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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