HomeMy WebLinkAboutKIN 98 072 Pchse/Sale-Holdings
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THE CORPORATION OF THE TOWN OF KINCARDINE
BY-LA W
BY-LAW NUMBER 1998 -72
OF THE CORPORATION OF
THE TOWN OF KINCARDINE
.
A BYLAW TO AUTHORIZE THE SALE OF LAND TO
CHARTER HOLDINGS INC.
WHEREAS Charter Holdings Inc. to purchase from the Town of Kincardine lands at the
intersection of highway 9 and highway 21 (south east comer) having an area of
approximately 8.2 acres, in the Town of Kincardine, in the County of Bruce and being
more particularly described on Schedule "A" ofthe Purchase & Sale Agreement.
NOW THEREFORE the Council for The Corporation of the Town of Kincardine
ENACTS as follows:
1. The mayor and clerk are hereby authorized to execute such documents, as they
may deem advisable to convey the lands described on Schedule "A", attached
hereto, to Charter Holdings Inc.
-. 2.
3.
4.
The sale price for the said lands shall be five-hundred and seventy-four thousand
dollars ($574,000.00).
This by-law shall come into full force and effect upon its final passage.
This by-law may be cited as the "Land Sale to Charter Holdings Inc. By-Law".
READ a FIRST and SECOND time this 17h day of December, 1998.
READ a THIRD time and FINALLY PASSED this 17thh day of December, 1998.
ß1k-æ~
Mayor
.
ðREA
'\ Oatadt.
a..1 ..t.te
A.......tt..
AGREEMENT OF PURCHASE AND SALE
(FOR USE IN THE PROVINCE OF ONTARIO)
IS
PURCHASER, ..,. ........................... ....... ........... .......Çhªrt~J .H9..I.~I.l}g~t~m~~... ..... ..... ..... ................................. ..... , agreM to purchase from
(FuR 1egaI_.....~
VENDOR, ..,..... ..... .................................... .çg.r.P.º~~.9.I1.~.;r!2t!?~ v~!n~ªf~.I.IJ.~.................. .................... ............. , the following
REAL PROPERTY:
;..................................y~~~~~.~~~~........ T~;~.~f·Ki~~~:g~~~.· ··~i:'::~··..··ide of.....~~~~~~~Y..~.~~t(tI.~.~ªL.
............. ..... .................... ................... .............................. ....... ..t.... ..... .~......... ..... ..... ........ ............... ..... .......... ..... ................
and having 0 frontage of... ........ ................................mor. or 1_ by 0 depth of............. ....... .................. ......... more or 1_ and legally delcribed 01
..T.º~O.ºf.~I.I1Ç.'-~'n~,. ç.9.~mb! .º,. "-~!;~. .~ºm~!~J!ng. g' ..P.P.fg~J~~~jy.~. ~!;~.g".~, ...9.~tþ.~~"J.~gm'r:. ºf.t.t~Þ.~..Y... ",..
.............................'-m~.~a'-.~'ml.mtrt.9.f.~ 1:£t~~_~J~~t2J .KJn~r.~.I.I1..........................u..(the .properff).
PURCHASE PRICE:.__........... .... .......~~~.~~~º~~º.~~.º.!~~~!Y.I~º~.~~~º... ..... _.." .__......... 0011011 (CDNS .._......~~º!ººº~ºº. ........
DEPOSIT:
Purch_ .ubmit'l.. ...v.p~m. Aç.ç.,p.~I1Ç.'..... J.... __.......... TItV.I;;NIY..f.IY.J;. II:1Q"'.$.~~.º................ DoIlal1 (CDNS .u..... ..~~.ººº~ø.ø...........
(HeoewithllJpon -...-.¡
c:oIh or negotiabl. cheque payabl. to..._........._.._........~~!.~~.~~~~.~~..~~~~~.~~~:.......__....._..........to be h.ld In trult pending completion or
other termination of thi. Agreement ond to be credited toward the PurchoIe Price on completion. Purc:holer ~ to pay the balance 01 follOWl:
By certified cheque to the Vendor on closing, subject to adjustments.
