HomeMy WebLinkAbout1971-06-28 231-Y ORDERs 231-Y
Introduced by Councilor Higney, dune 26, 1971
CITY OF BANGOR
(TITLE.) (Dater, Approving Proposed contract_ for.. sate of Land. in the Stillwater
Perk Urban Renewal Project Parcel ERs. 68-69-70-71-72-73_74_83-84-
_..... __. ....... 119 6 120. .....
By the City Counsel of the City WBanpor.
ORDERED,
THAT WHIREAS, the Urban Renewal Authority of the City of Bangor proposes
to enter into a contract for the sale of parcels n sbered 68q-66�911]qq0-7111-o7o2-73-74-83
In the Stillwater Park Urban Renewal Project vlthRoss R. 93WtbI�d bL Bmpan I -21c.
and
WNEREAS, the said Ross B. Hammond Company. Inc.
has offered to pay the uum of Twelve Thousand, Five Hundred and 00/100 Dollars
for said parcel said price being the minimm approved price for maid parcel
as established by the Urban Renewal Authority and approved by the Department of
Housing and Urban Pevelopaent; and
WHEREAS under the provisions of Chapter 168 of the Private and
Special Laws of Maine, 1957, as awarded, 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 Ross H. Hammond Co. InA, the office of the City Clerk;
NOW, THEREFORE, 8E IT ORDERED;
ME the proposed contract on file with the City Clerk be add
is hereby approved.
qq 231-Y
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CIT
ORDER
elf's@��
,!7y!7y IiY prL FA 493R. N6 ' -0'E Side,
IN CITY COUNCIL
June 28, 1971
PASSED
Sale of Sand in Stillwater Park UR
......................................
Project - Pazael 68,69,]0,]1,]2,]3,
..............
04, 83, �, 119,120. _
j,q,trodueed mad filed by
STILLWATER PARE PROSECT
PROJECT NO. ME. R-4
_
PART I
of
CONTRACT FOR
SALE OF LAND FOR PRIVATE REDEVELOPMENT
(OFFER AND ACCEPTANCE)
By and Between
Drban Renewal Authority of the Citv of Banaox
and
ROSS B. HAMOND CO., INC.
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
S. Time for Certain Other Actions 4
6. Period of Duration of Covenant on Use 4
7. Notices and Demands 5
8. Special Provisions 5
9. Modifications of Part II 5
SG. Counterparts 5
CONTRACT FOR
SALE OF LAND FOR PRIVATE REDEVELOPMENT
AGREEMENT, consisting of this Part I and Part II (Form
H-62098, 1-64) annexed hereto and made a part hereof (which Pert I
and Part II are together hereinafter called "Agreement"), made
on or as of the 21st day of June 19 71, by
and between thea
public
Renewal Authoritof t o£ Han r, a
public body corps
to w ich, 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 Maine, 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 ROSS B. Hammond Co., Inc.
'a corporation organized and
existing under the laws of the State or Oregon
hereinafter called the "Redeveloper") and havinan office for
the transaction of business at 62] S.E. DivisionPlace
in the `City Portland
County of Multnomah and State of
Oregon WITNESSETH:
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 ere -s
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 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, Hook 2113,
Page 635 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 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 end requirements under
which the Project has been undertaken and 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, thea amount Of Two ve Thousand Five pranced
Fifty and no/100 -------- Dollars $ 12, 55D.00 ),
herelnafte[ called "Purchase Price", [o be pard 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, add to all other
conditions, covenants , and restrictions set forth or referred to
elsewhere in the Agreement, be subject m 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 October 31. 19 or on such
earlier date as the parties hereto 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) Apportionment of Current Taxes. The portion of the
went taxes, r£ zny, on the 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 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
rmount, ofsuah,curzentt:ces 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 coats (including
the coat 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) Fu th O31 ti f theA ed 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 Six Hundred Twenty-
ivht and no/100-----------Dolls Is here-
inafter called "Deposit", as security fox a 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 My be.
in accordance with
hsthe be
Agreement. The Deposit, if cash
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 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 as
provided in Section 703 hereof.
(e) Return to Redeveloper. Upon termination of the Agreement
as provided in Section 702 hereof, the Deposit shall be returnet
W the Redeveloper by the Agency as provided in section 702 hereof.
If the Agreement shall not have been terminated as1n Section 702
or 703 hereof provided, the Agency shall return the Deposit to the
Redeveloper upon receipt by the Agency of the fallowing:
(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. TIM FOR CCNNENCRNENT 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 need date.
SEC. 5 TIME FOR CERTAIN OTHER ACTIONS.
(a) Time for Submission of Construction Plans. Me time
within which the Redeveloper shall submit its "Construction
Plana" (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 Plans.
Ex cept as provided in Paragraph of this Section 5, the time
within which the Redeveloper shallsubmitany 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 for A rOVed Construction Plans. In any
event, the time within whit the 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 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 Change 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.
-4-
(e) Time for Submission of Evidence of Euuity Capital ane
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 financing, as provided
in Section 303 hereof• shall be not later than thirty ( 30 )
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-.deameal to'have been approved as provided in Section
301 hereof, after the expirstion 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 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 dote, as the case may be, such covenant
shall terminate.
SEC. 7. NOTICES AND DEMANDS.
A =tics, 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 reouested. or delivered personally, and
(1) in the case of the Redeveloper, is addressed to or
delivered personally to the Redeveloper at 627 S. E. Division
Place, Portland, Oregon 97219 and
(11) in the omen 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 as
provided in this Section.
SEC. B SPECIAL PROVISIONS
SEC. 9 MODIFICATION OF PART 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 in its n end behalf by its Executive Director
and its seal to be hereunto duly affixed and attested by its
Secretary I and the
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Redeveloper has caused the Agreement to be duly executed i 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;
ROSS B. NAMMONO CO., INC.
(Redeveloper)
resi e t ,l, M. Mi lei
Attes�t:� / �/
4.z Ff�
Secxetaxy)Ardis Whittaker
In City Council Council Order No._
Attest:
Attest:
(Secretary)
A True Copy, Attest:
-6-
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:
Lots numbered 68, 69, 70, 71, 72, 73, 74, 83, 84, 119 and 120
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
Amendments to Part i and 2 0£
Contract For Sale of Land For private Redevelopment
WHEREAS, the Urban Renewal Authority of the City of Bangor
and Ross B. Hammond Co., Inc., entered into a contract dated
June 21 1971;
WHEREAS, the parties are desirous of amending said contract
without the necessity of preparing new sets of forma;
THEREFORE, in consideration of One Dollar ($1.00) and other
valuable considerations and the exchange of mutual promises, the
parties hereto amend the contract dated June 21
1971, as follows:
(1) Section a of Part 1 is amended by adding the following
language:
"Provided, That if a mortgage securing money loaned to
finance the Improvements, or any part thereof, is in-
sured by the Federal Housing Administration, then the
aforesaid completion time shall not apply, but instead
the construction of such Improvements or part thereof
shall be completed within the time specified in the
applicable Building Loan Agreement approved by the
Federal Housing Administration."
(2) Section 8 of Part 1 is amended by adding the word
none".
IN WITNESS WHEREOF, the Urban Renewal Authority of the
City of Bangor has caused the Amendments to be duly executed
an its name and behalf by its Executive Director and its seal
to be hereunto duly affixed and attested by its Secretary, and
the Redeveloper has caused the Amendments to be duly executed