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HomeMy WebLinkAbout1999-03-10 99-113 ORDERCOUNCIL ACTION Item No. 99-113 Date March 10, 1999 Item/Subject: Order, Authorizing Execution of Municipal Quitclaim N( Deed -- Real Estate Located at 167 Center Street Responsible Department: Legal Manager On November 16, 1993 the City loaned $10,045.00 on property located at 167 Center Street, subject to a first mortgage by Peoples Heritage Bank. On July 6, 1998, Peoples Heritage Bank filed a Complaint for Foreclosure on the property. Judgment was entered for the Bank in October 1998. There are real estate tax liens on the property and in December 1998, one lien matured. The Bank had been sent a copy of Notice of Impending Foreclosure, but failed to pay the taxes. Therefore, the City obtained title. Peoples Heritage Bank has paid the outstanding sewer user fees and real estate taxes, and has agreed to pay the outstanding City loan at the closing following the foreclosure auction, currently scheduled for March 12, 1999. This Order provides for the execution and delivery of a municipal quitclaim deed at the Closing. Manager's Comments: � _^^ ^� nn N( City ro Manager Associated Information: qinF ance/irectb or Cityic itor Introduced For CONSENT AGENDA x Passage First Reading Referral Page 1 of 2 99-113 Assigned to Councilor 'Tyler March 10, 1999 CITY OF BANGOR (TITLE.) (Orter, Authorizing Execution of Municipal Quitclaim Deed -- Real Estate Located at 167 Center Street B9 W My of My ofBa . ORDRRRD, TWT Ronald I. Heller, Finance Director, is hereby authorized, on behalf of the City of Bangor, to execute a Municipal Quitclaim Deed releasing any interest the City may have in the real estate located at 169 Center Street in said Bangor by virtue of an undischarged real estate tax lien recorded for tax year 1996 in Book 6407, Page 346, Penobscot Registry of Deeds. Said deed shall be directed to the successful bidder at the foreclosure auction of 167 Center Street, successor in interest to Kenneth Jenkins and Nichols Jenkins, upon payment of all obligations due the City of Bangor including sewer user fees, real estate taxes and a loan from the City of Bangor regarding said property. Said deed shall be executed within sixty (60) days of passage of this Order. IN CITY MYNCIL March 10. 1999 Eaasea C 99-113 0 R D E R Title, Autivriring Execution of Municipal Qufcelain Deed - Heal Estate located at to/ Cenrer Street Councilman