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HomeMy WebLinkAboutBy-law 2357/87THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NO. 2357/87 Being a by-law to authorize the execution of an agreement between The Corporation of the Town of Picketing, J.D.S. Investments Limited and Discovery Place Limited respecting the development of five residential apartment condominium buildings and one office-commercial building in Lots 21 and 22, Concession 1, Pickering (Glenanna Road/Kingston Road/Valley Farm Road; A23/86, A27/86). WHEREAS, as a condition of the approval on October 6, ~986, of Zoning By-law Amendment Applications A23/86 and A27/86, it is necessary to enter into a Develop- ment Agreement pursuant to the provisions of the Planning Act, 1983, S.O. 1983, chapter 1, and the Municipal Act, R.S.O., 1980, chapter 302, with the Owner of the subject lands, J.D.S. Investments Limited; 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 a Development Agree- ment in the form attached hereto as Schedule A between The Corporation of the Town of Picketing, J.D.S. Investments Limited and Discovery Place Limited with respect to the development of that part of the Town Centre Community in Lots 21 and 22, Concession 1, Pickering, bounded by Glenanna Road, Kingston Road and Valley Farm Road and the Esplanade North (A23/86; A27/86). BY-LAW read a first, second, third time and finally passed this January 19, 1987. //~h'E. AhcFer~'oh, Mayor ~/' ,Igruc~ Taylor, Clo4'k i TOWN OF , PICKERtt,IG APPROVED LEGAL D~PT. Schedule A to By-law 2557/87 Tills AGREEMENT made this 19th clay of January, 1987. BETWEEN: J.D.S. INVESTMENTS LIMITED hereinafter called the "Owner" OF TIlE FIRST PAF, T, - and - THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF TIlE SECOND PART, - and - DISCOVERY PLACE LIMITED hereinafter called "Tridel" OF TIlE TItlRD PART. WHEREAS the Owner proposes to develop that part of Lots 21 and 22, Concession 1, in the Town of Pickering, in the Regional Municipality of Durham, bounded by Glenanna Road, Kingston Road, Valley Farm Road and the Esplanade Park; and WIIEREAS, Tridel is to be the developer of the residential portion of the project; NOW THEREFORE, Tills AGREEMENT WITNESSETtt, that in consideration of the Town approving the proposed development and the covenants hereinafter expressed, the Parties hereto covenant and agree one with the other as follows: LAND AFFECTED The lands affected by this Agreement [the "Lands"] are [those lands in Lots 21 and 22, Concession l, Pickering, shown on a plan of survey dated June 16, 1986 and prepared by Jack T. Garbutt, O.L.S. of I.M. Pastushak l.imited, Ontario Land Surveyors (Ref, P86-31)1. [This description will be replaced by full legal description acceptable for regis- tration purposesl. CANCELLATION OF AGREEMENT In the event that a building permit to allow the construction on the Lands of the first residential condominium apartment building is not issued on or before July 31, 1988, the Town may, at its option on one month's notice to the Owner, declare this Agreement to be null, void and of no further effect, and the Town shall not be liable for any expenses, costs or damages suffered by the Owner as a result thereof. NOTICE Any notice required to be given hereunder may be given by registered mail addressed to the other Party at its principal place o[ business and shall be effective as of the second clay immediately following the date of the deposit thereof in the Post Office. INTERPRETATION (i) Whenever in this Agreement the word "Owner", or "Encumbrancer" and the pronoun "it" is used, it shall be read and construed as "Owner or Owners", "Encumbrancer or Encumbrancers" and "his", "her" or "them", respectively, and tile number of the verb agreeing ~h'erewith shall be construed accordingly. (2) Schedule A hereto shall form part of this Agreement. TIME (1) (2) Time shall be of the essence of thi~ Agreement. if the Official Plan Amendment or Zoning By-law Amendment for this project is referred to or appealed to the Ontario Municipal Board the time periods or time limits set out in sections 2, 24(l), 30(3) and 33(1) hereof shall be extended automatically by adding thereto the time period between the date of referral or appeal aod the date of the Board's order resulting therefrom. BINDING PARTIES This Agreement and everything herein contained shall enure to the benefit and be binding upon the Parties hereto, their successors and assigns. of LICENCE 'FO ENTER The Owner shall retain a licence from any subsequent purchaser of the l,ands, or any part thereof, to enter opon the l,ands or part thereof in order to com- ply with the provisions of this Agreement. OWNER'S GENERAL UNDERTAKING The Owner shall complete at its own expense and in a good workmanlike man- ncr, for the Town, all the municipal services as hereinafter set forth to the satisfaction of the Town of Picketing, anti shall complete, perform or make payment for such other matters as may be provided for herein. CONSULTING ENGINEERS (il The Owner shall retain a Professional Engineer as the Consulting Engineer of the Owner to carry out all the necessary engineering and to supervise generally the work required to be done by this Agreement and for the development of the Lands. (2) Such Consulting Engineer, or any successor thereto, shall continue to he retained until the work provided for in this Agreement is completed and formally accepted or approved by the Town. 10. STORM DRAINAGE (D The Owner shall construct a complete storm drainage system including storm connections to the street line and catch basin leads to service the Lands and to provide capacity for lands upstream thereof and to service adiacent road allowances according to designs approved by the Director of Public Works and according to the specifications of the Town in effect at the date hereof and shall maintain it, including clearing any blockages or debris from whatever cause, until it is formally accepted By the Town. Such system shall he constructed to an outlet or outlets according to designs approved by the Director of Public Works and shall be of suffi- cient size and depth and at locations either within or outside the Lands to service the I.ands and the aforementioned lands outside the Lands which in the opinion of the Director of Public Works, will require its use as a trunk outlet. (3) Should, in the opinion of the Director of Public Works, an inadequate stream or structure exist in the outlet system outside the Lands the Owner shall be required to carry out such works as are necessary to provicle an adequate outlet. (4) The Town may connect or authorize connection into any part of the system but such connection shall not constitute acceptance of the system by the Town. (5) No connection under subsection 4, above, shall be undertaken or au- thorized prior to preliminary acceptance of the sewer system by the Town, except in an emergency. 11. ROADS - ROUGlt GRADE (1) Prior to the installation or construction of the municipal services provided for herein, the Owner shall roogh grade to the Town's specifications, to lhe full width, the proposed Esplanade North road allowance, being Parts 23 and 60, Plan 40R-7765. (2) The Owner shall keep all boulevards clear and free of materials and obstructions which might interfere with the installation of electric, tele- phone, gas or other utilities. 12. ROADS - PAVED The Owner shall construct the proposed Esplanade North road, according to the Town's specifications for paved roads of the Town in effect at the date hereof. (3) Until assumption by the Town, the Owner shall maintain and repair the proposed Esplanade North road and, all other roads where construction has taken place or that are used by constrtiction traffic entering the [,ands and keep such roads clear of mud. dust, refuse, rubbish or other litter of all types. The Owner shall erect and maintain adequate signs to warn all persons using the proposed Esplanade North road that the maintenance of it has not been assumed by the Town from the time that it is opened until formal assumption by the Town. (4) Such signs and the location thereof are subject to the approval of the Town's Director of Public Works. 13. CURBS & GUTTERS (l) The Owner shall construct curbs and gutters on the proposed Esplanade North road and on Kingston Road adjacent to the Lands according to the specifications of the Town in effect at the date hereof and shall maintain them until they are formally accepted by the Town. if any curb depressions are not located correctly with ~e~pect to a drive- way. the Owner shall construct a curb depression in the correct location and fill in the original cnrb depression according to the said specifica- tions. 14. BUS LANE (1) The Owner shall construct a bus lane 20 metres in length on the west side of Valley Farm Road immediately south of any driveway entrance to the Lands to be installed on that side of Valley Farm Road, and shall replace existing curb, gutter, sidewalk and bicycle path adjacent to that bus lane. (2) The bus lane shall be constructed to the same specifications as the proposed Esplanade North road. 15. SIDEWALKS AND BICYCLE PA'FIlS (1) The Owner shall construct a combined sidewalk and bicycle path on the east side of Glenanna Road adjacent to the Lands and on the south side of Kingston Road adjacent to the l,ands. (2) Wherever the existing sidewalk or bicycle path on the west side of Valley Farm Road is damaged during thc development of the Lands, the Owner shall repair or repl/tce the sidewall( or bicycle path. 16. BOULEVARDS (1) The Owner shall construct, sod and landscape the Kingston Road boule- vard adjacent to the [,ands. The Owner shall repair, re-sod or re-landscape the Glenanna Road boule- vard adjacent to the Lands and the Valley Farm Road boulevard adjacent to the Laods wherever they are damaged during the development of the Lands. 17. ELECTRICAL SERVICES Where electricity, cable television service or telephone service is to be provided to any building or site on the Lands, it shall be provided underground and in accordance with the standards and specifications of Picketing ttydro-Efectric Commission, Picketing Cable T,V. Limited or Bell Canada, as the case may be. 18. STREET lAG[VI'lNG (1) The Owner shall install street lights, including poles and other necessary appurtenances, on the proposed Esplanade North road and shall upgrade the street lighting adjacent to the Lands on Glenanna Road, Kingston Road and Valley Farm Road. (2) Electrical service for street lighting shall be provided underground and not aboveground. (3) Street lighting and its related electrical service shall be designed and installed in accordance with standards established by the Town and in conformity with the Association of Municipal Electrical Utilities Guide to Municipal Standard Construction. (4) The installation of street lighting and its related services shall be under the supervision anti inspection of Picketing Hydro-Electric Commission. 19. INSPECTIONS (i) Prior to the issuance of the first building permit allowing the construction of any building on the Lands, the Owner shall pay to the Town the sum of $3,450 as an engineering drawing inspection fee. (2) All works required to be constructed by the Owner, except those re- ferred to in sections 17 and 18 shall he installed under the observation of inspectors employed by the Town and the Owner shall pay the costs incurred therefor within 30 days of invoices being rendered. (3) The costs referred to in sobsection (2) may include, but not necessarily be limited to, salaries and wages of Inspectors, testing fees and adminis- tration fees. 20, LIABILITY INSURANCE (l) Before commencing any of the work provided for herein, the Owner shall supply the Town with a Liability Insurance Policy in 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 on the Lands and elsewhere. (2) The amount of the Policy shall be $5,000,000. (3) In the event any renewal premium is not paid, the Town, in order to prevent the ]apse of the 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 account therefor being rendered by the Town. (4) The Owner shall notify the Town of the dates for the renewal of the policy and to snpply proof that the renewal premium has been paid in order that the protection provided by the IAability Insurance Policy shall not Iai)st;. 21. PERFORMANCE & MAINTENANCE GUARANTEE Before commencing the construction, installation or performance of any of the works provided for herein, the Owner shall supply the Town with a 60% performance and maintenance security in a form satisfactory to the Town and in an amount established by the Director of Public Works (the "original value") for the purpose of, (a) guaranteeing the satisfactory construction, installation or perfor- mance of the works; (b) guaranteeing the payment of any amounts payable to the Town under section 19 of this Agreement; (c) guaranteeing the payment of any amount that the Town may be required to pay under the provisions of the Construction Lien Act, 1983, and (d) guaranteeing all works, workmanship and materials for a period of 2 years from the date that the works are completed and such completion acknowledged, in writing, by the Director of Public Works. (2) ]'he Owner may, at any time after the first 50%, in value, of works have been constructed, installed or performed, and paid for, apply for a reduction in the security and such application shall be made to the Town Treasurer, (3) Upon written verification from the Director of Public Works that the construction, installation or performance of the works for which reduction is being sought have been satisfactorily completed and paid for, the Town Manager may reduce the amount of the security to an amount not less t hah , (a) sixty per cent (60%) of the original value where no certificate or declaration of substantial performance has been made; (b) thirty-five per cent (35%) of the original value where, (i) a certificate or declaration of substantial performance has been published; (ii) 45 days following such publication have expired; and (iii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; and (c) seventeen per cent (17%) of the original value where. (i) a certificate of final completion has been made by the Owner's Consulting Engineer; (ii) 45 days following the making of such certificate have expired; and (iii) all liens that may be claimed against any holdback required to be retained by the Town have expired or have been satisfied, discharged or provided for by pay- ment into court; which seventeen per cent (17%) portion shall secure the guarantee of works, workmanship and materials, until the obligation to guarantee has 6 (4) expired, when the balance of the security shall be returned to the Owner subject to any deductions for rectification of deficiencies. Upon the approval, if any, of a reduction in the amount of the security required to be provided in subsection l, the Town Manager or the Town Treasurer shall provide to the Owner any necessary assurance to effect the reduction. 22. DRAINAGE - SODDING (1) The Owner shall provide to the Town, before commencing any of the work provided for herein and prior to the commencement of the development of the I,ands with a Grading Control Plan prepared by the Owner's Consult- ing Engineer, establishing the proposed grading of the Lands to provide for the proper drainage thereof and the drainage of all adjacent lands which drain through the Lands. (2) The Grading Control Plan shall be prepared in accordance with the Town's Lot Drainage Specifications in effect at the date of this Agree- ment, and shall not provide for the drainage of surface run-off water onto Town-owned land, except roads, unless provision is made for the installation by the Owner. at no cost to the Town, of suitable swales and catch basins to manage adequately, in the opinion of the' Town's Director of Parks and Recreation, that surface run-off water. The Grading Control Plan is sub}ect to the approval of the Town's Direc- tors of Public [Vorks and Parks and Recreation. The grading of all lands shall be carried out by the Owner in accordance with the approved Grading Gontrol Plan, under the supervision of the Owner's Consulting Engineer, (s) If, in the opinion of the Director of Public Works, drainage problems occur prior to formal acceptance of the works by the Town, tile Owner shall correct them by re-grading or by the construction of catch basins. swales or other structures as may be necessary to correct such problems. (6) The Owner shall sod the Lands except for paved, planted or treed areas, upon the completion of the construction of buildings thereon. 23. INCOMPLETED OR FAULTY WORK (D If, in the opinion of the Director of Public 'igorks, the Owner is not prosecuting or causing to be prosecuted the work in connection with this Agreement within the specified time, or in order that it may be completed within tile specified time, or is improperly 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, itl 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 of Public ~orks shall promptly notify the Owner in writing of such default or neglect and if such notification be withont 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 said work at the cost and expense of the Owner or his surety, or both, but in the case of the surety, only to the extent of the amount of the letter of credit provided under section 21. (2) In cases of emergency, in the opinion of the Director of Public Works, such work may be done without prior notice bnt the Owner shall be forthwith notified. 7 (3) (4) The cost of such work shall be calculated by the Director of Public Works whose decision shall be final. It is understood and agreed that such costs shall include a management fee of t'wenty per cent (20%) of the labour and material value, and fur- ther, 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. 24. TRANSFERS - CONVEYANCES Subject to the provisions of section 37(1), the Owner shall convey to the Town. free and clear of all encumbrances and at no cost to the Town, upon the registration of this Agreement or within the 90 days immediately following the registration hereof, fa) a 3.0 metre wide promenade parcel along the entire boundary of the Lands adjacent to the proposed Esplanade North road and along that portion of the boundary of the residential portion of the Lands adjacent to Glenanna Road; - ' (b) a walkway, having an average width of 4.0 metres, between Kingston Road and the proposed Esplanade North road, along the westerly boundary of the plan or plans of condominium adjacent to Valley Farm Road; (c) a walkway having an average width of 3.0 metres, between Kingston Road and Glenanna Road, along the easterly boundary of the office-commercial building site; (d) five pedestrian rest areas, one at each of, ti) (ii) (iii) (iv) tv) the Glenanna Road/Kingston Road intersection. the 4.0 metre walkway/Kingston Road intersection, the Kingston [toad/Valley Farm Road intersection, the Valley Farm Road/promenade intersection, and the promenade/Glenanna Road intersection. (2) Notwithstanding the provisions of subsection ti), above, a transfer required therein shall not be deemed to be subject to an encumbrance if that encumbrance relates in any way to the existence or maintenance of a public utility in operation as of the date of this Agreement. 25. TRANSFERS - EASEMENTS (1) The Owner shall arrange at no cost to the Town for granting to the Town such easements as the Director of Public Works or his designate shall deem necessary for the provision of storm sewer services within the Lands. (2) Such easements shall be subject to the approval of the Director of Public Works or bis designate as to their location and width. The construction of any services in such easement or easements referred to in subsection (1) shall not commence until the easement has been acquired, unless permission to do so fins been obtained by the Owner, in writing, from the Towo and from the registered owner of the lands across which the easement shah [ie. 26. GENERAL PROVISIONS - SERVICES The Owner agrees with the Town: (a) Paving of Driveway Approaches To pave all driveway approaches between the curb and sidewalk to the Town's specifications for paved roads. (b) Continuation of Existing Services Where the construction of services herein involves a continuation to existing services, to join into the same, including adjustment of grades where necessary, in a good and workmanlike manner. (c) Public Lands - Fill & Debris (d) (i) Neither to dump nor to permit to be dumped, any fill or debris on, nor to remove or permit to be removed, any fill from any public lands, other than in the actual repair or construction of roads, without the written consent of the authority responsible for such public lands. (ii) On request, to supply the Town with an acknowledgement from such authority of the Owner's compliance with the terms of sub- clause {i). (iii) There shall be no burning of refuse or debris upon the Lands or any public lands. 0ualitative or Quantitative Tests The Director of Public Works may have qualitative or quantitative tests made of any materials which have been or are proposed to be used in the construction of any works or services required by this Agreement, and the cost of such tests shall be paid by the Owner within 30 days of the account being rendered by the Town. (e) Relocation of Services (i) To pay the cost of relocating any existing services and utilities within 30 days of the account for same being rendered by the Town. (ii) Similarly to pay the cost of moving any services or utilities installed under this Agreement in driveways or so close thereto, in the opinion of the Director of Public Works, as to interfere with the use of the driveway. (f) Specifications Unless otherwise provided, to perform any work required to be done under this Agreement to the specifications of the Town in effect at the date hereof. (g) Temporary Sil~ns To provide and erect at its own cost, to the specifications of the Town, temporary signs of such nature and at such locations as may be designa- ted by the Director of Public Works. (h) Permanent Signs To provide and erect at its own cost, to the specifications of the Town, permanent signs of such nature and at such locations as may be designa- ted by the Director of Public Works. (i) Engineering Drawings Prior to the final acceptance of the works, to supply the Town with the original engineering drawings with amendments, if any, noted thereon. (j) Survey Monuments & Markers Prior to the acceptance of the works by the Town, to supply a statement by an Ontario Land Surveyor that, after the completion of the works, lie has fonnd or re-established all standard iron bars and survey monuments delineating the boundaries of the Lands, the promenade, the pedestrian rest areas and walkways. 27. CONSTRUCTION & OCCUPANCY OF BUILDINGS (1) No building permit shall be issued for any building or part of a building on the Lands until sewer and water facilities are available, and in the opinion of the Director of Public Works, capable of providing adequate service. No building or part of a building on the Lands shall be occupied except upon the issuance of a municipal occupancy permit. (3) No application for a municipal occupancy permit for a building or part of a building shall be made except upon the following conditions: (i) Storm sewer, sanitary sewer and water facilities are installed and in operatiou to adequately serve such building or'part thereof; (ii) Electric service is completed and in operation; and (iii) An asphalt or equivalent hard-surfaced base has been laid on the road immediately in front of the building or part thereof and extended to an existing maintained public road. (4) The Owner shall maintain pedestrian and vehicular access to each oc- cupied building on the Lands at all times until the building becomes part of a registered plan of condominium. 28. COMMENCEMENT OF DEVELOPMENT (1) Tile Lands shall be developed for five residential condominium apartment buildings, which may or may not be linked by accessory buildings, and one office-commercial building, and for no other purpose. Prior to the issuance of any building permit for the construction on the I,ands of a building in excess of 600 square metres gross floor area, the Owner shall commence construction of all works required to be construct- ed by it outside the boundary of the Lands, except those works to be constructed on Kingston Road, although this shall not prevent the Owner from commencing the construction on Kingston Road at that time should it wish to do so. (3) Prior to the issuance of arty building permit for the construction of a building in Area A of the [,ands, as shown on Schednle A, the Owner shall commence construction of all works required to be constructed by it on Kingston Road adjacent to Area A. (4) Prior to the issuance of any bnilding permit for the construction of a building in Area F of the [,ands, as shown on Schedule A, the Owner shall commence construction of all works required to be constructed by it on Kingston Road adjacent to Area F. Prior to tile issuance of the third building permit for the construction of a building in excess of 601) square metres gross floor area on the Lands, the Owner shall commence construction of all works required to be con- structed hy it on Kingston Road adjacent to the Lands. l0 (6) Works to be constructed outside the boundary of the Lands shall be completed within two years of the date of commencement of those works, and the Owner shall guarantee the workmanship and materials for a period of two years from the date that the works are approved in writing by the Town's Director of Public Works, Director of Parks and Recreation and Director of Planning. 29. SITE DESIGN AND PLANNING (z) (3) (4) The Owner shall, prior to the issuance of any building permit for the construction of any building on the Lands, submit to the Town's Director of Planning, for approval, a report outlining siting and architectural design objectives for the development which approval shall not be unrea- sonably withheld. The report referred to in subsection (1) may be required, at the Direc~ torts option, to provide the following information: (a) (bi (c) (dj (e) (fi building massing; streetscape; exterior materials and colours; architectural style; visual variety; energy conservation measures; and any other data or information required. The Owner shall, prior to the issuance of any building permit for the construction of a building to be erected on any part of the Lands, submit to the Director, for approval, site plans and architectural drawings for that building and its site, which approval shall not be unreasonably withheld. The plans and drawings referred to in subsection (3) may be required, at the Director's option, to provide the following information: (a) (bi (c) (dj (e) (fi the location of all buildings and structures to be erected and the location of all facilities and works associated therewith; the location of landscaping features, inchtding trees; streetscape for all elevations at a scale acceptable to the Director; streetscape to show all street furniture and vegetation; the relationship of buildings by blocks; and any other data or information required. (5) Prior to the issuance of any building permit for the construction of a particular building to be erected on the [,ands, the Owner shall comply with all provisions of the Planning Act, 1983, including the entering into of a l)uvelopment Agreement respecting the specific portion of the l.ands supporting that building, which agreement shall deal with all matters of site development, including, (a) (bi (c) (dj (e) (fi (g) (hi on site sidewalks and walkways, on site roads, road works, and parking areas, on site grading, on site sodding and landscaping, on site recreational facilities, on site lighting, and on site and boundary fencing. 30. FINANCIAl, PAYMENTS (1) The Owner shall pay to the Town a residential unit levy for each dwelling unit to be constructed on the Lands, each payment to be made when the ll (2) (4) (s) building permit is issued for the building within which the unit is to be located. No building permit shall be issued for any building unless payment of the residential unit levy has been paid for every dwelling unit within that building. The amount of each residential unit levy shall be the lesser of the amount of the Town's two-bedroom apartment residential unit levy in effect on the date of payment by the Owner, or (a) $1.000 per unit, if paid on or before July 31, 1988; (b) $2,000 per unit, if paid after July 31, 1988, but January 31, 1990; or (c) $3.000 per unit, if paid after January 31. 1990. on or before So long as any residential unit levy to be paid hereunder remains unpaid, neither the Owner nor Tridel, nor any person on their behalf shall object to, oppose, appeal or otherwise attack the amount of. or the Town's right to impose a two-bedroom apartment residential unit levy. or to adjust the amount thereof, so long as the amount, the imposition or the adjustment is applied to all two-bedroom apartment residential projects in the Town. A letter from the Clerk of the Town advising that the' residential unit levy has been paid for every dwelling unit within a building shall be deemed to be a release of this section for the building referred to in the letter. 31. GENERAL PROVISIONS - FINANCIAL MATTERS The Owner agrees with the Town: (a) Taxes To pay the taxes in frill on all the Lands as required by law from titne to time. (b) Local Improvements Prior to the registration of this Agreement, to prepay any outstanding local improvement charges which are levied against any of the Lands. (c) Interest To pay interest at the rate of eighteen per cent (18%) per annum to the Town on all sums of money payable herein which are not paid on the due dates calculated from such due dates. (d) Registration Fees To pay all registration costs incurred by the Town relating in any way to the registration of this Agreement or any other related documentation. including transfers, in the Registry or [,and Titles Office. (e) Lien or Other Claims Upon applying for final acceptance of the works, to supply the Town with a Statutory Declaration that all accounts for work and materials have been paid, except normal guarantee holdbacks, and there are no claims for liens or otherwise in connection with such work done or material supplied for or on behalf of the Owner, or if such claims do exist, the Owner shall indemnify the Town against all claims, actions or demands for liens or otherwise and all costs in connection therewith. 12 32. EXPIRY OF LETTERS OF CREDIT (1) Should any letter of credit required to be given under the terms of this Agreen~ent expire during the currency of the Agreement, the party that originally provided the letter of credit shall provide to the Town, at least 30 days in advance of the expiry date of that letter of credit, a further letter of credit to take effect upon the expiry. (2) Such further letter of credit shall be to the satisfaction of the Town. (3) Should no such further letter of credit be provided as required, then the Town shall have the right to convert the expiring letter of credit into cash and hold the cash in lieu of and for the same purposes as any further letter of credit. 33. PROVISION OF PARKLAND (1) Prior to the issuance of a building permit for each of the residential condominium apartment buildings to be constructed on the Lands, the Owner shall pay to the Town a sum calculated as follows; $1,392,825 5 XN, where the factor N is 1.0 if the payment is made in 1987, and increases at the rate of 0.1 per year thereafter (e.g. 1.1, if the payment is made in 1988; 1.2, if the payment is made in 1989), each payment being in partial satisfaction of the Owner's obligation to provide parkland. (2) Upon receipt by the Town of the fifth payment under subsection (1), the Owner shall have fully satisfied its obligation to provide parkland. 34. TREE PLANTING (1) The Owner shall plant on road allowances adjacent to the Lands, on the promenade, on the walkway and on the pedestrian rest areas, a total of 435 trees of a minimum three inch diameter and of a type acceptable to the Town. (z) A schedule of the Owner's tree planting scheme shall be approved by the Director of Planning prior to the planting of any trees. (3) The trees approved by the Town shall be planted by the Owner in accor- dance with a planting schedule approved by the Town.. 35. PROMENADE AND PEDESTRIAN REST AREAS (1) At the time that the proposed Esplanade North road is being constructed, the Owner shall develop the north boulevard thereof, the adjacent promenade, the east boulevard of Glenanna Road adjacent to the l,ands, and the pedestrian rest areas referred to in section 24(l)(d)(iii), (iv) and (v), in accordance with plans prepared by the Owner and approved by the Town. (z) The plans submitted by the Owner for approval shall show the location, type, size, design and construction details, where appropriate, of (a) (b) (c) (d) (e) surface materials, trees and shrubs, seats, benches and other street hardware, promenade lighting, bus ki.osks, and other features present. 13 (3) The Town, in approving the Owner's submitted plans, may amend those plans to require any of the items referred to in subsection (2) to be included, where they are not included by the Owner, or to be varied in number (except trees), location, type, size, design or construction, where they are included by the Owner, but not to the Town's satisfac- tion. 36. WALKWAYS (~) Despite the provisions of section 24(l), the Owner may postpone the conveyance to the Town of either or both walkways until such time as, (a) in the case of the 4.0 metre walkway, the westerly boundary of the plan or plans of condominium to the east of it have been fixed, and (b) in the case of the 3.0 metre walkway, the easterly boundary of the office - commercial building site to the west of it has been fixed. but if such postponement occurs, the conveyance to the Town must be made in accordance with the other provisions of section-24 within 30 days of the Town requesting it. (z) Within one year of the conveyance to the Town of a walkway, the Owner shall develop that walkway and, fa) in the case of the 4.0 metre walkway, the pedestrian rest areas referred to in section 24(1)(d)(ii), (b) in the case of the 3.0 metre walkway, the pedestrian rest area referred to in section ;)4 (1)(d)(i), in accordance with plans prepared by the Owner and approved by the Town. (3) The plans submitted by the Owner for approval shall show the location, type, size, design and construction details, where appropriate, of (a) (b) (c) (d) (e) (f) surface materials, trees and shrubs, seats, benches anti other walkway hardware, walkway lighting, walkway fencing, and other features present. (4) The Town, in approving the Owner's submitted plans, may amend those plans to require any other items referred to in subsection (3) to be included, where they are not included by the Owner, or to be varied in number, location, type, size, design or construction, where they are included by the Owner but not to the Town's satisfaction. (5) When the 4.0 metre walkway is developed, the Owner shall install a bus kiosk of a size, type and design approved by the Town, on the west side of Valley Farm Road adjacent to the bus lane referred to in section 14. 37. FENCING The outside boundary of sites on the Lands shall designs submitted by it approval process for the site. the residential condominium apartment building be fenced by the Owner in accordance with and approved by the Town in the site plan first residential condominium apartment building 14 (~) (3) (~) The boundary between the office-commercial and residential portions of the Lands shall be fenced by the Owner in accordance with designs submitted by it and approved by the Town in the site plan approval process for the office-commercial building site. Fencing approved under subsections (1) and (2) shall be installed adja- cent to each site as that site is developed and in accordance with any agreement or agreements entered into pursuant to section 29(5). All building sites shall be completely fenced during construction with a solid wood hoarding fence at least 2.4 metres high, maintained in a prop- er manner, painted, and kept free of bills and graffiti; entrances through such hoarding shall be kept closed when the site is not under direct supervision. NOISE ATTENUATION (1) Prior to the issuance of a building permit to allow the first building to be constructed, the Owner shall submit a noise attenuation report, prepared by a qualified noise engineer, describing noise levels anticipated to affect the Lands and any noise attenuation measures recommended to alleviate the impact thereof, if necessary. , ' (2) The noise attenuation report shall be subject to the approval of the Ministry of the Environment. (3) The Owner shall implement on the Lands, or in any building erected thereon, all recommended noise attenuation measures approved by the Ministry, APPROVALS No approval required by this Agreement to be given hy the Town or any em- ployee thereof shall be unreasonably or arbitrarily withl~eld or delayed. CONDOMINIUM DEVELOPMENT (1) Development of the residential portion of the Lands shall be effected only by plan of condominium. (2) The Town may refuse to recommend and may oppose any proposed plan of condominium on any part of the residential portion of the Lands if Tridel is not, (a) (b) (c) the proponent of the proposed plan, the developer of the proposed residential condominium apartment building, and the registered owner of, or the holder of a binding option to purchase, all of the undeveloped residential portion of the Lands, and the Owner and Tridel, or either of them shall not object to, oppose or appeal the Town's refusal or opposition. iN WITNESS WItEREOIr, the Parties hereto have hereunto affixed their Corporate Seals 15 attested by the hands of their authorized officers. SIGNED, SEALED & DELIVERED J.D.S. INVESTMENTS LIMITED THE CORPORATfON OF THE TOWN OF PICKERING John E. Anderson, Mayor Bruce Taylor. Clerk DISCOVERY PLACE LIMITED 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 hy 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 , this da,] of , 1987. SIGNED, SEALED & DELIVERED CITIBANK CANADA 16