HomeMy WebLinkAbout05 036 land sale charcomp
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THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2005 - 036
BEING A BY -LAW TO AUTHORIZE THE SALE OF
LAND TO CHARCOMP INVESTMENTS LIMITED
(East Side Highway #21, South of Highway #9, Municipality of
Kincardine)
WHEREAS Section 268 of the Municipal Act, 2001, S.D. 2001, c. 25, as
amended, provides for procedures for the sale of lands declared surplus by
municipalities;
AND WHEREAS pursuant to the said Municipal Act Section 8 bestows
municipalities with the capacity, rights, powers and privileges of a natural person
for the purpose of exercising its authority;
AND WHEREAS the Municipality of Kincardine has declared as surplus to its
needs approximately 16.5 acres of land located on the east side of Highway #21,
South of Highway #9, Municipality of Kincardine, in the County of Bruce being
more particularly described on the Agreement of Purchase and Sale attached as
Schedule "A" to this by-law;
AND WHEREAS Charcomp Developments Inc. wishes to purchase from the
Municipality of Kincardine the said 16.5 acres of land located;
NOW THEREFORE the Council for The Corporation of the Municipality of
Kincardine ENACTS as follows:
1.
That the Mayor and CAD. be authorized to execute such documents, on
behalf of The Corporation of the Municipality of Kinçardine, as they may
deem advisable to convey the lands described on Schedule "AU attached
hereto, to Charcomp Development Inc.
2. That the sale price for the said lands shall be one million, three hundred
and twenty thousand dollars ($1,320,000.00).
3. This transaction is subject to the conditions outlined in the Agreement of
Purchase and Sale attached to this By-law as Schedule "A".
4. All proceeds from this agreement shall be transferred to the Ward 1
Industrial Development Reserve Fund to repay the infrastructure loan.
5. This by-law shall come into full force and effect upon its final passage.
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Highway 9 & 21 Land Sale (Charcomp) By-law
By-law No. 2005 - 036
6. This By-law may be cited as the "Highways 9 & 21 Land Sale (Charcomp)
By-law" .
READ a FIRST, SECOND and THIRD TIME and FINALLY PASSED this 16th
day of March, 2005.
ß1(J~_t.~
Mayor
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This is Schedule" " to ~-LaW
No.o1oo5*passed the ~ day
of M AII'AI 2~ ItJ
AGREEMENT OF PURCHASE AND SALE~ ~
MaJor .
CharcomD Investments Limited oftàs to buy fto
The Corooration of the MuniciDaliW ofKi1u:4rdJne ~ the Vendors
NO AGENT NO AGENT the foUowing
(the Selling Broker) (the LisIin& Broker)
~~
A (s).
PRe PERTY:
fronting on the...E!!l!.side of HGWY # 21. South of Hitthwav # 9. known municipally as "shown as oer attached Sched1de "B" to be
SUDDliød and _ched bv the Vendor" in the Town of Kbu:tudJne. County of Bruce Province of Ontllrio and
having a frontage of_ more or less by a depth of more or less, belnfl tlDDroxinuJtelv sixteen and a half (16.5) acres (to be
conrumed bv the Vendor's Ontlll'lo Land Survevor) and as shown on the aIJIlChed SchedMk "S" beinll the lands North of the
existinll Canadian TIre Slore /Qnd and SouJh of the exislllnfl TIm Horton. SOMS and HEPCO lmuJ.. and described as:.J&ggl
DescrlDtüm to be sUDDlJed and altached bv the Vendor
AT irHE PURCHASE PRICE OF One MlI1Jon Three Hundred and 1\ve1Itv Thousand
on 1/1e following 1ermS:
,
Canadian Dollars (SCan 1,320,000.00)
I. Purchaser submits, as recited below, a deposit of FIItv ThOllSlllUl Dollars ($50,000.00 Can)
cbeque payable to the Vendor's Solicitor to be held in trust by the Solicitor pending completion or other termination of this Agreement and
to be credited towards the Purchase Price. This deposit shall be a first deposit of Twenty Thousand Dollars ($20,000.00) (as described
below) upon acceptance of this Agreement and a second deposit of Thirty Thousand Dollars ($30,000.00) to be posted upon the waiving of
the conditions contained in Schedule "A" attached hereto.
2 The Pruchaser agrees to pay the balance of the Purchasl! Price, subject to closing adjustments, In cash or by certified chet¡lll! to
the Vendor, on or before closing.
i Pruchaser and Vendor agree that the Agreement of Pruchasl! and Sale l1li9' be negotiated villfacslm/Je and upon acceptlllU:e a
¡ cIetm copy of the agreed upon terms and conditions wUl be submJ1ted and aæHted by both parties.
'Sched1de '~" Atú/JtJonoJ Provisions attached hereto form pœ1 of the Agreement of Purchasl! and Sale.
Sched1de "B" Site Skekh attached hereto form part of the Agreement of Purchase and Sale.
¡ It is agreed and understood that there are no RetIl EstlW Agents involved with this Agreement of Pruchase and Sale and
,accordingly there shall be no Real EstIIIe Commission JHIYIlbk by either party upon the stM:œSSfu1 complelton of this
,transaction.
3. ¡ lVdaaseraod Vendor qree thai all cxisûngfurtures are included in the purchase priœexc:ept those listed bcmmder. N/A
! IPd that die foDowing chattels are included in the pllJ'Chase price: N/A r.¡f
4. 'l'u.dI..."..... that this Ofl'."ball be imvo<able until 3,00 p.m. on the I R ðz¡ of March
: after which time, if not accepted, this Offer shall be null and void and the dëposit sbID be ret\I'nCd to Pw"ehaser without iDteresI or deduaioo.
,2005
S. T1rie Ag<eement ehall he completed 00 the 20 dIlVs folJowlne satisfactúm or waiver of conditions.
but not later than the 16th ðz¡of Mav
I Upcm completion, vacant possession ofllle property shall be givcø 10 Pun:baseI' uIIess odIenrisc provided as follows: N/A
.2006
6. 'l'o.dI..."ball he allowed uoti14,S9 p.m. 00 the 10 tIavs Drior to c/osine
110 examioe the title 10 !be propetty,,, ltisownexpeoue.1o astisfy IiliDeelfthat....... no ..........m,gwori< 0"'" afl'ecting the property. that ire .........., PROPOSED
IRETAIL SERVICE COMMERCIAL.mayheIawfullyoootUnoed,ODdthattheprindpalhuildingmayheu....r.dogainetriekof6re.
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7. ¡Provided that the nile to the property is good and free &om all encumbtanœs. except as atoœsaid and except for any registered ratrictions or covenants that nm with Ibe Iaød providing
that such are complied with and except for any registered subdivisioa or deveJopmeDt apement provided Ibm: same is DOt in defautt aod provided that sufficient sectØity bas been
IpØØted for the completion of an obligatioos WKler such agreemeo1 and 1ùrtbersubject 10 any rights ofrc c:utry in fawuroftbe builder, the subdivider, or 1M ~wbere such
! risbts relate to the comp1ctioa of 8DY obtigation pursuant to the Subdivision A&reaœot or similar obtiptions aød except tor 10)' minor easements to pubtic utilities required for the
¡supply of domestic utility SCl'\'ic:es to the property. If within the time a1Iowed for exIIDÏDiDS the tide any valid objectiœ. to title. or to any outsIaDdiq work order, ortothef'act the said
'preseo1 u.øe may not lawfully be cooriaued, or that the priooip81 buiIcIÎDI may notbeiand against risk of fire is made ÎD writing to Vendor aad which Veodoris unable or unwi1tinø: to
reIJIO\Ie, œmedy or satisfy and which Pun:baser will DOt waiYe,. Ibis AgœaDaIt, DOt.~ any intamediaIe ac:IS or negotiations in respect of such objtdioas. shaD be II an cad
i IIKI aU moaies 1I1eretoføœ paid shall be returned without iDteresI or dccIudic:m .. Veador and Vendor's Apnt sbaU not be liable for any c:osts or dImages. Save as to any wIid
i objoetìoa......... by- ðz¡ ODd exccptfor ony objection going 10 the rnorofthetìde. PurdIaeer ehaII he ""'¡ueivcIydeemed 10 bow accepIed Vendue'. titIe.o the property.
8. I 'Be Veador represeatl aad wanub .. tile hrcbser dIat diIe ........... ceVmctioa witlllIte prvperty have DOt been, as..1Ite date ef CØlpIetioa, iasaI8W wilt. a
! Urea Formaldehyde foam type ins....... pn\'kled.... if die ......... a put ef. multiple ... bddiog this ........ty sUB..., ateH to tlaat per1Ïoll of dte ........
! wbich is the subject oftbis tnlWletioD. nil Wal'TU1J'.....nive.............. 6e COlDpIetioa .fthe traosactioa.
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9. i Vendor and Pw'chaser asree that Ibere is 00 condition,. expras, or implied, ......~ or wammty of any kind that the futwe intended use of'the property by Purchase is or will be
1 iawfu] except as may be specifically stipulaled elsewhere in this Agreement.
IO.!Puwhaser sbaU DOt call for the production of allY ûtIc deed, abstract. survey «OIbercWJeøcc oftitlc to the property except such as are in tbc posscssiœ orCCdrol ofVeodor. Vendor
apes that, if requested by the Purchaser, he will deliver any sketch eX' sancy of the property ÎD his possession or within his OODtrolw Pun:basc:r as soon as possible and prior to the
last day aI10wed for examiniDg tide. In the event that a diac:IIaI'F of any IIIIJItpfC or cÞargc hcJd which is not to be IISSUIIlCd by the Pun::baser 00 [1JIIú'J1....:.... is DOl available iD
,.......... _ on completion, the Purohaser agreee 10""" the V........ -,......,.w uorlertoIcins 10 _ out of the cIoeinc -.. -.. or_ of~ in
I ægistrabIe form and to register same on title within a reasoaabIe period of IDes after coøplclion, provided Ihat 00 or before compIetioo the VCDdor shaD pIO\'ide to the Purchaser a
__ _ "..¡>ared by the mortgagee eettinc out the W- œqoAd ID ohÞin the -... ......... with . _ executed by the Vendor dHeeting 1'8"""" to the
:__. oftheamoont ooquired 10 obtain the -.. out of the W-due 00"""""'.
11. ,All buildin eoo the property and aII__ bemg¡uchased ehaII he............,¡ccmplelioo "the riel< of the Vendor. Pending completion. Vendor ehaII hold all_
policies, if any. and the proceeds thereof in .... for the partiee .. their _ may _... in the __ of _ damage, _baser may oitbe< _ litis A¡ reerMm and
have all monies lbereloforc paid returned withoul inIcrcst or deduction or else take the pocøcds of any insanDce ød complete the purebase.
12. ¡IProvided that this Agreemeot shall be effective to c:reaIe an inCcrcst ÎD the property only if'1be subdivision control provisions ofTbe Planning Act arc complied with by Vendor on or
before completion and Vendor hereby cow:nants to proceed diligently at his expeIIIC to obtain any DeCeSSaIy COI1SCÐt on or before completion.
13. ]Pur\:baser shall be credited towards the Purchase Price with the amount. ifauy. wbicII it shaD be necessary for Purchaser to pay to the Minister ofNaticmal ReYeouc åtonlel'to satisfy
¡Purchaser's liability in respect of tax payable by Vendor UDder !he øon-resideDcy pI'O\'ÏsÎOIII of the Inc:ome Tax Act by reason of this sale. Pun:bascr sball 001 claim such credit if
I vendor delivers on completion the prescribed çertÎfÏcate or his statutory declaration that be is DOl then a noo-œsident of Canada.
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14. Rent, mortgage interest, taxes, local improvements, water and assessment rates and tbe cost of filel shall be apportioned and allowed to the date of completion (the day itself to
apportioned 10 Purohaser).
IS. The deed «transfer shaD. save for the Land Transfer Tax Affidavit, which shall be pœpøred and compIcIed bytbc: Purcbuer, be prepared ill Iq1ÎSÞ'Iblc form at the expense of Vendor
1000the Mortgage" th. expenee of the PwdIaser.
KillCdl'dine Offer to Porch Hgwy 21 March 08 2005.DOC
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16. . Time 8baII in 011 _ be of.... """'" bcroorpnMded......... time fordoiD¡ or ÇC p )lotingor..y _pnMded for _ may be......sed or abridged by an agreement m
, wrilin&si¡øedbyV_IDd_orbylheU~_itorswhomaybe~_in IbaI ropnI.
17. Aay_of_orlllClllC)'__bemade__Vendoror_ortheir~_...theday"'''''''''''''''''of'''''_ Money_be
_ by _ dndt or cboquo _ by. ChoI1aod -. Trust Company. .......... ofOlúrio SaWop om... c...Iir umœ or Ca;sse _....
18. THE VENDOR WARRANTS THAT SPOUSAL CONSENT IS NOT NECESSARY TO nus TRANSACTION UNDER THE PROVISIONS OF THE FAMD. Y LAW ACf 1986,
UNLI!SS THE VENDOR'S SFOUSE lIAS EXECUfEI) THE CONSENT HEREINAFTER PROVID£D.
19. mE PURCHASER IS HEREBY NOTIFIED TIlAT A CONSUMER REPORT CONTAINING CREDIT AND/OR PERSONAL INFORMATION MAY BE REFERRED
TO IN CONNECnON WITH THIS TRANSACTION.
20. Aay..........- or permiIIcd 10 be øMn m Ibi, ^- ohoII be in writio¡ and ...,. be soffiç;oody Ii""" by "....,... """ce. or by ............ by tele>c, IeIqram or_.
to the GIber pmy II IbI ackhøøoa sot out henift or by te8'IÏDg it II the addresses Bel out herein. Notices shall be deaned 10 bøYc been validly IDS eftèçtiveIy giveo. .. die time and d8te
of SCiI"Vk:cI where pcI1JOIIII1y .-wd or allbe time and date of dcli~ where left lit the party'1 .Jdras or at the time and date of sendàI¡: if sent by telex, IeIep'am or racsimi&e.
NOTICE TO VENDOR: : TIle ClIIpOI'tIIion ofrlle
MIUIidpo/ity of ICùu:tutIine
ADDRESS: 1475 Cone. 5, RR 5,
'"""""""_ N1Z2X6
Telephone:: (5IP) 3f6J46I
FlOC (51') 396-8288
NOTICE TO PURCHASER: CJuuœnqJ Inl_Um/td
ADDRESS: 244l'tdJ MoB Street, _ 402
London, _ JV6, 5P6
Pfume: (51') 673-4000
Fax: (519) 673-4001
21.! Notwì~ say terms of coøditions outtiDed in the priatecI portioe berein. any ¡wviSÎoas wriUen or typed into Ibis Offer shall be the Ime terms ni sbaU supersede Ibe prinIod
portiooin_,odleJ*U_theroby. __-COIISIituIetheeniR......_---and VendorlDd......i'oo....-.;... _._
_orcooditioa-.lhia_orthe_or_heRby__............ heroin inwritiDg. __ohaIl be lad wìth aU dompsofpodor
or 1IIJO>bor..quired by the...-t.
22.! hrclaaser aekønledgeø be'" laspected die pnpel'tJ' prter .. .......... .. Offer... adentallds tbat upo. V.ar acceptin& this Offer then: shall be . .......
agreemeat of pareUse aDd sale betw_ hrdlaer... V"'r.
23. i The Vendor and Purchaser admowledge and agree tbIII in order to..... a We. aay salesperson or broker herein may assist in ammgiag any mortgage and may reoeive a fee: &om the
mortgagee for so doiDS, and, such real esI8Ie ~ ÐI' brvkc:r. is cnlided 10 this fee,. u. addition to the commission herein.
24.1 The Vendor and Purcltaser acknowledge and aø;ree tbIt ill onkr 10....... sale. any real estate salesperson or broker herein may offer IIftd ÇOQfer a benefit upon the Purchaser as 81\
iDduft --.-ttothc Purchaser to enter into aa qrecmeIIII of~ ......
2S. Iflhia_i, ,ubjectloGoocloand SaYooTIX(G.S.T.)__G.S.T. ohoIl beloodditiooto 1Dd""'_ in the purçhue price. ondG.S.T. _ be collected andnomitted
iø ICCCJrdaDœ with applicable ie¡Walion. J(dris traDs8dion is DOl subject 10 G.S.T.. the Veodor Ip'eCS 10 provide 011 01' befont closinø 10 tho Purdutser or Purchaser's solicitor a
...- Ì1 the roo. pnoajbed by the appIiœbIe 1e&isJaliœ (;roo.......'bed. or otherwiac in. roo. _ly"'~ 10 the pun:IIucr or....,.,..... oolic:ito<)....fyUtg IbaI the
tr--=tioa is DOl subject to G.S.T. "O.S.T. means the tax cc:IIIIDœIyrefem:d to as the øGoods aad Senrica TaxØ by Bitl C62, oftbe r.tiamcnt ofCanldl or as may be subsequently
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DllTED AI ........................................................London.............................._... .....Ihia ..IQ.... da arch....................................., 2005
, (Witnou)
o set my bioi and seal:
................¡.0.~£/~ºJ"..
i.d tIte corpel'lltiDD (Seal)
SI<!NED. SEALED AND DELIVERED
in","_,",
....,..................................................................................................
I<SN ~4 s;.sé . ;t1 ~
DATED at ............................................................................................................................................Ihia ................... day of .........._...................................................................... 2005
mSI~NED. SEALED AND DELIVERED IN WITNESS wbereofl ha.. _... my band 1Dd....:
,..~ _ 7h cog;r::~;l:..l":..lpalJly of Kincardine ~, --. Ø-r
.+~.:............................................ ~:i·~ø;._;;ïÿ¡;;ï;j;;;¡ø;.·;;;;~~~ <=............................
+(W¡_~~......C&¡............... ~fi"l:ï-..-;:.~,~...~~.(~):fDa.cch7.3/cs
ACKNOWLEDGEMENT
I a IoIowledge receipt ofmy aped copy of..... acee IIed Ap....- of_ and
~.IDd_...._Io_.copyloa>y_.
I acknowledge receipt of my signed copy of this accepted AgI;eement of Purchase and
Sale. and _ my _10 forward. copy 10 my ooIic:ilor.
Solicitor:
-:
T..........
.........................................................................................DaIe:.............
(\'1Rhasor)
..._..._._................................_.............._..._.......................... Date:........... .
(I'Iøobaao<)
Harrison Pma. AImdÎnn' MSÐlrice Pellarin
450 TAlbot SIreeI... 1.nndnn Ontarin
519.661-6724
.....................
............................................................................................... DaIe:..................._...............
(Vondor)
....................................................."........................................DaIe:...................................
(Vondor)
Solicitor: ..............-... ...................................................................................................
~: ........................................................................................................-.......-.......
Ti"""""".......................................................-...................--........
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Kincardine Offer t. Purch Hgwy 21 Morch 15 2005 - finol
SCHEDULE" A"
To aD Agreement of Purchase and Sale
Purchaser:
Chareomp Investments Limited
Vendor:
The Corporation of the Municipality of Kincardine
P~perty:
East Side Highway 1# 21 South of Highway # 9, Kincardine Ontario,
Being approIimately 16.5 aeres as shown on Schedule" B" attached hereto
Acreage Adjustment
1. The Vendor and Purchaser acknowledge and agree that the Purchase Price is calculated at the rate of Eighty Thousand
(S80,OOO.00) Dollars per acre. The Vendor shall, at its expense, anange for a certification ftom an Ontario Land Surveyor
confinning the actual size of the lands being acquired by the Purchaser, and the Purchase Price shall be adjusted based on
the actual acreage of the Property, multiplied at the rate ofEigbty Thousand (SgO,OOO.oo) Dollars per acre. It is agreed
between the Purchaser and the Vendor thai the first deposit shall be non-refundable, to be credited to the Purchaser on the
successful completion of the purchase, or forfeited by the Purchaser at the rate of One Thousand ($1,000.00) Dollars per
acre for any acres less than 16.5 acres not purchased by the Purchaser, except for any acres that are excluded ftom the
transaction at the instance of the Municipality.
Restrü:JJve Covenants
2. The Purchaser acknowledges that the Property is subject to the following restrictive covenants:
(a) a restrictive covenant in favour of 1330204 Ontario Inc. which prohibit the use of the Property for retail food
outlets (Instrument No. 347146); and
(b) restrictive covenants in favour of Canadian Tire Real Estate Limited which prohibit the use of the Property for the
sale of automotive parts and supplies, an automobile service station or gas bar, a sporting goods store, a hardware
store, a plumbing supply store or electrical supply store, a paint and wallpaper store, or a horticultural nursery or
garden centre, but which do not prohibit any department store, such as but not limited to Wa1 Mart, Zellers, the
Bay, and Batons, automobile dealerships, and retail food outlets (Instrument No. 345510).
Servked Land
3. The Vendor shall, at its sole cost and expense, install all services external to the Property, including hydro, water, sanitary
sewers, stonn sewers, traffic signals, municipal roads and street lighting, which are necessary and required in connection
with the Purchaser's proposed development of the Property for retail, service and commercial uses. The external services
shall be brought to a location adjoining the Purchaser's Development, as herein defined, at a location to be settled by the
parties, acting reasonably. The Vendor shall use its best efforts to comply with this obligation in a timely manner and the
Purchaser shall cooperate with the Vendor in the Vendor's service design and tendering process.
Condition Regarding Adjoining Lands
4. This Agreement is subject to and conditional upon satisfaction of the following conditions relating to the adjoining lands:
(a) upon the Purchaser, within ninety (90) days of execution of this Agreement by both parties, entering into an
Agreement of Purchase and Sale with Reid's Heritage Homes Ltd., or its designate, for the acquisition by the
Purchaser of certain lands which are to be developed for commercial purposes (the "Adjoining Commercial
Lands"), such agreement to be on such terms and conditions as are acceptable to the Purchaser in its sole
discretion. The Purchaser shall notify the Vendor in writing that this condition has been satisfied within ninety
(90) days of the execution of this Agreement by both parties;
(b) upon all of the conditions of the Agreement of Purchase and Sale with Reid's Heritage Homes Ltd. being satisfied
or waived by 1he Purchaser on or before February 28, 2006.
The Property being acquired by the Purchaser under this Agreement, and the Adjoining Commercial Lands, are herein
referred to collectively as the "Development' or the "Development Lands".
Development Conditions
5~ This Agreement is subject to and conditional upon the following conditions being satisfied on or before February 2g,
2006:
(a) upon the Purchaser fmalizing binding lease agreements with its proposed Tenants for the Development, under
tenns and conditions satisfactory to the Purchaser in its sole discretion. The Vendor agrees and acknowledges thai
the Purchaser will not proceed to satisfY any other Condition(s) contained in this Agreement until such time as the ð
Purchaser has secured the aforementioned Tenants. The Purchaser must also be satisfied with the construction
cost of the buildings and the site improvements, and with the overall viability of 1he proposed Development;
Kincardine Offer to Purch Hgwy 21 Morch 15 2005 - fiml
·
(b)
upon the Purchaser obtaining the necessary Rezoning, Site Plan Approval, Development Agreements, Building
Permits, etc., that may be required by the Municipality and/or any other regulatory body, and that all are available
to the sole satisfaction of the Purchaser, allowing for the construction and development of the Purchaser's
proposed commercial/retail development. The Purchaser acknowledges that the Vendor has a duty to consider all
rezoning and site plan approval matters in a fair and open manner pursuant to the provisions of the Planning Act
and that it cannot fetter its discretion to grant or deny such applications in advance of that consideration. The
Purchaser also acknowledges that the Vendor's Chief Building Official is subject to a statutory duty under the
Building Code Act to ensure that building permit applications are in conformity with all applicable law. The
Purchaser agrees that it shall have no claim against the Vendor for any decisions that the Municipality or its Chief
Building Official make or fail to make under the Planning Act or the Building Code Act, respectively, in respect
of the Property or the proposed development;
(c) upon the Purchaser being satisfied that there are no contaminations existing in the soil, and that the bearing
qualities of the soil are sufficient for the purposes of the erection of the structures for which plans shall be
submitted to the Municipa1ity. The Vendor agrees to provide any soil reports etc., that may be in its possession.
The Purchaser, its servants and agents, shall have the right to enter upon the lands herein after acceptance of this
Agreement, to make soil tests, and the Purchaser shall restore the lands to their original state immediately
following the completion of such tests.
Responsibility lor ~Zoning, Ek:.
6. The Vendor shall be responsible at its expense for the re-zoning of the Development Lands. In the event that any rezoning
is approved and subsequently appealed to the Ontario Municipal Board, the Vendor shall be responsible for responding to
such appeals and the parties shall share equally in the cost of such process. The parties agree to consult with each other
prior to responding to any appea1 on the conduct of the response to the appeal.
Wølver olConditlons
7. The Purchaser shall have the right to waive any or all of the foregoing Conditions, in writing, as contained in this Schedule
"A" in whole or in part, at any time prior to the expiration of the period of time as aforesaid. If the Purchaser does not
waive the Conditions in writing, and is not satisfied to his sole and absolute discretion with the foregoing Conditions, prior
to the expiration of the period of time as aforesaid, this Agreement shall be null and void and the Deposit paid hereunder
shall be returned without deduction, and in such event neither party shall be liable to the other for any loss, costs or
damages. The Property which is the subject of this Agreement is shown as Areas "E" and "F" on Schedule "B" to this
Agreement. The lands shown as Area "A", "B", "C" and "0" do not form part of the lands that are the subject of this
Agreement and are currently planned for use as a forestry reserve, future road expansion, visitor information centre and
stormwater management pond, respectively. If the Purchaser's purchase and sale arrangements with Reid's Heritage
Homes Lid., permit it to provide for all or some of these planned uses on the adjacent lands to the east, the parties may
enter into further negotiations with respect to these additional lands.
Closing
8.] Notwithstanding the date set for Closing of this ttansaction in Clause 5 of the ftont page, the Vendor acknowledges and
grants to the Purchaser an accelerated closing, if the Purchaser so requests. To accelerate the Closing, the Purchaser shall
give the Vendor twenty (20) days advance written notice of the Purchaser's desire to close early.
The Corporation of the Municipality of Kincardine
Per:
Name: (Purchaser)
I Have Authority To Bind The Corporation
'"
fIA~ /ð) H(H
Per:
ßJJ-.æ ~.
,
Per:~'L-. ~;? "Ç' " ^^ ~
We Have Authority To Bind The Corporation
~~ .re "--L_:~ Oç
Kincardine Offer to Plrch Hgwy 2t March 15 2005 - final
'. '
SI"REDIJI.1I:· B·
To I. A¡reemeat of I'IIrcIIIN lAd SIde
":;
But Side JIIcbwIJ " 21 s..tII of BJahW8J. 9. KJacanIIDe OatarJo. :
BeIu IPpromutllye _ II ùowa OA ScIIeclllle· B· Ittadlecl hereto "'\..
16.S',
Schedule\ B
~ t@JëA"kp-mi
.............,...
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~r: Charcomp IaftlÚDlIIIl1I LImIted
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KI.-dI.. Offer to Purch Hgwy 21 Marek 09 2005
AMENDING AGREEMENT
To An Agreement Of Purchase And Sale
Between
Purchaser:
Charcomp Investments Limited
Vendor:
The Corporation of the Municipality of Kincardine
Property:
East side of Highway Inl South of Highway #9, Kincardine, Ontario
Being approximately 16.5 acres as shown on Schedule "B" attached hereto
The Purchaser and Vendor herein agree to the following Amendment regarding the above referenced
Agreement of Purchase and Sale:
As per Schedule "A", Paragraph 4. (b) to the Agreement, DELETE the following:
4. (b) upon all of the conditions of the Agreement of Purchase and Sale with Reid's
Heritage Homes Ltd. being satisfied or waived by the Purchaser on or before
February 28, 2006.
Å!'m
As per Schedule "A", Paragraph 5 to the Agreement, DELETE the following:
5. This Agreement is subject to and conditional upon the following conditions being
satisfied on or before February 28, 2006:
AND INSERT
4. (b)
upon all of the conditions of the Agreement of Purchase and Sale with Reid's
Heritage Homes Ltd. being satisfied or waived by the Purchaser on or before
J!IIIø~.3996. ~.;.~ tlJ..4..I.
rn c....t 'l. 0 , "2. 00 (,a /"'-'"
AND
5.
This Agreement is subject to and conditional upon the following conditions being
satisfied on or before J~ ~ :s cV'L-- tJM j)
Me..' ~ 0, '2-0o£a ~
All other dates for performance as contained in the Agreement of Purchase and Sale
i.e. further conditions, title inspection and closing, shall be adjusted accordingly.
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 exteuded or abridged by an agreement in writing signed by
the Vendor and the Purchaser.
ALL OTHER TERMS AND CONDITIONS IN THE AFOREMENTIONED AGREEMENT OF
PURCHASE AND SALE TO REMAIN THE SAME.
Dated at i. ,rl ¡....,)~ thisl.]1A day of JI(ll r.u. "Ý
SIGNED, SEALE]) and DELIVERED in the presence of:
,2006
Charco7\. Investments Limited
per: AJ~? Jill( 2'7 /tJC>
(purchaser)
I Have Authority To Bind The Corporation
Dated at K.","~ e~ ð"....., this , '~dayof ~ b r w . r -,I ,2006
SIGNED, SEALED and DELIVERED in the presence of:
The Corporation of the Municipality of Kincardine
per:_ \,~L- b~?:....""",.^^~
(Vendor)
I Have Authority To Bind The Corporation
per: ßJ.L-t. ~
(Vendor) .
I Have Authority To Bind The Corporation