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HomeMy WebLinkAboutPSD-054-10 AddendumUnfinished Business ~~~~~ REPORT Leadeng the Way PLANNING SERVICES Meeting: GENERAL PURPOSE AND ADMINISTRATION MEETING Date: September 27, 2010 Resolution #: ~f ~F~~f93-(0 By-law #: d'0/p-/may Addendum to Report #: PSD-054-10 File #: RE 6.13.6 Subject: SALE OF SURPLUS PROPERTY - 182, 186, 190, 194 GEORGE REYNOLDS DRIVE, FORMER TRUCES ROAD FIRE STATION SITE RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Addendum to Report PSD-054-10 be received; 2. THAT an Amending By-law to By-law 2010-047 be passed to authorize the sale and transfer of the lands identified as Parts 2, and 4, Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, and 190 George Reynolds Drive, Courtice to 2055979 Ontario Inc.; 3. THAT all other conditions set out in PSD-054-10 and the Purchase and Sale Agreements with regard to 182 and 190 George Reynolds Drive will be assumed by 2055979 Ontario Inc. and remain in force; and 4. THAT all interested partied to Addendum Report PSD-054-10 be notified of Council's decision. f ~ ~ Submitted by: ~ ~`~~ Reviewed b~' `~'^"`~` `- ~'v`~- a e Langm Id, FCSLA, MCIP Franklin Wu, Acting Director of Planning Services Chief Administrative Officer FL4sn 21 Sept 2010 CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T (905)623-3379 F (905)623-0830 ADDENDUM TO REPORT NO.: PSD-054-10 PAGE 2 1.0 BACKGROUND 1.1 In April 2010 Council accepted the offers made by 152950 Ontario Inc., a company owned and controlled by Ken Hoy (Stonefield Homes) to purchase the 4 lots on George Reynolds Drive. The site which was formerly the Trulls Road Fire Station property is located at the northeast corner of Trulls Road and George Reynolds Drive in Courtice (Attachment 1). Council had declared the site surplus in September of 2006. 1.2 In October of 2008 Council approved a Zoning By-law amendment to rezone the developable portion of the site to residential use, and to rezone the area to be environmentally protected as determined by the Conservation Authority. 1.3 During 2009 the necessary services to these lots were included in one of the Engineering Services Departments contracts so that the lots would be ready for sale in spring of 2010. 2.0 PURCHASE OF THE LANDS 2.1 On March 24, 2010 Offers were submitted to purchase the four lots. 1529250 Ontario Inc. (Stonefield Homes) offered to buy 190 George Reynolds Drive for $115,000; $100,000/lot has been offered for the two centre lots and $95,000 has been offered for the corner lot abutting Trulls Road and George Reynolds Drive. Three other bids were also submitted however, 1529250 Ontario Inc. (Stonefield Homes) was the highest offer. The bid included staggered closing dates on the four lots from May 1 to Dec 22, 2010. The dates are to be selected by the purchaser. Council approved the sale and transfer of the 4 lots to 1529250 Ontario Inc. (Stonefield Homes) by By-law 2010-047. 2.2 The first of the 4 lots has been transferred to 1529250 Ontario Inc. (Stonefield Homes) and the remaining 3-lots are to be transferred by Dec 22, 2010. 2.3 The Municipality has the ability to severe properties at the time of sale without having sought approval of the Regional Land Division Committee. The Region is aware that the Municipality was selling the 4 lots and provided comments during the rezoning process. However, since the 4 lots were all being purchased by the same home builder, once the second lot is transferred, the title will "meld" and the two lots will become one. The four lots are not part of a subdivision plan and as such a part lot control by-law to establish the four lots cannot be passed. To address this issue, the lots will have to be transferred to different numbered companies controlled by the same owner. 2.4 Stonefield Homes has provided another numbered company, 2055979 Ontario Inc. The intervening lots can be transferred to this company, thus ensuring that the lots do not meld on title before they are subsequently sold to home purchasers. ADDENDUM TO REPORT NO.: PSD-054-10 PAGE 3 3.0 CONCLUSION 3.1 To address the issue of the lots melding an amending By-law to transfer Lots 2 and 4 to a different numbered company also owned and controlled by Stonefield Homes (Ken Hoy) is provided in Attachment 2. Staff Contact: Faye Langmaid Attachments: Attachment 1 -PSD-054-10 (complete set of attachments are available from the Clerks Department) Attachment 2 - By-law to Authorize Transfer of Lots 2 and 4 to 2055979 Ontario Inc. List of interested parties to be notified of Council's decision: Neil Ryan, Ryan Realty Services Ltd. Ken Hoy, Stonefield Homes CI ~ Il ,. Leading the.Way ATTACHMENT1 TO ADDENDUM REPORT PSD-054-10 REPORT PLANNING SERVICES Meeting: GENERAL PURPOSE AND ADMINISTRATION MEETING Date: April 19, 2010. Resolution #: By-law #: Report #: PSD-054-10 File #: RE 6.13.6 Subject: SALE OF SURPLUS PROPERTY - 182, 186, 190, 194 GEORGE REYNOLDS DRIVE, FORMER TRUCES ROAD FIRE STATION SITE RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Report PSD-054-10 be received; 2. THAT a By-law be passed to confirm and ratify the realty services agreement between the Municipality of Clarington and Ryan Realty Services Ltd.; 3. THAT a By-law be passed to ratify and confirm the Agreement of Purchase and Sale between the Municipality and 1529250 Ontario Inc., including the payment of commission to,Ryan Realty Services Ltd. as provided in the Agreement on its completion; 4. THAT a By-law be passed to authorize the sale and transfer of the lands identified as Parts 2, 3, 4 and 5, Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190, and 194 George Reynolds Drive, Courtice; 5. THAT the net proceeds from the sale of the surplus properties be deposited into the Municipal Acquisition Reserve; 6. THAT staff and the Municipality's Solicitor be authorized to take all necessary actions to complete the transaction; and THAT all interested partied in Report PSD-054-10 be notified of Council's decision. CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T (905)623-3379 F (905)623-0830 REPORT NO.: PSD-054-10 PAGE 2 Submitted by: / Reviewed by: angmaid CSLA, MCIP ctii g Director of Planning Services IUdf 12 April 2010 C~ ¢~-~ ~- Franklin Wu, Chief Administrative Officer 883 REPORT NO.: PSD-054-10 1.0 BACKGROUND 3 1.1 The former Trulls Road Fire Station property is located at the northeast corner of Trulls Road and George Reynolds Drive in Courtice (Attachment 1). It has 45.64 metres of frontage on Trulls Road, 186.35 metres of frontage on George Reynolds Drive, and a total lot area. of 0.95 hectares. In 2005 a new fire station was constructed at 2611 Trulls Road. Council declared the site at the intersection of Trulls Road and George Reynolds Drive as surplus in September of 2006. 1.2 This property is designated Urban Residential and Environmental Protection in the Clarington Official Plan. The EP designation covers a small section of the south east corner. A tributary of the Farewell Creek runs through the eastern portion of the property and this area also contains a provincially significant wetland. Formerly, the site was zoned Agricultural (A) and Environmental Protection (EP) under the former Town of Newcastle Zoning By-law 84-63. In April of 2007 Council authorized the CAO to make application to zone the property so that it could be developed for residential use in conformity with the Clarington Official Plan. 1.3 As per municipal policy for the sale of property where there has been the potential for spills or contamination, Phase 1 and Phase 2 Environmental Site Assessments are completed to determine if there are any contamination issues. The reports indicated some issues, appropriate actions were taken, and a Record of Site Condition was filed on the Ministry of Environment's Environmental Site Registry on April 27, 2009. 1.4 An Environmental Impact Study was required as the property contains a portion of the Harmony-Farewell Iroquois Beach Provincially Significant Wetland. CLOCA completed the study for the Municipality and determined that four residential lots could be developed at the western end of the property fronting on George Reynolds Drive. The reminder of the site has been zoned Environmental Protection (EP) and added to the adjacent neighbourhood park. 1.5 In October of 2008 Council approved a zoning by-law amendment to rezone the developable portion of the site to residential use, and to rezone the area to be environmentally protected as determined by the Conservation Authority. The boundaries of the zone changes are indicated in Attachment 2. The residential area contains a Holding symbol which is to be removed upon Council being satisfied that all requirements for development have been met. A separate report will be presented to Council in May to remove the Holding symbol. 1.6 During 2009 the necessary services to these lots were included in one of the Engineering Services Departments contracts so that the lots would be ready for sale in spring of 2010. 2.0 OFFERS TO PURCHASE 2.1 In 2008 there was a proposal call for real estate services for the sale of surplus lands. Council was notified on January 21, 2009 by memo that a proposal call. for real estate services had been conducted and Mr. Neil Ryan of Ryan Realty Services Ltd. had been REPORT NO.: PSD-054-10 PAGE 4 retained to list municipal properties that had been declared surplus and were being sold on the open market as developable lots. Listing through a real estate agent provides greater exposure on the real estate market than the tendering process. 2.2 The property is being sold as four separate residential lots. The asking price was determined by Mr. Ryan, an accredited residential appraiser. The most easterly lot, 194 George Reynolds Drive, abuts a woodlot, therefore, its asking price of $130,000 is the highest of the four. The remaining three lots are listed for sale at $110,000 each. All lots were offered for sale at $10,000 above their estimated market value. 2.3 The properties were listed on the Durham and Torcnto Real Estate Boards MLS System, their boundaries were staked for ease of identification, and real estate signs were posted on each. The four lots were listed on February 16, 2010 with offers being accepted and opened on March 24, 2010. This allowed exposure of the lots on the market and provided the Municipality with the ability to evaluate multiple Offers at the same time. 2.4 On March 24, 2010 Offers were submitted to purchase the four lots. 1529250 Ontario Inc. (Stonefield Homes) has offered to buy 194 George Reynolds Drive for $115,000, $100,000/lot has been offered for the two centre lots and $95,000 has been offered for the corner lot abutting Trulls and George Reynolds. Three other bids were also submitted however, 1529250 Ontario Inc. (Stonefield Homes) was the highest offer. The bid includes staggered closing dates on the four lots from May 1 to Dec 22, 2010. The date will be selected. by the purchaser. 2.5 The Offers were signed back conditional upon Council approval (Attachment 3). The Agreements indicate that a $5,000 deposit is being held in Trust on each lot by Ryan Realty Services Ltd. 2.6 To safeguard the Municipality and ensure that the grading on the lots meets with the requirements of the Engineering Services Department, grading plans have been prepared by AECOM which indicate the building envelopes and how the developable portion of the properties are to be graded so that there is no affect on the environmental lands or adjacent properties. The Agreement of Purchase and sale states that the buyer is aware they are to adhere to the lot grading plans. 3.0 CONCLUSION 3.1 The purchase price of these lots is very close to the estimated market value, therefore, it is recommended that the lots be sold as indicated in the Agreements of Purchase and Sale. The proceeds from sale of these properties can be utilized to acquire other lands that have been identified for public use. Staff Contact: Isabel Little REPORT NO.: PSD-054-10 PAGE 5 Attachments: Attachment 1 -Location Map Attachment 2 -Rezoned Areas Attachment 3 -Agreements of Purchase and Sale Attachment 4 - By-law to Authorize Realty Services Agreement and Payment of Commission Attachment 5 - By-law to Ratify and Confirm Agreements of Purchase and Sale Attachment 6 - By-law to Authorize Sales and Transfers List of interested parties to be notified of Council's decision: Neil Ryan, Ryan Realty Services Ltd. Ken Hoy, Stonefield Homes m N CD 7 '. G1 r 0 '.. y O W ~D O a D c c Attachment 2 To Report PSD-054-10 !~{~~'~ rey~ ae ¢® ®y~l`C~~ GCi2l ~~'~'~ [ ° o ~~ 2 ~ H 6 ~ ~ 6 C ~ ~ R R~ p ~oa~.au~~i,i ~i is~ ~ ~~ E~d~ ~ , ~VV~ ai. ~. .. » . ,~, f ~ >a., vvvvvvv= 1 // vvvvvvv O /10 e I d~~...r ,..,m _ .m, r v v ~i' CJ v v vcr~~(~~ (`~~('~ v Q v ~ C7 i7 ~ v e a 1• ° / vvvvvv / ' .; v '; vvvvvv ~° ~ ~ ' v ,vvvv `~ ' p __': vvv.~vv~`~~0 - _ -..~vvvvv ° vvvv --- o vvvv o ,.~ v ~• o 0 ~~ vvvv, ' -a vvv,' ~j ~E ~~ ,v v 0`~ o o E ~I vvvv _ v_vvvv ~ .°... o. ~ LL r.:"^ F°m , ~ ~ .° " e~l °. ru" ,. ~ " ' ~ .~. xca..rwa ~ iw .~R ~ Ell i i ~ ....e~.. ~J ` §=~ ~~~ -.~ z...a. ~. ~f , ; GEORGE REYNOLDS DRIVE i i c ® Zoning To Remain "EP" Zoning Change From "A Te "EP" aim Abernethy, Moyor ® Zoning Change From "A" To "(H)R1-70" ® Zoning Ghange From "EP" To "(N)R1-70" ~ o Zoning Change From "EP" To "A" _ Patti ~. Barrie, Municipal Clerk I I / ~ s ~ - ~ °p ~ ~ LE~RL! REY,NNS ~. N ~ . ~-~ y ~ 7 g C ~ W ~ ~ ~ y 61A]IOUWS ~ ~ ® hhC l ~i GWR) I CR6..E/l ~f S ~ ~ ~ ~ SIFf£f `vG FOUND C AYS E04<RC ~ I LI ENNEw F6 N REEL 0.4RNp11E ^1 gy U P~ , Y ® P.IRRTE t 49n.~'_ GiE SOWFE !W~'R7N W ~ c°i l -v rn,sp W ~ ~ ~ ` ~E LFES F kF5/AIOiiT 51Af£T ' /+ Ie T /'~ O~R I IV~ ZBA 2D07-00,7- Attachment 4 To Report PSD-054-10 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NO. 2010- being a by-law to ratify and confirm a realty services agreement between Ryan Realty Services Ltd. and the Municipality of Clarington and to authorize the payment of commission to Ryan Realty Services Ltd. provided in the Agreement of Purchase and .Sale between the Municipality of Clarington and 1529250 Ontario Inc, of the lands more particularly described as Parts 2, 3, 4 and 5 on Plan 40R- 25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: 1. THAT the realty services agreement between the Municipality of Clarington and Ryan Realty Services .Ltd., referred to in Report PSD-054-10, is ratified and confirmed; and 2. THAT the payment of commission to Ryan Realty Services Ltd. provided in the Agreement of Purchase and Sale between the Municipality of Clarington. and 1529250 Ontario Inc. of the lands more particularly described as Parts 2; 3; 4 and 5 on Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice, be authorized. BY-LAW read a first time this day of 2010 BY-LAW read a second time this day of 2010 BY-LAW read a third time and finally passed this day of 2010 Jim Abernethy, Mayor . Patti L. Barrie, Municipal Clerk Attachment 5 To Report PSD-054-1 D THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NO. 2010- being a by-law to ratify and confimt the Agreement of Purchase and Sale between the Municipality of Clarington and 1529250 Ontario Inc. of the lands more particularly described as Part 2, 3, 4 and 5 on Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: 1. THAT the Agreement of Purchase and Sale between the Municipality of Clarington and 1529250 Ontario Inc. of the lands more particularly described as Parts 2, 3, 4 and 5 on Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182., 186, 190, and 194 George Reynolds Drive, Courtice in accordance with the recommendations contained in Report PDS-054-10, is ratified and confirmed. BY-LAW read a first time this day of 2010 BY-LAW read a second time this day of 2010 BY-LAW read a third time and finally passed this day of 2010 Jim Abernethy, Mayor Patti L. Barrie, Municipal Clerk THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NO. 2010- being a by-law to authorize the sale and transfer to 1529250 Ontario Inc. of the lands more particularly described as Parts 2, 3, 4 and 5 oh Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice Attachment 6 To Report PSD-054-10 THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: t THAT the lands more particularly described as Part 2, 3, 4 and 5 on Plan 40R- 25845, Part Lot 30, Concession 3, former Township of Darlington, .182, 186, 190 and 194 George Reynolds Drive,. Courtice be sold and transferred to 1529250 Ontario Inc. pursuant to the Agreements of Purchase and Sale contained in Report PDS-054-10. BY-LAW read a first time this day of 2010 BY-LAW read a second time this day. of 2010 BY-LAW read a third time and finally passed this day of 2010 Jim Abernethy, Mayor Patti L. Barrie, Municipal Clerk ATTACHMENT2 TO ADDENDUM REPORT PSD-054-10 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON 8Y-LAW NO. 2010 being a by-law to amend By-law 2010-047 to allow for the transfer to 2055979 Ontario Inc of lands more particularly described as Parts 2 and 4 on Plan 40R-25645, Part Lot 30, Concession 3, former Township of Darlington, 182 and 190 George Reynolds Drive, Courtice THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS 1. THAT the lands more particularly described as Part 2 and 4 on Plan 40R- 25845, Part Lot 30, Concession 3, former Township of Darlington, 182 and 190 George Reynolds Drive, Courtice be sold and transferred to 2055979 Ontario Inc pursuant to the Addendum to Report PSD-054-10. BY-LAW read a first time this day of 2010 8Y-LAW read a second time this day of 201p BY-LAW read a third time and finally passed this dayof 2010 Jim Abernethy, Mayor Patti L. Barrie, Municipal Clerk Clarington Leaarng the way REPORT PLANNING SERVICES Meeting: GENERAL PURPOSE AND ADMINISTRATION MEETING Date: April 19, 2010 Resolution #: By-law #: Report #: PSD-054-10 File #: RE 6.13.6 Subject: SALE OF SURPLUS PROPERTY - 182, 186, 190, 194 GEORGE REYNOLDS DRIVE, FORMER TRUCES ROAD FIRE STATION SITE RECOMMENDATIONS: It is respectfully recommended that the General Purpose and Administration Committee recommend to Council the following: 1. THAT Report PSD-054-10 be received; 2, THAT a By-law be passed to confirm and ratify the realty services agreement between the Municipality of Clarington and Ryan Realty Services Ltd.; 3. THAT a By-law be passed to ratify and confirm the Agreement of Purchase and Sale between the Municipality and 1529250 Ontario Inc., including the payment of commission to.Ryan Realty Services Ltd. as provided in the Agreement on its completion; 4. THAT a By-law be passed to authorize the sale and transfer of the lands identified as Parts 2, 3, 4 and 5, Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190, and 194 George Reynolds Drive, Courtice; 5. THAT the net proceeds from the sale of the surplus properties be deposited into the Municipal Acquisition Reserve; 6. THAT staff and the Municipality's Solicitor be authorized to take all necessary actions to complete the transaction; and 7. THAT all interested partied in Report PSD-054-10 be notified of Council's decision. CORPORATION OF THE MUNICIPALITY OF CLARINGTON 40 TEMPERANCE STREET, BOWMANVILLE, ONTARIO L1C 3A6 T (905)623-3379 F (905)623-0830 REPORT NO.: PSD-054-10 PAGE 2 Submitted by: Reviewed by: e angmaid CSLA, MCIP ctii g Director of Planning Services IUdf 12 April 2010 `J 4r ~~J Franklin Wu, Chief Administrative Officer 883 REPORT NO.: PSD-054-10 1.0 BACKGROUND PAGE 3 1.1 The former Trulls Road Fire Station property is located at the northeast corner of Trulls Road and George Reynolds Drive in Courtice (Attachment 1). It has 45.64 metres of frontage on Trulls Road, 186.35 metres of frontage on George Reynolds Drive, and a total lot area of 0.95 hectares. In 2005 a new fire station was constructed at 2611 Trulls Road. Council declared the-site at the intersection of Trulls Road and George Reynolds Drive as surplus in September of 2006. 1.2 This property is designated Urban Residential and Environmental Protection in the Clarington Official Plan. The EP designation covers a small section of the south east corner. A tributary of the Farewell Creek runs through the eastern portion of the property and this area also contains a provincially significant wetland. Formerly, the site was zoned Agricultural (A) and Environmental Protection (EP) under the former Town of Newcastle Zoning By-law 84-63. In April of 2007 Council authorized the CAO to make application to zone the property so that it could be developed for residential use in conformity with the Clarington Official Plan. 1.3 As per municipal policy for the sale of property where there has been the potential for spills or contamination, Phase 1 and Phase 2 Environmental Site Assessments are completed to determine if there are. any contamination issues. The reports indicated some issues, appropriate actions were taken, and a Record of Site Condition was filed on the Ministry of Environment's Environmental Site Registry on April 27, 2009. 1.4 An Environmental Impact Study was required as the property contains a portion. of the Harmony-Farewell Iroquois Beach Provincially Significant Wetland. CLOCA completed the study for the Municipality and determined that four residential lots could be developed at the western end of the property fronting on George Reynolds Drive. The reminder of the site has been zoned Environmental Protection (EP) and added to the adjacent neighbourhood park. 1.5 In October of 2008 Council approved a zoning by-law amendment to rezone the developable portion of the site to residential use, and to rezone the area to be environmentally protected as determined by the Conservation Authority. The boundaries of the zone changes are indicated in Attachment 2: The residential area contains a Holding symbol which is to be removed upon Council being satisfied that all requirements for development have been met. A separate report will be presented to Council in May to remove the Holding symbol 1.6 During 2009 the necessary services to these lots were included in one of the Engineering Services Departments contracts so that the lots would be ready for sale in spring of 2010, 2.0 OFFERS TO PURCHASE 2.1 In 2008 there was a proposal call for real estate services for the sale of surplus lands. Council was notified on January 21, 2009 by memo that a proposal call for real estate services had been conducted and Mr. Neil Ryan of Ryan Realty Services Ltd. had been REPORT NO.: PSD-054-10 PAGE 4 retained to list municipal properties that had been declared surplus and were being sold on the open market as developable lots. Listing through a real estate agent provides greater exposure on the real estate market than the tendering process. 2.2 The property is being sold as four separate residential lots. The asking price was determined by Mr. Ryan, an accredited residential appraiser. The most easterly lot, 194 George Reynolds Drive, abuts a woodlot, therefore, its asking price of $130,000 is the highest of the four. The remaining three lots are listed for sale at $110,000 each. All lots were offered for sale at $10,000 above their estimated market value. 2.3 The properties were !isted on the Durham and Toronto Real Estate Bcards :4LS System, their boundaries were staked for ease of identification, and real estate signs were posted on each. The four lots were listed on February 16, 2010 with offers being accepted and opened on March 24, 2010. This allowed exposure of the lots on the market and provided the Municipality with the ability to evaluate multiple Offers at the same time. 2.4 On March 24, 2010 Offers were submitted to purchase the four lots. 1529250 Ontario Inc. (Stonefield Homes) has offered to buy 194 George Reynolds Drive for $115,000, $100,000/lot has been offered for the two centre lots and $95,000 has been offered for the corner lot abutting Trulls and George Reynolds. Three other bids were also submitted however, 1529250 Ontario Inc. (Stonefield Homes) was the highest offer. The bid includes staggered closing dates on the four lots from May 1 to Dec 22, 2010. The date will be selected. by the purchaser. 2.5 The Offers were signed back conditional upon Council approval (Attachment 3). The Agreements indicate that a $5,000 deposit is being held in Trust on each lot by Ryan Realty Services Ltd. 2.6 To safeguard the Municipality and ensure that the grading on the lots meets with the requirements of the Engineering Services Department, grading plans have been prepared by AECOM which indicate the building envelopes and how the developable portion of the properties are to be graded so that there is no affect on the environmental lands or adjacent properties. The Agreement of Purchase and sale states that the buyer is aware they are to adhere to the lot grading plans. 3.0 CONCLUSION 3.1 The purchase price of these lots is very close to the estimated market value., therefore, it is recommended that the lots be sold as indicated in the Agreements of Purchase and Sale. The proceeds from sale of these properties can be utilized to acquire other lands that have been identified for public use. Staff Contact: Isabel Little REPORT NO.: PSD-054-10 PAGE 5 Attachments: Attachment 1 -Location Map Attachment 2 -Rezoned Areas Attachment 3 -Agreements of Purchase and Sale Attachment 4 - By-law to Authorize Realty, Services Agreement and Payment of Commission Attachment 5 - By-law to Ratify and Confirm Agreements of Purchase and Sale Attachment 6 - By-law to Authorize Sales and Transfers List of interested parties to be notified of Council's decision: Neil Ryan, Ryan Realty Services Ltd. Ken Hoy, Stonefield Homes a c~ N Q ~D 7 '. N r 0 0 W 0 a D y N C Attachment 2 To Report PSD-054-10 ~v `€~a~d~'s~i,i ~i5°ed ~~~ vtl ~ e e~~p Pal.®. IIr .. „, f ~ . - ~ ,~. - -- vvvpvvv w ,.° ---- I i q/ ncr~7c7gp c> l // DDVDODOU ^l o /1 ~ YY'1 , ~ ~ ~ v v v v~ v v '~ ~ I 1 i ii' } / , ~ 1= ^-t~~ l ' 1 ~ ..., v vDt?DDC ,.~ 9' D 9 v vl i V V ~~ [ r ~ O ~F-Y v ~D D D D ri . 1149 v=~79~ Qvc - - ••»D9D99 0 o vvvv --- °a ~vvv O ,.fit 9 0• o 0 ~" vvvv, 3. J -: ~ D 9 vas ~ 7 J o .; £ _ w D 0`D ~ i~ I ~i G' C7 9 9 i F. vvvvv ~1 e= iu r. g~l i I ~~ tl~••w• •9' ^y • amrz.,rwrra"n nr+ ~_ , ; h- ° ~»~°~ GEGRGE REYNGLDS DRIVE i i s. ® Zoning To Remain "EP" Zoning Change From "A To "EP" Jim Abernethy, Moyor ® Zoning Change From "A" To "(H)R1-70" ® Zcning Change Frcm "EP" To "(H)R1-70" Zoning Change From "EP" To "A" Patti L Barrie, Municipal Clerk I ~ ~ ~ p ~ ~~ , ~ § 2 ~f C LEUR6E REYNO105 0.4. ~ RcINOGOS P P N 5}y~~ ~ .'.v1 ~ y'+ W 05 0. 912- E Y V ~ ftwmulNS ~ ~ S LgKr J c ® p 5(EENM' 2lRI VELCIR S O FF ~ STREET [.~ ,~ `K FCLW9 G 16. ~OUAPE REEI CEWN6VF I GI EM'IEM' RO N uns~vauE ei4uwc R/LlO1f20 R~. W vwxErtc c ~ srarz smuaE Fou4rx ~~" 4 R£RflVrIM ~ m Q' 5 cacs ry xEnawRE sm G ~IlRTICE ZBA 2007-0011 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW N0.2010- Attachment 4 To Report PSD-054-10 being a by-law to ratify and confirm a realty services agreement between Ryan Realty Services Ltd. and the Municipality of Clarington and to authorize the payment of commission to Ryan Realty Services Ltd. provided in the Agreement of Purchase and Sale between the Municipality of Clarington and 1529250 Ontario Inc. of the lands more particularly described as Parts 2, 3, 4 and 5 on Plan 40R- 25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: 1., THAT the realty services agreement between the Municipality of Clarington and Ryan Realty Services .Ltd., referred to in Report PSD-054-10, is ratified and confirmed; and 2. THAT the payment of commission to Ryan Realty Services Ltd. provided in the Agreement of Purchase and Sale between the Municipality. of Clarington and 1529250 Ontario Inc. of the lands more particularly described as Parts 2; 3, 4 and 5 on Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice, be authorized. BY-LAW read a first time this day of 2010 BY-LAW read a second time this day of 2010 BY-LAW read a third time and finally passed this day of 2010 Jim Abernethy, Mayor Patti L. Barrie, Municipal Clerk Attachment 5 To Report PSD-05410 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NO. 2010- being a by-law to ratify and confirm the Agreement of Purchase and Sale between the Municipality of Clarington and 152925D Ontario Inc. of the lands -more particularly described as Part 2, 3, 4 and 5 on Plan 4DR-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: 1. THAT the Agreement of Purchase and Sale between the Municipality of Clarington and 1529250 Ontario Inc. of the lands more particularly described as Parts 2, 3, 4 and 5 on Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190, and 194 George Reynolds Drive, Courtice in accordance with the recommendations contained in Report PDS-D54-10, is ratified and confirmed. BY-LAW read a first time this day of 2010 BY-LAW read a second time this day of 2010 BY-LAW read a third time and finally passed this day of 2010 Jim Abernethy, Mayor Patti L Barrie, Municipal Clerk Attachment 6 To Report PSD-054-10 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON BY-LAW NO. 2010- being a by-law to authorize the sale and transfer to 1529250 Ontario Inc. of the lands more particularly described as Parts 2, 3, 4 and 5 on Plan 40R-25845, Part Lot 30, Concession 3, former Township of Darlington, 182, 186, 190 and 194 George Reynolds Drive, Courtice THE COUNCIL OF THE CORPORATION OF-THE MUNICIPALITY OF CLARINGTON ENACTS AS FOLLOWS: 1. THAT the lands more particularly described as Part 2, 3, 4 and 5 on Plan 40R- 25845, Part Lot 30, Concession 3, former Township of Darlington, _182, 186, 190 and 194 George Reynolds Drive, Courtice be sold and transferred to 1529250 Ontario Inc. pursuant to the Agreements of Purchase and Sale contained in Report PDS-054-1D. BY-LAW read a first time this day of 2010 BY-LAW read a second time this day of 2010 BY-LAW read a third time and finally passed this day of 2010 Jim Abernethy, Mayor Patti L. Barrie, Municipal Clerk ~~~p~B~~~ arodo VR~i~6 Wel E.ak Ass«iolion Confirmation of and Representa~ Httacnment 3 To Report PSD-054-10 Form 3S0 la my in the PmNnee d Q,bno p p ny isz tieorge tteynmas unve, (.omttice Claris on -- _-- ~~~ ~~ Far the hansvaiion on the roe krown as :.................. ._....__..................................... ......_~_.......... .............................. Fa the purpotts of this Coninmvliad of Cooperofion'ond Represenlmion, a "Seller" includes ¢ vendor, o ksndlord, or v proapetliv¢, seller, vendor or hndlwd and a °Buyer" includes a pvrchose5 o resent, or a prospective, buyeq~purchmer or renwt and a "sob' includes a leos¢. Tha fdlwAsp issfarmolirn is caasgnmd by flra endenigrsd svkspenon/bmker sepnsanMives rsF Nss Bmkefege(s]. B a Coapervsig Brokasaes is invdvsd in Bis lrmwctlen, flse brokaagss agues b eo-aperalq in sonsldaratian d, and on Nv trams and rardiliw ea asl esnbskw, DECLARATION Of INBURANCG TM andsrsigrud wkgwesen/broker represenfofiw[sl of dse Brskeragsis) hereby declan Ihaf he/she is imared as nsryirsd by dse Real Esrob and Business Broken Aef (REBBl1] and Regsdafiens. 1. LISTING BROKERAGE The Listing Brokerage represents the interests of the Seller N this transaction. 2. CO.OPERATING BROKERAGE The Cooperating Brokerage represents the interests of the Buyer in this transaction. l[ is further understood and agreed [hat the Listing Brokerage will pay the Co-operating Brokerage © the commission as indicated in the MI.gt9 informationfor the property or. ifnot an MLSdD listing: ^ e commission af .........................................................:..............................:.............._................................ plus applicable Goods and Services Tax, from the amount paidby the Seller to the Listing Brokerage, on any trade wherein the Cooperating Brokerage has obtained an eclxpted Agreement ofPurchese and Sale, option to Purchase or Agreement to Exchange anNorLease. Said payment of covunission will not make the Cooperating Brokerage either the egwt orsub-agent of the Seller or dte Listing Brokerage. Additional comments md/or disclosures by Listing Brokerage Additional commeNa enNor discloemee by Co-operating Brokerage: [e.g. The Co-operating Brokerage represents vwre then one Buyer oRedvg on this property.] ax~vmg peymm~ m cmmnirri¢n rrom me Labng tlmkaege, mm me agreement between [.iaYng meet, the comideniion for wMch'v We Co~openung Brokerage p¢cvdng eo ¢Hv for a Wade ¢f ubiat m and govemd by tltt MLS® soles eM reguksioss pemiaing m communion trues of me ulaiovs so pmvide.ONawitt, tlx provisions ofm<ORaA rcmmmeMed MLS®sales mid s Commiseiov iwt Agrternent, the Cemmiesioo Tryst Amoent ahdl be the amount rand ebve. tlm track ahafl rnmdmb s Commiaeien Tsust end shall be held, io tw4 fns the Cit-vpereting OF 1b1F Foxi YuJ-4JJ-eIA /LV-lV ..........._ Fac: ..................................... iel . .. _ ............. O]NSENT FOR MULEIPIF REPRESENd1710N (Te 6a compMed snly'd the Bsokeregs repmsens mere Rson ens eTixsf Far fhs hmssaclion.) iha Bayer/Buyer consent wigs fhe'v 1niNals fo their Brokerage O repnsenfksg mars Hsan one client For this fransoclion, SNLFMS eiITWf rm°g'a lnmets I h recsikwd, ACKNOWLFDG , and undarslm Rss abate in(ormadon. ~/ ~E6i .. Date:..a~_:'.~. .'..'...~r.C/L.C1.. ....... .. .. Dare 3~~i 1.~~0 b ~ Si q. ~. ...........__........_ ........... :... . $..... .ie af'SeOIe,} ................................... Dah:................................... ...........:.... ........................... Dme:...................................... r~ ®2008, Qwno RmlFsbk AU«ioYOn l°OREA _ AI' 15ignomrt oT~B,iyer)~~~~~~~~~ ,L,°L~„ oFhmsnMn oM 6.w,ws rah. aAr,m ar ~~~~~irfam waa,ierebped try tMEA far a,e.v ud ,epmd,gia, Form 330 - 8008 Pa aloFl Ary ,op~odirton it prthibaed euq,I with pr„r w,iMn cmeen of ORFA. R ~~ ~7E;a. Agreement of Purchase and Sale Form Too A"~d~m Fa vs in ire Province of Onkno This Agreement of Purchase and Sale dated this. 24th ............................ day of ..M..a!'pb..................................... 20.10..... gtryEg~ 1529250 Ontario Inc.,... ........, agrees fo purchase from ............... ........... )FvIlTegol names of all.B~rsl...................................... SELLER, Municipality of Clariogtoq ......... . .... ,,,,................, the following f 9 1 .................... Full le a(~names~of~clf Sellers "'~~~~""'~~'~'~"' REAL PROPERIT: - Address.I82 George Reynolds,Drive,.Courtice. ,,,,,,,,,,,,,,,,,,,, fronting on the Np~....................... side ........................... of. George Reynolds Drive..,,.,.... „ in the Municipality of , Clarinpton,...,,, and having a. Frontage of .33;9 feet ............................ more or less by a depth of .144 feet,...,,..,.,..,..........,,., more or less and legally described as Concession 3 Part Lot 30 PIan.40R25845 Part 2... ..................................... ..................................... ........... ........... (the "property"~ L al~descri hon of~loedTncfudin ~~easements noi'rle'scril>rg ~efsewhere ~~~~~~~""~""'~"" ' l eg P 9 I PURCHASE PRICE: Dollars (CDN$) 95,000.00,,, .,..,., ,. Ninety-Five Thousand ,Dollars .................................................................................................................................................................. DEPOSIT: Buyer submits . %~ otherw,ise, described in this Agreement ,IHerewilh/Upon Awpmnce/as otliawise described in Ihu AOreementl Five Thousand ,,,,,,,, ... Dollars (CDN$).5,000;00 by negotiable cheque payable to. Ryan Realty Services L[d;s Brplcera&e ..................................... "Deposit Holder" b lie held in host pendirr>3 compleion or oilier terminofion of I•tis Agreement and ro be credited toward the Purchase Pdce on completidn: For the pu~oses of this Agreement Upon Acceptance" shall mean that the Buyer is required to deliver the deposrt to the Deposit Ho der within 24 hours of tyre acceptance of this Agreement. The ponies b this Agreement hereby acknowledge that, unless otherwise provided for in this Agreement, the Deposit Holder shall place the deposit in trust in fire Deposit Holder's non-interest bearing Real Estate Trust Account and no inleresYSholl be earned, received or paid on the deposit Buyer agrees ro pay the balance as more particularly set out in Schedule A attached. SCHEDULE(S) A.:.Br.C ..........: ...............................................aBalched h~fo ~orrn(s) part of this Agreement. 1. IRREVOCABILITY: This shall be irrevocable by ..~!!7.~.5R(L~ until Si~ ...:............ pm on I$eller/earl ............... the as ~ .. day of March.:. ,,,, , ..... 20.10....., abet which time, if not accepkd, dris Offer shall be null and void and the deposit shall be reNrned to the Buyer in full without interest. 2. COMPLETION DATE: This Agreement shall be completed by no later dean 5:00 p.m. on the .see schedule "A" , , ,day of ............................................ 20.......... Upon wmplefion, vacant possession of the property shall be given ro the Buyer unless otherwise provided for in this Agreement. 3. NOMES: The Seller frerebyapppooinls the Ushng Brokerage as agentfor the SellPf for dre purpose of giving and receiving notices pursurart b this Aoreenerrl. ~ Where a Brokeraoe Hovels Brokeroael has entered info a representahon apreememwRhdre Buyer, the Buyer hereby or ndice FAX No..905-033 :8735 .............IFor delivery of notices ro Sellerl INRIALS OF BUYER(S): ® m:oio.aaormirara~w~rorul Nrolk n,s..d. in-, Mn.v dnbP•dkyoxu. .,w., asr Mr~w.,,„i.w,e.