HomeMy WebLinkAbout1969-03-10 102-W ORDER103-W
Introduced by Councilor Cox, March Vlo, 1969
CITY OF BANGOR
(TITLE.) (DrUrApproving. Proposed Contract for.. Sale of Land _in. the Kenduskeag
Stream Urban Renewal Proiect Parcel No. B--9
By the City Cowmoii of the Qty ofRawprr
ORDERED.
THAT WHEREAS, the Urban Renewal Authority of the City of Bangor
proposes to enter into a contract for the sale of Parcel numbered 5-9 in
the Kenduskeag Stream Urban Renewal Project with Bangor Savings Bank; and
WHEREAS, the said Bangor Savings Bank has offered to pay the
m of Fifteen Thousand Dollars ($15,000) for said parcel, said price being
at least the minimum 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 169 of the Private
and Special Laws of Maine, 1957, as amended, 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 Bangor Savings Bank in the office of the City Clerk;
NOW, THEREFORE, BE IT ORDERED:
THAT the proposed contract on file with the City Clerk be
and is hereby approved.
102-W A.
✓DIVED
1969 {Ag -5 tm 8:56 0 R D E R
Ci7Y CI_FEY'S OFFICE mine,
saie,ot.. "d igxenauskeeg. Stieem. UR....
IN CITY COUNCIL
March 10, 1969 P6ojact - Parcel No. P 9
........ 0 ..............
McKey excused from Voting. PASSED.
Introduced and filed by
tl CITY
C EPK
Councilman
U. S. DEPARTtMW OF HOUSING AM MEAN DEVELOPLIENT
MOAN RENFIYAL PRGGRAL
PART I OF STANDARD FOR4 OF CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT
PART I
OF
CONTRACT FOR
SALE OF LAND FOR PRIVATE NEDEVELOPi.ffM
By and Between
u: osa.
and
SALE OF LAND FOR PRIVATE REDEVELOPMENT
AGREEMENT, consisting of this Part I and Part 11 annexed hereto and made a
part hereof (which Part I and Part II are together hereinafter called "Agreement'),
made an or as of the I 9 day of A 6.� , 19,/8, by and between
the Urban Renewal Authority of the City of Bangor, a Public body corporate (which,
together with any successor 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 ranine, 1957, as amended (here-
inafter called "Urban Renewal Act') and having its office at City Hall in the City
of Bangor (hereinafter called 'City"), State of Caine, and the
a..a , a Corporation organized and existing
under the laws of the State of sea. (here'nafter called "Redeveloper")
and having an office for the transaction of business at
in the City of , County of , and State
of ma.. WITNESSETHi
WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the
Agency has undertaken a program for the clearance and reconstruction or rehabili-
tation of slum and blighted areas in the City, and in this connection is engaged
in carrying out an urban renewal project known as the "kenduskeag Stream Urban
Renewal Project" (hereinafter called 'Project') in an area (hereinafter called
'Project Area") located in the City] and
WHEREAS, as of the date of the Agreement there has been prepared and approved
by the Agency an urban renewal plan for the Project, consisting of the Urban
Renewal Plan, dated May 20, 1964, and approved by the City Council of the City
on June 22, 1964, by Order No. 79-R, as amended by Amendment No. 1 thereof, dated
May 19, 1966, and approved by such Council on June 13, 1966, by order No. 135-T,
and as amended by the Agency by Resolution dated August 25, 1964, Resolution No.
-1-
139, (which plan, as so amanded,and as it may hereafter be further amended from
time to time pursuant to law, and as so constituted from time to time, is, unless
otherwise indicated by the context, hereinafter called "Urban Renewal Plan"); and
WHEREAS, in lieu of the Urban Renewal Plan, a Declaration of Restrictions
has been recorded among the land records for the place in which the project Area
as situate, namely, in the Penobscot County Registry of Deeds, Velma TIMI
Page _ ; aad it Mar arm ton is to ba sweats" to p¢aLLt the ¢wtwpl¢tN vx¢
tatWHEREAS, in order o e"M Te Agency to achieve the objectives of the
Urban Renewal Plan and particularly to make the land in the Project Area available
for redevelopment by private enterprise for redevelopment for and in accordance
with the uses specified in the Urban Renewal Plan, both the Federal Goverment
and the City have undertaken to provide and have provided substantial aid and
assistance to the Agency through a Contract for Loan and Capital Grant dated
December 23, 1964, in the case of the Federal Goverment am a Cooperation
Agreement, dated July 14, 1964, in the case of the City; and
WHEREAS, the Agency has offered to sell and the Redeveloper is willing to
purchase certain real property located in the Project Area and more particularly
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 with the uses specified in the Declaration of Restrictions and
in accordance with the Agreement; and
WHEREAS, the Agency believes that the redevelopment of the Property pursuant
to the Agreement, and the fulfillment generally of the Agreement, are in the
vital and best interests of the City and the health, safety, morals, and welfare
of its residents, and in accord with the public purposes and provisions of the
applicable Federal, State and local laws and requirements under which the Project
has been undertaken and is being assisted,
NOW, tHERPORE, in consideration of the premises and the mutual obligations
of the parties hereto, each of them does hereby covenant and agree with the other
as follower
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SEC. 1. SALE: PURCHASE PRICE
Subject to all the terms, covenants, and conditions of tie Agreement, tie Agency will
sell the Property to the Redeveloper for, and the Redeveloper will purchase the Property
from the Agency and pay therefor, the amount of Fifteen Thousand and 00/100 Dollars
($15,000.00), hereinafter called 'Purchase Price", to be pati in cash or by cerH_ied
check simultaneously with the delivery of the deed convey -ng the Property to the
Redeveloper.
EEC. 3. CONVEYANCE OF PROPERTY
(a) Form of Med. The agency shall convey to the Redeveltpev title to the
Property by Warranty deed (hereinafter (collectively) cal -ed "Deed'), which title shall
be, in the opinion of the attorneys for the Redeve Loper, good and merchantable. Rath
conveyance and title shall, in addition to the condition subsequent provided for in Section 704
hereof, and to all other conditions, covenants, and restrict tone set forth or refeoret to
elsewhere in the Agreement, be subject to the special Provisions net forth in Sect on B
hereof.
(b) Time and Place for Delivery of Deed. The Agency shall deliver the Deed and
possession of the Property. to the Redeveloper within ten ;10) days after approval by the
Department of Housing and Urban Development of the amended Drban Removal Plan permitting
the use of the Property contemplated by the Redeveloper, or As soon thereafter as
reasonably possible. 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 banes, if any, oa
the Property which are a lien on the bete of delivery of the Deed to the Redeveloper
allocable to buildings and other improvements which have Seen demolished of removed from
the Property by the Agency shall be borne by the Agency, and the portion of such catrent
taxes allocable to the lend shall be apportioned between the Ascher and the Redeveioper as
of the date of the delivery of the Deed.
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If the mountof the current taxes on the @operty is met ascertainable on such date, N:e
apportionment between the Agency and the Redeveloper shall be on the basis of
the amount of the most recently ascertainable 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 Deed. The Redeveloper shall promptly file the Deed for
recordation with the Penobscot County Registry of Deeds, The Redeveloper shall
pay all costs (including the cost of any state or Federal real estate transfer
tax on the Deed, for which stamps in the proper amount shall be affixed to the
Dee
ee bbyy t„„e He evelop ) for so reLoll�aa ��,,pp {he Deed. It 1• •Y/a rY CM ttitlx tYt
N PmYt01 Y NW 6ttY lY tY aYl1rY IY Y 4 tYYlt of Gtr l t1Y.
SEC. 3. GOOD FAITH DEPDSIT
(a) Amount. The Redeveloper has, prior to or simultaneously with the
execution of the Agreement by the Agency, delivered to the Agency a goad kith
deposit of cash or a certified check satisfactory to .he Agency in the amount of
4a TAYanM Five tho Or" nta no/100-- Dollars ($I 300.00 ), hereinafter
called "Deposit," as security for the performance of .he 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 on
account of the Purchase Price, as the case may be, in accordance with the Agree-
ment. The Deposit shall be deposited in an account o2 the Agency in a bank or
trust company selected by it.
(b) Interest. The Agency shall be under no obligation to pay or earn
interest on the Deposit, but if interest is payable thereon such interest when
received by the Agency shall be promptly paid to the Redeveloper.
(c) Application to Purchase Price. In the event the Redeveloper is other-
wise entitled to return of the Deposit pursuant to paragraph (e) of this Section,
upon written request of the Redeveloper the amount of the Deposit if paid in cash
or by certified check shall be applied on account of the Purchase Price at the
time payment of the Purchase Price is made.
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(d) Retention by Agency. Upon termination of the Agreement as provided in
Sections 703 and 704 hereof. the Deposit or the proceeds of the Deposit, if not
theretofore returned to the Redeveloper pursuant to paragraph (s) of this Section,
including all interest payable on such Deposit or the proceeds thereof after such
termination, shall be retained by the Agency as provided in Sections 703 and 704
hereof.
(e) Return to Redeveloper. Upon termination of the Agreement as provided in
Section 702 hereof, the Deposit shall be returned to the Redeveloper by the Agency
as provided in Section 702 hereof. If the Agreement shall not have been thereto-
fore terminated and if no cause for termination then exists. the Agency shall
return the Deposit to the Redeveloper upon receipt by the Agency of the following:
(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), certified by the Redeveloper to be
a true and correct copy or copies thereof;
(if) Evidence satisfactory to the Agency that the interim
mortgage loan 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 construction of the Improvements, certified
by the Redeveloper to 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 bond shall
be in a penal sum equal to not less than ten percent (1M) of
the contract price under said construction contract, certified
by the Redeveloper to be a true and correct copy thereof.
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SRC. 4. TIME FOR COMMENCEMENT AND COMPLETION OF IMPROVEMENTS.
The construction of the Improvements referred to 3o Section 301 hereof shall be
commented in any event within twelve (12) months after transfer of title to the
Redeveloper, and, except as otherwise provided in the Agreement, shall be completed
wi=Ain twenty-four (24) months after such date.
