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HomeMy WebLinkAbout2004-08-23 04-268 ORDERItem NO. 06-268 Date: August 23, 2000 Item/Subject: ORDER: Accepting an offer from Norman S. Bouchard 8 Diann W. Bouchard to purchase Lot 16 In the BanAir Industrial Palk for $21,000. Responsible Department Economic Development Comments": Norman S. Bouchard & Diann W. Bouchard have made an offer to purchase Lot 18 in the BanAlr Industrial Park for $21,000. The Council previously passed a similar order on June 28, 2004 (Onier 04-211, but the conditions of sale were not met within the offer period. The Board of Directors of the BanAir Corporation recommends the sale of the property with conditions. See attached memo. Department Head M angoes Comments: A..Sve cL'Ans9"a$ 4a BALt Ven W41UAIr sR""� ,o.tf �n r,Pe.,.Q i'rw asp,. 'Mco-dn wRp'�.�e".P�oayslG' City Manager Associated InforrnaNn0 Budget Approval: WOR Legal Approval: liatar In for Passage _ First Reading Page_ of Referral Asaigmdro Couscilor Perrivgt® Mature 23. 20" CITY OF BANGOR (MLE.) Order, Authorizing the sale of a Lot 16 in the BanAn Indushlal Park w Norman S. Bouchard and Diarm W. Bouchard WHEREAS, the City of Bangor owns land in BanAir Industrial Park, Hammond Street, Bangor, Maine; and WHEREAS, Norman S. Bouchard and Diann W. Bouchard have offered m purchase Lot 16 in the BanAlr Industrial Park to contract a commercial building; NOW THEREFORE BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THATtbe City Manager is hereby authorized, on behalf of the City of Bangor, to eascute a Contract For Sale of Real Estate and any other related documents with Norman S. Bouchard and Diarm W. Bouchard for Lot 16 in the BanAir Industrial Park in a farm approved by the City Solicitor or Assistant City Solicitor and substantially the same as attached hereto. m CITY C009 August 23, 2006 Motion Made and securmed for Passage Passed Cx ex& M 06-268 0 R D E (rITLE,) A"thoriziag the Saxe of Lot 16 iu the Hoahard ead Diem M. Bouchard o 'gap11 tle[N s.]:i-Ye� xly:1ya 3-Y�e� q The undersigned Norman S. Bouchard and Diann W. Bouchard (BUYERS) of Bangor, Maine hereby offer to purchase from Me City of Bangor (SELLER) the real estate in its present physical condition with all improvements thereon, located at Lot 16 in BanAir Industrial Park, City of Bangor, County of Penobscot, State of Maine, and generally described as follows: Lot No. 16 in BanAir Industrial Park, so-called, as depicted on the Subdivision Plan dated June 17, 1997, titled "Final Subdivision Plan of BamAir Industrial Park- Phase 2" and recerded in Penobscot County Registry of Deeds Map File 1997-48. Purchase price is $21,000. $1,000 is the DEPOSIT in U.S. Dollars to be applied to the purchase free at closing. The deposit has been paid to Prudential Northeast Properties who shall hold said deposit and ad as escrow agent until closing. The balance of the purchase price is to be paid in full at closing as follows: CASH AT CLOSING. THE DEPOSIT IS RECEIVED AND HELD EXPRESSLY SUBJECT TO THE FOLLOWING CONDITIONS: 1. SETTLEMENTITITLE: It is agreed that this transaction shall be closed and the Buyers shall pay the balance due and execute all papers necessary for the completion of the purchase an or before 4:30 P.M. September 30. 2004, unless otherwise agreed to, in writing, by bath parties. A quitclaim tleetl conveying good and merchantable title, free and clear of all encumbrances, except normal public utilities, building and zoning restrictions of retard, and restrictive covenants of record shall be delivered to the Buyers or nominee at closing. If the Seller shall be unable to convey or deliver possession in accordance with the provisions of this ConUact, or make the premises conform with the provisions hereunder, then the Seller 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 diligent efforts to cure any such title defect during such period or make the premises conform, Whichever applies. 2. SETTLEMENT COSTS. Seller shall pay for the preparation of the deed and declaration of value, together with the preparation and recording fees for the removal of any encumbrances against the property. All other expenses and costs of document preparation, title examination, tRle opinions, and the title insurance shall be borne by the Buyers. DATE: SELLERS)INITIALS: ga Bi INITIALS_ Page 1 of ��W Correct Fw Sok of Real Eines Seller. City ofBsngar Buyers: Norman S. Souchand and Dann W Bouchard 0%101 The State of Maine Transfer Tax shall be paid by both the Buyers and Seller, as provided by law. The following items shall be prorated as of the date of closing: NONE Security deposits, ff any, shall be transferred to the Seller at closing 3. POSSESSION: Seller shall deliver to the Buyers possession of said premises immediately upon transfer, free of all tenants and occupants, and without incurring rent or fees. The premises shall be then in substantially the same condition as at present. Buyers shall have the option to inspect the property prior to closing. The risk of loss or damage to said premises until closing is upon the Seller. 6. PROPERTY DISCLOSURE FORM: The Buyers acknowledge receipt of Sellers Property Disclosure From and are encouraged to seek information from professionals regarding any specific issue or concern. The Buyers acknowledge that in entering into this transaction they have not relied upon any warranties or representations not set forth or incorporated in this Centrad. S. DEFAULT: If the Buyers fail to make any payments or to perform any of the agreements on their pad made or entered into, this Contract shall, at the option of the Seller be terminated, and the Buyers shall forted said earnest money deposit as liquidated damages or Seller may enforce all legal and equitable remedies. 6. BUYERS' CONDITIONS: Following are conditions to the Buyers' obligation to acquire the Property: a. The Buyers shall conduct and be satisfied with a land survey of Lot 16. The survey shall be conducted at the expense of the Buyers. I The Buyers shall review and be satisfied with all zoning, land use and environmental laws, codes, ordinances and regulations affecting Lot 16 and shall obtain all zoning, subdivision and development permits and approvals and any other applicable permit or approval as may be necessary for the Buyers' proposed use and development of Lot 16, including a Land Development Permit from the City of Bangor. c. The Buyers shall obtain a commercial loan with terms suitable to the Buyers for the financing of the complete project. If any of the foregoing conditions are not satisfied prior to the Closing, or if the Buyers, in their sole discretion, are dissatisfied with the results of any tests or inspections, or with the content of any of the documents, data or information obtained from the Seller, the Buyers may terminate this contract by written notice to the Seller on or before the Di SELLER(S) INITIALS'. 141 BUYERS(S) INITIALS Page 2of4 �S 04-268 Contract For Sale of Real Earale Seller: Day of Bangor Buyers: Norman S. SouchaA and Diann W. Bouchard 0a/OY04 closing date. In such case the deposit shall be refunded, and neither parry shall thereafter have any further obligations or liabilities under this contract. 7. OTHER CONDITIONS: Following are other conditions to the Buyers' obligation to acquire the Property: a. The Buyers agree to limit any application for a Wetlands Alteration Permit for Lot 16 to less than 4,356 sq, ft. for a period of two years from the date of closing. It. Site work and building improvements must commence within one (1) year from the date of closing. c. Site work and building improvements must be completed within two (2) years from the date of closing. d. The building shall have a gross floor area of not less than 5,500 sq. ft. e. The area within the front setback must be landscaped and planted with trees and shrubs as follows: plant units per 100 ft.: one (1) shrub, one (1) evergreen tree, and one (1) deciduous has. Sufficient evidence of commencing with the "site work and building improvements" is an approved Land Development Permit, issuance of a Building Construction Permit and initiation of construction of the building. S. AUTHORITY: The Buyers and Seller each warrant and represent that the undersigned has full power and authority to execute and deliver this contract and to perform the obligations. 9. MEDIATION: Any dispute or claim arising out of or relating to this contract or the property addressed in this contract shall be submitted to mediation in accordance with the Maine Residential Real Estate Mediation Rules of the American Arbitration Association. This clause shall survive the closing of this transaction. 10. AGENCY: The Buyers and Seller acknowledge that they have been informed by the broker/agent, Robert Gilbert, Prudential Northeast Properties, that the broker/agent is acting solely as a Transaction Broker in this transaction and as such will receive compensation from the Seller only as outlined in the City of Bangor's Real Estate Agent —Client Registration Agreement. The Buyers and Seller acknowledge the broker/agent makes no warranties of any kind regarding the condition, permitted use, or value of Seller's real property. THIS CONTRACT is binding upon the parties hereto, and their respective heirs, personal representatives, successors and assigns. If this CONTRACT is not fully understood, parties should consult an ATTORNEY. This Contract constitutes the entire agreement between the parties hereto, there are no promises or verbal understandings DATE: SELLER(S) INITIALS'.ASERS BUYERS(S) INITIALS: 4Z6 Page 3 of &SB Contract For Sale of Real Estate . Seller CM of Bangor Buyers: lJorman S. B chard and Diann W Souchaof 0605,04 not clearly specified in h. The use of the singular includes the plural and the use of any gender includes the other, BY THEIR SIGNATURES HERETO RECEIPT OF A COPY OF THIS CONTRACT IS ACKNOWLEDGED BY ALL PARTIES. Buyers, having inspected the property and its appurtenances, hereby offers and agrees to purchase the property at the price and upon the terms and conditions set forth. Dated this day of August, 2004 at Bangor, Maine. NoZaAn SBouc_ hajd (Witness) knW 6 u haa (Witness) CITY OF BANGOR By: (Witness) - Edward A. Barnett City Manager DATE. - SELLER(S) INITIALS'. 16W BUYERS($) INITIALS — — — /W Page4cf4 A58