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HomeMy WebLinkAbout242-22 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 242-22 File Number: 2022-0918 1010 SOUTH HOLLYWOOD AVENUE REVENUE: A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $79,149.00 RECOGNIZING REVENUE ASSOCIATED WITH THE SALE OF CITY OWNED PROPERTY LOCATED AT 1010 SOUTH HOLLYWOOD AVENUE 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 a budget adjustment, a copy of which is attached to this Resolution, in the amount of $79,149.00 recognizing revenue associated with the sale of city owned property located at 1010 South Hollywood Avenue. PASSED and APPROVED on 10/18/2022 Attest: ���{41111t11►I •ram�TA .� rrr Kara Paxton, City Clerk Treasurer 7 '-� 'SUB L f G .o • _ r_!3 . Page 1 Printed on 10119122 City of Fayetteville, Arkansas 113 West Mountain Street Fayetteville, AR 72701 (479)575-8323 Text File File Number: 2022-0918 Agenda Date: 10/18/2022 Version: 1 Status: Passed In Control: City Council Meetinq File Type: Resolution Agenda Number: A.6 1010 SOUTH HOLLYWOOD AVENUE REVENUE: A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $79,149.00 RECOGNIZING REVENUE ASSOCIATED WITH THE SALE OF CITY OWNED PROPERTY LOCATED AT 1010 SOUTH HOLLYWOOD AVENUE 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 a budget adjustment, a copy of which is attached to this Resolution, in the amount of $79,149.00 recognizing revenue associated with the sale of city owned property located at 1010 South Hollywood Avenue. City of Fayetteville, Arkansas Page 1 Printed on 1011912022 Brad Hardin Submitted By City of Fayetteville Staff Review Form 2022-0918 Legistar File ID 10/18/2022 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item 9/26/2022 FIRE(300) Submitted Date ❑ivision / Department Action Recommendation: Approval of a Budget Adjustment to utilize the revenue received from the sale of property located at 1010 S. Hollywood Ave. The funds will be moved to the Capital Improvement expense account of Firefighter Safety Equipment. These funds will be utilized for purchasing bailout system lifesaving firefighter safety equipment. Budget Impact: 4470.300.8300-5210.00 Capital Improvement Projects Account Number 16002.1 Project Number Budgeted Item? Yes Does item have a cost? No Budget Adjustment Attached? Yes Purchase Order Number: Change Order Number: Original Contract Number: Comments: Fund Firefighting Safety Equipment Project Title Current Budget Funds Obligated Current Balance Item Cost Budget Adjustment Remaining Budget $ 203,584.00 $ 97,736.33 $ 105,847.67 $ 79,149.00 V20210527 Previous Ordinance or Resolution # Approval Date: CITY OF FAYETTEVILLE ARKANSAS MEETING OF OCTOBER 18, 2022 TO: Mayor and City Council FROM: Brad Hardin, Fire Chief DATE: September 26, 2022 CITY COUNCIL MEMO SUBJECT: Staff recommends Approval of a Budget Adjustment to utilize the revenue received from the sale of property located at 1010 S. Hollywood Ave. RECOMMENDATION: Staff recommends Approval of a Budget Adjustment to utilize the revenue received from the sale of property located at 1010 S. Hollywood Ave. BACKGROUND: The Fayetteville Fire Department wants to utilize the revenue received for purchasing bailout system lifesaving firefighter safety equipment. DISCUSSION: The Fire Department will utilize this revenue for the expense of the purchase of lifesaving bailout system firefighting equipment. This equipment is specifically designed to allow for rapid and safe evacuation from the upper floors of fire involved structures. Rapidly changing conditions can often cut off a firefighter's means of egress, leaving the only option of exiting through a window, often from a 2nd or 31d floor causing injury or worse to those firefighters. With the increase in multi -family and multi -story homes related to infill, providing this equipment will ensure firefighters can avoid serious injury. BUDGET/STAFF IMPACT: The funds will be moved from the revenue account to expense account of Capital Improvement Project #16002.1 Firefighting Safety Equipment. Attachments: Closing Documents; Budget Adjustment Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 Ilc citytitie & c l o s i n g BUYER/SELLER CLOSING CERTIFICATION (Commercial Purchase/Sale Transaction) File No.: 22-5642 Property Address: 1010 S. Hollywood Ave., Fayetteville, Arkansas 72701 The undersigned, in connection with the purchase/sale of the property(ies) described on Exhibit "A" attached hereto (the `Plroperty") hereby states and agrees as follows: PROPERTY TAX PRORATIONS City Title & Closing LLC (`Vosing Agent") has prorated the property taxes for the current year from January I of the current year through the date of closing based on the current figures made available by the applicable County Assessor/Collector, and the buyer(s) of the Property have been given a credit for such amount. The undersigned acknowledge and agree that Closing Agent is relying on the tax data made available by the applicable County Assessor/Collector and that such amounts may be changed at any time from the closing date forward. Closing Agent shall not be responsible or liable in any way for any discrepancies in tax amounts provided by the applicable County Assessor/Collector or any adjustments to tax amounts subsequent to the date of closing. If this closing is occurring between January I and April 1, it is understood and agreed that tax amounts collected by Closing Agent to pay the prior year's taxes is an estimate only. In the event that, when tax bills are posted by the applicable County Assessor/Collector, the actual tax amount for the prior year is more than collected at this closing, the seller agrees to pay such difference to Closing Agent upon request. If an escrow for tax and/or insurance payments has been required by a lender, Closing Agent has made the necessary entries on the settlement statement as instructed by such lender. The reserves and monthly payments for any such escrow have been provided to Closing Agent by the lender requiring same and were not calculated by Closing Agent. It is the responsibility of the undersigned, not Closing Agent, to contact the County Taxing Authority for the purpose of applying for and receiving any credits for which a property owner may be entitled. It will also be the responsibility of the undersigned, not Closing Agent, to provide lenders with any information necessary to change or update any escrow payment amounts being made to such lender. PROPERTY OWNERS ASSOCIATION ASSESSMENTS The undersigned acknowledge that Closing Agent has attempted to obtain the current Property Owners Association Assessments ("POA Dues") from the applicable Property Owners Association ("POA"), if applicable. The amount of the POA Dues collected and/or prorated is based on the information provided by such POA, seller or information obtained by Closing Agent from a prior closing for the same POA. In the event Closing Agent was unable to obtain a response from the POA representative prior to closing, the undersigned acknowledge that Closing Agent has not been able to determine whether an active POA exists or if any POA Dues, current or past, have been assessed against the Property. The undersigned agree to indemnify and hold Closing Agent harmless from and against any claims or demands from any individual or entity for the payment of any outstanding POA Dues. It is the responsibility of the undersigned, not Closing Agent, to settle any discrepancies resulting from any inaccurate POA information provided Page 1 of 4 to Closing Agent or information related to POA Dues being unavailable to Closing Agent as of the time of closing. TITLE INSURANCE COMMITMENT The undersigned hereby affirm a copy of the commitment for title insurance prepared by Closing Agent in connection with this closing (the "CommitmenN') has been received and the undersigned and is aware of the matters contained therein. It is the responsibility of the parties to this transaction, not Closing Agent, review the Commitment and satisfy themselves with the contents thereof in connection with this transaction, SURVEY -WAIVER The undersigned acknowledge and agree that unless a new ALTA/NSPS certified Survey approved by Closing Agent was provided to Closing Agent prior to closing, no coverage or protection will be provided on any title insurance policy with respect to matters that would be disclosed on an accurate ALTA/NSPS certified Survey of the Property, It is the responsibility of the undersigned to request such coverages, including but not limited to survey matters, directly from Closing Agent prior to the closing. In the event survey coverage is requested, it is further the responsibility of the undersigned to provide Closing Agent a new ALTA/NSPS certified Survey conforming to the criteria and requirements as determined by Closing Agent's underwriting guidelines. Closing Agent shall not be responsible or liable for any inaccuracies or errors in any survey provided in connection with closing or this transaction. UE DILIGENCE ITEMS Other than the Commitment any other reports prepared by Closing Agent in connection with the closing, Closing Agent has not ordered, prepared or provided and was not responsible for ordering, preparing or providing any due diligence materials related to the Property or this transaction, including but not limited to, surveys, environmental reports, leases, rent rolls, permits, plans, or specifications. Closing Agent shall not be liable in any way for the results or contents of any due diligence items or the accuracy or inaccuracy of same. It is the responsibility of the parties to this transaction, not Closing Agent, to order, review and satisfy themselves with any diligence items and the contents thereof in connection with this transaction. The undersigned are not relying on Closing Agent in way for the review of any due diligence iterns. ENTITY AUTHORIZATION If a party to this transaction is an entity, or is not otherwise a natural person, the undersigned represent and warrant that the natural person signing closing documents on behalf of such entity has all required authority and approvals to bind the entity to all agreements being executed. In the event it is determined the natural person(s) executing this agreement does not possess all required authority and approvals to bind the entity on behalf of which such natural person is signing, the natural person(s) executing this agreement hereby agrees to be personally liable for all such agreements executed by such natural person(s) on behalf of the entity for which they were not so authorized. REVIEW OF CLOSING DOCUMENTS The undersigned acknowledge and agree that all closing documents provided by Closing Agent related to this transaction. including but not limited to the Commitment and the final settlement statement, have been reviewed and approved by the undersigned prior to execution and that the undersigned understand the content of all such closing documents. Further, the undersigned affirm that they have had adequate opportunity to consult legal and any other professional advice desired by the undersigned in connection with such closing documents. ERRORS AND OMISSIONS The undersigned acknowledge and agree to cooperate to re -execute any documents, initial any changes, or pay any additional amounts and/or fees which may result from clerical errors or omissions, including but not limited to misspellings, incorrect names, incorrect addresses, incorrect legal descriptions, miscalculations, incorrect tax estimates or amounts collected or due, which were made by Closing Agent in good faith and further agree to respond to any such request made by Closing Agent, a lender or other party involved, in a timely manner and consistent with such request. The undersigned further agree to indemnify, defend and hold Closing Agent harmless from any and all damage or liability resulting from the inaccuracy of any matter set forth herein. EXECUTED AND DELIVERED THIS 23RD DAY OF SEPTEMBER, 2022. Payneless LLC The City offayetteville, Arkansas • 1i1S�'� `�ttts�lirrt��� f • FAYETTEVILLi=;�_� File No.: 22-5642 EXHIBIT "A" A part of the Northeast Quarter (NE'/4) of the Northwest Quarter (NW '/a) of Section Twenty (20), Township Sixteen (16) North, Range Thirty (30) West, also known as part of Block Numbered Seven (7) and a part of Block Numbered Four (4) in the Re -Plat of Westwood Addition to the City of Fayetteville, Arkansas, as shown upon the recorded plat thereof, on file in the office of the Circuit Clerk and Ex-Officio Recorder of Washington County, Arkansas, more particularly described as follows, to -wit: Commencing at the Southwest corner of said NE'/4 of the NW %4 said point being an existing stone; thence South 86 degrees 57 minutes 34 seconds East 200.13 feet to a found %a" rebar on the East right of way line of Hollywood Avenue; thence North 02 degrees 31 minute 55 seconds East along said East right of way 250.01 feet to a found %" rebar and the POINT OF BEGINNING; thence continuing North 02 degrees 31 minutes 55 seconds East along said East right of way line 68.91 feet to a set SA" rebar with cap COF #1514; thence leaving said East right of way line South 87 degrees 26 minutes 43 seconds East 157.35 Feet to a set 5/8" rebar with cap COF #1514; thence South 02 degrees 46 minutes 26 seconds West 70.24 feet to a found iron pin with cap #1005; thence North 86 degrees 56 minutes 34 seconds West 157.06 feet to the POINT OF BEGINNING, containing 0.251 acres, more or less. DISCLOSURE OF CLOSING AND SETTLEMENT RISK WAIVER (Pursuant to Public Act 684) File No. 22-5642 Date: September 23, 2022 Issued By: City Title & Closing LLC, agent for Fidelity National Title Insurance Company To Buyer(s)/Borfower(s): Payneless LLC Purchasing Property Identified As: Address: 1010 S. Hollywood Ave. Fayetteville, AR 72701 Legal Description: Westwood Addition, Block Pt 7, containing 0.25 acres, Fayetteville, Washington County, AR Pursuant to the requirements of Public Act684 and Rule 87, notice is hereby given that closing protection letter coverage is available to you for your protection by the Company as partol'the above proposed transaction. _ NO CLOSING PROTECTION LETTER IS REQUESTED. The Company is not providing any protection to you for closing or settlement funds received by it, or its policy issuing agency or agent. kt YES, CLOSING PROTECTION LE'17ER IS REQUESTED. The Company will provide you with protection for closing or settlement funds received by it, or its policy issuing agency or agent at a cost ol'525.00 per letter, as set forth by statute, Waiver This is to certify that the foregoing election of a closing protection letter has Owen offered to me, and that I understand that the title insurer may or niay not provide any protection to me for closing and settlement funds received by it, or its policy issuing agency oragent upon the seteetion made by me. Payneless LLC By: P no r hips, Ala ger DISCLOSURE OF CLOSING AND SETTLEMEN'r RISK WAIVER (Pursuant to Public Act 684) File No. 22-5642 Date: September 23, 2022 Issued By: City Title & Closing LLC, agent for Fidelity National Title Insurance Company To Seller(s): City of Fayetteville Selling Property Identified As: Address: 1010 S. Hollywood Ave, Fayetteville, AR 72701 Legal Description. Westwood Addition, Block Pt 7, containing 0.25 acres, Fayetteville, Washington County, AR Pursuant to the requirements of Public Act 684 and Rule 87, notice is hereby given that closing protection letter coverage is available to you for your protection by the Company as part of the above proposed transaction, _ NO CLOSING PROTECTION LETTER IS REQUESTED. The Company is not providing any protection to you for closing or settlement funds received by it, or its policy issuing agency or agent. YES, CLOSING PROTECTION LETTER 1S REQUESTED. The Company will provide you with protection for closing or settlement fu . received by it, or its policy issuing agency or agent at a cost of $25.00 per letter, as set rorth by statute, Waiver This is to certify that the foregoing election of a closing protection letter has been offered to me, and that I understand that the title insurer may or may not provide any protection to me for closing and settlement funds received by it, or its policy issuing agency or agent upon the selection made by me The City of By: Arkansas Attest: CIC�_ C,�� e�k ��irttrllf►Ill J\1Y 0i FAYETTEVILLE -t: IIC a _ tltie &( l o s i n g OWNER DISCLOSURE AND AGREEMENT File No.: 22-5642 At the request of the undersigned ("Owner") City Title & Closing LLC ("'Closing Agent") has conducted a search of the public records regarding the real property dscribed on Exhibit "A" attached hereto (the "Propel") and has issued one or more title insurance commitments for a policy or policies of title insurance (the "Title Commitment'), a copy of which has been provided to and reviewed by Owner. Despite such search of the public records, Owner acknowledges that neither Closing Agent nor Closing Agent's title insurer can or will insure against actions taken by Owner and/or anything affecting title to; possession of, or encumbrances against the Property known by Owner or a related party that are unknown by Closing Agent and not disclosed to the Closing Agent in writing prior to the closing of the transaction for which the Title Commitment was prepared. Consequently, as a material inducement to and as consideration for Closing Agent closing this transaction and issuing a policy or' policies of title insurance in connection therewith, after having reviewed the entirety of this agreement, Owner affirms, agrees, covenants, represents and warrants as follows: 1. Street Address. The street address of the Property is: 1010 S. Hollywood Ave., Fayetteville, Arkansas 72701. 2. No Litigation. There is no litigation pending or threatened in any court to which Owner or the Property is a party or otherwise involved that could affect title to the Property except as identified in the Title Commitment. 3. Construction and Improvements. Within the last 120 days, no labor, construction, building or other work has been performed at the Property and no materials of any kind have been delivered to or stored at the Property which would in any way cause a reasonable person to believe construction or work has commenced or is underway at the Property. Regardless of when performed, all fees, invoices, costs and other charges related to any labor, construction, building or other work performed at the Property or materials provided to or used at the Property have been satisfied and paid in full and no outstanding balance is owed to any contractor, laborer or material supplier, whether disputed or undisputed. Additionally, no notice has been received by Owner indicating the intent of any lien to be claimed or tiled related to the Property and Owner has no knowledge of any such intent, whether or not a notice has been received. 4. Undisclosed/Unrecorded Contracts and Encumbrances. There are no recorded or unrecorded mortgages, deeds of oust, contracts for sale, contracts for deed, options to purchase, rights of first refusal, liens, leases, easements, rights of way, agreements or other instruments or encumbrance against or affecting the Property, other than those identified in the Title Commitment and being satisfied at closing as reflected on the final settlement statement that could affect title to or use of the Property that have not been disclosed in writing to Closing Agent prior to the closing. 5. Possession of the Property. Owner is the current owner of the Property and Owner's title to the Property has never been disputed. Other than Owner and tenants under leases disclosed to Closing Agent prior to the date hereof, no parties are in possession of the Property or any part thereof, and Owner has no notice of or reason to believe there exists any adverse claim to the Property or that another person or entity may have or claim any interest in or a right to the Property or the use thereof. 6. Judgments and Liens. Other than those identified in the Title Commitment and being satisfied at closing as reflected on the final settlement statement, (i) no judgment which remains unsatisfied has been entered or recorded in any court against Owner or the Property; and (ii) no lien exists against Owner or the Property, including by not limited to any lien related to unpaid taxes of any kind. 7. No Liens on Fixtures. There are no outstanding fixture filings, chattel mortgages, security agreements, financing statements, conditional sale agreements, personal property leasing or UCC filings affecting or encumbering any materials, fixtures, equipment, appliances, furnishings or other personal property located at or installed in/on the Property that are being sold, conveyed and/or pledged as collateral in connection with this transaction, other than those identified in the Title Commitment and being satisfied at closing as reflected on the final settlement statement. 8. Taxes and Assessments. Except as being satisfied at closing and reflected on the final settlement statement, (i) there are no unpaid or delinquent real estate taxes, improvement district assessments, or other public or private benefit assessments against the Property; and (ii) there are no unpaid or delinquent water, sewer or other utility service charges against the Properly. Further, Owner has not received notice of and has no actual knowledge of any recent or future planned improvements (including but not limited to, street or alley paving, sidewalks, street lighting, surface drainage, etc.) that will or could result in a special assessment against the Property. 9. Horne/Property Owners Association Dues. Except as being satisfied at closing and reflected on the final settlement statement, all property owner's association and/or condominium dues and assessments have been paid in full and there are no delinquent property owner's association and/or condominium dues or assessments against the Property. 10. Bankruptcy. No proceedings in bankruptcy or receivership have been instituted by or against Owner in any court within the past seven (7) years and Owner has not made an assignment for the benefit of creditors. 11. No Known Violations. Owner has no actual knowledge of and has received no notice of any violations by Owner or any prior owner of the Property of (i) any covennnts, conditions or restrictions; (ii) any zoning law or ordinance; or (iii) any State or local subdivision laws or ordinances. 12. Not a Foreign Person. Owner has been issued a United States Taxpayer Identification Number and is not a "foreign person" but rather is a "United States person" as set forth in Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended (the "Code"). Owner, if selling the Property, certifies the taxpayer identification number provided to Closing Agent on the substitute 1099s being executed in conjunction with this closing is true and correct. Owner is making the foregoing statements for the purpose of releasing a purchase of the Property and Closing Agent from any withholding obligation or other liability which may otherwise be imposed under Section 1445(a) of the Code. 13. Access. The Property has legal and direct access to and from a public street and such access has never been disputed or limited in any way. 14. No Encroachments; Boundary, Line Disputes. To Owner's knowledge and except as may be disclosed on an accurate survey provided to Closing Agent prior to closing, all improvements located on the Property, including without limitation, fences, walls. overhangs, buildings, drives and other structures, are located completely within the boundary of the Property as described in the Title Commitment and do not encroach onto any adjoining properties or into any easement area. Further, Owner has no knowledge of any discrepancies or disputes with respect to the boundary lines of the Property as described in the Title Commitment. 15. Marital Interests. Owner is not aware of any rights to homestead, dower or curtesy in favor of any person that are not being waived or released in connection with this transaction. 