SBC. 5. TIME FDR CERTAIN OTHER ACTIONS.
(a) Time for Submission of Preliminary Plans and Outline Specifications Pre-
liminary Plans and Outline Specifications, pursuant to Section 30L hereof were
sumitted April 4, 1961.
(b) Time for Submission of Corrected Preliminary Plans and Outline specificaticrs.
In the event of a rejection by the Agency of the preliminary Plans and Outline Specifications
as outlined In Section 301 hereof, the Redeveloper shall, within thirty (30) days after
the date the Redeveloper receives the written notice of such rejection resubmit the
Praliminery Plana and Outline Specifications altered to meet the grounds of reject -cm.
(c) Maximum Time for Submission of Preliminary Plana and Outline Specifications.
In any event, the time within which the Redeveloper shall submit Preliminary Plans and
Outline Specifications which conform to the requirements of Section 301 hereof and are
appuove3 by the Agency shall be not later than ninety (90) days after the execution
of this Agreement.
(d) Tim for Agency Action on Preliminary Plans and Outline "£ i Puts aint
to Section 301 hereof, the Agency shall notify the Redeveloper of its approval of --ctim 3f
tha preliminary Plana and Outline Specifications within thirty (30) days of their
suamassion, or any resubmission thereof as hereinbefore provided.
(e) Time for Submission of Final Architectural Plans and SPecificatiors. TVs time
wi-hin which the Redeveloper shall submit Final Architectural Plane and Speci£icattcna,
pursuant to Section 301 hereof, shall be not later than one hundred fifty (150)
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( ) days after the Preliminary Plans and Outline Specifications are approved,
and in any event not later than jVD) days after the execution
of this Agreement.
(f) Time for Submission of Corrected Final Architectural Plans and
Specifications. In the event of a rejection by the Agency of the Final
Architectural Plans and Specifications, pursuant to Section 3D1 here0f, the
Rdeveloper shall within thirty (SO) days after the date the Redeveloper receives
the written notice of such disapproval, resubmit the Final Architectural Plans
and Specifications altered to meet the grounds of rejection. In any event, the
time within which the Redeveloper shall submit Final Architectural Plans and
Specifications which conform to the requirements Of Section 331 hereof, and are
approved by the Agency shall be not later than w.M ((y) days
after the execution of this Agreement.
(g) Time for Agency Action Final Architectural Plans and Specifications.
Pursuant to Section 301 hereof, the Agency shall notify the Redeveloper of its
approval or rejection of the Final Architectural Pans and Specifications within
thirty (30) days of their submission, or any resubmission thereof as hereinbefore
provided.
(h) Time for Submission of Evidence f Equity Cantial and portoace Financl h
The time within which the Redeveloper shall submit to the Agency, in any event,
evidence as to equity capital and any commitment necessary for mortgage financing,
s provided in Section 303 hereof, shall be not later than ( Id
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 capped
to have been approved as provided In Section 301 hersof, after the expiration of
thirty (30) days following the date of receipt by the Agency of the Construction
Plans so deemed approved.
SEC. 6. PERIOD OF DURATION OF COVENANT ON USE.
The covenant pertaining to the uses of the Property, set forth in Section
-
401 hereof, shall remain in effect from the date of the Deed until June M, 1904,
the period specified or referred 4JJN% MR0WAM;AR16Mof Restrictions, or until
such date thereafter to which it may be extended by proper amendment of the Urban
Renewal Plan, on which date, as the case may be, suct covenant shall terminate.
SEC. 7. NOTICES AND DEIVNDS.
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 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 Redeveloper at
and
(if) in the case of the Agency, is addressed to or delivered personally to
the Agency at City hall, Bangor, Maine, or at such other address with
respect to either party as that party may, from time to time, designate
in writing and forward to the other as provided in this Section.
SEC. 8. SPECIAL P80VISIONS
Le Rider erceched (Paged M - BB)
SM. 9. AgDIFICATICNS OF PART II.
The following amendments and modifications are hereby made in the teams,
covenants, and conditions forming Part II hereof+
Q:�
Section S. SPECIAL PROVISIONS
A. The passageway which extends generally along the southerly line of the
Kenduskeag Building and the present Bangor Savings Batik building to the Kerduskeag
Stream is to be eliminated and all rights therein shall be released.
B. A right of way is to be granted to Bangor Savings Bank In accordance with
Schedule B attached hereto may land retained by the Agency generally extending from
the southerly end of the 13' passageway between the Kenduskeag Building and Exchange
Building to land of Bangor Savings Bank which adjoins York Street. .aid Bangor
Savings Bank will great to the Agency and all Other parties who have released these
rights in said 13' Passageway a right of way over its landin accordance with
Schedule C attached hereto so that there shall be open passage from State Street to
York Street.
C. The Redeveloper acknowledges the existence of three private sewers serving
property on Exchange Street (Exchange Building, Braes Rail Building End Emerson
Eoilding), and the Agency agrees. to secure the necessary permission from the parties
having rights in said sewers, in farm satisfactory to the Redeveloper whereby the
Redeveloper shall have the eight to construct any buildings or improvements over said
sewers, or, at its option, the right to relocate such sewers, or any of them, at its
expense, at any time. It is agreed by the Redeveloper that In the event repairs and
maintenance to any of said sewers located under its building are Such as to require
excavation or other work within the confices of said building, that such maintenance
and repair is the responsibility Of the Redeveloper and such maintenance and repair,
Including relocation if deemed advisable by the Redeveloper Shall be undertaken as
soon as practicable. It is further understood however that routine servicing of said
sewers not requiring access to the building shall be'the reaponsibil_ty of the party
or parties being served by said Sewers or any of them. It is further understood that
the deed from the Agency to the Redeveloper shall contain a covenant to that affect,
in the alternative that the Redeveloper will enter into an agreement to that
effect with those parties being served by said sewers. In the event the sewer lines,
or any of them, are relocated to a location clear of the building, the obligations
(BA)
for mctntenance and repair Baal: revert to the party or per_ies being served Sy said
saver or assets, and the Redeveloper shall &rant an appropriate easement tc permit
entry upon tts land for such purposes.
B. It is understood by the Redeveloper and the Agency dust while the
descriptions set forth in Schedules A, B add C attached to Pont II are generally
correct, they are subject to some revision for the purpose of including v none
easements and other matters.
E. Am a canditiot of said conveyance, the Redeveloper hereby agcecs that the
Authority may at any time change the Urban Eeneval Plan and the Beclaatior. of
Restrictions In any meaner so long as Held changes do Oct adversely affecr the use and
enjoyment of the premises of the Redeveloper
(8B)
DEPARTMENT OF HMSINO AND URBAN DEVELOPMENT
uRBAY RENEWAL PROOFAM
TEAM AND CONDITIONS
Part II
CONTRACT
FOR
SALE OF LAND FOR PRIVATE REDEVELOPMENT
By and Between
URBAN RENEWAL AUTHORITY OF THE CITY OF BANGOR
and
YWOI mvS Y
ARTICLE I. PREPARATION OF PROPERTY FOR REDEVELOPMENT
SEC, 101. Work To Be Performed by A¢eacy. The Agency shall, prior to convoy-
ance of the Property and without expense to the Redeveloper, prepare the Property for
redevelopment by the Redeveloper in accordance with the Urban Renewal Plan and the
Agreement. Such preparation of the Property shall consist of the following (unless
the Agency and the Redeveloper hereafter agree In writing that any of such prepara-
tion shall not be done, or that it shall be done subsequent to the conveyance of the
Property):
(a) Demolition add Removal. The demolition and removal to the surface eleva-
tion of the adjoining ground of all existing buildings, other structures
and improvements on the Property, including the removal of all bricks,
lumber, pipes, equipment and other material, and all debris and rubbish re -
Selling from such demolition, except such material and debris as may be
used for any filling required by this Section.
(b) Reduction of Walls. The reduction of all wake, including foundation
walls, to the surface elevation of the adjoining ground.
(c) Breaking UP Easement Pilots. The breaking up of all basement or cellar
floors sufficiently to permit proper drainage.
(d) Removal of Pavine. The removal by the Agency or by the appropriate public
body of all paving (Including catch basins, curbs, gutters, drives, and
sidewalks) within or on the Property.
(e) Removal of Public Utility Lines. Ther emoval or abandonment by the Agency
or by the appropriate body or public utility company of all public utility
lines, installations, facilities, and related equipment within or on the
Property.
(f) Pilling and Grading. Such filling, grading, and leveling of the land (but
not including topsoil or landscaping) as will permit proper drainage and
piece the Property In a safe, clean, sanitary and nonhazardous condition.
(g) Filling Materials. The fining of all basemelts or other excavations ex-
posed as a result of the work performed by the Agency pursuant to this
Section, with noncombustible materials to a level twelve (13) inches below
the surface of the adjoining ground on all Sides thereof.
SEC. 102. Expenses, Income and Salvage. All expenses, including entreat taxes,
if any, relating to buildings or other structures demolished or to be demolished in
accordance with Section LUL hereof shall be borne by, and all income or salvage re -
calved as a result of the demolition of such buildings or at matures shall belong
to the Agency.
SEC. 103. Agency's Responsibilities for Certain Other Actions -
cHans. The Agency,
without expense to the Redeveloper or assessmento claim against the Property and
prior to completion of the Improvements (orat such earlier time or times as the Re-
developer and the Agency may agree In writing), shall, in accordance with the Urban
Renewal Plan, provide or secure or cause to be provided or secured, the fallowing:
(a) Vacation of Streets Etc. The closing and vacation of all existing streets,
allays and other public rights-of-way within or abutting on the Property,
except as may be otherwise provided within the Agreement.
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(b) le lI rlgj desub1;Ieli an r ReeonlnR. The replotting, subdivieioa o
ing of Me Property, of
necessary for the conveyancethereofto the
Redeveloper.
(c) Improvements of existing Street. The improvement (by the Agency or by
the appropriate public body) by resurfacing, rebuilding or new construction
In accordance with the technical specifications, standards and practices
of the City, of the existing streets, alleys, or other public rights-of-
way (including catch basins, curbs and gutters, drive and curb cute, and
drives between the property line of the Property and the public rights-of-
way) abutting on the Property.
(d) Construction and nedicatlon of New Streets. The construction (by the
Agency or by the appropriate public body), in accordance with the technical
Specifications, staadacda and practices of the City, and the dedication
of all new streets, alleys and other public rights-of-way (inc luding catch
basins, curbs and gutters) abutting on the Property.
(e) Installation of Sidewalks. The installation (by the Agency or by the
appropriate public body), in accordance with the. technical specifications,
standards and practices of the City, of public sidewalks along the front-
age of the public streets abutting on the Property or within the rights-
of-way lines of such public streets, together with sodding or seeding of
any such publica rea between such sidewalks or the curb lines of such
public streets.
(f) Street Lighting, Signs and Fire Hydrants. The installation (by the Agency
or by the appropriate public body), in accordance with the technical
specifications, standards and practices by the City, of street lighting,
Signs and fixe hydrants in connection with all new streets abutting o
the Property and to be constructed pursuant to this Section.
(g) Installation of Public Utilities, The installation or relocation (by the
Agency or by the appropriate public body or public utility company) of such
drains, water and gas distribution lines, electric, telephone and
telegraph lines, and all other public utility lines, installations aM
facilities a ary to be installed o relocated on r In c -
ties with the Property by reason of the redevelopment contemplated by the
Urban Renewal Plan and the development of the Property: Provided that
the Agency shall not be responsible for, not bear any portion of the cast
Of, installing the necessary utility connections within the boundaries of
the Property between the Improvements to be constructed on the Property
by the Redeveloper and the water, sanitary a and storm drain raise or
other public utility lines owned by the City or by
by any public utility
company within or without such boundaries, or electric, gas, telephone, or
other public utility lines Owned by any public utility company within or
without such boundaries, and the Redeveloper shall secure any permits
required for any Such installation without coat or expense to the agency.
SBC. 104. Waiver of Claims and Joining in Petition by Codeveloper. The Rede-
veloper hereby waives (as the purchaser of the Property under the Agreement and as
the Owner after the conveyance of the Property provided for in the Agreement) any and
all claims t wards of damages, if any, to compensate for the closing, evacation, o
change of grade of any street, alley or other public right-of-way within or fronting
or abutting on, or adjacent to, the Property which, pursuant to subdivision (a) of
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Section 103 hereof, is to be closed or vacated, or the grade of which is to be
changed, and shall upon the request of the Agency subscribe to, and join with, the
Agency in any petition or proceeding required for such vacation, dedication, change
of grade, and, to the extent necessary, rezoning, and execute any waiver or other
document in respect thereof.
ARTICLE 11. RIGHTS OF ACCESS TO PROPERTY
SEC. 201. Richt of Entry fox Ue it ittes Service. The Agency reserves for
itself, the City, and any public utility company, a may be Appropriate,
unqualified right c enter upon the Property at all sreasonable times for the purpose of
reconstructing, maintaining, repairing o ting thpublic utilities located
Within the Property boundary linea and provided for in the easements described or
referred to in Paragraph (a), Section 2 of Part 1 hereof.
SEC. 202. Redeveloper Not To Construct Over Utility Easements. The Redeveloper
shall not construct any building or other structure improvement o or within
the boundary lines of any easement for public utilities described or referred to in
Paragraph (a), Section 2 of Part 1 hereof, unless such construction is provided for
in such easement or has been approved by the City. If approval for such construction
is requested by the Redeveloper, the Agency shall use its best efforts to assure
that such approval shall not be withheld unreasonably.
SEC. 203. Aeceea to Property. Prior to the conveyance of the Property 'oy the
Agency to the Redeveloper, the Agency shall permit representatives of the Redeveloper
to have access to any part of the Property as to which the Agency holds title, at all
reasonable times for the purpose of obtaining data and making variouconcerning
tests c rning
thec
Property necessary to carry out the Agreement. After the conveyance of the
Property by the Agency to the Redeveloper, the Redeveloper shall permit the
representatives of the Agency, the City and the United States of America access to
the Property at all r m
reasonable times which any of them crunch necessary forthe pur-
poses of the Agreement, the Cooperation Agreement, or the Contract for Loan and
Capital Grant, including, but not limited to, inspection of all work being performed
to connection with the construction of the Improvements. No compensation shall be
Payable nor shall any charge be mode in any form by any party for the access proviced
for In this Section.
ARTICLE 111. CONSTRUCTION PLANS; CONSTRUCTION OF
IAPROVEMENTS; CERTIFICATE OR CCMPLRTION
SRC. 301. Plans for Construction of Improvements.
(a) The Redeveloper has submitted to the Agency preliminary
plans ata scale specified by the Agency and outline
specifications prepared by the Architect, including a
rendering, indicating surrounding buildings, all elevations
and such perspectives as necessary to show the architectural
character of the Improvements, for all of the improvements to
beucted by it on the Property in accordance with the Urban
Renewal Plan and this Agreement.
The Agency shall review and approve or -reject such
preliminary plana and specifications add shall promptly
notify the Redeveloper of its approval or rejection in writing,
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(b)
(e)
setting forth in detail any grounds for rejection. If n
grounds of rejection are delivered in writing to the Redeveloper
within thirty (30) days after the submission of the preliminary
pians and outline specifications, or any resubmission thereof as
hereinafter provided, such plans and specifications shall be deemed
approved.
In the event of a rejection, the Redeveloper shall, within
thirty (30) days after the date the Redeveloper receives the
written notice of such rejection, resubmit tie preliminary plana
and outline specifications altered to meet tae grounds of rejection. The
submission shall be subject to the review aid approval of the Agency
in accordance with the procedure hereinabove provided for an original
Submission, until preliminary plans and outline specifications shat: be
approved by the Agency; provided, however, that the Redeveloper shall
submit preliminary plans and outline specifications which meet the
requirements of this subsection and the approval of the Agency within
ninety (SU) days after the execution of this Agreement.
Within one hundred fifty (150) days after the preliminary plane and outline
specifications are approved, or deemed approved, by the Agency, and in any
event within me hundred fifty (150) days after the execution of this
Agreement, the Redeveloper shall submit to the Agency final architectural
plans and specifications prepared by the Architect and in conformity with the
previously approved preliminary plans and outline Specifications, tae Urban
Renewal Plan and this Agreement.
e Final architectural plane and specifications submitted hereunder stall
be reviewed for such conformity in accordance with the review and approval
procedure, set forth in subsection (a) herecf; provided, however, tut the
Redeveloper Shall submit final architectural plans and specifications
whith meat the requirements of this subsection and the approval of the
Agency within one hundred fifty (150) days after the execution of this
Agreement.
The Redevelopershall not apply for a building permit for the cnnatruc ticn
of the Improvements to be erected on the Property without the prfov cer-
tification of the Authority that the work to be done or completed is i
ordance with the final architectural plane and specifications approved
by the Agency in accordance with the provisions of this Agreement. No
work shall be done on the construction of the improvements to be arectet
n the Property unless such work conforms In every respect to such approved
final architectural plane and specifications, except and only to the extent
that modifications thereof have been requested by the Redeveloper in
citing and have been approved in writing by the Agency. In the event the
Redeveloper shall fail c comply with the foregoing requirements, tte Agency
may, within a raonablq time after discovery thereof by the Agency, direct
in writing that the Redeveloper so modify orouct such portion o=
portions of the Improvements erected or beingcreatedon the Property a
ate not in confprmmm with the approved final architectural plane and
specifications orany approved modifications thereof, as to bring them
into conformance therewith. The Redeveloper shall promptly comply with
i
such a directive, and shall not proceed further with construction of the
Improvements until such directive is complied with. Any delays in com-
pletion of the Improvements .resulting from such unapproved modification
or reconstruction shall not be a ground for the extension of the time
limits of construction on the Property as provided for in Section 707 of
Part II of this Agreement.
(d) In submitting plane and specifications to the Agency for its approval,
the Redeveloper shall consider and take into account the planning and
design Objectives set forth in the Plan, and the Agency shall pursue such
objectives in its review of and action upon the plane and specifications
so submitted.
SEC. 303. Evidence of BO situ Capital and Ort'
a e PIn As promptly a
Possible after approval by the Agency of the Construction Plans, and,r any event,
s
o later than the time specified therefor n Paragraph (e), Section 5of Part 1
hereof, the Redeveloper shall submit to the Agency evidence satisfactory to the
Agency that the Redeveloper has the equity capital and commitments for mortgage
financing necessary for the construction of the Improvements.
SEC. 304. Approvals of Construction Plans and Evidence of Pi,uncin As
di[ions Precedent to Convevanc e. The submission of Construction Plane and their
approval by the Agency as provided in Section 301 hereof, and the submission of
evidence of equity capital and commitments for mortgage financing as provided i
Section 303 hereof, conditions precedent to the obligation of the Agency to
e
convey the Property tothe Redeveloper.
SEC. 305. Commencement and Completion of COW truction of Improvements. The
Redeveloper agrees for Itself, its a ns
and assig, and eery successor in
interest to the Property, o any pare thereof, and the Deed shall contain co ants
n the part of the Redeveloper for Itself and such successors and assigns, that the
Redeveloper and such successors
s a
e s and assigns shall prompoly begin and diligently
prosecute to completiontheredevelopment of the Proper=y through the construction
of the Improvements thereon, and that such coca reaction shell in any event be be-
gun within themperiod specified i such Section 4 of Part I hereof and becompleted
within the period specified in such Section 4. It is intended and agreed, and the
Deed shall so expressly provide, that such agreements and covenants shall be cove-
nants running with the land and that they shall, in any event, andwithoutregard
to technical classification or designation, Legal or otherwise, and except only a
otherwise specifically provided is the Agreement itself, be, to the fullest extent
Permitted by law and equity, binding for the benefit of the community and the Agency
and enforceable by the Agency against the Redeveloper and its successors and assigns
to or of the Property or any part thereof or any interest therein.
EEC. 306. Progress Reports. Subsequent to conveyance of the Property, or any
Part thereof, to the Redeveloper, and until construction of the Improvements has
been completed, the Redeve Loper shall make reports, in such detail and at such times
as y reasonably be requested he Agency, as to the actual progress of the me -
developer with respect [ h construction.
SEC. 307. Certificate Of Completion.
(a) Promptly after completion of the Improvements in accordance with those
provisions Of the Agreement relating solely to the obligations of the Redeveloper
-5-
t0 construct the Improvements (including the dates for beginning and completion
thereof), the Agency will furnish the Redeveloper with an appropriate instrument
so certifying. Such certification by the Agency shall be (and it shall be so pro-
vided in the Deed and in the certification itself) a conclusive determination of
satisfaction and termination of the agreements and covenants in the Agreement and
the Deed with respect to the obligations of the Redeveloper, and its auand
assigns,o
to construct the Improvements and the dates for the beginning andscemple-
tion thereof; Provided that if there is upon the Property a mortgage insured o
held or owned by the Federal Rousing Administration and the Federal Rousing Admin-
istration shall have determined that all buildings constituting a part Of the Im-
provements and covered by such mortgage are, in fact, substantially completed in
accordance with the Construction Plana and are ready for occupancy, then, in such
eat, the Agency and the Redeveloper shall accept the determination of the Federal
Rousing Administration as to such completion of the construction of the Improvements
in accordance with the Construction Plane, and, if the other agreements and coven-
ants
-
ants in the Agreement obligating the Redeveloper in respect of the construction and
completion of the Improvements have been fully satisfied, the Agency shall forth-
with issue its certification provided for in this Section. Such certification and
such determination shall not constitute evidence of compliance with or satisfaction
of any obligation of the Redeve Loper to any holder of a mortgage, or any insurer of
a mortgage, Securing money loaned to finance the Improvements, or any part thereof.
(b) With respect to such individual parte or parcels of the Property which,
it so provided in Part I hereof, the Redeveloper may csnvey or lease as the Improve-
ments to be constructed thereon are completed, the Ageacy will also, upon proper
completion of the Improvements relating to any such part or parcel, certify to the
Redeveloper that such Improvements have been made in arcordance with the provisions
of the Agreement. Such certification shall mean
and provide, (1) that any party
purchasing or Leasing such individual pert or parcel pursuant to the authorization
herein contained shall not (because of such purchase or lease) incur any obligation
with respect to the construction of the Improvements relating to such part or parcel
r to any other part or parcel of the Property; and (y) that neither the Agency n0
any other party shall thereafter have or be entitled to exercise with respect to
any such individual part or parcel so sold (or, in the case of lease, with respect
to the leasehold interest) any rights Or remedies or controls that it may otherwise
have or be entitled to exercise with respect to CheProperty a sole of a de-
fault i Or breach of any provisions of the Agreement or the Deed by the Redevelo-
per or any successor In interest or assign, unless (i) such default or breach be by
the pruchaser or leasee, or any Successor
r
r in interest to o sign of such individ-
ual part or parcel with respect to thee covenants contained and referred to in
Section 401 hereof, and (f1) the right, remedy or control relates to such default
Or breach.
(c) Path certification provided for In this Section 307 shall be in such
form as will enable it to be recorded in the proper office for the recordation of
deeds and other instruments pertaining to the Property, including theDeed. If
the Agency shall refuse or fail to provide any certification in accordance with
the provisions of this Section, the Agency shall, with¢ thirty (30) days after
written request by the Redeveloper, provide the Redeveloper with a written e e -
mene, indicating i adequate detail in what respects the Redeveloper has failed to
complete the Improvements i accordance with the provisions Of the Agreement, or is
Otherwise in default, and whameasures or acts it will be necessary, in the - -
Opinion of the Agency, for the Redeveloper to take or perform in order to obtain
such certification.
-6-
ARTICLE IV. RESTRICTIONS UPON USE OF PROPERTY
SEC. 401. Restrictions on Use. The Redeveloper agrees for itself, and its
end assigns, and eery successor in Interest to the Property, s any
successors v n so r
part thereof, and CM1e Deed shall contain covenants he Rtie-d part er, the &such Loper
succe
for itself, and each successors and eselgnes, ethet the Badeve toper, and such auccea
sore had assigns, ahall�ce
(a) Devote the Property to and only to and in a ordance with the u
specified eciifieiintto ne
the
Declart aration of Restrictions; t and the Urban Renewal Plan
(b) Not rdisecriminate upon the basis of race,
color, creed o national
origin in the sale, lease o ental orin the use or occupancy of
the Property or any improvements erected az to be erected thereon,
or any part thereof.
SEC. 402. Covenants; Binding Upon Successors in forecast; Period of Duration.
It is intended and agreed, and the Dead shall so expressly provide, that the agree-
ments and covenants provided in Section 601 hereof shall be covenants running with
the land and that they shall, in any event, and without regard to technical claasi-
fication or designation, legal or otherwise, and except only as otherwise specific-
ally provided in the Agreement, be binding, to the fullest extent permitted by law
and equity, for the benefit and in favor of, and enforceable by, the Agency, its
and assigns, the City and any successorinterest to the Property, o
any part thereof,
thereof, and the owner of any other land (or any interest in such land) in
the Project Area which is subject to the land use
requirements and restrictions of
the Declaration of Restrictions, and the United States (in the case of the covenant
provided In subdivision (b) of Section 401 hereof), against the Redeveloper, its
successors and assigns and every successor in interest to the Property, a any
part thereof o any interest therein, and any party In possession or occupancy of
the Property or any part thereof. It is further intended and agreed that the agree-
ment and covenant provided in subdivision (a) of Sectfcn 401 hereof shall regain in
effect for the period of time, or until the date, specified or referred to i
Section b of Part I hereof (at which time such agreement and cant shall remain -
ate) and that the agreements and covenants provided i subdivision (b) of Section
401 hereof shall remain in effect without limitation as t0 time: Provided, that
such agreements and cove mets shall be binding on the Redeveloper itself, each
successor in interest to the Property, and every part thereof, and each party in
possession or occupancy, respectively, only for such period as such successor or
Party shall have title to, o an
s interest in, or possession occupancy
of, the
Property or part thereof. Thes
is=, " specifiedin the Urban Renewal Plan" and
"land a referring to provisions of the Urban Renewal Plan, or similar language,
in the Agreement shall include the land and all building, housing, and other ra
quirementa ox restrictions of the Urban Renewal Plan pertaining t0 such land.
SEC. 403. Agency and United States Rights to Enforce. In amplification, and
not in restriction, of the provisions of the preceding Section, it is Intended and
agreed that the Agency and its s and assigns shall be deemed beneficiaries
of the alleementa and covenants provided In Section 401 hereof, and the United
States shall be deemed abeneficiary of the covenant provided in subdivision (b)
of Section 401 hereof, both for and In their or its o right and also for the
purposes of protecting the interests of the community and other parties, public or
private, in whose favor or for whose benefit such agreements and covenants have
-7-
been provided. Such agreements and covenants shall (and the Deed shall so state) tun
in favor of the Agency and the United States, for the entire period during which such
agreements and covenants shall be in force and effect, without regard to whether the
Agency or the United States has at any time been,remains, or is an owner of any
land or Interest therein to or In favor of which such agreements and casements
relate. The Agency shall have the right, in the event of any breach of any such
agreement of covenant, and the United States shall have the right in the event of any
breach of the covenant provided in subdivision (b) of Section 401 hereof, taexercise
all the rights and remedies, and to maintain any actions or suite at Law or in
equity or other proper proceedings to enforce the curing of such breach of agreement
or ,ant, to which it or any other beneficiaries of such agreement or covenant may
be entitled, but nothing herein contained shall obligate the Agency to institute or
prosecute such curative action.
SEC. 404. Advertising. The Codeveloper agrees for itself, its successors and
signs, that during construction and thereafter the Redeveloper, and its au
and assigns, shall include in all advertising for the sale or rental of the Property
statement to the effect (a) that the Property is open to all persons without dia-
crimination on the basis of race, color, creed or na efonal origin and (b) that there
shall be no discrimination in public access and use of the property to the extent
that it i open to the public.
ARTICLE V. PROaIHITIONS AGAINST ASSIMENT AND TRANSFER
SEC. 501. Representations as to Redevelopment. The Redeveloper represents and
agrees that its purchase of the Property, and its other undertakings pursuant to the
Agra and will be used, for the propos of redevelopment of the Property
and not for speculation in land holding. The Redeveloper further recognises that,
in view of
(a) the importance of the redevelopment of the Property to the general
welfare of the community;
(b) the substantial financing and other public aide that have been made
available by law and by the Federal and local governments for the
purpose of making such redevelopment possible; and
(c) the fact that a transfer of the stock in the Redeveloper or of a
substantial part thereof, or any other act or transaction involving
or resulting in a significant change in the ownership or distribution
of such stock or with respect to the identity of the parties in con-
trol of the Redeveloper or the degree thereof, is for practical
purposes a transfer or disposition of the Property then owned by the
Redeveloper,
the qualifications and identity of the Redeveloper, and its stockholders, are of par-
ticular concern to the community and the Agency. The Redeveloper further recognizes
that it is because of such qualifications and identity -fiat the Agency is entering
into the Agreement with the Redeveloper, and, in so doing, is further willing t
accept and rely on the obligations of the Redeveloper for the faithful performance
of all undertakings and covenants hereby by it to be performed without requiring in
addition a surety bond o similar undertaking for such performance of all undertakings
and covenants in the Agreement.
