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HomeMy WebLinkAbout1967-04-24 134-U ORDER134-U Introduced by Councilor Brow, April 24, 1967 p' CITY OF BANGOR (TITLE.) (orbfiy...„Approving Proposed Conrad for. Sale of Land in the Stillwater Park Urban Renewal Project Parcel No 30 By the City Council of W City ofSkower: ORDERED, TEAT WHEREAS, the Urban Renewal Authority of the City of Bangor proposes to eater into a contract for the sale of parcel numbered 30 in the Stillwater Park Urban Renewal Project with Frank T. Persons ; and WHEREAS, the said PraNc T. Persons has offered to pay the a= of for said parcel , said price being the mint mm approved price for said parcel asestablished by the Urban Renewal Authority and approved by the Department of Housing and Urban Development( and WHEREAS under the provisions of Chapter 163 of the Private and Special Law of Maine, 1957, as amended, City Council approval of all contaete 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 with Frank T. Pq,,Qn. in the office of the City Clerk; NOW, THEREFORE, BE IT ORDERED; THAT the proposed contract on file with the City Clerk be and is hereby approved. 134-0 1967 APp tO r'-12:,8 ORDER � _BD. o OFFICE _- Yule, IN CITY COUNCIL April 24, 1969 PASSED Pareel No. 30 - 5tillwater Park UN ..................... Praha T. Parsons ...................................... Introduced and filed by ••• '� U •• Cowci STILLWATBR PARK PRWRCT PROJECT NO. KE. R-4 H -6209A (664) PART I of CONTRACT FOR SALE DP LAND FOR PRIVATE RRDBVRLOMNT (OFFER AND ACCEPTANCE) By and Ram" Urban Renawal Authority of the City of Bangor and PART I CONTENTS Section Page 1. Sate: Purchase Price p R. Conveyance of Property 3 3. Good Faith Deposit 3 4. Time fox C00mencement and Completion of Improvements 4 5. Time for Certain Other Actions 5 6. Period of Duration of Covenant on Cee 5 ). Notices and Demands 6 8. Special Provisions 6 9. Modifications of Pert II 6 10. Counterparts 6 CONTRACT FOR SALE OF LAND FOR PRIVATE REOEVELOPMENf AGREEMENT, consisting of this part I and Part II (Form H -6009B, 1-64) annexed hereto and made a part hereof (which Part I and Part II are together hereinafter called "Agreement"), made on or as of the tHa day of (Age , 19-0, by and between the Urban Renewal Authority of the City of Bangor, a public body corporate (which, together with any sue cess r public body or officer hereafter designated by ox pursuant to law, is hereinafter called "Agency"), established pursuant to Clasper 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 City Nall in the City of Bangor (hereinafter called "City"), State of Maine, and the xnampgmhimmr �RNki4±fia1Na3451ASNIH3WkWx't(1&txyllR" wimm iLIWtYi (hereinafter called 'Redeveloper") and having an office for the transaction of business at Haa.aan xtyhlar,da In the City of County ofaebaml , and State of t , WITNBSSETH:e WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency has undertaken a program for the clearance and reconstruction or rehabilitation of slow 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") 1n 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 Park Project, Me. R-4, Bangor, Holes' for which an Urban Renewal Plan, consisting of the Urban Renewal Plan, dated December 1, 1961, and approved by the City Council of the City on January 22, 1962, by Resolution No. 28-P, as amended July 1, 1964 and approved by the Co®isefoneTS of said Authority on July 21, 1964, by Resolution No. 135; as amended by Amendment No. 2 thereof dated February 10, 1965, and approved -1- by the Co®issioners 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 C®issfmners of said Authority on November 16, 1965, by Resolution No. 198, and is recorded in the Penobscot Registry of Deeds at Bangor, Maine, In Vol. ytjpg Page 3W WNSRGS, i9 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 redevelopeent by private enterprise for redevelopment for and in accordance with the uses specified in the Urban Renewal Plan, both 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 Grant dated October 11, 1962, In the case of the Federal Government and a Cooperation Agreement, dated February 20, 1962, in the case of the City, as mended; and WHEREAS, the Agency has offered to sell and the Redeveloper is willing to purchase certain real property located in the Project Area and rare particularly described in Schedule A annexed 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 nand WHEREAS, the Agency believes that the redevelopment of the Property pursuant to the Agreewent, and the fulfillment generally of the Agreement, are In the vital and best interests of the City and the health, safety, morals, and welfare of Its residents, and in accord with the public purposes and provisions of the applicable Federal, State, and local lave and 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 Nen, does hereby covenant and agree with the other as 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 Goes iPwaYMa iep N Dollars ($ gam. W ) 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. 2 SEC. 2. CONVEYANCE OF PROPERTY. (a) Form 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 addition to the condition subsequent provided for in Section 704 hereof, and to all other conditions, covenants, and restrictions set forth or referred to elsewbare in the Agreement be subject to the term, if any, set forth on said Schedule A, attached hereto. (b) Time and Place for Deliver of Deed, The Agency shall deliver the Deed and possession of the Property to the Redeveloper on 19A -L, or 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 Badeveloper shell 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, Heine. The Redeveloper shall pay ell costs (including the coat 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. SEC. 3. GOOD FAITH DEPOSIT. (a) Amount. The RedeveLoper has, prior to or simultaneously with the execution of the 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 Dee mardemd awed },fnkr Dollars ($ 1'XI.DD ), hereinafter called "Deposit", as security for the performance of the obligations of the Redeveloper to be Performed prior to the return of the Deposit to the Bedeveioper, 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 tc the Redeveloper. -3- (c) Application to Purchase Price. Upon written request of the Redeveloper, the amount of the Deposit, leads In cash or by certified check, shall be applied qn 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 such termination, or, if a surety bond, the proceeds thereof, shall be retained by the Agency as provided in Section 703 hereof. (e) Return to pedeveloper. 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: (I) A copy of the commitment or commitments obtained by the Redeveloper for the mortgage loan or leans 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; (ii) Evidence satisfactory to the Agency that the interim mortgage loan to assist in financing the construction of the Improvements has been initially closed; (1£i) 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 (iv) A copy of the contract bond provided by the general contractor in connection with the aforesaid conatructi on contract which bend shall be in a penal sum equal to not lees than ten percent (lob) of the contract price order said construction contract, certified by the Redeveloper to be a true and correct copy thereof. SEC. 4. TME FOR CQPffiNCENENT AND COMPLETION 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 Used, and, except as otherwise provided in the Agreement, shall be completed within eighteen (18) months after such Deed date. -4- SEC. 5. TIME FOR CERTAIN OTHER ACTIONS. (a) Time for Submission of Construction Plane. The time within Mich 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 from the date of this Agreement. (b) Time for Submission of Corrected Conatructlon Plane. Except as provided in Paragraph (c) of this Section 5, the time within Mich the Redeveloper shell submit any new or corrected Construe tion Plane as provided for in Section 301 hereof shall be not later than sixty (60) days after the date the Redeveloper receives written notice it= the Agency of the Agency's rejection 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 Plane Mich conform to the requirements of Section 30L hereof and ate approved by the Agency shall be not later then ninety (90) days after the date the Redeveloper receives written 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 change in the Construction Plane, as provided in Section 302 hereof, shall be forty-five i,45) days after the date of the Agency's receipt of notice of each change. (e) Time for Submission of Evidence of Equity Capital and MortxaRe Fes. 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 net later than thirty (30 ) days after the date of written notice to the Redeveloper of approval of the Construction Plana by the Agency, or, if the Construction Plane 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 Construction Place so deemed approved. SEC. 6. PERIOD OF DURATION 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 rhe Deed until January 22, 2022, the period specified or referred to in the Urban Renewal Plan, or until such date thereafter to Mich it may be extended by ?toper amendment of the -5- Urban Renewal Plan, or until such date thereafter to which it my be extended by proper amendment of the Urban general Plan. on which date, as the case way be, such covenant shall terminate. SEC. ]. NOTICES AND DOMRDS. A notice, demand, or other communication under the Agreement by either party to the other shall be sufficiently given or delivered it it is dispatched by registered or certified aail, postage prepaid, return receipt requested, or delivered personally, and (i) in the case of the Redeveloper, is addressed to or delivered Personally to the Redeveloper at fleWdan Magbl-Odo Wf,r and (ti) in the case of the Agency, is addressed to or delivered personally to the Agency at City Nail, Rargor, 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 to the crier as provided in this Section. SEC. S. SPECIAL PROVISIONS. SEC. 9. MODIFICATION OF PART Ii. The following amendments add modifications are hereby made In the teres;, covenants, and conditions forming Part II hereof: SRC. 10. COUNTERPARTS. The Agreement is executed in three (S) connterpatts, each of which shall constitute one and the same instrument. IN MINES$ WNSREOP, the Agency has caused the Agreement to be duly executed in its name and behalf by its EWwliw >Lpbaa and its seal to be hereunto duly affixed and attested by Its IaKwtiW Diaaator , and the Redeveloper has caused the Agreement to be -6- duly executed in its name and behalf by its President and its corporate seal tc be hereunto duly affixetl and attested by its Secretary, on or as of the day first above written. \/ (Redeveloper) Attest: (President) (secretary) Council Order No,� In City Council A True Copy. Attest: Attest: (City Clerk) (Agency) Attest: (Secretary) -7- SCHEDULE A Descpivticn cf Property All that certain parcel or parcels of Land located in the City of Bangor, County of Penctscot. State of t1aine, more particularly deecrlbed as fcl Lome. StlllNtai tlft VibO BMiaal Paaiaa<s W. g-1 ciyositlon Hent W Ler subject to the following c vemants restrictions and easements: (if none, so state) hestllatea to Lingle family housing