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HomeMy WebLinkAbout1971-03-22 145-Y ORDER` Introduced by Councilor/3,odAe�bi ny,'ia CITY OF BANGOR U (TITLE,) (®rbtr,-Alpproving Proposed contract for. Bale of Land in the Stillwater Park Urban Renewal Project Parcel No 62, 63, 66, 67, 75, 76 & 77 By thm City Cswmatt oftha City of Bangor ORDERED, THAT WREREAS, the Urban Renewal Authority of the City of larger proposes to enter into a contract for the sale of parcel nmbered62-63-66-0-75-76 & 77 in the Stillwater Park Urban Renewal Project with Thomas J. Valley & Michael Eremite d/b/a ivy Manor , and Ivy Manor WHEREAS, the said Thomas J. Valley & Michael Eremite d/b/a has offered is pay the am of Ninety -One Hundred and 00/100 Dollars for said parcels , said price being the minister 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 Lew of Maine, 1957, as arcaded, City Council approval of all contracts for the sale of land within the project area is required; and wiEaeAs, the urb'i@R°eP1ER`e41iY€b`ya7E%ai}Ey&A&p�r of the proposed contract wichnomae 7. Vallev & in the office of the City Clerk; NOW, THEREFORE, BE ST ORDERED: THAT the proposed contract on file with the City Clerk be and is hereby approved. 145-Y IN CITY COUNCIL ORDER Mar. 22, 1971 Receiva3 under Suspension of Rules. Ties, The following Councilors voted yes; Bsldacci. Brouster, Cohen, Minsky. Nealley.5sle of Land in Stillwater lark U.R. Vase voting not Bigney. Cox and Momey. ........ Councilor absent' Ballow. (5 yes, 3 no.) Project - Percale NO. 62,63,67,75,76 6 70 Innodueed flied by Couvuilmm STILLWATER PARR PROJECT PRWNCT No. NR. RA PART I of CONTRACT FOR SALE OF lANO FOR PRIVATE REDEVELOPMENT (OFFER AM ACCEPTANCE) By and Between Urban 1 AuthOrit of the City of Bangor and Thomas T. Valley 6 Michael Eremita d/b/a Icy Manor gg{ PART I CONTHii$ Section Paee 1. Sale: Purchase Price 1 3. Conveyance of Property 3. Codd Faith Deposit 3 4. Time for Commencement and Completion of Improvements 4 5. Time for Ceresin Other Attica$ 6. Period of Duration of Covenant on Use 4 I. Notices and Demands 5 B. Special provisions 5 9. Modifications of Part 11 5 10. Counterparts 5 CONTRACT MR SALE OF LAND FOR PRIVATE REDEVELCRIENr AGREEMENT, consisting of this Pert I and Part II (Form H -6209B, 1-64) annexed hereto and made a part hereof (which Part I and Pert II are together hereinafter called "Agreement"), made on or as of the 10th day of October , 1920, by and between the Urban Renewal Authority of the City of Bangor, a public body corporate (which, together with any suc- ceae r 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, 1952, as amended (hereinafter called "Urban Renewal Act") and having its office at City Nell in the City of Bangor (hereinafter called "City'), State of Maine, and the nonce J. Valley & M' corporation organised and existing under the laws of the State of Maine herein flex called "Redeveloper") and having an office for the transaction of business at 90 Hillcrest Road in the City of brewer , County of Penobscot and State of Maine , WITNESSEfN: WHEREAS, in furtherance of the objectives of the. Urban Renewal Mt. the Agency has undertaken a program for the clearance and reconstruction or re- habilitation of alum and blighted areas in the City, andin this connection to engaged in carrying o urban centered, project known an the "Stllluster Park Urban Renewal Project (hereinafter called 'Project") in an area (here- inafter called "Project Area") located 1n the City; and WNERE&S, the Agency has offered to sell and the Redeveloper is willing to purchase certain real property located In the Project Area add more partic- ularly described in Schedule A annexed hereto and made a part hereof (which property as so described 1a hereinafter called "Property") and to redevelop the Property for and in accordance with the a specified in the Declaration a of Restrictions recorded in Penobscot Registry of Deeds, Beak 2113, Page 835 and in accordance wish the agreement; and WHEREAS, the Agency believes that the redevelopment of the Property pur- the1 to the Agreement, and the fulfillment generally of the Agreement, are in vital and beet interests of the City and the health, safety, morale, and -4- welfare of its residents, and in accord with the public purposes and provisions of the applicable Federal, State, and local lave and requirements under Mich the Project has been undertaken and is being assisted: NW. THEREFORE, in consideration of the premises and the mutual obliga- tions