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HomeMy WebLinkAbout1971-11-22 22-Z ORDER22-2 Introduced by Councilor promotes, Nov. 22, 1971 CITY OF BANGOR (TITLE) (Drbe[e__(pproving Proposed ConFxact for.. Bale of Land in the Btlllweter Park Urban Renewal Protect - Parcel No . By the City Comma of be qty of Bander: ORDERED, TDAT WHEREAS, the Urban Renewal Authority of the City of Banger proposes to enter into a contract for the sale of parcel numbered 173 in the. Stillwater Park Urban Renewal Project with Sockbeson n Inc- -; and WTER8.4S, the said PnQ4bPmnn Urog_Tnc has offered to pay the sum of Eight Hundred and 00/100 Dollars ($800.00) for said parcel , said price being the minimm approved price for said parcel as established by the Urban Renewal Authority and approved by the Department of Housing and Urban Developumnt; and WHEREAS under the provisions of Chapter 168 of the Private and Special Laws of Maine, 1957, as amended, City Council approval of all contracts for the sale of land within the project area is required; and NHEEMS, the Urban Renewal Authority has filed a copy of the proposed contract with Sockbeson Bros., Inc. in the office of the City Clark; NW, THEREFORE, B8 IT OgDBRBD: THAT the proposed contract on file with the City Clerk be AM is hereby approved. 22-z =E:IVED 1371 AN38 N. 1:0» CITY r PA N'S OFFICE 0RD£R ¢' [Iv Pe kGSR. MAINE Tiilq Sale Of land in Stillwater Park IN CITY COUNCIL ....................... 0.............. Nov. 22, 1971 PASSED Parcel No. 173 ....................... 4.... 4......... cIEAE IVGoduced and filed by . • •Coweilmav STILLNATER PARE PRWECT PRWECT NO. M. R-4 _ PART I of CONTRACT FOR SALE OP LAND FOR PRIVATE REDEVELOPMENT (OFFER AND ACCEPTANCE) By and Between Urban Renewal Authority of the City of Bangor and Sockbeson Bros., Inc. PART I CONTENTS Section page 1. Sale: Purchase Price 2 2. Conveyance of Property 2 3. Good Faith Deposit 3 4. Time for Commencement and 4 Completion of Improvements 5. Time for Certain Other Actions 4 6. Period of Duration of Covenant on Use 4 J. Notices and Demands 5 8. Special Provisions 5 9. Modifications of Part II 5 10. Counterparts 5 CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT AGREEMENT, consisting of this Part I and Part II (Form H-62098, 1-64) annexed hereto and made a part hereof (which Part I and Part 12 are together hereinafter called "Agreement"), made on r as of the 1st day of November 1971 , by and between the Urban Renewal Author v[ of t5e Cit of Bangor, a public baby corporate whit , together with any successor public body or officer hereafter designated by or pursuant to law, i hereinafter called "Agency"), established pursuant to Chapter 168 of the Private and Special Laws of the State of Maine, 1957, a amended (hereinafter called "Urban Renewal Act") and having its office at City Hail in the City of Bangor (hereinafter called "City"), State of Maine, and the Sockbeson Bros., Inc. corporation organized and existing under the laws of the State of Maine hereinafter called the 'Redeveloper") and having an office for the transaction of business at 502 Stillwater Avenue in the City of , County of Penobscot , and State of Maine WITNESSETH: WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency has undertaken a program for the clearance and reconstruction or reh bilit�tion of slum and blighted e s n the City, and in this connection is engaged in carrying out an urban renewal project known as the "Stillwater Park Urban Renewal Project" (hereinafter called "Project") in an area (here- inafter called 'Project Area") located in the City; and WHEREAS, the Agency has offered to sell and the Redeveloper is willing to purchase certain real property located in the Project Area and more particularly described in Schedule A annexed hereto and made a part hereof (which property as so described is herein- after called 'Property") and to redevelop the Property for and in accordance with the uses specified in the Declaration of Restrictions recorded in Penobscot Registry of Deeds, Book 2113, Page 835 and in accordance with the agreement; and WHEREAS, the Agency believes that the redevelopment of the Property Pursuant to the Agreement, and the fulfillment generally of the Agreement, are in the vital and best interests of the City and the