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HomeMy WebLinkAbout1966-11-28 25-U ORDER254 Introduced by Councilor Houston, Nov. 28, 1966 CITY OF BANGOR (TITLEJ @rj�r¢rp Auth isigg City.Treasurserco.Exacute option to purchase Real estate in favor of the Urban Renewal Authority of the City of Bangor By the City Counai6 of the OUR ofBumpor. ORDERED, THAT the City Treasurer be and is hereby authorized to execute the attached option to purchase real estate and deliver same to the Urban Renewal Authority of the City of Bangor upon receipt of payment of $1.00. ,7! I:66 KU 23 ! 4: 37 CITY CLERR'S OFFICE IN CITY COUNCIL Nov. 29, 1966 Pam CI .NEAR ORDER Title, 25-U Authorizing City Treasurer to execute Option to Purchase Real Estate in Favor ...................................... of the Urban Renewal Authority of the City of BtModuced and filed by Councilman Renduakeag Stream Urban Renewal City of Bangor Project No. Me. R -i Parcel No. Reassume r—ZT 196fi In consideration of the mum of one delver ($1.00) in hand to the undersigned paid, the receipt wheree,f the underel Sued hereby acknowledges, the undersigned, (herein- after called the 'Seller"), being the owner or onters thereof, hereby give to the URBAN RENEWAL, AUTHORITY OF SAE CITY OF BANGER, (herelmfter called the "Authority"), or its successors or assigns, the sole and exclusive option to purchase the Sol'iw]ng described real estate, together with the Buildings thereon and improvements, fixtures and appurtenances thereunto belonging, located in the City of Bangor, County of Penobscoty and State of Maine, v.a. See attached description. for the but of One Dollars ($ 1.00 ), subject to the following terms end conditions, 1. EXERCISE OF OPTIONS This option shall be irrevocable for a period of ninety (90) days from the date hereof and shall remain in farce thereafter until terminated by the Seller. Such termination may be effected at any time after the expiration of such 90. day period by Seller, giving sixty (60) days prior written notice to the Authority of such termination. This option may be exercised by the Authority, its successors or assigns, by mailing notice thereof, by certified mail, to the Seller at the address herelmfter given or by delivering notice, in hand, to the Seller, to be recefpted (in elther case) and, if more than one person constitutes the Seller, by any of Such persona and, upon such mailing or such personal delivery, this option shall become e entreat for the Sale of the above-described peerless by the Seller to the Authority, oritslsuc essors o asadngs, et the price herein set forth and upon the fares and ons 2. NOTICE OF CLOSINGS If this option is exercised, notice of the time and place of closing rthe time of such closing to be in or within sixty (60) Saye from the mailing r delivery of notice of exercise of this option) shall be rolled by ordinary melt o delivered, in hand, to the Seiler or, if more than ave person constitutes the Sellet, to the person to whom notice of exercise hereof was mailed or delivered. S. PURCHASE PRICE$ The purchase price herein set forth shall be paid upon the delivery of theIn—cash or by check of the Authmlty, its successors or assigns, drawn to the order of the Seller. If this option is ex raised, than the above aur of one dollar (51.00) $hell be deducted true the aforesaid purchase price. The Authority reserves the right to draw a werles of checks payable to the Seller, Seller's mortgagee, City of Bangor, or other party in interest in order to provide for the satisfaction of any outstanding interests, including taxes. 4. SELLER'S DBEDf Upon closing, the Seller shall convey to the Authority, its assigns, by Warranty Dead satisfactory to the attorney for the Authority withr the usual covenants therein, and with all rights of descent properly released, a goad and marketable fee simple title thereto, together with all Improvements, hereditaments, and appurtenances thereunto belonging, free and clear of all liens, easements, leasee, end encumbrances of any kind, together with all the Seller's right, title and interest in and to any streets, way or alleys adjoining or abutting thereon. OPTION 10 PURCHASE REAL ESTATE Renduakeag Stream Urban Renewal City of Bangor Project No. Me. R -i Parcel No. Reassume r—ZT 196fi In consideration of the mum of one delver ($1.00) in hand to the undersigned paid, the receipt wheree,f the underel Sued hereby acknowledges, the undersigned, (herein- after called the 'Seller"), being the owner or onters thereof, hereby give to the URBAN RENEWAL, AUTHORITY OF SAE CITY OF BANGER, (herelmfter called the "Authority"), or its successors or assigns, the sole and exclusive option to purchase the Sol'iw]ng described real estate, together with the Buildings thereon and improvements, fixtures and appurtenances thereunto belonging, located in the City of Bangor, County of Penobscoty and State of Maine, v.a. See attached description. for the but of One Dollars ($ 1.00 ), subject to the following terms end conditions, 1. EXERCISE OF OPTIONS This option shall be irrevocable for a period of ninety (90) days from the date hereof and shall remain in farce thereafter until terminated by the Seller. Such termination may be effected at any time after the expiration of such 90. day period by Seller, giving sixty (60) days prior written notice to the Authority of such termination. This option may be exercised by the Authority, its successors or assigns, by mailing notice thereof, by certified mail, to the Seller at the address herelmfter given or by delivering notice, in hand, to the Seller, to be recefpted (in elther case) and, if more than one person constitutes the Seller, by any of Such persona and, upon such mailing or such personal delivery, this option shall become e entreat for the Sale of the above-described peerless by the Seller to the Authority, oritslsuc essors o asadngs, et the price herein set forth and upon the fares and ons 2. NOTICE OF CLOSINGS If this option is exercised, notice of the time and place of closing rthe time of such closing to be in or within sixty (60) Saye from the mailing r delivery of notice of exercise of this option) shall be rolled by ordinary melt o delivered, in hand, to the Seiler or, if more than ave person constitutes the Sellet, to the person to whom notice of exercise hereof was mailed or delivered. S. PURCHASE PRICE$ The purchase price herein set forth shall be paid upon the delivery of theIn—cash or by check of the Authmlty, its successors or assigns, drawn to the order of the Seller. If this option is ex raised, than the above aur of one dollar (51.00) $hell be deducted true the aforesaid purchase price. The Authority reserves the right to draw a werles of checks payable to the Seller, Seller's mortgagee, City of Bangor, or other party in interest in order to provide for the satisfaction of any outstanding interests, including taxes. 4. SELLER'S DBEDf Upon closing, the Seller shall convey to the Authority, its assigns, by Warranty Dead satisfactory to the attorney for the Authority withr the usual covenants therein, and with all rights of descent properly released, a goad and marketable fee simple title thereto, together with all Improvements, hereditaments, and appurtenances thereunto belonging, free and clear of all liens, easements, leasee, end encumbrances of any kind, together with all the Seller's right, title and interest in and to any streets, way or alleys adjoining or abutting thereon. OPTION To FDNCHASE REAL ESTATE Page Two Said deed shall be duly mecuted and acknowledged by the Seller and shall be delivered with all necessary revenue stamps thereto attached by Seller or at Seller's expense. If the Seller is a Corporation, it shall present at closing a duly certified copy of the minutes of a Directors' or Stockholders' meeting authorizing sale to the Authority and empowering an officer of the corporation to execute a dead to the Authority. All expenses of examination of title and of drafting and recording the deed shall be paid by the Authority. 5. CLEARING DEFECTS IN TITLE: All recording or filing fees in connection with the satisfaction or discharge of any mortgagee, encumbrances or liens against the promisee, or such prospective recording or filing fees shall be paid by the Seller or charged to Seller's closing account. 6. TAXES: At the time of closing, the Seller must provide evidence satisfactory to the Authority regarding the amount of tares due or assessed on the property. If the taxes for the current tax year have already been paid, the owner's account will be credited with a pro rate share of the taxes for the full year based upon that portion of the tax year which follows the date the property is acquired by the Authority. If Comes have not been paid, there will be deducted from the amount paid the Seller at settlement, any past due takes and the pro rate share of taxes due for the current fiscal year up to the date the property is acquired by the Authority. I. RENTAL OF PROPERTyi The Seller agrees that from this date forward, he will not rent uv copied property or any portion thereof n ant, and further, that he will not re -rent the property or any portion thereof once It is vacated by the family, individual, or business concern new occupying it. With regard to the property or any portion thereof which is rented to others, the Seller agrees that he shalt not collect rent for any part of the promisee for any period beyond the date on which the property is conveyed to the Authority, and that an equitable adjustment of the selling price shall be made for any Credits due to teapots for a rental payment made for the period after the date the property is acquired by the Authority. 8. RELOCATION PANKENTSi The Authority agrees that as of this date the Seller is eligible to receive reimbursement for the reasonable at of kis moving expenses in accordance with the rules and regulations governing the making of such payments adopted by the Authority. However, no relocation payment willbe made until the property is actually conveyed to the Authority. 9. APPORTIOWENTS9 The following are to be apportioned: (a) Water rates forthe quarter during which closing occurs. If there is a water meter n the premises, the Seller shall furnish a reading as of the date of closing. (b) Renta due Seller at time of acquisition as and when Collected. 10. POSSESSIONS Possession of said premises AM11 be delivered to the Authority by Seller Immediately at the time of closing. 11. RISK OF LOSSS Me risk of loss or damage to the property by fire or other casualty shall be upon and teassumed by the Seller until title and possession has been conveyed to the Authority. In the event of loss or damage by fire or other casualty, the Authority shell have the right to reduce the purchase price by an amount equivalent to the damage done to the property, and to conaumate the purchase of such property hereunder at men reduced purchase price. OPTION TO PURCHASE SEAL ESTATE Page Three 12. ELECTION BY AUTUORITYI Notwithstanding the prior exmnise of this option, the Autrity,1w lieu of completing the purchase of the Above described premises, may, at any time prior to closing, proceed to acquire the same by the exercise of the power of eminent domain. The Seller agrees Read assents to the taking of said premises by eminent domain, agrees and represents that the awn of the purchase price brain set forth 1s the fair market value of said preview, inclusive of every interest therein, agrees to accept the am of said purchase price in full satisfaction and discharge of any and all Awards and any and all claims and demands for damages, costs, expenses and compensation by reason of said taking, and agrees upon the payment of said sum to execute and deliver a satisfaction, discharge and release and all other proper instruments for the conveyarce of such title,. free and clear as aforesaid, and the accompllaionent of said satisfaction, discharge and release. in form Rod substance satisfactory to tie Authutlty. 13. FURTHER ENCUMBRANCES] The Seller agrees that this option Rod agreement shall not be 'rewcable Rod that he or they will not sell, mortgage, woumber, o otherwise dispose of said premises or any part thereof prior to said expiration date, except to the Authority. THIS AGREEMENT shall be binding upon the Seller and his heirs, exawters, administrators, successors and assigns. IN WITNESS WHEREOF, the parties hereto have set their hands Red awls the day and year first above written. Signed, sealed and delivered in the presence of: CITY OF BANGOR Witness Its Treasurer Witness City Fa11, ear... Baagot, Maine State of Maine County of Penobaoot, so. Favember 23 , 1966. Personally appeared the above named John C. Field, Treasurer of the City of Bangor and acknowledged the above instrument to be his free act and deed. in his said capacity, and the free act and deed of the City of Bangor. Before me, Justice of Puce Meta" Public Option to Purchase Real Estate Page Four MEMO She foregoing option negotiated by; Option approved. . by: sate Option eoerelseas- � by mailing by certified mail/ by delivering in band, notice to the Seller, on behalf of Urban Renevel Authority of the City of Bangor Apparent ovnen City of B.:ugur $1.00 pan certain lots or Parcels of lend, situate in the City of Bangor. County of Penobscot, and State of Maine, bounded and described as follows. Parcel Cam: Beginning at a paint in the north line of Water Street N 75° 581 20" 8, can hundred thirty -ane and thirty-five hundredths (131.35) feet from the intersection of the said north line of Water Street and the east line of Broad Street' the coordinates of which are based upon the Mine State Coordinate System, East Eooe: y (North) coordinate - 352.305.04, x (East) coordinate 429,838.57; thence Westerly along the said north line of Water Street 5 75° 58' 20" W, four (4) feet, more or less, to a paint on the cribvork line as established by layout and taking by the City Council of the City of Bangor, Council Order 0239N, passed flc lobar 9,1961; thence northerly by and along the said cribvork line existing on (amber 9, 1961, three hundred seventy -sin (3)6) feet, more or less, t0 a point; thence 5 12° 261 40" 8, three hundred seventy-five (375) feet to the print of beginning. Parcel Pact Beginning at a point on the south line of Water Street N 75° 580 20" E, one hundred thirty and twenty-four hundredths (130.24) feet from the intersection of the Said south line of Water Street and the east line of Broad Street, the coordinate@ of which are based upon the Maine State Coordinate System, East Zone, y (North) coordinate 352,265.96, x (East) oordinate 429,847.19; thence S 12° 26' 40" E, fifty-nine and eevs my -seven hundredth. (59.77) feet to a point; thence S ))0 33' 20" W, two andforty-three hundredths (2.43) feet to a point; thence 5 120 26' 40" E. forty-four and fifty-six hundredths (44.56) feet to a point; thence along a curve to the left having a radius of sixty-nine (69) feet, the coordinates of the center a said curve are based upon the Maine State Coordinate System, Best Zone: y (North) coordinate 352.155.05, x (bast) coordinate 429,935.81; a distance of twenty-six and nine hundredths (26.n9) feet to a paint; thence S 16° 22' 12- E. thirteen aid sixty-five hundredths (13.65) feet to the north line of Washington Street' thence westerly along the said north line of Washington Street S 75- 58' 20" W, one (1) foot more or less, to a point on the cribwork line as established by layout and taking by the City Council of the City of Bangor, Council Order R239N, passed October 9, 1961; thence northerly by and along said cribvork line as existing on October 9, 1961, one hundred forty-five (145) feet, more or less, to the Said south line of Water Street; thence easterly along the said south line of Nater Street N 75° 58' 20" E, three (3) feet, more or leas, to the point of beginning.