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2988 To authroize the Mayor and Clerk to execute an agreement between the Town of Tillsonburg and the Tillsonburg minor soccer club and to repeal By-Law 2943CORPORATION OF THE TOWN OF TILLSONBURG BY-LAW NO. 2988 BEING A BY-LAW TO AUTHORIZE THE MAYORANDCLERKTOEXECUTEAN AGREEMENT BETWEEN THE TOWN OF TILLSONBURG AND THE TILLSONBURG MINOR SOCCER CLUB AND TO REPEAL BY- LAW 2943. WHEREAS Municipal Councils may pass by-laws for the acquisition, laying out and improving land for the purpose of Public Parks pursuant to Section 207(52) of the Municipal Act, R.S.O. 1990, Chap. M.45. AND WHEREAS the Council of the Corporation of the Town ofTillsonburg is desirous of entering into an agreement with Tillsonburg Minor Soccer for the acquisition, development and maintenance of certain lands within the Town ofTillsonburg for Public Parkland for the purpose of Soccer Fields. NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF TILLSONBURG ENACTS AS FOLLOWS: 1. THAT the Council of the Town ofTillsonburg hereby authorizes the entering into of an Agreement between the Corporation of the Town ofTillsonburg and Tillsonburg Minor Soccer.Club for the acquisition, improvement and maintenance of certain land within the Town ofTillsonburg for Public Parkland for the purpose of development of soccer fields and such other related appurtenances in accordance with the Agreement attached hereto as Schedule "A" to this by-law. 2. THAT Schedule "A" attached hereto is hereby declared to be part of this by-law as i f written and incorporated herein. 3. THAT the Mayor and Clerk be and are hereby authorized to execute, on behalf of the Corporation of the Town ofTillsonburg, all documents required to implement the terms of the Agreement attached as Schedule "A" to this by-law. 4. THAT this By-law shall come into ful l force and effect upon enactment. 5. THAT By-law No. 2943 be hereby repealed. READ A FIRST, SECOND AND THIRD TIME, AND FINALLY PASSED this 9th day of October, 2001. MAfi TILLSO NBURG MIN OR SOCCER CL UB AGRE EMENT THIS AGREEMENT made in triplicate this 1st day of October, 2001. BETWEEN : THE CORPORATION OF THE TOWN OF TILLSONBURG hereinafter called the "Tillsonburg" and TILLSONBURG MINOR SOCCER CLUB hereinafter called "the Club" OF THE FI RST PART OF THE SECOND PART WHEREAS the Club has entered into a Conditional Agreement of Purchase and Sale dated May 9th, 2000, which Agreement was amended by Agreement dated May 26th, 2000, with the Vendor, Andy Jacko Farms Limited, to purchase Part Lot 8, Concession 11, Town of Tillsonburg, County of Oxford, consisting of twenty-eight (28) acres more or less, for the purchase price of TWO HUNDRED AND FIFTY THOUSAND ($250,000.00 ) DOLLARS. AND WHEREAS Tillsonburg and the Club wish to enter into an Agreement with respect to the acquisition of this property, the development of Soccer Fields and a Club House thereon and the use of this property. NOW THEREFORE THIS AGREEMENT WI TNESSETH THAT : 1. The Club will assign its rights in the aforesaid Agreement of Purchase and Sale to Tillsonburg and Tillsonburg will be the owner of the subject property and pay the amount of TWO HUNDRED AND FIFTY THOUSAND ($250,000.00 ) DOLLARS on behalf of the Club. 2. The Club will pay to Tillsonburg the sum of NINETY THOUSAND ($90,000.00 ) DOLLARS over the next ten (10) years with interest at a prime rate on outstanding balance calculated annually . The Club shall make annual payments to Tillsonburg commencing not later than 2003 and ending not later than 2 0 09. 3. The Club will develop the subject lands for Soccer Fields, including necessary roads, parking lots, drainage and fencing, such development to be subject to the approval of Tillsonburg, which development costs are estimated to be SIXTY THOUSAND ($60,000.00 ) DOLLARS . 4 . The Club will develop a Club House at its cost subject to the approval of Tillsonburg. Tillsonburg will facilitate the financing of this building by way of co-signing a loan up to an amount of THREE HUNDRED THOUSAND ($300,000.00 ) DOLLARS, to be arranged by the Club . 5. The Club shall arrange an easement for the provision of sewer and water over adjacent lands from Quarter Town Line Road to the proposed Club House . The Town shall have constructed necessary sewer and water lines over this easement by May 1, 2 0 02 or as may be mutually agreeable. One third o f the cost of this shall be born by the Club upon construction and the remainder shall be recovered by Tillsonburg from adjacent development as and when possible . 6. The Club will construct a road onto the site and Tillsonburg will p r ovide assistance in the form of provision for culverts for the Quarter Town Line Road ditch and a drainage ditch through the property. -2 - 7. The Club shall assume all costs for construction and maintenance of all facilities constructed on the subject lands other than as provided herein with the exception of snowplowing which shall be carried out by the Town. 8. Tillsonburg and the Club agree that the Club shall have priority use of the property for the use of its members as a Soccer Facility. 9. The Club shall arrange sufficient replacement cost property insurance for such buildings constructed on the lands herein as well as sufficient liability insurance as shall be approved by Tillsonburg . The Club and the Town may mutually agree to provide this coverage through the Town's insurance at the Club's cost. 10 . The Club shall provide annual financial statements to Ti llsonburg within three (3) months following the close of its fiscal year. In addition, the Club shall provide quarterly statements to Tillsonburg disclosing the status of its fundraising campaign until such time as its financial obligations contained herein are discharged . IN WI TNESS WHEREOF the parties hereto have hereunto set their h ands and seals this l 5 t day of October, 2001. S I GNED , SEALD AND DELIVERED In the presence of: )THE CORPORATION OF THE TOWN OF TILLSONBURG ) ) )Per : fd/ !Irv~ c ~~S"=+- )David C . Morris, CAO /Clerk ) )TI LLSONBURG S OCCER CLUB ) ) Per : ) ) )~~......:.:.j.L!:.:t!::l::=:b.__!:::~~~:!z_~~~~~~ ) ) )~~-=~~::......£~~~=--~,LJ:.-=:...:..:.::.~~~