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HomeMy WebLinkAbout1967-07-12 Legal Documents DEF SUB . ........................... .. � 7 =ewl la Anon WOO"m May ................ .............. _........... . E , t - - L --- - - F - rt m" 9r`v 1 ?w r e ........ .............................._._............. RELEASE OF COVENANT RUNNING W I TH THE LAND The PLANNING BOARD of the TO`N OF NORTH ANDOVER, Essex County, Massachusetts, by its Chairman, William Cheou 1 i s, Jr., thereunto duly authorized, hereby "releases' SHERPOOD HOMES, INC., and its developer, 1,21. & S. BUILDING & CONSTRUCTION CO., INC., of said North Andover, from. their 'Covenant Running with the Land" dated Aptember 19, 1967 and recorded at the Registry of Deeds for the Northern Registry District of said County in Book 1092, Page 342 , as to all Lots as shown on the Plan referred to in said Covenant. PLANNING BEARD, TORN OF NORTH ANDOVER By Chairman CO1V ',ON1i!EALTH OF Y1,ASSACHUSETTS Essex, ss. d , lcsg Then Personally appeared William Chepulis, Jr., Chairman and acknowledged the foregoing instrument as and to be the free act and deed of the Planning Board of the Town of North Andover, before rye, Notary Public Essex,ss. Recorded Aug. 12, 1968 at 25m past 9A.M. #357 SUBDIVISION BOND, DEPOSIT ZOD ZSSIGNMENT KY ZST A TES N CRTH AnDOS., VISSACHUSETTS ?D O-W ALL _ , � BY THESE PRESENTS, that : ERAS, persuant to the go ea"'ra i nS provisions of law, S$13erwood. ' Homes, Inc. gave to the Planning Board of North Andover, Essex County, Massachusetts, by an instrument recorded at the Registry of Deeds for the Northern Registry District of said County its Book 1092, Page 342, its "covenant running with the land" to assure said Town of its compliance with said Board's rules and regulations governing the construction of ways and the installation '' o f utilities to service the lots within the tract of land shown on Plan No. 5730, also recorded at said Registry, and WHEREAS, Sherwood Homes, Inc. (hereinafter called the Corporation) , the present owner of the area shown on said plan, and its de=de?tper, T & S Building & Construct= on Co. , Inc . , now desires to avail itself of the option accorded to it by GL. C. 41, s. 81 U, of otherwise providing such assurances as to the installation of such sere c es to 7 numbered Lots shown on said Flan, 70W, THEREFORE, in consideration of the "Release" by said Plannigg Board of certain of the conditions of said Covenant, which is to be recorded. herewith, The Corporation, by its Treasurer, John J. Shields, as Principal, and M & S Building & Construction Co. , inc. , all of said i' Ncrth Andover, individually and Jointly and severally, as SURETIES, hereby ARE AND STIFD IRNZY BOU YD unto said Town of North indove-r in the full and just sum of 'IWENTYw'_ER HUNDRED dollars C52,400. 00) , all as follows: THE CONDITI0N OF TEE FOREGOING OBLIGNTION is that if the Principal, in or within one year from the date hereof, shall faithfully and fully comply with all such rules, regulations and requirements of said Planning Board, including any conditions which nay have been specifically imposed by it, relative to the construction of ways and, the installation of municipal services within said tract to service all the lots as shown on said Plan, then this obligation shall be null and void BUT OTHERWISE THE SAME SHALL BE AND REMAIN IN FULL FORCE AND EFFECT, !ND fi!Y BE ENFORCED BY SAID PLANNING BOLD FOR THE BETE IT OF SAID TOWN OF NORTH iND OVER, all as provided by the governing provisions of lair. AND WHEREAS, the Corporation has delivered to said Planning Board a certain book evidencing a savings account, standing in the name of John, J. Shields, who also joins in this agreement , in the Commercial Bank and Trust Company, Wilmington, Massachusetts, said` Savings account indicated in Book #74, in an amount of $2,400. 00, r deposited therein on date of June 28, 1968, as a deposit further to assure its compliance with the conditions of its foregoing Bond, NOW, THEREFORF, the Corporation hereby assigns and sets over, and _? John J. Shields as Individual assigns and sets over to the Town of North Andover all its rights, title and interest in and to said account, and authorizes said Planning Board to make with- drawals, from time to time, applying the sane for the benefit of said Town under the provisions of said s. 81U. ` 'his ±GREMMYT for the subdivision bond., deposit and assignment supersedes and cancels any prior agreements concerning the same ;revicusly entered into by the parties hereto. aXECUTED TO TzM EFFZC"T M AS INSTRUMEUT UTDZR SEIL, V s X ®tay of July. 1968. Sherwood Bores, Inc. IV by /J©ham .r` Shields, Treasur r PRINCIPALS : M&S Building & Construction Co. , Inc ^ johnij.1 Shields, TreasurW> OIL chn s Indi va.dual e d