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HomeMy WebLinkAboutBy-law 2894/88THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO, 2894 /88 Being a by-law to authorize the execution of an offer by The Corporation of the Town of Picker- ing to sell Part Lot 21, Concession 2, (Parts 2, 4, 8, 13, 18, 19, 24, 25, Plan 40R- //(�p�f ) to Duffin Developments Inc. WHEREAS, pursuant to the provisions of the Municipal Act, R.S.O. 1980, chapter 302, section 193, The Corporation of the Town of Pickering acquired by deed dated September 13, 1984, and registered November 13, 1984 as Instrument No. D187334 certain lands in Lot 21, Concession 2, Pickering, for road purposes and in so doing acquired a larger quantity of land than it required for those purposes; and WHEREAS, pursuant to that section, the Council of The Corporation of the Town of Pickering now wishes to dispose of that quantity of land that is not required for road purposes; 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 Offer to Sell/Agree- ment of Purchase and Sale, in the form attached hereto as Schedule A, between The Corporation of the Town of Pickering as vendor and Du£fin Developments Inc. as purchaser respecting the sale and purchase of those parts of Lot 21, Concession 2, Pickering, designated as Parts 2, 4, 8, 13, 18, 19, 24 and 25, Plan 40R- //(009 , for the sale price of $�;99$�$. �9G, �42.50. BY-LAW read a first, second and third time and finally passed this 19th day of September, 1988. � � i� r-��t�G� Wayne rthu , Mayor �v--�--� C Bruce Tayloi , Cl k TOWN OF P�Ck(FRING nPne;ov�o AS Ta fQRP ,.�c�� OFFER TO SELL AGREEMENT OF PURCHASE AND SALE THE CORPORATION OF THE TOWN OF PICKERING (herein called the "Vendor") hereby agrees to sell to the Purchaser, and DUFFIN DEVELOPMENTS INC. (herein called the "Purchaser") hereby agrees to purchase from the Vendor certain premises (herein called the "real property") Concession 2, Pickering, designated as Parts 2, 4, 8, proposed reference plan prepared by Schaeffer and 86-376-1), comprising 0.3126 acres more or less, �4G, 982, 50 at the price or sum of $�c5,-998:$9, payable as follows: d/,9f2.5o �$�;$@6:69 as a deposit, paid upon delivery of acceptance being that part of Lot 21, 13, 18, 19, 24 and 25 on a Reinthaler Limited (Job No. hereof by the Purchaser, to be held in trust by the Vendor pending completion or other termination of this Agreement, and to be credited on account of purchase money on closing, and d4.5, 000. Gn $i4�89�'@9�, subject to the adjustments set out in section 4 below, paid on closing. 1. This Offer shall be irrevocable by the Vendor between 9:00 a.m. on September 20, 1988 and 4:00 p.m. on September 30, 1988, after which latter time, if not accepted by the Purchaser and an executed copy hereof delivered to the Vendor, this Offer shall be null and void. 2. The Purchaser shall accept the real property subject to any defects in title that may exist as of the date of acceptance hereof and to all restrictions and cove- nants that run with the land so long as they all have been complied with. Any examination of title shall be done by the Purchaser at its own expense and the Purchaser shall not call for the production of any title deed, abstract of title, survey, proof or evidence of title, whether or not in the Vendor's possession or under its control. 3. 4. 5. 6. 7. 8. 9. If within the period between acceptance and closing, the Purchaser shall fur- nish the Vendor in writing with any valid objection to the title, arising within that period which the Vendor shall be unable or unwilling to remove or correct, and which the Purchaser will not waive, this Agreement shall, notwithstanding any intermediate acts or negotiations, be null and void and the deposit money returned to the Purchaser without interest or deduction, and the Vendor shall not be liable for any costs or damages. Save as to any valid objection so made within that period, the Purchaser shall be conclusively deemed to have accepted the title of the Vendor to the real property. This transaction shall close on October 14, 1988 on which date vacant possession of the real property shall be given to the Purchaser. The Purchaser shall prepare and register prior to closing the reference plan referred to above at its cost. The Transfer shall be prepared by the Vendor in a form acceptable to the Purchaser's solicitor. The affidavit required under the Land Transfer Tax Act shall be prepared by the Purchaser at its expense. The Purchaser shall pay the costs of registration of the Transfer and all land transfer taxes. This Offer, when accepted, shall constitute a binding agreement of purchase and sale, and time in all respects shall be of the essence of this Agreement. (1) The Purchaser warrants that, as of the date of acceptance by it of this Offer, it is the registered owner of the lands that abut the real property on its south and east sides (herein called the "Purchaser's lands"). z (2) This Offer and any resulting agreement of purchase and sale may be assigned by the Purchaser only to a successor to the Purchaser of the Purchaser's lands. (3) The Purchaser may not require that the Vendor transfer the real proper- ty or any portion thereof to any transferee who is not the registered owner of the Purchaser's lands or the abutting portion of the Purchaser's lands, as the case may be. 10. There is no representation, warranty, collateral agreement or condition affecting this Agreement or the real property or supported hereby other than as ex- pressed herein in writing. 11. Any tender of documents or money hereunder may be made upon the Vendor or Purchaser or upon the solicitor acting for the party on whom tender is desired, and it shall be sufficient that a negotiable certified cheque be tendered instead of cash. 12. This Offer and its acceptance shall be read with all changes of gender or number required by the context. DATED at Pickering this 19th day of September, 1988. IN WITNESS WHEREOF THE CORPORATION OF THE TOWN OF PICKERING has here- unto affixed its corporate seal duly attested by its proper authorized officers. SIGNED, SEALED AND-DELIVERED THE CORPORATION OF THE TOWN OF PICKERING Mayor ruce ay or, er DUFFIN DEVELOPMENTS INC. hereby accepts this offer and all terms, conditions and all covenants therein. DATED at this day of September, 1988. IN WITNESS WHEREOF Duffin Developments Inc. has hereunto affixed its corporate seal attested by its authorized officers. SIGNED, SEALED AND DELIVERED DUFFIN DEVELOPMENTS INC.