HomeMy WebLinkAbout1967-04-24 133-U ORDER133-8
n by Councilor Baru, 1 4,19a,
CITYOFBANGOR
(TITLE) (orbert--,Approving Proposed Coapract for.,. Sale of Land the Stillwater
Urban Renewal Project Parcel No 193, 194, 200. 201
By the GYty COUMCQ of the City OfBanpor:
ORDERED,
THAT WHEREAS, the Urban Renewed Authority of the City of Bangor propose@
to enter into a contract for the sale of parceB mmberedlet 191 r-�Son PM
in the Stillwater Park Urban Renewal Project with7.4+. 0 Vnl l.a Tnr_
, and
WHEREAS, the said Eremita & Valley. Inc.
has offered to pay the elm of Three thoueaM five hundred dollars
for said parcels , said price being the minims approved price for said parceb
as established by the Urban Renewal Authority find approved by the Uepertment of
Housing and Urban Development; and
WHEREAS under the provisions of Chapter LSg of the Private am
Special Laws of Maine, 1957, as amended, City Council approval of all contracts
for the sale of land within the project area is requited; am
WIU:REAS, the Urban Renewal Authority has filed a copy of the
proposed contract with v,nm:kq & valley. Ing. in the office of the City Clark;
NOW, THEREFORE, BE IT CREME:
THAT the proposed contract on file with the City Clerk be and
is hereby approved.
133-U
Isb7 t'rVAj W 29
ORDER
CF,F Title,
Parcel No. 193, 194, 200, 201
IN CITY COUNCIL •••• ......................••.........•
April 24, 1969
PASSED Stillwater UR
Park Pxo ect
....................... �..............
n
ciERrc doted and ed by
cl -- "
STILLNATER PARR PROJECT
PROJECT NO. M. R-4 R -6109A
fl -64)
PART I
of
CONTRACT TOR
BALE OF LAND FOR PRIVATE REDEVELOPMENT
(OFFER AND ACCEPTANCE)
By and NAtyeen
Urban Renaral Authority of the City of Bangor
and
FRF T1 R VCTM TMC
PART I
CONTENTS
Section Page
1. Se Le: Purchase Price 2
2. Conveyance of Property 3
3. Good Faith Deposit 3
4. Time for Co®encement and Completion of improvements 4
5. TLee for Certain Other Actions 5
6. Period of Duration of Covenant on Use 5
). Notices and Demands 6
B. SpeciaL Provisions 6
9. Modifications of Part II 6
10. Counterparts 6
CONTRACT FOR
SALE OF LAND FOR PRIVATE REGEVBLOPEK T
AGREEMENT, consisting of this part I and Part LI (Form H -6209B, 1-64)
annexed hereto and made a part hereof (which Part I and Part I1 are together
hereinafter celled "Agreement"), made on or as of the M _ day of
Pebmaw , 1%2—, by and between the Urban Renewal Authority of
the City of Baneor, 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 Chaper 168 of the Private
and Special Laws of the State of Maine, 1957, as emended (hereinafter called
"Urban Renewal Act") and having its office at CIry Hall in the City of Bangor
(hereinafter called 'City"), State of Maine, and the
Erealta & Vallee. T_nccorporation
organized and existing under the laws of the State of
(hereinafter called "Redeveloper") and having an office for the transaction
of business at
fn the City of Brewer , County of Panpbaeot ,
and State of Madim WITNESSETH:
WHEREAS, In furtherance of the objectives of the Urban Renewal Act,
the Agency has undertaken a program for the clearance add reconstruction or
rehabilitation of sLum and blighted areae In the City. and In this connection
is engaged in carrying out an urban renewal project known as the "Stillwater
Park Urban Renewal Project' (hereinafter called "Project") In an area
(hereinafter called "Project Area") located in the City; and
WHEREAS, in furtherance of the objectives of the Urban Renewal Authority
Law, Chaper 168 of the Private and Special Laws of Maine, 1957, and all sets
amendatory thereto, the Agency is carrying out an urban renewal project known
as the "Stillwater Perk Project, Me. R-4, Bangor, Ma"I for which an Urban
Renewal Plan, consisting of the Urban Renewal Plan, dated December 7, 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 Co®iasiopera Of said Authority
on July 21, 1964, by Resolution No. 135; as amended by Amendment No. 2
thereof dated February 10, 1965, and approved
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by the Covaisalaners of said Authority on March 23, 1965, by Resolution No.
166, as amended by Amendment No. 3 thereof dated August 2, 1965, and approved
by the Commissioners of said Authority on November 16, 1965, by Reso_utlan
No. 198, and is recorded in the Penobscot Registry of Deeds at Bango-, Maine,
in vol. 2D63 Page 369.-I
GREPE4S, 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
available for redevelopment by private enterprise for redevelopment for and
in accordance with the use specified in the Urban Renewal Plan, boti the
Federal Government and the City have undertaken to provide and have provided
substantial aid and assistance to the Agency through a Contract for Loan and
Capital Great dated Uctober 11, 1962, in the case of the Federal Government
and a Cooperation Agreement, dated February 20, 1962. in the case of the City,
as awarded: and
WID3MS, the Agency has offered to sell and the Redeveloper is
willing to purchase certain real property located in the Project Area and
more particularly described in Schedule A aroused 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
m
in the Urban Renewal Plan and in accordance with the Agreeent e and
WHEREAS. the Agency believes that the redevelopment of the Property
Pursuant to the Agreement, and the fulfillment generally of the Agreement,
are in the vital and beet interests of the City and the health, safety,
morale, and welfare of Its residents, and in accord with the public Purposes
and provisions of the applicable Federal, State, and local lave end
requirements under which the Project has been undertaken and is being assisted:
NOW, THEREFORE, in consideration of the premises and the mutual
obligations of the parties hereto, each of th® does hereby covenant and
agree with the other an follows:
SEC. 1. SALE: 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
Rhree thousand five huvtlrvd Dollars (43.500.00 ),
hereinafter called 'Purchase Price", to be paid in cash or by certified
check efmultaneouslY with the delivery of the deed conveying the Property to
the Redeveloper.
•2.
SEC. 2. COHMANCE IF PROPERTY.
(a) Porn of Deed. The Agency shall convey to the Redeveloper title to
the Property by Warranty Deed (hereinafter called 'Deed'). Such conveyance and
title shall, in ad41tion to the condition subsequent provided for 1i Section 704
hereof, and to all other conditions, covenants, and restrictions set forth or
referred to elsewhere in the Agreement, be subject to the terms, if any, set
forth on said Schedule A. attached hereto.
(b) Time and Place for Dellverx of Deed. Me Agency shall deliver the
Deed and possession of the Property to the Redeveloper o dune 1 ,
1967__,r on such earlier date as the parties hereto may mutually 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) Recordation of Deed. The Agency may or the Redeveloper shall
promptly file the Deed for recordation in the Penobscot Registry of Deeds at
Bangor, Maine. The Redeveloper shall pay all Costs (including the coat of the
Federal documentary stamp tax on the Deed, for which stamps in the proper
amount shell be affixed to the Deed by the Redeveloper) for ea recording
the Deed.
SEC. 3. GOOD FAITH DEPOSIT.
(a) Amount. The Redeveloper has, prior to or simultaneously with
the execution of the Agreement by the Unary, delivered to the Agency a good
faith deposit of cash or a certified check satisfactory to the Agency in the
amount of Throe hundred and fifty Dollars
(9 150-00 ), hereinafter called "Deposit", as security
for the perform neq 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 on account of the
Purchase Price, as the case may be, in accordance with the Agreement. 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 no obligation to pay or earn
Interest on the Deposit, but if interest is payable thereon such interest
when received by the Agency shall be promptly paid to the Redeveloper.
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(c) Application to Purchase Price. Upon written request of the
Redeveloper, the amount of the Deposit, evade in 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 bonds or similar obligations
of the United States, including all interest payable thereon after Both
termination, or, if a surety bond, the proceeds thereof, shall be retained
by the Agency as provided in Scott= 703 hereof.
(e) Return to Redeveloper. Upon termination of the Agreement as
provided In Section 702 hereof, the Deposit shall be retuned to the Redeveloper
by the Agency as provided In Section 702 hereof. If the Agreement shall not
have been terminated as to Section 702 or 703 hereof provided, the Agency
shall return the Deposit to the Redeveloper upon receipt by the Agency of
the following:
(I) 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 (m defined 1n Section 301 hereof),
certified by the Redeveloper to be a true and correct oopy or
copies thereof;
(It) Evidence satisfactory to the Agency that the Interim mortgage
loan to assist in financing the construction of the Improvements
has been Initially closed;
(FSI) A copy of the contract between the %developer and the general
contractor for the Construction Of the Improvements, certified
by the Redeveloper to be a true and correct copy thereof} and
(tv) A copy of the contract bond provided by the general contractor
in Connection with the aforesaid constriction contract which
bond shall be 1n a penal sum equal to net lees than ten percent
(10%) of the contract price under said construction contract,
certified by the Redeveloper to be a true and correct copy thereof.
SBC. 4. TIME FOR COMMENCEMST AIN CCMIPLFTIOP' of IMPROV SWS.
The construction of the Improvements referred to In Sectioa 301 hereof
shall be converted in any event within six (6) monthe after the date of the
Geed, and, except as otherwise provided in the Agreement, shall be completed
within eighteen (18) macho after such Deed date.
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SRC. 5. TIME FOR CERTAIN OTHER ACTIONS,
(a) Time for Submission of Construction Plans. The time within which
the Redeveloper spall submit its "Construction Plans" (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 Plans. Except ae
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.
rejection of the Construction Plane referred to in tie latest such notice.
(c) Maximum Tim for Approved Construction Plane. In any event, the
time within which the Redeveloper shall submit Construction Plane 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 Agency Action on 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 Equity 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
mortgagefinancing, as provided In Section 303 hereof, shall be not later than
ihlrrLy ( 30 ) days after the date of written notice to the Redevelopet
of approval of the Construction Plane by the Agency, or, If the Construction
Plane shell be deemed to have been approved an provided In Section 301 hereof,
after the expiration of thirty (30) days following the date of receipt by the
Agency of the Construction Plana so deemed approved.
SEC, 6. PERIOD OF OUMTTON OF COVENANT ON USE.
The covenant pertaining to the uses of the Property, eat forth in Section
401 hereof, shall remain In effect from the date of --be Deed until January 22,
2022, the period specified or referred to in the Urban RepowaL Plan, or until
such date thereafter to which it may be extended by proper amendment of the
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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 ®v
be, such covenant shall terminate.
SEC. ]. NOTICES AND DEMANDS.
A notice. demand, or other communication uMer the Agreement by either
party to the other shall be sufficiently given or delivered if it to di ratched
by registered or certified mail, postage prepaid, return receipt requested, or
delivered personally, and
(1) In the case of the Redeveloper, is addressed to Or delivered
personally to the Redeveloper at
39.43 Brosdlawn Driew
Brewer, Baine , and
(ii) in the case of the Agency, is addressed to or delivered
personally to the Agency at City Nall, Bangor, Maine
or at such other address with respect to either such party as that party way,
from time to floe, designate in writing and forward to the other as provided
In this Section.
SEC. S. SPECIAL PROVISIONS.
SEC. 9. MODIFICATION OF PART II.
The following amendments and modifications are hereby made in the terve,
covenants, and conditions forming Part II hereof:
SEC. 10. COUNTERPARTS.
The Agreement is executed 1n three (3) cow erparts, each of Which shall
constitute one and the same instrument.
IN WITNESS NUDISM, the Agency has caused the Agreement to be duly
executed in its news and behalf by its,aive
and Its seal to be hereunto duly affixed entw A
d attested by its
gaseaSteve nirecto. , and the Redeveloper has caused the Agreement to be
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duly executed In its name and behalf by its Preeldmt and its corporate seal to be
hereunto duly affixed and attested by its Secretary, on or as of the day first
above Written. �pp
bRu,ra'zil�a,Gl fid.
evil
Toe f
Attest (President)
(Secretary)
In Cloy Council
Attest:
Attest:
(Secretary)
A True Copy, Attest:
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Council Order No,_
(City Clark)
(Agency)
SCHMW E 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 fallow:
Stillwter Fara Urban Aenaaal Projmt Mg. M-4
Dispo41t1on Parcels 197, 194. 2CC3 201
subject to the follom(ng covenants restrictions and easements:
(if nom, so state)
Mestrioted to singleafamily homing