HomeMy WebLinkAbout73-57THE CORPORATION OF THE
TOWN OF BOWMANVILLE
By -Law No. 73 -57
Being a by -law to authorize the sale
of lands to Veltri & Sons Limited
WHEREAS the Corporation of the Town of Bowmanville hereinafter called
the "TOWN ", holds certain lands and premises known as the Fire Hall property
and being more particularly hereinafter described for Municipal purposes and
no longer require the said lands for such purposes.
AND WHEREAS the Council of the Town is desireous of selling the said
lands and has offered them for sale by Public Tender.
AND WHEREAS Veltri & Sons Limited have agreed to purchase the said
lands at the highest tender upon the terms and conditions hereinafter set
out.
NOW THEREFORE the Council of the Town pursuant to the Municipal Act,
R.S.O. 1970, Chapter 284, Section 336 (1), HEREBY ENACTS as follows:-
1. That the Town sell and convey to Veltri & Sons Limited the lands and
premises known as the Fire Hall property being part of original
Township Lot 12 in the lst Concession in the Township of Darlington,
now in the Town of Bowmanville, in the County of Durham and being
part of Lot 124 in Block 11P11 on the South side of Church Street according
to a Plan of the Town of Bowmanville made by J. Grant, P.L.S., registered
on the 10th day of April, 1852 and being more particularly described
and shown as part 2 on a Reference Plan deposited on the 3rd day of
May, 1973, as Plan 1OR -111.
2. The purchase price shall be $24,000.00.
3. That the conveyance to Veltri & Sons Limited shall contain restrictive
convenants to the effect that it shall demolish the building now situated
on the lands and premises within six months from the date of closing and
that within one year of the date of closing and registration of the deed
Veltr & Sons will have commenced to erect a new building for commercial
and apartment purposes; provided that its failure to demolish the said
building and commence to construct a new commercial and apartment building
within the times above specified shall in either event 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 Veltri & Sons Limited the
purchase price paid-for the said lands less 10% of the said purchase price
and the cost of obtaining the re- conveyance; And further provided that
Veltri & Sons Limited will agree to execute a re- conveyance to the said
lands in the event of its failure to either demolish the said building or
commence the construction of a new commercial and apartment building and
upon repayment of the purchase price as aforesaid; And further provided
that an acknowledgement confirming that the said building has been
demolished and the new commercial and apartment building constructed
signed by the Mayor and the Clerk of the Town or by the Mayor and Clerk
of the Town's Successor Municipal Corporation,
_ 2 _
the Municipality of Newcastle with the Corporate Seal of
appropriate Municipality attached, shall be a good and sufficient
evidence that the above convenants and restrictions have been com-
plied with and that the title of Veltri &'Sons Limited is
absolute.
4. The Mayor and the Clerk be and are hereby authorized
to execute the said conveyance of the said lands and impress the
Corporate Seal themlto and to execute any other documents
necessary.to: complete this transaction.
Lk
READ 'a first and second time this day of September, 1973.
READ a third time and finally passed this day of September, 1973.
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Clerk