The parties agree that the deposit shall be held In an Inte....t bearing trust account with Intere.t accruing to the
benefit of the Purcha.er and to be paid to the Purchaser on closing.
The Purchaser .han b.permltt.d to choose the option. ..t out below. The Purcha.er shall advl.e the Vendor
within 180 da1ft' fromdalt~ oJ ac~eptan~e of this offer. of Its selected option.
. -,-~ -
The partlea.:acknowl~ge th.~ the Land area available Ie:
Option #1 0;8.2 .àcre6tS9uth-e~át comer of #9 & #21 highway
.n 112 .:;;.~ a~.~tof hJghwoy 1121, midway batwHn Dum.... & Ru..... _L
A8 more parUOLilarrY'setoÙt IHttow.
The parties acknowledge that this Is a true copy of our Agreement of Purchase & Sale accepted by both parties at
6:24 p.m. December 11, 1998.
SCHEDULE(SL ..._.......~~~:.~._~~~..........._..ottached hereto form(lI part of thi. Agreement.
1. CHÅnELS INCWDED:... ..... _......__. __... ........ ......, '....... __............. ..... ..... ...._..n!~.._ ....__.. ._... n.............. ..'" "". __... ..... __.. __.. ..... ..... ..... ....
~ __.. - - - _.. - ___ _._ ___............. _....... a-a __ _ _ _.._ __a _.a __ _____ __...____ __.. .__. _....._ ........ ....__.. ..______......_. ._.......... __.... ...__ _..... ........._.. _.. ......._...... _.__. ......... ...a" ___.................. ..._.._ ___~ __~_~ ~ ~._..
2. FIXTURES EXCLUDED:...... __ ..... ........ _......................... _....................... __..... D!~... __..... _................ __.... _....................... __. __... _....... _.....
-.-" "--- -_... - --- - .-- -- -" - -- - --- - - - - --. --" - --. -..-. -. ---.. --- -- - ---" --- --- ~- --.--. ~.-.._---- ~- - -- -_. - -----~ - -- --...... --- ----- - - --- -- ----.- - --- - ---.. -~_.. ~. -- -~-- ~ - - -.. --. ~_. - -- _.. -- - -" --" -.
3. RENTAL ITEMS: Th. following equipment i. rented and not indueled in the PurchOIe Price. The Purchaser agr_ to _ the rentol contract(s , if CIISUtnCIbI.:
.:=~:;~:::~~i:~~=~.:f:~}~!f~~.!~ø~·~::::;E-~~::~~:;~~i~=þ.!i:::::~·i·9~:::ªª::::····;
5. UCOMPLETImpl0et"'! DATE: This Agree.menlfshhall be cO~~1 beby ,,!O laI...theth~~~·_m.~!~!¡h.-..§~.--,:r~.K.fll$~.~..~.~.I.,.~~'~__....,-+9:-:_.........
pan co Ion, vacant poSSMSlOl\ 0 t . property m<JI g¡ven to run."........ un_ "" _.. prOVlaed for iñ mi' "tjr.emønt.
6. NOTICES: V.ndor hereby appoint. the listing Brok... os Agent for the purpoI8 of giving and receiving nolices pul1uont to thi. Agreement. Only If the Co-operating
Brokølr ...p.....n.. the in....... of the Purchaser in thi. tronIGction, the PurdIœer hereby appoints the Co.operotin~ Brok... os Agent for the purpose of
giving and rec.iving notices pursuant to thi. Agreement. Any notic. relating hereto or provided for h.rein .hall be in wrillng. Thi. off..., any counter offer, notic. of
acceptance thereof, or any notic. Iholl be deeined given and received, when hand deliv...ed to the oddr_ for..,.,ice provided in the Acknowledgement below, or
where a foaimil. number I. provided herein, when transmitted electronically to that foaimil. number.
FAX No....... __ __... _~ t~.~ª~_".~_?~.. . no'" __ __. (For doMy ........... 10 vendoo FAX No. ... ___........ .?Q.~:: ?~t~~.~ .~.. no." __ on" (for cW.-,'" noIïc. 10 ~
7. GST: If thi. tronlOdion is .ubject to Gooch and Servicel TOIl (G.S.T. , then IUCh tOll1hal1 be................T.l'1.:~~~~~.~~........--.........th. Pµrchase Pric..
If thi. transoction iI not IUbject to G.S.T., V.ndor agrees to certify on or before doling. that the tronsodion i. not IUbject to G.S. T.
8. TITLE SEARCH: Purchaser .hall be allowed until 6:00 p.m. on the See darof::: i#6 Schedule " A",-+9- , (Requi.ilion Dat.) to
examine the titl. to the property at his own expen.. and untnnèïiãflíërof:' (~ thiFtÿ·õäÿ'1föñilrn.ráíëi·ön¡;è·'Rèëjûisitioñ·[jåii¡'ör the dot. on which the
condition. in thi. Agr~ 0... fulfilled or otherwi.. waived or; (iij five days pnor to compIelion, to lOtidy himself that there ore no outltonding work orders
or debefici.I~~ulnotl ic.. ~ffuedecting tdh·hPropertyh ' t.hO! itslPbu~ldi t use l.'c.:.·~-.:.·.:':''.J''''..':''..1--'·c--r 1i·--·<'~~_.h~··~8~'~~'~'~'-'~::"'" ..,.,.--". --....:11:-. .---. ..-- .---. 1
may awr y conlin on t at t . pnnClpo I ng may DOlI 'nlllnlU again'" n'I< 0 Ire. v.naor er.,,!, consent. to tn. muntClpolity or omer gov.rnmenta
agencies releo.ing fo Purchaser details of 011 outstanding work orden affectiñg the property, and V.ndor agI'eM to execute and deliver IUch furth... authorization.
in this regard 01 Purchaser may reasonably require.
9. FUTURE USE: Vendor and Purchaser agree that th.... is no re5:tation or warranty of any kind that the future intended us. of the property by Purchaser iI
or will be lawful exc.'" 01 may be IpeCÌficolly provided for in thÎl eernent.
10. TITlE: Provided that the titl. to the property i. good and free from regiltered restrictions, charges, Ii.n., and encumbrances except 01 otherwise specifically provided in
thi. ~reement and IOV. and .xc.pt for (0) any regist.red restridionl or cov.nant. that run with the land providing that such ore complied with; (b) any regist.red
municipal agreemenl. and regiltered agreements with publicly regulated utilm.. providing such have been complied with, or IeCUrity has been posted to ensure compliance
and completion, 01 evidenced by 0 lett.r from the relevant municipality or regulated utility; (c any minor 80lemenb for the IUppIy of domestic utility or tel.phon.
..,.,ices to the property or adjacent properties; and (d any IKJI8I'I'IIII\b for drain~r storm or IOnitory ___. public utility lin.. tel.phon. lines, cobI. t.l.vision lin.s
or oth.r lelVices which do not materially aff.ct the present use of the property. If within the .pecified ti~ referred to in parogr;;h 8 any valid objection to titl. or to any
_nding work order or deficiency notic., or to the fad the ICIÎd ~ UM may not lawfully be continued, or that the principal building may not be ¡n.ured
st rillk of fire i. mode in writing to V.ndor and which Vendor i. unabl. or unwilling to remov., remedy or lOti.fy and which Purchaser will not waiv., this
,ernent notwithltanding any intermediate actl or negotiotionl in respect of IUCh obiections, IhaII be at on end and all monies paid .hall be retuméd without int.rest
öY'" deduction and V.ndor, lilting Broker and Co-operating Broker IhoII not be liabI. for any costs or domageI. Sav. 01 to any valid objection 10 mode by IUch
day and except for any objection going to the root of the titl., Purch_1haI1 be condUlively déemed to have accepted Veridor'. tm. to the property.
OREA Standard Form: Do not alter when printing or ...proc:luclng the standard p....... portion.
.fO.-..40IM
'- .... 101
01/97
Re/MtVt
11. DOCUMENTS AND DISCHARGE: Purchaser sholl not coli for the produdion of ony title deed, abstrad, survey or oth.r evidence of titl. to the property exé.pllUCh
as ore in the p'<?_ion or control of Vendor. If requested bv Purchol8r( V.ndor will deliv9f' any sketch or survey of the property within Vendor's contral to PurchQl8l' as ~
lOon a. poII,bI. ond prior to the R!lJquisition Date. If 0 discharg. 0 any Charg./Morfgag. held by a corporation incorporated punuant to the Trust and loon .
Compani.. Act (Canada), Chart.red Bank, Trust Company, Credit Union, Cai..e Populoire or Insurance Company and Which is not to be assumed ~ Purchaser
on cÖmpletion, i. not availoble in registrable form on completion, Purchaser ogr... to accept Vendor's lawyer's perlOnal undertaking to obtain, out of the dOling
funds, a discharg. in registrabl. form and to register .ame on titl. within 0 reasonable period of lime after cOmpletion, provided that on or before completion
Vendor .hotl provide to Purchaser 0 mortgage stat.ment pr.pored by the mortg<Jg84! setting out the balanc. required to obtain the discharg., together with a
direction executed by Vendor directing payment to the mortgagee of the amount ~uiied to obtain the dilCharge out of the balance due an completion.
12. INSPECTION: Purchoser acknowl~.. having hod the oPPOrtunity to In.pect the property and understandl thol upon occeptonce of thi. Offer
th.r. sholl be 0 binding agreement of purchas. an~ 101. between' Purchaser and Vendor.
13. INSURANCE: ~I building. on the propt!rty and 011 oIher things being purchaled Ihall be and remain until completion at the ri.k of Vendor. P.nding completion,
Vendor .hall hold allln.uranc. )Ç)Ilci.., if any, and the proceea. thereof in trust for the porti.. os th.ir inter.sts may appear and in the ev.nt of .ubstanlial dámoge~
Purchaser may either terminat. thi. AAreement and hav. 011 moni.. paid returned without int.r'" or deduction or .Ise tak. the ~ of any insurance or.
comølet. the purcha... No in.uranc. sfioll be tran.ferred on completion. If Vendor i. taking bock 0 Charg./Morfgag.r or Purcha.er is alSuming a Chorge/Mortga,
Purchas.r .hall .upply V.ndor with r8OIOnabl. evidence of adequat. in.uranc. to protect vendor'. or oth.r mortgagee. interest on cC?"1Pletion. .
14. PLANNING ACT: Thi. Agreement sholl be eff.dive to create on inter.st In the pr~ only if V.ndor compli.. with the .ubc:fivilion control provilion. of tli
Planning Act bv completion and Vendor covenant. to proceed diligently ot his lIIC~se to obtain anr. nec~ry con..nt by cOl'!1Pletion.
15. DOCUMENT PREPARATION: Th. Transfer/Deed Ihall, lOVe for the land Trònsfer Tax Affidavi, be prepored in registrabl. form at the .xpense of Vendor, and
any Charge/Mortgo~ to be giv.n back by the Purchaser to Vendor 01 the lIICpet'1se of the Purchaser. If requested by Purchase!:! Vendor covenant. that the
Trond.r/Deed to 6e CIeIiv.red on completion Ihall contain the Itolemantl contemplated bv Section 50 (22) of the Plonning Ad, R.S.O. I v90.
16. RESIDENCY: Purchaser Ihall be credited towards the Purcha.. Pric. with the omount, i' any, nec.ssary for Purcha.... fo pay to the Minilt.r of Notionol Rev.nue to
.atisfy Purchaser'. liobil¡ty in respect of tax payabl. by V.ndor under the non-relidency provisions of the Income Tax Act Þy reason of thi. .ole. Purchaser.holt not
claim .uch credit if Vendòr deliv.rI on completion the prelCribecl certificol. or 0 Itatutory declaration that Vendor is nol then 0 non· resident of Canada.
17. ADJUSTMENTS: Any r.nt., mortgag. inter.st, really tax.. including local improv.ment rate. and unmet.red public or privol. utilily chargel ond unmetered COlI
of fuel, os aPDlicabl., .hotl De apportioned ana allowed to the day of é:ot:nP.Ietion, the day of ~etion itself to bè apportioned to Purclia.er.
18. TIME UMITS:' Time moll in 011 re.P.!Jd' be of the _ence hereof provideèl that the time for doing or completing of åny' matter provided for h.r.in IfI!JY be extended
or abridged by an ~reement in wnting .igned I?Y Vendor and PurchOlel' or by their relpective 1~.rI who may t)e .peClfically outhorized in that regard.
19. TENDER: Any tender of documents or mon!y' liereunder may be mode upon V.ndol' or Purchaser or th.ir respectlV. I~rs on the day set for completion. Money
IT10y be t.nd.red þy bank draft or cheque c.rtlfied by 0 Chortéred Bonk, Trust Company, Province of Ontario Sovingl Office, Credit Union or Cai... PoPulaire.
20. FAMILY LAW Ac:T: Vendor worrant. that spousal consent is nol neceøory to thi, tranlOdion under the provilÍon' of the Family low Act, R.S.O. 1990 unl_ V.ndor'.
SpoUM ha. executed the consent her.inaft.r provided.
21. UFft: V.ndor representl and warrant. to Purchaser that during the time V.ndor ha. owned the pl;operly, V.ndor ha. nol cau.ed any building on the property to be
insulated with insulation containing !lreoformoldehyd., and tfiat to the best of V.ndor'. knowlécfaè no building on the property cantain. or ha. _ Contained
insulolion that contains ureoformoldeh~. Thi. worranly sholl .urvlve and not met'Q4! on the compretion of thi. tranlOdion, and if the building i. port of a multipl.
unit building, thi. warranty .hall only apply to that port of the building which i. the .ubject of Ihl. tranlOdion. .
22. CONSUMER REPORTS: The Purcha..r II hereby notified that a consumer report containing credit artd/or perianal Information may be referr.t to In
connection with thlt! transaction.
23. AGENCY: It i. unde!'ltood that the brokerl involved in the tranlOdion "'pN..nt the porti.. a. let out In the Confirmation of R~tation below.
24. AGRIIMINT IN WRITING: If there I. conflld ~n any provlalon added to thl. Aa,..ement (including any Schedule attached heret0l and an)' provl.lon
In the Itandord pnp·.et portion hereof, the added provl.lon Ihall .uperlede the Itonàord pre.... proyl.I9'I fo the extent of .uch conti d. Thl. Agreement
Including any Schedul. attached h.reto, .hallconstitute the .ntlre Agreement between Purchås.r and Vendor. There I. no ,."resentatlon, warranly, collat.ral
agreement or condition, which aHect. this Agreement other than CIS expreued herein. ThÎl Agreement IhoII be ntod with otlchlJl'lgel of gender or number
required bv the context.' . _ .
25. SUCCESSORS AND ASSIGNS: Th. h.irl, executorll odminiltratorl, IUCC8IIOrI and OIIÌgn. of the unclerligned ore bound ~ Ih. ter~ neréíri.' - . _
tff- . -' '.
DATED 01..............._............. .~~.~~~~r.~~g~. _.................. ......... ,thi... ....It.................day 0'-............ .~!#~~~. _~.... ..:';,19 ..;....~~......
SIGNED, SEALED AND DELMRED in the pr_nc. of: IN WITNESS whereof I hav. hereunto'" my hand and MOl: , : . c' :::. : ,_,::
j\Vi...¡..... ..... ..." .......... .......... m............·.· ...... ~---..................... Chartë¡; 'HoiCiloS;s 'Io"ë: ..!. DATlO ] :':--Ó/mm --.
j\";'¡iiio¡ ........................,............. -......... ........... (Ffit!..~......9:.. y:.!f.... .......... ~.... .......... !. DA'fE,," ¡J¥-:.l?¡ly...........
I, the Underligned Vendoa=.ee to the above Offer. I h.,..by Irrevocably Inltrud my I~er to PØ.Y directly to the Lilting Broker the ttnpO/dbalanC8 of the commiAion
together with appllcabl. and Servlc.. Tax (and any other taxel CIS may herèafter be applicable), from the proCeedI of the 101. prIor to any payment to the
uriëletligned on ~etion, a. odvi.ed by the Ulting Broker to my lawyer.
DATED at.................,........ _..... ~~~.~~~I.~~....... ._.. ..... ............... ..hi..... .... ..... .............. .day of............. .º~~~~~~.r... .......... .19.......~.~......
~;::::~Et:::¡F'~..:~~~7;:~inë ! DATE --QR"QJ,b{,Q~,
(Wi~.Q~.:. .~........... .~.. ........ ....... .............. ~:..~... ..~.. ..... ............... ! DATE ·O~C-.· {..lRL.t$......
SPOUSAL CONSENT: The Undersigned Spouse of the Vendor hereby cons.nts to the di.positlon evidenced h.rein punuant to the provisions of the Family low Ad,
R.S.O. 1990, and hereby ogreM with the Purchaser that h./Ih. will execut.all nllCellOry or incidental document. to give full forc. and.ffèct to th.lOl. evidenced herein.
¡w.¡;;.¡.¡¡ ....._...,.............h ...........,..................,... (~. .................... h.........._.............................· ! DATE ..........,... ,.................,.
CONFlRMAßON OF EXECUTION: Notwithstanding anything contained herein to the contrary, I contII'm ,his Agreement with all chang.. both typed and written _ finally -...ted by
011 parti.. at... .~;~~L ..a:m:Tp.rn. thi'.m U ~h..... day of........ J~~Ç.~mþ.~f.... __....' 19.. ~~L . .................. __..........m...... .... ........ ......................
lSitI- of Vendor or Purchaør
CONFIRMATION OF REPRESENTATION
I hereby ocIcnowledge and confirm the Ulting Broker represent. the intlll'ell. of the I hereby acknowledge and confirm the Broker reprel8l1b the int.r....
in this transaction.
............. ...... .- Vend..,¡v...... ond ''''~I''''''''''
s;¡ñåM'iõl~tñõ·8i<i1åii· OÜI'
.
...,......... ........., .......... ......,.
Síòñiilüñi õI Uilr,;¡ -'-"'¡; åiAfIõñJioëf ~å\Mi""'" . ..... ...,..... .................. h - h'
Nome of lioIi.. &oIoor:
.........................-..-........................................................-..................................
Nome of Co-opeooting Brobr: ... ...... !!.Mª~. ~ª~~ .~~O~~.R'ªI.~.~~~!.......
( 619 1 396-7663 ( 619 1 396-6744
TëI:N.õ." ............. ....................... FAANõ: ........ .......... .......... .......... TëI.Nõ~" ........ ...... .... .......... ......... FAANõ.' ... ..... ........ ............ ..... .....
ACKNOWLEDGEMENT
I acknowledg. receipt of my .igned copy of thÎl accepted Agrøment of PurchaM and
Sale and I authorize the Agent to forward a copy to my lawrer.
DATE
¡v~öf·thë·TöWiiöfKinëä"fli1ë
¡v~.~......?....t'~~Q....\.b{.Ç(s....
Þ.dcf-. fotServb: ....~.1~.....IJa:-.LfALf.í.
)
.. ~................................. .......... ..................
I acknowledge receipt of my signed copy of thÎl accepted Agreement of Purchaø and
Sale and I authorize the Agent to forward a copy to my lawyer.
DATE
;üñ:ìiciiër¡.............. ·ëtNi¡:¡¡¡¡.'·'· ïci¡¡'¡¡¡.· ¡¡.¡c:" .................. ...............
(Pûichõiw¡--,ØL· .Til.....~.. ....... DATE /)u.lfllf................
AdcIr.. for Servb:
....-.........................................-..................--........................................._....-.....................
.-- .......- ............................................
......................................................................................-..........
Tel. No. (.......) ........................
...........-............................-............--.....-......-...........................
T.I.No. (
vendot'l \.awyw
Adchn
...... ......... .......... ---.............. ...-........................ ....---................... .......... ..-.. ......--..............
I'urchaør'I \.awyw
..................--......-.................-.........-..............-................................................-.......
Add_
...... ......... .......... ....-.... ..................................-.........................."'.......................-....... ..---.................... -....
-......--..--.--...............-.... ................................................................-............................-.. ....
(,..... ..I................. ....................(... . ... .I.................. ..... ..... ....__._..
Tel. No. FAX No.
I,.... ,..I........ ..... ............... ........ .1..,.... .1... ..... .......... ...... ......... ......
Tel. No. FAX No.
FOR OfFICE USE ON&. Y
.
COMMISSION TRUST iI\GJ&t\ENT
To: Co-operating Broker shown on the foregoing Agreement of Purchase ond Sol.:
In conlÏderation forth. Co-Operating Broker procuring the foregoing Agreement of Purchase and Sol., I h.reby declare Ihat all moneyl rec.ived or receivabl. by me in connection
with the Transaction as cont.mplated in the MlS Rul.. and Regulation. of my Real Estate Boord .hall be receivobl. and held in truIf. This agreement Ihall conlfitute 0 Commission
Trull Agreement 01 defined in the MlS RuI.. and .hotl be IUbjed to and governed by the MI.S Rul.. pertaining to Commi 'on Trust.
DATED CIS of the dole and time of the acceptonc. of the foregoing AgreMIent of Purchose and Sole.
by:
šiQ,·oãi';':';õiüitiñ.i 'Iir;¡iioi:cii~~~" ............. ....... ..... --....
,
.
.
.
.
SCHEDULE "A" TO THE AGREEMENT OF PURCHASE AND SALE
This SchedulÐ is attached to and forms part of the Agreement of Purchase and Sale between:
PURCHASER, CHARTER HOLDINGS INC.. and
VENDOR, THE CORPORATION OF THE TOWN OF KINCARDINE. for the
REAL PROPERTY
Address: Vacant Land, South-east corner of Highways #9 and #21 consisting of
Approximately 10 acres. more or less. in the Tovvn of Kincardine. County of Bruce and liS
more particularly described In Schedule "B" attached to this Agreement.
1 .
la)
The Vendor agrees to deliver to the Purchaser. within 14 days
after acceptance of this Agreement, copies of the Survey,
environmental and soil studies, if any. and any other documents
relating to this property presently in the Vendor's possession.
2.
(b) The Vendor agrees to, at its expense, retain an Ontario Land
Surveyor to prepare a Reference Plan of the lands described in
Schedule "B" attached hereto. The Surveyor shall certify 8S to
the total number of acres and fractions thereof correct to three
(3) decimal places contained in the property and the total
purchase price shall be an amount equal to the number of acres
and fractions thereof of the property as certified by the Surveyor
multiplied by $70,000.00 per acre provided always that the net
area shall not be less than ~ ac~ ~ ~
8.0 ~
This Agrement is CONDITIONAL upon the Purchaser, at its sole
obtaining and/or satisfying itself as to the following:
/.r
~"\6. .
~/ '.
f rt " .",
oo';on. ·0
(a)
(b)
Ie)
Id)
Ie)
(f)
the site and configuration of the property;
finalizing lease arrangements with a National tenant;
environmental and/or solis test;
building permit; and
commercial ingress/egress from Highvvay #21.
that the Official Plan and Zoning By-law applicable to the
property vvill permit the Purchaser to construct and operate....ln
this connection, the Purchaser hereby acknowledges and agrees
that any such Zoning By-law Amendment and Official Plan
Amendment shall be conditional upon compliance by the Vendor
with the Fair Hearing provisions as set out in Section 61 of the
PlanninQ Act, R.S.O. 1990, c. P.1 3, as amended.
3. The Purchaser shall have One Hundred and Eighty (180) days from the
acceptance of this Agreement by the Vendor by giving to the Vendor. the
Vendor's Agent or the Vendor's solicitor, written notice that the aforesaid
conditions have been met within the stated time; failing which this Agreement
shall be null and void and the Purchaser's deposit shall be returned forthwith
In full without penalty or deduction.
4. The Vendor and the Purchaser agree that the reproduction by way of facsimile
telecommunications device will be treated as though such reproductions were
executed originals and each party undertakes to provide the other vvith a copy
of the Agreement of Purchase and sale bearing original signatures within Ten
(10) days of the acceptance of this Agreement by the Vendor.
5. The Purchaser shall have the right to assign this Agreement to any person,
corporation or company to be incorporated (or combination thereof), and (he
Assignee shall be deemed to be the Purchaser as if the Assignee had originally
executed this Agreement.
6.
The Purchaser shall have Fifteen (15) days following the waiving of the
conditions herein contained to examine the titla and to make requisitions on
title.
7. Closing shall take place Fifteen (15t days after satisfying Paragraph #6 above.
.
SENT BY:WHfTE. JENKINS. DVNCAN:12-11-98
.
.
.
10:24
WHITE -
519 396 8288:# 4/ 5
- 2 -
8.
Notwithstanding the provisions of Paragraph 7 above, the parties hereto agree
that, in the event any person Appeals the Official Plan Amendment ("OPA") and
Zoning By-law Amendment ("ZSA") referred to Paragraph 2(f) of this Schedule
"A" and, if as a result of said Appeal(s), a further extension to the closing date
and conditional dates is required, the parties hereby agree to further extend the
closing and conditions of this transaction until such time as the Ontario
Municipal Board has made a final determination with respect to the aforesaid
OPA ðnd ZBA, provided further that the total of these extensions do not exceed
Three Hundred and Sixty-Five days (365) unless agreed upon by both parties.
In the event of an Appeal to the OMB, the Vendor hereby agrees to defend its
OPA and ZBA before the Ontario Municipal Board.
9. Restrictive Covenant
The Vendor and Purchaser mutuully covenant and agree that they shall, on or
before closing, enter into a Restrictive Covenant Agreement which shall be
registered on title to the lands do scribed in Schedule "B" at closing in priority
to all Mortgages. Leases and other encumbranc:es pursuant to which the Vendor
shall covenant and agree for Itself and its successors and assigns and
successors in title of any part of the lands described in Schedule "S" that it will
not use nor permit the use of any part of the lends described in Schedule "S"
for:
(I) the sale of automotive parts and supplies;
(ii) an automobile service station or oar bar;
(iii) a sporting goods store;
liv) a hardware store;
(v) a plumbing supply store or electrical supply store;
(vi)
a paint and wallpaper store; or
(vii)
a horticultural nursery or garden centre;
provided that the following uses shall be exempt from the foregoing prohibition:
(a) any department store. such as but not limited to Wal Mart.
Zellers. The Bay and Eatons;
(b) automobile dealerships; and
Ic) retail food outlets.
The foregoing covenant and agreement shall run with and benefit the property
and every part thereof and shall burden the lands described in Schedule "B" and
every part thereof. The Restrictive Covenant Agreement shall be prepared by
the Purchaser's solicitor.
(NOTE: This form must be initialled by all parties to the Agreement of PLlrch':'..sð--imd-.Sar~)
-:
-
CHARTER HOLDINGS INC,
- ....----=
Per:
k (: 4--~
,
-,.
Per:
We have authority to bind the Cornoré1tion.
.
SENT BY:WHITE. JENKINS. DUNCAN:12-11-98
10:25
WHITE -
519 396 8288:# 51 5
- 3 -
THE CORPORATION OF THE TOWN OFK:rNCARDINE
Per: j}h-.-,f. ~
. Mayor /'
.
Per:
? bYCLhQlu
C- \<Qy- K '
We have authority to bind the Corporation.
.
.
SCHEDULE -B-
subject property
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