HomeMy WebLinkAboutBy-law 3689/69 THE CORPORATION OF THE TOWNSHIP OF PICKERINO
~Y-LAW NUMBER ,,'~g ~ ~
~eing a ~y-law to authorize the execution
of an Agreement of Purchase and Sale and
all documents required to complete the
sale of a parcel of imdustrial land im Lot
19 in Range 3.
WHEREAS Marb-O-Matic Company Limited, herewith called the
Purchaser, desires to enter into an agreement of purchase a~d
sale for the purchase of a 5.05 acre parcel of industrial land
on the west side of Brock Road in Lot 19, in Ranze 3 of the
To~.~ship of Picketing, at a price of ~6,000.00 per acre.
AND WHEREgS an Agreement has been p~epared providing for
the payment of a deposit of $2,000.00 and payment of a further
$8,000.00 on closins and the giving of a one year first mortgage
for the balance of the p~rcbase prSce, bearing interest at
Der ammum.
AND WHEREAS the said Agreement provides for the reconveyance
of the said lands to the Township, at the option of the Township
in default of the purchasers failin~ to develop the property for
industrial purposes as provided in the said Agreement.
NOW THEREFO[~ THE COUNCIL OF THE CORPORATION OF THE T~'~[SHIP
OW PICKERING E~IACTS AS FOLLOI4S:
1. The Reeve and Clerk are authorized to enter into an Agreement
of Pnrchase and Sale w~tb Marb-o-Matic Company L~mited, herein
called the Purchaser, for a 5.05 acre parcel of land in Lot 19,
Range 3~ on the west side of Brock Road, at a price of $6,000.00
per acre.
2. The Reeve and Clerk are further authorized to e×ecute a
Deed and all other documents necessary to complete t~ sale
the said property tn Marb-O-Matic Company Limited, or to such
companM as the Purchaser in writin~ directs.
READ a First, Second and Third time and PASSE]) this /~ ~ day
of _~ .__, lo69.