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ARKANSAS DEPARTMENT OF TRANSPORTATION <br /> , ARDOT.gov I IDriveArkansas.com I Lorie H.Tudor, RE., Director <br /> KANSAS DEPARTMENT 10324 Interstate 30 1 P.O.Box2261 I Little Rock,AR72203-2261 <br /> CA70F TRANSPORTATION Phone:501.569.2000 1 Voice/TTY711 I Fax:501569.2400 <br /> 11/21/2023 <br /> [date <br /> City of Batesville <br /> 500 E.Main Street#100, <br /> Batesville, AR 72501 <br /> Job 050420 <br /> Hwy. 394 <br /> Moorefield (S)Hwy. 69 <br /> Independence County <br /> Tract 16 <br /> Dear Property Owner(s): <br /> An acquisition agent for the Arkansas State Highway Commission has presented to you a <br /> Contract to Sell offering to purchase the fee simple title to your property needed for highway <br /> purposes. A description of the property needed is attached. The acquisition agent will contact <br /> you within 10 business days for your response that should include all issues or concerns you may <br /> have regarding the offer. It is anticipated that negotiations should be concluded within 30 <br /> calendar days from the date of the initial contact. <br /> The offer of$1,875.00 is based on the opinion of a qualified real estate appraiser. The offered <br /> amount is based on the market value concept and is broken down as follows: $1,875.00 as just <br /> compensation for the realty to be acquired. <br /> Should you elect to accept this offer, the State will determine if you can convey a merchantable <br /> title, and if so, a property deed conveying the land to the Arkansas State Highway Commission <br /> will be prepared and you will be paid the amount contained in the written offer. <br /> If you make a final rejection of this offer, and if the Arkansas State Highway Commission elects <br /> to do so, a condemnation suit will be filed, and the amount that the Arkansas State Highway <br /> Commission has determined to be estimated just compensation for your property will be <br /> deposited into the Registry of the Circuit Court of Independence County. You may at this time <br /> elect to accept the amount deposited as just compensation for your property. If you elect to do so, <br /> the Circuit Court will be asked to enter Judgment in the sum of the estimated just compensation, <br /> and this amount will be paid to you thereby disposing of the condemnation suit. <br />