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HomeMy WebLinkAbout1995-09-27 95-424 ORDERCOUNCIL ACTION 95 424 Item No. Date 09-27- 1995 Item/Subject: Ratifying Release of Property at 112 Gilman Road (Lot No. 3, TAC/CO/SAC Gilman Plaza Subdivision)to Barney W. Silver. Responsible Department: Legal Commentary: In August, 1992, the City of Bangor acquired a security interest in Lot No. 3 of the JAC/CO/SAC Gilman Plaza subdivision, to secure completion required public improvements in the subdivision. Our security interest took the form of a recorded 'Subdivision Improvement Guarantee Agreement- and a warranty deed from Carl H. Snow, Jr., then owner of Lot No. 3. The warranty dead was held in escrow. At the same time, the City received a personal performance bond in the amount of $15,000.00 from Lou Silver, Inc., Nr. Snow's contractor, as additional security for the completion of the required public improvements. The completion dates specified in the Subdivision improvement Guarantee Agreement and Lou Silver Inc.'s bond were not met. The (con't on next sheet) 27A A NMl Department Head YU Manager's Comments: w&e /'ckl?J City Manager Associated Information: Council Order,Quitclaim Deed Budget Approval: Finance Director Legal Approval: City Sc icitor Introduced For X Passage First Reading Referral Page _ of 95-424 City subsequently declared a default of the bond and retained $15,000.00 from funds due to Lou Silver, Inc. under a City construction contract on Fire Station Mo. S. By Council Order 94-146 passed March 28, 1994, the City Council further directed the City Solicitor to record the City's escrow deed to Lot No. 3 and directed the Purchasing Officer and City Manager to negotiate a private sale of Lot No. 3, with the purchase price to include completion of the required public improvements in the subdivision. In May 1994, Barney W. Silver, President and chief shareholder of Lou Silver, Inc., acquired Carl Snow's interest in the Gilman Plaza subdivision, specifically Lot No. 4 and Mr. Snow's interest, if any. in Lot No. 3. By an exchange of correspondence, under the authority of Council Order 94-146, the City Manager and City staff subsequently agreed to release the City's interest in Lot No. 3 to Mr. Silver and to refund Lou Silver, Inc.'s $15,000.00 upon Mr. Silver's completion of the required public improvements. A deadline of July 1, 1995 was established. Although diverted by other work, including several City sewer projects, Mr. Silver completed street, sever and other required improvements in the subdivision to the satisfaction of the City Engineer in June, 1995. Accordingly, the attached Council Order would ratify the City Manager's execution of a municipal quitclaim deed to Mr. Silver, and would further authorize the City Manager to reimburse Lou Silver, Inc. its $15,000.00 at the time the dead is delivered. 95-424 Aeeipped to Counaor Woodcock September 27, 1995 _NNpp CITY OF BANGOR (TITLE.) anrbtrt ........ Ratifying, Release of Property at 112 Gilman Road (Lot No. 3, TAC/CO/SAC Gilman Plaza Subdivision) to Barney W. Bu the Cps CaszR of #A C ty of Beeler., The action of City Manager on behalf of the City of Bangor, in executing aunicipal quitclaim deed releasing title to property located at 112 Gilman Road, being lot No. 3 in the JAC/CO/SAC Gilman Plaza Subdivision, to Barney W. Silver, is hereby ratified and confirmed. Upon delivery of the quitclaim deed, the City Manager is hereby authorized to refund to Barney W. Silver and/or Lou Silver Inc., without interest, the am of $15,000.00 currently held by the City of Bangor as partial security for the completion of public improvements in the JAC/C0/SAC Gilman Plaza subdivision, said improvements having been completed by Mr. Silver in June, 1995. IN CITY COUNCIL September 27, 1995 Passed CLEF 95-424 ORDER Title, Ratifying Release of Property at 112 Gilman Road (Lot No.3, JAC/CO/SAC Gilman Plaza Subdivision) to Barney H. Silver .. ..... .... ... ......... ... p � Migud to WC�JCGeK Councilman 95-424 MUNICIPAL OBITCLAIM DEED The CITY OF BANGOR, a municipal corporation organized and existing under and by virtue of the laws of the State of Maine, located in Bangor, Penobscot County, Maine, as Grantor, for consideration paid, releases to BARNEYW. SILVER, of Orono, Penobscot County, Maine, as Grantee, the land in Bangor, Penobscot County, Maine more particularly described as follows: Lot Number Three (3) as shown on Subdivision Plan for JAC/CO/SAC prepared by Plisga A Day, Land Surveyors, dated October 13, 1989, and recorded in Plan Book D-274, Page 90, as revised August 27, 1992, to which Revised Subdivision Plan and the record thereof reference is hereby made for further description of the premises hereby conveyed. Subject to all easements for drainage and other easements as shown on said Revised Subdivision Plan. The purposeof this deed is to release all right, title and interest of the City of Bangor in and to said Lot Number 3 arising by virtue of a 'Subdivision Improvement Guarantee Agreement" dated August 13, 1992 and recorded in Book 5142, Page 141, Penobscot Registry of Deeds; by virtue of Bangor City Council Order number 94-146 as recorded in Book 5598, Page 221, Penobscot Registry of Deeds; and by virtue of a Warranty Deed from Carl H. Snow, Jr. to the City of Bangor dated August 13, 1992 and recorded in Book 5598, Page 223, Penobscot Registry of Deeds. All other public rights in said Lot Number 3 for streets, sewer or other public purposes, o arising by virtue of unpaid real estate taxes, fees or assessments, are hereby 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 EDWARD A. BARRETT, City Manager, thereunto duly authorized, this day of , 1995. Signed and Sealed CITY OF BANGOR In the Presence of By Edward A. Barrett City Manager 95-424 STATE OF MAINE PENOBSCOT, 88. , 1995 Then personally appeared the above-named EDWARD A. BARNETT, City Manager, and acknowledged the foregoing instrument to be his free act and dead in his said capacity, and the free act and deed of said body corporate. Before me, Notary Public/Attorney-at-Law Printed Name: My Commission Expires: