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HomeMy WebLinkAboutBy-law 3502/90 THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 3502/90 Being a by-law to authorize the execution of a Development Agreement between Petrou, Lioukras, 699504 Ontario Ltd. and the Town providing for the development of part of Lot 33, Concession 1, Pickering (A70,/87(R); A ltona Pinegrove L CA). WHEREAS on June 6, 1988, the Council of The Co.rporation of the Town of Pickering approved the proposal to develop part of Lot 33, Concession 1, in the Town of Pickering in the Regional Municipality of Durham, in accordance with Official Plan Amendment Application 87-85/P, Zoning By-law Amendment Application A70/87(R), and Zoning By-law. 3036 as amended by By-law 2822/88, for the development thereon of a mixed use commercial/r,esidential project; 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 Town enacted By-law 1079/80 on January 21, 1980, designating the whole of the area of the Town of Picketing as a site plan control area; and WHEREAS therefo,re the Town requires the proponent to enter into an Agreement with it pursuant to the provisions of section 40(7)(c) of the Planning Act 1983, prior to the development, l'ncluding redevelopment, of the lands affected hereby and the erection, construction and installatmn of buildings, structures, facilities and works thereon; 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 Agreement, in the form attached hereto as Schedule A, between Stamatoula Petrou, William Petrou, Panag!ota Petrou, Argirios P.etrou, Achilles Lio.ukras,, Christin.e Lioukras, 699504 Ontario Ltd. and The Corporation of the Town of P~ckenng respecting the development of that part of Lot 33, Concession 1, Picketing, designated as Part 3, Plan 40R-12948 and Parts 2 and 3, Plan 40R- (AT0/87(R)). BY-LAW read a first, second and third time and finally passed this 25th day of June, 1990. Bruce Taylor, Clerk TOWN OF PICKEr{lNG APPROVED AS TO FORM THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO, 3502/90 Being a by-law to authorize the execution of a Development Agreement between Petrou, Lioukras, 699504 Ontario Ltd. and the Town providing for the development of part of Lot 33, Concession 1, Pickering (ATO/87(R); Altona Pinegrove L CA). WHEREAS on June 6, 1988, the Council of The Corporation of the Town of Picketing approved the proposal to develop part of Lot 33, Concession 1, in the Town of Picketing in the Regional Municipality of Durham, in accordance with Official Plan Amendment Application 87-85/P, Zoning By-law Amendment Application A70/87(R), and Zoning By-law 3036 as amended by By-law 2822/88, for the development thereon of a mixed use commercial/residential project; 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 Town 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; and WHEREAS therefore the Town requires the proponent to enter into an Agreement with it pursuant to the provisions of section 40(7)(c) of the Planning Act 1983, prior to the development, lncludinlg redevelopment, of the lands affected hereby and the erection, construction and installation of buildings, structures, facilities and works thereon; 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 Agreement, in the form attached hereto as Schedule A, between Stamatoula Petrou, William Petrou, Panagiota Petrou, Argirios Petrou, Achilles Lioukras, Christine Lioukras, 699504 Ontario Ltd. and The Corporation of the Town of Picketing respecting the development of that part of Lot 33, Concession 1, Pickering, designated as Part 3, Plan 40R-12948 and Parts 2 and 3, Plan 40R- (AT0/87(R)). BY-LAW read a first, second and third time and finally passed this 25th day of June, 1990. Wayne Arth~u.~d~ ay°r ~ St~IEELrr__~ A THIS DEVELOPMENT AGREEMENT made June 25, 1990. BETWEEN: STAMATOULA PETROU, WILLIAM PETROU, PANAGIOTA PETROU, ARGIRIOS PETROU, ACHILI.ES LIOUKRAS, CHRISTINE LIOUKRAS and 699504 ONTARIO LTD, hereinafter collectively 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 ~Ow~.er proposes to develop that part of Lot 33, Concession 1, in the Town of Picketing in the Regional Municipality of Durham, designated as Part 3, Plan 40R-12948, and Parts 2 and 3, Plan 40R-XXXXX, in accordance with Official Plan Amendment Application 87-85/P, Zoning By-law Amendment Application AT0/87(R), and Zoning By-law 3036 as amended by By-law 2822/88, for the development thereon of a mixed use commercial/residential project; and WHEREAS, pursuant to the provisions of the predecessor of section 40 of the Planning Act 198~ S.O. 1983, chapter 1, the Council of the Town .enacted By-law 1079/80 on January 21, 1980, designating the whole of the area of the Town of Picketing as a site plan control area; and WHEREAS therefore, the Town requires the Owner to enter into an Agreement with it prior to the development, including redeve.!opment, of the 1.a. nds affected hereby and the erection, constructionand installation of buildings, structures, facilities and works thereon; NOW THEREFORE, THIS AGREEMENT WITNESSETH, that in consideration of the Town approving the Official Plan Amendment Application, the Zoning By-law Amendment Application, and the Owner's site plans and drawings, and the covenants hereinafter expressed, the Parties hereto covenant and agree one with the other as follows: 1. LANDS AFFECTED The lands affected by this Agreement (the "Lands") are those parts of Lot 33, Concession 1, Pickering, designated as Part 3, Plan 40R-12948, and Parts 2 and 3, Plan 40R-XXXXX. 