HomeMy WebLinkAbout1989-09-25 89-388 ORDERInked For
Passbge
Q First Reading - Page_ of
0 Referral
- Date 9-25 �89r1Y11
Item No. 89-388
Item/Subject: Authorizing extension of Option
Agreement --
Parcels H-2 A H-3
Respomible Department: Legel
Commemary:
Manager's Comments:
c
Associated Information:
Order
Budget Approval:
'
I+iwna tlimaor
Legal Approval: _
Inked For
Passbge
Q First Reading - Page_ of
0 Referral
89-388
Aeugnedto(:ouncOor Stone, September 25, 1909
CITY OF BANGOR
rye
(TITLE.) Mrbtr, Autbori 1 g Extension of option Agreement, -
.......... __. .................
Parcels H-2 6 R-3
By toe Coy CmW of W Oity efBangow:
ORDERED, .
THAT WHEREAS, the City Council has approved an Option
Agreement with Gridley Street Associates for the purchase and
redevelopment of Community Development Parcels N-2 S B-3
located between Boyd and Newbury Streets which term,as
previously extended by Council Order No. 89-317, endson
September 30, 1989; and
WHEREAS, by and through the Option Agreement the
City has agreed to furnish to the developers evidence of its
title in .the farm of an abstract of title, or a title insurance
commitment; and
WHEREAS, the City has furnished the required title
abstracts. but additional time is required for the developer
to complete its examination of them,
NOW, THEREFORE, By the City Council of the City Of Bangor:
ORDERED THAT the City Manager is hereby authorized
and directed to extend the Option Agreement referred to above for
a period of sixty (60) days. -
In City Council September 25,1989
Amended as follows
Approved Extension Of option
Agreement with the following
conditions
Title,
Authorising Extension of Option A9reeoent
parcels S-3 S-3
......................................
#1 that all past due option fees
be �eas:L-GuwFa+..t ..
#3 th t the 'teebw dd 60rdiluciion
scbWsle be r6pzl6d nd 9g47{ tAa to
tA; City council for Approval
#3 Tatar for site plan submittal
be Change] to reflect the current
schedule
�......I.......�.'............... 6.......
Ae®p" m[g �
.:............
Councilman