RES NO 02-08-2013 CITY OF VAN BUREN, ARKANSAS
RESOLUTION NO. U 2013
BE IT ENACTED BY THE CITY COUNCIL, FOR THE CITY OF VAN BUREN,
ARKANSAS, A RESOLUTION TO BE ENTITLED:
A RESOLUTION AUTHORIZING THE MAYOR TO PURCHASE
CERTAIN REAL PROPERTIES NECESSARY FOR THE
CONSTRUCTION OF A NEW VETERANS PARK, AND FOR
OTHER PURPOSES.
WHEREAS, the City has determined that it desires to acquire, for the public good and benefit,
certain real property located within the Van Buren city limits, to construct a new
Veterans Park; and
WHEREAS, upon the City's best, information, knowledge, and belief the appraised value and the fair
market value of said property is as listed below. The City, and through its designated
agents, has offered in good faith to purchase said property for the amount listed below
plus the City's share of closing costs.
Property Address Legal Description Appraised Value Purchase Price
815 Main Street Part of Lots I through 6 of Block $125,000.00 $125,000.00
6, Drennen Addition to Van Buren,
Crawford, Arkansas.
900 Block Main Street Lots 7 -10 Part Lots 26 -34, $166,938.00 $166,938.00
(915 Main) Block 6, Drennen Subdivision, ($3.45/SF-
Van Buren, Crawford County, 48387.70 Total SF)
Arkansas.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
VAN BUREN, ARKANSAS, THAT:
SECTION 1: The City Council hereby authorizes the Mayor to purchase the afore described real
property for the amount listed above plus the estimated closing costs as listed in Exhibit
"A" utilizing Veterans Park and Park Bond Funds.
SECTION 2: The City Council hereby authorizes the Mayor to purchase the afore described real
property for the amount listed above plus the estimated closing costs as listed in Exhibit
"13" utilizing Park Bond Funds.
SECTION 3: The Mayor is authorized and directed to execute such documents and instruments as may
be necessary to proceed with and finalize the purchase of said property, and the City
Clerk is hereby authorized and directed to attest same.
IN WITNESS WHEREOF, the City of Van Buren nsas, by its City Council, did pass,
approve, and adopt, by a vote of 5 for and 0 against, the fore;oing Resolution at its r gular meeting
held on the 25 of February 2013.
4 1 0------, Robert D. reeman
i),yor
AT.STED: PPI� '�g O FORM:
os... w w7
Barbie Curtis Ca c.r....A<Se
City Clerk/Treasurer City Attorney
lb wry cell Real Eslule Company
1)
1031 Fuyellev111eRena Van ntiien AR 72956: f-(
601, 1 74.9200
IFAtr0l,'"
DATE /.Z TIME:
TYPE LOAM: e, .S
SALES PRICE $_23– 00W11 PAYMENT OAN c–
RATE-
0 TERM
PREPAID EXPENSES:
Yentcs
First Yeal's Monte Owner's Insurance 'remium
S.
PHI or HIP Insurance Reserve
I7o
Hazard insurance Reserve
Mo r c
Ad Valorem Tax Reserve
[,[p
r laxllm Prepaid Interest
Da
TOTAL PREPAID EXPENSES
CLOSING COSTS:
Origination Fee
C de
Appraisal
Credit Report f Dom
Recording y
J Fees: Deed htocL
Assign i.gn �O
Flood Certificate
IJOCt Preparation
Title Insurance: Loan
Owner S
Discount or Warehouse Pee
V A Funding Fee or Underwriting Fee
Q
Revenue; SLamps_
rios.ing' Fee
a ado.
so
Ga.—
'COl'AL F•:i'1'LI9 A'IILD CLOSING COSTS
001)11 PAYN ha'I'1' y
EST IMATED nMD(1I•I'I' DUE AT CLOS:I
We (1) understand that the al,ove costs are the approximate expenses to De
incurred in cionnection with tho loan for which we (1) arg (am) applying.
Ne (1) are (alit) aware that other unforeseeable charges may be incurred. Also,
that this statement Lakes into account Chose costs customarily charged to the
arch a s er, end does not never: sa rily reflect- those iiidiitred by,
our Y
.untracttlai obligations with the sellers. We
(in)
)sLImatea Closing cosL disclosure does NOT constitute a loan commitmen1t. this
t0I- ITIILY PAYMCH'I' P;ST'IMAa'li
n:incipal a nd!Iwterest 4
RECEIPT HEREBY ACKNOWLEDGE 'I'Illi
lone Owner's Insurance C
IiCGI O
1lc IL THIS ESTIMATED
di Valorem '1'a$ CLOSING COST DISCLOSURE.
lortr ac e
J J Insu.rJa nce
:S'L'It -IATED hIOli'IfI I LY PAYhtEM'1'
Buyer Estirriofed Closing Costs
Jil nniy hell Real Eslale Company ((Olt
1031 Foyelleville Rood. Von Buren, AR 72956
DATE: .3 'T iIMr: 1�� X_ TYPE LOAN:
PURCHASERS: C,7� n� �[f
pooru :ivi'Y ADDRESS: 9 /5 „&g,,,,, Sit f /,�/L 1. f- gysL
SALES RI
PCli o
/17 -DOIVN PAYNEIi'L' LOAN
DEPOSIT RATE TERM YEnll
PRE EXPENSES:
First Y 's Motor Owner's Insurance Premium 9
PHI or NIP 111sur1 Reserve No .l
llaiaard Jilsicance Reserve Mo L 0
Ad Valorem Tax Reserve Mo A
Maxi. mum PietJaid 'est Da U 9 C
TOTAI PREP :XPEIISES
o1i Fee (x) 9
Appraisal S 06
iurdey S /V
t. Recording Fees: Deed [tort. Assign $_ZO
Flood Cei :Li.LicaLe -e-
Document: Preparatl.on 7s_
T 7
d'iLle Innocence!' Loan Owner 3 ?SO-
DiscoiuL or lacel:ouse Fee-
V' A' Funding (tee or Underwriting Fee r9-
12evetiue Stamps
CI cis Llry Wee 'eo
DSO.
T/ /e' S 67r is s ::a
�S
e0
TOTAL' ES't•-LFUI'1'r0 CLOSIIIG COSTS s 9y 5
00011 PAY FIEI IT' ej
ESTIMATED AMOUNT DUE AT CLOSING 1(8 933.
ALL O`T// suiX /.S Po
lie (1.) uOdei. that' Cite above co s Ls ace the approxiiiiate expenses to be..
.Incur :red in connection with the. loan Car which we (:1:)- arse (am). applying:
Ile (I) are (am) a are that other tln Cot °seeable charges: idly he inLO) red; A 1 so,
that this slateiilent takes Into account those costs custouiarii.y' charged to'lhe
purchaser' ancl. does not necessarily. reCiect: those iilcurrect. by our (my)
contractual 'obligations: with the sellers. We' (:I:)' understand :llal: I:liii;
estimated closing cost disclosure does NOT constitute a loan coiimiitnleilli.
IIONT'IIL.Y PAYNli I1T 131 (MATE WE IIE:RRLIY 101:11001.1 LJG1 THE
principal and Interest RECEIVE' Or '1'11LS P:^..'J•1CIA'I' 0.1
Iloine Owner's Insurance Ci g51DIG cost' D[SCI.00LJItl?-
Ad V alorem 'L'ax
Ito, Lgage ,[nsui: ante
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