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HomeMy WebLinkAbout1971-04-12 161-Y ORDER161-Y Introduced by Councilor Baldacci, April 12, 1971 /p' CITY OF BANGOR W - (TITLE.) rbfXr._ Approving Proposed ConFTact for. Bale of Lana. in the Stillwater Park Urban Renewal Project Parcel No Di By the City Coattail of W 09y ofBanpor: ORDERED, THAT WHRREIS, the Urban Renewed Authority of the City of Bangor proposes to enter into a contract for the sale of parcel mmbered 31 in the StillwaterParkUrban Renewal Project with Philip and Robert Fougere , and WHEREAS, the said Philip & Robert Founere has offered to pay the am of Eleven Hundred and 00/100noll sra ftl Inn no) for said parcel said price being the ninimm 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 L60 of the Private and Special Laws of Maine, 1957, as mended. City Council approval of all contracts for the sale of land within the project area is required; and HHEREAS, the Urban RenewalpMiP yjty has filed A copy of the proposed contract with Philip A Robert 99�e in the office of the City Clerk: NtlA, THEREFORE, BE IT URDERED: THAT the proposed contract on file with the City Clerk be and is hereby approved. CovED 1971 APR -a 'r 4' 36 C1,I CI.ERN SP9M4ICE ,y s IN CITY COUNCIL April 12, 1971 PASSED 161-Y ORDER naP Sale of Earl in Stillwater Park UR ........................ IYtloA�LW Rod ftby Revised April 16, 1968 CONTRACT FOR SALE OF LAND (OFFER AND ACCEPTANCE) STILLWATER PARR PROJECT PROJECT NO. ME. R-4 Date January 18 1971 TO: Urban Renewal Authority of the City of Bangor ("Seller") City H611 Bangor, Maine 1. Philip & Robert FouOere herein called "Buyer", offers to buy, subject to the terms set forth herein, the following described land: Lot numbered 31 as shown on Plan of Land entitled "Stillwater Par�ject, Bangor, Penobscot County, 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 to 9, inclusive. 2. Buyer will pay Eleven Hundred and 00/100 Dollars ($1,100.00 ) for said land in cash within one hundred and twenty (120) days after the acceptance of this offer by Seller. The Authority may grant additional time upon written request from the Buyer. 3. Conveyance of said land shall be made by Warranty Deed, subject to all easements of record, the Declaration of Restric- tions for Stillwater Park Project, Bangor, Maine, R-4, which was recorded in Volume 2113, page 385 of Penobscot Registry of Deeds, and to those conditions set forth hereinafter to which Buyer expressly agrees. (a) (i) The Buyer herein covenants by and for himself, his heirs, executors, administrators and assigns and all persons claiming under or through them, that Buyer and such heirs, exe- cutors, administrators and assigns and all persons claiming under or through them shall: -2- (1) Devote the Property to and only to and in accordance with the uses specified in the Declaration of Re- strictions and as it may be hereafter amended from time to time; (2) Not discriminate upon the basis of race, color creed or national origin in the sale, lease or rental or in the use or occupancy of the Property or any Improvements erected or to be erected thereon, or any part thereof. (ii) It is intended and agreed that the agreements and covenants provided in this section shall be covenants running with the land and that they shall, in any event, and without re- gard to technical classification or designation, legal or other- wise, and except only as specifically provided in this Agreement, be, to the fullest extent permitted by law and equity, binding for the benefit and in favor of, and enforceable by, Seller, its successors and assigns, the City of Bangor, any successor in interest to the Buyer of the Property, and the owner of any other land (or of any interest in such land) in the Project Area which is subject to the land use recuirements and restrictions of the Declaration of Restrictions, and the United states (in the case of the covenant provided in subdivision (2) of subsection (i) hereof) against the Buyer, his successors and assigns, to or of the Property or any interest therein, and any party in possession or occupancy of the Property. It is further intended and agreed that the agreement and covenant provided in clause (i) (1) shall remain in effect until January 22, 2022, and during the term of any eytension thereof, (at which time such agreement and covenant shall terminate), end those provided in clause (i) (2) shall re- main in effect without limitations as to time: Provided, that such agreements and covenants shall be binding on Buyer himself, each successor in interest or assign, and each party in possession or occupancy, respectively, only for such period as he shall have title to or an interest in or possession or occupancy of the Property. (iii) In amplification, and not in restriction, of the provisions of the preceding subsection, it is intended and agreed that Seller and City of Bangor shall be deemed a beneficiary of _3_ the agreements and covenants provided in subsection (i) of this section both for and in its own right and also for the purposes of protecting the interests of the community and the other parties, Public or private, in whose favor or for woose benefit such agreements and covenants have been provided. Such agreements and Covenants shall run in favor of Seller and City of Bangor for the entire period during which agreements and Covenants shall be in force and effect, without regard to whether Seller and city of Bangor has sat any time been, remains, or is an owner of any land or interest therein to, or in favor of which