April 1, 1952~o;
P~~IIINTIS CPA REGULAR I:F,liTIArG GP THE CI'T'Y COUNCIL OF THE CTTY Cr' tiVE'~T P;IEI.:PHIB, iwTrtivlNSAS
Iu1D ~11VD `IELp UN AP13IL 1, 1952.
The Council of the City of West Prlentl,his rnet in a regular session at the City Hall
in said City at 7:3C P.i,1, on tl,e lst day of April, 1)52.
The meeting was called to order by the I+~ayor, and the roll being called there v~ere:
'recent: i:[a;;~or ,y. B. Ford;;rce in the chair grid the foilowiug named .Aldermen;
James Bledsoe, ~. =. :;ollint;or, Free';ran Finley, Curtis Foster,
~. L. Garrison, :~. h. r~ianchester, P. B. Poovers, and C• II. Rowton~
City Attorney J. Ii. spears.
Absent: Plone.
The following proceedings were had to-writ:
P.iayor Fordyce announced the firc;t order oi' business would be the appointing of a
City Clcrlt to .fill the unexT.,ired term of ICenrteth llollis, wro had suhrpitted his resi~raticn
due to his proving from the City. `T'hereupon, Ila;;ror Fordyce r~co,:nnended the appointment of
'r. J3. Seaton as City Clerk for the remainder of the term ending Jecernber 31, 19~i2, After
discussion of the matter, motion eras made by ~lderrran ~3arrison and seconded by Alderptan
Bledsoe tt,at the ar-poirrtment of VV. B. Seaton as City Clerk be affirmed. Upon the matter
being called to vote, the following voted;
Aye: 3ledsoe, Boi inner, Finley, Foster, ,arrison, Manchester, Powers, ITovvton.
Nay; None.
I„ayor Fordyce advised that there having been filed a petition on March lt?th
re«ue:.t,irig 1 :dour parkin; between 7th and tlth Streets inasmuch as rro action had been
taken on the Y~etition at that tune he vans novv advised tlrut another Y~~ tition had been
circulated and tl,e Council would now consider the secostd petition if presented.
Lir°. Bill Anderson thereul~~on presented the follotrirf; petition;
PET_TI OrI
ire ti,e undersi ned, ai't~_r tiwrou,;h thou~-ltt an~i consideration of tl~ie prang
i~actors, do iier:;by a„r~:e ~tir~.t a time limit on prsi.ir!I; bete+een Seventh and
'~-.hth Utreets ,could seriousl;~ ira>ir car business.
'Phe Fair ~epart.:rent ~~~re
IIelson~ s 5 and 1Or ;;tore
~T, i3. i.artin Used Clolh.rrg
Harrys Sales S1,ore
Jerrold ~iVeisburd
IIarr~~ teisuurd
3ern~~rd Iiisrh
1. Poole
Chas.Lura (srccery
13ar9_lour~ s
Paul b~~tthews - :1rk. Paint ~md Glass Co.
iti~ ,. ,~::9~
l,fter discussion of the matt .r with a norther of the property owners in the a.res,
•,tiho t~+ere present, 1,Tayor T'•ordyce stated the mati:er would be taken under ,,dviseruent by
the Cour?c:il.
p,~a-: or i orl rce next annr.unc ~d Lrr4.t the pre et inE; would nova ~ e or,en i or• a hearing; on
the contract: being ne_.;otiated by the City _+nd ;,al~.ace L. Johnson, Tne. `Phe contract
;~_,s t.lien read and several itc:r;ts o3' difference between the parties were di:,cussed and
adjusted. Arrpearir~g in behalf of uallace ". Johnson, ire. t~ r~~ :.u. :J. .i,'~~,he,
v ~ c ~•-~'rc ; _i c~er:l; JudT;e ba. I.. .Inrr~r, i.:essrs. bond, I:iescrs. ;.iricpat,riek and i,ie_luley.
I:iotion ~~aas r:racie by :"~ldernrarr ;~ o;;t ~r that the J.fayor ~.nd City Clerlc be and they
are hereb;,r authorised an~3 directed to sign the follot°rinl; contract:
_ _ _ _ _ _ _.
_ _ __
i;~.11I= ~ Vlt.'~! ali3i)IlriiGP` l 'ili.Vl ,;DIl n ~lt};l~''i.1:;i?'f
T?II3 ,'ai3Ri3iJ1:_.Dli enured into t:~is da;,= cf , l;~~2 :~,~und '~et,r:~on the
City of ',lest :ietnr his, a ;;iunic.i,~al rOr j:ora't-on es~ t~.n„ under the iat°rs of :~rlcansas,
hereinrsfter ca.iied City, and "„dilate L Jol;nsen, Inc., a 'Cenne:see Cox•t-oration ti°aitlr
principal offices at 875 isfner, iie,nl~his, 'Pennessee, :inali.Yied to do business tic~itl:in
tyre t;tate of ;lrkansas, hereinafter ca.~.Led Johnson.
'~i1:T"i);S51:TFI: That,
~;HF:S-",~, Jot,nson is the or~rrer, or trill ac faire the o,.nc:rship of, a tract of land
situated within the corporate li..aits of the City, shovrn on the attached plat of I;•:.ay_~his
Vievr Subdz.vrs.°~on,us pro .red by C. I. Bond, Civil Lrl;inc;er, antler date of October 11r, 150,
arn1 rr.aJe a part of this agreement as l~hibit °N" hereto;
r'::;:'~;(kS, tr~c attached Mat sets forth Johrrsonrs proposed pi~m for the tiu:xiivision o:f
said tx•t~ct of land, vr77ich proposed plan of subdivision has bean ar:r~ruved by the City
i'lanr,ing Co:~unissi.on ,and is approved by -the City Council, subject to the etecution of this
agreement and subjer.t to the provisions herein eontair:ed;
~'.a1L'':15, 'the parties are desirous oi' enter•i rx into ci;is a~rce;rier;t to lrovide Sor the
insta~:Lati.on of utilities within the sai;j subdivision and 1'cr the develop,acnt of ti;e same;
and
(.x':;1;;1;',, it is conteraolat.d that Jo]mso;:, after t,lro e:::.cution of tills a•,zae,•tE~a, trill
sell :nd convey 27k tote (oei.r~ all of t!ie lots, e~:ce.t lot 2j of 31ocL 10, Lot ~6 of %lock ~,
Lot 23 of~loclc 1, and play park Lot 1 of ;31oc1: 9) in the said subdivision to i•_er~phis View
Homes, Incor,~orated, an :~rkansas corporation orl;anized under ti,e I;ener•zl law of :,ri:znsas,
which corporation proposes to obtain a urort;a~e loss of T';ro .,Bali-on rive Hundred ~i;;t;'-3even
Tl;ousand and ,?o; 1,~0 (~r2,567,~oU.Jd) llollars fi•orn ,ax:: ~ "ensdorf, Inc., in rri~ich tyre
Union i'lanters Plational Gant: of i.ie:~,phis t:i11 participate, to Le insured by the Federal
Housing ..",dniuistratiou un~..ler section 213 of `title Ii of the i~dat:i.onal iIousin~; .;ct, as amended,
and upon oahich federal iIoxr;ing Administration has is~raad its co;m:rittrlent for insurance wider
Project i'o. OG2-3~~~-s, e:;press references belnt; heretiaitlr r,ade to the said r'ederal llousinZ
Administ-ration~s connnitment for insurance as issued by the T~ederal iiousiri€g Coru:r:issione~r
under date of Jepterriber 2~i, 1? ~1, and as amended under Gate of Decerber 1?, 19>l;
NO'~.d !'}{'~~EL•'ORE, for and in consideration uP the premises, it is mutually covr-nanted and
a~-reed as follows:
