HomeMy WebLinkAbout08 180 Mahood Johnston Dr Property Purchase & Sale By-Law
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THE CORPORATION OF THE MUNICIPALITY OF KlNCARDINE
BY-LAW
NO. 2008 - 180
BEING A BY-LAW TO AUTHORIZE THE PURCHASE & SALE OF PROPERTY
(Parts 1 & 3 of Plan 3R-8425, Municipality of Kincardine [geographic Town of
Kincardine] County of Bruce)
WHEREAS Section 270 (1) of the Municipal Act, 2001, S.O. 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 8 (1) and 9 of the said Municipal Act, 2001 provide that the
powers of a municipality under this Act 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 Council of The Corporation of the Municipality of Kincardine
deems it advisable to dispose of its property described as Part 3 of Plan 3R-8425
("Parcel 1") to 536321 Ontario Limited (the "Purchaser") in exchange for the
acquisition by the Municipality of the Purchaser's lands described as Part 1 of
Plan 3R-8425 ("Parcel 2"), on the terms and conditions of the draft agreement
attached hereto and forming Schedule "A" to this By-law;
AND WHEREAS the disposition of Parcel 1 by the Municipality is in accordance
with the policies adopted and maintained by it with respect to the sale and
disposition of land;
NOW THEREFORE the Council of The Corporation of the Municipality of
Kincardine ENACTS as follows:
1. That the Municipality disposes of Parcel 1 to the Purchaser in exchange for
the acquisition from the Purchaser of Parcel 2 on the terms and conditions
of the draft agreement attached hereto as Schedule "A".
2. That the Mayor and CAO be hereby authorized and directed to execute, on
behalf of The Corporation of the Municipality of Kincardine, the said draft
agreement and all other such other deeds, transfers and other documents
which they may deem advisable to transfer and convey Parcel 1 to the
Purchaser and to complete the acquisition of Parcel 2 from the Purchaser.
3. That Schedule "A" attached hereto forms part of the By-law.
4. That this By-law shall come into full force and effect upon its final passage.
5.
That this By-law be cited as the "Mahood Johnston Drive Property
Purchase & Sale By-law".
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Page 2
Mahood Johnston Drive Property Purchase and Sale By-law
By-law No. 2008 - 180
READ a FIRST, and SECOND time this 5th day of November, 2008
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Clerk
READ a THIRD time and FINALLY PASSED this 5th day of November, 2008
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Thi~b~_hedule ~ " to By-Law
No. IS;;O passed the S-tl> day
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THIS AGREEMENT made the5+I'day of November, 2008.
BETWEEN:
536321 ONTARIO LIMITED
(hereinafter called the "Purchaser)
OF THE FIRST PART
-and-
THE CORPORATION OF THE
MUNICIPALITY OF KINCARDINE
(hereinafter called the "Municipality")
OF THE SECOND PART
THIS AGREEMENT WITNESSES THAT, in consideration 0 the mutual covenants
and agreements hereinafter contained, the parties hereto agree as follows:
I. Subject to the terms and conditions ofthis agreement, the Purchaser agrees to
purchase from the Municipality, and the Municipality agrees to sell to the
Purchaser, free from all registered restrictions, charges, liens, and encumbrances,
the real property described as Part 3 of Plan 3R-8425 (the "Purchased Lands").
2. The consideration for the transfer and conveyance of the Purchased Lands shall be
the transfer and conveyance by the Corporation to the Municipality, free from all
registered restrictions, charges, liens, and encumbrances, of the lands described as
Part 1 of Plan 3R-8425 (the "Exchanged Lands").
3. The parties agree that the value of both the Purchased Lands and the Exchanged
Lands is $3,000.00.
4. This Agreement is conditional until closing upon the Purchased Lands being re-
zoned as Industrial, failing which this Agreement shall become null and void.
5. The Purchaser further covenants and agrees that, upon the registration of the
Transfer/Deed for the Purchased Lands, the Purchased Lands shall be
consolidated with the land already owned by the Purchaser being described as
Part 2 of Plan 3R-8425 (the "Existing Lands") so that no part of the consolidated
parcel may be severed and conveyed without a consent pursuant to the provisions
of the Plarming Act.
6. The parties covenant and agree that the Municipality shall install a fire hydrant
near the Purchased Lands and the costs of the fire hydrant shall be borne equally
by both parties. This mutual covenant shall survive the closing of this transaction.
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7. This Agreement shall be completed by no later then November 5, 2008 at which
time vacant possession of each real property shall be given to the respective
transferee.
8. The Transfer/Deed for the Purchased Lands shall, save for the Land Transfer Tax
Affidavit, be prepared in registerable form at the expense of the Municipality, and
the Transfer/Deed for the Exchanged Lands shall, save for the Land Transfer Tax
Affidavit, be prepared in registerable form at the expense of the Municipality. The
parties covenant and agree that each Transfer/Deed to be delivered on completion
shall contain the statements contemplated by Section 50 (22) of the Planning Act,
R.S.O. 1990.
9. The parties represent and warrant that they are not non-residents of Canada.
10. Time shall in all respects be 0 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 the Municipality and Purchaser or by their
respective lawyers who may be specifically authorized in that regard.
11. Any tender of documents hereunder may be made upon either party or their
respective lawyers on the day set for completion.
12. The heirs, executors, administrators, successors and assigns of the undersigned
are bound by the terms herein.
IN WITNESS WHEREOF the parties have hereto duly executed this Agreement on the
date first set out above.
SIGNED, SEALED and DELIEVERED
in the presence of
) 536321 Ontario Limited
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) per: ~/""'" III./h-<~~
) PresIdent
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) The Corporation of the Municipality of
) Kincardine
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~ Mayor - L raemer
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