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Home My WebLink About1991-07-08 91-277 ORDERVu,,.,, _..,u.. Date 7-111_93 Item No. 191-277 W 1 Aunthorizvg Che City tanager to Exal an Ayeamnt Item/Sulaymn and Pee IzeuniarcAmn vlm tire Coastland Gossip, Inc. pelatLg to Conant Funds Assacfntai with Bass park Responsible Department: City Manager Commentary: I cos recta. nte3y by a x Wttve of the Coastlmtl (Sop, you. relating to smo daurent fords which this coepany has identifie i rn3Mf if to the Seem park Corpearatlrn. this mgatry appsrcntly tpxialires in the reovesy of uldiauihurm, mlmaimed, or undelivered fends held by qo ertrom¢ agencies. Penn my conversation with their it iB any impreeeim that the ascent of funds in question is beLaeml $10r000 andl $20,000. Per ten attached omen, 3m have chadmd our records relating m the Base Paris Corporationns and bases been notate to identify arty funtle Milch might be Ave_ to the City as Base Park's mseesor. The mnpany's fee for ray of funds; is 508 of the anomR da. avm1 that sea are unable m identify the potential source of theee fords, I uoutd xsramabl that the city Council authorize oe to ream an agreement vitt the Coastlard (icvp Mulch would allows than to Pursue recovery of tldne fads. Recovery of even 508 a funds due to us vhdch sue were rot aware of suould cefoiniF he an assiamrce to our efforts to imp a the reaome and financial picture of tha Bea Bark. neMm ,md Manager's Comments: Carym',aer Associated Information: Order, Memo from Assistant City Solicitor,. Letter and Agreement from the Coastland Croup, Inc. Ru hen Approval: ren d we ere[ Legal Approval:KGOmmrnAf 9®P'Om , ser a L pt,/L /hbm>. Y Y Gary sali<tm, Inc card For First Reading Page_of_ ❑ Referral 91-2A A pedmC eff� saw en. July 8, 1991 CITY OF BANGOR (TITLE.) (0CDET,..............AaE izix u city .m,ager..m-srassrc.en-1•�eaoarc. m,d-Pee N xaMimi wiN rule Caaetlmsi Grum. Inc. l latin i Wment amus AaeociaTad with BB68 Paek By Bw City Ca of CN of Baa . ORDERED. TEAT the City Bana9ez' ss hsraby auttasiaal to � ae ary� mW fce memeareAm with the Cx UC Q. , mo. m seek xarn'ecy of f � to Ue Base Paz Coaporation Wt ae Yat mewllecfed Cy the City of Bangor. IN CI'1'l' COUNCIL July 8, 1991 Passed ,G,n � cxTs Rxb 91-2)I ORDER Title, Authorizing the Cit Manager to B acute an "SyreemedE and'aee m6{addum Gicti ctie coaacxana Group, Inc. Relating to Dormant Funds Associated .AGjA 84s.6 Ruh ...................... edI Toxn... .... • Councilman July 1, 1991 TO: Edward A. Barrett, City Manager FROM: .Erik M. Stumpfel, Asst. City Solicitor RE: Correspondence from Coastland Group, Inc. -- Bass Park Receivables I checked with John Q, Judy Strout and Dick Hull on this. (Judy Strout kept the books for Bass Park Corporation before moving over to the Airport.) In addition,. at John Q's suggestion, I also contacted the abandoned property division of the Massachusetts Secretary of State's office. Judy Strout and Buck Hull are unaware of any claims, bank accounts or other items remaining open at the time the affairs of the Bass Park Corporation were wound up ca. 1986. Accounts receivable Rare taken over by the City at that time. A few notices of claims remained unresolved, but these were claims against the Corporation, and not in its behalf. I got through to the Massachusetts Secretary of State this afternoon. That office reports that it has no abandoned property listed as belonging to either the City of Bangor or the Bass Park Corporation. Maine's Secretary of State is on furlough, thanks to the budget crisis in Augusta. I suggest we ask the Council for authority to sign the Agreement and Power of Attorney. I would include a cover letter addressed to Coastland Group stating the City's understanding that the Agreement does not extend to funds owed on account of the trust established under the original Bass will and trust. E.M.S. to City Of Bangor/City �� successor in interest to Base Park Corp. 73 Harlow St Bangor, ME 04401 THE COASTLAINCE GRC�LJP, 54�M .,Ax,�w MA =72iA'J Attul Edward Barrett, City Manager BE: Dormant Funds Dear