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RESOLUTION NO. —10, 162
2
3 A RESOLUTION AUTHORIZING THE EXCHANGE OF
4 CERTAIN REAL PROPERTY WITH DELTIC TIMBER
5 CORPORATION FOR A COMMUNITY PARK SITE IN
6 LITTLE ROCK; AND FOR OTHER PURPOSES.
652
7
8 WHEREAS, in 1989 Deltic conveyed to the City certain real property in Chenal
9 Valley, subsequent to its annexation to the City of Little Rock, for the purpose of the
10 development of community services at that location, and
11 WHEREAS, the City has not developed the dedicated site for community services,
12 instead constructing such facilities at other locations in the City, and
13 WHEREAS, the City has determined that it no longer needs the dedicated site for
14 community services and Deltic has expressed its desire to have the property returned to it for
15 future development; and
16 WHEREAS, the City has determined the need for a community park site in this area
17 and Deltic has agreed to dedicate another site within its boundaries which is more suitable for
18 a park.
19 NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
20 OF THE CITY OF LITTLE ROCK, ARKANSAS:
21 SECTION 1. The Mayor and City Clerk are authorized to execute an Exchange Deed
22 in substantially the form attached hereto as Exhibit "A ", upon the approval of the City
23 Attorney, for the exchange of real property in Chenal Valley for a community park site.
24 ADOPTED: December 16, 1997
25 ATTEST: APPROVED:
26
27
ROBBIE HANCOCK
28 CITY CLERK
29
30 APPROVED AS TO FORM:
31
32
THOMAS M. CARPENT
33 CITY ATTORNEY
34
35
36
EXHIBIT "A"
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653
E \CHANGE DEED
KNOW ALL MEN BY THESE PRESENTS:
This Exchange Deed made by and between CITY OF LITTLE ROCK, ARKANSAS
(hereinafter called CITY) and DELTIC TIMBER CORPORATION, a Delaware corporation and
successor by merger with DELTIC FARM & TIMBER CO., INC., P. 0. Box 7200, El Dorado,
Arkansas 71731-7200 ( hereinafter called DELTIC);
WITNESSETH:
That in consideration of the exchange of properties, DELTIC hereby grants, bargains, sells,
conveys unto CITY, its successors and assigns, forever the following lands lying in the County of
Pulaski, State of Arkansas, to -wit:
A part of the S/2 of Section 24 and a part of the N/2 of Section 25,
Township 2 North, Range 14 West, Pulaski County, Arkansas, more
particularly described as:
Starting at the Northwest comer of the SW /4 SEA, said Section 24;
Thence South 89 deg. 12 min. 06 sec. East, along the north line thereof,
458.04 ft.;
Thence South 01 deg. 20 min. 48 sec. West, 1359.03 ft.;
Thence South 73 deg. 37 min. 16 sec. West, 594.07 ft.;
Thence North 32 deg. 40 min. 41 sec. West, 100.27 ft.;
Thence Northwesterly along the arc of a 716.20 ft. radius curve to
the right, a chord bearing and distance of North 27 deg. 14 min. 24 sec.
West, 135.75 feet;
Thence North 21 deg. 48 min. 07 sec. West, 776.84 ft.;
Thence Northeasterly along the arc of a 881.47 ft. radius curve to
the left, a chord bearing and distance of North 41 deg. 03 min. 19 sec. East,
804.27 ft. to a point on the north line of the SEA SW /4 of said Section 24;
Thence South 89 deg. 12 min 06 sec. East along said North line,
20.46 ft. to the point of beginning, containing 24.78 acres, more or less.
SUBJECT to all easements, agreements, and restrictions of record affecting the above
described land.
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EXCEPTING all prior, valid reservations and/or conveyances of record of oil, gas, and other
minerals in and under the above described land.
This conveyance is made on condition that the lands herein conveyed be used by CITY
exclusively for a Municipal Service Center for public services, including, but not limited to, parks
and open spaces, recreation centers, police and fire substations, branch CITY offices, libraries, and
other uses of a like character and nature, it being understood that the public services permitted on the
land herein conveyed shall be consistent with and supportive of the residential, recreational and retail
uses envisioned for the area designated as Chenal Valley. The conditions set forth herein are
covenants running with the land. DELTIC and CITY recognize that a breach of the covenants set
forth herein may not be adequately redressed at law, that equitable relief is appropriate, and that
DELTIC accordingly may seek injunctive relief for any such breach as well as damages.
This conveyance is subject to the further condition that as long as all other buildings in Chenal
Valley are reviewed by an Architectural Review Committee established by DELTIC, or its successors
and assigns, CITY shall submit its plans for the construction of improvements upon the hereinabove
described lands to the Committee for review and approval and shall not construct any improvements
thereon without having first acquired such approval.
This conveyance is subject to the further condition that CITY shall not be permitted the use
of the cy ores doctrine as to the lands herein conveyed.
This conveyance is subject to the further covenant which shall be a covenant running with the
land, that neither CITY nor its successors and assigns shall sell, lease or otherwise alienate all or any
part of the lands for any use or purpose, except for public services, including, but not limited
1)
to, parks and open spaces, recreation centers, police and fire substations, branch CITY offices,
libraries, and other uses of a like character and nature, it being understood that the public services
permitted on the lands herein conveyed shall be consistent with and supportive of the residential,
recreational and retail uses envisioned for the area designated as Chenal Valley.
And in consideration of the exchange of properties, CITY hereby grants, bargains, sells and
conveys unto DELTIC, its successors and assigns forever, the following lands lying in the County
of Pulaski, State of Arkansas, to wit:
Part of Section 25, Township 2 North, Range 14 West more
particularly described as:
Starting at the center of Section 36, Township 2 North, Range 14
West;
Thence South 0 deg. 45 min. 34 sec. West along the North -South
centerline of said Section 36 for 1,021.60 feet to a point in the surveyed
centerline of Chenal Parkway,
Thence along said surveyed centerline Northwesterly along the arc
of a 2,864.79 foot radius curve to the left having a chord bearing and
distance of North 22 deg. 55 min. 45 sec. West 873.62 feet to a point;
Thence continuing along said surveyed centerline North 31 deg. 42
min. 05 sec. West 2,164.01 feet to a point;
Thence continuing along said surveyed centerline Northwesterly
along the arc of a 5,729.58 foot radius curve to the right having a chord
bearing and distance of North 26 deg. 52 min. 34 sec. West 964.0 feet to a
point,
Thence continuing along said surveyed centerline North 22 deg. 02
min. 59 sec. West 811.45 feet to a point of intersection with the centerline
of a planned street;
Thence along the centerline of said planned street North 79 deg. 48
min. 07 sec. East 365.64 feet to a point;
Thence continuing along the centerline of said planned street
Northeasterly along the arc of a 409.26 foot radius curve to the left having
a chord bearing and distance of North 51 deg. 00 min. 34 sec. East 394.23
feet to the POINT OF BEGINNING.
Thence leaving the centerline of said planned street North 67 deg. 46
min. 57 sec. West 230.00 feet to a point;
Thence North 22 deg. 13 min. 03 sec. East 200.00 feet;
Thence South 67 deg. 46 min. 57 sec. East 230.00 feet to a point on
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the centerline of said planned street;
Thence along the centerline of said planned street South 22 deg. 13
min. 03 sec. West 200.00 feet to the point of beginning; containing 1.0560
acres, more or less.
AND ALSO Part of the West Half of Northeast Quarter (W /2 of
NE /4 of Section 36, Township 2 North, Range 14 West more particularly
described as follows:
Starting at the Southeast comer of the SW /4 of NE/4 of said Section
36,
Thence North 1 deg. 04 min. 44 sec. East along the East line of said
SW /4 ofNE/4 222.82 feet to a point.
Thence North 88 deg. 54 min. 26 sec. West along a line parallel with
the South line of said SW /4 of NE /4 650.0 feet to the POINT OF
BEGINNING:
Thence continuing North 88 deg. 54 min. 26 sec. West along a line
parallel with the South Line of said SW /4 of NE /4 650.0 feet to the POINT
OF BEGINNING:
Thence continue North 88 deg. 54 min. 26 sec. West along said
parallel line 391.25 feet,
Thence North 1 deg. 05 min. 34 sec. East 183.76 feet to a point;
Thence North 25 deg. 25 min. 37 sec. East 454.63 feet to a point;
Thence North 33 deg. 22 min. 03 sec. West 783.33 feet to the
centerline of a planned street;
Thence along said centerline Northeasterly along the arc of a
5,729.58 foot radius curve to the left, having a chord bearing and distance
of North 75 deg. 16 min. 46 sec. East 694.81 feet to a point of intersection
with the centerline of another planned street;
Thence along the centerline of said planned street South 27 deg. 21
min. 01 sec. East 258.80 feet to a point;
Thence continuing along said centerline Southeasterly along the arc
of a 1,145.92 foot radius curve to the left having a chord bearing and
distance of South 37 deg. 04 min. 53 sec. East 387.35 feet to a point,
Thence leaving the centerline of said planned street South 37 deg. 41
min 36 sec. West 644.09 feet to a point;
Thence South 1 deg. 05 min. 34 sec. West 383.99 feet to a point of
beginning containing 16.50 acres, more or less.
Containing in the aggregate 17.56 acres, more or less.
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SUBJECT to all easements, agreements, and restrictions of records affecting the above
described lands.
EXCEPTING all prior, valid reservations, and/or conveyances or record of oil, gas, and other
minerals in and under the above described land.
TO HAVE AND TO HOLD the same unto the respective Grantees and unto their successors
and assigns forever, with all the appurtenances thereunto belonging.
And each grantor covenants with the grantee that it will forever warrant and defend the title
to such conveyed lands against all claims and encumbrances arising through or under the conveying
party but none other.
IN WITNESS WHEREOF, this instrument is executed this day of
1997.
ATTEST:
Robbie Hancock
City Clerk
ATTEST:
W. Bayless Rowe
Secretary
CITY OF LITTLE ROCK, ARKANSAS
Jim Dailey
Mayor
DELTIC TIMBER CORPORATION
Ron L. Pearce
President
R
STATE OF ARKANSAS 658
DELTIC ACKNOWLEDGMENT
COUNTY OF UNION
BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public within
and for the County aforesaid, duly commissioned and acting, appeared in person Ron L. Pearce and
W. Bayless Rowe, to me well known, who stated that they were the President and Secretary of
DELTIC TIMBER CORPORATION, a Delaware corporation, and they were duly authorized in
their respective capacities to execute the foregoing Exchange Deed for and in the name and behalf
of said corporation, and further stated that they had executed the same for the consideration and
purposes therein mentioned and set forth.
WITNESS my hand and seal as such Notary Public on this day of
. 1997.
Notary Public
My commission expires:
STATE OF ARKANSAS
CITY ACKNOWLEDGMENT
COUNTY OF PULASKI
BE IT REMEMBERED, that on this day came before the undersigned, a Notary Public
within and for the County aforesaid, duly commissioned and acting, appeared in person Mayor Jim
Dailey and City Clerk Robbie Hancock, known to me as the persons whose name are subscribed to
the foregoing Deed, and they were duly authorized in their respective capacities to execute the
foregoing Deed for and in the name and behalf of said CITY, and further stated that they had
executed the same for the consideration and purposes therein mentioned and set forth.
WITNESS my hand and seal as such Notary Public on this day of
1997.
My Commission Expires:
R
Notary Public