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
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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.
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(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
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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,
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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
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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:
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(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: