HomeMy WebLinkAbout1969-10-29 314-W ORDER319-W
Introduced by Councilor Houston, Oct. 29, 1969
_ry�tpp CITY OF BANGOR
(TITLE.) Mrbfrf._. Approving Fro PPeed Contract for _Sale of Land in the Stillwater
Park Urban Renewal Project ParrelsNo . 23, 24, 25, 26 6 187
BY Us ME Cowual of W (SIR of Banter.
ORDERED,
THAT AUTHEtS, the Urban Renewal Authority of the City of Badger proposes
to enter into a contract for the sale of parcels centered 23, 24, 25, 26 & 18E
in the Stillwater Park Urban Renewal Project With Triangle Realty IncorWLated
; and
WHEREAS, the said Triangle Realty Incorporated
has offered to pay the sen of Three Thousand, Six Hundred and 68/100 Dollars
for said parcel , said price being the minim,m approved price for said parcels
as established by the Urban Renewal Authority and approved by the Department of
Housing and Urban Development; and
WHEREAS under the provisions of Chapter 168 of the Private and
Special Laws of Maine, 1957, as amended, City Council approval of all Contracts
for the sale of land within the project area is required; and
wU EEtS, the Urban Renewal Authority has filed a copy of the
proposed contract with Triangle Realtv. Inc. in the office of the City Clark;
NOW, THEREFORE, BE IT MDERED:
THAT the proposed contract on file with the City Clerk be and
is hereby approved.
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RECEIVED
1969 GCT 23 yl 4:06
oaoee
CITY C!_ERR'S OFFICE xn.,
2`q,;;
bale aF Idnd 1n Stlllwate.r P2[k V.R.
Parcel No. 23,24,25,26 and 187
......................................
Introduced and filed by
�k.�� :..
Cewellm
CONTRACT FOR SALE OF LAND
(OPFFR AND ACCEPTANCE)
STILLWATER PARR PROJECT
PR=CT No. ME. R-4
Bate �._ io 1969
TO: Urban Renewal Authority
of the City of Bangor ("Seller")
City Rall
Bangor, Maine 04401
!6 a 11
�4
hereto called "Buyer", Eters to bu ,subject Co the terms set forth herein, the
following described lend: uP)
Lo[ numbered as shown on Plan of Land entitled
"Stillwater Park Project, Bangor, Penobscot County, Maine
Urban Renewal Authority of the City of Bangor, Project
Me. R-4" consisting of nine (9) pages and recorded in
Penobscot Registry of leads in Plan Book pages
to , inclusive. �y^
2. Buyer will pay�
Dollars 03 Lo74P) for said land in cash within one hundred and twenty (120)
days after the acceptance of this offer by Seller. The Authority may gran[
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 far Stillwater Park Project,
Bangor, Maine, R-4, which was recorded in Volume 2113, page $35, of Penobscot
Registry of Deeds, and to those conditions set forth hereinafter to which Buyer
expressly agrees.
(a) (i) The Buyer herein covenants by and for himself, his heirs,
executors, administrators and assigns and all persona claiming under or through
them, that Buyer and such heirs, executors, administrators and assigns, and all
persona 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 as in existence at the
time of the sale;
(2) Hot disctfminate upon the basis of race, color, creed
or national origin in the sale, lease or rental or in the use or occupancy of
the Property or any Improvements erected or to be erected thereon, or any part
thereof.
(ii) Ic is intended and agreed that the agreements and Covenants
provided in this section shall be covenants running with the land and that they
shall, in any event, and without regard to technical classification or designation,
legal or otherwise, and except only as specifically provided in this Agreement,
be, to the fullest extent: permitted by law and equity, binding for the benefit
and in favor of, and enforceable by, Beller, its successors and assigns, the City
of Bangor, any successor in interest to the Buyer of the Property, and the owner
of any other land (or of 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 (2) of subsection (i) hereof) against the Buyer, his successors and
assigns, to or of the Property or any interest thareln, and any party in pos-
session or occupancy of the Property. It is further intended and agreed that
the agreement and covenant provided in clause (1) (1) shall remain m effect
until January 22, 2022, and during the term of any extension thereof, (at which
time such agreement and covenant shall terminate), and those provided in clause
(1) (2) shall remain in effect without limitations as to time: Provided, that
such agreements and covenants shall be binding on Buyer himself, each successor
in interest or assign, and each party in possession or occupancy, respectively,
only for such period as he shall have title to or an interest in or possession or
occupancy of the Property.
