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HomeMy WebLinkAboutBy-law 2041/85TilE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 2041 /85 Being a by-law to authorize the execution of an Agreement of Purchase and Sale respecting the sale by the Corporation of the Town of Pickering to Tonalist Holdings Inc. part Lot 26, Concession 1; part Lot 26, Range 3, B.F.C.; part road allowance between Concession 1 and B.F.C., Lot 26; part road allowance between Lots 26 and 27, Range 3, B.F.C.; part intersection road allowance between Concession 1, B.F.C., Lot 27 and road allowance between Lots 26 and 27, Range 3, B.F.C., Picketing. WHEREAS the Corporation of the Town of Picketing is the owner of a parcel of land comprising part Lot 26, Concession 1; part Lot 26, Range 3, B.F.C.; part road allowance between Concession 1 and B.F.C., Lot 26; part road allowance between Lots 26 and 27, Range 3, B.F.C.; part intersection road allowance between Concession 1, B.F.C., Lot 27 and road allowance between Lots 26 and 27, Range 3, B.F.C., Pickering; and WHEREAS such parcel is no longer required for municipal purposes; 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 of Pur- chase and Sale, in the form attached hereto as Schedule A, between the Corpo- ration of the Town of Pickering and Tonalist Holdings Inc. respecting part Lot 26, Concession 1; part Lot 26, Range 3, B.F.C.; part road allowance between Concession 1 and B.F.C., Lot 26; part road allowance between Lots 26 and 27, Ran ge 5, B.F.C.; part intersection road allowance between Concession 1, B.F.C., Lot 27 and road allowance between Lots 26 and 27, Range 3, B.F.C., Pickering, as shown on the sketch forming part of Schedule A. BY-LAW read a first, second and third time and finally passed this 3rd day of June, 1985. SCHEDULE A AGREEMENT OF PURCHASE AND SALE TONALIST HOLDINGS INC. (herein referred to as the "Purchaser"), having inspected the real property, agrees with THE CORPORATION OF THE TOWN OF PICKERING (herein referred to as the "Vendor"), through no agent, to purchase and the Vendor agrees with the Purchaser to sell (a) a portion of Lot 26, Concession 1, (b) a portion of Lot 26, Range 3, Broken Front Concession, (c) a portion of the road allowance between Concession 1 and the Broken Front Concession in Lot 26, (d) a portion of the road allowance between Lot 26 and Lot 27, Range 3, Broken Front Concession, and (e) a portion of the intersection of those road allowances, all in the Town of Pickering, in The Regional Municipality of Durham, as outlined on the sketch attached hereto and herein referred to as the "real property" upon the follow- ing terms and conditions: The purchase price for the real property shall be the sum of ONE HUNDRED AND TWENTY THOUSAND DOLLARS ($120,000.00) payable as follows: (a) ONE THOUSAND DOLLARS ($1,000.00) by certified cheque to the Vendor upon the execution of this Agreement as a deposit to be held in trust by it until the closing of the transaction or other termination of this Agreement, and to be credited on account of the purchase price on closing, or returned to the Purchaser, without interest, if this transaction is not completed; and (b) ONE HUNDRED AND NINETEEN THOUSAND DOLLARS ($119,000.00) by certified cheque to the Vendor on closing. The date for the closing of the transaction herein shall be on or before March 5th, 1986. This (a) (b) (c) (d) (e) (f) Agreement shall be conditional upon: the Vendor within six months of the date hereof, re-zoning the real property to a commercial use similar to that of the lands owned by the Purchaser on the north side of the real property; the Vendor, at no expense to it, obtaining, prior to the closing of this transaction, a release from Her Majesty the Queen in right of the Prov- ince of Ontario, of the covenant set out THIRDLY in Instrument 166538 "that the lands herein conveyed shall be used for municipal purposes only and for no other purpose"; the Vendor, at no expense to the Purchaser, granting, prior to the closing of this transaction, permanent easements over portions of the real property respecting utilities presently located therein or thereon in favour of The Regional Municipality of Durham, Bell Canada, Ontario Hydro, Picketing Hydro-Electric Commission, Consumers' Gas or any of them; the Vendor, at no expense to the Purchaser, closing, prior to the closing of this transaction, in accordance with the Municipal Act, those parts of Sheppard Avenue and Fairport Road comprising part of the real property; the Purchaser, at no cost to it, granting, on the closing of this trans- action, a permanent easement or easements over portions of the real property for storm sewerage purposes, municipal transit purposes, or both, in favour of the Vendor; and the Purchaser, at its expense, within 90 days of the date hereof, satisfy- ing itself in its sole discretion as to the costs affiliated with its intended usage of the real property. - 2 - Should the conditions set out in paragraph 3, above, or any one or more of them, not be satisfied, and, in the case of conditions (a) and (f) not waived by the Purchaser and in the case of condition (e) not waived by the Vendor, this Agreement shall be null and void and neither the Vendor nor the Purchaser shall have any obligation hereunder and the deposit shall be returned to the Purchaser without interest or deduction. The Vendor covenants, warrants and represents as follows, which shall not be merged on closing, and acknowledges that the Purchaser is relying upon such covenants, warranties and representations: (a) on the date of closing, there shall be access to the real property from Merriton Road and Fairport Road; (b) that, as of the date hereof, there are no flood plan regulations affecting the real property. The Purchaser shall be allowed the 90 days next following the date hereof to examine the title to the real property at its own expense, and to satisfy itself that there are not outstanding municipal work orders or deficiency notices affecting the real property. The Vendor covenants, warrants and represents that it will, on or before the closing of this transaction discharge all liens, claims and encumbrances affecting the real property, save as herein otherwise provided, and vacant possession will be delivered on the date of closing. After the date hereof, and prior to the closing of this transaction, the Pur- chaser, its agents, servants and employees shall be entitled to full access upon the real property for the purpose of making surveys, inspections and placing survey markers, and for the purpose of making soil tests, and drawing plans as they deem advisable and completing such preliminary matters relating the real property as they may deem advisable. Should any of the conditions, covenants, representations, provisos or war- rarities contained in this Agreement not be satisfied or the transaction not close within the time limits provided, which conditions, provisos, covenants or war- ranties the Purchaser or the Vendor, as the case may be, shall not waive, this Agreement shall, on the expiration of such time, at the option of the Purchaser or the Vendor, as the case may be, be null and void, and the Purchaser's deposit shall be returned in full without interest or deduction. 10. (1) If the conditions set out in paragraph 3, above, have been satisfied, or in the case of conditions (a) and (f) waived by the Purchaser and in the case of condition (e) waived by the Vendor, the Purchaser shall have the right to move up the date of closing of this transaction to any date earlier than that otherwise provided herein by giving the Vendor's solici- tor fifteen days prior notice, in writing, of such earlier date of closing. (2) In the event that the condition set out in paragraph 3(a), above, has not been satisfied within the time provided the parties shall extend the date of closing and satisfaction of that condition for up to six successive periods of one month each to permit further time to satisfy that condition. 11. The title to the real property is good and free from all encumbrances save as herein otherwise provided. If within the time allowed for examining the title any valid objection to title or to any outstanding municipal work order or deficiency notice is made in writing to the Vendor and which the Vendor is unable to remove, remedy or satisfy and which the Purchaser will not waive, this Agreement notwithstanding any intermediate acts or negotiations in respect of such objections shall be at an end and the deposit shall be returned without interest or deduction and the Vendor shall not be liable for any costs or dam- ages. Save as to any valid objection so made by such day and except for any objection going to the root of the title, the Purchaser shall be conclusively deemed to have accepted the Vendor's title to the real property. - 3 - 12. The Purchaser shall not call for the production of any title deed, abstract, survey or other evidence of title to the real property except such as are in the possession or control of the Vendor. The Vendor agrees that it will deliver to the Purchaser an up-to-date survey of the real property within 90 days of the date hereof. 13. Rents, taxes, local improvements and water and assessment rates shall be apportioned and allowed to the date of closing of this transaction (the day itself to be apportioned to the Purchaser). 14. The transfer shall, save for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of the Vendor. 15. Time shall in all respects be of the essence hereof provided that the time for doing or completing of any matter provided for herein may be extended or abridged by an agreement in writing signed by the Vendor and the Purchaser or by their respective solicitors who are hereby expressly appointed in this regard. 16. Any tender of documents or money hereunder may be made upon the Vendor or the Purchaser or their respective solicitors on the date for the closing of this transaction. Money may be tendered by cheque certified by a chartered bank, trust company or Province of Ontario Savings Office. 17. This Agreement shall constitute the entire agreement between the Purchaser and the Vendor and there is no representation, warranty, collateral agreement or condition affecting this Agreement or the real property or supported hereby other than as expressed herein in writing. This Agreement shall he read with all changes of gender or number required by the context. IN WITNESS WHEREOF the corporate seals duly attested 1985. parties hereto have hereunto affixed their respective by their property authorized officers as of June 3rd, SIGNED, SEALED & DELIVERED TONALIST HOLDINGS INC. THE CORPORATION OF THE TOWN OF PICKERING Mayor Clerk hi ~,,0~, 6'~ ol~ HIGHWAy ~ No