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HomeMy WebLinkAbout1997-04-28 97-204 ORDERCOUNCIL ACTION Item No. 97-204 Date Agril 28 1997 Item/Subject: Authorizing Execution of Municipal Quitclaim Deed I - Real Estate Located at 236 Husson Avenue (Land) Responsible Department: Legal Department In connection with a foreclosure action by Federal National Mortgage Association, it was discovered that the City of Bangor incorrectly assessed common elements (open space, etc.) in the Morningside Condominium project, 238 Husson Avenue, against the project developer, Property Investments, Inc., for tax years 1994, 1996 and 1997. Under Maine law, the common elements in a condominium project are taxed oro lata to the owners of individual units in the project, once any reserved rights of the project developer have expired. Property Investment, Inc.'s reserved rights in the Morningside Condominium common elements expired in October, 1992. (COnt'd On next page) I City S Manager Department Head PU Manager's Comments: City S Manager Associated Information: Order, Deed Finance Director Legal Approval: CityClty S Introduced For 99116BNR-deeNBA- Passage First Reading Referral Page 1 of 4 9I-204 Resigned b Cowcilm Sullivan April 28, 1997 CITY OF BANGOR Authorizing Execution of Municipal Quitclaim Deed (TITW oorr . ........ .. . _._. ......... _._.__ ......... -- Real Estate Located at 238 Husson Avenue (Land) By Qtg Cannel of Qq'nfBan . ORDM ne THAT 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 238 Hasson Avenue (land) in said Bangor by virtue of a matured real estate tax lien for fiscal year 1994 recorded in Book 5662, Page 40, Penobscot Registry of Deeds. Said deed shall be directed to Property Investments, Inc., its successors and assigns. Statement of Pact This Order authorizes a release of any interests of the City of Bangor in the common elements of the Morningside Condominium project, 238 Hasson Avenue, arising by virtue of the FY 1994 tax lien recorded in Book 5562, Page 40, Penobcsot Registry of Deeds. The c elements of the project were Improperly assessed to the project developer, rather than individual unit owners, for the year concerned. IN CITY COUNCIL April 28, 1997 Passed CI ub 97-206 ORDER Title, Authorizing Execution of Municipal Quitclaim need - Real. Estate Located at 238 8unson Avenue (Land) Auigned to - CQaQwo..wa......... Councilman 9)-204 I ICIPAL QUITCLAIM DEED The CITY OF HANGAR, a municipal corporation, located is Bangor, Penobscot County, Maine, as Grantor, for consideration paid, releases to PROPERTY INVESTMENTS, INC., as Grantee, of Bangor, Penobscot County, Maine, the property located in said Bangor and more particularly described as follows: Real estate located at 238 Husson Avenue in said Bangor and further described in volume 3597, Page 127, Penobscot Registry of Deeds. This property is further designated as City of Bangor real estate tax account number 85929. Being the same premises acquired by said City of Bangor (by Sohn Quartararo, Collector of Taxes) for unpaid taxes assessed for tax year 1994 by virtue of an undischarged tax lien recorded i the Penobscot Registry of Deeds in Volume 5662, Page 40. The purpose of this deed is to release to the Grantee any interest the Grantor may have in the above-described property by virtue of unpaid taxes assessed for tax year 1994. All public easements or other public interests in the described premises for roads, Sewers, or other purposes are expressly reserved. The said CITY OF BANGOR has caused this instrument to be sealed with its corporate seal, and signed in its corporate name by RONALD I. HELLER, Finance Director, thereunto duly authorised, this day of April, 1997. SIGNED, SEALED AND DELIVERED IN THE PRESENCE OF CITY OF BANGOR By Witness Ronald I. Heller Finance Director STATE OF MAINE PENOBSCOT, as. April _,199] Then personally appeared the above-named RONALD I. HELLER, 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, Notary Public/Attorney-at-Law Printed Name: 9]-204 This order, at the Cagiest of Federal National Mortgage Association, would release all interests of the City of Bangor arising out of the City's FY 1994 tax lien, so as to clear title on a unit in the project currently being foreclosed.