(til) In amplification, and not in restriction, of the provisions
of the preceding subsection, it is intended and agreed that Seller and City of
Bangor shall be deemed a beneficiary of the agreements and covenants provided in
subsection (i) of this section both for and in its own right and also for the
purposes of protecting the. interests of the community and the other parties,
public or private, in whose favor or for whose benefit such agreements and
covenants have been provided. Such agreements and coaenanta shall run in favor
of Seller and City of Bangor for the entire period during which agreements and
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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 lav or suite in equity or other proper proceedings to
enforce the curing of such breach of agreement or 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 hoose
(single family) upon the Land which will meet the minimum requirements as set by
City of Bangor ordinances and the Declaration of Restrictions. Construction moat
start within six (6) months of the date the Deed is recorded in the Buyer's owes,
and completion moat be accomplished within twelve (12) months of date of commenc-
ing construction. Plane for said dwelling house will be subject to review by
Seller prior to conveyame of the land. Within ninety (90) days of the date of
the acceptance of the offer by Seller, Buyer agrees to submit construction plana
for approval by Seller, and evidence satisfactory to the Seller of Buyer's
ability to finance the construction of the proposed Improvements.
(c) (i) In the event that prior to completion of the Improvements as
certified by Seller:
(1) Buyer (or 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 the 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 shell have the right to xe-enter and take possession
of the Property and to terminate (and revert to the Seller) the estate conveyed
by the Warranty Deed to the Buyer, it being the intent that the conveyance of the
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Property to the Buyer shall 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 (i), failure
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 sever
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 etch 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)
the 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
mortgages.
(it) 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, and his 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
asserting 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 provision that Seller should not be constrained so as to avoid the risk
of being deprived of or limited to the exercise of the remedy provided in this
section (c) because of concepts of waiver, Inches, or otherwise) to exercise
such remedy at a time when It may Still hope otherwise to resolve the problems
created by the default involved, nor shall any waiver in fact cede by Seller with
aspect 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 section or with respect to the particular default except to
rhe extent specifically waived.
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(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 lend
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 Beller is entering into this Agreement with the Bayer, and in so doing is
further willing to accept and rely on the obligation of the Buyer for the faith-
ful 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 may 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 no authorized) has not made or created, and that
be will not , prior to the proper 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 form of or with respect to this Agreement or the Property, or ..
Any interest therein, or any contract or agreement to do any of the same, without
prior written approval of the Seller, in recordable form. The Seller shall be
entitled to require as conditions to any such approval Chau
(i) Any proposed transferee shall 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 Beller for review, and the
Seller has approved, all instruments and other legal documents involved in
effecting transfer;
(1£1) The consideration payable for the transfer by the transferee
or on his behalf shall not exceed an amount cepresenoing the actual coat (in-
cluding carrying charges) to the Buyer of the Property and the Impcwemeata, if
any, theretofore made thereon by him; it being the igtenc of this provision to
preclude assignment of this Agreement or transfer of the Property for profit
prior to the completion of the Improvements, and top wide that in the event any
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such assignment or transfer is made (and is not cancelled), the Seller shall be
entitled to increase the purchase price to the Buyer of the Property provided in
Section 2 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
authorized, belong and be paid to the Seller.
(1v) The Boyer and his 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 Maine, 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
specific written agreement by the Seller to the contrary, no such transfer or
approval 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
attention 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 Beed 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
interest, shall be considered in breach of or default in Its obligations with
respect to the preparation of the Property for redevelopment, or the beginning
and completion of construction of the Improvements, or progress with respect
thereto, in the event of delay in the performance of such obligations due to un-
foreseeable causes beyond his control and without his fault or negligence, mclud-
Ing, but not restricted to, acts of God, or of the public enemy, acts of the
Government, acts of the other party, fires, floods, epidemics, quarantine restric-
tions, strikes, freight embargoes, and unusually severe weather or delays of sub-
contractors 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 kr
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
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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 enforced
delay, have first notified the other party thereof in wr itin8, and of the cause
or causes thereof and requested an extension fon the period of the delay.
(g) Prior t0 the completion of the Improvements by the Buyer, neither
the Buyer nor any successor in interest to the Property shall engage in any
financing or any other transaction creating any mortgage or other encumbrance or
lien upon the Property, whether by express agreement oroperation of law, or
suffer any encumbrance Or lien t0 be made on or attach to the Property, except,
and only to the extent necessary, for the purpose of obtaining funds for making
the Improvements. 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 Seller of any encumbrance or Lieu that has been created an 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 to those representing covenants running with the land, the holder
of any obligation authorized by this Agreement (including any such holder who
obtains title to the property as a result of foreclosure proceedings or action
in lieu thereof, but not including (1) any other party who thereafter obtains
title to the property from or through such bolder or (1) any other purchaser at
foreclosure sale other than the holder of the obligation itself) shall in np
vise be obligated by the provisions of this Agreement to construct or complete
the Improvements or to guarantee such construction or completion; nor shall any
covenant or any other provision in the Deed be construed to so obligate such
holder: Provided, that nothing in this section or any Other section Or pro-
vision 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, r to con-
struct any improvements thereon, other than those uses or improvements provided
or authorized in the Declaration of Restrictions, ordinances of the City of Bangor
and this 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,
official, or employee participate in any decision relating to this Agreement which
affects his personal interests or the interests Of any corporation, partnership,
or association in which he is, directly or indirectly, interested. No member,
official, or employee of the Seller shall be personalty liable to the Buyer or
any successor in interest in the event of day default of breach by the Seller or
for any amount which may become due to the Buyer or siccessor or on any obli-
gations under the terms of this Agreement.
5. Taxes and special assessments, if any, due on or before the closing date
shall be paid by Sel Lei. /p�{�,�
6. Buyer herewith tender$ ° 4r �V/
Collars ($/JAO ) which sum is at least five percent (5%) o tM1 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 fox 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 Speci-
fied 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, without interest.
8. Closing of purchase shell take place not mote than one hundred twenty
(120) days, or as otherwise specified in Paragraph 2 hereof, from date of ac-
ceptance of this offer by Seller; and notification to Buyer thereof by returning
to 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 Seller 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
costs (Including the coat of the Federal documentary sump tax on the Deed, for
which stamps in the proper amount shall be affixed to the Deed by the Buyer) for
so recording the Beed.
10. Promptly after completion of the Improvements in accordance with this
Agreement, the Seller will furnish the Buyer with an appropriate recordable in-
strument so certifying. The certification by the Se-ler shall be (and 1t shall
to the obligations of the Buyer and his heirs and asstgm to construct the It@rm�a-
meate and the dates for the begimiag Bad comq�lebion thereof. no certification
shall be in such form es will enable It to be recorded. If the Sailer shall to -
fuse or fail to preside the certification, the Bolter shell, within
( ) days after written request by the Buyer, provide the Buyer
wUb • written statement Indicating in adequate detail has the Buyer Ms fulled
to complete the Imp[ev®eete In conformity with the Urban eeoeell plan or this
Agreerent, or to ottarwise to default, and what measures or act$ It will he
necessary, in the opinion of the Beller, for the Buyer to tab or perform to order
to obtain the certification.
11. The void I%uye!' to this Wooster shall be construed to "An both the
plural end siagular amber, in any gender. and to vasa That only the party thereby
designated, but also his, her or their respective Mire, seslgns, executors, ad-
rtntetrators or successors to interest, es, in the event test Any each party is s
corporation, its or their successors or assigns.
�/Z/d1y9�F /YEO/fy, Lry�_
witness Bey<i.
Qvn
Wit"" &qtr
-7G 7`1
"areas
7,r���r u
Talsph ( S
Io City Comtel Council Aider go._
Vats
♦ True Copy, Attest:
City Clark
.9.
ACCEPTANCE:
The above offer is accepted this day of ,
l9_, and accordingly constitutes a binding contract for sale of land between
Buyer and Seller.
ORBAN RENEWAL AUTHORITY
OF THE CITY OF BANGOR
witness Chairman
Executive Director
APPROVED AS TO LEGAL FORM An ADEQUACY:
Attorney
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