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1542 RESOLUTION NO. ~stla A RESOLUTION APPROVING A SETTLEMENT IN THE CASE OF ARKANSAS STATE HIGHWAY COMMISSION VS. CITY OF WEST MEMPHIS AND LYNDONVILLE SAVINGS BANK AND TRUST COMPANY AND FOR OTHER PURPOSES. WHEREAS, the Arkansas State Highway Commission has filed a condemnation action in the Circuit Court of Crittenden County, Arkansas, styled Arkansas State Highway Commission vs. City of West Memphis and Lyndonville Savings Bank and Trust Company, Case No. CIV-94- 190, seeking to acquire approximately 0.41 acres and a temporary construction easement of 0.10 acres, all located adjacent to Arkansas State Highway 77 (Missouri Street) at Worthington Park; and WHEREAS, the property sought to be acquired by the Arkansas State Highway Commission is subject to certain deed restrictions as reflected in Warranty Deed 2652 filed for record in Book 167, Page 129, in the Office of the Crittenden County Circuit Court Clerk and Recorder; and WHEREAS, Lyndonville Savings Bank and Trust Company has agreed to waive the deed restrictions; and WHEREAS, the Arkansas State Highway Commission has agreed to pay to the City of West Memphis the sum of Five Hundred and No/100 ($500.00) as compensation for its interest in the property to be acquired; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF WEST MEMPHIS, ARKANSAS, THAT the settlement of the action filed by the Arkansas State Highway Commission as set out in the attached Consent Judgment is hereby approved and the City Attorney is hereby authorized to execute the Consent Judgment on behalf of the City of West Memphis. ADOPTED this 16711 day of ~CTo8~1~ , 1997. C~k d~a- AL BOALS, MAYOR IN THE CIRCUIT COURT OF CRITTENDEN COUNTY, ARKANSAS 't ARKANSAS STATE HIGHWAY COMMISSION VS. NO. CIV 94-190 PLAINTIFF CITY OF WEST MEMPHIS AND LYNDONVILLE SAVINGS BANK AND TRUST COMPANY DEFENDANTS CONSENT JUDGMENT On this day comes on for hearing the cause the Arkansas State Highway Commission, plaintiff, vs. City of West Memphis and Lyndonville Savings Bank and Trust Company, defendants, on the amount of compensation to be awarded said defendants for the fee simple taking and temporary construction easement on the lands condemned herein as Tracts 2 and 2E, Job No. 110169, said lands being located in Crittenden County, Arkansas, and more particularly described as follows: TRACT N0.2: Part of the Southeast Quarter of the Northeast Quarter of Section 12, Township 6 North, Range 8 East, Crittenden County, Arkansas, more particularly described as follows: Starting at the Southwest Corner of Lot 16, Block A of Lyndon Subdivision; thence South 88° 51'36" West along the South line thereof a distance of 200.07 feet to a point on the Westerly existing right of way line of Arkansas State Highway 77; thence North 00° 11' 23" East along said existing right of way line a distance of 74.78 feet to a point; thence North 00° 20' 32" East along said existing right of way line a distance of 137.27 feet to a point; thence North 89° 39' 28" West along said existing right of way line a distance of 10.00 feet to a point; thence North 00° 20' 32" East along said existing right of way line a distance of 144.28 feet more or less to a point on the Centerline of Ten Mile Bayou for the point of beginning; thence North 42° 46' 12" West along the Centerline of Ten Mile Bayou a distance of 144.57 feet more or less to a point on the Westerly proposed right of way line of Arkansas State Highway 77; thence North O1° OS' 24" West along said proposed right of way line a distance of 68.11 feet to a point; thence South 89° 39' 28" East along said proposed right of way line a distance of 60.00 feet to a point; thence North 00° 20' 32" East along said proposed right of way line a distance of 300.00 feet to a point; thence North 06° 03' 10" East along said proposed right of way line a distance of 100.50 feet to a point; thence North 00° 20' 32" East along said proposed right of way line a distance of 150.00 feet to a point; thence North 21° 00' 07" West along said proposed right of way line a distance of 27.47 feet to a point on the Southerly existing right of way line of Worthington Drive; thence North 86° 11' 39" East along said existing right of way line a distance of 20.05 feet to a point on the Westerly existing right of way line of Arkansas State Highway 77; thence South 00° 20' 32" West along said existing right of way line a distance of 728.77 feet more or less to the point of beginning and containing 0.41 acre more or less. TRACT NO. 2E - A TEMPORARY CONSTRUCTION EASEMENT: Part of the Southeast Quarter of the Northeast Quarter of Section 12, Township 6 North, Range 8 West, Crittenden County, Arkansas, more particularly described as follows: Beginning at a point on the Westerly proposed right of way line of Arkansas State Highway 77 said point being 120.00 feet left of and perpendicular to Centerline Station 104+00.00; thence North 07° 47' 16" West a distance of 70.71 feet to a point; thence South 89° 39' 28" East a distance of 70.00 feet to a point on the Westerly proposed right of way line of Arkansas State Highway 77; thence South 00° 20' 32" West along said proposed right of way line a distance of 70.00 feet to a point; thence North 89° 39' 28" West along said proposed right of way line a distance of 60.00 feet to the point of beginning and containing 0.10 acre more or less. The Defendant Lyndonville Savings Bank and Trust Company, a predecessor in title to Defendant City of West Memphis, by entering into this consent judgment hereby agrees that the just compensation awarded to defendants for the lands condemned herein should be paid to Defendant City of West Memphis, and that by entering into this consent judgment Lyndonville Savings Bank and Trust Company hereby waives the restriction regarding the use of the property that is contained in Warranty Deed 2652 filed for record in Book 167 Page 129 in the circuit clerk recorder's office of Crittenden County, Arkansas. The Court finds that Defendant, City of West Memphis is the owner of the land condemned in this action, and as such is entitled to the amount of compensation awarded herein. Plaintiff and defendants have agreed that the sum of $500 constitutes just compensation to defendants for the fee simple taking of Tract 2 and the imposition of the temporary construction easement on Tract 2E. The Court further finds that plaintiff deposited the sum of $500 in the registry of this Court as estimated just compensation for the taking. IT IS THEREFORE CONSIDERED ORDERED AND ADJUDGED that defendants have and recover of and from plaintiff judgment in the amount of $500 as just compensation for the fee simple taking of Tract 2 and for the imposition of a temporary construction easement on Tract 2E; that plaintiff has heretofore deposited the sum of $500 in the registry of this Court as estimated just compensation to defendants herein; the Clerk of this Court is hereby ordered and directed to disburse to Defendant City of West Memphis, the sum of $500 in full satisfaction of this judgment. IT IS FURTHER ORDERED AND ADJUDGED that Defendant Lyndonville Savings Bank and Trust Company has waived the restriction on the use of the property that has been condemned herein, which restriction is found in Warranty Deed 2652, and filed for record in Book 167, Page 129 in the circuit clerk recorder's office of Crittenden County, Arkansas. '+ ~ s IT IS THEREFORE CONSIDERED ORDERED AND ADJUDGED that the fee simple title to the lands described herein as Tract 2, is hereby, condemned and vested in plaintiff and the temporary construction easement imposed on Tract 2E shall remain in effect until construction is completed. CIRCUIT JUDGE DATE: APPROVED: David C. Peeples, Attorney for Defendant City of West Memphis Attorney for Defendant Lyndonville Savings Bank and Trust Company ~~~ Mana L. Schenetzke, Attorney for Plai " ff ti.