1999-083
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THE CORpORATION OF THE TOWNSHip OF ORO-MEDONTE
SITE pLAN CONTROL
BY-LAW NO. 99-83
BEING A BY-LAW TO AUTHORIZE THE EXECUTION OF A SITE PLAN
CONTROL AGREEMENT.
WHEREAS By-Law No. 94-149, a By-Law to Designate Parts of the Township as Site Plan
Control Areas, was passed by Council for the Township of Oro-Medonte pursuant to the
provisions of the Planning Act, 1990, R.S.O. c. P. 13, as amended;
AND WHEREAS the lands referred to in this By-Law are subject to Site Plan Control
pursuant to By-Law No. 94-149;
AND WHEREAS authority to enter into Site Plan Control Agreements is provided for in
Section 41 of The Planning Act, R.S.O. 1990 c. P. 13, as amended, and Council deems it
necessary to enter into a Site Plan Control Agreement on the lands described herein;
NOW THEREFORE the Council of The Corporation of the Township of Oro-Medonte
hereby enacts as follows:
1. THAT the Township enter into the Site Plan Control Agreement attached hereto, as
Appendix "B", on lands described on the attached Schedule "A";
2. THAT the Mayor and Clerk are hereby authorized to execute the Site Plan Control
Agreement on behalf of the Corporation of the Township of Oro-Medonte;
3. THAT the attached Schedule "A" and Appendix "B" shall form part of this By-Law;
4. THAT this By-Law shall come into force and take effect upon being enacted by Council.
BY-LAW READ A FIRST AND SECOND TIME THIS 21st
DAY OF JULY 1999.
BY-LAW READ A THIRD TIME AND FINALLY PASSED THIS 21st OF
JULY 1999.
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
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MAYOR IAN BEARD
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Ontario
Document General
Form 4 -- Land Registration Reform Act
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Schedule
(8) This Documant prOVides 8S follows:
(1) Registry ~
3) Property
Identlfler(s)
Land Titles ~ (2) Page 1 of
BlocK Property
pages
Aci:lltionaJ:
....
SChedule
4) Nature of Document
APPLICATION FOR ENTRY OF NOTICE
OF AGREEMENT
Nil------------------------oollars $ 00.00
Firstly: Part of the road allowance between
Concessions 6 and 7, closed by By-law 90-101,
registered as Instrument No. 1407495, and
part of the west quarter of Lot 2, Concession
Township of Oro-Medonte (formerly Township of
Oro), County of Simcoe, designated as Parts 1
and 2, Plan 51R-28724,
Continued on schedule attached.
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(7) Thl.
Document
Contains:
:(b) Schedule For:
, Additional D C1
D ! Description 8!] Parties Other ~
(a) Redescription
New Easement
Plan/Sketch
To: The Land Registrar for the Land Titles Division of Simcoe (No. 51)
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE, has an unregistered estate,
right, interest or equity in
1.
The land registered in the
104-2, Section 51M-368,
designated as Parts 13 and
name of MODCO INVESTMENTS LIMITED
being Part of Block 104, Plan
14, Plan 51R-28724
as Parcel
51M-368,
AND hereby apply under Section 71 of the Land Titles Act for the entry of a
Notice of Agreement attached hereto in the Register for the said parcel.
Agreement attached.
9) This Document relates to Instrument number(s)
(10) Party(les) (Set out Status Of Intersst)
Name(s)
THE CORPORATION OF THE TOWNSHIP
Continued on Schedule 0
Signature(s)
Date of signature
Y M 0
. . . . . . . . . . . . . . . . . . . - . - . . . . . . . . . . . . . . . . . . . . . . . . . - . . . . . - . - . - .. .. - - . - - - - . -
........ --, ..-..-............... ...................
