1998-023 To Authorize the Execution of an Extension Agreement between the Township of Oro-Medonte and Terrance and Marie Hosford
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
BY-LAW NO. 98- 23
.
Being a By-law to Authorize the Execution of an Extensiou Agreement between the
Township of Oro-Medonte and Terrance and Marie Hosford
WHEREAS the Municipal Tax Sales Act, Chapter M,60, Section 8 provides that a municipality
may by by-law authorize an Extension Agreement with the owner ofland extending the period of
time in which the cancellation price is to be paid and the agreement may be subject to such tenns
and conditions relating to payment as are set out in it;
AND WHEREAS Council of the Township ofOro-Medonte by resolution on February 25,1998
authorized an Extension Agreement with the Owner to extend to June 30, 1998 the payment
period for the cancellation price payable in respect of the land;
AND WHEREAS the Corporation of the Township of Oro-Medonte is desirous of entering into
such extension agreement with the owner of land and being described in Schedule "A" attached;
NOW THEREFORE the Council of The Corporation of the Township ofOro-Medonte hereby
enacts as follows:
1, The Mayor and Clerk are hereby authorized to execute an extension agreement attached
hereto and fonning part of this By-law;
2, That this by-law shall come into full force and take effect on it's final passing thereof.
Read a first and second time this 4th day of March, 1998.
Read a third time and finally passed this 4th day of March, 1998.
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
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MAYOR, IAN BEARD
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CLERK, LYNDA AIKEN
.
This Agreement made this
day of
,1998
BETWEEN
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
(the Municipality)
- and-
.
TERRANCE HOSFORD and MARIE MADELINE HOSFORD
(the Owner)
EXTENSION AGREEMENT
WHEREAS the Municipality desires to enter into an Extension Agreement with
the Owner to extend to June 30, 1998 the payment period for the cancellation
price payable in respect of the Land described in Schedule "A" attached (the
Land);
NOW THEREFORE the Municipality and Owner agree as follows:
1. The Municipality will extend to June 30, 1998, the payment period for the
cancellation price payable in respect of the land,
2, The Owner will make payments to the Municipality in accordance with
Schedule "B" attached,
3, In addition to paying the amounts provided for in paragraph 2, the Owner
will pay:
(a) as they become due, all real property taxes levied on the land that
became due and payable during the tenn of this Agreement; and
(b) not later than 30 days following the due date of the last payment
under paragraph 2, such additional amount, if any, as is necessary to bring
the total amount paid under this Agreement up to the amount of the
cancellation price payable in respect of the Land,
4, As long as this Agreement is a subsisting Agreement, the Municipality and
its officers will not, except as otherwise provided in this Agreement, enforce
the collection of real property taxes that, at the time of entering into this
Agreement, are overdue or in arrears in respect of the Land but compliance
with this provision does not constitute a waiver of the rights of the
Municipality or its officers to enforce collection of such taxes in the future
if the Owner is in default under this Agreement.
.
5. If the Owner fails to make a payment as required by paragraph 2 or by
clause (a) of paragraph 3 within fourteen days following the day that the
payment is due, or fails to make the payment as required by clause (b) of
paragraph 3, the Owner is in default and on the day that notice of the default
is sent to the Owner by the Municipality in accordance with paragraph 8,
this Agreement shall cease to be considered a subsisting Agreement.
6, This Agreement shall cease to be considered a subsisting Agreement upon
the date of the sale or other disposition ofthe Land by the Owner.
7, Notwithstanding paragraphs 2 and 3, the Owner or any other person may
pay the cancellation price at any time and this Agreement tenninates when
the cancellation price is so paid,
8, Notice to the Owner under this Agreement is sufficiently given if sent by
registered post to the Owner at the following address:
.
R.R. #2
Orillia, Ontario
L3V 6H2
IN WITNESS the Parties have set their hands and seals,
SIGNED, SEALED AND DELIVERED
in the presence of
)
)
)
)
)Terrance Hosford
)
)
)
)Marie Madeline Hosford
)
Witness as to the signature
of Terrance Hosford
Witness as to the signature
of Marie Madeline Hosford
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
MAYOR
CLERK
Cancellation price ~ means an amount equal to all the tax arrears owing at any time in respect of land together with all
current real property taxes owing, interest and pena.1ties thereon and aU reasonable costs incurred by the municipality,
after the Treasurer becomes entitled to register a tax arrears certificate under section 3, in proceeding under this Act or in
contemplation of proceeding under this Act, and without restricting the generality of the foregoing, may include, legal
fees and disbursements, the costs of preparing an extension agreement entered into under section 8, the costs of preparing
a survey where such is required to register any document under this Act, and a reasonable allowance for costs that may be
incurred subsequent to advertising under section 9. Municipal Tax Sales Act, R.S.O. 1990, c. M.60
.
SCHEDULE "A"
.
to EXTENSION AGREEMENT
BETWEEN
THE CORPORATION OF THE TOWNSIDP OF ORO-MEDONTE
-and-
TERRANCE HOSFORD and MARIE MADELINE HOSFORD
DESCRIPTION OF THE LAND
Lot 10, Plan 1310
Township of Oro-Medonte
County of Simcoe
Municipal Address: R.R. #2, Orillia, Ontario, L3V 6H2
.
.
.
SCHEDULE "B"
to EXTENSION AGREEMENT
BETWEEN
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
-and-
TERRANCE HOSFORD and MARIE MADELINE HOSFORD
DATE OF BALANCE OF ACCRUED PAYMENT OF TOTAL
PAYMENT DUE CANCELLATION INTEREST CANCELLATION PAYMENT
PRICE PRICE
OPENING $9674.87
- - -
BALANCE
l. UPON 9674,87 1000.00 1000,00
-
EXECUTION OF
AGREEMENT
2, February 28, 1998 8674,87 81.32 1000.00 2000.00
3, >>March 31, 1998 7756,19 86,61 2000,00 4000,00
4, April 30, 1998 5842,80 67.47 2000,00 6000,00
5, May 31, 1998 3910,27 43,32 2000,00 8000,00
6. June 30, 1998 1953,59 18,86 1972.45 9972.45