16. Indemnification. Owner acknowledges and agrees this Owner Disclosure and Agreement is made to induce Closing Agent and Fidelity National Title Insurance Company to issue an owner's policy and/or loan policy on the Property without exception to any adverse matters that would be disclosed by this affidavit. Owner further agrees to indemnify, defend and hold Fidelity National Title Insurance Company and Closing Agent harmless from and against any and all claims, loss, costs, damage and expense, including attorneys' fees and court costs, which Fidelity National Title Insurance Company and/or Closing Agent may sustain or become liable for under a policy or policies of title insurance issued or to be issued as a result of the reliance on this Owner Disclosure and Agreement made herein. EXECUTED AND DELIVERED this _22 day of / TE D�•� , 2099. The City of Fayetteville, Arkansas IlttIIII11PIPt Ca; FAYE EVILI.E L•• � �� ti lv+ru c�O�lSO�1t p ti �N ��� I►lllll SUBSCRIBED AND SWORN to before me this 1-3— day of r•s d' ,r 20,V Notary Po lic DeV Lc er ilk My commission expires: �x p r File No,: 22-5642 EXHIBIT "A" A part of the Northeast Quarter (NE ''/a) of the Northwest Quarter (NW '/) of Section Twenty (20), Township Sixteen (16) North, Range Thirty (30) West, also known as part of Block Numbered Seven (7) and a part of Block Numbered Four (4) in the Re -Plat of Westwood Addition to the City of Fayetteville, Arkansas, as shown upon the recorded plat thereof, on file in the office of the Circuit Clerk and Ex-Officio Recorder of Washington County, Arkansas, more particularly described as follows, to -wit: Commencing at the Southwest corner of said NE '/a of the NW '/4 said point being an existing stone; thence South 86 degrees 57 minutes 34 seconds East 200.13 feet to a found %a" rebar on the East right of way line of Hollywood Avenue; thence North 02 degrees 31 minute 55 seconds East along said East right of way 250.01 feet to a found'/z" rebar and the POINT OF BEGINNING; thence continuing North 02 degrees 31 minutes 55 seconds East along said East right of way line 68.91 feet to a set 5/8" rebar with cap COF #1514; thence leaving said East right of way line South 87 degrees 26 minutes 43 seconds East 157.35 feet to a set 5/8" rebar with cap COF #1514; thence South 02 degrees 46 minutes 26 seconds West 70.24 feet to a found iron pin with cap #1005; thence North 86 degrees 56 minutes 34 seconds West 157.06 feet to the POINT OF BEGINNING, containing 0.251 acres, more or less. Prepared under the supervision of. Josh Hite, Attorney 5431 W. Pinnacle Pointe Dr., Suite 105 Rogers, AR 72756 WARRANTY DEED File # 22-5642 KNOW ALL MEN BY THESE PRESENTS: That the City of Fayetteville, a municipal corporation organized under and by virtue of the laws of the State of Arkansas, hereinafter called Grantor, for and in consideration of the sum of One and No/100----- Dollars --- ($1.00) and other good and valuable consideration in hand paid by Payneless LLC, an Arkansas limited liability company, hereinafter called Grantee, the receipt of which is hereby acknowledged, does hereby grant, bargain, sell and convey unto said Grantee and unto its successors and assigns forever, the following described land, situated and being in the County of Washington, State of Arkansas, to -wit: SEE ATTACHED EXHIBIT "A" TO HAVE AND TO HOLD the same unto said Grantee and unto its successors and assigns forever with all appurtenances thereunto belonging. And the Grantor hereby covenants with said Grantee it will forever warrant and defend the title to the said lands against all claims whatsoever. Signature page to follow IN TESTIMONY WHEREOF, the name of the Grantor is hereunto affixed by its undersigned officer(s) and its seal affixed this �5 day of 2022. The City of Fayetteville, Arkansas C By. Attest: Kim Joh ACKNOWLEDGMENT STATE OF ARKANSAS SS COUNTY OF WASHINGTON City Clerk -Treasurer 4t�jiJI 11111 � .0r 6'q ' f .rnM F4Yc7?EVILLE 70 ir7_���I�jrhr�j,r'7 To N On this day before the undersigned, a Notary Public, duly commissioned, qualified and acting, within and for the said County and State, appeared in person the within named Lioneld Jordan and Kim Johnson to me personally known (or satisfactorily proven), who stated that they are the Mayor and Deputy City Clerk -Treasurer, of the City of Fayetteville, an Arkansas municipal corporation, and are duly authorized in their capacity to execute the foregoing instrument for and in the name and behalf of said corporation, and further stated and acknowledged that they have 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 this 21 day of 2022. or Notary Public 1117 My Commission Expires: V12 rPi.fBo r; 'y e��ZOP;•�.. EXHIBIT "A" A part of the Northeast Quarter (NE'/o) of the Northwest Quarter (NW '/a) of Section Twenty (20), Township Sixteen (16) North, Range Thirty (30) West, also known as part of Block Numbered Seven (7) and a part of Block Numbered Four (4) in the Re -Plat of Westwood Addition to the City of Fayetteville, Arkansas, as shown upon the recorded plat thereof, on file in the office of the Circuit Clerk and Ex-Officio Recorder of Washington County, Arkansas, more particularly described as follows, to -wit: Commencing at the Southwest corner of said NE'/4 of the NW '/4 said point being an existing stone; thence South 86 degrees 57 minutes 34 seconds East 200.13 feet to a found %z" rebar on the East right of way line of Hollywood Avenue; thence North 02 degrees 31 minute 55 seconds East along said East right of way 250.01 