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HomeMy WebLinkAboutFiore, Anna.... --- 1 992 ALTA · .. Owner'S PoliCy In_ uYance ( z-porat]on ' Owner's ?olicy Number 00 - 77'2369 'SUBJECT~T0~RE EXCLUSIONS FROM COVERAGE THE EX_CE_P~tE)NS FROM COVERAGE CONYAINED~N SCHEDULE B AND THE CONDI'[IOHS AND STIPULATiON~ LAVV'r'ERS TiTLE~ ff~-t.:[~_,~E~'~,DRP,DRATIOI,J a V~rg'e~.~orp~a{ion~ ~here~, palled the . Compar~y. asure~, as el D~le er Po~c~ strewn ,n ~¢zeQule A agamsLJ~'~'or'dam~ge r,o~ ~xceedme ~r~ ~ednte[ [rtsur~ese stated tn · ,1. T,ile td~,i-,~ estate or ,meres[ aescdued ~n Sob.eSL la.A De,ng,'~. :~ '~.2:.Llnmar~e aDH r) el the title: The Company also will pa.y [he costs, zmoree/s leus a~'-,d~ ~pen~es ,pcu rr~c;i;,0 a~,se or l~ ~e Idle, as i~qsuted, but:only ~to the exteet erev~ded :- F~ L~I ~10~4§ ~F ~01~ '~'O~A G E ............ Company wi.fi,: net pay ess or eamage, costs, 1.. (a),Any' law ore,nonce or governmental regu~a~r~u~"~lC~,~'o.~_-; ' '~.~l~--~,';no[ known [o the Company, not recorded in the puetlC but- ~ol limired re bu,telr, g and zou,ng la,~vs, oreJQa,~.ce/;.~ o-r~_~-T'~C.~[L~re¢or,'ls at Date Of Pqicy'¢ ~ut I~noW~t0 '~h'e'i~sured~c[a mant' regulal;onsl rear,cling regulat;ng. ¢roh,b;[i~ ([rTr~a[~lLo, ~ ~...~-' ;-~--' "~r~d noI disclosed in writ[f~gto~he C0mpar~¥ by the insured 'qr herea, lter erected, on the ·land; (ii~ a .separation in ; '~','((~) resulting tn no loss or damage to tne iqsured claimant: ' owne~rship or a~'chang.e 'h:tbe~ di~densions er orea of I~he. land qr any .parcel 8f which the~',la~, is or W~~ ~ part; or (iv) · onvitOr~mentalt~protedtior~, or the effect of an~ v o ati&n of t~e, laws, ~rdinances('or goverrfmenta[ regulations, expept to the exteqt tibet a. net]ce*of the enfercement thereof or.a notice of a def~ct¢ lien or.encumbrance:resulting from a violation or alleged violation aEecting thc.land, has,,been recorded in the public records at Date of Pe.licy. (b) Any'governmental.police poker,ne'[ excluded by (a) above, e×cept to tee extent that a nbticeof'the exercise thereof or a ~ot]ce of, a defect~ lien or encumbrance"ryest~lting from a vielatiod ~f allege'd ~/iolatlen affecting' the; lar~d has been recorded.in the public reeords at, Date of Policy. R~ghts:,ef~em~nent domain un-~ess not,ce of the exercise thereof has bee~' recorded in the I~ub~ic re~:ords at Date 8f Policy, but not exCluding ~rem. coverp, ge;eny taking which has occurred odor to Date of Policy whiPh wodld be binding on the rights of a pumhase? fer value.:w~thout knowledge. Dele. cOs, liel~s, encurn, brances,: ~dveise claims or other matters: (a) created, suffered,l,assumed' or agreed to .by the insured claimant; "(d)' attaching, or created subsequent to D,a. te of Policy; or i'e) resulting in loss or dam.~.ge Which Wbuld not have been sustained if the insured·~laimant had paid value for the estate or interest insured by this policy~ 4. A~y claim, which arises out of the transaction vesting in the i~sured the estate or interest.in, sured b~.this pohcy,.by reason of'. the bper~tien of federal bankruptcy, state iqso[vency, or similar creditors' rights laws that is based on: (a). the transact]on creating' the estate or ;interest insured by this policy b~eing deemed a fraudulent conveyance or fraudulent transfer; or (b) the transaction creating~he estate or interest insured by this policy being deemed a preferential transfer except where the preferential transfer results from the failure: (i)' to timely record the ins~rume~3t'ot .t!ansfer; or (ii) of such recordation to impart ~otice to a purchaser for value or a judgment or lien crediior. PoJicy 136 - Lilh~ in U.S.A. 035-0-136~1006 Cover Sheet ALTA Owneds PoJicy ll Lawyers Title Insurance Corporation SCHEDULE A DATE OF POLICY OWNER'S POLICY ENDORSEMENTS POLICY NUMBER 1t/25197 $258~197.24 136-00-772369 1. Name of insured: TOWN OF SOUTHOLD 2. The estate or interest m the land which is covered by this policy is: FEE SIMPLE 3. Title to the estate or interest inthe land is vested in: the INSURED as to Development Rights by deed from Peconic Land Trust, dated 11/25/97 and recorded 12/10/97 in the Office of the Clerk of the County of Suffolk in Liher 11867 P. 069. 4. The land referred to m this policy is described as follows: SEE ATTACHED Si~tu~a~Oflicer or A~eat NORTH SHORE ABSTILA. CT, LTD. 330 OREAT NECK ROAD_ GP~AT NECI~ NY 11021 Issugd a~ (Locatioa) Policy 136 This Polly Ls invahd unless thc eowr 035-0-136-0000 ALTA Ovrae~s Policy (10-17-92) sheet and Schedule B are at~ached. iLawyers Title Insurance Corporation ':'=N16820S SCHEDULEB EXCEPTIONS FROM COVERAGE OWNER'S POLICY POLICY NUMBER 136-00-772369 · , ~. ,::;Tills polic3_' does not insure against loss or damage (and the Compmty will not pay costs, attomeys' fees · ': 'i'eason of. 3: or expenses) which arise by Notice of Appropriation for Permanent Drainage Easement in Liber 6509 cp 195. Except riparian rights and easements of others over Richmond Creek. Policy does not insure such fights in favor of the ,No title is msared to any part of the premises l.cng below the present or former high water line of Richmond Creek. Except fights of the United States Government, the State of Ne*v York and any other municipal authority, or any of their depa~anents or agencies, to change and/or alter, the harbor, bulkhead or pierhead lines adjacent to the premises; to establish harbor, bulkhead or pierhead lines different ~om the present lines; to regulate and/or control the use of piers, bulkheads, land trader water and land adjacent thereto; to take, without compensation, land now or fonuerly l~ing tmderwater. 5. Variation between tax lot and record description. Note: Easterly line of premises is 2716 feet per tax map and 2904.83 feet per record description. The Southerly and Westeriy lines also var}-. Premises herein may overlap onto Lot 014 adjoining to the Southeast. Premises herein overlap with tax lot 014 to the South as per deed to Skwara dated 2/7/68 in Liber 6308 cp 503. The Easterly line of premises in Schedule "A" differs 200 foet more or less with tax map. Title to said Southeasterly t,'iangular area sliown on survey lierem cmmot be insured at this th-ne. Tax map may have to be apportioned. A deed or boundary agreemcmt from owners of tax lot 014 may also be required. 7. The area as shown on survey, as ;vetlands are subject to tlie Tidal Wetland Act of the State of New York and the use thereof must be approved by the Department of Enviromuental Conservation of the State of New York. 8. Pray state of facts a guaranteed survey of the premises might show. In the absence of a guaranteed'sun,es; policy does not insure the exact location, course and dimensions of the premises. 9. Water meter charges aecming ~om date of last actual meter reading. 10. Pdghts of tenants or persons in possession, if any. , Poli%' I36 Litllo htU. S.A_ 035-0-136-0001 ALTA Owner's Policy (10-17-92) Lawyers Title Insurance Corporation NATIONAL H~ AD(~0'ARTER5 STANDARD NEW YORK ENDORSEMENT (OWNERS POLICY) :Attached to and made part of Policy Nmnber: 136-00-772369 1. The follox~Ang is addedto the insuring provisions on*,he face page of this policy: "5. Any statotory lien for services, labor or materials furnished prior to the date hereof; and winch has now gained or winch ma3, hereafter gain priority over the estate or interest of the insured as shown in Schedule A of this policy." 2. The following is added to Paragraph 7 of the Conditions and Stipulations of this policy: "(d) If the recording da~e of the instruments creating the insured interest is later than the policy date, such policy shall also cover intervening liens or incumbrances, except real estate taxes, assessments, water charges and sewer rents." "(e) Provision is made in the rate manual of the Company filed with the Supe~tendent of Insurance of the State of Ne~v York for continuation of liability to grantees of the insured in certain specific circumstances only. In no circumstance provided for in this st;b-section shall this Company be deemed to have insured the sufficiency of the instrument of conveyance or to have ,assumed any liability for the sufficiency of any proceedings after the date of this policy." Nothing hen:in contained shall be construed as extending or changing the effective date of said policy unless other~Sse expressly stated. This endors,ment, when signed below by a validating signatory, is made a par~ of said policy and is subject to the Exclusions from Coverage, Schedules, Conditions and Stipulations therein, except as modified by the provisions hereo£ IN WITNESS WHEREOF, the company has caused its corporate name be hereunto affixed by its dui5' authorized officers. Signature Authmiz~l~.