November 4, 1998

To:East York Community Council - November 12, 1998

From:Quinto M. Annibale

Loopstra, Nixon & McLeish - City Solicitors - East York Office

Subject:1 Leaside Park Drive - Release of Agreement

Purpose:

This report to Council concerns a request by Invar (Leaside) Limited for the release of the Condominium Agreement registered on title as Instrument No. E195985 from certain units.

Funding Sources:

The cost of preparing and registering this release will be paid by the owner.

Recommendations:

1.That City Council authorize the release of the above agreement on title to units within the above-noted development.

2.That the City Solicitors for the East York Office be directed to prepare and register on title a Release of Agreement.

3.That the appropriate City officials be authorized to take such actions and execute such documents as may be necessary to give effect to recommendations 1 and 2.

History:

The owner of this property has developed the lands as a condominium building. It was a condition of the City's approval of the draft plan of condominium that the owner enter into a condominium agreement with the City, which was done. The agreement provides for the conveyance of any easements to the City and Toronto Hydro that may be required.

Now that the units are being sold, the developer is asking that the agreement be released from title to individual units. Since easements would not be required over individual units (only common elements), a release of the agreement from the units would be appropriate. The agreement however will continue to be applicable to the common elements of the development.

Conclusions:

We have circulated the request to City Planning Staff - East York Office and they have confirmed that there are no concerns with respect to the release of the agreement. It is appropriate to delete Instrument No. E195985 from title to certain units of 1 Leaside Park Drive.

Contact Name:

Quinto M. Annibale

Loopstra, Nixon & McLeish

City Solicitors - East York Office

Tel. 416-746-4710

Fax 416-746-8319

qannibale@loonix.com

Quinto M. Annibale

City Solicitors - East York Office

/rs