HomeMy WebLinkAboutBy-law 4105/92 THE CORPORATION OF THE TOWN OF PICKERING
By-LAW NO. 4105/92
Being a by-law to authorize the execution of an
Agreement to renew, for the period September 1, 1992 to
August 31, 1994, the Lease dated August 26, 1976
between the Municipality of Metropolitan Toronto and
the Corporation of the Town of Picketing respecting
Part Lot 12, Concession 5, Pickering (Museum Parking
LoO.
WHEREAS pursuant to the provisions of sections 19t and 207.57 of the Municipal Act, R.S.O. 1990,
chapter M.45, the Council of the Corporation of the Town of Picketing deems it desirable to renew, for
the period September 1, 1992 to August 31, 1994, the Lease dated August 26, 1976 respecting part of
Lot 12, Concession 5, Pickering from the Municipality of Metropolitan Toronto for museum parking
purposes;
NOW THEREFORE, the Council of The Corporation of the Town of Picketing HEREBY ENACTS AS
FOLLOWS:
1. The Mayor and Clerk are hereby authorized to execute a Lease Renewal Agreement dated July
21, 1992, renewing, for the period September 1, 1992 to August 31, 1994, the Lease dated
August 26, 1976 respecting that part of Lot 12, Concession 5, Pickering more particularly
described therein, between the Municipality of Metropolitan Toronto and the Corporation of
the Town of Pickering for museum parking purposes, which Lease Renewal Agreement shall
be in the form attached hereto as Schedule A.
BY-LAW read a fJxst, second and third time and finally passed this 19th day of October, 1992.
Wayne Art. s, Mayor
PICKERING Bruce Taylor, Clerk
APPROVED
AS 10 FORM
LEGAL DEPT.,
Schedule A
THIS INDENTURE OF LEASE RENEWAL made in quadruplicate this 21st day of July, 1992,
IN PURSUANCE; OF THE Short Forms of Lease's Act
BETWEEN:
THE MUNICIPALITY OF METROPOLITAN TORONTO
~ (hereinafter called the "Landlord")
~ OF THE FIRST PART
.~ - and -
..s (hereinafter called the "Tenant")
OF THE SECOND PART
WITNESSES THAT:
WHEREAS by Indenture of Lease dated thc 26th day of August, 1976, (hereinafter called the "1976
Indenture..) the Landlord leased to the Tenant the real property in the Town of Picketing in the Regional
Municipality of Durham, consisting of that part of Lot 12, Concession 5, more particularly described therein
(hereinafter called the "Leased Area"), for parklng'purposes for a term expiring the 31st day of August, 19~1;
AND WHEREAS by Indentures of Renewal oI Lease dated the January 16, 1984, October 3, 1986, July
19, 1989 and August 8, 1990, the parties documented the renewal of the term for terms expiring the 31st day of
August, 1992;
AND WHEREAS the parties hereto are desirous of extending the Tenant ' s tenancy of the Leased Area
for a renewal term of two (2) years commencing the 1st day of September, 1992, on the terms and conditions
hereinafter set out;
IN CONSIDERATION OF the mutual covenants herein contained, the parties hereby agree as follova:
1. Thc Tenant' s tenancy of ~.hc Leased Arco is hereby extended for a renewal term of TWO (2) YEARS
commencing on thc 1st day of September, 1992, and expiring on the 31st day of August, 1994, on the same terms
and conditions aa those set out in thc 1976 Indenture, as amended, except that the rental rate shall be FOUR
HUNDRED DOLLARS ($400.00) per annum payable in advance on the 1st day of September in each year of
the term, commencing on the 1st day of September, 1992:
2. The 1976 Indenture as amended, shall continue in full force and effect except as othervAse se~ out
herein.
-2-
3. This Indenture shall chute to the benefit of and be binding upon the partita hereto and their respective
successors and (where applicable and permitted) assigns.
IN WITNESS WHEREOF the parties hereto have executed this Indenture under seal.
SIGNED, SEA[.~D AND DELIVERED THE MUNICIPALITY OF
METROPOLrYAN TORONTO
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