~ ~r Ag~t STANDARD NEW YORK ENDORSEMENT (2/23,93) FOP. USE WITH ALTA OWNER'S POLICY (10-17-92} Form31-64 Lawyers Title Insurance Corporation TitIe No. NORTH SHORE ABSTRACT; LTD. as agent for:. LAWYERS TITLE INSURANCE CORPORATION Ni6820S SCHEDULE A ALL that c~erta~, p[oL piece or p~cel of land, situate, lying mad being ~t Pecon[c, Town of Sguthold, County of Suffolk and State of New Yo.r .k, more particularly bounded and described as. follows: t~EGLNNING at a point on the Westerly boundary line of land no~v or formerly of Robert K. Simon and Elizabeth K. Simon, said point being situate the following three (3) courses and di~,tances rom the inters~ection of the.Southerly side of Main Road (N.Y.S. Rte. 25) and the Westerly side of Wells Road; 1. South 40 degrees 27 minutes 29 seconds West as measured along the Southerly side of Main Road (N.Y.S, Rte. 25), a distance of 206.55 feet; 2. South 35 degrees 19 minutes 29 seconds West along the Southerly side of Main Road (N.Y.S. Route 25), a distance of 820.12 feet to the Westerly boundary of land now or formerly of Robert K. Simon and Elizabeth K. Simon; 3. South 34 degrees 41 minutes 41 seconds East along the Westerly boundary of land now or formerly 0fRobert K- Simon and Elizabeth K_ Simon, a distance of 462.66 feet to a point; RUNNING T~ENCE from said point of beginning South 34 degrees 41 minutes 41 seconds East along land now or formerly of Robert K. Simon and Elizabeth K., Simon, land now or formerly of Elizabetk S- Mead, lgnd~nt~w or formerly of P, fichard Mead and Elizabeth Mead, land now or formerly of Jermie Lee Pierce, land now or formerly Robert Ringold and Maureen Ringold, land now or form6rly of Norma Jean Mehrman, and land now or formerly of John R. Mehrman and Norma I. Mehrrnan, a distance of2253.11 feet to land now or formerly of Chester H Skwara and ~oyc~ M_ SkWaxa; RUNNING THENCE along land now or formerly of Chester H. Skwara and Joyce M_ Skwara the following three (3) courses and distance: 1. South 52 degrees 27 minutes 09 seconds West, 140.22 feet; 2. N~orth 73 degrees 06 minutes 01 second West, 74.93 feet; 3_ South 16 degrees 53 minutes 59 seconds West, i75.00 feet to the No,hotly side of Wells Road; RUNNING THENCE North 73 degrees 06 minutes 01 second West along the Northerly side of Wells Road, a distance of 341.71 feet to a point; continued NORTH SHORE ABSTRACT, LTD. as agent for:. LAWYERS TITLE INSURANCE CORPORATION Title No. N16820S SCHEDULE A (Continued - Page 2 of 3) RUNNING THENCE through land.now or formerly of Ann Fiore, et al, the following five (5) courses and distances: 1. North 34 degrees 55 minutes 31 seconds West, 55.35 feet; 2. along ~he arc of a curve to the left having a radius of 500,00 feet, a distance of 190.20 feet; 3. North 56 degrees 43 minutes 13 seconds West, 360.50 feet; 4. Noah 49 degrees 58 minutes 55 seconds West, 332.54 feet; 5. South 63 degrees 50 minutes 23 seconds West, 247.46 feet to the kighwater mark of ltlcbanond Creek; RU2XlN-iNG THENCE along the approximate high water mark of Richmond Creek, the following two (2),courses and distances: North 24 degrees 43 minutes 54 seconds West, 329.08 feet; North 15 degrees 14 minutes 53 seconds West, 110.76 feet to a point; RUNNDqG THENCE North 72 degrees i4 minutes 31 seconds West across Richmond Creek a distance of 38.89 feet to Reserved Area "D", Subdivision Map "Richmond Stores at Peconic" flied in the Office of the Clerk of Suffolk County as File Number 6873; R~G THENCE along Reserve Area "D", Subdivision Map "Richmond Shores at Peconic" the following three (3) courses and distances: 1 North 30 degrees 05 minutes 21 seconds West, 115.00 feet; 2. North 49 degrees 16 minutes 59 seconds East, 326.10 feet; 3. North 27 degrees 41 minutes 01 seconds West, 521.50 feet to land now or formerly of James C. McBurnie IT[ and Joze McBurnie; RUNNE~G THENCE North 27 degrees 13 minutes 11 seconds West along land now or formerly of James C. McBurhie 1~I and Joze McBumie, a distance of 252.35 feet to the Southerly side of Main Road (N.Y.S. Rte_ 25); RUNNING THENCE North 35 degrees 19 minutes 29 seconds East along the Southerly side of Main Read (N.Y.S. Rte 25), a distance of 22.54 feet to land now or formerly of Thomas P. Grattan and Dale E. Gra~an; continued Title No. N16820S 'NORTH SHORE ABSTRACT, LTD. as agent loc LAWYERS TITLE I'NSURANCE CORPORATION SCHEDULE A (Continued - Page 3 of 3) RLTNNING THENCE South 27 degrees 13 minutes Il seconds East along la~qd now or formerly of Thomas P_ Gr~ttan and Date'E. G-rattan, 146.00 feet to a poing RUNNING THENCE throngh land now or fommrly of Ann Fiore, et al, the follovdng two (2) courses and distances: 1. South 27 degrees 13 minutes 11 seconds East, 123.69 feet; 2. North 55 degrees 59 minutes 04 seconds East, 554_13 .feet to the Westerly line of land now or formerly of Kobert lC Simon and Elizabeth lc Simon and the poim or place of BEGINNING_ 's~Ael-~~ sl] q~!~ aouepJo00~ u! e '~ued~oo aql ~o lue6e Jo ~eOl~O pezpoqlne ue. ~q ~eu6 sJe~unoo s! V elnp@qoS u@q~ pi e^ eq ol 'pa ecs pue peu6.s eq ol ~O!lod slq[ pesneo sew ~ued~oo eql ~O~H~A SS~N/I/~ N I 'puouJqo!~ 'Z9SZ8 xol3 'O~ :sseJppe t~U!l!e~ 'OI~8E:8 e!u!BJJA 'puouJqo!B 'ia~J;S peoJB lSa~A 0899 'sJalJenbpe~H a;eJodJo0 sl! oI pessaJppe aq Ileqs pue f-b!lod s!q~,,to.~qLUnu eql apnIou! Ileqs ~ueduJoo aql pgqs!uJnI @q o] paJInbaJ 6U!~JNt U! iueuJale~s ,~ue pue ,~uedtuoO @ql UeAI6 9q OI pa~!nbeJ sao!)~ou iiV '.LN~S ~EI~HAA 'S3OI.LON · loe,ya pue eo~oj lint u! u!euJ@J ileqS suo~slAo~d ]eq~o iie pue uo~s -!^o~d leql apnloul ol iou peuJeep eq ileqS io!lod ~L~I '~el alqeO!ldde ~apLm @lqeeo~oju@un ~o p!le^U! pleq s! Xo!jod eql ~o uo!s!^o~d Xue lue^a aql U l 'A.LI-11GVM~A~S Q:;nNIJ. NOO--SNOI.LV'IIldlIS aNY SNOImlQNO0 DEED OF DEVELOPMENT RIGHTS THIS INDENTURE, made this 3,~ day of November, 1997 BETVVEEN PECONIC LAND TRUST, a non-profit corporation, located at 296 Hampton Road, Southampton, New York,, party of the first part, and THE TOWN OF SOUTHOLD, a municipal corporation of the State of New York, having its office and principal place of business at 53095 Main Road, Town of ~Southold, County of Suffolk and state cf New York, party, of the second part. WlTNESSETH That the party of the first part, in consideration of ten ($10.00) dollars, lawful money of the United States, and other good and valuable consideration paid by the party of the second part, DOES HEREBY GRANT AND RELEASE unto the party of the second part: its successors and assigns forever, the DEVELOPMENT RIGHTS, by which is meant the permanent legal interest and right, as authorized by Section 247 of the New York State General Municipal Law, as amended, to permit, require or restrict the use of the premises exclusively for agricultural production as that term is presently defined in Chapter 25 of the Code of the Town of Southold, and the right to prohibit or restrict the use of the premises for any purpose other than agricultural production, to the properties described in the attached Schedule A. TOGETHER with the non-exclusive right, if any, of the party of the first part as to the use for ingress and egress of any streets and roads abutting the described premises to the center lines thereof, TOGETHER with the appurtenances and all the estate and rights of the party of the first part in and to said premises, insofar as the rights granted hereunder are concerned. TO HAVE AND TO HOLD the said DEVELOPMENT RIGHTS herein granted unto the party of the second part, its successors and assigns forever. AND the party of the first par[covenants that the party of the first part has net done or suffered anything whereby the said premises have been encumbered in any way whatever, except as aforesaid. The party of the first part, as a covenant running with the land in perpetuity, further covenants and agrees for the party of the first part, and its heirs, legal representatives, successors and assigns of the party of the first part, to use the premises on and after the date of this instrument solely for the purpose of agricultural production. AND the party of the first part, coYenants in all aspects to comply with Section 3 of the Lien Law, as same applies with said conveyance. The definition of "Agricultural Production" as defined in Section 25-30 of Chapter 2,5 of the Southold Town Code is as follows: Agricultural Production - shall mean the production for commercial purposes of crops, livestock and livestock products, but not land or portions thereof used for processing or retail merchandising of such crops, livestock or livestock products. Land used in agricultural production shall also include fences, equipment storage buildings, livestock barns, irrigation systems, and any other structures used exclusively for acjricultural purposes. A greenhouse for agricultural production shall not be allowed except by permission of the Southold Town Board. The party of the first part and the party of the second part do hereby covenant and agree in perpetuity that either of them or their respective heirs, successors, legal representatives or assigns, shall only use the premises on and after this date for the purpose of such agricultural production and the grantor covenants and agrees that the underlying fee title may not be subdivided into plots by the filing of a subdivision map pursuant to Sections 265 and 277 of the Town Law and Section 335 of the Real Property Law, or any of such sections of the Town or Real Property Law or any laws replacing or in furtherance of them except as shown in the subdivision sketch plan prepared for Peconic Land Trust, dated October 31, 1997. The word "parLy" shall be construed as if it reads "parties" whenever the sense of this indenture so requires. The party of the first part covenants and agrees that it will (a) not generate, store or dispose of hazardous substances on the premises, nor allow others to do so; (b) comply with all Environmental Laws; (c) allow party Qf the second part and its agents reasonable access to the premises for the purposes of ascertaining site conditions and for inspection of the premises for compliance with this agreement. This covenant shall run with the land in perpetuity. The party of the first part, its heirs, assigns and/or party or parties in laWful possession of the premises subject to this deed of c~evelopment rights, pursuant to lease, license, or other arrangement, covenants and agrees that it shall indemnify and hold party of the second part and any of its officers, agents, employees, and, their respective successors and assigns, harmless from and against an'y and all damages, claims, losses, liabilities and expenses, including, without limitation, responsibility for legal, consulting, engineering and other costs and expenses which may arise out of (1) any inaccuracy or misrepresentation in any representation or warranty made by seller in this agreement; (2) the breach or non-performance of any covenants required by this agreement to be performed by the seller, either prior to or subsequent to,the closing of title herein; or (3) any action, suit, claim, or proceeding seeking money damages, injunctive relief, remedial action, or other remedy by reason of a violation or non- compliance with any environmental law; or the disposal, discharge or release of solid wastes, pollutants or hazardous substances; or exposure to any chemical substances, noises