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HomeMy WebLinkAbout1968-01-22 52-V ORDER52-V Introduced by Councilor McKay, Jan. 22, 1966 kn , gip' y CITY OF BANGOR (TITLE) (&JeTf_-Approving Proposed Con(ract for.. Sale of Land, in the Stillwater Park Urban Renewal Project Parcel No 190 By the City County{ of No City ofBa*aer: ORDERED, TWT WHEREAS, the Urban Renewal Authority of the City of Bangor propoeem to enter Into a contract for the sale of parcel cambered 190 in the Stillwater Park Urban Renewal Ptoject with Leo F. Hamel ; and WHEREAS, the said Leo P. Hamel has offered to pay the sum of Seven Hundred Dollars ($)00.00) for said parcel said price being the minimm approved price for said "reel 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 Heine, 1957, as amended, City Council approval of all contracts for the sale of land within the project area is required( and tRERE.AS, the Urban Renewal Authority hes filed a copy of the proposed contract with Leo F. Hamel in the office of the City Clerk; NW, THEREFORE, BE IT ORDERED: THAT the proposed contract on file with the City Clerk be and is hereby approved. 52-V 1567 JAN 17 PX 3: 30 CITY CI -ERNS OFFICE 0 x n E R �.., q5 nn c,g0a,. N1'NEPffiq IN CITY COUNCIL Jam- 22, 1968Sale of Isnd is UN.Project - Parcel ................. PASSED ................................ CI EEK Introduced and filed by Counciinerr STILLWATER PARK PROJECT PROJECT NO. ME. R-4 HDD-6209A (4-66) ______________________•______•-------------- m -------m----------- PART I of CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT (OFFER AND ACCEPTANCE) Ey and Between Urban Renewal Authority of the City of Bangor and ^/ ,�aECFiVFw g19 — JAN5 196Be .7v �a'PCOR, M>�C yV PART I COMf@iTS Section P66C 1. Sale: Purchase Price 2 2. Conveyance of Property 3 3. Coad Faith Deposit 3 4. Time for Co®encement and Completion of laprovements 4 5. Time for Certain Other Actions 5 6. Period of Notation of Covenant on Use 5 ). Notices and Demands S S. Special Provisions S 9. Modifications of Part II S 10. Counterparts A CONTRACT FOR SALE OF LAND FOR PRIVATE REDEVELOPMENT AGREEMENT, consisting of this pert I and Part 11 (Farm H -6209B, 1-64) annexed hereto and made a part hereof (which Part 1 and Part IT are together hereinafter caned "Agreement'), made on or as of the S_WHday of 1966 , by and between the Urban Renewal Authority of the City of Banner , 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 Bud Special Laws of the State of Maine, 1957, as emended (hereinafter called 'Urban Renewal ACV") and having Its office at City Hall in the City of//Bangor (hereinafter called "City"), State of Maine, and the /v9. u!�_2 (hereinafter called "Redeveloper") and having an office for the transection of business at (/24 N in the City of L, /a County of and State of WITNESSETH: WHEREAS, in furtherance of the objectives of the Urban Renewal Act, the Agency hes undertaken a program for the clearance and reconstruction or me - habilitation of slum and blighted areas in the City, andin 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 (here- inafter called "Project Area") located in the City; and WHEREAS, in furtherance of the objectives of the Urban Renewal Authority Law, 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 s the "Stillwater Park Project, Me. R-4, Bangor, Maine " 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 amended July 1, 1964 and approved by the Commissioners;of said Authority on July 21, 1964, by Resolution No, 1}5; as a,ended by Amendment No. 2 thereof dated February 10, 1965, and approved -l- by the Commissioners of said Authority on March 23, 1965, by Resolution No. 166. The Urban Renewal Plan 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-T and was subsequently recorded in the Office of the City Clerk, located in City Hell, Bangor, Maine in Volume 24, Page 63 . WHEREAS, in order to enable the Agency to actleve the objectives of the Urban Renewal Plan and particularly to make the lend In the Project Area avail- able for redevelopment by private enterprise for redevelopment for and in accor- dance with the u specified in the Urban Renewal Flan, both the Federal Govern- ent 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, 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 real property located In the Project Area and more Pirtle- ularly described in Schedule A en erred 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 uses specified In the Urban Renewal Plan and in accordance with the Agreement; and WHEREAS, the Agency believes that the redevelopment of the Property put - Saint to the Agreement, 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 laws and requirements under which the Project has been undertaken and is being assisted: NOW, THEREFORE, in Consideration of the premises and the mutual obliga- tions of the parties hereto, each of them 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 Fropersy from the Agency and pay therefor, the amount of Q 17 Dollars ($ 2fdd_dd ), hereinafter Called "Purchase Price", to be paid in cast 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 shall convey to the Redeveloper title to the Property by darranty Deed (hereinafter Celled "Deeds). Such conveyance and title shall, in addition to the condition subsequent provided for in section 704 hereof, and to all other coaditiona, covenants, and restrictions set forth or referred to elsewhere in the Agreement, be subject to the terms, if any, set Each on said schedule A, attached hereto. .2- (b) Time and Place for Delivery of Deed. The Agency shall deliver the Deed and possession of the Property to the redeveloper on T'& / , ISLE, o such earlier date as the parties hereto may mutually agree in writings on 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) Apportionment of Current Tates. The portion of the current taxes, If any, on the Property which are a lien on the date of delivery of the Deed to the Redeveloper allocable