Lora Bay Corporation Lots
Phase 3 (Landry Lane)
Financing Clause:
The seller agrees to provide through Equitable Trust an open First Mortgage for 24 months for 80% of the purchaseprice. Said mortgage will be interest free for 12 months and at price plus 2% for the next 12 months from the closingof this transaction. At the end of the 24 month mortgage term, the balance of the purchase price will be paid in full.
DC Clause to be inserted:
The Seller agrees that all hard development costs for a house up to 225 m2 have been paid in full (including sewer capital charges) and that all services to the lot including water, sewer, phone, cable, electricity are all hooked up and stubbed at the lot line on or before completion. At the time of application for a building permit, the balance of all The Town of The Blue Mountains and County of Grey development charges are payable by the Buyer. "
Golf Membership Clauses:
For a builder, building for re-sale:
The seller agrees to include as part of the purchase price two individual trial memberships to The Golf Club at Lora Bay. These two memberships are only for the purchaser(s) of the property and are not transferable. Activation of these memberships can be deferred for up to two (2) years. Each individual membership is transferable once to new buyer(s) of the property prior to activation only. The parties agree there is no monetary value to either individual membership as part of this agreement of purchase and sale.
For a private buyer:
The seller agrees to include as part of the purchase price two individual trial memberships to The Golf Club at Lora Bay. These two memberships are only for the purchaser(s) of the property and are not transferable. Activation of these memberships can be deferred for up to two (2) years. Upon activation, annual dues are payable to the golf club. The parties agree there is no monetary value to either individual membership as part of this agreement of purchase and sale.
Status Certificate: One should be ordered through E&H Property Management at a cost of $100. Standard clause applicable.
Fill Removal Clause:
The following clause may be added:
The seller agrees that the fill to be removed from the lot may be dumped at no cost to the buyer on the adjacent land fronting on Highway 26, owned by Lora Bay Corporation. The buyer agrees that all fill deposited on the site will be spread into the existing terrain.
Lora Bay Common Elements Fees
GCECC 63 - $168.30
GCECC 79 - $170.71 for those on Landry and McCallum
$ 108.54 for those on West Ridge and Sunset (Reason is that the municipality always looked after the roads - West Ridge and Sunset)
$88 of those fees is returned to LBCA for operating/maintenance/management of the Lodge and Rec Centre.The remaining funds cover garbage pickup, snow removal on roads, maintenance of green spaces, etc. These are private roads so the fees cover whatever needs to be done to maintain them.
There are two cabins at the Lora Bay public beach and residents can keep paddleboards and kayaks in these buildings. They are full right now but being renovated to handle more.