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HomeMy WebLinkAboutKIN 94 012 Ontario Tax Arrears THE CORPORATION OF THE TOWN OF KINCARDINE · . BY-LAW BY-LAW NO. 1994-12 '- · A BY-LAW TO AUTHORIZE THE EXECUTION OF TAX ARREARS EXTENSION AGREEMENT PURSUANT TO SECTION 8 OF THE MUNICIPAL TAX SALES ACT, R.S.O. 1990, c. M.60. WHEREAS The Corporation of the Town of Kincardine has registered on the 4th day of March, 1993, a tax arrears certificate against the lands described in Schedule "A", being the agreement attached hereto and forming part of this by-law; AND WHEREAS Section 8 of the Municipal Tax Sales Act, R.S.O. 1990, c. M.60 provides that a municipality may by by-law authorize an agreement with the owner of such land to extend the period of time in which the cancellation price payable on the land is to be paid; NOW THEREFORE the Council for The Corporation of the Town of Kincardine ENACTS as follows: 1. THAT an agreement be entered into by the Corporation with the 675389 Ontario Inc., being the owner of the lands described in Schedule "A", being the agreement attached hereto, to extend the time period in which the cancellation price payable on these lands is to be paid beyond March 4, 1994. 2. THAT the mayor and clerk be authorized to enter into this agreement on behalf of the Corporation; 3. This its by-law shall come into full force and effect final passage. upon · 4. This by-law may be cited as the "675389 Ontario Inc. Tax Arrears Extension Agreement By-law". READ a FIRST, SECOND and THIRD time and FINALLY PASSED this 3rd day of March, 1994. . ~~~- -~ fl¿/{ 7 - . ;( _~ZZc.,~ Clerk · . · . · · THE CORPORATION OF THE TOWN OF KINCARDINE THIS AGREEMENT made in triplicate this 3rd day of March, 1994 BETWEEN: THE CORPORATION OF THE TOWN OF KINCARDINE, hereinafter called the "Town" -and- 675389 ONTARIO INC. (o/a Bruce Inn Inc.) 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, 1992, in the amount of $47,010.34 and a tax arrears certificate was registered in the Registry Office, Bruce No.3, on the 4th day of March, 1993, as instrument no. 293605 in respect of the owner's land. AND WHEREAS under Section 8 of the Municipal Tax Sales Act, R.S.O. 1990, o. 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 'l'HEREFORE THIS AGREEIŒNT WITNESSETH that in consideration of the premises and of the covenants and obligations hereinafter contained, it is hereby agreed as follows: The owner agrees to pay to the Corporation the sum seven thousand dollars ($7,000.00) monthly, payable the 1st day of each and every month commencing on first day of April, 1994, until all tax arrears interest has been paid in full. In addition, a lump payment of five thousand dollars ($5,000.00) shall made upon the signing of this agreement. 2. 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. 1. of on the and sum be . 3. · 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. .. ./2 4. · -. 5. Page 2 Immediately upon the owner making all the payments required under clause 1, this Agreement shall be terminated and the treasurer shall forthwith register a tax arrears cancellation certificate in respect of the said lands. Notwithstanding the provisions of clause 1, the owner and any other person may at any time pay the balance of the cancellation price 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. 6. This Agreement shall extend to and be binding upon and inure to the benefit of the parties and to their respective heirs, successors and assigns. 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. 8. 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. 7. · 9. 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: 675389 ontario Inc. c/o Valerie wright, President 754 Queen street Kincardine, Ontario N2Z 2Y2 · 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. . · Witness ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) ) CORPORATION QP·>rHíL.~OwN:_ OF KINCARD1ÑS.-:--.. ....::.._ '" ~ -- ¥ / - --- ~ - ~ ""'-." ¥¥_-<-':-- :-.---:: THE . - - .¥~4:: - - ¥.?.... '" :...;.:. "',':::: . .:..::-,,:.:,-,,~............. ", "" ,~ -,- Va - . -:,::; #_~. ~ ¿ _..~_w ~----.. Secre~"; _ '" Treasuré:r . . · . · · . .. All and premises County of Schedule "A" singular that certain parcel and tract of land and situate lying and being in the Town of Kincardine, Bruce, and more particulary described as follows: Part of Lots 1, 2 and 3, subdivision of Lot 6, West of Queen street and part of Lot 3, subdivision of Lots 6 and 7, East of Huron Terrace, Plan 61 and part of Lot 7, West of Queen street, Townplot of Penetangore, Town of Kincardine, County of Bruce, shown as Parts 1 and 2, Reference Plan 3R-3413. SUBJECT to a right-of-way over Part 2, Reference Plan 3R-3413 as described in Instruments Nos. 11820 and 12021.