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HomeMy WebLinkAbout97-274 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NUMBER 97-274 being a By-law to authorize the execution of an Agreement of Purchase and Sale of the Orono Armories lands WHEREAS the Council of the Municipality approved the report dated at its meeting of December 15, 1997; NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: 1. THAT the Mayor and the Clerk are authorized on behalf of the Municipality to execute an Agreement of Purchase and Sale with 760719 Ontario Limited respecting the Orono Armories lands substantially in the form of the revised Agreement of Purchase and Sale dated December 15th, 1997 deposited with the Clerk and to execute any further implementing documents necessary to complete the transaction. BY-LAW read a first time this 15th day of December, 1997. BY-LAW read a second time this 15th day of December, 1997. BY-LAW read a third time and finally passed this 15th day of December, 1997. Mayor Ci r -- — t SCHEDULE "A" AGREEMENT OF PURCHASE AND SALE BETWEEN 760719 Ontario Limited O/A Apogee Productions as Purchaser and The Corporation of the Municipality of Clarington as Vendor for the real property known as 6 Park Street, Orono 1. Wherever and to the extent that any provision of this Schedule "A" conflicts with any provision of the remainder of this Agreement of Purchase and Sale, the respective provision of this Schedule "A" shall prevail. 2. The property to be conveyed is described as Part of Village Lots 7 and 8, Block 'O', C. G. Harming's Plan of Part of Lot 28, Concession 5, Geographic Township of Clarke, Municipality of Clarington described as follows: COMMENCING at the north-west corner of the intersection of Park and Church Streets; THENCE northerly along the westerly boundary of Church Street for the distance of one hundred feet(100'); THENCE westerly on a line parallel with Park Street for the distance of fifty feet (50'); THENCE southerly parallel to the westerly boundary of Church Street to a point in the northerly boundary of Park Street, which said last mentioned point is fifty fee (50') from the place of beginning; THENCE easterly along the northerly boundary of Park Street to the place of beginning. 3. The Purchaser acknowledges that it has inspected the buildings on the property and accepts the existing conditions thereof and releases the Vendor from any claims relating to such existing conditions and this release shall survive the completion of this transaction. 4. The Vendor shall also grant to the Purchaser an easement to permit the Purchaser, at the Purchaser's cost to maintain, repair or replace the existing septic tank serving the Property which existing septic tank is located on abutting property owned by the Vendor until such time as municipal sanitary sewer service is available. 5. The Purchaser acknowledges that the title to the Property is encumbered by the registration of Instrument No. 16320 being a mortgage made by the former Township of Clarke, as mortgagor and Her Majesty the Queen in Right of Canada represented by the Minister of Defence Production acting through Crown Assets Disposal Corporation registered on October 19, 1954. On closing the Vendor shall not be required to discharge this Instrument but shall deliver to the Purchaser, a statutory declaration of an Official of the Vendor that to the best of the knowledge and belief of such Official after conducting a review of the records of the Vendor that no claim for payment under the mortgage has been made in excess of twenty years. 6. Substantial damage means any damage for which the estimated cost of repair exceeds$10,000.00. 7. The Purchaser represents and warrants that it is registered under the Excise Tax Act (Canada) for the collection of the Goods and Services Act and That its registration number is R123978769. On closing the Purchaser shall deliver a certificate of an officer of the Purchaser confirming such registration and no Goods and Services Tax shall be collected by the Vendor in respect of the sale of the property to the Purchaser. The purchase price does not include any Goods and Services Tax to the extent that such tax is exigible.