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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