Me Barretts Pursuant to our discussion, I enclose our corporate fee agreement and limited Power of Attorney farms which have been completed with the specific detail necessary for us to process your Claim. To aid you in completion of these documents, I an also enclosing a instruction sheet addressing the moat common questions asked about our forms. Toreiterateour conversation, all costa involved in securing you funds, including processing fees and administrativeand court costs, are advanced by our firm. No fee is assessed to you if we are unsuccessful in obtaining theca funds. Our clients include multi -national banks, insurance companies, national retail and finance chains, telephone companies, and federal and state agencies. We are fidelity bonded through the Kemper Insurance Group. You may consult Dun and Bradstreet or the Boston Trade Bank as to our financial standing. Should you have additional questions not addressed by these instructions please contact me or our general Counsel's office directly at (617) 341-1080. We will process your claim immediately upon receipt of properly signed documents. Sincerely, D id Hiru fold Senior "Societe DS/7h Knclosure June 17, 1991 City Of Bangor/City �� successor in interest to Base Park Corp. 73 Harlow St Bangor, ME 04401 THE COASTLAINCE GRC�LJP, 54�M .,Ax,�w MA =72iA'J Attul Edward Barrett, City Manager BE: Dormant Funds Dear Me Barretts Pursuant to our discussion, I enclose our corporate fee agreement and limited Power of Attorney farms which have been completed with the specific detail necessary for us to process your Claim. To aid you in completion of these documents, I an also enclosing a instruction sheet addressing the moat common questions asked about our forms. Toreiterateour conversation, all costa involved in securing you funds, including processing fees and administrativeand court costs, are advanced by our firm. No fee is assessed to you if we are unsuccessful in obtaining theca funds. Our clients include multi -national banks, insurance companies, national retail and finance chains, telephone companies, and federal and state agencies. We are fidelity bonded through the Kemper Insurance Group. You may consult Dun and Bradstreet or the Boston Trade Bank as to our financial standing. Should you have additional questions not addressed by these instructions please contact me or our general Counsel's office directly at (617) 341-1080. We will process your claim immediately upon receipt of properly signed documents. Sincerely, D id Hiru fold Senior "Societe DS/7h Knclosure LMHTED POWER OF A'ITORNEY Date: KNOW ALL MEN BY THESE PRESENPS, That I, Edward Barrett. City Manager hereby appoint The CoaetleM GrouR Inc., in the pensee of one of he principal al! ers, roy sole lawful attorney in fect W seek recovery of the wdietributed, uneleimed or mdelfvered tellers of Nnde of. Been Park Corp. held by the United States, by a slate or by any agency or inximmmfalM1y of either, hereby revoking ell promous powers of attorney in tbie regard, to whomever ganted. I further Front wattorney, acting in faze or tbroogh an attorney -d law retained on buy how,, authority W do whatever u nt ce and proper as My as I might or -could do if permmlly Presmk hereby coMrming as that my said attorney shell lawfuny do or eaum W be date. Nevertheless, my attorney shelf here no authority W incur mS fumaaal obligation m my behalf or to melee any expenditure on my behalf, other then m expenditure payable Gnn any sums rswered by wrtme of my attorney's arlions. Inconstri ing tbwinstrumeny where the contest so requires, the singular includes the Plural T Posner ofattorway shan expme SM clays Gam the date of this agreement unless otherwise extended in writing by the parties. Sgaed this _say of� IWI City Of Bangor/City Half, successor in interest to Ba® Park Corp. "FM CODPOMM REAL By: Edward lk rrdt, City Manager STATE OF _ COU OF AcknowledgN before me on this_ dq of INN by Edward Darren Cite Mmmer, to me well kngwa to be the MAdud desenbed herein and bolding the position designated to the foregoing huhument and who executed the foregoing instrument and acknowledged the exemtlm thereof to be biWber Dee net and deed. Before meo- Must Seto Notary Public My commission expires: AGREEMWT FEE IMMOBANDUM BETWEEN: AND: TEE cOAETLAND GROUP, INC. City Of EmgamIClry Holl, sumeseor In 5 CABOT PWCE Interest RTOUGHTON, b 020,72 Bane Park Corp. (herelnefter'CoesGmd") 73 Hazlow Et Dmgor, NIE o4401 (Hereinafter "Chdmmtl In emenceration of Coastiand's successful tlforts to notes Clement of fmts due to Chorister but as yet wrolleoted, end besed an Coaeund's promise W d'recL Claimant's claim bre proper channels, Cicfinent hereby Woes to Comtlm,d's retention of s fee equal W 50.0 per cent of the fundis collected on bebef of Claimant, out of which CowOand agrees W pay au expresses; associated with notnication and ccllwtio except as noted below. B m mderetoad mar. 1. Claimant will cmperste by executing documents needed W complete the rte. 2. Unless fwts are colletteQ there will be no charge to Clement whatsoever. S. IT [ands are refsted m expeamee or chwges will be arae d against Claimant other timn she fee set out above. NeveMek .if Coastlm,do restored W secure outode legal counsel in order to colla[ the fords, men set amomH ague W the Imsw of the chargee for such omtside mumset or ten percent shall he cietucted f the funds prior to the eeeulation of Comtlend's fee, and used fm payment of coumel 9. H Claimant u actively attempting W const the fmcis as of this date of Use agreement, mu agreement shall be null and void. The invalidly or aneofomeabnit➢ of any portion of this agreement sben to no way afle the vanciity or eNbrceebnity of any other portion of this agreement. Thu Weemau and Comtland's authority and entitlement hereunder shag termimte autometieagv end become nW and void upon the expiration of me yew from the dee hereof. Dated this _ city of 1101 City Of thanvoClty Hall, auaessor m The Coeethnad Group, Inc. interest to ` Bees Park Corp. et,: dory _ President By. Eawara EarreE, city massager The following [enclosed Summers] xusT ALWAYS be completed and returned: PEE AGMEIEMf: The yea Agreement is a contract between You and The COaetlaM Group Inc. it states that we receive no co mfeaion if we Qrful unable to recover e m your funds, and notes our co ieeion rate it we me succe re no other costa to you. LIMITED ?Cape OF ATTORWE4I The Plaited Power Of Attorney gives The Coastlend Group, Inc. the legal ability toacov r these fused for you. rt cannot he used for any other purpose and is valid for one year. As to these you Should: - whomwpy or transcribe the test Of the Power of Attorney onto your own letterhead [1f available] - ams, my necessary changes to either document in pan and initial the changes - Sign both documents in blow pen - Have the Power Of Attorney notarized - [If applicable] affix your corporate seal to the Power of Attorney - Provide extra signature copies of the Power Of attorneyLox Multiple claims AGUirzoML REQUIRED DIXAIEMTG In certaind e c we need additional documnts to establish conclusively your identity And to the funds in question. You should include the particular items marked below: _ A photocopy of your state driver's license, passport or other docusent [specify: As currently valid with your correct address; showing the following former address: Showing your maiden or other previous last nems. _proof that you me the executor or residual heir of the eo dere sed per n s estate. Any of the marked items are ceptable; _ Photocopy Certificate, of the will showing your status under it. _ Proof Cettifir Of _ Proof of Power of _certificate of ordererAttorney.th of the Probate Court. _ other _ forme of corporate identification [showing the following previous corporate name/addreea ] such as letterhead, business cards or invoices. Evidence of your right to claim on behalf of the following cmryany: _ werget oracquisition agraement _ An icleaof incorporation or other state record showing your position a officer/controlling shareholder _ Cc rt record showing your position as Receiver or Trustee in bankruptcy Other