3668 RESOLUTION NO. 3,668
A RESOLUTION ACKNOWLEDGING RECEIPT OF AN OPTION
FOR AN EASEMENT FOR RAILROAD RIGHT-OF-WAY TO
SERVE THE INDUSTRIAL PARK AND RELATED TERMINAL
FACILITIES; AUTHORIZING THE PAYMENT OF $100.001
AS CONSIDERATION FOR SAID OPTION AND FOR OTHER
PURPOSES.
WHEREAS, the owners of certain property situated in
Sections 17 and 18, Township 1, North Range 11, West Pulaski
County, Arkansas have offered the Port Authority and the City of
Little Rock an option to purchase easement for Railroad right-of-
way upon, over and across said lands for a consideration of $100.00;
and,
WHEREAS, the Port Authority has by Resolution duly
passed, recommended that the City of Little Rock accept the
"option to purchase easement" for the stated purposes and pay the
sum of $100.00 as consideration for said option.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS
OF THE CITY OF LITTLE ROCK, ARKANSAS.
SECTION 1. The option to purchase easement tendered to
the City of Little Rock and the Port Authority for Railroad right-
of-way to serve the industrial development and relating Port terminal
facilities of the City of Little Rock, which easement is situated
in Section 17 and 18, Township 1, North Range 11 West, Pulaski
County, Arkansas, is hereby accepted. Said option to purchase
easement is in form and substance as follows:
OPTION TO PURCHASE EASEMENT
KNOW ALL MEN BY THESE PRESENTS :
That the undersigned , for and in consideration of the
sum of One Hundred and No/100 Dollars ($100. 00) and other
good and sufficient consideration , cash in hand paid , the
receipt of which is hereby acknowledged , hereby grant to the
City of Little Rock (hereinafter called "City") , and to its
successors and assigns , an option to purchase for the sum of
One Hundred and No/100 Dollars ($100.00) , and other consid-
eration herein set out , a permanent easement and right-of-way
for the following purposes , namely : The right to enter on
the hereinafter described land and do any and all work neces-
sary to construct , operate , and maintain a railway , including
the right to clear said right-of-way and keep the same clear
of all brush, timber, and other obstructions ; the right to
grade said right-of-way and make the necessary fills and cuts
therefor , and the right to lay the necessary crossties and
rails for one or more railway tracks. Said easement and
right-of-way will affect the land now owned by the undersigned
shown on the attached plat (marked Exhibit A) , located in
Sections 17 and 18 , Township 1 North, Range 11 West , Pulaski
County , Arkansas . The permanent easement shall consist of
a right-of-way of not to exceed seventy (70) feet in width at
any point , as required for railway purposes , and shall be
located substantially as shown on the attached plat on the
lands shown thereon which are now owned by the undersigned.
The term, "permanent easement ," as used herein means an
easement existing so long as City , its successors and assigns ,
shall actually maintain, use and operate a railroad along the
easement , and the conveyance shall provide that if a railroad
is not actually constructed along the easement within five
(5) years from the date of the conveyance , or if , thereafter ,
the railroad is abandoned for a period as long as one year ,
the easement shall automatically terminate.
It is understood that the easement and conveyance thereof
by the undersigned will necessarily be subject to any right ,
interests and easements which may be now outstanding in
others (such as Texas Eastern Transmission pipeline and tele-
phone right-of-way , for example) , and that any curative work
on or acquisition of such rights , interests or easements , if
any , shall be done or consummated by the City at its expense.
This option shall continue in force for a period of
twelve (12) months from the date hereof , and at any time
within said period , City shall have the right to exercise
said option by giving the undersigned written notice of its
determination so to do. The City may enter on the land of
the undersigned for the purpose of making additional surveys
without being deemed to have exercised this option .
If City shall elect to exercise this option , the under-
signed agree that at such time as City may name , within the
time limit hereof , they will execute and deliver to City a
properly executed instrument of conveyance whereby the above
described easement and right-of-way are conveyed to City , free
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of encumbrances ; and the undersigned understand and hereby
agree that the purchase price above stated will be paid to
them on the delivery of such instrument of conveyance. It
is further understood and agreed by the undersigned that the
payment of such purchase price is in full compensation to them
for the conveyance of such easement and right-of-way , and for
all damages incidental to the exercise of any of the rights
above described , except day-ages to growing crops , and that
any excess in value of the easement over the purchase price
shall be an irrevocable , completed gift by the undersigned
to the City.
Grantors reserve for themselves , their heirs , executors ,
administrators , and assigns , the right to cross the herein
described easement with roadways and with pipelines , wires ,
conduits and any other structures , either overhead , underground
or on the surface , as may be convenient for the purposes of
Grantors , provided that such right is not exercised to inter-
fere with the operation of the railroad .
As a further consideration to them, the undersigned
hereby reserve for themselves , their heirs , executors , admin-
istrators and assigns the right at their awn separate cost
and expense , to connect , (without charge by the City , its
successors or assigns) , any spur or sidetracks that may be
laid on land now owned by them, (or in which they own interests) ,
adjacent to the premises hereby conveyed , with any railroad
track or tracks that may hereafter he constructed or operated
on the premises hereby conveyed subject to the following condi-
tions :
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1. No spur or sidetrack will be constructed by the
undersigned that will allow anyone outside the boundary of
the property now awned by the undersigned to use the said
spur or sidetrack without permission of the City .
2. Any sidetrack or spur constructed will meet all
governmental requirements and other recognized safety regula-
tions.
3. Any applicable reservation , restriction , or condition
relating to construction and operation imposed by any rail
carrier with whom the City may contract regarding the subject
tract , spur or siding.
When and if the option is exercised , the undersigned
will furnish for the City ' s inspection , an abstract , title
insurance policy or commitment or other satisfactory evidence
reflecting good and merchantable title , subject only to any
now existing rights , interests or easements outstanding in
others. The abstract will be returned to the undersigned .
Any expense of bringing abstracts up to date will be borne
by the City. The undersigned will not permit any additional
easements to arise during the period of existence of this
option which would interfere with City ' s easement.
If the City or any other governmental authority acquires
a portion of the 350 acres , approximately , of land in which
the undersigned now own interests , adjacent to the proposed
easement , and if the undersigned acquire additional lands
adjacent to the contemplated railroad , the rights above pro-
vided to connect spurs and sidetracks free of charge shall
apply to such portion of said other lands as shall be equal
in area to the portion of said 350 acres acquired by the
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City or other governmental authority.
J. D. Walthour, Trustee , J. D. Walthour , individually ,
and Hattie Walthour , his wife , join herein for the purpose
of binding themselves , their successors in interest , and
assigns that they will execute and deliver a recordable re-
lease of any liens held by them on the property over which
an easement shall be conveyed pursuant hereto, (at the time
of conveyance of the easement described herein) .
IN WITNESS WHEREOF , the undersigned , the owners of the
land above described , have hereunto subscribed their names
1.,
on this the ,5 day of A(ti L4L ,__ , 1966 , as have J. D.
Walthour , Trustee , J. D. Walthour , individually , and Hattie
Walthour , his wife , for the limited purpose of releasing
liens as above provided.
,f P-a r, ti tC
P att C. Remmel
Luc z 6 o �_
Catherine C. Remmel
FIXED ASSETS LEASING CORPORATION
By : 1 0 .,,;4 X. L/�-„t.-►i,-x=-I
ATTEST: -��, Roland R. Remmel, President,- ,._,,..;_.77 7,1--,
Vi is McCartney , Secreta ARKANSAS RIVER CONSTRUCTION COMPANY,
INC.
-- By : /4 ( •Cc .
/ Pratt C. Remmel, P esident
A ST :
i ,' ,(L c,l,7 \_ -,1)1_0,..
