HomeMy WebLinkAboutRes1988-119
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Sponsored by: Royle
CITY OF SEWARD, ALASKA
RESOLUTION NO. 88-119
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, CONCERNING AGREEMENTS WITH ALLIANCE
BANK, METCO/TREND JV, AND HALL QUALITY BUILDERS AS
THEY RELATE TO GATEWAY SUBDIVISION
WHEREAS, on May 5,
agreement with Alliance
87-075 which allowed the
Gateway Subdivision and
covenants; and
1988, the city entered into an
Bank pursuant to Resolution No.
city to prevent the foreclosure of
the subsequent loss of the city's
WHEREAS, on June 27, 1988, and July 13, 1988, the city
entered into option and purchase agreements pursuant to
Resolution No. 88-061 and Resolution No. 88-075 with Clint
D. Hall, dba Hall Quality Builders, and METCO/Trend JV; and
WHEREAS, Hall and HETCO/Trend JV have executed their
options to purchase lots in accordance with these agree-
ments; and
\ffiEREAS, the city and Alliance Bank desire to continue
their agreement only until December 31, 1988; and
WHEREAS, Hall and METCO/Trend JV desire to obtain title
to those lots for which they have exercised their options to
purchase; and
WHEREAS, the city, Alliance Bank, Hall and METCO/Trend
JV wish to provide a mechanism for the orderly closing of
the transactions on those lots chosen by Hall and METCO/
Trend JV;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SEWARD, ALASKA, that:
Section 1. The City Manager is hereby authorized to
execute that certain amendment, dated October 26, 1988, to
the Agreement between the city and Alliance Bank, a copy of
which is attached and incorporated herein by reference.
Section 2. The City Manager is further authorized to
execute closing agreements with Clint D. Hall, dba Hall
Quality Builders, and METCO/Trend JV, copies of which are
attached and incorporated herein by reference.
Section 3. This resolution shall take effect immedi-
ately upon its adoption.
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 88-119
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, this 27 day of October , 19~.
AYES:
NOES:
ABSENT:
ABSTAIN:
ATTEST:
THE CITY OF SEWARD, ALASKA
GIESELER, HILTON, MEEHAN & SIMUTIS
NONE
DUNHAM, NOLL & O'BRIEN
NONE
(City Seal)
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ,
POWELL & BRUNDIN, Attorneys
for the City of Seward, AK
Fr~ 1!1t~
City Attorney
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SENT BY:Xerox Telecopier 7020 :10-26-88 2:37PM
9072765093~
907 224 3248:# 2
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The Agreement dated 8S of January 1, 1988 between
Alliance Bank and the City of Seward, Alaska regarding certain
real property located in the Seward Recording District is amended
as follows:
A, Notwithstanding Section 1 of the Agreement the
City may extend the option Term for two additional one month
periods beginning November 1, 1988 and December 1, 1988
respectively. The City hereby exercises the first extension
beginning November 1, 1988. The City 8hall give written
notice to the Bank on or before December 1, 1988 if it
wishes to extend for the second one month period.
B. Notwithstanding Section 2 of the Agreement the
City shall pay the Bank $6,250 a. consideration tor each one
month extension payable on the 1st day of each month.
Except as amended herein all other provisions of the
Agreement shall remain in full force and effect.
DATED October~, 1988.
CITY OF SEWARD
By:
Its:
At.LJ:ANCE :BANK
8y:
Its:
By:
Ita:
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SENT BY:Xerox Telecopier 7020 :10-25-88 2:38PM
9072765093-+
907 224 3248:# 3
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STATE OF ALASKA )
)...
THIRD JUDICIAL DISTRICT )
The foreqoinq instrument was acknowledged betore me
this day of October, 1988 by the
for the City of seward, on behalf of the City.
Notary Public in and for Alaska
My Commission Expires:
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STATE OF ALASKA )
)...
THIRD JUDICIAL DISTRICT )
~/,~The foreqoinq instrument~a. cknowled~~d,befor. me
thif \P P day of October, 1988 by _,~d4,Irl4h.L ~Af.}, IJJ. ~?V the
~vf 11_ tor Allianc Bank, on behalt ol th Bank,
~ ~IY}
No ry Public n an~ fqr ~laska
\N Commission Expires:-' -".:',~ ;""'RQ
.....z A."'IL sr. .H<)
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AMENDMENT
paqe 2
A220U3
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CLOSING AGREEMENT
THIS AGREEMENT is made and entered into this _ day of October, 1988, by
and between the City of Seward, Alaska, ("City") and Clint D. Hall dba Hall Quality Builders,
("Builder").
WHEREAS, on June 27,1988, City and Builder entered into that certain
Option and Purchase Agreement pursuant to Resolution 88-075 of the City Council of the City
of Seward; and
WHEREAS, Builder has exercised its option to purchase lots in accordance
with that agreement; and
WHEREAS, the City may not extend its agreement with Alliance Bank (the
"Alliance Bank Agreement"); and
WHEREAS, Builder desires to obtain title to those lots for which it has
exercised its option to purchase; and
WHEREAS, the parties wish to provide a mechanism for the orderly closing of
the transactions on those lots chosen by Builder.
NOW THEREFORE, City and Builder agree as follows:
1. Recognition of Lots. Builder has exercised its option to purchase in
accordance with the Option and Purchase Agreement dated June 13, 1988, (Option Agreement)
on the following Lots:
LEGAL DESCRIPTION
MONTHLY COST
Tract!
Lot
1
2
3
4
5
6
7
Block
2
2
2
2
2
2
2
November
$155.34
142.03
142.03
142.03
140.47
147.20
145.62
December
$160.52
146.76
146.76
146.76
145.15
152.10
150.47
Total
$315.86
288.79
288.79
288.79
285.62
299.30
296.09
Page 1
8 2 145.62 150.47 296.09
. 9 2 145.62 150.47 296.09
Tract!
Lot Block November December Total
11 2 142.03 146.76 288.79
12 2 142.03 146.76 288.79
13 2 142.03 146.76 288.79
14 2 142.03 146.76 288.79
15 2 142.03 146.76 288.79
16 2 142.03 146.76 288.79
17 2 142.03 146.76 288.79
18 2 153.13 158.24 311.37
19 2 199.29 205.94 405.23
5 6 151.71 156.77 308.48
6 6 146.58 151.47 298.05
Total $2950.88 $3049.20 ~6000.08
2. Closing Date. Builder shall have until December 15, 1988, to pay in full the
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entire purchase price for each of the above referenced Lots. Upon payment in full, the City shall
issue a quit claim deed to the Lot(s) purchased and agrees that a sufficient portion of the
purchase price of each of the Lots shall be allocated at closing to obtain a Partial Deed of
Reconveyance from Alliance Bank on the Lot(s) purchased. City agrees to forward to Alliance
Bank at closing a properly executed Request for Reconveyance for the Lot(s) purchased. Upon
request of Builder, City agrees promptly, and within 10 days ofrequest by Builder, to close on
any individual Lot(s) prior to December 15, 1988. The purpose of this provision is to facilitate
the sale of completed homes by Builder.
3. Consideration. Builder agrees to pay City on or before November 1, 1988,
the sum of
and on or before December 1, 1988, a sum equal to the monthly cost set
forth adjacent to the list of Lots set forth in Paragraph 1 above which were not closed prior to
December 1, 1988.
4. Recognition of Prior Agreements. Except as specifically provided herein,
this Agreement does not affect, alter or replace any of the provisions of the Option Agreement.
. City recognizes that Builder has properly exercised its option to purchase the Lots described in
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Paragraph 1 above, and Builder acknowledges that this Agreement will fulfill all obligations of
the City under the terms of the Option Agreement. Builder understands that the City Council of
the City of Seward may not chose to extend the Agreement with Alliance Bank and that City has
no obligation to do so.
5. Modification of Agreement with Alliance Bank. City and Builder agree
that it would be in the best interests of Builder and City to obtain a modification of the
Agreement with Alliance Bank in order to provide for the orderly closing of the sale of Lots
under the terms of the Option Agreement. City agrees to use best efforts to seek a modification
of the Agreement with Alliance Bank to specifically provide for the issuance of Deeds of Partial
Reconveyance on Lots closed on by City and the Builder prior to December 15, 1988.
DATED this _ day of October, 1988.
CITY:
CITY OF SEWARD, ALASKA
BY:
City Manager
ATTEST:
City Clerk
BUILDER:
HALL BUILDERS
BY:
Hall Builders
APPROVED AS TO FORM:
Page 3
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Fred. B. Arvidson
City Attorney
STATE OF ALASKA
THIRD JUDICIAL DISTRICT
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TIllS IS TO CERTIFY that on this _ day of October, 1988, before me, the
undersigned, a Notary Public in and for the State of Alaska, personally appeared MAX ROYLE,
City Manager for the City of Seward, Alaska, known to me and to me known to be the individual
named in and who executed the foregoing document, and he acknowledged to me that he was
authorized to execute the foregoing document by authority granted him in the Municipal Code of
Ordinances for said City and for the uses and purposes therein set forth.
WITNESS my hand and notarial seal the day and year fIrst hereinabove
written.
STATE OF ALASKA
THIRD JUDICIAL DISTRICT
Notary Public in and for Alaska
My Commission Expires:
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) ss.
)
TIllS IS TO CERTIFY that on this _ day of October, 1988, before me, the
undersigned, a Notary Public in and for the State of Alaska, personally appeared ,
as President of HALL BUILDERS, known to me and to me known to be the individual named in
and who executed the foregoing document, and he acknowledged to me that he was authorized to
execute the foregoing document by authority granted him in the Bylaws or by resolution of the
Board of Directors of said corporation for the uses and purposes therein set forth.
WITNESS my hand and notarial seal the day and year ftrst hereinabove
written.
Notary Public in and for Alaska
My Commission Expires:
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CLOSING AGREEMENT
THIS AGREEMENT is made and entered into this _ day of October, 1988, by
and between the City of Seward, Alaska, ("City") and Metco/frend, JV, a partnership of Metco
Inc., an Alaska corporation, and Trend Construction a sole proprietorship business, ("Builder").
WHEREAS, on July 13, 1988, City and Builder entered into that certain Option
and Purchase Agreement pursuant to Resolution 88-075 of the City Council of the City of
Seward; and
WHEREAS, Builder has exercised its option to purchase lots in accordance
with that agreement; and
WHEREAS, the City may not extend its agreement with Alliance Bank. (the
"Alliance Bank Agreement"); and
WHEREAS, Builder desires to obtain title to those lots for which it has
exercised its option to purchase; and
WHEREAS, the parties wish to provide a mechanism for the orderly closing of
the transactions on those lots chosen by Builder.
NOW THEREFORE, City and Builder agree as follows:
1. Recognition of Lots. Builder has exercised its option to purchase in
accordance with the Option and Purchase Agreement dated June 13, 1988, (Option Agreement)
on the following Lots:
LEGAL DESCRIPTION
MONTHLY COST
Tract!
Lot
4
5
6
7
8
9
10
Block
1
1
1
1
1
1
1
November
$143.49
184.24
229.51
180.41
141.46
141.77
141.77
December
$148.27
190.38
237.16
186.43
146.17
146.50
146.50
Total
$291.76
374.62
466.67
366.84
287.63
288.27
288.27
Page 1
. Tract!
Lot Block November December Total
11 1 141.77 146.50 288.27
12 1 146.41 151.29 297.70
13 1 139.52 144.17 283.69
15 1 141.99 146.72 288.71
16 1 141.99 146.72 288.71
17 1 141.99 146.72 288.71
18 1 141.99 146.72 288.71
19 1 141.99 146.72 288.71
20 1 141.99 146.72 288.71
21 1 141.99 146.72 288.71
22 1 140.29 144.97 285.26
23 1 179.88 185.88 365.76
24 1 155.93 161.13 317.06
25 1 139.74 144.40 284.14
Total $3.200.12 $3.306.79 $6.506.91
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2. Closing Date. Builder shall have until December 15,1988, to pay in full the
entire purchase price for each of the above referenced Lots. Upon payment in full, the City shall
issue a quit claim deed to the Lot(s) purchased and agrees that a sufficient portion of the
purchase price of each of the Lots shall be allocated at closing to obtain a Partial Deed of
Reconveyance from Alliance Bank on the Lot(s) purchased. City agrees to forward to Alliance
Bank at closing a properly executed Request for Reconveyance for the Lot(s) purchased. Upon
request of Builder, City agrees promptly, and within 10 days ofrequest by Builder, to close on
any individual Lot(s) prior to December 15, 1988. The purpose of this provision is to facilitate
the sale of completed homes by Builder.
3. Consideration. Builder agrees to pay City on or before November 1, 1988,
the sum of
and on or before December 1, 1988, a sum equal to the monthly cost set
forth adjacent to the list of Lots set forth in Paragraph 1 above which were not closed prior to
December 1, 1988.
4. Recognition of Prior Agreements. Except as specifically provided herein,
this Agreement does not affect, alter or replace any of the provisions of the Option Agreement.
City recognizes that Builder has properly exercised its option to purchase the Lots described in
Page 2
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Paragraph 1 above, and Builder acknowledges that this Agreement will fulfill all obligations of
the City under the terms of the Option Agreement. Builder understands that the City Council of
the City of Seward may not chose to extend the Agreement with Alliance Bank and that City has
no obligation to do so.
5. Modification of Agreement with Alliance Bank. City and Builder agree
that it would be in the best interests of Builder and City to obtain a modification of the
Agreement with Alliance Bank in order to provide for the orderly closing of the sale of Lots
under the terms of the Option Agreement. City agrees to use best efforts to seek a modification
of the Agreement with Alliance Bank to specifically provide for the issuance of Deeds of Partial
Reconveyance on Lots closed on by City and the Builder prior to December 15, 1988.
DATED this _ day of October, 1988.
CITY:
CITY OF SEWARD, ALASKA
BY:
City Manager
ATTEST:
City Clerk
BUILDER:
METCO{fREND, N
BY:
Metco, Inc.
BY:
Trend Construction
Page 3
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APPROVED AS TO FORM:
Fred. B. Arvidson
City Attorney
STATE OF ALASKA
THIRD JUDICIAL DISTRICT
)
) ss.
)
THIS IS TO CERTIFY that on this _ day of October, 1988, before me, the
undersigned, a Notary Public in and for the State of Alaska, personally appeared MAX ROYLE,
City Manager for the City of Seward, Alaska, known to me and to me known to be the individual
named in and who executed the foregoing document, and he acknowledged to me that he was
authorized to execute the foregoing document by authority granted him in the Municipal Code of
Ordinances for said City and for the uses and purposes therein set forth.
WITNESS my hand and notarial seal the day and year frrst hereinabove
written.
STATE OF ALASKA
THIRD JUDICIAL DISTRICT
Notary Public in and for Alaska
My Commission Expires:
)
) ss.
)
THIS IS TO CERTIFY that on this _ day of October, 1988, before me, the
undersigned, a Notary Public in and for the State of Alaska, personally appeared
as President of , and , as President of TREND CONSTRUCTION,
known to me and to me known to be the individuals named in and who executed the foregoing
document, and they acknowledged to me, each of himself and not one for the other, that they
were authorized to execute the foregoing document on behalf of Builder and that they were
authorized to do so in by authority granted them by said Joint Venture for the uses and purposes
therein set forth.
written.
WITNESS my hand and notarial seal the day and year frrst hereinabove
Notary Public in and for Alaska
My Commission Expires:
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