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HomeMy WebLinkAboutOrdinances Book 12, Page 628, No Ordinance Number62V AN ORDINANCE, PROVIDING FOR THE EXECUTION OF A DEED BY THE CITY OF PADUCAH, KENTUCKY, TO PROPERTY LOCATED ON THE PADUCAH-LONE OAK ROAD SITUATED NEAR THE WATER RESERVIOR, AND PROVIDING THAT SAID DEED BE HELD IN TRUST BY THE CITIZENS SAVINGS BANK OF PADUCAH, KENTUCKY ACCORDING TO THE TERMS AND CONDITIONS OF AN ESCROW AGREEMENT; PROVIDING THAT THE CONVEYANCE OF SAID PROPERTY IS TO BE FOi THE USE AND BENEFIT OF THE PADUCAH WATER WORKS AND PROVIDING THE TERMS AND CONDITIONS OF SAID CONVEYANCE THEREOF; AND AUTHORIZING ROBERT CHERRY, THE MAYOR, AP.D SARAH THUR14AN, THE CITY CLERK, TO EXECUTE SAID DEED OF CONVEYANCE AND ESCROW AGREE14ENT FOR AND ON BEHALF OF THE CITY OF.PADUCAH BE IT ORDAINED BY THL BOARD OF COMMISSIONERS OF THE CITY OF PADUCAH, KENTUCKY: SECTION 1. That the City of Paducah execute and deliver to the Citizens Savings Bank of Paducah, Kentucky, a deed of conveyance conveying all right, title and interest of said city in certain property consistin-- of two (2) tracts as hereinafter described, said deed of conveyance to be made to J. W. Pilley and J. H. Haralson, partners doing business under the firm name of Pilley- Haralson, Builders of Memphis, Tennessee, as grantee, and Robert Cherry, Mayor of the City of Paducah, anc Sarah Thurman, its Clerl, are hereby authorized and empowered, for and on behald of the said city, to execute and deliver to the aforesaid Escrow Agent, with covenant of special iearranty, and subject to any defects, encroachments or other state of fact which an accurate survey would disclose, two (2) certain lots or parcels of land lying and being in McCracken County, Kentucky, and described as follows, to -wit: TRACT NO. 1: Beginning at a concrete fence post where the eastern right-of-way line of the Paducah Water Works Reservoir Road would intersect the north line of a tract of ground owned by the Paducah Water Works; thence north 69 deg 17 min east 1040.92 feet to the northeast corner of the Paducah Water Worksproperty; thence south 26 deg 32 min east 7$3.6$ feet to the south east corner of the Paducah Water Works property; thence south 65 deg 3$ min west 1022.9 feet; thence at an interior angle of 93 deg 04 min in a northerly direction and along a line 95 feet at right angles from and parallel with the existing west curb of the Paducah Water Works Reservoir Road, if said curb were ex- tended, a distance of 850.59 feet to the point of beginning. TRACT NO. 2• Beginning at a concrete fence post at the north west corner of the tract above conveyed; thence in a southerly direction along the west line of the tract above conveyed a distance of 850.59 feet to the southwest corner of the tract above conveyed; thence in a westerly direction with an interior angle of 86 deg 50 min and along the south line of the Paducah Water Works property a distance of 95.14 feet; thence in a northerly direction at an interior angle of 93 deg 04 min and along a line 95 feet from and at right angles to the first fescribed line, said line being also the extension of the west curb of the Reservoir Road a distance of 837 feet; thence at an interior angle of 94 deg 41 min a distance of 95.32 feet to the point of beginning. ME SECTION 2. The said property to be conveyed by the City of Paducah as described in Section 1 herein is to be conveyed for the use and benefit of the Paducah Water Works and same is subject to the conditions of an agreement entered into on February 13, 1952, by and between the Paducah Water Works of Paducah, McCracken County, Kentucky, and J. W. Pilley and J. H. Haralsoh, partners doing business under the firm name of Pilley-Haralson, Builders of Memphis, Tennessee, a copy of said agreement having been received and filed and approved by the Board of Commissioners of the City of Paducah'. It is further agreed that the consideration for said conveyance is to be the sum of $19,610.00, and that the sum of $100.00 will be deposited by the said J. W. Pilley and J. H. Haralson with the Citizens Savings Bank of Paducah, Kentucky at the time . said'Escrow Agreement is executed by the parties thereto and received by said Escrow Agent. It is further provided that Robert Cherry, Mayor of the City of Paducah, is hereby authorized to execute said Escrow Agreement for and on behalf of the City of Paducah, providing that upon payment of the aforesaid purchase price to said Escrow Agent and upon the receipt, for and on behalf of the City of Paducah, of a deed of conveyance from said J. W. Pilley and J. H. Haralson to that part of the property described in Section 1 herein as Tract No. 2 for use and dedication as a street or public way, then and in that event the Escrow Agent -is tp deliver to said J. W. Pilley and J. H. Haralson the deed to the property as described in Section 1 herein. The Escrow Agreement shall be for a period of sixty (60) days from the date said agreement is executed and unless the term thereof is extended by ordinance for an additional period, said agreement is to terminate at the expiration of said sixty (60) days and said deed will be returned to the City of Paducah and this agreement will be null and void. SECTIONS This ordinance shall be ih fu 11 force and effect from and after its adoption/ / I a yds o Tem —Troy W�., lark, Commissioner i Passed by the Board of Commissioners February 19, 1952 Recorded by Sarah Thurman, City Clerk, February 19, 1952.