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HomeMy WebLinkAbout09 084 3 Stoney Island Crescent Property Sale By-Law e e e e THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE KBT BY-LAW NO. 2009 - 084 BEING A BY-LAW TO AUTHORIZE THE SALE OF PROPERTY TO HAMED JAMSHIDI (3 Stoney Island Crescent, Municipality of Kincardine, [geographic Township 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 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, on May 20, 2009 has declared surplus to its needs that property described as Block 11, Plan 3M157, Municipality of Kincardine (geographic Township of Kincardine), County of Bruce, known municipally as 3 Stoney Island Crescent and Roll No. 410821000428334; AND WHEREAS an appraisal was completed by the Municipality of Kincardine on December 15, 2008; AND WHEREAS the Council of the Municipality of Kincardine deems it advisable to dispose of the aforementioned property; AND WHEREAS Hamed Jamshidi has submitted an offer to purchase the aforementioned property in the amount of $3,500.00; NOW THEREFORE the Council of The Corporation of the Municipality of Kincardine ENACTS as follows: 1. That the Mayor and CAO 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, Block 11, Plan 3M 157, Municipality of Kincardine (geographic Township of Kincardine), County of Bruce, known municipally as 3 Stoney Island Crescent, and to affix the corporate seal of the Municipality of Kincardine. 2. The sale price for the said property be Three Thousand and Five Hundred ($3,500.00). .../2 e e e e Page 2 3 Stoney Island Crescent Property Sale By-law By-law No. 2009 - 084 3. That this transaction is subject to the conditions set out in the Agreement of Purchase and Sale attached hereto as Schedule 'A' and forming part of the By-Law and that net proceeds be split 50/50 and credited to Capital Reserve Fund and the Economic Reserve Fund. 4. This by-law shall come into full force and effect upon its final passage. 5. This by-law may be cited as the "3 Stoney Island Crescent Property Sale By-law". READ a FIRST, and SECOND time this 3'd day of June, 2009 J(j':!~ ~.~cU(i Clerk READ a THIRD time and FINALLY PASSED this 3'd day of June, 2009. of(j 7L>=- ayor ~ 'i~OQ Clerk ~:.... (IlEA ~, .....J..... .... . ' _.~~ -. .....dA'\\-. ~ .... ..... ..-~'........~ r~'t Airfl"'~"''1f'_ft_ ""_G""~.._.J.L_"_. ,-.._ lWYD, "..,,,. q...,..~~~....._.,... -"'-',..~a-.~....... .MI1 ..~'" " .... ao .!!P ...... .....llll~__ &nUll!, ......L f'lUlllllll! 'I> ~t,H:'II.l!JiIf"'~~O!NlIl:..~...4-,....lI'<<"'",,,~:, ...... J! ~'-r"~ "..Atnl! . ..-'"____r~...O!~!I,,,.~!lt~ "., ""~..a~Jlf.'" .....R7f.l!"i...._""........ww....4.IIl\If~ tll,.!l1i!f!...__...millu,_" ... ~""i~~. f.'!!In.~F.I!'...~.!t1e..m~h rr.~.~<$,,!,~~~T~l'iJ'ltll'~~.. ">;;,.--. " .......... ~ ....~~:l':'.,..,.,~ ~__~~' ~ l'U_u,,_, ~.~e .. ...........~l ...-"~;ne lW'OlIl1\ e,.~w::::..,~_ .. ':':'.~. ". . '. .~.~i'f:.~~.;(!€).~ ' . . . 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'.. .1'"" ....M..le~. ..'_""" (.Jilt. .. .",. _, m~~p """'?.... ..... ,{ T ,..-Cf'~""" -..:iIC::.t:O--.-:"'~~~.r~~'Diu ~............._,...._..".,.-....., T__ _...., ..........~,..._........,....-"!_ "III; . , . ~.....__~i'..:::;~.&.=:.,"~..,~.. .,,,, .,_. ... -, ~....:''''~.~~'7f'' '~l~f." "i~ii.:l'd'h~~~'.;"" . ~,,: --::::-...::....~... '--.. ."':A::. ::.':'.ID~ ~:::~~'"- ~. ....... ....--x:~'h_i, ~ ntp~""",*...ca.._..._ IJ~'" . ..'~..._.. DlftUU-. ~t$ NIJ'l:f~ ---.,........--c__~.. _ ~ \.~'*t~......~-.-_~I. r V"'il'>>...lY\...""'_' .~~.. ""~~:.'<:t!lr..tg{. A~~Y.V.,~~ - '''''''''''---'- " aA nAY Ill"" f'l.~""~, "~Ql9ayti't" m ,.t~ ",:.~.A,~el:_~t"eJttl.. ,"tII'ft~ 'INI...........__-tw:.._"..........~ .........;l~'Mh't'o'w~_..M....~."" .,til. l~-..:.....'GIl'WIi...lII'-~~A JIQY.l-l~JlUf('4*aL'/7'''~...... ~ :'l...'." ~O"tariO RealE51ale Amx:iotion d~1J~ I Su'.;n~=rM/)~ ThIS Agreeme of P Chas~t~~ti~.......J~!/:1............... day of ......................M\'y......... ..... .... 20...Q!'l.. BUYER,... ....... ..~.~..!!..~.;Jt .Juli.le:~m~r.\m.~i.~4;;.;;i.................... ......................., agrees purchase from ::~~E:~~:....Cr;::..ii:.(FUi,i~~~~~~!lrai~e~lm~r.9.in~.......................................... ....... the following Address............~.~!Rn~y..1.~!~nc;f..Gr~\l.~.M~!1i.c;:.iP.i1!i.ty..Qf..I9D.C;i1r9imL........ fronting on the. ..........$.9.1,I!h........... side of.......$\9n~y..!~Ii1f)~.(;r.~.~~~nL... in the ..........................MI,IDj~iP.<l.l!!Y..9.t~i.IJ.C;i1r!:Jjf)~,.(;p .. and having a frontage of ............9.9...??.f.~~L.......... more or less by a depth of .......... ....~...@.f.~.t... ........ more or less and legally described as ..~!'!D.~M!.9.?..J!!9.C;.~.)J,.ln.t!)~.M~!1i.c;:.ip.i1!i.ty..Qf..I~}nC;i1r9!n!' .prm!'!r!y..T.~!i!1ip..9.t1:9.nc;:.'!!.c;fme=), ......................... ......... .......... .......... .........G.Q!-!!1!Y..9!..I?r!-!c;:.~............................. ................. ................ (the "property"), (legal description of land including easements not described elsewh ) :3 57(!)~, : 0 ollars (CDN$).. .... .......::~...~.~.Q...''!~...........,... .............................................................Dollars PURCHASE PRICE: -r /I~EE ....., .......................................................~.!hRI,I.~i1!1(!.~~.tWm:!r.E19. DEPOSIT: Buyer submits .................................v.i\l:1.in.flll<\.c;f.aY!l.pf .!<!<l'!p.t9n!<~.Qf.!his.Am~l'!m~m:.............................. (HerewilhNpon AcceptanceJas otherwis aescribed in this Agreement) .......................... ......... ..Tw.:? \I:1.9.I,I!i?!nc;f. .~~.~.I,IDgr.~.. ............... ................. Dollars (CDN$)..... .........?,.9QQ,Qq........,.,. by negotiabie cheque payable to.............B.Qy.i1!.!,e=P..'!.g.~.!;~!1 ..g!!!.&l.?I!Y..9.p,..I?rp~!!!r~g~.............. "Deposit Hoider" to be held in trust pending completion or other termination of this A eement and to be credited toward the Purchase Price on completion. For the purposes of this Agreement, "Upon Acceptance' s II mean that the Buyer is required to deliver the deposit to the Deposit Holder within 24 hours of the acceptance of this A eement. The parties to this Agreement hereby acknowledge that. uniess otherwise provided for in this Agreement, the De sit Holder shall place the deposit in trust in the DepOSIT Holder s non-interest bearing Real Estate Trust Account and no i rest shall be earned, received or paid on the deposit. Buyer agrees to pay the balance as more p. rticularly set out in Schedule A attached. SCHEDULE(S)A .................................................. .................... ~~att~~to form(s) part ofthis Agreement. 1. IRREVOCABILITY:This Offer shall be irr ocable by .......~.~.......... until .....A;qQ.P.M.... on (J I. (SeJler/Buyer) ~;ei~h.~.li.b~J~;IJ:~~ho: d~p~"t ~;;~ii.b~~:~;;;~d.i~.ih~..fiu~~;.;~9~ii :i~e~uf~~~~e~~e, if not accepted, this 2. COMPLETION DATE: This Agreem t shail be completed by no later than 6:00 p.m. eI'I4Ae ............i1~.p.~r......".:-tler- -ef-.....$.C;.i).E19!!!~::A::.?!$.l.C;.i)~!:J.... ....... . Upon completion, vacant possession of the property shall be given to the Buyer uniess otherwise provided r in this Agreement. 3. NOTICES: Seller hereby appol the Listing Brokerage as Agent for the purpose of giving and receiving notices pursuant to this Agreement. Only if t Co-operating Brokerage represents the interests of the Buyer in this transaction, the Buyer her y appoints the Co-operating Brokerage as Agent for the purpose of giving and receiving notices pursuant to this Agr ment. Any notice reiating hereto or provided for herein shail be in writing. This offer, any counter offer, notice of acc tance thereof. or any notice shall be deemed given and received. when hand delivered to the address for service pr ided in the Acknowledgement below, or where a facslmiie number is provided herein. when transmitted electronically 0 that facsimile number. . FAX No. ....!i.HblSJ;E?3 .... (For delivery of notices to Seller) FAX No. .....:i.1.a~.3.af;l.~~3.37... (For delivery of notices to Buyer) " m . ''''O''"'''''~.''Au'' '"COREA, A':~.J,:~.:~=::t'..."B2~..."'m~~~:~~..OF SELLER(S):~ ~ anly. Ally ather use or reprOdllelion ptllhlbifed erceptWilh prlarwritfell CO"""1 (If OREA. 00 nOf Ihrwhen printing or reproducing lfIe stllnderd pl'e-lIe! portion, Fonn 100 2009 Page 1 at 5 ROYAL LEPA GE EXCHANGE REALTY CO. BROKfRAGE .It;. 4. CHATTELS INCLUDED~.... ..... ......... ... .... .... ..~............................NIL............................ ............... ...................... ......................................................................................................................................................................... .................................................................................................................................... .................................. 5. FIXTURES EXCLUDED:. ....... ... .............. ....... ....... .......................NIL... ................... ... ................. ... .................. ................................................................................................................................. ..................................... ........................................................................................................................... ........................................... ..................................................................................................................... ................................................. ........................................................................................................................ .............................................. 6. RENTAL ITEMS:The following equipment is rented and not induded in the Pure se Price. The Buyer agrees to assume the rentai contract(s). if assumable: ........................................................NJ ......................................................... ,...................................................................................................................................................................... 7. GST: If this transaction is subject to Goods and Services Tax (G.S.T.). the such tax shall be ..........in.iO.ddjijpD..to.......... Qncluded inlln addition to) the Purchase Price. If this transaction is not subject to G.S.T.. Seller rees 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 ......... .!:i............ day'*-.....P.r!Qr..tg.!;JQl!!!1g......~........ (Requisition Date) to examine the tiDe to the Property at Buyer's own xpense and until the earlier of: (i) thirty days from the iater of the Requisition Date or the date on which the condition in this Agreement are fulfilled or otherwise waived or; (ii) five days prior to completion. to satisfy Buyer that there no outstanding work orders or deficiency notices affecting the Property. and that its present use (........................ ........)J.acar.ltland.ZOned.R1........ ..........................) may be lawfully continued and that the principal building may b insured against risk of fire. Seller hereby consents to the municipality or other governmental agencies releasing to B r details of all outstanding work orders and deficiency notices affecting the property. and Seller agrees to execute an deliver such further authorizations in this regard as Buyer may reasonabiy require. 9. FUTURE USE: Seller and Buyer agree that there is no rep sentation or warranty of any kind that the future intended use of the property by Buyer is or will be lawful except as ay be specifically provided for in this Agreement. 10. TITLE: Provided that the title to the property is good nd free from all registered restrictions. charges, liens, and encumbrances except as otherwise specifically provided' this Agreement and save and except for (a) any registered restrictions or covenants that run with the land providi that such are complied with; (b) any registered municipal agreements and registered agreements with publidy r gulated utilities providing such have been complied with. or security has been posted to ensure compliance and c pletion. as evidenced by a letter from the relevant municipality or regulated utility; (c) any minor easements for the s pply of domestic utility or telephone services to the property or adjacent properties; and (d) any easements for drain ge. storm or sanitary sewers. public utility lines. telephone lines, cable television lines or other services which do not aterially affect the use of the property. If within the specified times referred to in paragraph 8 any valid objection to tit or to any outstanding work order or deficiency notice, or to the fact the said present use may not lawfully be conti ed. or that the principal building may not be insured against risk of fire is made in writing to Seller and which Seller i nable or unwilling to remove. remedy or satisfy or obtain insurance save and except against risk of fire in favour of t Buyer and any mortgagee. (with all related costs at the expense of the Seller), and which Buyer will not waive. thi Agreement notwithstanding any intermediate acts or negotiations in respect of such objections. shall be at an end d all monies paid shall be returned without interest or deduction and Seller, Listing Brokerage and Co-operating Bro rage shall not be liable for any costs or damages. Save as to any valid objection so made by such day and except fo any objection going to the root of the title. Buyer shall be conclusively deemed to have accepted Seller's title to the roperty. 11. CLOSING ARRANGEMENTS: Where eac the Seller and Buyer retain a lawyer to complete the Agreement of Purchase and Sale of the Property. and wh re the transaction will be completed by electronic registration pursuant to Part ill of the Land Registration Reform Act R.S.O. 1990. Chapter L4 and the Electronic Registration Act. 5.0. 1991. Chapter 44. and any amendments thereto. e Seller and Buyer acknowledge and agree that the exchange of closing funds, non-registrable documents and othe items (the 'Requis~e Deliveries') and the release thereof to the Seller and Buyer will (a) not occur at the same time a the registration of the transfer/deed (and any other documents intended to be registered in connection with the com pi ion ofthis transaction) and (b) be subject to conditions whereby the lawyer(s) receiving any of the Requisite Deliveries w I be required to hold same in trust and not release same except in accordance with the terms of a document registration greement.between the said lawyers. The Seller and Buyer Irrevocably instruct the said lawyers to be bound by the doc ment registration agreement which is recommended from time to time by the Law Society of Upper Canada. Unless ot erwise agreed to by the lawyers. such exchange of the Requisite Deliveries will occur in the applicable Land Titles Offi or such other location agreeable to both lawyers. 12. DOCUMENTS AND DISCHARGE: uyer shall not call for the prOduction of any title deed. abstract. surveyor other evidence of title to the property except suc 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 possibie 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 " m . ,,090,.ri,R..,.""oA..~.."roREA'I~:::~ ~~f~m~..~::~~~,...oo1..,,"~~::~~_:F SELLER(S): C) ~. gnlv.Any glhefUllBgrrBptOduClionlaprolllbiledHc.P&:l'rilhprlorwrittencol1SBntofOREA.Do noc.n.,whenprlntlngor~prodllCing!tlBmIldMl~8tllOl1lon. Form 100 2009 Page 2 of5 fifagix forfTl$W, 2009 ROYAL LEPAGE EXCHANGE REALTY CO. BROKERA Gf .':".. (Canada), Chartered Bank, Trust Company, Cred~ Union, Caisse Populaire or insurance Company and which is not to be assumed by Buyer on completion, is not available in registrable fonn on completion, Buyer agrees accept Seller's lawyer's personal undertaking to obtain, out of the closing funds, a discharge in registrable form and to er same, or cause same to be registered, on titie within a reasonable period of time after completion, provided that 0 r before completion Seller shail provide to Buyer a mortgage statement prepared by the mortgagee setting out the lance required to obtain the discharge, and, where a real-time electronic cleared funds transfer system is not being us ,a direction executed by Seiler directing payment to the mortgagee of the amount required to obtain the discharge out e balance due on completion. 13. INSPECTION: Buyer acknowledges having had the opportunity to inspect the p erty and understands that upon acceptance of this Offer there shall be a binding agreement of pUrchase and sale be een Buyer and Seller. The Buyer acknowledges having the opportunity to include a requirement for a roperty inspection report in this Agreement and agrees that except as may be specifically provide for in this Agreement, the Buyer will not be obtaining a property inspection or property inspectlo report regarding the property. 14. INSURANCE:AII buildings on the property and all other things being purc sed shall be and remain until completion at the risk of Seller. Pending completion, Seller shall hold all insurance poli es, if any, and the proceeds thereof In trust for the parties as their interests may appear and in the event of substa ial damage, Buyer may either terminate this Agreement and have all monies paid retumed without interest or deduc on or else take the proceeds of any insurance and complete the purchase. No insurance shall be transferred on completion. If Seller is taking back a Charge/Mortgage, or Buyer is assuming a ChargeIMortgage, Buyer. hall supply Seller with reasonable evidence of adequate insurance to protect Seller's or other mortgagee's intere on completion. 15. PLANNING ACT: This Agreement shall be effective to create an' terest in the property only if Seller complies with the subdivision control provisions of the Planning Act by completion a Seller covenants to proceed diligently at his expense to obtain any necessary consent by completion. 16. DOCUMENT PREPARATION: The Transfer/Deed shall, ve for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge ortgage to be given back by the Buyer to Seller at the expense of the Buyer. If requested by Buyer, Seller covena s that the Transfer/Deed to be delivered on completion shall. contain the statements contemplated by Section 50(22) the Planning Act, R.S.O.1990. 17. RESiDENCY: Buyer shall be credited towards the Pur ase Price with the amount, if any, necessary for Buyer to pay to the Minister of National Revenue to satisfy Buyer's II lily in respect of tax payable by Seller under the non-residency provisions of the Income Tax Act by reason of this s . Buyer shall not claim such credit if Seller delivers on completion the prescribed certificate or a statutory declaration at Seller is not then a non-resident of Canada. 18. ADJUSTMENTS: Any rents, mortgage interest, aily taxes including locai improvement rates and unmetered public or private utility charges and unmetered cost of el, as applicable, shall be apportioned and allowed to the day of completion, the day of completion itself to be portioned to Buyer. 19. PROPERTY ASSESSMENT:The Buyer a Seller hereby acknowledge that the Province of Ontario has impiemented current value assessment and properties m be re-assessed on an annual basis. The Buyer and Seller agree that no claim will be made against the Buyer or S er, or any Brokerage or Salesperson, for any changes in property tax as a resuit of a re-assessment of the prope 20. TIME LIMITS: Time shail in all respe be of the essence hereof provided that the time for doing or completing of any matter provided for herein may be e ded or abridged by an agreement in writing signed by Seller and Buyer or by their respective iawyers who may b pecifically authorized in that regard. 21. TENDER: Any tender of documen or money hereunder may be made upon Seller or Buyer or their respective lawyers on the day set for completion. M ey may be tendered by bank draft or cheque certified by a Chartered Bank, Trust Company, Province of Ontario Sings Office, Credit Union or Caisse Populaire. 22. FAMILY LAW ACT: Seiler ts that spousal consent is not necessary to this transaction under the provisions of the Family Law Act, R.S.O.1990 less Seller's spouse has executed the consent hereinafter provided. 23. UFFI: Seller represents an arrants to Buyer that during the time Seller has owned the property, Seller has not caused any building on the property 0 be insulated with insulation containing ureaformaldehyde, and that to the best of Seller's knowledge no building on e property contains or has ever contained insulation that contains ureaformaldehyde. This warranty shall survive an not merge on the completion of this transaction, and If the building is part of a multiple unit building, this warranly s I only apply to that part of the building which is the subject of this transaction. 24. CONSUMER REPO S: The Buyer is hereby notified that a consumer report containing credit and/or personal informati n may be referred to In connection with this transaction. 25. AGREEMENT IN RITING: If there is conflict or discrepancy between any proviSion added to this Agreement (including any Schedule attach hereto) and any provision in the standard pre-set portion hereof, the added proviSion shall supersede the standard pre-se revision to the extent of such conflict or discrepancy. This Agreement including any Schedule attached hereto, shail consti e the entire Agreement between Buyer and Seller. There is no representation, warranty, collateral agreement or condition, whic affects this Agreement other than as expressed herein. For the purposes of this Agreement, Seller means vendor and Buye means purchaser. This Agreement shall be. read with all changes of gender or number required by the context. 26. nME AND D TE: Any reference to a time and date in this Agreement shail mean the time and date where the property is located. ., INITIALS OF BUYER(S~ INiTIALS OF SELLER(S): C) m C 2009. OnlariD F1'11 EslalllAsaoc:iIlllan l"OREA"). AlIIg/lt$ _mid. This fo/m wa dllVlloped lit OREA rllr ltl, use.~ tep'OCIuctIcn offts membllrs and dcensees ~- onlv.Arr101herUS'0f",producllOnlaprohl~811Cllplwithpl'iorwrttlenCOM'1ll0'OREA.Oonot'lMrwhftnprfntlngor",prodllciIlQlh"tandardpl'&-ilefpottion, Form 100 2009 Page 3 of 5 filo'1;X forms"" 2009 ROYAL LEPAGE EXCHANGE REALTY CO. BROKERAGE .C'.. 27. 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: IN 'MTNESS YA1ereof I have he unto set my hand and seal: X ~i'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''' ~"""'''''''''''~;;d'J'''' ..hidi........................ ! DATE.../!I/f....tf....!.;lcp ................................................................................ .......................................... .................................... . DATE................................... !\Mn=l _ _ I, the Undersigned Seller, agree to the above Offer. I hereby irrev cably instruct my lawyer to pay directly to the Listing Brokerage the unpaid balance of the commission together with apR cable Goods and Services Tax (and any other taxes as may hereafter be applicable), from the proceeds of the sale pri to any payment to the undersigned on completion, as advised by the Listing Brokerage to my lawyer. SIGNED. SEALED AND DELIVERED in the presence ot. IN 'MTNESS YA1e of I have hereunto set my hand and seal: ~i...................................................................... ........................... .............. ..................................... . DATE.1.1..4.?j..l..Y4.( ~i...................................................................... .:..........~~~i..!.~~~~~..~~.~~~~~~~!.n.:............... ! DATE................................... SPOUSAL CONSENT: The Undersigned Spouse of the eller hereby consents to the disposition evidenced herein pursuant to the provisions of the Family Law Act, R.S.O.1990, and h reby agrees with the Buyer that he/she will execute all necessary or incidental documents to give full force and effect to th sale evidenced herein. (Wi,',;;;i...................................................................... .~.;;.;j..... .............................................................. ! DATE................................... CONFIRMATION OF ACCEPTANCE: Notwilhslandin anything contained herein to the contrary, I confirm this Agreement with all . I O:-eo M11 J' changes both typed and written was finally accepte y all parties at....jJ!t.t.5.f..ff.{.J.ffrM.t!.............,.:/.,.'6.T#......day of..........................Mi'ly................................., ....o.e..... . .................. ...iSljjnaiur.~ef,!.w""1f..,{............ IN ORMATION ON BROKERAGE(S) List; ng Brokerage.......... ..... ...Boll.al. t.eP.age..!;!.<I;. J:lge. Healtll. .C.0,..6Iokerage.. ... ..... .... .... ...... TeI.No.(. ...?.!.~.....). ...... ..?~f?~~?;::~........ .,1 .. ........................................................................... ......(Acijf.lg.a.$..a.D..l,I,aI.Agef.l~......................................................................................... Co~op/8uyer Brokerage. ...., "..",.. ........ ........"... .......... ............................ ................ ................, ........... TeI.No.(......... .......). .... ......".... .......... ..... ... ...............................................,................... ..................................................................................................................................................... ............................................................................ DATE...................... (Buyer) ACKNOWLEDGEMENT I 'acknowledge receipt of my signed copy of is accepted Agreement of I ackno'h1edge receipt of my signed copy of this accepted Agreement of Purchase and Sale and J authorize the Age to forward a copy to my lawyer. Purchase and Sale and I authorize the Agent to forward a copy to my laWfer. ............................................................. ........ .... DATE...................... (Seller) .................................................................. ........DATE...................... (Seller) ............................................................................ DATE...................... (Buyer) Address for Servlce...9.Q19..w..l:li!!1J:I!;m:1.8~,..Mi.$.$[$$;e),Jg;e,......... ..............QN...I,,!?Y..;??,4..............l....TeI.Na.(..~~9.!?.. ...J)~7..CRg.!?Q..... Buye(s Lawy,er.....:ft:::-./.II:1...../..,,4~.(.f.{.(,.L. ........................... Address.....,...k:2,....A.?tjfHittf.t..~?.... .. './.N.(t/t.~'!J.!.?r.€ (.:ft/{)...3T~~..':CC.?-:p.t)7..... (..ti'j.f.)....J.:fIo.~::::::Jj.3) Address far Service..1.47..!?.CQO,..R,..R... ..#.9...~i.IJ.c.;egi.in~...QN...... ..... .... ..........N;?Z.;?X9... .................... Te No.(..R.U!..)....~S.9.:.:}.4!1!:l..... Seller's Lawyer.... ...... ..... ....... G[<lham ,. .Mah9.oQ. .......................... Address.. ~ ~ .~..~~!TI~.t.9n.~.t:.t.~:9... .~~';C..~ ..1, ~~m~~ip.in~d?~..~.?y.~ ...... (.5.1.9...)..... ..... .396.,a.1.44............... ..5.1.9..)......... ..396,9.446... ...... Tel.No. FAX No. FOR OFFICE USE ONLY COMMISSION TRUST AGReMENT To: Co-operating Brokerage shown on the oregoing Agreement of Purchase and Sale: In consideration for the CCH:Iperaling Brok ge procuring the foregoing Agreement of Purchase and Sale. I hereby declare that all moneys received or receivable by me in connection with the Transaction as contemplated in the ML Rules and Regulations of my Real Estate Board shall be receivable and heid In trust This agreement shad constitute a Commission Trust Agreement I as defined in the MLSi!l Rules and shall subject to and govemed by the Ml~ Rules pertaining to Commission Trust. DATED as of the date and time of the eptance of the foregoing Agreement of Purchase "and Sale. Acknowledged by: '. '. (~ih~ri.z~d.to.bi~d.th;.Li~iJ~ii.8~k. .g.e)..'........................................... iAU.th~rlZ.~d.tO.bi~d.th;.C~:~;;e.;e.ti~g.B~ke.rag~)........ ...... ... .............. m 02009.0nlllrioRuIEstldeAllIod n{"OREA1. A.rlgh!$l'9QIVed. Th!$torrTI_dev~b'fOREAfortheUHandreprodLlcllonofltsmembel1l.ndtlcense'" ~- onti. Afr.J ollMr LIse or reproduction II hiblted e~cept'Mlh priorwritlln COMenl ofOREA. 00 nol etterwllen printing or NprDdLldfl1l the Il.nda/d pre4eI portion. Farm 100 2009 Page 4 of 5 filoglx forms'" 2009 ROYAL LEPAGE EXCHANGE REALTY CO. BROKERAGE MEA Ontario RealE$bM Associorion Schedule A Agreement of Purchase and Sale ......- Fann 100 for use In the PrcvInce of Ontmo This Schedule is attached to and forms part of the Agreement of Purchase and Sale betw. en: BUYER,... .... ...... .............. .................. ................ ....!:Ii1m~:(t~i'!~.~!~l. .......... ........ ... ........ ...... ...... ...... .............., and SELLER, .... ........ .... .............. .... .............. ..............M\l.')!~!p.?J!!Y..9.t!S!!19.a!.c:J.i!!!1...... ......... ....... ................. ........... ......... forthe purchase and sale of .............................~.S!Qn!ly..r.~j;mt;l.(:;r.~I?!<!lnt.M.4ni .Ip;;l!l.\Y..Qf.I:<iJ:l.q~~t;liJ:l~........................... ........................................................ dated the ..................1.4.l!l................. ay of ........... ..M?Y..............., 2o....9.l1... Buyer agrees to pay the balance as follows: The Buyer agrees to pay the balance of the purchase price, subject to a stments, 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 th~UniCiPal Council representing the MunlcipallW of Kincardine. Unless the Seller gives notice in 'M'iting elil.ered to the Buyer not later than 4:00 p.rn. 911 the~ day of June, 2009, that this condition is fulfilled, this Offe shall be null and Io\:lid and the deposit shall be }").f!iturned to the Buyer in fulllhithout deduction. This condition is i luded for the benefit of the Seller and may be waived at the Seller's sole option by notice in 'M'iting to the Buye lhithin the time period stated herein. The Seller agrees to supply any survey of the property in his ssession or under his control to the Buyer, as soon as possible and prior to the last day allowed for elaml . g title. " . The Seller represents and warrants to the best of the Sell's knolMedge and belief that during the period of his ownership of the property, that all emAronmentallaws a regulations have been complied lhith, no hazardous conditions or substances el<ist on the land, no Iimitatio or restrictions affecting the continued use of the property el<is~ other than those specifically provided for herei no pending litigation respecting Environmental matters; no outstanding Ministry of Environment Orders, investi 'ons, charges or prosecutions regarding Environmental matters el<is~ there has been no prior use as a disposal site, and all applicable licenses are in force. The Seller agrees to provide to the Buyer upon reque all documents, records, and reports relating to environmental matters that are in the possession of the Seller. e Seller further authorizes the appropriate Ministry, to release to the Buyer, the Buyer's Agent or Solicitor, an and all information that may be on record in the Ministry office lhith respect to the said property. The Partie agree that this representation and warranty shall form an integral part of this Agreement and survive the comp tion of this transaction, but apply only to circumstances el<isting at completion of this transaction. "BUSINESS DAYS" means any day oth than a Saturday or a Sunday or a Statutory Holiday in the Province of Ontario. "CLOSING DATE" means TWELVE ( ) business days immediately follolhing removal of the aforementioned condition pertaining to the Munlcipa ouncil. The Buyer herein acknolMedges at a "Building Permif' cannot be obtained for the subject property. The Buyer and Seller hereby a nolMedge that the Province of Ontario has implemented current value assessment and properties be re-assessed on an annual basis. The Buyer and Seller agree that no claim lhill be made against the Buy or Seller, or any Brokerage or Salesperson, for any changes in property tax as a resutt of a re-assessment of e property. The parties to this Agree nt acknolMedge that no information provided by the real estate Broker(s) so named in the Agreement is to be nstrued as legal, tax or environmental advice. . This form must be in' aled by all parties to the Agreement of Purchase and Sale.. . < INITIALS OF BUYER(S)~ INITIALS OF SELLER(S):~ I 'm I CI 2009,Ontario RnlEs , Aaoclation ("OREA,. Alrlg/n,",l\/ad. Thlafonn_dwelapedbyOREAfotthellHlnd,.pfDductlono'ltsmembe,.,IldIlceI'lSll" "~",,,' anfy.Nrfother....orl udlonlapl'OMlillld'.C8ptwlthprtorwritt&neo~otOREA. OonolalterwhenplnllngcneprodUdngltleillllndlrdPIHlllPGrtlon. Form 100 2009 Page 5 of 5 fflog;x forms"" 2009 ROYAL LEPAGE EXCHANGE REAL7YCO. BROKERAGE . .,. SCHEDULE "B" Schedule lOB" to the Agreement of Purchase and Sale between H ed Jamshidi, as Buyer, and the Municipality of Kincardine, as Seller, in connection wit he property known as: 3 Stoney Island Crescent, Municipality of Kincardine, County of ruce. This Offer is conditional for a period of SEVEN (7) days om the date of acceptance of this Agreement, upon the Buyer's spouse inspecting the pro rty and that it meets with her total satisfaction, failing which then this Offer shall become ull and void and the Buyer's deposit shall be returned without interest or penalty. These co itions are included for the benefit of the Buyer and may be waived by the Buyer at the B errs sole option within the time period allowed. '.