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HomeMy WebLinkAbout97-19 r THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NUMBER 97-19 Being a By-Law to authorize the making of an Extension Agreement between the Municipality of Clarington and Mosport Park Limited, pursuant to the provisions of Section 8 of the Municipal Tax Sales Act. NOW THEREFORE BE IT ENACTED BY THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON: 1. THAT the Mayor and Clerk are authorized to execute on behalf of the Corporation of the Municipality of Clarington an Extension Agreement in the form contained as Appendix A attached hereto provided that the Extension Agreement is executed by all parties thereto on or before February 7, 1997. By-Law read a first and second time this 27th day of January 1997. By-Law read a third time and finally passed this 27th day of January 1997. Mayor Clerk , Appendix "A" THIS EXTENSION AGREEMENT made as of this 7th day of February 1997. BETWEEN: THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON (hereinafter called the Municipality) OF THE FIRST PART - and MOSPORT PARK LIMITED (hereinafter called the "Ratepayer') OF THE SECOND PART WHEREAS: A. The lands and premises affected by this Extension Agreement which are described in Schedule "A" hereto are hereinafter called the "Lands". B. The Ratepayer is the owner of the Lands and at all material times has been and is shown as such on the assessment roll of the Municipality. C. A tax arrears certificate was registered against the title to the Lands in the Land Registry Office for the Land Registry Division of Durham (No. 40) as Instrument No. D475934 on August 8, 1996. A copy of the tax arrears certificate is contained in Schedule "B" hereto. D. The Ratepayer has agreed that the amount of the tax arrears shown in the tax arrears certificate referred to in Recital C is correct. E. The Municipality has received payment of the following amounts pursuant to an extension agreement under the Municipal Tax Sales Act, R.S.O. 1990 c. M-60 (the "Act") dated September 16, 1996 authorized by By-Law 96-155 of the Corporation of the Municipality of Clarington, the amounts of one hundred thousand dollars ($100,000.00) on September 16, 1996 and $16,100 on October 15, 1996. This extension agreement terminated on November 15, 1996. F. This Extension Agreement is made pursuant to the provisions of Section 8 of the Act and is authorized by By-Law No. 97-19 passed on January 27, 1997, a copy of which is contained in Schedule "D" hereto. (to be annexed when enacted). By-Law 97-19 was passed following the approval by the Council of the Corporation of the Municipality of Clarington of report TR-4-97. NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in consideration of the premises and the covenants hereinafter expressed, and the sum of two dollars ($2.00) of lawful money of Canada, now paid by each Party to the other, (the receipt of whereof by each Party is hereby acknowledged), the Parties hereto covenant and agree to and with each other as follows: 1. In this Extension Agreement the term "cancellation price" has the same meaning as it has in the Act. 2. The Ratepayer represents and warrants to the Municipality that each of Recitals A to F of this Extension Agreement is correct. 3. The Ratepayer acknowledges and agrees that the amount of the tax arrears shown on the Tax Arrears Certificated contained in Schedule "B" is correct. Page 2 4. The period of time in which the cancellation price is to be paid is extended for the period during which this Extension Agreement subsists. This Extension Agreement shall subsist so long as each of the payments set out below is made to the Municipality in accordance with this Extension Agreement on or before the dates set out below opposite the respective amounts to be paid: :. :; ro. ... :::::....:::.::::. ]? t ..... 66,664.00 February 6, 1997 19,500.00 March 15, 1997 19,500.00 April 15, 1997 19,500.00 May 15, 1997 19,500.00 June 15, 1997 19,500.00 July 15, 1997 19,500.00 August 15, 1997 The amount which is equal to the September 15, 1997 balance of the cancellation price required to be paid pursuant to the Act. In addition, the Ratepayer agrees to pay the realty taxes levied as they come due for the period commencing January 1, 1997 and ending September 30, 1997, which shall be applied by the Municipality in accordance with the Municipal Act, R.S.O. 1990, c.M.45. Nothing contained in this Extension Agreement derogates from the obligation of the ratepayer to pay realty taxes levied as they come due after this Extension Agreement is terminated or ceases to subsist for the purposes of the Act or the rights of the Municipality to enforce payment of same. All payments shall be made by certified cheque, money order or cash delivered to the Municipality's Treasurer at the Municipal Administrative Centre, 40 Temperance Street, Bowmanville, Ontario during the Municipality's regular business hours. 5. In the event that any of the payments referred to in paragraph 4 of this Extension Agreement is not made in accordance with paragraph 4, thereupon this Extension Agreement shall cease to subsist for the purposes of the Act. 6. The Parties acknowledge that any person may pay the cancellation price at any time. 7. This Extension Agreement shall terminate upon payment of the cancellation price by any person. 8. The Ratepayer shall not assign this Extension Agreement to any person and shall not register this Extension Agreement against the title to the Lands. 9. Each of the Municipality and the Ratepayer acknowledges that the registered legal description of the Lands contains a reference to the road allowance between Lots 34 and 35 in the 9th Concession of the Geographic Township of Clarke and that such reference shall not be construed as either an acknowledgement of nor a derogation of any right to assert a claim to ownership of such road allowance. Page 3 10. Time shall be of the essence of this Extension Agreement. IN WITNESS WHEREOF the Municipality has hereunto affixed its corporate seal by the hands of its proper officers duly authorized in that behalf and the Ratepayer has hereunto set his hand and seal the day and year first above written. SIGNED, SEALED AND THE CORPORATION OF THE DELIVERED MUNICIPALITY OF CLARINGTON Mayor: Diane Hamre Clerk: Patti Barrie MOSPORT PARK LIMITED Name Title SCHEDULE "A" THIS SCHEDULE IS SCHEDULE "A" to the Agreement which has been authorized and approved by By-Law 97-19 of the Corporation of the Municipality of Clarington enacted and passed the 27th day of January, 1997. LEGAL DESCRIPTION OF LANDS ALL AND SINGULAR those certain parcels or tracts of lands and premises situate, lying and being in the Town of Newcastle, in the Regional Municipality of Durham (formerly in the Township of Clarke, the County of Durham) being more particularly described as follows: FIRSTLY: All of Lot 33 in the 9th Concession of the said Town of Newcastle (formerly Township of Clarke), save and except the south quarter thereof; SECONDLY: All of Lot 34 in the 9th Concession of the said Town of Newcastle (formerly Township of Clarke); THIRDLY: All of Lot 35 in the 9th Concession of the Town of Newcastle (formerly Township of Clarke), save and except those parts thereof more particularly described as follows: PARCEL I: Commencing at a point in the Western boundary in said lot, distant, 4,606.80 feet (69 chains 80 links). Northerly from the South West angle of said Lot; THENCE Easterly parallel to the Northern limit of said Lot a distance of 910.80 feet (13 chains 80 links); THENCE Northerly parallel to the said Western limit of said Lot 28.38 feet (43 links); THENCE Easterly parallel to the said Northern limit of said Lot 1,195.92 feet (18 chains 12 links) to a point in the fence marking the Western boundary of an unopened allowance for road between Lots 34 and 35; THENCE Northerly in and along said fence and the said Western limit of allowance for road a distance of 1,885.62 feet (28 chains 57 links) to the North East angle of Lot 35; THENCE Westerly in and along the Northern limit of said Lot 35 a distance of 2,106.72 feet (31 chains 92 links) to the North West angle of said Lot; THENCE Southerly in and along the said Western limit of said Lot 1,885.62 feet (28 chains 57 links) to the Point of Commencement. PARCEL II: Commencing at the Town Line at the south-westerly angle of said Lot; THENCE Easterly 910.80 feet (13 chains 80 links) along the road between the 8th and 9th Concessions of the said Town of Newcastle (formerly Township of Clarke); THENCE Northerly parallel with the Town Line 4,606.80 feet (69 chains 80 links); THENCE Westerly parallel with the Concession Line 910.80 feet (13 chains 80 links) to the Town Line; THENCE Southerly 4,606.80 feet (69 chains 80 links) along the Town Line to the Point of Commencement. FOURTHLY: That part of Lot 35 in the 9th Concession in the said Town of Newcastle, containing by admeasurement 24.9 acres be the same more or less, described as follows: SCHEDULE "A' (continued) COMMENCING at the point of intersection of a fence running Southerly with the Northerly limit of said Lot 35, said point distant Westerly in the said limit Five hundred and ninety-three feet (593') from the North-easterly angle of said Lot 35; THENCE Easterly along the Northerly limit of said Lot 35 a distance of Five hundred and ninety-three feet (593') to the North-easterly angle thereof; THENCE Southerly along the Easterly limit of said Lot 35 a distance of Eighteen hundred and eighty-five and five tenths feet (1,885.5') to a point in the line of a fence running Westerly; THENCE Westerly along the said fence in a straight line a distance of Five hundred and fifty- three and four tenths feet (553.4') to a point in the line of a fence running northerly, said point distant Eighteen hundred and ninety-six and five tenths feet (1,896.5') from the Point of Commencement; THENCE Northerly along the said fence in a straight line a distance of Eighteen hundred and ninety-six and five tenths feet (1,896.5') to the POINT OF COMMENCEMENT. FIFTHLY: The Allowance for Road between Lots 34 and 35 in the 9th Concession of the said Town of Newcastle (formerly the Township of Clarke) extending from the Southerly limit of the said 9th Concession to the Northerly limit thereof. SCHEDULE "B" THIS SCHEDULE IS SCHEDULE "B" to the Agreement which has been authorized and approved by By-Law 97-19 of the Corporation of the Municipality of Clarington enacted and passed the 27th day of January, 1997. TAX ARREARS CERTIFICATE [ATTACHED] SCHEDULE "C" THIS SCHEDULE IS SCHEDULE "C" to the Agreement which has been authorized and approved by By-Law 97-19 of the Corporation of the Municipality of Clarington enacted and passed the 27th day of January, 1997. (Insert certified copy of By-Law 97-19 when passed) BY-LAW NO. 97-19