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Home My WebLink About2022-09-05-R RESOLUTION # a l /< A RESOLUTION AUTHORIZING THE PURCHASE OF THE FOOD TRUCK LOT LOCATED AT 201 S. CENTRAL AVENUE. WHEREAS, the City of Batesville desires to expand economic, entertainment, and culinary opportunities within the City; and WHEREAS, the Food Truck Lot located on Central Avenue is available for purchase;and WHEREAS, the City wishes to further develop said property with a pavilion,green space, splash pad, and food truck lot. NOW,THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF BATESVILLE,ARKANSAS SECTION 1: That the City of Batesville hereby authorizes the purchase of 201 S. Central, Batesville,Arkansas for the purchase price of$150,000.00, more or less to from Vida Enterprises, per the real estate purchase agreement which is attached hereto and incorporated herein by reference. PASSED AND APPROVED this! day of September, 2022. V Rick Elumbaug ,Mayor ATTEST: Denise Johnston, City Cler CONTRACT FOR THE SALE OF REAL PROPERTY This Contract of Sale ('Agreement") is made by and between Vida Enterprises, LLC,an Arkansas, LLC ("Seller") and the City of Batesville, Arkansas, 500 Main Street, Batesville, Arkansas ("Purchaser") WITNESSETH: In consideration of the mutual promises herein contained, the Seller agrees to sell, and the Purchaser Agrees to buy, in accordance with the terms and conditions of this Agreement, the following real property in Independence County,Arkansas: See Exhibit A (hereinafter referred to as the"Property") 1. PURCHASE PRICE. The Purchase Price for the Property is $150,000,00, payable at closing. 2. TITLE AND CONVEYANCE. Seller is to convey title to Purchaser by Warranty Deed. Title shall be good and marketable, subject only to: (a)covenants,conditions,easements,agreements,and restrictions of record; (b) public, private utility easements and roads and right-of ways; (c) applicable zoning ordinances, protective covenants and prior mineral reservations; and (d) real estate taxes for the year 2022,water charges and/or sewer rents, if any, subject to apportionment. 3. CONDITION OF PROPERTY. The Property is being sold as is. Purchaser certifies that Purchaser has personally inspected or will personally inspect, or has had or will have a representative inspect, the Property as fully as Purchaser desires and is not relying upon any warranties, representations or statements of the Seller regarding the Property, whether or not an existing defect may be reasonably discoverable by Purchaser. 4. CLOSING. The parties agree that the closing shall be at such time as mutually agreed by the parties.The parties intend for closing to be within 90 days from the execution of this Agreement. At closing, Seller shall deliver to Purchaser a Warranty Deed, executed in proper form for recording, and sufficient to convey title to the Property in accordance with this Agreement. 5. CONTINGENCIES. This Agreement shall not be binding on Purchaser unless and until it is approved by resolution by the Batesville City Council. For purposes of timing of closing, the timeframe laid in Paragraph 4 of this Contract, the 90 days shall not start until it has been approved by the City Council and the sale of the Police Department has occurred, whichever is later. 6. REAL ESTATE TAXES AND CLOSING COSTS. Any taxes and specials assessments due on or before closing shall be paid by Seller. Real Estate taxes shall be appointed as of midnight of the day preceding the date of closing.Seller and Purchaser shall split ordinary closing costs. Seller will bear the cost of an owner's title insurance policy. 7. NO BROKER OR AGENTS. The parties represent that neither party has employed the services of a real estate agent or broker in connection with the Property,or that if such an agent has been employed,the party employing the agent will pay any and all expenses outside the closing of this Agreement. 8. REPRESENTATIONS. Seiler represents that as of the date of closing there will be no liens, assessments or security interest which will not be satisfied out of the sale proceeds. Seller represents that the Property may legally be used as zoned and that no government agency has served any notice to seller requiring repairs, alterations, or corrections of any existing condition. Seller represents that: (a) the Property is not the subject of any judicial or administration notice or action relating to hazardous waste or environmental contamination; (b) Seller has received no notice of any claim or violation of any law or regulation having to do with environmental protection; (c)no hazardous or toxic substances have been stored,processed, or disposed of on the property during the period that Seller has owned the Property; and (d) no underground storage tanks are located on the Property. 