HomeMy WebLinkAbout1992-01-13 92-92 ORDER9,4 - 9 -
Assigned toCounc9ar S✓39w ^s
CITY OF BANGOR
MILE.) !®rder, Ratifying Real Estate Option Agreement,and
Authorizing Payment of Option Price - Charles W. Sprague, Sr.
....--- ..__. ................. _.. _. _... _.. ........
Hit W Cfev CuaaeH of 04 of Basins:
THAT the Bangor :City Council hereby ratifies the 'Beal
Estate Option Agreement• between the City of Bangor and Charles
W. Sprague, Jr., dated December 19, 1991, a copy of which is
on file in the office of the City Clerk.
and be it further,
ORDERED,
THAT the Acting City Solicitor is hereby authorized to
release to Charles W. Sprague, Jr. the option fee provided
for in said Option Agreement.
I
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TITLE
In City Cowell January 13.1992 Ratifying Real Setae Option Agreement aId
Passed under suspension of the rales Authorizing Payment of Option Price
Charles W Sprague Jr.
it; Cie k
_ _C'14 CI
REAL ESTATE OPTION AGREEMENT
CHARLES W. SPRAGUE, JR., of 1702 Union Street, Bangor,
Penobscot County, Maine (hereinafter "OPTIONOR"), in Consideration
of Fifteen Thousant Dollars ($15,000.00), the receipt of which is
hereby acknowledged, hereby grants to the CITY OF BANGOR, a
municipal corporation organized and existing under the laws of the
State of Maine and having aprincipal place of business at Bangor,
Penobscot County, Maine (hereinafter 'BANGOR") an option to
purchase, upon the terms and conditions set forth below, the
following described property of the OPTIONOR located in Bangor, -
Penobscot County, Maine:
PROPERTY: A parcel of 13 acres, more Or less, to be
surveyed, consisting of a rectangular lot approximately
1712 feet by 330 feet off the southwesterly end of
OPTIONOR'S property described in Volume 1498, Page 93,
Penobscot Registry of Deeds, and lying northwesterly of and
adjacent to land of BANGOR described in Volume 4866, Page
76, Penobscot Registry of Deeds, previously purchased from
the OPTIONOR.
The parcel to be conveyed is further depicted on a sketch attached
to this Agreement as 'Exhibit A".
TERBS: This Option is granted subject to the following
terms and conditions:
1. Option Period. Unless sr exercised by BANGOR, this
Option shall expire on January 1, 1995.
2. Exercise of Option. BANGOR or its successors or
assigns may exercise the option herein granted by giving written
notice of its intent to exercise to the OPTIONOR, his successors,
heirs or assigns on or prior to December 31, 1994. Such notice
shall be effective if delivered to the OPTIONOR at the OPTIONOR's
address stated above. Thereafter, the parties shall schedule a
closing at a mutually convenient date, which may be after
expiration of the option period. If a date for closing cannot be
mutually agreed upon, a closing shall take place sixty (60) days
from the date of delivery of BANGOR's notice to the OPTIONOR, or on
the first business day after such date.
3. Purchase Price. The purchase price for land subject to
this Option shall be. Ten Thousand Seven Hundred Dollars
($10,700.00) per acre of landactually conveyed, to be paid by
BANGOR to the OPTIONOR in cash at closing.
4. Option Price to be Credited to Purchase. At closing,
BANGOR shall receive a credit against the purchase price for the
land conveyed In the amount of $15,000.00 representing the option
price paid for the option granted herein. Except as provided in
Paragraph 10 below, the option price paid shall otherwise be
non-refundable.
-2-
5. Tyne of Con Conveyance shall be by warranty
deed to BANGOR from OPTIONOR. BANGOR shall prepare all necessary
deeds, following survey, subject to approval by OPTIONOR's
attorney.
S. Sum. Prior to closing, BANGOR shall, at its sole
expense, survey the premises and mark the corners of the land to be
conveyed. BANGOR shall have the right to enter onto the premises
ata convenient time or times for this .purpose.
I. Variation in Acreage. Prior to closing on the option
premises, the parties may agree to a conveyance of more or less
acreagethan provided herein. In such event, said conveyance shall
be subject to the terms and conditions of this Agreement. If the
parties fail to specify a different acreage, the parcel to be
conveyed n
following a of the option granted herein shall
bethe thirteen (13) acre parcel described above.
S. Adiustment of Purchase Price. Upon exercise of this
Option, BANGOR may, in its sole discretion, elect to have the
option parcel on other parcel to be conveyed appraised by a
qualified appraiser of BANGOR's selection. Upon appraisal, BANGOR
may,nits sole discretion, adjust the purchase price for the
option parcel or other parcel to be conveyed upward to reflect the
appraised market value of such parcel at the time of closing. The
purpose of his paragraph being to permit BANGOR, in its sole
discretion, to take such steps as may be necessary to satisfy
regulatory requirements of the United States of America and the
Federal Aviation Administration relating to acquisition of real
property with Federal funds.
9. Taxes. OPTIONOR shall be responsible to pay all taxes'
and a ents duly assessed on the option parcel by any
governmental authority through the date of closing onany land
conveyed pursuant to this Option Agreement. Prepaid taxes as to
land actually conveyed shall be prorated between SELLER and RANCOR
as of the date of closing.
10. Hazardous Wastes. At closing, OPTIONOR shall supply
an affidavit to BANGOR detailing OPTIONOR's knowledge of the extent
of hazardous wastes on the premises to be conveyed. 'Hazardous
wastes' shall consist of any material defined as hazardous wastes
under any Federal or State law. In the event BANGOR's pre-closing
survey or BANGOR's affidavit shall indicate the presence of
hazardous wastes on the premises, BANGOR shall have the right in
its sole discretion to void this Agreement without payment of the
purchase price and without further obligation to OPTIONOR. In such
event, BANGOR shall be entitled to a refund of the option price.
-3-
11. Damage Claims. OPTIONOR hereby agrees that OPTIONOR'S
acceptance of the purchase price at closing shall constitute a full
and final release of any and all claims of the OPTIONOR for damages
on account of severance, or on 'account of activities of BANGOR, its
surveyors, agentsoracting in BANGOR's behalf, in or about
the premises prior to the date of closing, such release to include
claims for trespass, damage to standing timber or realty, personal
or other injury, governmental limitation on OPTIONOR's use of the
premises, damage to adjoining premises of the OPTIONOR, or any
other related claim or cause. OPTIONOR agrees to execute and -
deliver at closing any necessary releases in this regard.
12. Certificate to Issue. BANGOR agrees to execute and
deliver to the SELLER at closing a certificate that SELLER's sale
of the premises is made in lieu of and under threat of condemnation
by the City of Bangor, as a local municipal government acting in
its governmental capacity. BANGOR further agrees to supply such
additional written evidence as may be necessary to satisfy the
United States Internal Revenue Service in this regard.
13. OOtienOr Not to Construct Permanent Improvements.
During the option period, OPTIONOR shall not erect or construct any
buildings or other permanent improvements of any kind upon the
option parcel{ and if the OPTIONOR shall construct any such
buildings or improvements, BANGOR may enter onto the option parcel
for the purpose of removing the same. In the event of an exercise
of eminent domain by BANGOR or other governmental authority with
respect to the option parcel or any portion thereof, or upon
closing with respect to any portion of the option parcel conveyed
to BANGOR in
accordance with this Option Agreement, OPTIONOR shall
make no claim for compensation or damages on account of the taking,
acquisition, demolition or removal of improvements erected or
constructed on the option parcel in violation of this clause.
14. Optionor Not to Commit Waste. Wring the option
period, OPTIONOR shall not commit, suffer or permit any waste or
destruction of the option parcel. Provided, however, that haying,
agricultural a and selective -cut harvesting of timber and
firewood n standing on the option parcel shall not constitute
waste underwthis paragraph. The phrase "selective -cut harvesting"
shall be deemed to permit the cutting of any standing tree with a
diameter of five inches (5") or greater, as measured at a point
four (4) feet above ground level. All other timber now standing
upon the option premises shall be left intact. Accidental
destruction by fire, flood or other event beyond OPTIONOR's control
also shall not constitute waste under this paragraph. OPTIONOR
shall also keep the option parcel free of junked or abandoned
automobiles, slash, or other junk or debris during the option
period. It being the intention of this Agreement that the option
parcel shall remain as nearly as possible in its present condition
during the option period.
-4-
15. Optionor Not to Convey or Encumber Title. Wring the
option period, OPTIONOR shall not voluntarily convey, mortgage or
otherwise encumber the option parcel ar any portion thereof,'
without BANGOR'S prior written consent.
16. Option Binding on Dptionor's Successors. The Option
granted under this paragraph shall be binding upon the OPTIONOR,
his successors, heirs and assigns.
17. Agents. The parties hereby mutually represent that
neither has employed a real estate agent or broker to obtain this
Option Agreement. OPTIONOR and BANGOR have each employed separate
legal counsel with respect to this sale.
18. Ratification Reunited. This Agreement is executed by
BANGOR's undersigned Acting City Solicitor as a negotiating agent
only, and shall Be deemed binding only upon ratification by the
Bangor City Council or the responsible Committee thereof.
WITNESS the following signatures and seals this day
of December, 1991.
-T:,/
T CHA
LE
W.
SP
UE,
gR.
CITY OF BANGOR
ByV'^��
Title Patina City Solicitor
STATE OF MAINE
Penobscot, as. December 19 1 1991
Then personally appeared the above-named CHARLES W.
SPRAGUE, SR., and acknowledged the foregoing instrument to be his
free act and deed.
Before me,
Notary PublioiRttosnep�at-aa�n
Printed Name: rivyl,1:_ r,r,,,._.,,,.,,
Nc:a % %b- i
My CLI:L:.
-5-
Penobscot, -sa. STATE OF MAINE December /� , 1991
Then personally appeared the abOVe-named ERIE M. STUMPFEL,
n his capacity as Acting City. Solicitor, 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,
'�u
Notary Public
Printed Name:
Ory ^✓.=.»a+.:-._ ':.
0
CIIT of Bangor
,
r:
per Vol. 4866/
no. 93 PCA
parles W. Sprepue,Jr.
OPTION PARCEL
13 acres m/I
0
o
0
CIIT of Bangor
,
r:
per Vol. 4866/
no. 93 PCA
parles W. Sprepue,Jr.
OPTION PARCEL
13 acres m/I
0
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REAL ESTATE OPTION AGREEMENT
CHARLES W. SPRAGUE, JR., of 1702 Union Street, Bangor,
Penobscot County, Maine (hereinafter "OPTIONOR"), in consideration
of Fifteen Thousand Dollars ($15,000.00), the receipt of which is -
hereby acknowledged, hereby grants to the CITY OF BANGOR, a
municipal corporation organized and existing under the laws of the
State of Maine and having a principal place of business at Bangor,
Penobscot County, Maine (hereinafter "BANGOR") an option to
purchase, upon the terms and conditions set forth below, the
following described property of the OPTIONOR located in Bangor,
Penobscot County, Maine:
PROPERTY: A parcel of 13 a ore or less, to be
surveyed, consisting of -a rectangular lot approximately
1712 feet by 330 feet off the southwesterly end of
OPTIONOR'S property described in volume 1498, Page 93,
Penobscot Registry of Deeds, and lying northwesterly of and
adjacent to land of BANGOR described in volume 4866, Page
76, Penobscot Registry of Deeds, previously purchased from
the OPTIONOR.
The parcel to be conveyed is further depicted on a sketch attached
to this Agreement as "Exhibit A'.
TERM: This Option is granted subject to the following
terms and conditions:
1. Option Period. Unless sooner exercised by BANGOR, this
Option shall expire on January 1, 1995.
2. Exercise of Option. BANGOR or its successors o
assigns may exercise the option herein granted by giving written
notice of its intent t0 exercise tO the OPTIONOR, his successors,
heirs or assigns on or prior to December 31, 1994. Such notice
shall be effective if delivered to the OPTIONOR at the OPTIONOR's
address stated above. Thereafter, the parties shall schedule a
.'closing at a mutually convenient date, which may be after
expiration of the option period. If a date for closing cannot be
mutually agreed upon, a closing shall take place sixty (60) days
from the date of delivery of BANGOR'S notice to the OPTIONOR, or on
the first business day after such date.
3. Purchase Price. The purchase price for land subject to
this Option shall be Ten Thousand Seven Hundred Dollars
($10,700.00) per acre of land actually conveyed, to be paid by
BANGOR to the OPTIONOR in cash at closing.
4. Option Price to be Credited to Purchase. At closing,
BANGOR shall receive a credit against the purchase price for the
land conveyed in the amount of $15,000.00 representing the option
price paid for the option granted herein. Except as provided in
Paragraph 10 below, the option price paid shall otherwise he
non-refundable.
i
I
-2-
S. Tvue of Conveyance. Conveyance shall be by warranty
deed to BANGOR from OPTIONOR. BANGOR shall prepare all necessary
deeds, following survey, subject to approval by OPTIONOR's
attorney.
6. Survey. Prior to closing, BANGOR shall, at its sole
expense, survey the premises and mark the corners of the land to be
conveyed. BANGOR shall have the right to enter onto the premises
at a convenient time or times for this purpose.
]. variation in Acreage. Prior to Closing on the option
premises, the parties may agree to a conveyance ofmoreor lees
acreage than provided herein. In such event, said conveyance shall
be subject to the terms and conditions of this Agreement. If the
parties fail to specify a different acreage, the parcel to be
conveyed following an exercise of the option granted herein shall
be the thirteen (13) acre parcel described above.
8. Adiustment of Purchase Price. Upon axercise of this
Option, BANGOR may, in its sole discretion, elect to have the
option parcel or other parcel to be conveyed appraised by a
qualified appraiser Of RANGOR's selection. Upon appraisal, BANGOR
may, in its solediscretion, adjust the purchase price for the
option parcel or other parcel to be conveyed upward to reflect the
appraised market value of such parcel at the time of closing. The
purpose of his paragraph being to permit BANGOR, in its sole
discretion, to take such steps as may be necessary to satisfy
regulatory requirements of the United States of America and the
Federal Aviation Administration relating to acquisition Of real
property with Federal funds.
9. Taxes. OPTIONOR shall be responsible to pay all taxes
and assessments duly assessed on the option parcel by any
governmental authority through the date of closing on any land
conveyed pursuant to this Option Agreement. Prepaid taxes as to
land actually conveyed shall be prorated between SELLER and BANGOR
as of the date of closing.
10. Hazardous Wastes. At closing, OPTIONOR shall Supply
an affidavit to BANGOR detailing OPTIONOR's knowledge of the extent
of hazardous wastes on the premises to be conveyed. ^Hazardous
wastes" shall consist of any material defined as hazardous wastes
under any Federal or State law. In the event BANGOR'S pre-closing
survey or OPTIONOR's affidavit shall indicate the presence of
hazardous wastes on the premises, BANGOR shall have the right i
its sole discretion to void this Agreement without payment of the
purchase price and without further obligation to OPTIONOR. In such
event, BANGOR shall be entitled to a refund of the option price.
-3-
11. Damage Claims. OPTIONOR hereby agrees that OPTIONOR'¢
acceptance of the purchase price at closing shall constitute a fall
and final release of any and all claims of the OPTIONOR for damages
on account of severance, or on account of activities of BANGOR, its
surveyors, agents or anyone acting in BANGOR's behalf, in r about
the premises prior to the date of closing, such release to include
claims for trespass, damage to standing timber or realty, personal
or other injury, governmental limitation on OPTIONOR'¢ use of the
premises, damage to adjoining premises of the OPTIONOR, or any
other related claim or cause. OPTIONOR agrees to execute and
deliver at closing any necessary releases in this regard.
