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14845 1 RESOLUTION NO. 14,845 2 3 A RESOLUTION TO TRANSFER TITLE VIA QUIT-CLAIM DEED FOR 4 PROPERTY SOLD BY THE CITY OF LITTLE ROCK, ARKANSAS, TO 5 BE USED FOR NEIGHBORHOOD REVITALIZATION PROGRAMS; 6 AND FOR OTHER PURPOSES. 7 8 WHEREAS, the Board of Directors has stated as one of its goals a desire to provide for 9 neighborhood revitalization, and has taken special efforts to accomplish this goal through its use of 10 various City and Federal Funds, and in affirmative actions such as the creation of a Land Bank 11 Commission; and, 12 WHEREAS, in order to accomplish this goal is it required that properties be obtained and sold by the 13 City in areas that are appropriate for revitalization; and, 14 WHEREAS, Robert Trezvant has indicated a desire to Purchase the properties located at 3415 West 15 14th Street and 3419 West 14th Street from the City of Little Rock,Arkansas; and, 16 WHEREAS, the City wishes to sell the properties for use in its neighborhood revitalization efforts; 17 and, 18 WHEREAS, City Staff has conducted a title search of the property which revealed valid title to the 19 property and no significant title issues; and, 20 WHEREAS, the City has performed an environmental assessment of the property pursuant to 24 21 C.F.R. § 58, et seq. (2003),which revealed no environmental problems; and, 22 WHEREAS, in consideration for Four Thousand Dollars($4,000.00),the City will sell the properties 23 for the public purpose of neighborhood revitalization, and, 24 WHEREAS, The City of Little Rock will provide Robert Trezvant with a Quit-Claim Deed to the 25 properties, attached as Quit-Claim Deed and to include stipulations set forth in the attached agreement, 26 labeled Exhibit A and Offer and Acceptance, labeled Exhibit B; and, 27 WHEREAS,Arkansas State Law requires that the City sell the property by resolution adopted by the 28 Board of Directors. 29 NOW,THEREFORE,BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY 30 OF LITTLE ROCK,ARKANSAS: 31 Section 1. The Board of Directors hereby provides a quit-claim deed to the properties described as 32 3415 West 14th Street and 3419 West 14th Street, in favor of Robert Trezvant. 33 Section 2. The property will be used for a private purpose to serve the public, specifically to improve 34 City Revitalization Programs. [Page 1 of 12] 1 Section 3. Severability. In the event any title, section, paragraph, item, sentence, clause, phrase, or 2 word of this resolution is declared or adjudged to be invalid or unconstitutional, such declaration or 3 adjudication shall not affect the remaining portions of the resolution which shall remain in full force and 4 effect a if the portion so declared or adjudged invalid or unconstitutional were not originally a part of the 5 ordinance. 6 Section 4.Repealer. All laws, ordinances, resolutions, or parts of the same that are inconsistent with 7 the provisions of this resolution are hereby repealed to the extent of such inconsistency. 8 ADOPTED: August 21,2018 9 APPROVED: 10r 1 _ /. /:/. �`Io 11 12 usan ,ng.e,, Clerk Mark Stodola, ' ayor 13 APPR ii G O LEGAL FORM: 14 15 ��� � A_ 16 Thomas M. Carpenter,City Attorne 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 2 of 12] 1 Exhibit A 2 3 Prepared By: 4 Shawn A. Overton,Deputy City Attorney 5 City of Little Rock 6 500 West Markham Street 7 Little Rock,AR 72201 8 9 Representative: 10 Doug Tapp,Redevelopment Administrator—Land Bank 11 12 QUIT-CLAIM DEED 13 14 The City of Little Rock, Arkansas, a municipal corporation, GRANTOR, (defined as the "Grantor"'), 15 for and in consideration of the sum of Four Thousand Dollars ($4,000.00) and other good and valuable 16 consideration paid by Robert Trezvant., an individual, (defined, as the "Grantee(s)"), whose tax mailing 17 address is located at 116 Oakridge Cove, Maumelle, Arkansas, 72113, does grant a Quit-Claim Deed to 18 Grantee(s) and their applicable heirs, beneficiaries, administrators, executor, successors, and assigns the 19 following parcels of real property (defined as the "Property"), so long as Grantee(s) abide by all 20 provisions described in this Quit-Claim Deed, but subject to: 21 (i) all previously recorded right(s), restriction(s), condition(s), covenant(s), reservation(s), 22 easement(s),servitude(s), and other applicable matter(s) in