of the Patties hereto, each of them does hereby covenant and agree with the other as follows SBC. 1. SALE: PURCHASE PRICE. Subject to all the [acme, 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 [here£[, the amount of N' t - Hundred d 00/100 Dollars ($ 9 100 00 mo 1, hereinafter celled "Purchase Price", to be paid in cash or by Certified cheek simultaneously with the delivery of the deed conveying the Property [o the Redeveloper. SEC. 4. CONVEYANCE OF PROPERTY. (a) Form of Deed. The Agency shall convey to the Redeveloper title to the Property by yarranty Deed (hereinafter called "Deed"). Such conveyance titleand shall, Sectlon)04hereof,, and addition toall other conditions, covenants, and restrictions set forth or referred to elsewhere in the Agreement, be subject to the teams, if any, set forth on said Schedule A, attached hereto. (b) Time aha FLfeeDei Wed. ed. The Agency shall deliver the Deed and possession of the property to the Redeve Loper On l9 , or on such earlier date are the parties hereto may aually agree in writing. mtConveyance shall be made at the principal office of the Agency and the Redeveloper shall accept such conveyance and Pay t0 the Agency at such time and place the Purchase Price. (c) ARooi [torment of Current Taxes, The portion of the current [axes, I4 any. on the Property Mich are a lien n the date of delivery of the Deed to the Redeveloper allocable to buildings and other improvement, Mich hove been demolished ox removed from the Property by the Agency shall be borne by the Agency, and the portion of such cu.rent taxes allocab4e to the land SMIL be apportioned between the Agency and the Redeveloper as of the date of the delivery of the Deed. If the amount of the current saxes on the Property is not ascertainable on such date, the apportionment between the Agency and the Redeveloper shall be em the basis of the amount of the moat recently a er- tamable taxes on the property, but such apportionment shall be subject to final adjustment within thirty (30) days after the date the actual amount of such current taxes is ascertained. (d) Recordation of peed. The Redeveloper shall promptly file the Dred for recoxdeHon in the Penobscot Registry of Deeds at Bangor, Name. The Redevelop[ shall pay all coats (including the cost of the Federal documentary stamtF tax on the Deed, for which stamps in the proper- amount shall be affixed to the peed by the Redeveloper) for so recording the Deed. -2- (e) Further Obligations of the Agency and the Redeve Loner. See Schedule A. SOC. 3. G000 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 de atfafactory to the A cy in the amount of Four Hundred, Fifty -Five ----------- 00 �0 Dollars ($455.00 ), hereinafter called "Deposit", as 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 onaccount of the Purchase Price, as the c my be, in accordance with the Agreement. The Deposit, if cash or certified check, shall be deposited In an account of the Agency in a. beak or trust company selected by it. (b) Interest. no Agency shall be under no obligation m pay o n interest on the Depaeit, but If interest is payable thereon such Interest when received by the Agency shall be promptly paid to, the Redeverl oper. (c) Aooltoatlon to Purchase Price. Upon Witten request of the Redeveloper', the amount of the Deposit, made is 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 Agreement as provided in Sectio 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 Redevelonet. Upon termination of the Agreement a provided in Section 702 hereof, the Deposit shall be returned to the Redwetoper 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 fallowing: (i) 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), trifled by the Redeveloper to be a true and correct copy or copies thereof; (11)':idence satisfactory to the Agency that the interim mortgage Own to assist in financing the construction of the Improvements has been initially closed; (III) A copy of the contract between the Redeveloper and the general contractor for the conatruc tion of the Improvements, certified by the Redeveloper to be a true and correct copy thereof; and (iv) A copy of the contract bond prowided by the general contractor in connection with the aforesaid construction contract whim -3- band shall be In a Penal aum equal to not less than ten percent (10%) of the contract price under said construction contract, certified by the Redeveloper to be a true and correct copy thereof. SEC. 4.. TINE FOR CI#Q9;NC0ffipP AM CMpLETION OF INPROVMNTS. The construction of the Improvements referred to In Section 301 hereof Shall be cneed In any event within six (6) months after the date of the Deed, d, kept as otherwise provided In the Agreement, shall be completed within eighteen (18) months after such Deed date. SRC. 5. TINE FOR CERTAIN OTHER ACTIONS. (a) Time for Submission of Conetmetian Plana. The time within which the Redeveloper eM 1 submit Its ComCiuc[fon Pians" (as tlefSved in Section 301 hereof) to the Agency in any event, pursuant to Section 301 hereof, Shall be no later than one hundred twenty (1T0) days from the date of this Agreement. (b) Time for Submission of Corrected C l Except a provided i Paragraph (c) of this Section 5[th in which the he time wis Redeveloper shall submit any new or corrected' Cotime win Pians ee Provided for in Section All hereof shall be not later then sixty (60) days after the date the Retlevelopar receives written notice from the Agency of the Agency's rejection of the Construction Plana referred to in the latest such notice. Vc) Maximum Tim or Ao ro d p In any event, the time (i' requhin remwhieM1 the Red eveloper shall Submit Construction Plane which conform be Me requirements of Section 301 hereof and a 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 firs[ rejection of the original Construe tion Plans submitted Co It by the Redeveloper. (dW 'jjge for Aeen n ructionYl The time Within hl a Agency say reject any change In the Construction plans, as provld ed In Section ]OT hereof, shall be forty-five (45) days after the date Of the Agency's receipt of notice of such change. (e) Time for nubmisalo f f ii.HorraAge nany eve Th thf 'a'quityheepf to lelodpet eh ill submitdto the nr ev fLue evidence s sa to for. mortgage an :, Shall b necessarye for Ards rop ne tog, as provided In Section 303 ate Of, shall be not later thnn ReJeve t aper of a ( 30 )days after [he dace of written notice to the Cons[tuct ion Planereimll be of tde®eodsto hevenbeen a by the eBency or, If the 301 hereof, after the expiration of shirt ppr wed provided In Section receipt by the Agency of the Cobstruction plane eoyaefoolla wing the date of approved. SEC. 6. PERIOD OF DURATION OF COVENANT ON USE. The covenant Pertaining to the use of the Property, set forth in Section 401 hereof, shall remain In effect from the date of the Used until January TT, -4- 2022, the period specified or referred to in the Declaration of Restrictions Or until such date thereafter to which it my be extended by proper amencment of the Declaration of Restrictions, on which date. An the case may be, such covenant shell terminate. SEC. ). NOTICES AND D&MNOS. A notice, demand, o other co®unication under the Agreement by either party to the other shall be sufficiently given or delivered if it is dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered personally, and (1) in the a of the Redeveloper, is addressed to or delivered personally to the Redeve Loper at 90 Hillcrest Road Brewer, Mane and (it) in the < of the Agency, is addressed to or delivered personally to the Agency at City Na 11, Bangor, Maine or at such other address with respect to either each party as that party my, from time to time, designate in writing and forward to the other as provided 1n this Section. SEC. 9. SPECIAL PRWISION3 SEC. 9. MODIPIGTION OF P:iRT if. The following aumandments and modifications are hereby made in the terms, covenants, and conditions forming Part II hereof SEC. 10. COUNTERPARTS. The Agreement is executed Ln three (3) counterparts, each of which shall constitute one and the same Snetrume at. IN WITNESS WNEREOP, the Agency hes caused the Agreement to be duly executed in its name and behalf by its Executive Director and Its seal to be hereunto duly affixed and attested by Its n rntaZv and the -5- Redeveloper has caused the Agreement to be duly executed in its page 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. By (Presia. c) - Attest: in city council council Order NO. - .ate Attest Attest.' (Secretary) A True Copy, Attest: -6- (Agency) SCHEVIIEA Peecrlption of Property All that certain parcel or parcels of land located in the City of B4neor, County of Penobscot, State of Maine, more particularly described as follows: Lots numbered 62, 63, 66, 67, 75, 76 and 77 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 1-9 inclusive. $Bbject to the following covenants. restrictions and aaemanta: (if none, e. 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: