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2291 C-. 1 RESOLUTION NO. 2291 A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND CITY CLERK TO EXECUTE AND GRANT AN OPTION TO THE ARKANSAS STATE HIGHWAY DEPARTMENT TO PURCHASE CERTAIN PROPERTY LOCATED IN THE CITY OF LITTLE ROCK, ARKANSAS; AND FOR OTHER PURPOSES. BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS: SECTION 1. The Mayor and City Clerk are hereby authorized and directed to execute and grant an option to the -^.rkansas State Highway Department to purchase certain property located in the City of Little Rock, Arkansas, which option shall be in form and words as follows: 'i . d c t N . 53 Job No. 6521 • Grantor: City of little Rock Address: Little Rock, Arkansas Grantor: Address: Grant e: ARKANSAS STATE HIGHWAY COMMISSION IN CONSIDERATION of the benefits that will inure to the grantor and/or to the public , We , the undersigned, hereby give and grant to the Arkansas State Highway Commission, an agency of the State of Arkansas, upon the terms and conditions hereinafter stated, the option to buy the following described real estate , situated in the County of Pulaski , State of Arkansas, to-wit: Being part of the North Half of the Northeast Quarter of the Northwest Quarter of Section 22, Township 1 North, Range 12 West, Pulaski County, Arkansas, or more particularly described as follows; Starting at the concrete post at the Northeast Corner of the Northwest Quarter of the Northeast Quarter, Section 22; thence North 88° 08' West along the Section line a distance of 1346,9 feet to the West right of way line of U. S. Highway 167; thence South 2° 54' West along the aforementioned right of way 510.5 feet to the point of beginning. Beginning at the above described point; thence continue South- westerly along the aforementioned right of way line of U.S. Highway 167, a distance of 161. 1 feet; thence North 87° 47' West 536. 7 feet to a point; thence North 75° 31' East along the North right of way line of the Little Rock South Bypass a distance of 560.4 feet to the point of beginning and containing 0.989 acres. Grantor will not furnish an abstract---nor stamps for the deed. The said Commission shall have the irrevocable right to exercise and close this option at any time within ;;,J days from date; and We agree to deliver to the said Commission a good warranty deed conveying good and merchantable title to said real estate, and to furnish and deliver to the said Commission, at its place of business located in the Right-of-Way Division in the Highway Building, State Capitol Grounds , Little Rock, Arkansas, an abstract showing good and merchantable title. It is agreed that if, within the time above specified, the said Commission shall declare its intention to exercise this option of right to purchase the said land, the grantor will deliver the said warranty deed to and receive payment hereunder from the said Commission at its place of business as hereinabove specified. Unless stated to the contrary herein, the conveyance shall include buildings, improvements and appurtenances to the land described. Upon delivery of said deed and the clearing of title satisfactory to the said Commission, the Grantor will be paid the sum of TWO HUNDRED FIFTY $ NO/100 • Dollars, ($ ?50.OQ ) as full payment of the purchhnse price of said real estate including all damages, if any, and all damages , if any, to the remaining land of the grantor by reason of the taking and use thereof , provided that it is expressly understood that the said Col-mission shall not be obligated further unless stated herein , to-wit : It- is understood and agreed that the warranty deed Making the con- veyance of the property described shall contain provisions substantially as follows, to-wit: "This conveyance is made for the purpose of a controlled access highway facility and the Grantor_ releases and re- linquishes to the Grantee all abutter' s existing, future and potential common law or statutory rights of access between the main thoroughfare of such hiahway facility and the Grantor' s remaining abutting and contiguous land except that there is reserved and excepted to Grantor_, its heirs and assigns, the right of direct access, as prescribed and limited by the regulations and policies of the Arkansas State Highway Commission to any adjacent frontage road if established and while it may be maintained by proper authority in front of said land ; provided that such policies and re- gulations shall not prohibit entry onto the frontage road from the abutting and adjoining lands , however, there shall be no right of direct access from such frontage road to and from the nearest lane of the thruway or main travelled roadway but such access shall be only at interchange points as may be established and maintained by proper authority. It is expressly . intended that these covenants, burdens, and restrictions shall run with the land and shall forever bind the Grantor_; its _ heirs and assigns. " • We further agree neither , to sell nor encumber the said real estate during the term of this option. In the event that any buildings, fixtures , apnurtenances , . or other things are to pass to and become the property of the State in connection with the real property herein covered, we agree to keep the same in good condition without waste, damage ortruction. The State shall have the right to enter upon and take possession of the said property upon the execution and delivery of this option, but entry upon said premises for the purpose of inspection or survey or any slight or inadvertent entry without material damage or injury to the realty, or without the exercise of dominion thereover to the exclusion of the undersigned, shall not be construed as a final election to close this option. No statements, expressions of opinion, representations or agreements of any nature whatsoever, not herein expressly stated, made by any representative or agent of the State Highway Department shall be binding on, or of any effect against, the State or the Arkansas State Highway Commission. All claims for damage , injury, or loss on account of failure to close this option are, hereby, expressly waived. Dated this day of 19 (SEAL) (SEAL) NAME _._—._ ADLRE • SECTION 2. This resolution shall be in full force and effect from and after its adoption. ADOPTED: February 2, 1959 ATTEST: APPROVED: ` 1)c,oLA, City Clerk Tay .