Loading...
HomeMy WebLinkAboutRes1971-814 r .. CITY OF SEWARD, ALASKA RESOLUTION NO. 814 NOW, THEREFORE, BE IT RESOLVED, that the City Council of the City of Seward, Alaska, hereby accepts the loan and grant offer as tendered by the United States Deparbment of Commerce, Economic Development Administration on February 11, 1971, and further identified as Project No. 07-1-00701. This Resolution shall be effective upon the date of its passage and approval. Passed and approved by the City Council of the City of Seward, Alaska, this ~ day of March, 1971. ~ ATTEST: DISTRIBUTION: Economic Development Administration Approv~ as to form: r .. RESOLUTION NO. 814 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SEWARD, ALASKA, ACCEPTING A LOAN AND GRANT OFFER FROM THE U. S. DEPARTMENT OF COMMERCE, ECONOMIC DEVELOPMENT ADMINISTRATION Resolution No. 814 was approved on March 8,1971. City Council Minute Book Volume 15 Page 29 No original or record copy was found. '?~~ ~- ~~ ~'-~I...d ~ U~~ IQ \&.S \ ~I 4. MANNER OF CONVEYANCE - CONDITION OF TITLE: Upon expiration of thirty (30) days from the date on which Resolution of City of Seward No. ~1authorizing the sale of this property has been on file in th~6tfice of the Clerk of City, and if such thirty (30) day term has expired then simultaneously, with the execution of this instrument, City shall at once deliver to Developer a Warranty Deed of said property for recordation in the office of the District Recorder in the Seward Recording District. :1 ;i ,I I! il Ii ,I Ii il " 5. BOND REQUIREMENI': Developer shall pay all laborers, I materialmen, and all other obligations which arise in the course II of construction promptly, and shall, prior to commencement of ','I work hereunder, furnish a bond covering the faithful performance I of this obligation, in a sufficient amount to discharge all II amounts which might be owing, including the satisfaction of any it liens which may arise thereby, in a form and with a surety ij satisfactory to the City. , I Title so conveyed shall be free and clear of encumbrance I and subject only to: (a) patent reservations and easements, i' power and utility lines or rights-of-way of record or visible ! 1 or determinable upon physical inspection of the premises. The i City represents that if there is any encumbrance easement or I zoning ordinance whereby the intended land use in developing I a condiminium structure would be frustrated, that it will use its best efforts to assist the Developer in having such encumbrance or zoning restriction removed, (b) to the extent granted by law the right of re-entry and forfeiture and reverter of 'title to City in case of default or noncompliance with any of the terms and provisions of this instrument. 6. LOCAL PROCUREMENT: Where practical and consistent with good business practices, and where proficient workmen are available, Seward Residents shall be given priority as laborers and materialmen. 7. CONSTRUCTION ENVISIONED: The Development of the property shall consist of the development of a main condominium complex including the installation of recreational and commercial facilities, the construction of apartment buildings and the construction of a convention hall. 8. CONSTRUCTION SCHEDULE: The construction shall be divided into five phases, and each phase shall be completed by the date specified. 0; 9TRKn Phase 1. of the development shall involve general preparation and maintenance activities, including, but not limited to, cleaning all existing structure, repairing roofs on existing structures, cleaning and painting of the exteriors of all existing structures, removal of window units complete with frames on all existing structure, preparatory to replacement thereof with thermopane units, initiation of landscaping work on the premises, and initiation of work on final working draw- ings for units to be involved in remodeling of present structures as well as additional units to be constructed. Phase 1. will be initiated not later than fifteen (15) days after the date of execution of this contract, and will be completed no later than three (3) months after the execution date. LAoW Of'FtCL; ~UGHE.. ,~ss, Low.. [ 8c CLARK PHONE 27...1122 ANCHORAGE. ALASKA -2- &..,. ,,,,,,,,",., ,~.....,~~, ...,. '-~-.- -< ......................... ~'....~'........"," .).:.N.;t;;l~~~":a;~!it....... 'i:..k.'.IiliL.;. !.I.'_,.,..:~:,. . f 1 J i l , Ij I . .I ,J I '.~ I i '1 J ~ i I, I ! ~ s. J. 8UCICALIEW. .JR. ; i 41TOJlN&Y AT LAW i\ ~ ,..ATIONAL 8UK II' eUILDING I _UfTa 5.0 I .. Q ......IT !, AHCHoRA.aa. AU.ltA I',' ..!I01 TaL. 27a..2~8e ; il II 11 lj I, ,J I' Ii " j' 0L /s-'f~ 3 ., i' I' " I, :i , ,i Phase 2 shall con~ist of the remodeling of the interiors of existi'lg structure asiadicated on the land development plan. rhe timing of starts. 01) re!J1odeling of the units shall be de terJlti ned by the sa }es of condol'li niul'l apartments, which Developer will use best efforts to sell. Units sold will be completed withLl five (5) we~ks after date of sale for sales made during the period endi'lg Decf'11ber 1, 1970. In any case, a t least twenty-fiye pel' ce ,)t (25'!,) of Phase 2 construction, including but not Ih'iited to, the cOl}struction of 25% of the condominium units, shall be completed by April 1, 1971. " I 'I L , " i, Phase 3 shall involve the installation of recreational and commercial facilities. Commercial facilities shall include a restaurant with supporting kitchen facilities, cocktail lounge, c~nmon lobby area, rathskeller, and commercial shopping facilities to be located in two arcades from the center buildin Recreational facilities shall include a private key club, dining room, lounges, sauna and steam rooms, enclosed heated SWimming pool, exercise room, two indoor squash and handball courts, four tennis courts convetible into outdoor skating rinks, and a nine-hole putting green. Phase 3 shall be sub- stantially completed by April 1,1972. il '\ i, II '. I' :1 I ~ I' :1 Ii :1 " \ " I' , Phase 4 shall involve the construction of from one to three clusters of two-story apartment buildings with twenty units per cluster. The initiation and completion of ?base 4 will be determined primarily by the demand for such units. Work on Phase 4 shall be initiated by June 1, 1972, I' Ii I ,! 1/ " II , Phase 5 shall inv01ve the construction of a new con- vention center, involving a unit containing at least 30,000 square feet of trade and convention area. Pending the completi n of the new convention hall, the complete facilities of the JESSE LEE Complex will be made available to conventions. The initiation of work of this phase, being dependent upon additiOn feas:l.bil:ity and cost studies, shall be at the discretion of the Deve loper . " :; i :1 II 9. CO~STRUCTIO~ REGULATIO~S: The Developer shall in- sure that aIr-construction is performed in a workmanlike mannerJ an<,i that all applicable laws, building codes, and regulations I of all governmental and regulatory agencies are complied with. " " I: 10. WATER A.~ SEWER: The Developer agrees to install and dedicate to the City, at no cost to the City, and in accord snce with all applicable laws, all streets, water, sanitary sewers, light, power, telephone facilities and all storm sewers which ~hall be placed upon lands within the development which will thereupon become dedicated to public use. I " I, I, 11. DEFAULT BY DEVELOPER: Time is of the essence of this contract. In the event Developer shall fail to comply with or to perform any of the covenants, provisions and conditions of this contract, including but not limited to fail- ure to complete the various stages of development as set forth herein, City in addition to and not excluding all other rights or remedies granted to it by law, may elect to declare this ,. .1 , -3- , I, >I " ;! " " i: " " il H Ii , II Ii I' " ,I ;1 oj I 'i I Ii , H , ! I: Ii I I' i' i Ii :1 ~ I Ii " " 'I j I' f ,I ;j I: Ii I' d Ii li Ii I; 'i " !I Ii 'j I ~ .. J. .uc~~. ~ A'TTOftNaV AT L.a.W 11 \TtONA\. aANk l\JtLD.NG Ulft "'0 I . .,.,.&IIT ANCHORAGe. ALAeKA ..501 TIEl.. &7&-&... contract in default, thus terminating all of Developer's right I thereunder and causing the property to revert to City. DeVelopt' er shall place into escrow a quit-claim deed of this property with the escrow departmc;-nt of Alaska Title Guaranty Company, I at its main branch i.n :ilH:h0rage. The escrow shall be instructe+ to deliver such nuit-claim deed to City only in the event that I City submit!': a certif.ied .6py of Notice of Default as provided I below under paragraph 14 of this contract, a return receipt indicating delive~'y t.o Developer and a statement that City has not acquiesced tn the breach. If the rights of Developer are terminated upon such default, all payments made hereunder and all improvements placed on the premises shall be forfeited to City as liquidated damages. City agrees to place into escrow with the escrow department of Alaska Title Guaranty Company, at its main branch in Anchorage, Alaska, a document of release of the possibility of reverter under this provielon, Escrow shall be instructed to deliver this instrument to Develope.r for recordation with- in fifteen (15) days of completion of all aspects of this contract by Developer as evidenced by proof of payment of the purchase price and by architect; 's certificate of completion If not previously so released, the possibility of reverter under this provision shall terminate upon expiration of 21 years after the executicll of this instrument. 12. DEVELOPER'S RIGHTS IF DEFAULT IS IMMINENT: If Developer believes a default of any of the terms of this agree- ment on his part is imminen: or threatened, then the Developer may apply for an extension or a waiver to the City. For good cause shown, the City may grant such waiver or extension under such terms as it sees fit. Whether a given set of facts con- stitutes gOod cause or not is entirely withiu the discretion of the City. All waivers or extensions which may be granted shall be very strictly construed, and 110 waiver or extension shall affect any part of the contract other than that to which it speCifically refers. 13. WAIVER AND ESrOPPEL: No acquiescence by the City I in any breach of this contract or fai1ur. to ..c1.rn . ..f.u1t I fo~ same, shall work as an estoppel to do so or the waiver of I any right to do so in the future. No invalidity of any pro- vision of this contract shall have any effect on any other part I It 14, NOnCE OF DEFAULT: The City shall not declare thi II contract in default until at least thirty (30) days after , mail.ing, by registered or certified mail, of a notice of 4ft: ;: intention to do same, addressed to Developer at . l~lt'li.. Ball"'u', ~olorlldo, during which time developer may cure f'., the default or apply to the City for a waiver or extension. il il Ii II Ii .' " :! 1I 11 1 15. SECURITY TRANSACTIONS: ' Without the written consen of the City, provided there shall then be no enforceable default on the part of the Developer in the performance of any of the I terms hereof, the Developer may grant a ,security interest ! in his interest in this property for the purpose of interim or I permanent financing of the construction of improvements upon I the premises and for no other purpose, and may encumber bY'. mortgage, deed of trust or other appropriate instrument, his' interest in the premises, provided such encumbrance pertains I only to such interest. I , I I, II I. l: " -4- '~ j I , I I ~ ~ j , ~ , LAW OFFICE5 ~HUQHn. T .... IEn , Low.. rrz lie CLARK 07 II- IITREI:T PHONI! a.,.....u ANCHORAQE. ALASKA Vol.. / '5 If Develop~r shall mortgage this property in accordance with the foregoing provisions, the City agrees that so long as any such mortgage shall remain unsatisfied of record, and written notice of such mortgage is given to City, then City shall, upon serving upon Developer any notice of default, simultaneously serving a copy of such notice upon the holder of such mortgage ; and no notice of such default shall be deemed to have been duly ii given unless and until a copy thereof has been so served upon the mortgagee. The mortgagee shall thereupon have thirty (30) days more time than is given to Developer to remedy or cause to be remedied the defaults complained of, and the City shall accept such performance by or at the instigation of such mort- gage as if the same had been done by Developer. Anything herein contained notwithstanding, while such mortgage remains unsatis- fied of record, if any event or events of default shall occur, which under any provision of this agreement shall cause the reverter to take effect and if before the expiration of thirty (30) days of the date ofservlce of notice of same, such mortgagee shall have paid to the City all payments herein provided for, and then in default and shall have complied or shall engage in the work of complying with all of the other requirements of this agreement, if any, which are then in default, then in such event the City shall not be entitled to terminate this agreement and any notice of termination thereto given shall be I' void and of no effect. ,I ii 11 ;1 II il " 'I ii ,I I II ,I " 16. ' HORIZONTAL REGIME - PARTIAL RELEASES: City and Developer agree that for development of these properties as intended by them, the execution and recordation by Developer of a Declaration of Horizontal Property Regime as required by statute and of a declaration of protective covenants in connection herewith are essential; and the parties further agree that the contemplated land use involves the sale and conveyance of fee simple title of units free of prior lien but subject to protective covenants. Therefore it is agreed: (a) That the terms and provisions of this contract be subordinated to the terms and provisions of the Horizontal ii Prope;rty Regime and the protective covenants thereunder to the extent that the use and occupancy of the property shall be governed by these instruments. (b) Upon completion and filing of the survey map and floor plans of the "condiminium" as required by law, City shall place into escrow with the escrow department of Alaska Title Guaranty Company at the main Branch in Anchorage, Alaska, deeds of a partial release for each individual apartment and other unit as established by the map and plan. These deeds of partial release shall release each respective unit from such equitable mortgage or vendor's lien and from any other right, title or interest as may exist in favor of City under the terms and provisions of this agreement. Escrow instructions to be furnish- ed to said escrow shall provide th~t upon payment by the Developer of the proper pro tanto amount of the total balance of the unpaid purchase price under this contract for an individual unit, and when the City Building Inspector has furnished a certificate that said unit is substantially ready for occupancy, the said escrow shall deliver the deed of release for such unit to Developer. ,$- I i I " ~ 1 1 f :i ~ i ~ . , t t \ , ~ ,i 1 " j " ., J. BUCKALlEW, JR. A1'TORNEY AT LAW ..,. NATIONAL .ANK 'JUILDING IUITI: .40 I 0. STREET A,. '''AGE. AL....KA liJleOI TaL. 27a.24ee ^" ,'''''N\''.r.:}';"~,.. : : y ;I nd :;/,. ;o"e,' sh;! l' coopera te wi tl.l the escrow in t:\H f')U ,-of' set " ,1ppr'cnriat€' escrow instructions and in ')""; ;'0, ':H :'1'0 t;l,'" ~ ',:, ,,(, ()f ilHlehtedness to be alloted to eae", ::":;''''1.,,,(,,)t (',r " " "cc(".I'da',ce with the area ;:Jl}d space I\CCllf\it,! 1.1y e3th ~.J.ch :'-'f~ n~cJE~r the flo'")r ;1]an. i'h, de,.u, cd p<l1'ti;1} l'el€a~e frjreach 'i,'ldividual IInit sha 11. 'l'~ l'lclt- 1" TE' [\<IS/" of .i' s ;,,~rcentage ()f undivided j;)l:e:",,"'t, j'l the, ,,,,,on areas alld f'H'llities and shall be re- c()t'::led "I'o'l del .overy as rel"[llired by statute. n 17. ~'IJBORDINATIO',{: It is the intent of the parties that securing ':If both interim and permanent flnanci'lg of the I cori.pleted construction is essential for achieving a condominiuml development on this property for the benefit of City and of i Developer. I , It is therefore agreed that the vendor's lien or I equitable mortgagee's interest of City in this property arising: under the uupa id portion or portiOI\E' of the purchase money , herein ;>rovidt!d shall be subJect to and inferior to any con- i strlle tj on marl: '5age or deed of trus t now 0,(, herel' fter to be PlaCld on the premises for a ny sur or money loa r1ed or to be loa ned to Developer under the te,"rl1/S of any snch security transaction as anthorized under paragraph 15 hereinabove, I\1' WI'!'{ESS WIfrREnF, the parties hereto have ~ their 1 h:lnds and seals,the CITY OF SEWARD this 2.JJ"'$iay of fJi"''':;'-- 19721 and L'HE VU.' ft!~T C()RPORATIO:~ !)p-mTH AMERI IS ..1f(::-day of , ' 1970, by their respective officers, II'ho ea,;h warra'lt aut lorized tt) t~xt'Cl1t:e this document, H " CTTY olIo' SEWARD rm.: n}:;VELOPMl:.~T CORPORATION' OF 'FJR l'H r\. ME.. RIO, 1~:,,_l~K~4 I J' .~~/ V ':~ ~,- - 7~ } ~~ ' . f ;;' / ;'"",",~" . V'H,,~-dtl-~ B . ..... 1" Y ---L": ~.. ,'"" ~ ~~ ...-t.-; - ... ~ .. 1('"'-,1.____ -ItsP~).j (1/' ) v';/ ,{ By '-, {~, .it. ", r-,L .l-1."0~,t Its c'.' (', d )aj I' I I i I - '~I l'HIS IS ra CJ,;RrIFY, that on Lhe b~ay of _,I 1970, before me, the undersigned, a Notary Public in a or I the State of Alaska, ~/.;ly com' si le arld sworn affll such, // , per lly appeared /.1. r' and"~ K. i !lawn 0 l"~ 11 k '~n to !:,e ~ e t e i and who executed.).l\~f~~O,}jl i g instrument I _ and ~~-pll,,~~', i t i I I STATE OJ:<' ALASKA ) ) 5S. } rHIRD JUDICIAL DISTRICT ,I ;f Ii II :1 :1 !I 1I 'i -6- "<a-,, ~ :~ ", ,_.^' 1 ,;J.' '-i' ATTACHED TO AND MADE A PART OF THE MINUTES OF THE S i\RD CITY COUNCIL L 15 - PCE../J!; ames R:');.'i~ City Clerk-Treasurer h4%) Is/Robert E. Glud Mayor ATTEST: APPROVED AS TO FORM: HUGHES, THQRSNESS, LOWE, GANTZ & CLARK Attorneys f~r City of Seward By -2-