Loading...
HomeMy WebLinkAbout10 087 20 Kinhuron Road Property Sale By-Law• • THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE BY -LAW NO. 2010 - 087 BEING A BY -LAW TO AUTHORIZE THE SALE OF PROPERTY TO MARK HUTCHINSON AND CLAIRE THOMAS (20 Kinhuron Rd, 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 January 14, 2009 has declared surplus to its needs that property described as Plan 828 BLK A Pt BLK D, Municipality of Kincardine (geographic Township of Kincardine), County of Bruce, known municipally as 20 Kinhuron Road; AND WHEREAS an appraisal was completed by the Municipality of Kincardine on June 20, 2008; AND WHEREAS the Council of the Municipality of Kincardine deems it advisable to dispose of the aforementioned property; AND WHEREAS Mark Hutchinson and Claire Thomas have submitted an offer to purchase the aforementioned property in the amount of $45,000.00; NOW THEREFORE the Council of The Corporation of the Municipality of Kincardine ENACTS as follows: 1. That the Mayor and Chief Administrative Officer be authorized and directed to sign and 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 828 BLK A Pt BLK D, Municipality of Kincardine (geographic Township of Kincardine), County of Bruce, known municipally as 20 Kinhuron Road, and to affix the corporate seal of the Municipality of Kincardine. 2. The sale price for the said property be forty five thousand ($45,000.00). ...12 • • • • Page 2 20 Kinhuron Road Property Sale By -law By -law No. 2010 - 087 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 credited to the OSTAR Design /Construction Trunk Watermain Project. 4. This by -law shall come into full force and effect upon its final passage. 5. This by -law may be cited as the "20 Kinhuron Road Property Sale By -law ". READ a FIRST, and SECOND time this 16 day of June, 2010. y6r ` Clerk READ a THIRD time and FINALLY PASSED this 16 day of June, 2010. Confirmation of Co- operation and Representation BUYER: Mark Hutchinson and Clair Thomas SELLER: Municipality of Kincardine For the transaction on the property known as 20 Kinhuron Road Kincardine 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 of the 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. DECLARATION 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. ORM Ontar Real Es tate Association MULTIPLE REPRESENTATION The Listing Brokerage has entered into a Buyer Representation Agreement with the Buyer and represents the interests of the 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 Broker has a duty of full disclosure to both the Seller and the Buyer, including a requirement to disclose all factual information about the property known to the Listing Brokerage. However, the Listing Brokerage shall not disclose: -That the Seller may or will accept less than the listed price, unless otherwise instructed in writing by the Seller; -That the Buyer may or 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 and/or disclosures by Listing Brokerage: SIGNED BY THE BROKER /SALESPERSON REPRESENTATIVE(S) OF THE BROKERAGE(S) (Where applicable) RE /MAX LAND g EXCHANGE LTD Brokerage (KIN) Name LAND EXCHANGE LTD Brokerage (KIN) (Name 521 521, Q UEEN STREET KINCARDINE B O of 21 768 t UTE EN Brokera Tel:. (519)3 +r : ' (Authorized to bin • - mg . Fax: rokerage) Date /)' 4 ij' (Print Name of Broker /Salesperson Representative of the Brokerage) Tel (519)8444 ACKNO E T I have received, read, and unders r d the above information. r ' a.. o sel Mu of Kincard e a..M fK1 Date '(...(.3 .. atur er - Date ... , (Signature of Seller) ignature uyer ET KINCARDINE (519)396 -9070 Date. !l.?.# /5 / T CLARK ratin• /Buyer Brokerage) (Print Name of Broker /Salesperson Representative of the Brokerage) Form 320 for use in the Province of Ontario CONSENT FOR MULTIPLE REPRESENTATION (To be completed only if the Brokerage represents more than one client for the transaction.) The Seller /Buyer consent with their initials to their Brokerage representing more than one client for this transaction. SELLER'S INITIALS CL e omas 03 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. i ll .Dte•!�' tchinson Date. BUYER'S INITIALS Form 320 2008 Page 1 of 1 WEBFormsTM Feb /2008 4aRM Lila* Agreement of Purchase and Sale Form 100 Association for use in the Province of Ontario This Agreement of Purchase and Sale dated this 4th day of June 2010 BUYER, Mark Hutchinson and C1ailahomas , agrees to purchase from (Full legal names of all Buyers) SELLER, Municipality of Kincardine , the following (Full legal names o} alf Sellers) REAL PROPERTY: Address 20 Kinhuron Road fronting on the North side of Kinhuron Road in the Municipality of Kincardine and having a frontage of 245.47' more or less by a depth of 69.05' irreZular more or less and legally described as Plan 828 BLK A Pt BLK D Kincardine Township, Municipality of Kincardine, County of Bruce (the "property "). (Legal description of rand including easements not described efsewfiere) PURCHASE PRICE: Dollars (CDN$) 45,000.00 Forty -Five Thousand Dollars DEPOSIT: Buyer submits Upon acceptance ( Herewith /Upon Acceptance /as otherwise described in this Agreement) One Thousand Dollars (CDN$) 1,000 by negotiable cheque payable to RE/MAX LAND EXCHANGE LTD. "Deposit Holder" to be held in trust pending completion or ocher 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 otherwise 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 attached hereto form(s) part of this Agreement. • 1 EVOCABILITY: This Offer shall be irrevocable by BuYer (Sefbr /buyer) until 8:00 p.m. on 11 day of June 20 10 , after which time, if not accepted, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without interest. 2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m. on the 20th day of October , 20 10 Upon completion, vacant possession of the property shall be given to the Buyer unless otherwise provided for in this Agreement. 3. NOTICES: The Seller hereby appoints the Listing Brokerage as agent for the Seller for the purpose of giving and receiving notices pursuant to This Agreement. Where e a ra Brro k erage ( Buyer's Brokerage) has entered into a representation agreement with the Buyer, the hereby appoints the Buyer's e both the ar and the er (multiple and �M notices the &vicar�a all �t a be entitled Bkerage_ represents or to be agent for either the Buyer or the Seller for the purpose of giving and receiving no ices. My notice relating hereto or provided for herein shall be in writing. In addition to any provision contained herein and in any Schedule hereto, this offer any counteroffer, notice of acceptance thereof or any notice to be given or received pursuant to this Agreement or any Schedule hereto shall be deemed given and received when deliva personally or hand delivered to the Address for Service provided in the Adcnowledgement below, or where a facsimile number is provided herein, when transmitted electronically to that facsimile number. FAX No. (519)396 -9070 (For delivery of notices to Seller) F No. (519)396 -9070 (For delivery of notices to Buyer) INITIALS OF BUYER(S): t '� INITIALS OF SELLER(S): O 2010, Ontario Real Estate Assoddo■ rOREA). Al righ s served. This form was demloped by OREA for the use and reproduction of b nwnbas and kermat •rir Ary dhor use or repoducion is pnohitiild errospr with prior writer woo* of OREA- Do not oh. when PMng a npnoAndre Ir s/adad Pn+w Palm Fonn 100 Rev. 03/2010 Page 1 of 5 WEBFormsm Mar/2010 4. CHATTELS INCLUDED: ' NIL. 5. FIXTURES EXCLUDED: NIL. 6. RENTAL ITEMS: The following equipment is rented and not included in the Purchase Price. The Buyer a rees to assume the rental contract(s), if assumable: NIL. ; -z/.0.44. MO car 7. GST /HST: If the sale of the properly (Real Property.as d s i.bed above) is subject to Goods and Services Tax (GST) or Harmonized Sales Tax (HST) then such tax shall be , Purchase Price. If the sale of (included in /in adition to) the property is not subject to GST or HST, Seller agrees to certify on or before closing, that the sale of the property is not subject to GST or HST. Any HST on chattels, if applicable, is not included in the purchase price. 8. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the 12th day of October , 20 10 , (Requisition Date) to examine the title to the Property at Buyer's own expense and until the earlier of: (i) thirty days fro rr theater of the Requisition Date or the date on which the conditions in this Agreement are fulfilled or otherwise wa or; (ii) five days prior to completion, to satisfy Buyer that there are no outstanding work orders or deficiency no .#� ytit affecting the Property, and that its present use ( Ro ai A - ..2 -446 attil� � al .) 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 releasing to Buyer details of all outstanding work orders and deficiency notices af 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 completion, as evidenced by a letter from the relevant municipality or regulated utility; (c) an minor easements for the supply of domestic utility or telephone services to the property or adjacent properties; and (d) any easements for drainage, storm or sanitary sewers, public utility lines, telephone lines, cable television lines or o er 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 (Title Insurance) 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 Cooperating 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 Sale of the Property, and where the transaction will be completed by electronic registration pursuant to Part III of the Land Registration Re Act, R.S.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 agreeable to both lawyers. 12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abstract survey or other evidence of title to the property except such as are in the possession or control of Seller. If requested by Buyer, Seiler 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), INITIALS OF BUYER(S)• �,I �Y INITIALS OF SELLER(S): (10) 02010, Ontario Rd EsurMwiden (TRW. Al this reserved. This lam was a.* iid a IiA C for lie No • r roproludfoo d s n.. and Imam ..."' ants My chr use a npodolon is proht>Nd step with prior Wien consent of OkEA Do nol obr whm whiling o «reprodudig M salad posed Pam Fonn 100 Rev. 03/2010 Page 2 of 5 WEBFonn&" Mar/2010 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 form on completion, Buyer agrees to accept Seller's lawyer's personal undertaking to obtain, out of the 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 complete 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 of the 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. PROPERTY ASSESSMENT: 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, save an except any property taxes that accrued prior to the completion of this transaction. 20. 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. 21. 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. 22. 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. 23. 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. 24. LEGAL ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the b rokerage is not legal, tax or environmental advice. 25. 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. 26. 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 with all changes of gender or number required by the context. 27. TIME AND DATE: Any reference to a time and date in this Agreement shall mean the time and date where the property is located. INITIALS OF BUYER(S): 4 INITIALS OF SELLER(S): Now o 2010, o,rala Red fade Auodala rOREA1. M rigl* reserved. na kxm was d.,llop.d by OREA for M odWbn of k members and unseat ody Any der use «mpoducron k proliblied errord wilt prior warren consent of OREA Do not flier vAen Only a reproducing to Ymdard great palm. Foam 100 Rev, 03/2010 Pegs 3 of 5 WEBFonns"' Mar/2010 28. SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms herein. SIGNED, SEALED :, .so'' ED ' the pre = .f: IT SS whereof I have hereunto set my hand and seal: 1100,,,ikiz-k, Mar , utchinson (Seal) ( 4 001fICP' ilk ° u .� DAT .�.!Q. .. #0 • is......... ( e y, ai (seal) I, the Undersigned Seller, agree to the above 0 :r. I hereby irrevocably 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 applicable), from the proceeds of the sale prior to any payment to the undersigned on completion, as advised by the Listing Brokerage to my lawyer. SIGNED, SEALED AND DELIVERED in the presence of: IN WITNESS whereof I have hereunto set my ha d and seal: ( , ---CYlf..flg-g,Ai e....e • ekt t unicipality of Kincardine kb W (Witness) (Seller) (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.0.1990, 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. • (witness) I�iel DATE CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all Pm changes both typed and written was finally accepted by all parties at S .m. this / day of °`! !�N'" , 20 10 .4r, -4`e. .. ...X ignalwe o beam or buyer) INFORMATION ON BROKERAGE(S) listing Brokerage RE/MAX LAND EXCHANGE LTD Brokerage (KIN) Tel.No (519)396 -8444 BOX 521, 768 QUEEN STREET KINCARDINE Coop/Buyer Brokerage RE/MAX LAND EXCHANGE LTD Brokerage (KIN) Tel.No (519)396 -8444 BOX 521, 768 QUEEN STREET KINCARDINE 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 to forward a Dopy to my lawyer. Purchase and Sale and I authorize the Agent to forward a copy to my lawyer. (seileij Municipality ofKincardine DATE lid Mark'Tlutchinson DATE ISM DATE Niter) Clair Thomas DATE Address for Service Address for Service Tel.No Tel.No Seller's Lawyer Buyer's Lawyer Address Address Te(.No. FAX No. Tel.No. FAX No. FOR OFFICE USE ONLY COMMISSION TRUST AGREEMENT To: Brokerage shown on the foregoing Agre nt of Purchase and Sale: RE/MAX LAND EXCHANGE LTD Brokerage (KIN) In for the Cooperating Brokerage 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 MIS® Rules and Regulations of my Real Es$ate Board shall be receivable and held in trust. This agreement shoal constitute a Commission Trust Agreement as defined in the MLS® Rules and shall be sub(ect to and governed by the MESS Rules pertaining to Commission Trust. DATED as of the date and time of the acceptance of the foregoing Agreement of Purchose and Sale. Acknowledged by (Authorized to bind the Listing Brokerage) (Authorized to bind the Cooperating Brokerage) o 2010, Ordain Rd Ems Assodaton (*OPEA). Al eights rowed: ft bnn was dada sd by OREA for be use and nprodu:nen of in members and tarsus .w+u only Any other use a npoducton A prdil>ltsd •sript with pdor wrap sass" of OREA. Do not aYr when grump Of nipadudng the Standard i eest portal. Fong 100 Rev. 03 /2010 Page 4 of S WEBFormsw Mar/2010 ,gpF,A groat. Schedule A Forte, loo Agreement of Purchase and Sale For use in the Province of Ontario This Schedule is attached to and forms part of the Agreement of Purchase and Sale between: BUYER, Mark Hutchinson and C1ailgThomas , and SELLER, Municipality of Kincardine for the purchase and sale of 20 Kinhuron Road Kincardine dated the 4th day of June , 20 10 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 by certified cheque, to the Seller on the completion of this transaction. This offer is conditional until September 30, 2010 upon the following: a) obtaining approval to have the property rezoned from the existing planned development zoning to single family residential zoning at the cost of the Buyer; b) obtaining approval from the Saugeen Valley Conservation Authority to build a single family residential home on the property; failing which, this agreement shall become null and void and the Buyer's deposit shall be returned to the Buyer in full This offer is conditional upon the Buyer satisfying himself as to the cost to bring municipal water to the lot line, within TEN (10) days from the acceptance of this offer by the Seller, failing which, this agreement shall become null and void and the Buyer's deposit shall be returned to the Buyer in full The Seller agrees to provide to the Buyer the survey of the subject property in the Seller's possession and under the Seller's control on or before the date required for requisitions. 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 Broker or Salesperson, for any changes in property tax as a result of a re- assessment of the property. The Buyer and Seller acknowledge that they have been advised that they may seek outside professional advice such as lawyers, home inspectors, surveyors, accountants, insurance agents or brokers, mortgage consultants prior to signing this offer. The Buyer and Seller agree that a true copy or fax copy of the original accepted Agreement of Purchase and Sale be accepted as a true copy. 1 tt t S Cs c 5 5 � �c `t -to i nn < c Cl / 41 r •■•••• &C?Ei.pit ON,,, c t9 `" L t a This form must be initialed by all parties to the Agreement of Purchase and Sale.. INITIALS OF BUYER(S): INITIALS OF SELLER(S) :,* ' 0 2010, Onbio Rd Emcee A.00turon Minn a riefs reserved. mr form was &eloped by O1tEi► for he we and npododion of is members and Roma only. My air me or npodurlan k pobbisd amore wMi prior velem comet of OKA. Do not obr when pre lisp a lop oduoiip /» stendad prat* police. Form 100 Rev. 03/2010 Page 5 of 5 WEBForms"' Mar/2010 Ontario Real Agreement of Purchase and Sale o Associat ation This Agreement of Purchase and Sale dated this 15th day of May 20 10 BUYER, Mark Hutchinson and ClaivThomas (Full legal names of all Buyers) SELLER, Municipality of Kincardine REAL PROPERTY: and having a frontage of 245.47' County of Bruce Fifty Thousand (Full legal names of all Sellers) Address 20 Kinhuron Road fronting on the North side of Kinhuron Road in the Municipality of Kincardine more or less by a depth of 69.05' irregular and legally described as Plan 828 BLK A Pt BLK D Kincardine Township, Municipality of Kincardine, (Legal description of land including easements not described elsewhere) PURCHASE PRICE: Dollars (CDN$) 50,000.00 DEPOSIT: Buyer submits Upon acceptance (Herewith /Upon Acceptance /as otherwise described in this Agreement) Form 100 for use in the Province of Ontario , agrees to purchase from , the following more or less (the "property "). Dollars One Thousand Dollars (CDN$) 1,000.00 by negotiable cheque payable to RE/MAX LAND EXCHANGE LTD. "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 tie acceptance of this Agreement. The parties to this Agreement hereby acknowledge that, unless otherwise 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 attached hereto form(s) part of this Agreement. 1. IRREVOCABILITY: This Offer shall be irrevocable by Buyer until 8:00 p.m. on -s1 �e ‘71---- �� � � Seller /Buyer) r a the day of MaY 20 10 , after which time, if not accepted, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without interest. 2. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m. on the 23rd day of July , 20 10 Upon completion, vacant possession of the property shall be given to the Buyer unless otherwise provided for in this Agreement. 3. NOTICES: The Seller hereby appoints the Listing Brokerage as agent for the Seller for the purpose of giving and receiving notices pursuant to this Agreement. Where a Brokerage (Buyer's Brokerage) has entered into a representation agreement with the Buyer, the Buyer hereby appoints the Buyer's Brokerage as agent for the purpose of giving and receivin notices pursuant to this Agreement. Where a Brokerage b the S and the Buyer (multiple represeniatiion), the Brokerage shall not be entitled or authorized agent for ei the Buyer or the Seller for the purpose of giving an receiving notices. Any notice relating hereto or provided for herein shall be in writing. In addition to any provision contained herein and in any Schedule hereto, this offer any counteroffer, notice of acceptance thereof or any notice to be given or received pursuant to this Agreement or any Schedule hereto s(lall be deemed given and received when delivered personally or and 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. (519)396 -9070 (For delivery of notices to Seller) FAX No. (519)396 -9070 INITIALS OF BUYER( C, a INITIALS OF SELLER(S): © 2010, Ontario Real Estate Association ("OREA "). All rights reserved. This form was developed by OR use and reproduction of its members and licensees ". only. Any other use or reproduction is prohibited except with prior written consent of OREA. Do not alter when printing or reproducing the standard preset portion. Form 100 (For delivery of notices to Buyer) Rev. 03/2010 Page 1 of 5 WEBFormsTM Mar /2010 4. CHATTELS INCLUDED: NIL. 5. FIXTURES EXCLUDED: NIL. 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: NIL. �a--- i tn a _ __..._ G"...._ i . 7. GST /HST: If the sale of the property (Real Property.as_�ns d d abov is subject to Goods and Services Tax (GST) or Harmonized Sales Tax (HST) then such tax shall be (included in the Purchase Price. If the sale of the properly is not subject to GST or HST, Seller agrees to certify on or • - -' ., that the sale of the property is not subject to GST or HST. Any HST on chattels, if applicable, is not included in the purchase price. 8. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the 16th day of July 20 10 , (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 clays prior to completion, to satisfy Buyer that there are no outstanding work orders or deficiency notices affecting the Property, and that its present use ( Residential ) 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 releasing to Buyer details of all outstanding work orders and deficiency notices 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 specifpcalfy p rovided in this Agreement and save and except for (a) any registered restrictions or covenants that run with the land 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 completion, as evidenced by a letter from the relevant municipality or regulated utility; (c) an minor easements for the supply of domestic utility or telephone services to the property or adjacent properties; and (d) any easements for drainage, storm 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 (Title Insurance) in favour of the Buyer and any mortgagee, (with all related costs at the expense of the Seller), and which Buyer er 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 Sale of the Property, and where the transaction will be completed by electronic registration pursuant to Part III of the Land Registration Reform Act, R.S.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 agreeable to both lawyers. 12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abstract, survey or 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 properly 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), INITIALS OF BUYER(S): INITIALS OF SELLER(S): 031 © 2010, Ontario Real Estate Asscciation ( "OREA ";. All rights reserved. This form was developed by OREA for the use and reproduction of its members and licensees V_ on Any other use or reproduction is prohibited except with prior written consent of OREA. Do not after when printing or reproducing the standard pre-set portion. Form 100 Rev. 03/2010 Page 2 of 5 WEBFormsM Mar /2010 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 form on completion, Buyer agrees to accept Seller's lawyer's personal undertaking to obtain, out of the 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 complete 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 of the 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. PROPERTY ASSESSMENT: 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, save and except any property taxes that accrued prior to the completion of this transaction. 20. 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. 21. 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. 22. 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. 23. UFFI: Seller represents and warrants to Buyer that during the time Seller has owned the property, Seller has not caused any building on the properly 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. 24. LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the brokerage is not legal, tax or environmental advice. 25. 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. 26. 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 with all changes of gender or number required 6y the context. 27. TIME AND DATE: Any reference to a time and date in this Agreement shall mean the time and date where the property is located. INITIALS OF BUYER(S): INITIALS OF SELLER(S): © 2010, Ontario Real Estate Association rOREA"1. All rights reserved. This form was developed by OREA for the use and reproduction of its members and licensees only. My other use or reproduction is prohibited except with prior written consent of OREA. Do not alter when printing or reproducing the standard preset portion. Form 100 Rev. 03/2010 Page 3 of 5 WEBFormsTM Mar /2010 28. SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms herein. SIGNED, SE9B7XIQ DI) - IVERED in t (Witness I, the Undersigned Seller, agree to the above Offer. I hereby irrevocably 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 applicable), from the proceeds of the sale prior to any payment to the undersigned on completion, as advised by the Listing Brokerage to my lawyer. SIGNED, SEALED (Witness) (Witness) (Spouse) (Buyer) falr'l' omas LIVERED in the prese IN WITNESS whereof I have hereunto set my hand and seal: (Seller) er) Municipality of Kincardine 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. CONFIRMATION OF ACCEPTANCE: Notwithstanding anything contained herein to the contrary, I confirm this Agreement with all changes both typed and written was finally accepted by all parties at a.m. /p.m. this day of , 20 10 INFORMATION ON BROKERAGE(S) Listing Brokerage RE/MAX LAND EXCHANGE LTD Brokerage (KIN) TeI.No (519)396 -8444 BOX 521, 768 QUEEN STREET KINCARDINE Co Brokerage RE/MAX LAND EXCHANGE LTD Brokerage (KIN) TeI.No (519)396 -8444 BOX 521, 768 QUEEN STREET KINCARDINE (seller) "Municipality of Kincardine (Seller) nce of: IN WIT ESSwhereof I have hereunto set my