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Home My WebLink About2007-04-19 07-146 ORDERAssignWin Councior Paiiirgtov April 19, 2007 CITY OF BANGOR CTTRE.) ORDER, Authorizing the City Manager to Execute an Agreement with CMI, Inc. and Thomas J. Valley and Michael Eremite — Hogan Road Extension sy me Ory eborsoraFmeaty ofamgon WHEREAS, the Official City Map of the Cry of Bangor included the Hogan Road Extension, so-olled; and WHEREAS, CMI, Inc. and Thomas J. Valley and Michael Eremga are the owners of the underlying fee to a portion of the Hogan Road Extension; and WHEREAS, the City and CMI, Inc. and Thomas J. Valley and Michael Eremite have negotiated an agreement for the acquisition by the City of said property. NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT the City Manager Is hereby authorized to execute, on behalf of the City of Bangor, an Agreement with CMI, Inc. and Thomas J. Valley and Michael Eremite In a final form as approved by the City Solicitor or Assistant Cry Solicitor. Said Agreement shall Include the rollwing: 1) CMI, Inc. and Thomas J. Valley and Michael Emmita will convey to the City lots of pascals of land more particularly described In Exhibit A attached hereto. 2) CMI, Inc. and Thomas J. Valley and Michael Eremlta will pay to the City the sum of $75,000 as partial payment of the cost of the City's acquisition of the lot or parcel of land from Bangor Inn Associates required for the Hogan Road Extension. 3) CMI, Inc. and Thomas J. Valley and Michael Eremite will deliver to the City executed deeds conveying the aforementioned lots or panels of land W the CIry upon the execution of the Agreement to be held in escrow pending the closing on the Cly's acquisition of the aforementioned lot or parcel of land of Bangor Inn Associates at which time the deeds from CMI.Inc. antl Thomas J. Valley and Michael Eremite shall be recorded In the Penobscot County Registry of feeds. 4) CMI, Inc. and Thomas J. Valley and Michael Emmita will pay to the Ory the aforementioned $75,000 on the date that Cly and Bangor Inn Associates close on the acquisition by the City of the aforementioned land of Bangor Inn Associates. 5) The Agreement shall be executed and deeds delivered to the Cry on or before noon of April 23, 2007, IN CITY C CIL April 19, 2007 Notion Made and gecomeea forsage 45 as tips mm 0 R D R R (rTTLE.)Authorixiu9 tfie City Manager to Execute an Agreement with W. Inc. 'and. Thomas ]. Valley and Michael Eremite - msftv Assigned b Coundlor 07-146 CONTRACT FOR SALE OF REAL ESTATE The undersigned City of Bangor a municipal corporation, duly organized and existing under and by vimte of the laws of the state of Maine, and having its Principal offices at 73 Harlow Street, Bangor, Maine (Buyer), hereby oBeas to purchase from Bangor him Associates, a Maine limited partnership, having principal place of business in Portland, Cumbertand County, Maine, a certain lot or parcel of land, together with any improvements thereon, situated in Bangor, Penobscot County, Maine, as more particularly described in Exhibit A, attached hereto and inwrporeted by reference herein, and being a portion of the premises described in a dad firm BEV, Ine., on Bangor hen Associates, dated August 31, 1988, and recorded in the Penobscot County Registry of Deeds in Book 4299, Page 273; and the deed from Thomas J. Valley and Michael Eremite, Trustees of the CMI, Inc. Pension Plan, dazed August 31, 1988, and recorded in Book 4299, Page 277 in said Registry. Consideration is as follows: a.) $150,000 Payable at closing to Seller, b.) The parties acbrowledge that the premises to be conveyed to Buyer is for the Hogan Road Extension right-of-way and that Buyer is to construct a new driveway to Seller's business located adjacent to the premises the Hagan Road Extension when it is constructed. Seller and Buyer shall discuss and agree upon the exact location of the new driveway prior to its construction, consistent with that as previously discussed by the patties. Throughout the construction period buyer shall insure that Seller shall az all times have clear, continuous and unimpeded access from its property tothe public roadway in all ways siistactory to seller. Present access from Seller's property shall not be discontinued until candmition of the new driveway is complete in all ways satisfactoryon Seller, c.) Buyer is to replace any plantings disturbed by the construction of the Hogan Road Extension. d.) Buyer and Seller will negotiate and agree upon an msement to the Seller within the Hagan Road Extension right -of way if an easement is necessary for Seller to meet setback or buffer requirements or to maintain curent Plantings. e) The obligations set forth order b, c and d above survive the closing of the transaction. $0.00 is the DEPOSIT in U.S. Dollars paid herewith and is to be applied to the purchase price at closing said closing to be at the offices of the Buyer az 73 Harlow Straq Bangor, Maine 04401. THE DEPOSIT IS RECEIVED AND HELD EXPRESSLY SUBJECT TO THE FOLLOWING CONDITIONS: 1. SETTLEMENTITITLE: It is agreed that this transection shall be closed and the Buyer shall pay the balance due and execute all papers necessary for the completion of fire purchase on or before 4:30 P.M. April 24, 2007, orless otherwise agreed to, in writing, by both Parties. A quitclaim dad with covesaru conveying good and merchantable title, fres and clear of all encumbrances, except normal public utilities, building and zoning astrictions of termed, and restrictive covenants ofrecmd shall be delivered to the Buyer or mmminee at closing The closing shall be at Bangor City Hall, 73 Harlow Street, Burger, Maine If the Seller shall be unable to convey or deliver possession in accordance with the provisions of this Confined, or make the premises conform with the provisions hereunder, then the Sella shall have a reasonable time period, not to exceed 30 days to cure any title defect, unless otherwise agreed by both parties in writing. The Seller hereby agrees to use best efforts to cure any such title defect during such period. 2. SETTLEMENTCOSTS. Buyer shall pay for the preparation ofthe dead snit the declaration of value. Seller shall pay for the preparation and recording fees for the removal of my cocwnbrances against the property. Buyer shall pay for the continuation of my existing abstract offitle. Each party shall pay their share of the State of Maine Transfer Tax. The following items shall be prorated as of the date of closing: A. Real Estate Taxes 3. POSSESSION: Seller shall deliver to Buy" Possession of said premises immediately upon minister, free of my resume and occupants. The premises shall be than in substantially the same condition as atpresdrL Buyer shall have the option to inspect the property prior to closing. The risk of loss or damage to said premises unfit closing is upon the Seller. d. DEFAULT: If the Buy" fails to make any payments or to perform any of the agreements on its pare made or entered into, this Contract shall, at the option of the Seller be terminated, and the Buyer shall forted avid earnest money deposit 5. INSPECTIONS: The Buyer is encouraged to seek information from professionals regarding any sp"ific issue or concern. TheSella makes no warranties regarding the condition, permitted use or value of the Sellers real property. 6. OTHER CONDITIONS 1. Sena shall provide Buyer with any existing fide work on the position. THIS CONTRACT is binding upon the parties hereto, and their resppeective heirs, personal representatives, successors and assigns. If Us CONTRACT is not Hilly understood, parties should consuh an ATTORNEY. This Comma constitutes the entire agreement between the parties hereto,there are an promises in verbal understandings not clearly specified in it Theme of the singular includes the plural and the use of any geMer includes the other. BY THEIR SIGNATURES HERETO RECEIPT OF A COPY OF THIS CONTRACT IS ACKNOWLEDGED BY ALL PARTIES. Buyer, having inspected the property and its appurtenances, hereby offers and agrees to purchase the property at the price and upon the terms and conditions ad forth. Dated this day of 2007 at Bangor, Maine. CITY OF BANGOR (Buyer) Winona nCVVnPl A. bona City Manager The Sella hereby accept the oBa and agrees to deliver fbe propeny at the price and upon the teams and conditions stated above Siared this davof , 2009 at . Maine. BANGOR INN ASSOCIATES, a Maine lismus! partnership, By: Oxford Inn Associates, a gmeal pannenhip, Sole General Panner BY: Mirimar Properties, Inc., its Partner Witness Linwood N. Austin, It's President