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By-law No. 2007-075 THE CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 2007-075 A BY-LAW TO AUTHORIZE THE DISCHARGE OF AN AGREEMENT BETWEEN THE MUNICIPALITY OF BAYHAM AND 2079071 ONTARIO INC. REGARDING A FACADE IMPROVEMENT LOAN WHEREAS the Corporation of the Municipality of Bayham did by By-law 2006-069 authorize the execution of a facade improvement loan agreement between the Corporation of the Municipality of Bayham and 2079071 Ontario Inc. AND WHEREAS the façade improvement loan agreement was registered by the Municipality of Bayham in the Land Registry Office for the Registry Division of Elgin No. 11 on April 19, 2007 as Instrument No. 0460187; AND WHEREAS no funds have been transferred to or are owed by 2079071 Ontario Inc. to the Municipality of Bayham; AND WHEREAS 2079071 Ontario Inc. representative C. Valerie Donnell has requested that the Municipality of Bayham execute a Discharge of the facade improvement loan agreement; THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF BAYHAM ENACTS AS FOLLOWS: 1. THAT the Loan under the Municipality of Bayham Facade Improvement Program to 2079071 Ontario Inc. registered at the Land Registry Office for the Registry Division of Elgin No. 11 in St. Thomas as Instrument No. 0460187 on April 19, 2007 be and the same is hereby discharged; 2. THAT the Clerk be authorized to execute a certificate of discharge; 3. THAT this By-law shall take effect upon the date of its passing; 4. AND THAT this By-law shall be registered in the Land Registry Office for the Registry Division of Elgin No. 11. READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED THIS 19th DAY OF JULY 2007. lia /1 , \I C ERK Province Document General Do Process Software Ltd. • (416}322-6111 D Ontario Form 4—Land Re.Estretlort Reform Act (1)Registry❑X Land Titles O. (2) Page 1 of 5 pages (3)Idem fier(s} Block Property Additional: See ❑ Schedule r-- ._ Cs (4)Nature of Document • AGREEMENT t:7 r _ (5)Consideration J CO - Z C C) . Y 0 c") Dollars$ N — 1- i (6)Description w C D Part of Lot 22, on the West Side of Robinson Street, Li wPlan 12, ¢ r•-•• formerly Village of Port Burwell, o Municipality of Bayham,County of Elgin; more particularly described on page 2 attached herewith. New Property Identifiers Additional: See El Executions (7) This (a)Redescription (b)Schedule for. Additional: Document New Easement ,__, Additional See Contains: Schedule III Plan/Sketch Description © Parties ❑ Other❑X (8)This Document provides as follows: FACADE IMPROVEMENT LOAN AGREEMENT between 2079071 ONTARIO INC.and THE CORPORATION OF THE MUNICIPALITY OF BAYHAM. ��} Continued on Schedule ((9)This Document relates to instrument number(s) (10)Party(ies)(Set out Status or Interest) Name(s) Signature• Date of Signature Y M D THE CORPORATION OF THE MUNICIPALITY OF BAYHAM p BY ITS SOLICITORS,GIBSON,LINTON,x TOTH, per: 2007 04 O CAMPBELL&BENNETT SCOTT K.CAMPBELL (11) Add1 Service P.O.Box 160,Straffordville,Ontario,NOJ 1Y0 J (12)Party(ies)(Set out Status or Interest) Name(s) Signature(s) Date of Signature Y M D (13) Address ,,,_ for Service 114)Municipal Address of Property (15)Document Prepared by: ii Fees and Tax p Registration Fee w 41 Robinson Street Gibson,Linton,Toth,Campbell& w Port Burwell,Ontario Bennett w o NOJ 1TO 36 Broadway,Box 5 R Tillsonburg,Ontario ce N4G 4113 O Total l Document prepared using Fimm'1'W,re LandForms 3 THIS AGREEMENT made this/3 day of ..a4t ,2006. BETWEEN: T! 2079071 ONTARIO INC. hereinafter called the"Owner" OF THE FIRST PART and THE CORPORATION OF THE MUNICIPALITY OF BAYHAM hereinafter called the"Municipality" OF THE SECOND PART WHEREAS the Owner is the owner in fee simple of the lands municipally known as 41 Robinson Street,in the Municipality of Bayham,in the County of Elgin(hereinafter called"the said lands"), more particularly described in Box (6) of the Document Generalte-beamed AND WHEREAS Section 28(7) of the Planning Act, R.S.O. 1990, Chapter P.13 authorizes municipalities to make