hand and seal: ( (Se fE , 4 / t. DA)E /b ' l to • DATErrtc: -( / 7/ C (Seal) • DATE (Seal) DATE (Seal) (Signature of Seller or Buyer) 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 to forward a copy to my lawyer. Purchase and Sale and I authorize the Agent to forward a copy to my lawyer. DATE DATE (Buyer) Mark Hutchinson DATE (Buyer) Clair Thomas DATE (Authorized to bind the Listing Brokerage) (Authorized to bind the Co-operating Brokerage) Address for Service Address for Service TeI.No TeI.No Seller's Lawyer Buyer's Lawyer Address Address Tel.No. FAX No. Tel.No. FAX No. FOR OFFICE USE ONLY COMMISSION TRUST AGREEMENT To: Co-operating Brokerage shown on the foregoing Agreement of Purchase and Sale: RE /MAX LAND EXCHANGE LTD Brokerage (KIN) In consideration for the Co-operating Brokerage 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 MLS® 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 MIS® Rules and shall be subject to and governed 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: 1 I,J © 2010, Ontario Real Estate Association ("OREA"). All rights reserved. This form was developed by OREA for the use and reproduction of its members and licensees Ll os° only Any other use or reproduction is prohibited except with prior written consent of OREA. Do not alter when printing or reproducing the standard preset portion. Form 100 Rev. 03/2010 Page 4 of 5 WEBForms Mar /2010 • t R Ontorio Schedule A i 7'� Real Estate Association Agreement of Purchase and Sale This Schedule is attached to and forms part of the Agreement of Purchase and Sale between: BUYER, Mark Hutchinson and Clair Thomas SELLER, Municipality of Kincardine for the purchase and sale of 20 Kinhuron Road Kincardine Buyer agrees to pay the balance as follows: dated the 15th day of May Form 100 for use in the Province of Ontario 20 10 The Buyer agrees to pay the balance of the purchase price, subject to adjustments, by bank draft or by certified cheque, to the Seller on the completion of this transaction. This offer is conditional upon the Buyer being able to arrange financing suitable to the Buyer in the Buyer's absolute discretion within TEN (10) days from the acceptance of this offer by the Seller, failing which this offer shall become null and void and the Buyer's deposit shall be returned to the Buyer in full without interest or penalty. This condition is included for the benefit of the Buyer and may be waived by the Buyer at the Buyer's sole option within the time period allowed. This offer is conditional upon the Buyer, obtaining at the Buyer's expense, all approvals necessary for the construction and occupation of buildings required by them on the above property, within TEN (10) days from the acceptance of this offer by the Seller, failing which, this agreement shall become null and void and the Buyer's deposit shall be returned to the Buyer in full. This offer is conditional upon the Buyer satisfying himself as to the cost to bring municipal water to the lot line, within TEN (10) days from the acceptance of this offer by the Seller, failing which, this agreement shall become null and void and the Buyer's deposit shall be returned to the Buyer in full The Seller agrees to provide to the Buyer the survey of the subject property in the Seller's possession and under the Seller's control on or before the date required for requisitions. 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 Broker or Salesperson, for any changes in property tax as a result of a re- assessment of the property. The Buyer and Seller acknowledge that they have been advised that they may seek outside professional advice such as lawyers, home inspectors, surveyors, accountants, insurance agents or brokers, mortgage consultants prior to signing this offer. The Buyer and Seller agree that a true copy or fax copy of the original accepted Agreement of Purchase and Sale be accepted as a true copy. 2 0/ IS e ;t / 'i'5 "/1 L U /3600-0 M#A l e r Mir' ( ,'L4kS This form must be initialed by all parties to the Agreement of Purchase and Sale.. INITIALS OF BUYER(S): INITIALS OF SELLER(S): 03 © 2010, Ontario Real Estate Association ( "OREA "1. 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. Do not alter when printing or reproducing the standard preset portion. Form 100 , and Rev. 03/2010 Page 5 of 5 WEBForms Mar /2010