2-26 FRONT STREET- SRA 2000 �f} a000
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STERN, KEILTY & WALL, LLC
Attorneys at Law .
ONE SALEM GREEN
SUITE 550
SALEM, MASSACHUSETTS 01970
TELEPHONE: 978-741-9200
FACSIMILE: 978-741-7620
DAVID M. STERN OFCOUNSEL
CHARLES J.KEILTY* Petersen&Spang,LLP
SUSAN P.WALL
ROBERT GIZMUNT
*Also admitted in New Hampshire
September 15, 2000
Robert Curran, Chairman
Salem Redevelopment Authority
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One Salem Green Z F-11
Salem, MA 01970 Z r
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RE: 2-26 Front Street z
Dear Mr. Curran:
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Please be advised that this office represents the owner of the above property
P P P Y
which is in the process of being sold. During due diligence, the parties realized that a
Certificate of Completion and Release of Conditions which was dated December 13,
1988, a copy of which is enclosed, contained certain errors of reference. I am enclosing
herewith a Confirmatory Certificate of Completion and Release of Conditions for your
signature. Could you kindly execute this instrument in front of a Notary Public and
return to me in the enclosed stamped envelope. Please feel free to call me for a further
explanation.
Thank you for your kind cooperation.
Very trul. s,
David M. Stern, Esquire
DMS/daj
Enclosure
D:kCLIENTS\Copley Investment\2-26 Front St\Salem Redevelopment-letter.doc
c. Al Ciccone
CERTIFICATE OF COMPLETION
AND
RELEASE OF CONDITIONS
SALEM REDEVELOPMENT AUTHORrrY,'a public body politic and corporate, duly
organized and existing pursuant to,the General Laws of Massachusetts, having its office in
Salem, Essex County, Massachusetts, the Grantor in a Contract for Sale of Land for
;private Redevelopment dated March 19, 1982, and the Grantor in a deed recorded with
Essex South District Registry of Deeds in Book 6941, Page 86 to Front Street Associates
Realty Trust under neclaration of Trust dated May 27, 1982 and recorded with said
Registry in Book 6941, Page 80, hereby release to the said.Trustees and other claiming
title by, through or under them by instruments of record the conditions, agreements,
restrictions and other terms contained in the covenants numbered ONE, TWO and THREE
of Section 3 of the Contract for Sale of Land for Private Development.
In addition, said Authority does hereby certify that all physical improvements
specified to be done in the Contract of Sale referred to therein have been performed and
completed in accordance with said Contract of Sale.
IN WrrNFSS WHEREOF, the said SALEM REDEVELOPMENT ATJTHORrfY has
caused its name to be signed and its corporate seal to be hereto affixed by its Chairman
hereunto duly authorized this day of OeUMiTe; 1984.
SALEMREDEVELOPMENT AUTHORITY
JOAN BOTTDREALi,'Chairman
COMMONWEALTH OF MASSACHTTSETTS
Essex, as. r 198?
Then personally appeared the above-named.Joan Boudreau, Chairman as aforesaid,
and acknowledged the foregoing instrufnent to be the free act and deed of the Salem
Redevelopment Authority, ber,)re me,
Notazy ublic % -
M44WP My.Commission Expires: THc d i9 y�/
CONFIRMATORY CERTIFICATE OF COMPLETION
AND
RELEASE OF CONDITIONS
SALEM REDEVELOPMENT AUTHORITY, a public body politic and corporate, duly
organized and existing pursuant to the General Laws of Massachusetts, having its office in
Salem, Essex County, Massachusetts, the Grantor in a Contract for Sale of Land for Private
Redevelopment dated March 19, 1982, and the Grantor in a deed recorded with Essex South
District Registry of Deeds in Book 6920, Page 730 to Gerard P. Maher, Trustee of Welch Family
Trust, u/d/t dated December 23, 1976 and recorded with said Deeds in Book 6312, Page 407,
hereby release to the said Trustee and other claiming title by, through or under him by
instruments of record the conditions, agreements,restrictions and other terms contained in the
covenants numbered ONE, TWO and THREE of Section 3 of the Contract for Sale of Land for
Private Development.
In addition, said Authority does hereby certify that all physical improvements specified to
be done in the Contract of Sale referred to therein have been performed and completed in
accordance with said Contract of Sale.
