HomeMy WebLinkAbout73-59THE CORPORATION OF THE TOWN OF BOWMANVILLE
BY -LAW NUMBER 73 -59
Being a By -law to authorize the sale of
lands to Bowmanville Crane Manufacturing
Limited for the establishment of industry.
WHEREAS by By -Law No. 68 -43 passed by a vote in excess
of three - fourths of all the members of the Council of the Corp-
oration of the .Town of Bowmanville, on the 4th day of November,
1968, The Corporation of the Town of Bowmanville did authorize
the purchase of certain land in original Township Lots Numbered
9 & 10 in the Broken Front Concession :br the establishment of
industry.
AND WHEREAS the Corporation of the Town of Bowmanvilb
has agreed to sell a certain parcel of the said lands, more
particularly described in Schedule "A" attached hereto, to
Bowmanville Crane Manufacturing 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 Bowmanville
do sell and convey to Bowmanville Crane_ Manufacturing; Limited,
for the establishment of industry, 1.366 acres of land being
parts of original Township Lots Numbered 9 &'10, in the
Broken Front Concession as more particularly described on
Schedule "A" attached hereto and shown as Part 3 on Reference
Plan 1OR 251 deposited on the 29th day of October, 1973, -a copy
of which is attached hereto and marked as Schedule "BtO
2. That the purchase price shall be $8,130.00.
3. That the conveyance to Bowmanville Crane Manufacturing
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 specified time shall result in the said lands reverting to
the Town of Bowmanville and becoming ;the property of the Town of
Bowmanville upon the Town paying to Bowmanville Crane Manufacturing
Limited, the purchase price paid for the said lands less 10%
of the said purchase price and the ccet of obtaining the re
conveyance And Further provided that Bowmanville Crane Manu-
facturing Limited, will agree 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
2 -
said building has been constructed signed; by the Mayor and the
Clerk of the Town or its, - successor municipality, the Town of
Newcastle with the Corporate Seal of the municipality attached,
shall be good and sufficient evidence that the above covenants
and restrictions have been complied with and that the title of
Bowmanville Crane Manufacturing Limited, is absolute.
4. That Bowmanville Crane Manufacturing Limited be
granted an option for two years from date of completion of the
sale and purchase of part three, Reference Plan 1OR 251, and
registration of the deed in that transaction, to purchase part
two on Reference Plan 1OR 251 containing 1.487 acres at the
price of $8,922.00, with the said option to be exercised by
the purchaser in writing atleast ten days prior to the expiration
of the two year period for the erection of a building m herein
before provided and subject to the said building having been
constructed by the purchaser, and such sale is to be completed
with ninety days after the exercise of the option.
5. That the Mayor and the Clerk be and are hereby
authorized and directed to execute a conveyance of the lands
being purchased and also the option to purchase the further
lands and impress the Corporate Seal thereon and to
execute any other documents necessary to complete this trans-
action.
READ a first and second time this 2nd day of October, 1973.
READ a third time and finally passed this 2nd day of October, 1973.
PfClerk
SCHEDULE "A"
ALL AND SINGULAR that certain parcel or tract of land and premises
situate, lying and being in the Town of Bowmanville, in the Courly
of Durham and Province of Ontario and being composed of parts
of original Township Lots 9 & 10 in the Broken Front Concession
containing 1.366 acres and being all of Lots numbered 10 and 17,
part of Fourth Street, parts of Lots 9 and 16 and part of the
Laneway, all in Block "K ", all according to the Smart Estate
Plan of subdivision made by L. H. Shortt, P.L.'S., and dated
the 4th day of May, 1858, said parcel or tract of land being
shown as Part 3 o Reference Plan deposited as Plan 1OR;251 on
the 29th day of 'October, ;1973.
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