HomeMy WebLinkAbout75-83
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THE CORPORATION OF THE
TOWN OF NEWCASTLE
By-Law No. 75-83
Being a by-law to authorize the sale of' lands to Court ice
Specialty Steels Ltd.
WHEREAS the land hereinafter described is owned by the Corporation of
the Town of Newcastle and is not required for municipal purposes;
AND WHEREAS the Corporation of the Town of Newcastle has agreed to
sell and convey the said land to Court ice Specialty Steels Ltd.;
NOW, THEREFORE, be it enacted and it is hereby enacted as a by-law
of the Corporation of the Town of Newcastle by the Council thereof as
follows:
1. The Corporation of the Town of Newcastle does hereby confirm its
acceptance of the Offer to Purchase submitted by Courtice Specialty
Steels Ltd. dated September 4, 1975.
2. The Corporation of the Town of Newcastle shall sell and convey to
Courtice Specialty Steels Ltd. the land described in Schedule "A"
to this by-law for the sum of $87,720.00 on the terms set out in the
aforesaid Offer to Purchase.
3. The conveyance by the Corporation of the Town of Newcastle to Courtice
Specialty Steels Ltd. shall contain the following covenant and said
conveyance shall be executed by the grantee. The covenant referred
to is as follows:
AND the said grantee COVENAJilTS and agrees to complete the construction
of an industrial building having a floor area of not less than 30,000
square feet exclusive of office space on the above described land
within one year from the date of closing and which building shall be
in accordance with a site plan submitted to and approved by the grantor
prior to construction being commenced. In the event that the said
building is not so constructed within the said period of one year from
the date of closing, then in such event, the ownership of the land
conveyed shall revert to the Grantor upon payment by the Grantor to
the Grantee of 9afo of the purchase price of $87,720.00 less the entire
balance owing on any encumbrances against the property, including the
mortgage being given back to the Town of Newcastle, and the Grantee
shall, at the request of the Grantor and for purposes of greater
assurance, execute a re-conveyance back to the grantor of the said land.
4. The Mayor and Clerk of the Corporation of the Town of Newcastle are
authorized to execute the said conveyance and to affix thereto the
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Corporate seaJ. of' the Corporation of' the Town of' Newcastle and a.ll
of'f'iciaJ.s of' the Corporation are hereby authorized and directed to take
a.ll such steps as are necessary to complete the said saJ.e and conveyance.
By-law read a first and second time this 1- a g;; day of' October, 1975.
By-law read a third time and passed this ! 0 ~ day of' October, 1975.
.~g.;L_/
Mayor
Clerk
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SCHEDULE "A"
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TO
BY -LAW NO. 75-83
Being a by-law to authorize the sale of lands
toCourtice Specialty Steels Limited.
ALL AND SINGULAR that certain parcel or tract
of land and premises, situate, lying and being in the
Town of Newcastle, in the Regional Municipality of Durham,
and being formerly in the Town of Bowmanville, in the
County of Durham, and being composed of part of Blocks 10
and 13, as shown on the Smart Estate Plan by L. H. Shortt,
P.LS. being part of the original Township lot 9 in the
Broken Front Concession of the Geographic Township of
Darlington and which said land is now more particularly
described as parts 4 and 5 shown on a Reference Plan
lOR276 deposited in the Registry Office on December 3, 1973.
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