4763 RESOLUTION NO. 4,763
A RESOLUTION ACCEPTING AN OFFER MADE BY
MANFRED CALL TO BUY A TRACT OF LAND IN
THE LITTLE ROCK PORT INDUSTRIAL PARK
DISTRICT AT THE PRICE OF TWENTY-FIVE
(25 ) CENTS PER SQUARE FOOT AND THE TOTAL
SUM OF $19 , 819. 80 ; AUTHORIZING THE MAYOR
AND CITY CLERK TO EXECUTE A WARRANTY DEED
IN FAVOR OF MANFRED CALL UPON PAYMENT OF
THE TOTAL AMOUNT OF PURCHASE PRICE; AND
FOR OTHER PURPOSES
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY
OF LITTLE ROCK, ARKANSAS.
SECTION 1. Manfred Call has submitted to the Little Rock Port
Authority an offer to purchase a tract of land in the Little Rock Port
Industrial Park District described as :
Tract "D" , Area 201 , containing 1. 82 acres
more or less.
Which offer has been accepted by the Little Rock Port Authority subject
to the approval of the Board of Directors of the City of Little Rock,
Arkansas. A tract of land under consideration is more particularly
described as follows :
A parcel of land located in the NE4, SEq
of Section 17 , Township 1 North, Range 11
West, Pulaski County, Arkansas , more partic-
ularly described as follows:
Commencing at the Southeast corner of Section
17 , Township 1 North, Range 11 West, Pulaski
County , Arkansas; thence North 10 33 ' 49" East,
929 . 80 feet along the East line of Section 17
to a point; thence North 89° 47 ' 08" West 242 . 14
feet to a point; thence North 0° 12 ' 52" East
956 . 13 feet to a point on the North right-of-way
line of Lindsey Road, also known as Federal Aid
Secondary Route 1484 ; thence North 89° 47 ' 08"
West 60 . 33 feet along said North right-of-way
line to the point of beginning; thence North
0° 12 ' 52" East 397 . 21 feet to a point on the
South right-of-way line of the Little Rock
Port Railroad Spur; thence South 89° 49 ' 08"
East 200 . 00 feet along the South right-of-way
line of the Little Rock Port Railroad Spur to
a point; thence South 0° 12 ' 52" West 397 . 33
feet to a point on the North right-of-way line
of Lindsey Road; thence North 89° 47 ' 08" West
200 . 00 feet along the North right-of-way line
of Lindsey Road to the point of beginning.
Parcel contains 1. 82 acres , more or less .
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. ,.
SECTION 2 . The offer to purchase , set out in an Offer and Accept-
ance dated March 2 , 1972 , attached to this Resolution and incorporated
therein by reference , is hereby approved and accepted by the Board of
Directors of the City of Little Rock, Arkansas , and the Mayor is hereby
authorized and directed to execute for and on behalf of the City of
Little Rock a Warranty Deed, subject to record restrictions and ease-
ments, if any, conveying said property to Manfred Call. The City Clerk
is hereby authorized and directed to attest said Deed and to deliver same
to Manfred Call upon full payment of the sum of $19 , 819. 80 .
SECTION 3 . This Resolution shall be in full force and effect from
and after its adoption.
ADOPTED: March 21, 1972
ATTEST: (1;Lt APPROVED:
City Cler a
I
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OFFER AND ACCEPTANCE
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To /,.2//7/S ,9/1/0 (i)/•! , Agent.
1. The undersigned, herein called the Buye4, offers to buy, subject to the terms set forth herein, the following property:
(If additional space is needed, use back side.)
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2. The Buyer will pay $ _®b , Oo for the property, $ /�fi r 8 U in cash and the
balance of $ as follows: € .�property,
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3. Special conditions: • - %t - ../_-' 1 /. i i _.c10 '
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4. Conveyance shall be made to Buyer, or as directed by Buyer, by general warranty deed except it shall be subject to
recorded restrictions and easements, if any.
5. The owner of the above property, hereinafter called Seller, shall furnish at Seller's cost a complete abstract reflecting
merchantable title satisfactory to Buyer's attorney, however Seller shall have an option to furnish Buyer, in place of abstract,
a policy of title insurance, and submission of an abstract shall not constitute a waiver of this option. Seller shall have a reason-
able time after acceptance within which to furnish abstract or title insurance. If objections are made to title, Seller shall have
a reasonable time to meet the objections or to furnish title insurance.
6. Buyer herewith tenders $ � ��' �'�'' as earnest money, to become part of purchase price upon
acceptance. This sum shall be held by Agent and if offer is not accepted or if title requirements are not fulfilled, it shall be
promptly returned to Buyer. If, after acceptance, Buyer fails to fulfill his obligations, the earnest money may become liquidated
damages,which fact shall not preclude Seller or Agent from asserting other legal rights which they may have because of such breach.
7. Taxes and special assessments, due on or before the closing date shall be paid by the Seller. Current general taxes and
special assessments shall be pro-rated as of closing date based upon the last tax statement. Insurance, interest and rental payments
shall be pro-rated as of closing date. /��/�'/
8. Seller shall vacate the property and deliver possession too,Buyer on or before �`7i e- 11) days after the closing
date. Seller agrees to pay rent to Buyer at the rate of $ /` e',€ _ per day until possession is given after closing date.
9. Buyer certifies that he has inspected the property and he is not relying upon any warranties, representations or state-
ments of the Agent or Seller as to age or physical condition of improvements. The risk of loss or damage to the property by
fire or other casualty occurring up to the time of transfer of title on the closing date is assumed by Seller.
10.This Offer is binding upon Buyer if accepted within— days fro ii Date.
gent 41of
J' _ ��/
'By — _ Kra ! - / !m-
- Buye
The above Offer is acc kt�ed on , 19 . I/We agree to pay the above named
Agent a fee of /Ca for professional services rendered in securing said Offer. If for any reason the earnest
money provided for herein is forfeited by Buyer under the provisions hereof, same shall be divided equally between Seller and
Agent after payment to Agent of his incurred expenses.
Seller
Form 61—Ark.Real Estate Association, Little Rock
Seller