health, safety, morals, and welfare of its residents, -1- and in accord with the public purposes and provisions of the applicable Federal, State, and local laws end requirements under which the Project has been undertaken ..nd is being assisted: NOW, THEREFORE, in consideration of the premises and the mutual obligations of the parties hereto, each of them does hereby covenant and agree with the other as follows: SEC. I. SALE: PURCHASE PRICE. Subject to all the terms, covenants and conditions of the Agreement, the Agency will sell the Property to the Redeveloper for, and the Redeveloper will purchase the Property from the Agency and pay therefor, the amount of Eight Hundred and -- Polls 80000 hereinafter calledPhase Price"ob). paid 1n cash or by certified check simultaneously with the delivery of the deed con- veying the Property to the Redeveloper. SEC. 2. CONVEYANCE OF PROPERTY (a) Form of Deed. The Agency shall convey to the Redeveloper title to the Property by Warranty Deed (hereinafter called "Deed"). Such conveyance and title shall, in addition to the condition subsequent provided for in Section 704 hereof, and to all other conditions, covenants , and restrictions set forth or referred to elsewhere in the Agreement, be subject te the terms, if any, set forth on said Schedule A. attached hereto. (b) Time and Place for Delivery of Deed. The Agency shall deliver the Deed and possession of the Property to the Rede- veloper On December 1, 1971 19171. or on such earlier date as the parties hereto may mutually agree in writing. Conveyance shall be made at the principal office of the Agency and the Redeveloper shall accept such conveyance and pay to the Agency at such time and place the Purchase Price. (c) Apportionment of Current Taxes. The portion of the went taxes, 1f any, on t e Pr -5 operty which are a lien on the date of delivery of the Deed to the Redeveloper allocable to buildings and other improvements which have been demolished o removed from the Property by the Agency shall be borne by the Agency, and the portion of such current taxes allocable to the land shall be apportioned between the Agency and the Redeveloper as of the date of the delivery of the Deed. if the amount of the current taxes on the Property is not ascertainable on such date, the apportionment between the Agency and the Redeveloper shall be on the basis of the amount of the most recently ascertainable taxes on the Property, but such apportionment shall be subject to final adjustment within thirty (30) days after thedate the actual amount ofsegIr current tv::es ,is. ascertained. -2- (2) Evidence satisfactory to the Agency that the interim mortgage loan to assist in financing the Construction of the Improvements has been initially closed; (3) A copy of the contract between the Redeveloper and the general contractor for the construction of the Improvements, certified by the Redeveloper to be a true and correct copy thereof; and (4) A copy of the contract bond provided by the general contractor in connection with the aforesaid construction contract which bond shall be in a penal sum equal to not less than ten percent (10%) of the contract price under said con- struction contract, certified by the Redeveloper to be a true and correct copy thereof. SEC. 4. TIME FOR COMMENCEMENT AND CMPLETION IMPROVEMENTS. The construction Of the Improvements referred t0 in Section 301 shall be commenced in any event within six (6) months after the date of the Deed, and, except as otherwise provided for in the Agreement, shall be completed within eighteen (18) months after such Deed date. SEC. 5 TIME FOR CERTAIN OTHER ACTIONS. (a) Time for Submission of Construction Plans. The time within which the Redeveloper shall submit its "Construction Plans" (as defined in Section 301 hereof) to the Agency in any event, pursuant to Section 301 hereof, shall be no later than one hundred twenty (120) days from the date of this Agreement. (b) Time £or submission Of Corrected Construction Plans. Ex cept as provided SMS c) of this section 5, the time within which the Redeveloper shall submit any new or corrected Construction Plans as provided for in Section 301 hereof shall be not later than sixty (60) days after the date the Redeveloper receives written notice from the Agency of the Agency's re- jection