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HomeMy WebLinkAbout1971-03-22 139-Y ORDER139-Y Introduced by Councilor Brountes, March 22, 1971 p CITY OF BANGOR (TITLE.) (Drbfrf-_.Approving Proposed Cunrrract for, Sale of Lend in the Stillwater Park Urban Renewal Project Parcel H19.10-11-12-16-141 BY the City Coanefl of the City ofBonpar: ORDERED, TUT WBEREAS, the Urban Renewal Authority of the City of Banger proposes to enter into a contract for the cele of parcel numbered 10_11-12-12 F 161 in the Stillwater Park Urban Renewal Project with perry Watann ; and WHEREAS, the said Perry Watson has offered to pay the sum of Thirty -Five Hundred and 00/100 Dollars for said parcel said price being the minimim approved price for said 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 1meMe4. 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 Perry Watson in the office of the City Clark; NOW, THEREFORE, BE IT WOERED: TERI the proposed contract on file with the City Clerk be and is hereby approved. 139-Y RECEIVED 1971 MAR 18 IM 4:23 ORDER CITY CLERK'S OFFICE CITY of OeN,OR. MAINE Title, Sale o£ Idnd.in.Stlllw3te[ Paz#.V.R. ................... IN CITY COUNCIL M3[. 22, 1971 p[oject Pa[c el Nom 10 �11�12 X16 X191. ....... ................ Mar. 22 PASS IRtladuced a filed by exluwtn e30. P M. RA nwBa Bo. M.B-A PLL I of Cd1PBBC4 Ta BN,6 Q G D M PBNAM BBBBVBLORmN[ (WFM Alm ACCRTABCB) By am B.tv..n DtBBn bawl Authmit. of N& Cily gf Ao PAR' I amrr s sectiae Page L. gels: Purchase Price 4 Z. Conveyance of Property 1 1. Good Faith Deposit I 4. Tina for Co®smment aM CoaWletlon of Improoeneate 4 5. Tina for certain Other Actio" 4 6. Period of Duration of Covenmt on Dae 4 i, notices and Denanda S. Special Prwlsione 9. Modifications of Part II 10. Counterparts comma POR SALE OF IANU FOR PRIVATE REOEVeLOP1ENI ACgg&ERT, consisting of thin Part 1 and Part II (Form N -6209B, 1-66) amaxed hereto and made a part hereof (which Part I and Part II are together hereinafter called "Agreement"), mads no or as of the nth day of March 197l, by and between the Urban Renewal Authority of the City of Ramer, a public body Corporate (which, together with any aur cessor public body or officer hereafter designed by or pursuant to law, is hereinafter called "Agency"), established pursuant to Chapter 1" of the Private ad Special leas of the State of Maim, 1957, as amended (hereinafter called "Urban Samuel Act") and having its office at City Mall in the City of Bangor (hereinafter called "City"), State of welds, and the Perry S. Watson corporation organised ad existing under the lava of the State of hereinafter called "Redeveloper") and having an office for the transaction Of business at Muis r Avenue in the City of Tovermore Falls , County of Androscoggin_, and Stat* of maiAe , WITiESSKH: WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency hes undertaken a program for the clearance and reconstruction or re- habilitation of elm and blighted acres in the City, and in this connection is engaged In carrying out an urban renewal project known an the "Stlllemow Park Urban Renewal Project" (hereinafter called 'Rroject") in an at" (here- inafter called 'Rroject Area") located in the City; and slaxamS, the Agency Me offered to sell and the Redeveloper is willing to Purchase certain real property located in the Project Area and more partic- ularly described in Scheoule A speared hereto and made a part hereof (which property as so described is hereinafter called 'Rroperty") and to redevelop the Property for and is accordame with the uses Specified in the Declaration e of Restrictions recorded in Penobscot Registry of Crude, Book 2113, Page 835 ad in accordance with the agreement; and WERI+/.S, the Agency believes that the redevelopment of the Property pur- nant to the Agreement, and the fulfillment generally of the Agreement, are in the vital and beat interests of the City and the health, safety, morale, and -1- welfare of its residents, and in accord win the public purposes and provisions of the applicable Federal, State, and local laws and requirements under Mich the Project has been undertaken and is being assisted: NOW, THE SUMMER, in consideration of the prmieas and the matual oblige - t Was of the Parties hereto, each of thus does hereby covenant and agree with the other as follows: SSC. 1. SALE: PURCHASE PRICE. Subject to all the cocoa, covenants, and conditions of the Agreement, the agencypill sell thePropertytto�theeCCodeveloper for,adtthe amount Reu t of pure =try y a pay therefor, Thirty -wive Hundred and --00/100 Dollars 0 -ILS -00-00 -- n ), hereinafter called 'Turchase Price", to be paid in each or by certified check eiwltaaxone ly with the delivery of the dead conveying the Property to the Redeveloper. SSC. 2. CONVEYANCE OF PROPERTY. (a) Form of Deed. The Agency shall easy" to the Redeveloper title to the Property by Warranty Dead (hereinafter celled "Dead"). 