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HomeMy WebLinkAbout1998-07-13 98-276 RESOLVECOUNCIL ACTION Item No. 98-276 Date duly 13 1998 Item/Subject: Ratifying Execution and Delivery of Municipal Quitclaim Deed -- Real Estate Located at 120 Hudson Road Responsible Department: Legal A municipal tax lien against property located at 120 Hudson Road, for BY 1996 taxes, matured on December 5, 1997. However, the holder of a first mortgage on the property, Bangor Savings Bank, did not receive notice of the original lien filing. In this circumstance, 36 MRSA 3 943 gives the mortgage holder the right to redeem the property by paying the taxes concerned within 90 days from the date of actual notice to the mortgage holder. Under this provision, Bangor Savings Bank paid the FY 1996 taxes, lien charges and interest on May 12, 1998. FY 1997 and FY 1998 taxes remain unpaid. Under 5 943, the City is required to release the property to the mortgage holder. A quitclaim deed was issued by the City on June 26th, to facilitate a scheduled real estate closing. This resolve would ratify the Finance Director's execution and delivery of the City's quitclaim deed. (/®i L{MM11 Department Head W City Manager Associated Information: Resolve, Deed Budget Approval: Finance Director U � City Solicitor Introduced For Consent Agenda X Passage First Reading Referral Page 1 of 3 Assigned to Councilor Rohnan 98-278 July 13. 1998 _ CITY OF BANGOR (TITLE,) �601t14 Ratifying Execution and Delivery of Municipal Qu tcl a im., Deed-_._Rea 1E ga t npe _ Lot ate at_120 Bids On Rodd By the City Council of W City of Danger: MR)LV&D. THAT the actions of the City Finance Director and City Solicitor i n ecutiand delivering a municipal quitclaim deed, releasing tax title to property located at 120 Hudson Road to Bangor Savings Bank 1s hereby ratified and confirmed. A copy of the deed is attached to this Resolve and is incorporated herein by reference. IN CITY COUNCIL July 13. 1998 Passed 98-276 RESOLVE Ra[££vina Execution and Oelivery of Municipal D � laimee D -.Real Estate Located at jRf�9udSOn Roadd 98-276 MUNICIPAL OUITCLAIM DEED The CITY OF BANGOR, a body corporate, located in Bangor, Penobscot County, Maine, for consideration paid, releases to BANGOR SAVINGS BANK, a banking corporation having its principal place of business in Bangor, Maine, the land in Bangor, Penobscot County State of Maine, more particularly described as follows: Real estate located at 120 Hudson Road in said Bangor, as described in Book 2173, Page 218, Penobscot Registry of Deeds. The purpose of this deed is to release all right, title and interest in and to the above-described premises arising by virtue of unpaid real estate taxes assessed for municipal fiscal year 1996, as reflected in a tax lien certificate recorded in the Penobscot Registry of Deeds In Book 6119, Page 87. All municipal rights in the above-described premises for roads, utilities and other public purposes, and all rights arising by virtue of subsequent Year tax liens, are expressly retained. Bangor Savings Bank, grantee of this instrument, is the mortgagee of the prior property owner, Lawrence E. Merrill. This deed is given by the City of Bangor pursuant to the grantee's exercise of the mortgagee's statutory redemption rights under 36 MRSA 4 993. The said CITY OF BANGOR has caused this instrument to be Baled with its corporate seal, and signed in its corporate name by RONA �. HILLER, Finance Director, thereunto duly authorized, I his �_ day of June, 1998. Signed, Sealed and Delivered In the Presence of CITY OF BANGOR &Ao tl.UnKt BY Witness Ronald i. He Finance Director STATE OF MAINE PENOBSCOT, as. June Z57, 1998 Then personally appeared the above-named RONALD I. HILLER, Finance Director, and acknowledged the foregoing instrument to be his free act and deed in his said capacity, and the free act and deed of said body corporate. Before me, ^y ^'� ty�I l^•,� Meta t -at-Law Printed Name: Cpjt M. sUM, k1