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HomeMy WebLinkAbout1972-08-14 257-Z ORDER257-2
Introduced by Councilor aroused, Aug. 14, 1972
CITY OF BANGOR
(TITLE.) (DCilPrf..... Approving Proposed Congeact for.. Sale of Land in the Stillwater
Park Urban Renewal Project - Parcel Sea. 83, 84, 119 & 120
By Na City CouneB of da ISIS ojBanper:
ORDERED.
TUT UNEREAS, the Urban Renewal Authority of the City Of Ungar proposes
to eater into a contract for the Sale of parcels numbered 83. 84. 119 & 12C
in the Stillwater Park Urban Renewal Project with Sockbeson BYos.. Inc.
, and
WHEREAS, the said Sockbeson BYOS. Inc.
has offered to pay the -sum of Thirteen Hundred Fifty Dollars ($1,350-00)
for said parcel , said price being the Ointment approved price for said parcel
as established by the Urban Renewal Authority and approved by the Department of
Housing and Urban Development; and
WHEREAS under the provisions of Chapter 168 of the Private and
Special Lave of Elaine, 1957, as amen ed, City Council approval of all contracts
for the sale of land within the project area is required; add
WHEREAS, the Urban Renewal Authority has filed a copy of the
proposed contract with SOckbeson Bros. , Inc. in the office of the City Clark;
NOW, UVEREPORE, BE IT ORUEREO:
THAT the proposed contract on file with the City Clerk be and
is hereby approved.
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RE CEIVED
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Sale of Land in Stillwater Park V.R.
......................................
IN CITY CWNCIL
Aug. 14, 1972
PASS®
Project - Parcel Nos. 63,84,119 5 120
......................... 4............
Intitduced and filed by
Y Co .
STILLWATER PAM PROJECT
PROJECT NO. NE. R-4
PART I
of
CONTRACT FOR
SALE OF LAND FOR PRIVATE REDEVELOPMENT
(OFFER AND ACCEPTANCE)
By and Between
Urban Renewal Authority of the City. of Bangor
and
nkbwa
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
7.
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 -6209B, 1-64) annexed hereto and made a part hereof (which Part I
and Part II are together hereinafter called "Agreement"), made
on or as of the 26th day of .Nly 19 72, by
and between the Urban Renewal Authorih of the Cii o£ Ban or, a
c
public body corporate which, together with any successor public
body or Officer hereafter designated by Or pursuant to law, is
hereinafter called "Agency"), established pursuant to Chapter 168
of the Private and Special caws of the State of Maine, 1957, as
amended (hereinafter called "Urban Renewal Act") and having its
office at City Hall in the City of Bangor (hereinafter called
"City"), State of Maine, and the Sockbeaon Bros. Inc.
corporation organized and
isting under
exthe 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 01d Town ,
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 rehabilitation of slue and blighted ore '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") 1 area (here-
inafter called "Project Area") located in the City;annd
WHEREAS, the Agency has offered to sel- 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 2111,
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 healthsafety, morals, and welfare of its residents,
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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 end is being assisted:
NOW, THEREFORE, in consideration of the promises and the
mutual obligations of the parties hereto, each Of them does hereby
covenant and agree with the other as follows:
SEC. 1. 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 Th' -O a Hundred and Fi£ty and—
-------------- ------ 00/lowollaY6
hereina£ter called "Pure ase Price", to be paid an 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 t e Presby 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, he subject na 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 o the Property to the Rede-
veloper on Au ust 15 1972 , or on such
earlier date as the partvea ereto 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) AADpsortionment of Current Taxes. The portion of the
current taxes, if any, on the property 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 or
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
s 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
tmOWt10£.:enC11C CUrient taxes ia%ascertained.
2
(d) Recordation of Deed. The Redeveloper shall promptly
file the Deed for recordation in the Penobscot Registry of Deeds
at Bangor, Maine. The Redeveloper shall pay all coats (including
the cost of the Federal documentary stamp tax on the Deed, for
which stamps in the proper amount shall be affixed to the Deed by
the Redeveloper) for so recording the Deed.
(e) Pu h OblAt
t' f theAgency nd the Redeveloper.
See Schedule A.
SEC. 3. GOOD FAITH DEPOSIT.
(a) Amount. The Redeveloper has, prior to or simultaneously
with the execution of the Agreement by the Agency, delivered to
the Agency a good faith deposit of cash or a certified check
satisfactory to the Agency in the amount Of One Hundred ift -r
x; „nr and ---------00100 Dollars (H58 001
na£tex called "Deposrt", as security for the performance of the
obligations of the Redeveloper to be performed prior to the return
of the Deposit to the Redeveloper, or its retention by the Agency
s liquidated damages, or its application on account of the
Purchase price as the case may be, in accordance with the
Agreement. The Deposit, i£ cash or certified check, shall be
deposited in an eccount of the Agency in a bank Or trust company
selected by it.
(b) Interest. The Agency shall be under no obligation to
pay or earn interest on the Deposit, but if interest is payable
thereon such interest when received by the Agency shall be
promptly paid to the Redeveloper.
(c) alication to Purchase Price. Upon written request of
the Redeveloper, the amount of the Deposit, made in Cash or by
certified check, shall be applied on account of the Purchase
Price at the time payment of the Purchese Price is made.
(d) Retention by AgancV. upon termination of the Agree-
ment as provided in Section 703 hereof, the Deposit, if cash, or
bonds or similar obligations of the Un ted States, including all
interest payable thereon after such termination, or, if a surety
bond, the proceeds thereof, shall be retained by the Agency 05
provided in Section 703 hereof.
(e) Return to Redeveloper. Upon termination of the Agreement
as provided in Section 702 hereof, the Deposit shall be returned
to the Redeveloper by the Agency as provided in Section 702 hereof.
if the Agreement shall not have been terminated as in Section 702
or 703 hereof provided, the Agency shall return the Deposit to the
Redeveloper upon receipt by the Agency of the following;
(1) A copy of the commitment or ooaritments obtained by
the Redeveloper for the mortgage loan Or loans t0 assist in
financing the construction of the Improvements (as defined in
Section 301 hereof), certified by the Redeveloper to be a true and
correct copy or Copies thereof;
(e) Time for Submission of Evidence of Equity Capital and
Mo{ttva9E Fincing. The time within which the Redeveloper shall
submrt to theanAgency, in any event, evidence as to equity capital
and any commitment necessary for mortgage f_nencing, as provided
in Section 303 hereof, shall be not later than thirty (30 )
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 :deemedto 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 r 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. 7. 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 or 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, design.te 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 executed 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 and the
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Redeveloper has caused the Agreement to be duly executed inits
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;
kbm 13roS
(Re eve oiler
Attest:
(Secretary)
In City council council Order No._
Attest:
Attest:
(Secretary)
A True Copy, Attest:
r,.
SCBEDULE 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:
Lots 83, 84, 119 and 120 as shown on Plan of band entitled
"Stillwater Park Project, Bangor, County of Penobscot, Maine
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)
further obligations of the Agency and the Redeveloper
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