-a-
SRC. 502. Prohibition A2mn1f,Tranefat of SM1axec of.Rorork: Aindiop Moon Stock-
holders Indiviqhjz�ll . For the foregoing reasons, the &edeveloper represents and
agrees for itself, its stockholders, and any successor n interest of itself and its
stockholders, respectively, that: Prior to completion of the Improvements a cer-
tified by the Agency, and without the prior written approval of the Agency, (a)
there shall be no transfer by any party awning 10 per cent ormore of the stock is
the Redeveloper (which term shell be deemed for the purposeeof this and related o
isions to include successors in interest of such stock or any part thereof or in-
terest therein), (b)norQB shall any such ow suffer a such transfer to be made,
(c) n shall there be or be suffered to be by the Redeveloper, on by any owner of
10 per cent ormore of the stock therein, any other similarly significant change in
the ownership of such stock or to the relative distribution thereof, or with respect
to the identity of the parties In control of the Redeveloper or the degree [hereof,
by any other method or means, whether by increased capitalization, merger with
Another corporation, corporate o other amendments, issuance of additional o
stock or classification of stocks o otherwise. With respect to this provision w
rthe
RedeveLope[ and the parties signing the Agreemeat on behalf O£ the Redeveloper repre-
eat that they have the authority of all of its existing stockholders to agree to
this provision on their behalf and to bind [hem with respect thereto.
SRC. 503. Prohibition Against Transfer of Property and Assignment of Agreement.
ALSO, for the foregoing reasons the Redeveloper represents am agrees for Itself, and
its successors am assigns, that:
(a) except only
(1) by way of security for, and only for, (1) the purpose of obtaining
financing necessary to enable the Redeveloper o any successor in
interest tothe Property, o any par[ thereof, to perform itsob-
ligations with respect to making the Improvementa under the Agree-
ment, and (ii) any other purpose authorized by the Agreement, and
(2) as to any Individual parts or parcels of the Property on which
the Improvements to be constructed thereon have been completed,
and which, by the terms of the Agreement, the Redeveloper is
authorized to convey or lease as such Improvements are completed,
the Redeveloper (except as so authorized) has not made or eated,. and that it will
mq prior to the proper completion of the Improvements as ertified by the Agency,
make or create, or suffer to be made o created, any total or partial sale, assign-
nveyance, or lease, o any trueor power, or transfer in any other mode o
form of or with respect to the Agreement or the Property, or any part thereof or any
interest therein or any contract or agreement to do any of the a without the
prier written approval of the Agency: Provided, that, prior to the issuance by the
Agency of the certificate provided for in Section 307 hereof as to completion of can -
situation
of the Improvements, the Redevelopee may enter into any agreement to sell,
lease, o otherwise transfer, after the issuance of scab certificate, the property or
any part thereof or interest therein, which agreement shall not provide for payment
of or on account of the purchase price or rent for the Property, or the part thereof
or the interest therein to be so transferred, prior to the issuance of such certifi-
cate.
(b) The Agency shall be entitled to require, except as otherwise provided in
the Agreement, as conditions to any such approval cher,
-9-
(1) Any proposed transferee shall have the qualifications and financial
responsibility, as determined by the Agency, necessary and adequate
to fulfill the obligations undertaken in the Agreement by the Rede-
veloper (oxrn the event the transfer is of or relates to part of
the Property, such obligations to the extent that they relate to
such part).
(2) Any proposed transferee, by instrument is writing satisfactory to
the Agency and in form recordable among the land records, shall,
for itself and its successors and assigns, and expressly for the
ne fit of the Agency, have expressly assumed all of the obliga-
tions of the Redeveloper under the Agreement and agreed to be
subject to all the conditions and nestri=tions to which the Re-
developer is subject (or, in the event tie transfer is of or
relates to part of the Property, such obligations, conditions, and
astrictions to the extent that they relate to such part): Pro-
vided, that the fact that any transferee of, orany other sc
in interest whatsoever to the Property, or any part thereof, shall,
whatever the teases, not have assumed such obligations o agreed,
shall not (unless and only to the extent otherwise specifically
provided in the Agreement or agreed to in writing by the agency)
relieve or except such transferee arof or from such ob-
ligations conditions, o estrictions,cor deprive or limit the
Agency of or with respect to any rights or remedies o ontrols
with respect to the Property or the construction of the Improve-
ments; it being the intent of this, together with other provisions
of the Agreement, that (to the fullest extent permitted by law and
equity and excepting only in the wonder and to the extent specific-
ally provided otherwise in the Agreement) no transfer of or change
with respect to Ownership in the Property or any part thereof, o
any interest therein, however consonce,ted o occurring, and whether
r
voluntary or voluntary, shall operate, legally practically,
to deprive or limit the Agency of or with respect to any rights or
remedies or
controls provided in o resulting from the Agreement
with respecttoProperty and thee nstmctlion of the Improve-
wants
mpswants that the Agency would have had, had there been no such trans-
fer or change.
(3) There shall be submitted to the Agency for review all its trousers
and other legal documents involved i effecting transfer; nsfeand if
approved by the Agency, its approval shall be indicated to the
Redeveloper in writing.
(4) The consideration payable for the transfer by the transferee or on
its behalf shall not exceed an
amount representing the actual cost
(including carrying charges) totheRedeveloper of the Property (or
allocable to the part thereof or interest therein transferred) and
the Improvements, if any, theretofore made thereon by it; it being
the intent of this provision to preclude assignment of the Agreement
or trauefer of the Property (or any parts thereof other than those
referred to in subdlvisiom (2), Paragraph (a) of this Section 503)
for profit prior to the completion of the Improvements and to pro-
vide that in the event any such assignment or transfer is made (and
-lo-
is not curtsied) the Agency shall be entitled to increase the Put -
chase Price to the RedeveLoper by the meant that the consideration
payable for the assignment or transfer it in excess of the am nt
that may be authorized pursuant to this =subdivision (4), and o
such consideration shall, to the extent it is in ex of the amount
so authorised, belong to and forthwith be paid to the Agency.
(5). The Redeveloper and its transferee shall comply with such other
conditions as the Agency may find desirable in order to achieve
and safeguard the purposes of the Urban Renewal Act and the Urban
Marcel Plan.
provided that in the absence of specific written agreenent by the Agency to the con-
trary, no uch transfer or approval by the Agency thereof shall be deemed to relieve
the Redeveloper, or any other party bound in any way by the Agreement or otherwise
with respect to the construction of the Improvements, f_om any of its obligations
with respect thereto.
SEC. 504. Information as to stockholders. In order to assist in the effectu-
ation of the purposes Of this Article V and the statutory objective& generally, the
Redeveloper agrees that during the period between execution of the Agreement and com-
pletion
mpletion o£ the Improvements a certified by the Agency, (a) the Redeveloper will
promptly notify the Agency of any and all changes whatsoever in the ownership of
stock, legal or beneficial, or of any other act or transaction involving or resulting
in any change in the ownership of such stock orin the relative distribution thereof,
or with respect to the identity of the parties in control of the Redeveloper of the
degree thereof, of which it or any of its officers have been notified or otherwise
have knowledge or information; and (b) the Redeveloper shall, at such time or times
s the Agency my request, furnish the Agency with a complete statement, subscribed
and sworn to by the President or other executive officer of the Redeveloper, setting
forth all Of the stockholders of the Redeveloper and the extent of their respective
holdings, and In the event any other parties have a beneficial interest in such stack
their name
and the extent of such interest, all as determined or indicated by the
records of the Redeveloper, by specific inquiry made by any such office[, of all Par-
ties who on the basis of such records own 10 per cent ortrue of the stock in the
Redeveloper, and by such other knowledge Information as such officer shall have.
Such lists, data, and information shall in any event be furnished the Agency immedi-
ately prier to the delivery of the Deed to the Redeve Loper and as a condition pre-
cedent thereto, and annually thereafter o the anniversary of the date of the Deed
until the issuance ofa certificate of completion for oil the Property.
ARTICLE VI. MORTGAGE FINANCING: RIGHTS OF MORTGAGEES
SEC. 601. Limitation Upon Encumbrances of Property. Prior to the completion of
the Improvements, as
certified by the Agency, neither rhe Redeveloper nor any suc-
CaSSor in interest to the Property or any part thereof shall engage in any financing
or any other transaction creating any mortgage or other encumbrance or lien upon the
Property, whether by express agreement or operation of law, or suffer any encumbrance
r lien to be made on or attach to the Property, except for the purpose of obtaining
(a) funds only to the extent necessary for making the Improvements and (b) Both ad-
ditional funds, if any, in an amount not to exceed the Purchase Price paid by the Re-
developer to the Agency. The Redeveloper (or successor in interest) shall notify the
Agency in advance of any financing, secured by mortgage or Other similar lien instre-
bean, it proposes to enter into with respect to the Property, or any part thereof,
-11-
and in any event it shall promptly notify the Agency of any encumbrance or lien that
has been created on or attached to the Property, whether by voluntary act of the
Redeveloper o otherwise. For the purposes of such mortgage financing a may be
made pursuant Co the Agreement, the Property may, at the option of the Redeveloper
(or successor in interest), be divided intorai parts or parcels, provided that
snob subdivision, in the opinion of the Agency,isnot inconsistent with the purposes
of the Urban RenewaL Plan and the Agreement and is approved in writing by the Agency.
SEC. 602. Mortgagee Not Obligated Co Cons truer Noewithseanding any of the pro-
visions of the Agreement, Including but not limited to those which are or are inten-
ded to be c ants roaming with the land, the holder of any mortgage authorized by
the Agreement (including any such holder who obtains title to the Property or any
part thereof as a result of foreclosure proceedings, or action in lieu thereof, but
not including (e) any other party who thereafter obtains title Co the Property Or
such part from or through such holder or (b) any other purchaser at foreclosure Sale
Other than the holder of the mortgage itself) Shall in no wise be obligated by the
provisions
or
of the Agreement to construct o complete the improvements or to guarantee
such c construction o completion; n shall any covenant o any other provision in the
Used benconstrued to so obligate such holder; Provided, that nothing in this Section
or any other Section or provision of the Agre-mens shall be deemed or construed to
permit orauthorize any such holder to devote the Property o any part thereof to any
or to construct any improvements thereon, other thea those v z improvements
provided or permitted in the Urban Renewal Plan and in the Agreement o
SEC. 603. Copy of Notice of Default to Mortgagee. Whenever the Agency shall
deliver any notice or demand to the Redeveloper with respect Co any breach or default
by the Redeveloper in ICS obligations o e
ants under the Agre men C, she Agency
shall at the same time forward a copy of such notice or demand toeach holder of any
mortgage authorized by the Agreement at the last address of such holder shown on the
records of the Agency.