feet to a found'/Z" rebar and the POINT OF BEGINNING; thence continuing North 02 degrees 31 minutes 55 seconds East along said East right of way line 68.91 feet to a set 5/8" rebar with cap COF #1514; thence leaving said East right of way line South 87 degrees 26 minutes 43 seconds East 157.35 feet to a set 5/8" rebar with cap COF #1514; thence South 02 degrees 46 minutes 26 seconds West 70.24 feet to a found iron pin with cap #1005; thence North 86 degrees 56 minutes 34 seconds West 157.06 feet to the POINT OF BEGINNING, containing 0.251 acres, more or less. Subject to easements, right-of-ways, and protective covenants of record, if any. Subject to all prior mineral reservations and oil and gas leases, if any. A. settlement statement U.S. Department of Housing OMB No. 2502-0265 and Urban Development B. Type of Loan L 13 FIIA 2. 4 FmHA 3 (3 Conv Unins 6. File Number 7. Loan Number 8. Mortgage Ins Case Number 4. ❑ VA 5 ❑ Conv Ins, 6, ❑ Seller Finance 22-5642 7. ❑ Cash Sale C. Noce Tlus lorm vl lhnnsheJ to give you a Aa[etra.Tt[ of achml selllemnd costs Ammaaa paid to lord by the setacnicut agent are shown. Ilems marked "[ .r>_c.}` were iJ outside theelu3t ;the arc shown here For informational purilem and are not included in the totals. D Name & Address of Borrower E Name & "muss of Seller F. Name & Address of Lender Payneless LLC City of Fayelleville 124 W. Meadow 81. 113 W. Mountain St Fayelleville, AR 72701 Fayelleville, All 72701 , U Prurmly I'venttou Westwood Addition, Block Pt 7, containing 0.25 acres, F'uyelleville, Washington County, AR 1010 S. Hollywood Ave. Fayelteville, All 72701 or u"votvaes Trnnsaetlan Seutcuteal Ageolblima -ily Tille & Closing LLC 431 Pinnacle Pointe Dr., Ste. 105 Rogers, AR 72758 Tax ID: 45-1556467 AiderwriBen By: Fidelity place of Settlement I Settlement Date Cily'ritle & Closing LLC 9/23/2022 5431 Piurck Pointe Dr., Sir. 105 Fund: Rogers, AR 72758 K. Summary of Seller's Transaclion 41.11.1. Urom Amount Vue to Seller 101 Contract Sales Price S80,085.00 401 Contract Sales Price 580,011S.00 102 Personal Property 402 Personal Property 103. Settlement Charges to borrower $870.42 403 10C 404 105. 405. Adjmlabeng% for items paid by seller in advance Adjuxtumili for items paid by seller in advance 106 Special Inlprltvgriumt taxes 406 Slxx•ial lruprowmenl taxes 107. County property taxes 407 County property taxes 108 Assessment Taxes 408. Assessment Taxes 109 School progeny taxes 409 School property taxes 110 HONPOA Dues 410 I IOA/POA Dues 1 I I Remal laonrons 411 Rental prurations 112 412 113- 413 114 414 115 415. 116- 416 120. Gross Amount Due From Borrower 580,95&42 420. Gross Amount Due to SeDer sao,aas.vo 200, Amounts Paid By Or in Behalf Of Borrower 500. Reductions in Amount Due to Seller 201 Deposit or earnest money 501 Excess Dcposil 202 Principal amount of new loun(s) 502. Settlement Charges to Seller (line 1400) $935.43 203 Existing loan(s) taken subject to 503. Existing Loan(s) Taken Subject to 204 f•mn Amount !ad Lien 504. Payoff of first mortgage loan to 205- 505_ Payoff of second mortgage loan to 206, 506 207. 507 208. 508. 209 509 Adjuxtmota for items unpaid by seller AJjuspoents for items unpaid by seller 210- Special Improvement taxes 510 Special Improventeat taxes 211 County property taxes 511 County property taxes 212- Assessment Taxes 512 Assessment Taxes 213 School property taxes 513 School property taxes 214 HOA/POA Dues 514. HOA/POA Dues 215 Rental piorallotn 515 Rental prorations 216 516 217. 517. 218 518. 219 519 220. T0191 Pahl ByStiff Borrower S0.00 520. Total Reduction Amount Out Salter 593503 300. Cash At Settlemenl Fromrro Borrower 600. Cash At Settlement To/From Seller 301. Gross Amount due from borrower (line 120) S80,955.42 601. Gross Amount due to seller(I$re 420) SBU,085.00 302. Less amounts paid by/for borrower (line 220) S0.00 602. Less reductions in suit due seller (line 520) $935.43 303. Cash Front Borrower $80,955.42 603. Cash T'o Seller $79,149.57 SWicai $ of the Real Estate Settleimm Procedures AcTIRf.'.SPA) mqurrrx lho Seelian 4(u) ofRCSPA morgaw than HUD develop and presenbe Ibis nandard following: e HUD must develop a Special Information Booklet to help persons form to be used at the time of loan settlement to provide full disclosure of all charges bonowing money to finance the purchase of residential real estate to better imposed upon the borrower and seller. These are third pany disclosures that are understand the nature and costs orreal estate settlement services; designed to provide the borrower with pertinent information during the settlement . Each lender must provide the booklet to all applicants from whom it receives or for process in order to be a better shopper, whom it prepares a wrillen application to borrow money to finance the purchase of 3 he Public Reporting Burden for this collection of information is estimated to residential real estate; . Lenders must prepare and distribute with the Booklet a average one hour per response, including the lime for reviewing instructions Good Failh Estimate of the settlement costs Thal the borrower is likely to incur in scamhmg existing data sources, gathering and maintaining the data needed, and connection with the senlemew, These disclosures are mandatory. completing and reviewing the collection ofinfamunion This agency may not collect this information, and you are not required to complete this form, unless it displays a currenlly valid OMB control number. The information requested does not lend itself to conftdentialily_ Previous Editions are Obsolete Page I �T font HUD -I (3/86) 1 landboak 4305.2 File No 22-5642 L. Settlement Charges 700. 