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HomeMy WebLinkAboutBy-law 1286/81?i Ob"dN .. 1?i v 1j; iJ El u THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 1286/81 Being a By-Law to authorize the execution of an Agreement between Maple Ridge Homes Ltd. and the Corporation of the Town of Pickering to amend the Subdivision Agreement dated March 2nd, 1981 between Maple Ridge Homes Ltd. and the Town respecting the development of Draft Plan of Subdivision 18T-80021. WHEREAS, the Corporation of the Town of Pickering entered into a Subdivision Agreement with Maple Ridge Homes Ltd. on March 2nd, 1981 to provide for the development of Draft Plan 18T-80021; and WHEREAS, it is now deemed appropriate to amend the said Subdivision Agreement in certain respects; 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 an Agreement, in the form attached hereto as Schedule "A", between Maple Ridge Homes Ltd. and the Corpora- tion of the Town of Pickering, to amend the Subdivi- sion Agreement dated March 2nd, 1981 between Maple Ridge Homes Ltd. and the Corporation of the Town of Pickering with respect to the development of Draft Plan 18T-80021. BY-LAW read a first, second and third time and finally passed this 4th day of May , 1981. 1? - vnr SCHEDULE "A" to By-law 1286/81 THIS AGP.,PEMENT made in sext:.upl.icate this 4th .i, of May, 1981. B E T W E E N: MAPLE RIDGE HOMES LTD. hereinafter called the "Owner" OF THE FIRST PART, - and - THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF THE SECOND PART, - and - JUNE VANDENBERG - and - THE ROYAL BANK OF CANADA (as Debenture-Holder) and E. J. R. PHILLIPS INVESTMENTS LIMITED, a Corporation incor- porated under the laws of the Province of Ontario hereinafter called the "Encumbrancers" OF THE THIRD PART. WHEREAS,by Agreement dated March 2nd, 1981 between the Owner, the Town and the Encumbrancers, the Owner proposed to subdivide and register, with the consent of the Encumbrancers, a plan of subdivision of those parts of Lot 24, Concession 2, Pickering, being Ministry of Housing Draft Plan Number 18T-80021; and WHEREAS,it is deemed desirable to amend the said Agreement in certain respects; and WHEREAS, the Encumbrancers have certain rights or interests in the nature of encumbrances relating to the lands affected hereby; NOU THEREFORE, THIS AGREEMENT WITNESSETH THAT, in consideration of the sum of Two Dollars ($2.00) paid by each Party to the others, receipt of which from each is hereby acknowledged by each, the Parties hereto agree as follows: - 2 - The lands affected by this Agreement ar?- ALL AND SINGULAR those certain parcels or tracts of land and premises situate, lying and being in the Town of Pickering, in the Regional Municipality of Durham and Province of Ontario and being composed of those parts of Lot 24, Concession 2, designated as Parts 5 and 10 on a plan of survey of record deposited in the Registry Office for the Registry Division of Durham as Plan No. 40R-5886. _; 2. In this Agreement, the term "Subdivision Agreement" shall mean the Agreement dated March 2nd, 1981 between the owner, Lhe Mown and the Encumbrancers. 3. The Owner acknowledges and agrees that it is bound by all the terms and provisions of the Subdivision-Agreement. 4. Section 29 of the Subdivision Agreement is hereby deleted and the following substituted therefor: (1) The Parties acknowledge that, in the dedication of parkland for the subdivision designated as Draft Plan 18T-79068, the owner or related companies dedicated a surplus of 0.9864 hectares. (2) It is hereby agreed by the Parties that 0.2826 hectares of that 0.9864 hectare surplus constitutes the parkland dedication required for the development of the subdivision designated as Draft Plan 18T-78092. (3) It is hereby further agreed that an additional 0.6444 hectares of that 0.9864 hectare surplus shall constitute the parkland dedication required for the development of the subdivision of the lands affected by this Agreement (18T-80021). (4) It is hereby acknowledged by the Parties that, as of the date of this Agreement, the net surplus of parkland dedicated by the Owner or related companies to the Town is 0.0594 hectares. 5. The Encumbrancers agree with the Town that this Agreement shall have priority over and take precedence over any rights affected hereby, 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. 6. Time shall be of the essence of this Agreement. 7. This Agreement and everything herein contained shall enure to the benefit of and be binding upon the Parties hereto, their successors and assigns. - A - IN WITNESS WHEREOF, the said Partie° have hereunto affixed their Corporate Seals attested to by the hands of their proper officers in that behalf fully authorized, and JUNE VANDENBERG has hereunto set her hand and seal. SIGNED, SEALED AND DELIVERED . MAPLE RIDGE HOMES LrD. President P In the presence of Power of Attorney registered as No. on Vice-President THE CORPORATION OF THE TOWN OF PICKERING Mayor Clerk JUNE VANDENBERG THE ROYAL BANK OF CANADA, By Its Attorneys E. J. R. PHILLIPS INVESTMENTS LIMITED President