OF ORO-MEDONTE (Municipality), by
Per:
its solicitors, RUSSELL, CHRISTIE,
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MILLER, KOUGHAN, WINNITOY
(11) AddrlJ&&
fDr..nltee P.O. Box 100,
(12) Party(is&) (Set out Status or Interest)
Name(s)
William S. Koughan
Oro, Ontario, LOL 2XO
s!gnature(s)
Date ot Signature
Y M 0
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.MQPCD __ImmSTMENTS. .LTD.... __..... __. __............ __.
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(13) Address
for .enltee 15 Hicko
(14) Municipal Address of property
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Lane, R.R. #4, Coldwater, Ontario, LOK 1EO
(15) Document prepared by:
Fees and Tax:
Not assigned
An ExoerText Systems Ltd. Form
WILLIAM 9. KOUGHAN _........
RUSSEU., CHRISTIE. MII.LER, """""",,,'
BARRISTERS & 8OI.JCrI'OIIS
BOX 158,605MiMORIALAVBIUE
ORIL.1JI\, ONTARIO L.SV 8J3
(705) 325-1328 FAX (705) "'811
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Schedule
DYE & DURHAM co. INC.-Form No.9
Amended NOV. 1992
Form 5 - Land Registration Reform Act
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Addllional Property Identifier(s) and/or Other Information
Page
Box 6 (Description) Continued
Secondly:
Thirdlv:
Fourthly:
Fifthly:
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Part of the road allowance between Concessions 6 and 7, stopped up and closed by
By-law 90-101, registered as Instrument No. 1407495 and part of the west quarter
of Lot 2, Concession 7, Township of Oro-Medonte (formerly Township of Oro),
County of Simcoe, designated as Parts 3,4,5,6,7,8 and 9, Plan 51R-28724;
Part of the road allowance between Concessions 6 and 7, stopped up and closed by
By-law 90-101, registered as Instrument No. 1407495, part of the west quarter of
Lot 2, Concession 7, and part of the west half of Lot 3, Concession 7, Township of
Oro-Medonte (formerly Township ofOro), County of Simcoe, designated as Parts 10
and 11, Plan 51R-28724;
Part of the road allowance between Concessions 6 and 7, stopped up and closed by
By-law 90-101, registered as Instrument No. 1407495 and part of the west quarter
of Lot 2, Concession 7, Township ofOro-Medonte (formerly Township ofOro),
County of Simcoe, designated as Part 12, Plan 51R-28724;
Parcel 104-2, Section 5M-368, being part of Block 104, Plan 51R-368, in the
Township of Oro-Medonte (formerly Township of Oro), County of Simcoe,
designated as Parts 13 and 14, Plan 51R-28724.
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SITE PLAN AGREEMENT
- between -
MODCO INVESTMENTS LTD.
- and -
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
DESCRIPTION OF LANDS
Plan 51R-28724 Plan of Survey
Part of Block 104 Reg. Plan No. 51M-368
Part of the West v.. of Lot 2
Part of the West y, of Lot 3
Concession 7
Part of the Original Road Allowance between Concession 6 & 7
(Stopped up and Closed by By-Law No. 90-101, Instrument # 1407495)
(Geographic Township ofOro)
TOWNSHIP OF ORO-MEDONTE
COUNTY OF SIMCOE
a
June 1999
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Section I
Section 2
Section 3
Section 4
Section 5
Section 6
Section 7
Section 8
Section 9
Section 10
Section II
Schedule "A"
Schedule "B"
Schedule "C"
Schedule "D"
Schedule "E"
THE TOWNSHIP OF ORO-MEDONTE
SITE PLAN AGREEMENT
TABLE OF CONTENTS
Covenants by the Owner
Covenants by the Township
Covenants by the Mortgagee
Development Restrictions
Development Changes
Security
Compliance
Co-operation
Binding Effect
Severability of Clauses
Save Harmless
SCHEDULES
Legal Description of Lands
Site Plan
Deeds and Easements to be Conveyed
Itemized Estimate of Cost of Construction
Standard Township Letter of Credit
2
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a
SITE pLAN CONTROL AGREEMENT
This Agreement made in quadruplicate this day of
accordance with Section 41 of the Planning Act.
,1999, in
BETWEEN:
MODCO INVESTMENTS LTD
Hereinafter called the "Owner"
PARTY OF THE FIRST PART
-and-
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
Hereinafter called the "Township"
PARTY OF THE SECOND PART
WHEREAS the Owner has applied to the Township of Oro-Medonte to permit eleven (11)
single family homes on lands described in Schedule "A", attached hereto:
AND WHEREAS the Township has enacted a By-law to provide for the designation of the
lands as a "Site Plan Control Area";
AND WHEREAS the Owner intends to develop the lands in accordance with the Site Plan
attached hereto as Schedule "B";
NOW THEREFORE This Agreement Witnesseth THAT in consideration of the mutual
covenants hereinafter contained, the parties hereto hereby covenant and agree as follows:
3
1. COVENANTS BY THE OWNER
The Owner covenants and agrees as follows:
a)
The Owner owns the subject lands described in Schedule "A", attached hereto and
has provided the Township with a Registered Deed containing the legal description of
the subject lands.
.
b) This Agreement may be registered against title to these subject lands and shall take
priority over any subsequent registrations against the title to the subject lands.
c) No work shall be performed on the lands nor any use made of the subject lands with
respect to the proposed development except in conformity with all the provisions of
this Agreement.
d) The Owner shall, prior to the execution of this Agreement obtain all necessary permits
and approvals from the Township and from all Ministries and Agencies, including, but
not limited to the County of Simcoe District Health Unit and the Ministry of
Environment.
e) The Owner shall, prior to the execution of this Agreement, pay all Municipal taxes and
charges related to obtaining the approval of these lands for the intended use.
f) The Owner shall pay a refundable deposit for such reasonable costs as may be
involved to the Township in having its Solicitor, Engineer, Planner and Staff, perform
any work in connection with this Agreement, including the preparation, drafting,
execution, inspection and registration of this Agreement. The Owner acknowledges
and agrees that the Owner shall be responsible for the cost of performance of all the
Owner's obligations hereunder unless the context otherwise requires. Every provision
of this Agreement by which the Owner is obligated in any way shall be deemed to
include the works "at the expense of the Owner" unless specifically stated otherwise.
The refundable deposit for expenses and actual cost shall be $5,000.00. The owner
shall replenish the refundable deposit, to its full amount, when the Township submits
the expenses and actual costs.
g) That there is presently mortgage(s) registered against the title to the subject
property in favour of the Mortgagee.
h) The Owner shall file with the Township Solicitor, for his approval, a postponement of
Mortgage/Document.
i) The Owner shall have delivered to the Township all Transfers/Deeds, Discharges and
Easements or other documents required by Schedule "C", as well as certification from
the Owner's Solicitor that the Transfer/Deeds and Easements shall provide the
Township with good title, free and clear from all encumbrances.
2. COVENANTS BY THE TOWNSHIP
The Township covenants and agrees as follows:
aa)
That the Township has enacted a By-law to permit the eleven (11) single family
homes described on the Site Plan.
b)
That the Township agrees that subject to compliance by the Owner with all relevant
Municipal By-laws and Provincial Statutes and Regulations, the Owner may proceed
to develop the subject lands as indicated on the Site Plan attached hereto as
Schedule "B", subject to the development restrictions contained herein.
4
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3. COVENANTS BY THE MORTGAGEE
The mortgagee covenants and agrees as follows:
ea)
That registration of this Agreement against the title to the subject property shall be
made and the Mortgagee agrees to postpone its mortgage interest in the property to
this Agreement.
4.
DEVELOPMENT RESTRICTIONS
The Parties hereto acknowledge and agree that any use of the subject lands by the Owner
shall be on and subject to the following terms and conditions:
a) Site Plan
The use and development of the subject lands shall be
in accordance with and as set out on the Site Plan
attached hereto as Schedule "B".
b) Liqhtinq
All lighting systems installed outside, such as
floodlights, shall be directed away from any
adjacent residential use and/or roadway, not
to cause interference in any way.
c) Parkinq Areas and Drivewavs
All parking areas and driveways shall be
constructed, in conformity with Section 5.19 & 5:20 of By-law No. 97-95,
as amended, and the Ontario Building Code Regulations 419/86 and
such parking areas, loading and access areas shall be kept free and
clear of snow and ice and kept adequately drained. All entrances shall
be constructed as in Schedule "B", attached. The Owner agrees to
obtain all necessary approvals from the Ministry of Transportation,
County of Simcoe and Township of Oro-Medonte.
d) Outside Storaqe
No outside storage shall be permitted between any
buildings on the premises and any street. Any other outside storage
shall be contained in the fenced compound as identified on Schedule
"B".
e) Landscapinq
The Owner shall complete all landscaping and
landscaped areas shown on the Site Plan, attached as
Schedule "B", as soon as weather permits and all
grading and sodding required according to any
Engineering drawings submitted, shall be done on all
lawn areas.
.
f)
Municipal Addressinq System
The owner shall be responsible for obtaining the municipal address
system numbers for each and every lot from the Township of Oro-
Medonte Administration Office.
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g) Buildinq Permits
Building Permits will not be issued until the Township Engineer has
given the Certificate of Substantial Completion and Acceptance
(Underground Services).
.
h)
PRESERVATION AND PLANTING OF TREES
The Owner must preserve all healthy trees within the limits of the Site
Plan where possible. If, in the opinion of the Township Engineer,
indiscriminate removal of trees takes place within the limits of the Site
Plan, the Township shall have the option of having a stop work order
on construction of the services and/or building on a particular lot where
the removal is taking place. Work will not be allowed to proceed until
the Township is satisfied that the practice will not continue and
remedial work requested by the Township is carried out. The Owner
agrees to provide a copy of this clause to each and every prospective
builder/ prospective purchaser. The Owner shall plant two(2) 2.4
metre or taller hardwood trees of a minimum of 50 mm calliper on each
lot having less than three (3) trees in the front yard(s).
i) ACCESS ROADS
All access roads must be maintained by the Owner in good repair
acceptable to the Township during the time of construction, including
dust control and the removal of any mud or debris tracked from the
Site Plan. The Owner shall repair any damages caused to an existing
road, road allowance or existing structure or plant located on the roaa
allowance as a result of the Site Plan Development.
j) DRAINAGE AND LOT GRADING
All lots and blocks within the Plan and all lands abutting the Plan shall
be graded to drain in accordance with the overall grading plan to be
prepared by the Owner's Engineer for approval by the Township
Engineer and the Simcoe County District Health Unit. Some fill and
regrading of lots may be necessary during or after building
construction. The grading Plan shall show all existing and final grades
on lot corners, as well as mid lot elevations, where deemed necessary
by the Township Engineer.
It is understood and agreed by the parties hereto that drainage of
surface water on the lots and blocks on the plan is the sole
responsibility of the respective lot owners once the required drainage
works have been constructed by the Owner.
.
The storm swales shall be landscaped and maintained by all
subsequent lot owners. The purpose of the storm swales is to
accommodate storm drainage waters from the subject lot and adjacent
lands. No lot owner in the Site Plan shall encumber or impede storm
drainage in any manner whatsoever. In the event that the Owner, or
any subsequent lot owner, obstructs, impedes, or interferes with the
storm drainage flow through any part of the storm swale, or interferes
with the acceptance of water from any connecting swales, then the
Township shall have the right, if it so elects, to enter upon the subject
lands to rectify such problems so that the swales can serve their
original purpose.
6
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Within the swale area, the Owner, and any subsequent lot owner, shall
not, construct any works, remove or permit to be removed any soil
from the said swale/easement, excavate, drill, install, erect or permit to
be excavated, drilled, installed or erected in, over, upon, under or
through the said swale/easement, any fence, well, foundation,
pavement, building or other structure or other installation.
The lot owner of any lot in the Site Plan upon which the Township
elects to enter for the purpose of rectifying the said work, hereby
agrees to indemnify and release the Township from and against all
claims, demands, actions or causes of action whatsoever arising as a
result of the Township or of its servants or agents entering upon the
lands for the purpose of correcting drainage problems. The cost of
such work will be for the account of the lot owner. Any invoices not
paid within thirty (30) days after due date, shall be added to the tax roll
and collected in a like manner as realty taxes, as per section 326 of
the Municipal Act.
The Owner agrees to deliver a copy of this Clause to each and every
prospective purchaser and/or builder obtaining a building permit for
any lot or part of a lot on the said Site Plan.
The Owner's Engineer shall prepare a drainage plan for the site for the
approval of the Township Engineer and the Simcoe County District
Health Unit. Generally, the arainage facilities will consist of open
ditches within the Site Plan. The plan will show how water will be
controlled on and off the site and will include swales and/or easements
where necessary.
5. DEVELOPMENT CHANGES
The parties acknowledge and agree that there shall be no changes to this Agreement or the
Schedules attached hereto unless and until such changes have been approved in writing by
all Parties.
6. SECURITY
Prior to signing the Agreement, the Owner will deposit with the Treasurer of the Township to
cover the faithful performance of the obligations of the Owner arising under this Agreement,
including but not limited to the construction of the works and services identified in Schedule
"D" to this Agreement (the "said Work"), the following securities:
a)
Cash in the amount of one-hundred percent (100%) of the estimated cost of the said
work as approved by the Township Engineer and Township Council, or:
b)
An irrevocable Letter of Credit from a Chartered Bank, issued in accordance with the
requirements of Schedule "E", with an automatic renewal clause, in the amount of one
hundred percent (100%) of the estimated costs of the said works, and as approved by
the Township Engineer. The Letter of Credit shall be for a minimum guaranteed
period of one (1) year or such time as the Township decides and shall be renewed
automatically, as necessary, thirty (30) days prior to expiration.
.c)
The Township reserves the right to accept or reject any of these alternative methods
of providing securities. Prior to depositing the securities, the Owner's Engineer shall
submit an estimate of the cost of the works to the Township Engineer for approval.
When the cost estimate has been approved, it will be set out in Schedule "D" of this
Agreement and will become the basis for the limits of the securities.
7
ee)
d)
Any Letter of Credit or security filed with the Township is based upon the estimated
cost of completing the various matters prescribed by this Agreement. However, all
Letters of Credit and Security received by the Township may be used as security for
any item or any other matter which under the terms of this Agreement is the
responsibility of the Owner, including without limiting the generality of the foregoing,
payment of engineering, legal, planning or other costs incurred by the Township which
are the responsibility of the Owner, under the terms of this Agreement.
Upon written notification by the Owners' agent, certifying that all required works for
which the Letter of Credit was submitted, have been completed in accordance with
the plans submitted and upon confirmation by the Township or its agent that the
Owner's obligations under this Agreement have been completed, the Township will
return said Letter of Credit. Ten percent (10%) of the original estimate to construct
the waterworks will be retained for two (2) years "The Maintenance Period" after
issuance of the Certificate of Substantial Completion and Acceptance (Underground
Services).
f)
If in the event of default of the Owner under any of the provisions of this Agreement,
it becomes necessary for the Township to realize on its security or deposits, then
the Township shall give by registered mail twenty-one (21) days notice, its intent to
draw down on the security or deposit.
7.
COMPLIANCE
Any action taken by the Township or on its behalf, pursuant to this Agreement shall be in
addition to and without prejudice to any security or other guarantee given on behalf of the
Owner for the performance of its covenants and agreements herein and upon default on the
part of the Owner hereunder, the Township shall, in addition to any other remedy available to
it, be at liberty to utilize the provisions of Section 325 of the Municipal Act, R.S.O. 1980,
Chapter 302, as amended.
8. CO-OPERA TION
The Owner consents to the registration of this Agreement by the Township upon the title of
the subject lands at the expense of the Owner and agrees to execute such further and other
documents, consents or applications as required for the purpose of securing registration and
giving effect to the provisions of this Agreement.
9. BINDING EFFECT
This Agreement and everything contained herein shall be binding upon the successors and
assigns of the Parties hereto and upon the lands described in Schedule "A", attached hereto,
such Schedule being a legal description of the lands, and it is further agreed that this
Agreement shall be prepared, approved and registered on title.
10. SEVERABILITY OF CLAUSES
Should any Section, Subsection, Clause, Paragraph or Provision of this Agreement be
declared by a Court of competent jurisdiction to be invalid, the same shall not affect the
validity of the Agreement as a whole or any part thereof, other than the provision so declared
.0 be invalid.
8
11. SAVE HARMLESS
Ir
The Owner on behalf of itself, its successors and assigns agrees to indemnify and save
harmless the Township from and against any and all claims, suits, actions and demands
whatsoever which may arise either directly or indirectly by reason of any work or service
performed by the Township, its servants or sub-contractors in order to complete the work or
. services required to be completed under this Agreement, provided the subject matter of such
action, suits, claims or demands was not caused intentionally or through gross negligence on
the part of the Township, its servants or agents or sub-contractors.
IN WITNESS WHEREOF, the Parties hereunto have affixed their respective seals under
the hands of their proper officers duly authorized in that behalf.
)ili~
) Rene DeMartini,
) President
)
)
)
)
)
) The Corporation of the
) Township of Oro-Medonte
) per: f
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) Mayor, Ian BearJ
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SIGNED, SEALED AND DELIVERED
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9
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Jennifer Zieleniewski
. NOTE:
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SCHEDULE "A"
It is understood and agreed that this Schedule forms part of the Site Plan
Agreement between the Township of Oro-Medonte and Modco Investments
Ltd.
LEGAL DESCRIPTION OF LANDS
Firstly:
Secondly:
Thirdly:
Fourthl y:
Fifthly:
.
Part of the road allowance between Concessions 6 and 7, stopped up and closed by
By-law 90-101, registered as Instrument No. 1407495 and part of the west quarter
of Lot 2, Concession 7, Township of Oro-Mcdonte (formerly Township of Oro),
County of Simcoe, designated as Parts 1 and 2, Plan 51R-28724;
Part of the road allowance between Concessions 6 and 7, stopped up and closcd by
By-law 90-101, registered as Instrument No. 1407495 and part of the west quarter
of Lot 2, Concession 7, Township of Oro-Medonte (formerly Township of Oro),
County of Simcoe, designated as Parts 3, 4, 5, 6, 7, 8 and 9, Plan 51R-28724;
Part of the road allowance between Concessions 6 and 7, stopped up and closed by
By-law 90-101, registered as Instrument No. 1407495, part of the west quarter of
Lot 2, Concession 7, and part of the west half of Lot 3, Concession 7, Township of
Oro-Medonte (formerly Township of Oro), County of Simcoe, designated as Parts
10 and 11, Plan 5IR-28724;
Part of the road allowance between Concessions 6 and 7, stopped up and closed by
By-law 90-101, registered as Instrument No. 1407495 and part of the west quarter
of Lot 2, Concession 7, Township of Oro-Medonte (formerly Township of Oro),
County of Simcoe, designated as Part 12, Plan 51R-28724;
Parcel 104-2, Section 5M-368, being part of Block 104, Plan 51 R-368, in the
Township of Oro-Medonte (formerly Township of Oro), County of Simcoe,
designated as Parts 13 and 14, Plan 51R-28724.
10
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SCHEDULE "B"
NOTE:
It is understood and agreed that this Schedule forms part of the Site Plan
Agreement between the Township of Oro-Medonte and Modco Investments
Ltd.
.
SITE PLAN
Site Plan is not in a registerable form and is available from the Township of Oro-Medonte.
Site Plan consists of Drawings G-1; G-2; P-1; P-2; prepared by Urban Ecosystems, dated
J"LL '1- I '1- 1999.
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SCHEDULE "C"
NOTE:
It is understood and agreed that this Schedule forms part of the Site Plan
Agreement between the Township of Oro-Medonte and Modco Investments
Ltd.
.
DEEDS AND EASEMENTS TO BE CONVEYED
All title documents shall be properly drawn and executed by the parties, with the appropriate Lot or
Block Number inserted in the description of the document, and the registered Plan Number shall be
left blank, to be inserted by the solicitors for the parties after the Plan is registered and a Plan
Number assigned.
The consideration for all conveyances shall be the sum of Two dollars ($2.00) and the cost of
preparation, execution and registration thereof, shall be borne by the Owner.
All documents to be registered, shall be prior approved by the Solicitor for the Township.
The following land and easement shall be conveyed:
1.0 LANDS TO BE CONVEYED TO THE TOWNSHIP
2.0 DRAINAGE EASEMENTS TO BE CONVEYED TO THE TOWNSHIP
6.0m Drainage Easement between Part 7, Part 8
.
12
.
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SCHEDULE "D"
NOTE:
It is understood and agreed that this Schedule forms part of the Site Plan
Agreement between the Township of Oro-Medonte and Modco Investments
Ltd.
ITEMIZE ESTIMATE OF COST OF CONSTRUCTION
I.
ITEMIZE CONSTRUCTION ESTIMATE
AMOUNT
Watermains complete with Fire Hydrants,
Valves and Water Services
$56,725.00
Driveway Installation
$ 5,500.00
Engineering and Contingencies
$ 6,422.00
Sub Total
$70,647.00
7% G.S.T.
$ 4,945.00
TOTAL
$75,592.00
2.
LETTERS OF CREDIT
AMOUNT
Letter of Credit to be provided by the Owner
to ensure completion of all works required
under the terms of this Agreement, as noted
in Section 6 herein.
$75,592.00
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SCHEDULE "E"
SITE PLAN AGREEMENT - STANDARD FOR THE TOWNSHIP
"STANDBY" LETTER OF CREDIT
.
IRREVOCABLE LETTER OF CREDIT
DATE OF ISSUE:
NAME OF BANK:
ADDRESS OF BANK:
LEITER OF CREDIT NO.:
AMOUNT: $
Except as otherwise expressly stated, this Letter of Credit is issued subject to the Uniform Customs and Practices for
Documentary Credits (1993 Revision), being ICC Publication No. UCP 500.
TO:
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
P.O. Box 100, Oro Ontario, LOL 2XO
We hereby authorize you to draw on the Bank of
Ontario, ~ for the account of
, up to an aggregate amount of
which is available on demand.
, ($$$$$$$$)
Pursuant to the request of our said customer, , we, the Bank of
, , Ontario, , hereby establish and give to you an
Irrevocable Letter of Credit in your favour, in the above amount, which may be drawn on by you at any time and from
time to time, upon written demand for payment made upon us by you which demand we shall honour without enquiring
whether you have the right as between yourself and our said customer to make such demand and without recognizing
any claim of our said customer or objection by them to payment by us.
Demand shall be by way ofa letter signed by an authorized signing officer of the Corporation of the Township ofOro-
Medonte. The original Letter of Credit must be presented to us at : Bank of
, Ontario, . The Letter of Credit, we understand, relates to a
Site Plan Agreement between our said customer and the Corporation of the Township of Oro-Medonte, with Mortgage
Companv. as a third party, regarding subdivision of
tproperty descnptJon)
The amount of this Letter of Credit may be reduced from time to time, as advised by notice in writing, given to us by an
authorized signing officer of the Corporation of the Township ofOro-Medonte.
Partial drawings shall be permitted. We hereby agree that partial drawings under this Letter of Credit will be duly
honoured upon demand.
This Letter of Credit will continue in force for a period of one year, but shall be subject to the condition hereinafter set
forth. It is a condition of this Letter of Credit that it shall be deemed to be automatically extended without amendment
from year to year, from the present or any future expiration date hereof, unless at least thirty (30) days prior to the
present, or any future expiration date, we notify you in writing by registered mail that we elect not to consider this Letter
of Credit to be renewable for any additional period.
e)ated at
, Ontario, this
day of
19
authorized signature
authorized signature
Bank of
14
-
The Bank of Nova Scotia
2180 Highway No, 7 at Keele Stree:
Concord, Ontario
Canada l4K 1W6
TEl 19051669-4610
Fax 19051669-3800
.
Irrevocable Standby Letter of Credit # S18572/127484
June 29, ! 999
To: The Corporation of the Township
of Oro- Medonte
P.O. Box 100,
Oro, Ontario
LOL 2XO
Applicant:
Modco Investments Ltd.,
15 Hickory Lane,
Cold Water, Ontario,
Canada, LOK I EO
Dear Sirs:
We hereby authorize you to draw on The Bank of Nova Scotia, Ontario
International Trade Services,61 Front Street West,4th Floor,Toronto,
Ontario,Canada M5H IHI for the account of MODCO INVESTMENTS LTD. up
to the aggregate amount of Seventy Five Thousand Five Hundred Ninety Two
Canadian Dollars ($75,592..CAD) which is available on demand.
Pursuant to the request of our customer,MODCO INVESTMENTS LTD., we, The
Bank of Nova Scotia,Ontario International Trade Services,61 Front Street
West,4th Floor, Toronto,Ontario M5H IHI hereby establish and give to you an
Irrevocable Letter of Credit in your favour, in the above amount, which may be
drawn on by you at any time and from time to time, upon written demand for
payment made upon us by you which demand we shall honour without enquiring
whether you have the right as between yourself and our said customer to make
such demand and without recognizing any claim of our said customer or objection
by them to payment by us.
Demand shall be by way of a letter signed by an authorized signing officer of the
Corporation of the Township of Oro-Medonte, the Original Letter of Credit must
be presented to us at the Bank of Nova Scotia,Ontario International Trade
Services, 61 Front Street West,4th Floor, Toronto,Ontario,Canada M5H I HI. The
Letter of Credit, we understand, relates to a site plan agreement between our said
customer and the Corporation of the Township ofOro-Medonte with Mortgage
Company as a Third Party, regarding Subdivision of Plan 51R-28724 Plan of
Survey / Part of Block 104 51 M-368,Part of the west 1/4 of Lot 2/ Part of the
west Vz of Lot 3 Conc. #7.
~
.
.
.
- 2 -
The amount of this Letter of Credit May be reduced from time to time, as advised
by notice in writing, given to us by an authorized signing officer of the
Corporation of the Township of Oro-Medonte.
Partial drawings shall be permitted. We hereby agree that partial drawings under
this Letter of Credit will be duly honoured upon demand.
This Letter of Credit will continue in force for a period of one year, but shall be
subject to the condition hereinafter set forth, It is a condition of this Letter of
Credit that it shall be deemed to be automatically extended without amendment
from year to year, from the present or any future expiration date hereof, unless at
least thirty (30) days prior to the present, or any future expiration date, we notify
you in writing, by Registered Mail, that we elect not to consider this Letter of
Credit renewab]e for any additional period.
Except so far as otherwise expressly stated this credit is subject to the
Uniform Customs & Practice for Documentary Credits (1993 Revision)
International Chamber of Commerce, Publication No. 500.
Dated at Concord, Ontario, this 29th day of June 1999.
Yours Very Truly,
.. ;:;
r;::- ~y;(L
_ ' Authorized Officer
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