89-22
~,
G.
C. Leverton
Clerk
~
~:.¿
A. K. Ford
Warden.
READ a third time and finally passed
this
19th day of
April
1989
READ a second
2. That the Warden and the Clerk, and upon direction of
the Property Committee of Council be, and they are hereby author-
ized to execute under the Seal of the Corporation, the documents
and such other documents required to give effect to By-Law No.
87-28 and to this By-Law and the Sale referred to therein and
herein and such other documents as Counsel for the Corporation
may advise
time
READ a first time this
this
19th day of
19th day of
April
April
1989
1989
1 That the County
provided in Paragraph (a)
of Elgin
(b) and
approves of the amendments
(c) recited herein
as
NOW THEREFO~E the Municipal Council of the Corporation
of the County of Elgin enacts as follows:
(c) That the conveyance of the
Court House Block Inc
subject lands be made
(b) That the County of Elgin accept as a part of the con-
sideration to be paid by the Purchaser, a First Mortgage to
secure the sum of Nine Hundred Thousand ($900,000.00) Dollars,
together with interest thereon at the rate of Eleven percent
(11%) per annum, payable quarterly, which Mortgage shall be for a
term of Twelve (12) months, which Mortgage shall be guaranteed by
the said Thomas Crossman
to The
(a) That the Purchaser be given a credit on the purchase
price of Three Thousand ($3,000.00) Dollars, as a contribution
towards meeting the legal cost incurred by Helen McMillan, a
party to the Court Action hereinbefore referred to
WHEREAS the Purchaser has requested, under the fore-
going circumstances, that an Agreement of Purchase and Sale be
amended to provide for the following:
able delay
WHEREAS the said Court action has resulted
in the completion of the sale; and
in consider-
WHEREAS the title to the said lands have been called
into question and the subject matter has been referred to the
Courts for a final determination; and
WHEREAS By-Law No. 87-28 did authorize
Jail and Court House Block to one Thomas Crossman
and conditions contained in the Offer to Purchase
Counter-Offer, both referred to in the said By-Law
the sale of the
on the terms
and the
No 87-28
and
BEING A BY~LA~J
AND SALE
TO AMEND THE TERMS OFAN~AGREEMENT OF PURCHASE
FOR THE SALE OF THE COURTHOUSE BLOCK."
"
COUNTY OF ELGIN
By-Law No 89-22
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