SEC. 604. Mortgagee's option to Cure Defaults. After any breach or default re-
ferred to 1n Section 603 hereof, each such holder shall (insofar as the rights of the
Agency a concerned) have the right, at Its option, to c remedy such breach o
are cancer urs to xe r
default (or red bleach or default to the extent that L: relates to CM1e part of the
Property covered by its mortgage) and to add the cher thereof o Co ftheav mortgage debt
andthe 1ionstr its n of the: Provided, that if the contained
o[ default i wf[M1 re-
spect c on of bion of Me Improvements, nothing to c ce iron in this Section o any
other before
of the Agreement shall be deemed to per authorize Such noisen-
either abefer after orforeclosure
completion
o action In lien thereof, to undertake o -
Cinue the construction o Improvements
or
the Improvements (beyond CM1e without
f necessary
to c expressly assumed he obligation
mania o gado, already vada) eiment satisfactory
Cehav-
ing heAgnc, assumed the obligahe m Coethe Agency, by the
agreement Improvements
to the Agency, to complete, n the manner which
l en the title
such
the Improvements
n CM1e h holder or the par[ [hereof cto omplete
the lien em title of inch holder roparty.
Any such holder who snailthereof
properly cantlele CM1e Umprowritten
request
relating
to to the Property
or applicable part certifications
ation be entitled, w it ten request mine t the Agency, t
certification o e Agreement, by the suchAgencycert such efface in she mn r provided
is h holder,
307 of the provide
and any such certification rights w shall, if a requested
ptur by
such holder, me and provide CMC any oremedies
Prop rights with Agency[ to l have
be o revesting of title he the Property CM1e[ the Agency shall have o
be entitled a[onbecause of failure of the Redeveloper or any successor in interest to
-12-
the Property, ore
any part thereof, to c remedy any default with respect to the
construction of the Improvements o other parts or parcels of the Property, or be-
cause any other default in or breach of the Agreement by the Redeveloper or such
shall not apply to the part or parcel of the Property to which such cer-
tification relates.
SRC. 605. Agency's option to Pay Mortgage Debt or Purchase Property. In any
where, subsequent to default of breach by the Redeveloper (orn in-
terest) under the Agreement, the holder of any mortgage n the Property orspart
thereof
(a) has, but does not exercise, the option to construct o complete the Im-
prwementa relation to the Property or part thereof covered by its rt -
gage r to which it has obtained title, and such fail mo
continues for
a period of sixty (60) days after the holder has been notified or in-
formed of the default or breech; or
(b) undertakes coca truction o completion of the Improvements but does not
omplete such construction within the period as agreed upon by the Agency
(which period shall in any event be at least as long as the period pre-
scribed fez such construction or completion in the Agreement), and such
default shall not have been cured within sixty (60) days after written
demand by the Agency so to do,
the Agency shall (and eery mortgage instrument made prior to completion of the Im-
prov ents with respect to the Property by the Redeveloper or
successor interest
shall so provide) have the option of paying to the holder the a of the mortgage
debt and securing anassignment of the mortgage and the debt s red thereby, in
the event Ownershipof the Property (or part thereof) has v ted in such holder by
way of foreclosure or action in lieu thereof, the Agency shall be entitled, at its
option, to a conveyance to it of the Property or part thereof ( as the case may be)
upon payment to such holder of a unt event to the say of: (i) the mortgage debt
at the time of foreclosure o action in lieu thereof (less all appropriate credits
including those resulting from collection and appllcatioa of rentals and other In-
come
n-
oreceived during foreclosure proceedings); (ii) all expenses with respect to the
foreclosure; , (iii) the net expense, if any (exclusiveof general overhead), incurred
by such holder in and a a directresult of the sobeequeat management of the Property;
(iv) the costs of any Improvements made by such holder; and (v) an amount equivalent
to the interest that would have
[ued on the aggregate of such amounts had all such
amounts become part of the mortgage debt and such debt bad continued in existence.
SBC. 606. Agency's option to Cure Mortgage Default. In the event of a default
Or breach print the completion of the Improvements r
s by the Redeveloper, any s
z in interest, in o of any of its obligations under and to the holder of spyc
mortgage r other instrument creating a encumbrance or lien upon the Property or part
thereof, the Agency may at its option cure
such default or breach, i s
which case the
Agency shall be entitled, in addition to and without Simi cation upon any otherrights
or remedies to which it shall be entitled by the Agreement, operation of law, Or
otherwise, to reimbursement from the Redeveloper or successor in interest of all
costs
and expensesun
Incurred by the Agency i curing such default or breach and to a
lienupon the Property (or the part thereof to which the mortgage, encumbrance, o
lien relates) for such reimbursement: Provided, that any such lien shall be subject
always to the lien of (including any Lren contemplated, zecause of advances yet to be
made, by) any then existing mortgages on the Property authorized by the Agreement.
SEC. 607. Mortgage and Holder. For the purposes of the Agreement: The term 'mort-
gage" shall include a deed of trust or other instrument creating a encumbrance or
lien upon the Property, or any part thereof, as security for a loan The team
"holder" in reference to a mortgage shall include any Insurer or guarantor of any
obligation or condition secured by such mortgage or deed of trust, including, but
not limited to, the Federal Housing Commissioner, the Administrator of Veterans Af-
fairs, and any successor in office of either such official.
ARTICLE VII. REMEDIES
SBC. 701. In General. Except as otherwise provided in the Agreement, in the
ant of any default in or breach of the Agreement, or any of its terms or conditions
by either party hereto, or any successor to such party, such party (or successor)
shall, upon written notice from the other, proceed immediately to cure or renedy
such default or breach, and, in any event, within sixty (60) days after receipt of
such notice. In such action is not taken o not diligently pursued, r the de-
fault or breach shall not be cured or remedied within a reasonable time, the aggrie-
ved party may institute such proceedings as may be necessary or desirable in its
opinion to cue and z medy such default or breach, including, but not limited to,
proceedings tomp
coel specific performance by the party in default or breach of its
obligations.
SEC. 702. Termination by Redeveloper Prior to Conveyance. In the event that
(a) the Agency does not tender conveyance of the Property or possession thereof
in the manner and condition and by the date provided in the Agreement, and
any such failure shall not be cured within thirty (30) days after the date
of written demand by the Redeveloper; or
(b) the Redeveloper shall, after preparation of Construction Plans satisfactory
to the Agency, furnish evidence satisfactory to the Agency that is has
been unable after and despite diligent effort for a period of sixty (60)
days after approval by the Agency of the Construction Plans, to obtain
mortgage financing for the c nstructioa of the improvementsa basis
and an terms that would generally be considered satisfactory by builder
at me
contractors for imrovents of the nature and type provided in such
Construction Plans, and the Redeveloper shall, after having submitted such
evidence and if so requested by the Ayenty, continue to make diligent ef-
forts to obtain such financing for a period or sixty (60) days after such
request, but without success,
then the Agreement shall, at the option of the Redeveloper, be terminated by written
notice thereof to the Agency, and, except with respect to the return of the Deposit
as provided in Paragraph (e), Sectio 3 of Part I hereof, neither the Agency nor
the Redeveloper shall have any further rights against or liability to the other
under the Agreement.
SEC. 703. Termination by Agency Prior to Conveyance. In the event that
(a) prior to conveyance of the Property to the Redeveloper and in violation
of the Agreement
(i) the Redeveloper (or any successor in interest) assignsraccounts
to assign the Agreement or any rights therein, or in the Property, or
-14-
(ii) there is any change in the Ownership or distribution of the stack
in the
toRedeveloper ofthe Redeveloper Or
respect thevdtheegree thereof fo entity be parties
con
(b) the Redeveloper tivea not submit conaauctfee Plans, as required by the
division (b) of Section 702
Agreement, ^r (except as excused under sub
hereof) evidence that it has the necessary capital
mortgage
financing, in satisfactory form, aman a^ the mortgre-
spectively provided in the Agreement therefor{ Or
(c) the Redeveloper does not pay the Pure Purchase
price and Laketitleto toAtheemenL,
Property upon tender of conveyance Y Agency pursuant
and if any default Or failure referred Co in subdivisions (b) and (c) Of
this Section 703 stall not be cured within thirty (30) days after the
date of written demand by the Agency, es ignee o[ transferee,
then the Agreement, and any tights Of the Redeveloper, or annyyeasy or e O property,ansfer
in the Agreement. Or arising therefrom with respect to the shall, at the option Of the Agency, be terminated by the Agency, in which event, as
provided in Paragraph (d), Section 3 of Part I hereof, the Deposit shall be retained
by the Agency as liquidated damages and as its property without any deduction,
Off-
set of recoupmeat whatsoever, and neither the Redeveloper (or assignee Or transferee)
or the Agency shall have any further rights against Or liability Co the other under
the Agreement.
SRC. 704. Reveafi Title in A em upon Ra solo of Event Subsequent to Coo -
e to RedeVelov In the event that aubsequO,, completion [M1eflmpro raw Opn[a
any part t ten f to the Redeveloper and prior to c p ems
as certified by the Agency
(e)
the Redeveloper (or successor in interest) shall default in violate its
Obligations with respect to the construct ion Of the Impeovemen[e (includin.
the nature and the dates for the beginning and completion thereof),
Or de -
shall abandon or substantially suspend construction work, an saended, o
fault, violation, abandonment or euapeneiamon shall
if be cured, the default is with
remedied within three (3) months (six (6) m ta) after written do -
seances to the date for completion of the �provemen
mend by the Agency Be to do; or
(b) the Redeveloper (Or successor in interest) shall fail to Pay real estate
taxes o n the [
Property o any Part thereof when due, On
shall places thereon any encumbrance Orlien unauthorized by the Agreementor ;
y Or attachment to be made o any materialnen's o
shall ,alien any any or other unauthorized encumbrance o lien to attach,
andb such taxes ao see omenta shall not havebeenpaid or heencumbrance
r lien removed oradfacuarged or provision satisfactory to the Agenywr�i[k
for such payment, removal or discharge within niraty (90) days after
ten demand by the Agency so to do{ or
(c) there ia, in violation 0£ the Agreement, any L[sn9fe[ Of the Property Or
any part thereof, or any change in the ownership Or distribution of the
stock Of the Redeveloper, or with respect to LM1e identity of the parties
control of the Redeveloper Or the degree thereof, and such violation shal
not be cured within sixty (60) days after written demand by the Agency to
the Redeveloper,
-15-
then the Agency shall have the right to re-enter and take possession of the Property
and to terminate (and raster in the Agency) the estate conveyed by the Used to the
Redeveloper, it being the intent of this provision, together with other provisions
of the Agreement, that the conveyance of the Property to the Redeveloper shall be
made upon, and that the Deed shall contain, a condition Subsequent to the effect
that In the event of any default, failure, violation or other action or naction by
the Redeveloper specified in subdivisions (a), (b) and is) of thin Section 704, fail-
ure the part of the Redeve Loper to remedy, end or abrogate Such default, failure,
violation or other action or inaction, within the period and in the nanner
stated in
such subdivisions, the Agency at its option may declare a termination infavor of the
Agency of the title, and of all the rights and interests In and to the Property con-
veyed
-
veyed by the Used to the Redeveloper, and that Such tit -e and all rights and inter-
ests of the Redeveloper, and any assigns a n Interest to and in the
Property, shall revert to the Agency: Provided, e that such condition subsequent and
any revesting of title as a result thereof In the Agents
(1) Shall always be subject to and limited by, and shall not defeat, render
valid, or limit in any way, (L) the lien of any mortgage authorized by
the Agreement, and (11) any rights or interests provided in the Agreement
for the protection of the holders of such mortgages; and
(2) shall act apply to individual parts or parcels of the Property (or, in the
case of parte or parcels leased, the leasehold interest) on which the im-
provemente to be constructed thereon have been completed In accordance
with the Agreement and for which aertificate of completion is issued
therefor as provided in Section 307 hereof.
SRC. 705. Resale of Reacquired Property; Disposition of Proceeds. Upon the re-
vesting in the Agency of title to the Property or any part thereof as provided in
Section 704, the Agency shall, pursuant to its responsibilities under State law, use
its beet efforts to resell the Property or part thereof (subject to such mortgage
Ideas and leasehold int s In Section 704 set forth and provided) a and
in such ma as the Agency shall find feasible and consistent with the objectives
of Such law and of the Urban Renewal Plan to a qualifie3 and responsible party or
parties (as determined by the Agency) who will assume Cme obligation of making o
completing the Improvements or such other Improvements in their stand a shall be
Satisfactory to the Agency aMekFs 3fr: PrdaR€ee wit Ci ones Specified for such Pro-
perty or part thereof in [he l on s4ch resale of the Property,
the proceeds thereof shall be applied:
(a) First, to reimburse the Agency 00 its mm behalf or on the behalf of the
City for all costa and expenses incurred by the Agency, including but not
limited to salaries of pert travel in connection with the recapture, ma
agement and resale of the Property or part thereof (but leas any income
derived by the Agency from the Property or part thereof In o[tion with
such management); all taxes, a and enter and s charges with
respect to the Property or part thereof (or in the even[ the Property is
exempt frt tion ent o uch charges during the period of
ownership ttaxa
by the Agency, an amount, if paid, equal to such taxes,
assessments or charges (as determined by the City assessing official) a
would have e
been payable if the Property were not so exempt); any payments
axisraccessary nx
to be made to discharge any encumbrances or Liens exist-
ing ontheProperty or part thereof at the timeof revesting of title
-16-
thereto In the Agency or to discharge or prevent from attaching or being
made any subsequent encumbrances or liens due to obligations, defaults o
acts of the Redeveloper, its successors r transferees; any expenditures
made o obligations incurred with respect to the making or completion of
the Improvements or any part thereof on the Property or part thereof: and
any amounts otherwise owing the Agency by the Redeveloper and its succes-
sors or transferees; and
(b) Second, to reimburse the Redeveloper, its successor r transferee, up to
theamount equal to (1) the a of the purchaseprice a paid by it for the
Property (or allocable to the part thereof) and the cash actually Invested
by it in making any of the Improvements an the Property or part thereof,
Leas (2) any gains or income withdraw or made by it from the Agreement
or the Property.
Any balance remaining after such reimbruaemnt6 shall be retained by the Agency as
its property. e
SRC. 706. Other Rights and Remedied of Ageroy, No Waiver by Delay. The Agency
Shall have the right to institute such actions or proceedings as it may deem desir-
able for effectuating the purposes of this Article VII, including also the tight to
execute and record or file among the public land records in the office In which the
Deed is
recorded a written declaration of the termination of all the right, title and
interest of the Redeveloper, and (except for such Individual parte or parcels upon
which construction of that part of the Improvements required to be constructed there-
on has been completed. in accordance with the Agreement, and for which a certificate
of completion as provided in Section 307 hereof is to be delivered, and subject to
such mortgage liens and leasehoLd interests as provided in Section 704 hereof) its
successors in interest and assigns, n the Property, and the revesting of title
thereto in the Agency: Provided, that any delay by the Agency in instituting or pro-
secuting any such actions or proceedings or otherwise asserting its Tights under this
Article VII shall not operate as a waiver of such rights or to deprive it of or limit
such rights in any way (it being the intent of this provision that the Agency should
not be constrained (so as to avoid the risk of being deprived of or limited in the
exercise of the remedy provided in this Section because of concepts of waiver, laches
or Otherwise) to exercise such remedy at a time when it may still hope otherwise t
solve the problems created by the default involved);nor
shall any waiver in fact
made by the Agency with respect to any specific default by the Redeveloper under
this Section be considered o ted a rof the rights of the Agency with
respect to any other defaults by the Redeveloperunder this Section or with respect
to the particular default except to the extent specifically waived in writing.
SPC. IOI. Enforced Delay in Performance for Causes Beyond Control of Party.
Fox the purposes of any of the provisions of the Agreement, neither the Agency no
the Redeveloper,
as the case may be, n a
any a in
interest, shall be -
sidered in breach of or default in its obligations with respect to the preparation of
the Property for redevelopment r the beginning and completion of construction of the
Improvements or progress respect thereto, in the event of enforced delay in the
performance of such obligations due to unforeseeable causes beyond its control and
without its fault at
negligence, including, but not restricted to, acts of Cod, acts
of the public enemy, acts of the Federal Government, acts of the other party, fires,
floods, epidemics, quarantine restrictions, strikes, freight embargoes and unusually
-1>-
severe Bather or delays of subcontractors due to such c it being the purpose
and intent of this provision that in the event of the occurrence of any such enforced
delay, the time or times for performance of the obligations ofthe agency with re-
spect
spect to the preparation of the Property for redevelopment o of the Radeveloperwith
aspect to construction of the Improvements, as the case any be, shall be extended
for the period of the enforced delay as determined by the Agency: Provided, that the
party seeking the benefit of the provisions of this Section shall, within ten (10)
days after the beginning of any such enforced delay, have first notified the other
patty thereof i writing, and of the c Ass -
senator, for
thereof, and requested anAss-
senator,for the period of the enforced adelay. c
SCC. 708. Rights and Remedies Cumulative. ITe rights and reasoning of the par-
ties to the Agreement, whether provided by law or by the Agreement, shall be c
lative, and the exercise by either party of any on of such remedies shall
not preclude the exercise by it, at the 9 r di£fereat times, of any other such
a
remedies for the same default or breach or of any of its remedies for any other de-
fault or breach by the other party. No waiver made by either such party with respect
to the performance, or banner
r
r time thereof, o any obligac of the other party
or any condition to its nw obligation under the Agreement shall be considered a
waiver of any rights of the party making the waiver with respect to the particular
obligation of the other party Or onditio, to its own obligation beyond those expre
sly waived in writing and to the extent thereof, o r in any respect i re-
gard to any other rights of the party making the waiver or any other obligati ons of
the other party.
SRC. 709. Party In Position of Surety With Respect to Obligations. The Rede-
veloper, for itself and its successors
and assigns and for ail other per who
are or who shall became, whether by express or implied assumption or otherwise,
liable upon or subject to any obligation or burden orders the Agreement, hereby
to the fullest extent permitted by law and equity, any and all claims or
defenses otherwise
or whether by agreement ooperation of law, including, without
limitation n the generality of the foregoing, any and all claims and defenses based
upon extension of time, indulgence or modification of terms of contract.
ARTICLE VIII. MISCSLLANRo05
SEC. 801. Conflict of Interests; Agency Representatives Not Individually
Liable. No member, official oremployee of the Agency shell have any personal in-
terest, direct o indirect, in the Agreement, nor
shall any such member, official or
employee participate in any decision [elating t the Agreement which affect$ bis
personal interests or the interests of any corporation, partnership or
$iation in
which he in, directly or indirectly, interested. No member, official oremployee of
the Agency shall be personally liable to the Redeveloper, or any
vsuccessor in inter-
est, in the a of any default or breach by the Agency orfor ana which may
became due to the Redeveloper or successor o[ on any obligations under the terms of
the Agreement.