1. Geclication of strcet:~, alleys, utility easements anti play park.
Johnson agrees to dedicate t,o public use forever the streets, utility easements, alleys,
Play 1'arl~: Lot 1, _?1l.oc}c 9, acrd Lot 25, 131ock 10, a.s shov~rn on said attached plat; and Oity
agrees to accept said dedication anti aY;rees tc the perpetrrn:L maintenance and upkeep of tyre s<z;rie;
2. Bill of ;lssurance.
simultaneously v~~ith the filing; of the pL.t of subdivision, Johnson will e.,:ecute t.,e subivision
plat, r"aalcing t;he dedications as afox°esaid, .rd ari-11 eaecutc (along vri~th oche: int.ex°ested oti~arrers)
a Bill of Assurance in re=*ard to said subdivision in form and substance to that attached l;ereto as
!;:.hibit nBn, and t1;e City vaill si:uultaneously e~ecai,e its acceptance of the said subdivision plat,
and its acceptance of the said ti.il of .,ssurarrce;
3. Utilities: City to provide public ureter 4.r;d electrical uti.li ~.es.
City agrees that it wall install in and through the said subdivision, r,ithin the easements
as shotirn on the dedicated plat, r~iaintain, wncl i'urnish, the fo11o•Yrin~; utilities for the purpose
of serving each of the aforesaid 274 lots triti,in the s.ic subdivision;
(a) 1J~;tent: serve each built-upon lot; install all untilerl;round ut ilit~r ,.:dins ai;d
late.:cals before lllStallatlOn of stxeet suri'acir~.
(b) Public v+ater system.
(c) sire hydrants; spaced not more than 1,J00 feet apart and served tivith tiaater :uains
not less than Err in diameter.
(d) ~;lectricity ; a.l electric lines in ease~:rents alonE; interior lot lines.
(e) t;treet lit>hting; at all intersections.
In regard to the teeter syste,r, the City as to each individual lot, trill provide tyre
rsater at the lot line and will deliver the water at the meter to the user.
In re~.ard to the electricity, the City ti°riil provide tt.e rnet::r as to each individual
lot, said meter to be in;~talled by i;ity on the house to ire erected tl"rereon, and will deliver
electricity to such point to the user.
6U.
In regard to the said vrater and electric utilities, Cite vrill install same in such
manner, so that said utilities vial fully and adequa.te];;T provide such utilities to oath
and every of the 27~ lots, comp L::te and reader for use, at City~s sole cost and eapense.
City, of course, to charge tl:e users of such services, after ine;tailation, its prevailing
rates and charges as provided by orcliriances.
;,'ity vrill make said installations in accordance v+ith the requirements of ;trl:ansas
State Law and ir+ such rnanr,er as to be accel. t,•xble to the Federal lIousnf „dnrinistration
requirements.
City agrees that no Tier: or assessment trill he applied against the aforesaid 27L~
lots for ti7e pa,~+nent of the installation of the re wired utilities, (however, this does
not preclude the City from charging its usual rates and service charges for tfility
service to users in accordance with ordinances of the City of '+west lwlerr_,.~his and the
statutes of the Sba{;e of ,^;rkansas.)
City v1i11 catLSe ti+e installation of tl:e aforesaid water and electrical utilities
to be commenced inunediately follov+ins the initial insurance by r'ederal Housing
Administration of the said loan in the stun of T~;C !,;ILi,lUly F1VE I?UP:Di1LD SIXTY uEVr.Pi Tf1OUSAND
(:„;2,567,000.00) DOLIARu AND grill cause said vrork to oe prosecuted with reasonable
diligence, with the objective that the vrrter and electrical utilities will be available
and ready to service each house upon each of the aforesaid 271 lots as cou:pleted; provided
that Johnson, as to any house, ,-rive at least thirty (30) days prior written notice of the
completion of that said house.
I11 this connection, Johnson a~,rees tl;at Jolurson v+~.ll construct houses in consecutive
order i'rom the South. of tree Subdivision tc t+e idorth, it be:;n~r Jol+nson~s plan to first
build houses on Ingrcu~: Loulevard fro~a the South end of ;subdivision to -the P;orth, and then
to construct louses on other streets, working; frorr file Soutlr end of -the ;;ubdivision to the
Plorth, In this :canner the (;sty, tl~rou; h ins taalinrr its utilities from the South to the
Nortl: of tl.e sane street or streets that Johnson is lnzilding houses upon irr consecutive
order from the ;south to t}~~e ror•th, tail be assured that houses are being; built for connection
t,o its utilities as the City ins';all.s the sa+:+e.
4. fiond by Johnson to City to protect City on its cast of instailin;; public water
and electric utilities;
The City'„ preli:ninar~y estimate of its costs of inst,allinf t+;e public vrater and
and electric utilities, as set forth in P&:r~ 3 above, is:
(a) i'ublic vrater aystem, including fire hydrants and meters--------ti~106,000.00
(b Electric distribution system, including street lightir><,
and me+,ers---------------°---------------------•-------------- !~~(r000.U0
TOTAL ~p~,i5(R5.'J~
City is willing to incur said cost only on a basis of being reimbursed said. cost,
unless 271 houses are built upon the said 274 lots, available for corrrrcction to the said
utilities. accordingly, in order to assure the City reimburse~r:ent oi' said cost, in the
event that less than 271a grouses are cornlileted on tl:e said tots, Johnson agrees to furnish
bond in the penal sum of One Pu.nflred F'=i-i'ty 'Thousand and no%100 - - - - - -Dollars
(.;r1~0,000.0U), (being 1~0;; of the Ci-tyrs estimated cost) '+;ith a food and solvent surety
contl~any t~s surety tl>treon, licer>;.ed under the lays of _;rkansas as a surety company.
'The bond shz.i.l be in the 1'onn of that e__lribited hereto and made apart of this agroe;uent,
and marked ~Iribi-t nCu.
5. Johnson to provide public sanitary se~+rat;e system, incltzdirk; outfal.l se~~+er to
t1i s sissihpi i~.iver:
Johnson agrees that it wi'_l install the^ou~h a competent and bonded contractor a
public sanitary aewcral;e system, e:,tencling fro::: the l:li.ssissippi diver, in and throuF;hout
the said subdivision, ail in accordance with the follovring described plans and specifi-
cations therefor;
The plans for the sanitary setter systern for ldemphis View vubdivision,
];canphis piewx aor::es, incorporated, s';'est 1.?e:npl:is, ;Lrkansas, including the
outfail line to the Mississippi Ttiver, dravrn by C. lf. Bond, l;larion,
1lrlcansas, (scale 1 inch equals l0U feet) consisting of pages 1 through 1U
are attached hereto as F,xhibit D. and incorporated herein by reference and
said marking and. designation as Exhibit D. aipears on oath pa„e oi' the
said sanitary server plans as follows: "F~.hibit D, llgree::ent of , 19y2,
between City of test l.;e:nphis and ti+a1-lace E. Johnson, Inc.~~
'Phe specifications are attached hereto and incorporated iTerein by
reference, liiarlced I~,xlTibit E. Tley are tiTe specifications covering
the aforesaid glans (r~xhibit D) for tl,e sanitary sevaer s~~stem for
t:'erlthis View Subdivision and for the outfall Line from Ten ie~ile
}3ayou youth to the Mississippi Ttiver. 'Lhe said specifications
exhiuited hereto as Exhibit E consist of pates 1 through y2 and
on teach page al;pears the wording; 11Exl;il,it E, Agreement of
l~>2, between the City of l~~est La~ahhis and ,tai lace
E. Johnson, Inc.l]
'T1Te contr:cYor snail „uararTtce ail rotork of raateri~ls al-rinst
faulty or poor -t~urh.aanslTi}:i during tl:c construction period and
for one year after t11e date of completion of said contract.
The contra..ctor sl_all perfornT such tirork under the supc-rvision of,
and with inspection b;;', A :iegistt:rcd nl;ineer to be enr;a~~=d b;;r
the Cit;,r, and placed a ;on ~l"Te job;
The contractor shall provide a Suret;,~ CoT~;~any bond, in standard
form, for the }TerforLnance ~:f its ountract. to do the above -~•~rork,
in the aT:lount of 1~0~' of the contract price, raith 'oot1T the cit;,•,
aTid Johnson, as joint oblir,ees of the said bond.
Johnson ap:rees that in the event of any overruns ..n quaraity
estirtate5 that are necessary for file construction of the sevaer
lines, pwnpin~ stations, and other ite:,TS set forth in said plans
and specifications are to be paidior by said Joi:nson.
In the event the City of west i~eraphis desires to chanEre the
location of the iTigh level outfall sewer. i.t may do so provided
that any additional cost involved shall be paid by the City.
Johnson will provide and procure, vuithout expense to the City, the ease,nent
and ril,ht-of-t•~ay for i:he outfall se"~~er extending LroT:T Ten r~~ile I3 ayou, to the
.ti.ssissippi lliver, such ease,aerrL and right-of-way to be taken in the rlarle oL the
City; and Johnson will install Llle said public sanitary :rel~era;e system v'+ithin
the said easer~lent and -ricrl]t-of-way, and vTlthin tt;e euseaents as shotivTi on the said
dedicated ; :Eat, ail in accordance T~rith the aforesaid plans and specifications t,ilere-
fm:. Johnson tivill provide a nyn at eaci] lot of th:, -said 1711 lots coTn-TectirTzi kith
the said pLiblfe sanitar;,* Uc~ier<,,e s;Tstem, un:l the C1t~~ ,;iL1 r:cceht delivery of
se.acral;o at such ,loin t.
`he entire installation of t1: ; s lei _~;ioiic sarTitar;;~ e.l era, e steal shall i>e at
Jolmsonls :role e~,;cise ana cost.
John; On VJ111 C:zuSe the 1r1u t -'l.11t1.Cn Of t1iC ~a1cl h11U1' C N.:T'.1 t,11 ~' SC er :=~C :i-~`S telil
to be cone, teneed ihroTrlh its con-tractor i;:TTnc.diat,ely follor~irii; the initial insurance by
l~etleral IIousinE~ Administration of said loaf Ln Elie slnz of i`;~c Tai:Llion, ivc ilundred
Sixty-aeven ~pnousand, and }?o,~1C0 (;`t.,~67,000.J0) dollars, and vrill ca.u,e sale] work
to be hros~c°.?ted in such ;,,arn~er that said sEt ~~~.~-e ut.Llitl~ Till be availaule anti ready
to see^aice each house uycn each of t1T a.~re:ai.d 27iL lots, _~ co~_~~let,ed.
~'uze.e cerL.~in parts of the outfa.~l set.er can oTtiiy be worked upon and completed
r111Y':Ln? CE'1'ta.ln Short periOd`u Oi. t~i8 ;,'e3L.T', ~12[781iCiellt fir. tl;C Tc. E. t~l'~:r a.no tTli: S-l.a,'e Of
the l ls~_issippi iti.ver, it .is u,r.:ec? i,_,it: .ael~v-r~~- of she ~~+~ra;e r~iil be t~~rnitbcd
u;>• the ;,itj~, at; Johnson's ;o.~t, b;. ct!Ter tera~orar~- -., .a._,~erlents i a.y~rroved by _rk.
-tat (ica.'rci of 'leal.tli, until l:hc 1i<,atlr, lnrl ~;ta: e o.i t]]e !'ississip~;i i;ivor hermits
cc~mple~tion of th~~ entire outfa~ l seo-;rr.
o. atreets, ;;arcs, ~:utters, Cicie~aiks, ~torlr. ' ~ in_1}rs;
Jol:ncnT; i.erees that it will at its ovm cost and exl~,snse r•rade, construct, send
complete ail streets, s~tr_~t i.1:TL~rcve•.:ants, curbs, I;utters, side,.~Llcs seed ::+tor~~! ...~~t:er,
. _ plans dnu spec i;'ic_ cl.;ns ~ erefor n;i-r on file t+ith
ail in actor:lance ti':itn _fet'=i~cd
tLe r~.~'c1YLL tio,ain~; r,d,;ur.._s_ration, and a.Ll In ~1cco~::~_~.,-ce vdltl'! .rk~.TS3.u .Lati'~~, and in
actor:'.<~.Tace ~,it: file 1~'iL"t r~ :a_r~, ._. ts, :.i~~3 in ~i.ocr~;ance uit.i~ the e::ist~r, c,r,~a~irlces
of the ~~ ~ ty .
11"~`; 1'C:.. '.o ~i t'. :: .1 c~~t, :._.::"~Ll Uli 1TT £i^L~;. . :.lt ~,. ._1!i ,1 _.~,u,~ ~J .. _, i%1'C'i 1~.11:d bj'
;tor pr'.:.• eta t1;z ao,.~.ancb.~oTib ~~; r~srl:.
Jc;hr,:;gin v~rill ~u::i:,r::nce raid :,t,rcet i_.l.sc. .._c_r;,, aes sos.~ ..,, s 11 „?,~6'j,u0v.~,~d
. _. :'
,:lortt ~ .,e 1o~n .~ •- inl ~ i<>11:> to ~t. Y 1 .. ~~,.~ i ~rt.r~ n ar~d r~r~ 17.
ro:,:,~;uLe .~.~.ica T:rcL•l: i-n suclT ;:taTT,.~:~• t;hv.t tl:e strec,t~ ti,~ l_l a~ av~._i!.~Lle to service
each oi' file 'z7f1. houses, sys coraaeted.
6C
Oti~ane:r•sh~p of a!_1 stroc.ts, street inrrove::rent:~, clubs, ,nt;ters, "ideti:u7l~s ::rnd
inr,r ee•~rer, shall v t ~bsolr_tel;; in tabs ;it;;- as cosi:~'_ted. I,il:.ervise, nvs~,ership
oi' the r~uhl_ic crater sastem :znd of t1,e electrical listri:_:ut:.on utiliti;:~ shad. be
'.n the 7i fir. The of°r crer i.p of the ~n~bli~ _arritx~r s: ~,~re ~terr i'rom the
_ _. ;
Iis~issr-r:i-~:firer ~n~rrd t:~xo~;lrc:ut the ,,uh3lvislcn, .nd 1;o and incluu~in~; the
°Y" connection at e.?ci, Lot, .>hall i;e vested, as coat?1„led, in the „i.ty.
v. _,ssursr.ces to Federal Heusi-nr ~ul:airis~tr•ation;
;it~r under tarrd~ Ihat at the initial. ci.osira~ of the P'eder~.7_ :?ousi.nl; ~driinstra-
tion insured loan, i±; vrill he n~cessaxy that P'IIFa have assu~,^ances aatisf~rctory to it
in letter form from City tLat tl,e 271 lots Trill have electricity, and priblic Hater,
rea.:1y .for use as th:: i,ouses are corm-leted. City, fir. vietir of the undertakir~-s herein
,rade to it by Joan::on, arees that it. vril.l l;i.ve the ai'oresaid assu:°lnces.
?. Contirr~ences:
Thais al;r::erient, r~rid a_Ll. un<:lertalci?:I=s of eacPr Lrarty hereto, are s:;t>ressl~T
con._r_~~ent upon, and cord_itions upon, tl;e initial insurance b;;r I'II:'i under the
airr~,~a.id corruritraent of tl,e :>aid y~2,~57,000.1.~0 ;ao-rtsrai;e to be eJ:ecuted by t.iemphis
','ievr Iones, inc., both pc,rt!r :~";rr~eirrs; to r.,aka every effort to accomplish this
objcr;~ti~.e.
If, for any mason, 1al,et'_:~_r t?e fault of eitl:~er ,?art,y hereto or not, the said
loan is rr~~~t initia:Lly endorsed Frith I''I:~i insurance, then this azireemerrt and a1.1 of the
un:Iert=.lin,~,~ arra chx±~ies oi' each of the pr7t,,_e:: '::ereto =Pr~ll become armulled and
c•zneel.Le1, acrd in such, e~~errL the City, it re~lu.cstc~~1 by t'ae t`,en o•.~n;er oi' tine lead
.,horn within said suLdivision, ~~;ill rolerrse lire said tr,.ct oi' Land from the dedications
and from the !~i11 of ~4ssurance; <:nd corr~ersely, tl,e City; shall be released and
relieved of any duties a.nd obli,;ations consrecaed tivi'cYr its acce~~tarrce of. such dedications.
10. Interest cf i,ender•s ~ecog,nized.
This a~reernent, and ti;e r:index°takin-;s of ::oth city and Johnson shall inure to the
bc:nefi_t of, and to the protection of, Ilar^: an. Bensdorf, Inc., acrd Union 1r'lanters
National 13anh of i.iernphis, as the lenders, :rkrl<int~ said yp2,567,000.G0 loan, -that is to
say, in the event that Joi:nson does not complete said contract and the said lenders
step iu <cnd complete same, the Cittr tivill be bound unto said lenders as it has herein-
before, acknowled(ed itself bound to Johnson.
It is agreed bettiveen all part;i.es hereto, that in the event of ~rar, act of Uod,
strike, or conditions be,yound the control of the parties hereto, then neitkrer party
shall have any right to d~ura~res ar;ainst tile party or parties hereunto by the reason
thereof.
srIT>"ta;i the si;~,nature of ti,e parties ti:e day and ye~~r first above vrritten, the
signature of the City beint;i~y and through its duly authorised of'ir.ials, pursuant
to proper resolutions, ordinances, and „nrnici;al po~vers, and the signature of
Johnson bein~t by e.nd throuc-h its duly authorized officers, pursuant to proper
corporal ion resolutions and proy~er corporate poi°rers.
11TT.".`.iT:
C1TY Oi' hiC: :.I/i'L:ia.S, :;Ri"viIIS:
Y~ 1
~~ I:ia,,ror _
lieCUrder ~~
(this corporation has no
corporate seal.)
ATTN'a'P
5ecre any
~wAl_,L;1CE E. JoxllSOh, 1rlc.
BY:
~'res~ io~errf.
The :ao~tion bras ~.:condad bu~ iildor,uan aoilins_er, a.nd u;on tae matter beir~;
called to vote, the ['ollvl~irl~; votod;
Vie: 131edsoe, 3ollingcr, :'inlet', I~osi;er, ~;~.rri_son, Manchester, 1'o~,~ers, Rov~rton.
Nay: iicne.
I,Ir. J. 65i. ~:irkpatriclc of i~~enlnis ~Jier°r I:ornes pres~ented ease;aents that had been
obtained from property o~mers in the area in irhich it would be necessar;; to
construct the outfall ^etiaer line. ,.a.se;ents fror:r ;+ill:ian L. Johnson Oera;;an~~, inc.
Drainage District DJo. 6, Ii. (}. Dickey, Chicago-;Yocl: Island ~: Pacific Railroad, and
5t. Francis Levee District of ';rkansas mere read rnd discussed.
Thereu~~on motion was made by flderman gollin_er that tyre Iiayor and City Clerk
be and they are hereby authorized, directed and instructed to execute easement
between V~illiam i,. Johnson Curirpany, Inc. and ti,e City of guest ..enrphis.
Tlris motion bras seconded by :;lderrrcan Garrison and upon the matter being; called
to vote, the fo)_lolwinF voted:
Aye :Bledsoe, flol.lin„er, Finley, Foster, Garrison, I:Ianchester, rovers, il,ovvton.
Dray; hone.
Iaotion was made by Alderman Foster that the ;iayor and City Clerk ire and
they are hereby authorized, directed arld instructed to e~:ecute e<.ser~ent between
Drainal;e llistrict TIo. 6 of Crittenden County, ',ri<ansas, and the Uity of }nest i9icrnphis.
This motion ti~"as seconded by elldex•,.,an r~ianche~ter and ur~on the matter bei.n~ called
to vote, the following, voted;
A,;re: nledsoe, ;olinger, Finley, Foster, C,arrison, I,ianchestcr, i~o'rrers, PLO~rton
A?ay: Done.
Lotion eras made by Alder.:ran liovrton that the l,:a;; or and City Clerl: be and
the3~ are hereby authorised, directed euld instructed to ei:ecute easer,~ent betti~reen
H. G. ;)iclcey- and the City of lest i.:enrphis.
This motion was seconded by r,lder::ran Gu•rscn and upon the ;..after beinJ; called
to vote, t'.~e followin voted:
AD~e: 1?iedsoe, Bollinger, 1~'inley, F'ostcr, Garrison, r~~anchester, rol=+ers, Rov~rton
Nay: None.
P:4otion vvas made bar AldermanF~-nley that the l:a~ror and City Clerk be and
they are hereby authorized, directed and instructed to erecrrte easement between
Chicar;o, Bock Island and Facific Railrcat Company, and the City of ;,'est ]:Jemphis.
This motion was seconded by Aldex•r.ran poro+ers acrd upon the matter being; called
to vote, the following voted:
Aye: Bledsoe, 1;o11inler, Finley, Foster, Garrison, I:!arrchester, rowers, rtowton
Nay; None.
i,Iotion eras made by 1"i:lder7:ran Bledsoe that the ..layor and Cit~* Clerk be and
they :rre hereby authorized, directed and instructed to execute ease;-neat betnreen
5t. Francis Levee llistrict of rkansas, aid the City of rues t L:erayhi.s.
T;:is motion eras seconded b;r Alderman ~oilirr+er and. upon tyre r>v.ttcr being; called
to vote, the .r:ollo~v~.ng voted:
eve: :Bledsoe, Bollinger, I'inle;;~, roster, arrison, L°:anchester, Yozrers, Rowton
Dlay; T?one.
i„a~ror rord~ce called tiro Council's atterrton to tl;e recor.uaendation of the
plarn~inY; Cormrission approving the Flat of Iiemrvhis ~Tietiw Subdivision and tY,e Bi11
of ;assurance that he had submitted on f,arch 1&th. After discussion of the ratter,
motion eras made by Alderr;ran Finley: Tk-rat the flat oi' the Iaenrr.his mew Subdivision
being El~ of i"J~ of ;section Q, T-6-D}, R-9-E as recorviended by Llre Plaruiing Corunission
Ue approved and the Bill of Assurance as follows;
se,.
Vv
DILL oL, Assu ~~I,}cE
1.I;(tiJ ALL i!EI? RY T_'t,;;'SE Y;t1=:iGI1T.`i:
That yyallace E. Johnson, Inc., a corporation; Crittenden ~)evelopment Cornparrr, loc.,
a corporation; ilonald J. Lavrrie, 't'rustee; a.nd 1I. U. Dickey, collectively hold the
title to all the followin; described lands situated in the County of Crittenden,
State of Arkansas, to-grit:
Bet~innirrg at the intersection of the Plorth-
South half section line of Section fi, T6N,
R9E, ',sith the North bank of Ten-P:[il.e Bayou;
thence East along; the North bank of 'len-l,iile
Bayou to a point fifty feet Bast of the afore-
said North-South half section line of said.
Section f~; thence Ilorth parallel with the
Dlorth-3outh half' section line to the PZorth line
of Goodwin ,~,vemue; thence Northwesterly alonC=
the I~Iortit line :.f Goodrdn ,vvenue to the last
:Lino of loth street i;eirr~; a r:oint fifty feet
East of the ,,est line of the last half of the
•~_at Lia1F of said Section u, Tovrnship 6i~;orth,
Range 9 Lust; thence due '6~est to the guest line
of lutir Street, being a 1~oint fift;,;' feet ',rest
of the iuest line of the 1;ast half of the Best
hall of said t;ection ~ T62d, R9E; thence South
parallel t~rith said y~~est line of the Iasi: half of
the ,';est half of said Section 3 (said best line
being the center lire of said loth Street), to
the I`orth cant<. of `Pen-1.!ile Bayou; tihence East
alon- t;Iie r_teanders of the North bank of 'Pen-1~!ile
)3ayou to the point of be;;inni.rg. The said ldth
Street and Gcodtvin ,venue referred to in the above
description are shewr~ on plat of V~7reeler Subdivision,
of record in record book 1, hares 264 and 2b5 in
tkre of~"ice of the Circuit Court Clerk of Crit~enden
County*, _1rkansas.
The grantor l0allace ~. Johnson Inc. has caused said lands to he surve;;•ed,
subdivided and laid out into lots, blocks, streets, alleys and play park. Said
subdivision has been named and shall henceforth be known and designated as
F::e:a~his '~'iev~r Subdivision, guest lrlerrphis, Arkansas. ;;aid subdivision contains
ten blocks designated one to ten, inclusive, and the grantors have executed a
plat showin.; the location of said block, and also tYte locations, widths and
narrtes of streets, alleys and play park. All streets, alleys and lot 1, block 9
designated l;l.ay park., and lot 25, bloc}: 10 of said subdivision are hereby
dedicated to the public fc;r its use arrd ber.°_'it forever.
;;aid plat is recorded. in L'lat 3ook Pa;;e of the recar•~ls of the
office of the Cler'.: of the ;;ircuit Court and '~.::-Offic:io -recorder in and for
Crittenden Cctznty, y:,r~.ansas.
As a part of this ^ill of ,",ssLSance cert~:in safet;uarcls arid. restrictions,
hereinafter referred to as ~~subdivision restrictions' are hereby placed on the
lots of said plat except as ot~~xt;ise not:d.
The subdivision restrictions herein'~elorr shall be applicable to all lots
shoti•m on tl~ie pl.a.t e:,cer~t Lot c3, Block 1; Lot 26, Bloc}s 5; and Lot 1, Bloch
(play park); and Lot 25, 31ock 10. As to said Lot 23, Block 1, and said Lct 26,
'~;lock 7, only the provisions of paragraphs 6, 7, £3, 10, 11, 12, 13 a.nd 14 of the
subdivision restrictions hereinl:eloty shall apply. As to Lot 1, Block 9 (play
park) onl;;r t,~e provisions of para;;raphs 6, 7, 10, 12, 13 and 14 hereirioelow shall
aF,ply, None of the subdivision restrictions 1~ereiribeloty shall apply to said
Lot 2 31oc1: 10.
hara~ral:~h 11 of sr~.id subdivision restrictions shall apply to no lots except
said Lot c3, k3lock 1, and said ].,ot, 26, Block ~.
~UBilNI~1CA? liY;.,T".t7:~.:TIGiiS
].. IL'tDrJ US't, l~?il 3tiIL1)Il?G 1'i'YE. All iot.s sh•.v~rn on the plat (excel,t those
excet!ted from t11i.s parahraph as provided above) slIall be l~.norm and descx•ioed as
residential. lots and no building; shall be erected, altered, placed or permitted
to relain on said lots other ttrcin one single-fa1:Ii_ly dvreilinz clot to e:~ceed two
and one hall stories in height, a.nd a priuat.~ garaf;e i'or not .,lore '~'.la.n tiro cars,
and one servants room.
2. JdiiLIlU 7GST, .,!J:~~ lTl ..i;J ~laE. 1?o ctt';e~ltn; '.;ail be .errlitteU on ::.n~~
lot at a cost or less than ;;even i'hcu~unu (~;r j,Ouu.OC) ;dollars LL~sed n~,on cost
levels prevailin; c:n the date these rcvenonta :rep recorded, it. be:ink; the :ini;^.ntion
and purpose o~ the covenant to assure that a1.1. d'~+cll.i.r~;s s'.;a~.7_ be cl u ~Iual_ity of
tiJOrlci.4inship and I:Ia~.~riazls stics~antiall~~ the same ci' be`,tcx t::ari tt:at 'c':,icll can be
produced orl i.,i,e date thc;se cov~.:r z;.nt8 acre recorded :.t tae rinir:il-ua cost .~ ~,.~ted herein
for ti'ie r:inimul:t perrlitted c~trellin~ sire. the around floor area o° t'le ;a~.in str~~.~-
ture, exclusive of one-story open porches and ~ar::.;_;e, ~l:all be rot less tir~sl 7;0
;r
scluar'e feet for a ol7c-story avreih_rg, not le_a t;~ian o~0 squc~.re feet for a dvrellin~;
of ..:ore than one story.
3. 1:OT A2P,.4 dT~ titlIJTII. T1o dt°relling shall be eracted or placed on any lot
in this tract having a tiridth of less than 60 feet at t'~e rninimwn buildit>G set-track
Line or an araa of less than 7200 square feet, excerrt that a dvaellin~ Wray be
erected or placed on Dots llt, 15 and i6, dock l; aot 13, block ?; lot 19,
~Paock 3; Lots 1, 2, and 6, block !~; lots 2, 1?_, 16, ~6 and 2f:, Mock 6; lots
l:j and 11i, ba.ocl: F~; lots 9, 10, ll, 12, 13, lla, 16 and 1J, block 9; and lots 3,
u, ~, 6 and 7, block 10, as sllolvn on this plat.
!a. Ylti :I,')I.?G I:UC ;TlOI'. No buildi.r.~ shawl. i;e located on any lot nearer to ti;e
front line titan 3U fact e_:ceNt on 1rl,~r "In ;ou7_evard ti;e set-`; ~ci; shall be `1 J feet:,
or nearer ti,sn 3u-sect to arttr side street line e.;:ceut t,}r~a dots 1 and 21G, blocLc 2,
are not to ;e nearor tYlan 20 feet. IIo building shall. be erect ad nearer than 5 feet
to any interior lot lane. t?o dti"vel'lin~ slIal.l be locatod on any interior lot nea~.rer
t':an - feet t4 tha r:_ar lot lire. ~'or t;e ,url;oscs os this covenant, c..ves, stops,
stoopsalld oven i~orcllos hail not be conai~.?ered u.. a pwr~t os ~ ~ntildirt~ and :aa~r
project c;c:~-ond bu.i.lcin„ Tres, ":;rovi:'.ed, 1,c.revc:r, that, ti;is si;all not be cort::trued
t0~;~;r'r:I1t +-iIl,~,.' 1%Ol'"lion O~ a IJU:Llding u.'! a lc't t0 eilCx'oaclt t'iy~011 an0ti:eY' lot.
' a:iai;:a. I?o si -r! of ~:, i:.iuu ~ rail b< d_s;;:Lai e:. to il:e puu7_ic view on anl-
.,
:Lot c.ccept onrr prof'esNiotlal siin o1 n ~ ::u-rc tl;<:r, cr~e ~;-lu~~:'c foot, o;:e i,n ol.' not
r.:or~ than ~ fec;t advex°ti~:i.n the pro!>crt;;- for male or malt, or sins i.t~e_l by a
builder to advertise tl:c l,ro,~:erty during the construction anal sales period.
6. G.'.R1~~~.;~ A' ,J 3ix'~ .~ ; DlS'O5.',L, nc lot s'.!nll be used or -:kailrtnined as a
dwn7rint tiroutld for rubbish. Trash, i;arbat;e or other ~rrtste sha.il riot be kept
except, in sanitary containers. ~,i1 incinerators or other e•:lui;invent for the stor4.ge
or di:rpoal of s~.tch ;nat.eria7_ sha7.1 'oe kept in a clean an.~ sanit~~Yy condition.
7. S1',?zT ilIS ~ ~ir'C 1 ~' .. i?'i'S, aS~~,CTIGN. ;do fence, ivali, hedl,e or shrub plarltin
v:hich obstz^;.cts si;-ht lines at elections betlreen 2 and 6 feet above the roaidv:a.~rs
sl:ill. '.':e placed or permitted to re,.:ain on e.iny ecrn~r lot. v~itklin tl:e triart~;ular
area fol~ned by the street propertlr 1_ines and aline conslcactin{= them at points
2~ feet from the int.crsection of the stre_t lines, or in file case of a rounded
proper"ty corner from the intersection of the street property lines extended. P'he
sa;ae si;ght-.Line limitations sL:al"1 apply on any lot ~ri.tl:in 10 feet from the
intersection of a street property Line vrit:h t.i;e ed e of 3 dirve-tray or alley
pave:uent. P?o troc;s shall be lu~ex~r.itted to remain tryithin such distance of sucYt
interscct.iors unless the foliage line is maintains-d at sa.tlficieni. ;:!ei~;ht to
p-reve:nt obstruction of such sight Line.
t~. ly1 i;l:"'1'S. l'~z•petual ease:':Iento for ins;,.~lla.tion or ,aintenance of
utilitic<: wad dr~aina~-e faci7_ities are reserved as s;;ovm on this pla=,; aryl over
the rear 3 feet of each lot.
~. 'i'1~: ~.t.'^,'aI uiaL'C'.',~~I;:i. I,o :rtructures cs a to::1,~~ore.Yy character, trailer,
base.: ent, tent, shad., f~rax r.~;e, b.z•n or o-~her out-bu 1 ainl, si:all bo used or. a.ny
lot at arr~* tune as a residence either temporarily or perl:tanentl_y.
