considering USPAP Standards Rule 1-4 (f), this is also considered a Jurisdictional Exception. Sincerely, eo& f ; 0* Katie Reed Hampton, SR 3642 REED & ASSOCIATES, INC. STATE 2")) AV/1 Shannon Reed Mueller, CG2302 REED & ASSOCIATES, INC. �tiuniuurll! _.., �¢�csP�¢Sl 1 CA71Q�,I+I'�iir �atrz.v;• c��P�� •�9d. IIIfI if 11 i 91 ss i t�4��* TABLE OF CONTENTS Title Page - - - - - - - - - - 1 Letter Of Transmittal - - - - - - - - - 2-4 Table Of Contents - - - - - - - - - 5 Certificate - - - - - - - - - - 6-8 Summary Of Salient Facts And Conclusions - - - - - 9-10 Scope Of Work - - - - - - - - - 11 General Data - - - - f - - - - - - 12 Summary Of The Appraisal Problem - - - - - - - 13 Neighborhood - - - - - - - - - - 13 Legal Description - - - - - - - - - 1.4-15 Narrative Description - - - - - - - - - 15-17 Zoning Regulations And Restrictions- - - - - - - 17 Assessment And Tax Data - - - - - - - - 17 Highest And Best Use- - - - - - - - - 18-20 Appraisal Process - - - - - - - - - 21-22 Sales Comparison Approach — Whole Property Land Only & Remainder Property Land Only - - - - - - 23-25 Reconciliation Of Approaches - - - - - - - 26 ADDENDA Definitions Area Map Area Data Aerial Photograph Subject Photographs Flood Zone Location Map Assessment Records Deed Records Legal Descriptions - Acquisition Exhibit Comparable Land Sales Map Comparable Land Sales Assumptions and Limiting Conditions Qualifications of the Appraisers 5 CERTIFICATE • The statements of fact contained in the report are true and correct. • The reported analyses, opinions, and conclusions are limited only by the reported assumptions, limiting conditions, and legal instructions, and are the personal, unbiased professional analysis, opinions, and conclusions of the appraisers. • The appraisers have no present or prospective interest in the property appraised and no personal interest or bias with respect to the parties involved. • The compensation received by the appraisers for the appraisal is not contingent on the analyses, opinions, or conclusions reached or reported. • The appraisal was made and the appraisal report prepared in conformity with the Uniform Relocation Assistance and Real Property Acquisition for Federal and Federally -Assisted Programs; Final Rule. • The appraisal was made and the appraisal report prepared in conformity with the Appraisal Foundation's Uniform Standards of Professional Appraisal Practice, except to the extent that the Uniform Appraisal Standards for Federal Land Acquisitions required invocation of USPAP's Jurisdictional Exception Rule, as described in Section 1.2.7.2 of the Uniform Appraisal Standards For Federal Land Acquisitions. • I, Shannon Mueller, have made a personal inspection of the property that is the subject of this report.. • 1, Katie Hampton, have made a personal inspection of the property that is the subject of this report. • The property owner was given the opportunity to accompany the appraisers on the property inspection. • No one provided significant professional assistance to the appraisers. • We, certify that, to the best of our knowledge and belief, the reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and the Standards of Professional Appraisal Practice of the Appraisal Institute. • The use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives. • As of the date of this report, I, Katie Hampton, have completed the Standards and Ethics Education Requirement for Practicing Affiliates of the Appraisal Institute. • As of the date of this report, I, Shannon Mueller, have completed the Standards and Ethics Education Requirement for Candidates of the Appraisal Institute. • We have performed no services, as appraisers or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. • Based upon analysis of relevant data and contingent upon the Assumptions and Limiting Conditions which follow and appear later in this report, it is our opinion the market value of the fee simple interest in the subject property, as of August 27, 2018, was as follows: WHOLE PROPERTY (LAND ONLY) _ $463,100 REMAINDER PROPERTY (LAND ONLY) _ $418,800 SUBTOTAL = $ 44,300 PLUS: TCE _ $ 7,2-0-0- DAMAGE ,200DAMAGE TO MARKET VALUE _ $ 51,500 The preceding values reflect terms equivalent to cash to the owners and represent that for real property. The following Extraordinary Assumptions are utilized in this report: 1. Subject land size is approximately as indicated in this report. 2. The land area and asphalt paving located within the permanent access easement and temporary access and construction easement will be put back to as near original condition as possible, by the City of Fayetteville; 3. Subjectwill continue to have adequate ingress/egress to/from Township Street. If any, or all, of these Extraordinary Assumptions prove to be untrue, one or both of the preceding value estimates could be influenced. The reader is referred to additional Assumptions and Limiting Conditions presented in the Addenda Section of this report. A Hypothetical Condition of this appraisal is that the Graham Waterline Improvement Project is complete and in place as of the effective date of this report in estimating the market value of the Remainder Property Land Only. In reality, the Graham Waterline Project was not complete and in place as of August 27, 2018. If this Hypothetical Condition is not considered, the estimated market value of the Remainder Property Land Only could be influenced. The appraisers are invoking the Jurisdictional Exception Rule in this appraisal. The Uniform Standards of Professional Appraisal Practice (USPAP) requires, under Standards Rule 1-2 (c) (iv), "When reasonable exposure time is a component of the definition for the value opinion being developed, the appraiser must also develop an opinion of reasonable exposure time linked to that value opinion." However, the Uniform Appraisal Standards For Federal Land Acquisitions, under Section 1.2.4, states "Appraisers should not link opinions of value under these Standards to a specific opinion of exposure time, unlike appraisal assignments for other purposes under USPAP Standards Rule 1-2 (c)." USPAP states the following under Standards Rule 1-4 (f): "When analyzing anticipated public or private improvements, located on or off the site, an appraiser must analyze the effect on value, if any, of such anticipated improvements to the extent they are reflected in market actions." This appraisal is prepared in conformity to the provisions of the "Uniform Act" and its implementing regulation 49 CFR Part 24. The 49 CFR Part 24 regulation requires appraisers to disregard any decrease or increase in the market value of the property that has been caused directly by the project in the "Before Acquisition Value" appraisal. This is considered a Jurisdictional Exception. In addition, General Benefits as a result of the project have not been considered in the valuation of the Remainder Property based on 49 CFR Part 24. Considering USPAP Standards Rule 1-4 (f), this is also considered a Jurisdictional Exception. Sincerely, Katie Reed Hampton, SR3642 REED & ASSOCIATES, INC. `. STATE Shannon Reed Mueller, CG2302 REED & ASSOCIATES, INC. SUMMARY OF SALIENT FACTS AND CONCLUSIONS FILE NO.: 6160 PROJECT: TOWNSHIP TANK SITE COUNTY: WASHINGTON LOCATION: North side of Township Street, east side of Sherwood Lane, Fayetteville CLIENT: City of Fayetteville FEE OWNER: John B. & Mary K. Weiss ADDRESS: 968 E. Township Street, Fayetteville, AR Area Of The Whole: 5.31± ACS, or 231,513±SF Temporary Access & 47,088± SF Fee Title: Construction Easement & $ Temporary Construction Value Of Improvements Acquired: Easement: Area Of Remainder: 5.06± ACS, or 220,623±SF Permanent Access Easement 15,681± SF Area Of Acquisition: 0.25± AC, or 10,890± SF HIGHEST AND BEST USE: Whole Property Residential development, as demand dictates, and in conformity to RSF-4 zoning requirements and the Market Area. Remainder Property Residential development, as demand dictates, and in conformity to RSF-4 zoning requirements and the Market Area. ESTIMATED FAIR MARKET VALUE OF THE PROPERTY Before Land: 231,513± SF $ 463,100 Improvements: NA $ Total: $ 463,100 After Land: 220,623± SF $ 418,800 Improvements: NA $ Total: $ 418.800 FAIR MARKET VALUE OF ACQUISITION: $ 44,300 Plus: TCE $ 7,200 Total Compensation as of: August 27, 2018 $ 51,500 ACQUISITION COMPENSATION: Permanent Easement: 9,021± SF @ $1.00/SF (Rounded) $ 22,500 6,660± SF @ $2.00/SF (Rounded) Temporary Construction Easement: 47,088± SF @ $1.90/SF (Rounded) $ 7,200 Fee Title: 10,890± SF @ $2.00/SF (Rounded) $ 21,800 Value Of Improvements Acquired: $ Cost To Cure Items: NA $ Damage To Remaining Property: NA $ Total Compensation: As Of August 27, 2018 $ 51,500 0 Sp7E j RF 1eo, 5T BRED Katie Reed Hampton, SR3642� rsR� Reed & Associates, Inc. Date Of Report: August 29, 2018 E Shannon Reed Mueller, CG2302 Reed & Associates, Inc. SCOPE OF WORK The "Valuation Process" was applied in estimating the market value of the Whole Property Land Only and the market value of the Remainder Property Land Only. Katie Hampton inspected the subject property on August 27, 2018. Shannon Mueller inspected the subject property on August 28, 2018. Photographs of the property were taken on August 27, 2018, by Katie Hampton. The legal description of the property was obtained from Deed Records. The land size of the property was estimated based on the legal description. Applicable property tax data was obtained from Washington County Assessment Records. The history of the property was also researched through Washington County Assessment Records. The highest and best use of the Whole Property was determined based upon location, physical characteristics, zoning, etc. The highest and best use of the Remainder Property was also determined based upon location, physical characteristics, and zoning. Each of three accepted valuation methods has been addressed in this report; however, only the Sales Comparison Approach has been applied. The property basically represents vacant land with the exception of asphalt paving. The asphalt paving is not valued in this report, as it is not considered to be adversely affected by the acquisitions. As a result of not having improvements which are adversely affected by the acquisition area, and considering that land rentals are not typically the basis on which properties of the subject nature are purchased and sold in this Market Area, the Cost and Income Capitalization Approaches are not utilized in this valuation assignment. Application of the Cost and Income Capitalization Approaches was not considered necessary to produce credible appraisal results for the subject property. In the Sales Comparison Approach, comparable sales were presented and analyzed for comparison purposes to the subject property land only. The unit of comparison was price per square foot (SF) of land area. The sales were compared to the subject property land only, and adjustments made for differences. The per SF value of subject was estimated from within the adjusted range of the comparables, and was multiplied by the subject land square footage to arrive at the indicated market value of the subject property land only by the Sales Comparison Approach. The Sales Comparison Approach was applied to both the Whole Property Land Only and the Remainder Property Land Only. The estimated Damage To Market Value as a result of the acquisition was determined by subtracting the market value of the Remainder Property Land Only from the market value of the Whole Property, Land Only. GENERAL DATA MARKET VALUE CONCEPT Market Value is the amount in cash, or on terms reasonably equivalent to cash, for which in all probability the property would have sold on the effective date of value, after a reasonable exposure time on the open competitive market, from a willing and reasonably knowledgeable seller to a willing and reasonably knowledgeable buyer, with neither acting under any compulsion to buy or sell, giving due consideration to all available economic uses of the property."] PURPOSE OF APPRAISAL The purpose of this appraisal is to estimate the Market Value of the within described property including all damages and/or benefits, if any, to the extent that benefits are allowed under State Law, to the remaining property as just compensation for the property taken, as of the effective date. INTENDED USE OF APPRAISAL The intended use of the appraisal report is to assist the client in the determination of the amount paid for the property rights acquired or conveyed. There is the potential that this appraisal report could also be utilized in litigation proceedings. INTENDED USERS OF APPRAISAL REPORT The intended users of the appraisal report are the City of Fayetteville and John and Mary Weiss. PREMISE AND LIMITING CONDITIONS This appraisal is predicated on the premise that: 1. The sketch map, construction plans, and/or tract descriptions furnished the appraisers by the client are correct. 2. The attached public records are correct and reflect the fee owner and all holders of less than fee interests in the property. 3. Information, date, estimates and opinions contained in this report were obtained from sources considered reliable; however, no liability for them can be assumed or guaranteed by these appraisers. Additional Assumptions and Limiting Conditions are presented in the Addenda Section of this report. Also, please see the Extraordinary Assumptions, Hypothetical Condition, and Jurisdictional Exceptions. Interagency Land Acquisition Ca ference, Uniform Appraisal Stcatdards For Federal Land Acgnisilions (C17icago: Appraisal lnslitute, 2016) P. 11. 12 SUMMARY OF APPRAISAL PROBLEM The appraisal problem in this valuation assignment is to: estimate the market value of the Whole Property, Land Only, prior to the acquisition of 10,890± SF in fee acquisition (new tank site), 15,681± SF in permanent access easement (50' easement and 30' easement), and 47,088± SF in temporary access and construction easement (lay down area and access) for the Township Tank Site Project, as of August 27, 2018; and, the market value of the Remainder Property Land Only after the City of Fayetteville has acquired the 10,890± SF fee acquisition, 15,681± SF permanent access easement, and 47,088± SF temporary access and construction easement for the Township Water Tank Site Project, as of August 27, 2018. This date represents the date of inspection of the subject property. An acquisition exhibit and legal descriptions of the acquisition are included in the Addenda Section of this report. In arriving at the market value of the Whole Property Land Only and the market value of the Remainder Property Land Only, the Sales Comparison Approach is applied. The Cost and Income Capitalization Approaches are not applied for reasons previously discussed. Application of the Cost and Income Capitalization Approaches is not considered necessary to produce credible appraisal results for the subject property. Comparable sales are presented in the Addenda Section of this report. NEIGHBORHOOD A neighborhood is defined as follows: "1. A group of complementary land uses; a congruous grouping of inhabitants, buildings, or business enterprises. 2. A developed residential super pad within a master planned community usually having a distinguished name and entrance. "2 The subject project is positioned along Township Street, in the City Limits of Fayetteville, Arkansas. The project area, in general, is primarily characterized by residential uses. Numerous single- family residential uses are located in this area. The immediate neighborhood (project area) is near 75%± built-up. The area appears to be in the growth stage of its life cycle and is considered to have good market appeal. 2 .4ppraisal Institute, The Dictionan, of Real Estate Appraisal —.Sixth Edition, (Chicago. Appraisal Institute, 2015), P. 156. 13 LEGAL DESCRIPTION The legal description of the subject property is presented in the Addenda Section of this report. Tract 1: Part of the SE 114 of the SE 1/4 of Section 35, Township 17 North, Range 30 West of the 5th P.M., Washington County, Arkansas, more particularly described as follows, to - wit: Beginning at a point which is 200 feet East of the SW corner of the above described forty acre tract, and running, thence East 50 feet; thence North 250 feet; thence East 104.5 feet; thence North 575 meet; thence West 218 feet; thence South 160 feet; thence West 136.5 feet; thence South 415 feet; thence East 200 feet; thence South 250 feet to the point of beginning, less and except 25 feet of equal and uniform width off the South end of said tract lying and being in the public road. Tract 2: Part of the E 112 of the SE 1/4 of Section 35, Township 17 North, Range 30 West of the 5th P.M., Washington County, Arkansas, more particularly described as follows: Beginning at a point 665 feet North of the SW corner of said 80 acre tract, and running, thence East 136.5 feet; thence North 160 feet; thence West 136.5 feet; thence South 160 feet to the place of beginning, containing 1/2 acre, more or less. Tract 3: Part of the SE 1/4 of the SE 1/4 of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, and being more particularly described as .follows: Beginning at a point 354.5 feet East and 250 feet North of the SW corner of said forty acre tract, and running, thence North 575 feet; thence East 120 feet; thence South 575 feet; thence West 120 feet, to the point of beginning. LESS AND EXCEPT: A PART OF THE EAST HALF (E1/2) OF THE SOUTHEAST QUARTE It(SE1/4) OF SECTION THIRTY-FIVE (35), TOWNSHIP SEVENTEEN (17) NORTH, RANGE THIRTY (30) WEST, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THF, SOUTHWEST CORNER OF SAID 40 ACRE TRACT, SAID POINT BEING IN TOWNSHIP ROAD AND FROM WHICH AN EXISTING REFERENCE IRON ON THE APPARENT NORTH RIGHT-OF-WAY LINE OF SAID ROAD BEARS N00°00'50"E 25.00 FEET; THENCE N00100'50"E 651.56 FEET TO A SET 1/2" IRON REBAR FOR THE TRUE POINT OF BEGINNING; THENCE S89°57'45"E 236.71 FEET TO A SET 1/2" IRON REBAR AT THE BEGINNING OF A 124.28 FOOT RADIUS CURVE CONCAVE TO THE NORTHWEST; THENCE NORTBEASTERLY 140.68 FEET ALONG SAID CURVE, THE CHORD FOR WHICH BEING N42°02'22"E 133.29 FEET, TO A SET 1/2" IRON REBAR; THENCE N00°38'45"W 43.03 FEET TO A SET 1/2" IRON REBAR AT THE BEGINNING OF A 46.44 FOOT RADIUS CURVE CONCAVE TO THE SOUTHWEST; THENCE NORTHWESTERLY 31.20 FEET ALONG SAID CURVE, THE CHORD FOR WHICH BEING N18054'49"W 30.62 FEET, TO A SET 1/21- IRON /2"IRON REBAR ON THE .SOUTH LINE OF WESTWIND SUBDIVISION, PHASE '11, TO THE CITY OF FAYETTEVILLE, ARKANSAS; THENCE S89°59'00"W 315.51 FEET ALONG THE SOUTH LINE OF SAID SUBDIVISION TO AN EXISTING IRON; THENCE S00000'50"W 170.75 FEET TO THE POINT OF BEGINNING, CONTAINING 1.21 ACRES, MORE OR LESS, WASHINGTON COUNTY, ARKANSAS. THE ABOVE DESCRIBED 1.2.1 ACRE TRACT BEING SUBJECT TO ANY EASEMENTS AND/OR RIGHTS-OF-WAY WHETHER OR NOT OF RECORD. 14 The legal descriptions provided by the City of Fayetteville are presented below: Proposed Tank Site: Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at a point 354.5 feet East and 250 feet North of the SW corner of said forty acre tract and running East 120 feet; thence North 90 feet; thence West 120 feet; thence South 90 feet to the point of beginning, containing 0.25 acres, more or less. Proposed Permanent Access Easement: Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at the point on the North right of way line of Township Street which is 200 feet East and 25 feet North of the SW corner of said forty acre tract; thence North 255.00 feet; thence East 154.5 feet; thence South 30 feet; thence West 104.50 feet; thence South 225 feet; thence West 50.00 feet to the point of beginning, containing 0.37 acres, more or less. Proposed TCE (Laydown area): Part of the SEX of the SE'/ of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at a point East 200 feet and North 250 feet from the SW corner of said forty acre tract; running thence West 120 feet; thence North 150 feet; thence East 120 feet; thence South 150 feet to the point of beginning, containing 0.41 acres, more or less. (note: these are the dimensions as shown on the plat; however, they do not match the square footage or acreage shown so that may need an adjustment.) Proposed TCE with Access to Tank Site: Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at a point 200 feet East and 280 feet of the SW corner of said forty acre tract and running thence North 110 feet; thence East 275 feet; thence South 50 feet; thence West 120 feet; thence South 60 feet; thence West 154.5 feet to the point of beginning, containing 0.53 acres, more or less. NARRATIVE DESCRIPTION Whole Property Subject property is located in the central/north central part of Fayetteville, Arkansas, Washington County. Assessment Records reflect the physical address of the subject property is 942 Township Street; however, this appears to be incorrect. Subject Whole Property is irregular in shape and includes approximately 5.31± acres, or 231,513±SF. The subject property is zoned RSF-4, Residential Single -Family — Four Units Per Acre. The property has approximately 50± feet of frontage along the north right-of-way of Township Street and approximately 404.2 feet of frontage along the east right-of-way of Sherwood Lane. The subject site is not indicated to be located within flood zone area and the topography is considered adequate for development. Please see the flood zone map presented in the Addenda of the report. The subject site is primarily cleared, with the exception of tree covered area in the east portion of the site. This area is estimated to encompass approximately 20% of the site. Access is developed to the subject property, along the south boundary of the site via Township Street. The subject site can also be accessed from Township Street via an access road that extends northerly to the subject M site. A gate is located at this drive. A portion of the subject property is located north of the gate. A single-family residence located to the east of the subject site is accessed via this gate and drive that extends from Township Street. The site is approximately 50' in width along the south portion of the site that fronts Township Street and extends northerly approximately 250 feet. The site then widens into a square shape in the central part of the site. The northeast part of the site is irregular. The subject site represents vacant land, with the exception of asphalt paving. Utilities and services available include telephone, electricity, public water, gas, public sewer, and trash pickup, as well as police and fire protection. The site appears to be encumbered by a permanent easement located in the east portion of the site. This area is indicated to contain approximately 0.35± acre. Acquisition The City of Fayetteville is proposing to acquire approximately 10,890± square feet in fee acquisition for the proposed new tank