~np"nei.dwq.ennPm..r..m.."d oewwmor ~.i,. .905.720.3006 ............. Igor delivery of noricearo Buyerl IMRIALS OF SELLER(S): Fwm 100 Rev. 03/2010 Pv9e i d S VJEBFnmsaTM Matl2e10 4. CHATTELS INCLUDED: 5. FURORES EXCLUDED: 6. RENTAL REMS: The fdlowing equipment is rented and not included in the Purchase Price. The Buyer agrees to assume the rental contractjs), if assumable :....................................................................................................................... ...........................................................:.............:.............................................:................................................ 7. GST/HST: If thesale of the property (Real Propery.as escribed above) is subject to Goods and Services Tax (GST) or Harmonized Sales Tax (HSTI then such tax shall be ~ a~tlLbgn fa ... the. Purchase Price. If the sale of p~dca~d taihoadd~aa.m) the Property Is not subject ro GST or HST, Seller agrees }o certify on or before closing, that the sale of the prapery is not subject ro GST or HST. Any HST an chaBels, if applicable, is not included in the purchase price. 8. TITLE SEARCH: Buyer shall be allovred until 6:00 p.m. on the ......................:... day of..........................:........., 20......., (Requisition Date) to examine the title to the Propery at Buyer's own expense and until the earlier of: (ij thirty days from the aterof the Requisition Date or Iha date on which the conditions in this Agreement are fulfilled or otherwise waived or; [ii) five days prior ro completion, ro satisfy Buyer that there are no outstanding work orders or deficienry notices affecting the Propery, and that ih present use ( ................................:......................................................................j. may Lie lawfully continued anti that theprincipal building may be insured against risk of fire. Seller hereby consents to the mvnicipaliy or other governmental agencies releasing to Buyer details of all outstanding work orders and deficiency notices affecting the property, and Seller agrees to execute anti deliver such further authorizations in }his regard as Buyer may reasonably require. 9. FUTURE USE: Seller and Buyer agree that there is no representation or warrant' of any kind that the future intended. use of the properly by Buyer is or will be lawful except as may 6e specifically provided for in Ihis Agreement. 10. i1TLE: Provided that the tide ro the properly is good and free from all registered restrictions, charges, liens, and encumbrances except as otherwise specifically provided in this Agreement and save andexcept for (aJ any registered restrictions or covenants that run wish the land providing that such are complied with; (bj any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been wmplied with, or securiy has been posted to ensure wmpliance and completion, as evidenced 6t' o letter from the relevant municipally or regulated utility; (c) any minor easements for the supply of domestic utiliy. or telephone services to the property or ad77'acent properties; and d) any easements for drainage, storm or sanitary sewers, public utiliy lines, telephone lines, wbte television lines or of er services which do not materially affect the use of the propart'. If within the specified times referzed to in paragraph 8 any valid objection b fide or ro any outstanding work order or deficiency notice, or to the fact the said present use may not lawfully be continued or Thal the principal building may not be insured against risk of Fire is made in writing to Seller and which Seller is unable or unwilling to remove, remedy or satisfy or obtain insurance save and except agamst risk of fire jTitla Insurance) in Favour of the Buyer and arty mortgagee, (wtlh all related vests at the expense dF the $ellarl, and which Buyer will not waive, this Agreement notwithstanding any intermediate acts or nego}iations in respect of such objections, shall be at an end and all monies paid shall be returned without interest or deduction and Seller, Listing Brokerage and Cooperating Brokerage shall not be liable for any cosh ar damages. Save as to any valid objection so made by such day and except for any objection going ro the root of the title, Buyershal be conclusively deemed ro have accepted Seller's fide to the property: 11. CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lawyer fo complete the Agreement of Purchase and Sale of the Propery and where the honsoction will 6e completed by electronic regisfrafion pursuant to Part III oflhe Land Registration Re~orm Act, R.5.0. 1990 Chapter L4 and the Electronic Registration Acl, S.O. 1991, Chapter 44, and anyamendments Iherero, the Seller and Buyer acknowledgge and agree that the exchange of closing funds, nonregistroble documents and other items (the "Requisite Deliveries"Iand~the release thereof ro the Seller and Buyer will (a not occur at the same time as the registration of the transfer/ddeed (and any other documents intended to be registered in connection with the completion of Phis fransac}fon) anti (b) be subject ro conditions whereby the lawyerjs) recening any of the Requisite Deliveries will. be required ro hold samein trust and not release same except in accordance with the terms of a document registration agreement between the said lavryers. The Seller anti Buyer irrevocably insfruct the said lawyers to be bound by the document registration agreement which is rewmniended from time to time by the Low Sociey of Upper Canada. Unless otherwise agreed to by the lawyers, such exchange of the Requisite Deliveries will occur in the applicable Land Titles Office or such other location agreeable to both lawyers. 12. DOCUMENTS AND DISCHARGE: Buyer shall not toll for the production of arty tide deed, abstract survey or other evidence of tide ro the property except such as are in the possession or control of Seller. If requested by Buyer, Se~ler will deliver any sketch or survey of Poe prapery within Seller's conrol ro Buyer as soon as po ible and prior to the Requisition Dore. If a discharge of am/ Charge/Mortgage held by a corporation incarporofed pu u b dRS Trust And Loan Companies Act (Canada), INITIALS OF BUYER(S): INITLALS OF SELLER(S): ® maaio,^.. woier,.,b,~~Ccernt. wu reia.~..,.d. r.. s,m.,. a..+sdNoau ro-aw. ~yodr9md~t ~bsauM ~,.. erJr.hydro.>iyod,emsp~d~Asd...p.:nr;~w`n v>~adov~ro~wcb W.n prmp ~h.a~dp.r~,mn Farm 100 Rw. 03/f010 Pmg~RefS - - wEBFwms°Marrz0la Chartered Bank, Trust Company, Credit Union, Caisse Populaira or Insurance Company and which is not b be assumed by Buyer on completon, is net available in regishable form on completion Buyer agrees to accept Seller's lawyer's personal undertaking to obbin out of the closing funds, a discharge in regatrabfe fwm and b register same, or cause same to be registered, on title wif~in a reasonable period of fime aher completion, provided that on or before completon Seller shall provide b Buyer a mortgage statement prepared by the mortgagee salting out the balance required b obtain the discharge, and, where areal-time elechonic cleared funds hansfer rystem is not being used, a direction executed ybyy Seller direchrg payment b the mortgagee of the amount required fo obtain the discharge out of the balance due on wmplefion. 13. INSPECTION: Buyer acknowledges Having had the opporNnily ro inspect the property and understands that upon acceptance of this Offer there shall be a binding agreement of purchase and sale between Buyer and Seller. The Buyer aclmowledges having the opportunity ro include a reegqmremeM for a property inspection report in this p~rcement and agrees that except as may Ise spedfically provided for m this A~reomenf, the Buyer wf'll noT 6e obfaimng o Property mspeetion or Property tnspet:tion report regarding The Property 14. INSURANCE: All buildings on.the propery and all other things being purchased shall be and remain until camPleiion at the risk of Seller. Pending completion, Seller shall hold all insurance policies if any, and the proceeds thereof in trust - for the parties as their interests may appear and in the event of substantial damage Buyer may either terminate Phis Agreement and have all monies ppa~id returned without interest or deduction or else ta(<e the proceeds of any insurance and complete the purchase. No insurance shall be hansfarred on completion. If Seller is faking back a Charge/Mortgage, or Buyer is assuming aCharge/Mortgage, Buyer shall supply Seller with reasonable evidence of adequate Insurance to protect Seller's or other mortgcgee s interest on completon. 15. PLANNING ACT: This Agreement shall be effective io create an interest in the properly only if Seller complies with the subdivision conhol provisions of the Planning Act by completion and Seller covenants to proceed diligently at his expense b obtain any necessary consent by completion. 16. DOCUMENT PREPARATION: The Tmnsfer/Deed shall, save for the Lond Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge/Mortgage b be ggiven back by the Buyer b Seller of fhe expense of the Buyer. If requested 6 8 er, Seller wvenants that the Transfer/Deedro ba delivered on completion shall contain the statements contemplatedyby Section SOj22) of the Planning Act, R.S.O.1990. 17. RESIDENCY Buyer shall ba credited towards the Purchase Price with the amounfbif any, necessary for Buyer to Pay b the Minister of National Revenue to satisfy Buyer's liabiliy in respect of tax pays le by Seller under the non-residency provisions of the Income Tax Act by reason of this sale. Bu r shall not claim such credit if Seller delivers on completion .the prescribed certificate or a statutory declaration that Seller is not then a nonresident of Canada. 18. ADJUSTMENTS: Any rents,:morigoge interest, realty taxes including local improvement rates and unmeiered public or private utiliy charges and unmeiered cost of fuel, as applicable, shall 6e apporfioned and allowed b the day of completion, the day of wmplefion itself b be apportioned to Buyer. 19.PROPERTY ASSESSMENT: The Buyer and Seller hereby acknowledge that the Province of Ontario has implemented current value assessment and properties may be reassessed on an annual basis. The Buyer and Seller agree that no claim will be made against fhe Buyer or Seller or any Brokerage or Salesperson, for any changes in property tax os a resuh of a reassessment of the properly, save ana except any property fazes that accrued prior b the wmplefion of this fransaction. 20. TIME OMITS: Time shall in all respects be of the essence hereof provided that the fime for doing or completing of arty matter provided for herein may 6e extended or abridged by an agreement in writing signed by Seller and Buyer or 6t' - their respective lawyers who may be specifically authorized in that regard 21. TENDER: Any tender of documents or moneyy hereunder may 6e made upon Seller or Buyer or their respective lawyers on the day set for completion. Money may be tendered by bank draft or cheque certified by a Chartered Bank, Trust Company, Province of Ontario Savings Office, Credit Union or Caisse Populaira. 22. FAMILY LAW ACT: Seller warranh that spousal consent is not neceuary to this transaction under the provisions of the Family Law Act, R.S.O.1990 unless Seller's spouse has executed the consent hereinafter provided. 23. UFFI: Seller represents and warzanls to Buyer that during the time Seller has owned the property, Seller has not caused any building on the Property to be insulated with insulation containing ureafarmaldehyde, and that to the best of Seller's knowledge no building on the propery wntains or has ever contained insulation that contains oreaformaldehyde, This warrant' shall survive and not merge on the completion of this transaction, and if the building is part of a multiple unit building; this warranty shall only apply to tlrat part of the building which is the subject of this transaction. - 24. LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the brokerage is not legal, taz or ernironmental advice. 25. CONSUMER REPORTS: The Buyer is hereby notified that a consumer report containing credit and/or personal information may 6e referred to in connection with this fransadion. 26. AGREEMENT IN WRRING: If there is conhid or discrepancy behveen any provision added b this Agreement jincluding arty Schedule attached hereto) and any provision in the standard preset portion hereof, the added provision shall supersede - _ the standard preset provision b the extent of such wnflict or discreponq. This Agreement including any Schedule attached hereto, shall consfAute the entire Agreement behveen Buyer and Seller. There is no representation, warranty, wlkrerol agreement or condition, which affects this Agreement other than as expressed herein. For the purposes of this Agreement Seller means verdor and Buyer means purchaser. This Agreement shall be read with all rJ3anges of gender or number required 6t' the context. 27, TIME AND DATE: Any reference b a fime and date in this Agreement all mean fhe lime and dale where the properly is kxoted. INRIALS OF BUYER(S): ( "f III, ) INRIALS OF SELLER(S): ( p~ ) ®oxro,o~Rmi... n,~w.roaFwn.wr,4~+~..w.>tixr~.md...~p.+bcern b. w.m~d~4ebaa.dn..Rs.mai~,r, mMM'~.i..anpedsem~pMbM mpxMpv.ti.mvadceFA Oe.a d~H~pii4g s,padaw l~bd~dpMpem• Fann 100 Rev. 03/2010 Pap3d3 VJEBFmna^'Marl2mo 28. SUCCESSORSAND ASSIGNS: The heirs, ezecurors, administrators, successors and assigns of the undersigned are bound by the terms herein. - SIGN 5 D AND DE EKED in the presence of IN fi 55 w e I hwe hereunto eel my hand and seal: ~zY~/d jw'meuj ... .. .......................................................... .... ...~.. .~ ................................................ I~I DATE................ ............... ........................................................................:... ~ DATE................................... .......... Ivhi~:::j Iss>=1 I I I, the Undersigned Seller, agree ro the above Offer. I hereby irrevocably instruct my Iowyer ro pay directly io $le Listing Brokerage the unpaid balance of the commission t ether with applicable Goods and Services Tax fond any othertaxes as mayhereaher be applicable, from the proceeds of the sale prior to any payment to the undersigned on completion, os advised by the Lim Brokerage ro my lawyer D, SEA AND DEOVERED in the presence of IN TNESS wM f I hove here1u/nb set my hood and seal: .. .. .... ..... .:.................................................... .. .!/SA!'7r .............................. ~ DAiE.l.-ia/T~.~+..r.....l..sl.~0 le. ........(. ..... 1 % ..` ............................................... ..........................................................:.................... ~ DATE...........................:....... SPOUSAL CONSENT: The Undersigned Spouse of the Seller hereby consents to the disposition evidenced herein purwant ro the provisions of the family Law Ad, R.S.0.1990, and hereby agrees with the Buyer that he/she wilt execute all necessary or incidental documents ro give full force and effect to the sale evidenced herein. ............................................................................ ......... .....................................................:.............. I~1 DATE................................... (wm6ul. Iko„ml- CCMIFGEMATION OF ACCEPTANCE: NoN+ithsfanding arry~ling contained herein ro fhe conhary, confirm this Agreement with all ............... changes both typed and written was finally accepted by all portiesaf. y:. ~.r~.....e~mlp.m. tfii ..... .... ...Z day of............1:'f.tea64f...-. ..............................20..60..... ~ ..........:.... ........ ..pB ~..... ........ 5re ... INFpRMATON ON BROKERAGEjS) - Listing Bmkerope_Ryan Reatty Services Ltd,, Brokerage ................. ........................... TeLNo_905-034-5128 Coop/Buyer BrokmBa_h~COM MILLEbiNIUM REALTY INC.,, BROKERAGE..,....., .,. eLNO.. 905 720-2004 .... ............................................. T I......1............ ........................ 1603 I-IWY2 COURTICE . . .. . . . . . . . . . . . . . .. . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . .. . . . . . . . . . : . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 03010, onvbrduo`rmaebn roeFw9.akFe me.ed.Tx'.fm.wm,4.ay.ebOrrn ivbwvdmpA-amdxmna..umr ,s ..,.,.mN./w~mv~wodvu.apoNaedv..pwA r~v~mm+docfAw^vbr`.i.^pr+'yv~epdme a. mMmd p..+~nv. Fwm lea Rev. 03/2010 PoPe~ofS WEBFOrms"'RhrR010 ~~ ~, Schedule A F«m~oo A.acianm hr uu a tl~e Rwinn of Onbrie Agreement of Purchase and Sale This Schedule is attached ro and forms part of the Agreement of Purchase and Sale between: BUYER..152925D.Optaric.Iuc :....................:....................................................................................................... and SELLER, MunicipalitX.ofClariagton ........................................................................................................................... for the purchase and sale of .162. George Reynolds.Drive,,Coprtice_ ............................................................................... Clarington, .. dated the 24th .................................. day of Match.. ....... 20.10.... . Buyer agrees ro pay the balance os Follows: The Buyer agrees to pay the balance of the purchase price, subject to adjustments, by bankdtaft or certified cheque, to the Seller on the completion of this transacton. The Buyer agrees to submit a deposit of FIVE THOUSAND DOLLARS ($5,000.00), to Ryan Realry Services Ltd., Brokerage, by negotiable cheque, at the time of notification of fulfilment or removal of the condi6oa pertaining to Council Approval, to be held in trust pending completidn or other utminazion of this Agreement. This amount is to be credited towards the purchase price oa completion of this transaction. The Huyer and Seller aclmowledge that the lots are fully serviced with water, hydro and gas and that building permits aze available. The Seller agrees to provide the buyer with any surveys, engineering reports and environmental studies on the said property upon acceptance of this agreement. ~ ~Ij~ T§w.SeBrragrrertrrpravide:e hl h re d 'i a" 'F ~~~nr~. ~ Fv)V,v1 'lyec tt d-BxS eraekser~"g n -th ttitle to heI r mayhem^'^' aW:e.Bryrec'=option. `~/ The Seller and Buyer acknowledge that the closing date, at the Buyer's option, will not be earlier than May 1, 2010 and not later than December 22, 2010. 3o d ~ . /~- ~ ~ ~7~~~" ~ ~ v>/tde~ 1 R t+ /', ~-r K f (d'l rp (~ ^rU ~ tM+sI Y~C Grlot7/ c~ //~ J 0 I~~vV This form must be initialed by all parties to the Agreement of ® osmo. ...,.... %M ^m INITIALS OF SELLER(S): f wpm Fmm 100 Rw. O]/2010 Papas dS YJEBFame"'Mar201o ~~e Schedule s F=mP ios J.~ Rd~Eade b rr ~n Re Proirce d Odwio ^~ai°^ Agr~eernent of Purchase and Sale This Schedule is attached to and forms part of the Agreement of Purchaseand Sale behveen: .............................. and BoYERr ...............-.5a.aa~o.......a(ur.~~fa.... ~N~................:......................... Munlci alt of Clann ton ....................................................................................... SELLER,........ ~...P.... ~Y ..............QQ....................................... For the property known as...... ~.V.2. G~R~AC,,.7.1~.~NOc'.45....DR_.....~},~p,2ncE .........:.....:..... .,... dated the .............L'Q.~*~...:....... day of ././!.1~~..,....... 201..... . '~ ~{1 fl~ ~7 r~ l v' '~ This offer iscondi[ionaluponMurticipatcouncilapprovalwitl~int}dtry~ealttndxrtl~ysaLarc•pr rrn ~».failing which this offer b null and void end the buyers deposit is rotumed in full without interest or deduction. This condition is included for the benefit of the seller and may be waived at their sole option. _ The buyer agrees to: - adh«e toihe the tot grading plan as provided by the seller at a later deco. pay fora $350 street boulevard oee to the Municipality pay $500 for a road damage deposit m the Municipality pay a base price of $200 for a curb cut to the Municipality and the buy« is aware there may be Additional costs /, pay GST (prior to June 30, 2010) or HST (after July I, 7A10) in addition. ' ` . ~°~YI' The buyer is aware that at tune of building permit additidnal, levies arc [o be paid including: `f~ regional $18,521 municipal $13,785 educational public $ ~ 835 separate S 364 ~- The buyer is aware that these are 20101evies end subject to review lone 3Q, 2010. The buy« is responsible to verifyand sa[isfy themselves as to all vests and levies for this lot. The buyer is aware that this a form« site of a Fire Hall and that a Phase 1 and Phase 2 Envvorunental Site Assessmen[ has been done and agrees to purchase the lot as is. _ The buyers enters omo these pmperdes at their own risk and liability. , The buyer is aware that the lots at 182 George Reynolds Drive require fencing on the west sidesad 194 George Reynolds Drive require fertcing on the east and noNt sides. All fencing is subjec[ to Municipal approval. This form must be initialed by oll parties fo the Agreement of Purc and Sole - INRIALSQF BUYER(S):. ~ INITIALS OF SELLER(S): 02008. nnnri Rcl Eeae N,earriolm l"OxG~. M dRM nr+wed: Th'u b,m .m decal bY. w o~d,prodsao~i. . ~bir.d ~Pda mwaddar.. Form 105 2008 nape 1 of 1 oI Rr mem6rn and Yraran, my. My dho w wmgodoaisn u pvh' °Y°Pl ~ YVEBFams° Nw1200i Scr-i~~c-E"C- - ~ ~ ~ M.:9£~L 8 ... ~ D4`9£ 3 o .. - .. - ~~.: 9 latld ' 'fi 6 . R W 5 ~ ~ p£,iYAI N M ~ s 1~ - ~ ` ry „ ~~~ `Z 8 r e . ~ 1 ~ ° ~ lavd> ~°6~ 1 ~ ~ ~. 1 ~ . ti - ~ .. 1. Q~ ~ p9 Lf yy. • ' L N $ £ laYd d ~ ~ ~~~ ~ }~ - ~ ~ M ~,tY.9L N - S ~~~ - H , Q ~ . Z - ~ _ - ~~_:. ~ G Z ` 6 Z laVd ~ • ,~ 8 8~ ~ ,~ - ;, ~ r , ~ ~ ~ g6 i 10~ $ ^ - d ~~ ~- 9 ' £9'L£ M «a~'.9L N ~ ~ ~ e 3 ~ ~ laud _ V - ~ 4 $:. - . ~~ ~ E~ Confirmation Of Co-operation Farm 340 and Representation ~ °°° i° *° „°„,~ of °°~°,ia ~~E. Municipality of Clazingtou..,...__.....__..,.._,: for Ih¢ honsadiw on the propery known °.:186 George Reynolds,Drive,. Courtice ..................................... Glaring[on....,,............................... Far the purposes of this Cordirmaban of Cooperason and Represenmlion, v'Seller" indudm v vendac o hndlord, or o prospective, sellem vendor a landlord °nd v "Boyar indudvs a pumhaser o moon[, or o pmspedive, buyer, purchaser or moan[ and p'sole" includes o loose. Ilse fdbwirsg infomatlon Is oortflrrrlsd lryfhe undsnignad sokspenosr/Mokar npreFSnMivss of the erokaroge(s). B a Coropsrafirsg Broksngs - u imoked'm Hse rmnsoclioM Ilse brolurvges agree b so-opsela. M casssidersrlion rd, and on the bans and eend'aiau m set we beloav. DFCU1RA710N OF INSURANCE[ Ths unsfanigned wksperwn/broker ropronmaKvs(s) of be Brak~roge(s) breby dxlon rhos Ise/~hs is Insured as rotprirad by fha Real Esbb sod easiness Broken An (REBBA) and Reguleliaru. 1. LISTING BROKERAGE The Listing Brokerage represents Ne interests mf[he Seller m this transaction. .. COL`PERATING BROKERAGE The Co-operating Brokerage represent the interests o(the Buyer in this transaction, It is further understood and agreed that [he Listing Brokerage will pay the Coroperating 8rbkemge © fie commission as indicated N the MIS® information fm the property m, if Doran MLS® listing: ^ a commission of .....................................:..................................................................................................: plus applicable Goods and Services Tax, from the amount paid by [he Seller to [he Listing Brokerage, on any trade wherein [he Cooperating Hmkerage hea obtained an accepted Agreement ofpurchase and Sale, option m Purchase or Agreement m Exchange and/or Lease. Said paymrnt of commisaio¢ will nm make the Coopuatiag Brokerage either the agent msub-agent ofthe Sella or the Listing Brokerage. Additional comment md/or diaclosmes by Listing Brokerage: Additional wnlment and/or discloswes by Co-0perating Brokerage: [e.g. The Co-operating Brokerage represent more than Doe Bttyer offering on this property.] COMMISSION TRUST AGREEMENT: IfNe above Cv~apoadag Bmkeeage is raivmgpaymevtofcommusim from Ne U¢riag Hmkvagq then the egmemrothetwxro Lb Hmkerege and Coapmadvg Hmbaege fuMpr wcmdc n Commissiov True Agreement, the covaiderazim far wbicb u me Cv~opentmg Hmkaage procuringro otter Fm a vac the pnpemy, e¢epmble m the Seller. Thu Comvdssimi Trua[Agreemmt shell be subjett m W govervM by the MLS® mlca and rtgumtiov¢ permmivg m commiebm W¢a °'. lietiog Bmkmegck bcal real eras bowl, ifine bcal bomd'r MISB nde¢aad rtgulatious sv ptmide.OWawise,am pmvuima of the ORrsA recommaWcd MLS®rulm mtl rtguledovs shell apply m thu Cotvmissiw Trte[Agrtmov[. For tlro purpose of this Commission iron Agrtemm~t, me Comminioo Trurt Amomt ahdl b the mwwt voted al lbe Luting Brokerage hereby dslem r>mt aU monies mxivW iv mvvemov wiW the hade aldl cvasdmtc ¢ Conmiesim Tnot and sbdl be held ie amt for dw Coaperttiug Hmkmage uvdm Nc rams oftbe applicable MIS® ndm and mguleeme. SIGNED BY THE BROKER/BAIFSPERBON REPRESENTATIVE(Bt OF 7HE BROKFRAOEJS( (Wharoapplkabls( Ryan Realty Services Ltd., Brokerage ...........................:........... MINCOM MILLENNIUM REALTY INC, BROICERA 1Nhne offisfin9 a.. ..age'......._ ... ..............._ .}Jan'..~........_rdiiiiglBuyer gioGeiopeJ................................................... 39 Westmore~treet; Cotutlce 4603 H2 COURTICE eh.. 5-4 -5128. Fax 905A33-8735._..__._._,,._ 05]720-2004 per: [905]720-300Nn 6, l fH 3 - ZY _ ~.t.D .... .... ................._...... .. ................. t 1 J[[.t.L,E L ............................... .. Dok:...................................... .. .. .............:............. Dom:....... . . 4uR,onzed ro bind l ~ e 8r s ~~ /Buyer Brokerage) ~~" Z~. l m _~ FERMs~APtI~I{B ...:........................................._..._....... .........................~_....................... .. ..... .............. _................... .. not Name olBmkm/Solo Re esenbtive al de Brakera 'rim Name d Bmker/Solesperson Repro Iro of tl,e Br°kr°pei perms pr gei CONBEN7 FOR MUITIPIE REFBE TION (fo bs completed only if Ors Brokarags nprawnb moo than one cgenr for dse frvnsaa0oni The Seger/Buyer <enseM wirlt Hseir ini8ols b their Brokerage O nprssemine men than ono client for Ntis tronsacfion. - ~ rs xaruls etrcsR•s fumAu ACKNOWIE hew ra< ,read and fond file ab issforuumation. (~ _ -ryp / Date:.... ~..~ ..1.... .._b.... Dale:....I'Z.Y1.~.~........... ::_ "m fS<If... ~ zz ~~{{ H °iur of ~i II / . Dale:....N.~Z.L.... Zp/O ....... _ ......................._....._.. Dale:......,................_............. ,pnoi~~e `ofs~ .4 .. ............................. iYignawre o}'Buyerj~ I"1 70na Onbdo Eavie Mximim l"OREA'1 Mi M rved Thbh wa deebpad 6y OREA for a- ,d ,od ,R , nsa m s use ° rep vd~on Fsmm Jf0 7008 P 1 of t el iv sambas and Icenem only. AnY oae w np°d„cran is prohibaed estop wiib p',u wdaen ¢nwnl d OREA. -_!W_- "-"" ~~ ~ Agreement of Pun;hase and Sale Form goo Im ~,r i" ~r r~.i"w eta"mo This Agreement of Purchase and Sale doted this. 24th ..........................:. day of .March.., ,,,,,,,,,,,, 20.10..... ...................... gUYEµr.1529250, Optario Inc. ...., a rees ro urchase hom "'(Fulllegal `wines of ull Bvyers(.•........ •........• g p SELLER, Municipality of Claringtoq,.,,...... - ,..,., the followin IFuh'legal names of~nll5elkri('~~"~~~' 8 REAL PROPERTY: Address. l86 George Reynolds Dnye,,Courtice .................................... fronting on the North.,, ............ .................... side of. George Reyoolds Drive ,,, in the .Municipality of Clarington and having a frontage of .49;5, feet . ... more or less by a depth of ,144 feet ....,,., ,more or less and legally described as .Concession 3 Part Lct 30 Plan 4082.5845 Part 3 ............................................................ ............................ ..... ........................................ Itha "properly"~. Nepal desuiphan of land including easements not desai6edefsew6ere) PURCHASE PRICE: - Dollars (CDN$).100J000:00 .............. One Hundred Thousaod ~ ...................Dollars . .................................................................................................:......................................... DEPOSIT: Buyer submih . ~ otherwise described in this Agreement emrith U 0n Acu ............................................ M / p prance/os otherwise deaoi6ed in Ihu Apmemant Five Thousand ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, potters (CDN$) 5 OOO.OD bynegotiable cheque payable to. Ryan Realty Services Ltd„ Brpkerage,.....,.,.,, ..,.,, "Deposit Holder" ro be held in host pandir~ cornpletron or other termination of this Agn?ement and ro be credited toward fte purchase Pdce on completion. For the purposes of this Agreement. "Upon Acceptance" shall mean that the Buyer is required to deliver thedeposn b the Deposit Holder within 24 hours of t{re acceptance of Ihis Asreement. The porties ro this Agreement hereb.~ acknowledge that, unless otherwise provided for in this Agreement, the Deposit Holder shall place tfie deposit in trust in tfie Deposit Holder's norrinterest bearing Reo Estate Trust Account and no interest shall 6e earned, received or paid on the deposit. Buyer agroes to pay the balance as more particularly set out in Schedule A attached. SCHEDULE(S) A.~ B>.C......... ... .. .. ..... . attaehed~rq~ form(s) part of }his Agreement. Seller Bu r i,KV9v1 1. IRREVOCAEtILITT ffer shall be irrevocable by.,a!!'f~.r...$E~~.°:~ until 5:00 „ pm on I K 1 ............... the 7}!lt..~~.r:...... ., day of MBT.F.h.. .,.,.,,, 2p,10.,. , aher which time, if not accepted, this Offer shall be null and void and the deposit shall be returned to the Buyer in full without interest. 2: COMPLETION DATE: This Agreement sholl f>e completed by no later than 6:00 p.m. on the .see schedule "A" „ doy of ............................................ 20.......... Upon completion, vacant possession of the property shall be given ro the Buyer unless otherwise provided for in ibis Agreement. 3. NOTICEk The Seler hereby appa nk the listing Brokerage as agentfor the Seller for fie purpose of giving and receiving noFices pursudn b Ihis Apieemeit. Where a Brokerage Buyer s Brokemael has entered inb a reomv3nMlirn mmm.,or,t,ma, &e 0.,",,. ~ R,..e. t.e.et,.. ar Acknowletlgem%11 below, Or where a fosimile number b prvvidt FAX No. , 905433-8735, , )For delivery of nollces ro Seller) INITIALS OF BUYER(S): R] mxmo.as~"aeis~saw"r"..rozun.,u ~1w ~.,...d.r m. rm..a, e..t,Rr q.oee r~+~ wraydar,,,,r„dsmbpda+ed.mp,..r, r,,,,."as,,,~.x doe>:w oe,eas.M, 905-720-3006..,....,, .IFor delivery of noticesro Buyer) INITIALS OF SELLER(S): Form l0a Rev. 03/2010 Pops i eF3 VrEBFOrms^' Maz/2010 4. CHATTELS INCLUDED: 5. FIXTURES EXCLUDED: 6. RENTAL REYAS: The following equipment is ranted and noT included in the Purchase Price. The Buyer agrees to assume the rental wntrocf(sJ, if assumable :....................................................................................................................... ...................................................................:.................................................................................................... 7. GST/HST: If Ilse sale of the property (Real Pro~erty,as a Scribed above) is subject ro Goods and Services Tax (GSTj ar Harmonized Sales Tax (HST) then such tax she I be.!9. ~de.!S!4!!.?0.. ... the Purchase Price. If the sale of (mdadeA'in%i"addition tot the Property is not subject to GST or HST, Seller agrees ro certify on or before closing, that the wle of the property is not subject b GST or HST. Any HST on chattels, if applicable, is not included in the purchase price. 6. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the .......................... day of...................................., 20......., (Re uisition Date) to examine the title to the Property at Buyer's own expense and until the earlier of: jiJ thirty days from the later of the Requisition Date or the date on which the conditions in this Agreement are Fulfilled or otherwise waived or; (ii) Five days prior to completion, ro satisfy Buyer that there are no outstanding work orders or deficienry notices affecting the Properly, and that ih present use ( .......................:.... ............................................:...................J nwy be lawfully continued and that the principal building may be insured against risk of fire. Seller hereby consents Io the municipality or other governmental agencies releasing ro Buyer details of all outstanding work orders and deficienry notices a acting the propery, and Seller agrees ro execute and deliver such further authorizations in this regard as Buyer. - may reasonably require. 9. FUTURE USE: Seller and Buyer agree that there is no representation or warranty of anyy kind that the future intended use of the property by Buyer is or will ba law(vl except as may be specifically provided for in this Agreement. 10. TRLE: Provided That the title ro the pro trryry is good and free from all registered restrictions, charges, liens, and encumbrances except os otherwise specif~calfy provided in this Agreement and save and except for (aJ any registered restrictions or covenants that run with the land providing that such are wmplied with; (bJ any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been posted ro enwre compliance and completion, as evidenced by a letter from the relevant municipality or regulated utiliy; (c) any minor easements for the supply of domestic utility or telephone services to the property or adjacent properties; and fdJ any easements for drainage, storm or sanitary sewers, public utiliy lines, telephone lines, cable television lines or other services which do not materially affect the use of the properly. If within the specified times referred to in paragropfr 8 any valid objection ro title or ro any outstanding work order or deficiency nofice, or ro the fact the said present use may not lawfully be continued, or that the principal building may not be insured against risk of fire is made in writing ro Seller and which Seller is unable or unwilling ro remove, remedy ar satisfy or obtain insurance save and except against risk of fire (title Insurance) in favour of the Buyer and any mortgagee, (with all related costs at the expense of the Seller), and which Buyer will not waive, this Agreement notwithstanding any intermediate och or negotiations in respect o such objections, shall be at an end and all monies paid shall be reNrned without interest or deduction and Seller, Listing Brokerage and Cooperating Brokerage shall not a liable for any wsfs or damages. Save as ro any valid objection so made by such day and except for any objection going to the root of the title, Buyer shall be wnclusively deemed to have accepted Seller's title ro the properly 11. CLOSING ARRANGEMENTS: Whore each of the Seller and Buyer retain a lawyer to complete tlse Agreement of Purchase and Sale of the Property and where the transaction will be completed by electronic regishotion pursmnt to Part III of the Land Registration Re~orm Ad, R.S.O. 1990 Chapter l4 and the Electronic Registration Aa, S.O. 1991, Chapter 44, and any amendments thereto, the Seller anti Buyer ocknowled a and agree that tlse exchange of closing funds, non-registrable documents and other items (the "Requisite Deliveries and the release thereof to the Seller and Buyer will (a not occur at the same time as the ragislration of the transfer/ sect (and any other documents intended ro be registered in connectioowith the completion of this transaction) and [b) be subject to conditions whereby the lawyer(s) receiving any of the Requisite Deliveries will be required b hold same in Tust and no} release same except ~n accordance with the terms of o document registration agreement between the said lawyers. The Seller and Buyer irrevocably instruct the said lawyers ro be bound by the document registration agreement which is recommended from time to~time 6y the Low Sociey of Upper Canada. Unless otherwise agreed ro by the lawyers, such exchange of the Requisite Deliveries will occur in the applicable Land Titles Office or such other location agreeable fo both lawyers. - 12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any title deed, abshnct surveyor other evidence of fide b the property except such as are in tlse possession or conhol of Seller d requested by Buyer, Seder will deliver any sketch or survey of tlvu properly within Seller's conhd to Buyer as soon as ssible and prior to tlse Requisition Date: If o discharge of any Charge/Mortgage held by a corporation inwrporoted pu ant to the Trust And Loan Companies Act (Canadaj, INITIALS OF BUYER(S): INTIALS OF SELLER(S): O I~osoiname rdssa bmaml~9uada ~a~^d. m.wa.a. d...~.d ~roeuts.' damna..cM S~® 1s.JJ..~]~ ".M.gm.d~.~.. v~vd~amapdb~®p.M Pbrne.~aarido~t w.bdr..i.~r~.a~q>npoborek+~^d^dv~w~~m Farm 10D Rev. O]/2010 Po5e1of5 NFEFmna^'Mar2010 Chartered Bank Trust Company, Credit Union, Caisse Populaire or Inwrance Company and which is not ro tie assumed by Buyer on completion, is not available in registrable form on completion, Buyer agrees fo accept .Seller's lawyer's personal undertaking ro obtain, out of the closing funds, a discharge in ragisfrable form and to register same, or cause same to be registered, on title within o reawnable period of flme after completion, provided that on or before cemplefion Seller shall provide to Buyer a mortgage statement prepared by the mortgagee selling out the balance required ro obtain the dixharge, and, where a rea4Nme elechonic cleared Funds hansfer system is not being used, a direction executedb~. Seller directing payment ro the mortgagee of the amount required to obtain tfe discharge out of the balance due on wmpfetion. 13. INSPECTION: 8 e_r acknowledges having had the opportunity to inspect the propery and understands that upon acceptance of this Otter there shall be o binding agreement of purchase and sale between Buyer and Seller. The Buyer acknowledges having the oppormniy fo mdude a requirement for a property inapoclion report in this Agreemem and agrees that except as may be specifically provided for m ihss Aareemenq the Buyer vRn"11~ not bo obfainmg a property mspecKon or property inspeNion report rogardmg the property. 14. INSURANCE: All buildings on the propsrry and all other things being purchased shall be and remain until comQletion a} the risk of Seller. Pending completion, Seller shall hold all insurance polices if any, and the proceeds thereof in bust for the parties as their interests may appear and in }he event of substantial damage Buyer may either terminate this Agreement and have all monies paid returned without interest or deduction or else ta~Ce the Proceeds of any insurance and wmplete the purchase. o insurance shall be transferred on completion. IF Seller is taking back a Charge/Mortgage, or Buyer is assuming aCharge/Mortgage, Buyer shall supply Seller with reaxnable evidence of adequate insurance-ro protect Seller's or other mortgagee s interest on complefion, 15. PLANNING ACf: This Agreement shall be effective ro create ari interest in the property only if Seller complies with the subdivision conhol provisions of the Planning Acf by completion and Seller covenants to proceed diligenfy at his expense to obtain any necessary consent 6y completion. 16. DOCUMENT PREPARATION: The Transfer/Deed shall, save for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge/Martpage to tie rven back by }he Buyer ro Seller of the expense of the Buyer. If requested by B er, Seller covenants ttrat the Transfer/Deed to be delivered on completion shall contain the srotements contemplated by Section 50(22) of the Planning Act, R.5.O.1990. 17. RESIDENCY: Buyer shall be credited towards the Purchase Price with the amount, if any, necessary for Buyer to pay ro -the Minister of Notional Revenue ro xtisfy Buyer's liability in respect of tax payable by Seller under the non-residency provisions of the Income Tax Act by reason of this sale. Buyer shall not claim such credit if Seller delivers an completion the prescribed certificate or o staturory declaration that Seller is not then anon-resident of Canada. I8. ADJUSTMENTS: Any renh, mortgage inferesL realy fazes including local improvement rates and unmetered public or private utility cfwrges and unmetered cost of fuel, as a pliwble, shall tie apportioned and allowed ro the day of completion, the day of completion itself ro be apportioned to Buyer. 19. PROPERTY ASSESSMENT: The Buyer and Seller hereby acknowledge that the Province of Ontario has implemented current value assessment and properties may be reassessed on an annual basis. The Buyer and Seller agree that no claim will be made against the Buyer or Seller or any Brokerage or Salesperson, for any changes in property roz as a result of a reassessment of the property, save and except any property lazes That accrued prior ro the complehon of this hansaction. 20. TIME UMRS: Time shall in all respects be of the essence hereof provided that the lime for doing or completing of any matter provided for herein may be extended or abridged by an agreement in writing signed by Seller and Buyer or by their respective lawyers who may tie specifically authorized in that regard. 21. TENDER: Any tender of documenh or monoyy hereunder may be made upon Seller or Buyer or their respective lawyers on the day se} for ~omplotion. Money may be tendered by bank draft or cheque certified by a Chartered Bank, Trust Company, Province of Ontario Savings OfKce, Credit Union or Caisse Populaire. 22. FAMILY LAW ACT: Seller warrants that spousal consent is not necessary ro this transaction under the provisions of the Family Law Ad, R.S.O.7 990 unless Seller's spouse has executed the consent hereinafter provided. 23. UFFI: Seller represents and warrants to Buyer that during the time Seller has owned the property, Seller has not caused any building on the Propery to ba insulated with insulation containing ureaformaldehyde, and that ro the best of Seller's -knowledge no building on the propery contains or has ever wnroined insulation that conFains ureafonnaldehyyde. This warranty shall survive and not merge on the completion of this transaction, and if the building is part of a mulfiple unit building, this warranty shall only apply to thoi part of the building which is the subject of this hansadion. 24. LEGAL ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the brokerage is not legal, tax or environmental advice. 25. CONSUMER REPORTS: The Buyer is hereby nefified that a eonsumor report containing credit and/or personal information may be referred to in connedfon with this transaction. 26. AGREEMENT IN WRITING: If there is conflict or dixreponq behveen any provision added fo Ihis Agreement (including any Scheduk:.aBached frerero) and any provision in the standard preset portion hereof, the added provision shall supersede the standard preset provision ro the extent of such conFlici or discrepancy. This Agreement including any Schedule attached hereto, shall constituk>he entire Agreement beMreen Bvyer and Seller There is no represenMtion, warranty, collateral agreement or condiHan, which affects this Agreement other than as expressed herein. For the purposes of this Agreementr~~S~eller moons vendor and Buyer means purchaser. This Agreement shall be read with all changes of gender or number required VY the conte#. 27. TIME AND DATE: Any reference ro a time and date in this Agreeme~l shall mean the time and dale where the properly is located. INITIALS OF BUYER(S): INTIALS OF SELLER(S): O ® mmt4 amn rml•.. ~ere~raRU'i. N~p1a~w.R:.lum vw dn.bpdb,aRNbbw i.paduSSdn mnb,ad'~m~~ sAr.wnd.w.ar.puW'~meprefard®p.aAa'~...w.~~.ndaaH. oo.pdr.M WYrev~~~g r..wMod a~+w~m~ ro.m i00 Rm. 03/2010 rae~JefS WEeFOrmaTMMarrzma 28. SUCCESSORS AND ASSIGNS: The heirs, executors, adminishators, successors and assigns of the undersigned are bound by the terms herein. SIG D, SEALED AND DEWERED in fhe presence oF. IN E55 w eoF ove hareenlo sel my hand and seal: ~Me..,.....' ............................................................... .~.~_.....................................:................................. I. DATE....:.............................. 1, the Undersigned Seller, agree b the above Offer. I hereby irrevocably instruct. my lawyer to pay directly to the Listing Brokerage the unpaid balance of the commission to ether with applicable Goods and Services Tax (and any other taxes as may hereafter be applicable), from the proceeds of the sale prior to any payment to the undersigned on completion, as advised by Abe L130rLg Brokerage to my lawyer. DEWERED in the presence of: IN WI E55 wher I hove hereunb sel my hand and seal: , ~ ............. ..............................................IS ....G........... ./ktrF-. +^~............ ~t DArE.!!~'w1~~D ~ ............................ js~14.~. .................................................................. ICI DATE................................... SPOUSAL CONSENT: The Undersigned Spouse of the Seller hereby consents ro the disposition evidenced herein pursuant to fhe provisions of the Family Law Act, R.5.0.1990, and hereby agrees with the Buyer dlat he/she will execute all necessary or incidental documenh io give full force and effect to fhe sale evidenced herein. ......:.......:....................................................... ................................................................................ ~1 DATE............................ ~me>if ISPwrI Dml ....... CONFIRMATION OF ACCEPTANCE: NoMrithstanding anyd3ing contained herein to the conhary, I confirm this Agreement with all changes bosh NPed and written was Bnally accepted by all parties at.....y.7..~.arm.lp. i ........ ~ day ,y/ .. ......I .................. /~ (Sipe rcdSewvBvya Lwtrrg amkemge. Ryaa Realty Services Ltd., Brokerage ~ ............ TeLNo_9054345128 .............................................................................................. 39 Westmore Street CouEtice Coop/Buyer &rokarage. ~~..~... COM MILLENhIIUM REALTY INC. BROIERAGE TeI.No..~905]720-2004 - . ...............................................................r........................... ...... ................................ 1603fTWY2 COURTICE doe ACKNOWLEDGEMENT Purdio fond SaecewilIlwgN ~~ ~~ d kis ofawUnprd c~opy~eM I~2 /r~a on~'i '../.`..~....".~ ...................... DAZE....................... Idle;j ........:........................ jail........ Address for Seller's Lovyer ...................................................................................... .................................................... FA%Nv. fCR ORICE USE OIJLY riOE1MIFNON IltUFT A0IDFMEM io: eoaPPeeraiirg Brv4eroBe shown w ~M brepeivg ~ . i d Pwchne. end sd.: MINCOM MILLENNICIM REALTY INC., BROKERAGE M wMtlemROn for d`e Cvapemd BmkraBe pmwn~g he bregving Agreemem d PurcMrc vnd Sde, I hereby dedva Ihvr vll moneys received a,ac.iveble by me In wnn.nion wilt. Ne TmnsvcBVn vs cvn~enaa6ad In~e MLSdD Rule vnd RedBUlvsvna d my P~vl Earoe Bvvrd boll be rcmiwbb and heN in I,u4. This vgreemenr (hell cwssmsr v Canmiuion Tmnlg~mnen! vv del;ned.v Rw MLBEI Rde. vnd shall be subjs~~orn Bwemed by tlm MLk90.da perbmivB io Canm~aien Twl. vs d e dva end Rme yr the aoagvnm d R,e begvi,q Agreemril of Purclaw vnd Sole. Ac ed by: _. ............................._..............._.............................. Pr ertgel Ia,IMdmd ro bind he lisdng BmLer~e ~ ~IAmh ¢w1 b bind Nre Coo Ming Brak ® 02ala.Omb belf+r Pmau rail. Mnp4 nr.d.ll:r bmwd.elpdbyOlFA bb waidipoi bidle.sib..ud ian~a aA+Ary eAi.oaw,ev~tlvnbprohlbidey vibp'v ~nrM mrmndORra OO midlx Anprewreai.pedegl. mdWpwlpvsm Farm 100 Rw. o3/2010 Page 4ef5 weeFO+ns°A1ernB30 Address ICY this a«pkd Agreement of b forward a copy Iq my I /~ r. ............... DATE...vL~~ t!.... ............... DATE...................... Lawyer ...................................................................................... ~~ ~ Schedule A tm uz in the Pro.Fce aF pnOO Agreemalr of Purchase and Sale This Schedule is attached to and forms port of the Agreement of Purchase and Sale between: BUYER,.1529250, Ontario Inc. ....... ............................ and SELLER,.Municipalitx ofClaringtpn .............................................................................................................. for the purchase and sale of .186. George Reynolds Drive, Courtice ...........................:................................................................ Clanagton ....... dated the 24th ....... .............. ~... doy of Maich........................, 20.1D.... . Buyer agrees fo pay the balance os follows: The Buyer agrees to pay the balance of the purchase price, subject to adjustments, by baok draft or certified cheque, to the Seller on the completioo of this transaction. The Buyer agrees to submit a deposit of FIVE THOUSAND pOLLARS ($S,000.OOj, to Ryan Realty Services L[d., Brokerage, by negotiable cheque, at the time of notification of fulfilment or removal of the condition pertaining to Council Approval, to be held in trust pendirig completion or other termination of this Agreement. This amount is to be credited towards the purchase price on wmplefioa of this transaction: The Buyer and Seller acknowledge that the lots are fully serviced with water, hydro and gas and that building permits are available. The Seller agrees to provide the buyer with any surveys, engineering reports and eaduonmental studies on the said property upon acceptance ofthis agreement. - / j~~f/f~~ .~ U.d6~C"9 h '` on.~ The Seller and Buyer acknowledge that the closing date, at the Buyer's optioq will not be earfier than May 1, 2010 and not later than December 22, 2010. j 0 drr.p ~(-t @ I'rU.c~e~~f' ~ fsQ ~h.o Yr ofod vl b r : {+ r.~.t tafr,s; This form mus} be initialed by all padies fo the Agreement of Purchc ^nd Sole.. ~~ INRIALS OF BUYER(S): ~ INRIALS OF SELLER(S): C K )i ~exo~o,awe uoism.aawm.{oafwl. w,pie ~,.w.no,vm„m.t..~dboerwwe. ~ - dA ewMnvoN ~... ~~ ay.nMd..wv~yoem,epotibwa ermp.M puwiin miwdaeFA OO.ualwvl~m, were v,yodegr. medod perponm Fwm lOa Rev. Q7/2010 Papeaefe wsaForma^'starrmlo ~~ ~ ScFiedule B r;rm fos Agreement of Purchase and Sale ~' "" " r" "°"`"° d Onb"° This Schedule is aaached fo and (ones part of the Agreement n{ Purchase and Sale between: B~,~~. .................l~aQ~~.....QN~R~U....1~iC ~.........................:.............:.................._......, and Muntci ali , of Clann on ........................................................................_,.:..:.................................. SELLER.............P.... EY.........1..Q..&t.....~.;..~.^ . for the property known as.....1.U~...1.bWt`A.1C....~.1^....~K.,.....h~UK.1.,^~,.,L' ............................. .. dated the ...........S7Lt'E~ ................ day of ...MP1RC.~-~-..,........, 010..... . "7 'r f ~ _ ~ failing This offeris conditional upon Municipal council approval which this offer is null and vbitl and the buytts deposit is mtumtd in foil without interest or deduttion. This condi[ion is included for the benefit of Ibe seller and may be waived at their sole option. The buyer agrees for adhere tothe the lot grading plan as provided by the seller at a later date. pay fora $350 street boulevard tree to the Municipality pay $500 for a road damage deposit IO the Municipality pay a base price of $200 for a curb cut to the Municipality and the buyer is aware there may be additional costs . /~ pay GST (prior to Jnne 30, 2010) or HST (after July 1, 2010) in addition. AlLfegiagt~+ee ~~'( The buyer is aware drat at time of building permit additidnal levies ere to be paid including: ~ `~ regional $18.521 municipal $13,785 .educational public $ 835 separnte $ 364 ~ - The buyer is aware that these are 20101evies and subject to review June 30, 2010. The buyer is responsible ro verify and satisfy themselves ae to all costs end levies for this lot. The buyer is aware that dtis a former site of a Fire Hall and that a Phase 1 andPhase 2.Environmentel Site Assessment has been done and agrees to purchase the lot as is. The buytts enters onto these properties at their own risk and liability.., Thebuyer is aware that the lots at 182 George Reynolds Drive require fetwing on the west side end 194 George -Reynolds Drive require fencing on the east and north sides. All fencing is subject to Municipal approval. This form must be initialed by alt parties to the Agreement of Purcha nd Sale. _ 'INRIALS,OF BUYER(S); -INITIALS OF SELLER(S): 920D8, Ongri tad Eebk Auocianm rOFEA~. M ~ph4 ro»ned: this Idm wa' DRFA biw tit and repdwwi - diu mm~Senand llvn,eu wJr.Mya+'+rur xnpodxum uprolubiwd anp'.»9h p'v 'xn mn.MddsFn Fmm 105 2008 Vegeldt. NIEBFwma^' NwROD] ;~ ~~ 6 e~ W C CY a ~-~ - ; ~ s iavd ~ 6~ ~ ~ ~ s R W M Yy,4YS1 N ~ c 1 ~_ N z° ss 1 ~ 1 ~ ~ la'dd'. p/f ~t ~' ~ ` (J~ 1 ~ -.. - ~ 1 - ... 1 R pi'It m ~. ~ . ..a „otc+.9+ N ~~ ~ 1 Z laWd ~ • ~/ vL ~ laud /~ _g v AC.LYWI N ~ .. ffi ~= y s iavd 1 9g~' ~"~ ~~. s ~~ M .~F~1 N - n 1 Q L6~ H ~~ ~~ Confirmation of Co-operation Fero, azo ""°~°~°' and Representation mr a,a in lh. fm.inr. d onm.m nUrER:.1529250 Ontffiio.IBC. ~ ....................... .. ............................................................................................................................................................... Mrmici ali of Claris ton - SEBER :...............('.....tY...................Pa............................................................................................................................................................................ Bw the hanraonan an Iha propery kiwwn aa:.19D George. Reynolds Ihive, Cotvtice , .,,, --.,.,. Gloria on Far the purposes of this Cmfirmalion of CoopnWian and Representation, a'Setler' ~ndudes a vendoq a hndord Pr o prospedlve, seNeS vendor or landlord wail o'Buyer" includes a pvchvseg a Mnonl, or v prospective, huyer, purchaser or senam and a'sale" includes o bau. The iolesvin9'vdermotien 4 codlrmed by Rw rrrd®signed sobgrerson/6rekernprasentasivss of she Rrokaroge(si.8a Co~aparererg Erokenge is invdved'n Ilb trmuodian. Ilse brvkewges ssgres b mapratq b wnsidarotion dr aril en dse brsrss and epsdsions w eat out bebsv: DFMRA710N OF INSURANCEt TM undersigned wkgrenat/broksr repromnsotive(tJ of dse Brokerage(s) hereby tlaclaro then he/she is iwured es required by Nss Rml Esrab and Business Broksrs Ael [RE88A) and Regulsdions. _ 7. LISTING BROKERAGE 17re Listing Brokerage represents the interests of the Seller ie this DmsaMion. 2. CO.OPER4TING BROKERAGE The Co-operating Brokerage represents the interests of [he Buyer in this trmsaction It is furtherunderstood and agreed that the Listing Brokerage will pay the Coopemdng Brokeragr © the commissim as indicated in the MIS®infdrmation for the property or, ifmtmMLS®bsting: ^ a plus appficahle Croods and Services Taz, from the emamt paid by the Seller to the Listing Brokerage, on my trade wherein the Co-operating Brokemge has obtained m accepted Agrxmmt ofPwchese roil Sale, aptlm to Ymchase or Agrcanm[ to Cixchangc mNar Lease. Said - ' payment of commission will not make the Co-operating Brokerage either the agent or sub-agent of the Seller or the Listing Brokemgr. Additional comments and/or disclosures by Luting Brokerage: Additionat mmmenis miller diacloeures by Co-opemtiug Brokerage: [e.g. The Co-operating Brokerage represents more than one Buyer offering m this property.] COMMISSION TRUSTAGRIDvtENT: IfNe above Co-operetlvg Bmkmage is rxdvingpaymrntafcommission from tie Listing Brokerage, dxn tie egeemembatwan Listing Bmkenge erW CoopavanBBrokerage fwther include a Coimnivvioa True[ Agrtamev4 rb<roraidcretion fm which h We Co-opaadng Bmkengc prv wring an offer fare nWe of me pmpeny, acceptable m the Biller. Thu ComminimTrostAgmemmt shall be subjem m aM govvned by she tdLSe rile and rtgulstiove pendvmg m commiavon wsa ofine Listing Brokemgds mcd rut amen board, ff sbe lain board's M3.5® rams end regdetiaos w pmvide.ONerwive, the pmvisiwis of We OQEA reroromeotletl MLB®mka erW rcgaiedovs ahdl eppty m thk Commisssov Trwt Agemau4 Fw Nepuryox ottbis Commkaim Tms[ Agrcanev[, We Commission frost Amo®s shill be sbe emoovt voted about. The Listing Brokasge hereby dmlares thmall mania rtzivN m conrxctbn with the cede shell consemm a Comminiro Trust eM shell be held, k mu4 far tie Co-opem[mg Brokera8e uncle themms of Ne eppli®ble fdI,9A rule soil reBulatlom. STONED Br THE BROKER/SAIESPERSON RFPRESENTA7IVE(Sl Of THE.BROKERAGE[Si (Whero applkeblal Ryan Realty Services Ltd.t.Brokerage.-,...,..._..__,.,.,.,.,,,_._.._._ MINCOM MILLENNIUM REALTY INC., BROKERA6 iName ofiiiiing BroLnroee~ .............. 'Nom'h'dF'C'oo n'ng/9vyc'r9ioia"o96(..........:......................................... 39 (more Street, Courtme 4603 HW~2 COURTICE ,l. 905 434-5128 .:............ taz: 905-033-8735....,.,,,,,,,,,,,,-._.._._,-, T 5]720-204.„.._,-,.,,.,,, tOe; [905]720-3006.,,, , ., „_,... CONSENT FOR MUOIPIE REPRESENTATION (b be cemplebd only R the eaakervge ropresesds moro than arse diets far Ilse tronsocdon.) The Seller/Buyer canwrd with their initials ro their erokarage O rsspresenKny mero Ilsan one client far this fransaNien. z woos auras tnrruts ACKNOWLEDOEM t h rec((e~~ived, ,and senders nil Meaboro'vderm~ssan~~own.-, ...................... +~+~..~ ... ' Ovm: ~..G.7 `j .__. Dale:. SGyI/U.._._.. . r o .. . ofseMe .... _ .... I ,........... Dam :.............................. ... ~ign~ rcdl3~elle}....... ... i5igmmrc oT6oyer] ..............._... .. Dam:...................................... 0 2(aJB, Onada Rml Enre Anoaoaon l'OREA'l. M rgha rexrnd. Thk mm. wu, da,dopvd by ORFA br,lhe ux ond,q.adwaon Foam 310 20pB Page \ t t d in mem6ec oM Yrenxa. only. AnY ehx ux w rewwiaefian h Pmhibaad eimp with Paw wien control of OaFA ^'- ~o m ~~ ~~, Agreement of Purchase and Sale Farm loo Avsecunm for w3 in the Pmvinra of Onlono This Agreement of Purchase and Sale dated this..24th ............................ day of .MaTCh..................................... 20.10..... BUYER,.1529250_Ontario lac.,, .... ......... ..... .......................................... agrees to purchase from ~~~~~~~~~~~~~[Fulllegal names of cI Buyers[~~~ SELLER, Municipality,of Claziagton..._.....,, , .................................................... the following IFvll legal names oF~olf $alfer{~~~~~°'~~~ REAL PROPERTY: - Address. 190 George Regnolds. Driye,.Cosutice..,.,.,,,. ,,,,,,,,,,,,,,,,,,,,,,,,,,_fronting on the NP.r.~?....................... side of. George Reynolds Dnve .......:..... in the Municipality of .... Clarinp,ton.................................................................:..... and having a frontage of .495. feet ,,,,,,,,,,,,,, more or less by a depth of .137.feet ., .,,.,._, more or less and legally described as Concession; 3 Part Lot 30 P1aa.401R25845 Part 4 ,,,, ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, ............................... ......................... ............................................... (the "property"). ~~[I,:gol~aescriplibn~of~fand'incfudirg7 easements not described~etsewhere) ..................... PURCHASE PRICE:. ~ Dollars (CDN$).100,000A0,,,,.,, One Hundred T7rousand ..........:......................................................................................................................Dollars DEPOSR: Buyer submits , as otherwise described th this A~reemen[ ...................... ~(Herewith/Upon Accepbnce/m ollwrwisa dewrihed in this AgreemeMl Five Thousand ................ Dollars [CDN$) 5,000:00,.,.,,...,,.,.,_.,...,,,_ by negotiable cheque payable to. Ryan RPa1ty,.Services;Ltd:, Brokerage,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,;,,,,;,,,,,, "Deposit Holder" b be held in host pendir~ aompetion or other termination of this Agreement and to be credited bward the Purchase Price on completion. For the purposes of this Agreement Upon Acceptance" shall mean that the Buyer is required to deliver the deposit ro the Deposit Holder within 24 hours of t)te acceptance of this Agreement. The parties ro this Agreement herey~, acknowledge Lrat, unless otherwise provided for in Iflis Agreement, Bre Deposit Holder shall place the deposit in trust in the Deposit Holder's norrinterest bearirg Real Estate Trust Aaount and no interest shall 6e earned, received or paid on the deposit. Buyer.agrees fo pay the balance as more particularly set out in Sched~~u/~l}{e A ataached. SCHEDULE(S) A,.Bz. ~ ...............................:.......... ...... .attached hye~jprm(s) part of this Agreement. 7. IRREVCrCA611.ITY: This Offe all befrrevowble by.....~.....1~.~,e~~d..Y.li...~~'...VV..lruntil .Si~ ................ pm on ~~ ~ of .M~h....... ..:................ 20.14....., after which time, if not accepted, this the ........................ .......... . Offer shall be null and void and the deposit shall be returned ro the Buyer in full without interest 2. COMPLETION DATE: This Agreement shall be completed by no toter than 6:00 p.m. on tfle ,see schedule "A"......, d~, of ............................................ 20.......... Upon completion, vacant possession of the propery shall be given to Bre Buyer unless otherwise provided for in this Agreement. 3. NOMSS: The SeAer hereby appoints the Usfing fAokerage as agentfor the Seller for the purpose of g'ivirig and receiving nofiaes pursuant FAX No..905-033-8735,,,,,,,,,,,,, (for delivery of nolices'ro seller) INRIALS OF BUYER(S): ® ezolo,o.,a r.aeoAlmm,t~An. Axnsla,...~. m,em.md...y"dyorrn .,.,e, Wy.AM ahevrsl4~'AT4P^h~e°q MMf~.nTn mnrYdCRN 0ema6Mi 905-720.3006 ~por delivery of notices ro Bvyerf INRIALS OF SELLER(S):O Farm lea Rw. O]/2010 Page r of e WEBFOrmsTM Mar/2010 4. CHATTELS INCLUDED: 5. FIXTURES EXCLUDED: 6. REMAL ITEMS: The following equipment is rented and not included inthe Purchase Price. The Buyer agrees ro assume the rental conhacf(sJ, iF assumable :....................................................................................................................... 7. GST/HST: If the sale of the properly (Real Property,asd Scribed above) is subject to Goods and Services Tax (GSn or Harmonized Sales Tax (HST) then such fax shall) be.!4. addition to, ,, the Purchase Price. If the sole of (ind~ded'in)in cddiiion rot the Property is not subject to GST or HST, Seller agrees to certify on or before closing, that the sale of the property is not subject to GST or HST. Any HST on chattels, if applicable, is not included in the purchase price. 8. TRLE SEARCH: Buyer shall be allowed unN15:00 p.m. on the .......................... day of...................................., 20......., (Requisi}ion Date) ro examine the title ro the Property at Buyer's own expanse and until the earlier oF. (iJ thirty days from t}re later of the Requisition Date ar the date on which the conditions in this Agreement are fulfilled or otherwise waived or; (iij five days prior to completion, to satisfy Buyer that there are no outstanding work orders or deficienry notices affecting the Property, and that its present use ( .................................................................:..............................:......j may be lawfully continued and that the principal building may be insured against risk of fire. Seller hereby consenh ro the municipaliy or other governmental agencies releasing to Buyer details of all outstanding work orders and deficiency notices affecting the property, and Seller agrees ro execute and deliver such further authorizations in this regard os Buyer may reasonably require. 9. FUTURE USE: Seller and Buyer agree that there is no representation or warranty of any kind that }he future intended use of die property by Buyer is orwill be lawful except as may be specifically provided for in dris Agreement. I O. TITLE: Provided that the. title to the properly is good and Frae from all registered restrictions, charges, liens, and encumbrances ezcepl as otherwise specifrcolfy provided in this Agreement arsd save and except for (aJ any registered reshictions or covenants that run with the land providing that such are complied with; (b) any regstered municipal .agreements and registered agreements with publicly regulated utilities providing such have been wmplied with, or security has been posted to ensure wmpliance and completion, as evidenced by a letter from the relevant municipality or regulated utility; (cJ any minor easements for the supply of domestic utiliy or telephone serv'mes to Iha property or adjacent properties; and IdJ any eoserrrents for drainage, storm or sanitary sewers, public utility lines, telephone lines, cable television lines or other services which do not materially affeU the use of the property. If within the specified times referred tb in paragraph 8 any valid objection ro title or ro any outstanding work order. or deficiency notice, or ro the fact the said presentuse may no} lawfully be continued or that the Principal building may not be insured against risk of fire is made in writing ro Seller and which Seller is unable or unwilling to remove, remedy or satisfy or obtain insurance save and except against risk of fire (Title Insurance) in favour of the Buyer and any mortgagee, (with all related costs at the expense of the Seller), and which Buyer will not waive, }his Agreement notwithstanding any intermediate acts or negotiations in respect of such objections, shall be of on end and all monies paid shall be returned without interest or deduction and Seller, Listing Brokerage and Cooperating Brokerage shall not a liable for any costs or damages. Save as to any valid objection so made by such day and except for airy objection going to Iha root of the title, Buyer shall be conclusively deemed ro have awepted Seller's tide ro die properly. 11. CLOSING ARRANGEMENTS: Where each of the Seller and Buyyer retain a lawyer to complete the Agreement of Purchase and Sole of the Property and where the transaction will be completed by electronic registration pursuant ro Part 111 of the Land Regishation Reform Act, R.S.O. 1990 Chapter lA and the Elechonic Regishation Act, S.O. 1991, Chapter 44, and any amendments therero, the Seller and Buyer acknowle~e and agree that the exchange of dosing funds, nonregisfrable documents and other items (Fhe "Requisite Deliveries" and the release thereof ro the Seller and Buyer will (a not occur at the same time as the registration of the hansfer/ eed jand any other documents intended ro be registered in wnnection with the completion of this transaction] and (b) 6e subject ro conditions whereby the to erjs). receiving any of the Requisite Deliveries will be required ro hold same in trust and not release same except rn accordance with the terms of a document regishatiori agreement between the said lawyers. The Seller and Buyer irrevocably insfruct the said lawyers to be bound by the document regisration agreement which is recommended from time to }Tine 6y the Law Society of Upper Canada: Unless otherwise agreed to by the laveyers, such exchange of the Requisite Deliveries will occur in the applicable Land Titles Oifice or such other location agreeable to both lawyers. 12. DOCUMENTS AND DISCHARGE: Buyer shall not call (a the production of arrydde deed, abshacl surveyor other evidence of title b lire property except such as ore in die possession or mntrol of Seller. If requested by Buyer, Seder will deliver any skekh or survey oflhe propery within Seller's conhol ro Buyer as soon as possr le and prior b the Requisition Date. If a discharge of arty Charge/Mortgage held by a corporation incorporated pursu b the Trust And Loan Companies Act (C~anod~aj, INITIALS OF BUYER(S): INTIALS OF SELLER(S): ~/ ®m 2010. oMOb Fd fade NU,brm I'OFa~1. M ryAn iened.Thubmw~ Jrwbpd by 01F.0 bKoboMiepodufm ern mmb, and liar, W,..p,~yhr,A,viR,adaunued,ad mP„F,p,e....n.era..rdpgrq.o,meaYrw.~p.+.¢u~yodK.g temkud p.r pu+m Form 100 Ae.~. 03/2010. PaDeR efS - - WEBFwma"'Nar12010 Chartered Bank, Trust Company, Credit Union, Caisse Populaire or Insuronca Company and which is not to be assumed by ' Buyer on completion, is not available in registrable form on completion, Buyer agrees ro accept Seller's lawyer's personal undertaking b obtain out of the closing funds, adischarge in regfishable form and ro register same, or cause some to be registered, on fitle wit}Ein a reasonable period of time after cam Ip etion, provided that on or before completion Seller shall provide b Buyer a mortgage statement prepared by the mortgagee setting out the balance required ro obtain the discharge, . and, where areal-time elechonic cleared funds mansfer system is not being used, a direction exeated by Seller directing payment ro the mortgagee of the amount required ro obtain the disdwrge out of the balance due on completion. 13. INSPECTION: 8u r acknowledges Having had the opportunity to inspect the property and understands that upon acceptance of this Otter there shall be a binding agreement of purchase and sale between Buyer and Seller. The 8 r acknowledges having dss opportunity To include a reyu'Irement for a property inspection repots in Nils ppy~reemenT and agrees that except as may be apedfl~ally provided for m Nrss g9reement, the Buyer vn~l oat be obtaining a property inspection or property inspection report regarding ~ ProPertY• 14. INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion at the risk of Seller. Pending wmpletion, Seller shall hold all insurance polices if any, and the proceeds thereof in trust for the parties as their interests may appear and in the event of substantial damage Buyer may either terminate this Agreement and have all monies ppaid returned without interest or deduction or else tae the proceeds of any insurance and complete the purchase. No insurance shall ~ be transferred on completion. If Seller is caking back a Charge/Mortgage, or Buyer is assuming aCharge/Mortgage, Buyer shall supply Seller with reasonable evidence of adequate insurance to proteU. Seller's or other mortgagee s interest on completion, 15. PLANNING ACT: This Agreement shall be effective ro create an interest in the property only if Seller complies with the subdivision wntrol provisions of the Planning Act by completion and Seller covenants to proceed diligently at his expense ro obtain any necessary consent by completion. 16. DOCUMENT PREPARATION: The Transfer/Deed shall, save for the Land Transfer Tax Affidavit, be prepared in registrable form at the expense of Seller, and any Charge/Mortgage to be rven back by the Buyer fo Seller of the expense of the Buyer. If requested by B er, Seller covenants that the Transfer/Deed to be delivered on completion shall contain the statements wntemplated by Section 50(22( of the Planning Act, R.S.0.1990. 77. RESIDENCY: Buyer shall 6e credited towards the Purchase Price with the amount, if any necessary for Buyer ro pay to the Minister of tJational Revenue ro satisfy Buyer's liability in respect of tax payable by Seller undder the noniesidenry provisions of the Income Tax Act by reason of this sale. Buyer shall net claim such credit if Seller delivers on completion the prescribed certificate or a statutory declaration that Seller is not then anon-resident of Canada. 1 B. ADJUSTMENTS: Any rents,-mortgage interest, realty taxes including local improvement rates and unmetered public or private utiliy charges and unmetered cost of fuel, as a plicable, shall be apportioned and allowed to the day of wmpletion, the day of wmpletion ihelf ro be apportioned b Buyer. 19. PROPERTY ASSESSMENT: The Buyer and Seller hereby acknowledge that the Province of Ontario has implemented current value assessment and properties may be reassessed on an annual basis. Tha Buyer and Seller agree that no claim will be made against the Buyer or Seller or any Brokerage or Salesperson, for any changges in property tax as a result of a reassessment of the propery, save Dorf except any property fazes prat accrued prior to the wmpletion of this hansadion. 20. TIME LIMITS: Time shall in all respects be of the essence hereof provided thrn the time for Joing or wmpleting of any matter provided for herein may be a#ended or abridged by an agreement in writing signed by Seller and Buyer or by their respective lawyers who may be specifically authorized in that regard. 21. TENDER: Any tender of documents or money hereunder may be made upon Seller or Buyer or their respective lawyers on the day set for completion. Money may a tendered by bank draft or cheque certified by a Chartered Bank, Trust . Company, Province of Ontario Savings Office, Credit Union or Coisae Populaire. 22. FAMILY LAW ACT: Seller warrants that spousal consent is not necessary to this transaction under the provisions of the Family Law Act,. R.5.0.1990 unless Seller's spouse has executed the consent hereinaker provided. 23. UFFI: Seller represents and warrants to Buyer that during the rime Seller has owned the properly, Seller has not roused - any building on the properly to be insulated with insulation containing ureaformaldehyde, and that to the best of Seller's knowledge no building on the properly contains or has aver contained insulation that contains ureaformaldehyde. This warranty shallsurvive and not merge on the completion of this Transaction, and if the building is part of a multiple unit building, this worronty shall only apply Io that parr of the building which is the subject of this transaction. 24. LEGAL ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the brokerage is not legal, tax or environmental advice. 25. CONSUMER REPORTS: The Buyer is hereby noNfrod that a consumer report containing credit and/or personal information may be referred to in connection with this transaction. 26. AGREEMENT IN WRITING: If there is wnflict or discrepancy between any provision added ro this Agreement (including arty Schedule asodled hereb( and any provision in the standard preset portion hereof, the added provision shall supersede the standard preset provision to the extent of such conflict or discrepanry. This Agreement including arty Schedule attached hereto, shall wnsfitute dle enfire Agreement between Buyer and Seller. There is no representation, warrant', wllaterol agreement or condition which attach this Agreement other than as expressed Herein. For the purposes of This Agreement Seller means vendor and buyer means purchaser. This Agreement shall be read with all changes of gender or number required 6t' the wptext. 27.71MEAtiD DATE: Any reference ro o fine and date in this Agreement I mean the time and dote where the properly is located. INRIALS OF BUYER(S): INRtALS OF SELLER(S): ~O3ale,PVbmolEwN,m„bi rOeFA'V MNhirJ.Th:fe~.iwmdwhpdbYOVFA Ivly irnmd~prMainalAinmb~a ad l®.® a,y.pm.yiru.v~vu4,amuPOVksdm.PvMrpxvrnwrmnmrdokrww,adr.A., prrgvm^dvgr. m.md p.r pm;v. Fxm 100 Rev. 03/Im0 Pega7ef3 WEBFmnsTM MarY2010 28. SUCCESSORS AND ASSIGNS: The heirs, executors, dministrators, successors and assigns, of the undersigned are bound by the terms herein. SIGN D AND D VERED in the presence of: IN VJI , ~ e I have hereunro set my hand and seal: // ~/ /~ ................................................ ..... .. ................:.... ~ DATE...~I~~Z.7./I.51......... ............ ryvmwi .. .................. Iser'I ......... ................................................... ....................................................................... DATE................................... jwikee Iswe') Ise=4 1, the Undersigned Seller, agree to the above Offer. I hereby irrevocably instruct my lawyer to pa directly to the listing Brokerage the unpaid balance of the commission together with applicable Goods and Services Tax ~nd any other razes as may hereafter be applicable), from the proceeds of thesale prior 1o any payment to the undersigned on.complerion, as advised by the Listing Brokerage fo my lawyer SIG D, SEATED AND DELIVERED in the presence oF; IN 1NR E55 wherea ov_e~he~reUMO/sat my hand and seal; ,(,/ ~,/~ ~~............ JK~'~' GE DATES. ~.~..K.-.~/XJ~~ l ................................................................. ~ ....................................... IseoR ............................................................................ ....................................................................... ~ DATE............................ ...... IVJlmaai ~ISetle~l - ISwtl SPOUSAL CONSENT: The Undersigned Spouse of the Seller hereby consents ro the disposition evidenced herein pursuant to the provisions of the Family Law Act, R.5.0,1990, and hereby agrees with the Buyer that he/she will execute all necessary or incidental documents to give full force and effe.'t to the sale evidenced herein. j`'u'ewil ..................................:................................: ............................................................................... ~ DATE................................... Ispewd Iswll CCtNFIRN1Af10N OF ACCEPTANCE: Nohvifhstanding arlylfsing oantairsed herein to the contrary, I confirm this Agreement witlTall changes both typed and writlen was Rnally accepted byall parties at...'f'•T~........a.m./ .. ((~~t~~IS~~jj~~..//...~'.~.~ .........................doy ot ............./.'Ylkcc~ .:.....................:....., 2o...F..a'... ...~~h'~~~.'a a:aa; Iii.................... INFpr IMTIVN DN LiRting Brokemge_Ryan Rdalty.Services Ltd,,. Brokem~ .................................................... 905-0345128 .... .... ......... TeI.No .................................................... 39 Westmore Steet, Courtice „. ...........................:. MINCOM MLLENNIUM REALTY INC., BROKERAGE.,_,..,.,. TeLNo,.(,905720.2004•,•„•,._.__,....,,. Brokerog e .................................................................................................: ........... 1603L3WY2 ..................COURTICE....._........................................................................: . . wcrwaewsewuwcm I aknowladga receipt of my sigrwd copy d this accepted AgreameN of l d f I advlowkd~, Wr h e an oxyes. orwar o copy//b my W and.Sfdg~~_d I aatlsontt the Agent b c m J ................................................... DATE...................... .............. jsell;;j .. ... ............, pasts Address for Seller's .................................................... FAX Na. d Agreement of a copyb mrry er. DATE. ~iZ. J..~Q...... DATE....II .................. .................................................... FA%No FOR OFFICE USE ONLY COMANF9aN TtUal paREENlM m: ca~PMerorna ewkema• =h~^ ~^ *e bmeoies Agmemml a! Pmu~we m,d sale: MINCOM MILLENNIUM REALTY INC., BROKERAGE In cvnsidaolion br Ae Cooparoan BmLero99ee prowr~ng dm furegoiq RRreemenr o! Purdvw and Sole, I iwreby dedore Mm vll mo~wys racei.ed arramiwbb by me'm wnneoion wile *edeFiwd IMeMIS'A Rule~a a.d ldo be®ubj.n le an~owoneds6~~e MLS®R~Iw p.,lainl,g to Cembm'use ~~nnm. This apreemenl rFollcrosla,ha Cwnmiasim Tmrt Agnemem oaryB a o rlhe dole and lime of the ox~m.w of the faregoirg AgreemeN of Pu,d,ow and sole. Rckr~wl~ed by: A t~ n • s ce9 all:.aa.s.~3.Mbmwmdel iWC<FAbAemad Address for Buyer's u~„ye,e.,r,.w,>,e„darw,i.p,lubwd@p.la,~.,le.em,,.aaouu oe..ow.~...P•w,e~~v~we e. m~maP...w~e~. Farm TOp Itev. un/cola raae~srs WEeFamis^'IAaa2R10 ~~ ,,,,. Schedule A ~ ~ M r~~ooo `"m"°"°" Agreement of Purchase and Sale This Schedule is attached ro and forms part of the Agreement of Purchase and Sale between: BUYER..1529250,Ontario.Iuc: ....................................:............................:.......:...............................................:., and SELLER., Municipalitx of Clarington ................. ,,,,,,.,..............................:. For the purchase and sale oF,190. George.Reynolds Drive, Courtipe ... .................. ..........................................................: ClarinPtoq :....... dated the 24th .................................. doy of March.: 20.10.... . Buyer agrees fa pay the balance as follows: The Buyer agrees to pay the balance of the purchase price, subject to adjustments, by bank draft or testified cheque, to the Seller on the completion of this transaction. The Buyer agrees to submit a deposit of FIVE THOUSAND DOLLARS ($5,000. Wj, W Ryam Realty Services Ltd., Brokerage, by negotiable cheque, at the time of notification of fulfilment or removal of the condition pertaining to Council Approval, to be held in trust pending complefion or other termination of this Agreement.. This amount is to be credited towards.the purchase price on completion of this transaction, The Buyer and Seller acknowledge that the lots are fully aerviced with water, hydro and gas and that building permits aze available. The Seller agrees to provide the tiuyer with any surveys, engineering reports and envitnnmental studies on a said property upon acceptance of this agreement. Ta. kr-agreasie pFe{dA®~reae0nabt h eatEaFad:eue~^~t d't .:~_~ ~~~ .. The Seller and Buyer acknowledge that [he closing date, at the Buyer's optiuonw, will mot be earner than May 1, 2010 and not later than December 22, 2010. 3o eE.esM N{-s t'p m tvx` 6.C f{ std ~ u h'~' k~' pa's o'r' This form must be initialed by all parties to the Agreement of Purch nd Sale.. ~p~ INRIALS OF BUYER(S): INRIALS OF SELLER(S): (7(/ m mzot0, arm rnlrmeww~sm l'arr/~l eansro ms..d. his Mnxmb+~p.iM ocrnbM od dis.a.F.+ad liver ~/ R„,MS„r,n„w>~em,i.Raa'.~mw-ee~~~dacrn. oob.ra..,~:«re mare r..~•s.d r~+w,m. ae.m roo Rw. oa/zot0 r.a.sds ' VrEBFmns°MarYteta ~~~~, Schedule s ~.H~~~.P ~'~°s ^~°"°^ pgreer'rtenr of Purchase and Sale This Schedule isatlached to and formsQQparrt~o~f theme Atdr/e~ement of Pnurchoza and Sale between: - ..~.~•.a G7ir^'7[.'<.....l..I~~FG.Q.....1N.~.:' ........:........................................ and BUYER. ............................. Munici alt of Clarin ton .....................................................:...................................... SELLER .............P.... tY...............g..................,.............. . iqo Gc~RUtE..~~f~Ql~.~..:~R:.....:Q~.u<~!,cE .....:........:..... For the property known os ...................... uu ~~` da of ....L•'~+2010...... - dated the ................. ..... ..............::...................... y !" 1~~a-c auto failing This offer is conditional upon Municipal council approval ' which this offer is null and void and dte bu ers de sit is returned of full without interest or deduction. This conditibn tr included fa the benefit of the seller and may be waived at [heir sole opt'son.. The buyer agrees to: ~ .~(j adherem-the the lot grading plan as provided by the seller at a later date. pay fora 5350 street boulevard tree to the Municipa[ity - - pay 550D'for a road damage deposit [o dte Municipality pay a base price of 52DD for a curb cut to the Municipality and the buyer is aware there may be addirional c pay GS7 (prior io June 30, 2010) or HST (after July I, 2010) in addition. The buyer is aware that at time of building permit atiditidnal levies are to be paid including: . regional 518,520 municipal ~ $13.785 . educational separate S 364 ~ - The buyer is aware dtat these are 2010 levies and subject to review June 30, 2010. The buyer is responsible to verify and satisfy themselves az to all costs aad levies for this lot. -- Ttiebuyer is aware that This a former site of a Fire HaR and that a Phase.I and Phase 2 Env¢dnatentel Si[e Assessment has been done ahd agrees to purchase the lot as is. The buyers enters onto Ness properties at their own risk and liability. ,. Thebuyer is aware that the lots at 182 George Reynolds Dnve requue fencing on the west side and 194 George Reynolds Drivetequue fencing onthe ass[ and north sides. All fencing fs subject to Municipal approval. This formmust be initialed by all parties to the Agreement of Purcha ~ Sole. - INRIALS OF BUYER(S): - INISIAL5 OF SELLERIS): bra.. r,. wE npmlunpi ®omos.aas.w~r,b.~~roc[A~.w~eN+,:~••dm~;~^^•.~, ~,,,~,doRr.. rn.mfos zoos r~.rdt .... -din memkn o~d tunwn mM. /'M oar., uz v2e!od.d~m a a,s,urod mp! w~ ~ - wearrormz° aonoar ¢.' 3 / • . ~1 ^ W ~ T ~ £ lava 9g 1. ~N ~ . s 1 ~~ 1 ~ 1 M •occre{ x ~ + ' ~ 1 e ~ ~ 4 c to .. - - -. ~ (/ \..,~~ 1 a I 0'e ` i lava ~ . *~~ ~~+ a ~ / a t lava _ ~ _ _ Confirmation of Co-operation Ferm aso ~~ ""~''"`~ and Representation `°r "'°'"'"' "°""° °' °"'°'° BuTER:.1529250, Ontario I¢c: .........................................................................................................................:......................................................... SEtiER:.Mttnicipalitx Gf Clatiapto¢ ................................................:................_.................................................__.........................._....._........_... 194 Geor a Re ¢ohis Dnve Courtlce ClaTin on Pordre monsodien on the propeM known os:...._..........._~..........Y .............._......t_............................_..................................~........................................... For the purposes of This Confirmation d Coopawion and RepmsenMion, a "Selkf indudes a verrdaq o landlord, err a pospective, seller, vendor or landlord and a "Buyer" includes a gvchoser, a rorwm, or a prospective, buy«, pachaser or romnl and e'eob" indudes a lease. The faBowlrsg MFormalien is corrfimsed by Ms undersigned sekapsnen/broker repmaenfoliwa of ti+e Raahroge(s). B a Ge-epeMhrg Brvkarege is imohad in the lromadfan, Ilse 6rokaragss agree b ee-apsrvlo, in cauideMian of, and on IM firma and mdiaero as sat ore 6sbw. DECLARATION Oi RVSORANCE: the utsdsnigned salupenon/broker repraseMaFive(s( of tM Brokerage(s). herelsy d«lare'Mert Ise/she is inaraed as required by tfre Rsal Estate and 6uaineu Broken AcF (REBBA) and Rsgulaiiom. 1. LISTING BROKERAGE The Listing Brokerage represents the interests of the Seller in this travsac[ion. 2.00-0PERATING BROKERAGE The Co-operating Brokerage represents the interests of the Buyer iv this Ransaction. it is Ctutlter uvdetstaod and agreed that Me Listing Brokerage will pay the Co-operating Brokerage - © the wvuviasiov as indicated iv the MLS®infomtadon for the property or, if not m MLg® listing: ^ a commission plus applicable Goods end Services Tax, from the amount paid by the Sella to the Listing Brokerage, on any trade wherein the Co-operating Brokerage has obtained m accepted Agtamrnt ofPUrchase and Sale, opdon to Practises or Agreement m Exchange ansVor Lease. Said payment ofeommiasion will m[ make the Cooperating Brokerage either the agrnt or sub-agent of the Sella or the Listing Hmkerege. Additional comments and/or disclosures by Listing Brokerage: Additional cotnmen¢ and/or disclosures by Co-operating Bmkemge: [e.g. The Cooperating Brokerage represents vwrc than one Buyer offering on this property.] COhH.ttSg10N TRUST AGItHENfHNTr Ifthe above Co-apmamg Hnkmage u rtxiviog PYrvrnt ofmmmiaiov frmo she Lining vq if the loal braid's h1L5'& rule end mgulaaom so Pror'ne. ummace, me prowrora m me Brun rerovmcvu im Tmrs Agremant Fmthe PrPSr ofNk Cmwivivn Tmn Apeemevt, rb<COmmiaian Trun Amomsenap b Met dl monies rarived'm comedian with Me seeds shdl emrdmm e, Commiaion Tmrt and shall be natl. in nun, Fax r 2K'LOIO Da k: ..................................... Fox: CONSENT fOR MUVIPIE REPRESENTATION (To In cemphsted only if Me Brokerage repnsenls more thins one cRanf far Ilse hansoclion.l The Sellar/8uyer wnaeM vriM Meir fniNals b their Brokwgs O represenNrg more Man one elisnt for this /ranaacden. ~ $FµFRK Nlllald [WTQ'a INIIIIaa h race d, and undd' ~~rJr~yaond Me o~q+w~rs. inf~~ormaliarunvnaewo (~ ..... .. ~.:S.I[........ Dote%Ymesr~...~f. ,..?OLa .... _ ................................ Dais:...................................... pa a gna a I ................................. Dole:..................... ............. r -............ Dole:..............................._..... 5f~ orore d'Sefl'er'~ I igmmra uyer ®®feo9, Omrio 0.ml EvWe Assxi°aer. fcFFA9. PT eels reserved. Thb!°rm wa deebped by 01FA b the use and npr°dueim Form 320 200a ^' Page 1 d t d o rmmtxn end 4«mae vn4y. Any atlra use pr 2pmdacrw, u Pmhibired exapi wah prix ~n rorsem d OREA. .__~„_ ~ ~;~;~. Agreement of Purchase and Sale Fe^^ 700 awdaien For uae In Me Pmvlnrs d On~uio This Agreement of Purchase and Sale dated this. 20.t1! .............. ......... day of ,March 2010 ,,,, BUYER,.1529250, Ontario,Inc.,.....,,,.„..,,,, .,, . ............................. ...... agrees to purchasefrom IFalllegal ncmes of bll ~9~yers~~~~~ ~ ~~~~~~ SELLER. Municipality of Clarington.,,,..,.,.; ~ ..................:.................................................. the following (Full'lepal comes of ull Sellers) REAL PROPERTY: Address.194 George Reynolds Drives Co}u[ice ................„..,.......................... fronting on the Num............:....:..... side of.George Reynolds Drive ............. in the Mtmicipality 4f .... Glaring,ton.............................:.................................... and having a Frontage of ,495, feet ...... more ar less by a.depth of .130 feet ,,,, more or Iasi and legally described os Concession 3,1'art Lot 30 Plan 40R25B45 Part 5 ...........................................................:..... ..................................... ........... ... ..................... ..................................................... (the "proPeM ~ - ~fege~aescripXOn of fond~'incfuding eawnems not desoihedelsewhere) PURCHASE PRICE: -. Dollars ~CDN$~.1,15,000; 00 .,,,., One. Hundred Fifteen Thousaad ......................................................................................................................Dollars ........................ DEPOSIT: Buyer submits . ~ otherwise described in this Agreement ............................................................ ........... .. In.reriih/uPea Aempwnce/es esherwsee de.Ribed.is this Agr.ememl Five Thousand - - ...... Dollars (CDN$~.51000000 ......................._ R an Real Services Ltd Brokera by negotiable cheque payable ro... Y...........~5 ...................:..............&e................................................. "Deposit Holder" 1o beheld in host perdirsg competon ar other terminafion of thk Agreement and Po 6e credited toward the Purdiase Price on complefion. For the purpores of this A reement Upon Acceptance" shall mean that the Buyer is required to deliver the deposd to the Deposit Holder within 24 hours of t{se aceeptonce of this Asreement. The parties to this Agreement hereby, acknowledge that, unless otherwise provided for in this Agreement, the Deposit Holder shall place Ilse deposit in host in the Deposit Holder's noninterest bearing Real Estate Trust Account and no interest shall be earned, received or paid on the deposit. - Buyer agrees ro pay the balance as more particularly set out in Schedule A attached. SCHEDULE(S) A.r.Bo.C ...........................................................aMached her form(s) part of tlsis Agreement. 1. IRREVOCA6ILRY: This Qxer shall be inevocoble by ..$!!7!!..~'{~~. ~ un1i4 5:~~ ................ pm on ~J`{~a (Seller/Beyerf ~~~ ~~~~~~~~~~~ the ~..LS~... ~..... ay of March,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, 20.10....., after which rime, if not accepted, this Offer shall be null and void and the deposit shall be reNrned to the Buyer in full without interest. - 2. COMPLETION DATE: This Agreement shall be completed by no toter than 6:00 p. m. on the see schedule "A" .day .............................. 20.......... Upon completion, vacant possession of the property shall be given to the otherwise provided For in this Agreement. 3. FAX No..905~33:8735..„.„.,,,,, IFar delivery of wKces ro Seller) ~: ?aVO ,,...,,,,.. IFor daliveryof notittsto Boyer) INITIALS OF SELLER(S): r+v"^m Fwm 1aD Rw. 03/2010 Pegs 1 of 5 WEBFpess^`Marl2ato 4. CHATTELS INCLUDED: 5. FIXTURES EXCLUDED: 6. RENTAL REMS: The following equipment is rented'and nod included in the Purchase Price. The Buyer agrees fo assume the rental contract(s), if assumable :................:...........:.......................:......................................:........................... 7. GST/HST: If the sale of the property (Real Property,as ~dPSCribed above) is subject to Goods and Services Tax (GSTI or Harmonized Sales Tax (HST) then such tax shall be m a,,, ikon to, .,., the Purchase Price. If the sale of hnduded ~in%in odditien to the property is not subject to GST or HST, Seller agrees to certify on or before closing, that the sale of the properly is not subject to GST or HST. Any HST on chakels, if applicable, is not included in the purchase price. B. TRLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the .......................... day of...................................., 20......., (Re uisition Date) to examine the title to the Property at Buyer's own expense and until the earlier of: (i) thirty days from the later of the Requisition Dateor the date on which the conditions in this Agreement are fulfilled or otherwise waived or; (iiJ five days prior to completion, to satisfy Buyer that there ore no outstanding work orders or deficienry notices affecting the Propery, and that its present use ( .......................................................................................................J may be lawfulFj continued and that tfie principal building may ba insured against risk of fire. Seller hereby consents to the municipality or other governmental agencies releasing to Buyer details of all outstanding work orders and deficiency notices affecting the property, and Seller agrees to execute and deliver such further authorizations in this regard as Buyer may reasorwbly require. 9.. FUTURE USE: Seller and Buyer agree that there is no representation or warranty of any kind that the future intended use of the property by Buyer is or will be lawful except as may 6e specifically provided For in this Agreement I O.TRLE: Provided that the tide to the properly isgood and free from all registered resfrictions, charges, liens, and encumbrances except as otherwise specifically provided in this Agreement and save and except for (a) any registered restrictions or covenants drat run with the land providing drat such are complied with; (6J any registered municipal agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been pasted to ensure wmpliance and completion, as evidenced by a letter from the relevant municipally or regulated utiliy; (c) any minor easements for the supply of domestic utility or telephone services ro the property or adJ'aceni properties; and dJ any easements for drainage, storm or sanitary sewers, public utility lines, telephone lines, cable television lines or of er services which do not materially affect the use of the propery. If within the specified times referred to in paragraph 8 any valid objecfion to tide or to any outstanding work order or deficienry notice, or to the fact the said present use may not lawfully be continued or that the Principal building may not be insured against risk of fire is made in writing to Seller and which Seller is uno6le or unwilling to remove, remedy or satisfy or obtain insurance save and except against risk of fire (Title Insurance) in favour of the Buyer and any mortgagee, (with all related costs at - the expense of the Seller), and which Buyer will not waive, this Agreement notwithstanding any intermediate Acts or negotiations in respect ot(such objections, shall 6e at an end and a l monies paid shall be retained without interest or deduction and Seller, Listing Brokerage and Cooperating Brokerage shall not a liable for any costs or damages. Save asto any valid objection so made by such day and except for any objection going to the roof of the tide, Buyer shall 6e conclusively deemed to have accepted Seller's tide to the property. 11 . CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lavryer fo complete-the Agreement of Purchase and Sale of the Property and where the transaction will be completed by electronic registration Pursuant to Part III of the Land Regisration Re~orm Act, R.S.O. 1990 Chapter L4 and the Elecfronic Registration Act, S.O. 1991, Chapter 44, and arty amendments thereto, the Seller and Buyer acknowled a and agree that the exchange of closinrgg funds, nontegisfrable documents and other items (the "Requisite DBliveries ~ and the release thereof 1o the Seller anti Buyer will (oI not occur at the same time as the registration of the transfer/deed (and any other documents intended to 6e registered in connection with the completion of this transaction) and (bJ be subject to conditions whereby the lawyer(s) receiving any of the Requisite Deliveries will be required ro hold some in trust and not release same except in accordance with the terms of a document registroton agreement between the said lawyers. The Seller and Buyer irrevocably instruct the said lawyers to be bound by the document regishation agreement which is recommended from time ro time by the Law Society of Upper Canada. Unless otherwise agreed to 6Y the lawyers, such exchange of the Requisite Deliveries will occur in the applicable Land Titles Officeor such other locohon agreeable to both lawyers. 12. DOCUMENTS AND DISCHARGE: Buyer shall not call for the production of any fide dead, abstract surveyor other evidence of title fo the property except such as ore in the possession or control of Seller. If requested by Buyer, $e)ler will deliver any sketch or survey of the property within Seller's control to Buyer as soon as po 'ble and prior b the Requisition Date. If a discharge of any Charge/Nrortgage held by a corporotion incorporated pu b the Trust And Loan Companies tut jCanadaj, INRIAIS OF.BUYER(S): INRIALS OF SELLER(S): mxia,omn xdsme ~so<.I'ocrw9. ai nd+~.~.a.rw~~d..:r+aborrw rd ~,6mm.A,.r ad r<.,W ...,. ay.Mdwu.nq.miw~o,: nmNiW mpMh pw x~inmumidara.mmoV vls~pimg ~mdve MSadod p.rMF~r°• Form 100 Re.'. 03ROID Po8~3M5 ' WEBFmna^'Mera010 Chartered Bank Trust Company, Credit Union, Coisse Populaire or Insurance Company and which is not ro be assumed 6y Buyer on completion, is not awlhble in registrable form on completion Buyer agrees to accept Seller's lawyer's personal undertaking ro obtain, out of the closing funds, a discharge in reglshab)e form and ro register same, or cause same ro be - registered, on title within a reasonable period of time after completion, provided that on or before wmplefion Seller shall provide ro Buyer a mortgage statement prepared by the mortgagee setting out the balance required ro obtain the discharge,- and, where a reoftime electronic cleared Funds hansfer rystem is not being used, a direction executed by Seller directing payment ro the mortgagee of the amount required to obtain the dixharge out of the balance due on completion. 13. INSPECTION: Bu e~r acknowledges having had the opportuniy ro inspect the property and understands that upon acceptance of this Otter there shall be a binding agreement of purchase and sale between Buyer and Seller. The B er aclmowkdges having the opporluniy to include a rcguiremenf for a praPercy inspection report in This Agreement and agrees Thaf ezceP} as may be specifically provided for m this Ayreemenf, fhs Buyer will not be obtaining a property inspection or prcperty inspection report regarding the ProPertY 14. INSURANCE: All buildings on the property and all other things being purchased shall be and remain until completion of the risk of Seller. Pending completion, Seller shall hold all insurance policies if any, and the proceeds thereof 1n trust for the parties as their interests may appear and in the event of substantial damage Buyer may either terminate this' .Agreement and have all monies ppaid returnedwithout interest or deduction or else take the proceeds of any insurance and complete the purchase. No insurance shall be transferred on completion. If Seller is taking back a Charge/Mortgage, or Buyer is assuming aCharge/Mortgage, Buyer shall supply Seller with reasonable evidence of adequate insurance fo protect Seller's or other mortgagee s-interest on completion. _ 15. PULNNING ACT: This Agreement shall be effective to create an interest in the property only if Seller complies with the subdivision control provisions of the Planning Act by completion and Seller covenants to proceed diligently at his expense to obtain any necessary consent by completion. 16. DOCUMENT PREPARATION: The Transfer/Deed shall, save for the Land Transfer Tax Affidavit, be repared in registrable form of the expense of Seller, and any Charge/Marfgage to be given back by the Buyer to Seller al the expense oF.the Buyer. If requested by Buyer,Seller covenants that the Transfer/Deed ro be delivered on completion shall .contain the statements contemplated by Section SOj22j of the Planning Act, R.5.0.1990. 17. RESIDENCY: Buyer shall be credited towards the Purchase Price with the amount, iF any, necessary for Buyer, to Pay ro fhs Minister of National Revenue ro satisfy Buyer's liability in respect of roz payable 6y Seller under iha non-residency provisions of the Income Tax Act by reason of this sale. Buyer shall not claim such credit if Seller delivers on completion the prexribed certificate or a statutory declaration that Seller is not }hen anon-resident of Canodo. 18. ADJUSTMENTS: Any rents, mortgage in}eresf, realty taxes including loco) improvement tales and unmetered public or private utility charges and unmetered cost of fuel, as applicable, shall be apporfioned and allowed to the day of - completion, the day of completion itself to be apportioned to Buyer. 19. PROPERTY ASSESSMEM: The Buyer and Seller herebyacknowledge that the Province of Ontario has implemented current value assessment and properties may be reassessed on an annual basis. Tha Buyer and Seller ogres that no claim will 6e made against. the Buyer or Seller or any. Brokerage or Salesperson, for any changes in property roz as a result of a reassessment of the property, save ant! except any property taxes that accrued prior ro the completion of this transaction. ~20. TIME LIMITS: Time shall in all respech be of the essence hereof provided that }he time for doing or wmpleting of any matter provided for herein may be extended or abridged by an agreement in writing signed by Seller and Buyer or 6y their respective lawyers who may be specifically authorized in that regard. 21. TENDER: Any tender of documents or money hereunder may be mode upon Seller or Buyer or their respective lawyers on the day set for completion. Money maayy a tendered 6y 6ank draN or cheque certified by a Chartered Bank, Trust .Company, Province of Ontario Savings Okice, Credi} Union or Caisse Populaire. 22. FAMILY LAW ACTT Seller warrants that spousal consent is not necessary to this transaction under the provisions of the Family Law Act; R.5.0.1990 unless Seller's spouse has executed the consent hereinaher provided. 23. UFFI: Seller represents and warrants ro Buyer that during dre time Seller has owned the property, Seller has not caused any building on the property to be insulated with insulation containing ureafonnaldehyde, and that to the best of Seller's knowledge no building on the property wntains or has ever contained. insulation that contains ureaformaldehyde. This warranty shall survive and not merge on the wmpletion of this transaction, and. if the building is part of a multiple unit building, this warranty shall only apply ro that part of the building which is the subject of this transaction. 24. LEGAL, ACCOUNTING AND ENVIRONMENTAL ADVICE: The parties acknowledge that any information provided by the brokerage is not legal, cox or environmental advice. 25. CONSUMER REPORTS: The Buyer is hereby notified that a consumer report containing credit and/or personal information may be referred ro in connection with this transaction. 26. AGREEMENT IN WRRING: If there is conflict or disvepor~cy between any provision added ro this.A~reement jincluding any Schedule attached hereroj and arty provision in the standard preset portion hereof, fire added provision shall supersede the standard preset provision ro the extent of such conflict or dixrepanry. This Agrcement including any Schedule asached hereto, shall constitute the entire Agreement beMreen Buyer and Seller There is no represenlafion, wamanty,mllaferal agreemam or condifion, which attach This Agreement other than as expressed herein. For the purposes of this AgreementL~S~eller means vendor and Buyer means purchaser. This Agreement shall 6e read with all changes of gender or number required oY the context.. 27. TIME AND DATE: Arty reference to a fime and data in this Agreeme s II mean the fime and date where the properly is located. . INRIALS OF BUYER(S): INITIALS OF SELLER(S): ®osmo.o...nr.~~re,.a~r~.,l'oa~,b,u,d.,.....d. n:. ~,..~d...4.dMocursr. b~ .a. mme.,. odr~. aJy ayoiM1.w>~.pea„rmbpdm'`dmPxe,pd.~m mw+darrn oo ~no'l. wkn p5xre ~re+~+<'dod r~v+~w~^~ Form 100 Rev. 03/I010 Paeeiof5 WEOFwma"'Marf2010 28. SUCCESSORS AND ASSIGNS: The heirs, ezecurors administrators, successors and assigns of the undersigned are bound by the terms herein. ~ _ SIG D, lE0 AND DELI RED in Mo preaence of: IN W E55 r here hereunro set my hand and seal: //7 ~ ..... ................................................................... i ...j ........................................ I~ DATE...7J~~y~l.Cl...... ........................................:................................. .........................................................:............ ~ DATE................................... ryvuee I%md ~~ Iseo4 1, the Undersigned Seller, agree to the above Offer. I hereby irtevocably instruct Iny lawyer to pay directly to the Listing Brokerage the unpaid balance of the commission 1 ether with applicable Goods and Services Tax (and any other taxes as may hereaher be applicable(, from the proceeds of the sale prior fo any payment to the undersigned on completion, as advised by the Brokerage to my lawyer. ~r~LD, SEAIE DEDVERED in tlw presence of: IN WI E55 wher5pf I have hereu/nto sM my hand and se~l ?d ......._ . ............ .......................................... . L.. ...y/}//y~C..Ckt.P!r.Nl.............................. ~ DATf..c..y..'...~4'.. ~ ....................... .......................................... ............................................................................ DATE................................... ii4dne:;i .Ise «j IseaU SPOUSAL CONSENT: The Undersigned Spouse of the Seller hereby consents ro the disposition evidenced herein pursuant to the provisions of the Family Law Act, R.5.0.1990, and hereby agrees with the Buyer that he/she will execute all necessary a incidental documents to give full force and effect to the sale evidenced herein. ............................................................................... ............................................................................ ~ DATE................................... Ivrme»I Ispov»I Iseoll CONFIRMATION OF ACCEPTANCE: Nolwilhsronding anything contained herein b the contrary, I confirm this Agreement with all changes both yped and written was finally accepted by all parties at.. [ :~30.....w.+nlp.m. is ... ....T~ `{ ....................day of .................~!FGG~..........:..............., 20.f~..... ........... .eon,,: d's:tla'or e~i...........:........ INPDRMNi1VPR VIV arokarage_Ryaa Realty Services.Ltd; ,. Bokerage......_ ...........................: .... Td.No_905-034-5128 Brokaraga_M..IN.COM MILLENNIISM REALTY INC,f.BROKERAGE„_-.,,.. TeLNa_~905~720-2004 ACI[NOWLRaGEMENI I ocknowtadge recdpl of my signed mq d This aa:eplad AgreemeN of I acknowbd Pmcha and Sole o aaMorux Me,/Agent b forward a mq~/b m~y~lawyyeLr. Purchase an `~r/...~4f`.^..^.... ................... DATN.7ecl9i..c.~ Rw.%1 .....-. .. ............UUU............................................... DATE...................... Isn:;j..... Ia:i:A-....... Address (ot Seller's DATE ...................... Address hr Service ...................................._............._.....:.................... Boyar's .................................................... FAX No. .................................................... FA% N0. F00. OFFICE USE ONa COMMISLON 1e11R •01EFMFM To: eoa~parraaaans s,eRmeae esown mn M. hr.gome Agn.mem ml Pumhese and sel.~ MINCOM MII,LEIVNIUM REALTY INC., BRO[CERAGE In censiMrdion la IM CmpraRng avkera9 pnannR me fore0a,g ARnemem of W,chnse and Sok, I herby dedem Ihm all menery recd.ed a ,ece~voble by me in cmr,eaion wah the Trmsvaon aemneempl Nd nsMe M15®&Iu and Reedona,uolmy Reel6bN BOwd shall be nceM64avd hdd in mn. This agrrmem shall ansRlwea Commiesim Trvtl Ageemenl os dehrcd iJbEM15S Ruke mnd eTall he rvblea b and evmrmd by the MLS® Rvle. prminip b Cwnmasim irval. fine al the oczpivma d the bregollg Agreemmd of Purthms and sda. Pe4~..~ed by: ed b ® OR010, OxoivWb>rAmlim rasFAT. NeBb~Id.lM bmwdmm6pellryoAFAb HweordmPVd+Sm die ~eod rm,rs e,N AirycArw>gd~emeprdJbbedspwai pe...ieemee+darnwmo4,.h.. ye.panpm,kap ee acted persnw.. yrr:s 100 Rev. 03/2ala rkge/af5 KEBFmne^'Mer11010 SEA ~~e. Schedule A Fmrm loo "'°"m'°" Agreement of Purchase and Sale `°' "°'" n. "`°""`° °i o°""° This Schedule is anached to and forms part of the Agreement of Purchase and Shce between: - BUYER,.1529250 Ontario Inc . .........................:............................................................................................ and . .................. SELLER. Municipalit~+ of Clarinpfon. .................................................: ..................................................... for the purchase and sale of ,194. George Reynplds,Dnvq,Courtice ................................ _c~aringtyu ....... dared the.zaut .................................. day of Mob........................, 2o.1P..... Buyer agrees to poy the balance as follows: The Buyer agrees to pay the balance of the purchase price, subject to adjustments, by bank draft or certified cheque, to the Seller on the completion of this transaction. The Buyer agrees to submit a deposit of FNE THOOSAND DOLLARS ($5,000.00), W Ryan Realty Services Ltd, Brokerage, by negotiable cheque, at the time of notification of fulfilment or removal of the condition pertaining to Council Approval, to be held is frost pending completion or other termination of this Agreement. This amount is to be - credited towards the purchase price on completion of this transaction. - The Buyer and Seller acknowledge that [he lots are fully serviced with water, hydro and gas and that building permits are available. The Seller agrees to provide the buyer with any surveys, engineering reports and environmrntal studies on the said property upon acceptance of this agreement. , / a. '~.~ The Seller and Buyer acknowledge that the closing date, at the Buyer's option,-will not be earlier than May 1, 20] 0 and not later than December 22, 2010. ~ ~o a ~ nd(1 ~ ~y.upf 64 v t c4cj l n b r~(-r h~ flrsor ~ ~-. rc.d s ~~ ~Q.s~P~~ This form must be initialed by oll parties to fhe Agreement of Purch s d Sole.. ~~ - INRUILS OF BUYER(S): _ INITIALS OF SELLER(S): (dfi > R] mzo~o, a~e;°e~m,,.a,emw~ro~nn aind+~.mnrm,,,,m~aorss~s. '° ,~,dw„aem.~t.,.a,ar ~,~ ~~ ~~++~~..°'{+'M/°r'°"®°"°'°Aia°"~°'°I~bw1°mp"'Ar"°`"re~'m"""dacra.0°^°,d'"b^r""ce°"s°da'g L°m,mdP^~•'wr~. Ferro fOa Rer. 03/2070 Popes efS WcBFOrma°Merl2010 ~"~,. Schedule IJ torm I05 "~~°"°^ .Agreement of Purchase and Sale _ - ~ - ~« uw in ~ Pro.:nro of ONrcb This Schedule is ahoched to and forms parr of the Agreement of Purchase and Sale bertveen: .:., and BUYER.. ~ ~ "' SELLER,_Municipality of Clanngton ../..~ ............................... ...............,...,: ....... C ..:... for the propery known as: 1.9~....~rt~RliE.. ~~~N4.~D:S ....D~ '''`..'n//^^ -n ~ :...., _. ......... dated the ... ..~...~~......... day of-.~'f..... ,"0 Thrs offer is conditional upon Municipal council approval - r farbng which this offer is null and void and the buyers deposit is returned in furl without inrerutor deduction. Tha condmon is included for the benefit of the seller and may be waived a[ theirsole option. The buyer agrees [o: ~ - - - adhere tothe the lot grading plan as provided by the seller at a later date. - - pay fora $350 street boulevard tree to the Municipality - - pay $500'for a road damage deposit to the Municipality ~ - pay a base price of $200 fa a curb cut to the Municipality and the buy« b aware there may be additional _ . pay GST (prior to June 30, 2010) or AST (after July 1, 2010) in addition. The buyer is aware that at ti¢le of building permit additidnal levies ere [o be paid including: - regional $18,521 - - ~ - municipal - . $13.785 - - educational public $ - 635 _ ._ separate $ 364 The buyer is aware that these are 201 D levies and subject to review June 30, 2D30. The buyu is responsible to verity and satisfy themselveses to all costs and levies for this lot. ~ - - Thebuyer isawarethatthis aformer site of a Fbt: Hall and~that a Phase 1 and Phase 2 Environmental Site Assessment - has been done and agrees to purchase the lot as is. - -_ - 7hebuyers enters onto these properties at their own risk and liability. _, The buy« is aware that the lots at l82 George Reynolds Drive require fencing on the west side and 394 George Reynolds brive require fencing on rho east and nonh sides. All fencing is subje« to Municipal approval. This Form must be Initialed by all parties to d]e Agreement of Purch ad Sale. ._ - - ' INRIALS,OF BUYER(S)[INITIALS OF SELLER(S): ~•~ ® O2fga, Onpe Ped fate l,rrsimbn l'ORFA~. PIIrp4n riwed.~Thn Mn xm brivw mE mvAduuai - oiy„wmyn wd 5mma aJy.MryoFa ~.e w,ymdudmi. pohboed mup: ih p~ ~iuu,mnmrdaRFA iwm 1D5 200a iop~lefl' " "' wEafomn^ Nwn00] • e z, j Y 3 ~~ ~ .. .o _ .. ~ s tavd /~~.. 1. ~ 6f _ ~ - ~ ~ ~ ~ s 6 Q - •; ~ y O a ^ N '~~ - n l = ~ ,r. 4 O ~ ~ ~ iavd . id - °~/ `. ~ ` ~ ~ - ~ ~ 4 ~ ' ' ` -.. 'S. e, +~ aver : ~.M ~sh9LN~ __ , . . ~ ~ ~ ~ ~ o = ~ ~ ~ £ . 12lVd / 1 ' $ 41 ~~ 1 M ACRrA1 N 4 l6•£~' S ~ 4 Q Z - ~ ' G 6 4 ~~ o• P Z, 121tld ~ ^ `~ / i L 121Vd 8 ~ - - ,~ - -