HomeMy WebLinkAboutO-893ORDINANCE NO. �q3
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FAIRHOPE,
ALABAMA, AS FOLLOWS:
Section 1. It is hereby established and declared that the
following described real property of the City of Fairhope,
Alabama, is no longer needed for public or municipal purposes;
to -wit:
The St. James Episcopal Church property, St. James Street, Fairhope, AL.
PARCEL ONE. From a point on the Southeast corner of Fairhope and Bayview
Avenues, run Southerly along the east side of Bayview Avenue, a distance
of 414 ft, more or less, to its intersection with the North line of Saint
James Avenue; thence run North 89057'44" East along said North line of Saint
James Avenue, a distance of 240.02 ft for the Point of Beginning; thence
run North 00°09'36" West, a distance of 128.51 ft to an iron pin; thence
run South 88°21'27" West along a chain link fence, a distance of 49.86 ft
to a railroad spike; thence run South 89049'35" West along said fence, a
distance of 49.95 ft; thence run South 01°07'23" West along said fence, a
distance of 16.63 ft to an iron pin; thence run North 87°03'24" West along
said fence, a distance of 17.23 ft; thence run North 00°29'02" West, a
distance of 78.61 ft to an iron pipe; thence run North 89057'38" East, a
distance of 594.02 ft to an iron pin on the West line of Summit Street;
thence run South 00°02'30" East along said West line of Summit Street, a
distance of 189.02 ft to an iron pin being the intersection of the North
line of St James Avenue, and the West line of Summit Street; thence run
South 89°57'44" West along the North line of St James Avenue, a distance
of 353.80 ft to the Point of Beginning. Said parcel of land contains 1.71
acres, more or less, and lies within the corporate limits of the City of
Fairhope, Alabama.
PARCEL TWO. The improvements and leasehold interest located at the South
1/4 of the East 1/2 of Lot 5 and the South 1/4 of Lot 6 except the North
8 ft in which a joint and equal interest as an alley is held with Lessee
to the West 1/2 of said Lot 5, Block 10, Division One of the land of Lessor
in the City of Fairhope, Alabama, as per its plat thereof filed for record
September 13, 1911 and Council Action of December 20, 1920, Fractional
Section 18, T6S, R2E, Baldwin County, Alabama, said improvements and
leasehold interest being on the land of the Fairhope Single Tax Colony.
Section 2. The City of Fairhope, Alabama, having received an
offer from THE UNIVERSITY OF SOUTH ALABAMA, a public body corporate,
to lease and purchase that real property described in Section
1, above, it is hereby declared to be in the best interest of
the public and the City of Fairhope, Alabama, to lease and
sell said real property to THE UNIVERSITY OF SOUTH ALABAMA
under the following terms and conditions, to -wit:
Property to be used only as an educational institution and in accordance
with the uses normally incident thereto and f r no other purpose, for the
term of FIVE (5) YEARS commencing on the 15tR day of May, 1992, for the
minimum annual rental of $25,000.00 per year with an initial rental payment
being due and payable at the commencement of the lease in the amount of
$100,000.00. The annual rent shall be payable on the one year lease
anniversary and yearly thereafter on said date. The total rent to be paid
over the term of the lease is $225,000.00. CONTRACT OF SALE: Both parties
agree that the purchase price for said property shall be 225,000.00, and
that the payments made pursuant to the Lease Agreement shall be credited
against the purchase price and the payments required in the Contract of
Sale.
2, Ord No 893
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Section 3. Pursuant to the authority granted by Section 11-47-
21 of the Alabama Code of 1975, the Mayor of the City of
Fairhope, Alabama, is hereby directed to execute a Lease
Agreement and a Contract of Sale with The University of South
Alabama, for the City of Fairhope, Alabama, according to the
terms set out in Section 2, above, and he is hereby authorized
to execute said Lease Agreement and Contract of Sale in the
name of the City of Fairhope,Alabama.
Section 4. This ordinance shall become effective immediately
upon its adoption and publication as required by law.
ADOPTED AND APPROVED THIS DAY OF , 1992.
Jam s P. Nix, Mayor
Attest
City CMerk
Ord No 893, page 2