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7.
Effective, January 1, 2007, all properties with less than $1000.00 property tax levy will be subject
to an additional levy equal to the difference of the amount totalling $1000.00.
8.
The Purchaser shall be responsible for all maintenance of boulevards and laneways adjacent to
the said Lands.
9.
The Village shall furnish to the Purchaser a good and registerable Transfer of Land for the
aforesaid Lands:
(a.)
Upon being advised that construction on the said Lands has reached the stage of
BACKFILL FOUNDATION , of the building approved in the Development Permit, or
(b.)
when the Purchaser has provided to the Village satisfactory evidence that the Purchaser
has obtained Mortgage approval for the building to be constructed pursuant to the
Development Permit issued by the Village;
WHICHEVER SHALL FIRST OCCUR, or
(c.)
At the approval of the Municipal Chief Administrative Officer or Council.
10.
It is understood and agreed that the Purchaser is responsible for establishing boundaries and
property lines of the Lands, and obtaining any Survey Certificates that may be necessary.
11.
The Purchaser agrees that development of the said property shall commence prior to the
expiration of ONE HUNDRED,TWENTY (120) days from the date of the Agreement, and shall be
in accordance with the terms and conditions specified in the Development Permit issued by the
Village, and with the Bylaws of the Village.
12.
In consideration of the Village entering into the within Agreement, the Purchaser
grants to the Village the irrevocable Option to buy back the aforesaid Lands for an amount equal
to the price paid by the Purchaser less TWENTY (20) Percent of the price paid by The
Purchaser. This Option is exercisable within Two (2) years from the date of the Agreement and
Option if:
(a)
development has not been commenced prior to the expiration of One Hundred
Twenty (120) days from the date hereof, or:
(b)
development has not proceed in accordance with the terms and conditions of the
Development Permit, or:
(c)
development is not completed by any completion date specified in the
Development Permit.
This Option is exercisable by the Village sending notice of its intention to exercise this Option to the
Purchaser at the address indicated herein by single registered mail with postage prepaid, and
postmarked prior to the expiration of the time for exercising this Option.
13.
For the purposes of this Agreement, including the sending of notices, the addresses of the
parties hereto shall be as follows, subject to change by notice in writing being delivered by the
party desiring to make such change:
THE VILLAGE OF NOBLEFORD, P.O. Box 67, Nobleford, Alberta T0L lS0
Purchaser;
14.
The within Agreement is not assignable by the Purchaser without the prior written consent of the
Village.
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