HomeMy WebLinkAboutBy-law 2607/87THE CORPORATION OF THE TOWN OF PICKERING
BY-LAW NO. 2607/87
Being a by-law to authorize the execution of an
Option to Repurchase by Her Majesty the Queen
in Right of Ontario as represented by The Minis-
ter of Government Services, that part of Lot 20,
Concession 3, Pickering, designated as Part 2,
Plan 40R-9418 (Works Yard expansion)
WHEREAS pursuant to the provisions of the Municipal Act, R.S.O. 1980, chapter 302,
section 193, The Corporation of the Town of Pickering is acquiring that part of Lot
20, Concession 3, Picketing, designated as Part 2, Plan 40R-9418, from Her Majesty
the Queen in Right of Ontario as represented by the Minister of Government Services
(Ontario Land Corporation), through the Municipality of Metropolitan Toronto, for the
purposes of expanding the Town's Works Yard; and
WHEREAS, it is deemed desirable to give an Option to Repurchase those lands,
subject to certain terms and conditions, to Her Majesty the Queen in Right of Ontario
as represented by The Minister of Government Services;
NOW THEREFORE, the Council of The Corporation of the Town of Picketing HEREBY
ENACTS AS FOLLOWS:
The Mayor and Clerk are hereby authorized to execute an agreement in the
form attached hereto as Schedule A, pursuant to which Her Majesty the Queen
in Right of Ontario as represented by The Minister of Government Services may
repurchase from The Corporation of the Town of Picketing, that part of Lot 20,
Concession 3, Pickering, designated as Part 2, Plan 40R-9418 subject to the
terms and conditions therein set out. (Works Yard expansion).
BY-LAW read a first, second and third time and finally passed this 2nd day of
November, 1987.
ruce ay or,~'~ erg/
86-06 Block
OPTION TO REPURCHASE
THIS AGREEMENT n~de in duplicate on the
198 .
THE CORPORATION OF THE
TOWN OF PICKER[NG
BETWEEN:
-and-
day of
(hereinafter called "The Purchaser")
HER MAJESTY THE QUEEN in right of
Ontario as represented by the
Minister of Government Services
(hereinafter called "M.G.S.")
The Purchaser hereby grants to M.G.S. an option to repurchase the
lands in Schedule "A" upon the following terms:
if The Purchaser wishes to sell the site in Schedule "A" within a
period of three (3) years from the date hereof, without first
having improved the Lands, The Purchaser shall first offer such
site to M.G.S. and M.G.S. has the option of notifying The
Purchaser within 90 days that M.G.S. will purchase the site.
If M.G.S. exercises this option, M.G.S. may purchase the site
within a further 30 days for the price listed in Schedule "A" for
the site, free and clear of encumbrances, and M.G.S. shall not be
responsible for the payment of any interest thereon or any costs
or expenses incurred by The Purchaser.
J
This option shall cease on the site in Schedule "A" upon The
Purchaser having improved the Lands, or upon the expiry of
M.G.S.'s right according to the terms herein.
Upon receiving evidence that The Purchaser has met the conditions
for the option ceasing and upon request, M.G.S. shall within 30
days deliver to The Purchaser a release of this Agreement.
IN WITNESS WHEREOF the parties hereto ha~e signed this Agreement under
seal.
THE CORPORATION OF THE
TOWN OF PICKERING
Per:
.Tohn E. Anderson, Mayor
Per:
~ruceTaylor, Clerk
HER MAJESTY THE QUEEN in right
of Ontario as represented by the
Minister of Government Services
Per:
Authorized Signing Officer
OPTION TO REPURCHASE
SCHEDULE "A"
Municipality Town of Pickerin~
___Regional Municipality of Durham
Block ;
Number S~te Price Per Site
Part of Lot 20, Concession III,
(Geographic Township of Pickering)
shown as Part 2 on Reference
Plan 40R-9418
1 $23,490.00
Total Purchase Price $ 23~490.00