the Property's chain-of-title; 23 (ii) Grantor's reservation of easement rights for the benefit and necessity of any public 24 utilities located in, on, over, under, or through the Property as of the execution date of this Quit- 25 Claim Deed; 26 (iii) Grantor's reversionary rights; 27 (iv) all applicable zoning and building laws and ordinances; 28 (v) all taxes and assessments not yet due and payable; 29 (vi) all matters that would disclosed by an accurate survey of the Property; 30 (vii) any license(s), permit(s), authorization(s), or similar item(s) related to any activity on 31 the Property; 32 (viii) Grantor's reservation and reassertion of all existing or previously recorded or platted 33 easement(s), reservation(s), condition(s), restriction(s), right-of-way(s), highway(s), or other 34 right(s) in the Property's chain-of-title for Grantor's benefit, unless otherwise specifically 35 released by Grantor in a separate instrument of record in the Property's chain-of-title; 36 (ix) all provisions described in this Quit-Claim Deed; [Page 3 of 12] • 1 (x) all provisions described in Grantee(s) Application to Purchase Land Bank Property for 2 Renovation and New Construction or Application for Yard Expansion and Vacant Lot Purchase, 3 or both (defined,collectively, as the"Applications"); and 4 (xi) all provisions described in the Offer and Acceptance (defined as the "Agreement," 5 which is described in,Exhibit-A, and fully incorporated for reference as if rewritten). 6 7 LEGAL DESCRIPTION 8 9 Property is situated in the State of Arkansas, County of Pulaski, City of Little Rock, and further being 10 described hereof. 11 Lot 4 Block 28 Jones and Worthen Subdivision, to the City of Little Rock, Pulaski 12 County, Arkansas; more commonly known as 3415 West 14th Street, Little Rock, 13 Arkansas. Parcel Number is 34L0920028100. 14 And 15 Lot 5 Block 28 Jones and Worthen Subdivision, to the City of Little Rock, Pulaski 16 County, Arkansas; more commonly known as 3419 West 14th Street, Little Rock, 17 Arkansas. Parcel Number is 34L0920028200. 18 19 TERMS& CONDITIONS 20 21 1. COVENANTS RUNNING WITH THE LAND,SUCCESSORS&ASSIGNS: 22 Grantee(s), except to the extent released by Grantor, agrees all provisions described in this Quit- 23 Claim Deed are covenants forever: 24 (i) burdening, benefitting, and running with the land of the Property; and 25 (ii) inuring and binding to the benefit and detriment of Grantor and Grantee(s) and 26 his/her/their/its respective, applicable heirs, beneficiaries, administrators, executors, successors, 27 and assigns. Accordingly, Grantee(s) and his/her/their/its applicable heirs, beneficiaries, 28 administrators, executors, successors, and assigns agree that either Grantee(s) use of the Property 29 or recordation of this Quit-Claim Deed are each deemed actions of Grantee{s) acceptance of all 30 provisions described in this Quit-Claim Deed. 31 2. REQUIREMENTS &RESTRICTIONS: 32 Grantee(s), in further consideration of Grantor granting the Property to Grantee(s), covenant to 33 perform and abide by the following requirements and restrictions after this Quit-claim Deed's date of 34 execution: [Page 4 of 12] 1 2.1 REAL ESTATE TAXES & ASSESSMENTS. For a period of five (5) years, pay all of the 2 Property's Real Property Taxes and assessments becoming due and payable. 3 2.2 DELINQUENCY. Prohibit the Property from suffering any type of delinquency, tax liens, or 4 incur any other associated penalties. 5 2.3 ADVERTISING. Prohibit the construction of any billboards or advertising material on the 6 Property, except for identification signs permitted by Grantor under the Columbus City Graphics Code. 7 2.4 UNLAWFUL ACTIVITY. Prohibit the occurrence of any unlawful activity on the Property. 8 3. DEFAULT.REVERSION&IMPROVEMENT(S): 9 3.1. DEFAULT. Grantee(s), in addition to the provisions described in this Quit-Claim Deed, is 10 required to perform and adhere to all of the provisions described: 11 (i) in Grantee(s) completed Applications that Grantee(s) submitted to Grantor, which 12 Grantor relied upon the Applications to execute this Quit-Claim Deed granting the Property to 13 Grantee(s); and 14 (ii) the Agreement executed between Grantor and Grantee(s), which Grantor also relied 15 upon the Agreement to execute this Quit-Claim Deed granting the Property to Grantee(s). 