Press Alt + R to read the document text or Alt + P to download or print.
This document contains no pages.
HomeMy WebLinkAbout1969-10-13 296-W ORDERz96 -w 28511
XIntroduced by Councibr Houston, Oct. 13, 1969
1, CITY OF BANGOR
(TITLE) (IDTIMm-_Approving Proposed ConFract. for.. Sale of Land in. the Stillwater
Perk Urban Renewal Project Parcel No .
By the City Cawood of the M4 of Banger:
ORDERED,
TEAT WEREAS. the Urban Renewal Authority of the City of Banger proposes
to enter into a contract for the sale of parcel reassured 101
in the Stillwater Park Urban Renewal Project with Eremite, and
Valley. Inc. , and
WHEREAS, the said Eremite & Valley, Inc.
has offered to pay the sum of Twelve Hundred and ----- 00/100 Dollars
for said parcel said price being the minim® approved price for said parcel
as established by the Urban Renewal Authority and approved by the Departmnt of
Housing and Urban Development; and
WHEREAS under the provisions of Chapter 168 of the Private and
Special Laws of Plaine, 1951, as satiated, 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 withEremita & valley, Inc. in the office of the City Clark;
NW, TfDiREFORE, BE IT ORDERED:
THAT the proposed contract on file with the City Clerk be and
Is hereby approved.
IN CITY COUNCIL
Oct. 13, 1969
Indefinitely postponed.
296-w
ORDER
Yitleo
sale of Iand in Stillwater Park -
..............6666....................
No.
..Parcel ... 101 ......................
Introduced and Mad by
Cowcilnm
STILLWATER PARR PROJECT
PROTECT NO. ME. R -L
PART I
of
CONTRACT FOR
SALE OF LAND FOR PRIVATE RRDEVELORPENT
(OFFER AND ACCEPTANCE)
Ey add Between
Urban Renewal AuthQritv of the City of
and
ErMita s Valley, Inc.
PART I
COSTe8T5
Section
Page
L.
Sale: Purchase Price
2
2.
Conveyance of Property
2
3.
Good Faith Deposit
3
4.
Time for Commencement and Completion of Inprovements
4
5.
Time for Certain Other Actions
4
6.
Period of Duration of Covenant on use
4
y.
Notices and Demande
5
8.
Special Provisions
5
9.
Mad ificatiotm of Part II
5
10.
Counterparts
5
CDN1'FACP FOR
SALE OF LAtN FM PRIVATE RSDEPELCpeENr
AGREEMENT, consisting of this part I and Part II (F>em R-6209&, 1-64)
annexed hereto and made a part harecf (which Part I and Part II are together
hereinafter called "Agreement"), made on Or as of the 42nd day of
September , 196E by and between the Urban Renewal Atthority of
the City of Recent, a public body corporate (which, togeeher with any auc
censor public body or officer hereafter designated by or pursuant to law, is
hereinafter called "Agency"), established pursuant to Chapter 166 of the Private
and Special Laws of the State of Raine, 1957, as amenied (hereinafter called
"Urban Renewal Act") and having ins Office at City Hall in the City of Banger
(hereinafter celled "City"), State of Maine, and the p emit» a tro77vy-,
IncCer;OIeted , a corporation crganfeed
and existing under the laws of the State of Maine
hereinafter called "Redeveloper") and having an office for the transaction
of business at 39-43 dl i
in the City of Prewar , County ofpe nnhannt
and State of mine WITNESSEPH:
WHEREAS, in furtherance of the Objectives of the Urban Rmawal der. the
Agency has undertaken a program for the clearance and r nstruction or re-
habilitation Of slum and blighted areas In the City, and In this connection
Is engaged in carrying out an urban ranewal project known as the "Stil_wacer
Park Urban Renewal Project" (herecoafter called "Project") is an area there-
inafter called 'Project Area") located in the City; and
WHEREAS, the Agency has offered to sell mW the Redeveloper is willing
to purchase certain real property located in the Project Area and more partic-
ularly described in Schedule A annexed hereto and made a part hereof ;which
property as so described is hereinafter called 'Property-) and =a redevelop
the Property for and in accordance wl to the uses specified in the Declaration
of Restrictions recorded in Penobscot Registry of Heeds, Book 2113, Page 835
aM In accordance with the agreement; and
WHEREAS, the Agency believes that the redevelopment of the Property For -
event to the Agreement, and the fulfillment generally of the Agrement, are In
the vital and beat interests of the City and the health, safety, morals, and
-1-
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 base undertaken and is being assisted:
NOW, THEREFORE, In consideration of the premises and the mutual obliga-
tions of the parties hereto, each of them does hereby covenant and agree witf
the other as follows:
SBC. 1. ME: PURCHASE PRICE
Subject to all the terms, covenants, and conditions of the Agreement,
the Agency will sell the Property to the Redeveloper for, and the Redeveloper
will Purchase the Property from the Agency and Pay therefor, the amouat of
Erse Thousand Two Hundred and o0/100 Dollars ($ 1.100.00 1,
hereinafter called "Purchase Price", to be paid in cash or by certified check
simultaneously with the delivery of the deed conveying the Property to the
Redeveloper.
