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139771 RESOLUTION NO. 13,977 2 3 A RESOLUTION TO AUTHORIZE THE RENEWAL OF THE EXISTING 4 CONTRACT WITH ASSOCIATES CLOSING & TITLE, LLC, FOR ONE 5 (1) ADDITIONAL YEAR TO PROVIDE TITLE SERVICES FOR 6 PROPERTIES ACQUIRED BY THE LAND BANK; AND FOR OTHER 7 PURPOSES. 8 9 WHEREAS, pursuant to Resolution No. 13,786, the Board of Directors authorized the City Manager 10 to negotiate a contract with Associates Closing & Title, LLC, to provide title services for the Land Bank 11 Program; and, 12 WHEREAS, the City Manager subsequently executed a one (1) -year contract for title services with 13 Associates Closing & Title, LLC; and, 14 WHEREAS, the title services contract includes an option to renew for one (1) additional year by 15 mutual agreement of the parties and upon approval by the Little Rock Board of Directors; and, 16 WHEREAS, the original term of the contract for title services will expire on October 30, 2014; and, 17 WHEREAS, both parties wish to exercise the option to extend the contract for title services for one 18 (1) additional year; and, 19 WHEREAS, upon approval by the Board of Directors, the term of the contract will be extended until 20 October 30, 2015. 21 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 22 OF LITTLE ROCK, ARKANSAS: 23 Section 1. The Board of Directors hereby authorizes the renewal of the contract for title services with 24 Associates Closing & Title, LLC, for one (1) additional year to provide title services for the Land Bank 25 Program. 26 Section 2. Funding approved in the 2014 Land Bank General Fund Allocation and the 2012 27 Consolidated Plan. 28 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 29 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 30 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 31 effect as if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 32 ordinance. 33 Section 4. Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with 34 the provisions of this resolution are hereby repealed to the extent of such inconsistency. [Page 1 of 21 1 ADOPTED: October 6, 2014 2 ATT "f' APPROVED: 3 ��{r 4 4 4 5 ' san lg y, City Clerk 6 A ` `RO ' ' AS TO LEGAL FORM: 7 8 a 9 Bi Mano, Chie Deputy City Attorney 10 // 11 // 12 // 13 // 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // IPage 2 of 21 Mark Stodola, Mayor