9. AGREEMENT OF PARTIES. This Agreement shall contain the entire understanding and agreement between Seller and Purchaser with respect to all matters referred to herein and shall supersede all prior or contemporaneous agreements, representations, discussions and understandings, oral or written,with respect to such matters. 10. MISCELLANEOUS. This Agreement may not be altered, amended, changed, waived, or modified in any way unless the same shall be in writing signed by Seller and Purchaser. This Contract may be executed in duplicate with seller(s) retaining one true counterpart hereof and Buyer retaining the other true counterpart hereof. Duly executed photocopies or facsimiles bearing all signatures of Seller and Buyer shall have the same force and effect as an original. This Agreement shall be governed by laws of the state of Arkansas. The prevailing party in any legal proceeding brought under or with respect to the transaction described in this Agreement is entitled to recover from the non-prevailing party all costs of such proceeding and reasonable attorney's fees. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and permitted assigns. Time is of the essence in the performance of this Agreement. IN WITNESS WHEREOF, Seller and Purchaser have duly executed this Agreement this-4—day of_Q_�2022. PURCHASER City of Batesville By: Rick Elumbaugh Mayor of Batesville,Arkansas SELLER Vida Enterprises, LLC By: Shai ndra ingh Co-Owner of Vida Enterprises, LLC By: Jyoti Chaudhary Co-Owner of Vida Enterp ses, LLC Tract is A part ofBlock 33 of ftner's Addition to the City of Batesville,Arkansas,described as followst Beginning at the Sondtwest owner of"M Block 9s at the intersection of Boswell and Spring Street(Now Central Avenae)l Theme North 54 degrees Seat u4 feet along the line of Boswell Street;Thence at right angles toward South Street(Now Cotlege Avenue)58 feet and 5 inches;Thence South 54 degrees West parallel with Boswoll Street u4 feet to Spring Street(Now Central Avenue);Thence Southeast 58 feet and 5 Inches along8pring Street(Now Central Avenue)to Place of Beginning. Being part of Lots g and io in said Block 3b. Tract 2: A part of Block S&Bgner's Addition to the City of Batesville,Arkansas,described by metes and bounds thus: Regivaing at thevorner of the A.R.Weaver property on Spring Street which beginning corner is North 36 degrew West 58 feet and 5 inches from the corner of said Block at the intersection of Spring and Boswell Stmetol Wenee North 54 degrees East at right angles from Spring Street and parallel with Boswell Street xt4 feet to Alley;Thence along the line of said Alley in the direction of South Street and parallel with Spring Street 55 feet and 4 Inches to corner;Thence South 54 degrees West parallel with South Stfest 114 feet to Spring Street;Thence South 36 degrees East along the line of Spring Street 55 feet and 4 inches to the Place of Beginning. Tract 3: All that trail or p uvd of land lying and being In Lot 1 and parts of Lots 2,9 and io,in Block 35 in Egner's Addition io Batoeville,Independence County,Arkansas,and being more particularly described as follows: at ' Imn pin set at the intersection of the Northeastern right of way line of Central Avenue( Iq as Spring Street and having a 40-foot tight of way width)and the Southeastern right of way Bien of'as6 ege Avenue(having a 4o-foot right of way width)run North 54 degrees 23 minutes o6 seconds taut alo right of way line a distance of 124.00 feet to an iron pin set;thence leaving said 9oudern tight of way line of College Avenue,run South 35 degrees o5 minutes 56 seconds East a distance of 06."feet to an iron pin not;thence South 35 degrees 05 minutes 56 seconds East a distance of ix3.7g feet to an Iron pin set on the Northwestern right of way line of Boswell Street(having a 60 foot riglit of way width);ri}u thence along said Northwestern right of way line of Boswell Street South 54 degrees aS sa#smte o6 seconds West a distance of io.00 feet to an iron pin set;thence leaving said Northweetwu tight of way line of Boswell Street;run North 35 degrees o5 minutes 56 seconds West a distanee,of"8.75 feet to an iron pin set;thence South 54 degrees 23 minutes o6 seconds West a distance of u4.00 feet to so Iron pin set on the Northeastern right of way line of Central Avenue;thence along said rWa of way line North 35 degrees o5 minutes 56 seconds West a distance of i66.25 feet to an iron pin set on the Southeptern right of way line of College Avenue,said iron pin set being the point of BEd lU above4eaeribed property contains o.556 acres, more or lees,and is more particularly shown on,ad de*MW according to,that certain Survey for Coca-Cola Bottling Company of Arkansas and Chiew Title hwiranee Company prepared by Carpenter Surveying,P.A. (David L.Carpenter, Arkansas,Profewtonal Surveyor No.846);dated July 13,ig89,which Survey is incorporated herein and by this reference made a part hereof. i