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HomeMy WebLinkAbout1971-04-12 164-Y ORDERl6a-y Introduced by Councibe Minsky, April 12, 1911 /p CITY OF BANGOR QITLE) Mrberr--Approving Proposed Contract for. sale of Land in. the Stillwater Park Urban Renewal Project - Parcel Nos. 124, 134, 135, 139 6 179 By the City Coward of W City ofMrsrr: ORDERED, TEAT WHEREAS, the Urban Renewed. Authority of the City of Banat proposes to enter into a contract for the sale of parcel mmbered 124, 134, 135, 139 & 179 in the Stillwater Park Urban Renewal Project with James Jacobs d/b/a LOnWieW Lumber Company ; and WHEREAS, the saidJames Jacobs d/b/a Longview Lumber Company has offered to pay the am of Seven Thousand, Eight Hundred and 00/100 Dollars for said parcel said price being the minimum approved price for said parcel as established by the Urban Renewal Authority and approved by the Department of Hearing and Urban Development; and wUfgEAS under the provisions of Chapter 168 of the Private awl Special Leve of Mine, 1957, as amended, City Council approval of all contracts for the sale of land within the project area is required: and WFEHE4HJefii�� Uf$Mh�ptql�*/,+atbority has filed a copy of the proposed contract with Longview Lumber Company the office of the City Clark: NOW, THEREFORE, B8 IT DRDEBED: THAT the proposed contract on Elle with the City Clerk be aM is hereby approved. 164-Y RE` C< FEIVFP 1971 AIA -8 "M H: RO ORDER CITY CLERK'S OFFICE CITY nF AANGON. MAINE Sale of land in Stillwater Park VR ...................................... IN CITY 1971COUIL PASSE12. 19'!1 pro ect Paz el Nae. 124,134,135,139 & 179 PASS® ... �.... ....:........................ C I'M EIllL IYt[OIIICBL and Eat by . STILLWATER PARK PROJECT PROJECT 90. ME. R-4 f PART I of CONTRACT FOR SALE OF LAND POR PRIVATE REDEVELOPMENT (OFFER AND ACCEPTANCE) By and Between Urban Renewal Authoritv of the City of Bangor and James Jacobs d/b/a Longview Lumber PART I CONTENTS Section Page 1. Sale: Purchase Price 2 2. Conveyance of PLonerty 2 3. Good Fsith Deposit 3 4. Time for Commencement and 4 Completion of Improvements 5. Time for Certain Other Actions 4 6. Period of Duration of Covenant an Use 4 7. Notices and Demands 5 B. Special Provisions 5 9. Modifications Of Part II 5 10. Counterparts 5 CONTRACT FOR AGREEMENT, consisting Of this Part I and Pert II (Form H -6209B, 1-64) annexed hereto and made a part hereof (which Part I end Part II are together hereinafter called "Agreement"), made n or as of the 1st day of A rail �, 19 71, by and between the Urban Renewal Authorrt' of the Cit of Bangor, public body corporate whit , together with any successor public body or officer hereafter designated by or pursuant to law, i5 hereinafter called "Agency"), established pursuant to Chapter 168 of the Private and Special Laws of the State of Mine, 1957, a ended (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 James Jacobs d/b/a Lonigvdiew Lumber Company corporation organzeand existing under the laws of the State of Maine hereinafter called the "Redeveloper") and having an office for the transaction of business at R. F. D. p2 , in the City of Orrington , County of Penn scot and State Of Maine WITNESSETH: 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 slum and blighted ire s n the City, and in this connection is engaged in carrying out an urban renewal project known as the "5tillwater Park Urban Renewal Project' (hereinafter called "Project") in an area (here- inafter called "Project Area") located in the City; and WHEREAS, the Agency has offered to sell end 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, and the fulfillment generally of the Agreement, are in the vital and best interests of the City and the health, safety, morals, and welfare of its residents, -1- and in accord with the public purposes and provisions of the applicable Federal, State, and local laws end 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: 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 Seven Thousand, Eight Hundred and — -00/100 Dollar9 ($ "1,800.00 ), 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, 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, be subject to the terms, if any, set forth on said Schedule A. attached hereto. (b) Time and Place for Delivery of Deed. The Agency shall deliver the Deed and possession of the Property to the Rede- veloper on 19 , or on such earlier date as the patties 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 date of delivery of the Deed to the RedeveDper 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 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 a certeinable 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 tbedete the actual .mount Of..supir current t::es is ascertained. -2- (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 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) for so recording the Deed. (e) NA Obl' f theAvene and the Redeveloper. See Schedule A. SEC. 3. GOOD FAITH DEPOSIT. (a) Amount. The Redeveloper has, prior to or simultaneously with the execution of the Agreement by the Agency, delivered to the Agency a good faith deposit of cash or a certified check. satisfactory to the Agency in the amount of 'Three Hundred Ninety and -- ----- _,Z ../100 Oo11a [s 1$390.00; here - natter called "Depoe t", as security for the performance 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 n�toreat 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 mode. (d) Retention Dv Agancy. 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 as provided in Section 703 hereof. (e) Return to Redevelo er Upon termination of the Agreement s Orovidedin Sectron J0P 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 £Ua Redeveloper upon receipt by the Agency of the follow1n9: (1) A COW 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 one 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 cope+ of the contract bond provided by the general contractor in concect:on with the aforesa'd construction contract which bond shall be in a penal a= 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. TIME FOR COMMENCEMENT AND COMPLETION IMPROVEMENTS. The construction of the Improvements referred to in Section 301 shall be commenced in any event within s (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 TIME FOR CERTAIN OTHER ACTIONS. (a) Time for Submission of Construction Plane. The time within which the Redeveloper shall submit its "Construction Plans" las 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 dote of this Agreement. (b) Time for Submission of Corrected Construction Plans. Ex rept 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 then sixty (60) days after the date the Redeveloper receives written notice from the Agency of the Agency's re- jection of the Construction Plans referrer to in the latest such notice. (C) Maximum Time for ApprOVed Cons truCtion Plans. In any event, the time wA i wbiF the Redeveloper shall submit Construction Plaits 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 received 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 Chanqe in Construction Plans. 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. S! (e) Time for Submission of Evidence of Ecuity capital and Mortgage Financing. The time within which =he Redeveloper shall submit to the Agency, in any event, evidence as to equity capital and any commitment necessary for mortgage financing, as provided n 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 .deemedto have 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 Plans as deemed approved. SEC. 6 PERIOD OF DURATION OF COVENANT ON USE. The covenant pertaining to the uses of the Property, set forth in Section 401 hereof, shall remain i effect from the date of the Deed until January 22, 2022, the period specified or referred to in th=_ 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 AM 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 R. E. D. #2 Orrington. Maine 04474 and (11) in the read of the Agency, is addressed to or delivered personally to the Agency at City Hall, Danger, 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 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 evecuted in three (3) counterparts, each of which shall constitute one and the same instrument. IN WITNESS WHEREOF, the Agency has caused the Agreement to be duly executed inits name and behalf by its Executive Director and its seal to be hereunto duly affixed and attested by its , and the -5- Redeveloper has caused the Agreement to he 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: Atte9t: (Secretary) In City council Council Order No. Attest: Attest: Secretary A True Copy, Attest: -6- (City Clerk. 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: Stillwater Park Project, Me. R-4 Lot Nos. 124, 134, 135, 139 6 179 Subject to the following covenants, restrictions and easements: (if none, so state) Subject to telephone easements at rear of property. further obligations of the Agency and the Redeveloper -7-