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HomeMy WebLinkAboutBy-law 808/78THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NUMBER 808/78 Being a By-Law to authorize the execution of an Agreement between the Corporation of the Town of Pickering and Reed Lumber Company Limited respecting Part Lot 18, Range 3, Broken Front Concession (Parts 2 and 3, Plan 40R-3158) WHEREAS the Corporation of the Town of Pickering and Reed Lumber Company Limited entered into an Agreement of Purchase and Sale dated August 16, 1976 respecting the sale, upon certain terms and conditions, by the Corporation of the Town of Pickering to Reed Lumber Company Limited, of that Part of Lot 18, Range 3, Broken Front Concession, designated as Part 3, Plan 40R-3158; AND WHEREAS the Corporation of the Town of Pickering and Reed Lumber Company Limited entered into an Agreement dated July 13, 1976, respecting the granting by the Corporation of the Town of Pickering to Reed Lumber Company Limited, upon certain further terms and conditions; 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 the Corporation of the Town of Pickering and Reed Lumber Company Limited, amending the pro- visions of an Agreement dated August 16, 1976 and a further Agreement dated July 13, 1976, respecting that part of Lot 18, Range 3, Broken Front Concession designated as Parts 2 and 3 on Plan 40R-3158. By-Law read a First, Second and Third time and finally passed this First day of May , 1978. Clerk SCHEDULE "A" to By-Law Number 808/78 THIS AGREEMENT made in duplicate this day of BETWEEN: THE CORPORATION OF THE TOWN OF PICKERING hereinafter referred to as the "Vendor", OF THE FIRST PART, -. and - REED LUMBER COMPANY LTD., hereinafter referred to as the "Purchaser", OF THE SECOND PART. WHEREAS the Vendor and the Purchaser entered into an Agreer.,ent of Purchase and Sale, dated August 16, 1976 (a copy of which is attached hereto as Schedule 1) respecting the sale by the Vendor to the Purchaser of that part of Lot 18, Range 3, Broken Front Concession, Town of Pickering, designated as Part 3 on Plan 40R-3158; AND WHEREAS the said Agreement provided, inter alia, that: (a) the Vendor grant to the purchaser the sole and exclusive option to purchase that part of the said Lot designated as Part 2 on Plan 40R-3158, in accord- ance with the terms and conditions of an Option Agreement, dated July 13, 1976, between the Parties hereto (a copy of which forms part of Schedule 1 hereto); and further, that (b) the Purchaser erect on the lands con- veyed and the optioned lands a build- ing or buildings having a total gross floor area of 50,000 square feet to be completed on or before May 15, 1978; AND WHEREAS it is now deemed expedient to: (a) amend the terms and conditions of the said Option Agreement; and (b) extend the time limit for the erection of the said building or buildings; upon certain terms and conditions; NOW THEREFORE THIS AGREEMENT WITNESSETH THAT, in consid- eration of the benefits and covenants hereinafter expressed, and the sum of two dollars ($2.00) paid by each Party to the other, receipt of which is hereby by each acknowledged, the Parties hereto hereby covenant and agree as follows: - 2 - 1. The lands affected by this Agreement are more particu- larly described as follows: All and singular that certain parcel or tract 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 18, Range 3, Broken Front Concession, designated as Parts 2 and 3 on a Plan of Survey of Record registered in the Registry Office for the Registry Division of Durham as Plan 40R-3158. 2. Section 8:01 of the Agreement of Purchase and Sale, dated August 16, 1976, between the Parties hereto is hereby amended to provide as follows: The Purchaser covenants that it will erect on the real property and the optioned lands a building or buildings having a total gross floor area of 50,000 square feet to be com- pleted on or before May 15, 1981. 3. All other provisions of the said Agreement of Purchase and Sale shall remain the same and time is to continue to be of the essence thereof. 4. Section 3 of the Option Agreement, dated July 13, 1976, between the Parties hereto, which option Agreement is attached to the aforesaid Agreement of Purchase and Sale as Schedule "B" thereto, is hereby amended to provide as follows: The option hereby granted shall be open for acceptance by the Purchaser up to but not after September 30, 1980 and may be accepted by a letter delivered personally or by pre- paid ordinary mail addressed to the Vendor at the following address: Municipal Building, Pickering, Ontario. j, 5. All other provisions of the said Option Agreement shall remain the same and time is to continue to be of the essence thereof. 6. (a) In order to compensate the Vendor for realty and business taxes which it may otherwise have earned, had the aforementioned building or buildings been erected within the time limited by the Agreement of Purchase and Sale dated August 16, 1976, the Purchaser agrees to pay to the Vendor the following amounts on the dates indicated: (i) $19,600.00 on or before May 15, 1978; (ii) a further $21,550.00, on or before May 15, 1979; and (iii) a further $23,700.00, on or before May 15, 1980. - 3 - (b) If the Purchaser completes the erection of the building or buildings required to be erected by section 8:01 of the said Agree- ment of Purchase and Sale, as amended here- by, and in addition, exercises its option to purchase granted by the said option Agreement, as amended hereby, on or before May 15, 1979, then the payments otherwise required to be made on May 15, 1979 and on May 15, 1980 shall not be payable. (c) If the Purchaser completes the erection of the building or buildings required to be erected by section 8:01 of the said Agree- ment of Purchase and Sale, as amended here- by, and in addition, exercises its option to purchase granted by the said option Agreement, as amended hereby, on or before May 15, 1980 but after May 15, 1979, then the payment otherwise required to be made on may 15, 1980 shall not be payable. (d) Subject to the provisions of subsections (b) and (c) hereof, if any payment re- quired to be made under the provisions of subsection (a) hereof is not made on or before the due date for payment, then in that event the Purchaser shall be deemed to have breached the provisions of section 8:01 of the said Agreement of Purchase and Sale and the option granted by the said Option Agreement shall be deemed to have expired, notwithstanding the provisions of sections 2 and 4 hereof. (e) Nothing in this section shall relieve the Purchaser of its obligation to erect the building or buildings required to be erected by section 8:01 of the said Agree- ment of Purchase and Sale, as amended hereby. 7. Time shall be of the essence hereof. 8. The provisions of this Agreement shall enure to the benefit of and be binding upon the Parties, hereto, their successors and assigns. IN WITNESS WHEREOF the Parties hereto have hereunto affixed their respective corporate seals. SIGNED, SEALED & DELIVERED THE TOWN OF PICKERING C REED LUMBER COMPANY LTD. 1:00 OE'FhITO PURCHASE 1:01 REED LUMBER COMPANY LTD., (hereinafter referred to as the "Purchaser") hereby offers to purchase from THE CORPORATION OF T11E TOWN OF PICKERING (hereinafter referred ?I to as the "Vendor") through S.SORBARA REAL ESTATE INC., (hereinafter referred to as the "Agent") the lands in the Town of Pickering, being that Part of Lot 13, Range 3, Broken Concession shown outlined in red on the sketch attached hereto as Schedule 'A' (hereinafter referred to as the"real property"). 2:00 DEVINI'TIONS 2:01 The Corporation of the Town of Pickering is II hereinafter referred to as the "Municipality". 3:00 PRICE; 3:01 Within thirty days after the acceptance hereof the Vendor shall deliver to the Purchaser an up-to-date it survey prepared by an Ontario Land Surveyor showing the q dimensions and the respective areas of the real property and the lands outlined in green on Schedule W. The lands outlined in green on Schedule 'A' are hereinafter referred to as the "Optioned Lands". 3:02 The purchase price for the real property shall be computed at the rate of $47,000.00 per acre and shall be payable as follows:- (a) $10,000.00 herewith as a deposit by cheque payable to the Agent to be held by such Agent pending completion or other termination of this agreement and to be credited on account of the purchase price on closing; (h) The balance of the purchase price by certified cheque on closing subject to adjustments. 4:00 CONDITIONS ?I 4:01 Subject to the Purchaser's right of waiver, the within agreement is conditional upon satisfaction of the following:- (a) That the area of the real property is approximately 10 acres and the total area of the real property and the optioned lands does not exceed 15 acres; (b) 'T'hat on closing the real property and optioned lands are zoned to permit their use as a lumber yard and for the sale of building materials and components and that 1( such zoning will permit outside storage; J" (c) 'T'hat within 6 months after notice from the Purchaser, the Vendor_ will complete the construction and installation of the following services and facilities:- (i) A paved road with curbs dedicated as a pu1slic highway running from Brock Road to the real property as shown outlined in yellow on Schedule 'A' hereto; (.ii) sanitary sewers, storm sewers and water available at the property line adjacent to the proposed road mentioned in the preceding subclause, it being understood that the Purchaser shall bear the cost of the Municipality's connection charges for such services; (d) That the purchase price includes all levies, imposts and local improvement charges; (e) That building permits will be available within 60 days after service of the notice mentioned in Clause 9:01 (c) hereof upon payment only of connection charges mentioned above and the usual building permit fee; i? (f) That at any time after_ acceptance hereof the Purchaser and persons authorized by it shall have the right to enter on the real property for the purposes of surveying and/or conducting soil tests at its own expense. 7n the event that the soil tests with respect to the whole or any portion of the real property do not prove satis- factory to it, then the Purchaser may at any time prior to closing declare this agreement null and void. If the Purchaser declares the agreement null and void then all- monies theretofore paid shall be returned to the Purchaser without interest or deduction; Any one or more of the foregoing conditions may be waived in whole or in part in writing unilaterally by the Purchaser at any time, but in the event that any one or more of the foregoing conditions is unfulfilled in whole or in part on or before closing, the Purchaser shall have the right at its option to declare this agreement null and void and the deposit shall thereupon forthwith be returned to the Purchaser without interest or deduction. 5:00 CLOSING 5:01 The within transaction shall be completed on the 15th day of September, 1976. 1, 6:00 UPTION 6:01 In consideration of the sum of ONE DOLLAR ($1.00) paid by the Purchaser to the Vendor (the receipt of which is hereby acknowledged) the Vendor hereby grants to the Purchaser the sole and exclusive option to purchase the optioned lands in accordance with the terns and conditions of the option agreement- attached hereto as Schedule 'G'. 7:00 TITLE 7:01 Provided that the title is good and free from all I ?I P I encumbrances, easements and restrictive covenants except as herein provided. The title is to be examined by the Purchaser at the Purchaser's expense and the Purchaser is not to call for the production of any title deeds or abstracts of title, proof or evidence of title or to have furnished any copies thereof other than those in the Vendor's possession or under its control. The purchaser shall be allowed until closing to investigate the title and if within that time the Purchaser shall furnish the Vendors in writing with any valid objection to the title which the Vendors shali be unable or unwilling to remove and which the Purchaserwill not waive, this agreement shall be null void and the deposit monies and any further payments on account of the purchase price shall be returned without deduction and without interest and the Vendor shall not be liable for any costs or damages. Save as to any valid objection so made within such time, the Purchaser shall be conclusively deemed to have accepted the title of the Vendor. 