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HomeMy WebLinkAbout1969-07-28 242-W ORDER242-w Introduced by Councilor Nealley, ,luly 28, 1969 1 i CITY OF BANGOR (TITLE.) t81rbtrf..... Approving Proposed ConTract for.. Sale of Land. in the Stillwater Park Urban Renewal Project Parcel No 102 BY Ws CUP CoaneY of UPS City of Bangor: ORDERED. THAT WHEREAS, the Urban Renewal Authority of the City of Rapper proposes to enter Into a contract for the sale of parcel numbered 102 In the Stillwater Park Urban Renewal Project with T. William Quinn and WHEREAS, the said J. William onion has offered to Pay the am of Two Tltonsared---------- and QQ/loo Dollars for said parcel said price being the minimum approved price for said }ureal as established by the Urban Renewal Authority and approved by the Department of Housing and Urban Development; and WHEREAS under the provlafons of chapter 168 of the Private sed Special Laws of Heine, 1957, as sounded, City Council approval of all contracts for the sale of lend within the project area is required{ and WHEREAS, the Urban Renewal Authority has filed a copy of the proposed contract with J. William Quinn in the office of the City Clerk{ NOW, TEEREPURE, BE IT ORDERED: THAT the proposed contract on file with the City Clerk be And is hereby approved. :--CF.VED ,..i 563 JUL £4 PH 4:19 C CL_-!. .'S OFFICE IN CITY COUNCIL July 28, 1969 PASSM 242-W ORDER Tine, Sale of Land in Stillwater Palk M ...................................... Prosect - Pe .O j82 NO. 102 .................... Introduce end Mea by owcilmw 'bZ Revised April L6, 1968 CONTRACT FOR SALb OF LAND (OFFER AND ACCEPTANCE) STILLWATER PAID( PROSECT PROSECT NO. ME. E-4 Date July 3, 1969 TO: Urban Renewal Authority of the City of Bangor ("Seller") City Ball Bangor, Maine OFFER: 1. w:n:am rn.i nn herein called "Buyer, offers to buy, subject to the terms set forth herein, the following described land: Lot numbered 102 as shown on Plan of Land entitled "Stillwater Park Project, Bangor, Penobscot County, Maine, Urban Renewal Authority of the City of Baagoni Project Me. R-4" resisting of nine (9) pages and recorded in Penobscot Registry of Deeds in Plan Book 24 , pages1 to 9 , inclusive. 2. Buyer will pay Two Thousand ------------- and 00/100 Dollars ($ 2,000.) for said land In cash within one hundred and twenty (120) days after the acceptance of this offer by Seller. The Authority may grant additional time upon written request from the Buyer. 3. Conveyance of said land shall be made by Warranty Deed, subject to all easements of record, the Declaration of Restrictions for Stillwater Park Project, Bangor, Maim, R-4, which was recorded in VoLme 2113, page 385 of Penobscot Registry of Deeds, and to those conditions set forth hereinafter to which Buyer expressly agrees. (a) (1) The Buyer herein covenants by and for himself, his heirs, executors, administrators and assigns and all persons claiming under or through them, that Buyer and such heirs, executors, administrators and assigns and all persons claiming under or through them shall: (1) Devote the Property to and only to and in accordance with the uses specified in the Declaration of Restrictions and as it nay be here- after amended from time to time; covenants shall be in force and effect, without regard to whether Seller and City of Bangor 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 covenants relate. Seller and/or City of Bangor shall have the right, in the event of any breach of any such agreement or covenant, to exercise all the rights and remedies and to maintain any actions at Law or suits in equity or other proper proceedings to enforce the curing of such breach of agreement cc covenant, to which it or any other beneficiaries of such agreement or covenant may be entitled, (b) To construct one (and not more than one) Standard dwelling house (single family) upon the land which will meet the minimum requirements as set by City of Bangor ordinances and the Declaration of Restrictions. Construction most Start within six (6) months of the date the Deed is recorded in the Buyer's name, and completion moat be accomplished within twelve (12) months of date of commenting construction. Plane for said dwelling house will be subject to re- view by Seller prior to conveyance of the land, Within ninety (90) days of the date of the acceptance of the offer by Seller, Buyer agrees t0 submit construc- tion plane for approval by Seller, and evidence satisfactory to the Seller of Buyer's ability to finance the construction of the proposed Improvements. (c) (1) In the event that prior to completion of the Improvements as certified by Seller; (1) Buyer (ac successor in interest) shall default in or violate his obligations with respect to the construction of the Improvements (including the nature and the dates for the beginning and completion thereof), or shall abandon or substantially suspend construction work, and any such default or violation, Abandonment or suspension shall not be cured, ended or remedied within three (3) months (six (6) months if the default Is with respect to the date for completion of the Improvements) after written demand by the Seller so to do or (2) There is, In violation of this Agreement, any transfer of the Property or any change in ownership of the Property, and such violation Shall not be cured within thirty (30) days after written demand by the Seller to Buyer( then Seller shall have the right to re-enter and take possession of the Property and to terminate (and revert to the Seller) the estate conveyed by the -3- Warranty Deed to the Buyer, it being the intent that the conveyance of the Proper- ty to the Buyer shell be made upon a condition subsequent to the effect that in the event of any default, failure, violation or other action or inaction by the Buyer specified in clauses (1) and (2) of this subsection (f), feature on the part of the Buyer to remedy, end or abrogate such default, failure, violation or other action or inaction within the period and in the manner stated in said clauses, Seller at its option may declare a termination in favor of the Seller of the title, and of all the rights and interest in the Property conveyed by the Warranty Deed to the Buyer and that such title and all rights and interest of the Buyer and any assigns or successors in interest in the Property shall revert to the Seller: Provided, that such condition subsequent and any revesting of title as a result thereof in Seller shall always be subject to and limited by, and shall not defeat, render invalid or limit In any way (1) tte lien of any mortgage authorized by this Agreement and executed for the sole purpose of obtaining funds to construct the Improvements, and (2) any rights or interest provided in this Agreement for the protection of the holders of such v rtgagee. (ii) Seller shall have the right to institute such actions or proceedings as it may deem desirable for effectuating the purposes of this section (c), including also the right to execute and record or file with the Penobscot Registry of Deeds, a written declaration of the termination of all rights and title of Buyer andhis successors in interest and assigns In the Property, and the revesting of title thereto in the Seller; Provided, that any delay by the Seller in instituting or prosecuting any such actions or proceedings or otherwise assert- ing its rights under this section 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 pro- vision that Seller should not be constrained so as to avoid the risk of being de- prived of or Limited in the exercise of the remedy provided in this section (c) because of concepts of waiver, lather or otherwise) to exercise such remedy at a time when it may still hope otherwise to resolve the problems created by the de- fault involved, nor shall any waiver in fact made by Seller with respect to any specific default by Buyer under this section (c) be considered or treated as a waiver Of the rights of Seller with respect to any other defaults by Buyer under this rection or with respect to the particular default except to the extent ape- cificalty waived. --a- (d) The Buyer represents and agrees that his purchase of the Property and his other undertakings pursuant to this Agreement are and will be used for the purpose of redevelopment of the Property and not for speculation in land holding. The Buyer further recognizes that the qualifications and identity of the Buyer are of particular concern to the community and the Seller. The Buyer further recognizes that it is because of such qualifications and identity that the Seller is entering into this Agreement with the Buyer, and in so doing is further willing to accept and rely on the obligation of the Buyer for the faithful performance of all undertakings and covenants hereby by him to be performed without requiring in addition any surety bond or similar undertaking. For the foregoing reasons, the Buyer represents and agrees for himself and any successor in interest that except only by way of security for and only for the purpose of obtaining financing necessary to enable the Buyer or successor in interest to perform his obligations with respect to making the Improvements under this Agreement, the Buyer (except as so authorized) has not made or created and that he will not, Prior to the pro- per completion of the Improvements as certified by the Seller, make or create or suffer to be made or created any total or partial sale, assignment, conveyance or lease or any trust or power or transfer in any other mode or farm of or with aspect to this Agreement or the Property or any intarest therein or any contract or agreement to do any of the same without prior written approval of the Seller. The Seller shall be entitled to require as conditions to any such approval that (i) Any proposed transferee sha1L have the qualifications and financial responsibility, as determined by the Seller, necessary and adequate to fulfill the obligations undertaken in this Agreement by the Buyer, (ii) There has been submitted to the Seller for review, and the Seller has approved, all instruments and other legal documents involved in effec- ting transfer; (iii) The consideration payable for the transfer by the transferee or on his behalf shall not exceed an amount representing the actual cost (inclu- ding carrying charges) to the Buyer of the Property and the Improvements, if any, theretofore made thereon by him; it being the intent of this provision to pre- clade assignment of this Agreement or transfer of the Property for profit prior to the completion of the Improvements and to provide that in the event any such assignment or transfer is made (and 1s not cancelled), the Seller shall be entitled to increase the purchase price to the Buyer of the Property provided in Section 2 -5- Of this Agreement by the amount that the consideration payable for the assignment or transfer is In excess of the amount authorized in this paragraph, and such consideration shall, to the extent it is in excess of the amount so authorised, belong and be paid to the Seiler. (iv) The Buyer and hie transferee shall comply with such other conditions as the Seller may find desirable in Order to achieve and safeguard the purposes of Chapter 168 of the Private and Special Laws of Malay, 1957, as amended, and the Declaration of Restrictions as it may be amended, and the Federal Housing Act of 1949, as amended; Provided, that in the absence of spe- cific written agreement by the Seller to the contrary, n0 such transfer or ap- proval by the Seller thereof shall be deemed to relieve the Buyer or any other party bound in any way by this Agreement or otherwise with respect to the con situation of the Improvements from any of his obligations with respect thereto. (e) None of the provisions of this Agreement are intended to or shall be merged by reason of any Deed transferring title to the property from the Seller to the Buyer or any successor in interest, and any such Deed shall not be deemed to affect or impair the provisions and covenants of this Agreement. (f) For the purposes of any of the provisions of this Agreement, neither the Seller nor the Buyer, as the case may be, nor any successor in inter- est, small be considered In breach of or default in its obligations with respect to the preparation of the Property for redevelopment, or the beginning and com- pletion of construction of the Improvements, or progress with respect thereto, in the event of daisy in the performance of such obligations due to unforeseeable causes beyond his control and without his fault or negligence, including, but not restricted to, acts of CW or of the public enemy, aats of the Government, ate of the other party, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes and unusually severe weather or delays of subcontractors due to such causes; it being the purpose and intent of this provision that in the event of the occurrence of any such delay, the time or times for performance of the obligations of the Seller with respect to the preparation of the Property for redevelopment or of the Buyer with respect to construction of the Improvements, as the case may be, shall be extended for the period of the delay; Provided, that the party seeking the benefit of the provisions of this section shall, within sixty (60) days after the beginning of any such delay have first notified the other party thereof in voting, and of the cause or causes thereof and requested an extension for the period of the delay. (g) Prior to the completion of the Improvements by the Buyer, neither the Buyer act any successor in interest to the Property shall engage in any fleet- ing or any Other transaction creating any mortgage or Other encumbrance or lien upon the Property, whether by expressagreement or operation of law, or suffer any encumbrance or lien to be made on or attach to the Property, except, am only to the extent necessary, for the purpose of obtaining funds for making the Improve meats. It is further agreed that the Buyer (or successor in interest) shall notify the Seller in advance of any mortgage financing he proposes to enter into with respect to the Property and in any event that he shall promptly notify the Beller of any encumbrance or lien that has been created on or attached t0 the Property, whether by voluntary act Of the Buyer or otherwise. (h) Notwithstanding any of the provisions of this Agreement, including but not limited t0 those representing Covenants running with the land, the holder of any obligation authorized by this Agreement (including any such holder who ob- tains title to the property as a result of foreclosure proceedings or action to lieu thereof, but not including (1) day other party who thereafter obtains title to the property from or through such holder or (2) any Other purchaser at fore- closure sale other than the holder of the obligation itself) shall in no wise be obligated by the provisions of this Agreement to construct Or complete the Improve- ments or to guarantee such construction orcompletion; nor shall any covenant or any other provision in the Need be construed to ea obligate such holder: Provided, that nothing in this section or any other section or provision Of this Agreement shall be deemed Or Construed to permit or authorize any such holder to devote the property or any part thereof to any uses, or to construct any improvements thereon, other than those uses or improvements provided or authorized in the Declaration of Restrictions, ordinances of the City Of Bangor, and -his Agreement. 4. No member, official or employee Of the Seller shall have any personal Interest, direct or indirect, in this Agreement, nor shall any such member, of- ficial or employee participate in any decision relating to this Agreement which affects his personal interests or the interests Of say corporation, partnership or association in which he is, directly or indirectly, interested. No member, official or employee of the Seller shall be personally liable t0 the Buyer or any -7- successor in interest In the event of any default or breach by the Seller of for any amount which my become due to the Buyer or successor or on any obligations under the terms of this Agreement. 5. Taxes and special assessments, if any, due on or before the closing date shalt be paid by Seller. 6. Buyer herewith tenders One Hundred -------- and 00/100oilars ($ 100.00 ) which sum is at least five percent (58) of the offered purchase price as earnest money to become a part of the payment of the purchase price of the land upon acceptance of this offer by Seller. This sum shall be held by Seller and if this offer is not accepted, it shall be returned to Buyer, without interest. It shall be retained by the Seller for reimbursement as liquidated damages to partially offset expenses Incurred by the Seller for legal advertising, title search, internal Authority administrative actions or otherwise if the Buyer fails to complete the purchase of said land within the time specified in Paragraph 2 herein. ]. This offer is binding upon Buyer if accepted by Seller within sixty (60) days and cannot be withdrawn during this time. If notaccepted by Seller within sixty (60) days, it is automatically cancelled and expires, in which Case the earnest money shall be promptly refunded to Buyer, w-thout interest. g. Closing of purchase shall take place not more than one hundred twenty (120) days, or as otherwise specified in Paragraph 2 hereof, from date of accept- ance of this offer by Seller{ and notification to Buyer thereof by returning t Buyer one (1) accepted copy of this offer to the address indicated below. The land shall be conveyed to the Buyer by a Warranty Deed on date of closing. 9. The Setter may or the Buyer shall promptly file the Deed for recordation in the Penobscot Registry of Deeds at Bangor, Maine. The Buyer shall pay all costa (including the cost of any real estate traasfer tax on the Deed, for which stamps In the proper amount shall be affixed to the Deed by the Buyer) for so recording the Deed. 10. Promptly after completion of the Improvements in accordance with this Agreement, the Seller will furnish the Buyer with an appropriate instrument so certifying. The certification by the Seller shall be (and it shall be so provided to the Deed and in the certification itself) a cone Lslve determination Of satis- faction and termination of the covenants in the Agre went and the Deed with respect 0 to the obligations of the Buyer and his heirs and assigns to construct the Improve- ments and the dates for the beginning and completion thereof. The certification shall be in such form as will enable it to be recorded, If the Seller shall re- fuse or fail to provide the certification, the Seller shall, within thirty ( 30) days after written request by the Bayer, provide the Buyer with a written statement indicating in adequate detail how the Buyer has failed to complete the Improvements in conformity with the Lrban Renewal Plan or this Agreement, or is otherwise in default, and what measures or acts it will be necessary, in the opinion of the Seller, for the Buyer to take or perform in order to obtain the certification. 11. The word "Buyer" in this agreement shall be construed to mean both the plural and singular number, in any gender, and to mean not only the party thereby designated, but also his, her or their respective hers, assigns, executors, ad- ministrators or successors in interest, or, in the event that any such party is a corporation, its or their successor$ or assigns. witness In City Council Date Buyer Telephone Council Order No._ A True Copy, Attest: City Clerk -9- ACCEPTANCE: The above offer is accepted this day of 19. and accordingly constitutes a binding contract for sale of land between Buyer and Seller. URBAN RENEWAL AUTHORITY OF (SEAL) THE CITY OF BANGOR Executive Director APPROVED AS TO LEGAL FORM AND ADEQUACY: -10-