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HomeMy WebLinkAboutKIN 97 017 Agree Timeless Exten It e e - THE CORPORATION OF THE TOWN OF KINCARDINE .. BY-LAW BY-LAW NO. 1997-17 A BY-LAW TO AUTHORIZE THE SIGNING OF AN EXTENSION AGREEMENT WHEREAS the Council for The Corporation of Kincardine deems it advisable to enter into agreement with TIMELESS HOMES INCORPORATED. the an Town of extension AND WHEREAS under Section 8 of the Municipal Tax Sales Act, R.S.O. 1990, c. M.60, a municipality may by by-law authorize an extension agreement be entered into by the Corporation with an Owner to extend the period of time in which the cancellation price in respect to the Owner's land is to be paid. NOW THEREFORE the Council for The Corporation of the Town of Kincardine ENACTS as follows: 1. That The Corporation of the Town of Kincardine enter into an extension agreement with TIMELESS HOMES INCORPORATED for the property known as Part Lot C to Part Lot 3, Plan 61, Town of Kincardine, County of Bruce, that portion of Lots C, D and E, North side of Broadway Street, plan 61, shown co loured in red on Department of Highways plan P-2023-19, registered as No. 596 on the 6th day of February, 1963 as in Instr, #254056. 2. That the mayor and clerk be authorized to sign, on behalf of The Corporation of the Town of Kincardine, the extension agreement with TIMELESS HOMES INCORPORATED, hereby attached to this by-law. 3. The by-law shall come into full force and effect upon its final passage. 4. This by-law may be cited as the "97 Timeless Homes Inc. Extension Agreement By-law". READ a FIRST and SECOND time this 20th day of March, 1997. READ a THIRD time and finally PASSED this 20th day of March, 1997. ~~--- - Mayor > Clerk, . '- , , . ~~ .:, " . . , ~ . > THIS AGREEMENT made in triplicate this 12th day of March, 1997, BETWEEN: THE CORPORATION OF THE TOWN OF KINCARDINE, hereinafter called the "Town" -and- TIMELESS HOMES INC (Paul Aneja) hereinafter called the "Owner". WHEREAS of Kincardine forming part of the Owner is the owner of described in Schedule "A" this Agreement. the land in the Town attached hereto and AND WHEREAS the Owner's land is in arrears of taxes on the 31st day of December, 1995, in the amount of $5,177.81 and a tax arrears certificate was registered in the Registry Office, Bruce No.3, on the 14th day of March, 1996, as instrument no. 317136 in respect of the Owner's land. AND WHEREAS under Section 8 of the Municipal Tax Sales Act, R.S.O. 1990, c. m.60, a municipality may by by-law authorize an extension agreement be entered into by the Corporation with an Owner to extend the period of time in which the cancellation price in respect to the Owner's land is to be paid. NOW THEREFORE '!'BIS AGREEMENT WITNESSETH that in consideration of the premises and of the covenants and obligations hereinafter contained, it is hereby agreed as follows: 1. The OWner agrees to pay to the Corporation the sum of ONE THOUSAND FIVE HUNDRED DOLLARS ($1,500.00) monthly, payable on the 14th day of each and every month commencing on the fourteenth day of March, 1997, until all tax arrears, interest and costs, including outstanding engineering costs, have been paid in full. 2. The monthly payment referred to in clause 1 above will be applied to all interest, penalty, taxes and costs outstanding in the manner prescribed in the Municipal Act and current taxes will be added to the outstanding amount(s) as levied by the Town. 3. Notwithstanding any of the provisions of this Agreement, the Municipal Act, R.S.O. 1990, c. M.45, as amended, shall continue to apply to the collection and enforcement of all tax arrears and all taxes except that the treasurer and the collector of taxes of the Town, without waiving the statutory rights and powers of the municipality or of the treasurer, shall not enforce collections of such tax payments, except as set out in clauses 1 and 2, during the time this Agreement is in force so long as the Owner is not in default hereunder. In the event the Owner defaults in any payments required by this Agreement, this Agreement upon notice being given to the Owner by the Town, shall be terminated and the OWner shall be placed in the position he was before this Agreement was entered into. In the event of a default, this Agreement shall cease to be considered a subsisting Agreement on the day that the notice of termination is sent to the Owner. 4. .../2 - - .- · · I .~* · Page 2 5. Immediately upon the Owner making all the payments required under clauses 1 and 2, this Agreement shall be terminated and the treasurer shall forthwith register a tax arrears cancellation certificate in respect of the said lands. 6. Notwithstanding the provisions of clauses 1 and 2, the Owner and any other person may at any time pay the balance of the cancellation price together with any current taxes and penalty owing and upon receipt of the aforesaid payment by the Town, this Agreement shall terminate and the treasurer shall forthwith register a tax arrears cancellation certificate. 7. This Agreement shall extend to inure to the benefit of the respective heirs, successors and upon and to their and be binding parties and assigns. 8. If any clause or part of clauses in this Agreement be illegal or unenforceable, it or they shall be considered separate and severable from the Agreement and the remaining provisions of the Agreement shall remain in force and effect and shall be binding upon the parties hereto as though the said clause or clauses or part or parts of clauses had never been included. 9. In this Agreement the words "Owner", or the words "he" or "his" where used, in addition to their accepted meanings, shall mean and include an individual, an associate, a partnership or an incorporated company. Wherever the singular is used herein, it shall be construed as including the plural, and wherever the masculine is used herein it shall be construed as including the feminine and vice versa in all cases. 10. Any notice required to be given to the Owner hereunder shall be sufficiently given if sent by registered or certified post to the Owner at the following address: Timeless Homes Inc. c/o Paul Aneja R.R. U Ariss, Ontario NOB 1BO IN WITNESS WHEREOF the OWner has hereunto set his and hand and seal and the Town has caused its Corporate Seal to be hereunto affixed, attested by its proper officers. gaçQ't1T ~ Witness ) THE CORPORATION OF THE TOWN ) OF KINCARDINE ) !~~~ ) Mayor ) ) ) ) ) ) ¡ lf~ ) f';1\r-{> ~s #0""", ""'- (I ) ) --~--...::--" , . . .".........~ '.-'.-- I . SCHEDULE "An ALL AND SINGULAR that certain parcel and tract of land and premises situate, lying and being in the Town of Kincardine in the County of Bruce and being composed of pt Lot C to pt Lot 3, Plan 61, Town of Kincardine, County of Bruce, that portion of Lots C, D and E, North side of Broadway Street, Plan 61, shown co loured in red on Department of Highways Plan P-2023-19, registered as No. 596 on the 6th day of February, 1963 as in Instr. 1254056. --~_.- -.,.... .~~.--