12. Certificate to Issue. BANGOR agrees to execute and
deliver to the SELLER at closing a certificate that SELLER'S sale
of the premises is made in lieu of and under threat of candeamation
by the City of Bangor, as a local municipal government acting in
its governmental capacity. BANGOR further agrees to supply such
additional written evidence as may be necessary to satisfy the.
United States internal Revenue Service in this regard.
13. Optionor Not to Construct Permanent Improvements.
During the option period, OPTIONOR shall not erect or construct any
buildings or other permanent Improvements of any kind upon the
option parcel{ and if the OPTIONOR shall construct any such
buildings or improvements, BANGOR may enter onto the option parcel
for the purpose Of removing the same. In the event of an exercise
of eminent domain by BANGOR or other governmental authority with
respect to the option parcel or any portion thereof, or upon
closing with respect to any portion of the option parcel conveyed
to BANGOR in accordance with this Option Agreement, OPTIONOR shall
make no claim for compensation or damages on account of the taking,
acquisition, demolition or removal of improvements erected o
constructed on the option parcel in violation of this clause
14. Optionor Not t0 Commit Waste. During the Option
period, OPTIONOR shall not commit, suffer or permit any waste Or
destruction of the option parcel. Provided, however, that haying,
agricultural use, and selective -cut harvesting of timber and
firewood now
standing on the option parcel shall not constitute
waste under this paragraph. The phrase 'selective -cut harvesting"
shall be deemed to permit the cutting of any standing tree with a
diameter of five inches (5°) or greater, as measured at a point
four (4) feet above ground level. All other timber now standing
upon the option premises shall be left Intact. Accidental
destruction by fire, flood or other event beyond OPTIONOR's control
also shall not constitute waste under this paragraph. OPTIONOR
shall also keep the option parcel free of junked or abandoned
automobiles, slash, or other junk or debris during the option
period. It being the intention of this Agreement that the option
parcel shall remain as nearly as possible in its present condition
during the option period.
-a-
15. OptionOr Not to Convey or Encumber Title. During the
option period, OPTIONOR shall not voluntarily convey, mortgage or
otherwise encumber the option parcel or any portion thereof,
without BANGOR's prior written consent
16. Option BindinaOptionor,s Successors.
The Option
granted under this paragraph shall be binding upon the OPTIONOR,
his successors, heirs and assigns.
17. Aqents. The parties hereby mutually represent that
neither has employed a real estate agent or broker to obtain this
Option Agreement. OPTIONOR and BANGOR have each employed separate
legal counsel with respect to this sale.
18. .Ratification Required. This Agreement is executed by
BANGOR's undersigned Acting City Solicitor as a negotiating agent
only, and shall be deemed binding only upon ratification by the
Bangor City Council or the responsible Committee thereof.
WITNESS the following signatures and seals this day
of December, 1991.
M. mHUMMM
CITY OF BANGOR
By UI.RSt�—W
Title Acting City Solicitor
STATE OF PAINE p
Penobscot, as. December � / , 1991
Then personally appeared the above-named CHARLES W.
SPRAGUE, JR., and acknowledged the foregoing instrument to be his
free act and deed.
Before me,
/ Jany �F ( IYIfL/
Notary
Printed PRome: Li TERF1L gComo,
a
', MY Mum,
-5-
— Penobscot, as. STATE OF MAINE December /9 1991
Then personally appeared the above-named ERIK M. STNMPFEL,
in his capacity as Acting City Solicitor, 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,
l �i o
Notary Public ey at Ca
Printed Name, TPE.pI u 7F OCGc_r
ras;
My rc v „._
iarles W. SPra9ue,Jr.
OPTION PARCEL
13 acres MA
City
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City