1426RESOLUTION NO. ~~a
A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY CLERK
TO EXECUTE A DEED REGARDING
GEORGE KOCH SONS, INC.
WHEREAS, Arkansas Statutes require a written Resolution of the
City Council authorizing the Mayor and City Clerk to execute deeds
for the conveyance of real property; and
WHEREAS, George Koch Sons, Inc., as Assignee of Koch
Industrial Equipment, Inc., has tendered final payment of the
purchase price pursuant to a Lease and Agreement dated June 1,
1980, in conjunction with the City of West Memphis, Arkansas
Industrial Development Revenue Bonds, - Delta Case Project, Series
A, dated February 1, 1977, and has notified the City of West
Memphis of its intent to execute the option to purchase as provided
in said Lease and Agreement; and
WHEREAS, George Koch Sons, Inc., desires to acquire all
properties, both real and personal, including improvements therein,
which were the subject of said Lease and Agreement and bond issue;
and
WHEREAS, said property is presently held in the name of the
City of West Memphis, Arkansas;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF WEST MEMPHIS, ARKANSAS, THAT the Mayor and City Clerk are hereby
authorized to execute a deed and all other necessary instruments
for the conveyance of the properties, both real and personal, which
was the subject of said bond issue to George Koch n Sons, Inc.
ADOPTED this ND day of February, 1995.
SPONSORED BY:
C~~%c~~
AL BOALS, Mayor
RECEIVED
CITY CLERK OFFICE
DATE~~~ l cjci S_- 1: cE. 3 P.ti
a~Tc,H for J
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, by its Mayor and City Clerk, duly authorized by proper
resolution of the West Memphis City Council, in consideration of
the sum of One Hundred Dollars ($100.00), paid by George Koch Sons,
Inc., an Indiana corporation, the receipt of which is hereby
acknowledged, does hereby grant, bargain, sell and convey unto the
said George Koch Sons, Inc., an Indiana corporation, its successors
and assigns forever, the following described land situated in the
County of Crittenden, State of Arkansas:
A part of Lots 1 through 15, all of Lots 16
through 30, in Block 28 of the George T.
Kendal Addition, and all of Lots 1 through 15,
and a part of Lots 16 through 30 in Block 29
of the George T. Kendal Addition; and a part
of the South Half of vacated Madison Street
lying adjacent thereto, and a part of the
North Half of vacated Madison Street lying
South of Lots 16 and 32 in Block 24 of said
G.T. Kendal Addition less the West 48.48 feet
of said North Half South of Lot 16 and Less
the East 131.52 feet of said North Half South
of Lot 32; and vacated Second Street lying
between Blocks 28 and 29 aforesaid. ALL OF
WHICH IS MORE PARTICULARLY DESCRIBED in the
following tracts, to-wit:
TRACT I:
Commencing at the Northwest corner of the
Southwest 1/4 of Section 18, Township 6 North,
Range 9 East, at the intersection of the
center lines of Jackson Avenue and Woods
Street, West Memphis, Arkansas, thence South
along the West line of said Section 18 a
distance of 1, 325 feet to a point on the North
line of Jefferson Avenue, which is also the
Southwest corner of Lot 15, Block 27, Kendal
Addition to the City of West Memphis,
Arkansas; thence East along the said North
line of Jefferson Avenue, which is also the
South line of Blocks 27, 28 and 29, Kendal
Addition, 598.48 feet to a point on the South
line of Lot 15, Block 29, Kendal Addition,
that is 48.48 feet East of closed Second
Street, said last point being the point of
beginning; thence North parallel with closed
Second Street and along the East line of lands
owned by Delta Case Company 425 feet to a
point on the North line of closed Madison
Avenue; thence East along the North line of
closed Madison Avenue 120 feet to a point;
thence South parallel with closed Second
Street 42.5 feet to a point on the North line
of Jefferson Avenue; that is also on the South
line of Lot 30, Block 29, Kendal Addition, and
which point is 131.52 feet West of closed
Third Street; thence West along the North line
of Jefferson Avenue and the South line of
Block 29, Kendal Addition, West Memphis,
Arkansas, 120 feet to the point of beginning,
said lands being in the City of West Memphis,
Arkansas.
TRACT II:
Commencing at the Northwest corner of the
Southwest 1/4 of Section 18, Township 6 North,
Range 9 East, at the intersection of the
center lines of Jackson Avenue and Woods
Street, West Memphis, Arkansas, thence South
along the West line of said Section 18 a
distance of 1,325 feet to a point on the North
line of Jefferson Avenue; thence East along
said North line of Jefferson Avenue a distance
of 250 feet to the point of beginning; thence
continued East on the North line of Jefferson
Avenue 348.48 feet; thence North 400 feet to a
point; thence West parallel with the North
line of Jefferson Avenue 298.48 feet to a
point; thence South 125 feet to a point;
thence West parallel with the North line of
Jefferson Avenue 50 feet to a point; thence
South 275 feet to the point of beginning.
TO HAVE AND TO HOLD the same unto the said George Koch Sons,
Inc., and unto its successors and assigns forever, with all
tenements, appurtenances and hereditaments thereunto belonging.
And the City of West Memphis, Arkansas, hereby covenants with the
said George Koch Sons, Inc., that it will forever warrant and
defend the title to said lands against all claims and encumbrances
whatever.
IN WITNESS WHEREOF, the name of the grantor is hereunto
affixed by its Mayor and its seal affixed by its City Clerk, this
znc~ day of deb rcca.r.~ _ , 19~.
CITY OF WEST MEMPHIS, ARKANSAS
Grantor
By : -~ ~'~ ~ ~.-~-
AL BOALS, Mayor
ATTEST:
;o"' / ~/'
DAN CRAF' , C ' y e
L
-2-
A C K N O W L E D G M E N T
STATE OF ARKANSAS ~
~ SS.
COUNTY OF CRITTENDEN ~
Now on this day, came before me, a Notary Public, within and
for the County aforesaid duly commissioned qualified and acting, AL
BOALS, Mayor of the City of West Memphis, Arkansas, and DAN CRAFT,
City Clerk, to me well known and acknowledged that they had
executed the foregoing instrument in their respective capacity
therein stated for the consideration, uses, and intents therein
mentioned and set forth.
WITNESS my hand and seal as such Notary Public this 2nd day
of ~edr•avy , 19~•
Notary P lic
My Commission Expires:
MY co~u~ssioH ~aww~s,tu~Y r, z~ox
Amount of Tax: EXEMPT
I certify under penalty of false swearing that at
least the legally correct amount of documentary
stamps has been placed on this instrument.
GRANTEE OR AGENT
THIS INSTRUMENT PREPARED BY: DAVID C. SHELTON, ATTORNEY AT
LAW, P.O. BOX 1624, WEST MEMPHIS, ARKANSAS, 72303 Title not
examined and no opinion given as to status of same.
-3-
U
August 18, 1993
City of West Memphis
Office of the Mayor
P. O. Box 1728
West Memphis, AR 72301
R.F: City of_ West Memphis. AR Industrial Development Revenue Bonds,
Delta Case Project, Series A, Dated February 1, 1977, (Koch
Industrial Equipment, Inc. Assumption, Dated June 1, 1980)
Dear Sir,
Enclosed is an executed Release and Conveyance in connection with
the above bond issue. As Trustee and Paying Agent, Mercantile Bank
has received the final payment of principal and interest. This
release will finalize and close this bond issue.
If you have any questions, you may call me direct at 1-933-2222.
You may want to have this Release and Conveyance recorded at the
County Circuit Clerks's office for record.
Thank you for your attention to this letter and release and for the
opportunity to serve as Trustee and Paying Agent of this bond
issue.
Cordially yours,
%' V -
Gina 'Winchester
Corporate Trust
Account Specialist
enclosures
cc: George Koch & Sons, Inc.
Attn: J.C. Oskins, Controller
10 South 11th Avenue
Evansville, Indiana 47744
Irlercamile BanN
P.O. DRAWER 6018 • JONESBORO, ARKANSAS 72403-6018 • (501) 935-5521
RELEASE AND CONVEYANCE
RELEASE AND CONVEYANCE dated as of August 18, 1993, executed
and issued by Mercantile Bank, Jonesboro, Arkansas, as Trustee (the
"Trustee").
WITNESSETH:
WHEREAS, the City of West Memphis, Arkansas (the "City") has
issued its Industrial Development Revenue Bonds, Delta Case
Project, Series A dated as of February 1, 1977, in the original
principal amount of $500,000 (the "Bonds"); and
WHEREAS, the Bonds were issued under and equally and ratably
secured by a Trust Indenture dated as of February 1, 1977 (the
"Indenture"), executed and delivered by the City to the Trustee,
and recorded in the office of the Circuit Clerk and Ex Officio
Recorder of Crittenden County, Arkansas, in Record Book 542 at Page
197; and
WHEREAS, the First Supplemental Trust Indenture was made as of
the 1st day of June, 1980, by and between the City of West Memphis,
Arkansas and Mercantile Bank, Jonesboro, Arkansas, a banking
association organized and existing under the laws of the State of
Arkansas, executed and delivered by the City to the Trustee, and
recorded in the office of the Circuit Clerk and Ex Officio Recorder
of Crittenden County, Arkansas; and
WHEREAS, the City, in the Indenture, did grant, bargain, sell,
convey, mortgage, assign and pledge as security for the City's
obligations under the Indenture, the following described property
(hereinafter referred to as the "mortgaged property"):
1.
The following described real estate and premises situated in
Crittenden County, State of Arkansas, with all buildings, additions
and improvements now or hereafter located thereon, together with
the tenements, hereditaments, appurtenances, rights, privileges,
and immunities thereunto belonging or appertaining, to wit.
TRACT I:
Commencing at the Northwest corner of the Southwest 1/4
of Section 18, Township 6 North, Range 9 East, at the
intersection of the center lines of Jackson Avenue and
Woods Street, West Memphis, Arkansas, thence South along
the West line of said Section 18 a distance of 1, 325 feet
to a point on the North line of Jefferson Avenue, which
is also the Southwest corner of Lot 15, Block 27, Kendal
Addition to the City of West Memphis, Arkansas; thence
East along the said North line of Jefferson Avenue, which
is also the South line of Blocks 27, 28 and 29, Kendal
Addition, 598.48 feet to a point on the South line of Lot
15, Block 29, Kendal Addition, that is 48.48 feet East of
closed Second Street, said last point being the point of
beginning; thence North parallel with closed Second
Street along the East line of lands owned by Delta Case
Company, Inc. 425 feet to a point on the North line of
closed Madison Avenue; thence East along the North line
of closed Madison Avenue 120 feet to a point; thence
South parallel with closed Second Street 425 feet to a
point on the North line of Jefferson Avenue; that is also
on the South line of Lot 30, Block 29, Kendal Addition,
and which point is 131.52 feet West of closed Third
Street; thence West along the North line of Jefferson
Avenue and the South line of Block 29, Kendal Addition,
West Memphis, Arkansas, 120 feet to the point of
beginning, said lands being in the City of West Memphis,
Crittenden County, Arkansas.
TRACT II:
Commencing at the Northwest corner of the Southwest 1/4
of Section 18, Township 6 North, Range 9 East, at the
intersection of the center lines of Jackson Avenue and
Woods Street, West Memphis, Arkansas, thence South along
the West line of said Section 18 a distance of 1, 325 feet
to a point on the North line of Jefferson Avenue; thence
East along said North line of Jefferson Avenue a distance
of 250 feet to the point of beginning; thence continued
East on the North line of Jefferson Avenue 348.48 feet;
thence North 400 feet to a point; thence West parallel
with the North line of Jefferson Avenue 298.48 feet to a
point; thence South 125 feet to a point; thence West
parallel with the North line of Jefferson Avenue 50 feet
to a point; thence South 275 feet to the paint of
beginning, said lands being in the City of West Memphis,
Crittenden County, Arkansas.
2.
All machinery, equipment and other personal property of every
kind and nature whatever acquired by the City and placed in the
lands and improvements described in "1" above, or elsewhere,
including, without limitation, all replacements and substitutions
which become the property of the City pursuant to the provisions of
the Lease Agreement (as defined in the Indenture) and;
3.
Any and all other property of every kind and nature from time
to time mortgaged, assigned and pledged as and for additional
security under the Indenture; and
WHEREAS, the City has provided for the discharge and
satisfaction of the Indenture by paying or causing to be paid to
the holders and owners of the Bonds and coupons appurtenant
thereto, in the manner provided by the Indenture, the principal and
interest due thereon, and by the payment of all other sums payable
by the City under the Indenture; and
WHEREAS, all conditions precedent to the satisfaction and
discharge of the Indenture have been complied with;
NOW, THEREFORE, the lien of the Indenture on the mortgaged
property is hereby released and discharged in full and the estate
conveyed by the Indenture to the Trustee is hereby reconveyed to
the City and all such property held by the Trustee is hereby
assigned and delivered to the City.
IN WITNESS WHEREOF, Mercantile Bank, Jonesboro, Arkansas, as
Trustee, has caused these presents to be signed in its name and
behalf by its duly authorized officers, and its corporate seal to
be hereunto affixed all as of the date first above written.
MERCANTILE BANK
Jonesboro, Arkansas
TRUSTEE_
1
By 7 / ,w~ ~~ ~i~,~~ ~
T:
ecutive Vice-President
Vice-President, Trust Officer
MERCANTILE BAS; K
OFFlCI~'~L SEJ~L
JONESBORO, ~IRK~~NSAS
ACKNOWLEDGMENT
STATE OF ARKANSAS
COUNTY OF CRAIGHEAD
Before me, a Notary Public duly commissioned, qualified and
acting within and for the State and County aforesaid, appeared in
0~,, person the within named
STEVE BAKER and JOHN C. FREEMAN ,
Vice-President, Trust Officer and Executive Vice-President,
respectively, of Mercantile Bank, Jonesboro, Arkansas, to me
personally known who stated that they were duly authorized in their
respective capacities to execute the foregoing instrument for and
in the name and behalf of the Bank, and further stated and
acknowledged that they had so signed, executed and delivered the
foregoing instrument for the consideration, uses and purposes
therein mentioned and set forth.
IN WITNESS WHEREOF, I have hereunto set my hand and official
seal this 18th day of August, 1993.
1
/~ /
rj', Not ry Public
My Commission Expires:
OFFICIAL SEAL
~~:~~'~ NORMA JANE CLAY
' NJT,9°'~ ~~ ;SAS
G~AI~;icP,D CJ IdTY
k1y Canelisslon Ez~ires: -~_ ~.,~