Press Alt + R to read the document text or Alt + P to download or print.
This document contains no pages.
HomeMy WebLinkAbout1972-09-25 299-Z ORDER299-z
Introduced by Councilor Brountas, Sept 25, 1972
CITY OF BANGOR
c.
(TITLE.) (frber, A4[hor,L,e),vg Sa1g of„Indy9 trial Land. to Ge orgta Pap ific
By LM City Cownid of fge ME of Bangor:
THAT the City laa,ager is hereby authorized and directed to execute,
n behalf of the City of Bangor, a sales contract, copy attached, with
Georgia-Pacific Corporation for the purchase by Georgia-Pacific of certain
eat estate located off Bennett Street and shown on a plan attached to said
contract as Exhibit A.
BE IT FURTHER ORDERED,
THAT the City Treasurer is hereby authorized and directed, upon
performance by both parties of the teras and conditions of said contract,
as provided therein, to execute and deliver a quit -claim deed (release deed)
to Georgia-Pacific for said parcel.
I17Z YEP 21 W 91 U
CITY G. ERK'S OFFICE
IN CITY COUNCIL
Sep . 25, 1972
PASSED
299-Z
ORDER
Title,
.R@;f.99.;nCIA{i;i;.W.4 co ce4591?:..
Pacifc Cw .
... ...i ... ..R .........................
Introduced and filed by
CITYC �'/w•`1 �^/
I• '. •,.. ..
v Councilman
�i
SALE CONTRACT
�I
it THIS AGREEMENT, made and entered into as of the
i; 4ay of 1972, by and between CITY OF BANGOR,
II hereinafter called "Seller," and GEORGIA -PACIFIC CORPORATION,
a Georgia corporation, hereinafter called "Buyer."
WITNESSETH
In consideration of the terms, covenants and conditions
herein contained, the parties hereto mutually agree as follows:
1. Seller hereby agrees to sell and Buyer agrees to buy
the approximately 25 acres of land situated in the City of
Bangor, County of Penobscot, State of Maine, outlined in red
on the sketch attached as Exhibit A,which by this reference
is made a part hereof, for the total purchase price of $37,800.00.
Buyer agrees to pay Seller $300.00 at the time of execution
of this Agreement, receipt of which is hereby acknowledged by
Seller, and will pay the balance of the purchase price in cash
at the time of closing.
2. Buyer, as soon as possible. after the execution of this
Agreement, will order an original accurate survey of the property
and upon completion will forward a copy to Seller. Seller will
immediately deliver to Buyer upon receipt of the copy of the
Survey a letter describing the existence and location of all
easements and encroachments as may be found in City records.
3. Buyer will thereafter immediately request a preliminary
title report from a title insurance company satisfactory to Buyer
Page 1 - SALE CONTRACT
Covering the above-described property. Within thirty (30) days
after receipt of such report Buyer shall advise Seller of any
objectionable encumbrances or defects. Buyer shall have the
option to:
(a) waive in writing such encumbrances or defects
or any part thereof, or
(b) refuse to accept title and in writing make demand
for the return of the 9$500 paid hereunder to whici
Buyer shall be entitled, and Seller shall immedi-
ately return the same and the rights of the
respective parties hereto upon remittance of said
deposit by Seller to Buyer shall terminate.
4. when the title is satisfactory to Buyer under Para-
, graph 3 and the conditions of Paragraph 8 have been met and
upon tender (in escrow at the option of either party, cost to
be shared equally) of the balance of the purchase price, Seller
shall convey said premises to Georgia-Pacific Corporation, a
Georgia corporation, or its nominee named in writing prior to
the date of closing by release deed (quick claim without
covenants). Said deed shall be free of exceptions and encum-
brances other than:
(a) current real property taxes assessed but not
yet payable,
(b) utility easements of record not limiting the
full use of the property for building material
warehousing storage and sale,
(c) any easements or rights-of-way as may be
necessary to Preserve existing utility lines,
streets, and/or rights-of-way,
(d) all restrictions and conditions contained in a
deed, dated December 14, 1962, conveying said
premises to the City of Bangor and recorded i
Volume 1876, Page 357, Penobscot Registry of Deeds.
5. All real property taxes shall be prorated as of the
date of closing, and Buyer shal' pay for the Buyer's title
insurance policy and Seller shall pay all applicable stamp,
excise and transfer taxes. Buyer shall pay the recording fee
for said deed.
Page 2 - SALE CONTRACT
6. The date of possession by Buyer shall be the date of
closing unless a different date is agreed thereto by the parties
in writing.
7. Buyer's agreement to purchase herein is subject to
the following further conditions:
(a) procurement by Buyer of an opinion of an engineer
of its selection that the soil condition and sub-
strata support of the premises are such that Buyer
will encounter no substantial additional cost i
construction of the warehouse for building materials
because of the unusual condition of the soil or
substrata,
(b) the obtaining of a sidetrack agreement whereby a
spur track to serve the premises may be installed
under terms and conditions satisfactory to Buyer
and that Buyer shall have the unqualified right
to uninterrupted railroad service over such spur
track under through rates and conditions applicable
to the Bangor, Maine, area from time to time
established by the railroad and without additional
switching charges,
(c) Buyer being satisfied that zoning laws, ordinances
and regulations and building codes permit the use
of the premises for the business of building
material warehousing and the construction thereon
of an appropriate building or buildings and Buyer
obtaining approval of its project by the State of
Maine Environmental Improvement Commission,
(d) Buyer being satisfied prior to closing that water,
sanitary and drainage sewer, gas and electric power
service or equivalent services are available to or
will be extended to serve the property above
described at a cost acceptable to Buyer and that
Buyer can connect its property therewith and receive
service therefrom applicable in the general area
and without incurring any charges or expenses other
than usual and ordinary connection charges,
(e) Buyer being assured that it has direct access to
the public roads maintained by the City.
8. It is understood and agreed that in the event any of
the foregoing conditions set out in Paragraph 7 have not been
met within thirty (30) days from the date of survey, title
report and soil test report are received. Buyer may demand and
be entitled to refund of the amount paid hereunder and upon
such payment being made all rights of the parties under this
Page 3 - SALE CONTRACT
Agreement shall terminate. I£ Buyer fails to notify Seller in
writing within said thirty (30) days that it is not reasonably
satisfied with one or more conditions, Buyer shall be deemed to
be satisfied with such conditions.
9. Buyer shall not be obligated for any commissions in
connection with this sale.
IN WITNESS WHEREOF, the parties have executed this
Agreement the day and year first above written.
CITY OF BANGOR
"Sellers
ATTEST:
GEORGIA -PACIFIC CORPORATION
"Buyer"
ATTEST:
Assistant Secretary
Page 4 - SALE CONTRACT