HomeMy WebLinkAbout86-114
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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW NUMBER 86- 114
being a by-law to authorize execution of an agreement
of purchase and sale with W. E. Roth Construction
Limited (Block 74 Plan R.P.IOM-766 Darlington)
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 of Purchase and Sale between W. E. Roth
Construction Limited and the said Corporation. in
respect of the sale of Block 74. R.P.IOM-766 (Darlington).
a copy of which is attached as Schedule "X".
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By-law read a first and second time this 28th day of
July 1986
By-law read a third time and finally passed this 28th day
of July 1986.
l
Mayor
, tw' O~...
Clerk
AMENDED MARCH 1982 Dye&Durham Co.Limited,160 Bartley Drive,Toronto
Form No.116
OFFER TO PURCHASE
AGREEMENT OF PURCHASE AND SALE
►�1vE.. W.E. Roth Construction Limited
........................................................................................................................... .............................. ................................... . .......................................................
of the..............CIty....................................of..........Oshawa..............................................(as purchaser) having inspected the property hereby agree to and with
The Corporation of the Town of Newcastle
.....................................................................................................................................................................................................................................................................................
(as vendor),through ..................... nt.......................................................................................................................................................... Agent for vendor
West Cherry Blosson Drive
to purchase all and singular the premises siteate on the..........................................side of............................................................................................................................
Inthe................T1 W. .....................................................................................................................of.....................MWq q le....................................................................
known as.............................................. property")
......................................... ...............................................................1..............................................(herein called"the real
O meter8••,,,,,,,,,,,,,•,.,••,,,,,,more or less,b p irregLllar ..........more or less,
having frontage of about...................$J..$........................ y a depth of about
........the whole...of...Block..�io. ...........................................according to Plan No. ...................1OM-766.........................................................
Registered In the Registry Office Newcastle No. 10 at .Bowmanville
.......................................................................................................................................................................................................................
at the price or sum of...................Sixty...Thousand........................... ........................................................................ Dollars($....60,000700
as follows:.:..............Five...111011si;nd ...... ( 5 000.00 )
Dollars $.......5!.
cash or certified cheque to the said PUQMendor on this date as a deposit to be held in trust pending completion or other termination of this Agreement,
and to be credited on account of purchase money on closing, and covenant, promise and agree to
pay the balance of the purchase price in cash on closing to the Vendor, subject to
the usual adjustments.
Schedule A attached hereto forms part of the within agreement of purchase and
sale.
All fixtures shall remain with the property,except:
and the following chattels,the property of the Vendor,shall be included in this sale for the price above-"•oned: 6
I<. ff
This Offer shall be irrevocable by the Purchaser until......4'00 P.M.on the........................day of..... -..............19.....after which
time,if not accepted,this Offer shall be null and void and the deposit returned to the Purchaser without interest or deduction.
PROVIDED the title is good and free from all encumbrances,except as aforesaid,and except local rates and minor easements for hydro,gas,telephone or like services to
the property;said title to be examined by the Purchaser at his own expense,and the Purchaser not to call forthe production of any title deed,abstract of title,survey,proof
or evidence of title,other than those in Vendor's possession or under his control;and provided the same have been complied with,the Purchaser to accept the property
subject to municipal requirements,including building and zoning by-laws,rriinoreasements as above-mentioned,and to restrictions and covenants that run with the land.
The Purchaser to be allowed.XMWL..closing nce of this Offer to investigate the title at his own expense,and if within that time he
shall furnish the Vendor in writing with any valid objection to the title,or to any outstanding Municipal work orders or deficiency notices affecting the real property,or non-
compliance with zoning by-laws,or that the present use of the property may not be lawfully continued,orthat the buildings on the property may not be insured against risk
of fire,which the Vendor shall be unable or unwilling to remove or correct,and which the Purchaser will not waive,this Agreement shall,notwithstanding any intermediate
acts or negotiations,be null and void and the deposit money returned to the Purchaser without interest or deduction,and the Vendor and the Agent shall not be liable for
any costs or damages.Save as to any valid objection so made within such time,the Purchaser shall be conclusively deemed to have accepted the title of the Vendor to the
real property.
The Vendor hereby consents to the municipality releasing to the Purchaser details of all outstanding Municipal work orders or deficiency notices affecting the real
property.
as hereinafter provided
This Agreement shall be completed orXx t possession of the
real property is to be given to the Purchaser,
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 affected on the property and the proceeds thereof in trust for the parties hereto,as their interests may appear.In the event of damage to the said buildings and
equipment before the completion 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 entitled to the return,without interest or deduction,of all moneys theretofore paid on account of this purchase.
Unearned fire insurance premiums,fuel,taxes,interest,rentals and all local improvements and water rates to be proportioned and allowed to the date of completion of
sale.
Deed orTransfer to be prepared at the expense of the Vendoron a form acceptable to the Purchaser's solicitor,and if a mortgage is to be given back,same to be prepared at
the expense of the Purchaser on a form acceptable to the Vendor and drawn pursuant to the Short Forms of Mortgages Act,Ontario.
This Agreement shall be effective to create an interest in the real property only if the applicable land division provisions of the Planning Act are complied with,and the
Vendor agrees,at his expense,to comply with such provisions and to proceed diligently with the application for such compliance.
The Vendor,on or before completion,will produce evidence that he is not,and upon the completion of the transaction will not be,a non-resident of Canada within the
meaning of the Income Tax Act,or if he is a non-resident,that he will comply with the provisions of Section 116 of the Income Tax Act.
(over)
The affidavits required under The Land Transfer Tax Act shall be prepared by the Purchaser.
This Offer,when accepted, shall constitute a binding contract of purchase and sale, and time in all respects shall be of the essence of this Agreement.
It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement or the real property or supported hereby
other than as expressed herein in writing.
Any tender of documents or money hereunder may be made upon the Vendor or Purchaser or upon the solicitor acting for the party on whom tender is de-
sired, and it shall be sufficient that a negotiable certified cheque be tendered instead of cash.
Each party to pay the costs of registration and taxes on his own documents.
This Offer and its acceptance to be read with all changes of gender or number required by the context.
DATED at Oshawa this 22nd day of July 19 $6
IN WITNESS WHEREOF seal.the Corporate seal of the purchaser
herein and the hands of its proper signing officers in that beh
W.E. ROTH CpNST2UCTI LIMZTED Ze SIGN ED, SEALED AND DELIVERED Per:In the presence of: ....... �/. ! ffi )
.......... y............... ..... ..
Purcbb ser
Willi E. Roth
(Affix Seal)
Purchaser
ME, hereby accept the above offer and its terms, and covenant, promise and agree to and with the above-named Purchaser to duly carry out the same on
the terms and conditions above mentioned, and We hereby accept the deposit of$ 5,000.00 ou or-
hall
e .
The Spouse of the Vendor hereby consents to the sale of the real property and agrees to join in the conveyance thereof.
(Strike out above if not applicable)
DATED at Newcastle this day of July 19 86
IN WITNESS WHEREOF the Corporate seal of the
Vendor Corporation and the hands of its proper signing officers in that behalf.
SIGNED, SEALED AND DELIVERED THE CORPORATION OF THE TOWN OF NEWCASTLE
In the presence of: ..................................................... .......................................................(Affix Seal)
Per: Vee nn dor
(Affix Seal)
Vendor
....................................................................................................................................(Affix Seal)
Spouse of the Vendor
I hereby acknowledge receipt of signed copy of this accepted Agreement I hereby acknowledge receipt of signed copy of this accepted Agreement
of Purchase and Sale. of Purchase and Sale.
...............................................................................Date......................................... ...............................................................................Date.........................................
(Vendor) (Purchaser)
...............................................I............................Date......................................... ...............................................................................Date..........................................
(Vendor) (Purchaser)
Address:................................................................................................................. Address:..................................................................................................................
TelephoneNo........................................................................................................ Telephone No.........................................................................................k...............
Vendor's Solicitor.................................................................................................. Purchaser's Solicitor..............................................................................................
.................................................................................................................................. ..................................................................................................................................
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TM IS SCHEDULE "A" TO THE AGREEMENT OF PURCHASE AND SALE BETWEEN W.E. ROTH
CONSTRUCTION LIMITED, AS PURCHASER, AND THE CORPORATION -0 THE TOWN OF NEWCASTLE,
AS VENDOR FOR THE PROPERTY KNOWN AS BLOCK 74, PLAN 1OM-766, NEWCASTLE.
The vendor herein warants that the said lands shall be zoned on the date of
closing, so as to permit the construction of five detached single family dwellings on
the subject lands, and that building permits will be available for all such
units, it being understood and agreed that the purchaser is relying upon the
above noted warranty in entering into the said agreement.
i
The purchaser covenants to imnediately upon acceptance of the within
agreement to proceed with the preparation of a reference plan required
by the purchaser in order to create the aforesaid five lots, all at the
purchasers expense, and the vendor covenants it it will provide
individual deeds to the purchaser for the conveyances of the said
lands as directed by the purchaser for each of the parts as created on
the said reference plan.
' The purchaser further covenants, that .it�,tne same. is required by ithe Town of
Newcastle, that it will enter into a servicing agreement with the Town of
Newcastle, in order to ensure the proper instalation of all servicing as may be
required to service the five units as contemplated in this agreement, and the
purchaser further confirms that it will pay to the Town of Newcastle, in addition
to the purchase price the normal levies as may be required by the Town
for each single family dwelling unit, in accordance with the normal levy policy
of the Town of Newcastle.
The closing of the within transaction shall take place on the 21st day of
September, 1986, upon which date vacant possession of the property is to be
given to the purchaser herein; provided however that in the event that the
reference plan contemplated herein is not registered by the said 21st day of
September, 1986, then the parties herein do hereby agree, and do hereby extend
the closing of the said transaction to a date being 7 day after notice in writing
has been provided to the vendor that the said reference plan has in fact
been registered. In the event that the said reference plan is not registered
by the 31st day of December, 1986, then this agreement shall be null and void
and all deposit monies paid herein shall be returned to the purchaser
herein forthwith without deduction.
The vendor herein further covenants and agrees that it will co-operate fully with
the purchaser with respect to such reference plan registration and that it will
sign any and all plans applications and the like as may be required by the
Land Registry Office under the provisions of the,Land Titles Act to effect the
registration of the said reference plan.
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