HomeMy WebLinkAbout08 146 Bruce Telecom Agreement
>;L1
25
~
-<
u
~
>'-<
o
>-
f-<
~
....l
~
o
~
:2
>;L1
::c:
f-<
>'-<
o
z
o
~
o
~
o
u
>;L1
::c:
f-<
e
~
~
~
~
10
"It
....
,
CO
o
o
N
o
Z
z
<(
o
I-
Z
0::
w
!z~
WO
cO
ZW
<(....I
W
ZI-
<(W
00
....I::::l
<(0::
Wal
NJ:
-I-
0::_
03:
J:I-
I-Z
::::lW
<(~
OW
I-W
~~
....1<(
,
>-
al
<(
Cl
Z
ill
al
ro CD
CD=
""'-
ro ro
E=
o CD
-",
~o
._ 0.
ro ....
0.::J
._ 0.
.>2 ;.,
c c
::J ro
E ....
o ..
ro _ ~
'" ;.,=
CD "C ro
N 0.9-
'c.c u
o .-
..c""C
_O::J
::J 0.2
ro ::J CD
r--o..c
0""-
..... 01_
.0
'" c '"
0-
....."''''
0"" CD
o CD""
N 0. CD
~~
'ti'cQ.)
<I::ro..c
0-
--c
ro ._
o.c
.- ro CD
.>2 0..Q
C - 0
::Jro-
~"-~
CD 0 CD
..c ;.,:2
-ro'"
1Il :5: c
<(;.,8
W..Q_
0:: .'(3
w-c
J: C ::J
>roo
> o,U
CD CD
c..c
.- -
"C
.... C
ro .-
g E
.- 0
:::C:u
- CD
0-
;.,CD
:~~
ro CD
o.u
.- ::J
U ....
'c al
::J
2=
CD';i:
..c_
-C
'0 CD
c E
o CD
+=>~
~Ol
o ro
e-c
o ro
UO
CD ro
..c
1-0
--
0.0:
.- ....
u CD
c-
;:::::l: C . ~
oCDO
o
Uoci
CD-O
..cCDO
-- .
1Il..Q0
<(roo
.!!l (")
W> .
O::"C;;;
wro_
J::!::o
3:","E
cE15
ZgsE
<("Cro
e
-
o
;.,
:!::
ro
0.
:~
c
::J
2
CD
..c
-
-
o
c
o
:;:::
~
o
0.
....
o
U
CD
..c
I-
'0
'(3
c
15 ~
Uo
CD.E
= '"
ro
wlIl
0::1-
00
lJ..<(
Wz
O::w
W CD
J: c
I- .-
"E
3:~
0.0:
Z:::C:
c c c
.-.- ro
.- 0
C::J-
ro 0
o ~ CD
--..c
co 35--
CD","C
> ro c
o ro
.... '"
0. E'
c..... <I::
ro CD'
CD-
c..c..91
~ ~ :J::'
....:5:"Cal
ro CD,
UE..cCD
c u-
.- 0 (/) ::J
:::C: U "C
_CD",CD
OCDro..c
;.,1- U
:;: CD 0 (/)
co:u....(/)
o.:J~co
.- l- Q)
.>2 CO ..c .8
c CD
:::J .9 "'0 Q;
20CD..c
CDO..c"C
..c . U CD
+-,oco..c
,+-o~()
oo.roro
cO .:1::
OOe co
+:iMQ) ~
~"':ECD
o Yl- CD ::J
0. '+- Q) ""0
s...Ol-Q)
o 01 ..c
U- U
c ro '"
Q,):::Jc:_
..c 0 ro c
I- E 0 CD
_ro-E
ro CD CD ;.,
..c..c..cro
1-__0..
.....
....
CD
..c..c
:=:0
:5:;.,
Q.>e C
..cCDro
I-E"C
_CDc
o CD ro
~ 0,::-
~ro;;:'
~~CD
cO.@
o CD CD
...c ..c
c _ U
.2> oJ (/)
'" c '"
o:cro
-""0
"Cro_
CD U ~
.t:!.o: CD
5:::C:..c
..c-"C
-OCD
::J ;.,..c
co:!::::: c.>
CD - ro
~ro_
~ 0.-
0'(3 ro
<I::'c .!!l
U::J..c
"C 2.>2 .
cQ).c~
ro..c:5:c
""-ECD
~'O 0 E
ro c U ::J
20 CD U
.- CD 0
CDrol-"C
..c"" "C
+--oQ.)Q)
...... C.u_
ro ""0 ::J ro
..c .... -
I-Ual~
N
'05
c ';i:
o
+:i "'0
ro CD
.... -
o ro
e- '(3
00
U~
CD ro
..c",
I-"E
'0 CD
_E
-::J
ro U
..co
~"C
c"C
o ~
C ::J
010-
"00 ~
.8;.,
"Cc
CD ro
.t:! CD
o.~
..c"E
'5ro
ro U
c
CD'-
..Q:::C:
.... -
CD 0
....
::J;.,
~~ CD
~ ~ :J
I-:~ al
CDCC ..c
..c ::J ro U
:::;20(/)
~ CD.!!l
1-==
(") "It
,
;.,
..Q
CD
..c
-
-
o
1:
ro
0.
E
....
.E
o
-
~
CD
..c
"C
CD
..c
U
ro
:I::
ro
~
..91
::J
"C
CD
..c
U
(/)
"C
C
ro
::c
-
ro .
..c :5:
I-.!!l
e
CD
01
ro
'"
'"
ro
0.
ro
c
<;:::
'"
:!::
c
o
0.
::J
-
U
&
CD
"C
C
ro
CD
U
....
.E
.2
o
-
.0:
CD
E
o
U
ro
..c
'"
:5:
ro
>,
..Q
.!!l
..c
I-
L()
N
-
e
~
CIl
..
>-
OJ
-
c(O
Q)..;-
E.....
Q) ,
~co
N~g
Q)CN
Ol CIl '
CIl 0 0
c......JZ
E ~
o.!!1
u '
Q)>-
-OJ
Q)
I-
Q)
U
:J
....
OJ
,
>-
OJ
-
c
Q)
E
Q)
Q)
....
Ol
<(
c
CIl
o
...J
E
o
u
Q)
Q)
I-
Q)
U
:J
....
p:l
Q)
.s:::
-
'"
CIl
-0
Q)
-
'0
Q)
.a
>-
CIl
E
~
CIl
>-
.a
"', '
.- ~
.s:::CIl
1--
(0
e
co
o
o
N
....;-
'"
:J
Ol
:J
<(
-
o
>-
CIl
-0
.c
'"
.....
.~
.s:::
-
w
::ii:
i=
c
z
o
u
w
en
-0
c
CIl
I-
en
e:::
u::
CIl
C
<(
w
e:::
1~
co
o
o
N
....;-
'"
:J
OJ
:J
<(
-
o
>-
CIl
-0
.c
'"
.....
.~
.s:::
-
c
w
en
~
0..
~
...J
<(
Z
u::
-0
C
CIl
w
::ii:
i=
c
e:::
J:
I-
CIl
c
<C
w
e:::
-'"
....
Q)
()
e
e
e
BETWEEN: Municipality of Kincardine (Lender)
1475 Concession 5
RR#5
Kincardine, Ontario
N2Z 2X6
This is Schedule "L" to By-Law
()DO'i;- \;2.t\'1
No. 141b passed the ~ day
of-Au.c L"_ - 200S?
-~ ~~oJQ
Clerk
"
Loan Agreement
.....
AND: "Borrower"
Bruce Telecom of the Municipality of Kincardine
3145 Highway 21 North of Tiverton
RR#5
Tiverton, Ontario
NOG 2TO
Descriution of Loan
Fixed interest rate, term loan
Purnose of Loan:
finance unusually large trade payables as a result of a one time inveutory purchase.
Loan Terms
Principal Amount
Advanced:
$1,300,000.00
Interest Rate:
4% per annum
Fees:
Upon advancement offunds $250.00
$20.00 per month
Date Funds Advanced:
August 14, 2008
First Payment Date:
September 25, 2008
Date Due:
May 25, 2009
Default Interest Rate:
21 % per annum
Pavment Schedule:
As per attached Schedule A
The loan shall be returned by the Borrower at the time
specified on this agreement. No extension of the loan will
be granted without the written consent of the Lender. Early
,
termination of the agreement does not release the Borrower
from any financial obligations set forth in this agreement.
General Conditions
1. The Lender agrees to loan the Borrower funds upon the terms and
conditions herein set out. The Borrower agrees to the terms laid out in this
document, as well as any additional terms or conditions provided in writing
to the Borrower by the Lender.
2. If the Borrower wishes to request a change in the dates, schedule or other
conditions of this agreement, they must submit the request in writing to the
Lender for approval at the address specified on the front ofthis agreement.
3. The Borrower shall have received Municipal Services Board approval prior
to finalizing this agreement.
THE CONDITIONS OF THIS LOAN AS STATED ABOVE ARE ACCEPTED:
On behalf of Bruce Telecom
I have the authority per Municipal Service Board policies to bind the Board.
Signature: V,.h..; ryr'P.J ~
~f
Name: WI/!"''''' tf) ,<). ffJl'C I (
Title: kJ,~c, C::-fi>mt2.Ja.!) }'Y10J)O/V
I
Date: (;/ n 113; ,:),00 fr'
On behalf of The Municipality of Kincardine
We have the authority to bind the Corporation.
Signature:
_ Signature: ~4'&Loe ~ L ~
Name: Brenda French
Title: Mayor
Title: Treasurer
Date:
~",,/ IJ/-1-voR
Date:
A-u.rJ /'1 ZOV?
~
Bruce Telecom
Loan Payment Schedule to Municipality of Kincardine
Loan Amount
Number of Years
# of pmts per year
Total # of PMTS ( # of Years' PMTS per year)
Interest Rate
Monthly Payment Amount
First Month Payment
$1,300,000.00
0.75
12
10
4.00%
$100,000.00 Plus interest
$500,000.00
Payment Interest Principal Total Monthly Ending
Period Payment Payment Payment Balance
August 14,2008 $1,300,000.00
September 25, 2008 5,983.56 500,000.00 505,983.56 800,000.00
October 24, 2008 2,542.47 100,000.00 102,542.47 700,000.00
November 25, 2008 2,454.79 100,000.00 102,454.79 600,000.00
December 24, 2008 1,906.85 100,000.00 101,906.85 500,000.00
January 26, 2009 1,808.22 100,000.00 101,808.22 400,000.00
February 25, 2009 1,315.07 100,000.00 101,315.07 300,000.00
March 25, 2009 920.55 100,000.00 100,920.55 200,000.00
April 24, 2009 657.53 100,000.00 100,657.53 100,000.00
May 25, 2009 339.73 100,000.00 100,339.73 0.00
17,928.77 1,300,000.00 1,317,928.77 0.00