site. This area is located in the southeast portion of the site in the tree covered "square" portion of the site. The proposed new tank site is approximately 90' x 120', and is near rectangular in shape. The City of Fayetteville is also proposing to acquire approximately 12,632± SF of the site in proposed new 50' permanent access easement and approximately 3,048± SF in proposed new 30' permanent access easement. The 50' access easement is located in the area of the subject site that contains the asphalt drive that extends from Township Street. The proposed 50' permanent access easement is approximately 50' x 255' and is rectangular in shape; however, is narrow and deep. The 30' permanent access easement is located in the south central part of the site, east of the 50' access easement and west of the proposed new tank site. This proposed area is approximately 30' x 104' and encompasses land area. Finally, the City of Fayetteville is proposing to acquire approximately 24,000± SF of the site for a proposed temporary construction easement for lay down area for holding the new tank and all its appurtenances during construction and a 23,088± SF proposed temporary access and construction easement. The 24,000± SF TCE is located in the south central/central part of the site, west of the asphalt drive and encompasses land area. This proposed area is approximately 120' x 150'. The 23,088± SF TCE is located in the south central part of the site and encompasses land area, tree covered land area, and asphalt drive area. Approximately 5100± SF of the 50' proposed permanent access easement is located outside setback area, while approximately 1560± SF of the 30' proposed permanent access easement is located outside setback area. Remainder Property Subject Remainder Property is irregular in shape and includes approximately 5.09± acres, or 221,529±SF. The Remainder Property is zoned RSF-4, Residential Single -Family — Four Units Per Acre. The property has approximately 50± feet of frontage along the north right-of-way of Township Street. The Remainder Property is encumbered by a 50' permanent access easement extending northerly from Township Street and a 30' permanent access easement extending approximately 104' from the 50' permanent access easement to the proposed new tank site. 104 The Remainder Property is mainly cleared; with the exception of tree covered area in the east part of the site. This tree covered area is estimated to encompass approximately 20%± of the site. The Remainder Property is basically unimproved, with the exception of asphalt paving. The Remainder Property includes the same utilities as the Whole Property. Research does not support a negative impact on the Remainder Site due to the presence of the water tank. Details pertaining to research are maintained in the appraisal file. ZONING REGULATIONS AND RESTRICTIONS Subject property is indicated by public records to be located inside the City Limits of Springdale, Arkansas. Zoning data reflects that the subject property is zoned RSF-4, Residential Single -Family — 4 Units Per Acre. The City of Fayetteville RSF-4 zoning documents state: "The RSF-4 Residential district is designated to permit and encourage the development of low density detached dwellings in suitable environments, as well as to protect existing development of these types." Permitted uses in the RSF-4 zoning district include: city-wide uses by right; single-family dwellings; and, accessory dwellings. Conditional uses include: city-wide uses by conditional use permit; public protection and utility facilities; cultural and recreational facilities; government facilities; two-family dwellings; limited business; home occupations; wireless communications facilities; and, cluster housing development. Based on a Property Line Adjustment presented in the Addenda, the setback area along the subject boundaries is 15'. No private Deed Restrictions were noted. ASSESSMENT AND TAX DATA (Ir7fornwtion front the ifi'crshing-ton Com7ly lls°sizssor-'s Recor&) 76545986-000 & 765-15990-040 Appraised Value $166,400 (2017) Assessed Value $33,280 (2017) Taxable Value $33,280 (2017) School District oil Millage Rate .05745 Taxes $1911.93 School District Name Fayetteville The 2017 property tax is due by October 15, 2018. 17 HIGHEST AND BEST USE Highest and Best Use is defined as: "The highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future.113 First, the appraiser should form an opinion of the highest and best use of the land, as if vacant. If the land is improved, the appraiser also forms an opinion of the highest and best use of the property, as improved. In estimating Highest and Best Use, the appraiser goes through essentially four stages of analysis: 1. Physical Possibility - To what uses is it physically possible to put the site in question? 2. Legal Permissibility - What uses are permitted by zoning and deed restrictions on the site in question? 3. Financial Feasibility - Which possible and permissible uses will produce any net return to the owner of the site? 4. Maximum Productivity - Among the feasible uses, which use will produce the highest net return or the highest present worth? "In practice, the test of physical possibility and legal permissibility can be applied in either order, but they both must be applied before the test of financial feasibility and maximum productivity. A use may be financially feasible but this is irrelevant if it is legally prohibited or physically impossible."4 "In the analysis of highest and best use of land as through vacant, the appraiser seeks the answers to several questions: Should the land be developed or left vacant? If left vacant, when would future development be financially feasible? If developed, what kind of improvements should be built? In the analysis of the highest and best use of the property as improved, additional questions must be answered: • Should the existing improvements on the property be maintained in their current state, should they be altered in some manner to make them more functionally efficient, or should they be demolished to create a vacant site for a different use? • If renovation or redevelopment is warranted, when should the new improvements be built?" 5 31nieragency Land Acquisition Conference. Unifor•m,4ppraisal Standards for Federal Land Acquisilions— (Chicago: Appraisal Institute, 2016) P.10 4App-aisallnstinue. The Appraisal of Real Estate — Fourleenih Edition, (Chicago: Appraisal Institule, 2013), P. 335. 5Appraisal Instinae, The Appraisal of Real Estale — Fowleenih Edition. (Chicago: Appraisal Institute. 2013). P. 337. 18 In general, if the value of a property as improved is greater than the value of the land as though vacant, the highest and best use is the use of the property as improved. However, a property's existing use may represent an interim use, which begins with the land value for the new highest and best use and adds the contributory value of the current improvements until the new highest and best use can be achieved. In practice, a property owner who is redeveloping a parcel of land may remove an improvement even when the value of the property as improved exceeds the value of the vacant land. The costs of demolition and any remaining improvement value are taken into consideration in the test of financial feasibility for redevelopment of the land. Likewise, if an improved property has value but may have greater value if modified in some way, the cost of modifying the improvements and the value gained in that modification are accounted for in the determination of highest and best use. Whole Property Subject property is located in the central/north central part of Fayetteville, Arkansas, Washington County. Assessment Records reflect the physical address of the subject property is 942 Township Street; however, this appears to be incorrect. Subject Whole Property is irregular in shape and includes approximately 5.31± acres, or 231,513±SF. The property has approximately 50± feet of frontage along the north right-of-way of Township Street and approximately 404.2 feet of frontage along the east right-of-way of Sherwood Lane. The subject site is not indicated to be located within flood zone area and the topography is considered adequate for development. Please see the flood zone map presented in the Addenda of the report. The subject site is primarily cleared, with the exception of tree covered area in the east portion of the site. This area is estimated to encompass approximately 20% of the site. Access is developed to the subject property, along the south boundary of the site via Township Street. The subject site can also be accessed from Township Street via an access road that extends northerly to the subject site. A gate is located at this drive. A portion of the subject property is located north of the gate. A single-family residence located to the east of the subject site is accessed via this gate and drive that extends from Township Street. The site is approximately 50' in width along the south portion of the site that fronts Township Street and extends northerly approximately 250 feet. The site then widens into a square shape in the central part of the site. The northeast part of the site is irregular. Utilities and services available include telephone, electricity, public water, gas, public sewer, and trash pickup, as well as police and fire protection. The site appears to be encumbered by a permanent easement located in the east portion of the site. This area is indicated to contain approximately 0.35± acre. Physically possible uses of the site are numerous and include those within size and shape limitations. M The subject property is zoned RSF-4, Residential Single -Family — Four Units Per Acre. Uses permitted within the RSF-4 zoning district include: city-wide uses by right; single-family dwellings; and, accessory dwellings. No private Deed Restrictions were found. The physically possible and legally permissible uses of the subject site are those within size and shape limitations, and that comply with RSF-4 zoning requirements. Property uses in the neighborhood are mainly single-family and multi -family in nature. The immediate neighborhood is considered to be in the growth stage of its life cycle. The physically possible and legally permissible use of the subject site, that is also considered to be financially feasible is residential development, subject to size and shape limitations and in conformity to RSF-4 zoning requirements. The subject property is basically unimproved, with the exception of asphalt paving. In our opinion, the highest and best use of the subject property is to develop the property into single-family lots, subject to size and shape limitations, as demand dictates, and in conformity to RSF-4 zoning requirements. Remainder Property Subject Remainder Property is irregular in shape and includes approximately 5.09± acres, or 220,623±SF. The Remainder Property is zoned RSF-4, Residential Single -Family — Four Units Per Acre. The property has approximately 50± feet of frontage along the north right-of-way of Township Street. The Remainder Property is encumbered by a 50' permanent access easement extending northerly from Township Street and a 30' permanent access easement extending approximately 104' from the 50' permanent access easement to the proposed new tank site. The Remainder Property is not located within flood zone area and the topography is considered adequate for development. The Remainder Property is mainly cleared, with the exception of tree covered area in the east part of the site. This tree covered area is estimated to encompass approximately 20%± of the site. The Remainder Property is basically unimproved, with the exception of asphalt paving. The Remainder Property includes the same utilities as the Whole Property. Research does not support a negative impact on the Remainder Site due to the presence of the water tank. Details pertaining to research are maintained in the appraisal file. In our opinion, the highest and best use of the Remainder Property is the same as in the Whole Property. ON APPRAISAL PROCESS When preparing a detailed appraisal for a given property, it is customary appraisal practice to assemble as much information from the market as seems prudent and to utilize this information in three different approaches to the value: the Cost Approach, Sales Comparison (Market) Approach, and the Income Capitalization Approach. If an appraisal problem is such that it can be adequately and reliably addressed without resorting to a traditional three approach appraisal, then in the interest of economy, only the reliable and relevant valuation technique(s) should be used. Often the appraisal problem can be fully addressed with the Sales Comparison Approach. In the Cost Approach, an estimate of the site value is first derived by a comparison of other similar sites which have sold to the subject site by the Sales Comparison Approach. An estimate is then made of the cost of reproducing or replacing the subject improvements at today's costs. From this is deducted the estimated loss of value as a result of Accrued Depreciation, including physical deterioration, functional obsolescence, and external obsolescence. All such estimates of loss of value through Accrued Depreciation are taken from market evidence. The indicated value from this approach is the sum of the site value plus the Depreciated Replacement or Reproduction Cost New of the improvements. The Sales Comparison Approach utilizes the sales of similar properties as the basis for an indication of value for the subject. Direct comparisons are made between the sale properties and the subject on an item -by -item basis in such areas as property rights, financing, conditions of sale, expenditures made immediately after purchase, market conditions, location, physical characteristics, economic characteristics, legal characteristics, and non -realty components of value. Adjustments are made to the sales price of the comparative property to arrive at an indication of what that property would have sold for had it been essentially similar to the subject property. These adjusted sale prices are correlated into an indication of value by this approach. In the Income Capitalization Approach, an estimate is made of the market rent which the subject property might command based on the rental of competitive space. Estimates are also made of the appropriate vacancy/credit loss and expense ratios for the subject based on information developed from similar properties in the market. Thus, an indication of the Net Operating Income which the subject property is capable of producing is developed. An applicable capitalization method and appropriate capitalization rate are developed for use in computations that lead to an indication of value by the Income Capitalization Approach. To arrive at a final value estimate, the three approaches are correlated into a single conclusion of value, based on the approach which has the highest quantity and/or quality of data available, and the one in which the market participant typically has the greatest confidence. EXPLANATION OF APPROACHES: The Sales Comparison Approach was applied in this report in estimating the market value of the Whole Property Land Only and the market value of the Remainder Property Land Only. The Cost Approach was not applied in this report as the subject property includes no improvements which are adversely affected by the acquisition area. 21 The Income Capitalization Approach was not applied in this report due to the subject property including no improvements which are adversely affected by the acquisition area, and as a result land rentals not typically being the basis on which properties of the subject nature are purchased and sold in this Market Area. Application of the Cost Approach and Income Capitalization Approach was not considered necessary to produce credible appraisal results for the subject property. ESTATE APPRAISED: Fee Simple Estate; Permanent Easement; Temporary Construction Easement. These terms are defined in the Addenda Section of this report. HISTORY: Our examination of Washington County Assessment Records revealed no recorded sales of the subject property within the five-year time period preceding the effective date of value in this report. The subject property sold to the current ownership on May 20, 2010, for an indicated $450,000. The transaction was recorded in the Washington County Assessment Records as Instrument No. 2010-15273 and 2010-15274. The subject property was not listed for sale, or under contract to sell, to our knowledge, as of the effective date of this report. CHANGES IN PROPERTY SINCE DATE OF PURCHASE: Changes in the property since the date of purchase were not available to the appraisers. PERSONAL PROPERTY: No personal property is valued in this appraisal report. REAL ESTATE: The real estate valued in this report includes the subject land. COMMENTS: On August 27, 2018, the subject property was inspected by the appraiser. The property owner was not present on the inspection. 22 SALES COMPARISON APPROACH (Whole & Remainder Property Land Only) COMPARISON WITH SUBJECT PROPERTY Sale narratives appear in the Addenda Section of this report. SALE 1 2 3 4 Date of Sale 01/15/2015 04/15/2016 03/14/2018 11/10/2017 Sales Price $312,000 $466,750 $195,000 $184,370 Size t SF 206,039 241,322 87,120 114,563 Unit Price/SF $1.51 $1.93 $2.24 $0 ADJUSTMENT FACTORS Property Rights $0 $0 $0 $0 Financing $0 $0 $0 $0 Conditions of Sale $0 $0 $0 $0 Improvement (s) $0 $0 $0 $0 Market Conditions +$0.15 +$0.19 $0 $0 ADJUSTED $1.66 $2.12 $2.24 $1.61 SALES PRICE Location/Appeal $0 $0 $0 $0 Physical Characteristics Size -$0.02 $0 -$0.29 -$0.16 Shape +$0.33 $0 +$0.32 Legal Characteristics Access Easement $0 $0 $0 +$0.08 INDICATED UNIT $1.97 $2.12 $1.95 $1.85 VALUE EXPLANATION OF ADJUSTMENTS: The unit of comparison is price per square foot of land area. The necessary categories of adjustment are for market conditions, physical characteristics (size and shape), and legal characteristics (access easement). Each of the sales is considered reasonably similar to subject with respect to property rights, financing, conditions of sale, and location/appeal. Sale One is improved with improvements utilized for special-purpose use; however, the listing agent indicated that the improvements did not contribute value to the sale. Market Conditions: The date of sale of the comparable sales is presented in the table above. Comparable Sales Three and Four, are each considered to have occurred during a period of time when market conditions were considered similar to the effective date of the appraisal report. Comparable Sales One and Two are considered to have occurred during a period of time 23 considered inferior to that as of the effective date of this appraisal report. Based on sales analysis each of Sales One and Two are adjusted upward 10% for inferior market conditions. No adjustment is made to Sales Three or Four. Physical Characteristics: With respect to physical characteristics, the necessary categories of adjustment are for size and shape. • Land Size: The subject is larger than each of Sales One, Three, and Four and reasonably similar in size to Sale Two. The tendency in the market is that as land area increases, price per SF decreases, and vice versa; this is for otherwise -similar properties. Sales Analysis supports that as a property's land area approximates doubling, its price/SF decreases about 10%±. Based on this premise, the following downward adjustments are indicated: 1% to Sale One; 13% to Sale Three; and, 10% to Sale Four. No adjustment is given to Sale Two. • Shape: The subject has an irregular shape in the south portion of the site and the northeast portion of the site; however, the main body of the site is square in shape. Each of Sales Two and Three is considered reasonably similar to subject with regard to shape. Each of Sales One and Four is considered to be irregular in shape and is considered inferior compared to subject. This is mainly due to the amount of area each sale has for adequate development compared to the site. Based on Paired Sales Analysis, utilizing Sale Three with Sale Four, indicates that Sale Three is approximately 20% superior to Sale Four in shape. Based on this analysis, each of Sales One and Four are adjusted upward 20% for inferior shape. No adjustment is given to Sales Two and Three. Legal Characteristics: With respect to legal characteristics, the only necessary category of adjustment is for access easement. Sale Four is considered inferior to subject with regard to access easement. Each of Sales One, Two, and Three is considered reasonably similar to subject with regard to access easement. Sale Four is encumbered by a 10' access easement running along the north boundary of the site. Based on Sales Analysis, Sale Four is adjusted upward 5% for inferior access easement. No adjustment is given to Sales One, Two, and Three. CORRELATION OF INDICATED VALUES: The range of adjusted per square foot values is $1.85 to $2.12; the mean of the sales is indicated to be $1.97/SF, while the median is indicated to be $1.96/SF. Sales One and Two are located in closer proximity to subject; however, are older transactions. Sale Two received the lowest net adjustment compared to subject. Sale Three is the most recent transaction. Each of the sales is given consideration. ESTIMATED LAND VALUE: Based on the preceding analysis, the indicated per square foot value of subject Whole Property Land Only, in our opinion, is $2.00. Therefore: WHOLE PROPERTY LAND ONLY: 231,513± SF @ $2.00 = $463,026 Say $463,100 REMAINDER PROPERTY: The Remainder Property consists of approximately 220,623± SF; however, approximately 12,632± SF of the site are encumbered by a 50' permanent access easement. Approximately 5,100± SF of the 12,632± SF easement is located outside setback requirement. Approximately 3,049± SF of the site are encumbered by a 30' permanent access 24 easement. Approximately 1,560± SF of the 3,049± SF easement is located outside setback requirement. 'The damages to the land due to the imposition of an easement can range from 0% to 1.00% of the easement area's fee value. The full impact of an easement acquisition cannot be estimated until the appraiser determines: 1) the loss of present utility; 2) the loss of future utility; 3) the accessory rights to be acquired; and, 4) the obligations of the parties. In our opinion, all of the property owner's bundle of rights of ownership will be lost with respect to the land within the permanent easement acquisition areas that are located outside setback area. Damage is considered at 100% to the fee simple value of the land within the easement located outside setback area. In our opinion, a portion of the property owner's bundle of rights of ownership will be lost with respect to the land within the permanent easement acquisition areas that are located inside setback area. Damage is considered at 50% to the fee simple value of the land within the easement located inside setback area. Therefore: Remainder Property (Land) 204,942E SF @ $2.00 9,021± SF @ $1.00 6,660± SF @ $0.00 220,623± SF @ $1.90 SUMMARY OF ACQUISITION: 10,890± SF Fee Acquisition 9,021± SF PE Inside Setback Area 6,660± SF PE Outside Setback Area Total $409,884 Say $409,800 $ 9,021 $ 0 $418,821 Say $418,800 -10,890± SF @ $2.00 = $21,800 (RND) - 9,021± SF @ $1.00 = $ 9,100 (RND) - 6,660± SF @ $2.00 = $13,400 (RND) _ $44,300 There is also a 24,000± SF TCE and 23,088± SF TCE for the duration of construction. The estimated value of the TCE is calculated as the lease of land for a one-year period. An 8% return is considered applicable: 47,088± SF @ $1.90 @ 8% @ 1 Year = $7,157 Say $7,200 25 RECONCILIATION OF APPROACHES Estimated Value of Whole Tract Before Taking: Cost Approach Not Utilized Income Capitalization Approach Not Utilized Sales Comparison Approach $463,100 Estimated Value $463,100 EXPLANATION: The Sales Comparison Approach is relied upon in arriving at the final value conclusion for the Whole Property Land Only. In the comparison process with subject, the sales required adjustments; however, the adjustments are believed market supported. The overall reliability of the Sales Comparison Approach is considered good. Application of the Cost and Income Capitalization Approaches was not considered necessary to produce credible appraisal results for the Whole Property Land Only. Estimated Value of Remainder After Taking: Cost Approach Not Utilized Income Capitalization Approach Not Utilized Sales Comparison Approach $418,800 Estimated Value $418,800 EXPLANATION: The Sales Comparison Approach is relied upon in arriving at the final value conclusion for the Remainder Property. In the comparison process with subject, the sales required adjustments; however, the adjustments are believed market supported. The overall reliability of the Sales Comparison Approach is considered to be good. Application of the Cost and Income Capitalization Approaches was not considered necessary to produce credible appraisal results for the Remainder Property Land Only. ESTIMATED MARKET VALUE OF PART SOUGHT INCLUDING ALL DAMAGES: Whole Property = $ 463,100 Remainder Property = $ 418,800 Subtotal = $ 44,300 Plus: TCE _ $ 7,200 Damage To Market Value = $ 51,500 Please see the Extraordinary Assumptions and Hypothetical Condition previously presented. 26 ADDENDA 1. Definitions 2. Area Map 3. Area Data 4. Aerial Photograph 5. Subject Photographs 6. Flood Zone Location Map 7. Assessment Records 8. Deed Records 9. Legal Description — Acquisition 10. Township Tank Site Exhibit 11. Comparable Land Sales 12. Comparable Land Sales Map 13. Assumptions and Limiting Conditions 14. Qualifications of the Appraisers 27 DEFINITIONS RETROSPECTIVE VALUE OPINION: "A value opinion effective as of a specified historical date. The terns retrospective does not define a type of value. Instead, it identifies a value opinion as being effective at some specific prior date. Value as of a historical date is frequently sought in connection with property tax appeals, damage models, lease renegotiation, deficiency judgements, estate tax, and condemnation. Inclusion of the type of value with this term is appropriate, e.g., "retrospective market value opinion. "r FEE SIMPLE ESTATE: `Absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. "2 EASEMENT: "The right to use another's land for a stated purpose. ` PERPETUAL EASEMENT: `An easement that lasts forever. "4 TEMPORARY CONSTRUCTION EASEMENT: "An easement granted for a specific purpose and applicable for a specific time period. A construction easement, for example, is terminated after the construction of the improvement and the unencumbered fee interest in the land reverts to the owner. "5 MARKET AREA: "The geographic area in which a property's most direct competitors are located; a subset of the market area. "6 NEIGHBORHOOD: "1. A group of complementary land uses; a congruous grouping of inhabitants, buildings, or business enterprises. 2. A developed residential super pad within a master planned community usually having a distinguished name and entrance. "7 r Appraisal Institute, The Dictionanv of Real Estate Appraisal — Sixth Edition, (Chicago: Appraisallnstn ute, 2015), P. 201. 2 Appraisal Institute, The Dictionan, of Real Estate Appraisal — Sixth Editioin, (Chicago: Appraisallnstitrte, 2015), P. 90. 3 Appraisal Institute, The DictionarZof Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal Institute, 2015), P. 71. 4 Appraisal Institute, The Dictionarj, of Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal Institute, 2015), P. 170 5 Appraisal Institute, The Diclionan, of Real Estate Appraisal — Sixth Edition, (Chicago; Appraisal Institute, 2015), P. 231. 6 Appraisal Institute, The Dictionan, of Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal hnstitrte, 2015), P. 43. 7.4ppraisal Institute, The Dictionary of Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal Institute, 2015). P. 156. HIGHEST AND BEST USE: 1. "The reasonably probable use of property that results in the highest value. The four criteria that the highest and best use must meet are legal permissibility, physical possibility, financial feasibility, and maximum productivity. 2. The use of an asset that maximizes its potential and that is possible, legally permissible, and financially feasible. The highest and best use may be for continuation of an asset's existing use or for some alternative use. This is determined by the use that a market participant would have in mind for the asset when formulating the price that it would be willing to bid. (IVS) 3.[The] highest and most profitable use for which the property is adaptable and needed or likely to be needed in the reasonably near future. (Uniform Appraisal Standards for Federal Land Acquisitions). 118 SEVERANCE DAMAGES: "In condemnation, the loss in value to the remainder in a partial taking of property. Generally, the difference between the value of the whole property before the taking and the value of the remainder after the taking is the measure of the value of the part taken and the damages to the remainder. Note that different regions of the country and different courts may use terms such as consequential damages and severance damages differently. "9 JUST COMPENSATION: "In condemnation, the amount of loss for which a property olvner is compensated when his or her property is taken. Just compensation should put the owner in as good a position pecuniarily as he or she would have been if the property had not been taken. "" COST APPROACH: 'A set of procedures through which a value indication is derived for the fee simple estate by estimating the current cost to construct a reproduction of (or replacement for) the existing structure, including an entrepreneurial incentive or profit; deducting depreciation from the total cost; and adding the estimated land value. Adjustments may then be made to the indicated value of the fee simple estate in the subject property to reflect the value of the property interest being appraised. "11 SALES COMPARISON APPROACH: "The process o[ deriving a value indication for the subject property t?i, comparing sales of similar properties to the property being appraised, identifying appropriate units of comparison, and making adjustments to the sale prices (or unif prices, as appropriate) of the comparable properties based on relevant., market -derived elements of comparison. 77he sales comparison approach may be used to value improved properties, vacant kind, or land being considered as though vacant when an adequate supply of comparable sales is arailahle. "17 S Appraisal Institwe, The Dictiona7Zof Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal Institute, 2015), P. 109. 9 Appraisal h7stituie, The Dictiornan• Of Real Eslale Appraisal — Sixih Edition, (Chicago: Appraisal Institute, 2015), P. 59. 10 ,9ppraisal Institute, The Dictionark of Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal h7stiture, 2015), P. 122. 11 Appraisal Institute, The Dictionmv of Real Eslaie Appraisal — Sixlh Edition, (Chicago: Appraisal Institute, 2015). P. 54. 12 ,9ppraisal I7slitute, The Dictiona7y of Real Estate Appraisal — Sixth Edition, (Chicago: Appraisal Instinue, 2015), P. 207. INCOME CAPITALIZATION APPROACH: "Specific appraisal techniques applied to develop a value indication for a property based on its earning capability and calculated by the capitalization of property income. "" RECONCILIATION: "A phase of a valuation assignment in which two or more value indications are processed into a value opinion, which may be a range of value, a single point estimate, or a reference to a benchmark value "14 13 Appraisal Institute, 77te DiClioiai-of Real E.Ylate Appraisal – Sixth Edition. (Chicago: Appraisal histinue, 2015). P. 115. 14App-aisallnstinae, TheDictionaiyofRealEslale.4ppraisal–SixthEdition, (Chicago:.4ppraisallnstitide, 2015), P. 190. Area Map ,is �nV Noel Ow Jane 20, E:2�ie Rcii;R sculFw;.resteity C-2) Seligman Golden wLei Sulphur Springs BeIn Vista -0 Gateway 0"1 H.Id3 ,[:zLand y 0 Pea Ridge Garfield 0A. G -rove W.w=e E'z Ss Jay C20 Ewc4,a Urbanelle sycarmse f rlayrsitfe Lost Bridge Sprigs 1.04 Eucho Prix Rentowille V91afe. P Rogers Green Forest w 0- 20, ED chplcl ee city Hobbs State Park C.I.rd -,Dm Gentry. az nfill. Lowell 12, Te:A) mif-ty 01 Metalion Kansw - Elm Springsiv (E;D 100 Mppirg, Siloam -14 -rigs Toniflown Springdale Forum QelcS SwinLm CT Pedro is aki CD Jil Alabom 0 Dryfork Joh Hindsville, Marble I I Ctmw,-/ watts (2- D Savoy (g Faye Subject Propertyl @D Fanninalon Kirigstan Commtmrty @ ) Harris DA WPSIOy P. uper WestvMe. GreerzIand Plairle Grove rye ChrivOe aT Lincoln, (B T-) Japlon Durharn. As)Y-4 Wittpr39 C don 1409we West Fork 203 VwU2 CsstehtR 0 01- Peavim Crosses Bmvtwood Hzzef Va!ley 50, Strickler 0- Corrib9 St pout Petliqlaw 05 wl�4 at Mounla n cg, Wlinvlow II Arbaugh Crack 13,dville Lw I AA121 Pant west CIAA) Ozark Notional ForesFore t map Onla C,009!r. AREA DATA The Trade Area includes Washington and Benton Counties in Arkansas, as well as Madison County, Arkansas, and McDonald County, Missouri. The four counties are located in the extreme northwestern part of Arkansas and extreme southwestern part of Missouri, respectively, and make up the Fayetteville -Springdale -Rogers, AR Metropolitan Statistical Area (MSA). This area is bordered by the Oklahoma State line on the west, Newton County (Missouri) on the north, Carroll, Newton and Barry (Missouri) Counties on the east, and Crawford, Franklin and Johnson Counties on the south. The total land area of Benton County is indicated to be 847.36± square miles, Washington County 941.97± square miles, Madison County 834.26± square miles, and McDonald County 539.48± square miles. It should be noted that over 92.50/0± of the population of the MSA is located in Washington and Benton Counties. As a result, this Area Data analysis primarily pertains to Washington and Benton Counties in Arkansas. The value of real property reflects and is influenced by the interaction of basic forces that motivate human activity. These forces are divided into four major categories: Social trends; Economic circumstances; Governmental controls and regulations; and, Environmental conditions. These forces exert pressure on human activities and are also affected by these activities. The interaction of all the forces influences the value of every parcel of real estate in the market. Social Forces: Social forces are exerted primarily through population characteristics. The demographic composition of the population reveals the potential, basic demand for real estate services. Based on data released by the U.S. Census Bureau, the 2000 Census indicated populations for Benton and Washington Counties of 153,406 and 157,715, respectively; the total for the two counties was 311,121. The population of the two -county area as of 2010 was 424,404, with Benton County reflecting a total of 221,339 and Washington County a total of 203,065. The growth between 2000 and 2010 is indicated to be 36.4%±, or 3.64%± per year. The estimated 2017 populations of Benton and Washington Counties, based on State & County QuickFacts published by the U.S. Census Bureau, were 266,300± and 231,996±, respectively, or a total of 498,296±. The growth between 2010 and 2017 is estimated to be 17.4%±, or 2.49%± per year The U.S. Census Bureau data reflected the population of the MSA as of 2010 to be 463,204. The estimated 2017 population of the MSA, based on State & County QuickFacts, was 537,463±; this reflects an estimated growth of 16.03%±, or 2.29%± per year, for the MSA between 2010 and 2017. The estimated 2016 population of the MSA was reported to be 525,032; this reflects a 2.4% growth in population between 2016 and 2017. According to the U.S. Census Bureau data, the Fayetteville -Springdale -Rogers MSA represents the 14th fastest growing metropolitan area in the United States. The following is a summary of population data for .Benton County, Washington County, and the Fayetteville -Springdale -Rogers MSA: Ioca10 3 2000 2010-.- 2000-2010% .. ==�Incrcak ', July 2017 Estimate 2010-2017% increase Benton County 153,406 221,339 44.3% 266,300 20.3% Washington County 157,715 203,065 28.8% 231,996 14.2% LF -S -R MSA 349,562 463,204 32.5% 537,463 16.03% The following chart reflects the population trend in the Fayetteville -Springdale -Rogers MSA since 1990: Fayetteville -Springdale -Rogers MSA Population 525,000 475,000 425,000 373)000 325,000 275;000 225;000 pOpH� � [b7 pNp O /1 Source: U.S. Census Within Benton County, there are a total of 1.8± incorporated towns and cities. Bentonville is the County Seat of Benton County. This city is located in the northern part of the county. Bentonville had a population of 19,730 in 2000, a 75.3%± increase since 1990. The 2010 population was indicated to be 35,301, a 78.9%± increase from 2000. The 2017± population estimate was indicated to be 49,298±. The growth between 2010 and 2017 (estimate) was indicated to be 39.7%±, or 5.71/of per year. Rogers is the largest city in Benton County, and is located to the south and east of Bentonville. Its 2000 population of 38,829 reflects a 57.20/0± increase since 1990. The 2010 population was indicated to be 55,964, a 44.1%± increase fi-orn 2000. The 2017.population estimate was indicated to be 66,430±. The growth between 2010 and 2017 (estimate) was indicated to be 18.7%±, or 2.71/o± per year. Siloam Springs, located on the Oklahoma line in the southwestern part of the county, is the third major city in Benton County. It grew fi-om a population of 10,843 in 2000 to .15,039 in 2010, a 38.7%± increase. The 2017 population estimate was indicated to be 16,842±; this would reflect population growth of 12%± since 2010. Some of the smaller cities and towns in Benton County include Gently, Gravette, Pea Ridge, Lowell, Centerton, Decatur, Cave Springs, Bella Vista, etc. The City of Centerton is located west of Bentonville, and is considered a "bedroom" community. The 2000, 2010, and 2017 (estimate) populations of Centerton were reported to be 2,146, 9,515, and 14,001, respectively. This would indicate population growth of 343.41/o± between 2000 and 2010, and 47.1%± between 2010 and 2017 (estimate). The City of Lowell is located in the southern part of Benton County, just south of Rogers. The 2000, 2010, and 2017 (estimate) populations of Lowell were reported to be 5,013, 7,327, and 9,215, respectively. This would indicate population growth of 46.21/o± between 2000 and 20.10, and 25.8%± between 2010 and 2017 (estimate). There are a total of 13± incorporated cities and towns within Washington County. Fayetteville is the County Seat of Washington County. This city is located in the north -central part of the county. Fayetteville had a population of 58,047 in 2000. This represented a 37.9%± increase since 1990. The 2010 population was indicated to be 73,580, an increase of 26.8%± from 2000. The 2017 population estimate was indicated to be 85,257±. The growth between 2010 and 2017 (estimate) was indicated to be 15.91/o±, or 2.31/o± per year. Fayetteville is also the largest city in Washington County. Springdale is the second largest city in Washington County, and is located north of Fayetteville. The northern part of Springdale actually extends into Benton County. Springdale had a population of 45,798 in 2000. This represented a 53.0%± increase since 1990. The 2010 population was indicated to be 69,797, an increase of 52.40/0± fi-om 2000. The 2017 population estimate was indicated to be 79,599±. The growth between 2010 and 2017 (estimate) was indicated to be 14%±, or 2%± per year. Some of the smaller cities in Washington County include Prairie Grove, Lincoln, Farmington, West Fork, Johnson, Elm Springs, etc. A small part of Elm Springs is also located in Benton County. The following illustration displays the estimated 2016 population concentrations in the Fayetteville -Springdale -Rogers MSA: 8ramon Ylnt Q -0 ,• l:_ E4:l bac 4IY eY' � FOp:hGon LZa35) - -- - -• .rte:. :! `�.. _ ,, ?4. _ wrv< s_ � �1 6m3Mat E,S2a..6K s. t Cr nPonuN�' C C, W -24K " V'n 1 O 24r,- 32K 1 Marthpt 'O 3 -'X. -40K G Vaky Ste! 10K.-46K( tvuare ,.P aTY w ik �>3L3Rf1 10, [» ' A, nm OL W., C.d Source: Northwest Arkansas Council The following table reflects population changes for the major cities in the Fayetteville - Springdale -Rogers MSA since 2000: 20W-201""Oo.1u1%20 a7 2k0,10 2017% �uTnCl'C tic Fayetteville 58,047 73,580 26.8% 85,257 15.9% Springdale 45,798 69,797 52.4% 79,599 14.0% Rogers 38,829 55,954 44.1% 66,430 18.7% Bentonville 1 19,730 35,301 78.9% 49,298 39.7% Lowell 5,013 7,327 46.2% 9,215 25.8% Centerton 2,146 9,515 343.4% 14,001 47.1% Siloam Springs 10,843 15,039 38.7% 16,842 12.0% Source: U.S. Census As previously indicated, the Fayetteville -Springdale -Rogers MSA is reported to be the 14th fastest growing MSA in the country. Population growth in the Benton -Washington County area is considered to be moderately to rapidly increasing. This trend is expected to continue for the foreseeable future. The major cities in Benton County have typically experienced higher population growth rates than the major cities in Washington County. It should be noted that the rate of growth has declined from what appears to have been the peak period in the early/mid 2000-2010± time period. The rate of population growth declined during the mid/late 2000- 2010± time period; however, still continued to increase at a moderate pace. The declining population growth rate was likely the result of the recent "Great Recession". Oversupply issues in the real estate market that became highly visible in the mid part of the past decade, as well as deterioration in overall economic conditions, had an adverse impact on population growth. The country officially went into a recession in December 2007. The recession officially ended in June 2009; however, consumer sentiment did not necessarily support this. Economic conditions have improved since 2010±, and the real estate market has followed with significant improvement since 2012±. Social forces, particularly area population growth, are considered to have a positive effect on real property values in Benton and Washington Counties. Economic Forces: Economic forces are also significant to real property values. It is necessary to analyze the fundamental relationships between current and anticipated supply and demand and the economic ability of the population to satisfy its wants, needs, and demands through its purchasing power. The following chart represents Non -Farm .Employment Growth (not seasonally adjusted) for the Fayetteville -Springdale -Rogers MSA since 2000: Fayetteville -Springdale -Rogers MSA Non -Farm Payroll Jobs (Annual Average) 260,000 230,000 200,000 170,000 140,000 110,000 80,000 50,000 20,000 -10,000 4, ti°°� titi L ti°y1 ti°1n, L°13 ti°ya ti°yh ti°,� ti°y� ■ No. Employed ■Annual Growth Source: United States Department of Labor- Bureau of Labor Statistics As previously indicated, the country was officially in a recession between December 2007 and June 2009. This recession, referred to as the "Great Recession", lasted 18 months. The previous longest recorded recessions since the Great Depression, the 1973-75 recession and the 1981-82 recession, each lasted 16 months. The Great Depression lasted 43 months. The recessions in 1991 and 2001 each lasted 8 months. The recession obviously impacted the rate of job growth in the Fayetteville -Springdale -Rogers MSA. While the United States experienced negative year-on-year non-farm employment growth through all of 2008, the Fayetteville -Springdale -Rogers MSA remained positive through the first half of the year. However, non-farm employment numbers (year-on-year) turned negative in the MSA in mid -2008±, and remained negative throughout 2009. The unemployment rate in the Fayetteville -Springdale -Rogers MSA peaked in 2010, with an annual average of 6.5%. In May 2010, non-farm employment numbers (year-on-year) turned positive and have remained positive through the latest recorded data researched, which was April 2018 Non-farm employment numbers in August 2017 were approximately 22.0%± greater than in August 2007 and 2008. The civilian labor force in Benton County averaged 132,763 for the year 2017. Washington County averaged 122,626 for the same time period. The civilian labor force for May 2018 was reported at 134,274 for Benton County and 124,156 for Washington County. In 2017, Benton County's unemployment rate averaged 2.9%, while Washington County's rate averaged 2.4%. The May 2018 unemployment rates for Benton and Washington Counties were indicated to be 2.7% and 2.5%, respectively. The May 2018 unemployment rates for the United States, State of Arkansas, and the Fayetteville -Springdale -Rogers MSA were 3.8%, 3.8%, and 2.6%, respectively. All of the preceding rates represent non -seasonally adjusted rates. The following illustration displays the estimated 2016 labor force concentrations in the Fayetteville -Springdale -Rogers MSA: Vn G 0 !