16 Accordingly. Grantee(s) default if Grantee(s) (a) violate any one or more of the provisions 17 contained in this Quit-Claim Deed, Applications, or Agreement, and (b) fail to cure the default 18 within thirty(30)days after Grantor's written notice of the default to Grantee(s). 19 3.2. REVERSION. Grantor expressly reserves to itself a reversionary interest in the Property in the 20 event or a default by Grantee(s) of any provisions contained in this Quit-Claim Deed, Applications, or 21 Agreement. Upon Grantee(s) default of any provisions described in this Quit-Claim Deed, Applications, 22 or Agreement but at Grantor's sole option and discretion. Grantor reserves the rights to: 23 (i) enter the Property; 24 (ii) take possession of the Property; and 25 (iii) revest the Property in the name of Grantor by executing and recording an "Affidavit on 26 Facts Relating to Title" of record in the Property's chain-of-title giving public notice of the 27 Property's reversion to Grantor. Grantee(s), upon Grantor's notice to Grantee(s) of Grantee(s) 28 default of any provisions described in this Quit-Claim Deed, Applications, or Agreement is 29 required to execute and deliver a recordable deed instrument of conveyance to Grantor, as 30 approved by the Little Rock City Attorney, confirming and perfecting the Property's reversion to 31 Grantor in addition to the affidavit described in this section. 32 FURTHER,the Grantor covenants with the Grantee completed construction for the property that will 33 make the property safe and in code compliant condition in at least two (2) years from closing. Failure to 34 complete construction for the property that will make the property safe and in code compliant condition in 35 at least two(2)years from closing shall cause the property to revert to the Grantor at no cost. [Page 5 of 121 1 3.3. IMPROVEMENT(S). Grantee(s) agree that any improvement(s) on the Property immediately 2 attach and become part of the Property; however. in the event Grantor exercises its reversionary rights, 3 Grantor's revesting of title in the Property is subject and does not defeat, invalidate, or limit the lien of 4 any mortgage(s) financing the construction of any improvement(s) on the Property during Grantee(s) 5 ownership or the Property. In the event Grantor exercises its reversionary rights to the Property,then: 6 (i) all rights, title, interest, and estate to any improvement(s) on the Property immediately 7 vests with Grantor; and 8 (ii) Grantee(s) will be prohibited from possessing any rights or claims against Grantor for 9 contribution, compensation, or reimbursement for any of the improvement(s) on the Property 10 during Grantee(s)ownership of the Property. 11 4. RESERVATIONS: 12 Grantor conveys the Property subject to any previously recorded or platted right(s), restriction(s), 13 condition(s), covenant(s), reservation(s), easement(s), highway(s), right-of-way(s), and other applicable 14 matter(s)in the Property's chain-of-title. Additionally, Grantor forever reserves and reasserts to itself: 15 (i) any existing public right-of-way(s)and highway(s)on the Property; 16 (ii) all previously recorded or platted easement(s) reservation(s), condition(s), 17 restriction(s), right-of-way(s), highway(s), or other right(s) benefitting Grantor but predating 18 Grantor's present ownership of the Property, unless otherwise specifically released by Grantor in 19 a separate instrument of record in the Property's chain-of-title; and 20 (iii) easement rights for the benefit and necessity of all existing public utilities located in, 21 on, over,under, or through the Property as of the execution date of this Quit-Claim Deed. 22 5. RELEASE: 23 Pursuant to the ordinance authorizing Grantor to execute this Quit-Claim Deed, and in order to ensure 24 compliance with the Land Bank Program, Grantor's Director of Housing and Neighborhood Programs is 25 authorized to execute and deliver a recordable instrument, as approved by the Little Rock City Attorney, 26 releasing the Property from the operation of certain restrictive provisions described in this Quit-Claim 27 Deed only upon: 28 (i) Grantee(s} written request to Grantor; and 29 (ii) Grantor's written approval of Grantee(s) satisfaction of all provisions described in this 30 Quit-Claim Deed,Applications, and Agreement. 31 6. RIGHTS &REMEDIES: 32 Grantor is entitled to the injunctive relief described in this section in addition to any other relief 33 Grantor is entitled, included but not limited to specific performance of any provision of this Quit-Claim 34 Deed, without the necessity of proving either actual damages or the inadequacy of otherwise available 35 legal remedies. Grantor, where injunctive relief or specific performance does not appropriately remedy [Page 6 of 12] 1 Grantor, is entitled to recover damages from Grantee(s) for the violation of any provision of this Quit- 2 Claim Deed. Grantor, in its sole discretion but without limiting Grantee(s) respective liabilities or rights 3 under this Quit-claim deed, is permitted to apply any damages recovered to the costs of undertaking any 4 corrective action under this Quit-Claim Deed. Furthermore, Grantee(s) is responsible for all costs incurred 5 by Grantor in enforcing the provisions of this Quit-Claim Deed against Grantee(s), including but not 6 limited to costs and expenses of suit and attorney's fees. Grantor's remedies described in this section are 7 cumulative and are in addition to any present or future remedies existing at law or in equity. 8 7. NON-WAIVER: 9 Grantor or Grantee(s) failure or refusal to exercise any rights described in this Quit-Claim Deed is not 10 a waiver of any rights Grantor or Grantee(s) possess to enforce the other party's obligations through any 11 rights and remedies Grantor or Grantee(s) has at law or in equity for the enforcement of the other party's 12 obligations.Accordingly,no waiver of any kind is valid against Grantor or Grantee(s)unless: 13 (i) reduced to writing; 14 (ii) and executed and approved by Grantor or Grantee(s) authorized representatives and 15 authority; and 16 (iii) recorded in the Property's chain-of-title. 17 8. SEVERABILITY: 18 The remaining provisions of this Quit-Claim Deed will be unaffected and remain valid and 19 enforceable to the full extent permitted by law in the event and for any reason any provision of this Quit- 20 Claim Deed is held invalid or unenforceable under applicable law. 21 // 22 // 23 // 24 // 25 // 26 // 27 // 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // [Page 7 of 12] 1 GRANTOR'S EXECUTION 2 3 Grantor, City of Little Rock, Pulaski County, Arkansas, a municipal corporation, by its authorized 4 representative, Mark Stodola, Mayor of the City of Little Rock, Arkansas, pursuant to authority granted 5 by City of Little Rock, Board of Directors, does voluntarily acknowledge this Quit-Claim Deed on behalf 6 of Grantor on the effective date below. 7 8 City of Little Rock,GRANTOR 9 500 West Markham Street 10 Little Rock,Arkansas 72201 11 12 13 By: Mark Stodola,Mayor 14 15 16 ACKNOWLEDGEMENT 17 18 STATE OF ARKANSAS) 19 ))SS 20 COUNTY OF PULASKI) 21 22 On this day came before me, the undersigned, a Notary Public within and for the County and State 23 aforesaid, duly commissioned and acting personally appeared, Mark Stodola, Mayor of the City of Little 24 Rock, Arkansas, known to me as the duly appointed agent for the Grantor in the foregoing Deed, and 25 acknowledged that he has executed the same for the consideration and purposes therein mentioned and set 26 forth. 27 WITNESS my hand and seal as such Notary Public this day of ,2018. 28 29 30 31 Notary Public 32 33 My Commission expires: 34 // 35 // 36 // 37 // 38 [Page 8 of 12] 1 Robert Trezvant, Grantee 2 116 Oakridge Cove 3 Maumelle,Arkansas 72113 4 5 6 7 By: Robert Trezvant 8 9 10 ACKNOWLEDGEMENT 11 12 STATE OF ARKANSAS) 13 ))SS 14 COUNTY OF PULASKI) 15 16 On this day came before me, the undersigned, a Notary Public within and for the County and State 17 aforesaid, duly commissioned and acting personally appeared, Robert Trezvant, known to me as the 18 Grantee in the foregoing Deed, and acknowledged that they have executed the same for the consideration 19 and purposes therein mentioned and set forth. 20 WITNESS my hand and seal as such Notary Public this day of ,2018. 