tobutldings and other Improvements which have been demolished o ved from the Property by the Agency shall be home by the Agency, and the potion of such current taxes allocable to the land shell be apportioned between the Agency and the Redeveloper as of the date of the delivery of the Deed. If the amount of the current Cases on the Property is act ascertainable on such date, the apportionment between the Agency and the Redeveloper shall be on the basis of the mount of the moat recently ascer- tainable taxes on the Property, but such apportionment shall be subject to final adjustment within thirty (30) days after the date the actual amount of such Current taxes is ascertained. (d) Recordation of Deed. The Redeveloper shall promptly file the Deed for r coNation in the Penobscot Registry of Deeds at Bangor, Maine. The Redeveloper shall pay all costs (including the cost of the Federal documentary seamy tax on the Deed, for which stamps in the proper accent shall be affixed to the Deed by the Codeveloper) for so recording the Deed. (e) Further Obli eetions of The Agency and Re Redeveloper. See Schede ie A. SEC. 3. GOOD FAITH DEPOSIT. (a) Amount. The Redeveloper has, prior to or simultaneously with the execution of CheAgreement by the Agency, delivered to the Agency a good faith deposit of cash or n certified check satisfactory to the Agency in the amount of Se vc..>y Dol Idea is ), hereinafter Called "Deoosit^, a security for the perform of the obligations of the dcdeve[Oper to be perferned. prior to the return of the Deposit to the Redeveloper, or Its retention by the .Agency as liquidated damages, or its application oncunt of the Purchase Price, as the c 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 ore m Interest on the Deposit, bat 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 writtan request of the Redeveloper, the amount of the Oepaeit, ,Dade 1n cash or by certified check, shall be applied on 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 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 lose or loans to desist 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 t0 the Agency that the interim mortgage loan to assist in financing the construction of the Improvements has been initially closed; (111) A copy of the contract between the Redeveloper and the general Contractor for the construction of the Improvements, certified by the Redeveloper to be a true and correct copy thereof; AM (iv) A copy of the contract band 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 (103) of the contract price under said construction contract, certified by the Redeveloper t0 be a true and correct copy thereof. SEC. 4. TIME FOR CR MCEPSNT AND CM@LETION OF SMPROV&E:NT6. 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, shall be completed within eighteen (18) months after such Deed date. -4- SEC. 5. TIME FOR CERTAIN OTHER ACTIONS. (a) Time for Submission of Cons6ruction Plane. The time within which the Redeveloper shall submit its "Construction Plana" (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 (L20) days from 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 30L 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 Plans 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 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 free the Agency of the Agenev's first rejection of the original Construction Plana submitted to it by the Redeveloper. (d) Time for Aeene9 Action on Change in Construction Plana. 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 Finarclv$. The time within which the Redeveloper shall submit to the Agency, in any event, evidence as to equity capital and any cpmm£reent necessary for mortgage financing, as provided in Section 303 hereof, shall be not later than /4.� (Ze ) days after the date of written notice to the Redeveloper of approval of the Construction Plane 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 Plana so deemed approved. SEC. 6. PERIOD OF DURATION OF COVENANT ON USE. The covenant pertaining to the uses of the Property, set forth in Section 401 hereof, shall remain in effect it= the date of the Dead until January 22. 2022, the Period specified or referred to in the Urban RepewaL Plan, OV 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 many be extended by proper amendment of the Urban Renewal Plan. on which date, as the case may, be, such covenant shall terminate. SEC. ]. NOTICES AND DEIMNDS. A notice, demand, or other cOuesunicatloa 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, or delivered personally, and (1) in the case of the Redeveloper, 1s addressed to or delivered personally to the Redeveloper at and (11) in the case of the Agency, is addressed to or delivered Personally to the Agency at City fall, Bangor, 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 other as provided in this Section. SEC. S. RECTAL PROVISIONS. SEC. 9. MODIFICATION OF PART II. The following amendments and modifications; are hereby made In the terse, covenants, and conditions forming Part II hereof: SEC. 19. COUNTERPARTS. The Agreement is executed In three (3) counterparts, each of which shall constitute one and the save instrument. IN WITNESS WHEREOF, the Agency Meq fluxed the Agreement to be duly executed in its name and behalf by Its and Its seal to be hereunto duly affixed and attested by its f%s er. iioean. , and the Redeveloper has caused the Agreement to be -6- duly executed in its nems and behelf by its President and its corporate Seal to be hereunto duly affixed and attested by its Secvetaty, on or as of the day first above Witten. _.F hca-.-u-Q (Redeveloper) Attest:(President) (Secretary) Council Order No, In City Council A True Copy, Attest: Attest: !City Clerk) (Agency) Attest: (secretary) -7- SChedULG 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: subject to the following covenants restrictions and easements: (if non . as state) fu cher obli getions of the Agency and the Redeveloper: