1998-021 To Authorize the Execution of an Extension Agreement between the Township of Oro-Medonte and Bryce and Debra Laurier
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
BY-LAW NO. 98- 21
.
Being a By-law to Authorize the Execution of an Extensiou Agreement between the
Township of Oro-Medonte and Bryce and Debra Laurier
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 terms
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 forming 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
fcL- /j;a<,~"j
MAYOR, IAN BEARD
4 /
Lc;~ .~ Ii /
/{,u""dY:~""4,,,'(~~m /;l4"/~--__
CLERK, LYNDA AIKEN
.
4
.
.,
This Agreement made this
day of
,1998
BETWEEN
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
(the Municipality)
- and-
BRYCE ALAN LAURIER AND DEBRA ANN LAURIER
(the Owner)
EXTENSION AGREEMENT
WHEREAS the Municipality desires to enter into an Extension Agreement with the Owner to
extend to June 30, ] 998 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:
I. The Municipality will extend to June 30, ]998, 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 term 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 ofthc 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 thc 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 of the 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 terminates when the cancellation
price is so paid.
4
.
f
.'
8. Notice to the Owner under this Agreement is sufficiently given if sent by registered post
to the Owner at the following address:
5 Colborne Street
Barrie, Ontario
L4M 4S1
IN WITNESS the Parties have set their hands and seals.
SIGNED, SEALED AND DELIVERED
in the presence of
)
)
)
)
)BRYCE ALAN LAURIER
)
)
)
) DEBRA ANN LAURIER
)
Witness as to the signature
of Bryce Alan Laurier
Witness as to the signature
of Debra Ann Laurier
THE CORPORATION OF THE TOWNSHIP O:F ORO-MEDONTE
MAYOR
CLERK
Cancellation price - means an amount equal to all the tax an-ears owing at any time in respect of land together with al1 current real
propc1iy taxes owing, interest and penalties thereon and aJ! reasonable costs incuITed 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 sUlvey where such is required to register any document under this Act, and
a reasonable a!1owancc for costs that may be incUlTed 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 TOWNSHIP OF ORO-MEDONTE
-and-
BRYCE ALAN LAURIER AND DEBRA ANN LAURIER
DESCRIPTION OF THE LAND
Part of Block X, Plan 918
Township of Oro-Medonte
County of Simcoe
as previously described in Instrument Number 1251371
Municipal Address: 5 Colborne Street, Barrie, Ontario L4M 4S I
.
.
.
SCHEDULE "B"
to EXTENSION AGREEMENT
BETWEEN
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
-and-
BRYCE ALAN LAURIER AND DEBRA ANN LAURIER
DATE OF BALANCE OF ACCRUED PAYMENT OF TOTAL
PAYMENT DUE CANCELLATION INTEREST CANCELLATION PAYMENT
PRICE PRICE
OPENING 8360,78
BALANCE
l. UPON 8360.78 4000.00 4000.00
EXECUTION OF
AGREEMENT
2. February 28, 1998 4360.78 37.68 1000,00 5000.00
3, March 31,1998 3398.46 32.63 1000.00 6000.00
4. April 30, 1998 2431.09 24.83 1000.00 7000,00
5. May 31,1998 1455,92 12,64 1000.00 8000.00
6. June 30, 1998 468.56 .29 468.85 8468.85