such agreements and covenants relate. Seller and/or City of Bangor shall have the right, in the event of any breach of any such agreement or covenant, to exercise all the rights and remedies and to maintain any actions at law or suits in equity or other proper proceedings to enforce the curing of such breach of agreement or covenant, to which it or any other beneficiaries of such agreement or covenant may be entitled. (b) To construct one (and not more than one) standard dwelling house (single family) upon the'land which will meet the minimum requirements as set by City of Bangor ordinances and the Declaration of Restrictions. Construction must start within six (6) months of the date the Deed is recorded in the Buyer's name, and completion must be accomplished within twelve (12) months of date of commencing construction. Plans for said dwelling house will be subject to review by Seller prior to con- veyance of the land. Within ninety (90) days of the date of the acceptance of the offer by the Seller, Buyer agrees to submit construction plane for approval by Seller, and evidence satisfac- tory to the Seller of Buyer's ability to finance the construction of the proposed Improvements. (c) (i) In the event that prior to Completion of the Improvements as certified by Seller: (1) Buyer (or successor in interest) shall de- in or violate his obligations with respect to the construction of the Improvements (including the nature and the dates for the beginning and completion thereof), or shall abandon or substan- -4- tially suspend construction work, and an,, such default or viola- tion, abandonment or suspension shall not be cured, ended or remedied within three (3) months (six (6) months if the default is with respect to the date for completion of the improvements) after written demand by the Seller so to do, or (2) There is, in violation of this Agreement, any transfer of the Property or any change in ownership of the Property, and such violation shall not be cured within thirty (30) days after written demand by the Seller to Buyer; then Seller shall have the right to re-enter and take possession of the Property and to terminate (and revert to the Seller) the estate conveyed by the Warranty Deed to the Buyer, it being the intent that the conveyance of the Property to the Buyer shall be made upon a condition subsequent to the effect chat in the event of any default, failure, violation or other action or inaction by the Buyer specified in clauses (1) and (2) of this subsection (i) failure on the part of the Buyer to remedy. and or abrogate such default, failure, violation or other action or inaction within the period and in the manner stated in said clauses, seller at its option may declare a termination in favor of the Seller of the title, and of all the rights and interest in the Property con- veyed by the Warranty Deed to the Buyer and that such title and all rights and interest of the Buyer and any assigns or successors in interest in the Property shall revert to the Seller: Provided, that such condition subsequent and any revesting of title as a result thereof in Sailer shall always be subject to and limited by, and shall not defeat, render invalid or limit in any way (1) the lien of any mortgage authorized by this Agreement and exe- cuted Yet the sole purpose of obtaining funds to construct the Improvements, and (2) any rights or interest provided in this Agreement for the protection of she holders of such mortgages. (ii) Seller shall have the right to institute such actions or proceedings as it may deem desirable for effectuating the purposes of this section (c), including also the right to execute and record or file with the Penobscot Registry of Deeds, a written declaration of the termination of all rights and title Sfl of Buyer and his successors in interest and assigns in the Property and the revesting of title thereto in the Seller; Provided, that any delay by the Seller in instituting or prosecuting any such actions or proceedings or otherwise asserting its rights under this section shall not operate as a waiver of such rights or to deprive it of or limit such rights in any way (it being the in- tent of this provision that Seller should not be constrained so as to avoid the risk of beingdep£ived of or limited in the exercise of the remedy provided in this section (c) because of concepts Of waiver, laches or otherwise) to exercise such remedy at a time when it may still hope otherwise to resolve the problems created by the default involved, nor shall any waiver in fact made by Seller with respect to any specific default by Buyer under this section (c) be considered or treated as a waiver of the rights of Seller with respect to any other defaults by Buyer under this section or with respect to the particular default except to the extent specifically waived. (d) The Buyer represents and agrees that his purchase of the Property end his other undertakings pursuant to this Agreement are and will be used for the purpose of redevelopment of the Property and not for speculation in land holding. The Buyer further recognizes that the qualifications and identity of the Buyer are of particular concern to the community and the Seller. The Buyer further recognizes that it is because of such qualifications and identity that the Seller is entering into this Agreement with the Buyer, and in so doing is further willing to accept and rely on the obligation of the Buyer for the faithful performance of all undertakings and Covenants hereby by him to be performed without reouiring in addition any surety bond or simi- lar undertaking. For the foregoing reasons, the Buyer represents and agrees for himself and any successor in interest that except only by way of security for and only for the purpose of obatining financing necessary to enable the Buyer or successor in interest to perform his obligations with respect to making the Improvements under this Agreement, the Buyer (except as so authorized) has not 'made or created and that he will not, prior to the proper comple- -6 - tion of the Improvements as certified by the Seller, make or create or suffer to be made or created any total or partial sale, assignment, conveyance or lease or any trust or power or transfer in any other mode or form of or with respect to this Agreement or the Property or any interest therein or any contract or agreement to do any of the same without prior written approval of the Seller. The Seller shall be entitled to require as conditions to any such approval that: (i) Any proposed transferee shall have the qualifica- tions and financial responsibility, as determined by the Seller, necessary and adequate to fulfill the obligations undertaken in this Agreement by the Buyer; (ii) There has been submitted to the Seller for review, and the Seller has approved, all instruments and other legal documents involved in effecting transfer; (iii) The consideration payable for the transfer by the transferee or on his behalf shall not exceed an amount representing the actual cost (including carrying charges) to the Buyer of the Property and the improvements, if any, theretofore made thereon by him; it being the intent of this provision to preclude assignment of this Agreement or transfer of the Property for profit prior to the completion of the Improvements and to provide that in .the event such assignment or transfer is made (and not cancelled), the Seller shall be entitled to increase the purchase price to the Buyer of the Property provided in Section 2 of this Agreement by the amount that the consideration payable for the assignment or transfer is in excess of the amount autho- rized in this paragraph, and such consideration shall, to the extent it is in excess of the amount so authorized, belong and be paid to the Seller. (iv) The Buyer and his transferee shall comply with such other conditions as the ;eller may find desirable in order to achieve and safeguard the purposes of Chapter 168 of the Private and Special Laws of Maine, 1957, as amended, and the Declaration of Restrictions as it may be amended, and the Federal Housing Act of 1949, as amended: _7_ Provided, that in the absence of specific written agreement by the Seller to the contrary, no such transfer or approval by the Seller thereof shall be deemed to relieve the Buyer or any other Party bound in any way by this Agreement or otherwise with respect to the construction of the Improvements from any of his obliga- tions with respect thereto. (e) None of the provisions of this Agreement are intended to or shall be merged by reason of any Deed transferring title to the property from the Seller to the Buyer or any successor in interest, and any such Deed shall not be deemed to effect or im- pair the provisions and covenants of this Agreement. (f) For the purposes of any of the provisions of this Agreement, neither the Seller nor the Buyer, as the case may be, nor any successor in interest, shall be considered in breach of or default in its obligations with respect to the preparation of the Property for redevelopment, or the beginning and completion of construction of the Improvements, or progress with respect thereto, in the event of delay in the performance of such obligations due to unforeseeable causes beyond his control and without his fault or negligence, including, but not restricted to, acts of God or of the public enemy, acts of the Goverment, acts of the other party, fires floods, epedemics, quarantine restrictions, strikes, freight embargoes and unusually severe weather or delays of sub- contractors due to such causes; it being the purpose and intent of this provision, that in the event of the occurrence of any such delay, the time or times for performance of the obligations of the Seller with respect to the preparation of the Property for rede- velopment or of the Buyer with respect to construction of the Improvements, as the case may be, shall be extended for the period of the delay; Provided, that the party seeking the benefit of the Provisions of this section shall, within sixty (60) days after the beginning of any such delay have first notified the other party thereof in writing, and of the cause or causes thereof and re- quested an extension for the period of the delay. (g) Prior to the completion of the Improvements by the Buyer, neither the Buyer nor any successor in interest to the Property shall engage in any financing or any other transaction -8 - creating any mortgage or other encumbrance or lien upon the Property, whether by express agreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the Property, except, and only to the extent necessary, for the purpose of obtaining funds for making the Improvements. It is further agreed that the Buyer (or successor in interest) shall notify the Seller in advance of any mortgage financing he pro- poses to enter into with respect to the Property and in any event that he shall promptly notify the Seller of any encumbrance or lien that has been created to or attached to the Property, whether by voluntary act of the Buyer or otherwise. (h) Notwithstanding any of the provisions of this Agree- ment, including but not limited to those representing covenants running with the land, the holder of any obligation authorized by this Agreement (including any such holder who obtains title to the property as a result of foreclosure proceedings or action in lieu thereof, but not including (1) any other party who thereafter obtains title to the property from or through such holder or (2) any other purchaser at foreclosure sale other than the holder of the obligation itself) shall in no wise be obligated by the pro- visions of this Agreement to construct or complete the Improve- ments or to guarantee such construction or completion; nor shall any covenant or any other provision in the Deed be construed to so obligate such holder: Provided, that nothing in this section Or any other section or provision of this Agreement shall be deemed or construed to permit or authorize any such holder to de- vote the property or any part thereof to any uses, or to construct any improvements thereon, other than those uses or improvements provided or authorized in the Declaration of Restrictions, ordi- nances of the City of Bangor, and this Agreement. 4. No member, official or employee of the Seller shall have any personal interest direct or indirect, in this Agreement, nor shall any such member, official or employee participate in any decision relating to this Agreement which affects his personal interests or the interests of any corporation, partnership or association in which he is, directly or indirectly, interested. -9 - No member, official or employee of the Seller shall be personally liable to the Buyer or any successor in interest in the event Of any default or breach by the Seller or for any amount which may become due to the Buyer or successor or on any obligations under the terms of this Agreement. 5. Taxes and special assessments, if any, due on or be - fare the closing date shall be paid by the Seller. _ 6. Buyer herewith tenders Fifty-five and -------------- ---------- 00/100 Dollars ($ 55.00 ) which sum is at least five percent (5%) of the offered purchase price as earnest money to become a part of the payment of the purchase price of the land upon acceptance of this offer by the Seller. This sum shall be held by Seller and if this offer is not accepted, it shall be returned to the Buyer, without interest. It shall be retained by the Seller for reimbursement as liquidated damages to partially offset expenses incurred by the Seller for legal advertising, title search, internal Authority administrati... actions or otherwise if the Buyer fails to complete the purchase of said land within the time specified in Paragraph 2 herein. 7. This offer is binding on the Buyer if accepted by the Seller within sixty (60) days and cannot be withdrawn during this time. If not accepted by the Seller within sixty (60) days, it is automatically cancelled and expires, in which case the earnest money shall be promptly refunded to Buyer, without in- terest. B. Closing of purchase shall take place not more than one hundred twenty (120) days, or as otherwise specified in Para- graph 2 hereof, from date of acceptance of this offer by Seller; and notification to Buyer thereof by returning to Buyer one (1) accepted copy of this offer to the address indicated below. The land shall be conveyed to the Buyer by a warranty Deed on date of closing. 9, The Seller may or the Buyer shall promptly file the Deed for recordation in the Penobscot Registry of Deeds at Bangor, Maine. The Buyer shall pay all costs (including the coat of any real estate transfer tax on the Deed, for which stamps in -10 - the proper amount shall be affixed to the Deed by the Buyer) for so recording the Deed. 10. Promptly after completion of the Improvements in accordance with this Agreement, the seller will furnish the Buyer with an appropriate instrument so certifying. The certification by the Seller shall be (and it shall be so provided in the Deed and in the certification itself) a conclusive determination of satisfaction and termination of the covenants in the Agreement and the Deed with respect to the obligations of the Buyer and his heirs and assigns to construct the Improvements and the dates for the beginning and completion thereof. The certification shall be in such form as will enable it to be recorded. If the Seiler shall refuse or fail to provide the certification, the Seller shall, within thirty ( 30 ) days after written request by the Buyer, provide the Buyer with a written statement indicating in adequate detail how the Buyer has failed to complete the Im- provements in conformity with the Urban Renewal Plan or this Agreement, or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the Seller, for the Buyer to take or perform in order to obtain the certification. 11. The word "Buyer" in this agreement shall be construed to mean both the plural and singular number. in any gender, and to mean not only the party thereby designated, but also his, her or their respective heirs, assigns, executors, administrators, or see successors in interest, or, in the event that any Such party is a corporation, its or their successors or assigns. �/ witness uli ✓ u W mesa Bu r In City Council Address Telephone Council order No. A True Copy. Attest: -12- ACCEPTANCE: The above offer is accepted this _ day of 19_, and accordingly constitutes a binding contract for sale of land between Buyer and Seller. (SEAL) URBAN RENEWAL AUTHORITY OF THE CITY OF BANGOR By Witness Chairman Executive Director APPROVED AS TO LEGAL FORK AND ADEQUACY: