HomeMy WebLinkAbout08 162 Reassign Airport Hanger Matchett
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THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2008 -162
BEING A BY-LAW TO AMEND BY-LAW NO. 2007 -105
BEING A BY-LAW TO AUTHORIZE THE SIGNING OF A LEASE AGREEMENT
FOR THE RENTAL OF LAND AT THE KINCARDINE MUNICIPAL AIRPORT
WHEREAS Section 8 (1) of the Municipal Act, 2001, S.O. 2001, c. 25, as
amended, provides that the powers of a municipality under this or any other Act
shall be interpreted broadly so as to confer broad authority on the municipality to
enable the municipality to govern its affairs as it considers appropriate and to
enhance the municipality's ability to respond to municipal issues;
AND WHEREAS pursuant to the said Municipal Act, Section 9 provides that a
municipality has the capacity, rights, powers and privileges of a natural person
for the purpose of exercising its authority under this or any other Act;
AND WHEREAS with the passing of By-law No. 2007 - 105 the Council of The
Corporation of the Municipality of Kincardine entered into a lease agreement with
Matchett Financial Services Inc. for rental of land to house an airplahe hangar at
the Kincardine municipal airport located on Concession 'A' pt Lots 26 to 29, RP
3R-438, Parts 2 to 8, RP 3R-3803, Parts 1 to 5, RP 3613, Part 1;
AND WHEREAS Section 16 of the agreement attached as Schedule 'A' to By-
law No. 2007 - 105 states that the Tenant may assign the said lease provided
that the Landlord has provided written consent, such consent to be granted or
withheld at the sole, unfettered discretion of the Landlord;
AND WHEREAS Matchett Financial Services Inc. wishes to assign the said
agreement with the Municipality of Kincardine to Matchett Financial Investments
Inc.;
NOW THEREFORE the Council of The Corporation of the Municipality of
Kincardine ENACTS as follows:
1. That The Corporation of the Municipality of Kincardine assign the said
agreement, formerly with Matchett Financial Services Inc. to Matchett
Financial Investments Inc.
2. That the Mayor and CAO be authorized to sign, on behalf of The
Corporation of the Municipality of Kincardine, the Consent Agreement with
Matchett Financial Investments Inc., attached to this by-law as Schedule
'A', and to affix the corporate seal as required.
3. That this by-law shall come into full force and effect upon its final passage.
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Assign Airport Lease Agreement (Matchett Financial Investments Inc.) By-law
By-law No. 2008 - 162
4.
That this by-law may be cited as the "Assign Airport Lease Agreement
(Matchett Financial Investments Inc.) By-law".
READ a FIRST and SECOND time this 1st day of October, 2008.
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Clerk
READ a THIRD time and FINALLY PASSED this 1st day of October, 2008.
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Clerk
This is Schedule n".zL n to By-Law
JOV?l" - s+
No. Ile;1 passed the ...J:=::.. day
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CONSENT
To: Matchett Financial Services Inc.
To: Matchett Financial Investment Inc.
RECITALS:
A. Matchett Financial Services Inc. and The Corporation of the Municipality of
Kincardine ("Municipality") are parties to a Lease Agreement ("the
Contract") dated July 11th, 2008.
B. Matchett Financial Services Inc. wishes to assign to Matchett Financial
Investment Inc. all of its right, title and interest in and to the Contract.
C. Matchett Financial Investment Inc. has agreed that as of October 15\ 2008
(the "Effective Date") it will assume responsibility for the discharge and
performance of Matchett Financial Services Inc. obligations under the
Contract to the extent that such obligations are to be observed, paid,
discharged or performed, as the case may be, at any time after the
Effective Date and which arise out of events occurring after such time.
Based upon the foregoing:
1. The Municipality acknowledges that the Contract is in full force and
effect and that, to the Municipalities knowledge, Matchett Financial
Services Inc. is not in default under the Contract.
2. The Municipality consents to the assignment of the Contract to
Matchett Financial Investments Inc. and, in consideration of Matchett
Financial Investments Inc's assumption of Matchett Financial Services
Inc's obligations under the Contract, agrees that upon assignment,
Matchett Financial Services Inc. will be released and forever
discharged from any obligations or liabilities under the Contract arising
after the Effective Date and for which Matchett Financial Investments
Inc has assumed responsibility.
3. In consideration of the Municipality's consent to the assignment of the
Contract to Matchett Financial Investments Inc. the Municipality
understands that it will be entitled to enforce the Contract (to the extent
that the obligations and liabilities there under have been assumed by
Matchett Financial Investments Inc.) directly against Matchett Financial
Investments Inc. and will have a direct right of action against Matchett
Financial Investments Inc. in respect of those obligations and liabilities
as if Matchett Financial Investments Inc. had executed and delivered
the Contract.
4. The Municipality understands that this consent does not in any way
derogate from the rights of the Municipality under the Contract or
release Matchett Financial Investments Inc. from the observance and
performance of all the terms, covenants, and conditions on the part of
Matchett Financial Services Inc. contained in the Contract.
5. The Municipality understands that this consent does not constitute a
waiver of the requirement for consent to any further assignment of the
Contract, and for any such assignment to be effective, shall require the
prior consent of the Municipality as set out in the Contract.
Dated this 1st day of October, 2008
Per: ...A,-.a
ry Kraemer
Per' - C ~ A~~,,--:Lc> "^~
Name: John deRosenroll
Title: CAO