SEC. 2. CONVEYANCE OF PROPERTY.
(a) Form of Deed. The Agency shall convey to the Redeveloper title to
the Property by Warranty Deed (hereinafter celled 'Deed"). Such conveyance
and title shall, in addition to the condition subsequent provided for is
Section 704 hereof, and to all other conditions, covenants, and restrictions
r
set forth o referred to elsewhere in the Agreement, be subject to the teres,
if any, set forth on said Schedule A, attached hereto.
(b) Time and Place for Delivery of Deed. The Agency shall deliver the
Deed and possession of the Property to the Redeveloper on
19. or
an
such earlier date as the parties hereto any mutually agree
writing. Conveyance shall be made ac 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.
(e) Apportionment of Current Taxes. The portion of the current taxes,
r
if any, on the Property which a a lien on the date of deliveryDe
of the ed
to the Redeveloper allocable to buildings and other improvementy which have
been demolished or removed from the Property by the Agency shall be borne by
the Agency, and the portion of such current taxes allocable to the land shall
be apportioned between the Agency and the Redeveloper as of the date of the
delivery of the Decd. If the amount of the current taxes on the Property is
not ascertainable on such date, the apportionment between the Agency and tie
Redeveloper shall be on the basis of the amount of the moat recently ascer-
tainable taxes on the Property, but such apportionment shall be subject to
final adjustment within thirty (30) Saye after the date the actual amount of
such current taxes is ascertained.
(d) Recordation of Deed. The Redeveloper shall promptly file the
Wed for recordation in the Penobscot Registry of Deeds at Bangor, Maine.
The RedeveLoper shall pay all costa (including the coat up the Federal
documentary stamp tax on the Deed, for which stamps in the proper'. mount
shall be affixed to the Deed by the Redeveloper) for ea recording the Deed.
-2-
(a) Further Obli¢atlone of [he A¢ency and Me Redevelovec.
See Schedele A.
SRC. 3. GOOD FAITH DEPOSIT.
(a) Annual. The Redeveloper has, prior to or simultaneously with the
execution of the Agreement by the Agency, delivered to the Agency a goad faith
deposit of cash or a certified check satisfactory to the Agency in the amount
of Dollars
($ - ; finis CvaEEe: c'e��^R€ security
far A erforeence of the Obligations of the Redeveloper to be performed
prior to the return of the Deposit to the Redeveloper, or its retention by
the Agency as liquidated damages, or its application ovcunt of the
Purchase Price, as the casemay be, in accordance with theAgreaeent. the
Deposit, if cash or certified check, shall be deposited in an account of the
Agency In a bank or trust company selected by it.
(b) Interest. the Agency shall be under an obligation to pay or
n
interest on the Deposit, but if interest is payable thereon such interest
when received by the Agency shall be promptly paid to the Redeverloper.
(c) Avvlis tion to Purchase Price. Upon written request of the
Redeveloper, the emounc of the Deposit, made In cash or by certified check,
shall be applied on account of the Purchase Price at the time paymeat of the
Purchase Price in made
(d) Retention by Agency. Upon termination of tae Agreement as provided
in Section 203 hereof, the Uepoait, if cash, or bonds or stellar obligations of
the United Staten, including all interest payable thereon after such
termination, or, if a surety bold, the presents thereof, shall be retained
by the Agency as provided in Section 203 hereof.
(e) Return to Redevelovera Upon tereinatlon of the Agreement as
provided In Section M2 hereof, the Deposit shall be returned to the Redeveloper
by the Agency as provided In Section 202 hereof. If the Agreement shall not
have been terminated as in Section 202 or 203 hereof movided, the Agency
shall return the Deposit to the Redeveloper upon receipt by the Agency of
the following:
(1) A copy of the c miteent or covediteents obtained by the
Redeveloper for the mortgage lose or loans to assist in
financing the construction of the Improvement¢ (as defined
in Section 301 hereof), certified by the Redeveloper to be a
nue and correct copy or copies [hereof;
dance satisfactory to the Agency that the interim mortgage
n to assist in financing the construction of the Improvements
Me been initially closed;
(-ii) A copy of the contract between the Redeveloper and the general
contractor for the eonseructloa of the Improvements, certified
by the Redeveloper to be a true and correct copy thereof; and
(Sv) A copy of as contract band provided by the general contractor
in connection with the aforesaid construction contract which
-3.
bond shalt be in a peel sum equal to not lase than ten
percent (10X) of the contract price under said construction
contract, certified by the RedeveLoper to be a true and
correct copy thereof.
SEC. 4.. TIES FOR CQM0MEEPNI AM CDETIETION OF WROVEAENTS.
The construction of the Improvements referred to in Section 301 hereof
shall be commenced in any event within six (6) months after the date of the
Deed, and, except as otherwise provided in the Agreement, shall be Completed
within eighteen (18) months after such Deed date.
SEC. 5. TIM FOR CERTAIN WEER ACTIONS.
(a) Time for Submission of Construction Plans. The time within which
the fledeveloper shall submit itBConstruction Plane^ (as defined in Section
301 hereof) to the Agency in any event, pursuant to Section 301 hereof, shall
be no Later than one hundred twenty (120) days from the date of this Agreement.
(b) Time for Submission of Corrected Construction Plane. Except as
provided in Paragraph (c) of this Section 5, the time within which the
Redeveloper shall submit any newrcorrected Construction Plans as provided
for in Section 301 hereof shall benotlater than sixty (60) days after the
date the Redeveloper receives written notice from the Agency of the Agency's
rejection of the Construction Plans referred to in the latest such notice.
(c) Maximum Time for Approved Construction Plane. In any event, the
time within which the Redeveloper shall submit Construction Plans which conform
to the requirements of Section 301 hereof and are approved by the Agency shall
be not later than ninety (90) days after the date _ the Redeveloper
receives wr¢cen notice from the Agency of the Agency's first rejection of
the original Construction Plane submitted to it by the Redeveloper.
(d) Time for Agency Action on Chane in Construction Plans. The time
within which the Agency may reject any charge in the Construction Plans, a
provided in Section 302 hereof, shall be forty-five (45) days after the date
of the Agency's receipt of notice of such change.
(e) Tim for Submissionf Evidence of EQuitYCapital and Eemtkage
Financing. The time within which the Redeveloper shall submit to the Agency,
in any event, evidence as to equity capital and any commitmeat necessary for
mortgage financing, as provided in Section 303 hereof, shall be not later than
thirty ( 30 ) 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 deemed to have been approved as provided in Section
301 hereof, after the expiration of thirty (30) days following the date of
receipt by the Agency of the Construe cion Plana so deemed approved.
SEC. 6. FISI00 OF DURATION OP CDEAEANP ON NSR.
The taverner pertaining to the ones of the Property, set forth in Section
401 hereof. shall remain in effect from the date of the Deed until January 22,
2022, the period specified or referred to in the Declaration of Restriatioas
until such date thereafter to which it my be extended by proper amame
dnt of
cha Declaration of Restrictions, an which cats, as the case may be, such
covenant shall terminate.
SBC. y. NOTICES AND DEIAUDS.
A notice, demand, ocommunicationothercommunication 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 c of the Redeveloper, is addressed to or delivered
personally to the Redevetcpet at
39-43 groadlawn Drive
Brewer. Maine ani
(11) in the c of the Agency, is addressed to or delivered
personally to the Agency at City Rall, Banger, Maine
or at each other address with [aspect to either path party
as that party may, from then to time, designate in Pricing
and forward to the other as Frorided in this Section.
SBC. 8. SPECIAL PROVISIONS
This conveyance is subject to all the terms and conditions of the
Declaration of Restrictions for the Stillwater Park Project, Mr. R-4,
recorded in Penobscot Registry of Deeds, vol. 24, Pagea 1-9.
SEC. 9. MODIFICATION OF PA.Yf II.
The following amendments and modifications are hereby made is the terms,
covenants, and conditions fommin, Part rI hereof'
SEC. 10. CODNTERPARTS.
The Agreement is executed i three (3) counterparts, each of which shat•
constitute one and the ems Instrument.
IN WITNESS WHEREOF, the Agexy has caused He Agreement to be duly
executed in its name and behalf by its Bxee• Sv 8'�e
and its seal to be heveuato duly affixed and
attested by its Executive Director , and the
-5-
_,den.. 0 ,
gedeveloper baa caused the Agreement to be duly executed is its Seem and behalf
by its ?resident and its autocrats semi to be berewto duly affixed and
attested by its Secretary, on or a of the day first abuse mitten.
r Eremite A V6110 Inco[ M rat
me epee
av
(— (FT*SIoftcj 7T
Street:
(years STY
Commit Order No,_
In City Council
:lite
Attest:
Attest;
(Secretary)
A True COPY, Attest:
-6-
(City Clark)
(Agency)
SCHEDULE A
Description of Property
All that certain parcel or parcels of land located in the City of Bangor, County
of Penobscot, State of Maine, more particularly described as follows:
Stillwater Park Project, Me. R-6
Parcel No. 101
Subject to the following covenants, restrictions and easements:
(if none, so state)
Subject to telephone easements at rear of property.
further obligations of the Agency and the Redevelopar:
-7-