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HomeMy WebLinkAboutBy-law 1327/81THE CORPORATION OF THE TOWN OF PICKERING 73 and 74, Plan 350, Pickering (Draft Plan 18T-80053) WHEREAS Oakpick Investments Limited proposes to subdivide and register a plan of subdivision of Part of Lots 73 and 74, Plan 350, Pickering; and Being a By-Law to authorize the execution of a Subdivision Agreement between Oakpick Investments Limited and the Corporation of the Town of Pickering respecting Part of Lots WHEREAS that proposal has been approved by the Council of the Corporation of the Town of Pickering and the Minister of Housing, subject to several conditions, one of which requires the entering into of a satisfactory Subdivision Agreement between Oakpick Investments Limited and the Corporation of the Town of Pickering; NOW THEREFORE, the Council of the Corporation of the Town of Pickering HEREBY ENACTS AS FOLLOWS: The Mayor and Clerk are hereby Subdivision Agr Schedule "A", b the Corporation subdivision of ering (Draft P1 BY-LAW NO. 1327 /81 eement, in the etween Oakpick of the Town of Part of Lots 73 an 18T-80053). authorized to execute a form attached hereto as Investments Limited and Pickering respecting the and 74, Plan 350, Pick- BY-LAW read a first, second and third time and finally passed this 6th day of July , 1981. Clerk l TOWN O PICKERI APPROVE AS TO FO SCHEDULE "A" THIS AGREEMENT made in triplicate this day of , 1981. B E T W E E N OAKPICK INVESTMENTS LIMITED hereinafter called the "Owner" OF THE FIRST PART, - and - THE CORPORATION OF THE TOWN OF PICKERING hereinafter called the "Town" OF THE SECOND PART, - and - hereinafter called the "Encumbrancers" OF THE THIRD PART. WHEREAS, the Owner proposes to subdivide parts of Lots 73 and 74, Plan 350, in the Town of Pickering in the Regional Municipality of Durham, and with the consent of the Encumbrancers, to register a plan of subdivision of those lands, as shown on a draft plan of subdivision prepared by Anton Kikas Limited, Ontario Land Surveyors, designated as Draft Plan Number 18T-80053; and WHEREAS, the Encumbrancers have certain rights or interests in the nature of enccmbrances relating to the lands affected hereby; NOW THEREFORE, THIS AGREEMENT WITNESSETH, that in consideration of the Town apprnving the said proposed plan of subdivision, and the covenants hereinafter expressed, the Parties hereto covenant and agree one with the other as follows: - 2 - PART 1 - PROPERTY DESCRIPTION 1. LAND AFFECTED The lands affected by this Agreement are: ALL AND SINGULAR that certain parcel or tract of land and premises situate, lying and being in the Town of Pickering, in the Regional Municipality of Durham and Province of Ontario and being composed of - 3 - PART 2 - SERVICES 2 3 4 5. OWNER'S GENERAL UNDERTAKING The Owner agrees to complete at its own expense and in a good workmanlike manner, for the Town, all the municipal services as hereinafter set forth to the satisfaction of the Director of Public Works for the Town of Pickering, and to complete, perform or make payment for such other matters as may be provided for herein. CONSULTING ENGINEERS (1) The owner agrees to retain a Professional Engineer as the Consulting Engineer of the Owner to carry out all the neces- sary engineering and supervise generally the work required to be done for the development of the subdivision. (2) Such Consulting Engineer, or any successor thereto, shall continue to be retained until the work provided for in this Agreement is completed and formally accepted by the Town. STORM SEWERS (1) The Owner agrees to construct a complete storm system includ- ing storm connections to the street line and catch basin leads to service all the lands in the plan of subdivision and adjacent road allowances, except McLeod Crescent, and to provide capacity for lands upstream of the plan of subdivision, 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 to maintain them, including clearing any blockages or debris from whatever cause, until they are formally accepted by the Town. (2) Such sewers shall be constructed to an outlet or outlets according to designs approved by the Director of Public Works and shall be of sufficient size and depth and at locations either within or outside the lands affected hereby to service the plan of subdivision and the aforementioned lands outside the plan of subdivision, which in the opinion of the Director of Public Works, will require their use as trunk outlets. (3) Should, in the opinion of the Director of Public Works, an inadequate stream or structure exist in the outlet system outside the plan of subdivision, the owner may be required to carry out such works as are necessary to provide adequate outlets. (4) The Town may connect or authorize connection into any part of the system but such connection shall not constitute accept- ance of the sewer system by the Town. (5) No connection or authorized system by the ROADS - PAVED under subsection 4, above, shall be undertaken prior to preliminary acceptance of the sewer Town except in an emergency. (1) The Owner agrees to construct, or reconstruct, as the case may be, according to the specifications for paved roads of the Town in effect at the date hereof such boundary or approach roads as may be necessary to provide an adequate access. - 4 - PART 2 - SERVICES (Cont'd) 5. ROADS - PAVED (Cont'd) (2) The specifications for boulevard grading, sidewalks and sodding shall apply to existing roads adjacent to the plan of subdivi- sion. (3) The Owner covenants and agrees that, until assumption by the Town, it will maintain and repair roads outside the plan of subdivision where construction has taken place or that are used by construction traffic entering the plan of subdivision and keep such roads clear of dust, refuse, rubbish or other litter of all types. 6. CURBS & GUTTERS (1) The Owner agrees to construct or reconstruct, as the case may be, curbs and gutters on the roads adjacent to the plan of subdivision according to the specifications of the Town in effect at the date hereof and to maintain them until they are formally accepted by the Town. (2) If any curb depressions are not located correctly with respect to a driveway, the owner shall construct a curb depression in the correct location and fill in the original curb depression according to the said specifications. 7. SIDEWALKS The Owner agrees to construct a sidewalk on the east side of Oakwood Drive, adjacent to the plan of subdivision, and to reconstruct, if necessary in the Town's opinion, the sidewalk on the south side of McLeod Crescent, adjacent to the plan of subdivision, according to the specifications of the Town in effect at the date hereof and to maintain them until they are formally accepted by the Town. 8. UNDERGROUND ELECTRIC DISTRIBUTION & CABLE TELEVISION SERVICE (1) Underground electric distribution shall be provided for all residential lots and blocks within the plan of subdivision according to the standards and specifications of Pickering Hydro-Electric Commission. (2) Cable television services shall be provided for all residential lots and blocks within the plan of subdivision according to the standards of Pickering Cable T.V. Limited. (3) The installation of all works provided for in this section shall be constructed under the supervision and inspection of Pickering Hydro-Electric Commission and Pickering Cable T.V. Limited, as the case may be. 9. INSPECTION OF WORK (1) All works required to be constructed by the Owner, except those referred to in section 9, above, shall be installed under the observation of Inspectors employed by the Town and the Owner agrees to pay the costs incurred therefor within thirty (30) days of invoices being rendered. - 5 - PART 2 - SERVICES (Cont'd) 9. INSPECTION OF WORK (Cont'd) (2) The costs referred to in subsection (1), above, may include, but not necessarily be limited to, salaries and wages of Inspectors, testing fees and administration fees. 10. LIABILITY INSURANCE (1) 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, 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 in the plan of subdivision. (2) The amount of the said Policy shall be $1,000,000. (3) 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 agrees to pay the cost of such renewal or renewals within thirty (30) days of the account therefor being rendered by the Town. (4) It shall be the responsibility of the Owner to notify the Town of the dates for the renewal of the premium of the said policy and to supply proof that the premium of the said policy has been paid in order that the protection provided by the Liability Insurance Policy shall not lapse. 11. PERFORMANCE & MAINTENANCE GUARANTEE (1) Before commencing any of the work provided for herein, the owner shall supply the Town with a 100% performance and main- tenance security in a form satisfactory to the Town and in an amount established by the Director of Public Works to guaran- tee the workmanship and materials for a period of two (2) years from the date that the said works are completed and such completion acknowledged, in writing, by the Director of Public Works. (2) Such performance and maintenance security may, at the option of the owner, be made up of cash, irrevocable letter of credit, or a combination thereof. (3) The Owner may, from time to time, apply for a reduction in the security and such application shall be made to the Town Treasurer. (4) Upon written verification from the Director of Public Works that the services 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 than ten per cent (10%) of the original value, which ten per cent portion shall apply as the security for maintenance until the obligation to maintain has expired, when the bal- ance of the security shall be returned to the Owner subject to any deductions for maintenance purposes. (5) Upon the approval, if any, of a reduction in the amount of the security required to be provided in subsection 1, the Town Manager or the Town Treasurer shall provide to the Owner any necessary assurance to effect the reduction. - 6 - PART 2 - SERVICES (Cont'd) 12. DRAINAGE - SODDING (1) The owner agrees to provide the Town, before commencing any of the work provided for herein and prior to the commencement of the development of the plan of subdivision, with a Grading Control Plan prepared by the Owner's Consulting 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 plan of subdivision. (2) The Grading Control Plan shall be prepared in accordance with the Town's Lot Drainage Specifications in effect at the date of this Agreement and is subject to the approval of the Director of Public Works and the Metropolitan Toronto and Region Conservation Authority. (3) The grading of all lands shall be carried out by the owner in accordance with the Grading Control Plan, under the super- vision of the Owner's Consulting Engineer. (4) If, in the opinion of the Director of Public Works, drainage problems occur prior to formal acceptance of the works in the plan of subdivision by the Town, the owner agrees to correct them by re-grading or by the construction of catch basins, swales or other structures as may be necessary to correct such problems. (5) The Owner agrees to sod the front, side and rear yards of each of the lots except for paved, planted or treed areas, upon the completion of the construction of buildings thereon. 13. INCOMPLETED OR FAULTY WORK (1) If, in the opinion of the Director of Public Works, 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 the 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, 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 of 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 ten (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. (2) 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. (3) The cost of such work shall be calculated by the Director of Public Works whose decision shall be final. - 7 - PART 2 - SERVICES (Cont'd) 13. INCOMPLETED OR FAULTY WORK (Cont'd) (4) It is understood and agreed that such costs shall include a management fee of twenty per cent (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. 14. PROVISION FOR TRANSFER OF FUTURE ROAD (1) The Owner shall convey free and clear of all encumbrances, at no cost to the Grantee, within ninety (90) days immediately following the Town's request for same, such portion of Block 5 as the Town may require, in its sole opinion, for a muni- cipal road allowance. (2) Until such time as the conveyance referred to in subsection (1) is completed, the Owner shall not construct, nor permit to be constructed, any building or structure on any part of Block 5 nor on the easterly thirty (30) metres of Block 4. 15. 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 both within the boundaries of the plan of subdivision and across lands adjacent thereto but outside its boundaries. (2) Such easements shall be subject to the approval of the Director of Public works or his designate as to their loca- tion and width. (3) The construction of any services in such easement or easements shall not commence until the easement has been acquired, unless permission to do so has been obtained by the owner, in writing, from the Town and from the registered owner of the lands across which the easement shall lie. 16. SERVICE CAPACITY This Agreement shall be subject to the owner entering into satis- factory arrangements with the Town and the Regional Municipality of Durham with respect to the allocation of sewage treatment plant capacity and water capacity for the development. 17. GENERAL PROVISIONS - SERVICES The Owner agrees with the Town: (a) Paving of Driveway Approaches To pave all driveway approaches between the curb and side- walk, or, where no sidewalk is to be provided, between the curb and the lot line. - 8 - 17. GENERAL PROVIS PART 2 - SERVICES (Cont'd) S - SERVICES (Cont'd) (b) Continuation of Existing Services Where the construction of services herein involves a contin- uation to existing services, to join into the same, including adjustment of grades where necessary, in a good and workman- like manner. (c) Public Lands - Fill & Debris (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 the actual construction of roads in the plan of subdivision with- out the written consent of the authority responsible for such lands. (ii) On request, to supply the Town with an acknowledgement from such authority of the owner's compliance with the terms of subclause (i), above. (iii) That there shall be no burning of refuse or debris upon its lands or any public lands. (d) Construction Traffic Wherever possible, to ensure that construction traffic serv- ing the development of this plan does not use roads, in this plan or adjacent plans, having occupied residential units fronting thereon. (e) Qualitative or Quantitative Tests The Director of Public Works may have qualitative or quanti- tative tests made of any materials which have been or are proposed to be used in the construction of any services required by this Agreement, and the cost of such tests shall be paid by the Owner within thirty (30) days of the account being rendered by the Town. (f) Relocation of Services (i) To pay the cost of relocating any existing services and utilities caused by the subdivision work within thirty (30) days of the account for same being ren- dered 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. (g) 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. (h) Temporary Signs 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 designated by the Director of Public Works. - 9 - PART 2 - SERVICES (Cont'd) 17 GENERAL PROVISIONS - SERVICES (Cont'd) (i) Permanent Signs To provide and erect at its own cost, of the Town, permanent signs of such locations as may be designated by the Works. (j) Engineering Drawings to the specifications nature and at such Director of Public Prior to the final acceptance of the subdivision, to supply the Town with the original drawings of the engineering works for the plan of subdivision, with amendments, if any, noted thereon. (k) Survey Monuments & Markers Prior to the acceptance of the subdivision by the Town, to supply a statement by an Ontario Land Surveyor that, after the completion of the subdivision work, he has found all standard iron bars as shown on the registered plan, and survey monuments at all block corners, the ends of all curves, other than corner roundings and all points of change in direction of streets on the registered plan. - 10 - PART 3 - CONSTRUCTION & OCCUPANCY OF BUILDINGS 18. CONSTRUCTION & OCCUPANCY OF BUILD (1) The Owner agrees that no building permit shall be issued for any building or part of a building in the subdivision until sewer and water facilities are available, and in the opinion of the Director of Public Works, capable of providing ade- quate service. (2) The Owner further agrees that no building or part of a build- ing in the subdivision shall be occupied except upon the issuance of a municipal occupancy permit. (3) It is agreed that no application for a municipal occupancy permit for a building or part of a building shall be made except upon the following conditions: (i) Sewer and water facilities are installed and in opera- tion to adequately serve such building or part thereof; (ii) Electric service is completed and in operation; (iii) An asphalt base has been laid on the road immediately in front of the building or part thereof and extended to an existing maintained public road; and (iv) Such curbs, as in the opinion of the Director of Public Works, are required to be completed prior to occupancy have been constructed on the said road and extend to an existing maintained public road. (4) (a) The Owner agrees with the Town that should any building or part thereof in the plan of subdivision be occupied without the prior issuance of a municipal occupancy permit, then in that event, the Owner shall pay to the Town, the sum of $1,500 for each building or part thereof so occupied as liquidated damages therefor. (b) The issuance by the Town of municipal occupancy permits for each and every building on any lot or block in the plan of subdivision shall be deemed to be a release from the provisions of this subsection with respect to that lot or block. 19. TIME LIMIT FOR CONSTRUCTION The Owner agrees to construct or cause to be constructed, in the plan, six (6) housing units, the first four (4) of which shall be completed within two (2) years of the date of registration of the plan, and the remaining two (2) of which shall be completed within two (2) years of the date of commencement of construction of a municipal roadway upon the lands which are the subject of the conveyance referred to in section 14. 20. DESIGN PLANNING (1) (a) The Owner agrees that, prior to the issuance of any building permit for the construction of any residential unit on the lands, it shall submit to the Town's Direc- tor of Planning, for approval, a report outlining siting and architectural design objectives for the subdivision. - 11 - PART 3 - CONSTRUCTION & OCCUPANCY OF BUILDINGS (Cont'd) 20. DESIGN PLANNING (Cont'd) (b) This report may be required, at the Director's option, to provide the following information: (i) house massing; (ii) streetscape; (iii) exterior materials and colours; (iv) architectural style; (v) visual variety; (vi) energy conservation measures; and (vii) any other data or information required. (2) (a) The Owner further agrees that, prior to the issuance of any building permit for the construction of a resi- dential unit to be erected on the lands, it shall submit to the Director, for approval, site plans and architec- tural drawings for that unit. (b) These plans and drawings may be required, at the Direc- tor's option, to provide the following information: (i) the location of all buildings and structures to be erected and the location of all facilities and works associated therewith; (ii) the location of landscaping features, including trees to be preserved; (iii) streetscape for front and rear elevation at a scale acceptable to the Director; (iv) streetscape to show all street furniture and veg- etation; (v) the relationship of buildings by blocks; and (vi) any other data or information required. - 12 - PART 4 - FINANCIAL MATTERS 21. FINANCIAL PAYMENTS (1) The Owner agrees to pay to the Town a unit levy in the amount of $1,500 per unit, for each dwelling unit for which a build- ing permit is received. (2) No building permit shall be issued for any dwelling unit unless payment of the unit levy shall have been made in advance of the issuance of such permit with respect to such dwelling unit. (3) Payments of such levies shall be made to the Town from time to time as building permits are required. (4) In any event, the Owner shall pay all levies due under the provisions of this section in full, no later than eighteen (18) months from the date of registration of the plan. (5) A letter from the Clerk of the Town advising that the unit levy has been paid shall be deemed to be a release of this section for the lands referred to in the said letter. 22. LETTER OF CREDIT The Owner shall, immediately prior to the registration of the plan, deposit with the Town, an irrevocable bank letter of credit payable to the Town, in a form satisfactory to the Town, for the sum of $9,000 as security for: (a) the payments referred to in section 21 hereof; and (b) the payment of liquidated damages referred to in subsection (4) of section 18 hereof. 23. GENERAL PROVISIONS - FINANCIAL MATTERS The owner agrees with the Town: (a) Tams To gay the taxes in full on all the lands included in the said plan of subdivision, as required by law from time to tine. (b) Lood Improvements Prie to the release of the plan for registration, to prepay any outstanding local improvement charges which are levied against any of the lands in the said plan of subdivision. (c) Interest To By interest at the rate of eighteen per cent (18%) per an®i to the Town on all sums of money payable herein which anenot paid on the due dates calculated from such due dates. (d) Reistration Fees To ?ay all registration costs incurred by the Town relating in any way to the registration of the plan of subdivision or av_eother related documentation, including transfers, in the Lai Titles office. - 13 - PART 4 - FINANCIAL MATTERS (Cont'd) 23. GENERAL PROVISIONS - FINANCIAL MATTERS (Cont'd) (e) Lien or Other Claims upon applying for financial acceptance of the subdivision, 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 in connection with the subdivision, or if such claims do exist, the Owner agrees to indemnify the Town against all claims, actions or demands for mechanics' liens or otherwise and all costs in connection therewith. 24. EXPIRY OF SECURITIES (1) The Owner further agrees that should any security required to be given under the terms of this Agreement expire during the currency of the Agreement, the Owner shall provide to the Town at least thirty (30) days in advance of the expiry date of that security, a further security to take effect upon the expiry. (2) Such further security shall be to the satisfaction of the Town. (3) Should no such further security be provided as required, then the Town shall have the right to convert the expiring secur- ity into cash and hold the cash in lieu of and for the same purposes as any further security. 25. TERMINATION OF LEVY/OCCUPANCY SECURITY (1) The letter of credit required to be deposited with the.Town pursuant to the provisions of section 22, above, may only be terminated or cancelled by the Owner after the Municipal Occupancy Permit for the last residential building or part thereof to be constructed on these lands has been issued by the Town. (2) Notwithstanding the provisions of subsection 1, the Owner may, from time to time, apply to the Town Treasurer for a reduction in the amount of the letter of credit referred to in subsection 1, as Municipal Occupancy Permits are issued. - 14 - PART 5 - PARKS & TREES 29. PROVISION OF PARKLAND Upon the registration of the final plan herein, the owner shall pay to the Town the sum of $3,675, and the Town agrees to accept such payment in lieu of a conveyance of lands for park purposes. 27. FENCING The Owner shall erect, upon the completion of the final grading and the seeding or sodding of Lots 1, 2 and 3, a permanent fence of nine and three-quarter (9-3/4) gauge, nine (9) strand, galvan- ized steel farm fence, 1.22 metres high, having a maximum 0.10 x 0.40 metre mesh, along the entire southerly and easterly bound- aries of the subdivision. 28. LANDSCAPE PLANNING (1) The Owner agrees that prior to the issuance of building per- mits for any of the units to be erected on the lands, it shall submit a landscaping plan for all of the lots and blocks on the plan to the Town for approval. (2) The owner further agrees that upon approval by the Town of a landscaping plan, the landscaping works shown on the plan shall be constructed, installed or planted, as the case may be, in conformance with the landscaping plan according to the time limits set out in Schedule "A". 29. TREE PLANTING (1) The Owner shall plant on the lands, trees of a size, number and type acceptable to the Town. (2) 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) A list of acceptable tree species and sizes will be provided. (4) The trees approved by the Town shall be planted by the Owner no more than six (6) months after final grading is done in the specified area. (5) (i) The Owner shall provide at least one (1) tree per residential unit in the subdivision. (ii) Where the density is too great to enable this quota to be met, the owner shall provide $50 per unit for tree planting in a public land area within the community in which the plan is located. 30. TREE PRESERVATION (1) The Owner agrees to retain, at its own expense, a qualified expert in order to determine which of the existing trees shall be preserved. - 15 - PART 5 - PARKS & TREES (Cont'd) 30. TREE PRESERVATION (Cont'd) (2) The aforementioned qualified expert shall prepare a Tree Preservation Program, which program shall be submitted to the Director of Planning and shall not be put into effect until it has received the approval of the Director of Planning. (3) In determining whether or not to approve the Tree Preserva- tion Program, the Director shall be governed by the Town Tree Preservation Guidelines in effect as at the date hereof. - 16 - PART 6 - GENERAL PROVISIONS 31. 32 33 34. 35 36. LICENCE TO ENTER The Owner agrees with the Town to retain a licence from any sub- sequent purchaser of the aforesaid lands to enter upon such lands in order to comply with the provisions of this Agreement. CELLATION OF AGREEMENT In the event the complete plan of subdivision is not registered on or before December 31st, 1982, the Town may, at its option on one month's notice to the Owner, declare this Agreement to be null and void with respect to any unregistered portion of the plan. NOTICE Any notice required to be given hereunder may be given by regis- tered mail addressed to the other Party at its principal place of business and shall be effective as of the second day immediately following the date of the deposit thereof in the Post Office. ENCUMBRANCERS The Encumbrancers agree with the Town that this Agreement shall have priority over and take precedence over any rights or interest affected hereby, whether or not any such right or interest was established or arose prior to the date hereof and whether or not such right or interest 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. INTERPRETATION (1) Whenever in this Agreement the word "Owner" and the pronoun "it" is used, it shall be read and construed as "Owner or Owners" and "his", "her" or "their", respectively, and the number of the verb agreeing therewith shall be construed accordingly. (2) The provisions in Schedules "A", "B" and "C" attached hereto shall form part of this Agreement. TIME Time shall be of the essence of this Agreement. 37. BINDING PARTIES This Agreement and everything herein contained shall enure to the benefit of and be binding upon the Parties hereto, their succes- sors and assigns. - 17 - PART 6 - GENERAL PROVISIONS (Cont'd) IN WITNESS WHEREOF, the said Parties have hereunto affixed their Corporate Seals attested to by the hands of their proper officers in that behalf fully authorized. SIGNED, SEALED & DELIVERED OAKPICK INVESTMENTS LIMITED Per: Per: THE CORPORATION OF THE TOWN OF PICKERING Mayor SCHEDULE "A" 1. TIME LIMIT FOR WORK & GUARANTEE FOR WORKMANSHIP & MATERIALS (1) Save as herein otherwise provided, the Owner agrees to com- plete the works required under this Agreement within the time limits specified in the Table set out below and to guarantee the workmanship and materials for a period of two (2) years from the date that the said works are approved in writing by the Director of Public Works, the Director of Parks and Recreation, or the Director of Planning, as the case may be. (2) Any works other than that specifically provided for in the Table shall be completed within the time limit provided for therein for aboveground services. Table 2. 3. Works (a) Underground Services (Lots 1, 2, 3 and westerly 15 metres of Block 4) Time Limit For Completion One year from the date of the registration of the final plan of subdivision (b) Underground Services (easterly 30 metres of Block 4 and Block 5) (c) Aboveground Services (Lots 1, 2, 3 and westerly 15 metres of Block 4) (d) Aboveground Services (easterly 30 metres of Block 4 and Block 5) One year from the date of com- of construction of a municipal road on part of Block 5 Two years from the date of the registration of the final plan of subdivision Two years from the date of com- mencement of construction of a municipal road on part of Block 5 PHASING Neither the registration of this development of this subdivision amendment to this Agreement. plan nor the construction and shall be phased without a prior DEMOLITION OF EXISTING BUILDINGS All structures on any lot or block in the lands comprising the plan of subdivision shall be demolished by the Owner, at its sole expense, prior to the issuance of any building permit for that lot or block. 4. ACCESS TO McLEOD CRESCENT Prior to making application for a building permit for any of Lots 2, 3 and Block 4, the owner shall obtain access to McLeod Crescent for all of Lots 2, 3 and Block 4, through the acquisition, by the Owner, of Blocks 37, 36 and 35, respectively, on Draft Plan 18T- 80002. SCHEDULE "B" 1. INDUSTRIAL/COMMERCIAL COMPONENT (1) The Owner shall construct within the Town industrial or commercial buildings having of not less than 557.4 square metres, and 40 (industrial) - 60 (residential) ratio, thereby to six (6) credits upon which the residential building unit permits may be of Pickering, a total floor area based on the Town's shall be entitled same number of issued. (2) The required industrial or commercial buildings shall be com- pleted as follows: (a) the first 371.6 square metres shall be completed on or before December 31st, 1984; and (b) the remaining 185.8 square metres shall be completed on or before December 31st in the third year immediately following the year in which the commencement of construc- tion of dwellings on the easterly thirty (30) metres of Block 4 occurs. (3) If, on the 1st day of January, 1985, the required industrial or commercial buildings have not been constructed, then the owner shall pay annually to the Town on the 15th day of Jan- uary in each year, commencing January 15th, 1985, liquidated damages in the amount of $350 for every 92.9 square metres or part thereof of the required industrial or commercial build- ings not constructed on each January 1st. (4) The Owner shall leave deposited with the Town, its perform- ance guarantee in the amount of $10,500 to guarantee the satisfactory completion of the required industrial or com- mercial buildings on or before the dates set out in subsec- tion (2), above, and to secure the payment of any liquidated damages that may become payable under subsection (3), above. (5) Alternatively, in lieu of the construction of the buildings referred to above, the Owner may pay to the Town, in cash or by certified cheque, prior to registration of the plan, the sum of $9,000, and be entitled thereby to six (6) credits upon which the same number of residential building permits shall be issued. SCHEDULE "C" 1. SERVICING ALTERNATIVE - STORM SEWERS Notwithstanding the provisions of section 4 of this Agreement, the Owner may pay to the Town, prior to the registration of the plan, the sum of $1,960 by cash or certified cheque and thereby be relieved from any and all obligations imposed upon it by that section with respect to Lot 1 and Oakwood Drive. 2. SERVICING ALTERNATIVE - ROADWORKS Notwithstanding the provisions of sections 5, 6 and 7, the Owner may pay to the Town, prior to the registration of the plan, the sum of $2,300 by cash or certified cheque and thereby be relieved from any and all obligations imposed upon it by those sections with respect to Oakwood Drive. r r C VHHHC] r• J 0 O 0 HE £ K o ?$ 7 S Hx0 U) r•r•MO H ?aroo0 N r• O rt 0rr :r ::szm0 rt Fl w ror• m n0 a P' P. w w (U r l] J O AL M M r(D r SL z H x r? O C7 y 0 ro O 0 O x r I ro? H H H H H ? x O a z m d CA I H O zro G1 z x H t+7 H O E z