loans to owners of lands and buildings with a Community Improvement Project Area to pay for the whole or any part of the cost of rehabilitating such lands and buildings in conformity with a Community Improvement Plan. AND WHEREAS the Municipality has approved a Facade Improvement Loan as part of a Community Improvement Plan within an area of Bayham which includes the said lands. AND WHEREAS the Owner has applied to the Municipality for a facade improvement loan to renovate and improve certain parts of the building on the said lands in accordance with plans submitted to the Municipality in support of such application,which plans are hereinafter called "the said plans". AND WHEREAS the Municipality has agreed to advance a loan to the Owner to carry out such improvements on certain terms and conditions. WITNESSETH that,in consideration for the advance of the said loan and as a condition of such loan,the parties hereto covenant and agree one with the other as follows: 1. The Municipality shall advance to the Owner on the date of registration of this Agreement(hereinafter called"the commencement of the term")and after completion of construction, the sum of$1,750.00 (hereinafter called"the principal amount")as a facade improvement loan for the said lands. 2. So long as the Owner is not in default hereunder, such principal amount shall be repayable plus interest, in accordance with the repayment schedule affixed hereto as Schedule "A", by additions to the tax roll, for a term of ten (10) years, annually, beginning 2007,and repayable in full at anytime without notice or bonus or penalty of any kind. 3. Notwithstanding the provisions of paragraph 2 above, the principal amount, or the balance thereof remaining outstanding, shall, at the option of the Municipality, immediately become due for payment in full on the happening of any one of the following: (a) the Owner shall be more than 3 months in arrears with respect to any payment of realty taxes, business taxes, or Business Improvement Area levy for all or any part of the said lands, (b) the Owner shall,at any time,discontinue,remove or fail to maintain any part of the improvements shown on the said plans, (c) the Owner shall default in payment of any of the installments required under paragraph 2 above,or, (d) the Owner shall sell or transfer the said lands, or any part thereof, to a new owner. 4. The Owner hereby agrees to complete and maintain the said facade improvements in accordance with the said plans, which obligation shall continue until the principal amount and any interest owing thereon is paid in full. 5. The Owner hereby charges the said lands with the obligation of repayment of the said loan in accordance with the terms and conditions herein. 6. This Agreement shall,on the date of the commencement of the term,be registered on title to the said lands as provided for by Sections 28(8)and 32(3)of the Planning Act as a first encumbrance prior to any mortgage or lien. 7. The execution of this Agreement by the Municipality shall constitute the certificate provided for in Section 32(3)of the Planning Act with respect to the advance and terms and conditions of such loan. 8. The Document General and Agreement shall be prepared and registered by the Municipality and the Owner shall be responsible for the costs thereof,payable at the date of the commencement of the term. 9. This Agreement shall enure to and be binding on the successors, assigns and legal representatives of the Owner and of the Town. IN WITNESS WHEREOF the respective parties have executed this Agreement as of the date first above written. Dated at Bayham this!tday of C�, _,2006. 2079071 ONTARIO INC.(OWNER) Per: &&44261De401.-/,- I have authority to bind the Corporation C. Valerie Donnell THE CORPORATION OF THE MUNICIPALITY OF BAYHAM Ma),(X ynn Acre Clerk k` ynda Mil ar Province c h ed u I e Do Process Software Ltd. • (416)322-6111 s01 Ontario Form 5—Land Registration Reform Act Page 2 Addielonal property iderlfliientskiAdfar dllhrr knlarrtrtlan Legal Description: Part of Lot 22,on the West Side of Robinson Street,Plan 12,formerly Village of Port 13urwell, Municipality of Bayharn,County of Elgin;more particularly described as follows: COMMENCING at the South-east angle of said Lot 22; THNCE Northerly along the easterly boundary of said Lot 22,24'6"to a point; THENCE Westerly parallel to the southerly boundary of said Lot 22, 100'to The Canadian Pacific Railway right of way;as described in Instrument No. 14104 and 14507; THENCE in a Southerly direction along the said right of way,24'6"more or less to the southerly limit of said Lot 22; THENCE in a Easterly direction along the southern boundary of said Lot 22, 100'more or less to the place of beginning. AS IN Instrument No.0449976. o° OD �D r 1111 J Document prepared using Fom,L Wa+e LandFo ms 5- SCHEDULE "A" TOWNSHIP OF BAYHAM DEBENTURE SCHEDULE Valerie Donnell Debenture Amount $ 1,750.00 Interest Rate 2.00% Term in Years 10 Payment Amount $ 500.00 Total Payout $ 5,000.00 BEGIN ENDING YEAR BALANCE PRINCIPAL INTEREST PAYMENT BALANCE 2007 1,750.00 500.00 500.00 1,250.00 2008 1,250.00 475.00 25.00 500.00 775.00 2009 775.00 484.50 15.50 500.00 290.50 2010 290.50 290.50 5.81 296.31 - 2011 - 2012 - 2013 - 2014 - 2015 - 2016 - 1,750.00 46.31 1,796.31 excelldrainslharbour shoppe loan 2006.x]s ,-tO# 11 Application(General) Receipted as CT16378 on 2007 08 03 at 13:08 The applicant(s) hereby applies to the Land Registrar. yyyy mm dd Page 1 of 2 Properties PIN 35323 - 0120 LT Description PT LT 22 WIS ROBINSON ST PL 12 BAYHAM AS IN E386018; BAYHAM Address 00041 ROBINSON BAYHAM Applicant(s) Name THE CORPORATION OF THE MUNICIPALITY OF BAYHAM Address for Service P.O. Box 160 Straffordville,Ontario NOJ 1Y0 1, Lynn Acre, Mayor,and Lynda Millard,Clerk, have the authority to bind the corporation. This document is not authorized under Power of Attorney by this party. Statements 1 Schedule: See Schedules This document relates to registration no.(s)460187 Signed By Scott Keith Campbell 36 Broadway, Box 5 acting for Signed 2007 08 03 Tillsonburg Applicant(s) N4G 4H3 Tel 519-842-3658 Fax 5198425001 Submitted By GIBSON, LINTON,TOTH, CAMPBELL&BENNETT 36 Broadway, Box 5 2007 08 03 Tillsonburg N4G 4H3 Tel 519-842-3658 Fax 5198425001 Fees/Taxes/Payment Statutory Registration Fee $60.00 Total Paid $60.00 File Number Applicant Client File Number: BAYHAM-003 THE CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO.2007-075 . A BY-LAW TO AUTHORIZE THE DISCHARGE OF AN AGREEMENT BETWEEN THE MUNICIPALITY OF BAYHAM AND 2079071 ONTARIO INC. REGARDING A FACADE IMPROVEMENT LOAN WHEREAS the Corporation of the Municipality of Bayham did by By-law 2006-069 authorize the execution of a façade improvement loan agreement between the Corporation of the Municipality of Bayham and 2079071 Ontario Inc. AND WHEREAS the façade improvement loan agreement was registered by the Municipality of Bayham in the Land Registry Office for the Registry Division of Elgin No. 11 on April 19, 2007 as Instrument No. 0460187; AND WHEREAS no funds have been transferred to or are owed by 2079071 Ontario Inc. to the• Municipality of Bayham; AND WHEREAS 2079071 Ontario Inc. representative C.Valerie Donnell has requested that the Municipality of Bayham execute a Discharge of the façade improvement loan agreement; • THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF BAYHAM ENACTS AS FOLLOWS: 1. THAT the Loan under the Municipality of Bayham Façade Improvement Program td 2079071 Ontario Inc. registered at the Land Registry Office for the Registry Division of Elgin No. 11 in St. Thomas as Instrument No. 0460187 on April 19, 2007 be and the same is hereby discharged; 2. THAT the Clerk be authorized to execute a certificate of discharge; • 3. THAT this By-law shall take effect upon the date of its passing; 4. AND THAT this By-law shall be registered in the Land Registry Office for the Registry Division of Elgin No. 11. READ A FIRST,SECOND AND THIRD TIME AND FINALLY PASSED THIS 19th DAY OF JULY 2007. in MAI 1 (Lynn Acre) CLERK (Lynda Mi 33ard)