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HomeMy WebLinkAbout1998-09-28 98-387 ORDERCOUNCIL ACTION Date: 8eDL ash fZ_ 26. 122E Ztem No. 98-387 Item/Subject: Authorizing the Sale of Lot l) in the BanAlr Industrial Park to Daniel Tandy and Stehni Berkey Responsible Department: Community & Economic Development Commendatory: See attached Memo �n far ent f�aaa nenager•e Comments: City Manager ' Associated Information I'WMP.8 Budget Approval: Finance Di.[ r Legal Approval: Introduced For Passage ❑ First Reading 0 Referral Y 98-387 Areignedb Cwntilor Tyler September 28. 1998 CITY OF BANGOR (➢TLE.) i®rDPr, .Auflunizingthe Sate_pfunnrn the Baa.ur Industrial Park _... at Dan l Tandy and Sterani Berkey By tins City Canned of Be Ciro of Raman.' ORDERED, TWT WHEREAS, Daniel Tandy and Stefan Bedcey wish to develop an office and warehouse facility; and WHEREAS, Daniel Tandy and Stefan Berkey have offered to purchase Lot 17 in the BanAir Industrial Park with an area of approxin ately.94 acres: NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT the City Manager is hereby authorized, on Nitalfof the City of Banat, to execute a purchase and sale agreement with Daniel Tandy and Stefan Behey, a copy of which is attached hereto, for the sale ofl.ot 17 in the BanAirladustrial. IN CITY COONCIL September 28. 1998 Notion to Amend by changing the "groes floor area of not less than 6.000 sq. ft. to 5.000 sq. ft. In the Contract for Sale of Real Estate Motion Seconded. Amendmentc <enx@tll Passed Passed (* Amen de � CITY ERK 98-38] ORDER Title. Authorizing the Sale of Lot O in the BanAir Industrial Park to Daniel Tandy and Breland Berkley ..........................��,,.�............ `d,R,,iRW.� W(, VV COWCildan BANAIRCORPORATION THE GROWING ADVANTAGE �TWcZMemoran pom Je To: Members of the City Council From: Stephen A. Bolduc, Executive Manager � Date: September 28, 1998 1SQ 3 ' Subject: Offer to Purchase Land in the BanAlr Industrial Park Issue Daniel Tandy and Stefan! Berkey have made an offer to purchase Lot 17 in the BanAlr Industrial Park on Outer Hammond St. for $22,700. f=Tid.T - , - Daniel Tandy and Stefan! Berkey, owners of the advertising specialists of main. inc., wish to construct a building on lot 17 for use as an office and warehouse for their specialty advertising business. The size of the building is still being determined. Initially a portion of the building may be leased to other businesses. They currently have eight employees and same clients such as, Bangor Hydro Electric Company, Bangor Gas Company and EMMC. The offer of $22,700 is the same as the asking price and is made contingent upon 1. Acceptance by the City prior to October 1, 1998. 2. Approval of a Land Development Permit and site plan approval by the Bangor Planning Board before November 30, 1998. 3. An environmental evaluation of the lots to be done by the Purchaser. Lot 17 is .94 acres with 150' of frontage on BanAir Rd. and 205' of frontage on BanAir Court. The BanAir Industrial Park is a Urban Industrial land use district, and therefore a building of up to 16,380 sq. ft. could potentially be developed on the lot. The City of Bangor is represented by Susan Brooker, Epstein Commercial Real Estate, who will receive a 5% commission upon closing of the sale. nwaww srxssr eM'coRx�6n1901 Paget 11W14faCu fde1995+wnfeM O7-MMn7,r=- Members of the BanA r Corporation Board of Directors recommend that the offer be accepted with the following terms and conditions: a. Site work and building improvements shall commence within one (1) year. Sufficient evidence of proceeding wgh the "building improvements' is an approved Land Development Permit issuance of a Building Construction Permit and initiation of construction of the building. b. Site work and building improvements shall be completed within two (2) years. c. The building shall have a gross Boor area of not less than 8,000 sq. ft. d. The area within the front setback must be landscaped and planted with trees and shrubs as follows: plant units per 100 ft.: one (1) shrub, one (1) evergreen tree, and one (1) deciduous tree. e. The sale is contingent upon approval of a Land Development Permit and site plan approval by the Bangor