This Confirmatory Certificate of Completion and Release of Conditions corrects the
Certificate which was recorded on March 15, 1989 in Book 9924, Page 329, which certificate
contained an incorrect reference to the deed from the Grantor.
IN WITNESS WHEREOF, the said SALEM REDEVELOPMENT AUTHORITY has
caused its name to be signed and its corporate seal to be hereto affixed by its Chairman hereunto
duly authorized this /171 day of (!G 2000.
SALEM REDEVELOPMENT AUTHORITY
Robert Curran, Chairman
COMMONWEALTH OF MASSACHUSETTS
Essex, ss c-17-l"r 12000
Then personally appeared the above-named Robert Curran, Chairman as aforesaid, and
acknowledged the foregoing instrument to be the free act and deed of the Salem Redevelopment
Authority, before me,
.,,r, jXi`1'`�t✓ Notary Public
y Commission Expires: /Z12j /0
DACLIENTS\Copley Investment\2-26 Front StWonfirmatory Certificate.doc
D E E D
SALEM REDEVELOPMENT AUTHORITY, a public body politic
a, orporate, duly organized and existing pursuant to the General
La,., of Massachusetts, having its office in Salem, Essex County,
Nlda_ chusetts, in consideration of Twenty-Nine Thousand Five
Iui.. ad Forty Dollars ($29, 540. 00) paid, grants to J. NORMAN WELCH,
Jit_ an individual, of said Salem, with QUITCLAIM COVENANTS , all
hi::, fight, title and interest in and to the following described
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2� cain parcel of land, with the buildings thereon, situated
o, int Street, Salem, County of Essex, and bounded and described
a�3 Llows :
5kq, . ;RLY by Front Street, seventy-seven and 55/100
(77. 55) feet;
W'_ ,cLY by Parcel RC-11C, as shown on a plan hereinafter
referred to, fifty-one' and 39/100 (51. 39) feet;
1'ioi: .:RLY by land marked "12 feet wide open space easement"
on said plan, seventy-four and 78/100 (74. 78)
feet;
Ens tdY by Parcel RC-11D, as shown on said plan, thirty-
eight and 68/100 (38 . 68) feet.
S�,! i,arcel containing 3,399 square feet of land and shown as
P,�l i. R-8 on a plan entitled, "Property Plan Project No. Mass.
R--9 Heritage Plaza-East, Salem Redevelopment Authority, Salem,
M.,� Scale : 1" = 20' , dated July 20 , 1972 , Whitman & Howard,
L.c Engineers and Architects.
S.,i. remises' are conveyed together with a 12 foot easement as
d,a ,ated on said plan in common with others , to run with the
p, e ;es herein conveyed for ingress and egress of trucks and
oLlt vehicles from Central Street and Derby Square to be used
f�,r ,e purpose of loading and unloading or other servicing of
tl,e _,ilding situated thereon.
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A ain parcel of land, with the buildings thereon, situated
o,- nt Street, Salem, Essex County, and bounded and described
a.L, _ lows :
:RLY by Front Street, thirty-nine and 65/100 ( 39. 65) -
feet;
Evs .;LY by other land of the Salem Redevelopment Authority,
eighty-two and 35/100 (82 . 35) feet;
Su(-) RLY by other land of the Salem Redevelopment Authority,
forty and 4/100 (40. 04) feet;
Wry ;Ly by other land of the Salem Redevelopment Authority ,
eighty-two and 41/100 (82. 41) feet.
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a parcel containing 3,245 square feet of land and shown as
Pa 1 R-9A, on a plan entitled, "Property Plan Project No. Mass.
1:- , Heritage Plaza-East, Salem Redevelopment Authority, Salem,
Fla Scale : 1" = 20 ' , dated May 31, 1972, Whitman & Howard,
1-n Engineers and Architects.
u premises are conveyed subject to a Right of Way , as shown
-n ,id plan, for the benefit of the grantor, owner for the time
i,e i, of the land next Westerly to and adjoining said parcel of
JL_ hereby conveyed, and its successors and assigns and others
wh, ,tay be entitled thereto, which Right of Way is to be used
as pedestrian walk way and for vehicles for the purpose of
se_ _cing of the building situated on the parcel adjacent to and
bo. fed Westerly of the parcel herein conveyed.
tL 3 :
1, tain parcel of land, situated on Front Street, Salem, Essex
�'j. .y, and bounded and described as follows :
s ). ERLY by Front Street, fifty-three and 11/100 (53.11)
feet;
4 JL:- :RLY by land now or formerly of Freedman, fifty-six
and 28/100 , (56. 28) feet;
rw), ERLY by land marked "12 feet wide open space easement"
on plan hereinafter referred to, fifty-two and
2/100 (52 . 02) feet;
1-:1�; RLY by Parcel R-8, on said plan, fifty-one and 39/100
(51. 39) feet.
parcel containing 2 , 817 square feet of land and shown as
Pa.: .1 RC11C, on a plan entitled, "Property Plan Project No.
