The URL can be used to link to this page

Home My WebLink About2002-11-25 03-23 ORDERItem No. 03-23 Dere: November 25, 2002 Item/Subject: Authorizing the City Manager to Execute an Agreement with Erin, Inc. and a Accept he Deed for the Purchase of Property Located on Dutton Street. Responsible Department: Legal Commentary: We have been working for some time on the acquisition of approximately 3.27 +/- acres of property located on Dutton Street. The property is adjacent to the Bass Park Complex and would allow for the expansion of property owned by the City. The purchase price of the property is $650,000.00. The City Council previously authorized utilization of $350,000.00 from undesignated fund balance W pay for a portion of the purchase price. The agreement between the City and Ern, Inc. also stipulates that We seller of the property must utilize $300,000.00 of the sale proceeds toward rehabilitation of their lodging facility located on Main Street. - This has been reviewed and approved by the Business and Economic Development Committee. Department Head Manager's Comments: This has been discussed with the Council on a number of occasions, and this agreement is in line with the prior discussions and Council direction. Recommend approval. z City Manager Associated Information: Budget Approval: �-. Finance Director Legal Approval: Introduced for Passage _ First Reading _ Referral Page I of I Assigned to Councilor Crowley November 25. 2002 <5 CITY OF BANGOR (TITLE.) Order, Authorizing the City Manager to Execute an Agreement with Erin, Inc. and Accept the Deed for the Purchase of Property Located on Dutton Street. By th Cyly CbuxB 0/Me C7ry ofBango r. WHEREAS, the City of Bangor desires to purchase property looted on Dutton Sheet which will allow for the expansion of the Bass Park Complex; and WHEREAS, the purchase price for the property Is $650,000.00; and WHEREAS, the agreement stipulates that a portion of the sale proceeds shall be utilized to upgrade the seller's lodging property located on Maine Street; and WHEREAS, the City Council has authorized the utilization of $350,000.00 from undesignated fund balance to finance a poroon of the purchase; and WHEREAS, the City of Bangor and Erin, Inc. desire to dose on the sale of subject properly on or before December 15, 2002. NOW, THEREFORE, BE IT ORDERED BY THE CITY COUNCIL OF THE CITY OF BANGOR THAT The City Manager is hereby authorized to execute an agreement to purchase and accept the deed for property looted on Dutton Sheet. Said agreement shall be in substantially the same form as attached hereto. IN an COUNCIL AoeemDem 25. 2002 Notion for Paeeege Node amd Seconded Pooped p 03-23 (TITLE,) Authorizing the city Manager to xec and Accept the Deed for the Purchase of Property AsslgnedOCODzgar ! Bk 6500 P093 449795 12-16-2002 @ 1O146a 03-23 QHITCEABv1 DEED WITH COVENANT ERPI, EJC., a Maine corporation with aprincipal place ofbusiness at Por0and, Cbmberlaud County, Maine, for consideration paid, grants to CITY OF BANGOR of Bangor, Penobscot County, Mains with Quitclaim Covenant, the land together with any buil dings or improvements thereon in Berger, Penobscot Coaty, State of Maine, described on EAUldt A. The Grantee's mailing address is 73 Endow Street, Bangor, Maine 04401. IN WITNESS WHEREOF, ERIN, INC. has caused this instrameM to be signed in its corporate name and sealed with its corporate seal by Kevin P. Mahaney, its President, hereunto duly authorized, this 12'1 day ofDoomi tt, 2002. WI S: B✓L�/w ByVO IiMahn Iterts PPresosi d Htteumn yAuthorized STATE OF MAINE PENOBSCOT%ss December 12,2002 Then personally appeared the Bove -armed Kevin P. Mahaney and achnowladged the foregoing instrument to be his free act and deed in his said capacity and the free act and dead of said corporation. Before me, NIAZt4(1 IL�B I M Nam Notary Public ' Maine Attomry-at-Isco SUSAN J. DEVINE Ip MpUaUC.WIME 000GRR''��L pPfE�MM"RES McRsH M, ran P994 #49795 SCHEDULE A Deed of Erin, Inc. to City of Bangor Acatvu lm or Parcel o(Ievd, togetba wi my bwl pffi m UW wWd Bevgor,, bomdedmWdmi vbflox 2 a &instate ofome awl vive aothv (9.9) festto apoiot; tnmeexoM 5r 53• east adiAmce of Yvee mdthree avths(3.3)feetto a Wirt, saidpowtbeiagtbe gmereBywo ycome ofBmi parcel desm0c.4w Volome20A6, Page 201; thmc! SaYh3V56' Esetoa and by laodoftbe City ofBaogor a distance oftwmty-aeveo and eighty-®e®e huo iths(2).81) tett to a bolt in da generally sosshwesWly line of Datroe Strx1, bewg the gaaetaBy s aslaly comer of Me pawl dmvibed in saW Volume 2046, Page M; dance is a geoWly soWheaAuly duatio"oogthe gmenlly mulbwesRrly lice ofWtton Stet, a dismce ofJnu baodrai to Vseven (32])fM, mine or less, totse gmaauy nOnbaly comer of the aforesaid Wing OR Compos ®parcel; Weocem a gmmlly sonWwestaq dirt o% along We generally w vvcsarly line of said Imog oil Cmporeaw parcel, a distance oft hwdred filly (250)(eel a W gmuauy westerlycmoa ofsuid Wing On corym*ioo panel;%mce w a generally mutheasarly dintetim along gmaNly cembwesarly lice of said Wing oil Coporatiw psscel, a distance of cm huodred sixty (160) kn to the Pointy invwg. This wnveyance is. made exp Iysubjat to auy right of way the City of Bangor my have over doe promuea along and adjacent to Def eboNemrg Baa Pmt, bsiug the same right of way re d0w We deed fromE ixse Bass Pierce to Cole Realty, Inc. dated ApN 12, 1966, semrdet ort Volume 2046, Page 201 of sold Begaoy Thereof wweysd hmby a0 dm easements ai ngpb a escePad axis) rtaerved in W deed from Cole Really, Inc. to Caools Developmeat Cmpma dead September 2],19]8, raw is Volume 2912, Page 169 of snW Registry,the pro"isiexis ai Mina ofwid a eats and nghts being s 6callyinroryweW harem by rtfamcetherero. Being the same premiw as de bW in the dei it mCole PropertiesW w, Ino. dated Ocbba 2,198] and mord m ok 4132, Page 210 oftha Pswi of County Registry of Ce Ws. "Maine Real Estate Trensfer Tax Paid" 03-23 Porchue and Sale Agreement TIM undersigned, Oty of Bangor and/or Assigns, hereafter called da Buyer", herdry others 10 purchase from, Erin, Im, a Maine Crop anon, hereafter called the "Sella", the property described and locatal as follows:'he lead aM buildings located at 76 Dunoa, Bangor, Maine consisting of approximately 3.23 acres. and more particularly described in the proposed deed numbed a Exhibit A. 1. Arelowe Price: $650,000.00 2. Payment of Purchase Price: Buyer sball pay the purchase price at the closing in cash, ratified chink m electorate owe trmafer (subject many closing adiusmrwts provided by this Agitation). 3. Settlement Pfitle: It is agreed that this transaction shall be closed and the Buyer still Pay the balance due and Amis all papas vecesawy for the completion of the purchase on orbefore December 13, 2002, uniess otherwise agreed to, in writing by both parries. AQuitchiim Deed with Covenant substantially in the form of Exhibit A, and conveying good and mentionable file, five and clear of all evapabmnca, except impact public whifics, such taxes for the covert year as aro not yet due and payable, and the enuxmtbrenca Hated in Bxhibit A, shall be delivered to the Buyer or resource 9 closing. If the Sella shall be inside an wnvry or delimrpcessessim th acmrdavcewiththepmvisions ofthia covtpaa, ormeke the preausen coolant with the provisions bartender, than the Sella sballhave a reaseembletiaepaiod mt to exceed 60 days to are any titledefact,u msothawime edwbyboNpmti ffiw fig The Sella hereby agrees to ase diligart efforts m are my such file defect during such Period mmake pr®isa conform, whicteva applies. prparationa Cobb: ingfdullpayf thead of my ofihe deed,deolaarimoperty,,together withthe IbUait& end recording fees; for theremovalreeny®ambrmceagdast the property, except those listed in Exhibit a Another caprices seed ware of docupamtpees Tare, fide all bein,titleopioiooa,ar3the i ie Sella shell beboae bythe Buyer. The Sole ofMaive'hmafa Tax andi 10 days yboth theumn ofU lbuyer aid the Sella, aprovided by law. The reel estate taxes dull bepromt� Within in Jaye ofthe execution epaty, agreement Sella shell Provide m Buya, atm mar, dl doamab i[ha regaNinions a m the subject lxopaty, including, bier rot Itnited m, exiathvg abstracts, titre ineumvwpolicies, tide opinions and deeds. 5. Possession: Possession of the property stall be given in See Buya a time of closing. uniees otherwise specified by mutual agreanmt. Buyerdbdltawe optio wen pectthepmpctypriamciom g ThenA of Ime or change to said pren0sa until dosing is upon the Sella. 6. Default If the Buyer fails in make any payments oro perform my of the agreements on its pmt made or enteral ince, this mature sheat the option of the Sella be teallmted, and the Buyer shall forfeit said earnest money deposit and the arrow agent is henry authorized to pay the earnest paomy deposit to the Sella as liquidated damages. 7. Inspections: Sella shall provide in Buyer all records in its poesesion of environmental studies and dl Maine Department of Environmental Proteetionremrds perediningto the property. Bteyapaayhavesaid rands reviewed, at its cost, byib euvuosmental consultant sod ifBuyajs not reaosably satisfied with the env'vovmmalmatters ended m mdpropaty, them Buyer may dec methis comma to be mall card void and be relioved ofmyobligationto purchase said property. S. Agreement BinGmg: This Cowma isbiadinguponthepartieshaeto, and theirrespectiveheirs, personal repnamtativa, suceamm and cadges, ifthucontmct wtfullymdmtood,pmti Aouldmnsiltm attorney. This comment contributes the afire agreement between the patties hereto, there are on promises or rental mdersmdiogs nm clearly specified in it The use of the singular includes the plural and the use of my Semler includes the other. 9. Mechanism: Any dispute or claim strong out of or rending to this contract or the property addressed or his commit $hall be submitted to mediation in accordance with the Maine Rest Estate Mediation Rules of the American Arbitration Macaroon. This clause shall survive the closing of this transaction 30. Safer me of sale proceeds: SeBc baeby agrees Wan it shell invest $300,000 in rehabilitation of the Holiday bralocmd 9500 Maio Street' Bangor, Maine. Fm thepurposa ofUs Agr mmy'mhabiftattm^ shall include rmovatiom, capitalimprovements, had eepmsiovs,but shat not include ordinary repeba and mememourm Sella shall provide evidence of said rehabilitation to Buyer m the form of cadlicatimby Sella's CFA m or before Decmba31,2003, Wert m least$300,000 hmbeen spmton said rehabilitation. This clause shall survive the closing of this treomctuo - 11. Authority The Buyer and the Seller ach warrent and represent the the undersigned has fell powa and mthentyIn ecaaVe and deliver this contract and to perform We obligations. 12. Deal ha Ran of tiding: The mature expressly ah m vIedge that the Buyer is a municipality vested with endm art domain authority under the laws ofthe Stare of Maine, that the Buyer hen proposed to acgaire the property for the propose of rehabilitation and redevelopment in accordance with Maine's Co®unity Development statute, 3O -A MASA §52010 sal., and She the Buyers purchase of the property pmsmut to thia agreement is in lieu of a centmplatM taking of the property by the power of eminent domain under 30-A M.]CSA§5204. Sella,byitsacceptmceofW purchas bymnveyanreofthepmpeutykn oleorpatt wthe Buyer,hmbywalvomyandallclaimsmfurtbacom afimincludingseverancedmage.under 30-A MA.S.A §5204 (5) and of claims for relocation asshstmcemder 1 M.R.SA §951 er seq. mother provisimsoflaw. Sefgfmitself,ihsuccessmamdmmgos,frutha vesmyanddlrightwrewquire underdeveloped a uorehabilimted portima of the property pursuant to 30-A MRSA §5203(3)(E). Seller's wmvcafthese rights shell be incorporated in the peed to be delivered by the Sellaw the Buyer. U. As Is Condition: Buyer warrants and represents that Buyer has imposed and investigated the Property Buyer's satisfaction, and is not relying on any xpraedatunm male by Seller or myon¢ acting or claimingm aeon behalfof Sella except as expresslyset forth in this Agreement Buyer ogees that Sega hen made m repraeutatuovs mwemantia m m the dvdition m suitability oftheProparty m a W anY other mattergffecn. .the Propertymthis Agreanentad ASM relyingsolelyc Buyer'sown exmismtimand of aced by Buyer agars taccarned fthe Propertyin AS ]dascf timentre damareart ind bLeaion of of ll deed err Buyer shallbedead full performance and discharge y severyaw t agreavad and obligation . Seller order this Agrememt, exceptthese pmvisions widen expressly sante they will survive lite closing. [Somanue Page Follows] BY THEM SIGNATURES HERETO RECEIPT OF A COPY OF THIS CONTRACT IS ACYNOWLED�G�13iDII �BBY ALL PARTIES. p Dateddus dayofLp 2802at `I6r.Nc :Mmue. E /�. WRams BY: Its: eras a. t1� �C-I'//T{{}Y�//��O,,,,.F�`BBANGOR Wifaese A�:frr�_ By. ita wwsl A. It: City Manager 21981 SUSAN J. DEVINE p%4 99gN PR E.m"Hanu