HomeMy WebLinkAbout2012-09-10 12-300 ORDERCOUNCIL ACTION
Item No. 12-
Date: September 10, 2012
Item/Subject: Order, Authorizing Execution of Release of Reverter and Right of Reentry and
Certificate of Completion - Camden National Bank
Responsible Department: Legal
Commentary:
In 1994 the City of Bangor conveyed property on Exchange Street to Unitedcorp for a
development. The deeds of conveyance included certain conditions and restrictions for the
development and a provision for a release if all of the terms were met and the developer
complied with all terms. However, a release was not given by the City. The property is now
owned by Camden National Bank and they recently discovered this oversight.
This Order, if approved, will authorize the City Manager to execute a Release of Reverter and
Right of Reentry and Certificate of Completion to the Camden National Bank.
Department Head
Manager's Comments:
City Manager
Associated Information:
Budget Approval:
fG Finance Director
Legal Approval:
City Solicitor
Introduced for
Passage
First Reading
Referral
Page , of
12-300
SEPTEMBER 10, 2012
�. Assigned to Councilor Sprague
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CITY OF BANGOR
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9p0 9,ry
�R4iED. Ff �'
(TITLE.) ORDER, Authorizing Execution of Release of Reverter and Right of Reentry and
Certificate of Completion - Camden National Bank
WHEREAS, in 1994 the City of Bangor conveyed property on Exchange Street to Unitedcorp for
a development; and
WHEREAS, the deeds of conveyance included certain conditions and restrictions for the
development and a provision for a release if all of the terms were met; and
WHEREAS, the developer complied with all terms; and
WHEREAS, a release was not given by the City; and
WHEREAS, a recent title search for the current property owner, Camden National Bank,
discovered this oversight.
By the City Council of the City of Bangor.
ORDERED,
That Catherine M. Conlow, City Manager, is authorized by the Bangor City Council, on behalf of
the citizens of the City of Bangor, to execute a Release of Reverter and Right of Reentry and
Certificate of Completion to the Camden National Bank. Said Release shall be substantially in
the form attached hereto and in a final form as approved by the City Solicitor or Assistant City
Solicitor.
September 10, 2012
sed
CI CLERK
aoliounoo o; pou6issd
C3,111.)
A 'D 8161-I O- F Rl;-i.NTRY
AND CERTIFICATION 01"C'C.?i19,i'J.,l•AJON
For consideration paid, the City of [langur. a Maine municipal corporation with a place
of Business al 73 f farlmv Street, Bangor, Maine, hereby releases to Camden National [lank, a
fiedcrally-chartered savings hank, successor by merger to Unitedcorp.. with a place of business at
I•:Im `°;ireet, Camden. Maine. all of the reversionary interests. rights of reversion, rights to
retest title. and rights ot're-entry for breach ofcondition subsequent contained in the Municipal
Qm(claim Deed front the City ot' llangor to Unitedcorp. dated March 17, 1994. and recorded in
t11e Penobscot Counly Registry of Heeds in look 5581, Page 81, and in the Nfunic.ipal Quitcictint
Deed from the t"ity. of Bangor to I )nitcdcorp. dated March 17, 1994, and recorded in the
Penobscot County Registry ol'Dceds in Rook 5584. Page 88 (together. the "Deeds-).
The City cif flangror also hereby certifies file completion of the improvements on the lands
descrihed in the Deeds in compliance.: Avith the conditions, covenants and restrictions contained in
the Deeds.
fir WiLlICSS whereol. City ol'Bangor has caused this instrument to he executed this
day of Awgust. 2012, by Catherine Conlow. its duly -authorized City Manager.
witness City of Bangor
:hate ofN1.1i1le
County of, Pciloliscot
By: _
C'at.her•ine^Conlow
.Its duly -authorized City Manager
Aufust _ _ ..., 2012
Personally appeared before me the above-named Catherine C'onlow, City Manager ofth
C'i€y ol' Banoor, Maine as aftlresaid, and ac:knovtiledtued the foregoing to be her free act and deal
irr s,rid capacity rind the free act and decd of'said municipal corporation.
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Nolary Public
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