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HomeMy WebLinkAboutBy-law 2595/87THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 2595 /87 Being a by-law to authorize the execution of an amendment to the Development Agreement dated February 14, 1986, respecting Part Lot 60, Plan 509, Pickering (Pickering Square Inc.; A 54/86) WHEREAS, on February 14, 1986, the Council of The Corporation of the Town of Pickering enacted By-law 2203/86 autlxorizlng the execution of a Development Agreement respecting Part Lot 60, Plan 509, Pickering; and WHEREAS, on June 15, 1987, the Council of The Corporation of the Town of Picketing passed Resolution 67/87, approving Zoning By-law Amendment Application A 54/86, resulting in certain amendments required to be made to that Agreement; NOW THEREFORE, the Council of The Corporation of the Town of Pickering HEREBY ENACTS AS FOLLOWS: The Mayor and Clerk are hereby authorized to execute an Agreement, in the form attached hereto as Schedule A, to amend the Development Agreement dated February 14, 1986, respecting Part Lot 60, Plan 509, Pickering (Pickering Square Inc; A 54/86). BY-LAW read a first, second and third time and finally passed this 5th day of October, 1987. TOWN OF PICKERING APPROVED .EGAL DEPT. SCIIEDULE A THIS AGREEMENT made this llth day of September, 1987. BETWEEN: THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF THE FIRST PART, - and - PICKERING SQUARE INC. hereinafter called the "Owner" OF THE SECOND PART. WHEREAS by Agreement dated February 14, 1986 (herein called the "Agreement"), made between Richard Zygmunt Feldman, Allan Smoskowitz, Ben Smuszkowicz and The Corporation of the Town of Picketing, the owner therein proposed to develop part of Lot 60 and part of the park lot to the north of Provincial Hwy. No. Z as shown on Plan 509, Pickering, upon and subject to the terms and conditions therein contained; and WHEREAS by Instrument No. D234355 registered November 10, 1986, Picketing Square Inc., the Owner herein, is the successor in title to Richard Zygmunt Feldman, Allan Smoskowitz and Ben Smuszkowicz respecting those lands; and WHEREAS the Town and the Owner want to amend the Agreement upon and subject to the terms and conditions herein contained; NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the sum of $1.00 now paid by each Party to the other, receipt of which is hereby acknowledged, and other good and valuable consideration and the covenants herein contained, the Parties hereto hereby covenant and agree as follows: The Owner acknowledges .and agrees that it is bound by the terms, conditions and covenants contained in the Agreement, as amended hereby. The Town acknowledges receipt from the Owner of the sum of $20,000 pursuant to the provisions of section 5 of the Agreement. 3. The Agreement is hereby amended by adding thereto the following sections: da. (1) On or before June 1, 1988, the Owner shall reconstruct the boulevard on the west side of Valley Farm Road adjacent to the lands to the Town's standards for paved urban road boulevards. (2) As part of the reconstruction of that boulevard, the Owner shall install all necessary storm sewer pipes and appurtenances to provide for the proper drainage of storm water in and along that boulevard. db. (3) (4) (1) (1) (2) (3) As part of the reconstruction of that boulevard, the Owner shall also construct a concrete sidewalk adiacent to the lands from a point opposite the easterly extension of the north boundary of the lands to the existing sidewalk at the intersection of Valley Farm Road and Kingston Road. All works required to be done by the Owner pursuant to this section shall be done, at no cost to the Town, and to the Town's specifications in effect at the date hereof, Before commencing the construction, installation or performance of any of the works provided for herein, the Owner shall supply the Town with a $10,000 performance and maintenance security in a form satisfactory to the Town for the purpose (a) guaranteeing the satisfactory construction, installation or performance of the works; (b) guaranteeing the payment of any amount that the Town may be required to pay under the provisions of the Construction Lien Act, 1983, and (c) guaranteeing all works, workmanship and materials for a period of two years from the date that the works are completed and such completion acknowledged, in writing. by the Director of Public Works. Upon written verification from the Director of Public Works that the construction, installation or performance of the works has been satisfactorily completed and paid for, the security shall secure the guarantee of works, workmanship and materials, until the obligation to guarantee has expired, when the balance of the security shall be returned to the Owner subject to any deductions for rectification of deficiencies. If, in the opinion of the Director of Public Works, the Owner is not prosecuting or causing to be prosecuted the work in con- nection with this Agreement within the specified time, or in order that it may be completed within the specified time, or is improp- erly performing the work, or shall the Owner neglect or abandon it before the completion, or unreasonably delay the same so that the conditions of this Agreement are being violated or carelessly executed, or in bad faith, or shall the Owner neglect or refuse to renew or again 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 performance of the terms of this Agreement, then in any such case, the said Director o£ Public Works shall promptly notify the Owner and his surety in writing of such default or neglect and if such notification be without effect within 10 clear days after such notice, then in that case, the Director. of Public 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 work at the cost and expense of the Owner or his surety, or both. 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. The cost of such work shall be calculated by the Director of Public Works whose decision shall be final. - 2 - Sd. (4) (3) (4) It is understood and agreed that such costs shall include a man- agement fee of 20% of the labour and material value, and further, a fee of thirty per cent 30% of the value for the dislocation and inconvenience caused to the Town 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 is one of the considerations, without which the Town would not have executed this Agreement. Before commencing any other work provided for herein, the Owner shall supply the Town with a Liability Insurance Policy in a form satisfactory to the Town, naming the Town as an insured and indemnifying 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. The amount of the Policy shall be $5,000,000. 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 or renewals within 30 days of the ac- count therefor being rendered by the Town. It shall be the responsibility of the Owner to notify the Town of the dates for the renewal of the premium of the policy and to supply proof that the premium of the policy has been paid in order that the protection provided by the Liability Insurance Policy shall not lapse. IN WITNESS WHEREOF the Parties hereto have hereunto affixed their respective corporate seals, duly attested by their proper authorized officers. SIGNED, SEALED & DELIVERED THE CORPORATION OF THE TOWN OF PICKERING John E. Anderson, Mayor Bruce Taylor, Clerk PICKERING S(~UARE INC. 3 ENCUMBRANCER This Agreement shall have priority over and take precedence over all of the Encumbrancer's rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or inter- est is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at , , 1987 SIGNED, SEALED & DELIVERED SUN-LIFE ASSURANCE COMPANY OF CANADA ENCUMBRANCER This Agreement shall have priority over and take precedence over all of the Encumhrancer's rights or interests, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or inter- est is set out in or arises by virtue of any instrument or document registered on title to the lands affected hereby, or any part of them, prior to the registration of this Agreement. Dated at , , 1987 SIGNED, SEALED & DELIVERED TORONTO-DOMINION BANK -4 -