Planning Board before November 30, 1998. Pap 98-38] CONTRACT FOR SALE OF REAL ESTATE The undersigned Daniel Tandy and Stefani Berkey (BUYERS) of Bangor, Maine hereby offer to purchase from the City of Bangor (SELLER) the real estate in its present physical condition with all improvements thereon, located at Lot 17 in BanAir Industrial Park, City of Bangor, County of Penobscot, State of Maine, and generally described as follows: Lot No. 17 in BanAir Industrial Park, so-called, as depicted in a plan dated October 20, 1993, titled "Final Subdivision Plan of BanAlr Industrial Parc- Phase I Revision" and recorded in File No. D28-94, Penobscot County Registry of Deeds. Purchase price is $22,700. $1,000 is the DEPOSIT in U.S. Dollars paid to Epstein Commercial Real Estate who will hold said deposit and act as escrow agent until the closing. The balance of the purchase price is to be paid in full at closing as follows: CASH AT CLOSING. THE DEPOSIT IS HELD EXPRESSLY SUBJECT TO THE FOLLOWING CONDITIONS: 1. SETTLEMENTTTITLE: It is agreed that this transaction shall be closed and the Buyers shall pay the balance due and execute all papers necessary for the completion of the purchase on or before 4:30 P.M. November 30, 1998, unless otherwise agreed to, in writing, by both parties. A quHdaim dead conveying goad and merchantable title, free and clear of all encumbrances, except normal public utilities, building and zoning restrictions of record, and restrictive covenants of record shall be delivered to the Buyers or nominee at closing. If the Seller shall be unable to convey or deliver possession in accordance with the provisions of this Contract, or make the premises conform with the provisions hereunder, then the Seller shall have a reasonable time period, not to exceed 30 days, to cure any title defect, unless otherwise agreed by both padies in writing. The Seller hereby agrees to use diligent efforts to cure any such title defect during such period or make the promises Conform, whichever applies. 2. SETTLEMENT COSTS. Seller shall pay for the preparation of the deed and declaration of value, together with the preparation and recording fees for the removal of any encumbrances against the property. All other expenses and costs of document preparation, title examination, title opinions, and the this insurance shall be borne by Me Buyers. The State of Maine Transfer Tax shall be paid by both the Buyers and Seller, as provided by law. M CogmcfFw Saleof Real Estate Seller CMnfBangor Buyers: Danlal Tandy and Sleleni Beady Sereemhar23, 1988 The following items shall be prorated as of the data of closing: NONE The security deposit in the amount of $1,000 shall be transferred to the Buyers at closing. 3. POSSESSION: Seller shall deliver to Buyers possession of said premises immediately upon transfer, free of all tenants and occupants, and without incurring rent or fees. The premises shall be than in substantially the same condition as at present. Buyers shall have the option to inspect the property prior to closing. The risk of loss or damage to said premises until closing is upon the Seller. 4. DEFAULT: If the Buyers fail to make any payments or to perform any of the agreements on their part made or entered into, this Contract shall, at the option of the Seller be terminated, and the Buyers shall forfeit said earnest money deposit as liquidated damages or Seller may enforce all legal and equitable remedies. S. BUYER'S CONDITIONS: Following are conditions to the Buyers' obligation to acquire the Property: A. Seller shall have until 5:00 pm on October 1, 1998 to accept the offer; R Me Seller has not accepted the offer by such time, said deposit shall be returned promptly to the Buyers. Epstein Commercial Real Estate will hold said deposit and act as escrow agent until Me closing. B. The Buyers' obligation hereunder is subject to and conditioned upon the Buyers receiving a Land Development Permit and Site Plan approval from the City of Bangor on or before November 30, 1998. If the Buyers do not receive said Permits by November 30, 1998, then the Buyers may terminate this Agreement, the deposit shall be returned to the Buyers and both parties shall be released from their respective obligation hereunder. R the Buyersdo not so elect to terminate this Agreement by notice in writing to Seller by November 30, 1998, then this condition shall be dammed to have been satisfied. C. The Buyersobligation hereunder is subject to and conditioned upon the Buyers' environmental evaluation of the Premises no later than 30 days from the date of the full execution of this contract, which evaluation shall indicate that there are no significant environmental defects with the property. Said evaluation shall be at the Buys& sole cost and expense. If said evaluation shall indicate significant environmental defects wRh the property, then the Buyers may terminate this Agreement, the deposit shall be returned to the Buyers and both parties shall be released from their respective obligation hereunder. If the Buyers do not so elect to terminate this Agreement by notice in writing to Seller before the expiration of DATE'. SELLERS) INITALS: BUYER(S) INITIALS:_ Page 2 of 4 Coned For Sale of Real Es m e Seller. City ofBangor Buyers: Daniel Tandy and Stefndi Berkey Seprem6er23, 1998 said 30 day period, then this condition shall be deemed to have been satisfied. 6. OTHER CONDITIONS: A. Site work and building improvements shall commence within one(1)year of the data of closing. Sufficient evidence of proceeding with the"building improvements" is an approved Land Development Permit, issuance of a Building Construction Permit and initiation of construction of the building. B. Site work and building improvements shall be completed within two (2) years of the date of closing. C. The building shall have a gross floor area of not less than 6,000 sq. ft. D. The area within the from setback must be landscaped and planted with trees and shrubs as follows: plant units per 100 ft.: one (1) shrub, one (1) evergreen tree, and one (1) deciduous free. 7. AUTHORITY: The Buyers and Seller each warrant and represent that the undersigned has full power and authority to execute and deliver this contract and to perform the obligations. 8. MEDIATION: Any dispute or claim arising out of or relating to this contract or the property addressed in this contract shall be submitted to mediation in accordance with the Maine Residential Real Estate Mediation Rules of the American Arbitration Association. This clause shall survive the closing of this transaction. 9. AGENCY: The Buyers acknowledge that they have been informed by Epstein Commercial Real Estate that Epstein Commercial Real Estate is acting solely as the Seller's AGENT in this transaction and that Epstein Commercial Real Estate makes no warranties of any kind regarding the condition, permitted use, or value of Sellers real or personal property. 10. Seller Disclosure: The Buyers acknowledge that attached hereto and made a part hereof is a copy of the Property Disclosure Statement for the Premises that was provided to the Buyers prior to or during the preparation of this Contract. The Buyers acknowledge that in entering into this tmnsacion they have not relied upon any warranties or representations not set forth or incorporated in this Contact. THIS CONTRACT is binding upon the parties hereto, and their respective heirs, personal representatives, successors and assigns. If this CONTRACT is not fully DATE' SELLER(S) INITIALS: BUYERS) INITIALS Page 3 of 4 I ContractFw Sellleerr, Cttyo/Bwiengior or Real 9w Buyers Nast Tantly wte rnberSaftani Berkey September Z8, 1998 understood, the parties should consult an ATTORNEY. This Contract constdutes the entire agreement between the parties hereto, there are no promises or verbal understandings not clearly specified in f. The use of the singular includes the plural and the use of any gender includes the other. BY THEIR SIGNATURES HERETO RECEIPT OF A COPY OF THIS CONTRACT IS ACKNOWLEDGED BY ALL PARTIES. Buyers, having inspected the property and its appurtenances, hereby offer and agree to purchase the property at the price and upon the terms and conditions set forth. Dated this day of 1998 at Maine. Daniel Tandy and Stefan! Berkey (Witness) CITY OF BANGOR By: (Witness) Edward A. Barrett City Manager DATE'. SELLER(S) INITIALS: BUYER(S) INITIALS:_ Page 4 of 4