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HomeMy WebLinkAboutBy-law 2948/88THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 2948 /gg Being a by-law to authorize the execution of a Development Agreement between Walnut Grove Plaza Inc. and The Corporation of the Town of Pickering, respecting the development of Part Lot 24, Concession 1, Pickering (Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862; A 26i87, S26i88). WHEREAS, as a condition of the approval pursuant to section 34 of the Planning Act, 1983, S.O. 1983, chapter 1, of Rezoning Application A26187 by the Town, the Owner of that part of Lot 24, Concession 1, Pickering, being Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862 is required to enter into an appropriate Development Agreement with the Town; WHEREAS, pursuant to the provisions of the predecessor of section 40 of that Act, the Council of The Corporation of the Town of Pickering enacted By-law 1079/80 on January 21, 1980, designating the whole of the area of the Town of Pickering as a site plan control area; NOW THEREFORE, the Council of The Corporation of the Town of Pickering HEREBY ENACTS AS FOLLOWS: 1. The Mayor and Clerk are hereby authorized to execute a Development Agree- ment in the form attached hereto as Schedule A, respecting the development of that part of Lot 20, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862; (Walnut Grove Piaza Inc.; A 26/87; S 26/88). BY-LAW read a first, second and third time and finally passed this 17th day of October, 1988. /J n �:. Ande�f son, May� / �" � �--�__ ruce Tay or er TOWN OF PlCKERING �I APPROVED AS TO FO M '� � I LEGAL DEF . THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 2948 /gg Being a by-law to authorize the execution of a Development Agreement between Walnut Grove Plaza Inc. and The Corporation of the Town of Pickering, respecting the development of Part Lot 24, Concession 1, Pickering (Part 1, Plan 40R-1�821 and Parts 2 and 3, Plan 40R-6862; A 26/87, S26/88). WHEREAS, as a condition of the approval pursuant to section 34 of the Planning Act, 1983, S.O. 1983, chapter 1, of Rezoning Application A26/87 by the Town, the Owner of that part of Lot 24, Concession 1, Pickering, being Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862 is required to enter into an appropriate Development Agreement with the Town; WHEREA5, pursuant to the provisions of the predecessor of section 40 of that Act, the Council of The Corporation of the Town of Pickering enacted By-law 1079/80 on January 21, 1980, designating the whole of the area of the Town of Pickering as a site plan control area; NOW THEREFORE, the Council of The Corporation of the Town of Pickering HEAEBY ENAGTS AS FOLLOWS: 1. The Mayor and Clerk are hereby authorized to execute a Development Agree- ment in the form attached hereto as Schedule A, respecting the development of that part of Lot 20, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan AOR-6862; (Walnut Grove Plaza Inc.; A 26/87; S 26/88). I BY-LAW read a first, second and third time and finally passed this 17th day of October, 1988. /,�pnn a, e+nuersun, mayor / ruce Tay o� er L_� ITOWN OF , PICKERING APPROUED AS TO FO M IEGP.L DEP . THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 2948 /88 Being a by-law to authorize the execution of a Development Agreement between Walnut Grove Plaza Inc. and The Corporation of the Town of Pickering, respecting the development of Part Lot 24, Concession 1, Pickering (Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862; A 26/87, S26/88). WHEREAS, as a condition of the approval pursuant to section 34 of the Planning Act, 1983, S.O. 1983, chapter 1, of Rezoning Application A26/87 by the Town, the Owner of that part of Lot 24, Concession 1, Pickering, being Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862 is required to enter into an appropriate Development Agreement with the Town; WHEREAS, pursuant to the provisions of the predecessor of section 40 of that Act, the Council of The Corporation of the Town of Pickering enacted By-law 1079/80 on January 21, 1980, designating the whole of the area of the Town of Pickering as a site plan control area; NOW THEREFORE, the Council of The Corporation of the Town of Pickering HEREBY ENACTS AS FOLLOWS: 1, The Mayor and Clerk are hereby authorized to execute a Development Agree- ment in the form attached hereto as Schedule A, respecting the development of that part of Lot 20, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862; (Walnut Grove Plaza Inc.; A 26/87; S 26/88). BY-LAW read a first, second and third time and finally passed this 17th day of October, 1988. /,�pnn r.. Hnaerson,� / ��`� �--.__ Bruce Taylor Clerk TOWN OF PICKERING APPROVED ,S TO f.OR� LEGP.L DE THIS AGREEMENT made this 17th day of October, 1988. B E T W E E N: WALNUT GROVE PLAZA INC. hereinafter called the "Owner" OF THE FIRST PART, -and - THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF THE SECOND PART. WHEREAS the Owner proposes to develop those parts of Lot 24, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862, in order that a commercia] building or buildings may be constructed thereon in accordance with the Town's By-law 3036, as amended, inter alia, by By-law 2836/88; and WHEREAS pursuant to the provisions of the predecessor of section 40 of the Planning Act, 1983, S.O. 1983, chapter 1, the Council of The Corporation of the Town of Pickering enacted By-law 1079/80 on January 21st, 1980, designated the whole of the area of the Town of Pickering as a site plan control area; NOW THEREFORE, THIS AGREEMENT WITNESSETH, that in consideration of the Town approving the proposed development, and the covenants hereinafter expressed, the Parties hereto covenant and agree one with the other as follows: 1. LAND AFFECTED The lands affected by this Agreement (the Concession 1, Pickering, designated as Part 3, Plan 40R-6862. � 2. NOTICE 3 4 � "Lands") are those parts of Lot 24, 1, Plan 40R-10821 and Parts 2 and Any notice required to be given hereunder may be given by registered mail addressed to the other Party at its principal place of business and shall be effective as of the secontl day immediately following the date of the deposit thereof in the Post Office. INTERPRETATION Whenever in this Agreement the word "Owner" or the pronoun "it" is used, the word or pronoun shall be read and construed as "Owner or Owners" or "it", "his", "her" or "them", respectively, and the number of the verb agreeing therewith shall be construed accordingly. TIME Time shall be of the essence of this Agreement. 5 � BINDING PARTIES This Agreement and everything herein contained shall enure to the benefit of and be binding upon the Owner and the Town and their respective heirs, executors, administrators, successors and assigns. OWNER'S GENERAL UNDERTAKING The Owner shall complete at its own expense and in a good workmanlike man- ner, for the Town, all the municipal services as hereinafter set forth to the satisfaction of the Town of Pickering, and shall complete, perform or make payment for such other matters as may be provided for herein. 