Bill 25 - An Act to Remove Certain Restrictive Covenants on Title to Certain Lands in The City of Saint John vested in Plazacorp Property Holdings Inc.

BILL 25

An Act to Remove Certain Restrictive Covenants on Title to Certain Lands in The City of Saint John vested in Plazacorp Property Holdings Inc.

WHEREAS Plazacorp Property Holdings Inc. (“Plaza”) acquired certain lands described below (the “Lands”) from The City of Saint John (the “City”) by deed dated the 27th day of July, 2016 and registered in the New Brunswick Land Titles Office on the 28th day of July, 2016 as Number 166749;

AND WHEREAS a portion of the Lands (the “Restricted Lands”) are subject to certain covenants and restrictions imposed when the City acquired the Lands;

AND WHEREAS Plaza and the City agreed that a portion of the proceeds of the sale of the Lands (the “Holdback”) would be held in trust pending the successful petition of Plaza to have such covenants and restrictions removed from title;

AND WHEREAS the Common Council of the City adopted a resolution on December 2, 2019 that the proceeds of the sale constituting the Holdback shall be used by the City for future priority capital requirements of the City for its parks and green spaces in the Millidgeville and Saint John North areas;

AND WHEREAS Plaza has, by its petition, prayed that certain covenants and restrictions upon the title to the Restricted Lands be removed;

AND WHEREAS it is deemed expedient to grant the prayer in the said petition;

THEREFORE, Her Majesty, by and with the advice and consent of the Legislative Assembly of New Brunswick, enacts as follows:

1 All covenants and restrictions of every nature and kind whatsoever imposed by The Eastern Trust Company, Liquidator of Turnbull Real Estate Company, affecting lands situate in The City of Saint John which were conveyed by The Eastern Trust Company to The City of Saint John by deed dated the 25th day of July, 1956 and registered in the Saint John County Registry Office in Book 335 at Pages 310-313 on the 6th day of August, 1956 as Number 166749 described as follows:

“ALL that certain lot, piece, part or parcel of land constituting the site for a proposed fire station situated on the eastern side of Millidge Avenue between Black St. and Woodward Ave. in Stanley Ward, Saint John, N.B. Said lot is to contain 1.5 acres more or less, and is more particularly described as follows: Beginning at a point on the eastern boundary of Millidge Ave. 128 feet, plus or minus, distant from the intersection of the center line of Black St. and the eastern edge of Millidge Ave. Said point being designated as 0 + 00. This point is also the northwest corner of aforesaid lot. Thence in a straight line bearing by the magnet 1955 A.D. S 11° 00’ W a distance of 60.6 feet to Station 0 + 60.6. Thence in a straight line bearing by the magnet S 3° 10’ W a distance of 50 feet to Station 1 +10.6. Thence in a straight line bearing by the Magnet S 2° 30’ W a distance of 124.2 feet to Station 2 + 34.8. Thence in a straight line bearing by the Magnet S 2° 20’ W a distance of 93.5 feet to Station 3 + 28.3. This point constitutes the south west corner of the lot. Thence in a straight line bearing by the Magnet S 87° 40’ E a distance of 200 feet to Station 5 + 28.3. This point designating the south east corner of said lot. Thence in a straight line bearing by the Magnet N 2° 20’ E a distance of 326.75 feet to Station 8 + 55.05. This point constituting the northeast corner of said lot. Thence in a straight line bearing by the Magnet N 87° 40’ W a distance of 189.1 feet to Station 10 + 44.15, said station being also the point of beginning or Station 0 + 00. The whole as shown on the plan, hereto attached, colored in red.”

are hereby extinguished and removed as they may affect lands vested in Plazacorp Property Holdings Inc. and identified as Parcel Identifier 55221717.

2 The proceeds of the sale constituting the Holdback referred to in the preamble to this Act shall be used by The City of Saint John for future priority capital requirements for its parks and green spaces in the Millidgeville and Saint John North areas.