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HomeMy WebLinkAboutKIN 94 059 Kin Rd Allowance . . . . . THE CORPORATION OF THE TOWN OF KINCARDINE . BY-LAW BY-LAW NO. 1994-59 A BY-LAW TO AUTHORIZE THE SALE OF LANDS TO HI-WAY VARIETY INC. WHEREAS Hi-way Variety and Sale for Allowance; The Corporation of the Inc. have entered into the sale of part of the Town of Kincardine and an agreement of Purchase Kincardine Avenue Road AND WHEREAS Kincardine Town Council deems it expedient to sell these lands¡ 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 sell such lands to Hi-Way Variety Inc. in accordance with the Agreement of Purchase and Sale dated the 30th day of September, 1994 and to affix the corporate seal to such documents. 2. The lands referred to consist of that part Kincardine Avenue Road allowance situated at the east corner of the Kincardine Avenue/Queen intersection. of the north Street 3. The purchase price for the said land shall be $1.20 per square foot. 4. This its upon by-law shall come into full force and effect final passage. 5. This by-law may be cited as the "Sale of Part of Kincardine Avenue Road Allowance By-law". READ a FIRST, SECOND and THIRD time and FINALLY PASSED this 6th day of October, 1994. ~q~ ayor Newsome and Gilbert Form LFI090 (2/85) Ql)fftr to Jurtl1nøt AGREEMENT OF PURCHASE AND SALE (/We Hi-Way Variety Inc, _he. Town agree to and with of J<incardine, In The Comity of BPUœ6rchaserJ. having impecled Ihe property. hereby The Corporation of the Town of Kincardine (as Vendor) through None ~ to purchase All and Singular the premises on the North side of Kincardine Averme in the Town of Kincardine known as Part of the Kincardine Avenue Road Allowance havin~ .. frontage of more or less, by a depth of m'ore or less. being lot No. according to Plan No. registered in the land Registry Office for the Re~islryl Lund Tilles Division of Bruce No.3, Walkerton, Ontario (herein called the "real prop~rlY") at the price of $1.20 per square foot DolI<lrs ($ c'lsh of lawful money of Cunada, payable <h Dollars (S c eque to the s<lid Agent/Vendor on this date as a deposit 10 be held in trust pending completion or other iermination of this Agreemenl and to be aeJiteJ ~~';.?unt of 'he purchase price on closing, and agree 10 ¡::ay tle 1::a1aœ of tle ~ ¡r.iœ Œl tle date :rlBJulej far -=ticn of tœ lEœin transacti.cn a.i>jæt to tle uaJal aijBtna1ts. 1) 'llE µn:dEær agræs to prov:ide a s..n:vey of tle la!rl in qœstim. 2) 'llE µn:dEær arl venJor agtæ to Uge this s..n:vey in order to Nllml"te tle fIP3Œ foo~ of tle ¡:arœl. 3) 'llE venJor agræs to register tle p1a1 at tle W31œrtcn, fuœ <hnty, lÈgiBtry Office. 4) '1h:is agrea,r=ut is furtlEr =rliti<nù tµn tle Q:uri1 of tle CoqDœticn of tle 'fun of KìIrardiœ ~ tle ra:¡uira:1 by-laws with œsµrt to tle sale of tle lEœin refeœ:I to larls, fa:i.lirß WridJ tle within offer shall œ:uœ ru11 arl mid arl tle µn:dEær's Œ¡nsit shall œ reb.D:rB:l fcrthiith, witlnJt any daix:ticn. The Vendor represents that as at the date of acceptance hereof the Vendor has not received from any municipal or other governmental authority any deficiency notice or work order affecting the real property pursuant to which any deficiencies are required to be remedied or any demolition, repairs or replacements are required to be carried out. If the Vendor receives any such deficiency notice or work order after the date of acceptance hereof, the Vendor shall forthwith produce same to the Purchaser for inspection. It by the date of closing the Vendor has not either (a) complied with such deficiency. notice or work order, or (b) seuled with the Purchaser any question of an abatement of the purchase price arising out of such deficiency notice or work order, the Purchaser may at his option either (a) accept the real property subject to such deficiency notice or work order or (b) terminate this Agreement. In the event of termination as aforesaid, all moneys paid hereunder shall be returned to the Purchaser without interest or deductions. enancy, if any The pun.::hase price herein shall include the following, free <lnd clear of encumbrances: N::tE All fixlures, which shall rem:lin ¡,ffixeJ to the real property. except the folJowing fixtures which may be removed by the Vendor prior to closing: This OtTer shodl be irrevocable by the Purchaser until 11:59 p,m. on Ihe J)th. ¡¡fler which lime, if not accepted, this Offer shall be null ¡1M void and the deposit returned day of SeptaJi:er 19 94 to the Purchaser without interest or dedlll.:tion. Provided the title is good and free from all encumbrances, except as aforesaid, and except local rates, aDd except as to any registered restrictions or covenants that run with the land provided that such are complied with, and except for any minor easements for hydro, gas, telephone or like services. Purchaser to accept the real property subject to municipal and other governmental requirements, including building and zoning by-laws, regu1ations and orders, provided the same have been complied with. Vendor agrees to authorize municipal and other lovernmental authorities to release unto the Purchaser or his solicitor any information on file pertaining to s.uch requireø)~Dts. ~. The Purchaser to' be allowedmtil 0 investigate tbe~tI'L~·~.b~~:'~~~;~~nd to salisfy himself that there is no breach of municipal or other governmental requirements affecting the real pr~e~,~.ind that ils ~r.J..Ise may be lawfully continued. If within the time allowed for examining tille, the Purchaser shall furnish the Vend(!! ill. writing with aDj'~@. objection to title, or to any breach of municipal or other governmental requirements, or as to the fact thai the ~èñi use may-nöt lawfuij.þ¿êontinued. which the Vendor shall be unable or unwilling to remove, remedy or satisfy and which the Purchaâer;-~ijl not waive~'ltns ~ªeihent shall, notwithstanding any intermediate acts or negotiations, be null and void and the deposit money returnecftó.the Purchaser, witll'tiuiinterest or deductions and the Vendor and the Agent shall not be liable for any costs or damages. Save as to any :niif\,objection ~p.~~withjn such time, the Purchaser shall be conclusively deemed to have accepted the Vendor's title to the real property. ..'.:. '.'-:<., ......" .- .- .,' -- Newsome and Gilbert Form LF1091 (10/86) Offer to Purchase Page 2 The Purchaser shall not call for the production of any title deed, abstract, surveyor other evidence of litle except such as are in the possession or control of the Vendor. The Vendor agrees that he will deliver any exisling survey 10 the Purchaser so soon a!\ possible and prior 10 the last day allowed tor examining tille. This Agreement shall be compleled on or before the 10th ..AIay ofN::romJ::Er possession of the real property shall be given to the Purchaser unless otherwise provided for herein. , J 9 94 on which date vac. Until completion of sale all buildings and equipment on the real property shall be and remain at the risk of the Vendor, and the Vendor will hold aU policies of insurance effected on the property and the proceeds thereof in trust for the parties hereto, as their interests may appear. In the event of damage to the said buildings and equipment before the completion of this transaction, the Purchaser shall have the right to elect to take such proceeds and complete the purchaSe, or cancel this Agreement, whereupon the Purchaser shall be entitled to the return, without interest or deduction, of all moneys theretofore paid on account of this purchase. Vendor agrees to furnish Purchaser with copies of existing fire insurance policies within seven days of the date of acceptance hereof. Unearned fire imiumnee premiums, fuel. taxes, inleresl. rentals, and all local improvement and waler rates IInd other charges for muni. cip:d improvemenfs to be ¡apportioned ¡and allowed to the date of completion of sale (the day ilself to be apporlioned 10 the Purchaser). Provided Purchaser may clect not 10' accept assignment of fire insuruncc in which ctlse no adjuslment for insurance premiums. The deed or transfer, save for Land Transfer Tax Affidavit, to be prepared at the expens;e of the Vendor in a form acceptabJe to the Purchaser and if a mortgage or charge is to be given back, it shall be prepared at the expense of the Purchaser in a· form acceptable to the Vendor. Provided thai this Agreemenl shall be effeclive only if the provisions of Section 49 of Ihe Planning Act, as amended, are complied with. The deed or transfer shall contain the statement of the Vendor and the Vendor's solicitor referred to in section 49 (21a) of the Plan- ning Act, 1983 as amended. The Vendor represents and warrants to the Purchaser that the buildings on the property have not been, and will not be at the date of completion, insulated with urea formaldehyde foam Insulation. This warranty shall survive the completion of this transaction. The Vendor represents and warrants that no consent to this transaction is required pursuant to section 21(1) of the Family Law Åct, 19. unless the Vendor's spouse has executed this agreement to ·consent thereto, and that the 'lransfer/Deed shall contain a statement by ~ Vendor as required by subsection (3) of section 21 or the spouse of the Vendor shall execute the Transfer/Deed to consent thereto. Vendor further agrees to produce evidence thai he is not now and Ihat on closing he will nol be a non-resident of Canada within tht 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. . This Offer. when accepted. shall constitute a binding conlract of purchase and sale, and time in all respects shaH be of the essence of this Agreement. It is agreed Ihat there- is no representalion. warranty. collateral agreement or condilion affecting this Agreement or the real properly or supported hereby other than as expressed herein in writing. Any tender of documents or money hereunder may be made upon Ihe Vendor or Purchaser or upon the solicitor acting for the party on whom tender is desired, and it sha1l be sufficient that a cheque cerlified by a chertered bank or trust company be tendered inslead of cash. Each party 10 pay the costs of regislration and taxes on his own documents. This Offer and its acceptance to be read with all changes of gender or number required by the context. DATED at K:in::aD::I:ire this day of &pta1i::er 1994, IN WITNESS WHEREOF have hereunto set hand and seal. SIGNED, SEALED AND DELIVERED . In (he presence of: w~~ (Affix Seal) (Affix Seal) Purchaser I/We, hereby accept the above otTer. and covenant, on the lerms and conditions above mentioned, and æ hereby authorized to retain commission of payable only if, as and when transaction is completed. promise and agree to and with the above-named Purchaser to duly carry out the same hereby accept the deposil of $ 100.00 oul of which the agent I'~r cent of an amounl equal to the -above mentioned sale price. Commission ~ DATED at K:in::atd:iIE this J)tl¡ day of SeptaIDer 19 94 IN WITNESS WHEREOF have hereunlo set t:h:dr hands and seal. SIGNED, SEALED AND DELIVERED J n the presence of: .... Qm1es ~v,~;,'" Mlyor ~{]-,~ - Muœm A. CbJture, Clerk (AllixSeal) a >,,' ",~':~~~>"_:"'~.>->._, - " .::::-- --:::,;....; -= ;..::;: -= 7_: ~~.... ~"~';~--.. "~,~ .......... -'.~..-_...~ '. '" (Affix Seal) :- -- , :- .' -.