7. CONSULTING ENGINEERS 0 Q 10 (1) The Owner shall retain a Professional Engineer as the Consulting Engineer of the Owner to carry out all the necessary engineering and to supervise generally the work required to be done for the development of the project. (2) Such Consulting Engineer, or any retained until the work provided formally accepted by the Town. ADJACENT SERVICES successor thereto, shall continue to be for in this Agreement is compieted and (1) The Owner shall construct, on road allowance and other lands where appropriate, the following municipal or other public works and services: (a) (b} (c) (d) (e) (f) �g) storm water drainage and management system; curbs and gutters; sidewalk; driveway entrance; road improvements and widenings; boulevard grading and sodding; and street lighting improvements. (2) All works and services required to be constructed by subsection (1) shall be constructed in accordance with the specifications of the Town, the Ministry of Transportation of Ontario, or Pickering Hydro, as the case may be, in conformity with the Agreement and the following plans and drawings: Dwg. No (a) SP-1 (b) A-1 Dwg. Title Site Servicing Plan Site Plan Last Revised October 12, 1988 October 12, 1988 drawing SP-1 having been prepared by Prosum Engineering Ltd. (88A137) and drawing A-1 having been prepared by Stone, Kohn, Mc(Zuire, Vogt, Architects (project 88A137). ELECTRICAL SERVICES Where electricity, cable television service or telephone service is to be provided to the Lands, it shall be provided underground and in accordance with the standards and specifications of Pickering Hydro-Electric Commission, Pickering Cable T. V. Limited or Bell Canada, as the case may be. INSPECTIONS (1) All works required to be constructed, reconstructed or repaired by the Owner, except those referred to in section 9, shall be installed under the observation of Inspectors employed by the Town and the Owner shall pay the costs incurred therefor within 30 days of invoices being rendered. . Z 11. 12 (2) The costs referred to in subsection (1) may include, but not necessarily be limited to, salaries and wages of Inspectors, testing fees and adminis- tration fees. LIABILITY INSURANCE (1) Before commencing any of the work provided for herein, the Owner shall supply the Town with a Liability Insurance Policy in form satisfactory to the Town, naming the Town as an insured and indemnifying the Town from any loss arising from claims for damages, injury or otherwise in connection with the work done by or on behalf of the Owner on the Lands and elsewhere. (2) The amount of the Policy shall be $5,000,000. (3) In the event any renewal premium is not paid, the Town, in order to prevent the lapse of the Liability Insurance Policy, may pay the renewal premium or premiums and the Owner shall pay the cost of such renewal or renewals within 30 days of the account therefor being rendered by the Town. (4) The Owner shall notify the Town of the dates for the payment of the premium for the renewal of the policy and shall supply proof that the premium has been paid in order that the protection provided by the Liability Insurance Policy shall not lapse. PERFORMANCE & MAINTENANCE GUARANTEE (1) Prior to the registration of this Agreement, the Owner shall supply the Town with an 80$ performance and maintenance security in a form satisfactory to the Town and in an amount established by the Director of Public Works (the "original value") for the purpose of, (a) (b) (c) guaranteeing the satisfactory construction, installation or perfor- mance of the works and services referred to in section 8; guaranteeing the payment of any amounts payable to the Town under section 10; guaranteeing the payment of any amount that the Town may be required to pay under the provisions of the Construction Lien Act, 1983, and (d) guaranteeing all works, services, workmanship and materials for a period of 2 years from the date that the works and services are completed and such completion acknowledged, in writing, by the Town. (2) The Owner may, at any time after the first 50$, in value, of works have been constructed, installed or performed, and paid for, apply for a reduction in the security and such application shall be made to the Town Treasurer. (3) Upon written verification from the Director of Public Works that the construction, installation or performance of the works for which reduction is being sought have been satisfactorily completed and paid for, the Town Manager may reduce the amount of the security to an amount not less than, (a) (b) sixty per cent (60$) of the original value where no certificate or declaration of substantial performance has been made; thirty-five per cent (35$) of the original value where, (i) (ii) a certificate or declaration of substantial performance has been published; 45 days following such publication have expired; and � 3 iiii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; and (c) seventeen per cent (17$) of the original value where, (i) a certificate of final completion has been made by the Owner's Consulting Engineer; (ii) 45 days following the making of such certificate have expired; and (iii) all liens that may be ciaimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; which seventeen per cent (170) portion shalI secure the guarantee of works, workmanship and materials, until the obligation to guarantee has expired, when the balance of the security shall be returned to the Owner subject to any deductions for rectification of deficiencies. (4) Upon the approval, if any, of a reduction in the amount of the security the Town Manager or the Town Treasurer shall provide to the Owner any necessary assurance to effect the reduction. (5) Should the security expire during the term of this Agreement, the Owner shall provide to the Town at least 30 days in advance of the expiry date of that security, a further security to take effect upon the expiry, which further security shall be to the satisfaction of the Town. (6) Should no further security be provided as required, then the Town shall have the right to convert the expiring security into cash and hold the cash in lieu of and for the same purposes as the further security. 13. INCOMPLETED OR FAULTY WORK (1) If, in the opinion of the Director of Public Works, the Owner is not prosecuting or causing to be prosecuted the work in connection with this Agreement within the specified time, or in order that it may be completed within the specified time, or is improperly performing the work, or shall the Owner neglect or abandon it before the completion, or unreasonably delay the same so that the conditions of this Agreement are being violated or carelessly executed, or in bad faith, or shall the Owner neglect or refuse to renew or again perform such work as may be rejected by the Director of Public Works as defective or unsuitable, or shall the Owner in any other manner, in the opinion of the Director of Public Works, make default in performance of the terms of this Agreement, then in any such case, the said Director of Public Works shall promptly notify the Owner and his surety in writing of such default or neglect and if such notifica- tion be without effect within 10 clear days after such notice, then in that case, the Director of Public Works shall thereupon have full authority to purchase such materials, tools and machinery and to employ such workmen as in his opinion shall be required for the proper completion of the said work at the cost and expense of the Owner or his surety, or both. (2) In cases of emergency, in the opinion of the Director of Public Works, such work may be done without prior notice but the Owner shall be farthwith notified. (3) The cost of such work shall be calculated by the Director of Public Works whose decision shall be final. (4) It is understood and agreed that such costs shall include a management fee of twenty per cent (20$) of the labour and material value, and fur- ther, a fee of thirty per cent (30$) of the value for the dislocation and ' 4 inconvenience caused to the Town as a result of such default on the part of the Owner, it being hereby declared and agreed that the assuming by the Owner of the obligations imposed by this section is one of the consid- erations without which the Town would not have executed this Agreement. 14. GENERAL PROVISIONS - SERVICES The Owner agrees with the Town: (a) (b) (c) (d) (e) (f) �g) Continuation of Existing Services Where the construction of services herein involves a continuation to existing services. to join into the same, including adjustment of grades where necessary, in a good and workmanlike manner. Public Lands - Fill & Debris (i) Neither to dump nor to permit to be dumped, any fill or debris on, nor to remove or permit to be removed, any fill from any public lands, without the written consent of the authority respon- sible for such lands. (ii) On request, to supply the Town with an acknowledgement from such authority of the Owner's compliance with the terms of sub- clause (i) . (iii) That there shall be no burning of refuse or debris upon the Lands or any public lands. Qualitative or Quantitative Tests The Director of Public Works may have qualitative or quantitative tests made of any materials which have been or are proposed to be used in the construction of any services required by this Agreement, and the cost of such tests shall be paid by the Owner within 30 days of the account being rendered by the Town. Relocation of Services To pay the cost of relocating any existing services and utilities caused by the works within 30 days of the account for same being rendered by the Town. Temporary Signs To provide and erect at its own cost, to the specifications of the Town, temporary signs of such nature and at such locations as may be designa- ted by the Director of Public Works. Engineering Drawings Prior to the acceptance of the works, to supply the Town with the origi- nal drawings of the works, with amendments, if any, noted thereon. Survey Monuments & Markers Prior to the acceptance of the works, to supply a statement by an Ontario Land Surveyor that, after the completion of the works, he has found or re-established all standard iron bars. ' S 15. CONSTRUCTION & OCCUPANCY OF BUILDINGS (1) No building permit shall be issued for any building or part of a building , on the Lands until sewer and water facilities are available, and in the opinion of the Director of Public Works, capable of providing adequate service and until this Agreement has been registered. iz) (3) No building or part of a building on the Lands shall be occupied except upon the issuance of a municipal occupancy permit. No application for a municipal occupancy permit for a building or part of a building shall be made except upon the following conditions: (i) (ii) ( iii ) Storm sewer, sanitary sewer and water facitities are installed and in operation to adequately serve such building or part thereof; Electric service is completed and in operation; A hard surface base has been laid on the road immediately in front of the building or part thereof and extended to an existing maintained public road; and (iv) Such curbs, are required structed on public road. as in the opinion of the Director of Public Works, to be completed prior to occupancy have been con- the said road and extend to an existing maintained 16. CONTRIBUTION TO PINE CREEK STORM WATER bfANAGEMENT PROJECT Prior to the registration of this Agreement, the Owner shall pay to the Town the sum of $1,148 as the Owner's contribution to the costs to the Town of the Pine Creek Storm Water Management Project which serves in part the Lands. 17. GENERAL PROVISIONS - FINANCIAL MATTERS The Owner agrees with the Town: (a) (b) (c) (d) Taxes To pay the taxes in full on the Lands as required by law from time to time . Interest To pay interest at the rate of eighteen per cent (18$) per annum to the Town on all sums of money payable herein which are not paid on the due dates calculated from such due dates. Registration Fees To pay all registration costs incurred by the Town relating in any way to the registration of the plan of condominium or any other related documen- tation, including transfers, in the Land Titles Office. or Other Claims Upon applying for final acceptance of the works to supply the Town with a Statutory Declaration that all accounts for work and materials have been paid, except normal guarantee holdbacks, and there are no claims for liens or otherwise in connection with work done or material supplied for or on behalf of the Owner in connection herewith or if such claims do exist, the Owner shall indemnify the Town against all claims, actions or demands for liens or otherwise and all costs in connection therewith, ' 6 18. 19 SITE PLAN/DEVELOPMENT CONTROL (1) No development, including redevelopment, shall be undertaken on the Lands except in conformity with this Agreement and with the following plans and drawings (herein collectively called the "Plans" ): Dwg. No. (a) A-1 (b) A-2 (c) L.1 (d) SP-1 Dwg. Title Site Plan Elevation s Landscape Plan Site Servicing Plan Last Revision October 12, 1988 October 12, 1988 October 11, 1988 October 12, 1988 drawings A-1 and A-2 having been prepared by Stone, Kohn, McQuire, Vogt, Architects (project 88A137), drawing L.1 having been prepared by Terraplan Landscape Architects (project TL A 88-227) and drawing SP-1 having been prepared by Prosum Engineering Ltd. (project 88A137). (2) The Owner shall maintain, in conformity with the Plans, to the Town's satisfaction and at the sole risk and expense of the Owner, all of the facilities and works that are both shown on the Plans and located on the Lands, and shall ensure the timely removal of snow from access ramps, driveways, parking and loading areas, and walkways. (3) For the purpose of guaranteeing the maintenance by the Owner for two years after installation of the facilities and works required to be main- tained under subsection (2), above, the Owner shall provide to the Town, prior to the issuance of a building permit for the first dwelling unit to be erected on the Lands, a security in the form of an irrevocable letter of credit issued by a chartered bank in Canada in the amount of $15,000 which security may be drawn upon by the Town in such amounts, and at such times as the Town, in its sole discretion, deems advisable, should the Owner fail to maintain the facilities or works for that two year period to the Town's satisfaction. TIME LIMITED FOR WORK & GUARANTEE FOR WORKMANSHIP 8, MATERIALS (1) The Owner shall complete all works, services and requirements under this Agreement within eighteen months of the date of registration of this Agreement. (2) The Owner shall guarantee all works, workmanship and materials employed or used in the construction, installation or completion of all works, ser- vices and requirements under this Agreement for a period of two years from the date that the works, services and requirements are approved in writing by the Town. IN WITNESS WHEREOF, Lhe parties hereto have hereunto affixed their corporate seals, attested by the hands of their authorized officers. SIGNED, SEALED 8, DELIVERED ' WALNUT GROVE PLAZA INC. THE CORPORATION OF THE TOWN OF PICKERING Jo n , n erson, ayor Bruce ay or, er . 7 ENCUMBRANCER - ROYAL TRUST CORPORATION OF CANADA ("ROYAL TRUST") This Agreement shall have priority over and take precedence over all of Royal Trust's rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or interest is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at this day of , 1988. SIGNED, SEALED & DELIVERED ROYAL TRUST CORPORATION OF CANADA ENCUMBRANCER - WALTER FRANCIS AND JEAN YVONNE FRANCIS (Collectively "Francis") This Agreement shall have priority over and take precedence over all of Francis' rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such ri�ht or interest is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at this day of , 1988. SIGNED, SEALED & DELIVERED In the presence of a ter rancis Jean vonne Francis . 8 THIS AGREEMENT made this 17th day of October, 1988. B E T W E E N: WALNUT GROVE PLAZA INC. hereinafter called the "Owner" OF THE FIRST PART, - and - THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF THE SECOND PART. WHEREAS the Owner proposes to develop those parts of Lot 24, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862, in order that a commercial building or buildings may be constructed thereon in accordance with the Town's By-law 3036, as amended, inter alia, by By-law 2836/88; and WHEREAS pursuant to the provisions of the predecessor of section 40 of the Planning Act, 1983, S.O. 1983, chapter 1, the Council of The Corporation of the Town of Pickering enacted By-law 1079/80 on January 21st, 1980, designated the whole of the area of the Town of Pickering as a site plan control area; NOW THEREFORE, THIS AGREEMENT WITNESSETH, that in consideration of the Town approving the proposed development, and the covenants hereinafter expressed, the Parties hereto covenant and agree one with the other as follows: 1. LAND AFFECTED The lands affected by this Agreement (the "Lands") are those parts of Lot 24, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862. � 2. NOTICE 3 4 Any notice required to be given hereunder may be given by registered mail addressed to the other Party at its principal piace of business and shall be effective as of the second day immediately following the date of the deposit thereof in the Post Office. INTERPRETATION Whenever in this Agreement the word "Owner" or the pronoun "it" is used, the word or pronoun shall be read and construed as "Owner or Owners" or "it" , "his", "her" or "them", respectively, and the number of the verb agreeing therewith shall be construed accordingly. TIME Time shall be of the essence of this Agreement. 5. BINDING PARTIES This Agreement and everything herein contained shall enure to the benefit of and be binding upon the Owner and the Town and their respective heirs, executors, administrators, successors and assigns. 6. OWNER'S GENERAL UNDERTAKING 7. 0 � 10 The Owner shall complete at its own expense and in a good workmanlike man- ner, for the Town, all the municipal services as hereinafter set forth to the satisfaction of the Town of Pickering, and shall complete, perform or make payment for such other matters as may be provided for herein. CONSULTING ENGINEERS (1) The Owner shall retain a Professional Engineer as the Consulting Engineer of the Owner to carry out all the necessary engineering and to supervise generally the work required to be done for the development of the project. (2) Such Consulting Engineer, or any retained until the work provided formally accepted by the Town. ADJACENT SERVICES successor thereto, shall continue to be for in this Agreement is completed and (1) The Owner shall construct, on road allowance and other lands where appropriate, the following municipal or other public works and services: (a) (b) (c) (d) (e) (f) (g) storm water drainage and management system; curbs and gutters; sidewalk; driveway entrance; road improvements and widenings; boulevard grading and sodding; and street lighting improvements. (2) All works and services required to be constructed by subsection (1) shall be constructed in accordance with the specifications of the Town, the Ministry of Transportation of Ontario, or Pickering Hydro, as the case may be, in conformity with the Agreement and the following plans and drawings: Dwg. No (a) SP-1 (b) A-1 Dwg. Title Site Servicing Plan Site Plan Last Revised October 12, 1988 October 1Z, 1988 drawing SP-1 having been prepared by Prosum Engineering Ltd. (88A137) and drawing A-1 having been prepared by Stone, Kohn, McQuire, Vogt, Architects (project 88A137). ELECTRICAL SERVICES Where electricity, cable television service or telephone service is to be provided to the Lands, it shall be provided underground and in accordance with the standards and specifications of Pickering Hydro-Electric Commission, Pickering Cable T.V. Limited or Bell Canada, as the case may be. INSPECTIONS (1) Ali works required to be constructed, reconstructed or repaired by the Owner, except those referred to in section 9, shall be installed under the observation of Inspectors employed by the Town and the Owner shall pay the costs incurred therefor within 30 days of invoices being rendered. . Z (2) The costs referred to in subsection (1) may include, but not necessarily be limited to, salaries and wages of Tnspectors, testing fees and adminis- tration fees. 11. LIABILITY INSURANCE (1) Before commencing any of the work provided for herein, the Owner shall supply the Town with a Liability Insurance Policy in form satisfactory to the Town, naming the Town as an insured and indemnifying the Town from any loss arising from claims for damages, injury or otherwise in connection with the work done by or on behalf of the Owner on the Lands and elsewhere. (2) The amount of the Policy shall be $5,000,000. (3) In the event any renewal premium is not paid, the Town, in order to prevent the lapse of the Liability Insurance Policy, may pay the renewal premium or premiums and the Owner shall pay the cost of such renewal or renewals within 30 days of the account therefor being rendered by the Town. (4) The Owner shall notify the Town of the dates for the payment of the premium for the renewal of the policy and shall supply proof that the premium has been paid in order that the protection provided by the Liability Insurance Policy shall not lapse. 12. PERFORMANCE & MAINTENANCE GUARANTEE (1) Prior to the registration of this Agreement, the Owner shall supply the Town with an 80$ performance and maintenance security in a form satisfactory to the Town and in an amount established by the Director of Public Works (the "original value") for the purpose of, (a) (b) (c) guaranteeing the satisfactory construction, installation or perfor- mance of the works and services referred to in section 8; guaranteeing the payment of any amounts payable to the Town under section 10; guaranteeing the payment of any amount that the Town may be required to pay under the provisions of the Construction Lien Act, 1983, and (d) guaranteeing all works, services, workmanship and materials for a period of Z years from the date that the works and services are completed and such completion acknowledged, in writing, by the Town. (2) The Owner may, at any time after the first 50$, in value, of works have been constructed, installed or performed, and paid for, apply for a reduction in the security and such application shall be made to the Town Treasurer. (3) Upon written verification from the Director of Public Works that the construction, installation or performance of the works for which reduction is being sought have been satisfacto�ily completed and paid for, the Town Manager may reduce the amount of the security to an amount not less than, (a) (b) sixty per cent (60$) of the original value where no certificate or declaration of substantial performance has been made; thirty-five per cent (35$) of the original value where, (i) (ii) a certificate or declaration of substantial performance has been published; 45 days following such publication have expired; and ' 3 (iii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; an d (c) seventeen per cent (17$) of the original value where, (i) (ii) a certificate of final completion has been made by the Owner's Consulting Engineer; 45 days following the making of such certificate have expired; and (iii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; which seventeen per cent (17$) portion shal] secure the guarantee of works, workmanship and materials, unti] the obligation to guarantee has expired, when the balance of the security shall be returned to the Owner subject to any deductions for rectification of deficiencies. (4) Upon the approval, if any, of a reduction in the amount of the security the Town Manager or the Town Treasurer shall provide to the Owner any necessary assurance to effect the reduction. (5) Should the security expire during the term of this Agreement, the Owner shall provide to the Town at least 30 days in advance of the expiry date of that security, a further security to take effect upon the expiry, which further security shall be to the satisfaction of the Town. (6) Should no further security be provided as required, then the Town shall have the right to convert the expiring security into cash and hold the cash in lieu of and for the same purposes as the further security. 13. INCOMPLETED OR FAULTY WORK (1) If, in the opinion of the Director of Public Works, the Owner is not prosecuting or causing to be prosecuted the work in connection with this Agreement within the specified time, or in order that it may be completed within the specified time, or is improperly performing the work, or shall the Owner neglect or abandon it before the completion, or unreasonably delay the same so that the conditions of this Agreement are being violated or carelessly executed, or in bad faith, or shall the Owner neglect or refuse to renew or again perform such work as may be rejected by the Director of Public Works as defective or unsuitable, or shall the Owner in any other manner, in the opinion of the Director of Public Works, make default in performance of the terms of this Agreement, then in any such case, the said Director of Public Works shall promptly notify the Owner and his surety in writing of such default or neglect and if such notifica- tion be without effect within 10 clear days after such notice, then in that case, the Director of Public Works shall thereupon have full authority to purchase such materials, tools and machinery and to employ such workmen as in his opinion shall be required for the proper completion of the said work at the cost and expense of the Owner or his surety, or both. �Z) (3) In cases of emergency, in the opinion of the Director of Public Works, such work may be done without prior notice but the Owner shall be forthwith notified. The cost of such work shall be calculated by the Director of Public Works whose decision shall be final. (4) It is understood and agreed that such costs shall include a management fee of twenty per cent (20$) of the labour and material value, and fur- ther, a fee of thirty per cent (30$) of the value for the dislocation and ' 4 14, inconvenience caused to the Town as a result of such default on the part of the Owner, it being hereby declared and agreed that the assuming by the Owner of the obligations imposed by this section is one of the consid- erations without which the Town would not have executed this Agreement. GENERAL PROVISIONS - SERVICES The Owner agrees with the Town: (a) (b) (c) (d) (e) (f) (g) Continuation of Existing Services Where the construction of services herein involves a continuation to existing services, to join into the same, including adjustment of grades where necessary, in a good and workmanlike manner. Public Lands - Fill & Debris (i) Neither to dump nor to permit to be dumped, any fill or debris on, nor to remove or permit to be removed, any fill from any public lands, without the written consent of the authority respon- sible for such lands. (ii) On request, to such authority clause (i). supply the Town with an acknowledgement from of the Owner's compliance with the terms of sub- (iii) That there shall be no burning of refuse or debris upon the Lands or any public lands. Qualitative or Quantitative Tests The Director of Public Works may have qualitative or quantitative tests made of any materials which have been or are proposed to be used in the construction o£ any services required by this Agreement, and the cost of such tests shall be paid by the Owner within 30 days of the account being rendered by the Town. Relocation of 5ervices To pay the cost of relocating any existing services and utilities caused by the works within 30 days of the account for same being rendered by the Town. Temporary Signs To provide and erect at its own cost, to the specifications of the Town, temporary signs of such nature and at such locations as may be designa- ted by the Director of Public Works. Engineering Drawings Prior to the acceptance of the works, to supply the Town with the origi- nal drawings of the works, with amendments, if any, noted thereon. Survey Monuments & Markers Prior to the acceptance of the works, to supply a statement by an Ontario Land Surveyor that, after the completion of the works, he has found or re-established all standard iron bars. • 5 15 16 17 CONSTRUCTION & OCCUPANCY OF BUILDINGS (1) No building permit shall be issued for any building or part of a building on the Lands until sewer and water facilities are available, and in the opinion of the Director of Public Works, capable of providing adequate service and until this Agreement has been registered. iz) (3) No building or part of a building on the Lands shall be occupied except upon the issuance of a municipal occupancy permit. No application for a municipal occupancy permit for a building or part of a building shall be made except upon the following conditions: (i) (ii) ( iii ) Storm sewer, sanitary sewer and water facilities are installed and in operation to adequately serve such building or part thereof; Electric service is completed and in operation; A hard surface base has been laid on the road immediately in front of the building or part thereof and extended to an existing maintained public road; and (iv) Such curbs, are required structed on public road. as in the opinion of the Director of Public Works, to be completed prior to occupancy have been con- the said road and extend to an existing maintained CONTRIBUTION TO PINE CREEK STORM WATER �9ANAGEMENT PROJECT Prior to the registration of this Agreement, the Owner shall pay to the Town the sum of $1,148 as the Owner's contribution to the costs to the Town of the Pine Creek Storm Water Management Project which serves in part the Lands. GENERAL PROVISIONS - FINANCIAL MATTERS The Owner agrees with the Town: (a) (b) (c) (d) Taxes To pay the taxes in full on the Lands as required by law from time to time . Interest To pay interest at the rate of eighteen per cent (18$) per annum to the Town on all sums of