21 22 23 24 Notary Public 25 26 27 My Commission expires: 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 36 // 37 // [Page 9 of 12] 1 DOCUMENTARY TAX STATEMENT 2 3 I certify under penalty of false swearing that the legally correct amount of documentary stamps have 4 been placed on this instrument. (If none shown, exempt or no consideration paid.) 5 6 City of Little Rock 7 500 West Markham Street,Suite 120W 8 Little Rock,Arkansas 72201 9 10 11 12 By: Doug Tapp,Redevelopment Administrator 13 14 15 ACKNOWLEDGEMENT 16 17 STATE OF ARKANSAS) 18 ))SS 19 COUNTY OF PULASKI) 20 21 On this day came before me, the undersigned, a Notary Public within and for the County and State 22 aforesaid, duly commissioned and acting personally appeared, Doug Tapp,Redevelopment Administrator, 23 City of Little Rock,Arkansas. 24 WITNESS my hand and seal as such Notary Public this day of 25 2018. 26 27 28 Notary Public 29 30 My Commission expires: 31 // 32 // 33 // 34 // 35 // 36 // 37 // [Page 10 of 12] �.1 (" 1 Exhibit B 2 3 OFFER AND ACCEPTANCE 4 5 The undersigned,Robert Trezvant, 116 Oakridge Cove,Maumelle,Arkansas 72113 6 7 1. Herein called the `Buyer(s)" offer(s) to buy, subject to the terms set forth herein, the 8 following properties from the City of Little Rock, 500 West Markham Street, Suite 120W, 9 Little Rock,AR 72201 herein called the"Seller(s)". 10 Lot 4 Block 28 Jones and Worthen Subdivision, to the City of Little Rock, Pulaski 11 County, Arkansas; more commonly known as 3415 West 14th Street, Little Rock, 12 Arkansas.Parcel Number is 34L0920028100. 13 And 14 Lot 5 Block 28 Jones and Worthen Subdivision, to the City of Little Rock, Pulaski 15 County, Arkansas; more commonly known as 3419 West 14th Street, Little Rock, 16 Arkansas.Parcel Number is 34L0920028200. 17 18 The Buyer(s) will pay Four Thousand Dollars ($4,000.00) for the property, $0.00 as a down 19 payment/earnest money and the balance of$4,000.00 as follows: Check at closing 20 2. Special Conditions: 21 • Approval by Land Bank Commission 22 • Approval by Little Rock City Board of Directors 23 • Additional Stipulations: Deed Restriction detailed in Deed 24 1. The Land Bank to pay the Citys closing costs 25 2. Buyer to pay buyers closing costs 26 3. Conveyance shall be made to Buyer(s), or as directed by Buyer(s), by Quit-Claim Deed 27 except it shall be subject to recorded restrictions and easements, if any. 28 4. The owner(s) of the above property, hereinafter called Seller(s), shall furnish at Seller's cost 29 an owner's policy reflecting merchantable satisfactory to Buyer(s) and/or the Buyer's 30 attorney, Seller(s) shall have a reasonable time after acceptance within which to furnish title 31 insurance. If objections are made to title, Seller(s) shall have a reasonable time to meet the 32 objections or to furnish title insurance. 33 5. Buyer herewith tenders $0.00 as earnest money, to become part of purchase price upon 34 acceptance. This sum shall be held by Buyer(s)/Agent/Title Company and if offer is not [Page 11 of 12] 1 accepted or if title requirements are not fulfilled, it shall be promptly returned to Buyer(s). If 2 after acceptance, Buyer(s) fail to fulfill his/her/their obligation(s), the earnest money may 3 become liquidated damages, which fact shall not preclude Seller(s) or Agent from asserting 4 other legal rights which they may have because of such breach. 5 6. Taxes and special assessments, due on or before the closing date shall be paid by the 6 Seller(s). Current general taxes and special assessments shall be pro-rated as of closing date 7 based upon the last tax statement. Insurance, interest and rental payments shall be pro-rated 8 as of closing date. 9 7. Seller(s) shall vacate the property (if applicable) and deliver possession to Buyer(s) on or 10 before one (1)-day after the closing date. Seller(s) agree to pay rent to Buyer(s) of$ n/a per 11 day until possession is given after the closing date if applicable. 12 8. Buyer(s)certifies that he or she has/they have inspected the property and he or she is/they are 13 not relying upon any warranties, representations or statements of the Seller(s)/Agent as to age 14 or physical condition of improvements. The risk of loss or damage to the property by fire or 15 other casualties occurring up to the time of transfer of title on the closing date is assumed by 16 the Seller(s). 17 9. The closing date shall be on or before 18 19 20 Robert Trezant,Buyer Doug Tapp,Redevelopment Administrator 21 (501)590-4527 City of Little Rock Land Bank 22 (Representative of Seller) 23 (501)371-4848 24 dtapp@littlerock.gov 25 26 27 Date Date 28 // 29 // 30 // 31 // 32 // 33 // 34 // 35 // 36 // 37 // [Page 12 of 12]