1_
lU. i'RUT_;0^IVE SC:i~EI;IIIU ~'I~'t. Prot,:ctive screenir!~ areas are established as
slrowrr on this plat, incluai ~.. Ci foot strip of land alonl; t::u rear and the side of
such portion of each lot that i.s adjacenb to Lot ^c3, Jloc}c 1, and Lot 26, i3loclc 5,
but said scre:enin~; sirail e.terrd only to the respective brxilciing set-tiaclc lines on
In,<rcun and Barton;;treot. Plan{;ing fences or vtalls shall he maintained throuh
the entire lenl;th of such area by tree owners oi' the lots at their own expense to
£orirn an effective screen for the r~rotection of the residential area. Ale building
or struct~-u•e except a screen fence or •wa!1 or utilities or drainae;e facilities shall
ue perruitted to rerr~sin in such area. P?o vehicular access oaer the areas slrai.l be
perms{,-fed except for fire purr:ose of installation ::nd maintenance of screenin=,
ut;i?ities and draina`;e i'aci 7.ities. Protective screeninf;; v;i tlr the s Prue reduire.rents
rand restrictions as specified i~ervinabove shall further be maintained bj* the ovmer
on a 6 foot strip as shorrsx on tine r>lat aloa>€ the ro;.r property line oi' Lot 1,
block 9 (play park) and said scr~:en:in€; shall extend only to the building set-back
lines on ItosemarRf Lane and I~1cAuley Drive.
Protective screening }rith the same r:;uirernerrts and -restrictions as specified
hereina',~ove sl!all furt~rer be r:raintained by the respective of°mers aloni; a 6 foot
str~_p as shovm on -the plat near tiro rear lot linos of ail lots backing; up to
Ten-L'Iil.e .,a~ou i,said strip to e;.cend in r.idth nortYr•!ardly 6 feet from approximately
tiro high tidatar marls on the north bank o=' Ten-Lille £sayou) w:i~~r said screerinx; to rxm
from ti:e ri_-i!i;-of-,!ajr of loth ~Lrf~et 'bo the rear line of lot 2,;, ;lock 10, and with
the G foot strip to ti~en corrtiniLe rritirin fire confines of Lot 2„ Pdortlr a7.ong the
rear .Lot line: and thenEast alorrE:; the Plortl: lot ]_i_ne of Lot 2~ of the ri~,ht-of-way
of =!:n~raru Boulevard.
11. The provisions of -this paragraph shall aLvly only to Lot 23, dock 1,
a'rcl Lot 20, ';loci: 5, ,.hici~ shall be l~no~.~n arcl used as coru.rercial property, except
as othc:rv~~iso provided in this I~~ar?.~•ra~h or elsesnc~;re in this bill of ~.Nsw•ance.
Ar~• cor;mrercial br:rilrlini=, on Lot 23, I31oc1: 1 end Lot 26, 31oc1: ~ shall be brick,
and not over ttive stories in height. Zne buildinU set-bacl: line £or Lot 23, 31ock 1,
and Lot 2n, Block , shall ire iai) f.cet w1 in_rra,a "t3oulevard and 3U f,=et on Barton
Avenue. Iio v;hisl~,,r stores shall be perruitted on said Lot 23, 31ock 1, and Lot 26,
Block 5. It is further provided, hovaevt~r, that nothing herein shall prevent tixe
use of Lot 23, ~loclc 1, anti Lot 26, 31ock !~, for residential development in lieu of
cormnercial use so long as Chc: covenants and restrictions as to residential develop-
ment herein provided are expressly complied r~ith and same is perruitted b,y the
uuest i~renrphis zuninY-~ ordinances.
12. TE1tI;f. These covenants are to run with the land and si;all be bindinrr on
all parties and all peaons claiming under tirer;r for a period of 25 years from the
date these covenants are recorded, after vrhi.ch time said covenants shall be
automatica~.ly extended for successive period of lu years unless an instrument
signed by a rnaxjority o1 the then owners of tt,e lots has Leon recorded, a,;reeing
to chance said covenants in whole or in part.
13. ld~?FURC?;L:EPJT. Enforcer,!errt, shall be uy proceedings at law or in equity
a~•ainst anj~ person or persons violatiry; or attempting; to viclate any covenants
either to restrain violation or to recover clama~;es, and failure or neflect to
enforce an;• provision hereof slr.zll not constitute a waiver or operate as an
estoppel.
14. SL"~1L;;L'i31LI'1"1. Invalidation of cozy one of these covenants by jtiu{C„rent
or court, order sP!<.il in no rise affect arrj- of tyre other provisions vririch shall
remain in full force and e~'_'ect.
IiI 'rllTilEUS vl?~itE(.F the said uVallaee %~. Johnson Tnc., a corporation, and
Crittenden Developr,rent Corrrrany, inc., a corporation, h.ve causal thi s instrument
to be signed by their respec five presicient~a z.nd attes cod by their respective
secretaries and their cox1~orate seals to be affi;;ed, and the raid II. G. Diclcey
and Donald J. Lawrie, '1'rus!;ee; h.;.ve hereto set their hands on this daj* of
152.
GuALL'1CE E. JUIiPSCi1 II',iC.
BY
President
This corporation
has no
a~AL
SEA L
ATTEST:
Secre „ary
O1tITTEI~:DEId il),VGLUPLIH:NT CUlah'ANY, 1NC.
BY
Press ent
t't`P'i73~T
secretary
bI. G. D~.cI.ey
-r----;-----
J~~aT~' J. Las~rle, Trustee
;~s~,tr; ~s,E
The ;notion i•~as seconded by Mlderuran Powers, nd npon the n><:otter being caned to
vote, 'the follotiring voted;
?~;~e~ 131edsoe, BolLing;er, Finle;,~, costar, ~1ar'rson, 1.1<:nchester, 1 ewers, ftoy'rton.
Play; None.
P,iayor Fordyce advised that in pursuance to Resolution adopted on P.:a.rch ].ti, 1)~2,
requesting the '~.iest Plemphis Transports-tion Coriparry Lo a,~pear before said L"ouncil :for
a hearing on -their franchise; that a regist:;red letter tiuith return receipt had been
sent to said i;urrpany, and that the matter ~+as now before the Council for consideration.
Judge Yy. K. Ingram appeared before tPie Council behalf' of P.ir. 1•rarilc Yrheeler, rresident
of ~+es~t l.ierrphis Transportation Co,ni.~ar~r vrho r+as i1i, but had requested that the Council
appoint a coruaittee to investigate the routin{* of busses in the Cii~, and stated that
the Corn~amr would submit payment for amount due under Franchise to date. lifter
discussion of the matter, motion Baas made by tildercran uarrison and seconded by
:il!lex^~r,an ~towton that tyre City continuo the hcarin@: unti'1 tine next rleetinz; of the Council
provided that ail ariounts due ur>cler Franchise be received on ,~~ril 15, 192, from tP:e
',nest lies.:his 'iransi~~ortation Cwnr~s,ny. Upon C:he r;rater being called to vote, the follo~;ring
voted;
r1y e: Bledsoe, !;ollinF_,er, Firrie;;~, Foster, Ccrrrison, l.:anchester, Y~orrers, Powton.
P;a;,r; Lone.
Tire Brxildin Inspector presented the following bail;ling permits he had
authorized to be issued, motion ~~as made, passed and adopted to confirm the actions
of the Building inspector in tl',e issuance of the follo•~rinh permits:
Sallie Randolph
P1o~_ly Larry
City l,;otor males
Tars. Li:Llian L. ~hotsvrel.l
D. R. ;dhite
Bernard high
i. li. Roberts
lsrnest FJesson
;ara Crump
F. ~. Lenson
12. fi. f eters
G. F. Pia,;;uirter
uliver A. ;;chaetz
Chickasa Lrtiaber Co.
;;gins rannison
Jessie Fitzgerald
DIo further business appc~:rint; before the Council, motion •~,as made by Aldernuin
Bollinger and seconded by Alder:aan r'inley to adjourn the ~.eeting. Uiron the natter
being, called to vote, the follo~rring voted;
Ayes Bledsoe, I;ollir>E^,er, Finley, ;'aster, ~:=arrison, -!c,nclrester, Lowers, itotirton.
Nay: gone.
G%i% L~p~
Q~
P YOR
A'1"'_' i~:iT
4W,~ ~Ge1~---~.
L'ITY •CLl';13K
At'Yi2U~JliD:
61~
S 0 N D
ii?•1G4V !~f :L i;IliDl BY TiI~'SD PR;dLliTd:
'That we, ''+Yallace E. Johnson, Inc., a Tennessee corporation domesticated to do
business within the State of Arkansas, as Principal, and u'dallace E. Johnson & Alma
E. Johnson , as Surety, do acknorvled~e ourselves indebted and firmly bound and
held unto the City of Brest s'•emphis, a municipality of the State of Arkansas, in the
sarn of One I{undyed Fifty Thousand and no/100 - - - -llollars, for the payment of
which well and truly to be made, in la:~ful money of the United States, we do hereby
hind ourselves, our successors, our a:~signs, heirs and personal representatives;
But the condition of the foregoing obligation or bond is this:
¢}b'Ett ~~fi5, the above named Principal has entered into a wr. itten agreement
dated April q, 1852, wi th the City of guest 1+!errphi s by vrYrich the City
agrees to construct and install a public.water system, within and i'vr
the purpose of providing said rtilities ready for use to the 27k lots
therein referred to, vritLin the !_'emphis View Subdivision, in the cor-
porate limits of the City of West h.Iemphis; and
d:~Lttir~.tS, the estimated cost of said utilities to the City of West ltiemphis
is Gne Htrrrdred Fi fty 'Pkrousand and no/100 - - - -Dollars, and i`Jest .femphis
is willing to incur said cost upon the basis of being reimbursed in full
therfor, less credits thereon to Principal as hereinafter set forth for
each harase constructed within said subdivision;
NOCV,TI~F;'RBF'Oit:E:, if the said Principal and surety shall promptly, fully and
.faithfully ppy the sum of One Hundred Fifty Thousand and no`l0O - - - -llollars
to the City of Nest =>[ernl>his at the ernl of the 2L; month period, next following the
initial insurance by the Federal Housing Administration of the Trro iG,illion Five
Hundred Sixty Three Thousand ts'i~ht Hundred and no/100 02,563,300.00) Dollar
i,~iort~age loan, which is the subject of the F!lA's cornrrritment for insurance under
F}';F. Project ido. 082-3ooo3-s, less as a credit upon, and as a reduction oi' the
said One Hundred Fifty Thvusand and no/100 Dollars obligation hereof, the follow-
ing amount:
EXHIBIT "C°
Four hurrdr•ed and. no/lU0 llollars for each and every of the first
one }~undred houses cornp:leted within the said idernphis View Sub-
divis~.on prior to the expiration of the said 24 months, and ready
for connection to said utilities;
Six hundred thirty-two and 19/100 i)o1 ars for each and every of
the 101st tJirourh 27Lrth houses canr~leted writhin the said Memphis
View Subdivision prior to the expiration of the said 2L~ month
period acrd ready for connection to said utilities; and
then th:i.s o'nli~ation and bond shall be null and void; otherwise to remain in full
force acrd effect.
It is the intent and purpose of this bo;:d that `:he One hundred fifty t_ousand
and no/lO0 Dollars principal amount hereof shall be reduced as irrunediately above set
forth, and that ucron completion of the said 271.( houses within the said 21a mohth period
within the said Pdetnphis rJiew Su.odivision, all obligations of both Principal and Surety
hc~eunder shall be extingt?ished a.nd canceled.
It is further expressly prov:i;led that the obligation of the surety hereon, as
this bond is fbr the reimbursement to the City of ~~dest i;Ier:rphis of its aforesaid costs,
shall not e::ceed the amounts actually expended by the City of ':~llest rvlernphis during the
said t?°aenty-four month p=xiod in the. construction and installation of the ai'o?°esaid
t?ublic vrater and electrical distribution systems.
lt, i~a fu°t.hs~.r expressly r;rovided that For the eight years next fo:Llowintr the end
of the said 2Li month period Prinril:~al acrd Surety shall. be entitled to credit for, or
ro repayme~rzt of, the aforesaid amounts p.r house, res;;ect,ively, as tv houses completed
after the e};piration of the 24 month period and witl~i.r. the eight years next following
the said 24 month period.
It .is hereby stipulated ar~d agreed that no changes, extensions of time, altera-
tions or addii;iona to the terms of the aforesaid written at--reement of April q, 1852,
between the Pr_.r,cil;al and the Ci+~,f of iJest 1.'~emlhis, or to the work to be perfexvred by
either party pursuant therPtc, shall in any vrise affect the obligation under this bond;
and notice is 17erei:y waived by the Surety of an;,~ such changes, aLtera±ions or additions
to the terms of the said a;r,;em-cot.
~~ld `r~lli'D~IEz55 .~'_f•REOF; the Principal and Surety have hereunto ai'fixed their signa-
tures b;,* a~rd thmu~~h their dul.;y authori_;^_d representat,:ives this 9th day of April, 1852.
I'rAL,L1ICE E. JCI~!1•'vY-Pr, IP?C.
A`1'TI'ST:
.___ ,. ~._ ,.. B~~r: '+Vala_ace 5~. Jvhason PrPS; r1Pnt,