HomeMy WebLinkAbout1971-05-24 200-Y ORDERIntroduced b councilor Di 200-Y
Y gney, May 24( 1971
p CITY OF BANGOR
(TITLE,) (Drbera_.. Approving Proposed conFrect for Sale of Land. in. the Stillwater
Park Urban Renewal Proiect - Parcel No .
By the (Sit Caunsil of the City of Beason
ORDERED,
THAT WNERPAS, the Urban Renewal Authority of the City of Bangor propoees
to enter into a contract for the sale of parcel numbered 110
in the Stillwater Perk Urban Renewal Project with Sockbeson Brothers
Incorporated and
WHEREAS, the said Sockbeson Brothers Incorporated
hes offered to pay the am of Twelve Hundred and 00/100 Dollars ($1,200.00)
for said parcel , said price being the minister approved price for maid 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 168 of the Private and
Special Laws of Maine, 1957, as amendeq, City Council approval of all contracts
for the sale of land within the project area is required; and
NESSUS, the Urban Renewal Authority hes filed a copy of the
proposed contract with Sockbeson Bros., Inc. in the office of the City Clark;
NW, THEREFCRUU: BE IT o806RE0:
THAT the proposed contract on file with the City Clerk be sed
is hereby approved,
REGEf V ED
1371 NAi 21 AM 7.14
CITY CLEWS OFFICE p1tle
CITY OF 98N6OA. MAINE
N CITY COUNCIL
May 24, 1971
PASSED
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LO
2Do-Y
ORDER
Sale Of Lend in Stillvatei Park P.R.
......................................
Pa[Oel NO. 110
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fiodua0. end rued by
STILLWATER PARK PROJECT
PROJECT NO. NE. R"
PART I
of
CONTRACT FOR
SALE OF LAND FOR PRIVATE REDEITELORKENT
(OFFER AND ACCEPTANCE)
By and Between
Urban Renewal Authority of the City of Bangor
and
Sockbeson Brothers Incorporated
PART I
CONTRNTS
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
].
Notices and Demands
5
8.
Special Provisions
5
9.
Modifications of Part II
5
10.
Counterparts
5
14•P.Fs�da idA
SALE OF LAND FOR PRIVATE REDEVELOPMENT
AGREEMENT, consisting of this Part I and Part II (Form
H-62098, 1-66) annexed hereto and made a part hereof (which Part I
and Part II are together hereinafter called "Agreement"), made
on or as of the 16th day o£ Novembe 19 70, by
and between the Ur awn Ral enewAuthorii of Fe Cit of Ban or, a
Public body corporate which, together with any s eaeox public
body or officer hereafter designated by or PursuanttoLaw, is
hereinafter called "Agency"), established pursuant to Chapter 168
of the Private and Special Laws of the State of Maine, 1957, as
ended (hereinafter called "Urban Renewal Acta and having its
office at City Hall in the City of Bangor (hereinafter called
"City"), State of Maine, and the Sockbeson Brothers
IncoiRorated a corporat on organized and
existing under the laws of the State of Maine
hereinafter called the 'Redeveloper") and having an office for
the transaction of business at 502 Stillwater Avenue
in t e City of Old Town ,
Ccunty of , and state —
WHEREAS, in furtherance of the objectives of the urban
Renewal Act, the Agency has undertaken a program for the clearance
and reconstruction or rehebilit,tion of slum and blighted _rens
n 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 an area (here-
inafter called 'Project Area") located in the City; and
WHEREAS, the Agency has offered to se -1 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, 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,
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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: PURCEASE 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 One Thousand Two Hundred and -
00/100 Dollars ($ ,200.00 ),
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 plate for Delivexv o£ Deed. The Agency shall
deliver the Deed and poasessa0n o£ the Property to the Rede-
veloper on June 1 1971, or o such
earlier date as the parties hereto may mutually .gree 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) 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 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
trent 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
.mount of. 6uvh;currenttFl;es 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, Veins. The Redeveloper shall pay ell 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) Further Obligations of the Agency and the Redeveloper.
see Sche ule 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 s certified check
satisfactory to the Agency in the amount of Sixty and ------
00/100 Dollars ($60.00) here-
nafter called 'Deposrt", s 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, _f cash or certified check, shall be
deposited inaccount of the Agency in a back or trust company
selected byitn
(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
entified check, shall be applied o account of the Purchase
Price at the time payment of the Purchse Price is made.
(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 os
provided in Section 703 hereof.
(e) Return to Redeveloper. Upon termination of the Agreement
s provided in Section OF cof, the Deposit ehnli 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 i
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 sun equal to not less
than Can 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 IMPRGVEMERTS.
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 TIME FOR CERTAIN OTHER ACTIONS.
(a) Time for Submission of Construction Plans. The time
within whic the Redeveloper shall submit its •Construction
Plana" (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 of Corrected Construction Plans.
Ex Cept as provided in Paragraph T 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 o= the Agency's re-
jection of the Construction Plane referred to in the latest
such notice.
(c) Maximum Time for A send Construction Plane. In any
ant, the time within whic the Redeye oper 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 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 Chance in Construction Plane.
The time within W ith the Agency may reject any change in the
Construction Plana, as provided in Section 3G2 hereof, shall be
forty-five (45) days after the date of the Agency's receipt of
notice of such change.
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(e) Time for Submission of Evidence of Ecvity capital and
Mort a Financing. The time within which the Redeveloper sha11
su mit to
o the Agency, in any event, evidence as to enuity capital
and any commitment necessary for mortgage financing, as provided
in Section 303 hereof, shall be not later than thirty _ (a-)
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 (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.
The covenant pertaining to the us of the Property, set forth
n Section 401 hereof, shall remain in effect from the date of the
Deed until Sanuary 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. ]. 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 reaiested, or delivered personally, an,,
(1) in the case of the Redeveloper, is addressed to or
delivered personally to the Redeveloper at 302 Stillwater _
Avenue, Old Town, Maine , don
(11) in the area 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, designate in writing and forward to the other a_
provided in this Section.
SEC. 8 SPECIAL PROVISIONS
SEC. 9 MODIFICATION OF RART II.
The following amendments and modifications are hereby made i:.
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 WITNESS WHEREOF, the Agency has caused the Agreement to be
duly executed in its n and behalf by its executive Director _
.md s seal t0 be hereunto duly affixed and attested by r[s
Executive Director I and tiie
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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:
'� i ocL'/is Sir ✓�// S /.fid,
Ae eve open
l -
Yr e1 ertt
Attest:
Secretary
In City council Council order No.—
Attest:
Attest:
Secretary
A True Copy, Attest:
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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:
Lot 4110 as shown on Plan of Land entitled "Stillwater Park
Project, Bangor, County of Penobscot, 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 1-9 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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