HomeMy WebLinkAbout1980-06-09 206 AH RESOLVEm5 AH
Intzeauced' y Councilor ealaacci, . ne 9, -lept
_ CITY OF BANGOR
(TITLE.)Ijipy Amending, OPtian.:.Agreemeat For Purchage._o f,_ Ran 9C _
York Neighborhood Developm................. ............ _.
ByW Cieg Cas"uilofae My ofBaMa:
RESOLVED, THAT WHEREAS, the City of Bangor, by and through Sohn A.
Flynn, Its City Manager, and G & S Associates, by and through Warren C.
Sawyer, a general partner of G & S Associates, entered into an "Option
Agreement for Purchase of Hancock -York Neighborhood Development Project
Land (H-1)" on February 27, 1979; and _
WHEREAS, the Congregation Beth Abraham Anshe Hphard has submitted
a proposal for redevelopment of a portion of parcel H-1 under option
to G & S Associates; and
WHEREAS, the Congregation Beth Abraham Anshe Sphard has agreed to
convey a portion of its land to the City in partial consideration for
the purchase of said portion of H-1; and
WHEREAS, G & S Associates has agreed torelease said portion of
parcel H-1 from the terms of the Option Agreement in exchange for the
right to purchase said Congregation parcel from the City once it has
acquired title to said parcel; and
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
BANGOR THAT the City Manager is hereby authorized to execute an Amend-
ment to the Option Agreement for the purposes of deleting a parcel of
approximately 8,732 square feet therefrom and adding a provision that
once the City acquires title to the Congregation parcel of approximately
2,324 square feet it shall become subject to the Option Agreement. A
copy of said Amendment is on file in the Office of the City Clerk."
4.
IN CI'M CO=IL
�lun8'9. 19801980
naasea
306 AN
R ES OypL Y E
Amending Option Agreement for Aimhase
of Hancock -York Neighborhood Develo�t
Proixt Sena (N-1)
JUN -5. A842
RECNv
CITY Of BAFOUN
CITY CLERK
±I .H
OPTION AGRESNENT FOR PURCHASE OP HANCOCE-YORK
NEIGHBORHOOD DEVELOA PROJECT LAND (H-1)
AMENDMENT #2
THIS AMENDMENT is made this day of Junes 1980, by and between
the City of Berger, a municipal corporation located in the County of Penobscot
State of Maine (hereinafter "CITY")s and G & S Associates, a general partner-
ship under the laws of the Co®onwealth of Massachusetts with its principal
place a business in Lymns County of Essex, Co®onwealth of Nassacbmsetts
(hereinafter "DEVELOPER").
WITNESSETH:
WHRREA.4s by Option Agreement dated February 27, 1979 the CITY end the
DEVELOPER entered into an caclusive option to purchase agre®®t relating to
Hancock -York Parcel H-1; end
WHEREAS, the description of the real property subject to said Option
Agreement was set forth in Exhibit A to said Agreement; and
WHEREAS, the CITY and the DEVELOPER have mutually agreed to amend said
Option Agreement by charging the boundaries of the parcel subject to said
Agreement;
NOW, THEREFORE, in consideration of the original obligations of the CITY
and the DE)TELOPER, the parties agree as follows;
1. the Plan attached hereto and labeled 'Wew Exhibit A" shall be sub-
stituted for "Exhibit A" of the original Option Agreement and made a part
thereof and shall constitute the Parcel H-1 to which said Agreement applies.
2. At such time as the CITY acquires title to the parcel identified as
H-1 (b) on "New Exhibit A"s said parcel shall automatically become part of the
H-1 parcel which is the subject a the Option Agreement. In the event that
Parcel H-1 hes already been conveyed to DEVELOPER at the time the CITY ac -
Chime
title, the CITY shall convey said parcel H-1 (b) to the NEVEIOPERor
its assigns.
3• In the event that the CITY is unable to acquire parcel H-1 (b),
parcels H-1 (a) and H-1 (c) shall become incorporated into add become a pert
of parcel H-12 and shall be subject to the seme tunas and conditions as parcel
R-1.
4. Except as here; before vwdified end amendeds the Option Agreement
(as amended by Amendment #1 executed on April 28,1980) shall continue in full'
force end effect. .
IN WITNESS WHEREOF, the parties hereto have set their hands add reels
this day, and your first written above. ,
}]4t v Fgd
n
Witness Its City Manger
G & S ASSOCIATE
Ry
Witness Its General Partner
GTATE GF Ml+wc.
Penobscot, ss. - , leo:
Then personal]j appeared the above eased John W. Flynn, in his capacity �
ss City Manager, end acknowledged the foregoing instrument to be his free acts
and deed and that of the CI f B
City o angor. j
Before on,
Attorney at Law
COMIgMVP:A OF M SACMSSEM
Essex, ss. 19bO
Then personally appeared the above named Warren C. Sa ei, in his caae-
city as a general partner in the general partnership of G A S Associates, and
aeshowledged the foregoing instnvuent to be his tree act and deed and that of
G & S Associates.
Before me,
Notary Public
Attorney at Law
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