THERMAL CIRCUITS BUILD OUT LOAN AND GRANTS / "fbit/rna,Q (;crcu,ids ' ��tnanl.�v�, r
, .�
I
THERMALspecializing in the design, engineering and
INUH CIRCUITS-0 production of surface heaters, air heaters, molded heaters,
heater assemblies, and infrared panel emitters
August 24, 1998
Fafard Real Estate And Development Corp. 0-
290 Eliot Street 7Z, �r ex
Ashland, MA 01721
Attn: Mr. Howard Fafard i,
Dear Howard,
,
Nearly two-and-one-half years ago, Thermal Circuits moved into it's newly constructed 32,000 sq.
ft. facility at One Technology Way in Salem. In September, a 20,000 sq. ft. addition to this facility
will be completed making a total of$2.7mm invested in Technology Park by Thermal Circuits.
Unfortunately, our investment in Technology Park remains solitary.
From our viewpoint, Technology Park has served as a strip-mine-staging-area for other Fafard
projects. The road has never received its finish coat and has started to deteriorate especially
around catch basins and man holes, and the area at the entrance to the front lot adjacent to our
lot. Side walks, temporary at best, remain unsafe and impassable. The entrance to the Park is
unsightly and requires extreme caution when entering or exiting in any amount of traffic. The
general appearance of the Park is a prime reason why vandalism is on the increase. We have
been told by your people numerous times that these issues are being addressed. Still nothing
happens.
Our desire to see Salem prosper with a commercially and technically vibrant Technology Way
remains undaunted.
Please provide us with your plans to address these issues as soon as possible.
Yours very truly,
THERMAL CIRCUITS INC.,
Anthony A. Klein -` W
President
cc: Mayor Stanley J. Usovicz, Jr. ` ='.' n
Dave Abbot \`:
Jack Kellogg 7
G� -to",
Thermal Circuits Inc. One Technology Way Technology Park Salem, Massachusetts 01970-7000
PHONE 800.808.HEAT(4328) EMAIL 808heat@thermalcircuits.com WEB www.thermaicircuits.com FAX 978.741.3420
CITY OF SALEM, MASSACHUSETTS
PLANNING DEPARTMENT
WILLIAM E. LUSTER ONE SALEM GREEN
City Planner ► s 01970
t` `o (508) 745-9595. EXT. 31
,y � r FAX (508) 744-5918
September 12. 1995
Anthonv A. Klein, President
Thermal Circuits. Inc.
4 Jefferson Ave.
Salem. MA 01970
Dear Mr. Klein:
Attorney Ellen Winkler has requested that the City write a letter of commitment,
outlining its role in the development of a new Thermal Circuits plant on Technology Way in
Salem.
Please consider this letter as evidence of the City's commitment to provide the following
forms of financial assistance:
• $50,000 no-interest. deferred loan to be repaid when the company sells its
Jefferson Avenue facility
• $19,000 erant to defrav the cost of site work
• $12,500 grant to defray the cost of construction
The City intends to make the loan and to provide the other funds at the time of your
closing on the property with Fafard Real Estate and Development.
If you have any questions about this matter, please feel free to contact me.
erely.
illiam er
City PI
cc: Attorney Ellen Winkler. Serafrni. Serafini& Darling
t
SERAFINI, SERAFINI AND DARLING
ATTORNEYS AT LAW
63 FEDERAL STREET
SALEM, MASSACHUSETTS 01970
JOHN R, SERAFINI. SR. TELEPHONE
JOHN R. SERAFINI,JR. 508-744-0212
JOHN E. DARLING 617 581-2743
ELLEN M. WINKLER
TELECO PIER
JOSEPH C. CORRENTI November 6, 1995 508741-4683
VIA HAND DELIVERY
Ms., Michelle Camarata
City of Salem Planning Department
One Salem Green
Salem, MA 01970
Re: Swampscott Road, Salem, Massachusetts
Dear Michelle:
Enclosed please find the following:
1. Original Loan Agreement executed by KAK Associates, KAK
Realty Trust, Jefferson Realty Trust and the City;
2 . Copy of a Trustee' s Certificate for KAK Realty Trust,
filed as Document No. 313353 ;
3 . Copy of the Mortgage granted by KAK Realty Trust to the
City on One Technology Way, filed as Document No. 313354 ;
4. Copy of a Trustee's Certificate of Jefferson Realty
Trust, recorded at Book 13269, Page 178;
5. Copy of the Mortgage granted by Jefferson Realty Trust
to the City on 4 Jefferson Avenue, recorded at Book
13269, Page 179;
6. Copy of the Deed from Fafard Real Estate and Development
Corp. to the City, filed as Document No. 313347; and
7. Copy of the Deed from Fafard Real Estate and Development
Corp. to KAY Realty Trust, filed as Document No. 313349.
Kindly forward a check in the amount of Forty and No/100
($40. 00) Dollars payable to Serafini, Serafini and Darling, to
cover the cost of recording the deed for Technology Way.
If you have any questions, or would like copies of additional
documentation, please feel free to call.
i
Ms. Michelle Camarata
Page Two
November 6, 1995
Thank you for your assistance in bringing this matter to its
long-awaited conclusion.
Very truly yours,
Ellen M. Winkler
EMW:cbg
Enclosures
JI�J 7
MASSACHUSETTS OUITCLAM DEED BY CORP ATION (SHO/T FOAM) 684
-SSEX SOUTH REGISTRY DISTRICT.
Fafard Real Estate and Development Corp.
a corporation duly established under the laws of the Commonwealth of Massach' u�—
and having its usual place oEbuslness at - 290 Eliot Street, Ashland, MidkUser,3 � �ii
�– assachuselts
ECIEVEDO'CLOC Mars
o
for consideration paid, and in full consideration of Four Hundred Fifty T ousan an 717"T
(
t4?0 000.00) 1 ;E'-ISTRATIONBK
gY nfstb The City of Salem, Massachusetts a municipal Corporation
of 93 Washington Street, Salem, MA 01970
with rluiTrltttltt•ruuennnfa
the land in Salem, Essex County, Massachusetts, described as follows:
(Description and encumbrances,if any)
�Itt ritttnPss m1PrPnf, thesaid Fafard Real Estate and Development Corp.
has caused its corporate seal to be hereto affixed and these presents to be signed, acknowledged and delivered
in its name and behalf by Howard A. Fafard its President and Treasurer
ikx hereto duly authorized, this a ��
day of September in the year one thousand nine hundred and ninety–five
Sig^and sealed in presence of Fafard Real Estate and Development Corp.
1 .................................................
. . . .......
1 . .... . ...... ... ....
....
by Howard A. Fafard, President and Treasurer
– �, - - �E?e Luunnn?ttuPnit!I Lf�.41'{ttttauriiugelYa. �*!"
Middlesex ss. September 2.91 19 95
Then personally appeared the above named Howard A. Fafard, President and Treasurer
and acknowledged the foregoing instrument to be the free act and deed of the Fafard Real Estate andDevelopment Corp.
before me
> .................. .........................
Notary P/u/hlir --iustirc of the Pearc
My commission %spires ......................((� 6. ............... 19
CHAPTER 183 SEC. 6 AS AMENDED BY CHAPTER 497 OP 1969
Every deed presented for record shall contain or have endorsed upon it the full name, residence and post office address of the gramec and
a recital of the.amount of the full consideration thereof in dollars or the nature of the other consideration therch,r, if not delirerc%I for a
specific monetary sum. The full consideration .%hall mean the total price for the conveyance %6-hout deduction for any liens or ennuchr,.na•.
assunud by the grantee or remaining thereon. All such ctldorsl•Illents slid recitals shall be ranr•IcJ as pan Of the decd. Poihoe n, with
this section shall not affect the validity of any deed. No register of devilsshall accept a deed t'-,r recording unless it i% in co lid:: he
requirements of this section.
EXHIBIT"A"
That certain parcel of land in Salem, Essex County, Massachusetts, located on
Technology Way and shown as Lot 723 and as "Technology Way" shown on a plan
of land entitled:
Subdivision of Lot 698 Land Court Case No. 11802 Definitive Pian of
Land in Salem, MA Owner: Fafard Real Estate and Development
Corp., 290 Eliot Street, Ashland, MA 01721, Prepared by: Fafard
Real Estate and Development Corp., 290 Eliot Street, Ashland, MA
01721, Date: 24 March 1995, Scale: 1" = 100' recorded with the
Land Court Engineering Department on a'uEo61 ' , 1995 as
Plan No. 11802 - 54.
Grantor, its successors and assigns, reserves the right and easement, in common
with those lawfully entitled thereto, to use Lot 723, "Technology Way", as shown
on said plan, for all purposes as streets, roads and ways are commonly used in the
Commonwealth of Massachusetts.
The lot herein conveyed is subject to easements, restrictions and rights of way of
record, if any, as the same are now in force and applicable.
The lot herein conveyed is not all or substantially all of the Grantor's assets in the
Commonwealth of Massachusetts.
