Loading...
HomeMy WebLinkAboutBy-law 2056/85THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO, 2056/85 Being a by-law to authorize the execution of an agreement between The Corporation of the Town of Picketing, J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. respect- ing servicing securities for Draft Plans 18T- 79004(R) and 18T-79088. WHEREAS J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. have requested that The Corporation of the Town of Picketing receive, hold and deal with certain securities to be provided by them pursuant to an agreement between them dated November 26th, 1984 for the development portions Draft Plans 18T- 79004(R) and 18T-79088; NOW THEREFORE, the Council of The Corporation of the Town of Picketing HEREBY ENACTS AS FOLLOWS: The Mayor and Clerk are hereby authorized to execute an agreement in the form attached hereto as Schedule A between J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. and The Corporation of the Town of Picketing under which The Corporation of the Town of Pickerlng will receive, hold and deal with certain securities to be provided by J.D.S. Irvestments Limited and Grand Oak Homes (Eas~:ern Division) Inc. pursuant to an agreement between those companies dated November 26th, ]984 for the development of portions of Draft Plans 18T-79004(R) and 18T-79088. BY-LAW read a first, second and third time and finally passed this 2nd day of July, 1985, B~uce Taylor, G]er~ THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 205~/85 Being a by-law to authorize the execution of an agreement between The Corporation of the Town of Picketing, J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. respect- ing servicing securities for Draft Plans 18T- 79004(R) and 18T-79088. WHEREAS J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. have requested that The Corporation of the Town of Picketing receive, hold and deal with certain securities to be provided by them pursuant to an agreement between them dated November 26th, 1984 for the development portions Draft Plans 18T- 79004(R) and 18T-79088; NOW THEREFORE, the Council of The Corporation of the Town of Picketing HEREBY ENACTS AS FOLLOWS: 1. The Mayor and Clerk are hereby authorized to execute an agreement in the form attached hereto as Schedule A between J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. and The Corporation of the Town of Picketing under which The Corporation of the Town of Picketing will receive, hold and deal with certain securities to be provided by J.D.S. Investments Limited and Grand Oak Homes (Eastern Division) Inc. pursuant to an agreement between those companies dated November 26th, 1984 for the development of portions of Draft Plans 18T-79004(R) and 18T-79088. BY-LAW read a first, second and third time and finally passed this 2nd day of July, 1985. Schedule A to B~-law 2056/85 THIS AGREEMENT made this 2nd day of July, 1985. BETWEEN: J.D.S. INVESTMENTS LIMITED herein referred to as "J.D.S." OF THE FIRST PART, - and - GRAND OAK HOMES (EASTERN DIVISION) INC. herein referred to as "Grand Oak" OF THE SECOND PART, THE CORPORATION OF THE TOWN OF PICKERING herein referred to as "Picketing" OF THE THIRD PART. WHEREAS, (a) $.D.S. proposes to subdivide and service part Lot 21, Picketing, pursuant to draft plan 18T-79004(R); Concession (b) Grand Oak proposes to subdivide and service part Lot 20, Concession 2, Picketing, pursuant to draft plan 18T-79088; - 2- (¢) (d) the J.D.S. proposal and the Grand Oak proposal are designed such that each is dependant upon the other to some degree for the provision of services; J.D.S. and Grand Oak have entered into a cost-sharing agreement dated November 26th, 1984, sections 10, ll, 12, 13 and 14 of which set out certain obligations of each, a copy of which sections is attached hereto as Schedule "A"; (e) J.D.S. and Grand Oak have amended that agreement such that, (£) (i) easements shall be delivered to Pickering on or before July 30th, 1985, (ii) subdivision agreements with Picketing and The Regional Munic- ipality of Durham shall be entered into, together with any addi- tional agreements required, on or before July 30th, 1985. and (iii) each of J.D.S. and Grand Oak shall commence servicing works on or before July 30th, 1985; J.D.S. and Grand Oak have requested that the Town receive, hold and deal with the letters of credit in compliance with sections 10, Il, 12, 13 and 14 of that agreement; NOW THIS AGREEMENT WITNESSETH that for good and valuable consideration the parties agree as follows: J.D.S. and Grand Oak shall comply with the provisions of sections 10, 11, 12, 13 and 14 of the Cost Sharing Agreement between them dated November 26th, 1984, as set out in Schedule "A" attached hereto, and in particular acknowledge that letters of credit shall be furnished in the following amounts: (a) by J.D.S. - $ (b) by Grand Oaks - $ 2. That Picketing shall receive, hold and deal with those letters of credit in compliance with sections 10, 11, ]2, 13 and 14 of that agreement. In consideration of Pickering's entering into this Agreement, J.D.S. and Grand Oak jointly and severally hereby, (a) remise, release and forever discharge, and (b) indemnify and save harmless, Picketing, its officers and employees and their respective heirs, executors, administrators, successors and assigns, of and from all actions causes of action, accounts, claims, debts, damages, demands, and costs associated therewith, arising, to arise or which may hereafter be brought against them, or any of them, by or on behalf of J.D.S. or Grand Oak or any other person, because of the provisions of this Agreement or any error, omission, failure or negligence in the application thereof or relating in any way to the installation, construction or failure to install or construct services in either draft plan 18T-79004(R) or draft plan ]8T-79088, or both. 4. This Agreement shall enure to the benefit of and be binding upon the parties hereto, their successors and assigns. -3- IN WITNESS WHEREOF, the said Parties have hereunto affixed their Corporate Seals attested to by the hands of their proper officers in that behalf fully authorized. SIGNED, SEALED & DELIVERED J.D.S. INVESTMENTS LIMITED GRAND OAK HOMES (EASTERN DIVISION) INC. THE CORPORATION OF THE TOWN OF PICKERING ]o. (al (h) (c) (al (el SCHEDULE "A" In the event that either party hereto has not registered its lands as plan of subdivision by Hatch 30th, 1985 ("Non-Registering Party"), and the other party has so registered its lands ("Registering Party"), then the Non-Registering Party shall~ on-or-before (il / deliver the easements and lands tn accordance with this agreement (save and except for the New Road, ~lch will have be~n previously conveyed and serviced)' ,. '(~)/~ deliver a )etter(s) of credit and/on other security to the To~m and/or Region in amo~t~ estat, li~h(.d by the Engineer for ~ts costs of the services as rcqui~rd herein, which shall inc]ude a fifteen per cent {15%) char)'e for engineering pro- ject management and supervision but, Jn any event, sati~fac- tory to the Tovm and/or the Region Jn fo~s acceptable to the To~m and/or the Region; and /~ ~ ~, .,. (iii) comence servicing of its lands by/April 30th, ]985 accordance with the terms hereof,/~ complete such servicing wlthin three (3) months thereafter, to as to not restrict building and occupancy permit~ within the lands of the other party because of th(' absence or insuff~ciency of such services within its o~ lands. For thc purposes of this agreement, a non-registering party, having complied w~th paragraphs lO(a) (il, (ii) m~d (iii), shall hereinafter he referred to as an "Advancing Party". If neither party bas registered its ]ands by March 30th, 1985, then each party shall, on or before March 30th, lq85, deliver the lands and easements referred to in paragraph ]0 (al (il and deliver the letter(s) of credit referred to in paragraph 10 (al (ii) to the Town and/or Region. The intention of this paragraph ia that if a party iea Registering Party or is an Advancing Party, then w~thin three (3) months thereafter, the other party, in accordance with paragraph 10 (al (iii) above, and subject to paragraph 16, shall service its ]ands so that there shall be sufficient services installed within the lands of the party who hms not registered or has not complied w~th parafraphs lO (al fi), (ti} and (iii) that are functional to a degree so a~ not to restrict building and occupancy permits w~thin the lands of the party registering its plan or advancing services, rot this purpose, the Registering Party or Advancing Party wi]], i) m,cessary, have access to the lands of the other to do such servicing as provided for in this agreement. The Non-Registering Party or Non-advancing Party shall reimburse the Registering Party or Advancing Party for the casts incurred by the Registering Party or Advancing Party to do the servicing tbe Non- Registering Party is obligated to do under ~his agreement, such rr'imbursen,ent not to exceed the "unit cost" (,~ servic5ng incurred by the party performing such services within its o~m subdivision, payable as set out in paragraph 12 hereof, pr~,vlded such unit costs exist within the Registering or Advancing Party's lands, such costs to be reasonable, in any event. lhe Registering Party or Advancing Party shall not service the Non-Registering Party's lands unless: (il April 30th, 1985, has expired and the Non-Registering Party has not commenced in good faith to service its lands; and (ii) the Registering Party or Advancing Party proceeds expedi- tiously and in good faith at the same time to service its own lands. ii) Any party doing servicing on the other party's lands must do so..in con- formity with the requirements of the lown and/or Region and under the supervision of the Engineer. The parties shall ensure that engineering dra~tngs, as they relate to that portion of the services that are to be Installed in order to permit the other party's services to be functional, are complete and approved by the Town and/or Region by no later than March 30th, 198S. Upon execution of thts agreement, both parties will instruct the Engineer to proceed e~pedi- tlously with the plans. Save and except as it relates to the obligations with respect to iht~ ~- construction and payment for the New Road, the obligations of the parties / under this agreement with respect to the balance oF this agreement are con- ditional uppn_~n aqre~ment being entered into by the parties with the 1own ~ the ~n.z,~grees to receive the letters of credit and an) other ~ security it deems necessary to implement the provisions of this agreement. lhe agreemenk.~ith the Town shall be in such fo~ as required by the lown.-~ and wi)) provide, inter alia/ that: ' , x -- ~' (al ~ e~ther party her~f is ~n deTault under this/ agreement, ~ich . default sh~ll be exclusively established by a certificate fr~ the non- defaulting party to that default, then the )own/be and'~'~ereby L',~ authorized to draw down upon the letter of credit provided by suc~ defaulting party and with the proceeds thereof reimburse the non- defaulting party (or any costs incurred by the non-defaulting party to cure the default of the defaulting party; ~nd (bT the Town shall be entitled to rely upon the certificate from the non- defaulting party stipulating: ii) default; (ii) costs incurred by the non-defaulting party to cure such default, as certified by the Engineer as being work performed and attributable to the defau]tinE party on the defaulting party's lands. (iii) that such default has been remedied by the non-defaulting party and the Engineer so certifies the work is'complete; (cT upon such certificate being delivered, the Town is irrevocably directed to pay the lesser of the moneys received by it after drawing down on such letter of credit or the amount incurred by the non-defaulting party to cure such default to the non-defaulting party. After any of the parties hereto commences the installation of the services within their lands, they shall continue, subject to Force Majeure, with construction of such services so that the lack of or insufficiency of the services within the lands of such party is not the cause for the other party being unable to obtain building permits for d~elltngs intended to be erected upon such other party's lands and to prohibit the occupancy of such dwellings once completed. For the purpose of this agreement, services shall include: (aT the roadgrid coloured yellow and green as Schedule (b) above and below ground services over and under such roadgrtd, including, but not limited to, sanitary and storm sewers, and storm water detention pond if necessary, watermains, catch basins, grading, gravelling, paving, curb gutter paving, sewer and storm connections and any and all related works as specified by the lown and/or Region and/or other authorities which may be outside the limits of the roadgrids, but within the easements referred to above. Notwithstanding what is herein provided, Grand Oak shall haye the option, in lieu of providing a letter of credit under paragraph lO(aT(ii) above, to advise d.D.S, by March 30th, 1985, that it wishes to delay the installation of services within the Grand Oak lands, in which event i.D.S, may install temporary services within its own lands and G~and Oak will reimburse J.D.S. for the cost of such temporary ser- vices, as certified by the Engineer, at w~tch time the letter(s) of :redit in subparagraph (bT below shall be reduced accordingly. (d) (b) ]n thts event. Grand Oak shall deliver to ,1.D.S. on or before Apr11 ]Sth, ]985. a letter of credit for an amount estlmated by the Engineer as to the cost of such temporary services, plus the estimated cost made by the Engineer of Overslztng. tn such form es reasonably acceptable to ~.O.S. If Grand OaL serves notice under paragraph ]4(a), then it shall, by August 3Otb. ]98§, complete sufficient services within its lands so that the lots on the ,].D.S. Subdivision will not be affected by the lack of serv4ces within the Grand Oak Su'odivislon, whtch will restrlct the ava ti ability of building per~ntts and occupancy permits. For the temporary servtces beJng Installed. Grand Oak shall, against reduction in the letter of credit delivered tn accordance wtth paragraph (b). reimburse O.D.S. for the cost thereof. In no event ~tll the letter(s) of credlt be reduced to less than the value of any outstanding temporar~ servJces st111 to be done, as certified by the Engineer.