2356 RESOLUTION NO. 2356
A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND CITY
CLERK TO ENTER INTO AND EXECUTE AN ACQUISITION CONTRACT
WITH CONNER, BALDWIN & FARRIS , A PARTNERSHIP, FOR THE PUR-
POSE OF ACQUIRING PROPERTY LOCATED ADJACENT TO BOTH SIDES
OF CANTRELL ROAD BETWEEN PASCHAL HEIGHTS ADDITION TO THE
CITY OF LITTLE ROCK AND BEECHWOOD STREET IN THE SAID CITY;
AND FOR OTHER PURPOSES.
WHEREAS, the City of Little Rock is desirous of acquiring
certain property located adjacent to both sides of Cantrell Road
between Paschal Heights Addition to the City of Little Rock and
Beechwood Street in the said City; and
WHEREAS, the City desires to employ Warren Baldwin of Conner,
Baldwin & Farris, a partnership, to act as their representative
in the acquisition of such property; and
WHEREAS , the Board of Directors of the City of Little Rock
desires that the Mayor and City Clerk enter into and execute an
Acquisition Contract with the said Conner, Baldwin & Farris for
said work to be performed;
NOW THEREFORE, 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 enter into and execute an Acquisition Contract
with Conner, Baldwin & Farris, a partnership, for the acquisition
of certain property located adjacent to both sides of Cantrell
Road between Paschal Heights Addition to the City of Little Rock
and Beechwood Street in the said City, which Acquisition Contract
shall be in form and words as follows :
.
A C q, U I S I T I O N
C O N T R A C T
This contract made and entered into this day of
1959, by and between the CITY OF LITTLE ROCK, ARKANSAS, acting through
its Mayor and City Clerk, pursuant to provisions of Resolution No. ,
hereinafter referred to as ' Party of the First Fart' , and CONNER, BALD.
WIN b FARRIS, • partnership, hereinafter referred to as 'Party of the
Second Part ,
WITNESSETH:
,-arty ,f the Second Part agrees that their fee per parcel for ac-
quiring the property located adjacent to both sides of Cantrell Road
between Paschal Heights Addition to the City of Little Rock and Beechw+ood
Street in the City of Little Rock, will be based on the following schedule:
5'4, from $1 .00 to $500.00
2 l/2%, from $501 .00 to $10,000.00
2',., from $10,001 .00 to $50,000.00
1 1/27., from $50,001 .00 to $200,000 .00
11, from ?200,001 .00 up .
A 'Parcel of Land" shall be defined as one contiguous piece of land
under one ownership. A parcel of land will be considered acquired when
Party of the Second Part turns over a signed option to the Party of the
First Part.
Party of the Second Part agrees to acquire the property, as outlined
in this contract, within six (6) months from June 2, 1959 , or prepare such
remainrng parcels that have not been acquired for court action and request
that said remaining parcels be condemned.
It is mutually agreed between Party of the First Part and Party of
the Second Part that the fees to be paid, under the schedule set out in
this contract, shall be based on the appraised price and in no event shall
the fees be based on a cost that exceeds the appraised price.
Party of the Second Part agrees to make any and all court appearances
where called upon to do so, but in such event tarty of the First Part
agrees to pay percentages, as outlined in this contract. Said percent-
ages are not to be based upon the awards as handed down by the courts,
but are to be based upon the appraised price. Condemnation suits shall
be filed by the attorneys for the Party of the First Part , who shall
also bear all expense of litigation .
Party of the Second Part agrees not to acquire the property ap-
praised unless authorised by Party of the First Part, and in no event
Tall a price be paid for any given parcel of land more than the ap-
praised price unless authorization is given in writing by Party of the
first Part. Acquisition fees may be billed by Party of the Second Part
at the end of any calendar month for those properties where options
have been turned over to Party of the First Part . Said bills will be
in accordance with schedules, as set out in this contract , and based
on the appraised price irrespective of that amount of money paid for a
parcel of land.
CITY OF LITTLE ROCK, k&KANSns CONNLR, BALDWIN & F. RRIS
A Partnership
By
Werner C. Knoop, Mayor
Attest
Pauline G. Beason , City Clerk
SECTION 2. This resolution shall be in full force and
effect from and after its adoption.
ADOPTED: June 1, 1959
ATTEST: / APPROVED:
`"C -
Ag7'
City Clerk Ma