'Total Sales/Broker's Commission based oil price $80,085.00 % % = S0.00 Paid From Borrower's Funds at Settlement hid From Seller's Funds at Settlement Division of Commission (line 700) as follows: 701. to 702. to 703 Commission Paid at Settlement $0.00 50.00 800. Items Payable in Connection with Loan 801 Loan 011gmilion Fee % to 802. Loan Discount % to 803 Appraisal Fee Lo 804 Credit Report to 805 Lenders Inspoctimi Fee to 806 MoilpleInsurance Applicouon to 807 Assumptiwl Fee to 900, Items RMulred by Lender- To Be Paid in Advance 901. Interest from 9/23/2022 to 10/I/2022 @Sftay 902 Mortgage Insurance Premium for months to 903 Hazard Insurance Premium for years to 1000. Rescrves OcpoAtcd Willi Lender 1001. 1lazard insurance months per month 1002. Mortgage insurance months (q1 per month 1003 Special Imptuvem4m Taxes months [i7 ppr month 1004. County pmperty taxes months per month 1005, Assessment'] axes months a per month 1006. School properly taxes months per month 1007, HOA/POA Dues months I@ per month 1008, Rental Proralions months yyl pr7 month IUf 1. Aggregate Adjustment 1100, 'Title Charges 1101. Closing Fee to City Title & C1691 R LLC - Closing Fees $500.00 $500.00 1102. Tille Services Fee to lily 'Title & Closing LLC - Title Services S200.00 $200.06 1103. FedExNdire Lo FedEx 1104. CPL to City Title& Closing LLC• ChiMag Fees 1105 Document preparation to Hile Law Firm, PLLC $65.00 1106. Nobly lees to 1 107 Attorney's fees to (imWe$ above items numbers: j 1108 Title insurance to City Tille & Closing LLC • THIe Preridanis S155,92 S155.93 (includes above items numbers: ) 1109. Lender'scowrage S0.00/S0.00 1 1 10. Osssiers coverer SBU,OBStl0150.0tl 1209. Governmentllceprding and'TransferChArger 1201 Recardmg Fees Deed 815.00 ; Mongagc ; Rd to Circuit Clerk Transfer S1250 S12.50 1202. City/Conilty Transfer Dced ; ktongagc to Fees 1203 Slate Transfer Fees Dccd ;Mongage to llrp.rtmrnl of Frwncrk Adminiatrmion 1204. Taxcertificates L0 1205. E- File Docs to EPN S2.001 S2.00 1300. ,Addilioruil Sctllemenl Clutrges 1301. Sun'oy to 1302 Pest lngmtion?Utmlte to 1400, Total Sedlemetil Chnrgcs (enter on lines 103, Section J and Sol, 5tetion K) $870.42 S935,43 I have carefully reviewed the I IUD -I Settlement Staement and to the best of my knowledge and belief, it is a true and accurate statement of all receipts and disbursements made on my account or by me in Ibis transaction. I further certify that I have received a completed copy of pages], 2 and 3 of this I IUD -I Settlement Statement Payneless I I. By !' ne dltps. M ger SETTLEMENT AGENT CERTIFICATION 'I he NUD-1 Settlement Statement which I have prepared is a true and accurate account of this transaction I have caused lire funds to be disbursed in accordance with _ cffw 1. i �7 scille[ne[ nl DPW Warning: It is a crime to knowingly make false statements to the United States on this orany other similar form Penalties upon conviction can include a fine and unprisu[uru:nt For deudis see: Title 18 U,S. Code Section 1001 and Scchpn 1010. Previous Mitions are Obsolete Tlie CILy0F yclleviIle.Ark as Llot •Id 3mdair, am n r 1 .sett oy"t�LCi{ @lark Vi% ��1511ll frrr� +4�ti��4r�RiC FA1'�T7�VILLE ;7D City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar) Budget Year Division Adjustment Number /Org2 FIRE (300) 2022 Requestor: Brad Hardin BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION: Adjustment of Funds to utilize the revenue received from the sale of property located at 1010 S. Hollywood Ave. The funds will be moved to the Capital Improvement expense account of Firefighter Safety Equipment. These funds will be utilized for purchasing bailout system lifesaving firefighter safety equipment. RESOLUTION/ORDINANCE COUNCIL DATE: 10/18/2022 LEGISTAR FILE ID#: 2022-0918 Hovy 3lack� 9/26/2022 12:46 PM Budget Director Date TYPE: D - (City Council) JOURNAL #: GLDATE: 10/18/2022 CHKD/POSTED: TOTAL Account Number 79,149 79,149 Increase / (Decrease) Expense Revenue Proiect.Sub# Project Sub.Detl AT v.20220919 Account Name 4470.001.9470-4881.02 - 79,149 16002 1 RE Gain/Loss - Sale of Assets 4470.300.8300-5210.00 79,149 - 16002 1 EX Minor Equipment H:\BudgetAdjustments\2022-Budget\CITY COUNCIL\10-18-22\2022-0918 BA Fire Lot Sale at Station 6 1 of 1