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THe CORPORATION OF THE CITY oF port COQUITLAM

PUBLIC NOTICE

REAL PROPERTY FOR SALE BY TENDER
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Sealed offers to purchase Lot 13 of Section 5, Block 6 North, Range 1
East, Plan 22835, New Westminster District and Lot “C" of Blocks 18 and 19
of Section 5, Block 6 North, Range 1 East, Plan 19371 except part subdivided
under Plan 22835 New Westminster District and except the northerly 900 feet
thereof; (hereinafter called the "subject property"); will be received by the
undersigned up to 17:00 o'clock noon on Monday, January 24th, 1993. The
subject property has an area of approximately 40.8 acreg and is located in
the vicinity of Dominion Avenue and Premont Street and is presently under
lease to the Carnoustie Golf Club for use only as a Golf Courge and for
pur ineid 1 and ancillary thereto.

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The property is being offered for Sale upon tha following terms and
canditions:

1. The lowest price that will be accepted for the property is $300,060.00.

2. The City is prepared to accapt a down payment of $75,000.00 with the
balance of the purchase price *o be secured by way of a 5 year zgreement for
sale at an interest rate of 14% per annum, compounded semi-annually, for a one
year term; and a further 4 year term at the prime rate of interest determined
from time to time by the City’s Bankers. The sful purch will be
permitted to prepay without notice or bonus at any time the entire belance owing.

3. The documentation to be registered in the Land Title Office to effact
the transfer of the property will include a statement that Pramont Street,

located adjacant to the subject. property and Presently unconstructed may, in
the discretion of che City, be developed at some future @ate for the passage

Of traffic.

4. A Restrictive Covenant will be registered against the p Percy, pur
to seme appropriate provision of. ths Land Title Act, that will provida that
Che subject property shall be used only as a Gelf Course and for. purposes
incidental and ancillary thereto.

5. All legal and survey costs involved in the transaction are to be borne
by the. purchaver. .

All offexs shail be sealed in an envelope and marked on tha outside of
such envelope “Offers to Purchase Let 13 and a Portion of Lat "C" and shall
be delivered to and be in the hands of R.A. Freeman, City Clerk, 2272 McAllister
Avenue, Pert Coquitlam, 8.C. prior to 12:00 o'clock noan on Monday, January
24th, 1983.

_ Prospective purchasers are advisad that the property iz being sold subject
to an existing tenancy upon which the rent has been pre-paid to the City for the
Period ending September 30th, 1986 end prior to submitting an Offer Prospective
purchasers should Satisfy themselvas as to the state of the title as recorded
in the Land Title Office.

The subject property is zoned P-3 and is located in the Agricultural Land
Reserve.

The highest or any offer not necassarily accepted.

The City reserves the right to discuss any offer submittad with the person
who submitted such offer with a view to obtaining clarification or minor
modification of such offer as may be required to meet the tarms outlined herein.

The City further raserves. the right to reject any or all Offers.

For furthar details contact the undersigned. -

R.A. Preeman,
City Clerk.

Port Coquitlam City Hall,
2272 McAllister Avenue,

Port Coquitlam, 3.¢. S cvenue
January 12th, 1983. a ee

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