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HomeMy WebLinkAbout1968-10-14 248-V ORDER248-v Introduced by Councilor Baklmd, Cct. 14, 1968 (gaff, CITY OF BANGOR QITIL) Vgaffr-_Approving Proposed ConFract for Sale of Land in the Stillwater Park Urban Renewal Project Parcel No 40, 41 & 42 BY the CftY Coweeil of the C(tY of Beeper. ORDERED, THAT WHEREAS, the Urban Renewed Authority of the City of Banat proposes to enter into a contract for the sale of parcel numbered 40, 41 & 42 in the Stillwater Park Urban Renewal Project with John L & Evelyn B. Russell ; and WHEREAS, the said John L. & Evelyn B. Russell has offered to pay the gum of Two Thousand, Two Hundred Dollars ($2,200.00) for said parcel , said price being the minim® approved price for said parcel as established by the Urban Renewal Authority and approved by the Department of Housing and Urban Development; and WHERRAS under the provisions of Chapter 168 of the Private and Special Laws of Mine, 1951, as amended, City Council approval of all contracts for the sale of land within the project area is required; and WHEREAS, the Urban RenearphMarlty has filed a copy of the proposed contract with John L. & Evelyn B. in the office of the City Clark; NOW, THEREFORE, BE IT ORDERED: THAT the proposed contract on file with the City Clerk be and is hereby approved. 248-V Ifre9 tCi10 3:12 ORDER Sa1e o£ La,d itilheate+ Pamk UR INCITY COUNCIE...................................... Oct. 14, 1968 PASSUDcel No. 40, 41, 42. ...P ................................. V Introduced and filed by ciL`an STILLVATeR PARK PROJECT PROJECT NO. tIE. R-4 HUD-6209A (4-66) ----------- _------- ____________________------___-__-- PART I of CONTRACT POR SALE OF L FOR PRIVATE REOEVELOPNENT (OFFER ANO ACCEPTANCE) By and Between Urban Renewal Authority of the City of Bangor and John L. and Evelyn B. Russell PART I CONTENTS Section 1. Sale: Purchase Price 2. Conveyance of Property 3. Good Faith Oeposlt 4. Time for Cc®encement and Completion of Toprovenente 5. Time for Certain Other Action 6. Period of Duration of Covevnn on Use 9. Notices and Demands S. Special Provisions 9. Modifications of Part 11 10. Counterparts Page 2 3 CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT AGREEMENT, consisting of this part f and Pert II (Pont R -6209B, 1-64) anmmsed hereto and made a part hereof (which Pert I and Pert II are together hereinafter called "Agreement"), made an or as of the 9th day of October , 19 68, by and between the Urban Renewal Authority of the City of Bangor , a public body corporate (which, together with any suc- cessor 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 Maine, 1957, as amended (hereinafter called "Urban Renewal Act") and having its office at City Nell in the City of Bangor (hereinafter called "City"), State of Maine, and the Sohn L, and Evelyn B. Russell , p xpyyggpA{pRpr.�py- aaxrxanm�masaxnErnnaer xnvaardfrgY<RRLrg�fRS�xE (hereinafter called "Redeveloper") and having an office for the transaction of business at 315 Grandviex Ave. In the City of Bangor , County of Penobscot and State of Maine WITNESSETH: WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency has undertaken a program for the clearance and reconstruction or se - habilitation of slum and blighted areas In the City, andIn this connection is engaged in carrying out an orb= removal project known as the "Stillwater Park Urban Renewal Project' (hereinafter called "Projecty) In he area (hCre- inafter called "Project Area") located in the City; and WERREAS, in furtherance of the objectives of the Urban Renewal Authority Lew, Chapter 168 of the Private and Special Laws of Maine, 1957, and all acts amendatory thereto, the Agency is carrying out an urban renewal project known as the "Stillwater Park Project, He. R-4, Bangor, Maine " for which an Urban Renewal Pian, consisting of the Urban Renewal Plan, dated December ], 1961, and approved by the City Council of the City on January 22, 1962, by Resolution No. 28-P, as emended July 1, 1964 and approved by the Commissioners of said Authority on July 21, 1964, by Resolution No. 135; as amended by Amendment No. 2 thereof dated February 10, 1965, and approved -I- by the Commissioners of said Authority on March 23, 1965, by Resolution No. 166. The Urban Renewal Pian as further amended by Amendment No. 3 thereof dated August 2, 1965, and approved by the Commissioners of said Authority on November 16, 1965, by Resolution No. 198 and approved by the City Council of the City on June 13, 1966, by Resolution No. 135-7 and was subsequently recorded In the Office of the City Clerk, located in City Hall, Bangor, Maine in Volume 24, Page 63 . WHEREAS, in order to enable the Agency to achieve the objectives of the Urban Renewal Plan and particularly to make the land in the Project Area avail- able for redevelopment by private enterprise for redevelopment for and in accor- dance with the uses specified In the Urban Renewal Plan, both the Federal Govern- most and the City have undertaken to provide and have provided substantial aid and assistance me the Agency through a Contract for Loan and Capital Grant dated October 11, 1962, to the case of the Federal Government and a Cooperation Agree- ment. dated February 20, 1962, Inthecase of the City, as amended; and WHEREAS, the Agency has offered to sell and the Redeveloper Is willing to purchase certain reel property located In the Project Area and more partic- ularly described in Schedule A an eaed 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 a specified In the Urban Renewal Plan and In accordance with the Agreement' and e WHEREAS, the Agency believes that the redevelopment of the Property pur- suant to the Agreement, and the fulfillment generally of the Agreement, are the vital and best Interests of the City and the health, safety, morals, and rn welfare of its residents, and In accord with the public purposes and provisions of the applicable Federal, State, and local laws and regpiremeats under which the Project has been undertaken and Is being assisted: NOV, THEREFORE, in Consideration of the premises and the mutual obliga- tions of the parties hereto, each of than does hereby covenant and agree with the other as follows: SEC. 1. SA : 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 amount of incnty-tan Hundred Dollars ($ 2200.00 ), 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 shell convey to the Redeveloper title to the Property by Warranty Deed (hereinafter called `Deed'). Such conveyance and title shall, in addition to the condition subsequent provided for In Section 704 hereof, and to all other conditions, covenants, and restrictions set forth or referred to elsewhere In the Agreement, he subject to the terms, if any, set fcrth an said Schede Is A, attached hereto. -2- (b) Time and Place for Delivery Of Deed. Me Agency shall deliver the Used and possession of the Property to the Redeveloper on October 0 19_65 o no osuch earlier date as the parties hereto may =rosily agree in writing. Conveyance shall be made at the principal office of the Agency and the Redeveloper shall accept such conveyance and pay to the Agency at such time and place the Purchase Price. (c) Apooitlo0%h of Currant Tax en. The portion of the current taxes, if any, on eM1e Property which a e If an on the date of delivery of the Deed to the Redeveloper allocable to buildings and other ivpmvements 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 Deed. If the amount of the current taxes on the Property i not ascertainable on such date, the apportionment between the Agency and the Redeveloper shall be on the basis of the appose of the moat recently aer- tainable taxes on the Property, but such apportionment shall be subject to final adjustment within thirty (30) days after the date the actual mount of such censor taxes is ascertained. (d) depredation of Deed. Me Redeveloper shall promptly file the Deed for re ordation in the Penobscot Registry of Deeds at Bangor, Maine. The Redeveloper shall pay all Costs (including the cost of the Federal documentary stamp tax on the Deed, for which stamps in the proper amount shall be affixed to the Deed by the Redeveloper) for so recording the Deed. (e) Further Obligations of Me Agency and Me Redeveloper. ee S Sche u e A. SEC. 3. CORD FAITR DEPOSIT. (e) Amount. The Redeveloper has. prior to or simultaneously with the execution of Me Agreement by the Agency, delivered to the Agency a good faith deposit of cash or a certified check satisfactory to the Agency in the amount Of On@ Hundred Ten Dol tars 0 lienn hereinafter celled "Deposit^, a security for the performance of the obligations of the Rodevelaper to be p€rfesmed.. prior to the return of the deposit to the 3edeveloper, or its retention by the Agency as liquidated damages, or its application oncunt of the Purchase Price, as the ca may be, i accordance with the Agreement. Me Deposit, if cash or certified check, shall be deposited in an account of the Agency in a bank or crust company selected by it. (b) Interest. The Agency shell be under no obligation to pay or earn interest on Che 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. Upon written request of the Redeveloper, the amount of the Deposit, made 1n cash or by certified check, shall be applied an account of the Purchase Price at the time payment of the Purchase Price is made. (d) Retention by Agency. Upon termination of the Agreement as provided in Section 703 hereof, the Deposit, if cash, or bands or similar obligations of the United States, including all interest payable thereon after ouch termination, or, if a surety bond, the proceeds thereof, shall be retained by the Agency as provided in Section 703 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 terminated as in Section 702 or 703 hereof provided, the Agency shall return the Deposit to the Redeveloper upon receipt by the Agency of the following: (1) A copy of the commitment or 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; (11) Evidence satisfactory to the Agency that the interim mortgage loan to assist in financing the construction of the Improvements has been initially closed; (fif) A copy of the contract between the &developer and the general contractor for the construction of the Dmprovements, 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 leas than ten percent (10%) of the contract price under said construction contract, Certified by the Redeveiopet to be a true and correct copy thereof. SEC. 4. TIME FOR CfMIRNCWNT AND COMPLETIOW OF IMPROVEMENTS. 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, shell be Completed within eighteen (18) months after such Deed date. -4- SEC. 5. TIME POR CERTAIN OTHER ACTIONS. (a) Time for Submie Sion Of Construction Plane. The time within which the Redeveloper shall submit its "Construction 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 free 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 new or corrected Construction Plane as provided for in Section 301 hereof shall be not later than sixty (60) days after the date the Redeveloper receives written notice from the Agency of the Agency's refection of the Construction Plane 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 written notice from the Agency of the Agency's first rejection of the original Construction Plana submitted to it by the Redeveloper. (d) Time for Aaeney Action ou Change in Construction Plane. The time within which the Agency may reject any change In the Construction Plane, as provided In Section 302 hereof, shall be forty-five ;45) days after the date of the Agency's receipt of notice of such change. (e) Time for Submission of Evidence of Eoufcy Capital and Mortgage Financing. 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, as provided in Section 303 hereof, shall be not later than Ten ( 10 ) days after the date of written notice to the Redeveloper of approval of the Construction Plane by the Agency, or, if the Cone traction Plane shall be deemed to have been approved as provided in Section 301 hereof, after the expiration of thirty (30) days fallowing the date Of receipt by the Agency of the Construction Plane so deemed approved. SEC. 6. PERIOD OF DURATION OF COVENANT ON USE. The covenant pertaining to the uses of the Property, set Porch 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 Urban Renewal Plan, or until Such date thereafter to which it may be extended by proper amendment of the -5- Urban Renewal Plan, 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, such covenant shall revenuers. SEC. ). ENTICES AND DEMANDS. A notice, demand, or other co®unication 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, of delivered personally, and (I) 1n the case of the Redeveloper, 1s 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 Nall, Ranger, Maine or at such other address with respect to either such party as that party may, from time to time, designate In writing and forward t0 the other as provided In this Section. SEC. 8. SPECIAL PROVISIONS. This conveyance is subject to all the terms and conditions of the Declaration of Restrictbns for the Stillwater Park Project, Me. R-4, recorded in Penotscot Registry of Deeds, Vol 24, Page 1-9 SEC. 9. MODIFICATION OF PART II. The following amendments and modifications ate hereby eetle In the terms, covenants, and conditions Devoting Part II hereof: SEC. 10. COUNTERPARTS. The Agreement is executed in three (3) counterparts, each of which shall constitute one and the sam Imtnment. IN WITNESS WHEREOF, the Agency has caused the Agreement to be duly executed In its name and behalf by its Executive Director and its seal to be hereunto duly affixed and attested by its Fypcirtive Director , and the Redeveloper has caused the Agreement to be -6- duly executed in its Goma and behalf by its President and its corporate seal to be hevennto duly affixed and attested by its Sea Cary, on or of the day first about vrlttan. � p Q #(RA eve toperer ) By Attest: (President) (Secretary) In City Council Attest: &treat (secretary) A True Copy, Attest: 4. Council Order No. (City Clerk) (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 Urban Renewal Project, Me. R-4 Disposition Parcels 40, 41, 42 subject to the following covenants restrictions and easements: (if none, so state) Subject to telephone easements at rear of properties further obligations of the Agency And the Redeveloper: