1997-105 To Authorize the Executon of an Extension Agreement between the Township of Oro-Medonte and Randolph Lawrence Forbes
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THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
BY-LAW NO. 97- 105
Being a By-law to Anthorize the Execntion of an Extension Agreement between the
Township of Oro-Medonte and Randolph Lawrence Forbes
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 of land 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 November 19,
1997, authorized an Extension Agreement with the Owner to extend to December 31, 1997 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 ofland 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 ofthis 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 19'h day of November, 1997.
Read a third time and finally passed this 19'h day of November, 1997.
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
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MAYOR, IAN BEARD
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CLERK, LYNDA AIKEN
EXTENSION AGREEMENT
This Agreement made this 19th day of November, 1997
BETWEEN:
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THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
(the "Municipality")
- and-
RANDOLPH LAWRENCE FORBES
(the "Owner")
WHEREAS the Municipality has by Resolution dated the 19th day of November, 1997,
authorized an Extension Agreement with the Owner to extend to December 31, 1997 the period for
payment of the cancellation price payable in respect of the lands described in Schedule "A" attached
(the "Lands");
NOW THEREFORE the Municipality and Owner agree as follows:
1. The Municipality will extend to December 31, 1997 the period for payment of the
cancellation price payable in respect of the Lands.
2. The Owner will make payments to the Municipality in accordance with Schedule "B"
attached.
3. In addition to paying the amounts payable pursuant to Section 2 herein, the Owner will pay:
(a) as they become due, all real property taxes levied on the Lands that come 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 Section 2
herein, 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 Lands.
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
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taxes that, at the time of entering into this Agreement, are overdue or in arrears in respect of
the Lands 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.
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5.
If the Owner fails to make a payment as required by Section 2 or by subsection 3(a) herein,
within fourteen days following the day that the payment is due, or fails to make the payment
as required by subsection 3(b) herein, the Owner shall be deemed to be in default and on the
day that notice of the default is sent to the Owner by the Municipality whereupon this
Agreement shall cease to be 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 Lands 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.
IN WITNESS WHEREOF the parties have executed this Agreement as at the date first set
out above.
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Witness
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THE CORPORATION OF THE TOWNSHIP OF
ORO-MEDONTE
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Name: Ian Beard
Title: Mayor
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Name: Lynda Aiken
Title: Clerk-
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Randolph Lawrence Forbes
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Schedule "A" to an Extension Agreement between
The Corporation of The Township ofOro-Medonte and Randolph Lawrence Forbes
dated the 19th day of November, 1997
DESCRIPTION OF THE LAND
Part East half Lot 20, Concession 3, Township ofOro, County of Simcoe,
Commencing at the Southeast angle of said Lot 20,
Thence Northerly along the Easterly limit of said Lot, 200 feet to a point,
Thence Westerly parallel to the Southerly limit thereof, 200 feet to a point,
Thence Southerly parallel to the Easterly limit of said Lot, 200 feet more or less to the south limit
of said Lot, 200 feet more or less to the point of commencement.
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Schedule "B" to an Extension Agreement between
The Corporation of The Township of Oro-Medonte and Randolph Lawrence Forbes
dated the 19th day of November, 1997
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PAYMENT SCHEDULE
Date of Payment Balance of Accrued Payment on Total Payment
Due Cancellation Interest account of
Price Cancellation
Price
Opening Balance $45,817.16 xxxx xxxx xxxx
Upon Execution of $45,817.16 xxxx NIL NIL
Agreement
November 28,1997 $45,817.16 NIL $23,000.00 $23,000.00
December 31, 1997 $22,817.16 $285.21 $23,102.37 $46,102.37
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