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HomeMy WebLinkAbout92-42 . THE CORPORATION OF THE TOWN OF NEWCASTLE BY-LAW NO. 92- 42 Being a By-law to authorize the execution of a Lease Agreement with Schleiss Oeyelopment Company Limited for premises situated at 15 Silyer Street, Bowmanyille THE CORPORATION OF THE TOWN OF NEWCASTLE HEREBY ENACTS AS FOLLOWS: THAT the Mayor and the Clerk are hereby authorized to execute, on behalf of the Corporation of the Town of Newcastle, and seal with the Corporate Seal, a Lease Agreement between Schleiss Oeyelopment Company Limited and said Corporation, which is attached hereto and marked Schedule "B", BY-LAW read a first time this 10th day of BY-LAW read a second time this 10th day of BY-LAW read a third time and finally passed this ,1992 February February 10th day of , 1992 ,1992 February C '" ~ SCHEDULE "B" TO BY-LAW 92-~ THIS LEASE made the IO/}./ day of FE.8~ (j,q~j (In pursuance of the Short Forms of Leases Act) ,1992. BETWEEN: SCHLEISS DEVELOPMENT COMPANY LIMITED, a corporation incorporated under the laws of the Province of Ontario hereinafter called the "Landlord" of the First Part - and - THE CORPORATION OF THE TOWN OF NEWCASTLE, herein called the "Tenant" of the Second Part WITNESSES: Inconsideration of the rent reserved hereby and the coyenants contained on the part of the tenant, the landlord hereby leases to the tenant all that portion of Town Lots 42,43, 130 and 131, Block M, John Grant's Plan in the Town of Newcastle in the Regional Municipality of Durham, in the Province of Ontario (herein called the "premises"). TO HOLD the premises for three (3) years, commencing the 1st day of January, 1992. THE TENANT PAYING therefore during the term, the following rent: (a) a rental of One Dollar ($1.00) per year, payable in adyance on the 1st day of January, 1992. 1. TENANT'S COVENANTS (a) Rent - To pay Rent; (b) Taxes - To pay taxes, assessed on or in respect of the premises and any part thereof; (c) Assignment - Not to assign or sublet or part with possession of the premises or any part thereof without leaye, except as hereinafter provided; (d) Leaving premises in good repair - To leaye the premises in good repair, reasonable wear and tear only expected; - 2 - (e) Tenant to' construct parking area - That it will design and construct at its own expense and haye completed in a substantial and workmanlike manner in accordance with the design criteria, specifications, plans and materials prepared by the tenant; (i) paved driveways and parking areas for the parking of motor yehicles; (ii) drainage facilities; (iii) architectural landscaping and planting of trees and greenery (iv) all other structures and facilities required for a parking lot. (f) Supervision - That it will adequately supervise the construction of the parking lot; (g) Inspection - To permit representatiyes of the landlord to inspect the premises at any time; (h) Snow and Ice Remoyal - To clear and remoye snow and ice from all driyeways and parking areas; (i) Liability Insurance - To take out and keep in force during the term of this lease a policy or policies of public liability and property damage insurance acceptable to the landlord providing coverage in respect of anyone accident to the limit of One Million Dollars ($1,000,000.00) which amount shall be subject to actuarial adjustment from time to time, exclusiye of interest and costs, against loss or damage resulting from bodily injury to or death of one or more persons and loss of or damage to property and that such policy will name the landlord as an additionsll insured thereunder and will protect the landlord against all claims for all damages or injury including death to any person or persons and for damage to any property of the landlord or any other public or priyate property arising out of any act or omission on the part of the tenant, its servants or agents and to forward a certified copy of the insurance policy to the landlord upon request. 2, LANDLORD'S COVENANTS The landlord hereby coyenants with the tenant as follows: (a) Quiet Enjoyment - For quiet enjoyment. - 3 - 3. EXTENSION Provided always and it is mutually agreed that at the expiration of the term comprised in this lease the term shall be deemed to be extended for a further perio.d of two (2) years upon the same terms and conditions as are contained in this lease, save only a right of further renewal. During such extension or renewal period the landlord or tenant shall have the right to terminate the lease by giving the other party six (6) months notice in writing of the intention to terminate the lease. 4. FIRST RIGHT OF REFUSAL If the landlord receives a bona fide offer to purchase the premises which' the landlord is willing to accept, then the landlord shall give written notice of such offer to the tenant by sending to it a true copy thereof and the tenant shall have the right during the next sixty (60) business days after the giYing of such notice, by written notice given to the landlord, to elect to purchase the premises for the price and upon the terms and conditions contained in the said offer. If the tenant does so elect, the notice given by it shall constitute a binding Agreement of Purchase and Sale. If the tenant does not so elect, the landlord shall be free to sell the premises on the terms and conditions set forth in the said Offer. If the premises are not sold under the terms of that offer the landlord shall be obliged to submit any further offer to the tenant by giving written notice thereof to the tenant in the manner in this clause provided. Provided however that the landlord may convey the subject lands or assign this lease to any related person or corporation and coyenants to have the grantee or assignee of this lease abide by the terms of this lease. IN WITNESS WHEREOF the parties have hereunto set their hands and seals by the hands of their proper signing officers duly authorized in that behalf. SCHLEISS DEVELOPMENT COMPANY LIMITED Per: THE CORPORATION OF THE TOWN OF NEWCASTLE Per: May r DATED: , jIh, , 1992 SCHLEISS DEVELOPMENT COMPANY LIMITED - and - THE CORPORATION OF THE TOWN OF NEWCASTLE LEASE BOYCHYN & BOYCHYN Barristers and Solicitors 36 1/2 King Street East OSHAWA, Ontario L1 H 7M9