3762 •
t
RESOLUTION NO. 3,762
A RESOLUTION AUTHORIZING THE CITY MANAGER
TO EXECUTE FOR AND ON BEHALF OF THE CITY
AN "OFFER TO SELL REALTY" PERTAINING TO
CERTAIN PROPERTY OivNED BY THE CITY OF
LITTLE ROCK AND TO BE CONVEYED TO THE
ARKANSAS REVENUE DEPARTMENT BUILDING
COMMISSION; AND FOR OTHER PURPOSES .
NOGG, THEREFORE, BE IT RESOLVED BY THE BOARD OF
DIRECTORS OF THE CITY OF LITTLE ROCK, ARKANSAS .
SECTION 1. The City Manager is hereby authorized
and directed to execute for and on behalf of the City of
Little Rock an "Offer to Sell Realty`'' in favor of the
Arkansas Revenue Department Building Commission for the
sale at a purchase price of Two Hundred and Ten Thousand
Dollars ($210,000.00) of certain City owned property
described as Lots 1, 2, 3 and 4 Block 23 and Lots 7, 8
and part of 9 Block 26, Capital Hill Extension Addition
to the City of Little Rock, Arkansas. The said '`Offer to
Sell Realty" is in form and substance as follows :
OFFER TO SELL REALTY
For and in consideration of the sum of One Dollar ($1.00) and
other valuable consideration in hand paid, the receipt of which is
hereby acknowledged, the undersigned (hereinafter called the s
and
ele
being the owner of the following described property, hereby offers
agrees to sell and convey to the Arkansas Revenue Department Building
Commission, or its assignee, the following property located in Little
Rock, Pulaski County, State of Arkansas, to wit:
A-1-1) Lots 1, 2, 3 and 4, Block 23 and Lets 7, 8 and
A-5-1)s part of Lot 9, Block 26, Capitol Hill Extension
A-6-1) Addition to the City of Little Rock, Arkansas
($210.000)
The total purchase price shall be Two Hundred Ten Thousand/Dollars.
Expenses of examination of title and of preparation and recording the
deed shall be paid by the purchaser, but the seller shall bear cost of
all revenue stamps required for said deed. Payment of the purchase price
shall be made upon transfer of title. Taxes and assessments shall be
pro-rated as of time of closing.
Upon closing, seller shall convey title by general warranty deed
together with all improvements belonging to said property and said
conveyance shall be free and clear of all liens, easements and encum-
brances of any kind.
Acceptance of this offer shall be contingent upon the seller having
a good and marketable fee-simple title to the property. As soon as
possible after being notified of the Commission's acceptance of this offer
seller agrees to furnish the Commission, at his own expenses, an up-to-
date abstract of title of subject property prepared by a reputable
abstract company. At any time prior to closing, purchaser may require the
seller to clear any defects in the title and seller shall have at least
thirty days (30) after notice of said defects in which to complete the •
curative work.
Notwithstanding the prior acceptance of this offer, the purchaser
in lieu of completing the purchase of said premises may, at any time
prior to closing, proceed to acquire the same by condemnation. The
seller agrees, as an independent stipulation which shall survive the
expiration or termination of this offer, to such condemnation upon the
payment of just compensation, which shall be the purchase price above
stated, which price the seller hereby declares to be the fair market
value of said premises, inclusive of every interest therein.
Loss or damage to the property by fire or casualty shall be the risk
of the seller until the title has been conveyed to the purchaser.
This offer shall remain in effect through June 21 1967 and in
the event it is not exercised by that time, the same shall automatically
terminate without further act of either of the parties.
Dated this day of ,19 •
ACKNOWLEDGMENT
STATE OF ARKANSAS)
) SS
COUNTY OF PULASKI)
BE IT REMEMBERED, That on this day came before me, the undersigned
Notary Public within and for the County pad State aforesaid, duly
commissioned and acting , to me well known as the
grantor in the foregoing instrument, and stated that she has executed
the same for the consideration and purpose therein mentioned and set forth.
Witness my hand and seal this day of 19+,.
Notary Public
My Commission Expiress
ACCEPTED*
Arkansas Revenue Department Building Commission
By
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SECTION 2. This Resolution shall be in full
force and effect from and after its passage.
ADOPTED: May 1, 1967
ATTEST APPROVED: I_ ) e / '
City Cler e Mayor