HomeMy WebLinkAboutKIN 95 038 Purchase /Geddes Ld
e
THE CORPORATION OF THE TOWN OF KINCARDINE
BY-LAW
BY-LAW NO. 1995-38
A BY-LAW TO AUTHORIZE THE PURCHASE OF LANDS
FROM DELLA M. GEDDES
e
WHEREAS The Corporation of the Town of Kincardine and
Della M. Geddes have entered into an agreement of Purchase and
Sale for the purchase of Part of Mill Block 2, Mill Blocks 4
and 5¡
AND WHEREAS Kincardine Town council deems it expedient to
purchase these lands¡
NOW THEREFORE the Council for The Corporation of the Town
of Kincardine ENACTS as follows:
1.
2.
e 3.
4.
5.
The mayor and clerk are hereby authorized to execute
documents as they may deem advisable to purchase
lands from Della M. Geddes in accordance with
Agreement of Purchase and Sale dated the 30th day
June, 1995 (attached to this By-Law as Schedule "A")
to affix the Town's Corporate seal to such documents
required.
The lands referred to consist of that Part of Mill Block
2 and Mill Blocks 4 and 5 and more particularly described
in Schedule "B" attached to this By-Law.
such
such
the
of
and
as
The purchase price for the said lands shall be $300,000.
This by-law shall come into full force and effect upon
its final passage.
This by-law may be cited as the "Purchase of Geddes Lands
By-law" .
READ a FIRST, SECOND and THIRD time and FINALLY PASSED this 6th
day of July, 1995.
~~~z:.----
Mayor
~
e
SCHEDULE "A"
~ENOEO DEC. 1993
DYE & DURHI\M CO. I~~c_-Fonn No 157
(Page 1 01 2)
OFFER TO PURCHASE
AGREEMENT OF PURCHASE AND SALE
. ... ¡HE. .CORPORAUON .OF. .THE . TOWN OF KINCARDINE.
.haVing inspected ¡he property, hereby agree 10 and with DELLA M. GEDDES
. ("Purchaser")
. ("Vendor"),
through
N/A
EaSt
to purchase all and singular 'he premises si1uate on the We,::? t.
East
Tpwn
.. . .Agent for Vendor CAgen!")
Qu~en Street,(west pf Princes)
"de of Pnnçes Street (south of Wellington)
.Victoria Street (south of Wellington)
of . Kl..TIcard1ne.
in the.
'eowe as. Par.t of. Mill Blpck2, Mill Blp.ck 4. and Mill Block 5
. (herein caHed the "Property")
acreage 13 1
having:t(~;~n5! about . _ .._ 2. ac.re,$
b.'e9. Part of Hill Block 2"" iji,ll
and Mill Block 5
Registered in the land Regislry Olike. .
more or less. ~)I~XOO1iIXXX:XXXXXXXXXXXXXXXXXXXXXXXtXorecØÐŒK:K
Block 4.
. according IcY~:~
.T.own Plot
Schedules
of.Penetangore
A & B attached
.as shown
hereto
.on
at1he price or sum ("Purchase Prica") 01
Bruce .1/3, . Walker ton .
Three Hundred Thousand.
. .Oolla" ($ .300,000.00.)
as follows: ". _Qpf?:. t-h().t,lß.Q.l1d Dollars {$l,o.OO.OO
cash or certified cheque to the said AgentNendor on this date as a deposit 10 be held in trust pending completion or other termination of this Agreement, and \0 be credited
on accounl of Purchase Price on closing, and covenan1, promise and agree 10
.2.
1. To pay the further sum of $74,000.00 (seventy-four thousand dollars) in cash or
by certified cheque, subject to adjustments, to the vendor's solicitor upon closing.
The vendor agrees to take back a first mortgage in the amount of $225,000.00 (rwo
hundred and twenty-five thousand dollars), bearing interest at the rate of 7.75%
(seven and three-quarters per cent) per annum, and repayable in three equal annual
instalments of $75,000.00 principal plus accrued interest to payment date on th~
anr:iversary date of the ~losing of this transaction.
3. This mortgage shall contain a clause permitting the pre-payment of any or all
of the principal sum at any time or times without penalty or bonus.
q. This transaction is conditional upon the To~~ passing the necessary by-law(s)
required for this transaction.
5. The vendor aCId purchasers agree to pay their own legal fees related to this
transaction.
.
.
The Purchase Price does not include Goods and Services Tax ("G.S.T.") and, it this transaction is subjecl to G.S.T., then applicable G.S.T. shall be in addition to the Pur·
chase Price. AU O,S.T. shall be collected and remitted as required by law. 11 this transaction is subject 10 O.S.T. but the Vendor is not required to collect or remit G,S.T.,
the Purchaser agrees to provide on or before closing to the Vendor or Vendor's Solicitor a wrillen cerlificate in a lorm reasonably satislactory to the Vendor or Vendor's
Solicitor to the effect that the Vendor is not required to collect or remilthe O.S.T. and shall provide the Vendor with the Purchaser's O.S.T, registration number, i applicable,
tailing which the applicable G.S.T. shall be paid to the Vendor on closing. If this transaction is not subject to G.S.T., the Vendor agrees to proylde on or bßfore closing
to the Purchaser or Purchaser's Solicitor a wrilten certificate in a torm reasonably satisfactory to the Purchaser or Purchaser's Solicitor certifying that the transaction is
not subject to G.S.T.
The Vendor represents and warrants that during the period of his or her occupancy of the Property and, 10 Ihe besi of his or her knowledge, prior therelo, no building on
Lhe Propf'lrty has been insulated with urea formaldehyde loam insulation. This warranly shat! survive completion 01 this transaction.
. QFFER TO ,aURCHASEJAGREEMENT OF PURCHASE & SALE
AMENDED DEC. 1993 .
DYE & DURHAM CO. INC~Fo(m No. 157
~;;r --Id
., .,.,.. ,", ,,-" ."" ""eo", .,,~ it ' . ~ ~ (J) ,»1 }¡ ~
oed Ih' fOllow'ng Oh"~ Voedo" ,hall b, '"oluded 'e Ih's sal, fa, the P"" abo,"·meetioeed
.
This Ofler shall be irrevDcable by the Purchaseruntil..l.:'OO.p. M.onlhe......6.th.... .:. .... .dayof ...July.
time, if not accepted, this OHer shall be null and void and the deposit returned to the Purchaser without ¡nlerest or deduction.
..19 .95afler which
PROVIDED the 1iUe is good and free Irom all encumbrances. except as aforesaid, and excepttocal rates and minor easements tor hydro, gas, telephone or Ilke sarvjces
to the Property; said title to be examined by the Purchaser al his or her own expense, and the Purchaser nolto call tor the production of any til!e deed, abstract 01 title,
survey, proof or evidence of title, other than those in Vendor's possession or under his or her control; and provided !he same have been compHed with, the Purchaser to
accept the Properly subject to Municipal requirements, including building and zoning by-laws, minor easements as above-mentioned, and 10 restricHons and covenants that
run with the land.
The Purchaser to be allowed. ... .60. . .. .. . .. .days from the date 01 acceptance 01 this OUer to investigate the tilte at his or her own expense, and if within that
lime he or she shall lurnish the Vendor in writing with any valid objection io the litle, or 10 any outstanding Municipal work orders or deficiency notIces affecting the Property,
or non-compliance with zoning by-laws, or thai the present use of the property may not be law ully conlinued, or that the buildings on the Property may not be inslJred against
risk of fire, 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 moneyreturned to the Purchaser without interes! or deduction, and the Vendor and the Agent shall not be liable for
any costs or damages. Save as to any valid objection so made wIthin such lime, the Purchaser shall be concluSively deemed to have accepted Ihe title of the Vendor to the Property.
The Yendor hereby consents to the municipality releasing 10 the Purchaser details 01 all outstanding Municipal work orders or deficiency notices aHecting the Property.
This'Agreement shall be completed on or before ihe .. 2.2nd.
Property is to be given to the Purchaser unless otherwise provided lor herein.
day 01 . S.~P:~~IJlÞ~X.
.199.5 .on which date vacant possession of Ihe
Until completion of sale all buildings and equipment On the Property shall be and remain at ihe risk 01 the Vendor unlil closing and the Vendor will hold aU pOlicies of insurance
effected on the Property and the proceeds thereof in trust lor the parties hereto, as their interesls may appear. In lhe event of damage to the said buildings and equipmenl
before the completion 01 this transaction, the Purchaser shall have the right to etectlo take such proceeds and complele the purchase, or cancellhis Agreement, whereupon
the Purchaser shall be entilled to the relum, without interest or deduction, 01 aU moneys Iheretofore paid on account of this purchase.
.uneamed lire insurance premiums, luel, taxes, interesl, rentals and all local improvements and water rales 10 be proportioned and allowed to the date 01 completiqn of sale.
ransfer/Deed to be prepared at ihe expense 01 the Vendor in a form acceptable to the Purchaser's Solicitor, and it a Charge/Mortgage is to be given back, same to be
prepared at the expense of the Purchaser on a form acceptable to the Vendor's Solicitor.
The Transler/Deed to be given to the Purchaser shall contain a statement completed by the Vendor and the Vendor's Solicitor pursuant to Section 50 (22) 01 the Planning Act.
This Agreement shall be etlective to create an interest in the real property only it the applicable land division provisions 01 the Planning Acl are complied with, and the Vendor
agrees, al his or her expense, to comply with such provisions and to proceed diligently with the application lor such compliance.
The Vendor, on or before completion, wilt produce evidence that he or she is not now, and upon completion will not be, a "non-resident person" within the meaning and
lor the purposes of Secbon 1 t6 01 the Income Tax Act oj Canada or If he or she is a "non-resident person" will Jully comply with the provisIons 01 Section 116 of the said
Act prior to complelion.
The Affidavit 01 Residence and 01 Value of the Consideration required under the Land TransJer Tax Acl shall be prepared by Ihe Purchaser
If the Spouse 01 the Vendor has not executed this Agreement, the Vendor represents and warrantS lhalthe complelion of this transaction will not contravene the provisions
01 the Family Law Act.
This Offer, when accepted by the Vendor, shall constitute a bInding contract 01 purchase and sale, and lime in alt respects shall be of the essence of Ihis Agreement.
It is agreed that there is no representation, warranty, collaleral agreement or condition affecting lhis Agreemenl or (hf;! Property or supported hereby other than as expressed
herein in writing.
Any tender of documents or money hereunder may be made upon the Vendor or Purchaser or upon the Solicitor acting tor the party on whom tender is desired, and it
shall be sullicient that a negotiable cer1i1ied cheque be tendered inslead 01 cash.
Each party to pay the costs of regÎstration and taxes on his or her own documents.
This Olter and its acceptance to be read with all changes of gender or number required by the context.
eATED at.. .Kil).~ç;.xd.ine.~. .QU-.t;p.X~.Q. ....... .this. JQtp.
. .day of
..June.
. .1995
IN WITNESS WHEREOF I have hereunto set my hand and seal.
SIGNED, SEALED AND DELIVERED
in th~~nce of:
.. .K=o-.h~ .. .G.n:>.~
Witness
Q~\~G.~
Witness
.~..oa"JUne30, 1995
Purchaser (Seal)
O'~DateJUne 30, 1995
(Seal)
The undersigned, hereby accepts the above Offer and its terms, and covenants, promises and agrees to and with the above-named Purchaser 10 duly caflY out ¡he same
on the terms and conditjons above mentioned, and hereby accepts the deposit 01 $..1 ~.qo.q. 09 out of which the Agent is hereby authorized to
relain a commission of, .n/a.per cent of an amount equal to the Purchase Price plus applicable G.S.T.. PROVIDED that no commi$sion shall be payable unless and
until this transaction is completed.
The undersigned Spouse at the Vendor hereby consenls to the sale 01 the Property and agrees to join in the COnveyance thereat.
(Srnk9 QuI ab<w9 Jf not applJcable)
DATED at . k!/lJÇP:~¡.~£ 'j' .OtVTA~.lO
.this.
(p~
day of .. .4~LY.
1995
IN WITNESS WHEREOF I have hereunlo set my hand and seal
.SIGNED' SEALED AND DELIVERED ,
in the presence of; f) _J .
......~I~
()Witss
~E4.~ !~·J1{ >
. . ....... ... ..... . Date .. ... . .
91i
Witness
Vendor
(Seal)
.Date
{Seal)
Witness
Spouse of the Vendor
...
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WELLINGTON
I MAP
NUMBER
STREET
I I
¡nr
GeJde.s Prcp'" ~
~( , (¡rOQd
own 'OLÙI1eo.
011 o uJa. nc e.)
UPDATED
UPOATEO
U POA TED
UPOATED
'SCHEDULE "A"
PART OF ,¡ILL BLOCK 2
SEPT '992
7 JUN': 1990.
AUG 619B7
'B, SEPTEMBER 1986
41-22-03-000
FOR ASSESSMENT
TH IS MAP IS NOT
PURPOSES 0
A LEGAL DOCUMENT OF ~
MINISTRY OF REVENUE - ONTARIO
REGIONAL ASSESSMENT OFFICE No. 25
OWEN SOUND
TOWN OF
KINCARDINE
SCALE
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OAT E'
CS T 25 APR
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FIRSTLY
SCHEDULE "B"
DESCRIPTION
Town of Kincardine, county of Bruce being Part of
Mill Reserve Block Number Two (2) on the East Side
of Queen Street described as follows:
PREMISING that the north westerly limit of said
Mill Reserve Block Number Two (2) has a bearing of
North 30 degrees 34 minutes East (N 30 degrees 34'
E) and relating all bearing herein thereto¡
BEGINNING at the most westerly angle of said Mill
Reserve Block Number Two (2)¡
THENCE North 30 degrees 34 minutes East (N 30
degrees 34' E) along the north westerly limit of
said Mill Reserve Block Number Two (2) a distance
of 336.00 feet to the POINT OF COMMENCEMENT.
THENCE South 12 degrees 09 minutes East ( S 12
degrees 09' E) a distance of 136.25 feet¡
THENCE South 43 degrees 34 minutes West (S 43
degrees 34' W) a distance of 242.00 feet to a point
in the south westerly limit of said Mill Reserve
Block Number Two (2) distant 38.00 feet measured
South 59 degrees 34 minutes East (S 59 degrees 34'
E) thereon from the most westerly angle of said
Mill Reserve Block Number Two (2)¡
THENCE in a south easterly direction along the
south westerly limit of said Mill Reserve Block
Number Two (2) to the most southerly angle thereof¡
THENCE in a north easterly direction along the
south easterly limit of said Mill Reserve Block
Number Two (2) to the most easterly angle thereof¡
THENCE in a north westerly direction along the
north easterly limit of said Mill Reserve Block
Number Two (2) to the northerly angle thereof¡
THENCE in a south westerly direction along the
north westerly limit of said Mill Reserve Block
Number Two (2) to the POINT OF COMMENCEMENT.
SUBJECT TO an easement as described in instrument
number 76522 in favour of The corporation of the
Town of Kincardine over part of said Mill Reserve
Block Number Two (2) described as follows:
PREMISING that the Westerly limit of said Mill
Reserve Block Number Two (2), has a bearing of
South Thirty degrees Thirty-four minutes West (S30
degrees 34'W) relating all bearings herein thereto¡
COMMENCING at the most Northerly angle of said Mill
Reserve Block Number Two (2)¡
THENCE South Thirty degrees Thirty-four minutes
West (S30 degrees 34' W) along the north westerly
limit of said Mill Reserve Block Number Two (2), a
distance of Two-Hundred and Thirty-four (234.00')
feet;
THENCE South fifty-nine degrees Thirty-four minutes
East (S 59 degrees 34' E) a distance of seventeen
(17.00') feet¡
THENCE North Thirty degrees Thirty-four minutes
East (N 30 degrees 34' E) and parallel to the North
Westerly limit of said Mill Reserve Block Number
Two (2), a distance of Two Hundred and Thirty-four
(234.00) feet to a point in the North Easterly
limit of said Mill Reserve Block Number Two (2),
distant Seventeen (17.00) feet measured South
Fifty-nine degrees Thirty-four minutes East (S 59
degrees 34' E) thereon from the most North angle of
said Mill Reserve Block Number Two (2)¡
.
.
.
e
.
e
SCHEDULE 'B'
DESCRIPTION CONTINUED
THENCE North Fifty-nine degrees Thirty-four minutes
West (N 59 degrees 34' W) along the said North
Easterly limit, a distance of Seventeen (17.00')
feet more or less to the point of commencement¡
SECONDLY The whole of Mill Reserve Blocks 4 and 5, Town of
Kincardine, County of Bruce.
TOGETHER with the right to use certain land East of Queen
street to Park street on the South branch also to the Western
side of Lot Eight (8) west Park street and to which the said
transferor is entitled and being through blocks two, three,
four and five and Park Lots Numbers Ten and Eleven West of
Park Street, being the lands described in instrument number
286796.