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Home My WebLink About1984-07-3013. MINUTES OF SPDCIAL TOWN BOARD ViEMNG HELD TUESDAY, JULY 24F 1984, @ 7:00 PH Those ;present: Teresa Ellax:d Joseph Goxdon Absent: Donald Jack Ft M. L. H. C. E, Robinson, Supervisor So vac ool, Councilman Graham, Oouncilman VanBenschoten, Council.iaan Curruaings, Councilman gerald, Attor: fey Also fires nt a Leland Corn el.ius , Robert Walpole Purpose of meetinG was to discuss acquisition of property known a$ Tichenor Gravel Bank. Town Made a purchase offer of $135,000 and �7r. Tichenox made a oounter -offer of $146,000 indicating there is approximately $Y00 woz h of wood that goes with property. This purchase offer i;t, subject: to board approval by July 24, 1964, Mr. 'Hchenor also wants water rights from sparing on property that is piped to his garage, Once he sells his gropexty water rights decist. Since entire boa? :d and ',Town Attorney were not present, it was suggested 'L's. get an extension on Mr. Tlchenor's offer until July 31, 19$4 and Town Board members meet prior to that date, at 8 PM Koved by I'x. Sovocool to adjourn m :tin until. I4ionday, July -)0. 1984, at 7:00 P.M. Seconded by Mr. VanBenschoten. Ayes - Sovocool, Graham, VanBenschoten, Robinson . Colleen D. Pierson Town Clerk MTRUTES OF ADJOURNED SHDIAL TOWIT BOA-RD -M TI KG (JnY 4) HELD MONDAY, JULY 31 1984 AT 7#00 P . I i . Those present: Teresa H. Robinson, Supervisor Ellaz�d L. . ovoco'01, Councilman Gordon O. VanBenschoten, Councilman Joseph H. Graham,. Councilman Donald E. Cummings, Couxicilman Jack Fitzgerald, Attorney Also present: Leland Cornelius., Robert Walpole Supervisor Robinson opened meeting at :O0 P , JH which was ad jou27ned from July 24 until entire board and Town Attorney could be present. Supervisors Robinson explained Mr. Tichenox's counter -offer which has been extend6d until July 31. His countea offer is 10,000 since approximately $5000 woxth of wood goes with offer. Attorney Fitzgerald coxar Cted a statefrient he made pxeviously regarding tax status of properrty should another municipality purehas&. it. A gravel bank is not tax exempt for another municipality, Board members discussed purchase of prope2�ty, how much wood is available on property, other sources of gravel that might be available, etc. Aftex considerable discussion, the following resolution was offered: 2 1 }L i 4 s= r RESOLUTION ISO, 23 PURCHASE TICHENOR. GRAVEL BANK FGR THE Try aF $146,ow,00 Moved 'by Mr. Graham, seconded by Mr�. Robinson Ayes - Mr. Sovocool, Mr. Cummings, Mr. Graham, PL> s. Robinson Play Mr. VanBenschoten WHEREAS, the curiemt supply of sand and gravel from the Town - owned g_:avel pit is aXmost depleted, and WHEREAS, it appears to a majority of the members of the Town Board to be xca,sonable and prudent for the Town to own a long - term supply of sand, and grave., WHEREAS, Hexbert Tichenox has offered to sell 40* acres of land along the south side of Spring Street and the buzlding thereon, which :Land hay p?xoven reserves of gravel deemed sufficient to last the Town of Groton for over 20 yearns, at a price of $146,060-00, upon the terms aimd conditions set forth in the attached; ooritra,ct. _ - (See Page 215 THUMFORE, BE ET RESOLVED that the Town of Groton purchase from for Contract) Herbert Tichenox 40 t acres of land along the south side of Spring Dtreet for the sum of $146,000.00 in accor&Lnce with the terms. and caIYC itaons set forth in thpi attached '.contras Board -mdmb= .dYscussed 'Ways to fiiiarnce $1+ ,0001,00 purchase priQe -- bonding, bond anticipation Notes, bark login s or using current funds. Board, members concurred that we use current fundqs for $46,000,00 and to finance $100,000.00 for approXiMately ? - 7. 5% for five years (Teiss�xed each year at Curren inteTes't rate), since we don't want to loose our in't'erest on money cexrrcntly invested, Closing date for above transaction has been scheduled for September 15, 19840 Boa d membe7rs and Leland Cornelius Gleasons for Clark Street Extensio than hauling gravel from oux pit. tendent dig a couple test holes on if suitable for Fcg r7 1 11 project. Gleason should be in writing, dL scussed ur:�ingr gx-avel f c%m Rogex n project since it ifould be cheaper Board alleed that Highway Superin- Gleason Pro;pezty and use gravel Price per cubic yard of gravel from There being no further business, Mr. Sovocool Moved to adJotlrn meeting, seconded, by HTs. Robinson at 8:00 P,1l1, Unanimous Colleen D. Pierson Town Clerk A 1 • .7 1 r� Ti PURCHASE AGREEMENT New YGrk .r _., hereby ofFers ON2 � - - THOUSAND Dollars $ for the real property located in the Town of , County of TSRvjdw State of NY, known as Tax Map J221— and consisting of a lot measuring approximately 84MB south eide , and ail buildings. Said premises are owned by Of Street Trott New York[ For partimlar descrip #ion reference is hereby made to deed(s) covering said premises. &zlmg This conveyance sliall Include, frCC and clear of 2U Bens, all of tiroro follcm'ng _. .- _ _ � _•__i! -- TI -0000 -�i ��i�a��j aipment and personal d property. A16o intli 9F3CdF6d itotnsif presently en lha P1emisas .. -. - -- _ -- ......, .. NJ Nara e�Mr%ll ,01, 07 ; --,!71 :5��f�.�k'�1 +�'PrSY Var.';r.. 1A9 � �.e, ib; : V.11.� y1. 