3046 To authorize the acquisition of certain lands for Municipal : Purposes and borrowing of funds to pay for the acquisition herein :THE CORPORATION OF THE TOWN OF TILLSONBURG
BY-LAW 3046
A BY-LAW to authorize the acquisition of certain lands for Municipal
Purposes and borrowing of funds to pay for the acquisition herein
WHEREAS pursuant to Section 8 of the Municipal Act, 2001, S.O. 2001, C.25, a
municipality has the capacity, rights, powers and privileges of a natural person for the
purpose of exercising its authority under this or any other Act,
AND WHEREAS the Ontario Flue- Cured Tobacco Growers Marketing Board has
agreed to sell to the Corporation of the Town of Tillsonburg certain lands and building in
accordance with Agreement of Purchase and Sale dated February 3rd, 2003 attached
herewith as Schedule "A" to this By -Law.
AND WHEREAS the Council of the Town of Tillsonburg approved the terms of the
Agreement attached as Schedule "A" on January 30th, 2003.
AND WHEREAS it is deemed expedient to purchase those lands as detailed in Schedule
"A" attached hereto for the purposes of the Corporation in accordance with the terms and
conditions detailed in Schedule "A".
NOW THEREFORE the Council of the Corporation of the Town of Tillsonburg enacts
as follows:
1. That the acquisition of the lands by the Corporation of the Town of Tillsonburg
for municipal purposes as described in Schedule "A" attached are hereby
authorized.
2. That Schedule "A" hereto attached is declared to be part of this by-law as if
written and incorporated herein.
3. That the Treasurer may agree and arrange with any bank, person or the County of
Oxford for financing of this acquisition on a temporary basis with payments from
time to time of interest only.
4. That the Mayor and Clerk are hereby authorized to execute such documents on
behalf of the Town. of Tillsonburg to carry out the purchase of the land, building
and chattels herein as described in Schedule "A" attached hereto.
5. This By -Law shall come into force and effect upon enactment.
READ a First, Second and Third Time, Signed, Sealed and Numbered 3046 this I 01
day of February, 2003.
M r
Clerk
OM,,tedEsicft AGREEMENT OF PURCHASE AND SALE — COMMERCIAL
�cn (FOR USE IN THE PROVINCE OF ONTARIO)
PEA[TOtz
BUYER,. The COr ration of the Town of Tillsonbur ..............................o agrees to purchase from
Po.........................................................9 s
(FuR'legal'mnws of'ol(9uyen�
SELLER,..The_O.ntario.Flue Cured Tobacco Growers Marketing,BOard „.................. .............I................................., the following
(Fufl (ego( nomes of ol(Sellen)
REAL PROPERTY:
Address.60.Cedar Street ................ fronting on the...ea.,St........ .............. side of.Cedaf,Street........
........................
..........................................
in the..Tow ..of.Tillson.burg .......... .......
.....................................................................................................................................................................................
and having a frontage of...........................................................more or less by a depth of................................................................more or less and legally described as
Plan.�6,LQts1-12.,�.�,�$,CQ.4!nty of Qxford,bging aRpr9x.1.$r�.b.acra$�.t49ether vyith.an...................
..................................
industrial.building.............................................................................................................................................................................................(the "property").
(legol description of land including easements not described elsewhere)
PURCHASE PRICE: OneMillion One Hundred and Five Thousand ........... Dollars (CDN$.1,105,.000:00..................... ...........
............................................. I ................. .................. .......................
DEPOSIT:
Twenty -Five Thousand 25 000 00
Buyer submits (...upon acce lance . ) ........ty ................ .......................................... Dollars (CDNS......r....... �...... )
(Herewi /Upon occeptoncel
by negotiable cheque payabler,..J.J.Barnieke London.....Sarnia...........
Ltd .............. to be held ;n trust without interest pending completion or
..........................
other termination of this Agreement and to be credited toward the Purchase Price on completion. Buyer agrees to pay the balance as follows:
by certified cheque or bank draft subject to adjustments to the Seller on closing.
The Seller represents and warrants to the best of the Seller's knowledge and belief that during the period of his ownership of the property, that all
environmental laws and regulations have been complied with, no hazardous conditions or substances exist on the land, no limitations or restrictions affecting
the continued use of the property exist, other than those specifically provided for herein, no pending litigation respecting Environmental matters; no outstanding
Ministry of Environment and Energy Orders, investigations, charges or prosecutions regarding Environmental matters exist, there has been no prior use as a
waste disposal site,and all applicable licenses are in force. The Seller agrees to provide to the Buyer upon request, all documents, records. and reports
relating to environmental matters that are in the possession of the Seller. The Seller further authorizes the Ministry of the Environment to release to the Buyer,
the Buyer's agent or solicitor, any and all information that may be on record in the Ministry office with respect to the said property. The Parties agree that this
representation and warranty shall form an integral part of this Agreement and survive the completion of this transaction, but apply only to circumstances
existing at completion of this transaction.
SCHEDULE(S)..................................................... attached hereto form(s) port of this Agreement.
1. CHATTELS INCLUDED:..all cafeteria equipment, cookwaret utensils,_ tables and chairs, ..
Y
2. FIXTURES EXCLUDED:....._ ................ ............_.......-......._._
..............................................................................................................................................................................................................................................
3. RENTAL ITEMS: The following equipment ;s rented and not included in the Purchase Price. The Buyer agrees to assume the rental controct(s), if assumable:
. hot water heater I ...... I........ ....................................
4. IRREVOCABILITY: This Offer shall be irrevocable by..Ru er 5'00 p 31 y Janua ................. 2o._03....
l�lle</ei: ir(........... until ... �.............. m. on the........................ da of...... ...ry......
after which time, if not accepted, this Offer shall be null and void and the deposit shall be returned to the Buyer ;n full without interest.
5. COMPLETION DATE: This Agreement shall be completed by no later than 6:00 p.m.on the.2.6.................... day of..FebrutialrY.............. .................. .., 20.4..3...... .
Upon completion, vacant possession of the property shall be given to the Buyer unless otherwise provided for in this Agreement.
6. NOTICES: Seller hereby appoints the listing Broker as Ant for the purpose of giving and receiving notices pursuant to this Agreement. Only if the Co-operoting
Broker represents the interests of the Buyer in As transaction, the Buyer hereby a points the Cooperoting Broker as Agent for the purpose of giving and
receiving notices pursuant to this Agreement. Any notice relating hereto or provided for herein shall be in writing. This offer, any counter offer, notice of acceptance thereof,
or any notice sholl be deemed given and received, when hand delivered to the address for service provided in the Acknowledgement below, or where a facsimile number
is provided herein, when transmitted electronically to that facsimile number.
FAX No ................ ................. ......... ........................ llor delivery of notices to Seller) FAX No................................................................... ......... (for delivery of notices to Buyer)
7. GST: If this transaction is subject to Goods and Services Tax (GST), then such tax shall be in addition to the Purchase Price. The Seller will not
collect GST if the Buyer provides to the Seiler a warranty that the Buyer is registered under the Excise Tax Act ("ETA"), together with a copy of the Buyer's ETA re istration,
a warranty that the Buyer shall selfossess and remit the GST payable and file the prescribed form and shall indemnify the Seller in respect of any GST payable. The foregoing
warranties shall not merge but shall survive the completion of the transaction. If this transaction is not subject to GST, Seller agrees to certify on or before closing, that the
transaction is not subject to GST.
8. TITLE SEARCH: Buyer shall be allowed until 6:00 p.m. on the..8.........................day of..Feb Ary......................... 20..03....................., (Requisition Dote) to
e e
examine the title to the property at his own expense and until tharlier of: (i) 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 qty prior to completion, to satisfy himself that there are no outstanding work orders or deficiency notices effecting
the property, that its present use (.W?fg0.'r!Se.11@�M',..............................................................................................................) may be lawfully continued and
that the principal building may be insured against risk of fire. Seller hereby consents to the municipality or other governmental agencies releasing to Buyer details of all
outstanding work orders affecting the property, and Seller agrees to 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 any kind that the future intended use of the property by Buyer is or will be lawful except
as may be specifically provided for in this Agreement.
10. TITLE: Provided that the title to the property is good and free from all registered restrictions, charges, liens, and encumbrances except as otherwise specifically provided
in this Agreement and save and except for (a) any registered restrictions or covenants that run with the land Providing that such are complied with; (b) any registered
municpol agreements and registered agreements with publicly regulated utilities providing such have been complied with, or security has been posted to ensure compliance
and completion, as evidenced by a letter from the relevant municipality or regulated utility; (c) any minor easements for the supply of domestic utility or telephone services
to the property or adjacent properties; and (d) any easements for drainage, storm or sanitary sewers, public utility lines, telephone lines, cable television lines or other
services which do not materially affect the present use of the property. if within the specified times referred to in paragraph 8 any valid objection to title or to any outstanding
work order or deficiency 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 unable or unwilling to remove, remedy or satisfy or obtain insurance save and except against risk of fire in Favour of the Buyer
and any mortgagee, (with oil related costs at the expense of the Seller), and which Buyer will not waive, this Agreement notwithstanding any intermediate acts or
negotiations in respect of such objections, shall be at an end and all monies paid shall be returned without interest or deduction and Seller, listing Broker and Co-operating
Broker shall not be liable for any costs or damages. Save as to any valid objection so made by such day and except for any objection going to the root of the title, Buyer
shall be conclusively deemed to have occepted Seller's title to the property.
1 1. CLOSING ARRANGEMENTS: Where each of the Seller and Buyer retain a lawyer to 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 Registrotion Reform Act, R.S.O. 1990, Chapter L4 and the Electronic Registrotion Act,
S.O. 1991, Chapter 44, and any amendments thereto, the Seller and Buyer acknowledge and agree that the 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 some time as the registration of the tronsfer/deed (and any
other documents intended to be registered in connection with the completion of this transaction) and (b) be subject to conditions whereby the lowyer(s) receiving any of the
Requisite Deliveries will be required to hold some in trust and not release some except in accordance with the terms of a document registration agreement between the
said lawyers, the form of which is as recommended from time to time by the low Society 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.
OREA Standard Form: Do not alter when printing or reproducing the standard pre-set portion. Form No. 126 01/02
WEBFormsT" Jan/2002
.02/
PO4
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