2. CANCELLATION OF AGREEMENT In the event this Agreement is not re$istered on or before December 31, 1990, the Town may, at its option on one month's noUce to the Owner, declare this Agreement to be null and void andof no further effect, and the Town shall not be liable for any expenses, costs or damages suffered by the Owner as a result thereof. 3. NOTICE Any notice require, d to.be given hereunde.r may be given by registered mail addressed to t. he oth?r Party at its principal place of business and s. hall be effective as of the second day immediately following the date of the deposit thereof in the Post Office. (1) Whenever in this Agreement the word "Owner" or "Encumbrancer' and the pronou~t ~tt~ is used, it shall be read a. nd construed as "Owner or Owners", aEncumbrancer or Encumbrancers" and "h~s', "her" or ~them", respectively, and the number of the verb agreeing therewith shall be construed accordingly. (2) -- Schedules A and B attached hereto shall form part of this Agreement. 5. TIME Time shall be of the essence of this Agreement. 6. BINDING PARTIES This Agreement and everything herein contained shall enure to the benefit of and be binding upon the Parties hereto, their successors and assigns. 7. LICENCE TO ENTER The Owner shall retain a licence from any subsequen~purchaser of the Lands, or any part thereof, to enter upon the Lands in order to comply w~ththe provisions of this Agreement. 8. OWNER'S GENERAL UNDERTAKING The Owner shall c.omplete at its own expense and in a good workmanli.ke manner, for the Town, all the municipal services as hereinafter set forth to the satisfaction of the Town of Pick?ring, and shall complete, perform or make payment for such other matters as may be prowdedfor herein. 9. CONSULTING ENGINEERS (1) The Owner shall retain a Professional Eng. ineer as the Consulting. Engineer of the Owner to.carry out all the necessary engineering and to supervise generally the work reqmred to be done for the development of the project. (2) Such Consulting Engineer, or an thereto, shall continue to be retained until the work provided for in th~ successor ~ Agreement is completed and formally accepted by the Town. 10. STORM DRAINAGE (1) The Owner shall construct a complete storm water drainage and management system, including storm connections to the street line and catch basin leads to service the Lands and the Adjacent Streets and to provide capacity for lands upstream thereof according, to designs approved by the Director of Public Works and according to the specifications of the Town in effect at the date hereof and shall .maintain it, including clearing any blockages or debris from whatever cause, until it is formally accepted by the Town. (2) Such system shall be constructed to an outlet or outlets accordin, g to designs approved by.the Director of Public Works and shall be of sufficient s~ze and depth and at locations either within or outside the Lands to service the Lands and the lands outside the Lands, which in the opinion of the Director of Public Works will require its use as a trunk outlet. (3) Should, in t.he .opinion of the Director of Public Works, an inadequate stream or structure erast m the outlet system outside the Lands, the Owner may be required to carry out such works as are necessary to provide an adequate outlet. (4) The Town may connect or authorize connection into any part of the system but such connection shall not constitute acceptance of the sewer system by the Town. (5) No connection under subsection 4, above, shall be undertaken or authorized.prior to preliminary acceptance of the sewer system by the Town, except m an emergency. -2- 11. ROADS'- ROUGH GRADE - (1) Prior. to the installation or construction of the municipal s. ervices provided for herein, the Owner shall rough grade to the Town's specifications to the full width, the pr. oposed road all.owance designated as Parts 1, 5, 6 and 7, Plan 40R-XXXXX (hereto called the ~Adjacent Streets"). (2) The Owner sh. all keep all boulevards clear and free of materials and obstructions which might interfere with the installation of electric, telephone, gas or other utilities. 12. ROADS - PAVED (1) The Owner shall construct the Adjace. nt Streets according to the Town's specifications for paved roads of the Town m effect at the date hereof. (2) Until assumption by the Town, the Owner shall maintain and repair the Adjacent Streets and any other road where construction has taken place or that is used by construction, traffic ente.ring the Lands and keep such roads clear of mud, dust, refuse, rubbish or other htter of all types. (3) The Owner shall erect and maintain adequate signs to warn all persons using the Adjacent Streets that the maintenance of them has not been assumed by the Town from the time that they are opened until formal assumption by the Town. (4) SEch signs and the location thereof are subject to the approval of the Town's Director of Public Works. 13. CURBS & GUTFERS (1) The Ow~..er shall construct curbs and gutters on the Adjacent Streets according to the specifications of the Town in effect at the date hereof and shall maintain them until they are formally accepted by the Town. (2) If any curb depressions are not located correctly with respect to a driveway, the Owner shall construct a curb depression in the correct location and fill in the original curb depression according to the specifications. 14. SIDEWALKS (1) The Owner shall construct a sidewalk along th.e entire south and east side of the Adjacent Streets prior to the occupancy of the first dwelling unit to be occupied on the Lands despite the provisions of section 1 of Schedule A. (2) The Owner shall maintain the sidewalk until it is formally accepted by the Town. 15. ELECTRICAL SERVICES Where electricity, cable television service or telephone service is to be provided to or on the Lands or on the Adjacent Streets, it shall be provided underground and in accordance with the standards and specifications of Pickering Hydro-Electric Commission, Picketing Cable T.V. Limited or Bell Canada, as the case may be. 16. STREET LIGHTING (1) The Owner shall install street lights, including poles and other necessary appurtenances, on the Adjacent Streets. (2) Electrical service for street lighting shall be provided underground and not aboveground. (3) Street lighting and its related electrical service shall be designed and installed in accordance with standards established by t.h.e Town and in conformity with the Association of Municipal Electrical Utilities Guide to Municipal Standard Construction. -3- (4) The installation of street lighting and its related services' shall be under the supervision and inspection of Pickering Hydro-Electric Commission. 17. I~ (1) Prior to the registration of this Agreement, the Owner shall pay to the Town the sum of $2,730 as an engineering drawing inspection fee. (2) All works required to be constructed by the Owner, except those referred to in sections 15 and 16 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. (3) The costs referred to in subsection (2) may include, but not necessarily be limited to, salaries and wages of Inspectors, testing fees and administration fees. 18. LIABILITY INSURANCE (1) Before commencing any of the work provided for herein, the Owner shall supply the Town with a Certificate of Insurance verifying that a Liability Insurance Pohcy is in place in a form satisfactory to the Town, naming the Town as an insured and inden~.ifying 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 such Liability Insurance Policy, may pay the renewal premium or premiums and the Owner shall pay the cost of such renewal within 30 days of the account therefor being rendered by the Town. (4) It shall be the responsibility of the Owner to notify the Town of the dates for the renewal of the premium of the said policy and to supply proof that the premium of the said policy has been paid in order that the protection provided by the Liability Insurance Policy shall not lapse. 19. PERFORMANCE ~ MAINTENANCE GUARANTEE (1) Before commencing the construction, installation or performance of any of the works provided for herein, the Owner shall supply the Town with a 60% 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) guaranteeing the satisfactory construction, installation or performance of the works; (b) guaranteeing the payment of any amounts payable to the Town under this Agreement; (c) 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, workmanship and materials for a period of 2 years from the date that the works are completed and such completion acknowledged, in writing, by the Director of Public Works. (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, -4- (a) sixty per cent (60%) of the original value where no certificate or declaration of substantial performance has been made; (b) thirty-five per cent (35%) of the original value where, (i) a certificate or declaration of substantial performance has been published; - (ii) 45 days following such publication 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 payment 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 claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by payment into court; which seventeen per cent (17%) portion shall secure the guarantee of works, workmanship and materials, until the obligation to guarantee has e.xpired, when the balance of the security shal! 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 required to be p. rovided in subsection 1, the Town Manager or the Town Treasurer shall provade to the Owner any necessary assurance to effect the reduction._ 20. DRAINAGE - SODDING (1) The Owner shall provide the Town, before commencing any of the workprovided for herein and prior to the commencement of the development of the lands, with a Grading Control Plan prepared by the Owner's Consulting Engineer, establishing the proposed grading of the lands to provide for the proper drainage thereof and the drainage of all adjacent lands which drain through the Lands. (2) The Grading Control Plan shall be prepared in accordance with the Town's Lot Drainage Specifications in effect at the date of this Agreement, and shall not provide for the drainage of surface run-off water onto Town-owned parkland, open space or walkways unless provision is made for the installation by the Owner, at no cost t9 the Town, of suitable swales and catch basins to manage adequately, in the opimon of the Town's Director of Community Services & Facilities, that surface run-off water. (3) The Grading Control Plan is subject to the approval of the Town's Directors of Public Works and Community Services & Facilities. (4) The grading of all lands shall be carried out by the Owner in accordance with the ~_pnPr. oved Grading Control Plan, under the supervision of the Owner's Consulting glneer. (5) If, in the opinion of the Director of Public Works, drainage problems occur prior to formal acceptance of the works by the Town, the Owner shall correct them by re-grading or by the construction of catch basins, swales or other structures as may be necessary to correct such problems. -5- 21. INCOMPLETED OR FAULTY WORK (1) If, in the opinion of the Director of .Public Works, the Ow.her 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 ti.me, or is ~mproperly performang the work, or shall the Owner neglect or abandon it before the completion, or unreasonably delay the same so tha. t the co.nditions of this -- Agreement are bein~violated or careless, ly executed, or in bad faith, or shall the Owner neglect or refuse to renew or agmn 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 ~)erformance of.the terms of this Agreement, then in any su. ch case,, the said irector of Public Works shall promptly notify the Ow~. er and his surety in writing of such default or neglect and !f such notification be without effect.within 10 clear days after such notice, then ~n that case, the Director of Pubhc 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 further, a fee of thirty PFer cent (30%) of the value for the dislocation and inconvenience caused to the own 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 paragraph i.s one of the considerations, without which the Town would not have executed th~s Agreement. 22. TRANSFERS - CONVEYANCES (1) The Owner shall convey to the Town, free and clear of all encumbrances and at no cost to the Town, upon the registration of this Agreement or within the 30 days immediately following thereof, all of, (a) Parts 1, 5, 6 and 7, Plan 40R-XXXXX (for Adjacent Streets). (2) Notwithstanding the provisions of subsection (1), above, a transfer required therein shall not be deemed to be subject to an encumbrance if that encumbrance relates in any way to the existence or maintenance of a public utility in operation as of the date of this Agreement. 23. TRANSFERS - EASEMENTS (1) The Owner shall arrange at no cost to the Town for granting to the Town such easements as the Director of Public Works or his designate shall deem necessary for the provision of storm water drainage and management facilities both within the boundaries of the Lands and across lands adjacent thereto. (2) Such easements shall be subject to the approval of the Director of Public Works or his designate as to their location and width. (3) The construction of any services in such easement or easements referred to in subse.ction (1) shall not commence until the easement has been acquired, unless permission to do so has been obtained by the Owner, in writing, from the Town and from the registered owner of the lands across which the easement shall lie. 24. GENERAL PROVISIONS - SERVICES The Owner agrees with the Town: -6- (a) paving of Driveway Ap-proaches To pave all driveway approaches between the curb and sidewalk. (b) Continuation of Existing S~rvices Where the construction of services herein involves a continuation to existin, g services, to join into the same, including adjustment of grades where necessary, m a good and workmanlike manner. (c) P~blic Lands - Fill & Debris (i) Neither to dump nor to permit to