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HomeMy WebLinkAbout80-71 . . . THE CORPORATION OF THE TOWN OF NEWCASTLE BY-LAW 80-71 Being a by-law to authorize the entering into an Agreement of Purchase and Sale with Ontario Hydro with regard to the Base Line Community Centre The Council of the Corporation of the Town of Newcastle hereby ENACTS AS FOLLOWS: That the Mayor and Clerk are hereby authorized to execute on behalf of the Corporation of the Town of Newcastle and seal with the Corporation Seal an Agreement between Ontario Hydro and the said Corporation dated the f 1)/- day 0 f fr~ 1980, which is attached hereto as Schedule "A". Read a first and second time this 10th day of June 1980. Read a third and final time this 10th day of June 1980. ;t' Garnet B. Rickard :,..~:f?4 ~~/ Mayor Joseph M. Clerk If->-C v~~ McIlroy // f . /j ,/ /1 -c;.; ,_~ . c/ .r I Y ~~_~-"~~~i~t~;'~~~'~~~: :::- --r~;~~"~ "...Oi......-.-.'^.....lII:I<t-...;.':t.,..iII".'(..,. _.....,~,,~, Ii . . . .... . ,vi' - f ,. . 5 c it f- (J U L ,~ ,. ~ 11 ~ Lx- .~~ 9671 . AGREEMENT OF PURCHASE AND SALE I/WE . .1h.e. ~~r.P~r8;.,t.i~~ .of. ~h.e.1o.wp. qf. ~~"ic.a~~l.e. . . . . . . . . . . . . . . . . . . . . . . . .._ . . ... of Town . f Newcastle . the ............... 0 . . . . . . . . . . . . . · . · . · .. J.n the Reldonal Municioali ty . .~ . . . . . . . . . i . . of .~~r~~~.............. (as vendors) hereby agree to and with Ontario Hydro (as purchaser) to sell all and singular the premises situate in h or.k'Y~....'<l.v.srttloyuvlSx Town ot NewrastJ-p 1'n the Reeional Municip.ality. t e ~VW'I1..{liIIlI..Dl'.J\JIb . #' v'.. .'~ fI".. .. It...... . . fP. · · . · · · · · · · · · · · · · · · · · · of . ~~r~~~. . . . . . . . . . . . .. (herein called "the real property") described as follows: '. Part of Lot 21, Concession 1, ,Town of Newcastle and shown' as Part 2 on Plan 213/ 2l4TD26300Z, and registered in the Land Registry Office for the Registry Division of Newcastle as No. 88192. . at ,the price or sum of EIGHTY-FIVE THOUSAND $85,000.00 Dollars. as follows: Ten percent of the purchase price by cheque to the Vendor's Solicitor as a deposit upon acceptance of this Agreement of Purchase an4 Sale by the Purchaser to be held in escrow until completion of this sale and the balance of the purchase price by cheque, on closing~ to the Vendor, subject to adjustments. The Purchaser reserves the right to assume any existing mortgages registered against the real property if it so desires and adjustment of the balance due on closing will be made accordingly if any mortgages are assumed. . The Vendor,~cknowledges and agrees that the purchase price herein includes compensation in full for all interests in land (which interest shall not merge in'the fee upon completion of the Purchase and Sale herein) arising out' of an expropriation by, Ontario Hydro by virtue of the expropriation registered as Instrument Number ~8}~~..... and that any monies paid by Ontario Hydro with respect to the said expropriation shall be deducted from the purchase price herein, and possession of the rights expropriated shall be granted by the Vendor upon acceptance of this Agreement of Purchase and Sale by the Purchaser. The Vendor c~venants and agrees to execute a Release with respect to compensation payable by virtue of the sa~d expropriation and to obtain Releases from such other owners as defined by The ~xpropriations Act with respect to compensation payable therefor. The following items, the property of the Vendor, shall be included in this sale for the price above mentioned-: - NOT APPLICABLE - " ,//// r. r.......... ...&;;..~,- ;.;.'..;;--......... ~'.'-" ""'~~~~.".1I:~.'*<;i~,'{..i"i'.;'.~.;..:.~-~'" ~ ~'"'~"......_.,, "" , -"- -----ill "'-"'~JriIIl""'~--;.,;,v- . ~'~ ~l'-"'" -"""'01>;';::";'''-'' "",,' '-';.6 . ,- . .' .:." . ....- ., . '" ~;'/ - 2 - . This Agreement shall be conditional upon the Vendor, at his own expense, complying with the provisions of the Planning Act and any amendments thereto. . PROVIDED'the title is good and free from all encu~brances, ex~ept local rates, and except as aforesaid; said title to be examined by the Purchaser at its own expense, and the Purchaser is not to call for' the production of any title Deed, Abstract of Title, Survey, Proof or Evidence of Title, or to have furnished any copies thereof, other than those in Vendor's possession or under his control. . Provided the same have been complied with, the Purchaser accepts the property subject to municipal requirements, including building and zoning by-laws, and to restriction~ and covenants that run with the land.' The Purchaser ,to be allowed up to the t~e of closing to investigate the title at its own expense, and if within that time he shall furnish the Vendor in writing with any valid objection to the title which the Vendor shall be unable or unwilling to remove, and which the Purchaser will not waive, this Agreement shall, notwithstanding any intermediate acts or negotiations, be null and v~id and the deposit money returned to the' Purchaser without interest and the Vendor -shall not be liable for any costs or damages. Save as to any valid objection so made within such t~e, the Pu~chaser shall be conclusively. deemed to have accepted the title of. the' Vendor to the real property. _ \ , , . This Offer shall,be accepted by the Purchaser by ~~r~~.VJ.!~8r. 19 ~~. otherwise void, and may ,be accepted by a letter delivered to the Vendor or mailed postage prepaid and registered, addressed to the Vendor and deposited in a post office on or before the aforesaid date, and sale to be completed' on or before the ... ~2~h. day of .~u.n~............ .19 ~o.. on which date vacant p~ssession of the said premises is to be given to -the Purchaser, or he is to accept the present 'tenancies and to be " entitled to the receipt of the rents and profits thereafter. This , Offer, when accepted, shall constitute a binding contract of purchase Bnd sale-and-time'-in all-respects-shall be the essence of this Agreement. It is agreed that there is no representation, warranty, collateral 4IJagreement or condition affecting this Agreement or the real property or supported hereo)"u otner than as expressed herein in writing. Until completion of sale, all buildings and equipment on the property shall be and remain at the risk of the 'Vendor until closing_" and the Vendor will hold all policies of insurance effected on the property and the proceeds thereof in trust for the parties hereto, as ' .' their interests may appear. In the event of damage ~o the said buildings and equipment before the complet~on of this transaction, the Purchaser shall have the right to elect- to take such proceeds and complete the purchase, or cancel this Agreement, whereupon the Purchaser shall be en~it1ed to the return without interest of all monies theretofore paid on account of this purchase. I ~ \ --------.':. (: . - ::s!'" ......' ;;....c.;;.di . ." ,-~.-----, '_'~_""'_"~"'~~-"""~i'''''''',,,,,,-,,,,,,, ,,,,.~','.,=n'" . ,- .. . " 1~. .. ?; .. r! - 3 - .. Unearned Fire Insurance Premiums, Fuel, Taxes, Interest, Rentals and all Local Improvements and Water Rates to be proportioned and allowed to date of completion of sale; the Deed or Transfer shall, save for the Land Trans,fer Tax Affidavits, be prepared in registrable form.at the.expense of the Vendor and any mortgage at the expense of the Purchaser. Time shall be, in all respects, of the essence hereof. Vendor covenants and agrees that he will, on or before closing provide to Purchaser either the Certificate of the Minister of Revenu~ of Ontario that no lien is claimed under The Land Speculatio~ Tax Act, 1974, or an Affidavit in prescribed form that this tra~sfer'is exempt from said tax pursuant to The Act. . ' '. . Any tender of documents or money hereunder may be inade upon the solicitor acting for the party on whom tender is desire~ and it shall be sufficient that a negotiable cheque may be tendered: instead of cash. It is further agreed and ,understood the present use of the facilities by "the Base Line Community shall continue until May 1, 1981 and thereafter from time to time according to Ontario Hydro's' Construction Sche9ule. . It is further agreed ,and understood that the Vendor has the right to r~move.t~e c~ment plaq~e located above the south entrance, and a bottle containin h~stor~c art~facts bel~eved to be located in or around the f. ~. during demolition. . cornerstone 0 th~s bu~ld~ng '. Whenever the singular or masculine are used in this Offer, they shall mean and include the plural, feminine and neuter if the context-'or-,the parties hereto.'so - require. ' . DATED ,at '~~'. ': this II~ day of' h' 19~O in the presence of ) IN WITNESS WHEREOF have hereunto ) set hand and seal )~GJ;C:::~~ _,,: ;~, ,:,:~ ~ ) .- ) . ,.// \.. ).~A~c"~ ) " Vendor ) , ) ) ) ) ) ,," Iii I...:. ..i SIGNED, SEALED AND DELIVERED t1 t1.'fC> ~ C. Lea.. L-..-".