Loading...
HomeMy WebLinkAbout2024-01-04-R RESOLUTION#_ 00),Y jr D7"/� A RESOLUTION AUTHORIZING THE PURCHASE OF REAL PROPERTY ALONG MILLER CREEK WHEREAS, that the City of Batesville«yishes to expand recreational opportunities for the health and wellbeing of its residents, as well as residents of Independence Count};and WHEREAS, that in order to meet this goal, the Croy is planning to Construct the Batesville Heritage Nature Trail;and WHEREAS, that said trail would require the purchase of a tract of land of 84.25 acres, more or less,along Miller.Creek and the Missouri Pacific Railroad owned by PDGH, LLC; and WHEREAS, that First Communin,Bank has generously pledged to donate S20,000 per year to the Cin•of Batesville for the nest five}ears to go toward the purchase price of said property,,with said donation totaling$100,000. NOW,THEREFORE BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF BATESVILLE,ARKANSAS SECTION 1:That the Cite of Batesville hereby authorizes the purchase of real property from PDGH,LLC, for the purchase price of$525,000, more or less,per the real estate purchase agreement which is attached hereto and incorporated herein by reference. Said real estate purchase agreement contains a legal description of said property. PASSED AND APPROVED this daty of January,2024. Rick Elumbaugh Mayor City of Batesville Denise Johnston City Clerk City of Batesville REAL ESTATE OFFER AND ACCEPTANCE CONTRACT Dated OFFER The undersigned buyer, the City of Batesville, Arkansas (herein after "buyer"), hereby makes an offer to purchase from seller, (herein after "sellers"), real property in Independence County, State of Arkansas, including all improvements thereon, and commonly known and described as follows: See Legal Description Attached hereto. together with the personal property described below in Paragraph 13, if any. COVENANTS FIRST: The buyer herewith makes payments to the seller in the following amounts: $ 0 by earnest money deposit; $ 525,000 at the close of escrow; SECOND: That the buyer will take title to the above-described property as Fee Simple owner. THIRD: It is hereby agreed that in the event said purchaser fails to pay the balance of said purchase price, or otherwise fails to complete said purchase as herein provided, the seller(s) may either demand specific performance of this contract in the manner provided by law, or cancel this contract in the manner provided by law. FOURTH: Title to the premises shall be conveyed by Warranty Deed, subject to the conditions of this contract, and seller shall furnish buyer, at buyer's expense built into the purchase price, a Standard Owner's Title Insurance Policy showing good and marketable title. All other closing costs shall be borne by the buyer. FIFTH: The buyer and seller agree that if the title to the above property be defective, seller or his agent, will be given 120 days from the date of this contract to perfect the same. If said title cannot be perfected within said time limit, this contract shall be cancelled. Purchaser may, however, elect to accept title to said premises subject to any defects'which are not so cured. SIXTH: It is understood and agreed that said property has been inspected by the buyer or the buyer's duly authorized agent: that the same is, and is being purchased by the buyer as the result of said inspection and not upon any representation made by the seller, or any selling agent,,or any agent for the seller, and the buyer hereby expressly waives any and all claims for damages occasioned by any representation made by any person whomsoever other than as contained in this agreement, and the seller or his agent shall not be responsible or liable for any inducement, promise, representation, agreement, condition or stipulation not specifically set forth herein. EIGHTH: This contract shall become binding only when executed by the purchaser and by the seller, and shall be in force and effect from that date of such execution. NINTH: Time is declared to be the essence of this contract. TENTH: The seller agrees to deliver, or cause to be delivered to Escrow Agent,.all instruments necessary and required to carry out and complete the terms of this contract. ELEVENTH: The proration of Taxes, Insurance, Rents, Assessments, etc. shall be at the close of Escrow, unless otherwise agreed upon as follows: TWELFTH: Closing of Escrow shall be on or before March 1, 2024 subject to any extensions set forth in the Escrow Instructions and the cancellation provisions thereof, with possession of the premises to be delivered to buyer on or before March 1, 2024. THIRTEENTH: The following personal property is included with the premises: None. FOURTEENTH: The seller acceptance of this contract must be made on or before February 1, 2024, otherwise the buyer's offer is withdrawn and voided, unless the buyer agrees in writing to extend such acceptance date. FIFTEENTH: This agreement and subsequent sale is conditioned upon the issuance of bonds (Series 2024B Bonds) related to the refitnding and capital improvement of Batesville Parks passed by the voters of the city in November of 2023. Said sale cannot occur until said bonds are issued. FIFTEENTH: This contract shall become binding only when executed by the buyer and by the seller, and shall be in force and effect from that date of such execution. That sellers' execution hereof is subject to the approval of the Batesville City Council and shall not be binding until the date of passage by said Council. IN WITNESS WHEREOF, the buyer executes this Contractual Offer to purchase the above-described property on the terms and conditions herein stated, and acknowledges receipt of a copy of this contract and the attached addendum,-if any. Ric lumbaugh r Cit sville 500 E:Main St. Batesville, AR 72501 ACCEPTANCE The undersigned seller, PDGH, LLC accepts the offer of the above-named buyer to purchase the premises herein described and agrees to sell the same to said buyer upon the aforesaid terms and conditions. Paul H. Willmuth Manager for PDGH, LLC / TRACT II: All that part of the NW1/4 of the SW1/4 of Section 10, and the North Half of the SE1/4 of Section 9,which lies North of Missouri-Pacific Railroad right of way and South of Miller Creek; also all that part of the NE1/4 of the SW1/4 of Section 9, which lies North of said Railroad right of way, South of Miller Creek and East of County Road; also all that part of the SE1/4 of the NE1/4 of Section 9, which lies South of Miller Creek; all in Township 13, North, Range 6 West, and containing in the aggregate 85 acres, more or less: LESS AND EXCEPT: Part of the Northeast Quarter of the Southwest Quarter of Section 9, Township 13 North, Range 6 West, Independence County, Arkansas, more particularly described as follows: Commencing at a point being used as the Center South Sixteenth corner of Section 9, thence North 88 degrees 42'26"West along the South line of the Northeast Quarter of the Southwest Quarter of Section 9, a distance of 82.32 to a point on the Easterly right of way line of US Highway 167 as established by AHTD Job 5585; thence North 20 degrees 55'46"West along said right of way line a distance of 121.27 feet to a point; thence North 10 degrees 11'04"West along said right of way line a distance of 218.15 feet to the point of beginning; thence continuing North 10 degrees 11'04"West along said right of way line a distance of 85.99 feet to a point; thence North 19 degrees 38'49"West along said right of way line a distance of 400.00 feet to a point; thence North 29 degrees 03'49"West along said right of way line a distance of 65.57 feet to a point; thence North 00 degree 1.4'12" East a distance of 86.30 feet more or less to a point on the Easterly right of way line of U.S. Highway 167 as established by AHTD Jab 050159; thence South 24 degrees 25'32" East along said right of way line a distance of 47.92 feet more or less to a point; thence South 25 degrees 23'09" East along said right of way line a 1 distance of 100.50 feet to a point; thence South 19 degrees 40'31" East along said right of way line a distance of 200.,00 feet to a point; thence South 48 degrees 29' 10"East along said right of way line a J distance of 114.13 feet to a point; thence South 19 degrees 40'31" East along said right of way line.a distance of 100.00 feet to a point; thence South 11 degrees 08'4W East along said right of way line a distance of 101.12 feet to a point; thence South 02 degrees 0710" West along said right of way line a distance of 24.43 feet to a point on the Northerly Railroad right of way line of the Burlington Northern Railroad; thence in a Northwesterly direction along said Railroad right of way line on a curve to the left having a radius of 1,046.45 feet a distance of 87.56 feet having a chord bearing of North 82 degrees 38'10"West a distance of 87.54 feet to the point of beginning and containing 0.79 acres or 34,277 square feet, more or less as shown on plans,prepared by the AHTD referenced as Job 050159 TRACT IiI: , A tract of land being part of the SE1/4 of the NW1/4 and part of the NE1/4 r of the SW1/4 of Section 9 in Township 13 North, Range 6 West of the 5`h Principal Meridian in Independence County, Arkansas more particularly described as follows: Commencing at the Southeast Corner of said SE1/4 NW1/4, as located per the right-of=way survey plat of Arkansas Highway and Transportation Department Job No. 5585; thence run South 85 degrees 57 minutes West along the South Line of said SE1/4, NW1/4, a distance of 382.17 feet to the Centerline of the Old Polk Bayou Road; thence run North 04 degrees 04 minutes West along said Centerline, a distance of 47.27 feet to the Point of Beginning; thence run South 04 degrees 04 minutes East along said Centerline, a distance of 321.27 feet; thence run South 04 degrees 34 minutes East along said Centerline, a distance of 110.35 feet to the North Bank of Miller's Creek; thence run South 78 degrees 06 minutes 33 seconds West along said North Bank, a distance of 65.32 feet to the Easterly Right-of-Way as follows: North 34 degrees 35 minutes West, 106.74 feet; North 24 degrees 02 minutes West, 378.30 feet; North 01 degrees 32 minutes West, 375.50 feet; North 21 degrees 29 minutes East, 271.90 feet to the intersection of said Easterly Right-of-Way line with the Centerline of the Old Polk Bayou Road; thence run South 14 degrees 19-minutes East along said Centerline, a.distance of 637.60 feet to the Point of Beginning. Containing 3:89 acres, more or less. LESS AND EXCEPT: Part of the Northeast Quarter of the Southwest Quarter and part of the Southeast Quarter of the Northwest Quarter, all in Section 9, Township 13 North, Range 6 West, Independence County, Arkansas more particularly described as follows: Commencing at a point being used as the center corner of Section 9; thence North 88 degree 34'51"West along the South line of the Southeast Quarter of the Northwest Quarter of Section 9 a distance of 522.39 feet to a point on the Easterly right of way line of U.S. Highway 167 as established by AHTD Job 050159 to the point of beginning; thence South 10 degrees 20'53"East along said right of way line a distance of 112.09 feet to a point; thence South 21 degreesl0'23" East along said right of way line a distance of 258.79 feet to a point; thence South 24 degrees 37'18" East along said right of way line a distance of 34.40 feet more or less to a point on the North Bank of Miller Creek; thence South 64 degrees 53'37"West along said North Bank a distance of 45.68 feet more or less to a point on the Easterly right of way line of U.S. Highway 167 as established by AHTD Job 5585; thence North 29 degrees 03'49"West along said right of way line a distance of 102.11 feet mare or less to a point; thence North 19 degrees 08'08"West along said right of way line a distance of 333.19 feet to a point; thence North 18 degrees 37'34"West along said right of way line a distance of 60.01 feet to a point; thence North 03 degrees 53'59"East along said right of way line a distance of 369.48 feet to a point; thence North 26 degrees 40'24" East along said right of way line a distance of 301.18 feet to a point; thence South 04 degrees 10'40"East a distance of 34.07 feet to a point on the Easterly right of way line of U.S. Highway 167 as established by AHTD Job 050159; thence South 20 degrees 3412" West along said right of way line a distance of 50.62 to a point; thence South 10 degrees 05'57"West along said right of way line a 8.1c1; 2010 Page '1027 Nc-d 09#2'l 2040 12:57'19 FI9 distance of 85.80 feet to a point, thence South 10 degrees 55'3.6" West along said right of way line a distance of 186.00 feet to a point; thence South 07 degrees 0277"West along said right of way line a distance of 185.43 feet to a point;.thence South 03 degrees 57'32" East along said right of way line a distance of 92.88 feet to a point; thence South 10 degrees 20'53"East along said right of way line a distance of 72.44 feet to the point.of beginning and containing 1.52 acres or 66,124 square feet,.more or less as shown on plans prepared by AHTO referenced.as Job 050159.