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RESOLUTION NO. 8.739
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
EXECUTE AN AGREE2ENT WITH UNION PACIFIC
RAILROAD COMPANY TO SETTLE DISPUTED CLAIMS
CONCERNING THE RECONSTRUCTION OF THE SECOND
STREET OVERPASS, AND FOR OTHER PURPOSES.
WHEREAS, the bridge on East Second Street in Little Rock
where it crosses the railroad tracks is in a bad state of repair
and in need of immediate structural improvement; and
WHEREAS, the City and Union Pacific Railroad Company have
disputed claims as to the responsibility for maintenance and
reconstruction of the bridge; and
WHEREAS, the railroad has tendered to the City the amount
of $154,301.40 as full settlement and satisfaction of any
obligations of the railroad to repair, maintain or reconstruct
the overpass pursuant to Little Rock, Ark. Ordinance No. 754
(January 26, 1899) (OLRO°); and
WHEREAS, the tendered amount is a fair and reasonable
settlement of the disputed claims.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF
THE CITY OF LITTLE ROCK, ARKANSAS AS FOLLOWS:
Section 1. That the City Manager is hereby authorized to
execute a mutual settlement agreement and release of all rights,
duties, claims, obligations and damages arising from LRO No. 754
in return for the payment by the railroad to the City in the
amount of $154,301.40.
ADOPTED: July 7, 1992
ROBBIE ,: CK
CLERK CITY
APPROVED AS TO FORM:
THOMAS M7
ATTORNEY CITY
• + d•
RON PRIEST MAYOR -
428,,'.
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P21
• Exit to Resolution 18,739
MUTUAL SETTLEMENT AGREEMENT AND RELEASE 4 2 S
KNOW ALL MEN BY THESE PRESENTS:
For the sole consideration of ONE HUNDRED FIFTY FOUR
THOUSAND THREE HUNDRED ONE DOLLARS AND FORTY CENTS ($154.301.40)
paid by UNION PACIFIC RAILROAD COMPANY and MISSOURI PACIFIC
RAILROAD COMPANY, the receipt and sufficiency of which is hereby
acknowledged by the CITY OF LITTLE ROCK, ARKANSAS, and in
consideration of the approval, adoption and enactment of the
proposed ordinance attached hereto as Exhibit "A" by the Little
Rock Board of Directors, THE CITY OF LITTLE ROCK, ARKANSAS,
UNION PACIFIC RAILROAD COMPANY, and MISSOURI PACIFIC RAILROAD
COMPANY do hereby mutually release and forever discharge each
other, their agents, servants, representatives, employees,
affiliates, successors and assigns, and all other persons, firms
or corporations, whether named herein or not, of and from any
and all claims, demands, damages, causes of action, or suits at
law or in equity, of whatever kind or nature, for or because of
any matter or thing done, omitted, or suffered to be done by the
said parties herein released, arising out of any legal
contractual or other duty or obligation of the parties herein
released to repair, maintain, remove, replace, construct, or
destruct the structure referred to in Section 5 of Little Rock,
Ark. Ordinance No. 754 (January 26, 1899) as the "substantial
iron bridge at the crossing of Second and McLean Streets."
The parties herein released warrant that no representation
as to liability and no agreement or promise has been made by
either party or anyone on their behalf to induce this
compromise, and the sum paid is solely by way of compromise of
disputed claims and it is, therefore, specifically agreed that
this release shall be a complete bar to all claims or suits for
injury or damage of whatsoever nature resulting and that this
release contains the entire agreement between the parties with
the terms hereof being contractual and not a mere recital.
THE
By:
APPROVED:
T����o Carpenter., i e oc
City Attorney
UNION PACIFIC RAILROAD COMPANY and
MISSOURI PACIFIC RAILROAD COMPANY
By:
WITNESSED AND APPROVED:
David Wilson, Attorney or
Union Pacific Railroad Company
and Missouri Pacific Railroad Company