5492 RESOLUTION NO 5,492
A RESOLUTION AUTHORIZING THE EXECUTION OF A
CONTRACT TO SELL CERTAIN LANDS LOCATED IN
THE LITTLE ROCK PORT INDUSTRIAL PARK TO THE
ARKANSAS HIGHWAY DEPARTMENT FOR RIGHT OF WAY
PURPOSES OF THE EAST BELT FREEWAY; AND FOR
OTHER PURPOSES
BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF
LITTLE ROCK, ARKANSAS.
SECTION 1. The Mayor and City Clerk, acting for and on
behalf of the City of Little Rock, are hereby authorized to
execute a Contract To Sell for certain lands situated in the
Little Rock Port Industrial Park to the Arkansas Highway De-
partment to be used for right-of-way purposes of the East
Belt Freeway. Those lands are described as follows:
A. All of Lots 14, 15, 16, 17 , 18, 19 , 20 , 21, 22
and 23 , Block H, Factoria Addition to the City
of Little Rock, Arkansas lying South of the
South Right of Way Line of the Little Rock Port
Authority Railroad containing 35 , 511 square feet,
more or less. . Purchase Price $3 ,200 .00
B. All of Lot 12 , Block G, Factoria Addition to the
City of Little Rock, Arkansas , lying North of
the North right of way line of Little Rock Port
Authority Railroad containing 5 ,250 square feet,
more or less . . Purchase Price 50 . 00
SECTION 2 . The Contracts to Sell the above identified
properties are attached to this Resolution as Exhibits "A"
and "B" respectively and same are hereby approved and accepted
by the Board of Directors of the City of Little Rock and the
Mayor is hereby authorized and directed to execute for and on
behalf of the City of Little Rock a Warranty Deed conveying said
property to the Arkansas Highway Department and the City Clerk
is hereby authorized and directed to attest said Deed and to
deliver same to the Arkansas Highway Department upon full payment
of the purchase prices set out in Section 1 hereof.
SECTION 3 . This Resolution shall be in full force and
effect from and after its adoption.
ADOPTED: February 17, 1976
ATTEST: APPROVED: `
City Clerk Mayo
Exhibit "A"
R/;: S-1-65
J03 NAME East Belt Freeway TRACT 131-A
JOB 60027
FAPs
CERT. 153
FAP f1 MM-011-1( 3)
CONTRACT TO SELL
Little Rock City Hall
Grantor City of Little Rock, Arkansas Address Little Rock, Arkansas
Mr. Cnarles ulctnam - Real Estate Officer
Grantee: ARKANSAS STATE HIGHWAY COMMISSION
IN CONSIDERATION of the benefits that will inure to the Grantor(a) and/or to the public
the undersigned, hereby give and grant to the Arkansas State Highway Commission, an agency
of the State of Arkansas, upon the terms and conditions hereinafter stated, the "Contract
to Sell", including the right to purchase the following described real estate, save and
except the oil and gas only therein and thereunder, situated in the County of
State of Arkansas, to wit:
LEGAL DESCRIPTION
All of Lots 14, 15, 16, 17, 18, 19, 20, 21, 2? and 23 , Block H, Factoria
Addition to the City of Little Rock, Arkansas, lying South of the South
Right of Way Line of the Little Rock Port Authority Railroad containing
35, 511 square feet, more or less.
I
I
PREAUDITED AND ACCEPTED
1 Prop. Mgr. to Ner.t.
PAYMENT DUE $ '2OO-QQ
(Appraised value offered by the Commission for real estate, including damages, if any,
to the remainder: to bq paid after approval of title and execution of a deed as
hereinafter provided. )
The Commission shall have the irrevocable right to exercise the "Contract to Sell"
at any time within ninety (90) days from date: and it is agreed that if within the time
above specified, the said Commission shall declare its intention to exercise this
"Contract to Sell", including the right to purchase the said land, the Grantor(s) will
execute and sign a Warranty Deed when presented by the Commission and receive payment
of the stated "Payment Due: from the said Commission, less any amount that may be found
due and payable to any mortgagee. It is expressly understood that the said Commission
shall not be obligated further unless stated herein to wit:
It is understood and agreed that closing costs will not accrue to the Grantor(s)
as the Grantee' s Attorney will prepare the necessary documents for closing and the
Grantee will pay the cost of recording all instruments conveying title to the Arkansas
State Highway Commission.
Grantor(s) further agree neither to sell nor encumber the said real estate during
the term of this "Contract to Sell".
The Commission shall have the right to enter upon and take possession of the
said property upon the execution and acceptance of this Contract to Sell, but entry
• upon said premises for the purpose of inspection or survey or any slight or inadvertent
entry without material damage or injury to the realty or without the exercise of dominion
thereover to the exculsion of the undersigned, shall not be .construed as a final election
to close this contract. No statement, expressions of opinion or representations of any
nature whatsoever, not herein expressly stated, made by any representative or agent of
0 the State Highway Department shall be binding on, or of any effect against, the State or
the Arkansas State Highway Commission.
All claims for damage, injury, or loss on account of failure to close this "Contract
to Sell" are, hereby, expressly waived.
The Arkansas State Highway Commission is hereby authorized and directed to make
payment of the purchase funds for the conveyance to
Dated this day of , 197
(SEAL) (SEAL)
(SEAL) (SEAL)
2N I
,
A C K N O W L E D G M E N T
STATE OF )
) SS
I COUNTY OF )
BE IT RDI ;EKED, that on this day came before the undersigned, a
Notary Public, within and for the County Aforesaid, duly commissioned
4 and acting.
to me well known as the Grantor in
the foregoing Instrument and stated that had executed the same
for the consideration and purposes therein mentioned and set forth.
WITNESS my hand and seal as such Notary Public on this day
of , 197
NOTARY PUBLIC
MY COMMISSION EXPIRES:
4
• Exhibit " B"
R/W 8-1-65
JOB NAME East Belt Freeway TRACT
JOB
FAP:
CERT.
CONTRACT TO SELL
Little hock City Hall
Grantor City of Little hock, _.rkari o ; Address Little Rock, Arkansas, •
Grantee: ARKANSAS STATE HIGHWAY COMMISSION
IN CONSIDERATION of the benefits that will inure to the Grantor(s) and/or to the public
the undersigned, hereby give and grant to the Arkansas State Highway Commission, an agency
of the State of Arkansas, upon the terms and conditions hereinafter stated, the "Contract
to Sell", including the right to purchase the following described real estate, save and
except the oil and gas only therein and thereunder, situated in the County of
T , n1 , State of Arkansas, to wit:
LEGAL DESCRIPTION
All of Lot 12, Block G, Factoria Addition to the City of Little Rock, Arkansas,
lying North of the North right of way line of Little Rock Port Authority
road containing '250 square feet, more or less.
PREAUDITED AND ACCEPTED
1 Prop. Mgr. to Negot.
By: Date 12/bk
PAYMENT DUE
$ cC).nil
(Appraised value offered by the Commission for real estate, including damages, if any,
to the remainder: to bq paid after approval of title and execution of a deed as
hereinafter provided.)
The Commission shall have the irrevocable right to exercise the "Contract to Sell"
at any time within ninety (90) days from date: and it is agreed that if within the time
above specified, the said Commission shall declare its intention to exercise this
"Contract to Sell", including the right to purchase the said land, the Grantor(s) will
execute and sign a Warranty Deed when presented by the Commission and receive payment
of the stated "Payment Due: from the said Commission, less any amount that may be found
due and payable to any mortgagee. It is expressly understood that the said Commission
shall not be obligated further unless stated herein to wit:
It is understood and agreed that closing costs will not accrue to the Grantor(s)
as the Grantee' s Attorney will prepare the necessary documents for closing and the
Grantee will pay the cost of recording all instruments conveying title to the Arkansas
State Highway Commission.
Grantor(s) further agree neither to sell nor encumber the said real estate during
the term of this "Contract to Sell".
The Commission shall have the right to enter upon and take possession of the
said property upon the execution and acceptance of this Contract to Sell, but entry
• upon said premises for the purpose of inspection or survey or any slight or inadvertent
entry without material damage or injury to the realty or without the exercise of dominion
thereover to the exculsion of the undersigned, shall not be ,construed as a final election
to close this contract. No statement, expressions of opinion or representations of any
nature whatsoever, not herein expressly stated, made by any representative or agent of
the State Highway Department shall be binding on, or of any effect against, the State or
the Arkansas State Highway Commission.
All claims for damage, injury, or loss on account of failure to close this "Contract
to Sell" are, hereby, expressly waived.
The Arkansas State Highway Commission is hereby authorized and directed to make
payment of the purchase funds for the conveyance to
•
Dated this day of , 197
(SEAL) (SEAL)
(SEAL) (SEAL)
2NI
A C K N O W L E D G M E N T
STATE OF )
) SS
COUNTY OF )
BE IT RN N sERED, that on this day came before the undersigned, a
Notary Public, within and for the County Aforesaid, duly commissioned
and acting.
to me well known as the Grantor in
the foregoing Instrument and stated that had executed the same
for the consideration and purposes therein mentioned and set forth.
WITNESS my hand and seal as such Notary Public on this day
of , 197
NOTARY PUBLIC
MY COMMISSION EXPIRES: