Plan 3759 A.F., Lot 16 and the most easterly 11 feet of Lot 17; Excepting Thereout: Part of Lot 16 and part of Lot 17 under Plan 752-1522 (Wedgewood) and the north/south lane between 117 Avenue and 118 Avenue and the east/west lane between 78 Street and 79 Street; Containing 1,587.98 m2
Between 117 and 118 Avenue, Between 78 and 79 Street
1. That the agreed sale price of $37.50 per sq. ft. be due and payable upon approval of the sale of Lot 16 and a portion of Lot 17 on Plan 3759 A.F. by City Council. Exact area to be determined by legal survey.
2. That the agreed sale price of $37.50 per sq. ft. be due and payable for the sale of the lanes upon receipt of registerable Transfer of the lanes. Exact area to be determined by legal survey.
3. That Chalet Investments Ltd. shall agree to sell to the City of Edmonton at the agreed price of $37.50 per sq. ft. all that portion of land required for road widening for 118 Avenue and all lands required for corner cuts. That payment shall be due and payable upon registration of a Plan of Consolidation at the Land Titles Office dedicating into roadway all those lands purchased by the City of Edmonton. Exact area to be determined by legal survey.
4. That Chalet Investments Ltd. be identified as purchaser and undertake, at its expense, to prepare a Plan of Consolidation which will consolidate Lot 16 and a portion of Lot 17, Plan 3759 A.F. with the applicant's adjoining land, and by the same Plan of Consolidation Chalet Investments Ltd. shall have dedicated into roadway those lands required by the City for 118 Avenue road widening and corner cuts at the north/west, south/west and south/east corners of Block 20, Plan 3759 A.F.
5. That upon registration of the closure bylaw at the Land Titles Office closing the north/south lane between 117 and 118 Avenue and the east/west lane between 78 and 79 Street, Chalet Investments Ltd. shall undertake, at its expense, to prepare a Plan of Consolidation which will consolidate the aforementioned lanes with the applicant's adjoining land.
6. That a holding cost equivalent to one per cent (1%) per month for each month or portion thereof from the date of approval of the sale by City Council up to and including the date the Transfer of lanes is registered at the Land Titles Office with the Plan of Consolidation. The holding cost shall be calculated on the total purchase price of the lanes and received upon receipt of registerable Transfer from the City of Edmonton.
7. That the City of Edmonton register a temporary easement prior to Transfer over the entire portion of lanes to be closed. This easement is required to protect existing utilities.
8. That this Plan provide for all utility lots as may be required by the City.
9. That Chalet Investments Ltd. shall be responsible for the costs and charges of removing, relocating or altering any services or utilities that are affected by the sale and/or proposed development of these lands.