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Home My WebLink About07 341 Second Amendment to Agreement of Purchase & Sale Between MoK and 2100902 Ontario Ltd . . . . T14E NO. 2007 - 341 BEING A BY-LAW TO AUTHORIZE A SECOND AMENDMENT TO AN AGREEMENT OF PURCHASE AND SALE BETWEEN THE MUNICIPALITY OF KINCARDINE AND 2100902 ONTARIO LIMITED AND WHEREAS the Council for The Corporation of the Municipality of Kincardine entered into an Agreement of Purchase and Sale with 2100902 Ontario Limited with the passing of By-law No. 2006-147; WHEREAS with the passing of By-law No. 2007 - 020, the Corporation of the Municipality of Kincardine authorized entering into an Amended Agreement of Purchase and Sale with, and the sale of land to, 2100902 Ontario Limited for lands described as Part of Lot 1 Concession 1 South of Durham Road (former Township of Kincardine) in the Municipality of Kincardine in the County of Bruce; AND WHEREAS the Municipal Act, 2001, S.O. 2001, c. 25 Sections 8 and 9 (1) provides municipalities with the powers of a natural person to enable them to govern their affairs as they consider appropriate under this or any other Act; AND WHEREAS the Council of The Corporation of the Municipality of Kincardine deems it advisable to enter into a Second Amending Agreement of Purchase and Sale with 2100902 Ontario Limited; NOW THEREFORE the Council of The Corporation of the Municipality of Kincardine ENACTS as follows: 1. That the amendments to the Agreement of Purchase and Sale between the Municipality of Kincardine and 2100902 Ontario Limited be hereby authorized. 2. That the Second Amending Agreement be attached to the current agreement between the Municipality of Kincardine and 2100902 Ontario Limited to reflect the amendments. 3. That the Mayor and CAO be authorized to sign, on behalf of The Corporation of the Municipality of Kincardine, any and all documents related to the second amending agreement with 2100902 Ontario Limited attached hereto as Schedule "A". . . . /2 Page 2 Second Amendment to Agreement of Purchase and Sale with 2100902 Ontario Limited By-law By-Law No. 2007 - 341 e 4. This By-law shall come into full force and effect upon its final passage. 5. This By-law may be cited as the "Second Amendment to Agreement of Purchase and Sale with 2100902 Ontario Limited By-law". READ a FIRST, and SECOND time this yth day of November, 2007. 9G">V">- 1'N><-Q~cJ2i Clerk e READ a THIRD time and FINALLY PASSED this yth day of November, 2007. Q~ 'i1j\o.<.E)c~ Clerk e . This is Schedule ".,.4:." to By-Law "CC'T- NO.8'.~.-t1 passed thc3..:!:::: day , ~, ofNi:,~\T'I_1i~;j'V 200'-"" SECOND AMEl\nINGAGREEMEN~~0w.""~l~1"- M~,ot) CleEk __---' -'- ~ l"''''~ Made This (1' Day of November, 2007. BETWEEN, nlE CORPORATJON OF Till: MU"JCJPALITY OF KlNCAROlNl: (the "V~ndor") OF THE FIRST PART AND 2100902 ONTARIO LIlVIITED (the "Purchaser") OF THE SECOND PART WHEREAS; (a) TheVendorandthePllrchaserenteredintoanagr~emento[purchaseaJ]dsaledaled August 9, 2006 (the "Agnx',mcnt") for the purchase of ~pp,.o\imalcly 12.7 acres of l~nd in the Munjcjp~l\ty of Kinc~rditle, Ontario, as more particularly described in thE Agreement; (b) The Vendor and Purchaser enl~"oo into an Amending Agreement dated January 23, 2007 (the "First Amending Agreemem"j, which amends the Agrecmcnt; ~nd (c) The panies wish to further amend the provisions of the Agreemenl as SlOt Oll! herdn. NOWIHEREFORE, IN CONSIDERATIO'\ of {he payment of SIO.OO and other good and y~lllabIc consideration, {he receipt and suftlciency of which is hereby a~knowledged by lhe parties hereto, the Vendor and lhe Purchaser agree to amend the Agrecment as follow,; I, Section I of the Amending Agreementi, hereby dd~kd and replaced with tll" following' Descriotionofpt:Qllertvandl'urcha.ePriee 2100902 O"lTAIHO LIMITED (lhe "Purchaser"), offers to purchase from THE CORVORATION OF THE MUNICIPALITY OF KINCARI>INI( (lhe "Vendor") those land, and premises comprising approximately 15.61 acre, fronting on Awl' No. 21, in the )vjunicipality of Kine~rdine_ Province of Ontmio, briefly legHlly de:;cribcd ~s Part of Lot -I, Conce.<sion I South of Durham Road (formerly thc Township of Kincardine), now in the MunieipHlily of Kincardine, in thc County of BlUce mld desigl1ated as part of Parl 1 on PI~n 3R-6958 and "hown as Parts I, 3 and 5 on Schedule "A" atlached hereto (the "Property") at a purcha", Plice of S547,400,00 (the "Purdmse Price") ba:;cd upon n cost of $35,000.00 per acre, on the following terms and condilions: 2. The "xisting Schedule "A" 10 the Agreemen(. as at)l~nded by the First Amending Agreemeut, is hereby deleted ~nd replaced witll the Schedule "A" allachcd hcn'to. 3. The Purchaser acknowledges that il will b~ required to enter into a Site Plan Control AgrecmGntforit,d~velopmentofthePropertyandoneoftheconditions of the Site Plan Control Agreement may include a provision wl"'r~hy tile Purchaser may be requircd l(l pmvide a non-cxelusiv~ easement for utilities in favour of the Vendor (the "Ltilities Eascmcm"). Should lhe Utilities Easemdll be wquired, the parties agree to use lheir best efforts t() agree on the forlll ilnd content of same. The Purchaser shall bel'esponsihle for allCOSlS~SsoeiMedwithtlleLtilitie,Easement. 4. 111 the event that lhe Purchaser has not applied for a builJing perrni t for the construction of ~ building Qn Pan I of Schedule "A" on or before 72 (seventy-two) months after the -,-, //;', _0 , /7:-'__. ,~,-., . . . . 2 Closing Date (the "Option Date"), then the Vendor shall have the option to purchase that portion of the Property described as Millenium Way Extension on Schedule "A". The purchase price for the Millenium Way Extension shall be $35,000.00 per acre. The Vendor shall have 12 months from the Option Date to provide notice of its intention to purchase MiIlenium Way Extension, after which time, if the Vendor has failed to provide notice of its intention to exercise its purchase option, the purchase option shall be null and void. 5. It is understood and agreed that if there is any variance in the acreage of the Property and the acreage set out in Section 1 above, the Purchase Price shall be adjusted accordingly based on the per acre price used to calculate the Purchase Price set out in Section I above. 6. The Zoning Condition Date as set out in S.6.3 of the Agreement is hereby extended until December 3,2007. 7. This Second Amending Agreement shall be irrevocable by the Purchaser until November 8, 2007 at 5:00 p.m. 8 Any terms which are not specifically defined herein shall have the same meaning as set out for such terms in the Agreement (as amended). 9. This Second Amending Agreement may be executed in any number of counterparts. A party may send a copy of its executed counterpart to each other party by facsimile transmission instead of delivering a signed copy original of that counterpart. Each executed counterpart (including each copy sent by facsimile transmission) shall be deemed to be an original and all executed counterparts taken together shall constitute one agreement. 10. Save and except as amended herein, the Agreement and First Amending Agreement are unamended and in full force and effect. Dated as of this 6th day of November, 2007. 2100902 ONTARIO LIMITED Per. 'c~ ._~ =:> .J Per: UWe have authority to bind the corporation THE CORPORATION OF THE MUNI ALIT CARDINE , .; -" c Pet. -~ ! l' ! -,' ~ ." .. 'I , Per: <\ r " '-- ::- e G--1__"'-cv\ V C' / j UW e have authority to bind the corporation , I , , > , > "'I Ul ~, I \ !~. , r j 7 -'" _ / F"'I / / /" ! /1 / / / V" , / /~ / /',1, / ' -- ~ / /' / r I' /' / ! I /" / / , _ /' /" / la ."'"' ./ ~_._oo Viii <:> i f'rea == 10.28 Acres /.r1 ffi "'. I / - /' J... e' / I x . / ~ /' l~ 1/ / // I~ If / /... Ii: r , , )/. , - .' "" : /" / 'I~ :1 / ./ -'- // I z , ,t" "'- / I W ! / / 8-0 ? 1...1 / / ~",? / I::!i / V /' 1;;;1 //Go"f-/ VI / /1' / " /' I /' ./ . I - / /" r / / I / / I l --~ - I-.........~- ~"- ""'-"'-"'~- --...... - ~"-"';:..~ "" -"'- , , -- :j: ';;" ~:" ~ : :;: ~, ,-_._~~ ..........,..... "- -, ~ ....."''''."" . ,-, """"''''.'''''''''''"".'''''''''' ",,,,."",,.....,- """"'''''''''' ,,--"" ""'" ,....,,,.... -. Schedule 'A' = -" =:--.. Si.'-'it.'-..... ----- - -- -- -- --~~-_.__. _._~~-_._-- ""'-,"'=~ ,-- ,..__~~_N.__ .._""M_~~K__~ ..~---- '''_''_.MH~.__ '-""'''' . . - - f' - / , I . . , -=-""~ - , . . , , , ..."l'!""'" -7 , , , J.28 Acco~ '"""'--'''' ~_._" "'",,,'- ""'Err Arec..;.12A",.s I '"" , , ! Moo , I . ~ .. ""-=, Aroa ~ 1.16 Aores . . . . j , , , I . i - , , I lo.-~ =~,;-,.#,:.~ ..-.-." - U"A\,f)S Area = 2GB +/- Acr~" , --- ~_._.. l.O" , R. -- - $, D I ...-....,""'-.' '"' ~_.-.. CONCf:SSION 1