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HomeMy WebLinkAboutKIN 96 088 Sale/Land - Kenny e . - - THE CORPORATION OF THE TOWN OF KINCARDINE BY-LAW BY-LAW NO. 1996-88 A BY-LAW TO AUTHORIZE THE SALE OF LAND TO CHARLES AND MILDRED KENNY. WHEREAS Charles and Mildred Kenny wish to purchase from Town of Kincardine part of Goderich Street and Part of Railway Reserve, in the Town of Kincardine, in the County Bruce and being more particularly described as Parts 3, 4, and 6 of Plan 3R-6519; the the of 5 AND WHEREAS a portion of the said lands consist of part of the Goderich Street road allowance; AND WHEREAS the said portion of Goderich Street has been closed and stopped up by By-Law No. 1996-56 pursuant to Section 301 of the Municipal Act, R.S.O. 1990, Chapter M.45; 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 Charles and Mildred Kenny. 2 . The purchase price for the said lands shall be FIFTY-EIGHT THOUSAND FIVE HUNDRED DOLLARS ($58,500.00) 3. This by-law shall come into full force and effect upon its final passage. 4. This by-law may be cited as the "Land Sale to Charles and Mildred Kenny By-Law, 1996". READ a FIRST and SECOND time this 5th day of December, 1996. READ a THIRD time and FINALLY PASSED this 12th day of December, 1996. ~ Clerk e e . . SCHEDULE . A· All and singular that certain being and situate in the Town and described as Part of penetangore and Part of the particularly described as Part Reference Plan 3R-6519. parcel or tract of land lying, of Kincardine, County of Bruce, Goderich Street, Townplot of "Railway Reserve", and more 3, Part 4, Part 5 and Part 6 of ---------- .- Kenny Option ~f.eement Schedule "Ä .....-.... .'_....... ....~.'"....-_...._-_. ..-....--..-..-. I REQUIRE T:tJS PLAN TO BE DEPOSITED UNDER THE REGISTRY ACT. PLAN 3R-t.»'f RECEI. AND DEPOSITED fE --\ ~ g'T"- l')% _~e t6.TÞ-rt. / JOHN C. WOOD l---"NT ARlO lAND SUR'IEYOR DATE J OL'f '1/'1" ___J1r~.fL':/R. O~· LAND REGISTRAR FOR THE REGISTRY DIVISIOH OF BRUCE NO.3. ~. w " 0 "\ '" '" on \ ° .. '" Z "T 3: '=> c:: CAUTION: THIS PLAN IS NOT A PLAN OF SUBDIVISION - WITHIN THE MEANING OF THE PLANNING ACT. 0- I- " "" " W .. --1 " w :,; . . 0:: u l- e:: z 0 i - waoor", (j) I ;¡ r STeps N4QoOO' I (9 w 'e Mfr. -,. · JO'¡ - CfDA.,. f W < · II ......t-.. _____ ----î u "Us 1.0" ~ .0 ".01...... I- on - ~ ~ ~: t 41.04 . :.,j '0 . - u .; ","T 10.3,' Z z ~ --¿ ~ 11 ð '" CX) '/. .. \. WIT, .. c.. . '" ,.. '" "- =' WI- ... '" g: > 0:: '.. N ."O::<{ ~ PART N 0- ". W a. ;:: 7 ,.: ;; (j) .. UI " Z W ,.: ¡;; .. '" 0:: U. .. 0 ,.. 0:: '=> ::> II Wlr. '., ~ 0 :r: N4SO .. ~ ., IB N N W ~ 0- 0- .. ~6 .~J' " '" .. 10 PART II '~ .. 1'1 H 20' JO''w ~ M " ~ " ~ . :r: w., ~6. 19 .. 1- ~.. r.n' U ð'" IBWI! PART 6 - "T (j) · 0:: !.LJ W r :> -- 0 " - ... ~6.22' ~. 0 w ~. 0 '" 0 SIB · ° IB (9 - t . c " ., z '" WIT, , 0: '" Z '" W 0 ¢ ! "0- ., - -,.. w '" 0.. U N . . W l- N '0 '" 0 ": PART 3 0 I ~ w N 0- 0:: '" '" '" ---- '" a '" on '", '", w '" <{ '" <{ 0 S .. on on ... W A- a. 0 ,.. -..J w ° \~ (J) 1 '" " '" 1- "" N51°37' oo·w N51°51'JO"W z 0 .. r þ. ;( 28.73' 0- 0 '=> M X \ c: ., -..J w '" '" . 'i ..... . - - I B "" '" '10 ' Il.10' "1.44' IB .. N \ WIT m a \ .J '"' w - ~ r <{ l- . '" w '", 0:: ....., --J u 0:: .. u '" <{ . I- pþ<RI 2- " 0 on on a. 0 0:: '" 2~5. 26~\'" to <{ SIB \'111. <- I a. 12:0.,...· \IIB9\ --- ". SIB \'111. . . ·w \ liEf. \'itt ",..A¢ \\1 B9 \ A6·9 \ , '!o"..tot2." .-- ",6\0 \6 \0 1.0.0' - . ~tA' '6,.06 ~61.2.~ ---- KINCÞ<ROINE .. t . . . This AGREEMBRT made in TRIPLICATE DB::.e.",,'oQ.r, 1996. this ,~~ day of BETWEEN: THE CORPORATION OF THE TOWN OF KINCARDINE hereinafter called the "Optionor" of the First Part, -and- CHARLES IŒHHEY AND MILDRED KEHHEY hereinafter called the "Optionees" of the Second Part. THIS AGRBBMEHT WITNESSETH THAT in consideration of the sum of ONE DOLLAR ($1.00) now paid by the Optionees to the Optionor (the receipt of which is hereby acknowledged) and other good and valuable consideration, the Optionor hereby gives to the Optionees an irrevocable option to purchase, free from encumbrances, the lands and premises being part of Goderich Street and Part of the Railway Reserve, in the Town of Kincardine, in the County of Bruce and being more particularly shown as Parcels 5 and 6 of Plan 3R-6519 annexed hereto as Schedule "A" (hereinafter called the "real property") on the terms and conditions set out below: 1. The Option may be exercised by the Optionees at an¥-.1I1/( time f:~m~he date hereof up to but not after the ~ ~ day o~~q....*,~, 2016 and may be exercised by a <2i2-- letter del~vered the Optionor or by mailed postage prepaid and registered, addressed to the Optionor at 707 Queen Street, Kincardine, Ontario, N2Z 1Z9. The parties acknowledge that they have entered into a Licence Agreement of even date herewith by which the Optionees have permission to enter on the real property or the 20 year period commencing on the ~~ day 0 . ~ , 1996. Upon termination of the <t!B- Licence A eement, this option shall immediately become null and void, and the sum of $1.00 paid by the Optionees as consideration for the granting of this option shall be returned by the Optionor to the Optionees without interest or deduction. 2. 3. Upon the option being exercised the following shall be the terms of the agreement of purchase and sale of the real property: a) If the~ion is exercised on day 0 (f- 2006, then of the rea property shall TWENTY-ONE THOUSAND FIVE ($21,500.00) . or before the ~~~ the purchase price ~ be the sum of HUNDRED DOLLARS .. .2 Kenny Option Agreement Page 2 b) If the is exercised on or after the day of , 2006, then the purchase price of the real p erty shall be the fair market value thereof, as 0 the 1st day of ,2006. The fair market value the real property shall be as the parties s 11 agree, or failing agreement, shall be dete ined by arbitration pursuant to the provisions f the Aroi#a#on Ac~ 1991, s.o. 1991, Chapter 17, as ended from time to time. t c) The purchase price shall be paid (i) the sum of ONE DOLLAR ($1.00) paid by the Optionees as consideration for the granting of this Option shall be credited to the Optionees as a deposit and allowed as part of the purchase price: . (ii) the balance of the purchase price, subject to the usual adjustments, shall be paid by cash or certified cheque on the date of completion. d) The sale date on Option. shall be completed 120 days after which the Optionees have exercised the the e) Vacant possession of the real property shall be given to the Optionees on the date of completion. f) The title shall be good and free from all encumbrances, save and except for: (i) local rates; . (ii) any registered restrictions or covenants that run with the land provided that such are complied with; (iii) any registered agreements with a municipality or a supplier of utility service including, without limitation, gas, electricity, water, sewage, telephone or cable television or other telecommunication service, providing such have been complied with or security has been posted to ensure compliance and completion as evidenced by letter from the relevant municipality or utility supplier; (iv) any minor easements for the supply of utility service to the real property or to the adjacent properties. The Optionees shall accept the real property subject to municipal and other governmental requirements, including building and zoning by-laws, regulations and orders. ...3 . . . . . Kenny Option Agreement Page 3 g) The Optionees are to be allowed to the date of completion to investigate the title at their own expense. If within the time allowed for examining title, the