7:02 The Vendor covenants to register discharges and releases of any and all encumbrances, easements and restrictive covenants registered against the real property except as herein provided. 1? 8:00 CONSTRUCTION 8:01 The Purchaser covenants that it will erect on the real property and the optioned lands a building or buildings having a total gross floor area of 50,000 square feet to be completed within 18 months from the closing of this trans- action. in)Lil i-11It itIiiurit oJ: th(I 'cc) vennnt con taIncd in Clause 8:01 8:02 The Purchaser agrees that/it will not re-sell the real property or any part thereof without the Vendor's consent. If the Vendor's consent is not granted within 30 days after it has received a request therefor the Vendor shall re-purchase the lands in question from the Purchaser at the Purchaser's cost without interest. The re-purchase by the Vendor shall be completed 60 days after receipt by the Vendor of a request for consent to a proposed sale and on closing the Purchaser shall convey title free and clear of encumbrances created while Recd LunS er Con.uany Ltd., is the owner. 9:00 RESTRICTIVL COVENANTS 9:01 The Purchaser covenants that the real property shall be subject to the covenantscontained in Schodule'C' hereto for a period of 20 years from closing. 10:00 TENDER 10:01 Any tender of docments or money herein may be made upon or paid to the Vendor or the Purchaser, or their respective solicitors, and any monies paid or tendered shall be by cheque certified by a chartered bank or trust company. 11:00 TIME 11:01 Time shall be of the essence hereof. 12:00 NOTICE 12:01 Any notice required or contemplated by any provision of this agreement which either party may desire to give to the other shall be sufficiently given to the Purchaser or its solicitor by personal delivery or by postage prepaid, ordinary ii jz ?i 12:01 (Continued) mail addressed to the Purchaser c/o Minden, Gross, Grafstein & Greenstein, 111 Richmond Street West, Suite 607, Toronto, Ontario, MSH 2II5, and any notice to be given to the Vendor shall he sufficiently given by personal delivery or by postage prepaid, ordinary mail addressed to the Vendor at The Corporation of the 'T'own of Pickering, 1710 Kingston Road, Pickering, Ontario, L1V 1C7, and all such notices shall be effective as of the date of such personal delivery or as of the date being one day (excluding Saturdays, Sundays and holidays) following such posting as the case may be. 13:00 ADJUSTMI,NTS 13:01 Realty taxes shall be adjusted and apportioned as of the closing date. 14:00 PION-MLRGL:R AND SUCCESSION 14:01 The provisions of this agreement shall remain binding and effective notwithstanding closing of the within transaction and/or delivery of a conveyance or conveyances and shall enure to the benefit of the parties hereto, their successors and assigns. ? 15:00 ACCEPTANCE ; Purchaser 15:01 This offer shall be irrevocable by the gea cxi / 17th until the 3911 day of August, 1976, after which time if not accepted the offer, shall be null and void. DATED at Pickering, this An day of August 1976. II III i THE CORPORATION OF TEE TOWN OF PICKERING I yor --- I?c7ininistrntor-Clerk REED LUMBER COMPANY lAgL , hereby accepts the above offer and agrees to fulfill and be bound by the terms and conditions thereof. DATED at Toronto, this 13th day of August 1916. REED LUMBER COMPANY LTD, -- i? Par: 01"PION DIliNOLAN'l)UN OF ACRhK?i1LNT made this 13Lh day of July, 1976. 13 E T W L E N : lIE: CORPOPAITUN OF WE TOVKj OF DICKERING; -hereinafter referred Lo as thc- "Vendor" OF THE FIRST PART: - and - REED LUMPUR COMPANY LIU., -horoinafCar referred to as Lhe "Purchaser'' OF TilL SECONI) PAPT: 1. In consideration of the sum of WN DOLLARS ($10.00) paid by the Purchaser to the Vendor (the receipt of which is hereby acknowledyed) the Vendor hereby yranLS to tLe Purchaser the sole and exclusive option irrevocable within the Lime for acceptance herein limited, to purchase Lhe lands in Lhc Town of Picherir:q consistiny of that; ;:art of LoL 13, Rangc 3, Broken Front Concession shown outlined in green on the sketch nLtached ncreLo and marked Schedule 'h' (hereinafter referred to as Lhe "optioned lends"). 