HomeMy WebLinkAbout1971-07-26 250-Y ORDER0-Y
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Introduced by Councilor ;counted, July 26, 1971
CITY OF BANGOR
(TITIL) Orberp--Approving Proposed Contract for. sale of Land in the Stillwater
Park Urban Renewal Project Parcel are. 65-113-114-115-116 & 117
BY the City Caune4 Of its LYty ofj wepm:
ORDERED,
THAT WHEREAS, the Urban Renewal Authority of the City of Bangor proposes
to enter into a contract for the sale of parcel numbered65-113-114-115-116 x 117
in the Stillvater Park Urban Renewal Project with Eremita A, Valley. Inc.
; and
WHEREAS, the said Eremite 6 Valley. Inc.
has offered to pay the a= of Seven Thousand, Nine Hundred and On h nn nollars
for said parcel said price being the minim.® approved price for said parcel
asestablished 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 smelled, City Council approval of all contracts
for the sale of land within the project area is required; and
VEESSAS, the Urban Renewal Authority has filed a copy of the
proposed contract wltlEremita A Val 1 Av Inc in the office of the City Clark;
NOW, THEREFORE, RE IT ORDERED:
THAT the proposed contrset on file with the City Clerk be and
is hereby approved.
250-Y
RECEIVED
1971 JUL 22 PM 2: 34
O RDRR
CITY CLERK'S OFFICE lige,
CITY OF RANCOR. MAINE
Sale of L d in StillNate Park V
IN CITY CCOK'IL......................................
duly 26, 1971
PASS® P[?jeot - Ps Cel Nos. 65,113,114,115,
116, 11]
...0456 ......................
�
CITY CLEPI(
Intmduc f540 by
Cowcilmen
STILLWATER PARI( PROJECT
PROJECT NO. M. R-4
PART I
of
CONTRACT POR
SALE OF LAND FOR PRIVATE REDEVELOPMENT
(OFFER AND ACCEPTANCE)
By and Between
Urban Renewal Authority of the City of Bangor
and
EHEWTA & VALLEY, 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
5.
Time for Certain Other Actions
4
6.
Period of Duration Of Covenant on Use
4
].
Notices and Demands
5
S.
Special Provisions
5
9.
Modifications of Part II
5
10.
Counterparts
5
CONTRACT FOR
SALE OF LAND FOR PRNATE REDEVELOPMENT
AGREEMENT, consisting of this Part I and Part II (Farm
H-62093, 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 let day of July 19 71, by
and between the Urban Renewal Autbor ti V of the y of Bangor, a
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, as
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 Eremita 8 Valley
corporation organised and
isting under the laws of the State of Maine
hereinafter called the "Redeveloper") and having a office for
@¢ transaction of business at 39-43 Broatllawn Driven
n the City of Brewer ,
County of Penobscot 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 rehebilitition of slum and blighted are
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 aarea (here-
inafter Coiled "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, 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 healthsafety, morals, and welfare of its residents,
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A
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 cnd 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 Nine Hundred
Dollars ($ p.900.OQ'
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 t ee Pr�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 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 August 16 19 71, 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, If any, 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 o
removed from the Property by the Agency shall be borne by the
Agency, and the portion of such current tales 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
amount ot.souttcurrent tr<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, mine. The Redeveloper shall pay all costa (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) F th M
see Schedle ig ti f theA Y and the Redeveloper.
uA.
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 Hundr Thirty-Five
Dollars8335.00 here-
inafter calla Deposit", as security £or tie performance of the
obligations of the Redeveloper to be performed prior to the turner.
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 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 A�ency� Upon termination of the Agree-
ment as provided in SectKa 903 Mo.., 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 ds
provided in Section 903 hereof.
(a) Return to Redeveloper. Upon termination of the Agreement
s provided inSect on 70 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 asrn Section 902
or 903 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 d true an_
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. TIME FOR COMMENCEMENT 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 (16) months
after such Deed date.
SEC. 5 TIME FOR CERTAIN OTHER ACTIONS.
(a) Time for Submission of Construction Plans. The time
within which the Redeveloper shall submit its "Construction
Plans" (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 dote of this Agreement.
(b) Time for Submission of Corrected Construction Plane.
Ex cept as provided in Paragraph (c) of this Section 5, the time
within which the Redeveloper shall submit any new or corrected
Construction Plane 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) Max um Time for ApprOVed Construction Plans. In any
event, the time wvthvn which 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 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 Agency Action on Chan
qe in Construction Plans_.
The time wvthvn 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.
Cfl
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,
�v.
(Swoovelope
l
tem
1ni
Attest: TRS"
(Secretary)
In City Council Council Order No._
Attest:
Attest:
(Secretary)
A True COW, Attest:
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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 65, 113, 114, 115, 116 a 117 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
1-9inclusive.
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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