HomeMy WebLinkAbout1971-04-12 163-Y ORDER163-Y
Introduced by Councilor Minsky, April 12, 1971
CITY OF BANGOR
(TITLE.) OtbeTr-_.Approving Proposed ConTract for Sale of band in the Stillwater
Park Urban Renewal Project Parcel Nos, 7, 19, 20, 28 & 158
By his City Conseil of W CYty ofBanpar:
ORDERED,
THAT WHEREAS, the Urban Renewed Authority of the City of Bangor proposes
to enter Into a contract for the sale of parcel numbered 7, 19, 20, 28 & 158
in the Stillwater Park Urban Renewal Prvject with Westville Homes CoruoratiOn
and
WNBRRAS, the said Westville Hanes Corporation
has offered to pay the am of Four Thousand, Eight Hundred and 00/100
for said parcel , saidprice being the minimums approved price for said parcel
established by the Urban Renewal Authority and approved by the Department of
Housing and Urban Development; and
WHER&1S 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 elle of land within the project area is required; and
WHEREAS/ the Urban Renewal Authority has filed a copy of the
proposed contract wlthWestvill'e Homes Corp. in the office of the City Clack;
NOW, THEREFORE, 8E IT DRDERED:
THAT the proposed contract on Elle with the City Clerk be and
is hereby approved.
;�+=CEI V ED
In APA -B ",P 4:5
CITY CLERK'S oFEICE
,Ty g pHrynR. MAINE
April 12, 1971
PASSED
C C17
163-Y
OBOES
Sitje,
Sale of 1H`H in Stillwater Pk m Project
......................................
Parcel Nos. 7,19,20,28 6 158
.............................. ....
..ICAO ESEed Ey
IiO®LSi�n
STILLWATER PARR PROJECT
PRCJECT NO. M. R-4
PART I
of
CONTRACT FOR
SALE OF LAND MR PRIVATE REDEVELOPMENT
(OFFER AND ACCEPTANCE)
J
By and Between
Urban Renewal Authority of the City of Bangor
and
WESTVILLE BOXES CORPORATIM
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
J.
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 (Farm
H-62098, 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 29th day of March , 19 71, by
and between the Ihban RRenewal Patho[iY o£ the Cvto£ the Cvt of Bangor,
public body corporate which, together wit any a sor public
body or officer hereafter designated by or pursuant eto law, is
hereinafter called "Agency"), established pursuant to Chapter 168
of the Private and Special Laws of the State of Moine, 1957, a
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 Westville Homes -Corporation
a corporation organized and
existing under the laws of the State at Delaware
hereinafter called the "Redeveloper") and having an office for
the transaction of business at Box pl
n the City of Plaistow ,
County of Rockingham , and State of
w Rameshiee WITRESSETH:
WHEREAS, in furtherance of the objectives of the Urban
Renewal Act, the Agency has undertaken a program for the clearance
and reconstruction or rehabilit,tion of slum and blighted are a
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 area (here-
inafter called "Project Area") located in the City; anarea
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 inaccordance 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 beat interests of the
City and the health, safety, 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 and requirements under
which the Project has been undertaken end 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: 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 Two Thousand Eight Hundred and
00/100 Dollars ($2800,00 ),
hereinafter called Purchase Price", to be paid in 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 the Property by Warranty Deed (hereinafter called "Deed").
Such conveyance and title shall, inaddition to the condition
subsequent provided for in Section 704 hereof, ani to all other
conditions, covenants , and restrictions set forth or referred to
elsewhere in the Agreement, be subject to the terms, if any, set
forth on said Schedule A, attached hereto.
(b) Time and Place for Del ive[v of Deed. The Agency shall
peed
deliver the and possession of the Property to the Rede-
veloper on M 15, 19 71, or on such
earlier date as the parties hereto may mutually agree inwriting.
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) Apportionment of Current Taxes. The portion of the
current taxes, if any, on the Property which are a lien on the
data of delivery of the Deed to the Redeveloper allocable to
buildings and other improvements which have been demolished o
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
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 apportionment shall be subject to
final adjustment within thirty (30) days after thedate the actual
Pmountof sucb:current tc:ms is. ascertained.
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(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 costa (including
the coat Of the Federal documentary stomp 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) Further Obli ations of the A enc at the Radevelo r.
See Sc a ule A.
SEC. 3. GOOD FAITH DEPOSIT.
(a) Amount. The Redeveloper has, prior to or simultaneously
with the a ecution of the Agreement by the Agency, delivered to
the Agencyxa good faith deposit of cash or a certified check
satisfactory to the Agency in the amount Of Hundred
and ------ ------00/100 Dollars (5245.00
_,,and
called bepoait", as
security £or t e performance of the
obligations of the Redeveloper to be performed prior to the return
of the Deposit : 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, 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 Redeveioper, the amount of
the Deposit, made in cash or by
certified check, shall be .pplied on account of the Purchase
Price at the time payment of the purchase Price is made.
(d) Retention by Agency. Upon termination of the Agree-
ment as provides in section J03 hereof, the Deposit, if cash, o
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 s
provided in section 703 hereof.
(e) Return to Redeveloper. Upon termination of the Agreement
s 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 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 Sas 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 sun equal to not less
than ten percent (30%) of the contract price under said con-
struction contract, certified by the Redeveloper to be a true
and correct copy thereof.
SEC. 4. TIME FOR COMMENCEMENT AND CCMPLETION IMPROVEMENTS.
no 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 Dead date.
SEC. 5 TIME FOR CERTAIN OTHER ACTIONS.
(a) Time for Submission of Construction Plane. The time
within whicb the Redeveloper shell submit its "Construction
Plane" (as defined in Section 301 hereof) to the Agency in any
vent, 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 b£ corrected Construction Plans.
Ex Capt as provided m sera graph (c of this Section 5, the time
within which the Redeveloper shall submit any new or corrected
Construction Plana 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.
(e) Maximum Time for A roved Construction Plans. In any
event, the tine within which the Re eveloper 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 Aqencv Action on Change in Construction Plans.
The time within which the Agency may reject any change in the
Construction Plana, 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.
SC
(e) Time for Submission of Evidence of Eouity Capital and
Mortgage Financing. The time within which the Redeveloper shall
submit to the Agency, in any event, evidence as to acuity capital
and any commitment necessary for mortgage financing, as provided
in Section 303 hereof, shall be not later than Fifteen ( 15 )
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 deemed to'have been approved as provided in Section
301 hereof, after the expiration of thirty 130) days following the
date of receipt by the Agency of the Conetrcction Plans as deemed
approved.
SEC. 6 PERIOD OF DURATION OF COVENANT ON USE.
The covenant pertaining to the uses
of the Property, set forth
n Section 401 hereof, shall remain i 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-
age prepaid, return receipt requested, or delivered personally, and
(1) in the case of the Redeveloper, is addressed to or
delivered personally to the Redeveloper at Sox 1
Plaistow New Hampshire I 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.. to in writing and forward to the other as
provided in this Section.
SEC. R SPECIAL PROVISIONS
SEC. 9 MODIFICATION OF PART II.
The following amendments and modifications are hereby made in
the terms, covenants and conditions forming Part IP hereof
SEC. 10. COUNTERPARTS.
The Agreement is
ecuted in three (3) counterparts, each of
which shall constitute one and the some instrument.
IN WITNESS WHEREOF, the Agency has caused the Agreement to be
duly executed in its name and behalf by its Executive Director
and its seal to be hereunto duly affixed and attested by its
_ , and the
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Redeveloper has caused the Agreement to be duly executed in its nam and behalf
by its President and its corporate seal to be hereunto duly affixed and
attested by its Secretary, on or as of thee day first above written.
Gr'Cl/ i�/ / / As' fJ Ok'/p iacTyry
RY ( i! q� /'—' /AYJD
(Pi -Iden[) S^�
Attest:
In City council council Order no._
fate
Attest:
Attee L•
(Secretary)
A True Copy, Attest:
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(Agency)
SCHEDULE A
Description Of Property
All that certain parcel or parcels of land located in the city
Of Bangor, County of Penobscot, State of N.aine, more particularly
described as follows:
Stillwater Park Project, Me. R-4
Parcel Nos. 7, 19, 20, 28 & 158
Subject to the following covenants, restrcetions and
easements: i_if none, so state)
Subject to telephone easements at rear of property.
further obligations of the Agency and the Redeveloper
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