2. (a) Within 30 days after the Pn ch.inpr's acceptance of the within option Lhc Vendor shall dc)_ivcr Lo Lhe Purchaser "n urn-to-date survey prepared by an Ontario Land Surveyor :<WWWq the dwcn:.ions and area of the optioned lands; (b) The purchase price for the optioned lands Shall be computed at; the rate of $41,000.00 per acre and shall be payable as follows :- (i) $10,000.00 by cheque to We Vendor upon a(:crl,t alit" of the opt i.on as r1 dcp')r;i t t-o be held by Lhr Vendor t end i n't romp l e t i.on or other LrrminaLion of the agicemont arinln' out of Lhe acceptance of We opn on hereby grant-rd; (ii) The r.,nn of $10.00 paid to th.c Vendor as consi?;eraCicn? for the qr nLin<; of Lhis upt_i_on as 4"11 as thin s,un tail upon the acceptance of this option shall he J\/ V Credi1.d to the PaI,_,I a sC t- aIn,1 al LC) I *s pnI t_ of Lhe pu1-ch.icc III, ?ne",; (iii) The balance of the i:urChasO PrWO shall be payaW e by certified chcyue on closing subject to adjustments. 3. The op LLon hereby yranLed sha11 he open for acceptance by the Purchaser up to but not after the 15Lh day of Septewher, 1977, and may be accepted by a letter personally cicliverud or by postage prepaid ordinary aail addressed Co the Vendor. aC 1710 Kingston Road, Pickeriny, Ontario, WV LC7. 4. The agreement arising out of the acceptance of this option shall be conditional upon fulfill;u" L of the following subject to the Purchaser's unilateral right of waiver: (a) ThatL on closing Lhc opl-toncd lanW; arc zoned Lo pnj mi t_ t_he i r uqo as a lumber yard and for thn sale of building materials and cowponpnts and that such zoning wf.ll permit outside storage. (b) ThaL on closing all services and ,acilivian as required by Lho Municipality and ah7 WWI- yo- ornmentat apt h"ri ty will be available to service the binds. (c) Thai building porm.ith will he avail- able within six months aAo r closing upon lwywenL only of the Municipality's: usual connac(i_on charges Lo services and the usual building hermit fee. (d) That Hie purchosr l);iscludrr all. levies, imposts and local improvement- charges. (c) That at any time after acceptance hereof the Purchaser and persons authorized by it shall have the right to enter on tho opt-i.oned hinds for We purposes of surveying and/or conductinq soil tots aL ifs own ex1)uI s?_ . In the event that thn soil Lest. with respect to the whole or any portion of the optioned lands do noL Drove satis- factory to i1:, New the Purchaser may at any time pricer to closing declare titi agreai,iCI t nul l and void. l1_ the Purchaser dacl,IIes LhC adICerlout - I'll l_l and void then all W(nua s 1heretalorr paid slit II he ro',alred to We Purchaser wiLhouL inLurest- or deductt.on. Any one or more of Lhu foreyoinq conditions may be waived in whole or in ,hart in writing unilat-eral.ly by Lhe Purchaser at any Lime, but in Lhe event that any one or wore of the foregoing u("Id it i qua: is un fu I f i l led in MUM, or ill Part on or before closing, Ihn Porrhasor shpl_l havc the ri_OL at it s opti on to declare t his, aq! ( -!'' :1; nul.l. on: vnid _Ill the t n;hs 11 thereupon forthwith he returned to Lilt Pur(h:ts,,i withonl. i_ntt,r est or deduction. 5. '.hr w ithin transaction shall be completed sixty days after acceptance of the option hereby _trant_od. 6. Provided encumbrances, easement-s provided. The t.iOu is Purchaser's expense and production oIT any title evidence of title or to those in the Vendor's p that Lhc title is good and free from all and restricLi.ve covenants except as herein to he examined by We Purchaser at the Lho Purchaser is not- Co call for the deeds or abstracts of Mle, proof or have furnished any copies thereof other than )ssession or under its conCrol. The i'urcilaser shall be allowod unt I. closing to investigate the title and if within Lhat time the Purchaser shall furnish the Vendor in writing with any valid objection to the title which the Vendor rhall be unable or unwilling to remove and which the Purchaser will noL waive, this agreement- sha11 he null and void and the dehonit moneys and any further payments on account- of the purchase price shall he returned without deduction and without interest and the Vendor shall not he liable for any costs or damages. Save as to any valid objection so made ,.iLhin such Lime, the Purchaser shall be concLusively deemed to have accepted tip' title o'. the Vendor. The Vendor covenants to register discharges and releases of any and all encumbrances, easements and restrictive covenants royisterpd against the optioned lamas cr:cept as herein provided. 7. The Purchaser covenants that the Ol)LiOaed lands shall be subject to the covenants contained in Schoduie 'C' hereto for a period of 20 years Isom closing, 8. This agin,cmont is subject to cempiiance with section 29 of The Plaulinq Act_. The Vendor will take all ssLeps to obtain the consent of Lhe Committee of Adjustment to this agreement and the conveyance to he deli_vared P" sung horcto, if such consent: is required. i at any time aI for Lhe d.lec here() I and prJo1. 1 September 15, 19£;1 I_hc Vendor veccivan a bona Cide oLfor to purchase or lease the optioned lands which the Vendor is willing to accept ("tile third party offer"), then the Vendor shall forthwith deliver to the Purchaser a copy of the third party offer and the Purchaser shall hove the right to Purchase or ].case, as the case may be, the OpLioncd lands from the Vendor on the terms and conditions containrci in tic third party o:lcr by delivering to the Vendor its w-Elton olfor ("the maLuM nq offer") together with the appropriate deposit (if a deposit is payable) Within seven days after the Purchaser's receipt- of a copy of the third party offer. If the Purchaser delivers the maLchinq offbi: as aforesaid, then the Vendor shalt sell Cho optioned loners to the Purchaser pursuant to the matching offer and shall reject the third party offer. If the Purchaser fails to deliver Lilo :notching offer within the time Ihiatted, then the Vendor shall accept the third party offer and provided the sole is completed to Cho third Party the Purchaser's rights agaiinso the Vendor and Ue optioned lands shall cease; if the sale to the third party is not Completed then the Purchaser's right of first refusal hereunder shall continue until extinguished unuer the terms hereof. 11. Any tundur of documents or money herein may bu :nacre upon or paid to the Vendor or the Purchaser, or their respective solicitors, and any moneys paid or tenderer] shall be by cheque certified by a chartered bank or trust company. 12. Any notice required or contcmpLaLod by any provision of this agreement which either party may desire to give to the other shall he sufficiently given to the Purchaser or its solicitor by personal delivery or by postage prepaid, ordinary nail addressed to the Purchaser c/o Minden, cross, Graintoin N Greenstein, 111 Richmond Street Nest, Suite 607, Toronto, Or.tari-o, MH 2115, and any noi_ice to hV Alivon to the Vendor 55aLL he suCf cienl. y given by prrsoirot delivery or by postayc prupaLd, ordinary mail addressed :o the Vendor at 1710 ..'nilston pond, Picker.-inq, Ontario, LIV 1C7, and X li such notices sk:. I he OKOWLt:c o: nhe 6nte of such personal dnlivury or as of tho KaLC bcinq ona day (exciuding Saturdays, Sundays a"A holidays) Collowinu such hosting as the case may be. 13. RC ILty Luxes shall he adjusted an?i apporti.cnned as of the closing date. 14. The provisions of this ay rcomanL shall rem.in binding and effective noWitlistanding closmy ol. the within transaction and/or delivery of a conveyance or convcyanccs and shall enure to the benefit of the parties hereLo, their successors and assigns. 15. On cIusi.ny Lhc vendor shall deIi.ver Lo the Purc'naser a iien clearance cartiLicate pursuant- Lo Tho Lang: SpecuLaLion 'l'ax Act with respect to the optioned lands Lor Lhe purposu< of Chis transaction. DATED aL Toronto, this day oL Auqust, 1976. TIIL; C??RI'ULt?I `C LUN UI. '1'11c; TUNN CF PIMER I NG, r ? . j Per: C/S I 'lam ?I ?I SCIIEDU__1 'C' RIiSTIt1CTIV1.; COVJ NANTS 1. The real property shall be uscd only for the purposes permitted under the restricted area by-law in effect from time to time. 2, too building permit will be applied for nor will any building(s) be erected on the real property until a site plan displaying the following information has been approved by the Town: (a) Location of proposed building(s); (b) Ileight of proposed building(s); (c) Elevations of the proposed building and types and colour of exterior material of the front and other walls, including one potential expansion wall; (d) Location of entrances and exits to abutting roads; (e) urea and location of land to be used for offstreet parking; (f) Use of all lands not covered or to be covered by bui.ldi.ng(s), including areas to be seeded or sodded; (g) TI)e gradin(.I of the real property and adjacent Town Boulevard and provision for storm and sanitary drainage and water services; (h) Location of all hydro electric power and gas mains; (i) Design and location of any company and/or product identification sign or signs. (j) Locations of proposed entrances and exits to buildings; (k) Proposed landscaping features; (1) Locations and types of all exterior lighting fixtures and standards; (m) Locations and types of all proposed fencing Upon approval of the said site plan by the Town, the proposed building(s) and other works shown on the said plan will be erected in conformance with the said site plan; the exterior of any building to be erected shall be completed within 12 months from the date of the approval of the site plan or it shall be deemed to be null and void. No building waste or otho r_mater.ial of any kind shall be dumped or stored on the real property except clean earth; and the real property shall be kept in a neat and tidy condition during the course of construction to such reasonable standards as the Town iJ may request. r. 9. The seeding or sodding in accordance with the said site plan shall be completed within six months of the completion of the building(s) shown on the said site plan. 5. No hydro sub-stations or transformers will be erected in the front, yard, or in the sideyal:d, between the flank wall of a building erected on a corner_ lot and the streetline on which such corner lot has flankage. 6. Paved areas shall not constitute more than 503 of the front yard (that part of the yard lying between the front wall of a building and the travelled portion of the street including 25 foot side yards), or in the sideyard between the flank wall of a building erected on a corner lot and the edge of the travelled portion of the street on which such corner lot has flankage. 7. No building(s) will be erected or maintained having exposed ductwork, air conditioning units, cooling towers, tanks or similar installations unless the same have first been approved in writing by the Town. 8. Any proposed expansion wall shall be kept painted in a colour closely resembling the other walls; structural steel and reinforced concrete framing shall be suitably finished for appearance and protection and all driveways, parking and loading areas shall be paved encopt in rear yards. 9. Garbage shall be kept and disposed of in a sanitary manner and none shall be placed in or allowed to enter any stream flowing through the real property. 10. Any building which shall have been, in whole or in part, destroyed by fire, lightning or tempest, shall either be rebuilt forthwith or all debris removed and the lot restored forthwith to a sightly condition in keeping with neighbouring properties. i. ? i' - 3 11. The land between the Owner's property line and the travelled portion of the road allowance shall be landscaped and maintained to the satisfaction of the Town. 12. The Purchaser shall obtain a covenant from any subsequent Purchaser agreeing to abide by the foregoing restrictions for a period of 20 years from the date of closing of the within transaction. 13. The Vendor agrees that any approvals or consents to be given by it under these restrictions shall not be un- reasonably withheld or delayed. t ror ?3 rr 0 Cnr£ xo? rm nn xo ?J r- r- ro pro rn P. (t 0 O O X ?l ?:s (D a 0 ?• H O Q ~ C o a M M z H N M d r c 3 tv M n 0 b ?Z ?C r H d N 7 a I H x M n O 00 roH H H nO xz t] O z L7 H x M H _ 0 d H M d