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HomeMy WebLinkAbout1970-12-14 43-Y ORDER43-T Introduced by Councilor signey, Oar. 14, 1970 /p CITY OF BANGOR (TITLE) Mrber,._. Approving Proposed ConTract for. Sale of Lead in the Stillwater Park Urban Renewal project Parcel No . 6, 137, 138 & 159 BY the City Coastal! Of City OfBaspor. D6DEPM, THAT WHEREAS, the Urban Renewal Authority of the City of Bangor proposes to enter into a contract for the sale of parcel numbered 6, 137 138 & 159 in the Stillwater Park Urban Renewal Project with Westville Homes Corporation :and WHEREAS, the said Westville Homes Corporation has offered to pay the am of Fifty-four Hundred and -----00/100 Dollars for said parcel , said price being the minima approved price for said parcel as established by the Urban Renewal Authority and approved by the Department of Rousing and Urban Development' and WRISMS under the provisions of Chapter 168 of the Privets and Special Laws of Hales, 1957, as amended, City Council approval of all contracts for the sale of land within the project area is required; and BRERBAN, the Urban Manual Authority has filed a copy of the proposed contract wlthWestville Homes Corp. in the office of the City Clerk: Now, THEREFORE, BE IT ORDERED: THAT the proposed contract on Elle with the City Clerk be and is hereby approved. IN CITY C KYWIL Dec. 14, 1970 PASS® 43-T ORDER Ville, Sale of tend in Stillwater Park U.R. ...................................... ..Pioject,Pazn¢1 NAa. 6j 13138 6 159 Lrtrodacend end flied by RTILLUATBR PARR PRC)BCF PROJECT NO. ME. R -L PART I of CONTRACT FOR SALE OF LAND FOR PRIVATE "DEVELOPMENT (OFFER AM ACCEPTANCE) BY and Between Urban Renewal Authority of the Cityof Bangor am Westville Homes Cor oration PART I CONTINLS Section Page 1. Sale: Purchase Price Z 4. Conveyance of Property 2 S. Good Faith Deposit 5 4. Time for Covaancement and Completion of Improvements 4 5. Tine for Certain Other Anions 4 6.- Period of Duration of Covenent on Use 4 ). Notices and Demmnds 5 B. Special Provisions 5 9. Modifications of Part II 5 10. Counterparts 5 CONTRACT FOR SALB OF LVID FOR PRIVATE REOEVELCHTENT AGREEMENT, consisting of this Par[ I And Par[ 11 (FOM H-61090, 1-64) annexed hereto and made a part hereof (which Part I and Part I1 ere together hereinafter called "Agreement"), made on or as of the is _Deaemb day of 19]0, by and between the Urban Renewal Authority f the City ofBanSor, a Public body corporate (which, together with suc- cessor public body or officer hereafter designated by or pany w. to hereinafter called "Agency"), Bendy"), established pursuant to Chaptterer 1 16868 to Law, of the Private and Special Laws of the State of Mine, 1957, as amended (hereinafter called "Urban Renewal Act") and laving its office at City Hall in the City of Bangor (berm nafter called 'City")' State Of Hain°, and the Westville Homes Corporation 'a corporation organized and existing under the leve Of the State of Delaware hereLwfcer called "Redeveloper") and having an office for the transaction of business at Box &1 in the City of Plaistow and State of New Hamoe County of -- -�_. WITNESSETH: WHEREAS, In furtherance of theObjectives Agency has undertaken a program for thelearance code Urban Rmewl pct, the habilitation of alum and blighted areas to the Citand a one thus cion o re- habilitation r°° y, andtin this connection Park Vrban Renewal yProject' (hereinafteOut an urban rcalledal l eProkeown rte the "Stillwater inafter called "Project Area") located In the City; ands) in an area (here- to WNRRFAS. the Agency hag Offered to Bell and the Redeveloper is willing ty Marty described in ReM1edulappraMe Andheretoet tan Project Area and more which - property as o desczlbetl 1s hArai tercalled "Property")de a pend hereof (bleb the Property for and Iv accordance with the a and to edevelop of Restrictions roxtled In Penobscot Reglatryeofs0eetls,ed in Book lM 3Declaration aM In accordanceewith [he agreement' and Page 835 WHEREAS, the Agency bell eves that the redevelopment of the Or try pur- suant to the Agreement, and the the vital and fulfillment generally of the Agreementbeat Interests of the City And the health, are in safety, morals, , and -1- welfare of its residents, And in Accord with the public purposes and provisions of the applicable Federal, State, and local laws and requirement. under which the Project has been undertaken and is being Assisted: NOW, THEREFORE, In consideration of the promises and the mutual oblige - clone 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, covenant, and Conditions of the Agreement, the Agency will sell the Property to the And for, and the Redeveloper will Purchase the Property from the AAency and pay therefor, the Amount of Fifty-four Hundred and 00/1000 Dollars ($5 400.00 ) hereinafter called 'Purchase Price", to be Paid in cash or by certified check a imultnecusly with the delivery of the deed comveyin the Property to the Redeveloper. SEC. 2. CMEPAECH OF pROMRTY. (a) yotm of peed. The Agency shall convey to the Redeveloper title to the Property by Warranty Ned (hereinafter called "Wed"). Such conveyance and title shall, In addition to the condition subsequent provided for in Section 204 hereof, and to all other conditions, covenants, and restrictions r set forth o referred to elsewhere 1n the Agreem¢nt,be subject to the terms, If Any, set forth on said Schedule A, attached hereto. (b) Tim _and Place for Deliver f Deed. The Agency shall deliver the Wed and poaseaslun of the Property to the Redeveloper on December 15 1910, of on each earlier date an the parties hereto may mutually agree in writing. Conveyance shall be made at the principal office of the Agency And the Redeveloper shall accept Duch conveyance aha pay to the Agency At such time and place the Purchase Price. (c) AppoRionswent of Current Taxes. The portion of the current texas, rn if any, on the Property which a • A lien n the data of delivery of the peed to the Redeveloper al Locable to buildings and other improvement, which have been demollaand Dr removed Eton the Property by the Agency shall be borne by the Agency, d the portion of such current taxes allocable to the land shalt be apportioned between the Agency and the Redeveloper as of the data of the delivery of the Deed. If the amount of the current taxes on the Property to not ascertainable on such date, the apportionment between the Agency and the Redeveloper shalt be on the basis of the amount of the moat recently ascer- tainable taxes on the Property, but such apportioumsnt shall be subject to final adjustment within thirty (30) days after the date the actual amount of such current [axes is ascertained. (d) Recordation of peed. The Redeveloper shall promptly file the peed for recordation in the Penobscot Registry of Weds at BaORar, Heine. The Redeveloper shall pay all costa (including the cost N the Federal documentary staff tax on the Deed, for which scarps in the proper amount shall be affixed to the Wed by the Redeveloper) for so recording the peed. -2- (a) Further Obligations of the Agency and the gedevelopar. See Schedule A. SEC. 3. &000 FAITH DEPOSIT. (a) Am_unt. The Redeveloper has, prior to or simultaneously with the execull on of the Agreement by the Agency, delivered to the Agency a good faith deposit of cash ora certified check satisfactory to the Agency in the amount Of Two Hundred Seventy d 00/100 Dollars 0 200.00 ), hereinafter called 'Deposit", as security for [he Performa Ofof 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 onaccount o4 the Purchase Price, as the case may be, in accordance with theAgreement. 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 obllSation to pay o interest a the0 posit, but If interest is payable thereon such Interest rn when received by the Agency shall be promptly paid to the Redeverloper. (c) Apo l lest ion to Pu h 1 Upon written request of the Redeveloper, she a unt of the Oepoeiq made in cash or by certified check, shall be app l led o punt o4 the purchsee Price at the time payment of the Purchase Price is made. (d) Retention by Agency. Upon termination of the Agreement as provided in Section 703 hereof, the )epoeit, 1f cash ' sh, or bonds or a lmLlar obligations of the United States, including all interest payable thereon after such rmftutLon, Or, If a surety baud, the proceeds thereof, shall be retained by the Agency as provided in Section 703 hereof. (e) Return to gedevelopgr. Upon termination of the Agreement a provided In Section 702 hereof, the Deposit shall be returned to the Redevetoper by the Agency as provided In Section 702 hereof. if the Agreement shall not have been terminated as in Section )V2 or 703 hereof provided the ency shall return the Deposit to the Redeveloper upon receipt by the Agency of owing: (t) 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 (ae defined in Section 301 hereof), certified by the Redeveloper to be A true and correct copy or copies thereof; (11) Evidence satisfactory to the Agency that the interim mortgage loan to assist in financing the construction of the Improvements has been initially closed; (iiL) A copy of the connect 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 (tv) A copy M Of the contract band provided by the general contractor In Connection with e aforesaid construction act which -3- bond shall be in a penal sum equal to not less than ten percent (10x) of the contract price abler said construction correct, certified by the Redeveloper to be a true and correct copy thereof. SRC. 4.. TNffi FOR CQDD:NCFMRNT AM COMPLETION OF 1MPRWFryyNTS. The construction of the improvements referred to in Section 301 hereof shall e c sconced in any event within six (6) months after the date of the e Deed, nd, except as otherwise provided in the Agreement, shall be completed Within eighteen (18) months after h Deed date SRC. 5. TLYR AOR CERTAIN OfRRR ACTIONS. (a) Time for Submteafon of Cona truc tion plane. The time Within xhich the Redeveloper shall evbmft its Construction Plane" (as defined in Section be hereof) to n 0 8 hundred any event, pursuant t^ Section 301 hereof, shall 6e n later than tie huMr¢d twenty (120) days from the date of this Agreement. (b) Time for Submission of Corrected Construction Plans, Except as Provided in Paragraph (c) of this Section 5, the time within which the Redeveloper shall submit any now 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 rejection of the Construction Plane referred to in the latest such notice. It) Maziaam Time for p roved Construction Plana. In any even[, [he time Witt remeM1 the Redevelop¢[ Shell subatt Construction Plans Which conform be the later than ninety Section 301 afterf and a approved by the Agency shall e not later than ninety (SO) days after the dace _ 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. (dv Time for AeetmvCoarse xi Min h h h An ey may tion[[ any ch Plans. The time Provided in Sectio ]DE hereof, shall be forty-five e(45)edays rafter PlaneLon the date Of the Agency's receipt of notice of such change. (a) DOW fr Cubmfaa f coital and barrages in any ev. The time Within awhlch the Redeveloper i^ ^Y even[, evidence as to aqui[ per sh Ill submit to the Agency, mortgage (f,u y capital aha Any -(Sentiment ameeeary for fifteen financing, ee provided to Sact ion JOJ hereof, f, shell be not laser then Redeveloper of approval ( 15 ) days after the date of mitten notice to the Construction PlansShallbe rdeemehe d Stouhave^been a pr s by the Agency ^q if the 301 hereof, after the expfze[ton of chic[ ppr rved a provided In Section receipt by the Age the of the Construction Plans soydaem¢d following appr the dace of approved. SEC. 6. PERIOD OF DURATION OF COegNAM ON USE. The coutunnot Pertaining to the use of the Property, Set forth in Section P 401 hereof. Shell remain In effect from the date of Lhe Ned until January 32, -4- 2022, time period Specified or referred to in the Declaration of Reetrietions 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 delivered if it is dispatched by registered or certified mall, postage prepaid, return receipt requested, or delivered personally, and (1) in the ea of the Redeveloper iS addressed to or delivered Personally to the Redeveloper at Box #1 Plaistow. New Hampshire and ti) In the caof the Agency, is addressed to or delivered personally to the Agency at City Mall, Bangor, Maine or at such other address with respect to either path party as that party may, from time to time, designate in writing and forward to the other as provided in this Section. SEC, R. SPECIAL PROVISIONS None SM. 9. MODIFICATION OF PART II. The following amendments and modifications are hereby made in the terms, covenants. and conditions forming Part It hereof SEC. 10. COUNTERPARTS. c one tTr heAgreement is executed in three (3) counterparts, each of which shall and the same instrument. IN WITNESS NNESECE, the Agency has caused the Agreement to be duly executed in its name and behalf by its Ba, da, t' and Its Beal to be hereunto duly affixed and attested by its _Execut' and the .5- r=dr.cu:nper has caused the Agreement to be duly executed iu its name and hexa It by its President and its corporate seal to be hereunto duly affixed a l attested by its Secretary, on or as of the day first above written. BX //%(9Je�dpevelo/p/ec�,j (Pr sidene) i� Attest in City Council Council order No. jite Attest: Attests (Secretary) A true Copy, Attest: -6- (City Clerk) (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 Maine, more particularly described as follows: Lots numbered 6, 137, 138 and 159, as shown on Plan of Land entitled "Stillwater Park Project, Bangor, Penobscot County, 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 1-9c 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: -7-