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HomeMy WebLinkAboutBy-law 700/77REPEALED RY REPEALS AMENDED BY AMENDS DISPOSITION THE CORPORATZOW OF THE TOWN OF PICKERING 4 BY-LAW NUMBER Being a By-law of the Corporation of the Town of Pickering to authorize the execution of an Offer to Purchase hetween the Town and Bramalea Limited (Part 4, Plan 40R-33€33) THE COUNCIL OF TH.1 CORPORATION OF THE TOWN OF PICKERING HEREBY ENACTS AS FOLLOWS: 1. That the Mayor and Clerk be authorized to execute an Offer to Purchase between the Corporation of the Town of Pickering and Bramalea Limited with respect to r)rcperty being Part 4, Plan 40R-3303, Town of Pickering. By-law read a first,,second and third time and PASSED this day of t , 1977. n t / ayor -- Yr Clerk OFFER TO PURCHASE The undersigned, BRAN#AZ,EA LDIITED, (the "Purchaser") , having inspected the real property agrees to and with The Corporation of the Town of Pickering (the "Vendor") through no agent to purchase and the Vendor agrees to and with the Purchaser to sell, all and singular the lands situate in the Town of Pickering being part of Lot 18, Range 3, Broken Front Concession, designated as Part 4 on Flan 40R-3303, all more particularly outlined in red on the sketch or survey dated September 29, 1976 prepared by B. K. Edwards, O.L.S., attached hereto as Schedule "A" (the "lands") consisting of 6.804 acres upon the followin?j terms and conditions 1. The purchase price for the lands shall be the sum of THREE HUNLi.LD AND SFVENTY-FOUR THOUSAND TWO HUNDRED AND, TWENTY DOLLARS ($374,220.00) ?Canadian) payable as follows: (a) The sum of SEVENTEEN THOUSAND DOLLARS ($17,030.00) by cheque to the Vendor as a deposit to be held in trust by the Vendor until closing of the sale or other termination of this Agreement, and to be credited on account of the purchase price on closing; (b) The further sus, of THREE HUNDRED AND FIFTY-SEVEN THOUSAND TWO HUNDRED AND TWENTY DOLLARS ($357,220.00) by certified cheque to the Vendor on the date of closing, subject to adjustment of realty taxes. 2. The date for closing referred to above shall be on or before October 15, 1977 and the Purchaser shall have the option to advance the closing date upon providing the Vendor with ten (10) days prior written notice. 3. The purchase price for the lands is calculated on the basis of FIFTY--FIVE THOUSAND DOLLARS ($55,000.00) per acre <rd in the event that the lands contain moreor less than 6.804 acres as determined by a survey prepared by an Ontario Land Surve::yor, at the Vendor's cost, then the purchase price shall be increased or decreased on a pro rata basis and the balance of the sale price 2 - due on closing shall be adjusted accordingly. 4. The Vendor regrese,its and warrants as follows (a) that the lands are zoned M-2 and M-2S and shall continue to be zoned M-2 and -2S until the date specified in Paragraph 6(a) hereof or any permitted extension thereon, which shall permit the Purchaser to construct the industrial building required to be constructed by the provisions of Section 6(a) hereof; (b) that the lands have been fully serviced to the boundary of the lands with watermains, storm and sanitary sewers, and paved roads, and that such services are functioning and that the Purchaser shall be able to connect to such services; (c) that a building permit is available and shall be available until the date specified in Paragraph 5(a) hereof or any permitted extension thereof and such building permit shall be issued by the Vendor upon application by the Purchaser to the V,,:2ndor and upon payment of normal application fees and upon compliance with all relevant building law- in the event that a building permit is not issued by the Town of Pickering within three (3) weeks of application by the Purchaser as aforesaid, then the date speciied in Paragraph 6(a) shall be extended one day for every day beyond the said three (3) weeks that is required for the building permit to be issued. 5. The Purchaser or its agents shall have the right to enter upon the lands to conduct soil tests. The Purchaser shah provide the Vendor with a copy of any such soil test and in the event that in the sole opinion of the Purchaser, such soil tests prove that inadequate soil conditions exist for the construction of the proposed building by the Purchaser, the Purchaser small notify the Vendor prior to October 1, 1977 whereupon this Agreement shall be null and void and the deposit ran-net's shall be returned to the Purchaser without deduction. - 3 - 5. The following covenants on the part of the Vendor and the Ptircha.ser shall rot merge upon the delivery of a deed by the vendor to the Purchaser; or the reuistration thereof, but shall survive the closing of this transaction: (a) The Purchaser shall commence to construct a building containin. no less than 100,000 square feet in compliance with the M-2 and 1-2S zoning by-laws of the Town of Pickering within nine (9) months from the date of c?.osing, subject to the following conditions: (i) the building shall be designed so that the numbcr of. tenants shall be no more than one (1) tenant per thirty thousand (30,000) square feet of building, however, the Purchaser shall be permitted to lease to each tenant more than or less than thirty thousand (30,004) square'feet. ` (ii) fifty thousand (50,000) square feet o the building shall be used for office and/or manufacturing uses; and (iii) no shipping or receiving shall be permitted on the Brock Road side of the building. (b) ?n the event that it is necessary for the Purchaser to make an application for a miner variance with respect to the building proposed herein, then the date specified in Paragraph 6(a) above shall be extended by the same number of days that are required for the minor variance applicat- ion to be approved in final form, including the expiry of any appeal ;.)eriods. (c); If all or any part of the lands is to be sold within fifteen (15) years of the date of closing and the la-.d to be sold has no building built in compliance with the M-2 and M-2S zoning by-laws built upon it, then in that event, the Vendor shall have the first right to repurchase 4 such real property to be sold at the price of FIFTY- FIVE THOUSAND DOLLARS ($55„000.00) per acre plus interest thereon at eight (8%) per cent to the time of resale, and including taxes and improvements, free of all encumbrances and subject to the usual adjustments, such right to repurchase to be exercised within fourteen (14) days of receipt of notice from the Purchaser that the property is to be sold, and such repurchase to be completed within sixty (60) days of receipt of such notice if the said right of repurchase is exercised. The Purchaser shall send :o the vendor at its blur.ici,?al offices, by prepaid registered mail, a notice in writing forthwith upon offering such part of its lands for sale.. If the Vendor does not exercise the ria.11t of repurchase, no further notice of the Purchaser's desire to sell shall be required, nor shall there by any further right to repurchase. The Vendor and Purchaser agree that the provisions of this subparagraph 6(c) shall riot apply to the sale of all the lands to a subsequent purchaser who shall. agree to construct the building specified in Paragraph 6(a) hereof on the terms and conditions conta-ned in this Agreement and the Ver.or agrees that in the event of such a sale and the construction of the said building, the Purchaser shall obtain full credit against the industrial building require=Vents imposed on the Purchaser in relation to residential development in the Town of Pickering. 7. This Agreement shall be subject to the Vendor complying with Section 29 of The Planning Act of Ontario and any amendments thereof. In the event that a consent is required by the Committee of Adjustment or any relevant Land Division Committee, then the Vendor shall, at its expense, apply for such consent and diligently pursue same, If such consent is not obtained by the Vendor on or before closing, then this Agreement shall, at the option of the Purchaser, be extended until the date that such consent can be obtained or alternatively the Purchaser shall be able to terminate the Agreement and the sip paid as a deposit shall be repaid to the Purchaser forthwith without deduction. 8. Provided the title is good and free fro..: all encumbrances except as aforesaid and minor easements for hydro, gas, telephone or like services to the lands, provided such minor easements do not interfere with the siting and construction of the building referred to in Paragraph 5(a) hereof, said title to be examined by the Purchaser at its own expense, and the Purchaser is ,ot to call for the production of any title deed, abstract of title, proof or evidence of title, survey, other than those in Vendor's possession or under its control or as herein provided; and provided the same have been complied with, the Purchaser is to aczept the property subject to Municipal requirements, including building and zone-ng by-laws, except as herein provided, minor ease.ncznts as above-meitcioned, and to restrictions and covenants that run with. the land, provided same have been complied with and provided they do'not prevent the Purchaser from constructing a building; as specified herein. 9. The Purchaser to be allowed until closing to investigate the title at its own expense, and if within that time it shall furnish the vendor in writing with any valid objection to the title, or non-compliance with zoning by-law, or that the use of the property as set out herein which the Purchaser intends will not be lawful, which the vendor shall be unable or unwilling to remove or correct, and which the Purchaser will not waive, this Agreement shall, notwithstanding any intermediate acts or negotiations, be null and void and the deposit money returned to the Purchaser without interest or deduction and the Vendor shall not be liable for any costs or damag-s. 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. lo. Any notice herein provided for or permitted or required to be given hereunder, is given by the Purchaser to the Vendor shall be sufficiently given if mailed in one of Her Majesty's Post Offices by registered mail addressed to the Vendor at: - 5 - 1710 Kinston Road e PICKERING, Ontario Attention: Torin ;f.nagex and if given by the Vendor to the Purchaser shall be sufficiently given if mailed as aforesaid addressed to the Purchaser as follows: 1867 Yonge Street TORONTO', Ontario M4S IY5 Attention Morris Smith, Esq. with a copy to: Shiff, Gross Suite 800 1867 Yonge Street TORONTO, Ontario M4S 1R2 Attention Robert A. Partyka, Esq. any notice mailed as aforesaid, shall be conclusively deemed to have been given on the third business day following the. date of mailing. 11. Until completion of sale t:.e property shall be and remain at the risk of the Vendor. 12. Deed or transfer to be prepared at the expense of the Vendor on a form acceptable to the Purchaser's solicitor. 13. This Offer, when accepted by the Vendor, shall ccnstitute a binding contract of purchase and sale, and time in all respects shall be of the essence of this Agreement. 14. It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement or the lands or supported hereby, other than as expressed herein in writing. 15. Any tender of documents or money hereunder may be made upon the Vendor or Purchaser or upon the solicitor acting for the party on whom tender is desired, and it shall be sufficient that a negotiable certified cheque be tendered instead of cash. 15? Each partly to pay the costs of registration and taxes on is own docu=ments. 17. Time shall be of the essence of this Agreement. 1&. This Offer shall be open for acce=ptance by the Vendor until 12:00 noon on the 7th day of September 1977, after which time, if not accepted, it shall he null and void and the deposit returned to the Purchaser without interest or deduction. 19. This Agreement to be read with all chances of gender or numb equired by the context. DATED the 31st day of Auqust, 1977. IN WITNESS WHEREOF the F izchaser >:as hereunto affixed its Corporate Seal as attested by the hands of its proper o `icerrs duly authorized in that behalf. THE CORPORATION OF THE TOWN OF PICKERI':`G hereby accepts the above Offer and its terms and covenants, promises and acrees to and with the above-named Purchaser to duly carry out the same on the terms and conditions above-mentioned. DATED at Pickering, this 9d day of 1977. IN WITNESS WHEREOF we have hereunto set out hands and seals. THE CORPORATION CF THE TOWN, OF' PICKERI-l,G Per: 1 Ly- j' Per: ?-ttyi k ;L?A f; = ?'.0': a x .'tom aSvc 3 S.F-C- t?r4AC4? . 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