HomeMy WebLinkAbout1971-12-27 66-Z ORDERIntroduced by Councilor Digney, Pec."M
CITY OF BANGOR ����
(MILE.) MrbBTf_.. ApprovknR Proposed Conpract for sale of Land in the Stillwater
Park Urban Renewal Project Parcel No . 166
By the City Caused of the LVW of Banase:
ORDERED,
TUT WHEREAS, the Urban Renewal Authority of the City of Banat proposes
to enter into a contract for the sale of parcel numbered 166
in the Stillwater Park Urban Renewal Project with J. P. Beaulieu, Inc.
, and
WHEREAS, the said J. P. Beaulieu, Inc.
has offered to Pay the son of one 'Thousand and 00/100 Dollars ($1,000.00)
for said parcel said price being the minemm approved price for said "real
ad established by, the Urban Renewal Authority and approved by the Uspartment of
Housing and Urban Development 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
WHEREAS, the Urban Renewal Authority has filed a copy of the
proposed contract with J. P. Beaulieu, Inc. In the office of the City Clark;
NOW, THEREFORE, RR IT ORDERED:
THAT the proposed contract on file with the City Clerk be and
is hereby approved.
IN CIW , COUNCIL
Dec. 27, 1971
PASSED
66-Z
ORDER
Title,
Sale of IaM is Stillwater Park U.R.
................................ 0.....
Project Pazcel No. 166
duced mE flied by
STILLWATER PARR PROTECT
PROTECT NO. ME. 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
�7 and
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
e.
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 12 (Form
H-62098, 1-64) annexed heretode a part hereof (which Part I
and Part II are toger herein or call Agreement') made
on or as of the ii day of �LLN/ , 19 /�, by
and between the Urban Renewal Authority o£ the Cit of Bangor, a
public body corporate kwnxcn, 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 Laws of the State of Wine, 1957, as
ended (hereinafter called "Urban AcY�1 and having its
office at City Hall in the City o B gw (h{Yp iDa f_ ;gr llem e
"City"), State of Maine, and the � ���,1K'2fGC! i./N
the "Red
business
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 alum and blighted ore
s
in 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 a area (here-
inafter called "Project Area") located in the City; an
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, =_nd the fulfillment generally
of the Agreement, are in the vital and best interests of the
City and the health, safety, morale, 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 and 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: PURCEASE PRICE.
Subject to all the terms, covenants and conditions of the
Agreement, the Agency will sell the Prope y to the adev loper foo,
and the Redeveloper will purchaseCs pmot the AgencYa
and pay therefor, the amount of /%/ifi /Lf��lfA L�'acP N
Dollars
bereinafter called "Purchase Price", to be pard in cash or
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, he subject m the terms, if any, set
forth on said Schedule A, attached hereto.
(b) Time and Place for Deliver v 0f Deed. The Agency shall
deliver the Dee bpd ossessio of the Property to the Rede-
veloper on T /./ % ] , 19 , or on such
earlier date as the partiesheret�o 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) A rtio:ment of Current Taxes. The portion of the
current taxes, if any, on t e 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 toa'e allocable to the
land shall be apportioned between the Agency end 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 apportio:unent shall he subject to
final adjustment within thirty (30) days after thedate the actual
Prover V Of scautc current. tc Res is entertained.
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(d) Recordation of Deed. The Redevelopex shall promptly
file the Deed for recordation in the Penobscot Registry of Deeds
at Bangor, Maine. The Redeveloper shall pay all costs (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) £Or so recording the Deed.
(a) Further Obli ations of the Agency and the Redeveloper.
See Schedule A.
SEC. 3. GOOD FAITH DEPOSIT.
(a) Amount. The Redeveloper has, prior to or simultaneously
with the a cation of the Agreement by the Agency, delivered to
the Agentyxa good faith deposit of cash or a ca ti " d chheck® iV
satisfactory to the Agency in the amount_Of
Dollars b U here-
nafter called "Deposit", as security for tfa Perfo mance 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
as liquidated damages, or its application on account of the
Purchase Price as the case may be, in accordance with the
Agreement. The Deposit, if cash or certified check, shall be
deposited in an account 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) Application 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 Purchase Price is m.:de.
(d) Retention by Agency. Upon termination of the Agree-
ment as provided in Section 703 hereof, the Deposit, if cash, or
bonds or similar obligations of the United States, including all
interest payable thereon after such termination, or, if a surety
bond, the proceeds thereof, shall be retained by the Agency ds
provided in Section 703 hereof.
(e) Return to Redeveloper. Upon termination of the Agreement
s provided in Sectio, of, 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 asin 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 commitments obtained by
the Redeveloper for the mortgage loan or loans to 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;
(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. TINE FOR COMMENCEMENT AND COMPLETION IMPROVEMENTS.
The construction of the Improvements referred to 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 TINE 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 for Submission of Corrected Construction Plane.
Ex cept as provided in Paragraph (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 Time forA raved Construction Plans. In any
event, the time within which t e 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 Change in Construction Plane.
The time within which the Agency may reject any change in the
Construction Plans, 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.
(e) Time for Submission of Evidence of EguitY Capital and
Mortgage Financing. The time within which the Redeveloper shall
submit to the Agency, in any event, evidence as to equity capital
and any commitment necessary for mortgage finch . g' as providRd
in Section 303 hereof, shall be not later than J 11 i(9e )
days after the date of written notice to the Redevelo er of approval
of the Construction Plans by the Agency or, if the Co struction
Plane shall be :deemed tohave 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 Plana as deemed
approved.
SEC. 6 PERIOD OF DURATION OF COVENANT ON USE.
Theovenant pertaining to the uses of the Property, set forth
in Section 401 hereof, shall remain in effect from the date of the
Deed until January 22, 2022, the period specified or referred to
n 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-
age prepaid, return receipt reuuested, or delivered personally, and
(nCaYe 0£fJl¢,Redeveloper , i6d tb OY
d e onzlI to— devel er at /
and
(11)n the case of the Agency, is
addressed to or delivered
personall 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, designate in writing and forward to the other as
provided in this Section.
SEC. 8 SPECIAL PROVISIONS
/rONC-
SEC. 9 MODIFICATION OF FART II.
The following amendments and modifications are hereby made in
the terms, covenants and conditions forming Part II hereof
SEC. 10. COUNTERPARTS.
The Agreement is
executed in three (3) counterparts, each of
which shall constitute one and the same instrument.
IN
IN WITNESS WHEREOF, the Agency has caused g0 Be ntt�to be
duly., cured 'n ire name and behalf by its A
andjiWe yjo be hereunto duly af£ired and attested by its
/(J,!/i ��pq and the
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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.
QI?AAt(uc (!�
(Redeveloper
Attest:
(Secretary)
In City Council - Council order No._
Attest
Attest:
(Secretary
A True Copy, Attest:
city Clerk
. 1 4
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 165 as shown an Plan of Land entitled "Stillwater Park Project,
Bangor, County of Penobscot, Maine, Urban Renewal ,Authority of the
City of Bangor, Project se. 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
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