For title see Certifcate 62422 Essex South District of the Land Court.
fovns/Salex723 LAND TON, The land
hereinja
shown on
our approved plan to follow as
OCT 25 1995;1 //•� 1
Plan 11802— ' Cot��1![�t
(EXAMINED AS TD DESfi.R 704 Q�Y1
Louis A Mmra, w,
MASSACHUSETTS QUITCLAIM DEED BY CORP RATION tSHORT FORM) 004
ESSEX SOL: J y 7
Fafard Real Estate and Development Corp. j
corporation duly established under the laws of the Commonwealth of Ma tsachusetts `� 8
-rd having its usiaa{ pfa<e of business at 29D Eliot Street, "Island, Middl4M , '1}
O'CLOCK__„M_
j- Country, Massachusetts
na .I,, )-.! RI(
>r consideration paid, and in full consideration of C(� -
:an[sto JOHN H. KELLOGG, TRUSTEE OF KAK REALTY TRUST undef Declaration of Trust of even date,
filed herewith, /NA 0/uZ%
with quifrlatul raueuttnfs .
eland in Salem, Essex County, Massachusetts , moreparticularlydescribed in Exhibit "A",
attached hereto.
(Description and encumbrances,if any)
The lot herein conveyed is not all or substantially all of the Grantor's assets
in the Commonwealth of Massachusetts.
In witmwi w4jm if, thesaid Fafard Real Estate and Development Corp.
as caused its corporate seal to be hereto affixed and these presents to be signed, acknowledged and delivered
1 its name and behalf by Howard A. Fafard, President and Treasurer
hereto duly authorized, this a`7.}h
1Y of QCfD 8 ER in the year one thousand nine hundred and ninety-five
gned and sealed in presence of
Fafard Real Estate and Development Corp.
......................................
...............
,.. .�..
by Howard„A. Fafard
........................... .......................
President and Treasurer
011e (gal”In0171 131111 of lttnattrlfuarffa
Middlesex ss. IGCTDBER 27 19 95
Then personally appeared the above named Howard A. Fafard, President and Treasurer
d acknowledged the foregoing instrument to be the free act and deed of the Fafard Real Estate and
velopment Corpbefoteme
....ec.-
.........
Notary pt -LLuirc nF the Parc
Dry commission c;vpires .............. /[,... /// �......... I J
CHAPTER 183 SGC. 6 AS AMENIDGD BY CHAPTER 497 OP 1969
Every deed presented for record shall contain or have endorsed upon it the full name, residence and post office address of rhe gramce and
:,,at of dm amount of the full consideration ther4of in dollars or the nature of the olhcr consideration therefor, if not delivered for a
ilic monetary sum. 'fhe full cnnsideratimt shall mean the total price for the mna•ey:mre without deduction for any liens Br enrnmhrantty
.rued by the grantee or remaining thertvn, All such endorscnsems and recitals shall be renmlvd as pan of the d,,,i. Failure In nt•� i.I.,with
:cairn shall not nifert flue validity of Roy dceJ. No register of deeds shall accept a deed f"r recording unless it is in Ixcnp! :::, .,:it!I the
:iremcnis of this section.
10/05/95 THU 18:44 FAX 508 741 4883 SERAFINI&DARLING U004 I�
EXHIBIT A
That certain parcel of land situated on Technology Way, in Salem,
Essex County, Massachusetts, and being shown as Lot 722, containing
4. 1 acres, more or less on a plan of land entitled: Subdivision
of Lot 698 Land Court Case No. 11802 Definitive Plan of Land in
Salem, MA owner: Fafard Real Estate and Development Corp. , 290
Eliot Street, Ashland, MA 01921, Prepared by: Fafard Real Estate
and Development Corp. , 290 Eliot Street, Ashland, MA 01721, Date:
24 March 1995, Scale: 1" - 100' recorded with the Land Court
Engineering Department onl0�, 1995, as Plan No. 11802-5-+-.
All of said boundaries are determined by the Court to be located
as shown upon Plan numbered 11802-_5+, drawn by Fafard Real Estate
and Development Corp. , dated March 24, 1995, as medified and
the L iled the T. tratle" affle
sepy f + Lten 1.' h t - _"_led w4th eertjfieata�ill!10 NO.
in the Registered T A r-AntleR at
and the above described land isshownas Lot 722
on last mentioned plan.
Said Lot 722 is conveyed subject to a thirty (30) foot wide Utility
Easement, reserved for the benefit of grantor Fafard Real Estate
and Development Corp. , its successors and assigns. Grantor shall
install initial utilities within said Easement area on or before
December 7, 1995. Subsequent to that date Grantor, its successors
and assigns, shall give ten (10) days written notice to Grantee,
its successors and assigns, of its intention to excavate the
easement area for the purposes stated below. Evidence of
reasonable insurance coverage for Grantor, its successors and
assigns will also be required at this time. Said purposes shall
be the installation, upgrading, expansion, maintenance, repair,
replacement, operation or termination of one or more utility line
or lines within the easement area, all of which rights are reserved
hereunder to Grantor, its successors and assigns. The easement
rights herein retained by Grantor shall not unreasonable interfere
with Grantee, its successors and/or assigns use of the premises
herein conveyed. Grantor, its successors and assigns, after
excavation of the easement area, shall restore the area to the same
or better condition as existed prior to said excavation.
Said Lot 722 is conveyed with the right to use, in common with
others lawfully entitled thereto, Lot 723 shown as Technology Way
on said Plan, for all purposes as streets, roads and ways are
commonly used in the Commonwealth of Massachusetts. Fafard Real
Estate and Development Corp. , its successors and assigns, reserves
the fee interest in said Lot 723, shown as Technology Way.
Said Lot 722 is conveyed subject to the following easements,
restrictions and rights of way of record, insofar as the same are
now in force and applicable: LAND C T STON, The lane
herein rill be shown on
our approved plan to follow as
OCT 25 1995
Plan I
(EXAMINED AS TO DESCRIPTION ONI.Y
Lo is A. Moore, Engin-.P.
n
1. A Taking of Easement by the Essex County Commissioners, dated
July 16, 1963, and filed as Document No. 106456 in said
Registry of Deeds, and shown on plan filed with said Document.
2. A Taking of Easement by the City of Salem, dated July 8, 1965,
as described in Document No. 115868 in said Registry of Deeds.
3 • A Taking of Easement by the Essex County Commissioners, dated
November 6, 1966, and filed as Document No. 121948 in said
Registry of Deeds.
4. A Special Permit from the City of Salem dated August 2, 1985,
filed as Document No. 204357 in said Registry of Deeds.
5. A Decision of the City of Salem Planning Board dated August
2, 1985, filed as Document No. 206104 in said Registry of
Deeds.
The above described land is subject to an Easement granted to New
England Telephone and Telegraph Company dated July 30, 1985, filed
as Document No. 203793 in said Registry of Deeds.
The above described land is subject to a Declaration of Restrictive
Covenant dated May 14, 1986, filed as Document No. 212087 in said
Registry of Deeds.
The above described land is subject to certain rights and easements
in favor of Lot 699 as described in Document No. 206220 in said
Registry of Deeds, insofar as the same are now in force and
applicable.
The above described land is subject to Order of Conditions No. 64-
152 issued by the Salem Conservation Commission, filed as Document
No. 239892 in said Registry, as extended by Extension Permits dated
October 16, 1991, September 23, 1993 , October 28, 1993, February
24, 1994, April 28, 1994, and July 28, 1994, filed as Documents No.
266244, No.3k333a , No. 313333 , NO. 31333�F, NO.-31 3335, and
No. 31 3 3i� , respectively, and as Amended by Amendment dated
G45, , and filed as Document NO.
Registry of Deeds. 3i 333 in said " r
The above described land is subject to Order of Conditions No. 64-
178 issued by the Salem Conservation Commission, filed as Document
No. 245902 in said Registry, as extended by Extension Permits dated
October 22, 1992, September 23, 1993, October 28, 1993 , February
24, 1994, April 28, 1994, and July 28, 1994, filed as Documents
No. 3k33,x� , No.-3 \ 33�nk7I No. 3\33aCs No. '313 4 , No.3\ 333x,
and No. 3133 3 , respectively, in said Registry of Deeds.
-2-
i
The above described
land issubject to a Special Permit Decision
of the City of Salem Planning Board, filed with the Salem City
Clerk on April 24, 1995, as amended by a Decision filed with
Salem Clerk on September 25, 1995, filed as Documents . 31 'St
3y G
and No. ' i33•{ � , Norespectively, in said Registry of Deeds.
The above described land is subject to a Subdivision Decision of
the City of Salem Planning Board, filed with the Salem City Clerk
on April 24, 1995, filed as Document No. 3 (3 3.13S in said Registry
Of Deeds, and the Release issued therewith, filed in said Registry
of Deeds as Document No. 3 l 33 3�( .
Said Lot 722 is conveyed with the benefit of an Encroachment
Easement dated March 25, 1991, filed as Doci}ment No. 262345 in said
Registry of Deeds, insofar as the same 41s now in force and
applicable.