of the Construction Plans referred to in the latest such notice. (C) Maximum Timefox A Yoved Construction Plans. In any event, the tome within which the Redeveloper shall submit Construction Plans which conform to the requirements of Section 301 hereof and are approved by the Agency shall be not later than ninety (90) days after the date the Redeveloper receives written notice from the Agency of the Agency's first rejection Of the original Construction Plans submitted to it by the Redeveloper. (d) Time for Agency Action on Chance in Construction Plans. The time wrthxn which the Agency may reject any change in the Construction Plane, as provided in Section 302 hereof, shall be forty-five (45) days after the date of the Agency's receipt of notice of such change. M (e) Time for Submission of Evidence of Sanity Capital and Mortgage F4nanclnq. The time within which t e Redeveloper shall submit to the Agency, in any event, evidence as to equity capital and any commitment necessary for mortgage financing, as provided n Section 303 hereof, shall be not later than sixty (60 ) days after the date of written notice to the Redeveloper of approval of the Construction Plans by the Agency or, if the Construction Plans shall be :deemed.. to have been approved as provided in. Section 301 hereof, after the expiration of thirty (30) days following the date of receipt by the Agency of the construction Plans as deemed approved. SEC. 6 PERIOD OF DURATION OF COVENANT ON USE. The covenant pertaining to the uses of the Property, set forth in Section 401 hereof, shall remain i effect from the date of the Deed until January 22, 2022, the period specified or referred to in the Declaration of Restrictions or until such date thereafter to which it may be extended by proper amendment of the Declaration of Restrictions, on which date, as the case may be, such covenant shall terminate. SEC. ]. NOTICES AND DEMANDS. A notice, demand, or other communication under the Agreement by either party to the other shall be sufficiently given or de- livered if it is dispatched by registered or certified mail, post- ageprepaid, return receipt requested, or delivered personally, and (1) in the case of the Redeveloper, is addressed to or delivered personally to the Redeveloper at 502 Stillwater Avenue Old Town, Maine and (11) in the case of the Agency, is addressed to of delivered Personally to the Agency at City Hall. Bangor. Maine or at such other address with respect to either such party as that party may, from time to time, deaignote in writing and forward to the other as provided in this Section. SEC. 8 SPECIAL PROVISIONS SEC. 9 MODIFICATION OF PART II. The following amendments and modifications are hereby made in the terms, covenants and conditions forming Pat II hereof SEC. 10. COUNTERPARTS. The Agreement is e. cuted in three (3) counterparts, each of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Agency has caused the Agreement to be duly executed inits n and behalf by its Executive Director and its seal to be hereunto duly affixed and attested by its Executive Director I and the -5- Redeveloper has caused the Agreement to be duly executed in its name and behalf by its President and its Corporate seal to be hereunto duly affixed and attested by its Secretary, on or as Of the day first above written, g ktikti �v s k �,/d�(Aed�e eelope�r�/� ey 44,:< =_� rr/� K� Ilea damp Attest: Attest: Attest: (Secretary) A True Copy, Attest: -6- (City Clerkl I6ecretary In City Council council order No-. Attest: Attest: (Secretary) A True Copy, Attest: -6- (City Clerkl SCHEDULE A Description of Property All that certain parcel or parcels of land located in the City of Bangor, County of Penobscot, State of Maine, more particularly described as follows: Lot $103 as shown on Plan of Land entitled "Stillwater Park Project, Hangr, County of Penobscot, Maim, Urban Renewal Authority of the City of Bangor, Project Me. R-4" consisting of nine (9) pages and recorded in Penobscot Registry of Deeds in Plan Book 24, Pages 1-9 inclusive. Subject to the following covenants, restrictions and easements: (if none, so state) Declaration of Restrictions for Stillwater Park Project, recorded in Penobscot Registry of Deeds, Vol. 2113, Page 835. further obligations of the Agency and the Redeveloper -7-