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 r set forth o referred to elsewhere In the Agreement ebe subj act to the terms, if any, set forth on said Schedule A, attached hereto. (b) Tim and Place for Delivery of Dead. The Agency shall deliver the Deed and possession of the Property to the Redeveloper on April 15, 1921, o osuch earlier date at the parties hereto may ustually 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 add place the Purchase Price. (e) Apportionment of Current Taxes. The portion of the current tame, if any, on the Property which are a lien on me date of delivery of the peed to the Redeveloper allocable to buildings and other impiovemente which have been demolished or removed from the Property by the Agency shall be borax by the Agency, and the portion of such current taxes allocable to the land shall be apportioned between the Agency add Na 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 m st recently aecet- tainable taxes on the Property, but ouch apportionment shall be subject to final adjus recent within thirty (30) days after the date the actual amount of such current taxes is ascertained. (d) Recordation of Deed. The Redeveloper shall promptly file the Dead for r coadatioo in the Penobscot Registry of Could at Burger, Maine. no Redeveluper shall pay all costs (including the cost of the Federal documentary stamr tax on the Deed, for which access in the proper .mount ount shall be affixed to the Deed by the Radeveloper) for so recording the Ned. -2. (a) further Chit attune of the (teenc and the .developer. See Sehu!Al A. SSC. 3. GOOD FAITH D�IT. (a) Amomt. The Redeveloper has, prior to or simultaneously with the zacution oFLhe Agxeemene by the egewy, delivered to the Agency a good faith deposit of cash ora certified check satisfactory to the Agency in the amount of 0 Hud d St —P1 d -----------00/100 Cellars (S 175.00 ), herofeafter ..lied Depesit , as security for the perfomwe of the obligations of the gedevelWar to be performed pride to the return of the Deposit to the Redeveloper, or its retention by the Agency as liquidated damages, tihre application o theount Of agreement.The Purchase Price, as the case may bbe,ac Deposit, 1£ cash or certified check, shall be deposited 1n an account of the Agency In a bank or tcoat company selected by it. (b) Interest. The Agency dull be under no obligation to pay or es interest on the bposit. but it interest is payable thereon such interest then rteived by the Agency shall be promptly Paid to the Redeverloyer. (c) application to Purchase price. Upon written request of the gedevebopeo, the amount of the Dsposlt, ado in cash or by certified check, shall be applied onount of the Purcbese Price at the time payment of the Purchase Price is codec (d)Retevtton by A¢ency. Upon termination of the Agreement a provided in Section >03 hereof, the 0apos Lt, if cash, or bonds o -Dollar obligations of the United States, Including ail interest payable therein after such termination, or, 1f B surety bond, the pr.cads thereof, shall be retained by the Agency as Provided in Section 703 hereof. (e) Return to Redevsloar• Upon termination of the Agreement a provided in Section 702 hereof, the Despaib shall be returned to the kedweiopex by the Agency as provided in Section 702 hereof. If the agreement shall not shallbreturn theated asreP sit to theSection Redeveloc 703 hereof receipt by the ag agency of Redeveloper upon roc the following: (1) A copy of the comitant or .o®Lrants obtained by the Redeveloper for the mortgage loan or loans to assist In financing the construction of the Imprweants (as defined in Section 301 hereof), ctxtifieof by the Redeveloper to be a true and correct copy or copies thereof; (LI%'+Idence satisfactory to the Agency that the Interim mortgage n to assist in financing the construction of the Improvements has been initially cloud; (SSL) A copy of the contract between the gsdevelopex and the general contractor for the construction a the Improveconts, certified by the Redeveloper to be • true and correct copy thereof: and neral (iv) tcopynaftiion •ithract the afoc saidicoc tructionecontract contractor which -3- band Shall be in a Peoul sm equal to not leu than ten percent (10X) of the contract price under. said construction contract, certified by the Redeveloper to be a true and correct copy thereof. SEC. 4.. TTAE POR coeMNCSsMeT AND CCMPLETION OF MPRWWWV. The construction of the laprovemenee referred to in Section 301 hereof shall be cemented in any event within Six (6) moache after the date of the Deed, and, except as otherwise provided in the Agreement, shall be completed within eighteen (1E) months after such Dead date. SEC. S. TISK POA CASTAIN OTRR ACTIONS. (a) Time for Submission of Cmetraction Plane. The time within Mich the Redeveloper a all submit its Construction Plenea (a. deeima in -------- the 301 hereof) to the Agency in any event, pursuant to Section MI hereof, shall be no later than one hundred twenty (120) days from the date Of this Agreement. (b) T Submission f C ons ted Ctruction Plane. except as provided in Paragraph (c) of this Section 5, the time within which the Redeveloper shall submit any new o corrected Construction Plane as provided for in Section IDI hereof shall besot later than sixty (60) days after the date the Redeveloper receives written notice from the Agency of the rejection of the Construction Plane referred to in the latest such notice. (u) lia-i T E APProved Comeru qM Plena. in any event, the tiae within Mich the Redeveloper shall submit Comtrwtiee Plane Mich conform to the requirements of Section 301 hereof and are approved by the Agency shell be not later than ninety (SO) days after the date . the Redeveloper receives written notice from the Agency of the Agency's first rejection of the original Construction Plane submitted to it by the Eedeveloper. (d)a.. Ohanae i C m[ru�tion Plane. The time 2,ASIMZ tit within Mich 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. (a) Time for Submi0siOn Of HPIARRO Of ult a ital and Mortgage Pi�1 g. The time within Mich the Redeveloper shall Submit to the "Oncy, to any event, evidence as to equity capital and any contingent necessary for mortgage fineming, as provided in Section 303 hereof, shall be not lacer than thi ( 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 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 Plane e0 deemed approved. SEC. 6. PERIOD OF OCMTICN OF COVENANT ON CSR. The ew Dent pertaining to the neesof the Property, set forth in Section 401 hereof, shall regain in effect fromthe date of the need until January 22, -4- 2012, 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, an which date, as the came my be, such covenant shall terminate. SEC. I. NOTICES AND DEMANDS. A notice, demand, orocher ccmmicatlon under the severance by either party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified omit, postage prepaid, return receipt requested, or delivered personally, and (i) in the case of the Redeveloper, is addressed to or delivered personally to the Redeveloper at —1LuvoAve Falls. Maine and (ti) in the caof the Agency, is addressed to or delivered personally to the Agency at City Hall, Bangor, Maine or at such other address with resp act to either Bach patty as that party may, from time to time, designate in writing and forward to the other as provided in this Section. SRC. 8. SPECIAL PROVI5IM NONE. SEC. 9. MODIFICATION OF PART II. The following amendments and modifications are hereby rude in the terms, covenants, and conditions fomeiug Part II hereof - SEC. lo. COUNTERPARTS. The Agreement is executed in three (3) counterparts, each of which shall constitute one and the same Instrument. IN FITNESS WHEREOF, the Agency has caused the Agrement to be duly executed in its nems and behalf by its Executive Director and its seal to be hereunto duly affixed and &treated by its Executive Director , and the -5- Redeveloper has tensed the Agreement to be duly executed in its nem. 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. JOi//—// /(R velo B (President) Attest: (Secretary In city council Council Order No._ )ate Attest: Attest: (Secretary) A True Copy. Attest: 0 (City Clerk) (Agency) T....e.e.�Mr SCHEDULE A Description of Property All that certain Parcel or Percale of land located in the City of Eangor, County of Penobscot, State of Maim, more Particularly described an follows: Lots numbered 10, 11, 12, 16 and 141 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 follosing covenants, restrictions and eanmmta: (if mm, 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: