HomeMy WebLinkAbout72-35THE CORPORATION OF THE TOWN OF BOWMANVILLE
BY -LAW NUMBER
Being a by -law to authorize the sale of lands
to Bowmanville Warehousing Limited for the
establishment of industry.
WHEREAS by By -law 68 -10, passed on the 9th day
of April, 1968, by vote in excess of three- fourths of all the
members of the Council of the Corporation of the Town of Bow-
manville, the said Corporation did authorize the purchase of
certain lands in Township lots 8 and 9 in the first cone scion
for the establishment of industry.
AND WHEREAS the Corporation of the Town of Bow-
manville has agreed to sell a certain parcel of the said lands
situate in Township lot 8, in the first concession to Bowmanville
Warehousing Limited for the establishment and carrying on of
industry.
NOW THEREFORE the Council of The Corporation of
the Town of Bowmanville, pursuant to The Municipal Act, R.S.O.
1970, Chapter 284, Section 354(1 ), Paragraph 50, HEREBY ENACTS
as follows:
1. That the Corporation of the Town of Bowman-
ville do accept an Agreement of Purchase and Sale and do sell
and convey to Bowmanville Warehousing Limited for the establish-
ment of industry a parcel of land having 200 feet frontage; on
the east side of Mearns Ave. and a depth of approximately 285 feet,
being the southerly 200 feet of the parcel having an area of
2.018 acres as shown on a Plan of Survey by M.D. Brown dated
March 31st,1968 which is attached hereto and marked Schedule "A",
and outlined in red. Subject to the terms and conditions as set
out in an Offer to Purchase made by Bowmanville Warehousing Limited
on the 29th day of June, 1972.
2. That the purchase price for the said property
shall be $3,500.00 per acre.
3. That the conveyance to Bowmanville Warehousing
Limited, shall contain a restrictive covenant to the effect that
it shall construct a building Suitable to the carrying on of its
business operation on the said lands within one year from the
completion of the transaction and registration of the deed; Provided
that its failure to construct the said building within the speci-
fied time shall result in the said lands reverting to the Town
of Bowmanville and becoming the property of the Town of Bowman-
ville, upon the Town paying to Bowmanville Warehousing Limited,
the purchase price paid for the said lands less 5% of the said
purchase price and the cost of obtaining the re-conveyance; And
further provided that Bowmanville Warehousing Limited will agree
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to execute a re-conveyance of the said lands in the event of
its failure to construct the said building and upon repayment
of the purchase price_as aforesaid; And further provided that
an acknowledgment confirming that the said building has been
constructed signed by the Mayor-and the Clerk of the Town with
the Corporate Seal of the Municipality attached shall be good
and sufficient evidence that the above covenants and restric-
tions have been complied with and that the title of Bowmanville
Warehousing Limited is absolute.
4. That Bowmanville Warehousing Limited be granted
an option for one year from the date of acceptance of the said
offer to purchase by the Town of Bowmanville, to purchas6 the
remainder of the said area of 2.018 acres on the east sid of.
Mearns Ave as shown on said Plan of Survey, having 106 feet more
or less frontage ato, the price of $3,500-00 per acre, with the
said option to be exercised by the purchaser in writing at least
10 days prior to the expiration of the one year period for the
erection of a building as hereinbefore provided and such sale
to be completed within 90 days after the exercise of the option.
5. That the Mayor and Clerk be and are hereby
authorized to execute the said Agreement of Purchase and Sale
and a conveyance of the said lands and impress the Corporate
Seal thereto and to excute any other documents necessary to
complete this transaction.
READ a first and second time this day of July, 1972.
READ a third time and finally passed this t^_day of Ajo"-ir, 1972•
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