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:
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Kara Paxton, City Clerk Treasurer 7
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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
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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
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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�_
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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
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SUBSCRIBED AND SWORN to before me this 1-3— day of r•s d' ,r 20,V
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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
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By.
Attest:
Kim Joh
ACKNOWLEDGMENT
STATE OF ARKANSAS
SS
COUNTY OF WASHINGTON
City Clerk -Treasurer
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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
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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