2899-91AgreementLandAcquisition - Laserfiche WebLink

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· , ~, OFFER TO SELL /~/g~ PLEASANT PARK FARMS INC. (the Vendor) does hereby offer to sell to THE CORPORATION OF THE COUNTY OF ESSEX (the Purchaser) the lands described in SCHEDULE "A" attached hereto (the property) for a purchase price of THREE HUNDRED AND FIFTY THOUSAND DOLLARS ($350,000.000) of lawful money of Canada upon the following terms and conditions: 1. The closing of the transaction shall take place on the 1st day of March 1991 at which time the Puchaser shall deliver to the Vendor a certified cheque in the amount of $310,000.00 which shall represent the purchase price of THREE HUNDRED AND FIFTY THOUSAND DOLLARS (~350,000.00) less the deposit of FORTY THOUSAND DOLLARS ($40,000.00) which shall be payable to the Vendor forthwith upon acceptance of this offer and which shall be held by the Vendor in trust pending completion or other termination of any agreement arising from this Offer to Sell. 2. The purchaser shall be allowed until the 25th day of February, 1991 to examine the title to the property and to satisfy itself that the title of the Vendor is good and free of any and all encumbrances whatsoever other than for a mortgage in favour of C.I.B.C. which the Vendor's solicitor shall undertake to discharge out of the closing funds which the purchaser agrees to accept. 3. The Vendor shall have the right following the closing of the transaction to continue to farm rent free all the property save and except a ONE HUNDRED (100) meter strip of land in perpend- icular width throughout from east to west measured from the northerly boundary of the land comprising the Maidstone Landfill which right shall be non-assignable and shall have a term of FIVE (5) years commencing on the 1st day of March, 1991 and the lease which evidences such right shall contain a provision which will allow the Vendor to terminate the lease upon the giving of SIX (6) months written notice to be effective at the end of the then crop year. 4. During the term of the lease provided for in paragraph THREE (3) hereof, the Vendor shall have the first option to farm rent free, on a season to season basis, the lands comprising the ONE HUNDRED (100) meter strip referred to in paragraph THREE (3) hereof and shall automatically have exercised such right by continuing to farm the said lands referred to in paragraph THREE (3) hereof unless the Vendor notifies the Purchaser in writing that it no longer desires to farm the said ONE HUNDRED (100) meter strip in which case its privilege to do so shall expire at the end of the then crop year. The right to farm this strip shall be subject to the Purchaser's right to maintain thereon its various excavations and other installations necessary for the ongoing maintenance and operation of the landfill. 5. Time shall in all respects be of the essence hereof and reference to the closing date shall mean on or before TWO (2) o'clock in the afternoon on such date.