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BYLAW - Execution of a Tax Arrears Extension Agreement - 19980513 - 394698FTHE CORPORATION OF THE TOWN OF AURORA By-law Number 3946-98.F BEING A BY-LAW to authorize the execution of a tax arrears extension agreement. WHEREAS Section 8 of the Municipal Tax Sales Act, R.S.O. 1990, Chap. M.60, as amended authorizes the Council of a local municipality to execute a tax arrears extension agreement; AND WHEREAS Section 8 of the Municipal Tax Sales Act, R.S.O. 1990, Chap. M.60, as amended provides that the Council of a local municipality may by by-law authorize an agreement with the owner of such land to extend the period of time in which the cancellation price payable on the land is to be paid; AND WHEREAS the Municipal Council of the Corporation of the Town of Aurora has registered on the 22nd day of May, 1997, a Tax Arrears Certificate against the land described in Schedule "A" attached hereto and forming part of this by-law; AND WHEREAS the Municipal Council of the Corporation of the Town of Aurora deems it necessary and expedient to enter into a Tax Arrears Extension Agreement with Dical Investments Ltd; NOW THEREFORE THE MUNICIPAL COUNCIL OF THE CORPORATION OF THE TOWN OF AURORA ENACTS AS FOLLOWS: 1. THAT the Mayor and Clerk be authorized to enter into an agreement on behalf of the Corporation with Dical Investments Ltd., the owner (or spouse of the owner) of the land described in Schedule "A" to extend the time period in which the cancellation price payable on this land is to be paid beyond May 22, 1998. 2. THAT said Agreement be in substantially the same form and contain the same terms and conditions as set out in Schedule "B" attached hereto and forming part of this by-law. 3. THAT the provisions of this By-law shall come into force and take effect upon third reading thereof. READ A FIRST AND SECOND TIME THIS 13'" DAY OF MAY, I998. READ A THIRD TIME AND FINALLY PASSED THIS I3'" DAY OF MAY, I998. L. ALLISON, MUNICIPAL CLERK 98/05/26 FOR FILE: THE ORIGINAL BY-LAW IS FILED IN THE 1998 BY-LAW BINDER IN THE VAULT THE ORIGINAL AGREEMENT IS FILED UNDER LOI GE 98 IN THE VAULT 'I SCHEDULE "A" Description of the Land: The Remainder of Parcel7-1, Section 65M-2725 Being Part of Lot 7 on Plan 65M-2725 Designated as Parts 1 and 2 On Reference Plan 65R-14839 Town of Aurora Regional Municipality of York (No. 65) Tax Roll Number: 1946 000 095 80112 0000 Our File Number: 97-11 ., THIS AGREEMENT made in triplicate the 13th day of May, A.D., 1998, BETWEEN: THE CORPORATION OF THE TOWN OF AURORA Hereinafter called the "Corporation" -and- DICAL INVESTMENTS UMITED Hereinafter called the "Owner" '• WHEREAS the Owner is the owner of the land in the Town of Aurora described in Schedule "A" attached hereto and forming part of this Agreement. AND WHEREAS the Owner's land is in arrears of taxes on the 31st day of December, 1996 in the amount of $20,758.78 and a tax arrears certificate was registered in the Registry (or Land Titles) Office on the 22"d day of May 1997 in respect of the Owner's land. AND WHEREAS under section 8 of the Municipal Tax Sales Act, 1984, S.O. 1984, c. 48, a municipality may by by-law, authorize an extension agreement be entered into by the Corporation with an Owner to extend the period of time in which the cancellation price in respect to the Owner's land is to be paid. NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the premises and of the covenants and obligations hereinafter contained, it is hereby agreed as follows: 1. The owner agrees to pay the Corporation the sum of Two Thousand ($2,000.00) dollars monthly, payable on the 15th day of each and every month commencing on the 15th day of June, 1998, to and including the 15th day of July, 1999. The final payment must also include any further balance of taxes, interest and costs due. - 1 - 2. In addition to paying the amounts provided for in Clause 1, the Owner agrees to pay all 1998 taxes plus penalties levied on the land, by September 30, 1998 and all 1999 taxes levied on the land as they come due. 3. Notwithstanding any of the provisions of this Agreement, the Municipal Act, R.S.O. 1980, c. 302, as amended, shall continue to apply to the collection and enforcement of all tax arrears and all taxes except that the treasurer and the collector of taxes of the Corporation, without waiving the statutory rights and powers of the municipality or of the treasurer, shall not enforce collections of such tax payments, except as set out in clauses 1 and 2, during the time this Agreement is in force so long as the Owner is not in default hereunder. 4. In the event the Owner defaults in any payments required by the Agreement, this Agreement upon notice being given to the Owner by the Corporation, shall be terminated and the Owner shall be placed in the position he or she was before this Agreement was entered into. In the event of a default, this Agreement shall cease to be considered a subsisting agreement on the day that the notice of termination is sent to the Owner. 5. Immediately upon the Owner making all the payments required under paragraphs 1 and 2, this Agreement shall be terminated and, the Treasurer shall forthwith register a tax arrears cancellation certificate in respect of the said lands. 6. Nothwithstanding the provisions of paragraphs 1 and 2, the Owner and any other person may at any time pay the balance of the cancellation price and upon receipt of the aforesaid payment by the Corporation, this Agreement shall terminate and the treasurer shall forthwith register a tax arrears cancellation certificate. 7. This Agreement shall extend to and be binding upon and ensure to the benefit of the Parties and to their respective heirs, successors and assigns. 8. If any paragraph or part of paragraphs in this Agreement be illegal or unenforceable, it or they shall be considered separate and severable from the Agreement and the remaining provisions of the Agreement shall remain in force and effect and shall be binding upon the Parties hereto as though the said paragraph or paragraphs or part or parts of paragraphs had never been included. - 2 - 'I ~~- 9. Any notice required to be given to the Owner hereunder shall be sufficiently given if sent by registered post to the Owner at the following address: Dical Investments Limited c/o Guy Diblasi 1769 Danforth Avenue Toronto, Ontario M4C lJl IN WITNESS WHEREOF the owner has hereunto set his hand and seal and the Corporation has caused its Corporate Seal to be hereunder affixed, attested by its proper officers. SIGNED, SEALED AND DELIVERED IN THE PRESENCE'S OF Witness Witness ~z:zca .. ·~· Witness (-J / - 3 - SCHEDULE "A" Description of the Land: The Remainder of Parcel 7-1, Section 65M-2725 Being Part of Lot 7 on Plan 65M-2725 Designated as Parts 1 and 2 On Reference Plan 65R-14839 Town of Aurora Regional Municipality of York (No. 65) Tax Roll Number: 1946 000 095 80112 0000 Our File Number: 97-11 -4- 'I