be dumped, any fill .o.r debris on, nor to remove or permit to be removed, any fill from any public lands, other than in the actual construction of Westcreek Drive without the written consent of the authority responsible 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 subclause (i). (iii) That there shall be no burning of refuse or debris upon its lands or any public lands. (d) Construction Traffic Wherever possible, to ensure that construction traffic serving the development of the Lands does not use roads having occupied residential units fronting thereon. (e) Qualitative or Ouantitative 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 x, nth~n 30 days of the account being rendered by the Town. (0 Relocation of Services (i) To pay the cost of relocating any existing services and utilities caused by the work within 30 days of the account for same being rendered by the Town. (ii) Si.milarly to pay the cost of moving any services or utilities installed under th~s Agreement in driveways o.r so close thereto, in the opinion of the Director of Public Works, as to interfere with the use of the driveway. (g) Specifications Unless otherwise provided, to perform any work required to be done under this Agreement to the specifications of the Town in effect at the date hereof. (h) 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 designated by the Director of Public Works. (i) Permanent Signs To provide and erect at its own cost, .to the specifications of the Town, permanent signs of such nature and at such locattons as may be designated by the Director of Public Works. (j) Engineering Drawings Prior to the final acceptance of the works, to supply the Town with the original drawings of the engineering works with amendments, ~f any, noted thereon. -7- - (k) Snow Plowing & Sanding of Roads (i) If, in the opi. nion of the Director of Public Works, the condition of the road surface is not acceptable for winter control, to snow plow and salt the Adjacent Streets to extsting Town roads that receive the Town's winter control service. (ii) Such snow plowing and salting shall be done from time-to time when the Director of Public Works deems conditions warrant and until such time as the Adjacent Streets are acceptable to the Director of Public Works for winter control. (1) Survey Monuments & Markers Prior to the acceptance of the work by the Town, to supply a statement by an Ontario Land Surveyor that, after the completion of the work, he has found or re-established all standard iron bars as shown on Plan 40R-12948 and Plan 40R-XXXXX. 25. CONSTRUCTION & OCCUPANCY OF BUILDINGS (1) No building permit shall be issued for any building or part of a building on the Lands until, (a) sewer and water facilities are available, and in the o. pinion of the Director of Public Works, capable of providing adequate service; and (b) an ~phalt base has been laid on the Adjacent Streets and extended to an existing maintained public road. (2) No building or part of a building on the Lands shall be occupied except upon the issuance of a municipal occupancy permit. (3) No application for a municipal occupancy permit fo.r a building or part of a building shall be made except upon the following conditions: (a) Storm sewer, sanitary sewer and water facilities are installed and in operation to adequately serve such building or part thereof; (b) Electric service is completed and in operation; and (c) Such curbs, as in the opinion of the Director of Public Works, are required to be completed prior to occupancy have been constructed on Westcreek Drive and the Adjacent Streets and extended to an existing maintained public road. (4) The Owner shall maintain vehicular access to all occupied buildings on the Lands until Westcreek Drive and the Adjacent Streets are formally assumed by the Town. 26. SITE PLAN CONTROL (1) No development, as defined in section 40 of the Planning Act 1983, S.O. 1983, chapter 1, shall be undertaken on the Lands except in conformity with this Agreement and with the following plans and drawings (herein collectively called the "Plans"): Plan Last NO, Plan Title Plan Date Revision // P1 Site Plan July, 1989 June 4, 1990 P2 Elevations July, 1989 Not revised P3 Elevations July, 1989 Not revised P4 Basement Plan July, 1989 Not revised ~/repared by J.H. Rust Architect & D. Boecker Architect (Architects in Joint enture), -8- (e) S-1 Site Servicing & Grading Plan May, 1989 Not revised prepared by G.M. Sernas & Associates Ltd., 2) L-1 Landscape Plan May, 1989 May 10, 1990 L-2 Landscape Plan May, 1989 May 10, 1990 prepared by Alexander Budrevics & Associates Limited. (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 serve or are 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, (a) the provision of the facilities, works or matters shown on the Plans, and (b) the maintenance (for one year after provision) of the facilities and works required to be maintained under subsection 2, above, the Owner shall provide to. the Town, prior to the issuance of a building permit, a security in the form of an irrevocable letter of ~redit issued by a chartered bank in .Canada in the amount of $190,00.0 which security may. be drawn upon by the Town m such amounts, and at such times as the Town, in its sole discretion, deems advisable, should the Owner fail to provide or maintain the facilities, works or matters, as the case may be, to the Town's satisfaction. 27. FINANCIAL pAYMENTS (1) The Owner shall pay to the Town a unit levy in the amount of, $2,210 per unit if paid in 1990; or $2,350 per unit if paid in 1991, for each dwelling unit to be erected on the Lands. (2) No building permit shall be issued for any dwelling unit unless payment of the unit levy shall have been made in advance of the issuance of such permit with respect to such dwelling unit. (3) In any event, the Owner shall pay all levies payable under the provisions of this section in full no later than 12 months from the date of registration of this Agreement. (4) A letter from the Clerk of the Town advising that the unit levy has been paid shall be deemed to be a release of this section for the lands referred to in the said letter. 28. FINANCIAL SECURITY The Owner shall prior to the registration of this Agreement, deposit with the Town, a security payable to the Town, in a form satisfactory to the Town, for the sum of $183,300 as security for the payments referred to in section 27 hereof. 29. GENERAL PROVISIONS - FINANCIAL MATI'ER$ The owner agrees with the Town: (a) Taxes To pay the taxes in full on all the Lands as required by law from time to time. -9- (b) 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. (c) To pay all registration costs incurred by the Town relating in any way to the registration ot this Agreement or any other related documentation, including transfers, in the Land Titles Office. (d) 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 such work done or material sup, plied for or on behalf of the Owner in connection with the works, or if such claims do exist, the Owner shall indemnify the Town ag. ainst all claims, actions or demands for liens or otherwise and all costs in connectmn therewith. 30. EXPIRY OF SECURITIES (1) Should any security required to be given under the terms of this Agreement expire during the currency of the 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. (2) Such further security shall be to the satisfaction of the Town. (3) Should no such 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 any further security. 31. PROVISION OF PARKLAND Prior to the registration of the plan, the Owner shall pay to the Town the sum of $143,325 in cash or by certified cheque, which sum the Town shall accept in full satisfaction of the Owner's obhgation to provide parkland. 32. TREE PLANTING (1) The Owner shall plant on road allowances adjacent to the Lands 78 trees of a size and type acceptable to the Town. (2) A schedule of the Owner's tree planting scheme shall be approved by the Town prior to the planting of any trees. (3) The trees approved by the Town shall be planted by the Owner when the boulevard into which they are to be planted is sodded. (4) If the density is too great to enable 78 trees to be planted, the Owner shall pay to the Town $175 for every tree which cannot be planted for tree planting in a public land area within the community in which the plan is located. 33. TREE PRESERVATION (1) The Owner shall retain, at its own expense, a qualified expert to prepare a Tree Preservation Program indicating which existing trees shall be preserved. (2) The Program shall be submitted to the Director of Planning for review and approval of the Director of Community Services and Facilities, and, once approved, shall be implemented as approved only. (3) In determining whether or not to approve the Program, the Director shall be governed by the Town Tree Preservation Policy in effect at the date hereof. - 10- (4) Until such time as th~' Program is approved, the Owner shall not commence, nor allow to be commenced, any aspect of the development of the Lands, including the removal of any trees. (5) In the e.vent that any tree required t.o be preserved by the approved Tree Preservat.mn Program is removed or is, in the opinion of the Town's Director of Comm.u.m.ty Sermces and Facilities, damaged to such an extent that its value or longexaty is decreased or is. likely to be decreased, then the .Owner shall replace that tree with a tree of a height, diameter and species determined by the Director; such replacement shall be at no cost to the Town. (6) The Owner's liability under subsection (5) shall continue until, (a) where the lands upon which the tree is located are residential, twelve months after the completion of the sodding thereof, or (b) where the lands upon which the tree is located are not residential, the expiry of the guarantee period referred to in section 1 of Schedule A of this Agreement. IN WITNESS WHEREOF, the individuals comprising part of the Owner have affixed their hands and seals, and the company comprising part of the Owner and the Town have hereunto affixed their respective Corporate Seals attested by the hands of their authorized officers. SIGNED, SEALED & DELIVERED In the presence of Stamatoula Petrou William Petrou Panagiota Petrou Argirios Petrou Achilles Lioukras Christine Lioukras 699504 ONTARIO LTD. THE CORPORATION OF THE TOWN OF PICKERING Wayne Arthurs, Mayor Bruce Taylor, Clerk -11- I~NCUMBRANCER -THE ROYAL BANK OF CANADA This Agreement shall have priority over and take preced, ence over all of the rights.or interests of Tl~.e Royal Bank of Canada whether or not any such right or interest was established o.r arose prior to the date hereof and whether or not such right or Interest is set out in or arises by virtue of an)' instrument.or d.ocument.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 ,1990. SIGNED, SEALED & DELIVERED THE ROYAL BANK OF CANADA - 12- 1. TIME LIMIT FOR WORK & GUARANTEE FOR WORKMANSHIP & MATERIALS (1) In this section, 'preservicing" means the undertaking, prior to the registration of this .Agreement, of any works or services required to be undertaken by the provisions of this Agreement, on the Lands, the Adjacent Streets, or on any lands adjacent thereto, and "preservice" has a corresponding meaning. (2) The Owner may undertake preservicing limited to earthworks (inclu.ding preliminary grading, soil movement and storage) only with ,the prior wrmen approval of the Town which may be issued by the Towns Legal Services Department only after the Owner has, (a) executed this Agreement; (b) supplied a satisfactory liability insurance policy pursuant to section 18; (c) provided a Grading Control Plan submission pursuant to section 20 which has been approved, subject only to theprovis~on of corrected drawings, by the author~ues referred to in section 20(3); and (d) submitted a Tree Preservation Program pursuant to section 33 which has been approved by the authority referred to in section 33(2). (3) The Owner may preservice this project only with the prior written approval of the Town which may be issued by the Town's Legal Services Department only after the Owner has, (a) executed this Agreement; (b) supplied a satisfactory 1/ability insurance policy pursuant to section 18; (c) supplied a satisfactory performance and maintenance security pursuant to section 19; (d) provided a Grading Control Plan submission pursuant to section 20 which has been approved, subject only to theprovis~on of corrected drawings, by the authormes referred to in section 20(3); and (e) submitted a Tree Preservation Program pursuant to section 3 which has been approved by the authority referred to in subsection 33(2). (4) Despite the provisions of subsections (2) and (3), preservicing limited to, (a) making soil quality and compaction tests, (b) surveying the boundaries of the Lands or Adjacent Streets, (c) marking existing and proposed grade elevations, (d) tests and examinations of the Lands or Adjacent Streets necessary for the preparation of required pre-development studies, (e) compliance with an approved Tree Preservation Program; (f) lawful erection of permitted signs, or (g) any combination thereof, shall not require the prior written approval of the Town. (5) The Owner shall complete all works, services and requirements under this Agreement, (a) within one year of the d. ate of registration of this .Agreement if preservicing (except preserwcing limited .to that described m subsections (2) or (4), or both) has occurred with or w~thout the Town's approval, or (b) within two years of that date if no preservicing (except preservicing limited to that described in subsections (2)-or (4), or both) has occurred. - 13- (6) The Owner shall gu~antee all wo. rks, workmanship and materials employed or used. in the construct~.on, installation or completion of all works, services and reqmrements under thts Agreement for a period of two years from the date that the works, services and requirements are approved in writing by the Town. 2. DEMOLITION OF EXISTING BUILDINGS All buildings and structures on the Lands and Adjacent Streets shall be demolished by the Owner, at its sole expense, prior to the issuance of any building permit. 3. DWELLING UNIT COUNT (1) In the event that more than 78 dwelling units are to be constructed on the Lands pursuant to this Agreement, an amendment to this Agreement shall be required. (2) In the event that less than 78 dwelling units are to be constructed on the Lands pursuant to this Agreement, the amounts payable to the Townpursuant to sections 17, 27 and 30 shall be pro-rated accordingly by the Town without an amendment to this Agreement. 4. CONTRIBUTION TO ADJACENT SERVICE COSTS The Owner shall, prior to the registration of this Agreement, pay to the Town the sum of $12,691, being the estimated cost to it of the future construction and installation by it of street lighting and sidewalk on the west side of Altona Road adjacent to the Lands. 5. CONTRIBUTION TO DOWNSTREAM SERVICE COSTS The Owner shall, immediately prior to the registration of this Agreement, pay to the Town the sum of $13,446.50 as its contribution to the cost of the acquisition, construction and maintenance of Stage 2 of the Petticoat Creek Stormwater Detention Pond, to be located in Lot 32, Concession 1, Pickerin. g, together with the necessary easements and rights-of-way for vehicular and pedestrmn access thereto from Altona Road. The amount set out in section 4, above, is effective as of January 1, 1990, and is subject to adjustment July 1, 1990, in accordance with the Southam Construction Cost Index, Ontario Series, Composite Portion. The amount set out in section 5, above, is effective as of September 1, 1988, and is subject to adjustment to date of payment, in accordance with the Southam Construction Cost Index, Ontario Sedes, Composite Portior~ 14- 1. FUTURE CONTRIBUTIONS TO QVERSIZING COSTS (1) In the event that the storm water drainage and management system required by the Town to be constructed by the Owner pursuant to the provisions of section 10 of this Agreement is to be of a larger capacity, in whole or in p. art, than necessary to service the Lands and the Adjacent Streets, then the provisions of this section shall apply. (2) Within 60 days of the verification by the Town's Director of Public Works, of the satisfactory completion of the storm water drainage and management system, or any part thereof, as the case may be, as provided for in section 19(3) of this Ag.reement, the Owner's Consulting Engineer shall provide to the Town, in a form satisfactory to the Town, (a) a detailed summary of the Owner's actual cost of the design and construction of the required storm water drainage and management system, excluding lateral connections but including the costs of acquisition of lands outside the Lands and the Adjacent Streets; and (b) a detailed estimate of the Owner's probable cost thereof had the system been required by the Town to service only the Lands and the Adjacent Streets. (3) Within 30 .days of the receipt by the Town of the summary and estimate referred to in subsection (2), in a form satisfactory to the Town, the Town Manager shall determine and not/fy the Owner in writing of the following: (a) the area of the lands outside the Lands and the Adjacent Streets, if any, that the storm water drainage and management system shall be deemed to service for the purposes of this section (the "external lands"); (b) the portion of the Owner's actual c.ost, referred to in subsection (2), that the Town shall deem to be apph. cable to the external lands for the purposes of this section (the "oversizmg cost"); and (c) the amount of the oversizing cost that the Town shall deem to be applicable to each hectare of the external lands (the "per hectare oversizing cost"), and that determination shall be final. (4) In the event that the external lands, or any part thereof, are to be develop.ed by plan of subdivision, plan of condominium or any other method requiring a development agreement, then the Town shall endeavour to ensure that the owner thereof pays to the Owner herein, .prior to the development of those lands, all or an appropriate portion of the overslzing cost, (a) calculated according to the gross area immediately prior to development of the external lands to be developed and the per hectare oversizing cost, and (b) adjusted annually, for a m~imum of five years from the date of the notification referred to in subsection (3), above, according to the Southam Construction Cost Index for Ontario, composite portion. (5) In consideration of the Town entering into this Agreement with this section included, the Owner hereby, (a) remises, releases and forever discharges, and (b) agrees to indemnify and save harmless, - 15- the .T.own, its officers and employees and their respective heirs, executors, adrmmstrator, s, successors and assigns, of and from ali actions, causes of a.ction, accou, nts, clm .ms, debts, damages, demands, and costs assooated therewith, arising, to arise or which may hereafter be brought against them, or any of them, by or on behalf of the Own?, or any other person, because of the provisions of this section or any..error, ormssion, failure or negligence in the application thereof, and re.cogmz~ng that the provisions of the Development Charges ~Z~ct, 1989 may render th~s section of this Agreement null and void and of no effect and may preclude the Town from endeavouring to ensure or from attempting to endeavour to ensure that the payments referred to in subsection (4) are made. - 16-