HomeMy WebLinkAboutRes1988-126
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Sponsored by: Royle
CITY OF SEWARD, ALASKA
RESOLUTION NO. 88-126
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, AUTHORIZING THE DISPOSAL OF CITY-
OWNED LAND WITHIN GATEWAY SUBDIVISION TO ALLIANCE
BANK IN CONSIDERATION OF THE TEID1INATION OF THE
CITY/ALLIANCE BANK OPTION AGREEMENT OF MAY 5, 1988
WHEREAS, the city of Seward previously sold the Gateway
Subdivision to Gateway Ventures, Inc.; and
WHEREAS, the city did subrogate its interest in said
land to Alaska Mutual Bank (now Alliance Bank) in order for
Gateway Ventures, Inc., to obtain financing to develop
Gateway Subdivision; and
WHEREAS, Gatewav Ventures, Inc., deeded the rema~n~ng
Gateway Subdivision property back to the city in lieu of
foreclosure, but subject to the first position of the
Alliance Bank Deed of Trust; and
WHEREAS, the city of Seward and Alliance Bank entered
into a mutual agreement on May 5, 1988, whereby the Bank
agreed to defer foreclosure on the Gateway Ventures, Inc.,
loan, and the city agreed to make monthly payments in order
to maintain the right to market the property with the hopes
of encouraging residential development; and
WHEREAS, through purchase-option agreements with two
builders, there are over twenty-five homes completed or
under construction and another eleven lots available for
construction; and
WHEREAS, the city has attained its short range goal of
encouraging home construction; and
WHEREAS, since the city has opted not to extend its
Option with Alliance Bank, it is appropriate that the
remaining Gateway Subdivision lands be deeded back to
Alliance Bank to satisfy the Bank's Deed of Trust; and
WHEREAS, the City Council has conducted a public
hearing on the disposal of said Gateway Subdivision prop-
erties in accordance with established city property disposal
procedures;
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CITY OF SEWARD, ALASKA
RESOLUTION NO. 88-126
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF
THE CITY OF SEWARD, ALASKA, that:
Section 1. All remaining city-owned lands within the
Gateway Subdivision shall be reconveyed to Alliance Bank in
accordance with that certain quit claim deed, a copy of
which is attached and incorporated herein by reference.
Section 2. In accordance with Section 2-85 (a) of the
City Code, the City Council hereby finds that the public
interest would not be served by requiring an appraisal of
said city-owned property.
Section 3. This resolution shall take effect thirty
(30) days following passage and posting as required by law.
PASSED AND APPROVED BY THE CITY COUNCIL OF THE CITY OF
SEWARD, ALASKA, this ~ day of November , 19~
THE CITY OF SEWARD, ALASKA
~~I~OR
AYES:
NOES:
ABSENT:
ABSTAIN:
GIESELER, DUNHAU, HILTON, MEEHAN, NOLL, O'BRIEN & SIMUTIS
NONE
NONE
NONE
ATTEST:
APPROVED AS TO FORM:
HUGHES, THORSNESS, GANTZ,
POWELL & BRUNDIN, Attorneys
for the City of Seward, AK
Fre: h/ft~ -
City Attorney
(City Seal)
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QUITCLAIK DBBD
PARTIAL RELEASE OF CONTRACT OF SALE OF UNIMPROVED PROPERTY
PARTIAL RELEASE OF DEVELOPMENT AGREEMENT
THE CITY OF SEWARD, ALASKA, an Alaskan municipal corporation,
P.O. Box 167, Seward, Alaska 99664, by its authorized officer,
for and in consideration of the sum of TEN AND NO/100 ($10.00)
DOLLARS AND OTHER VALUABLE CONSIDERATION, and pursuant to
Resolution No. 88-_ adopted November 28, 1988, does hereby
quitclaim and convey unto ALLIANCE BANK, an Alaskan banking
corporation, receiving mail at P.O. Box 9900, Anchorage, Alaska
99509-9903, the following described real property situated in
the Seward Recording District, Third Judicial District, State
of Alaska:
LOTS 5, 6 and 7, BLOCK ONE; LOT 19, BLOCK TWO; LOT
4, BLOCK SIX; LOTS 1,2,3,4,5,6,7,8,9,10,12,
and 13, BLOCK EIGHT; and TRACT B, GATEWAY
SUBDIVISION, according to Plat 84-18; and LOTS 21,
30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 41, 42,
43, 44, and 45 BLOCK TWO; LOTS 1, 2, 3, 4, 5, 6, 7,
8, 9, 10, 11, 12, and 13, BLOCK THREE; LOTS 1, 4, 5,
6, 7, 8, 9, 10, 11, 12, 13, 14, 15, and 16, BLOCK
FOUR; TRACT C-1; TRACT C-2; and TRACT C-3, GATEWAY
SUBDIVISION, according to Plat 85-9, filed in the
Seward. Recording District, Third Judicial District,
State of Alaska
In addition, the CITY OF SEWARD, does hereby release the above
described property from that certain Contract of Sale of
Unimproved Property, and that certain Development Agreement,
both dated August 24, 1984, executed by GATEWAY VENTURES, INC.
as purchaser/developer, and the CITY OF SEWARD as seller, which
documents were recorded August 24, 1984 in Book 34 at Page 842
and Book 34 at Page 854 respectively.
SIGNED AND ATTESTED this
day of
, 198_
THE CITY OF SEWARD, ALASKA
ATTEST:
MAX ROYLE, CITY MANAGER
APPROVED AS TO FORM:
WOHLFORTH, FLINT AND GRUENING
Attorneys at Law:
ROBERT B. FLINT
SPECIAL COUNSEL FOR THE CITY
OF SEWARD
LINDA S. MURPHY, CMC
CITY CLERK
(City Seal)
STATE OF ALASKA
)
) ss.
)
THIRD JUDICIAL DISTRICT
that on this day of
the undersigned, a Notary Public
Alaska, personally appeared
known to me and to me known to
be the City Manager of the City of Seward, and 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.
THIS
IS TO CERTIFY
, 1988, before me,
the State of
in
and
for
WITNESS my hand and notarial seal the day and year
first hereinabove written.
Notary Public in and for Alaska
My commission Expires: