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8421WO = 483 1 RESOLUTION NO. 8.421 2 3 A RESOLUTION AUTHORIZING THE CONVEYANCE OF 4 10 ACRES IN THE LITTLE ROCK PORT INDUSTRIAL 5 PARK TO BABCOCK & WILCOX -- ST COMPANY, A 6 DELAWARE CORPORATION AND FOR OTHER PURPOSES. 7 8 WHEREAS, Babcock & Wilcox - ST Company, a Delaware 9 Corporation ( "Babcock & Wilcox ") is purchasing certain 10 industrial property located in the Little Rock Port Industrial 11 Park presently owned by Arkla Industries, Inc., and in 12 connection therewith desires to acquire certain adjacent 13 property owned by the City of Little Rock, Arkansas ( "the City "), as follows: 14 A tract of land situated in the SW 1/4 of the 15 SE 1/4, Section 16, Township 1 North, Range 11 16 West of the Fifth Principal Meridian, City of 17 Little Rock, Pulaski County, Arkansas, being 18 more particularly described as follows: Commencing at the Southeast Corner of the SW 19 1/4 of the SE 1/4, Section 16, Township 1 20 North, Range 11 West, thence N 01° 30' 52" E, 21 348.18 feet along the East line of the West 22 1/2 of the SE 1/4 of said Section 16; thence 23 N 880 29' 08" W, 96.50 feet to a point on the West right -of -way line of Fourche Dam Pike, 24 said point also being the Point of Beginning; 25 thence N 880 47' 31" W, 970.24 feet; thence N 26 080 10' 35" E, 465.05 feet; thence S 88° 46' 27 58" E, 916.07 feet to a point on said West 28 right -of -way line of Fourche Dam Pike; thence along said right -of -way line, S 01° 30' 52" W, 29 461.44 feet to the Point of Beginning, and 30 containing 9.99 acres, more or less; 31 and 32 WHEREAS, the City is prepared to sell the property for the 33 good and valuable consideration offered, and WHEREAS, as further consideration the City has been asked 34 to vacate a forty foot rail easement to serve property lying to 35 the south of the above described property, and 36 e y _9 r M = mom 1 WBERF.AS, at a special meeting of the Board of Directors of 2 the Little Rock Port Authority held on December 21, 1990, it was 3 unanimously recommended that the City approve the vacation of the railroad easement since it is no longer required. 4 NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF 5 THE CITY OF LITTLE ROCK, ARKANSAS, 6 SECTION 1: The Board hereby finds that the proposed sale 7 will secure and develop industry in the Little Rock Port 8 Industrial Park, thereby encouraging the provision and continuation of substantial employment and payrolls. 9 SECTION 2: The sale of the property described herein to 10 Babcock & Wilcox for the consideration stated is hereby 11 approved, and the Mayor is authorized and directed to execute 12 for and on behalf of the City a Warranty Deed and any 13 appropriate Plat and Bill of Assurance necessary to convey said property, and the City Clerk is hereby authorized and directed 14 to attest said instruments and to deliver the same to the Office 15 of the City Attorney for delivery of same upon receipt of said 16 consideration. 17 SECTION 3. In addition to other good and valuable 18 consideration, the City agrees to accept the sum of seventy -five thousand dollars ($75,000) as the purchase price for said 19 described property. 20 SECTION 4. In addition to the conveyance of the property 21 described herein, the City also agrees to vacate a forty foot 22 railway easement previously reserved, and the Mayor is 23 authorized and directed to execute the Release of Easement attached as Exhibit A to this Resolution, and the City Clerk is 24 hereby authorized and directed to attest said instrument and to 25 deliver the same to the Office of the City Attorney for delivery 26 of same upon receipt of said consideration for the purchase of 27 the property. 28 ADOPTED: December 26, 1990 29 30 A T: APPROVED, -� 31 12 A4 0, 1 32 'Tir-CZECHI -Ujvrx CLERK F.* -T BUY- 33 APPRO D T�� 34 35 STODOLA, CITY ATTORNEY 36 00491 484 RELEASE OF EASEMENT KNOW ALL MEN BY THESE PRESENTS: WHEREAS, the City of Little Rock, Arkansas ( "Grantor "), by Warranty Deed filed of record November 12, 1981 in the office of the Circuit Clerk of Pulaski County, Arkansas as Instrument No. 81- 43018 (the "Warranty Deed ") conveyed to Arkla Industries, Inc. ( "Grantee ") certain property in Little Rock, Pulaski County, Arkansas, more particularly described in such Warranty Deed; and WHEREAS, in the Warranty Deed the Grantor reserved a forty foot rail easement to serve property lying to the south of the tract conveyed in the Warranty Deed; and WHEREAS, the Grantor desires to release all of its interest in this easement; NOW, THEREFORE, Grantor does hereby release and convey to Grantee any and all interest in the forty foot rail easement reserved to it in the Warranty Deed. IN WITNESS WHEREOF, the City of Little Rock, Arkansas, a municipal corporation, has executed this instrument this 31A.„ day of cs,- �� , 1990. CITY OF LITTLE ROCK, ARKANSAS 485 n n Li By: T, 11 i ''i tJ c..-. Mayor I At � n City Clerk —(; e Y,r �..l 1 \~ ACKNOWLEDGMENT STATE OF ARKANSAS ) ) ss. COUNTY OF PULASKI ) On this 311- day of December , 1990, before me, a Notary Public, duly commissioned, qualified and acting, within and for said County and State, appeared in person the within named Floyd G. Villines, III and Jane Czech , to me personally well known, who stated that they were the Mayor and City Clerk, respectively, of the City of Little Rock, a municipal corporation, and were duly authorized in their respective capacities to execute the foregoing instrument for and in the name and behalf of said corporation, and further stated and acknowledged that they had so signed, executed and delivered said foregoing 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 A /.6Q- day of December , 1990. yLL 9.,.Q ac NOTARY PUBLIC My Commission Expires: 1-3- �Iypv w.Ri 2 486 WARRANTY DEED M air M M M nam The City of Little Rock, an Arkansas municipal corporation, GRANTOR, by its Mayor, duly authorized by proper resolution of its Board of Directors, for TEN DOLLARS ($10.00) and other valuable consideration, the receipt of which is hereby acknowledged, does hereby grant, bargain, sell and convey unto Babcock & Wilcox -ST Company, a Delaware Corporation, GRANTEE, and unto its successors and assigns forever, the following described lands in the County of Pulaski and State of Arkansas, to wit: A tract of land situated in the Southwest quarter of the Southeast Quarter of Section 16, Township 1 North, Range 11 West of the Fifth Principal Meridian, City of Little rock, Pulaski County, Arkansas, being more particulary described as follows: Commencing at the Southeast corner of the Southwest Quarter of the Southeast Quarter of Sectoin 16, Township 1 North, Range 11 West; thence North 01 degrees 30 minutes 52 seconds East, 348.18 feet along the East line of the West one half of the southeast Quarter of said Section 16; . thence North 88 degrees 29 minutes 08 seconds West, 96.50 feet to a point on the West right of way line of Fourche Dam Pike, said point also being the Point of Beginning; thence North 88 degrees 47 minutes 31 seconds West 970.24 feet; thence North 08 degrees 10 minutes 35 seconds East, 465.05 feet; thence South 88 degrees 46 minutes 58 seconds East 916.07 feet to a point on said West right of way line of Fourche Dam Pike; thence along said right of way line, South 01 degrees 30 minutes 52 seconds West 461.44 feet to the Point of Beginning, and containing 9.99 acres, more or less. To have and to hold unto said GRANTEE, and unto its successors and assigns forever, with all of the appurtenances thereunto belonging. GRANTOR hereby covenants with the said GRANTEE that it will forever warrant and defend title to said land against all claims whatsoever. IN WITNESS WHEREOF, the name of the Grantor is hereunto affixed by its Mayor and its seal is affixed by its City Clerk, this 4th day of January, 1991. CITY OF LITTLE ROCK, ARKANSAS yor ATTEST: r 1�. 1W • PREPARED BY THE OFFICE OF THE CITY ATTORNEY ACKNOWLEDGEMENT STATE OF ARKANSAS) ) ss COUNTY OF PULASKI) I, Bonnie Engster notary public in and for said county in the state aforesaid, do hereby certify that Sharon Priest, personally known to me to be the Mayor of the City of Little Rock, Arkansas, and Robbie Hancock, personally known to me to be the City Clerk of the City of Little Rock, Arkansas, appeared before me this day in person and severally acknowledged that as such City Mayor and City Clerk, they signed and sealed the said instrument and caused the seal of said City of Little Rock to be affixed thereto pursuant to the authority of the Board of Directors of the City of Little Rock, Arkansas, as to their free and voluntary act and deed of said City of Little Rock, Arkansas, for the uses and purposes therein set forth. Given under my hand and notarial seal this I day of 1991. Notary ic/ L/ My Commission Expires: W t � � STATE OF ARKANSAS N�_1�M • � 1 : ti.�l A F F I D A V I T That, to the best knowledge and belief of the undersigned owner(s) and/or representative(s) accordingly, after being first duly sworn, on oath state, that as an inducement to Beach Abstract & Guaranty Company to close in escrow and/or issue title insurance policies on subject - property, do hereby make the following statements, to -wit: That I /we are the owner(s) or duly authorized representative(s) thereof, of the following described lands situated in the County of Pulaski, State of Arkansas, to -wit: A tract of land situated in the.sW; SF}; of Section 16, Township 1 North, Range 11 West, Pulaski County, Arkansas, imre particularly described in Title Comaitnent %..90- 11206A. I /we further certify that there is no adverse occupant of said lands; THAT I /we, have been in peaceable possession of said lands during our tenure of ownership; THAT there are no undisclosed options to purchase, sales contracts, lease agreements or mortgages outstanding affecting said property; THAT there is no pending litigation in any court whereby I /we are subject to a money judgment and that no judgment in any court of record has been entered against me /us at.the time of this closing; AND that I /we have made no improvements thereon during the past 130 days for which a Mechanics' and Materialmen's lice may be filed. I /we further certify that no appliances have been installed thereon an deferred payments which are unpaid and there are no financing statements that are unpaid. I /we further certify that there are no delinquent assessments dune to the Municipal Sanitary Sewer System. I /we further certify, that said property is not traversed by any road, ways or easements, not shown of record. WITNESS my /our hand(s) Of January 1 and seal (s) on this 4th 19 91 CITY OF =u Ica sAS �Di yon ifl Uaa' P,, City Clerk day a f SUBSCRIBED AND SWCW to before me, a No Public, on this 4th day of January , 19 9 Notary Public My Commission Expires: 1/0 alia-