For grantor's title see Certificate of Title No. 62422 in said
Registry of Deeds.
r
I
t
1
I
' f
I
-3- I
1/thermald.eed-10/27
KAK ASSOCIATES
4 Jefferson Avenue
Salem, MA 01970
INVOICE
September 20, 1995
TO: The City of Salem
AMOUNT: $50,000
DESCRIPTION: These funds shall be the principal amount of a low-interest, deferred loan
to enable KAK Associates to purchase land at Technology Way in Salem,
where KAK Associates will develop a 32,000 s.f. facility for Thermal
Circuits, Inc.
DATE DUE: September 22, 1995
KAK ASSOCIATES
4 Jefferson Avenue
Salem, MA 01970
INVOICE
September 20, 1995
TO: The City of Salem
AMOUNT: $31,500
DESCRIPTION: This grant of$31,500 will be used to defray the cost of construction and
site work in the development of a 32,000 s.f. facility for Thermal Circuits,
Inc. at Technology Way in Salem.
DATE DUE: September 22, 1995
CITY OF SALEM, MASSACHUSETTS
PLANNING DEPARTMENT
WILLIAM E. LUSTER ONE SALEM GREEN
City Planners
01970
(508) 745.9595, EXT. 31FAX (508) 744-5918
September 12, 1995
Anthony A. Klein, President
Thermal Circuits, Inc.
4 Jefferson Ave.
Salem, MA 01970
Dear Mr. Klein:
Attorney Ellen Winkler has requested that the City write a letter of commitment,
outlining its role in the development of a new Thermal Circuits plant on Technology Way in
Salem.
Please consider this letter as evidence of the City's commitment to provide the following
forms of financial assistance:
• $50,000 no-interest, deferred loan to be repaid when the company sells its
Jefferson Avenue facility
• $19,000 grant to defray the cost of site work
• $12,500 grant to defray the cost of construction
The City intends to make the loan and to provide the other funds at the time of your
closing on the property with Fafard Real Estate and Development.
If you have any questions about this matter, please feel free to contact me.
i erely.
111iam ter
City PI
cc: Attorney Ellen Winkler, Serafini. Serafini& Darling
SERAFINI, SERAFINI AND DARLING
ATTORNEYS AT LAW
63 FEDERAL STREET
SALEM. MASSACHUSETTS 01970
JOHN R. SERAFINI. SR. TELEPHONE
JOHN R. SERAFINI.JR. 500-7440212
JOHN E. DARLING 617-501-2743
ELLEN M. WINKLER
T ELECO PIER
JOSEPH C. CORRENTI November 6, 1995 506-741-4603
VIA HAND DELIVERY
Ms. Michelle Camarata
City of Salem Planning Department
One Salem Green
Salem, MA 01970
Re: SNampSCOtt Road, Salem, Massachusetts
Dear Michelle:
Enclosed please find the following:
1. Original Loan Agreement executed by KAK Associates, KAK
Realty Trust, Jefferson Realty Trust and the City;
2 . Copy of a Trustee's Certificate for KAK Realty Trust,
filed as Document No. 313353 ;
3 . Copy of the Mortgage granted by KAK Realty Trust to the
City on One Technology Way, filed as Document No. 313354 ;
4. Copy of a Trustee's Certificate of Jefferson Realty
Trust, recorded at Book 13269, Page 178 ;
5. Copy of the Mortgage granted by Jefferson Realty Trust
to the City on 4 Jefferson Avenue, recorded at Book
13269, Page 179 ;
6. Copy of the Deed from Fafard Real Estate and Development
Corp. to the City, filed as Document No. 313347 ; and
7. Copy of the Deed from Fafard Real Estate and Development
Corp. to KAK Realty Trust, filed as Document No. 313349.
Kindly forward a check in the amount of Forty and No/100
($40. 00) Dollars payable to Serafini, Serafini and Darling, to
cover the cost of recording the deed for Technology Way.
If you have any questions, or would like copies of additional
documentation, please feel free to call.
Ms. Michelle Camarata
Page Two
November 6 , 1995
Thank you for your assistance in bringing this matter to its
long-awaited conclusion.
Very truly yours,
/i
Ellen M. Winkler
EMW:cbg
Enclosures
IRAN AGREEMENT
AGREEMENT made this day of (j6
YD hey- , 1995 by and
between KAK Associates, a Massachusetts general partnership of
Salem, Essex County, Massachusetts ("KAK") , John H. Kellogg,
Trustee of KAK Realty Trust, u/d/t dated 06(nhz,✓ a2, 1995,
filed with the Registered Land Division of the Essex South District
Registry of Deeds as Document No. 3133`(';5 ("KAK Realty Trust") ,
John H. Kellogg, Trustee of Jefferson Realty Trust, u/d/t dated
December 12, 1984 , recorded in the Essex South District Registry
of Deeds, Book 7603 , Page 446 ("Jefferson Realty Trust") , and the
City of Salem, a municipal corporation (the "City") , acting by and
through its Planning Department.
WHEREAS, Jefferson Realty Trust is the owner of real property
located at 4 Jefferson Avenue, Salem, Essex County, Massachusetts
(the "Jefferson Avenue Site") , which property presently houses
manufacturing facilities operated by Thermal Circuits, Inc. , a
Massachusetts corporation ("Thermal") ; and
WHEREAS, KAK Realty Trust is the prospective Buyer of real
property situated off Swampscott Road in Salem, Massachusetts,
shown as Lot 722 on a subdivision plan entitled "Subdivision of Lot
698, Land Court Case No. 11802, Definitive Plan of Land in Salem,
MA" dated March 24, 1995, under an agreement for the purchase and
sale of said Lot 722 dated October ,, 1995; and
WHEREAS, Thermal intends to relocate its manufacturing
facilities from the Jefferson Avenue Site to new facilities to be
constructed by KAK on Lot 722 ; and
WHEREAS, the City has agreed to make an interest-free loan to
KAK in the amount of Fifty Thousand and No/100ths ($50, 000. 00)
Dollars, to help KAK and KAK Realty Trust offset the cost of the
purchase of Lot 722 ;
NOW, THEREFORE, in consideration of the mutual obligations and
agreements set forth below, the parties hereto agree as follows:
1. At the time of closing on KAK Realty Trust's purchase of
Lot 722, the City will make an interest-free, deferred loan in the
amount of Fifty Thousand and No/100ths ($50, 000. 00) Dollars to KAK
to be applied to the cost of said purchase.
2 . Such loan will be repaid by KAK upon the sale of the
Jefferson Avenue Site.
3 . KAK's obligation to repay the Fifty Thousand and
00/100ths ($50, 000. 00) Dollars loan will be secured by a mortgage
placed on the Jefferson Avenue Site which shall be subordinate to
the Jefferson Realty Trust's existing mortgages to Shawmut
Merchants Bank, N.A. and the Small Business Administration and a
mortgage to be placed on Lot 722 which will be subordinate to
Eastern Bank and the Small Business Administration.
IN WITNESS WHEREOF, KAK Associates, KAK Realty Trust,
Jefferson Realty Trust and the City have caused this Agreement to
be executed as a sealed instrument on the day and year first
written above.
KAK ASSOCIATES ll
By:
A onyrKlein,
e ral Partner/
David M. Abbot,
General Partner
By• � �•�.�
n H. Kellogg,
General Partner
KAK REALTY TRUST
By• � -s—
hn H. Kellogg, T e
JEFFERSON REALTY TRUST
By• 2s
n H. Kellogg, tee
CITY OF SALEM )
By•'
3\thermal\loan.agr
313 3S3
SCLiTH S-EGISTFY D'S-'•-'.
CERTIFICATE OF TRUSTEE
NOV 31
The undersigned, John H. Kellogg,':PeR. tF
o eal y
Trust under Declaration of Trust dated October 277'_ttl.-ed -
with the Registered Land Division of the 'E's AJ$M K District
Registry of Deeds as Document No. 313 34/9 , here y hat:
1. I am the only Trustee of the said Trust;
2. The Trust has not been altered, amended, revoked or
terminated, except as aforesaid, and is in full force and
effect;
3 . I have been directed by the beneficiaries of said Trust
to execute and deliver a Loan Agreement and Mortgage to
the City of Salem (the "Mortgagee") concerning real
property, title to which is held by me as Trustee of this
Trust at One Technology Way, Salem, Massachusetts, which
Mortgage will secure the repayment of a $50, 000 grant
from the City of Salem to KAK Associates for the purchase
of real property located at One Technology Way, Salem,
Massachusetts;
4. The beneficiaries of this Trust are above the age of
majority and are not incapacitated.
IN WITNESS WHEREOF, I have set my hand and seal this
-1h day of n(,ftj X4 , 1995.
hn H. Kellogg, TIIQZ
de
COMMONWEALTH OF MASSACHUSETTS
Essex, ss. _LC,&kX,7 3f?) , 1995
Then personally appeared the above-named John H. Kellogg,
Trustee as aforesaid, and acknowledged the foregoing instrument to
be his free act and deed, before me,
r
Notary Public /
My commission expires: / -16_,,
3\Thermal\TrusteeK.Crt
JDNNl. Q'9RfEN.dR 4Eg�r�;C��
CERTIFICATE OF RIIS �� 3 5
The undersigned, John H. jgrJ Tr, ste ,of Jef erson
Realty Trust under Declaration of #044 date De'ceinbe by 1984,
recorded with Essex South District Regisir— 'Heeds iBook 7603,
Page 446, hereby certify that: --
1. I am the only Trustee of the said Trust;
2. The Trust has not been altered, amended, revoked or
terminated, except as aforesaid, and is in full force and
effect;
3. I have been directed by the beneficiaries of said Trust
to execute and deliver a Loan Agreement and Mortgage to
the City of Salem (the "Mortgagee") concerning real
property, title to which is held by me as Trustee of this
Trust at 4 Jefferson Avenue, Salem, Massachusetts, which
Mortgage will secure the repayment of a $50, 000 grant
from the City of Salem to KAY Associates for the purchase
of real property located at One Technology Way, Salem,
Massachusetts;
4. The beneficiaries of this Trust are above theage of
majority and are not incapacitated.
IN WITNESS WHEREOF, I have set my hand and seal this
&yam day of 0ay1Qf4 1995.
ohn H. Kellogg, lqr
ee
COMMONWEALTH OF MASSACHUSETTS
Essex, ss. (}(�7�hc� d'p, 1995
Then personally appeared the above-named John H. Kellogg,
Trustee as aforesaid, and acknowledged the foregoing instrument to
be his free act and deed, before me,
Notary Public /
My commission expires: ((0 110
3\Therma1\TrusteeJ.Crt
5
% � ,aOUFH JEG1gTFW 01ST QTJ
WEN 1F aE6tiTFF SLI
}
MORTGAGE
i)ATE
KNOW ALL MEN BY THESE PRESENTS THAT
I, JOHN H. KELLOGG, TRUSTEE OF J7tEF�F£1LSOD_2E<.T TRUST Ju/d/t
dated December 12, 1984, recorded in Z1e—Essex--Sou -Da.gtrict
Registry of Deeds, in Book 7603 , Page 446, of Salem, Essex County,
Massachusetts (the "Mortgagor") , for consideration paid, hereby
grant to the City of Salem, a municipal corporation. (the "City") ,
acting by and through its Planning Department (the "Mortgagee")
with MORTGAGE COVENANTS, to secure the payment of $50,000.00 by KAK
Associates, a Massachusetts general partnership ("KAK") to the City
as provided in a Loan Agreement of even date (the "Agreement") ,
the following described land with the structures thereon, described
on Schedule A attached hereto (the "mortgaged premises") .
Subject to a first mortgage by the Mortgagor to Shawmut
Merchants Bank, N.A. , dated March 20, 1985, recorded with said
Registry of Deeds, in Book 7960, Page 535.
Upon written request of the Mortgagee, the Mortgagor covenants
to pay to the Mortgagee on each interest payment date during the
term hereof an amount equal to one-twelfth (1/12) of the municipal
`taxes and assessments, if any, which the Mortgagee estimates will
become payable on account of the mortgaged premises within the year
next succeeding, and to pay to the Mortgagee when the actual amount
of such taxes and assessments becomes known, the amount of any
deficiency of the fund so collected. The Mortgagee agrees to apply
the fund so collected to the payment of said municipal taxes and
assessments, refunding to the Mortgagor the amount of any excess
of the fund so collected, provided at such time there is no breach
of or default in any of the conditions, covenants, agreements, or
stipulations of this mortgage.
In the event that the ownership of the mortgaged premises, or
any part thereof, becomes vested in anyone other than the Mortgagor
named herein, the whole sum of principal and interest then
remaining unpaid shall become immediately due without notice at the
option of the Mortgagee, or the Mortgagee may, without notice to
the Mortgagor named herein, deal with such successor or successors
in interest with reference to the mortgage and the debt hereby
secured, and in the same manner as with the Mortgagor named herein,
without in any way vitiating or discharging any Mortgagor' s
liability hereunder or upon the debt hereby secured.
The Mortgagor makes the following covenants to the Mortgagee,
any breach of which shall constitute a default hereunder:
1. to pay when due all taxes, charges, assessments and water
rates to whomsoever laid or assessed, whether on the mortgaged
premises or on any interest therein or on the debt or
obligation secured hereby;
2. to keep the buildings now or hereafter on the mortgaged
premises insured against fire and such other casualties and
contingencies as the Mortgagee may from time to time require,
all such insurance to be deposited with and first payable in
case of loss to the Mortgagee and to be written by such
companies, through such agencies on such terms, in such form
and for such periods and amounts as the Mortgagee shall from
time to time approve, hereby granting to the Mortgagee in the
event of foreclosure full authority as attorney irrevocable
of the Mortgagor to cancel such insurance and retain the
return premiums thereof or to transfer such insurance to any
person or persons claiming title to the mortgaged premises or
any part thereof by virtue of foreclosure proceedings;
3. To keep the mortgaged premises in such repair, order and
condition as the same now are or may hereafter be put,
reasonable wear and tear and damage by fire only excepted;
4. to pay interest at the rate and times herein provided upon all
sums from time to time secured hereby;
This mortgage is upon the STATUTORY CONDITION, and upon the
further condition that the Mortgagor shall not convey or otherwise
transfer (voluntarily or by operation of law) the mortgaged
premises, for any breach of which the Mortgagee shall have the
STATUTORY POWER OF SALE.
The rights and obligations hereunder shall be governed by the
laws of the Commonwealth of Massachusetts. In the event that any
provision or clause of this mortgage or the note secured hereby
conflicts with applicable law, such conflict shall not affect other
provisions of this mortgage or said note, which can be given effect
without the conflicting provision, and to this end the provisions
of this mortgage and said note are declared to be severable.
This mortgage secures the obligation of KAK to repay
$5b, 000.00 to the City as provided in the Agreement. Any default
under said Agreement may be considered by the Mortgagee as a
default under this mortgage.
2
IN WITNESS WHEREOF, I, the said JOHN H. KELLOGG, TRUSTEE OF
JEFFERSON REALTY TRUST have hereunto set my hand and seal this
day of October, 1995.
JEFFERSON REALTY TRUST
BY: rwZ¢sa
HN H. KELLOGG, TEE
COMMONWEALTH OF MASSACHUSETTS
Essex, ss. October k, 1995
Then personally appeared the above named and acknowledged the
foregoing to be his free act and deed, before me,
Notary Public
My commission expires:
3\THERMAL\M0RTGAGE.JEF
3
SCHEDULE A
A certain triangular piece or parcel of land with the
buildings thereon situated in Salem in the County of Essex and
commonwealth of Massachusetts, known and numbered 4 Jefferson
Avenue, bounded and described as follows:
SOUTHEASTERLY by es (35) feet;
Three Hundred Eight and Five
Tent
SOUTHWESTERLY by Winthrop Street, One Hundred Eighty-Five and Four
Tenths (185.4) feet
NORTHERLY by Margin
Thrfeet.
ee 4) dred Twelve and Sixty-
FouHundredths
Said parcel containing Twenty-Seven Thousand Four Hundred Seventy
(27, 470) square feet.
4
MORTGAGE 1_S-- EX SOUTH REGISTRY DIST RIC
KNOW ALL MEN BY THESE PRESENTS THAT Nov S
i
iFp __ p Ct
I, JOHN H. KELLOGG TRUSTEE OF KAKIREAtW7 RII SOCK N•.
S u/d/� dated
O ak-4 .. ?-1 _, 1995, filed with the Registe2rAoo taW Division_ of
the Essex South District Registry of Deeds- as8= c o 31 .3q ,
of Salem, Essex County, Massachusetts (the "Mortgagor") , for
consideration paid, hereby grant to the City of Salem, a municipal
corporation (the "City") , acting by and through its Planning
Department (the "Mortgagee") with MORTGAGE COVENANTS, to secure the
payment of $50,000. 00 by KAK Associates, a Massachusetts general
partnership ("KAK") to the City as provided in a Loan Agreement of
even date (the "Agreement") , the following described land with the
structures thereon, described on Schedule A attached hereto (the
"mortgaged premises") .
S���}�r��+ect to a first mortgage by the Mortgagor to Eastern Bank,
dated 004- l" �, 1995, filed with said Registry of Deeds as
Document No. S
Upon written request of the Mortgagee, the Mortgagor covenants
to pay to the Mortgagee on each interest payment date during the
term hereof an amount equal to one-twelfth (1/12) of the municipal
taxes and assessments, if any, which the Mortgagee estimates will
become payable on account of the mortgaged premises within the year
next succeeding, and to pay to the Mortgagee when the actual amount
of such taxes and assessments becomes known, the amount of any
deficiency of the fund so collected. The Mortgagee agrees to apply
the fund so collected to the payment of said municipal taxes and
assessments, refunding to the Mortgagor the amount of any excess
of the fund so collected, provided at such time there is no breach
of or default in any of the conditions, covenants, agreements, or
stipulations of this mortgage.
In the event that the ownership of the mortgaged premises, or
any part thereof, becomes vested in anyone other than the Mortgagor
named herein, the whole sum of principal and interest then
remaining unpaid shall become immediately due without notice at the
option of the Mortgagee, or the Mortgagee may, without notice to
the Mortgagor named herein, deal with such successor or successors
in interest with reference to the mortgage and the debt hereby
secured, and in the same manner as with the Mortgagor named herein,
without in any way vitiating or discharging any Mortgagor' s
liability hereunder or upon the debt hereby secured.
The Mortgagor makes the following covenants to the Mortgagee,
any breach of which shall constitute a default hereunder:
1. to pay when due all taxes, charges, assessments and water
rates to whomsoever laid or assessed, whether on the mortgaged
premises or on any interest therein or on the debt or
obligation secured hereby;
2. to keep the buildings now or hereafter on the mortgaged
premises insured against fire and such other casualties and
contingencies as the Mortgagee may from time to time require,
all such insurance to be deposited with and first payable in
case of loss to the Mortgagee and to be written by such
companies, through such agencies on such terms, in such form
and for such periods and amounts as the Mortgagee shall from
time to time approve, hereby granting to the Mortgagee in the
event of foreclosure full authority as attorney irrevocable
of the Mortgagor to cancel such insurance and retain the
return premiums thereof or to transfer such insurance to any
person or persons claiming title to the mortgaged premises or
any part thereof by virtue of foreclosure proceedings;
3 . To keep the mortgaged premises in such repair, order and
condition as the same now are or may hereafter be put,
reasonable wear and tear and damage by fire only excepted;
4. to pay interest at the rate and times herein provided upon all
sums from time to time secured hereby;
This mortgage is upon the STATUTORY CONDITION, and upon the
further condition that the Mortgagor shall not convey or otherwise
transfer (voluntarily or by operation of law) the mortgaged
premises, for any breach of which the Mortgagee shall have the
STATUTORY POWER OF SALE.
The rights and obligations hereunder shall be governed by the
laws of the Commonwealth of Massachusetts. In the event that any
provision or clause of this mortgage or the note secured hereby
conflicts with applicable law, such conflict shall not affect other
provisions of this mortgage or said note, which can be given effect
without the conflicting provision, and to this end the provisions
of this mortgage and said note are declared to be severable.
This mortgage secures the obligation of KAK to repay
$50,000.00 to the City as provided in the Agreement. Any default
under said Agreement may be considered by the Mortgagee as a
default under this mortgage.
2
IN WITNESS WHEREOF, I, the said JOHN H. KELLOGG, TRUSTEE OF
KAK REALTY TRUST have hereunto set my hand and seal this 3tPf
day of October, 1995.
KAK REALTY TRUST
BY _ )HN H. KELLOGG, ST GG, ST E En 4
COMMONWEALTH OF MASSACHUSETTS
Essex, ss. October 3, 1995
Then personally appeared the above named and acknowledged the
foregoing to be his free act and deed, before me,Notary Public /
My commission expires: '-(
3\THERMAL\MORTGAGE.KAK
3
SCHEDULE A
That certain parcel of land situated on Technology Way, in Salem,
Essex County, Massachusetts, and being shown as Lot 722, containing
4 . 1 acres, more or less on a plan of land entitled: Subdivision
of Lot 698, Land Court Case No. 11802, Definitive Plan of Land in
Salem, MA Owner: Fafard Real Estate and Development Corp. , 290
Eliot Street, Ashland, MA 01921, Prepared by: Fafard Real Estate
and Development Corp. , 290 Eliot Street, Ashland, MA 01721, Date:
24 March 1995, Scale: 1" = 100' recorded with the Land Court
Engineering Department on October 24, 1995, as Plan No. 11802-54.
All of said boundaries are determined by the Court to be located
as shown upon Plan numbered 11802-54, drawn by Fafard Real Estate
and Development Corp. , dated March 24, 1995, and' the above
described land is shown as Lot 722 on last mentioned plan.
Together with the right to use, in common with others lawfully
entitled thereto, Lot 723 shown as Technology Way on said Plan, for
all purposes as streets, roads and ways are commonly used in the
Commonwealth of Massachusetts.
Together with the benefit of an Encroachment Easement dated March
25, 1991, filed as Document No. 262345 in said Registry of Deeds,
insofar as the same is now in force and applicable.
Subject to a thirty (30) foot wide Utility Easement, reserved for
the benefit of Fafard Real Estate and Development Corp. ("Fafard") ,
its successors and assigns, as described in deed of Fafard to the
Mortgagor herein of even date and filed in said Registry of Deeds
herewith.
Subject to the following easements, restrictions and rights of way
of record, insofar as the same are now in force and applicable:
1. A Taking of Easement by the Essex County Commissioners, dated
July 16, 1963 , and filed as Document No. 106456 in said
Registry of Deeds, and shown on plan filed with said Document.
2-. A Taking of Easement by the City of Salem, dated July 8, 1965,
as described in Document No. 115868 in said Registry of Deeds.
3 . A Taking of Easement by the Essex County Commissioners, dated
November 8, 1966, and filed as Document No. 121948 in said
Registry of Deeds.
4 . A Special Permit from the City of Salem dated August 2 , 1985,
filed as Document No. 204357 in said Registry of Deeds.
5. A Decision of the City of Salem Planning Board dated August
2 , 1985, filed as Document No. 206104 in said Registry of
Deeds.
Subject to an Easement granted to New England Telephone and
Telegraph Company dated July 30, 1985, filed as Document No. 203793
in said Registry of Deeds.
Subject to a Declaration of Restrictive Covenant dated May 14,
1986, filed as Document No. 212087 in said Registry of Deeds.
Subject to certain rights and easements in favor of Lot 699 as
described in Document No. 206220 in said Registry, insofar as the
same are now in force and applicable.
Subject to Order of Conditions No. 64-152 issued by the Salem
Conservation Commission, filed as Document No. 239892 in said
Registry, as extended by Extension Permits dated October 16, 1991,
September 23, 1993, October 28, 1993, February 24, 1994, April 28,
1994, and July 28, 1994, filed as Documents No. 266244, No.313332_
, No. , No.3/333LI , No.313335 , and No. 31333(. ,
respectively, and as Amended by Amendment dated Rpri I 13 I9QS
, and filed as Document No. 31 �3'�'7 in said Registry of
Deeds.
Subject to Order of Conditions No. 64-178 issued by the Salem
Conservation Commission, filed as Document No. 245902 in said
Registry, as extended by Extension Permits dated October 22, 1992,
September 23, 1993 , October 28, 1993, February 24 , 1994, April 28,
1994, and July 28, 1994, filed as Documents No. 317-)32-(o , No. 313
, No. 3133 8 , No.3)33Lc( , No. 3(3 3�b and No. 313331 .
respectively, in said Registry of Deeds.
Subject to a Special Permit Decision of the City of Salem Planning
Board, filed with the Salem City Clerk on April 24, 1995, as
amended by a Decision filed with the Salem Clerk on September 25,
1995, filed as Documents No. 3133140 and No. 313 5q
respectively, in said Registry of Deeds.
Subject to a Subdivision Decision of the City of Salem Planning
Board, filed with the Salem City Clerk on April 24 , 1995, filed as
Document No.313 3 3$ in said Registry of Deeds, and the Release
issued therewith, filed in said Registry of Deeds as Document No.
31333q .
Being the same premises conveyed to the Mortgagor by Deed of Fafard
Real Estate and Development Corp. dated O�IaN 7 1995, to be
filed with said Registry of Deeds herewith.
513 3Ll1�
1/thermdes.mtg
i
MASBAOHUSETT9 OUITCLAM DEED BY GORPQ�TION (SHORT FORM) 006
1
1ESSEX SOUTH REGISTRY DISTRICT
Fafard Real Estate and Development Corp.
a corporation duly established under the laws of the Commonwealth ofiMassach'�—i
and having its usual place of business at 290 Eliot SSsget, Ashland, Midw@Vse73
I-- assachuse is
RECIEVED O'CLOC t� Lars
for consideration aid, and in full consideration of . Four Hundred Fifty T ousan an UU�1llU si
414P0 000.00)p i',AE ISTRATION BK
g nstb The City of Salem, Massachusetts a municipal Corporation
of 93 Washington Street, Salem, MA 01970
with quiTrluiln rnuentlnis
the land in Salem, Essex County, Massachusetts, described as follows:
(Description and encumbrances,if any)
�}kk kktZfltP S w4rrPDf, thesaid Fafard Real Estate and Development Corp.
has caused its corporate seal to be hereto affixed and these presents to be signed, acknowledged and delivered
in its name and behalf by Howard A. Fafard its President and Treasurer
i§§g hereto duly authorized, this a q fh
day of September in the year one thousand nine hundred and ninety-five
Sig9ed�and sealed in presence of Fafard Real Estate and Development Corp.
/) ............................................... . .
. . . .......
1 q . ... .. .. ..... . ._. _o
by Howard A. Fafard, President and Treasurer
014e QTvii1 uunmeulflj of MannarlluorfYs
Middlesex ss. September Z9 1 19 95
Then personally appeared the above name-1 Howard A. Fafard,y-Pres .dent ani Treasurer, ,
Fafard Real Estate and
and acknowledged the foregoing instrument to be the free act and deed of the Development Corp.
before me
............ ................................ ................... .........................
Not. Pu/hlie--iu.srirc of the Pearc
My commission expires ......................��i... ...... ......... 19
CHAPTER 183 SEC. 6 AS AMENDED 13Y CHAPTER 497 OF 1969
Every decd presented for record shall contain or have endorsed upon it the full name, residence and post office address of the granece and
a recital of the amount of the full consideration thereof in dollars or the nature of the cidwr consideration therefuq if not drfivered for a
specific monetary sum. The full eonsideratinn shall mean the total price for the convepan('c widhout deduction for illy liens or ennunhrmly,
assumed by the grantee or remaining thereon. All such endorsements and recitals shall be rca.rded as pan of the deed. poifuro n, r�r r!� with
this section shall not affect the validity of any decd. No register of deeds shall inept a dmi fi!r recording unless it it in ron;,i !,. the
requirements of this section.
EXHIBIT"A"
That certain parcel of land in Salem, Essex County, Massachusetts, located on
Technology Way and shown as Lot 723 and as "Technology Way" shown on a plan
of land entitled:
Subdivision of Lot 698 Land Court Case No. 11802 Definitive Plan of
Land in Salem, MA Owner: Fafard Real Estate and Development
Corp., 290 Eliot Street, Ashland, MA 01721, Prepared by: Fafard
Real Estate and Development Corp., 290 Eliot Street, Ashland, MA
01721, Date: 24 March 1995, Scale: 1" = 100' recorded with the
Land Court Engineering Department on a AV6,0( 2-+ , 1995 as
Plan No. 11802 - 54.
Grantor, its successors and assigns, reserves the right and easement, is common
with those lawfully entitled thereto, to use Lot 723, "Technology Way", as shown
on said plan, for all purposes as streets, roads and ways are commonly used in the
Commonwealth of Massachusetts.
The lot herein conveyed is subject to easements, restrictions and rights of way of
record, if any, as the same are now in force and applicable.
The lot herein conveyed is not all or substantially all of the Grantor's assets in the
Commonwealth of Massachusetts.
For title see Certifcate 62422 Essex South District of the Land Court.
fonndSalex723 LAND RT ETON, The lana
herein+if�be Shown on
our approved plan to follow,as
OCT 25 1995;
Plan 11802-'Cot 'lCC�1 1
(EXAMINED AS TO DESf. ?MT1 t°Jg-Y) l
Louis A Moa*e Erorfiff al
z .
e
MASliAOH V5HTT9 OUITGIAM DEED eY GORP RATION (SHORT FORM) 0c4�
ESSEX SOt. - ✓ y 7
Fafard Real Estate and Development Corp. 3 I
corporation duly established under the laws of the Commonwealth of Ma sachusetts /
-:d fiaving its usual flat<®f lana+mess at 29D F.11oS Slrzet, Ashland., Middlli��cfr
i) _.O'CLOCK:M
Count ,Massachusetts
>r consideration paid, and in full consideration of LGvxLe.G� LUQ /
.cn,sto JOHN H. KELLOGG, TRUSTEE OF .KAK REALTY TRUST under Declaration of Trust of even date,
filed herewith, �p !(�,l >� [ �� /1/l/� 0/kZ7%
with quifrluiul rnurnanfs _
elandin Salem, Essex County, Massachusetts , more -particularly described in Exhibit "A",
attached hereto. -
(]Description and encumbrances,if any)
x
t
The lot herein conveyed is not all or substantially all of the Grantor's assets
in the Commonwealth of Massachusetts.
lit witnrao w4puuf, thesaid Fafard Real Estate and Development Corp.
as caused its corporate seal to be hereto affixed and these presents to be signed, acknowledged and delivered
1 its name and behalf by Howard A. Fafard, President and Treasurer
hereto duly authorized, this "7 }h
1Y of QC7o 8 ER in the year one thousand nine hundred and ninety-five ,
.r
fined and sealed in presence of
Fafard Real Estate and Development Corp.
............... ..... ....................
by ,Howard„A. Fr
. .afa. . d. ...................................................
President and Treasurer
afflr (Flnnnnnnurrulfll of filuuaarl)uarffa -
Middlesex ss. OC.TvBEA 2-7, 19 95
Then personally appeared the above named Howard A. Fafard, President and Treasurer
d acknowledged the foregoing instrument to be the free act and deed of the Fafard Real Estate and `' , ,I
velopment Corpbefore me
Notary Pl slie--hlslire of (hr peace
My colnrnissiun Upires ............... .....:...... 19
CHAPTER 183 SEC. 6 AS AMENDED DY CHAPTER -197 OF 1969
—very decd presented for record shall contain or have endorsed upon it the full name, residence and post office address of the granuc and
:hal of die amount of the full considrratlon theroof in dollars or the MQUrc of the ot!lvr consideration therefor, if not ddivcrcd For a
,.ic menetar'sum. 7'Ise full consideration shall mean the total price for the rnmcyame wi�hour deduction for any liens or i orad for
.1 W by the gruuce or remaining thcreua. All such wdorsenscnis and «citals sh:dl be rcaq•Icd as pan of the deal. F;liluro In ncu with
:remcnoll shall not ndcot the validity of any decd. No R,gister of detds shall accept a deed fw recording unless it is in a.:npi ::: . •.;ith dtu
:irtm<nls of Ilsis section.
10/05/95 THU 18:44 FAX 508 741 4883 SERAFINI&DARLING U004
EXHIBIT A
That certain parcel of land situated on Technology Way, in Salem,
Essex County, Massachusetts, and being shown as Lot 722, containing
4.1 acres, more or less on a plan of land entitled: Subdivision
of Lot 698 Land Court Case No. 11802 Definitive Plan of Land in
Salem, MA Owner: Fafard Real Estate and Development Corp. , 290
Eliot Street, Ashland, MA 01921, Prepared by: Fafard Real Estate
and Development Corp. , 290 Eliot Street, Ashland, MA 01721, Date:
24 March 1995, Scale: 1" = 100' recorded with the Land Court .2
Engineering Department Onl , 1995, as Plan No. 11802-194- .
All of said boundaries aredeterminedby the Court to be located
as shown upon Plan numbered 11802-5�L, drawn by Fafard Real Estate
and Development Corp. , dated March 24, 1995, &B ffiedified
• by
the Ekled in the T3&Hd
s tten >,i w
is
i the D 4 ♦ A Land seation• of Essex
__South 91stL184-5
�
^�T^ ^f nsods, and the above described land is shown as Lot 722
on last mentioned plan.
Said Lot 722 is conveyed subject to a thirty (30) foot wide Utility
Easement, reserved for the benefit of grantor Fafard Real Estate
and Development Corp. , its successors and assigns. Grantor shall
install initial utilities within said Easement area on or before
December 71 1995. Subsequent to that date Grantor, its successors
and assigns, shall give ten (10) days written notice to Grantee,
its successors and assigns, of its intention to excavate the
easement area for the purposes stated below. Evidence of
reasonable insurance coverage for Grantor, its successors and
assigns will also be required at this time. Said purposes shall
be the installation, upgrading, expansion, maintenance, repair,
replacement, operation or termination of one or more utility line
or lines within the easement area, all of which rights are reserved
hereunder to Grantor, its successors and assigns. The easement
rights herein retained by Grantor shall not unreasonable interfere
with Grantee, its successors and/or assigns use of the premises
herein conveyed. Grantor, its successors and assigns, after
excavation of the easement area, shall restore the area to the same
or better condition as existed prior to said excavation.
Said Lot 722 is conveyed with the right to use, in common with
others lawfully entitled thereto, Lot 723 shown as Technology way
on said Plan, for all purposes as streets, roads and ways are
commonly used in the Commonwealth of Massachusetts. Fafard Real
Estate and Development Corp. , its successors and assigns, reserves
the fee interest in said Lot 723, shown as Technology Way.
Said Lot 722 is conveyed subject to the following easements,
restrictions and rights of way of record, insofar as the same are
now in force and applicablei LAND C T STON, The land
herein t ill be shown on
our approved plan to follow as
OCT 25 1995
Plan I�$�Z 7`► LaLZ __
(EXAMINED AS TO DESCRIPTION ONLY;
Lo is A. Moore, Enginee-
l
1. A Taking of Easement by the Essex County Commissioners, dated
July 16, 1963, and filed as Document No. 106456 in said
Registry of Deeds, and shown on plan filed with said Document.
2. A Taking of Easement by the City of Salem, dated July 8, 1965,
as described in Document No. 115868 in said Registry of Deeds.
3 . A Taking of Easement by the Essex County Commissioners, dated
November 8, 1966, and filed as Document No. 121948 in said
Registry of Deeds.
4. A Special Permit from the City of Salem dated August 2, 1985,
filed as Document No. 204357 in said Registry of Deeds.
S. A Decision of the City of Salem Planning Board dated August
2, 1985, filed as Document No. 206104 in said Registry of
Deeds.
The above described land is subject to an Easement granted to New
England Telephone and Telegraph Company dated July 30, 1985, filed
as Document No. 203793 in said Registry of Deeds.
The above described land is subject to a Declaration of Restrictive
Covenant dated May 14, 1986, filed as Document No. 212087 in said
Registry of Deeds.
The above described land is subject to certain rights and easements
in favor of Lot 699 as described in Document No. 206220 in said
Registry of Deeds, insofar as the same are now in force and
applicable.
The above described land is subject to Order of Conditions No. 64-
152 issued by the Salem Conservation Commission, filed as Document
No. 239892 in said Registry, as extended by Extension Permits dated
October 16, 1991, September 23, 1993, October 28 , 1993, February
24, 1994, April 28, 1994, and July 28, 1994, filed as Documents No.
266244, No.3k3'33,;L , No. 3k3333 , No. No.-3 i -s-3-3-1>-, and
No. 3k 3 33G , respectively, and as Amended by Amendment dated
Apac 13, ( G55. , and filed as Document No.
Registry of Deeds. 3i 33:37 in said
The above described land is subject to Order of Conditions No. 64-
178 issued by the Salem Conservation Commission, filed as Document
No. 245902 in said Registry, as extended by Extension Permits dated
October 22, 1992, September 23, 1993, October 28, 1993, February
24, 1994, April 28, 1994, and July 28, 1994, filed as Documents
No. 3k33aG , No."3 \33 7 , No. 3\33aCS No. 3 � 33�q , No.3\ 3330,
and No. 3��s3 3 � , respectively, in said Registry of Deeds.
-2-
i
f
The above described land is subject to a Special Permit Decision
of the City of Salem Planning Board, filed with the Salem City
Clerk on April 24, 1995, as amended by a Decision filed with
the
Salem Clerk on September 25, 1995, filed as Documents No. 3l � `+G
and No. i33y \ respectively, in said Registry of Deeds.
The above described land is subject to a Subdivision Decision of
the City of Salem Planning Board, filed with the Salem City Clerk
on April 24, 1995, filed as Document No. -I (3 3-3S in said Registry
Of Deeds, and the Release issued therewith, filed in said Registry
of Deeds as Document No. 3 ( 33
Said Lot 722 is conveyed with the benefit of an Encroachment
Easement dated March 25, 1991, filed as Doc9ment No. 262345 in said
Registry of Deeds, insofar as the same bis now in force and
applicable.
For grantor's title see Certificate of Title No. 62422 in said
Registry of Deeds.
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CITY OF SALEM, MASSACHUSETTS
NEIL J. HARRINGTON
MAYOR
August 11, 1994
William A. Fitzhenry
U.S. Department of Commerce
Economic Development Administration
Thomas P. O'Neill, Jr. Federal Building
10 Causeway Street
Boston, MA 02222
Dear Mr. Fitzhenry:
The City of Salem is prepared to submit an application to the Economic Development Administration for
$400,000 of Public Works and Development Facilities Assistance. The project which the City is
proposing is construction of an access road which will create a new industrial park in Salem. If funded,
this project will allow Salem to retain Thermal Circuits, a Salem-based manufacturer of surface heaters
and heater assemblies with 63, full-time employees, as well as assist in attracting four other medium
sized manufacturing firms to Salem.
Thermal Circuits has outgrown its current manufacturing facility and must move into an expanded plant
by July, 1995. Currently, no suitable facility exists in Salem. However, the City has worked hard to
find a parcel of industrial land that would be very suitable for Thermal Circuits. The owner of the land
is Fafard Real Estate and Development Corporation. Discussions between the City, the land owner and
Thermal Circuits have led to an understanding that Thermal Circuits will locate at this site and, the land
owner will create four additional, four-acre development parcels, provided that the City can obtain
Economic Development Administration (EDA) funding to construct a road and infrastructure. If this is
done, the land owner will greatly subsidize the sale price of the parcel to Thermal Circuits.
The land cost subsidy is vital because the total cost of constructing a new plant in Salem is estimated at
$1.6 million while an existing, facility outside of Salem can fit their specifications at a cost of $1.1
million. Without help in defraying a portion of the $500,000 difference of developing a new facility in
Salem, the City will lose 63 manufacturing jobs and approximately $17,000 in tax revenue.
A brief description of yhe project and its potential benefits is attached. We hope that you will review our
preliminary proposal and forward a preapplication form to us as soon as possible.
Sincerely,
Neil J. Harrington
Mayor
SALEM CITY HALL • 93 WASHINGTON STREET • SALEM. MASSACHUSETTS 01970 • 508/7459595 . FAX 508/744-9327
i
City of Salem, Massachusetts--Thermal Circuits
Proposal for Public Works and Facilities Program
Salem Risks Losing Manufacturing Jobs:
Thermal Circuits, a Salem-based manufacturer of surface heaters and heater assemblies, has outgrown its
antiquated, three-floor, 27,000-square foot facility. To remain competitive and upgrade its production
processes to fulfill new contracts, the company must move to a modern, single-floor, 30,000 square foot
facility by July 1, 1995.
No suitable site currently exists in Salem. If a new facility is not built, Thermal Circuits and 63
manufacturing jobs will leave the City. Salem's industrial base will take another blow, unless the City is
able to defray the costs associated with of building a new plant at a currently undeveloped, four-acre site
at Swampscott Road.
Proposal for Public Works and Development Facilities Assistance:
Through the Economic Development Administration's Public Works and Development Facilities
Assistance Program, the City of Salem seeks a grant in the amount of $400,000 to construct an access
road, install sewer lines and other utilities, and grade an undeveloped parcel of land.
Because Thermal Circuits will locate at the site of these improvements, this $400,000 public investment
will immediately leverage nearly $1.2 million in private investment and retain 63 manufacturing jobs.
Fafard Real Estate and Development Corporation, owners of the property, has agreed to transfer four (4)
developable acres to Thermal Circuits if the City is able to provide funds to construct an access road.
This access road will not be solely to benefit Thermal Circuits - additional private investment will
follow. With road and sewer lines in place, the surrounding industrially zoned property, also owned by
Fafard Real Estate and Development Corporation, will be subdivided into four, four-acre industrial
parcels. As a result, Salem will be able to offer existing manufacturing firms a place to expand and will
compete more effectively for small manufacturing firms interested in relocating to our region.
Without a grant from the EDA, Thermal Circuits will leave Salem. The cost of purchasing land and
constructing a plant in Salem is estimated at $1.6 million, nearly $500,000 more than the estimated cost
of purchasing and upgrading an existing facility which Thermal Circuits has found outside of the City.
Exhibit A compares the cost of constructing a facility in Salem with the cost of purchasing an existing
plant.
How the Project Meets EDA Criteria:
This project meets all of the EDA's criteria for funding public works projects at industrial sites.
Specifically, the project accomplishes the following:
1. Creates an opportunity for the expansion of an industrial facility, Thermal Circuits. The
company's existing business plan calls for 15 to 18 percent growth each year for the next
five years.
2. Retains and generates jobs. If Thermal Circuits remains in Salem, 63 jobs stay as well.
The company's growth projections translate into approximately nine to 12 new factory-
level jobs per year, with additional administrative positions, for the next five years.
3. "Fulfills a pressing need of the area in which it will be located." In the short term, this
project will sustain Salem's manufacturing base, keeping Thermal Circuits in the City. In
the long run, the construction of a road and utility lines at the site will make the area a
viable location for growing Salem-based firms and will enable the City to attract
companies that desire a location in Greater Boston.
4. Leverages significant private investment. Not only will Thermal Circuits immediately
build a new, $1 million facility, the surrounding area will become an attractive location
for other companies, as noted above.
5. Promotes both the development of new technology and exports. The company's New
Technology Development Effort has recently spawned three products capable of
producing sales beyond forecast, including exports, which currently account for 23
percent of the firm's total business. Investment in new and updated capital equipment and
process improvements is targeted at $150,000 over the next two years.
6. State and local investment will accompany the EDA's investment if Salem is designated
an Economic Target Area by the Commonwealth of Massachusetts. Designation will
enable Salem companies to qualify for investment tax credits and corporate income tax
credits from the Commonwealth and property tax credits from the City. An
announcement regarding ETA selection is expected in September.
7. The prospective tenant and developer are committed to begin construction in a timely
manner. Time is of the essence for Thermal Circuits; the company must be in a new
facility by July, 1995.
Economic Development Benefits for Salem:
This project advances several elements of Salem's economic development agenda. It retains and creates
good jobs for local residents, sustains Salem's manufacturing base and serves a valuable "corporate
neighbor", Thermal Circuits, an innovative firm that invests in its workforce.
Maintaining a diverse economic base is crucial to Salem's future. While the tourist trade and service
sectors are strong, Salem's industrial base has eroded significantly. In 1983, the City was home to
4,566 manufacturing jobs. By 1992, that number fell to 2,424 jobs -- a decrease of 46.9 percent.
Exhibits B and C depict Salem's changing employment base.
Salem faces several challenges in trying to maintain its industrial base. Unlike other cities in the region,
Salem does not own any industrial land and cannot package attractive deals for potential developers.
Nor is there significant privately-owned industrial property available in the City. Salem's existing small
manufacturers cannot find adequate facilities as they grow, and many outside firms do not consider our
City a viable location for that reason. A small city such as Salem might not be able to compete for giant
manufacturing concerns, but we are confident that, with better facilities, we can be an attractive option
to small and medium-sized industrial firms. The development of a new Thermal Circuits plant at
Swampscott Road represents a rare and outstanding opportunity to improve Salem's industrial facilities.
Thermal Circuits' expansion will generate high quality, stable jobs for local residents of diverse levels of
skill and education. The average length of service at the company is 14 years. Salem wants to remain
the home of a company that continually invests in the skills of its workforce. At Thermal Circuits,
employees enjoy specialized training -- the company has already invested more than $42,000 in training
programs and continues with plans to upgrade workers' skills and remain competitive in a highly
specialized industry.
Exhibit A
The Cost of Building a New Thermal Circuits Plant in Salem
Swampscott Road Land Acquisition and Site Work:
Item Cost
Real Estate $65,000/acre " 4 acres = $260,000
Grading $50,000
Paving $45,260
Utilities $58,350
Parking Lot Lights $8,000
Contingency (less real estate) 10% $17,600
Engineering (less real estate) 4% $7,000
Supervision $10,000
$456,210
New Building Construction: $37.50/sq. ft. • 30,000 = $1,125,000
Turn-key Electrical Build-Out $45,000
Total $1,626,210
Comparison:
Purchase existing 32,000 sq. ft. facility (outside Salem) $900,000
Upgrade/Build-Out $240-000
Total $1,140,000
Premium to Build New Facility in Salem $486,210
Exhibit B
Changes in Salem's Employment Base: 1982 to 1992
Total Employment Breakdown by Industry
Salem-- 1982
(4.7%)Finance,Insurance&Real Estate
(27.4%)Manufacturing
(24.4%)Services
E.�'a'+ (4.8%)Transportation/Communimtion/Utilities
(3.0%)Construction
NK
(12.3%)Govemment
(23.3%)Wholesale&Retail Trade
1982
INDUSTRY #JOBS
Manufacturing 5,136
Finance, Insurance & Real Estate 888
Services 4,570
Government 2,305
Wholesale & Retail Trade 4,373
Construction 565
Transportation/Communication/Utilities 899
Total Employment Breakdown by Industry
Salem— 1992
(5.8%)Finance,Insurance&Real Estate
(38.8%)Services
.(13.4%)Manufacturing
(4.3%)Transportation/Communimtion/Utilities
(2.1%)Construction
w(�7��24Y
(13.2%)Government
(22.5%)Wholesale 8 Retail Trade
1992
INDUSTRY #JOBS
Manufacturing 2,424
Finance, Insurance & Real Estate 1,040
Services 6,989
Government 2,379
Wholesale & Retail Trade 4,053
Construction 370
Transportation/Communication/Utilities 779
Source: Massachusetts Department of Employment&Training
Exhibit C
Decline in Salem's Manufacturing Jobs: 1980 to 1992
Decline in Manufacturing Jobs
Salem: 1980 to 1992
6
w 5
0
a
O m 4
0
H
E
E
Z 3
2
1980 1982 1984 1986 1988 1990 1992
Source: Massachusetts Department of Employment&Training
09/19/95 TDE 18:57 FAX 508 741 4680 SERAFINI&DARLING [A 001
V
� E ERA INI, SERAFINI AND DARLING
ATTORNEYS AT LAW
not 63 FEDERAL STREET
V� SALEM. MASSAGHU5ETT501970
F 1. VVVVTELEPHONE
FI SOa-144-0212
IN 61T•661'2Y43
1KLETELECOPIER
RRENTI
30N'141-4SS3
MULTIPLE FAX DISTRIBUTION COVER SHEET
TO. Paul J. Beattie, Esq. The Fa£ard Companies (508) 875-8610
(Name) (Company) (Fax No. )
TO• Anthony Klein Thermal Circuits 741-3420
(Name) (Company) (Fax No. )
T0: William E. Luster City Planning Dept, 744-5918
(Name) (Company) (Fax No. )
TO•
(Name) (Company) (Fax No. )
From: Ellen M. Winkler Date• 9/19/95
Number of Pages 3 File No. T139-9501
(including cover sheet)
SPECIAL INSTRUCTIONS:
If there is a problem with this transmission, call (508) 744-0212
and ask for Cynthia
CONFIDENTIALITY NOTE
THE DOCUMENTS ACCOMPANYING THIS TELECOPY TRANSMISSION CONTAIN
INFORMATION FROM THE LAW FIRM OF SERAFINI, SERAFINI AND DARLING
WHICH IS CONFIDENTIAL OR PRIVILEGED. THE INFORMATION IS INTENDED
TO BE FOR THE USE OF THE INDIVIDUAL OR ENTITY NAMED ON THIS
TRANSMISSION SHEET. IF YOU ARE NOT THE INTENDED RECIPIENT, BE AWARE
THAT ANY DISCLOSURE, COPYING, DISTRIBUTION OR USE OF THE CONTENTS
OF THIS TELECOPIED INFORMATION IS PROHIBITED. IF YOU HAVE RECEIVED
THIS TELECOPY IN ERROR, PLEASE NOTIFY US BY TELEPHONE IMMEDIATELY
SO THAT WE CAN ARRANGE FOR THE RETRIEVAL OF THE ORIGINAL DOCUMENTS.
09/19/95 TOTE 16:58 FAX 508 741 4683 5ERAFINI&DARLING 0 002
SERAFINI, SERAFINI AND DARLING
ATTORNEYS AT LAW
63 FEDERAL STREET
SALEM, MASSACHUSETTS 01970
JOHNR,SERAFINI,SR, TELEPHONE
40M R.SERAFINI.JR. 506.744-0219
JOHN E.OARLiNO 61T-ESI-2743
ELLEN M.W~%94 TELECO PIER
JOSEPH C.COIRCNTI 5UM-741.4663
September 19, 1995
VIA TELXCOPIER
Paul J. Beattie, Esq.
The Fafard Companies
290 Eliot Street
Ashland, MA 10721
Re: Swampscott Road
Salem, Massachusetts
Dear Paul:
This letter is a follow-up to our conversations yesterday and
today regarding outstanding issues to be resolved prior to
execution of a purchase and sale agreement.
As you know, my client has reached a critical juncture where
the expenditure of significant additional funds must be authorized
if the project is to proceed this fall. Tony Klein spoke with
Howard Fafard earlier today. On the basis of Howard's assurances
that he can still honor an October 9th finish date, Tony has
authorized twenty thousand ($20,000.00) dollars for architectural
work.
We remain concerned, however, that the site work has
significantly progressed without agreement on the geotechnical
specifications in the Haley & Aldrich Report or the required
geotechnical monitoring. You have now indicated that Howard still
objects to Exhibit A. The respective parties must be prepared to
address this issue immediately. To that end, please memorialize
your client's position and arrange for Ul necessary parties to be
available to meet.
It is anticipated that another one hundred thousand
($100,000.00) dollars for structural steel and architectural fees
will be required within the next week to insure the feasibility of
the project. We absolutely must have a signed agreement prior to
making any further expenditures.
09/19/95 TUE 18:58 FAX 508 741 4883 SERAFINI&DARLING 1A 003
Paul J. Beattie, Esq.
Page Two
September 19, 1995
Your efforts to resolve the engineering and title issues are
acknowledged and greatly appreciated. Nevertheless, final
agreement on the contract specifications and remaining issues
outlined in my correspondence last week are, in our view, of equal
importance and must be addressed immediately in order to preserve
the viability of this project.
We are available to discuss any and all remaining issues and
await your response.
Very truly
yours,
�i�Ce�ldr�l/W
Ellen M. Winkler
ENW:cbg
cc: Mr. Anthony Klein
r
CITY OF SALEM, MASSACHUSETTS
PLANNING DEPARTMENT
ONUIT�
WILLIAM E. LUSTER 5`v ONE SALEM GREEN
City Planner 01970
fitrTo` (508) 745-9595, EXT. 311
9gGnIN6rr"' FAX (508) 744-5918
July 27, 1995
Ms. Elizabeth Trifone
Massachusetts Certified Development Corporation
One Liberty Square
Boston, MA 02109
Dear Ms. Trifone:
Thank you for your efforts to help Thermal Circuits obtain the financing necessary to
construct a new plant at Technology Way in Salem.
To retain this growing manufacturer in Salem and to promote the development of a six-
parcel industrial park, the City has obtained a state grant to construct a road and infrastructure,
Terhnology Way, off of Swampscott Road in Salem. In addition, the City has offered financial
hici:otives to the company.
Last October, the City of Salem was designated an Economic Target Area (ETA),
through the Commonwealth's Economic Development Incentive Program. Salem's ETA
designation allows new or existing Salem companies to qualify for a variety of state and local tax
benefits not available in other communities. In March, Thermal Circuits was designated a
certified project, making the company eligible for both property tax benefits and a state
investment tax credit of five percent. The City and Thermal Circuits negotiated a ten-year tax
increment financing agreement which provides the company with more than $231,000 in local
property tax relief. In addition, the City provided a low-interest, deferred loan of$50,000.
The attached materials confirm Salem's status as an Economic Target Area.
I hope that this information is helpful to you as work to assist Thermal Circuits.
i erely,
William L ter
City Planner