Ma:, R-95, Heritage Plaza-East, Salem Redevelopment Authority,
Sa] Mass. " Scale: 1" = 20' , dated July 20, 1972 , Whitman &
llo� d,Inc. , Engineers and Architects.
premises are conveyed together with a 12 foot easement as
d,,11 Bated on said plan in common with others, to run with the
PL, ses herein conveyed for ingress and egress of trucks and
0 .1 vehicles from Central Street and Derby Square to be used
f.,; Lie purpose of loading and unloading or other servicing of
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Li , ,gilding situated thereon.
k-, _tle of the Salem Redevelopment Authority, see Order of 'Pak-
in, dated April 3, 1972 , recorded with Essex South District Re-
g ," / of Deeds, on April 5 , 1972, in Book 5855 , Page 231; see
ai,: meed of Richard D. Hill, et al , to Salem Redevelopment
1,,o city, dated April 29 , 1971 , recorded with said Registry of
L)�_ Book 5761, Page 420; see also Deed of J. Norman Welch, Jr . ,
to Lem Redevelopment ,Authority, dated July 22 , 1971, recorded
.;aid Registry of Deeds , Book 5786 , Page 768 .
This Deed is made and executed upon and is subject to
.n express conditions and covenants, said conditions and
C� Ants being a part of the consideration for the property
P, conveyed and are to be taken and construed as running with
tl.e ..Lnd and upon the continued observance of which and each of
inti with the sole exception of covenants numbered FIRST and
Pi.f. the continued existence of the estate hereby granted shall
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ciao_ .d, and the Grantee hereby binds himself and his successors,
as ;ns, grantees, and lessees forever to these covenants and
co, :tions which covenants and conditions are as follows:
FIRST: The Grantee shall devote the property hereby
uu: yed only to the uses specifiedlin the applicable provisions
of .e Urban Renewal Plan or approved modifications thereof;
SECOND: The Grantee shall pay real estate taxes or
e,s;. .sments on the property hereby conveyed or any part thereof
wh, due and shall not place thereon any encumbrance or lien
otl than for temporary and permanent financing of construction
of ..e Improvements on the property hereby conveyed as provided
fo, n the Construction Plans; approved by the Grantor in accord-
am with Section 12 of the Contract of Sale dated the day of
No, ber, 1972 , between the parties hereto, (hereinafter referred
to the "Contract of Sale" ) which Contract of Sale is on file
in .,a office of the City Clerk of the City of Salem, and for
adu . ional funds, if any, in an amount not to exceed the consider-
ati herein specified, and shall not suffer any levy or attach-
mei: to be made or any other encumbrance or lien to attach until
tlr. ;rantor certifies that all building construction and other
pi � cal improvements specified to be done and made by the Grantee
hay been completed;
THIRD: The Grantee shall commence promptly the construc-
ti �f the aforesaid Improvements on the property hereby conveyed
in cordance with the said Construction Plans and shall prosecute
di] ,ently the construction of said Improvements to completion:
Proded, that in any event, construction shall commence within
fig- (5) days from the date of this deed and shall be completed
wit a twelve (12) months from the commencement of such construc-
tiu ;
FOURTH: Until the Grantor certifies that all the afore-
sca improvements specified to be done and made by the 'Grantee
hay, been completed, the Grantee shall have no power to convey
ti '- roperty hereby conveyed or any part thereof without the prior
wr:i an consent of the Grantor except to a Mortgagee or Trustee
LuAL a Mortgage or Deed of Trust permitted by this Deed, and,
exp L� as security for obtaining financing permitted by this Deed;
the shall be no transfer, and the Grantee shall not permit any
t u fer, by any party, owning ten percent or more of the stock
of a Grantee of such stock, nor shall there be, or be suffered
Lo by the Grantee, any other similarly significant change in
tiiau ,inership of such stock or in the relative distribution there-
of. i with respect to the identity of the parties in control of
tl ., rantee or the degree thereof, by any other method or means ,
j.i� ding, but not limited to, increased capitalization, merger,
C", rate or other amendments, issuance of additional or new
scc. or classification of stock, or otherwise ;
FIFTH: The Grantee agrees for himself and any successor
Ali serest not to discriminate upon the basis of race , color,
religion, or national origin in the sale, lease , or rental
or the;;'
µse or occupancy of the property hereby conveyed or any
Pal chereo'f or of any Improvements erected or to be erected
tjLu in or any part thereof.
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The covenants and agreements contained in the covenant
,red FIRST shall terminate on March 23, . 2012. The covenants
an, .greements contained in covenants numbered SECOND, THIRD and
FOS H shall terminate on the date the Grantor issues the Certi-
f:i, . e of Completion as herein provided except only that the ter-
ni. _i.on of the covenant numbered SECOND shall in no way be
con-st: d to release the Grantee from hiscbligation to pay real
esu e taxes or assessments on the property hereby conveyed or
an, ,art thereof. The covenant numbered FIFTH shall remain in
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ef., .;t without any limitation as to time.
In case of the breach or violation of any one of the
Co. _.ants numbered SECOND, THIRD and FOURTH at any time prior to
th, , ime the Grantor certifies that all building construction and '
ot.i physical improvements have been completed, and in case such
br, a or such violation shall not be cured, ended or remedied
wi-, n sixty (60) days after written demand by the Grantor so to
do t1i respect to covenant numbered FOURTH and three (3) months
af, written demand by the Grantor so to do with respect to
e0, ants numbered SECOND and THIRD (provided, that a breach or
vi, tion with respect to the portion of covenant numbered THIRD,
(le, ng with completion of the improvements may be cured, ended
or , uedied within six (6) months after written demand by the
Gr,_. . or so to do) or any further extension thereof that may be
grc, ed by the Grantor in its sole discretion, then all estate,
col yed under this Deed, shall cease and determine, and title in
fa i.mple to the same shall revert ,to and become .revested in the
Grt. or, or its successors or assigns, and such title shall be
r,a\ ted fully and completely in it, and the said Grantor, its
sa, ssors or assigns, shall be entitled to and may of right enter
up, and take possession of the said property: Provided, that any
su( revesting of title to the Grantor :
(1) Shall always be subject to and limited by , and shall
not defeat, render invalid, or limit in any way
(i) the lien of any mortgage or Deed of Trust
permitted by this Deed; and
(ii) any rights or interests provided in the Cori-
tract of Sale for tieprotection of the trustees
of any such Deed of Trust or the holders of
any such mortgage; and
(2) In the event that title to the said property or
part thereof shall revest in the Grantor in accord-
ance with the provisions of this Deed, the Grantor
shall pursuant to its responsibilities under appli-
cable law use its best efforts to resell the property
or part thereof (subject to such mortgage liens as
hereinbefore set forth and provided) as soon and in
such manner as the Grantor shall find feasible and
consistent with the objectives of such law, and of
the Urban Renewal Plan, to a qualified and respon-
sible party or parties (as determined by the Grantor)
who will assume the obligation of making or complet-
ing the Improvements or such other improvements in
their stead as shall be satisfactory to the Grantor
and in accordance with the uses specified for the
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above described property or any part thereof in the
Urban Renewal Plan. Upon such resale of the pro-
perty the proceeds thereof shall be applied:
FIRST: to reimburse the Grantor, on its own behalf
or on behalf of City of Salem for all costs and
expenses incurred by the Grantor including, but
not limited to, salaries of personnel in connection
with the recapture, management and resale of the
property or part thereof (but less any income de-
rived by the Grantor from the property or part
thereof in connection with such management) ; all .
taxes, assessments, and water and sewer charges
with respect to the propbrty or part thereof; any
payments made or necessary to be made to discharge
any encumbrances or liens existing on the property
or part thereof at the time of revesting of title
thereto in the Grantor or to discharge or prevent
from attaching or being made any subsequent encum-
brances or liens due to obligations, defaults, or
acts of the Grantee, his successors, or transferees;
and expenditures made or obligations incurred with
respect to the making or completion of the Improve-
ments or any part thereof on the property or part
thereof; and any amounts otherwise owing the Grantor
by the Grantee and his successors or transferees;
and
SECOND: to reimburse the Grantee, his successors
or transferees up to an amount equal to the sum of
the purchase price paid by it for the property (or
allocable to the part thereof) and the cash actually
invested by it in making any of the Improvements on
the property or part thereof , less any gains or
income withdrawn or made by it from this conveyance
or from the property.
Ai ,y aiance remaining after such reimbursements shall be retained
Ly Grantor.
The Grantor shall be deemed a beneficiary of covenants
Lid FIRST through FIFTH, and the United States shall be
i: . d a beneficiary of the covenant numbered FIFTH, and such cove-
Iia,_ shall run in favor of the Grantor and the United States for
tiie „tire period during which such covenants shall be in force
a„,o ffect, without regard to whether the Grantor and the United
Scc, is or remains an owner of any land or interest therein to
wi,i such covenants relate. As such a beneficiary, the Grantor,
i_', event of any breach of any such covenant, and the United
Si_,, in the event of any breach of the covenant numbered FIFTH,
sl, , i,ave the right to exercise all the rights and remedies , and
L” .ntain any actions at law or suits in equity or other proper
.,dings to enforce the curing of such breach, to which bene-
fic cies of such covenant may be entitled.
Promptly after the completion of the above-mentioned
jements in accordance with the provisions of the Construction
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L.L. the Grantor will furnish the Grantee with an appropriate
in: ament so certifying in accordance with the terms of the
Co., act of Sale. Such certification (and it shall be so
pr, ded in the certification itself) shall be a conclusive
det . mination of satisfaction and termination of the agree-
me, and covenants in the Contract. of Sale and in this Deed
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obi ating the Grantee and its successprs and assigns, with
re-. .ct to the construction of the Improvements and the dates
fo .,eginning and completion thereof: Provided, that if there
is on the property a mortgage insured, or held or owned, by
th.. ederal Housing Administration and the Federal Housing Admi-
ni:_ ation shall have determined that all buildings constituting
a L t of the Improvements and covered by such mortgage are, in
f. ' substantially completed in accordance with the Construction
P1, and are ready for occupancy, then, in such event, the
Gr . . or and the Grantee shall accept the determination of the
Fe- al Housing Administration as to such completion of the
co . ruction of the Improvements in accordance with the Con-
st. tion Plans, and, if the other agreements and covenants
in _e Agreement obligating the Grantee in respect of the con-
Sri and completion of the Improvements have been fully
sat fied and the ' Grantor shall forthwith issue its certifica-
ti, and such determination shall not constitute evidence of
con. . iance with or satisfaction of any obligation of the Grantee
to y holder of a mortgage, or any insurer of a mortgage, secur-
in., Toney loaned to finance the Improvements, or any part there-
of.
The certification provided for in the paragraph next
CiDu shall be in such form as will enable it to be recorded
in proper office for the recordation of deeds and other
i„_, aments pertaining to the property hereby conveyed. If
tnt cantor shall refuse or fail to provide such certification,
t1., cantor shall, within thirty (30) days after written request
DY e Grantee provide the Grantee with a written statement,
i. .,, Ming in what respects the Grantee has failed to duly com-
pi� said Improvements and what measures or acts will be neces-
s.,, in the opinion of the Grantor, for the Grantee to take or
Pa; cm in order to obtain such certification.
The Grantor c2rtifies that all conditions precedent to
tut alid execution and delivery of this Quitclaim Deed on its
pai. nave been complied with and that all things necessary to
cu,, itute this Quitclaim Deed, its valid, binding and legal
a;1 uient on the terms and conditions and for the purposes set
ful herein have been done and performed and have happened, and
the. the execution and delivery of this Quitclaim Deed on its part
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c. been and are in all respects authorized in accordance with
lc,. The Grantee similarly certifies with reference to its exe-
uc. ,n and delivery of this Quitclaim Deed.
WITNESS the execution hereof on this day of
Nv ,,,ber, 1972.
SALEM REDEVELOPMENT AUTHORITY
By
TIMOTHY J. NOONAN, CHAIRMAN
J. NORMAN WELCH, JR.
gal:. _SS :
THE COMMONWEALTH OF MASSACHUSETTS
i:s:.. ;, ss. November 1972
Then personally appeared the above-named Timothy J.
wj., _,n, Chairman as aforesaid, and acknowledged the foregoing
in,-. Liment to be the free act and deed of the Salem Redevelopment
AuL. .city.
MY �: i.i:=: ,.. :X'.-,Rte
pec. ts, 1975
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