or vibrations to the extent they arise from the ownership, operation, and/or condition of the premises prior to or subsequent to the execution of the deed of development rights. This covenant shall run with the land in perpetuity. In the event that the Town attempts to terminate, transfer, or otherwise divest itself of any rights, title, or interests of this deed of development rights without the prior consent of the Secretary of the United States Department of Agriculture and payment of consideration to the United States, all right, title, and interest in these development rights shall become vested in the UNITED STATES OF AMERICA, by and through the United States Department of .Agriculture, its successors and assigns. IN WITNESS WHEREOF, the party of the first part has duly execute this deed the day and year first above written. PECONIC LAND TRUST E. Blair McCaslin, Treasurer STATE OF NEWYORK ) COUNTY OF SUFFOLK ) On the')"-~' day of November, 1997, before me personally came E. Blair McCaslin, to me known, who, being by me duly sworn, did depose and say that he resides at 63 Newman Avenue, Bridgehampton, New York , that he is the Treasurer of the Peconic Land Trust, the corporation described in and which executed the above instrument; and that he signed his name thereto by. authority of the board of directors of said corporatioCb,~~ DEDPLTFI.DOC NANCy' L TAI NITER SCHEDULE ' Peconic Land Trust - Non-Development Area at Peconic, Town of Southold, New York S.C.T.M. No.: 1000-86-1-P/O 9 ALL that cedain plot, piece, or parcel of land, with the buildings and improvements thereo0 e. tec~,ed, situate,-lying and being at Peconic; Town of Southold, County of Suffolk and State of New York, bounded and described as follows: BEGINNING at a point on the westerly boundary line of land now or formerly Robert K. Simon and Elizabeth K_ Simon, said point being situate the following three (3) courses and distances from the intersection of the southerly side of Main Road (N.Y.S: Rte. 25). and the westerly side of Wells Road: South 40 deg. 27 min. 29 sec. West as measured along the southerly side of M, ain Road (N.Y.S. Rte. 25) a distance of 206.55 feet, South 35 deg. 19 min. 29 sec. West still along the southerly side of Main Road (N.Y.S. Rte. 25) a distance of 820.12 feet to the westerly boundary of [and now or formerly Rober~ K. Simon and Elizabeth K. Simon, South 34 deg. 41 min. 41 sec. East along the westerly boundary of land now, or formerly Robed K. Simon and Elizabeth K. Simon a distance of 462,66 feet to a, point; RUNNING thence from said point of beginning South 34 deg. 41 min. 41 sec. East along land now q,r formerly Robert K. Simon and Elizabeth K. Simon, land now or formerly Elizabeth S. Mead, land now or formerly Richard Mead and Elizabeth Mead, land now or formerly Jennie Lee Pierce, land now or formerly Robert Ringold and Maureen Ringold, land now or formerly Norma Jean Mehrman, and land now or formerly John R. Mehrman and Norma J. Mehrman, a distance of 2253.11 feet to land now or formerly Chester H. Skwara and Joyce M. Skwara; RUNNING thence along land now or formerly Chester H. Skwara and Joyce M. Skwara the following three (3) courses and distances: South 52 deg_ 27 min. 09 sec. West 140.22 feet, North 73 deg. 06 min. 01 sec. West 74.93 feet, South 16 deg. 53 min. 59 sec. West I75.00 feet to the northerly side of Wells Road; RUNNING thence North 73 deg. 06 min. 01 sec. West along the northerly side of Wells Road a distance of 341.71 feet to a point; RUNNING thence through land now or formerly Ann Fiore, Et. Al the following five (5) courses and distances: North 34 deg. 55 min. 31 sec. West 55.35 feet, along the arc of a curve to the left having a radius of 500.00 feet a distance of 190.20 feet, North 56 deg. 43 min_ 13 sec. West 360.50 feet, Nodh 49 deg_ 58 min. 55 sec. West 332.54 feet, South 63 deg. 50 min. 23 sec. West 247.46 feet to the highwater mark of Richmond Creek; Page 1 RUNNING thence along the approximate highwater mark of Richmond Creek the following two (2) tie line courses and distances: North 24 deg. 43 min. 54 sec. West 329.08 feet, North 15 deg: 14 min_ 53 sec. West 110.76 feet to a point; RUNNING thence North 72 deg. 14 min. 31 sec. West across Richmond Creek a distance of 38.89 feet to Reserved Area "D", Subdivision Map "Richmond Shores at Peconic" filed in the Office of the Clerk of Suffolk County as File Number 6873; RUNNING thence along Reserve Area "D", Subdivision Map "Richmond - Shores at Peconic" the following thr,ee (3) courses and distances: North 30 deg. 05 min. 21 sec. West 115.00 feet, North 49 deg. 16 min. 59 sec. East 326.10 feet, North 27 deg. 4I min. 91 sec_ West 521.50 feet to land now or formerly James C. McBurnie IIIland Joze McBurnie; RUNNING thence North 27 deg. 13 min. 11 sec. West along land nowor formerly James C. McBurnie III and Joze McBurnie a distance of 252.35 feet to the southerly side of Main Road (N.Y.S. Rte. 25); RUNNING thence North 35 deg. 19 min. 29 sec. East along the southerly side of Main Road (N.Y.S. Rte. 25) a distance of 22.54 feet to land now or formerly Thomas P. Grattan and Dale E. Grattan; RUNNING thence South 27 deg. 13 min. 11 sec. East along land now or formedy Thomas P Grattan and Dale E. Grattan 146.00 feet to a point; RUNNING thence through land now or formerly Ann Fiore, Et. Al the following two (2) courses and distances: South 27 deg. 13 min. 11 sec. East 123.69 feet, North 55 deg. 59 min. 04 sec. East 554.13 feet to the westerly line of land now or formerly Robert K. Simon and Elizabeth K. Simon and the point or place of BEGINNING. CONTAINING an area of 37.2848 Acres. Page 2 Numb~ of pages .... ' ~ · gL~'~'~:-,vv ' uFF~L~ CDu~' Ce~ficate ~ ~ ~ - ~or Cfi. ~ D~d / Mo~gage ~s~t D~d / Mo~gage T~ Stump R~or~ng / F~ng S~ :~:~4 [ , F~S Page / Fi~ng Fee ~ ~ Mo~gage ~t. ) H~ing 1. B~ic ~-5~ ~. ~ 2. A~fion~ T~ No~fion Sub To~l S~_/Add. R~.T.S.A. ]~--. -- ~~~~;~~~ TOT. ~G.T~~'-- Comm. of E& 5 . ~ ~ ~ , Du~ To~ - H~ld for Ap~onment ~fi~t T~sfer T~ Ce~fi~ Copy ~ ~ ~ ~sion T~ . ~e pmpe~y cove~ by ~s mo~s or a R~.C ~Y Sub To~ dwel~ng o~y. ~S ~'or NO ~er ~ / GRA~ TOTAL . of ~ ~s~ment. ~ ~ Real ~operty T~ Service Agency Verification "~ Title Company Information ~ c~ ) Dist. Section Block I Lot I ~ -~ ~7 (NEW Payer sine as R & R % $0 q ~ ~l~ ¢0~ (or if ~fferent~ RECORD & RETURN TO ~7;~(ADDRESS) . Suffolk County Recording & Endorsement Page ~spagefomsp~of~eatmched O~b Ok ~(UQ~ ~%~% madeby: ~ ~'L L~L(~ ~C. ~pmmises he~in is situated SUP'POLK COU~Y, ~W YORK. ' TO ~ ~e ~w~p of~o-~° JUDITH T. TEtLRY TOWN CLEP,~K I~EGISTtL~R OF VITAL STATISTICS MARRIAGE OFFICER I~ECOt~DS MA_NAGEI_ViENT OFFICER .FR. EEDOM OF INFORIVIATION OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON NOVEMBER 12, 1997: RESOLVED that the Town Board of the Town of Southeld hereby authorizes and directs Supervisor Jean W. Cochran to execute a Covenant Not to Sue between the Town, Anne Fiore and Peconic Land Trust with regard to the preservation of the agricultural lands of Anne Fiore. Judith T Terry November 13, 1997 LAURY L. DOWD TOWN ATTORNEY OFFICE OF THE TOWN ATTORNEY TOWN OF SOUTIEOLI) Privile.qed & Confidential JEAN W. COCYIRAN Supervisor Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Telephone (516) 765-1889 Fax (516) 765-1823 MEMORANDUM TO: FROM: DATE: RE: Town Board Laury L. Dowd, Town Attorney November 6, 1997 Fiore Development Rights Acquisition Peconic Land Trust is purchasing the Fiore property, and is prepared to sell the development rights to the Town. The Town has already held a public hearing and authorized the acquisition. Please review the attached covenant, which the Flores and Peconic Land Trust are requiring from both the Town and State prior to purchasing the property. The Fiore property is due south of the oil spill near the Highway Department, and since the contamination is flowing south, the property has been affected. Before Peconic Land Trust or any other buyer would acquire the property, they want assurances that they will not be held financially responsible for the cleanup. The attached covenant provides that assurance. The State is preparing a similar covenant. Since there is no evidence that the Flores have caused or contributed to the water contamination near the Highway Department, the Town is incurring no further liability by executing this covenant, and is ensuring that the majority of this property will remain open space. Please consider authorizing the Supervisor to sign the Covenant. 1~:26 SWG&C-HRUPPRUGE -~ 516 ?65 1823 N0.334 ^ · Th~,~ COlvcnant not to s~ ~e~ , ~ b~een the To~'o~Sou~old, A~e Fief, the cu~t:~peny o~er, ~ ~e P~o~c L~d.T~ t~ potond~ purc~. WITNESSETH-' W~.REAS~ AnncYio~.a~ ~ c ~a~r~-nt owner ..of real property designated as. Suffolk County Tax Map #: 1000-864 ~9,~ seoks to:/musfer the title.to said property to the Peconie Land Trust, the potential purchaser df re, alproperty ~signatexi as Suff0~ County Tax Map #: 1000-86-1-9; and WI-~.REASs the~Peconi¢ Land Tms~ seeks to pre,rye the land. designated as Suffolk County 'Fax Map # t000-86-1-9 from development and retain it in an a~-i.'cultural state; and WHEREAS, the T°Wn of Southold is desirous of the preservation of agricultural land. within thc Town; and WHEREAS, the Tovr~ of Southold is a &fendant in an action brought by the State of New York for damages and compensation for remediation of a certain petroleum discharge designated as NYSDEC spill #85-01219, said action b~ing known as Supreme Court, Albany Couaty, Index No. 1-00436-92. NOW T~.REFORE, the Town of Southold, in consideration of ten dollars ($10.00) and other valuable comsiderati0n; does hereby covenant and agree with Anne Flea: and thc Peconic Land Trust, ~hcir he!rs, ex,caters, admhlisl~ators, successors or assign, that th, Town of Southold will not insfft~tc any suit, action at law or otherwise agaimt Anne Fiom or the Peconic Laud Trust, their heirs, eXecutors, Mministrators, successors or assigns, nor institute, prosecute or in ~ny way aid the i~sfitution or prosecution of any claim, demand, action or cause of action for damages, costs, loss of servia, es; expenses, penaltics~ contribution, or compo'~ation for or on account o£or to result from any liab~ilit~,, known or unknown, which the Town of Southold has ever had, now has or which ~hall or mayi~e!had by reason of thc p~trolcum discharge designatecl as NYSDEc spill #85-01219 or ptusua~ ~/nyj~dgment arising ~om or claim set forth in the action known as ~_Yo~k ~ ~.t~.d, Supr~xn¢.Court, Albany County, Index No. L-004'~6-92 from the beginning of the ~Orld to the date of this covenant. it is further understood and agreed that the payment of the said sum is not to be congtrued as an admission on thc part Of'the Town o£ Southold, Anne Fiore or the Peconie Land Trust of any liability whatsoever. SWB&C'-HAUPPAUBE ~ 526 ?~5 2823 NO. ~708 · The und~signcA e~q~.ssly reserves all ?ights of action, claims and demands against any and all other persons not herein named. this IN WITNESS WIIEI~.iEOF, by re~olution of the Town Board of thc Town of Southold, - d~y o£ ,1997. TOWN OF SOUTHOLD By:. ]'g_,AN C. COCHttAN, ~UPERVI$OR -2- LAURY L. DOWD TOWN ATTORNEY © JEAN W. COCHRAN Super~qsor Town Hall, 53095 ~ain Road P.O. Box 1179 South©Id, New York 11971 Telephone (516) 765-1889 Fax (516) 765-1823 OFFICE OF THE TOWN ATTORNEY TOWN OF SOUTHOLD Privile,qed & Confidential MEMORANDUM TO: FROM: DATE: RE: Town Board Laury L. Dowd, Town Attorney September 15, 1997 Fiori Development Rights Acquisition Peconic Land Trust has been trying to put together a land deal in which the Town buys the development rights and an investor buys the bulk of the farmland on the Fiori property, across the Main Road from the Police Department. This would significantly restrict the potential development of the property. The property sale has been held up by the DEC, who refuses to sign off on the remediation of water contamination from a fuel spill on the north side of the Main Road. This is the same.fuel spill on which NYS is currently suing the Town. The remediation is done, but the State is holding up the sign-off in the hopes of getting the Town to pay the $600,000 remediation bill. Because of this delay, the proposed farmland buyer is ready to wash his hands of the deal. He's set October 15 as the deadline. Peconic Land Trust has contacted Govemor Pataki, asking for his intercession with the DEC to help protect the Fiori property from development. Mike Cahill has been working with PLT, and suggests that the Town also contact Governor PatakJ to intercede. Is the Town Board willing to contact the Governor for this purpose? (5t 6) 28~3195 Fax: (5t6} 283-0235 September 10, !997 Governor George E. Patuki Nbxw York State Executive Camber State Capitol Albany, NY 19_224 RE: Richmond Creek Farm; Propeay situate in the Town of Southold, Suffolk Cotm.ty, New York_ Dear Governor Pataki: The purpose of rkis letter is to enlist your support and influence as chief executiv6 to help us preserve a farm on the North Fork of Long Island- The conservation effort is somewhat complex but let me assu.re you from the start that we are not asking for state ~nds to accomplish our goal. Iarn president of Peconic Land Trust, a nonprofit o~an/zar./on dedicated to the preservation of farmland and open space on Long Island. Our o~-,mization acquires and manages land, as wel/ as easements for conservation purposes. To dare we have protected more than 2,300 acres valued at over S35.7 million, using pal-cate incentives Md comer'vat, ion tools. We have accomplished this at a fraction of what it would have cost for direct public acquisition. Currently, we are in contract to purchase a 50-acre farm in the h.qmlet of Pecouic. The Town of Southold is prepared to commit funds to this effort. Our closing, however, has been delayed by issues related to a ~oundv~ater contamination which originated on property.' across the street from the farm_ The State of New York has been actively mitigating the comaminarion and is now litigating to recover clean up costs. Despite the obvious conclusion that the farm parcel zs not responsible for the spill, we have been unable to obtain any def'mhive assurances from die Sram of New York that we will not be held liable for costs associated with this spill. As a result, we are unable to close on our conlract and may well miss the opporrunlty, to protect the farm_ I respectfully request chat you take action, on the publ/crs beheld to insure that we are able to complete this important conservation effort. Specifically, we could use your assistance in obtaining an indemnity, agreement for the current o. wner of the farm parcel and the Peconic Land Trust as it relates to the groundwater contamination. I attach some additional backg-roundinformation wich regard to the overall effort. Thank you for your kind assistance and attention to Uh. is matter. I look forward to hearing from your office in the near future. Sincerely, President CC: M. Finnegan, R. Cow'an, IC Oliver ..:.ff. Cockran. P_ Acampora, IC LaValte .~LnDITI-I T. 'r~Rl~,Y TOWN CLEP,,K ,~ REGISTRAR OF VIT.~-L STATISTICS b~%RRIAGE OFFICER RECORDS ~L~-NrAGEM~I~T OFFICER FREEDOM OF INFOR¥~ATION OFFICER Towm ATaI], 53095 M~.n Road P,O- Box 1179 Sou/hold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 OFFICE OF TI~II~. TOWN CI.ERK TOWN OF SOUTHOLD December 3.. 1996 CERTIFIED MAIL RETURN RECEIPT REQUESTED Anna Fibre & others Down East Lane Southampton, New York 11968 Dear Ms. Fiore: At the Southold Town Board meeting held on November 26, 1996, the Town Board adopted a resolution to exercise the option to purchase the development rights in your agricultural lands. You are hereby accordingly given notice that the Town of Southold does hereby elect to exercise said option. The Town Attorney will proceed to order the survey and title search of the lands which are-the subject of the option and will then contact you to arrange a closing of title. Very truly yours, ~ENDER: , to receiver~- '~ · Complete items 1 and/or 2 ~r addii/onaJ services, services (fo n '~ ·Cornple~e items 3, 4a, and 4b. ~ ·Pd~t your name a~d address on the reverse of this f~m~ so Ihet we can return this extra fee): \ ~ · - 1. [] Addrassee's A//dress o m ·~ttach ~is form to the Iroet at the ma~lp~ece, or an Ihe baok d space does not '~. ~ delivered. ~lurnber ~ 'o 3.'~ArticleAcidressedto: P 226 182 582 =' ~. Cb. Service Type ~ Anna Fiore$ others [] Registered [] Certi~ed ~ Down East ~-a,~. [] Express Mail [] Ineurad ~ Southampton NY 11968 r-IRetumRece[piforMerohan, d[se ~ COD = -- ~S Forrn3811, Decornber 199~ ~'~ Domestic Return Receip[ JUDITH T. TERRY TOWN CLERK REGISTIL~R OF VITAL STATISTICS MARRIAGE OFFICER ~ECORDS iV~AGEMENT OFFICER. FREEDOM OF INFORMATION OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765~1800 OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS. TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE SOUT.HOLD TOWN BOARD AT A REGULAR MEETING HELD Oh[ NOVEMBER 26. 1996: WHERF,_AS, the Town Board of the Town of Southold wishes to purchase the development rights in the agricultural lands of Anna Fiore & others; and WHEREAS, the Town Board held a public hearing with respect to said acquisition on the 26th day of November, 1996, pursuant the provisions of the Southold Town Code; and WHEREAS, the Town Board deems it in the public interest that the town of Southold acquire the development rights in the agricultural lands, set forth in the proposed acquisition between the Town and Anna Fiore ~ others; now, therefore, be it RESOLVED that the Town Board here elects to purchase the development rights in the aforesaid agricultural lands owned by Anna Fiore & others, comprising approximately 36.5 acres, at a sate price of $6,925.00 per acre; said property located at 42100 Main Road, Peconic, N.Y., Suffolk County Tax ,Vlap No. 1000-86-01-09; and be it FURTHER RESOLVED :hat the town Clerk be and she hereby is authorized and directed to give notice of such acceptance to Anna Fiore & others; and be it FURTHER RESOLVED that the Supervisor be and hereby is authorized and directed to execute any and all required documents for the acquisition of said development rights. Judith T. 'terry ~' $outhoid Town C]erl( November 27, 1996 PUBLIC HEARING SOUTHOLD TOWN BOARD NOVEMBER 26, 1996 5:00 P.M. ON A ACQUISITION BY TOWN OF DEVELOPMENT RIGHTS IN THE AGRICULTURAL LANDS OF ANNA FIORE ~ OTHERS. Present: Absent: Supervisor Jean W. Cochran Councilwoman Alice J. Hussie Councilman Joseph L. Townsend, Jr. Councilwoman Ruth D. Oliva Councilman William D. Moore Town Clerk Judith T. Terry Town Attorney Laury L. Dowd Justice Louisa P. Evans SUPERVISOR COCHRAN: This hearing is on the acquisition by the Town of development rights in the agricultural land of Anna Fiore and others. We will open the hearing, and Bill is going to read the legal notice. COUNCILMAN MOORE: "Notice is hereby given that pursuant to the provisions of the Agricultural Lands Preservation Law of the Town of Southold, constituting Chapter 25 of the Southold Town Code, the Town Board of the Town of Southold will hold a public hearing on the 26th day of November, 1996 at S:00 P.M., at the Southold Town Hall, 53095 Main Road, Southold, New York, on the question of the acquisition, by the Town of Southold, of the development rights in the agricultural lands of Anna Fiore & others, Suffolk County Tax Map No. 1000-86-01-09, consisting of 43.L~ acres at 42100 Main Road, Peconic, New York. Further Notice is hereby given that file containing a more detailed description of the above mentioned parcel is on file in the Southold Town Clerk's Office, Southold Town Hall, 53095 Main Road, Southold, New York, .and maybe examined by an interested person during normal business hours. Dated': November 12, 1996. Judith T. Terry, Southold Town Clerk." I have an affidavit of publication in The Traveler-Watchman, an affidavit from the Town Clerk it was published on the Town Bulletln Board. No correspondence, no other information. SUPERVISOR COCHRAN: Would the Chairman of the committee like to address the Board? pg 2 - PH JOSEPH GOLD: I am Joe Gold, Chairman of the Land Preservation Committee, and I have an aerial photograph of the property in question. Since the Board has already seen it, I will place it facing the audience. As Councilman Moore stated this is agricultural property being purchased, the development rights being purchased by the Town under the Chapter 25 Farmland Preservation section of the Town Code. The Farmland Preservation Committee is very happy to be able to final:ly recommend this property for purchase. We have been negotiating for, I think, over two years. F. rrst of all, it is. prime agricultural land. The parcel you see there in the center, which is bounded on two sides by Richmond Creek, consjst~ of about thirty-slx and a half a.cres of fiirmland~ a..n.d it's. ringed bY~ another ~Welve and a half acres df 'l~[chmond Creek, front, and road ~r~r~t. ,The f~af~]a:nd consi;sts of Haveh. [baa· and Riv~rl~ead Ipam. which are the two gr,ade :farm ~oi~Is in our a~a here. and it'~ very unusual to see ~hem ~hat: cios.e to salt water. T-h~s is a u~tique [~[!eCe of f~rml~red, and ~chose of'¥0~u who drive the Main"l~oad 'know t;l~ it. is part of the vi~a that y.'e~' '~ee as yea COmB .thdoug.h that section. ~,t~ha~ open space on I~ot}~.'sid~s el~:tbp r?ad. T~.e co.m'mitt~e~, i.'~ u~nim~0u~..~n ;~ecprn~ending "t~e pu~cba.se of tra~ de~ opmedt rigPits toi:~,~s ia~d:. ~e, ~r~ai~d va[qe is sh;ght~[y U~..er ~7,000 an acre, so. tl~; total purc~Fse wquld be ~out ~S.~'p0- W~[~e been work[c~g w, ith~t~e P,~Econic ~iq~d ~r-~.~ on t~s ~op~t~f, bec~t~S~ ,part of tl~;. prope~L;t~f' .ts n~c fa~tr~d off C~e,ek ~ront. [t~ '~bui'ldable ~!~s~ and Tim ;~,u~if~ from the ~n~ Trot, is here ~ ~ ~s ~0ni~ and actu~iiy T~ w~: li~ to sa~ ~ (~w ~rds:. The E~d Trust. ,~s'.~otng to purcha~ ~ ent~r~ pro~y f~o~ the F~ore ~p. They ar~ a group o[ investors, .~qm ~ Soutb'~qk, [h~ the Town ~a~ p~hase t~e~ development rightS, ~m '~'h~ '~n~ T~u~. I'll I~t Tim e~pla~n that. TIMOTHY CAULFIELD: Tim Caulfield. I am with the Peconic Land Trust. I am also representing the current owners of the property, ,Fiore group. It's actually a partnership of six individuals who pu'rclnased property back in 1973, and they have held the property since that time basically for investment purposes, hoping at some point to sell i't. probably to a developer, so they could get their money out of the property. Fortunately they have been willing to work with the Trust to sou the property to the Trust at a bargain sale price, and that in effect ~Faas enabled us to work with the Towri to sell development rights to the ~rown at a bargain sale price as well. Joe ½as already spoken about the ~opservation v.a!ues of the property, b~t I think from our prospective one ef ~he more 'important things is tiaa: it is. again, another good Opportunity to have a public, private conservation effort, and really ~t~etch the public dollars, that are I~mited. but available. The Board ~ay recall earlier this year, we workout together on the Thornton-Smith property out in Mattituck, and in that[ instaqCe we were able basically to put the farm uhit back together by w.~rl~ing with the Town in purchasing the developmen~ rights. The Trust a,~.~pted, a conservation easement on t. he balance of ~.he property to protect ~the add~itional acreage through that me:had. In this case with the Fiore p.,r, operty we are not really able to 0re:eot additional acreage, but workirt~ tog.etJher hals enabled us to, in · I ' "' "' t. e fact, bring the value of the propert~ .which was out of reach for h TOwn. and the' Trust, and bring t~ valu~ down to a level that was w thin our reaclh, and in effect enable us to sell the development rights io the tOwn for about $6,900 an acre,, whicl~ [ think is the lowest price pg 3 - PH the Town has paid. So, we just wanted to add our appreciation to the Town Board for working with us again on this project, 'and unless there are any other questions, we urge the Town Board to move forward with the contract. Thank you very much. SUPERVISOR COCHRAN: We would like to thank you and Mr. Gold and the committee for the work they have done on this. It's a job well done. Is there anyone else who would like to address the Board in relation to this? J,ODY ADAMS: I just have a question. You are going to be developing the waterfront? You are going to be selling the waterfront rights? JOE GOLD: What we propose to do is a limited development plan, where we protect most of the agricultural acreage on the lower portion of the ~:reek front. There Will be a limited development component, about eight acres. There will probably be two, maybe three units 'in that area. We wi'Ii have to meet all the setback requirements. Again, it would be someone e!se doing that Work. The person that we wo~ld be selling the property to, but in many: imst. ances limited deve~[opment is really something that needs to 'be done. Farmers, in particular, need to have some equity left in the property, lites their livelihood. Sometime they need to borrow against the land. Sometime~ it represent, s their retirement. Sometimes it's th~eJr col!&ge fund, and mar~¥ of our plan:s when the vaiu~ of the 'property i,s out of our reach~ 'we incorporate limited iJ&velop~ent components to make it ~work. In this ca.se we cer~ir~ly will. The previous plan had ~hirteen units along the creek front. JODY ADAMS: They never did it. They never sold. Those properties ar~e not 'selling. There is an adjacent very similar development, and it's not selling either, so I'm not sure this a very good idea. JOE GOLD: We are trying to take the long view here, and in some point in time ~'e probably are assured that that would be developed. JODY ADAMS: Is there a scenic easement policy in the town of Southold? SUPERVISOR COCHRAN: Yes. JODY ADAMS: What is it? COUNCILWOMAN OLIVA: Reduction in taxes for the opportunity of having a very lovely scene. For instance in Orient, I believe, Captain Tuthill did or maybe he still does have the view going from the Latham Farm Stand right down to the creek, and he has a scenic easement, and that reduces taxes, provided he keeps it that way. JODY ADAMS: There's no mandate that you have to go X number of feet back from a waterfront to allow a visual, and all that kind of stuff? COUNCILWOMAN OLIVA: You have to build at least 75 feet back from the water, Jody. pg ~, - PH © © JODY ADAMS: Because this is going to be destroying: Spring Lane, and it's view of the pristine situation has been amazing. This will totally destroy it. That's all I have to say. JOE COLD: I'd just like to close. I think sometimes we try to do more than we are permitted to do. We're talking about farmland preservation here. The Town is permitted only to buy development rights to land that is currently under agriculture production. That's the thirty-six and a half acres that you. can see from the aerial photograph. It is in production, It has two years now of potato crop. The fact that with working WJth the Land Trust they are able to limit the development, and tha~ prop~e~rty around is a plus..It's an addition 'to what ~e're abide to do under chapter 25 ~f t~e Town Code on the develOPment righ~c~. That's a separ, ate. |~sue. What ~e're talki, n~] about here tonight is the purchase of de~eloprn~i~t for ~Pte th~rty~six a~,cl, a haft acres of farml,ar~l. This whole se~on I~ had two yea~s of potato crops ~n it. t wa~s p owed JODY ADAMS: All the way up to the Main Road? J;OE GOLD: Right to the Main Road, all the way down here. In 1995, 96 there were crops. JODY ADAMS: This is Wells over here, and this is sod. right? JOE GOLD: These are sod farms. This is Wells, this road here, and this had potatoes right up to the Main Road. SUPERVISOR COCHRAN: Please, direct your remarks to the Board. JODY ADAMS: Listen and you'll find out what we're talking about. SUPERVISOR COCHRAN: Thank you very much. It's very kind of you. JOE GOLD: Back to where we were, I would recommend the purchase of the development rights. As Tim mentioned this is a good price for some fine acreage, and we recommednd it to the Board. SUPERVISOR COCHRAN: We agree. Thank you. Is there anyone else who would like to address the Board on the purchase of the development rights, Anna Fiore and anothers? (No response.) Hearing none, weql close the hearing. Judith T. Terry ~/ Southold Town Clerk I,E(;.& I, ~()1'1C I.: ~¢)'I'ICE (')1: H I.:..~,ltl \()'l'l('li ~IS III{RI{BY (~iVE~ tlmt pur~tlal~t tO the pro- ?'i~[on~ ()l'the .,%~ricultural I.und~ Pl'CSCl'X ation J.a~ ortho 'l'm~ n o1' gouthold. constitutin~ Chapter =~ ol'the Soudmld I'm~ n (ode. d~e 'I'o~ n Board of the '1'o~ n of '~outhold will hold a -J~eari.g on the 261h d~l)' of ~o- '-¥ember, 1996. at 5:~() P. TI.. 'the S~mhold I',.~ n I lall ....~( Main Road. Southold. New .)'ork. on Ihe question ol'll,e 'qui~iLJOn. hr-the Town of SouJhoJd. o1: lbo devc'lopmenl fi~hts in the ugrJcuJLural lands of Anna I;ii~re ~ olher~. SLd'lblk County Tax Nlap Xo. 1000-~6- 0 -(.)9. consi~tin,, ot'43 44 acres aL 42100 Main Road. Peconic, New York. F['I{'I'H I~R N CYI'[ (~[~ III~RIdTY GIYEN that a file conlainmg a more detailed scriptfons or' the ~]box. e men- tioned parcel is on file in the South(fid Town Clerk's Office. Soulhold Town Hall. 53095 Main Road. Southokl. No~ York and p]a~. be examined by mw interested person during business hours. Dated. NoYember 12.1996 JUDll'I I T. SOL, TI I()1 .D TOWN CI.ERK IX-II 2 I.'96(I 2) COUNTY OF SUFFOLK STATE OF NEW YORK ss: Patricia C. Lollot, being duly sworn/says that she is the Production Coordinator, of'fl~e TRAV- ELER WATCHMAN, a public newspaper printed at Southold, in Suffolk County; ancl that the no- tice of which the annexed is a printed copy, has been published in said Traveler Watchman once each week for / ........................................................................ weeks successively, commencing on the .....~../. ...... '.'~.. Sworn to before me this .... .'.~...J..~ ......... day of ................. .......................... Notary Public BARBARA P. SCHNEIDER NOTARY PUBLIC, State of New'York,, - No. 4806846 - Qualified in SUffolk Couflt~ ~,m :'- STATE OF NEW YORK) SS: COUNTY OF SUFFOL'K) JUDITH T. TERP.¥, Town Clerk of the Town .of Southold', New York, being duly sworn, says that on the 15th da'/ Of November , 1996, she affixed a netice of which the annexed printed notice is a true copy, in a proper and substantial manner, in a most public place in the Town of Southold, Suffolk County, New York, to wit: Town Clerk's Bulletin Board, Southold Town Hall, Main Roacl, Southold, New York '11971. Legal Notice, Notice of Hearing on the question of the acquisition of development rights in the agricultural lands of Anna Fiore & others, 5:00 P.M., Tuesday, November 26, 1996, Southold Town Hall. Sworn to before me this 15th day of _Novemh~r, 1996. Judith T. Terry Southold Town Clerk No~a r,/ PulSlic LEGAL NOTICE NOTICE OF HEARING NOTICE IS HEREBY GIVEN that pursuant to the provisions of the Agricultural Lands Preservation Law of the. Town of Southold, constituting Chapter 25 of the Southold Town Code, the Town Board of the Town of Southold will hold a public hearing on the 26th day of November. 1996, at 5:00 P.M., at the Southold Town Hall, 53095 Main Road, Southold, New York, on the question of the acquisition, by the Town of South,oLd, of the :devel.opment rights in the agricultural lands of Anna Fiore ~, others, Suffolk Count,/ Tax Map No. 1000-86-01-09, consisting of 43.~ acres at 42100 Main Road=, Peconic, 'New York. FuRT~tER NOTICE IS HEREBY GIVEN that-a file containing a more detailed description of the above mentioned parcel is on file in the Southold Town Clerk's Office, Southold Town Hall, 53095 Main Road, Southold, New York, and maybe examined by any interested person during normal business hou rs. Dated: November 12, 1996. JUDITH T. TERRY SOUTHOLD TOWN CLERK PLEASE PUBLISH ON NOVEMBER 21, 1996, AND FORWARD ONE (1) AFFIDAVIT OF PUBLICATION TO JUDITH TERRY, TOWN CLERK, TOWN HALL, PO BOX 1179, SOUTHOLD, NY 11971. Copies to the following: The Traveler-Watchman Town Board Members Town Attorney Land Preservation Committee Anna Fiore Town Clerk's Bulletin Board ~ -~, ~i ~ "" LEGAL NOTICE ~ ' ~ NOTICE~ ~F HEARING NOTICE IS HEREBY GIVEN that pursuant to the provisions of the Agricultural Lands Preservation Law of the Town of Southold, Constituting Chapter 25 of the Southold Town Code, the Town Board of the Town of Southold will hold a.public hearing on the 26th 'day of November, 1996.- at 5:00 P.M., at the Southold Town Hall, 53005 Main Road, Southold, New York, on the question of the acquisition, by the Town of 5outhold~ of the development rights in the agricultural lands of Anna Fiore [ others, Suffolk County Tax Map No. 1000-86-01-09, consisting of 43.44 acres at 42100 Main Road, Peconic, New York. FURTHER NOTICE IS HEREBY GIVEN that a file containing a more detailed description of the above mentioned parcel is on file in the Southold Town Clerk's Office, $outhold Town Hall, 53095 Main Road, Southold, New York, and maybe examined by any interested person during normal business Dated: November 12, 1996. JUDITH T. TERRY SOUTHOLD TOWN CLERK PLEASE PUBLISH ON NOVEMBER 21, 1996, AND AFFIDAVIT OF PUBLICATION TO JUDITH TERRY, HALL, PO BOX 1179, SOUTHOLD, NY t197~. Copies to the following: The Traveler-Watchman Town Board Members Town A'tto rney Land Preservation Committee Anna Fiore Town Clerk's Bulletin Board FORWARD ONE (1) TOWN CLERK, TOWN JUDITH T. TEBAIY To~rN CT .ER~{ P, EC-ISTRAR OF VITAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF IN'FORNIATION OFFICER Town Ha]], 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 OFFICE OF TI-I~ TOWN CLERK TOWN OF SOUTHOLD THIS IS TO CERTIFY THAT THE FOLLOWING RESOLUTION W~ ADOPTED BY THE SOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON NOVEMBER 12. 1996: RESOLVED that the Town Board of the Town of Southold hereby sets 5:00 P.M., Tuesday, November 26, 1996, Southold Town Hall, 53095 Main Road, Southold, New York, as time and place for a public hearing on the question of the acquisition of development rights in the 'following Agricultural Lands: Anna Fiore & others, SCTM~1000-86-01-09, 43.44 acres, 42100 Main Road, Peconic, N.Y. Southold Town Clerk November 13, 1996 Town Hall, 53095 Main Road P.O. Box 1179 Southoid, New York 11971 Fax (516) 765-1823 Telephone (516) 765-180l LAND PRESERVATION COMMITTEE TOWN OF SOUTHOLD November 6, 1996 Judith T. Terry Town Clerk Southold Town Hall. P.O. Box 1179 Southold, NY 11971 Dear Mrs. Terry, The Southold Land Preservation Committee would like to recommend to the Town Board that the Town purchase the property of Anna Fiore, Route 25, Peconic. (Tax Map No. 1000-86-1-9). There are 36.5 acres to be purchased at a cost of $6925.00 per acre: for a total of $252,762.50. Very truly yours, · Chairman ~ PECONIC~ND TRUST 296 Hampton Road, P.O. Box 2088, Southampton, NY 11969 5,'Is. Laury Dowd Southold. Town Attorney's Office Town Hall. 53095 Main Road-PO Box 1179 Southold, NY 11971 Re: Property of Anna Fiore & Others SCTM# 1000-086.00-01.00-009.000 (516) 283-3195 Fax: (5[6) 2S3-0235 October 28, 1996 Dear Ms_ Dowd: I enclose, for your information and rile, a copy of the purchase option ageement betxvean Anna Fiore, et. al. and the Peconic Land Trust. We have until late January of 1997 to 'close on the deal. The Fiore's attorney is circulating an Owners Endorsement for s~gnatures giving us permission to move forward with the process. I will forward a signed copy to your office as soon as k is received. For a vmSety of reasons, our conservation tax attorney has recommended the following sequence of events at the simultaneous closing: First: Bargain Sale (Anna Fiore et. al to PLT) Second: Sale of Development R/ghts (PLT to Town of Southold) Sale of Restricted Fee (PLT to George Braff) Fourth: Gift of Conservation Easement (George Braff to PLT) It is also very important that these transactions be recorded in this sequence as well. Therefore xve would like to use the same title company for all the transactions. I will call you sometime next week to discuss this in further detail. Joe Gold informs us that there will be approximately $255,000 available for the Town purchase. Therefore, we have prepared the attached exlnibit wbnch shows 36.5 acres subject to the town's development rights deed (To~xm appraisal is $6,925/acre). We will forward a copy of the final survey and metes & bounds description as soon as they are completed_ You are welcome to use this survey in lieu of having another one prepared. Finally, given the number of parties and transactions involved, it would be most helpful if we could schedule the closing xvell in advance. V9 e are lookin~ to the second week of January for possible closing dates. Please call if you have any questions or comments. Thanks again for your assistance. Project Assismnt George Braff Joe Gold Q'DAVID C- WIMPELBERG, SRA O APPRAISAL OF ADDRESS 4-2100 Main Hoed Peconic, New York 11958 FOR Town of Southold - Land Preservation Committee Town Hall, 53095 Main Road PO Box 1179, Southold, New York ASOF December 11, 1995 BY David C. Wimpelberg, S~. NY State Certified General Real Estate Appraiser License No. 46000004855 22 East Masem Square, East Patchogue, New York 11772 FormFi[l® PC-PlusTM (800) 282 4805 DAVID C. Nx,.'S CERT1TIZD GE~ER),X. ' PEAL ES'I~ATE Ai:~P1L-%ISER LIC. #4600000-1855 WIMPELBERG, 22 EAST IXLa.$EIt£ SQLLM~.E · EAST PATCHOGLT£, NEW YOILK l 1772 (516} '286-1806 F.X.-'<('516) 286-6239 office:'of the Towh Clerk Town of Southold, Tow~ Hall 53095 Main Road, PO Box 1179 Southold, New York 11971 ATTN: Judith T. Terry Southold Town. Clerk SRA February 12, 1996 R:E S1DENTIzYL COMMERCL*L INDUSTI~IAL Re: Appraisal of Property of Anna Fiore & Ors. 42100 Main Road (Rte. 25), Peconic, New York SCTM NO. 1000-86-01-09 11958 Dear Ms. Terry: In accordance with your request, I have personally inspected the above captioned property and prepared a Summary Appraisal Report to determine the Estimated Market Value of the Development Rights of subject 43.44+- vacant acres. Consideration was given to the topography, zoning, neighbor- hood, highest and best use and *other factors effecting value. Based on the data and conclusions set forth in the following pages, in my opinion, the Estimate4 Market Value of the Develop- ment Rights of the subject property, as of December !1, 1995, was: THREE HUNDRED TWO THOUSAND DOLLARS ($302,000.00). I hereby certify that I have no undisclosed interest in the property and that my employment and compensation are not contin- gent on my valuation. I have appraised the Development Rights of the subject property, subject to the contingent and limiting con4itions outlined herein. DCW/jw encls. Very truly yours,~ ///~, D~vid C. Wimpe~erg, SR~ NYS Certified/~eneral / Real Estate Appraiser / Lic. No. 46000004855 / *SEE COMMENT REGARDING CONTAMINATED GROUND WATER. O 0 THE APPRAISAL PROBLEM: The goal of this report is to estimate the .Market Value of the Development Rights of the subject property. THE APPRAISAL PROCESS: The estimate of the development rights of the subject property Will be achieved by a three step process. STEP NO. ! - The Appraiser will estimate the "As Is" Market Value of the'subject property in Fee Simple Ownership (with all of the *Bundle of Rights). The actual process will be to select sales of comparable vacant parcels and compare them to the subject. Dollar adjustments will be made for differences and a final value estimate will be made. STEP NO. 2 - In this step, the same comparison process as Step No. 1 will be made. The major difference will be that the comparable sales selected will be sales of vacant parcels whose development rights were previously forfeited or sold. STEP NO. 3 - In this step, the Appraiser will deduct the estimated value of the subject parcel without Development Rights (Step 2) from the estimated value in Fee Simple Ownership (Step 1) with all of the rights. The resulting value estimate will be that of the subject property's development rights. *The rights normally included with real property; right to be sold, rented, developed, etc. DAVID C; WIMPELBERG, SRA LAND APPRAISAb REPORT Bo~mver OWNER - Anna Fiore & Ors. CensusTroct 1700.02 Prope~Address 42100 Main Road RLSH2 SMSA 5380 !,,lap Peterenee HAG H40-29 City Peconic Coum:, Suffolk LegolbescrTption SCTM NO_ 1000-86-01-09 Sole Pdc~ $ N~A Dote of Sole N/A Loan Terrr N/A :,~. State New York .zip Code 11958 Proper['/Rigl,tsAppraised [] Fee [~] Leasehold [] DaMin[mls PUD idualP,~lEsla~efs~e~$ 11,246.98 ffr) L,:onchargestcbep,uMbvsel[er$ N/Aothersulescon,:essions N/A _enler'Client Town of Southold-Land Prsve. ComitteeAddre~Town Hall, PO Box 1179, Southold, ~ 11971 ~ccupan+Vacant Land ~ppra;s~ DC Wi~elberg, S~nst~ctionsta~ppra;serEstimate ~ of Development Rights ac,lion E~ Urban [] Sdburban [] Rural :rope~/Veues ~ Increos;ng ~ Stable ~ Pecl;n;ng Mar~qg Time ~ gnder 3 mos. ~ 4-~ mos.' ~ O~er 6 mos ':~; k ~Fromn To Good Avg. ~lr Poor .th:sefa,sto~,a'..,3rabeordna, orabe, a ectnqma~etobty(egpubl;cparLschoolsvav,,r,o~): SEE ATTACHED NEIGHBORHOOD DATA SHEET. See Att. Map of 'Land - John Longo [] None [] None ~ None = *43.44 Acre Sq. Ft. orAcres [] ComerLot Present improvements [] do [~ 63 not confarm to zonbg reguioSons [] Present use EX~Other(specif/'! Improve with suitable SE dwellings when dentand increases. Other(Desznb~) OFF ~ITE IIJPPC,, EMEHiS 7 Tnpo General l~ Leve~ ;u,foce Aspha~~/Shap~ Irre~ula~ Maintenan,ze ~ Publ[c ~Pr;v~telVi*¢, Some Wa~erviews ~ s~o~s~..,.~ E~ '-.,¢rb.,,,~*t~¢/c',=,n.:g~ Average Some Curbzng ~ Dde.',:lk ~ Street L,ghts [[s the pmpeay lacated in HUD identified Special Flood Haza~ A~a? ~ No ~ Yes ATTACHED ADDENDUM ITEM SUBJECT PROPEPT F 42100 Main Rd. Peeonic, NY COMPAR4BLE N,3. I 37325 Main Road 1000-85-02-14 COMPP~BLE H,3.2 COMPA~BLE NO 3 e/s So. Harbor Road 950. Bergen Avenue 1000-75-04-22.1 1000-112-02-01 See Att_ Sales Map See Att. Sales Map See Att. Sales Map $ Per Acre $ 13,329 $ 13,350 $ 16,087 $ Total ~ 486,500 ~ 235,000 $ 185,000 SufRes/Inspect Suffolk Res/Ins Suffolk Res/Inspect Suffolk Res/inspect DESCRIPTION D£SCRIPTION k'i )$ Adjust DESCRIPTION F<-:'$Adjust DESCRIPT,Otl h( )$ Adjust O Clos 5/95 ~ O 0 Average / 0 11.5 Acres/Avl +1,609 12/95 Clos 6/93 Clos 5/94 Average Average ~4 Ac/AV 36.5 Apres/Ay +1,333 17 6 Ac/AV WV * 30',O00SF) SO,O00SF) 0 R-BO utzizty Uooa Superior -2,666 Similar 0 )erlor -4,022 ~Deed Liber/Page 11634/153 11677/262 0 11724,/282 0 Water Addit. Cost No -1,333 No -1,335 No -1,609 2,666 1,335 4,022 i0,663 12,015 12,065 A diligen~ search by the Appraiser for comparable sales disclosed that those listed above were the bFst available. No time adjustment was taken for 1994/95 due to an oversupply of hames and vacant land and a generally flat market. SEE ATTACHED ADDENDUM Subject Estimated Value Per Acre $11,484.00. See attached addendum for additional explanation ~*ZONING - As previously mentioned, ¢inimum 80,000 square foot is unlikely. MARKET VALUE, AS DEFINED, OF SUBJ£CT C. Win December i1, 19 95 tabes 498,900.00 246_7 FarmFill® PC--ptusTM (~O0) 262--4805 ADDITIONAL COMMENTS SITE COMi~NTS: SEE ATTACHED'EXPLANATION ON SITE CONSIDERATION ADDENDUM. There are no apparent adverse easements or encroachments ADVERSE CONDITION - Ground water is contaminated. See attached addendum for further explanation. ADDITIONAL ZONING COMMENT- Current zoning map shows subject p~rcel is "R-80" zoned; however, according to Mr'. Gold of Town of Southold L~nd Preservation Committee, a Special Agreement has been reached allowing subject properly to fail under "R-40" zoning guidelines. COMMENTS AND CONDITIONS OF APPP~ISAL: THE APPRAISER WAS NOT SUPPLIED WITH A DEED, TITLE REPORT OR ACCURATE SURVEY OF THE SUBJECT PROPERTY. The s.ize, configuration and topography zs assumed'to be as observed by the Appraiser, as shown on the Suffolk County Tax Map, as disclosed in a let%er from the Town o7 Southold dated August 10, 1995 ~nd shown on Map of Land of John Longo attached tp this report_ THE ADJUSTMENTS ARE PERCENTAGES EXPRESSED IN DOLLAR AMOUNTS. STEP NO. 1'- WEIGHTED COMPARISON (WITH ALL RIGHTS) ADJUSTED SALE SALE NO.. PRICE PER ACRE 'ASSIGNED WEIGHT WEIGHTED VALUE 1 $ 10,663.00 40% $ 4,265.20 2 $ 12,015.00 40% $ 4,806.00 3 $ 12,065.00 20% $ 2,413.00 Total Weight 100% TOTAL WEIGHTED VALUE'PER ACRE ROUNDED TO $11,484.20 $11,484.00 In the above Weighted Comparison, the Appraiser assigns a weight to each comparable sale based upon it's overall compar- ability, resulting in a Weighted or Correlated Value Per Acre. MARKET VALUE ESTIMATE: Estimated Market Value Per Acre Total Acres ESTIMATED "As Is" VALUE WITH ~T.T. RIGHTS ROUNDED TO $11,484.00 43.44 $498,864.00 $498,900.00 ¢ 0 O NEIGHBOP. HOOD DATA: The subject neighborhood is well defined by similar land uses to the north by Main Road, south by Hog Neck Bay, to the east by Southold Bay and west by East Creek. The subject property is located within a well established~ waterfront residential/farm community. Land uses .include large tracks of farmland, vineyards and wineries, agricultural related, retail stands and residential homes on scattered parcel, s and in subldivisions. The more expen- sive homes tends to be waterfront or have a waterview. There are general highway business uses across from the subject property on Main Road. The neighborhood enjoys a good reputation and the subject is located convenient to local shopping, good recreational facilities and other desirable residential amenities. 0 O SITE CONSIDERATIONS: Mr. Joseph G01d of the Land Preservation Committee, has disclosed to'the.Appraiser that the water ~nder the subject. property is not potable due to petroleum contamination. It would therefore be necessary for public water to be brought to the property in order to develop the Subject parcel to it's'highest and best use. The nearest water main is located approximately one mile east of the subject property. According to' a representative 'of the Greenport Water Company, they have'a moratorium on extending their water mains to new sub-divisions. With the current unavailability of public water, the Appraiser considered alternate solutions. 1. Drive very deep wells for each dwellings or 2. Purchase drinking water. Either of these solutions would be more costly than normal development and due to the groundwater pollution, it is unlikely that ~he municipal authorities would allow a maximum yield. The minimum allowable lot would probably be 80,000 square feet as opposed to 40,000 square feet. The second site consideration is for an un4esignated one acre portion (on which the house and barn are located) and the wetlands along Richmond Creek NOT BE inclu4e4 in this appraisal. A general consensus between the representatives of The Nature Conservancy, Peconic Land Trust and the Appraiser, is that a 150' strip along the creek be excluded. Following are necessary calculations: Length along Creek - 1,500+- Feet Width X 150+- Feet Total 225,000 Sq. Ft or 5.17+- Acres © © SITE CONSIDERATIONS: (C'ond) Total Subject Parcel Acres Wetland Portion (Not Included) House & Barn Parcel REMAINDER TO BE APPRAISED 49.61 Acres - 5.71 Acres 1.00 Acres 43.44 Acres DAVID C. WIMPELBERG, SBA LAND APPRAISAL REPORT R SHZA "i~j ~on-ovzer Census Tract .Mop Reference ~ SalePrice$ DateofSale ' LoanTen~ ;rs. PropeA~ RightsAppra;~m ~ Fee ~ Leosehold DeMinimis PUD Lo~mion ~ urb, on ~ Sdburb,~ ~ RO,'a[ O0~' A'g. Fo;r P~or Eu;l~'Jp ~ ,3.er-~* [] 25~toTb~ [] IJn,d,r25~ :mplo/m~n~St,ubilit~ ~ M~&t~n9 Time ~ Under; mo,. E] ~ 6 ri,os. (~ Ffesent Lend Use z f Fomhy z 2-4 Fao,i/ ~ Ap~s. ____ % Condo Changein Present Land U~¢ ~ lot L~l<el~ ~ Lkdx(*) ~ ~edominan[ Oc:dp, m,.:> ~ O,vner ~ Tenon[ ~ ;ingleFam[l> Pr,ce e, nge $ to$ ¢redominant';alue$ Ger, eror,tppear'anceef Prope~ies Highest and best use ~[ Present use ~ Oihe~specTf~l ~:. Gas ~ ~¢,~o,:e S~pe ~: ~Vate~ ~ Ma,n(enonce ~ Public ~Pr;,ate ;~San. Se',ver ~ ~ S[ormSe,.,,er ~ Curb. GutLer Dr,2indge ::~ ~ Underground Elec.~ Td. ~ S[de,v,3lk ~ Street Lights Is the prape~y located in HUD identified Special Flead Haza~ Area? ~ No ~fes ~:~>::': ffEbl ~ SdSJECT PROPEED ~ COL,IPA~BLE HO. 1 COMPARABLE H0.2 COMPAE~BLE NO. 3 ::~[~=¢ ~adr~s,42100 Main Rd.,w/s Hulse Landing Rd. w/s Herren Avenue 1394 Main Road [Peconie, NY 600-58-01-2_~ 600-62--02-5. ~ ~00-68-01-~4.3 IIIIlllllllll s~ ALt. Sales Map See Att. SAles Map See Att Sales Map l$ To lllllllllllllllllll $ gO3,000 Illlllllll me,5oolllllll $ 990,000 }~ ~t, sou,.~, Jlnspection ~k Res/Inspect Suffolk Res/Inspect Suffolk Res/Inspect ?~rr~Adjustment I~Z/Ub ICZo~ Z,/93 ' 0 Clos 5/95 0 Clos 10/93 ~ ~cat;on IAverage IAverage 0 Average 0 Average ~lS~.~},~,n~ 1~$4 Ac/Ay ~l~3~Ae/AverI ~ :,;Utility IGood IG°°d I 0 Sup Road Frt. -48a Superior -I,BSO ~ Seed IMber/~age Ill~lB/~BB , 0 117a~/731 0 1194~/811 ? tmprovement~m~ominal 0 Nominal 0 Barns/Corrals -1,188 ~l~b ~.,*d~';' ~ Pbs X~us $ 316 Ph~J Imams ~ 0 ~P,~s~k~inus [ ~,376 ".;: -I $ , 4,818 $ 5,544 {gl~omment~nnMor[,etDm~o: Sales of parcels on which development rights have been forfeited are no~ eomon. ~:~j' A ~iligent search disclosed the sales selee[ed were the best available. Although these ::]~sales were some distance from the subject, they possessed similar characteristics. ~ ~rmal~co,-,ciliad~n: SE~ ATTAC~D WEIGHTED CO~ARISON PAGE - STEP NO. 2 ,:~ Subjeek Estimated Value per Acre - $4 531 O0 x 43.44 Acres = $196,827.00 _ aOU D D To $m6,900.00 ;[~, aVld C. Wlmpelberg, ~ /~ / ~Did ~O~dHotPh, sicamm~m~pectPrope¢k Fon~FiJl~ PC-PlusTM (800) STEP NO. 2 - WEIGHTED .COMP~ISON (WITHOUT DEVELOPMENT RIGHTS) ADJUSTED SALE SALE NO. PRICE PER ACRE ASSIGNED WEIGHT 1 $ 3,478.00 35% 2 $ 4,818.00 40% 3 $ 5,544.00 25% Total Weight 100% WEIGHTED VALUE $ 1,217.30 $ 1,927.20 $ 1,386.00 TOTAL WEIGHTED VALUE PER ACRE ROUNDED TO $ 4,530.50 $ 4,531.00 In the above Weighted Comparison, the Appraiser assigns a weight to each comparable sale based upon it's overall compar- ability, resulting in a Weighted or Correlated Value Per Acre. MARKET VALUE ESTIMATE: Estimated Market Value per Acre Total Acres ESTIMATED "As Is" VALUE WITHOUT DEVELOPMENTS RIGHTS ROUNDED TO $ 4,531.00 X 43.44 $196,827.00 $196,900.00 STEP NO. 3 - V~-LUATION OF DEVELOPMENT RIGHTS Estimated Market value of subject Property in "Fee Simple" ownership WITH ~-LL RIGHTS $498,900.00 Estimated Market Value of Subject Property WITHOUT DEVELOPF~ENT RIOHTS -$196,900.00 ESTIMATED MARKET V~-LUE OF DEVELOPMENT RIOHTS $302,000.00 ESTIMATED MARKET VALUE PER ACRE S 6.952.00 ~ DAVID C. WII~PELBERG, 'SRA ' FOR FEDERALLY RELATED TRANSACTIONS Borro,;er',Slier, t OWNER Annul Fiore & Ors. Prop~rc ~,~re~ 42100 Main Road Ci% Peconic ,i,:~unty ·Suffolk £tcte Naw York ~pCoae 11958 Lc, ,der N/A statements which have been checked by the appraiser apply [o [he property being appraised. I~ PURPOSE & FUNCTION OF APPRAISAL ~' EXTENT OF APPRAISAL PROCESS SUBJECT PROPERTY OFFERING INFORMATION L.i is currently offered fo,' SALES HISTORY OF SUBJECT PROPERTY FEMA FLOOD HAZARD DATA "C" 360813-0091E 8,/16/93 Town of Southold ~' ~'~ ~ ' O' .DA¥ID C. ~IMPE~ERC-, sRA 1~ CURRENT SALES CONTRACT [] The s~bjact pr'op~r~x is current}y not under cDntra¢~. ADDITIONAL CERTIFICATION ADDITIONAL (ENVIRONMENTAL) L~ITING CONDITIONS ADDITIONAL COMMENTS This appraisal is presented in a Suramary Appraisal Report Form in compliance with the USAP Standards Rule 2-2, which requires the extent and type of report to be disclosed. APPRAISER'S SIGNATURE & LICENSE/CERTIFICATION /) ._ ~/)/~ // ~///./x/ ~psrc:=¢= flame tpnnt, Davtd C Wire o ere, ~ A Ph, ~ ~ , 516 , 86-1806 New York ~Lce0se ~X',£:O?~lc~,¢ 46~00004855 ~c~,~ Prowded upon Request ~_~ CO-SIGNING APPRAISER'S CERTIFICATION [] I~ CO-SI~ING APPRAISER'S SIGNATURE & LICENSE/CERTIFESATION F,'i-TOrf 246 Farmfi[l® PC PlusTM (800) 262 4805 JLIL¥ 1991 ~Ferms & Worms Inc. All Rights Reset, ed L_o.c_at_io_n_ _M ap., .pECONI( 11958 '-HOGUE HOG NECK BAY LITTLE HOG NECK NASSAU POINT © © I' © @ © ./ :! N 0 rn N ............ 6v-o-u~ .......... N N mZ DAVID C. WI~IPELBERG, SPA DEFINITION OF MARKET VALUE: The re:s( 5rcboble price :.nich c ?~2pe¢, ~hould bnng ;n o compet;ti,~ and apea and the pa-~sing o: t[T,e Tram ~elle,' to b,;¢.er under conditions whereb¢: (I) Db~er :nd seller t~picdt;/ mof;,'ated; i12) Doth parLi~ STATEMENT OF LIMITING CONDITIONS AND APPRAIS[R'S CERTIFICATION OUi~IFI~ION$ OF Davi4 C. Wimpelberg, SRA N~S Certified General Real Estate Appraiser ' License No. ~600000~855 · Since 1967 he has served'as a Staff Real Estate Appraiser, Bank Officer and Chief Appraiser with various lending institutions. He'has also been employed by the Department of Housing and Urban Development and as an Independent Real Estate Appraiser. He has appraised real property in Nassau, Suffolk, Queens and Westchester Counties, which has included industrial, commercial and residential properties. He has been retained by attorneys, corporations, lending institutions, Utility, Municipality and Government Agencies, as well as, private individuals to appraise various types of realty for the purpose of mortgage loans, purchase and sale, estate tax, relocation, equitable distribution, etc. He is qualified to testify as to the value of real pro- perty as an expert witness in Court and has done so in the Supreme Court, County of Suffolk, New York. He has served as a Small Claims Hearing Officer for the Supreme Court, Suffolk County Assessment Review, Small Claims Division. He is a Senior Residential Member of The Appraisal Institute and The New York Society of Real Estate Appraisers. He served for eight years as an Adjunct Instructor with the Evening Division of Suffolk County Community College, Selden, New York. EDUCATIONAL BACKGROUND 19.72 University of Virginia, Charlottesvills, Virginia - Real Estate.Appraisal Course No2 i, American Institute of Real Estate Appraisers. 1972 Poly~echnical Institute of Brooklyn, Farmingdale, New York - Principals of Income Property Appraising, Society of Real. Estate Appraisers. 1972'Adelphi University, Garden City, New York - Studies in Real Estate Appraising Courses No. 1 and 2,.Columbia Society of Real Estate Appraisers. 1970 Suffolk County Community Colleqe, Selden, New York A.A.S. Degree in Business Administration - Real Estate, Banking and Insurance. 1969 Hofstra University, Hempstead, New York - Princi- pals and Techniques of Residential Appraising, Society of Real Estate Appraisers. 1974/76 American Institute of Banking - The American Institute of Banking - Standard Certificate. 1968 to Present - Society of Real Estate Appraisers, New York State Society of Real Estate Appraisers and Columbia Society of Real Estate Appraisers - Various seminars and workshops. ADDITIONAL DATA Society of Real Estate Appraisers - Served on Board of Directors and various committees. ADDITIONAL DATA (C'ond) As of the date of this report, He has completed the requirements of the continuing education, program of The · Appraisal Institute. New York State Certified General Real Estate Appraiser License No. 46000004855. JUDITH T. TEP,,R¥ TOWI~ REGISTI~ OF YTFAL STATISTICS MARKIAGE OFFICER · ~RECORDS MANAGEMENT OFFICEI{ FREEDOM OF INFORMATION OFFICER Town Hail, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-I823 Telephone (516) 765-1800 OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD August 10, 1995 David C.' Wimpelberg, SRA Real Estate Appraiser - Consultant 22 East Masem Square East Patchogue, New York 11772 Dear Mr. Wimpelberg: Enclosed is a certified resolution of the Southold Town Board, adopted on August 8, 1995, engaging your services to conduct an appraisal on behalf of the Land Preservation Committee on the property of Anna Fiore. Very truly yours, Judith T. Terry $outhold Town Clerk Enclosure' cc: Land Preservation Comm. JUDITH T. TERRY TOWN CLERK REGISTRAR OF V]TAL STATISTICS MARRIAGE OFFICER RECORDS MANAGEMENT OFFICER FREEDOM OF INFORMATION OFFICER Town Hall, 53095 Main Road P.O. Box 1179 Southold, New York 11971 Fax (516) 765-1823 Telephone (516) 765-1800 OFFICE OF THE TOWN CLERK TOWN OF SOUTHOLD THIS IS. TO CERTIFY THAT THE FOLLOWING RESOLUTION WAS ADOPTED BY THE sOUTHOLD TOWN BOARD AT A REGULAR MEETING HELD ON AUGUST 8. 199S: RESOLVED that the Town Board of the Town of Southold hereby engages .'. the services of David C. Wimpelberg, Certified Real Estate Appraiser, to · conduct an appraisal on behalf of the Land Preservation Committee, at a fee of $1,000.00, on the property of Anna Fiore, Route 25, Peconic, N.Y. (Tax Map No. 1000-86-1-9), approximately 49 acres. Judith T. Terry ~' Southold Town Clerk August 9. 19gS Town Hall, 53095 Main Road P.O. Box I179 Southold. New York 11971 Fax (516) 765- 1823 Telephone (516) 765-I801 LAND PRESERV'AT}ON COMMITTEE TOWN OF SOUTHOLD August Z, 1995 Mrs. Judith T. Terry, Town Clerk $oOthold Town Hall P.O. Box 1179 Southold, NY 11971 Re: Appraisal for Land Preservation Committee Dear Mrs. Terry: At the Land Preservation Committee meeting of August 3, 1995 the committee voted to have Mr. David C. Wimpelberg, SRA conduct the following appraisal: Anna Fiore Route 25 Peconic, N.Y.:' Tax Map #1000-86-1,9 Approx. 49 acres Therefore, we would like to recommend to the Town Board that Mr. Wimpelberg be contracted to perform this service for the committee at a fee of $1,000.00. JMG:jw Very truly yours, OUALIFICATIONS OF APPRAISER David C. Wimpetberg, S~A NXS Certified General Real Estate Appraiser License No. H6000004855 property'in Nassau, wkich has included properties. Since 1967 he has se~-ved as a Staff.Real Estate Appraiser, Bank Officer 'and .Chie~'Appraiser with various lending institutions. .He has also been employed by the Department of Housing and Urban Development and as an Independent Real Estate Appraiser. He has appraised real Suffolk, Queens and Westchester Counties, industrial, commercial and residential He has been retained by attorneys, corporations, lending institutions, Utility, Municipality and Government Agencies, as well as, private individuals to appraise various types of realty for the purpose of mortgage loans, purchase and sale, estate tax, relocation, equitable distribution, etc. He is qualified to testify as t~ the value of real pro- per~y as an exper~ witness in Court and has done so in the Supreme Court, County of Suffolk, New York. He has served as a Small Claims Hearing Officer for the Supreme Court, Suffolk County A-ssessment Review, Small Claims Division. He is a Senior Residential Member of The Appraisal Institute and The New York Society uf Real Estate Appraisers. He served for eight years as.an Adjunct Instructor with Uhe Evening Division of Suffolk County Community College, Selden, New York. © O EDUCATION~L BACKGROUND 1972 University of virqinia, Ch~rlottesville, virginia - Real Estate Appraisal-Course No. 1, American Institute of Real Estate Appraisers. 1972 P01ytechnical Institute of Brooklyn, Farmingda!e, New York - Principals of Income Property Appraising, Society of Real Estate Appraisers. .... 1972 Adelphi University, Garden· City, New York - Studies in Real Estate Appraising Courses No.. 1 and 2, Columbia Society of Real Estate Appraisers. 1970 Suffolk County Community Co!leqe, Selden, New York A.A.S. Degree in Business AdmiD_istration - Real Estate, Banking and Insurance. 1969 Hofstra University, Hempst~ad, New York - Princi- pals and Techniques of Residential Appraising, Society of Real Estate Appraisers. 197%/76 American Institute of Bankina - The American Institute of Banking - Standard Certificate. 1968 to Present - Society.of Real Estate Appraisers, New York State Society of Real Estate Appraisers and Columbia Society of Real Estate Appraisers - Various seminars and workshops. ADDITIONAL DATA Society of Keel Estate Appraisers - Served on Board of Directors and various committees. © © ADDITIONAL DATA (C'ond) As of the~da~e, of. this-report, He has completed the continuing"~du~'~ioh 'r~quirements in accordance wit the by- laws'of the ApPraisal. Ihstitute. Ne~¢ York State Certified General Real Estate Appraiser License