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HomeMy WebLinkAbout1970-04-27 152-X ORDERIntroduced b Councilor 152-x Y Baldacci, Apr. 27, 1970 /p CITY OF BANGOR - (TITLE.) (Drbtrt..-Approving Pro,P.a ad contract.for Sale of Land in the Stillwater Park Urban Renewal Project Parcel No . 14, 15, 51, 55, 56, 60, 61, 80, 81, 82, 129, 130, 131 & 59 By W City Cowse! of the City of Hoopoe: ORDEEBD, tt tt TUT EPEREAS, the Urban Renewal Authority of the City of Bangor proposes 80e81�8 rtoa contract for the sale of parcel annotated 14 -15 -51 -55 -56 -59 -60 -61 - in the Stillwater Park Urban Renewal Project with Eremita E Valley, Incorporated ; and WHEREAS, the said Eremita & Valley, Incorporated has offered to Pay the mm oficenty Thousand, Three Hundred and 00/100 Dollars for said parre RW , said price being the minim® approved price for said parcel as established by the Urban Renewal Authority and approved by the Department of Rousing and Urban Development' and WHEREAS under the provisions of Chapter 168 of the Private and Special Lane of Maine, 1957, as arcaded, 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 Eremita & Valley, Inc. in the office of the City Clark; NOW, THEREFM, BE IT ORDERED: THAT the proposed contract on file with the City Clerk be aM is hereby approved. IN CITY COONCIL April 27, 1970 PASSED 152-% ORDER nue, Sale of land in Stillwater Pk VR ...................................... .M el.Na: 10 15 51 55 56 60,61,80, ..1.. (..f ..:.............. 82, 129,130,131 s 59. IRtrod and filed by - Conncilnan i STILLNATER PARK PROJECT PROTECT NO. M. RA PART I of CONTRACT FOR SALE OF LAND FOR PRIVATE REOEVELOMn (OFFER ANO ACCEPTANCE) By and Between Urban Renewal Authority of the City of Baneor and Thomas a. Valley & Michael Eremite d/b/a IVy Manor PAST I CONTENTS Section Pace 1. Sale: Purchase Price 2 2. Conveyance of Property 2 3. Good Faith Deposit 3 4. Time for Co®eacemenc and Completion of Improvements 4 5. Time for Certain Other Actions 4 6. Period of Duration of Covenant on Use 4 7. Notices and Demands 8. Special. Provisions 9. nod ifications of Part IT W. counterparts CONTRACT POR SALE OF LAND FOR PRIVATE REDEVELOPMENT AGREEMENT, consisting of this Part I and Part II (Form R-63090, I-64) annexed hereto and made a part hereof (which Part I and Part IT are together hereinafter called "Agreement"), made on or as of the 17th day of March 197tj by and between the Urban. Renewal Authority of the City of Bangor, a public body corporate (which, together with day cue cannot public body or officer hereafter designated by or pursuant to law, is hereinafter called "Agency"), established pursuant to Chapter 168 of the Private and Spacial Lave of the State of Maine, 1951, as amended (hereinafter called "Urban Renewal Act") and Having its office at City Rall In the City of Bangor (hereinafter called "City"), State of Maine, and the Thomas S. Valley 8 Michael Eremite Partners d/b/a Ivy Manor corporation organized and existing under the laws of the State of Maine hereinafter called "Redevetoper") and having an office for the transection of business at 90 Hillcrest Road in the City of Brewer County of Penobscot and State of Mane WiTNESSRfH: WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency has undertaken a program for the clearance and reconstruction or re- habilicatioD of aland blighted areas In the City, and in this c eccion to engaged in carrying out an urban conceal project knownaa the "Stillwater Park Urban Renewal Project" (hereinafter called "Project") in an area (here- inafter called 'Project Area") located in the City; and WHEREAS, the Agency has offered to tall and the Redeveloper is willing to purchase certain reel Property located in the Project Area and more Pattie- ularly described in Schedule A annexed hereto and made a part hereof (which property as so described is hereinafter called 'Property") and to redevelop the Property for and in accordance wt th the uses specified in the Declaration of Restriction recorded 1n Penobscot Registry of Deeds, Book 3113, Page 835 and in accordance with the agreement; ane WHERCAS, the Agency believes that the redevelopmeat of the Property put - asset vicalthe andabest interests the of theCity an gthexallyheal of the Agreement, are In y and the health, safety, la, and -l- welfare of its residents, and in accord with the public purposes and From, ielons of the applicable Federal, State, and local lave and requirements under which the Project has base undertaken and is being assisted: NOW, THEREFORE, in consideration of the premises and the mutual obliga- tions of the parties hereto, each of them does hereby covenant and agree with the other as follows: SRC. 1. SAID: 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 Redevelaper Will purchase the Property from tAgency and pay therefor, the amount of Twenty Thousand S Three Hundrehed Dollars ($ 20,300.00 ), hereinafter relied 'Purchase Price", to be paid 1n cash or by certified check simultaneously with the delivery of the deed conveying the Property to the Redeveloper. SEC. 2. CONVEYANCE OF PROPERTY. (a) Form of Deed. The Agency shall convey to the Redeveloper title to the Property 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 orreferred to elsewhere in the Agreement, be subject to the terms, if any, set forth on said Schedule A, attached hereto. (b) Throe and Place for Delivery of Deed. The Agency shall deliver the Deed and possession of the Property to the Redeveloper on June 1. 19 osuch 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 current 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[roved from the Property by the Agency shall be borne by the Agency, and the Portion of such current taxes 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 data, the apportionment between the Agency and the Redeveloper shall be on the basis of the amount of the most recently ascer- tainable e er tainable 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 1s ascertained. (d) Recordation of Dead. The Redeveloper shall promptly file the Ned for re ordetlon In the Penobscot Registry of Deeds at Berger, Maine. The Redeveloper shall pay all costa (Including the coat of the Federal documentary etas tax on the Dead, for which stamps in the proper' amount Shall be affixed to the Dead by the Redeveloper) for so recording the Deed. -2- (e) Further obliaa[ions of the pedeveloper. See Schedule A. SEG. 3. GOOD FAITH DEPOSIT. (a) Amount. The Redeveloper has, prior to ex simultaneously with the cutlon of the Agreement by the Agency, delivered to the Agency a good faith deposit of cash orscertified check eatlefacLOry to the Agency in thea un[ of One Thousand and fifteen and --------------- 00/loo Dollars (y 1.015.00 1, hereinafter called 'Teposit", as security far the performanme 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, nr its application ancunt of the Purchase Price, as the case may be, to 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. ne Agency shall be under no obligation to pay o interest ono theNpoalt, but if interest to payable thereon each interest rn when received by the. Agency shall be promptly paid to the nedeverloper. (c) Apn llce[lon [o Purchase Yri Upon written request of the per Redevelo, tM1e a ant of the Depoe it, made to cash or by certified check, shell baapplied on a ant of the Purchase Price at the time payment of the Purchase Price is made.co (d) Retention by Aeencv. Upon texmloatlon of the Agreement as provided In Section 103 hereof, the ceposic, if cash, or bonds or similar obligations of the United States, including all interest payable thereen after such termination, or, if a surety bodd, the proceeds thereof, shall be retained by the Agency as provided in Section 103 hereof. (e) Return to Redeveloper. Upon termination. of the Agreement as Provided In Section 102 hereof, the Deposit shall be returned to the Redeveloper by the Agency as provided in Section 102 hereof. If the Agreement shall not have been terminated as in Section 102 or 103 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 coamitudents obtained by the Redeveloper for the m0xtgage loan or loans to assist in financing the construction of the Improvements (as defined in Section 301 hereof), certified by the Redeveloper to be a true and correct cagy or copies [hereof; (SI): Cvidence satisfactory to the Agency that the Interim mortgage Iran to assist in fine :ming the construction of the Improvements has been initially closed; (III) A Copp of the contract between the Redeveloper and the general contractor for the construction of the Improvements, certified by the Redeveloper t0 be a true and correct copy thereof; and (iv) A copy of the contract bond provided by the general contractor In connection with the aforesaid construction contract which -3- bond shall be in a penal sum equal Co not leas 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 C@PENCE4ENT AND CUNLETION OF WROVENENTS. The construction of the Improvements referred to in Section 301 hereof shall be commenced in any event within six (6) months after the date of the Deed, and, except as otherwise provided in the Agreement, shall be completed within eighteen (IR) months after Such Deed date. SEC. 5. TIME FOR CERTAIN OTHER ACTIONS. (a) Time for Eubmfea ion Of Cafiat Ciov Piens. The time within which the Redevelop¢[ shall all j its "Cmone Cruc n plans ^ (as defined in Section 301 hereof) to the Agency in any event, pursuant to Section 301 hereof, shall be no late[ than one hundred twenty (120) days from the date of this Agreement. (b) Time for Submission of Corrected Construction Plana. Except as provided In Paragraph (e) of this Section 5, the time within which the Redeveloper shall submit any new r corrected Construction Plans as provided for in Section 30L hereof shall be not later than sixty (fin) days after the date the Redeveloper receives written notice from the Agency of the Agency's rejection of the Construction Plana referred to in the Latest such notice. (c) Neximum Time for Approved Construction Plans. In any event, the time within 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) drys after the date the Redeveloper receives written notice from the Agency of the Agency's fire[ rejection Of the Original Construction Plans submitted to it by the Redeveloper. (d) Time for pee v Actin, n Ch 1 me time within which Che Agency may rej set any change in the Construction Plan provided in Section 302 hereof, shall be forty-five (45) days after the date of the Agency's receipt of notice of such change. (e) Time for Submission of Evidence of Equity Capital and Mortgage Financing. The tire within which the. Redeveloper shell submit to the Agency, mortgage any event, evidencere as Co equity capital and any commitment Aare for artgageafinancing, s provided in Section 303 hereof, shall be v later than Redeveloper of approva( ) days after the date of written notice to the l of the Construction Plana by the Agency or, if the Construction Plane shall be deemed to have been approved as provided in Section 30L hereof, after the expiration of thirty (30) days fallowing the date of receipt by the Agency of the Construction Plana so deemed approved. SEC. 6. PERIOD OF DURATION OF COVENANT ON ME. The covenant pertaining to the uses of the Property, set forth in Section 401 hereof, shall remain in effect from the data of the need until January 22, -4- 2022, the period specified or referred to in the Rectaration of Restrictions 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 - 0ovenant shall terminate. SCC. ]. 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 to dispatched by registered or certified mail, postage prepaid, return receipt requested, or delivered personally, and (i) in the case of the Redeveloper, is addressed to or delivered personally to the Redevetaper at 90 Hillcrest Road Brewer, Mane and (it) 1n the case Of the Agency, is addressed to or delivered Personally to the Agency at City Hell, Bangor, Maine or at such other address with respect to either each party B that party may, from time to time, designate in writing and forward to the other as provided in this Section. SPC. 0. SPECIAL PROVISIONS SEC. 9. MODIFICATION BE PART I1. The following amendments and modifications are hereby made In the terms, covenants, and conditions forming Part II hereof' SEC. t0. COUNTERPARTS. The Agreement is executed in three (B) counterparts, each Of which shall constitute one and the same Instrument. IN WITNESS WHEREOP, the Agency has caused the Agreement to be duly executed in its game and behalf by its Executive Director and its seat to be hereunto duly affixed and attested by its qec,et, and the -5- Redeveloper has caused the Agreement to be duly executed by Thomas S. Valley and Michael Eremita, Partners d/b/a Ivy Manor on ox as of the day first above written. Attest (Secretary) _- In City Council Date A True Copy, Attest: Attest: Attest: Secretary Partner Council Order No. (City Clerk SCHEDULE A Description of Property All that certain parcel or parcels of land located in the City of 3angor, County Of Penobscot, State of Maine, move Particularly described as follows: Lots numbered 14, 15, 51, 55, 56, 59, 60, 61, 80, 81, 82, 129, 130, and 131, as shown on Plan of Land entitled "Stillwater Park Project, Bangor, Penobscot County, Maine, Urban Renewal Authority of the City of Bangor,Project, Me. H-4" consisting of (9) pa asand recorded in Penobscot Registry of Deeds in Plan Book 24, Pages 1 - 9 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 The Agency agrees to furnish updated topographical maps and a site survey covering the above lots both to be signed by a regtered surveyor and/or engineer. The Agency further agrees to undertake test borings meeting F H A standards. -7-