1b '6 i 4:{ s:�M:. ' ' M.If:a�. � \4a F Ir i.ilii a{.1'J•I +J4.51 i/. ' MINNOW" 5 Y + i ' 4 1 L •'1 Wot Buyer hereby deposits witht>ti~ X�_ in the amtrunt of , , .. $ IiLoo Said deposit to be held until the acceptance of this offer at which time any note or check small be converted to cash and held in escrow and become part of the purchase price. On rejection of this offer, deposit is to be returned, Buyer further agrees to deposit additional cash to be held in ewrow by'— — on or. before 1Gin ate aniountof' L 0009... I a•••- I....,....aa.0$� . a . . . , , r (Paragraphs A-BmCmdo not apply unless filled ill) A. The Buyer agrees to assme and pay the first mortgage lien ri m ow on said preises which provi u des for $ rnonthly payments that include interest at per annual, plies escrow, if any, and upon which there is now clue approximately . , , ... a 1 .. , , .. 0 0 A m m 9 9 J. m m m i r m A A I L 0 a 9 r r I a a 1 .. . . . ... . . . . . B. The Buyer will glue to the Seller a (first) (second }purchase money bond and mortgage upon said real Property, in cuAomaryform ,iirtheamout�tOf..., a .:...... ........ ....... ...... . .a...a....,,........,$� _ Said mortgage shall also provide for: 1. PayrrLont at the rate of S+ . per month to include interest at the rate of �. per annum with privilege of prepayment on any payment date. The entire balance and accrued interest shall be, duc and payable years from date of transfer. 2. (No) escrow payment equal to 1 112 total annual taxes and insurance, 3. First payment to be in ..,_ days after passing of deed or on 4. Penahy for late payment (2 of payment if 15 days late), 5- Callable on resale by #]ie buyer at the option of the Seiler. 69 Reasonable attorneys' tees in the event of a foreclosure. C. This agreement is conditioned upon the Buyer receiving assurance by 1 ofa First mortgage loan in the arn aunt of,.. .,aa....5......,.•.••a........• .. 0000.1•••• F 0000. payable $ I monthly including interest at % per annum, Buyer agrees to make his a '� application, in goad faith, withal idays after acceptance of tjris offer and to diligently process the same, 7r Upon receiving such assurance, the Buyer will notify the Seller and carry out his part of this Agreement, In #lle event that the Buyer is unabic to secure assurance of said mortgage loan, he will irnmediafeiy notify the Seller and iris deposit will be refunded and this contract shall become null ;rod void. ' D. Balance of purchase price in cash or by certified check on date of closing . a a 1 .. , 0 0 0 0 .. , .. =I ... , 1 .... 1 , .. - • S M ��a� Total Payment S ' � yyr " [J"L rZ)�7 Seller is to furnish; a good and sufficient warranty deed with lien covenant, or executor's or administrator's deed to the premises, a p SURVEY, if reasonably required by the attorney for the Buyer, ten yeartax searches, and an Abstract Company title search covering stq,�`i least fort y +ears to time of transfer, showing good and rarketable title, free of liens and encumbrances, except all rights of way and easements heretofore granted to Public Utility Corporations, and [lie following restrictions; Buyer's attorney shall hsvc abstract and Icgal papers for exarnireation at least twelve (12) days before closing. Jf defects are found in the title as shown by abstract, a written statement of objections shall be furnished, and seller shall have a reasonable tune, not oxceeding thirty (30) days, to snake said title marketable. The transfer is to be completed at the office of tits seller's attorney or the office of the lending institution for the buyer on or before Sept& 15 , 19 „84 —._ , or as soon thereafter as deed and abstract can be delivered, Water chwges11 tap Nbiqnt, , and interest on aqy niortgag6#gbe a9xur'1ed,•.fuell. in storage sawex. ci7ar�cs, are W.pe- prorated and ad- justed as of date of delivery of possession.'t`ax and�ewer adiustrnints shall be based on do fisc{w1 year For which they are assessed. if currant tax rates are not yet fixed, tax adjustment shall be on basis of t;ix rates for preceding Fiscal year, - ' The Seller represents that there are presently Linpaid assessments for local improvements in the amount of $ ""D" which ter{ shall be {pro -rated as of the date of delivery of possession based on the fiscal year for which assessed) or (paid by seller), Possession of premises shall be delivered on or before 32 Habe r 1 , 19 84 F sub ect to the rights of present tenants. The risk of loss or damage to prcinises by Fire or other causes until rdetvery of deed is assumed by the, eller. This offer shall remain open and good foi v181 days from noon of data hereof and if accepted, shall oonstitut� a birading contract of purchase and sale and it shall bind the heirs, executors, and assigns of both Buyer and Seller, This agreement is coutiingent upon the satisfactory completion of the following provisions (if cli.ccked), a detailed explanation of each appearing on the reverse side of this Agreement or Attached Exhibits ). I. ( ) FHA Appraised Value Clause 4a ( } Mortgagee +s Consent, to Assumption 7. ( ) FmHA Value Clause 2.( ) VA Appraised Value Clause 5.( ) Approval of Water System 8, ) Attached Addendum 3.( ) Sale A Buyer's Property 6.( ) Deposit Refund (FrnHA) 9, } bated: _ Witness: _ 19 . SL Buyer Buyer (I..;) (L,S.) - J-. , 19 . SL Buyer Buyer (I..;) (L,S.) l