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HomeMy WebLinkAbout08 182 By-Law to Authorize Sale of Property Plan 26 Hwy #9 Bervie e e e e THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE BY-LAW NO. 2008 -182 BEING A BY-LAW TO AUTHORIZE THE SALE OF PROPERTY (Plan 26, Lots 3, 4, 5, Hwy. #9, Bervie, Municipality of Kincardine [Geographic Township of Kincardine] County of Bruce) WHEREAS Section 270 (1) of the Municipal Act, 2001, S.D. 2001, c. 25, as amended, provides that a municipality shall adopt and maintain policies with respect to the sale and other disposition of land; AND WHEREAS pursuant to the said Municipal Act, Section 8 (1) and 9 provide 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 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 the Municipality of Kincardine has declared surplus to its needs that property described as Plan 26, Lots 3, 4, 5, Hwy. #9, Bervie, Municipality of Kincardine [Geographic Township of Kincardine] County of Bruce; AND WHEREAS an appraisal was completed by the Municipality of Kincardine on June 4th 2008' , , AND WHEREAS the Council of The Corporation of the Municipality of Kincardine deems it advisable to dispose of the aforementioned property; AND WHEREAS the Municipality of Kincardine has received offers to purchase the aforementioned property, in the amount of $8,350.00; NOW THEREFORE the Council of The Corporation of the Municipality of Kincardine ENACTS as follows: 1. That the Mayor and CAD be authorized and directed to execute such documents, on behalf of The Corporation of the Municipality of Kincardine as they may deem advisable, to convey that property described as Plan 26, Lots 3, 4, 5, Hwy. #9, Bervie, Municipality of Kincardine [Geographic Township of Kincardine] County of Bruce, and to affix the corporate seal of the Municipality of Kincardine. 2. The sale price for the said property be Eight Thousand, Three Hundred and Fifty Dollars ($8,350.00). .../2 e e e e Page 2 Bervie Land Sale By-law By-law No. 2008 - 182 3. That this transaction is subject to the conditions set out in the Agreement of Purchase and Sale attached hereto as Schedule 'A' and that fifty percent (50%) of the net proceeds from this sale shall be credited to the Kincardine Economic Development Fund and fifty percent (50%) of the net proceeds from this sale be credited to the Municipality of Kincardine Capital Reserve Fund. 4. This by-law shall come into full force and effect upon its final passage. 5. This by-law may be cited as the "Bervie Land Sale By-law". READ a FIRST, and SECOND time this 1zth day of November, 2008 '- un\! ~l~ ~~OQ~ QC Y\ -, READ a THIRD time and FINALLY PASSED this 1zth day of November, 2008 (lnl).dwy~, ct1-)~O f\rD n , '0t-p.u...-tcr Clerk L-> , . t)REAontariO RealEstale Association SCHEDULE lA' By-law 2008-182 L/ . 100 Agreement or Purchase and Sale .jl,""'.:-.;.oth'P'~~;:::fOO"';O kG,r ..~\; . , J ~ f_____"...---~'~-~ This Agreement of Purchase and Sale dated this...............2ath.............. day of ...................OctQber................. 20...o.a.. BUyER,...... .............. ....... ....... ........... .... ....Ja~.OD..T.Ow.n~...................... .............. ................., agrees to purchase from (Full legal names of all Buyers) SELLER,.............. ............. ....... ................ ..MuDjQiP.alit)( .D.t.!<;inC.9r.<;t.inlO............... .................... _..............., the following (Full legal names of all Sellers) , REAL PROPERTY: Address................ ..lQt~.3,.4..ao.<;t..o...P..lao.2.6,.KinQardine.,'ODI.9rio.. .......... ..... fronting on the .... ..... ...South... .... .... side of............... Highw.ay. #9............... in the. .MJJDic.ipality. of. Kinc.ar.<;tjne.(fQr.mer.IY.Kinc.ar.<;tJne. J oWfJ~hlp.), .CQunty. of. BrJ.Jce. and having a frontage of ...........JaJ...6.1.F..e.el............ more or less by a depth of ............HB..16.F.lOlOt........... more or less and legally described as ...... .lol~. 3,.4 .and. .0.. P.l.9fJ. 26..Municip.Q)ilY. .0.1. ~iD.Gardine. .(fo.r.merjy. Kinc.ar:difJlO. JowfJ~h.ip)........ ................................."(Legaj'descrfpiiono{janR,~1~?;:~~~t;not'd..s:;d~......_....................._;;::'!~1 d "S- PURCHASE PRICE: ~..'. Dollars (CDN$)................a.e.~.~,!\..~.(,.. @1 ~ ii., ... j V'V. 1)/" ................................................... .Eit,/f.,T:....~ .tho.u.san. . ..j.l1lZfE/t.r.llJ!tltk4 .IJJ.'!JJ.. p.r..'T.y....... Dollars , 7 . f DEPOSIT: Buyer submits............................... .....wHhin. 7.2.hQurii .0.1. .ac.GlOpl~nQe.o.f..thls. Qffl'lr.......... ........... ............ (Herewith/Upon Acceptance/as otherwise described in this Agreement) ........................................ ...... fhl.e. hun.dr.e.d.............. ...................... ........... Dollars (CDN$).............. .0.00.00.............. by negotiable cheque payable to.................Ro)(aJ.Ll'lP.age.E;xchaJJ91O.Reall)(.Co..Bmke.r.a9.e................. "Deposit Holder" to be held in trust pending completion or other termination of this Agreement and to be credited toward the Purchase Price on completion. For the purposes of this Agreement, "Upon Acceptance" shall mean that the Buyer is required to deliver the deposit to the Deposit Holder within 24 hours of the acceptance of this Agreement. The parties to this Agreement hereby acknowledge that, unless othelWise provided for in this Agreement. the Deposit Holder shall place the deposit in trust in the Deposit Holder's non-interest bearing Real Estate Trust Account and no interest shall be earned, received or paid on the deposit. Buyer agrees to pay the balance as more particularly set out in Schedule A attached. SCHEDULE(S) A.............................and.':6.':............................. at;~t.~ret:n 1. IRREVOCABILITY: This Offer shall be irrevocable by ..........[seH~i~C~~i5t/tfERu 'i.I ~.j the ..............30th............. day of ...................Qctob.er................... 20...08.... after .., me, if not accepted, this Offer shall be null and void and the deposit shall be retumed to the Buyer in full without inlt\rest. 2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m. on-!i'te .........a~.plOr.........~ -ef.....S.c!J.edJ.JJe.:.A':.attachlOd....,~........ . Upon completion. vacant possession of the property shall be given to the Buyer unless othelWise provided for in this Agreement. 3. NOTICES: Seller hereby appoints the Listing Brokerage as Agent for the pUlpose of giving and receiving notices pursuant to this Agreement. Only if the Co-operating Brokerage represents the interests of the Buyer in this transaction, the Buyer hereby appoints the Co-operating Brokerage as Agent for the purpose of giving and receiving notices pursuant to this Agreement. Any notice relating hereto or provided for herein shall be in writing. This offer, any counter offer, notice of acceptance thereof, or any notice shall be deemed given and received, when hand delivered to the address for service provided in the Acknowledgement below, or where a facsimile number is provided herein, when transmitted electronically to that facsimile number. FAX No. .........."...................... (For delivery of notices to Seller) FA)(N6. ...........................,...... (For delivery of notices to Buyer) INITIALS OF BUYER(S): C~ =:> INITIALS OF SELLER(S): ~ rn @2008, Ontario Real Estate Association ("OREA"), All rights reserved. This form was developep by OREA for the use and reproduction ~ of its members and licensees only. Any other use or reproduction is prohibited except with priprwritten consent ofOREA. Form 100 2008 Page 1 of 5 filogfx forms'" 2008 Royal LePage Exchange Realty Co. Brokerage 4, CHATTELS INCLUDED:",,,,,,,,,,,,,,,,,,,,,,,,,...,,,,,.,,.,,,,,,,,,,,,,,,.,,,,,,,,NIA,,,,'"'''''''''''''' ",,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.',,,, 5, FIXTURES EXCLUDED:, ,,,.,,, "." ",,,.,, ""'''''''''''' ",.""",.".,,, ,,,.,,N/A,,, ",,,.,,, """'" ",.""", ",,,.,,, """""".""" 6, RENTAL ITEMS: The following equipment is rented and not included in the Purchase Price, The Buyer agrees to assume the rental contract(s), if assumable: ,,,,,,,.,,,,,,,,,,,,,,,,,,,,, ",.""""."", """",N/A.""..""""."",,,,,,, """,."."""""""",,, 7, GST: If this transaction is subject to Goods and Services Tax (G,S.T.), then such tax shall be ."""""in.ilQ~HtiQn.to"".""", . (included in/in addition to) the Purchase Price, If this transaction is not subject to G,S,T" Seller agrees to certify on or before closing, that the transaction is not subject to G.S,T, 8. TITLE SEARCH: Buyer shall be allowed until 6:00 p,m, on the """."."""