Optionees shall furnish the Optionor in writing with any valid objection to title, which the Optionor shall be unable or unwilling to remove, remedy or satisfy and which the Optionees will not waive, this Agreement shall, notwithstanding any intermediate acts or negotiations, be null and void, and the sum of $1.00 paid by the Optionees as consideration for the granting of this Option shall be returned by the Optionor to the Optionees without interest or deduction, and the Optionor shall not be liable for any costs or damages. Save as to any valid objection so made within such time, the Optionees shall be conclusively deemed to have accepted the Optionor's title to the real property. (h) The Optionees shall not call for the production of any title deed, abstract, surveyor other evidence of title except such as are in the possession or control of the Optionor. The Optionor agrees that any existing survey shall be delivered to the optionees as soon as possible and prior to the last day allowed for examining title. (i) The Deed or Transfer, Tax Affidavit, to be the Optionor in a Optionees. save for the Land Transfer prepared at the expense of form acceptable to the (j) The Optionor shall produce evidence that it will not be at the time of closing a non-resident of Canada within the meaning of Section 116 of the Income Tax Act, or, in the alternative, evidence that the provisions of said Section 116 regarding disposition of property by a non-resident person have been complied with at or before closing. (k) Any tender of documents or money hereunder may be made upon the Optionor or Optionees or upon the solicitor acting for the party on whom tender is desired, and it shall be sufficient that a cheque certified by a chartered bank or trust company be tendered instead of cash. (1) This option shall be effective only provisions of section 50 of the Planning amended, are complied with. (m) This option, when exercised, shall constitute a binding contract of purchase and sale. if Act, the as 4. Time in all respects shall be of the essence of this Option. .. .4 . . . . Kenny Option Agreement Page 4 5. This Agreement shall enure to the benefit of and shall be binding upon the respective heirs, executors, administrators and assigns of the parties hereto. IN WITNESS WHEREOF the parties hereto have hereunto set their hands and seals. SIGNED, SEALED AND DELIVERED in the presence of THE CORPORATION OF THE TOWN OF KINCARDINE pe~~~ Mayor - Charles W. Mann per: Clerk - Maureen Couture -~ >- ~ ....Witnes -. ~z pm 7IJ.,p ,.j,~( o/(-Þly Mildre Kenney A:? - ¿ Witness - Kenny Option ~¡;eement Schedule "Ä . ." ._......._...~ -. -.------.-.. '""-........--.....--. PLAN 3R-t.»'f f REOUIRE T:U5 PLAN TO BE OE'OSITED UNDER THE REGISTRY ACT, RECEI. AND DEPOSITED fE --\ ~ g'T"- l Hb _~e þ~. . JOHN C. WOOD [..oNTARIO LAND SURVEYOR DATE J OL'f '1/'1" 3= '=> c:: ~, '\ w 0 '" '" on 0 .. ... z .. 0- " .. .. _ -.--JJ:r: IW.. U Vþ O~· LAHD .EGS,.." '0. THE REGISTRY OWIS.ON OF BRUCE NO.). CAUTION: THIS PLAN IS NOT A PLAN OF SUBDIVISION - WITHIN THE MEANING OF THE PLANNING ACT. I- W W 0:: I- (j) :,; --1 c: 0 (9 -,. < 1- :.,j Z ~ C- oo .. '" .. LL. ~ 0 " " . . ~ z i ;¡ r ... . I I .__._-î wooorN Irrps " 1tIJ'. "40°00'30" CtDAIt W t.rrs 47,04' - '1 ~t-c .0 ".0'..... ·0 ~ ~ I ó CD'" ... -...d ð '" !X) '" ~ u ~ '.0" - ~ u 8 \. " lO. J.' '" WI'. .. .. t- '" '" N g~ h: '0 w <t ;;(j)Q. W 0: '.. .. ¡: PART 7 ~ ,.., '" Ii æ z 0 0: ::> J: '" w !;¡ J: .. . .. "", ~.. ;2 .. ~ " .. . . .. t- '", 0 ~ N .. " .. .. <> N .. c: .. - II Wlf. H4So '" .. N 46.43' II < . ". I r ~ r J: U 0:: W o o (9 I :; .~ I .~ .,; "'. '" ""10 Ut ~ \~ \ '- .... Ii: ~ T,I)' w<t !;¡ 3: IBWIl: CL PART 5 46,19 , PART 6 H "NS,041',f,O-W 46.22' I- (/) W -- , 32.0' SIB o .. '" z . 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