� ,y,ji�_. CIiY � �" IiOeY Futt Sla:ua (22161 fn . v IJE.Y Y:nca ' 11i `} 3 -'s J. --• - - 'T •Vetere �� @tenim6U:Y teed iOE ( � ]a1+ N mttn Fueat Otrw 1&C -20K h+YNwy� 0 20M -2J[ %yJl�Yi �i Neq COE 4/ Source: Arorthwest Arkansas Council J I.W NaM L 1Af:li��e.l .vQ iiap' Lt Star Ak�tl — The Northwest Arkansas Area has been recognized by national publications, economists, and researchers for its economy, businesses, and quality of life. The following reflects several recent recognitions: • U.S. News and World Report ranked Northwest Arkansas 5th nationally on its 2018 ranking of the "Best Places to Live" list (also ranked 5th in 2017); • The Milken Institute, which published a new report in January 2018, put the Fayetteville - Springdale -Rogers Metropolitan Statistical Area's economy at No. 25 among 200 large metropolitan areas; the region was especially strong in job and wage growth, while its weaknesses were mostly related to growth in high-tech components; • U.S. News and World Report ranked Northwest Arkansas 8th nationally in its April 2018 ranking of the "20 Best Affordable Places to Live"; • Forbes ranked Northwest Arkansas at No. 2 on .its list of Best Midsize Cities for Jobs in May 2018; midsize cities were classified by having 150,000 to 450,000 nonfarm jobs in their metropolitan area; • Forbes and ranked Northwest Arkansas at No. 3 among the nation's medium-sized cities for white-collar job growth in July 20.16; the region ranked 16th among all U.S. metropolitan statistical areas; • In March 2016, Fast Company and Nerd Wallet ranked Northwest Arkansas 2nd nationally on its list of "Best Places for Minority -Owned Businesses"; • Lonely Planet, the world's largest publisher of travel -related books andguides, in February 2016 ranked Northwest Arkansas at No. 7 on its list of "Best in the U.S."; • Researchers at Chapman University's Center for Demographics and Policy in California determined in a report that Northwest Arkansas ranked No. l in the nation in family friendliness; the report, called `Building Cities for People" and made public in January 2016, measured metropolitan areas in categories such as commute times, housing costs, income, and migration; • Forbes ranked Northwest Arkansas at No. 24 on its list of "Best Places for Business and Careers" in 2016; criteria included labor supply, quality of life, college attainment, crime statistics, local college quality; and cultural and recreational opportunities; the same report ranked. Northwest Arkansas No. l 1 in job growth;. + Money Magazine included Northwest Arkansas on its 2015 list of the "25 Best Places to Retire"; this was primarily based on the wealth ofy ear -round outdoor outlets Northwest Arkansas provides; • New Geography placed Northwest Arkansas 2nd on' its list of "Best Cities for Jobs" in 2017; this was for medium sized cities and the rankings were based on recent growth trends, mid-term growth and long-term ;growth, momentum, and current year growth. The Fayetteville -Springdale -Rogers MSA economy, according to a report delivered to the U.S. Conference of Mayors in 2014, grew 3.8% in 2013. It is projected to grow at 4.2% annually between 2013-20, making it one of the top MSA's in the nation. The region's gross metropolitan product ranked 3rd for the 2013-20 projection. Northwest Arkansas is No. 7 among 18 regions that experienced the most economic growth in 2016, according to research by the U.S. Conference of Mayors in June 2015. U.S. Census data reflect the following income figures for the Benton -Washington County area: r Median household Income. $39,692 $45,442 14.5% Per '66P,i#a Incoireg $21,840 $25,249 15.6% The single-family residential sector of the Northwest Arkansas real estate market has fully rebounded from the recent "Great Recession." Population growth and non-farm employment growth are strong in Washington and Benton Counties. This has resulted in increased overall demand for residential housing. As of the Second Quarter of 2017, Benton County totaled approximately 4,708 empty, single-family and duplex lots with Final Plat filed and/or receiving final approval. The total for Washington County was approximately 3,407. Based on lot sales to end users during the previous five-year period in the two -county area, the total empty lot supply could constitute near a 4.25-5.50± ,year inventory. Interest rates remain low, which is a positive for the housing market, however .are experiencing upward movement. Rates are expected to continue moving upward in the near future. However, rates are still projected to remain in an affordable range. This, along with continued growth in non-farm employment, should sustain the downward movement in the number of empty residential lots in the two -county area. In Benton County, Multiple Listing Service (MLS) data reflects the median home price for the First Quarter of 2018 to be $194,000, ,as compared to $180,000 for the First Quarter of 2017. This indicates a 7.8% decrease. In Washington County, the median home price for the First Quarter of 2018 was indicated by MLS data to be .$179,900. This compares to $170,000 for the First Quarter of 2017. The increase calculates to 5.8%. K :?i�J ice" e1 •� ', � �, ,� ' ; Median,Houselrolln#ne $52,417 $59,016 12.6% T?rCa ;ta xnconi $24,912 $28,996 16.4% r Median household Income. $39,692 $45,442 14.5% Per '66P,i#a Incoireg $21,840 $25,249 15.6% The single-family residential sector of the Northwest Arkansas real estate market has fully rebounded from the recent "Great Recession." Population growth and non-farm employment growth are strong in Washington and Benton Counties. This has resulted in increased overall demand for residential housing. As of the Second Quarter of 2017, Benton County totaled approximately 4,708 empty, single-family and duplex lots with Final Plat filed and/or receiving final approval. The total for Washington County was approximately 3,407. Based on lot sales to end users during the previous five-year period in the two -county area, the total empty lot supply could constitute near a 4.25-5.50± ,year inventory. Interest rates remain low, which is a positive for the housing market, however .are experiencing upward movement. Rates are expected to continue moving upward in the near future. However, rates are still projected to remain in an affordable range. This, along with continued growth in non-farm employment, should sustain the downward movement in the number of empty residential lots in the two -county area. In Benton County, Multiple Listing Service (MLS) data reflects the median home price for the First Quarter of 2018 to be $194,000, ,as compared to $180,000 for the First Quarter of 2017. This indicates a 7.8% decrease. In Washington County, the median home price for the First Quarter of 2018 was indicated by MLS data to be .$179,900. This compares to $170,000 for the First Quarter of 2017. The increase calculates to 5.8%. New construction of single-family residential dwellings has occurred at a rapid pace in recent years. The number of residential building permits for Benton and Washington Counties is displayed in the following exhibit: Residential Building Permits 2,500 2,000 1,500 1,000 500 IAL ' Al _ .a 2009 2010 2011 2012 2013 2014 2015 2016 2017 ■ Benton County ■ Washington County Source: U.S. Department of Housing and Urban Development The multi -family residential sector of the real estate market in Benton and Washington Counties was the first sector to rebound from the recent "Great Recession". In the multi -family sector, Streetsmart Multi -family Market Insight Report indicated an overall vacancy rate of 1.7% in the Third Quarter of 2017. The Fayetteville multi -family market has a good history of strength, due to the University of Arkansas, and reflected a Third Quarter 2017 vacancy rate of 1.84%. The Rogers/Lowell, Bentonville/Centerton, Siloam Springs, and Springdale multi -family markets also appear to be healthy with vacancy rates of 2.16%, 1.37%, .99%, and 1.32%, respectively, in the third quarter 2017. The multi -family residential sector has maintained low vacancy rates despite adding a significant number of new units in recent years. The majority of the new units constructed in recent years are located in Fayetteville. The Bentonville and Rogers/Lowell markets have also experienced substantial construction of new units, while Springdale has experienced very little new construction since the 2009-2010± time period. The number of multi -family building permits by units for Bentonville, Fayetteville, Rogers/Lowell, and Springdale is displayed in the following exhibit: 6'ource: Streetsmart Multi -gamily Market Insight Report It should be noted that the most recent Streetsmart report indicates that approximately 5,177± multi -family units in the Northwest Arkansas market were in the pipeline as of Q3 2017. This includes units very recently completed, under construction, or approved by Planning Commission with no building permits currently issued. With respect to the commercial sector of the real estate market in Benton and Washington Counties, the overall vacancy rate, according to Streetsmart Commercial Market Insight Report, for Class "A" and `B" professional office space for the Third/Fourth Quarter of 2017 was indicated to be 11.49%. The vacancy rate for Class "A" space alone was reported at 1.2.2%. These rates are for investment grade, non -owner occupied space. Obviously, job creation is critical to the absorption of office space. It should be noted that the overall professional office vacancy rate was thought to have peaked in mid/late 2010, with vacancy slowly decreasing since that time. The overall vacancy rate forretail space has also slowly declined since 2010, and was indicated to be 6.14% (Class "A" and `B" combined) in the Third/Fourth Quarter of 2017. This, too, is for investment grade, non -owner occupied space. It should be noted that the reported vacancy rate for Class "A" retail space in the Third/Fourth Quarter of 2017 was 4.8%. Sales and leasing activity in the commercial sector began to significantly improve in mid -2013, and are currently considered to be at healthy levels. Commercial development land must also be considered. There remains a considerable amount of potential commercial development land in the two -county area; however, absorption is occurring as prime development land has been purchased in recent years for new development. A significant amount of construction activity has recently been completed, is on-going, and is planned in the Northwest Arkansas Area. New development projects include: Class "A" professional office buildings; medical -office buildings; strip, neighborhood, and community shopping centers; convenience stores; quick -service and full-service restaurants; hotels/motels; special-purpose properties; etc. The dollar values (in 1,000's) of commercial building permits in Northwest Arkansas are presented in the following exhibit: Source: The Skyline Report — 2nd Half 2017 Commercial Real Estate Market Sunmmmy ;1 With respect to hotel s/]notels/restaurants, the following increases/decreases in tax receipts collected between 2016 and 2017 were indicated: Bentonville -1.1°/� $ 2,250,480 Fayetteville +3.60/of $ 3,421,123 Rogers +25.50/.t $ 5,671,603 (Rogers increased tax from 2% to 3% in 9/2017) Springdale +5.7%f $ 461,572 (2015-2016 for Springdale; data not available for 2017) Springdale and Rogers do not collect restaurant tax receipts. The economic base of the region consists of four basic areas: First, agricultural production with the primary commodities being beef cattle, dairy cattle, and poultry. The general offices of Tyson Foods, Inc., the largest poultry processor in the world, are located in Springdale in Washington County. Benton and Washington Counties have a considerable amount of rural acreage and, therefore, it would stand to reason that agriculture would be important to the area. There is also some cropland in the area, primarily green bean and orchard production (grapes). According to the USDA, Benton and Washington counties had total agricultural sales in 2012 of $529,128,000 and $443,025,000, respectively. Second, influence from the University of Arkansas located in Fayetteville. Total enrollment for Fall 2017 at the University was 27,558, an increase of 5.1% since Fall 2013. A second public academic institution, the Northwest Arkansas Community College (NWACC), is located in Bentonville. Fall 2017 enrollment for the school was indicated to be 7,715, a slight decrease from Fall 2016. In addition to the main campus, the NWACC also has branch campuses located in Springdale,. Rogers, and Farmington. A Washington County Campus is proposed in the southwest part of Springdale. Construction of the facility is expected to begin late summer of 2018 and should be completed by spring of 2020. Third, recreational usage primarily in the northeast part of Washington County, and the southeast, east, and northeast parts of Benton County. This recreational usage is primarily provided by .Beaver Lake, a Corps of Engineers Reservoir on the White River. Beaver Lake affords typical fresh water sports such as boating, fishing, skiing, swimming, etc. Each of the major cities in the two -county area also has recreational amenities. It should be noted that Arvest Baseball Park opened in the Spring of 2008 in the southwest part of Springdale. This baseball=park is the home of the Northwest Arkansas Naturals (Minor League AA Affiliate of the Kansas City Royals). The location is at the southwest corner of Watkins Avenue and 56`h Street, just west of I- 49. Fourth, the large number of manufacturing businesses and industries located within the two counties. The general offices of Walmart Inc., the world's largest retailer, are located in Bentonville. Walmart has had a tremendous impact on the area, particularly Benton County. The general offices of J.B. Hunt, Inc., a major trucking company, are located in Lowell. As previously indicated, the general offices of Tyson Foods, Inc., the world's largest poultry processor, are located in Springdale. Walmart, J.B. Hunt, and Tyson Foods are each Fortune 500 Companies. The presence of these companies drives demand for attorneys, accountants, architects, hotels, restaurants, retailers, etc. Most of the major industries are located in the larger cities in the counties. According to the 2012 Economic Census, total value of shipments by manufacturers in Arkansas was $62,712,925. According to State & County QuickFacts, total value of shipments by manufacturers in Washington County in 2012.was $3,487,047. Retail sales estimates for Benton and Washington Counties for 2012, based on State & County QuickFacts, were $2,905,967 and $2,925,758, respectively. The following table represents major employers in the MSA (as of 2017) �.�N=Wwpj Walmart Inc. (Home Office, DC's & Stores) 28,000+ Retail i n Bentonville Tyson Foods, Inc 12,000+ Protein Processing/Marketing Springdale University of Arkansas 4,000+ Education Fayetteville Simmons Foods, Inc. 3,900+ Poultry Processing Siloam Springs J.B. Hunt Transport, Inc 3,000+ Transportation Lowell Washington Regional 2,750+ Health Fayetteville George's Inc. 2,500+ Poultry Springdale Mercy Health Systems 2,000+ Health Multiple Northwest Health Systems 1,900+ Health I Bentonville/Springdale Arvest Bank 1,500+ Finance I Bentonville Source: Employers; Local Chambers of Commerce, M.B.A. Today In addition, Northwest Arkansas is the home of several satellite offices of Fortune 500 companies supplying products to Walmart Inc. These Fortune 500 companies with a presence in Northwest Arkansas include: IBM, Coca-Cola, Proctor & Gamble, Pfizer, Gillette, Mattel, Hershey, Sara Lee, Kimberly Clark, Kraft -Heinz, Colgate, Clorox, Ball Corp., Disney, General Mills, Kellogg, Hormel, Newell Rubbermaid, Johnson & Johnson, Pepsico, Philip Morris, J.M. Smucker Co., Mondelez International, etc. Construction of the Crystal Bridges Museum of American Art in Bentonville has been a plus for the Northwest Arkansas economy, particularly the City of Bentonville. This museum opened in November 2011, and was a project of the Walton family. Crystal Bridges is located near the Central Business District of Bentonville, and, along with the "Downtown Bentonville' program, has been instrumental in the revitalization of the Central Business District. Near 4,000,000± people total have visited Crystal Bridges Museum since its opening. The "Scott Family Amazeum" opened in mid -2015±, just to the east of Crystal Bridges. The "Amazeum" is a hands-on, interactive museum for children and families with a foundation in the arts and sciences. The Walton Arts Center, comprised of three campuses, brings a variety of performers and artists to the region. The first campus, opened in 1992, is located in Fayetteville on Dickson St. The accompanying locations are the Walmart AMP (Rogers) and Nadine Baum Studios (Fayetteville). In September of 2017, Walmart Inc. announced plans to construct a new corporate headquarters, combining more than 20 smaller offices. Construction is expected to take 5 to 7 years and the campus will be located in Bentonville between Central Avenue and Highway 102, east of J Street. There are many financial institutions in Benton and Washington Counties. These institutions have typically provided an adequate supply of funds for residential, commercial, industrial, and agricultural growth. It should be noted that credit conditions tightened in 2008 as financial institutions dealt with problem real estate loans, and deteriorating economic conditions. The Federal Government infused funds into the financial market in an attempt to provide .liquidity and ease credit. The major financial institutions in the area are located in Bentonville, Fayetteville, Rogers, Siloam Springs, and Springdale, with smaller banks and branches situated in many of the smaller communities. Currently, interest rates on long-term (15-30 years) residential first mortgages are typically in the 4.00% - 4.75% range. Interest rates on commercial mortgages are typically in the 5.00% to 7.00% range. The amortization period may be 15 to 25 years; however, the interest rate is likely to be fixed for only a 5 to 10 year period. Interest rates have begun to increase slightly due, in part, to Federal Reserve policy; however remain in an affordable range. Federal Deposit Insurance Corporation (FDIC) data indicate there are a total of 40 financial institutions in the Fayetteville -Springdale -Rogers MSA. Deposits as of June 30, 2017 totaled $10,781,000,OOOf based on the FDIC data. Real estate development in the area has primarily been centered in the major cities, and in smaller communities such as Centerton, Farmington, Lowell, and Prairie Grove. However, rural development is also occurring with small acreage homesites visible throughout the two counties. The local economy has fully rebounded from the recent "Great Recession" and has been in a growth period since 2015±. A plus for the area has been continued year over year increases in non-farm employment numbers. Continued growth in non-farm employment is crucial to the health of the Northwest Arkansas real estate market. The long-term outlook is that economic forces will continue to have a positive effect on real property values in .Benton and Washington Counties. Governmental Forces: Governmental, political, and legal actions at all levels have a great impact on property values.- The alues. The county seats of Benton and Washington Counties, as previously discussed, are Bentonville and Fayetteville, respectively. These two cities are some 20f minutes apart via 1-49. County government in each county is under the direction of the County Judge and Quorum Court. Other elected county officials include the County Clerk, Circuit Clerk, Collector, Assessor, Treasurer, Sheriff, Coroner, etc. Property taxes in Arkansas are collected at the county level and distributed to the counties, cities, and school districts. In Arkansas, all real property, except agricultural land, is to be appraised at market value. Agricultural land is valued based upon soil class productivity. The appraised value is multiplied by a 20% assessment ratio to arrive at the assessed value. The assessed value is then multiplied by the appropriate millage rate to arrive at the annual property tax. However, in 2001, a tax relief act was passed in Arkansas, which limits the annual increase in property tax from the base year. A new term -was created, called Taxable Value. Taxable Value is now multiplied by the applicable millage rate to arrive at the annual real estate tax. The annual property tax is due by October 15th in the year after it is levied. Individual property taxes in Benton and Washington Counties have generally increased over the last several years due to continuing reappraisal; however, it should be noted that both Benton and Washington Counties made adjustments in real estate appraised values for property tax purposes due to the recent "Great Recession." Benton County does not have county zoning at the present time. Washington County, however, passed an ordinance introducing zoning regulations to unincorporated parts of the county. This zoning ordinance became effective in December of 2007. This zoning is enforced by the Washington County Planning Board. The major cities in the area also have zoning regulations. There are no adverse legislative restrictions on the use and development of real property in the area. However, it should be noted that some of the cities in Benton and Washington Counties have established Overlay Districts which place limitations on development of lands within the established districts. Benton and Washington Counties are considered to have adequate medical, school, lodging, and religious facilities to service the Trade Area. Construction of a new Arkansas Children's Hospital facility in Springdale was completed in February 2018. The building includes 233,613± square feet of inpatient beds, emergency care, diagnostic service, and clinical space. The building also includes a helipad. The hospital will employ over 250 employees. The following table reflects area schools' enrollments for the previous years: Fayetteville Public Schools 9,421 9,503 9,652 9,321 NOM.Ta CA' 9,525 Springdale Public Schools 20 547 21,120 21,260 21,527 21,958 Rogers Public Schools 14,757 15,027 15,077 15,486 15,857 Bentonville Public Schools 15,114 15,497 16,060 16,896 17,217 University of Arkansas - Fayetteville 24,537 1 26,237 1 26,754 1 27,194 1 27,558 Northwest Arkansas Community College - Rogers/Bentonville 8,020 8,098 7,744 7,761 7,715 John Brown University - Siloam Springs 2,183 2,850 2,126 2,126 2,613 Source: Schools Administration Offices There are also private church schools in operation in the two -county area, as well as charter schools. There are a total of five charter schools in Benton and Washington Counties, with additional schools planned. Fall 2017 enrollment at the area charter schools was reported at 3,396. Utilities available in the rural areas of Benton and Washington Counties include electricity and telephone service. Natural gas and rural water are also available in many areas. Public water and sewer are available in the major cities, as well as in most of the smaller communities. Overall, governmental forces in the area provide a positive effect on real property values in Benton and Washington Counties. Lack of public water and sewer in certain areas is a drawback. However, the Two Ton Water Project and Benton -Washington County Water Authorities have addressed much of the rural water needs in the two -county area. Environmental Forces: Both natural and man-made environmental forces influence real property values. Environmental forces include climatic conditions, topography and soil, natural barriers to future development, primary transportation systems, and the nature and desirability of the immediate area surrounding a property. The two -county area has relatively warm summers and mild winters. High temperatures in summer are often accompanied by high humidity. The average daily temperature, according to the National Weather Service, is about 56.8 degrees. Each year there are about 58f days when temperatures go above 90 degrees and typically only a few days when temperatures drop to freezing or below; however, the past few years have seen cold extremes where the temperature has dropped below freezing on several days. The area has an average of 9 to l 0± inches of snow annually, although there have been recent years where this has been exceeded. Rainfall averages around 47f inches annually. The following map illustrates the relationship between the cities and counties of the MSA (the four -county MSA is outlined in black): ealon Buh r i kf Creek..; .Reeds S ringf .-Erie Anderson Exel 0 • P fai1ti o .".- tnnno _- D rnd n Cird ... Lanagano P/nevAle' 37 {, himxn•So�h .Ity fOlt.ou71"K�n Sown nom wrk s �dMCb .ALD clySe ....c ................ Q. ° Ea '•'M - m .. Mi • PP . Bela Yisia•' - Pea Ridge •. 6Yavdte BrigHwater ,. •.. Vreke. SPr'� - , Bentonvac Bea{er take. ' �� Berryvge' Decatur •Ceded R ogeraF Gre nfge5l oinord Gentry 8 E N7 ... Cove Springs' N Lowel • -.. Cerrol 1 ,�,. _,,. ✓ EImS�gSp_,, ,_ Bdhel Heights .„ �S ol'am-; -�"'�m ' pSptingdale '-:� . _ tdad]le t Dein .Watts •- -.�.. ':, a o57ien MJ+,�115y3N Purdy' Fa� on stvile Prairie. %ata "'Glove ayet(eville -,..: Elkins ,.. • •Hutisvile •VNudon ., �-, SHlld TW A R K A S� UnccolVest Fork+ `Verus 'L�IR ` } Sliwel o - PeJligrew. Bost nslnw . ' 71j ...... Vest Cohb :.............. The area is part of the Ozark Highlands. In Benton County, topography ranges from broad plains and rolling hills in the western and central parts to rocky, rough, steeper hills in the east. Much of the eastern one-third of the county is covered by Beaver Reservoir. The elevation increases from west to east and ranges from 1,000± to 1,700± feet above sea level. The elevation of Washington County also varies from 1,000± to 1,700± feet. In general, the topography of Washington County is rough along the western, eastern, southern, and northwestern boundaries. Extending through the heart of the county, from the Oklahoma line to the City of Springdale, is a plateau -like area consisting of rolling, reasonably level land. The City of Fayetteville, located in the edge of the Boston Mountain Range, is quite hilly. Soil and subsoil conditions within the two counties range from fair to good for agricultural purposes. There are natural barriers to real property development in the area. These consist primarily of mountainous regions, rivers, etc. However, many of these barriers have a positive effect on agricultural usage. The primary transportation routes in the two counties are I-49 and U.S. Highway 71B (north - south), and U.S. Highway 412 (east -west). From Fayetteville north to Bella Vista, I-49 provides divided highway access. South from Fayetteville, I-49 provides divided highway access to Interstate 40 at Alma. U.S. Highway 71 south from Fayetteville was made a Scenic Byway in 1998. Divided highway access is now available from the region to Fort Smith to the south via I- 49/40/540, and to Little Rock to the southeast via 1-49/40. Also, U.S. Highway 412 provides divided highway access from Tontitown westerly to Siloam Springs near the Oklahoma State Line. Divided highway access is available westerly from the region to Tulsa, Oklahoma via U.S. 412 to the Cherokee Turnpike. U.S. Highway 71B, I-49, and U.S. Highway 412 are each heavily traveled traffic arteries. U.S. Highway 71B traverses Fayetteville, Springdale, Lowell, Rogers, Bentonville, and Bella Vista. U.S. Highway 412 traverses Springdale, Tontitown, and Siloam Springs. Construction on a divided highway phase of U.S. Highway 412 east of Springdale to near Hindsville was completed in 2001. Construction of an extension of the U.S. Highway 412 divided highway to near Huntsville was completed in 2014. U.S. Highway 62 and State Highway 16 in Washington County also provide east -west access, as do State Highways 12, 102, and 264 in Benton County. In addition, there are other state highways as well as county roads providing adequate access throughout the area. There is a significant number of secondary roadways traversing the Northwest Arkansas Area. New major highway construction in the two - county area includes the Bella Vista Bypass and the northern Springdale Bypass. With respect to the northern Springdale Bypass, the segment of the highway west of 1-49 (between 1-49 & U.S. 412) will be constructed prior to the segment east of 1-49. Construction of the west segment of the Northern Bypass began in 2015. The section of the Northern Bypass between 1-49 and AR l l2 opened in mid -2017. Part of the Bella Vista Bypass has recently been completed; however, additional phases remain. The timing of completion is uncertain at the present time. The State of Missouri has not announced the proposed construction timing/schedule for their part of the Bella Vista Bypass. It should be noted that construction of additional lanes to 1-49 in Benton and Washington Counties is being completed in phases. Some sections of the widening project have already been completed, while some sections are currently being completed. Certain sections are also proposed to be widened in the near future. Finally, several of the cities in the region are in the process of improving/constructing new transportation routes within their municipalities. It should be noted that a new Interchange opened in 2014 along I-49 in Springdale. The location is at 1-49/Don Tyson Parkway in the southwest part of Springdale, and has improved access from I- 49, via Don Tyson Parkway, to the Tyson Foods, Inc. General Offices. Another Interchange along 1-49 is proposed in Bentonville. The location is at 1-49/SE 8"' Street in the east part of Bentonville. This will allow good access from 1-49, via 8`" Street, to the Walmart Inc. General Offices. The Northwest Arkansas Regional Airport (XNA), which opened in November 1998, is located near the small community of Highfill in the northwest part of the region. Total construction cost was estimated near $109± million. Some 2,185± acres were involved. There are two runways, both 8,800± feet in length by 150± feet in width. There is also a 75' x 8,800'± taxiway. The terminal building was indicated initially near 69,000± square feet in size; however, has been expanded adding a new terminal. The new terminal reportedly cost $20-25 million, and allowed parking space for twelve additional planes. The addition reportedly added 51,000± square feet of building area. Direct flights are now available to many of the major MSA's across the country. In 2016, the airport served some 1,396,738± passengers, while in 2017 the airport served a reported 1,438,922± passengers. Construction of a four -level parking deck began in January of 2017. The new garage will provide for an additional 1,400± parking spaces, and is proposed to be completed in late 2018. A 20 -Year Master Plan for the airport includes the addition of another runway. A new transportation route to the airport is also proposed to be constructed in the near future. This new route is to run northwesterly from the west segment of the Northern Springdale Bypass. The new route will likely intersect the Northern Springdale Bypass a short distance west of State Highway 112 (north -south route). State Highway 264 currently provides access to the south entrance to the airport, while State Highway 12 provides access to the north entrance. Growth has occurred toward the airport, especially along State Highway 12 from Bentonville. The airport has exceeded initial projections on the number of people utilizing the facility. The two -county area is reasonably well located and is within relatively short driving times of major metropolitan areas. Driving time to Tulsa is less than 2± hours, to Little Rock is 2.5-3± hours, and to Kansas City is 3-4± hours. Environmental forces, for the most part, are considered favorable for real estate development in the area, and provide a positive effect on real property values in Benton and Washington Counties. CONCLUSIONS Each of the major forces affecting real property values has been addressed in this section of the report. The conclusion is that each of the forces has a positive effect on value. Between July 2016 and July 2017, the estimated population growth in Benton and Washington Counties combined was estimated at 11,956± people. This calculates to near 33± persons per day (11,956 - 365 days). This represents net growth, including births, deaths, out -migration, and in -migration. .This is lower than at the peak time in the mid part of the past decade; however, is still significant. This population growth is occurring in part due to the job market in Northwest Arkansas. The continued strong growth in non-farm employment in the two -county area not only increases in -migration numbers, but also reduces out -migration numbers. The population growth results in demand for residential housing, both single and multi -family, which, in turn, creates demand for commercial real estate development to provide services for the area residents. Availability of favorable financing terms continues to be an enhancement for both residential and commercial development. Walmart Inc., Tyson Foods, Inc., JB Hunt Transport Services, Inc., and the University of Arkansas are the major drivers of the Northwest Arkansas economy, and this is expected to continue into the foreseeable future. Walmart Inc. has impacted development through -out the two -county area, particularly in Bentonville. Walmart Inc. is a major direct employer, but also of great impact are the hundreds of satellite offices of Walmart suppliers that have a presence in the area; and, there are many companies in the area focused on servicing the Walmart supplier community with respect to logistics, packaging, displays, advertising, etc. capabilities. The poultry industry continues to lead the Agricultural Sector of the local real estate market, with Tyson Foods, Inc., Simmons Foods, Inc., and George's Inc., being the primary players. Tyson Foods, Inc., is also instrumental in the revitalization of the Springdale Central Business District by undertaking new development. The University of Arkansas remains the focal point of Fayetteville. Student growth is creating demand for new residential (multi -family in particular) development. The trucking industry, led by J.B. Hunt Transport, Inc., also represents a plus for the local economy and brings national recognition to the area. The medical community in Benton and Washington Counties also creates demand for real estate development in the area. Washington Regional, Northwest Health systems, and Mercy Health Systems are the major employers. A new Arkansas Children's Hospital opened in February of 2018 in the southwest part of Springdale. This should create demand for residential and commercial development in that area. In summary, the Benton -Washington County Area appears to have the foundation and composition for continued strong growth. This reflects positively on real estate development and real property values in the area. Aerial Photograph August 8, 2018 1:2,389 County Street Centerlines Building Footprints 2013 = Unlmown EX- Exempt Property 0 0.03 0.06 0.12 mi "II other values> _, Changed Building Structure Points - HPR • Horizontal Property Regime Pe Y e9i 0 0.0175 0.095 0.19 km — State Highway =_ Demolished AS -Agri Building Only MH - Mobile Home — Local Paved Existing BB - Billboard Only _ RB - Res Building Only wsmowrm Cev.V. AR — Local Gravel r New - BD - Boat Dock Only .L TVJR -Toyer Interstate PossiblyChanged - CB- Commercial Building Only i.F. County Boundary W -".County At vft n aon Ceuny e � ..; �S �'y •rOM red; �` i;t'�^'i'tt 9z, Yom, ,6, e � ..; �S �'y •rOM red; �` i;t'�^'i'tt 9z, ,6, SHERWOOD LANE FRONTAGE - LOOKING SOUTHERLY SUBJECT PROPERTY - PRIVATE DRIVE EXTENDING FROM TOWNSHIP STREET - LOOKING SOUTHERLY SUBJECT PROPERTY - PRIVATE DRIVE EXTENDING FROM TOWNSHIP STREET - LOOKING NORTHERLY SUBJECT PROPERTY - LOOKING EASTERLY & SHOWING PROPOSED PERMANENT EASEMENT ACQUISITION AREA AND PROPOSED NEW TANK SITE SUBJECT PROPERTY - LOOKING NORTHEASTERLY & SHOWING PROPOSED PERMANENT ACCESS EASEMENT & TCE ACQUISITION AREAS yi' �--„••y,/'�,f "�”'-�.E1 �. � �C� z) \ z-' ✓° :y�.'' a ,( rnS '�'. ; " t, _ zr.ti'•fr.:• �i"'/,•,' ),,�,,,��,,,,,.jjjjj''''v,�'q�,..t�+� it ".r• � 1F+- w{ .� j / „y. r.. r:s r ,�-'. ..s�' i;h tN l - .r;,-t!•.�:i�,.rn <•f."i.aY.J'� .r� .riT�_'� i .. ;•K'� OAN sk ��..r '��.. r•r�`^�r t�J irz3, w t � •,9. -' •y,+ •c, �� • r%::��.�.i: .�?a.', .3 s'rt°k: '...Fh 7:�f�•'�r"zR< <. '�. �r�sr� .i�� .._t t ''t � v'2,m�, ri �� "• r to a. � rt �,�• - .fir . ,�,��.R.' fi .�N � 3 �„�s•"�,� '�,..?s' i� r.{..Y IP _.w t j •V' � � 4• :'"'`"' 2 � ' -1F;• Ads .:��. 1, r�.' ,,� '.'' .• � ' a�.h a � � j Vii. �: /, ; i�.. • • .. . �F.�,� ., j a National Flood Hazard Layer FIRNIette `FEMA 0 250 500 1,000 1,500 2,000 Le end �' sEE Els REPORT FOR DETAILED LEGEND AND INDEX MAP FOR TAM PANEL LAYOUT Without Base Flood Eievatlon (BFE) ; Parcel: 765-15986-000 Washington County Report Prev. Parcel: 148969-000-00 As of: 8/7/2018 Property Owner Name: WEISS, JOHN B & MARY KATHLEEN Mailing Address: 968 E TOWNSHIP ST FAYETTEVILLE, AR 72703 Type: (RM) Res. Misc. Improv. Tax Dist: (011) FAYETTEVILLE SCH, FAY Millage Rate: 57.45 Extended Legal: PT SE SE 3.755A Market and Assessed Values Estimated Full Assessed Market Value (20% Mkt Value) Land: $95,350 $19,070 Building: 20800 4160 ID: 53411 Property Information Physical Address: 942 E TOWNSHIP ST Subdivision: 35-17-30 FAYETTEVILLE OUTLOTS Block / Lot: N/A / N/A S -T -R: 35-17-30 Size (Acres): 0.000 Taxes Taxable Estimated $1,335 Value Taxes: $19,070 Homestead $0 Note: Tax amounts are estimates only. Contact the county/parish tax collector for exact amounts, 4160 Credit: Total: $116,150 $23,230 $23,230 Land Land Use Size Units 1.000 House Lot 1.000 Acres 1.000 Acres 0.755 Acres Total Deed Transfers 3.755 Date Book Page Deed Type Stamps Est. Sale Grantee Code Type 11/17/2010 2010 33991 Survey WEISS, JOHN B & MARY K Relative Land Only 5/21/2010 2010 15272 Survey WEISS, JOHN B & MARY K N/A N/A 5/20/2010 2010 17565 CorrDeed WEISS, JOHN B & MARY K Additional N/A Properties 5/20/2010 2010 15273 Warr. Deed 1485.00 $450,000 WEISS, JOHN B & MARY K Additional Improved Properties 1/1/2008 2008 6974 Trust Deed MARIE MCCLINTON MARITAL Additional N/A TRUST'` ; Properties 1/3/2007 2007 15449 Trust Deed MARIE MCLINTON FAMILY TRST; Inc. N/A Additional Prop. 1/2/2007 2007 5545 Trust Deed MARIE MCLINTON FAMILY TRST Additional N/A (63%); Properties 1/1/2007 2007 5544 Trust Deed THE MARIE MCCLINTON TRUST Additional N/A (63%); Properties 11/13/2006 2006 17321 •ExecDeed THE MARIE MCCLINTON TRUST Additional N/A Properties 1/1/1985 672 240 N/A 0.00 $0 MCCLINTON, MARIE N/A N/A Not a Legal Document. Subject to teens and conditions. www.actDataScout.com Page 1 Parcel: 765-15986-000 Prev. Parcel: 148969-000-00 As of: 8/7/2018 Reappraisal Value History Washington County Report ID: 53411 Tax Year Total Value Total Assessed 2015 $116,150.00 $23,230.00 2016 $116,150.00 $23,230.00 2017 $116,150.00 $23,230.00 Details for Residential Card 1 Occupancy Story Construction Total Liv Grade Year Built Age Condition Beds N/A N/A N/A Exterior Wall: Plumbing: N/A Foundation: N/A Fireplace: N/A Floor Struct: N/A Heat / Cool: N/A Floor Cover: N/A Basement: N/A Insulation: N/A Basement Area: Roof Cover: N/A Year Remodeled: Roof Type: N/A Style: Outbuildings and Yard Improvements Item Type Size/Dim Unit Multi. Quality Age Asphalt Driveway 22x905 Other Adjustments Code Type Quantity Not a Legal Document. Subject to tenns and conditions. www.actDataScout.com Page 2 Parcel: 765-15986-000 Washington County Report ID: 53411 Prev. Parcel: 148969-000-00 As of: 8/7/2018 Map Not a Legal Document. Subject to teens and conditions. www.actDataScout.com Page 3 Parcel: 765-15990-000 Washington County Report ID: 53418 Prev. Parcel: 148973-000-00 As of: 8/7/2018 Property Owner Property Information Name: WEISS, JOHN B & MARY Physical Address: KATHLEEN Mailing Address: 968 E TOWNSHIP ST Subdivision: 35-17-30 FAYETTEVILLE OUTLOTS FAYETTEVILLE, AR 72703 Block / Lot: N/A / N/A Type: (RV) Res. Vacant S -T -R: 35-17-30 Tax Dist: (011) FAYETTEVILLE SCH, FAY Size (Acres): Millage Rate: 57.45 Extended Legal: PT SE SE 1.58 AC. (575 X 120) FURTSHER DESCRIBED FROM 20113239 AS: Part of the SE 1/4 of the SE 1/4 of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, more particularly described as follows: Beginning at a point 354.5 feet East and 250 feet North of the SW corner of said forty acre tract, and running, thence North 575 feet; thence East 120 feet; thence South 575 feet; thence West 120 feet, to the point of beginning. Market and Assessed Values Taxes Nota Legal Document. Subject to terins and conditions. mvvv.actDataScout.com Page 1 Estimated Full Assessed Taxable Estimated $577 Market Value (20% Mkt Value) Value Taxes: Land: $50,250 $10,050 $10,050 Homestead $0 Note: Tax amounts are estimates only. Contact Credit: the county/parish tax collector for exact amounts. Building: 0 0 0 Total: $50,250 $10,050 $10,050 Land Land Use Size Units 1.000 Acres 0.580 Acres Total 1.580 Nota Legal Document. Subject to terins and conditions. mvvv.actDataScout.com Page 1 Parcel: 765-15990-000 Prev. Parcel: 148973-000-00 As of: 8/7/2018 Deed Transfers Washington County Report ID: 53418 Date Book Page Deed Type Stamps Est. Sale Grantee Code Type 5/21/2010 2010 15272 Survey WEISS, JOHN B & MARY K N/A N/A 5/20/2010 2010 15274 Warr. Deed WEISS, JOHN B & MARY K N/A N/A 1/1/2008 2008 6975 Trust Deed MCCLINTON, MARIE MARITAL N/A N/A TRUST 1/4/2007 2007 5549 Trust Deed CLARK C MCCLINTON FAMILY N/A N/A TRST(56%); 1/4/2007 2007 15448 Trust Deed CLARK C MCCLINTON FAMILY N/A N/A TRST(56%) 1/3/2007 2007 5548 Trust Deed CLARK & MARIE MCCLINTON N/A N/A TRST(12%); 1/2/2007 2007 5547 Trust Deed CLARK & MARIE MCCLINTON N/A N/A TRST(31 %); 1/1/2007 2007 5546 Trust Deed MCCLINTON, CLARK & MARIE N/A N/A TRUST 9/9/2005 2005 39961 Survey MCCLINTON, CLARK & MARIE Additional N/A TRUST Properties 7/8/1983 2005 12901 Warr. Deed MCCLINTON, CLARK AND MARIE N/A N/A TRUST 8/6/1979 995 87 N/A 0.00 $0 MCCLINTON, CLARK C. & MARIE N/A N/A Reappraisal Value History Tax Year Total Value Total Assessed 2015 $50,250.00 $10,050.00 2016 $50,250.00 $10,050.00 2017 $50,250.00 $10,050.00 Not a Legal Document. Subject to tenns and conditions. www. a ctDa ta S co, A corn Page 2 Parcel: 765-15990-000 Washington County Report ID: 53418 Prev. Parcel: 148973-000-00 As of: 8/7/2018 Map Not a Legal Document. Subject to teens and conditions. www.actDataScout.com Page 3 11111411144N IN 411 114144 48h 111111111111111111 111111111411N 41111411 Doc ID: 013472240004 TYPe: REL Kin WARRANTY DEED Recorded: 08/03/2010 at 03:38:55 Pit Washlnaton3CountvsoAR1 of 4 Bette stamos Circult Clerk F11e2010-00015273 WARRANTY DEED (By Trustees) KNOW ALL MEN BY THESE PRESENTS: David C. McClinton, being the duly appointed, qualified and acting Trustee of The Marie McClinton Marital Trust dated February 19, 2004, owning an undivided 37% interest, and David C. McClinton, being the duly appointed, qualified and acting Trustee of The Clark and Marie McClinton Descendant's Educational Trust dated July 10, 2004, owning an undivided 58.49% interest, and David C. McClinton, being the duly appointed, qualified. and acting Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004, owning an undivided 4.51 % interest, hereinafter called "Grantors", pursuant to the power and authority granted therein, and for Ten Dollars ($10.00) and other valuable consideration paid by John B. Weiss and Mary K. Weiss, husband and wife, hereinafter called "Grantees", the receipt of which is hereby acknowledged, do hereby GRANT, BARGAIN, SELL and CONVEY unto the said Grantees, and unto Grantees' heirs and assigns forever, the following - described lands situated in Washington County, Arkansas: SEE EXHIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE. Subject to recorded instruments, covenants, rights of way, and easements. TO HAVE AND TO HOLD the same unto the said Grantee, and unto Grantee's heirs and assigns forever, with all tenements, appurtenances and hereditaments thereunto belonging. AND Grantors hereby covenant with said Grantee, and Grantee's heirs and assigns, that Grantors are lawfully seized of said lands, that Grantors have the right to sell and convey the same, that said lands are unencumbered, and that Grantors will forever warrant and defend the title to said lands against all lawful claims and demands whatsoever. 2010. WITNESS our hands and seals as such Grantors this day of MAIL "TAX STATEMENTS T0: q John B. & Mary K. Weiss avid C. McClinton, Trustee of The Marie ge- -+ a -+0 3 File Number: 201ft(S'f'§2"d byf'ggCgel of 4 Page 1 of 3 711 2004 McClinton Marital Trust dated February 19, David C. McClinton, Trustee of The Clark and Marie McClinton Descendant's Educational Trust dated July 10, 2004 David C. McClinton, Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004 1, on behalf of the Grantee, certify under penalty of false swearing that at least the legally correct amou ��nt of��yyd++oocumryryentary stamps have been placed on this instrument. ��)) ARRAGrantee: John B. Weiss and Mary K. Weiss, husband and wife LRKA AR By: Realty Title and Closing Services, LLC, 1 3 2 9 ti as Grantee's Agent1�1n By: Ix jf 1, l ARRANSlS Address: 1204 E. Joyce Blvd., it 101 Fayetteville, AR 72703 451131 ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON ) BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally known, who stated that he was Trustee of The Marie McClinton Marital Tryst dated February 19, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. nINf TESTIMONY WHEREOF, I have hereunto set my hand and official seal this 2y of 1—! '2010. u My Commission Expires: �,• %� Notary Public File Number: 201060MI52PSed WW2 of 4 OFFICIAL. SEAL LACEY C. YARBROUGH NOTARY PUBLIC- ARKANSAS tNASHINGTON COUNTY page 2 of 3 MY COMM. EXPIRES 1211/ 2013 76 0 ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON ) BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally known, who stated that he was Trustee of The Clark and Marie McClinton Descendant's Educational Trust dated July 10, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, Ct , 2010. My Commission Expires: I have hereunto set my hand and official seal this,—Utf\day of --t2a ("ki&-dill) Notary Public 0 / ACKNOWLEDGEMENTFLACEY IAL SEAL YARBROUGH STATE OF ARKANSASBLIC- ARKANSAS COUNTY OF WASHINGTON ) TON COUNTY PIRE'1211 12013 BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally ]mown, who stated that be was Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. pp IN TESTIMONY WHEREOF, I have hereunto set. my hand and official seal this��ay of 12010. My Commission Expires: Notary Public OFFICIAL SEAL t.ACEY C. YARBROUGH NOT ARY PLJBLIC- ARKANSAS YVASHINGTON COUNTY MY COMM. EXPIRES 121112013 PREPARED B . HARRINGTON, M11 .1 KIEKL.AK, EICHMANN & BROWN, P.A., P.O. Box 687, Springdale, Arkansas 72765 File Number: 2010Y'6U912'PSe"Ph-gf€e3 of 4 Page 3 of 3 Escrow File No.: 10-12017T EXIHBIT "All Tract 1: Part of the SE 1/4 of the SE 1/4 of Section 35, Township 17 North, Range 30 West of the 5th P.M., Washington County, Arkansas, more particularly described as follows, to - wit: Beginning at a point which is 200 feet East of the SW corner of the above described forty acre tract, and running, thence East 50 feet; thence North 250 feet; thence East 104.5 feet; thence North 575 feet; thence West 218 feet; thence South 160 feet; thence West 136.5 feet; thence South 415 feet; thence East 200 feet; thence South 250 feet to the point of beginning, less and except 25 feet of equal and uniform width off the South end of said tract lying and being in the public road. Tract 2: Part of the E 1/2 of the SE 1/4 of Section 35, Township 17 North, Range 30 West of the 5th P.M., Washington County, Arkansas, more particularly described as follows: Beginning at a point 665 feet North of the SW corner of said 80 acre tract, and running, thence East 136.5 feet; thence North 160 feet; thence West 136.5 feet; thence South 160 feet to the place of beginning, containing 1/2 acre, more or less. File Number: 201000015273 Page 4 of 4 o Illlll�plllllllll�I�IIIIII�IJ1�1�11(�II1111111�111I�1��l�llllu�� DInd: WARRANT D oc ID: 013472250004 Type: REL Recorded: OB/03/20?0 at 03:4D:10 PM Fee Amt; $30.00 Paas i o0 4 BettenstamosoClrcultRClerk WARRANTY DEED F11e2010+00 015274 (By Trustees) KNOW ALL MEN BY THESE PRESENTS: David C. McClinton, being the duly appointed, qualified and acting Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004, owning an undivided 13% interest, and David C. McClinton, being the duly appointed, qualified and acting Trustee of The Marie McClinton Marital Trust dated February 1% 2004, owning an undivided 68% interest, and David C. McClinton, being the duly appointed, qualified and acting Trustee of The Clark and Marie McClinton Descendant's Educational Trust dated July 10, 2004, owning an undivided 19% interest, hereinafter called "Grantors", pursuant to the power and authority granted therein, and for Ten Dollars ($10.00) and other valuable consideration paid by John B. Weiss and Mary K. Weiss, husband and wife, hereinafter called "Grantees", the receipt of which is hereby acknowledged, do hereby GRANT, BARGAIN, SELL and CONVEY unto the said Grantees, and unto Grantees' heirs and assigns forever, the following - described lands situated in Washington County, Arkansas: SEE EXHIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE. Subject to recorded instruments, covenants, rights of way, and easements. TO HAVE AND TO HOLD the same unto the said Grantee, and unto Grantee's heirs and assigns forever, with all tenements, appurtenances and hereditaments thereunto belonging. AND Grantors hereby covenant with said Grantee, and Grantee's heirs and assigns, that Grantors are lawfully seized of said lands, that Grantors have the right to sell and convey the same, that said lands are unencumbered, and that Grantors will forever warrant and defend the title to said lands against all lawful claims and demands whatsoever. WITNESS our hands and seals as such Grantors this 2C day of , 2010. MAIL TAX STATEMENTS TO: John B. & Mary K. Weiss 68 i.. Dams File Number: 20100{} Meed ti�qUaJileof 4 David C. McClinton, Trustee of The Clark C. McClinton Generation Skipping Family Trust Page l of 3 l7 o Illlll�plllllllll�I�IIIIII�IJ1�1�11(�II1111111�111I�1��l�llllu�� DInd: WARRANT D oc ID: 013472250004 Type: REL Recorded: OB/03/20?0 at 03:4D:10 PM Fee Amt; $30.00 Paas i o0 4 BettenstamosoClrcultRClerk WARRANTY DEED F11e2010+00 015274 (By Trustees) KNOW ALL MEN BY THESE PRESENTS: David C. McClinton, being the duly appointed, qualified and acting Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004, owning an undivided 13% interest, and David C. McClinton, being the duly appointed, qualified and acting Trustee of The Marie McClinton Marital Trust dated February 1% 2004, owning an undivided 68% interest, and David C. McClinton, being the duly appointed, qualified and acting Trustee of The Clark and Marie McClinton Descendant's Educational Trust dated July 10, 2004, owning an undivided 19% interest, hereinafter called "Grantors", pursuant to the power and authority granted therein, and for Ten Dollars ($10.00) and other valuable consideration paid by John B. Weiss and Mary K. Weiss, husband and wife, hereinafter called "Grantees", the receipt of which is hereby acknowledged, do hereby GRANT, BARGAIN, SELL and CONVEY unto the said Grantees, and unto Grantees' heirs and assigns forever, the following - described lands situated in Washington County, Arkansas: SEE EXHIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE. Subject to recorded instruments, covenants, rights of way, and easements. TO HAVE AND TO HOLD the same unto the said Grantee, and unto Grantee's heirs and assigns forever, with all tenements, appurtenances and hereditaments thereunto belonging. AND Grantors hereby covenant with said Grantee, and Grantee's heirs and assigns, that Grantors are lawfully seized of said lands, that Grantors have the right to sell and convey the same, that said lands are unencumbered, and that Grantors will forever warrant and defend the title to said lands against all lawful claims and demands whatsoever. WITNESS our hands and seals as such Grantors this 2C day of , 2010. MAIL TAX STATEMENTS TO: John B. & Mary K. Weiss 68 i.. Dams File Number: 20100{} Meed ti�qUaJileof 4 David C. McClinton, Trustee of The Clark C. McClinton Generation Skipping Family Trust Page l of 3 2004 Trust dated July 10, 2004 71) T ,6 6�, avid C. McClinton, Trustee of The Marie McClinton Marital Trust dated February 19, dated July 10, 2004 1, on behalf of the Grantee, certify under penalty of false swearing that at least the legally correct amount of documentary stamps have been placed on this instrument. Grantee: John B. Weiss and Mary K. Weiss, husband and wife By: Realty Title and Closing Services, LLC, as Grantee's Agent ~ M_ By: {� Address: 1204 E. Joyce Blvd., ite 1 Fayetteville, AR 72703 ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON } BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally ]mown, who stated that he was Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal thisZaf� day of 2010. My Commission Expires: U Notary OFFICIAL SEAL File Number: 2010 LACEY C.yARI3R0UGH page 2 of 3 ��#c`shj7�eed �r�Eof 4 �}OTARY PUBLIC- ARKANS . i. HT1 /AS L ... David C. McClinton, Trustee of The Clark and Marie McClinton Descendant's Educational dated July 10, 2004 1, on behalf of the Grantee, certify under penalty of false swearing that at least the legally correct amount of documentary stamps have been placed on this instrument. Grantee: John B. Weiss and Mary K. Weiss, husband and wife By: Realty Title and Closing Services, LLC, as Grantee's Agent ~ M_ By: {� Address: 1204 E. Joyce Blvd., ite 1 Fayetteville, AR 72703 ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON } BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally ]mown, who stated that he was Trustee of The Clark C. McClinton Generation Skipping Family Trust dated July 10, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seal thisZaf� day of 2010. My Commission Expires: U Notary OFFICIAL SEAL File Number: 2010 LACEY C.yARI3R0UGH page 2 of 3 ��#c`shj7�eed �r�Eof 4 �}OTARY PUBLIC- ARKANS . i. HT1 /AS L ... ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON ) BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally known, who stated that he=was Trustee of The Marie McClinton Marital Trust dated February 19, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instnunent for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, I have hereunto set my hand and official seat this L4ay of Nia ,nolo. My Commission Expires: LACEY C. YARBVUGH NOTARY PUBLIC- ARKANSAS WASHINGTON COUNTY MY COMM. EXPIRES 121112013 ACKNOWLEDGEMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON ) BE 1T REMEMBERED, that on this day came before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, and appeared in person the within named David C. McClinton, to me personally ]mown, who stated that he was Trustee of The Clark and Marie McClinton Descendant's Educational Trust dated July 10, 2004, a trust, and was duly authorized in such capacity to execute the foregoing Warranty Deed by Trustee for and in the name and behalf of said Trust, and further stated and acknowledged that he had so signed, executed and delivered said instrument for the consideration, uses and purposes therein mentioned and set forth. IN TESTIMONY WHEREOF, 1 have hereunto set my hand and official seal thiz ()—�-¢ay of 2010.l/� My Commission Expires: I Y NOTARY PUBLIC -ARKANSAS WASHINGTON COUNTY MY COMM. EXPIRES 1211 12013 PREPARED BY: HARRINGTON, MILLER, KIEKLAK, EICI-IMANN & BROWN, P.A., P.O: Box 687; Springdale, Arkansas 72765 File Number: 2010(Q1W. W6eedR t3eof 4 Page 3 of 3 Escrow File No.: 10-12017T EXHIBIT "A" Tract 3: Part of the SE 1/4 of the SE 1/4 of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, and being more particularly described as follows: Beginning at a point 354.5 feet East and 250 feet North of the SW corner of said forty acre tract, and running, thence North 575 feet; thence East 120 feet; thence South 575 feet; thence West 120 feet, to the point of beginning. File Number: 201000015274 :Page 4 of 4 WARRANTY DEED Husband and Wife KNOW ALL MEN BY THESE PRESENTS: 0 —J C) C, I IIIII II IIII III I ILII IIII IIIII IIIII !IIII HSI {1111 IIII 11111 !1111 IlNI IIU IIII Doo ID: 013788580003 Type: REL Kind: WARRANTY DEED Recorded: 11/29/2010 at 09:54:57 AM Fee Amt: 525,00 Pace 1 of 3 Washinoton Countv. AR Bette Stamps Circuit Clerk File2010-00035049 That we, John B. Weiss and Mary IC Weiss, husband and wife, hereinafter collectively called "Grantor''. for and in consideration of the sum of One Dollar ($1.00) and other good and valuable consideration to us in hand paid by Pam Merritt, an unmarried person, hereinafter called "Grantee", do hereby grant, bargain, sell and convey unto the said Grantee and Grantee's heirs and assigns, the following described land situate in Washington County, State of Arkansas, to -wit: SEE EXtIIBIT "A" ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE. TO HAVE AND TO HOLD the said lands and appurtenances thereunto belonging Ir unto the said Grantee and Grantee's heirs and assigns, forever. And we, the said Grantors, hereby covenant that we are lawfully seized of said land and premises, that the same is unencumbered, and that we will forever warrant and defend the title to the said lands against all claims whatever. IAND we, John B. Weiss, husband, and Mary K. Weiss, wife, for and in --- consideration of the sum of money, do hereby release and relinquish unto the said Grantee v all our rights of curtesy, dower and homestead in and to the said lands. ~ WITNESS our hands and seals on this Iq day of L.,2010. MAIL TAX STATEMENT TO: Parn Merritt c1t.12 E (1�L")nSkJ: S11 i�,r euN f`.t AP- D to ohn B. Weiss Mary K. Weiss Prepared by: Harrington, Miller, Kieklak, Eichmann & Brown, P.A., P.O. Box 687, Springdale, Arkansas 72765 Warranty Deed Page 1 of 2 File Number: 201000035049 Page 1 of 3 1, on behalf of the Grantee, ceniiy under penalty of false swearing that at least the legally correct amount of documentary stamps have been placed on this instrument. ^ Grantee: Pam Merritt KANSAS KANSAS MENjAAY MENYANY $2 S By: Realty Title a d..C1,Zsing Services, LLC, as Grantee' Agent 52°r3 1425. 5373 Address: 1204 E. Joyce Blvd., Suite 101 Fayetteville, AR 72703 ACKNOWLEDGEMENT STATE OF ARKANSAS , } ss. COUNTY OF�— ) On this the L day ofU , 2010, before me, a Notary Public; personally appeared John B. Weiss and Mary K. Weiss, husband and wife, known to me (or satisfactorily proven) to be the persons whose names are. subscribed to the foregoing instrument and acknowledged that they had executed the same for the purposes therein set forth. 1N WITNESS WHEREOF, I hereuntoet my hand and official�eal. My Commission Expires: Notary Public i 1 cLtN. mlr::s{U1x LXP. 11/0812014 , Prepared by: Harrington, Miller. Kieklak, Eichinann & Brown, P.A., P.O. Box 687, Springdale, Arkansas 72765 Warranty Deed File Number: 201000035049 Page 2 of 3 Page 2 of 2 Escrow File No.: 10-13381T EXHIBIT "A" A PART OF THE EAST HALF (E1/2) OF THE SOUTHEAST QUARTER (SE1/4) OF SECTION THIRTY-FIVE (35), TOWNSHIP SEVENTEEN (17) NORTH, RANGE THIRTY (30) WEST, BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS: COMMENCING AT THE SOUTHWEST CORNER OF SAID 40 ACRE TRACT, SAID POINT BEING IN TOWNSHIP ROAD AND FROM WHICH AN EXISTING REFERENCE IRON ON THE APPARENT NORTH RIGHT-OF-WAY LINE OF SAID ROAD BEARS N0000015011E 25.00 FEET; THENCE N00000'50"E 651.56 FEET TO A SET 1/2" IRON REBAR FOR THE TRUE POINT OF BEGINNING; THENCE S89057'45"E 236.71 FEET TO A SET 1/2" IRON REBAR AT THE BEGINNING OF A 124.28 FOOT RADIUS CURVE CONCAVE TO THE NORTHWEST; THENCE NORTHEASTERLY 140.68 FEET ALONG SAID CURVE, THE CHORD FOR WHICH BEING N42°02'22"E 133.29 FEET, TO A SET 1/2" IRON REBAR; THENCE N00038'45"W 43.03 FEET TO A SET 1/2" IRON REBAR AT THE BEGINNING OF A 46.44 FOOT RADIUS CURVE CONCAVE TO THE SOUTHWEST; THENCE NORTHWESTERLY 31.20 FEET ALONG SAID CURVE, THE CHORD FOR WHICH BEING N18°54'49"W 30.62 FEET, TO A SET 1/2" IRON REBAR ON THE SOUTH LINE.OF WESTWIND SUBDIVISION, PHASE II, TO THE CITY OF FAYETTEVILLE, ARKANSAS; THENCE S89059'00"W 315.51 FEET ALONG THE SOUTH LINE OF SAID SUBDIVISION TO AN EXISTING IRON; THENCE S00°00'50"W 170.75 FEET TO THE POINT OF BEGINNING, CONTAINING 1.21 ACRES, MORE OR LESS, WASHINGTON COUNTY, ARKANSAS. THE ABOVE DESCRIBED 1.21 ACRE TRACT BEING SUBJECT TO ANY EASEMENTS AND/OR RIGHTS-OF-WAY WHETHER OR NOT OF RECORD. File Number: 201000035049 Page 3 of 3 S FILEC FOR R`CORO EASEME96 NOU 12 flii 9 `I7 NT WASHINGTON CO AR K.N +iii. -SS STATE OF ARKANSAS ) KNOW ALL MEN BY THESE PRESENTS; COUNTY OF WASHINGTON That for and in consideration of One Dollar ($1.00) and other good and valuable consideration, paid to the undersigned Clark C. McClinton and Marie McClintonhusband and wife Grantor, the receipt of which is hereby adToMedged, the said Grantor does hereby grant, bargain, sell and convey unto M. Cad Covey, Grantee, his successors and assigns, a permanent utility easement with rights of ingress and egress to and from the same, on, over, across and under the following described real estate, to wit: lvtue 1111;W493 Located in the SETA of the SEA of Section 35, T -17-N, R -30-W, as described in Deed Book 995 Page 87 of the records of the Circuit Clerk, Washington County, Arkansas. ;' • Commencing at the Southwest corner of the Southeast Quarter (SEA) of the Southeast Quarter (SEV4) of said Section Thirty -Five (35), and running thence East - 354.50 feet; thence North - 250 feet; thence East - 105.49 feet to the point of beginning, thence North 220'50' West - 280.89 feet; thence North 2'22'31' West - 294.60 feet; thence East - 38.22 feet; thence South - 575 feet; thence West - 14.51 feet to the point of beginning, containing 0.35 aures, more or less. The cash consideration hereinabove mentioned is paid by Grantee and accepted by Grantor as full and total payment for the easement, and for all other rights and privileges hereinabove set forth. TO HAVE AND TO HOLD the above described easement and rights unto said Grantee, its successors and assigns, forever or until said easement is finally abandoned. AM we, _ Clark C. McClinton and Marie MCQinton husband a6d wife for and in consideration of the sum of money, do hereby release and relinquish unto the said Grantee all our right of curtesy, dower and homestead in and to the said lands. IN WITNESS WHEREOF, the hand and seal of Granto is hereunt set, this day of a 199_. G' ACKL40WLEDGMENT STATE OF ARKANSAS ) COUNTY OF WASHINGTON) BE IT REMEMBERED, that on this date, before me, a Notary Public within and for. said County and State, duly commissioned land acting, personally appeared Clark C. McClinton and Marie McClinton husband and wife to me well known as the person(s) who executed the foregoing easement, and that 4ht.41,_Jtad executed the same for the consideration and purpose therein mentioned and set forth. WITNESS my hand and seal on the day of'Ilk(�/t� 199 . My Commission Expires: ac0q / Notary Public U:' ?..•%: ' Q= RY • `= 40 SURVEY:F196701:McCLIN70N.FAS:jm , L �,.�• 960 - •'��'�y/N�Tdx 71043 EASEMENT MAP Permanent Easement Proposed 15!40 sq !t. or 0.35 Acres WEST — 120' "fASr.... PONCR POLE PROPOSED PERMANENT EASEMENT CD 0, .. C40, L 3 .. MCCLINTON o 995-87 rSI . y POWER POLE CCNmR UNE COSRNO 02MAD EUCTRIC UNE (OSNCIE MC CO.)r . M q C4 . b N SW CORNER SE 1\4, S£ 1\4 WEST SECnON 35 ... 14.51' EAsr — 1 o5. ts' / %17-N , R -JO -W FAST - 120' A ST s+r TOWNSHIP ROAD, 96071044 ' IF I ZG I W-UNW, - ,,Ml "A N� It 'A 11 1111 11. r,2, w Oj BE— I W W A`111111'111.�111 ro -_4 'a'A", M."IFF 'A P, I e GT7 ------- ------- 071TIN-_ Frte:� = J r 41-01. 11D -5A 00 ""�J Sag .... . sst coo w` .fB_ ,SAO, 'COG 97 T/- E"CX U15CRIETInSI - QE 11 • A PACT OF TIE SOWTFEASI ODARTEI 619; IcZs FED mal LA OUMBIER (SEI/�) OF SECTION NFPY SEI/4, GI THE SOLIFILA11 tG ICVENTEEN B11- (17) HQPT.. PANCE TIRTY (30) WE BE' ADJUSTED NPACI -0RAM N' M CORNER .1 DESCRIBED ASFOLLOWS: CONIIENO IGHT el'G THE 11 El.FIICUVPLr 6 SAG �G ACRE IGACI, RAG IN IOIISIP PDIG AND FROM H E IN KPIN I EH" -C IEY611IG REFERENCE IRON 01 IN APPARE t2 FIGHT -Of -WAV LINE OF SAID ROAD BEARS 10TOO50-17 25- FEE IT: •vee LINE 0 SAID I.EIGE -52 221 70D OD FEE' ALONG TIE SDUI1 -D -1 IRA 1 10 111 IGLI REN. .1 EGINIANG. 11 1.- BEING IN TOWN 'IF SN:PPNOPD GAA'�DFPOM r'�CHWAAN EITSTING RLFE.P�E%EGIRON ON "I AP A C IT G CH, 0 _ LINE Or SAO 1AIS _G. NDT L N N5C' 25.00 FEET: TKNTE IESS222_E -Ge rrE, To A pO,FI _=P R AD AND FROM WICI AN LISTING ITEFERENCE INCH ON • ENG NORTH ANDD LINE OF SAID READ BEARS S89'57 45"E 15- 1 T 23 .7 ITOD .1C 21TO 1E1IF THENCE LEAVING I.E SOUTH LINE OF SAID 4. ACRE TRACT. NCO `E 25000 FEET 70 A SET 112" IRON RE— A`CS._ - - -- - -- I.EICE leg S2 22'E Ill 50 FEET 70 11 F.5II1G IRON THENCE IRACT B NQTDT 571.62 TEE' 10 A SOL 1/2" I'D' IEDIP 01 TIE SOWN OF %EST K SWC -1- PHASE 11. TO TIE CITY or FAYETTEVILLE. AC S; THENCE 589 59GO'W 2IF93 FEET ALONG THE 11 LINE 11 AID 11 B -CON TO � SIT 11V IRON BEEAR: THENCE SED1.1. , ", " (PON FEPAR; THENCE i CYCBe- IS . C, 11-0 FEET NO A SET !11'2� �P � 0 EL I A I REAR: HENCE I.D.0 = 415CO FEET T-0 A PE�,Nl 111CHONAISS IN A - ISIORY 1 EE THENCE IF95959'E 199.53 FEEI IG AH EPISNIC IRON: THENCE SOTO 36'Z 249- FEET TO THE POINT Or SECINNINS, CONIAININS AABOVEI I �5 -RES. MORE OR LESS. WASHICTON COMITY. ABL AS, THE -, DESCRIBED 1 15 ACRE 'PACT BEING GDOJECI 10 TIE AW WBlGHT-OLF-111 OF 7 INSIR ABIG ILGHT 11E SOWHERNIO 7 RR S Vi OT DAY, AND ANY OTHER EASEMENTS ANTI FLNT ES- OF -WAY 4, 1 R, .EIIER OR 107 IF RECORD. A PART o' I" "TIE" """ IS""' " THE ' " " OLAIRIOR (SElm OF SRETC,1 I.RTY FIVE (11). 1TYNGM!.R (17) OMHA RANGE 71IRTI (NT) WEST, BEING MORE PARDIL-LY DESCRI'SED ' POLL 61 C. -SLICING AT 'HE MORE CORNER OF SAID 10 ACRE IIAE . SAID Ill 11- N KA AND 1I.L. It. A. E _ - REFEGE. I IRON ON ILE IRMAPIMI N.FIN il -CF-WAI LIN, OF 'A' READ S- NGENOTI -1 21DT FEEP: T,%ICE kee-52 22'E 200 OD rTET ALONG I, S LIN LINE 01 SIT 10 ACRE TRACT 70 THE TRIC POW OF BEC11,11C "' 'IT"' "NO 1 -6- AO INS FIG. W.TC. A. REFERENCE ,ON EN TIE IPPIREIT IFINI LIE or SAID HOME, SEARS 'FOCTOB 50' 25- FEE7: THENCE 129 52 22'E �96E FEET 10 IRON ,I I SHIP READ AND FROM WHICH AN EWISNIC REFERENCE IRON ON 7, E APFIREIT NORTH PCIFT-OF-WAY L" OP SAO BOAD BEAR IWO 43E 25- FEV: THENCE LEAVING THE SOW( LINE OF SAID ID ACRE TRACT. NCITGR -C 250.00 FEET TO A SET I/2" IRON RE— THENCE 159'52'22'E I0N.50 FEET 70 11 EIISNL�, ON: THENCE KZGO i I 'N 521.62 'ELL TO A SET 1/2' 'PON 1EEA1 I THE SON. LINE OF WESTING SUCESIGION, PHASE 1!610 1. , "" .1 FINE— LE. ATTLANSiS. THENCE -59 Q� 3S 99 FEET ALONG THE SOW. LINE OF SAID INWSAOI TO A SET /2' IRON REBAR ELL 1 16.44 FOOT RAD"LECUR" CONCAVE TO THE SOLTNPTST: THENCE Soul, EASTERLY 3 0 FEET 'LONG CURVE. THE CHORE ITT WHIC. BEING I' _, , S1 30.12 FEET. 10 A 111 1/1' IRON REBAW 7 ONCE 500'38 WE .3.03 FEET TO A SIR 112" RON BEEAR AT THE a EONNII 01 1 1+25 FEET RADIUS CURVE CC E INE NORTHWEST: NWEST: THENCE SOW11ESTE 110.68 FEET CURVE. TIE CHDFD FOR ANICI BEING S-07 22"W 133,29 PUT 10 A SET ,/2� 'PON =FRE11F TIENCFGS El N11PS1*,I'W 2-11 FEET 10 A SET 112- '. 01,16 FEET IF A POINT WHICH LAN11 NSA .'INGE HICKORY TREE: HE NCI NeS le ISPE I99,11 FEET 10 AN ElIS71IG IRON, ENCE SOU05 G6 'I' R 249,16 FEET TO 1.1 POING 01 BEGINNING. ETINTAINIC 3.73 ACRES. 1111 11 LESS. 1AIIIII IS' COLD- YANSAS HE ABOVE DCSCGISIG ACRE "A', BEING SUNDEC, AR To TIE F�GNT_G,_ OF 'GIN_R - ALONG THE SOUTIERNIOST COUKIRY AID ANY 071EP [AS "'N" ANG/GI R PRIS-OF-WAY' WHETHER OR NOT OF RECORD. VICINITY MAP IT 1/1TOWNS11111 ROAI) L OCA 009 -ACF° -C T -11 -LIF IMLIHILI. IS PIT Dr N ADJiJSICD PSACT 'A* G.73i ACINES .N11 FRON 15 FEET PSI— 11-1 --71 IXIS '.I' t 11E IS-.11 I- -11IL REAR 15 1 C7 SIDE 5 FEET - E' LIE iL "" '"' C- GR 11 E 11 q. 11.1-11. -IR I IE. 711 I IS"11 . EX15T IRON IN' COIRSTE 95E S is ,P I II- C111 A' 1210G c , J ITSET I CARL Co T., L'S, C, 7" FELL-rAs, 17ER 7 " -15925-GOC I-LCIN It, s.0 CHISLED -'A' TELERFIXE PECESIAL ISE,/�) OF 'E" "'` ELN r-17CIIIE AIR 72703 PO',',EP POLE Ile) NGFII. I�ICE IH17Y (IS) IESI� PON, MORE 1E SED AS IGLIQ11 lGW1EIICI1G AT I., •l, !PPII 11'.2 _-CT lliRl MZRE I13FC1 G PP INAC' F IIMBS CC""' OF ' � I' 11 -I -In 11-C ALI �2N'.Ul ... Cr 1 A, -C FPE C', 11 el Ill IS- S, NOT PART OF SURVEY 51 ACRES -TER 1111ER LNES 52 C; 22 E 52 22-. i -L E AR E FIRE HYD11IFT FOFG F -S NQ0N0E�!0E 250D rEEL, PtA. P"'. :401 IEE- 7kiE -I I IF! Or 11 1, SC _1 c1IRT1- 6. NOT PART OF SURVEY Ill 10 A 5. 1/1 5 - IRS -4 PEIA- CO1 IF[ 1- 1GFN 11: ti, CrF 70 4 tl; 1/P- Ic 1-1 POP -HE !RL P -T Fc1741 OF t- -7 _111E MI. 1011- SEqN71EN 01 41_ P. I I—. GAS INSIEF A r� N:c 57 CP u 2zr tE7 1/, PC', �EERP -EC PA- O -c (�71 3-17, K) V.' .PUN'. -11 11 1-I-ENCIC AT -E E�15 1 IPO�I REPAIR I N 5 G11-11. IFE14E NE-11SI-1 IVCCSS A". F�IG IC71T OOTIPLGEG PO',7 ALIN 11 SA C I, IHE CH- 1.5 A.:C. IS.7:1 c -F7. 7"E C n IqR - -1. -.-:1- R:1� I 11111�E REFERENCE IIIEP VANE 21,212-t FEEL. TO A SET �/2_ ICIN A -P. -.CE -- a3039 rL LT L. A RE' RES" C:::: ,.'L C lm�S Rl EE -1.1E 1.11 TOP 'TIE m 'ELEPHOt!E EC, 7 FI -S C111 CR'. -I 1. IC G, rT,,, - - - CEIl!1ER,II:F RlID ;CC SIEF11 3, :G FEET -IX SAD ZF_c3ulN'HE CIO L, PC , SING 1117, 2c 'Ir :- C_- 1-i I— CL . -.G 3- C-_rE - IF' I IL C, 'E 3 S' IE 1 11 A SIT :11 - - - - --f--t E - nl EE' 'D t, SET - - - A - G I .. 'AAC, A, I SC !/2' -1 1-1 ELL 1-1 S-1 t-tmE GI 'Esill 'S - 'E'.. PHASE % ID T- CGI OF -_-'LLE, ARIII:R�- �E A F, , 'E- I- I—— -C 1-11 GLERHEAE 1-7-1C I !.E i� 7- -E LZ 11'. TO All 11 --E'.Cl E7 11 IEU TI All EFSIII. P.11 I -R: "'f -E 5a .1 ;R -E C. Z� 7: --1 mc. .� " EE" , . - , , :1 ILEI F -E Ft-'-- LLX CF __E 4 'ILI: I �r �, 11LPI I IPIS C. LINE L111 222TG, a�. R, :z 11 _'. �'R. C_� I., PA. 'El CI . .�_C A-1 It— ?'� C RE il' IlEll F".I, PROPER-. L 51� ACRE IFI -T FFL!,� 5-81- TC R., 115AG FIFEI,IF Illn/FP F--F -11 I -EI -ER OR 1:1 OF EI.El AG,- 1,1_� A PART o' I" "TIE" """ IS""' " THE ' " " OLAIRIOR (SElm OF SRETC,1 I.RTY FIVE (11). 1TYNGM!.R (17) OMHA RANGE 71IRTI (NT) WEST, BEING MORE PARDIL-LY DESCRI'SED ' POLL 61 C. -SLICING AT 'HE MORE CORNER OF SAID 10 ACRE IIAE . SAID Ill 11- N KA AND 1I.L. It. A. E _ - REFEGE. I IRON ON ILE IRMAPIMI N.FIN il -CF-WAI LIN, OF 'A' READ S- NGENOTI -1 21DT FEEP: T,%ICE kee-52 22'E 200 OD rTET ALONG I, S LIN LINE 01 SIT 10 ACRE TRACT 70 THE TRIC POW OF BEC11,11C "' 'IT"' "NO 1 -6- AO INS FIG. W.TC. A. REFERENCE ,ON EN TIE IPPIREIT IFINI LIE or SAID HOME, SEARS 'FOCTOB 50' 25- FEE7: THENCE 129 52 22'E �96E FEET 10 IRON ,I I SHIP READ AND FROM WHICH AN EWISNIC REFERENCE IRON ON 7, E APFIREIT NORTH PCIFT-OF-WAY L" OP SAO BOAD BEAR IWO 43E 25- FEV: THENCE LEAVING THE SOW( LINE OF SAID ID ACRE TRACT. NCITGR -C 250.00 FEET TO A SET I/2" IRON RE— THENCE 159'52'22'E I0N.50 FEET 70 11 EIISNL�, ON: THENCE KZGO i I 'N 521.62 'ELL TO A SET 1/2' 'PON 1EEA1 I THE SON. LINE OF WESTING SUCESIGION, PHASE 1!610 1. , "" .1 FINE— LE. ATTLANSiS. THENCE -59 Q� 3S 99 FEET ALONG THE SOW. LINE OF SAID INWSAOI TO A SET /2' IRON REBAR ELL 1 16.44 FOOT RAD"LECUR" CONCAVE TO THE SOLTNPTST: THENCE Soul, EASTERLY 3 0 FEET 'LONG CURVE. THE CHORE ITT WHIC. BEING I' _, , S1 30.12 FEET. 10 A 111 1/1' IRON REBAW 7 ONCE 500'38 WE .3.03 FEET TO A SIR 112" RON BEEAR AT THE a EONNII 01 1 1+25 FEET RADIUS CURVE CC E INE NORTHWEST: NWEST: THENCE SOW11ESTE 110.68 FEET CURVE. TIE CHDFD FOR ANICI BEING S-07 22"W 133,29 PUT 10 A SET ,/2� 'PON =FRE11F TIENCFGS El N11PS1*,I'W 2-11 FEET 10 A SET 112- '. 01,16 FEET IF A POINT WHICH LAN11 NSA .'INGE HICKORY TREE: HE NCI NeS le ISPE I99,11 FEET 10 AN ElIS71IG IRON, ENCE SOU05 G6 'I' R 249,16 FEET TO 1.1 POING 01 BEGINNING. ETINTAINIC 3.73 ACRES. 1111 11 LESS. 1AIIIII IS' COLD- YANSAS HE ABOVE DCSCGISIG ACRE "A', BEING SUNDEC, AR To TIE F�GNT_G,_ OF 'GIN_R - ALONG THE SOUTIERNIOST COUKIRY AID ANY 071EP [AS "'N" ANG/GI R PRIS-OF-WAY' WHETHER OR NOT OF RECORD. VICINITY MAP IT 1/1TOWNS11111 ROAI) T -11 -LIF IMLIHILI. IS PIT Dr ASSTIED .N11 FRON 15 FEET PSI— 11-1 --71 IXIS '.I' t 11E IS-.11 I- -11IL REAR 15 1 C7 SIDE 5 FEET - E' LIE iL "" '"' C- GR 11 E 11 q. 11.1-11. -IR I IE. I IS"11 . EX15T IRON IN' COIRSTE 95E S is ,P I II- C111 A' 1210G c TREE SANITARY 5EWER MANHOLE F UL)EY A RIFT G, THE CAST ALr NLI/2) OF THE SCII.EASI CLIFIEF I CARL Co T., L'S, C, 7" FELL-rAs, 17ER 7 " -15925-GOC I-LCIN . o CHISLED -'A' TELERFIXE PECESIAL ISE,/�) OF 'E" "'` ELN r-17CIIIE AIR 72703 PO',',EP POLE Ile) NGFII. I�ICE IH17Y (IS) IESI� PON, MORE 1E SED AS IGLIQ11 lGW1EIICI1G AT I., •l, !PPII 11'.2 _-CT lliRl MZRE I13FC1 G ELECTRIC TAE T CC""' OF ' � I' 11 -I -In 11-C ALI �2N'.Ul ... Cr 1 A, -C FPE C', 11 el -TER 1111ER ;GRPH IF x Or "A, li�!Elj Ij.1 1-1 I� L� I.ZAi i -L E AR E FIRE HYD11IFT FOFG F -S NQ0N0E�!0E 250D rEEL, PtA. P"'. :401 IEE- 7kiE -I I IF! Or 11 1, SC _1 c1IRT1- C) SET 1/2 LRDN PEEAR Ill 10 A 5. 1/1 5 - IRS -4 PEIA- CO1 IF[ 1- 1GFN 11: ti, CrF 70 4 tl; 1/P- Ic 1-1 POP -HE !RL P -T Fc1741 OF t- -7 _111E MI. 1011- SEqN71EN c GAS INSIEF OI -11!G, TIE' :E I'S 57'�5 '6.71 FEET TO A TET I/' PER- OF A - 21 IC 11Z S CURE SEE r� N:c 57 CP u 2zr tE7 1/, PC', �EERP -EC PA- O -c (�71 3-17, K) V.' .PUN'. -11 11 1-I-ENCIC AT -E E�15 1 IPO�I REPAIR I N 5 G11-11. IFE14E NE-11SI-1 IVCCSS A". F�IG IC71T OOTIPLGEG PO',7 ALIN 11 SA C I, IHE CH- 1.5 A.:C. IS.7:1 c -F7. 7"E C n IqR - -1. -.-:1- R:1� I 11111�E REFERENCE IIIEP VANE 21,212-t FEEL. TO A SET �/2_ ICIN A -P. -.CE -- a3039 rL LT L. A RE' RES" C:::: ,.'L C lm�S Rl EE -1.1E 1.11 TOP 'TIE m 'ELEPHOt!E EC, 7 FI -S C111 CR'. -I 1. Er�,,'',�. I-F 'E Cl TC 7 E rT,,, - - - CEIl!1ER,II:F RlID ;CC SIEF11 3, :G FEET -IX SAD ZF_c3ulN'HE CIO L, PC , SING 1117, 2c 'Ir :- C_- 1-i I— CL . -.G 3- C-_rE - IF' I IL C, 'E 3 S' IE 1 11 A SIT :11 - - - - --f--t E - nl EE' 'D t, SET - - - RGHT-OF-Al L I SC !/2' -1 1-1 ELL 1-1 S-1 t-tmE GI 'Esill 'S - 'E'.. PHASE % ID T- CGI OF -_-'LLE, ARIII:R�- �E c r:-, 'ES I— % - :, � E, � -7 P. -E 1� A:E,.E F, , 'E- I- I—— -C 1-11 GLERHEAE 1-7-1C I !.E i� 7- -E LZ 11'. TO All 11 --E'.Cl E7 11 IEU TI All EFSIII. P.11 I -R: "'f -E 5a .1 ;R -E C. Z� 7: --1 mc. .� " EE" , . - , , :1 ILEI F -E Ft-'-- LLX CF __E 4 'ILI: I �r �, 11LPI I IPIS C. LINE L111 I Is, FEE' 11 �1, I'D I FEE,- '.CE 5Q1TitN-u 1-1 St -IN E. lj '. I.G C -P t111:111. -ANE-- III a�. R, :z 11 _'. �'R. C_� I., PA. 'El CI . .�_C A-1 It— ?'� C RE il' IlEll F".I, PROPER-. L 51� ACRE IFI -T FFL!,� 5-81- TC R., 115AG FIFEI,IF Illn/FP F--F -11 I -EI -ER OR 1:1 OF EI.El C "Li17 PAG 17 E $10 _�A Ar yUll d r f 4D�IUS 1, �.IiEA; Proposed Tank Site: Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at a point 354.5 feet East and 250 feet North of the SW corner of said forty acre tract and running East 120 feet; thence North 90 feet; thence West 120 feet; thence South 90 feet to the point of beginning, containing 0.25 acres, more or less. Proposed Permanent Access Easement: Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at the point on the North right of way line of Township Street which is 200 feet East and 25 feet North of the SW corner of said forty acre tract; thence North 255.00 feet; thence East 154.5 feet; thence South 30 feet; thence West 104.50 feet; thence South 225 feet; thence West 50.00 feet to the point of beginning, containing 0.37 acres, more or -less. Proposed TCE (Laydown area): Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at a point East 200 feet and North 250 feet from the SW corner of said forty acre tract; running thence West 120 feet; thence North 150 feet; thence East 120 feet; thence South 150 feet to the point of beginning, containing 0.41 acres, more or less. (note: these are the dimensions as shown on the plat; however, they do not match the square footage or acreage shown so that may need an adjustment.) Proposed TCE with Access to Tank.Site: Part of the SEX of the SEX of Section 35, Township 17 North, Range 30 West, Washington County, Arkansas, being more particularly described as follows: Beginning at a point 200 feet East and 280 feet of the SW corner of said forty acre tract and running thence North 110 feet; thence East 275 feet; thence South 50 feet; thence West 120 feet; thence South 60 feet; thence West 154.5 feet to the point of beginning, containing 0.53 acres, more or less. ov o -o DWG: G:\Fayetteville\Teams\Survey\Land Projects 2018\FY374\FY374TownshipTankSite.dwg m > p DATE: Jun 21, 2018 7:39am XREFS: m Z n rn j o CO 0 D� Z ;u O Z \ 00� m o-DC0O \\ NO`,2� 00m \ .I �m OZo \v Com:•• CD z m USER: gdenzer m r DZD \\ N�,'j.y.5 o z mr---"----- ----- U) IJ PL-----�--- a V -� ID �� _U I 1 � O\ \I O I�I O I o \ 1 O I U I o 0 0 C �O NO RN\ \\ \ \ \�\ •\\ \ \ \Q I �� \\ m z I m I I y g \\ \\ \ \\ \\ \ ?Tom \ \ \\ \\ Cf) m(n I m \\1 m X Z = I Z I o \\ \\ \ \\ \\ N�oo \\ \\ \\ \ Z �\I Z (n 130 I= Z 8" o : r?': I z Dr^ti rn oo : %:..:'f :.'c:.: r,:�> EXISTING e o .=...:: {,t.k.`��'.t;4: •s;h:�ti�=;�s1.4 SPHAI T QgIVT D _ a rvl r:'� ti J u r� ® q m fy'' ^•y..,_ 0O '!i: {r.I•'ti.J -.,t•.�'�fi4mary�..,...::..r.- 1 D I = 9= l z Na '•' r'S:s `�'1:`v m>o Ln rr 0 -------- id— it qui I _ •'` �...s.— wad a$ _i;�'.k.jl'•C �:t. CIA O N •`i l'.:C' '.i�:I':�. �-•A 400o mac ��• ?f �� oOz o ld w a v 25' EASEMENT ------ a c Aa I ----- _.— J I p A N O I N� mo 9. x I EP � I oz m s ---tea,--- --.--. i Comparable Sales Map i � a .ss E.{y ks cAhd : Spnrs±� Gffe1 Cenf!e `fi. 3 r Pcradiac valley r-8-71 � z Aihle«C Club xs y F, --sl ��,� "•� sssT wle f't1aPfi,� o * Re�iaaa! " F� "%' �ded:c�` veate• ��' xes 3 eT _ Sale No. 2 L5 Sale No. 4 xi oo .ems t� � s xas Sale No« '1 Sale .No. 3 351 45 C �, 332t r4---1 Gulle - Gultey Park ® zsaz Ts a scFs y Subject Property w § my 7s eM� Q v aso rille r �� zssa Ts r ws F3 -7 u o N Write '3i � ' ElJOEI°+fit c� 2 ]>iG A4p d:1a f"�TF, C•aa�•e 'S'p LAND SALE 1 GENERAL INFORMATION General/Specific Type: Residential Record #: 1942 Location: NEC of N. Old Wire Road Book/Page: 2015/1409 City: Fayetteville County: Washington State: AR Parcel(s): 765-16059-000; 765-16051-000 S -T -R: 36-17-30 Lot/Block: N/A Subdivision: Fayetteville Outlots Legal: Tract 1: Pt of the SW 1/4 of the NEI/4 and part of the NW I/4 of the SEI/4 and part of the NEIA of the SW 1/4 of 36-1.7-30. Tract 2: Pt of the SW 1 /4 of the NEI/4of 36-17-30. - - ---................... --...... -................................... :-..... ... ........... ............ .............................. SALE INFORMATION Sale Date:- January 15, 2015 Financing: Cash to Seller . Sale Price: $312,000 Conditions of Sale: Arm's Length Adjusted Sale Price: $312,000 Exposure Time: 178± Days Grantor: Oak Manor Christian Church Trustees Rights Conveyed: Fee Simple Grantee: E. Marie Kilgore, Trustee of the E. Marie Verification: MLS; Washington County Circuit Kilgore Revocable TrustClerk .......................................................................:..........::...................................::..........................----................-- ..... . . . --- -- ..................... PROPERTY INFORMATION Gross Land Size_: 4.730± Acres; or 206,039± SF Indicators Total Frontage: Old Wire Road and Old,Missouri Sale Price/Gross Acre: $65,962± Road Zoning: RSF-4, Res. Single-family - Four Units per Sale Price/Gross SF: $1.51± Acre Topography: Gently Sloping Adjusted Sale Price/Gross Acre: $65,962± Utilities: Typical City Adjusted Sale Price/Gross SF: $1.51± Highest & Best Use: Residential Use ..................................................................................... ...- . . ....--................................---------..........................-----...--- --- . . ----- . Remarks: This property represents a 4.73± acre site located at the northeast corner of North Old Wire Road and Old Missouri Road. The previous owner was Oak Manor Christian Church. The listing agent (Jeff Pederson) indicated that the improvements did not contribute. value LAND SALE 2 GENERAL INFORMATION General/Specific Type: Residential Record #: 2114 Location: 2251 E. Farr Lane Book/Page: 2016/10361 City: Fayetteville County: Washington State: AR Parcel(s): 765-16065-015 S -T -R: 36-17-30 Lot/Block: N/A Subdivision: N/A Legal: Pt of the NW l/4 of the NEI/4 of 36-17-30 ..-..........- - .................. ...... - SALE INFORMATION Sale Date: April 15, 2016 Financing: Cash to seller Sale Price: $466,750 Conditions of Sale: Arm's-length Adjusted Sale Price: $466,750 Exposure Time: 804± days Grantor: JTK Trust Rights Conveyed: Fee simple Grantee: JHawk Properties, LLC Verification: Mitch Weigel (Realtor); Washington ......................................................................................•-.............------------.................................-...........----............-----.............................------......------...........-............ County Circuit Clerk: MLS---------------------- PROPERTY INFORMATION Gross Land Size: 5.540± Acres, or 241,322± SF Indicators Total Frontage: E. Farr Lane Sale Price/Gross Acre: $84,251± Zoning: RSF-4, Res. Single-family - Four Units per Sale Price/Gross SF: $1.93± Acre Topography: Gently sloping Adjusted Sale Price/Gross Acre: $84,251± Utilities: Typical city Adjusted Sale Price/Gross SF: $1.93± Highest & Best Use: Residential development ........................... ......................................... .... ...... .. -- Remarks: This property represents a 5.54± acre site located south of E. Farr Lane, east of N. Old Missouri Road in Fayetteville. The property represents 5.54± acres of an overall 50+ acres that are being marketed. LAND SALE 3 GENERAL INFORMATION Genera ]/Specific Type: Agricultural/Residential Record #: 2318 Location: North side of Skillern Road Book/Page: 2018/7269 City: Fayetteville County: Washington State: AR Parcel(s): 001-15611-002 S -T -R: 31-17-29 Lot/Block: Subdivision: Legal: PT NE 2.00 Acres: Part of the SE 1/4 of the NE 1/4 of Section 31, T17N, R29W, Washington County'Arkansas .................... -------------------------------------------------------------- ................. -------------------------------------- ................... ..............................---...........-----------------------------....---------------...... SALE INFORMATION Sale Date: March 14, 2018 Financing: Market Terms Sale Price: $195,000 Conditions of Sale: Arms-Lengtb03/14/2018 Adjusted Sale Price: $195,000 Exposure Time: Unknown Grantor: Reece Parham Rights Conveyed: Fee Simple Grantee: William M. & Abigail Rogers Verification: Washington County Circuit Clerk PROPERTY INFORMATION Gross Land Size: 2.000± Acres, or 87,120± SF Indicators Total Frontage: 182'±, Skillern Sale Price/Gross Acre: $97,500± Zoning: AG/SF, Ag/SF Res l unit/acre Sale Price/Gross SF: $2.24± Topography: Sloping Adjusted Sale Price/Gross Acre: $97,500± Utilities: Typical City, no sewer Adjusted Sale Price/Gross SF: $2.24± Highest & Best Use: Residential Development ............................ ... ...............-----------------..............-----------------------... Remarks: Located along the north side of Skillern Road. The site is located just outside the City of Fayetteville City Limits, however is located within Fayetteville's Planning Area. The site was purchased for residential development. LAND SALE 4 e P Al 4 • . 4 �{ x GENERAL INFORMATION General/Specific Type: Residential Record #: 2156 Location: East of North Oakland Zion Road, north of Mint Book/Page: 2017/34397 Boulevard City: Rural County: Washington State: AR Parcel(s):, 001-15576-001 S -T -R: 29-17-29 Lot/Block: N/A Subdivision: N/A Legal: Pt. SE 1/4 SW 1/4 Section 29 ..... Township 17N, Range 29W, Washington County, Arkansas SALE INFORMATION Sale Date: November 10, 2017 Financing: Market Terms Sale Price: $184,370 Conditions of Sale: Arm's Length Adjusted Sale Price: $184,370 Exposure Time: 60± Days Grantor: Ozturk Investments, LLC Rights Conveyed: Fee Simple Grantee: Joseph Timothy Smith and Cristy C. Verification: Listing Broker (Margie Moldenhauer) Smith .•.................................................................................................................-........ ... . ----........-------.........................................---.......--.------.......... ----........ PROPERTY INFORMATION Gross Land Size: 2.630± Acres, or 114,563± SF Indicators Total Frontage: See Remarks Sale Price/Gross Acre: $70,103± Zoning: Ag/SF Res 1 unit/acre Sale Price/Gross SF: $1.61± Topography: Near level to Gently Sloping Adjusted Sale Price/Gross Acre: $70,103± Utilities: No Sewer Adjusted Sale Price/Gross SF: $1.61± Highest & Best Use: Residential ........... ... ............................ .........------------...--------------.....................--.........-- . ..........---............... .------------.-. ---. - ............. ...--......................................... Remarks: This represents the sale of a 2.631 acre lot east of Oakland Zion Road, in rural Washington County; this location is just east of the Fayetteville City Limits. The lot is accessed via a shared gravel drive that also provides access to other lots in the area. The lot was purchased for construction of a single-family residential dwelling. ASSUMPTIONS AND LIMITING CONDITIONS This Appraisal Report has been made with the following general assumptions: 1. No responsibility is assumed for the legal description or for matters including legal or title consideration. Title to the property is assumed to be good and merchantable unless otherwise stated. The property is appraised free and clear of any or all liens or encumbrances unless otherwise stated. Responsible ownership and competent property management are assumed. 4. The information furnished by others is believed to be reliable. However, no warranty is given for its accuracy. All engineering is assumed to be correct. The plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. 6. It is assumed that there are no hidden or unapparent conditions of the property, subsoil, or structures that render it more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them. 7. It is assumed that there is full compliance with all applicable federal, state and local environmental regulations and laws unless noncompliance is stated, defined, and considered in the appraisal report. 8. It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined, and considered in the appraisal report. 9. It is assumed that all required licenses, certificates of occupancy, consents, or other legislative or administrative authority from any local, state, or national government or private entity or organization have been or can be obtained or renewed for any use on which the value estimate contained in this report is based. 10. It is assumed that the utilization of the land and improvements is within the boundaries or property lines of the property described and that there is no encroachment or trespass unless noted in the report. I I . "Unless otherwise stated in this report, the existence of hazardous materials which may or may not be present on the property was not observed by the appraiser. No responsibility is assumed for any such conditions or any expertise or engineering knowledge required to discover them. The client is urged to retain an expert if desired." This Appraisal Report has been made with the following general limiting conditions: The distribution, if any, of the total valuation in this report between land and improvements applies only under the stated program of utilization. The separate allocations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 2. Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be used for any purpose by any person other than the party to whom it is addressed without the written consent of the appraiser, and in any event only with proper written qualification and only in its entirety. 3. The appraiser herein by reason of this appraisal is not required to give further consultation, testimony, or be in attendance in court with reference to the property in question unless arrangements have been previously made. 4. Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser, or the firm with which the appraiser is connected) shall be disseminated to the public through advertising, public relations, news, sales, or other media without the prior written consent and approval of the appraiser. The Americans with Disabilities Act (ADA) became effective January 26, 1992. I (we) have not made a specific compliance survey and analysis of this property to determine whether or not it is in conformity with the various detailed requirements of the ADA. It is possible that a compliance survey of the property together with a detailed analysis of the requirements of the ADA could reveal that the property is not in compliance with one or more of the requirements of the act. If so, this fact could have a negative effect upon the value of the property. Since I (we) have no direct evidence relating to this issue, I (we) did not consider possible noncompliance with the requirements of ADA in estimating the value of the property. QUALIFICATIONS OF KATIE REED HAMPTON ;EDUCATION B.S.B.A. in Finance/Real Estate, Minor in Marketing -University of Arkansas, December 2006 PROFESSIONAL EXPERIENCE May 2008 -May 201 l —Research Assistant for REED & ASSOCIATES, INC., Fayetteville, Arkansas May 201 ]—Present — Appraiser Trainee for REED & ASSOCIATES, INC., Fayetteville, Arkansas Colliers International Branch Office — Commercial Real Estate/Development, 3739 N. Steele Blvd., Suite 322, Fayetteville, Arkansas — Sales Associate/Property Manager January 2007 -May 2011 — Commercial Coordinator for Streetsmart NWA, LLC, Fayetteville, Arkansas PROFESSIONAL AFFILIATIONS AND DESIGNATIONS Real Estate Salespersons License -Arkansas State Registered Appraiser — Arkansas — SR3642 Arkansas Chapter of the Appraisal Institute Member of the Northwest Arkansas Appraisal Section 1PROFESSIONAL COURSES COMPLETED Real Estate Principles — UA — 2005 Real Estate Investment & Appraisal — UA — 2006 Real Estate Finance — UA — 2006 Appraisal Institute — Chicago Chapter — Course OL -401 G — General Appraiser Sales Comparison Approach — December 2011 National Uniform Standards of Professional Appraisal Practice (USPAP) — 15 Hours — Russellville, AR Appraisal Institute — Chicago Chapter — Business Practice & Ethics - 2012 Appraisal Institute — Chicago Chapter — Basic Appraisal Principles - 2013 Appraisal Institute — Chicago Chapter — General Appraiser Site Valuation & Cost Approach — 2013 Appraisal Institute — Chicago Chapter — General Appraiser Report Writing — 2013 Appraisal Institute — Chicago Chapter — General Appraiser Income Capitalization Approach I — 2013 Appraisal Institute — Chicago Chapter— General Appraiser Income Capitalization Approach II — 2014 16 -Hour Uniform Appraisal Standards for Federal Land Acquisitions — Arkansas Chapter of the Appraisal Institute; Little Rock, Arkansas Appraisal Institute — Chicago Chapter — General Appraiser Market Analysis & Highest & Best Use — 2015 Appraisal Institute — Chicago Chapter — Eminent Domain and Condemnation — 2016 National Uniform Standards of Professional Appraisal Practice (USPAP) — 7 Hour Update — 2016 Appraisal Institute — Green Country and Ozark Mountain Chapter — Advanced Income Capitalization Approach — 2017 National Uniform Standards of Professional Appraisal Practice (USPAP) — 7 Hour Update - 20_18 ;CLI ENTELE Arkansas State Highway and Transportation Department O.R. Colan Associates Universal Field Services Cities of. Springdale, Fayetteville, Rogers, Lowell, Bentonville, Prairie Grove, Siloam Springs Carroll Electric Cooperative Corporation Various Water Authorities, Attorneys, Corporations, and Individuals Financial Institutions — Arvest Bank, Legacy National Bank, First Security Bank, Centennial Bank, Bear State Bank, United Bank, First Western Bank, lberiaBank, Bancorp South, Signature Bank, Cornerstone Bank, and others. RELEVANT COLLEGE COURSES Microeconomics, Macroeconomics, Principles of Marketing, Business Statistics, Real Estate Principles, Real Estate Investment & Appraisal, Real Estate Finance, International Finance, Financial Markets & Institutions, Financial Analysis & Valuation, Business Strategy & Planning, International Marketing, Market Research QUALIFICATIONS OF SHANNON REED MUELLER ;EDUCATION B.S.B.A. in Finance/Real Estate -University of Arkansas, 5-94 ;PROFESSIONAL EXPERIENCE May 2006 -Present — Certified General Appraiser for REED & ASSOCIATES, INC., .Fayetteville, Arkansas May 2005—May 2006 — State Licensed Appraiser for REED & ASSOCIATES, INC., Fayetteville, Arkansas April 2003 -May 2005 — Appraiser Trainee for REED & ASSOCIATES, INC., Fayetteville, Arkansas 1994 -April 2003 -Commercial Credit Analyst and Appraisal Review for First National Bank of Springdale, Springdale, Arkansas & First Tennessee Bank PROFESSIONAL AFFILIATIONS AND DESIGNATIONS Ozark Chapter of the Appraisal Institute Member of the Northwest Arkansas Appraisal Section State Certified General Appraiser — Arkansas — CG2302 Candidate for Designation, Appraisal Institute Arkansas Appraisal Licensing Board -2014 -Present, Chairman 2017, 2018 Springdale Planning Commissioner IPROFESSIONAL COURSES COMPLETED , Real Estate Principles — UA —1993 Real Estate Investment & Appraisal — UA — 1994 Real Estate Finance — UA —1993 RELEVANT COLLEGECOURSES Accounting Principles I & II, Business Law, Microeconomics, Macroeconomics, Financial Theory & Practice, Information Systems Mgt., Organizational Behavioral Theory, Strategic Management, Principles of Marketing, Business Statistics, Principles of Real Estate, Real Estate Investment, Real Estate Finance, Commercial Banking, Principles Of Banking & Finance CLIENTELE ____ Arkansas Department of Tourism Arkansas State Highway and Transportation Department Arkansas Game and Fish Commission O.R. Colan Associates Universal Field Services Cities of. Springdale, Fayetteville, Rogers, Lowell, Bentonville, Prairie Grove, Siloam Springs Southwestern Electric Power Company Carroll Electric Cooperative Corporation Tyson Foods, Inc. Various Water Authorities, Attorneys, Corporations, and Individuals Financial Institutions — Arvest Bank, Legacy National Bank, First Security Bank, Centennial Bank, Bear State Bank, United Bank, First Western Bank, Iberia.Bank, Bancorp South, Signature Bank, Cornerstone Bank, and others. PROFESSIONAL COURSES & SEMINARS COMPLETED Uniform Standards of Professional Appraisal Practice, (USPAP)—Russellville, AR -2003 Fundamentals of Real Property Appraisal — Russellville, AR -2004 Land/Site Valuation & Sales Comparison Approach —Russellville, AR -2004 Evaluating Residential Construction — Ozark Chapter of The Appraisal Institute, Bentonville, AR -2005 General Report Writing—Appraisal Institute, Chicago, IL -2005 National Uniform Standards of Professional Appraisal Practice, (USPAP Update) -Chicago, IL -2005 Eminent Domain and Condemnation —Appraisal Institute Seminar -2005 Basic Income Capitalization — Ozark Mountain Chapter of The Appraisal Institute, Rogers, AR -2006 Business Practices and Ethics — Ozark Mountain Chapter of The Appraisal Institute, Joplin, MO -2007 National Uniform Standards of Professional Appraisal Practice, (USPAP Update) -Joplin, MO -2007 General Market Analysis and Highest and Best Use — Green Country Chapter of The Appraisal Institute, Tulsa, OK -2008 National Uniform Standards of Professional Appraisal Practice, (USPAP Update) -Fayetteville, AR -2010 Appraising Distressed Commercial Real Estate — Ozark Mountain Chapter' of The Appraisal Institute -Rogers, AR -2010 Forecasting Revenue — Ozark Mountain Chapter of The Appraisal Institute -Rogers, AR -2010 Analyzing Rural Residential Outbuildings- Northwest Arkansas Appraisal Section -Fayetteville, AR -2010 Business Practices and Ethics — Ozark Mountain Chapter of The Appraisal Institute, Cassville, MO -2011 National Uniform Standards of Professional Appraisal Practice, (USPAP Update) -Rogers, AR -2012 Advance Income Capitalization -Little Rock, AR -2012 National Uniform Standards of Professional Appraisal Practice, (USPAP Update) -Fayetteville, AR -2014 Advanced Applications & Case Studies -Tulsa, OK -2014 Business Practice & Ethics -Bentonville, AR -2014 16 -Hour Uniform Appraisal Standards for Federal Land Acquisitions — Arkansas Chapter of the Appraisal Institute; Little Rock, Arkansas National Uniform Standards of Professional Appraisal Practice, (USPAP Update) -Fayetteville, AR -2016 National Uniform Standards of Professional Appraisal Practice,(USPAP Update) -Fayetteville AR -2018 [REFERENCES Patsy Christie, Director of Planning and Community Development; Springdale, Arkansas 479-750-8550 Brian Bahr, .Economic Development Manager, City of Bentonville; Bentonville, Arkansas 479-271-5997 Charles Harwell, Attorney, Cypert, Crouch, Clark & Harwell; Springdale, Arkansas 479-756-5222 Lance Jobe, City Engineer, City of Rogers 479-621-1116 Rick Pblvirenti, P.E., Director of Engineering, Springdale Water Utilities 479-927-4183 Chris Brown, City Engineer, City of Fayetteville; Fayetteville, Arkansas 479-575-8207 STATE PLANE COORDINATES NORTH -546913.13 EAST -575005.47 REBAR PIN WITH PLASTIC CAP ADJACENT PROPERTY OWNER'S LIST O PARCEL 755-12128-000 WEISS REVOCABLE TRUST 956 E. TOWNSHIP ST FAYETTEVILLE, AR 72703 ZONING: RSF-4 O PARCEL 755-12130-000 WEISS REVOCABLE TRUST 956 E. TOWNSHIP ST FAYETTEVILLE, AR 72703 ZONING: RSF-4 © PARCEL 755-15959-000 THE MARSHALL AND BETH SAVIERS FAMILY TRUST co 2579 N. COMMON DR. FAYETTEVILLE, AR 72703 0 ZONING: RSF-4 LO O PARCEL 755-15952-000 RUBY PM. HATCHER PHYSICAL ADDRESS: 1114 E. TOWNSHIP ST FAYETTEVILLE, AR 72701 NAILING ADDRESS w PO BOX 1047 FAYETTEVILLE, AR 72702 N j ZONING: RSF-4 t2 OPARCEL 755-15964-000 P) BILLY L. & BRENDA F. 0 (MILLS Z PHYSICAL ADDRESS: 1100 E. TOWNSHIP ST. FAYETTEVILLE, AR 72701 MAILING ADDRESS: 10955 LAZY J DR. FAYETTEVILLE, AR 72701 ZONING: RSF-4 OPARCEL 755-15967-000 KURT & KIM FAULK PHYSICAL ADDRESS: 1075 E. TOWNSHIP ST FAYETTEVILLE, AR 72701 (MAILING ADDRESS: 1014 BROOK ARBOR DR. MANSFIELD, TX 75053 ZONING: RSF-4 0- P.0.13. ® PARCEL 755-15990-000 ITRACT B JOHN B. & MARY K. WEISS 956 E. TOWNSHIP ST IC FAYETTEVILLE, AR 72703 ZONING: RSF-4 SW CORNER SEJ, SEJ, SECTION 35 N 03'15'23" E I T -17-N, R -30-W 300.54' PLAT OF SURVEY BY ALAN REID, PS 1005 RECORDED AT 2019-25145 IN THE RECORDS OF WASHINGTON COUNTY, ARKANSAS I S 87.02'02" E 473.35' S x7'02'02" E 593.04' FLOOD DATA: THIS PROPERTY DOES NOT LIE WITHIN A DETERMINED FEMA FLOOD HAZARD ZONE AS DETERMINED FROM F.I.R.M. MAP OF WASHINGTON COUNTY, ARKANSAS AND INCORPORATED AREAS. MAP No. 05143CO21OF EFFECTIVE DATE MAY 15, 2008. CONVERGENCE ANGLE: -1 °14'51.05" AT THE SOUTHWEST CORNER OF TRACT 8 EMf,.J O STATE PLANE COORDINATES NORTH -548002.04 EAST -579223.20 REBAR PIN WITH PLASTIC CAP FL172 0 BASIS OF BEARING: ARKANSAS STATE PLANE COORDINATES NORTH ZONE NAD 83 L14 L15 LLJ LINE IT,OF �I o J L1 Z Oo L i o ZLO I 00w wMw p- <7 u Q Lo 0 W 0-0 O <�°= L4 W L15 L L5 S 0313'47" W 51.08' L5 W I� 25.68' L7 L3 W TRA T B L8 TED & ROB rRTA WILLIS I W I Le I FL172 0 BASIS OF BEARING: ARKANSAS STATE PLANE COORDINATES NORTH ZONE NAD 83 L14 L15 TRACT A LINE IT,OF FA YET i L1 I P.0.8. I TRACT A LO N N ;o N 0 cn Co EXISTING EASEMENTS: A TED & ROBERTA WILLIS ACCESS & UTILITY DEED 2014-26012 3 TED & ROBERTA WILLIS ACCESS BOOK 1254 PAGE 474 C CITY OF FAYETTEVILLE, AR ACCESS BOOK 1217 PAGE 622 L13 I I SCALE 1 " = 100' 0' 50' 100' 150' 200' I N 0313'47" E 302.59' LEGEND I EXISTING EASEMENT C I I EXISTING EASEMENTS A & 8 - - - - -P6- PROPERTY LINE - - - - - - PARCEL LINE ----------- ORIGINAL PROPERTY LINE ® FOUND REBAR PIN WITH PLASTIC CAP O FOUND REBAR PIN SET REBAR PIN WITH YELLOW PLASTIC CAP r�F ADJACENT PROPERTY SURVEY FOR PROPERTY LINE ADJUSTMENT OF PARCELS 765-15987-001 & 765-15988-000 FOR TI IE NEW TOWNSHIP WATER 'DANK SITE FAYETTEVILLE, ARKANSAS PART OF TIIE SEI SEql OF SECTION 35 TOWNSIJIP-17-NORTFI, RANGE -30 -WEST WASHINGTON COUNTY, ARKANSAS CERTIFICATION: This is to certify that this plat represents a survey conducted by me of the property shown to the best of my ability. I confirmed the correctness of prior monuments and supervised the survey. This survey and plat conform to the Arkansas Standards of Practice for Boundary Surveys and Plats. GARY LEE DENIER, PS 1266 JANUARY 18, 2020, OLSSON, 302 E. VIILLSAP RD., FAYETTEVILLE, AR 72703 TELEPHONE: 479-443-3404 DEED DESCRIPTION: PARENT TRACTS: PARCEL NO. 765-15988-000 - CITY OF FAYETTEVILLE - DEED BOOK 873 PAGE 337 A part of the Southeast Quarter of the Southeast Quarter of Section 35, Township 17 North, Range 30 West described as follows: Beginning at a point which is 594 feet east and 300 feet north of the Southwest Corner of said 40 acre tract, and running, thence East 101% thence north 525; thence west 101; thence south 525 to the point of beginning; containing 1.22 acres, more or less. PARCEL NO. 765-15987-001 - TED & ROBERTA WILLIS - DEED 2014-00028012 A part of the Southeast Quarter of the Southeast Quarter of Section 35, Township 17 North, Range 30 west, Washington County, Arkansas, being more particularly described as follows, to -wit: Beginning at a point which is S88`05`32"E 474.50', NO3'05'53"E 300.00' from the Southwest corner of said forty acre tract, said point being a set iron pin, and running thence NO3'05'53"E 520.30' to a found iron pin, thence S87'10'25"E 119.38' to a found iron pin, thence S03'05'15" W 518.21' to a found pipe, thence N88°10'35"W 119.50' to the point of beginning, containing 1.42 acres, more or less. Subject to easements and rights of way of record, if any. SURVEY BOUNDARY DESCRIPTION: TRACT A - CITY OF FAYETTEVILLE A part of the Southeast Quarter(SEJ) of the Southeast Quarter(SEJ) of Section 35, Township 17 North, Range 30 West, in Washington County, Arkansas, being more particularly described as follows: Commence at the Southwest Corner of said forty acre tract, run thence South 87'02'02" East a distance of 593.04 feet; thence North 03'13'47" East a distance of 302.55 feet to a found rebar pin marking the Southeast corner of Parcel No. 755-15987-001 for the "TRUE POINT OF BEGINNING" of this survey boundary description; thence N 88'04'05" blest along the South line of Parcel No. 755-15987-001 a distance of 95.12 feet to a set rebar pin with Yellow plastic cap; thence, leaving said South line, North 03'15'20" East a distance of 101.78 feet to a set rebar pin with Yellow plastic cap; thence North 70'01'34" East a distance of 71.08 feet to a set rebar pin with Yellow plastic cap; thence North 19'33'15" East a distance of 15.75 feet to a set rebar pin with Yellow plastic cap; thence North 05'11'21" East a distance of 5.94 feet to a set rebar pin with Yellow plastic cap; thence South 89'14'22" East a distance of 25.68 feet to a set rebar pin with Yellow plastic cap on the East line of said Parcel No. 755-15987-001; thence North 03°13'47" East, along said East line, a distance of 51.08 feet to a set rebar pin with Yellow plastic cap; thence, leaving said East line, South 87'01'45" East a distance of 99.49 feet to a set rebar pin with Yellow plastic cap on the East line of Parcel No. 755-15988-000; thence South 02'54'22" Test, along said East line, a distance of 201.15 feet to a found rebar pin; thence, leaving said East line, North 87'57'54: West, along the South line of said Parcel No. 755-15988-000, a distance of 100.65 feet to the point of beginning; containing 32,305 square feet or 0.74 acres, more or less. Subject to any existing easements or rights of way whether of record or not. SURVEY BOUNDARY DESCRIPTION: TRACT 8 - TED & ROBERTA WILLIS A part of the Southeast Quarter(SEJ) of the Southeast Quarter(SEJ) of Section 35, Township 17 North, Range 30 West, in Washington County, Arkansas , being more particularly described as follows: Commence at the Southwest Corner of said forty acre tract, run thence South 87'02'02" East a distance of 473.35 feet; thence North 03'15'23" East a distance of 300.54 feet to a found rebar pin with plastic cap marking the Southwest corner of Parcel No. 755-15987-001 for the "TRUE POINT OF BEGINNING" of this survey boundary description; thence North 03°15'23" East, along the West line of sold Parcel, a distance of 520.28 feet to a found rebar pin with plastic cap marking the Northwest corner of said Parcel; thence, leaving said West line, South 87'04'15" East, along the North line of said Parcel, a distance of 119.31 feet to a found rebar pin with plastic cap marking the Northeast corner of said Parcel and the Northwest corner of Parcel No. 755-15988-000; thence South 87'05'03" East, along the North line of said Parcel 755=159M-000, a distance of 97.71 feet to a found rebar pin with plastic cap marking the Northeast corner of said Parcel No. 755-15988-000; thence, leaving said North line, South 02'54'22" West, along the East line of said Parcel, a distance of 315.48 feet to a found rebar pin with Yellow plastic cap on said East line; thence, leaving said East line, North 87'01'45" West a distance of 99.49 feet to a found rebar pin with Yellow plastic cap on the line between Parcel 765-15988-000 and Parcel 755-15987-001; thence South 03'13'47" West, along said line between Parcels, a distance of 51.08 feet to a found rebar pin with Yellow plastic cap; thence, leaving said line between Parcels, North 89'14'22 West a distance of 25.68 feet to a found rebar pin with Yellow plastic cap; thence South 05'11'21" West a distance of 5.94 feet to a found rebar pin with Yellow plastic cap; thence South 19'33'15" West a distance of 15.75 feet to a found rebar pin with Yellow plastic cap;; thence South 70°01'34" West a distance of 71.08 feet to a found rebar pin with Yellow plastic cap; thence South 03'15'20" West a distance of 101.78 feet to a found rebar pin with Yellow plastic cap on the South line of said Parcel No. 755-15987-001; thence North 88'04'06" West, along said South line, a distance of 23.45 feet to the point of beginning; containing 81,017 square feet or 1.86 acres, more or less. Subject to any existing easements or rights of way whether of record or not. PARCEL NO. 755-15988-000 CITY OF FAYETTEVILLE CERTIFICATE OF OWNERSHIP: THE UNDERSIGNED CERTIFY THAT THEY HAVE ONE H NDRED PERCENT (100%) OWNERSHIP OF THE REAL ESTATE SHOWN AND DESCPIBED HE N, DATA^ /�/P-0 �-` Olsson Inc._=' No.1010 zz i/llffiflt4111\\ PARCEL NO. 765-15.987-001 TED & ROBERTA WILLIS CERTIFICATE OF OWNERSHIP: THE UNDERSIGNED CERTIFY THAT THEY HAVE ONE HUNDRED PERCENT (100%) OWNERSHIP OF THE REAL ESTATE SHOWN AND DESCRIBED HEREIN, OWNER:/TED & ROBERTA WILLIS DATE: l A 0 C-> BY:7,/ V - 8 Y: a L J114 VICINITY MAP - N.T.S. lSis .°�e ARKANSAS PROPERTY OWNER'S PARCEL 765-15987-001 TED & ROBERTA WILLIS 1060 E. TOWNSHIP ST. FAYETTEVILLE, AR 72703 PARCEL 765-15988-000 CITY OF FAYETTEVILLE 113 W. MOUNTAIN ST. FAYETTEVILLE, AR 72701 STATE SURVEYORS CODE: 500 -17N -30W-0--/35-220--72-1266 LINE TABLE LINE BEARING DISTANCE L1 S 87'04'15" E 119.31' L2 S 87'05'03" E 97.71' L3 S 02°54'22" W 315.48' L4 N 87'01'45" W 99.49' L5 S 0313'47" W 51.08' L5 N 89'14'22" W 25.68' L7 S 05°11'21" W 5.94' L8 S 19'33'15" W 16.75' L9 S 70°01'34" W 71.08' L10 S 0315'20" W 101.78' L11 N 88'04'05" W 23.46' L12 N 88'04'05" W 95.12' L13 N 87'57'54" W 100.55' L14 S 0313'47" W 151.76' L15 S 02'54'22" W 201.15' L16 S 03°13'47" W 315.39' L13 I I SCALE 1 " = 100' 0' 50' 100' 150' 200' I N 0313'47" E 302.59' LEGEND I EXISTING EASEMENT C I I EXISTING EASEMENTS A & 8 - - - - -P6- PROPERTY LINE - - - - - - PARCEL LINE ----------- ORIGINAL PROPERTY LINE ® FOUND REBAR PIN WITH PLASTIC CAP O FOUND REBAR PIN SET REBAR PIN WITH YELLOW PLASTIC CAP r�F ADJACENT PROPERTY SURVEY FOR PROPERTY LINE ADJUSTMENT OF PARCELS 765-15987-001 & 765-15988-000 FOR TI IE NEW TOWNSHIP WATER 'DANK SITE FAYETTEVILLE, ARKANSAS PART OF TIIE SEI SEql OF SECTION 35 TOWNSIJIP-17-NORTFI, RANGE -30 -WEST WASHINGTON COUNTY, ARKANSAS CERTIFICATION: This is to certify that this plat represents a survey conducted by me of the property shown to the best of my ability. I confirmed the correctness of prior monuments and supervised the survey. This survey and plat conform to the Arkansas Standards of Practice for Boundary Surveys and Plats. GARY LEE DENIER, PS 1266 JANUARY 18, 2020, OLSSON, 302 E. VIILLSAP RD., FAYETTEVILLE, AR 72703 TELEPHONE: 479-443-3404 DEED DESCRIPTION: PARENT TRACTS: PARCEL NO. 765-15988-000 - CITY OF FAYETTEVILLE - DEED BOOK 873 PAGE 337 A part of the Southeast Quarter of the Southeast Quarter of Section 35, Township 17 North, Range 30 West described as follows: Beginning at a point which is 594 feet east and 300 feet north of the Southwest Corner of said 40 acre tract, and running, thence East 101% thence north 525; thence west 101; thence south 525 to the point of beginning; containing 1.22 acres, more or less. PARCEL NO. 765-15987-001 - TED & ROBERTA WILLIS - DEED 2014-00028012 A part of the Southeast Quarter of the Southeast Quarter of Section 35, Township 17 North, Range 30 west, Washington County, Arkansas, being more particularly described as follows, to -wit: Beginning at a point which is S88`05`32"E 474.50', NO3'05'53"E 300.00' from the Southwest corner of said forty acre tract, said point being a set iron pin, and running thence NO3'05'53"E 520.30' to a found iron pin, thence S87'10'25"E 119.38' to a found iron pin, thence S03'05'15" W 518.21' to a found pipe, thence N88°10'35"W 119.50' to the point of beginning, containing 1.42 acres, more or less. Subject to easements and rights of way of record, if any. SURVEY BOUNDARY DESCRIPTION: TRACT A - CITY OF FAYETTEVILLE A part of the Southeast Quarter(SEJ) of the Southeast Quarter(SEJ) of Section 35, Township 17 North, Range 30 West, in Washington County, Arkansas, being more particularly described as follows: Commence at the Southwest Corner of said forty acre tract, run thence South 87'02'02" East a distance of 593.04 feet; thence North 03'13'47" East a distance of 302.55 feet to a found rebar pin marking the Southeast corner of Parcel No. 755-15987-001 for the "TRUE POINT OF BEGINNING" of this survey boundary description; thence N 88'04'05" blest along the South line of Parcel No. 755-15987-001 a distance of 95.12 feet to a set rebar pin with Yellow plastic cap; thence, leaving said South line, North 03'15'20" East a distance of 101.78 feet to a set rebar pin with Yellow plastic cap; thence North 70'01'34" East a distance of 71.08 feet to a set rebar pin with Yellow plastic cap; thence North 19'33'15" East a distance of 15.75 feet to a set rebar pin with Yellow plastic cap; thence North 05'11'21" East a distance of 5.94 feet to a set rebar pin with Yellow plastic cap; thence South 89'14'22" East a distance of 25.68 feet to a set rebar pin with Yellow plastic cap on the East line of said Parcel No. 755-15987-001; thence North 03°13'47" East, along said East line, a distance of 51.08 feet to a set rebar pin with Yellow plastic cap; thence, leaving said East line, South 87'01'45" East a distance of 99.49 feet to a set rebar pin with Yellow plastic cap on the East line of Parcel No. 755-15988-000; thence South 02'54'22" Test, along said East line, a distance of 201.15 feet to a found rebar pin; thence, leaving said East line, North 87'57'54: West, along the South line of said Parcel No. 755-15988-000, a distance of 100.65 feet to the point of beginning; containing 32,305 square feet or 0.74 acres, more or less. Subject to any existing easements or rights of way whether of record or not. SURVEY BOUNDARY DESCRIPTION: TRACT 8 - TED & ROBERTA WILLIS A part of the Southeast Quarter(SEJ) of the Southeast Quarter(SEJ) of Section 35, Township 17 North, Range 30 West, in Washington County, Arkansas , being more particularly described as follows: Commence at the Southwest Corner of said forty acre tract, run thence South 87'02'02" East a distance of 473.35 feet; thence North 03'15'23" East a distance of 300.54 feet to a found rebar pin with plastic cap marking the Southwest corner of Parcel No. 755-15987-001 for the "TRUE POINT OF BEGINNING" of this survey boundary description; thence North 03°15'23" East, along the West line of sold Parcel, a distance of 520.28 feet to a found rebar pin with plastic cap marking the Northwest corner of said Parcel; thence, leaving said West line, South 87'04'15" East, along the North line of said Parcel, a distance of 119.31 feet to a found rebar pin with plastic cap marking the Northeast corner of said Parcel and the Northwest corner of Parcel No. 755-15988-000; thence South 87'05'03" East, along the North line of said Parcel 755=159M-000, a distance of 97.71 feet to a found rebar pin with plastic cap marking the Northeast corner of said Parcel No. 755-15988-000; thence, leaving said North line, South 02'54'22" West, along the East line of said Parcel, a distance of 315.48 feet to a found rebar pin with Yellow plastic cap on said East line; thence, leaving said East line, North 87'01'45" West a distance of 99.49 feet to a found rebar pin with Yellow plastic cap on the line between Parcel 765-15988-000 and Parcel 755-15987-001; thence South 03'13'47" West, along said line between Parcels, a distance of 51.08 feet to a found rebar pin with Yellow plastic cap; thence, leaving said line between Parcels, North 89'14'22 West a distance of 25.68 feet to a found rebar pin with Yellow plastic cap; thence South 05'11'21" West a distance of 5.94 feet to a found rebar pin with Yellow plastic cap; thence South 19'33'15" West a distance of 15.75 feet to a found rebar pin with Yellow plastic cap;; thence South 70°01'34" West a distance of 71.08 feet to a found rebar pin with Yellow plastic cap; thence South 03'15'20" West a distance of 101.78 feet to a found rebar pin with Yellow plastic cap on the South line of said Parcel No. 755-15987-001; thence North 88'04'06" West, along said South line, a distance of 23.45 feet to the point of beginning; containing 81,017 square feet or 1.86 acres, more or less. Subject to any existing easements or rights of way whether of record or not. PARCEL NO. 755-15988-000 CITY OF FAYETTEVILLE CERTIFICATE OF OWNERSHIP: THE UNDERSIGNED CERTIFY THAT THEY HAVE ONE H NDRED PERCENT (100%) OWNERSHIP OF THE REAL ESTATE SHOWN AND DESCPIBED HE N, DATA^ /�/P-0 �-` Olsson Inc._=' No.1010 zz i/llffiflt4111\\ PARCEL NO. 765-15.987-001 TED & ROBERTA WILLIS CERTIFICATE OF OWNERSHIP: THE UNDERSIGNED CERTIFY THAT THEY HAVE ONE HUNDRED PERCENT (100%) OWNERSHIP OF THE REAL ESTATE SHOWN AND DESCRIBED HEREIN, OWNER:/TED & ROBERTA WILLIS DATE: l A 0 C-> BY:7,/ V - 8 Y: a L J114 VICINITY MAP - N.T.S. lSis .°�e ARKANSAS PROPERTY OWNER'S PARCEL 765-15987-001 TED & ROBERTA WILLIS 1060 E. TOWNSHIP ST. FAYETTEVILLE, AR 72703 PARCEL 765-15988-000 CITY OF FAYETTEVILLE 113 W. MOUNTAIN ST. FAYETTEVILLE, AR 72701 STATE SURVEYORS CODE: 500 -17N -30W-0--/35-220--72-1266