HomeMy WebLinkAboutBy-law 3650 Co POR ON OF TOWNSHIP OF PIC RIN
BZ- A NUmBeR
being a By-law to authorize
the execuffon of an Agreement
of Purchase and Sale and all
documents required to complete
the sale of a parcel of indus-
trial land in Lot 19 in Range 3.
WHEREAS Guy N. Chattier and Edward R. Mayernick,
as trustees, des[re to enter into an agreement of purchase
and sale for the purchase of a ~.5 acre parcel of industrial
land on the west side of Brock Road in Lot 19, in Range 3
of the Township of Picketing, at a price of $5,000.00 per acre.
AND WHEREA~ an Agreement has been prepared providing
for the payment of a deposit of $500.00 and pa~ent of a
further $~,500.O0 on closing and the giving of a one year
first mortgage for the balance of the purchase price, bearing
interest at 8% per annum.
AND WHEREA3 the said Agreement provides for the
reconveyance of the said lands to the Township, at the
option of the Township in default of the purchasers failing
to develop the property for industrial purposes as provided
in the said Agreement.
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF
THE TOWNSHIP OF PICI{ERING ENACT~ AS FOLLOWS:
1. The Reeve and Clerk are authorized to enter into
an Agreement of Purchase and Sale with Guy N. Chattier and
Edward R. Mayernick, as trustees, for a 4.5 acre parcel
of land in Lot 19, Range 3, on the west side of Brock
Road, at a price of $5,000.00 per acre.
2. The Reeve and Clerk are further authorized to
execute a Deed and all other documents necessary to
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complete the sale of the said property to Guy N. Char tier
and Edward R. Mayernick, as trustees, or to such person
as the said trustees direct.
READ a First, Second and Third time and passed in
open Council this ~/~/day of /~Z~A.D. 1969.
Clerk