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HomeMy WebLinkAboutBy-law 122/74THE CORPORATION OF THE TOWN OF PICKERING BY-LAW NUMBER ?G7nZ 7w BEING A BY-LAW TO AUTHORIZE THE EXECUTION OF AN OFFER TO PURCHASE BETWEEN THE CORPORATION OF THE TOWN OF PICKERING AND CAPTAIN DEVELOPMENTS LIMITED The Corporation of the Town of Pickering enacts as follows: 1. That the Mayor and Clerk be authorized to execute an Offer to Purchase dated the 21st day of October 19740 between the Corporation of the Town of Pickering and Captain Developments Limited By-law read a First, Second and Third Time and PASSED this day of jf?' , 1974. Mayor Clerk AGREEMENT OF PURCHASE AND SALE The undersigned The Corporation of the Town of Pickering (herein called the "Purchaser") having inspected the real property hereby agrees to and with Captain Developments Limited (herein called the "Vendor") to purchase all and singular that certain parcel or tract of land in the Town of Pickering in the Regional Municipality of Durham situate on the east side of Liverpool Road and being composed of parts of Lots 21 and 22, Concession 2 in the Town of Pickering, comprising 16.008 acres more or less, at the sale price of ONE HUNDRED THOUSAND DOLLARS ($100,000.00) of lawful money of Canada, payable cheque ONE THOUSAND DOLLARS ($1,000.00) to the Vendor as a deposit to be held by the Vendor pending completion or other termination of this agreement to be credited on account of purchase money on closing, and the Purchaser agrees to pay a further sum of NINETY-NINE THOUSAND DOLLARS ($99,000.00) in cash or by certified cheque on closing. This offer is conditional upon the following: 1. The Vendor will be dedicating to the Purchaser a part of Lot 22, Concession 2, in the Town of Pickering, comprising 8.423 acres more or less, and such land shall be subject to a right-of-way for the Vendor for the purposes of access by the Vendor to a two acre parcel to be retained by the Vendor. Said right-of-way shall extend along the southerly boundary of the said 8.423 acre parcel and shall be 33 feet in width. Said right-of-way is to be maintained by the Vendor and it shall not call upon the Purchaser to maintain said right-of-way in any manner whatsoever. 2. This offer shall be subject to the Vendor obtaining on or before the date fixed for closing a variance from the Town of Pickering's Committee of Adjustment to permit the Vendor to construct a dwelling unit on the two acre parcel being retained by the Vendor. If such variance is not obtained this offer shall be null and void and the deposit returned to the Purchaser. 3. It is understood and agreed that the deed to be given on closing will contain a covenant that the Vendor will fence its two acre parcel. 4. It is further understood and agreed that said deed shall also contain a covenant of the Vendor that it will not request the Purchaser to install municipal services to the two acre parcel owned and being retained by the Vendor. 5. It is further agreed and understood that said deed will contain a covenant whereby the Vendor will grant to the Purchaser the first right of purchase by the Purchaser of the two acre parcel being retained by the Vendor. Provided the title is good and free from all encumbrances except as aforesaid and except as to any registered restrictions or covenants that run with the land providing that such are complied with. The Purchaser is not to call for the production of any title deed, abstract, survey or other evidence of title except such as are in the possession of the Vendor. The Purchaser is to be allowed 20 days from the date of acceptance hereof to examine the title at his own expense. If within that time any valid objection to title is made in writing to the Vendor which the Vendor shall be unable or unwilling to remove and which the Purchaser will not waive this agreement shall, notwithstanding any intermediate 2 - acts or negotiations in respect of such objections, be null and void and the deposit shall be returned by the Vendor without interest. Save as to any valid objection so made within such time the Purchaser shall be conclusively deemed to have accepted the title of the Vendor to the real property. This transaction of purchase and sale is to be completed on or before the 15th day of November , 1974 on which date vacant possession of the real property is to be given to the Purchaser unless otherwise provided herein. This offer when accepted shall constitute a binding contract of purchase and sale and time shall in all respects be of the essence hereof. It is agreed that 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. All buildings and equipment upon the real property shall be and remain at the risk of the Vendor until closing. Pending com- pletion of the sale, the Vendor will hold all insurance policies and the proceeds thereof in trust for the parties as their interests may appear and in event of damage to the said premises the Purchaser may either have the proceeds of the insurance and complete the purchase, or may cancel the agreement and have all monies theretofore paid returned without interest. Deed or transfer to be prepared at the expense of the Vendor and mortgage at the expense of the Purchaser. If Vendor is a trustee, deed or transfer is to contain trustee covenants only and mortgage is to be on Vendor's usual long form. Any tender of documents or money hereunder may be made upon the Vendor or the Purchaser or any party acting for him and money may be tendered by negotiable cheque certified by a chartered bank or trust company. This offer and its acceptance is to be read with all changes of gender or number required by the context. This offer shall be irrevocable by the Purchaser until one minute before midnight the 1,,)? day of ?od t•Srl? , 1974, after which time, if not accepted, this offer shall be null and void and deposit returned to the Purchaser without interest. DATED at Pickering this 21st day of October A.D. 1974. IN WITNESS WHEREOF the Purchaser has hereto affixed its Corporate Seal duly attested by the hands of its proper officers authorized in that behalf. THE CORPORATION OF THE TOWN OF PICKERING Mayor Clerk DATED at willowdale this 29th day of October A.D. 1974. IN WITNESS WHEREOF the Vendor has hereto affixed its Corporate Seal duly attested by the hands of its proper officers authorized in that behalf. CAPTAIN DEVELOPMENT LIMITED Pe / Jo ptyn - President RM& O ro kj z H 0 ro C z A. m ti7 A H rv H H z H H C7 rh t? d C, mr 0 ro z 7. H H O gH H 00 ro? ro0 H x H ts1 H H z czi o ro H W, M d H t9 d J ?P s