."", day of..".".""cJ,o.sjng"."""", 20"""" (Requisition Date) to examine the title to the Property at Buyer's own expense and until the earlier of: (i) thirty days from the later of the Requisition Date or the date on which the conditions in this Agreement are fulfilled or otherwise waived or; (iI) five days prior to completion, to satisfy Buyer that there are no outstanding work orders or deficiency notices affecting the Property, and that its present use (""""""""".""""""""""",R,.1,and,EP.""""."""""""""""""""".) may be lawfully continued and that the principal building may be insured against risk of fire, Seller hereby consents to the municipality or other governmental agencies reieasing to Buyer details of all outstanding work orders affecting the property, and Seller agrees to execute and deliver such further authorizations in this regard as Buyer may reasonably require. 9, FUTURE USE: Seller and Buyer agree that there is no representation or warranty of any kind that the future intended use of the property by Buyer is or will be lawful except as may be specifically provided for in this Agreement. 10, TITLE: Provided that the title to the property is good and free from all registered restrictions, charges, liens, and encumbrances except as otherwise specifically provided in this Agreement and save and except for (a) any registered restrictions or covenants that run with the land providing that such are complied with; (b) any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been posted to ensure compliance and compietion, as evidenced by a letter from the relevant municipality or regulated utility; (c) any minor easements for the suppiy of domestic utiiity or telephone services to the property or adjacent properties; and (d) any easements for drainage, stonm or sanitary sewers, public utility lines, telephone lines, cable television lines or other services which do not materially affect the use of the property, If within the specified times referred to in paragraph 8 any valid objection to title or to any outstanding work order or deficiency notice, or to the fact the said present use may not lawfully be continued, or that the principal building may not be insured against risk of fire is made in writing to Seller and which Seller is unable or unwilling to remove, remedy or satisfy or obtain insurance save and except against risk of fire in favour of the Buyer and any mortgagee, (with all related costs at the expense of the Seller), and which Buyer will not waive, this Agreement notwithstanding any intermediate acts or negotiations in respect of such objections, shall be at an end and all monies paid shall be returned without interest or deduction and Seller, Listing Brokerage and Co.operating Brokerage shall not be liable for any costs or damages, Save as to any valid objection so made by such day and except for any objection going to the root of the title, Buyer shall be conclusively deemed to have accepted Seller's title to the property, 11, CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lawyer to complete the Agreement of Purchase and Saie of the Property, and where the transaction will be completed by eiectronic registration pursuant to Part III of the Land Registration Reform Act, RS,O, 1990, Chapter L4 and the Electronic Registration Act, S,O. 1991, Chapter 44, and any amendments thereto, the Seller and Buyer acknowledge and agree that the exchange of closing funds, non-registrable documents and other items (the "Requisite Deliveries") and the release thereof to the Seller and Buyer will (a) not occur at the same time as the registration of the transfer/deed (and any other documents intended to be registered in connection with the completion of this transaction) and (b) be subject to conditions whereby the lawyer(s) receiving any of the Requisite Deliveries will be required to hold same in trust and not release same except in accordance with the terms of a document registration agreement between the said lawyers, The Seller and Buyer irrevocably instruct the said lawyers to be bound by the document registration agreement which is recommended from time to time by the Law Society of Upper Canada. Unless otherwise agreed to by the lawyers, such exchange of the Requisite Deliveries will occur in the applicable Land TItles Office or such other location agre~able to both lawyers, .,) "--_....,.. INITIALS OF BUYER(S): GY~ INITIALS OF SELLER(S):~ V m @2008,OntarioReal Estate Association ("OREA'). All rights reserved. This form was developed by OREA for the use and reproduction ~ of its members and licensees only. Any other use or reproduction is prohibited except with prior written consent of QREA. Form 100 2008 Page 2 of 5 filoglx forms™ 2008 Royal LePage Exchange Realty Co. Brokerage 12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abstract, surveyor other evidence of title to the property except such as are in the possession or control of Seller. If requested by Buyer, Seller will deliver any sketch or survey of the property within Seller's control to Buyer as soon as possible and prior to the ReqUisition Date. If a discharge of any Charge/Mortgage held by a corporation incorporated pursuant to the Trust And Loan Companies Act (Canada), Chartered Bank, Trust Company, Credit Union, Caisse Populaire or Insurance Company and which is not to be assumed by Buyer on completion, is not available in registrable fonm on completion, Buyer agrees to accept Seller's lawyer's personal undertaking to obtain, out ofthe closing funds, a discharge in registrable form and to register same, or cause same to be registered, on title within a reasonable period of time after completion, provided that on or before completion Seller shall provide to Buyer a mortgage statement prepared by the mortgagee setting out the balance required to obtain the discharge, and, where a real-time electronic cleared funds transfer system is not being used, a direction executed by Seller directing payment to the mortgagee of the amount required to obtain the discharge out of the balance due on completion. 13. INSPECTION: Buyer acknowledges having had the opportunity to inspect the property and understands that upon acceptance of this Offer there shall be a binding agreement of purchase and sale between Buyer and Seller. The Buyer acknowledges having the opportunity to Include a requirement for a property inspection report in this Agreement and agrees that except as may be specifically provided for in this Agreement, the Buyer will not be obtaining a property inspection or property inspection report regarding the property. 14. INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance policies, if any, and the proceeds thereof in trust for the parties as their interests may appear and in the event of substantial damage, Buyer may either terminate this Agreement and have all monies paid returned without interest or deduction or else take the proceeds of any insurance and compiete the purchase. No insurance shall be transferred on completion. If Seller is taking back a Charge/Mortgage, or Buyer is assuming a Charge/Mortgage, Buyer shall supply Seller with reasonable evidence of adequate insurance to protect Seller's or other mortgagee's interest on completion. 15. PLANNING ACT: This Agreement shall be effective to create an interest in the property only if Seller complies with the subdivision control provisions of the Planning Act by completion and Seller covenants to proceed diligently at his expense to obtain any necessary consent by completion. 16. DOCUMENT PREPARATION: The Transfer/Deed shall, save for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge/Mortgage to be given back by the Buyer to Seller at the expense ofthe Buyer. If requested by Buyer, Seller covenants that the Transfer/Deed to be delivered on completion shall contain the statements contemplated by Section 50(22) of the Planning Act, R.S.O.1990. 17. RESIDENCY: Buyer shall be credited towards the Purchase Price with the amount, if any, necessary for Buyer to pay to the Minister of National Revenue to satisfy Buyer's liability in respect of tax payable by Seller under the non-residency provisions of the Income Tax Act by reason of this sale. Buyer shall not claim such credit if Seller delivers on completion the prescribed certificate or a statutory declaration that Seller is not then a non-resident of Canada. 18. ADJUSTMENTS: Any rents, mortgage interest, realty taxes including local improvement rates and unmetered public or private utility charges and unmetered cost of fuel, as applicable, shall be apportioned and allowed to the day of completion, the day of completion itself to be apportioned to Buyer. 19. TIME LIMITS: Time shall in all respects be of the essence hereof provided that the time for doing or completing of any matter provided for herein may be extended or abridged by an agreement in writing signed by Seller and Buyer or by their respective lawyers who may be specifically authorized in that regard. 20. TENDER: Any tender of documents or money hereunder may be made upon Seller or Buyer or their respective lawyers on the day set for completion. Money may be tendered by bank draft or cheque certified by a Chartered Bank, Trust Company, Province of Ontario Savings Office, Credit Union or Caisse Populaire. 21. FAMILY LAW ACT: Seller warrants that spousal consent is not necessary to this transaction under the provisions of the Family Law Act, R.S.O.1990 unless Seller's spouse has executed the consent hereinafter provided. 22. UFFI: Seller represents and warrants to Buyer that during the time Seller has owned the property, Seller has not caused any building on the property to be insulated with insulation containing ureaformaldehyde, and that to the best of Seller's knowledge no building on the property contains or has ever contained insulation that contains ureaformaldehyde. This warranty shall survive and not merge on the completion of this transaction, and if the building is part of a multiple unit building, this warranty shall only apply to that part of the building which is the subject of this transaction. 23. CONSUMER REPORTS: The Buyer is hereby notified that a consumer report containing credit and/or personal information may be referred to in connection with this transaction. 24. AGREEMENT IN WRITING: If there is conflict or discrepancy between any provision added to this Agreement (including any Schedule attached hereto) and any provision in the standard pre-set portion hereof, the added provision shall supersede the standard pre-set provision to the extent of such conflict or discrepancy.This Agreement including any Schedule attached hereto, shall constitute the entire Agreement between Buyer and Seller. There is no representation, warranty, collateral agreement or condition, which affects this Agreement other than as expressed herein. For the purposes of this Agreement, Seller means vendor and Buyer means purchaser. This Agreement shall be read ith.all'Changes of gender or number required by the context INITIALS OF BUYER(S): . INITIALS OF SELLER(S):~ rn @200B,OntarioReaIEstateAssociation ("CREA"). All rights reserved. This form was dave! ed by QREA for the use and reproduction ~ of its members and licensees only.Any other use or reproduction is prohibited except wit' prior written consent of OREA. Form 100 2008 Page 3 of 5 fllogix forms'" 2008 Royal LePage Exchange Realty Co. Brokerage 25, SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms herein, SIGNED, SEALED AND DELIVERED in the presence of: """"""<2d~.<~~.cL,, (Witness)0/ ~k:'U:'f1 !/ IN WITNE,~ whereof I have hereunto set my hand and seal: ;'j ,)"' ii ,n. ? . 'iii"Y.'i""'i1i24.~~~~~.~~~;~::::"..... (S"') ..,.."..,.11........".................. . (Buyer) (Seal) /'~ .-l- DATE.(,.:!U.. ,"7 n ., - ,') ,/.:.!2.." Ol> iWiine;ssy................................. DATE... I, the Undersigned Seller, agree to the above Offer. I hereby irrevocabiy instruct my lawyer to pay directly to the Listing Brokerage the unpaid balance of the commission together with applicable Goods and Services Tax (and any other taxes as may hereafter be applicabie), from the proceeds of the sale prior to any payment to the undersigned on completion, as advised by the Listing Brokerage to my lawyer. SIG~zP~iD,~:,~~~znce Of~i:~I:~~hg.l::::vt~.~..t.~~,hand a.eaIDATE (Witne f /-\ I . liar) . . " (Seal) .,/ MUniCipality of Kincardine . (VVitif~$S'i'" ........ ......".............. ..... ............ ............ .(s.eiier)"............ ........ ............... ........ ....... ................. (Seal) DATE SPOUSAL CONSENT: The Undersigned Spouse of the Seller hereby consents to the disposition evidenced herein pursuant to the provisions of the Family Law Act, R.S,O.1990, and hereby agrees with the Buyer that he/she will execute all necessary or incidental documents to give full force and effect to the sale evidenced herein. Q.~.+,?:f{f ~ iWitni;ssj'................................................................... '(Spouse) . (Seal) DATE...... CONFIRMATION OF ACCEPTANCE, Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all . . tj, 11- o/l1t. 0 CT.JJ.. changes both typed and wntte.n was finally accepted by all parties at........ .......;7..1......... thIS........,p,:....lI......u.............:;u.day o ~< .,''/ of.............:...(../.:.{,1.<8.tf.c.Z..................., 20....0.8... . , ...... '='..~i>~J;;"'c;)~........ ., -" (Signature of Seller or Buyer). -. --.. - -.. INFORMATION ON BROKERAGE(S) Listing Brokerage...,..."...., .....RQy;;JJ..i..e.P.ag.(l, Exc!:lllng.(l B~al!y.. C!LS.r.o.ker.ag(l.,...",..."...., Tel, No.(,... ,s. j, 9,...,),....., ..396,5S.Z2....",. ...,..."...... ."..,...,..."..,... ....,....,...,.."...,...,............".., ...(acting . as. ,a. D.u al. ,Ag e.nt).,........... '.."..."...,..."..,..., ....,...".. ,.., ....'...,....,...."...,.... Co-op/Buyer Brokerage... . ....... ........... ,__...... ...... ..... ...... ..... ............., .....,,,.. ................... ...., ,_",..... ...... . Tal. No.(. .... .._.., .....) ACKNOWLEDGEMENT I acknowledge receipt of my signed copy of this accepted Agreement of I acknowledge receipt of my signed copy of this accepted Agreement of Purchase and Sale and I authorize the Agent forward a copy to my lawyer, Purchase and Sale and I authorize the Agent to forward a copy to my lawyer. ~;i~~'~'Of Ki~cardi'ne'.""." DATE.Q..~+'?:<{ %"r....................Jas~.n.Towns..................DATE........... {sr:iilerj.... ........................... ............,........ ......... ..... DATE.................. .... (Buyer).........,....... .... ...........",.............. ............. .... DATE. .................... Address for Service.............................. .............,.....,. ,_.... .._.. ............... ,...,...,....,.......,............,.."..."...,..."...TeI.No,(.".."..")"..,......,,..,...,..,... Seller's Lawyer... ....................,..,.... ......... n...............,............".. .... n.... Address....... ...........................,.. '.,.......................... ........,..,.... ... ........ (...,.."...).........."....................."",.....(,..,.......)......,...,...,..,..........,......,. Tel.No. FAX No. Address for Service.., '. '.. .... .........................".. ........ .... .... ....... ..,...".."...,..,...,...........,........,...,...,.TeI.No.(."...,.,,,) ,..,..."...,....." Buyer's Lawyer.... .... ......" '. _....................... .... .... ._...................... Address.....,........ "..... .... ................................. ...,............ ..... ..... (..... ......).. .... .Tei'.No:"...." ...... ,.,.. .... ... (.......... .).. ....... FAX' No:" FOR OFfiCE USE ONLY COMMISSION TRUST AGREEMENT To: Co-operating Brokerage shown on the foregoing Agreement of Purchase and Sale: In consideration for the Co-operating Brokerage procuring the foregoing Agreement of Purchase and Sale, I hereby declare that aU moneys received or receivable by me in connection with the Transaction as contemplated in lhe MLOO Rules and Regulations of my Real Estate Board shall be receivable and held in trust. This agreement shall constitute a Commission Trust Agreement as defined in the MlS@Rulesand shall be SUbject to and govemed by the MLS@ Rules pertaining to Commission Trust. DATED as of the date and time of the acceptance of the foregoing Agreement of Purchase and Sale. Acknowledged by; (A~ih;ri~~d.i~..b.ind.tiie..Listi~g.B~~.~.g~i. (A~ih~riz~d 'to' bi~d 'th~' co:op~,~.ting . B;.ok'~'~g~) m @2008, Ontario Real Estate Association ("OREA"). All rights reserved. This form was developed by OREA for the use and reproduction ~ of its members and licensees only. Any other use or reproduction is prohibited except with prior written consent of OREA. Form 100 2008 Page 4 of 5 fil09tx forms" 2008 Royal LeP/Jge Exchange Realty Co. Brokerage t)REA Ontario ReaIEstafe P.l;sociation Schedule A Agreement of Purchase and Sale Form100 for use in the Province of Ontario This Schedule is attached to and forms part of the Agreement of Purchase and Sale between: BUyER,............................................................ ....... ~ll$.on. low-n$..................................... ..._....................... ...., and SELLER,............................................................. Munlci~llllty.Qf.Kio~a(dirJ.e...... ........................................................ for the purchase and sale of ............ ........ .............J.Qts .3...4..QJJ.d..o..P.Jao.Z6, .Kim;ar.dlo.e.. 'Oolmlo................................. ........................................................ dated the .................28Ih................. day of ...........Qctob.er..........., 20...Q8... . Buyer agrees to pay the balance as follows: The Buyer agrees to pay the balance of the purchase price, subject to adjustments, by bank draft or certified cheque, to the Seller on the completion of this transaction. This Offer is conditional upon the approval of the terms hereof by the Municipal Council representing the Municipality of Kincardine. Unless the Seller gives notice in writing delivered to the Buyer not later than 4:00 p.m. on the 14th day of November, 2008, that this condition is fulfilled, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without deduction. This condition is included for the benefit of the Seller and may be waived at the Seller's sole option by notice in writing to the Buyer within the time period stated herein. The Seller agrees to supply any survey of the property in his possession or under his control to the Buyer, as soon as possible and prior to the last day allowed for examining title. The Seller represents and warrants to the best of the Seller's knowledge and belief that during the period of his ownership of the property, that: all environmental laws and regulations have been complied with, no hazardous conditions or substances exist on the land, no limitations or restrictions affecting the continued use of the property exist, other than those specifically provided for herein, no pending litigation respecting Environmental matters; no outstanding Ministry of Environment Orders, investigations, charges or prosecutions regarding Environmental matters exist, there has been no prior use as a waste disposal site, and all applicable licenses are in force. The Seller agrees to provide to the Buyer upon request, all documents, records, and reports relating to environmental matters that are in the possession of the Seller. The Seller further authorizes the appropriate Ministry, to release to the Buyer, the Buyer's Agent or Solicitor, any and all information that may be on record in the Ministry office with respect to the said property. The Parties agree that this representation and warranty shall form an integral part of this Agreement and survive the completion of this transaction, but apply only to circumstances existing at completion of this transaction. "BUSINESS DATE" means any day other than Saturday or a Sunday or a Statutory Holiday in the Province of Ontario. "CLOSiNG DATE" means 1WELVE (12) business days immediately following removal of the aforementioned condition pertaining to Municipal Council Approval. The Buyer and Seller hereby acknowledge that the Province of Ontario has implemented current value assessment and properties may be re-assessed on an annual basis. The Buyer and Seller agree that no claim will be made against the Buyer or Seller, or any Brokerage or Salesperson, for any changes in property tax as a result of a re-assessment of the property. The parties to this Agreement acknowledge that no information provided by the real estate Broker(s) so named in the Agreement is to be construed as legal, tax or environmental advice. This form must be initialed by all parties to the Agreement of PurchaJe and Sale. INITIALS OF BUYER(S): cD INITIALS OF SELLER(S):~ rn @ 2008, Ontario Real Estate Association ('OREA"). AI! rights reserved. This fann was develope" py OREA for the use and reproduction ~ of its members and licensees only. Any other use or reproduction is prohibited exceptwllh priolwritten consent of OREA. Form 100 2008 Page 5 of 5 filoSix formslM 2008 Royal LePage Exchanse Realty Co. Brokerage SCHEDULE "B" Schedule "B" to the Agreement of Purchase and Sale between Jason Towns, as Buyer, and the Municipality of Kincardine, as Seller, in connection with the property known as Lots 3, 4 and 5, Plan 26, in the Municipality of Kincardine (formerly Kincardine Township), County of Bruce. -----.- " \ 491i6 V~G€.. OF "'- FRlfJ c. /""-... ~ 8S,f'l/}S C:;rn,rnu.'l!/v.F'a.r:k: / ~l , /~ ~~ l:.I/ ,,~ ' 0'" V ~' i .... " " ~" ~ ""- -1 IJ 400. I / , :1 J~-'.. MEASUREMENTS ON THIS SKETCH HAVE BEEN ROUNDED DOWN. ACTUAL MEASUREMENTS ARE AS SHOWN ON THE FRONT PAGE OF THIS OFFER. P{' JX) il ? "j5~ tmA- Onlclrio RoolElllltB A"oc:iotion Confirmation of Co-operation and Representation Form 320 for use in the Province of Ontario SELLER: ... ..... ........J.asDn..TDWJ:1S ......... ....Munic.ipaU.\y..of.Kincardine. BUyER:.... For the transaction on the property known as . .~Qt$. ~..4.~nq .RI.P.ti?t1.4P...M\.!Dj!=;jp~.ljJy.9f.Kjf.lG.~r.QJJJ.? .(fQxm.~~!y. ,Kirv;:.i?f.9,i.n? Twp...),. .l?f,V~.~. GQVfl.W, For the purposes of this Confirmation of Co-operation and Representation, a "Seller" includes a vendor, a landlord, or a prospective, seller, vendor or landlord and a "Buyer" includes a purchaser, a tenant, or a prospective, buyer; purchaser or tenant and a "sale" includes a lease. The following information Is confirmed by the undersigned salesperson/broker representatives oltha Brokerage(s). If a Co-operating Brokerage Is Involved in the transaction, the brokerages agree to co-operate, In consideration of, and on the terms and conditions as set out below. DECl.ARATION OF INSURANCE: The undersigned salesperson/broker representative(s) of the Brokerage(s) hereby declare that he/she is insured as required by the Real Estate and Business Brokers Act (REBBA) and Regulations. MJltiple Representation. Listing Brokerage represents both the Seller and Buyer. MUl. TIPLE REPRESENT A TlON: The Listing Brokerage has entered into a Buyer Representation Agreement with the Buyer and represents the interests of tl18 Seller and the Buyer. with their consent. for this transaction. The Listing BrOkerage must be impartial and equally protect the interests of the Seller and the Buyer in this transaction. The Listing Brokerage has a duty of full disclosure to both the Selle r and the Buyer,including a requirement to disclose at! fa:tual infonnation about the property known to the Listing Brokerage. However, the Listing Brokerage shall not disclose: . That the Seller mayor will accept less than the listed price, unless otherwise instructed in writing by the Seller; . That the Buyer mayor will pay more than the offered price, unless otherwise instructed in writing by the Buyer; . The motivation of or personal information about the Seller or Buyer, unless otherwise instructed in writing by the party to which the information applies, or unless failure to disclose would constitute fraudulent, unlawful or unethical practice; . The price the Buyer should offer or the price the Seller should accept; . And; the Listing Brokerage shall not disclose to the Buyer the terms of any other offer However, It is understood that factual market information about comparable properties and information known to the Listing Brokerage concerning potential uses for the property will be disclosed to both Seller and Buyer to assist them to come to their own conclusions. Additional comments andror disclosures by Listing Brokerage: (e.g. The Listing Brokerage has also entered into a Customer Service Agreement with the Buyer.} SIGNED BY THE BROKER/SALESPERSON REPRESENTATIVE(S} OF THE BROKERAGE(S} (Where applicable) ....... ...Ro:v.aJ. .LePage. Exchange. Really.. C.o...B.rokerage... (Name of Lrsting Brokerage) .969.Oueen.St...P...o..Bnx.3.0a..Kincar.dine,..ON.N2Z.2V8 T~. I: 1~..:;;J~,3.96.,. :;;22..... Fax: ............51.9.,3.96.,23.37 , .... .'a&dL. .. ~...p-~~ DateC)d.2/t'/ag (A orized to ind the rztf;;S~~k;;;ge) ...................................JAC.K.KJRKPAIRI.CK.................................. (Print Name of Broker/Salesperson Representative of the Brokerage) 'rName'i:ii Co~operaiirigiBu)ier. BrokerageY Tel:. ................ Fax: ....,...........................................................Date:... (Authorized to bind the Co-operating/Buyer Brokerage) .. '{pririt' Nanle' of' Brokeris aie~'person' Repres€;ritati~e 'cJi the' 'Elroke;rage i' . CONSENT FOR MUl.TIPLE REPRESENTATION (To be completed only "the Brokerage represents more than one client for the transact/on.) I ~ ~ The Seller/Buyer consent with their initials to their Brokerage representing more than one client for this transaction. SELLER'S INITIALS BUYER'S INITIALS ACKNOWLEDGEf'ENT /. --;::::! have received, read, an~ understand the above +rmation.' /1 _ (i ~(s;~re~~j~................. Date.0.~...Z.<C.{c3 ~~tii'f~:S-uYe;iV{)4!.:7:l. .......... Date / i (S[g'nature'clSeiler)'" ................. Date:. ............................. '\(Signati.ire'oi'Buyerj" ............................. Date:.. rn @2008. Ontario Real Estate Association ("OREN). All rights reserved. This form was developed by OREA for the use and reproduction ~ of its members and licensees only.Any other use or reproduction is prohibited except with prior written consent of aREA. Form 320 2008 Page 1 of 1 {floSfx {arms'" 200B Royal LePase Exchange Realty Co. Brokerage /\,1 ...C,,/:'.:: /'\ ---. "1./ 1.9 /-{))r:< '-/