COVENANTS, RESTRICTIONS AND RIGHT OF REPURCHASE

1A. If hydro electric, telephone services or other public utilities are installed, the Transferee shall provide, grant and transfer to any public utility without compensation any and all easements which may be required for such installation, whether such installation is required to service the Transferee's lands or any other land in Brechin Industrial Park so long as such easements are located within front, side or rear limit setbacks as required by any municipal or other governmental authority and will also pay the cost of such installation but only to the extent that it is required to service the Transferee's land and no other.

1B. In the event of breach of any of the stipulations, restrictions and provisions in the covenants hereinafter set forth, the Transferor may, at its option, perform or cause to be performed each and every one of the said stipulations, restrictions and provisions and, in the event of its so doing, all payments, expenses, charges, fees and/or disbursements made by the Transferor in respect thereof, shall be and remain a charge against the lands herein until paid by the Transferee together with interest at the rate of 10% per annum thereon.

1C. The reference herein to "Brechin Industrial Park" is to those lands comprising all of Part 1 on Reference Plan 51 R-14632 in the Township of Ramara.

2A. It will be the responsibility of the Transferor of the said lands to arrange for and pay the cost of service connections from the main water lines in Brechin Industrial Park to the property line of the said lands. It shall be the responsibility of the Transferee to arrange for and pay the cost of installation of water lines from the property line across the property to any building or buildings erected thereon.

2B. Entrance Culverts - it will be the responsibility of the Transferee to make application to the Municipality for an entrance permit and to provide a culvert as required by the Township's policy at the site of the proposed entrance. In the event the property fronts onto a County Road, the Transferee is responsible for the application to the County of Simcoe and all associated costs. The Municipality will set the culvert and provide one load of granular material to hold the culvert in place. The balance of any driveway works will be the responsibility of the Transferee.

3. Notwithstanding anything hereinafter contained, until such time as the Transferee shall bona fide commence construction of a building on the said lands, or for a period not longer than twenty (20) years from the date of this deed, whichever shall first occur, the Transferee shall not sell or otherwise dispose of or agree to sell or dispose of the said lands or any part thereof except by acceptance of a bona fide offer or offers in writing which the Transferee is ready and willing to accept and until after ten (10) days from the receipt of notice in writing from the Transferee to the Transferor, his successors or assigns, setting out the terms of such offer including the name of the Transferee. The Transferor, its successors or assigns, shall have the irrevocable option during the said period often (10) days to purchase the said land to which such offer relates as follows:

i) in the case of an offer to purchase all of the said lands at the price paid by the Transferee to the Transferor therefore, plus any taxes and local improvement rates paid thereon by the Transferee and less any amount paid or payable by the Transferor as real estate commission and less any purchase price legal fees incurred by the Transferor, with respect to the sale by the Transferor to the Transferee;

ii) in the case of an offer to purchase part of the said lands, that portion of the price paid by the Transferee to the Transferor for the said lands, plus any taxes and local improvement rates paid thereon by the Transferee and less any amount paid or payable by the Transferor as real estate commission and less any purchase price legal fees incurred by the Transferor, with respect to the sale by the Transferor to the Transferee, as the area of such part of the said lands to which such offer relates bears to the total area of the said lands.

4. Notwithstanding anything hereinbefore contained if, for any reason, the Transferee or the heirs, executors, administrators, successors or assigns of the Transferee does or does not bona fide commence and diligently continue with the construction in accordance with good building practice of a building on the said lands within one (1) year of the completion of the purchase of the said lands by the Transferee and unless within two (2) years from the date of completion of the purchase of the said lands, the Transferee has completed the construction aforesaid, then, and in any of such events, the Transferor, its successors or assigns shall have the option to repurchase the said lands in their then condition at the price paid by the Transferee to the Transferor, its successors or assigns and less any amount paid or payable by the Transferor as real estate commission, and less any purchase price legal fees incurred by the Transferor, with respect to the sale of the said lands to the Transferee, and any amount of taxes then accruing against the said lands. There shall be no allowance to the transferee for monies spent on or improvements made to the said lands.

5. Any notice with respect to the aforementioned options, if given by the Transferee to the Transferor, shall be sufficiently given if mailed by registered, prepaid post in Ontario addressed to the Transferor at: Municipality Office, Township of Ramara, Brechin, Ontario L0K 1B0, and any such notice, if given by the Transferor, its successors or assigns to the Transferee, shall be sufficiently given if mailed as aforesaid addressed to the Transferee at: Any such notice mailed as aforesaid shall be deemed to have been given on the next business day following the day on which such notice is mailed as aforesaid. Either party may at any time give notice to the other of any change of address of the party giving such notice and from and after the giving of such notice the address therein specified shall be deemed to be the address of such party for the giving of notices thereafter.

6. In the event the Transferor exercises any of the options aforementioned, upon payment by the Transferor to the Transferee of the balance of the price due as aforementioned, the Transferee will release and reconvey to the Transferor the said lands, free and clear of all encumbrances. The sale back to the Transferor by the Transferee shall be completed within two (2) months from the giving of the notice as hereinbefore provided.

7. The Transferee shall be responsible for any damage caused to the Transferor's lands abutting the real property whenever such damage is solely caused by the Transferee, its agents, servants, employees, or independent contractors and, without limiting the generality of the foregoing, the Transferee shall be responsible for the replacement or repair of any water boxes, hydrants, valves, manholes, catch basins, curbs, sidewalks, roads and/or loss of surveyor's stakes or engineering stakes, which are so damaged.

8. To the intent that the burden of the following covenants shall run with and bind the lands hereinbefore conveyed and every part thereof (hereinafter called the "said lands") for a period of forty (40) years from July 1, 1987 and to the intent that the benefit of this covenant may be annexed to and run with each and every part of the lands now owned by the Transferor and comprising Part 1 on Reference Plan 51 R-14632 now owned by the Transferor and comprising the Brechin Industrial Park, on behalf of the Transferee and the heirs, executors, administrators, successors and assigns of the Transferee covenants and agrees with the Transferor, its successors and assigns that the Transferee will observe and comply with the stipulations, restrictions, and provisions hereinafter set out and that nothing will be erected or done upon the said lands or any part thereof in breach or violation or contrary to the fair meaning of the said stipulations, restrictions and provisions.

i) The said lands or any part thereof shall not be used for residential purposes, except that a caretaker or watchman in connection with any industry or business carried on upon the said lands may reside thereon.

ii) No building or structure shall be erected or placed upon the said lands or any part thereof unless the same are generally fireproof, the materials of which same are constructed are incombustible in composition and the exterior construction is of brick, architectural block, precast concrete, stone, reinforced concrete, metal or glass or a combination of these materials or some other masonry materials provided that such other materials and colours shall have first been approved in writing by the Transferor.

iii) The said lands or any part thereof or any building or structure thereon or to be erected or placed thereon or any part thereof, shall not be used for any purpose or in such manner which shall be a nuisance to the occupants or owners of any neighbouring lands or buildings by reason of the emission from the said lands or any part thereof or the creation thereon of odours, gases, dust, smoke, noise, fumes, cinders, soot or waste or otherwise.

iv) No building or structure shall be erected or placed and no parking area or driveway shall be laid out, constructed or maintained upon the said lands or any part thereof, unless the site plans and working drawings, including elevations thereof, shall have been prepared by a qualified professional engineer or architect and shall have been first submitted to and approved in writing by the Transferor and such building, structure, parking area and driveway shall have been erected, placed, laid out, constructed and maintained, strictly in accordance with the site plan and working drawings as approved and with the requirements of governmental laws, bylaws, orders and regulations. The words "building or structure" where used in these stipulations, restrictions and provisions without limiting the general meaning thereof shall include a water tower, smoke stack, tower, transformer, pump house and fence.

v) Unless specifically exempt, no buildings shall be erected on said lands with a gross ground floor area of less than 5,000 square feet nor with a front elevation of less than 65 feet; no truck receiving or shipping doors shall face the street on the front elevation of the building.

vi) No motor vehicles or bicycles shall be parked upon the said lands or any part thereof other than in a parking area as approved.

vii) No signs, billboards, notices or other advertising matter of any kind shall be erected or placed (except as hereinafter provided) upon any part of the said lands or upon or on any buildings or within any buildings where the same may be visible outside or upon or on any fence, tree or other structure on the said lands without the prior written consent of the Transferor or its successors, provided that such consent shall not be unreasonably withheld; provided further that consent shall not be required in respect of a sign of reasonable dimensions and usual type offering the said lands for sale or offering the said lands or any part thereof for rent.

viii) No excavation shall be made on the said lands except excavations for the purpose of construction thereon or for the improvement of the grounds thereof. No soil, sand, earth or gravel shall be removed from the said lands except as part of any such excavation. No building waste or other waste material of any kind shall be dumped or stored on the said lands except clean earth for the purpose of leveling the surface thereof for the erection of a building thereon or for the immediate improvement of the grounds thereof and except building materials when same are required for the immediate construction of a building thereon.

ix) No boiler or furnaces of any kind shall be placed, installed or used upon the said lands or within any building thereon other than boilers or furnaces utilizing for fuel any of oil, gas or electricity.

x) No goods, equipment or other materials shall be warehoused, stored or left on the said lands outside any building or buildings erected on the said lands or any part thereof, unless the location of such areas and, where required by the Transferor, the screening and/or fencing of storage yards is approved by the Transferor in writing prior to commencement of construction.

xi) No part of the lands which lie between the said lands and the traveled portion of any road allowance adjacent thereto, other than those parts thereof upon which a driveway is maintained, shall be kept in any state other than landscaped in accordance with plans that shall have been submitted to and approved in writing by the Transferor or its successors either prior to or coincident with the submission of site plans and working drawings for any building to be erected or placed upon the said lands.

xii) The word "successors" when used in relation to the Transferor in the foregoing stipulations, restrictions and provisions shall mean the successors in title, the owner or owners for the time being of the last part which the Transferor shall convey away of the lands of the Transferor.

Provided always that the Transferor and its successors shall have power by instrument or instruments in writing from time to time to waive, alter or modify the above covenants and restrictions.

 

Last Update Posted 2012-03-02 9:32am

Brechin Business Park, Ramara Township, Ontario 705-484-5374