HomeMy WebLinkAboutBy-law 386/76THE CORPORATION OF THE TOWN OF PICKERING
BY-LAW NUMBER 3 Y,? 7 p
Being a by-law to authorize the execution
of an agreement between the Corporation of
the Town of Pickering and Monarch Marking
System, Limited with respect to the sale
and purchase of Parts 4 and 5, Plan 40R-2638,
Town of Pickering
WHEREAS, pursuant to the provisions of subsection 1 of section
336 of The Municipal Act, R.S.O. 1970, chapter 284, the Council of the
Corporation of the Town of Pickering may pass by-laws for acquiring
land required for the purpose of the Corporation;
AND WHEREAS, pursuant to the provisions of subsection 3 of section
336 of that Act, if it appears that a larger quantity of land than is
required can be more reasonably and more advantageously acquired, the
Council may acquire such larger quantity and may afterwards sell and
dispose of so much of it as is not so required;
AND WHEREAS the Corporation of the Town of Pickering may therefore
acquire for road purposes Parts 4, 5, 6, 7, 8 and 9 on Plan 40R-2638,
Town of Pickering, Part 4 not being required;
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 between the Corporation of the Town of Pickering
and Monarch Marking System, Limited with respect to the
sale and purchase of Parts 4 and 5, Plan 40R-2638, Town
of Pickering.
By-law read a first, second and third time and PASSED in open Council
this IL:k day of 1976.
TOWN 0:= pjCi(',E'r!NG
- ----- ---- -
Mayor
Administrator-C rk
1
I/ /ti
THIS INDENTURE OF AGREEMENT made as of the 10th day of
March, 1976.
B E T W E E N:
MONARCH MARKING SYSTEM, LIMITED,
hereinafter called "Monarch"
OF THE FIRST PART,
- and -
THE CORPORATION OF THE TOWN OF
PICKERING,
hereinafter called "Pickering"
OF THE SECOND PART.
WHEREAS by a deed dated the 20th day of June, 1973,
and registered on the 24th day of July, 1973, as instrument No.
242333, The Corporation of The Township of Pickering conveyed to
Monarch Part 2, Plan 40-R-1052; and
WHEREAS Part 2 of said Plan 40-R-1052 has subsequently
become by superimposed Plan 40-R-2638, Parts 1, 2 and 3 of said
Plan 40-R-2638; and
WHEREAS The Corporation of The Township of Pickering
has subsequently, by statutory authority, become The Corporation
of The Town of Pickering; and
WHEREAS Monarch and Pickering have entered into cer-
tain subsequent agreements and it is considered that these agree-
ments should be reduced to writing,
NOW THEREFORE THIS INDENTURE WITNESSETH that in con-
sideration of the mutual covenants and agreements hereinafter
contained, the parties hereto hereby agree as follows:
1. Pickering gives to Monarch the irrevocable right of
first refusal to the sale of Parts 4 and 5, Plan 40-R-2638, the
price to be agreed upon at the time of such purchase and sale.
- 2 -
2. In the event that Monarch purchases from Pickering
said Parts 4 and 5, Plan 40-R-2638 then Monarch will forthwith
re-convey free of charge to Pickering said Part 5 which will
be dedicated for road purposes by Pickering.
IN WITNESS WHEREOF the parties hereto have hereunto
executed this agreement under their corporate seals and signed
by their proper officers duly appointed.
MONARCH MARKING SYSTEM, LIMITED
Per:
President
Per:
Secretary
THE CORPORATION OF THE TOWN OF
PICKERING
Per: