HomeMy WebLinkAbout2502 RESOLUTION NO. 2502
A RESOLUTION AUTHORIZING AND DIRECTING THE MAYOR AND CITY
CLERK TO ENTER INTO AND EXECUTE AN ACQUISITION CONTRACT
WITH WILLIAM B . PUTNAM FOR THE PURPOSE
OF ACQUIRING SUCH PROPERTY ALONG BOTH SIDES OF UNIVERSITY
AVENUE AS MAY BE NECESSARY FOR RIGHT-OF-WAY PURPOSES; AND
FOR OTHER PURPOSES .
WHEREAS , the City of Little Rock is desirous of acquiring
certain property along both sides of University Avenue as may be
necessary for right-of-way purposes; and
WHEREAS, the City desires to employ WILLIAM B . PUTNAM
to act as their representative in the acquisition of such property;
and
WHEREAS , the Board of Directors of the City of Little Rock
desires that the Mayor and City Clerk enter into and execute an
Acquisition Contract with the said William B . Putnam
for said work to be performed;
NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
CITY OF LITTLE ROCK, ARKANSAS :
SECTION 1. The Mayor and City Clerk are hereby authorized
and directed to enter into and execute an Acquisition Contract
with William B. Putnam for the acquisition of
certain property along both sides of University Avenue as may be
necessary for right-of-way purposes, which Acquisition Contract
shall be in form and words as follows :
'ACQUISITION CONTRACT
This contract made and entered into this day of
, 1960, by and between the CITY OF LITTLE ROCK, ARKANSAS,
acting through its Mayor and City Clerk, pursuant to provisions of
Resolution No. , hereinafter referred to as "Party of the
First Part' , and William B. Putnam , hereinafter
referred to as ''Party of the Second Part" ,
WITNESSETH:
-2-
Party of the Second Part agrees that his fee per parcel for
acquiring the property located adjacent to both sides of University
Avenue as may be necessary for right-of-way purposes, will be based
on the following schedule:
5%, from $1.00 to $500.00
2 1/2%, from $501.00 to $10,000.00
2%, from $10,001.00 to $50,000.00
1 1/2%, from $50,001.00 to $200,000.00
1%, from $200,001.00 up .
A "Parcel of Land" shall be defined as one contiguous piece of
land under one ownership. A parcel of land will be considered acquired
when Party of the Second Part turns over a signed option to the Party
of the First Part.
Party of the Second Part agrees to acquire the property, as
outlined in this contract, within sixty ( 60) days from date of this
contract, or prepare such remaining parcels that have not been
acquired for court action and request that said remaining parcels be
condemned.
It is mutually agreed between Party of the First Part and Party
of the Second Part that the fees to be paid, under the schedule set
out in this contract, shall be based on the appraised price and in
no event shall the fees be based on a cost that exceeds the appraised
price.
Party of the Second Part agrees to make any and all court
appearances where called upon to do so, but in such event Party of the
First Part agrees to pay percentages, as outlined in this contract.
Said percentages are not to be based upon the awards as handed down
by the courts, but are to be based upon the appraised price. Condemna-
tion suits shall, be filed by the attorneys for the Party of the First
Part, who shall also bear all expense of litigation.
Party of the Second Part agrees not to acquire the property ap-
praised unless authorized by Party of the First Part, and in no event
-3-
shall a price be paid for any given parcel of land more than the ap-
praised price unless authorization is given in writing by Party of the
First Part. Acquisition fees may be billed by Party of the Second Part
at the end of any calendar month for those properties where options
have been turned over to Party of the First Part . Said bills will be
in accordance with schedules, as set out in this contract , and based
on the appraised price irrespective of that amount of money paid for a
parcel of land.
CITY OF LITTLE ROCK, ARKANSAS
BY
Werner C. Knoop , Mayor WILLIAM B. PUTNAM
ATTEST
Pauline G. Beeson ,City Clerk"
SECTION 2. This resolution shall be in full force and effect
from and after its adoption.
ADOPTED: March 7, 1960
ATTEST: APPROVED:
G�Jd W
f1(11
City Clerk May