Paul M. Zander , SeEretary J. D. Walthour , 3'rustee
A. D. Walthour, Individually
Ill aw/l .e .... .A
Hattie Walthour
FIRST NATIONAL BANK, Trustee
Under Agreement, W. H . Satterfield ,
Dated March 23 , 1966
By : /4z,
James H. Rice , J . , Vice
A TTE N. President and Trust Officer
Ass stant Trost Officer
STATE OF ARKANSAS)
) ss. ACKNOWLEDGZ€NT
COUNTY OF PULASKI)
On this the 1.,-1-=4,- day of November , 1966 , before me , a
Notary Public , personally appeared Roland R. Remmel and Vir-
ginia McCartney , to me known to be the persons described in
and who executed the foregoing instrument as president and
secretary , respectively , of Fixed Assets Leasing Corporation,
a corporation , and severally acknowledged before me that they
executed the same as such officers , in the name of and on
behalf of the said corporation.
IN WITNESS WHEREOF, I hereunto set my hand and official
seal .
i /. fa A 474,--,6
Notary Public
My commission expires :
STATE OF ARKANSAS)
) ss . ACKNOWLEDGMENT
COUNTY OF PULASKI) �,
On this the p?,5 //
day of d2..c,c,2,-1- 4.,/ , 1966 , before
me a Notary Public , personally appeared Pratt C. Remmel and
Paul M. Zander, to me known to be the persons described in
and who executed the foregoing instrument as president and
secretary , respectively , of Arkansas River Construction Com-
pany , Inc. , a corporation , and severally acknowledged before
me that they executed the same as such officers , in the name
of and on behalf of the said corporation.
:N iW_TNESS WHEREOF , I hereunto sst my hand and official
sea .
•
Aid
start' Public
My commission expires :
)-?-7 /Y
.
STATE OF ARKANSAS)
) SS . ACKNOWLEDGMENT
COUNTY OF PULASKI)
C
On this the ,15 day of ;7) , 1966 , before
me , a Notary Public , personally appeared James H. Rice , Jr. and
Robert F. Merrit, to me known to be the persons described in
and who executed the foregoing instrument as Vice President and
Assistant Trust Officer , respectively , of the First National
Bank, a corporation , and severally acknowledged before me that
they executed the same as such officers , in the name of and on
behalf of the said corporation .
IN WITNESS WHEREOF I have hereunto set my hand and official
seal.
Notary Public
Y., contnission expires :
STATE OF ARKANSAS)
) SS.
COUNTY OF PULASKI) ACKNOWLEDGMENT
On this the 075:1/-\ '�day of )2,4 u /-Z, 1966 , before me ,
a Notary Public, personally appeared Pratt C. Remmel and Catherine
C. Remmel, husband and wife , known to me to be the persons whose
names are subscribed to the foregoing instrument and acknowledged
that they had executed same for the purposes therein contained.
And Catherine C. Remmel, to me personally known as wife of
Pratt C. Remmel, further acknowledged that she executed such
iostrument without compulsion or undue influence of her husband.
•
lotary Public
My commission expires :
(z., 177o
•
STATE OF ARKANSAS )
) SS. ACKNOWLEDGMENT
COUNTY OF PULASKI )
On this the 025"/ day of 22a6,,,a--?-rile4/12 , 1966,
before me , a Notary Public , personally appeared J. D. Walthour,
Trustee , and individually and Nettie Walthour , known to me to
be the persons whose names are subscribed to the foregoing in-
strument and acknowledged that they had executed same for the
purposes therein contained.
WITNESS my hand and seal.
21: )2/2
Nvtublic
My commission expires :
-h17 1, /77o
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SECTION 2. This Resolution shall not be construed
as authority to exercise said "option to purchase" said right-
of-way but merely the payment of the consideration for said option.
SECTION 3. The City Manager and Director of Finance
are hereby authorized and directed to pay to the Grantors set forth
in said option the sum of $100.00 as consideration, therefore.
SECTION 4. This Resolution shall ba in full force and
effect from and after its adoption.
ADOPTED: December 5, 1966
/4 -
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ATTEST P APPROVED:
City Clerk Assistant Mayor
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