1875RESOLUTION NO.
1875
A RESOLUTION TO AUTHORIZE THE MAYOR AND THE CITY
CLERK TO EXECUTE A SPECIAL WARRANTY DEED AND OTHER
NECESSARY INSTRUMENTS OF CONVEYANCE REGARDING
LANGSTON COMPANIES, INC., AND FOR OTHER PURPOSES.
WHEREAS, Arkansas statutes require a written resolution of the City Council
authorizing the Mayor and the City Clerk to execute deeds for the conveyance of real property;
and
WHEREAS, Langston Companies, Inc., and the City of West Memphis, Arkansas,
entered into a Lease Agreement dated the 1st day of December, 1991, in connection with an
Industrial Development Revenue Bond issue in the principal amount of $1,600,000 as authorized
by Ordinance 1499 of the City of West Memphis; and
WHEREAS, Langston Companies, Inc., has notified the City of West Memphis of its
intention to exercise its option to purchase the Leased Premises as provided in Section 1602 of
the Lease Agreement; and
WHEREAS, the bonds have been redeemed in full and there are no outstanding bonds;
and
,,, WHEREAS, upon payment of the purchase price as set out in Section 1602(c) of the
Lease Agreement the City of West Memphis, as Lessor, is to deliver to the Lessee a special
warranty deed, bills of sale, and other appropriate conveyance instruments transferring good and
merchantable title to the Leased Premises free and clear of all liens and encumbrances except
those to which title was subject when leased, Permitted Encumbrances under the Lease
Agreement, or resulting from any failure of the Lessee to perform any of its obligations under the
Lease Agreement;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF WEST MEMPHIS, ARKANSAS, THAT upon payment of the purchase price as set
out in Section 1602(c) of the Lease Agreement, the Mayor and the City Clerk are authorized to
execute on behalf of the City of West Memphis a special warranty deed, bills of sale, and other
appropriate conveyance instruments transferring to Langston Companies, Inc., good and
merchantable title to the Leased Premises free and clear of all liens and encumbrances except
those as provided in Section 1602 of the Lease Agreement.
ADOPTED this Z 1 day of ~U ~ ~ , 20 07 .
WILLIAM H. JOH ON, MAYOR
ATTEST:
PHILLIP ,CITY CLERK
SPONSORED BY:
RECEIVED
City Clerk's Office
Date/Time ono ~ ~0 ?
SPECIAL WARRANTY DEED
KNOW ALL MEN BY THESE PRESENTS:
That the City of West Memphis, Arkansas, a municipal corporation organized under and by
virtue of the laws of the State of Arkansas, (hereinafter referred to as "Grantor") by its Mayor and
City Clerk, duly authorized by Ordinance 1499 of the West Memphis City Council and in
accordance with the Lease Agreement dated December 1, 1991, between the City of West Memphis,
Arkansas and Langston Companies, Inc., (hereinafter referred to as "Grantee"), and in consideration
of the termination of the Lease Term of such Lease Agreement, the full payment of all Bonds
described and referred to in the Lease Agreement and in the Trust Indenture dated December 1,
1991, between the City of West Memphis, Arkansas, as Issuer, and First National Bank of Lawrence
County, a national banking association with its principal office in Walnut Ridge, Arkansas, as
Trustee, compliance by the Grantee with all terms and conditions of the Lease Agreement, the
agreement between the Grantor and the Grantee that the said Lease Agreement is hereby terminated
and the sum of One Hundred Dollars ($100.00) paid by Grantee, and other good and valuable
consideration the receipt and sufficiency of which are hereby acknowledged, does hereby grant,
bargain, sell and convey unto the Grantee, its successors and assigns forever, the following
described land situated in the County of Crittenden, State of Arkansas:
A 2.19 acre tract of land lying in the NW '/ of Section 7, T-6-N, R-9-E, City
of West Memphis, Crittenden County, Arkansas, and being more particularly
described as follows:
Commencing at the NE corner of the NW '/ of said Section 7; thence West
along the North line of said Section 7 a distance of 40.00 feet to the West right-of-
This instrument prepared by: David C. Peeples, West Memphis City Attorney,
P. O. Box 1728, West Memphis, AR 72303
way line of 7th Street; thence South 0° 47' E along the West right-of--way of 7th Street
a distance of 1055.00 feet tp the point of beginning; thence N 89° 44' 32" W a
distance of 300.00 feet to a point; said point being the extension of the East building
line of the original Langston Bag building; thence S 0° 12' 02" W along the said East
building line a distance of 343.53 feet to a point lying along the North right-of--way
line of Glen Bailey Drive; thence N 79° 22' E a distance of 128.79 feet; thence along
a curve to the right with a radius of 984.93 feet and an arc length of 143.40 feet;
thence N 50° 49' S3" E a distance of 46.42 feet to a point lying along the West right-
of-way of 7`h Street; thence N 0° 4T W a distance of 273.00 feet to the point of
beginning, containing 2.19 acres, more or less.
The above-described property being the same property as set out and
described in Exhibit "B" to the Lease Agreement.
TO HAVE AND TO HOLD the same unto the Grantee and unto its successors and assigns
forever, with all tenements, appurtenances and hereditaments thereunto belonging, subject to the
following: (i) those liens and encumbrances, if any, to which title to said property was subject on
the date of the Lease Agreement; (ii) Permitted Encumbrances, if any, under the Lease Agreement,
or resulting from any failure of Grantee to perform any of its obligations as Lessee under the Lease
Agreement.
The City of West Memphis, Arkansas, hereby covenants with the Grantee that it will forever
warrant and defend the title to said lands against all claims and encumbrances done or suffered by or
through it, but against none other.
IN WITNESS WHEREOF, the name of the Grantor is hereunto affixed by its Mayor and
its seal affixed by its City Clerk this ~_ day of , 2007.
CITY OF WEST MEMPHIS, ARKANSAS, Grantor
B.
ATTEST: WILLIAM H. JOHNSON, MAYOR
PH PARR, CITY CLERK
-2-
This instrument prepared by:
David C. Peeples
West Memphis City Attorney
P. O. Box 1728
West Memphis, AR 72303
TITLE NOT EXAMINED AND NO OPINION
GIVEN AS TO STATUS OF SAME.
ACKNOWLEDGMENT
STATE OF ARKANSAS
COUNTY OF CRITTENDEN
On this a t day of , 2007, before me, the undersigned Notary Public,
personally appeared William H. Johnson, Mayor, and Phillip Para, City Clerk, of the City of West
Memphis, Arkansas, a municipal corporation, known to me or satisfactorily proven to be the
persons described in the foregoing instrument, and acknowledged that they executed the same in the
capacity therein stated and for the purposes therein contained.
~~,tt ~_:'~ ESS WHEREOF, I hereunto set my hand and official seal.
~~~ ~ ~r't'~ C
.'~j ~L1C NOTARY P LIC
.,.~~~,
SIGN EXPIRES:
ao~ ~
Amount of Tax: ~ EXEMPT (A.C.A. 26-60-102(1))
I certify under penalty of false swearing that at least the legally correct amount of
documentary stamps have been placed on this instrument.
GRANTEE OR AGENT
-3-
. ~,
FIRST 19 7 2 9.1
BANK
I.ANGSTON TENNESSEE
'"' GREENEVILLE, TENNESSEE 3]]43
~ COMPANIES INC. 8~.434,~42 197291
1760 5. THIRD
P.O. BOX 60
MEMPHIS, TENNESSEE 38101-0060
PHONE (901) 774-4440
***One Hundred & No/"100 Dollars
DATE AMOUNT
~TO THE 05/04/07 $100.00
CITY OF WEST MEMPHIS
ORDER OF:
BOX 1728
nr
WEST MEMPHIS, AR 72303 ___-.___..__._._ /~fi ~_.___ __..-. ___---_-----...---__--.---...__.
~~~xL. T R
.. tip
AUTHORIZED SIGN RE
11'L97293111' ~:064 204 34 7~: 1114 ?065L5611'
LANGSTON COMPANIES INC.
197291
VENDOR No.: 02661 NAME: CITY OF WEST MEMPHIS 197291
®~ ~ ~
041507 04/15/07 100.00 0.00 0.00 100.00
(Acct: 1000-001) Check Date 05/04/07 Total
100.00
v
CITY OF WEST MEMPHIS
CITY CLERK'S OFFICE
205 South Redding - P.O. Box 1728 -West Memphis, Arkansas 72303 - (870)732-7510 -Fax (870)732-7650
email: cgreenwood(~citywm.com
June 28, 2007
Bill Eddings
Tax Assessor
Crittenden County
Courthous
Marion, AR 72364
Dear Bill,
Langston Bag Companies, Inc. entered into a Lease Agreement with the City of
West Memphis dated the 1st day of December, 1991 in connection with an
Industrial Development Revenue Bond issue in the principal amount of
$1,600,00 as authorized by Ordinance 1499 and has notified the City of West
Memphis of its intention to exercise its option to purchase the leases
premises as provided in Section 1602 of the Lease Agreement.
This letter is let you know that the bonds have been redeemed in full and the
City of West Memphis has authorized the Mayor and City Clerk to execute a
Special Warranty Deed and other necessary instruments of conveyance regarding
Langston Companies, Inc. I have attached a copy of Resolution 1875 for your
records.
If you have any questions, of if I may be of further assistance, please let
me know.
Sincerely,
Cindy Gre wood, CMC
Senior D ty City Clerk
Encl.