SEC. 802. Equal Employment opportunity. The Redeveloper, for itself and its
successors and assigns, agrees that during the construction of the Improvements pro-
vided forin the Agreement:
Q.l:➢
(a) The Redeveloper will not discriminate against any employee or applicant for
employment because of face, color, religion, sex, or national origin. The Re-
developer will take affirmative action to e that applicants ate employed
and that employees are treated during employment without regard to their race,
color, sex, national origin. Such action shall include but not
be limited to thefoll0wing: employment, upgrading, demotion or transfer;
recruitment or uitment advertising; Layoff or termination: rates of pay o
other forms of compensation; and selection for training, including apprenticeship.
The Redeveloper agrees to poet in conspicuous places available to employees and
applicants for employment notices to be provided by the Agency getting forth
the provisions of this nondiscrimination clause.
(b) The Redeveloper will, in all solicitations or advertisements for employees place3
by or on behalf of the Redeveloper, state that all qualified applicants will
receive consideration for employment without regard t0 race, color, religion,
sex, or national origin.
(c) The Redeveloper will send to each labor union representative of workers
with which the Redeveloper has a collective bargaining agreement or other
contract o understanding, a notice, to be provided, advising the labor cache
or workers' representative of the Redeveloper's commitments under Section 202
of Executive Order 11246 of September 24, 1965, as amended n by Executive Order
11735 of October 13, 1969, and shall post copies of the notice in conspicuous
places available to employees and applicants for employment.
(d) The Redeveloper will comply with all provisions of Executive Order 11246 of
September 24, 1965 as amended by Executive Order L1735 of do cober 13, 1967, and
of the rules, regulations and relevant orders of the Secretary of Labor.
(e) The Redeveloper will furnish all information and reports required by Executive
Order 11246 of September 24, 1965 and as amended by Executive Order 11735 of
October 13, 1967, and by the rules, regulations and orders of the Secretary of
Labor or the Secretary of Housing and Urban Development, pursuant thereto, and will
permit access to the Redeveloper's books, records, and accounts by the Agency,
the Secretary of Housing and Urban Development, and the Secretary of Labor for
Purposesof investigation to ascertain compliance with such rules, regulations
and orers.
(f) In the event of the Redeveloper's noncompliance with the nondiscrimination clauses
of this Section, or with any of the said rules, regulations or Orders, the
Agre meat may be c celed, terminated o suspended i whale o n part and
the Redeveloper may be declared ineligible for further Government contracts or
federally assisted construction contracts in accordance with procedures
authorized in Executive Order 11246 of September 24, 1965, as amended by
Executive Order 11735 of October 13, 1967, and such other sanctions may be
imposed and remedies invoked as provided in Executive Order 11246 of September 24,
1965 as amended in Executive Order 11735 of October 13, 1967, or by rules,
regulation or order of the Secretary of Labor, or as otherwise provided by law.
(g) The Redeveloper will include the provisions of Paragraphs (a) through (g)
of this Section in every contract or purchase order, and will require the
inclusion of these provisions in every subcontract entered into by any of its
contractors, unlet r
excepted by rules regulations o orders of the Secretary
of Labor issued pursuant to Section 204 of Executive Order 11246 of September
24, 1965 a mended by Executive Order 11735 of Or cober 13, 1967, so that such
w r
prwill be binding upon each much contractor, subcontractor o endor,
s thee may be. The Redeveloper will take such action with respect to any
construction contract, subcontract or purchase order an the Agency or the
Department of Housing and
-19-
Urban Development may direct as
a means of enforcing such provisions, in-
cluding sanctions for n ncompliane; Provided, however, that in the event
the Redeveloper becomes involved in, r is threatened with, litigation
with a subcontractor or vendor as sult of such direction by the Agency
r the Department of Housing and Urban Development, the Redeveloper any
request the United States to enter into such litigation to protect the in-
terests of the United States. For the purpose of including such provisions
In any construction contract, subcontract, or purchase order, as required
hereby, the first three lines of this Section shall be changed to read
"Wring the performance of this Contract, the Contractor agrees as fol-
lows:", and the term Unedevelopei' shall be changed to "Contractor."
SDC. 803. Provisions Not Merged With Deed. None of the provisions of the
Agreement are intended to or shall be merged by reason of any deed transferring
title to the Property from the Agency to the Redeveloper or any successor in interest
and any such deed shall not be deemed to affect or impar the provisions and cove
rents of the Agreement.
SSC. 804. Titles of Articles and Sections. Any titles of the several parts,
Articles and Sections of the Agreement are Inserted for convenience of reference only
and shall be disregarded in construing or interpreting any of its provisions.
-20-
CONNTERFARTS
The Agreement in executed in three (J) counterparts, each of which shall con-
stitute one and the same instrument.
IN WITNESS WHEREAT, the Agency has cussed the Agreement to be duly executed in
its name and behalf by its
and Its seal to be hereunto duly affixed and attested by its
and the Redeveloper has caused the Agreement to be duly executed in its name and
behalf by its President and its corporate seal to be hereunto duly affixed by its
a of the day first above written
VI eMSl dcn}
CRRAN RENEWAL AUTHORITY OF THE CITY OF BANGOR
Attest
(Secretary)
gym...IQa.,,
(.H./edevel per)
By /✓^I. �aM.1
(P[esid en[)
Attest:
221 rm r.x
Approved:
In City Council
Bate:
Council Order No.:
SCHEDOLE A
Description of Property
All that certain parcel or parcels of land located in the City of Bangor. County
of Penobscot, State of Mine, mass particularly described as follows:
See Attached
SCBEDNE A
Beginning at a point in the southerly line of land conveyed to the
Bangor Urban Renewal Authority by Emerson Realty Company by deed dated
April 20, 1966, recorded in the Penobscot Registry of Deeds in Vol.
2046, page 124; the said point of beginning being ninety-three (93) feet,
more or less westerly of the west line of Exchange Street, twenty-nine
(29) feet, more or lees, northerly of the northerly line at York Street
and seventeen (17) feet, more or lees, westerly of the northeast corner,
on the extended north line of the existing brick building now or formerly
owned by the Bangor. Savings Bank; thence westerly along the northerly line
of land now or formerly Owned by the Bangor Savings Bank, seventy+seven ;>))
feet, more or lees to the east line Of the Renduskeag Parking Plaza, so called;
thence northerly along the said east line of the Renduekeag Parking Plaza,
one hundred (100) feet more or leas to the southwest corner of other lend cow or
formerly arced by the said Bangor Savings Eads and being the northwest corner
of a right-of-way conveyed to the Bangor Reviews Bank by Samuel star" sad
Ezra L. Sterne by deed dated duly 2yI, 1905, re corded ��in the Penobscot 40
Registry of Deeds, Vol. y>:$ARake
Tzk A,,USEii9 tiers 09 t{NP 6 Sky 0eBhWbK SArIK. SANK
line of said tight-of-wayJ a distance of one hundred and one (101) feet more
or leas to the northeast corner of said right-of-way; thence southerly along
the most easterly line of said eight -of -may, a distance of five (5) feet,
more or less to the moat southeasterly corner of said tight -of -way: therce
southerly fifteen (15) feet, more or less, to a point eighty (80) feet earn
or lees westerly of the west line of Exchange Street and twenty-two (22)
feet westerly of the northwest corner of the extended north line of the existing
building now owned by the grantor herein; thence southerly along a line twent.-
two (22) feet westerly of and parallel to the west line of the building n coned
by the said greater, a distance of forty (40) feet, to a point; thence southerly
forth two (42),feet, more or less to the point of beginning.
SCHEDULE E
RIGHT OF WAY
BUM to Bangor, Saviags Bank
Beginning at a point in the southerly line of land ccnveyed to the Banger
Urban Renewal Authority by Emerson Realty Company by deed dated April 20, 1956,
and recorded in the Penobscot Registry of Deeds in Vol. 2046, page 124; the
said paint of begI being being seventy -a ix (76) feet, more or less, westerly or
the west tine of Exchange Street, twenty-nine (29) feet, ¢ore or leas, northarly
of the north Line a- York Street and in the northerly line of land now or formerly
owned by the Bangor Savings Bank at the northwest corner of brick building -ow
standing; thence westerly along the said northerly line of said Bangor
Savings Bank land seventeen (17) feet, more or less, to the southeast corner
of a parcel of land hemsa conveyed to said Bangor Savings Bank; thence northerly
along the easterly -ones t0 the northeast Corner of tie Said parcel
herein conveyed to the said Bangor Savings Bank; thence easterly along the
northerly line of land as aforesaid conveyed to the Bangor Urban Renewal
Authority by Emerson Realty Company, thirteen (13) feet, m or leas, to in -
wrest line of land now or formerly caned by A. L. Kiratein more
Freese, at al;
thence southerly twenty (20) feet, more or leas, to a point on a north line
of the land as aforesaid conveyed to Bangor Lrban Renewal Authority by Users=
Realty Company extended westerly and tan (10) feet from tie northwest Corner
of the Building new owned by Bangor Urban Rereval Authority; thence southerly
and parallel to the west face of said building now owned IF Bangor Urban
Renewal Authority forty (40) feet, more or leas, to an Basle point( thence
Southerly forty -One (41) feet, more or less, t0 the point of beginning.
SCHEDULE C
RIGHT DE WAY
Bangor Savings Bank to BUM
Beginning sc a point in the southerly -rno of land conveyed to the
Bangor Urban Mammal fwthority by Bantam Realty Company by deed dated Apr -1
20, 1966, and recorded in the Penobscot Rag -sexy of Deeds in Vol. 2046, page
124; the said polar of beginning being seventy-six (76) feet, more or less,
weater:y of the west line of Exchange Strom, twenty-nine (2T feet,
more or less, northerly of the north line o`_ York Street and to the aor_he-ly
line o5 land now or formerly owned by the Bangor Savings Bank at the ntvrhvest
corner of brick building new standing; thence southerly, along the west fare
of said brick building twenty-nine (29) fee_, more or less, to the north
line of York Street; thence westerly along :he said north lite of York 3traet
twenty-five (25) feet to a point' thence oo�therly thirty one (31) feet, more
or lees, to the north line of said Bangor Savings Bank Land; thence saE_erty
seventeen (17) feet, more or less, to the point of beginning.