Title
OFFER TO PURCHASE - YANCH HEATING & AIR CONDITIONING (BARRIE) LTD.
That Council accept and the City Clerk and Mayor be authorized to execute the Agreement of Purchase and Sale from Yanch Heating & Air Conditioning (Barrie) Ltd. for a 1.56 acre parcel of City-owned industrial land described as Parts 7, 8 and 9, Plan 51R-17512, located on the west side of Saunders Road and fronting on Highway 400 in the South Barrie Industrial Park, for the purchase price of $95,000.00 per acre, subject to the following exceptions and additions to the Standard Offer:
a) The Purchaser agrees that it will be responsible for any fees to connect laterals to sanitary sewers, water and hydro.
b) The Purchaser agrees that it is purchasing the property in its present condition "as is". The Purchaser further acknowledges and agrees that it has conducted such tests as it deems necessary to determine to its satisfaction, that the soil conditions for the property are satisfactory to support the development and construction of the building and other structures contemplated for its proposed use of the property.
c) The Purchaser acknowledges that acceptance of this offer, including all amendments, is conditional upon the approval of City Council and that the execution of this offer by the Director of Economic Development in no way binds the Corporation.
d) The Purchaser acknowledges that this transaction is subject to GST and such tax shall be paid in addition to the purchase price. Notwithstanding this, no goods and services tax will be paid by the Purchaser on closing provided that the Purchaser is a GST registrant and provides its registration number prior to closing. The parties will instruct their respective solicitors to enter into a document registration agreement in the form approved by the Law Society of Upper Canada on closing.
e) The Vendor agrees to the removal of Paragraph 22 as the Purchaser acknowledges that the property is subject to Site Plan Control....
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