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HomeMy WebLinkAboutKIN 89 074 Agree - M.T.O . . THE CORPORATION OF THE TOWN OF KINCARDINE BY-LAW NO. 1989-74 BEING A BY-LAW TO PURCHASE A PARCEL OF LAND FROM HER MAJESTY THE QUEEN IN THE RIGHT OF THE PROVINCE OF ONTARIO REPRESENTED BY THE MINISTER OF TRANSPORTATION FOR THE PROVINCE OF ONTARIO WHEREAS 'l'he Corporation of the Town of Kincardine is interested in buying the lands hereinafter described; 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 tne Offer to Purhcase attached as Schedule "A" with Her Majesty the Queen in the right of the Province of Ontario represented by the Minister of Transportation for the Province of Ontario and to further execute such other documents as they may deem adviseable to fulfill the said Offer to Purchase. 2. The lands referred to Huron Road and Part Avenue being Part 1 Kincardine, County of consist of Part of Park Lot 7, west of of Park Lot 2, south of Kincardine of Reference Plan 3R-4529, Town of Bruce. 3. The purchase price of said land shall be Sixteen Thousand, Nine Hundred and Thirty-five Dollars ($16,935.00) READ a FIRST and SECOND time this 15th day of June, 1989. ~zæ/iI Qf~yU Mayor ~~fk- READ a THIRD time and FINALLY PASSED this 15th 1989. day of June dvJtI !Jfd#Æ Mayor ...._-- C rk ® Ontario . . . SCHEDULE "A" . Ministry of Transportation and Communications L-04113 87-32-835 21 5 S/W P-2337-73 File No. W.O. No. Hwy. No. District Region P-Plan No. OFFER TO PURCHASE - SURPLUS LANDS I/WE The Corporation of the Town of Kincardine Town Hall 707 Queen Street Kincardine, Ontario ( address) N2Z 1Z9 The undersigned, hereinafter called the Purchaser, being of the full age of eighteen years and having inspected the property hereby offer and agree with HER MAJESTY THE QUEEN in the right of the Province of ontario represented by the Minister of Transportation for the Province of Ontario, hereinafter referred to as the Vendor, to purchase the property hereinafter described, which is adjacent to the lands now owned by me (us), subject to the terms and conditions hereinafter set out. IN THE Town of Kincardine (City, Borough, Town, Township, etc.) in the County of Bruce (County, District, Regional or District Municipality) being in Part of Park Lot 7, West of Huron Road and Part of Park Lot 2, South of Kincardine Avenue (Lot, Block, Concession or Registered Plan) shown as Part 1 on Ministry Plan P- 2337-73 deposited (deposited or recorded) in the Land Registry Office as Plan 3R-4529 for the smn of Sixteen Thousand, Nine Hundred and Thirty Five ($16,935.00) Dollars said monies to be paid by certified cheque made payable to The Treasurer of Ontario on or before the date of closing. It is understood and agreed that the date of closing shall be sixty (60) days after the purchaser(s) has/have received notice in writing that the Vendor has accepted this offer. Time shall be of the essence. Possession of the property to be given on closing and the Purchaser shall assume all the risks and responsibilities in connection therewith. It is understood and agreed that this sale is subject to the following condition(s) which, at the option of the Ministry of Transportation, may be included as a covenant in the conveyance. 1. The Purchaser hereby acknowledges that he is purchasing this property subject to all rules, regulations, directions or restrictions imposed by statute or municipal by-law or otherwise, governing the use of the subject property, and he hereby assumes all of the obligations and risks associated therewith. ® Ontario . . . . Ministry of Transportation and Communications 2. The Vendor gives no warranty concerning the as to the purpose for which it may be used. said lands by one deed. condition of the property nor The Vendor will convey the 3. The Purchaser is to be allowed 15 days from date of acceptance to examine the title at his, (her, their, its) own expense. If within that time any valid objection to title is made by the Purchaser which the Vendor is unable or unwilling to remove and which the Purchaser will not waive, this Agreement shall be null and void. 4. It is understood and agreed that the following condition shall not merge with the conveyance on the closing of this transaction. The parties agree that the subject lands are being sold to the corporation of the Town of Kincardine at the market value rate of $33,607.00 per acre. If the Corporation of the Town of Kincardine enters into a subsequent binding agreement of purchase and sale for all or any part of the subject lands at a rate in excess of $33,607.00 per acre prior to July 1, 1994, the Corporation of the Town of Kincardine shall forthwith pay to the Ministry the difference between the per acre price in the subsequent agreement and $33,607.00 per acre, multiplied by the number of acres sold. 5. The grant in the deed will be qualified as being subject to a restrictive covenant. 6. There will be a covenant in the deed stating: "TO THE INTENT that the burden of the covenant hereinafter set out shall run with the hereinbefore described lands and be annexed to the whole and to each and every part of the said lands, the Transferee hereby covenants and agrees with the Transferor as follows: the subject lands are being sold to the Corporation of the Town of Kincardine at the market value rate of $33,607.00 per acre. If the Corporation of the Town of Kincardine enters into a subsequent binding agreement of purchase and sale for all or any part of the subject lands at a rate in excess of $33,607.00 per acre prior to July 1, 1994, the Corporation of the Town of Kincardine shall forthwith pay the Ministry the difference between the per acre price in the subsequent agreement and $33,607.00 per acre, multiplied by the number of acres sold." 7. The purchaser agrees to execute the deed. I/WE hereby undertake to obtain consent from any mortgagees holding a mortgage on the adjacent property now owned by me (us) to any conveyance which the Ministry of Transportation may deliver to me (us), and if requested by such mortgagee, will give to him a new mortgage on my property which will include the lands being acquired from the Ministry of Transportation. Dated at Kincardine this 15th June 1989 day of Witness: ,¡J ¡j QÆ-IÎ ÆJ!hU/ l1ZtYÞP\- (Seal) Purchaser: Date of Birth "Mélyor" ~~::.u May/534