money payable herein which are not paid on the due dates calculated from such due dates. Registration Fees To pay all registration costs incurred by the Town relating in any way to the registration of the plan of condominium or any other related documen- tation, including transfers, in the Land Titles Office. Lien or Other Claims Upon applying for final acceptance of the works to supply the Town with a Statutory Declaration that all accounts for work and materials have been paid, except normal guarantee holdbacks, and there are no claims for liens or otherwise in connection with work done or material supplied for or on behalf of the Owner in connection herewith or if such claims do exist, the Owner shall indemnify the Town against all claims, actions or demands for liens or otherwise and all costs in connection therewith. ' 6 18. SITE PLAN�DEVELOPMENT CONTROL (1) No development, including redevelopment, shall be undertaken on the Lands except in conformity with this Agreement and with the following plans and drawings (herein collectively called the "Plans"): Dwg. No. (a) A-1 (b) A-2 (c) L.1 (d) SP-1 Dwg. Title Site Plan Elevation s Landscape Plan Site Servicing Plan Last Revision October 12, 1988 October 12. 1988 October 11, 1988 October 12, 1988 drawings A-1 and A-2 having been prepared by Stone, Kohn, McQuire, Vogt, Architects (project 88A137), drawing L,1 having been prepared by Terraplan Landscape Architects (project TLA 88-227) and drawing SP-1 having been prepared by Prosum Engineering Ltd. (project 88A137). (2) The Owner shall maintain, in conformity with the Plans, to the Town's satisfaction and at the sole risk and expense of the Owner, all of the facilities and works that are both shown on the Plans and located on the Lands, and shall ensure the timely removal of snow from access ramps, driveways, parking and loading areas, and walkways. (3) For the purpose of guaranteeing the maintenance by the Owner for two years after installation of the facilities and works required to be main- tained under subsection (2), above, the Owner shall provide to the Town, prior to the issuance of a building permit for the first dwelling unit to be erected on the Lands. a security in the form of an irrevocable letter of credit issued by a chartered bank in Canada in the amount of $15,000 which security may be drawn upon by the Town in such amounts, and at such times as the Town, in its sole discretion, deems advisable, should the Owner fail to maintain the facilities or works for that two year period to the Town's satisfaction. 19. TIME LIMITED FOR WORK & GUARANTEE FOR WORKMANSHIP & MATERIALS (1) The Owner shall complete all works, services and requirements under this Agreement within eighteen months of the date of registration of this Agreement. (2) The Owner shall guarantee all works, workmanship and materials employed or used in the construction, installation or completion of all works, ser- vices and requirements under this Agreement for a period of two years from the date that the works, services and requirements are approved in writing by the Town. IN WITNESS WHEREOF, the parties hereto have hereunto affixed their corporate seals, attested by the hands of their authorized officers. SIGNED, SEALED & DELIVERED WALNUT GROVE PLAZA INC. THE CORPORATION OF THE TOWN OF PICKERING Jo n . n erson, ayor Bruce ay or, ler . 7 ENCUMBRANCER - ROYAL TRUST CORPORATION OF CANADA ("ROYAL TRUST") This Agreement shall have priority over and take precedence over all of Royal Trust's rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or interest is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at this day of , 1988. SIGNED, SEALED & DELIVERED ROYAL TRUST CORPORATION OF CANADA ENCUMBRANCER - WALTER FRANCIS AND JEAN YVONNE FRANCIS ( Collectively "Francis" ) This Agreement shall have priority over and take precedence over all of Francis' rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or interest is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at this day of , 1988. SIGNED, SEALED 8, DELIVERED In the presence of Wa ter rancis Jean vonne rancis [3 THIS AGREEMENT made this 17th day of October, 1988. B E T W E E N: WALNUT GROVE PLAZA INC. hereinafter called the "Owner" OF THE FIRST PART, -and - THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF THE SECOND PART. WHEREAS the Owner proposes to develop those parts of Lot 24, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862, in order that a commercial building or buildings may be constructed thereon in accordance with the Town's By-law 3036, as amended, inter alia, by By-law 2836/88; and WHEREAS pursuant to the provisions of the predecessor of section 40 of the Planning Act, 1983, S.O. 1983, chapter 1, the Council of The Corporation of the Town of Pickering enacted By-law 1079/80 on January 21st. 1980, designated the whole of the area of the Town of Pickering as a site plan control area; NOW THEREFORE, THIS AGREEMENT WITNESSETH, that in consideration of the Town approving the proposed development, and the covenants hereinafter expressed, the Parties hereto covenant and agree one with the other as follows: 1. LAND AFFECTED The lands affected by this Agreement (the "Lands") are those parts of Lot 24, Concession 1, Pickering, designated as Part 1, Plan 40R-10821 and Parts 2 and 3, Plan 40R-6862. � 2. NOTICE Any notice required to be given hereunder may be given by registered mail addressed to the other Party at its principal place of business and shall be effective as of the secon'd day immediately following the date of the deposit thereof in the Post Office. 3. INTERPRETATION Whenever in this Agreement the word "Owner" or the pronoun "it" is used, the word or pronoun shall be read and construed as "Owner or Owners" or "it", "his", "her" or "them", respectively, and the number of the verb agreeing therewith shall be construed accordingly. 4. TIME Time shall be of the essence of this Agreement. 5. BINDING PARTIES This Agreement and everything herein contained shall enure to the benefit of and be binding upon the Owner and the Town and their respective heirs, executors, administrators, successors and assigns. 6. OWNER'S GENERAL UNDERTAKING 7. F3� � 10 The Owner shall complete at its own expense and in a good workmanlike man- ner, for the Town, all the municipal services as hereinafter set forth to the satisfaction of the Town of Pickering, and shall complete, perform or make payment for such other matters as may be provided for herein. CONSULTING ENGINEERS (1) The Owner shall retain a Professional Engineer as the Consulting Engineer of the Owner to carry out all the necessary engineering and to supervise generally the work required to be done for the development of the project. (2) Such Consulting Engineer, or any retained until the work provided formally accepted by the Town. ADJACENT SERVICES successor thereto, shall continue to be for in this Agreement is completed and (1) The Owner shall construct, on road allowance and other lands where appropriate, the following municipal or other public works and services: (a) (b) (c) (d) (e) (f) �B) storm water drainage and management system; curbs and gutters; sidewalk; driveway entrance; road improvements and widenings; boulevard grading and sodding; and street lighting improvements. (2) All works and services required to be constructed by subsection (1) shall be constructed in accordance with the specifications of the Town, the Ministry of Transportation of Ontario, or Pickering Hydro, as the case may be, in conformity with the Agreement and the following plans and drawings: Dwg. No (a) SP-1 (b) A-1 Dwg. Title Site Servicing Plan Site Plan Last Revised October 12, 1988 October 12, 1988 drawing SP-1 having been prepared by Prosum Engineering Ltd. (88A137) and drawing A-1 having been prepared by Stone, Kohn, McQuire, Vogt, Architects (project 88A137). ELECTRICAL SERVICES Where electricity, cable television service or telephone service is to be provided to the Lands, it shall be provided underground and in accordance with the standards and specifications of Pickering Hydro-Electric Commission, Pickering Cable T.V. Limited or Bell Canada, as the case may be. INSPECTIONS (1) All works required to be constructed, reconstructed or repaired by the Owner, except those referred to in section 9, shall be installed under the observation of Inspectors employed by the Town and the Owner shall pay the costs incurred therefor within 30 days of invoices being rendered. 2 11. 12 (2) The costs referred to in subsection (1) may include, but not necessarily be limited to, salaries and wages of Inspectors, testing fees and adminis- tration fees. LIABILITY INSURANCE (1) Before commencing any of the work provided for herein, the Owner shall supply the Town with a Liability Insurance Policy in form satisfactory to the Town, naming the Town as an insured and indemnifying the Town from any loss arising from claims for damages, injury or otherwise in connection with the work done by or on behalf of the Owner on the Lands and elsewhere. (2) The amount of the Policy shall be $5,000,000. (3) In the event any renewal premium is not paid, the Town, in order to prevent the lapse of the Liability Insurance Policy, may pay the renewal premium or premiums and the Owner shall pay the cost of such renewal or renewals within 30 days of the account therefor being rendered by the Town. (4) The Owner shall notify the Town of the dates for the payment of the premium for the renewal of the policy and shall supply proof that the premium has been paid in order that the protection provided by the Liability Insurance Policy shall not lapse. PERFORMANCE & MAINTENANCE GUARANTEE (1) Prior to the registration of this Agreement, the Owner shall supply the Town with an 80$ performance and maintenance security in a form satisfactory to the Town and in an amount established by the Director of Public Works (the "original value") for the purpose of, (a) (b) (c) guaranteeing the satisfactory construction, installation or perfor- mance of the works and services referred to in section 8; guaranteeing the payment of any amounts payable to the Town under section 10; guaranteeing the payment of any amount that the Town may be required to pay under the provisions of the Construction Lien Act, 1983, and (d) guaranteeing all works, services, workmanship and materials for a period of 2 years from the date that the works and services are completed and such completion acknowledged, in writing, by the Town. (2) The Owner may, at any time after the first 50$, in value, of works have been constructed, installed or performed, and paid for, apply for a reduction in the security and such application shall be made to the Town Treasurer. (3) Upon written verification from the Director of Public Works that the construction, installation or performance of the works for which reduction is being sought have been satisfactorily completed and paid for, the Town Manager may reduce the amount of the security to an amount not less than, (a) (b) sixty per cent (60$) of the original value where no certificate or declaration of substantial performance has been made; thirty-five per cent (35$) of the original value w here, (i) (ii) a certificate or declaration of substantial performance has been published; 45 days following such publication have expired; and • 3 13 (iii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; and (c) seventeen per cent (17$) of the original value where, (i) (ii) a certificate of final completion has been made by the Owner's Consulting Engineer; 45 days following the making of such certificate have expired; and (iii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; which seventeen per cent (17$) portion shall secure the guarantee of works, workmanship and materials, until the obligation to guarantee has expired, when the balance of the security shall be returned to the Owner subject to any deductions for rectification of deficiencies. (4) Upon the approval, if any, of a reduction in the amount of the security the Town Manager or the Town Treasurer shall provide to the Owner any necessary assurance to effect the reduction. (5) Should the security expire during the term of this Agreement, the Owner shall provide to the Town at least 30 days in advance of the expiry date of that security, a further security to take effect upon the expiry, which further security shall be to the satisfaction of the Town. (6) Should no further security be provided as required, then the Town shall have the right to convert the expiring security into cash and hold the cash in lieu of and for the same purposes as the further security. INCOMPLETED OR FAULTY WORK (1) If, in the opinion of the Director of Public Works, the Owner is not prosecuting or causing to be prosecuted the work in connection with this Agreement within the specified time, or in order that it may be completed within the specified time, or is improperly performing the work, or shall the Owner neglect or abandon it before the completion, or unreasonably delay the same so that the conditions of this Agreement are being violated or carelessly executed, or in bad faith, or shall the Owner neglect or refuse to renew or again perform such work as may be rejected by the Director of Public Works as defective or unsuitable, or shall the Owner in any other manner, in the opinion of the Director of Public Works, make default in performance of the terms of this Agreement, then in any such case, the said Director of Public Works shall promptly notify the Owner and his surety in writing of such default or neglect and if such notifica- tion be without effe�t within 10 clear days after such notice, then in that case, the Director of Public Works shall thereupon have full authority to purchase such materials, tools and machinery and to employ such workmen as in his opinion shall be required for the proper completion of the said work at the cost and expense of the Owner or his surety, or both. (2) In cases of emergency, in the opinion of the Director of Public Works, such work may be done without prior notice but the Owner shall be forthwith notified. (3) The cost of such work shall be calculated by the Director of Public Works whose decision shall be final. (4) It is understood and agreed that such costs shall include a management fee of twenty per cent (20$) of the labour and material value, and fur- ther, a fee of thirty per cent (30$) of the value for the dislocation and ' 4 inconvenience caused to the Town as a result of such default on the part of the Owner, it being hereby declared and agreed that the assuming by the Owner of the obligations imposed by this section is one of the consid- erations without which the Town would not have executed this Agreement. 14. GENERAL PROVISIONS - SERVICES The Owner agrees with the Town: (a) �b) (c) (d) (e) (f) �g) Continuation of Existing Services Where the construction of services herein involves a continuation to existing services, to join into the same, including adjustment of grades where necessary, in a good and workmanlike manner. Public Lands - Fill & Debris (i) Neither to dump nor to permit to be dumped, any fill or debris on, nor to remove or permit to be removed, any fill from any public lands, without the written consent of the authority respon- sible for such lands. (ii) On request, to such authority clause (i). supply the Town with an acknowledgement from of the Owner's compliance with the terms of sub- (iii) That there shall be no burning of refuse or debris upon the Lands or any public lands. Qualitative or Quantitative Tests The Director of Public Works may have qualitative or quantitative tests made of any materials which have been or are proposed to be used in the construction of any services required by this Agreement, and the cost of such tests shall be paid by the Owner within 30 days of the account being rendered by the Town. Relocation of Services To pay the cost of relocating any existing services and utilities caused by the works within 30 days of the account for same being rendered by the Town. Temporary 5igns To provide and erect at its own cost, to the specifications of the Town, temporary signs of such nature and at such locations as may be designa- ted by the Director of Public Works. Engineering Drawings Prior to the acceptance of the works, to supply the Town with the origi- nal drawings of the works, with amendments, if any, noted thereon. Monuments & Markers Prior to the acceptance of the works, to supply a statement by an Ontario Land Surveyor that, after the completion of the works, he has found or re-established all standard iron bars. • 5 15. CONSTRUCTION & OCCUPANCY OF BUILDINGS (1) No building permit shall be issued for any building or part of a building on the Lands until sewer and water facilities are available, and in the opinion of the Director of Public Works, capable of providing adequate service and until this Agreement has been registered. iz) (3) No building or part of a building on the Lands shall be occupied except upon the issuance of a municipal occupancy permit. No application for a municipal occupancy permit for a building or part of a building shall be made except upon the following conditions: (i) (ii) ( iii ) Storm sewer, sanitary sewer and water facilities are installed and in operation to adequately serve such building or part thereof; Electric service is completed and in operation; A hard surface base has been laid on the road immediately in front of the building or part thereof and extended to an existing maintained public road; and (iv) Such curbs, are required structed on public road. as in the opinion of the Director of Public Works, to be completed prior to occupancy have been con- the said road and extend to an existing maintained 16. CONTRIBUTIOIV TO PINE CREEK STORM WATER MANAGEMENT PROJECT Prior to the registration of this Agreement, the Owner shall pay to the Town the sum of $1,148 as the Owner's contribution to the costs to the Town of the Pine Creek Storm Water Management Project which serves in part the Lands. 17. GENERAL PROVISIONS - FINANCIAL MATTERS The Owner agrees with the Town: (a) (b) (c) (d) Taxes To pay the taxes in full on the Lands as required by law from time to time. Interest To pay interest at the rate of eighteen per cent (18$) per annum to the Town on all sums of money payable herein which are not paid on the due dates calculated from such due dates. Registration Fees To pay all registration costs incurred by the Town relating in any way to the registration of the plan of condominium or any other related documen- tation, including trahsfers, in the Land Titles Office. Lien or Other Claims Upon applying for final acceptance of the works to supply the Town with a Statutory Declaration that all accounts for work and materials have been paid, except. normal guarantee holdbacks, and there are no claims for liens or otherwise in connection with work done or materia] supplied for or on behalf of the Owner in connection herewith or if such claims do exist, the Owner shall indemnify the Town against all claims, actions or demands for liens or otherwise and all costs in connection therewith. � 6 m 19 SITE PLAN/DEVELOPMENT CONTROL (1) No development, including redevelopment, shall be undertaken on the Lands except in conformity with this Agreement and with the following plans and drawings (herein collectively called the "Plans"): Dwg. No. (a) A-1 (b) A-2 (c) L.1 (d) SP-1 Dwg. Title Site Plan Elevation s Landscape Plan Site Servicing Plan Last Revision October 12, 1988 October 12, 1988 October 11, 1988 October 12, 1988 drawings A-1 and A-2 having been prepared by Stone, Kohn, McQuire, Vogt, Architects (project 88A137), drawing L.1 having been prepared by Terraplan Landscape Architects (project TLA 88-227) and drawing SP-1 having been prepared by Prosum Engineering Ltd. (project 88A137). (2) The Owner shall maintain, in conformity with the Plans, to the Town's satisfaction and at the sole risk and expense of the Owner, all of the facilities and works that are both shown on the Plans and located on the Lands, and shall ensure the timely removal of snow from access ramps, driveways, parking and loading areas, and walkways. (3) For the purpose of guaranteeing the maintenance by the Owner for two years after installation of the facilities and works required to 6e main- tained under subsection (2), above, the Owner shall provide to the Town, prior to the issuance of a building permit for the first dwelling unit to be erected on the Lands, a security in the form of an irrevocable letter of credit issued by a chartered bank in Canada in the amount of $15,000 which security may be drawn upon by the Town in such amounts, and at such times as the Town, in its sole discretion, deems advisable, should the Owner fail to maintain the facilities or works for that two year period to the Town's satisfaction. TIME LIMITED FOR WORK & GUARANTEE FOR WORKMANSHIP & 64ATERIALS (1) The Owner shall complete all works, services and requirements under this Agreement within eighteen months of the date of registration of this Agreement. (2) The Owner shall guarantee all works, workmanship and materials employed or used in the construction, installation or completion of all works, ser- vices and requirements under this Agreement for a period of two years from the date that the works, services and requirements are approved in writing by the Town. IN WITNESS WHEREOF, the parties hereto have hereunto affixed their corporate seals, attested by the hands of their authorized officers. SIGNED, SEALED & DELIVERED WALNUT GROVE PLAZA INC. T ce 7 N OF THE TOWN OF PICKERING /a' , ENCUMBRANCER - ROYAL TRUST CORPORATION OF CANADA ("ROYAL TRUST" This Agreement shall have priority over and take precedence over all of Royal Trust's rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or interest is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. D ated at this day of , 1988. SIGNED, SEALED & DELIVERED ROYAL TRUST CORPORATION OF CANADA ENCUMBRANCER - WALTER FRANCIS AND JEAN YVONNE FRANCIS ( Collectivelv "Francis" ) This Agreement shall have priority over and take precedence over all of Francis' rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or interest is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at this day of , 1988. SIGNED, SEALED & DELIVERED In the presence of Wa ter rancis Jean Yvonne rancis , $