HomeMy WebLinkAbout1998-09-14 98-372 ORDERCOUNCIL ACTION
Date: September 14 1998
Item No. 98-372
Item/subleat: Authorizing Acquisition of Property at 178 Harlow Street -
Former 6eMerHouses Property
Responsible Departmnt: community L economic Development
Commentary: This Order would authorize the purchase of the former Better Homes
property at 178 Harlow Street for $98,000, the appraised value. The property would
be purchased for the purpose of providing additional land for the expansion of the
Abbott Square parking lot. The expansion will create approximately 50 additional
parking spaces in this high demand parking area
across from the Bangor Public
Library. Funding for the acquisition of property and expansion of the parking lot
is provided for by the passage of Council Order 98-309, Authorizing The Issuance of
up to $4,000,400 Aggregate Principal Amount of General Obligation Bonds and/or Notes
n Anticipation Thereof and a Tax Levy Therefor , on August 10, 1998.
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Deptiertnent Hand
Manager's Comments _ f�
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Ci [y Manager
Associated Information
Budget Approval:
Finance Director
Legal Approval:
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Ct [y SO ict [or
Introduced For 1"aaeage O First Reading ❑ Referral
Page�ofy
A ped to Counmor Tyler September 16, 1998
CITY OF BANGOR
(TITLE l (DTllgr, AuWorizmg Acquismon of property at 178 Harlow Street
Former Better Homes
By Cita CwmeJ of City ojBanoor.
ORDEREDO
TnT the Chy Menagerie Mmbyauthoriwdtoenterintoapurcha Sale Agmer w,
a copy of wNch is attaeh l herem, and in a foal form approved by the City Solicitor or Assistant
City Solicitor, providing for the pumlo re of the property at 178 Harlow Street from George L.
Tsoulas for the amoM of Ninety -Eight Thousand Dollars.
IN CITY COUNCIL
September 16, 1998
Passed
8RK
98-3]2
ORDER
Title, Authorizing Acquisition of
Property at 178 Harlow Street -
former Better Homes Property
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a- I
Assigned to to
........ ...............
000 Coumilman
98-3)2
CONTRACT FOR SALE OF REAL ESTATE
The undersigned City of Bangor (Buyer) a municipal corporation in Bangor, Penobscot County,
Maine hereby offers to purchase and George Tsoulas (Seller) of Bangor, Penobscot County,
Maine bereby agrees to sell the real mate with all improvements thereom located in Bangor,
County of Penobscot, State of Maine, more particularly described in Exhibit A attached boom.
I. Purchase Price
The purchase price Is ninety-eight thousand dollars ($98,000.00)
2. SETTLEMENTITTfLE: It is agreed that this transaction shell be closed and the Buyer(s)
shall pay the balance due and execute all ppaapers necessary for the completion of the purchase on
or before 4:30 P.M. October 15,1998, turas otherwise agreed to, is writing, by hath parties. A
warranty deed conveying good and merchantable title, free and clear of all encumbrances, except
normal public utilities, building and maing restrictions of record, and restrictive covenmts of
record shall be delivered to the Buyer at closing. Sella shall deliver to Buyer a title opinion to
said premises.
If the Sella shall be nimble to convey or deliver possession in accordance with the provisions of
this Contract, or make the Premises common with the provisions bereunder, then the Seller shall
have a reasonable time period, out to exceed 30 days m care any title defect, unless otherwise
agreed by both parties in writing. The Seller hereby agrees m use diligent efforts to cure any
such title defect during such period or make the Premises onfrrn, whichever applies.
3. SETTLEMENT COSTS. Seller shall pay for the preparation of the deed, declaration of
value, together with the preparation and recording fees for the removal of my encumbrances
against the property arW cases of title search, continuation of my existing abstract, title
examination, title ophdons, and title haumnce.
The State of Maine Transfer Tax shall be paid by both the Buyer and Seiler, as provided by law.
The following items shall be prora0.d as of the date of closing:
A. Real Estate Taxes (Based on tax year from July 1,199] to lune 30,1998)
4. POSSESSION: Seller shall deliver to Buyer possession of said Premises humedirmly upon
transfer, free of all tenants and occupants, and without incurring rent or foes. The premises shall
be than in substantially the same condition as ar present. Buyer shall have the option to impact
the property prior m closing The risk of loss or damage to said premises until closing is upon
the Sella.
5. DEFAULT: If the Buyer fails to make any payments or to Perform any of da agnamems on
his pan made or entered into, this Contractshall, a the option of the Seller be temdnated
THIS CONTRACT is binding upon the patties hereto, sued their respective heirs, personal
representatives, successors and assigns. If this CONTRACT is not fatly understood, parties
should consult an ATTORNEY. Tbis Contract constitutes the entire agreement between the
patties hereto, there see no promises or verbal understandings not clearly specified in it. 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.
Buyer, having inspected the property and its appmterances, hereby offers and agrees to purchase
the property at the price and upon the teems and conditions set forth.
98-3)2
Dated this day of 1998 at Maine.
CITY OF BANGOR
Witness Edward A. Barren
City Manager
The Seller hereby accepts the offer and agrees to deliver the property m the price and upon the
terms and conditions stood above.
Signed this day of 1998
Witness George Tsoulas
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