[AsburyPark] Re: Keady Blog
You're exactly right Allen, particularly if the escrow agent is an attorney (which is the best way to go because his license is at stake if he screws up by even a nickel). The escrow agent can't choose sides. He can't release any money unless both sides authorize it. If they don't agree, a judge has to make the call. Either party or the escrow agent can file the suit. I think it is a non-issue. --- In AsburyPark@yahoogroups.com, Allan Peterson <[EMAIL PROTECTED]> wrote: > > Can someone explain to me what the issue is for: > Selection of escrow agent at sole discretion of developer > etc. > > I know we have a lawyer on the board so maybe he could help. It is my understand that when money is in escrow you still have to have a judge release it? It is not like Partners do something wrong and the city can take the money right? So if that is the case who care what attorney or bank holds the money? I would think that since it is Asbury Partners responsibility then they has also have the costs involved saving the city money. > > > > > dfsavgny <[EMAIL PROTECTED]> wrote: > --- In AsburyPark@yahoogroups.com, "bluebishop82" > wrote: > > > > Here is what the Councilman said of the new agreement: > > > > "Am I satisfied with this agreement? Yes." > > > > I know he has many fans on this board. What say you about this? > > > I just read it too and I sent Jim an email respectfully disagreeing > with him and pointed out in detail why. I have already outlined the > same details here so I will spare the group, but in brief, > > No financial guarantees for total restoration > Litigation escape clause still in Force Majeure > Gave up right to declare Default on the issues in supplemental agreement > No specific financial penalties for not meeting total restoration > deadlines > Too little money held in escrow > Selection of escrow agent at sole discretion of developer > etc. > > > > > > > - > YAHOO! GROUPS LINKS > > > Visit your group "AsburyPark" on the web. > > To unsubscribe from this group, send an email to: > [EMAIL PROTECTED] > > Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service. > > > - > > > > > > - > Love cheap thrills? Enjoy PC-to-Phone calls to 30+ countries for just 2¢/min with Yahoo! Messenger with Voice. > Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
[AsburyPark] Re: Keady Blog
--- In AsburyPark@yahoogroups.com, Allan Peterson <[EMAIL PROTECTED]> wrote: > > Can someone explain to me what the issue is for: > Selection of escrow agent at sole discretion of developer > etc. > > I know we have a lawyer on the board so maybe he could help. It is my understand that when money is in escrow you still have to have a judge release it? It is not like Partners do something wrong and the city can take the money right? So if that is the case who care what attorney or bank holds the money? I would think that since it is Asbury Partners responsibility then they has also have the costs involved saving the city money. > I don't think a judge is involved since it is all subject to arbitration, although the condemnation award can be confirmed in court which is a formality. The selection of the escrow agent is not such a big issue, but when you are looking at what you don't like, you say it all, big and small. If it is no big deal, then why, I assume, did Partners negotiate for it to have the right to select the agent? Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/AsburyPark/ <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
Re: [AsburyPark] Save The Baronet Project
Posting endless messages how Asbury was or complaining how the city signed everything away is not going to help the future. Yes memories are great and we can hope that people will learn from mistakes. But enough bitching and wake up and realize a new agreement will not be created and signed by both parties. Here is an issue where people can come together and make a difference. This is where an effort could make a difference. I am willing to help out for this cause in anyway possible and I will leave work early to attend the meeting.traderdube <[EMAIL PROTECTED]> wrote: A concerned group of people are doing all they can to save the historic Baronet Theater in Asbury Park. It is important that as many people as possible show up at *_Asbury Park's City Hall this Wednesday evening at 6PM and speak out against the further destruction of Asbury's glorious historic past. _* ** *_BACKGROUND INFORMATION:_* Opened in 1913 as a vaudeville house, the Baronet was originally calledthe Ocean Theatre. In the 1960s, it enjoyed a reputation as the towns art film house, but by the 70's the Baronet was showing films of a somewhat shadier nature. By the end of the decade, it was pretty much out of business. It was bought and renovated in 1953 by the Walter Reade theater chain. . In 1986 Walter Burns and Maurice Giberson bought The Baronet and lovingly restored it to it's art deco glory. However, The City of Asbury Park would not issue them a Certificate of Occupancy and they finally sold it to Pat Fasano. Pat Fasano is known for having restored buildings in Ocean Grove and much of Cookman Avenue. Pat is a construction guy who specializes in restoration and rehabilitation of historic buildings and that is what he is doing at The Baronet. _*THE OPPOSITION:*_ Sadly, the spectra of Eminent Domain is hovering over the theater. Asbury Partners, upon learning of Pat's acquisition, immediately set the wheels of condemnation upon not only The Baronet, but the Fast Lane and the Wonder Bar. Larry Fishman is on record as stating that the 3 buildings on 4th Avenue be knocked down, paving the way for condominiums. This sadly includes the Bowling Alley. _*WE NEED YOUR HELP...*_ We all need to show up at the meeting on *Wednesday, April 19, 6:00pm* and during the public portion of the meeting where every citizens gets 3 minutes at the microphone, we can urge the Mayor and Council to vote against condemning Asbury's treasures and let us open the Baronet as a community theater that will positively impact every person and every business in Asbury Park. In every community across the country, urban renewal success stories have been built around the revitalization of theaters as communities rally to save these historic treasures. The Baronet restoration is almost complete with new fire doors, roof and fresh paint all around. There will be a new screen, new projectors, a new ticket booth and new carpeting installed in the coming weeks and the Baronet will be ready to open in early May. The Save The Baronet Project is in full swing and we need the support of every concerned citizen to come to the Wednesday night meeting and voice their concern over the sterilization of waterfront. For more information or for a tour of the Baronet, please call Dennis Dubrow at 732-996-6843. Blab-away for as little as 1¢/min. Make PC-to-Phone Calls using Yahoo! Messenger with Voice. YAHOO! GROUPS LINKS Visit your group "AsburyPark" on the web. To unsubscribe from this group, send an email to: [EMAIL PROTECTED] Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Re: [AsburyPark] Re: Keady Blog
Can someone explain to me what the issue is for: Selection of escrow agent at sole discretion of developeretc. I know we have a lawyer on the board so maybe he could help. It is my understand that when money is in escrow you still have to have a judge release it? It is not like Partners do something wrong and the city can take the money right? So if that is the case who care what attorney or bank holds the money? I would think that since it is Asbury Partners responsibility then they has also have the costs involved saving the city money. dfsavgny <[EMAIL PROTECTED]> wrote: --- In AsburyPark@yahoogroups.com, "bluebishop82" <[EMAIL PROTECTED]> wrote:>> Here is what the Councilman said of the new agreement:> > "Am I satisfied with this agreement? Yes."> > I know he has many fans on this board. What say you about this?>I just read it too and I sent Jim an email respectfully disagreeing with him and pointed out in detail why. I have already outlined the same details here so I will spare the group, but in brief,No financial guarantees for total restorationLitigation escape clause still in Force MajeureGave up right to declare Default on the issues in supplemental agreementNo specific financial penalties for not meeting total restoration deadlinesToo little money held in escrowSelection of escrow agent at sole discretion of developeretc. Love cheap thrills? Enjoy PC-to-Phone calls to 30+ countries for just 2¢/min with Yahoo! Messenger with Voice. SPONSORED LINKS Asbury park home Asbury park nj Asbury park hotel Asbury park foreclosure Asbury park real estate Asbury park YAHOO! GROUPS LINKS Visit your group "AsburyPark" on the web. To unsubscribe from this group, send an email to: [EMAIL PROTECTED] Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
