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HomeMy WebLinkAbout1989-08-28 89-367 ORDERIntrm!red For sage ❑ First Reading Pege_of_ ❑ Referral Date August 24, 1989 Item No. Item/Subject: Parcel B-4 Respomible Mpar mens: Commentary: The purpose of this Order is to confirm the City's willingness to perform a "perimeter taking' -of the land areaencompassed in Parcel B-4 to eliminate any title defects on the record.. A similar course of proceeding was necessary in the conveyance of property in the York -Hancock Street area and the parcel acquired by Franeway Realty for the new Key Bank Building. " no0mn fmL '. — Manager's Comments: — city Mewgr AsaociatM Information: Rudgeu Approval " Firmer gixtor Legal Approval: k - 'Cio satirize, Intrm!red For sage ❑ First Reading Pege_of_ ❑ Referral Amipied to Counedor CITY OF BANGOR (TITLE) (ffirbex Authorize Execution of Agreement with Mt. Desert Associates: Parcel B-4 - Eminent Domain Proceedings By Um City Council of W MY ofBa*Oa+ OEDEEED, THAT The City Manager is hereby authorized and directed on behalf of the City of Bangor to execute an agreement, a copy of which is on file in the office of the City Clerk, providing for the exercise of the City's eminent domain powers to eliminate on the record certain technical defects in the City's title to Parcel B-4. Inbred ced For sage ❑First Reading _Pape — of L1 Referral msncn `Augusts Date 24, 1989 Item No. 89-367 Imrn/Subject: parcel B-4 Responsible Department: Commentary: The purpose of this Order is to confirm the City's willingness to perform a "perimeter taking"of the land area encompassed in Parcel B-4 to eliminate .any title defects on the record. A similar course of proceeding was necessary in the conveyance of property in the York -Hancock Street area and the parcel acquired by Fransway Realty for the new Key Bank Building. wpan. same I Manager's Comments: Cayman's=• Associated Information: Budget Approval: Fire ceDire Legal Approval: _ kw Miry Solieirui Inbred ced For sage ❑First Reading _Pape — of L1 Referral 89-36] Asdred to CouncJor Tilley, August 28, 1989 CITY OF BANGOR )DILL) Mri¢rt Authorize, Execution of Agreement with Mt. Desert As80Clatea: Parcel B-4 - Eminent Domain Proceedings By tha CUP Coumel oftU MY OfBam PT.' t't t TUT The City Manager is hereby authorized and directed on behalf of the City of Bangor to execute an agreement, a copy of which is on file in the office of the City Clerk, providing for the exercise of the City's eminent domain powers to eliminate on the record certain technical defects in the City's title to Parcel B-9. 89-367 Authorize Execution of Agreementwith Mr. IN CITY COUNCIL Desert Associates: Parcel 8 - Eminent August 28, 1989 Domain Proceedings Passed Councilor Tilley O CITY ]LEER $'uS rai tow s9.947 r.egal�cepartment 0 F TN" 2v+w9 Date August 24, 1989. 10: -City 'Council IR(MP Robert Miller RE: " ' Parcel 3-4 Enclosed please find a proposed Council Order which I would like to have you consider under Suspension of the rules on Monday night. It is necessary for the development of Parcel B-4. Please call me if you have any questions. /jm A.E.M. AGREEMENT This Agreement is entered into as of this _ day of August, 1989, by and between Mt. Desert Associates, a Maine General Partnership with a place of business in Bangor County of Penobscot, State of Maine (hereinafter "Buyer') and the City Of Bangor, a municipality situated in Bangor, County of Penobscot, state of Maine (hereinafter "Seller"). RECITALS: 1. Buyer has acquired a lot of land (commonly referred to s Parcel B-4) from Seller by deed of even date for the development of a commercial structure thereon. 2. The parties acknowledge that there are title defects to certain portions of Parcel B-4 which need to be cured. NOW, THEREFORE, in further consideration of the purchase of the premises and the obligations of the parties, the parties hereby agree as follows: 1. Seller shall proceed with due diligence to exercise its eminent domain authority to cure any title defects to Parcel B-4. 2. Seller and Buyer, through their respective legal counsel, shall coordinate the exercise of said eminent domain authority to insure that the title defects are adequately addressed to the satisfaction of Buyers legal counsel and/or its title insurance company. 3. UPON completion of said eminent domain action, Seller shall provide Buyer with a duly executed confirmatory deed for Parcel B-4. 4. All costs and expenses arising from the exercise of said eminent domain authority, except for expenses incurred by Buyer, shall be borne by Seller. IN WITNESS WHEREOF, the parties have duly executed this document as of the day and year first above written. MT. DESERT ASSOCIATES By: Its Partner CITY OF BANGOR By: Edward A. Barrett Its City Manager pate August 24, 1989. TO: City Council FROM: Robert Miller AB; Parcel B-4 Enclosed please find a proposed Council Order which I would like to have you consider under Suspension of the mules on Monday night. It is necessary for the development of Parcel B-4. Please call me if you have any questions. /jm A.E.M. AGREEMENT This Agreement is entered into as of this_day of August, 1989, by and between Mt. Desert Associates, a Mane General Partnership with a place of business in Sanger, County of Penobscot, State of Maine (hereinafter "Buyer") and the City of Bangor, a municipality situated in Bangor, County of Penobscot, State of Maine (hereinafter "Seller"). RECITALSz 1. Buyer has acquired a lot of land (commonly referred to as Parcel B-4). from Seller by deed of even date for the development of a commercial structure thereon. 3. The Parties acknowledge that there are title defects to certain portions of Parcel B-4 which need to be cured. NOW, THEREFORE, in further consideration of the purchase of the premises and the obligations of the parties, the parties hereby agree as fullness 1. Seller shall proceed with due diligence to exercise its eminent domain authority to cure any title defects to Parcel B-4. 1. Seller and Buyer, through their respective legal counsel, shall coordinate the exercise of said eminent domain authority to insure that the title defects are adequately addressed to the satisfaction of Buyer's legal counsel and/or its title insurance company. 3. Upon completion of said eminent domain action, Seller shall provide Buyer with a duly executed confirmatory deed for Parcel B-4. 4. All coats and expenses arising from the exercise of said eminent domain authority, except for expenses incurred by Buyer, shall be borne by Seller. IN WITNESS WHEREOF, the parties have duly executed this document as of the day and year first above written. MT. DESERT ASSOCIATES Byz Its Partner CITY OF BANGOR Bys Edward A. Barrett Its City Manager