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HomeMy WebLinkAboutKIN 91 075 Purchase Fenton Land THE CORPORATION OF THE TOWN OF KINCARDINE . BY-LAW BY-LAW NO. 1991-75 A BY-LAW TO AUTHORIZE THE PURCHASE OF LANDS FROM RONALD H. FENTON AND PAULINE J. FENTON. WHEREAS The Corporation of the Town of Kincardine, the Corporation of the Township of Kincardine and Ronald H. Fenton and Pauline J. Fenton have entered into an agreement of Purchase and Sale for the purchase of Part of Lot 28, Concession "A" in the Township of Kincardine in the County of Bruce; AND WHEREAS Kincardine Town Council deems it expedient to purchase these lands for airport purposes; NOW THEREFORE the Council for The Corporation of the Town of Kincardine ENACTS as follows: 1. The reeve and clerk are hereby authorized to execute such documents as they may deem advisable to purchase such lands from Ronald H. Fenton and Pauline J. Fenton in accordance with the Agreement of Purchase and Sale dated the third day of September, 1991 and to affix the corporate seal to such documents. 2. The lands referred to consist of Part of Concession "A" in the Township of Kincardine county of Bruce being more particularly described 1 on Reference Plan 3R-2549. Lot in as 28, the Part 3. The purchase price for the said land shall be Two Hundred and Ten Thousand Dollars ($210,000). 4. This its by-law shall come into full force and effect final passage. upon 5. This by-law may be cited as the "Fenton Land Purchase By-law". READ a FIRST and SECOND time this 18th day of July, 1991. . (' þ/ READ a THI 1991. ime and FINALLY PASSED this 8th day of September, ~-.............-,~ Reeve ~-~. Newsome and Gilbert, Limited Form LFI090 (2/85) Q )ffrr tn 'urrl1uør AGREEMENT OF PURCHASE AND SALE THE CORPORATION OF THE TOWN OF KINCARDINE AND THE CORPORATION.OFTHE TOWNSHIP OF KINCARDINE KWIC ~ a¡:x (as Purchaser), having inspected the property. hereby agree to and with RONALD H. FENTON and PAULINEJ. FENTON (as Vendor) . ugh urchase All and Singular the premises~~~ Agent for Vendor >IJG1CMX in the Township of Kincardine known as havin~ a frontage of 300 feet more or less, by a depth of 500 feet approx. 3.44 acres more or Jess. being Part of Lot No. 28, Cone. A iK¡ (¡KIIli!p(j)eiK~ registered in the Land Registry Office for the Regjstr~'/ XXO{:XDa/K Division of Bruce (No.3) being Part 1, Plan 3R~2549 (herein called the "real propeny") at the price of -_-_TWO HUNDRED and TEN THOUSAND--------- ---FIVE THOUSAND------ Dollars ($ 210,000.00 célsh of lawful money of Canada, payable h c eque to the said Agent~~ on this date as a deposit to be held in trust pending completion or other termination of this Agreement and to be credited on account of the purchase price on closing, and agree to pay the balance of the purhcase price subject to the usual adjustments, in cash or by certified cheque, to the Vendors' solicitor on closing. Dollars ($ 5,000.00 This 1. 2. Agreement is conditional upon: The Purchasers obtaining funding satisfactory to them from the Ministry of Transportation and Cormunications on or before the 20th day of September 1991, and The Purchasers passing bylaws authorizing them to purchase the real property, failing which, this Agreement shall become null and void and the Purchasers' deposit returned to them in full without interest or deduction. These conditions are inserted solely for the benefit of the Purchasers and may be waived by them at their option. See SCHEDULE "A" attached hereto. 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. If by the date of closing the Vendor has not either (a) complied with such deficiency notice or work order, or (b) settled 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. The spouse of the Vendor shall consent to this Agreement, and shall agree to consent to the transaction evidenced by the deed or transfer. Tenancy, if any N/A The purchase price herein shall include the following, free and clear of encumbrances: All fixtures, which shelll remain affixed to the real properly. except the following fixtures which may be removed by the Vendor prior to dosing: The following chattels all of which <lrC owned by the Vendor: This OfJershall be irrevocable hy Ihe Purchaser until11: 59 p.m. on Ihe 5th day of September 1991 er which time, if not accepted, this Offer shall be null and void and the deposit returned [0 the Purchaser without interest or deduction. Provided the title is good and free from all encumbrances, except as aforesaid, and except local rates. and 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, regulations and orders, provided the same have been complied with. Vendor agrees to authorize municipal and other governmental authorities to release unto the Purchaser or his 80liciwr any information on file pertaining to such requirements. /until closing The Purchaser to be allowed days from the 'date of acceptance hereof to investigate the title at his own expense, and to satisfy himself that there is no breach of municipal or other governmental requirements affecting the real property, and that its present use may be lawfully continued. If within the time allowed for examining title, the Purchaser shall furnish the Vendor in writing with any valid objection to title, or to any breach of municipal or other governmental requirements, or as to the fact that the present use may not lawfully be continued, which the Vendor shall be unable or unwilling to remove, remedy or satisfy and which the Purchaser will not waive, this Agreement shall, notwithstanding any intermediate acts or negoûaûons, be null and void and the deposit money returned to the Purchaser, without interesl or deductions 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 time, the Purchaser shall be conclusively deemed to have accepted the Vendor's title to the real property. Newsome and Gilbert, Limited Form LFI091 (10/86) Offer to Purchase Page 2 The Purchaser 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 Vendor. The Vendor agrees that he will deliver any existing survey 10 Ihe Purchaser so soon as possible and prior to the last day allowed for examining title. This Agreement shall be completed on or before the 25th day of September pos.~ession of the real property shall be given to the Purchaser unless otherwise provided for herein. , ] 9 91 on which date vacant 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 .1] hold all policies of insurance effected J)n the property and the proceeds thereof in trust for the parties hereto, as their inte~sts may appear. he event of damage to the said buildings and equipment before the completion of this transaction, the Purchaser shall have the right to elect ke such proceeds and complete the purchase, or cancel this Agreement, whereupon the Purchaser shall be entitled to the return, without rest 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 insurance premiums, fuel. taxes, interest. rentals. and all local improvcment and water rates and other charges for muni- cipal improvements to be apportioned and allowed to the date of complelion of sale (the da)' itself to be apportioned to the PlIrch¡ISer). Provided Purchaser may elect not to accept assignment of fire insurance in which case no adjustmcnt for insurance premiums. The deed or transfer, save for Land Transfer Tax Affidavit, to be prepared at the expense of the Vendor in a form acceptable 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 that Ihis Agreement shall be effective only if the provisions of SectÎon49 of the Planning Act, as amended, are complied with. The deed or transfer shall contain the statem.ent 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 toam insulation. This warranty shall survive the completion ot this transaction. The Vendor represents and warrants that no consent to this tra.nsa.ction is required PU1'8u&nt to section 21(1) of the Famlly Law Act, 1986 unless the Vendor's spouse has executed this agreement to consent thereto, and that the Tnmsfer/Deed shall contain a statement by the Vendor as required by subseetion (3) of section 21 or the spoose of the Vendor shall execute the Transfer/Deed to consent thereto. Vendor further agrees to produce evidence Ihat he is not now and that on closing he will not be 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. This Offer. when accepted. shall constitute a binding contract of purchase and sale, and time in all respects shall be of the essence of this Agreement. It is agreed that there is no representation. warranty. collateral agreement or condition affecting this Agreement or the real property or supported hereby other than as expressed herein in writing. Any tender of documents or money hereunder may he made lIpon the Vendor or Purchaser or upon the solicitor acting for Ihe party on whom tender is desired, and it shall be sufficient that a cheque certified by a ch¡,rtered bank or trust company be tendered instead of cash. Each party to pay the costs of registration 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 Kincardine this 3rd day of September J99t IN WITNESS WHEREOF we have hereunto sel and seal. --' SIGNED. SEALED AND DELIVERED In the presence of: eve THE 'f~ Re,¡:;;{,4()¡ . .. .' ~/ _~ (Ætiì0;ioJ) -- (Affi,.:s.ca!J - :0 ,. ]lWe, hereby accept the above otTer. and covenant. promise and agree to and with the above-named PurchasCfl~dÜì,,_ç,~r}Y.04.rt·¡1\e ~e on the terms and conditions above mentioned. and hereby accept the deposit of $ 5,000. 00 ~~~~~""'_.' _ (_~ ~IIJIIHII: ¥:Kx.MKiXJiIKXiK\lID{~iKIliK_ìHiXdtItlIliJa{~~ ~~~iW~~~¡¡¡XK>~~ AND [, Agreement and agree to consent 10 the transaction evidenced by the deed or transfer. . spouse of the said Vendor. hereby consent to this .TEDa, O<--,,~ 5Þ.. ~vP IN WITNESS WHEREOF this ~~ day of September 1991 have hereunto set hand and seal. SIGNED, SEALED AND DELIVERED In 'he presence of: ')¡JJ ~~ RONALD H. FENTON ~('¿¡.~ . (Affix Seal) Vendor PAULINE J. FENTON F~~(AflìXSeall Venool 01 Vendor', Spouse . SCHEDULE "A" .- he Purchasers agree to pay to the Vendors an amount which shall be the sser of: (a) One-half of the cost of the appraisal which they obtained for the real property, and (b) The sum of $300.00 The Vendors covenant and agree that during the currency of the Agreement they shall not cut off the supply of water from their well on the real property to the airport lands owned by the Purchasers. Provided further that the Vendor may continue to offer the real property for sale, and in the event he receives another satisfactory to him, he may so notify the Purchaser's address. The Purchaser shall have Seventy-Two (72) hours, from time of delivery of such notice to waive this condition by notice in writing, delivered to the Vendor's agent, failing which this offer shall become null and void and the Purchaser's deposit shall be returned to him in full without interest or penalty. .